Wachovia Asset Securit Issuance LLC 2003-he3 TR Inactive
Filed: 14 Jun 04, 12:00am
Monthly Statements to the Securityholders
Pursuant to Section 4.01 of the Sale and Servicing Agreement
Wachovia Asset Securitization Inc
2003-HE3
| Monthly Period | February 1, 2004 through February 29, 2004 | |
| Payment Date | March 25, 2004 |
| Aggregate Amount Collected for the Collection Period | ||||||||||||||||||
| Interest | $ | 1,377,668.78 | ||||||||||||||||
| Principal Collections | $ | 18,169,900.76 | ||||||||||||||||
| Substitution Amounts | $ | — | ||||||||||||||||
| Funds from Yield Maintenance Agreement | $ | — | ||||||||||||||||
| Additional Draws | $ | 10,768,831.43 | ||||||||||||||||
| Application of Collected Amounts (pursuant to Section 3.05 of the Indenture Agreement) | ||||||||||||||||||
| Applied in the following order of priority: | Factor per 1000 | |||||||||||||||||
| (i) | Enhancer Premium | $ | 54,166.67 | |||||||||||||||
| (ii) | A-1 Noteholder’s Interest | $ | 539,722.22 | 1.0794444444 | ||||||||||||||
| (iii) | Principal Collections to Funding Account | $ | 7,401,069.33 | |||||||||||||||
| (iv) | Excess Spread (during Revolving) | $ | 783,779.89 | |||||||||||||||
| (v) | Excess Spread (during AP) | $ | — | |||||||||||||||
| (vi) | Additional Balance Increase from Excess Spread (during MAP) | $ | — | |||||||||||||||
| (vii) | A-1 Noteholder’s Principal Distribution | $ | — | 0.0000000 | ||||||||||||||
| (viii) | Enhancer for Prior Draws | $ | — | Aggregate to Date | ||||||||||||||
| (ix) | Liquidation Loss Amount | $ | — | $ | — | |||||||||||||
| (x) | Enhancer | $ | — | |||||||||||||||
| (xi) | Interest Shortfalls | $ | — | $ | — | |||||||||||||
| (xii) | Indenture Trustee | $ | — | |||||||||||||||
| (xiii) | Certificates | $ | 783,779.89 | |||||||||||||||
| Balances | ||||||||||||||||||
| Factor | ||||||||||||||||||
| Beginning A-1 Note Balance | $ | 500,000,000.00 | 1.0000000000 | |||||||||||||||
| Ending A-1 Note Balance | $ | 500,000,000.00 | 1.0000000000 | |||||||||||||||
| Change | $ | — | 0.0000000000 | |||||||||||||||
| Beginning Excluded Amount | $ | — | ||||||||||||||||
| Ending Excluded Amount | $ | — | ||||||||||||||||
| Change | $ | — | ||||||||||||||||
| Beginning Pool Balance | $ | 485,352,616.77 | 0.9706916138 | |||||||||||||||
| Ending Pool Balance | $ | 477,951,546.45 | 0.9558896808 | |||||||||||||||
| Change | $ | 7,401,070.32 | 0.0148019330 | |||||||||||||||
| Beginning Principal Balance | $ | 485,352,616.77 | 0.9706916138 | |||||||||||||||
| Ending Principal Balance | $ | 477,951,547.44 | 0.9558896828 | |||||||||||||||
| Change | $ | 7,401,069.33 | 0.0148019310 | |||||||||||||||
| Beginning Certificate Balance | $ | — | ||||||||||||||||
| Additional Balance Increase (Draws minus Payments) | $ | — | ||||||||||||||||
| Ending Certificate Balance | $ | — | ||||||||||||||||
| Beginning Subsequent Transfers | $ | — | ||||||||||||||||
| Current Period Transfers | $ | — | ||||||||||||||||
| Aggregate Subsequent Transfers | $ | — | ||||||||||||||||
| Beginning Funding Account Balance | $ | 14,654,398.73 | 0.0293087975 | |||||||||||||||
| Deposit To (Withdrawal From) Account | $ | 7,401,069.33 | 0.0148021387 | |||||||||||||||
| Ending Funding Account Balance | $ | 22,055,468.06 | 0.0441109361 | |||||||||||||||
| Current Period Liquidation Loss Amount | $ | — | — | |||||||||||||||
| Aggregate Liquidation Loss Amount | $ | — | — | |||||||||||||||
| Current Net Excess Spread Percentage | 0.1568 | % | ||||||||||||||||
| 2 Month Average Net Excess Spread Percentage | 0.1568 | % | ||||||||||||||||
| 3 Month Average Net Excess Spread Percentage | 0.1616 | % | ||||||||||||||||
| Delinquencies | # | $ | ||||||||||||||||
| Two statement cycle dates: | 1 | $ | 16.70 | |||||||||||||||
| Three statement cycle dates: | 1 | $ | 51.48 | |||||||||||||||
| Four statement cycle dates: | 1 | $ | 14,246.16 | |||||||||||||||
| Five statement cycle dates: | — | $ | — | |||||||||||||||
| Six statement cycle dates: | — | $ | — | |||||||||||||||
| Seven + statement cycle dates: | — | $ | — | |||||||||||||||
| Foreclosures | — | $ | — | |||||||||||||||
| REO | — | $ | — | |||||||||||||||
| Liquidation Loss Amount | — | $ | — | |||||||||||||||
| Wachovia Bank, National Bank | ||||||||||||||||||
| as Administrator | ||||||||||||||||||
| Additional Information | ||||
| Net WAC Rate | 3.54 | % | ||
| Overcollateralization Target | $ | 250,000.00 | ||
| Beginning Overcollateralization | $ | 7,015.50 | ||
| Overcollateralization Amount | $ | 7,014.51 | ||
| Funding Account Ending Balance | $ | 22,055,468.06 | ||
| Gross CPR (1 mo. Annualized) | 36.737 | % | ||
| Net CPR (1 mo. Annualized) | 16.839 | % | ||
| Draw Rate (1 mo. Annualized) | 23.605 | % | ||
| WAM | 214.20 | |||
| AGE | 22.29 | |||
| UPB of 3 Largest Loans | ||||
| $ | 775,776.69 | |||
| $ | 818,686.31 | |||
| $ | 831,145.13 | |||
| Interest Shortfalls | None | |||
| Deficiency Amounts | None | |||
| Stepdown Event? | No | |||
| LIBOR | 1.0900 | % | ||
| Net Note Rate | 1.3400 | % | ||
Allocation of Collected Funds | ||||
| Interest Collections | ||||
| Total Collected | $ | (1,579,899.04 | ) | |
| Yield Maintenance Amount | $ | — | ||
| Servicing Fee | $ | 202,230.26 | ||
| Enhancer Premium | $ | 54,166.67 | ||
| Additional Balance Interest | $ | — | ||
| A-1 Interest | $ | 539,722.22 | ||
| Excess Interest | $ | 783,779.89 | ||
Net | $ | — | ||
| Principal Collections | ||||
| Total Collected | $ | (18,169,900.76 | ) | |
| A-1 Principal | $ | — | ||
| Add’l Balance Increase | $ | — | ||
| Net Draws | $ | 10,768,831.43 | ||
| Funding Account | $ | 7,401,069.33 | ||
Net | $ | — |