Wachovia Asset Securit Issuance LLC 2003-he3 TR Inactive
Filed: 15 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 | April 1, 2004 through April 30, 2004 | |
| Payment Date | May 25, 2004 |
Aggregate Amount Collected for the Collection Period
| Interest | $ | 1,383,342.72 | ||
| Principal Collections | $ | 22,973,057.54 | ||
| Substitution Amounts | $ | — | ||
| Funds from Yield Maintenance Agreement | $ | — | ||
| Additional Draws | $ | 12,174,111.27 |
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 | $ | 50,301.31 | ||||||||||||||||||
| (ii) A-1 Noteholder’s Interest | $ | 504,947.81 | 1.0098956247 | |||||||||||||||||
| (iii) Principal Collections to Funding Account | $ | — | ||||||||||||||||||
| (iv) Excess Spread (during Revolving) | $ | — | ||||||||||||||||||
| (v) Excess Spread (during AP) | $ | 828,093.59 | ||||||||||||||||||
| (vi) Additional Balance Increase from Excess Spread (during MAP) | $ | — | ||||||||||||||||||
| (vii) A-1 Noteholder’s Principal Distribution | $ | 11,628,134.99 | 11.6281350 | |||||||||||||||||
| (viii) Enhancer for Prior Draws | $ | — | Aggregate to Date | |||||||||||||||||
| (ix) Liquidation Loss Amount | $ | — | $ | — | ||||||||||||||||
| (x) Enhancer | $ | — | ||||||||||||||||||
| (xi) Interest Shortfalls | $ | — | $ | — | ||||||||||||||||
| (xii) Indenture Trustee | $ | — | ||||||||||||||||||
| (xiii) Certificates | $ | — | ||||||||||||||||||
| Balances | Factor | |||||||||||||||||||
| Beginning A-1 Note Balance | $ | 464,319,827.43 | 0.9286396549 | |||||||||||||||||
| Ending A-1 Note Balance | $ | 452,691,692.44 | 0.9053833849 | |||||||||||||||||
| Change | $ | 11,628,134.99 | 0.0232562700 | |||||||||||||||||
| Beginning Excluded Amount | $ | — | ||||||||||||||||||
| Ending Excluded Amount | $ | — | ||||||||||||||||||
| Change | $ | — | ||||||||||||||||||
| Beginning Pool Balance | $ | 465,304,783.36 | 0.9305965095 | |||||||||||||||||
| Ending Pool Balance | $ | 454,504,741.96 | 0.9089967298 | |||||||||||||||||
| Change | $ | 10,800,041.40 | 0.0215997797 | |||||||||||||||||
| Beginning Principal Balance | $ | 465,304,783.36 | 0.9305965095 | |||||||||||||||||
| Ending Principal Balance | $ | 454,504,741.96 | 0.9089967298 | |||||||||||||||||
| Change | $ | 10,800,041.40 | 0.0215997797 | |||||||||||||||||
| 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 | $ | — | — | |||||||||||||||||
| Deposit To (Withdrawal From) Account | $ | — | — | |||||||||||||||||
| Ending Funding Account Balance | $ | — | — | |||||||||||||||||
| Current Period Liquidation Loss Amount | $ | 1,095.13 | 0.0000021903 | |||||||||||||||||
| Aggregate Liquidation Loss Amount | $ | 1,095.13 | 0.0000021903 | |||||||||||||||||
| Current Net Excess Spread Percentage | 0.1783 | % | ||||||||||||||||||
| 2 Month Average Net Excess Spread Percentage | 0.1870 | % | ||||||||||||||||||
| 3 Month Average Net Excess Spread Percentage | 0.1834 | % | ||||||||||||||||||
| Delinquencies | ||||||||||||||||||||
| # | $ | |||||||||||||||||||
| Two statement cycle dates: | — | $ | — | |||||||||||||||||
| Three statement cycle dates: | 1 | $ | 28,407.04 | |||||||||||||||||
| Four statement cycle dates: | — | $ | — | |||||||||||||||||
| Five statement cycle dates: | — | $ | — | |||||||||||||||||
| Six statement cycle dates: | 1 | $ | 14,370.85 | |||||||||||||||||
| Seven + statement cycle dates: | — | $ | — | |||||||||||||||||
| Foreclosures | — | $ | — | |||||||||||||||||
| REO | — | $ | — | |||||||||||||||||
| Liquidation Loss Amount | 8 | $ | 1,095.13 | |||||||||||||||||
Wachovia Bank, National Bank
as Administrator
| Additional Information | UPB of 3 Largest Loans | |||||||||
| Net WAC Rate | 3.39 | % | $708,027.84 | |||||||
| Overcollateralization Target | $ | 5,000,000.00 | $744,574.88 | |||||||
| Beginning Overcollateralization | $ | 984,955.93 | $818,686.31 | |||||||
| Overcollateralization Amount | $ | 1,813,049.52 | ||||||||
| Funding Account Ending Balance | $ | — | ||||||||
| Interest Shortfalls | None | |||||||||
| Gross CPR (1 mo. Annualized) | 45.535 | % | Deficiency Amounts | None | ||||||
| Net CPR (1 mo. Annualized) | 24.561 | % | Stepdown Event? | No | ||||||
| Draw Rate (1 mo. Annualized) | 27.248 | % | LIBOR | 1.1000 | % | |||||
| WAM | 212.18 | Net Note Rate | 1.3500 | % | ||||||
| AGE | 24.31 | |||||||||
| Allocation of Collected Funds | ||||||||||
| Interest Collections | Principal Collections | |||||||||
| Total Collected | $ | (1,577,219.71 | ) | Total Collected | $ | (22,973,057.54 | ) | |||
| Yield Maintenance Amount | $ | — | A-1 Principal | $ | 11,628,134.99 | |||||
| Servicing Fee | $ | 193,876.99 | Add’l Balance Increase | $ | — | |||||
| Enhancer Premium | $ | 50,301.31 | Net Draws | $ | 12,173,016.14 | |||||
| Additional Balance Interest | $ | — | Funding Account | $ | — | |||||
| A-1 Interest | $ | 504,947.81 | Excess as principal | $ | (828,093.59 | ) | ||||
| Excess Interest | $ | 828,093.59 | Net | $ | (0.00 | ) | ||||
Net | $ | — | ||||||||