Wachovia Asset Securit Issuance LLC 2003-he3 TR Inactive
Filed: 14 Jul 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 | May 1, 2004 through May 31, 2004 | |
| Payment Date | June 25, 2004 |
Aggregate Amount Collected for the Collection Period | ||||
| Interest | $ | 1,277,397.58 | ||
| Principal Collections | $ | 21,058,236.62 | ||
| Substitution Amounts | $ | — | ||
| Funds from Yield Maintenance Agreement | $ | — | ||
| Additional Draws | $ | 10,858,868.99 |
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 | $ | 49,041.60 | ||||||||||||||
| (ii) A-1 Noteholder’s Interest | $ | 526,254.09 | 1.0525081849 | |||||||||||||
| (iii) Principal Collections to Funding Account | $ | — | ||||||||||||||
| (iv) Excess Spread (during Revolving) | $ | — | ||||||||||||||
| (v) Excess Spread (during AP) | $ | 702,101.89 | ||||||||||||||
| (vi) Additional Balance Increase from Excess Spread (during MAP) | $ | — | ||||||||||||||
| (vii) A-1 Noteholder’s Principal Distribution | $ | 10,902,091.71 | 10.9020917 | |||||||||||||
| (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 | $ | 452,691,692.44 | 0.9053833849 | |||||||||||||
| Ending A-1 Note Balance | $ | 441,789,600.73 | 0.8835792015 | |||||||||||||
| Change | $ | 10,902,091.71 | 0.0218041834 | |||||||||||||
| Beginning Excluded Amount | $ | — | ||||||||||||||
| Ending Excluded Amount | $ | — | ||||||||||||||
| Change | $ | — | ||||||||||||||
| Beginning Pool Balance | $ | 454,504,741.96 | 0.9089967298 | |||||||||||||
| Ending Pool Balance | $ | 444,304,752.14 | 0.8885970364 | |||||||||||||
| Change | $ | 10,199,989.82 | 0.0203996934 | |||||||||||||
| Beginning Principal Balance | $ | 454,504,741.96 | 0.9089967298 | |||||||||||||
| Ending Principal Balance | $ | 444,304,752.14 | 0.8885970364 | |||||||||||||
| Change | $ | 10,199,989.82 | 0.0203996934 | |||||||||||||
| 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 | $ | 622.19 | 0.0000012444 | |||||||||||||
| Aggregate Liquidation Loss Amount | $ | 622.19 | 0.0000012444 | |||||||||||||
| Current Net Excess Spread Percentage | �� | 0.1551 | % | |||||||||||||
| 2 Month Average Net Excess Spread Percentage | 0.1667 | % | ||||||||||||||
| 3 Month Average Net Excess Spread Percentage | 0.1735 | % | ||||||||||||||
Delinquencies | ||||||||||||||||
| # | $ | — | ||||||||||||||
| Two statement cycle dates: | 1 | $ | 28,312.31 | |||||||||||||
| Three statement cycle dates: | — | $ | — | |||||||||||||
| Four statement cycle dates: | 1 | $ | 28,535.81 | |||||||||||||
| Five statement cycle dates: | — | $ | — | |||||||||||||
| Six statement cycle dates: | — | $ | — | |||||||||||||
| Seven + statement cycle dates: | 1 | $ | 14,431.76 | |||||||||||||
| Foreclosures (included in aging above) | — | $ | — | |||||||||||||
| REO | — | $ | — | |||||||||||||
| Liquidation Loss Amount | 1 | $ | 622.19 | |||||||||||||
| Wachovia Bank, National Bank | ||||||||||||||||
| as Administrator | ||||||||||||||||
Additional Information | UPB of 3 Largest Loans | |||||||||||||||
| Net WAC Rate | 3.21 | % | $ | 685,172.55 | ||||||||||||
| Overcollateralization Target | $ | 5,042,967.57 | $ | 708,027.84 | ||||||||||||
| Beginning Overcollateralization | $ | 1,813,049.52 | $ | 818,686.31 | ||||||||||||
| Overcollateralization Amount | $ | 2,515,151.41 | ||||||||||||||
| Funding Account Ending Balance | $ | — | ||||||||||||||
| Interest Shortfalls | None | |||||||||||||||
| Gross CPR (1 mo. Annualized) | 43.408 | % | Deficiency Amounts | None | ||||||||||||
| Net CPR (1 mo. Annualized) | 23.844 | % | Stepdown Event? | No | ||||||||||||
| Draw Rate (1 mo. Annualized) | 25.186 | % | LIBOR | 1.1000 | % | |||||||||||
| WAM | 211.43 | Net Note Rate | 1.3500 | % | ||||||||||||
| AGE | 25.06 | |||||||||||||||
Allocation of Collected Funds | ||||||||||||||||
Interest Collections | Principal Collections | |||||||||||||||
| Total Collected | $ | (1,466,774.56 | ) | Total Collected | $ | (21,058,236.62 | ) | |||||||||
| Yield Maintenance Amount | $ | — | A-1 Principal | $ | 10,902,091.71 | |||||||||||
| Servicing Fee | $ | 189,376.98 | Add'l Balance Increase | $ | — | |||||||||||
| Enhancer Premium | $ | 49,041.60 | Net Draws | $ | 10,858,246.80 | |||||||||||
| Additional Balance Interest | $ | — | Funding Account | $ | — | |||||||||||
| A-1 Interest | $ | 526,254.09 | Excess as principal | $ | (702,101.89 | ) | ||||||||||
| Excess Interest | $ | 702,101.89 | Net | $ | 0.00 | |||||||||||
Net | $ | — | ||||||||||||||