Wachovia Asset Securit Issuance LLC 2003-he3 TR Inactive
Filed: 30 Aug 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 | June 1, 2004 through June 30, 2004 | |
| Payment Date | July 26, 2004 |
Aggregate Amount Collected for the Collection Period | ||||
| Interest | $ | 1,468,385.71 | ||
| Principal Collections | $ | 23,655,265.59 | ||
| Substitution Amounts | $ | — | ||
| Funds from Yield Maintenance Agreement | $ | — | ||
| Additional Draws | $ | 10,689,450.91 |
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 | $ | 47,860.54 | ||||||||||||||
| (ii) A-1 Noteholder’s Interest | $ | 589,666.40 | 1.1793327953 | |||||||||||||
| (iii) Principal Collections to Funding Account | $ | — | ||||||||||||||
| (iv) Excess Spread (during Revolving) | $ | — | ||||||||||||||
| (v) Excess Spread (during AP) | $ | 830,858.77 | ||||||||||||||
| (vi) Additional Balance Increase from Excess Spread (during MAP) | $ | — | ||||||||||||||
| (vii) A-1 Noteholder’s Principal Distribution | $ | 13,796,673.45 | 13.7966735 | |||||||||||||
| (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 | $ | 441,789,600.73 | 0.8835792015 | |||||||||||||
| Ending A-1 Note Balance | $ | 427,992,927.28 | 0.8559858546 | |||||||||||||
| Change | $ | 13,796,673.45 | 0.0275933469 | |||||||||||||
| Beginning Excluded Amount | $ | — | ||||||||||||||
| Ending Excluded Amount | $ | — | ||||||||||||||
| Change | $ | — | ||||||||||||||
| Beginning Pool Balance | $ | 444,304,752.14 | 0.8885970364 | |||||||||||||
| Ending Pool Balance | $ | 431,338,937.46 | 0.8626657709 | |||||||||||||
| Change | $ | 12,965,814.68 | 0.0259312655 | |||||||||||||
| Beginning Principal Balance | $ | 444,304,752.14 | 0.8885970364 | |||||||||||||
| Ending Principal Balance | $ | 431,338,937.46 | 0.8626657709 | |||||||||||||
| Change | $ | 12,965,814.68 | 0.0259312655 | |||||||||||||
| 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 | $ | — | — | |||||||||||||
| Aggregate Liquidation Loss Amount | $ | 1,717.32 | 0.0000034346 | |||||||||||||
| Current Net Excess Spread Percentage | 0.1881 | % | ||||||||||||||
| 2 Month Average Net Excess Spread Percentage | 0.1716 | % | ||||||||||||||
| 3 Month Average Net Excess Spread Percentage | 0.1700 | % | ||||||||||||||
Delinquencies | # | $ | ||||||||||||||
| Two statement cycle dates: | 4 | $ | 506,896.93 | |||||||||||||
| Three statement cycle dates: | 1 | $ | 28,422.70 | |||||||||||||
| Four statement cycle dates: | — | $ | — | |||||||||||||
| Five statement cycle dates: | 1 | $ | 28,664.27 | |||||||||||||
| Six statement cycle dates: | — | $ | — | |||||||||||||
| Seven + statement cycle dates: | 1 | $ | 14,489.63 | |||||||||||||
| Foreclosures (included in aging above) | 1 | $ | 28,664.27 | |||||||||||||
| REO | — | $ | — | |||||||||||||
| Liquidation Loss Amount | — | $ | — | |||||||||||||
Wachovia Bank, National Bank
as Administrator
Additional Information | UPB of 3 Largest Loans | |||||||||||
| Net WAC Rate | 3.42 | % | $ | 740,776.69 | ||||||||
| Overcollateralization Target | $ | 5,043,153.90 | $ | 749,972.55 | ||||||||
| Beginning Overcollateralization | $ | 2,515,151.41 | $ | 818,686.31 | ||||||||
| Overcollateralization Amount | $ | 3,346,010.18 | ||||||||||
| Funding Account Ending Balance | $ | — | Interest Shortfalls | None | ||||||||
| Gross CPR (1 mo. Annualized) | 48.135 | % | Deficiency Amounts | None | ||||||||
| Net CPR (1 mo. Annualized) | 29.911 | % | Stepdown Event? | No | ||||||||
| Draw Rate (1 mo. Annualized) | 25.341 | % | LIBOR | 1.3000% | ||||||||
| WAM | 210.39 | Net Note Rate | 1.5500% | |||||||||
| AGE | 26.10 | |||||||||||
Allocation of Collected Funds | ||||||||||||
Interest Collections | Principal Collections | |||||||||||
| Total Collected | $ | (1,653,512.69 | ) | Total Collected | $ | (23,655,265.59 | ) | |||||
| Yield Maintenance Amount | $ | — | A-1 Principal | $ | 13,796,673.45 | |||||||
| Servicing Fee | $ | 185,126.98 | Add'l Balance Increase | $ | — | |||||||
| Enhancer Premium | $ | 47,860.54 | Net Draws | $ | 10,689,450.91 | |||||||
| Additional Balance Interest | $ | — | Funding Account | $ | — | |||||||
| A-1 Interest | $ | 589,666.40 | Excess as principal | $ | (830,858.77 | ) | ||||||
| Excess Interest | $ | 830,858.77 | Net | $ | (0.00 | ) | ||||||
Net | $ | — | ||||||||||