Wachovia Asset Securit Issuance LLC 2003-he3 TR Inactive
Filed: 1 Nov 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 | July 1, 2004 to July 31, 2004 | |
| Payment Date | August 25, 2004 |
| Aggregate Amount Collected for the Collection Period | ||||||||||||||||
| Interest | $ | 1,241,127.83 | ||||||||||||||
| Principal Collections | $ | 17,999,021.15 | ||||||||||||||
| Substitution Amounts | $ | — | ||||||||||||||
| Funds from Yield Maintenance Agreement | $ | — | ||||||||||||||
| Additional Draws | $ | 9,828,201.70 | ||||||||||||||
| 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 | $ | 46,365.90 | |||||||||||||
| (ii) | A-1 Noteholder’s Interest | $ | 606,323.31 | 1.2126466273 | ||||||||||||
| (iii) | Principal Collections to Funding Account | $ | — | |||||||||||||
| (iv) | Excess Spread (during Revolving) | $ | — | |||||||||||||
| (v) | Excess Spread (during AP) | $ | 588,438.62 | |||||||||||||
| (vi) | Additional Balance Increase from Excess Spread (during MAP) | $ | — | |||||||||||||
| (vii) | A-1 Noteholder’s Principal Distribution | $ | 8,759,268.07 | 8.7592681 | ||||||||||||
| (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 | $ | 427,992,927.28 | 0.8559858546 | |||||||||||||
| Ending A-1 Note Balance | $ | 419,233,659.21 | 0.8384673184 | |||||||||||||
| Change | $ | 8,759,268.07 | 0.0175185361 | |||||||||||||
| Beginning Excluded Amount | $ | — | ||||||||||||||
| Ending Excluded Amount | $ | — | ||||||||||||||
| Change | $ | — | ||||||||||||||
| Beginning Pool Balance | $ | 431,338,937.46 | 0.8626657709 | |||||||||||||
| Ending Pool Balance | $ | 423,168,108.01 | 0.8463243412 | |||||||||||||
| Change | $ | 8,170,829.45 | 0.0163414296 | |||||||||||||
| Beginning Principal Balance | $ | 431,338,937.46 | 0.8626657709 | |||||||||||||
| Ending Principal Balance | $ | 423,168,108.01 | 0.8463243412 | |||||||||||||
| Change | $ | 8,170,829.45 | 0.0163414296 | |||||||||||||
| 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 | $ | 10.00 | 0.0000000200 | |||||||||||||
| Aggregate Liquidation Loss Amount | $ | 10.00 | 0.0000000200 | |||||||||||||
| Current Net Excess Spread Percentage | 0.1375 | % | ||||||||||||||
| 2 Month Average Net Excess Spread Percentage | 0.1628 | % | ||||||||||||||
| 3 Month Average Net Excess Spread Percentage | 0.1657 | % | ||||||||||||||
| Delinquencies | ||||||||||||||||
| # | $ | |||||||||||||||
| Two statement cycle dates: | 2 | $ | 38,703.92 | |||||||||||||
| Three statement cycle dates: | 2 | $ | 51,878.68 | |||||||||||||
| Four statement cycle dates: | — | $ | — | |||||||||||||
| Five statement cycle dates: | — | $ | — | |||||||||||||
| Six statement cycle dates: | 1 | $ | 28,793.05 | |||||||||||||
| Seven + statement cycle dates: | — | $ | — | |||||||||||||
| Foreclosures (included in aging above) | 1 | $ | 28,793.05 | |||||||||||||
| REO | — | $ | — | |||||||||||||
| Liquidation Loss Amount | — | $ | 10.00 | |||||||||||||
| Wachovia Bank, National Bank as Administrator | ||||||||||||||||
| Additional Information | UPB of 3 Largest Loans | ||||||||||||||||
| Net WAC Rate | 3.30 | % | $ | 750,000.00 | |||||||||||||
| Overcollateralization Target | $ | 5,028,793.05 | $ | 780,776.69 | |||||||||||||
| Beginning Overcollateralization | $ | 3,346,010.18 | $ | 818,686.31 | |||||||||||||
| Overcollateralization Amount | $ | 3,934,448.80 | |||||||||||||||
| Funding Account Ending Balance | $ | — | |||||||||||||||
| Interest Shortfalls | None | ||||||||||||||||
| Gross CPR (1 mo. Annualized) | 40.040 | % | Deficiency Amounts | None | |||||||||||||
| Net CPR (1 mo. Annualized) | 20.507 | % | Stepdown Event? | No | |||||||||||||
| Draw Rate (1 mo. Annualized) | 24.163 | % | LIBOR | 1.4500 | % | ||||||||||||
| WAM | 209.60 | Net Note Rate | 1.7000 | % | |||||||||||||
| AGE | 26.89 | ||||||||||||||||
Allocation of Collected Funds | |||||||||||||||||
| Interest Collections | Principal Collections | ||||||||||||||||
| Total Collected | $ | (1,420,852.39 | ) | Total Collected | $ | (17,999,021.15 | ) | ||||||||||
| Yield Maintenance Amount | $ | — | A-1 Principal | $ | 8,759,268.07 | ||||||||||||
| Servicing Fee | $ | 179,724.56 | Add’l Balance Increase | $ | — | ||||||||||||
| Enhancer Premium | $ | 46,365.90 | Net Draws | $ | 9,828,191.70 | ||||||||||||
| Additional Balance Interest | $ | — | Funding Account | $ | — | ||||||||||||
| A-1 Interest | $ | 606,323.31 | Excess as principal | $ | (588,438.62 | ) | |||||||||||
| Excess Interest | $ | 588,438.62 | Net | $ | (0.00 | ) | |||||||||||
Net | $ | — | |||||||||||||||