Wachovia Asset Securit Issuance LLC 2003-he3 TR Inactive
Filed: 28 Oct 04, 12:00am
Wachovia Asset Securitization Issuance, LLC Asset-Backed Notes, Series 2003-HE3 Statement to Securityholder Distribution Date: 10/25/04 Original Beginning Unpaid Ending Certificate Certificate Certificate Principal Total Certificate Class Cusip Rate Balance Balance Interest Principal Amount Distribution Balance A 92975TAA2 2.090000% 500,000,000.00 408,618,173.72 664,231.54 5,514,721.17 0.00 6,178,952.71 403,103,452.55 Factors per Thousand 817.23634744 1.32846308 11.02944234 12.35790542 806.20690510 Certificate n/a 0.000000% 0.00 4,534,985.37 47,651.12 0.00 0.00 47,651.12 5,028,927.00 Totals 500,000,000.00 408,618,173.72 711,882.66 5,514,721.17 0.00 6,226,603.83 403,103,452.55 - Page 1 - Bond Interest Information Type of Accrual Moody's S&P Fitch Class Cusip Certificate Period LIBOR Original Rating* Original Rating* Original Rating* A 92975TAA2 Senior/Variable 28/360 1.84000% Aaa AAA n/a * Original Ratings of the Offered Certificates per the Prospectus Supplement dated November 12, 2003 - Page 2 - Bond Interest Information Current Current Current Outstanding Cumulative Class Interest Due Interest Shortfall Shortfall Paid Shortfall to be Paid Interest Shortfall A 664,231.54 0.00 0.00 0.00 0.00 - Page 3 - Collection Activity Interest Interest Collected 1,424,135.98 (Additional Balance Interest) 0.00 (Relief Act Shortfalls) 0.00 Total Interest Collected 1,424,135.98 Principal Principal Collected 14,975,603.17 Net Liquidation Proceeds 0.00 Substitute Adjustment Amount 0.00 Other Principal Collected 0.00 (Additional Balance Increase) 0.00 (Draw Amounts) (9,956,721.20) Total Principal Collected 5,018,881.97 Additional Funds Interest Earnings from the Reserve Fund 0.00 Draws from the Policy 0.00 Yield Maintenance Payment 0.00 Total Additional Funds Collected 0.00 Total Available Collections 6,443,017.95 - Page 4 - Collateral Information Periodic Information Beginning Collateral Balance 413,153,159.09 Ending Collateral Balance 408,132,379.55 Current Liquidation Loss Amounts 1,897.57 Cumulative Liquidation Loss Amounts 3,639.01 Gross WAC 4.138% Net WAC 3.801% WAM 208 AGE 26 Gross CPR 35.792% Net CPR 13.642% Draw Rate 25.378% Original Information Collateral Balance 500,007,015.50 Number of Loans 9,940 Gross WAC 4.118% WAM 234 LIBOR 1.12000% Overcollateralization Information Overcollateralization Target Amount 5,028,927.00 Beginning Overcollateralization Amount 4,534,985.37 Ending Overcollateralization Amount 5,028,927.00 Overcollateralization Increase 493,941.63 Overcollateralization Decrease 0.00 - Page 5 - Additional Account Activity Funding Account Beginning Balance 0.00 Interest Earnings 0.00 Deposits 0.00 Withdrawals 0.00 Ending Balance 0.00 Page 6 Delinquency Information Delinquent: # $ % 30-59 Days 6 301,217.84 0.074% 60-89 Days 4 244,046.18 0.060% 90-119 Days 1 6,040.34 0.001% 120-149 Days 2 52,370.95 0.013% 150-179 Days 0 0.00 0.000% 180+ Days 1 28,927.00 0.007% Total 14 632,602.31 0.155% Foreclosure: # $ % 1 28,927.40 0.007% REO: # $ % 0 0.00 0.000% - Page 7 - Miscellaneous Reporting Items Fees Additional Information Servicing Fee 172,147.15 3 Largest Mortgage Loan Balances 2,432,050.35 Enhancer Premium 44,266.97 Additional Balances created during the first Indenture Trustee Expenses 0.00 Rapid Amortization Period 0.00 Paying Agent Expenses 0.00 Cumulative Liquidation Loss Amount % 0.001% Cumulative Subsequent Mortgage Loans 0.00 Total Fees 216,414.12 Deficiency Amount 0.00 Draws from Policy not yet Reimbursed 0.00 Percentage Interest Class A 100% Stepdown Cumulative Loss Test Met? (Yes / No) Yes Amortization Period Stepdown Date Active (Yes / No) No Revolving (Yes / No) No Stepdown Delinquency Test Met? (Yes / No) Yes Managed Amortization (Yes / No) Yes Rapid Amortization (Yes / No) No - Page 8 -