Wachovia Asset Securit Issuance LLC 2003-he3 TR Inactive
Filed: 30 Mar 05, 12:00am
Wachovia Asset Securitization Issuance, LLC Series 2003-HE3 Statement to Securityholders Distribution Date: 02/25/05 Distribution Summary Original Beginning Unpaid Ending Certificate Certificate Certificate Principal Total Certificate Class Cusip Rate Balance Balance Interest Principal Amount Distribution Balance A 92975TAA2 2.780000% 500,000,000.00 374,440,726.44 896,369.49 9,535,082.56 0.00 10,431,452.05 364,905,643.88 Factors per Thousand 748.88145288 1.79273898 19.07016512 20.86290410 729.81128776 Certificate n/a 0.000000% 0.00 5,052,776.63 377,273.98 0.00 0.00 377,273.98 5,052,776.63 Totals 500,000,000.00 374,440,726.44 1,273,643.47 9,535,082.56 0.00 10,808,726.03 364,905,643.88 Wachovia Bank, National Association Structured Finance Trust Services Greg Yanok 401 South Tryon Street, 12th Floor Vice President Charlotte, North Carolina 28288-1179 Phone: 704-383-9568 www.firstlinkabs.com - Page 1 - Gregory.Yanok@Wachovia.com Bond Interest Information Type of Accrual Moody's S & P Fitch Class Cusip Certificate Period LIBOR Margin Original Rating* Original Rating* Original Rating A 92975TAA2 Senior/Variable 31/360 2.53000% 0.25000% Aaa AAA n/a Certificate n/a Residual - - - - - - * Original Ratings of the Offered Certificates per the Prospectus Supplement dated November 12, 2003 - Page 2 - Bond Interest Information Current Outstanding Current Current Class Cusip Interest Due Interest Carryforward Interest Carryforward Carryforward Paid A 92975TAA2 896,369.49 0.00 0.00 0.00 - Page 3 - Collection Activity Interest Interest Collected 1,617,014.56 (Additional Balance Interest) 0.00 (Relief Act Shortfalls) 0.00 Total Interest Collected 1,617,014.56 Principal Principal Collected 17,596,924.86 Net Liquidation Proceeds 0.00 Substitute Adjustment Amount 0.00 Other Principal Collected 0.00 (Additional Balance Increase) 0.00 (Draw Amounts) (8,206,526.68) Total Principal Collected 9,390,398.18 Additional Funds Additional Funds from the Funding Account 0.00 Draws from the Policy 0.00 Yield Maintenance Payment 0.00 Total Additional Funds Collected 0.00 Total Available Collections 11,007,412.74 - Page 4 - Collateral Information Periodic Information Beginning Collateral Balance 379,493,503.07 Ending Collateral Balance 370,070,460.02 Current Liquidation Loss Amounts 32,644.87 Cumulative Liquidation Loss Amounts 72,468.38 Gross WAC 5.120% Net WAC 4.625% WAM 204 AGE 30 Gross CPR 43.433% Net CPR 25.968% Draw Rate 23.076% 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 5,164,816.14 Beginning Overcollateralization Amount 5,052,776.63 Ending Overcollateralization Amount 5,164,816.14 Overcollateralization Increase 112,039.51 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 Interest Earnings to Collection Account 0.00 Ending Balance 0.00 - Page 6 - Delinquency Information Delinquent: # $ % 30-59 Days 4 266,904.82 0.072% 60-89 Days 2 42,317.19 0.011% 90-119 Days 0 0.00 0.000% 120-149 Days 1 10,110.54 0.003% 150-179 Days 0 0.00 0.000% 180+ Days 4 164,816.14 0.045% Total 11 484,148.69 0.131% Foreclosure: # $ % 4 164,816.10 0.045% REO: # $ % 0 0.00 0.000% * Foreclosures are included in the delinquency totals - Page 7 - Additional Reporting Items Fees Additional Information Servicing Fee 158,122.29 # of Loans using a Promotional Rate 0 Enhancer Premium 40,564.41 Promotional Advances 0.00 Indenture Trustee Expenses 0.00 3 Largest Mortgage Loan Balances 2,431,550.17 Paying Agent Expenses 0.00 Additional Balances created during the first Rapid Amortization Period 0.00 Total Fees 198,686.71 Cumulative Liquidation Loss Amount % 0.014% Cumulative Subsequent Mortgage Loans 0.00 Deficiency Amount 0.00 Draws from Policy not yet Reimbursed 0.00 Percentage Interest Class A 100.00% Stepdown Cumulative Loss Test Met? (Yes / No) Yes Stepdown Date Active (Yes / No) No Amortization Period Stepdown Delinquency Test Met? (Yes / No) Yes Revolving (Yes / No) No Managed Amortization (Yes / No) Yes Rapid Amortization (Yes / No) No - Page 8 -