Wachovia Asset Securit Issuance LLC 2003-he3 TR Inactive
Filed: 29 Nov 05, 12:00am
Wachovia Asset Securitization Issuance, LLC Series 2003-HE3 Statement to Securityholders Distribution Date: 11/25/05 Distribution Summary Original Beginning Unpaid Ending Certificate Certificate Certificate Principal Total Certificate Class Cusip Rate Balance Balance Interest Principal Amount Distribution Balance A 92975TAA2 4.287500% 500,000,000.00 279,871,630.29 1,033,289.95 10,838,917.03 0.00 11,872,206.98 269,032,713.26 Factors per Thousand 559.74326058 2.06657990 21.67783406 23.74441396 538.06542652 Certificate n/a 0.000000% 0.00 5,222,390.43 406,242.12 0.00 0.00 406,242.12 5,222,390.43 Totals 500,000,000.00 279,871,630.29 1,439,532.07 10,838,917.03 0.00 12,278,449.10 269,032,713.26 Wachovia Bank, National Association Structured Finance Trust Services Patricia Glemba 401 South Tryon Street, 12th Floor Trust Officer Charlotte, North Carolina 28288-1179 (704) 383-6118 www.firstlinkabs.com Patricia.Glemba@Wachovia.com - Page 1 - 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 4.03750% 0.25000% Aaa AAA n/a Certificate n/a Residual - - - - - - 0 - Page 2 - Bond Interest Information Current Outstanding Current Current Class Cusip Interest Due Interest Carryforward Interest Carryforward Carryforward Paid A 92975TAA2 1,033,289.95 0.00 0.00 0.00 - Page 3 - Collection Activity Interest Interest Collected 1,588,640.67 (Additional Balance Interest) 0.00 (Relief Act Shortfalls) 0.00 Total Interest Collected 1,588,640.67 Principal Principal Collected 17,861,254.53 Net Liquidation Proceeds 0.00 Substitute Adjustment Amount 0.00 Other Principal Collected 0.00 (Additional Balance Increase) 0.00 (Draw Amounts) (7,022,337.50) Total Principal Collected 10,838,917.03 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 12,427,557.70 - Page 4 - Collateral Information Periodic Information Beginning Collateral Balance 285,094,020.72 Ending Collateral Balance 274,255,103.69 Current Liquidation Loss Amounts 0.00 Cumulative Liquidation Loss Amounts 225,652.34 Gross WAC 6.580% Net WAC 6.386% WAM 195 AGE 39 Gross CPR 53.994% Net CPR 37.194% Draw Rate 25.865% 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 5,222,390.43 Beginning Overcollateralization Amount 5,222,390.43 Ending Overcollateralization Amount 5,222,390.43 Overcollateralization Increase 0.00 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 11 614,483.32 0.224% 60-89 Days 1 34,524.74 0.013% 90-119 Days 3 410,719.28 0.150% 120-149 Days 0 0.00 0.000% 150-179 Days 2 38,224.20 0.014% 180+ Days 3 222,390.43 0.081% Total 20 1,320,341.97 0.481% Foreclosure: # $ % 5 260,614.60 0.095% REO: # $ % 0 0.00 0.000% - Page 7 - Additional Reporting Items Fees Additional Information Servicing Fee 118,789.18 # of Loans using a Promotional Rate 0 Enhancer Premium 30,319.43 Promotional Advances 0.00 Indenture Trustee Expenses 0.00 3 Largest Mortgage Loan Balances 2,501,968.01 Paying Agent Expenses 0.00 Additional Balances created during the first Rapid Amortization Period 0.00 Total Fees 149,108.60 Cumulative Liquidation Loss Amount % 0.045% 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 -