SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: November 25, 2003
(Date of earliest event reported)
Commission File No. 333-105940
Banc of America Mortgage Securities, Inc.
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Delaware 36-4514369
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(State of Incorporation) (I.R.S. Employer Identification No.)
201 North Tryon Street, Charlotte, North Carolina 28255
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Address of principal executive offices (Zip Code)
(704) 387-2111
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Registrant's Telephone Number, including area code
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(Former name, former address and former fiscal year,
if changed since last report)
ITEM 5. Other Events
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On November 25, 2003, Banc of America Mortgage Securities, Inc., a
Delaware corporation (the "Registrant"), sold Mortgage Pass-Through
Certificates, Series 2003-9, Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-A-4,
Class 1-A-5, Class 1-A-6, Class 1-A-7, Class 1-A-8, Class 1-A-9, Class 1-A-10,
Class 1-A-11, Class 1-A-12, Class 1-A-13, Class 1-A-14, Class 1-A-15, Class
1-A-16, Class 1-A-17, Class 1-A-18, Class 1-A-19, Class 1-A-20, Class 1-A-21,
Class 1-A-22, Class 1-A-R, Class 1-A-MR, Class 1-A-LR, Class 2-A-1, Class 2-A-2,
Class 2-A-3, Class 2-A-4, Class 2-A-5, Class 3-A-1, Class 4-A-1, Class 4-A-2,
Class A-PO, Class A-15-WIO, Class A-30-WIO, Class 1-B-1, Class 1-B-2, Class
1-B-3, Class X-B-1, Class X-B-2, Class X-B-3, Class 3-B-1, Class 3-B-2 and Class
3-B-3 (the "Offered Certificates"), having an aggregate original principal
balance of $712,218,605.00. The Offered Certificates were issued pursuant to a
Pooling and Servicing Agreement, dated November 25, 2003, among the Registrant,
Bank of America, N.A., as servicer ("BANA") and Wells Fargo Bank Minnesota,
National Association, as trustee (the "Agreement"), a copy of which is filed as
an exhibit hereto. Mortgage Pass-Through Certificates, Series 2003-9, Class SES,
Class 1-B-4, Class 1-B-5, Class 1-B-6, Class X-B-4, Class X-B-5, Class X-B-6,
Class 3-B-4, Class 3-B-5 and Class 3-B-6 Certificates, having an aggregate
initial principal balance of $3,140,338.00 (the "Private Certificates" and,
together with the Offered Certificates, the "Certificates"), were also issued
pursuant to the Agreement.
As of the date of initial issuance, the Offered Certificates
evidenced an approximate 99.56% undivided interest in a trust (the "Trust"),
consisting principally of four pools of fixed interest rate, conventional,
monthly pay, fully-amortizing, one- to four-family residential first mortgage
loans. The remaining undivided interests in the Trust are evidenced by the
Private Certificates.
Interest on the Offered Certificates will be distributed on each
Distribution Date (as defined in the Agreement). Monthly distributions in
reduction of the principal balance of the Offered Certificates will be allocated
to the Offered Certificates in accordance with the priorities set forth in the
Agreement. Distributions of interest and in reduction of principal balance on
any Distribution Date will be made to the extent that the related Pool
Distribution Amount is sufficient therefor.
Elections will be made to treat the Trust as three separate REMICs
for federal income tax purposes (the "Upper-Tier REMIC", the "Middle-Tier REMIC"
and the "Lower-Tier REMIC," and each, a "REMIC"). The Class 1-A-1, Class 1-A-2,
Class 1-A-3, Class 1-A-4, Class 1-A-5, Class 1-A-6, Class 1-A-7, Class 1-A-8,
Class 1-A-9, Class 1-A-10, Class 1-A-11, Class 1-A-12, Class 1-A-13, Class
1-A-14, Class 1-A-15, Class 1-A-16, Class 1-A-17, Class 1-A-18, Class 1-A-19,
Class 1-A-20, Class 1-A-21, Class 1-A-22, Class 1-A-23, Class 1-A-24, Class
1-A-25, Class 1-A-26, Class 2-A-1, Class 2-A-2, Class 2-A-3, Class 2-A-4, Class
2-A-5, Class 3-A-1, Class 4-A-1, Class 4-A-2, Class A-PO, Class A-15-WIO, Class
A-30-WIO, Class 1-B-1, Class 1-B-2, Class 1-B-3, Class 1-B-4, Class 1-B-5, Class
1-B-6, Class X-B-1, Class X-B-2, Class X-B-3, Class X-B-4, Class X-B-5, Class
X-B-6, Class 3-B-1, Class 3-B-2, Class 3-B-3, Class 3-B-4, Class 3-B-5 and Class
3-B-6 Certificates and each Class A-PO and Class SES Component will be treated
as "regular interests" in the Upper-Tier REMIC and the Class 1-A-R, Class 1-A-MR
and Class 1-A-LR Certificates will be treated as the "residual interest" in the
Upper-Tier REMIC, Middle-Tier REMIC and the Lower-Tier REMIC, respectively.
ITEM 7. Financial Statements and Exhibits
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(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
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(EX-4) Pooling and Servicing Agreement, dated
November 25, 2003, among Banc of America
Mortgage Securities, Inc., Bank of
America, N.A. and Wells Fargo Bank
Minnesota, National Association, as
trustee.
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BANC OF AMERICA MORTGAGE SECURITIES, INC.
November 25, 2003
By: /s/ Judy Lowman
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Name: Judy Lowman
Title: Vice President
INDEX TO EXHIBITS
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Paper (P) or
Exhibit No. Description Electronic (E)
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(EX-4) Pooling and Servicing E
Agreement, dated November 25, 2003
among Banc of America Mortgage
Securities, Inc., Bank of
America, N.A. and Wells Fargo
Bank Minnesota, National
Association, as trustee.