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: May 27, 2004
(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) 387-8239
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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
On May 27, 2004, Banc of America Mortgage Securities, Inc., a Delaware
corporation (the "Registrant"), sold Banc of America Alternative Loan Trust
2004-5 Mortgage Pass-Through Certificates, Series 2004-5, Class 1-A-1, Class
1-A-R, Class 1-A-LR, Class 2-A-1, Class CB-IO, Class 3-A-1, Class 3-A-2, Class
3-A-3, Class 4-A-1, Class 4-A-2, Class 4-IO, Class PO, Class 30-B-IO, Class
30-B-1, Class 30-B-2, Class 30-B-3, Class 4-B-1, Class 4-B-2 and Class 4-B-3
(the "Offered Certificates"), having an aggregate original principal balance of
$473,563,392.00. The Offered Certificates were issued pursuant to a Pooling and
Servicing Agreement, dated May 27, 2004, among the Registrant, Bank of America,
N.A., as servicer ("BANA"), and Wells Fargo Bank, N.A., as trustee (the
"Agreement"), a copy of which is filed as an exhibit hereto. Mortgage
Pass-Through Certificates, Series 2004-5, Class SES, Class 30-B-4, Class 30-B-5
Class 30-B-6, Class 4-B-4, Class 4-B-5 and Class 4-B-6 Certificates, having an
aggregate initial principal balance of $4,985,623.00 (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 98.96% 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 distributions on which are subordinated to distributions on the
Offered 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 two separate REMICs for federal
income tax purposes (the "Upper-Tier REMIC" and the "Lower-Tier REMIC" and each,
a "REMIC"). The Class 1-A-1, Class 2-A-1, Class 3-A-1, Class 3-A-2, Class 3-A-3,
Class 4-A-1, Class 4-A-2, Class 4-IO, Class 30-B-IO, Class 30-B-1, Class 30-B-2,
Class 30-B-3, Class 30-B-4, Class 30-B-5, Class 30-B-6, Class 4-B-1, Class
4-B-2, Class 4-B-3, Class 4-B-4, Class 4-B-5 and Class 4-B-6 Certificates and
each Class IO, Class PO and Class SES Component will be treated as "regular
interests" in the REMIC and the Class 1-A-R and Class 1-A-LR Certificates will
be treated as the "residual interest" in the Upper-Tier REMIC and the Lower-Tier
REMIC, respectively.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
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(EX-4) Pooling and Servicing Agreement, dated
May 27, 2004, among Banc of America
Mortgage Securities, Inc., Bank of
America, N.A. and Wells Fargo Bank, N.A.,
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.
May 27, 2004
By: /s/ Judy Lowman
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Name: Judy Lowman
Title: Vice President
INDEX TO EXHIBITS
Paper (P) or
Exhibit No. Description Electronic (E)
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(EX-4) Pooling and Servicing Agreement, E
dated May 27, 2004 among Banc of
America Mortgage Securities,
Inc., Bank of America, N.A. and
Wells Fargo Bank, N.A., as
trustee.