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: March 30, 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 March 30, 2004, Banc of America Mortgage Securities, Inc., a
Delaware corporation (the "Registrant"), sold Mortgage Pass-Through
Certificates, Series 2004-C, Class 1-A-1, Class 1-A-R, Class 1-A-LR, Class
2-A-1, Class 2-A-2, Class 3-A-1, Class B-1, Class B-2 and Class B-3 (the
"Offered Certificates"), having an aggregate original principal balance of
$722,952,100.00. The Offered Certificates were issued pursuant to a Pooling and
Servicing Agreement, dated March 30, 2004, among the Registrant, Bank of
America, N.A., as servicer ("BANA") and Wells Fargo Bank, National Association,
as trustee (the "Agreement"), a copy of which is filed as an exhibit hereto.
Mortgage Pass-Through Certificates, Series 2004-C, Class SES, Class 1-IO, Class
2-IO, Class 3-IO, Class B-4, Class B-5 and Class B-6 Certificates, having an
aggregate initial principal balance of $4,363,903.00 (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 99.40% undivided interest in a trust (the "Trust"),
consisting principally of three pools of adjustable interest rate, 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 Pool Distribution
Amount (as defined in the Agreement) 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 1-IO, Class 2-A-1, Class 2-A-2,
Class 2-IO, Class 3-A-1, Class 3-IO, Class B-1, Class B-2, Class B-3, Class B-4,
Class B-5 and Class B-6 Certificates and each component of the Class SES
Certificates 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
March 30, 2004, among Banc of America
Mortgage Securities, Inc., Bank of
America, N.A. and Wells Fargo Bank,
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.
March 30, 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 E
Agreement, dated March 30, 2004,
among Banc of America Mortgage
Securities, Inc., Bank of
America, N.A. and Wells Fargo
Bank, National Association, as
trustee.