UNITED STATES
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: January 27, 2005
(Date of earliest event reported)
Banc of America Mortgage Securities, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 333-118843 36-4514369
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(State or other jurisdiction of incorporation) (Commission File No.) (IRS Employer Identification No.)
201 North Tryon Street, Charlotte, North Carolina 28255
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Address of principal executive offices (Zip Code)
Registrant's telephone number, including area code (704) 387-8239
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01. Other Events
On January 27, 2005, Banc of America Mortgage Securities, Inc., a Delaware
corporation (the "Registrant"), sold Banc of America Alternative Loan Trust
2005-1 Mortgage Pass-Through Certificates, Series 2005-1, Class 1-CB-1, Class
1-CB-2, Class 1-CB-3, Class 1-CB-4, Class 1-CB-5, Class 1-CB-R, Class 1-CB-LR,
Class CB-IO, Class 30-PO, Class 2-A-1, Class 15-PO, Class 15-IO, Class B-1,
Class B-2 and Class B-3 (the "Offered Certificates"), having an aggregate
original principal balance of $275,477,157.00. The Offered Certificates were
issued pursuant to a Pooling and Servicing Agreement, dated January 27, 2005,
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 2005-1, Class B-4,
Class B-5 and Class B-6 Certificates, having an aggregate initial principal
balance of $3,064,926.00 (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 98.90% undivided interest in a trust (the "Trust"), consisting
principally of two 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 "Lower-Tier REMIC" and "Upper-Tier REMIC" and each a
"REMIC"). The Class 1-CB-1, Class 1-CB-2, Class 1-CB-3, Class 1-CB-4, Class
1-CB-5, Class CB-IO, Class 30-PO, Class 2-A-1, Class 15-PO, Class 15-IO, Class
B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates will
be treated as "regular interests" in the Upper-REMIC and the Class 1-CB-R and
Class 1-CB-LR Certificates will be treated as the "residual interest" in the
Upper-Tier REMIC and "Lower-Tier REMIC, respectively.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
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(4) Pooling and Servicing Agreement, dated
January 27, 2005, 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.
January 27, 2005
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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(4) Pooling and Servicing Agreement, E
dated January 27, 2005 among
Banc of America Mortgage
Securities, Inc., Bank of
America, N.A. and Wells Fargo
Bank, N.A., as trustee.