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: March 30, 2006
(Date of earliest event reported)
Banc of America Alternative Loan Trust 2006-3
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(Exact name of issuing entity as specified in its charter)
Banc of America Mortgage Securities, Inc.
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(Exact name of depositor as specified in its charter)
Bank of America, National Association
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(Exact name of sponsor as specified in its charter)
New York 333-132249-01 Applied For
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(State or other jurisdiction of (Commission File No. (IRS Employer
incorporation of isssuing entity) of issuing entiy) Indentification No.)
of issuing entity)
214 North Tryon Street, Charlotte, North Carolina 28255
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Address of principal executive offices (Zip Code)
Depositor's telephone number, including area code (704) 387-8239
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201 North Tryon Street, Charlotte, North Carolina, 28255
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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
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Attached as Exhibit 4.1 is the pooling and servicing agreement,
dated March 30, 2006 (the "Pooling and Servicing Agreement"), among Banc of
America Mortgage Securities, Inc. (the "Company"), as depositor, Bank of
America, National Association, as servicer, and Wells Fargo Bank, N.A., as
trustee. The Pooling and Servicing Agreement governs the Banc of America
Alternative Loan Trust 2006-3, Mortgage Pass-Through Certificates, Series 2006-3
(the "Certificates"), issued on March 30, 2006, including (i) the Class 1-CB-1,
Class 1-CB-R, Class 2-CB-1, Class 3-A-1, Class 3-A-2, Class 3-A-3, Class 3-A-4,
Class 3-A-5, Class 3-A-6, Class 3-A-7, Class 3-IO, Class 3-PO, Class 4-CB-1,
Class 5-CB-1, Class 6-A-1, Class 6-IO, Class 6-PO, Class CB-IO, Class CB-PO,
Class B-1, Class B-2 and Class B-3 Certificates (the "Public Certificates"),
having an aggregate initial class certificate balance of $322,541,346 and (ii)
the Class B-4, Class B-5 and Class B-6 Certificates (the "Private
Certificates"), having an aggregate initial class certificate balance of
$3,258,887.
The Public Certificates were sold to Banc of America Securities LLC
(the "Underwriter"), pursuant to an underwriting agreement, dated March 27, 2006
(the "Underwriting Agreement"), among the Company, Bank of America, National
Association and the Underwriter. A copy of the Underwriting Agreement is
attached as Exhibit 1.1.
The Private Certificates were sold to Banc of America Securities LLC
on March 30, 2006 in a transaction exempt from registration under the Securities
Act of 1933, as amended, pursuant to Section 4(2) thereof. The net proceeds of
the sale of the Private Certificates were applied to the purchase of the
mortgage loans from Bank of America, National Association.
The mortgage loans underlying the Certificates were purchased by the
Company from Bank of America, National Association pursuant to a mortgage loan
purchase agreement, dated March 30, 2006 (the "Mortgage Loan Purchase
Agreement"), between the Company and Bank of America, National Association. A
copy of the Mortgage Loan Purchase Agreement is attached as Exhibit 4.2.
Wells Fargo Bank, N.A., as trustee, on behalf of the Banc of America
Alternative Loan Trust 2006-3, entered into a yield maintenance agreement with
Bank of America, National Association, as counterparty, for the benefit of the
holders of the Class 3-A-1 Certificates. A copy of the Yield Maintenance
Agreement is attached as Exhibit 10.1.
ITEM 9.01 Financial Statements and Exhibits
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(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
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(1.1) Underwriting Agreement, dated March 27, 2006,
among the Company, Bank of America, National
Association and the Underwriter.
(4.1) Pooling and Servicing Agreement, dated March 30,
2006, among Banc of America Mortgage Securities,
Inc., Bank of America, National Association and
Wells Fargo Bank, N.A., as trustee.
(4.2) Mortgage Loan Purchase Agreement, dated
March 30, 2006, between Banc of America Mortgage
Securities, Inc. and Bank of America, National
Association.
(10.1) Yield Maintenance Agreement, dated March 20,
2006, between Wells Fargo Bank, N.A., as
trustee, on behalf of Banc of America
Alternative Loan Trust 2006-3, and Bank
of America, National Association, as
counterparty.
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, 2006
By: /s/ Judy Lowman
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Name: Judy Lowman
Title: Vice President
INDEX TO EXHIBITS
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Exhibit No. Description
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(1.1) Underwriting Agreement, dated March 27, 2006, among the
Company, Bank of America, National Association and the
Underwriter.
(4.1) Pooling and Servicing Agreement, dated March 30, 2006, among
Banc of America Mortgage Securities, Inc., Bank of America,
National Association and Wells Fargo Bank, N.A., as trustee.
(4.2) Mortgage Loan Purchase Agreement, dated March 30, 2006,
between Banc of America Mortgage Securities, Inc. and Bank
of America, National Association.
(10.1) Yield Maintenance Agreement, dated March 20, 2006, between
Wells Fargo Bank, N.A., as trustee, on behalf of Banc of
America Alternative Loan Trust 2006-3, and Bank of America,
National Association, as counterparty.