Filed Pursuant to Rule 433
Registration File No.: 333-132249
[Banc of America Securities Logo]
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The asset-backed securities referred to in these materials, and the asset
pools backing them, are subject to modification or revision (including the
possibility that one or more classes of securities may be split, combined or
eliminated at any time prior to issuance or availability of a final prospectus)
and are offered on a "when, as and if issued" basis. You understand that, when
you are considering the purchase of these securities, a contract of sale will
come into being no sooner than the date on which the relevant class has been
priced and we have confirmed the allocation of securities to be made to you; any
"indications of interest" expressed by you, and any "soft circles" generated by
us, will not create binding contractual obligations for you or us.
Because the asset-backed securities are being offered on a "when, as and
if issued" basis, any contract of sale will terminate, by its terms, without any
further obligation or liability between us, if the securities themselves, or the
particular class to which the contract relates, are not issued. In addition,
since the asset-backed securities and the asset pools backing them are subject
to modification or revision (including the possibility that one or more classes
of securities may be split, combined or eliminated at any time prior to issuance
or availability of a final prospectus), any such contract also is conditioned
upon the understanding that no material change will occur with respect to the
relevant class of securities prior to the closing date. If a material change
does occur with respect to such class, our contract will terminate, by its
terms, without any further obligation or liability between us (the "Automatic
Termination"). If an Automatic Termination occurs, we will provide you with
revised offering materials reflecting the material change and give you an
opportunity to purchase such class. To indicate your interest in purchasing the
class, you must communicate to us your desire to do so within such timeframe as
may be designated in connection with your receipt of the revised offering
materials.
Mortgage Pass-Through Certificates, Series 2006-8
Banc of America Alternative Loan Trust 2006-8
Issuing Entity
Banc of America Mortgage Securities, Inc.
Depositor
Bank of America, National Association
Sponsor and Servicer
[Bank of America Logo]
October 12, 2006
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
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DISCLAIMER
----------
This free writing prospectus is being delivered to you solely to provide you
with information about the offering of the securities referred to in this free
writing prospectus and to solicit an offer to purchase the securities, when, as
and if issued. Any such offer to purchase made by you will not be accepted and
will not constitute a contractual commitment by you to purchase any of the
securities until we have accepted your offer to purchase securities. You may
withdraw your offer to purchase securities at any time prior to our acceptance
of your offer.
The information in this free writing prospectus supersedes information contained
in any prior similar free writing prospectus relating to these securities prior
to the time of your commitment to purchase.
This free writing prospectus is not an offer to sell or solicitation of an offer
to buy these securities in any state where such offer, solicitation or sale is
not permitted.
IRS CIRCULAR 230 NOTICE
THIS FREE WRITING PROSPECTUS IS NOT INTENDED OR WRITTEN TO BE USED,
AND CANNOT BE USED, FOR THE PURPOSE OF AVOIDING U.S. FEDERAL, STATE
OR LOCAL TAX PENALTIES. THIS FREE WRITING PROSPECTUS IS WRITTEN AND
PROVIDED BY THE UNDERWRITER IN CONNECTION WITH THE PROMOTION OR
MARKETING OF THE TRANSACTIONS OR MATTERS ADDRESSED HEREIN. INVESTORS
SHOULD SEEK ADVICE BASED ON THEIR PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR.
The information contained in this free writing prospectus should be read in
conjunction with the information contained in the Depositor's most recent base
prospectus and the information provided by Banc of America Securities LLC (the
"Underwriter"). The Depositor's most recent base prospectus referred to in this
free writing prospectus is the base prospectus dated September 26, 2006 attached
to the prospectus supplement dated September 26, 2006 relating to the Banc of
America Alternative Loan Trust 2006-7 Mortgage Pass-Through Certificates, Series
2006-7 filed with the SEC under Rule 424(b)(5) of the Securities Act (SEC File
No. 333-132249-07). You should carefully read this free writing prospectus and
the base prospectus, as well as the information provided by the Underwriter,
before you make any investment decision. Capitalized terms that are used but not
defined in this free writing prospectus have the meaning given to those terms in
the base prospectus.
ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW THIS DOCUMENT ARE NOT
APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR
OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION
BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
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Preliminary Summary of Terms
----------------------------
Transaction............................... Banc of America Alternative Loan
Trust 2006-8 Mortgage Pass-Through
Certificates, Series 2006-8
Issuing Entity............................ Banc of America Alternative Loan
Trust 2006-8
Depositor................................. Banc of America Mortgage Securities,
Inc.
Underwriter............................... Banc of America Securities LLC
Sponsor and Servicer...................... Bank of America, National
Association
Trustee................................... Wells Fargo Bank, N.A.
Rating Agencies........................... At least two of Standard & Poor's,
Moody's and/or Fitch Ratings will
rate the offered Senior
Certificates. At least one of the
above Rating Agencies will rate the
offered Subordinate Certificates.
Senior Certificates....................... The Senior Certificates will consist
of three or more classes of
certificates, one of which will be
the residual certificate and at
least one of which will be ratio
strip certificates. One or more
classes of certificates may be
comprised of two or more components.
The components of a class are not
severable. The Senior Certificates
(or in the case of a class of Senior
Certificates comprised of
components, the components) may be
divided into two or more groups in
which case each group will have a
corresponding group of Subordinate
Certificates which may or may not be
shared with one or more other groups
of Senior Certificates.
Senior Non-PO Certificates................ The Senior Certificates (other than
any Ratio Strip Certificates or
components thereof).
Subordinate Certificates.................. If the Senior Certificates are
divided into multiple groups, the
Subordinate Certificates may or may
not consist of multiple groups. If
there is only one group of
Subordinate Certificates, the
Subordinate Certificates will
support all of the Senior
Certificates. If there are multiple
groups of Subordinate Certificates,
each group will support one or more
groups of Senior Certificates. Each
class of Subordinate Certificates is
also subordinated to those classes
of Subordinate Certificates within
its group, if any, higher in order
of payment priority.
Offered Certificates...................... Senior Certificates and Subordinate
Certificates rated BBB- or Baa3 or
better
Expected Closing Date..................... October 30, 2006
Banc of America Securities LLC 3
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
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Preliminary Summary of Terms
----------------------------
Expected Investor Closing Date............ October 31, 2006
Distribution Date......................... 25th of each month, or the next
succeeding business day (First
Distribution Date: November 27,
2006)
Cut-off Date.............................. October 1, 2006
Determination Date........................ For any Distribution Date, the 16th
day of the month in which the
Distribution Date occurs or, if that
day is not a business day, the
immediately preceding business day.
Record Date............................... For any Distribution Date, the close
of business on the last business day
of the month preceding the month of
that Distribution Date.
Day Count................................. 30/360
Exchangeable Certificates
and Exchangeable REMIC
Certificates.............................. If indicated in the prospectus
supplement, a class or combination
of classes of exchangeable REMIC
certificates may be exchangeable for
certain class or classes of
exchangeable certificates in certain
combinations specified in the
prospectus supplement.
Clearing.................................. DTC, Clearstream and Euroclear.
Denominations:
Original Incremental
Certificate Form Minimum Denominations Denominations
---------------------------------------------------------------
Senior Certificates (other than Book Entry $1,000 $1
any Principal Only Certificates,
Interest Only Certificates and
Special Retail Certificates)
Interest Only Certificates Book Entry $1,000,000 (notional $1 or N/A
amount) or size of class, if
less than $1,000,000
Special Retail Certificates Book Entry $1,000 $1,000
Principal Only Certificates and Book Entry $25,000 $1
Subordinate Certificates
Banc of America Securities LLC 4
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
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Preliminary Summary of Terms
----------------------------
SMMEA Eligibility......................... The Senior Certificates and the most
senior class or classes of
Subordinate Certificates are
expected to constitute "mortgage
related securities" for purposes of
SMMEA.
ERISA Eligibility......................... A fiduciary or other person acting
on behalf of any employee benefit
plan or arrangement, including an
individual retirement account,
subject to the Employee Retirement
Income Security Act of 1974, as
amended ("ERISA"), the Code or any
federal, state or local law
("Similar Law") which is similar to
ERISA or the Code (collectively, a
"Plan") should carefully review with
its legal advisors whether the
purchase or holding of an Offered
Certificate could give rise to a
transaction prohibited or not
otherwise permissible under ERISA,
the Code or Similar Law.
The U.S. Department of Labor has
extended to Banc of America
Securities LLC an administrative
exemption (the "Exemption") from
certain of the prohibited
transaction rules of ERISA and the
related excise tax provisions of
Section 4975 of the Code with
respect to the initial purchase, the
holding and the subsequent resale by
certain Plans of certificates in
pass-through trusts that consist of
certain receivables, loans and other
obligations that meet the conditions
and requirements of the Exemption.
The Exemption may cover the
acquisition and holding of the
Senior Certificates (other than the
residual certificates) by the Plans
to which it applies provided that
all conditions of the Exemption
other than those within the control
of the investors are met. In
addition, as of the date hereof,
there is no single mortgagor that is
the obligor on 5% of the initial
balance of the Mortgage Pool.
If there are Mortgage Loans with
loan-to-value ratios in excess of
100% in the Mortgage Pool or in a
loan group within the Mortgage Pool,
the Exemption will not cover the
acquisition and holding of the
related offered Super Senior Support
or Subordinate Certificates.
Prospective Plan investors should
consult with their legal advisors
concerning the impact of ERISA, the
Code and Similar Law, the
applicability of PTE 83-1 and the
Exemption, and the potential
consequences in their specific
circumstances, prior to making an
investment in the Offered
Certificates. Moreover, each Plan
fiduciary should determine whether
under the governing plan instruments
and the applicable fiduciary
standards of investment prudence and
diversification, an investment in
the Offered Certificates is
appropriate for the Plan, taking
into account the overall investment
policy of the Plan and the
composition of the Plan's investment
portfolio.
Banc of America Securities LLC 5
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
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Preliminary Summary of Terms
----------------------------
Tax Structure............................. For federal income tax purposes, the
Trust will be treated as one or more
"real estate mortgage investment
conduits" (each, a "REMIC").
o The Senior Certificates (other
than the residual certificate
and any exchangeable
certificates) and the
Subordinate Certificates will
constitute "regular interests"
in a REMIC and will be treated
as newly-originated debt
instruments for most federal
income tax purposes.
o Generally, for a class of
component certificates, each
component, rather than the
class itself, will constitute
a regular interest in a REMIC.
o The residual certificate will
represent the sole "residual
interest" in each REMIC.
You must report income received on
your Offered Certificates as it
accrues from Distribution Date to
Distribution Date, even if it is
before such income is distributed in
cash to you.
Certain classes of Offered
Certificates may be issued with
"original issue discount." If your
class of Offered Certificates is
issued with original issue discount,
you must report original issue
discount income over the life of
your Certificate, often well before
such income is distributed in cash
to you.
If you hold an Offered Certificate
that has the benefit of a yield
maintenance agreement and is
entitled to certain payments from a
reserve account, you will be treated
as owning two assets, a REMIC
regular interest and the right to
receive payments from the reserve
fund and will be required to account
separately for each of these assets
for federal income tax purposes.
If you hold an Offered Certificate
that is an exchangeable certificate,
you should be aware that the
arrangement under which any
exchangeable certificates are
created will be classified as a
grantor trust and each class of
exchangeable certificates so created
will represent beneficial ownership
of an interest in each related
exchangeable REMIC certificate.
Optional Termination Date................. On any Distribution Date on which
the aggregate Stated Principal
Balance of the Mortgage Loans is
less than 10% of the initial
aggregate unpaid principal balance
of the Mortgage Loans as of the
Cut-off Date, the Depositor may, at
its option, subject to certain
conditions, purchase the Mortgage
Loans, which would effect an early
retirement of the Certificates.
Banc of America Securities LLC 6
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
If the Mortgage Loans are divided
into multiple loan groups with more
than one set of Subordinate
Certificates, the Depositor may, at
its option, subject to certain
conditions, purchase the Mortgage
Loans in one or some of the loan
groups, which would effect an early
retirement of only the related
Certificates.
The Pooling Agreement..................... The Certificates will be issued
pursuant to a Pooling and Servicing
Agreement (the "Pooling Agreement")
to be dated the Closing Date, among
the Depositor, the Servicer and the
Trustee.
The Mortgage Pool......................... The "Mortgage Pool" will consist of
fixed interest rate,
fully-amortizing mortgage loans (the
"Mortgage Loans") secured by first
liens on one- to four-family
residential properties. All of the
Mortgage Loans were originated or
acquired by Bank of America,
National Association, which is an
affiliate of the Depositor and Banc
of America Securities LLC. In
addition, certain of the Mortgage
Loans were originated using
underwriting standards that are
different from, and in certain
respects, less stringent than the
general underwriting standards of
Bank of America, National
Association. See "The Mortgage Loan
Programs--Mortgage Loan
Underwriting" in the base
prospectus.
The Mortgage Pool may be divided
into multiple loan groups.
The Mortgage Loans........................ The Mortgage Loans consist of fixed
interest rate, fully amortizing
mortgage loans secured by first
liens on one- to four-family
residential properties.
Substantially all of the Mortgage
Loans will have original terms to
stated maturity of approximately 10
to 40 years.* Borrowers are
permitted to prepay their Mortgage
Loans, in whole or in part, at any
time. If indicated in the Collateral
Summary at the end of this Free
Writing Prospectus, certain of the
Mortgage Loans may be subject to
prepayment premiums. Accordingly,
the actual date on which any
Mortgage Loan is paid in full may be
earlier than the stated maturity
date due to unscheduled payments of
principal. See the Collateral
Summary at the end of this Free
Writing Prospectus for more
information about the Mortgage
Loans.
Yield Maintenance Agreements.............. The Trustee on behalf of the Trust
may enter into one or more yield
maintenance agreements (each, a
"Yield Maintenance Agreement") with
one or more counterparties (each, a
"Counterparty") for the benefit of
one or more classes. With respect to
each Yield Maintenance Agreement for
any Distribution Date (other than
the initial Distribution Date) if
LIBOR, as calculated for the
Interest Accrual Period related to
such Distribution Date, exceeds a
designated strike percentage, the
- ------------------------
* Approximately 6.65% of the Mortgage Loans will have original terms to
stated maturity of approximately 40 years.
Banc of America Securities LLC 7
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
Counterparty will be obligated to
pay to the Trustee, for deposit into
the related Reserve Fund, an amount
equal to the product of (a) the
amount by which (i) the lesser of
LIBOR and a designated maximum
percentage exceeds (ii) the
designated strike percentage, (b)
the lesser of the applicable Class
Balance(s) and related notional
amount as set forth for such
Distribution Date in the related
Yield Maintenance Agreement and (c)
one-twelfth.
Pursuant to the Pooling Agreement,
the Trustee will establish a
separate trust account (the "Reserve
Fund") for deposit of any payments
that it may receive under a Yield
Maintenance Agreement. Each Reserve
Fund is part of the trust fund but
will not be an asset of any REMIC.
Amounts on deposit in a Reserve Fund
will be used to make certain
payments on a specified Class or
Classes of Certificates that have
the benefit of a Yield Maintenance
Agreement.
Compensating Interest..................... Pursuant to the Pooling Agreement,
the aggregate Servicing Fee payable
to the Servicer for any month will
be reduced (but not below zero) by
an amount equal to the lesser of (i)
the aggregate of the Prepayment
Interest Shortfalls for such
Distribution Date and (ii)
one-twelfth of 0.25% of the
aggregate Stated Principal Balance
of the Mortgage Loans as of the due
date in the month preceding the
month of such Distribution Date
(such amount, the "Compensating
Interest").
If a group of Subordinate
Certificates supports multiple
groups of Senior Certificates,
Compensating Interest will be
determined on an aggregate basis
with respect to all related loan
groups. If a group of Subordinate
Certificates supports one group of
Senior Certificates, Compensating
Interest will be determined for the
related loan group.
Advances.................................. Subject to certain limitations, the
Servicer will be required pursuant
to the Pooling Agreement to advance
(any such advance, an "Advance")
prior to each Distribution Date an
amount equal to the aggregate of
payments of principal and interest
(net of the Servicing Fee) which
were due on the related due date on
the Mortgage Loans and which were
delinquent on the related
Determination Date. Advances made by
the Servicer will be made from its
own funds or funds available for
future distribution. The obligation
to make an Advance with respect to
any Mortgage Loan will continue
until the ultimate disposition of
the REO Property or Mortgaged
Property relating to such Mortgage
Loan.
Interest Accrual.......................... Interest will accrue on the
Certificates during each one-month
period (i) ending on the last day of
the month preceding the month in
which each Distribution Date occurs
(each, a "Regular Interest Accrual
Period") or (ii) commencing on the
25th day of the month preceding the
Banc of America Securities LLC 8
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
month in which each Distribution
Date occurs and ending on the 24th
day of the month in which each
Distribution Date occurs (each, a
"LIBOR Based Interest Accrual
Period" or "No Delay Interest
Accrual Period" and together with a
Regular Interest Accrual Period, an
"Interest Accrual Period"). The
initial Regular Interest Accrual
Period will be deemed to have
commenced on October 1, 2006 and any
initial LIBOR Based Interest Accrual
Period or No Delay Interest Accrual
Period will be deemed to have
commenced on October 25, 2006.
On each Distribution Date, to the
extent of the applicable Pool
Distribution Amount or Amounts, each
class of interest-bearing
Certificates will be entitled to
receive interest (as to each such
class, the "Interest Distribution
Amount") with respect to the related
Interest Accrual Period. The
Interest Distribution Amount for any
interest-bearing class of
Certificates will be equal to the
sum of (i) interest accrued during
the related Interest Accrual Period
at the applicable pass-through rate
on the related Class Balance or
notional amount and (ii) the sum of
the amounts, if any, by which the
amount described in clause (i) above
on each prior Distribution Date
exceeded the amount actually
distributed in respect of interest
on such prior Distribution Dates and
not subsequently distributed.
The interest entitlement described
in clause (i) of the Interest
Distribution Amount for each class
of interest-bearing Senior
Certificates and each class of
Subordinate Certificates will be
reduced by the amount of Net
Interest Shortfalls for the related
Mortgage Loans for such Distribution
Date.
Allocations of the interest portion
of Realized Losses on the Mortgage
Loans in a loan group are allocated
first to the related Subordinate
Certificates in reverse order of
payment priority will result from
the priority of distributions first
to the related Senior Certificates
and then to the classes of related
Subordinate Certificates in
numerical order of the applicable
Pool Distribution Amount as
described below under "Priority of
Distributions." After the date on
which the aggregate Class Balance of
the related Subordinate Certificates
has been reduced to zero, the
interest-bearing related Senior
Certificates will bear the interest
portion of any Realized Losses on
such Mortgage Loans pro rata based
on the interest entitlement
described in clause (i) of the
applicable Interest Distribution
Amount.
Distributions to the
Subordinate Certificates.................. On each Distribution Date, each
class of Subordinate Certificates
that is entitled to receive a
principal distribution will receive
its pro rata share (based on the
Class Balances of all the
Subordinate Certificates (or the
Banc of America Securities LLC 9
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
Subordinate Certificates in the same
group, if there is more than one
group of Subordinate Certificates)
that are entitled to receive a
principal distribution) of the
Subordinate Principal Distribution
Amount(s), to the extent that the
remaining Pool Distribution
Amount(s) are sufficient therefor.
With respect to each class of
Subordinate Certificates, if on any
Distribution Date the Fractional
Interest is less than the Fractional
Interest for that class on the
Closing Date, no classes of
Subordinate Certificates in the same
group, if there is more than one
group of Subordinate Certificates,
junior to such class will be
entitled to receive a principal
distribution.
Distributions of principal on the
Subordinate Certificates that are
entitled to receive a principal
distribution on a Distribution Date
will be made sequentially to each
class of Subordinate Certificates in
the order of their payment priority
until each such class has received
its respective pro rata share for
the Distribution Date. However, the
Class PO Deferred Amounts will be
paid to the ratio strip components
or certificates from amounts
otherwise payable as principal to
the related Subordinate
Certificates, beginning with the
amounts otherwise distributable as
principal to the class of related
Subordinate Certificates lowest in
order of payment priority.
Shifting Interest Structure............... Additional credit enhancement is
provided by the allocation of the
applicable Non-PO Percentages of
principal prepayments on the
Mortgage Loans in the Mortgage Pool
or a loan group in the Mortgage Pool
to the related Senior Non-PO
Certificates for the first five
years and the disproportionately
greater allocation of prepayments to
such Senior Non-PO Certificates over
the following four years. The
disproportionate allocation of the
applicable Non-PO Percentages of
prepayments on the Mortgage Loans in
the Mortgage Pool or a loan group in
the Mortgage Pool will accelerate
the amortization of those Senior
Certificates relative to the
amortization of the Subordinate
Certificates. As a result, the
credit support percentage for the
Senior Certificates should be
maintained and may be increased
during the first nine years.
Allocation of Losses...................... On each Distribution Date, the
applicable PO Percentage of any
Realized Loss on a Discount Mortgage
Loan will be allocated to the ratio
strip certificate or ratio strip
component of the related group until
its Class Balance or principal
balance is reduced to zero. Such
allocation will be effected on each
Distribution Date by reducing the
Class Balance of the ratio strip
certificate or principal balance of
the ratio strip component of the
related group if and to the extent
that such balance (after taking into
account the amount of all
distributions to be made on such
Distribution Date) exceeds the
Adjusted Pool Amount (PO Portion)
for such Distribution Date. The
amount of any such
Banc of America Securities LLC 10
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
Realized Loss allocated to a ratio
strip certificate or ratio strip
component of the related group will
be treated as a "Class PO Deferred
Amount." To the extent funds are
available on such Distribution Date
or on any future Distribution Date
from amounts that would otherwise be
allocable to the related Subordinate
Principal Distribution Amount or
Amounts, the Class PO Deferred
Amounts for the ratio strip
certificate or ratio strip component
of the related group will be paid on
such ratio strip certificate or
ratio strip component of the related
group prior to distributions of
principal on the related Subordinate
Certificates. Payments of the Class
PO Deferred Amounts will be made
from the principal payable to the
related Subordinate Certificates
beginning with the principal payable
to the class of Subordinate
Certificates lowest in order of
payment priority. Any distribution
in respect of unpaid Class PO
Deferred Amounts for a ratio strip
certificate or ratio strip component
of the related group will not
further reduce the principal balance
of such ratio strip certificate or
ratio strip component of the related
group. The Class PO Deferred Amounts
will not bear interest. The Class
Balance of the class of related
Subordinate Certificates then
outstanding lowest in the order of
payment priority will be reduced by
the amount of any payments in
respect of Class PO Deferred Amounts
for the ratio strip certificate or
ratio strip component of the related
group. Any excess of these Class PO
Deferred Amounts over the Class
Balance of that class will be
allocated to the next most
subordinate class of related
Subordinate Certificates to reduce
its Class Balance and so on, as
necessary.
On each Distribution Date, the
applicable Non-PO Percentage of any
Realized Loss will be allocated
first to the related Subordinate
Certificates in reverse order of
payment priority (beginning with the
class of related Subordinate
Certificates then outstanding lowest
in order of payment priority), in
each case until the Class Balance of
such class of Certificates has been
reduced to zero, and then to the
Senior Non-PO Certificates or to the
Senior Non-PO Certificates of the
related group, if there are multiple
groups of Senior Non-PO Certificates
pro rata based on their respective
Class Balances.
Such allocation will be effected on
each such Distribution Date by
reducing the Class Balance of the
class of related Subordinate
Certificates then outstanding lowest
in order of payment priority if and
to the extent that the aggregate of
the Class Balances of all classes of
Senior Non-PO Certificates or the
Senior Non-PO Certificates in a
group and the related Subordinate
Certificates (after taking into
account the amount of all
distributions to be made on such
Distribution Date) exceeds the
Adjusted Pool Amount (Non-PO
Portion) or sum of the Adjusted Pool
Amounts (Non-PO Portion) for such
Distribution Date.
Banc of America Securities LLC 11
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
After the date on which the
aggregate Class Balance of the
related Subordinate Certificates has
been reduced to zero, on each
Distribution Date, the aggregate of
the Class Balances of all classes of
Senior Non-PO Certificates or all
Senior Non-PO Certificates of a
group then outstanding will be
reduced if and to the extent that
such aggregate Class Balance (after
taking into account the amount of
all distributions to be made on such
Distribution Date) exceeds the
Adjusted Pool Amount (Non-PO
Portion) for such Distribution Date.
The amount of any such reduction
will be allocated among the Senior
Non-PO Certificates or Senior Non-PO
Certificates of such group pro rata
based on their respective Class
Balances (or their initial Class
Balances, if lower, in the case of a
class of Accrual Certificates).
After the date on which the
aggregate Class Balance of the
related Subordinate Certificates has
been reduced to zero, the Class
Balance of any class of Super Senior
Support Certificates will be reduced
not only by the principal portion of
Realized Losses allocated to such
class as provided in the preceding
paragraph, but also by the portion
allocated to the related class or
classes of Super Senior
Certificates.
Cross-Collateralization................... If one group of Subordinate
Certificates support multiple groups
of Senior Certificates, on each
Distribution Date prior to the date
on which the aggregate Class Balance
of such Subordinate Certificates has
been reduced to zero but on or after
the date on which the Class Balances
of the Senior Non-PO Certificates of
a group have been reduced to zero,
amounts otherwise distributable as
principal payments on such
Subordinate Certificates will be
paid as principal to the remaining
classes of Senior Non-PO
Certificates of each group supported
by such Subordinate Certificates
together with the Senior Principal
Distribution Amount(s) in accordance
with the principal payment
priorities provided that on such
Distribution Date (a) the Aggregate
Subordinate Percentage for such
Distribution Date is less than twice
the initial Aggregate Subordinate
Percentage or (b) the average
outstanding principal balance of the
Mortgage Loans (including, for this
purpose, any Mortgage Loan in
foreclosure, any REO Property and
any Mortgage Loan for which the
mortgagor has filed for bankruptcy
after the Closing Date) delinquent
60 days or more over the last six
months as a percentage of the
aggregate Class Balance of the
Subordinate Certificates is greater
than or equal to 50%. If the Senior
Non-PO Certificates of two or more
groups remain outstanding, the
distributions described above will
be made to such Senior Certificates
of such groups, pro rata, in
proportion to the aggregate Class
Balance of such Senior Certificates.
The "Aggregate Subordinate
Percentage" for any Distribution
Date will be the percentage equal to
the aggregate Class Balance of the
Banc of America Securities LLC 12
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
Subordinate Certificates divided by
the related aggregate Pool Principal
Balance (Non-PO Portion).
In addition, if on any Distribution
Date, after giving effect to the
preceding paragraph, the aggregate
Class Balance of the Senior Non-PO
Certificates after giving effect to
distributions to be made on such
Distribution Date is greater than
the Adjusted Pool Amount (Non-PO
Portion) (any such group, the
"Undercollateralized Group" and any
such excess, the
"Undercollateralized Amount"), all
amounts otherwise distributable as
principal on the Subordinate
Certificates, in reverse order of
their payment priority, will be paid
as principal to the Senior Non-PO
Certificates of the
Undercollateralized Group together
with the Senior Principal
Distribution Amount(s) in accordance
with the principal payment
priorities until the aggregate Class
Balance of the Senior Non-PO
Certificates of the
Undercollateralized Group equals the
Adjusted Pool Amount (Non-PO
Portion). If two or more groups are
Undercollateralized Groups, the
distributions described above will
be made, pro rata, in proportion to
the amount by which the aggregate
Class Balance of the Senior Non-PO
Certificates of each such group
exceeds the related Pool Principal
Balance (Non-PO Portion).
The amount of any unpaid interest
shortfall amounts with respect to
the Undercollateralized Group
(including any interest shortfall
amount for such Distribution Date)
will be paid to the
Undercollateralized Group, including
the interest only component of such
group, if any, prior to the payment
of any Undercollateralized Amount
from amounts otherwise distributable
as principal on the Subordinate
Certificates, in reverse order of
their payment priority.
Adjusted Pool Amount...................... The "Adjusted Pool Amount" of the
Mortgage Pool or a loan group in the
Mortgage Pool will equal the
aggregate unpaid principal balance
of the Mortgage Loans in the
Mortgage Pool or a loan group in the
Mortgage Pool as of the Cut-off Date
minus the sum of (i) all amounts in
respect of principal received in
respect of such Mortgage Loans
(including amounts received as
Advances, principal prepayments and
Liquidation Proceeds in respect of
principal) and distributed on the
Certificates on such Distribution
Date and all prior Distribution
Dates and (ii) the principal portion
of all Realized Losses (other than
debt service reductions) incurred on
such Mortgage Loans from the Cut-off
Date through the end of the month
preceding the month in which such
Distribution Date occurs.
Adjusted Pool Amount (PO Portion)......... The "Adjusted Pool Amount (PO
Portion)" of the Mortgage Pool or a
loan group in the Mortgage Pool will
equal the sum as to each Mortgage
Loan in the Mortgage Pool or a loan
group in the Mortgage Pool as of the
Cut-off Date of the product of (A)
the PO Percentage for
Banc of America Securities LLC 13
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
such Mortgage Loan and (B) the
principal balance of such Mortgage
Loan as of the Cut-off Date less the
sum of (i) all amounts in respect of
principal received in respect of
such Mortgage Loan (including
amounts received as Advances,
principal prepayments and
Liquidation Proceeds in respect of
principal) and distributed on the
Certificates on such Distribution
Date and all prior Distribution
Dates and (ii) the principal portion
of any Realized Loss (other than a
debt service reduction) incurred on
such Mortgage Loan from the Cut-off
Date through the end of the month
preceding the month in which such
Distribution Date occurs.
Adjusted Pool Amount
(Non-PO Portion).......................... The "Adjusted Pool Amount (Non-PO
Portion)" of the Mortgage Pool or a
loan group in the Mortgage Pool will
equal the difference between the
Adjusted Pool Amount of the Mortgage
Pool or a loan group in the Mortgage
Pool and the Adjusted Pool Amount
(PO Portion) of the Mortgage Pool or
a loan group in the Mortgage Pool.
Class Balance............................. The "Class Balance" of a class of
Certificates at any time will equal
(a) its initial Class Balance or in
the case of a class of Exchangeable
REMIC Certificates or Exchangeable
Certificates, the portion of the
maximum initial Class Balance then
represented by the outstanding
Certificates of such class of the
maximum initial Class Balance less
(i) all distributions of principal
made to such class, and (ii) losses
allocated to such class plus (b) in
the case of a class of Accrual
Certificates, any amounts added to
such Class Balance as a result of
the application of the accrual
distribution amount.
Fractional Interest....................... The "Fractional Interest" with
respect to any Distribution Date and
each class of Subordinate
Certificates will equal (i) the
aggregate of the Class Balances
immediately prior to such
Distribution Date of all classes of
Subordinate Certificates in the same
group that have higher numerical
class designations than such class,
divided by (ii) the aggregate Pool
Principal Balance (Non-PO Portion)
(if there is only one group of
Subordinate Certificates) or the
related Pool Principal Balance
(Non-PO Portion) or sum of the
related Pool Principal Balance
(Non-PO Portion) (if there is more
than one group of Subordinate
Certificates).
Net Interest Shortfall.................... With respect to any Distribution
Date, the "Net Interest Shortfall"
is equal to the sum of (i) the
shortfall in interest received with
respect to any Mortgage Loan as a
result of a Relief Act Reduction and
(ii) any Non-Supported Interest
Shortfalls. Net Interest Shortfalls
on any Distribution Date will be
allocated pro rata among all such
classes of interest-bearing Senior
Certificates or if there are Crossed
Groups, the interest-bearing Senior
Certificates of the Crossed Groups
and each
Banc of America Securities LLC 14
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
class of related Subordinate
Certificates, based on the amount of
interest accrued on each such class
of Certificates on such Distribution
Date before taking into account any
reduction in such amounts resulting
from such Net Interest Shortfalls.
Net Mortgage Interest Rate................ The "Net Mortgage Interest Rate" of
a Mortgage Loan is the excess of its
mortgage interest rate over the sum
of the servicing fee rate (which is
0.25%) and the trustee fee rate
(which is 0.0045%).
Non-PO Percentage......................... The "Non-PO Percentage" with respect
to any Mortgage Loan in the Mortgage
Pool or loan group in the Mortgage
Pool with a Net Mortgage Interest
Rate as of the Cut-off Date less
than a certain rate (each such
Mortgage Loan, a "Discount Mortgage
Loan") will be equal to the Net
Mortgage Interest Rate as of the
Cut-off Date divided by such
applicable rate. If there are
multiple loan groups in the Mortgage
Pool, this rate may be the same for
each loan group or may differ for
one or more loan groups. The Non-PO
Percentage with respect to any
Mortgage Loan in the Mortgage Pool
or loan group in the Mortgage Pool
with a Net Mortgage Interest Rate as
of the Cut-off Date equal to or
greater than the applicable rate
will be 100%. The "PO Percentage"
for any Discount Mortgage Loan will
be equal to 100% minus the Non-PO
Percentage for such Mortgage Loan.
Any Mortgage Loan with a Net
Mortgage Interest Rate as of the
Cut-off Date greater than or equal
to the applicable rate for the
Mortgage Pool or the loan group in
the Mortgage Pool is a "Premium
Mortgage Loan."
Non-PO Principal Amount................... The "Non-PO Principal Amount" for
any Distribution Date and the
Mortgage Pool or any loan group in
the Mortgage Pool will equal the sum
of the applicable Non-PO Percentage
of:
(a) all monthly payments of
principal due on each Mortgage
Loan in the Mortgage Pool or
loan group in the Mortgage
Pool on the related due date;
(b) the principal portion of the
purchase price (net of
unreimbursed Advances and
other amounts as to which the
Servicer is entitled to be
reimbursed pursuant to the
Pooling Agreement) of each
Mortgage Loan in the Mortgage
Pool or loan group in the
Mortgage Pool that was
repurchased by the Depositor
pursuant to the Pooling
Agreement during the calendar
month preceding the month of
that Distribution Date;
(c) amounts received with respect
to such Distribution Date as a
substitution adjustment amount
(net of unreimbursed Advances
Banc of America Securities LLC 15
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
and other amounts as to which
the Servicer is entitled to be
reimbursed pursuant to the
Pooling Agreement) in
connection with a Mortgage
Loan in the Mortgage Pool or
loan group in the Mortgage
Pool received during the
calendar month preceding the
month of that Distribution
Date;
(d) any Liquidation Proceeds (net
of unreimbursed expenses and
unreimbursed Advances, if any)
allocable to recoveries of
principal of the Mortgage
Loans in the Mortgage Pool or
loan group in the Mortgage
Pool that have not yet been
liquidated received during the
calendar month preceding the
month of that Distribution
Date;
(e) with respect to each Mortgage
Loan in the Mortgage Pool or
loan group in the Mortgage
Pool that was liquidated
during the calendar month
preceding the month of that
Distribution Date, the amount
of the Liquidation Proceeds
(other than any profits
retained by the Servicer in
connection with the
foreclosure and net of
unreimbursed expenses and
unreimbursed Advances, if any)
allocable to principal
received with respect to that
Mortgage Loan; and
(f) all partial and full principal
prepayments on the Mortgage
Loans in the Mortgage Pool or
loan group in the Mortgage
Pool by mortgagors received
during the calendar month
preceding the month of that
Distribution Date.
The amounts described in clauses (a)
through (d) are referred to as
"Scheduled Principal Payments." The
amounts described in clauses (e) and
(f) are referred to as "Unscheduled
Principal Payments."
Non-Supported Interest Shortfall.......... With respect to any Distribution
Date, the "Non-Supported Interest
Shortfall" is the amount by which
the aggregate of Prepayment Interest
Shortfalls for the Mortgage Loans in
the Mortgage Pool or the Mortgage
Loans in any Crossed Loan Groups
during the calendar month preceding
the month of such Distribution Date
exceeds the applicable Compensating
Interest for such period.
Notional Amount........................... The "Notional Amount" of any
Interest Only Certificates (or any
components of an Interest Only
Certificates) will be equal to
either (I) the product of (i) the
aggregate of the Stated Principal
Balances of the Premium Mortgage
Loans in the Mortgage Pool or loan
group as of the due date in the
month preceding the month of such
Distribution Date and (ii) a
fraction, (a) the numerator of which
is equal to the weighted average of
the Net Mortgage Interest Rates of
the these
Banc of America Securities LLC 16
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
Mortgage Loans (based on the Stated
Principal Balances of these Mortgage
Loans as of the due date in the
month preceding the month of such
Distribution Date) minus a specified
percentage and (b) the denominator
of which is equal to a specified
percentage or (II) a percentage or
all of the Class Balance(s) of
another class or classes.
Pool Distribution Amount.................. The "Pool Distribution Amount" with
respect to any Distribution Date
will be determined by reference to
amounts received and expenses
incurred in connection with the
Mortgage Loans in the Mortgage Pool
or any loan group in the Mortgage
Pool and will be equal to the sum
of:
(i) all scheduled installments of
interest (net of the related
Servicing Fee) and principal
due on such Mortgage Loans on
the due date in the month in
which such Distribution Date
occurs and received prior to
the related Determination
Date, together with any
Advances in respect thereof
and any Compensating Interest
allocable to such Mortgage
Loans;
(ii) all proceeds of any primary
mortgage guaranty insurance
policies and any other
insurance policies with
respect to such Mortgage
Loans, to the extent such
proceeds are not applied to
the restoration of the related
mortgaged property or released
to the mortgagor in accordance
with the Servicer's normal
servicing procedures and all
other cash amounts received
and retained in connection
with the liquidation of
defaulted Mortgage Loans in
the Mortgage Pool or any loan
group in the Mortgage Pool, by
foreclosure or otherwise
(collectively, "Liquidation
Proceeds"), during the
calendar month preceding the
month of such Distribution
Date (in each case, net of
unreimbursed expenses incurred
in connection with a
liquidation or foreclosure and
unreimbursed Advances, if
any);
(iii) all partial or full
prepayments received on such
Mortgage Loans during the
calendar month preceding the
month of such Distribution
Date; and
(iv) amounts received with respect
to such Distribution Date as a
substitution adjustment amount
or purchase price in respect
of any deleted Mortgage Loan
in the Mortgage Pool or any
loan group in the Mortgage
Pool or amounts received in
connection with the optional
termination of the Trust or a
portion of the Trust as of
such Distribution Date,
reduced by amounts in
reimbursement for Advances
previously made and other
amounts as to which the
Servicer is entitled to be
reimbursed pursuant to the
Pooling Agreement.
Banc of America Securities LLC 17
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
Pool Principal Balance.................... The "Pool Principal Balance" for the
Mortgage Pool or a loan group in the
Mortgage Pool with respect to any
Distribution Date equals the
aggregate Stated Principal Balances
of the Mortgage Loans in the
Mortgage Pool or loan group in the
Mortgage Pool outstanding on the due
date in the month preceding the
month of such Distribution Date.
Pool Principal Balance
(Non-PO Portion).......................... The "Pool Principal Balance (Non-PO
Portion)" for the Mortgage Pool or a
loan group in the Mortgage Pool and
any Distribution Date equals the sum
of the product, for each Mortgage
Loan in the Mortgage Pool or loan
group in the Mortgage Pool, of the
Non-PO Percentage of such Mortgage
Loan multiplied by its Stated
Principal Balance on the due date in
the month preceding the month of
such Distribution Date.
Prepayment Interest Shortfall............. A "Prepayment Interest Shortfall" on
a Mortgage Loan is equal to the
difference between (x) 30 days'
interest at the mortgage interest
rate (less the servicing fee rate)
on the amount of the prepayment on
such Mortgage Loan minus (y) the
amount of interest actually paid by
the related mortgagor on the amount
of such prepayment during the
preceding month.
Realized Loss............................. In general, a "Realized Loss" means,
(a) with respect to a Mortgage Loan
that has been liquidated, the amount
by which the remaining unpaid
principal balance of the Mortgage
Loan exceeds the amount of proceeds
from the liquidation applied to the
principal balance of the related
Mortgage Loan and (b) losses due to
the bankruptcy of the mortgagor.
Relief Act Reduction...................... A "Relief Act Reduction" is a
reduction in the amount of monthly
interest payment on a Mortgage Loan
pursuant to the Servicemembers Civil
Relief Act or similar state
legislation.
REO Property.............................. An "REO Property" is a Mortgaged
Property that has been acquired by
the Trust through foreclosure or
grant of a deed in lieu of
foreclosure.
Senior Percentage......................... The Senior Percentage for the
Mortgage Pool or loan group in the
Mortgage Pool will equal (i) the
aggregate Class Balance of the
related Senior Non-PO Certificates
immediately prior to such date,
divided by (ii) the Pool Principal
Balance (Non-PO Portion) for the
Mortgage Pool or loan group in the
Mortgage Pool for such date.
Senior Prepayment Percentage.............. For the following Distribution
Dates, will be as follows:
Distribution Date Senior Prepayment Percentage
---------------------- ------------------------------------------
November 2006 through 100%;
October 2011
Banc of America Securities LLC 18
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
November 2011 through the applicable Senior Percentage plus, 70%
October 2012 of the applicable Subordinate Percentage;
November 2012 through the applicable Senior Percentage plus, 60%
October 2013 of the applicable Subordinate Percentage;
November 2013 through the applicable Senior Percentage plus, 40%
October 2014 of the applicable Subordinate Percentage;
November 2014 through the applicable Senior Percentage plus, 20%
October 2015 of the applicable Subordinate Percentage;
November 2015 and the applicable Senior Percentage;
thereafter
provided, however, that (A) if on
any Distribution Date the percentage
equal to (x) the aggregate Class
Balances of the Senior Non-PO
Certificates of multiple groups with
one set of Subordinate Certificates
(such groups, "Crossed Groups")
divided by (y) the sum of the Pool
Principal Balances (Non-PO Portion)
for the loan groups relating to the
Crossed Groups (such loan groups,
the "Crossed Loan Groups" and such
percentage, the "Crossed Group Total
Senior Percentage") exceeds such
percentage as of the Closing Date,
then the Senior Prepayment
Percentages for the Crossed Loan
Groups for such Distribution Date
will equal 100% and (B) in the case
of one group of Senior Non-PO
Certificates with its own set of
Subordinate Certificates or if the
Mortgage Pool is not divided into
loan groups, if on any Distribution
Date the Senior Percentage for the
Mortgage Pool or the related loan
group of the Mortgage Pool (the
Mortgage Loans in the Mortgage Pool
or such loan group, "Non-Crossed
Mortgage Loans") exceeds such
percentage as of the Closing Date,
then the Senior Prepayment
Percentage(s) for the Mortgage Pool
or such loan group for such
Distribution Date will equal 100%.
No decrease in the Senior Prepayment
Percentages for the Crossed Loan
Groups will occur if the following
occurs as of any Distribution Date
as to which any such decrease
applied with respect to the Crossed
Loan Group Mortgage Loans, and no
decrease in the Senior Prepayment
Percentage for the Non-Crossed
Mortgage Loans will occur if the
following occurs as of any
Distribution Date as to which any
such decrease applied with respect
to the Non-Crossed Mortgage Loans:
(i) the outstanding principal
balance of all Mortgage Loans in the
Crossed Loan Groups or all
Non-Crossed Mortgage Loans
(including, for this purpose, any
Mortgage Loans in foreclosure, any
REO Property in such loan group or
loan groups and any Mortgage Loan
for which the mortgagor has filed
for bankruptcy after the Closing
Date) delinquent 60 days or more
(averaged over the preceding
six-month period), as a percentage
of the aggregate Class Balance of
the related Subordinate
Certificates, is equal to or greater
than 50%, or (ii) cumulative
Realized Losses with respect to the
Mortgage Loans in the Crossed Loan
Groups or all Non-Crossed Mortgage
Loans exceed
Banc of America Securities LLC 19
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
the percentages of the aggregate
balance of the related Subordinate
Certificates as of the Closing Date
(with respect to the related
Subordinate Certificates, the
"Original Subordinate Principal
Balance") indicated below:
% of Original Subordinate
Distribution Date Occurring Principal Balance
---------------------------------- --------------------------
November 2011 through October 2012 30%
November 2012 through October 2013 35%
November 2013 through October 2014 40%
November 2014 through October 2015 45%
November 2015 and thereafter 50%
The Subordinate Prepayment
Percentage for the Mortgage Pool or
loan group in the Mortgage Pool for
any Distribution Date will equal
100% minus the Senior Prepayment
Percentage for the Mortgage Pool or
such loan group in the Mortgage Pool
for such date.
Senior Principal Distribution Amount...... The "Senior Principal Distribution
Amount" for the Mortgage Pool or
loan group in the Mortgage Pool and
any Distribution Date will equal the
sum of (i) the Senior Percentage for
the Mortgage Pool or loan group in
the Mortgage Pool of the applicable
Non-PO Percentage of Scheduled
Principal Payments for such
Distribution Date and (ii) the
Senior Prepayment Percentage for the
Mortgage Pool or loan group in the
Mortgage Pool of the applicable
Non-PO Percentage of Unscheduled
Principal Payments for such
Distribution Date subject to certain
reductions due to losses.
Stated Principal Balance.................. The "Stated Principal Balance"
means, as to any Mortgage Loan and
due date, the unpaid principal
balance of such Mortgage Loan as of
such due date, as specified in the
amortization schedule at the time
relating thereto (before any
adjustment to such amortization
schedule by reason of any moratorium
or similar waiver or grace period),
after giving effect to any previous
partial principal prepayments and
Liquidation Proceeds (net of
unreimbursed expenses and
unreimbursed Advances) allocable to
principal received and to the
payment of principal due on such due
date and irrespective of any
delinquency in payment by the
related mortgagor and after giving
effect to any deficient valuation by
a court in connection with a
bankruptcy.
Subordinate Percentage.................... The Subordinate Percentage for the
Mortgage Pool or loan group in the
Mortgage Pool for any Distribution
Date will equal 100% minus the
Senior Percentage for such date.
Subordinate Prepayment Percentage......... The Subordinate Prepayment
Percentage for the Mortgage Pool or
loan group in the Mortgage Pool for
any Distribution Date will equal
100%
Banc of America Securities LLC 20
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
minus the Senior Prepayment
Percentage for the Mortgage Pool or
such loan group in the Mortgage Pool
for such date.
Subordinate Principal
Distribution Amount....................... The "Subordinate Principal
Distribution Amount" for the
Mortgage Pool or loan group in the
Mortgage Pool for any Distribution
Date will equal the sum of (i) the
Subordinate Percentage for the
Mortgage Pool or loan group in the
Mortgage Pool of the applicable
Non-PO Percentage of Scheduled
Principal Payments for such
Distribution Date and (ii) the
Subordinate Prepayment Percentage
for the Mortgage Pool or loan group
in the Mortgage Pool of the
applicable Non-PO Percentage of
Unscheduled Principal Payments for
such Distribution Date.
Exchangeable REMIC
Certificates and
Exchangeable Certificates................. Certain Classes of Offered
Certificates identified as
"Exchangeable REMIC Certificates"
may be exchanged in certain
allowable combinations (a "REMIC
Combination") for a proportionate
interest in certain related
Certificates identified as
"Exchangeable Certificates." All or
a portion of the Exchangeable
Certificates in an Exchangeable
Combination may also be exchanged
for a proportionate interest in each
class of Exchangeable REMIC
Certificates in the related REMIC
Combination in the same manner. This
process may occur repeatedly.
The classes of Exchangeable REMIC
Certificates and of Exchangeable
Certificates that are outstanding at
any given time, and the outstanding
Class Balances and notional amounts,
if any, of these classes, will
depend upon any related
distributions of principal, as well
as any exchanges that occur.
Exchangeable REMIC Certificates and
Exchangeable Certificates in any
combination may be exchanged only in
the proportion that the maximum
initial Class Balances and notional
amounts, if any, of such
Certificates bear to one another as
shown in the prospectus supplement.
Holders of each class of
Exchangeable Certificates in an
allowable combination will be the
beneficial owners of a proportionate
interest in the Exchangeable REMIC
Certificates of the related REMIC
Combination.
Banc of America Securities LLC 21
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
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Preliminary Summary of Terms
----------------------------
In the event that Exchangeable REMIC
Certificates are exchanged for an
allowable combination of
Exchangeable Certificates, then
o the aggregate principal
balance of the Exchangeable
Certificates received in the
exchange will equal the
aggregate principal balance,
immediately prior to the
exchange, of the Exchangeable
REMIC Certificates so
exchanged; and
o the aggregate amount of
interest and principal payable
on each distribution date with
respect to the Exchangeable
Certificates received in the
exchange will equal the
aggregate amount of interest
and principal that would have
been payable on the
Exchangeable REMIC
Certificates so exchanged if
the exchange had not occurred;
and
o the aggregate amount of
principal and interest losses
and interest shortfalls
allocated to the Exchangeable
Certificates received in the
exchange will equal the
aggregate amount of principal
and interest losses and
interest shortfalls that would
have been allocated to the
Exchangeable REMIC
Certificates so exchanged if
the exchange had not occurred.
Each class of Exchangeable
Certificates in an allowable
combination (other than a class of
interest only certificates, if any)
will be entitled to its
proportionate share of the principal
distributions that would have been
payable on the Exchangeable REMIC
Certificates so exchanged if the
exchange had not occurred. In
addition, each class of Exchangeable
Certificates (other than a class of
interest only certificates, if any)
in an allowable combination will
bear a proportionate share of
principal losses that would have
been allocated to the Exchangeable
REMIC Certificates so exchanged if
the exchange had not occurred.
Banc of America Securities LLC 22
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
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Preliminary Credit Support
--------------------------
Subordinate Certificates provide credit support for Senior Certificates. If the
Senior Certificates are divided into multiple groups, the Subordinate
Certificates may or may not consist of multiple groups. If there are multiple
groups of Subordinate Certificates, each group will support one or more groups
of Senior Certificates. Additional credit enhancement is provided by the
allocation of the applicable Non-PO Percentages of all principal prepayments on
the applicable Mortgage Loans to the related Senior Non-PO Certificates, subject
to certain exceptions, for the first five years and the disproportionately
greater allocation of prepayments to such Senior Non-PO Certificates over the
following four years. The disproportionate allocation of the applicable Non-PO
Percentages of prepayments on the Mortgage Loans will accelerate the
amortization of those Senior Non-PO Certificates relative to the amortization of
the related Subordinate Certificates. As a result, the credit support percentage
for the Senior Certificates should be maintained and may be increased during the
first nine years. If there is one group of Subordinate Certificates, the initial
credit support percentage for the Senior Certificates (calculated by dividing
the initial Class Balance of the Subordinate Certificates by the aggregate Pool
Principal Balance) is expected to be 4.60% (+/- 50 basis points).
Priority of Distributions
-------------------------
Distributions will be made on each Distribution Date from the Pool Distribution
Amount (if the Mortgage Pool is not divided into loan groups) or Amounts (if
there are multiple loan groups, in which case the Senior Certificates and any
components of a group will be paid from the related Pool Distribution Amount) in
the following order of priority:
--------------------------------------------------------------
First, to the classes of Senior Certificates and component
(if any) entitled to payments of interest, to pay interest;
--------------------------------------------------------------
|
|
|
v
--------------------------------------------------------------
Second, pro rata, to the Senior Non-PO Certificates and any
ratio strip component or ratio strip certificates entitled
to payments of principal, to pay principal;
--------------------------------------------------------------
|
|
|
v
--------------------------------------------------------------
Third, to any ratio strip component or ratio strip
certificates, to pay any Class PO Deferred Amounts, from
amounts otherwise payable as principal to the related
Subordinate Certificates;
--------------------------------------------------------------
|
|
|
v
--------------------------------------------------------------
Fourth, subject to any cross-collateralization payments,
sequentially, to each class of Subordinate Certificates from
the related Pool Distribution Amount or Amounts to pay
interest and principal in the order of payment priority,
until each Class Balance is zero; and
--------------------------------------------------------------
|
|
|
v
--------------------------------------------------------------
Fifth, to the residual certificate, any remaining amounts.
--------------------------------------------------------------
Banc of America Securities LLC 23
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
The Sponsor and Servicer.................. Bank of America, National
Association ("Bank of America") will
serve as the sponsor (the "Sponsor")
and the servicer (the "Servicer") of
the Certificates.
See "The Sponsor," "The Mortgage
Loan Programs," "Servicing of the
Mortgage Loans" and "The Pooling
Agreement" in the base prospectus
for more information about the
Sponsor, its securitization
programs, its solicitation and
underwriting criteria used to
originate the Mortgage Loans and its
material roles and duties in this
transaction.
All of the Mortgage Loans will be
serviced by the Servicer in
accordance with the terms of the
Pooling Agreement. The Servicer may
perform any of its obligations under
the Pooling Agreement through one or
more subservicers. Despite the
existence of subservicing
arrangements, the Servicer will be
liable for its servicing duties and
obligations under the Pooling
Agreement as if the Servicer alone
were servicing the Mortgage Loans.
See "The Sponsor," "Servicing of the
Mortgage Loans -- The Servicers,"
"-- Servicing Experience and
Procedures of Bank of America" and
"The Pooling Agreement" in the base
prospectus for more information
about the Servicer, the Servicer's
experience, its servicing procedures
and its obligations under the
Pooling Agreement.
Static Pool Information................... Information concerning the Sponsor's
prior residential mortgage loan
securitizations involving both
fixed-rate first lien mortgage loans
underwritten in accordance with the
Sponsor's general underwriting
standards described in the base
prospectus under "The Mortgage Loan
Programs--Mortgage Loan
Underwriting--Bank of America
General Underwriting Standards" and
first lien mortgage loans
underwritten in accordance with the
Sponsor's alternative underwriting
standards described in the base
prospectus under "--Bank of America
Alternative Underwriting Standards,"
and, in each case, issued by the
Depositor or the Depositor's
predecessor is available on the
internet at
http://www.bofa.com/boams. Although
those securitizations involve the
most comparable type of mortgage
loans to the type of Mortgage Loans
contained in the Mortgage Pool, the
Sponsor also maintains on that
website, for the information of
investors, statistical data
concerning the Sponsor's prior
residential mortgage loan
securitizations involving either
fixed-rate first lien mortgage loans
or adjustable-rate first lien
mortgage loans underwritten in
accordance with the Sponsor's
general underwriting standards
issued by the Depositor or the
Depositor's predecessor.
Without charge or registration,
investors can view on this website
the following information for each
of those securitizations:
Banc of America Securities LLC 24
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Preliminary Summary of Terms
----------------------------
o summary initial pool
information; and
o delinquency, cumulative loss,
and prepayment information as
of each Distribution Date for
the five years preceding the
date of first use of the
prospectus supplement.
In the event any changes or updates
are made to the information
available on the Sponsor's website,
the Depositor will provide a copy of
the original information upon
request to any person who writes or
calls the Depositor. The Depositor's
address is 214 North Tryon Street,
Mail Code NC1-027-22-02, Charlotte,
North Carolina 28255. Its telephone
number is (704) 387-8239.
This static pool data may have been
influenced in the past by factors
beyond the Sponsor's control, such
as unusually robust housing prices,
low interest rates and changes in
product type. Therefore, the
performance of prior residential
mortgage loan securitizations may
not be indicative of the future
performance of the Mortgage Loans.
Banc of America Securities LLC 25
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Risk Factors
------------
YOU SHOULD FULLY CONSIDER THE RISKS
ASSOCIATED WITH AN INVESTMENT IN THE
OFFERED CERTIFICATES. BEFORE
INVESTING YOU SHOULD CAREFULLY
REVIEW "RISK FACTORS" IN THE BASE
PROSPECTUS TOGETHER WITH THE RISK
FACTORS SET FORTH BELOW.
Subordination of any
Super Senior Support
and Subordinate Certificates
Increases Risk of Loss.................... Subordinate certificateholders are
more likely to suffer losses as a
result of losses or delinquencies on
the related Mortgage Loans than are
Senior certificateholders.
o The rights of each class of
Subordinate Certificates to
receive distributions of
interest and principal are
subordinated to the rights of
the related Senior
Certificates and each class of
related Subordinate
Certificates higher in order
of payment priority.
o Losses that are realized on
the Mortgage Loans will be
allocated first to the class
of related Subordinate
Certificates lowest in order
of payment priority, then to
the class of related
Subordinate Certificates next
lowest in order of payment
priority and so on, in reverse
order of payment priority
until the outstanding Class
Balances of such classes have
been reduced to zero.
Any Super Senior Support
certificateholders should consider
the risk that after the related
Subordinate Certificates are no
longer outstanding, the principal
portion of losses realized on the
applicable Mortgage Loans that are
allocated to a class of Super Senior
Certificates will be borne by the
related class of Super Senior
Support Certificates, rather than
such class of Super Senior
Certificates.
The Rate of Principal
Payments on the Mortgage
Loans Will Affect the Yield
on the Offered Certificates............... Because principal payments on the
Mortgage Loans will be distributed
currently on the related Senior
Certificates and the related
Subordinate Certificates, the rate
of distributions of principal and
the yield to maturity on your
Certificates will be directly
related to (i) the rate and timing
of payments of principal on the
applicable Mortgage Loans and (ii)
the amount and timing of defaults by
borrowers that result in losses on
the applicable Mortgage Loans.
Borrowers are permitted to prepay
their Mortgage Loans, in whole or in
part, at any time. The principal
payments on the Mortgage Loans may
be in the form of scheduled
principal payments or principal
prepayments (for this purpose, the
term "principal prepayment" includes
prepayments and any other recovery
of principal in advance of the
scheduled due date, including
repurchases and liquidations due to
default, casualty, condemnation and
Banc of America Securities LLC 26
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Risk Factors
------------
the like). Any of these prepayments
will result in distributions to you
of amounts that would otherwise be
distributed over the remaining term
of the Mortgage Loans.
The rate of principal payments on
the Mortgage Loans will be affected
by the following:
o the amortization schedules of
the Mortgage Loans;
o the rate of partial
prepayments and full
prepayments by borrowers due
to refinancing, job transfer,
changes in property values or
other factors;
o liquidations of the properties
that secure defaulted Mortgage
Loans;
o repurchases of Mortgage Loans
by the Depositor as a result
of defective documentation or
breaches of representations or
warranties;
o the exercise of due-on-sale
clauses by the Servicer in
connection with transfers of
mortgaged properties;
o the optional repurchase of all
the Mortgage Loans by the
Depositor to effect a
termination of the Trust or
certain of the Mortgage Loans
in the Trust when the
aggregate Stated Principal
Balance of the related
Mortgage Loans is less than
10% of the aggregate unpaid
principal balance of such
Mortgage Loans as of the
cut-off date; and
o general and targeted
solicitations for refinancing
by mortgage originators
(including the Sponsor).
The rate of principal payments on
the Mortgage Loans will depend
greatly on the level of mortgage
interest rates:
o If prevailing interest rates
for similar mortgage loans
fall below the interest rates
on the Mortgage Loans in the
Trust, the rate of prepayment
is likely to increase.
o Conversely, if prevailing
interest rates for similar
mortgage loans rise above the
interest rates on the Mortgage
Loans in the Trust, the rate
of prepayment is likely to
decrease.
If you are purchasing any Offered
Certificates at a discount, and
specifically if you are purchasing
principal only certificates, you
should consider the risk that if
principal payments on the applicable
Mortgage
Banc of America Securities LLC 27
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Risk Factors
------------
Loans, or in the case of any ratio
strip certificates, some or all of
the Discount Mortgage Loans, occur
at a rate slower than you expected,
your yield will be lower than you
expected. If you are purchasing any
Offered Certificates at a premium,
and specifically if you are
purchasing interest only
certificates, you should consider
the risk that if principal payments
on the applicable mortgage loans or,
in the case of interest only
certificates whose notional amount
is based on some or all of the
Premium Mortgage Loans, such Premium
Mortgage Loans, occur at a rate
faster than you expected, your yield
may be lower than you expected. You
must make your own decisions as to
the appropriate prepayment
assumptions to be used when
purchasing any Offered Certificates.
The applicable Senior Prepayment
Percentage of the applicable Non-PO
Percentage of all principal
prepayments (excluding for this
purpose, partial liquidations due to
default, casualty, condemnation and
the like) initially will be
distributed to the classes of
related Senior Non-PO Certificates
then entitled to receive principal
prepayment distributions. This may
result in all (or a disproportionate
percentage) of those principal
prepayments being distributed to
such Senior Non-PO Certificates and
none (or less than their pro rata
share) of such principal prepayments
being distributed to holders of the
related Subordinate Certificates
during the periods of time described
in the applicable definition of
"Senior Prepayment Percentage."
The timing of changes in the rate of
prepayments may significantly affect
the actual yield to you, even if the
average rate of principal
prepayments is consistent with your
expectations. In general, the
earlier the payment of principal of
the related Mortgage Loans, the
greater the effect on your yield to
maturity. As a result, the effect on
your yield of principal prepayments
occurring at a rate higher (or
lower) than the rate you anticipate
during the period immediately
following the issuance of the
certificates will not be offset by a
subsequent like reduction (or
increase) in the rate of principal
prepayments.
Any Yield Maintenance
Agreement is Subject to
Counterparty Risk......................... The Trustee on behalf of the Trust
may enter into one or more Yield
Maintenance Agreements with one or
more counterparties, for the benefit
of certain Classes of Certificates.
Each Yield Maintenance Agreement
will require the applicable
counterparty to make certain
payments in certain circumstances.
To the extent that payments on such
Certificates depend in part on
payments to be received by the
Trustee under the related Yield
Maintenance Agreement, the ability
of the Trustee to make such payments
on such Certificates will be subject
to the credit risk of the applicable
counterparty.
Banc of America Securities LLC 28
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Risk Factors
------------
Delinquencies and Losses
on the Mortgage Loans
Will Adversely
Affect Your Yield......................... Delinquencies on the mortgage loans
which are not advanced by or on
behalf of the Servicer (because the
Servicer has determined that these
amounts, if advanced, would be
nonrecoverable), will adversely
affect the yield on the related
Senior Certificates and the related
Subordinate Certificates. The
Servicer will determine that a
proposed advance is nonrecoverable
when, in the good faith exercise of
its servicing judgment, it believes
the proposed advance would not be
ultimately recoverable from the
related mortgagor, related
liquidation proceeds, or other
recoveries in respect of the
Mortgage Loan. Because of the
priority of distributions,
shortfalls resulting from
delinquencies that are not covered
by advances will be borne first by
the related Subordinate Certificates
(in reverse order of payment
priority), and then by the related
Senior Certificates.
Net interest shortfalls will
adversely affect the yields on the
Offered Certificates. In addition,
losses generally will be borne by
the related Subordinate
Certificates. As a result, the
yields on the Offered Certificates
will depend on the rate and timing
of realized losses on the related
Mortgage Loans.
There Are Risks Relating to
Exchangeable REMIC Certificates
and Exchangeable Certificates............. If you are purchasing any
Exchangeable REMIC Certificates or
Exchangeable Certificates, you
should consider that the
characteristics of any Exchangeable
Certificates will reflect, in the
aggregate, generally the
characteristics of the related
Exchangeable REMIC Certificates.
Investors are encouraged to also
consider a number of factors that
will limit a certificateholder's
ability to exchange Exchangeable
REMIC Certificates for Exchangeable
Certificates and vice versa:
o At the time of the proposed
exchange, a certificateholder
must own Certificates of the
related Class or Classes in
the proportions necessary to
make the desired exchange.
o A certificateholder that does
not own the Certificates may
be unable to obtain the
necessary Exchangeable REMIC
Certificates or Exchangeable
Certificates because the
holders of the needed
Certificates may be unwilling
or unable to sell them or
because the necessary
Certificates have been placed
into other financial
structures.
o Principal distributions will
decrease the amounts available
for exchange over time.
Banc of America Securities LLC 29
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Risk Factors
------------
Credit Scores May Not
Accurately Predict the
Likelihood of Default..................... The Sponsor generally uses Credit
Scores as part of its underwriting
process. The attached collateral
summary shows credit scores for the
mortgagors obtained at the time of
origination of their mortgage loans.
A credit score purports only to be a
measurement of the relative degree
of risk a borrower represents to a
lender, i.e., that a borrower with a
higher score is statistically
expected to be less likely to
default in payment than a borrower
with a lower score. In addition, it
should be noted that credit scores
were developed to indicate a level
of default probability over a
two-year period, which does not
correspond to the life of most
mortgage loans. Furthermore, credit
scores were not developed
specifically for use in connection
with mortgage loans, but for
consumer loans in general.
Therefore, credit scores do not
address particular mortgage loan
characteristics that influence the
probability of repayment by the
borrower. Neither the Depositor nor
the Sponsor makes any
representations any mortgage loan or
that a particular credit score
should be relied upon as a basis for
an expectation that a borrower will
repay its mortgage loan according to
its terms.
Geographic Concentration
May Increase Risk of Loss Due to
Adverse Economic Conditions
or Natural Disasters...................... At various times, certain geographic
regions will experience weaker
economic conditions and housing
markets and, consequently, will
experience higher rates of
delinquency and loss on mortgage
loans generally. In addition,
certain states have experienced
natural disasters, including
earthquakes, fires, floods and
hurricanes, which may adversely
affect property values. Although
mortgaged properties located in
certain identified flood zones will
be required to be covered, to the
maximum extent available, by flood
insurance, no mortgaged properties
will otherwise be required to be
insured against earthquake damage or
any other loss not covered by
standard hazard insurance policies.
Any concentration of mortgaged
properties in a state or region may
present unique risk considerations.
See the tables entitled "Geographic
Distribution of Mortgaged Properties
of the Mortgage Loans" in the
attached collateral summary for a
listing of the locations and
concentrations of the mortgaged
properties.
Any deterioration in housing prices
in a state or region due to adverse
economic conditions, natural
disaster or other factors, and any
deterioration of economic conditions
in a state or region that adversely
affects the ability of borrowers to
make payments on the mortgage loans,
may result in losses on the Mortgage
Loans. Any losses may adversely
affect the yield to maturity of the
related Offered Certificates.
Banc of America Securities LLC 30
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Risk Factors
------------
Residential Real Estate
Values May Fluctuate and Adversely
Affect Your Investment.................... There can be no assurance that
values of the mortgaged properties
have remained or will remain at
their levels on the dates of
origination of the related Mortgage
Loans. The value of any mortgaged
property generally will change over
time from its value on the appraisal
or sales date. If residential real
estate values generally or in a
particular geographic area decline,
the loan-to-value ratios shown in
the table in the accompanying
collateral annex might not be a
reliable indicator of the rates of
delinquencies, foreclosures and
losses that could occur on the
Mortgage Loans. If the residential
real estate market should experience
an overall decline in property
values large enough to cause the
outstanding balances of the Mortgage
Loans and any secondary financing on
the related mortgaged properties to
equal or exceed the value of the
mortgaged properties, delinquencies,
foreclosures and losses could be
higher than those now generally
experienced in the mortgage lending
industry or in the Sponsor's prior
securitizations involving the
Depositor.
In addition, adverse economic
conditions and other factors (which
may or may not affect real property
values) may affect the mortgagors'
timely payment of scheduled payments
of principal and interest on the
Mortgage Loans and, accordingly, the
actual rates of delinquencies,
foreclosures and losses with respect
to the mortgage pool. These other
factors could include excessive
building resulting in an oversupply
of housing in a particular area or a
decrease in employment reducing the
demand for housing in an area. To
the extent that credit enhancements
do not cover such losses, your yield
may be adversely impacted.
United States Military
Operations May Increase
Risk of Relief Act Shortfalls............. As a result of military operations
in Afghanistan and Iraq, the United
States has placed a substantial
number of armed forces reservists
and members of the National Guard on
active duty status. It is possible
that the number of reservists and
members of the National Guard placed
on active duty status may remain at
high levels for an extended time. To
the extent that a member of the
military, or a member of the armed
forces reserves or National Guard
who is called to active duty, is a
mortgagor of a mortgage loan in the
trust, the interest rate limitation
of the Servicemembers Civil Relief
Act, and any comparable state law,
will apply. This may result in
interest shortfalls on the Mortgage
Loans in the trust, which will be
borne by all classes of interest
bearing Certificates and components.
Neither the Sponsor nor the
Depositor has taken any action to
determine whether any of the
Mortgage Loans would be affected by
these interest rate limitations.
Banc of America Securities LLC 31
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Risk Factors
------------
The Certificates May Not
Receive Amounts Expected
from any Yield
Maintenance Agreements.................... The yield maintenance agreement
payment for any Distribution Date
will be based on the lesser of (x)
the Class Balance(s) of the related
Class or Classes or (y) the related
notional amount, which will decrease
for each Distribution Date during
the life of the applicable yield
maintenance agreement. The notional
amounts are generally derived by
using an assumed prepayment rate for
the applicable mortgage loans. The
actual rate of prepayment on the
applicable mortgage loans is likely
to differ from the rate assumed. If
prepayments on these mortgage loans
occur at a rate slower than the rate
used in determining the notional
amounts, the Class Balance(s) of the
related Class or Classes will be
greater than the related notional
amount for a Distribution Date and a
holder of the related Certificates
will receive less than if the
counterparty were required to make
payments based on the Class
Balance(s) of the related Class or
Classes.
There is a Risk that Interest
Payments on the Mortgage Loans
May Be Insufficient to Pay Interest
on Your Certificates...................... When a Mortgage Loan is prepaid in
full, the mortgagor is charged
interest only up to the date on
which payment is made, rather than
for an entire month. When a
mortgagor makes a partial principal
prepayment on a Mortgage Loan, the
mortgagor is not charged interest on
the prepayment for the month in
which the principal prepayment was
received. This may result in a
shortfall in interest collections
available for payment on the next
Distribution Date. The Servicer is
required to cover a portion of the
shortfall in interest collections
that are attributable to prepayments
in full and partial prepayments on
the Mortgage Loans, but in each case
only up to the amount of
Compensating Interest related to
such Mortgage Loans for such
Distribution Date. To the extent
these shortfalls are not covered by
the amount of related Compensating
Interest, they will be allocated pro
rata to the related classes of
interest-bearing Certificates and
any related components.
Certificates May Not Be
Appropriate for Individual
Investors................................. If you are an individual investor
who does not have sufficient
resources or expertise to evaluate
the particular characteristics of a
class of Offered Certificates, the
Offered Certificates may not be an
appropriate investment for you. This
may be the case because, among other
things:
o if you purchase your
Certificates at a price other
than par, your yield to
maturity will be sensitive to
the uncertain rate and timing
of principal prepayments on
the applicable Mortgage Loans;
Banc of America Securities LLC 32
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Risk Factors
------------
o the rate of principal
distributions on, and the
weighted average lives of, the
Offered Certificates will be
sensitive to the uncertain
rate and timing of principal
prepayments on the applicable
Mortgage Loans and the
priority of principal
distributions among the
classes of Certificates, and
as such, the Offered
Certificates and, in
particular, any class of
special retail certificates,
may be inappropriate
investments for you if you
require a distribution of a
particular amount of principal
on a specific date or an
otherwise predictable stream
of distributions;
o you may not be able to
reinvest amounts distributed
in respect of principal on
your Certificates (which
distributions, in general, are
expected to be greater during
periods of relatively low
interest rates) at a rate at
least as high as the
applicable pass-through rate
or your expected yield;
o a secondary market for the
Offered Certificates may not
develop or provide you with
liquidity of investment; and
o you must pay tax on any
interest or original issue
discount in the year it
accrues, even if the cash is
paid to you in a different
year.
Limited Source of
Payments -- No Recourse
to Depositor, Seller,
Servicer or Trustee....................... Proceeds of the Mortgage Loans (and
any insurance policy with respect to
a class of insured special retail
certificates) will be the sole
source of payments on the
Certificates. The Certificates do
not represent an interest in or
obligation of the Depositor, the
Servicer, the Sponsor, the Trustee
or any of their affiliates. There
are, however, limited obligations of
the Depositor with respect to
certain breaches of representations
and warranties, and limited
obligations of the Servicer with
respect to its servicing
obligations.
Neither the Certificates nor the
Mortgage Loans will be guaranteed by
or insured by any governmental
agency or instrumentality, the
Depositor, the Sponsor, the
Servicer, the Trustee or any of
their affiliates. Consequently, if
payments on the Mortgage Loans are
insufficient or otherwise
unavailable to make all payments
required on the Certificates, there
will be no recourse to the
Depositor, the Sponsor, the
Servicer, the Trustee or any of
their affiliates.
Limited Liquidity......................... The Underwriter intends to make a
market for purchase and sale of the
Offered Certificates after their
initial issuance, but the
Underwriter has no obligation to do
so. There is no assurance that such
a secondary market will develop or,
if it does develop, that it will
provide you with liquidity of
investment or that it will continue
for the life of the Offered
Certificates. As a result, you may
not be able to sell your
Certificates
Banc of America Securities LLC 33
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The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Risk Factors
------------
or you may not be able to sell your
Certificates at a high enough price
to produce your desired return on
investment.
The secondary market for
mortgage-backed securities has
experienced periods of illiquidity
and can be expected to do so in the
future. Illiquidity means that there
may not be any purchasers for your
class of Certificates. Although any
class of Certificates may experience
illiquidity, it is more likely that
classes of Certificates that are
more sensitive to prepayment, credit
or interest rate risk (such as the
Interest Only, Super Senior Support,
Companion, Inverse Floating Rate,
Principal Only, or Subordinated
Certificates) will experience
illiquidity.
Alternative Underwriting
Standards May Increase Risk of Loss....... Certain of the Mortgage Loans may
have been originated using the
Sponsor's "Alternative A"
underwriting guidelines. See "The
Mortgage Loan Programs--Mortgage
Loan Underwriting--Bank of America
Alternative Underwriting Standards"
in the base prospectus. These
underwriting guidelines are
different from and, in certain
respects, less stringent than the
general underwriting guidelines
employed by the sponsor. For
example, certain of the mortgage
loans may have been originated with
less than standard documentation or
with higher maximum loan-to-value
ratios. Accordingly, the mortgage
loans may experience rates of
delinquencies, defaults,
foreclosure, bankruptcy and loss
that are higher than those
experienced by mortgage loans
underwritten using the Sponsor's
general underwriting standards.
The Rate of Default on
Mortgage Loans that Are
Secured by Investor
Properties May be Higher than on
Other Mortgage Loans...................... Certain of the Mortgage Loans may be
secured by investor properties. An
investor property is a property
which, at the time of origination,
the mortgagor represented would not
be used as the mortgagor's primary
residence or second home. Because
the mortgagor is not living on the
property, the mortgagor may be more
likely to default on the mortgage
loan than on a comparable mortgage
loan secured by a primary residence,
or to a lesser extent, a second
home. In addition, income expected
to be generated from an investor
property may have been considered
for underwriting purposes in
addition to the income of the
mortgagor from other sources. Should
this income not materialize, it is
possible the mortgagor would not
have sufficient resources to make
payments on the mortgage loan.
There Are Risks Relating
to Mortgaged Properties Subject to
Second Lien Mortgage Loans................ At the time of origination of
certain of the Mortgage Loans, a
lender other than the Sponsor may
have originated a second lien
mortgage loan. Mortgage Loans that
have second lien mortgage loans
Banc of America Securities LLC 34
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust 2006-8
Mortgage Pass-Through Certificates, Series 2006-8
- --------------------------------------------------------------------------------
Risk Factors
------------
encumbering the same mortgaged
property may have higher rates of
delinquency and foreclosure relative
to mortgage loans that do not have
second lien mortgage loans behind
them. This may be due to changes in
the mortgagor's debt-to-income
profile, the fact that mortgagors
may then have less equity in the
mortgaged property or other factors.
You should also note that any
mortgagor could obtain a second lien
mortgage loan at any time subsequent
to the date of origination of their
first lien mortgage loan from any
lender.
Subordinate Certificates
May Provide Subordination for All
Groups.................................... The Subordinate Certificates may
provide credit support for more than
one Groups of Senior Certificates
and thus the outstanding Class
Balances of such Subordinate
Certificates could be reduced to
zero as a result of a
disproportionate amount of principal
losses on the Mortgage Loans in one
Loan Group. Therefore, these losses
on the Mortgage Loans in one Loan
Group will reduce the subordination
provided by the Subordinate
Certificates to the other Groups of
Senior Certificates and increase the
likelihood that losses may be
allocated to the other Groups of
Senior Certificates.
Under certain circumstances due to a
cross-collateralization mechanism,
principal otherwise payable to these
Subordinate Certificates will be
paid to certain Senior Certificates.
High Rates of LIBOR or Another
Index May Result in a Lower or
Negative Yield on any Inverse
Floating Rate Interest Only
Certificates.............................. If you are purchasing any inverse
floating rate interest only
certificates, in addition to the
risk that a rapid rate of
prepayments on the related Mortgage
Loans may result in a lower actual
yield than you expected or a
negative yield, you should also
consider the risk that high rates of
LIBOR or high rates of another
applicable index for your
certificates may result in the
failure to recover your initial
investment.
Categories of Classes of Certificates
The Certificates of any series may be comprised of one or more classes.
The classes, in general, fall into different categories. The chart in the base
prospectus under the heading "Description of the Certificates--Categories of
Classes of Certificates" identifies and generally defines certain of the more
typical categories. The prospectus supplement for a series of Certificates may
identify the classes which comprise that series by reference to those categories
or another category specified in the prospectus supplement.
Banc of America Securities LLC 35
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
[Banc of America Securities Logo]
- --------------------------------------------------------------------------------
The asset-backed securities referred to in these materials, and the asset
pools backing them, are subject to modification or revision (including the
possibility that one or more classes of securities may be split, combined or
eliminated at any time prior to issuance or availability of a final prospectus)
and are offered on a "when, as and if issued" basis. You understand that, when
you are considering the purchase of these securities, a contract of sale will
come into being no sooner than the date on which the relevant class has been
priced and we have confirmed the allocation of securities to be made to you; any
"indications of interest" expressed by you, and any "soft circles" generated by
us, will not create binding contractual obligations for you or us.
Because the asset-backed securities are being offered on a "when, as and
if issued" basis, any contract of sale will terminate, by its terms, without any
further obligation or liability between us, if the securities themselves, or the
particular class to which the contract relates, are not issued. In addition,
since the asset-backed securities and the asset pools backing them are subject
to modification or revision (including the possibility that one or more classes
of securities may be split, combined or eliminated at any time prior to issuance
or availability of a final prospectus), any such contract also is conditioned
upon the understanding that no material change will occur with respect to the
relevant class of securities prior to the closing date. If a material change
does occur with respect to such class, our contract will terminate, by its
terms, without any further obligation or liability between us (the "Automatic
Termination"). If an Automatic Termination occurs, we will provide you with
revised offering materials reflecting the material change and give you an
opportunity to purchase such class. To indicate your interest in purchasing the
class, you must communicate to us your desire to do so within such timeframe as
may be designated in connection with your receipt of the revised offering
materials.
Mortgage Pass-Through Certificates, Series 2006-8
Banc of America Alternative Loan Trust 2006-8
Issuing Entity
Banc of America Mortgage Securities, Inc.
Depositor
Bank of America, National Association
Sponsor and Servicer
[Bank of America Logo]
October 12, 2006
Banc of America Securities LLC
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The issuer has filed a registration statement (including a prospectus) with the
SEC for the offering to which this communication relates. Before you invest, you
should read the prospectus in that registration statement and other documents
the issuer has filed with the SEC for more complete information about the issuer
and this offering. You may get these documents for free by visiting EDGAR on the
SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any
dealer participating in the offering will arrange to send you the prospectus if
you request it by calling toll-free 1-800-294-1322 or you e-mail a request to
dg.prospectus_distribution@bofasecurities.com. The securities may not be
suitable for all investors. Banc of America Securities LLC and its affiliates
may acquire, hold or sell positions in these securities, or in related
derivatives, and may have an investment or commercial banking relationship with
the issuer.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust, Inc.
Mortgage Pass-Through Certificates, 2006-8
- --------------------------------------------------------------------------------
DISCLAIMER
----------
This free writing prospectus is being delivered to you solely to provide you
with information about the offering of the securities referred to in this free
writing prospectus and to solicit an offer to purchase the securities, when, as
and if issued. Any such offer to purchase made by you will not be accepted and
will not constitute a contractual commitment by you to purchase any of the
securities until we have accepted your offer to purchase securities. You may
withdraw your offer to purchase securities at any time prior to our acceptance
of your offer.
The information in this free writing prospectus supersedes information contained
in any prior similar free writing prospectus relating to these securities prior
to the time of your commitment to purchase.
This free writing prospectus is not an offer to sell or solicitation of an offer
to buy these securities in any state where such offer, solicitation or sale is
not permitted.
IRS CIRCULAR 230 NOTICE
THIS FREE WRITING PROSPECTUS IS NOT INTENDED OR WRITTEN TO BE USED,
AND CANNOT BE USED, FOR THE PURPOSE OF AVOIDING U.S. FEDERAL, STATE
OR LOCAL TAX PENALTIES. THIS FREE WRITING PROSPECTUS IS WRITTEN AND
PROVIDED BY THE UNDERWRITER IN CONNECTION WITH THE PROMOTION OR
MARKETING OF THE TRANSACTIONS OR MATTERS ADDRESSED HEREIN. INVESTORS
SHOULD SEEK ADVICE BASED ON THEIR PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR.
ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW THIS DOCUMENT ARE NOT
APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR
OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION
BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.
Banc of America Securities LLC
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust, Inc.
Mortgage Pass-Through Certificates, 2006-8
- --------------------------------------------------------------------------------
Selected Aggregate Mortgage Loan Data as of October 1, 2006(1)
Range or Total Weighted Average
---------------------------- ----------------
Number of Aggregate Mortgage Loans 3,309
Aggregate Unpaid Principal Balance $501,497,867.60
Unpaid Principal Balance $9,990.96 to 2,970,000.00 $151,555.72
Mortgage Interest Rate 5.250% to 8.750% 6.952%
Servicing Fee Rate 0.250%
Trustee Fee Rate 0.0045%
Administrative Fee Rate 0.2545%
Remaining Terms to Stated Maturity 115 to 480 months 344 months
Original Term 120 to 480 months 345 months
Number of Months Since Origination 1 to 23 months 2 months
Original Loan-to-Value Ratio 3.46% to 103.00% 74.76%
Credit Scores 600 to 839 722
Latest Maturity Date October 1, 2046
Number of Interest-Only Mortgage Loans 16
Aggregate Unpaid Principal Balance of
Interest-Only Mortgage Loans $6,800,374.63
Unpaid Principal Balance of Interest-Only
Mortgage Loans $110,000.00 to $1,500,000.00 $425,023.41
Number of Buy-Down Loans 0
Aggregate Unpaid Principal Balance of
Buy-Down Loans N/A
Unpaid Principal Balance of Buy-Down Loans N/A
Number of BPP Mortgage Loans 476
Aggregate Unpaid Principal Balance of BPP Mortgage
Loans $60,457,568.56
Unpaid Principal Balance of BPP Mortgage Loans $11,261.76 to $799,705.74 $127,011.70
Number of Mortgage Loans underwritten using
"Alternative A" underwriting standards 707
Aggregate Unpaid Principal Balance of Mortgage
Loans underwritten using "Alternative A"
underwriting standards $187,912,966.53
Unpaid Principal Balance of Mortgage Loans
underwritten using "Alternative A" underwriting
standards $9,990.96 to $2,970,000.00 $265,789.20
Number of Mortgage Loans secured by leases on real
property 39
Aggregate Unpaid Principal Balance of Mortgage
Loans secured by leases on real property $5,167,261.25
Unpaid Principal Balance of Mortgage Loans secured
by leases on real property $29,600.00 to $1,640,698.61 $132,493.88
Geographic Concentration of Mortgaged Properties
in Excess of 5.00% of the Aggregate Unpaid
Principal Balance
California 15.35%
Florida 15.13%
Texas 9.74%
North Carolina 5.91%
Maximum Single Five-Digit Zip Code Concentration 0.87%
- ------------------------
(1) Approximate (+/-5%).
Banc of America Securities LLC
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust, Inc.
Mortgage Pass-Through Certificates, 2006-8
- --------------------------------------------------------------------------------
Occupancy of Mortgaged Properties(1)(2)
Number of Aggregate Stated % of Aggregate
Aggregate Mortgage Principal Balance Cut-off Date Pool
Occupancy(2) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
Primary Residence 1,688 $ 311,816,153.46 62.18%
Investor Property 1,463 156,468,987.91 31.20
Second Home 158 33,212,726.23 6.62
Total 3,309 $ 501,497,867.60 100.00%
- ----------------------
(1) Based solely on representations of the mortgagor at the time of
origination of the related Aggregate Mortgage Loan.
(2) Approximate (+/-5%).
Property Type(1)
Number of Aggregate Stated % of Aggregate
Aggregate Mortgage Principal Balance Cut-off Date Pool
Property Type (1) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
Single Family Residence 2,239 $ 315,981,363.55 63.01%
PUD-Detached 301 65,447,596.09 13.05
Condominium - Low 307 39,937,115.88 7.96
2-Family 218 35,704,045.33 7.12
4-Family 39 10,076,436.63 2.01
PUD-Attached 61 9,725,100.81 1.94
Condominium - High 35 7,858,995.61 1.57
3-Family 33 6,521,437.66 1.30
Townhouse 47 5,252,831.71 1.05
Condotel 29 4,992,944.33 1.00
Total 3,309 $ 501,497,867.60 100.00%
- ------------------------
(1) Approximate (+/-5%).
Banc of America Securities LLC
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust, Inc.
Mortgage Pass-Through Certificates, 2006-8
- --------------------------------------------------------------------------------
Mortgage Loan Purposes(3)
Number of Aggregate Stated % of Aggregate
Aggregate Mortgage Principal Balance Cut-off Date Pool
Purpose (3) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
Purchase 2,092 $ 290,593,014.03 57.95%
Refinance-Cashout (1) 850 138,857,412.91 27.69
Refinance-Rate/Term (2) 367 72,047,440.66 14.37
Total 3,309 $ 501,497,867.60 100.00%
- ------------------------
(1) "Refinance--Cashout" means a mortgage loan originated in connection with a
refinancing that has a principal balance in excess of the principal
balance on the old loan plus settlement costs where cash is distributed to
the mortgagor.
(2) "Refinance--Rate/Term" means a mortgage loan originated in connection with
a refinancing to reduce the mortgage interest rate or reduce or increase
the term.
(3) Approximate (+/-5%).
Documentation Type(1)
Number of Aggregate Stated % of Aggregate
Aggregate Mortgage Principal Balance Cut-off Date Pool
Documentation Type (1) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
Standard 1,380 $ 187,150,025.30 37.32%
Stated 635 174,384,248.57 34.77
Reduced 1,182 120,403,306.10 24.01
No Ratio 59 12,026,504.95 2.40
Rapid 26 4,578,981.91 0.91
SISA 16 1,944,019.26 0.39
All Ready Home 11 1,010,781.51 0.20
Total 3,309 $ 501,497,867.60 100.00%
- ------------------------
(1) Approximate (+/-5%).
Banc of America Securities LLC
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
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[Banc of America Securities Logo] Banc of America Alternative Loan Trust, Inc.
Mortgage Pass-Through Certificates, 2006-8
- --------------------------------------------------------------------------------
Geographical Distribution of the Mortgaged Properties(1)(2)
Number of Aggregate Stated % of Aggregate
Aggregate Mortgage Principal Balance Cut-off Date Pool
Geographical Area (2) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
Alabama 7 $ 659,510.35 0.13%
Arizona 76 10,926,086.13 2.18
Arkansas 39 3,085,451.92 0.62
California 274 76,956,871.42 15.35
Colorado 23 3,110,123.02 0.62
Connecticut 17 4,403,818.13 0.88
Delaware 3 282,527.24 0.06
District of Columbia 9 2,561,270.82 0.51
Florida 454 75,893,944.75 15.13
Georgia 195 23,659,719.55 4.72
Hawaii 18 4,372,257.55 0.87
Idaho 15 2,408,263.46 0.48
Illinois 77 16,858,407.48 3.36
Indiana 28 3,075,099.04 0.61
Iowa 23 2,268,926.40 0.45
Kansas 94 7,891,566.60 1.57
Kentucky 11 1,071,815.34 0.21
Louisiana 5 195,046.03 0.04
Maine 17 2,986,842.74 0.60
Maryland 118 20,036,609.26 4.00
Massachusetts 33 8,243,269.88 1.64
Michigan 24 3,474,440.91 0.69
Minnesota 19 3,658,122.01 0.73
Mississippi 11 979,425.21 0.20
Missouri 137 15,180,610.04 3.03
Montana 3 498,820.03 0.10
Nebraska 7 562,919.60 0.11
Nevada 33 6,098,913.09 1.22
New Hampshire 9 1,414,954.36 0.28
New Jersey 39 9,881,865.75 1.97
New Mexico 25 3,738,993.06 0.75
New York 80 19,017,311.87 3.79
North Carolina 246 29,653,650.98 5.91
North Dakota 1 39,871.03 0.01
Ohio 23 2,249,984.08 0.45
Oklahoma 78 6,152,812.35 1.23
Oregon 33 5,340,465.08 1.06
Pennsylvania 68 7,777,571.86 1.55
Rhode Island 3 601,330.26 0.12
South Carolina 138 19,177,563.70 3.82
South Dakota 2 205,736.70 0.04
Tennessee 86 10,100,441.34 2.01
Texas 461 48,833,842.29 9.74
Banc of America Securities LLC
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust, Inc.
Mortgage Pass-Through Certificates, 2006-8
- --------------------------------------------------------------------------------
Utah 13 1,847,900.14 0.37
Vermont 4 1,018,037.99 0.20
Virginia 106 14,896,672.59 2.97
Washington 72 10,863,108.38 2.17
West Virginia 4 258,328.77 0.05
Wisconsin 48 7,026,747.02 1.40
Total 3,309 $ 501,497,867.60 100.00%
- ------------------------
(1) As of the Cut-off Date, no more than approximately 0.87% of the Aggregate
Mortgage Loans are expected to be secured by Mortgaged Properties located
in any one five-digit postal zip code.
(2) Approximate (+/-5%).
Current Mortgage Loan Principal Balances(1)(2)
Number of Aggregate Stated % of Aggregate
Current Mortgage Loan Principal Aggregate Mortgage Principal Balance Cut-off Date Pool
Balances(2) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
0.01 - 50,000.00 336 $ 12,217,254.82 2.44%
50,000.01 - 100,000.00 996 76,438,222.66 15.24
100,000.01 - 150,000.00 950 117,481,283.32 23.43
150,000.01 - 200,000.00 388 67,133,349.01 13.39
200,000.01 - 250,000.00 212 47,477,785.55 9.47
250,000.01 - 300,000.00 125 34,031,208.85 6.79
300,000.01 - 350,000.00 76 24,567,382.12 4.90
350,000.01 - 400,000.00 71 26,764,670.68 5.34
400,000.01 - 450,000.00 36 15,281,831.80 3.05
450,000.01 - 500,000.00 27 12,866,892.91 2.57
500,000.01 - 550,000.00 23 11,943,869.30 2.38
550,000.01 - 600,000.00 22 12,768,336.84 2.55
600,000.01 - 650,000.00 16 10,077,425.76 2.01
650,000.01 - 700,000.00 5 3,399,051.59 0.68
700,000.01 - 750,000.00 4 2,877,420.30 0.57
750,000.01 - 800,000.00 3 2,373,380.42 0.47
800,000.01 - 850,000.00 1 850,000.00 0.17
850,000.01 - 900,000.00 2 1,780,512.27 0.36
900,000.01 - 950,000.00 2 1,866,104.49 0.37
950,000.01 - 1,000,000.00 5 4,931,114.30 0.98
1,000,000.01 - 1,500,000.00 5 6,369,019.58 1.27
1,500,000.01 - 2,000,000.00 3 5,031,751.03 1.00
2,500,000.01 - 3,000,000.00 1 2,970,000.00 0.59
Total 3,309 $ 501,497,867.60 100.00%
- ------------------------
(1) As of the Cut-off Date, the average outstanding principal balance of the
Aggregate Mortgage Loans is expected to be approximately $151,556.
(2) Approximate (+/-5%).
Banc of America Securities LLC
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust, Inc.
Mortgage Pass-Through Certificates, 2006-8
- --------------------------------------------------------------------------------
Original Debt-to-Income Ratios(1)(2)
Number of Aggregate Stated % of Aggregate
Aggregate Mortgage Principal Balance Cut-off Date Pool
Original Debt-to-Income Ratios(2) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
Not Calculated 31 $ 7,927,142.47 1.58%
0.01 - 10.00 69 6,034,872.80 1.20
10.01 - 20.00 274 33,697,253.25 6.72
20.01 - 30.00 670 87,109,968.84 17.37
30.01 - 40.00 995 168,318,450.28 33.56
40.01 - 50.00 912 148,891,366.92 29.69
50.01 - 60.00 316 44,933,688.73 8.96
60.01 - 70.00 40 4,312,825.25 0.86
70.01 - 80.00 2 272,299.06 0.05
Total 3,309 $ 501,497,867.60 100.00%
- ------------------------
(1) As of the Cut-off Date, the weighted average Debt-to-Income Ratio at
origination of the Aggregate Mortgage Loans is expected to be
approximately 36.64%.
(2) Approximate (+/-5%).
Original Loan-to-Value Ratios(1)(2)
Number of Aggregate Stated % of Aggregate
Aggregate Mortgage Principal Balance Cut-off Date Pool
Original Loan-to-Value Ratios (2) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
0.01 - 5.00 2 $ 39,990.96 0.01%
5.01 - 10.00 3 203,142.70 0.04
10.01 - 15.00 9 834,842.32 0.17
15.01 - 20.00 12 908,737.48 0.18
20.01 - 25.00 26 2,548,043.37 0.51
25.01 - 30.00 21 2,420,882.24 0.48
30.01 - 35.00 34 4,309,357.70 0.86
35.01 - 40.00 39 4,649,023.95 0.93
40.01 - 45.00 44 6,769,886.59 1.35
45.01 - 50.00 72 11,126,997.00 2.22
50.01 - 55.00 71 10,684,668.86 2.13
55.01 - 60.00 99 17,338,978.02 3.46
60.01 - 65.00 105 16,534,454.30 3.30
65.01 - 70.00 256 52,656,800.63 10.50
70.01 - 75.00 285 49,556,173.04 9.88
75.01 - 80.00 1,667 253,440,708.73 50.54
80.01 - 85.00 49 6,422,568.75 1.28
85.01 - 90.00 321 35,650,380.28 7.11
90.01 - 95.00 175 23,180,209.79 4.62
95.01 - 100.00 14 1,725,174.53 0.34
over 100.01 5 496,846.36 0.10
Total 3,309 $ 501,497,867.60 100.00%
- ------------------------
(1) As of the Cut-off Date, the weighted average Loan-to-Value Ratio at
origination of the Aggregate Mortgage Loans is expected to be
approximately 74.76%.
(2) Approximate (+/-5%).
Banc of America Securities LLC
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust, Inc.
Mortgage Pass-Through Certificates, 2006-8
- --------------------------------------------------------------------------------
Mortgage Interest Rates(1)(2)
Number of Aggregate Stated % of Aggregate
Aggregate Mortgage Principal Balance Cut-off Date Pool
Mortgage Interest Rates (2) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
5.001 - 5.250 2 $ 958,540.19 0.19%
5.251 - 5.500 3 289,789.06 0.06
5.501 - 5.750 15 1,921,862.99 0.38
5.751 - 6.000 48 7,611,086.35 1.52
6.001 - 6.250 131 18,589,178.26 3.71
6.251 - 6.500 437 60,909,469.07 12.15
6.501 - 6.750 692 106,084,927.32 21.15
6.751 - 7.000 825 120,863,828.44 24.10
7.001 - 7.250 541 82,837,837.95 16.52
7.251 - 7.500 396 57,553,064.61 11.48
7.501 - 7.750 117 22,831,404.94 4.55
7.751 - 8.000 93 16,373,403.19 3.26
8.001 - 8.250 8 4,341,706.03 0.87
8.501 - 8.750 1 331,769.20 0.07
Total 3,309 $ 501,497,867.60 100.00%
- ------------------------
(1) As of the Cut-off Date, the weighted average mortgage interest rate of the
Aggregate Mortgage Loans is expected to be approximately 6.952% per annum.
(2) Approximate (+/-5%).
Number of Months Since Origination(1)(2)
Number of Aggregate Stated % of Aggregate
Aggregate Mortgage Principal Balance Cut-off Date Pool
Months Since Origination (2) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
1 - 2 2,930 $ 436,874,788.02 87.11%
3 - 4 183 28,553,564.42 5.69
5 - 6 164 26,415,438.13 5.27
7 - 8 11 3,706,197.12 0.74
9 - 10 1 256,492.50 0.05
11 - 12 5 1,424,182.22 0.28
13 - 14 5 1,056,102.89 0.21
15 - 16 5 1,672,877.03 0.33
17 - 18 3 791,266.44 0.16
over 21 2 746,958.83 0.15
Total 3,309 $ 501,497,867.60 100.00%
- ------------------------
(1) As of the Cut-off Date, the weighted average number of months since
origination of the Aggregate Mortgage Loans is expected to be
approximately 2 months.
(2) Approximate (+/-5%).
Banc of America Securities LLC
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
[Banc of America Securities Logo] Banc of America Alternative Loan Trust, Inc.
Mortgage Pass-Through Certificates, 2006-8
- --------------------------------------------------------------------------------
Remaining Terms(1)(2)
Number of Aggregate Stated % of Aggregate
Aggregate Mortgage Principal Balance Cut-off Date Pool
Remaining Terms (2) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
101 - 120 14 $ 1,651,283.56 0.33%
121 - 140 1 86,819.45 0.02
161 - 180 516 58,974,170.19 11.76
221 - 240 17 1,937,787.69 0.39
281 - 300 21 2,457,786.73 0.49
341 - 360 2,596 403,028,385.97 80.36
361 >= 144 33,361,634.01 6.65
Total 3,309 $ 501,497,867.60 100.00%
- ------------------------
(1) As of the Cut-off Date, the weighted average remaining term to stated
maturity of the Aggregate Mortgage Loans is expected to be approximately
344 months.
(2) Approximate (+/-5%).
Credit Scores of Mortgagors(1)(2)
Number of Aggregate Stated % of Aggregate
Aggregate Mortgage Principal Balance Cut-off Date Pool
Credit Scores(2) Loans as of Cut-off Date Principal Balance
- -------------------------------------------------- ------------------ ------------------ -----------------
801 - 850 145 $ 20,662,874.78 4.12%
751 - 800 929 140,326,068.77 27.98
701 - 750 1,018 153,801,155.45 30.67
651 - 700 923 146,705,869.58 29.25
601 - 650 278 36,836,298.24 7.35
551 - 600 1 67,083.20 0.01
Not Rated 15 3,098,517.58 0.62
Total 3,309 $ 501,497,867.60 100.00%
- ------------------------
(1) The scores shown are Bureau Credit Scores from Experian (FICO), Equifax
(Beacon) and TransUnion (Empirica).
(2) Approximate (+/-5%).
Banc of America Securities LLC
- --------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor,
any underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free 1-800-294-1322 or you
e-mail a request to dg.prospectus_distribution@bofasecurities.com. The
securities may not be suitable for all investors. Banc of America Securities LLC
and its affiliates may acquire, hold or sell positions in these securities, or
in related derivatives, and may have an investment or commercial banking
relationship with the depositor.
The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.
- --------------------------------------------------------------------------------