-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, O1LEmIXwbIu7WlexoLf9y7qLyMICID3sLYNrRwiqmerDrBcsSezNWVHUUvuPPMBF QuMuZ99bMesn2E8SwFLv1g== 0000914121-05-001636.txt : 20050826 0000914121-05-001636.hdr.sgml : 20050826 20050826153706 ACCESSION NUMBER: 0000914121-05-001636 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050825 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050826 DATE AS OF CHANGE: 20050826 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WELLS FARGO ASSET SECURITIES CORP CENTRAL INDEX KEY: 0001011663 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 521972128 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-02209 FILM NUMBER: 051051957 BUSINESS ADDRESS: STREET 1: 7485 NEW HORIZON WAY CITY: FREDERICK STATE: MD ZIP: 21703 BUSINESS PHONE: 3018468881 MAIL ADDRESS: STREET 1: 7485 NEW HORIZON WAY CITY: FREDERIDK STATE: MD ZIP: 21703 FORMER COMPANY: FORMER CONFORMED NAME: NORWEST ASSET SECURITIES CORP DATE OF NAME CHANGE: 19960717 8-K 1 p853873-8k.txt CURRENT REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: August 25, 2005 (Date of earliest event reported) Wells Fargo Asset Securities Corporation - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 333-122307 52-1972128 - -------------------------------------------------------------------------------- (State or other (Commission File No.) (IRS Employer jurisdiction of incorporation) Identification No.) 7430 New Technology Way, Frederick, Maryland 21703 - -------------------------------------------------------------------------------- Address of principal executive offices (Zip Code) Registrant's Telephone Number, including area code (301) 846-8881 ---------------------------- - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: / / Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) / / Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) / / Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) / / Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 8.01. Other Events ------------ Attached as an exhibit are the Collateral Term Sheets (as defined in the no-action letter dated February 17, 1995 issued by the Securities and Exchange Commission to the Public Securities Association) prepared by Banc of America Securities LLC which are hereby filed pursuant to such letter. ITEM 9.01 Financial Statements and Exhibits --------------------------------- (c) Exhibits Item 601(a) of Regulation S-K Exhibit No. Description - ----------------- ----------- (99) Collateral Term Sheets prepared by Banc of America Securities LLC in connection with Wells Fargo Asset Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-7 Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WELLS FARGO ASSET SECURITIES CORPORATION August 25, 2005 By: /s/ Bradley A. Davis ---------------------------------- Bradley A. Davis Vice President INDEX TO EXHIBITS Paper (P) or Exhibit No. Description Electronic (E) - ----------- ----------- -------------- (99) Collateral Term Sheets prepared by E Banc of America Securities LLC in connection with Wells Fargo Asset Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-7 EX-99 2 we853873-ex99.txt COLLATERAL TERM SHEETS EXHIBIT 99 WFMBS 2005-7 Detailed Stratification
1. Original Balance - ------------------------------------------------------------------------------------------------------------------------------------ Aggregate Number Current Percent W.A. W.A. Max W.A. Min. Percent Mortgage Principal Principal Original Combined Original FICO FICO Percent Full Original Balance Loans Balance Balance LTV LTV LTV Score Score IO Documentation - ------------------------------------------------------------------------------------------------------------------------------------ 1 - 100,000 6 $496,092 0.12% 74.25% 87.36% 94.47% 746 701 67.77% 82.89% 100,001 - 200,000 40 6,042,611 1.51 71.82 81.40 95.00 742 647 48.89 45.75 200,001 - 300,000 44 11,195,089 2.79 72.99 82.77 95.00 738 630 62.37 42.46 300,001 - 400,000 104 39,323,099 9.82 71.57 76.35 95.00 740 612 25.10 42.96 400,001 - 500,000 253 114,851,492 28.67 71.08 75.80 95.00 748 620 11.14 40.93 500,001 - 600,000 136 75,097,941 18.74 71.35 75.71 93.33 741 624 14.74 51.96 600,001 - 700,000 90 58,385,093 14.57 72.05 75.99 84.14 751 624 11.29 56.56 700,001 - 800,000 38 28,469,966 7.11 68.33 72.05 80.00 752 664 21.37 73.34 800,001 - 900,000 11 9,451,172 2.36 66.05 72.72 80.00 755 701 9.26 53.94 900,001 - 1,000,000 46 45,095,297 11.26 64.83 73.09 80.00 754 620 26.41 56.63 1,000,001 - 1,100,000 3 3,150,750 0.79 76.28 76.28 80.00 740 712 66.08 100.00 1,100,001 - 1,200,000 1 1,161,757 0.29 57.08 57.08 57.08 788 788 0.00 100.00 1,200,001 - 1,300,000 1 1,243,761 0.31 66.76 66.76 66.76 692 692 0.00 100.00 1,400,001 - 1,500,000 2 2,923,512 0.73 59.84 67.14 75.00 783 769 51.31 100.00 1,700,001 - 1,800,000 1 1,746,557 0.44 58.27 58.27 58.27 801 801 100.00 100.00 1,900,001 - 2,000,000 1 2,000,000 0.50 58.82 73.53 58.82 771 771 100.00 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ (TABLE CONTINUED) - -------------------------------------------------------------------------------- Average Percent Percent Original W.A. Owner Cash-Out Percent Principal Loan Original Balance Occupied Refinance SFD Balance Age - -------------------------------------------------------------------------------- 1 - 100,000 100.00% 0.00% 100.00% $82,726 1 100,001 - 200,000 85.89 25.55 83.47 151,196 1 200,001 - 300,000 93.34 27.07 82.48 254,535 1 300,001 - 400,000 99.01 35.39 90.38 378,504 1 400,001 - 500,000 94.85 26.63 94.93 454,461 1 500,001 - 600,000 94.97 27.34 92.72 552,722 1 600,001 - 700,000 92.17 24.45 93.25 649,303 1 700,001 - 800,000 94.92 23.37 92.03 750,149 1 800,001 - 900,000 90.94 36.54 100.00 859,940 1 900,001 - 1,000,000 93.63 19.72 93.50 981,243 1 1,000,001 - 1,100,000 100.00 0.00 100.00 1,050,250 1 1,100,001 - 1,200,000 100.00 0.00 100.00 1,163,000 1 1,200,001 - 1,300,000 100.00 100.00 100.00 1,245,000 1 1,400,001 - 1,500,000 100.00 51.31 48.69 1,462,500 1 1,700,001 - 1,800,000 100.00 0.00 100.00 1,748,000 1 1,900,001 - 2,000,000 0.00 0.00 100.00 2,000,000 1 - -------------------------------------------------------------------------------- Total: 94.15% 26.36% 92.84% $516,124 1 - -------------------------------------------------------------------------------- Average: $516,123.89 Lowest: $76,000.00 Highest: $2,000,000.00
2. Coupon - ------------------------------------------------------------------------------------------------------------------------------------ Aggregate Number Current Percent W.A. W.A. Max W.A. Min. Percent Mortgage Principal Principal Original Combined Original FICO FICO Percent Full Coupon Loans Balance Balance LTV LTV LTV Score Score IO Documentation - ------------------------------------------------------------------------------------------------------------------------------------ 5.001 - 5.500 17 $7,506,090 1.87% 71.96% 74.77% 80.00% 763 687 16.11% 45.86% 5.501 - 6.000 719 374,031,646 93.36 70.08 75.25 95.00 748 612 19.33 51.76 6.001 - 6.500 40 18,721,589 4.67 70.68 76.03 93.33 725 623 17.64 54.58 6.501 - 7.000 1 374,864 0.09 85.58 85.58 85.58 696 696 0.00 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ (TABLE CONTINUED) - -------------------------------------------------------------------------------- Average Percent Percent Original W.A. Owner Cash-Out Percent Principal Loan Coupon Occupied Refinance SFD Balance Age - -------------------------------------------------------------------------------- 5.001 - 5.500 100.00% 17.11% 100.00% $441,970 1 5.501 - 6.000 94.03 25.83 92.85 520,722 1 6.001 - 6.500 94.05 41.29 89.75 468,473 1 6.501 - 7.000 100.00 0.00 100.00 376,550 5 - -------------------------------------------------------------------------------- Total: 94.15% 26.36% 92.84% $516,124 1 - -------------------------------------------------------------------------------- W.A.: 5.815 Lowest: 5.375 Highest: 6.625
3. Credit Score - ------------------------------------------------------------------------------------------------------------------------------------ Aggregate Number Current Percent W.A. W.A. Max W.A. Min. Percent Mortgage Principal Principal Original Combined Original FICO FICO Percent Full Credit Score Loans Balance Balance LTV LTV LTV Score Score IO Documentation - ------------------------------------------------------------------------------------------------------------------------------------ 800 - 849 51 $26,068,443 6.51% 65.27% 68.16% 80.00% 806 801 25.12% 43.78% 750 - 799 354 189,543,143 47.31 69.94 75.30 95.00 777 750 16.39 49.03 700 - 749 244 122,888,836 30.67 69.99 75.53 94.47 727 700 22.46 49.97 650 - 699 106 52,208,592 13.03 73.32 77.89 95.00 682 650 21.15 65.03 600 - 649 22 9,925,176 2.48 72.66 77.02 95.00 633 612 5.54 79.69 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ (TABLE CONTINUED) - -------------------------------------------------------------------------------- Average Percent Percent Original W.A. Owner Cash-Out Percent Principal Loan Credit Score Occupied Refinance SFD Balance Age - -------------------------------------------------------------------------------- 800 - 849 93.75% 15.58% 86.59% $511,582 1 750 - 799 93.37 20.35 93.52 535,997 1 700 - 749 95.51 35.71 94.24 504,067 1 650 - 699 92.87 27.97 89.59 493,021 1 600 - 649 100.00 45.40 96.05 451,910 1 - -------------------------------------------------------------------------------- Total: 94.15% 26.36% 92.84% $516,124 1 - --------------------------------------------------------------------------------
W.A.: 747 Lowest: 612 Highest: 816
4. Product Type - ------------------------------------------------------------------------------------------------------------------------------------ Aggregate Number Current Percent W.A. W.A. Max W.A. Min. Percent Mortgage Principal Principal Original Combined Original FICO FICO Percent Full Product Type Loans Balance Balance LTV LTV LTV Score Score IO Documentation - ------------------------------------------------------------------------------------------------------------------------------------ 30 YR FIXED 612 $322,559,304 80.51% 70.55% 75.42% 95.00% 747 612 0.00% 53.96% 30 YR FIXED - IO 162 76,803,196 19.17 68.43 74.71 95.00 747 634 100.00 42.58 25 YR FIXED 2 873,689 0.22 73.12 73.12 80.00 755 706 0.00 100.00 20 YR FIXED 1 398,000 0.10 78.04 78.04 78.04 778 778 0.00 0.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ (TABLE CONTINUED) - -------------------------------------------------------------------------------- Average Percent Percent Original W.A. Owner Cash-Out Percent Principal Loan Product Type Occupied Refinance SFD Balance Age - -------------------------------------------------------------------------------- 30 YR FIXED 94.55% 26.05% 93.39% $527,669 1 30 YR FIXED - IO 93.01 27.60 90.41 474,208 1 25 YR FIXED 45.14 45.14 100.00 437,500 1 20 YR FIXED 100.00 0.00 100.00 398,000 0 - -------------------------------------------------------------------------------- Total: 94.15% 26.36% 92.84% $516,124 1 - --------------------------------------------------------------------------------
5. Index - ------------------------------------------------------------------------------------------------------------------------------------ Aggregate Number Current Percent W.A. W.A. Max W.A. Min. Percent Mortgage Principal Principal Original Combined Original FICO FICO Percent Full Index Loans Balance Balance LTV LTV LTV Score Score IO Documentation - ------------------------------------------------------------------------------------------------------------------------------------ FIX 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ Total: 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ (TABLE CONTINUED) - -------------------------------------------------------------------------------- Average Percent Percent Original W.A. Owner Cash-Out Percent Principal Loan Index Occupied Refinance SFD Balance Age - -------------------------------------------------------------------------------- FIX 94.15% 26.36% 92.84% $516,124 1 - -------------------------------------------------------------------------------- Total: 94.15% 26.36% 92.84% $516,124 1 - --------------------------------------------------------------------------------
6. Documentation - ------------------------------------------------------------------------------------------------------------------------------------ Aggregate Number Current Percent W.A. W.A. Max W.A. Min. Percent Mortgage Principal Principal Original Combined Original FICO FICO Percent Full Documentation Loans Balance Balance LTV LTV LTV Score Score IO Documentation - ------------------------------------------------------------------------------------------------------------------------------------ Full 380 $207,620,423 51.82% 72.53% 78.30% 95.00% 741 620 15.75% 100.00% Asset Only 292 144,385,641 36.04 68.90 73.54 95.00 750 634 24.89 0.00 No Doc 101 45,823,386 11.44 63.88 67.73 90.00 763 612 14.43 0.00 Income Only 4 2,804,740 0.70 61.75 64.93 79.84 775 748 55.33 0.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ (TABLE CONTINUED) - -------------------------------------------------------------------------------- Average Percent Percent Original W.A. Owner Cash-Out Percent Principal Loan Documentation Occupied Refinance SFD Balance Age - -------------------------------------------------------------------------------- Full 93.08% 23.89% 94.03% $546,955 1 Asset Only 95.09 30.37 91.06 494,856 1 No Doc 95.69 26.59 92.63 454,271 1 Income Only 100.00 0.00 100.00 701,512 1 - -------------------------------------------------------------------------------- Total: 94.15% 26.36% 92.84% $516,124 1 - --------------------------------------------------------------------------------
7. Loan Purpose - ------------------------------------------------------------------------------------------------------------------------------------ Aggregate Number Current Percent W.A. W.A. Max W.A. Min. Percent Loan Mortgage Principal Principal Original Combined Original FICO FICO Percent Full Purpose Loans Balance Balance LTV LTV LTV Score Score IO Documentation - ------------------------------------------------------------------------------------------------------------------------------------ Purchase 438 $222,746,304 55.60% 73.94% 80.23% 95.00% 754 620 16.85% 55.24% C/O Refi 208 105,625,640 26.36 64.53 67.29 80.00 736 620 20.07 46.95 R/T Refi 131 72,262,245 18.04 66.73 71.73 93.33 743 612 25.00 48.42 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ (TABLE CONTINUED) - -------------------------------------------------------------------------------- Average Percent Percent Original W.A. Loan Owner Cash-Out Percent Principal Loan Purpose Occupied Refinance SFD Balance Age - -------------------------------------------------------------------------------- Purchase 92.55% 0.00% 92.05% $509,025 1 C/O Refi 97.19 100.00 93.47 508,352 1 R/T Refi 94.66 0.00 94.37 552,199 1 - -------------------------------------------------------------------------------- Total: 94.15% 26.36% 92.84% $516,124 1 - --------------------------------------------------------------------------------
8. Property Type - ------------------------------------------------------------------------------------------------------------------------------------ Aggregate Number Current Percent W.A. W.A. Max W.A. Min. Percent Mortgage Principal Principal Original Combined Original FICO FICO Percent Full Property Type Loans Balance Balance LTV LTV LTV Score Score IO Documentation - ------------------------------------------------------------------------------------------------------------------------------------ SFD 717 $371,957,095 92.84% 70.23% 75.44% 95.00% 747 612 18.67% 52.49% Condo - Low 39 16,513,973 4.12 72.46 77.01 80.00 744 672 29.93 34.98 2-Family 10 6,518,332 1.63 67.02 68.81 80.00 757 690 31.07 54.16 Condo - High 7 4,018,851 1.00 64.82 72.38 80.00 732 700 0.00 67.03 Cooperative 4 1,625,939 0.41 55.29 55.29 78.50 751 623 24.60 24.12 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ (TABLE CONTINUED) - -------------------------------------------------------------------------------- Average Percent Percent Original W.A. Owner Cash-Out Percent Principal Loan Property Type Occupied Refinance SFD Balance Age - -------------------------------------------------------------------------------- SFD 95.38% 26.54% 100.00% $519,285 1 Condo - Low 64.72 21.75 0.00 423,745 1 2-Family 100.00 44.73 0.00 652,320 1 Condo - High 89.87 0.00 0.00 574,903 1 Cooperative 100.00 24.12 0.00 406,891 1 - -------------------------------------------------------------------------------- Total: 94.15% 26.36% 92.84% $516,124 1 - --------------------------------------------------------------------------------
9. Occupancy Status - ------------------------------------------------------------------------------------------------------------------------------------ Aggregate Number Current Percent W.A. W.A. Max W.A. Min. Percent Occupancy Mortgage Principal Principal Original Combined Original FICO FICO Percent Full Status Loans Balance Balance LTV LTV LTV Score Score IO Documentation - ------------------------------------------------------------------------------------------------------------------------------------ Primary 733 $377,207,175 94.15% 70.17% 75.28% 95.00% 747 612 18.94% 51.24% Secondary 44 23,427,014 5.85 69.93 75.39 80.00 749 667 22.92 61.29 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ (TABLE CONTINUED) - -------------------------------------------------------------------------------- Average Percent Percent Original W.A. Occupancy Owner Cash-Out Percent Principal Loan Status Occupied Refinance SFD Balance Age - -------------------------------------------------------------------------------- Primary 100.00% 27.22% 94.05% $515,122 1 Secondary 0.00 12.65 73.39 532,807 1 - -------------------------------------------------------------------------------- Total: 94.15% 26.36% 92.84% $516,124 1 - --------------------------------------------------------------------------------
10. State - ------------------------------------------------------------------------------------------------------------------------------------ Aggregate Number Current Percent W.A. W.A. Max W.A. Min. Percent Mortgage Principal Principal Original Combined Original FICO FICO Percent Full State Loans Balance Balance LTV LTV LTV Score Score IO Documentation - ------------------------------------------------------------------------------------------------------------------------------------ California 256 $143,638,939 35.85% 66.22% 70.39% 93.33% 749 612 22.31% 40.63% New York 63 33,769,595 8.43 70.55 74.87 95.00 757 623 9.34 43.57 Maryland 46 24,437,932 6.10 73.43 79.53 95.00 751 632 34.79 54.78 Virginia 49 23,658,761 5.91 72.17 78.57 80.00 750 671 13.89 50.85 Illinois 28 14,227,909 3.55 69.72 73.84 80.00 726 630 0.00 76.26 Massachusetts 25 13,439,499 3.35 72.43 77.93 80.00 756 624 4.28 60.86 Texas 29 12,883,263 3.22 74.66 82.44 80.00 759 634 18.27 69.36 Minnesota 28 12,657,949 3.16 77.58 82.01 90.00 753 681 33.97 69.49 Florida 29 12,539,363 3.13 72.34 77.29 90.00 732 648 29.69 51.81 New Jersey 22 12,087,933 3.02 66.01 70.16 80.00 757 664 11.18 44.83 Colorado 20 11,766,825 2.94 72.34 77.00 80.00 744 650 18.87 66.26 Washington 26 11,434,943 2.85 70.53 76.36 90.00 761 688 30.26 49.90 Connecticut 14 8,843,873 2.21 65.79 76.66 80.00 716 620 21.96 54.55 North Carolina 17 7,887,898 1.97 76.74 81.94 95.00 767 677 18.32 71.07 Pennsylvania 17 7,769,896 1.94 77.00 83.45 84.14 759 694 11.55 70.50 Arizona 12 4,954,416 1.24 68.98 74.48 95.00 750 637 32.17 24.31 District of Columbia 9 4,778,115 1.19 75.07 77.93 80.00 733 624 20.62 71.63 Oregon 10 4,585,511 1.14 74.63 81.85 80.00 735 667 2.96 46.41 Wisconsin 7 4,280,495 1.07 75.82 86.27 80.00 708 657 3.51 90.01 Georgia 7 3,909,180 0.98 71.43 83.18 80.00 712 620 15.45 82.05 Other 63 27,081,893 6.76 74.14 79.12 95.00 735 644 15.05 63.62 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ - -------------------------------------------------------------------------------- Average Percent Percent Original W.A. Owner Cash-Out Percent Principal Loan State Occupied Refinance SFD Balance Age - -------------------------------------------------------------------------------- California 99.05% 40.59% 91.61% $561,677 1 New York 97.26 17.73 87.90 536,529 1 Maryland 89.46 19.99 95.50 531,611 1 Virginia 97.31 9.12 95.39 483,255 1 Illinois 100.00 20.47 90.64 508,806 1 Massachusetts 87.83 21.36 98.63 538,153 1 Texas 98.80 0.00 100.00 444,981 1 Minnesota 87.65 22.98 100.00 452,371 1 Florida 81.31 32.89 84.44 432,731 1 New Jersey 88.85 19.79 95.93 549,783 1 Colorado 68.96 11.69 83.55 588,761 1 Washington 98.67 21.33 98.65 440,313 1 Connecticut 93.76 20.79 100.00 632,248 1 North Carolina 78.40 11.65 100.00 464,368 1 Pennsylvania 100.00 7.78 98.64 457,419 1 Arizona 87.02 27.24 95.56 413,057 1 District of Columbia 93.78 11.94 68.64 531,141 1 Oregon 86.50 13.50 100.00 459,017 1 Wisconsin 82.55 34.41 100.00 612,714 2 Georgia 100.00 30.37 74.49 559,107 1 Other 90.74 24.79 94.53 430,371 1 - -------------------------------------------------------------------------------- Total: 94.15% 26.36% 92.84% $516,124 1 - --------------------------------------------------------------------------------
11. Original LTV - ------------------------------------------------------------------------------------------------------------------------------------ Aggregate Number Current Percent W.A. W.A. Max W.A. Min. Percent Mortgage Principal Principal Original Combined Original FICO FICO Percent Full Original LTV Loans Balance Balance LTV LTV LTV Score Score IO Documentation - ------------------------------------------------------------------------------------------------------------------------------------ 25.01 - 30.00 3 $1,247,318 0.31% 28.35% 34.00% 28.87% 735 696 12.11% 0.00% 30.01 - 35.00 8 3,410,687 0.85 32.83 44.68 34.36 791 782 18.61 0.00 35.01 - 40.00 11 5,535,479 1.38 38.21 44.77 40.00 742 664 13.00 28.72 40.01 - 45.00 16 7,570,934 1.89 42.14 51.42 45.00 765 718 20.18 14.40 45.01 - 50.00 21 11,844,098 2.96 47.98 52.07 50.00 759 630 38.33 47.99 50.01 - 55.00 39 22,399,119 5.59 52.70 60.29 54.96 759 683 20.59 39.98 55.01 - 60.00 49 29,117,945 7.27 57.98 66.67 60.00 757 664 29.92 53.06 60.01 - 65.00 63 39,254,197 9.80 63.00 65.35 65.00 741 612 18.01 40.82 65.01 - 70.00 86 47,002,259 11.73 68.06 72.55 70.00 743 620 23.86 37.82 70.01 - 75.00 82 45,073,863 11.25 73.57 78.19 75.00 740 624 13.11 61.30 75.01 - 80.00 382 181,976,521 45.42 79.34 84.38 80.00 748 623 16.80 59.56 80.01 - 85.00 2 960,378 0.24 84.30 84.30 84.58 738 722 36.55 100.00 85.01 - 90.00 5 1,937,064 0.48 89.07 89.07 90.00 704 648 26.92 79.32 90.01 - 95.00 10 3,304,328 0.82 94.70 94.70 95.00 694 637 7.91 76.46 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 777 $400,634,189 100.00% 70.16% 75.28% 95.00% 747 612 19.17% 51.82% - ------------------------------------------------------------------------------------------------------------------------------------ (TABLE CONTINUED) - -------------------------------------------------------------------------------- Average Percent Percent Original W.A. Owner Cash-Out Percent Principal Loan Original LTV Occupied Refinance SFD Balance Age - -------------------------------------------------------------------------------- 25.01 - 30.00 100.00% 64.16% 100.00% $416,147 1 30.01 - 35.00 100.00 16.57 88.27 426,730 1 35.01 - 40.00 87.35 26.45 100.00 503,626 1 40.01 - 45.00 93.35 58.47 88.08 473,750 1 45.01 - 50.00 95.90 55.83 87.34 564,869 1 50.01 - 55.00 91.72 44.60 84.57 575,169 1 55.01 - 60.00 89.80 36.05 94.51 594,732 1 60.01 - 65.00 98.92 46.67 97.08 623,885 1 65.01 - 70.00 98.96 33.83 95.20 547,010 1 70.01 - 75.00 84.48 31.02 89.36 550,229 1 75.01 - 80.00 95.05 12.67 93.06 476,798 1 80.01 - 85.00 100.00 0.00 100.00 480,500 1 85.01 - 90.00 100.00 0.00 100.00 387,820 1 90.01 - 95.00 100.00 0.00 100.00 330,706 1 - -------------------------------------------------------------------------------- Total: 94.15% 26.36% 92.84% $516,124 1 - -------------------------------------------------------------------------------- W.A.: 70.16% Lowest: 27.16% Highest: 95.00%
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials, as appropriate (the "material"), is for your private information, and Banc of America Securities LLC (the "Underwriter") is not soliciting any action based upon it. This material is 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. This material is based on information that the Underwriter considers reliable, but the Underwriter does not represent that it is accurate or complete, and it should not be relied upon as such. By accepting this material, the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may pertain to securities that ultimately are not sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected herein. The Underwriter makes no representation regarding the reasonableness of such assumptions, or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material 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 this material may, from time to time, have long or short positions in, and/or buy and sell, the securities mentioned therein or derivatives thereof (including options). This material may be filed with the Securities and Exchange Commission (the "SEC"), and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including all cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supersedes all prior information regarding such assets. Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information contained in any final prospectus for any securities actually sold to you. This material is furnished solely by the Underwriter and not by the issuer of the securities. The issuer of the securities has not prepared, reviewed or participated in the preparation of this material, is not responsible for the accuracy of this material and has not authorized the dissemination of this material. The Underwriter is acting as underwriter and not as an agent for the issuer in connection with the proposed transaction. Banc of America Securities LLC WFMBS 2005-7 Securitization Pool - Total 1. General Pool Characteristics Pool Size: $400,634,189.22 Loan Count: 777 Cut-off Date: 2005-08-01 Avg. Loan Balance: $515,616.72 Avg. Orig. Balance: $516,123.89 W.A. FICO: 747 W.A. Orig. LTV: 70.16% W.A. Cut-Off LTV: 70.09% W.A. Gross Coupon: 5.8148% W.A. Net Coupon: 5.5558% W.A. Orig. Term: 360 months W.A. Rem. Term: 359 months W.A. Age: 1 months % over 80 COLTV: 1.55% % over 100 COLTV: 0.00% % with PMI: 1.55% % over 80 with PMI: 100.00% % Second Lien: 0.00% % with Prepay Penalty: 0.00% % Balloon: 0.00% Max. Zipcode Conc.: 0.75% % Pledged Asset: 0.00% 2. Original Balance - ------------------------------------------ Original Balance Percent - ------------------------------------------ 50,001 - 100,000 0.12% 100,001 - 150,000 0.63 150,001 - 200,000 0.88 200,001 - 250,000 1.12 250,001 - 300,000 1.67 300,001 - 350,000 0.73 350,001 - 400,000 9.08 400,001 - 450,000 13.23 450,001 - 500,000 15.43 500,001 - 550,000 8.80 550,001 - 600,000 9.94 600,001 - 650,000 8.99 650,001 - 700,000 5.58 700,001 - 750,000 3.98 750,001 - 800,000 3.13 800,001 - 850,000 1.05 850,001 - 900,000 1.31 900,001 - 950,000 2.32 950,001 - 1,000,000 8.94 1,000,001 - 1,500,000 2.12 1,500,001 - 2,000,000 0.94 - ------------------------------------------ Total: 100.00% - ------------------------------------------ Average: $516,123.89 Lowest: $76,000.00 Highest: $2,000,000.00 3. Cut-Off Balance - ------------------------------------------ Cut-Off Balance Percent - ------------------------------------------ 50,001 - 100,000 0.12% 100,001 - 150,000 0.63 150,001 - 200,000 0.88 200,001 - 250,000 1.12 250,001 - 300,000 1.67 300,001 - 350,000 0.73 350,001 - 400,000 9.08 400,001 - 450,000 13.23 450,001 - 500,000 15.43 500,001 - 550,000 8.94 550,001 - 600,000 9.81 600,001 - 650,000 8.99 650,001 - 700,000 5.58 700,001 - 750,000 3.98 750,001 - 800,000 3.13 800,001 - 850,000 1.05 850,001 - 900,000 1.31 900,001 - 950,000 2.32 950,001 - 1,000,000 8.94 1,000,001 - 1,500,000 2.12 1,500,001 - 2,000,000 0.94 - ------------------------------------------ Total: 100.00% - ------------------------------------------ Average: $515,616.72 Lowest: $75,922.51 Highest: $2,000,000.00 4. Index - -------------------------------------- Index Percent - -------------------------------------- FIX 100.00% - -------------------------------------- Total: 100.00% - -------------------------------------- 5. Product Type - -------------------------------------- Product Type Percent - -------------------------------------- 30 YR FIXED 80.51% 30 YR FIXED - IO 19.17 25 YR FIXED 0.22 20 YR FIXED 0.10 - -------------------------------------- Total: 100.00% - -------------------------------------- 6. Coupon - -------------------------------------- Coupon Percent - -------------------------------------- 5.375 0.05% 5.500 1.82 5.625 13.30 5.750 38.61 5.875 30.78 6.000 10.67 6.125 2.82 6.250 1.57 6.375 0.28 6.625 0.09 - -------------------------------------- Total: 100.00% - -------------------------------------- W.A.: 5.815 Lowest: 5.375 Highest: 6.625 7. Credit Score - -------------------------------------- Credit Score Percent - -------------------------------------- 800 - 849 6.51% 750 - 799 47.31 700 - 749 30.67 650 - 699 13.03 600 - 649 2.48 - -------------------------------------- Total: 100.00% - -------------------------------------- W.A.: 747 Lowest: 612 Highest: 816 8. Lien Position - -------------------------------------- Lien Position Percent - -------------------------------------- 1 100.00% - -------------------------------------- Total: 100.00% - -------------------------------------- 9. Loan Purpose - -------------------------------------- Loan Purpose Percent - -------------------------------------- Purchase 55.60% C/O Refi 26.36 R/T Refi 18.04 - -------------------------------------- Total: 100.00% - -------------------------------------- 10. Property Type - -------------------------------------- Property Type Percent - -------------------------------------- SFD 92.84% Condo - Low 4.12 2-Family 1.63 Condo - High 1.00 Cooperative 0.41 - -------------------------------------- Total: 100.00% - -------------------------------------- 11. Documentation - -------------------------------------- Documentation Percent - -------------------------------------- Full 51.82% Asset Only 36.04 No Doc 11.44 Income Only 0.70 - -------------------------------------- Total: 100.00% - -------------------------------------- 12. Occupancy Status - -------------------------------------- Occupancy Status Percent - -------------------------------------- Primary 94.15% Secondary 5.85 - -------------------------------------- Total: 100.00% - -------------------------------------- 13. State - -------------------------------------- State Percent - -------------------------------------- California 35.85% New York 8.43 Maryland 6.10 Virginia 5.91 Illinois 3.55 Other 40.16 - -------------------------------------- Total: 100.00% - -------------------------------------- 14. Delinquency* - -------------------------------------- Delinquency* Percent - -------------------------------------- 0-29 days 100.00% - -------------------------------------- Total: 100.00% - -------------------------------------- * MBA method 15. Original Term - -------------------------------------- Original Term Percent - -------------------------------------- 240 0.10% 300 0.22 336 0.11 360 99.57 - -------------------------------------- Total: 100.00% - -------------------------------------- W.A.: 359.7 months Lowest: 240 months Highest: 360 months 16. Cut-Off Remaining Term - ----------------------------------------- Cut-Off Remaining Term Percent - ----------------------------------------- 235 - 240 0.10% 295 - 300 0.22 301 - 342 0.11 349 - 354 0.11 355 - 360 99.47 - ----------------------------------------- Total: 100.00% - ----------------------------------------- W.A.: 358.7 months Lowest: 240 months Highest: 360 months 17. Cutoff Loan Age - ----------------------------------------- Cutoff Loan Age Percent - ----------------------------------------- 0 7.77% 1 - 6 92.12 7 - 12 0.11 - ----------------------------------------- Total: 100.00% - ----------------------------------------- W.A.: 1.0 months Lowest: 0 months Highest: 7 months 18. OLTV - ----------------------------------------- OLTV Percent - ----------------------------------------- 25.01 - 30.00 0.31% 30.01 - 35.00 0.85 35.01 - 40.00 1.38 40.01 - 45.00 1.89 45.01 - 50.00 2.96 50.01 - 55.00 5.59 55.01 - 60.00 7.27 60.01 - 65.00 9.80 65.01 - 70.00 11.73 70.01 - 75.00 11.25 75.01 - 80.00 45.42 80.01 - 85.00 0.24 85.01 - 90.00 0.48 90.01 - 95.00 0.82 Total: 100.00% W.A.: 70.16% Lowest: 27.16% Highest: 95.00% This Structural Term Sheet, Collateral Term Sheet, or Computational Materials, as appropriate (the "material"), is for your private information, and Banc of America Securities LLC (the "Underwriter") is not soliciting any action based upon it. This material is 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. This material is based on information that the Underwriter considers reliable, but the Underwriter does not represent that it is accurate or complete, and it should not be relied upon as such. By accepting this material, the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may pertain to securities that ultimately are not sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected herein. The Underwriter makes no representation regarding the reasonableness of such assumptions, or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material 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 this material may, from time to time, have long or short positions in, and/or buy and sell, the securities mentioned therein or derivatives thereof (including options). This material may be filed with the Securities and Exchange Commission (the "SEC"), and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including all cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supersedes all prior information regarding such assets. Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information contained in any final prospectus for any securities actually sold to you. This material is furnished solely by the Underwriter and not by the issuer of the securities. The issuer of the securities has not prepared, reviewed or participated in the preparation of this material, is not responsible for the accuracy of this material and has not authorized the dissemination of this material. The Underwriter is acting as underwriter and not as an agent for the issuer in connection with the proposed transaction. Banc of America Securities LLC -----END PRIVACY-ENHANCED MESSAGE-----