-----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, RDimdzzLoXXAvvRfiPDdq7qLKF8fEgE3XixEXNkAGoJG+Kj9k2CWe+79Bszu/ufk PpB5zaWwSzBj+kLeijYfJA== 0000914121-05-001671.txt : 20050902 0000914121-05-001671.hdr.sgml : 20050902 20050901173325 ACCESSION NUMBER: 0000914121-05-001671 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050901 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050902 DATE AS OF CHANGE: 20050901 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: 051065582 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 we854880-8k.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: September 1, 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 Wells Fargo Asset Securities Corporation 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 Wells Fargo Asset Securities Corporation in connection with Wells Fargo Asset Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-10 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 September 1, 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 E prepared by Wells Fargo Asset Securities Corporation in connection with Wells Fargo Asset Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-10 EX-99 2 we854880-ex99.txt COLLATERAL TERM SHEETS
- ------------------------------------------------------------------------------------------------------------------------------------ WFMBS MORTGAGE LOAN POOL 30 -YEAR FIXED RATE RELOCATION MORTGAGES WFMBS SERIES 2005-10 POOL PROFILE (8/30/2005) - ------------------------------------------------------------------------------------------------------------------------------------ -------------------------------- -------------------------------- RELO POOL Tolerance -------------------------------- -------------------------------- AGGREGATE PRINCIPAL BALANCE $275,000,000 (+/- 5.00%) MORTGAGE LOAN CUTOFF DATE 1-Sep-05 N/A INTEREST RATE RANGE 4.750-6.500 N/A GROSS WAC 5.623% (+ / - 5 bps) WEIGHTED AVERAGE SERVICE FEE 0.250% MASTER SERVICING FEE 1.0 bps on Securitization only WAM (in months) 358 (+/- 2 months) WALTV 75% (maximum +5%) CALIFORNIA PERCENT 16% (maximum +5%) SINGLE LARGEST ZIP CODE PERCENT 1% (maximum +2%) AVERAGE LOAN BALANCE $515,033 (maximum +$25,000) LARGEST INDIVIDUAL LOAN BALANCE $1,492,458 (maximum $2,000,000) CASH OUT REFINANCE PERCENT 0% (maximum +5%) Estimated Dispersion: PRIMARY RESIDENCE PERCENT 100% (minimum -5%) 5.625% 614 Pledged Asset % 0.0% (maximum 1%) 4.875% 513 5.000% 379 SINGLE FAMILY DETACHED PERCENT 97% (minimum -5%) 5.125% 1,117 5.250% 7,984 FULL DOCUMENTATION PERCENT 31% (minimum -5%) 5.375% 31,163 5.500% 58,048 Co-Op % 0.0% (maximum 1%) 5.625% 79,597 5.750% 60,769 WA FICO 755 (minimum -5) 5.875% 23,528 6.000% 7,997 UNINSURED > 80% LTV PERCENT 5% (maximum 10%) 6.125% 1,625 6.250% 365 INTEREST ONLY % 7% (maximum 10%) 6.375% 433 6.500% 868 RELOCATION % 100% 275,000 FOR ADDITIONAL LOAN LEVEL DETAIL ABOUT THIS MORTGAGE LOAN POOL, INVESTORS SHOULD VIEW THE INFORMATION TO BE FILED WITH THE SEC AT SEC.GOV IN THE SEARCH FOR COMPANY FILINGS LINK UNDER FILINGS & FORMS (EDGAR) THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT. SUCH INFORMATION SUPERSEDES THE INFORMATION IN ALL PRIOR COLLATERAL TERM SHEETS. - ------------------------------------------------------------------------------------------------------------------------------------ Note: All dollar amounts are approximate and all percentages are expressed as approximate percentages of the Aggregate Principal Balance. - ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------ WFMBS MORTGAGE LOAN POOL 30 -YEAR FIXED RATE RELOCATION MORTGAGES WFMBS SERIES 2005-10 PRICING INFORMATION POOL PROFILE (8/30/2005) - ------------------------------------------------------------------------------------------------------------------------------------ RATING AGENCIES TBD by Wells Fargo PASS THRU RATE 5.00% 5.25% 5.50% ASSUMED SIZE OF PRINCIPAL ONLY CLASS 0.04% 0.58% 2.95% AAA STRUCTURE DUE DATE 9-Sep-05 Structure received or changes to structures past the due date will incur a $10,000 fee. Structure delivered to WF by Sept. 15- Delivery of prospectus day before settlement Structure delivered to WF by Sept. 20 -Delivery of prospectus day of settlement Structure delivered to WF Sept. 21 or later- Possible change of settlement date SETTLEMENT DATE 28-Sep-05 ASSUMED SUB LEVELS AGG Assumed Level Levels and Rating Agencies for AAA 2.75% 2005-10 to be determined by AA TBD Wells Fargo. A TBD BBB TBD BB TBD B TBD NOTE: Please note the following specifics of the 2005-10 Structure: Class A Optimal Amt: Class A PP% of Net Liquidation Proceeds for a Liquidated Loan Class A PP% Shift Test Failure - Look back to last determination date for calc'd Class A PP% No Floating Rate Interest-Only Strips will be described as Fixed Rate (Normalized I/Os) * This Security may contain Pledged Asset Loans and Buydown Loans. - ------------------------------------------------------------------ WFMBS may structure the excess interest as an interest only certificate, or as fixed retained yield or servicing fee which will be excluded from the trust for Series 2005-10. The principal only certificate created by the discount mortgage loans will be included in the bid on the pricing date. WFMBS CONTACTS Brad Davis (301) 846-8009 Gretchen Leff (301) 846-8356 Mike Miller (301) 815-6397
WFASC Denomination Policy - ------------------------------------------------------------------------------------------------------------------------------------ Minimum Denomination Physical Book Entry Type and Description of Certificates (1) (4) Certificates Certificates - ------------------------------------------------------------------------------------------------------------------------------------ Class A PAC, TAC, Scheduled, Accrual, Sequential, Floaters, NAS, Non-complex components (subject to reasonable prepayment support) $25,000 Allowed Allowed Companion classes for PAC, TAC, Scheduled Classes $100,000 Allowed Allowed Inverse Floater (Including Leveraged), PO, Subclasses of the $100,000 Allowed Allowed Class A that provide credit protection to the Class A, Complex multi-component certificates Notional and Nominal Face IO (2) Allowed Allowed Residual Certificates (3) Required Not Allowed All other types of Class A Certificates (5) (5) (5) Class B (Investment Grade) $100,000 Allowed Allowed Class B (Non-Investment Grade) $250,000 Required Not Allowed
(1) WFASC reserves the right to cause certain certificates to be issued in denominations greater than outlined above or in a definitive form to mitigate the risk of a security with complicated cash-flow characteristics being made available to an unsophisticated investor. (2) IO Certificates will be issued in minimum denominations that ensure a minimum purchase price of $100,000. (3) 100% percentage interest for non-economic residuals. (4) Retail Classes will be analyzed and approved on a case-by-case basis by WFASC. (WFASC does not issue Companion Classes for PAC/TAC/Scheduled Classes in $1000 denominations.) (5) Underwriter must obtain WFASC's approval. -----END PRIVACY-ENHANCED MESSAGE-----