-----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, LVjMsK/jgEHr6iArlYFWpnwaGXyHlgnlgxkoGEljow1FbWSb4t/X371hdFmEpZ5m NXnQQOZtGlIWA6pulfhgjw== 0001056404-03-000680.txt : 20030409 0001056404-03-000680.hdr.sgml : 20030409 20030409140716 ACCESSION NUMBER: 0001056404-03-000680 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030325 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030409 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WELLS FARGO MORTGAGE BACKED SECURITIES 2003-B TRUST CENTRAL INDEX KEY: 0001220664 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-98129-12 FILM NUMBER: 03643855 BUSINESS ADDRESS: STREET 1: 7485 NEW HORIZON WAY CITY: FREDERICK STATE: MD ZIP: 21703 8-K 1 wfm0300b.txt MARCH 8K 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 (Date of earliest event reported): March 25, 2003 WELLS FARGO ASSET SECURITIES CORPORATION Mortgage Pass Through Certificates, Series 2003-B Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-98129-12 Pending Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On March 25, 2003 a distribution was made to holders of WELLS FARGO ASSET SECURITIES CORPORATION, Mortgage Pass Through Certificates, Series 2003-B Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass Through Certificates, Series 2003-B Trust, relating to the March 25, 2003 distribution. 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 Mortgage Pass Through Certificates, Series 2003-B Trust By: Wells Fargo Bank Minnesota, N.A. as Master Servicer By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 4/2/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass Through Certificates, Series 2003-B Trust, relating to the March 25, 2003 distribution.
Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 2/28/03 Distribution Date: 3/25/03 WFMBS Series: 2003-B Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 94980UAA8 SEQ 4.15000% 180,000,000.00 622,500.00 2,216,154.57 A-2 94980UAB6 SEQ 4.75000% 160,101,000.00 633,733.12 1,971,158.68 A-3 94980UAC4 SEQ 0.83097% 0.00 235,511.63 0.00 A-R 94980UAE0 SEQ 5.26342% 50.00 0.22 50.00 ALR 94980UAD2 SEQ 5.26342% 50.00 0.22 50.00 B-1 94980UAF7 SUB 5.26342% 4,726,000.00 20,729.09 3,951.67 B-2 94980UAG5 SUB 5.26342% 2,276,000.00 9,982.95 1,903.09 B-3 94980UAH3 SUB 5.26342% 1,050,000.00 4,605.49 877.96 B-4 94980UAJ9 SUB 5.26342% 700,000.00 3,070.33 585.31 B-5 94980UAK6 SUB 5.26342% 525,000.00 2,302.75 438.98 B-6 94980UAL4 SUB 5.26342% 701,127.33 3,075.27 586.25 Totals 350,079,227.33 1,535,511.07 4,195,756.51
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 177,783,845.43 2,838,654.57 0.00 A-2 0.00 158,129,841.32 2,604,891.80 0.00 A-3 0.00 0.00 235,511.63 0.00 A-R 0.00 0.00 50.22 0.00 ALR 0.00 0.00 50.22 0.00 B-1 0.00 4,722,048.33 24,680.76 0.00 B-2 0.00 2,274,096.91 11,886.04 0.00 B-3 0.00 1,049,122.04 5,483.45 0.00 B-4 0.00 699,414.69 3,655.64 0.00 B-5 0.00 524,561.02 2,741.73 0.00 B-6 0.00 700,541.08 3,661.52 0.00 Totals 0.00 345,883,470.82 5,731,267.58 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 180,000,000.00 180,000,000.00 150,504.27 2,065,650.30 0.00 0.00 A-2 160,101,000.00 160,101,000.00 133,866.02 1,837,292.66 0.00 0.00 A-3 0.00 0.00 0.00 0.00 0.00 0.00 A-R 50.00 50.00 3.40 46.60 0.00 0.00 ALR 50.00 50.00 3.40 46.60 0.00 0.00 B-1 4,726,000.00 4,726,000.00 3,951.67 0.00 0.00 0.00 B-2 2,276,000.00 2,276,000.00 1,903.09 0.00 0.00 0.00 B-3 1,050,000.00 1,050,000.00 877.96 0.00 0.00 0.00 B-4 700,000.00 700,000.00 585.31 0.00 0.00 0.00 B-5 525,000.00 525,000.00 438.98 0.00 0.00 0.00 B-6 701,127.33 701,127.33 586.25 0.00 0.00 0.00 Totals 350,079,227.33 350,079,227.33 292,720.35 3,903,036.16 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 2,216,154.57 177,783,845.43 0.98768803 2,216,154.57 A-2 1,971,158.68 158,129,841.32 0.98768803 1,971,158.68 A-3 0.00 0.00 0.00000000 0.00 A-R 50.00 0.00 0.00000000 50.00 ALR 50.00 0.00 0.00000000 50.00 B-1 3,951.67 4,722,048.33 0.99916384 3,951.67 B-2 1,903.09 2,274,096.91 0.99916384 1,903.09 B-3 877.96 1,049,122.04 0.99916385 877.96 B-4 585.31 699,414.69 0.99916384 585.31 B-5 438.98 524,561.02 0.99916385 438.98 B-6 586.25 700,541.08 0.99916385 586.25 Totals 4,195,756.51 345,883,470.82 0.98801484 4,195,756.51
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 180,000,000.00 1000.00000000 0.83613483 11.47583500 0.00000000 A-2 160,101,000.00 1000.00000000 0.83613481 11.47583500 0.00000000 A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-R 50.00 1000.00000000 68.00000000 932.00000000 0.00000000 ALR 50.00 1000.00000000 68.00000000 932.00000000 0.00000000 B-1 4,726,000.00 1000.00000000 0.83615531 0.00000000 0.00000000 B-2 2,276,000.00 1000.00000000 0.83615554 0.00000000 0.00000000 B-3 1,050,000.00 1000.00000000 0.83615238 0.00000000 0.00000000 B-4 700,000.00 1000.00000000 0.83615714 0.00000000 0.00000000 B-5 525,000.00 1000.00000000 0.83615238 0.00000000 0.00000000 B-6 701,127.33 1000.00000000 0.83615340 0.00000000 0.00000000 (2) Per $1000 denomination.
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 12.31196983 987.68803017 0.98768803 12.31196983 A-2 0.00000000 12.31196982 987.68803018 0.98768803 12.31196982 A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000 ALR 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000 B-1 0.00000000 0.83615531 999.16384469 0.99916384 0.83615531 B-2 0.00000000 0.83615554 999.16384446 0.99916384 0.83615554 B-3 0.00000000 0.83615238 999.16384762 0.99916385 0.83615238 B-4 0.00000000 0.83615714 999.16384286 0.99916384 0.83615714 B-5 0.00000000 0.83615238 999.16384762 0.99916385 0.83615238 B-6 0.00000000 0.83615340 999.16384660 0.99916385 0.83615340 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 180,000,000.00 4.15000% 180,000,000.00 622,500.00 0.00 0.00 A-2 160,101,000.00 4.75000% 160,101,000.00 633,733.13 0.00 0.00 A-3 0.00 0.83097% 340,101,000.00 235,511.63 0.00 0.00 A-R 50.00 5.26342% 50.00 0.22 0.00 0.00 ALR 50.00 5.26342% 50.00 0.22 0.00 0.00 B-1 4,726,000.00 5.26342% 4,726,000.00 20,729.09 0.00 0.00 B-2 2,276,000.00 5.26342% 2,276,000.00 9,982.95 0.00 0.00 B-3 1,050,000.00 5.26342% 1,050,000.00 4,605.49 0.00 0.00 B-4 700,000.00 5.26342% 700,000.00 3,070.33 0.00 0.00 B-5 525,000.00 5.26342% 525,000.00 2,302.75 0.00 0.00 B-6 701,127.33 5.26342% 701,127.33 3,075.27 0.00 0.00 Totals 350,079,227.33 1,535,511.08 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 622,500.00 0.00 177,783,845.43 A-2 0.00 0.00 633,733.12 0.00 158,129,841.32 A-3 0.00 0.00 235,511.63 0.00 335,913,686.76 A-R 0.00 0.00 0.22 0.00 0.00 ALR 0.00 0.00 0.22 0.00 0.00 B-1 0.00 0.00 20,729.09 0.00 4,722,048.33 B-2 0.00 0.00 9,982.95 0.00 2,274,096.91 B-3 0.00 0.00 4,605.49 0.00 1,049,122.04 B-4 0.00 0.00 3,070.33 0.00 699,414.69 B-5 0.00 0.00 2,302.75 0.00 524,561.02 B-6 0.00 0.00 3,075.27 0.00 700,541.08 Totals 0.00 0.00 1,535,511.07 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 180,000,000.00 4.15000% 1000.00000000 3.45833333 0.00000000 0.00000000 A-2 160,101,000.00 4.75000% 1000.00000000 3.95833336 0.00000000 0.00000000 A-3 0.00 0.83097% 1000.00000000 0.69247556 0.00000000 0.00000000 A-R 50.00 5.26342% 1000.00000000 4.40000000 0.00000000 0.00000000 ALR 50.00 5.26342% 1000.00000000 4.40000000 0.00000000 0.00000000 B-1 4,726,000.00 5.26342% 1000.00000000 4.38618070 0.00000000 0.00000000 B-2 2,276,000.00 5.26342% 1000.00000000 4.38618190 0.00000000 0.00000000 B-3 1,050,000.00 5.26342% 1000.00000000 4.38618095 0.00000000 0.00000000 B-4 700,000.00 5.26342% 1000.00000000 4.38618571 0.00000000 0.00000000 B-5 525,000.00 5.26342% 1000.00000000 4.38619048 0.00000000 0.00000000 B-6 701,127.33 5.26342% 1000.00000000 4.38617904 0.00000000 0.00000000 (5) All classes are per $1000 denomination.
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 3.45833333 0.00000000 987.68803017 A-2 0.00000000 0.00000000 3.95833330 0.00000000 987.68803018 A-3 0.00000000 0.00000000 0.69247556 0.00000000 987.68803020 A-R 0.00000000 0.00000000 4.40000000 0.00000000 0.00000000 ALR 0.00000000 0.00000000 4.40000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 4.38618070 0.00000000 999.16384469 B-2 0.00000000 0.00000000 4.38618190 0.00000000 999.16384446 B-3 0.00000000 0.00000000 4.38618095 0.00000000 999.16384762 B-4 0.00000000 0.00000000 4.38618571 0.00000000 999.16384286 B-5 0.00000000 0.00000000 4.38619048 0.00000000 999.16384762 B-6 0.00000000 0.00000000 4.38617904 0.00000000 999.16384660 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 5,690,831.75 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 147,934.24 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 5,838,765.99 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 107,498.42 Payment of Interest and Principal 5,731,267.57 Total Withdrawals (Pool Distribution Amount) 5,838,765.99 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 4,806.72 Servicing Fee Support 4,806.72 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 109,388.12 Master Servicing Fee 2,917.02 Supported Prepayment/Curtailment Interest Shortfall 4,806.72 Net Servicing Fee 107,498.42
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 1 0 0 0 1 600,000.00 0.00 0.00 0.00 600,000.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1 0 0 0 1 600,000.00 0.00 0.00 0.00 600,000.00 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.136240% 0.000000% 0.000000% 0.000000% 0.136240% 1.218922% 0.000000% 0.000000% 0.000000% 1.218922% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.136240% 0.000000% 0.000000% 0.000000% 0.136240% 1.218922% 0.000000% 0.000000% 0.000000% 1.218922%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 229,022.41
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 9,978,127.33 2.85024833% 9,969,784.07 2.88241125% 97.117589% 100.000000% Class B-1 5,252,127.33 1.50026820% 5,247,735.74 1.51719761% 1.365214% 0.000000% Class B-2 2,976,127.33 0.85012966% 2,973,638.83 0.85972273% 0.657475% 0.000000% Class B-3 1,926,127.33 0.55019755% 1,924,516.79 0.55640612% 0.303317% 0.000000% Class B-4 1,226,127.33 0.35024281% 1,225,102.10 0.35419504% 0.202211% 0.000000% Class B-5 701,127.33 0.20027676% 700,541.08 0.20253673% 0.151658% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.202537% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
COLLATERAL STATEMENT Collateral Description 7/1 CMT ARM Weighted Average Gross Coupon 5.648978% Weighted Average Net Coupon 5.263978% Weighted Average Pass-Through Rate 5.263978% Weighted Average Maturity (Stepdown Calculation ) 356 Beginning Scheduled Collateral Loan Count 741 Number Of Loans Paid In Full 7 Ending Scheduled Collateral Loan Count 734 Beginning Scheduled Collateral Balance 350,079,227.33 Ending Scheduled Collateral Balance 345,883,470.83 Ending Actual Collateral Balance at 28-Feb-2003 49,223,810.05 Monthly P &I Constant 1,943,750.56 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 5,679,158.44 Ending Scheduled Balance for Premium Loans 345,883,470.83 Scheduled Principal 292,720.34 Unscheduled Principal 3,903,036.16 Unpaid Principal Balance Of Outstanding Mortgage Loans With Original LTV: Less Than Or Equal To 80% 341,307,529.55 Greater Than 80%, less than or equal to 85% 1,096,994.34 Greater than 85%, less than or equal to 95% 3,503,922.77 Greater than 95% 0.00
-----END PRIVACY-ENHANCED MESSAGE-----