8-K 1 we672583-8k.txt 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: June 28, 2002 (Date of earliest event reported) Commission File No. 333-74308 Wells Fargo Asset Securities Corporation ------------------------------------------------------------------------------ Delaware 52-1972128 (State of Incorporation) I.R.S. Employer Identification No. ------------------------------ --------------------------------------- 7485 New Horizon Way, Frederick, Maryland 21703 --------------------------------------------------- -------------- Address of principal executive offices (Zip Code) (301) 846-8881 ------------------------------------------------------------------------------ Registrant's Telephone Number, including area code ------------------------------------------------------------------------------ (Former name, former address and former fiscal year, if changed since last report) ITEM 5. Other Events On June 28, 2002, Wells Fargo Asset Securities Corporation, a Delaware corporation (the "Registrant"), sold Mortgage Pass-Through Certificates, Series 2002-12, Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-PO, Class A-R, Class A-LR, Class B-1, Class B-2 and Class B-3 (the "Offered Certificates"), having an aggregate original principal balance of $348,557,303.00. The Offered Certificates were issued pursuant to a Pooling and Servicing Agreement, dated as of June 28, 2002, among the Registrant, Wells Fargo Bank Minnesota, National Association, as master servicer (the "Master Servicer" or "Wells Fargo Bank") and Wachovia Bank, National Association, as trustee (the "Agreement"), a copy of which is filed as an exhibit hereto. Mortgage Pass-Through Certificates, Series 2002-12, Class B-4, Class B-5 and Class B-6 Certificates, having an aggregate initial principal balance of $1,752,271.72 (the "Private Class B Certificates" and, together with the Offered Certificates, the "Certificates"), were also issued pursuant to the Agreement. As of the date of initial issuance, the Offered Certificates evidenced an approximate 99.50% undivided interest in a trust fund (the "Trust Estate"), consisting principally of a pool of fixed interest rate, conventional, monthly pay, fully-amortizing, one-to four-family residential first mortgage loans, other than the Fixed Retained Yield (as defined in the Agreement), which may include loans secured by shares issued by cooperative housing corporations. The remaining undivided interests in the Trust Estate are evidenced by the Private Class B Certificates. Distributions on the Private Class B Certificates are subordinated to distributions on the Offered Certificates. Interest on the Offered Certificates will be distributed on each Distribution Date (as defined in the Agreement). Monthly distributions in reduction of the principal balance of the Offered Certificates will be allocated to the Offered Certificates in accordance with the priorities set forth in the Agreement. Distributions of interest and in reduction of principal balance on any Distribution Date will be made to the extent that the Pool Distribution Amount is sufficient therefor. Elections will be made to treat the Trust Estate as two REMICs for federal income tax purposes (the "Upper-Tier REMIC" and "Lower-Tier REMIC," respectively). Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-PO, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates will be treated as "regular interests" in the Upper-Tier REMIC and the Class A-R and Class A-LR Certificates will be treated as the "residual interests" in the Upper-Tier REMIC and Lower-Tier REMIC, respectively. ITEM 7. Financial Statements and Exhibits (c) Exhibits Item 601(a) of Regulation S-K Exhibit No. Description ------------------ ----------- (EX-4) Pooling and Servicing Agreement, dated as of June 28, 2002, among Wells Fargo Asset Securities Corporation, Wells Fargo Bank Minnesota, National Association and Wachovia Bank, National Association, as trustee. 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 June 28, 2002 /s/ Alan S. McKenney -------------------------------------- Alan S. McKenney Vice President INDEX TO EXHIBITS Paper (P) or Exhibit No. Description Electronic (E) ----------- ----------- -------------- (EX-4) Pooling and Servicing E Agreement, dated as of June 28, 2002 among Wells Fargo Asset Securities Corporation, Wells Fargo Bank Minnesota, National Association and Wachovia Bank, National Association, as trustee.

Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 11/30/02 Distribution Date: 12/26/02 WFMBS Series: 2002-12 Contact: Customer Service - SecuritiesLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 846-8130 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-PO 94978WAK6 PO 0.00000% 761,777.34 0.00 25,698.68 A-1 94978WAA8 SEQ 5.25000% 93,115,713.35 407,067.37 630,052.71 A-2 94978WAB6 SEQ 1.78000% 58,197,319.99 86,259.51 393,782.93 A-3 94978WAC4 SEQ 6.72000% 0.00 325,653.89 0.00 A-4 94978WAD2 SEQ 6.50000% 28,155,696.52 152,392.52 22,996,755.50 A-5 94978WAE0 SEQ 6.50000% 0.00 0.00 0.00 A-6 94978WAF7 SEQ 6.50000% 27,222,385.18 147,340.98 (147,340.98) A-7 94978WAG5 SEQ 6.50000% 0.00 0.00 0.00 A-8 94978WAH3 SEQ 6.50000% 15,000,000.00 81,187.40 0.00 A-9 94978WAJ9 SEQ 6.50000% 35,300,000.00 191,061.01 0.00 A-R 94978WAL4 RES 6.50000% 0.00 0.00 0.00 A-LR 94978WAM2 RES 6.50000% 0.00 0.00 0.00 B-1 94978WAN0 SUB 6.50000% 4,883,213.02 26,430.36 4,117.35 B-2 94978WAP5 SUB 6.50000% 1,918,831.87 10,385.66 1,617.89 B-3 94978WAQ3 SUB 6.50000% 1,395,061.47 7,550.76 1,176.27 B-4 94978WAR1 SUB 6.50000% 523,770.40 2,834.90 441.62 B-5 94978WAS9 SUB 6.50000% 697,032.85 3,772.69 587.71 B-6 94978WAT7 SUB 6.50000% 524,040.97 2,836.37 441.85 Totals 267,694,842.96 1,444,773.42 23,907,331.53

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-PO 0.00 736,078.66 25,698.68 0.00 A-1 0.00 92,485,660.64 1,037,120.08 0.00 A-2 0.00 57,803,537.06 480,042.44 0.00 A-3 0.00 0.00 325,653.89 0.00 A-4 0.00 5,158,941.02 23,149,148.02 0.00 A-5 0.00 0.00 0.00 0.00 A-6 0.00 27,369,726.16 0.00 0.00 A-7 0.00 0.00 0.00 0.00 A-8 0.00 15,000,000.00 81,187.40 0.00 A-9 0.00 35,300,000.00 191,061.01 0.00 A-R 0.00 0.00 0.00 0.00 A-LR 0.00 0.00 0.00 0.00 B-1 0.00 4,879,095.67 30,547.71 0.00 B-2 0.00 1,917,213.98 12,003.55 0.00 B-3 0.00 1,393,885.20 8,727.03 0.00 B-4 0.00 523,328.78 3,276.52 0.00 B-5 0.00 696,445.14 4,360.40 0.00 B-6 0.00 523,599.12 3,278.22 0.00 Totals 0.00 243,787,511.43 25,352,104.95 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-PO 821,203.02 761,777.34 685.39 25,013.29 0.00 0.00 A-1 95,589,539.00 93,115,713.35 5,718.67 624,334.04 0.00 0.00 A-2 59,743,461.00 58,197,319.99 3,574.17 390,208.76 0.00 0.00 A-3 0.00 0.00 0.00 0.00 0.00 0.00 A-4 77,000,000.00 28,155,696.52 208,730.06 22,788,025.44 0.00 0.00 A-5 25,174,000.00 0.00 0.00 0.00 0.00 0.00 A-6 26,497,000.00 27,222,385.18 0.00 0.00 (147,340.98) 0.00 A-7 5,200,000.00 0.00 0.00 0.00 0.00 0.00 A-8 15,000,000.00 15,000,000.00 0.00 0.00 0.00 0.00 A-9 35,300,000.00 35,300,000.00 0.00 0.00 0.00 0.00 A-R 50.00 0.00 0.00 0.00 0.00 0.00 A-LR 50.00 0.00 0.00 0.00 0.00 0.00 B-1 4,904,000.00 4,883,213.02 4,117.35 0.00 0.00 0.00 B-2 1,927,000.00 1,918,831.87 1,617.89 0.00 0.00 0.00 B-3 1,401,000.00 1,395,061.47 1,176.27 0.00 0.00 0.00 B-4 526,000.00 523,770.40 441.62 0.00 0.00 0.00 B-5 700,000.00 697,032.85 587.71 0.00 0.00 0.00 B-6 526,271.72 524,040.97 441.85 0.00 0.00 0.00 Totals 350,309,574.74 267,694,842.96 227,090.98 23,827,581.53 (147,340.98) 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-PO 25,698.68 736,078.66 0.89634188 25,698.68 A-1 630,052.71 92,485,660.64 0.96752910 630,052.71 A-2 393,782.93 57,803,537.06 0.96752910 393,782.93 A-3 0.00 0.00 0.00000000 0.00 A-4 22,996,755.50 5,158,941.02 0.06699923 22,996,755.50 A-5 0.00 0.00 0.00000000 0.00 A-6 (147,340.98) 27,369,726.16 1.03293679 (147,340.98) A-7 0.00 0.00 0.00000000 0.00 A-8 0.00 15,000,000.00 1.00000000 0.00 A-9 0.00 35,300,000.00 1.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 A-LR 0.00 0.00 0.00000000 0.00 B-1 4,117.35 4,879,095.67 0.99492163 4,117.35 B-2 1,617.89 1,917,213.98 0.99492163 1,617.89 B-3 1,176.27 1,393,885.20 0.99492163 1,176.27 B-4 441.62 523,328.78 0.99492163 441.62 B-5 587.71 696,445.14 0.99492163 587.71 B-6 441.85 523,599.12 0.99492163 441.85 Totals 23,907,331.53 243,787,511.43 0.69592021 23,907,331.53

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-PO 821,203.02 927.63582384 0.83461700 30.45932539 0.00000000 A-1 95,589,539.00 974.12033078 0.05982527 6.53140549 0.00000000 A-2 59,743,461.00 974.12033076 0.05982529 6.53140534 0.00000000 A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-4 77,000,000.00 365.65839636 2.71078000 295.94838234 0.00000000 A-5 25,174,000.00 0.00000000 0.00000000 0.00000000 0.00000000 A-6 26,497,000.00 1027.37612484 0.00000000 0.00000000 (5.56066649) A-7 5,200,000.00 0.00000000 0.00000000 0.00000000 0.00000000 A-8 15,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-9 35,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-R 50.00 0.00000000 0.00000000 0.00000000 0.00000000 A-LR 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,904,000.00 995.76121941 0.83959013 0.00000000 0.00000000 B-2 1,927,000.00 995.76121951 0.83959004 0.00000000 0.00000000 B-3 1,401,000.00 995.76122056 0.83959315 0.00000000 0.00000000 B-4 526,000.00 995.76121673 0.83958175 0.00000000 0.00000000 B-5 700,000.00 995.76121429 0.83958571 0.00000000 0.00000000 B-6 526,271.72 995.76122008 0.83958530 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-PO 0.00000000 31.29394239 896.34188145 0.89634188 31.29394239 A-1 0.00000000 6.59123076 967.52910002 0.96752910 6.59123076 A-2 0.00000000 6.59123063 967.52910013 0.96752910 6.59123063 A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-4 0.00000000 298.65916234 66.99923403 0.06699923 298.65916234 A-5 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-6 0.00000000 (5.56066649) 1,032.93679133 1.03293679 (5.56066649) A-7 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.83959013 994.92162928 0.99492163 0.83959013 B-2 0.00000000 0.83959004 994.92162948 0.99492163 0.83959004 B-3 0.00000000 0.83959315 994.92162741 0.99492163 0.83959315 B-4 0.00000000 0.83958175 994.92163498 0.99492163 0.83958175 B-5 0.00000000 0.83958571 994.92162857 0.99492163 0.83958571 B-6 0.00000000 0.83958530 994.92163478 0.99492163 0.83958530 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, 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-PO 821,203.02 0.00000% 761,777.34 0.00 0.00 0.00 A-1 95,589,539.00 5.25000% 93,115,713.35 407,381.25 0.00 0.00 A-2 59,743,461.00 1.78000% 58,197,319.99 86,326.02 0.00 0.00 A-3 0.00 6.72000% 58,197,319.99 325,904.99 0.00 0.00 A-4 77,000,000.00 6.50000% 28,155,696.52 152,510.02 0.00 0.00 A-5 25,174,000.00 6.50000% 0.00 0.00 0.00 0.00 A-6 26,497,000.00 6.50000% 27,222,385.18 147,454.59 0.00 0.00 A-7 5,200,000.00 6.50000% 0.00 0.00 0.00 0.00 A-8 15,000,000.00 6.50000% 15,000,000.00 81,250.00 0.00 0.00 A-9 35,300,000.00 6.50000% 35,300,000.00 191,208.33 0.00 0.00 A-R 50.00 6.50000% 0.00 0.00 0.00 0.00 A-LR 50.00 6.50000% 0.00 0.00 0.00 0.00 B-1 4,904,000.00 6.50000% 4,883,213.02 26,450.74 0.00 0.00 B-2 1,927,000.00 6.50000% 1,918,831.87 10,393.67 0.00 0.00 B-3 1,401,000.00 6.50000% 1,395,061.47 7,556.58 0.00 0.00 B-4 526,000.00 6.50000% 523,770.40 2,837.09 0.00 0.00 B-5 700,000.00 6.50000% 697,032.85 3,775.59 0.00 0.00 B-6 526,271.72 6.50000% 524,040.97 2,838.56 0.00 0.00 Totals 350,309,574.74 1,445,887.43 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-PO 0.00 0.00 0.00 0.00 736,078.66 A-1 313.87 0.00 407,067.37 0.00 92,485,660.64 A-2 66.51 0.00 86,259.51 0.00 57,803,537.06 A-3 251.10 0.00 325,653.89 0.00 57,803,537.06 A-4 117.50 0.00 152,392.52 0.00 5,158,941.02 A-5 0.00 0.00 0.00 0.00 0.00 A-6 113.61 0.00 147,340.98 0.00 27,369,726.16 A-7 0.00 0.00 0.00 0.00 0.00 A-8 62.60 0.00 81,187.40 0.00 15,000,000.00 A-9 147.32 0.00 191,061.01 0.00 35,300,000.00 A-R 0.00 0.00 0.00 0.00 0.00 A-LR 0.00 0.00 0.00 0.00 0.00 B-1 20.38 0.00 26,430.36 0.00 4,879,095.67 B-2 8.01 0.00 10,385.66 0.00 1,917,213.98 B-3 5.82 0.00 7,550.76 0.00 1,393,885.20 B-4 2.19 0.00 2,834.90 0.00 523,328.78 B-5 2.91 0.00 3,772.69 0.00 696,445.14 B-6 2.19 0.00 2,836.37 0.00 523,599.12 Totals 1,114.01 0.00 1,444,773.42 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, 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-PO 821,203.02 0.00000% 927.63582384 0.00000000 0.00000000 0.00000000 A-1 95,589,539.00 5.25000% 974.12033078 4.26177649 0.00000000 0.00000000 A-2 59,743,461.00 1.78000% 974.12033076 1.44494508 0.00000000 0.00000000 A-3 0.00 6.72000% 974.12033076 5.45507382 0.00000000 0.00000000 A-4 77,000,000.00 6.50000% 365.65839636 1.98064961 0.00000000 0.00000000 A-5 25,174,000.00 6.50000% 0.00000000 0.00000000 0.00000000 0.00000000 A-6 26,497,000.00 6.50000% 1027.37612484 5.56495415 0.00000000 0.00000000 A-7 5,200,000.00 6.50000% 0.00000000 0.00000000 0.00000000 0.00000000 A-8 15,000,000.00 6.50000% 1000.00000000 5.41666667 0.00000000 0.00000000 A-9 35,300,000.00 6.50000% 1000.00000000 5.41666657 0.00000000 0.00000000 A-R 50.00 6.50000% 0.00000000 0.00000000 0.00000000 0.00000000 A-LR 50.00 6.50000% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,904,000.00 6.50000% 995.76121941 5.39370718 0.00000000 0.00000000 B-2 1,927,000.00 6.50000% 995.76121951 5.39370524 0.00000000 0.00000000 B-3 1,401,000.00 6.50000% 995.76122056 5.39370450 0.00000000 0.00000000 B-4 526,000.00 6.50000% 995.76121673 5.39370722 0.00000000 0.00000000 B-5 700,000.00 6.50000% 995.76121429 5.39370000 0.00000000 0.00000000 B-6 526,271.72 6.50000% 995.76122008 5.39371563 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-PO 0.00000000 0.00000000 0.00000000 0.00000000 896.34188145 A-1 0.00328352 0.00000000 4.25849287 0.00000000 967.52910002 A-2 0.00111326 0.00000000 1.44383182 0.00000000 967.52910013 A-3 0.00420297 0.00000000 5.45087085 0.00000000 967.52910013 A-4 0.00152597 0.00000000 1.97912364 0.00000000 66.99923403 A-5 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-6 0.00428766 0.00000000 5.56066649 0.00000000 1032.93679133 A-7 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-8 0.00417333 0.00000000 5.41249333 0.00000000 1000.00000000 A-9 0.00417337 0.00000000 5.41249320 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00415579 0.00000000 5.38955139 0.00000000 994.92162928 B-2 0.00415672 0.00000000 5.38954852 0.00000000 994.92162948 B-3 0.00415418 0.00000000 5.38955032 0.00000000 994.92162741 B-4 0.00416350 0.00000000 5.38954373 0.00000000 994.92163498 B-5 0.00415714 0.00000000 5.38955714 0.00000000 994.92162857 B-6 0.00416135 0.00000000 5.38955428 0.00000000 994.92163478 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,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 25,554,969.72 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 31,950.49 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 25,586,920.21 Withdrawals Reimbursement for Servicer Advances 192,583.22 Payment of Service Fee 42,232.03 Payment of Interest and Principal 25,352,104.97 Total Withdrawals (Pool Distribution Amount) 25,586,920.22 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 18,399.25 Servicing Fee Support 17,285.24 Non-Supported Prepayment/Curtailment Interest Shortfall 1,114.01

SERVICING FEES Gross Servicing Fee 55,727.78 Master Servicing Fee 3,789.49 Supported Prepayment/Curtailment Interest Shortfall 17,285.24 Net Servicing Fee 42,232.03

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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 1 0 0 0 1 437,957.05 0.00 0.00 0.00 437,957.05 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 1 437,957.05 0.00 0.00 0.00 437,957.05 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.188324% 0.000000% 0.000000% 0.000000% 0.188324% 0.171241% 0.000000% 0.000000% 0.000000% 0.171241% 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 0.188324% 0.000000% 0.000000% 0.000000% 0.188324% 0.171241% 0.000000% 0.000000% 0.000000% 0.171241%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 151,599.04

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 9,984,271.72 2.85012813% 9,933,567.89 4.07468284% 95.912977% 100.000000% Class B-1 5,080,271.72 1.45022348% 5,054,472.22 2.07331056% 2.007433% 0.000000% Class B-2 3,153,271.72 0.90013861% 3,137,258.24 1.28688226% 0.788810% 0.000000% Class B-3 1,752,271.72 0.50020663% 1,743,373.04 0.71511991% 0.573494% 0.000000% Class B-4 1,226,271.72 0.35005373% 1,220,044.26 0.50045396% 0.215316% 0.000000% Class B-5 526,271.72 0.15023047% 523,599.12 0.21477684% 0.286542% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.215427% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 6.987875% Weighted Average Pass-Through Rate 6.500000% Weighted Average Maturity (Stepdown Calculation) 348 Beginning Scheduled Collateral Loan Count 579 Number Of Loans Paid In Full 48 Ending Scheduled Collateral Loan Count 531 Beginning Scheduled Collateral Balance 267,694,842.96 Ending Scheduled Collateral Balance 243,787,511.42 Ending Actual Collateral Balance at 30-Nov-2002 255,754,846.95 Ending Scheduled Balance For Wells Fargo Serviced 242,287,622.02 Ending Scheduled Balance For Other Servicers 1,499,889.40 Monthly P &I Constant 1,750,052.34 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 25,265,285.36 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans 186,925,145.29 Ending Scheduled Balance For Discount Loans 56,862,366.13 Scheduled Principal 225,753.64 Unscheduled Principal 23,681,577.90 Unpaid Principal Balance Of Outstanding Mortgage Loans With Original LTV: Less Than Or Equal To 80% 234,713,722.35 Greater Than 80%, less than or equal to 85% 1,497,758.93 Greater than 85%, less than or equal to 95% 7,591,340.09 Greater than 95% 0.00

Filing Compare · WELLS FARGO ASSET SEC CORP MORT PASS THR CERT SER 2002-12