8-K 1 we751230-8k.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: October 28, 2003 (Date of earliest event reported) Commission File No. 333-98129 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 October 28, 2003, Wells Fargo Asset Securities Corporation, a Delaware corporation (the "Registrant"), sold Mortgage Pass-Through Certificates, Series 2003-L, Class I-A-1, Class I-A-2, Class I-A-3, Class I-A-4, Class I-A-5, Class I-A-R, Class I-A-LR, Class II-A-1, Class B-1, Class B-2 and Class B-3 (the "Offered Certificates"), having an aggregate original principal balance of $491,436,100. The Offered Certificates were issued pursuant to a Pooling and Servicing Agreement, dated as of October 28, 2003, 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 2003-L, Class B-4, Class B-5 and Class B-6 Certificates, having an aggregate initial principal balance of $1,974,891.93 (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 99.60% undivided interest in a trust fund (the "Trust Estate"), consisting principally of two pools of adjustable interest rate, conventional, monthly pay, fully-amortizing, one-to four-family residential first mortgage loans. Some of the Mortgage Loans were originated in connection with the relocation of employees by various corporate employers that participated in the relocation program of Wells Fargo Home Mortgage, Inc. and of the employees of various non-participant employers. 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). The Class I-A-1, Class I-A-2, Class I-A-3, Class I-A-4, Class I-A-5, Class II-A-1, 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 I-A-R and Class I-A-LR Certificates will represent 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 October 28, 2003, 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 October 28, 2003 /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 Agreement, dated E as of October 28, 2003 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: 11/30/03 Distribution Date: 12/26/03 WFMBS Series: 2003-L 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 I-A-1 949769AA1 SEN 4.61326% 79,611,786.12 306,029.44 404,691.17 I-A-2 949769AB8 SEN 4.61326% 179,126,518.77 688,566.23 910,555.13 I-A-3 949769AC7 SEN 4.61326% 103,019,877.02 396,010.65 574,514.76 I-A-4 949769AD5 SEN 4.61326% 10,000,000.00 38,440.22 0.00 I-A-5 949769AE3 SEN 4.61326% 7,493,459.37 28,805.02 38,091.56 I-A-R 949769AF0 SEN 4.61264% 0.00 0.00 0.00 I-A-LR 949769AG8 SEN 4.61264% 0.00 0.00 0.00 II-A-1 949769AH6 SEN 4.61502% 99,778,813.67 383,697.59 526,114.04 B-1 949769AJ2 SUB 4.61363% 6,898,537.93 26,520.22 8,515.58 B-2 949769AK9 SUB 4.61363% 1,971,581.57 7,579.40 2,433.73 B-3 949769AL7 SUB 4.61363% 1,478,186.79 5,682.63 1,824.68 B-4 949769AM5 SUB 4.61363% 739,093.39 2,841.32 912.34 B-5 949769AN3 SUB 4.61363% 493,394.78 1,896.77 609.05 B-6 949769AP8 SUB 4.61363% 739,984.23 2,844.74 913.44 Totals 491,351,233.64 1,888,914.23 2,469,175.48

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 79,207,094.95 710,720.61 0.00 I-A-2 0.00 178,215,963.64 1,599,121.36 0.00 I-A-3 0.00 102,445,362.26 970,525.41 0.00 I-A-4 0.00 10,000,000.00 38,440.22 0.00 I-A-5 0.00 7,455,367.81 66,896.58 0.00 I-A-R 0.00 0.00 0.00 0.00 I-A-LR 0.00 0.00 0.00 0.00 II-A-1 0.00 99,252,699.64 909,811.63 0.00 B-1 0.00 6,890,022.35 35,035.80 0.00 B-2 0.00 1,969,147.84 10,013.13 0.00 B-3 0.00 1,476,362.11 7,507.31 0.00 B-4 0.00 738,181.05 3,753.66 0.00 B-5 0.00 492,785.73 2,505.82 0.00 B-6 0.00 739,070.79 3,758.18 0.00 Totals 0.00 488,882,058.17 4,358,089.71 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) I-A-1 80,000,000.00 79,611,786.12 98,591.96 306,099.21 0.00 0.00 I-A-2 180,000,000.00 179,126,518.77 221,831.91 688,723.22 0.00 0.00 I-A-3 103,571,000.00 103,019,877.02 139,964.84 434,549.91 0.00 0.00 I-A-4 10,000,000.00 10,000,000.00 0.00 0.00 0.00 0.00 I-A-5 7,530,000.00 7,493,459.37 9,279.97 28,811.59 0.00 0.00 I-A-R 50.00 0.00 0.00 0.00 0.00 0.00 I-A-LR 50.00 0.00 0.00 0.00 0.00 0.00 II-A-1 99,974,000.00 99,778,813.67 121,643.44 404,470.60 0.00 0.00 B-1 6,907,000.00 6,898,537.93 8,515.58 0.00 0.00 0.00 B-2 1,974,000.00 1,971,581.57 2,433.73 0.00 0.00 0.00 B-3 1,480,000.00 1,478,186.79 1,824.68 0.00 0.00 0.00 B-4 740,000.00 739,093.39 912.34 0.00 0.00 0.00 B-5 494,000.00 493,394.78 609.05 0.00 0.00 0.00 B-6 740,891.93 739,984.23 913.44 0.00 0.00 0.00 Totals 493,410,991.93 491,351,233.64 606,520.94 1,862,654.53 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 I-A-1 404,691.17 79,207,094.95 0.99008869 404,691.17 I-A-2 910,555.13 178,215,963.64 0.99008869 910,555.13 I-A-3 574,514.76 102,445,362.26 0.98913173 574,514.76 I-A-4 0.00 10,000,000.00 1.00000000 0.00 I-A-5 38,091.56 7,455,367.81 0.99008869 38,091.56 I-A-R 0.00 0.00 0.00000000 0.00 I-A-LR 0.00 0.00 0.00000000 0.00 II-A-1 526,114.04 99,252,699.64 0.99278512 526,114.04 B-1 8,515.58 6,890,022.35 0.99754196 8,515.58 B-2 2,433.73 1,969,147.84 0.99754197 2,433.73 B-3 1,824.68 1,476,362.11 0.99754197 1,824.68 B-4 912.34 738,181.05 0.99754196 912.34 B-5 609.05 492,785.73 0.99754196 609.05 B-6 913.44 739,070.79 0.99754196 913.44 Totals 2,469,175.48 488,882,058.17 0.99082117 2,469,175.48

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 80,000,000.00 995.14732650 1.23239950 3.82624013 0.00000000 I-A-2 180,000,000.00 995.14732650 1.23239950 3.82624011 0.00000000 I-A-3 103,571,000.00 994.67879059 1.35139025 4.19567166 0.00000000 I-A-4 10,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A-5 7,530,000.00 995.14732669 1.23239973 3.82624037 0.00000000 I-A-R 50.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-LR 50.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 99,974,000.00 998.04762908 1.21675076 4.04575790 0.00000000 B-1 6,907,000.00 998.77485594 1.23289127 0.00000000 0.00000000 B-2 1,974,000.00 998.77485816 1.23289260 0.00000000 0.00000000 B-3 1,480,000.00 998.77485811 1.23289189 0.00000000 0.00000000 B-4 740,000.00 998.77485135 1.23289189 0.00000000 0.00000000 B-5 494,000.00 998.77485830 1.23289474 0.00000000 0.00000000 B-6 740,891.93 998.77485506 1.23289236 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 I-A-1 0.00000000 5.05863962 990.08868688 0.99008869 5.05863962 I-A-2 0.00000000 5.05863961 990.08868689 0.99008869 5.05863961 I-A-3 0.00000000 5.54706202 989.13172857 0.98913173 5.54706202 I-A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 I-A-5 0.00000000 5.05864011 990.08868659 0.99008869 5.05864011 I-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 5.26250865 992.78512053 0.99278512 5.26250865 B-1 0.00000000 1.23289127 997.54196467 0.99754196 1.23289127 B-2 0.00000000 1.23289260 997.54196555 0.99754197 1.23289260 B-3 0.00000000 1.23289189 997.54196622 0.99754197 1.23289189 B-4 0.00000000 1.23289189 997.54195946 0.99754196 1.23289189 B-5 0.00000000 1.23289474 997.54196356 0.99754196 1.23289474 B-6 0.00000000 1.23289236 997.54196270 0.99754196 1.23289236 (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 I-A-1 80,000,000.00 4.61326% 79,611,786.12 306,058.40 0.00 0.00 I-A-2 180,000,000.00 4.61326% 179,126,518.77 688,631.39 0.00 0.00 I-A-3 103,571,000.00 4.61326% 103,019,877.02 396,048.12 0.00 0.00 I-A-4 10,000,000.00 4.61326% 10,000,000.00 38,443.85 0.00 0.00 I-A-5 7,530,000.00 4.61326% 7,493,459.37 28,807.75 0.00 0.00 I-A-R 50.00 4.61264% 0.00 0.00 0.00 0.00 I-A-LR 50.00 4.61264% 0.00 0.00 0.00 0.00 II-A-1 99,974,000.00 4.61502% 99,778,813.67 383,733.89 0.00 0.00 B-1 6,907,000.00 4.61363% 6,898,537.93 26,522.73 0.00 0.00 B-2 1,974,000.00 4.61363% 1,971,581.57 7,580.12 0.00 0.00 B-3 1,480,000.00 4.61363% 1,478,186.79 5,683.17 0.00 0.00 B-4 740,000.00 4.61363% 739,093.39 2,841.58 0.00 0.00 B-5 494,000.00 4.61363% 493,394.78 1,896.95 0.00 0.00 B-6 740,891.93 4.61363% 739,984.23 2,845.01 0.00 0.00 Totals 493,410,991.93 1,889,092.96 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 I-A-1 28.96 0.00 306,029.44 0.00 79,207,094.95 I-A-2 65.16 0.00 688,566.23 0.00 178,215,963.64 I-A-3 37.47 0.00 396,010.65 0.00 102,445,362.26 I-A-4 3.64 0.00 38,440.22 0.00 10,000,000.00 I-A-5 2.73 0.00 28,805.02 0.00 7,455,367.81 I-A-R 0.00 0.00 0.00 0.00 0.00 I-A-LR 0.00 0.00 0.00 0.00 0.00 II-A-1 36.31 0.00 383,697.59 0.00 99,252,699.64 B-1 2.51 0.00 26,520.22 0.00 6,890,022.35 B-2 0.72 0.00 7,579.40 0.00 1,969,147.84 B-3 0.54 0.00 5,682.63 0.00 1,476,362.11 B-4 0.27 0.00 2,841.32 0.00 738,181.05 B-5 0.18 0.00 1,896.77 0.00 492,785.73 B-6 0.27 0.00 2,844.74 0.00 739,070.79 Totals 178.76 0.00 1,888,914.23 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 I-A-1 80,000,000.00 4.61326% 995.14732650 3.82573000 0.00000000 0.00000000 I-A-2 180,000,000.00 4.61326% 995.14732650 3.82572994 0.00000000 0.00000000 I-A-3 103,571,000.00 4.61326% 994.67879059 3.82392871 0.00000000 0.00000000 I-A-4 10,000,000.00 4.61326% 1000.00000000 3.84438500 0.00000000 0.00000000 I-A-5 7,530,000.00 4.61326% 995.14732669 3.82573041 0.00000000 0.00000000 I-A-R 50.00 4.61264% 0.00000000 0.00000000 0.00000000 0.00000000 I-A-LR 50.00 4.61264% 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 99,974,000.00 4.61502% 998.04762908 3.83833687 0.00000000 0.00000000 B-1 6,907,000.00 4.61363% 998.77485594 3.83997828 0.00000000 0.00000000 B-2 1,974,000.00 4.61363% 998.77485816 3.83997974 0.00000000 0.00000000 B-3 1,480,000.00 4.61363% 998.77485811 3.83997973 0.00000000 0.00000000 B-4 740,000.00 4.61363% 998.77485135 3.83997297 0.00000000 0.00000000 B-5 494,000.00 4.61363% 998.77485830 3.83997976 0.00000000 0.00000000 B-6 740,891.93 4.61363% 998.77485506 3.83997974 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 I-A-1 0.00036200 0.00000000 3.82536800 0.00000000 990.08868688 I-A-2 0.00036200 0.00000000 3.82536794 0.00000000 990.08868689 I-A-3 0.00036178 0.00000000 3.82356693 0.00000000 989.13172857 I-A-4 0.00036400 0.00000000 3.84402200 0.00000000 1000.00000000 I-A-5 0.00036255 0.00000000 3.82536786 0.00000000 990.08868659 I-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00036319 0.00000000 3.83797377 0.00000000 992.78512053 B-1 0.00036340 0.00000000 3.83961488 0.00000000 997.54196467 B-2 0.00036474 0.00000000 3.83961499 0.00000000 997.54196555 B-3 0.00036486 0.00000000 3.83961486 0.00000000 997.54196622 B-4 0.00036486 0.00000000 3.83962162 0.00000000 997.54195946 B-5 0.00036437 0.00000000 3.83961538 0.00000000 997.54196356 B-6 0.00036443 0.00000000 3.83961531 0.00000000 997.54196270 (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 4,795,695.62 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 4,795,695.62 Withdrawals Reimbursement for Servicer Advances 217,460.15 Payment of Service Fee 157,286.82 Payment of Interest and Principal 4,358,089.68 Total Withdrawals (Pool Distribution Amount) 4,732,836.65 Ending Balance 62,858.97

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 516.43 Servicing Fee Support 337.67 Non-Supported Prepayment/Curtailment Interest Shortfall 178.76

SERVICING FEES Gross Servicing Fee 153,530.35 Master Servicing Fee 4,094.14 Supported Prepayment/Curtailment Interest Shortfall 337.67 Net Servicing Fee 157,286.82

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 1 328,071.07 0.00 0.00 0.00 328,071.07 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 1 328,071.07 0.00 0.00 0.00 328,071.07 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 0.087108% 0.000000% 0.000000% 0.000000% 0.087108% 0.066997% 0.000000% 0.000000% 0.000000% 0.066997% 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 0.087108% 0.000000% 0.000000% 0.000000% 0.087108% 0.066997% 0.000000% 0.000000% 0.000000% 0.066997%

DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1 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 1 328,071.07 0.00 0.00 0.00 328,071.07 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 1 328,071.07 0.00 0.00 0.00 328,071.07 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.110011% 0.000000% 0.000000% 0.000000% 0.110011% 0.084760% 0.000000% 0.000000% 0.000000% 0.084760% 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 0.110011% 0.000000% 0.000000% 0.000000% 0.110011% 0.084760% 0.000000% 0.000000% 0.000000% 0.084760% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2 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 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0.000000% 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 52,350.29

COLLATERAL STATEMENT Collateral Description 10/1 CMT ARM Weighted Average Gross Coupon 4.998699% Weighted Average Net Coupon 4.613699% Weighted Average Pass-Through Rate 4.613699% Weighted Average Maturity(Stepdown Calculation ) 356 Beginning Scheduled Collateral Loan Count 1,151 Number Of Loans Paid In Full 3 Ending Scheduled Collateral Loan Count 1,148 Beginning Scheduled Collateral Balance 491,351,233.64 Ending Scheduled Collateral Balance 488,882,058.18 Ending Actual Collateral Balance at 30-Nov-2003 489,677,623.23 Monthly P &I Constant 2,654,547.51 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 488,882,058.18 Scheduled Principal 606,520.93 Unscheduled Principal 1,862,654.53 Unpaid Principal Balance Of Outstanding Mortgage Loans With Or Less Than Or Equal To 80% 484,683,622.40 Greater Than 80%, less than or equal to 85% 1,713,215.73 Greater than 85%, less than or equal to 95% 2,470,014.09 Greater than 95% 0.00

Group Level Collateral Statement Group 1 2 Total Collateral Description 10/1 CMT ARM 10/1 CMT ARM 10/1 CMT ARM Weighted Average Coupon Rate 4.998351 5.000021 4.998699 Weighted Average Net Rate 4.613351 4.615021 4.613699 Weighted Average Maturity 356 357 356 Beginning Loan Count 911 240 1,151 Loans Paid In Full 2 1 3 Ending Loan Count 909 239 1,148 Beginning Scheduled Balance 389,012,256.71 102,338,976.93 491,351,233.64 Ending scheduled Balance 387,072,316.46 101,809,741.72 488,882,058.18 Record Date 11/30/2003 11/30/2003 11/30/2003 Principal And Interest Constant 2,102,991.71 551,555.80 2,654,547.51 Scheduled Principal 481,756.32 124,764.61 606,520.93 Unscheduled Principal 1,458,183.93 404,470.60 1,862,654.53 Scheduled Interest 1,620,134.13 426,404.58 2,046,538.71 Servicing Fees 121,550.14 31,980.21 153,530.35 Master Servicing Fees 3,241.34 852.81 4,094.14 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,495,342.65 393,571.57 1,888,914.22 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00

Filing Compare · WELLS FARGO ASSET SEC CORP MORT PASS THR CERTS SER 2003-L