8-K 1 ba765468-8k.txt CURRENT REPORT 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: February 26, 2004 (Date of earliest event reported) Commission File No. 333-105940 Banc of America Mortgage Securities, Inc. -------------------------------------------------------------------------------- Delaware 36-4514369 -------------------------------------------------------------------------------- (State of Incorporation) (I.R.S. Employer Identification No.) 201 North Tryon Street, Charlotte, North Carolina 28255 -------------------------------------------------------------------------------- Address of principal executive offices (Zip Code) (704) 387-8239 -------------------------------------------------------------------------------- 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 February 26, 2004, Banc of America Mortgage Securities, Inc., a Delaware corporation (the "Registrant"), sold Mortgage Pass-Through Certificates, Series 2004-B, Class 1-A-1, Class 1-A-R, Class 1-A-LR, Class 2-A-1, Class 2-A-2, Class B-1, Class B-2 and Class B-3 (the "Offered Certificates"), having an aggregate original principal balance of $698,370,100.00. The Offered Certificates were issued pursuant to a Pooling and Servicing Agreement, dated February 26, 2004, among the Registrant, Bank of America, N.A., as servicer ("BANA") and Wells Fargo Bank, National Association, as trustee (the "Agreement"), a copy of which is filed as an exhibit hereto. Mortgage Pass-Through Certificates, Series 2004-B, Class SES, Class 1-IO, Class 2-IO, Class B-4, Class B-5 and Class B-6 Certificates, having an aggregate initial principal balance of $3,862,444.00 (the "Private 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 99.45% undivided interest in a trust (the "Trust"), consisting principally of two pools of adjustable interest rate, monthly pay, fully-amortizing, one- to four-family residential first mortgage loans. The remaining undivided interests in the Trust are evidenced by the Private 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 (as defined in the Agreement) is sufficient therefor. Elections will be made to treat the Trust as two separate REMICs for federal income tax purposes (the "Upper-Tier REMIC" and the "Lower-Tier REMIC" and each a "REMIC"). The Class 1-A-1, Class 1-IO, Class 2-A-1, Class 2-A-2, Class 2-IO, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates and each component of the Class SES Certificates will be treated as "regular interests" in the REMIC and the Class 1-A-R and Class 1-A-LR Certificates will be treated as the "residual interest" in the Upper-Tier REMIC and the 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 February 26, 2004, among Banc of America Mortgage Securities, Inc., Bank of America, N.A. and Wells Fargo 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. BANC OF AMERICA MORTGAGE SECURITIES, INC. February 26, 2004 By: /s/ Judy Lowman --------------------------------------- Name: Judy Lowman Title: Vice President INDEX TO EXHIBITS Paper (P) or Exhibit No. Description Electronic (E) ----------- ----------- -------------- (EX-4) Pooling and Servicing E Agreement, dated February 26, 2004, among Banc of America Mortgage Securities, Inc., Bank of America, N.A. and Wells Fargo Bank, National Association, as trustee.

Banc of America Mortgage Securities, Inc. Mortgage Pass-Through Certificates Record Date: 2/29/2004 Distribution Date: 3/25/2004 BAM Series: 2004-B Contact: Customer Service - CTSLink Wells Fargo Bank, 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 1-A-1 05948X2Y6 SEN 3.49962% 63,317,000.00 184,654.48 2,354,680.28 1-A-R 05948X2Z3 SEN 3.49962% 50.00 0.15 50.00 1-A-LR 05948X3A7 SEN 3.49962% 50.00 0.47 50.00 2-A-1 05948X3B5 SEN 3.60506% 98,549,000.00 296,062.68 529,331.31 2-A-2 05948X3C3 SEN 4.18306% 520,000,000.00 1,812,660.04 2,793,049.98 B-1 05948X3D1 SUB 4.03604% 9,481,000.00 31,888.05 4,630.37 B-2 05948X3E9 SUB 4.03604% 4,214,000.00 14,173.21 2,058.05 B-3 05948X3F6 SUB 4.03604% 2,809,000.00 9,447.69 1,371.87 B-4 05948X2S9 SUB 4.03604% 1,404,000.00 4,722.16 685.69 B-5 05948X2T7 SUB 4.03604% 1,053,000.00 3,541.62 514.27 B-6 05948X2U4 SUB 4.03604% 1,405,444.00 4,727.02 686.40 1-IO 05948X2W0 SEN 0.63900% 0.00 34,723.88 0.00 2-IO 05948X2X8 SEN 0.31909% 0.00 169,388.77 0.00 SES 05948X2V2 SEN 0.00000% 0.00 124,660.58 0.00 Totals 702,232,544.00 2,690,650.80 5,687,108.22

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A-1 0.00 60,962,319.72 2,539,334.76 0.00 1-A-R 0.00 0.00 50.15 0.00 1-A-LR 0.00 0.00 50.47 0.00 2-A-1 0.00 98,019,668.69 825,393.99 0.00 2-A-2 0.00 517,206,950.02 4,605,710.02 0.00 B-1 0.00 9,476,369.63 36,518.42 0.00 B-2 0.00 4,211,941.95 16,231.26 0.00 B-3 0.00 2,807,628.13 10,819.56 0.00 B-4 0.00 1,403,314.31 5,407.85 0.00 B-5 0.00 1,052,485.73 4,055.89 0.00 B-6 0.00 1,404,757.60 5,413.42 0.00 1-IO 0.00 0.00 34,723.88 0.00 2-IO 0.00 0.00 169,388.77 0.00 SES 0.00 0.00 124,660.58 0.00 Totals 0.00 696,545,435.78 8,377,759.02 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) 1-A-1 63,317,000.00 63,317,000.00 88,046.51 2,266,633.77 0.00 0.00 1-A-R 50.00 50.00 1.87 48.13 0.00 0.00 1-A-LR 50.00 50.00 1.87 48.13 0.00 0.00 2-A-1 98,549,000.00 98,549,000.00 39,023.48 490,307.83 0.00 0.00 2-A-2 520,000,000.00 520,000,000.00 205,909.86 2,587,140.12 0.00 0.00 B-1 9,481,000.00 9,481,000.00 4,630.37 0.00 0.00 0.00 B-2 4,214,000.00 4,214,000.00 2,058.05 0.00 0.00 0.00 B-3 2,809,000.00 2,809,000.00 1,371.87 0.00 0.00 0.00 B-4 1,404,000.00 1,404,000.00 685.69 0.00 0.00 0.00 B-5 1,053,000.00 1,053,000.00 514.27 0.00 0.00 0.00 B-6 1,405,444.00 1,405,444.00 686.40 0.00 0.00 0.00 1-IO 0.00 0.00 0.00 0.00 0.00 0.00 2-IO 0.00 0.00 0.00 0.00 0.00 0.00 SES 0.00 0.00 0.00 0.00 0.00 0.00 Totals 702,232,544.00 702,232,544.00 342,930.24 5,344,177.98 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 1-A-1 2,354,680.28 60,962,319.72 0.96281125 2,354,680.28 1-A-R 50.00 0.00 0.00000000 50.00 1-A-LR 50.00 0.00 0.00000000 50.00 2-A-1 529,331.31 98,019,668.69 0.99462875 529,331.31 2-A-2 2,793,049.98 517,206,950.02 0.99462875 2,793,049.98 B-1 4,630.37 9,476,369.63 0.99951162 4,630.37 B-2 2,058.05 4,211,941.95 0.99951162 2,058.05 B-3 1,371.87 2,807,628.13 0.99951162 1,371.87 B-4 685.69 1,403,314.31 0.99951162 685.69 B-5 514.27 1,052,485.73 0.99951161 514.27 B-6 686.40 1,404,757.60 0.99951161 686.40 1-IO 0.00 0.00 0.00000000 0.00 2-IO 0.00 0.00 0.00000000 0.00 SES 0.00 0.00 0.00000000 0.00 Totals 5,687,108.22 696,545,435.78 0.99190139 5,687,108.22

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A-1 63,317,000.00 1000.00000000 1.39056667 35.79818643 0.00000000 1-A-R 50.00 1000.00000000 37.40000000 962.60000000 0.00000000 1-A-LR 50.00 1000.00000000 37.40000000 962.60000000 0.00000000 2-A-1 98,549,000.00 1000.00000000 0.39598048 4.97526946 0.00000000 2-A-2 520,000,000.00 1000.00000000 0.39598050 4.97526946 0.00000000 B-1 9,481,000.00 1000.00000000 0.48838414 0.00000000 0.00000000 B-2 4,214,000.00 1000.00000000 0.48838396 0.00000000 0.00000000 B-3 2,809,000.00 1000.00000000 0.48838377 0.00000000 0.00000000 B-4 1,404,000.00 1000.00000000 0.48838319 0.00000000 0.00000000 B-5 1,053,000.00 1000.00000000 0.48838557 0.00000000 0.00000000 B-6 1,405,444.00 1000.00000000 0.48838659 0.00000000 0.00000000 1-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 2-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 SES 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution 1-A-1 0.00000000 37.18875310 962.81124690 0.96281125 37.18875310 1-A-R 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000 1-A-LR 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000 2-A-1 0.00000000 5.37124994 994.62875006 0.99462875 5.37124994 2-A-2 0.00000000 5.37124996 994.62875004 0.99462875 5.37124996 B-1 0.00000000 0.48838414 999.51161586 0.99951162 0.48838414 B-2 0.00000000 0.48838396 999.51161604 0.99951162 0.48838396 B-3 0.00000000 0.48838377 999.51161623 0.99951162 0.48838377 B-4 0.00000000 0.48838319 999.51161681 0.99951162 0.48838319 B-5 0.00000000 0.48838557 999.51161443 0.99951161 0.48838557 B-6 0.00000000 0.48838659 999.51161341 0.99951161 0.48838659 1-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 SES 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 1-A-1 63,317,000.00 3.49962% 63,317,000.00 184,654.48 0.00 0.00 1-A-R 50.00 3.49962% 50.00 0.15 0.00 0.00 1-A-LR 50.00 3.49962% 50.00 0.15 0.00 0.00 2-A-1 98,549,000.00 3.60506% 98,549,000.00 296,062.68 0.00 0.00 2-A-2 520,000,000.00 4.18306% 520,000,000.00 1,812,660.04 0.00 0.00 B-1 9,481,000.00 4.03604% 9,481,000.00 31,888.05 0.00 0.00 B-2 4,214,000.00 4.03604% 4,214,000.00 14,173.21 0.00 0.00 B-3 2,809,000.00 4.03604% 2,809,000.00 9,447.69 0.00 0.00 B-4 1,404,000.00 4.03604% 1,404,000.00 4,722.16 0.00 0.00 B-5 1,053,000.00 4.03604% 1,053,000.00 3,541.62 0.00 0.00 B-6 1,405,444.00 4.03604% 1,405,444.00 4,727.02 0.00 0.00 1-IO 0.00 0.63900% 65,209,158.89 34,723.88 0.00 0.00 2-IO 0.00 0.31909% 637,023,385.58 169,388.77 0.00 0.00 SES 0.00 0.00000% 702,232,544.47 0.00 0.00 0.00 Totals 702,232,544.00 2,565,989.90 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 1-A-1 0.00 0.00 184,654.48 0.00 60,962,319.72 1-A-R 0.00 0.00 0.15 0.00 0.00 1-A-LR 0.00 0.00 0.47 0.00 0.00 2-A-1 0.00 0.00 296,062.68 0.00 98,019,668.69 2-A-2 0.00 0.00 1,812,660.04 0.00 517,206,950.02 B-1 0.00 0.00 31,888.05 0.00 9,476,369.63 B-2 0.00 0.00 14,173.21 0.00 4,211,941.95 B-3 0.00 0.00 9,447.69 0.00 2,807,628.13 B-4 0.00 0.00 4,722.16 0.00 1,403,314.31 B-5 0.00 0.00 3,541.62 0.00 1,052,485.73 B-6 0.00 0.00 4,727.02 0.00 1,404,757.60 1-IO 0.00 0.00 34,723.88 0.00 62,851,747.47 2-IO 0.00 0.00 169,388.77 0.00 633,693,688.79 SES 0.00 0.00 124,660.58 0.00 696,545,436.26 Totals 0.00 0.00 2,690,650.80 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 1-A-1 63,317,000.00 3.49962% 1000.00000000 2.91634916 0.00000000 0.00000000 1-A-R 50.00 3.49962% 1000.00000000 3.00000000 0.00000000 0.00000000 1-A-LR 50.00 3.49962% 1000.00000000 3.00000000 0.00000000 0.00000000 2-A-1 98,549,000.00 3.60506% 1000.00000000 3.00421800 0.00000000 0.00000000 2-A-2 520,000,000.00 4.18306% 1000.00000000 3.48588469 0.00000000 0.00000000 B-1 9,481,000.00 4.03604% 1000.00000000 3.36336357 0.00000000 0.00000000 B-2 4,214,000.00 4.03604% 1000.00000000 3.36336260 0.00000000 0.00000000 B-3 2,809,000.00 4.03604% 1000.00000000 3.36336419 0.00000000 0.00000000 B-4 1,404,000.00 4.03604% 1000.00000000 3.36336182 0.00000000 0.00000000 B-5 1,053,000.00 4.03604% 1000.00000000 3.36336182 0.00000000 0.00000000 B-6 1,405,444.00 4.03604% 1000.00000000 3.36336418 0.00000000 0.00000000 1-IO 0.00 0.63900% 1000.00000000 0.53250004 0.00000000 0.00000000 2-IO 0.00 0.31909% 1000.00000000 0.26590667 0.00000000 0.00000000 SES 0.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 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 1-A-1 0.00000000 0.00000000 2.91634916 0.00000000 962.81124690 1-A-R 0.00000000 0.00000000 3.00000000 0.00000000 0.00000000 1-A-LR 0.00000000 0.00000000 9.40000000 0.00000000 0.00000000 2-A-1 0.00000000 0.00000000 3.00421800 0.00000000 994.62875006 2-A-2 0.00000000 0.00000000 3.48588469 0.00000000 994.62875004 B-1 0.00000000 0.00000000 3.36336357 0.00000000 999.51161586 B-2 0.00000000 0.00000000 3.36336260 0.00000000 999.51161604 B-3 0.00000000 0.00000000 3.36336419 0.00000000 999.51161623 B-4 0.00000000 0.00000000 3.36336182 0.00000000 999.51161681 B-5 0.00000000 0.00000000 3.36336182 0.00000000 999.51161443 B-6 0.00000000 0.00000000 3.36336418 0.00000000 999.51161341 1-IO 0.00000000 0.00000000 0.53250004 0.00000000 963.84846147 2-IO 0.00000000 0.00000000 0.26590667 0.00000000 994.77303838 SES 0.00000000 0.00000000 0.17752037 0.00000000 991.90138900 (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 Component Statement Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage 1-SES 0.00000% 65,209,158.89 62,851,747.47 0.00 0.00 96.38484615% 2-SES 0.00000% 637,023,385.58 633,693,688.79 0.00 0.00 99.47730384%

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 8,407,093.15 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1,973.76 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 8,409,066.91 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 31,307.89 Payment of Interest and Principal 8,377,759.02 Total Withdrawals (Pool Distribution Amount) 8,409,066.91 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 29,259.69 Trustee Fee - Wells Fargo Bank, N.A. 2,048.20 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 31,307.89

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 1 382,040.40 0.00 0.00 0.00 382,040.40 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 1 382,040.40 0.00 0.00 0.00 382,040.40 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 0.077942% 0.000000% 0.000000% 0.000000% 0.077942% 0.054404% 0.000000% 0.000000% 0.000000% 0.054404% 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 0.077942% 0.000000% 0.000000% 0.000000% 0.077942% 0.054404% 0.000000% 0.000000% 0.000000% 0.054404%

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 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% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 1 0 0 0 1 382,040.40 0.00 0.00 0.00 382,040.40 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 1 382,040.40 0.00 0.00 0.00 382,040.40 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.086207% 0.000000% 0.000000% 0.000000% 0.086207% 0.059973% 0.000000% 0.000000% 0.000000% 0.059973% 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 0.086207% 0.000000% 0.000000% 0.000000% 0.086207% 0.059973% 0.000000% 0.000000% 0.000000% 0.059973%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1,973.76

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.649963% Weighted Average Net Coupon 4.388355% Weighted Average Pass-Through Rate 4.384854% Weighted Average Maturity(Stepdown Calculation ) 356 Beginning Scheduled Collateral Loan Count 1,292 Number Of Loans Paid In Full 9 Ending Scheduled Collateral Loan Count 1,283 Beginning Scheduled Collateral Balance 702,232,544.00 Ending Scheduled Collateral Balance 696,545,436.26 Ending Actual Collateral Balance at 29-Feb-2004 702,228,681.52 Monthly P &I Constant 3,064,059.69 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 696,545,436.26 Scheduled Principal 342,930.23 Unscheduled Principal 5,344,177.98

Miscellaneous Reporting Total Senior% 97.099758% Total Subordinate% 2.900242%

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.517119 4.663562 4.649963 Weighted Average Net Rate 4.267119 4.413562 4.388355 Weighted Average Maturity 355 358 356 Beginning Loan Count 356 1,165 1,521 Loans Paid In Full 233 5 238 Ending Loan Count 123 1,160 1,283 Beginning Scheduled Balance 65,209,158.89 637,023,385.58 702,232,544.47 Ending scheduled Balance 62,851,747.47 633,693,688.79 696,545,436.26 Record Date 02/29/2004 02/29/2004 02/29/2004 Principal And Interest Constant 336,146.00 2,727,913.69 3,064,059.69 Scheduled Principal 90,681.39 252,248.84 342,930.23 Unscheduled Principal 2,266,730.03 3,077,447.95 5,344,177.98 Scheduled Interest 245,464.61 2,475,664.85 2,721,129.46 Servicing Fees 13,585.24 132,713.22 146,298.46 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 190.20 1,858.00 2,048.20 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 6,792.62 0.00 6,792.62 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 224,896.55 2,341,093.63 2,565,990.18 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 Pass-Through Rate 4.138619 4.410062 4.384854

Miscellaneous Reporting Group Group 1 CPR 34.633170% Senior Prepayment% 100.000000% Subordinate% 2.901523% Subordinate Prepayment% 0.000000% Senior% 97.098477% Group Group 2 CPR 5.647775% Senior Prepayment% 100.000000% Subordinate% 2.900111% Subordinate Prepayment% 0.000000% Senior% 97.099889%

Filing Compare · BANC OF AMERICA MORTGAGE SECURITIES PASS THRU SER 2004-B