8-K 1 ba745826-8k.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: January 30, 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) 387-2111 ------------------------------------------------------------------------------ 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 January 30, 2004, Banc of America Mortgage Securities, Inc. (the "Registrant") amended the Pooling and Servicing Agreement, dated January 28, 2003, among the Registrant, as depositor, Bank of America, N.A., as servicer, and Wells Fargo Bank Minnesota, National Association, as trustee, relating to Banc of America Alternative Loan Trust 2003-1 Mortgage Pass-Through Certificates, Series 2003-1. A copy of the amendment is filed as an exhibit hereto. ITEM 7. Financial Statements and Exhibits --------------------------------- (c) Exhibits Item 601(a) of Regulation S-K Exhibit No. Description ----------- ----------- (EX-4) Amendment No. 1, dated January 30, 2004, to Pooling and Servicing Agreement, dated January 28, 2003, among Banc of America Mortgage Securities, Inc., Bank of America, N.A. and Wells Fargo Bank Minnesota, 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. January 30, 2004 By: /s/ Judy Lowman ------------------------------------- Name: Judy Lowman Title: Vice President INDEX TO EXHIBITS ----------------- Paper (P) or Exhibit No. Description Electronic (E) ----------- ----------- -------------- (EX-4) Amendment No. 1, dated January E 30, 2004, to Pooling and Servicing Agreement, dated January 28, 2003, among Banc of America Mortgage Securities, Inc., Bank of America, N.A. and Wells Fargo Bank Minnesota, National Association, as trustee.

Banc of America Alternative Loan Trust Mortgage Pass-Through Certificates Record Date: 12/31/03 Distribution Date: 1/26/04 BAA Series: 2003-1 Contact: CTSLink Customer Service Wells Fargo Bank Minnesota, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 Telephone: (301) 815-6600 Fax: (301) 815-6600 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 05948KAA7 SEN 5.00000% 79,861,341.34 332,755.56 1,713,760.88 A-2 05948KAB5 SEN 5.50000% 79,861,341.34 366,031.12 1,713,760.88 A-3 05948KAC3 SEN 1.63125% 47,916,803.89 65,136.90 1,028,256.51 A-4 05948KAD1 SEN 6.86875% 0.00 274,273.77 0.00 A-5 05948KAE9 SEN 6.00000% 1,056,395.20 5,281.98 (5,281.98) A-6 05948KAF6 SEN 6.00000% 32,500,000.00 162,499.99 0.00 A-PO 05948KAK5 PO 0.00000% 1,291,882.49 0.00 3,962.05 A-WIO 05948KAJ8 IO 0.34456% 0.00 54,248.18 0.00 B-1 05948KAL3 SUB 6.00000% 8,528,425.86 42,642.13 9,056.40 B-2 05948KAM1 SUB 6.00000% 3,218,311.23 16,091.55 3,417.55 B-3 05948KAN9 SUB 6.00000% 1,609,155.62 8,045.78 1,708.78 B-4 05948KAP4 SUB 6.00000% 1,287,720.11 6,438.60 1,367.44 B-5 05948KAQ2 SUB 6.00000% 965,295.56 4,826.48 1,025.06 B-6 05948KAR0 SUB 6.00000% 966,002.54 4,830.01 1,025.81 A-R 05948KAG4 SEN 6.00000% 0.00 0.00 0.00 A-LR 05948KAH2 SEN 6.00000% 0.00 0.00 0.00 SES BANCOF031SES SEN 0.00000% 0.00 45,370.25 0.00 Totals 259,062,675.18 1,388,472.30 4,472,059.38

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 78,147,580.45 2,046,516.44 0.00 A-2 0.00 78,147,580.45 2,079,792.00 0.00 A-3 0.00 46,888,547.38 1,093,393.41 0.00 A-4 0.00 0.00 274,273.77 0.00 A-5 0.00 1,061,677.17 0.00 0.00 A-6 0.00 32,500,000.00 162,499.99 0.00 A-PO 0.00 1,287,920.44 3,962.05 0.00 A-WIO 0.00 0.00 54,248.18 0.00 B-1 0.00 8,519,369.45 51,698.53 0.00 B-2 0.00 3,214,893.68 19,509.10 0.00 B-3 0.00 1,607,446.84 9,754.56 0.00 B-4 0.00 1,286,352.66 7,806.04 0.00 B-5 0.00 964,270.51 5,851.54 0.00 B-6 0.00 964,976.74 5,855.82 0.00 A-R 0.00 0.00 0.00 0.00 A-LR 0.00 0.00 0.00 0.00 SES 0.00 0.00 45,370.25 0.00 Totals 0.00 254,590,615.77 5,860,531.68 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-1 105,253,462.00 79,861,341.34 98,627.62 1,615,133.27 0.00 0.00 A-2 105,253,462.00 79,861,341.34 98,627.62 1,615,133.27 0.00 0.00 A-3 63,152,076.00 47,916,803.89 59,176.57 969,079.94 0.00 0.00 A-4 0.00 0.00 0.00 0.00 0.00 0.00 A-5 1,000,000.00 1,056,395.20 0.00 0.00 (5,281.98) 0.00 A-6 32,500,000.00 32,500,000.00 0.00 0.00 0.00 0.00 A-PO 1,480,975.00 1,291,882.49 1,626.56 2,335.49 0.00 0.00 A-WIO 0.00 0.00 0.00 0.00 0.00 0.00 B-1 8,623,000.00 8,528,425.86 9,056.40 0.00 0.00 0.00 B-2 3,254,000.00 3,218,311.23 3,417.55 0.00 0.00 0.00 B-3 1,627,000.00 1,609,155.62 1,708.78 0.00 0.00 0.00 B-4 1,302,000.00 1,287,720.11 1,367.44 0.00 0.00 0.00 B-5 976,000.00 965,295.56 1,025.06 0.00 0.00 0.00 B-6 976,714.00 966,002.54 1,025.81 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 SES 0.00 0.00 0.00 0.00 0.00 0.00 Totals 325,398,789.00 259,062,675.18 275,659.41 4,201,681.97 (5,281.98) 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-1 1,713,760.88 78,147,580.45 0.74247040 1,713,760.88 A-2 1,713,760.88 78,147,580.45 0.74247040 1,713,760.88 A-3 1,028,256.51 46,888,547.38 0.74247040 1,028,256.51 A-4 0.00 0.00 0.00000000 0.00 A-5 (5,281.98) 1,061,677.17 1.06167717 (5,281.98) A-6 0.00 32,500,000.00 1.00000000 0.00 A-PO 3,962.05 1,287,920.44 0.86964361 3,962.05 A-WIO 0.00 0.00 0.00000000 0.00 B-1 9,056.40 8,519,369.45 0.98798208 9,056.40 B-2 3,417.55 3,214,893.68 0.98798208 3,417.55 B-3 1,708.78 1,607,446.84 0.98798208 1,708.78 B-4 1,367.44 1,286,352.66 0.98798207 1,367.44 B-5 1,025.06 964,270.51 0.98798208 1,025.06 B-6 1,025.81 964,976.74 0.98798291 1,025.81 A-R 0.00 0.00 0.00000000 0.00 A-LR 0.00 0.00 0.00000000 0.00 SES 0.00 0.00 0.00000000 0.00 Totals 4,472,059.38 254,590,615.77 0.78239571 4,472,059.38

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 105,253,462.00 758.75263219 0.93704870 15.34517952 0.00000000 A-2 105,253,462.00 758.75263219 0.93704870 15.34517952 0.00000000 A-3 63,152,076.00 758.75263214 0.93704869 15.34517947 0.00000000 A-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-5 1,000,000.00 1056.39520000 0.00000000 0.00000000 (5.28198000) A-6 32,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-PO 1,480,975.00 872.31890478 1.09830348 1.57699489 0.00000000 A-WIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,623,000.00 989.03233909 1.05026093 0.00000000 0.00000000 B-2 3,254,000.00 989.03233866 1.05026122 0.00000000 0.00000000 B-3 1,627,000.00 989.03234173 1.05026429 0.00000000 0.00000000 B-4 1,302,000.00 989.03234255 1.05026114 0.00000000 0.00000000 B-5 976,000.00 989.03233607 1.05026639 0.00000000 0.00000000 B-6 976,714.00 989.03316631 1.05026651 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 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 A-1 0.00000000 16.28222813 742.47040397 0.74247040 16.28222813 A-2 0.00000000 16.28222813 742.47040397 0.74247040 16.28222813 A-3 0.00000000 16.28222816 742.47040398 0.74247040 16.28222816 A-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-5 0.00000000 (5.28198000) 1,061.67717000 1.06167717 (5.28198000) A-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-PO 0.00000000 2.67529837 869.64360641 0.86964361 2.67529837 A-WIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1.05026093 987.98207700 0.98798208 1.05026093 B-2 0.00000000 1.05026122 987.98207744 0.98798208 1.05026122 B-3 0.00000000 1.05026429 987.98207744 0.98798208 1.05026429 B-4 0.00000000 1.05026114 987.98207373 0.98798207 1.05026114 B-5 0.00000000 1.05026639 987.98207992 0.98798208 1.05026639 B-6 0.00000000 1.05026651 987.98291004 0.98798291 1.05026651 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-LR 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 A-1 105,253,462.00 5.00000% 79,861,341.34 332,755.59 0.00 0.00 A-2 105,253,462.00 5.50000% 79,861,341.34 366,031.15 0.00 0.00 A-3 63,152,076.00 1.63125% 47,916,803.89 65,136.91 0.00 0.00 A-4 0.00 6.86875% 47,916,803.89 274,273.79 0.00 0.00 A-5 1,000,000.00 6.00000% 1,056,395.20 5,281.98 0.00 0.00 A-6 32,500,000.00 6.00000% 32,500,000.00 162,500.00 0.00 0.00 A-PO 1,480,975.00 0.00000% 1,291,882.49 0.00 0.00 0.00 A-WIO 0.00 0.34456% 188,928,595.13 54,248.19 0.00 0.00 B-1 8,623,000.00 6.00000% 8,528,425.86 42,642.13 0.00 0.00 B-2 3,254,000.00 6.00000% 3,218,311.23 16,091.56 0.00 0.00 B-3 1,627,000.00 6.00000% 1,609,155.62 8,045.78 0.00 0.00 B-4 1,302,000.00 6.00000% 1,287,720.11 6,438.60 0.00 0.00 B-5 976,000.00 6.00000% 965,295.56 4,826.48 0.00 0.00 B-6 976,714.00 6.00000% 966,002.54 4,830.01 0.00 0.00 A-R 50.00 6.00000% 0.00 0.00 0.00 0.00 A-LR 50.00 6.00000% 0.00 0.00 0.00 0.00 SES 0.00 0.00000% 259,062,675.17 0.00 0.00 0.00 Totals 325,398,789.00 1,343,102.17 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 0.02 0.00 332,755.56 0.00 78,147,580.45 A-2 0.03 0.00 366,031.12 0.00 78,147,580.45 A-3 0.00 0.00 65,136.90 0.00 46,888,547.38 A-4 0.02 0.00 274,273.77 0.00 46,888,547.38 A-5 0.00 0.00 5,281.98 0.00 1,061,677.17 A-6 0.01 0.00 162,499.99 0.00 32,500,000.00 A-PO 0.00 0.00 0.00 0.00 1,287,920.44 A-WIO 0.00 0.00 54,248.18 0.00 185,161,948.00 B-1 0.00 0.00 42,642.13 0.00 8,519,369.45 B-2 0.00 0.00 16,091.55 0.00 3,214,893.68 B-3 0.00 0.00 8,045.78 0.00 1,607,446.84 B-4 0.00 0.00 6,438.60 0.00 1,286,352.66 B-5 0.00 0.00 4,826.48 0.00 964,270.51 B-6 0.00 0.00 4,830.01 0.00 964,976.74 A-R 0.00 0.00 0.00 0.00 0.00 A-LR 0.00 0.00 0.00 0.00 0.00 SES 0.00 0.00 45,370.25 0.00 254,590,615.79 Totals 0.08 0.00 1,388,472.30 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-1 105,253,462.00 5.00000% 758.75263219 3.16146931 0.00000000 0.00000000 A-2 105,253,462.00 5.50000% 758.75263219 3.47761625 0.00000000 0.00000000 A-3 63,152,076.00 1.63125% 758.75263214 1.03142943 0.00000000 0.00000000 A-4 0.00 6.86875% 758.75263214 4.34306847 0.00000000 0.00000000 A-5 1,000,000.00 6.00000% 1056.39520000 5.28198000 0.00000000 0.00000000 A-6 32,500,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 A-PO 1,480,975.00 0.00000% 872.31890478 0.00000000 0.00000000 0.00000000 A-WIO 0.00 0.34456% 775.35601227 0.22263258 0.00000000 0.00000000 B-1 8,623,000.00 6.00000% 989.03233909 4.94516178 0.00000000 0.00000000 B-2 3,254,000.00 6.00000% 989.03233866 4.94516288 0.00000000 0.00000000 B-3 1,627,000.00 6.00000% 989.03234173 4.94516288 0.00000000 0.00000000 B-4 1,302,000.00 6.00000% 989.03234255 4.94516129 0.00000000 0.00000000 B-5 976,000.00 6.00000% 989.03233607 4.94516393 0.00000000 0.00000000 B-6 976,714.00 6.00000% 989.03316631 4.94516307 0.00000000 0.00000000 A-R 50.00 6.00000% 0.00000000 0.00000000 0.00000000 0.00000000 A-LR 50.00 6.00000% 0.00000000 0.00000000 0.00000000 0.00000000 SES 0.00 0.00000% 796.13902672 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 A-1 0.00000019 0.00000000 3.16146903 0.00000000 742.47040397 A-2 0.00000029 0.00000000 3.47761597 0.00000000 742.47040397 A-3 0.00000000 0.00000000 1.03142928 0.00000000 742.47040398 A-4 0.00000032 0.00000000 4.34306815 0.00000000 742.47040398 A-5 0.00000000 0.00000000 5.28198000 0.00000000 1061.67717000 A-6 0.00000031 0.00000000 4.99999969 0.00000000 1000.00000000 A-PO 0.00000000 0.00000000 0.00000000 0.00000000 869.64360641 A-WIO 0.00000000 0.00000000 0.22263254 0.00000000 759.89783085 B-1 0.00000000 0.00000000 4.94516178 0.00000000 987.98207700 B-2 0.00000000 0.00000000 4.94515980 0.00000000 987.98207744 B-3 0.00000000 0.00000000 4.94516288 0.00000000 987.98207744 B-4 0.00000000 0.00000000 4.94516129 0.00000000 987.98207373 B-5 0.00000000 0.00000000 4.94516393 0.00000000 987.98207992 B-6 0.00000000 0.00000000 4.94516307 0.00000000 987.98291004 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 SES 0.00000000 0.00000000 0.13942968 0.00000000 782.39570766 (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 5,872,945.11 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 5,872,945.11 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 12,413.43 Payment of Interest and Principal 5,860,531.68 Total Withdrawals (Pool Distribution Amount) 5,872,945.11 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 10,794.28 TrusTee Fee 1,619.15 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 12,413.43

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 12 0 0 0 12 2,495,662.88 0.00 0.00 0.00 2,495,662.88 60 Days 2 0 0 0 2 160,837.83 0.00 0.00 0.00 160,837.83 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 1 0 0 0 1 51,289.58 0.00 0.00 0.00 51,289.58 Totals 15 0 0 0 15 2,707,790.29 0.00 0.00 0.00 2,707,790.29 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 0.615700% 0.000000% 0.000000% 0.000000% 0.615700% 0.979370% 0.000000% 0.000000% 0.000000% 0.979370% 60 Days 0.102617% 0.000000% 0.000000% 0.000000% 0.102617% 0.063117% 0.000000% 0.000000% 0.000000% 0.063117% 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 0.051308% 0.000000% 0.000000% 0.000000% 0.051308% 0.020128% 0.000000% 0.000000% 0.000000% 0.020128% Totals 0.769625% 0.000000% 0.000000% 0.000000% 0.769625% 1.062615% 0.000000% 0.000000% 0.000000% 1.062615%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 16,802.50

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 18,239,689.00 5.60533401% 17,845,230.32 7.00938260% 93.463429% 0.000000% Class B-1 8,135,714.00 2.50022873% 8,037,940.43 3.15720216% 3.363316% 51.453826% Class B-2 4,881,714.00 1.50022501% 4,823,046.75 1.89443226% 1.269190% 19.416763% Class B-3 3,254,714.00 1.00022314% 3,215,599.91 1.26304730% 0.634595% 9.708382% Class B-4 1,952,714.00 0.60009873% 1,929,247.25 0.75778412% 0.507832% 7.769092% Class B-5 976,714.00 0.30015908% 964,976.74 0.37903076% 0.380679% 5.823836% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.380958% 5.828101% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.478861% Weighted Average Pass-Through Rate 6.221361% Weighted Average Maturity(Stepdown Calculation ) 341 Beginning Scheduled Collateral Loan Count 1,974 Number Of Loans Paid In Full 25 Ending Scheduled Collateral Loan Count 1,949 Beginning Scheduled Collateral Balance 259,062,675.17 Ending Scheduled Collateral Balance 254,590,615.79 Ending Actual Collateral Balance at 31-Dec-2003 254,823,234.36 Monthly P &I Constant 1,674,047.99 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 5,710,723.92 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans 254,590,615.79 Scheduled Principal 275,355.41 Unscheduled Principal 4,196,703.97

Miscellaneous Reporting Priority % 12.608100% CPR 17.814957% Senior % 93.569903% Senior Prepayment % 100.000000% Subordinate % 6.430097% Subordinate Prepayment % 0.000000%

Filing Compare · BANC OF AMERICA MORT SEC INC ALTERNATIVE LOAN TRUST 2003-1