8-K 1 baf03001.txt SEPTEMBER 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): September 22, 2003 BANC OF AMERICA FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-38154-03 54-2120447 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 September 22, 2003 a distribution was made to holders of BANC OF AMERICA FUNDING CORPORATION, Mortgage Pass-Through Certificates, Series 2003-1 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 2003-1 Trust, relating to the September 22, 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. BANC OF AMERICA FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2003-1 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/22/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the September 22, 2003 distribution.

Bank of America Funding Corporation Mortgage Pass-Through Certificates Record Date: 78/31/03 Distribution Date: 89/2022/03 BAF Series: 2003-1 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 05946XBV4 SEQ 6.00000% ~~626~~528,~~640~~517,~~439~~342.5550 32,~~133~~642,~~047~~433.8451 98122,~~123~~230,~~097~~700.0510 A-R 05946XBW2 SEQ 6.00000% 0.00 0.00 0.00 A-PO 05946XBY8 PO 0.00000% ~~321~~306,~~567~~537.5470 0.00 ~~15,029~~375.8379 A-WIO 05946XBX0 IO 0.~~54465~~54655% 0.00 ~~293~~250,~~738~~376.6635 0.00 B-1 05946XBZ5 SUB 6.00000% 13,~~230~~219,~~549~~348.4292 66,~~149~~092.4991 1110,~~200~~361.5022 B-2 05946XCA9 SUB 6.00000% 4,~~579~~575,~~421~~545.9215 22,~~895~~876.9840 3,~~876~~586.7727 B-3 05946XCB7 SUB 6.00000% 3,~~561~~558,~~994~~978.2781 17,~~809~~793.0986 32,~~015~~789.4550 B-4 05946XCC5 SUB 6.00000% 1,~~527~~525,~~138~~846.9614 7,~~635~~628.3279 1,~~292~~195.8295 B-5 05946XCD3 SUB 6.00000% 1,~~526~~524,~~141~~849.4851 7,~~630~~623.3381 1,~~291~~195.9816 B-6 05946XCE1 SUB 6.00000% 1,~~526~~525,~~967~~674.3972 7,~~634~~627.4693 1,~~292~~195.6781 Totals ~~652~~554,~~914~~754,~~220~~123.5345 3,~~556~~022,~~541~~453.1756 98122,~~160~~251,~~097~~399.0780

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~528~~406,~~517~~286,~~342~~642.5041 ~~101~~124,~~256~~873,~~144~~133.8961 0.00 A-R 0.00 0.00 0.00 0.00 A-PO 0.00 306,~~537~~161.7091 ~~15,029~~375.8379 0.00 A-WIO 0.00 0.00 ~~293~~250,~~738~~376.6635 0.00 B-1 0.00 13,~~219~~208,~~348~~987.9270 7776,~~349~~454.9913 0.00 B-2 0.00 4,~~575~~571,~~545~~958.1588 26,~~772~~462.7567 0.00 B-3 0.00 3,~~558~~556,~~978~~189.8132 20,~~824~~583.5436 0.00 B-4 0.00 1,~~525~~524,~~846~~650.1419 8,~~928~~824.1474 0.00 B-5 0.00 1,~~524~~523,~~849~~654.5134 8,~~922~~818.3197 0.00 B-6 0.00 1,~~525~~524,~~674~~478.7291 8,~~927~~823.1374 0.00 Totals 0.00 ~~554~~432,~~754~~502,~~123~~723.4566 ~~101~~125,~~716~~273,~~638~~853.2436 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-1 993,910,000.00 ~~626~~528,~~640~~517,~~439~~342.5550 ~~530~~414,~~490~~247.9054 97121,~~592~~816,~~606~~452.1555 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 A-PO 345,868.00 ~~321~~306,~~567~~537.5470 ~~357~~359.2974 ~~14,672~~16.5406 0.00 0.00 A-WIO 0.00 0.00 0.00 0.00 0.00 0.00 B-1 13,264,000.00 13,~~230~~219,~~549~~348.4292 1110,~~200~~361.5022 0.00 0.00 0.00 B-2 4,591,000.00 4,~~579~~575,~~421~~545.9215 3,~~876~~586.7727 0.00 0.00 0.00 B-3 3,571,000.00 3,~~561~~558,~~994~~978.2781 32,~~015~~789.4550 0.00 0.00 0.00 B-4 1,531,000.00 1,~~527~~525,~~138~~846.9614 1,~~292~~195.8295 0.00 0.00 0.00 B-5 1,530,000.00 1,~~526~~524,~~141~~849.4851 1,~~291~~195.9816 0.00 0.00 0.00 B-6 1,530,828.00 1,~~526~~525,~~967~~674.3972 1,~~292~~195.6781 0.00 0.00 0.00 Totals 1,020,273,796.00 ~~652~~554,~~914~~754,~~220~~123.5345 ~~552~~434,~~818~~931.3819 97121,~~607~~816,~~278~~468.6961 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 98122,~~123~~230,~~097~~700.0510 ~~528~~406,~~517~~286,~~342~~642.5041 0.~~53175573~~40877609 98122,~~123~~230,~~097~~700.0510 A-R 0.00 0.00 0.00000000 0.00 A-PO ~~15,029~~375.8379 306,~~537~~161.7091 0.~~88628523~~88519872 ~~15,029~~375.8379 A-WIO 0.00 0.00 0.00000000 0.00 B-1 1110,~~200~~361.5022 13,~~219~~208,~~348~~987.9270 0.~~99663366~~99585251 1110,~~200~~361.5022 B-2 3,~~876~~586.7727 4,~~575~~571,~~545~~958.1588 0.~~99663366~~99585251 3,~~876~~586.7727 B-3 32,~~015~~789.4550 3,~~558~~556,~~978~~189.8132 0.~~99663366~~99585251 32,~~015~~789.4550 B-4 1,~~292~~195.8295 1,~~525~~524,~~846~~650.1419 0.~~99663366~~99585251 1,~~292~~195.8295 B-5 1,~~291~~195.9816 1,~~524~~523,~~849~~654.5134 0.~~99663367~~99585251 1,~~291~~195.9816 B-6 1,~~292~~195.6781 1,~~525~~524,~~674~~478.7291 0.~~99663366~~99585251 1,~~292~~195.6781 Totals 98122,~~160~~251,~~097~~399.0780 ~~554~~432,~~754~~502,~~123~~723.4566 0.~~54373064~~42390849 98122,~~160~~251,~~097~~399.0780

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 993,910,000.00 ~~630~~531.~~48006313~~75573493 0.~~53374139~~41678577 98122.~~19058682~~56286037 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A-PO 345,868.00 ~~929~~886.~~74065250~~28523020 1.~~03302416~~04010779 420.~~42236923~~04643390 0.00000000 A-WIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 13,264,000.00 ~~997~~996.~~47809258~~63366405 0.~~84442853~~78115350 0.00000000 0.00000000 B-2 4,591,000.00 ~~997~~996.~~47809192~~63366369 0.~~84442823~~78115225 0.00000000 0.00000000 B-3 3,571,000.00 ~~997~~996.~~47809297~~63366284 0.~~84442733~~78115374 0.00000000 0.00000000 B-4 1,531,000.00 ~~997~~996.~~47809275~~63366427 0.~~84442848~~78115611 0.00000000 0.00000000 B-5 1,530,000.00 ~~997~~996.~~47809150~~63366667 0.~~84443137~~78115033 0.00000000 0.00000000 B-6 1,530,828.00 ~~997~~996.~~47809029~~63366492 0.~~84442537~~78115242 0.00000000 0.00000000 (2) All classes are 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 98122.~~72432821~~97964615 ~~531~~408.~~75573493~~77608879 0.~~53175573~~40877609 98122.~~72432821~~97964615 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-PO 0.00000000 431.~~45539339~~08651277 ~~886~~885.~~28523020~~19871743 0.~~88628523~~88519872 431.~~45539339~~08651277 A-WIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~84442853~~78115350 ~~996~~995.~~63366405~~85251055 0.~~99663366~~99585251 0.~~84442853~~78115350 B-2 0.00000000 0.~~84442823~~78115225 ~~996~~995.~~63366369~~85251144 0.~~99663366~~99585251 0.~~84442823~~78115225 B-3 0.00000000 0.~~84442733~~78115374 ~~996~~995.~~63366284~~85251190 0.~~99663366~~99585251 0.~~84442733~~78115374 B-4 0.00000000 0.~~84442848~~78115611 ~~996~~995.~~63366427~~85250816 0.~~99663366~~99585251 0.~~84442848~~78115611 B-5 0.00000000 0.~~84443137~~78115033 ~~996~~995.~~63366667~~85250980 0.~~99663367~~99585251 0.~~84443137~~78115033 B-6 0.00000000 0.~~84442537~~78115242 ~~996~~995.~~63366492~~85251250 0.~~99663366~~99585251 0.~~84442537~~78115242 (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-1 993,910,000.00 6.00000% ~~626~~528,~~640~~517,~~439~~342.5550 32,~~133~~642,~~202~~586.2071 0.00 0.00 A-R 100.00 6.00000% 0.00 0.00 0.00 0.00 A-PO 345,868.00 0.00000% ~~321~~306,~~567~~537.5470 0.00 0.00 0.00 A-WIO 0.00 0.~~54465~~54655% ~~647~~549,~~206~~752,~~897~~479.3013 ~~293~~250,~~753~~390.1387 0.00 0.00 B-1 13,264,000.00 6.00000% 13,~~230~~219,~~549~~348.4292 66,~~152~~096.7574 0.00 0.00 B-2 4,591,000.00 6.00000% 4,~~579~~575,~~421~~545.9215 22,~~897~~877.1173 0.00 0.00 B-3 3,571,000.00 6.00000% 3,~~561~~558,~~994~~978.2781 17,~~809~~794.9789 0.00 0.00 B-4 1,531,000.00 6.00000% 1,~~527~~525,~~138~~846.9614 7,~~635~~629.6923 0.00 0.00 B-5 1,530,000.00 6.00000% 1,~~526~~524,~~141~~849.4851 7,~~630~~624.7125 0.00 0.00 B-6 1,530,828.00 6.00000% 1,~~526~~525,~~967~~674.3972 7,~~634~~628.8437 0.00 0.00 Totals 1,020,273,796.00 3,~~556~~022,~~716~~628.4079 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 ~~154~~153.3621 0.00 32,~~133~~642,~~047~~433.8451 0.00 ~~528~~406,~~517~~286,~~342~~642.5041 A-R 0.00 0.00 0.00 0.00 0.00 A-PO 0.00 0.00 0.00 0.00 306,~~537~~161.7091 A-WIO 14.4752 0.00 ~~293~~250,~~738~~376.6635 0.00 ~~549~~427,~~752~~507,~~479~~235.1336 B-1 3.2683 0.00 66,~~149~~092.4991 0.00 13,~~219~~208,~~348~~987.9270 B-2 1.1333 0.00 22,~~895~~876.9840 0.00 4,~~575~~571,~~545~~958.1588 B-3 01.8803 0.00 17,~~809~~793.0986 0.00 3,~~558~~556,~~978~~189.8132 B-4 0.3844 0.00 7,~~635~~628.3279 0.00 1,~~525~~524,~~846~~650.1419 B-5 0.3844 0.00 7,~~630~~623.3381 0.00 1,~~524~~523,~~849~~654.5134 B-6 0.3844 0.00 7,~~634~~627.4693 0.00 1,~~525~~524,~~674~~478.7291 Totals 175.24 0.00 3,~~556~~022,~~541~~453.1756 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-1 993,910,000.00 6.00000% ~~630~~531.~~48006313~~75573493 32.~~15240032~~65877867 0.00000000 0.00000000 A-R 100.00 6.00000% 0.00000000 0.00000000 0.00000000 0.00000000 A-PO 345,868.00 0.00000% ~~929~~886.~~74065250~~28523020 0.00000000 0.00000000 0.00000000 A-WIO 0.00 0.~~54465~~54655% ~~638~~542.~~62116820~~45956263 0.~~28985625~~24706923 0.00000000 0.00000000 B-1 13,264,000.00 6.00000% ~~997~~996.~~47809258~~63366405 4.~~98739068~~98316797 0.00000000 0.00000000 B-2 4,591,000.00 6.00000% ~~997~~996.~~47809192~~63366369 4.~~98739055~~98316924 0.00000000 0.00000000 B-3 3,571,000.00 6.00000% ~~997~~996.~~47809297~~63366284 4.~~98739009~~98316718 0.00000000 0.00000000 B-4 1,531,000.00 6.00000% ~~997~~996.~~47809275~~63366427 4.~~98738733~~98316786 0.00000000 0.00000000 B-5 1,530,000.00 6.00000% ~~997~~996.~~47809150~~63366667 4.~~98739216~~98316993 0.00000000 0.00000000 B-6 1,530,828.00 6.00000% ~~997~~996.~~47809029~~63366492 4.~~98739244~~98316597 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.~~00015531~~00015415 0.00000000 32.~~15224501~~65862453 0.00000000 ~~531~~408.~~75573493~~77608879 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~886~~885.~~28523020~~19871743 A-WIO 0.~~00001428~~00001433 0.00000000 0.~~28984198~~24705490 0.00000000 ~~542~~421.~~45956263~~83600205 B-1 0.~~00024578~~00028875 0.00000000 4.~~98714490~~98287922 0.00000000 ~~996~~995.~~63366405~~85251055 B-2 0.~~00024613~~00028970 0.00000000 4.~~98714441~~98287955 0.00000000 ~~996~~995.~~63366369~~85251144 B-3 0.~~00024643~~00028843 0.00000000 4.~~98714366~~98287875 0.00000000 ~~996~~995.~~63366284~~85251190 B-4 0.~~00024820~~00028739 0.00000000 4.~~98714566~~98288047 0.00000000 ~~996~~995.~~63366427~~85250816 B-5 0.~~00024837~~00028758 0.00000000 4.~~98714379~~98288235 0.00000000 ~~996~~995.~~63366667~~85250980 B-6 0.~~00024823~~00028743 0.00000000 4.~~98714421~~98287855 0.00000000 ~~996~~995.~~63366492~~85251250 (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 ~~101~~125,~~852~~389,~~662~~427.0314 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 ~~101~~125,~~852~~389,~~662~~427.0314 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~136~~115,~~023~~573.7978 Payment of Interest and Principal ~~101~~125,~~716~~273,~~638~~853.2436 Total Withdrawals (Pool Distribution Amount) ~~101~~125,~~852~~389,~~662~~427.0314 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~136~~115,~~023~~573.7978 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~136~~115,~~023~~573.7978

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 1614 0 0 0 1614 6,~~801~~940,~~989~~001.0475 0.00 0.00 0.00 6,~~801~~940,~~989~~001.0475 60 Days 10 0 0 0 10 ~~401,552~~0.2700 0.00 0.00 0.00 ~~401,552~~0.2700 90 Days 01 0 0 0 01 0401,552.0027 0.00 0.00 0.00 0401,552.0027 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 1715 0 0 0 1715 7,~~203~~341,~~541~~554.3102 0.00 0.00 0.00 7,~~203~~341,~~541~~554.3102 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 1.~~272872~~407035% 0.000000% 0.000000% 0.000000% 1.~~272872~~407035% 1.~~225137~~603285% 0.000000% 0.000000% 0.000000% 1.~~225137~~603285% 60 Days 0.~~079554~~000000% 0.000000% 0.000000% 0.000000% 0.~~079554~~000000% 0.~~072325~~000000% 0.000000% 0.000000% 0.000000% 0.~~072325~~000000% 90 Days 0.~~000000~~100503% 0.000000% 0.000000% 0.000000% 0.~~000000~~100503% 0.~~000000~~092767% 0.000000% 0.000000% 0.000000% 0.~~000000~~092767% 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 1.~~352426~~507538% 0.000000% 0.000000% 0.000000% 1.~~352426~~507538% 1.~~297462~~696052% 0.000000% 0.000000% 0.000000% 1.~~297462~~696052%

COLLATERAL STATEMENT Collateral Description Mixed Fixed Ratio Strip Weighted Average Gross Coupon 6.~~786938~~788310% Weighted Average Pass-Through Rate 6.~~536938~~538310% Weighted Average Maturity(Stepdown Calculation ) ~~343~~342 Beginning Scheduled Collateral Loan Count 1,~~485~~257 Number Of Loans Paid In Full ~~228~~262 Ending Scheduled Collateral Loan Count ~~1,257~~995 Beginning Scheduled Collateral Balance ~~652~~554,~~914~~754,~~221~~124.4032 Ending Scheduled Collateral Balance ~~554~~432,~~754~~502,~~124~~724.3252 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2003 ~~555~~432,~~202~~861,~~470~~261.4159 Monthly P &I Constant 43,~~245~~573,~~558~~133.5875 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount ~~101~~125,~~550~~123,~~052~~677.3867 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~554~~432,~~754~~502,~~124~~724.3252 Scheduled Principal ~~552~~434,~~818~~931.3919 Unscheduled Principal 97121,~~607~~816,~~278~~468.6961

Miscellaneous Reporting Senior Percentage 9695.~~023214~~323229% Subordinate Percentage 34.~~976786~~676771% Senior Prepayment Percentage 100.000000% Subordinate Prepayment Percentage 0.000000%

Filing Compare · BANC OF AMERICA FUNDING CORP MORT PAS THR CERTS SER 2003 1