8-K 1 we721206-8k.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, 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 January 30, 2003, Wells Fargo Asset Securities Corporation, a Delaware corporation (the "Registrant"), sold Mortgage Pass-Through Certificates, Series 2003-C, 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-R, Class A-LR, Class B-1, Class B-2 and Class B-3 (the "Offered Certificates"), having an aggregate original principal balance of $432,529,050.00. The Offered Certificates were issued pursuant to a Pooling and Servicing Agreement, dated as of January 30, 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-C, Class B-4, Class B-5 and Class B-6 Certificates, having an aggregate initial principal balance of $1,955,806.37 (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 99.55% undivided interest in a trust fund (the "Trust Estate"), consisting principally of a pool of adjustable interest rate, conventional, monthly pay, fully-amortizing, one-to four-family residential first mortgage loans, which may include loans secured by shares issued by cooperative housing corporations. 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). 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 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 January 30, 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 January 30, 2003 /s/ Patrick Greene --------------------------------------- Patrick Greene Vice President INDEX TO EXHIBITS ----------------- Paper (P) or Exhibit No. Description Electronic (E) ----------- ----------- -------------- (EX-4) Pooling and Servicing E Agreement, dated as of January 30, 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: 5/31/03 Distribution Date: 6/25/03 WFMBS Series: 2003-C 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 94980EAA4 SEQ 2.45500% 28,432,488.95 58,166.50 19,166,534.57 A-2 94980EAB2 SEQ 3.60800% 50,717,000.00 152,484.83 0.00 A-3 94980EAC0 SEQ 4.19500% 77,207,000.00 269,895.22 0.00 A-4 94980EAD8 SEQ 4.17100% 57,694,000.00 200,529.09 0.00 A-5 94980EAE6 SEQ 4.85978% 79,020,224.39 320,008.55 7,075,638.41 A-6 94980EAF3 SEQ 4.61578% 63,477,537.70 244,158.52 5,683,913.30 A-7 94980EAG1 SEQ 4.85978% 888,685.53 3,598.91 79,574.79 A-8 94980EAH9 SEQ 1.04146% 0.00 185,765.55 0.00 A-9 94980EAJ5 SEQ 0.24400% 0.00 12,906.74 0.00 A-R 94980EAK2 SEQ 4.85190% 0.00 0.00 0.00 ALR 94980EAL0 SEQ 4.85190% 0.00 0.00 0.00 B-1 94980EAM8 SUB 4.85978% 7,136,698.90 28,901.52 7,826.64 B-2 94980EAN6 SUB 4.85978% 1,946,191.43 7,881.50 2,134.34 B-3 94980EAP1 SUB 4.85978% 1,081,106.85 4,378.16 1,185.62 B-4 94980EAQ9 SUB 4.85978% 865,084.58 3,503.34 948.72 B-5 94980EAR7 SUB 4.85978% 433,040.04 1,753.68 474.90 B-6 94980EAS5 SUB 4.85978% 648,869.55 2,627.73 711.60 Totals 369,547,927.92 1,496,559.84 32,018,942.89

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 9,265,954.38 19,224,701.07 0.00 A-2 0.00 50,717,000.00 152,484.83 0.00 A-3 0.00 77,207,000.00 269,895.22 0.00 A-4 0.00 57,694,000.00 200,529.09 0.00 A-5 0.00 71,944,585.98 7,395,646.96 0.00 A-6 0.00 57,793,624.40 5,928,071.82 0.00 A-7 0.00 809,110.74 83,173.70 0.00 A-8 0.00 0.00 185,765.55 0.00 A-9 0.00 0.00 12,906.74 0.00 A-R 0.00 0.00 0.00 0.00 ALR 0.00 0.00 0.00 0.00 B-1 0.00 7,128,872.27 36,728.16 0.00 B-2 0.00 1,944,057.09 10,015.84 0.00 B-3 0.00 1,079,921.23 5,563.78 0.00 B-4 0.00 864,135.86 4,452.06 0.00 B-5 0.00 432,565.13 2,228.58 0.00 B-6 0.00 648,157.95 3,339.33 81.86 Totals 0.00 337,528,985.03 33,515,502.73 81.86 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 67,287,000.00 28,432,488.95 234,743.71 18,931,790.86 0.00 0.00 A-2 50,717,000.00 50,717,000.00 0.00 0.00 0.00 0.00 A-3 77,207,000.00 77,207,000.00 0.00 0.00 0.00 0.00 A-4 57,694,000.00 57,694,000.00 0.00 0.00 0.00 0.00 A-5 93,364,000.00 79,020,224.39 86,659.46 6,988,978.95 0.00 0.00 A-6 75,000,000.00 63,477,537.70 69,614.20 5,614,299.10 0.00 0.00 A-7 1,050,000.00 888,685.53 974.60 78,600.19 0.00 0.00 A-8 0.00 0.00 0.00 0.00 0.00 0.00 A-9 0.00 0.00 0.00 0.00 0.00 0.00 A-R 25.00 0.00 0.00 0.00 0.00 0.00 ALR 25.00 0.00 0.00 0.00 0.00 0.00 B-1 7,169,000.00 7,136,698.90 7,826.64 0.00 0.00 0.00 B-2 1,955,000.00 1,946,191.43 2,134.34 0.00 0.00 0.00 B-3 1,086,000.00 1,081,106.85 1,185.62 0.00 0.00 0.00 B-4 869,000.00 865,084.58 948.72 0.00 0.00 0.00 B-5 435,000.00 433,040.04 474.90 0.00 0.00 0.00 B-6 651,806.37 648,869.55 711.60 0.00 0.00 0.00 Totals 434,484,856.37 369,547,927.92 405,273.79 31,613,669.10 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 19,166,534.57 9,265,954.38 0.13770794 19,166,534.57 A-2 0.00 50,717,000.00 1.00000000 0.00 A-3 0.00 77,207,000.00 1.00000000 0.00 A-4 0.00 57,694,000.00 1.00000000 0.00 A-5 7,075,638.41 71,944,585.98 0.77058166 7,075,638.41 A-6 5,683,913.30 57,793,624.40 0.77058166 5,683,913.30 A-7 79,574.79 809,110.74 0.77058166 79,574.79 A-8 0.00 0.00 0.00000000 0.00 A-9 0.00 0.00 0.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 ALR 0.00 0.00 0.00000000 0.00 B-1 7,826.64 7,128,872.27 0.99440260 7,826.64 B-2 2,134.34 1,944,057.09 0.99440260 2,134.34 B-3 1,185.62 1,079,921.23 0.99440261 1,185.62 B-4 948.72 864,135.86 0.99440260 948.72 B-5 474.90 432,565.13 0.99440260 474.90 B-6 711.60 648,157.95 0.99440260 711.60 Totals 32,018,942.89 337,528,985.03 0.77684868 32,018,942.89

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 67,287,000.00 422.55545573 3.48869336 281.35881909 0.00000000 A-2 50,717,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 77,207,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 57,694,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-5 93,364,000.00 846.36716925 0.92818924 74.85732134 0.00000000 A-6 75,000,000.00 846.36716933 0.92818933 74.85732133 0.00000000 A-7 1,050,000.00 846.36717143 0.92819048 74.85732381 0.00000000 A-8 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-9 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-R 25.00 0.00000000 0.00000000 0.00000000 0.00000000 ALR 25.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 7,169,000.00 995.49433673 1.09173385 0.00000000 0.00000000 B-2 1,955,000.00 995.49433760 1.09173402 0.00000000 0.00000000 B-3 1,086,000.00 995.49433702 1.09173112 0.00000000 0.00000000 B-4 869,000.00 995.49433832 1.09173763 0.00000000 0.00000000 B-5 435,000.00 995.49434483 1.09172414 0.00000000 0.00000000 B-6 651,806.37 995.49433676 1.09173526 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-1 0.00000000 284.84751245 137.70794329 0.13770794 284.84751245 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-5 0.00000000 75.78551058 770.58165867 0.77058166 75.78551058 A-6 0.00000000 75.78551067 770.58165867 0.77058166 75.78551067 A-7 0.00000000 75.78551429 770.58165714 0.77058166 75.78551429 A-8 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-9 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 ALR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1.09173385 994.40260427 0.99440260 1.09173385 B-2 0.00000000 1.09173402 994.40260358 0.99440260 1.09173402 B-3 0.00000000 1.09173112 994.40260589 0.99440261 1.09173112 B-4 0.00000000 1.09173763 994.40260069 0.99440260 1.09173763 B-5 0.00000000 1.09172414 994.40259770 0.99440260 1.09172414 B-6 0.00000000 1.09173526 994.40260150 0.99440260 1.09173526 (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 67,287,000.00 2.45500% 28,432,488.95 58,168.13 0.00 0.00 A-2 50,717,000.00 3.60800% 50,717,000.00 152,489.11 0.00 0.00 A-3 77,207,000.00 4.19500% 77,207,000.00 269,902.80 0.00 0.00 A-4 57,694,000.00 4.17100% 57,694,000.00 200,534.73 0.00 0.00 A-5 93,364,000.00 4.85978% 79,020,224.39 320,017.54 0.00 0.00 A-6 75,000,000.00 4.61578% 63,477,537.70 244,165.38 0.00 0.00 A-7 1,050,000.00 4.85978% 888,685.53 3,599.01 0.00 0.00 A-8 0.00 1.04146% 214,050,488.95 185,770.77 0.00 0.00 A-9 0.00 0.24400% 63,477,537.70 12,907.10 0.00 0.00 A-R 25.00 4.85190% 0.00 0.00 0.00 0.00 ALR 25.00 4.85190% 0.00 0.00 0.00 0.00 B-1 7,169,000.00 4.85978% 7,136,698.90 28,902.33 0.00 0.00 B-2 1,955,000.00 4.85978% 1,946,191.43 7,881.72 0.00 0.00 B-3 1,086,000.00 4.85978% 1,081,106.85 4,378.29 0.00 0.00 B-4 869,000.00 4.85978% 865,084.58 3,503.44 0.00 0.00 B-5 435,000.00 4.85978% 433,040.04 1,753.73 0.00 0.00 B-6 651,806.37 4.85978% 648,869.55 2,627.80 0.00 0.00 Totals 434,484,856.37 1,496,601.88 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 1.63 0.00 58,166.50 0.00 9,265,954.38 A-2 4.28 0.00 152,484.83 0.00 50,717,000.00 A-3 7.58 0.00 269,895.22 0.00 77,207,000.00 A-4 5.63 0.00 200,529.09 0.00 57,694,000.00 A-5 8.99 0.00 320,008.55 0.00 71,944,585.98 A-6 6.86 0.00 244,158.52 0.00 57,793,624.40 A-7 0.10 0.00 3,598.91 0.00 809,110.74 A-8 5.22 0.00 185,765.55 0.00 194,883,954.38 A-9 0.36 0.00 12,906.74 0.00 57,793,624.40 A-R 0.00 0.00 0.00 0.00 0.00 ALR 0.00 0.00 0.00 0.00 0.00 B-1 0.81 0.00 28,901.52 0.00 7,128,872.27 B-2 0.22 0.00 7,881.50 0.00 1,944,057.09 B-3 0.12 0.00 4,378.16 0.00 1,079,921.23 B-4 0.10 0.00 3,503.34 0.00 864,135.86 B-5 0.05 0.00 1,753.68 0.00 432,565.13 B-6 0.07 0.00 2,627.73 0.00 648,157.95 Totals 42.02 0.00 1,496,559.84 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 67,287,000.00 2.45500% 422.55545573 0.86447798 0.00000000 0.00000000 A-2 50,717,000.00 3.60800% 1000.00000000 3.00666660 0.00000000 0.00000000 A-3 77,207,000.00 4.19500% 1000.00000000 3.49583328 0.00000000 0.00000000 A-4 57,694,000.00 4.17100% 1000.00000000 3.47583336 0.00000000 0.00000000 A-5 93,364,000.00 4.85978% 846.36716925 3.42763313 0.00000000 0.00000000 A-6 75,000,000.00 4.61578% 846.36716933 3.25553840 0.00000000 0.00000000 A-7 1,050,000.00 4.85978% 846.36717143 3.42762857 0.00000000 0.00000000 A-8 0.00 1.04146% 846.36716929 0.73454764 0.00000000 0.00000000 A-9 0.00 0.24400% 846.36716933 0.17209467 0.00000000 0.00000000 A-R 25.00 4.85190% 0.00000000 0.00000000 0.00000000 0.00000000 ALR 25.00 4.85190% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 7,169,000.00 4.85978% 995.49433673 4.03157065 0.00000000 0.00000000 B-2 1,955,000.00 4.85978% 995.49433760 4.03157033 0.00000000 0.00000000 B-3 1,086,000.00 4.85978% 995.49433702 4.03157459 0.00000000 0.00000000 B-4 869,000.00 4.85978% 995.49433832 4.03157652 0.00000000 0.00000000 B-5 435,000.00 4.85978% 995.49434483 4.03156322 0.00000000 0.00000000 B-6 651,806.37 4.85978% 995.49433676 4.03156539 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 0.00002422 0.00000000 0.86445376 0.00000000 137.70794329 A-2 0.00008439 0.00000000 3.00658221 0.00000000 1000.00000000 A-3 0.00009818 0.00000000 3.49573510 0.00000000 1000.00000000 A-4 0.00009758 0.00000000 3.47573561 0.00000000 1000.00000000 A-5 0.00009629 0.00000000 3.42753685 0.00000000 770.58165867 A-6 0.00009147 0.00000000 3.25544693 0.00000000 770.58165867 A-7 0.00009524 0.00000000 3.42753333 0.00000000 770.58165714 A-8 0.00002064 0.00000000 0.73452700 0.00000000 770.58165865 A-9 0.00000480 0.00000000 0.17208987 0.00000000 770.58165867 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 ALR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00011299 0.00000000 4.03145766 0.00000000 994.40260427 B-2 0.00011253 0.00000000 4.03145780 0.00000000 994.40260358 B-3 0.00011050 0.00000000 4.03145488 0.00000000 994.40260589 B-4 0.00011507 0.00000000 4.03146145 0.00000000 994.40260069 B-5 0.00011494 0.00000000 4.03144828 0.00000000 994.40259770 B-6 0.00010739 0.00000000 4.03145799 0.00000000 994.40260150 (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 33,707,295.62 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 33,707,295.62 Withdrawals Reimbursement for Servicer Advances 28,036.36 Payment of Service Fee 106,289.25 Payment of Interest and Principal 33,515,502.73 Total Withdrawals (Pool Distribution Amount) 33,649,828.34 Ending Balance 57,467.28

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 12,315.93 Servicing Fee Support 12,273.91 Non-Supported Prepayment/Curtailment Interest Shortfall 42.02

SERVICING FEES Gross Servicing Fee 115,483.60 Master Servicing Fee 3,079.56 Supported Prepayment/Curtailment Interest Shortfall 12,273.91 Net Servicing Fee 106,289.25

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 1 391,043.45 0.00 0.00 0.00 391,043.45 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 1 391,043.45 0.00 0.00 0.00 391,043.45 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 0.140252% 0.000000% 0.000000% 0.000000% 0.140252% 0.112074% 0.000000% 0.000000% 0.000000% 0.112074% 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 0.140252% 0.000000% 0.000000% 0.000000% 0.140252% 0.112074% 0.000000% 0.000000% 0.000000% 0.112074%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 57,929.48

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 12,165,806.37 2.80005303% 12,097,709.53 3.58419871% 96.415801% 100.000000% Class B-1 4,996,806.37 1.15005306% 4,968,837.26 1.47212165% 2.112077% 0.000000% Class B-2 3,041,806.37 0.70009491% 3,024,780.17 0.89615420% 0.575967% 0.000000% Class B-3 1,955,806.37 0.45014374% 1,944,858.94 0.57620502% 0.319949% 0.000000% Class B-4 1,086,806.37 0.25013677% 1,080,723.08 0.32018675% 0.256018% 0.000000% Class B-5 651,806.37 0.15001820% 648,157.95 0.19203031% 0.128156% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.192030% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description 5 Year LIBOR Arm Weighted Average Gross Coupon 5.244651% Weighted Average Net Coupon 4.859651% Weighted Average Pass-Through Rate 4.859651% Weighted Average Maturity(Stepdown Calculation ) 354 Beginning Scheduled Collateral Loan Count 776 Number Of Loans Paid In Full 63 Ending Scheduled Collateral Loan Count 713 Beginning Scheduled Collateral Balance 369,547,927.91 Ending Scheduled Collateral Balance 337,528,985.03 Ending Actual Collateral Balance at 31-May-2003 348,915,957.86 Monthly P &I Constant 2,057,583.39 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 33,453,215.65 Ending Scheduled Balance for Premium Loans 337,528,985.03 Scheduled Principal 405,273.78 Unscheduled Principal 31,613,669.10 Unpaid Principal Balance Of Outstanding Mortgage Loans With Original LTV: Less Than Or Equal To 80% 330,079,184.83 Greater Than 80%, less than or equal to 85% 422,895.71 Greater than 85%, less than or equal to 95% 7,011,745.32 Greater than 95% 0.00

Filing Compare · WELLS FARGO ASSET SEC CORP MORT PA THR CERT SERIES 2003-C