8-K 1 we722073-8k.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: April 29, 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 April 29, 2003, Wells Fargo Asset Securities Corporation, a Delaware corporation (the "Registrant"), sold Mortgage Pass-Through Certificates, Series 2003-5, 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-10, Class A-11, Class A-12, Class A-13, Class A-PO, 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 $497,740,268.00. The Offered Certificates were issued pursuant to a Pooling and Servicing Agreement, dated as of April 29, 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 2003-5, Class B-4, Class B-5 and Class B-6 Certificates, having an aggregate initial principal balance of $2,501,333.20 (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 99.50% undivided interest in a trust fund (the "Trust Estate"), consisting principally of a pool of fixed interest rate, conventional, monthly pay, fully-amortizing, one-to four-family residential first mortgage loans, other than the Fixed Retained Yield (as defined in the Agreement), which may include loans secured by shares issued by cooperative housing corporations. 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 A-10, Class A-11, Class A-12, Class A-13, Class A-PO, 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 April 29, 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 April 29, 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 April 29, 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: 2003-5 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 A-PO 949778AP9 PO 0.00000% 170,977.85 0.00 190.64 A-1 949778AA2 SEQ 4.25000% 24,899,817.75 88,186.85 110,843.30 A-2 949778AB0 SEQ 4.25000% 3,978,794.04 14,091.56 668,503.51 A-3 949778AC8 SEQ 4.25000% 146,193,705.88 517,769.37 0.00 A-4 949778AD6 SEQ 1.71875% 74,399,179.98 106,561.33 324,727.84 A-5 949778AE4 SEQ 6.78125% 0.00 420,432.87 0.00 A-6 949778AF1 SEQ 5.35000% 28,738,000.00 128,123.58 0.00 A-7 949778AG9 SEQ 5.35000% 309,619.05 1,380.38 0.00 A-8 949778AH7 SEQ 13.02125% 40,974,603.99 444,617.14 3,422,836.67 A-9 949778AJ3 SEQ 0.00000% 2,109,766.71 0.00 176,240.55 A-10 949778AK0 SEQ 2.76500% 131,246,102.73 302,412.90 10,963,717.27 A-11 949778AL8 SEQ 11.00000% 928,297.05 8,509.39 77,545.82 A-12 949778AM6 SEQ 5.45000% 14,000,000.00 63,583.33 0.00 A-13 949778AN4 SEQ 20.92500% 3,713,188.21 64,748.72 310,183.27 A-R 949778AQ7 RES 5.50000% 0.00 0.00 0.00 A-LR 949778AR5 RES 5.50000% 0.00 109.31 0.00 B-1 949778AS3 SUB 5.50000% 6,496,616.36 29,776.16 6,387.26 B-2 949778AT1 SUB 5.50000% 2,999,053.10 13,745.66 2,948.57 B-3 949778AU8 SUB 5.50000% 1,749,281.14 8,017.54 1,719.84 B-4 949778AV6 SUB 5.50000% 999,018.36 4,578.83 982.20 B-5 949778AW4 SUB 5.50000% 749,263.77 3,434.13 736.65 B-6 949778AX2 SUB 5.50000% 750,595.64 3,440.23 737.96 Totals 485,405,881.61 2,223,519.28 16,068,301.35

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-PO 0.00 170,787.21 190.64 0.00 A-1 0.00 24,788,974.45 199,030.15 0.00 A-2 0.00 3,310,290.53 682,595.07 0.00 A-3 0.00 146,193,705.88 517,769.37 0.00 A-4 0.00 74,074,452.14 431,289.17 0.00 A-5 0.00 0.00 420,432.87 0.00 A-6 0.00 28,738,000.00 128,123.58 0.00 A-7 0.00 309,619.05 1,380.38 0.00 A-8 0.00 37,551,767.32 3,867,453.81 0.00 A-9 0.00 1,933,526.15 176,240.55 0.00 A-10 0.00 120,282,385.46 11,266,130.17 0.00 A-11 0.00 850,751.24 86,055.21 0.00 A-12 0.00 14,000,000.00 63,583.33 0.00 A-13 0.00 3,403,004.94 374,931.99 0.00 A-R 0.00 0.00 0.00 0.00 A-LR 0.00 0.00 109.31 0.00 B-1 0.00 6,490,229.10 36,163.42 0.00 B-2 0.00 2,996,104.53 16,694.23 0.00 B-3 0.00 1,747,561.30 9,737.38 0.00 B-4 0.00 998,036.15 5,561.03 0.00 B-5 0.00 748,527.11 4,170.78 0.00 B-6 0.00 749,857.68 4,178.19 0.02 Totals 0.00 469,337,580.24 18,291,820.63 0.02 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-PO 171,168.06 170,977.85 188.84 1.80 0.00 0.00 A-1 25,000,000.00 24,899,817.75 3,200.45 107,642.85 0.00 0.00 A-2 4,583,000.00 3,978,794.04 19,302.13 649,201.38 0.00 0.00 A-3 146,193,705.88 146,193,705.88 0.00 0.00 0.00 0.00 A-4 74,692,675.07 74,399,179.98 9,376.07 315,351.76 0.00 0.00 A-5 0.00 0.00 0.00 0.00 0.00 0.00 A-6 28,738,000.00 28,738,000.00 0.00 0.00 0.00 0.00 A-7 309,619.05 309,619.05 0.00 0.00 0.00 0.00 A-8 44,139,539.00 40,974,603.99 98,829.75 3,324,006.92 0.00 0.00 A-9 2,272,728.00 2,109,766.71 5,088.71 171,151.85 0.00 0.00 A-10 141,383,733.00 131,246,102.73 316,562.41 10,647,154.86 0.00 0.00 A-11 1,000,000.00 928,297.05 2,239.03 75,306.79 0.00 0.00 A-12 14,000,000.00 14,000,000.00 0.00 0.00 0.00 0.00 A-13 4,000,000.00 3,713,188.21 8,956.12 301,227.15 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 B-1 6,503,000.00 6,496,616.36 6,387.26 0.00 0.00 0.00 B-2 3,002,000.00 2,999,053.10 2,948.57 0.00 0.00 0.00 B-3 1,751,000.00 1,749,281.14 1,719.84 0.00 0.00 0.00 B-4 1,000,000.00 999,018.36 982.20 0.00 0.00 0.00 B-5 750,000.00 749,263.77 736.65 0.00 0.00 0.00 B-6 751,333.20 750,595.64 737.96 0.00 0.00 0.00 Totals 500,241,601.26 485,405,881.61 477,255.99 15,591,045.36 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-PO 190.64 170,787.21 0.99777499 190.64 A-1 110,843.30 24,788,974.45 0.99155898 110,843.30 A-2 668,503.51 3,310,290.53 0.72229774 668,503.51 A-3 0.00 146,193,705.88 1.00000000 0.00 A-4 324,727.84 74,074,452.14 0.99172311 324,727.84 A-5 0.00 0.00 0.00000000 0.00 A-6 0.00 28,738,000.00 1.00000000 0.00 A-7 0.00 309,619.05 1.00000000 0.00 A-8 3,422,836.67 37,551,767.32 0.85075124 3,422,836.67 A-9 176,240.55 1,933,526.15 0.85075123 176,240.55 A-10 10,963,717.27 120,282,385.46 0.85075124 10,963,717.27 A-11 77,545.82 850,751.24 0.85075124 77,545.82 A-12 0.00 14,000,000.00 1.00000000 0.00 A-13 310,183.27 3,403,004.94 0.85075124 310,183.27 A-R 0.00 0.00 0.00000000 0.00 A-LR 0.00 0.00 0.00000000 0.00 B-1 6,387.26 6,490,229.10 0.99803615 6,387.26 B-2 2,948.57 2,996,104.53 0.99803615 2,948.57 B-3 1,719.84 1,747,561.30 0.99803615 1,719.84 B-4 982.20 998,036.15 0.99803615 982.20 B-5 736.65 748,527.11 0.99803615 736.65 B-6 737.96 749,857.68 0.99803613 737.96 Totals 16,068,301.35 469,337,580.24 0.93822181 16,068,301.35

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-PO 171,168.06 998.88875296 1.10324321 0.01051598 0.00000000 A-1 25,000,000.00 995.99271000 0.12801800 4.30571400 0.00000000 A-2 4,583,000.00 868.16365699 4.21168012 141.65423958 0.00000000 A-3 146,193,705.88 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 74,692,675.07 996.07063089 0.12552864 4.22199044 0.00000000 A-5 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-6 28,738,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-7 309,619.05 1000.00000000 0.00000000 0.00000000 0.00000000 A-8 44,139,539.00 928.29705335 2.23902995 75.30678832 0.00000000 A-9 2,272,728.00 928.29705534 2.23903168 75.30678990 0.00000000 A-10 141,383,733.00 928.29705331 2.23902993 75.30678837 0.00000000 A-11 1,000,000.00 928.29705000 2.23903000 75.30679000 0.00000000 A-12 14,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-13 4,000,000.00 928.29705250 2.23903000 75.30678750 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 B-1 6,503,000.00 999.01835461 0.98220206 0.00000000 0.00000000 B-2 3,002,000.00 999.01835443 0.98220187 0.00000000 0.00000000 B-3 1,751,000.00 999.01835523 0.98220445 0.00000000 0.00000000 B-4 1,000,000.00 999.01836000 0.98220000 0.00000000 0.00000000 B-5 750,000.00 999.01836000 0.98220000 0.00000000 0.00000000 B-6 751,333.20 999.01833168 0.98220071 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-PO 0.00000000 1.11375919 997.77499377 0.99777499 1.11375919 A-1 0.00000000 4.43373200 991.55897800 0.99155898 4.43373200 A-2 0.00000000 145.86591970 722.29773729 0.72229774 145.86591970 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 0.00000000 4.34751921 991.72311168 0.99172311 4.34751921 A-5 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-8 0.00000000 77.54581827 850.75123508 0.85075124 77.54581827 A-9 0.00000000 77.54581719 850.75123376 0.85075123 77.54581719 A-10 0.00000000 77.54581830 850.75123501 0.85075124 77.54581830 A-11 0.00000000 77.54582000 850.75124000 0.85075124 77.54582000 A-12 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-13 0.00000000 77.54581750 850.75123500 0.85075124 77.54581750 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.98220206 998.03615254 0.99803615 0.98220206 B-2 0.00000000 0.98220187 998.03615256 0.99803615 0.98220187 B-3 0.00000000 0.98220445 998.03615077 0.99803615 0.98220445 B-4 0.00000000 0.98220000 998.03615000 0.99803615 0.98220000 B-5 0.00000000 0.98220000 998.03614667 0.99803615 0.98220000 B-6 0.00000000 0.98220071 998.03613097 0.99803613 0.98220071 (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-PO 171,168.06 0.00000% 170,977.85 0.00 0.00 0.00 A-1 25,000,000.00 4.25000% 24,899,817.75 88,186.85 0.00 0.00 A-2 4,583,000.00 4.25000% 3,978,794.04 14,091.56 0.00 0.00 A-3 146,193,705.88 4.25000% 146,193,705.88 517,769.37 0.00 0.00 A-4 74,692,675.07 1.71875% 74,399,179.98 106,561.33 0.00 0.00 A-5 0.00 6.78125% 74,399,179.98 420,432.87 0.00 0.00 A-6 28,738,000.00 5.35000% 28,738,000.00 128,123.58 0.00 0.00 A-7 309,619.05 5.35000% 309,619.05 1,380.38 0.00 0.00 A-8 44,139,539.00 13.02125% 40,974,603.99 444,617.14 0.00 0.00 A-9 2,272,728.00 0.00000% 2,109,766.71 0.00 0.00 0.00 A-10 141,383,733.00 2.76500% 131,246,102.73 302,412.90 0.00 0.00 A-11 1,000,000.00 11.00000% 928,297.05 8,509.39 0.00 0.00 A-12 14,000,000.00 5.45000% 14,000,000.00 63,583.33 0.00 0.00 A-13 4,000,000.00 20.92500% 3,713,188.21 64,748.72 0.00 0.00 A-R 50.00 5.50000% 0.00 0.00 0.00 0.00 A-LR 50.00 5.50000% 0.00 0.00 0.00 0.00 B-1 6,503,000.00 5.50000% 6,496,616.36 29,776.16 0.00 0.00 B-2 3,002,000.00 5.50000% 2,999,053.10 13,745.66 0.00 0.00 B-3 1,751,000.00 5.50000% 1,749,281.14 8,017.54 0.00 0.00 B-4 1,000,000.00 5.50000% 999,018.36 4,578.83 0.00 0.00 B-5 750,000.00 5.50000% 749,263.77 3,434.13 0.00 0.00 B-6 751,333.20 5.50000% 750,595.64 3,440.23 0.00 0.00 Totals 500,241,601.26 2,223,409.97 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-PO 0.00 0.00 0.00 0.00 170,787.21 A-1 0.00 0.00 88,186.85 0.00 24,788,974.45 A-2 0.00 0.00 14,091.56 0.00 3,310,290.53 A-3 0.00 0.00 517,769.37 0.00 146,193,705.88 A-4 0.00 0.00 106,561.33 0.00 74,074,452.14 A-5 0.00 0.00 420,432.87 0.00 74,074,452.14 A-6 0.00 0.00 128,123.58 0.00 28,738,000.00 A-7 0.00 0.00 1,380.38 0.00 309,619.05 A-8 0.00 0.00 444,617.14 0.00 37,551,767.32 A-9 0.00 0.00 0.00 0.00 1,933,526.15 A-10 0.00 0.00 302,412.90 0.00 120,282,385.46 A-11 0.00 0.00 8,509.39 0.00 850,751.24 A-12 0.00 0.00 63,583.33 0.00 14,000,000.00 A-13 0.00 0.00 64,748.72 0.00 3,403,004.94 A-R 0.00 0.00 0.00 0.00 0.00 A-LR 0.00 0.00 109.31 0.00 0.00 B-1 0.00 0.00 29,776.16 0.00 6,490,229.10 B-2 0.00 0.00 13,745.66 0.00 2,996,104.53 B-3 0.00 0.00 8,017.54 0.00 1,747,561.30 B-4 0.00 0.00 4,578.83 0.00 998,036.15 B-5 0.00 0.00 3,434.13 0.00 748,527.11 B-6 0.00 0.00 3,440.23 0.00 749,857.68 Totals 0.00 0.00 2,223,519.28 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-PO 171,168.06 0.00000% 998.88875296 0.00000000 0.00000000 0.00000000 A-1 25,000,000.00 4.25000% 995.99271000 3.52747400 0.00000000 0.00000000 A-2 4,583,000.00 4.25000% 868.16365699 3.07474580 0.00000000 0.00000000 A-3 146,193,705.88 4.25000% 1000.00000000 3.54166663 0.00000000 0.00000000 A-4 74,692,675.07 1.71875% 996.07063089 1.42666372 0.00000000 0.00000000 A-5 0.00 6.78125% 996.07063089 5.62883669 0.00000000 0.00000000 A-6 28,738,000.00 5.35000% 1000.00000000 4.45833322 0.00000000 0.00000000 A-7 309,619.05 5.35000% 1000.00000000 4.45831741 0.00000000 0.00000000 A-8 44,139,539.00 13.02125% 928.29705335 10.07299011 0.00000000 0.00000000 A-9 2,272,728.00 0.00000% 928.29705534 0.00000000 0.00000000 0.00000000 A-10 141,383,733.00 2.76500% 928.29705331 2.13895116 0.00000000 0.00000000 A-11 1,000,000.00 11.00000% 928.29705000 8.50939000 0.00000000 0.00000000 A-12 14,000,000.00 5.45000% 1000.00000000 4.54166643 0.00000000 0.00000000 A-13 4,000,000.00 20.92500% 928.29705250 16.18718000 0.00000000 0.00000000 A-R 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000 A-LR 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 6,503,000.00 5.50000% 999.01835461 4.57883438 0.00000000 0.00000000 B-2 3,002,000.00 5.50000% 999.01835443 4.57883411 0.00000000 0.00000000 B-3 1,751,000.00 5.50000% 999.01835523 4.57883495 0.00000000 0.00000000 B-4 1,000,000.00 5.50000% 999.01836000 4.57883000 0.00000000 0.00000000 B-5 750,000.00 5.50000% 999.01836000 4.57884000 0.00000000 0.00000000 B-6 751,333.20 5.50000% 999.01833168 4.57883400 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-PO 0.00000000 0.00000000 0.00000000 0.00000000 997.77499377 A-1 0.00000000 0.00000000 3.52747400 0.00000000 991.55897800 A-2 0.00000000 0.00000000 3.07474580 0.00000000 722.29773729 A-3 0.00000000 0.00000000 3.54166663 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 1.42666372 0.00000000 991.72311168 A-5 0.00000000 0.00000000 5.62883669 0.00000000 991.72311168 A-6 0.00000000 0.00000000 4.45833322 0.00000000 1000.00000000 A-7 0.00000000 0.00000000 4.45831741 0.00000000 1000.00000000 A-8 0.00000000 0.00000000 10.07299011 0.00000000 850.75123508 A-9 0.00000000 0.00000000 0.00000000 0.00000000 850.75123376 A-10 0.00000000 0.00000000 2.13895116 0.00000000 850.75123501 A-11 0.00000000 0.00000000 8.50939000 0.00000000 850.75124000 A-12 0.00000000 0.00000000 4.54166643 0.00000000 1000.00000000 A-13 0.00000000 0.00000000 16.18718000 0.00000000 850.75123500 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-LR 0.00000000 0.00000000 2186.20000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 4.57883438 0.00000000 998.03615254 B-2 0.00000000 0.00000000 4.57883411 0.00000000 998.03615256 B-3 0.00000000 0.00000000 4.57883495 0.00000000 998.03615077 B-4 0.00000000 0.00000000 4.57883000 0.00000000 998.03615000 B-5 0.00000000 0.00000000 4.57884000 0.00000000 998.03614667 B-6 0.00000000 0.00000000 4.57883400 0.00000000 998.03613097 (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 18,461,026.74 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 18,461,026.74 Withdrawals Reimbursement for Servicer Advances 57,952.50 Payment of Service Fee 95,373.15 Payment of Interest and Principal 18,292,403.98 Total Withdrawals (Pool Distribution Amount) 18,445,729.63 Ending Balance 15,297.11

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 9,799.45 Servicing Fee Support 9,799.45 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 101,127.50 Master Servicing Fee 4,045.10 Supported Prepayment/Curtailment Interest Shortfall 9,799.45 Net Servicing Fee 95,373.15

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 583.33 0.00 Reserve Fund 19,979.16 0.00 0.00 19,979.16 Reserve Fund 999.99 0.00 0.00 999.99

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 2 0 0 0 2 835,023.55 0.00 0.00 0.00 835,023.55 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 2 0 0 0 2 835,023.55 0.00 0.00 0.00 835,023.55 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 0.212314% 0.000000% 0.000000% 0.000000% 0.212314% 0.177555% 0.000000% 0.000000% 0.000000% 0.177555% 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 0.212314% 0.000000% 0.000000% 0.000000% 0.212314% 0.177555% 0.000000% 0.000000% 0.000000% 0.177555%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 203,383.76

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 13,757,333.20 2.75013777% 13,730,315.87 2.92546697% 97.073468% 100.000000% Class B-1 7,254,333.20 1.45016592% 7,240,086.77 1.54261817% 1.383352% 0.000000% Class B-2 4,252,333.20 0.85005589% 4,243,982.24 0.90424940% 0.638601% 0.000000% Class B-3 2,501,333.20 0.50002503% 2,496,420.94 0.53190306% 0.372482% 0.000000% Class B-4 1,501,333.20 0.30012162% 1,498,384.79 0.31925523% 0.212725% 0.000000% Class B-5 751,333.20 0.15019407% 749,857.68 0.15976937% 0.159544% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.159828% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 6.127609% Weighted Average Pass-Through Rate 5.500000% Weighted Average Maturity(Stepdown Calculation ) 353 Beginning Scheduled Collateral Loan Count 970 Number Of Loans Paid In Full 28 Ending Scheduled Collateral Loan Count 942 Beginning Scheduled Collateral Balance 485,405,881.61 Ending Scheduled Collateral Balance 469,337,580.25 Ending Actual Collateral Balance at 31-May-2003 470,289,471.94 Ending Scheduled Balance For Wells Fargo Serviced 454,407,515.81 Ending Scheduled Balance For Other Servicers 14,930,064.44 Monthly P &I Constant 2,822,336.15 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 18,215,015.65 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans 452,117,094.87 Ending scheduled Balance For discounted Loans 17,220,485.38 Scheduled Principal 477,255.99 Unscheduled Principal 15,591,045.37 Unpaid Principal Balance Of Outstanding Mortgage Loans With Original LTV: Less Than Or Equal To 80% 458,832,708.52 Greater Than 80%, less than or equal to 85% 3,866,396.37 Greater than 85%, less than or equal to 95% 6,460,813.93 Greater than 95% 198,555.69

Filing Compare · WELLS FARGO ASSET SEC CORP MORT PASS THR CERTS SER 2003-5