8-K 1 ba787723-8k.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, 2004 (Date of earliest event reported) Commission File No. 333-109285 Banc of America Funding Corporation -------------------------------------------------------------------------------- Delaware 56-193-0085 -------------------------------------------------------------------------------- (State of Incorporation) (I.R.S. Employer Identification No.) 214 North Tryon Street, Charlotte, NC 28255 -------------------------------------------------------------------------------- Address of principal executive offices (Zip Code) (704) 386-2400 -------------------------------------------------------------------------------- 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, 2004, Banc of America Funding Corporation, a Delaware corporation (the "Registrant"), sold Mortgage Pass-Through Certificates, Series 2004-1, Class 1-A-1, Class 1-A-R, Class 1-A-LR, Class 2-A-1, Class 3-A-1, Class 4-A-1, Class CB-IO, Class 5-A-1, Class 6-A-1, Class 7-A-1, Class NC-IO, Class 8-A-1, Class 8-IO, Class PO, Class B-1, Class B-2 and Class B-3 (the "Offered Certificates"), having an aggregate original principal balance of $526,830,278. The Offered Certificates were issued pursuant to a Pooling and Servicing Agreement, dated April 29, 2004, among the Registrant, Wells Fargo Home Mortgage, Inc., as servicer, Wachovia Bank, National Association, as trustee, and Wells Fargo Bank, National Association, as securities administrator (the "Agreement"), a copy of which is filed as an exhibit hereto. Mortgage Pass-Through Certificates, Series 2004-1, Class B-4, Class B-5 and Class B-6 Certificates, having an aggregate initial principal balance of $7,751,916 (the "Private Class B Certificates"), were also issued pursuant to the Agreement. In addition, Mortgage Pass-Through Certificates, Series 2004-1, Class P Certificates (the "Class P Certificates" and, together with the Offered Certificates and the Private Class B Certificates, the "Certificates"), which are entitled to any prepayment premiums, were also issued pursuant to the Agreement. As of the date of initial issuance, the Offered Certificates evidenced an approximate 98.55% undivided interest in a trust (the "Trust"), consisting principally of fixed interest rate, conventional, monthly pay, fully-amortizing, one- to four-family residential first mortgage loans. The remaining undivided interests in the Trust are evidenced by the Private Class B Certificates distributions on which 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 as a REMIC for federal income tax purposes (the "REMIC"). The Class 1-A-1, Class 2-A-1, Class 3-A-1, Class 4-A-1, Class 5-A-1, Class 6-A-1, Class 7-A-1, Class 8-A-1, Class 8-IO, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates and each Component 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 REMIC. 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 April 29, 2004, among Banc of America Funding Corporation, Wells Fargo Home Mortgage, Inc., Wachovia Bank, National Association, as trustee, and Wells Fargo Bank, National Association, as securities administrator. 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 April 29, 2004 By: /s/ Michael P. Schoffelen ------------------------------ Name: Michael P. Schoffelen Title: Senior Vice President INDEX TO EXHIBITS Paper (P) or Exhibit No. Description Electronic (E) ----------- ----------- -------------- (EX-4) Pooling and Servicing Agreement, E dated April 29, 2004 among Banc of America Funding Corporation, Wells Fargo Home Mortgage, Inc., Wachovia Bank, National Association, as trustee, and Wells Fargo Bank, National Association, as securities administrator.

Banc of America Funding Corporation Mortgage Pass-Through Certificates Record Date: 6/30/04 Distribution Date: 7/26/04 BAF Series: 2004-1 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 1A1 05946XFS7 SEN 6.00000% 22,717,393.80 113,586.93 255,876.26 1AR 05946XFT5 SEN 6.00000% 0.00 0.00 0.00 1ALR 05946XFU2 SEN 6.00000% 0.00 0.00 0.00 2A1 05946XFV0 SEN 6.00000% 54,324,009.20 271,620.09 754,643.58 3A1 05946XFW8 SEN 6.00000% 116,750,536.93 583,752.76 1,603,374.25 4A1 05946XFX6 SEN 6.00000% 139,607,546.09 698,037.90 3,723,893.38 5A1 05946XFZ1 SEN 6.00000% 39,772,762.22 198,863.79 383,775.15 6A1 05946XGA5 SEN 6.00000% 17,861,874.80 89,309.39 17,094.36 7A1 05946XGB3 SEN 6.00000% 61,601,510.13 308,007.56 3,452,058.94 8A1 05946XGD9 SEN 5.25000% 17,867,806.03 78,171.61 147,081.65 8IO 05946XGE7 IO 0.39495% 0.00 5,633.92 0.00 CBIO 05946XGF4 IO 0.56858% 0.00 123,048.30 0.00 NCIO 05946XGC1 IO 0.43821% 0.00 23,901.46 0.00 PO 05946XFY4 PO 0.00000% 11,235,655.11 0.00 150,674.51 P 05946XGN7 SEN 0.00000% 0.00 53,649.85 0.00 B1 05946XGG2 SUB 5.97279% 16,541,312.91 82,331.48 16,970.94 B2 05946XGH0 SUB 5.97279% 5,334,136.80 26,549.73 5,472.68 B3 05946XGJ6 SUB 5.97279% 5,068,677.42 25,228.45 5,200.33 B4 05946XGK3 SUB 5.97279% 2,667,567.39 13,277.35 2,736.85 B5 05946XGL1 SUB 5.97279% 1,867,197.37 9,293.65 1,915.69 B6 05946XGM9 SUB 5.97279% 3,201,396.55 15,934.39 3,285.38 Totals 516,419,382.75 2,720,198.61 10,524,053.95

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1A1 0.00 22,461,517.54 369,463.19 0.00 1AR 0.00 0.00 0.00 0.00 1ALR 0.00 0.00 0.00 0.00 2A1 0.00 53,569,365.62 1,026,263.67 0.00 3A1 0.00 115,147,162.68 2,187,127.01 0.00 4A1 0.00 135,883,652.71 4,421,931.28 0.00 5A1 0.00 39,388,987.06 582,638.94 0.00 6A1 0.00 17,844,780.45 106,403.75 0.00 7A1 0.00 58,149,451.20 3,760,066.50 0.00 8A1 0.00 17,720,724.38 225,253.26 0.00 8IO 0.00 0.00 5,633.92 0.00 CBIO 0.00 0.00 123,048.30 0.00 NCIO 0.00 0.00 23,901.46 0.00 PO 0.00 11,084,980.60 150,674.51 0.00 P 0.00 0.00 53,649.85 0.00 B1 0.00 16,524,341.97 99,302.42 0.00 B2 0.00 5,328,664.12 32,022.41 0.00 B3 0.00 5,063,477.10 30,428.78 0.00 B4 0.00 2,664,830.53 16,014.20 0.00 B5 0.00 1,865,281.68 11,209.34 0.00 B6 0.00 3,198,111.17 19,219.77 0.00 Totals 0.00 505,895,328.81 13,244,252.56 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) 1A1 23,168,000.00 22,717,393.80 19,350.84 236,525.42 0.00 0.00 1AR 50.00 0.00 0.00 0.00 0.00 0.00 1ALR 50.00 0.00 0.00 0.00 0.00 0.00 2A1 56,692,000.00 54,324,009.20 51,588.34 703,055.24 0.00 0.00 3A1 118,322,000.00 116,750,536.93 103,984.08 1,499,390.17 0.00 0.00 4A1 146,775,000.00 139,607,546.09 128,878.66 3,595,014.73 0.00 0.00 5A1 40,574,000.00 39,772,762.22 36,412.71 347,362.45 0.00 0.00 6A1 19,042,000.00 17,861,874.80 17,094.36 0.00 0.00 0.00 7A1 65,676,000.00 61,601,510.13 57,922.07 3,394,136.87 0.00 0.00 8A1 18,013,000.00 17,867,806.03 67,321.48 79,760.17 0.00 0.00 8IO 0.00 0.00 0.00 0.00 0.00 0.00 CBIO 0.00 0.00 0.00 0.00 0.00 0.00 NCIO 0.00 0.00 0.00 0.00 0.00 0.00 PO 11,569,178.00 11,235,655.11 12,834.40 137,840.11 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 B1 16,575,000.00 16,541,312.91 16,970.94 0.00 0.00 0.00 B2 5,345,000.00 5,334,136.80 5,472.68 0.00 0.00 0.00 B3 5,079,000.00 5,068,677.42 5,200.33 0.00 0.00 0.00 B4 2,673,000.00 2,667,567.39 2,736.85 0.00 0.00 0.00 B5 1,871,000.00 1,867,197.37 1,915.69 0.00 0.00 0.00 B6 3,207,916.15 3,201,396.55 3,285.38 0.00 0.00 0.00 Totals 534,582,194.15 516,419,382.75 530,968.81 9,993,085.16 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 1A1 255,876.26 22,461,517.54 0.96950611 255,876.26 1AR 0.00 0.00 0.00000000 0.00 1ALR 0.00 0.00 0.00000000 0.00 2A1 754,643.58 53,569,365.62 0.94491931 754,643.58 3A1 1,603,374.25 115,147,162.68 0.97316782 1,603,374.25 4A1 3,723,893.38 135,883,652.71 0.92579562 3,723,893.38 5A1 383,775.15 39,388,987.06 0.97079379 383,775.15 6A1 17,094.36 17,844,780.45 0.93712743 17,094.36 7A1 3,452,058.94 58,149,451.20 0.88539879 3,452,058.94 8A1 147,081.65 17,720,724.38 0.98377418 147,081.65 8IO 0.00 0.00 0.00000000 0.00 CBIO 0.00 0.00 0.00000000 0.00 NCIO 0.00 0.00 0.00000000 0.00 PO 150,674.51 11,084,980.60 0.95814764 150,674.51 P 0.00 0.00 0.00000000 0.00 B1 16,970.94 16,524,341.97 0.99694371 16,970.94 B2 5,472.68 5,328,664.12 0.99694371 5,472.68 B3 5,200.33 5,063,477.10 0.99694371 5,200.33 B4 2,736.85 2,664,830.53 0.99694371 2,736.85 B5 1,915.69 1,865,281.68 0.99694371 1,915.69 B6 3,285.38 3,198,111.17 0.99694350 3,285.38 Totals 10,524,053.95 505,895,328.81 0.94633778 10,524,053.95

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1A1 23,168,000.00 980.55049206 0.83523999 10.20914278 0.00000000 1AR 50.00 0.00000000 0.00000000 0.00000000 0.00000000 1ALR 50.00 0.00000000 0.00000000 0.00000000 0.00000000 2A1 56,692,000.00 958.23060044 0.90997566 12.40131306 0.00000000 3A1 118,322,000.00 986.71875839 0.87882287 12.67211651 0.00000000 4A1 146,775,000.00 951.16706585 0.87806956 24.49337237 0.00000000 5A1 40,574,000.00 980.25243309 0.89743949 8.56120792 0.00000000 6A1 19,042,000.00 938.02514442 0.89771873 0.00000000 0.00000000 7A1 65,676,000.00 937.96074868 0.88193663 51.68001812 0.00000000 8A1 18,013,000.00 991.93948981 3.73738300 4.42792261 0.00000000 8IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 CBIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 NCIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 PO 11,569,178.00 971.17142722 1.10936144 11.91442555 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B1 16,575,000.00 997.96759638 1.02388778 0.00000000 0.00000000 B2 5,345,000.00 997.96759588 1.02388775 0.00000000 0.00000000 B3 5,079,000.00 997.96759598 1.02388856 0.00000000 0.00000000 B4 2,673,000.00 997.96759820 1.02388702 0.00000000 0.00000000 B5 1,871,000.00 997.96759487 1.02388562 0.00000000 0.00000000 B6 3,207,916.15 997.96765261 1.02414772 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 1A1 0.00000000 11.04438277 969.50610929 0.96950611 11.04438277 1AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1ALR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2A1 0.00000000 13.31128872 944.91931172 0.94491931 13.31128872 3A1 0.00000000 13.55093939 973.16781900 0.97316782 13.55093939 4A1 0.00000000 25.37144187 925.79562398 0.92579562 25.37144187 5A1 0.00000000 9.45864716 970.79378568 0.97079379 9.45864716 6A1 0.00000000 0.89771873 937.12742622 0.93712743 0.89771873 7A1 0.00000000 52.56195475 885.39879408 0.88539879 52.56195475 8A1 0.00000000 8.16530561 983.77418420 0.98377418 8.16530561 8IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 CBIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 NCIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO 0.00000000 13.02378700 958.14764022 0.95814764 13.02378700 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B1 0.00000000 1.02388778 996.94370860 0.99694371 1.02388778 B2 0.00000000 1.02388775 996.94370814 0.99694371 1.02388775 B3 0.00000000 1.02388856 996.94370939 0.99694371 1.02388856 B4 0.00000000 1.02388702 996.94370744 0.99694371 1.02388702 B5 0.00000000 1.02388562 996.94370925 0.99694371 1.02388562 B6 0.00000000 1.02414772 996.94350490 0.99694350 1.02414772 (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 1A1 23,168,000.00 6.00000% 22,717,393.80 113,586.97 0.00 0.00 1AR 50.00 6.00000% 0.00 0.00 0.00 0.00 1ALR 50.00 6.00000% 0.00 0.00 0.00 0.00 2A1 56,692,000.00 6.00000% 54,324,009.20 271,620.05 0.00 0.00 3A1 118,322,000.00 6.00000% 116,750,536.93 583,752.68 0.00 0.00 4A1 146,775,000.00 6.00000% 139,607,546.09 698,037.73 0.00 0.00 5A1 40,574,000.00 6.00000% 39,772,762.22 198,863.81 0.00 0.00 6A1 19,042,000.00 6.00000% 17,861,874.80 89,309.37 0.00 0.00 7A1 65,676,000.00 6.00000% 61,601,510.13 308,007.55 0.00 0.00 8A1 18,013,000.00 5.25000% 17,867,806.03 78,171.65 0.00 0.00 8IO 0.00 0.39495% 17,118,020.26 5,633.92 0.00 0.00 CBIO 0.00 0.56858% 259,694,709.72 123,048.29 0.00 0.00 NCIO 0.00 0.43821% 65,451,483.78 23,901.46 0.00 0.00 PO 11,569,178.00 0.00000% 11,235,655.11 0.00 0.00 0.00 P 0.00 0.00000% 0.00 0.00 0.00 0.00 B1 16,575,000.00 5.97279% 16,541,312.91 82,331.48 0.00 0.00 B2 5,345,000.00 5.97279% 5,334,136.80 26,549.73 0.00 0.00 B3 5,079,000.00 5.97279% 5,068,677.42 25,228.45 0.00 0.00 B4 2,673,000.00 5.97279% 2,667,567.39 13,277.35 0.00 0.00 B5 1,871,000.00 5.97279% 1,867,197.37 9,293.65 0.00 0.00 B6 3,207,916.15 5.97279% 3,201,396.55 15,934.39 0.00 0.00 Totals 534,582,194.15 2,666,548.53 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 1A1 0.00 0.00 113,586.93 0.00 22,461,517.54 1AR 0.00 0.00 0.00 0.00 0.00 1ALR 0.00 0.00 0.00 0.00 0.00 2A1 0.00 0.00 271,620.09 0.00 53,569,365.62 3A1 0.00 0.00 583,752.76 0.00 115,147,162.68 4A1 0.00 0.00 698,037.90 0.00 135,883,652.71 5A1 0.00 0.00 198,863.79 0.00 39,388,987.06 6A1 0.00 0.00 89,309.39 0.00 17,844,780.45 7A1 0.00 0.00 308,007.56 0.00 58,149,451.20 8A1 0.00 0.00 78,171.61 0.00 17,720,724.38 8IO 0.00 0.00 5,633.92 0.00 17,049,532.60 CBIO 0.00 0.00 123,048.30 0.00 254,711,580.13 NCIO 0.00 0.00 23,901.46 0.00 62,771,665.32 PO 0.00 0.00 0.00 0.00 11,084,980.60 P 0.00 0.00 53,649.85 0.00 0.00 B1 0.00 0.00 82,331.48 0.00 16,524,341.97 B2 0.00 0.00 26,549.73 0.00 5,328,664.12 B3 0.00 0.00 25,228.45 0.00 5,063,477.10 B4 0.00 0.00 13,277.35 0.00 2,664,830.53 B5 0.00 0.00 9,293.65 0.00 1,865,281.68 B6 0.00 0.00 15,934.39 0.00 3,198,111.17 Totals 0.00 0.00 2,720,198.61 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 1A1 23,168,000.00 6.00000% 980.55049206 4.90275250 0.00000000 0.00000000 1AR 50.00 6.00000% 0.00000000 0.00000000 0.00000000 0.00000000 1ALR 50.00 6.00000% 0.00000000 0.00000000 0.00000000 0.00000000 2A1 56,692,000.00 6.00000% 958.23060044 4.79115307 0.00000000 0.00000000 3A1 118,322,000.00 6.00000% 986.71875839 4.93359375 0.00000000 0.00000000 4A1 146,775,000.00 6.00000% 951.16706585 4.75583533 0.00000000 0.00000000 5A1 40,574,000.00 6.00000% 980.25243309 4.90126214 0.00000000 0.00000000 6A1 19,042,000.00 6.00000% 938.02514442 4.69012551 0.00000000 0.00000000 7A1 65,676,000.00 6.00000% 937.96074868 4.68980373 0.00000000 0.00000000 8A1 18,013,000.00 5.25000% 991.93948981 4.33973519 0.00000000 0.00000000 8IO 0.00 0.39495% 992.00020986 0.32648926 0.00000000 0.00000000 CBIO 0.00 0.56858% 966.84677716 0.45811038 0.00000000 0.00000000 NCIO 0.00 0.43821% 944.59192845 0.34494445 0.00000000 0.00000000 PO 11,569,178.00 0.00000% 971.17142722 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 B1 16,575,000.00 5.97279% 997.96759638 4.96720845 0.00000000 0.00000000 B2 5,345,000.00 5.97279% 997.96759588 4.96720861 0.00000000 0.00000000 B3 5,079,000.00 5.97279% 997.96759598 4.96720811 0.00000000 0.00000000 B4 2,673,000.00 5.97279% 997.96759820 4.96720913 0.00000000 0.00000000 B5 1,871,000.00 5.97279% 997.96759487 4.96721005 0.00000000 0.00000000 B6 3,207,916.15 5.97279% 997.96765261 4.96720901 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 1A1 0.00000000 0.00000000 4.90275078 0.00000000 969.50610929 1AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1ALR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2A1 0.00000000 0.00000000 4.79115378 0.00000000 944.91931172 3A1 0.00000000 0.00000000 4.93359443 0.00000000 973.16781900 4A1 0.00000000 0.00000000 4.75583648 0.00000000 925.79562398 5A1 0.00000000 0.00000000 4.90126165 0.00000000 970.79378568 6A1 0.00000000 0.00000000 4.69012656 0.00000000 937.12742622 7A1 0.00000000 0.00000000 4.68980389 0.00000000 885.39879408 8A1 0.00000000 0.00000000 4.33973297 0.00000000 983.77418420 8IO 0.00000000 0.00000000 0.32648926 0.00000000 988.03130621 CBIO 0.00000000 0.00000000 0.45811042 0.00000000 948.29452098 NCIO 0.00000000 0.00000000 0.34494445 0.00000000 905.91694752 PO 0.00000000 0.00000000 0.00000000 0.00000000 958.14764022 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B1 0.00000000 0.00000000 4.96720845 0.00000000 996.94370860 B2 0.00000000 0.00000000 4.96720861 0.00000000 996.94370814 B3 0.00000000 0.00000000 4.96720811 0.00000000 996.94370939 B4 0.00000000 0.00000000 4.96720913 0.00000000 996.94370744 B5 0.00000000 0.00000000 4.96721005 0.00000000 996.94370925 B6 0.00000000 0.00000000 4.96720901 0.00000000 996.94350490 (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 PO-1 0.00000% 0.00 0.00 4,964.87 4,959.99 99.69829146% PO-2 0.00000% 0.00 0.00 1,726,652.79 1,713,516.58 97.78397910% PO-3 0.00000% 0.00 0.00 1,195,117.86 1,191,359.38 99.44643825% PO-4 0.00000% 0.00 0.00 3,520,191.44 3,466,848.03 94.28602281% PO-5 0.00000% 0.00 0.00 565,201.24 564,592.29 99.68172212% PO-6 0.00000% 0.00 0.00 785,937.82 785,033.98 93.76932550% PO-7 0.00000% 0.00 0.00 3,222,394.33 3,146,180.59 94.86785871% PO-8 0.00000% 0.00 0.00 215,194.76 212,489.75 97.94817485% 1-IO 0.61739% 24,092,924.90 23,835,907.26 0.00 0.00 97.10759721% 2-IO 0.57476% 34,673,105.98 34,149,497.08 0.00 0.00 93.03166963% 3-IO 0.51458% 102,953,710.14 101,479,704.96 0.00 0.00 97.12025289% 4-IO 0.61115% 97,974,968.70 95,246,470.83 0.00 0.00 92.60025540% 5-IO 0.42092% 31,921,043.66 31,545,946.96 0.00 0.00 96.45475627% 6-IO 0.27298% 6,638,862.12 6,634,342.39 0.00 0.00 99.68711312% 7-IO 0.49953% 26,891,578.00 24,591,375.97 0.00 0.00 82.16255285%

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 13,351,984.00 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 53,649.85 Total Deposits 13,405,633.85 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 161,381.29 Payment of Interest and Principal 13,244,252.56 Total Withdrawals (Pool Distribution Amount) 13,405,633.85 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 161,381.29 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 161,381.29

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 36 0 0 0 36 7,390,358.04 0.00 0.00 0.00 7,390,358.04 60 Days 6 0 0 0 6 942,181.05 0.00 0.00 0.00 942,181.05 90 Days 2 0 0 0 2 508,356.25 0.00 0.00 0.00 508,356.25 120 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 44 0 0 0 44 8,840,895.34 0.00 0.00 0.00 8,840,895.34 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 1.285714% 0.000000% 0.000000% 0.000000% 1.285714% 1.459579% 0.000000% 0.000000% 0.000000% 1.459579% 60 Days 0.214286% 0.000000% 0.000000% 0.000000% 0.214286% 0.186079% 0.000000% 0.000000% 0.000000% 0.186079% 90 Days 0.071429% 0.000000% 0.000000% 0.000000% 0.071429% 0.100399% 0.000000% 0.000000% 0.000000% 0.100399% 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 1.571429% 0.000000% 0.000000% 0.000000% 1.571429% 1.746057% 0.000000% 0.000000% 0.000000% 1.746057%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 4 0 0 0 4 666,389.30 0.00 0.00 0.00 666,389.30 60 Days 1 0 0 0 1 253,904.20 0.00 0.00 0.00 253,904.20 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 5 0 0 0 5 920,293.50 0.00 0.00 0.00 920,293.50 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.932367% 0.000000% 0.000000% 0.000000% 1.932367% 2.765873% 0.000000% 0.000000% 0.000000% 2.765873% 60 Days 0.483092% 0.000000% 0.000000% 0.000000% 0.483092% 1.053838% 0.000000% 0.000000% 0.000000% 1.053838% 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 2.415459% 0.000000% 0.000000% 0.000000% 2.415459% 3.819711% 0.000000% 0.000000% 0.000000% 3.819711% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 5 0 0 0 5 558,095.31 0.00 0.00 0.00 558,095.31 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 5 0 0 0 5 558,095.31 0.00 0.00 0.00 558,095.31 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.141553% 0.000000% 0.000000% 0.000000% 1.141553% 0.939791% 0.000000% 0.000000% 0.000000% 0.939791% 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 1.141553% 0.000000% 0.000000% 0.000000% 1.141553% 0.939791% 0.000000% 0.000000% 0.000000% 0.939791% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3 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 10 0 0 0 10 1,878,285.47 0.00 0.00 0.00 1,878,285.47 60 Days 2 0 0 0 2 291,597.78 0.00 0.00 0.00 291,597.78 90 Days 1 0 0 0 1 186,062.06 0.00 0.00 0.00 186,062.06 120 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 13 0 0 0 13 2,355,945.31 0.00 0.00 0.00 2,355,945.31 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.222494% 0.000000% 0.000000% 0.000000% 1.222494% 1.506013% 0.000000% 0.000000% 0.000000% 1.506013% 60 Days 0.244499% 0.000000% 0.000000% 0.000000% 0.244499% 0.233804% 0.000000% 0.000000% 0.000000% 0.233804% 90 Days 0.122249% 0.000000% 0.000000% 0.000000% 0.122249% 0.149185% 0.000000% 0.000000% 0.000000% 0.149185% 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 1.589242% 0.000000% 0.000000% 0.000000% 1.589242% 1.889002% 0.000000% 0.000000% 0.000000% 1.889002% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4 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 2,096,629.38 0.00 0.00 0.00 2,096,629.38 60 Days 3 0 0 0 3 396,679.07 0.00 0.00 0.00 396,679.07 90 Days 1 0 0 0 1 322,294.19 0.00 0.00 0.00 322,294.19 120 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 16 0 0 0 16 2,815,602.64 0.00 0.00 0.00 2,815,602.64 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.310044% 0.000000% 0.000000% 0.000000% 1.310044% 1.398797% 0.000000% 0.000000% 0.000000% 1.398797% 60 Days 0.327511% 0.000000% 0.000000% 0.000000% 0.327511% 0.264650% 0.000000% 0.000000% 0.000000% 0.264650% 90 Days 0.109170% 0.000000% 0.000000% 0.000000% 0.109170% 0.215023% 0.000000% 0.000000% 0.000000% 0.215023% 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 1.746725% 0.000000% 0.000000% 0.000000% 1.746725% 1.878471% 0.000000% 0.000000% 0.000000% 1.878471% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 5 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 2 730,494.61 0.00 0.00 0.00 730,494.61 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 2 730,494.61 0.00 0.00 0.00 730,494.61 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.083333% 0.000000% 0.000000% 0.000000% 2.083333% 1.705087% 0.000000% 0.000000% 0.000000% 1.705087% 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 2.083333% 0.000000% 0.000000% 0.000000% 2.083333% 1.705087% 0.000000% 0.000000% 0.000000% 1.705087% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 6 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 7 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 3 0 0 0 3 1,460,463.97 0.00 0.00 0.00 1,460,463.97 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 3 0 0 0 3 1,460,463.97 0.00 0.00 0.00 1,460,463.97 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.205882% 0.000000% 0.000000% 0.000000% 2.205882% 2.208360% 0.000000% 0.000000% 0.000000% 2.208360% 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 2.205882% 0.000000% 0.000000% 0.000000% 2.205882% 2.208360% 0.000000% 0.000000% 0.000000% 2.208360% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 8 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%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 56,139.81

COLLATERAL STATEMENT Collateral Description Fixed Weighted Average Gross Coupon 6.571240% Weighted Average Pass-Through Rate 6.196240% Weighted Average Maturity(Stepdown Calculation) 345 Beginning Scheduled Collateral Loan Count 2,847 Number Of Loans Paid In Full 47 Ending Scheduled Collateral Loan Count 2,800 Beginning Scheduled Collateral Balance 516,419,381.93 Ending Scheduled Collateral Balance 505,895,328.82 Ending Actual Collateral Balance at 30-Jun-2004 506,334,959.03 Monthly P &I Constant 3,360,926.41 Special Servicing Fee 0.00 Prepayment Penalties 53,649.85 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Non-PO Optimal Amount 12,681,056.57 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans 505,895,328.82 Scheduled Principal 532,996.62 Unscheduled Principal 9,991,056.49

Miscellaneous Reporting Total Senior Percentage 93.135114% Aggregate Subordinate Percentage 6.864886%

Group Level Collateral Statement Group 1 2 3 Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 6.985118 6.534198 6.737856 Weighted Average Net Rate 6.610118 6.159198 6.362856 Weighted Average Maturity 353 350 353 Beginning Loan Count 209 444 826 Loans Paid In Full 2 6 8 Ending Loan Count 207 438 818 Beginning Scheduled Balance 24,331,253.25 60,106,494.49 126,239,882.58 Ending scheduled Balance 24,074,001.65 59,334,863.12 124,625,362.58 Record Date 06/30/2004 06/30/2004 06/30/2004 Principal And Interest Constant 162,356.73 384,644.43 821,438.88 Scheduled Principal 20,726.17 57,354.64 112,617.05 Unscheduled Principal 236,525.43 714,276.73 1,501,902.95 Scheduled Interest 141,630.56 327,289.79 708,821.83 Servicing Fees 7,603.52 18,783.29 39,449.95 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 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 134,027.04 308,506.50 669,371.88 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 6.610118 6.159198 6.362856

Group Level Collateral Statement Group 4 5 6 Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 6.627370 6.607561 6.230032 Weighted Average Net Rate 6.252370 6.232561 5.855032 Weighted Average Maturity 351 353 349 Beginning Loan Count 938 97 44 Loans Paid In Full 22 1 0 Ending Loan Count 916 96 44 Beginning Scheduled Balance 153,568,002.86 43,193,297.47 20,027,349.04 Ending scheduled Balance 149,781,128.14 42,806,299.25 20,007,873.91 Record Date 06/30/2004 06/30/2004 06/30/2004 Principal And Interest Constant 990,552.71 277,449.06 125,457.79 Scheduled Principal 142,426.02 39,613.77 21,481.93 Unscheduled Principal 3,644,448.70 347,384.45 (2,006.80) Scheduled Interest 848,126.69 237,835.29 103,975.86 Servicing Fees 47,990.01 13,497.90 6,258.55 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 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 800,136.68 224,337.39 97,717.31 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 6.252370 6.232561 5.855032

Group Level Collateral Statement Group 7 8 Total Collateral Description Fixed 30 Year Fixed 15 Year Fixed Weighted Average Coupon Rate 6.290227 5.916133 6.571240 Weighted Average Net Rate 5.915227 5.541133 6.196240 Weighted Average Maturity 352.00 171.00 345.00 Record Date 06/30/2004 06/30/2004 06/30/2004 Principal And Interest Constant 430,749.14 168,277.67 3,360,926.41 Beginning Loan Count 143 146 2,847 Loans Paid In Full 7 1 47 Ending Loan Count 136 145 2,800 Beginning Scheduled Balance 69,611,850.86 19,341,251.38 516,419,381.93 Ending Scheduled Balance 66,079,076.22 19,186,723.95 505,895,328.82 Scheduled Principal 65,853.88 72,923.16 532,996.62 Unscheduled Principal 3,466,920.76 81,604.27 9,991,056.49 Scheduled Interest 364,895.26 95,354.51 2,827,929.79 Servicing Fee 21,753.70 6,044.14 161,381.06 Master Servicing Fee 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 Fry Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 343,141.56 89,310.37 2,666,548.73 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 5.915227 5.541133 6.196240

Miscellaneous Reporting Group 1 CPR 11.070279% Subordinate Percentage 6.613809% Subordinate Prepayment Percentage 0.000000% Senior Prepayment Percentage 100.000000% Senior Percentage 93.386191% Group 2 CPR 13.376077% Subordinate Percentage 6.947316% Subordinate Prepayment Percentage 0.000000% Senior Prepayment Percentage 100.000000% Senior Percentage 93.052684% Group 3 CPR 13.389717% Subordinate Percentage 6.633006% Subordinate Prepayment Percentage 0.000000% Senior Prepayment Percentage 100.000000% Senior Percentage 93.366994%

Miscellaneous Reporting Group 4 CPR 25.060293% Subordinate Percentage 6.957959% Subordinate Prepayment Percentage 0.000000% Senior Prepayment Percentage 100.000000% Senior Percentage 93.042041% Group 5 CPR 9.243506% Subordinate Percentage 6.698242% Subordinate Prepayment Percentage 0.000000% Senior Prepayment Percentage 100.000000% Senior Percentage 93.301758% Group 6 CPR -0.120439% Subordinate Percentage 7.169620% Subordinate Prepayment Percentage 0.000000% Senior Prepayment Percentage 100.000000% Senior Percentage 92.830380%

Miscellaneous Reporting Group 7 CPR 45.862037% Subordinate Percentage 7.211907% Subordinate Prepayment Percentage 0.000000% Senior Prepayment Percentage 100.000000% Senior Percentage 92.788093% Group 8 CPR 4.965455% Subordinate Percentage 6.578722% Subordinate Prepayment Percentage 0.000000% Senior Prepayment Percentage 100.000000% Senior Percentage 93.421278%

Filing Compare · Banc of America Funding Corp. Mortgage Pass-Through Certificates Series 2004-1