8-K 1 we816784-8k.txt CURRENT REPORT 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: November 29, 2004 (Date of earliest event reported) Wells Fargo Asset Securities Corporation -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 333-116509 52-1972128 ------------------------------------------------------------------------------ (State or other jurisdiction (Commission File No.) (IRS Employer of incorporation) Identification No.) 7430 New Technology Way, Frederick, Maryland 21703 -------------------------------------------------------------------------------- Address of principal executive offices (Zip Code) Registrant's Telephone Number, including area code (301) 846-8881 ---------------------------- 7485 New Horizon Way, Frederick, Maryland 21703 -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 8.01. Other Events ------------ On November 29, 2004, Wells Fargo Asset Securities Corporation, a Delaware corporation (the "Registrant"), sold Mortgage Pass-Through Certificates, Series 2004-Z, Class I-A-1, Class I-A-2, Class II-A-1, Class II-A-2, Class II-A-IO, Class II-A-R, Class B-1, Class B-2 and Class B-3 (the "Offered Certificates"), having an aggregate original principal balance of $1,289,895,100.00. The Offered Certificates were issued pursuant to a Pooling and Servicing Agreement, dated as of November 29, 2004, among the Registrant, Wells Fargo Bank, N.A., 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 2004-Z, Class B-4, Class B-5 and Class B-6 Certificates, having an aggregate initial principal balance of $10,402,750.45 (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 99.20% 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. 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 Bank 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 three REMICs for federal income tax purposes (the "Upper-Tier REMIC," "Middle-Tier REMIC" and "Lower-Tier REMIC," respectively). The Class I-A-1, Class I-A-2, Class II-A-1, Class II-A-2, Class II-A-IO, 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 II-A-R Certificate will represent the "residual interests" in the Upper-Tier REMIC, Middle-Tier REMIC and Lower-Tier REMIC. ITEM 9.01. Financial Statements and Exhibits --------------------------------- (c) Exhibits Item 601(a) of Regulation S-K Description Exhibit No. ----------- ----------- (EX-4) Pooling and Servicing Agreement, dated as of November 29, 2004, among Wells Fargo Asset Securities Corporation, Wells Fargo Bank, N.A. 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 November 29, 2004 /s/ Bradley A. Davis ----------------------------------------- Bradley A. Davis Vice President INDEX TO EXHIBITS Paper (P) or Exhibit No. Description Electronic (E) ----------- ----------- -------------- (EX-4) Pooling and Servicing Agreement, E dated as of November 29, 2004, among Wells Fargo Asset Securities Corporation, Wells Fargo Bank, N.A. and Wachovia Bank, National Association, as trustee.

Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 11/30/2004 Distribution Date: 12/27/2004 Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certificates Series 2004-Z 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 I-A-1 94980RAA5 SEN 4.66670% 289,150,000.00 1,123,815.68 1,833,811.29 I-A-2 94980RAB3 SEN 4.66670% 20,883,000.00 81,164.25 132,441.57 II-A-1 94980RAC1 SEN 4.60537% 744,753,000.00 2,856,528.23 15,882,039.63 II-A-2 94980RAD9 SEN 4.36500% 200,000,000.00 727,069.57 4,265,048.85 II-A-R 94980RAF4 SEN 4.60537% 100.00 0.38 100.00 II-A-IO 94980RAE7 SEN 0.24037% 0.00 40,037.97 0.00 B-1 94980RAG2 SUB 4.62053% 19,505,000.00 75,058.34 4,802.99 B-2 94980RAH0 SUB 4.62053% 9,753,000.00 37,531.09 2,401.62 B-3 94980RAJ6 SUB 4.62053% 5,851,000.00 22,515.58 1,440.77 B-4 94980RAK3 SUB 4.62053% 5,851,000.00 22,515.58 1,440.77 B-5 94980RAL1 SUB 4.62053% 1,951,000.00 7,507.76 480.42 B-6 94980RAM9 SUB 4.62053% 2,600,750.45 10,008.10 640.42 Totals 1,300,297,850.45 5,003,752.53 22,124,648.33

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 287,316,188.71 2,957,626.97 0.00 I-A-2 0.00 20,750,558.43 213,605.82 0.00 II-A-1 0.00 728,870,960.37 18,738,567.86 0.00 II-A-2 0.00 195,734,951.15 4,992,118.42 0.00 II-A-R 0.00 0.00 100.38 0.00 II-A-IO 0.00 0.00 40,037.97 0.00 B-1 0.00 19,500,197.01 79,861.33 0.00 B-2 0.00 9,750,598.38 39,932.71 0.00 B-3 0.00 5,849,559.23 23,956.35 0.00 B-4 0.00 5,849,559.23 23,956.35 0.00 B-5 0.00 1,950,519.58 7,988.18 0.00 B-6 0.00 2,600,110.03 10,648.52 0.00 Totals 0.00 1,278,173,202.12 27,128,400.86 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) I-A-1 289,150,000.00 289,150,000.00 15,398.44 1,818,412.84 0.00 0.00 I-A-2 20,883,000.00 20,883,000.00 1,112.11 131,329.47 0.00 0.00 II-A-1 744,753,000.00 744,753,000.00 230,558.21 15,651,481.42 0.00 0.00 II-A-2 200,000,000.00 200,000,000.00 61,915.35 4,203,133.50 0.00 0.00 II-A-R 100.00 100.00 1.45 98.55 0.00 0.00 II-A-IO 0.00 0.00 0.00 0.00 0.00 0.00 B-1 19,505,000.00 19,505,000.00 4,802.99 0.00 0.00 0.00 B-2 9,753,000.00 9,753,000.00 2,401.62 0.00 0.00 0.00 B-3 5,851,000.00 5,851,000.00 1,440.77 0.00 0.00 0.00 B-4 5,851,000.00 5,851,000.00 1,440.77 0.00 0.00 0.00 B-5 1,951,000.00 1,951,000.00 480.42 0.00 0.00 0.00 B-6 2,600,750.45 2,600,750.45 640.42 0.00 0.00 0.00 Totals 1,300,297,850.45 1,300,297,850.45 320,192.55 21,804,455.78 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 I-A-1 1,833,811.29 287,316,188.71 0.99365792 1,833,811.29 I-A-2 132,441.57 20,750,558.43 0.99365792 132,441.57 II-A-1 15,882,039.63 728,870,960.37 0.97867476 15,882,039.63 II-A-2 4,265,048.85 195,734,951.15 0.97867476 4,265,048.85 II-A-R 100.00 0.00 0.00000000 100.00 II-A-IO 0.00 0.00 0.00000000 0.00 B-1 4,802.99 19,500,197.01 0.99975376 4,802.99 B-2 2,401.62 9,750,598.38 0.99975376 2,401.62 B-3 1,440.77 5,849,559.23 0.99975376 1,440.77 B-4 1,440.77 5,849,559.23 0.99975376 1,440.77 B-5 480.42 1,950,519.58 0.99975376 480.42 B-6 640.42 2,600,110.03 0.99975376 640.42 Totals 22,124,648.33 1,278,173,202.12 0.98298494 22,124,648.33

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 289,150,000.00 1000.00000000 0.05325416 6.28882186 0.00000000 I-A-2 20,883,000.00 1000.00000000 0.05325432 6.28882201 0.00000000 II-A-1 744,753,000.00 1000.00000000 0.30957675 21.01566750 0.00000000 II-A-2 200,000,000.00 1000.00000000 0.30957675 21.01566750 0.00000000 II-A-R 100.00 1000.00000000 14.50000000 985.50000000 0.00000000 II-A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 19,505,000.00 1000.00000000 0.24624404 0.00000000 0.00000000 B-2 9,753,000.00 1000.00000000 0.24624423 0.00000000 0.00000000 B-3 5,851,000.00 1000.00000000 0.24624338 0.00000000 0.00000000 B-4 5,851,000.00 1000.00000000 0.24624338 0.00000000 0.00000000 B-5 1,951,000.00 1000.00000000 0.24624295 0.00000000 0.00000000 B-6 2,600,750.45 1000.00000000 0.24624431 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 I-A-1 0.00000000 6.34207605 993.65792395 0.99365792 6.34207605 I-A-2 0.00000000 6.34207585 993.65792415 0.99365792 6.34207585 II-A-1 0.00000000 21.32524425 978.67475575 0.97867476 21.32524425 II-A-2 0.00000000 21.32524425 978.67475575 0.97867476 21.32524425 II-A-R 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000 II-A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.24624404 999.75375596 0.99975376 0.24624404 B-2 0.00000000 0.24624423 999.75375577 0.99975376 0.24624423 B-3 0.00000000 0.24624338 999.75375662 0.99975376 0.24624338 B-4 0.00000000 0.24624338 999.75375662 0.99975376 0.24624338 B-5 0.00000000 0.24624295 999.75375705 0.99975376 0.24624295 B-6 0.00000000 0.24624431 999.75375569 0.99975376 0.24624431 (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 I-A-1 289,150,000.00 4.66670% 289,150,000.00 1,124,480.98 0.00 0.00 I-A-2 20,883,000.00 4.66670% 20,883,000.00 81,212.30 0.00 0.00 II-A-1 744,753,000.00 4.60537% 744,753,000.00 2,858,219.30 0.00 0.00 II-A-2 200,000,000.00 4.36500% 200,000,000.00 727,500.00 0.00 0.00 II-A-R 100.00 4.60537% 100.00 0.38 0.00 0.00 II-A-IO 0.00 0.24037% 200,000,000.00 40,061.67 0.00 0.00 B-1 19,505,000.00 4.62053% 19,505,000.00 75,102.78 0.00 0.00 B-2 9,753,000.00 4.62053% 9,753,000.00 37,553.31 0.00 0.00 B-3 5,851,000.00 4.62053% 5,851,000.00 22,528.91 0.00 0.00 B-4 5,851,000.00 4.62053% 5,851,000.00 22,528.91 0.00 0.00 B-5 1,951,000.00 4.62053% 1,951,000.00 7,512.20 0.00 0.00 B-6 2,600,750.45 4.62053% 2,600,750.45 10,014.03 0.00 0.00 Totals 1,300,297,850.45 5,006,714.77 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 I-A-1 665.30 0.00 1,123,815.68 0.00 287,316,188.71 I-A-2 48.05 0.00 81,164.25 0.00 20,750,558.43 II-A-1 1,691.07 0.00 2,856,528.23 0.00 728,870,960.37 II-A-2 430.43 0.00 727,069.57 0.00 195,734,951.15 II-A-R 0.00 0.00 0.38 0.00 0.00 II-A-IO 23.70 0.00 40,037.97 0.00 195,734,951.15 B-1 44.43 0.00 75,058.34 0.00 19,500,197.01 B-2 22.22 0.00 37,531.09 0.00 9,750,598.38 B-3 13.33 0.00 22,515.58 0.00 5,849,559.23 B-4 13.33 0.00 22,515.58 0.00 5,849,559.23 B-5 4.44 0.00 7,507.76 0.00 1,950,519.58 B-6 5.92 0.00 10,008.10 0.00 2,600,110.03 Totals 2,962.22 0.00 5,003,752.53 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 I-A-1 289,150,000.00 4.66670% 1000.00000000 3.88891918 0.00000000 0.00000000 I-A-2 20,883,000.00 4.66670% 1000.00000000 3.88891922 0.00000000 0.00000000 II-A-1 744,753,000.00 4.60537% 1000.00000000 3.83780837 0.00000000 0.00000000 II-A-2 200,000,000.00 4.36500% 1000.00000000 3.63750000 0.00000000 0.00000000 II-A-R 100.00 4.60537% 1000.00000000 3.80000000 0.00000000 0.00000000 II-A-IO 0.00 0.24037% 1000.00000000 0.20030835 0.00000000 0.00000000 B-1 19,505,000.00 4.62053% 1000.00000000 3.85043732 0.00000000 0.00000000 B-2 9,753,000.00 4.62053% 1000.00000000 3.85043679 0.00000000 0.00000000 B-3 5,851,000.00 4.62053% 1000.00000000 3.85043753 0.00000000 0.00000000 B-4 5,851,000.00 4.62053% 1000.00000000 3.85043753 0.00000000 0.00000000 B-5 1,951,000.00 4.62053% 1000.00000000 3.85043567 0.00000000 0.00000000 B-6 2,600,750.45 4.62053% 1000.00000000 3.85043863 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 I-A-1 0.00230088 0.00000000 3.88661830 0.00000000 993.65792395 I-A-2 0.00230091 0.00000000 3.88661830 0.00000000 993.65792415 II-A-1 0.00227065 0.00000000 3.83553773 0.00000000 978.67475575 II-A-2 0.00215215 0.00000000 3.63534785 0.00000000 978.67475575 II-A-R 0.00000000 0.00000000 3.80000000 0.00000000 0.00000000 II-A-IO 0.00011850 0.00000000 0.20018985 0.00000000 978.67475575 B-1 0.00227788 0.00000000 3.84815893 0.00000000 999.75375596 B-2 0.00227827 0.00000000 3.84815852 0.00000000 999.75375577 B-3 0.00227824 0.00000000 3.84815929 0.00000000 999.75375662 B-4 0.00227824 0.00000000 3.84815929 0.00000000 999.75375662 B-5 0.00227576 0.00000000 3.84815992 0.00000000 999.75375705 B-6 0.00227627 0.00000000 3.84815852 0.00000000 999.75375569 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 26,155,127.68 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 1,378,755.61 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 27,533,883.29 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 264,910.21 Payment of Interest and Principal 27,128,400.10 Total Withdrawals (Pool Distribution Amount) 27,393,310.31 Ending Balance 140,572.98

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 19,611.79 Servicing Fee Support 16,649.57 Non-Supported Prepayment/Curtailment Interest Shortfall 2,962.22

SERVICING FEES Gross Servicing Fee 270,730.55 Master Servicing Fee 10,829.23 Supported Prepayment/Curtailment Interest Shortfall 16,649.57 Net Servicing Fee 264,910.21

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 8 0 0 0 8 4,801,331.73 0.00 0.00 0.00 4,801,331.73 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 8 0 0 0 8 4,801,331.73 0.00 0.00 0.00 4,801,331.73 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 0.243457% 0.000000% 0.000000% 0.000000% 0.243457% 0.385949% 0.000000% 0.000000% 0.000000% 0.385949% 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 0.243457% 0.000000% 0.000000% 0.000000% 0.243457% 0.385949% 0.000000% 0.000000% 0.000000% 0.385949%

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 2 0 0 0 2 556,000.00 0.00 0.00 0.00 556,000.00 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 2 0 0 0 2 556,000.00 0.00 0.00 0.00 556,000.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.134318% 0.000000% 0.000000% 0.000000% 0.134318% 0.173945% 0.000000% 0.000000% 0.000000% 0.173945% 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 0.134318% 0.000000% 0.000000% 0.000000% 0.134318% 0.173945% 0.000000% 0.000000% 0.000000% 0.173945% 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 6 0 0 0 6 4,245,331.73 0.00 0.00 0.00 4,245,331.73 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 6 0 0 0 6 4,245,331.73 0.00 0.00 0.00 4,245,331.73 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.333890% 0.000000% 0.000000% 0.000000% 0.333890% 0.442747% 0.000000% 0.000000% 0.000000% 0.442747% 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 0.333890% 0.000000% 0.000000% 0.000000% 0.333890% 0.442747% 0.000000% 0.000000% 0.000000% 0.442747%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 191,649.38

COLLATERAL STATEMENT Collateral Description 5/1 CMT ARM Weighted Average Gross Coupon 4.880602% Weighted Average Net Coupon 4.620602% Weighted Average Pass-Through Rate 4.620602% Weighted Average Maturity(Stepdown Calculation ) 358 Beginning Scheduled Collateral Loan Count 3,329 Number Of Loans Paid In Full 43 Ending Scheduled Collateral Loan Count 3,286 Beginning Scheduled Collateral Balance 1,300,297,850.45 Ending Scheduled Collateral Balance 1,278,173,202.10 Ending Actual Collateral Balance at 30-Nov-2004 1,244,031,461.11 Monthly P &I Constant 5,606,744.80 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending scheduled Balance For discounted Loans 1,278,173,202.10 Scheduled Principal 320,192.57 Unscheduled Principal 21,804,455.78 Unpaid Principal Balance Of Outstanding Mortgage Loans With Original LTV: Less Than Or Equal To 80% 1,249,577,763.47 Greater Than 80%, less than or equal to 85% 4,243,546.85 Greater than 85%, less than or equal to 95% 23,146,541.79 Greater than 95% 890,000.00

Group Level Collateral Statement Group 1 2 Total Collateral Description 5/1 CMT ARM 5/1 CMT ARM 5/1 CMT ARM Weighted Average Coupon Rate 4.926961 4.865381 4.880602 Weighted Average Net Rate 4.666961 4.605381 4.620602 Weighted Average Maturity 358 358 358 Beginning Loan Count 1,498 1,831 3,329 Loans Paid In Full 9 34 43 Ending Loan Count 1,489 1,797 3,286 Beginning Scheduled Balance 321,278,315.00 979,019,535.00 1,300,297,850.00 Ending scheduled Balance 319,311,463.27 958,861,738.83 1,278,173,202.10 Record Date 11/30/2004 11/30/2004 11/30/2004 Principal And Interest Constant 1,334,618.69 4,272,126.11 5,606,744.80 Scheduled Principal 17,109.41 303,083.16 320,192.57 Unscheduled Principal 1,949,742.31 19,854,713.47 21,804,455.78 Scheduled Interest 1,318,798.39 3,966,513.95 5,285,312.33 Servicing Fees 66,917.44 203,813.11 270,730.55 Master Servicing Fees 2,676.70 8,152.53 10,829.23 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 1,249,204.25 3,754,548.31 5,003,752.55 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

Filing Compare · Wells Fargo Mortgage Backed Securities Series 2004-Z Trust