8-K 1 bf825105-8k.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 (Date of earliest event reported) January 28, 2005 ------------------------------- Banc of America Funding Corporation -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 333-109285 56-193-0085 -------------------------------------------------------------------------------- (State or other jurisdiction (Commission File No.) (IRS Employer of incorporation) Identification No.) 214 North Tryon Street, Charlotte, North Carolina 28255 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code (704) 386-2400 ----------------------------- -------------------------------------------------------------------------------- (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 January 28, 2005, Banc of America Funding Corporation, a Delaware corporation (the "Registrant"), sold Mortgage Pass-Through Certificates, Series 2005-1, Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-A-4, Class 1-A-5, Class 1-A-6, Class 1-A-7, Class 1-A-8, Class 1-A-9, Class 1-A-10, Class 30-IO, Class 30-PO, Class 1-A-R, Class B-1, Class B-2, and Class B-3 (the "Offered Certificates"), having an aggregate original principal balance of $198,703,087. The Offered Certificates were issued pursuant to a Pooling and Servicing Agreement, dated January 28, 2005, among the Registrant, Wells Fargo Bank, N.A., as a master servicer and securities administrator, Washington Mutual Mortgage Securities Corp., as a master servicer and representing party, and Wachovia Bank, National Association, as trustee (the "Agreement"), a copy of which is filed as an exhibit hereto. Mortgage Pass-Through Certificates, Series 2005-1, Class B-4, Class B-5 and Class B-6, having an aggregate initial principal balance of $1,502,031 (the "Private 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 99.25% undivided interest in a trust (the "Trust"), consisting principally of a pool 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 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 (each, a "REMIC"). The Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-A-4, Class 1-A-5, Class 1-A-6, Class 1-A-7, Class 1-A-8, Class 1-A-9, Class 1-A-10, Class 30-IO, Class 30-PO, Class B-1, Class B-2 and Class B-3 Certificates will be treated as "regular interests" in the REMIC and the Class 1-A-R Certificates will be treated as the "residual interest" in the REMIC. ITEM 9.01 Financial Statements and Exhibits --------------------------------- (c) Exhibits Item 601(a) of Regulation S-K Exhibit No. Description ---------------- ----------- (EX-4) Pooling and Servicing Agreement, dated January 28, 2005, among Banc of America Funding Corporation, Wells Fargo Bank, N.A., as a master servicer and securities administrator, Washington Mutual Mortgage Securities Corp, as a master servicer and representing party, 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. BANC OF AMERICA FUNDING CORPORATION January 28, 2005 By: /s/ Scott Evans ----------------------------------------- Name: Scott Evans Title: Senior Vice President INDEX TO EXHIBITS ----------------- Paper (P) or Exhibit No. Description Electronic (E) ----------- ----------- -------------- (EX-4) Pooling and Servicing Agreement, E dated January 28, 2005 among Banc of America Funding Corporation, Wells Fargo Bank, N.A., as a master servicer and securities administrator, Washington Mutual Mortgage Securities Corp., as a master servicer and representing party, and Wachovia Bank, National Association, as trustee.

Banc of America Funding Corporation Mortgage Pass-Through Certificates Record Date: 1/31/2005 Distribution Date: 2/25/2005 Banc of America Funding Corporation Mortgage Pass-Through Certificates Series 2005-1 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 1-A-1 05946XPV9 SEN 5.50000% 20,021,000.00 91,762.92 0.00 1-A-2 05946XPW7 SEN 5.50000% 1,505,000.00 6,897.92 0.00 1-A-3 05946XPX5 SEN 5.50000% 5,076,000.00 23,265.00 0.00 1-A-4 05946XPY3 SEN 5.50000% 3,619,000.00 16,587.08 0.00 1-A-5 05946XPZ0 SEN 5.50000% 2,059,000.00 9,437.08 0.00 1-A-6 05946XQA4 SEN 5.50000% 3,741,000.00 17,146.25 0.00 1-A-7 05946XQB2 SEN 5.50000% 145,293,000.00 665,926.25 1,033,701.69 1-A-8 05946XQC0 SEN 5.50000% 5,370,000.00 24,612.50 0.00 1-A-9 05946XQD8 SEN 5.50000% 5,067,000.00 23,223.75 0.00 1-A-10 05946XQE6 SEN 5.50000% 1,000,000.00 4,583.33 0.00 1-A-R 05946XQH9 SEN 5.50000% 100.00 0.46 100.00 30-IO 05946XQF3 SEN 5.50000% 0.00 47,156.44 0.00 30-PO 05946XQG1 SEN 0.00000% 445,987.00 0.00 498.74 B-1 05946XQJ5 SUB 5.50000% 3,304,000.00 15,143.33 3,307.20 B-2 05946XQK2 SUB 5.50000% 1,501,000.00 6,879.58 1,502.45 B-3 05946XQL0 SUB 5.50000% 701,000.00 3,212.92 701.68 B-4 05946XQM8 SUB 5.50000% 701,000.00 3,212.92 701.68 B-5 05946XQN6 SUB 5.50000% 500,000.00 2,291.67 500.48 B-6 05946XQP1 SUB 5.50000% 301,031.00 1,379.73 301.32 Totals 200,205,118.00 962,719.13 1,041,315.24

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A-1 0.00 20,021,000.00 91,762.92 0.00 1-A-2 0.00 1,505,000.00 6,897.92 0.00 1-A-3 0.00 5,076,000.00 23,265.00 0.00 1-A-4 0.00 3,619,000.00 16,587.08 0.00 1-A-5 0.00 2,059,000.00 9,437.08 0.00 1-A-6 0.00 3,741,000.00 17,146.25 0.00 1-A-7 0.00 144,259,298.31 1,699,627.94 0.00 1-A-8 0.00 5,370,000.00 24,612.50 0.00 1-A-9 0.00 5,067,000.00 23,223.75 0.00 1-A-10 0.00 1,000,000.00 4,583.33 0.00 1-A-R 0.00 0.00 100.46 0.00 30-IO 0.00 0.00 47,156.44 0.00 30-PO 0.00 445,488.26 498.74 0.00 B-1 0.00 3,300,692.80 18,450.53 0.00 B-2 0.00 1,499,497.55 8,382.03 0.00 B-3 0.00 700,298.32 3,914.60 0.00 B-4 0.00 700,298.32 3,914.60 0.00 B-5 0.00 499,499.52 2,792.15 0.00 B-6 0.00 300,729.68 1,681.05 0.00 Totals 0.00 199,163,802.76 2,004,034.37 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) 1-A-1 20,021,000.00 20,021,000.00 0.00 0.00 0.00 0.00 1-A-2 1,505,000.00 1,505,000.00 0.00 0.00 0.00 0.00 1-A-3 5,076,000.00 5,076,000.00 0.00 0.00 0.00 0.00 1-A-4 3,619,000.00 3,619,000.00 0.00 0.00 0.00 0.00 1-A-5 2,059,000.00 2,059,000.00 0.00 0.00 0.00 0.00 1-A-6 3,741,000.00 3,741,000.00 0.00 0.00 0.00 0.00 1-A-7 145,293,000.00 145,293,000.00 192,918.88 840,782.81 0.00 0.00 1-A-8 5,370,000.00 5,370,000.00 0.00 0.00 0.00 0.00 1-A-9 5,067,000.00 5,067,000.00 0.00 0.00 0.00 0.00 1-A-10 1,000,000.00 1,000,000.00 0.00 0.00 0.00 0.00 1-A-R 100.00 100.00 18.66 81.34 0.00 0.00 30-IO 0.00 0.00 0.00 0.00 0.00 0.00 30-PO 445,987.00 445,987.00 477.90 20.84 0.00 0.00 B-1 3,304,000.00 3,304,000.00 3,307.20 0.00 0.00 0.00 B-2 1,501,000.00 1,501,000.00 1,502.45 0.00 0.00 0.00 B-3 701,000.00 701,000.00 701.68 0.00 0.00 0.00 B-4 701,000.00 701,000.00 701.68 0.00 0.00 0.00 B-5 500,000.00 500,000.00 500.48 0.00 0.00 0.00 B-6 301,031.00 301,031.00 301.32 0.00 0.00 0.00 Totals 200,205,118.00 200,205,118.00 200,430.25 840,884.99 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 1-A-1 0.00 20,021,000.00 1.00000000 0.00 1-A-2 0.00 1,505,000.00 1.00000000 0.00 1-A-3 0.00 5,076,000.00 1.00000000 0.00 1-A-4 0.00 3,619,000.00 1.00000000 0.00 1-A-5 0.00 2,059,000.00 1.00000000 0.00 1-A-6 0.00 3,741,000.00 1.00000000 0.00 1-A-7 1,033,701.69 144,259,298.31 0.99288540 1,033,701.69 1-A-8 0.00 5,370,000.00 1.00000000 0.00 1-A-9 0.00 5,067,000.00 1.00000000 0.00 1-A-10 0.00 1,000,000.00 1.00000000 0.00 1-A-R 100.00 0.00 0.00000000 100.00 30-IO 0.00 0.00 0.00000000 0.00 30-PO 498.74 445,488.26 0.99888172 498.74 B-1 3,307.20 3,300,692.80 0.99899903 3,307.20 B-2 1,502.45 1,499,497.55 0.99899903 1,502.45 B-3 701.68 700,298.32 0.99899903 701.68 B-4 701.68 700,298.32 0.99899903 701.68 B-5 500.48 499,499.52 0.99899904 500.48 B-6 301.32 300,729.68 0.99899904 301.32 Totals 1,041,315.24 199,163,802.76 0.99479876 1,041,315.24

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A-1 20,021,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A-2 1,505,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A-3 5,076,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A-4 3,619,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A-5 2,059,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A-6 3,741,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A-7 145,293,000.00 1000.00000000 1.32779198 5.78680879 0.00000000 1-A-8 5,370,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A-9 5,067,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A-10 1,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A-R 100.00 1000.00000000 186.60000000 813.40000000 0.00000000 30-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 30-PO 445,987.00 1000.00000000 1.07155590 0.04672782 0.00000000 B-1 3,304,000.00 1000.00000000 1.00096852 0.00000000 0.00000000 B-2 1,501,000.00 1000.00000000 1.00096602 0.00000000 0.00000000 B-3 701,000.00 1000.00000000 1.00097004 0.00000000 0.00000000 B-4 701,000.00 1000.00000000 1.00097004 0.00000000 0.00000000 B-5 500,000.00 1000.00000000 1.00096000 0.00000000 0.00000000 B-6 301,031.00 1000.00000000 1.00096003 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 1-A-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A-7 0.00000000 7.11460077 992.88539923 0.99288540 7.11460077 1-A-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A-R 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000 30-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 30-PO 0.00000000 1.11828372 998.88171628 0.99888172 1.11828372 B-1 0.00000000 1.00096852 998.99903148 0.99899903 1.00096852 B-2 0.00000000 1.00096602 998.99903398 0.99899903 1.00096602 B-3 0.00000000 1.00097004 998.99902996 0.99899903 1.00097004 B-4 0.00000000 1.00097004 998.99902996 0.99899903 1.00097004 B-5 0.00000000 1.00096000 998.99904000 0.99899904 1.00096000 B-6 0.00000000 1.00096003 998.99903997 0.99899904 1.00096003 (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 1-A-1 20,021,000.00 5.50000% 20,021,000.00 91,762.92 0.00 0.00 1-A-2 1,505,000.00 5.50000% 1,505,000.00 6,897.92 0.00 0.00 1-A-3 5,076,000.00 5.50000% 5,076,000.00 23,265.00 0.00 0.00 1-A-4 3,619,000.00 5.50000% 3,619,000.00 16,587.08 0.00 0.00 1-A-5 2,059,000.00 5.50000% 2,059,000.00 9,437.08 0.00 0.00 1-A-6 3,741,000.00 5.50000% 3,741,000.00 17,146.25 0.00 0.00 1-A-7 145,293,000.00 5.50000% 145,293,000.00 665,926.25 0.00 0.00 1-A-8 5,370,000.00 5.50000% 5,370,000.00 24,612.50 0.00 0.00 1-A-9 5,067,000.00 5.50000% 5,067,000.00 23,223.75 0.00 0.00 1-A-10 1,000,000.00 5.50000% 1,000,000.00 4,583.33 0.00 0.00 1-A-R 100.00 5.50000% 100.00 0.46 0.00 0.00 30-IO 0.00 5.50000% 10,288,678.43 47,156.44 0.00 0.00 30-PO 445,987.00 0.00000% 445,987.00 0.00 0.00 0.00 B-1 3,304,000.00 5.50000% 3,304,000.00 15,143.33 0.00 0.00 B-2 1,501,000.00 5.50000% 1,501,000.00 6,879.58 0.00 0.00 B-3 701,000.00 5.50000% 701,000.00 3,212.92 0.00 0.00 B-4 701,000.00 5.50000% 701,000.00 3,212.92 0.00 0.00 B-5 500,000.00 5.50000% 500,000.00 2,291.67 0.00 0.00 B-6 301,031.00 5.50000% 301,031.00 1,379.73 0.00 0.00 Totals 200,205,118.00 962,719.13 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 1-A-1 0.00 0.00 91,762.92 0.00 20,021,000.00 1-A-2 0.00 0.00 6,897.92 0.00 1,505,000.00 1-A-3 0.00 0.00 23,265.00 0.00 5,076,000.00 1-A-4 0.00 0.00 16,587.08 0.00 3,619,000.00 1-A-5 0.00 0.00 9,437.08 0.00 2,059,000.00 1-A-6 0.00 0.00 17,146.25 0.00 3,741,000.00 1-A-7 0.00 0.00 665,926.25 0.00 144,259,298.31 1-A-8 0.00 0.00 24,612.50 0.00 5,370,000.00 1-A-9 0.00 0.00 23,223.75 0.00 5,067,000.00 1-A-10 0.00 0.00 4,583.33 0.00 1,000,000.00 1-A-R 0.00 0.00 0.46 0.00 0.00 30-IO 0.00 0.00 47,156.44 0.00 10,224,543.89 30-PO 0.00 0.00 0.00 0.00 445,488.26 B-1 0.00 0.00 15,143.33 0.00 3,300,692.80 B-2 0.00 0.00 6,879.58 0.00 1,499,497.55 B-3 0.00 0.00 3,212.92 0.00 700,298.32 B-4 0.00 0.00 3,212.92 0.00 700,298.32 B-5 0.00 0.00 2,291.67 0.00 499,499.52 B-6 0.00 0.00 1,379.73 0.00 300,729.68 Totals 0.00 0.00 962,719.13 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 1-A-1 20,021,000.00 5.50000% 1000.00000000 4.58333350 0.00000000 0.00000000 1-A-2 1,505,000.00 5.50000% 1000.00000000 4.58333555 0.00000000 0.00000000 1-A-3 5,076,000.00 5.50000% 1000.00000000 4.58333333 0.00000000 0.00000000 1-A-4 3,619,000.00 5.50000% 1000.00000000 4.58333241 0.00000000 0.00000000 1-A-5 2,059,000.00 5.50000% 1000.00000000 4.58333171 0.00000000 0.00000000 1-A-6 3,741,000.00 5.50000% 1000.00000000 4.58333333 0.00000000 0.00000000 1-A-7 145,293,000.00 5.50000% 1000.00000000 4.58333333 0.00000000 0.00000000 1-A-8 5,370,000.00 5.50000% 1000.00000000 4.58333333 0.00000000 0.00000000 1-A-9 5,067,000.00 5.50000% 1000.00000000 4.58333333 0.00000000 0.00000000 1-A-10 1,000,000.00 5.50000% 1000.00000000 4.58333000 0.00000000 0.00000000 1-A-R 100.00 5.50000% 1000.00000000 4.60000000 0.00000000 0.00000000 30-IO 0.00 5.50000% 1002.58986245 4.59520326 0.00000000 0.00000000 30-PO 445,987.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 3,304,000.00 5.50000% 1000.00000000 4.58333232 0.00000000 0.00000000 B-2 1,501,000.00 5.50000% 1000.00000000 4.58333111 0.00000000 0.00000000 B-3 701,000.00 5.50000% 1000.00000000 4.58333809 0.00000000 0.00000000 B-4 701,000.00 5.50000% 1000.00000000 4.58333809 0.00000000 0.00000000 B-5 500,000.00 5.50000% 1000.00000000 4.58334000 0.00000000 0.00000000 B-6 301,031.00 5.50000% 1000.00000000 4.58334856 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 1-A-1 0.00000000 0.00000000 4.58333350 0.00000000 1000.00000000 1-A-2 0.00000000 0.00000000 4.58333555 0.00000000 1000.00000000 1-A-3 0.00000000 0.00000000 4.58333333 0.00000000 1000.00000000 1-A-4 0.00000000 0.00000000 4.58333241 0.00000000 1000.00000000 1-A-5 0.00000000 0.00000000 4.58333171 0.00000000 1000.00000000 1-A-6 0.00000000 0.00000000 4.58333333 0.00000000 1000.00000000 1-A-7 0.00000000 0.00000000 4.58333333 0.00000000 992.88539923 1-A-8 0.00000000 0.00000000 4.58333333 0.00000000 1000.00000000 1-A-9 0.00000000 0.00000000 4.58333333 0.00000000 1000.00000000 1-A-10 0.00000000 0.00000000 4.58333000 0.00000000 1000.00000000 1-A-R 0.00000000 0.00000000 4.60000000 0.00000000 0.00000000 30-IO 0.00000000 0.00000000 4.59520326 0.00000000 996.34021240 30-PO 0.00000000 0.00000000 0.00000000 0.00000000 998.88171628 B-1 0.00000000 0.00000000 4.58333232 0.00000000 998.99903148 B-2 0.00000000 0.00000000 4.58333111 0.00000000 998.99903398 B-3 0.00000000 0.00000000 4.58333809 0.00000000 998.99902996 B-4 0.00000000 0.00000000 4.58333809 0.00000000 998.99902996 B-5 0.00000000 0.00000000 4.58334000 0.00000000 998.99904000 B-6 0.00000000 0.00000000 4.58334856 0.00000000 998.99903997 (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 2,046,916.33 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1,909.81 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2,048,826.14 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 44,791.77 Payment of Interest and Principal 2,004,034.37 Total Withdrawals (Pool Distribution Amount) 2,048,826.14 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 41,709.40 Securities Administrator Fee 2,919.66 WMMSC Master Servicing Fee 162.71 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 44,791.77

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 1 344,298.23 0.00 0.00 0.00 344,298.23 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 1 344,298.23 0.00 0.00 0.00 344,298.23 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 0.272480% 0.000000% 0.000000% 0.000000% 0.272480% 0.172734% 0.000000% 0.000000% 0.000000% 0.172734% 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 0.272480% 0.000000% 0.000000% 0.000000% 0.272480% 0.172734% 0.000000% 0.000000% 0.000000% 0.172734%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1,909.81

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 6.038872% Weighted Average Net Coupon 5.788872% Weighted Average Pass-Through Rate 5.770397% Weighted Average Maturity(Stepdown Calculation ) 356 Beginning Scheduled Collateral Loan Count 368 Number Of Loans Paid In Full 1 Ending Scheduled Collateral Loan Count 367 Beginning Scheduled Collateral Balance 200,205,118.00 Ending Scheduled Collateral Balance 199,163,803.48 Ending Actual Collateral Balance at 31-Jan-2005 199,323,112.67 Monthly P &I Constant 1,207,941.15 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 200,430.25 Unscheduled Principal 840,884.99

Miscellaneous Reporting Senior Percentage 96.491759% Senior Prepayment Percentage 100.000000% Subordinate Percentage 3.508241% Subordinate Prepayment Percentage 0.000000% CPR Percentage 4.930147%

Filing Compare · Banc of America Funding Corp. 2005-1 Trust