8-K 1 baf03001.txt NOVEMBER 8K 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): November 20, 2003 BANC OF AMERICA FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-38154-03 54-2120447 Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On November 20, 2003 a distribution was made to holders of BANC OF AMERICA FUNDING CORPORATION, Mortgage Pass-Through Certificates, Series 2003-1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the November 20, 2003 distribution. 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 Mortgage Pass-Through Certificates, Series 2003-1 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 11/20/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the November 20, 2003 distribution. EX-99.1

Banc of America Funding Corporation Mortgage Pass-Through Certificates Record Date: 910/3031/03 Distribution Date: 1011/20/03 BAF Series: 2003-1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 05946XBV4 SEQ 6.00000% ~~406~~339,~~286~~959,~~642~~865.4152 21,~~031~~699,~~282~~649.1785 6636,~~326~~473,~~776~~755.8956 A-R 05946XBW2 SEQ 6.00000% 0.00 0.00 0.00 A-PO 05946XBY8 PO 0.00000% ~~306~~305,~~161~~695.9112 0.00 ~~466~~460.7968 A-WIO 05946XBX0 IO 0.~~54897~~54280% 0.00 ~~195~~163,~~560~~351.6374 0.00 B-1 05946XBZ5 SUB 6.00000% 13,~~208~~197,~~987~~592.7067 6665,~~040~~982.0316 1112,~~395~~153.0415 B-2 05946XCA9 SUB 6.00000% 4,~~571~~568,~~958~~014.8877 22,~~858~~838.0907 34,~~944~~206.1151 B-3 05946XCB7 SUB 6.00000% 3,~~556~~553,~~189~~121.3249 17,~~779~~764.6205 3,~~067~~271.8393 B-4 05946XCC5 SUB 6.00000% 1,~~524~~523,~~650~~334.1992 7,~~622~~616.6800 1,~~315~~402.2778 B-5 05946XCD3 SUB 6.00000% 1,~~523~~522,~~654~~339.3493 7,~~617~~611.7103 1,~~314~~401.4286 B-6 05946XCE1 SUB 6.00000% 1,~~524~~523,~~478~~163.9178 7,~~621~~615.8315 1,~~315~~402.1362 Totals ~~432~~366,~~502~~153,~~723~~128.6620 21,~~356~~992,~~382~~428.7605 6636,~~349~~498,~~595~~055.4809

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~339~~303,~~959~~486,~~865~~109.5295 6838,~~358~~173,~~059~~405.0641 0.00 A-R 0.00 0.00 0.00 0.00 A-PO 0.00 305,~~695~~234.1244 ~~466~~460.7968 0.00 A-WIO 0.00 0.00 ~~195~~163,~~560~~351.6374 0.00 B-1 0.00 13,~~197~~185,~~592~~439.6752 7778,~~435~~135.0731 0.00 B-2 0.00 4,~~568~~563,~~014~~808.77 26 27,~~802~~044.2058 0.00 B-3 0.00 3,~~553~~549,~~121~~849.4956 2021,~~847~~035.4598 0.00 B-4 0.00 1,~~523~~521,~~334~~932.9214 89,~~937~~018.9578 0.00 B-5 0.00 1,~~522~~520,~~339~~938.9306 89,~~932~~012.1389 0.00 B-6 0.00 1,~~523~~521,~~163~~761.7816 89,~~936~~017.9677 0.00 Totals 0.00 ~~366~~329,~~153~~655,~~128~~073.2009 6838,~~705~~490,~~978~~483.2414 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) A-1 993,910,000.00 ~~406~~339,~~286~~959,~~642~~865.4152 ~~350~~313,~~492~~055.5779 6536,~~976~~160,~~284~~699.3277 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 A-PO 345,868.00 ~~306~~305,~~161~~695.9112 ~~361~~363.5479 ~~105~~96.2590 0.00 0.00 A-WIO 0.00 0.00 0.00 0.00 0.00 0.00 B-1 13,264,000.00 13,~~208~~197,~~987~~592.7067 1112,~~395~~153.0415 0.00 0.00 0.00 B-2 4,591,000.00 4,~~571~~568,~~958~~014.8877 34,~~944~~206.1151 0.00 0.00 0.00 B-3 3,571,000.00 3,~~556~~553,~~189~~121.3249 3,~~067~~271.8393 0.00 0.00 0.00 B-4 1,531,000.00 1,~~524~~523,~~650~~334.1992 1,~~315~~402.2778 0.00 0.00 0.00 B-5 1,530,000.00 1,~~523~~522,~~654~~339.3493 1,~~314~~401.4286 0.00 0.00 0.00 B-6 1,530,828.00 1,~~524~~523,~~478~~163.9178 1,~~315~~402.1362 0.00 0.00 0.00 Totals 1,020,273,796.00 ~~432~~366,~~502~~153,~~723~~128.6620 ~~373~~337,~~205~~258.9143 6536,~~976~~160,~~389~~796.5767 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 6636,~~326~~473,~~776~~755.8956 ~~339~~303,~~959~~486,~~865~~109.5295 0.~~34204291~~30534567 6636,~~326~~473,~~776~~755.8956 A-R 0.00 0.00 0.00000000 0.00 A-PO ~~466~~460.7968 305,~~695~~234.1244 0.~~88384910~~88251715 ~~466~~460.7968 A-WIO 0.00 0.00 0.00000000 0.00 B-1 1112,~~395~~153.0415 13,~~197~~185,~~592~~439.6752 0.~~99499342~~99407717 1112,~~395~~153.0415 B-2 34,~~944~~206.1151 4,~~568~~563,~~014~~808.7726 0.~~99499342~~99407716 34,~~944~~206.1151 B-3 3,~~067~~271.8393 3,~~553~~549,~~121~~849.4956 0.~~99499342~~99407717 3,~~067~~271.8393 B-4 1,~~315~~402.2778 1,~~523~~521,~~334~~932.9214 0.~~99499342~~99407717 1,~~315~~402.2778 B-5 1,~~314~~401.4286 1,~~522~~520,~~339~~938.9306 0.~~99499342~~99407716 1,~~314~~401.4286 B-6 1,~~315~~402.1362 1,~~523~~521,~~163~~761.7816 0.~~99499342~~99407717 1,~~315~~402.1362 Totals 6636,~~349~~498,~~595~~055.4809 ~~366~~329,~~153~~655,~~128~~073.2009 0.~~35887732~~32310452 6636,~~349~~498,~~595~~055.4809

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 993,910,000.00 ~~408~~342.~~77608879~~04290682 0.~~35264015~~31497398 6636.~~38054182~~38226778 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A-PO 345,868.00 ~~885~~883.~~19871743~~84909850 1.~~04531208~~05181746 0.~~30430685~~28016469 0.00000000 A-WIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 13,264,000.00 ~~995~~994.~~85251055~~99341601 0.~~85909530~~91625075 0.00000000 0.00000000 B-2 4,591,000.00 ~~995~~994.~~85251144~~99341538 0.~~85909606~~91625136 0.00000000 0.00000000 B-3 3,571,000.00 ~~995~~994.~~85251190~~99341641 0.~~85909549~~91625035 0.00000000 0.00000000 B-4 1,531,000.00 ~~995~~994.~~85250816~~99341607 0.~~85909210~~91625082 0.00000000 0.00000000 B-5 1,530,000.00 ~~995~~994.~~85250980~~99341830 0.~~85909804~~91624837 0.00000000 0.00000000 B-6 1,530,828.00 ~~995~~994.~~85251250~~99341533 0.~~85909717~~91624925 0.00000000 0.00000000 (2) All classes are per $1000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 6636.~~73318197~~69724176 ~~342~~305.~~04290682~~34566505 0.~~34204291~~30534567 6636.~~73318197~~69724176 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-PO 0.00000000 1.~~34961893~~33195323 ~~883~~882.~~84909850~~51714527 0.~~88384910~~88251715 1.~~34961893~~33195323 A-WIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~85909530~~91625075 994.~~99341601~~07716526 0.~~99499342~~99407717 0.~~85909530~~91625075 B-2 0.00000000 0.~~85909606~~91625136 994.~~99341538~~07716402 0.~~99499342~~99407716 0.~~85909606~~91625136 B-3 0.00000000 0.~~85909549~~91625035 994.~~99341641~~07716606 0.~~99499342~~99407717 0.~~85909549~~91625035 B-4 0.00000000 0.~~85909210~~91625082 994.~~99341607~~07716525 0.~~99499342~~99407717 0.~~85909210~~91625082 B-5 0.00000000 0.~~85909804~~91624837 994.~~99341830~~07716340 0.~~99499342~~99407716 0.~~85909804~~91624837 B-6 0.00000000 0.~~85909717~~91624925 994.~~99341533~~07716608 0.~~99499342~~99407717 0.~~85909717~~91624925 (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 A-1 993,910,000.00 6.00000% ~~406~~339,~~286~~959,~~642~~865.4152 21,~~031~~699,~~433~~799.2133 0.00 0.00 A-R 100.00 6.00000% 0.00 0.00 0.00 0.00 A-PO 345,868.00 0.00000% ~~306~~305,~~161~~695.9112 0.00 0.00 0.00 A-WIO 0.00 0.~~54897~~54280% ~~427~~361,~~507~~165,~~235~~337.3666 ~~195~~163,~~575~~366.1810 0.00 0.00 B-1 13,264,000.00 6.00000% 13,~~208~~197,~~987~~592.7067 6665,~~044~~987.9496 0.00 0.00 B-2 4,591,000.00 6.00000% 4,~~571~~568,~~958~~014.8877 22,~~859~~840.7907 0.00 0.00 B-3 3,571,000.00 6.00000% 3,~~556~~553,~~189~~121.3249 17,~~780~~765.9561 0.00 0.00 B-4 1,531,000.00 6.00000% 1,~~524~~523,~~650~~334.1992 7,~~623~~616.2567 0.00 0.00 B-5 1,530,000.00 6.00000% 1,~~523~~522,~~654~~339.3493 7,~~618~~611.2770 0.00 0.00 B-6 1,530,828.00 6.00000% 1,~~524~~523,~~478~~163.9178 7,~~622~~615.3982 0.00 0.00 Totals 1,020,273,796.00 21,~~356~~992,~~557~~603.9826 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 ~~151~~149.0548 0.00 21,~~031~~699,~~282~~649.1785 0.00 ~~339~~303,~~959~~486,~~865~~109.5295 A-R 0.00 0.00 0.00 0.00 0.00 A-PO 0.00 0.00 0.00 0.00 305,~~695~~234.1244 A-WIO 14.5437 0.00 ~~195~~163,~~560~~351.6374 0.00 ~~361~~324,~~165~~674,~~337~~806.6604 B-1 45.9180 0.00 6665,~~040~~982.0316 0.00 13,~~197~~185,~~592~~439.6752 B-2 12.7001 0.00 22,~~858~~838.0907 0.00 4,~~568~~563,~~014~~808.7726 B-3 1.3256 0.00 17,~~779~~764.6205 0.00 3,~~553~~549,~~121~~849.4956 B-4 0.5767 0.00 7,~~622~~616.6800 0.00 1,~~523~~521,~~334~~932.9214 B-5 0.5767 0.00 7,~~617~~611.7103 0.00 1,~~522~~520,~~339~~938.9306 B-6 0.5767 0.00 7,~~621~~615.8315 0.00 1,~~523~~521,~~163~~761.7816 Totals 175.23 0.00 21,~~356~~992,~~382~~428.7605 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 A-1 993,910,000.00 6.00000% ~~408~~342.~~77608879~~04290682 21.~~04388044~~71021454 0.00000000 0.00000000 A-R 100.00 6.00000% 0.00000000 0.00000000 0.00000000 0.00000000 A-PO 345,868.00 0.00000% ~~885~~883.~~19871743~~84909850 0.00000000 0.00000000 0.00000000 A-WIO 0.00 0.~~54897~~54280% ~~421~~356.~~83600205~~37418391 0.~~19298072~~16119892 0.00000000 0.00000000 B-1 13,264,000.00 6.00000% ~~995~~994.~~85251055~~99341601 4.~~97926267~~97496683 0.00000000 0.00000000 B-2 4,591,000.00 6.00000% ~~995~~994.~~85251144~~99341538 4.~~97926160~~97496624 0.00000000 0.00000000 B-3 3,571,000.00 6.00000% ~~995~~994.~~85251190~~99341641 4.~~97926351~~97496780 0.00000000 0.00000000 B-4 1,531,000.00 6.00000% ~~995~~994.~~85250816~~99341607 4.~~97926192~~97496408 0.00000000 0.00000000 B-5 1,530,000.00 6.00000% ~~995~~994.~~85250980~~99341830 4.~~97926144~~97496732 0.00000000 0.00000000 B-6 1,530,828.00 6.00000% ~~995~~994.~~85251250~~99341533 4.~~97925959~~97496780 0.00000000 0.00000000 (5) All classes are per $1000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.~~00015198~~00015040 0.00000000 21.~~04372848~~71006414 0.00000000 ~~342~~305.~~04290682~~34566505 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~883~~882.~~84909850~~51714527 A-WIO 0.~~00001435~~00001418 0.00000000 0.~~19296636~~16118475 0.00000000 ~~356~~320.~~37418391~~36772906 B-1 0.~~00037017~~00043727 0.00000000 4.~~97889249~~97452955 0.00000000 994.~~99341601~~07716526 B-2 0.~~00037029~~00043781 0.00000000 4.~~97889131~~97453060 0.00000000 994.~~99341538~~07716402 B-3 0.~~00036964~~00043685 0.00000000 4.~~97889107~~97453094 0.00000000 994.~~99341641~~07716606 B-4 0.~~00037231~~00043762 0.00000000 4.~~97888961~~97452645 0.00000000 994.~~99341607~~07716525 B-5 0.~~00037255~~00043791 0.00000000 4.~~97889542~~97452941 0.00000000 994.~~99341830~~07716340 B-6 0.~~00037235~~00043767 0.00000000 4.~~97889378~~97453012 0.00000000 994.~~99341533~~07716608 (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 6838,~~796~~566,~~082~~765.9705 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 6838,~~796~~566,~~082~~765.9705 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 9076,~~104~~281.7391 Payment of Interest and Principal 6838,~~705~~490,~~978~~483.2414 Total Withdrawals (Pool Distribution Amount) 6838,~~796~~566,~~082~~765.9705 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 9076,~~104~~281.7391 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 9076,~~104~~281.7391

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 125 0 0 0 125 41,~~765~~476,~~458~~975.5036 0.00 0.00 0.00 41,~~765~~476,~~458~~975.5036 60 Days 02 0 0 0 02 01,146,184.0015 0.00 0.00 0.00 01,146,184.0015 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 10 0 0 0 10 ~~401,552~~0.2700 0.00 0.00 0.00 ~~401,552~~0.2700 150 Days 01 0 0 0 01 0401,552.0027 0.00 0.00 0.00 0401,552.0027 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 138 0 0 0 138 53,~~167~~024,~~010~~711.7778 0.00 0.00 0.00 53,~~167~~024,~~010~~711.7778 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 10.~~411765~~645995% 0.000000% 0.000000% 0.000000% 10.~~411765~~645995% 10.~~300382~~447675% 0.000000% 0.000000% 0.000000% 10.~~300382~~447675% 60 Days 0.~~000000~~258398% 0.000000% 0.000000% 0.000000% 0.~~000000~~258398% 0.~~000000~~347412% 0.000000% 0.000000% 0.000000% 0.~~000000~~347412% 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.~~117647~~000000% 0.000000% 0.000000% 0.000000% 0.~~117647~~000000% 0.~~109574~~000000% 0.000000% 0.000000% 0.000000% 0.~~109574~~000000% 150 Days 0.~~000000~~129199% 0.000000% 0.000000% 0.000000% 0.~~000000~~129199% 0.~~000000~~121712% 0.000000% 0.000000% 0.000000% 0.~~000000~~121712% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.~~529412~~033592% 0.000000% 0.000000% 0.000000% 1.~~529412~~033592% 10.~~409957~~916798% 0.000000% 0.000000% 0.000000% 10.~~409957~~916798%

COLLATERAL STATEMENT Collateral Description Mixed Fixed Ratio Strip Weighted Average Gross Coupon 6.~~788386~~780393% Weighted Average Pass-Through Rate 6.~~538386~~530393% Weighted Average Maturity(Stepdown Calculation ) ~~341~~340 Beginning Scheduled Collateral Loan Count ~~995~~850 Number Of Loans Paid In Full ~~145~~76 Ending Scheduled Collateral Loan Count ~~850~~774 Beginning Scheduled Collateral Balance ~~432~~366,~~502~~153,~~724~~129.5205 Ending Scheduled Collateral Balance ~~366~~329,~~153~~655,~~129~~073.0595 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2003 ~~366~~329,~~465~~921,~~964~~133.8082 Monthly P &I Constant 2,~~819~~406,~~868~~143.6360 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 6838,~~553~~336,~~785~~920.2899 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~366~~329,~~153~~655,~~129~~073.0595 Scheduled Principal ~~373~~337,~~205~~258.9043 Unscheduled Principal 6536,~~976~~160,~~389~~796.5767

Miscellaneous Reporting CPR 8671.~~304251~~320825% Senior Prepayment Percentage 100.000000% Senior Percentage 9492.~~005061~~923944% Subordinate Percentage 57.~~994939~~076056% Subordinate Prepayment Percentage 0.000000%

Filing Compare · BANC OF AMERICA FUNDING CORP MORT PAS THR CERTS SER 2003 1