WACHOVIA ASSET SECURITIZATION INC 2003-HE2 TRUST - FORM 8-K - January 26, 2010

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EX-20 - CERTIFICATEHOLDER STATEMENT - WACHOVIA ASSET SECURITIZATION INC 2003-HE2 TRUSTwahethree_two.htm

Wachovia Asset Securitization Issuance, LLC
Series 2003-HE2
Statement to Securityholders
Distribution Date: 01/25/10
Totals
14,277,325.91
198,894.05
Certificate
n/a
0.000000%
0.00
1.38753482
71.78712614
198,894.05
14,176,968.83
Factors per Thousand
0.00
0.00
138,753.48
7,178,712.61
Rate
1.30332852
7,309,045.47
8,420.63
130,332.85
0.00
73.09045466
0.08420630
A-II-2
92975RAC2 1.481250%
100,000,000.00
Factors per Thousand
0.491250%
A-II-1
A-I-1
Factors per Thousand
Certificate
Cusip
Class
92975RAA6
92975RAB4 0.491250%
73.09045467
Original
Certificate
Balance
400,000,000.00
54,817,841.00
0.02792664
Distribution Summary
750,000,000.00
Beginning
Certificate
Balance
27,384,800.83
68.46200208
20,944.98
Interest
10,463.28
0.02615820
Principal
496,390.01
1.24097503
977,496.39
0.00
0.00
Certificate
Unpaid
Principal
Amount
Ending
1.33125516
Balance
67.22102705
53,840,344.62
71.78712615
Total
Distribution
506,853.29
1.26713323
26,888,410.82
1,250,000,000.00
89,511,687.30
238,722.94
1,604,219.25
0.00
1,842,942.19
87,907,468.05
998,441.37
1.30332852
Wachovia Asset Securitization Issuance, LLC
Series 2003-HE2
Statement to Securityholders
Distribution Date: 01/25/10
* The Rapid Amortization Tranche does not affect the bond distribution.
Totals
0.00
478,599.91
41,591,035.93
0.00
41,112,436.02
-694,677.10
1,173,277.01
41,591,035.93
Total
Excluded*
n/a
n/a
0.00
41,112,436.02
-694,677.10
1,173,277.01
0.00
478,599.91
28,432,001.86
Pool II
Excluded*
n/a
n/a
0.00
27,958,882.96
-248,732.26
721,851.16
0.00
473,118.90
13,159,034.07
Pool I
Balance
Excluded*
n/a
n/a
0.00
13,153,553.06
-445,944.84
451,425.85
0.00
5,481.01
Ending
Tranche
Cusip
Rate
Balance
Balance
Payments
Draws
Losses
Distribution
Amortization
Original
Beginning
Total
Excluded Balance
Rapid
Wachovia Asset Securitization Issuance, LLC
Series 2003-HE2
Statement to Securityholders
Distribution Date: 01/25/10
Bond Interest Information
Type of
Certificate
Senior/Variable
Senior/Variable
Senior/Auction
Residual
* Original Ratings of the Offered Certificates per the Prospectus Supplement dated June 25, 2003
-
-
-
28/360
n/a
n/a
n/a
Class
S & P
Fitch
Original Rating* Original Rating* Original Rating
WAC Rate
Class Net
A-II-2
92975RAC2
13.93452%
LIBOR/Auction
0.23125%
0.23125%
1.48125%
A-I-1
A-II-1
Certificate
n/a
Moody's
11.65962%
Accrual
13.93452%
Aaa
AAA
Aaa
AAA
Aaa
AAA
-
-
-
Cusip
92975RAA6
92975RAB4
Period
28/360
28/360
Wachovia Asset Securitization Issuance, LLC
Series 2003-HE2
Statement to Securityholders
Distribution Date: 01/25/10
Bond Interest Information
Class
A-II-1
A-II-2
10,463.28
A-I-1
Current
Carryforward Paid
Current
Outstanding
Current
Cusip
Interest Due
Interest Carryforward Interest Carryforward
92975RAA6
0.00
0.00
92975RAB4
20,944.98
0.00
0.00
92975RAC2
8,420.63
0.00
0.00
0.00
0.00
0.00
Wachovia Asset Securitization Issuance, LLC
Series 2003-HE2
Statement to Securityholders
Distribution Date: 01/25/10
Interest
Interest Collected
(Additional Balance Interest)
(Relief Act Shortfalls)
Total Interest Collected
Principal
Principal Collected
Net Liquidation Proceeds
Substitute Adjustment Amount
Other Principal Collected
(Additional Balance Increase)
(Draw Amounts)
Total Principal Collected
Additional Funds
Additional Funds from the Funding Accou
Draws from the Policy
Yield Maintenance Payment
Total Additional Funds Collected
Total Available Collections
1,604,219.25
0.00
0.00
0.00
0.00
0.00
293,157.33
1,604,219.25
0.00
0.00
0.00
585,463.19
0.00
0.00
0.00
0.00
0.00
1,311,913.39
89,073.18
0.00
0.00
89,073.18
496,390.01
0.00
0.00
0.00
0.00
0.00
Pool I
Pool II
496,390.01
0.00
0.00
0.00
204,084.15
1,107,829.24
1,107,829.24
0.00
0.00
0.00
0.00
Total
204,084.15
293,157.33
0.00
0.00
0.00
0.00
0.00
1,897,376.58
Collection Activity
0.00
Wachovia Asset Securitization Issuance, LLC
Series 2003-HE2
Statement to Securityholders
Distribution Date: 01/25/10
Beginning Collateral Balance
Ending Collateral Balance
Current Liquidation Loss Amounts
Cumulative Liquidation Loss Amounts
Gross WAC
WAM
AGE
Gross CPR
Net CPR
Draw Rate
Collateral Balance
Number of Loans
Gross WAC
WAM
Overcollateralization Target Amount
Beginning Overcollateralization Amount
Ending Overcollateralization Amount
Overcollateralization Increase
Overcollateralization Decrease
Pool I
Collateral Information
Periodic Information
Pool II
Total
0.00
0.00
738,148.55
3.371%
Overcollateralization Information
-
-
17.050%
17.183%
-
32,723,871.11
32,227,481.10
153
78
16.758%
-
3.360%
0.00
71,065,142.10
69,856,955.78
100,357.08
4,481,826.55
3.355%
149
83
103,789,013.21
102,084,436.88
100,357.08
5,219,975.10
5,339,070.28
-
-
Original Information
14,541
4.273%
232
5,339,070.28
400,000,033.76
9,301
4.276%
231
0.00
1,250,033,330.44
23,842
4.274%
850,033,296.68
9,065,450.00
2,773,442.78
6,292,007.22
100,357.08
14,277,325.91
14,176,968.83
0.00
100,357.08
8,938,255.63
8,837,898.55
Wachovia Asset Securitization Issuance, LLC
Series 2003-HE2
Statement to Securityholders
Distribution Date: 01/25/10
Funding Account
Beginning Balance
Interest Earnings
Deposits
Withdrawals
Interest Earnings to Collection Accoun
Ending Balance
0.00
0.00
0.00
0.00
Additional Account Activity
Pool I
Pool II
Total
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Wachovia Asset Securitization Issuance, LLC
Series 2003-HE2
Statement to Securityholders
Distribution Date: 01/25/10
Delinquent:
30-59 Days
60-89 Days
90-119 Days
120-149 Days
150-179 Days
180+ Days
Total
Foreclosure:
REO:
* Foreclosures are included in the delinquency totals
19
225,484.76
%
0.994%
$
%
$
#
#
4
211,667.57
3
74,697.00
#
5
$
994,473.33
0.397%
320,309.76
127,955.67
4
0
2
5
0.000%
0.700%
246,026.14
0.00
Delinquency Information
91,810.25
1
%
0.657%
0.285%
Pool I
3.086%
0.232%
0.763%
Wachovia Asset Securitization Issuance, LLC
Series 2003-HE2
Statement to Securityholders
Distribution Date: 01/25/10
Delinquent:
30-59 Days
60-89 Days
90-119 Days
120-149 Days
150-179 Days
180+ Days
Total
Foreclosure:
REO:
* Foreclosures are included in the delinquency totals
#
$
11
1,162,794.09
%
1.665%
Delinquency Information
Pool II
4
422,409.51
0.605%
4
278,776.84
0.399%
3
243,891.37
0.349%
1
88,358.73
0.126%
11
2,288,034.41
3.275%
34
4,484,264.95
6.419%
#
$
%
9
1,140,795.10
1.633%
$
%
2
210,120.58
0.301%
#
Wachovia Asset Securitization Issuance, LLC
Series 2003-HE2
Statement to Securityholders
Distribution Date: 01/25/10
3 Largest Mortgage Loan Balances
Servicing Fee
Additional Balances created during the first
Enhancer Premium
Rapid Amortization Period
Indenture Trustee Expenses
Additional Balance Increase Amount payable
Paying Agent Expenses
to Certificateholders
Additional Balance Increase Amount payable
Total Fees
from Principal Collections
Condition 1 in effect?
Condition 2 in effect?
Condition 3 in effect?
Cumulative Liquidation Loss Amount %
Cumulative Subsequent Mortgage Loans
Deficiency Amount
Draws from Policy not yet Reimbursed
Revolving (Yes / No)
Net Excess Spread
Managed Amortization (Yes / No)
Net Excess Spread % - Current
Rapid Amortization (Yes / No)
Net Excess Spread % - 2 mth avg
Net Excess Spread % - 3 mth avg
Percentage Interest - Class A-I-1
Percentage Interest - Class A-II-1
Percentage Interest - Class A-II-2
Stepdown Date Active (Yes / No)
Stepdown Delinquency Test Met? (Yes / No)
Servicer Termination Trigger Active (Yes/No)
0.00
11.018%
10.958%
30.587%
0.00
838,596.16
0.418%
0.00
0.00
Additional Reporting Items
Pool I
Pool II
7,765.86
Additional Information
Fees
3,689,868.06
0.00
0.00
29,610.48
0.00
37,376.34
13,634.95
3,423.10
0.00
0.00
No
Yes
No
No
Yes
No
12.045%
61.247%
8.166%
Amortization Period
17,058.05
No
0.00
Yes
No