Item 1. Business.
Omitted.
Item 2.
Item 2. Properties.
Not applicable.
Item 3.
Item 3. Legal Proceedings.
The registrant knows of no material pending legal proceedings involving the trust created under the Pooling and Servicing Agreement (the Trust), the Trustee, the Servicer or the registrant with respect to the Trust other than routine litigation incidental to the duties of the respective parties.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
PART II
Item 5.
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.
No established public trading market for the Certificates exists.
Records provided to the Trust by the DTC and the Trustee indicate that as of December 31, 2003, the number of holders of record for each class of Certificate were as follows:
Class 15-B-1 3 Class 15-B-2 1 Class 15-B-3 3 Class 15-B-4 1 Class 15-B-5 1 Class 15-B-6 1 Class 15-IO 3 Class 1-A-1 21 Class 1-A-LR 1 Class 1-A-R 1 Class 2-A-1 4 Class 30-B-1 3 Class 30-B-3 3 Class 30-B-4 1 Class 30-B-5 1 Class 30-B-6 1 Class 3-A-1 3 Class 3-IO 3 Class 4-A-1 3 Class 4-A-2 3 Class 5-A-1 10 Class 5-A-2 3 Class CB-IO 3 Class PO 3 Class SES 1
Total: 81
Item 6.
Item 6. Selected Financial Data.
Omitted.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation.
Omitted.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures about Market Risk.
Not applicable.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Omitted.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
Item 9A.
Item 9A. Controls and Procedures.
Not applicable.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Not applicable.
Item 11.
Item 11. Executive Compensation.
Not applicable.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
Not applicable.
Item 13.
Item 13. Certain Relationships and Related Transactions.
Not applicable.
Item 14.
Item 14. Principal Accounting Fees and Services.
Not applicable.
PART IV
Item 15.
Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
(a) Not Applicable
(b) Not Applicable
(c) 31.1 Rule 13a-14(a)/15d-14(a) Certification.
99.1 Annual Independent Public Accountants Servicing Report concerning servicing activities for the year ended December 31, 2003.
99.2 Annual Statement as to Compliance under the Pooling and Servicing Agreement for the year ended December 31, 2003.
(d) Not Applicable
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized:
Banc of America Alternative Loan Trust Mortgage Pass-Through Certificates Series 2003-11 (Registrant)
Signed: Bank of America, N.A. as Servicer
By: Gary K. Bettin, Senior Vice President
By: /s/ Gary K. Bettin, Senior Vice President
Dated: March 30, 2004
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
(a)(i) No annual report is provided to the Certificateholders other than with respect to aggregate principal and interest distributions.
(a)(ii) No proxy statement, form of proxy or other proxy soliciting material has been sent to any Certificateholder with respect to any annual or other meeting of Certificateholders.
Exhibit Index
Exhibit No.
31.1 Rule 13a-14(a)/15d-14(a) Certification.
99.1 Annual Independent Public Accountants Servicing Report concerning servicing activities for the year ended December 31, 2003.
99.2 Annual Statement as to Compliance under the Pooling and Servicing Agreement for the year ended December 31, 2003.
EX-31.1 Sarbanes-Oxley Certification
I, Gary K. Bettin, a Senior Vice President of Bank of America, N.A., certify that:
1. I have reviewed the annual reports on Form 10-K for the calendar year 2003 and all monthly current reports on Form 8-K containing a copy of the monthly statement to certificateholders (the "Distribution Date Statements") delivered pursuant to Section 5.04(b) of the Pooling and Servicing Agreements listed on Exhibit I hereto (each, an "Agreement") filed in respect of periods included in the year covered by such annual reports of the trusts (each, a "Trust") formed pursuant to such Agreements;
2. Based on my knowledge, with respects to each Trust, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by such annual report;
3. Based on my knowledge, the distribution or servicing information required to be provided to the trustee by the servicer under each Agreement for inclusion in the related Trust's Distribution Date Statements is included in these reports;
4. I am responsible for reviewing the activities performed by the servicer under each Agreement and based upon my knowledge and the annual compliance review required under each Agreement, and except as disclosed in the reports, the servicer has fulfilled its obligations under each Agreement;
5. The reports disclose all significant deficiencies relating to the servicer's compliance with the minimum servicing standards, based upon the report provided by an independent public accountant after conducting a review in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar procedure as set forth in the Agreement that is included in these reports; and
6. In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated party: Wells Fargo Bank, National Association.
Date: March 30, 2004
/s/ Gary K. Bettin Signature
Senior Vice President Title
EXHIBIT I
PARTIES DATE OF POOLING SERIES AGREEMENT
Banc of America Mortgage January 28, 2003, as BoALT 2003-1 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage January 28, 2003, as 2003-A Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage January 28, 2003, (as 2003-1 Securities, Inc., Bank amended, January 30, of America, N.A. and Wells 2004) Fargo Bank Minnesota, N.A.
Banc of America Mortgage February 25, 2003, as 2003-B Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage March 24, 2003, as 2003-2 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage March 25, 2003, as 2003-C Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage March 25, 2003, as BoALT 2003-2 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage April 23, 2003, as 2003-3 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage April 24, 2003, as BoALT 2003-3 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage April 24, 2003, as 2003-D Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage May 22, 2003, as 2003-4 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage May 22, 2003, as BoALT 2003-4 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage May 22, 2003, as 2003-E Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage June 24, 2003, as 2003-F Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage June 24, 2003, as BoALT 2003-5 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage June 24, 2003, as 2003-5 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage July 24, 2003, as 2003-G Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage July 24, 2003, as 2003-6 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage July 24, 2003, as BoALT 2003-6 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage August 27, 2003, as 2003-7 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage August 27, 2003, as 2003-H Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage August 27, 2003, as BoALT 2003-7 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage September 25, 2003, as 2003-I Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage September 25, 2003, as BoALT 2003-8 Securities, Inc., Bank amended by Amendment of America, N.A. and Wells No. 1, dated January 30, Fargo Bank Minnesota, N.A. 2004
Banc of America Mortgage October 23, 2003 2003-8 Securities, Inc., Bank of America, N.A. and Wells Fargo Bank Minnesota, N.A.
Banc of America Mortgage October 27, 2003 BoALT 2003-9 Securities, Inc., Bank of America, N.A. and Wells Fargo Bank Minnesota, N.A.
Banc of America Mortgage October 27, 2003 2003-J Securities, Inc., Bank of America, N.A. and Wells Fargo Bank Minnesota, N.A.
Banc of America Mortgage November 25, 2003 2003-K Securities, Inc., Bank of America, N.A. and Wells Fargo Bank Minnesota, N.A.
Banc of America Mortgage November 25, 2003 2003-9 Securities, Inc., Bank of America, N.A. and Wells Fargo Bank Minnesota, N.A.
Banc of America Mortgage November 26, 2003 BoALT 2003-10 Securities, Inc., Bank of America, N.A. and Wells Fargo Bank Minnesota, N.A.
Banc of America Mortgage December 23, 2003 2003-10 Securities, Inc., Bank of America, N.A. and Wells Fargo Bank Minnesota, N.A.
Banc of America Mortgage December 23, 2003 2003-L Securities, Inc., Bank of America, N.A. and Wells Fargo Bank Minnesota, N.A.
Banc of America Mortgage December 23, 2003 BoALT 2003-11 Securities, Inc., Bank of America, N.A. and Wells Fargo Bank Minnesota, N.A.
EX-99.1 (Logo) PricewaterhouseCoopers
PricewaterhouseCoopers llP 214 N.Tryon Street Ste 3600 Charlotte NC 28202
Telephone (704) 344 7500 Facsimile (704) 344 4100
Report of Independent Accountants
To the Board of Directors and Shareholder of Bank of America, N.A.
We have examined management's assertion about compliance by the mortgage division of Bank of America, N.A. (the "Company"), an operating division of Bank of America, N.A., with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP") as of and for the year ended December 31, 2003 included in the accompanying management assertion (see Exhibit 1). Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.
Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31,2003 is fairly stated, in all material respects.
/s/ PriceWaterhouseCoopers March 2, 2004
Bank of America
Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards
March 2, 2004
As of and for the year ended December 31,2003, the Mortgage division of Bank of America, N.A. (the "Company"), has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP").
As of and for this same period, the Company had in effect a fidelity bond and errors and omissions policy in the amounts of $340,000,000 and $270,000,000, respectively.
/s/ Ashish Kamit Ashish Kamit Senior Vice President and Managing Director Bank of America, N .A.
/s/ J Mark Hanson J Mark Hanson Senior Vice President Bank of America, N .A.
/S/ H Randell Chestnut Senior Vice President Bank of America, N.A.
Gary K Bettin Senior Vice President and National Servicing Executive Bank of America, N .A.
/s/ Kevin M Shannon Kevin M. Shannon President Consumer Real Estate
Bank of America, N.A. USA [Olympic rings] 2000-2004 US Olympic Teams
EX-99.2
BANC OF AMERICA MORTGAGE SECURITIES, INC. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES SET FORTH ON EXHIBIT I HERETO
OFFICER'S CERTIFICATE PURSUANT TO SECTION 3.18 OF THE AGREEMENTS LISTED ON EXHIBIT I HERETO
I, H. Randall Chestnut, Senior Vice President of Bank of America, N.A., as servicer (the "Servicer"), hereby certify pursuant to Section 3.18 of the Pooling and Servicing Agreements listed on Exhibit I hereto (collectively, the "Agreements") that: (a) a review of the activities of the Servicer during calendar year 2003 and of the performance of the Servicer under the Agreements has been made under my supervision, and (b) to the best of my knowledge, based on such review, the Servicer has fulfilled all its obligations under the Agreements throughout calendar year 2003.
Dated: March 18, 2004
BANK OF AMERICA, N.A., as Servicer
By: Name: H. Randall Chestnut Title: Senior Vice President