##### 



Annual Statement to the
Securityholders Wachovia Asset Securitization Inc
2003-HE1 Monthly Period
    
    March 1, 2003 to November 30, 2003Payment Date
    
    December 26, 2003
 Aggregate Amount Collected for the Collection PeriodInterest
    
    $
    33,465,102.18Principal Collections
    
    $
    456,693,780.55Substitution Amounts
    
    $
    Application of Collected AmountsApplied in the following order of priority:
    
    
    
    
    
    
    
    
    
    Factor per 1000(I) Enhancer Premium
    
    
    
    
    
    $
    772,027.87(ii) A-1 Noteholders Interest
    
    
    
    
    
    $
    6,500,717.67
    
    
    
    6.5007176749A-2 Noteholders Interest
    
    
    
    
    
    $
    537,848.09
    
    
    
    5.3754808709(iii) Principal Collections to Funding Account
    
    
    
    
    
    $
    (iv) Excess Spread (during Revolving)
    
    
    
    
    
    $
    8,355,284.09(v) Excess Spread (during AP)
    
    
    
    
    
    $
    4,851,119.43(vi) Additional Balance Increase from Excess Spread (during MAP)
    
    
    
    
    
    $
    (vii) A-1 Noteholders Principal Distribution
    
    
    
    
    
    $
    173,517,040.13
    
    
    
    173.5170401A-2 Noteholders Principal Distribution
    
    
    
    
    
    $
    17,351,704.01
    
    
    
    173.5170401(viii) Enhancer for Prior Draws
    
    
    
    
    
    $
    (ix) Liquidation Loss Amount
    
    
    
    
    
    $
    (x) Enhancer
    
    
    
    
    
    $
    (xi) Interest Shortfalls
    
    
    
    
    
    $
    (xii) Indenture Trustee
    
    
    
    
    
    $
    (xiii) Certificates
    
    
    
    
    
    $
    13,206,403.52Balances
    
    
    
    
    
    
    
    
    
    FactorBeginning A-1 Note Balance
    
    
    
    
    
    $
    1,000,000,000.00
    
    
    
    1.0000000000Ending A-1 Note Balance
    
    
    
    
    
    $
    826,482,959.87
    
    
    
    0.8264829599Change
    
    $
    173,517,040.13
    
    
    
    0.1735170401Beginning A-2 Note Balance
    
    
    
    
    
    $
    100,000,000.00
    
    
    
    1.0000000000Ending A-2 Note Balance
    
    
    
    
    
    $
    82,648,295.99
    
    
    
    0.8264829599Change
    
    $
    17,351,704.01
    
    
    
    0.1735170401Beginning Excluded Amount
    
    
    
    
    
    $
    Ending Excluded Amount
    
    
    
    
    
    $
    Change
    
    $
    Beginning Pool Balance
    
    
    
    
    
    $
    1,100,011,120.00
    
    
    
    1.0000000000Ending Pool Balance
    
    
    
    
    
    $
    922,923,541.50
    
    
    
    0.8390129197Change
    
    $
    177,087,578.50
    
    
    
    0.1609870803Beginning Principal Balance
    
    
    
    
    
    $
    1,100,011,120.00
    
    
    
    1.0000000000Ending Principal Balance
    
    
    
    
    
    $
    922,923,541.50
    
    
    
    0.8390129197Change
    
    $
    177,087,578.50
    
    
    
    0.1609870803Additional Draws
    
    
    
    
    
    $
    (271,653,750.75
    )Additional Balance Increase (Draws minus Payments)
    
    
    
    
    
    $
    Delinquencies#
    
    
    $Two statement cycle dates:
    
    
    13
    
    
    $
    367,595.73Three statement cycle dates:
    
    
    8
    
    
    $
    402,393.57Four statement cycle dates:
    
    
    5
    
    
    $
    234,467.42Five statement cycle dates:
    
    
    3
    
    
    $
    172,798.80Six statement cycle dates:
    
    
    1
    
    
    $
    42,285.64Seven + statement cycle dates:
    
    
    
    
    
    $
    Foreclosures
    
    
    
    
    
    $
    REO
    
    
    
    
    
    $
    Liquidation Loss Amount
    
    
    5
    
    
    $
    52,004.26Wachovia Bank, National Bank
as AdministratorAdditional InformationNet WAC Rate
    
    
    
    
    
    
    3.38
    %Overcollateralization Target
    
    
    
    
    
    $
    13,792,285.64Overcollateralization Amount
    
    
    
    
    
    $
    13,792,285.64Funding Account Ending Balance
    
    
    
    
    
    $
    Gross CPR (1 mo. Annualized)
    
    
    
    
    
    
    39.380
    %Net CPR (1 mo. Annualized)
    
    
    
    
    
    
    19.169
    %Draw Rate (1 mo. Annualized)
    
    
    
    
    
    
    24.619
    %WAM
    
    
    
    
    
    
    210.38AGE
    
    
    
    
    
    
    22.34