Fitch Rates Banc of America Mortgage Securities $1.006B Series 2004-G

Business Wire, July 30, 2004

The group 4 collateral consists of 7/1 hybrid ARM mortgage loans. After the initial fixed interest rate period of seven years, the interest rate will adjust annually based on the sum of One-Year LIBOR index and a gross margin specified in the applicable mortgage note. As of the cut-off date, the group has an aggregate principal balance of approximately $44,185,569.71 and an average balance of $513,786. The weighted average OLTV for the mortgage loans is approximately 68.80%. The weighted average remaining term to maturity is 357 months and the weighted average FICO credit score for the group is 739. Second homes and investor-occupied properties comprise 1.80% and 2.70% of the loans in group 4, respectively. Rate/Term and cashout refinances account for 23.38% and 19.94% of the loans in group 4, respectively. The states that represent the largest geographic concentration of mortgaged properties are California (39.66%), Virginia (8.08%), Florida (7.21%), Illinois (6.09%) and Texas (6.04%). All other states represent less than 5% of the outstanding balance of the pool.

Approximately 67.10%, 55.15%, 51.55%, and 63.44% of the groups 1, 2, 3 and 4 mortgage loans, respectively, were originated under the Accelerated Processing Programs. Loans in the Accelerated Processing Programs, which may include the All-Ready Home and Rate Reduction Refinance programs, are subject to less stringent documentation requirements.

None of the mortgage loans are 'high cost' loans as defined under any local, state or federal laws. For additional information on Fitch's rating criteria regarding predatory lending legislation, please see the press release issued May 1, 2003 entitled 'Fitch Revises Rating Criteria in Wake of Predatory Lending Legislation', available on the Fitch Ratings web site at 'www.fitchratings.com'.

Banc of America Mortgage Securities, Inc. deposited the loans in the trust, which issued the certificates, representing undivided beneficial ownership in the trust. For federal income tax purposes, elections will be made to treat the trust as three separate real estate mortgage investment conduits (REMICs). Wachovia Bank, National Association will act as trustee, and Wells Fargo Bank, National Association will act as Securities Administrator.