Wells Fargo Asset Securities Corp., a steady issuer of pass-through certificates through 2007, has filed a shelf Registration Statement on Form S-3 to offer a new series of collateralized mortgage obligations. When SEC file no. 333-170946 is declared effective, the subsequent prospectus supplement will be the first one filed by the subsidiary since a $216.8 million offering underwritten by Lehman Brothers dated 3/4/08.
Acting as depositor, WFASC has registered CMO certificates for a proposed maximum aggregate offering of $33.2 billion. Pursuant to 1933 Act Rule 415(a)(6), $22.1 billion of unsold securities from prior Registrations (333-150038 and 333-151061) are included in the new Registration.
Seventeen classes of senior certificates and six classes of subordinated certificates are expected to be offered at varying prices to be determined at the time of sale. The assets of the issuing entity will include a pool of fully amortizing, one- to four-family, fixed interest rate, non-relocation, residential first mortgage loans.
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