Wachovia Preferred Funding

Wachovia Preferred Funding is a Delaware corporation, and the survivor of a merger with First Union Real Estate Asset Company.

Wachovia Preferred Funding Corp. (Wachovia Funding) focuses to acquire, hold and manage domestic mortgage assets, and other authorized investments. As of December 31, 2011, Wachovia Funding is a direct subsidiary of Wachovia Preferred Funding Holding Corp. (Wachovia Preferred Holding) and an indirect subsidiary of both Wells Fargo & Company (Wells Fargo) and Wachovia Bank, National Association (the Bank). One of its subsidiaries, Wachovia Real Estate Investment Corp. (WREIC), operates as a real estate investment trust (a REIT). Wachovia Funding’s other subsidiary is Wachovia Preferred Realty, LLC (WPR). Wachovia Funding owns 98.20% of the outstanding member interests in WPR and the remaining 1.80% is owned by the Bank.