-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FXffKroS0rba/0Poedw0TrDfcNU2CUR2uYoJrBPPop2Ky95WJHkayCY7Zsz+XiYb M7L6ni3yJ0A6Fwdr22WfuA== 0001005477-98-001024.txt : 19980401 0001005477-98-001024.hdr.sgml : 19980401 ACCESSION NUMBER: 0001005477-98-001024 CONFORMED SUBMISSION TYPE: 10-K405 PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 19971231 FILED AS OF DATE: 19980331 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONTIMORTGAGE HOME EQUITY TURST 1997 4 CENTRAL INDEX KEY: 0001045372 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FILING VALUES: FORM TYPE: 10-K405 SEC ACT: SEC FILE NUMBER: 333-19427-02 FILM NUMBER: 98581804 BUSINESS ADDRESS: STREET 1: 277 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10172 BUSINESS PHONE: 2122072800 MAIL ADDRESS: STREET 1: 277 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10172 10-K405 1 FORM 10-K405 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) |X| ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1997 OR |_| TRANSITION REPORT PURSUANT TO SECTION 13 or 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission File number 33-319427 ContiMortgage Home Equity Loan Trust 1997-4 ------------------------------------------------------ (Exact name of registrant as specified in its charter) 16-1537547 16-1537548 New York 16-1537550 ------------------------------ ------------------- (State of other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) c/o Manufacturers and Traders Trust Company Corporate Trust Department One M&T Plaza Buffalo, New York 14240-2599 - ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (716) 842-5589 ---------- Securities registered pursuant to Section 12(b) of the Act: Title of each class: Name of each exchange on which registered: None None -------------------- ------------------------------------------ Securities registered pursuant to Section 12(g) of the Act: None - -------------------------------------------------------------------------------- (Title of class) Indicated by check mark whether the registrant (1) has filed all reports required to be file by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes |X| No |_|. Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (e 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. |X| State the aggregate market value of the voting stock held by non-affiliates of registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of specified date within 60 days prior to the date of filing: Not Applicable Documents Incorporated by Reference: None CONTIMORTGAGE HOME EQUITY LOAN TRUST 1997-4 INDEX Page ---- PART 1 .................................................................... 3 ITEM 1 - Business .................................................. 3 ITEM 2 - Properties ................................................ 3 ITEM 3 - Legal Proceedings ......................................... 3 ITEM 4 - Submission of Matters to a Vote of Security Holders ....... 3 PART II ................................................................... 3 ITEM 5 - Market for Registrant's Common Stock and Related Stockholder Matters ............................... 3 ITEM 6 - Selected Financial Data ................................... 3 ITEM 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations ............. 4 ITEM 7A - Quantitative and Qualitative Disclosures about Market Risk 4 ITEM 8 - Financial Statements and Supplementary Data ............... 4 ITEM 9 - Changes in and Disagreements with Accountants on Accounting and Financial Disclosure .................... 4 PART III .................................................................. 4 ITEM 10 - Directors and Executive Officers of the Registrant ........ 4 ITEM 11 - Executive Compensation .................................... 4 ITEM 12 - Security Ownership of Certain Beneficial Owners and Management ..................................... 4 ITEM 13 - Certain Relationships and Related Transactions ............ 12 PART IV ................................................................... 12 ITEM 14 - Exhibits, Financial Statement Schedules and Reports on Form 8-K ....................................... 12 SIGNATURES ................................................................ 14 INDEX TO EXHIBITS ......................................................... 15 -1- PART I ITEM 1 - Business Not Applicable. ITEM 2 - Properties Not Applicable. ITEM 3 - Legal Proceedings The Depositor is not aware of any material pending legal proceedings involving either the ContiMortgage Home Equity Loan Trust 1997-4 (the "Trust") established pursuant to the Pooling and Servicing Agreement (the "Agreement") dated September 1, 1997, among Manufacturers and Traders Trust Company, as trustee (the "Trustee"), ContiSecurities Asset Funding Corp., as depositor (the "Depositor") and ContiMortgage Corporation, as servicer (the "Servicer"), the Trustee, the Depositor or the Servicer which relates to the Trust. ITEM 4 - Submission of Matters to a Vote of Security Holders No matter has been submitted to a vote of the holders of beneficial interests in the Trust through the solicitation of proxies or otherwise. PART II ITEM 5 - Market for Registrants Common Stock and Related Stockholder Matters To the best knowledge of the Depositor, there is no established public trading market for any beneficial interests in the Trust. All of the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class B Certificates and Class 7-IO Certificate issued by the Trust are held by the Depository Trust Company ("DTC") which in turn maintains records of holders of beneficial interests in such Certificates. Based on information obtained by the Trust from DTC, as of March 6, 1998, there were 18 holders of the Class A-1 Certificates, 11 holders of the Class A-2 Certificates, 19 holders of the Class A-3 Certificates, 6 holders of the Class A-4 Certificates, 15 holders of the Class A-5 Certificates, 11 holders of the Class A-6 Certificates, 10 holders of the Class A-7 Certificates, 5 holders of the Class A-8 Certificate, 15 holders of the Class A-9 Certificates, 2 holders of the Class B Certificates and 11 holders of the Class A-7IO Certificates. ITEM 6 - Selected Financial Data Not applicable. -2- ITEM 7 - Management's Discussion and Analysis of financial Condition and Results of Operations Not applicable. ITEM 7A- Quantitative and Qualitative Disclosures about Market Risk Not applicable. ITEM 8 - Financial Statements and Supplementary Data In addition to the information included in the Annual Compilation of Monthly Trustee's Statements attached as Exhibit 99.3 hereto, the gross servicing compensation paid to the Servicer for the year ended December 31, 1997 was $1,983,097. ITEM 9 - Changes in and Disagreements with Accountants on Accounting and Financial Disclosure There were no changes of accountants or disagreements on accounting or financial disclosures between the Issuer and its accountants. PART III ITEM 10 - Directors and Executive Officers of the Registrant Not applicable. ITEM 11 - Executive Compensation Not applicable. ITEM 12 - Security Ownership of Certain Beneficial Owners and Management The following table sets forth (i) the name and address of each entity owning more than 5% of the outstanding principal amount of each Class of Certificates of the Trust; (ii) the principal amount of the Class of Certificates owned by each and (iii) the percent that the principal amount of the Class of Certificates owned by such entity represents of the outstanding principal amount of such Class of Certificates. The information set forth in the table for the Certificates is based upon information obtained by the Trust from DTC and represents ownership of beneficial interest in the Certificates held by DTC. The Depositor is not aware of any Schedules 13D or 13G filed with the Securities and Exchange Commission in respect of the Certificates. -3- Amount Owned Name and Address All Dollar Amounts Are in Thousands Principal Percent --------- ------- Class A-1 Certificates Boston Safe Deposit and Trust Company $70,270 29.90% C/O Mellon Bank N.A Three Mellon Bank Center, Rm 153-3015 Pittsburgh, PA 15259 Comerica Bank 15,000 6.38 Detroit, MI 48275-3530 Northern Trust Company 14,000 5.96 801 S. Canal C-IN Chicago, Il 60607 PNC Bank, NA 36,000 15.32 1835 Market Street 11 Penn Center, 15th Floor Philadelphia, PA 19103 SSB-Custodian 64,975 27.65 Global Corp Action Dept JAB5W P.O. Box 1631 Boston, MA 02105-1631 Class A-2 Certificates Chase Manhattan Bank $86,500 52.11% 4 New York Plaza 13th Floor New York, NY 10004 Norwest Bank Minnesota, NA 14,000 8.43 733 Marquette Avenue Minneapolis, MN 55479-0056 PNC Bank, NA 9,000 5.42 1835 Market Street 11 Penn Center, 15th Floor Philadelphia, PA 19103 -4- Republic National Bank of New York 13,000 7.83 Investment Account One Hanson Place, Lower Level Brooklyn, NY 11243 SSB Custodian 24,500 14.76 Global Corp Action Dept JAB5W P.O. Box 1631 Boston, MA 02105-1631 Class A-3 Certificates Bank of New York $40,260 13.11% 925 Patterson Plank Rd Secaucus, NJ 07094 Bankers Trust Company 52,940 17.24 c/o BT Services Tennessee, Inc. 648 Grassmere Park Road Nashville, TN 37211 Chase Manhattan 95,115 30.98 4 New York Plaza 13th Floor New York, NY 10004 Corestates Bank, N.A 23,845 7.77 P.O. Box 7618 F.C. #1-9-1-21 Philadelphia, PA 19106-7618 Merrill Lynch, Pierce, Fenner & Smith, Inc. 20,000 6.52 Debt Sec 4 Corporate Place Corporate Park 287 Piscataway, NJ 08855 SSB Custodian 29,345 9.56 Global Corp Action Dept JAB5W P.O. Box 1631 Boston, MA 02105-1631 -5- Class A-4 Certificates Bank of New York $ 6,000 6.00% 925 Patterson Plank Rd Secaucus, NJ 07094 Bank One Trust Company N.A 63,650 63.65 Public Employee Retirement 277 East Town Street Columbus, OH 43215 Chase Manhattan Bank 15,000 15.00 4 New York Plaza 13th Floor New York, NY 10004 First Union National Bank 5,350 5.35 401 South Tryon Street Charlotte, NC 28288 Mercantile Bank of St. Louis 8,000 8.00 National Association Bond P.O. Box 349 St. Louis, MO 63166 Class A-5 Certificates Boston Safe Deposit & Trust Co. $52,950 40.11% c/o Mellon Bank N.A Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259 Chase Manhattan Bank 8,750 6.63 4 New York Plaza 13th Floor New York, NY 10004 Comerica Bank 12,800 9.70 Detroit, MI 48275-3530 PNC Bank, NA 11,900 9.02 1835 Market Street 11 Penn Center, 15th Floor Philadelphia, PA 19103 SSB-Custodian 28,350 21.48 Global Corp Action Dept JAB5W P.O. Box 1631 Boston, MA 02105-1631 -6- Class A-6 Certificates Bank of New York $ 5,850 15.00% 925 Patterson Plank Road Secaucus, NJ 07094 Bankers Trust Company 7,900 20.26 C/O BT Services Tennessee Inc. 648 Grassmere Park Drive Nashville, TN 37211 Chase Manhattan Bank 8,000 20.51 4 New York Plaza 13th Floor New York, NY 10004 Corestates Bank, N.A 2,000 5.13 P.O. Box 7618 F.C. #1-9-1-21 Philadelphia, PA 19106-7618 First Union National Bank 2,550 6.54 401 South Tryon Street Charlotte, NC 28288 Northern Trust Company 7,700 19.74 801 S. Canal C-IN Chicago, IL 60607 SSB-Custodian 3,000 7.69 Global Corp Action Dept JAB5W P.O. Box 1631 Boston, MA 02105-1631 Class A-7 Certificates Bank of New York $17,400 18.27% 925 Patterson Plank Road Secaucus, NJ 07094 Bankers Trust Company 7,000 7.35 c/o BT Services Tennessee, Inc. 648 Grassmere Park Road Nashville, TN 37211 -7- Citibank 10,000 10.50 P.O. Box 30576 Tampa, FL 33630-3576 Merrill Lynch, Pierce, Fenner & Smith, Inc. 25,000 26.25 Debt Securities 4 Corporate Place Corporate Park 287 Piscataway, NJ 08855 Norwest Bank Minnesota, NA 6,000 6.30 733 Marquette Avenue Minneapolis, MN 55479-0056 Northern Trust Company 9,000 9.45 801 S. Canal C-IN Chicago, IL 60607 SSB-Custodian 19,750 20.74 Global Corp Action Dept JAB5W P.O. Box 1631 Boston, MA 02105-1631 Class A-8 Certificates Bear Stearns Securities Corp. $12,000 8.73% One Metrotech Center North 4th Floor Brooklyn, NY 11201-3862 Chase Manhattan Bank 12,000 8.73 4 New York Plaza 13th Floor New York, NY 10004 Daiwa Securities America Inc. 24,000 17.45 Financial Square 32 Old Slip, 14th Floor New York, NY 10005 Merrill Lynch, Pierce Fenner & Smith 66,026 48.02 Safekeeping 4 Corporate Place Corporate Park 287 Piscataway, NJ 08855 Merrill Lynch, Pierce Fenner & Smith , Inc. 23,474 17.07 Debt Securities 4 Corporate Place Corporate Park 287 Piscataway, NJ 08855 -8- Class A-9 Certificates Bankers Trust Company $40,000 14.95% C/O Bt Services Tennessee Inc. 648 Grassmere Park Drive Nashville, TN 37211 Firststar Trust Company 25,000 9.35 777 E. Wisconsin Avenue Milwaukee, WI 53202 Lewco Securities Corp. 25,900 9.68 34 Exchange Pl. Plaza, 4th Floor Jersey City, NJ 07311-3988 LBI-Lehman Government Securities Inc. 25,000 9.35 200 Vesey Street New York, NY 10285 Merrill Lynch, Pierce Fenner & Smith 87,050 32.54 Safekeeping 4 Corporate Place Corporate Park 287 Piscataway, NJ 08855 Class B Certificates Boston Safe Deposit and Trust Company $30,000 65.57% C/O Mellon Bank, N.A Three Mellon Bank Center, Room 153-3015 Pittsburgh, PA 15259 Northern Trust Company 15,750 34.43 801 S. Canal C-IN Chicago, IL 60607 Class A-7-IO Bankers Trust Company $ 9,250(1) 9.71% C/O BT Services Tennessee Inc. 648 Grassmere Park Drive Nashville, TN 37211 -9- Boston Safe Deposit and Trust Company 13,000(1) 13.65 C/O Mellon Bank N.A Three Mellon Bank Center, Room 153-3015 Pittsburgh, PA 15259 Chase Manhattan 20,000(1) 21.00 4 New York Plaza 13th Floor New York, NY 10004 Citibank 20,250(1) 21.26 P.O. Box 30576 Tampa, FL 33630-3576 Fiduciary SSB 9,000(1) 9.45 108 Myrtle Street Newport Office Bldg N. Quincy, MA 02171 First Union Bank National Bank 10,000(1) 10.51 401 South Tryon Street Charlotte, NC 28288 Northern Trust Company 5,000(1) 5.25 801 S. Canal C-IN Chicago, IL 60607 First Bank NA 5,000(1) 5.25 C/O Ice Proxy Services 71 Executive Blvd Farmingdale, NY 11735 (1) Represents the "Notional Principal Amount" of the Certificates which is based on the aggregate outstanding Certificate Principal Balance of the Certificates. ITEM 13 - Certain Relationships and Related Transactions None PART IV -10- ITEM 14 - Exhibits, Financial Statement Schedules and Reports on Form 8-K (a) The following documents are filed as part of this report: 1. Financial Statements: Not applicable. 2. Financial Statement Schedules: Not applicable. 3. Exhibits: Exhibit No. Description ----------- ----------- 99.1 Statement of Compliance of the Servicer. 99.2 Annual Report of Independent Accountants with respect to the Servicer's overall servicing operations. 99.3 Annual compilation of Monthly Trustee's Statement. b) Reports on Form 8-K. 3 reports on Form 8-K has been filed by the Issuer during the period covered by this report. Date of Report on Form 8-K Items Reported/Financial Statements Filed November 15, 1997 Trustee's Monthly Report for the October Monthly Period. Decemeber 15, 1997 Trustee's Monthly Report for the November Monthly Period. January 15, 1997 Trustee's Monthly Report for the December. -11- SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Depositor has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized. By: CONTISECURITIES ASSET FUNDING CORP., AS DEPOSITOR By: /s/ Peter Abeles ----------------------------- Name: Peter Abeles Title: President By: /s/ Robert Riedl ----------------------------- Name: Robert Riedl Title: Vice President, Secretary & Treasurer Date: March 31, 1998 -12- INDEX TO EXHIBITS Item 14(a)3. Exhibit No. Description 99.1 Statement of Compliance of the Servicer. 99.2 Annual Report of Independent Accountants with respect to the Servicer's overall servicing operations. 99.3 Annual compilation of Monthly Trustee's Statement. -13- EX-99.1 2 STATEMENT OF COMPLIANCE OF THE SERVICER Exhibit 99.1 CONTIMORTGAGE One Contipark 338 Warminster Road Hatboro, PA 19040-3430 (215) 347-3000 March 17, 1998 ContiSecurities Asset Funding Corporation 277 Park Avenue New York, NY 10172 RE: CMC Home Equity Loan Trust 1997-4 Dear Sirs: In accordance with Section 8.16 of the Pooling and Servicing Agreement, ContiMortgage Corporation, as Servicer, confirms that as of December 31, 1997: (i) we have completed a review of the activities of the Servicer during the year ended December 31, 1997, and of performance under the Pooling and Servicing Agreement has been made under my supervision; (ii) to the best of my knowledge, based on such review, the Servicer has fulfilled all its obligations under the Pooling and Servicing Agreement for the year ended December 31, 1997. Sincerely yours, /s/ Margaret M. Curry --------------------- Margaret M. Curry Sr. Vice President - Servicing EX-99.2 3 ANNUAL REPORT OF INDEPENDENT ACCOUNTANTS Exhibit 99.2 ARTHUR ANDERSEN CONTIMORTGAGE CORPORATION UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS FOR THE YEAR ENDED DECEMBER 31, 1997 TOGETHER WITH AUDITORS' REPORT ARTHUR ANDERSEN LLP Independent Accountants' Report To the Board of Directors of ContiMortgage Corporation: We have examined management's assertion about ContiMortgage Corporation's compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) and that ContiMortgage Corporation had in effect a fidelity bond and errors and omissions policy in the amount of $14,000,000 and $6,000,000 as of December 31, 1997, included in the accompanying management assertion. Management is responsible for ContiMortgage Corporation's compliance with those minimum servicing standards and for maintaining a fidelity bond and errors and omissions policy. Our responsibility is to express an opinion on management's assertion about the entity's compliance with the minimum servicing standards and maintenance of a fidelity bond and errors and omissions policy 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 ContiMortgage Corporation'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 ContiMortgage Corporation's compliance with the minimum servicing standards. In our opinion, management's assertion that ContiMortgage Corporation complied with the aforementioned minimum servicing standards and that ContiMortgage Corporation had in effect a fidelity bond and errors and omissions policy in the amount of $14,000,000 and $6,000,000 as of December 31, 1997, is fairly stated, in all material respects. /s/ Arthur Andersen LLP New York, New York March 11, 1998 ContiMortgage One ContiPark 338 S. Warminster Road Hatboro, PA. 19040-3430 (215) 347-3000 As of and for the year ended December 31, 1997, ContiMortgage Corporation has complied with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers. As of December 31,1997 ContiMortgage Corporation had in effect fidelity bond and errors and omissions policy in the amounts of $14,000,000 and $6,000,000, respectively. /s/ Margaret M. Curry /s/ William P. Higgins - -------------------------------- ---------------------------------- Margaret M.Curry William P. Higgins Sr. Vice President - Servicing Vice President and Controller March 11, 1998 March 11, 1998 EX-99.3 4 ANNUAL COMPILATION OF MONTHLY TRUSTEE'S STATEMENT. ContiMortgage Corporation Home Equity Loan Pass-Through Certificates Series 1997-4 CERTIFICATE HOLDER'S REPORT ANNUAL STATEMENT Year Ending: December 31, 1997
Original Beginning Ending Planned Certificate Certificate Principal Interest Total Certificate Principal CUSIP Class Face Value Balance Distribution Distribution Distribution Balance Balance 21075WFT7 A-1 235,000,000.00 235,000,000.00 43,683,203.28 3,083,378.96 46,766,582.24 191,316,796.72 188,491,295.50 21075WFU4 A-2 166,000,000.00 166,000,000.00 0.00 2,255,110.00 2,255,110.00 166,000,000.00 166,000,000.00 21075WFV2 A-3 307,000,000.00 307,000,000.00 0.00 4,163,943.34 4,163,943.34 307,000,000.00 307,000,000.00 21075WFW0 A-4 100,000,000.00 100,000,000.00 0.00 1,365,000.00 1,365,000.00 100,000,000.00 100,000,000.00 21075WFX8 A-5 132,000,000.00 132,000,000.00 0.00 1,841,840.00 1,841,840.00 132,000,000.00 132,000,000.00 21075WFY6 A-6 39,000,000.00 39,000,000.00 0.00 550,095.00 550,095.00 39,000,000.00 39,000,000.00 21075WFZ3 A-7 95,250,000.00 95,250,000.00 0.00 1,368,266.25 1,368,266.25 95,250,000.00 95,250,000.00 21075WGA7 A-8 137,500,000.00 137,500,000.00 0.00 1,804,993.06 1,804,993.06 137,500,000.00 21075WGC3 A-9 267,500,000.00 267,500,000.00 0.00 3,396,135.42 3,396,135.42 267,500,000.00 21075WGB5 B 45,750,000.00 45,750,000.00 0.00 726,586.25 726,586.25 45,750,000.00 C 0.00 0.00 0.00 11,983,733.88 11,983,733.88 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Total 1,525,000,000.00 1,525,000,000.00 43,683,203.28 32,539,082.16 76,222,285.44 1,481,316,796.72
Notional Notional Principal Interest Total Notional Class Amount Amount Distribution Distribution Distribution Amount 21075WGD1 A-7IO 95,250,000.00 95,250,000.00 0.00 1,754,187.50 1,754,187.50 95,250,000.00
AMOUNTS PER $1,000 UNIT PASS THROUGH RATES Ending Principal Interest Total Certificate Original Pass Current Pass CUSIP Class Distribution Distribution Distribution Balance Class Thru Rate Thru Rate 21075WFT7 A-1 185.88597140 13.12076153 199.00673294 814.11402860 A-1 6.37000% 6.37000% 21075WFU4 A-2 0.00000000 13.58500000 13.58500000 1,000.00000000 A-2 6.27000% 6.27000% 21075WFV2 A-3 0.00000000 13.56333336 13.56333336 1,000.00000000 A-3 6.26000% 6.26000% 21075WFW0 A-4 0.00000000 13.65000000 13.65000000 1,000.00000000 A-4 6.30000% 6.30000% 21075WFX8 A-5 0.00000000 13.95333333 13.95333333 1,000.00000000 A-5 6.44000% 6.44000% 21075WFY6 A-6 0.00000000 14.10500000 14.10500000 1,000.00000000 A-6 6.51000% 6.51000% 21075WFZ3 A-7 0.00000000 14.36500000 14.36500000 1,000.00000000 A-7 6.63000% 6.63000% 21075WGA7 A-8 0.00000000 13.12722225 13.12722225 1,000.00000000 A-7IO 8.50000% 8.50000% 21075WGC3 A-9 * 0.00000000 317.39583364 317.39583364 25,000.00000000 A-8 5.83625% 5.86750% 21075WGB5 B 0.00000000 15.88166667 15.88166667 1,000.00000000 A-9 5.63000% 5.69000% B 7.33000% 7.33000% Total 28.64472346 13.47891690 42.12364037 971.35527654 * Class A-9 Amounts Per $25,000 Unit. LIBOR: 5.68750% AUCTION RATE: 5.69000%
Ending Principal Interest Total Notional CUSIP Class Distribution Distribution Distribution Amount 21075WGD1 A-7IO 0.00000000 18.41666667 18.41666667 1,000.00000000
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR: Neil Witoff M & T Corporate Trust Department One M & T Plaza-7th Floor Buffalo, NY 14240
Total Principal Scheduled Overcollateralization Distribution Principal Prepayments Liquidations Inc/(Red) Total SEC. 7.09(a)(ii) Class A-1 2,292,681.67 40,681,116.28 677,685.00 31,720.33 43,683,203.28 Per $1000 Unit 9.75609221 173.11113311 2.88376596 0.13498013 185.88597140 Class A-2 0.00 0.00 0.00 0.00 0.00 Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Class A-3 0.00 0.00 0.00 0.00 0.00 Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Class A-4 0.00 0.00 0.00 0.00 0.00 Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Class A-5 0.00 0.00 0.00 0.00 0.00 Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Class A-6 0.00 0.00 0.00 0.00 0.00 Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Class A-7 0.00 0.00 0.00 0.00 0.00 Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Class A-8 0.00 0.00 0.00 0.00 0.00 Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Class A-9 * 0.00 0.00 0.00 0.00 0.00 Per $25,000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Class B 0.00 0.00 0.00 0.00 0.00 Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Total 2,292,681.67 40,681,116.28 677,685.00 31,720.33 43,683,203.28 Per $1000 Unit 1.50339782 26.67614182 0.44438361 0.02080022 28.64472346 * Class A-9 Amounts Per $25,000 Unit.
SEC. 7.09(a)(iv) Total Certificate Interest Carry-Forward Amount 0.00 Class A-1 Interest Carry-Forward Amount 0.00 Class A-2 Interest Carry-Forward Amount 0.00 Class A-3 Interest Carry-Forward Amount 0.00 Class A-4 Interest Carry-Forward Amount 0.00 Class A-5 Interest Carry-Forward Amount 0.00 Class A-6 Interest Carry-Forward Amount 0.00 Class A-7 Interest Carry-Forward Amount 0.00 Class A-7IO Interest Carry-Forward Amount 0.00 Class A-8 Interest Carry-Forward Amount 0.00 Class A-9 Interest Carry-Forward Amount 0.00 Class B Interest Carry-Forward Amount 0.00
Group I Group II Total SEC. 7.09(a)(vi) Outstanding Loan Balance: 1,085,798,074.20 395,518,722.52 1,481,316,796.72 Prepayments (including Curtailments and Purchased Principal) 28,054,558.09 6,627,498.70 34,682,056.79 Liquidation Proceeds applied to principal 4,544,246.00 2,581,009.72 7,125,255.72 SEC. 7.09(a)(vii) Code Section 6049(d)(7)(C) Information-Required Market Discount Information Provided at Calendar Year End. Group I Group II Total SEC. 7.09(a)(viii) Loan Purchase Prices 277,219.74 20,756.40 Substitution Amounts 0.00 0.00 SEC. 7.09(a)(ix) Weighted Average Coupon 11.3481% 10.3438% 11.0812% SEC. 7.09(a)(x) Delinquency Trigger Event Occurrence NO Cumulative Realized Loss Trigger Event Occurrence NO SEC. 7.09(a)(xi) Senior Enhancement Percentage 3.0885% SEC. 7.09(a)(xii) Overcollateralization Amount 0.00 SEC. 7.09(a)(xiii) Applied Realized Realized Loss Unpaid Realized Loss Amount Amortization Amount Loss Amount Class B 0.00 0.00 0.00 SEC. 7.09(a)(xv) Available Funds Cap 9.43690% SEC. 7.09(a)(xvi) Insured Payment 0.00 SEC. 7.09(a)(xvii) Reimbursement Amount Paid 0.00 Remaining Reimbursement Amount Unpaid 0.00 SEC. 7.09(a)(xix) Largest Home Equity Loan Balance Outstanding 449,720.37 SEC. 7.09(a)(xx) Amount Remaining in the Auction Remainder Account 0.00
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SEC. 7.09(b)(ii) Delinquencies(1) Period Number Percentage Prin. Balance Percentage 30-59 Days 624 3.45840% 35,357,354.05 3.25635% Group I 60-89 Days 202 1.11955% 11,999,493.00 1.10513% 90+ Days 175 0.96991% 10,084,210.70 0.92874% 30-59 Days 110 2.59924% 8,732,888.23 2.20796% Group II 60-89 Days 32 0.75614% 2,983,837.85 0.75441% 90+ Days 25 0.59074% 2,553,818.37 0.64569% 30-59 Days 734 3.29517% 44,090,242.28 2.97642% TOTAL 60-89 Days 234 1.05051% 14,983,330.85 1.01149% 90+ Days 200 0.89787% 12,638,029.07 0.85316% Total Fixed 18043 100.00000% 1,085,798,074.20 100.00000% Total Adjust. 4232 100.00000% 395,518,722.52 100.00000% Total 22275 100.00000% 1,481,316,796.72 100.00000%
(1) Includes Bankruptcies, Foreclosures and REOs ; Based on each respective Group's loan count and balance.
Group I Group II Total SEC. 7.09(b)(iii) Loans in Foreclosure (LIF): Count 59 7 66 Loans in Foreclosure (LIF): Balance 3,638,779.41 838,000.77 4,476,780.18 Newly Commenced LIF: Count 29 5 34 Newly Commenced LIF: Balance 1,884,634.36 584,374.14 2,469,008.50 SEC. 7.09(b)(iv)(a) Loans in Bankruptcy: Count 25 6 31 Loans in Bankruptcy: Balance 1,511,857.70 445,445.27 1,957,302.97 SEC. 7.09(b)(iv)(b) Balloon Loans: Count 10718 4 10722 Balloon Loans: Balance 754,094,475.04 398,661.31 754,493,136.35 SEC. 7.09(b)(v&vi) REO Properties: Count 1 0 1 REO Properties: Balance 106,780.77 0.00 106,780.77 SEC. 7.09(b)(vii) Cumulative Realized Losses 39,243.95 10,300.00 49,543.95 SEC. 7.09(b)(viii) Loan Balance of 60+ Day Delinquent Loans 27,621,359.92 SEC. 7.09(b)(ix) Three-Month Rolling Average of 60+ Day Delinquency Rate 1.03633% SEC. 7.08(a)(1) Amount on Deposit in the Certificate Account 78,372,421.60
SEC. 7.08(a)(2)(4) Amount Due Amount Paid Class A-1 Allocation 46,766,582.24 46,766,582.24 Class A-2 Allocation 2,255,110.00 2,255,110.00 Class A-3 Allocation 4,163,943.34 4,163,943.34 Class A-4 Allocation 1,365,000.00 1,365,000.00 Class A-5 Allocation 1,841,840.00 1,841,840.00 Class A-6 Allocation 550,095.00 550,095.00 Class A-7 Allocation 1,368,266.25 1,368,266.25 Class A-7IO Allocation 1,754,187.50 1,754,187.50 Class A-8 Allocation 1,804,993.06 1,804,993.06 Class A-9 Allocation 3,396,135.42 3,396,135.42 Class A Distribution Amount 65,266,152.81 65,266,152.81 Class B Allocation 726,586.25 726,586.25 SEC. 7.08(a)(3) Insured Payment made by the Certificate Insurer 0.00
SEC. 7.08(a)(5) Beginning Principal Ending Class Balance * Distribution Balance * A-1 235,000,000.00 43,683,203.28 191,316,796.72 A-2 166,000,000.00 0.00 166,000,000.00 A-3 307,000,000.00 0.00 307,000,000.00 A-4 100,000,000.00 0.00 100,000,000.00 A-5 132,000,000.00 0.00 132,000,000.00 A-6 39,000,000.00 0.00 39,000,000.00 A-7 95,250,000.00 0.00 95,250,000.00 A-7IO 95,250,000.00 NA 95,250,000.00 A-8 137,500,000.00 0.00 137,500,000.00 A-9 267,500,000.00 0.00 267,500,000.00 B 45,750,000.00 0.00 45,750,000.00 * Denotes Notional Amounts for Class A-7IO. SEC. 7.08(a)(6) Current Period Realized Losses (Recoveries) 18,231.32 Cumulative Realized Losses 49,543.95 SEC. 7.08(a)(7) Loan Balance of 60+ Day Delinquent Loans 27,621,359.92 Three-Month Rolling Average of 60+ Day Delinquency Rate 1.03633%
REO Status SEC. 7.09(b)(v&vi) Loan Number Book Value Status 8195764 $324,080.77 Listed 3821188 $ 36,940.28 Listed 4272340 $ 33,673.67 Eviction 4431532 $ 62,218.98 New File (Setup) 4435384 $ 23,831.90 New File (Setup) 4463048 $106,780.77 List Pending 4526018 $ 26,232.00 Listed 4912549 $103,275.00 Not Provided 4532933 $197,124.95 New File (Setup) Insurer's Report Distribution Period: * Monthly Excess Cashflow Amount 11,977,355.80 * Premium paid from cash flow (1) 218,196.00 * Trustee Fee paid from cash flow (1) 4,974.88 * Auction Agent Fee (Incl. Broker Dealer Fee) 172,777.78 * Interest Collected on Mortgage Loans (net of Service Fee) 34,682,840.24 * Current Period Realized Losses: Principal 30,688.69 Interest 18,855.26 (1) Allocated based upon the related Certificate Balances. -----END PRIVACY-ENHANCED MESSAGE-----