-----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, RkjjT+Zp/JU9AqjeWvIZvbDoq1nQ1EOP/bSnbaq9z/FSPN2GOMhtyHjXF/kxfYxO ZmVmNeTBer8/HPICdl9acA== 0000950144-00-015093.txt : 20001220 0000950144-00-015093.hdr.sgml : 20001220 ACCESSION NUMBER: 0000950144-00-015093 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001207 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20001219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MANUFACTURED HOUS CONT SEN SUB PASS THR CERT SERIES 2000B CENTRAL INDEX KEY: 0001115913 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 620997810 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-75405-06 FILM NUMBER: 791958 BUSINESS ADDRESS: STREET 1: 500 ALOCA TRAIL CITY: MARYVILLE STATE: TN ZIP: 37804 BUSINESS PHONE: 4233803000 MAIL ADDRESS: STREET 1: 500 ALOCA TRAIL CITY: MARYVILLE STATE: TN ZIP: 37804 8-K 1 g65981be8-k.txt VANDERBILT MORTGAGE AND FINANCE, INC.-SERIES 2000B 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934 Date of Report (Date of earliest event reported): December 7, 2000 Vanderbilt Mortgage and Finance, Inc. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Tennessee - -------------------------------------------------------------------------------- (State or other jurisdiction of incorporation or organization) 333-75405-06 62-0997810 - -------------------------------------------------------------------------------- (Commission File Number) (IRS Employer Identification No.) Vanderbilt Mortgage and Finance, Inc. 500 Alcoa Trail Maryville, TN 37804 - -------------------------------------------------------------------------------- (Address of principal executive offices and zip code) Registrant's telephone number, including area code: 865-380-3000 - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) 2 Item 5. Other Events For the Remittance Date of December 7, 2000, The Chase Manhattan Bank, as Trustee, made the monthly distributions to the holders of the Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 2000B. Item 7. Financial Statements and Exhibits (c) Exhibits. The following are filed herewith. The exhibit numbers correspond with Item 601(b) of Regulation S-K. Exhibit No. Description Page ----------- ----------- ---- 20 Monthly Report delivered by 3 the Trustee to Certificateholders in connection with the distributions on the Remittance Date specified in Item 5 above. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VANDERBILT MORTGAGE AND FINANCE, INC., as Servicer By: /s/ David R. Jordan ---------------------------------------- Name: David R. Jordan Title: Secretary Dated: December 7, 2000 EX-20 2 g65981bex20.txt MONTHLY REPORT 1 Exhibit 20 Chase Bank, Trustee Determination Date: 04-Dec-00 Manufactured Housing Contracts Remittance Date: 07-Dec-00 Senior/Subordinated Pass-Through Certificates Series 2000 B For the Period Ended: 25-Nov-00 Lock-Out Date: Jun-05
Information for Clauses (a) through (s), Section 7.01 - GROUP I Class I A-1 Class I A-2 Class I A-3 Class I A-4 (a) Class I A and Class I B Distribution Amounts 2,958,429.52 335,208.33 343,958.33 339,025.04 (b) Formula Principal Distribution Amount (a) Scheduled Principal Due 512,573.34 (b) Partial Prepayments Received 516,201.56 (c) Principal Payments in Full (Scheduled Balance) 1,563,729.90 (d) Liquidated Contract Scheduled Balance 0.00 (e) Section 3.05 Purchase Scheduled Balance 0.00 (f) Previously Undistributed Shortfalls in (a) through (e) 0.00 ------------- ------------- ------------ ------------- Total Principal Distribution 2,592,504.80 0.00 0.00 0.00 (c) Interest Distribution 365,924.72 335,208.33 343,958.33 339,025.04 Unpaid Interest Shortfall 0.00 0.00 0.00 0.00 ------------- ------------- ------------ ------------- Total Interest Distribution 365,924.72 335,208.33 343,958.33 339,025.04 (d) Beginning Class I A and Class I B Principal Balance 65,246,606.78 50,000,000.00 50,000,000.00 47,722,000.00 Less: Principal Distribution 2,592,504.80 0.00 0.00 0.00 ------------- ------------- ------------- ------------- Remaining Class A and Class B Principal Balance 62,654,101.98 50,000,000.00 50,000,000.00 47,722,000.00 (e) Fees Due Servicer Monthly Servicing Fee 281,409.39 (h) Pool Factor Section 8.06 Reimbursement Amount 0.00 Class I A-1 0.77350743 Section 6.02 Reimbursement Amount 120,309.75 Class I A-2 1.00000000 Reimburseable Fees 0.00 Class I A-3 1.00000000 ------------- Class I A-4 1.00000000 Total Fees Due Servicer 401,719.14 Class I A-5 1.00000000 Class I M-1 1.00000000 Class I B-1 1.00000000 Class I B-2 1.00000000 Information for Clauses (a) through (s), Section 7.01 - GROUP I Class I A-5 Class I M-1 Class I B-1 Class I B-2 (a) Class I A and Class I B Distribution Amounts 103,817.44 84,967.38 88,160.21 154,285.46 (b) Formula Principal Distribution Amount (a) Scheduled Principal Due (b) Partial Prepayments Received (c) Principal Payments in Full (Scheduled Balance) (d) Liquidated Contract Scheduled Balance (e) Section 3.05 Purchase Scheduled Balance (f) Previously Undistributed Shortfalls in (a) through (e) ------------- ------------ ------------- ------------- Total Principal Distribution 0.00 0.00 0.00 0.00 (c) Interest Distribution 103,817.44 84,967.38 88,160.21 154,285.46 Unpaid Interest Shortfall 0.00 0.00 0.00 0.00 ------------- ------------ ------------- ------------- Total Interest Distribution 103,817.44 84,967.38 88,160.21 154,285.46 (d) Beginning Class I A and Class I B Principal Balance 14,295,000.00 11,437,000.00 11,437,000.00 20,015,411.00 Less: Principal Distribution 0.00 0.00 0.00 0.00 ------------- ------------- ------------- ------------- Remaining Class A and Class B Principal Balance 14,295,000.00 11,437,000.00 11,437,000.00 20,015,411.00 (e) Fees Due Servicer Monthly Servicing Fee Original Balance Rate Section 8.06 Reimbursement Amount 81,000,000.00 6.7300% 6.6200% Libor Section 6.02 Reimbursement Amount 50,000,000.00 8.0450% 0.11% Spread Reimburseable Fees 50,000,000.00 8.2550% 47,722,000.00 8.5250% Total Fees Due Servicer 14,295,000.00 8.7150% 11,437,000.00 8.9150% 11,437,000.00 9.2500% 20,015,411.00 9.2500% Information for Clauses (a) through (s), Section 7.01 - GROUP I (a) Class I A and Class I B Distribution Amounts (b) Formula Principal Distribution Amount (a) Scheduled Principal Due (b) Partial Prepayments Received (c) Principal Payments in Full (Scheduled Balance) (d) Liquidated Contract Scheduled Balance (e) Section 3.05 Purchase Scheduled Balance (f) Previously Undistributed Shortfalls in (a) through (e) Total Principal Distribution 1,815,346.91 (c) Interest Distribution 1,993,274.39 Unpaid Interest Shortfall Total Interest Distribution When (d) Beginning Class I A and Class I B Principal Balance 267,560,512.98 Less: Principal Distribution 2,592,504.80 is less than 285,906,411.00 Remaining Class A and Class B Principal Balance 0.10 28,590,641.10 (e) Fees Due Servicer We can prepay Monthly Servicing Fee Rate Section 8.06 Reimbursement Amount Class A-1 6.730% 65,246,606.78 4,391,097 Section 6.02 Reimbursement Amount Class A-2 8.045% 50,000,000.00 4,022,500 Reimburseable Fees Class A-3 8.255% 50,000,000.00 4,127,500 Class A-4 8.525% 47,722,000.00 4,068,301 Total Fees Due Servicer Class A-5 8.715% 14,295,000.00 1,245,809 Class A-6 8.915% 11,437,000.00 1,019,609 Class B-1 9.250% 11,437,000.00 1,057,923 Class B-2 9.250% 20,015,411.00 1,851,426 270,153,017.78 21,784,163 8.06%
2 Chase Bank, Trustee Determination Date: 04-Dec-00 Manufactured Housing Contracts Remittance Date: 07-Dec-00 Senior/Subordinated Pass-Through Certificates Series 2000 B For the Period Ended: 25-Nov-00 Lock-Out Date: Jun-05
Unpaid Unpaid No. of Principal Delinquency as No. of Principal (f) Delinquency as of the Due Period Contracts Balance of Calendar Month Contracts Balance 31-59 Days Delinquent 398 12,158,295 31-59 Days Delinquent 299 9,250,263 60-89 Days Delinquent 83 2,449,408 60-89 Days Delinquent 58 1,764,723 90+ Days Delinquent 102 3,461,465 90+ Days Delinquent 99 3,330,366 3-Month Avg Thirty-Day Delinquency Ratio 4.35% 3-Month Avg Thirty-Day 3-Month Avg Sixty-Day Delinquency Ratio 2.00% Delinquency Ratio 3.00% 3-Month Avg Sixty-Day (g) Section 3.05 Repurchases 0.00 Delinquency Ratio 1.75% (i) Class R Distribution Amount 0.00 Acquisition Loss Amount Reposession Profits 0.00 Current Month Acquisition Loss Amount 136,177 (j) Principal Balance of Contracts in Repossession 1,310,177.91 Cumulative Acquisition Loss Amount 217,613 (k) Aggregate Net Liquidation Losses 0.00 (l) (x) Class B-2 Formula Distribution Amount 154,285.46 (y) Remaining Amount Available 332,212.94 ------------ Amount of (x) over (y) 0.00 (m) Class B-2 Liquidation Loss Amount 0.00 (n) Guarantee Payment 0.00 (o) Unadvanced Shortfalls 0.00 No. $ (p) Units repossessed 18 431,767.41 (q) Principal Prepayments paid 2,079,931.46 (r) Scheduled Principal Payments 512,573.34 (s) Weighted Average Interest Rate 11.37%
3 Chase Bank, Trustee Determination Date: 04-Dec-00 Manufactured Housing Contracts Remittance Date: 07-Dec-00 Senior/Subordinated Pass-Through Certificates Series 2000 B For the Period Ended: 25-Nov-00 Lock-Out Date: Jun-05
Computation of Available Distribution Amount (i) Certificate Account Balance at Monthly Cutoff-Vanderbilt 4,891,396.17 Certificate Account Balance at Monthly Cutoff-SubServicer-21st 262,659.86 (ii) Monthly Advance made 0.00 (iii) Section 5.05 Certificate Fund Income-Vanderbilt 20,522.35 (iii) Section 5.05 Certificate Fund Income-SubServicer-21st 1,139.09 (v) Principal due Holders 0.00 Less: (i) Scheduled Payments of principal and interest due subsequent to the Due Period-Vanderbilt 168,971.55 (i) Scheduled Payments of principal and interest due subsequent to the Due Period-SubServicer-21st 19,247.59 (ii) Due to the Servicer Pursuant to Section 6.02: (i) Section 3.05 Purchases (Due Seller) 0.00 (ii) Reimbursement for taxes from Liquidation Proceeds 0.00 (iii) Monthly Servicing Fee 281,409.39 (iv) Reimburseable Liquidation Expenses 120,309.75 (v) Section 6.04 (c) reimbursement 0.00 (vi) Section 8.06 reimbursement 0.00 (vii) Amounts not required to be deposited-SubServicer-21st 0.00 Total Due Servicer 401,719.14 Available Distrubution Amount-Vanderbilt 4,341,227.83 Available Distrubution Amount-SubServicer-21st 244,551.36 To Class A and B 4,407,851.71 Monthly Excess Cashflow 177,927.48 Weighted Average Remaining Term (months) 227.00 Scheduled Balance Computation Prior Month Balance 270,153,017.78 Current Balance 267,710,072.74 Adv Principal 45,766.81 Del Principal 195,326.57 Pool Scheduled Balance 267,560,512.98 Principal Payments in Full 1,563,729.90 Partial Prepayments 516,201.56 Scheduled Principal 512,573.34 Collateral Balance 267,710,072.74
4 Chase Bank, Trustee Determination Date: 04-Dec-00 Manufactured Housing Contracts Remittance Date: 07-Dec-00 Senior/Subordinated Pass-Through Certificates Series 2000B For the Period Ended: 25-Nov-00 Lock-Out Date: Jun-05
Information for Clauses (v) through (ap), Section 7.01 - GROUP II Class II A-1 Class II B-1 Class II B-2 Class II B-3 (v) Class II A and Class II B Distribution Amounts 703,827.19 26,714.23 25,992.87 24,788.08 (w) Formula Principal Distribution Amount (a) Scheduled Principal Due 81,594.61 (b) Partial Prepayments Received 59,366.20 (c) Principal Payments in Full (Scheduled Balance) 318,564.97 (d) Liquidated Contract Scheduled Balance 0.00 (e) Section 3.05 Purchase Scheduled Balance 0.00 (f) Previously Undistributed Shortfalls in (a) through (e) 0.00 (g) Accelerated Principal Payment 0.00 ------------- ------------ ------------ ------------ Total Principal Distribution 459,525.78 0.00 0.00 0.00 (x) Interest Distribution 244,301.41 26,714.23 25,992.87 24,788.08 Unpaid Interest Shortfall 0.00 0.00 0.00 0.00 ------------- ------------ ------------ ------------ Total Interest Distribution 244,301.41 26,714.23 25,992.87 24,788.08 (y) Beginning Class I A and Class I B Principal Balance 42,610,711.52 4,471,000.00 3,577,000.00 3,279,570.00 Less: Principal Distribution 459,525.78 0.00 0.00 0.00 ------------- ------------ ------------ ------------ Remaining Class A and Class B Principal Balance 42,151,185.74 4,471,000.00 3,577,000.00 3,279,570.00 (z) Fees Due Servicer Monthly Servicing Fee 58,359.12 (ac) Pool Factor Original Balance Section 8.06 Reimbursement Amount 0.00 Class II A-1 0.87294839 48,286,000.00 Section 6.02 Reimbursement Amount 10,000.00 Class II B-1 1.00000000 4,471,000.00 Reimburseable Fees 0.00 Class II B-2 1.00000000 3,577,000.00 Class II B-3 1.00000000 3,279,570.00 ------------- Total Fees Due Servicer 68,359.12 Information for Clauses (v) through (ap), Section 7.01 - GROUP II (v) Class II A and Class II B Distribution Amounts (w) Formula Principal Distribution Amount (a) Scheduled Principal Due (b) Partial Prepayments Received (c) Principal Payments in Full (Scheduled Balance) (d) Liquidated Contract Scheduled Balance (e) Section 3.05 Purchase Scheduled Balance (f) Previously Undistributed Shortfalls in (a) through (e) (g) Accelerated Principal Payment Total Principal Distribution (x) Interest Distribution 321,796.59 Unpaid Interest Shortfall Total Interest Distribution When 53,478,755.74 (y) Beginning Class I A and Class I B Principal Balance is less than Less: Principal Distribution 459,525.78 59,613,570.00 X Remaining Class A and Class B Principal Balance 0.10 5,961,357.00 (z) Fees Due Servicer We can prepaid Monthly Servicing Fee Rate Libor Spread Section 8.06 Reimbursement Amount 6.8800% 6.6200% 0.26% 42,610,712 2,931,617 Section 6.02 Reimbursement Amount 7.1700% 0.55% 4,471,000 320,571 Reimburseable Fees 8.7200% 2.10% 3,577,000 311,914 9.0700% 2.45% 3,279,570 297,457 ----------------------- Total Fees Due Servicer 53,938,282 3,861,559 7.16%
5 Chase Bank, Trustee Determination Date: 04-Dec-00 Manufactured Housing Contracts Remittance Date: 07-Dec-00 Senior/Subordinated Pass-Through Certificates Series 2000B For the Period Ended: 25-Nov-00 Lock-Out Date: Jun-05
Unpaid Unpaid No. of Principal Delinquency as of No. of Principal (aa) Delinquency as of the Due Period Contracts Balance Calendar Month End ontracts Balance 31-59 Days Delinquent 39 1,768,745 31-59 Days Delinquent 16 661,089 60-89 Days Delinquent 4 196,658 60-89 Days Delinquent 3 155,302 90+ Days Delinquent 5 215,995 90+ Days Delinquent 5 215,995 3-Month Avg Thirty-Day Delinquency Ratio 2.76% 3-Month Avg Thirty-Day 3-Month Avg Sixty-Day Delinquency Ratio 0.77% Delinquency Ratio 1.16% 3-Month Avg Sixty-Day (ab) Section 3.05 Repurchases 0.00 Delinquency Ratio 0.70% (ad) Class R Distribution Amount 233,466.08 Reposession Profits 0.00 (ae) Principal Balance of Contracts in Repossession 0.00 (af) Aggregate Net Liquidation Losses 0.00 (ag) (x) Class B-3 Formula Distribution Amount 24,788.08 (y) Remaining Amount Available 55,538.60 ---------- Amount of (x) over (y) 0.00 (ah) Class B-2 Liquidation Loss Amount 0.00 (ai) Guarantee Payment 0.00 (aj) Unadvanced Shortfalls 0.00 No. $ (ak) Units repossessed 0 0.00 (al) Principal Prepayments paid 377,931.17 (am) Scheduled Principal Payments 81,594.61 (an) Weighted Average Interest Rate 9.97%
6 Chase Bank, Trustee Determination Date: 04-Dec-00 Manufactured Housing Contracts Remittance Date: 07-Dec-00 Senior/Subordinated Pass-Through Certificates Series 2000B For the Period Ended: 25-Nov-00 Lock-Out Date: Jun-05
Computation of Available Distribution Amount (i) Certificate Account Balance at Monthly Cutoff-Vanderbilt 920,033.88 (ii) Monthly Advance made 0.00 (iii) Section 5.05 Certificate Fund Income-Vanderbilt 3,536.71 (v) Principal due Holders 0.00 Less: (i) Scheduled Payments of principal and interest due subsequent to the Due Period-Vanderbilt 18,350.50 (ii) Due to the Servicer Pursuant to Section 6.02: (i) Section 3.05 Purchases (Due Seller) 0.00 (ii) Reimbursement for taxes from Liquidation Proceeds 0.00 (iii) Monthly Servicing Fee 58,359.12 (iv) Reimburseable Liquidation Expenses 10,000.00 (v) Section 6.04 (c) reimbursement 0.00 (vi) Section 8.06 reimbursement 0.00 (vii) Amounts not required to be deposited-SubServicer 0.00 Total Due Servicer 68,359.12 Available Distrubution Amount 836,860.97 To Class A and B - Scheduled Principal and Interest 781,322.37 Monthly Excess Cashflow Class II 55,538.60 Monthly Excess Cashflow Class I 177,927.48 Accelerated Principal Payment 0.00 Weighted Average Remaining Term (months) 252.00 Scheduled Balance Computation Prior Month Balance 56,024,756.48 Current Balance 55,585,323.70 Adv Principal 3,450.23 Del Principal 23,543.23 Pool Scheduled Balance 55,565,230.70 Principal Payments in Full 318,564.97 Partial Prepayments 59,366.20 Scheduled Principal 81,594.61 Collateral Balance 55,585,323.70 Overcollateralization Amount 2,086,475 Required Overcollateralization Amount 2,086,475
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