10-K/A 1 dlj007_10ka2002.txt DECEMBER 31, 2001 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A [X] Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the period from December 1, 2000 (Commencement of Operations) to December 31, 2001 [ ] 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 333-75921-08 DLJ MORTGAGE ACCEPTANCE CORP. (Exact name of registrant as specified in its charter) Delaware 13-3460894 (State or other jurisdiction of I.R.S. Employer incorporation or organization) Identification No.) c/o Donaldson Lufkin & Jenrette 277 Park Avenue, 9th Floor New York, New York 10172 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code : (212) 839-3000 DLJ MORTGAGE ACCEPTANCE CORP. DLJ ABS TRUST SERIES 2000-7 MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2000-7 (Title of each class of securities covered by this Form) Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark whether the registrant (1) has filed all reports required to be filed 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 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] Documents incorporated by reference: None Page 1 of 5 This report consists 12 of consecutively numbered pages. AMENDMENT NUMBER 1 OF 1 -2- DLJ MORTGAGE ACCEPTANCE CORP. DLJ ABS TRUST SERIES 2000-7 MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2000-7 ----------------------------------------------------------------------- PART IV 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: Omitted. (2) Financial Statement Schedules: Omitted. (3) Exhibits: Annual Servicer Statement of Compliance, filed as Exhibit 99.1 hereto. Annual Statement of Independent Accountants Report for the Servicer, filed as Exhibit 99.2 hereto. (b) Reports on Form 8-K: The following Current Reports on Form 8-K were filed by the Registrant during the last quarter of 2001. Current Reports on Form 8-K, dated October 25, 2001, November 26, 2001, and December 26, 2001, were filed for the purpose of filing the Monthly Statement sent to the Holders of the Offered Certificates for payments made on the same dates. The items reported in such Current Report were Item 5 (Other Events). (c) Exhibits to this report are listed in Item (14)(a)(3) above. -3- SIGNATURE Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. JPMORGAN CHASE BANK, not in its individual capacity but solely as Trustee under the Agreement referred to herein Date: August 23, 2002 By: /s/ Thomas M. Britt ----------------------------- Thomas M. Britt Trust Officer -4- EXHIBIT INDEX Exhibit Description Page 99.1 Servicer's Annual Statement of Compliance 6 and Officers' Certification 99.2 Servicer's Annual Independent Accountant's Report 10 -5- EXHIBIT 99.1 Servicer's Annual Statement of Compliance and Officers' Certification -6- Wilshire Financial Services Group Inc. 1776 SW Madison Street Portland, Oregon 97205 Tel: 503.223.5600 Fax: 503.952.7476 www.wfsg.com MANAGEMENT'S ASSERTION ON MINIMUM SERVICING STANDARDS As of and for the year ended December 31, 2001, Wilshire Credit Corporation has complied in all material respects with the minimum servicing standards set forth in the Mortgage Banker's Association of America's Uniform Single Attestation Program for Mortgage Bankers. As of and for this same period, Wilshire Credit Corporation had in effect a fidelity bond in the amount of $10,000,000.00 and an errors and omission policy in the amount of $5,000,000.00. /s/ Jay H. Memmott Jay H. Memmott President/CEO March 22, 2002 /s/ Bruce A. Weinstein Bruce A. Weinstein Chief Financial Officer March 22, 2002 -7- Wilshire Credit Corporation 1776 SW Madison Street Portland, Oregon 97205 Tel: (503) 223-5600 (800) 776-0100 Fax: (503) 223-8799 ANNUAL SERVICING CERTIFICATION In connection with those loans serviced by us we hereby certify that: 1. All real estate taxes, special assessments and any charges that might become a lien upon the property and which come due in the first calendar year have been paid. 2. All FHA insurance premiums or private mortgage insurance premiums, if applicable, have been paid and are in full force and effect. 3. An extended mortgage impairment policy is in force, adequately insuring all loans in which Investor Savings has an interest. 4. All interest and/or monthly payment adjustments for ARM loans have been made in accordance with the mortgage terms. 5. Any exceptions to this certification are listed on an attachment along with an explanation concerning their completion. If there are none listed, it will be considered that there are no exceptions. 6. If applicable, all property inspections have been completed according to the provisions of the servicing agreement. 7. We have a complete Disaster Recovery Plan in place. WILSHIRE CREDIT CORPORATION By: /s/ Jay Memmott Title: President March 22, 2002 -8- OLYMPUS Servicing, LP 9600 Great Hills Trail, Suite #200W Austin, TX 78759 Tel: 512.349.8300 Fax: 512.349.8371 www.OlympusServicing.com OFFICER CERTIFICATE A review of the activities of the Servicer during the preceding calendar year and of its performance under servicing agreements, including this Servicing Agreement has been made under such officer's supervision and to the best of such officer's knowledge. Based on such review, the Servicer has compiled in all material respects with the minimum servicing standards set forth in the Uniform Single Attestation Program for Mortgage Bankers and has fulfilled all of its material obligations in all material respects throughout such year. /s/ Jeff Neal Jeff Neal Chief Operating Officer -9- EXHIBIT 99.2 Servicer's Annual Independent Accountant's Report -10- Deloitte & Touche LLP Suite 3900 111 S.W. Fifth Avenue Portland, Oregon 97204-3642 Tel: (503) 222-1341 Fax: (503) 324-2172 INDEPENDENT ACCOUNTANTS' REPORT To Wilshire Credit Corporation: We have examined management's assertion about Wilshire Credit Corporation's (the "Company"), a majority-owned subsidiary of Wilshire Financial Services Group Inc., compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) as of and for the year ended December 31, 2001, included in the accompanying management assertion. Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the entity's compliance 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 the Company'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 the Company's compliance with the minimum servicing standards. In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2001 is fairly stated, in all material respects. /s/ Deloitte & Touche LLP ------------------------------ March 22, 2002 -11- KPMG 111 Congress Avenue, Suite 1100 Austin, TX 78701 Tel: 512.320.5200 Fax: 512.320.5100 INDEPENDENT ACCOUNTANTS' REPORT General and Limited Partners Olympus Servicing L.P. We have examined management's assertion, included in the accompanying Management Assertion, that Olympus Servicing L.P. 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 and for the year ended December 31, 2001. Management is responsible for Olympus Servicing L.P.'s compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Partnership's compliance based on our examination. Our examination was made in accordance with attestations standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about Olympus Servicing L.P.'s compliance with the minimum servicing standards specified above 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 Olympus Servicing L.P.'s compliance with the minimum servicing standards. In our opinion, management's assertion that Olympus Servicing L.P. complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2001 is fairly stated, in all material respects. /s/ KPMG LLP January 25, 2002 -12-