-----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, KehGOY31xHgbxI6xpFgUjYBqeVhwLIOd/cvGAD5yjbTPd3AsO83qmsjtIKQosNmf w0CtX8I5o+mySVcdJzVFig== 0001071787-02-001211.txt : 20021126 0001071787-02-001211.hdr.sgml : 20021126 20021126135248 ACCESSION NUMBER: 0001071787-02-001211 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20011231 FILED AS OF DATE: 20021126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST HORIZON MORTGAGE PASS THROUGH TRUST 2000 5 CENTRAL INDEX KEY: 0001133132 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 134150878 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-74467-05 FILM NUMBER: 02840704 BUSINESS ADDRESS: STREET 1: 4000 HORIZON WAY CITY: IRVING STATE: TX ZIP: 75063 BUSINESS PHONE: 2144414000 MAIL ADDRESS: STREET 1: 4000 HORIZON WAY CITY: IRVING STATE: TX ZIP: 78063 10-K 1 fh0005_10k2001.txt UNITED STATES 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, 2001 OR / / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 333-74467-05 First Horizon Mortgage Pass-Through Trust Series 2000-5 (Exact name of registrant as specified in its charter) New York 13-4150878 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) c/o The Bank of New York, as Trustee 101 Barclay Street, 8 West New York, NY 10286 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 815-6436 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 ___ No X Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K ( 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. Not applicable. State the aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant. The aggregate market value shall be computed by reference to the price at which the common equity was sold, or the average bid and asked prices of such common equity, as of a specified date within 60 days prior to the date of filing. (See definition of affiliate in Rule 405, 17 CFR 230.405.) Not applicable. Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date. Not applicable. List hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g. Part I, Part II, etc..) into which the document is incorporated: (1)Any annual report to security holders; (2) Any proxy or information statement; and (3)Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g. annual report to security holders for fiscal year ended December 24, 1980). Not applicable. This Annual Report on Form 10-K (the "Report") is filed with respect to the trust fund entitled "First Horizon Mortgage Pass-Through Trust 2000-5" (the "Trust Fund") formed pursuant to the pooling and servicing agreement, dated as of November 1, 2000 (the "Pooling and Servicing Agreement") among First Horizon Asset Securities Inc., as depositor (the "Company"), First Horizon Home Loan Corporation, as seller and master servicer (the "Master Servicer"), and The Bank of New York, as trustee (the "Trustee") for the issuance of First Horizon Mortgage Pass-Through Certificates, Series 2000-5 (the "Certificates"). Certain information otherwise required to be included in the Report by the Instructions to Form 10-K has been omitted in reliance on the relief granted to other issuers of Asset Backed Securities by the Commission pursuant to various no-action letters (the "Relief Letters"). * * * PART I Item 1. Business. Omitted. Item 2. Properties. Not applicable. Item 3. Legal Proceedings. There were no material pending legal proceedings relating to the Trust Fund to which any of the Trust Fund, the Trustee, the Master Servicer or the Company was a party or of which any of their respective properties was the subject during the fiscal year covered by this Report, nor is the Company aware of any such proceedings contemplated by governmental authorities. Item 4. Submission of Matters to a Vote of Security Holders. No matter was submitted to a vote of Certificateholders, and no Certificateholder consent was solicited during the fiscal year covered by this Report. PART II Item 5. Market for registrant's Common Equity and Related Stockholder Matters. (a) Market Information. There is no established public trading market for the Certificates (b) Holders. As of December 31, 2001, based on records provided to the Trust by the DTC and the Trustee, the number of holders for each class of Certificate was as follows: Class A1 1 Class A2 1 Class A3 1 Class A4 1 Class B1 1 Class B2 1 Class B3 1 Class B4 1 Class B5 1 Class B6 1 Class AR 2 Total: 12 (c) Dividends. Not applicable. (d) Item 701 of Regulation S-K. Not applicable. (e) Rule 463 of the Securities Act of 1933. Not applicable Item 6. Selected Financial Data. Omitted. Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation. Omitted. Item 7A. Quantitative and Qualitative Disclosures about Market Risk. Not applicable. Item 8. Financial Statements and Supplementary Data. See Item 14(a), Exhibits 99.1, 99.2, 99.3, for information provided in lieu of information required by Item 302 of Regulation S-K. Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. None. 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. Not applicable. Item 13. Certain Relationships and Related Transactions. Not applicable. PART IV Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K. (a) Exhibits (99.1) Annual Independent Accountants' Servicing Reports concerning servicing activities for the year ended December 31, 2001 (99.2) Report of Management as to Compliance with Minimum Servicing Standards for the year ended December 31, 2001. (99.3) Annual Statements of Compliance under the Pooling and Servicing Agreements for the year ended December 31, 2001. (99.4) Aggregate Statement of Principal and Interest Distributions to Certificate Holders. (b) Reports on Form 8-K, dated as of October 31, 2001, November 30, 2001, and December 31, 2001, were filed by the Company in order to provide the statements for the monthly distributions to holders of the Certificates. No other reports on Form 8-K have been filed during the last quarter of the period covered by this report. (c) Not applicable. (d) Omitted. SIGNATURES 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: First Horizon Mortgage Pass-Through Trust Series 2000-5 (Registrant) Signed: The Bank of New York, as Trustee By: Karon Greene, Officer By: /s/ Karon Greene, Officer Dated: November 26, 2002 CERTIFICATION I, Peter F. Makowiecki, in my capacity as the Chief Financial Officer of First Horizon Home Loan Corporation (the "Master Servicer") hereby certify that: 1. I have reviewed this Annual Report of Form 10-K and all reports on Form 8-K containing distribution or servicing reports filed in respect of periods included in the year covered by this annual report of first Horizon Mortgage Pass-Through Trust 2000-5; 2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances in which such statements were made, not misleading as of the last day of the period covered by this annual report; and 3. Based on my knowledge, the distribution of servicing information required to be provided to the trustee by the Master Servicer under the Pooling and Servicing Agreement is included in these reports. Dated: November 26, 2002 FIRST HORIZON HOME LOAN CORPORATION By:_________________________________ /s/ Peter F. Makowiecki Chief Financial Officer SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT. (a)(i) No annual report is provided to the Certificateholders other than with respect to aggregate principal and interest distributions. (a)(ii) No proxy statement, form of proxy or other proxy soliciting material has been sent to any Certificateholder with respect to any annual or other meeting of Certificateholders. Ex-99.4 Schedule of Year-To-Date Principal and Interest Distributions to Certificateholders Class Interest Principal Losses Ending Balance A1 6,498,257.70 111,459,575.60 0.00 18,660,775.11 A2 0.00 0.00 0.00 7,427,401.97 A3 1,344,991.64 0.00 0.00 17,950,000.00 A4 1,375,338.24 0.00 0.00 18,355,000.00 B1 239,766.37 24,432.44 0.00 3,186,584.02 B2 143,874.75 14,660.98 0.00 1,912,148.77 B3 61,639.29 6,281.11 0.00 819,208.96 B4 61,639.29 6,281.11 0.00 819,208.96 B5 34,252.34 3,490.35 0.00 455,226.29 B6 41,141.18 4,192.32 0.00 546,781.48 AR 0.00 0.00 0.00 0.00
EX-99.1 CHARTER 2 fh_usap2000.txt Arthur Andersen L.L.P 100 Peabody Place, Suite 1100 Memphis, TN 38103-3625 Dear Sirs: As of and for the year ended December 31, 2000, First Horizon Home Loan Corporation and its wholly-owned subsidiary, First Tennessee Mortgage Services, Inc. (the "Company") has complied in all material respects, except for the matters disclosed in Exhibit I, 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 this same period, the Company had in effect a fidelity bond policy in the amount of $70,000,000 and an errors and omissions policy in the amount of $50,000,000. ---------------------------- Peter F. Makowiecki Chief Financial Officer February 16, 2001 EXHIBIT I --------- Matter #1: The Company is required to maintain a loan servicing file for each of the loans it services. During an inventory of files in prior years, the Company noted several missing files. Management Corrective Action: The Company maintains original collateral documentation files with the document custodians. For the existing portfolio, internal loan servicing files will be recreated and imaged as necessary. Previously, the Company implemented front-end imaging technology which has, and will continue to, substantially reduce the loss of internal documents in the future. Matter #2: The Company is required to perform reconciliations on a monthly basis for all custodial accounts and related bank clearing accounts. Seven of 24 reconciliations tested had reconciling items greater than 90 calendar days of their original identification. Management Corrective Action: The Company has established a policy ensuring all reconcilements have appropriate documentation. Also, the Company has a system of management reporting that emphasizes accounts with outstanding reconciling items and the specific age of those items. These reports are submitted to management on a monthly basis. Of the seven reconcilements, six are clearing accounts for which procedures have been established to monitor check clearing activity by payees who have not cashed their checks. For escrow clearing accounts, the Company monitors checks not cashed and follows state escheat procedures. For investor clearing accounts, the Company monitors investor guidelines for certificate holders who do not cash their checks. EX-99.2 BYLAWS 3 fh_cparpt2000.txt REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS ---------------------------------------- To the Stockholder of First Tennessee Mortgage Services, Inc.: We have examined management's assertion about First Tennessee Mortgage Services, Inc.'s (the "Company") 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 the Company had in effect a fidelity bond policy in the amount of $70,000,000 and an errors and omissions policy in the amount of $50,000,000 as of and for the year ended December 31, 2000, included in the accompanying management assertion letter. Management is responsible for the Company'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 Company'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 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, except for the matters disclosed therein, management's assertion that the Company complied with the aforementioned servicing standards and that the Company had in effect a fidelity bond policy in the amount of $70,000,000 and an errors and omissions policy in the amount of $50,000,000 as of and for the year ended December 31, 2000, is fairly stated, in all material respects. Memphis Tennessee, February 16, 2001 EX-99.4 ACQ AGREEMNT 4 fh_annsvccert2000.txt ANNUAL SERVICING CERTIFICATION ------------------------------ In connection with the loans serviced by First Horizon Home Loans (formerly FT Mortgage Companies) during the fiscal year December 31, 2000, we confirm the following to be materially correct and accurate to the best of our knowledge, information and belief. 1. Real estate taxes, special assessments and any charges that may become a lien upon the property and which come due in the last calendar year have been paid. This also includes the verification with taxing authorities for non-escrowed mortgages. 2. FHA insurance premiums or private mortgage insurance premiums, if applicable, have been paid and are in full force and effect. 3. Properties are adequately insured and your interest, as Mortgagee, is properly provided for in the mortgage clause. This includes both flood and hazard insurance. 4. For those loans being escrowed for the payment of taxes and insurance, sufficient amounts are being collected monthly to provide for payment of future items. 5. Property inspections have been completed according to the provisions of our servicing agreement, if applicable. 6. All other provisions of the servicing agreement have been adhered to. 7. To the extent there exist any exceptions to the foregoing that are deemed to be material in nature, such exception(s) will be recited in an Exhibit attached hereto and accompanied by an explanation thereof. In the event no Exhibit is attached hereto, it is to be presumed that no exceptions of a material nature to the foregoing exist. By: ---------------------------- (Signature) ---------------------------- (Printed Name) ---------------------------- (Title) ---------------------------- (Date) -----END PRIVACY-ENHANCED MESSAGE-----