-----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, IbP3B+e2PfbJ+ZmGR57Ifi5Gw+dzt+nFTd7RehYww7F1d3a1waTWyLHDikfoF/JJ y68gBqIzVTCdKz0rmHCf+w== 0000950144-02-002502.txt : 20020415 0000950144-02-002502.hdr.sgml : 20020415 ACCESSION NUMBER: 0000950144-02-002502 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020307 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020321 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANDERBILT MORT & FIN INC SENIOR SUB PAS THR CERT SER 2002 A CENTRAL INDEX KEY: 0001168021 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-57532-05 FILM NUMBER: 02580423 BUSINESS ADDRESS: STREET 1: 500 ALOCA TRAIL CITY: MARYVILLE STATE: TN ZIP: 37804 8-K 1 g74839e8-k.htm VANDERBILT MORTGAGE AND FINANCE, INC. e8-k
Table of Contents

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): March 7, 2002

Vanderbilt Mortgage and Finance, Inc.

(Exact name of registrant as specified in its charter)

Tennessee

(State or other jurisdiction of incorporation or organization)
     
333-57532-05   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)

 

Item 5. Other Events
Item 7. Financial Statements and Exhibits
SIGNATURES
MONTHLY REPORT

Table of Contents

Item 5. Other Events

     For the Remittance Date of March 7, 2002, 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 2002-A.

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 the Trustee to Certificateholders in connection with the distributions on the Remittance Date specified in Item 5 above.     3  

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 Jordan
       
    Name:   David Jordan
    Title:   Secretary

Dated: March 18, 2002

  EX-20 3 g74839ex20.txt MONTHLY REPORT EXHIBIT 20 Chase Bank, Trustee Determination Date: 04-Mar-02 Manufactured Housing Contracts Remittance Date: 07-Mar-02 Senior/Subordinated Pass-Through Certificates Series 2002 A For the Period Ended: 25-Feb-02 Lock-Out Date: Mar-07
Information for Clauses (a) through (s), Section 7.01 - 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 2,538,067.03 241,783.35 153,733.65 274,380.98 (b) Formula Principal Distribution Amount (a) Scheduled Principal Due 399,007.37 (b) Partial Prepayments Received 423,353.04 (c) Principal Payments in Full (Scheduled Balance) 1,684,032.80 (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 2,506,393.21 0.00 0.00 0.00 (c) Interest Distribution 31,673.82 241,783.35 153,733.65 274,380.98 Unpaid Interest Shortfall 0.00 0.00 0.00 0.00 ------------- ------------- ------------- ------------- Total Interest Distribution 31,673.82 241,783.35 153,733.65 274,380.98 (d) Beginning Class I A and Class I B Principal Balance 63,626,000.00 60,826,000.00 33,061,000.00 50,733,000.00 Less: Principal Distribution 2,506,393.21 0.00 0.00 0.00 ------------- ------------- ------------- ------------- Remaining Class A and Class B Principal Balance 61,119,606.79 60,826,000.00 33,061,000.00 50,733,000.00 (e) Fees Due Servicer Monthly Servicing Fee 262,141.76 (h) Pool Factor Section 8.06 Reimbursement Amount 0.00 Class I A-1 0.96060741 Section 6.02 Reimbursement Amount 0.00 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 262,141.76 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 - 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 59,557.17 59,724.93 51,526.80 102,255.30 (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 59,557.17 59,724.93 51,526.80 102,255.30 Unpaid Interest Shortfall 0.00 0.00 0.00 0.00 ------------- ------------- ------------ ------------- Total Interest Distribution 59,557.17 59,724.93 51,526.80 102,255.30 (d) Beginning Class I A and Class I B Principal Balance 10,066,000.00 10,066,000.00 8,808,000.00 14,470,089.00 Less: Principal Distribution 0.00 0.00 0.00 0.00 ------------- ------------- ------------ ------------- Remaining Class A and Class B Principal Balance 10,066,000.00 10,066,000.00 8,808,000.00 14,470,089.00 (e) Fees Due Servicer Monthly Servicing Fee Original Balance Rate Section 8.06 Reimbursement Amount 63,626,000.00 1.9913% Section 6.02 Reimbursement Amount 60,826,000.00 4.7700% Reimburseable Fees 33,061,000.00 5.5800% 50,733,000.00 6.4900% Total Fees Due Servicer 10,066,000.00 7.1000% 10,066,000.00 7.1200% 8,808,000.00 7.0200% 14,470,089.00 8.4800% Information for Clauses (a) through (s), Section 7.01 - (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 974,636.00 (c) Interest Distribution 1,490,535.15 0.00 Unpaid Interest Shortfall Total Interest Distribution When VMF SPC (d) Beginning Class I A and Class I B Principal Balance 249,149,695.79 Less: Principal Distribution 2,506,393.21 is less than 251,656,089.00 Remaining Class A and Class B Principal Balance 0.10 25,165,608.90 (e) Fees Due Servicer We can prepay Monthly Servicing Fee Rate Section 8.06 Reimbursement Amount Class A-1 1.991% 63,626,000.00 1,266,953 Section 6.02 Reimbursement Amount Class A-2 4.770% 60,826,000.00 2,901,400 Reimburseable Fees Class A-3 5.580% 33,061,000.00 1,844,804 Class A-4 6.490% 50,733,000.00 3,292,572 Total Fees Due Servicer Class A-5 7.100% 10,066,000.00 714,686 Class A-6 7.120% 10,066,000.00 716,699 Class B-1 7.020% 8,808,000.00 618,322 Class B-2 8.480% 14,470,089.00 1,227,064 251,656,089.00 12,582,499 5.00%
Chase Bank, Trustee Determination Date: 04-Mar-02 Manufactured Housing Contracts Remittance Date: 07-Mar-02 Senior/Subordinated Pass-Through Certificates Series 2002 A For the Period Ended: 25-Feb-02 Lock-Out Date: Mar-07
Unpaid Unpaid No. of Principal Delinquency as of No. of Principal (f) Delinquency as of the Due Period Contracts Balance Calendar Month End Contracts Balance 31-59 Days Delinquent 38 1,433,547 31-59 Days Delinquent 27 989,639 60-89 Days Delinquent 11 407,681 60-89 Days Delinquent 7 272,159 90+ Days Delinquent 0 0 90+ Days Delinquent 0 0 3-Month Avg Thirty-Day Delinquency Ratio 0.25% 3-Month Avg Thirty-Day Delinquency Ratio 0.17% 3-Month Avg Sixty-Day Delinquency Ratio 0.05% 3-Month Avg Sixty-Day Delinquency Ratio 0.04% (g) Section 3.05 Repurchases 0.00 (i) Class R Distribution Amount 515,899.15 Acquisition Loss Amount Repossession Profits 0.00 Current Month Acquisition Loss Amount 0 (j) Principal Balance of Contracts in Repossession 0.00 Cumulative Acquisition Loss Amount 0 (k) Aggregate Net Liquidation Losses 0.00 Current Realized Loss Ratio 0 Cumulative Realized Loss Ratio 0.00% (l) (x) Class B-2 Formula Distribution Amount 102,255.30 (y) Remaining Amount Available 618,154.45 ------------- 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 0 0.00 (q) Principal Prepayments paid 2,107,385.84 (r) Scheduled Principal Payments 399,007.37 (s) Weighted Average Interest Rate 10.19%
Chase Bank, Trustee Determination Date: 04-Mar-02 Manufactured Housing Contracts Remittance Date: 07-Mar-02 Senior/Subordinated Pass-Through Certificates Series 2002 A For the Period Ended: 25-Feb-02 Lock-Out Date: Mar-07
Computation of Available Distribution Amount (i) Certificate Account Balance at Monthly Cutoff-Vanderbilt 3,911,712.94 Certificate Account Balance at Monthly Cutoff-SubServicer-21st 564,501.93 (ii) Monthly Advance made 0.00 (iii) Section 5.05 Certificate Fund Income-Vanderbilt 321.37 (iii) Section 5.05 Certificate Fund Income-SubServicer-21st 0.00 (v) Principal due Holders 0.00 Less: (i) Scheduled Payments of principal and interest due subsequent to the Due Period-Vanderbilt 186,986.80 (i) Scheduled Payments of principal and interest due subsequent to the Due Period-SubServicer-21st 30,479.32 (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 262,141.76 (iv) Reimburseable Liquidation Expenses 0.00 (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 262,141.76 Available Distribution Amount-Vanderbilt 3,462,905.75 Available Distribution Amount-SubServicer-21st 534,022.61 To Class A and B 3,481,029.21 Monthly Excess Cashflow 515,899.15 Weighted Average Remaining Term (months) 224.00 Scheduled Balance Computation Prior Month Balance 251,656,089.00 Current Balance 249,144,402.97 Adv Principal 44,833.17 Del Principal 39,540.35 Pool Scheduled Balance 249,149,695.79 Principal Payments in Full 1,684,032.80 Partial Prepayments 423,353.04 Scheduled Principal 399,007.37 Collateral Balance 249,144,402.97
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