-----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, ADUwv6NAY03gGcAxd3GZHl/LWsUelxtdWXkeCdMsPW+DDHj0P+E79uHqFepvmSLY g1z60muMTIP5iwjwgjWMiQ== 0001056404-02-001005.txt : 20020808 0001056404-02-001005.hdr.sgml : 20020808 20020808161558 ACCESSION NUMBER: 0001056404-02-001005 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020725 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020808 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RENAISSANCE HOME EQUITY LOAN ASSET-BKD CERT SERIES 2002-1 CENTRAL INDEX KEY: 0001170075 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-82550-01 FILM NUMBER: 02723091 BUSINESS ADDRESS: STREET 1: STROOCK & STROOCK & LAVAN LLP STREET 2: 180 MAIDEN LANE CITY: NEW YORK STATE: NY ZIP: 10038 8-K 1 rma02001.txt JULY 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 25, 2002 RENAISSANCE MORTGAGE ACCEPTANCE CORPORATION Home Equity Loan Asset-Backed Certs., Series 2002-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-82550-01 Pooling and Servicing Agreement) (Commission (State or other File Number) Pending jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 Former name or former address, if changed since last report) ITEM 5. Other Events On July 25, 2002 a distribution was made to holders of RENAISSANCE MORTGAGE ACCEPTANCE CORPORATION, Home Equity Loan Asset-Backed Certs., Series 2002-1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Home Equity Loan Asset-Backed Certs., Series 2002-1 Trust, relating to the July 25, 2002 distribution. 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. RENAISSANCE MORTGAGE ACCEPTANCE CORPORATION Home Equity Loan Asset-Backed Certs., Series 2002-1 Trust By: Wells Fargo Bank Minnesota, NA as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 8/7/02 INDEX TO EXHIBITS Exhibit Number Description X-99.1 Monthly report distributed to holders of Home Equity Loan Asset-Backed Certs., Series 2002-1 Trust, relating to the July 25, 2002 distribution. EX-99.1
Renaissance Mortgage Acceptance Corp. Mortgage Pass-Through Certificates Record Date: 6/30/02 Distribution Date: 7/25/02 RMAC Series: 2002-1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution AF-1 759950AA6 SEN 2.00000% 28,458,089.22 47,430.15 501,787.35 AF-2 759950AB4 SEN 5.72000% 64,160,000.00 305,829.32 0.00 AV-1 759950AC2 SEN 2.19000% 47,927,844.39 87,468.31 910,653.38 M-1 759950AD0 SUB 2.89000% 12,250,000.00 29,502.08 0.00 M-2 759950AE8 SUB 3.79000% 8,750,000.00 27,635.42 0.00 B 759950AF5 SUB 4.84000% 7,000,000.00 28,233.33 0.00 BIO RMA021BIO SEN 0.00000% 0.01 799,799.67 0.00 P RMA02002P SEN 0.00000% 100.00 30,512.95 0.00 R-1 RMA0201R1 RES 0.00000% 0.00 0.00 0.00 R-2 RMA0201R2 RES 0.00000% 0.00 0.00 0.00 Totals 168,546,033.62 1,356,411.23 1,412,440.73
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses AF-1 0.00 27,956,301.87 549,217.50 0.00 AF-2 0.00 64,160,000.00 305,829.32 0.00 AV-1 0.00 47,017,191.01 998,121.69 0.00 M-1 0.00 12,250,000.00 29,502.08 0.00 M-2 0.00 8,750,000.00 27,635.42 0.00 B 0.00 7,000,000.00 28,233.33 0.00 BIO 0.00 0.01 799,799.67 0.00 P 0.00 100.00 30,512.95 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 167,133,592.89 2,768,851.96 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) AF-1 30,550,000.00 28,458,089.22 51,396.16 450,391.19 0.00 0.00 AF-2 64,160,000.00 64,160,000.00 0.00 0.00 0.00 0.00 AV-1 48,790,000.00 47,927,844.39 93,274.74 817,378.64 0.00 0.00 M-1 12,250,000.00 12,250,000.00 0.00 0.00 0.00 0.00 M-2 8,750,000.00 8,750,000.00 0.00 0.00 0.00 0.00 B 7,000,000.00 7,000,000.00 0.00 0.00 0.00 0.00 BIO 0.00 0.01 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 Totals 171,500,100.00 168,546,033.62 144,670.90 1,267,769.83 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution AF-1 501,787.35 27,956,301.87 0.91509990 501,787.35 AF-2 0.00 64,160,000.00 1.00000000 0.00 AV-1 910,653.38 47,017,191.01 0.96366450 910,653.38 M-1 0.00 12,250,000.00 1.00000000 0.00 M-2 0.00 8,750,000.00 1.00000000 0.00 B 0.00 7,000,000.00 1.00000000 0.00 BIO 0.00 0.01 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 Totals 1,412,440.73 167,133,592.89 0.97453933 1,412,440.73
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion AF-1 30,550,000.00 931.52501538 1.68236203 14.74275581 0.00000000 AF-2 64,160,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 AV-1 48,790,000.00 982.32925579 1.91175938 16.75299529 0.00000000 M-1 12,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 8,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 7,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 BIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution AF-1 0.00000000 16.42511784 915.09989755 0.91509990 16.42511784 AF-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 AV-1 0.00000000 18.66475466 963.66450113 0.96366450 18.66475466 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall AF-1 30,550,000.00 2.00000% 28,458,089.22 47,430.15 0.00 0.00 AF-2 64,160,000.00 5.72000% 64,160,000.00 305,829.33 0.00 0.00 AV-1 48,790,000.00 2.19000% 47,927,844.39 87,468.32 0.00 0.00 M-1 12,250,000.00 2.89000% 12,250,000.00 29,502.08 0.00 0.00 M-2 8,750,000.00 3.79000% 8,750,000.00 27,635.42 0.00 0.00 B 7,000,000.00 4.84000% 7,000,000.00 28,233.33 0.00 0.00 BIO 0.00 0.00000% 0.01 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 171,500,100.00 526,098.63 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance AF-1 0.00 0.00 47,430.15 0.00 27,956,301.87 AF-2 0.01 0.00 305,829.32 0.00 64,160,000.00 AV-1 0.00 0.00 87,468.31 0.00 47,017,191.01 M-1 0.00 0.00 29,502.08 0.00 12,250,000.00 M-2 0.00 0.00 27,635.42 0.00 8,750,000.00 B 0.00 0.00 28,233.33 0.00 7,000,000.00 BIO 0.00 0.00 799,799.67 0.00 0.01 P 0.00 0.00 30,512.95 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 Totals 0.01 0.00 1,356,411.23 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall AF-1 30,550,000.00 2.00000% 931.52501538 1.55254173 0.00000000 0.00000000 AF-2 64,160,000.00 5.72000% 1000.00000000 4.76666661 0.00000000 0.00000000 AV-1 48,790,000.00 2.19000% 982.32925579 1.79275097 0.00000000 0.00000000 M-1 12,250,000.00 2.89000% 1000.00000000 2.40833306 0.00000000 0.00000000 M-2 8,750,000.00 3.79000% 1000.00000000 3.15833371 0.00000000 0.00000000 B 7,000,000.00 4.84000% 1000.00000000 4.03333286 0.00000000 0.00000000 BIO 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denomination
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance AF-1 0.00000000 0.00000000 1.55254173 0.00000000 915.09989755 AF-2 0.00000016 0.00000000 4.76666646 0.00000000 1000.00000000 AV-1 0.00000000 0.00000000 1.79275077 0.00000000 963.66450113 M-1 0.00000000 0.00000000 2.40833306 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.15833371 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.03333286 0.00000000 1000.00000000 BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 305129.50000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2,879,682.38 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 2,879,682.38 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 110,830.42 Payment of Interest and Principal 2,768,851.96 Total Withdrawals (Pool Distribution Amount) 2,879,682.38 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.01
SERVICING FEES Gross Servicing Fee 93,191.55 FSA Fee 14,054.59 Trustee Fee- Wells Fargo Bank Minnnesota, N.A. 3,584.28 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 110,830.42
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 10,000.00 0.00 0.00 10,000.00 Financial Guaranty 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 3 0 0 3 194,597.91 0.00 0.00 194,597.91 30 Days 40 0 0 0 40 3,709,150.40 0.00 0.00 0.00 3,709,150.40 60 Days 6 0 8 0 14 362,543.49 0.00 915,299.56 0.00 1,277,843.05 90 Days 1 0 9 0 10 84,825.56 0.00 434,159.77 0.00 518,985.33 120 Days 3 0 10 2 15 273,438.38 0.00 629,987.78 127,256.17 1,030,682.33 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 50 3 27 2 82 4,429,957.83 194,597.91 1,979,447.11 127,256.17 6,731,259.02 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.171233% 0.000000% 0.000000% 0.171233% 0.114002% 0.000000% 0.000000% 0.114002% 30 Days 2.283105% 0.000000% 0.000000% 0.000000% 2.283105% 2.172941% 0.000000% 0.000000% 0.000000% 2.172941% 60 Days 0.342466% 0.000000% 0.456621% 0.000000% 0.799087% 0.212390% 0.000000% 0.536212% 0.000000% 0.748602% 90 Days 0.057078% 0.000000% 0.513699% 0.000000% 0.570776% 0.049694% 0.000000% 0.254345% 0.000000% 0.304039% 120 Days 0.171233% 0.000000% 0.570776% 0.114155% 0.856164% 0.160189% 0.000000% 0.369067% 0.074551% 0.603807% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.853881% 0.171233% 1.541096% 0.114155% 4.680365% 2.595214% 0.114002% 1.159625% 0.074551% 3.943391% (7) The 90 day category for delinquent, bankruptcy, foreclosures, and REO contains loans that are 90 days or more delinquent.
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 10.021010% Weighted Average Net Coupon 9.371010% Weighted Average Pass-Through Rate 9.346010% Weighted Average Maturity(Stepdown Calculation ) 324 Beginning Scheduled Collateral Loan Count 1,767 Number Of Loans Paid In Full 15 Ending Scheduled Collateral Loan Count 1,752 Beginning Scheduled Collateral Balance 172,045,986.99 Ending Scheduled Collateral Balance 170,633,546.26 Ending Actual Collateral Balance at 30-Jun-2002 170,697,210.98 Monthly P &I Constant 1,581,399.65 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 170,633,546.26 Scheduled Principal 144,670.90 Unscheduled Principal 1,267,769.83
Miscellaneous Reporting Required Overcollateralization Amount 3,499,953.38 Overcollateralization Amount 3,499,953.38 Delinquency Event NO Cumulative Loss Event NO
Group Level Collateral Statement Group 1 2 3 Collateral Description Mixed Fixed Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 10.045512 9.876258 11.069751 Weighted Average Net Rate 9.395512 9.226258 10.419753 Weighted Average Maturity 314 349 349 Beginning Loan Count 1,124 549 94 Loans Paid In Full 8 5 2 Ending Loan Count 1,116 544 92 Beginning Scheduled Balance 113,409,166.15 53,853,417.77 4,783,403.07 Ending scheduled Balance 112,907,378.80 53,031,617.06 4,694,550.40 Record Date 06/30/2002 06/30/2002 06/30/2002 Principal And Interest Constant 1,060,354.66 469,513.21 51,531.78 Scheduled Principal 110,977.02 26,288.00 7,405.88 Unscheduled Principal 390,810.33 795,512.71 81,446.79 Scheduled Interest 949,377.64 443,225.21 44,125.90 Servicing Fees 61,429.96 29,170.59 2,591.00 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 2,362.69 1,121.93 99.66 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 885,584.99 412,932.69 41,435.24 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 9.370512 9.201258 10.394751
Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 10.021010 Weighted Average Net Rate 9.371010 Weighted Average Maturity 324 Beginning Loan Count 1,767 Loans Paid In Full 15 Ending Loan Count 1,752 Beginning Scheduled Balance 172,045,986.99 Ending scheduled Balance 170,633,546.26 Record Date 06/30/2002 Principal And Interest Constant 1,581,399.65 Scheduled Principal 144,670.90 Unscheduled Principal 1,267,769.83 Scheduled Interest 1,436,728.75 Servicing Fees 93,191.55 Master Servicing Fees 0.00 Trustee Fee 3,584.28 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 1,339,952.92 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 9.346010
-----END PRIVACY-ENHANCED MESSAGE-----