-----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, IOL59lmwdTq4a+B9ZXkHYtY5xGd8f0PhmjhDUVqZly7WT0GQAyLXPYv+6/YrDLJX akLBQkntIMk4X8MMFQhAbQ== 0001056404-02-001259.txt : 20021008 0001056404-02-001259.hdr.sgml : 20021008 20021008110847 ACCESSION NUMBER: 0001056404-02-001259 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020926 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021008 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: 02783743 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 SEPTEMBER 8K 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): September 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 September 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 September 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: 9/27/02 INDEX TO EXHIBITS 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 September 25, 2002 distribution. EX-99.1
Renaissance Mortgage Acceptance Corp. Mortgage Pass-Through Certificates Record Date: 8/31/02 Distribution Date: 9/25/02 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 1.97000% 27,236,630.86 44,713.47 2,437,754.03 AF-2 759950AB4 SEN 5.72000% 64,160,000.00 305,829.32 0.00 AV-1 759950AC2 SEN 2.16000% 45,952,922.15 82,715.26 1,283,617.68 M-1 759950AD0 SUB 2.86000% 12,250,000.00 29,195.83 0.00 M-2 759950AE8 SUB 3.76000% 8,750,000.00 27,416.67 0.00 B 759950AF5 SUB 4.81000% 7,000,000.00 28,058.33 0.00 BIO RMA021BIO SEN 0.00000% 0.01 783,376.14 0.00 P RMA02002P SEN 0.00000% 100.00 84,957.32 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 165,349,653.02 1,386,262.34 3,721,371.71
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses AF-1 0.00 24,798,876.83 2,482,467.50 0.00 AF-2 0.00 64,160,000.00 305,829.32 0.00 AV-1 0.00 44,669,304.47 1,366,332.94 0.00 M-1 0.00 12,250,000.00 29,195.83 0.00 M-2 0.00 8,750,000.00 27,416.67 0.00 B 0.00 7,000,000.00 28,058.33 0.00 BIO 0.00 0.01 783,376.14 0.00 P 0.00 100.00 84,957.32 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 161,628,281.31 5,107,634.05 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 27,236,630.86 95,404.65 2,342,349.38 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 45,952,922.15 50,236.04 1,233,381.64 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 171,500,100.00 165,349,653.02 145,640.69 3,575,731.02 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 2,437,754.03 24,798,876.83 0.81174720 2,437,754.03 AF-2 0.00 64,160,000.00 1.00000000 0.00 AV-1 1,283,617.68 44,669,304.47 0.91554221 1,283,617.68 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 3,721,371.71 161,628,281.31 0.94243841 3,721,371.71
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion AF-1 30,550,000.00 891.54274501 3.12290180 76.67264746 0.00000000 AF-2 64,160,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 AV-1 48,790,000.00 941.85124308 1.02963804 25.27939414 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 79.79554926 811.74719574 0.81174720 79.79554926 AF-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 AV-1 0.00000000 26.30903218 915.54221090 0.91554221 26.30903218 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 1.97000% 27,236,630.86 44,713.47 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 2.16000% 45,952,922.15 82,715.26 0.00 0.00 M-1 12,250,000.00 2.86000% 12,250,000.00 29,195.83 0.00 0.00 M-2 8,750,000.00 3.76000% 8,750,000.00 27,416.67 0.00 0.00 B 7,000,000.00 4.81000% 7,000,000.00 28,058.33 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 171,500,100.00 517,928.89 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 44,713.47 0.00 24,798,876.83 AF-2 0.02 0.00 305,829.32 0.00 64,160,000.00 AV-1 0.00 0.00 82,715.26 0.00 44,669,304.47 M-1 0.00 0.00 29,195.83 0.00 12,250,000.00 M-2 0.00 0.00 27,416.67 0.00 8,750,000.00 B 0.00 0.00 28,058.33 0.00 7,000,000.00 BIO 0.00 0.00 783,376.14 0.00 0.01 P 0.00 0.00 84,957.32 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 0.02 0.00 1,386,262.34 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 1.97000% 891.54274501 1.46361604 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 2.16000% 941.85124308 1.69533224 0.00000000 0.00000000 M-1 12,250,000.00 2.86000% 1000.00000000 2.38333306 0.00000000 0.00000000 M-2 8,750,000.00 3.76000% 1000.00000000 3.13333371 0.00000000 0.00000000 B 7,000,000.00 4.81000% 1000.00000000 4.00833286 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 1.46361604 0.00000000 811.74719574 AF-2 0.00000031 0.00000000 4.76666646 0.00000000 1000.00000000 AV-1 0.00000000 0.00000000 1.69533224 0.00000000 915.54221090 M-1 0.00000000 0.00000000 2.38333306 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.13333371 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.00833286 0.00000000 1000.00000000 BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 849573.20000000 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 5,215,933.36 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 413.56 Prepayment Penalties 0.00 Total Deposits 5,216,346.92 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 108,712.87 Payment of Interest and Principal 5,107,634.05 Total Withdrawals (Pool Distribution Amount) 5,216,346.92 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 0.02
SERVICING FEES Gross Servicing Fee 91,460.21 FSA Fee 13,734.96 Trustee Fee- Wells Fargo Bank Minnnesota, N.A. 3,517.70 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 108,712.87
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 5 0 0 5 465,170.31 0.00 0.00 465,170.31 30 Days 60 1 0 0 61 5,067,663.75 96,528.01 0.00 0.00 5,164,191.76 60 Days 14 1 18 0 33 1,360,394.48 105,759.66 1,319,108.32 0.00 2,785,262.46 90 Days 2 0 9 0 11 251,289.88 0.00 514,048.40 0.00 765,338.28 120 Days 3 0 20 0 23 166,010.19 0.00 1,561,955.27 0.00 1,727,965.46 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 2 2 0.00 0.00 0.00 127,161.95 127,161.95 Totals 79 7 47 2 135 6,845,358.30 667,457.98 3,395,111.99 127,161.95 11,035,090.22 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 0.292912% 0.000000% 0.000000% 0.292912% 0.281562% 0.000000% 0.000000% 0.281562% 30 Days 3.514938% 0.058582% 0.000000% 0.000000% 3.573521% 3.067400% 0.058427% 0.000000% 0.000000% 3.125827% 60 Days 0.820152% 0.058582% 1.054482% 0.000000% 1.933216% 0.823431% 0.064015% 0.798441% 0.000000% 1.685888% 90 Days 0.117165% 0.000000% 0.527241% 0.000000% 0.644405% 0.152103% 0.000000% 0.311148% 0.000000% 0.463251% 120 Days 0.175747% 0.000000% 1.171646% 0.000000% 1.347393% 0.100484% 0.000000% 0.945434% 0.000000% 1.045918% 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% 0.117165% 0.117165% 0.000000% 0.000000% 0.000000% 0.076970% 0.076970% Totals 4.628002% 0.410076% 2.753368% 0.117165% 7.908612% 4.143418% 0.404005% 2.055023% 0.076970% 6.679415% (7) The 120 day category for delinquent, bankruptcy, foreclosures, and REO contains loans that are 120 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 10.017940% Weighted Average Net Coupon 9.367940% Weighted Average Pass-Through Rate 9.342940% Weighted Average Maturity(Stepdown Calculation ) 322 Beginning Scheduled Collateral Loan Count 1,736 Number Of Loans Paid In Full 29 Ending Scheduled Collateral Loan Count 1,707 Beginning Scheduled Collateral Balance 168,849,606.39 Ending Scheduled Collateral Balance 165,128,234.68 Ending Actual Collateral Balance at 31-Aug-2002 165,210,421.97 Monthly P &I Constant 1,555,245.03 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount (413.56) Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 165,128,234.68 Scheduled Principal 145,640.69 Unscheduled Principal 3,575,731.02
Miscellaneous Reporting Required Overcollateralization Amount 3,499,953.38 Overcollateralization Amount 3,500,366.94 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 10.041765 9.876118 11.038208 Weighted Average Net Rate 9.391765 9.226118 10.388209 Weighted Average Maturity 312 347 347 Beginning Loan Count 1,109 537 90 Loans Paid In Full 17 7 5 Ending Loan Count 1,092 530 85 Beginning Scheduled Balance 112,187,707.79 52,046,952.75 4,614,945.85 Ending scheduled Balance 109,749,682.85 51,041,025.30 4,337,526.53 Record Date 08/31/2002 08/31/2002 08/31/2002 Principal And Interest Constant 1,051,126.71 454,213.53 49,904.79 Scheduled Principal 112,324.53 25,861.98 7,454.18 Unscheduled Principal 2,325,700.41 980,065.47 269,965.14 Scheduled Interest 938,802.18 428,351.55 42,450.61 Servicing Fees 60,768.32 28,192.13 2,499.76 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 2,337.23 1,084.31 96.16 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 875,696.63 399,075.11 39,854.69 Realized Loss Amount 0.00 0.00 (413.56) 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 9.366765 9.201118 10.363208
Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 10.017940 Weighted Average Net Rate 9.367940 Weighted Average Maturity 322 Beginning Loan Count 1,736 Loans Paid In Full 29 Ending Loan Count 1,707 Beginning Scheduled Balance 168,849,606.39 Ending scheduled Balance 165,128,234.68 Record Date 08/31/2002 Principal And Interest Constant 1,555,245.03 Scheduled Principal 145,640.69 Unscheduled Principal 3,575,731.02 Scheduled Interest 1,409,604.34 Servicing Fees 91,460.21 Master Servicing Fees 0.00 Trustee Fee 3,517.70 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 1,314,626.43 Realized Loss Amount (413.56) Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 9.342940
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