-----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, V8rpOJ3177Kuzpk420HldmcnTP6V8anDnx3Nzg8H5slI98Mnfp2wZuoEB43UIJiL Tjs0OvlzJ76wuKn0QD+QIQ== 0001056404-02-001395.txt : 20021112 0001056404-02-001395.hdr.sgml : 20021111 20021112111214 ACCESSION NUMBER: 0001056404-02-001395 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021025 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021112 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: 02815903 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 OCTOBER 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): October 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 Pending (State or other File Number) IRS EIN jurisdiction 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 October 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 October 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, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 11/1/02 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 October 25, 2002 distribution.
Renaissance Mortgage Acceptance Corp. Mortgage Pass-Through Certificates Record Date: 9/30/02 10/25/02 Distribution Date: 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 1.97375% 24,798,876.83 40,788.99 1,788,828.57 AF-2 759950AB4 SEN 5.72000% 64,160,000.00 305,829.33 0.00 AV-1 759950AC2 SEN 2.16375% 44,669,304.47 80,544.34 578,485.30 M-1 759950AD0 SUB 2.86375% 12,250,000.00 29,234.11 0.00 M-2 759950AE8 SUB 3.76375% 8,750,000.00 27,444.01 0.00 B 759950AF5 SUB 4.81375% 7,000,000.00 28,080.21 0.00 BIO RMA021BIO SEN 0.00000% 0.01 760,132.27 0.00 P RMA02002P SEN 0.00000% 100.00 33,234.27 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 161,628,281.31 1,305,287.53 2,367,313.87
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses AF-1 0.00 23,010,048.26 1,829,617.56 0.00 AF-2 0.00 64,160,000.00 305,829.33 0.00 AV-1 0.00 44,090,819.17 659,029.64 0.00 M-1 0.00 12,250,000.00 29,234.11 0.00 M-2 0.00 8,750,000.00 27,444.01 0.00 B 0.00 7,000,000.00 28,080.21 0.00 BIO 0.00 0.01 760,132.27 0.00 P 0.00 100.00 33,234.27 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 159,260,967.44 3,672,601.40 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 24,798,876.83 108,404.88 1,680,423.69 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 44,669,304.47 35,056.82 543,428.48 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 171,500,100.00 161,628,281.31 143,461.70 2,223,852.17 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 1,788,828.57 23,010,048.26 0.75319307 1,788,828.57 AF-2 0.00 64,160,000.00 1.00000000 0.00 AV-1 578,485.30 44,090,819.17 0.90368557 578,485.30 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 2,367,313.87 159,260,967.44 0.92863484 2,367,313.87
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion AF-1 30,550,000.00 811.74719574 3.54844124 55.00568543 0.00000000 AF-2 64,160,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 AV-1 48,790,000.00 915.54221090 0.71852470 11.13811191 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 58.55412668 753.19306907 0.75319307 58.55412668 AF-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 AV-1 0.00000000 11.85663661 903.68557430 0.90368557 11.85663661 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 1.97375% 24,798,876.83 40,788.99 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 2.16375% 44,669,304.47 80,544.34 0.00 0.00 M-1 12,250,000.00 2.86375% 12,250,000.00 29,234.11 0.00 0.00 M-2 8,750,000.00 3.76375% 8,750,000.00 27,444.01 0.00 0.00 B 7,000,000.00 4.81375% 7,000,000.00 28,080.21 0.00 0.00 BIO 0.00 0.00000% 0.01 760,132.27 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 1,272,053.26 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 40,788.99 0.00 23,010,048.26 AF-2 0.00 0.00 305,829.33 0.00 64,160,000.00 AV-1 0.00 0.00 80,544.34 0.00 44,090,819.17 M-1 0.00 0.00 29,234.11 0.00 12,250,000.00 M-2 0.00 0.00 27,444.01 0.00 8,750,000.00 B 0.00 0.00 28,080.21 0.00 7,000,000.00 BIO 0.00 0.00 760,132.27 0.00 0.01 P 0.00 0.00 33,234.27 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 0.00 0.00 1,305,287.53 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 1.97375% 811.74719574 1.33515516 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 2.16375% 915.54221090 1.65083706 0.00000000 0.00000000 M-1 12,250,000.00 2.86375% 1000.00000000 2.38645796 0.00000000 0.00000000 M-2 8,750,000.00 3.76375% 1000.00000000 3.13645829 0.00000000 0.00000000 B 7,000,000.00 4.81375% 1000.00000000 4.01145857 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 1.33515516 0.00000000 753.19306907 AF-2 0.00000000 0.00000000 4.76666661 0.00000000 1000.00000000 AV-1 0.00000000 0.00000000 1.65083706 0.00000000 903.68557430 M-1 0.00000000 0.00000000 2.38645796 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.13645829 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.01145857 0.00000000 1000.00000000 BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 332342.70000000 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 3,778,848.88 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 3,778,848.88 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 106,247.48 Payment of Interest and Principal 3,672,601.40 Total Withdrawals (Pool Distribution Amount) 3,778,848.88 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 0.00
SERVICING FEES Gross Servicing Fee 89,444.47 FSA Fee 13,362.82 Trustee Fee- Wells Fargo Bank Minnnesota, N.A. 3,440.19 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 106,247.48
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 10,000.00 0.00 0.00 10,000.00
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 8 0 0 8 575,141.23 0.00 0.00 575,141.23 30 Days 62 1 0 0 63 5,167,558.71 96,483.53 0.00 0.00 5,264,042.24 60 Days 11 1 16 0 28 844,781.78 160,918.14 1,176,507.83 0.00 2,182,207.75 90 Days 2 1 19 0 22 149,838.30 105,688.41 1,345,648.43 0.00 1,601,175.14 120 Days 2 0 6 0 8 186,563.48 0.00 320,260.09 0.00 506,823.57 150 Days 1 0 5 0 6 44,872.13 0.00 662,085.51 0.00 706,957.64 180+ Days 1 0 12 2 15 84,751.19 0.00 743,155.20 127,114.17 955,020.56 Totals 79 11 58 2 150 6,478,365.59 938,231.31 4,247,657.06 127,114.17 11,791,368.13 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 0.475624% 0.000000% 0.000000% 0.475624% 0.353366% 0.000000% 0.000000% 0.353366% 30 Days 3.686088% 0.059453% 0.000000% 0.000000% 3.745541% 3.174938% 0.059279% 0.000000% 0.000000% 3.234218% 60 Days 0.653983% 0.059453% 0.951249% 0.000000% 1.664685% 0.519032% 0.098868% 0.722844% 0.000000% 1.340744% 90 Days 0.118906% 0.059453% 1.129608% 0.000000% 1.307967% 0.092060% 0.064935% 0.826764% 0.000000% 0.983759% 120 Days 0.118906% 0.000000% 0.356718% 0.000000% 0.475624% 0.114624% 0.000000% 0.196767% 0.000000% 0.311391% 150 Days 0.059453% 0.000000% 0.297265% 0.000000% 0.356718% 0.027569% 0.000000% 0.406784% 0.000000% 0.434353% 180+ Days 0.059453% 0.000000% 0.713436% 0.118906% 0.891795% 0.052071% 0.000000% 0.456593% 0.078099% 0.586763% Totals 4.696790% 0.653983% 3.448276% 0.118906% 8.917955% 3.980295% 0.576448% 2.609752% 0.078099% 7.244594%
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 10.016221% Weighted Average Net Coupon 9.366221% Weighted Average Pass-Through Rate 9.341221% Weighted Average Maturity(Stepdown Calculation ) 321 Beginning Scheduled Collateral Loan Count 1,707 Number Of Loans Paid In Full 25 Ending Scheduled Collateral Loan Count 1,682 Beginning Scheduled Collateral Balance 165,128,234.68 Ending Scheduled Collateral Balance 162,760,920.81 Ending Actual Collateral Balance at 30-Sep-2002 162,760,920.81 Monthly P &I Constant 1,521,762.41 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 162,760,920.81 Scheduled Principal 143,461.70 Unscheduled Principal 2,223,852.17
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 10.045919 9.866195 11.030186 Weighted Average Net Rate 9.395919 9.216195 10.380181 Weighted Average Maturity 311 346 346 Beginning Loan Count 1,092 530 85 Loans Paid In Full 19 4 2 Ending Loan Count 1,073 526 83 Beginning Scheduled Balance 109,749,682.85 51,041,025.30 4,337,526.53 Ending scheduled Balance 107,960,854.28 50,525,601.00 4,274,465.53 Record Date 09/30/2002 09/30/2002 09/30/2002 Principal And Interest Constant 1,029,623.63 445,329.25 46,809.53 Scheduled Principal 110,843.27 25,678.67 6,939.76 Unscheduled Principal 1,677,985.30 489,745.63 56,121.24 Scheduled Interest 918,780.36 419,650.58 39,869.77 Servicing Fees 59,447.73 27,647.23 2,349.51 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 2,286.45 1,063.37 90.37 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 857,046.18 390,939.98 37,429.89 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 9.370919 9.191195 10.355186
Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 10.016221 Weighted Average Net Rate 9.366221 Weighted Average Maturity 321 Beginning Loan Count 1,707 Loans Paid In Full 25 Ending Loan Count 1,682 Beginning Scheduled Balance 165,128,234.68 Ending scheduled Balance 162,760,920.81 Record Date 09/30/2002 Principal And Interest Constant 1,521,762.41 Scheduled Principal 143,461.70 Unscheduled Principal 2,223,852.17 Scheduled Interest 1,378,300.71 Servicing Fees 89,444.47 Master Servicing Fees 0.00 Trustee Fee 3,440.19 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 1,285,416.05 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 9.341221
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