-----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, S+g2efCc71yZg3vd8F2tYwk4wdJifM74jn54rFVUDLukqZlPk9Kt26Bmn62PRjCw vWHRlw6GeSatvboBdqQ17w== 0001056404-02-001599.txt : 20021210 0001056404-02-001599.hdr.sgml : 20021210 20021210112713 ACCESSION NUMBER: 0001056404-02-001599 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021125 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021210 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: 02853088 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 NOVEMBER 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): November 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 52-2385853 Pooling and Servicing Agreement) (Commission 52-2385855 (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 November 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 November 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: 12/10/02 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 November 25, 2002 distribution. EX-99.1
Renaissance Mortgage Acceptance Corp. Mortgage Pass-Through Certificates Record Date: 10/31/02 Distribution Date: 11/25/02 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 1.99000% 23,010,048.26 39,430.27 2,408,507.99 AF-2 759950AB4 SEN 5.72000% 64,160,000.00 305,829.33 0.00 AV-1 759950AC2 SEN 2.18000% 44,090,819.17 82,768.26 1,388,407.72 M-1 759950AD0 SUB 2.88000% 12,250,000.00 30,380.00 0.00 M-2 759950AE8 SUB 3.78000% 8,750,000.00 28,481.25 0.00 B 759950AF5 SUB 4.83000% 7,000,000.00 29,114.17 0.00 BIO RMA021BIO SEN 0.00000% 0.01 736,764.58 0.00 P RMA02002P SEN 0.00000% 100.00 102,126.08 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 159,260,967.44 1,354,893.94 3,796,915.71
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses AF-1 0.00 20,601,540.27 2,447,938.26 0.00 AF-2 0.00 64,160,000.00 305,829.33 0.00 AV-1 0.00 42,702,411.45 1,471,175.98 0.00 M-1 0.00 12,250,000.00 30,380.00 0.00 M-2 0.00 8,750,000.00 28,481.25 0.00 B 0.00 7,000,000.00 29,114.17 0.00 BIO 0.00 0.01 736,764.58 0.00 P 0.00 100.00 102,126.08 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 155,464,051.73 5,151,809.65 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 23,010,048.26 90,795.32 2,317,712.67 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 44,090,819.17 52,339.84 1,336,067.88 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 171,500,100.00 159,260,967.44 143,135.16 3,653,780.55 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 2,408,507.99 20,601,540.27 0.67435484 2,408,507.99 AF-2 0.00 64,160,000.00 1.00000000 0.00 AV-1 1,388,407.72 42,702,411.45 0.87522877 1,388,407.72 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 3,796,915.71 155,464,051.73 0.90649540 3,796,915.71
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion AF-1 30,550,000.00 753.19306907 2.97202357 75.86620851 0.00000000 AF-2 64,160,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 AV-1 48,790,000.00 903.68557430 1.07275753 27.38405165 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 78.83823208 674.35483699 0.67435484 78.83823208 AF-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 AV-1 0.00000000 28.45680918 875.22876512 0.87522877 28.45680918 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 1.99000% 23,010,048.26 39,430.27 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 2.18000% 44,090,819.17 82,768.27 0.00 0.00 M-1 12,250,000.00 2.88000% 12,250,000.00 30,380.00 0.00 0.00 M-2 8,750,000.00 3.78000% 8,750,000.00 28,481.25 0.00 0.00 B 7,000,000.00 4.83000% 7,000,000.00 29,114.17 0.00 0.00 BIO 0.00 0.00000% 0.01 736,764.58 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 1,252,767.87 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 39,430.27 0.00 20,601,540.27 AF-2 0.00 0.00 305,829.33 0.00 64,160,000.00 AV-1 0.00 0.00 82,768.26 0.00 42,702,411.45 M-1 0.00 0.00 30,380.00 0.00 12,250,000.00 M-2 0.00 0.00 28,481.25 0.00 8,750,000.00 B 0.00 0.00 29,114.17 0.00 7,000,000.00 BIO 0.00 0.00 736,764.58 0.00 0.01 P 0.00 0.00 102,126.08 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 1,354,893.94 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 1.99000% 753.19306907 1.29067987 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 2.18000% 903.68557430 1.69641873 0.00000000 0.00000000 M-1 12,250,000.00 2.88000% 1000.00000000 2.48000000 0.00000000 0.00000000 M-2 8,750,000.00 3.78000% 1000.00000000 3.25500000 0.00000000 0.00000000 B 7,000,000.00 4.83000% 1000.00000000 4.15916714 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 1.29067987 0.00000000 674.35483699 AF-2 0.00000000 0.00000000 4.76666661 0.00000000 1000.00000000 AV-1 0.00000000 0.00000000 1.69641853 0.00000000 875.22876512 M-1 0.00000000 0.00000000 2.48000000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.25500000 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.15916714 0.00000000 1000.00000000 BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1021260.80000000 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 5,256,488.76 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 5,256,488.76 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 104,679.11 Payment of Interest and Principal 5,151,809.65 Total Withdrawals (Pool Distribution Amount) 5,256,488.76 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 88,162.16 FSA Fee 13,126.09 Trustee Fee- Wells Fargo Bank Minnnesota, N.A. 3,390.86 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 104,679.11
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 10 0 0 10 552,577.89 0.00 0.00 552,577.89 30 Days 60 2 0 0 62 5,763,646.29 196,963.48 0.00 0.00 5,960,609.77 60 Days 9 0 10 0 19 786,662.14 0.00 950,402.49 0.00 1,737,064.63 90 Days 6 2 16 0 24 560,286.04 257,324.52 1,193,652.37 0.00 2,011,262.93 120 Days 3 0 12 1 16 255,332.41 0.00 791,076.47 99,667.94 1,146,076.82 150 Days 0 0 7 0 7 0.00 0.00 406,972.11 0.00 406,972.11 180+ Days 0 0 13 3 16 0.00 0.00 1,224,237.08 162,081.07 1,386,318.15 Totals 78 14 58 4 154 7,365,926.88 1,006,865.89 4,566,340.52 261,749.01 13,200,882.30 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 0.609385% 0.000000% 0.000000% 0.609385% 0.347612% 0.000000% 0.000000% 0.347612% 30 Days 3.656307% 0.121877% 0.000000% 0.000000% 3.778184% 3.625756% 0.123904% 0.000000% 0.000000% 3.749660% 60 Days 0.548446% 0.000000% 0.609385% 0.000000% 1.157831% 0.494868% 0.000000% 0.597873% 0.000000% 1.092741% 90 Days 0.365631% 0.121877% 0.975015% 0.000000% 1.462523% 0.352461% 0.161876% 0.750895% 0.000000% 1.265232% 120 Days 0.182815% 0.000000% 0.731261% 0.060938% 0.975015% 0.160623% 0.000000% 0.497645% 0.062698% 0.720966% 150 Days 0.000000% 0.000000% 0.426569% 0.000000% 0.426569% 0.000000% 0.000000% 0.256015% 0.000000% 0.256015% 180+ Days 0.000000% 0.000000% 0.792200% 0.182815% 0.975015% 0.000000% 0.000000% 0.770135% 0.101961% 0.872096% Totals 4.753199% 0.853138% 3.534430% 0.243754% 9.384522% 4.633707% 0.633392% 2.872563% 0.164659% 8.304322%
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 10.008154% Weighted Average Net Coupon 9.358154% Weighted Average Pass-Through Rate 9.333154% Weighted Average Maturity(Stepdown Calculation ) 320 Beginning Scheduled Collateral Loan Count 1,682 Number Of Loans Paid In Full 41 Ending Scheduled Collateral Loan Count 1,641 Beginning Scheduled Collateral Balance 162,760,920.81 Ending Scheduled Collateral Balance 158,964,005.10 Ending Actual Collateral Balance at 31-Oct-2002 158,964,005.10 Monthly P &I Constant 1,500,582.14 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 158,964,005.10 Scheduled Principal 143,135.16 Unscheduled Principal 3,653,780.55
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 10.038536 9.857136 11.025861 Weighted Average Net Rate 9.388537 9.207136 10.375860 Weighted Average Maturity 310 345 345 Beginning Loan Count 1,073 526 83 Loans Paid In Full 23 16 2 Ending Loan Count 1,050 510 81 Beginning Scheduled Balance 107,960,854.28 50,525,601.00 4,274,465.53 Ending scheduled Balance 105,552,346.29 49,229,470.51 4,182,188.30 Record Date 10/31/2002 10/31/2002 10/31/2002 Principal And Interest Constant 1,013,667.99 440,727.91 46,186.24 Scheduled Principal 110,527.18 25,696.46 6,911.52 Unscheduled Principal 2,297,980.81 1,270,434.03 85,365.71 Scheduled Interest 903,140.81 415,031.45 39,274.72 Servicing Fees 58,478.79 27,368.03 2,315.34 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 2,249.19 1,052.62 89.05 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 842,412.83 386,610.80 36,870.33 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 9.363536 9.182136 10.350861
Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 10.008154 Weighted Average Net Rate 9.358154 Weighted Average Maturity 320 Beginning Loan Count 1,682 Loans Paid In Full 41 Ending Loan Count 1,641 Beginning Scheduled Balance 162,760,920.81 Ending scheduled Balance 158,964,005.10 Record Date 10/31/2002 Principal And Interest Constant 1,500,582.14 Scheduled Principal 143,135.16 Unscheduled Principal 3,653,780.55 Scheduled Interest 1,357,446.98 Servicing Fees 88,162.16 Master Servicing Fees 0.00 Trustee Fee 3,390.86 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 1,265,893.96 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 9.333154
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