-----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, ATbQ3v8PAgBvScTQvXDhem2Yl2EjWmrwrt2bj/tJUqV4suOF9OYNxrqdjvLWSc2O BiWFv99Elgy5A9ClStwTJg== 0001056404-03-000032.txt : 20030107 0001056404-03-000032.hdr.sgml : 20030107 20030107083806 ACCESSION NUMBER: 0001056404-03-000032 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021226 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030107 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: 03505841 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 DECEMBER 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): December 26, 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 December 26, 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 December 26, 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: 1/3/03 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 December 26, 2002 distribution. EX-99.1
Renaissance Mortgage Acceptance Corp. Mortgage Pass-Through Certificates Record Date: 11/30/02 Distribution Date: 12/26/02 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 1.54000% 20,601,540.27 27,319.93 2,100,005.82 AF-2 759950AB4 SEN 5.72000% 64,160,000.00 305,829.32 0.00 AV-1 759950AC2 SEN 1.73000% 42,702,411.45 63,614.73 1,053,024.57 M-1 759950AD0 SUB 2.43000% 12,250,000.00 25,633.12 0.00 M-2 759950AE8 SUB 3.33000% 8,750,000.00 25,090.62 0.00 B 759950AF5 SUB 4.38000% 7,000,000.00 26,401.67 0.00 BIO RMA021BIO SEN 0.00000% 0.01 745,166.51 0.00 P RMA02002P SEN 0.00000% 100.00 77,677.22 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 155,464,051.73 1,296,733.12 3,153,030.39
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses AF-1 0.00 18,501,534.45 2,127,325.75 0.00 AF-2 0.00 64,160,000.00 305,829.32 0.00 AV-1 0.00 41,649,386.88 1,116,639.30 0.00 M-1 0.00 12,250,000.00 25,633.12 0.00 M-2 0.00 8,750,000.00 25,090.62 0.00 B 0.00 7,000,000.00 26,401.67 0.00 BIO 0.00 0.01 745,166.51 0.00 P 0.00 100.00 77,677.22 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 152,311,021.34 4,449,763.51 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 20,601,540.27 93,893.81 2,006,112.01 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 42,702,411.45 47,082.00 1,005,942.57 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 171,500,100.00 155,464,051.73 140,975.81 3,012,054.58 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 2,100,005.82 18,501,534.45 0.60561488 2,100,005.82 AF-2 0.00 64,160,000.00 1.00000000 0.00 AV-1 1,053,024.57 41,649,386.88 0.85364597 1,053,024.57 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 3,153,030.39 152,311,021.34 0.88811039 3,153,030.39
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion AF-1 30,550,000.00 674.35483699 3.07344714 65.66651424 0.00000000 AF-2 64,160,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 AV-1 48,790,000.00 875.22876512 0.96499283 20.61780221 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 68.73996137 605.61487561 0.60561488 68.73996137 AF-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 AV-1 0.00000000 21.58279504 853.64597008 0.85364597 21.58279504 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 1.54000% 20,601,540.27 27,319.93 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 1.73000% 42,702,411.45 63,614.73 0.00 0.00 M-1 12,250,000.00 2.43000% 12,250,000.00 25,633.13 0.00 0.00 M-2 8,750,000.00 3.33000% 8,750,000.00 25,090.63 0.00 0.00 B 7,000,000.00 4.38000% 7,000,000.00 26,401.67 0.00 0.00 BIO 0.00 0.00000% 0.01 745,166.51 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 1,219,055.93 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 27,319.93 0.00 18,501,534.45 AF-2 0.01 0.00 305,829.32 0.00 64,160,000.00 AV-1 0.00 0.00 63,614.73 0.00 41,649,386.88 M-1 0.00 0.00 25,633.12 0.00 12,250,000.00 M-2 0.00 0.00 25,090.62 0.00 8,750,000.00 B 0.00 0.00 26,401.67 0.00 7,000,000.00 BIO 0.00 0.00 745,166.51 0.00 0.01 P 0.00 0.00 77,677.22 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 1,296,733.12 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 1.54000% 674.35483699 0.89426939 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 1.73000% 875.22876512 1.30384771 0.00000000 0.00000000 M-1 12,250,000.00 2.43000% 1000.00000000 2.09250041 0.00000000 0.00000000 M-2 8,750,000.00 3.33000% 1000.00000000 2.86750057 0.00000000 0.00000000 B 7,000,000.00 4.38000% 1000.00000000 3.77166714 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 0.89426939 0.00000000 605.61487561 AF-2 0.00000016 0.00000000 4.76666646 0.00000000 1000.00000000 AV-1 0.00000000 0.00000000 1.30384771 0.00000000 853.64597008 M-1 0.00000000 0.00000000 2.09249959 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.86749943 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.77166714 0.00000000 1000.00000000 BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 776772.20000000 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 4,555,989.93 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (4,062.74) Prepayment Penalties 0.00 Total Deposits 4,551,927.19 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 102,163.68 Payment of Interest and Principal 4,449,763.51 Total Withdrawals (Pool Distribution Amount) 4,551,927.19 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 86,105.53 FSA Fee 12,746.40 Trustee Fee- Wells Fargo Bank Minnnesota, N.A. 3,311.75 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 102,163.68
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 10,000.00 74.68 74.68 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 12 0 0 12 618,716.64 0.00 0.00 618,716.64 30 Days 76 2 0 0 78 6,249,685.52 129,798.25 0.00 0.00 6,379,483.77 60 Days 15 1 3 0 19 1,575,346.45 143,142.49 266,799.89 0.00 1,985,288.83 90 Days 6 2 11 0 19 772,522.02 152,491.78 695,992.92 0.00 1,621,006.72 120 Days 4 1 12 0 17 317,830.93 160,847.14 745,059.89 0.00 1,223,737.96 150 Days 4 0 11 2 17 295,651.06 0.00 718,286.45 172,058.43 1,185,995.94 180+ Days 2 0 14 4 20 127,675.47 0.00 1,319,457.43 210,463.30 1,657,596.20 Totals 107 18 51 6 182 9,338,711.45 1,204,996.30 3,745,596.58 382,521.73 14,671,826.06 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 0.743955% 0.000000% 0.000000% 0.743955% 0.397094% 0.000000% 0.000000% 0.397094% 30 Days 4.711717% 0.123993% 0.000000% 0.000000% 4.835710% 4.011069% 0.083305% 0.000000% 0.000000% 4.094374% 60 Days 0.929944% 0.061996% 0.185989% 0.000000% 1.177929% 1.011063% 0.091869% 0.171233% 0.000000% 1.274165% 90 Days 0.371978% 0.123993% 0.681959% 0.000000% 1.177929% 0.495807% 0.097870% 0.446691% 0.000000% 1.040367% 120 Days 0.247985% 0.061996% 0.743955% 0.000000% 1.053937% 0.203985% 0.103232% 0.478182% 0.000000% 0.785399% 150 Days 0.247985% 0.000000% 0.681959% 0.123993% 1.053937% 0.189750% 0.000000% 0.460999% 0.110428% 0.761176% 180+ Days 0.123993% 0.000000% 0.867948% 0.247985% 1.239926% 0.081943% 0.000000% 0.846832% 0.135076% 1.063851% Totals 6.633602% 1.115933% 3.161810% 0.371978% 11.283323% 5.993616% 0.773371% 2.403936% 0.245504% 9.416427%
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 10.003832% Weighted Average Net Coupon 9.353832% Weighted Average Pass-Through Rate 9.328832% Weighted Average Maturity (Stepdown Calculation) 319 Beginning Scheduled Collateral Loan Count 1,641 Number Of Loans Paid In Full 28 Ending Scheduled Collateral Loan Count 1,613 Beginning Scheduled Collateral Balance 158,964,005.10 Ending Scheduled Collateral Balance 155,810,974.71 Ending Actual Collateral Balance at 30-Nov-2002 155,810,974.71 Monthly P &I Constant 1,466,183.46 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 4,062.74 Cumulative Realized Loss 4,062.74 Ending Scheduled Balance for Premium Loans 155,810,974.71 Scheduled Principal 140,975.81 Unscheduled Principal 3,012,054.58
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 10.039494 9.841233 11.017756 Weighted Average Net Rate 9.389494 9.191233 10.367754 Weighted Average Maturity 309 344 344 Beginning Loan Count 1,050 510 81 Loans Paid In Full 16 12 0 Ending Loan Count 1,034 498 81 Beginning Scheduled Balance 105,552,346.29 49,229,470.51 4,182,188.30 Ending scheduled Balance 103,455,046.37 48,188,057.61 4,167,870.73 Record Date 11/30/2002 11/30/2002 11/30/2002 Principal And Interest Constant 991,932.15 429,067.11 45,184.20 Scheduled Principal 108,855.35 25,334.87 6,785.59 Unscheduled Principal 1,988,444.57 1,016,078.03 7,531.98 Scheduled Interest 883,076.80 403,732.24 38,398.61 Servicing Fees 57,174.20 26,665.97 2,265.36 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 2,199.00 1,025.62 87.13 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 823,703.60 376,040.65 36,046.12 Realized Loss Amount 0.00 4,062.74 0.00 Cumulative Realized Loss 0.00 4,062.74 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 9.364494 9.166233 10.342756
Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 10.003832 Weighted Average Net Rate 9.353832 Weighted Average Maturity 319 Beginning Loan Count 1,641 Loans Paid In Full 28 Ending Loan Count 1,613 Beginning Scheduled Balance 158,964,005.10 Ending scheduled Balance 155,810,974.71 Record Date 11/30/2002 Principal And Interest Constant 1,466,183.46 Scheduled Principal 140,975.81 Unscheduled Principal 3,012,054.58 Scheduled Interest 1,325,207.65 Servicing Fees 86,105.53 Master Servicing Fees 0.00 Trustee Fee 3,311.75 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 1,235,790.37 Realized Loss Amount 4,062.74 Cumulative Realized Loss 4,062.74 Percentage of Cumulative Losses 0.00 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 9.328832
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