8-K 1 collateral8k2001-9.txt CMSI 2001-9 COLLATERAL TERM SHEETS 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: June 8, 2001 --------------------------------- (Date of earliest event reported) CITICORP MORTGAGE SECURITIES, INC. (Packager and Servicer) (Issuer in Respect of the REMIC Pass-Through Certificates, Series 2001-9) ------------------------------------------------------------------------- (Exact name of registrant as specified in charter) Delaware 333-72459 13-3408713 ---------------------------------------------------------------------------- (State or other juris- (Commission (I.R.S. Employer diction of organization) File Nos.) Identification No.) 12855 North Outer Forty Drive, St. Louis, Missouri 63141 -------------------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code: (314) 851-6305 -------------------------------------------------------------------------- (Former name, former address and former fiscal year, if changed since last report.) Item 5. Other Events. The following are Collateral Term Sheets prepared by Citicorp Mortgage Securities, Inc. ("CMSI") in connection with the offering of its REMIC Pass- Through Certificates, Series 2001-9. The information set forth in these Collateral Term Sheets will be superseded in its entirety by the information set forth in the final prospectus for the Series 2001-9 REMIC Pass-Through Certificates and by any subsequent Collateral Term Sheets filed under Form 8-K subsequent to the date hereof related to the Series 2001-9 REMIC Pass-Through Certificates. On June 28, 2001, CMSI is to transfer to the Trustee Mortgage Loans (1) evidenced by Mortgage Notes with an aggregate Adjusted Balance outstanding (after deducting principal payments due on or before June 1, 2001) as of June 1, 2001 of $255,403,907.34. Information below is provided with respect to all Mortgage Loans expected to be included in the Mortgage Pool. The total number of Mortgage Loans as of June 1, 2001 was 606. The weighted average interest rate on the Mortgage Loans (before deduction of servicing fee) (the "Note Rate of the Mortgage Loans") as of June 1, 2001 was 7.271%. The weighted average remaining term to stated maturity of the Mortgage Loans as of June 1, 2001 was 357.62 months. All Mortgage Loans have original maturities of at least 15 but no more than 30 years. None of the Mortgage Loans were originated prior to March 1, 1999 or after June 1, 2001. The weighted average original term to stated maturity of the Mortgage Loans as of June 1, 2001 was 359.38 months. None of the Mortgage Loans has a scheduled maturity later than June 1, 2031. Each Mortgage Loan had an original principal balance of not less than $63,995 nor more than $1,071,740. Mortgage Loans having an aggregate Adjusted Balance of $9,542,443 as of June 1, 2001 had loan-to-value ratios at origination in excess of 80%, but no Mortgage Loans had loan-to-value ratios in excess of 95%. The weighted average loan-to-value ratio at origination of the Mortgage Loans as of June 1, 2001 was 70.3%. No more than $2,676,117 of the Mortgage Loans are secured by Mortgaged Properties located in any one zip code. At least 99% (2) of the Mortgage Loans are secured by Mortgaged Properties determined by CitiMortgage, Inc. to be the primary residence of the borrower ("Mortgagor"). ----------- 1 Capitalized terms used herein and not defined have the meaning assigned thereto in the form of Prospectus included in CMSI's Registration Statement(333-72459). 2 Such Percentages are expressed as a percentage of the aggregate Adjusted Balance of the Mortgage Loans having such characteristics relative to the Adjusted Balance of all Mortgage Loans. At least 99% of the Mortgage Loans will be Mortgage Loans originated using loan underwriting policies which require, among other things, proof of income and liquid assets and telephone verification of employment, or are refinanced Mortgage Loans originated using alternative or streamlined underwriting policies. No more than 1% of the Mortgage Loans will be Mortgage Loans originated using a loan underwriting policy which, among other things, requires verification of employment and may require proof of liquid assets, but does not require verification of income as stated on the loan application. No more than 58% of the Mortgage Loans will be refinanced Mortgage Loans originated using alternative or streamlined underwriting policies. All of the Mortgage Loans which had loan-to-value ratios greater than 80% at origination had primary mortgage insurance as of such date. In the case of the Mortgage Loans for which additional collateral was pledged, taken as a group: 1. the number of such loans is 4; 2. such loans have an aggregate Adjusted Balance of $1,012,868; 3. the weighted average loan-to-value ratio of such loans, taking into account the loanable value (as defined in the Prospectus) of the additional pledged collateral, is 80.0%; and 4. the weighted average loan-to-value ratio of such loans, without taking into account the loanable value of the additional pledged collateral, is 98.1%. Discount Mortgage Loans will consist of Mortgage Loans with Net Note Rates (NNRs) less than 6.750%. Premium Mortgage Loans will consist of Mortgage Loans with NNRs greater than or equal to 6.750%. The aggregate Adjusted Balance outstanding as of the Cut-off Date of the Discount Mortgage Loans and the Premium Mortgage Loans was $27,080,661 and $228,323,246, respectively. The weighted average Note Rate of the Discount Mortgage Loans and the Premium Mortgage Loans, as of the Cut-off Date, was 6.786% and 7.328%, respectively. The weighted average remaining term to stated maturity of the Discount Mortgage Loans and the Premium Mortgage Loans, as of the Cut-off Date, was 358.10 months and 357.57 months, respectively. The following tables set forth information regarding the Mortgage Loans as of June 1, 2001. YEARS OF ORIGINATION OF MORTGAGE LOANS Number of Aggregate Principal Year Originated Loans Balances Outstanding --------------- -------- -------------------- 1999 1 $528,580 2000 23 $7,059,542 2001 582 $247,815,785 Total 606 $255,403,907 === ============ TYPES OF DWELLINGS SUBJECT TO MORTGAGE LOANS Type of Number of Aggregate Principal Dwelling Unit Loans Balances Outstanding ------------- --------- -------------------- Detached Houses 558 $235,056,452 Multi-family Dwellings* 8 $4,246,522 Townhouses 16 $7,522,022 Condominium Units (one to four 11 $3,401,984 stories high) Condominium Units (over four 3 $1,141,771 stories high) Cooperative Units 10 $4,035,156 Total 606 $255,403,907 === ============ ----------- * Multi-family dwellings are 2-family and 4-family. NUMBER OF UNITS IN DWELLINGS SUBJECT TO MORTGAGE LOANS Type of Number of Aggregate Principal Dwelling Unit Loans Balances Outstanding ------------- --------- -------------------- 1-family 598 $251,157,385 2-family 7 $3,606,276 4-family 1 $640,247 Total 606 $255,403,907 === ============ SIZE OF MORTGAGE LOANS Outstanding Principal Number of Aggregate Principal Balance by Loan Size Loans Balances Outstanding --------------------- --------- -------------------- $149,999 and under 9 $935,267 $150,000 through $199,999 2 $372,995 $200,000 through $249,999 0 $0 $250,000 through $299,999 49 $14,405,135 $300,000 through $349,999 135 $43,990,757 $350,000 through $399,999 132 $49,678,711 $400,000 through $449,999 89 $37,922,133 $450,000 through $499,999 73 $34,801,690 $500,000 through $549,999 36 $18,816,190 $550,000 through $599,999 19 $10,943,462 $600,000 through $649,999 25 $15,742,293 $650,000 through $699,999 25 $17,187,798 $700,000 through $749,999 2 $1,494,742 $750,000 through $799,999 1 $798,748 $800,000 through $849,999 3 $2,497,028 $850,000 through $899,999 1 $870,737 $900,000 through $949,999 2 $1,897,771 $950,000 through $999,999 1 $978,428 $1,000,000 and over 2 $2,070,021 Total 606 $255,403,907 === ============ DISTRIBUTION OF MORTGAGE LOANS BY NOTE RATES Mortgage Loan Number of Aggregate Principal Note Rate Loans Balances Outstanding ------------- --------- -------------------- 6.250% - 6.500% 8 $3,005,787 6.501% - 7.000% 117 $48,574,609 7.001% - 7.500% 400 $172,291,940 7.501% - 8.000% 72 $29,732,687 8.001% - 8.500% 7 $1,651,467 8.501% - 9.000% 1 $63,842 9.001% - 9.375% 1 $83,576 Total 606 $255,403,907 === ============ DISTRIBUTION OF MORTGAGE LOANS BY LOAN-TO-VALUE RATIOS AT ORIGINATION Number of Aggregate Principal Loan-To-Value Ratio Loans Balances Outstanding ------------------- --------- -------------------- 65.00% and Below 150 $67,288,713 65.001% - 75.000% 177 $75,785,298 75.001% - 80.000% 254 $102,787,454 80.001% - 85.000% 4 $2,211,454 85.001% - 90.000% 20 $7,031,223 90.001% - 95.000% 1 $299,766 Total 606 $255,403,907 === ============ GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES BY STATE Number of Aggregate Principal State Loans Balances Outstanding ----- -------- -------------------- Alabama 3 $1,066,816 Arizona 15 $5,972,211 Arkansas 3 $1,159,353 California 211 $92,001,279 Colorado 18 $7,654,157 Connecticut 19 $8,708,943 Delaware 2 $1,093,913 District of Columbia 3 $1,374,694 Florida 8 $3,103,331 Georgia 44 $17,279,203 Idaho 4 $1,439,428 Illinois 12 $4,908,176 Indiana 1 $337,137 Iowa 1 $362,102 Kansas 2 $729,421 Louisiana 1 $370,274 Maine 1 $467,000 Maryland 24 $10,417,585 Massachusetts 19 $7,566,220 Michigan 5 $1,723,535 Minnesota 5 $2,446,338 Missouri 8 $3,106,116 Nevada 1 $429,656 New Jersey 28 $11,764,256 New Mexico 3 $1,373,929 New York 32 $13,389,344 North Carolina 20 $8,161,271 Ohio 1 $424,451 Oregon 2 $669,697 Pennsylvania 7 $2,920,742 South Carolina 5 $1,674,766 Tennessee 8 $4,155,347 Texas 28 $12,192,684 Utah 4 $1,572,147 Vermont 1 $83,576 Virginia 38 $15,731,986 Washington 19 $7,572,822 Total 606 $255,403,907 === ============ SIGNATURES 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 thereunto duly authorized. CITICORP MORTGAGE SECURITIES, INC. (Registrant) By: /s/ Howard Darmstadter ------------------------- Howard Darmstadter Assistant Secretary Dated: June 8, 2001