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):
July 16, 1999
METRIS MASTER TRUST
METRIS RECEIVABLES, INC.
(Originator of the Metris Master Trust)
(Exact name of registrant as specified in its charter)
Delaware 033-99514 41-1810301
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
600 South Highway 169, Suite 300, St. Louis Park, Minnesota 55426
(Address of principal executive offices)
(612) 417-5645
(Registrant's telephone number, including area code)
METRIS RECEIVABLES, INC.
Current Report on Form 8-K
Item 7. Financial Statements and Exhibits
Ex. 20a Series 1996-1 June Certificateholders' Statement
Ex. 20b Series 1997-1 June Certificateholders' Statement
Ex. 20c Series 1997-2 June Certificateholders' Statement
Ex. 20d Series 1998-2 June Securityholder's Statement
Ex. 20e Series 1998-3 June Securityholder's Statement
SIGNATURE
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.
METRIS RECEIVABLES, INC.
By /s/ Paul T. Runice
Paul T. Runice
Senior Vice President and Treasurer
Dated: July 16, 1999
<TABLE>
Metris Receivables, Inc. Metris Master Trust Monthly Report
Certificateholder's Statement Series 1996-1 Jun-1999
Section 5.2 Class A Class B Class C
<S> <C> <C> <C>
(i) Certificate Amount.......................................... 518,000,00.00 87,500,000.00 50,000,000.00
(ii) Certificate Principal Distributed.......................... 34,533,333.33 0.00 0.00
Principal Per 1000..................................... 66.66666667 0.00000000 0.00000000
(iii) Certificate Interest Distributed.......................... 928,083.33 495,833.33 228,526.04
Interest Per 1000...................................... 5.37500000 5.66666667 4.57052083
(iv) Principal Collections...................................... 26,081,996.16 4,405,742.59 2,517,567.22
(v) Finance Charge Collections................................. 4,254,178.34 1,909,544.21 1,091,168.11
Recoveries............................................... 68,568.30 34,747.45 19,855.68
Interest Earned on Accounts.............................. 0.00 0.00 0.00
Total Finance Charge Collections......................... 4,322,746.64 1,944,291.66 1,111,023.79
Total Collections................................ 30,404,742.80 6,350,034.25 3,628,591.01
(vi) Aggregate Amount of Principal Receivables.................. -- -- --
Invested Amount (End of Mth)............................. 172,666,666.67 87,500,000.00 50,000,000.00
Floating Allocation Percentage........................... 4.1344171% 2.0951438% 1.1972250%
Invested Amount (Beg. of Mth)............................ 207,200,000.00 87,500,000.00 50,000,000.00
Average Daily Invested Amount............................ -- -- --
(vii) Receivable Delinquencies (as a % of Total Receivables) -- -- --
Current................................................. -- -- --
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) -- -- --
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) -- -- --
90 Days and Over (60+ Days Contractually Delinquent).... -- -- --
Total Receivables............................. -- -- --
(viii) Aggregate Investor Default Amount........................ -- -- --
As a % of Average Daily Invested Amount
(Annualized based on 365 days/year).................... -- -- --
(ix) Charge-Offs................................................ 0.00 0.00 0.00
(x) Servicing Fee.............................................. -- -- --
(xi) Pool Factor................................................ 0.2666667 1.0000000 1.0000000
(xii) Unreimbursed Reallocated Principal Collections............ -- 0.00 0.00
(xiii) Excess Funding Account Balance........................... -- -- --
Prefunding Account Balance............................. -- -- --
(xiv) Class C Reserve Amount.................................... -- -- --
Class C Reserve Account Balance........................ -- -- --
Class C Trigger Event Occurrence....................... -- -- --
Average Net Portfolio Yield..................................... -- -- --
Minimum Base Rate............................................... -- -- --
Section 5.2 Class D Total
(i) Certificate Amount......................................... 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed......................... -- 34,533,333.33
Principal Per 1000.................................... -- --
(iii) Certificate Interest Distributed......................... -- 1,652,442.71
Interest Per 1000..................................... -- --
(iv) Principal Collections..................................... 2,235,963.85 35,241,269.82
(v) Finance Charge Collections................................ 968,859.48 8,223,750.14
Recoveries.............................................. 17,671.56 140,842.99
Interest Earned on Accounts............................. 0.00 0.00
Total Finance Charge Collections........................ 986,531.04 8,364,593.13
Total Collections............................... 3,222,494.89 43,605,862.95
(vi) Aggregate Amount of Principal Receivables................. -- 4,176,324,332.85
Invested Amount (End of Mth)............................ 44,500,000.00 354,666,666.67
Floating Allocation Percentage.......................... 1.0655303% 8.4923162%
Invested Amount (Beg. of Mth)........................... 44,500,000.00 389,200,000.00
Average Daily Invested Amount........................... -- 377,602,018.47
(vii) Receivable Delinquencies (as a % of Total Receivables) -- --
Current................................................ 86.15% 3,784,553,279.82
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 6.07% 266,587,771.37
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 2.25% 98,962,839.08
90 Days and Over (60+ Days Contractually Delinquent)... 5.52% 242,677,920.83
Total Receivables............................ 100.00% 4,392,781,811.10
(viii) Aggregate Investor Default Amount....................... -- 3,765,572.47
As a % of Average Daily Invested Amount
(Annualized based on 365 days/year)................... -- 12.13%
(ix) Charge-Offs............................................... 0.00 0.00
(x) Servicing Fee............................................. -- 620,858.45
(xi) Pool Factor............................................... -- --
(xii) Unreimbursed Reallocated Principal Collections........... 0.00 0.00
(xiii) Excess Funding Account Balance.......................... -- 0.00
Prefunding Account Balance............................ -- 0.00
(xiv) Class C Reserve Amount................................... -- 17,500,000.00
Class C Reserve Account Balance....................... -- 17,500,000.00
Class C Trigger Event Occurrence...................... -- Yes
Average Net Portfolio Yield.................................... -- 14.8184%
Minimum Base Rate.............................................. -- 8.4236%
</TABLE>
<TABLE>
Metris Receivables, Inc. Metris Master Trust Monthly Report
Certificateholder's Statement Series 1997-1 Jun-1999
Section 5.2 Class A Class B Class C
<S> <C> <C> <C>
(i) Certificate Amount........................................ 616,250.000.00 106,250,000.00 72,250,000.00
(ii) Certificate Principal Distributed........................ 0.00 0.00 0.00
(iii) Certificate Interest Distributed........................ 3,528,031.25 629,531.25 341,860.41
(iv) Principal Collections.................................... 31,029,015.69 5,349,830.28 3,637,884.60
(v) Finance Charge Collections............................... 13,448,647.06 2,318,732.27 1,576,737.94
Recoveries............................................. 244,721.32 42,193.33 28,691.46
Principal Account Earnings............................. 0.00 0.00 0.00
Accum. Period Reserve Acct. Earnings.................... 0.00 0.00 0.00
Pre-Funding Account Earnings............................ 0.00 0.00 0.00
Total Finance Charge Collections................... 13,693,368.38 2,360,925.60 1,605,429.40
Total Collections........................ 44,722,384.07 7,710,755.88 5,243,314.00
(vi) Aggregate Amount of Principal Receivables................ -- -- --
Invested Amount (End of Mth)........................... 616,250,000.00 106,250,000.00 72,250,000.00
Floating Allocation Percentage......................... 14.7557984% 2.5441032% 1.7299902%
Fixed/Floating Allocation Percentage................... N/A N/A N/A
Invested Amount (Beg. of Mth).......................... 616,250,000.00 106,250,000.00 72,250,000.00
Average Daily Invested Amount.......................... -- -- --
(vii) Receivable Delinquencies (as a % of Total Receivables) -- -- --
Current............................................... -- -- --
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) -- -- --
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) -- -- --
90 Days and Over (60+ Days Contractually Delinquent) -- -- --
Total Receivables........................... -- -- --
(viii) Aggregate Investor Default Amount...................... -- -- --
As a % of Average Daily Invested Amount
(Annualized based on 365 days/year).................. -- -- --
(ix) Charge-Offs.............................................. 0.00 0.00 0.00
(x) Servicing Fee............................................ -- -- --
(xi) Pool Factor.............................................. 1.0000000 1.0000000 1.0000000
(xii) Unreimbursed Reallocated Principal Collections.......... -- 0.00 0.00
(xiii) Excess Funding Account Balance......................... -- -- --
Prefunding Account Balance........................... -- -- --
(xiv) Class C Reserve Amount.................................. -- -- --
Class C Reserve Account Balance...................... -- -- --
Class C Trigger Event Occurrence..................... -- -- --
(xv) Number of New Accounts Added to the Trust............... -- -- --
(xvi) Average Net Portfolio Yield............................. -- -- --
(xvii) Minimum Base Rate...................................... -- -- --
(xviii) Principal Funding Account Balance..................... -- -- --
(xix) Accumulation Shortfall.................................. -- -- --
(xx) Scheduled Commencement date of the Accumulation Period -- -- --
Accumulation Period Length............................ -- -- --
(xxi) Required Reserve Account Amount......................... -- -- --
Available Reserve Account Amount...................... -- -- --
Covered Amount........................................ -- -- --
Section 5.2 Class D Total
(i) Certificate Amount........................................ 55,250,000.00 850,000,000.00
(ii) Certificate Principal Distributed........................ -- 0.00
(iii) Certificate Interest Distributed........................ -- 4,499,422.91
(iv) Principal Collections.................................... 2,770,952.33 42,787,682.90
(v) Finance Charge Collections............................... 1,200,264.79 18,544,382.06
Recoveries............................................. 21,940.53 337,546.64
Principal Account Earnings............................. 0.00 0.00
Accum. Period Reserve Acct. Earnings................... 0.00 0.00
Pre-Funding Account Earnings........................... 0.00 0.00
Total Finance Charge Collections....................... 1,222,205.32 18,881,928.70
Total Collections.............................. 3,993,157.65 61,669,611.60
(vi) Aggregate Amount of Principal Receivables................ -- 4,176,324,332.85
Invested Amount (End of Mth)........................... 55,250,000.00 850,000,000.00
Floating Allocation Percentage......................... 1.3229337% 20.3528254%
Fixed/Floating Allocation Percentage................... N/A 0.0000000%
Invested Amount (Beg. of Mth).......................... 55,250,000.00 850,000,000.00
Average Daily Invested Amount.......................... -- 849,795,262.92
(vii) Receivable Delinquencies (as a % of Total Receivables) -- --
Current............................................... 86.15% 3,784,553,279.82
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 6.07% 266,587,771.37
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 2.25% 98,962,839.08
90 Days and Over (60+ Days Contractually Delinquent) 5.52% 242,677,920.83
Total Receivables........................... 100.00% 4,392,781,811.10
(viii) Aggregate Investor Default Amount...................... -- 8,466,967.28
As a % of Average Daily Invested Amount
(Annualized based on 365 days/year).................. -- 12.12%
(ix) Charge-Offs.............................................. -- 0.00
(x) Servicing Fee............................................ -- 1,397,260.27
(xi) Pool Factor.............................................. -- --
(xii) Unreimbursed Reallocated Principal Collections.......... 0.00 0.00
(xiii) Excess Funding Account Balance......................... -- 0.00
Prefunding Account Balance........................... -- 0.00
(xiv) Class C Reserve Amount.................................. -- 21,250,000.00
Class C Reserve Account Balance...................... -- 21,250,000.00
Class C Trigger Event Occurrence..................... -- Yes
(xv) Number of New Accounts Added to the Trust............... -- 84,010
(xvi) Average Net Portfolio Yield............................. -- 14.9113%
(xvii) Minimum Base Rate...................................... -- 8.8115%
(xviii) Principal Funding Account Balance..................... -- 0.00
(xix) Accumulation Shortfall................................. -- N/A
(xx) Scheduled Commencement date of the Accumulatio Period -- March 2001
Accumulation Period Length........................... -- N/A
(xxi) Required Reserve Account Amount......................... -- N/A
Available Reserve Account Amount..................... -- N/A
Covered Amount....................................... -- N/A
</TABLE>
<TABLE>
Metris Receivables, Inc. Metris Master Trust Monthly Report
Certificateholder's Statement Series 1997-2 Jun-1999
Section 5.2 Class A Class B Class C
<S> <C> <C> <C>
(i) Certificate Amount............................................ 455,000,000.00 101,500,000.00 98,000,000.00
(ii) Certificate Principal Distributed............................ 0.00 0.00 0.00
(iii) Certificate Interest Distributed............................ 1,914,649.48 445,919.81 479,488.82
(iv) Principal Collections........................................ 22,909,861.48 5,110,661.41 4,934,431.70
(v) Finance Charge Collections................................... 9,929,629.88 2,215,071.30 2,138,689.49
Recoveries................................................. 180,686.73 40,307.04 38,917.14
Principal Account Earnings................................. 0.00 0.00 0.00
Accum. Period Reserve Acct. Earnings........................ 0.00 0.00 0.00
Pre-Funding Account Earnings................................ 0.00 0.00 0.00
Total Finance Charge Collections....................... 10,110,316.61 2,255,378.34 2,177,606.63
Total Collections............................ 33,020,178.09 7,366,039.75 7,112,038.33
(vi) Aggregate Amount of Principal Receivables.................... -- -- --
Invested Amount (End of Mth)............................... 455,000,000.00 101,500,000.00 98,000,000.00
Floating Allocation Percentage............................. 10.8947477% 2.4303668% 2.3465610%
Fixed/Floating Allocation Percentage....................... N/A N/A N/A
Invested Amount (Beg. of Mth).............................. 455,000,000.00 101,500,000.00 98,000,000.00
Average Daily Invested Amount.............................. -- -- --
(vii) Receivable Delinquencies (as a % of Total Receivables)...... -- -- --
Current................................................... -- -- --
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) -- -- --
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) -- -- --
90 Days and Over (60+ Days Contractually Delinquent) -- -- --
Total Receivables............................... -- -- --
(viii) Aggregate Investor Default Amount.......................... -- -- --
As a % of Average Daily Invested Amount
(Annualized based on 365 days/year)...................... -- -- --
(ix) Charge-Offs.................................................. 0.00 0.00 0.00
(x) Servicing Fee................................................ -- -- --
(xi) Pool Factor.................................................. 1.0000000 1.0000000 1.0000000
(xii) Unreimbursed Reallocated Principal Collections.............. -- 0.00 0.00
(xiii) Excess Funding Account Balance............................. -- -- --
Prefunding Account Balance............................... -- -- --
(xiv) Class C Reserve Amount...................................... -- -- --
Class C Reserve Account Balance.......................... -- -- --
Class C Trigger Event Occurrence......................... -- -- --
(xv) Number of New Accounts Added to the Trust................... -- -- --
(xvi) Average Net Portfolio Yield................................. -- -- --
(xvii) Minimum Base Rate.......................................... -- -- --
(xviii) Principal Funding Account Balance......................... -- -- --
(xix) Accumulation Shortfall...................................... -- -- --
(xx) Scheduled Commencement date of the Accumulation Period....... -- -- --
Accumulation Period Length................................ -- -- --
(xxi) Required Reserve Account Amount............................. -- -- --
Available Reserve Account Amount.......................... -- -- --
Covered Amount............................................ -- -- --
Section 5.2 Class D Total
(i) Certificate Amount............................................ 45,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed............................ -- 0.00
(iii) Certificate Interest Distributed............................ -- 2,840,058.11
(iv) Principal Collections........................................ 2,280,392.83 35,235,347.42
(v) Finance Charge Collections................................... 987,678.40 15,271,069.06
Recoveries................................................. 18,068.67 277,979.59
Principal Account Earnings................................. 0.00 0.00
Accum. Period Reserve Acct. Earnings....................... 0.00 0.00
Pre-Funding Account Earnings............................... 0.00 0.00
Total Finance Charge Collections........................... 1,005,747.07 15,549,048.65
Total Collections.................................. 3,286,139.90 50,784,396.07
(vi) Aggregate Amount of Principal Receivables.................... -- 4,176,324,332.85
Invested Amount (End of Mth)............................... 45,500,000.00 700,000,000.00
Floating Allocation Percentage............................. 1.0894748% 16.7611503%
Fixed/Floating Allocation Percentage....................... N/A 0.0000000%
Invested Amount (Beg. of Mth).............................. 45,500,000.00 700,000,000.00
Average Daily Invested Amount.............................. -- 699,803,044.34
(vii) Receivable Delinquencies (as a % of Total Receivables)...... -- --
Current................................................... 86.15 3,784,553,279.82
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 6.07 266,587,771.37
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 2.25 98,962,839.08
90 Days and Over (60+ Days Contractually Delinquent) 5.52 242,677,920.83
Total Receivables............................... 100.00 4,392,781,811.10
(viii) Aggregate Investor Default Amount.......................... -- 6,972,493.82
As a % of Average Daily Invested Amount
(Annualized based on 365 days/year)...................... -- 12.12%
(ix) Charge-Offs.................................................. -- 0.00
(x) Servicing Fee................................................ -- 1,150,684.93
(xi) Pool Factor.................................................. -- --
(xii) Unreimbursed Reallocated Principal Collections.............. 0.00 0.00
(xiii) Excess Funding Account Balance............................. -- 0.00
Prefunding Account Balance............................... -- 0.00
(xiv) Class C Reserve Amount...................................... -- 0.00
Class C Reserve Account Balance.......................... -- 0.00
Class C Trigger Event Occurrence......................... -- No
(xv) Number of New Accounts Added to the Trust................... -- 84,010
(xvi) Average Net Portfolio Yield................................. -- 14.9111%
(xvii) Minimum Base Rate.......................................... -- 7.3867%
(xviii) Principal Funding Account Balance......................... -- 0.00
(xix) Accumulation Shortfall..................................... -- N/A
(xx) Scheduled Commencement date of the Accumulatio Period....... -- October 2001
Accumulation Period Length............................... -- N/A
(xxi) Required Reserve Account Amount............................. -- N/A
Available Reserve Account Amount......................... -- N/A
Covered Amount........................................... -- N/A
</TABLE>
<TABLE>
Metris Receivables, Inc. Metris Master Trust Monthly Report
Securityholder's Statement Series 1998-2 Jun-1999
Section 5.2 Class A Class B Total
<S> <C> <C> <C>
(i) Security Amount........................................... 500,000,000.00 49,450,550.00 549,450,550.00
(ii) Security Principal Distributed............................ 0.00 -- 0.00
(iii) Security Interest Distributed............................ 2,244,982.64 -- 2,244,982.64
(iv) Principal Collections..................................... 25,175,671.96 2,489,901.65 27,665,573.61
(v) Finance Charge Collections................................ 10,911,681.17 1,079,177.29 11,990,858.46
Recoveries.............................................. 198,556.85 19,637.49 218,194.34
Initial Interest Funding Account Deposit................ 0.00 0.00 0.00
Interest Earned on Accounts............................. 0.00 0.00 0.00
Total Finance Charge Collections.................... 11,110,238.02 1,098,814.78 12,209,052.80
Total Collections......................... 36,285,909.98 3,588,716.43 39,874,626.41
(vi) Aggregate Amount of Principal Receivables................. -- -- 4,176,324,332.85
Invested Amount (End of Mth)............................ 500,000,000.00 49,450,550.00 549,450,550.00
Floating Allocation Percentage.......................... 11.9722502% 1.1840687% 13.1563190%
Fixed/Floating Allocation Percentage.................... 11.9722502% 1.1840687% 13.1563190%
Invested Amount (Beg. of Mth)........................... 500,000,000.00 49,450,550.00 549,450,550.00
Average Daily Invested Amount........................... -- -- 549,450,550.00
(vii) Receivable Delinquencies (as a % of Total Receivables) -- -- --
Current................................................ -- 86.15% 3,784,553,279.82
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) -- 6.07% 266,587,771.37
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) -- 2.25% 98,962,839.08
90 Days and Over (60+ Days Contractually Delinquent) -- 5.52% 242,677,920.83
Total Receivables............................ -- 100.00% 4,392,781,811.10
(viii) Aggregate Investor Default Amount....................... -- -- 5,474,436.38
As a % of Average Daily Invested Amount
(Annualized based on 365 days/year)................... -- -- 12.12
(ix) Charge-Offs............................................... 0.00 0.00 0.00
(x) Servicing Fee............................................. -- -- 903,206.38
(xi) Unreimbursed Redirected Principal Collections............. -- -- 0.00
(xii) Excess Funding Account Balance........................... -- -- 0.00
(xiii) New Accounts Added...................................... -- -- 84,010
(xiv) Average Gross Portfolio Yield............................ -- -- 27.03%
Average Net Portfolio Yield........................... -- -- 14.91%
(xv) Minimum Base Rate......................................... -- -- 7.57%
Excess Spread.......................................... -- -- 7.34%
(xvi) Principal Funding Account Balance........................ -- -- 0.00
(xvii) Accumulation Shortfall.................................. -- -- 0.00
(xviii) Scheduled date for the commencement of the Accumulation Period -- -- April 2000
Accumulation Period Length............................. -- -- N/A
(xix) Principal Funding Account Investment Proceeds Deposit.... -- -- 0.00
Required Reserve Account Amount........................ -- -- 0.00
Available Reserve Account Amount....................... -- -- 0.00
Covered Amount......................................... -- -- 0.00
(xx) Aggregrate Interest Rate Caps Notional Amount............ -- -- 500,000,000.00
Deposit to the Caps Proceeds Account................... -- -- 0.00
(xxi) Policy Claim Amount...................................... -- -- 0.00
</TABLE>
<TABLE>
Metris Receivables, Inc. Metris Master Trust Monthly Report
Securityholder's Statement Series 1998-3 Jun-1999
Section 5.2 Class A Class B Total
<S> <C> <C> <C>
(i) Security Amount.............................................. 500,000,000.00 49,450,550.00 549,450,550.00
(ii) Security Principal Distributed............................... 0.00 -- 0.00
(iii) Security Interest Distributed............................... 2,285,260.42 -- 2,285,260.42
(iv) Principal Collections........................................ 25,175,671.96 2,489,901.65 27,665,573.61
(v) Finance Charge Collections................................... 10,911,681.17 1,079,177.29 11,990,858.46
Recoveries................................................. 198,556.85 19,637.49 218,194.34
Initial Interest Funding Account Deposit................... 0.00 0.00 0.00
Interest Earned on Accounts................................ 0.00 0.00 0.00
Total Finance Charge Collections....................... 11,110,238.02 1,098,814.78 12,209,052.80
Total Collections............................ 36,285,909.98 3,588,716.43 39,874,626.41
(vi) Aggregate Amount of Principal Receivables.................... -- -- 4,176,324,332.85
Invested Amount (End of Mth)............................... 500,000,000.00 49,450,550.00 549,450,550.00
Floating Allocation Percentage............................. 11.9722502% 1.1840687% 13.1563190%
Fixed/Floating Allocation Percentage....................... 11.9722502% 1.1840687% 13.1563190%
Invested Amount (Beg. of Mth).............................. 500,000,000.00 49,450,550.00 549,450,550.00
Average Daily Invested Amount.............................. -- -- 549,450,550.00
(vii) Receivable Delinquencies (as a % of Total Receivables)...... -- -- --
Current................................................... -- 86.15% 3,784,553,279.82
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) -- 6.07% 266,587,771.37
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) -- 2.25% 98,962,839.08
90 Days and Over (60+ Days Contractually Delinquent) -- 5.52% 242,677,920.83
Total Receivables............................... -- 100.00% 4,392,781,811.10
(viii) Aggregate Investor Default Amount.......................... -- -- 5,474,436.38
As a % of Average Daily Invested Amount
(Annualized based on 365 days/year)...................... -- -- 12.12%
(ix) Charge-Offs.................................................. 0.00 0.00 0.00
(x) Servicing Fee................................................ -- -- 903,206.38
(xi) Unreimbursed Redirected Principal Collections................ -- -- 0.00
(xii) Excess Funding Account Balance.............................. -- -- 0.00
(xiii) New Accounts Added......................................... -- -- 84,010
(xiv) Average Gross Portfolio Yield............................... -- -- 27.03%
Average Net Portfolio Yield.............................. -- -- 14.91%
(xv) Minimum Base Rate............................................ -- -- 7.67%
Excess Spread............................................. -- -- 7.24%
(xvi) Principal Funding Account Balance........................... -- -- 0.00
(xvii) Accumulation Shortfall..................................... -- -- 0.00
(xviii) Scheduled date for the commencement of the Accumulation Period -- -- January 2001
Accumulation Period Length................................ -- -- N/A
(xix) Principal Funding Account Investment Proceeds Deposit....... -- -- 0.00
Required Reserve Account Amount........................... -- -- 0.00
Available Reserve Account Amount.......................... -- -- 0.00
Covered Amount............................................ -- -- 0.00
(xx) Aggregrate Interest Rate Caps Notional Amount............... -- -- 500,000,000.00
Deposit to the Caps Proceeds Account...................... -- -- 0.00
(xxi) Policy Claim Amount......................................... -- -- 0.00
</TABLE>
