<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________
F O R M 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): August 14, 1996
CIT RV Trust 1996-B
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
33-07249-02
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(Commission File Number) (IRS Employer Identification No.)
c/o Mellon Bank (DE), National Association
as Owner Trustee
919 North Market Street
Wilmington, Delaware 19801
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(Address of principal executive offices and zip code)
(412) 234-4694
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Registrant's telephone number, including area code:
N/A
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(Former name or former address, if changed since last report)
<PAGE>
Item 7. Financial Statements and Exhibits.
---------------------------------
(c) Exhibits.
The following are filed herewith. The exhibit numbers correspond
with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99.1 Computational Materials
SIGNATURE
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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.
CIT RV TRUST 1996-B
By: MELLON BANK (DE),
NATIONAL ASSOCIATION,
as Owner Trustee
By: /s/ E.D. Renn
--------------------------------
Name: E.D. Renn
Title: Vice President
Dated: August 14, 1996
<PAGE>
EXHIBIT 99.1
COMPUTATIONAL MATERIALS
CIT RV Trust 1996-B
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THE CIT GROUP SECURITIZATION CORPORATION II
SELLER
THE CIT GROUP/SALES FINANCING, INC.
SERVICER
Computational Materials
Neither the Seller, the Servicer, the Issuer of the Notes and Certificates nor
any of its affiliates make any representation as to the accuracy or
completeness of the information herein. The information herein is preliminary,
and will be superseded by the applicable prospectus supplement and by any
other information subsequently filed with the Securities and Exchange
Commission. The information addresses only certain aspects of the applicable
security's characteristics and thus does not provide a complete assessment. As
such, the information may not reflect the impact of all structural
characteristics of the security. The assumptions underlying the information,
including structure and collateral, may be modified from time to time to
reflect changed circumstances. The attached term sheet is not intended to be a
prospectus and any investment decision with respect to the Notes or
Certificates should be made by you based solely upon all of the information
contained in the final prospectus. Under no circumstances shall the
information presented constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to
the delivery of a final prospectus relating to the securities. All information
described herein is preliminary, limited in nature and subject to completion
or amendment. No representation is made that the above referenced securities
will actually perform as described in any scenario presented. Neither the
Seller, the Servicer nor the Issuer of the Notes and Certificates have
prepared, reviewed or participated in the preparation hereof, nor are they
responsible for the accuracy hereof and they have not authorized the
dissemination hereof. A final prospectus and prospectus supplement may be
obtained by contacting the Syndicate Desk at .
<PAGE>
CIT RV 1996-B COMPUTATIONAL MATERIALS
COLLATERAL SUMMARY OF INITIAL CONTRACTS
Total Number of Initial Contracts: 6,775
Total Initial Contracts Balance: $164,276,093.91
Pre-Funded Amount: $75,723,906.09
<TABLE>
<CAPTION>
Range % Total # Loans
<S> <C> <C> <C>
Avg Loan Balance: $ 24,247.39 less than or equal to 19,999.99 26.91 4,114
Highest Balance: $298,209.13 20,000 - 39,999.99 24.80 1,393
Lowest Balance: $1,070.36 40,000 - 69,999.99 31.17 1,001
70,000 - 99,999.99 8.16 164
100,000 - 299,999.99 8.96 103
Range % Total # Loans
Wtd Avg Coupon: 10.31% 8.49% - 8.99% 15.73 539
Highest Coupon: 20.00% 9.00% - 9.99% 36.63 1,794
Lowest Coupon: 8.49% 10.00% - 10.99% 24.89 1,839
11.00% - 13.99% 21.65 2,413
greater than or equal to 14.00% 1.10 190
Range % Total # Loans
Wtd Avg Original Term: 154.34 12 - 59 1.76 576
Highest Original Term: 240 60 - 83 4.02 778
Lowest Original Term: 12 84 - 119 5.97 892
120 - 155 27.90 2,576
156 - 179 0.09 4
180 - 240 60.26 1,949
Range % Total # Loans
Wtd Avg Remaing Term: 152.30 9 - 69 4.94 1,203
Highest Remaining Term: 240 70 - 119 17.06 2,076
Lowest Remaining Term: 9 120 - 159 17.71 1,545
160 - 179 46.79 1,504
180 - 240 13.50 447
</TABLE>
Collateral Type
Motor Homes: 65.78%
Travel Trailers: 29.47%
Other: 4.75%
Contracts Backed by Used Collateral: 29.59%
Geographics: CA 22%, TX 10%, FL 7%, AZ 5%
<PAGE>
CIT RV 1996-B COMPUTATIONAL MATERIALS
STRUCTURE SUMMARY
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ABS PREPAYMENT ASSUMPTION 0% 0.5% 1.0% 1.2% 1.4% 1.6% 1.8% 2.0%
CLASS A-1: Expected Rating (Moodys/S&P) Aaa/AAA;
Legal Final 08/03
Expected Avg Life (yrs) 3.78 1.95 1.24 1.08 0.96 0.86 0.78 0.72
Expected Mod Duration (yrs) 3.21 1.76 1.16 1.01 0.90 0.82 0.74 0.68
Expected First Pay (mm/yy) 09/96 09/96 09/96 09/96 09/96 09/96 09/96 09/96
Expected Last Pay (mm/yy) 05/03 07/00 02/99 10/98 07/98 05/98 03/98 01/98
Expected Number of Payment Periods 81 47 30 26 23 21 19 17
CLASS A-2: Expected Rating (Moodys/S&P) Aaa/AAA;
Legal Final 02/07
Expected Avg Life (yrs) 8.57 5.61 3.61 3.13 2.75 2.45 2.21 2.01
Expected Mod Duration (yrs) 6.40 4.56 3.13 2.75 2.45 2.20 2.00 1.83
Expected First Pay (mm/yy) 05/03 07/00 02/99 10/98 07/98 05/98 03/98 01/98
Expected Last Pay (mm/yy) 10/06 02/04 06/01 10/00 04/00 11/99 07/99 04/99
Expected Number of Payment Periods 42 44 29 25 22 19 17 16
CLASS A-3: Expected Rating (Moodys/S&P) Aaa/AAA;
Legal Final 12/17 *
Expected Avg Life (yrs) 11.28 9.19 6.01 5.14 4.48 3.96 3.54 3.21
Expected Mod Duration (yrs) 7.72 6.67 4.81 4.23 3.76 3.38 3.06 2.80
Expected First Pay (mm/yy) 10/06 02/04 06/01 10/00 04/00 11/99 07/99 04/99
Expected Last Pay (mm/yy) 09/08 03/07 08/03 07/02 10/01 02/01 08/00 04/00
Expected Number of Payment Periods 24 38 27 22 19 16 14 13
CERTIFICATES: Expected Rating (Moodys/S&P) Baa2/BBB;
Legal Final 12/17 *
Expected Avg Life (yrs) 12.06 10.56 6.98 5.90 5.15 4.48 3.98 3.65
Expected Mod Duration (yrs) 7.86 7.22 5.34 4.67 4.18 3.72 3.36 3.11
Expected First Pay (mm/yy) 09/08 03/07 08/03 07/02 10/01 02/01 08/00 04/00
Expected Last Pay (mm/yy) 09/08 03/07 08/03 07/02 10/01 02/01 08/00 04/00
Expected Number of Payment Periods 1 1 1 1 1 1 1 1
</TABLE>
* To 10% clean-up call.
<TABLE>
<CAPTION>
Aggregate Loan Balance WAC WAOM WARM Seasoning
<S> <C> <C> <C>
Initial Pool $164,276,093.91 10.31% 154 152 2
Prefund 1 $ 37,861,953.05 10.30% 154 154 0
Prefund 2 $ 37,861,953.05 10.30% 154 154 0
</TABLE>
