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Previous: MELLON BANK PREMIUM FINANCE LOAN MASTER TRUST, 8-K, 2000-12-13 |
Next: NATIONAL SCIENTIFIC CORP/AZ, 4, 2000-12-13 |
<PAGE> 1
Exhibit 19.1
AFCO AGGREGATE RECEIVABLES BALANCE BY AMOUNT - IDENTIFIED PORTFOLIO
AS OF SEPTEMBER 30, 2000
<TABLE>
<CAPTION>
AGGREGATE RECEIVABLES NUMBER OF ACCTS PERCENT OF AGGREGATE PERCENT OF
BALANCE NUMBER OF RECEIVABLES AGGREGATE
ACCTS BALANCE RECEIVABLES
Balance
<S> <C> <C> <C> <C>
1. 5,000 or less 17,711 62.43% $30,961,346.80 5.77%
2. 5,000 - 10,000 3,965 13.98% $28,006,001.67 5.22%
3. 10,000 - 25,000 3,416 12.04% $53,652,352.80 10.01%
4. 25,000 - 50,000 1,507 5.31% $52,353,848.23 9.76%
5. 50,000 - 75,000 562 1.98% $34,084,686.95 6.36%
6. 75,000 - 100,000 324 1.14% $28,051,276.01 5.23%
7. 100,000 - 250,000 562 1.98% $86,048,014.09 16.05%
8. 250,000 - 500,000 182 0.64% $62,421,349.99 11.64%
9. 500,000 - 1,000,000 88 0.31% $62,744,558.58 11.70%
10. 1,000,000 - 5,000,000 51 0.18% $97,839,581.56 18.25%
11. Over 5,000,000 -- -- -- --
Total: 28,368 $536,163,016.68 (1)
</TABLE>
(1) Includes $1,324,842.77 of loan commitments
-7-
<PAGE> 2
AFCO COMPOSITION OF RECEIVABLES BY REMAINING INSTALLMENT TERM -
IDENTIFIED PORTFOLIO
AS OF SEPTEMBER 30, 2000
<TABLE>
<CAPTION>
REMAINING NUMBER OF ACCTS PERCENT AGGREGATE PERCENT OF
INSTALLMENT TERM OF NUMBER OF RECEIVABLES AGGREGATE
ACCTS BALANCE RECEIVABLES
BALANCE
<S> <C> <C> <C> <C>
03 Months or Less 10,925 38.51% $67,224,760.55 12.54%
04 to 06 Months 9,999 35.25% $172,432,419.35 32.16%
07 to 09 Months 7,083 24.97% $233,576,097.75 43.56%
10 to 12 Months 210 0.74% $30,482,020.53 5.69%
13 to 18 Months 81 0.29% $11,185,913.72 2.09%
More than 18 Months 70 0.25% $21,261,804.78 3.97%
Total: 28,368 $536,163,016.68 (1)
</TABLE>
(1) Includes $1,324,842.77 of loan commitments
-8-
<PAGE> 3
AFCO GEOGRAPHIC CONCENTRATION - IDENTIFIED PORTFOLIO
AS OF SEPTEMBER 30, 2000
<TABLE>
<CAPTION>
STATES AGGREGATE RECEIVABLES BALANCE PERCENTAGE OF AGGREGATE
RECEIVABLES BALANCE
<S> <C> <C>
CALIFORNIA $113,772,203.64 21.22%
TEXAS $58,956,729.49 11.00%
NEW YORK $43,346,411.45 8.08%
PENNSYLVANIA $36,582,867.27 6.82%
FLORIDA $31,863,392.87 5.94%
NEW JERSEY $21,335,470.72 3.98%
OHIO $18,074,972.98 3.37%
LOUISIANA $16,724,913.63 3.12%
ILLINOIS $15,582,670.29 2.91%
GEORGIA $14,432,391.54 2.69%
WASHINGTON $13,911,333.90 2.59%
MASSACHUSETTS $11,237,975.63 2.10%
COLORADO $10,341,608.42 1.93%
TENNESSEE $9,898,012.53 1.85%
VIRGINIA $8,126,884.58 1.52%
MICHIGAN $6,882,680.30 1.28%
CONNECTICUT $6,369,283.65 1.19%
ALASKA $6,288,155.43 1.17%
OREGON $6,107,995.35 1.14%
KENTUCKY $6,084,698.53 1.13%
WEST VIRGINIA $5,831,349.75 1.09%
INDIANA $5,604,464.06 1.05%
MISSOURI $5,485,867.04 1.02%
NORTH CAROLINA $5,146,467.24 0.96%
NEVADA $4,816,067.19 0.90%
IDAHO $4,686,153.50 0.87%
MARYLAND $4,544,530.42 0.85%
OKLAHOMA $4,511,034.59 0.84%
ALABAMA $4,482,290.18 0.84%
MISSISSIPPI $4,252,213.88 0.79%
ARIZONA $4,073,658.99 0.76%
SOUTH CAROLINA $4,035,082.68 0.75%
ARKANSAS $3,274,973.13 0.61%
WISCONSIN $3,079,803.10 0.57%
UTAH $2,766,031.09 0.52%
HAWAII $2,292,266.38 0.43%
MINNESOTA $2,285,121.90 0.43%
KANSAS $1,718,202.11 0.32%
NEBRASKA $1,665,827.54 0.31%
NEW HAMPSHIRE $1,389,438.48 0.26%
DISTRICT OF COLUMBIA $1,188,935.98 0.22%
MAINE $1,050,298.93 0.20%
MONTANA $628,924.97 0.12%
IOWA $480,541.16 0.09%
RHODE ISLAND $446,410.17 0.08%
WYOMING $377,512.43 0.07%
SOUTH DAKOTA $98,997.19 0.02%
DELAWARE $16,486.29 0.00%
NEW MEXICO $9,472.71 0.00%
NORTH DAKOTA $3,941.40 0.00%
VERMONT -- --
Total: $536,163,016.68 (1) 100.00%
</TABLE>
(1) Includes $1,324,842.77 of loan commitments
-9-
<PAGE> 4
LOAN LOSS EXPERIENCE (1)
(DOLLARS IN THOUSANDS)
IDENTIFIED PORTFOLIO
<TABLE>
<CAPTION>
NINE MONTHS
ENDED SEPTEMBER 30, YEAR ENDED DECEMBER 31,
2000 1999 1999 1998 1997
---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Average Outstanding Principal Balance (2) $534,883 $530,980 $527,470 $536,913 $562,229
Gross Charge-Offs 1,481 2,103 2,756 3,010 1,002
Recoveries 648 892 1,185 804 102
Net Charge-Offs 833 1,211 1,571 2,206 900
Net Charge Offs as a Percentage of Average 0.21% (3) 0.30% (3) 0.30% 0.41% 0.16%
Aggregate Outstanding Principal Balance
</TABLE>
(1) A loan is generally written off to the extent it is uncollected 270 days
after the effective date of cancellation of the related insurance policy.
(2) Based on the average beginning of the month balances.
(3) Calculated on an annualized basis.
-10-
<PAGE> 5
LOAN DELINQUENCY EXPERIENCE FOLLOWING CANCELLATION
IDENTIFIED PORTFOLIO
<TABLE>
<CAPTION>
AT SEPTEMBER 30, AT DECEMBER 31,
2000 1999 1999 1998 1997
---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Number of days a loan remains overdue
after cancellation of the related
insurance policy
31-89 days 0.82% 0.64% 0.95% 1.25% 1.17%
90-270 days 0.63% 0.69% 0.69% 0.91% 0.93%
Over 270 days (1) 0.00% 0.00% 0.00% 0.00% 0.00%
----- ----- ----- ----- -----
Total 1.45% 1.33% 1.64% 2.16% 2.10%
===== ===== ===== ===== =====
</TABLE>
(1) A loan is generally written off to the extent it is uncollected 270 days
after the effective date of cancellation of the related insurance policy.
As a result of a computer programming error discovered by the Servicer in
November 2000, the Loan Delinquency Experience Following Cancellation
information previously reported for January through August of 2000 understated
the actual percentages in each category of overdue loans. The charge-off
information reported under Loan Loss Experience was not affected by this error.
Due to the effort and expense that would be required to reformulate this data
for January through August 2000 and the small resulting benefit, the Servicer
has elected not to do so. Data at September 30, 2000 reflects, and data for
future months will reflect, the correction of this error. The Servicer believes
that there was no material change in loan delinquencies during the period
January through August 2000.
-11-
<PAGE> 6
ORIGINATORS' PORTFOLIO YIELD
IDENTIFIED PORTFOLIO
(DOLLARS IN THOUSANDS)
<TABLE>
<CAPTION>
NINE MONTHS
ENDED SEPTEMBER 30, YEAR ENDED DECEMBER 31,
--------------------------------- ---------------------------------------------
2000 1999 1999 1998 1997
---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Average Month Principal Balance (1) $534,883 $530,980 $527,470 $536,913 $562,229
Interest & Fee Income 53,879 60,676 63,462
42,927 41,029
Average Revenue Yield on 10.70% (3) 10.30% (3) 10.21% 11.30% 11.29%
Outstanding Principal Balance
Receivables (2)
</TABLE>
(1) Based on the average beginning of the month balances.
(2) Line 2 divided by line 1.
(3) Calculated on an annualized basis.
-12-
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