BOMBARDIER CAPITAL MORTGAGE SECURITIZATION CORP
8-K, 2000-12-29
ASSET-BACKED SECURITIES
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Via EDGAR Transmission
     12/28/00

Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549-1004

RE:           Bombardier Capital Mortgage Securitization Corporation:
              BCMSC Trust 2000-A

Ladies and Gentlemen:

On  behalf  of  Bombardier  Capital  Mortgage  Securitization  Corporation  (The
"Registrant"),  we hereby file with the  Commission a Current Report on Form 8-K
(The  "Report")  on behalf of the BCMSC Trust 2000-A and deliver to you herewith
the following documents:

              One  copy  of  the  Report,  including  the  exhibit  being  filed
              therewith, together with an exhibit index:

Please acknowledge receipt and filing of this letter to
Bombardier Capital Mortgage Securitization Corporation:
1600 Mountain View Drive, Colchester, VT 05446.

Very truly yours,
 /s/ Blaine Filthaut
Blaine Filthaut
Bombardier Capital Mortgage Securitization Corporation:


                       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 28, 2000


                    BOMBARDIER CAPITAL MORTGAGE SECURITIZATION CORPORATION
                                            (Depositor)
                    (Exact name of registrant as specified in its charter)


                                             on behalf of


                      BCMSC Trust Series 2000-A

Delaware                            333-40113                03-0355080
(State or other jurisdiction        (Commission             (IRS Employer
of Incorporation)                   File Number)            Identification No.)

1600 Mountain View Drive, Colchester, Vermont          05446
(Address of principal executive offices)             (ZIP code)

Registrant's telephone number, including area code:  (802) 654-7200


                         Page 1 of 9
               Exhibit Index Appears on Page 4


<PAGE>


Item 5.  Other Event
Information  concerning  interest  and  principal   distributions  made  on  the
Certificates Certificates) of the BCMSC Trust Series 2000-Aon December15,2000 is
contained  in the  Distribution  Date  Statement  provided to each holder of the
Certificates.  Such  Distribution  Date Statement is attached  hereto as Exhibit
99.1 and is incorporated herein by reference.

Item 7.  Financial Statements and Exhibits

        (a)      Not applicable

        (b)      Not applicable

        (c)      Exhibits:

        99.1.  Distribution  Date  Statement  relating to interest and principal
        distributions made on December 15,2000 on the Series 2000-A Certificates

<PAGE>


                                    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, thereunto duly authorized on the date indicated.

                    BOMBARDIER CAPITAL MORTGAGE SECURITIZATION CORPORATION

                                    BY:    /s/ Blaine Filthaut
                                      Blaine Filthaut
                                    Title: Treasurer

Dated: December 28, 2000

I. INPUTS

A. ORIGINAL DEAL PARAMETERS

<TABLE>
<CAPTION>
<S>                                                                                             <C>
(A)   Initial Pool Principal Balance                                            $416,788,877.53
(B)   Initial Certificates Principal Balance                                    $401,190,000.00
(C)   Class A-1 Certificates
      (i) Initial Certificate Percentage                                                20.39%
      (ii)Initial Certificate Principal Balance                                 $85,000,000.00
      (iiiPass-Through Rate                                                           6.78000%
(D)   Class A-2 Certificates
      (i) Initial Certificate Percentage                                                18.23%
      (ii)Initial Certificate Principal Balance                                 $76,000,000.00
      (iiiPass-Through Rate                                                             7.575%
(E)   Class A-3 Certificates
      (i) Initial Certificate Percentage                                                12.00%
      (ii)Initial Certificate Principal Balance                                 $50,000,000.00
      (iiiPass-Through Rate                                                             7.830%
(F)   Class A-4 Certificates
      (i) Initial Certificate Percentage                                                17.88%
      (ii)Initial Certificate Principal Balance                                 $74,531,000.00
      (iiiPass-Through Rate                                                             8.290%
(G)   Class A-5 Certificates
      (i) Initial Certificate Percentage                                                 6.00%
      (ii)Initial Certificate Principal Balance                                 $25,000,000.00
      (iiiPass-Through Rate                                                             8.320%
(H)   Class M-1 Certificates
      (i) Initial Certificate Percentage                                                 7.00%
      (ii)Initial Certificate Principal Balance                                 $29,178,000.00
      (iiiPass-Through Rate                                                             8.514%
(I)   Class M-2 Certificates
      (i) Initial Certificate Percentage                                                 5.00%
      (ii)Initial Certificate Principal Balance                                 $20,841,000.00
      (iiiPass-Through Rate                                                             9.000%
(J)   Class B-1 Certificates
      (i) Initial Certificate Percentage                                                 4.50%
      (ii)Initial Certificate Principal Balance                                 $18,757,000.00
      (iiiPass-Through Rate                                                             9.000%
(K)   Class B-2 Certificates
      (i) Initial Certificate Percentage                                                 5.25%
      (ii)Initial Certificate Principal Balance                                 $21,883,000.00
      (iiiPass-Through Rate                                                             9.000%
(L)   Servicing Fee Rate                                                                 1.00%
(M)   Weighted Average Coupon (WAC)                                                     10.90%
(N)   Weighted Average Original Maturity (WAOM)                                         325.00  months
(O)   Weighted Average Remaining Maturity (WAM)                                         323.00  months
(P)   Number of Receivables                                                              9,828
(Q)   Credit Enhancement
      (i) Reserve Fund Initial Deposit Percentage                                        0.00%
      (ii)Target Overcollateralization Percentage Prior to Crossover Date                5.25%
      (iiiTarget Overcollateralization Percentage After Crossover Date                 9.1875%
      (iv)Target Overcollateralization Floor                                             1.25%
      (v) Reserve Fund Target %                                                          0.00%
      (vi)Target Credit Enhancement % Prior to Crossover Date                            5.25%
      (viiTarget Credit Enhancement % After Crossover Date                             9.1875%
      (viiTarget Credit Enhancement Floor                                                1.25%
      (ix)Target Credit Enhancement Amount                                      $21,881,416.07
(R)   Crossover Date Test
      (i) Earliest Crossover Date                                                     Feb-2005
      (ii)Percentage (as Percent of Initial Class Subordination Percentage)               186%
(S)   Class B-2 Floor Percentage (of Initial Pool Balance)                               0.75%

B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS

(A)   Pool Principal Balance                                                    $405,243,844.74
(B)   Total Certificate Principal Balance                                       $383,362,428.67
(C)   Class A-1 Certificates
      (i) Principal Balance                                                     $67,172,428.67
      (ii)Pool Factor                                                                0.7902639
      (iiiUnpaid Certificate Principal Shortfall                                         $0.00
      (iv)Unpaid Interest Shortfall                                                      $0.00
(D)   Class A-2 Certificates
      (i) Principal Balance                                                     $76,000,000.00
      (ii)Pool Factor                                                                1.0000000
      (iiiUnpaid Certificate Principal Shortfall                                         $0.00
      (iv)Unpaid Interest Shortfall                                                      $0.00
(E)   Class A-3 Certificates
      (i) Principal Balance                                                     $50,000,000.00
      (ii)Pool Factor                                                                1.0000000
      (iiiUnpaid Certificate Principal Shortfall                                         $0.00
      (iv)Unpaid Interest Shortfall                                                      $0.00
(F)   Class A-4 Certificates
      (i) Principal Balance                                                     $74,531,000.00
      (ii)Pool Factor                                                                1.0000000
      (iiiUnpaid Certificate Principal Shortfall                                         $0.00
      (iv)Unpaid Interest Shortfall                                                      $0.00
(G)   Class A-5 Certificates
      (i) Principal Balance                                                     $25,000,000.00
      (ii)Pool Factor                                                                1.0000000
      (iiiUnpaid Certificate Principal Shortfall                                         $0.00
      (iv)Unpaid Interest Shortfall                                                      $0.00
(H)   Class M-1 Certificates
      (i) Principal Balance                                                     $29,178,000.00
      (ii)Pool Factor                                                                1.1671200
      (iiiUnpaid Certificate Principal Shortfall                                         $0.00
      (iv)Unpaid Interest Shortfall                                                      $0.00
(I)   Class M-2 Certificates
      (i) Principal Balance                                                     $20,841,000.00
      (ii)Pool Factor                                                                1.0000000
      (iiiAdjusted Certificate Principal Balance                                $20,841,000.00
      (iv)Liquidation Loss Amount                                                        $0.00
      (v) Unpaid Certificate Principal Shortfall                                         $0.00
      (vi)Unpaid Interest Shortfall                                                      $0.00
      (viiUnpaid Liquidation Loss Interest Shortfall                                     $0.00
(J)   Class B-1 Certificates
      (i) Principal Balance                                                     $18,757,000.00
      (ii)Pool Factor                                                                1.0000000
      (iiiAdjusted Certificate Principal Balance                                $18,757,000.00
      (iv)Liquidation Loss Amount                                                        $0.00
      (v) Unpaid Certificate Principal Shortfall                                         $0.00
      (vi)Unpaid Interest Shortfall                                                      $0.00
      (viiUnpaid Liquidation Loss Interest Shortfall                                     $0.00
(K)   Class B-2 Certificates
      (i) Principal Balance                                                     $21,883,000.00
      (ii)Pool Factor                                                                1.0000000
      (iiiAdjusted Certificate Principal Balance                                $21,883,000.00
      (iv)Liquidation Loss Amount                                                        $0.00
      (v) Unpaid Certificate Principal Shortfall                                         $0.00
      (vi)Unpaid Interest Shortfall                                                      $0.00
      (viiUnpaid Liquidation Loss Interest Shortfall                                     $0.00
(L)   Reserve Fund Balance                                                               $0.00
(M)   Current Overcollateralization Amount                                      $21,881,416.07
(N)   Cumulative Realized Losses                                                 $1,218,026.82
(O)   Current Realized Loss Ratio for Preceding Period                                   0.82%
(P)   * Sixty Day Delinquency Ratio for Preceding Period                                13.71%
(Q)   * Sixty Day Delinquency Ratio for Second Preceding Period                         13.86%
(E)   * Thirty Day Delinquency Ratio for Preceding Period                               22.66%
(S)   * Thirty Day Delinquency Ratio for Second Preceding Period                        23.91%
(T)   Prior Month Weighted Average Coupon (WAC)                                         10.89%
(U)   Prior Month Weighted Average Remaining Maturity (WAM)                             314.13  months
V     Prior Month Number of Receivables                                                  9,618
W     Early Principal Collections                                                    11,535.07
X     Early Interest Collections                                                    122,387.30


C. INPUTS FROM THE MAINFRAME

(A)   Principal
      (i) Scheduled Principal Collections                                          $233,086.08
      (ii)Full and Partial Principal Prepayments                                   $739,731.38
      (iiiEarly Principal Collections                                               $13,892.64
      (iv)Repurchased Loan Proceeds Attributable to Principal                            $0.00
      (v) Other Principal Amounts                                                        $0.00
(B)   Interest
      (i) Scheduled Interest Collections                                         $2,988,792.45
      (ii)Early Interest Collections                                               $135,485.14
      (iiiRepurchased Loan Proceeds Attributable to Interest                             $0.00
(C)   Ending Pool Balance                                                       $403,486,846.08
(D)   Weighted Average Coupon (WAC)                                                     10.88%
(E)   Weighted Average Remaining Maturity (WAM)                                         313.19  months
(F)   Number of Receivables Outstanding                                                  9,579


</TABLE>

<TABLE>
<CAPTION>
<S>                                                       <C>                      <C>               <C>      <C>
                                                                                Percent of                    Percent of
                                                                                Percent of                    Percent of
(G)   Delinquent Receivables at End of Due Period : Principal Balance           Pool Balance         Units    Total Units
      (i) 30-59 Days Delinquent                     33,966,965                  8.42%                 816     8.52%
      (ii)60-89 Days Delinquent                     17,348,862                  4.30%                 418     4.36%
      (iii90 Days or More Delinquent                36,890,538                  9.14%                 912     9.52%
      (iv)Homes Repossessed or Foreclosed Upon       6,731,496                  1.67%                 159     1.66%

      * Bankrupcty included in above Delinquency:    2,172,402                                         51

      Number of Extensions and Rewrites granted during period:                                        137

* These numbers are already included in the Delinquency numbers and are
provided for reference purposes only.


</TABLE>

<TABLE>
<CAPTION>
<S>                                                                                                      <C>
D. INPUTS DERIVED FROM OTHER SOURCES

(A)   Reserve Fund Investment Income                                                     $0.00
(E)   Certificate Account Investment Income                                         $12,537.79
(F)   Liquidated Contracts
      (i) Liquidation Proceeds Attributable to Principal                           $441,122.72
      (ii)Liquidation Proceeds Attributable to Interest                             $49,558.75
      (iiiPrincipal Loss on Liquidation of Repossessions                           $281,380.10
      (iv)Net Liquidation Losses (Realized Losses)                                 $406,044.47
      (v) Recoveries on Previously Liquidated Contracts                                  $0.00
(G)   Repurchased Contracts
      (i) Number of Contracts                                                                0
      (ii)Repurchase Price of Contracts                                                  $0.00
(H)   Early Principal Payments Applied to Current Period                            $10,413.55
(I)   Early Interest Payments Applied to Current Period                            $104,599.67
(J)   Early Principal Payments Applied to Future Period                             $15,014.16
(K)   Early Interest Payments Applied to Future Period                             $153,272.77
(L)   Servicer Advances:  Principal                                                $621,814.71
(M)   Servicer Advances:   Interest                                              $6,082,001.51
(N)   Reimbursement of Prior Advances - Principal                                  $570,549.88
(O)   Reimbursement of Prior Advances - Interest                                 $5,345,220.06
(P)   Net Servicer Advance (Reimbursement) for the Month - Principal                $51,264.83
(Q)   Net Servicer Advance (Reimbursement) for the Month - Interest                $736,781.45
(R)   Net Servicer Advance (Reimbursement) for the Month - Total                   $788,046.28
(S)   Reimbursement of Liquidation Expenses on Previously Liquidated Contracts           $0.00
(T)   Reimbursements to Servicer for Liquidation Expense                           $124,664.37
(U)   Late Payment Fees, Extension Fees and Other Permitted Fees
(V)   Aggregate Repossession Profits                                                     $0.00
(W)   Other Permitted Withdrawals from Certificate Account                               $0.00
(X)   Current Realized Loss Ratio                                                        1.06%
(Y)   Current Distribution Date                                                     12/15/2000


</TABLE>

II. CLASS B PRINCIPAL DISTRIBUTION TESTS
<TABLE>
<CAPTION>
<S>                                                                       <C>             <C>          <C>
                                                                        Test Ratio    Actual Ratio    Result
(A)   Average Sixty-Day Delinquency Ratio (over three periods)            5.50%         14.23%          Fail
(B)   Average Thirty-Day Delinquency Ratio (over three periods)           8.50%         23.37%          Fail
(C)   Cumulative Realized Loss Ratio                                      7.00%          0.39%          Pass
(D)   Current Realized Loss Ratio                                         3.00%          1.06%          Pass


</TABLE>

III. COLLECTION CALCULATIONS
Interest:
<TABLE>
<CAPTION>
<S>                                                                                    <C>
(A)   Interest Collections                                                       $3,093,392.12
(B)   Servicer Advances - Net                                                      $736,781.45
(C)   Liquidation Proceeds Attributable to Interest                                 $49,558.75
(D)   Repurchased Loan Proceeds Attributable to Interest                                 $0.00
(E)   Recoveries on Previously Liquidated Contracts                                      $0.00
                                                                                ---------------
(G)   Total Interest Collections (A+B+C+D+E+F)                                   $3,879,732.32

Principal:
(H)   Principal Payments Received (scheduled and unscheduled)                      $983,231.01
(I)   Servicer Advances - Net of Liquidation Losses                                 $51,264.83
(J)   Liquidation Proceeds Related to Principal                                    $441,122.72
(K)   Repurchased Loan Proceeds Related to Principal                                     $0.00
(L)   Other Principal Amounts                                                            $0.00
                                                                                ---------------
(M)   Total Principal Collections (H+I+J+K)                                      $1,475,618.56


IV. DISTRIBUTION CALCULATIONS

(A)   Total Cash Collections                                                     $5,355,350.88
(B)   Monthly Servicing Fee                                                        $337,703.20
(C)   Aggregate Repossession Profits                                                     $0.00
(E)   Reimbursements to Servicer for Liquidation Expense                           $124,664.37
(F)   Late Payment Fees, Extension Fees and Other Permitted Fees
(G)   Other Permitted Withdrawals from Certificate Account                               $0.00
(H)   Reserve Fund Draw                                                                  $0.00
                                                                                ---------------
(I)   Available Distribution Amount (A-B-C-D-E-F-G+H)                            $4,892,983.31

(J)   Total Principal Collections and Advances                                   $1,475,618.56
(K)   Principal Loss on Liquidation of Repossessions                               $281,380.10
(L)   Overcollaterallization Addition Amount                                             $0.00
(M)   Overcollaterallization Reduction Amount                                            $0.00
                                                                                ---------------
(N)   Formula Principal Distribution Amount                                      $1,756,998.66

(M)   Interest Accrual Period                                                               30  days
(N)   Total Class A Certificates Monthly Interest Due                            $1,873,742.54
(O)   Total Class A Certificates Monthly Interest Paid                           $1,873,742.54
(P)   Total Monthly Interest Due                                                 $2,541,867.95
(Q)   Total Monthly Interest Paid                                                $2,541,867.95
(R)   Excess Interest or (Interest Shortfall)                                    $1,337,864.37

(S)   Class A/M Percentage                                                           82.87782%
(T)   Class B Percentage                                                             17.12218%
(U)   Has the Cross-Over Date Occurred?                                                     No
(V)   Have the Principal Distribution Tests Been Satisfied?                                 No
(W)   Has a Dificiency Event Occurred?                                                      No
(X)   Should Principal Be Distributed to the Subordinated Certificates?                     No
(Y)   Class B-2 Floor Amount (prior to giving effect to distributions of
principa                                                                         $3,125,916.58
(Z)   Class A/M Certificates Formula Principal Distribution Amount               $1,756,998.66
(AA)  Class A Certificates Formula Principal Distribution Amount                 $1,756,998.66
(BB)  Class M Certificates Formula Principal Distribution Amount                         $0.00

(CC)  Total Class A Unpaid Certificate Principal Shortfall Due                           $0.00
(DD)  Total Class A Unpaid Certificate Principal Shortfall Paid                          $0.00
(EE)  Total Unpaid Certificate Principal Shortfall Due                                   $0.00
(FF)  Total Unpaid Certificate Principal Shortfall Paid                                  $0.00
(GG)  Total Class A Certificates Monthly Principal Due                           $1,756,998.66
(HH)  Total Class A Certificates Monthly Principal Paid                          $1,756,998.66
(II)  Total Monthly Principal Due                                                $1,756,998.66
(JJ)  Total Monthly Principal Paid                                               $1,756,998.66


V. DISTRIBUTIONS

(A)   Class A-1 Certifcates Monthly Interest & Interest Shortfal
# Days in Interest Period                                                                30
      (i) Interest Due                                                             $379,524.22
      (ii)Interest Paid                                                            $379,524.22
      (iiiInterest Shortfall                                                             $0.00
(B)   Class A-2 Certifcates Monthly Interest & Interest Shortfall
      (i) Interest Due                                                             $479,750.00
      (ii)Interest Paid                                                            $479,750.00
      (iiiInterest Shortfall                                                             $0.00
(C)   Class A-3 Certifcates Monthly Interest & Interest Shortfall
      (i) Interest Due                                                             $326,250.00
      (ii)Interest Paid                                                            $326,250.00
      (iiiInterest Shortfall                                                             $0.00
(D)   Class A-4 Certifcates Monthly Interest & Interest Shortfall
      (i) Interest Due                                                             $514,884.99
      (ii)Interest Paid                                                            $514,884.99
      (iiiInterest Shortfall                                                             $0.00
(E)   Class A-5 Certifcates Monthly Interest & Interest Shortfall
      (i) Interest Due                                                             $173,333.33
      (ii)Interest Paid                                                            $173,333.33
      (iiiInterest Shortfall                                                             $0.00
(F)   Class M-1 Certifcates Monthly Interest & Interest Shortfall
      (i) Interest Due                                                             $207,017.91
      (ii)Interest Paid                                                            $207,017.91
      (iiiInterest Shortfall                                                             $0.00
(G)   Class M-2 Certifcates Monthly Interest & Interest Shortfall
      (i) Interest Due                                                             $156,307.50
      (ii)Interest Paid (after reserve account draw, if any)                        156,307.50
                                                                                ---------------
      (iiiInterest Shortfall                                                             $0.00
(H)   Class B-1 Certifcates Monthly Interest & Interest Shortfall
      (i) Interest Due                                                             $140,677.50
      (ii)Interest Paid (after reserve account draw, if any)                        140,677.50
                                                                                ---------------
      (iiiInterest Shortfall                                                             $0.00
(I)   Class B-2 Certifcates Monthly Interest & Interest Shortfall
      (i) Interest Due                                                             $164,122.50
      (ii)Interest Paid (after reserve account draw, if any)                        164,122.50
                                                                                ---------------
      (iiiInterest Shortfall                                                             $0.00
(J)   Class A-1 Unpaid Certficate Principal Shortfall
      (i) Shortfall Due                                                                  $0.00
      (ii)Shortfall Paid                                                                 $0.00
                                                                                ---------------
      (iiiShortfall Outstanding                                                          $0.00
(K)   Class A-2 Unpaid Certficate Principal Shortfall
      (i) Shortfall Due                                                                  $0.00
      (ii)Shortfall Paid                                                                 $0.00
                                                                                ---------------
      (iiiShortfall Outstanding                                                          $0.00
(L)   Class A-3 Unpaid Certficate Principal Shortfall
      (i) Shortfall Due                                                                  $0.00
      (ii)Shortfall Paid                                                                 $0.00
                                                                                ---------------
      (iiiShortfall Outstanding                                                          $0.00
(M)   Class A-4 Unpaid Certficate Principal Shortfall
      (i) Shortfall Due                                                                  $0.00
      (ii)Shortfall Paid                                                                 $0.00
                                                                                ---------------
      (iiiShortfall Outstanding                                                          $0.00
(N)   Class A-5 Unpaid Certficate Principal Shortfall
      (i) Shortfall Due                                                                  $0.00
      (ii)Shortfall Paid                                                                 $0.00
                                                                                ---------------
      (iiiShortfall Outstanding                                                          $0.00
(O)   Class A-1 Certificates Monthly Principal
      (i) Formula Principal Distribution Amount                                  $1,756,998.66
      (iiiCertificate Principal Paid                                             $1,756,998.66
                                                                                ---------------
      (iv)Certificate Principal Shortfall                                                $0.00
(P)   Class A-2 Certificates Monthly Principal
      (i) Formula Principal Distribution Amount                                          $0.00
      (iiiCertificate Principal Paid                                                     $0.00
                                                                                ---------------
      (iv)Certificate Principal Shortfall                                                $0.00
(Q)   Class A-3 Certificates Monthly Principal
      (i) Formula Principal Distribution Amount                                          $0.00
      (iiiCertificate Principal Paid                                                     $0.00
                                                                                ---------------
      (iv)Certificate Principal Shortfall                                                $0.00
(R)   Class A-4 Certificates Monthly Principal
      (i) Formula Principal Distribution Amount                                          $0.00
      (iiiCertificate Principal Paid                                                     $0.00
                                                                                ---------------
      (iv)Certificate Principal Shortfall                                                $0.00
(S)   Class A-5 Certificates Monthly Principal
      (i) Formula Principal Distribution Amount                                          $0.00
      (iiiCertificate Principal Paid                                                     $0.00
                                                                                ---------------
      (iv)Certificate Principal Shortfall                                                $0.00
(T)   Class M-1 Certificates Monthly Principal
      (i) Formula Principal Distribution Amount                                          $0.00
      (iiiCertificate Principal Paid                                                     $0.00
                                                                                ---------------
      (iv)Certificate Principal Shortfall                                                $0.00
(U)   Class M Unpaid Certficate Principal Shortfall
      (i) Shortfall Due                                                                  $0.00
      (ii)Shortfall Paid                                                                 $0.00
                                                                                ---------------
      (iiiShortfall Outstanding                                                          $0.00
(V)   Class M-2 Certificates Monthly Principal
      (i) Formula Principal Distribution Amount                                          $0.00
      (ii)Certificate Principal Paid                                                     $0.00
                                                                                ---------------
      (iiiCertificate Principal Shortfall                                                $0.00
(W)   Class M Liquidation Loss Interest Amount & Unpaid Liquidation Loss
Interest Shortfall
      (i) Interest Due                                                                   $0.00
      (ii)Interest Paid (after reserve account draw, if any)                              0.00
                                                                                ---------------
      (iiiInterest Shortfall                                                             $0.00
(X)   Class B-1 Unpaid Certficate Principal Shortfall
      (i) Shortfall Due                                                                  $0.00
      (ii)Shortfall Paid                                                                 $0.00
                                                                                ---------------
      (iiiShortfall Outstanding                                                          $0.00
(Y)   Class B-1 Certificates Monthly Principal
      (i) Formula Principal Distribution Amount                                          $0.00
      (ii)Certificate Principal Paid                                                     $0.00
                                                                                ---------------
      (iiiCertificate Principal Shortfall                                                $0.00
(Z)   Class B-1 Liquidation Loss Interest Amount & Unpaid Liquidation Loss
Interest Shortfall
      (i) Interest Due                                                                   $0.00
      (ii)Interest Paid (after reserve account draw, if any)                              0.00
                                                                                ---------------
      (iiiInterest Shortfall                                                             $0.00
(AA)  Class B-2 Unpaid Certficate Principal Shortfall
      (i) Shortfall Due                                                                  $0.00
      (ii)Shortfall Paid                                                                 $0.00
                                                                                ---------------
      (iiiShortfall Outstanding                                                          $0.00
(BB)  Class B-2 Certificates Monthly Principal
      (i) Formula Principal Distribution Amount                                          $0.00
      (ii)Certificate Principal Paid                                                     $0.00
                                                                                ---------------
      (iiiCertificate Principal Shortfall                                                $0.00
(CC)) Class B-2 Liquidation Loss Interest Amount & Unpaid Liquidation Loss
Interest Shortfall
      (i) Interest Due                                                                   $0.00
      (ii)Interest Paid (after reserve account draw, if any)                              0.00
                                                                                ---------------
      (iiiInterest Shortfall                                                             $0.00
(DD)  Class X Strip Amount                                                         $932,144.27
(EE)  Accelerated Principal Distribution - A1                                            $0.00
(FF)  Accelerated Principal Distribution - A2                                            $0.00
(GG)  Accelerated Principal Distribution - A3                                            $0.00
(HH)  Accelerated Principal Distribution - A4                                            $0.00
(II)  Accelerated Principal Distribution - A5                                            $0.00
(JJ)  Reserve Fund Deposit Amount                                                        $0.00
(KK)  Release to Class X Certificates                                              $594,116.70


VI. RECONCILIATION OF RESERVE FUND
(A)   Beginning Cash Reserve Fund Balance                                                $0.00
(B)   Reserve Fund Draw for Distributions                                                $0.00
(C)   Excess Interest Deposit to Reserve Fund                                            $0.00
(D)   Reserve Fund Balance Prior to Release                                              $0.00
(E)   Specified Reserve Fund Balance                                                     $0.00
(F)   Reserve Fund Release                                                               $0.00
(G)   Ending Reserve Fund Balance                                                        $0.00



</TABLE>

<TABLE>
<CAPTION>
<S>                                                                                   <C>             <C>
X. MONTHLY REPORT                                                                                    Per $1,000
                                                                                                     Denomination
                                                                                                     -------------
(A)   Total Distribution Amount
      (i) Class A-1 Certificates                                                 $2,136,522.88        $25.14
      (ii)Class A-2 Certificates                                                   $479,750.00         $6.31
      (iiiClass A-3 Certificates                                                   $326,250.00         $6.53
      (iv)Class A-4 Certificates                                                   $514,884.99         $6.91
      (v) Class A-5 Certificates                                                   $173,333.33         $6.93
      (vi)Class M-1 Certificates                                                   $207,017.91         $9.93
      (viiClass M-2 Certificates                                                   $156,307.50         $7.50
      (viiClass B-1 Certificates                                                   $140,677.50         $7.50
      (ix)Class B-2 Certificates                                                   $164,122.50         $7.50
      (x) Class X Certificates                                                     $594,116.70

(B)   Formula Principal Distribution Amount Paid
      (i) Class A-1 Certificates                                                 $1,756,998.66        $20.67
      (ii)Class A-2 Certificates                                                         $0.00         $0.00
      (iiiClass A-3 Certificates                                                         $0.00         $0.00
      (iv)Class A-4 Certificates                                                         $0.00         $0.00
      (v) Class A-4 Certificates                                                         $0.00
      (vi)Class M-1 Certificates                                                         $0.00         $0.00
      (viiClass M-2 Certificates                                                         $0.00         $0.00
      (viiClass B-1 Certificates                                                         $0.00         $0.00
      (ix)Class B-2 Certificates                                                         $0.00         $0.00

(C)   Unpaid Certificate Principal Shortfall Paid
      (i) Class A-1 Certificates                                                         $0.00         $0.00
      (ii)Class A-2 Certificates                                                         $0.00         $0.00
      (iiiClass A-3 Certificates                                                         $0.00         $0.00
      (iv)Class A-4 Certificates                                                         $0.00         $0.00
      (v) Class A-5 Certificates                                                         $0.00
      (vi)Class M-1 Certificates                                                         $0.00         $0.00
      (viiClass M-2 Certificates                                                         $0.00         $0.00
      (viiClass B-1 Certificates                                                         $0.00         $0.00
      (ix)Class B-2 Certificates                                                         $0.00         $0.00

(D)   Unpaid Certificate Principal Shortfall Remaining (after giving effect to
distributions)
      (i) Class A-1 Certificates                                                         $0.00         $0.00
      (ii)Class A-2 Certificates                                                         $0.00         $0.00
      (iiiClass A-3 Certificates                                                         $0.00         $0.00
      (iv)Class A-4 Certificates                                                         $0.00         $0.00
      (v) Class A-5 Certificates                                                         $0.00
      (vi)Class M-1 Certificates                                                         $0.00         $0.00
      (viiClass M-2 Certificates                                                         $0.00         $0.00
      (viiClass B-1 Certificates                                                         $0.00         $0.00
      (ix)Class B-2 Certificates                                                         $0.00         $0.00

(E)   Liquidation Write-Downs (after giving effect to distributions)
      (i) Class M Certificates                                                           $0.00         $0.00
      (ii)Class B-1 Certificates                                                         $0.00         $0.00
      (iiiClass B-2 Certificates                                                         $0.00         $0.00

(F)   Monthly Interest & Interest Shortfall Paid
      (i) Class A-1 Certificates                                                   $379,524.22         $4.46
      (ii)Class A-2 Certificates                                                   $479,750.00         $6.31
      (iiiClass A-3 Certificates                                                   $326,250.00         $6.53
      (iv)Class A-4 Certificates                                                   $514,884.99         $6.91
      (v) Class A-5 Certificates                                                   $207,017.91
      (vi)Class M-1 Certificates                                                   $207,017.91         $8.28
      (viiClass M-2 Certificates                                                   $156,307.50         $7.50
      (viiClass B-1 Certificates                                                   $140,677.50         $7.50
      (ix)Class B-2 Certificates                                                   $164,122.50         $7.50

                                                                                                Per $1,000
                                                                                                Denomination
                                                                                                -------------
(G)   Liquidation Loss Interest & Interest Shortfall Paid
      (i) Class M Certificates                                                           $0.00         $0.00
      (ii)Class B-1 Certificates                                                         $0.00         $0.00
      (iiiClass B-2 Certificates                                                         $0.00         $0.00

(H)   Liquidation Loss Interest Shortfall Remaining(after giving effect to
distributions)
      (i) Class M Certificates                                                           $0.00         $0.00
      (ii)Class B-1 Certificates                                                         $0.00         $0.00
      (iiiClass B-2 Certificates                                                         $0.00         $0.00

(I)   Certificate Principal Balances (after giving effect to distributions)
      (i) Class A-1 Certificates                                                $65,415,430.01       $769.59
      (ii)Class A-2 Certificates                                                $76,000,000.00     $1,000.00
      (iiiClass A-3 Certificates                                                $50,000,000.00     $1,000.00
      (iv)Class A-4 Certificates                                                $74,531,000.00     $1,000.00
      (v) Class A-5 Certificates                                                $25,000,000.00     $1,000.00
      (vi)Class M-1 Certificates                                                $29,178,000.00     $1,000.00
      (viiClass M-2 Certificates                                                $20,841,000.00     $1,000.00
      (viiClass B-1 Certificates                                                $18,757,000.00     $1,000.00
      (ix)Class B-2 Certificates                                                $21,883,000.00     $1,000.00

(J)   Adjusted Certificate Principal Balances(aftergivingeffect todistributions)
      (i) Class M Certificates                                                  $50,019,000.00     $1,000.00
      (ii)Class B-1 Certificates                                                $18,757,000.00     $1,000.00
      (iiiClass B-2 Certificates                                                $21,883,000.00     $1,000.00

(K)   Pass-Through Rates
      (i) Class A-1 Certificates                                                         6.78%
      (ii)Class A-2 Certificates                                                         7.58%
      (iiiClass A-3 Certificates                                                         7.83%
      (iv)Class A-4 Certificates                                                         8.29%
      (v) Class A-5 Certificates                                                         8.32%
      (vi)Class M-1 Certificates                                                         8.51%
      (viiClass M-2 Certificates                                                         9.00%
      (viiClass B-1 Certificates                                                         9.00%
      (ix)Class B-2 Certificates                                                         9.00%

</TABLE>

<TABLE>
<CAPTION>
<S>                                                           <C>                              <C>
                                                         Beginning of Period              End of Period
                                                         ------------------              ------------------
(L)   Certificate Balances and Factors
      (i) Aggregate Balance of Certificates             $383,362,428.67                   $381,605,430.01
      (ii)Total Certificate Pool Factor                 0.9555633                         0.9511838
      (iiiClass A-1 Certificates Balance                $67,172,428.67                    $65,415,430.01
      (iv)Class A-1 Certificates Pool Factor            0.7902639                         0.7695933
      (v) Class A-2 Certificates Balance                $76,000,000.00                    $76,000,000.00
      (vi)Class A-2 Certificates Pool Factor            1.0000000                         1.0000000
      (viiClass A-3 Certificates Balance                $50,000,000.00                    $50,000,000.00
      (viiClass A-3 Certificates Pool Factor            1.0000000                         1.0000000
      (ix)Class A-4 Certificates Balance                $74,531,000.00                    $74,531,000.00
      (x) Class A-4 Certificates Pool Factor            1.0000000                         1.0000000
      (xi)Class A-5 Certificates Balance                $25,000,000.00                    $25,000,000.00
      (xiiClass A-5 Certificates Pool Factor            1.0000000                         1.0000000
      (xiiClass M-1 Certificates Balance                $29,178,000.00                    $29,178,000.00
      (xivClass M-1 Certificates Pool Factor            1.1671200                         1.1671200
      (xv)Class M-1 Certificates Balance                $20,841,000.00                    $20,841,000.00
      (xviClass M-1 Certificates Pool Factor            1.0000000                         1.0000000
      (xviClass B-1 Certificates Balance                $18,757,000.00                    $18,757,000.00
      (xviClass B-1 Certificates Pool Factor            1.0000000                         1.0000000
      (xixClass B-2 Certificates Balance                $21,883,000.00                    $21,883,000.00
      (xx)Class B-2 Certificates Pool Factor            1.0000000                         1.0000000

(M)   Portfolio Information
      (i) Pool Principal Balance                        $405,243,844.74                   $403,486,846.08
      (ii)Pool Factor                                   0.9723000                        0.96808449
      (iiiWeighted Average Coupon (WAC)                 10.89%                            10.88%
      (iv)Weighted Average Remaining Maturity (WAM)     314.13    months                  313.19  months
      (v) Remaining Number of Receivables                9,618                             9,579

(N)   Credit Enhancement
      (i) O/C Beginning Balance                                                           $21,881,416.07
      (ii)O/C Additions                                                                   $0.00
      (iiiO/C Reductions                                                                  $0.00
      (iv)O/C Ending Balance                                                              $21,881,416.07

(O)   Reserve Fund
      (i)  Beginning Balance                                                              $0.00
      (ii) Additions
      (iii)Reductions
      (iv) Ending Balance                                                                 $0.00



(P)   Fee Payments
      (i) Monthly Servicing Fee                                                           $337,703.20
      (ii)Reimbursements to Depositor (PSA 8.06)                                          $124,664.37
      (iiiLate Payment Fees, Extension Fees and other Permitted Fees (PSA 5.13)

(Q)   Repurchased Contracts
      (i) Number of Contracts                                                                0
      (ii)Repurchase Price of Contracts                                                   $0.00



</TABLE>

<TABLE>
<CAPTION>
<S>                                             <C>                       <C>             <C>         <C>
                                                                   Percent of          Number    Percent of
(R)   * Delinquent Contracts                  Principal Balance    Pool Balance       of Units   Total Units
      (i) 30-59 Days Delinquent               $33,966,964.98              8.42%            816         8.52%
      (ii)60-89 Days Delinquent               $17,348,862.01              4.30%            418         4.36%
      (iii90 Days or More Delinquent          $36,890,538.28              9.14%            912         9.52%
      (iv)Homes Repossessed or Foreclosed Upon $6,731,496.23              1.67%            159         1.66%

      * Delinquency figures have been revised for the Collection Periods of July
        2000 to October 2000 per the following Revised Delinquency Schedule.

      Revised Delinquency Schedule
      July 2000                                                      Percent of         Number    Percent of
      * Delinquent Contracts                  Principal Balance    Pool Balance       of Units   Total Units
      (i) 30-59 Days Delinquent               $39,374,371.00              9.62%            956         9.86%
      (ii)60-89 Days Delinquent               $16,604,467.00              4.06%            400         4.12%
      (iii90 Days or More Delinquent          $20,897,198.00              5.10%            497         5.12%
      (iv)Homes Repossessed or Foreclosed Upon $2,051,336.00              0.50%             49         0.51%

      August 2000                                                    Percent of         Number    Percent of
      * Delinquent Contracts                  Principal Balance    Pool Balance       of Units   Total Units
      (i) 30-59 Days Delinquent               $38,361,528.00              9.40%            919         9.50%
      (ii)60-89 Days Delinquent               $17,663,344.00              4.33%            443         4.58%
      (iii90 Days or More Delinquent          $25,152,875.00              6.16%            604         6.24%
      (iv)Homes Repossessed or Foreclosed Upon$20,934,175.00              5.13%            507         0.80%


      September 2000                                                 Percent of         Number    Percent of
      * Delinquent Contracts                  Principal Balance    Pool Balance       of Units   Total Units
      (i) 30-59 Days Delinquent               $40,892,094.00             10.05%            969        10.04%
      (ii)60-89 Days Delinquent               $20,526,749.00              5.05%            506         5.25%
      (iii90 Days or More Delinquent          $30,773,321.00              7.57%            751         7.78%
      (iv)Homes Repossessed or Foreclosed Upon $5,043,519.00              1.24%            122         1.26%


      October 2000                                                   Percent of         Number    Percent of
      * Delinquent Contracts                  Principal Balance    Pool Balance       of Units   Total Units
      (i) 30-59 Days Delinquent               $36,282,747.00              8.95%            865         8.99%
      (ii)60-89 Days Delinquent               $16,927,224.00              4.18%            419         4.36%
      (iii90 Days or More Delinquent          $32,781,881.00              8.09%            804         8.36%
      (iv)Homes Repossessed or Foreclosed Upon $5,818,733.00              1.44%            139         1.45%

</TABLE>



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