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
June 15, 1999
(Date of earliest event reported)
DEUTSCHE RECREATIONAL ASSET FUNDING CORPORATION
(Exact name of registrant as specified in its charter)
Nevada 333-56303 91-1904587
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) identification No.)
655 Maryville Centre Drive
St. Louis, Missouri 63141
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (314) 523-3000
Item 5. Other Events.
In connection with the offering of the Distribution Financial Services RV Trust
1999-1 Asset Backed Notes (the "RV Notes"), Deutsche Bank Securities Inc.,as the
lead underwriter of the RV Notes, has distributed certain "RV Computational
Materials" to potential investors, which materials are attached hereto as
Exhibit 1.
In connection with the offering of the Distribution Financial Services Marine
Trust 1999-2 Asset Backed Notes (the "Marine Notes"), Deutsche Bank Securities
Inc., as the lead underwriter of the Marine Notes, has distributed certain
"Marine Computational Materials" to potential investors, which materials are
attached hereto as Exhibit 2.
Item 7.(c). Exhibits.
Exhibit
Number Document Description
EX-1 RV Computational Materials
EX-2 Marine Computational Materials
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DEUTSCHE RECREATIONAL ASSET FUNDING CORPORATION
(Registrant)
Date: June 20, 1999
By: /s/ Richard C. Goldman
Name: Richard C. Goldman
Title: Vice President
Exhibit 1
Distribution Financial Services RV Trust 1999-1
July 15, 1999 Payment Date Statement to Noteholders
Per Section 5.08 of the Transfer and Servicing Agreement
<TABLE>
<S> <C>
Beginning Pool Balance $934,212,535.86
Beginning Pool Factor 0.93420936
Distribution Allocable to Principal on Notes
<CAPTION>
Prior Current
Class Principal Payments $1000 of orig.prin.bal. Principal Payments $1000 of orig.prin.bal.
<S> <C> <C> <C> <C>
A-1 $20,145,704.05 178.6869611 $23,151,919.48 205.3512811
A-2 $0.00 0.0000000 $0.00 0.0000000
A-3 $0.00 0.0000000 $0.00 0.0000000
A-4 $0.00 0.0000000 $0.00 0.0000000
A-5 $0.00 0.0000000 $0.00 0.0000000
A-6 $0.00 0.0000000 $0.00 0.0000000
B $0.00 0.0000000 $0.00 0.0000000
C $0.00 0.0000000 $0.00 0.0000000
Distribution Allocable to Interest on Notes
<CAPTION>
Prior Current
Class Rate Interest Payment $1000 of orig.prin.bal. Interest Payments $1000 of orig.prin.bal.
<S> <C> <C> <C> <C> <C>
A-1 4.97% $268,633.65 2.3827080 $194,460.08 1.7248085
A-2 5.38% $1,020,088.35 4.4833333 $1,020,088.35 4.4833333
A-3 5.70% $940,490.50 4.7500000 $940,490.50 4.7500000
A-4 5.84% $937,524.40 4.8666667 $937,524.40 4.8666667
A-5 5.97% $794,616.95 4.9750000 $794,616.95 4.9750000
A-6 6.02% $322,902.77 5.0166667 $322,902.77 5.0166667
B 6.36% $132,500.00 5.3000000 $132,500.00 5.3000000
C 7.23% $120,500.00 6.0250000 $120,500.00 6.0250000
Note Balance After Giving Effect to Principal Distribution
<CAPTION>
Class Beginning Balance Pool Factor Ending Balance Pool Factor
<S> <C> <C> <C> <C>
A-1 46,952,132.90 0.4164528 $23,800,213.42 0.2111015
A-2 227,529,000.00 1.0000000 $227,529,000.00 1.0000000
A-3 197,998,000.00 1.0000000 $197,998,000.00 1.0000000
A-4 192,642,000.00 1.0000000 $192,642,000.00 1.0000000
A-5 159,722,000.00 1.0000000 $159,722,000.00 1.0000000
A-6 64,366,000.00 1.0000000 $64,366,000.00 1.0000000
B 25,000,000.00 1.0000000 $25,000,000.00 1.0000000
C 20,000,000.00 1.0000000 $20,000,000.00 1.0000000
<S> <C>
Servicing Fee $389,255.22
Servicing Fee Per $1,000 of Orig.Note 0.3892552
Realized Losses $482,381.84
Reserve Account Balance $13,163,624.37
Payments Received with Respect to Receivables During Most Recently Ended Collection Period $29,704,997.47
Interest Payments Received $7,035,459.83
Scheduled Principal Payments Received $5,085,752.33
Principal Prepayments Received $17,583,785.31
Distribution to Residual Interestholders $0.00
Noteholders' Interest Carryover Shortfall $0.00
Noteholders' Interest Carryover Shortfall Per $1,000 Note 0.0000000
Aggregate Purchase Amounts for Receivables that were purchased in related Collection Period $0.00
Ending Pool Balance $911,060,616.38
Ending Pool Factor 0.91105752
</TABLE>
Exhibit 2
Distribution Financial Services Marine Trust 1999-2
July 15, 1999 Payment Date Statement to Noteholders
Per Section 5.08 of the Transfer and Servicing Agreement
<TABLE>
<S> <C>
Beginning Pool Balance $538,107,028.33
Beginning Pool Factor 978.37622120
Distribution Allocable to Principal on Notes
<CAPTION>
Prior Current
Class Principal Payments $1000 of orig.prin.bal. Principal Payments $1000 of orig.prin.bal.
<S> <C> <C> <C> <C>
A-1 $11,893,080.70 56.3391440 $9,920,640.71 46.9954270
A-2 $0.00 0.0000000 $0.00 0.0000000
A-3 $0.00 0.0000000 $0.00 0.0000000
A-4 $0.00 0.0000000 $0.00 0.0000000
A-5 $0.00 0.0000000 $0.00 0.0000000
B $0.00 0.0000000 $0.00 0.0000000
C $0.00 0.0000000 $0.00 0.0000000
Distribution Allocable to Interest on Notes
<CAPTION>
Prior Current
Class Rate Interest Payment $1000 of orig.prin.bal. Interest Payments $1000 of orig.prin.bal.
<S> <C> <C> <C> <C>
A-1 5.50% $580,519.50 2.7500000 $913,022.55 4.3251120
A-2 5.98% $166,145.33 2.9900000 $276,908.88 4.9833330
A-3 6.20% $335,199.90 3.1000000 $558,666.50 5.1666670
A-4 6.48% $214,510.68 3.2400000 $357,517.80 5.4000000
A-5 6.6656% $179,967.87 3.3328000 $299,946.45 5.5546670
B 6.93% $114,345.00 3.4650000 $190,575.00 5.7750000
C 7.61% $83,710.00 3.8050000 $139,516.67 6.3416670
Note Balance After Giving Effect to Principal Distribution
<CAPTION>
Class Beginning Balance Pool Factor Ending Balance Pool Factor
<S> <C> <C> <C> <C>
A-1 199,204,919.30 0.9436609 $189,284,278.59 0.8966654
A-2 55,567,000.00 1.0000000 $55,567,000.00 1.0000000
A-3 108,129,000.00 1.0000000 $108,129,000.00 1.0000000
A-4 66,207,000.00 1.0000000 $66,207,000.00 1.0000000
A-5 53,999,000.00 1.0000000 $53,999,000.00 1.0000000
B 33,000,000.00 1.0000000 $33,000,000.00 1.0000000
C 22,000,000.00 1.0000000 $22,000,000.00 1.0000000
<S> <C>
Servicing Fee $224,211.26
Servicing Fee Per $1,000 of Orig.Note 0.4076568
Realized Losses $0.00
Reserve Account Balance $17,806,745.51
Payments Received with Respect to Receivables During Most Recently Ended
Collection Period $13,718,281.56
Interest Payments Received $3,797,640.85
Scheduled Principal Payments Received $2,229,403.52
Principal Prepayments Received $7,691,237.19
Distribution to Residual Interestholders $0.00
Noteholders' Interest Carryover Shortfall $0.00
Noteholders' Interest Carryover Shortfall Per $1,000 Note 0.0000000
Aggregate Purchase Amounts for Receivables that were purchased in related
Collection Period $0.00
Ending Pool Balance $528,186,387.62
Ending Pool Factor 0.96033870
</TABLE>
