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Previous: DVI RECEIVABLES CORP VIII, 8-K, 2000-10-18 |
Next: DVI RECEIVABLES CORP VIII, 8-K, EX-99.2, 2000-10-18 |
<PAGE> 1
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 13, 2000
<TABLE>
I. RECONCILIATION OF COLLECTION ACCOUNT:
<S> <C>
End of Period Collection Account Balance as of Prior Payment Date: 721,898.80
Available Funds:
Contract Payments due and received in this period 4,100,639.57
Contract Payments due in prior period(s) and received in this period 485,426.43
Contract Payments received in this period for next period 485,899.55
Sales, Use and Property Tax payments received 51,494.21
Prepayment Amounts related to early termination in this period 2,811,698.55
Servicer Advance 661,928.30
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 13,161.53
Interest earned on Collection Account 25,089.49
Interest earned on Affiliated Account 1,172.78
Proceeds from repurchase of Contracts per Contribution and Servicing
Agreement Section 5.03 0.00
Amounts paid per Contribution and Servicing Agreement Section 7.01
(Substituted contract < Predecessor contract) 0.00
Amounts paid under insurance policies 0.00
Maintenance, Late Charges and any other amounts 29,977.00
--------------
Total Available Funds 9,388,386.21
Less: Amounts to be Retained in Collection Account 852,298.08
--------------
AMOUNT TO BE DISTRIBUTED 8,536,088.13
==============
DISTRIBUTION OF FUNDS:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer
Advances 485,426.43
3. To Noteholders (For Servicer Report immediately following the
Final Additional Closing Date)
a) Class A1 Principal and Interest 0.00
a) Class A2 Principal (distributed after A1 Note matures)
and Interest 6,087,077.65
a) Class A3 Principal (distributed after A2 Note matures)
and Interest 325,520.00
a) Class A4 Principal (distributed after A3 Note matures)
and Interest 219,862.50
a) Class A5 Principal (distributed after A4 Note matures)
and Interest 234,054.83
b) Class B Principal and Interest 117,411.84
c) Class C Principal and Interest 236,218.62
d) Class D Principal and Interest 159,233.47
e) Class E Principal and Interest 208,496.47
4. To Reserve Account for Requirement per Indenture Agreement Section 3.08 0.00
5. To Issuer - Residual Principal and Interest and Reserve Account
Distribution
a) Residual Interest (Provided no Restricting or
Amortization Event in effect) 66,316.62
b) Residual Principal (Provided no Restricting or
Amortization Event in effect) 204,940.70
c) Reserve Account Distribution (Provided no Restricting
or Amortization Event in effect) 13,161.53
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest
Earned and Any Other Amounts 107,733.48
7. To Servicer, Servicing Fee and other Servicing Compensations 70,633.99
--------------
TOTAL FUNDS DISTRIBUTED 8,536,088.13
==============
--------------
End of Period Collection Account Balance {Includes Payments in Advance & Restricting
Event Funds (if any)} 852,298.08
==============
II. RESERVE ACCOUNT
Beginning Balance $2,511,821.93
- Add Investment Earnings 13,161.53
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 13,161.53
--------------
End of period balance $2,511,821.93
==============
Reserve Account Requirement (Lesser of: (i) Initial Reserve Account Required Amount, or
(ii) Sum of Class A, Class B, Class C, Class D, and Class E Note Balances. $2,511,821.93
==============
</TABLE>
<PAGE> 2
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 13, 2000
<TABLE>
<S> <C> <C>
III. CLASS A NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class A Notes
Pool A 135,872,334.59
Pool B 29,868,055.63
--------------
165,740,390.22
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 717,787.10
Class A Monthly Interest - Pool B 157,787.14
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 5,220,261.86
Class A Monthly Principal - Pool B 770,678.88
--------------
5,990,940.74
Ending Principal Balance of the Class A Notes
Pool A 130,652,072.73
Pool B 29,097,376.75
--------------
--------------
159,749,449.48
==============
</TABLE>
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $221,020,000 Original Face $221,020,000 Balance Factor
$ 3.961516 $ 27.105876 72.278278%
----------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
IV. CLASS A NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class A Notes
Class A1 0.00
Class A2 19,720,390.22
Class A3 62,400,000.00
Class A4 41,000,000.00
Class A5 42,620,000.00
-------------
Class A Monthly Interest 165,740,390.22
Class A1 (Actual Number Days/360) 0.00
Class A2 96,136.91
Class A3 325,520.00
Class A4 219,862.50
Class A5 234,054.83
-------------
Class A Monthly Principal
Class A1 0.00
Class A2 5,990,940.74
Class A3 0.00
Class A4 0.00
Class A5 0.00
-------------
5,990,940.74
Ending Principal Balance of the Class A Notes
Class A1 0.00
Class A2 13,729,449.48
Class A3 62,400,000.00
Class A4 41,000,000.00
Class A5 42,620,000.00
-------------
--------------
159,749,449.48
==============
</TABLE>
<TABLE>
<CAPTION>
Class A2
-----------------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $40,000,000 Original Face $40,000,000 Balance Factor
$ 2.40342 $ 149.77352 34.323624%
-----------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 13, 2000
<TABLE>
<S> <C> <C>
V. CLASS B NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class B Notes
Pool A 2,316,417.43
Pool B 509,209.39
-------------
2,825,626.82
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 12,527.96
Class B Monthly Interest - Pool B 2,753.97
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 88,991.85
Class B Monthly Principal - Pool B 13,138.06
-------------
102,129.91
Ending Principal Balance of the Class B Notes
Pool A 2,227,425.58
Pool B 496,071.33
-------------
------------
2,723,496.91
============
</TABLE>
<TABLE>
----------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $3,768,000 Original Face $3,768,000 Balance Factor
$ 4.055714 $ 27.104541 72.279642%
----------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
VI. CLASS C NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class C Notes
Pool A 4,633,635.63
Pool B 1,018,618.06
------------
5,652,253.69
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 26,199.35
Class C Monthly Interest - Pool B 5,759.44
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 177,983.70
Class C Monthly Principal - Pool B 26,276.13
------------
204,259.83
Ending Principal Balance of the Class C Notes
Pool A 4,455,651.93
Pool B 992,341.93
------------
------------
5,447,993.86
============
</TABLE>
<TABLE>
------------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $7,537,000 Original Face $7,537,000 Balance Factor
$ 4.240253 $ 27.100946 72.283320%
------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 13, 2000
<TABLE>
<S> <C> <C>
VII. CLASS D NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class D Notes
Pool A 2,088,556.60
Pool B 678,945.85
------------
2,767,502.45
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 18,904.54
Class D Monthly Interest - Pool B 4,155.71
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 118,655.80
Class D Monthly Principal - Pool B 17,517.42
------------
136,173.22
Ending Principal Balance of the Class D Notes
Pool A 1,969,900.80
Pool B 661,428.43
------------
------------
2,631,329.23
============
</TABLE>
<TABLE>
------------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $5,024,000 Original Face $5,024,000 Balance Factor
$ 4.590018 $ 27.104542 52.375184%
------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
VIII. CLASS E NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class E Notes
Pool A 3,862,297.24
Pool B 849,080.84
------------
4,711,378.08
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 31,381.17
Class E Monthly Interest - Pool B 6,898.78
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 148,319.75
Class E Monthly Principal - Pool B 21,896.77
------------
170,216.52
Ending Principal Balance of the Class E Notes
Pool A 3,713,977.49
Pool B 827,184.07
------------
-------------
4,541,161.56
=============
</TABLE>
<TABLE>
-------------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $6,282,000 Original Face $6,282,000 Balance Factor
$ 6.093593 $ 27.095912 72.288468%
-------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 13, 2000
<TABLE>
<S> <C> <C>
IX. ISSUERS RESIDUAL PRINCIPAL BALANCE
Beginning Residual Principal Balance
Pool A 4,640,328.77
Pool B 1,019,835.66
------------
5,660,164.43
Residual Interest - Pool A 54,391.29
Residual Interest - Pool B 11,925.33
Residual Principal - Pool A 178,576.98
Residual Principal - Pool B 26,363.72
------------
204,940.70
Ending Residual Principal Balance
Pool A 4,461,751.79
Pool B 993,471.94
------------
-------------
5,455,223.73
=============
X. PAYMENT TO SERVICER
- Collection period Servicer Fee 70,633.99
- Servicer Advances reimbursement 485,426.43
- Tax, Maintenance, Late Charges, Bank Interest and other amounts 107,733.48
-------------
Total amounts due to Servicer 663,793.90
=============
</TABLE>
<PAGE> 6
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 13, 2000
<TABLE>
<S> <C> <C>
XI. AGGREGATE DISCOUNTED CONTRACT BALANCE
POOL A
Aggregate Discounted Contract Balance, as defined in Indenture
Agreement, at the beginning of the related Collection Period 154,413,570.28
Aggregate Discounted Contract Balance of Additional Contracts
acquired during Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 5,932,789.93
Aggregate Discounted Contract Balance, as defined in Indenture --------------
Agreement, at the ending of the related Collection Period 148,480,780.35
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 3,137,725.50
- Principal portion of Prepayment Amounts 2,795,064.43
- Principal portion of Contracts repurchased under Indenture
Agreement Section 4.02 0.00
- Aggregate Discounted Contract Balance of Contracts that
have become Defaulted Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute
Contracts added during Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor
Contracts withdrawn during Collection Period 0.00
-------------
Total Decline in Aggregate Discounted Contract Balance 5,932,789.93
=============
POOL B
Aggregate Discounted Contract Balance, as defined in Indenture
Agreement, at the beginning of the related Collection Period 33,943,745.45
Aggregate Discounted Contract Balance of Additional Contracts
acquired during Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 875,870.99
Aggregate Discounted Contract Balance, as defined in Indenture --------------
Agreement, at the ending of the related Collection Period 33,067,874.46
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 875,870.99
- Principal portion of Prepayment Amounts 0.00
- Principal portion of Contracts repurchased under Indenture
Agreement Section 4.02 0.00
- Aggregate Discounted Contract Balance of Contracts that
have become Defaulted Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute Contracts
added during Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor
Contracts withdrawn during Collection Period 0.00
-------------
Total Decline in Aggregate Discounted Contract Balance 875,870.99
=============
--------------
AGGREGATE DISCOUNTED CONTRACT BALANCE AT THE END OF THE RELATED COLLECTION PERIOD 181,548,654.81
==============
</TABLE>
<PAGE> 7
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 13, 2000
XIII. CUMULATIVE DETAIL OF SUBSTITUTED CONTRACTS - PREPAYMENTS
<TABLE>
<CAPTION>
POOL A Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
2199-001 Regional Radiology, LLC $1,112,975.58 1881-001 $ 2,435,321.88
1231-041 Radnet Management, Inc. $953,502.31
1560-013 Drew Medical inc $342,866.78
Cash $25,977.21
------------- ---------------
Totals: $2,435,321.88 $ 2,435,321.88
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID CONTRACTS $ 2,435,321.88
b) ADCB OF POOL A AT CLOSING DATE $201,135,070.09
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 1.21%
</TABLE>
<TABLE>
<S> <C> <C>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution
& Servicing Agreement Section 7.02 $0.00
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD YES NO X
--- ---
</TABLE>
<TABLE>
<CAPTION>
POOL B Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
NONE
------------- -------------
Totals: $0.00 $0.00
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID CONTRACTS $0.00
b) ADCB OF POOL B AT CLOSING DATE $50,047,123.17
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL UNLESS RATING AGENCY APPROVES) 0.00%
</TABLE>
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED (>180 DAYS), THE
SERVICER HAS FAILED TO ADVANCE, OR A BANKRUPTCY PETITION HAS BEEN FILED
<TABLE>
<CAPTION>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
<S> <C> <C>
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution
& Servicing Agreement Section 7.02 $0.00
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD YES NO X
--- ---
</TABLE>
<PAGE> 8
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 13, 2000
XIV. CUMULATIVE DETAIL OF SUBSTITUTED CONTRACTS - NON-PERFORMING (POOL A) &
GENERAL RIGHTS (POOL B)
<TABLE>
<CAPTION>
POOL A - NON-PERFORMING Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
408-502 Western Kentucky Diagnostic $ 495,646.95 277-103 $2,561,363.27
1042-501 Pinnacle Imaging, Inc. $1,631,421.93 1513-002 $ 953,250.10
2375-001 Tuscarawas Ambulatory $1,286,730.05 1725-002 $ 588,254.35
1097-506 Advanced Healthcare Resources $ 675,567.93
Cash $ 13,500.87
------------- ---------------
Totals: $4,102,867.73 $ 4,102,867.72
a) DISCOUNTED CONTRACT BALANCES OF ALL NON-PERFORMING CONTRACTS 4,102,867.72
b) ADCB OF POOL A AT CLOSING DATE $251,182,193.26
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 1.63%
</TABLE>
<TABLE>
<CAPTION>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
<S> <C> <C>
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution
& Servicing Agreement Section 7.02 $0.00
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD YES NO X
--- ---
</TABLE>
<TABLE>
<CAPTION>
POOL B - GENERAL CONTRACT SUBSTITUTION RIGHTS Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
None
------------- --------------
Totals: $0.00 $ 0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL CONTRACTS SUBSTITUTED $ 0.00
b) ADCB OF POOL B AT CLOSING DATE $50,047,123.17
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
</TABLE>
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED (> 180 DAYS), THE SERVICER
HAS DECLINED TO ADVANCE OR A BANKRUPTCY PETITION HAS BEEN FILED.
<TABLE>
<CAPTION>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
<S> <C> <C>
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution
& Servicing Agreement Section 7.02 $0.00
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD YES NO X
--- ---
</TABLE>
<PAGE> 9
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 13, 2000
XV. POOL PERFORMANCE MEASUREMENTS
1. AGGREGATE DISCOUNTED CONTRACT BALANCE
<TABLE>
<CAPTION>
CONTRACTS DELINQUENT > 90 DAYS TOTAL OUTSTANDING CONTRACTS
<S> <C> <C> <C>
This Month 6,277,292.97 This Month 181,548,654.81
1 Month Prior 7,236,289.28 1 Month Prior 188,357,315.73
2 Months Prior 2,041,410.74 2 Months Prior 193,033,788.23
Total 15,554,992.99 Total 562,939,758.77
a) 3 MONTH AVERAGE 5,184,997.66 b) 3 MONTH AVERAGE 187,646,586.26
c) a/b 2.76%
</TABLE>
<TABLE>
<S> <C> <C>
2. Does a Delinquency Condition Exist (1c > 6%)?
Yes No X
--------- ----------
3. Restricting Event Check
A. A Delinquency Condition exists for current period? Yes No X
--------- ----------
B. An Indenture Event of Default has occurred and is then continuing? Yes No X
--------- ----------
4. Has a Servicer Event of Default occurred? Yes No X
--------- ----------
5. Amortization Event Check
A. Is 1c > 8% ? Yes No X
--------- ----------
B. Bankruptcy, insolvency, reorganization; default/violation of any covenant or
obligation not remedied within 90 days? Yes No X
--------- ----------
C. As of any Determination date, the sum of all defaulted contracts since the
Closing date exceeds 6% of the ADCB on the Closing Date? Yes No X
--------- ----------
</TABLE>
<TABLE>
<S> <C> <C>
6. Aggregate Discounted Contract Balance at Closing Date Balance $251,182,193.26
---------------
</TABLE>
DELINQUENT LEASE SUMMARY
<TABLE>
<CAPTION>
Days Past Due Current Pool Balance # Leases
------------- -------------------- --------
<S> <C> <C>
31 - 60 7,170,597.15 34
61 - 90 668,799.40 5
91 - 180 6,277,292.97 12
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
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