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Previous: DVI RECEIVABLES CORP VIII, 8-K, EX-99.2, 2000-10-18 |
Next: NORTHERN CROSS INVESTMENTS LTD, 13F-HR, 2000-10-18 |
<PAGE> 1
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 14, 2000
<TABLE>
<S> <C>
I. RECONCILIATION OF COLLECTION ACCOUNT:
End of Period Collection Account Balance as of Prior Payment Date: 608,277.81
Available Funds:
Contract Payments due and received in this period 5,093,985.65
Contract Payments due in prior period(s) and received in this period 554,605.93
Contract Payments received in this period for next period 197,454.90
Sales, Use and Property Tax, Maintenance, Late Charges 135,399.19
Prepayment Amounts related to early termination in this period 945,484.66
Servicer Advance 1,093,502.10
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 15,329.41
Interest earned on Collection Account 35,886.66
Interest earned on Affiliated Account 7,404.50
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
Any other amounts 0.00
-------------
Total Available Funds 8,687,330.81
Less: Amounts to be Retained in Collection Account 478,257.50
-------------
AMOUNT TO BE DISTRIBUTED 8,209,073.31
=============
DISTRIBUTION OF FUNDS:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer Advances 554,605.93
3. To Noteholders (For Servicer Report immediately following the Final Additional Closing Date)
a) Class A1 Principal and Interest 5,019,892.66
a) Class A2 Principal (distributed after A1 Note matures) and Interest 236,112.50
a) Class A3 Principal (distributed after A2 Note matures) and Interest 522,208.33
a) Class A4 Principal (distributed after A3 Note matures) and Interest 619,968.75
b) Class B Principal and Interest 109,737.23
c) Class C Principal and Interest 220,163.25
d) Class D Principal and Interest 148,959.03
e) Class E Principal and Interest 199,509.04
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) 115,003.04
b) Residual Principal (Provided no Restricting or Amortization Event in effect) 166,530.65
c) Reserve Account Distribution (Provided no Restricting or Amortization Event in effect) 15,329.41
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest Earned and Any Other Amounts 178,690.35
7. To Servicer, Servicing Fee and other Servicing Compensations 102,363.14
-------------
TOTAL FUNDS DISTRIBUTED 8,209,073.31
=============
-------------
End of Period Collection Account Balance {Includes Payments in Advance & Restricting Event Funds (if any)} 478,257.50
=============
II. RESERVE ACCOUNT
Beginning Balance $2,925,289.09
- Add Investment Earnings 15,329.41
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 15,329.41
-------------
End of period balance $2,925,289.09
=============
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. $2,925,289.09
=============
</TABLE>
<PAGE> 2
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 14, 2000
III. CLASS A NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class A Notes
Pool A 167,718,789.05
Pool B 72,492,955.51
--------------
240,211,744.56
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 1,056,592.78
Class A Monthly Interest - Pool B 456,690.25
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 2,303,648.87
Class A Monthly Principal - Pool B 2,581,250.34
--------------
4,884,899.21
Ending Principal Balance of the Class A Notes
Pool A 165,415,140.18
Pool B 69,911,705.17
--------------
--------------
235,326,845.35
==============
</TABLE>
<TABLE>
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $257,425,000 Original Face $257,425,000 Balance Factor
$5.878539 $18.976009 91.415692%
</TABLE>
IV. CLASS A NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class A Notes
Class A1 22,586,744.56
Class A2 39,000,000.00
Class A3 83,000,000.00
Class A4 95,625,000.00
-------------
Class A Monthly Interest 240,211,744.56
Class A1 (Actual Number Days/360) 134,993.45
Class A2 236,112.50
Class A3 522,208.33
Class A4 619,968.75
-------------
Class A Monthly Principal
Class A1 4,884,899.21
Class A2 0.00
Class A3 0.00
Class A4 0.00
-------------
4,884,899.21
Ending Principal Balance of the Class A Notes
Class A1 17,701,845.35
Class A2 39,000,000.00
Class A3 83,000,000.00
Class A4 95,625,000.00
-------------
--------------
235,326,845.35
==============
</TABLE>
Class A1
<TABLE>
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $39,800,000 Original Face $39,800,000 Balance Factor
$3.391795 $122.736161 44.476998%
</TABLE>
<PAGE> 3
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 14, 2000
V. CLASS B NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class B Notes
Pool A 2,858,202.85
Pool B 1,235,389.39
------------
4,093,592.24
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 18,483.05
Class B Monthly Interest - Pool B 7,988.85
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 39,266.74
Class B Monthly Principal - Pool B 43,998.59
------------
83,265.33
Ending Principal Balance of the Class B Notes
Pool A 2,818,936.11
Pool B 1,191,390.80
------------
-------------
4,010,326.91
=============
</TABLE>
<TABLE>
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,387,000 Original Face $4,387,000 Balance Factor
$6.034169 $18.980016 91.413880%
</TABLE>
VI. CLASS C NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class C Notes
Pool A 5,717,096.90
Pool B 2,471,087.57
------------
8,188,184.47
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 37,446.98
Class C Monthly Interest - Pool B 16,185.62
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 78,533.48
Class C Monthly Principal - Pool B 87,997.17
------------
166,530.65
Ending Principal Balance of the Class C Notes
Pool A 5,638,563.42
Pool B 2,383,090.40
------------
-------------
8,021,653.82
=============
</TABLE>
<TABLE>
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $8,775,000 Original Face $8,775,000 Balance Factor
$6.111977 $18.977852 91.414858%
</TABLE>
<PAGE> 4
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 14, 2000
VII. CLASS D NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class D Notes
Pool A 3,811,397.93
Pool B 1,647,391.71
------------
5,458,789.64
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 26,489.22
Class D Monthly Interest - Pool B 11,449.37
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 52,355.66
Class D Monthly Principal - Pool B 58,664.78
------------
111,020.44
Ending Principal Balance of the Class D Notes
Pool A 3,759,042.27
Pool B 1,588,726.93
------------
------------
5,347,769.20
============
</TABLE>
<TABLE>
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $5,850,000 Original Face $5,850,000 Balance Factor
$6.485229 $18.977853 91.414858%
</TABLE>
VIII. CLASS E NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class E Notes
Pool A 4,764,593.03
Pool B 2,059,394.06
------------
6,823,987.09
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 42,404.88
Class E Monthly Interest - Pool B 18,328.61
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 65,444.57
Class E Monthly Principal - Pool B 73,330.98
------------
138,775.55
Ending Principal Balance of the Class E Notes
Pool A 4,699,148.46
Pool B 1,986,063.08
------------
------------
6,685,211.54
============
</TABLE>
<TABLE>
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $7,313,000 Original Face $7,313,000 Balance Factor
$8.304867 $18.976555 91.415446%
</TABLE>
<PAGE> 5
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 14, 2000
<TABLE>
<S> <C> <C>
IX. ISSUERS RESIDUAL PRINCIPAL BALANCE
Beginning Residual Principal Balance
Pool A 5,719,799.09
Pool B 2,472,294.81
------------
8,192,093.90
Residual Interest - Pool A 87,194.45
Residual Interest - Pool B 27,808.59
Residual Principal - Pool A 78,533.48
Residual Principal - Pool B 87,997.17
------------
166,530.65
Ending Residual Principal Balance
Pool A 5,641,265.61
Pool B 2,384,297.64
------------
------------
8,025,563.25
============
X. PAYMENT TO SERVICER
- Collection period Servicer Fee 102,363.14
- Servicer Advances reimbursement 554,605.93
- Tax, Maintenance, Late Charges, Bank Interest and other amounts 178,690.35
------------
Total amounts due to Servicer 835,659.42
============
</TABLE>
<PAGE> 6
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 14, 2000
XI. AGGREGATE DISCOUNTED CONTRACT BALANCE
<TABLE>
<CAPTION>
POOL A
<S> <C> <C>
Aggregate Discounted Contract Balance, as defined in Indenture Agreement,
at the beginning of the related Collection Period 190,589,878.85
Aggregate Discounted Contract Balance of Additional Contracts acquired
during Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 2,617,782.81
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, --------------
at the ending of the related Collection Period 187,972,096.04
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 2,600,584.97
- Principal portion of Prepayment Amounts 17,197.84
- 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 2,617,782.81
============
POOL B
Aggregate Discounted Contract Balance, as defined in Indenture Agreement,
at the beginning of the related Collection Period 82,378,513.04
Aggregate Discounted Contract Balance of Additional Contracts acquired
during Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 2,933,239.02
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, --------------
at the ending of the related Collection Period 79,445,274.02
===============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 2,006,769.07
- Principal portion of Prepayment Amounts 926,469.95
- 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 2,933,239.02
============
--------------
AGGREGATE DISCOUNTED CONTRACT BALANCE AT THE END OF THE RELATED COLLECTION PERIOD 267,417,370.06
==============
</TABLE>
<PAGE> 7
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 14, 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>
NONE
------------- -------------
Totals: $0.00 $0.00
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID CONTRACTS $ 0.00
b) ADCB OF POOL A AT CLOSING DATE $202,195,615.75
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
</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 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 $90,333,293.68
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 XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 14, 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>
NONE
------------- -------------
Totals: $0.00 $0.00
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL NON-PERFORMING CONTRACTS 0.00
b) ADCB OF POOL A AT CLOSING DATE $202,195,615.75
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
</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
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL CONTRACTS SUBSTITUTED 0.00
b) ADCB OF POOL B AT CLOSING DATE $90,333,293.68
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 XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE OCTOBER 14, 2000
XV. POOL PERFORMANCE MEASUREMENTS
1. AGGREGATE DISCOUNTED CONTRACT BALANCE
<TABLE>
<CAPTION>
CONTRACTS DELINQUENT > 90 DAYS TOTAL OUTSTANDING CONTRACTS
<S> <C> <C>
This Month 1,014,611.11 This Month 267,417,370.06
1 Month Prior 560,468.33 1 Month Prior 272,968,391.89
2 Months Prior 190,853.11 2 Months Prior 279,054,181.82
Total 1,765,932.55 Total 819,439,943.77
a) 3 MONTH AVERAGE 588,644.18 b) 3 MONTH AVERAGE 273,146,647.92
c) a/b 0.22%
</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 $270,243,724.70
---------------
</TABLE>
DELINQUENT LEASE SUMMARY
<TABLE>
<CAPTION>
Days Past Due Current Pool Balance # Leases
------------- -------------------- --------
<S> <C> <C>
31 - 60 10,613,914.46 54
61 - 90 3,622,571.33 14
91 - 180 1,014,611.11 13
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
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