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Previous: DVI RECEIVABLES CORP VIII, 8-K, 2000-12-01 |
Next: DVI RECEIVABLES CORP VIII, 8-K, EX-99.2, 2000-12-01 |
<PAGE> 1
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE NOVEMBER 13, 2000
<TABLE>
<S> <C>
I. RECONCILIATION OF COLLECTION ACCOUNT:
End of Period Collection Account Balance as of Prior Payment Date: 852,298.08
Available Funds:
Contract Payments due and received in this period 4,583,561.86
Contract Payments due in prior period(s) and received in this period 290,946.45
Contract Payments received in this period for next period 373,298.08
Sales, Use and Property Tax payments received 66,843.36
Prepayment Amounts related to early termination in this period 2,302,937.52
Servicer Advance 339,231.79
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 13,627.83
Interest earned on Collection Account 33,410.58
Interest earned on Affiliated Account 1,510.40
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 36,937.57
--------------
Total Available Funds 8,894,603.52
Less: Amounts to be Retained in Collection Account 1,005,945.90
--------------
AMOUNT TO BE DISTRIBUTED 7,888,657.62
==============
DISTRIBUTION OF FUNDS:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer Advances 290,946.45
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 5,667,207.67
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 110,199.69
c) Class C Principal and Interest 221,744.09
d) Class D Principal and Interest 149,520.24
e) Class E Principal and Interest 196,013.79
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) 61,601.19
b) Residual Principal (Provided no Restricting or Amortization Event in effect) 191,576.69
c) Reserve Account Distribution (Provided no Restricting or Amortization
Event in effect) 13,627.83
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest Earned and Any Other
Amounts 138,701.91
7. To Servicer, Servicing Fee and other Servicing Compensations 68,080.74
--------------
TOTAL FUNDS DISTRIBUTED 7,888,657.62
==============
End of Period Collection Account Balance {Includes Payments in Advance & Restricting Event Funds --------------
(if any)} 1,005,945.90
==============
II. RESERVE ACCOUNT
Beginning Balance $2,511,821.93
- Add Investment Earnings 13,627.83
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 13,627.83
--------------
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 NOVEMBER 13, 2000
<TABLE>
<S> <C> <C>
III. CLASS A NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class A Notes
Pool A 130,652,072.73
Pool B 29,097,376.75
----------------
159,749,449.48
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 692,207.60
Class A Monthly Interest - Pool B 154,160.80
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 4,791,254.26
Class A Monthly Principal - Pool B 809,022.34
----------------
5,600,276.60
Ending Principal Balance of the Class A Notes
Pool A 125,860,818.47
Pool B 28,288,354.41
---------------- --------------
154,149,172.88
==============
</TABLE>
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $221,020,000 Original Face $221,020,000 Balance Factor
<S> <C> <C>
$ 3.829375 $ 25.338325 69.744445%
----------------------------------------------------------------------------------------
</TABLE>
IV. CLASS A NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning 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
---------------
Class A Monthly Interest 159,749,449.48
Class A1 (Actual Number Days/360) 0.00
Class A2 66,931.07
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 5,600,276.60
Class A3 0.00
Class A4 0.00
Class A5 0.00
---------------
5,600,276.60
Ending Principal Balance of the Class A Notes
Class A1 0.00
Class A2 8,129,172.88
Class A3 62,400,000.00
Class A4 41,000,000.00
Class A5 42,620,000.00
--------------- --------------
154,149,172.88
==============
</TABLE>
Class A2
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $40,000,000 Original Face $40,000,000 Balance Factor
<S> <C> <C>
$ 1.67328 $ 140.00692 20.322932%
----------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE NOVEMBER 13, 2000
V. CLASS B NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class B Notes
Pool A 2,227,425.58
Pool B 496,071.33
-------------
2,723,496.91
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 12,046.66
Class B Monthly Interest - Pool B 2,682.92
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 81,678.39
Class B Monthly Principal - Pool B 13,791.72
-------------
95,470.11
Ending Principal Balance of the Class B Notes
Pool A 2,145,747.19
Pool B 482,279.61
------------- ------------
2,628,026.80
============
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $3,768,000 Original Face $3,768,000 Balance Factor
<S> <C> <C> <C>
$ 3.909124 $ 25.337078 69.745934%
-------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
VI. CLASS C NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class C Notes
Pool A 4,455,651.93
Pool B 992,341.93
-------------
5,447,993.86
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 25,193.00
Class C Monthly Interest - Pool B 5,610.87
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 163,356.78
Class C Monthly Principal - Pool B 27,583.44
-------------
190,940.22
Ending Principal Balance of the Class C Notes
Pool A 4,292,295.15
Pool B 964,758.49
------------- ------------
5,257,053.64
============
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $7,537,000 Original Face $7,537,000 Balance Factor
<S> <C> <C>
$ 4.087020 $ 25.333716 69.749949%
-------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE NOVEMBER 13, 2000
VII. CLASS D NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class D Notes
Pool A 2,969,900.80
Pool B 661,428.43
-------------
3,631,329.23
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 18,178.27
Class D Monthly Interest - Pool B 4,048.49
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 108,904.52
Class D Monthly Principal - Pool B 18,388.96
-------------
127,293.48
Ending Principal Balance of the Class D Notes
Pool A 2,860,996.28
Pool B 643,039.47
------------- ------------
3,504,035.75
============
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $5,024,000 Original Face $5,024,000 Balance Factor
<S> <C> <C>
$ 4.424116 $ 25.337078 69.745935%
------------------------------------------------------------------------------
</TABLE>
VIII. CLASS E NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class E Notes
Pool A 3,713,977.49
Pool B 827,184.07
-------------
4,541,161.56
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 30,176.07
Class E Monthly Interest - Pool B 6,720.87
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 136,130.65
Class E Monthly Principal - Pool B 22,986.20
-------------
159,116.85
Ending Principal Balance of the Class E Notes
Pool A 3,577,846.84
Pool B 804,197.87
------------- ------------
4,382,044.71
============
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $6,282,000 Original Face $6,282,000 Balance Factor
<S> <C> <C>
$ 5.873438 $ 25.329011 69.755567%
------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE NOVEMBER 13, 2000
IX. ISSUERS RESIDUAL PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Residual Principal Balance
Pool A 4,461,751.79
Pool B 993,471.94
-------------
5,455,223.73
Residual Interest - Pool A 50,168.74
Residual Interest - Pool B 11,432.45
Residual Principal - Pool A 163,901.30
Residual Principal - Pool B 27,675.39
------------
191,576.69
Ending Residual Principal Balance
Pool A 4,297,850.49
Pool B 965,796.55
------------ ------------
5,263,647.04
============
X. PAYMENT TO SERVICER
- Collection period Servicer Fee 68,080.74
- Servicer Advances reimbursement 290,946.45
- Tax, Maintenance, Late Charges, Bank Interest and other amounts 138,701.91
----------
Total amounts due to Servicer 497,729.10
==========
</TABLE>
<PAGE> 6
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE NOVEMBER 13, 2000
XI. AGGREGATE DISCOUNTED CONTRACT BALANCE
<TABLE>
<S> <C> <C>
POOL A
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 148,480,780.35
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 5,445,225.89
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
---------------
ending of the related Collection Period 143,035,554.46
===============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 3,146,570.07
- Principal portion of Prepayment Amounts 2,298,655.82
- 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 5,445,225.89
============
POOL B
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 33,067,874.46
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 919,448.05
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
---------------
ending of the related Collection Period 32,148,426.41
===============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 919,448.05
- 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 919,448.05
=============
---------------
AGGREGATE DISCOUNTED CONTRACT BALANCE AT THE END OF THE RELATED COLLECTION PERIOD 175,183,980.87
===============
</TABLE>
<PAGE> 7
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE NOVEMBER 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
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>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
<TABLE>
<S> <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
</TABLE>
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD
YES / / NO /X/
<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
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
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
<TABLE>
<S> <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
</TABLE>
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD
YES / / NO /X/
<PAGE> 8
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE NOVEMBER 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>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
<TABLE>
<S> <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
</TABLE>
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD
YES NO X
--------- ---------
<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%
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED
(> 180 DAYS), THE SERVICER HAS DECLINED TO ADVANCE
OR A BANKRUPTCY PETITION HAS BEEN FILED.
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
</TABLE>
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD
YES NO X
--------- ---------
<PAGE> 9
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE NOVEMBER 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 4,699,761.54 This Month 175,183,980.87
1 Month Prior 6,277,292.97 1 Month Prior 181,548,654.81
2 Months Prior 7,236,289.28 2 Months Prior 188,357,315.73
Total 18,213,343.79 Total 545,089,951.41
a) 3 MONTH AVERAGE 6,071,114.60 b) 3 MONTH AVERAGE 181,696,650.47
c) a/b 3.34%
</TABLE>
<TABLE>
<CAPTION>
<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
------- -------
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 6,911,862.55 29
61 - 90 1,907,525.98 17
91 - 180 4,699,761.54 7
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
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