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Previous: DVI RECEIVABLES CORP VIII, 8-K, EX-99.2, 2000-09-25 |
Next: FIRST HORIZON ASSET SECURITIES INC, 424B5, 2000-09-25 |
<PAGE> 1
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 14, 2000
<TABLE>
<S> <C>
I. RECONCILIATION OF COLLECTION ACCOUNT:
End of Period Collection Account Balance as of Prior Payment Date: 586,476.61
Available Funds:
Contract Payments due and received in this period 5,522,465.86
Contract Payments due in prior period(s) and received in this period 502,478.26
Contract Payments received in this period for next period 342,093.63
Sales, Use and Property Tax, Maintenance, Late Charges 152,399.65
Prepayment Amounts related to early termination in this period 1,787,299.30
Servicer Advance 564,995.98
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 15,834.53
Interest earned on Collection Account 44,302.33
Interest earned on Affiliated Account 8,189.30
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 9,526,535.45
Less: Amounts to be Retained in Collection Account 608,277.81
--------------
AMOUNT TO BE DISTRIBUTED 8,918,257.64
==============
DISTRIBUTION OF FUNDS:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or
Servicer Advances 502,478.26
3. To Noteholders (For Servicer Report immediately following
the Final Additional Closing Date)
a) Class A1 Principal and Interest 5,517,277.79
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 118,349.07
c) Class C Principal and Interest 237,402.16
d) Class D Principal and Interest 160,500.31
e) Class E Principal and Interest 214,232.32
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) 281,783.33
b) Residual Principal (Provided no Restricting or
Amortization Event in effect) 182,573.69
c) Reserve Account Distribution (Provided no
Restricting or Amortization Event in effect) 15,834.53
6. To Servicer, Tax, Maintenance, Late Charges and Bank
Interest Earned and Any Other Amounts 204,891.28
7. To Servicer, Servicing Fee and other Servicing Compensations 104,645.32
--------------
TOTAL FUNDS DISTRIBUTED 8,918,257.64
==============
--------------
End of Period Collection Account Balance {Includes Payments in Advance
& Restricting Event Funds (if any)} 608,277.81
==============
II. RESERVE ACCOUNT
Beginning Balance $2,925,289.09
- Add Investment Earnings 15,834.53
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 15,834.53
--------------
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 SEPTEMBER 14, 2000
<TABLE>
<CAPTION>
III. CLASS A NOTE PRINCIPAL BALANCE
-------------------------------------
<S> <C> <C>
Beginning Principal Balance of the Class A Notes
Pool A 171,470,869.83
Pool B 74,096,369.87
--------------------
245,567,239.70
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 1,075,377.67
Class A Monthly Interest - Pool B 464,694.56
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 3,752,080.78
Class A Monthly Principal - Pool B 1,603,414.36
--------------------
5,355,495.14
Ending Principal Balance of the Class A Notes
Pool A 167,718,789.05
Pool B 72,492,955.51
-------------------- -----------------------
240,211,744.56
=======================
------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $257,425,000 Original Face $257,425,000 Balance Factor
$ 5.982606 $ 20.804099 93.313293%
------------------------------------------------------------------------------
IV. CLASS A NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class A Notes
Class A1 27,942,239.70
Class A2 39,000,000.00
Class A3 83,000,000.00
Class A4 95,625,000.00
--------------------
Class A Monthly Interest 245,567,239.70
Class A1 (Actual Number Days/360) 161,782.65
Class A2 236,112.50
Class A3 522,208.33
Class A4 619,968.75
--------------------
Class A Monthly Principal
Class A1 5,355,495.14
Class A2 0.00
Class A3 0.00
Class A4 0.00
--------------------
5,355,495.14
Ending 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
-------------------- -----------------------
240,211,744.56
=======================
Class A1
--------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $39,800,000 Original Face $39,800,000 Balance Factor
$ 4.064891 $ 134.560179 56.750614%
--------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 14, 2000
V. CLASS B NOTE PRINCIPAL BALANCE
---------------------------------
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class B Notes
Pool A 2,922,158.77
Pool B 1,262,720.32
----------------
4,184,879.09
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 18,896.63
Class B Monthly Interest - Pool B 8,165.59
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 63,955.92
Class B Monthly Principal - Pool B 27,330.93
----------------
91,286.85
Ending Principal Balance of the Class B Notes
Pool A 2,858,202.85
Pool B 1,235,389.39
---------------- -------------------------
4,093,592.24
=========================
-------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,387,000 Original Face $4,387,000 Balance Factor
$ 6.168730 $ 20.808491 93.311881%
-------------------------------------------------------------------------
VI. CLASS C NOTE PRINCIPAL BALANCE
----------------------------------
Beginning Principal Balance of the Class C Notes
Pool A 5,845,008.74
Pool B 2,525,749.42
----------------
8,370,758.16
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 38,284.81
Class C Monthly Interest - Pool B 16,543.66
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 127,911.84
Class C Monthly Principal - Pool B 54,661.85
----------------
182,573.69
Ending Principal Balance of the Class C Notes
Pool A 5,717,096.90
Pool B 2,471,087.57
---------------- -------------------------
8,188,184.47
=========================
-------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $8,775,000 Original Face $8,775,000 Balance Factor
$ 6.248259 $ 20.806119 93.312644%
-------------------------------------------------------------------------
</TABLE>
<PAGE> 4
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 14, 2000
<TABLE>
<CAPTION>
VII. CLASS D NOTE PRINCIPAL BALANCE
<S> <C> <C>
Beginning Principal Balance of the Class D Notes
Pool A 3,896,672.49
Pool B 1,683,832.95
-----------------
5,580,505.44
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 27,081.87
Class D Monthly Interest - Pool B 11,702.64
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 85,274.56
Class D Monthly Principal - Pool B 36,441.24
-----------------
121,715.80
Ending Principal Balance of the Class D Notes
Pool A 3,811,397.93
Pool B 1,647,391.71
----------------- -----------------
5,458,789.64
=================
------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $5,850,000 Original Face $5,850,000 Balance Factor
$ 6.629831 $ 20.806120 93.312643%
------------------------------------------------------------------------------------
VIII. CLASS E NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class E Notes
Pool A 4,871,186.23
Pool B 2,104,945.60
------------------
6,976,131.83
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 43,353.56
Class E Monthly Interest - Pool B 18,734.02
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 106,593.20
Class E Monthly Principal - Pool B 45,551.54
------------------
152,144.74
Ending Principal Balance of the Class E Notes
Pool A 4,764,593.03
Pool B 2,059,394.06
------------------ -----------------
6,823,987.09
=================
------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $7,313,000 Original Face $7,313,000 Balance Factor
$ 8.490029 $ 20.804696 93.313101%
------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 14, 2000
<TABLE>
<CAPTION>
IX. ISSUERS RESIDUAL PRINCIPAL BALANCE
<S> <C> <C>
Beginning Residual Principal Balance
Pool A 5,847,710.93
Pool B 2,526,956.66
------------------
8,374,667.59
Residual Interest - Pool A 74,595.60
Residual Interest - Pool B 207,187.73
Residual Principal - Pool A 127,911.84
Residual Principal - Pool B 54,661.85
------------------
182,573.69
Ending Residual Principal Balance
Pool A 5,719,799.09
Pool B 2,472,294.81
------------------ -----------------------
8,192,093.90
=======================
X. PAYMENT TO SERVICER
- Collection period Servicer Fee 104,645.32
- Servicer Advances reimbursement 502,478.26
- Tax, Maintenance, Late Charges, Bank Interest and other amounts 204,891.28
-----------------------
Total amounts due to Servicer 812,014.86
=======================
</TABLE>
<PAGE> 6
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 14, 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 194,853,607.01
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 4,263,728.16
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the --------------
ending of the related Collection Period 190,589,878.85
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 2,482,981.83
- Principal portion of Prepayment Amounts 1,780,746.33
- 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 4,263,728.16
==============
POOL B
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 84,200,574.81
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 1,822,061.77
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the --------------
ending of the related Collection Period 82,378,513.04
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 1,761,958.97
- Principal portion of Prepayment Amounts 60,102.80
- 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 1,822,061.77
==============
--------------
AGGREGATE DISCOUNTED CONTRACT BALANCE AT THE END OF THE RELATED COLLECTION PERIOD 272,968,391.89
==============
</TABLE>
<PAGE> 7
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 14, 2000
<TABLE>
<CAPTION>
XII. CUMULATIVE DETAIL OF SUBSTITUTED CONTRACTS - PREPAYMENTS
POOL A Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
------------------------------------------------------- -------------------- ------------ -----------------
NONE
<S> <C> <C> <C>
-------------------- -----------------
Totals: $0.00 $0.00
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%
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>
NONE
-------------------- -----------------
Totals: $0.00 $0.00
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%
* 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
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 SEPTEMBER 14, 2000
<TABLE>
<CAPTION>
XII. CUMULATIVE DETAIL OF SUBSTITUTED CONTRACTS - NON-PERFORMING (POOL A) & GENERAL RIGHTS (POOL B)
POOL A - Non-Performing Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
------------------------------------------------------- -------------------- ------------ -----------------
NONE
<S> <C> <C> <C>
-------------------- -----------------
Totals: $0.00 $0.00
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%
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 - GENERAL CONTRACT SUBSTITUTION RIGHTS Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
------------------------------------------------------- -------------------- ------------ -----------------
<S> <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 $90,333,293.68
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
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 SEPTEMBER 14, 2000
XV. POOL PERFORMANCE MEASUREMENTS
<TABLE>
<CAPTION>
1. AGGREGATE DISCOUNTED CONTRACT BALANCE
<S> <C> <C> <C>
CONTRACTS DELINQUENT > 90 DAYS TOTAL OUTSTANDING CONTRACTS
This Month 560,468.33 This Month 272,968,391.89
1 Month Prior 190,853.11 1 Month Prior 279,054,181.82
2 Months Prior 93,811.67 2 Months Prior 285,072,459.69
Total 845,133.11 Total 837,095,033.40
a) 3 MONTH AVERAGE 261,711.04 b) 3 MONTH AVERAGE 279,031,677.80
c) a/b 0.10%
</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 $ 270,243,724.70
------------------------
</TABLE>
<TABLE>
<CAPTION>
DELINQUENT LEASE SUMMARY
Days Past Due Current Pool Balance # Leases
------------- -------------------- --------
<S> <C> <C> <C>
31 - 60 11,782,621.94 60
61 - 90 1,563,548.98 14
91 - 180 560,468.33 12
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
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