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Previous: DVI RECEIVABLES CORP VIII, 8-K, EX-99.1, 2000-09-25 |
Next: DVI RECEIVABLES CORP VIII, 8-K, EX-99.3, 2000-09-25 |
<PAGE> 1
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 13, 2000
<TABLE>
<CAPTION>
I. RECONCILIATION OF COLLECTION ACCOUNT:
<S> <C>
End of Period Collection Account Balance as of Prior Payment Date: 622,230.77
Available Funds:
Contract Payments due and received in this period 4,938,036.28
Contract Payments due in prior period(s) and received in this period 288,586.05
Contract Payments received in this period for next period 240,360.67
Sales, Use and Property Tax, Maintenance, Late Charges 135,514.83
Prepayment Amounts related to early termination in this period 801,057.74
Servicer Advance 376,518.34
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 14,629.53
Interest earned on Collection Account 28,717.23
Interest earned on Affiliated Account 2,092.85
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 7,447,744.29
Less: Amounts to be Retained in Collection Account 587,312.67
--------------
AMOUNT TO BE DISTRIBUTED 6,860,431.62
==============
DISTRIBUTION OF FUNDS:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer Advances 288,586.05
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 4,519,718.94
a) Class A3 Principal (distributed after A2 Note matures) and Interest 370,516.12
a) Class A4 Principal (distributed after A3 Note matures) and Interest 595,956.85
b) Class B Principal and Interest 94,457.57
c) Class C Principal and Interest 189,934.84
d) Class D Principal and Interest 129,550.97
e) Class E Principal and Interest 174,285.01
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) 83,676.20
b) Residual Principal (Provided no Restricting or Amortization Event in effect) 147,306.90
c) Reserve Account Distribution (Provided no Restricting or Amortization Event in effect) 14,629.53
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest Earned and Any Other Amounts 166,324.91
7. To Servicer, Servicing Fee and other Servicing Compensations 85,487.73
--------------
TOTAL FUNDS DISTRIBUTED 6,860,431.62
==============
--------------
End of Period Collection Account Balance {Includes Payments in Advance & Restricting Event Funds (if any)} 587,312.67
==============
II. RESERVE ACCOUNT
Beginning Balance $2,702,437.25
- Add Investment Earnings 14,629.53
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 14,629.53
--------------
End of period balance $2,702,437.25
==============
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. $2,702,437.25
==============
</TABLE>
<PAGE> 2
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 13, 2000
<TABLE>
<CAPTION>
III. CLASS A NOTE PRINCIPAL BALANCE
<S> <C> <C>
Beginning Principal Balance of the Class A Notes
Pool A 157,521,623.81
Pool B 43,089,109.26
---------------------
200,610,733.07
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 914,918.79
Class A Monthly Interest - Pool B 250,270.63
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 3,279,150.80
Class A Monthly Principal - Pool B 1,041,851.69
---------------------
4,321,002.49
Ending Principal Balance of the Class A Notes
Pool A 154,242,473.01
Pool B 42,047,257.57
--------------------- ---------------------
196,289,730.58
=====================
<CAPTION>
--------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $237,814,000 Original Face $237,814,000 Balance Factor
$ 4.899583 $ 18.169672 82.539182%
--------------------------------------------------------------------------------
<CAPTION>
IV. CLASS A NOTE PRINCIPAL BALANCE
<S> <C> <C>
Beginning Principal Balance of the Class A Notes
Class A1 0.00
Class A2 36,461,733.07
Class A3 65,098,000.00
Class A4 99,051,000.00
---------------------
Class A Monthly Interest 200,610,733.07
Class A1 (Actual Number Days/360) 0.00
Class A2 198,716.45
Class A3 370,516.11
Class A4 595,956.85
---------------------
Class A Monthly Principal
Class A1 0.00
Class A2 4,321,002.49
Class A3 0.00
Class A4 0.00
---------------------
4,321,002.49
Ending Principal Balance of the Class A Notes
Class A1 0.00
Class A2 32,140,730.58
Class A3 65,098,000.00
Class A4 99,051,000.00
--------------------- ---------------------
196,289,730.58
=====================
<CAPTION>
Class A2
--------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $42,182,000 Original Face $42,182,000 Balance Factor
$ 4.710930 $ 102.437117 76.195369%
--------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 13, 2000
<TABLE>
<CAPTION>
V. CLASS B NOTE PRINCIPAL BALANCE
<S> <C> <C>
Beginning Principal Balance of the Class B Notes
Pool A 2,685,302.81
Pool B 734,550.60
--------------------
3,419,853.41
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 16,335.59
Class B Monthly Interest - Pool B 4,468.52
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 55,894.62
Class B Monthly Principal - Pool B 17,758.84
--------------------
73,653.46
Ending Principal Balance of the Class B Notes
Pool A 2,629,408.19
Pool B 716,791.76
--------------------- ---------------------
3,346,199.95
=====================
<CAPTION>
--------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,054,000 Original Face $4,054,000 Balance Factor
$ 5.131749 $ 18.168096 82.540699%
--------------------------------------------------------------------------------
<CAPTION>
VI. CLASS C NOTE PRINCIPAL BALANCE
<S> <C> <C>
Beginning Principal Balance of the Class C Notes
Pool A 5,369,824.60
Pool B 1,468,882.21
---------------------
6,838,706.81
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 33,471.91
Class C Monthly Interest - Pool B 9,156.03
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 111,789.23
Class C Monthly Principal - Pool B 35,517.67
---------------------
147,306.90
Ending Principal Balance of the Class C Notes
Pool A 5,258,035.37
Pool B 1,433,364.54
--------------------- ---------------------
6,691,399.91
=====================
<CAPTION>
--------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $8,107,000 Original Face $8,107,000 Balance Factor
$ 5.258165 $ 18.170334 82.538546%
--------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 13, 2000
<TABLE>
<CAPTION>
VII. CLASS D NOTE PRINCIPAL BALANCE
<S> <C> <C>
Beginning Principal Balance of the Class D Notes
Pool A 3,580,143.40
Pool B 979,327.81
--------------------
4,559,471.21
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 24,613.49
Class D Monthly Interest - Pool B 6,732.88
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 74,526.15
Class D Monthly Principal - Pool B 23,678.45
--------------------
98,204.60
Ending Principal Balance of the Class D Notes
Pool A 3,505,617.25
Pool B 955,649.36
--------------------- ---------------------
4,461,266.61
=====================
<CAPTION>
--------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $5,405,000 Original Face $5,405,000 Balance Factor
$ 5.799513 $ 18.169214 82.539623%
--------------------------------------------------------------------------------
<CAPTION>
VIII. CLASS E NOTE PRINCIPAL BALANCE
<S> <C> <C>
Beginning Principal Balance of the Class E Notes
Pool A 4,474,984.01
Pool B 1,224,105.00
--------------------
5,699,089.01
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 40,461.31
Class E Monthly Interest - Pool B 11,067.95
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 93,157.69
Class E Monthly Principal - Pool B 29,598.06
--------------------
122,755.75
Ending Principal Balance of the Class E Notes
Pool A 4,381,826.32
Pool B 1,194,506.94
--------------------- ---------------------
5,576,333.26
=====================
<CAPTION>
--------------------------------------------------------------------------------
<S> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $6,756,000 Original Face $6,756,000 Balance Factor
$ 7.627185 $ 18.169886 82.538977%
--------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 13, 2000
<TABLE>
<CAPTION>
IX. ISSUERS RESIDUAL PRINCIPAL BALANCE
<S> <C> <C>
Beginning Residual Principal Balance
Pool A 5,370,390.60
Pool B 1,469,040.91
---------------------
6,839,431.51
Residual Interest - Pool A 65,703.42
Residual Interest - Pool B 17,972.78
Residual Principal - Pool A 111,789.23
Residual Principal - Pool B 35,517.67
---------------------
147,306.90
Ending Residual Principal Balance
Pool A 5,258,601.37
Pool B 1,433,523.24
--------------------- ---------------------
6,692,124.61
=====================
X. PAYMENT TO SERVICER
- Collection period Servicer Fee 85,487.73
- Servicer Advances reimbursement 288,586.05
- Tax, Maintenance, Late Charges, Bank Interest
and other amounts 166,324.91
---------------------
Total amounts due to Servicer 540,398.69
=====================
</TABLE>
<PAGE> 6
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 13, 2000
<TABLE>
<CAPTION>
XI. AGGREGATE DISCOUNTED CONTRACT BALANCE
<S> <C> <C>
POOL A
Aggregate Discounted Contract Balance, as defined in
Indenture Agreement, at the beginning of the related
Collection Period 179,002,269.22
Aggregate Discounted Contract Balance of Additional
Contracts acquired during Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 3,726,307.72
Aggregate Discounted Contract Balance, as defined in
Indenture Agreement, at the ending of the related -----------------
Collection Period 175,275,961.50
=================
Components of Decline in Aggregate Discounted Contract
Balance:
- Principal portion of Contract Payments and Servicer
Advances 3,073,613.43
- Principal portion of Prepayment Amounts 652,694.29
- 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 3,726,307.72
=================
POOL B
Aggregate Discounted Contract Balance, as defined in
Indenture Agreement, at the beginning of the related
Collection Period 48,965,015.76
Aggregate Discounted Contract Balance of Additional
Contracts acquired during Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 1,183,922.38
Aggregate Discounted Contract Balance, as defined in
Indenture Agreement, at the ending of the related -----------------
Collection Period 47,781,093.38
=================
Components of Decline in Aggregate Discounted Contract
Balance:
- Principal portion of Contract Payments and Servicer
Advances 1,040,728.27
- Principal portion of Prepayment Amounts 143,194.11
- 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 1,183,922.38
=================
AGGREGATE DISCOUNTED CONTRACT BALANCE AT THE END OF THE -----------------
RELATED COLLECTION PERIOD 223,057,054.88
=================
</TABLE>
<PAGE> 7
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 13, 2000
<TABLE>
<CAPTION>
XIV. CUMULATIVE DETAIL OF SUBSTITUTED CONTRACTS - PREPAYMENTS
POOL A 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 A AT CLOSING DATE $211,061,551.13
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 $59,182,173.57
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 X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 13, 2000
<TABLE>
<CAPTION>
XIV. 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
------------------------------------------------------- -------------------- ------------ -----------------
<S> <C> <C> <C>
None
-------------------- -----------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL NON-PERFORMING CONTRACTS $0.00
b) ADCB OF POOL A AT CLOSING DATE $211,061,551.13
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 $59,182,173.57
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 X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE SEPTEMBER 13, 2000
XV. POOL PERFORMANCE MEASUREMENTS
<TABLE>
<CAPTION>
1. AGGREGATE DISCOUNTED CONTRACT BALANCE
CONTRACTS DELINQUENT > 90 DAYS TOTAL OUTSTANDING CONTRACTS
<S> <C> <C> <C>
This Month 574,840.46 This Month 223,057,054.88
1 Month Prior 653,418.41 1 Month Prior 227,967,284.98
2 Months Prior 1,095,970.61 2 Months Prior 233,412,184.36
Total 2,324,229.48 Total 684,436,524.22
a) 3 Month Average 774,743.16 b) 3 Month Average 228,145,508.07
c) a/b 0.34%
</TABLE>
<TABLE>
<S> <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>
31 - 60 14,927,736.86 48
61 - 90 1,882,455.64 6
91 - 180 574,840.46 12
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
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