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Previous: DVI RECEIVABLES CORP VIII, 8-K, 2000-06-20 |
Next: DVI RECEIVABLES CORP VIII, 8-K, EX-99.2, 2000-06-20 |
<PAGE> 1
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE JUNE 13, 2000
<TABLE>
<S> <C>
I. RECONCILIATION OF COLLECTION ACCOUNT:
End of Period Collection Account Balance as of Prior Payment Date: 510,590.91
Available Funds:
Contract Payments due and received in this period 4,698,658.47
Contract Payments due in prior period(s) and received in this period 290,169.81
Contract Payments received in this period for next period 433,313.00
Sales, Use and Property Tax payments received 68,815.87
Prepayment Amounts related to early termination in this period 708,824.90
Servicer Advance 490,149.73
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 13,032.68
Interest earned on Collection Account 28,458.75
Interest earned on Affiliated Account 1,262.01
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 40,376.36
-------------
Total Available Funds 7,283,652.49
Less: Amounts to be Retained in Collection Account 758,005.68
-------------
AMOUNT TO BE DISTRIBUTED 6,525,646.81
=============
DISTRIBUTION OF FUNDS:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer Advances 290,169.81
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 4,443,823.51
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 89,558.14
c) Class C Principal and Interest 180,658.24
d) Class D Principal and Interest 122,379.29
e) Class E Principal and Interest 163,427.63
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) 80,334.96
b) Residual Principal (Provided no Restricting or Amortization Event in effect) 145,802.14
c) Reserve Account Distribution (Provided no Restricting or Amortization Event in effect) 13,032.68
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest Earned and Any Other Amounts 138,912.99
7. To Servicer, Servicing Fee and other Servicing Compensations 78,110.09
-------------
TOTAL FUNDS DISTRIBUTED 6,525,646.81
=============
-------------
End of Period Collection Account Balance {Includes Payments in Advance & Restricting Event Funds (if any)} 758,005.68
=============
II. RESERVE ACCOUNT
Beginning Balance $2,511,821.93
- Add Investment Earnings 13,032.68
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 13,032.68
-------------
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 JUNE 13, 2000
<TABLE>
<S> <C> <C>
III. CLASS A NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class A Notes
Pool A 149,850,918.44
Pool B 33,431,392.64
--------------
183,282,311.08
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 785,784.40
Class A Monthly Interest - Pool B 175,306.70
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 3,389,877.42
Class A Monthly Principal - Pool B 872,292.32
--------------
4,262,169.74
Ending Principal Balance of the Class A Notes
Pool A 146,461,041.02
Pool B 32,559,100.32
-------------- --------------
179,020,141.34
==============
</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>
$ 4.348435 $ 19.284091 80.997259%
-----------------------------------------------------------------------------------
</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 37,262,311.08
Class A3 62,400,000.00
Class A4 41,000,000.00
Class A5 42,620,000.00
--------------
Class A Monthly Interest 183,282,311.08
Class A1 (Actual Number Days/360) 0.00
Class A2 181,653.77
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 4,262,169.74
Class A3 0.00
Class A4 0.00
Class A5 0.00
--------------
4,262,169.74
Ending Principal Balance of the Class A2 Notes
Class A1 0.00
Class A2 33,000,141.34
Class A3 62,400,000.00
Class A4 41,000,000.00
Class A5 42,620,000.00
-------------- --------------
179,020,141.34
==============
</TABLE>
<TABLE>
<CAPTION>
Class A2
-----------------------------------------------------------------------------------
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>
$ 4.54134 $ 106.55424 82.500353%
-----------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE JUNE 13, 2000
V. CLASS B NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class B Notes
Pool A 2,554,715.83
Pool B 569,955.00
------------
3,124,670.83
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 13,816.75
Class B Monthly Interest - Pool B 3,082.51
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 57,788.57
Class B Monthly Principal - Pool B 14,870.31
------------
72,658.88
Ending Principal Balance of the Class B Notes
Pool A 2,496,927.26
Pool B 555,084.69
------------ ------------
3,052,011.95
============
</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>
$ 4.484942 $ 19.283142 80.998194%
------------------------------------------------------------------------------
</TABLE>
VI. CLASS C NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class C Notes
Pool A 5,110,232.42
Pool B 1,140,109.26
------------
6,250,341.68
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 28,894.11
Class C Monthly Interest - Pool B 6,446.37
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 115,577.14
Class C Monthly Principal - Pool B 29,740.62
------------
145,317.76
Ending Principal Balance of the Class C Notes
Pool A 4,994,655.28
Pool B 1,110,368.64
------------ ------------
6,105,023.92
============
</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>
$ 4.688932 $ 19.280584 81.000715%
------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE JUNE 13, 2000
VII. CLASS D NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class D Notes
Pool A 3,406,287.79
Pool B 759,939.98
------------
4,166,227.77
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 20,849.32
Class D Monthly Interest - Pool B 4,651.47
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 77,051.42
Class D Monthly Principal - Pool B 19,827.08
------------
96,878.50
Ending Principal Balance of the Class D Notes
Pool A 3,329,236.37
Pool B 740,112.90
------------ ------------
4,069,349.27
============
</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>
$ 5.075794 $ 19.283141 80.998194%
------------------------------------------------------------------------------
</TABLE>
VIII. CLASS E NOTE PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class E Notes
Pool A 4,259,461.23
Pool B 950,323.51
------------
5,209,784.74
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 34,608.12
Class E Monthly Interest - Pool B 7,721.38
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 96,314.28
Class E Monthly Principal - Pool B 24,783.85
------------
121,098.13
Ending Principal Balance of the Class E Notes
Pool A 4,163,146.95
Pool B 925,539.66
------------ ------------
5,088,686.61
============
</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>
$ 6.738220 $ 19.277003 81.004244%
----------------------------------------------------------------------------
</TABLE>
<PAGE> 5
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE JUNE 13, 2000
IX. ISSUERS RESIDUAL PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Residual Principal Balance
Pool A 5,118,514.22
Pool B 1,141,731.83
------------
6,260,246.05
Residual Interest - Pool A 65,682.48
Residual Interest - Pool B 14,652.48
Residual Principal - Pool A 115,962.39
Residual Principal - Pool B 29,839.75
------------
145,802.14
Ending Residual Principal Balance
Pool A 5,002,551.83
Pool B 1,111,892.08
------------ ------------
6,114,443.91
============
X. PAYMENT TO SERVICER
- Collection period Servicer Fee 78,110.09
- Servicer Advances reimbursement 290,169.81
- Tax, Maintenance, Late Charges, Bank
Interest and other amounts 138,912.99
------------
Total amounts due to Servicer 507,192.89
============
</TABLE>
<PAGE> 6
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE JUNE 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 170,300,129.95
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 3,852,571.22
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
==============
ending of the related Collection Period 166,447,558.73
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 3,147,909.48
- Principal portion of Prepayment Amounts 704,661.74
- 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 3,852,571.22
============
POOL B
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 37,993,452.25
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 991,353.93
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
==============
ending of the related Collection Period 37,002,098.32
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 991,353.93
- 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 991,353.93
============
--------------
AGGREGATE DISCOUNTED CONTRACT BALANCE AT THE END OF THE RELATED COLLECTION PERIOD 203,449,657.05
==============
</TABLE>
<PAGE> 7
DVI RECEIVABLES VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE JUNE 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>
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%
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 $50,047,123.17
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 VIII 1999-1
SERVICER REPORT
FOR THE PAYMENT DATE JUNE 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>
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%
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 $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
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 JUNE 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 5,384,210.88 This Month 203,449,657.05
1 Month Prior 3,925,585.25 1 Month Prior 208,293,582.20
2 Months Prior 4,954,632.17 2 Months Prior 213,028,709.58
Total 14,264,428.30 Total 624,771,948.83
a) 3 MONTH AVERAGE 4,754,809.43 b) 3 MONTH AVERAGE 208,257,316.28
c) a/b 2.28%
</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
---------------------- -----------
6. Aggregate Discounted Contract Balance at Closing Date Balance $251,182,193.26
------------------------
</TABLE>
<TABLE>
<CAPTION>
DELINQUENT LEASE SUMMARY
Days Past Due Current Pool Balance # Leases
------------- -------------------- --------
<S> <C> <C>
31 - 60 9,860,098.20 26
61 - 90 30,374.76 4
91 - 180 5,384,210.88 19
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
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