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Previous: DVI RECEIVABLES CORP VIII, 8-K, EX-99.1, 2000-12-19 |
Next: DVI RECEIVABLES CORP VIII, 8-K, EX-99.3, 2000-12-19 |
<PAGE> 1
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE DECEMBER 13, 2000
<TABLE>
<S> <C>
I. RECONCILIATION OF COLLECTION ACCOUNT:
End of Period Collection Account Balance as of Prior Payment Date: 701,604.58
Available Funds:
Contract Payments due and received in this period 4,717,086.25
Contract Payments due in prior period(s) and received in this period 325,887.67
Contract Payments received in this period for next period 107,936.08
Sales, Use and Property Tax, Maintenance, Late Charges 142,129.15
Prepayment Amounts related to early termination in this period 479,898.40
Servicer Advance 580,631.39
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 14,261.22
Interest earned on Collection Account 23,836.85
Interest earned on Affiliated Account 1,715.17
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 7,094,986.76
Less: Amounts to be Retained in Collection Account 513,366.47
-------------
AMOUNT TO BE DISTRIBUTED 6,581,620.29
=============
DISTRIBUTION OF FUNDS:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer Advances 325,887.67
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 4,252,977.27
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 89,783.69
c) Class C Principal and Interest 180,526.90
d) Class D Principal and Interest 123,107.27
e) Class E Principal and Interest 165,505.52
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) 74,545.75
b) Residual Principal (Provided no Restricting or Amortization Event in effect) 140,401.41
c) Reserve Account Distribution (Provided no Restricting or Amortization Event in effect) 14,261.22
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest Earned and Any Other Amounts 167,681.17
7. To Servicer, Servicing Fee and other Servicing Compensations 80,469.45
-------------
TOTAL FUNDS DISTRIBUTED 6,581,620.29
=============
-------------
End of Period Collection Account Balance {Includes Payments in Advance & Restricting Event Funds (if any)} 513,366.47
=============
II.RESERVE ACCOUNT
Beginning Balance $2,702,437.25
- Add Investment Earnings 14,261.22
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 14,261.22
-------------
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 DECEMBER 13, 2000
<TABLE>
<S> <C> <C>
III. CLASS A NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class A Notes
Pool A 148,666,937.64
Pool B 40,167,561.59
--------------
188,834,499.23
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 866,809.97
Class A Monthly Interest - Pool B 234,198.97
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 3,184,443.13
Class A Monthly Principal - Pool B 933,998.17
--------------
4,118,441.30
Ending Principal Balance of the Class A Notes
Pool A 145,482,494.51
Pool B 39,233,563.42
--------------
--------------
184,716,057.93
==============
</TABLE>
<TABLE>
-----------------------------------------------------------------------------------------------------------
<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
$ 4.629706 $ 17.317909 77.672491%
-----------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
IV. CLASS A NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class A Notes
Class A1 0.00
Class A2 24,685,499.23
Class A3 65,098,000.00
Class A4 99,051,000.00
-------------
Class A Monthly Interest 188,834,499.23
Class A1 (Actual Number Days/360) 0.00
Class A2 134,535.97
Class A3 370,516.12
Class A4 595,956.85
-------------
Class A Monthly Principal
Class A1 0.00
Class A2 4,118,441.30
Class A3 0.00
Class A4 0.00
-------------
4,118,441.30
Ending Principal Balance of the Class A Notes
Class A1 0.00
Class A2 20,567,057.93
Class A3 65,098,000.00
Class A4 99,051,000.00
-------------
--------------
184,716,057.93
==============
</TABLE>
<TABLE>
<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
$ 3.189417 $ 97.635041 48.757901%
-------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE DECEMBER 13, 2000
<TABLE>
<S> <C> <C>
V. CLASS B NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class B Notes
Pool A 2,534,370.65
Pool B 684,751.49
-------------
3,219,122.14
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 15,417.42
Class B Monthly Interest - Pool B 4,165.57
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 54,280.28
Class B Monthly Principal - Pool B 15,920.42
-------------
70,200.70
Ending Principal Balance of the Class B Notes
Pool A 2,480,090.37
Pool B 668,831.07
-------------
-------------
3,148,921.44
=============
</TABLE>
<TABLE>
-------------------------------------------------------------------------------------------------------------
<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
$ 4.830535 $ 17.316404 77.674431%
-------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
VI. CLASS C NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class C Notes
Pool A 5,067,960.30
Pool B 1,369,284.00
------------
6,437,244.30
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 31,590.29
Class C Monthly Interest - Pool B 8,535.20
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 108,560.56
Class C Monthly Principal - Pool B 31,840.85
------------
140,401.41
Ending Principal Balance of the Class C Notes
Pool A 4,959,399.74
Pool B 1,337,443.15
------------
------------
6,296,842.89
============
</TABLE>
<TABLE>
------------------------------------------------------------------------------------------------------------
<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
$ 4.949487 $ 17.318541 77.671677%
------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE DECEMBER 13, 2000
<TABLE>
<S> <C> <C>
VII. CLASS D NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class D Notes
Pool A 3,378,900.53
Pool B 912,929.00
------------
4,291,829.53
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 23,229.94
Class D Monthly Interest - Pool B 6,276.39
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 72,373.71
Class D Monthly Principal - Pool B 21,227.23
------------
93,600.94
Ending Principal Balance of the Class D Notes
Pool A 3,306,526.82
Pool B 891,701.77
------------
------------
4,198,228.59
============
</TABLE>
<TABLE>
---------------------------------------------------------------------------------------------------
<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
$ 5.459080 $ 17.317473 77.673054%
---------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
VIII. CLASS E NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class E Notes
Pool A 4,223,430.43
Pool B 1,141,106.48
-------------
5,364,536.91
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 38,186.85
Class E Monthly Interest - Pool B 10,317.50
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 90,467.13
Class E Monthly Principal - Pool B 26,534.04
-------------
117,001.17
Ending Principal Balance of the Class E Notes
Pool A 4,132,963.30
Pool B 1,114,572.44
-------------
-------------
5,247,535.74
=============
</TABLE>
<TABLE>
<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
$ 7.179448 $ 17.318113 77.672228%
------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE DECEMBER 13, 2000
IX. ISSUERS RESIDUAL PRINCIPAL BALANCE
<TABLE>
<S> <C> <C>
Beginning Residual Principal Balance
Pool A 5,068,526.30
Pool B 1,369,442.70
-------------
6,437,969.00
Residual Interest - Pool A 58,688.95
Residual Interest - Pool B 15,856.80
Residual Principal - Pool A 108,560.56
Residual Principal - Pool B 31,840.85
-------------
140,401.41
Ending Residual Principal Balance
Pool A 4,959,965.74
Pool B 1,337,601.85
-------------
------------
6,297,567.59
============
</TABLE>
X. PAYMENT TO SERVICER
<TABLE>
<S> <C>
- Collection period Servicer Fee 80,469.45
- Servicer Advances reimbursement 325,887.67
- Tax, Maintenance, Late Charges, Bank Interest and other amounts 167,681.17
------------
Total amounts due to Servicer 574,038.29
============
</TABLE>
<PAGE> 6
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE DECEMBER 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 168,940,125.86
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 3,618,685.37
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the ----------------
ending of the related Collection Period 165,321,440.49
================
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 3,124,596.15
- Principal portion of Prepayment Amounts 494,089.22
- 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 3,618,685.37
=============
POOL B
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 45,645,075.22
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 1,061,361.56
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the ----------------
ending of the related Collection Period 44,583,713.66
================
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 1,061,361.56
- 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 1,061,361.56
=============
----------------
AGGREGATE DISCOUNTED CONTRACT BALANCE AT THE END OF THE RELATED COLLECTION PERIOD 209,905,154.15
================
</TABLE>
<PAGE> 7
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE DECEMBER 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>
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
</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> <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
</TABLE>
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD
YES [ ] NO [X]
<PAGE> 8
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE DECEMBER 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> <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
</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> <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
</TABLE>
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD
YES [ ] NO [X]
<PAGE> 9
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE DECEMBER 13, 2000
XV. POOL PERFORMANCE MEASUREMENTS
1. AGGREGATE DISCOUNTED CONTRACT BALANCE
<TABLE>
<S> <C> <C> <C>
CONTRACTS DELINQUENT > 90 DAYS TOTAL OUTSTANDING CONTRACTS
This Month 2,152,253.13 This Month 209,905,154.15
1 Month Prior 2,608,325.07 1 Month Prior 214,585,201.08
2 Months Prior 487,229.58 2 Months Prior 218,778,592.32
Total 5,247,807.78 Total 643,268,947.55
a) 3 MONTH AVERAGE 1,749,269.26 b) 3 MONTH AVERAGE 214,422,982.52
c) a/b 0.82%
</TABLE>
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
DELINQUENT LEASE SUMMARY
<TABLE>
<CAPTION>
Days Past Due Current Pool Balance # Leases
<S> <C> <C>
31 - 60 8,822,648.05 36
61 - 90 2,147,751.32 13
91 - 180 2,152,253.13 12
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
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