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Previous: RUDOLPH TECHNOLOGIES INC, DEF 14A, 2000-04-20 |
Next: CONSECO FINANCE SECURITIZATIONS CORP, 8-K, 2000-04-20 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):April 17, 2000
HOME EQUITY LOAN TRUST 2000-B
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Minnesota 33-55853 Applied for
- --------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employer
of incorporation) file numbers) identification no.)
1100 Landmark Towers, 345 St. Peter Street, Saint Paul, Minnesota 55102-1639
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (651) 293-3400
--------------
Not Applicable
(Former name or former address, if changed since last report.)
<PAGE>
Item 5. Other Events.
Pursuant to the Pooling and Servicing Agreement between Conseco
Finance Corp. (the "Servicer") and U S Bank Trust (N.A.) (the
"Trustee"), on April 17, 2000, the Trustee made distributions to the
holders of the certificates representing interests in the Trust (the
"Certificateholders") and delivered to the Certificateholders the
Monthly Report required by Section 6.05 of the Pooling and Servicing
Agreement attached hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
The following is filed herewith. The exhibit number corresponds
with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99.1 Monthly Report delivered to
Certificateholders on
April 17, 2000.
<PAGE>
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: April 17, 2000
HOME EQUITY LOAN TRUST 2000-B
By CONSECO FINANCE CORP.
as Servicer with respect to the Trust
By: /s/ Phyllis A. Knight
-------------------------------------
Phyllis A. Knight
Senior Vice President and Treasurer
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Page
- ------- ----
99.1 Monthly Report delivered to Certificateholders 5
on April 17, 2000.
<PAGE>
EXHIBIT 99.1
CONSECO FINANCE CORP.
CERTIFICATE REGARDING REPURCHASED CONTRACTS
The undersigned certifies that she is Senior Vice President and Treasurer of
Conseco Finance Corp., a Minnesota corporation (the "Company"), and that as such
he is duly authorized to execute and deliver this certificate on behalf of the
Company pursuant to Section 6.02 of the Pooling and Servicing Agreement (the
"Agreement") dated as of February 1, 2000 between the Company and U S Bank Trust
National Association, as Trustee of Home Equity Loan Trust 2000-B (all
capitalized terms used herein without definition having the respective meanings
specified in the Agreement), and further certifies that:
1. The contracts on the attached schedule are to be repurchased by the Company
on the date hereof pursuant to Sections 3.05 of the Agreement.
2. Upon deposit of the Repurchase Price for such Contracts, such Contracts
may, pursuant to Section 8.06 of the Agreement, be assigned by the Trustee
to the Company.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 12th day of April,
2000.
CONSECO FINANCE CORP.
BY: /s/ Phyllis A. Knight
------------------------------------
Phyllis A. Knight
Senior Vice President and
Treasurer
<PAGE>
CONSECO FINANCE CORP.
CERTIFICATE OF SERVICING OFFICER
The undersigned certifies that she is Senior Vice President and Treasurer of
Conseco Finance Corp., a Minnesota corporation (the "Company"), and that as such
he is duly authorized to execute and deliver this certificate on behalf of the
Company pursuant to Section 6.02 of the Pooling and Servicing Agreement (the
"Agreement") dated as of February 1, 2000 between the Company and U S Bank Trust
(N.A), as Trustee of Home Equity Loan Trust 2000-B (all capitalized terms used
herein without definition having the respective meanings specified in the
Agreement), and further certifies that:
1. The Monthly Report for the period from March 1, 2000 to March 31, 2000
attached to this certificate is complete and accurate in accordance with
the requirements of Sections 6.01 and 6.02 of the Agreement; and
2. As of the date hereof, no Event of Termination or event that with notice or
lapse of time or both would become an Event of Termination has occurred.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 12th day of April,
2000.
CONSECO FINANCE CORP.
BY: /s/ Phyllis A. Knight
------------------------------------
Phyllis A. Knight
Senior Vice President and
Treasurer
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-B
MONTHLY REPORT March 2000
Distribution Date: 4/17/00
CUSIP# 20846Q BZ0 CA4
CB2 CC0 CD8 CE6
CF3 CG1 CH9 CJ5
Trust Account: 33380910
<TABLE>
<CAPTION>
<S> <C> <C>
1. Amount Available (including Monthly Servicing Fee and including $26,332,552.63
--------------
Prepayment Charges ($__________))
2. Formula Principal Distribution Amount:
(a) Scheduled Principal $ 927,987.73
-------------
(b) Principal Prepayments 3,795,918.52
-------------
(c) Substituted Loans 591,788.69
-------------
(d) Repurchases 114,550.00
-------------
(e) Previously undistributed (a)-(d) amounts 0.00
-------------
(e) Pre-Funded, if any
(only on Post-Funding Payment Date) 0.00
-------------
Total Principal $ 5,430,244.94
--------------
3. Libor 6.00375%
--------------
4. Available Funds Pass-Through Rate 6.00375%
--------------
Class AF Certificates
- ---------------------
Interest
5. Aggregate Current Interest
(a) Class AF-1 Pass-through Rate 6.94%
-----
(b) Class AF-1 Interest $ 1,116,437.80
--------------
(c) Class AF-2 Pass-through Rate 7.34%
-----
(d) Class AF-2 Interest $ 683,170.50
--------------
(e) Class AF-3 Pass-through Rate 7.52%
-----
(f) Class AF-3 Interest $ 302,943.20
--------------
(g) Class AF-4 Pass-through Rate 7.87%
-----
(h) Class AF-4 Interest $ 191,319.70
--------------
(i ) Class AF-5 Pass-through Rate 8.15%
-----
(j) Class AF-5 Interest $ 307,336.50
--------------
(k) Class AF-6 Pass-through Rate 7.80%
-----
(l) Class AF-6 Interest $ 380,250.00
--------------
6. Amount applied to Unpaid Class AF Interest Shortfall $ 0.00
--------------
7. Remaining Unpaid Class AF Interest Shortfall $ 0.00
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-B
MONTHLY REPORT March 2000
PAGE 2
Distribution Date: 4/17/00
CUSIP# 20846Q BZ0 CA4
CB2 CC0 CD8 CE6
CF3 CG1 CH9 CJ5
Trust Account: 33380910
<TABLE>
<CAPTION>
<S> <C> <C>
Class MF-1 Certificates
- -----------------------
8. Amount Available less all preceding distributions and less
Prepayment Charges $23,351,094.93
--------------
Interest on Class MF-1 Adjusted Principal Balance
9. Class MF-1 Adjusted Principal Balance $59,300,000.00
--------------
10. Current Interest
(a) Class MF-1 Pass-through Rate 8.14%
-----
(b) Class MF-1 Interest $ 241,351.00
--------------
11. Amount applied to Unpaid Class MF-1 Interest Shortfall $ 0.00
--------------
12. Remaining Unpaid Class MF-1 Interest Shortfall $ 0.00
--------------
Class MF-2 Certificates
- -----------------------
13. Amount Available less all preceding distributions and less
Prepayment Charges $23,109,743.93
--------------
Interest on Class MF-2 Adjusted Principal Balance
14. Class MF-2 Adjusted Principal Balance $50,500,000.00
--------------
15. Current Interest
(a) Class MF-2 Pass-through Rate 8.62%
-----
(b) Class MF-2 Interest $ 217,655.00
--------------
16. Amount applied to Unpaid Class MF-2 Interest Shortfall $ 0.00
--------------
17. Remaining Unpaid Class MF-2 Interest Shortfall $ 0.00
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-B
MONTHLY REPORT March 2000
PAGE 3
Distribution Date: 4/17/00
CUSIP# 20846Q BZ0 CA4
CB2 CC0 CD8 CE6
CF3 CG1 CH9 CJ5
Trust Account: 33380910
<TABLE>
<CAPTION>
<S> <C> <C>
Class BF-1 Certificates
- -----------------------
18. Amount Available less all preceding distributions and less
Prepayment Charges $22,892,088.93
--------------
Interest on Class BF-1 Adjusted Principal Balance
19. Class BF-1 Adjusted Principal Balance $30,200,000.00
--------------
20. Current Interest
(a) Class BF-1 Pass-through Rate 9.44%
-----
(or the Weighted Average Loan Rate, if less)
(b) Class BF-1 Interest $ 142,544.00
--------------
21. Amount applied to Unpaid Class BF-1 Interest Shortfall $ 0.00
--------------
22. Remaining Unpaid Class BF-1 Interest Shortfall $ 0.00
--------------
Class P Certificates
23. Prepayment Charges $ 0.00
--------------
(All prepayment premiums, penalties, and similar charges paid in connection
with, and as a condition to, prepayment in part or in full of a Loan)
Trigger Event
24. (a) Average Sixty-Day Deliquency Ratio Test
(i) Sixty-Day Delinquency Ratio for current Payment Date 0.15%
--------------
(ii) Average Sixty-Day Delinquency Ratio Test (arithmetic average of ratios
for this month and two preceding months may not exceed 42.5% of the
Senior Enhancement Percentage) 0.05%
--------------
(b) Cumulative Realized Losses Test
(i) Cumulative Realized Losses for current Payment Date $ 0.00
--------------
(ii) Cumulative Realized Loss Ratio (Losses as a percentage of Cut-off Date
Principal Balances of Loans may not exceed 4.40% from April 1, 2003
to March 31, 2004, 5.23% from April 1, 2004 to March 31, 2005, 5.5%
from April 1, 2005 to March 31, 2007, and 6.00% thereafter) 0.00%
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-B
MONTHLY REPORT March 2000
PAGE 4
Distribution Date: 4/17/00
CUSIP# 20846Q BZ0 CA4
CB2 CC0 CD8 CE6
CF3 CG1 CH9 CJ5
Trust Account: 33380910
<TABLE>
<CAPTION>
<S> <C> <C>
25. Senior Enhancement Percentage
A fraction, expressed as a percentage: 19.10373798%
---------------
(a) the numerator of which is the excess of (A) the Pool
Scheduled Principal Balance over (B) the Principal Balance
of the most senior class of Certificates outstanding $190,000,000.00
---------------
(b) the denominator of which is the Pool Scheduled Principal Balance $994,569,755.06
---------------
Class AF Certificates
26. Amount Available less all preceding distributions $ 22,749,544.93
---------------
Principal
27. Class AF-6 Lockout Percentage for such Payment Date 0.00%
---------------
28. Class AF Principal Distribution:
(a) Class AF-6 Lockout Pro Rata Distribution Amount $ 0.00
---------------
(b) the Class AF Formula Principal Distribution Amount
(i) Class AF-1 $ 5,430,244.94
---------------
(ii) Class AF-2 $ 0.00
---------------
(iii) Class AF-3 $ 0.00
---------------
(iv) Class AF-4 $ 0.00
---------------
(v) Class AF-5 $ 0.00
---------------
(vi) Class AF-6 $ 0.00
---------------
29. Class AF Principal Balance:
(a) Class AF-1 Principal Balance $316,309,755.06
---------------
(b) Class AF-2 Principal Balance $186,150,000.00
---------------
(c) Class AF-3 Principal Balance $ 80,570,000.00
---------------
(d) Class AF-4 Principal Balance $ 48,620,000.00
---------------
(e) Class AF-5 Principal Balance $ 75,420,000.00
---------------
(f) Class AF-6 Principal Balance $ 97,500,000.00
---------------
30. Amount, if any, by which Class AF Formula Principal Distribution Amount
exceeds amounts distributed pursuant to item (28) $ 0.00
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-B
MONTHLY REPORT March 2000
PAGE 5
Distribution Date: 4/17/00
CUSIP# 20846Q BZ0 CA4
CB2 CC0 CD8 CE6
CF3 CG1 CH9 CJ5
Trust Account: 33380910
<TABLE>
<CAPTION>
<S> <C> <C>
Class MF-1 Certificates
- -----------------------
31. Amount available less all preceding distributions $17,319,299.99
--------------
Principal
32. Class MF-1 Principal Distribution $ 0.00
--------------
33. Class MF-1 Principal Balance $59,300,000.00
--------------
34. Amount, if any, by which Class MF-1 Formula Principal Distribution Amount
exceeds Class MF-1 Principal Distibution Amount $ 0.00
--------------
Class MF-2 Certificates
- -----------------------
35. Amount available less all preceding distributions $17,319,299.99
--------------
Principal
36. Class MF-2 Principal Distribution $ 0.00
--------------
37. Class MF-2 Principal Balance $50,500,000.00
--------------
38. Amount, if any, by which Class MF-2 Formula Principal Distribution Amount
exceeds Class MF-2 Principal Distibution Amount $ 0.00
--------------
Class BF-1 Certificates
- -----------------------
39. Amount available less all preceding distributions $17,319,299.99
--------------
Principal
40. Class BF-1 Principal Distribution $ 0.00
--------------
41. Class BF-1 Principal Balance $30,200,000.00
--------------
42. Amount, if any, by which Class BF-1 Formula Principal Distribution Amount
exceeds Class BF-1 Principal Distibution Amount $ 0.00
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-B
MONTHLY REPORT March 2000
PAGE 6
Distribution Date: 4/17/00
CUSIP# 20846Q BZ0 CA4
CB2 CC0 CD8 CE6
CF3 CG1 CH9 CJ5
Trust Account: 33380910
<TABLE>
<CAPTION>
<S> <C> <C>
Class MF-1 Certificates
- -----------------------
43. Amount Available less all preceding distributions $17,319,299.99
--------------
Liquidation Loss Interest
44. Amount applied to Class MF-1 Liquidation Loss Interest Amount $ 0.00
--------------
45. Class MF-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
46. Amount applied to Unpaid Class MF-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
47. Remaining Unpaid Class MF-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
Class MF-2 Certificates
- -----------------------
48. Amount Available less all preceding distributions $17,319,299.99
--------------
Liquidation Loss Interest
49. Amount applied to Class MF-2 Liquidation Loss Interest Amount $ 0.00
--------------
50. Class MF-2 Liquidation Loss Interest Shortfall $ 0.00
--------------
51. Amount applied to Unpaid Class MF-2 Liquidation Loss Interest Shortfall $ 0.00
--------------
52. Remaining Unpaid Class MF-2 Liquidation Loss Interest Shortfall $ 0.00
--------------
Class BF-1 Certificates
- -----------------------
53. Amount Available less all preceding distributions $17,319,299.99
--------------
Liquidation Loss Interest
54. Amount applied to Class BF-1 Liquidation Loss Interest Amount $ 0.00
--------------
55. Class BF-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
56. Amount applied to Unpaid Class BF-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
57. Remaining Unpaid Class BF-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-B
MONTHLY REPORT March 2000
PAGE 7
Distribution Date: 4/17/00
CUSIP# 20846Q BZ0 CA4
CB2 CC0 CD8 CE6
CF3 CG1 CH9 CJ5
Trust Account: 33380910
<TABLE>
<CAPTION>
<S> <C> <C>
Class BF-2 Certificates
- -----------------------
58. Amount Available less all preceding distributions $ 17,319,299.99
---------------
Interest
59. Current Interest
(a) Class BF-2 Pass-through Rate 10.00%
------
(or the Weighted Average Loan Rate, if less)
(b) Class BF-2 Interest $ 175,000.00
---------------
60. Amount applied to Unpaid Class BF-2 Interest Shortfall $ 0.00
---------------
61. Remaining Unpaid Class BF-2 Interest shortfall $ 0.00
---------------
Principal
62. Class BF-2 Principal Distribution $ 0.00
---------------
63. Amount, if any, by which Class BF-2 Formula Distribution Amount plus
Class BF-2 Liquidation Loss Principal Amount exceeds Class BF-2
Distribution Amount $ 0.00
---------------
64. Class BF-2 Guaranty Payment $ 0.00
---------------
65. Class BF-2 Principal Balance $ 35,000,000.00
---------------
Servicer
66. (a) Monthly Servicing Fee (if Originator or affiliate is Servicer) $ 416,666.67
---------------
(b) Reimbursement for unreimbursed Advances $ 0.00
---------------
Class AF, Class MF, and Class BF Certificates
- ---------------------------------------------
67. Pool Scheduled Principal Balance $994,569,755.06
---------------
Pool Certificate Balance 979,569,755.06
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-B
MONTHLY REPORT March 2000
PAGE 8
Distribution Date: 4/17/00
CUSIP# 20846Q BZ0 CA4
CB2 CC0 CD8 CE6
CF3 CG1 CH9 CJ5
Trust Account: 33380910
<TABLE>
<CAPTION>
<S> <C> <C>
68. Pool Factors
(a) Class AF-1 Pool Factor .98312226
--------------
(b) Class AF-2 Pool Factor 1.00000000
--------------
(c) Class AF-3 Pool Factor 1.00000000
--------------
(d) Class AF-4 Pool Factor 1.00000000
--------------
(e) Class AF-5 Pool Factor 1.00000000
--------------
(f) Class AF-6 Pool Factor 1.00000000
--------------
(g) Class MF-1 Pool Factor 1.00000000
--------------
(h) Class MF-2 Pool Factor 1.00000000
--------------
(i) Class BF-1 Pool Factor 1.00000000
--------------
(j) Class BF-2 Pool Factor 1.00000000
--------------
69. Loans Delinquent:
(a) 31-59 days 5,683,685.00 94
-------------------- ------------
(b) 60-89 days 945,089.00 19
-------------------- ------------
(c) 90 or more days 244,720.00 3
-------------------- ------------
70. Principal Balance of Defaulted Loans $ 324,841.50
--------------
71. Principal Balance of Loans with Extensions $ 0.00
--------------
72. Number of Liquidated Loans and Net Liquidated Loss
# 0 $ 0.00
------------ --------------
73. Number of Loans Remaining 16,522
--------------
74. Pre-Funded Amount $ 0.00
--------------
75. Reimbursement of Class C Certificateholder expenses $ 0.00
--------------
Guarantor
- ---------
76. Class BF-2 Guaranty Fee $ 2,500,000.00
--------------
Class P Certificates
- --------------------
77. Class P Principal Distribution $ 0.00
--------------
78. Class P Principal Balance $ 100.00
--------------
Class C Master Certificates
- ---------------------------
79. Class C Master Distribution Amount $14,227,633.32
--------------
</TABLE>
Please contact the Bondholder Relations Department of U.S. Bank Trust National
Association at (612) 224-0444 with any questions regarding this Statement or
your Distribution.
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