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Previous: OAKWOOD MORTGAGE INVESTORS INC OMI TRUST 1999-D, 8-K, 2000-03-21 |
Next: STARWOOD FINANCIAL INC, S-3, 2000-03-21 |
<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):March 15, 2000
HOME EQUITY LOAN TRUST 2000-A
(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 March 15, 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
March 15, 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: March 15, 2000
HOME EQUITY LOAN TRUST 2000-A
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 March 15, 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 September 1, 1999 between the Company and U S Bank
Trust National Association, as Trustee of Home Equity Loan Trust 2000-A (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 10th day of March,
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-A (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 February 1, 2000 to February 29,
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 10th day of March,
2000.
CONSECO FINANCE CORP.
BY: /s/ Phyllis A. Knight
------------------------------
Phyllis A. Knight
Senior Vice President and
Treasurer
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-A
MONTHLY REPORT February 2000
Distribution Date: 3/15/00
CUSIP# 20846Q BU1 BV9
BW7 BX5 BY3
Trust Account: 33380520
<TABLE>
<CAPTION>
<S> <C> <C>
1. Amount Available (including Monthly Servicing Fee and including $ 3,912,713.67
---------------
Prepayment Charges ($__________))
2. Formula Principal Distribution Amount:
(a) Scheduled Principal $ 231,529.36
---------------
(b) Principal Prepayments 432,415.37
---------------
(c) Liquidated Loans 88,800.00
---------------
(d) Repurchases 0.00
---------------
(e) Previously undistributed (a)-(d) amounts 0.00
---------------
(e) Pre-Funded Group I ARM Amount, if any
(Post-Funding Payment Date) 0.00
---------------
Total Principal $ 752,744.73
---------------
4. Libor 5.88500%
---------------
5. Available Funds Pass-Through Rate 5.88500%
---------------
Class A Certificates
- --------------------
Interest
6. Aggregate Current Interest
(a) Class AV Pass-through Rate 6.16000%
--------
(a floating rate per annum equal to the lesser of (a) LIBOR
plus .28%, or (b) the Available Funds Pass-Through Rate, but
in no case more than 14.0%)
(b) Class AV-1 Interest $ 811,580.00
---------------
7. Amount applied to Unpaid Class AV Interest Shortfall $ 0.00
---------------
8. Remaining Unpaid Class AV Interest Shortfall $ 0.00
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-A
MONTHLY REPORT February 2000
PAGE 2
Distribution Date: 3/15/00
CUSIP# 20846Q BU1 BV9
BW7 BX5 BY3
Trust Account: 33380520
<TABLE>
<CAPTION>
<S> <C> <C>
Class MV-1 Certificates
- -----------------------
9. Amount Available less all preceding distributions and less
Prepayment Charges $ 3,101,133.67
---------------
Interest on Class MV-1 Adjusted Principal Balance
10. Class MV-1 Adjusted Principal Balance $ 17,250,000.00
---------------
11. Current Interest
(a) Class MV-1 Pass-through Rate 6.38%
-----
(a floating rate per annum equal to the lesser of (a) LIBOR
plus .50%, or (b) the Available Funds Pass-Through Rate, but
in no case more than 14.0%)
(b) Class MV-1 Interest $ 61,141.67
---------------
12. Amount applied to Unpaid Class MV-1 Interest Shortfall $ 0.00
---------------
13. Remaining Unpaid Class MV-1 Interest Shortfall $ 0.00
---------------
Class MV-2 Certificates
- -----------------------
14. Amount Available less all preceding distributions and less
Prepayment Charges $ 3,039,992.00
---------------
Interest on Class MV-2 Adjusted Principal Balance
15. Class MV-2 Adjusted Principal Balance $ 18,000,000.00
---------------
16. Current Interest
(a) Class MV-2 Pass-through Rate 6.83%
-----
(a floating rate equal to the Adjusted Weighted
Average Loan Rate, but in no event greater than 95%)
(b) Class MV-2 Interest $ 68,300.00
---------------
17. Amount applied to Unpaid Class MV-2 Interest Shortfall $ 0.00
---------------
18. Remaining Unpaid Class MV-2 Interest Shortfall $ 0.00
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-A
MONTHLY REPORT February 2000
PAGE 3
Distribution Date: 3/15/00
CUSIP# 20846Q BU1 BV9
BW7 BX5 BY3
Trust Account: 33380520
<TABLE>
<CAPTION>
<S> <C> <C>
Class BV-1 Certificates
- -----------------------
19. Amount Available less all preceding distributions and less
Prepayment Charges $ 2,971,692.00
--------------
Interest on Class BV-1 Adjusted Principal Balance
20. Class BV-1 Adjusted Principal Balance $ 9,300,000.00
--------------
21. Current Interest
(a) Class BV-1 Pass-through Rate 8.38%
-----
(a floating rate per annum equal to the lesser of (a) LIBOR
plus 2.50%, or (b) the Available Funds Pass-Through Rate, but
in no case more than 14.0%)
(b) Class BV-1 Interest $ 43,296.67
--------------
22. Amount applied to Unpaid Class BV-1 Interest Shortfall $ 0.00
--------------
23. Remaining Unpaid Class BV-1 Interest Shortfall $ 0.00
--------------
Class P Certificates
24. 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
25. (a) Average Sixty-Day Deliquency Ratio Test
(i) Sixty-Day Delinquency Ratio for current Payment Date 0.00%
--------------
(ii) Average Sixty-Day Delinquency Ratio Test (arithmetic average of ratios
for this month and two preceding months may not exceed % of the
Senior Enhancement Percentage for the Variable Rate Loans) 0.00%
--------------
(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 Variable Rate Loans may not exceed 4.20% from
March 1, 2003 to February 29, 2004, 4.99% from March 1, 2004 to
February 28, 2005, 5.25% from March 1, 2005 to February 28, 2007,
and 5.75% thereafter) 0.00%
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-A
MONTHLY REPORT February 2000
PAGE 4
Distribution Date: 3/15/00
CUSIP# 20846Q BU1 BV9
BW7 BX5 BY3
Trust Account: 33380520
<TABLE>
<CAPTION>
<S> <C> <C>
26. Senior Enhancement Percentage
A fraction, expressed as a percentage obtained by dividing: 21.00269890%
---------------
(i) the excess of
(A) the Pool Scheduled Principal Balance over
(B) the principal balance of the most senior class of
certificates outstanding, by, $ 62,850,000.00
---------------
(ii) the Pool Scheduled Principal Balance. $299,247,255.27
---------------
Class AV Certificates
- ---------------------
27. Amount Available less all preceding distributions $ 2,928,395.33
---------------
Principal
28. Class AV Principal Distribution:
(a) Class AV: Formula Principal Distribution Amount $ 752,744.73
---------------
29. Class AV Principal Balance $236,397,255.27
---------------
30. Amount, if any, by which Class AV-1 Formula Principal Distribution Amount
exceeds Class AV Principal Distibution Amount $ 0.00
---------------
Class MV-1 Certificates
- -----------------------
31. Amount available less all preceding distributions $ 2,175,650.60
---------------
Principal
32. Class MV-1 Principal Distribution $ 0.00
---------------
33. Class MV-1 Principal Balance $ 17,250,000.00
---------------
34. Amount, if any, by which Class MV-1 Formula Principal Distribution Amount
exceeds Class MV-1 Principal Distibution Amount $ 0.00
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-A
MONTHLY REPORT February 2000
PAGE 5
Distribution Date: 3/15/00
CUSIP# 20846Q BU1 BV9
BW7 BX5 BY3
Trust Account: 33380520
<TABLE>
<CAPTION>
<S> <C> <C>
Class MV-2 Certificates
- -----------------------
35. Amount available less all preceding distributions $ 2,175,650.60
--------------
Principal
36. Class MV-2 Principal Distribution $ 0.00
--------------
37. Class MV-2 Principal Balance $18,000,000.00
--------------
38. Amount, if any, by which Class MV-2 Formula Principal Distribution Amount
exceeds Class MV-2 Principal Distibution Amount $ 0.00
--------------
Class BV-1 Certificates
- -----------------------
39. Amount available less all preceding distributions $ 2,175,650.60
--------------
Principal
40. Class BV-1 Principal Distribution $ 0.00
--------------
41. Class BV-1 Principal Balance $ 9,300,000.00
--------------
42. Amount, if any, by which Class BV-1 Formula Principal Distribution Amount
exceeds Class BV-1 Principal Distibution Amount $ 0.00
--------------
Class MV-1 Certificates
- -----------------------
43. Amount Available less all preceding distributions $ 2,175,650.60
--------------
Liquidation Loss Interest
44. Amount applied to Class MV-1 Liquidation Loss Interest Amount $ 0.00
--------------
45. Class MV-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
46. Amount applied to Unpaid Class MV-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
47. Remaining Unpaid Class MV-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-A
MONTHLY REPORT February 2000
PAGE 6
Distribution Date: 3/15/00
CUSIP# 20846Q BU1 BV9
BW7 BX5 BY3
Trust Account: 33380520
<TABLE>
<CAPTION>
<S> <C> <C>
Class MV-2 Certificates
- -----------------------
48. Amount Available less all preceding distributions $ 2,175,650.60
--------------
Liquidation Loss Interest
49. Amount applied to Class MV-2 Liquidation Loss Interest Amount $ 0.00
--------------
50. Class MV-2 Liquidation Loss Interest Shortfall $ 0.00
--------------
51. Amount applied to Unpaid Class MV-2 Liquidation Loss Interest Shortfall $ 0.00
--------------
52. Remaining Unpaid Class MV-2 Liquidation Loss Interest Shortfall $ 0.00
--------------
Class BV-1 Certificates
- -----------------------
53. Amount Available less all preceding distributions $ 2,175,650.60
--------------
Liquidation Loss Interest
54. Amount applied to Class BV-1 Liquidation Loss Interest Amount $ 0.00
--------------
55. Class BV-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
56. Amount applied to Unpaid Class BV-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
57. Remaining Unpaid Class BV-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
Class BV-2 Certificates
- -----------------------
58. Amount Available less all preceding distributions $ 2,175,650.60
--------------
Interest
59. Current Interest
(a) Class BV-2 Pass-through Rate 8.68%
-----
(floating rate per annum equal to the lesser of (a) LIBOR plus
2.80% or (b) the Available Funds Pass-Through Rate, but in no
event greater than 2.80%)
(b) Class BV-2 Interest $ 66,546.67
--------------
60. Amount applied to Unpaid Class BV-2 Interest Shortfall $ 0.00
--------------
61. Remaining Unpaid Class BV-2 Interest shortfall $ 0.00
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-A
MONTHLY REPORT February 2000
PAGE 7
Distribution Date: 3/15/00
CUSIP# 20846Q BU1 BV9
BW7 BX5 BY3
Trust Account: 33380520
<TABLE>
<CAPTION>
<S> <C> <C>
Principal
62. Class BV-2 Principal Distribution $ 0.00
--------------
63. Amount, if any, by which Class BV-2 Formula Distribution Amount plus
Class BV-2 Liquidation Loss Principal Amount exceeds Class B-2
Distribution Amount $ 0.00
--------------
64. Class BV-2 Guaranty Payment $ 0.00
--------------
65. Class BV-2 Principal Balance $13,800,000.00
--------------
Class AV-1 Certificates
- -----------------------
66. Amount Available less all preceding distributions $ 2,109,103.93
--------------
Available Funds Cap Carryover Amount
67. (a) Class AV-1 Available Funds Cap Carryover Amount $ 0.00
--------------
(b) Amount applied to Class AV-1 Available Funds Cap Carryover Amount $ 0.00
--------------
(c) Class AV-1 Available Funds Cap Carryover Amount remaining unpaid $ 0.00
--------------
Class MV-1 Certificates
- -----------------------
68. Amount Available less all preceding distributions $ 2,109,103.93
--------------
Available Funds Cap Carryover Amount
69. (a) Class MV-1 Available Funds Cap Carryover Amount $ 0.00
--------------
(b) Amount applied to Class MV-1 Available Funds Cap Carryover Amount $ 0.00
--------------
(c) Class MV-1 Available Funds Cap Carryover Amount remaining unpaid $ 0.00
--------------
Class MV-2 Certificates
- -----------------------
70. Amount Available less all preceding distributions $ 2,109,103.93
--------------
Available Funds Cap Carryover Amount
71. (a) Class MV-2 Available Funds Cap Carryover Amount $ 0.00
--------------
(b) Amount applied to Class MV-2 Available Funds Cap Carryover Amount $ 0.00
--------------
(c) Class MV-2 Available Funds Cap Carryover Amount remaining unpaid $ 0.00
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-A
MONTHLY REPORT February 2000
PAGE 8
Distribution Date: 3/15/00
CUSIP# 20846Q BU1 BV9
BW7 BX5 BY3
Trust Account: 33380520
--------------------------
<TABLE>
<CAPTION>
<S> <C> <C>
Class BV-1 Certificates
- -----------------------
72. Amount Available less all preceding distributions $ 2,109,103.93
---------------
Available Funds Cap Carryover Amount
73. (a) Class BV-1 Available Funds Cap Carryover Amount $ 0.00
---------------
(b) Amount applied to Class BV-1 Available Funds Cap Carryover Amount $ 0.00
---------------
(c) Class BV-1 Available Funds Cap Carryover Amount remaining unpaid $ 0.00
---------------
Servicer
74. (a) Monthly Servicing Fee (if Originator or affiliate is Servicer) $ 125,000.00
---------------
(b) Reimbursement for unreimbursed Advances $ 0.00
---------------
Class A, Class M, and Class B Certificates
- ------------------------------------------
75. Pool Scheduled Principal Balance $299,247,255.27
---------------
Pool Certificate Balance $294,747,255.27
---------------
76. Pool Factors
(a) Class AV Pool Factor .99682587
---------------
(b) Class MV-1 Pool Factor 1.00000000
---------------
(c) Class MV-2 Pool Factor 1.00000000
---------------
(d) Class BV-1 Pool Factor 1.00000000
---------------
(e) Class BV-2 Pool Factor 1.00000000
---------------
77. Loans Delinquent:
(a) 31-59 days 915,631.00 7
------------------- ------------
(b) 60-89 days 0.00 0
------------------- ------------
(c) 90 or more days 0.00 0
------------------- ------------
78. Principal Balance of Defaulted Loans $ 0.00
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 2000-A
MONTHLY REPORT February 2000
PAGE 9
Distribution Date: 3/15/00
CUSIP# 20846Q BU1 BV9
BW7 BX5 BY3
Trust Account: 33380520
<TABLE>
<CAPTION>
<S> <C> <C>
79. Number of Liquidated Loans and Net Liquidated Loss
# 0 $ 0.00
--------------- --------------
80. Number of Loans Remaining 2,335
--------------
81. Pre-Funded $15,404,203.98
--------------
82. Reimbursement of Class C Certificateholder expenses $ 0.00
--------------
Guarantor
- ---------
83. Class B-2 Guaranty Fee $ 750,000.00
--------------
Class P Certificates
- --------------------
84. Class P Principal Distribution $ 0.00
--------------
85. Class P Principal Balance $ 100.00
--------------
Class C Master Certificates
- ---------------------------
86. Class C Master Distribution Amount $ 1,234,103.93
--------------
</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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