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 25, 2000
RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC. (as depositor under a Trust Agreement,
dated as of February 28, 2000, and pursuant to which an Indenture was entered
into, providing for, inter alia, the issuance of GMACM Home Equity Loan-Backed
Term Notes, Series 2000-HE1)
Residential Asset Mortgage Products, Inc.
- -------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 333-91561 41-1955181
- ----------------------- --------------------- ---------------------
(State or other jurisdiction (Commission (I.R.S. employer
of incorporation) file number) identification no.)
8400 Normandale Lake Boulevard, Suite 600, Minneapolis, Minnesota 55437
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(Address of principal executive offices) (Zip code)
(612) 832-7000
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Registrant's telephone number, including area code
Not Applicable
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(Former name or former address, if changed since last report)
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Exhibit Index Located on Page 4
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Items 1 through 6 and Item 8 are not included because they are not applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
------------------------------------------------------------------
(a) Not applicable
(b) Not applicable
(c) Exhibits:
20.1 Residential Asset Mortgage Products, Inc.
GMACM Home Equity Loan Trust 2000-HE1
GMACM Home Equity Loan-Backed Term Notes, GMACM Series
2000-HE1 Group 1, Group 2 and Group 3 Servicing Certificates,
each for Payment Date 4/25/00.
<PAGE>
SIGNATURES
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.
RESIDENTIAL ASSET MORTGAGE
PRODUCTS, INC., Registrant
By: /s/ Patricia C. Taylor
----------------------
Name: Patricia C. Taylor
Title: Vice President
Date: May 5, 2000
<PAGE>
20.1 Residential Asset Mortgage Products, Inc.,
GMACM Home Equity Loan Trust 2000-HE1,
GMACM Home Equity Loan-Backed Term Notes, GMACM Series
2000-HE1 Group 1, Group 2 and Group 3 Servicing Certificates,
each for Payment Date 4/25/00.
Home Equity Loan-Backed Term Notes, GMACM Series 2000-HE1 Group 1
Payment Date 4/25/00
Servicing Certificate
- ---------------------
Beginning Pool Balance 171,428,361.72
Beginning PFA 53,571,638.28
Ending Pool Balance 227,612,134.70
Ending PFA Balance -
Principal Collections 10,953,956.72
Principal Draws 10,687,058.99
Net Principal Collections -
Active Loan Count 9,337
Interest Collections 1,367,967.96
Weighted Average Net Loan Rate 8.61579%
Substitution Adjustment Amount 0.00
Note Rate 6.37500%
Term Notes Amount Factor
- ---------- ------ ------
Beginning Balance 225,000,000.00 1.0000000
Ending Balance 225,000,000.00 1.0000000
Principal - 0.0000000
Interest 1,155,468.75 5.1354167
Interest Shortfall 0.00 0.0000000
Security Percentage 100.00%
Variable Funding Notes Amount
- ---------------------- ------
Beginning Balance 0.00
Ending Balance 0.00
Principal 0.00
Interest 0.00
Interest Shortfall 0.00
Security Percentage 0.00%
Certificates 0.00
Beginning Overcollateralization Amount 147,717.16
Overcollateralization Amount Increase (Decrease) 2,612,134.70
Outstanding Overcollateralization Amount 2,759,851.86
Target Overcollateralization Amount 3,937,500.00
Credit Enhancement Draw Amount 0.00
Unreimbursed Prior Draws 0.00
<PAGE>
Number Percent
Balance of Loans of Balance
------- -------- ----------
Delinquent Loans (30 Days) 1,081,469.76 36 0.48%
Delinquent Loans (60 Days) 298,850.45 7 0.13%
Delinquent Loans (90+ Days) (1) - 0 0.00%
Foreclosed Loans - 0 0.00%
REO 0.00 0 0.00%
(1) 90+ Figures Include Foreclosures and REO
Liquidation To-Date
Beginning Loss Amount 0.00
Current Month Loss Amount 0.00
Ending Loss Amount 0.00
Special Hazard Fraud Bankruptcy
Beginning Amount 0.00 0.00 0.00
Current Month Loss Amount 0.00 0.00 0.00
Ending Amount - - -
Liquidation Loss Distribution Amounts 0.00
Extraordinary Event Losses 0.00
Excess Loss Amounts 0.00
Capitalized Interest Account
- ----------------------------
Beginning Balance 158,806.91
Withdraw relating to Collection Period 158,806.91
Interest Earned (Zero, Paid to Funding Account) 0.00
----
Total Ending Capitalized Interest Account 0.00
Balance as of Payment Date
Interest earned for Collection Period 1,905.78
Interest withdrawn related to prior Collection Period 0.00
Funding Account
- ---------------
Beginning Funding Account Balance 147,717.16
Deposit to Funding Account 860,017.31
Payment for Additional Purchases (860,017.31)
Ending Funding Account Balance as of Payment Date 147,717.16
Interest earned for Collection Period 94.40
Interest withdrawn related to prior Collection Period -
Prefunding Account
- ------------------
Beginning Balance 53,571,638.28
Additional Purchases during Revolving Period (55,590,653.40)
Excess of Draws over Principal Collections 0.00
----
Total Ending Balance as of Payment Date 0.00
Interest earned for Collection Period 247,938.28
Interest withdrawn related to prior Collection Period 0.00
Reserve Account
- ---------------
Beginning Balance 0.00
Deposits to Reserve Account for current Payment Date 0.00
Withdrawals from Reserve Account for current Payment Date 0.00
----
<PAGE>
Total Ending Reserve Account Balance as of current
Payment Date 0.00
Interest earned for Collection Period 0.00
Interest withdrawn related to prior 0.00
Collection Period
<PAGE>
Home Equity Loan-Backed Term Notes, GMACM Series 2000-HE1 Group 2
Payment Date 4/25/00
Servicing Certificate
- ---------------------
Beginning Pool Balance 16,706,556.23
Beginning PFA 7,373,121.99
Ending Pool Balance 21,020,641.31
Ending PFA Balance 4,017,803.38
Principal Collections 1,724,302.88
Principal Draws 1,583,826.94
Net Principal Collections -
Active Loan Count 257
Interest Collections 121,535.77
Weighted Average Net Loan Rate 7.85670%
Substitution Adjustment Amount 0.00
Note Rate 6.40500%
Term Notes Amount Factor
- ---------- ------ ------
Beginning Balance 25,000,000.00 1.0000000
Ending Balance 25,000,000.00 1.0000000
Principal - 0.0000000
Interest 128,989.58 5.1595832
Interest Shortfall 0.00 0.0000000
Security Percentage 100.00%
Variable Funding Notes Amount
- ---------------------- ------
Beginning Balance 0.00
Ending Balance 0.00
Principal 0.00
Interest 0.00
Interest Shortfall 0.00
Security Percentage 0.00%
Certificates 0.00
Beginning Overcollateralization Amount 7,011.28
Overcollateralization Amount Increase (Decrease) 31,433.41
Outstanding Overcollateralization Amount 38,444.69
Overcollateralization Target Amount 437,500.00
Credit Enhancement Draw Amount 0.00
Unreimbursed Prior Draws 0.00
<PAGE>
Number Percent
Balance of Loans of Balance
------- -------- ----------
Delinquent Loans (30 Days) 100,541.00 1 0.48%
Delinquent Loans (60 Days) 221,000.00 1 1.05%
Delinquent Loans (90+ Days)(1) - 0 0.00%
Foreclosed Loans - 0 0.00%
REO 0.00 0 0.00%
(1) 90+ Figures Include Foreclosures and REO
Liquidation To-Date
Beginning Loss Amount 0.00
Current Month Loss Amount 0.00
Ending Loss Amount 0.00
Special Hazard Fraud Bankruptcy
Beginning Amount 0.00 0.00 0.00
Current Month Loss Amount 0.00 0.00 0.00
Ending Amount - - -
Liquidation Loss Distribution Amounts 0.00
Extraordinary Event Losses 0.00
Excess Loss Amounts 0.00
Capitalized Interest Account
- ----------------------------
Beginning Balance 21,028.38
Withdraw relating to prior month Collection Period 7,050.33
Interest Earned (Zero, Paid to Funding Account) 0.00
----
Total Ending Capitalized Interest Account Balance 13,978.05
Interest earned for Collection Period 252.37
Interest withdrawn related to prior Collection Period 0.00
Funding Account
- ---------------
Beginning Funding Account Balance 927,333.06
Deposit to Funding Account 171,909.35
Payment for Additional Purchases (1,099,242.41)
Ending Funding Account Balance -
Interest earned for Collection Period 592.62
Interest withdrawn related to prior Collection Period 0.00
Prefunding Account
- ------------------
Beginning Balance 7,373,121.99
Additional Purchases during Revolving Period (3,355,318.61)
Excess of Draws over Principal Collections 0.00
----
Total Ending Balance 4,017,803.38
Interest earned for Collection Period 34,116.91
Interest withdrawn related to prior Collection Period 0.00
Reserve Account
- ---------------
Beginning Balance 0.00
Deposits to Reserve Account for current Payment Date 0.00
Withdrawals from Reserve Accountfor current Payment Date 0.00
----
Total Ending Reserve Account Balance as of current Payment Date 0.00
<PAGE>
Interest earned for Collection Period 0.00
Interest withdrawn related to prior Collection Period 0.00
<PAGE>
Home Equity Loan-Backed Term Notes, GMACM Series 2000-HE1 Group 3
Payment Date 4/25/00
Servicing Certificate
- ---------------------
Beginning Pool Balance 39,537,297.04
Beginning PFA 10,066,931.50
Ending Pool Balance 48,877,370.72
Ending PFA Balance 863,486.51
Principal Collections 761,965.18
Principal Draws -
Net Principal Collections -
Active Loan Count 1,849
Interest Collections 422,422.95
Weighted Average Net Loan Rate 9.75372%
Substitution Adjustment Amount 0.00
Note Rate 7.9500%
Term Notes Amount Factor
- ---------- ------ ------
Beginning Balance 50,000,000.00 1.0000000
Ending Balance 50,000,000.00 1.0000000
Principal - 0.0000000
Interest 331,250.00 6.6250000
Interest Shortfall 0.00 0.0000000
Security Percentage 100.00%
Variable Funding Notes Amount
- ---------------------- ------
Beginning Balance 0.00
Ending Balance 0.00
Principal 0.00
Interest 0.00
Interest Shortfall 0.00
Security Percentage 0.00%
Certificates 0.00
Beginning Overcollateralization Amount 28,800.83
Overcollateralization Amount Increase (Decrease) 136,628.69
Outstanding Overcollateralization Amount 165,429.52
Overcollateralization Target Amount 875,000.00
Credit Enhancement Draw Amount 0.00
Unreimbursed Prior Draws 0.00
<PAGE>
Number Percent
Balance of Loans of Balance
------- -------- ----------
Delinquent Loans (30 Days) 27,259.50 2 0.06%
Delinquent Loans (60 Days) - 0 0.00%
Delinquent Loans (90+ Days)(1) - 0 0.00%
Foreclosed Loans - 0 0.00%
REO 0.00 0 0.00%
(1) 90+ Figures Include Foreclosures and REO
Liquidation To-Date
Beginning Loss Amount 0.00
Current Month Loss Amount 0.00
Ending Loss Amount 0.00
Special Hazard Fraud Bankruptcy
Beginning Amount 0.00 0.00 0.00
Current Month Loss Amount 0.00 0.00 0.00
Ending Amount - - -
Liquidation Loss Distribution Amounts 0.00
Extraordinary Event Losses 0.00
Excess Loss Amounts 0.00
Capitalized Interest Account
- ----------------------------
Beginning Balance 4,795.15
Withdraw relating to prior month 4,795.15
Collection Period
Interest Earned (Zero, Paid to Funding Account) 0.00
----
Total Ending Capitalized Interest Account Balance 0.00
Interest earned for Collection Period 57.56
Interest withdrawn related to prior 0.00
Collection Period
Funding Account
- ---------------
Beginning Funding Account Balance 424,572.29
Deposit to Funding Account 898,593.87
Payment for Additional Purchases (898,593.87)
Ending Funding Account Balance 424,572.29
Interest Earned for current Collection Period 271.32
Interest Withdrawn for prior Collection Period -
Prefunding Account
- ------------------
Beginning Balance 10,066,931.50
Additional Purchases during Revolving Period (9,203,444.99)
Excess of Draws over Principal Collections 0.00
----
Total Ending Balance 863,486.51
Interest Earned for current Collection Period 46,581.70
Interest Withdrawn for prior Collection Period 0.00
Reserve Account
- ---------------
Beginning Balance 0.00
Deposits to Reserve Account for current Payment Date 0.00
Withdrawals from Reserve Account for current Payment
Date 0.00
----
Total Ending Reserve Account Balance as of current
Payment Date 0.00
<PAGE>
Interest Earned for current Collection Period 0.00
Interest Withdrawn for prior Collection Period 0.00
