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Previous: RESIDENTIAL ASSET MORTGAGE PRODUCTS INC, 8-K, 2000-08-28 |
Next: RESIDENTIAL ASSET MORTGAGE PRODUCTS INC, 8-K, 2000-08-28 |
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): August 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-HE2)
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
(Address of principal executive offices) (Zip code)
(612) 832-7000
Registrant's telephone number, including area code
Not Applicable
(Former name or former address, if changed since last report)
-------------------------------------------------------------------------------
Exhibit Index Located on Page 4
<PAGE>
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-HE2,
GMACM Home Equity Loan-Backed Term Notes, GMACM Series
2000-HE2 Class A-1 and Class A-2 Servicing Certificates,
each for Payment Date 8/25/00.
<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: August 25, 2000
<PAGE>
20.1 Residential Asset Mortgage Products, Inc.,
GMACM Home Equity Loan Trust 2000-HE2,
GMACM Home Equity Loan-Backed Term Notes, GMACM Series
2000-HE2 Class A-1 and Class A-2 Servicing Certificates,
each for Payment Date 8/25/00.
Home Equity Loan-Backed Term Notes, GMACM Series 2000-HE2, Class A-1
Payment Date 08/25/2000
Servicing Certificate
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Beginning Pool Balance 334,285,125.77
Ending Pool Balance 367,208,609.06
Principal Collections 11,315,518.95
Principal Draws 12,786,585.70
Net Principal Collections -
Current Month Repurchases 40,759.01
Current Month Repurchases - Due to Delinquency -
Mortgage Loan Principal balance current period 367,208,609.06
Interest earned on Pre-Funding Account 630,237.33
Interest earned on Funding Account 2,516.60
Interest Collections
2,557,232.18
Excess Spread 0.00
Active Loan Count 14,385
Net Loan Rate 9.42353%
Substitution Adjustment Amount 0.00
Note Rate 6.8400%
Term Notes Amount Factor
---------- ------ ------
Beginning Balance 451,475,000.00 1.0000000
Ending Balance 451,475,000.00 1.0000000
Principal 0.00 0.0000000
Interest 2,659,187.75 147.2500000
Interest Shortfall 0.00 0.0000000
Security Percentage 100.00%
<PAGE>
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
Funding Account Balance Total Amount
--------------------------
Beginning Balance 0.00
Prior Month Net Principal Collections deposit 1,156,157.01
Prior Month Overcollateralization deposit 0.00
Withdraw for Prior month interest earned 0.00
Interest Earned on Funding Account 2,516.60
Additional Balances/Subsequent Loan Transfer 0.00
--------------------------
Total Ending Balance as of Collection Period 1,158,673.61
Total Funding Account Deposit (including Net 584,235.32
Principal and Over-Collateralization)
Current Month Net Principal Collections 0.00
Current Month Subsequent Transfer Loan Acquired 0.00
Additional Balances Acquired 0.00
Pre-Funding Account Balance
Beginning Balance 116,073,733.73
Interest Earned on Prefunding Account 630,237.33
Prior Month Interest Earned transferred to 40,016.51
Capitalized Interest Account
Current Month Subsequent Transfer Loan Acquired 31,452,416.54
Draws exceeding Collections for Current Month
1,471,066.75
--------------------------
Total Ending Balance as of Collection Period 83,740,471.26
<PAGE>
Capitalized Interest Account Balance
Beginning Balance 1,063,807.64
Interest Earned 5,557.19
Prior Month Interest Earned on Pre-Funding Account 40,016.51
Prior Month Advance to Cover Interest Shortfall 109,657.34
--------------------------
Total Ending Balance 999,724.00
Beginning Overcollateralization Amount 0.00
Overcollateralization Amount Increase (Decrease) 584,235.32
Outstanding Overcollaterization Amount
584,235.32
Target Amount 7,900,812.50
Credit Enhancement Draw Amount 0.00
Unreimbursed Prior Draws 0.00
Has a Rapid Amortization Event Occurred? No
Has a Managed Amortization Event Occurred? No
Has a Servicing Default Occurred ? No
Number Percent
Balance of Loans of Balance
Delinquent Loans (30 Days) 1,367,096.30 57 0.37%
Delinquent Loans (60 Days) 268,823.18 8 0.07%
Delinquent Loans (90+ Days) (1) 94,166.34 1 0.03%
Foreclosed Loans 0.00 0 0.00%
REO 0.00 0 0.00%
(1) 90+ Figures Include Foreclosures and REO
Percent
Liquidation To-Date of Balance
--------------------------
Beginning Loss Amount 0.00
Current Month Loss Amount 0.00 0.00%
Ending Loss Amount 0.00
</TABLE>
<PAGE>
Home Equity Loan-Backed Term Notes, GMACM Series 2000-HE2, Class A-2
Payment Date 08/25/2000
Servicing Certificate
Beginning Pool Balance 50,368,580.79
Ending Pool Balance 59,365,498.87
Principal Collections 3,524,515.42
Principal Draws 2,167,551.35
Net Principal Collections 1,356,964.07
Current Month Repurchases -
Current Month Repurchases - Due to Delinquency -
Mortgage Loan Principal balance current period 59,365,498.87
Interest earned on Pre-Funding Account 71,039.33
Interest earned on Funding Account 283.67
Interest Collections 391,998.51
Excess Spread 0.00
Active Loan Count 891
Net Loan Rate 8.67278%
Substitution Adjustment Amount 0.00
Note Rate 7.2000%
<TABLE>
<CAPTION>
Term Notes Amount Factor
---------- ------ ------
<S> <C> <C> <C>
Beginning Balance 65,000,000.00 1.0000000
Ending Balance 65,000,000.00 1.0000000
Principal 0.00 0.0000000
Interest 403,000.00 155.0000000
Interest Shortfall 0.00 0.0000000
Security Percentage 100.00%
<PAGE>
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
Funding Account Balance Total Amount
-------------------
Beginning Balance 0.00
Prior Month Principal Collections deposit 1,546,641.15
Prior Month Overcollateralization deposit 0.00
Withdraw for Prior month interest earned 0.00
Interest Earned on Funding Account 283.67
Additional Balances/Subsequent Loan Transfer 0.00
-------------------
Total Ending Balance as of Collection Period 1,546,924.82
Total Funding Account Deposit (including Net Principal 1,427,399.84
and Over-Collateralization)
Current Month Net Principal Collections 1,356,964.07
Current Month Subsequent Transfer Loan Acquired 0.00
Additional Balances Acquired 0.00
Pre-Funding Account Balance
Beginning Balance 13,089,288.66
Interest Earned on Prefunding Account 71,039.33
Prior Month Interest Earned transferred to Capitalized 4,510.60
Interest Account
Current Month Subsequent Transfer Loan Acquired 10,353,882.15
-------------------
Total Ending Balance 2,801,935.24
<PAGE>
Capitalized Interest Account Balance
Beginning Balance 119,910.66
Interest Earned 626.40
Prior Month Interest Earned on Pre-Funding Account 4,510.60
Prior Month Advance to Cover Interest Shortfall 10,856.92
-------------------
Total Ending Balance 114,190.74
Beginning Overcollateralization Amount 0.00
Overcollateralization Amount Increase (Decrease) 70,435.77
Outstanding Overcollaterization Amount
70,435.77
Target Amount 1,137,500.00
Credit Enhancement Draw Amount 0.00
Unreimbursed Prior Draws 0.00
Has a Rapid Amortization Event Occurred? No
Has a Managed Amortization Event Occurred? No
Has a Servicing Default Occurred ? No
Number Percent
Balance of Loans of
Balance
Delinquent Loans (30 Days) 190,115.81 3 0.32%
Delinquent Loans (60 Days) - 0 0.00%
Delinquent Loans (90+ Days) (1) 0.00 0 0.00%
Foreclosed Loans 0.00 0 0.00%
REO 0.00 0 0.00%
(1) 90+ Figures Include Foreclosures and REO
Percent
Liquidation of
To-Date Balance
-------------------
Beginning Loss Amount 0.00
Current Month Loss Amount 0.00 0.00%
Ending Loss Amount 0.00
</TABLE>
<PAGE>
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