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Previous: INVENTA TECHNOLOGIES INC, S-1/A, 2000-03-13 |
Next: ROYSTON MANNER ESTATE INC, RW, 2000-03-13 |
UNITED STATES
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): February 25, 2000
IMPAC CMB TRUST SERIES 2000-1
Collateralized Asset Backed Bonds, Series 2000-1
New York (governing law of 333-60707 Pending
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway 21044
Columbia, MD (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
Former name or former address, if changed since last report)
ITEM 5. Other Events
On February 25, 2000 a distribution was made to holders of IMPAC CMB TRUST
SERIES 2000-1, Collateralized Asset Backed Bonds, Series 2000-1
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of
Regulation S-K
Exhibit Number Description
Monthly report distributed to holders of
EX-99.1 Collateralized Asset Backed Bonds, Series
2000-1,relating to the February 25, 2000
distribution.
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.
IMPAC CMB TRUST SERIES 2000-1
Collateralized Asset Backed Bonds, Series 2000-1
By: Norwest Bank Minnesota, N.A., as Indenture Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 3/6/00
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Collateralized Asset
Backed Bonds, Series 2000-1, relating to the February 25, 2000
distribution.
<TABLE>
<CAPTION>
Impac Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
Record Date: 1/31/00
Distribution Date: 2/25/00
IMP Series: 2000-1
Contact: Customer Service - CTSLink
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
A 45254NBC0 SEN 6.14125% 428,950,000.00 2,048,891.59 1,751,184.57
B 45254NBD8 JUN 8.22125% 23,000,000.00 147,069.03 93,897.30
TrustCert IMP0001TC JUN 0.00000% 0.00 14,444.45 0.00
OC IMP0001OC SEN 0.00000% 8,053,998.07 0.00 0.00
Totals 460,003,998.07 2,210,405.07 1,845,081.87
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
A 0.00 427,198,815.43 3,800,076.16 0.00
B 0.00 22,906,102.70 240,966.33 0.00
TrustCert 0.00 0.00 14,444.45 0.00
OC 0.00 8,719,439.12 0.00 0.00
Totals 0.00 458,824,357.25 4,055,486.94 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
A 428,950,000.00 428,950,000.00 315,696.55 1,435,488.02 0.00 0.00
B 23,000,000.00 23,000,000.00 16,927.43 76,969.87 0.00 0.00
TrustCert 0.00 0.00 0.00 0.00 0.00 0.00
OC 8,053,998.07 8,053,998.07 0.00 0.00 0.00 0.00
Totals 460,003,998.07 460,003,998.07 332,623.98 1,512,457.89 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
A 1,751,184.57 427,198,815.43 0.99591751 1,751,184.57
B 93,897.30 22,906,102.70 0.99591751 93,897.30
TrustCert 0.00 0.00 0.00000000 0.00
OC 0.00 8,719,439.12 1.08262245 0.00
Totals 1,845,081.87 458,824,357.25 0.99743559 1,845,081.87
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
A 428,950,000.00 1000.00000000 0.73597517 3.34651596 0.00000000
B 23,000,000.00 1000.00000000 0.73597522 3.34651609 0.00000000
TrustCert 0.00 0.00000000 0.00000000 0.00000000 0.00000000
OC 8,053,998.07 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
All Denominations are Per 1000
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
A 0.00000000 4.08249113 995.91750887 0.99591751 4.08249113
B 0.00000000 4.08249130 995.91750870 0.99591751 4.08249130
TrustCert 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 1,082.62244965 1.08262245 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A 428,950,000.00 6.14125% 428,950,000.00 2,048,891.59 0.00 0.00
B 23,000,000.00 8.22125% 23,000,000.00 147,069.03 0.00 0.00
TrustCert 0.00 0.00000% 0.00 0.00 0.00 0.00
OC 8,053,998.07 0.00000% 8,053,998.07 0.00 0.00 0.00
Totals 460,003,998.07 2,195,960.62 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A 0.00 0.00 2,048,891.59 0.00 427,198,815.43
B 0.00 0.00 147,069.03 0.00 22,906,102.70
TrustCert 0.00 0.00 14,444.45 0.00 0.00
OC 0.00 0.00 0.00 0.00 8,719,439.12
Totals 0.00 0.00 2,210,405.07 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A 428,950,000.00 6.14125% 1000.00000000 4.77652778 0.00000000 0.00000000
B 23,000,000.00 8.22125% 1000.00000000 6.39430565 0.00000000 0.00000000
TrustCert 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
OC 8,053,998.07 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
All Denominations are Per 1000
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A 0.00000000 0.00000000 4.77652778 0.00000000 995.91750887
B 0.00000000 0.00000000 6.39430565 0.00000000 995.91750870
TrustCert 0.00000000 0.00000000 3611112500.00000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 1082.62244965
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Rate Balance Balance Balance Balance Percentage
Class
<S> <C> <C> <C> <C> <C> <C>
AMBAC 0.18000% 428,950,000.00 427,198,815.43 0.00 0.00 99.59175089%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 4,389,714.77
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 4,389,714.77
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 334,227.83
Payment of Interest and Principal 4,055,486.94
Total Withdrawals (Pool Distribution Amount) 4,389,714.77
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 265,975.29
Certificate Administration Fee 0.00
Indenture Truste: Norwest Bank 3,258.37
Bond Insurance: Ambac 64,342.50
Owner Trustee: Wilmington Trust 651.67
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 334,227.83
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Financial Guaranty 0.00 0.00 0.00 0.00
Financial Guaranty 0.00 0.00 0.00 0.00
Financial Guaranty 0.00 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION> CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 120 15,857,558.96 4.756243% 3.456128%
60 Days 24 2,984,320.51 0.951249% 0.650428%
90+ Days 9 1,353,511.46 0.356718% 0.294996%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 153 20,195,390.93 6.064209% 4.401552%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Principal Balance of Contaminated Properties 0.00
Current Period Class A Insufficient Funds 0.00
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 8.336352%
Weighted Average Net Coupon 7.642509%
Weighted Average Pass-Through Rate 7.632310%
Weighted Average Maturity(Stepdown Calculation ) 347
Beginning Scheduled Collateral Loan Count 2,528
Number Of Loans Paid In Full 5
Ending Scheduled Collateral Loan Count 2,523
Beginning Scheduled Collateral Balance 460,003,998.07
Ending Scheduled Collateral Balance 458,824,357.26
Ending Actual Collateral Balance at 31-Jan-2000 459,088,632.24
Monthly P &I Constant 3,528,253.49
Ending Scheduled Balance for Premium Loans 458,824,357.26
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 665,441.05
Overcollateralized reduction Amount 0.00
Specified O/C Amount 9,200,079.96
Overcollateralized Amount 8,053,998.07
Overcollateralized Deficiency Amount 1,146,081.89
Base Overcollateralized Amount 9,200,079.96
Extra principal distribution Amount 665,441.05
Excess Cash Amount 665,441.05
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
CAP Contract Payment Amount 14,444.45
Cumulative Loss % 0.00%
Rolling Delinquency % .29%
</TABLE>
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