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Previous: NORWEST INTEGRATED STRUCTURED ASSETS INC SERIES 2000-1 TRUST, 8-K, 2000-05-09 |
Next: OCEN COMMUNICATIONS INC, S-1/A, 2000-05-09 |
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): April 25, 2000
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC.
Mortgage Pass-Through Certificates, Series 2000-LB1 Trust
52-2224703
52-2224707
New York (governing law of 333-84249-04 52-2224709
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, Maryland (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 April 25, 2000 a distribution was made to holders of SALOMON BROTHERS
MORTGAGE SECURITIES VII, INC., Mortgage Pass-Through Certificates, Series
2000-LB1 Trust.
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 Mortgage Pass-Through Certificates, Series
2000-LB1 Trust, relating to the April 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.
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC.
Mortgage Pass-Through Certificates, Series 2000-LB1 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri Sharps, Vice President
By: Sherri Sharps, Vice President
Date: 5/3/00
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 2000-LB1 Trust, relating to the April 25,
2000 distribution.
<TABLE>
<CAPTION>
Salomon Brothers Mortgage Securities VII, Inc.
Mortgage Pass-Through Certificates
Record Date: 3/31/2000
Distribution Date: 4/25/2000
SBMSVII Series: 2000-LB1
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 79548KW46 SEN_FLT 6.46500% 641,890,568.85 3,342,912.59 5,389,354.34
M-1 79548KW53 SEN_FLT 6.72500% 47,203,000.00 255,715.70 0.00
M-2 79548KW61 SEN_FLT 7.27500% 41,302,000.00 242,046.93 0.00
M-3 79548KW79 SEN_FIX 7.00000% 31,468,000.00 183,563.33 0.00
P SAL00LB1P SEN_FIX 0.00000% 100.00 134,153.13 0.00
CE SAL00L1CE JUN_FIX 0.00000% 21,636,242.75 2,000,867.49 0.00
R-I SAL00L1R1 NPR_NPR 0.00000% 0.00 0.00 0.00
R-II SAL00L1R2 NPR_NPR 0.00000% 0.00 0.00 0.00
R-III SAL00L1R3 NPR_NPR 0.00000% 0.00 0.00 0.00
Totals 783,499,911.60 6,159,259.17 5,389,354.34
</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 0.00 636,501,214.51 8,732,266.93 0.00
M-1 0.00 47,203,000.00 255,715.70 0.00
M-2 0.00 41,302,000.00 242,046.93 0.00
M-3 0.00 31,468,000.00 183,563.33 0.00
P 0.00 100.00 134,153.13 0.00
CE 0.00 21,636,242.75 2,000,867.49 0.00
R-I 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00
Totals 0.00 778,110,557.26 11,548,613.51 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 645,109,000.00 641,890,568.85 424,689.63 4,964,664.71 0.00 0.00
M-1 47,203,000.00 47,203,000.00 0.00 0.00 0.00 0.00
M-2 41,302,000.00 41,302,000.00 0.00 0.00 0.00 0.00
M-3 31,468,000.00 31,468,000.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
CE 21,636,342.75 21,636,242.75 0.00 0.00 0.00 0.00
R-I 0.00 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00 0.00
Totals 786,718,442.75 783,499,911.60 424,689.63 4,964,664.71 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 5,389,354.34 636,501,214.51 0.98665685 5,389,354.34
M-1 0.00 47,203,000.00 1.00000000 0.00
M-2 0.00 41,302,000.00 1.00000000 0.00
M-3 0.00 31,468,000.00 1.00000000 0.00
P 0.00 100.00 1.00000000 0.00
CE 0.00 21,636,242.75 0.99999538 0.00
R-I 0.00 0.00 0.00000000 0.00
R-II 0.00 0.00 0.00000000 0.00
R-III 0.00 0.00 0.00000000 0.00
Totals 5,389,354.34 778,110,557.26 0.98905849 5,389,354.34
</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 645,109,000.00 995.01102736 0.65832228 7.69585405 0.00000000
M-1 47,203,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 41,302,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 31,468,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 21,636,342.75 999.99537815 0.00000000 0.00000000 0.00000000
R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All Classes are Per 1,000 Denomination
</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 8.35417633 986.65685103 0.98665685 8.35417633
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 0.00000000 999.99537815 0.99999538 0.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 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 645,109,000.00 6.46500% 641,890,568.85 3,342,912.59 0.00 0.00
M-1 47,203,000.00 6.72500% 47,203,000.00 255,715.70 0.00 0.00
M-2 41,302,000.00 7.27500% 41,302,000.00 242,046.93 0.00 0.00
M-3 31,468,000.00 7.00000% 31,468,000.00 183,563.33 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
CE 21,636,342.75 0.00000% 21,636,242.75 0.00 0.00 0.00
R-I 0.00 0.00000% 0.00 0.00 0.00 0.00
R-II 0.00 0.00000% 0.00 0.00 0.00 0.00
R-III 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 786,718,442.75 4,024,238.55 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 3,342,912.59 0.00 636,501,214.51
M-1 0.00 0.00 255,715.70 0.00 47,203,000.00
M-2 0.00 0.00 242,046.93 0.00 41,302,000.00
M-3 0.00 0.00 183,563.33 0.00 31,468,000.00
P 0.00 0.00 134,153.13 0.00 100.00
CE 0.00 0.00 2,000,867.49 0.00 21,636,242.75
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 6,159,259.17 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 645,109,000.00 6.46500% 995.01102736 5.18193451 0.00000000 0.00000000
M-1 47,203,000.00 6.72500% 1000.00000000 5.41736118 0.00000000 0.00000000
M-2 41,302,000.00 7.27500% 1000.00000000 5.86041669 0.00000000 0.00000000
M-3 31,468,000.00 7.00000% 1000.00000000 5.83333323 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
CE 21,636,342.75 0.00000% 999.99537815 0.00000000 0.00000000 0.00000000
R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Classes are per $1,000 denomination.
</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 5.18193451 0.00000000 986.65685103
M-1 0.00000000 0.00000000 5.41736118 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 5.86041669 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 5.83333323 0.00000000 1000.00000000
P 0.00000000 0.00000000 1341531.30000000 0.00000000 1000.00000000
CE 0.00000000 0.00000000 92.47715814 0.00000000 999.99537815
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<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 ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 11,877,357.06
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 11,877,357.06
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 328,743.55
Payment of Interest and Principal 11,548,613.51
Total Withdrawals (Pool Distribution Amount) 11,877,357.06
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 326,458.32
Norwest Bank 2,285.23
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 328,743.55
</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 51 8,203,213.48 0.786309% 1.054248%
60 Days 4 1,075,705.85 0.061671% 0.138246%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 55 9,278,919.33 0.847980% 1.192494%
</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 9.731487%
Weighted Average Net Coupon 9.231487%
Weighted Average Pass-Through Rate 9.227987%
Weighted Average Maturity(Stepdown Calculation ) 351
Beginning Scheduled Collateral Loan Count 6,525
Number Of Loans Paid In Full 39
Ending Scheduled Collateral Loan Count 6,486
Beginning Scheduled Collateral Balance 783,499,911.60
Ending Scheduled Collateral Balance 778,110,557.26
Ending Actual Collateral Balance at 31-Mar-2000 778,110,557.26
Monthly P &I Constant 6,778,539.18
Ending Scheduled Balance for Premium Loans 778,110,557.26
Scheduled Principal 0.00
Unscheduled Principal 4,964,664.71
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 21,636,242.75
Overcollateralized Amount 0.00
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 21,636,242.75
Extra principal distribution Amount 0.00
Excess Cash Amount 2,000,867.49
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Credit Enhancement Percentage 18.72%
Loss Severity Percentage 0.00%
Aggregate Loss Severity Percentage 0.00%
Bankruptcy Reporting $0.00
</TABLE>
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