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.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 2000-1)
(Exact name of registrant as specified in charter)
Delaware 333-84249 13-3439681
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
390 Grenwich 4th Floor, New York, NY 10013
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (212) 723-6391
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
Item 5. Other Events
Salomon Brothers Mortgage Securities VII, Inc.
Mortgage Pass-Through Certificates
Series 2000-1
On April 25, 2000, U.S. Bank National Association, as Trustee for Salomon
Brothers Mortgage Securities VII, Inc., Mortgage Pass-Through Certificates
Series 2000-1, made a monthly distribution to Certificate holders of
principal and/or interest pursuant to the Pooling and Servicing Agreement,
dated as of March 1, 2000, among Salomon Brothers Mortgage Securities
VII, Inc. as Depositor, CitiMortgage, Inc., F/K/A Citicorp Mortgage, Inc. as
Master Servicer and Trust Administrator, U.S. Bank National Association, as
Trustee, U.S. Bank Trust National Association, as Co-Trustee.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99 Report to Holders of Salomon Brothers Mortgage Securities
VII, Inc., Mortgage Pass-Through Certificates Series 2000-1
relating to the distribution date of April 25, 2000 prepared
by U.S. Bank National Association, as Trustee under the
Pooling and Servicing Agreement dated as of March 1, 2000.
<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 thereunto duly authorized.
Dated: April 25, 2000
Salomon Brothers Mortgage Securities VII, Inc.
By: /s/ Cathy M. Johnson
------------------------------
Name: Cathy M. Johnson
Assistant Secretary
CitiMortgage, Inc.
as Trust Administrator
<PAGE>
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated April 25, 2000
CitiMortgage, Inc.
Distribution Date Statement to Certificateholders
Remic Pass-Through Certificate
Series Name: SBM7 2000-01
Payment Date: 4/25/2000
Issuer: Salomon Brothers Mortgage Securities VII, Inc.
Record Date: 31-Mar-00
Distribution Date: 25-Apr-00
Distribution #: 1
W.A.C. 9.35%
Trustee U.S. Bank National
Jason Giel (651) 244-1171
Bond Administrator CitiMortgage, Inc
Cathy Johnson (636) 256-6442
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------
Next
Current Succeeding
Class Coupon Type Coupon Coupon Original Par CUSIP #
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
~ A1 Floating Libor 6.48000 6.75000% $77,657,158.00 79548K3 A4
** ~ A2 Inverse Floating Lib 2.52000 2.25000% $77,657,158.00 79548K3 B2
A-PO Principal Only 0.00000 0.00000% $3,087,842.26 79548K3 F3
** A-IO WAC IO 0.40511 0.40341% $82,393,708.61 79548K3 G1
-------------------
Class A Total $80,745,000.26
B1 SUBORDINATED 9.00000 9.00000% $618,000.00 79548K3 C0
B2 SUBORDINATED 9.00000 9.00000% $206,000.00 79548K3 D8
B3 SUBORDINATED 9.00000 9.00000% $206,000.00 79548K3 E6
B4 SUBORDINATED 9.00000 9.00000% $330,000.00 7956419X9*
B5 SUBORDINATED 9.00000 9.00000% $123,000.00 7956419Y7*
B6 SUBORDINATED 9.00000 9.00000% $165,708.35 7956419Z4*
-------------------
Class SUB Total $1,648,708.35
===================
$82,393,708.61
** Denotes Notional Balance
~ These classes constitute regular interests in a separate REMIC election in the same trust.
</TABLE>
CitiMortgage, Inc.
Distribution Date Statement to Certificate Holders
Remic Pass-Through Certificate
Series Name: SBM7 2000-01
Payment Date: 4/25/2000
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------
Non
Interest Supported Interest Interest Principal
CLASS Accrued Shortfall Shortfall Recoveries Recoveries Interest Paid
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A1 $419,348.65 $0.00 $0.00 $0.00 $0.00 $419,348.65
A2 $163,080.03 $0.00 $0.00 $0.00 $0.00 $163,080.03
A-PO $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-IO $27,815.16 $0.00 $0.00 $0.00 $0.00 $27,815.16
----------------------------------------------------------------------------------------------------
A Total $610,243.84 $0.00 $0.00 $0.00 $0.00 $610,243.84
RES $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
----------------------------------------------------------------------------------------------------
RES Total $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
B1 $4,635.00 $0.00 $0.00 $0.00 $0.00 $4,635.00
B2 $1,545.00 $0.00 $0.00 $0.00 $0.00 $1,545.00
B3 $1,545.00 $0.00 $0.00 $0.00 $0.00 $1,545.00
B4 $2,475.00 $0.00 $0.00 $0.00 $0.00 $2,475.00
B5 $922.50 $0.00 $0.00 $0.00 $0.00 $922.50
B6 $1,242.81 $0.00 $0.00 $0.00 $0.00 $1,242.81
----------------------------------------------------------------------------------------------------
SUB Total $12,365.31 $0.00 $0.00 $0.00 $0.00 $12,365.31
=====================================================================================================
Total $622,609.15 $0.00 $0.00 $0.00 $0.00 $622,609.15
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------
Interest Cum Unpaid Relief Act
Paid Per Interest Interest
CLASS Certificate Shortfalls Shortfalls
---------------------------------------------------------------------------
<S> <C> <C> <C>
A1 5.39999996 $0.00 $0.00
A2 2.09999998 $0.00 $0.00
A-PO 0.00000000 $0.00 $0.00
A-IO 0.33758840 $0.00 $0.00
--------------------------------------
A Total $0.00 $0.00
RES 0.00000000 $0.00 $0.00
--------------------------------------
RES Total $0.00 $0.00
B1 7.50000000 $0.00 $0.00
B2 7.50000000 $0.00 $0.00
B3 7.50000000 $0.00 $0.00
B4 7.50000000 $0.00 $0.00
B5 7.50000000 $0.00 $0.00
B6 7.49998416 $0.00 $0.00
--------------------------------------
SUB Total $0.00 $0.00
======================================
Total $0.00 $0.00
</TABLE>
CitiMortgage, Inc.
Distribution Date Statement to Certificateholders
Remic Pass-Through Certificate
Series Name: SBM7 2000-01
Payment Date: 4/25/2000
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
Certificate
Reductions
not part of Principal
distributions Paid Cumulative
Principal to reduce Principal Per Principal
CLASS Due Stated Amount Paid Certificate Loss
---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A1 $1,247,799.68 $0.00 $1,247,799.68 16.06805750 0.00
A2 $.00 $0.00 $.00 0.00000000 0.00
A-PO $30,318.39 $0.00 $30,318.39 9.81863303 0.00
A-IO $.00 $0.00 $.00 0.00000000 0.00
-------------------------------------------------------------------------------------------------
A Total $1,278,118.07 $0.00 $1,278,118.07 0.00
B1 $2,078.88 $0.00 $2,078.88 3.36388350 0.00
B2 $692.96 $0.00 $692.96 3.36388350 0.00
B3 $692.96 $0.00 $692.96 3.36388350 0.00
B4 $1,110.08 $0.00 $1,110.08 3.36387879 0.00
B5 $413.76 $0.00 $413.76 3.36390244 0.00
B6 $557.42 $0.00 $557.42 3.36386187 0.00
-------------------------------------------------------------------------------------------------
SUB Total $5,546.06 $0.00 $5,546.06 0.00
================================================================================================
Total $1,283,664.13 $0.00 $1,283,664.13 0.00
Aggr. Scheduled Principal Payments: $279,873.90
Aggr. Principal Prepayments: $1,003,790.23
</TABLE>
CitiMortgage, Inc.
Distribution Date Statement to Certificateholders
Remic Pass-Through Certificate
Series Name: SBM7 2000-01
Payment Date: 4/25/2000
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Previous Ending Ending Ending
Period's Period's Balance Per Balance Ending
CLASS Balance Balance Certificate Pool Factor Class PCT
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A1 $77,657,158.00 $76,409,358.32 983.93194250 0.98393194 97.8947991978 %
** A2 $77,657,158.00 $76,409,358.32 983.93194250 0.98393194 0.0000000000 %
A-PO $3,087,842.26 $3,057,523.87 990.18136697 0.99018137 0.0000000000 %
** A-IO $82,393,708.61 $81,110,044.48 984.42036229 0.98442036 0.0000000000 %
---------------------------------------------------------------------------------------------------------------
A Total $80,745,000.26 $79,466,882.19 97.8947991978 %
B1 $618,000.00 $615,921.12 996.63611650 0.99663612 0.7891111205 %
B2 $206,000.00 $205,307.04 996.63611650 0.99663612 0.2630370402 %
B3 $206,000.00 $205,307.04 996.63611650 0.99663612 0.2630370402 %
B4 $330,000.00 $328,889.92 996.63612121 0.99663612 0.4213700178 %
B5 $123,000.00 $122,586.24 996.63609756 0.99663610 0.1570560938 %
B6 $165,708.35 $165,150.93 996.63613813 0.99663614 0.2115894896 %
---------------------------------------------------------------------------------------------------------------
SUB Total $1,648,708.35 $1,643,162.29 2.1052008022 %
===============================================================================================================
Total $82,393,708.61 $81,110,044.48 100.0000000000 %
PO Balance $3,087,842.26 $3,057,523.87
Non PO Balance $79,305,866.35 $78,052,520.61
** Denotes Notional Balance
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Previous Ending Begining
Period's Period's Balance Per Beginning Prepayment
CLASS Balance Balance Certificate Class PCT Percentage
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A1 $77,657,158.00 $76,409,358.32 1,000.00000000 97.9210764274% 100.0000000000 %
** A2 $77,657,158.00 $76,409,358.32 1,000.00000000 0.0000000000% 0.0000000000 %
A-PO $3,087,842.26 $3,057,523.87 1,000.00000000 0.0000000000% 0.0000000000 %
** A-IO $82,393,708.61 $81,110,044.48 1,000.00000000 0.0000000000% 0.0000000000 %
---------------------------------------------------------------------------------------------------------------
Class A Total $80,745,000.26 $79,466,882.19 97.9210764274% 100.0000000000 %
B1 $618,000.00 $615,921.12 1,000.00000000 0.7792613945% 0.0000000000 %
B2 $206,000.00 $205,307.04 1,000.00000000 0.2597537982% 0.0000000000 %
B3 $206,000.00 $205,307.04 1,000.00000000 0.2597537982% 0.0000000000 %
B4 $330,000.00 $328,889.92 1,000.00000000 0.4161104533% 0.0000000000 %
B5 $123,000.00 $122,586.24 1,000.00000000 0.1550957144% 0.0000000000 %
B6 $165,708.35 $165,150.93 1,000.00000000 0.2089484141% 0.0000000000 %
---------------------------------------------------------------------------------------------------------------
Class SUB Total $1,648,708.35 $1,643,162.29 2.0789235726% 0.0000000000 %
===============================================================================================================
Total $82,393,708.61 $81,110,044.48 100.0000000000% 100.0000000000 %
** Denotes Notional Balance
</TABLE>
CitiMortgage, Inc.
Distribution Date Statement to Certificateholders
Remic Pass-Through Certificate
Series Name: SBM7 2000-01
Payment Date: 4/25/2000
Print Date: 5/2/2000
P & I Advances
--------------
Voluntary Advances $0.00
Trustee Advances $0.00
Advance Account Advances $0.00
Certificate Account Advances $124,130.04
Summary of Disbursements
------------------------
Withdrawals
Remittances Residual and (Deposits) P&I Distributed
- ----------------- ------------- --------------- ----------------
$1,908,418.95 $0.00 $2,145.67 $1,906,273.28
Stated Collateral Information
- -----------------------------
Service Fees $17,048.35
Begin Balance $82,393,708.61
Aggregate Adj Balance $81,110,044.48
Realized Losses incurred during the related Prepayment Period
-------------------------------------------------------------
Total Realized Losses $0.00
Which Include:
Type Coverage Current Losses Cumulative Losses
--------------- ------------- --------------- -----------------
Special Hazards $1,430,689.00 $0.00 $0.00
Bankruptcy $100,000.00 $0.00 $0.00
Fraud $823,937.00 $0.00 $0.00
Extraordinary Trust Fund Expenses
---------------------------------
Expenses withdrawn from the collection
Account or the Distribution Account: $0.00
Withdrawals from Certificate Account
------------------------------------
Type Retained Amount Balance
-------------------------- --------- ------------- -------------
Trust Administration Fee Yes $858.27 $0.00
Trustee Fee No $1,287.40 $0.00
COLLATERAL INFORMATION:
AT ISSUE CURRENT
---------------- ----------------
WAC - SCHED BEG BAL 9.35% 9.35%
WAC - SCHED END BAL 9.35%
WAC - ACTUAL END BAL 9.35%
WAM 217 217
AVG LTV
AVG LOAN SIZE $181,484 $180,245
# OF LOANS 454 450
ACTUAL AGGERGATE $82,400,514.64 $81,344,225.63
PRINCIPAL BALANCE $82,393,708.61 $81,110,044.48
<TABLE>
<CAPTION>
DELINQUENCY INFORMATION
Number of Amount of Scheduled Amount of Actual
loans Balance Balance
------------- ----------------------- ----------------------
# PCT Amount PCT Amount PCT
<S> <C> <C> <C> <C> <C> <C>
30 + Days 14 3.11% $3,243,728.07 4.00% $3,255,361.34 4.00%
60 + Days 3 0.67% $767,363.43 0.95% $770,132.84 0.95%
(1) 90 + Days 0 0.00% $0.00 0.00% $0.00 0.00%
REAL ESTATE OWNED BY THE TRUST 0 0.00% $0.00 0.00% $0.00 0.00%
FORECLOSURES IN PROCESS 0 0.00% $0.00 0.00% $0.00 0.00%
BANKRUPTCIES IN PROCESS 7 1.56% $1,729,167.91 2.13% $1,731,822.29 2.13%
(1) 90+ DAYS DOES NOT INCLUDE REAL ESTATE OWNED BY THE TRUST.
</TABLE>
CitiMortgage, Inc.
Distribution Date Statement to Certificateholder
Remic Pass-Through Certificate
Series: SBM7 2000-01
Payment Date: 4/25/2000
Loans that became REO / Foreclosure this payment period.
Loan Id Actual Principal Balance Scheduled Principal Balance
----------- ----------------------------- ---------------------------
Total Book Value of REO Properties: $0.00
