May 15, 2000
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Home Loan Trust 2000-1 Mortgage Pass-Through Certificates, Series
2000-1;
File No. 333-43091-06.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the
"Trust") created pursuant to a Pooling and Servicing Agreement dated
as of February 29, 2000 (the "Pooling and Servicing Agreement")
relating to Home Loan Trust 2000-1, among Bankers Trust Company of
California, N.A., as Trustee (the "Trustee"), Residential Asset Funding
Corporation, as Depositor (the "Depositor") and Home Loan and Investment
Bank, F.S.B., as Master Servicer (the "Master Servicer").
The Certificates will consist of two classes of senior certificates, the
class A-1 certificates and the class A-2 certificates, and one class of
subordinated class R certificates. Only the Class A certificates are
being offered hereby.
Each class A certificate represents a certain fractional undivided
ownership interest in the trust fund. The trust fund consists of:
1. the mortgage loans, together with the mortgage files relating thereto
and all collections thereon and proceeds thereof (other than payments of
interest that accrued on each mortgage loan up to and including the due
date occurring on or immediately preceding the cut-off date and principal
(including prepayments) received on or prior to the cut-off date,
2. assets that from time to time are identified as REO property and
collections thereon and proceeds thereof,
3. assets that are deposited in the certificate account, including
amounts on deposit in the certificate account (including the simple
interest excess sub-account) and invested in permitted investments,
4. the trustee's rights with respect to the mortgage loans under all
insurance policies required to be maintained and any insurance proceeds,
5. liquidation proceeds,
6. released mortgaged property proceeds and
7. the spread account.
In addition, Financial Security will issue the certificate insurance
policy under which it will guarantee payments to the class A holders as
described in the Prospectus Supplement dated as of March 11, 2000 (to
prospectus dated September 9, 1999.)
In addition to the class A-1 certificates and the class A-2 certificates,
the trust will also issue the class R certificates. The class R
certificates are not being offered hereby.
Distributions of principal and interest to holders of record of class A
certificates as of each record date will be made on each related payment
date in an amount equal to their respective percentage interests
multiplied by the amount to be distributed to the class A holders
described under "--Flow of Funds".
The Offered Certificates were registered under the Securities Act of 1933,
as amended, by a Registration Statement on Form S-11 (File No. 333-81721).
As a result, the Trust is subject to the filing requirements of Section
15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"). The Trust intends to fulfill these filing requirements in the
manner described herein:
The Trust will file, promptly after each Distribution Date (as defined in
the Pooling and Servicing Agreement), a Current Report on Form 8-K in
substantially the form enclosed herewith, including as an exhibit thereto
the applicable Distribution Date report. Each such Current Report will
also disclose under Item 5 any matter occurring during the relevant
reporting period which would be reportable under Item 1, 2, 4 or 5 of
Part II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will file
an annual report of Form 10-K which responds to Items 2, 3, and 4 of
Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and
Item 14 of Part IV thereof, and include as exhibits thereto certain
information from the Distribution Date reports aggregated for such
year and a copy of the independent accountants' annual compliance
statement required under the Pooling and Servicing Agreement.
The Trust will follow the above procedures except for any fiscal year
as to which its reporting obligations under Section 15(d) of the
Exchange Act have been suspended pursuant to such Section. In such
event, the Trust will file a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 247-6255.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Home Loan Trust 2000-1 Mortgage Pass-Through
Certificates, Series 2000-1.
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 17, 2000
RESIDENTIAL ASSET FUNDING CORPORATION,
as Depositor, Home Loan and Investment Bank, F.S.B., as Master
Servicer (the "Master Servicer"), and Bankers Trust Company of
California, N.A., as trustee (the "Trustee") under the Pooling and
Servicing Agreement, dated as of February 29, 2000, relating to Home
Loan Trust 2000-1.
HOME LOAN TRUST 2000-1 MORTGAGE PASS-THROUGH CERTIFICATES,
SERIES 2000-1
(Exact name of Registrant as specified in its Charter)
NORTH CAROLINA
(State or Other Jurisdiction of Incorporation)
333-81721 TBD
(Commission File Number) (I.R.S. Employer Identification No.)
301 SOUTH COLLEGE STREET
CHARLOTTE, NORTH CAROLINA
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (704) 374-4868
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements to the
Certificateholders which was derived from the monthly information
submitted by the Master Servicer of the Trust to the Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
April 17, 2000.
SIGNATURE
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.
Bankers Trust Company of California, N.A.,
not in its individual capacity, but solely
as a duly authorized agent of the Registrant
pursuant to the Pooling and Servicing
Agreement, dated as of February 29, 2000.
Date: May 18, 2000 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
DOCUMENT
Monthly Remittance Statement to the Certificateholders
dated as of April 17, 2000.
Home Loan and Investment Association 2000-1
Mortgage Pass-Through Certificates
April 17, 2000 Distribution
Contents
TABLE OF CONTENTS
> Page
1. Cont
>ents 1
2. Cert
>ificate Payment Report 2
3. Coll
>ection Account Report 4
4. Coll
>ateral Report 7
5. Deli
>nquency Report 10
6. REO
>Report 13
7. Prep
>ayment Report 14
8. Real
>ized Loss Report 17
9. Othe
>r Related Information 20
Tota
>l Number of Pages
> 20
CONTACTS
Adm
>inistrator: Barbara Rowe
Dir
>ect Phone Number: (714)247-6284
Add
>ress: Deutsche Bank
> 1761 E. St. Andrew Place, Santa Ana, CA 92705
Web
> Site: http://www-apps.gis.deutsche-bank.com/invr
Fac
>tor Information: (800) 735-7777
Mai
>n Phone Number: (714) 247-6000
ISSUANCE INFORMATION
Seller: Home Loan and Inves
>tment Cut-Off Date:
> February 29, 2000
Certificate Insurer: Financial Security
>Assurance Inc. Closing Date:
> March 14, 2000
Servicer(s): Home Loan and Inves
>tment First Payment Date:
> April 17, 2000
Underwriter(s): First Union Securit
>ies Distribution Date:
> April 17, 2000
> Record Date:
> March 31, 2000
> Page 1 of 20
> (c) COPYRIGHT 2000 Deutsche Bank
HISTORICAL DATA
> - STATEMENT 1 GROUP TOTAL
1
issue_idperiod
> t_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
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HL0001 200004
> 0 0393040.4 0 0 0 0 7 0
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HISTORICAL DATA
> - STATEMENT 1 GROUP 1
1
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
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HL0001 200004
> 1 0312714.1 0 0 0 0 5 0
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HISTORICAL DATA
> - STATEMENT 1 GROUP 2
1
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
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HL0001 200004
> 2 080326.35 0 0 0 0 2 0
> 0 0 0 0 0 0 0 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 3
0
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
HISTORICAL DATA
> - STATEMENT 1 GROUP 4
0
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
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>
> 0 0
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
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>_ba
0 0 0 0 053856.84 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 0393040.4 7 0 053856.84 0 0 055275
>377
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
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0 0 0 0 040480.22 0 0 0
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t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
0 0 0 0 013376.62 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 080326.35 2 0 013376.62 0 0 014664
>644
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
18
>0 0 281.757
> 0 0 0.00723758
56264.66864409.949203.72 0 0 18
>0 0 274.241
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
54305499 1091 107356264.66864409.949203.72 0 0 18
>0 0 590 21485.6 1953.5 5692652 5416275 5314749264.8351 276.2354.3140
>890.006216 0 00.005641 0 0 0 0.007237581
>
> 0 0.00783706
38160.51634133.736486.64 0 0 13
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
39901953 838 82538160.51634133.736486.64 0 0 13
>0 0 32815708.85 1515.29 4390596 4187543 4112413 259274.2417 4.236
>71 0 0 0 0 0 0 0 0.007837062
>
> 0 0.00557685
18104.15230276.312717.08 0 0 5
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
14403546 253 24818104.15230276.312717.08 0 0 5
>0 0 262 5776.75 438.21 1302056 1228733 1202337 281 281.7574.5284
>520.023429 0 00.021261 0 0 0 0.005576845
>
> 0 0
0 0 0 0 0 0
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
>
> 0 0
0 0 0 0 0 0
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
0 0.00723758 00.000992 0 0.1
>09
0 0.0
>88
BankruptREO Total Total Total
>
> Total Total Total
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0.007237581 00.000992 0 Apr-00 54.30550.1029
>87 0.0165450.983455
> 0.0165450.181436 0.1814364.31408921.02831
0 0.00783706 00.001014 0
BankruptREO Group I Group I Group
>I
> Group I Group I Group I
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa1or 2 padel_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0.007837062 00.001014 0 Apr-0039.901950.1081
>14 0.0165290.983471
> 0.0165290.181273 0.181273 4.2367121.39312
0 0.00557685 00.000929 0
BankruptREO Group IIGroup IIGroup
>II
> Group II Group II Group II
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0.005576845 00.000929 0 Apr-0014.403550.0887
>89 0.01659 0.98341
> 0.016590.181888 0.1818884.52845220.08279
0 0 0 0 0
BankruptREO
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0 0 0 0
BankruptREO
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
>
> Printing Pages Starting# Pages # Pag
>es
Total Total
>
> 1 1Contents 1 1
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity 2 2Certificate Payment Repo 2 2
> 0
21.02831913.6137 0 1 0 0
> 0 0 0
> 3 3Collection Account Repor 4 3
> 0
>
> 4 Credit Enhancement Report 0
>
> 5 4Collateral Report 7 3
> 0
>
> 6 5Delinquency Report 10 3
> 0
>
> 7 6REO Report 13 1
>
> 8 Foreclosure Report 0
>
> 9 7Prepayment Report 14 3
> 0
>
> 10 Prepayment Detail Report 0
>
> 11 8Realized Loss Report 17 3
> 0
>
> 12 Realized Loss Detail Report 0
>
> 13 Triggers, Adj. Rate Cert. and Mi 0
>
> 14 9Other Related Informatio 20 1
>
> 15 Additional Certificate Report 0
>
> 16 Historical Certificate Payment Report
>
> 17 Credit Ratings
>
> Total Total Total Number of Pages 20
Group I Group I Group I
> Group I Group I
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
21.39312670.6203 0 1 0 0
> 0 0 0
Group IIGroup II Group II
> Group II Group II
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
20.08279242.9933 0 1 0 0
> 0 0 0
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
# Pages Total # # Standard Pgs per Report
1 1
0 2 2 1
0 3 3 1
0 1 0
0 3 3 1
0 3 1 1
1 1
0 0
0 3 3 1
0 0
0 3 3 1
0 0
0 1 0
1 1
0 1 0
0 0
0 0
20
