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) : December 20, 2000
MERRILL LYNCH MORTGAGE INVESTORS, INC., (as depositor under the Pooling and
Servicing Agreement, dated March 1, 2000 providing for the issuance of the
Merrill Lynch Mortgage Investors, Inc., First Franklin Mortgage Loan Asset
Backed Certificates, Series 2000-FF1).
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-81429-14 13-5674085
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
World Financial Center North Tower
250 Vesey Street, 10th Floor
New York, New York 10281-1310
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code : (212) 449-1000
N/A
(Former name or former address, if changed since last report.)
Page 1 of 4
This report consists of 9
consecutively numbered pages.
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Item 5. Other Events.
This report and the attached exhibit is being filed pursuant to "no-action"
positions taken by the Securities and Exchange Commission with respect to
alternative means of satisfying the Registrant's reporting obligations under the
Securities Exchange Act of 1934, as amended, with respect to the Registrant's
Merrill Lynch Mortgage Investors, Inc., First Franklin Mortgage Loan
Asset-Backed Certificates, Series 2000-FF1 (the "Certificates"). The
Certificates were issued, and this report and exhibit is being filed, pursuant
to the terms of the Pooling and Servicing Agreement, dated as of March 1, 2000
(the "Agreement"), among Merrill Lynch Mortgage Investors, Inc., as the
depositor (the "Depositer"), Litton Loan Servicing, LLP as the servicer (the
"Servicer"), and The Chase Manhattan Bank, as the trustee (the "Trustee").
On December 20, 2000 distribution was made to the Certificateholders.
Specific information with respect to the distribution is filed as Exhibit 99.1.
No other reportable transactions or matters have occurred during the current
reporting period.
Item 7. Financial Statements and Exhibits.
(a) Not applicable
(b) Not applicable
(c) The following exhibit is filed as part of this report:
Statement to Certificateholders on December 20, 2000,
as Exhibit 99.1.
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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.
THE CHASE MANHATTAN BANK,
not in its individual capacity but solely
as Trustee under the Agreement referred
to herein
Date: December 27, 2000 By: /s/ Karen Schluter
Karen Schluter
Trust Officer
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INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits
99.1 Monthly Certificateholder Statement on
December 20, 2000.
<PAGE>
Exhibit 99.1
Monthly Certificateholder Statement on December 20, 2000
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MERRILL LYNCH MORTGAGE INVESTORS, INC. FIRST FRANKLIN MORTGAGE LOAN ASSET BACKED CERTIFICATES SERIES 2000-FF1
STATEMENT TO CERTIFICATEHOLDERS
DECEMBER 20, 2000
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PAGE # 1
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DISTRIBUTION IN DOLLARS
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ORIGINAL BEGINNING ENDING
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE
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A 293,481,000.00 281,299,532.80 3,107,412.50 1,621,867.62 4,729,280.12 0.00 0.00 278,192,120.30
M1 15,492,000.00 15,492,000.00 0.00 92,548.56 92,548.56 0.00 0.00 15,492,000.00
M2 14,631,000.00 14,631,000.00 0.00 92,891.61 92,891.61 0.00 0.00 14,631,000.00
B 13,771,000.00 13,771,000.00 0.00 98,907.34 98,907.34 0.00 0.00 13,771,000.00
R2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
BB 16,250,000.00 12,636,688.57 462,360.52 84,244.59 546,605.11 0.00 0.00 12,174,328.05
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TOTALS 353,625,000.00 337,830,221.37 3,569,773.02 1,990,459.72 5,560,232.74 0.00 0.00 334,260,448.35
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IO1 293,481,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
IO2 15,492,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
IO3 14,631,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
IO4 13,771,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
X 344,259,895.90 0.00 0.00 0.00 0.00 0.00 0.00 0.00
C 6,884,895.90 6,839,124.40 0.00 0.00 0.00 0.00 0.00 6,839,124.40
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FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE PASS-THROUGH RATES
CURRENT
BEGINNING ENDING PASS-THRU
CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS RATE
--------------------------------------------------------------------------------------- ---------------------------------------
A 589929VD7 958.49316583 10.58812155 5.52631216 16.11443371 947.90504428 A 6.918750 %
M1 589929VE5 1,000.00000000 0.00000000 5.97395817 5.97395817 1,000.00000000 M1 7.168750 %
M2 589929VF2 1,000.00000000 0.00000000 6.34895838 6.34895838 1,000.00000000 M2 7.618750 %
B 589929VG0 1,000.00000000 0.00000000 7.18229177 7.18229177 1,000.00000000 B 8.618750 %
BB 589929VH8 777.64237354 28.45295508 5.18428246 33.63723754 749.18941846 BB 8.000000 %
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TOTALS 955.33466630 10.09479822 5.62873021 15.72352843 945.23986808
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IO1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 IO1 0.000000 %
IO2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 IO2 0.000000 %
IO3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 IO3 0.000000 %
IO4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 IO4 0.000000 %
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.000000 %
C 993.35189658 0.00000000 0.00000000 0.00000000 993.35189658 C 0.000000 %
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If there are any questions or problems with this statement, please contact
the Administrator listed below:
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KAREN DOBRES
THE CHASE MANHATTAN BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 14TH FLOOR
NEW YORK, NEW YORK 10001
Tel: (212)946-3232
Email: [email protected]
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(C) COPYRIGHT 2000, CHASE MANHATTAN CORPORATION
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MERRILL LYNCH MORTGAGE INVESTORS, INC. FIRST FRANKLIN MORTGAGE LOAN ASSET BACKED CERTIFICATES SERIES 2000-FF1
DECEMBER 20, 2000
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PAGE # 2
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Class A Interest Carry Forward Amount 0.00
Class M1 Interest Carry Forward Amount 0.00
Class M2 Interest Carry Forward Amount 0.00
Class B Interest Carry Forward Amount 0.00
Class A Basis Risk Shortfall 0.00
Class M1 Basis Risk Shortfall 0.00
Class M2 Basis Risk Shortfall 0.00
Class B Basis Risk Shortfall 0.00
Class A Unpaid Realized Loss Amount N/A
Class M1 Unpaid Realized Loss Amount 0.00
Class M2 Unpaid Realized Loss Amount 0.00
Class B Unpaid Realized Loss Amount 0.00
Class A Applied Realized Loss Amount N/A
Class M1 Applied Realized Loss Amount 0.00
Class M2 Applied Realized Loss Amount 0.00
Class B Applied Realized Loss Amount 0.00
Class A Applied Realized Amortization Amount N/A
Class M1 Applied Realized Amortization Amount 0.00
Class M2 Applied Realized Amortization Amount 0.00
Class B Applied Realized Amortization Amount 0.00
Class X Distributable Amount 0.00
Interest Distribution Amount 1,906,215.13
Principal Distribution Amount 3,107,412.50
Monthly Excess Cash Flow Amount 591,621.61
Extra Principal Distribution Amount 46,073.52
Monthly Excess Interest Amount 591,621.61
Targeted Overcollateralization Amount 6,885,197.92
Overcollateralization Amount 6,885,197.92
Overcollateralization Deficiency Amount 0.00
Overcollateralization Release Amount 0.00
Servicing Compensation 138,366.41
Current Advances 2,263,955.14
Special Servicing Fees 7,750.00
(C) COPYRIGHT 2000, CHASE MANHATTAN CORPORATION
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MERRILL LYNCH MORTGAGE INVESTORS, INC. FIRST FRANKLIN MORTGAGE LOAN ASSET BACKED CERTIFICATES SERIES 2000-FF1
DECEMBER 20, 2000
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PAGE # 3
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Mortgage Loan Information
Loan Count 2,558
Beginning Stated Principal Balance of the Mortgage Loans 332,079,930.72
Ending Stated Principal Balance of the Mortgage Loans 328,971,318.22
Principal and Interest Collected 5,562,485.45
Weighted Average Remaining Term 348.70
Weighted Average Mortgage Rate 9.3591 %
Aggregate Amount of Prepayments 2,873,616.02
Aggregate Amount of Realized Losses 47,273.52
Prepayment Interest Shortfall Amt not covered by servicer 0.00
Relief Act Interest Shortfalls 0.00
Extraordinary Trust Fund Expenses 0.00
Unpaid Principal Balance of a Substituted Loan 0.00
Prepayment Penalties 49,529.45
DELINQUENCY INFORMATION
Delinquency Listing
Number of Loans 30 Days Delinquent 70
Balance of Loans 30 Days Delinquent 9,364,745.31
Number of Loans 60 Days Delinquent 18
Balance of Loans 60 Days Delinquent 2,065,335.38
Number of Loans 90 + Days Delinquent 77
Balance of Loans 90 + Days Delinquent 8,359,078.51
Loans in Foreclosure
Number of 30 Day Foreclosures 1
Balance of 30 Day Foreclosures 87,367.44
Number of 60 Day Foreclosures 4
Balance of 60 Day Foreclosures 631,095.55
Number of 90 Day Foreclosures 44
Balance of 90 Day Foreclosures 5,037,046.67
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Group Totals
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Number Principal Balance Percentage
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49 5,755,509.66 1.75 %
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MERRILL LYNCH MORTGAGE INVESTORS, INC. FIRST FRANKLIN MORTGAGE LOAN ASSET BACKED CERTIFICATES SERIES 2000-FF1
DECEMBER 20, 2000
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PAGE # 4
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Bankruptcy
Number of 30 Day Bankruptcies 0
Balance of 30 Day Bankruptcies 0.00
Number of 60 Day Bankruptcies 1
Balance of 60 Day Bankruptcies 138,309.10
Number of 90 Day Bankruptcies 8
Balance of 90 Day Bankruptcies 1,139,426.07
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Group 1
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Number Principal Balance Percentage
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9 1,277,735.17 0.39 %
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Total Number of REO Loans 4
Total Balance of REO Loans 266,825.85
The Three-month Rolling Average of 60+ Day Delinquent Loan 3.13 %
Servicer Termination Event NO
Basis Risk Reserve Fund 5,000.00
Interest Reserve Account 252,733.77
(C) COPYRIGHT 2000, CHASE MANHATTAN CORPORATION
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