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Previous: PROVIDENT BANK, 8-K, 2000-06-08 |
Next: BABSON D L TAX FREE INCOME FUND INC, 497, 2000-06-08 |
<TABLE>
<CAPTION>
The Provident Bank
Mortgage Pass-Through Certificates
Record Date: 4/30/2000
Distribution Date: 5/25/2000
PROVIDENT 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-1 743844CY6 SEQ 6.40500% 417,025,498.71 2,225,873.60 4,542,637.02
A-2 743844CZ3 SEQ 6.40500% 196,201,817.85 1,047,227.20 1,817,717.90
X-1 PRV0000X1 IO 4.11703% 0.00 1,430,756.61 0.00
X-2 PRV0000X2 IO 3.86065% 0.00 631,222.81 0.00
R PRV00000R RES 0.00000% 0.00 0.00 0.00
Totals 613,227,316.56 5,335,080.22 6,360,354.92
</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-1 0.00 412,482,861.69 6,768,510.62 0.00
A-2 0.00 194,384,099.95 2,864,945.10 0.00
X-1 0.00 0.00 1,430,756.61 0.00
X-2 0.00 0.00 631,222.81 0.00
R 0.00 0.00 0.00 0.00
Totals 0.00 606,866,961.64 11,695,435.14 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-1 418,000,000.00 417,025,498.71 336,435.51 4,206,201.51 0.00 0.00
A-2 197,000,000.00 196,201,817.85 74,420.90 1,743,297.00 0.00 0.00
X-1 0.00 0.00 0.00 0.00 0.00 0.00
X-2 0.00 0.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 615,000,000.00 613,227,316.56 410,856.41 5,949,498.51 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 4,542,637.02 412,482,861.69 0.98680110 4,542,637.02
A-2 1,817,717.90 194,384,099.95 0.98672132 1,817,717.90
X-1 0.00 0.00 0.00000000 0.00
X-2 0.00 0.00 0.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 6,360,354.92 606,866,961.64 0.98677555 6,360,354.92
</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-1 418,000,000.00 997.66865720 0.80486964 10.06268304 0.00000000
A-2 197,000,000.00 995.94831396 0.37777107 8.84922335 0.00000000
X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
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-1 0.00000000 10.86755268 986.80110452 0.98680110 10.86755268
A-2 0.00000000 9.22699442 986.72131954 0.98672132 9.22699442
X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R 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-1 418,000,000.00 6.40500% 417,025,498.71 2,225,873.60 0.00 0.00
A-2 197,000,000.00 6.40500% 196,201,817.85 1,047,227.20 0.00 0.00
X-1 0.00 4.11703% 417,026,283.90 1,430,756.62 0.00 0.00
X-2 0.00 3.86065% 190,574,198.86 631,222.81 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 615,000,000.00 5,335,080.23 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-1 0.00 0.00 2,225,873.60 0.00 412,482,861.69
A-2 0.00 0.00 1,047,227.20 0.00 194,384,099.95
X-1 0.00 0.00 1,430,756.61 0.00 412,483,646.88
X-2 0.00 0.00 631,222.81 0.00 194,384,099.96
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 5,335,080.22 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-1 418,000,000.00 6.40500% 997.66865720 5.32505646 0.00000000 0.00000000
A-2 197,000,000.00 6.40500% 995.94831396 5.31587411 0.00000000 0.00000000
X-1 0.00 4.11703% 997.66866158 3.42285630 0.00000000 0.00000000
X-2 0.00 3.86065% 995.82916753 3.29840078 0.00000000 0.00000000
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
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-1 0.00000000 0.00000000 5.32505646 0.00000000 986.80110452
A-2 0.00000000 0.00000000 5.31587411 0.00000000 986.72131954
X-1 0.00000000 0.00000000 3.42285627 0.00000000 986.80112931
X-2 0.00000000 0.00000000 3.29840078 0.00000000 1015.73747969
R 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 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>
C 1,200.00000% 0.00 0.00 0.00 0.00 0.00000000%
PROV 0.00000% 0.00 0.00 0.00 0.00 0.00000000%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 11,961,327.12
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 85,440.60
Realized Losses 0.00
Total Deposits 12,046,767.72
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 259,344.38
Payment of Interest and Principal 11,787,423.34
Total Withdrawals (Pool Distribution Amount) 12,046,767.72
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 255,511.82
Trustee Fee 3,832.71
MIBA Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 259,344.53
</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
Reserve Fund 5,000.00 0.00 0.00 5,000.00
Reserve Fund 39,710,000.00 0.00 0.00 39,710,000.00
Reserve Fund 26,595,000.00 0.00 0.00 26,595,000.00
</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 89 6,289,868.01 1.096059% 1.036448%
60 Days 33 2,536,046.96 0.406404% 0.417891%
90+ Days 8 336,241.96 0.098522% 0.055406%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 130 9,162,156.93 1.600985% 1.509745%
</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 Class A Insufficient Funds 0.00
Periodic Advance 85,440.60
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
Class X-1 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
Class X-2 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 11.127495%
Weighted Average Net Coupon 10.619995%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity(Stepdown Calculation ) 286
Beginning Scheduled Collateral Loan Count 8,133
Number Of Loans Paid In Full 13
Ending Scheduled Collateral Loan Count 8,120
Beginning Scheduled Collateral Balance 607,600,482.75
Ending Scheduled Collateral Balance 606,867,858.33
Ending Actual Collateral Balance at 30-Apr-2000 606,867,746.82
Monthly P &I Constant 6,097,269.40
Ending Scheduled Balance for Premium Loans 606,867,858.33
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2 Total
Collateral Description Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 11.209526 10.953139
Weighted Average Net Rate 10.702026 10.445639
Weighted Average Maturity 257.00 356.00
Beginning Loan Count 6,191 1,942 8,133
Loans Paid In Full 51 (38) 13
Ending Loan Count 6,140 1,980 8,120
Beginning Scheduled Balance 417,026,283.90 190,574,198.85 607,600,482.75
Ending scheduled Balance 412,483,646.88 194,384,211.45 606,867,858.33
Record Date 4/30/00 4/30/00
Principal And Interest Constant 4,231,991.40 1,865,278.00 6,097,269.40
Scheduled Principal 336,435.51 74,420.92 410,856.43
Unscheduled Principal 4,206,201.51 1,743,551.05 5,949,752.56
Scheduled Interest 3,895,555.89 1,790,857.08 5,686,412.97
Servicing Fees 173,760.95 81,750.87 255,511.82
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 2,606.42 1,226.29 3,832.71
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 3,719,188.52 1,707,879.92 5,427,068.44
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C> <C> <C> <C> <C> <C>
Group 30 Days 60 Days 90 + Days Foreclosure REO Bankruptcy
1 Principal Balance 4,645,923.73 1,820,259.37 272,241.96 0.00 0.00 0.00
Percentage Of Balance 1.126% 0.441% 0.066% 0.000% 0.000% 0.000%
Loan Count 74 28 7 0 0 0
Percentage Of Loans 1.205% 0.456% 0.114% 0.000% 0.000% 0.000%
2 Principal Balance 1,643,944.28 715,787.59 64,000.00 0.00 0.00 0.00
Percentage Of Balance 0.846% 0.368% 0.033% 0.000% 0.000% 0.000%
Loan Count 15 5 1 0 0 0
Percentage Of Loans 0.758% 0.253% 0.051% 0.000% 0.000% 0.000%
Totals:Principal Balance 6,289,868.01 2,536,046.96 336,241.96 0.00 0.00 0.00
Percentage of Balance 1.036% 0.418% 0.055% 0.000% 0.000% 0.000%
Loan Count 89 33 8 0 0 0
Percentage Of Loans 1.096% 0.406% 0.099% 0.000% 0.000% 0.000%
</TABLE>
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