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Previous: PROVIDENT BANK, 8-K, 2000-11-08 |
Next: BANCINSURANCE CORP, 10-Q, 2000-11-08 |
<TABLE>
<CAPTION>
The Provident Bank
Mortgage Pass-Through Certificates
Record Date: 09/30/2000
Distribution Date: 10/25/2000
PROVIDENT Series: 2000-1
Contact: Customer Service - CTSLink
Wells Fargo 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 6.88188% 393,616,572.94 2,257,351.68 5,088,262.58
A-2 743844CZ3 SEQ 6.88188% 186,497,217.47 1,069,542.89 1,359,652.25
X-1 PRV0000X1 IO 3.61376% 0.00 1,185,365.32 0.00
X-2 PRV0000X2 IO 3.38061% 0.00 525,421.48 0.00
R PRV00000R RES 0.00000% 0.00 7.49 0.00
Totals 580,113,790.41 5,037,688.86 6,447,914.83
</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 0.00 388,528,310.36 7,345,614.26 0.00
A-2 0.00 185,137,565.22 2,429,195.14 0.00
X-1 0.00 0.00 1,185,365.32 0.00
X-2 0.00 0.00 525,421.48 0.00
R 0.00 0.00 7.49 0.00
Totals 0.00 573,665,875.58 11,485,603.69 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-1 418,000,000.00 393,616,572.94 348,729.99 4,739,532.59 0.00 0.00
A-2 197,000,000.00 186,497,217.47 77,391.86 1,282,260.39 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 615,000,000.00 580,113,790.41 426,121.85 6,021,792.98 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 5,088,262.58 388,528,310.36 0.92949357 5,088,262.58
A-2 1,359,652.25 185,137,565.22 0.93978460 1,359,652.25
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 6,447,914.83 573,665,875.58 0.93279004 6,447,914.83
</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-1 418,000,000.00 941.66644244 0.83428227 11.33859471 0.00000000
A-2 197,000,000.00 946.68638310 0.39285208 6.50893599 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 12.17287699 929.49356545 0.92949357 12.17287699
A-2 0.00000000 6.90178807 939.78459503 0.93978460 6.90178807
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 6.88188% 393,616,572.94 2,257,351.68 0.00 0.00
A-2 197,000,000.00 6.88188% 186,497,217.47 1,069,542.89 0.00 0.00
X-1 0.00 3.61376% 393,617,358.15 1,185,365.32 0.00 0.00
X-2 0.00 3.38061% 186,497,328.95 525,395.61 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 615,000,000.00 5,037,655.50 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 0.01 0.00 2,257,351.68 0.00 388,528,310.36
A-2 0.00 0.00 1,069,542.89 0.00 185,137,565.22
X-1 0.00 0.00 1,185,365.32 0.00 388,529,095.57
X-2 0.00 0.00 525,421.48 0.00 185,137,930.75
R 0.00 0.00 7.49 0.00 0.00
Totals 0.01 0.00 5,037,688.86 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 6.88188% 941.66644244 5.40036287 0.00000000 0.00000000
A-2 197,000,000.00 6.88188% 946.68638310 5.42915173 0.00000000 0.00000000
X-1 0.00 3.61376% 941.66655206 2.83579687 0.00000000 0.00000000
X-2 0.00 3.38061% 974.52583270 2.74540980 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 0.00000002 0.00000000 5.40036287 0.00000000 929.49356545
A-2 0.00000000 0.00000000 5.42915173 0.00000000 939.78459503
X-1 0.00000000 0.00000000 2.83579687 0.00000000 929.49369794
X-2 0.00000000 0.00000000 2.74554498 0.00000000 967.42241374
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
Class Rate Balance Balance Balance Balance Percentage
<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 11,461,871.99
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 443,080.11
Realized Losses 0.00
Total Deposits 11,904,952.10
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 332,357.27
Payment of Interest and Principal 11,572,594.83
Total Withdrawals (Pool Distribution Amount) 11,904,952.10
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 241,714.56
Trustee Fee 3,625.71
MBIA 87,017.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 332,357.27
</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> LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<S> <C> <C> <C> <C> <C>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 27 12 0 39
1,814,923.70 932,917.74 0.00 2,747,841.44
30 Days 232 7 13 0 252
16,238,363.82 696,905.40 906,287.52 0.00 17,841,556.74
60 Days 81 9 12 0 102
6,617,499.74 649,903.61 1,261,240.02 0.00 8,528,643.37
90 Days 10 14 56 0 80
734,553.89 822,115.43 4,432,812.38 0.00 5,989,481.70
120 Days 0 7 45 0 52
0.00 594,263.64 3,450,224.30 0.00 4,044,487.94
150 Days 2 4 47 0 53
123,891.62 164,139.59 4,022,710.72 0.00 4,310,741.93
180+ Days 1 8 58 2 69
76,741.97 586,692.23 4,772,773.48 89,777.74 5,525,985.42
Totals 326 76 243 2 647
23,791,051.04 5,328,943.60 19,778,966.16 89,777.74 48,988,738.54
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0.349741% 0.155440% 0.000000% 0.505181%
0.316372% 0.162624% 0.000000% 0.478996%
30 Days 3.005181% 0.090674% 0.168394% 0.000000% 3.264249%
2.830625% 0.121483% 0.157981% 0.000000% 3.110089%
60 Days 1.049223% 0.116580% 0.155440% 0.000000% 1.321244%
1.153544% 0.113289% 0.219856% 0.000000% 1.486689%
90 Days 0.129534% 0.181347% 0.725389% 0.000000% 1.036269%
0.128045% 0.143309% 0.772715% 0.000000% 1.044069%
120 Days 0.000000% 0.090674% 0.582902% 0.000000% 0.673575%
0.000000% 0.103590% 0.601433% 0.000000% 0.705024%
150 Days 0.025907% 0.051813% 0.608808% 0.000000% 0.686528%
0.021596% 0.028612% 0.701227% 0.000000% 0.751436%
180+ Days 0.012953% 0.103627% 0.751295% 0.025907% 0.893782%
0.013377% 0.102271% 0.831976% 0.015650% 0.963274%
Totals 4.222798% 0.984456% 3.147668% 0.025907% 8.380829%
4.147188% 0.928926% 3.447813% 0.015650% 8.539577%
</TABLE>
<TABLE> Delinquency Status By Groups
<CAPTION>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<S> <C> <C> <C> <C> <C>
Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 23 9 0 32
1,504,345.38 604,003.07 0.00 2,108,348.45
30 Days 177 4 9 0 190
11,046,609.87 468,264.88 612,861.53 0.00 12,127,736.28
60 Days 55 5 10 0 70
3,898,598.13 365,530.91 768,921.56 0.00 5,033,050.60
90 Days 9 10 42 0 61
682,122.47 603,249.98 2,756,651.98 0.00 4,042,024.43
120 Days 0 6 36 0 42
0.00 318,530.79 2,436,663.40 0.00 2,755,194.19
150 Days 2 3 33 0 38
123,891.62 112,155.76 2,308,672.34 0.00 2,544,719.72
180 Days 1 7 44 2 54
76,741.97 532,308.24 3,006,421.40 89,777.74 3,705,249.35
Totals 244 58 183 2 487
15,827,964.06 3,904,385.94 12,494,195.28 89,777.74 32,316,323.02
0-29 Days 0.394106% 0.154215% 0.000000% 0.548321%
0.387190% 0.155459% 0.000000% 0.542649%
30 Days 3.032899% 0.068540% 0.154215% 0.000000% 3.255655%
2.843187% 0.120522% 0.157739% 0.000000% 3.121449%
60 Days 0.942426% 0.085675% 0.171350% 0.000000% 1.199452%
1.003425% 0.094081% 0.197906% 0.000000% 1.295412%
90 Days 0.154215% 0.171350% 0.719671% 0.000000% 1.045236%
0.175565% 0.155265% 0.709510% 0.000000% 1.040340%
120 Days 0.000000% 0.102810% 0.616861% 0.000000% 0.719671%
0.000000% 0.081984% 0.627151% 0.000000% 0.709135%
150 Days 0.034270% 0.051405% 0.565456% 0.000000% 0.651131%
0.031887% 0.028867% 0.594208% 0.000000% 0.654962%
180 Days 0.017135% 0.119945% 0.753941% 0.034270% 0.925291%
0.019752% 0.137006% 0.773796% 0.023107% 0.953661%
Totals 4.180946% 0.993831% 3.135709% 0.034270% 8.344757%
4.073817% 1.004915% 3.215768% 0.023107% 8.317607%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<S> <C> <C> <C> <C> <C>
Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 4 3 0 7
310,578.32 328,914.67 0.00 639,492.99
30 Days 55 3 4 0 62
5,191,753.95 228,640.52 293,425.99 0.00 5,713,820.46
60 Days 26 4 2 0 32
2,718,901.61 284,372.70 492,318.46 0.00 3,495,592.77
90 Days 1 4 14 0 19
52,431.42 218,865.45 1,676,160.40 0.00 1,947,457.27
120 Days 0 1 9 0 10
0.00 275,732.85 1,013,560.90 0.00 1,289,293.75
150 Days 0 1 14 0 15
0.00 51,983.83 1,714,038.38 0.00 1,766,022.21
180 Days 0 1 14 0 15
0.00 54,383.99 1,766,352.08 0.00 1,820,736.07
Totals 82 18 60 0 160
7,963,086.98 1,424,557.66 7,284,770.88 0.00 16,672,415.52
0-29 Days 0.212314% 0.159236% 0.000000% 0.371550%
0.167755% 0.177659% 0.000000% 0.345414%
30 Days 2.919321% 0.159236% 0.212314% 0.000000% 3.290870%
2.804263% 0.123497% 0.158490% 0.000000% 3.086251%
60 Days 1.380042% 0.212314% 0.106157% 0.000000% 1.698514%
1.468582% 0.153600% 0.265920% 0.000000% 1.888102%
90 Days 0.053079% 0.212314% 0.743100% 0.000000% 1.008493%
0.028320% 0.118218% 0.905358% 0.000000% 1.051895%
120 Days 0.000000% 0.053079% 0.477707% 0.000000% 0.530786%
0.000000% 0.148934% 0.547463% 0.000000% 0.696396%
150 Days 0.000000% 0.053079% 0.743100% 0.000000% 0.796178%
0.000000% 0.028078% 0.925817% 0.000000% 0.953895%
180 Days 0.000000% 0.053079% 0.743100% 0.000000% 0.796178%
0.000000% 0.029375% 0.954074% 0.000000% 0.983448%
Totals 4.352442% 0.955414% 3.184713% 0.000000% 8.492569%
4.301165% 0.769457% 3.934780% 0.000000% 9.005402%
<FN>
(7) Delinquencies are stratified according to the information the Sevicer has
provided. Bankruptcy, Foreclosure, and REO loans are reported in the 30-day
delinquency field.
</FN>
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 443,080.11
</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 11.108185%
Weighted Average Net Coupon 10.600685%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity(Stepdown Calculation ) 281
Beginning Scheduled Collateral Loan Count 7,791
Number Of Loans Paid In Full 71
Ending Scheduled Collateral Loan Count 7,720
Beginning Scheduled Collateral Balance 580,114,687.10
Ending Scheduled Collateral Balance 573,667,026.32
Ending Actual Collateral Balance at 30-Sep-2000 573,667,026.32
Monthly P &I Constant 5,796,142.13
Ending Scheduled Balance for Premium Loans 573,667,026.32
</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 11.183138 10.949993
Weighted Average Net Rate 10.675638 10.442493
Weighted Average Maturity 252.00 351.00
Beginning Loan Count 5,894 1,897 7,791
Loans Paid In Full 58 13 71
Ending Loan Count 5,836 1,884 7,720
Beginning Scheduled Balance 393,617,358.15 186,497,328.95 580,114,687.10
Ending scheduled Balance 388,529,095.57 185,137,930.75 573,667,026.32
Record Date 09/30/2000 09/30/2000
Principal And Interest Constant 4,016,960.96 1,779,181.17 5,796,142.13
Scheduled Principal 348,729.99 77,391.86 426,121.85
Unscheduled Principal 4,739,532.59 1,282,260.39 6,021,792.98
Scheduled Interest 3,668,230.97 1,701,789.31 5,370,020.28
Servicing Fees 164,007.23 77,707.33 241,714.56
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 2,460.10 1,165.61 3,625.71
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 3,501,763.64 1,622,916.37 5,124,680.01
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>
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