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Previous: PROVIDENT BANK, 8-K, 2000-08-04 |
Next: CSX CORP, 10-Q, 2000-08-04 |
<TABLE>
<CAPTION>
The Provident Bank
Mortgage Pass-Through Certificates
Record Date: 6/30/2000
Distribution Date: 7/25/2000
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 6.91125% 408,563,524.34 2,274,634.86 5,107,234.57
A-2 743844CZ3 SEQ 6.91125% 192,011,568.26 1,069,004.41 2,706,079.95
X-1 PRV0000X1 IO 3.83415% 0.00 1,305,414.10 0.00
X-2 PRV0000X2 IO 3.58622% 0.00 573,829.60 0.00
R PRV00000R RES 0.00000% 0.00 5.17 0.00
Totals 600,575,092.60 5,222,888.14 7,813,314.52
</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 0.00 403,456,289.77 7,381,869.43 0.00
A-2 0.00 189,305,488.31 3,775,084.36 0.00
X-1 0.00 0.00 1,305,414.10 0.00
X-2 0.00 0.00 573,829.60 0.00
R 0.00 0.00 5.17 0.00
Totals 0.00 592,761,778.08 13,036,202.66 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-1 418,000,000.00 408,563,524.34 418,338.51 4,688,896.06 0.00 0.00
A-2 197,000,000.00 192,011,568.26 89,036.66 2,617,043.29 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 615,000,000.00 600,575,092.60 507,375.17 7,305,939.35 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 5,107,234.57 403,456,289.77 0.96520643 5,107,234.57
A-2 2,706,079.95 189,305,488.31 0.96094157 2,706,079.95
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 7,813,314.52 592,761,778.08 0.96384029 7,813,314.52
</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-1 418,000,000.00 977.42469938 1.00080983 11.21745469 0.00000000
A-2 197,000,000.00 974.67801147 0.45196274 13.28448371 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 12.21826452 965.20643486 0.96520643 12.21826452
A-2 0.00000000 13.73644645 960.94156503 0.96094157 13.73644645
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 6.91125% 408,563,524.34 2,274,634.86 0.00 0.00
A-2 197,000,000.00 6.91125% 192,011,568.26 1,069,004.41 0.00 0.00
X-1 0.00 3.83415% 408,564,309.53 1,305,414.10 0.00 0.00
X-2 0.00 3.58622% 192,011,679.76 573,829.60 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 615,000,000.00 5,222,882.97 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 2,274,634.86 0.00 403,456,289.77
A-2 0.00 0.00 1,069,004.41 0.00 189,305,488.31
X-1 0.00 0.00 1,305,414.10 0.00 403,457,074.98
X-2 0.00 0.00 573,829.60 0.00 189,305,599.79
R 0.00 0.00 5.17 0.00 0.00
Totals 0.00 0.00 5,222,888.14 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 6.91125% 977.42469938 5.44171019 0.00000000 0.00000000
A-2 197,000,000.00 6.91125% 974.67801147 5.42641832 0.00000000 0.00000000
X-1 0.00 3.83415% 977.42474178 3.12299437 0.00000000 0.00000000
X-2 0.00 3.58622% 1003.34060096 2.99849747 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 5.44171019 0.00000000 965.20643486
A-2 0.00000000 0.00000000 5.42641832 0.00000000 960.94156503
X-1 0.00000000 0.00000000 3.12299437 0.00000000 965.20650026
X-2 0.00000000 0.00000000 2.99849747 0.00000000 989.20021165
R 0.00000000 0.00000000 92500.00000000 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 13,176,587.44
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 203,695.73
Realized Losses 0.00
Total Deposits 13,380,283.17
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 253,993.56
Payment of Interest and Principal 13,126,289.61
Total Withdrawals (Pool Distribution Amount) 13,380,283.17
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 250,239.96
Trustee Fee 3,753.60
MBIA FEE 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 253,993.56
</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
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
30 Days 132 16 3 0 151
8,432,212.95 1,385,469.24 256,068.89 0.00 10,073,751.08
60 Days 71 5 4 0 80
5,793,110.11 326,447.00 249,256.19 0.00 6,368,813.30
90 Days 7 4 39 0 50
405,775.23 262,621.43 3,374,516.98 0.00 4,042,913.64
120 Days 0 2 22 0 24
0.00 77,410.85 1,832,122.52 0.00 1,909,533.37
150 Days 0 0 7 0 7
0.00 0.00 298,134.02 0.00 298,134.02
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 210 27 75 0 312
14,631,098.29 2,051,948.52 6,010,098.60 0.00 22,693,145.41
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
30 Days 1.659960% 0.201207% 0.037726% 0.000000% 1.898893%
1.422528% 0.233731% 0.043199% 0.000000% 1.699458%
60 Days 0.892857% 0.062877% 0.050302% 0.000000% 1.006036%
0.977307% 0.055072% 0.042050% 0.000000% 1.074429%
90 Days 0.088028% 0.050302% 0.490443% 0.000000% 0.628773%
0.068455% 0.044305% 0.569286% 0.000000% 0.682046%
120 Days 0.000000% 0.025151% 0.276660% 0.000000% 0.301811%
0.000000% 0.013059% 0.309082% 0.000000% 0.322141%
150 Days 0.000000% 0.000000% 0.088028% 0.000000% 0.088028%
0.000000% 0.000000% 0.050296% 0.000000% 0.050296%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.640845% 0.339537% 0.943159% 0.000000% 3.923541%
2.468289% 0.346167% 1.013913% 0.000000% 3.828369%
</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
30 Days 106 12 2 0 120
6,095,373.80 910,107.37 147,386.61 0.00 7,152,867.78
60 Days 53 3 4 0 60
3,567,137.77 221,250.30 249,256.19 0.00 4,037,644.26
90 Days 7 4 28 0 39
405,775.23 262,621.43 2,222,709.06 0.00 2,891,105.72
120 Days 0 2 17 0 19
0.00 77,410.85 1,116,334.93 0.00 1,193,745.78
150 Days 0 0 6 0 6
0.00 0.00 234,134.02 0.00 234,134.02
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 166 21 57 0 244
10,068,286.80 1,471,389.95 3,969,820.81 0.00 15,509,497.56
30 Days 1.760505% 0.199302% 0.033217% 0.000000% 1.993024%
1.510786% 0.225577% 0.036531% 0.000000% 1.772894%
60 Days 0.880252% 0.049826% 0.066434% 0.000000% 0.996512%
0.884143% 0.054839% 0.061780% 0.000000% 1.000762%
90 Days 0.116260% 0.066434% 0.465039% 0.000000% 0.647733%
0.100575% 0.065093% 0.550916% 0.000000% 0.716583%
120 Days 0.000000% 0.033217% 0.282345% 0.000000% 0.315562%
0.000000% 0.019187% 0.276692% 0.000000% 0.295879%
150 Days 0.000000% 0.000000% 0.099651% 0.000000% 0.099651%
0.000000% 0.000000% 0.058032% 0.000000% 0.058032%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.757017% 0.348779% 0.946687% 0.000000% 4.052483%
2.495504% 0.364696% 0.983951% 0.000000% 3.844151%
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
30 Days 26 4 1 0 31
2,336,839.15 475,361.87 108,682.28 0.00 2,920,883.30
60 Days 18 2 0 0 20
2,225,972.34 105,196.70 0.00 0.00 2,331,169.04
90 Days 0 0 11 0 11
0.00 0.00 1,151,807.92 0.00 1,151,807.92
120 Days 0 0 5 0 5
0.00 0.00 715,787.59 0.00 715,787.59
150 Days 0 0 1 0 1
0.00 0.00 64,000.00 0.00 64,000.00
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 44 6 18 0 68
4,562,811.49 580,558.57 2,040,277.79 0.00 7,183,647.85
30 Days 1.346453% 0.207147% 0.051787% 0.000000% 1.605386%
1.234427% 0.251108% 0.057411% 0.000000% 1.542946%
60 Days 0.932160% 0.103573% 0.000000% 0.000000% 1.035733%
1.175862% 0.055570% 0.000000% 0.000000% 1.231432%
90 Days 0.000000% 0.000000% 0.569653% 0.000000% 0.569653%
0.000000% 0.000000% 0.608438% 0.000000% 0.608438%
120 Days 0.000000% 0.000000% 0.258933% 0.000000% 0.258933%
0.000000% 0.000000% 0.378112% 0.000000% 0.378112%
150 Days 0.000000% 0.000000% 0.051787% 0.000000% 0.051787%
0.000000% 0.000000% 0.033808% 0.000000% 0.033808%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.278612% 0.310720% 0.932160% 0.000000% 3.521491%
2.410289% 0.306678% 1.077769% 0.000000% 3.794736%
</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 203,695.73
</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 11.123259%
Weighted Average Net Coupon 10.615759%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity(Stepdown Calculation ) 284
Beginning Scheduled Collateral Loan Count 8,041
Number Of Loans Paid In Full 89
Ending Scheduled Collateral Loan Count 7,952
Beginning Scheduled Collateral Balance 600,575,989.29
Ending Scheduled Collateral Balance 592,762,674.77
Ending Actual Collateral Balance at 30-Jun-2000 592,762,674.77
Monthly P &I Constant 6,074,343.86
Ending Scheduled Balance for Premium Loans 592,762,674.77
</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 11.202527 10.954593
Weighted Average Net Rate 10.695027 10.447093
Weighted Average Maturity 255.00 354.00
Record Date 6/30/00 6/30/00
Principal And Interest Constant 4,232,465.62 1,841,878.24 6,074,343.86
Beginning Loan Count 6,085 1,956 8,041
Loans Paid In Full 64 25 89
Ending Loan Count 6,021 1,931 7,952
Beginning Scheduled Balance 408,564,309.53 192,011,679.76 600,575,989.29
Ending scheduled Balance 403,457,074.98 189,305,599.79 592,762,674.77
Scheduled Principal 418,338.51 89,036.66 507,375.17
Unscheduled Principal 4,688,896.06 2,617,043.29 7,305,939.35
Scheduled Interest 3,814,127.11 1,752,841.58 5,566,968.69
Servicing Fees 170,235.12 80,004.84 250,239.96
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 2,553.53 1,200.07 3,753.60
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 3,641,338.46 1,671,636.67 5,312,975.13
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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