SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: November 8, 2000
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(Date of earliest event reported)
CITICORP MORTGAGE SECURITIES, INC.
(Packager and Servicer)
(Issuer in Respect of the REMIC Pass-Through Certificates, Series 2000-5)
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(Exact name of registrant as specified in charter)
Delaware 333-72459 13-3408713
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(State or other juris- (Commission (I.R.S. Employer
diction of organization) File Nos.) Identification No.)
12855 North Outer Forty Drive, St. Louis, Missouri 63141
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(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (314) 851-6305
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(Former name, former address and former fiscal year, if changed since last
report.)
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Item 5. Other Events.
The following are Collateral Term Sheets prepared by Citicorp Mortgage
Securities, Inc. ("CMSI") in connection with the offering of its REMIC Pass-
Through Certificates, Series 2000-5. The information set forth in these
Collateral Term Sheets will be superseded in its entirety by the information
set forth in the final prospectus for the Series 2000-5 REMIC Pass-Through
Certificates and by any subsequent Collateral Term Sheets filed under Form 8-K
subsequent to the date hereof related to the Series 2000-5 REMIC Pass-Through
Certificates.
On November 21, 2000, CMSI is to transfer to the Trustee Mortgage Loans
(1) evidenced by Mortgage Notes with an aggregate Adjusted Balance outstanding
(after deducting principal payments due on or before November 1, 2000) as of
November 1, 2000 of $204,436,118.79. Information below is provided with respect
to all Mortgage Loans expected to be included in the Mortgage Pool.
The total number of Mortgage Loans as of November 1, 2000 was 533. The
weighted average interest rate on the Mortgage Loans (before deduction of
servicing fee) (the "Note Rate of the Mortgage Loans") as of November 1, 2000
was 8.055%. The weighted average remaining term to stated maturity of the
Mortgage Loans as of November 1, 2000 was 357.46 months. All Mortgage Loans
have original maturities of at least 20 but no more than 30 years. None of the
Mortgage Loans were originated prior to March 1, 1999 or after November 1,
2000. The weighted average original term to stated maturity of the Mortgage
Loans as of November 1, 2000 was 358.90 months.
None of the Mortgage Loans has a scheduled maturity later than November 1,
2030. Each Mortgage Loan has an original principal balance of not less than
$61,000 nor more than $1,303,400. Mortgage Loans having an aggregate Adjusted
Balance of $4,692,518 as of November 1, 2000 had loan-to-value ratios at
origination in excess of 80%, but no Mortgage Loans had loan-to-value ratios in
excess of 95%. The weighted average loan-to-value ratio at origination of the
Mortgage Loans as of November 1, 2000 was 72.5%. No more than $2,575,465 of the
Mortgage Loans are secured by Mortgaged Properties located in any one zip code.
At least 98% (2) of the Mortgage Loans are secured by Mortgaged Properties
determined by CitiMortgage, Inc. to be the primary residence of the borrower
("Mortgagor").
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1 Capitalized terms used herein and not defined have the meaning assigned
thereto in the form of Prospectus included in CMSI's Registration
Statement(333-72459).
2 Such Percentages are expressed as a percentage of the aggregate Adjusted
Balance of the Mortgage Loans having such characteristics relative to the
Adjusted Balance of all Mortgage Loans.
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At least 99% of the Mortgage Loans will be Mortgage Loans originated using
loan underwriting policies which require, among other things, proof of income
and liquid assets and telephone verification of employment, or are refinanced
Mortgage Loans originated using alternative or streamlined underwriting
policies. No more than 1% of the Mortgage Loans will be Mortgage Loans
originated using a loan underwriting policy which, among other things, requires
verification of employment and may require proof of liquid assets, but does not
require verification of income as stated on the loan application. No more than
14% of the Mortgage Loans will be refinanced Mortgage Loans originated using
alternative or streamlined underwriting policies.
All of the Mortgage Loans which had loan-to-value ratios greater than 80%
at origination had primary mortgage insurance as of such date. In the case of
the Mortgage Loans for which additional collateral was pledged, taken as a
group:
1. the number of such loans is 8;
2. such loans have an aggregate Adjusted Balance of $1,926,338;
3. the weighted average loan-to-value ratio of such loans, taking into
account the loanable value (as defined in the Prospectus) of the
additional pledged collateral, is 80%; and
4. the weighted average loan-to-value ratio of such loans, without
taking into account the loanable value of the additional pledged
collateral, is 99.3%.
Discount Mortgage Loans will consist of Mortgage Loans with Net Note Rates
(NNRs) less than 7.500%. Premium Mortgage Loans will consist of Mortgage Loans
with NNRs greater than or equal to 7.500%. The aggregate Adjusted Balance
outstanding as of the Cut-off Date of the Discount Mortgage Loans and the
Premium Mortgage Loans was $14,784,118 and $189,652,001, respectively. The
weighted average Note Rate of the Discount Mortgage Loans and the Premium
Mortgage Loans, as of the Cut-off Date, was 7.424% and 8.105%, respectively. The
weighted average remaining term to stated maturity of the Discount Mortgage
Loans and the Premium Mortgage Loans, as of the Cut-off Date, was 358.06 months
and 357.41 months, respectively.
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The following tables set forth information regarding the Mortgage Loans as
of November 1, 2000.
YEARS OF ORIGINATION OF MORTGAGE LOANS
Number of Aggregate Principal
Year Originated Loans Balances Outstanding
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1999 6 $1,640,199
2000 527 $202,795,920
Total 533 $204,436,119
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TYPES OF DWELLINGS SUBJECT TO MORTGAGE LOANS
Type of Number of Aggregate Principal
Dwelling Unit Loans Balances Outstanding
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Detached Houses 493 $188,370,395
Multi-family Dwellings* 3 $1,453,766
Townhouses 9 $3,281,604
Condominium Units (one to four 19 $6,638,077
stories high)
Condominium Units (over four 4 $2,709,934
stories high)
Cooperative Units 5 $1,982,343
Total 533 $204,436,119
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* Multi-family dwellings are 2-family
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NUMBER OF UNITS IN DWELLINGS SUBJECT TO MORTGAGE LOANS
Type of Number of Aggregate Principal
Dwelling Unit Loans Balances Outstanding
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1-family 530 $202,982,353
2-family 3 $1,453,766
Total 533 $204,436,119
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SIZE OF MORTGAGE LOANS
Outstanding Principal Number of Aggregate Principal
Balance by Loan Size Loans Balances Outstanding
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$149,999 and under 2 $158,153
$150,000 through $199,999 2 $349,429
$200,000 through $249,999 0 $0
$250,000 through $299,999 114 $32,570,908
$300,000 through $349,999 152 $49,756,998
$350,000 through $399,999 102 $38,341,993
$400,000 through $449,999 55 $23,452,584
$450,000 through $499,999 36 $17,394,757
$500,000 through $549,999 28 $14,709,366
$550,000 through $599,999 16 $9,227,175
$600,000 through $649,999 12 $7,622,712
$650,000 through $699,999 11 $7,550,792
$700,000 through $749,999 0 $0
$750,000 through $799,999 0 $0
$800,000 through $849,999 0 $0
$850,000 through $899,999 0 $0
$900,000 through $949,999 0 $0
$950,000 through $999,999 2 $1,998,748
$1,000,000 and over 1 $1,302,503
Total 533 $204,436,119
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DISTRIBUTION OF MORTGAGE LOANS BY NOTE RATES
Mortgage Loan Number of Aggregate Principal
Note Rate Loans Balances Outstanding
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6.750% - 7.00% 3 $936,628
7.010% - 7.500% 26 $9,537,245
7.510% - 8.000% 239 $94,948,039
8.010% - 8.500% 252 $93,989,483
8.510% - 9.000% 12 $4,735,618
9.010% - 9.125% 1 $289,105
Total 533 $204,436,119
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DISTRIBUTION OF MORTGAGE LOANS
BY LOAN-TO-VALUE RATIOS AT ORIGINATION
Number of Aggregate Principal
Loan-To-Value Ratio Loans Balances Outstanding
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65.00% and Below 109 $43,505,435
65.001% - 75.000% 107 $42,156,302
75.001% - 80.000% 303 $114,081,863
80.001% - 85.000% 0 $0
85.001% - 90.000% 13 $4,403,413
90.001% - 95.000% 1 $289,105
Total 533 $204,436,119
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<PAGE>
GEOGRAPHIC DISTRIBUTION OF
MORTGAGED PROPERTIES BY STATE
Number of Aggregate Principal
State Loans Balances Outstanding
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Alabama 2 $958,512
Arizona 6 $2,285,238
Arkansas 1 $491,321
California 240 $94,810,784
Colorado 19 $7,488,264
Connecticut 12 $4,886,032
District of Columbia 1 $299,616
Florida 12 $3,266,907
Georgia 21 $8,435,499
Hawaii 1 $629,566
Idaho 2 $581,251
Illinois 8 $3,407,126
Indiana 3 $1,553,929
Louisiana 1 $447,397
Maryland 8 $2,670,319
Massachusetts 21 $7,887,213
Michigan 3 $1,071,354
Minnesota 4 $1,274,669
Missouri 3 $1,066,384
Nevada 3 $1,396,903
New Jersey 16 $5,086,284
New Mexico 1 $363,768
New York 35 $14,045,372
North Carolina 16 $5,942,819
Ohio 3 $988,484
Oklahoma 1 $407,491
Oregon 6 $2,121,848
Pennsylvania 5 $1,601,803
South Carolina 1 $305,637
Tennessee 2 $1,074,840
Texas 35 $13,255,976
Utah 1 $349,541
Virginia 29 $10,408,499
Washington 11 $3,575,475
Total 533 $204,436,119
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<PAGE>
SIGNATURES
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 thereunto duly authorized.
CITICORP MORTGAGE SECURITIES, INC.
(Registrant)
By: /s/ Howard Darmstadter
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Howard Darmstadter
Assistant Secretary
Dated: November 8, 2000
