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Previous: NETRIX CORP, 4, 2000-04-10 |
Next: RADIAN GROUP INC, DEF 14A, 2000-04-10 |
<PAGE>
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): April 17, 2000
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE
------------------------------------------------
PASS-THROUGH CERTIFICATE TRUST 2000-1
-------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 33-36743 applied for
- --------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employee
of incorporation) file numbers) identification no.)
1100 Landmark Towers, 345 St. Peter Street, Saint Paul, Minnesota 55102-1639
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (651) 293-3400
--------------
Not Applicable
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report.)
<PAGE>
Item 5. Other Events.
Pursuant to the Pooling and Servicing Agreement between Conseco
Finance Corp. (the "Servicer") and Firstar Trust Company (the
"Trustee"), on April 17, 2000, the Trustee made distributions to the
holders of the certificates representing interests in the Trust (the
"Certificateholders") and delivered to the Certificateholders the
Monthly Report required by Section 6.02 of the Pooling and Servicing
Agreement attached hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
The following is filed herewith. The exhibit number corresponds
with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99.1 Monthly Report delivered to
Certificateholders on
April 17, 2000.
<PAGE>
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.
Dated: April 17, 2000
MANUFACTURED HOUSING CONTRACT
SENIOR/SUBORDINATE PASS-THROUGH
CERTIFICATE TRUST 2000-1
By CONSECO FINANCE CORP.
as Servicer with respect to the Trust
By: /s/ Phyllis A. Knight
------------------------------------
PHYLLIS A. KNIGHT
Senior Vice President and Treasurer
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Page
- ------- ----
99.1 Monthly Report delivered to Certificateholders 5
on April 17, 2000.
<PAGE>
EXHIBIT 99.1
CONSECO FINANCE CORP.
CERTIFICATE OF SERVICING OFFICER
The undersigned certifies that she is Senior Vice President and Treasurer of
Conseco Finance Corp., a Delaware corporation (the "Company"), and that as such
she is duly authorized to execute and deliver this certificate on behalf of the
Company pursuant to Section 6.02 of the Pooling and Servicing Agreement (the
"Agreement") dated February 1, 2000, (2000-1), between the Company and U.S.Bank
National Association, as Trustee (all capitalized terms used herein without
definition having the respective meanings specified in the Agreement), and
further certifies that:
1. The Monthly Report for the period from February 1 to March 15, 2000
attached to this certificate is complete and accurate in accordance with
the requirements of Sections 6.01 and 6.02 of the Agreement; and
2. As of the date hereof, no Event of Termination or event that with notice or
lapse of time or both would become an Event of Termination has occurred.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 28th day of March,
2000.
CONSECO FINANCE CORP.
BY: /s/ Phyllis A. Knight
--------------------------------
Phyllis A. Knight
Senior Vice President and
Treasurer
<PAGE>
SERIES 2000-1
CERTIFICATES for MANUFACTURED HOUSING LOANS
MONTHLY REPORT Mar-00
CUSIP NO.#20847Q-BK3, BL1, BM9,
BN7, BP2, BQ0, BR8,BS6,BT4
TRUST ACCOUNT #3338029-0
REMITTANCE DATE 4/03/2000
<TABLE>
<CAPTION>
Total $ Per $1,000
Amount Original
--------------- -------------
<S> <C> <C>
CLASS A CERTIFICATES
- --------------------
(1a) Amount available( including Monthly Servicing Fee) 21,230,325.37
--------------
(b) Class M-1 Interest Deficiency Amount (if any) and Class B-1 Interest
Deficiency Amount (if any) withdrawn for prior Remittance Date 0.00
--------------
(c) Amount Available after giving effect to withdrawal of Class M-1 Interest
Deficiency Amount and Class B-1 Interest Deficiency Amount for prior
Remittance Date 21,230,325.37
--------------
(d) Amount withdrawn from (Capitalized Interest)(Pre-Funding) Account 888,706.58
--------------
A. Interest
(2) Aggregate interest
a. Class A-1 Remittance Rate (6.84%) 6.84000%
--------------
b. Class A-1 Interest 1,394,695.00 10.07000000
-------------- ------------
c. Class A-2 Remittance Rate (7.19%) 7.19%
--------------
d. Class A-2 Interest 423,411.11 10.58527775
-------------- ------------
e. Class A-3 Remittance Rate (7.30%) 7.30%
--------------
f. Class A-3 Interest 1,402,512.50 10.74722222
-------------- ------------
g. Class A-4 Remittance Rate (7.62%) 7.62%
--------------
h. Class A-4 Interest 1,402,291.67 11.21833336
-------------- ------------
i. Class A-5 Remittance Rate (8.06%) 8.06%
--------------
j. Class A-5 Interest 3,714,092.78 11.86611112
-------------- ------------
(3) Amount applied to:
a. Unpaid Class A Interest Shortfall 0.00 0
-------------- ------------
(4) Remaining:
a. Unpaid Class A Interest Shortfall 0.00 0
-------------- ------------
B. Principal
(5) Formula Principal Distribution Amount 11,993,013.89 N/A
-------------- ------------
a. Scheduled Principal 478,687.74 N/A
-------------- ------------
b. Principal Prepayments 9,879,316.20 N/A
-------------- ------------
c. Liquidated Contracts 0.00 N/A
-------------- ------------
d. Repurchases 0.00 N/A
-------------- ------------
e. Current Month Advanced Principal 1,635,009.95 N/A
-------------- ------------
f. Prior Month Advanced Principal 0.00 N/A
-------------- ------------
g. Additional Principal Distribution 0.00
--------------
(6) Pool Scheduled Principal Balance 719,505,502.82
--------------
(6b) Adjusted Pool Principal Balance 717,870,492.87 809.78058981
-------------- ------------
(6c) Pool Factor 0.80978059
--------------
(6d) Net Certificate Principal Balance 874,506,986.11
--------------
(6e) Overcollateralization Amount 13,500,000.00
--------------
(6f) Prefunded Amount 170,136,493.24
--------------
</TABLE>
<PAGE>
SERIES 2000-1
CERTIFICATES for MANUFACTURED HOUSING LOANS
MONTHLY REPORT Mar-00
CUSIP NO.#20847Q-BK3, BL1, BM9,
BN7, BP2, BQ0, BR8,BS6,BT4
TRUST ACCOUNT #3338029-0
REMITTANCE DATE 4/03/2000
Page 2
<TABLE>
<CAPTION>
<S> <C> <C>
(7) Unpaid Class A Principal Shortfall
(if any) following prior Remittance Date 0.00
--------------
(8) Class A Percentage for such Remittance Date 93.40%
--------------
(9) Class A Percentage for the following Remittance Date 93.31%
--------------
(10) Class A Principal Distribution:
a. Class A-1 11,993,013.89 86.59215805
-------------- ------------
b. Class A-2 0.00 0.00000000
-------------- ------------
c. Class A-3 0.00 0.00000000
-------------- ------------
d. Class A-4 0.00 0.00000000
-------------- ------------
e. Class A-5 0.00 0.00000000
-------------- ------------
(11) Class A-1 Principal Balance 126,506,986.11 913.40784195
-------------- ------------
(11a) Class A-1 Pool Factor 0.91340784
--------------
(12) Class A-2 Principal Balance 40,000,000.00 1000.0000000
-------------- ------------
(12a) Class A-2 Pool Factor 1.00000000
--------------
(13) Class A-3 Principal Balance 130,500,000.00 1000.0000000
-------------- ------------
(13a) Class A-3 Pool Factor 1.00000000
--------------
(14) Class A-4 Principal Balance 125,000,000.00 1000.0000000
-------------- ------------
(14a) Class A-4 Pool Factor 1.00000000
--------------
(15) Class A-5 Principal Balance 313,000,000.00 1000.0000000
-------------- ------------
(15a) Class A-5 Pool Factor 1.00000000
--------------
(16) Unpaid Class A Principal Shortfall
(if any)following current Remittance Date 0.00
--------------
C. Aggregate Scheduled Balances and Number of Delinquent
Contracts as of Determination Date
(17) 31-59 days 1,767,160.83 39
-------------- ------------
(18) 60 days or more 787,550.71 13
-------------- ------------
(19) Current Month Repossessions 0.00 0
-------------- ------------
(20) Repossession Inventory 0.00 0
-------------- ------------
</TABLE>
Please contact Bondholder Services Department of U.S. Bank National Association,
1-800-934-6802 with any questions regarding this statement or your Distribution.
<PAGE>
SERIES 2000-1
CERTIFICATES for MANUFACTURED HOUSING LOANS
MONTHLY REPORT Mar-00
CUSIP NO.#20847Q-BK3, BL1, BM9,
BN7, BP2, BQ0, BR8,BS6,BT4
TRUST ACCOUNT #3338029-0
REMITTANCE DATE 4/03/2000
Page 3
<TABLE>
<CAPTION>
<S> <C> <C>
Class M-1, M-2 Distribution Test and Class B Distribution Test
(applicable on and after the Remittance Date occurring in March, 2003.)
(21) Average Sixty - Day Delinquency Ratio Test
(a) Sixty - Day Delinquency Ratio for current Remittance Date 0.11%
-------------
(b) Average Sixty - Day Delinquency Ratio (arithmetic average
of ratios for this month and two preceding months;
may not exceed 4.5%) 0.05%
-------------
(22) Average Thirty - Day Delinquency Ratio
(a) Thirty - Day Delinquency Ratio for current Remittance Date 0.36%
-------------
(b) Average Thirty - Day Delinquency Ratio (arithmetic average
of ratios for this month and two preceding months;
may not exceed N/A% (no test)) 0.14%
-------------
(23) Cumulative Realized Losses Test
(a) Cumulative Realized Losses for current Remittance Date
(as a percentage of Cut-off Date Pool Principal Balance:
may not exceed 5.5% from March 1, 2003 to February 29, 2004;
7.0% from March 1, 2004 to February 28, 2005; 9.0% from March 1,
2005, to February 28, 2006 and 10.5% thereafter) 0.24
-------------
(24) Current Realized Losses Test
(a) Current Realized Losses for current Remittance Date 0.00
-------------
(b) Current Realized Loss Ratio (total Realized Losses for the most
recent three months, multiplied by 4, divided by arithmetic
average of Pool Scheduled Principal Balances for third
preceding Remittance and for current Remittance Date;
may not exceed 2.75%) 0.77%
-------------
(25) Class M-1 Principal Balance Test
(a) The sum of Class M Principal Balance and Class B Principal Balance
(before distributions on current Remittance Date) divided by
Pool Scheduled Principal Balance as of preceding Remittance Date
is greater than 24.375% 15.74%
-------------
(26) Class M-2 Principal Balance Test
(a) The sum of Class M-2 Principal Balance and Class B Principal Balance
(before distributions on current Remittance Date) divided by
Pool Scheduled Principal Balance as of preceding Remittance Date
is greater than 16.50% 10.66%
-------------
(27) Class B Principal Balance Test
(a) Class B Principal Balance (before any distributions on current
Remittance Date) as of such Remittance date is greater than
$14,000,000.00 58,500,000.00
-------------
(b) Class B Principal Balance (before distributions on current
Remittance Date) divided by pool Scheduled Principal Balance
as of preceding Remittance Date is equal to or greater than 12%. 6.60%
-------------
</TABLE>
<PAGE>
SERIES 2000-1
CERTIFICATES for MANUFACTURED HOUSING LOANS
MONTHLY REPORT Mar-00
CUSIP NO.#20847Q-BK3, BL1, BM9,
BN7, BP2, BQ0, BR8,BS6,BT4
TRUST ACCOUNT #3338029-0
REMITTANCE DATE 4/03/2000
Page 4
<TABLE>
<CAPTION>
Total $ Per $1,000
Amount Original
--------------- -------------
<S> <C> <C>
CLASS M-1 CERTIFICATES
- ----------------------
(28) Amount available( including Monthly Servicing Fee) 1,789,015.00
-------------
A. Interest
(29) Aggregate interest
(a) Class M-1 Remittance Rate 8.30%, unless the
Weighted Average Contract Rate is less than 8.30%) 8.30%
-------------
(b) Class M-1 Interest 549,875.00 12.21944444
------------- -------------
(c) Interest on Class M-1 Adjusted Principal Balance 0.00
-------------
(30) Amount applied to Class M-1 Interest Deficiency Amount 0.00
-------------
(31) Remaining unpaid Class M-1 Interest Deficiency Amount 0.00
-------------
(32) Amount applied to:
a. Unpaid Class M-1 Interest Shortfall 0.00 0
------------- -------------
(33) Remaining:
a. Unpaid Class M-1 Interest Shortfall 0.00 0
------------- -------------
B. Principal
(34) Formula Principal Distribution Amount 0.00 N/A
------------- -------------
a. Scheduled Principal 0.00 N/A
------------- -------------
b. Principal Prepayments 0.00 N/A
------------- -------------
c. Liquidated Contracts 0.00 N/A
------------- -------------
d. Repurchases 0.00 N/A
------------- -------------
(35) Class M-1 Principal Balance 45,000,000.00 1000.00000000
------------- -------------
(35a) Class M-1 Pool Factor 1.00000000
-------------
(36) Class M-1 Percentage for such Remittance Date 0.00%
-------------
(37) Class M-1 Principal Distribution:
a. Class M-1 (current) 0.00 0.00000000
------------- -------------
b. Unpaid Class M-1 Principal Shortfall
(if any) following prior Remittance Date 0.00
-------------
(38) Unpaid Class M-1 Principal Shortfall
(if any) following current Remittance Date 0.00
-------------
(39) Class M-1 Percentage for the following Remittance Date 0.00%
-------------
(40) Class M-1 Liquidation Loss Interest
(a) Class M-1 Liquidation Loss Amount 0.00
-------------
(b) Amount applied to Class M-1
Liquidation Loss Interest Amount 0.00
-------------
(c) Remaining Class M-1 Liquidation Loss
Interest Amount 0.00
-------------
(d) Amount applied to Unpaid Class M-1
Loss Interest Shortfall 0.00
-------------
(e) Remaining Unpaid Class M-1
Liquidation Loss Interest Shortfalls 0.00
-------------
</TABLE>
* Subject to a maximum rate equal to the Weighted Average Contract Rate
<PAGE>
SERIES 2000-1
CERTIFICATES for MANUFACTURED HOUSING LOANS
MONTHLY REPORT Mar-00
CUSIP NO.#20847Q-BK3, BL1, BM9,
BN7, BP2, BQ0, BR8,BS6,BT4
TRUST ACCOUNT #3338029-0
REMITTANCE DATE 4/03/2000
Page 5
<TABLE>
<CAPTION>
Total $ Per $1,000
Amount Original
--------------- -------------
<S> <C> <C>
CLASS M-2 CERTIFICATES
- ----------------------
(41) Amount available( including Monthly Servicing Fee) 1,239,140.00
-------------
A. Interest
(42) Aggregate interest
(a) Class M-2 Remittance Rate9.08%, unless the
Weighted Average Contract Rate is less than 9.08%) 9.08%
-------------
(b) Class M-2 Interest 481,240.00 13.36777778
------------- -------------
(c) Interest on Class M-2 Adjusted Principal Balance 0.00
-------------
(43) Amount applied to Class M-2 Interest Deficiency Amount 0.00
-------------
(44) Remaining unpaid Class M-2 Interest Deficiency Amount 0.00
-------------
(45) Amount applied to:
a. Unpaid Class M-2 Interest Shortfall 0.00 0
------------- -------------
(46) Remaining:
a. Unpaid Class M-2 Interest Shortfall 0.00 0
------------- -------------
B. Principal
(47) Formula Principal Distribution Amount 0.00 N/A
------------- -------------
a. Scheduled Principal 0.00 N/A
------------- -------------
b. Principal Prepayments 0.00 N/A
------------- -------------
c. Liquidated Contracts 0.00 N/A
------------- -------------
d. Repurchases 0.00 N/A
------------- -------------
(48) Class M-2 Principal Balance 36,000,000.00 1000.00000000
------------- -------------
(48a) Class M-2 Pool Factor 1.00000000
-------------
(49) Class M-2 Percentage for such Remittance Date 0.00%
-------------
(50) Class M-2 Principal Distribution:
a. Class M-2 (current) 0.00 0.00000000
------------- -------------
b. Unpaid Class M-2 Principal Shortfall
(if any) following prior Remittance Date 0.00
-------------
(51) Unpaid Class M-2 Principal Shortfall
(if any) following current Remittance Date 0.00
-------------
(52) Class M-2 Percentage for the following Remittance Date 0.00%
-------------
(53) Class M-2 Liquidation Loss Interest
(a) Class M-2 Liquidation Loss Amount 0.00
-------------
(b) Amount applied to Class M-2
Liquidation Loss Interest Amount 0.00
-------------
(c) Remaining Class M-2 Liquidation Loss
Interest Amount 0.00
-------------
(d) Amount applied to Unpaid Class M-2
Loss Interest Shortfall 0.00
-------------
(e) Remaining Unpaid Class M-2
Liquidation Loss Interest Shortfalls 0.00
-------------
</TABLE>
* Subject to a maximum rate equal to the Weighted Average Contract Rate
<PAGE>
SERIES 2000-1
CERTIFICATES for MANUFACTURED HOUSING LOANS
MONTHLY REPORT Mar-00
CUSIP NO.#20847Q-BK3, BL1, BM9, BN7, BP2, BQ0, BR8,BS6,BT4
REMITTANCE DATE 4/03/2000
Page 6
<TABLE>
<CAPTION>
Total $ Per $1,000
Amount Original
--------------- -------------
<S> <C> <C>
CLASS BI CERTIFICATES
- ---------------------
(1) Amount Available less the Class A
Distribution Amount and Class M-1 Distribution
Amount (including Monthly Servicing Fee) 757,900.00
-------------
(3) Class B-1 Remittance Rate (8.80%
unless Weighted Average Contract Rate
is below 8.80%) 8.80%
-------------
(3) Aggregate Class B1 Interest 349,800.00 12.95555556
------------- -----------
(4) Amount applied to Unpaid
Class B1 Interest Shortfall 0.00 0.00
------------- -----------
(5) Remaining Unpaid Class B1
Interest Shortfall 0.00 0.00
------------- -----------
(6) Amount applied to Class B-1
Interest Deficiency Amount 0.00
-------------
(7) Remaining Unpaid Class B-1
Interest Deficiency Amount 0.00
-------------
(8) Unpaid Class B-1 Principal Shortfall
(if any) following prior Remittance Date 0.00
-------------
(8a) Class B Percentage for such Remittance Date 0.00
-------------
(9) Current Principal (Class B Percentage of Formula Principal
Distribution Amount) 0.00 0.00000000
------------- -----------
(10a) Class B1 Principal Shortfall 0.00
-------------
(10b) Unpaid Class B1 Principal Shortfall 0.00
-------------
(11) Class B Principal Balance 58,500,000.00
-------------
(12) Class B1 Principal Balance 27,000,000.00
-------------
(12a) Class B1 Pool Factor 1.00000000
-------------
(13) Class B-1 Liquidation Loss Interest
(a) Class B-1 Liquidation Loss Amount 0.00
-------------
(b) Amount Applied to Class B-1 Liquidation Loss Interest Amount 0.00
-------------
(c) Remaining Class B-1 Liquidation Loss Interest Amount 0.00
-------------
(d) Amount applied to Unpaid Class B-1 Liquidation Loss Interest
Shortfall 0.00
-------------
(e) Remaining Unpaid Class B-1 Liquidation Loss Interest Shortfall 0.00
-------------
</TABLE>
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