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Previous: HASKEL INTERNATIONAL INC, 15-12G, 1999-04-26 |
Next: UNITED OF OMAHA SEPARATE ACCOUNT B, 485BPOS, 1999-04-26 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
--------------
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES ACT OF 1934
Date of Report (Date of earliest event reported): DECEMBER 31, 1998
DVI RECEIVABLES CORP.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
DELAWARE 333-68043 33-0608442
- ------------------ ------------------------ ---------------------
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification Number)
</TABLE>
500 HYDE PARK
DOYLESTOWN, PENNSYLVANIA 18901
- ---------------------------------------- ---------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (215) 345-6600
- -------------------------------------------------------------------------------
(Former name or former address, if changed since last report.)
1
<PAGE> 2
Item 7. Financial Statements and Exhibits
<TABLE>
<S> <C>
Exhibit 99.1 Servicer Report for month ending December 31, 1998, payment date January 11, 1999
Exhibit 99.2 Servicer Report for month ending January 31, 1999, payment date February 11, 1999
Exhibit 99.3 Servicer Report for month ending February 28, 1999, payment date March 11, 1999
Exhibit 99.4 Servicer Report for month ending March 31, 1999, payment date April 12, 1999
</TABLE>
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 hereunto duly authorized.
DVI Delaware Trust 1998-2
-------------------------
(Registrant)
By: DVI Receivables Corp.
Owner of Trust
Dated: April 26, 1999 By: /s/ Steven Garfinkel
-------------------------
Steven Garfinkel
Executive Vice President and
Chief Financial Officer
2
<PAGE> 1
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE JANUARY 11, 1999
<TABLE>
<CAPTION>
I. RECONCILIATION OF COLLECTION ACCOUNT:
<S> <C>
End of Period Collection Account Balance as of Prior Payment Date: 804,691.33
Available Funds:
Contract Payments due and received in this period 4,156,997.25
Contract Payments due in prior period(s) and received in this period 598,096.63
Contract Payments received in this period for next period 307,070.90
Sales, Use and Property Tax payments received 119,885.97
Prepayment Amounts related to early termination in this period 415,157.67
Servicer Advance 705,523.87
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 5,343.97
Interest earned on Collection Account 9,026.93
Interest earned on Affiliated Account 3,565.99
Proceeds from repurchase of Contracts per Contribution and Servicing Agreement Section 5.03 0.00
Amounts paid per Contribution and Servicing Agreement Section 7.01 (Substituted contract
< Predecessor contract) 0.00
Amounts paid under insurance policies 0.00
Maintenance, Late Charges and any other amounts 105,688.64
-------------
Total Available Funds 7,231,049.15
Less: Amounts to be Retained in Collection Account 895,406.58
-------------
AMOUNT TO BE DISTRIBUTED 6,335,642.57
=============
DISTRIBUTION OF FUNDS:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer Advances 598,096.63
3. To Noteholders (For Servicer Report immediately following the Final Additional Closing Date) 0.00
a) Class A1 Principal and Interest 3,956,952.83
a) Class A2 Principal (distributed after A1 Note matures) and Interest 549,900.00
a) Class A3 Principal (distributed after A1 and A2 Notes mature) and Interest 182,832.00
b) Class B Principal and Interest 108,312.86
c) Class C Principal and Interest 123,654.27
d) Class D Principal and Interest 127,828.58
e) Class E Principal and Interest 136,136.29
0.00
4. To Reserve Account for Requirement per Indenture Agreement Section 3.08 0.00
5. To Issuer - Residual Principal and Interest and Reserve Account Distribution
a) Residual Interest (Provided no Restricting or Amortization Event in effect) 64,930.16
b) Residual Principal (Provided no Restricting or Amortization Event in effect) 162,642.15
c) Reserve Account Distribution (Provided no Restricting or Amortization Event in effect) 5,343.97
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest Earned and Any Other Amounts 238,167.53
7. To Servicer, Servicing Fee and other Servicing Compensations 81,845.30
-------------
TOTAL FUNDS DISTRIBUTED 6,336,642.57
==============
-------------
End of Period Collection Account Balance {Includes Payments in Advance & Restricting Event Funds (if any)} 894,406.58
==============
II. RESERVE ACCOUNT
Beginning Balance $2,182,541.24
- Add Investment Earnings 5,343.97
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 5,343.97
-------------
End of period balance $2,182,541.24
==============
Reserve Account Requirement (Lesser of: (i) Initial Reserve Account Required Amount, or
(ii) Sum of Class A, Class B, Class C, Class D, and Class E Note Balances. $2,182,541.24
==============
</TABLE>
<PAGE> 2
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE JANUARY 11, 1999
<TABLE>
<CAPTION>
III. Class A Note Principal Balance
<S> <C> <C>
Beginning Principal Balance of the Class A Notes
Pool A 141,234,176.64
Pool B 49,737,823.36
----------------
190,972,000.00
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 661,680.29
Class A Monthly Interest - Pool B 233,021.06
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 1,840,790.25
Class A Monthly Principal - Pool B 1,954,193.23
----------------
3,794,983.48
Ending Principal Balance of the Class A Notes
Pool A 139,393,386.39
Pool B 47,783,630.13
---------------- ---------------
187,177,016.52
===============
</TABLE>
<TABLE>
- ----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $190,972,000 Original Face $190,972,000 Balance Factor
$ 4.684987 $ 19.871937 98.012806%
- ----------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
IV. Class A Note Principal Balance
Beginning Principal Balance of the Class A Notes
Class A1 35,882,000.00
Class A2 117,000,000.00
Class A3 38,090,000.00
---------------
190,972,000.00
Class A Monthly Interest
Class A1 (Actual Number Days/360) 161,969.35
Class A2 549,900.00
Class A3 182,832.00
Class A Monthly Principal
Class A1 3,794,983.48
Class A2 0.00
Class A3 0.00
---------------
3,794,983.48
Ending Principal Balance of the Class A2 Notes
Class A1 32,087,016.52
Class A2 117,000,000.00
Class A3 38,090,000.00
--------------- ---------------
187,177,016.52
===============
</TABLE>
<PAGE> 3
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE JANUARY 11, 1999
<TABLE>
<CAPTION>
V. Class B Note Principal Balance
Beginning Principal Balance of the Class B Notes
<S> <C> <C>
Pool A 3,228,154.81
Pool B 1,136,845.19
----------------
4,365,000.00
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 15,952.47
Class B Monthly Interest - Pool B 5,617.91
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 42,075.21
Class B Monthly Principal - Pool B 44,667.27
----------------
86,742.48
Ending Principal Balance of the Class B Notes
Pool A 3,186,079.60
Pool B 1,092,177.92
----------------
-------------
4,278,257.52
=============
</TABLE>
<TABLE>
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,365,000 Original Face $4,365,000 Balance Factor
$ 4.941668 $ 19.872275 98.012773%
--------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C> <C>
VI. Class C Note Principal Balance
Beginning Principal Balance of the Class C Notes
Pool A 3,631,918.22
Pool B 1,279,036.78
------------
4,910,955.00
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 19,279.43
Class C Monthly Interest - Pool B 6,789.55
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 47,334.61
Class C Monthly Principal - Pool B 50,250.68
------------
97,585.29
Ending Principal Balance of the Class C Notes
Pool A 3,584,583.61
Pool B 1,228,786.10
------------
-------------
4,813,369.71
=============
</TABLE>
<TABLE>
<S> <C> <C>
------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,910,955 Original Face $4,910,955 Balance Factor
$ 5.308332 $ 19.870940 98.012906%
------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE JANUARY 11, 1999
<TABLE>
<S> <C> <C>
VII. Class D Note Principal Balance
Beginning Principal Balance of the Class D Notes
Pool A 3,631,918.22
Pool B 1,279,036.78
-------------
4,910,955.00
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 22,366.56
Class D Monthly Interest - Pool B 7,876.73
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 47,334.61
Class D Monthly Principal - Pool B 50,250.68
-------------
97,585.29
Ending Principal Balance of the Class D Notes
Pool A 3,584,583.61
Pool B 1,228,786.10
-------------
---------------
4,813,369.71
===============
</TABLE>
<TABLE>
<S> <C> <C>
-----------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,910,955 Original Face $4,910,955 Balance Factor
$ 6.158332 $ 19.870940 98.012906%
-----------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
VIII. Class E Note Principal Balance
Beginning Principal Balance of the Class E Notes
Pool A 3,631,918.22
Pool B 1,279,036.78
---------------
4,910,955.00
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 28,510.56
Class E Monthly Interest - Pool B 10,040.44
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 47,334.61
Class E Monthly Principal - Pool B 50,250.68
---------------
97,585.29
Ending Principal Balance of the Class E Notes
Pool A 3,584,583.61
Pool B 1,228,786.10
---------------
-------------
4,813,369.71
=============
</TABLE>
<TABLE>
<S> <C> <C> <C> <C>
----------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $ 1,000 Ending Principal
Original Face $4,910,955 Original Face $4,910,955 Balance Factor
$ 7.850001 $19.870940 98.012906%
---------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE JANUARY 11, 1999
<TABLE>
<S> <C> <C> <C>
IX. Issuers Residual Principal Balance
Beginning Residual Principal Balance
Pool A 6,052,704.15
Pool B 2,131,554.39
-------------
8,184,258.54
Residual Interest - Pool A 44,229.87
Residual Interest - Pool B 20,700.29
Residual Principal - Pool A 78,891.01
Residual Principal - Pool B 83,751.14
-------------
162,642.15
Ending Residual Principal Balance
Pool A 5,973,813.14
Pool B 2,047,803.25
------------- -------------
8,021,616.39
=============
X. Payment to Servicer
- Collection period Servicer Fee 81,845.30
- Servicer Advances reimbursement 598,096.63
- Tax, Maintenance, Late Charges, Bank Interest and other amounts 238,167.53
-------------
Total amounts due to Servicer 918,109.46
=============
</TABLE>
<PAGE> 6
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE JANUARY 11, 1999
<TABLE>
<S> <C> <C>
XI. Aggregate Discounted Contract Balance
Pool A
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 161,410,790.25
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 2,103,760.27
---------------
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
ending of the related Collection Period 159,307,029.98
===============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 2,032,946.07
- Principal portion of Prepayment Amounts 70,814.20
- Principal portion of Contracts repurchased under Indenture Agreement Section 4.02 0.00
- Aggregate Discounted Contract Balance of Contracts that have become Defaulted
Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute Contracts added during
Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor Contracts withdrawn
during Collection Period 0.00
------------
Total Decline in Aggregate Discounted Contract Balance 2,103,760.27
============
Pool B
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 56,843,333.29
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 2,233,363.83
--------------
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
ending of the related Collection Period 54,609,969.46
=============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 1,848,347.27
- Principal portion of Prepayment Amounts 385,016.56
- Principal portion of Contracts repurchased under Indenture Agreement Section 4.02 0.00
- Aggregate Discounted Contract Balance of Contracts that have become Defaulted
Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute Contracts added during
Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor Contracts withdrawn
during Collection Period 0.00
------------
Total Decline in Aggregate Discounted Contract Balance 2,233,363.83
============
---------------
Aggregate Discounted Contract Balance at the end of the related Collection Period 213,916,999.44
===============
</TABLE>
<PAGE> 7
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE JANUARY 11, 1999
XIII. Cumulative Detail of Substituted Contracts - Prepayments
<TABLE>
<CAPTION>
Pool A Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
NONE
-------------------- --------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID CONTRACTS $0.0
b) ADCB OF POOL A AT CLOSING DATE $161,410,790.2
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per
Contribution & Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
------------ ---
</TABLE>
<TABLE>
<CAPTION>
Pool A Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
NONE
------------ -------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID CONTRACTS $0.00
b) ADCB OF POOL B AT CLOSING DATE $56,843,333.29
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL UNLESS
RATING AGENCY APPROVES) 0.00%
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED (>180 DAYS),
THE SERVICER HAS FAILED
TO ADVANCE, OR A BANKRUPTCY PETITION HAS BEEN FILED
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per
Contribution & Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
------------ ---
</TABLE>
<PAGE> 8
DVI BUSINESS TRUST 1998-2 DVI BUSINESS TRUST 1998-2
SERVICER REPORT SERVICER REPORT
FOR THE PAYMENT DATE JANUARY 11, 1999 FOR THE PAYMENT DATE JANUARY 11, 1999
XIV. Cumulative Detail of Substituted Contracts - Non-Performing (Pool A) &
General Rights (Pool B)
<TABLE>
<CAPTION>
Pool A - Non-Performing Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
---------------------------------------------------------- ----------- ----------------
None
<S> <C> <C> <C> <C>
------------ ----------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL NON-PERFORMING CONTRACTS 0.00
b) ADCB OF POOL A AT CLOSING DATE $161,410,790.25
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per
Contribution & Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
------------ -----------
</TABLE>
<TABLE>
<CAPTION>
Pool B - General Contract Substitution Rights Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C> <C>
None
------------ ----------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL
CONTRACTS SUBSTITUTED $0.00
b) ADCB OF POOL B AT CLOSING DATE $56,843,333.29
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED
(> 180 DAYS), THE SERVICER HAS DECLINED TO ADVANCE
OR A BANKRUPTCY PETITION HAS BEEN FILED.
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per
Contribution & Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
------------ ---------------
</TABLE>
<PAGE> 9
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE JANUARY 11, 1999
XV. Pool Performance Measurements
<TABLE>
<CAPTION>
1. Aggregate Discounted Contract Balance
<S> <C> <C> <C>
Contracts Delinquent > 90 days Total Outstanding Contracts
This Month 235,927.11 This Month 213,916,999.44
1 Month Prior 0.00 1 Month Prior 218,254,123.54
2 Months Prior 0.00 2 Months Prior 0.00
Total 235,927.11 Total 432,171,122.98
a) 3 Month Average 78,642.37 b) 3 Month Average 144,057,040.99
c) a/b 0.05%
</TABLE>
<TABLE>
<S> <C> <C>
2. Does a Delinquency Condition Exist (1c > 6% )?
Yes No X
--------- ------
3. Restricting Event Check
A. A Delinquency Condition exists for current period? Yes No X
--------- ------
B. An Indenture Event of Default has occurred and is then continuing? Yes No X
--------- ------
4. Has a Servicer Event of Default occurred? Yes No X
--------- ------
5. Amortization Event Check
A. Is 1c > 8% ? Yes No X
--------- ------
B. Bankruptcy, insolvency, reorganization; default/violation of any covenant or obligation
not remedied within 90 days? Yes No X
--------- ------
C. As of any Determination date, the sum of all defaulted contracts since the Closing date
exceeds 6% of the ADCB on the Closing Date? Yes No X
--------- ------
6. Aggregate Discounted Contract Balance at Closing Date Balance $218,254,123.54
---------------
</TABLE>
DELINQUENT LEASE SUMMARY
<TABLE>
<CAPTION>
Days Past Due Current Pool Balance # Leases
<S> <C> <C>
31 - 60 9,252,287.13 226
61 - 90 2,206,189.56 51
91 - 180 235,927.11 27
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
<PAGE> 1
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE FEBRUARY 11, 1999
<TABLE>
<S> <C>
I. Reconciliation of Collection Account:
End of Period Collection Account Balance as of Prior Payment Date: 895,406.58
Available Funds:
Contract Payments due and received in this period 4,005,856.76
Contract Payments due in prior period(s) and received in this period 487,979.00
Contract Payments received in this period for next period 217,558.45
Sales, Use and Property Tax payments received 115,443.35
Prepayment Amounts related to early termination in this period 430,859.40
Servicer Advance 793,125.88
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 8,975.17
Interest earned on Collection Account 8,170.05
Interest earned on Affiliated Account 7,296.29
Proceeds from repurchase of Contracts per Contribution and Servicing Agreement Section 5.03 0.00
Amounts paid per Contribution and Servicing Agreement Section 7.01 (Substituted contract
< Predecessor contract) 0.00
Amounts paid under insurance policies 0.00
Maintenance, Late Charges and any other amounts 112,761.40
--------------
Total Available Funds 7,083,432.33
Less: Amounts to be Retained in Collection Account 753,003.40
--------------
Amount to be Distributed 6,330,428.93
==============
Distribution of Funds:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer Advances 487,979.00
3. To Noteholders (For Servicer Report immediately following the Final Additional Closing Date) 0.00
a) Class A1 Principal and Interest 4,029,943.93
a) Class A2 Principal (distributed after A1 Note matures) and Interest 549,900.00
a) Class A3 Principal (distributed after A1 and A2 Notes mature) and Interest 182,832.00
b) Class B Principal and Interest 109,944.12
c) Class C Principal and Interest 125,453.67
d) Class D Principal and Interest 129,545.03
e) Class E Principal and Interest 137,687.65
0.00
4. To Reserve Account for Requirement per Indenture Agreement Section 3.08 0.00
5. To Issuer - Residual Principal and Interest and Reserve Account Distribution
a) Residual Interest (Provided no Restricting or Amortization Event in effect) 77,773.89
b) Residual Principal (Provided no Restricting or Amortization Event in effect) 166,504.50
c) Reserve Account Distribution (Provided no Restricting or
Amortization Event in effect) 8,975.17
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest Earned and Any Other Amounts 243,671.09
7. To Servicer, Servicing Fee and other Servicing Compensations 80,218.88
--------------
Total Funds Distributed 6,330,428.93
==============
--------------
End of Period Collection Account Balance {Includes Payments in Advance & Restricting Event Funds (if any)} 753,003.40
==============
II. Reserve Account
Beginning Balance $2,182,541.24
- Add Investment Earnings 8,975.17
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 8,975.17
--------------
End of period balance $2,182,541.24
==============
Reserve Account Requirement (Lesser of: (i) Initial Reserve Account Required Amount, or
(ii) Sum of Class A, Class B, Class C, Class D, and Class E Note Balances. $2,182,541.24
==============
</TABLE>
<PAGE> 2
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE FEBRUARY 11, 1999
<TABLE>
<S> <C> <C>
III. Class A Note Principal Balance
Beginning Principal Balance of the Class A Notes
Pool A 139,393,386.39
Pool B 47,783,630.13
---------------
187,177,016.52
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 653,539.62
Class A Monthly Interest - Pool B 224,031.39
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 2,107,328.93
Class A Monthly Principal - Pool B 1,777,775.99
---------------
3,885,104.92
Ending Principal Balance of the Class A Notes
Pool A 137,286,057.46
Pool B 46,005,854.14
---------------
---------------------------
183,291,911.60
===========================
</TABLE>
<TABLE>
<S> <C> <C>
- --------------------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $190,972,000 Original Face $190,972,000 Balance Factor
$ 4.595286 $ 20.343846 95.978422%
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
IV. Class A Note Principal Balance
Beginning Principal Balance of the Class A Notes
Class A1 32,087,016.52
Class A2 117,000,000.00
Class A3 38,090,000.00
----------------
187,177,016.52
Class A Monthly Interest
Class A1 (Actual Number Days/360) 144,839.01
Class A2 549,900.00
Class A3 182,832.00
Class A Monthly Principal
Class A1 3,885,104.92
Class A2 0.00
Class A3 0.00
----------------
3,885,104.92
Ending Principal Balance of the Class A2 Notes
Class A1 28,201,911.60
Class A2 117,000,000.00
Class A3 38,090,000.00
----------------
---------------------------
183,291,911.60
===========================
</TABLE>
<PAGE> 3
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE FEBRUARY 11, 1999
<TABLE>
<S> <C> <C>
V. Class B Note Principal Balance
Beginning Principal Balance of the Class B Notes
Pool A 3,186,079.60
Pool B 1,092,177.92
--------------
4,278,257.52
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 15,744.54
Class B Monthly Interest - Pool B 5,397.18
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 48,167.52
Class B Monthly Principal - Pool B 40,634.88
--------------
88,802.40
Ending Principal Balance of the Class B Notes
Pool A 3,137,912.08
Pool B 1,051,543.04
--------------
--------------
4,189,455.12
==============
</TABLE>
<TABLE>
<S> <C> <C>
-------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $ 1,000 Ending Principal
Original Face $4,365,000 Original Face $ 4,365,000 Balance Factor
$ 4.843464 $ 20.344192 95.978353%
-------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
VI. Class C Note Principal Balance
Beginning Principal Balance of the Class C Notes
Pool A 3,584,583.61
Pool B 1,228,786.10
--------------
4,813,369.71
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 19,028.16
Class C Monthly Interest - Pool B 6,522.81
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 54,188.46
Class C Monthly Principal - Pool B 45,714.24
--------------
99,902.70
Ending Principal Balance of the Class C Notes
Pool A 3,530,395.15
Pool B 1,183,071.86
--------------
------------------------------
4,713,467.01
=========================-====
</TABLE>
<TABLE>
<S> <C> <C>
-----------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,910,955 Original Face $4,910,955 Balance Factor
$ 5.202852 $20.342825 95.978624%
-----------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE FEBRUARY 11, 1999
VII. Class D Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class D Notes
Pool A 3,584,583.61
Pool B 1,228,786.10
--------------
4,813,369.71
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 22,075.06
Class D Monthly Interest - Pool B 7,567.27
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 54,188.46
Class D Monthly Principal - Pool B 45,714.24
--------------
99,902.70
Ending Principal Balance of the Class D Notes
Pool A 3,530,395.15
Pool B 1,183,071.86
--------------
----------------
4,713,467.01
================
</TABLE>
<TABLE>
<S> <C> <C>
-------------------------------------------------------------------------------------------------------------------
Interest Paid Per $ 1,000 Principal Paid Per $ 1,000 Ending Principal
Original Face $4,910,955 Original Face $ 4,910,955 Balance Factor
$ 6.035960 $ 20.342825 95.978624%
-------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
VIII. Class E Note Principal Balance
Beginning Principal Balance of the Class E Notes
Pool A 3,584,583.61
Pool B 1,228,786.10
--------------
4,813,369.71
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 28,138.98
Class E Monthly Interest - Pool B 9,645.97
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 54,188.46
Class E Monthly Principal - Pool B 45,714.24
--------------
99,902.70
Ending Principal Balance of the Class E Notes
Pool A 3,530,395.15
Pool B 1,183,071.86
--------------
------------------------
4,713,467.01
========================
</TABLE>
<TABLE>
<S> <C> <C>
-------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $ 1,000 Ending Principal
Original Face $4,910,955 Original Face $4,910,955 Balance Factor
$ 7.694013 $ 20.342825 95.978624%
-------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE FEBRUARY 11, 1999
<TABLE>
<S> <C> <C>
IX. Issuers Residual Principal Balance
Beginning Residual Principal Balance
Pool A 5,973,813.14
Pool B 2,047,803.25
---------------
8,021,616.39
Residual Interest - Pool A 60,216.65
Residual Interest - Pool B 17,557.24
Residual Principal - Pool A 90,314.10
Residual Principal - Pool B 76,190.40
---------------
166,504.50
Ending Residual Principal Balance
Pool A 5,883,499.04
Pool B 1,971,612.85
---------------
---------------
7,855,111.89
===============
X. Payment to Servicer
- Collection period Servicer Fee 80,218.88
- Servicer Advances reimbursement 487,979.00
- Tax, Maintenance, Late Charges, Bank Interest and other amounts 243,671.09
---------------
Total amounts due to Servicer 811,868.97
===============
</TABLE>
<PAGE> 6
<TABLE>
<S> <C> <C>
XI. Aggregate Discounted Contract Balance
Pool A
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 159,307,029.98
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 2,408,375.92
--------------
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
ending of the related Collection Period 156,898,654.06
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 2,080,323.37
- Principal portion of Prepayment Amounts 328,052.55
- Principal portion of Contracts repurchased under Indenture Agreement Section 4.02 0.00
- Aggregate Discounted Contract Balance of Contracts that have become Defaulted
Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute Contracts added during
Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor Contracts withdrawn
during Collection Period 0.00
------------
Total Decline in Aggregate Discounted Contract Balance 2,408,375.92
============
Pool B
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 54,609,969.46
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 2,031,743.99
--------------
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
ending of the related Collection Period 52,578,225.47
=============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 1,844,179.31
- Principal portion of Prepayment Amounts 187,564.68
- Principal portion of Contracts repurchased under Indenture Agreement
Section 4.02 0.00
- Aggregate Discounted Contract Balance of Contracts that have become Defaulted
Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute Contracts added during
Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor Contracts withdrawn
during Collection Period 0.00
------------
Total Decline in Aggregate Discounted Contract Balance 2,031,743.99
============
--------------
Aggregate Discounted Contract Balance at the end of the related Collection Period 209,476,879.53
=============
</TABLE>
<PAGE> 7
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE FEBRUARY 11, 1999
XIII. Cumulative Detail of Substituted Contracts - Prepayments
<TABLE>
<CAPTION>
Pool A Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
---------------------------------------------------------------- --------------------- -------------
<S> <C> <C> <C> <C>
NONE
------------ ------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID CONTRACTS $0.00
b) ADCB OF POOL A AT CLOSING DATE $161,410,790.25
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution &
Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
----------- ---------
</TABLE>
<TABLE>
<CAPTION>
Pool B Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
---------------------------------------------------------------- --------------------- -------------
<S> <C> <C> <C> <C>
NONE
------------ ------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID CONTRACTS $0.00
b) ADCB OF POOL A AT CLOSING DATE $56,843,333.29
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED (>180 DAYS), THE SERVICER HAS FAILED
TO ADVANCE, OR A BANKRUPTCY PETITION HAS BEEN FILED
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per
Contribution & Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
----------- ---------
</TABLE>
<PAGE> 8
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE FEBRUARY 11, 1999
XIV. Cumulative Detail of Substituted Contracts - Non-Performing (Pool A)
& General Rights (Pool B)
<TABLE>
<CAPTION>
Pool A - Non-Performing Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
---------------------------------- --------------------------- ---------- -------------
<S> <C> <C> <C> <C>
None
--------------------------- --------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL NON-PERFORMING CONTRACTS 0.00
b) ADCB OF POOL A AT CLOSING DATE $161,410,790.25
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per
Contribution & Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
----------- -----------
</TABLE>
<TABLE>
<CAPTION>
Pool B - General Contract Substitution Rights Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
----------------------------------------------- ------------- ------------ -------------
<S> <C> <C> <C> <C>
None
------------- -------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL CONTRACTS SUBSTITUTED $0.00
b) ADCB OF POOL B AT CLOSING DATE $56,843,333.29
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED (> 180 DAYS),
THE SERVICER HAS DECLINED
TO ADVANCE OR A BANKRUPTCY PETITION HAS BEEN FILED.
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per
Contribution & Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
----------- -----------
</TABLE>
<PAGE> 9
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE FEBRUARY 11, 1999
XV. Pool Performance Measurements
1. Aggregate Discounted Contract Balance
<TABLE>
<CAPTION>
Contracts Delinquent > 90 days Total Outstanding Contracts
<S> <C> <C> <C>
This Month 2,374,809.38 This Month 209,476,879.53
1 Month Prior 235,927.11 1 Month Prior 213,916,999.44
2 Months Prior 0.00 2 Months Prior 0.00
Total 2,610,736.49 Total 423,393,878.97
a) 3 MONTH AVERAGE 870,245.50 b) 3 MONTH AVERAGE 141,131,292.99
c) a/b 0.62%
</TABLE>
<TABLE>
<S> <C> <C>
2. Does a Delinquency Condition Exist (1c > 6% )?
Yes No X
--------------- ------------
3. Restricting Event Check
A. A Delinquency Condition exists for current period? Yes No X
--------------- ------------
B. An Indenture Event of Default has occurred and is
then continuing? Yes No X
--------------- ------------
4. Has a Servicer Event of Default occurred? Yes No X
--------------- ------------
5. Amortization Event Check
A. Is 1c > 8% ? Yes No X
--------------- ------------
B. Bankruptcy, insolvency, reorganization; default/
violation of any covenant or obligation not remedied
within 90 days? Yes No X
--------------- ------------
C. As of any Determination date, the sum of all defaulted
contracts since the Closing date exceeds 6% of the ADCB
on the Closing Date? Yes No X
--------------- ------------
</TABLE>
<TABLE>
<S> <C>
6. Aggregate Discounted Contract Balance at Closing Date Balance $ 218,254,123.54
----------------
</TABLE>
DELINQUENT LEASE SUMMARY
<TABLE>
<CAPTION>
Days Past Due Current Pool Balance # Leases
------------- -------------------- --------
<S> <C> <C>
31 - 60 10,683,714.02 351
61 - 90 2,002,348.47 83
91 - 180 2,374,809.38 39
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
<PAGE> 1
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE MARCH 11, 1999
<TABLE>
<S> <C>
I. Reconciliation of Collection Account:
End of Period Collection Account Balance as of Prior Payment Date: 753,003.40
Available Funds:
Contract Payments due and received in this period 4,206,222.28
Contract Payments due in prior period(s) and received in this period 609,556.89
Contract Payments received in this period for next period 159,020.02
Sales, Use and Property Tax payments received 141,783.11
Prepayment Amounts related to early termination in this period 263,639.81
Servicer Advance 664,803.34
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 7,966.52
Interest earned on Collection Account 7,609.98
Interest earned on Affiliated Account 7,767.10
Proceeds from repurchase of Contracts per Contribution and Servicing
Agreement Section 5.03 0.00
Amounts paid per Contribution and Servicing Agreement Section 7.01
(Substituted contract < Predecessor contract) 0.00
Amounts paid under insurance policies 0.00
Maintenance, Late Charges and any other amounts 122,040.83
---------------
Total Available Funds 6,943,413.28
Less: Amounts to be Retained in Collection Account 669,025.18
---------------
AMOUNT TO BE DISTRIBUTED 6,274,388.10
===============
DISTRIBUTION OF FUNDS:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer
Advances 609,556.89
3. To Noteholders (For Servicer Report immediately following the Final
Additional Closing Date) 0.00
a) Class A1 Principal and Interest 3,849,245.69
a) Class A2 Principal (distributed after A1 Note matures)
and Interest 549,900.00
a) Class A3 Principal (distributed after A1 and A2 Notes
mature) and Interest 182,832.00
b) Class B Principal and Interest 106,057.49
c) Class C Principal and Interest 121,044.57
d) Class D Principal and Interest 125,051.02
e) Class E Principal and Interest 133,024.63
0.00
4. To Reserve Account for Requirement per Indenture Agreement Section
3.08 0.00
5. To Issuer - Residual Principal and Interest and Reserve Account
Distribution
a) Residual Interest (Provided no Restricting or Amortization
Event in effect) 71,914.58
b) Residual Principal (Provided no Restricting or Amortization
Event in effect) 160,039.86
c) Reserve Account Distribution (Provided no Restricting or
Amortization Event in effect) 7,966.52
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest Earned
and Any Other Amounts 279,201.02
7. To Servicer, Servicing Fee and other Servicing Compensations 78,553.83
---------------
TOTAL FUNDS DISTRIBUTED 6,274,388.10
===============
---------------
End of Period Collection Account Balance {Includes Payments in Advance & Restricting
Event Funds (if any)} 669,025.18
===============
II. Reserve Account
Beginning Balance $2,182,541.24
- Add Investment Earnings 7,966.52
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 7,966.52
---------------
End of period balance $2,182,541.24
===============
Reserve Account Requirement (Lesser of: (i) Initial Reserve Account Required Amount, or
(ii) Sum of Class A, Class B, Class C, Class D, and Class E Note Balances. $2,182,541.24
===============
</TABLE>
<PAGE> 2
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE MARCH 11, 1999
III. Class A Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class A Notes
Pool A 137,286,057.46
Pool B 46,005,854.14
----------------
183,291,911.60
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 634,939.96
Class A Monthly Interest - Pool B 212,774.37
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 1,938,583.78
Class A Monthly Principal - Pool B 1,795,679.58
----------------
3,734,263.36
Ending Principal Balance of the Class A Notes
Pool A 135,347,473.68
Pool B 44,210,174.56
---------------- ---------------
179,557,648.24
===============
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $190,972,000 Original Face $190,972,000 Balance Factor
- ------------------------------------------------------------------------------------
<S> <C> <C>
$ 4.438946 $ 19.553984 94.023023%
</TABLE>
IV. Class A Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class A Notes
Class A1 28,201,911.60
Class A2 117,000,000.00
Class A3 38,090,000.00
----------------
183,291,911.60
Class A Monthly Interest
Class A1 (Actual Number Days/360) 114,982.33
Class A2 549,900.00
Class A3 182,832.00
Class A Monthly Principal
Class A1 3,734,263.36
Class A2 0.00
Class A3 0.00
----------------
3,734,263.36
Ending Principal Balance of the Class A2 Notes
Class A1 24,467,648.24
Class A2 117,000,000.00
Class A3 38,090,000.00
---------------- ---------------
179,557,648.24
===============
</TABLE>
<PAGE> 3
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE MARCH 11, 1999
V. Class B Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class B Notes
Pool A 3,137,912.08
Pool B 1,051,543.04
--------------
4,189,455.12
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 15,506.52
Class B Monthly Interest - Pool B 5,196.38
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 44,310.49
Class B Monthly Principal - Pool B 41,044.10
--------------
85,354.59
Ending Principal Balance of the Class B Notes
Pool A 3,093,601.59
Pool B 1,010,498.94
-------------- -------------
4,104,100.53
=============
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,365,000 Original Face $4,365,000 Balance Factor
- -----------------------------------------------------------------------------------------
<S> <C> <C>
$ 4.742932 $ 19.554316 94.022922%
</TABLE>
VI. Class C Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class C Notes
Pool A 3,530,395.15
Pool B 1,183,071.86
--------------
4,713,467.01
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 18,740.51
Class C Monthly Interest - Pool B 6,280.14
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 49,849.30
Class C Monthly Principal - Pool B 46,174.62
--------------
96,023.92
Ending Principal Balance of the Class C Notes
Pool A 3,480,545.85
Pool B 1,136,897.24
-------------- -------------
4,617,443.09
=============
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,910,955 Original Face $4,910,955 Balance Factor
- -----------------------------------------------------------------------------------------
<S> <C> <C>
$ 5.094864 $ 19.553003 94.023323%
</TABLE>
<PAGE> 4
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE MARCH 11, 1999
VII. Class D Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class D Notes
Pool A 3,530,395.15
Pool B 1,183,071.86
--------------
4,713,467.01
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 21,741.35
Class D Monthly Interest - Pool B 7,285.75
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 49,849.30
Class D Monthly Principal - Pool B 46,174.62
--------------
96,023.92
Ending Principal Balance of the Class D Notes
Pool A 3,480,545.85
Pool B 1,136,897.24
-------------- ------------
4,617,443.09
============
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,910,955 Original Face $4,910,955 Balance Factor
- -----------------------------------------------------------------------------------------
<S> <C> <C>
$ 5.910683 $ 19.553003 94.023323%
</TABLE>
VIII. Class E Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class E Notes
Pool A 3,530,395.15
Pool B 1,183,071.86
---------------
4,713,467.01
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 27,713.60
Class E Monthly Interest - Pool B 9,287.11
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 49,849.30
Class E Monthly Principal - Pool B 46,174.62
---------------
96,023.92
Ending Principal Balance of the Class E Notes
Pool A 3,480,545.85
Pool B 1,136,897.24
--------------- ------------
4,617,443.09
============
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,910,955 Original Face $4,910,955 Balance Factor
- -----------------------------------------------------------------------------------------
<S> <C> <C>
$ 7.534321 $ 19.553003 94.023323%
</TABLE>
<PAGE> 5
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE MARCH 11, 1999
IX. Issuers Residual Principal Balance
<TABLE>
<CAPTION>
Beginning Residual Principal Balance
<S> <C> <C>
Pool A 5,883,499.04
Pool B 1,971,612.85
---------------
7,855,111.89
Residual Interest - Pool A 54,116.28
Residual Interest - Pool B 17,798.30
Residual Principal - Pool A 83,082.16
Residual Principal - Pool B 76,957.70
---------------
160,039.86
Ending Residual Principal Balance
Pool A 5,800,416.88
Pool B 1,894,655.15
--------------- -------------
7,695,072.03
=============
X. Payment to Servicer
- Collection period Servicer Fee 78,553.83
- Servicer Advances reimbursement 609,556.89
- Tax, Maintenance, Late Charges, Bank Interest and other amounts 279,201.02
--------------
Total amounts due to Servicer 967,311.74
==============
</TABLE>
<PAGE> 6
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE MARCH 11, 1999
XI. Aggregate Discounted Contract Balance
<TABLE>
<S> <C> <C>
Pool A
Aggregate Discounted Contract Balance, as defined in Indenture
Agreement, at the beginning of the related Collection Period 156,898,654.06
Aggregate Discounted Contract Balance of Additional Contracts
acquired during Collection Period Decline in Aggregate
Discounted Contract Balance 0.00
2,215,524.32
Aggregate Discounted Contract Balance, as defined in Indenture
Agreement, at the
--------------
ending of the related Collection Period 154,683,129.74
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 2,129,470.51
- Principal portion of Prepayment Amounts 86,053.81
- Principal portion of Contracts repurchased under Indenture
Agreement Section 4.02 0.00
- Aggregate Discounted Contract Balance of Contracts that have
become Defaulted Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute
Contracts added during Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor
Contracts withdrawn during Collection Period 0.00
-------------
Total Decline in Aggregate Discounted
Contract Balance 2,215,524.32
-============
Pool B
Aggregate Discounted Contract Balance, as defined in Indenture
Agreement, at the beginning of the related Collection Period 52,578,225.47
Aggregate Discounted Contract Balance of Additional Contracts
acquired during Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 2,052,205.24
--------------
Aggregate Discounted Contract Balance, as defined in Indenture
Agreement, at the ending of the related Collection Period 50,526,020.23
=============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 1,858,860.41
- Principal portion of Prepayment Amounts 193,344.83
- Principal portion of Contracts repurchased under Indenture
Agreement Section 4.02
- Aggregate Discounted Contract Balance of Contracts that have
become Defaulted Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute
Contracts added during Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor
Contracts withdrawn during Collection Period 0.00
-------------
Total Decline in Aggregate Discounted Contract Balance 2,052,205.24
=============
--------------
Aggregate Discounted Contract Balance at the end of the related Collection Period 205,209,149.97
==============
</TABLE>
<PAGE> 7
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE MARCH 11, 1999
XIII. Cumulative Detail of Substituted Contracts - Prepayments
<TABLE>
<CAPTION>
Pool A Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
- ------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
NONE
------------- -------------
Totals: $0.00 $0.00
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID CONTRACTS $0.00
b) ADCB OF POOL A AT CLOSING DATE $161,410,790.25
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
</TABLE>
<TABLE>
<S> <C> <C> <C>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution
& Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
------- -----------
</TABLE>
<TABLE>
<CAPTION>
Pool B Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
- ------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
NONE
-------------- ----------------
Totals: $0.00 $0.00
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID CONTRACTS $0.00
b) ADCB OF POOL B AT CLOSING DATE $56,843,333.29
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL UNLESS RATING
AGENCY APPROVES) 0.00%
</TABLE>
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED (>180 DAYS),
THE SERVICER HAS FAILED TO ADVANCE, OR A BANKRUPTCY PETITION HAS
BEEN FILED
<TABLE>
<S> <C> <C> <C>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution
& Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
------- -----------
</TABLE>
<PAGE> 8
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE MARCH 11, 1999
XIV. Cumulative Detail of Substituted Contracts - Non-Performing (Pool A) &
General Rights (Pool B)
Pool A - Non-Performing
<TABLE>
<CAPTION>
Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
- ------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
None
------------- -------------
Totals: $0.00 $0.00
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL NON-PERFORMING CONTRACTS 0.00
b) ADCB OF POOL A AT CLOSING DATE $161,410,790.25
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
</TABLE>
<TABLE>
<S> <C> <C> <C>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution
& Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
------- -----------
</TABLE>
Pool B - General Contract Substitution Rights
<TABLE>
<CAPTION>
Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
- ------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
None
-------------- -------------
Totals: $0.00 $0.00
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL CONTRACTS SUBSTITUTED $0.00
b) ADCB OF POOL B AT CLOSING DATE $56,843,333.29
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
</TABLE>
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED (> 180 DAYS),
THE SERVICER HAS DECLINED TO ADVANCE OR A BANKRUPTCY PETITION HAS
BEEN FILED.
<TABLE>
<S> <C> <C> <C>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution
& Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
------- -----------
</TABLE>
<PAGE> 9
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE MARCH 11, 1999
XV. Pool Performance Measurements
1. Aggregate Discounted Contract Balance
<TABLE>
<CAPTION>
Contracts Delinquent > 90 days Total Outstanding Contracts
<S> <C> <C> <C>
This Month 1,990,421.08 This Month 205,209,149.97
1 Month Prior 2,374,809.38 1 Month Prior 209,476,879.53
2 Months Prior 235,927.11 2 Months Prior 213,916,999.44
Total 4,601,157.57 Total 628,603,028.94
a) 3 Month Average 1,533,719.19 b) 3 Month Average 209,534,342.98
c) a/b 0.73%
</TABLE>
<TABLE>
<S> <C> <C>
2. Does a Delinquency Condition Exist (1c > 6% )?
Yes No X
------------------ ---------
3. Restricting Event Check
A. A Delinquency Condition exists for current period? Yes No X
------------------ ---------
B. An Indenture Event of Default has occurred and is then continuing? Yes No X
------------------ ---------
4. Has a Servicer Event of Default occurred? Yes No X
------------------ ---------
5. Amortization Event Check
A. Is 1c > 8% ? Yes No X
------------------ ---------
B. Bankruptcy, insolvency, reorganization; default/violation of any
covenant or obligation not remedied within 90 days? Yes No X
------------------ ---------
C. As of any Determination date, the sum of all defaulted contracts
since the Closing date exceeds 6% of the ADCB on the Closing Date? Yes No X
------------------ ---------
6. Aggregate Discounted Contract Balance at Closing Date Balance $ 218,254,123.54
-----------------
</TABLE>
DELINQUENT LEASE SUMMARY
<TABLE>
<CAPTION>
Days Past Due Current Pool Balance # Leases
------------- -------------------- --------
<S> <C> <C>
31 - 60 11,106,846.04 276
61 - 90 3,275,533.36 101
91 - 180 1,990,421.08 69
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
<PAGE> 1
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE APRIL 12, 1999
<TABLE>
<S> <C>
I. Reconciliation of Collection Account:
End of Period Collection Account Balance as of Prior Payment Date: 669,025.18
Available Funds:
Contract Payments due and received in this period 4,492,141.52
Contract Payments due in prior period(s) and received in this period 716,138.70
Contract Payments received in this period for next period 472,511.69
Sales, Use and Property Tax payments received 145,994.16
Prepayment Amounts related to early termination in this period 144,940.84
Servicer Advance 604,008.43
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 8,773.16
Interest earned on Collection Account 9,392.91
Interest earned on Affiliated Account 9,153.97
Proceeds from repurchase of Contracts per Contribution and Servicing Agreement
Section 5.03 0.00
Amounts paid per Contribution and Servicing Agreement Section 7.01 (Substituted
contract < Predecessor contract) 0.00
Amounts paid under insurance policies 0.00
Maintenance, Late Charges and any other amounts 210,746.03
--------------
Total Available Funds 7,482,826.59
Less: Amounts to be Retained in Collection Account 1,020,451.46
-------------
Amount to be Distributed 6,462,375.13
==============
Distribution of Funds:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer Advances 716,138.70
3. To Noteholders (For Servicer Report immediately following the Final
Additional Closing Date) 0.00
a) Class A1 Principal and Interest 3,855,519.99
a) Class A2 Principal (distributed after A1 Note matures) and
Interest 549,900.00
a) Class A3 Principal (distributed after A1 and A2 Notes mature)
and Interest 182,832.00
b) Class B Principal and Interest 105,801.37
c) Class C Principal and Interest 120,721.22
d) Class D Principal and Interest 124,646.04
e) Class E Principal and Interest 132,457.21
0.00
4. To Reserve Account for Requirement per Indenture Agreement Section 3.08 0.00
5. To Issuer - Residual Principal and Interest and Reserve Account
Distribution
a) Residual Interest (Provided no Restricting or Amortization
Event in effect) 52,994.45
b) Residual Principal (Provided no Restricting or Amortization
Event in effect) 160,350.49
c) Reserve Account Distribution (Provided no Restricting or
Amortization Event in effect) 8,773.16
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest Earned
and Any Other Amounts 375,287.07
7. To Servicer, Servicing Fee and other Servicing Compensations 76,953.43
--------------
Total Funds Distributed 6,462,375.13
==============
--------------
End of Period Collection Account Balance {Includes Payments in Advance & Restricting
Event Funds (if any)} 1,020,451.46
==============
II. Reserve Account
Beginning Balance $2,182,541.24
- Add Investment Earnings 8,773.16
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 8,773.16
--------------
End of period balance $2,182,541.24
==============
Reserve Account Requirement (Lesser of: (i) Initial Reserve Account Required Amount, or
(ii) Sum of Class A, Class B, Class C, Class D, and Class E Note Balances. $2,182,541.24
==============
</TABLE>
<PAGE> 2
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE MARCH 11, 1999
III. Class A Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class A Notes
Pool A 135,347,473.68
Pool B 44,210,174.56
--------------
179,557,648.24
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 638,258.36
Class A Monthly Interest - Pool B 208,482.01
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 2,034,891.21
Class A Monthly Principal - Pool B 1,706,620.41
--------------
3,741,511.62
Ending Principal Balance of the Class A Notes
Pool A 133,312,582.47
Pool B 42,503,554.15
-------------- ----------------
175,816,136.62
================
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $190,972,000 Original Face $190,972,000 Balance Factor
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
$ 4.433846 $ 19.591938 92.063830%
</TABLE>
IV. Class A Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class A Notes
Class A1 24,467,648.24
Class A2 117,000,000.00
Class A3 38,090,000.00
----------------
179,557,648.24
Class A Monthly Interest
Class A1 (Actual Number Days/360) 114,008.37
Class A2 549,900.00
Class A3 182,832.00
Class A Monthly Principal
Class A1 3,741,511.62
Class A2 0.00
Class A3 0.00
----------------
3,741,511.62
Ending Principal Balance of the Class A2 Notes
Class A1 20,726,136.62
Class A2 117,000,000.00
Class A3 38,090,000.00
---------------- -----------------
175,816,136.62
=================
</TABLE>
<PAGE> 3
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE APRIL 12, 1999
V. Class B Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class B Notes
Pool A 3,093,601.59
Pool B 1,010,498.94
--------------
4,104,100.53
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 15,287.55
Class B Monthly Interest - Pool B 4,993.55
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 46,511.80
Class B Monthly Principal - Pool B 39,008.47
--------------
85,520.27
Ending Principal Balance of the Class B Notes
Pool A 3,047,089.79
Pool B 971,490.47
-------------- -------------
4,018,580.26
=============
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,365,000 Original Face $4,365,000 Balance Factor
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
$ 4.646300 $ 19.592273 92.063694%
</TABLE>
VI. Class C Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class C Notes
Pool A 3,480,545.85
Pool B 1,136,897.24
-------------
4,617,443.09
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 18,475.90
Class C Monthly Interest - Pool B 6,035.03
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 52,325.77
Class C Monthly Principal - Pool B 43,884.52
-------------
96,210.29
Ending Principal Balance of the Class C Notes
Pool A 3,428,220.08
Pool B 1,093,012.72
------------- -------------
4,521,232.80
=============
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,910,955 Original Face $4,910,955 Balance Factor
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
$ 4.991072 $ 19.590953 92.064228%
</TABLE>
<PAGE> 4
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE APRIL 12, 1999
VII. Class D Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class D Notes
Pool A 3,480,545.85
Pool B 1,136,897.24
-------------
4,617,443.09
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 21,434.36
Class D Monthly Interest - Pool B 7,001.39
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 52,325.77
Class D Monthly Principal - Pool B 43,884.52
-------------
96,210.29
Ending Principal Balance of the Class D Notes
Pool A 3,428,220.08
Pool B 1,093,012.72
------------- ------------
4,521,232.80
============
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,910,955 Original Face $4,910,955 Balance Factor
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
$ 5.790269 $ 19.590953 92.064228%
</TABLE>
VIII. Class E Note Principal Balance
<TABLE>
<S> <C> <C>
Beginning Principal Balance of the Class E Notes
Pool A 3,480,545.85
Pool B 1,136,897.24
-------------
4,617,443.09
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 27,322.28
Class E Monthly Interest - Pool B 8,924.64
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 52,325.77
Class E Monthly Principal - Pool B 43,884.52
-------------
96,210.29
Ending Principal Balance of the Class E Notes
Pool A 3,428,220.08
Pool B 1,093,012.72
------------- ------------
4,521,232.80
============
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,910,955 Original Face $4,910,955 Balance Factor
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
$ 7.380829 $ 19.590953 92.064228%
</TABLE>
<PAGE> 5
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE APRIL 12, 1999
IX. Issuers Residual Principal Balance
<TABLE>
<S> <C> <C>
Beginning Residual Principal Balance
Pool A 5,800,416.88
Pool B 1,894,655.15
------------
7,695,072.03
Residual Interest - Pool A 39,935.22
Residual Interest - Pool B 13,059.23
Residual Principal - Pool A 87,209.62
Residual Principal - Pool B 73,140.87
------------
160,350.49
Ending Residual Principal Balance
Pool A 5,713,207.26
Pool B 1,821,514.28
------------ ------------
7,534,721.54
============
X. Payment to Servicer
- Collection period Servicer Fee 76,953.43
- Servicer Advances reimbursement 716,138.70
- Tax, Maintenance, Late Charges, Bank Interest and other amounts 375,287.07
------------
Total amounts due to Servicer 1,168,379.20
============
</TABLE>
<PAGE> 6
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE APRIL 12, 1999
XI. Aggregate Discounted Contract Balance
Pool A
<TABLE>
<S> <C> <C>
Aggregate Discounted Contract Balance, as defined in Indenture
Agreement, at the beginning of the related Collection Period 154,683,129.74
Aggregate Discounted Contract Balance of Additional Contracts
acquired during Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 2,325,589.95
Aggregate Discounted Contract Balance, as defined in Indenture
Agreement, at the ending of the related Collection Period
--------------
152,357,539.79
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 2,278,626.53
- Principal portion of Prepayment Amounts 46,963.42
- Principal portion of Contracts repurchased under Indenture
Agreement Section 4.02 0.00
- Aggregate Discounted Contract Balance of Contracts that have
become Defaulted Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute Contracts
added during Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor Contracts
withdrawn during Collection Period 0.00
--------------
Total Decline in Aggregate Discounted Contract Balance 2,325,589.95
==============
Pool B
Aggregate Discounted Contract Balance, as defined in Indenture
Agreement, at the beginning of the related Collection Period 50,526,020.23
Aggregate Discounted Contract Balance of Additional Contracts
acquired during Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 1,950,423.33
Aggregate Discounted Contract Balance, as defined in Indenture
Agreement, at the ending of the related Collection Period
--------------
48,575,596.90
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 1,852,214.29
- Principal portion of Prepayment Amounts 98,209.04
- Principal portion of Contracts repurchased under Indenture
Agreement Section 4.02 0.00
- Aggregate Discounted Contract Balance of Contracts that have
become Defaulted Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute Contracts
added during Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor Contracts
withdrawn during Collection Period 0.00
--------------
Total Decline in Aggregate Discounted Contract Balance 1,950,423.33
==============
--------------
Aggregate Discounted Contract Balance at the end of the related Collection Period 200,933,136.69
==============
</TABLE>
<PAGE> 7
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE APRIL 12, 1999
XIII. Cumulative Detail of Substituted Contracts - Prepayments
<TABLE>
<CAPTION>
Pool A Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
- ------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
NONE
-------------- -------------
Totals: $0.00 $0.00
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID CONTRACTS $0.00
b) ADCB OF POOL A AT CLOSING DATE $161,410,790.25
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
</TABLE>
<TABLE>
<S> <C> <C> <C>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution
& Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
--- --------
</TABLE>
<TABLE>
<CAPTION>
Pool B Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
- ------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
NONE
------------- -------------
Totals: $0.00 $0.00
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID CONTRACTS $0.00
b) ADCB OF POOL B AT CLOSING DATE $56,843,333.29
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL UNLESS RATING AGENCY APPROVES) 0.00%
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED (>180 DAYS), THE SERVICER HAS FAILED
TO ADVANCE, OR A BANKRUPTCY PETITION HAS BEEN FILED
</TABLE>
<TABLE>
<S> <C> <C> <C>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution
& Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
--- --------
</TABLE>
<PAGE> 8
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE APRIL 12, 1999
XIV. Cumulative Detail of Substituted Contracts - Non-Performing (Pool A) &
General Rights (Pool B)
<TABLE>
<CAPTION>
Pool A - Non-Performing Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
- ------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
None
------------- -------------
Totals: $0.00 $0.00
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL NON-PERFORMING CONTRACTS 0.00
b) ADCB OF POOL A AT CLOSING DATE $161,410,790.25
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
</TABLE>
<TABLE>
<S> <C> <C> <C>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution &
Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
--- --------
</TABLE>
Pool B - General Contract Substitution Rights
<TABLE>
<CAPTION>
Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
- ------- ----------- ------------- ------- -------------
<S> <C> <C> <C> <C>
None
------------- -------------
Totals: $0.00 $0.00
</TABLE>
<TABLE>
<S> <C>
a) DISCOUNTED CONTRACT BALANCES OF ALL CONTRACTS SUBSTITUTED $0.00
b) ADCB OF POOL B AT CLOSING DATE $56,843,333.29
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
</TABLE>
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED (> 180 DAYS),
THE SERVICER HAS DECLINED TO ADVANCE OR A BANKRUPTCY PETITION HAS
BEEN FILED.
<TABLE>
<S> <C> <C> <C>
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution
& Servicing Agreement Section 7.02 $0.00
Change in any of the above detail during the related Collection Period YES NO X
--- --------
</TABLE>
<PAGE> 9
DVI BUSINESS TRUST 1998-2
SERVICER REPORT
FOR THE PAYMENT DATE APRIL 12, 1999
XV. Pool Performance Measurements
1. Aggregate Discounted Contract Balance
<TABLE>
<CAPTION>
Contracts Delinquent > 90 days Total Outstanding Contracts
<S> <C> <C> <C>
This Month 2,266,917.61 This Month 200,933,136.69
1 Month Prior 1,990,421.08 1 Month Prior 205,209,149.97
2 Months Prior 2,374,809.38 2 Months Prior 209,476,879.53
Total 6,632,148.07 Total 615,619,166.19
a) 3 Month Average 2,210,716.02 b) 3 Month Average 205,206,388.73
c) a/b 1.08%
</TABLE>
<TABLE>
<S> <C> <C>
2. Does a Delinquency Condition Exist (1c > 6% )?
Yes No X
-------- ----------
3. Restricting Event Check
A. A Delinquency Condition exists for current period? Yes No X
-------- ----------
B. An Indenture Event of Default has occurred and is then continuing? Yes No X
-------- ----------
4. Has a Servicer Event of Default occurred? Yes No X
-------- ----------
5. Amortization Event Check
A. Is 1c > 8% ? Yes No X
-------- ----------
B. Bankruptcy, insolvency, reorganization; default/violation of any
covenant or obligation not remedied within 90 days? Yes No X
-------- ----------
C. As of any Determination date, the sum of all defaulted contracts
since the Closing date exceeds 6% of the ADCB on the Closing Date? Yes No X
-------- ----------
</TABLE>
<TABLE>
<S> <C>
6. Aggregate Discounted Contract Balance at Closing Date Balance $ 218,254,123.54
------------------
</TABLE>
DELINQUENT LEASE SUMMARY
<TABLE>
<CAPTION>
Days Past Due Current Pool Balance # Leases
------------- -------------------- --------
<S> <C> <C> <C>
31 - 60 4,221,110.20 190
61 - 90 3,928,178.48 72
91 - 180 2,266,917.61 72
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
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