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Previous: NATIONS BALANCED TARGET MATURITY FUND INC, NSAR-B, 1997-05-28 |
Next: CNL AMERICAN PROPERTIES FUND INC, 8-K, 1997-05-28 |
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):
March 20, 1997
April 21, 1997
May 20, 1997
FINGERHUT MASTER TRUST
FINGERHUT RECEIVABLES, INC.
(Originator of the Fingerhut Master Trust)
(Exact name of registrant as specified in its charter)
Delaware 033-77780 41-1783128
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
4400 Baker Road, Suite F480, Minnetonka, Minnesota 55343
(Address of principal executive offices)
(612) 936-5035
(Registrant's telephone number, including area code)
FINGERHUT RECEIVABLES, INC.
Current Report on Form 8-K
Item 7. Financial Statements and Exhibits
Ex. 20.a February Series 1994-1 Servicing Statement
Ex. 20.b March Series 1994-1 Servicing Statement
Ex. 20.c April Series 1994-1 Servicing Statement
SIGNATURE
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.
FINGERHUT RECEIVABLES, INC.
By /s/James M. Wehmann
James M. Wehmann
Vice President,
Assistant Treasurer
Dated: May 21, 1997
<TABLE>
Fingerhut Receivables, Inc. Fingerhut Master Trust Monthly Report
Certificateholder's Statement Series 1994-1 Feb-97
<S> <S>
Section 5.2 Class A Class B Class C Class D Total
(i) Certificate Amount 596,583,333.34 92,050,000.00 92,050,000.00 122,728,000.00 903,411,333.34
(ii) Certificate Principal Distributed 59,658,333.33 0.00 0.00 59,658,333.33
(iii) Certificate Interest Distributed 2,633,252.55 427,776.81 456,414.58 3,517,443.94
Total Distribution per $1,000 Certificate
Certificate Principal Distributed per $1,000 83.3333333 0.0000000 0.0000000
Certificate Interest Distributed per $1,000 4.4138889 4.6472223 4.9583333
(iv) Principal Collections 60,295,882.99 7,752,809.08 7,752,809.08 10,336,629.59 86,138,130.74
(v) Imputed Yield Collections 18,007,741.28 2,584,269.68 2,584,269.68 3,421,373.62 26,597,654.26
Recoveries 1,745,271.11 269,287.12 269,287.12 358,928.78 2,642,774.13
Interest Earned on Prefunded Accounts 0.00 0.00 0.00 0.00 0.00
Total Imputed Yield Collections 19,753,012.39 2,853,556.80 2,853,556.80 3,780,302.40 29,240,428.39
Total Collections 80,048,895.38 10,606,365.88 10,606,365.88 14,116,931.99 115,378,559.13
(vi) Aggregate Amount of Principal Receivables 1,317,417,557.30
Invested Amount (End of Month) 596,583,333.34 92,050,000.00 92,050,000.00 122,728,000.00 903,411,333.34
Floating Allocation Percentage 45.2843011% 6.9871545% 6.9871545% 9.3158012% 68.5744112%
Invested Amount (Beginning of Month) 656,241,666.67 92,050,000.00 92,050,000.00 122,728,000.00 963,069,666.67
Average Daily Invested Amount 946,961,467.46
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 75.99% 1,334,736,052.85
30 Days to 59 Days 6.33% 111,220,860.47
60 Days to 89 Days 3.89% 68,361,536.48
90 Days and Over 13.79% 242,238,293.27
Total Receivables 100.00% 1,756,556,743.07
(viii) Aggregate Investor Default Amount 19,257,802.79
As a % of Average Daily Invested Amount (Annualized based on 365 days/year) 21.21%
(ix) Certificate Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Certificate Charge-Offs 0.00
(x) Servicing Fee
Class A 1,093,736.00
Class B 153,416.55
Class C 153,416.55
Class D 204,546.65
Total Servicing Fee 1,605,115.75
(xi) Pool Factor
Class A 0.7500000
Class B 1.0000000
Class C 1.0000000
(xii) Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D
** Everything was reimbursed by the end of the fiscal month. 3,421,969.35
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
(xiv) Class C Trigger Event Occurrence None
Class C Reserve Amount N/A
Average Net Portfolio Yield 10.9935%
Minimum Base Rate 7.7845%
</TABLE>
<TABLE>
Fingerhut Receivables, Inc. Fingerhut Master Trust Monthly Report
Certificateholder's Statement Series 1994-1 Mar-97
<S> <S>
Section 5.2 Class A Class B Class C Class D Total
(i) Certificate Amount 536,925,000.00 92,050,000.00 92,050,000.00 122,728,000.00 843,753,000.00
(ii) Certificate Principal Distributed 59,658,333.33 0.00 0.00 59,658,333.33
(iii) Certificate Interest Distributed 2,768,146.67 499,115.56 531,844.44 3,799,106.67
Total Distribution per $1,000 Certificate
Certificate Principal Distributed per $1,000 83.3333333 0.0000000 0.0000000
Certificate Interest Distributed per $1,000 3.8666667 5.4222223 5.7777777
(iv) Principal Collections 55,173,322.19 7,094,153.23 7,094,153.23 9,458,459.96 78,820,088.61
(v) Imputed Yield Collections 14,873,357.22 2,362,952.88 2,362,952.88 3,139,899.85 22,739,162.83
Recoveries 1,780,498.98 305,247.35 305,247.35 406,978.77 2,797,972.45
Interest Earned on Prefunded Accounts 0.00 0.00 0.00 0.00 0.00
Total Imputed Yield Collections 16,653,856.20 2,668,200.23 2,668,200.23 3,546,878.62 25,537,135.28
Total Collections 71,827,178.39 9,762,353.46 9,762,353.46 13,005,338.58 104,357,223.89
(vi) Aggregate Amount of Principal Receivables 1,304,832,819.16
Invested Amount (End of Month) 536,925,000.00 92,050,000.00 92,050,000.00 122,728,000.00 843,753,000.00
Floating Allocation Percentage 41.1489497% 7.0545436% 7.0545436% 9.4056494% 64.6636862%
Invested Amount (Beginning of Month) 596,583,333.33 92,050,000.00 92,050,000.00 122,728,000.00 903,411,333.33
Average Daily Invested Amount 883,956,285.85
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 77.71% 1,352,016,552.82
30 Days to 59 Days 5.56% 96,733,904.36
60 Days to 89 Days 3.21% 55,829,400.58
90 Days and Over 13.52% 235,197,234.45
Total Receivables 100.00% 1,739,777,092.21
(viii) Aggregate Investor Default Amount 14,928,543.62
As a % of Average Daily Invested Amount
(Annualized based on 365 days/year) 22.02%
(ix) Certificate Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Certificate Charge-Offs 0.00
(x) Servicing Fee
Class A 994,305.48
Class B 153,416.76
Class C 153,416.76
Class D 204,546.72
Total Servicing Fee 1,505,685.72
(xi) Pool Factor
Class A 0.6666667
Class B 1.0000000
Class C 1.0000000
(xii) Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D ** Everything was reimbursed
by the end of the fiscal month. 2,037,154.55
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
(xiv) Class C Trigger Event Occurrence None
Class C Reserve Amount N/A
Average Net Portfolio Yield 15.6445%
Minimum Base Rate 7.9179%
</TABLE>
<TABLE>
Fingerhut Receivables, Inc. Fingerhut Master Trust Monthly Report
Certificateholder's Statement Series 1994-1 Apr-97
<S> <S>
Section 5.2 Class A Class B Class C Class D Total
(i) Certificate Amount 477,266,666.67 92,050,000.00 92,050,000.00 122,728,000.00 784,094,666.67
(ii) Certificate Principal Distributed 59,658,333.33 0.00 0.00 59,658,333.33
(iii) Certificate Interest Distributed 2,301,983.08 466,226.86 495,887.41 3,264,097.35
Total Distribution per $1,000 Certificate (Original Class A Certificate Amount = $715,900,000.00)
Certificate Principal Distributed per $1,000 83.3333333 0.0000000 0.0000000
Certificate Interest Distributed per $1,000 3.2155093 5.0649306 5.3871527
(iv) Principal Collections 53,273,442.40 6,849,867.81 6,849,867.81 9,132,760.21 76,105,938.23
(v) Imputed Yield Collections 13,013,492.64 2,281,947.29 2,281,947.29 3,027,004.67 20,604,391.89
Recoveries 1,660,910.38 320,338.32 320,338.32 427,045.26 2,728,632.28
Interest Earned on Prefunded Accounts 0.00 0.00 0.00 0.00 0.00
Total Imputed Yield Collections 14,674,403.02 2,602,285.61 2,602,285.61 3,454,049.93 23,333,024.17
Total Collections 67,947,845.42 9,452,153.42 9,452,153.42 12,586,810.14 99,438,962.40
(vi) Aggregate Amount of Principal Receivables 1,251,235,356.32
Invested Amount (End of Month) 477,266,666.67 92,050,000.00 92,050,000.00 122,728,000.00 784,094,666.67
Floating Allocation Percentage 38.1436365% 7.3567295% 7.3567295% 9.8085464% 62.6656418%
Invested Amount (Beginning of Month) 536,925,000.00 92,050,000.00 92,050,000.00 122,728,000.00 843,753,000.00
Average Daily Invested Amount 832,576,894.35
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 76.95% 1,283,881,665.02
30 Days to 59 Days 6.57% 109,586,537.73
60 Days to 89 Days 3.35% 55,836,946.59
90 Days and Over 13.13% 219,008,659.09
Total Receivables 100.00% 1,668,313,808.43
(viii) Aggregate Investor Default Amount 13,612,567.57
As a % of Average Daily Invested Amount
(Annualized based on 365 days/year) 21.31%
(ix) Certificate Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Certificate Charge-Offs 0.00
(x) Servicing Fee
Class A 894,874.96
Class B 153,416.76
Class C 153,416.76
Class D 204,546.72
Total Servicing Fee 1,406,255.20
(xi) Pool Factor
Class A 0.5833333
Class B 1.0000000
Class C 1.0000000
(xii) Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D
** Everything was reimbursed by the end of the fiscal month. 2,650,270.62
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
(xiv) Class C Trigger Event Occurrence None
Class C Reserve Amount N/A
Average Net Portfolio Yield 15.2194%
Minimum Base Rate 8.1152%
</TABLE>
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