<PAGE>1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
-----------
Date of Report (Date of earliest event reported)
January 1, 2001
-----------------------------------------
CRIIMI MAE FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Maryland 33-94694 52-1931369
(State of (Commission (IRS Employer
incorporation) File Number) Identification No.)
11200 Rockville Pike, Rockville, Maryland 20852
----------------------------------------- ---------------
(Address of principal executive offices) (Zip Code)
(301) 816-0590
----------------------------------------------------------------
(Registrant's telephone number, including area code)
----------------------------------------------------------------
(Former name or former address, if changed since last report)
Exhibit Index is on Page 4
<PAGE>2
Item 5. Other Events
------------
Attached hereto is the Report to Mortgage Certificateholders for the
payment date January 1, 2001, concerning CRIIMI MAE Financial Corporation's
7.00% Collateralized Mortgage Obligations due January 1, 2033.
Item 7. Financial Statements and Exhibits
---------------------------------
Exhibit 20.1 CRIIMI MAE Financial Corporation
7.00% Collateralized Mortgage Obligations due January
1, 2033, Report to Mortgage Certificateholders
dated January 1, 2001.
<PAGE>3
S I G N A T U R E
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Registrant has duly caused this report to be signed by the undersigned,
thereunto duly authorized.
CRIIMI MAE Financial Corporation
By:/s/ Cynthia O. Azzara
-----------------------------
Cynthia O. Azzara
Its: Chief Financial Officer/
Senior Vice President
<PAGE>4
Index to Exhibits
Exhibit No. Description Page
----------- ----------- ----
20.1 CRIIMI MAE 5
Financial Corporation
7.00% Collateralized
Mortgage
Obligations due
January 1, 2033,
Report to Mortgage
Certificateholders
dated January 1, 2001
<PAGE>5
Exhibit 20.1
------------
State Street
Corporate Trust Department
Securities Administration
Report to Mortgage Certificateholders
Trustee Report
Contents
Principal and Interest Details 6 Delinquency 7
Detailed distribution amounts Other Information 8
Balance Information 6 Supplement Loan Level
remittance and delinquency
information
<PAGE>6
CRIIMI MAE Financial Corporation
7.00% Collateralized Mortgage Obligations
Payment Date: January 1, 2001
<TABLE><CAPTION>
Principal Distribution Detail
Scheduled Principal FHA Insurance Realized Net Principal
Principal Prepayments Proceeds Losses Distribution
------------ ------------ ------------- -------- -------------
<S> <C> <C> <C> <C> <C>
Mortgages $ 41,970.92 $ 0.00 $ 0.00 $ 0.00 $ 41,970.92
GNMA $ 53,798.25 N/A N/A $ 0.00 $ 53,798.25
Total $ 95,769.17 $ 0.00 $ 0.00 $ 0.00 $ 95,769.17
Interest Distribution Detail
Net Int. Dist.
Interest Interest Strip Incl. Prepay
Amount Amount Penalty
------------- ------------- --------------
<S> <C> <C> <C>
Mortgages $ 390,763.53 $ 31,899.46 $ 358,864.07
GNMA $ 422,373.04 N/A $ 422,373.04
Total $ 813,136.57 $ 31,899.46 $ 781,237.11
Interest Payable on Bonds
Beginning Interest Interest Additional
Balance Rate (Fixed) Payable Interest Payable
--------------- ------------ ----------- ----------------
<C> <C> <C> <C>
$117,729,664.96 7.00% $686,756.38 $ 0.00
</TABLE>
<TABLE><CAPTION>
Balance Information
-------------------
Principal Balance of Collateral
Actual Beginning Actual Principal Actual Ending
Balance Payable Balance
---------------- ---------------- ---------------
<S> <C> <C> <C>
FHA Mortgages $ 61,340,337.59 $ 41,970.92 $ 61,298,366.67
GNMA $ 63,260,963.50 $ 53,798.25 $ 63,207,165.25
Total $ 124,601,301.09 $ 95,769.17 $124,505,531.92
Principal Balance of Bonds
Beginning Principal Ending
Balance Payable Balance
--------------- -------------- ---------------
<C> <C> <C>
$117,729,664.96 $ 95,769.17 $117,633,895.79
</TABLE>
<PAGE>7
State Street
Corporate Trust Department
Securities Administration
Report to Mortgage Certificateholders
Trustee Report
CRIIMI MAE Financial Corporation
7.00% Collateralized Mortgage Obligations
Payment Date: January 1, 2001
<TABLE>
<CAPTION>
Delinquency Information
-----------------------
Delinquent Mortgage Loans
One Month Two Months Three Months+ Foreclosures
-------------- ------------- ------------- ------------
<S> <C> <C> <C> <C>
Number 0 0 3 0
Scheduled Principal Balance $ 0.00 $ 0.00 $7,350,671.71 $ 0.00
Actual Principal Balance $ 0.00 $ 0.00 $7,359,374.86 $ 0.00
Delinquent Mortgage Loans Detail
Actual
Stated
Months Loan Principal Status of
Delinquent Number Balance Foreclosure
------------- --------- -------------- -----------
<C> <C> <C> <C>
3 158920 $ 1,756,767.22 N/A
3 158925 $ 2,837,683.77 N/A
3 158926 $ 2,764,923.87 N/A
$ 7,359,374.86
Liquidations 0
Loan Nature of Final Recovery FHA Realized
Number Liquidation Determination Proceeds Loss
------ ----------- -------------- -------- --------
<C> <C> <C> <C> <C>
</TABLE>
<PAGE>8
State Street
Corporate Trust Department
Securities Administration
Report to Mortgage Certificateholders
Trustee Report
CRIIMI MAE Financial Corporation
7.00% Collateralized Mortgage Obligations
Payment Date: January 1, 2001
Other Information
-----------------
P&I Advances
Aggregate P&I Advances $0.00
Aggregate unreimbursed P&I Advances $0.00
Interest on P&I Advances paid to Master Servicer $0.00
Interest accrued on unreimbursed P&I Advances $0.00
Realized Losses
Aggregate Realized Losses incurred $0.00
Fees
Master Trustee
Servicing Fee Fee
------------- ---------
Mortgages $ 2,555.85 $ 460.05
GNMA $ 2,635.87 $ 474.46
Total $ 5,191.72 $ 934.51
Disclaimer Notice
-----------------
Notice: This report has been prepared by or based on information furnished
to State Street Bank and Trust Company ("State Street") by one or more third
parties (e.g., Servicer, Master Servicer, etc.). State Street shall not have and
does not undertake responsibility for the accuracy or completeness of
information provided by such third parties, and makes no representation or
warranty with respect to the accuracy or completeness thereof or the sufficiency
thereof for any particular purpose. State Street has not independently verified
information received from third parties, and shall have no liability for any
inaccuracies therein or caused thereby.
<PAGE>9
CRIIMI MAE FINANCIAL CORPORATION
7.00% Collateralized Mortgage Obligations
Due 1/1/2033
Payment Date: 01-December-00
<TABLE><CAPTION>
Scheduled Actual
Maturity Note Net Pass-thru I/O Beginning Beginning
Loan No. Property Name Date Rate Rate Rate Rate Balance Balance
-------- ------------- -------- ------ ------ --------- ------ ------------- -------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
031-35192 Aspen-Linwood Garden Apts. 10/01/27 8.375% 8.125% 8.066% 0.125% 2,733,456.24 2,733,456.03
086-15001 Austin Hewitt House - II 01/01/31 9.500% 9.250% 9.191% 0.875% 230,713.62 230,713.60
086-43027 Austin Hewitt House Expansion 01/01/31 10.750% 10.500% 10.441% 1.500% 1,056,591.17 1,056,587.78
117-43049 Bell Avenue Nursing Home 09/01/31 11.000% 10.580% 10.521% 2.455% 1,834,287.22 1,834,280.07
072-43092 Centralia Fireside 10/01/32 9.125% 8.625% 8.566% 0.125% 2,835,205.07 2,837,683.77
072-43093 Centralia Friendship 11/01/32 9.000% 8.500% 8.441% 0.000% 2,762,457.41 2,764,923.87
114-11126 Country Place - Sealy, TX 05/01/29 9.000% 8.750% 8.691% 2.125% 396,359.64 396,359.72
052-43041 Devlin Manor 10/01/32 10.000% 9.950% 9.891% 1.200% 5,560,446.15 5,560,446.57
016-43064 Eastgate Nursing 07/01/33 9.625% 9.250% 9.191% 1.250% 1,761,817.50 1,761,817.55
083-10013 Guardian Court Apts 06/01/34 8.750% 8.625% 8.566% 2.000% 2,172,866.66 2,172,866.63
073-14001 Harborside Apartments 02/01/19 10.250% 10.150% 10.091% 2.025% 2,118,570.38 2,118,568.47
118-43026 Highland Park Manor 01/01/31 11.000% 10.375% 10.316% 1.375% 2,428,200.26 2,428,185.07
073-12003 Lakeside Gardens 02/01/26 10.250% 10.150% 10.091% 2.025% 2,528,906.99 2,528,904.89
053-11020 Melvid Court 01/01/23 8.000% 7.875% 7.816% 0.000% 827,102.98 827,102.99
092-35450 Park at City West 02/01/27 8.125% 7.750% 7.691% 0.000% 8,774,365.80 8,774,366.18
053-43083 Quality Link 06/01/32 10.250% 10.100% 10.041% 1.350% 1,756,150.80 1,756,767.22
062-11019 Riverchase Garden Apts 02/01/27 8.750% 8.550% 8.491% 0.550% 6,047,938.14 6,047,937.09
117-43048 Southern Oaks Nursing Home 01/01/31 11.000% 10.375% 10.316% 1.375% 2,396,698.18 2,396,690.50
000-43043 Stoddard Baptist Nursing Home 03/01/27 8.000% 7.900% 7.841% 0.000% 9,001,638.69 9,001,637.58
121-35818 Woodcreek Apartments 10/01/26 7.250% 7.125% 7.066% 0.000% 4,111,037.20 4,111,037.50
--------------- ---------------
FHA Subtotal 11/23/28 9.03% 8.77% 8.71% 0.70% 61,334,810.11 61,340,333.08
</TABLE>
<PAGE>10
CRIIMI MAE FINANCIAL CORPORATION
7.00% Collateralized Mortgage Obligations
Due 1/1/2033
Payment Date: 01-January-01
<TABLE>
<CAPTION>
Scheduled Actual Scheduled Actual Scheduled Actual Net
P & I P & I Principal Principal Interest Interest
Loan No. Property Name (Gross) (Net) Payment Payment Payment Payment
-------- ------------- ------------ ------------- ---------- ------------- ------------ ------------
<S> <C> <C> <C> <C> <C> <C> <C>
031-35192 Aspen-Linwood Garden Apts. 21,333.83 20,764.36 2,256.58 2,256.58 18,507.78 18,507.78
086-15001 Austin Hewitt House - II 1,938.08 1,890.02 111.60 111.60 1,778.42 1,778.42
086-43027 Austin Hewitt House Expansion 9,855.73 9,635.60 390.43 390.46 9,245.17 9,245.14
117-43049 Bell Avenue Nursing Home 17,409.23 16,767.25 594.95 595.01 16,172.30 16,172.24
072-43092 Centralia Fireside 22,822.81 0.00 1,263.58 0.00 20,377.90 0.00
072-43093 Centralia Friendship 21,974.50 0.00 1,256.21 0.00 19,567.27 0.00
114-11126 Country Place - Sealy, TX 3,223.00 3,140.42 250.30 250.30 2,890.12 2,890.12
052-43041 Devlin Manor 48,350.87 48,119.21 2,013.84 2,013.84 46,105.37 46,105.37
016-43064 Eastgate Nursing 14,776.18 14,225.62 644.94 644.94 13,580.68 13,580.68
083-10013 Guardian Court Apts 16,739.55 16,513.21 895.73 895.73 15,617.48 15,617.48
073-14001 Harborside Apartments 21,421.99 21,245.45 3,325.87 3,325.89 17,919.57 17,919.56
118-43026 Highland Park Manor 24,079.96 22,815.28 1,821.47 1,821.60 20,993.81 20,993.68
073-12003 Lakeside Gardens 23,377.55 23,166.82 1,776.47 1,776.50 21,390.34 21,390.32
053-11020 Melvid Court 6,649.56 6,563.40 1,135.54 1,135.54 5,427.86 5,427.86
092-35450 Park at City West 67,461.92 64,719.93 8,052.15 8,052.15 56,667.78 56,667.78
053-43083 Quality Link 15,617.01 0.00 621.78 0.00 14,775.79 0.00
062-11019 Riverchase Garden Apts 49,076.61 48,068.63 4,977.07 4,977.08 43,091.56 43,091.55
117-43048 Southern Oaks Nursing Home 22,808.19 21,559.92 838.46 838.53 20,721.45 20,721.39
000-43043 Stoddard Baptist Nursing Home 68,388.21 67,638.08 8,377.29 8,377.30 59,260.79 59,260.78
121-35818 Woodcreek Apartments 29,345.41 28,917.18 4,507.89 4,507.89 24,409.28 24,409.29
----------- ------------ ------------ ---------- ------------ ------------
FHA Subtotal 506,650.19 435,750.37 45,112.16 41,970.94 448,500.72 393,779.43
</TABLE>
<PAGE>11
CRIIMI MAE FINANCIAL CORPORATION
7.00% Collateralized Mortgage Obligations
Due 1/1/2033
Payment Date: 01-January-01
<TABLE>
<CAPTION>
Interest WL/NIS Scheduled Actual Delinq
Loan No. Property Name Strip Interest Ending Bal. Ending Bal. Status
-------- ------------- ----------- ----------- -------------- ------------- ---------
<S> <C> <C> <C> <C> <C> <C>
031-35192 Aspen-Linwood Garden Apts. 284.74 18,223.04 2,731,199.67 2,731,199.45
086-15001 Austin Hewitt House - II 0.00 1,778.42 230,602.02 230,602.00
086-43027 Austin Hewitt House Expansion 0.00 9,245.14 1,056,200.74 1,056,197.32
117-43049 Bell Avenue Nursing Home 3,752.63 12,419.60 1,833,692.27 1,833,685.06
072-43092 Centralia Fireside 0.00 0.00 2,833,941.49 2,837,683.77 3 months
072-43093 Centralia Friendship 0.00 0.00 2,761,201.20 2,764,923.87 3 months
114-11126 Country Place - Sealy, TX 701.89 2,188.24 396,109.34 396,109.42
052-43041 Devlin Manor 5,560.45 40,544.92 5,558,432.30 5,558,432.73
016-43064 Eastgate Nursing 1,835.23 11,745.45 1,761,172.56 1,761,172.61
083-10013 Guardian Court Apts 3,621.44 11,996.03 2,171,970.93 2,171,970.90
073-14001 Harborside Apartments 3,575.08 14,344.47 2,115,244.51 2,115,242.58
118-43026 Highland Park Manor 2,782.30 18,211.39 2,426,378.80 2,426,363.47
073-12003 Lakeside Gardens 4,267.53 17,122.79 2,527,130.52 2,527,128.39
053-11020 Melvid Court 0.00 5,427.86 825,967.44 825,967.45
092-35450 Park at City West 0.00 56,667.78 8,766,313.64 8,766,314.03
053-43083 Quality Link 0.00 0.00 1,755,529.02 1,756,767.22 3 months
062-11019 Riverchase Garden Apts 2,771.97 40,319.58 6,042,961.07 6,042,960.01
117-43048 Southern Oaks Nursing Home 2,746.21 17,975.18 2,395,859.71 2,395,851.97
000-43043 Stoddard Baptist Nursing Home 0.00 59,260.78 8,993,261.40 8,993,260.28
121-35818 Woodcreek Apartments 0.00 24,409.29 4,106,529.31 4,106,529.61
------------- ------------ -------------- -------------
FHA Subtotal 31,899.46 361,879.97 61,289,697.95 61,298,362.14
</TABLE>
<PAGE>12
CRIIMI MAE FINANCIAL CORPORATION
7.00% Collateralized Mortgage Obligations
Due 1/1/2033
Payment Date: 01-January-01
<TABLE>
<CAPTION>
Scheduled Actual
Maturity Note GNMA Pass-thru Beginning Beginning
Loan No. Property Name Date Rate Rate Rate Balance Balance
-------- ------------- ---------- ------ ------ --------- --------------- --------------
<S> <C> <C> <C> <C> <C> <C> <C>
364007 Baptist Retirement System 06/15/18 8.250% 8.000% 7.941% 2,967,524.21 2,958,906.90
364008 Bellhaven Nursing Center 12/15/31 8.625% 8.375% 8.316% 13,961,690.45 13,961,688.51
385399 Capital Crossing Apts 05/15/21 7.980% 7.730% 7.671% 10,006,673.78 10,006,672.82
186741 Cedar Courts 05/15/29 8.500% 8.250% 8.191% 986,946.71 986,946.76
355545 Cherry Creek Duplexes 04/15/20 8.125% 7.875% 7.816% 2,901,814.67 2,901,814.73
383725 Elwood Gardens 06/15/29 8.150% 7.875% 7.816% 2,523,496.17 2,523,496.13
382271 Fox Hills Apartments 05/15/24 8.700% 8.250% 8.191% 942,141.33 942,141.32
332150 Koh Apartments 02/15/28 8.250% 8.000% 7.941% 1,000,554.28 1,000,553.10
391963 Marshall House 06/15/34 8.250% 8.000% 7.941% 1,306,844.66 1,306,843.73
318504 Plaza Apartments 11/15/30 8.000% 7.750% 7.691% 1,255,962.13 1,255,962.47
365647 The Rebecca Apartments 03/15/34 8.500% 8.250% 8.191% 3,051,253.43 3,051,253.55
400387 Regal Ridge Apartments 04/15/35 8.250% 8.000% 7.941% 4,380,143.94 4,380,143.91
321020 Regent Apartments 11/15/27 8.250% 8.000% 7.941% 4,136,074.57 4,136,073.34
398270 River Chase II 12/15/34 8.125% 7.875% 7.816% 4,684,112.98 4,684,111.46
364019 Riverview Health 06/15/34 8.625% 8.250% 8.191% 9,164,354.69 9,164,354.69
--------------- ---------------
GNMA Subtotal 10/01/29 8.34% 8.07% 8.01% 63,269,588.00 63,260,963.42
Total 05/01/29 8.69% 8.42% 8.36% 124,604,398.11 124,601,296.50
</TABLE>
<PAGE>13
CRIIMI MAE FINANCIAL CORPORATION
7.00% Collateralized Mortgage Obligations
Due 1/1/2033
Payment Date: 01-January-01
<TABLE>
<CAPTION>
Scheduled Actual Scheduled Actual Scheduled Actual Net
P & I P & I Principal Principal Interest Interest
Loan No. Property Name (Gross) (Net) Payment Payment Payment Payment
-------- ------------- ------------ ------------- ----------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
364007 Baptist Retirement System 26,719.70 26,103.26 6,377.21 6,377.21 19,726.05 19,726.05
364008 Bellhaven Nursing Center 107,805.31 104,896.60 7,455.65 7,455.65 97,440.95 97,440.95
385399 Capital Crossing Apts 82,749.62 80,664.95 16,205.30 16,205.30 64,459.65 64,459.65
186741 Cedar Courts 7,677.73 7,472.11 686.85 686.85 6,785.26 6,785.26
355545 Cherry Creek Duplexes 24,794.25 24,189.70 5,146.54 5,146.54 19,043.16 19,043.16
383725 Elwood Gardens 19,003.15 18,424.86 1,864.42 1,864.42 16,560.44 16,560.44
382271 Fox Hills Apartments 7,854.81 7,501.52 1,024.30 1,024.30 6,477.22 6,477.22
332150 Koh Apartments 7,697.96 7,489.52 819.17 819.17 6,670.35 6,670.35
391963 Marshall House 9,590.88 9,318.63 606.34 606.34 8,712.29 8,712.29
318504 Plaza Apartments 9,215.81 8,954.14 842.72 842.72 8,111.42 8,111.42
365647 The Rebecca Apartments 22,978.10 22,342.39 1,365.02 1,365.02 20,977.37 20,977.37
400387 Regal Ridge Apartments 32,002.70 31,090.17 1,889.21 1,889.21 29,200.96 29,200.96
321020 Regent Apartments 31,900.62 31,038.92 3,465.10 3,465.10 27,573.82 27,573.82
398270 River Chase II 33,873.94 32,898.11 2,158.63 2,158.63 30,739.48 30,739.48
364019 Riverview Health 69,760.58 66,896.73 3,891.79 3,891.79 63,004.94 63,004.94
------------ ------------ ------------ ---------- ------------ -------------
GNMA Subtotal 493,625.16 479,281.62 53,798.25 53,798.25 425,483.37 425,483.37
Total 1,000,275.35 915,031.99 98,910.41 95,769.19 873,984.09 819,262.80
</TABLE>
<PAGE>14
CRIIMI MAE FINANCIAL CORPORATION
7.00% Collateralized Mortgage Obligations
Due 1/1/2033
Payment Date: 01-January-01
<TABLE>
<CAPTION>
Scheduled Actual Delinquency
Loan No. Property Name Ending Bal. Ending Bal. Status
-------- ------------- -------------- -------------- -----------
<S> <C> <C> <C> <C>
364007 Baptist Retirement System 2,961,147.00 2,952,529.69
364008 Bellhaven Nursing Center 13,954,234.80 13,954,232.86
385399 Capital Crossing Apts 9,990,468.48 9,990,467.52
186741 Cedar Courts 986,259.86 986,259.91
355545 Cherry Creek Duplexes 2,896,668.13 2,896,668.19
383725 Elwood Gardens 2,521,631.75 2,521,631.71
382271 Fox Hills Apartments 941,117.03 941,117.02
332150 Koh Apartments 999,735.11 999,733.93
391963 Marshall House 1,306,238.32 1,306,237.39
318504 Plaza Apartments 1,255,119.41 1,255,119.75
365647 The Rebecca Apartments 3,049,888.41 3,049,888.53
400387 Regal Ridge Apartments 4,378,254.73 4,378,254.70
321020 Regent Apartments 4,132,609.47 4,132,608.24
398270 River Chase II 4,681,954.35 4,681,952.83
364019 Riverview Health 9,160,462.90 9,160,462.90
-------------- --------------
GNMA Subtotal 63,215,789.75 63,207,165.17
Total 124,505,487.70 124,505,527.31
</TABLE>
