American Residential Eagle Bond Trust Monthly Certificateholder Distribution Statement (August 25, 2000)

Contract Categories: Business Operations › Administration Agreements
Summary

This document is a monthly payment statement from the American Residential Eagle Bond Trust, dated August 25, 2000. It summarizes the distribution of principal and interest payments to certificateholders for specific classes of trust certificates. The statement details beginning and ending balances, interest rates, distributions, and any realized losses for each class. All calculations are made in accordance with the Pooling and Servicing Agreement, and the report is prepared by the Certificate Administrator on behalf of the Trustee.

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EX-10.1 2 f65348ex10-1.txt MONTHLY PAYMENT STATEMENT, DATED AUGUST 25, 2000 1 [American Residential Eagle Bond Trust Letterhead] EXHIBIT 10.1 Certificateholder Distribution Summary
========================================================================================== Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution ========================================================================================== A 02926NAA4 SEQ 6.97000% 141,684,900.16 850,384.89 INV_CERT ARE991INV SUB 0.00000% 5,248,284.26 102,777.62 ========================================================================================== Totals 146,933,184.42 953,162.51 ==========================================================================================
========================================================================================== Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses ========================================================================================== A 7,438,755.06 0.00 134,246,145.10 8,289,139.95 0.00 INV_CERT 0.00 0.00 5,316,432.65 102,777.62 0.00 ========================================================================================== Totals 7,438,755.06 0.00 139,562,577.75 8,391,917.57 0.00 ==========================================================================================
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee 22-Aug-2000 5:10PM 2 [American Residential Eagle Bond Trust Letterhead] Principal Distribution Statement
========================================================================================== Beginning Scheduled Unscheduled Original Face Certificate Principal Principal Class Amount Balance Distribution Distribution Accretion ========================================================================================== A 229,000,000.00 141,684,900.16 0.00 7,438,755.06 0.00 INV_CERT 7,285,896.30 5,248,284.26 0.00 0.00 0.00 ========================================================================================== Totals 236,285,896.30 146,933,184.42 0.00 7,438,755.06 0.00 ==========================================================================================
========================================================================================== Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss(1) Reduction Balance Percentage Distribution ========================================================================================== A 0.00 7,438,755.06 134,246,145.10 0.58622771 7,438,755.06 INV_CERT 0.00 0.00 5,316,432.65 0.72968821 0.00 ========================================================================================== Totals 0.00 7,438,755.06 139,562,577.75 0.59065133 7,438,755.06 ==========================================================================================
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A Full Description. 3 [American Residential Eagle Bond Trust Letterhead] Principal Distribution Factors Statement
========================================================================================== Beginning Scheduled Unscheduled Original Face Certificate Principal Principal Class(2) Amount Balance Distribution Distribution Accretion ========================================================================================== A 229,000,000.00 618,711,354.41 0.00000000 32,483,646.55 0.00000000 INV_CERT 7,285,896.30 720,334,745.91 0.00000000 0.00000000 0.00000000 ==========================================================================================
========================================================================================== Total Ending Ending Total Realized Principal Certificate Certificate Principal Class(2) Loss(3) Reduction Balance Percentage Distribution ========================================================================================== A 0.00000000 32,483,646.55 586,227,707.86 0.58622771 32,483,646.55 INV_CERT 0.00000000 0.00000000 729,688,212.83 0.72968821 0.00000000 ==========================================================================================
(2) All Denominations Are Per $1,000. (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A Full Description. 4 [American Residential Eagle Bond Trust Letterhead] Interest Distribution Statement
============================================================================================ Beginning Payment of Current Certificate/ Current Unpaid Original Face Certificate Notional Accrued Interest Class Amount Rate Balance Interest Shortfall ============================================================================================ A 229,000,000.00 6.97000% 141,684,900.16 850,384.90 0.00 INV_CERT 7,285,896.30 0.00000% 5,248,284.26 0.00 0.00 ============================================================================================ Totals 236,285,896.30 850,384.90 0.00 ============================================================================================
============================================================================================ Remaining Ending Current Non-Supported Total Unpaid Certificate/ Interest Interest Realized Interest Interest Notional Class Shortfall Shortfall Losses(4) Distribution Shortfall Balance ============================================================================================ A 0.00 0.00 0.00 850,384.89 0.00 134,246,145.10 INV_CERT 0.00 0.00 0.00 102,777.62 0.00 5,316,432.65 ============================================================================================ Totals 0.00 0.00 0.00 953,162.51 0.00 ============================================================================================
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A Full Description. 5 [American Residential Eagle Bond Trust Letterhead] Interest Distribution Factors Statement
================================================================================================ Beginning Payment of Current Certificate/ Current Unpaid Original Face Certificate Notional Accrued Interest Class(5) Amount Rate Balance Interest Shortfall ================================================================================================ A 229,000,000.00 6.97000% 618,711,354.41 3,713,471.18 0.00000000 INV_CERT 7,285,896.30 0.00000% 720,334,745.91 0.00000000 0.00000000 ================================================================================================
================================================================================================ Remaining Ending Current Non-Supported Total Unpaid Certificate/ Interest Interest Realized Interest Interest Notional Class(5) Shortfall Shortfall Losses(5) Distribution Shortfall Balance ================================================================================================ A 0.00000000 0.00000000 0.000000000 3,713,471.14 0.00000000 586,227,707.86 INV_CERT 0.00000000 0.00000000 0.000000000 14,106,379.75 0.00000000 729,688,212.83 ================================================================================================
(5) All Denominations Are Per $1,000. (6) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A Full Description. 6 [American Residential Eagle Bond Trust Letterhead] Certificateholder Component Statement
========================================================================================= Component Beginning Notional Ending Notional Class Pass-Through Rate Balance Balance ========================================================================================= FSA 1,200.00000% 27,156.27 25,730.13 =========================================================================================
========================================================================================= Beginning Component Ending Component Ending Component Class Balance Balance Percentage ========================================================================================= FSA 0.00 0.00 58.62189796% =========================================================================================
7 [American Residential Eagle Bond Trust Letterhead] Certificateholder Account Statement ====================================================================== CERTIFICATE ACCOUNT
Beginning Balance 0.00 Deposits Payments of Interest and Principal 8,624,800.82 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (114,211.04) ------------ Total Deposits 8,510,589.78 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 118,672.21 Payment of Interest and Principal 8,391,917.57 ------------ Total Withdrawals (Pool Distribution Amount) 8,510,589.78 Ending Balance 0.00 ============
====================================================================== =============================================================================== OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ --------- ----------- -------- ------- Financial Guaranty 0.00 0.00 0.14 0.00
=============================================================================== ================================================================= PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 ---- Non-Supported Prepayment/Curtailment Interest Shortfall 0.00 ====
================================================================= =================================================================== SERVICING FEES
Gross Servicing Fee 61,222.16 Management Fee 1,000.00 FSA Insurance Premium 612.25 Trustee Fee - Norwest Bank Minnesota N.A 27,156.27 Mortgage Insurance Premium 28,681.53 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 118,672.21
=================================================================== 8 [American Residential Eagle Bond Trust Letterhead] Certificateholder Delinquency/Credit Enhancement Statement
-------------------------------------- -------------------------------------- ------------------------------------ DELINQUENT BANKRUPTCY FORECLOSURE -------------------------------------- -------------------------------------- ------------------------------------ NO. OF PRINCIPAL NO. OF PRINCIPAL NO. OF PRINCIPAL LOANS BALANCE LOANS BALANCE LOANS BALANCE 30 Days 44 3,413,294.07 30 Days 0 0.00 30 Days 0 0.09 60 Days 12 872,001.31 60 Days 0 0.00 60 Days 0 0.00 90 Days 8 654,873.75 90 Days 50 5,428,660.28 90 Days 65 7,110,328.12 120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180 Days 0 0.00 180 Days 0 0.00 180 Days 0 0.00 ---------- ------------- ----------- ------------ ---------- ------------- 64 4,940,169.13 50 5,428,660.28 65 7,110,328.12
NO. OF PRINCIPAL NO. OF PRINCIPAL NO. OF PRINCIPAL LOANS BALANCE LOANS BALANCE LOANS BALANCE 30 Days 3.408211% 2.445709% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.929512% 0.624810% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.619675% 0.469233% 90 Days 3.872967% 3.889768% 90 Days 5.034857% 5.094724% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 180 Days 0.000000% 0.000000% ---------- ------------- ----------- ------------ ---------- ------------- 4.957397% 3.539752% 3.872967% 3.889768% 5.034857% 5.094724% ------------------------------------- ------------------------------------- ------------------------------------
9 [American Residential Eagle Bond Trust Letterhead] Certificateholder Delinquency/Credit Enhancement Statement CONTINUED
- -------------------------------------- -------------------------------------- REO TOTAL - -------------------------------------- -------------------------------------- NO. OF PRINCIPAL NO. OF PRINCIPAL LOANS BALANCE LOANS BALANCE 30 Days 0 0.00 30 Days 44 3,413,294.07 60 Days 0 0.00 60 Days 12 872,001.31 90 Days 25 2,414,708.72 90 Days 148 15,608,570.87 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180 Days 0 0.00 180 Days 0 0;00 ---------- ------------- ------------ ------------- 25 2,414,708.72 204 19,893,866.25
NO. OF PRINCIPAL NO. OF PRINCIPAL LOANS BALANCE LOANS BALANCE 30 Days 0.000000% 0.000000% 30 Days 3.408211% 2.445709% 60 Days 0.000000% 0.000000% 60 Days 0.929512% 0.624810% 90 Days 1.936483% 1.730198% 90 Days 11.463981% 11.183923% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 180 Days 0.000000% 0.000000% ---------- ------------- ------------ ------------- 1.936483% 1.730198% 15.801704% 14.254442% - -------------------------------------- --------------------------------------
(7) The 90-day category of REO, foreclosure and bankruptcies contain all loans in their respective category.
Current Period Realized Loss - Includes Interest Shortfall 0.00 Principal Balance of Contaminated Properties 0.00 Cumulative Realized Losses - Includes Interest Shortfall 2,468,425.35 Periodic Advance 0.00 Current Period Class A Insufficient Funds 0.00
- -------------------------------------------------------------------------------------------------------------------------- SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Original $ Original % Current $ Current % Current Class % Next Prepayment % ---------- ----------- ------------ ----------- --------------- ----------------- Class A 7,285,896.30 3.08350876% 5,316,432.65 3.80935401% 96.190646% 0.000000% Please Refer to Prospectus Supplement for a Full Description of Loss Exposure. - --------------------------------------------------------------------------------------------------------------------------
10 [American Residential Eagle Bond Trust Letterhead] COLLATERAL STATEMENT
Collateral Description Fixed Mixed & ARM Balloon Weighted Average Gross Coupon 10.008735% Weighted Average Net Coupon 9.745177% Weighted Average Pass-Through Rate 9.740177% Weighted Average Maturity (Stepdown Calculation) 312 Beginning Scheduled Collateral Loan Count 1,333 Number of Loans Paid in Full 42 Ending Scheduled Collateral Loan Count 1,291 Beginning Scheduled Collateral Balance 146,933,184.42 Ending Scheduled Collateral Balance 139,562,577.75 Ending Actual Collateral Balance at 31-July-2000 139,562,577.75 Monthly P&I Constant 1,325,828.92 Class A Optimal Amount 8,318,296.23 Ending Scheduled Balance for Premium Loans 139,562,577.75 Scheduled Principal 100,316.18 Unscheduled Principal 7,338,438.88 Required Overcollateralized Amount 5,316,432.67 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 182,249.45 Specified O/C Amount 5,316,432.67 Overcollateralized Amount 5,316,432.67 Overcollateralized Deficiency Amount 182,359.45 Base Overcollateralization Amount 5,316,432.67 Extra Principal Distribution Amount 182,359.45 Excess Cash Amount 285,137.17