Monthly Servicer Certificate for First Sierra Equipment Contract Trust Series 1997-1 and First Sierra Receivables IV, Inc. (March 2001)
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Summary
This document is a monthly servicer certificate for the First Sierra Equipment Contract Trust Series 1997-1, managed by First Sierra Receivables IV, Inc. It summarizes the collection and disbursement of funds for the period ending March 1, 2001. The certificate details payments made to note holders, servicer fees, trustee fees, and other related expenses, as well as the allocation of principal and interest among various note classes. The report is reviewed and signed by an executive officer, confirming the accuracy of the payment and fund distribution process for the trust.
EX-1.1 2 0002.txt SERVICING REPORTS First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Payment Summary Collection Period Ended March 1, 2001
Reviewed By: ________________________________________________________________________ Sandy B. Ho Executive Vice President & CFO Page 1 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Priority of Payments Collection Period Ended March 1, 2001
Page 1 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Priority of Payments Collection Period Ended March 1, 2001
Page 2 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Priority of Payments Collection Period Ended March 1, 2001
Page 3 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Priority of Payments Collection Period Ended March 1, 2001
Page 4 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Priority of Payments Collection Period Ended March 1, 2001
Page 5 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Note Balance Rollforward Collection Period Ended March 1, 2001
Page 1 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Fee Calculation Collection Period Ended March 1, 2001
Calculation of Interest Due Beginning Current Total Principal Interest Interest Overdue Interest Class Balance Rate Due Interest Due - ----------- -------------- --------- ---------- ---------- ----------- Class A-1 -- 5.7325% -- -- -- Class A-2 -- 6.3500% -- -- -- Class A-3 5,441,804.75 6.3500% 28,796.22 -- 28,796.22 Class A-4 38,238,000.00 6.3500% 202,342.75 -- 202,342.75 Class B-1 949,560.98 6.8850% 5,448.11 -- 5,448.11 Class B-2 949,560.98 6.4500% 5,103.89 -- 5,103.89 Class B-3 949,560.98 7.0000% 5,539.11 -- 5,539.11 -------------- ----------- ---------- ------------ 46,528,487.68 6.3762% 247,230.07 -- 247,230.07 Calculation of Principal Due Base Base Total Principal Principal Overdue Principal Class Amount Pct. Amount Principal Due - ---------- ------------- -------------- ---------- -------------- Class A 92.0% 2,491,582.75 - 2,491,582.75 Class B-1 2.0% 54,164.84 - 54,164.84 Class B-2 2.0% 54,164.84 - 54,164.84 Class B-3 2.0% 54,164.84 - 54,164.84 ------------- ---------- ------------- 2,654,077.28 - 2,654,077.28 Calculation of Servicer Fee ADCPB as of the prior Calculation Date 49,755,619.61 Servicer Fee Rate 0.500% One-twelfth 1/12 -------------- Servicer Fee due current period 20,731.51 Prior Servicer Fee arrearage - -------------- Servicer Fee due 20,731.51 Calculation of Back-up Servicer Fee ADCPB as of the prior Calculation Date 49,755,619.61 Back-up Servicer Fee Rate 0.020% One-twelfth 1/12 -------------- Back-up Servicer Fee due Current Period 829.26 less overpayment from prior period - Prior Back-up Servicer Fee Arrearage - -------------- Back-up Servicer Fee due 829.26 Page 1 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Fee Calculation Collection Period Ended March 1, 2001
Page 2 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Fee Calculation Collection Period Ended March 1, 2001
Page 3 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Tests Collection Period Ended March 1, 2001
Page 1 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Trigger Account Calculations Collection Period Ended March 1, 2001 Gross Charge Event Calculation: Result ------ Gross Charge Off Ratio Current Period 0.52% Gross Charge Off Ratio Prior Period -0.37% Gross Charge Off Ratio Second Prior Period -0.71% ------ Average of Gross Charge Off Ratio for Three Periods -0.19% Maximum Allowed 2.50%
Delinquency Event Calculation: Results ------- Delinquency Trigger Ratio Current Period 4.19% Delinquency Trigger Ratio Prior Period 3.88% Delinquency Trigger Ratio Second Prior Period 3.34% ----- Average of Delinquency Trigger Ratios 3.80% Maximum Allowed 7.50%
ADCPB Delinquency Ratio ----- ----------------- Current 45,827,395 95.81% 31-60 Days Past Due 869,315 1.82% 61-90 Days Past Due 604,967 1.26% 91+ Days Past Due 530,618 1.11% ---------- ------ TOTAL 47,832,296 100.00% Substitution Limits ADCPB as of Cut-Off Date 226,351,292.85 Maximum Substitution (10% of Initial) 22,635,129.29 Prior month Cumulative ADCPB Substituted 3,197,626.96 Current month ADCPB Substituted - -------------- Cumulative ADCPB Substituted 3,197,626.96 * more than Page 1