8-K 1 jul_03-8k.txt FINANCIAL CORP JULY 2003 8-K 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): July 9, 2003 (July 1, 2003) ----------------------------------------- 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) 816-2300 ---------------------------------------------------------------- (Registrant's telephone number, including area code) ---------------------------------------------------------------- (Former name or former address, if changed since last report) Exhibit Index is on Page 4 2 Item 5. Other Events ------------ Attached hereto is the Report to Mortgage Certificateholders for the payment date July 1, 2003, 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 July 1, 2003. 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 on its behalf by the undersigned hereunto duly authorized. CRIIMI MAE Financial Corporation July 9, 2003 /s/Brian L. Hanson ------------- ----------------------------- Brian L. Hanson Its: Senior Vice President Mortgage Servicing 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 July 1, 2003 5 Exhibit 20.1 ------------ U.S. Bank Payment Date: July 1, 2003 U.S. Bank Corporate Trust Services Record Date: June 20, 2003 Trustee's Report to Certificateholders Contents Principal and Interest Details 6 Delinquency 7 Balance Information 6 Other Information 8 Supplemental Loan Level remittance and delinquency information 9 Report Sections Preparer --------------- -------- Distribution Date Statement Trustee U.S. Bank Information Delivery Vehicles ------------------------------------------ Web Site: http://corporatetrust.statestreet.com For other information delivery requests: ct.information.delivery@usbank.com Deal-Specific Contacts ---------------------- Account Officer (trustee and paying agent questions): Daniel Scully (617) 603-6407 Account Administrator (analytics and collateral questions): Jason Soulia (617) 603-6437 Servicer CRIIMI MAE Michael Lindsay (301) 255-0683 Rating Agency Contacts ---------------------- Fitch IBCA, Inc. Moody's Investors Service One State Street Plaza 99 Church Street New York, New York 10004 New York, New York 10007 (212) 908-0500 (212) 553-0300 Standard & Poor's Rating Services 55 Water Street New York, New York 10041 (212) 438-2430 Disclaimer Notice ----------------- This report has been prepared by, or is based on information furnished to U.S. Bank Corporate Trust Services ("US Bank") by, one or more third parties (e.g. Servicers, Master Servicer, etc.) and U.S. Bank has not independently verified information received from or prepared by any such third party. U.S. Bank shall not and does not undertake responsibility for the accuracy, completeness, or sufficiency of this report or the information contained herein for any purpose, and U.S. Bank makes no representations or warranties with respect thereto. The information in this report is presented here with the approval of the Issuer solely as a convenience for the user, and should not be relied upon without further investigation by any user contemplating an investment decision with respect to the related securities. 6 CRIIMI MAE Financial Corporation 7.00% Collateralized July Mortgage Obligations Payment Date: July 1, 2003

Principal Distribution Detail Scheduled Principal FHA Insurance Realized Net Principal Principal Prepayments Proceeds Losses Distribution ------------ ------------ ------------- -------- ------------- FHA Mortgages $ 26,~~776~~971.6078 $ 0.00 $ 0.00 $ 0.00 $ 26,~~776~~971.6078 GNMA $ 45,~~128~~437.4660 $ 0.00 N/A $ 0.00 $ 45,~~128~~437.4660 Total $ 7172,~~905~~409.0638 $ 0.00 $ 0.00 $ 0.00 $ 7172,~~905~~409.0638 Interest Distribution Detail Net Int. Dist. Interest Interest Strip Incl. Prepay Amount Amount Penalty ------------- ------------- -------------- FHA Mortgages $ 218,~~362~~171.1346 $ 22,~~169~~153.88 $ 196,~~192~~017.2558 GNMA $ ~~253~~252,~~239~~942.4318 N/A $ ~~253~~278,~~239~~706.4302 Total $ 471,~~601~~113.5664 $ 22,~~169~~153.88 $ ~~449~~474,~~431~~723.6860 Interest Payable on Bonds Beginning Interest Interest Additional Balance Rate (Fixed) Payable Interest Payable --------------- ------------ ----------- ---------------- $ 60,~~638~~567,~~961~~056.8479 7.00% $353,~~727~~307.2883 $ 0.00 Principal Balance of Collateral Actual Beginning Actual Principal Actual Ending Balance Payable Balance ---------------- ---------------- --------------- FHA Mortgages $ 29,~~613~~586,~~614~~837.0847 $ 26,~~776~~971.6078 $ 29,~~586~~559,~~837~~865.4869 GNMA $ 37,~~896~~851,~~983~~855.6923 $ 45,~~128~~437.4660 $ 37,~~851~~806,~~855~~417.2363 Total $ 67,~~510~~438,~~597~~692.7770 $ 7172,~~905~~409.0638 $ 67,~~438~~366,~~692~~283.7132 Principal Balance of Bonds Beginning Principal Ending Balance Payable Balance --------------- -------------- --------------- $ 60,~~638~~567,~~961~~056.8479 $ 7172,~~905~~409.0638 $ 60,~~567~~494,~~056~~647.7841

7 CRIIMI MAE Financial Corporation 7.00% Collateralized Mortgage Obligations Payment Date: July 1, 2003

8 CRIIMI MAE Financial Corporation 7.00% Collateralized Mortgage Obligations Payment Date: July 1, 2003 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 ------------- --------- FHA Mortgages $ 1,232.78 $ 221.90 GNMA $ 1,577.16 $ 283.89 Total $ 2,809.94 $ 505.79 9 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: July 1, 2003

Scheduled Actual Maturity Note Net Pass-thru I/O Beginning Beginning Loan No. Property Name Date Rate Rate Rate Rate Balance Balance -------- ------------- -------- ------ ------ --------- -------- -------------- -------------- 086-15001 Austin Hewitt House - II 01/01/31 9.500% 9.250% 9.191% 0.875% ~~227~~226,~~091~~951.6639 ~~227~~226,~~091~~951.6639 086-43027 Austin Hewitt House Expansion 01/01/31 10.750% 10.500% 10.441% 1.500% 1,043,~~722~~216.7099 1,043,~~722~~216.7099 117-43049 Bell Avenue Nursing Home 09/01/31 11.000% 10.580% 10.521% 2.455% 1,~~814~~813,~~616~~841.4014 1,~~814~~813,~~616~~841.4014 072-43092 Centralia Fireside 10/01/32 9.125% 8.625% 8.566% 0.125% 35,837.38 35,837.38 072-43093 Centralia Friendship 11/01/32 9.000% 8.500% 8.441% 0.000% 30,893.32 30,893.32 052-43041 Devlin Manor 10/01/32 10.000% 9.950% 9.891% 1.200% 5,~~494~~492,~~691~~130.9920 5,~~494~~492,~~691~~130.9920 016-43064 Eastgate Nursing 07/01/33 9.625% 9.250% 9.191% 1.250% 1,740,~~854~~041.3628 1,740,~~854~~041.3628 083-10013 Guardian Court Apts 06/01/34 8.750% 8.625% 8.566% 2.000% 2,~~144~~142,~~056~~950.1332 2,~~144~~142,~~056~~950.1332 073-14001 Harborside Apartments 02/01/19 10.250% 10.150% 10.091% 2.025% 2,~~009~~005,~~645~~389.5628 2,~~009~~005,~~645~~389.5628 117-43048 Southern Oaks Nursing Home 01/01/31 11.000% 10.375% 10.316% 1.375% 2,~~368~~367,~~978~~886.9439 2,~~368~~367,~~978~~886.9439 000-43043 Stoddard Baptist Nursing Home 03/01/27 8.000% 7.900% 7.841% 0.000% 8,~~734~~724,~~599~~442.7823 8,~~734~~724,~~599~~442.7823 121-35818 Woodcreek Apartments 10/01/26 7.250% 7.125% 7.066% 0.000% 3,~~968~~963,~~625~~257.5626 3,~~968~~963,~~625~~257.5626 -------------- -------------- FHA Subtotal 11/23/28 9.11% 8.93% 8.87% 0.90% 29,~~613~~586,~~613~~837.7818 29,~~613~~586,~~613~~837.7818

10 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: July 1, 2003

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 -------- ------------- --------- ------------ ------------ ------------ ----------- ----------- 086-15001 Austin Hewitt House - II 1,938.08 1,890.7780 ~~140~~141.2738 ~~140~~141.2738 1,~~750~~749.5042 1,~~750~~749.5042 086-43027 Austin Hewitt House Expansion 9,855.73 9,638.2839 ~~505~~510.7124 ~~505~~510.7124 9,~~132~~128.5715 9,~~132~~128.5715 117-43049 Bell Avenue Nursing Home 17,409.23 16,774.1339 ~~775~~782.2636 ~~775~~782.2636 15,~~998~~992.8703 15,~~998~~992.8703 072-43092 Centralia Fireside 22,822.81 0.00 0.00 0.00 257.58 0.00 072-43093 Centralia Friendship 21,974.50 0.00 0.00 0.00 218.83 0.00 052-43041 Devlin Manor 48,350.87 48,~~121~~122.9405 2,~~561~~583.7914 2,~~561~~583.7914 45,~~560~~538.1591 45,~~560~~538.1591 016-43064 Eastgate Nursing 14,776.18 14,232.1742 ~~813~~819.0860 ~~813~~819.0860 13,~~419~~412.0982 13,~~419~~412.0982 083-10013 Guardian Court Apts 16,739.55 16,516.2133 1,~~105~~113.8187 1,~~105~~113.8187 15,~~410~~402.4046 15,~~410~~402.4046 073-14001 Harborside Apartments 21,421.99 21,254.5388 4,~~256~~292.2863 4,~~256~~292.2863 16,~~998~~962.25 16,~~998~~962.25 117-43048 Southern Oaks Nursing Home 22,808.19 21,574.3591 1,~~092~~102.5556 1,~~092~~102.5556 20,~~481~~472.8035 20,~~481~~472.8035 000-43043 Stoddard Baptist Nursing Home 68,388.21 67,~~660~~661.3318 10,~~157~~225.5527 10,~~157~~225.5527 57,~~502~~435.7891 57,~~502~~435.7891 121-35818 Woodcreek Apartments 29,345.41 28,932.0157 5,~~368~~400.3073 5,~~368~~400.3073 23,~~563~~531.7184 23,~~563~~531.7184 ----------- ------------ ------------ ------------ ----------- ----------- FHA Subtotal 295,830.75 246,~~594~~597.7292 26,~~776~~971.6078 26,~~776~~971.6078 220,~~294~~102.5355 219,~~818~~626.1214

11 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: July 1, 2003

Paid in Interest WL/NIS Scheduled Actual Delinq. Full Prepayment Loan No. Property Name Strip Interest Ending Bal. Ending Bal. Status Amount Penalty -------- ------------- ------------- ------------- ------------ ----------- -------- -------- ----------- 086-15001 Austin Hewitt House - II 165.5949 1,~~584~~583.9193 226,~~951~~810.3901 226,~~951~~810.3901 086-43027 Austin Hewitt House Expansion 1,304.6502 7,~~827~~824.9213 1,~~043~~042,~~216~~706.9975 1,~~043~~042,~~216~~706.9975 117-43049 Bell Avenue Nursing Home 3,~~712~~710.4082 12,~~286~~281.4722 1,813,~~841~~058.1478 1,813,~~841~~058.1478 072-43092 Centralia Fireside 0.00 0.00 35,837.38 35,837.38 Assigned to HUD 072-43093 Centralia Friendship 0.00 0.00 30,893.32 30,893.32 Assigned to HUD 052-43041 Devlin Manor 5,~~494~~492.6913 40,~~065~~046.4678 5,~~492~~489,~~130~~547.2006 5,~~492~~489,~~130~~547.2006 016-43064 Eastgate Nursing 1,~~813~~812.3954 11,~~605~~600.7028 1,~~740~~739,~~041~~221.2868 1,~~740~~739,~~041~~221.2868 083-10013 Guardian Court Apts 3,~~573~~571.4358 11,~~836~~830.9887 2,~~142~~141,~~950~~836.3245 2,~~142~~141,~~950~~836.3245 073-14001 Harborside Apartments 3,~~391~~384.2809 13,~~606~~578.9816 2,~~005~~001,~~389~~096.2865 2,~~005~~001,~~389~~096.2865 117-43048 Southern Oaks Nursing Home 2,~~714~~713.4620 17,~~767~~759.3415 2,~~367~~366,~~886~~783.3983 2,~~367~~366,~~886~~783.3983 000-43043 Stoddard Baptist Nursing Home 0.00 57,~~502~~435.7891 8,~~724~~714,~~442~~216.2396 8,~~724~~714,~~442~~216.2396 121-35818 Woodcreek Apartments 0.00 23,~~563~~531.7184 3,~~963~~957,~~257~~856.2653 3,~~963~~957,~~257~~856.2653 ------------- ------------ ------------- ------------- FHA Subtotal 22,~~169~~153.8988 197,~~648~~472.2526 29,~~586~~559,~~837~~865.1840 29,~~586~~559,~~837~~865.1840

12 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: July 1, 2003

Scheduled Actual Maturity Note GNMA Pass-thru Beginning Beginning Loan No. Property Name Date Rate Rate Rate Balance Balance -------- ------------- -------- ------ ------ --------- -------------- ------------- 364007 Baptist Retirement System 06/15/18 8.250% 8.000% 7.941% 2,~~755~~747,~~014~~235.8992 2,~~755~~747,~~014~~235.8992 364008 Bellhaven Nursing Center 12/15/31 8.625% 8.375% 8.316% 13,~~722~~713,~~239~~062.4268 13,~~722~~713,~~239~~062.4268 385399 Capital Crossing Apts 05/15/21 7.980% 7.730% 7.671% 9,~~490~~470,~~232~~592.4991 9,~~490~~470,~~232~~592.4991 383725 Elwood Gardens 06/15/29 8.150% 7.875% 7.816% 2,~~463~~461,~~958~~690.9317 2,~~463~~461,~~958~~690.9317 382271 Fox Hills Apartments 05/15/24 8.700% 8.250% 8.191% ~~909~~907,~~215~~952.82 ~~909~~907,~~215~~952.82 391963 Marshall House 318504 Plaza Apartments 11/15/30 8.000% 7.750% 7.691% 1,~~229~~228,~~099~~077.2543 1,~~229~~228,~~099~~077.2543 400387 Regal Ridge Apartments 04/15/35 8.250% 8.000% 7.941% 4,~~319~~317,~~742~~437.2275 4,~~319~~317,~~742~~437.2275 365647 The Rebecca Apartments 03/15/34 8.500% 8.250% 8.191% 3,~~007~~005,~~478~~803.8169 3,~~007~~005,~~478~~803.8169 --------------- --------------- GNMA Subtotal 10/01/29 8.33% 8.08% 8.02% 37,~~896~~851,~~981~~853.8337 37,~~896~~851,~~981~~853.8337 Total 05/01/29 8.67% 8.45% 8.39% 67,~~510~~438,~~595~~690.6155 67,~~510~~438,~~595~~690.6155

13 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: July 1, 2003

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 -------- ------------- --------- ------------ ---------- ---------- ---------- ----------- 364007 Baptist Retirement System 26,719.70 26,~~145~~147.7436 7,~~778~~832.9745 7,~~778~~832.9745 18,~~366~~314.7791 18,~~366~~314.7791 364008 Bellhaven Nursing Center 107,805.31 104,~~946~~948.5445 9,~~176~~242.7470 9,~~176~~242.7470 95,~~769~~705.8075 95,~~769~~705.8075 385399 Capital Crossing Apts 82,749.62 80,~~772~~776.4959 19,~~639~~770.5819 19,~~639~~770.5819 61,~~132~~006.9140 61,~~132~~006.9140 383725 Elwood Gardens 19,003.15 18,~~438~~439.4901 2,~~268~~284.7617 2,~~268~~284.7617 16,~~169~~154.7384 16,~~169~~154.7384 382271 Fox Hills Apartments 7,854.81 7,~~513~~514.8633 1,~~263~~272.0015 1,~~263~~272.0015 6,~~250~~242.8618 6,~~250~~242.8618 391963 Marshall House 318504 Plaza Apartments 9,215.81 8,959.7596 1,~~021~~028.8263 1,~~021~~028.8263 7,~~937~~931.9333 7,~~937~~931.9333 400387 Regal Ridge Apartments 32,002.70 31,~~102~~103.7524 2,~~304~~320.4732 2,~~304~~320.4732 28,~~798~~782.2892 28,~~798~~782.2892 365647 The Rebecca Apartments 22,978.10 22,351.5489 1,~~675~~686.1299 1,~~675~~686.1299 20,~~676~~664.4290 20,~~676~~664.4290 ----------- ------------- ----------- ------------- ----------- ----------- GNMA Subtotal 308,329.20 300,~~231~~240.1683 45,~~128~~437.4660 45,~~128~~437.4660 ~~255~~254,~~102~~803.7023 ~~255~~254,~~102~~803.7023 Total 604,159.95 546,~~825~~838.8875 7172,~~905~~409.0638 7172,~~905~~409.0638 ~~475~~474,~~397~~905.2378 474,~~920~~429.8237

14 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: July 1, 2003

Paid in Interest WL/NIS Scheduled Actual Delinq Full Prepayment Loan No. Property Name Strip Interest Ending Balance Ending Balance Status Amount Penalty -------- ------------- ------------- ----------- -------------- -------------- ------ ----- ---------- 364007 Baptist Retirement System 2,~~747~~739,~~235~~403.9247 2,~~747~~739,~~235~~403.9247 364008 Bellhaven Nursing Center 13,~~713~~703,~~062~~819.6898 13,~~713~~703,~~062~~819.6898 385399 Capital Crossing Apts 9,~~470~~450,~~592~~822.9172 9,~~470~~450,~~592~~822.9172 383725 Elwood Gardens 2,~~461~~459,~~690~~406.1700 2,~~461~~459,~~690~~406.1700 382271 Fox Hills Apartments ~~907~~906,~~952~~680.8267 ~~907~~906,~~952~~680.8267 391963 Marshall House 25,763.84 318504 Plaza Apartments 1,~~228~~227,~~077~~048.4380 1,~~228~~227,~~077~~048.4380 400387 Regal Ridge Apartments 4,~~317~~315,~~437~~117.7543 4,~~317~~315,~~437~~117.7543 365647 The Rebecca Apartments 3,~~005~~004,~~803~~116.6970 3,~~005~~004,~~803~~116.6970 ------------ ------------ -------------- -------------- ---------- GNMA Subtotal 37,~~851~~806,~~853~~415.3777 37,~~851~~806,~~853~~415.3777 25,763.84 Total 22,~~169~~153.8988 197,~~648~~472.2526 67,~~438~~366,~~690~~281.5517 67,~~438~~366,~~690~~281.5517 25,763.84

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