8-K 1 a33458.txt CIT EQUIPMENT COLLATERAL 2001-1 SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 -------------- F O R M 8-K CURRENT REPORT Pursuant to Regulation FD Rules 100 and 101 Date of Report (Date of earliest event reported): June 30, 2002 CIT Equipment Collateral 2001-1 ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware ---------------------------------------------- (State or other jurisdiction of incorporation) 000-32483 ------------------------ --------------------------------- (Commission File Number) (IRS Employer Identification No.) c/o Allfirst Financial Center National Association 499 Mitchell Road Mail Code 101-591 Millsboro, Delaware 19966 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (410) 244-4626 N/A (Former name or former address, if changed since last report.) Item 9. Regulation FD Disclosure. CIT Equipment Collateral 2001-1 is reporting its portfolio stratification report as of June 30, 2002. The percentages and balances set forth in the tables in the report may not total due to rounding. Exhibit 99 - Portfolio Stratification Report 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. CIT EQUIPMENT COLLATERAL 2001-1 By: CIT FINANCIAL USA, INC. as Servicer By: /s/ Glenn A. Votek ------------------------------ Name: Glenn A. Votek Title: Executive Vice President & Treasurer Dated: September 27, 2002

----------------------------------------------------------------------------------------------------------------------- Distribution Class A-1 Class A-2 Class A-3 Class A-4 Amounts Notes Notes Notes Notes ----------------------------------------------------------------------------------------------------------------------- 1. Interest Due 0.00 500,899.31 1,015,491.67 205,200.68 2 Interest Paid 0.00 500,899.31 1,015,491.67 205,200.68 3 Interest Shortfall 0.00 0.00 0.00 0.00 ((1) minus (2)) 4 Principal Paid 0.00 22,806,688.93 0.00 0.00 5 Total Distribution Amount 0.00 22,806,688.93 205,200.68 380,548.10 ((2) plus (4)) ----------------------------------------------------------------------------------------------------------------------- Distribution Class B Class C Class D Total Offered Amounts Notes Notes Notes Notes ----------------------------------------------------------------------------------------------------------------------- 1. Interest Due 34,039.43 47,266.31 65,279.64 1,868,177.04 2 Interest Paid 34,039.43 47,266.31 65,279.64 1,868,177.04 3 Interest Shortfall 0.00 0.00 0.00 0.00 ((1) minus (2)) 4 Principal Paid 363,936.53 485,248.70 606,560.88 24,262,435.03 5 Total Distribution Amount 397,975.96 532,515.01 671,840.52 24,994,769.19 ((2) plus (4))

A Summary of Balance Information -------------------------------------------------------------------------------------------------------------------------- Applicable Principal Balance Class Factor Principal Balance Class Factor Class Coupon Mar-02 Mar-02 Feb-02 Feb-02 Rate Payment Date Payment Date Payment Date Payment Date -------------------------------------------------------------------------------------------------------------------------- a. Class A-1 Notes 5.0325% 0.00 0.00000 0.00 0.00000 b. Class A-2 Notes 5.0200% 96,930,197.49 0.38161 119,736,886.41 0.47141 c. Class A-3 Notes 5.2300% 233,000,000.00 1.00000 233,000,000.00 1.00000 d. Class A-4 Notes 2.0400% 129,328,157.00 1.00000 129,328,157.00 1.00000 e. Class B Notes 5.3100% 7,328,590.76 0.57672 7,692,527.29 0.60536 f. Class C Notes 5.5300 9,771,454.35 0.57672 10,256,703.05 0.60536 g. Class D Notes 6.1100% 12,214,317.94 0.57672 12,820,878.81 0.60536 h. Total Offered Notes 488,572,717.54 512,835,152.57 i. One - Month Libor Rate 1.8500%

B Other Information ----------------------------------------------------------------------------------------------- Scheduled Scheduled Principal Balance Principal Balance Class Mar-02 Feb-02 Payment Date Payment Date ------------------------------------------------------------------------------------------------ Class A-1 Notes 0.00 0.00

-------------------------------------------------------------------------------------------------------------------------- Target Class Target Class Class Principal Amount Floor Principal Amount Floor Class Percentage Mar-02 Mar-02 Feb-02 Feb-02 Payment Date Payment Date Payment Date Payment Date -------------------------------------------------------------------------------------------------------------------------- Class A 94.00% 459,258,354.49 482,065,043.41 Class B 1.50% 7,328,590.76 0.00 7,692,527.29 0.00 Class C 2.00% 9,771,454.35 0.00 10,256,703.05 0.00 Class D 2.50% 12,214,317.94 0.00 12,820,878.81 0.00

----------------------------------------------------------------- Original Mar-02 Feb-02 Pool Payment Date Payment Date ----------------------------------------------------------------- 1. a. Contract Pool Balance 847,157,614.00 488,572,717.54 512,835,152.57 b. No of Contracts 47,846 42,752 43,093 2. Weighted Average Remaining Term 40.60 30.8 31.5 3. Weighted Average Original Term 44.1

---------------------------------------------------------------------- % of Aggregate % of Required Payoff No. Of Aggregate Required Contracts Amount Accounts Payoff Amounts ---------------------------------------------------------------------- 1. Current 92.83% 93.60% 39,687 464,518,831.50 31-60 days 3.95% 3.46% 1,687 17,168,251.73 61-90 days 1.40% 0.97% 599 4,790,671.37 91-120 days 0.79% 1.13% 336 5,599,089.97 120+ days 1.04% 0.85% 443 4,229,795.48 Total Delinquency 100.0% 100.0% 42,752 496,306,640.05 2. Delinquent Scheduled Payments: Beginning of Collection Period 7,265,614.55 End of Collection Period 7,733,922.51 ------------ Change in Delinquent Scheduled Payments 468,307.96 C. DEFAULTED CONTRACT INFORMATION 1. Required Payoff Amount on Defaulted Contracts 2,757,265.16 2. Liquidation Proceeds received 1,471,425.52 ------------ 3. Current Liquidation Loss Amount 1,285,839.64 4. Cumulative Liquidation Losses to date 14,070,290.27 % of Initial Contracts 4.995% % of Initial Contract Pool Balance 1.661%

----------------------------------------------------------------- Mar-02 Feb-02 Item Payment Date Payment Date ----------------------------------------------------------------- a. Senior Loan 4,317,352.30 5,013,777.05 b. Holdback Amount 42,357,880.69 42,357,880.69

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