8-K 1 centex2004d_dec04.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) : December 27, 2004 CHEC FUNDING LLC, (as depositor under the Pooling and Servicing Agreement, dated September 1, 2004 providing for the issuance of Centex Home Equity Loan Asset-Backed Certificates, Series 2004-D) CHEC FUNDING, LLC on behalf of itself and the Trust described below with respect to which it is the depositor (Exact name of registrant as specified in its charter) Delaware 333-105322-05 75-2851805 (State or other (Commission File Number) (IRS Employer jurisdiction of Identification No.) incorporation) 2728 North Harwood Dallas, Texas 75201 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code : (214) 981-5000 N/A (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) [] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 8.01 Other Events. This current report on Form 8-K relates to the monthly distribution reported to the holders of Centex Home Equity Loan Trust 2004-D pursuant to the terms of the Pooling and Servicing Agreement, dated as of September 1, 2004, among CHEC Funding, LLC, as Depositor, Centex Home Equity Company, LLC, as Seller, Harwood Street Funding II LLC, as Conduit Seller, Centex Home Equity Company, LLC, as Servicer, and JPMorgan Chase Bank, as Trustee. On December 27, 2004 distributions were made to the Certificateholders. Specific information with respect to these distributions is filed as Exhibit 99.1. Item 9.01 Financial Statements and Exhibits. (a) Not applicable (b) Not applicable (c) The following exhibit is filed as part of this report: Statement to Certificateholders on December 27, 2004 as Exhibit 99.1. CHEC FUNDING,LLC Centex Home Equity Loan Asset-Backed Certificates, Series 2004-D ------------------------------------------------------------------------------- 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. JPMORGAN CHASE BANK,N.A., not in its individual capacity, but solely as Trustee under the Agreement referred to herein Date: December 29, 2004 By: /s/ Mark W. McDermott -------------------------------------------- Name: Mark W. McDermott Title: Vice President INDEX TO EXHIBITS Exhibit Number Description of Exhibits 99.1 Statement to Certificateholders December 27, 2004 Exhibit 99.1 Statement to Certificateholders December 27, 2004 Centex Home Equity Loan Trust 2004-D STATEMENT TO CERTIFICATEHOLDERS December 27, 2004 ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- AF_1 126,900,000.00 121,408,678.45 5,402,494.94 301,498.22 5,703,993.16 0.00 0.00 116,006,183.51 AF_2 33,300,000.00 33,300,000.00 0.00 92,962.50 92,962.50 0.00 0.00 33,300,000.00 AF_3 64,900,000.00 64,900,000.00 0.00 208,761.67 208,761.67 0.00 0.00 64,900,000.00 AF_4 26,000,000.00 26,000,000.00 0.00 101,400.00 101,400.00 0.00 0.00 26,000,000.00 AF_5 29,360,000.00 29,360,000.00 0.00 130,896.67 130,896.67 0.00 0.00 29,360,000.00 AF_6 27,700,000.00 27,700,000.00 0.00 107,799.17 107,799.17 0.00 0.00 27,700,000.00 AV_1 99,000,000.00 96,648,672.16 2,619,340.37 208,947.80 2,828,288.17 0.00 0.00 94,029,331.79 AV_2 173,000,000.00 166,887,226.75 4,016,186.82 362,235.82 4,378,422.64 0.00 0.00 162,871,039.93 AV_3 115,000,000.00 108,869,559.77 4,027,794.30 218,493.74 4,246,288.04 0.00 0.00 104,841,765.47 AV_4 28,400,000.00 28,400,000.00 0.00 60,665.18 60,665.18 0.00 0.00 28,400,000.00 AV_5 30,100,000.00 30,100,000.00 0.00 68,962.05 68,962.05 0.00 0.00 30,100,000.00 MF_1 19,800,000.00 19,800,000.00 0.00 85,140.00 85,140.00 0.00 0.00 19,800,000.00 MF_2 14,940,000.00 14,940,000.00 0.00 69,222.00 69,222.00 0.00 0.00 14,940,000.00 MF_3 13,500,000.00 13,500,000.00 0.00 64,800.00 64,800.00 0.00 0.00 13,500,000.00 MV_1 43,200,000.00 43,200,000.00 0.00 104,183.44 104,183.44 0.00 0.00 43,200,000.00 MV_2 10,800,000.00 10,800,000.00 0.00 26,696.86 26,696.86 0.00 0.00 10,800,000.00 MV_3 8,370,000.00 8,370,000.00 0.00 22,924.39 22,924.39 0.00 0.00 8,370,000.00 MV_4 8,100,000.00 8,100,000.00 0.00 22,394.14 22,394.14 0.00 0.00 8,100,000.00 MV_5 8,100,000.00 8,100,000.00 0.00 23,579.89 23,579.89 0.00 0.00 8,100,000.00 MV_6 8,370,000.00 8,370,000.00 0.00 27,609.27 27,609.27 0.00 0.00 8,370,000.00 BF 3,600,000.00 3,600,000.00 0.00 17,700.00 17,700.00 0.00 0.00 3,600,000.00 BV 7,560,000.00 7,560,000.00 0.00 25,588.40 25,588.40 0.00 0.00 7,560,000.00 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTALS 900,000,000.00 879,914,137.13 16,065,816.43 2,352,461.21 18,418,277.64 0.00 0.00 863,848,320.70 X_IO 900,033,964.72 885,160,841.35 0.00 14.61 14.61 0.00 0.00 871,564,647.19 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE PASS-THROUGH RATES ---------------------------------------------------------------------------------------------------------------------------------- CURRENT BEGINNING ENDING PASS-THRU CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS RATE ---------------------------------------------------------------------------------------------------------------------------------- AF_1 152314LA6 956.72717455 42.57285217 2.37587250 44.94872467 914.15432238 AF_1 2.980000 % AF_2 152314LB4 1,000.00000000 0.00000000 2.79166667 2.79166667 1,000.00000000 AF_2 3.350000 % AF_3 152314LC2 1,000.00000000 0.00000000 3.21666672 3.21666672 1,000.00000000 AF_3 3.860000 % AF_4 152314LD0 1,000.00000000 0.00000000 3.90000000 3.90000000 1,000.00000000 AF_4 4.680000 % AF_5 152314LE8 1,000.00000000 0.00000000 4.45833345 4.45833345 1,000.00000000 AF_5 5.350000 % AF_6 152314LF5 1,000.00000000 0.00000000 3.89166679 3.89166679 1,000.00000000 AF_6 4.670000 % AV_1 152314LG3 976.24921374 26.45798354 2.11058384 28.56856737 949.79123020 AV_1 2.510630 % AV_2 152314LH1 964.66605058 23.21495272 2.09384867 25.30880139 941.45109786 AV_2 2.520630 % AV_3 152314LJ7 946.69182409 35.02429826 1.89994557 36.92424383 911.66752583 AV_3 2.330630 % AV_4 152314LK4 1,000.00000000 0.00000000 2.13609789 2.13609789 1,000.00000000 AV_4 2.480630 % AV_5 152314LL2 1,000.00000000 0.00000000 2.29109801 2.29109801 1,000.00000000 AV_5 2.660630 % MF_1 152314LM0 1,000.00000000 0.00000000 4.30000000 4.30000000 1,000.00000000 MF_1 5.160000 % MF_2 152314LN8 1,000.00000000 0.00000000 4.63333333 4.63333333 1,000.00000000 MF_2 5.560000 % MF_3 152314LP3 1,000.00000000 0.00000000 4.80000000 4.80000000 1,000.00000000 MF_3 5.760000 % MV_1 152314LQ1 1,000.00000000 0.00000000 2.41165370 2.41165370 1,000.00000000 MV_1 2.800630 % MV_2 152314LR9 1,000.00000000 0.00000000 2.47193148 2.47193148 1,000.00000000 MV_2 2.870630 % MV_3 152314LS7 1,000.00000000 0.00000000 2.73887575 2.73887575 1,000.00000000 MV_3 3.180630 % MV_4 152314LT5 1,000.00000000 0.00000000 2.76470864 2.76470864 1,000.00000000 MV_4 3.210630 % MV_5 152314LU2 1,000.00000000 0.00000000 2.91109753 2.91109753 1,000.00000000 MV_5 3.380630 % MV_6 152314LV0 1,000.00000000 0.00000000 3.29859857 3.29859857 1,000.00000000 MV_6 3.830630 % BF 152314LW8 1,000.00000000 0.00000000 4.91666667 4.91666667 1,000.00000000 BF 5.900000 % BV 152314LX6 1,000.00000000 0.00000000 3.38470899 3.38470899 1,000.00000000 BV 3.930630 % TOTALS 977.68237459 17.85090714 2.61384579 20.46475293 959.83146744 X_IO N/A 983.47493100 0.00000000 0.00001623 0.00001623 968.36861869 X_IO 0.000000 % ---------------------------------------------------------------------------------------------------------------------------------- IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: -------------------------------------------------- RYAN VAUGHN JPMorgan Chase Bank - Structured Finance Services NY 4 NEW YORK PLAZA FLR 6, , New York, New York 10004 Tel: (212) 623-4484 Fax: (212) 623-5930 Email: Ryan.M.Vaughn@JPMorgan.com -------------------------------------------------- Sec. 7.09(ii) Distributions Allocable to Principal Group I Scheduled Monthly Payments 391,473.49 Curtailments 28,912.70 Prepayments in Full 4,261,032.90 Loans Repurchased by Seller 0.00 Substitution Amounts 0.00 Net Liquidation Proceeds 0.00 Group II Scheduled Monthly Payments 83,281.16 Curtailments 241,182.29 Prepayments in Full 1,865,363.64 Loans Repurchased by Seller 0.00 Substitution Amounts 0.00 Net Liquidation Proceeds 0.00 Group III Scheduled Monthly Payments 292,957.68 Curtailments 12,985.79 Prepayments in Full 6,419,004.51 Loans Repurchased by Seller 0.00 Substitution Amounts 0.00 Net Liquidation Proceeds 0.00 Group I Subordination Increase Amount 721,075.85 Group I Excess Overcollateralization Amount 0.00 Group II/III Subordination Increase Amount 1,748,546.42 Group II/III Excess Overcollateralization Amount 0.00 Sec. 7.09(iv) Class Interest Carryover Shortfall Class AF-1 0.00 Class AF-2 0.00 Class AF-3 0.00 Class AF-4 0.00 Class AF-5 0.00 Class AF-6 0.00 Class AV-1 0.00 Class AV-2 0.00 Class AV-3 0.00 Class AV-4 0.00 Class AV-5 0.00 Class MF-1 0.00 Class MF-2 0.00 Class MF-3 0.00 Class MV-1 0.00 Class MV-2 0.00 Class MV-3 0.00 Class MV-4 0.00 Class MV-5 0.00 Class MV-6 0.00 Class BF 0.00 Class BV 0.00 Sec. 7.09(v) Class Principal Carryover Shortfall Group I Subordinate Certificates Class MF-1 0.00 Class MF-2 0.00 Class MF-3 0.00 Class BF 0.00 Class MV-1 0.00 Class MV-2 0.00 Class MV-3 0.00 Class MV-4 0.00 Class MV-5 0.00 Class MV-6 0.00 Class BV 0.00 Sec. 7.09(vi) Aggregate Loan Balance of Each Group Group I Beginning Aggregate Loan Balance 356,004,364.66 Group I Ending Aggregate Loan Balance 351,322,945.57 Group II Beginning Aggregate Loan Balance 118,217,522.25 Group II Ending Aggregate Loan Balance 116,027,695.16 Group III Beginning Aggregate Loan Balance 410,938,954.44 Group III Ending Aggregate Loan Balance 404,214,006.46 Sec. 7.09(vii) Group I Overcollateralization Group I Total Overcollateralization Amount 2,216,762.06 Group I Total Required Overcollateralization Amount 13,680,000.00 Sec. 7.09(vii) Group II/III Overcollateralization Group II/III Total Overcollateralization Amount 5,499,564.43 Group II/III Total Required Overcollateralization Amount 15,390,000.00 Sec. 7.09(viii) Internal Revenue Code Section 6049(d)(7)(C) Market Discount Information Sec. 7.09(ix) Substitution Amounts Group I 0.00 Group II 0.00 Group III 0.00 Sec. 7.09(ix) Loan Purchase Price Amounts Group I 0.00 Group II 0.00 Group III 0.00 Sec. 7.09(x) Weighted Average Net Coupon Rate Group I 6.4086 % Group II 6.5704 % Group III 6.6391 % Sec. 7.09(xii) Monthly Remittance Amount Group I 583,008.50 Group II 837,439.55 Group III 998,829.58 Sec. 7.09(xiii) Weighted Average Gross Margin Group II Loans 7.0310 % Group III Loans 7.2283 % Sec. 7.09(xiv) Largest Loan Balance Group I 870,495.59 Group II 326,544.15 Group III 795,126.88 Sec. 7.09(xv) Basic Principal Amount Group I 681,419.09 Group II 189,827.09 Group III 724,947.98 Sec. 7.09(xvi) Net Wac Cap Carryover Paid Group I 0.00 Group II 0.00 Group III 0.00 Subordinate 0.00 Sec. 7.09(xvi) Remaining Net Wac Cap Carryover Group I 0.00 Group II 0.00 Group III 0.00 Group I Subordinate 0.00 Group II Subordinate 0.00 Sec. 7.09(xviii) Net Wac Cap Group I Net WAC Cap 6.41 % Group II Net WAC Cap 6.36 % Group III Net WAC Cap 6.42 % Group I Subordinate Net WAC Cap 6.41 % Group II Subordinate Net WAC Cap 6.41 % Sec. 7.09(xix) Applied Realized Loss Amounts Subordinate Certificates Class MF-1 0.00 Class MF-2 0.00 Class MF-3 0.00 Class MV-1 0.00 Class MV-2 0.00 Class MV-3 0.00 Class MV-4 0.00 Class MV-5 0.00 Class MV-6 0.00 Class BF 0.00 Class BV 0.00 Sec. 7.09(xx) Group I Stepdown Date Has Not Occurred Sec. 7.09(xx) Group II/III Stepdown Date Has Not Occurred Sec. 7.09(b)(i) Number and Aggregate Principal Amounts of Mortgage Loans in Delinquency (Includes Bankruptcies) Group 1 Principal Category Number Balance Percentage 1 Month 30 2,824,414.67 0.80 % 2 Month 6 700,231.42 0.20 % 3 Month 0 0.00 0.00 % Total 36 3,524,646.09 1.00 % Group 2 Principal Category Number Balance Percentage 1 Month 19 2,654,990.01 2.29 % 2 Month 1 68,183.43 0.06 % 3 Month 0 0.00 0.00 % Total 20 2,723,173.44 2.35 % Group 3 Principal Category Number Balance Percentage 1 Month 74 10,846,479.61 2.68 % 2 Month 16 2,075,719.89 0.51 % 3 Month 2 127,293.21 0.03 % Total 92 13,049,492.71 3.22 % Group Totals Principal Category Number Balance Percentage 1 Month 123 16,325,884.29 1.87 % 2 Month 23 2,844,134.74 0.33 % 3 Month 2 127,293.21 0.01 % Total 148 19,297,312.24 2.21 % Sec. 7.09(b)(ii) Number and Aggregate Principal Amounts of Mortgage Loans in Foreclosure Group 1 Principal Number Balance Percentage 2 123,545.47 0.04 % Group 2 Principal Number Balance Percentage 1 97,253.65 0.08 % Group 3 Principal Number Balance Percentage 8 814,061.21 0.20 % Group Totals Principal Number Balance Percentage 11 1,034,860.33 0.12 % Sec. 7.09(b)(iii) Number and Aggregate Principal Amounts of Mortgage Loans in Bankruptcy Group 1 Principal Number Balance Percentage 2 139,436.98 0.04 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group 3 Principal Number Balance Percentage 5 478,564.53 0.12 % Group Totals Principal Number Balance Percentage 7 618,001.51 0.07 % Sec. 7.09(b)(iii) Balloon Loans Number of Balloon Loans 18.00 Balance of Balloon Loans 1,348,265.93 Sec. 7.09(b)(iv) Number and Aggregate Principal Amounts of REO Loans Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group 3 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % Sec. 7.09(b)(v) Book Value of REO Loans Group I 0.00 Group II 0.00 Group III 0.00 Sec. 7.09(b)(vi) Realized Losses Group I: Monthly Realized Losses 0.00 Cumulative Realized Losses 0.00 Group II: Monthly Realized Losses 0.00 Cumulative Realized Losses 0.00 Group III: Monthly Realized Losses 0.00 Cumulative Realized Losses 0.00 Sec. 7.09(b)(vii) Net Liquidation Proceeds Group I 0.00 Group II 0.00 Group III 0.00 Sec. 7.09(b)(viii) Group I 60+ Delinquency Percentage (Rolling Three Month) 0.0897 % Sec. 7.09(b)(viii) Group I 60+ Delinquency Percentage (Rolling Three Month) 0.3230 % Sec. 7.09(b)(ix) Group I Cumulative Loss Percentage 0.00 % Group I Cumulative Realized Losses Since Cut-Off Date 0.00 Group I Aggregate Loan Balance as of the Cut-Off Date 360,000,000.00 Sec. 7.09(b)(ix) Group II/III Cumulative Loss Percentage 0.00 % Group II/III Cumulative Realized Losses Since Cut-Off Date 0.00 Group II/III Aggregate Loan Balance as of the Cut-Off Date 540,000,000.00 Sec. 7.09(b)(x) Has a Group I Trigger Event Occurred? NO Sec. 7.09(b)(x) Has a Group II/III Trigger Event Occurred? NO 1-Month LIBOR for Current Distribution Date 2.18063 % Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event

Reported): October 5, 2004

Centex Home Equity Loan Trust 2004-D,

Centex Home Loan Asset-Backed Certificates, Series 2004-D

CHEC FUNDING, LLC
(Exact name of registrant as specified in its charter)
Delaware	333-105322-03	75-2851805
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
2728 North Harwood Street Dallas, Texas 75201
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code (214) 981-5000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(d) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.

Other Events.

CHEC Funding, LLC, as depositor (the “Depositor”) registered issuance of Asset-Backed Certificates and Asset-Backed Notes on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by a Registration Statement on Form S-3 (Registration File No. 333-105322) (as amended, the “Registration Statement”). Pursuant to the Registration Statement, the Depositor caused Centex Home Equity Loan Trust 2004-D to issue $900,000,000 principal amount of Home Equity Loan Asset-Backed Certificates, Series 2004-D (the “Certificates”), on September 23, 2004 (the “Closing Date”).

The Certificates were issued pursuant to a pooling and servicing agreement (the “Pooling and Servicing Agreement”), dated as of September 1, 2004 among the Depositor, Centex Home Equity Corporation, as a seller and servicer, Harwood Street Funding II, LLC as conduit seller and JPMorgan Chase Bank, as trustee.

Capitalized terms not defined herein have the meanings assigned in the Pooling and Servicing Agreement attached hereto as Exhibit 4.1.

Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits.

(c)

Exhibits:

4.1

Pooling and Servicing Agreement

SIGNATURES

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.

CHEC FUNDING, LLC

By: /s/Jeffrey B. Upperman

Name: Jeffrey B. Upperman

Title: Vice President

Date:

October 5, 2004

Exhibit Index

Exhibit

4.1

Pooling and Servicing Agreement

EXHIBIT 4.1

MCKEE NELSON LLP 5 Times Square, 35th Floor New York, New York 10036 Telephone: (212) 777-4200 Facsimile: (212) 777-4299

October 5, 2004

BY MODEM

Securities and Exchange Commission Judiciary Plaza 450 Fifth Street, N.W. Washington, D.C. 20549

Re:

Centex Home Equity Loan Trust 2004-D

Centex Home Loan Asset-Backed Certificates, Series 2004-D

Ladies and Gentlemen:

On behalf of CHEC Funding, LLC (the “Company”), we enclose herewith for filing, pursuant to the Securities and Exchange Act of 1934, as amended, the Company’s Current Report on Form 8-K, for filing of the Pooling and Servicing Agreement in connection with the above-referenced transaction.

Very truly yours,

/s/ Paul Cuccurullo

Paul Cuccurullo

Enclosure

Filing Compare · Centex Home Equity Loan Trust 2004-D