8-K 1 dfs8k4rvmar.txt DFS 2001-1 8K (JULY 2005) August 19, 2005 Securities and Exchange Commission 450 Fifth Street, N.W. Judiciary Plaza Washington, D.C. 20549 Re: Form 8-K Distribution Financial Services RV/Marine Trust 2001-1 Registration No. 333-56303-04 On behalf of Distribution Financial Services RV/Marine Trust 2001-1 ("Registrant"), a Trust which was originated by ETCF Asset Funding Corporation, a Nevada corporation, I am transmitting herewith for filing, pursuant to the requirements of the Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System, Form 8-K. Please send either confirmation or suspense notification to e-mail address: Marlyn.abraham@etrade.com at your earliest convenience. Sincerely, /s/ Matt Pechulis SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Commission File Number: 333-56303-04 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934. August 15, 2005 (Date of earliest event reporting) DISTRIBUTION FINANCIAL SERVICES RV/MARINE TRUST 2001-1 (Exact name of registrant) State of Organization - New York I.R.S. Employer Identification Number: 91-1904587 Principal Executive Offices c/o Wells Fargo Bank, N.A. Sixth and Marquette - N9311-161MAC Minneapolis, Minnesota 55479 Telephone Number: 612-316-1816 Item 8.01. Other Events. A copy of the Monthly Payment Date Statement to Noteholders, as required by the Transfer and Servicing Agreement, is being filed as Exhibit 1 to this current report on Form 8-K. Item 9.01.(c). Exhibits.

Exhibit Number Document Description ------ -------------------------------------------------------- EX-1 Distribution Financial Services RV/Marine Trust 2001-1 ~~July~~August 15, 2005 Payment Date Statement to Noteholders Per Section 5.08 of the Transfer 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. DISTRIBUTION FINANCIAL SERVICES RV/MARINE TRUST 2001-1 By: Wells Fargo Bank, N.A. Not in its individual capacity but solely as Owner Trustee By: /s/ Sue Dignan Title: Assistant Vice President Date: August 19, 2005 EX-1 DISTRIBUTION FINANCIAL SERVICES RV/MARINE TRUST 2001-1 ~~Accounting Date: 10-Aug-05 Determination Date: 12-Aug-05 Monthly Payment Date: 15-Aug-05 Collection Period Ending: 31-Jul-05~~

I. COLLECTION ACCOUNT SUMMARY Total Available Funds ----------------------- Principal and Interest Payments Received (including Prepayments) 4,276,881.60 Net Liquidation Proceeds (including Rebates/Insurance Amounts) 54,108.42 Current Advance/Advance Recovery 18,885.48 Recoup of Collection Expenses -21,030.19 Amount of Withdrawal, if any, from Reserve Account 224,912.24 Purchase Amounts for Repurchased Receivables 0.00 TOTAL AVAILABLE FUNDS 4,553,757.55

II. SIMPLE INTEREST EXCESS OR SHORTFALLS Amount of Interest Payments Due During the Collection Period for Receivables 946,596.88 Amount of Interest Payments Received During the Collection Period for Receivables 927,711.40 Amount of Current Month Simple Interest Excess/Shortfall 18,885.48

III.CALCULATION OF RESERVE ACCOUNT DEPOSIT/WITHDRAWALS Reserve Account Required Amount (not more than the outstanding principal balance of the Notes) 3,971,004.20 Beginning Reserve Account Balance 2,792,216.90 Deposits to Reserve Account (only if Reserve Account is less than the Specified Reserve Account Balance) 0.00 Withdrawals from Reserve Account (to the extent that there are shortfalls on payments of Interest or Principal) -224,912.24 Reserve Account Investment Earnings 8,513.32 Withdrawals from Reserve Account due to Servicer (to the extent that the Specified Reserve Account Balance 0.00 has been met) Amount in Reserve Account as of Determination Date (excluding amount to be paid on next Payment Date) 2,792,216.90 Total Ending Reserve Balance 2,575,817.98

IV. COLLECTIONS ON RECEIVABLES a) Interest and Principal Payments Received ------------------------------------------ Interest Payments Received 927,711.40 Scheduled Principal Payments Received 844,750.22 Principal Prepayments Received 2,504,419.98 Total Interest and Principal Payments Received 4,276,881.60 b) Liquidation Proceeds ---------------------- Gross Recovery Proceeds of Liquidated Receivables (including Rebates/Insurance) 63,544.95 minus Reasonable Expenses 9,436.53 Net Liquidation Proceeds 54,108.42 Amount Allocable to Interest 0.00 Amount Allocable to Principal 54,108.42 c) Purchase Amount - Loans Repurchased from Trust ------------------------------------------------ Amount Allocable to Interest 0.00 Amount Allocable to Principal 0.00 TOTAL COLLECTED FUNDS 4,330,990.02

V. CALCULATION OF SERVICING AND TRUSTEE FEES Pool Balance of Receivables as of the First Day of Collection Period 124,911,111.73 multiplied by Servicer Fee Rate 0.75% divided by Months per Year 12 SERVICING FEE AMOUNT 78,069.44

VI. POOL BALANCE AND PORTFOLIO PERFORMANCE a) Pool Balance -------------- Initial Pool Balance 529,467,226.64 Pool Balance as of Preceding Accounting Date 124,911,111.73 Pool Balance as of the Current Accounting Date 121,101,477.87 Age of Pool in Months 45 a.2) Aggregate Note Balance ----------------------- Aggregate Note Balance as of Preceding Accounting Date 124,911,111.73 Aggregate Note Balance as of Current Accounting Date 121,101,477.87 b) Default and Delinquency Performance (includes Repossessions and Bankruptcies) -----------------------------------------------------------------------------

Current Month Number of Loans Principal Balance Percentage ------------- --------------- ----------------- ---------- 30-59 Days Delinquent 2330 ~~374~~961,~~496~~595.2903 0.~~300~~794% 60-89 Days Delinquent 149 ~~329~~122,~~743~~730.6165 0.~~264~~101% 90-119 Days Delinquent 177 ~~313~~148,~~763~~147.9592 0.~~251~~122% 120+ Days Delinquent 0 0.00 0.000% Defaults for Current Period 1620 ~~415~~460,~~474~~463.0866 0.~~333~~380% Cumulative Defaults ~~616~~636 24,~~024~~484,~~000~~463.3399 4.~~537~~624% Cumulative Recoveries 10,~~547~~601,~~375~~483.1456 12.~~992~~002% Current Period Realized Losses ------------------------------- Current Month Realized Losses ~~415~~460,~~474~~463.0866 Current Month Realized Losses as Percentage of Initial Pool Balance 0.~~078~~087% Preceding Realized Losses ~~393~~415,~~725~~474.6008 Preceding Month Realized Losses as Percentage of Initial Pool Balance 0.~~074~~078% Second Preceding Realized Losses ~~655~~393,~~413~~725.60 Second Preceding Month Realized Losses as Percentage of Initial Pool Balance 0.~~124~~074% Cumulative Realized Losses 13,~~476~~882,~~625~~980.1943 Cumulative Realized Losses as Percentage of Initial Pool Balance 2.~~545~~622%

VII. DISTRIBUTIONS OF THE TOTAL DISTRIBUTABLE AMOUNT Total Pool Factor 0.22314626 Note Pool Factor 0.22314626 a) Monthly Servicing Fee and any unpaid servicing fee from prior Monthly Payment Dates 78,069.44 Servicer Reimbursements for Mistaken Deposits or Posting of Checks Returned for Insufficient Funds (not Otherwise Reimbursed by Servicer) 0.00 b) Noteholders' Monthly Interest Distributable Amount --------------------------------------------------- Class A-1 0.00 Class A-2 0.00 Class A-3 0.00 Class A-4 48,247.50 Class A-5 373,205.42 Class B 106,255.75 Class C 52,993.50 Class D 85,352.08 Noteholders' Monthly Principal Distributable Amount -----------------------------------------------------

Noteholders' Monthly Beginning Principal Distributable Ending Balance Amount Balance -------------- -------------------- ---------- Class A-1 0.00 0.00 0.00 Class A-2 0.00 0.00 0.00 Class A-3 0.00 0.00 0.00 Class A-4 1510,~~072~~211,~~191~~111.0173 43,~~861~~809,~~079~~633.2886 106,~~211~~401,~~111~~477.7387 Class A-5 72,350,000.00 0.00 72,350,000.00 Class B 19,830,000.00 0.00 19,830,000.00 Class C 9,270,000.00 0.00 9,270,000.00 Class D 13,250,000.00 0.00 13,250,000.00 c) Excess Spread Received ~~22,792~~0.9000

VIII. POOL STATISTICS Weighted Average Coupon (WAC) 9.24% Weighted Average Remaining Maturity (WAM) 130.00 TOTAL DISTRIBUTION AMOUNT (Serv Fee+Note Int+Note Prin+Reserve Deposit-Reserve Overfunded Deposit) 4,553,757.55 Less: Reserve Withdrawal -224,912.24 TOTAL WIRE TO HSBC 4,328,845.31 Amount Due To Servicer (Excess Spread-Reserve Deposit+Reserve Overfunded Withdrawal) 0.00

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