8-K 1 srz9500382v1.txt CIT 8-K 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): September 12, 2003 CIT Equipment Collateral 2001-1 (Exact Name of Registrant as Specified in its Charter) Delaware (State or other jurisdiction of incorporation) 333-53688 51-0407692 (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) Registrants' telephone number, including area code: (410) 244-4626 N/A (Former name or former address, if changed since last report) Item 7. FINANCIAL STATEMENTS AND EXHIBITS. --------------------------------- (c). Exhibits. The following are filed herewith. The exhibit numbers correspond with items 601(b) of Regulation S-K. EXHIBIT NO. DESCRIPTION ----------- ----------- 99.1 Pool Data 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/ Barbara Callahan ----------------------------- Name: Barbara Callahan Title: Vice President Dated: September 12, 2003 Exhibit 99.1 - Pool Data Report CIT EQUIPMENT COLLATERAL 2001-1 COMPOSITION OF CONTRACT POOL AT JUNE 30, 2003

~~CIT EQUIPMENT TRUST 2001-1 COMPOSITION OF CONTRACT POOL AT JANUARY 31, 2003~~ WEIGHTED WEIGHTED AVERAGE CURRENT AVERAGE AVERAGE REQUIRED NUMBER REQUIRED ORIGINAL REMAINING PAYOFF OF PAYOFF TERM TERM AMOUNT CONTRACTS AMOUNT (RANGE) (RANGE) (RANGE) --------- -------- -------- ---------- -------- 3430,~~473~~675 $~~259~~ 182,~~043~~921,~~560~~285 5255.61 months 2422.93 months $75,~~514~~963 (2024 to 96 months) (0 to 7267 months) ($0 to $2,~~927~~638,~~364~~014)

TYPE OF CONTRACT AT ~~JANUARY~~JUNE 3130, 2003 % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF TYPE OF CONTRACT CONTRACTS CONTRACTS AMOUNT AMOUNT ---------------- ---------- --------- -------- -------- True Leases 2623,~~759~~689 77.6223% $~~202~~ 141,~~788~~916,~~521~~639 7877.2858% Finance Leases 76,~~503~~814 2122.7621 5540,~~090~~098,~~383~~149 21.2792 Loans and other financing arrangements ~~211~~172 0.6156 1906,~~164,656~~498 0.4550 ---------------------------------------------------------------------------~~---~~ Total 3430,~~473~~675 100.00% $~~259~~ 182,~~043~~921,~~560~~285 100.00% ===========================================================================~~===~~

CIT EQUIPMENT COLLATERAL 2001-1 GEOGRAPHICAL DISTRIBUTION (BASED ON OBLIGOR BILLING ADDRESS) AT JUNE 30, 2003

~~CIT EQUIPMENT TRUST 2001-1 GEOGRAPHICAL DISTRIBUTION (BASED ON OBLIGOR BILLING ADDRESS) AT JANUARY 31, 2003~~ % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF STATE CONTRACTS CONTRACTS AMOUNT AMOUNT ----- --------- --------- -------- --------- Alabama ~~365~~324 1.06% $ 1,~~445~~042,~~711~~368 0.5657% Alaska 6766 0.1922 ~~381~~305,~~014~~678 0.1517 Arizona ~~528~~439 1.5343 52,~~007~~917,~~951~~312 1.9359 Arkansas ~~195~~181 0.5759 ~~822~~635,~~311~~932 0.3235 California 43,~~239~~757 12.3025 2417,~~932~~560,~~368~~079 9.6260 Colorado ~~686~~597 1.9995 32,~~792~~754,~~635~~955 1.4651 Connecticut ~~581~~530 1.6973 75,~~248~~430,~~031~~224 2.8097 Delaware ~~376~~283 10.0992 21,~~170~~338,~~670~~291 0.8473 District of Columbia ~~196~~174 0.57 21,~~637~~440,~~371~~185 10.0279 Florida 21,~~008~~798 5.8286 128,~~161~~044,~~002~~067 4.6940 Georgia 1,~~328~~223 3.8599 1410,~~478~~695,~~583~~998 5.5985 Hawaii 2019 0.06 8760,~~346~~404 0.03 Idaho ~~129~~116 0.3738 ~~611~~436,~~399~~143 0.24 Illinois ~~787~~717 2.2834 1310,~~976~~317,~~737~~099 5.4064 Indiana ~~444~~378 1.2923 21,~~486~~757,~~101~~951 0.96 Iowa ~~268~~222 0.7872 2,~~871~~341,~~656~~195 1.1128 Kansas ~~221~~199 0.6465 32,~~433~~115,~~397~~134 1.3316 Kentucky ~~280~~254 0.8183 1834,~~202,657~~574 0.46 Louisiana ~~324~~271 0.9488 ~~748~~445,~~329~~120 0.2924 Maine 4442 0.1314 ~~210~~159,~~623~~432 0.0809 Maryland ~~784~~713 2.2732 43,~~583~~311,~~915~~037 1.7781 Massachusetts 1,~~493~~277 4.3316 85,~~555~~822,~~376~~418 3.3018 Michigan ~~1,110~~999 3.2226 97,~~373~~261,~~676~~486 3.6297 Minnesota ~~622~~562 1.8083 43,~~885~~656,~~438~~711 12.8900 Mississippi ~~175~~155 0.51 1886,~~282,164~~508 0.4948 Missouri ~~438~~383 1.2725 32,~~899~~721,~~191~~106 1.5149 Montana ~~115~~101 0.33 ~~283~~204,~~726~~971 0.11 Nebraska ~~111~~101 0.3233 1,~~672~~306,~~839~~093 0.6571 Nevada ~~186~~171 0.5456 ~~881~~609,~~820~~781 0.3433 New Hampshire ~~252~~222 0.7372 1833,~~225,870~~339 0.4746 New Jersery 1,~~870~~688 5.4250 1410,~~755~~927,~~689~~131 5.7097 New Mexico ~~175~~152 0.5150 ~~671~~439,~~496~~869 0.2624 New York 3,~~643~~277 10.5768 3324,~~591~~583,683 1213.9744 North Carolina ~~927~~818 2.6967 64,~~388~~192,~~516~~312 2.4729 North Dakota 3129 0.09 ~~454~~281,~~252~~983 0.1815 Ohio ~~928~~848 2.6976 64,~~370~~620,~~293~~174 2.4653 Oklahoma ~~288~~255 0.8483 1912,~~382,193~~823 0.5350 Oregon ~~397~~353 1.15 1,~~743~~276,~~919~~921 0.6770 Pennsylvania 1,~~663~~506 4.8291 107,~~507~~646,~~151~~771 4.0618 Rhode Island ~~123~~118 0.3638 ~~708~~477,~~497~~882 0.2726 South Carolina ~~334~~297 0.97 21,~~064~~430,~~304~~731 0.8078 South Dakota 4337 0.12 ~~512~~385,~~635~~382 0.2021 Tennessee ~~680~~607 1.9798 32,~~800~~404,~~328~~742 1.4731 Texas 2,~~606~~303 7.5651 1811,~~791~~936,~~820~~226 76.2553 Utah ~~150~~138 0.4445 1,~~457~~100,~~779~~225 0.5660 Vermont ~~109~~100 0.3233 ~~376~~286,~~106~~812 0.1516 Virginia ~~884~~771 2.5651 97,~~211~~152,~~315~~656 3.5691 Washington ~~689~~615 2.00 42,~~008~~271,~~576~~211 1.5524 West Virginia ~~104~~89 0.3029 ~~686~~549,~~588~~054 0.2730 Wisconsin ~~402~~350 1.1714 42,~~000~~659,~~170~~288 1.5445 Wyoming 5550 0.16 ~~210~~139,~~342~~819 0.08 ------------ ---------------- ------------------ --------------~~--------------------------------~~ Total 3430,~~473~~675 100.00% $ ~~259~~182,~~043~~921,~~560~~285 100.00% ============ ================ ================== ==============~~================================~~

CIT EQUIPMENT COLLATERAL 2001-1 PAYMENT STATUS AT JUNE 30, 2003

~~CIT EQUIPMENT TRUST 2001-1 PAYMENT STATUS AT JANUARY 31, 2003~~ % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF DAYS DELINQUENT CONTRACTS CONTRACTS AMOUNT AMOUNT --------------- ----------- --------- -------- -------- Current, including 1 to 30 day delinquent contracts 3128,~~960~~695 9293.7155% $~~246~~ 174,~~539~~351,~~666~~332 95.1731% 31-60 days delinquent 1,~~358~~042 3.9440 75,~~298~~184,~~496~~680 2.8283 61-90 days delinquent ~~532~~458 1.5449 21,~~650~~512,~~199~~250 10.0283 91-120 days delinquent ~~287~~219 0.8371 1781,~~017,090~~835 0.3943 Over 120 days delinquent ~~336~~261 0.9785 1,~~538~~091,~~109~~189 0.5960 ----------- ------------- --------------------- ---------------~~-----------------------~~ Total 3430,~~473~~675 100.00% $~~259~~ 182,~~043~~921,~~560~~285 100.00% =========== ============= ===================== ===============~~=======================~~

EQUIPMENT TYPE AT JUNE 30, 2003

~~EQUIPMENT TYPE AT JANUARY 31, 2003~~ % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF TYPE OF EQUIPMENT ~~CONTRACT~~CONTRACTS CONTRACTS AMOUNT AMOUNT ----------------- -------- --- ------ --- ------ ------~~---~~ Telecommunications 76,~~336~~928 2122.2859 % $~~134~~ 106,~~605~~008,~~190~~896 5157.9695% Computer & Point-of-Sale 2118,~~802~~938 6361.2474 7540,~~395~~477,~~066~~181 2922.1113 General Office Equipment 2,~~723~~369 7.9072 2618,~~049~~729,~~637~~963 10.0624 Automotive Diagnostic Equipment 2,~~198~~065 6.3873 1713,~~089~~563,~~190~~727 67.6042 Computer Software 9085 0.2628 2,~~967~~094,~~336~~267 1.1514 Other(1) ~~324~~290 0.9495 2,~~937~~047,~~139~~252 1.1312 ----------- ------------- -------------------- ---------------~~------------------------~~ Total 3430,~~473~~675 100.00% $~~259~~ 182,~~043~~921,~~560~~285 100.00% =========== ============= ==================== ===============~~========================~~ (1) Includes $~~198~~162,~~731~~496 as the largest and $97,~~065~~059 as the average Required Payoff Amount

CIT EQUIPMENT COLLATERAL 2001-1 REQUIRED PAYOFF AMOUNT AT JUNE 30, 2003

~~CIT EQUIPMENT TRUST 2001-1 REQUIRED PAYOFF AMOUNT AT JANUARY 31, 2003~~ % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF REQUIRED PAYOFF AMOUNT CONTRACTS CONTRACTS AMOUNT AMOUNT ---------------------- --------- --------- -------- ------~~----~~ 0 - 5,000.00 2524,~~776~~295 7479.7720 % $ 4232,~~179~~107,~~020~~866 1617.2855% 5,000.01 - 10,000.00 32,~~953~~867 119.4735 2719,~~740~~988,~~019~~886 10.7193 10,000.01 - 15,000.00 1,~~433~~039 43.1639 1712,~~459~~684,~~755~~165 6.7493 15,000.01 - 25,000.00 1,~~396~~113 43.0563 2721,~~214~~345,~~046~~454 1011.5167 25,000.01 - 50,000.00 ~~1,158~~818 32.3667 3927,~~677~~249,~~762~~543 1514.3290 50,000.01 - 100,000.00 ~~459~~360 1.3317 3124,~~997~~834,~~142~~619 1213.3558 100,000.01 - 150,000.00 ~~143~~79 0.4126 179,~~050~~359,~~100~~875 65.5812 150,000.01 - 250,000.00 8359 0.2419 1510,~~760~~972,~~507~~436 6.0800 250,000.01 - 500,000.00 4830 0.1410 1610,~~610~~349,~~495~~136 65.4166 500,000.01 - 1,000,000.00 1712 0.0504 118,~~565~~289,~~975~~096 4.4653 1,000,000.01 - ~~1,500,000.00 5 0.01 6,466,491~~ 2~~.50 1~~,~~500,~~000~~.01 - 2~~,~~500,~~000.00 1 0.00 21,~~394~~081,~~884~~891 0.9259 2,~~500~~000,000.01 - 53,000,000.00 (1) 12 0.0001 24,~~927~~658,~~364~~319 12.1355 ---------- ---------- ------------------- --------------~~-------------------~~ Total 3430,~~473~~675 100.00 % $ ~~259~~182,~~043~~921,~~560~~285 100.00% ========== ========== =================== ==============~~=================== (1) Includes $2,927,364 as the largest Required Payoff Amount.~~

(1) Includes $2,638,014 as the largest Required Payoff Amount. REMAINING TERM AT JUNE 30, 2003

~~REMAINING TERM AT JANUARY 31, 2003~~ % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF REMAINING TERMS OF CONTRACTS CONTRACTS CONTRACTS AMOUNT AMOUNT ---------------------------- ----------- --------- -------- -------- (MONTHS) 0- 12 1917,~~366~~302 56.1840% $ 6734,~~898~~848,~~159~~792 2619.2105% 13- 24 7,~~273~~561 2124.1065 4354,~~763~~220,~~576~~622 1629.8964 25- 36 75,~~409~~750 2118.4974 ~~134~~87,~~291~~357,~~442~~858 5147.8476 37- 48 ~~401~~47 10.1615 72,~~512~~048,~~370~~198 21.9012 49- 60 2114 0.0605 4,~~957~~355,~~016~~379 12.9138 61- 72 31 0.0100 ~~620~~90,~~998~~436 0.2405 73- 84 - - - - --------- --------------- ------------------- --------------~~---------------~~ Total 3430,~~473~~675 100.00% $ ~~259~~182,~~043~~921,~~560~~285 100.00% ============== =============== =================== ==============~~==========~~

CIT EQUIPMENT COLLATERAL 2001-1 TYPES OF OBLIGOR AT JUNE 30, 2003

~~CIT EQUIPMENT TRUST 2001-1 TYPES OF OBLIGOR AT JANUARY 31, 2003~~ % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF TYPE OF OBLIGOR CONTRACTS CONTRACTS AMOUNT AMOUNT --------------- ----------- --------- -------- -------- Service Organizations(1) 1211,~~776~~446 37.0631% $~~100~~ 71,~~584~~297,~~459~~880 38.8398% Manufacturing 32,~~218~~730 98.3390 3925,~~376~~829,~~198~~627 1514.2012 Retail & Wholesale Trade 43,~~155~~781 12.05 33 23,~~094~~974,~~061~~508 1213.7811 Financial Services Institutions 2,~~362~~084 6.8579 3123,~~491~~348,~~969~~317 12.1676 Other(2) 76,~~695~~807 22.3219 2213,~~041~~747,~~531~~625 87.5152 Transportation ~~1,013~~904 2.9495 119,~~600~~652,~~419~~633 45.4828 Medical/Healthcare Organizations 1,~~216~~109 3.5362 76,~~984~~018,~~541~~926 3.0829 Printing & Copy Centers ~~512~~445 1.4945 64,~~451~~575,~~484~~297 2.4950 Construction ~~1,046~~927 3.0302 32,~~916~~749,~~881~~212 1.5150 Government ~~167~~153 0.4850 1761,~~191,035~~772 0.4642 Resources, Farming & Fishing ~~288~~265 0.8486 1746,~~020,737~~770 0.3941 Machine Tools 2524 0.0708 ~~290~~218,~~245~~719 0.1112 ---------- ---------- -------------------- --------------~~-----------------------------~~ Total 3430,~~473~~675 100.00% $~~259~~182,~~043~~921,~~560~~285 100.00% ========== ========== ==================== ==============~~=============================~~ (1) Primarily Automotive Repair, Service & Parts (20%), Business Services (20%); Other Service Organizations (19%); Engineering, Accounting & Research (12%); and Legal Services (6%). (2) Includes $176,895 as the largest Required Payoff Amount belonging to a single obligor As shown in the table above, the servicer's records lists 7.52% of the total required payoff amount in the category of "Other" types of obligor. The servicer notes that the collateral securing approximately 4.44% of the required payoff amount represents small ticket computer equipment typically leased to small businesses. The remaining "Other" obligor category represents approximately 3.08% of the required payoff amount. The depositor has not analyzed this category to determine whether or not the contracts included in it could be grouped into some other more specific type of obligor category.

OBLIGOR CONCENTRATION

~~OBLIGOR~~% ~~CONCENTRATION~~OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OBLIGORS (INCLUDING CONTRACTS SECURING OF OF PAYOFF PAYOFF VENDOR LOANS) CONTRACTS CONTACTS AMOUNT AMOUNT ------------- -----------~~---------------~~ --------- -------- ------~~---~~ Top 5 ~~381~~377 1.23% $19 15,~~452~~968,~~056~~082 78.5173% The ~~industries~~Top ~~in which the top~~ 5 obligors conduct business ~~are,~~in the Retail ~~and~~& Wholesale Trade, ~~Service~~Manufacturing ~~Organizations~~ and Financial Services industries.

CIT EQUIPMENT COLLATERAL 2001-1 SCHEDULED PAYMENT AT JUNE 30, 2003

~~CIT EQUIPMENT TRUST 2001-1 SCHEDULED PAYMENT AT JANUARY 31, 2003~~ COLLECTION SCHEDULED COLLECTION SCHEDULED PERIOD CASHFLOWS PERIOD CASHFLOWS ------~~----~~ --------- ------~~----~~ --------- Positive Rent Due 43,~~113~~350,~~919~~778.5351 ~~February~~July-2003 1210,~~490~~837,~~864~~737.8311 ~~September-2005 2,580,765.77 March-2003 14,643,176.02 October-2005 1,899,929.14 April-2003 15,060,003.77~~ November-2005 1,~~373~~345,~~975~~673.3755 ~~May~~August-2003 1412,~~611~~840,~~087~~183.6998 December-2005 ~~807~~789,~~927~~964.5756 ~~June~~September-2003 1412,~~062~~471,~~582~~665.7163 January-2006 ~~427~~421,~~646~~947.4783 ~~July~~October-2003 1412,~~088~~390,~~458~~024.5729 February-2006 ~~240~~235,~~342~~804.5866 ~~August~~November-2003 1311,~~567~~446,~~283~~572.0738 March-2006 194,~~263~~082.8324 ~~September~~December-2003 139,~~095~~491,~~187~~865.1789 April-2006 ~~169~~170,~~604~~217.4511 ~~October~~January-~~2003~~2004 128,~~948~~368,~~589~~537.6009 May-2006 ~~155~~157,~~701~~081.9014 ~~November~~February-~~2003~~2004 117,~~953~~130,~~004~~178.1666 June-2006 ~~153~~154,~~769~~392.2454 ~~December~~March-~~2003~~2004 96,~~900~~887,~~745~~265.7119 July-2006 143,~~108~~420.2735 ~~January~~April-2004 86,~~721~~863,~~073~~356.8831 August-2006 ~~141~~142,~~740~~053.9200 ~~February~~May-2004 76,~~417~~819,~~859~~208.9602 September-2006 130,~~019~~331.5462 ~~March~~June-2004 76,~~156~~765,~~295~~034.9412 October-2006 126,416.33 ~~April~~July-2004 76,~~138~~491,~~014~~403.6877 November-2006 119,927.35 ~~May~~August-2004 76,~~096~~200,~~090~~450.5389 December-2006 116,791.05 ~~June~~September-2004 76,~~028~~100,~~059~~803.7686 January-2007 135,791.34 ~~July~~October-2004 65,~~760~~971,~~572~~348.5091 February-2007 111,394.89 ~~August~~November-2004 6,~~470~~016,~~033~~386.6705 March-2007 104,399.92 ~~September~~December-2004 65,~~327~~564,~~725~~696.6213 April-2007 98,171.10 ~~October~~January-~~2004~~2005 65,~~219~~253,~~055~~856.5337 May-2007 98,171.10 ~~November~~February-~~2004~~2005 64,~~260~~567,~~935~~883.5730 June-2007 98,171.10 ~~December~~March-~~2004~~2005 54,~~783~~304,~~949~~021.4663 July-2007 97,559.32 ~~January~~April-2005 54,~~447~~041,~~911~~587.9638 August-2007 98,612.67 ~~February~~May-2005 43,~~740~~780,~~463~~364.6154 September-2007 88,599.00 ~~March~~June-2005 43,~~467~~590,~~395~~643.0602 October-2007 27,345.47 ~~April~~July-2005 43,~~208~~359,~~729~~289.3165 November-2007 12,392.64 ~~May~~August-2005 32,~~933~~992,~~118~~994.3712 December-2007 10,597.35 ~~June~~September-2005 32,~~732~~496,~~664~~009.4437 January-2008 31,358.24 ~~July~~October-2005 31,~~489~~863,~~608~~812.~~08 February-2008 - August-2005 3,084,703.64~~88

Filing Compare · CIT EQUIPMENT COLLATERAL 2001-1