8-K 1 srz9624155v1.txt CIT EQUIPMENT COLLATERAL 2001-1 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): April 14, 2004 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/ Usama Ashraf ------------------------------ Name: Usama Ashraf Title: Vice President Dated: April 14, 2004

Exhibit 99.1 - Pool Data Report CIT EQUIPMENT COLLATERAL 2001-1 COMPOSITION OF CONTRACT POOL AT DECEMBER 31, 2003 WEIGHTED WEIGHTED AVERAGE CURRENT AVERAGE AVERAGE REQUIRED NUMBER REQUIRED ORIGINAL REMAINING PAYOFF OF PAYOFF TERM TERM AMOUNT CONTRACTS AMOUNT (RANGE) (RANGE) (RANGE) --------- -------- -------- -------~~---~~ ------- 3018,~~675~~523 $ ~~182~~108,~~921~~340,~~285~~422 5559.14 months 2220.35 months $5,~~963~~735 (24 to 96 months) (0 to 6761 months) ($0 to $2,~~638~~414,~~014~~752)

TYPE OF CONTRACT AT ~~JUNE~~DECEMBER 3031, 2003 % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF TYPE OF CONTRACT CONTRACTS CONTRACTS AMOUNT AMOUNT ---------------- ---------- --------- ------ ------ True Leases 2314,~~689~~286 77.2313 % ~~$ 141~~81,~~916~~746,~~639~~882 7775.~~58%~~45 Finance Leases 64,~~814~~085 22.2105 4025,~~098~~955,~~149~~981 2123.9296 Loans and other financing arrangements ~~172~~152 0.5682 ~~906~~637,~~498~~559 0.5059 -----------------------------------------------------------------------~~----~~ Total 3018,~~675~~523 100.00 % ~~$ 182~~108,~~921~~340,~~285~~422 100.00% ========================================================================~~===~~

CIT EQUIPMENT COLLATERAL 2001-1 GEOGRAPHICAL DISTRIBUTION (BASED ON OBLIGOR BILLING ADDRESS) AT DECEMBER 31, 2003 % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF STATE CONTRACTS CONTRACTS AMOUNT AMOUNT ----- ----------- --------- -------- ------~~---~~ Alabama ~~324~~201 1.0609 % ~~$ 1~~673,~~042,368~~227 0.5762 % Alaska 6648 0.2226 ~~305~~214,~~678~~241 0.1720 Arizona ~~439~~230 1.4324 21,~~917~~049,~~312~~526 10.5997 Arkansas ~~181~~110 0.59 ~~635~~405,~~932~~288 0.3537 California 32,~~757~~163 1211.2568 1710,~~560~~148,~~079~~362 9.6037 Colorado ~~597~~333 1.9580 21,~~754~~434,~~955~~209 1.5132 Connecticut ~~530~~291 1.7357 52,~~430~~001,~~224~~091 21.9785 Delaware ~~283~~114 0.9262 1765,~~338,291~~254 0.7371 District of Columbia ~~174~~110 0.5759 1971,~~440,185~~895 0.7990 Florida 1,~~798~~057 5.8671 84,~~044~~638,~~067~~159 4.4028 Georgia ~~1,223~~854 34.9961 106,~~695~~876,~~998~~753 56.8535 Hawaii 1911 0.06 6033,~~404~~259 0.03 Idaho ~~116~~65 0.3835 ~~436~~239,~~143~~680 0.2422 Illinois ~~717~~540 2.3492 107,~~317~~210,~~099~~040 56.6465 Indiana ~~378~~231 1.2325 1,~~757~~051,~~951~~987 0.9697 Iowa ~~222~~132 0.7271 21,~~341~~521,~~195~~384 1.2840 Kansas ~~199~~114 0.6562 2490,~~115,134~~858 10.1645 Kentucky ~~254~~161 0.8387 ~~834~~470,~~574~~241 0.4643 Louisiana ~~271~~157 0.8885 ~~445~~160,~~120~~377 0.2415 Maine 4220 0.1411 ~~159~~97,~~432~~718 0.09 Maryland ~~713~~451 2.3243 32,~~311~~078,~~037~~493 1.8192 Massachusetts ~~1,277~~727 43.1692 53,~~822~~483,~~418~~997 3.1822 Michigan ~~999~~629 3.2640 74,~~261~~902,~~486~~420 34.9753 Minnesota ~~562~~349 1.8388 32,~~656~~426,~~711~~701 2.0024 Mississippi ~~155~~102 0.5155 ~~886~~462,~~508~~881 0.4843 Missouri ~~383~~206 1.2511 21,~~721~~513,~~106~~682 1.4940 Montana ~~101~~60 0.3332 ~~204~~122,~~971~~783 0.11 Nebraska ~~101~~71 0.3338 1818,~~306,093~~941 0.7176 Nevada ~~171~~101 0.5655 ~~609~~372,~~781~~667 0.3334 New Hampshire ~~222~~133 0.72 ~~833~~537,~~339~~034 0.4650 New ~~Jersery~~Jersey 1,~~688~~118 56.5004 107,~~927~~300,~~131~~564 56.9774 New Mexico ~~152~~82 0.5044 ~~439~~242,~~869~~736 0.2422 New York 32,~~277~~105 1011.6836 2415,~~583~~188,~~683~~487 1314.4402 North Carolina ~~818~~471 2.6754 42,~~192~~342,~~312~~400 2.2916 North Dakota 2914 0.0908 ~~281~~138,~~983~~862 0.1513 Ohio ~~848~~535 2.7689 42,~~620~~833,~~174~~481 2.5362 Oklahoma ~~255~~136 0.8373 ~~912~~536,~~823~~467 0.50 Oregon ~~353~~193 1.1504 1756,~~276,921~~511 0.70 Pennsylvania ~~1,506~~991 45.9135 74,~~646~~620,~~771~~060 4.1826 Rhode Island ~~118~~71 0.38 ~~477~~301,~~882~~926 0.2628 South Carolina ~~297~~160 0.9786 1717,~~430,731~~218 0.7866 South Dakota 3721 0.1211 ~~385~~265,~~382~~033 0.2124 Tennessee ~~607~~311 1.9868 21,~~404~~124,~~742~~685 1.3104 Texas 21,~~303~~299 7.5101 115,~~936~~765,~~226~~752 65.5332 Utah ~~138~~94 0.4551 1771,~~100,225~~164 0.6071 Vermont ~~100~~65 0.3335 ~~286~~187,~~812~~889 0.1617 Virginia ~~771~~465 2.51 75,~~152~~032,~~656~~488 34.9165 Washington ~~615~~343 21.0085 21,~~271~~114,~~211~~062 1.2403 West Virginia 8962 0.2933 ~~549~~422,~~054~~557 0.3039 Wisconsin ~~350~~189 1.1402 21,~~659~~421,~~288~~517 1.4531 Wyoming 5027 0.1615 ~~139~~83,~~819~~417 0.08 ------------ -----------~~-----~~ --------------~~----~~ ----------~~----~~ Total 3018,~~675~~523 100.00 % ~~$182~~108,~~921~~340,~~285~~422 100.00 % ============ ===========~~=====~~ ==============~~====~~ ==========~~====~~

CIT EQUIPMENT COLLATERAL 2001-1 PAYMENT STATUS AT DECEMBER 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 2817,~~695~~000 9391.5578 % ~~$ 174~~103,~~351~~434,~~332~~262 95.3147 % 31-60 days delinquent ~~1,042~~787 34.4025 53,~~184~~014,~~680~~626 2.8378 61-90 days delinquent ~~458~~344 1.4986 1,~~512~~007,~~250~~027 0.8393 91-120 days delinquent ~~219~~168 0.7191 ~~781~~437,~~835~~770 0.4340 Over 120 days delinquent ~~261~~224 01.8521 1446,~~091,189~~737 0.6041 ----------- ----------~~---~~ ---------------~~------~~ ----------~~-----~~ Total 3018,~~675~~523 100.00 % ~~$ 182~~108,~~921~~340,~~285~~422 100.00 % =========== ==========~~===~~ ===============~~======~~ ==========~~=====~~

EQUIPMENT TYPE AT DECEMBER 31, 2003 % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF TYPE OF EQUIPMENT CONTRACTS CONTRACTS AMOUNT AMOUNT ----------------- ----------- --------- ------ ------ Telecommunications 65,~~928~~624 2230.5936 % ~~$ 106~~74,~~008~~074,~~896~~377 5768.9537 % ~~Computer~~General &Office ~~Point-of-Sale~~Equipment 181,~~938~~543 618.7433 4011,~~477~~892,~~181~~172 2210.1398 ~~General~~Computer ~~Office~~& ~~Equipment~~Point-of-Sale 29,~~369~~593 751.7279 189,~~729~~958,~~963~~070 109.2419 Automotive Diagnostic Equipment 21,~~065~~511 68.7316 139,~~563~~687,~~727~~370 78.4294 Computer Software 8568 0.2837 21,~~094~~436,~~267~~503 1.1433 Other(1) ~~290~~184 0.9599 21,~~047~~291,~~252~~930 1.1219 ----------- ----------~~---~~ ---------------~~-----~~ ---------~~------~~ Total 3018,~~675~~523 100.00 % ~~$ 182~~108,~~921~~340,~~285~~422 100.00 % =========== ==========~~===~~ ===============~~=====~~ =========~~======~~ (1) Includes $~~162~~117,~~496~~800 as the largest and $7,~~059~~021 as the average Required Payoff Amount.

CIT EQUIPMENT COLLATERAL 2001-1 REQUIRED PAYOFF AMOUNT AT DECEMBER 31, 2003 % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF REQUIRED PAYOFF AMOUNT CONTRACTS CONTRACTS AMOUNT AMOUNT ---------------------- --------- --------- ------ ------ 0.01 - 5,000.00 2414,~~295~~359 7977.2052 % ~~$ 32~~17,~~107~~846,~~866~~394 1716.~~55%~~47 5,000.01 - 10,000.00 21,~~867~~851 9.3599 1912,~~988~~883,~~886~~708 1011.9389 10,000.010 - 15,000.00 ~~1,039~~732 3.3995 129,~~684~~029,~~165~~312 68.9333 15,000.01 - 25,000.00 ~~1,113~~795 34.6329 2115,~~345~~237,~~454~~303 1114.6706 25,000.010 - 50,000.00 ~~818~~480 2.6759 2716,~~249~~648,~~543~~677 1415.9037 50,000.01 - 100,000.00 ~~360~~205 1.1711 2414,~~834~~097,~~619~~137 13.5801 100,000.01 - 150,000.00 7958 0.2631 97,~~359~~158,~~875~~292 56.1261 150,000.01 - 250,000.00 5923 0.1912 104,~~972~~470,~~436~~856 64.0013 250,000.01 - 500,000.00 3013 0.1007 104,~~349~~777,~~136~~697 54.6641 500,000.01 - 1,000,000.00 126 0.0403 83,~~289~~776,~~096~~295 43.5349 1,000,000.01 - 2,~~000~~414,~~000~~752.00 1 0.~~00 1,081,891 0.59 2,000,000.~~01 ~~- 3,000,000.00 (1)~~ 2 ~~0.01 4~~,~~658~~414,~~319~~752 2.5523 ---------- ---------- --------------~~-----~~ ---------~~-----~~ Total 3018,~~675~~523 100.00 % ~~$ 182~~108,~~921~~340,~~285~~422 100.00% ========== ========== ==============~~=====~~ =========~~=====~~

REMAINING TERM AT DECEMBER 31, 2003 % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF REMAINING TERMS OF CONTRACTS CONTRACTS CONTRACTS AMOUNT AMOUNT ----------------------~~------~~ ----------- --------- ------ ------ (~~MONTHS~~months) 0- 12 179,~~302~~453 5651.4003 % ~~$ 34~~13,~~848~~567,~~792~~973 1912.~~05%~~52 13- 24 7,~~561~~858 2442.6542 5476,~~220~~045,~~622~~931 2970.6419 25- 36 51,~~750~~185 186.7440 8714,~~357~~063,~~858~~977 4712.7698 37- 48 4722 0.1512 24,~~048~~049,~~198~~626 13.1274 49- 60 144 0.0502 4519,~~355,379~~719 20.3848 61- 72 1 0.0001 9093,~~436~~195 0.0509 -----------~~---~~ ----------~~-----~~ --------------~~-----~~ --------~~------~~ Total 3018,~~675~~523 100.00 % ~~$ 182~~108,~~921~~340,~~285~~422 100.00% ===========~~===~~ ==========~~=====~~ ==============~~=====~~ ========~~======~~

CIT EQUIPMENT COLLATERAL 2001-1 TYPES OF OBLIGOR AT DECEMBER 31, 2003 % OF TOTAL % OF NUMBER NUMBER REQUIRED REQUIRED OF OF PAYOFF PAYOFF TYPE OF OBLIGOR CONTRACTS CONTRACTS AMOUNT AMOUNT --------------- ----------- --------- ------ ------ Service Organizations(1) 117,~~446~~117 3738.3142 % $ 7145,~~297~~533,~~880~~873 3842.9803 % ~~Manufacturing~~Retail & Wholesale Trade 2,~~730~~465 813.9031 2514,~~829~~252,~~627~~163 1413.1215 ~~Retail~~Manufacturing ~~& Wholesale Trade 3~~1,~~781~~477 127.3397 2314,~~974~~076,~~508~~855 1312.1199 Financial Services Institutions 21,~~084~~268 6.7985 2313,~~348~~447,~~317~~407 12.7641 Other(2) 63,~~807~~947 2221.1931 136,~~747~~499,~~625~~699 76.5200 Transportation ~~904~~523 2.9582 95,~~652~~117,~~633~~034 54.2872 Medical/Healthcare Organizations ~~1,109~~672 3.6263 63,~~018~~881,~~926~~075 3.2958 Printing & Copy Centers ~~445~~268 1.45 42,~~575~~849,~~297~~162 2.5063 Construction ~~927~~539 32.0291 21,~~749~~677,~~212~~721 1.5055 ~~Government~~Resources, ~~153~~Farming & Fishing 158 0.5085 ~~761~~480,~~772~~385 0.4244 ~~Resources,~~Government ~~Farming~~83 ~~& Fishing 265~~ 0.8645 ~~746~~444,~~770~~576 0.41 Machine Tools 246 0.0803 ~~218~~80,~~719~~503 0.1207 ---------- ---------- --- ----------------- -------------- Total 3018,~~675~~523 100.00 % $~~182~~ 108,~~921~~340,~~285~~453 100.00 % ========== ========== === ================= ============== (1) Primarily Automotive Repair, Service & Parts (2022%), ~~Business~~Other ~~Services~~Service Organizations (2022%); ~~Other~~Business ~~Service~~Services ~~Organizations~~ (1917%); Engineering, Accounting & Research (1210%); and ~~Legal~~Lodging ~~Services~~ (6%). (2) Includes $~~176~~159,~~895~~950 as the largest Required Payoff Amount belonging to a single obligor. As shown in the table above, the servicer's records lists 76.5200% of the total required payoff amount in the category of "Other" types of obligor. The servicer notes that the collateral securing approximately 42.4463% of the required payoff amount represents small ticket computer equipment typically leased to small businesses. The remaining "Other" obligor category represents approximately 3.0837% 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 % OF ~~TOTAL~~ % OF NUMBER ~~NUMBER~~TOTAL REQUIRED REQUIRED OBLIGORS (INCLUDING CONTRACTS SECURING OF NUMBER OF PAYOFF PAYOFF VENDOR LOANS ) CONTRACTS ~~CONTACTS~~CONTRACTS AMOUNT AMOUNT ----------------- ----------- --------- ------ ------ Top 5 ~~377~~359 1.23% $ 1510,~~968~~435,~~082~~307 8.73% The Top 5 obligors conduct business in the Retail & Wholesale Trade, Manufacturing and Financial Services industries.

CIT EQUIPMENT COLLATERAL 2001-1 SCHEDULED PAYMENT AT DECEMBER 31, 2003 COLLECTION SCHEDULED COLLECTION SCHEDULED PERIOD CASHFLOWS PERIOD CASHFLOWS ------ --------- ------ --------- Positive Rent Due 32,~~350~~110,~~778~~965.5109 ~~July-2003 10,837,737.11 November-2005 1,345,673.55 August-2003 12,840,183.98 December-2005 789,964.56 September-2003 12,471,665.63~~ January-~~2006 421,947.83 October-2003 12,390,024.29 February-2006 235,804.66 November-2003 11,446,572.38 March-2006 194,082.24 December-2003 9,491,865.89 April-2006 170,217.11 January-~~2004 ~~8,368,537.09 May-2006 157,081.14 February-2004 7,130,178.66 June-2006 154,392.54 March-2004~~ 6,~~887~~323,~~265~~075.19 ~~July-2006 143,420.35 April-2004 6,863,356.31~~ August-2006 142,~~053~~250.0017 ~~May~~February-2004 6,~~819~~593,~~208~~050.0255 September-2006 130,331.62 ~~June~~March-2004 6,~~765~~427,~~034~~478.1223 October-2006 126,416.33 ~~July~~April-2004 6,~~491~~411,~~403~~658.7751 November-2006 119,927.35 ~~August~~May-2004 6,~~200~~400,~~450~~744.8944 December-2006 116,791.05 ~~September~~June-2004 6,~~100~~351,~~803~~042.8670 January-2007 135,791.34 ~~October~~July-2004 56,~~971~~087,~~348~~408.9158 February-2007 111,394.89 ~~November~~August-2004 65,~~016~~829,~~386~~290.0566 March-2007 104,399.92 ~~December~~September-2004 5,~~564~~732,~~696~~577.1310 April-2007 98,171.10 ~~January~~October-~~2005~~2004 5,~~253~~607,~~856~~904.3720 May-2007 98,171.10 ~~February~~November-~~2005~~2004 45,~~567~~662,~~883~~022.3032 June-2007 98,171.10 ~~March~~December-~~2005~~2004 45,~~304~~212,~~021~~302.6370 July-2007 97,559.32 ~~April~~January-2005 4,~~041~~923,~~587~~850.3876 August-2007 98,612.67 ~~May~~February-2005 34,~~780~~258,~~364~~742.5405 September-2007 88,599.00 ~~June~~March-2005 34,~~590~~020,~~643~~356.0232 October-2007 27,345.47 ~~July~~April-2005 3,~~359~~788,~~289~~205.6553 November-2007 12,392.64 ~~August~~May-2005 23,~~992~~545,~~994~~763.1214 December-2007 10,597.35 ~~September~~June-2005 23,~~496~~360,~~009~~354.3766 January-2008 31,358.24 July-2005 3,142,798.81 February-2008 - August-2005 2,880,618.99 September-2005 2,394,750.34 October-2005 1,~~863~~794,~~812~~026.8839 November-2005 1,304,602.97 December-2005 759,420.78 January-2006 407,984.39 February-2006 232,249.36 March-2006 193,170.04 April-2006 169,114.33 May-2006 157,423.26 June-2006 154,906.25 July-2006 143,934.06

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