8-K 1 jan_04-8k.txt CRIIMI MAE FINANCIAL CORP 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ----------- Date of Report (Date of earliest event reported): January 13, 2004 (January 2, 2004) ----------------------------------------- CRIIMI MAE FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Maryland 33-94694 52-1931369 (State of (Commission (IRS Employer incorporation) File Number) Identification No.) 11200 Rockville Pike, Rockville, Maryland 20852 ----------------------------------------- --------------- (Address of principal executive offices) (Zip Code) (301) 816-2300 ---------------------------------------------------------------- (Registrant's telephone number, including area code) ---------------------------------------------------------------- (Former name or former address, if changed since last report) Exhibit Index is on Page 4 2 Item 5. Other Events ------------ Attached hereto is the Report to Mortgage Certificateholders for the payment date January 2, 2004, concerning CRIIMI MAE Financial Corporation's 7.00% Collateralized Mortgage Obligations due January 1, 2033. Item 7. Financial Statements and Exhibits --------------------------------- Exhibit 20.1 CRIIMI MAE Financial Corporation 7.00% Collateralized Mortgage Obligations due January 1, 2033, Report to Mortgage Certificateholders dated January 2, 2004. 3 S I G N A T U R E Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CRIIMI MAE Financial Corporation January 13, 2004 /s/Cynthia O. Azzara ----------------- ----------------------------------- Cynthia O. Azzara Its: Executive Vice President and Chief Financial Officer 4 Index to Exhibits Exhibit No. Description Page ----------- ----------- ---- 20.1 CRIIMI MAE Financial 5 Corporation 7.00% Collateralized Mortgage Obligations due January 1, 2033, Report to Mortgage Certificate holders dated January 2, 2004 5 Exhibit 20.1 ------------ U.S. Bank U.S. Bank Corporate Trust Services Payment Date: January 2, 2004 Trustee's Report to Certificateholders Record Date: December 20, 2003 Contents Principal and Interest Details 6 Delinquency 7 Balance Information 6 Other Information 8 Supplemental Loan Level remittance and delinquency information 9 Report Sections Preparer --------------- -------- Distribution Date Statement Trustee U.S. Bank Information Delivery Vehicles ------------------------------------------ Web Site: http://www.usbank.com/abs For other information delivery requests: ct.information.delivery@usbank.com Deal-Specific Contacts ---------------------- Account Officer (trustee and paying agent questions): Daniel Scully (617) 603-6407 Account Administrator (analytics and collateral questions): Jason Soulia (617) 603-6437 Servicer CRIIMI MAE Karen Walter (301) 468-3194 Rating Agency Contacts ---------------------- Fitch IBCA, Inc. Moody's Investors Service One State Street Plaza 99 Church Street New York, New York 10004 New York, New York 10007 (212) 908-0500 (212) 553-0300 Standard & Poor's Rating Services 55 Water Street New York, New York 10041 (212) 438-2430 Disclaimer Notice ----------------- This report has been prepared by, or is based on information furnished to U.S. Bank Corporate Trust Services ("US Bank") by, one or more third parties (e.g. Servicers, Master Servicer, etc.) and U.S. Bank has not independently verified information received from or prepared by any such third party. U.S. Bank shall not and does not undertake responsibility for the accuracy, completeness, or sufficiency of this report or the information contained herein for any purpose, and U.S. Bank makes no representations or warranties with respect thereto. The information in this report is presented here with the approval of the Issuer solely as a convenience for the user, and should not be relied upon without further investigation by any user contemplating an investment decision with respect to the related securities. 6 CRIIMI MAE Financial Corporation 7.00% Collateralized July Mortgage Obligations Payment Date: January 2, 2004 Principal Distribution Detail

~~Principal Distribution Detail~~ Scheduled Principal FHA Insurance Realized Net Principal Principal Prepayments Proceeds Losses Distribution ------------- ----------------- ------------------ ------------ ---------------- FHA Mortgages $ 2322,~~326~~796.0769 $ 01,801,754.0072 $ 0.00 $ 0.00 $ 231,~~326~~824,551.0741 GNMA $ 44,~~348~~958.6054 $ 0.00 N/A $ 0.00 $ 44,~~348~~958.6054 Total $ 67,~~674~~755.6723 $ 01,801,754.0072 $ 0.00 $ 0.00 $ 671,~~674~~869,509.6795 Interest Distribution Detail Interest Net Int. Dist. Interest ~~Interest~~ Strip Incl. Prepay Amount Amount Penalty ---------------- ---------------- -------------------- FHA Mortgages $ 200,~~676~~800.5165 $ 18,~~733~~715.6126 $ ~~181~~182,~~942~~085.9039 GNMA $ 235,~~758~~172.9737 N/A $ 235,~~758~~172.9737 Total $ ~~436,~~435,973.4802 $ 18,~~733~~715.6126 $ 417,~~701~~257.8776 Interest Payable on Bonds Beginning Interest Interest Additional Balance Rate (Fixed) Payable Interest Payable ------------------- ------------------- -------------- ------------------- $ 55,~~833~~698,~~899~~082.9303 7.00% $~~325~~324,~~697~~905.7548 $ 0.00 Principal Balance of Collateral Actual Beginning Actual Principal Actual Ending Balance Payable Balance --------------------- --------------------- ------------------- FHA Mortgages $ 27,~~489~~442,~~767~~950.0225 $ 231,~~326~~824,551.0741 $ 2725,~~466~~618,~~440~~398.9584 GNMA $ 35,~~215~~126,~~769~~767.0693 $ 44,~~348~~958.6054 $ 35,~~171~~081,~~420~~809.4639 Total $ 62,~~705~~569,~~536~~718.0818 $ 671,~~674~~869,509.6795 $ 6260,~~637~~700,~~861~~208.4123 Principal Balance of Bonds Beginning Principal ~~Ending~~Additional Balance Payable ~~Balance~~Interest Payable --------------------- --------------------- ------------------------ $ 55,~~833~~698,~~899~~082.9303 $ 671,~~674~~869,509.6795 $ 5553,~~766~~828,~~225~~572.2608

7 CRIIMI MAE Financial Corporation 7.00% Collateralized July Mortgage Obligations Payment Date: January 2, 2004 Delinquent Mortgage Loans

~~Delinquent Mortgage Loans~~ One Month Two Months Three Months+ Foreclosures ----------------- ----------------- ----------------- ---------------- Number 0 0 20 0 Scheduled Ending Principal Balance $ 0.00 $ 0.00 ~~$ 66,730~~0.7000 $ 0.00 Actual Ending Principal Balance: $ 0.00 $ 0.00 ~~$ 66,730~~0.7000 $ 0.00 Delinquent Mortgage Loans Detail ~~Actual Stated~~ Months Loan ~~Principal~~Actual Stated Status of Delinquent Number Principal Balance Foreclosure --------------- --------------- --------------------- ----------------- ~~Assigned~~Number toN/A ~~HUD~~Scheduled ~~158925~~Ending $Principal ~~35,837.38~~Balance N/A ~~Assigned~~Actual toEnding ~~HUD~~Principal ~~158926~~Balance: ~~$ 30,893.32~~ N/A ~~$ 66,730.70~~ Liquidations Loan Nature of Final Recovery ~~FHA~~Status ~~Realized~~of Number Liquidation Determination ~~Proceeds~~Foreclosure ~~Loss~~------------ --------------- ------------------ ---------------- 8 CRIIMI MAE Financial Corporation 7.00% Collateralized July Mortgage Obligations Payment Date: January 2, 2004 P&I Advances Aggregate P&I Advances $0.00 Aggregate unreimbursed P&I Advances $0.00 Interest on P&I Advances paid to Master Servicer $0.00 Interest accrued on unreimbursed P&I Advances $0.00 Realized Losses Aggregate Realized Losses incurred $0.00 Fees Master Trustee Servicing Fee Fee ----------------- -------------- FHA Mortgages $ 1,143.46 $ 205.82 GNMA $ 1,463.62 $ 263.45 Total $ 2,607.08 $ 469.27

9 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: January 2, 2004

Scheduled Actual Maturity Note Net Pass-thru I/O Beginning Beginning Loan No. Property Name Date Rate Rate Rate Rate Balance Balance --------- ------------------ -------- ------- ------- --------- -------- -------------- -------------- 086-15001 Austin Hewitt House - II 01/01/31 9.500% 9.250% 9.191% 0.875% 226,~~379~~086.1113 226,~~379~~086.1113 086-43027 Austin Hewitt House ~~Expansion~~ 01/01/31 10.750% 10.500% 10.441% 1.500% 1,~~041~~040,~~148~~086.4213 1,~~041~~040,~~148~~086.4213 Expansion 117-43049 Bell Avenue Nursing ~~Home~~ 09/01/31 11.000% 10.580% 10.521% 2.455% 1,~~810~~809,~~334~~038.07 1,~~810~~809,~~334~~038.07 Home 072-43092 Centralia Fireside 10/01/32 9.125% 8.625% 8.566% 0.125% 35,837.38 35,837.38 072-43093 Centralia Friendship 11/01/32 9.000% 8.500% 8.441% 0.000% 30,893.32 30,893.32 052-43041 Devlin Manor 10/01/32 10.000% 9.950% 9.891% 1.200% 5,~~481~~476,~~667~~304.7786 5,~~481~~476,~~667~~304.7786 016-43064 Eastgate Nursing 07/01/33 9.625% 9.250% 9.191% 1.250% 1,~~736~~735,~~723~~024.2302 1,~~736~~735,~~723~~024.2302 083-10013 Guardian Court Apts 06/01/34 8.750% 8.625% 8.566% 2.000% 2,~~138~~136,~~780~~144.2108 2,~~138~~136,~~780~~144.2108 117-43048 Southern Oaks Nursing ~~Home~~ 01/01/31 11.000% 10.375% 10.316% 1.375% 2,~~363~~361,~~415~~117.1355 2,~~363~~361,~~415~~117.1355 Home 000-43043 Stoddard Baptist Nursing ~~Home~~ 03/01/27 8.000% 7.900% 7.841% 0.000% 8,~~683~~662,~~130~~058.3295 8,~~683~~662,~~130~~058.3295 Home 121-35818 Woodcreek Apartments 10/01/26 7.250% 7.125% 7.066% 0.000% 3,~~941~~930,~~457~~359.7747 3,~~941~~930,~~457~~359.7747 ------------- ------------- FHA Subtotal 11/23/28 9.03% 8.84% 8.78% 0.82% 27,~~489~~442,~~766~~949.7396 27,~~489~~442,~~766~~949.7396

10 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: January 2, 2004

Scheduled Actual Scheduled Actual Scheduled Actual Net P & I P & I Principal Principal Interest Interest Loan No. Property Name (Gross) (Net) Payment Payment Payment Payment -------- ------------- ------ --- ------ ------ --- --------- -- ---------- ----------- ------------- 086-15001 Austin Hewitt House - II 1,938.08 1,890.9298 ~~145~~148.9123 ~~145~~148.9123 1,~~745~~742.0175 1,~~745~~742.0175 086-43027 Austin Hewitt House ~~Expansion~~ 9,855.73 9,~~638~~639.8304 ~~528~~538.7829 ~~528~~538.7829 9,~~110~~100.0575 9,~~110~~100.0575 Expansion 117-43049 Bell Avenue Nursing ~~Home~~ 17,409.23 16,~~772~~776.5608 ~~811~~826.4539 ~~811~~826.4539 15,~~961~~949.1169 15,~~961~~949.1169 Home 072-43092 Centralia Fireside 22,822.81 0.00 0.00 0.00 257.58 0.00 072-43093 Centralia Friendship 21,974.50 0.00 0.00 0.00 218.83 0.00 052-43041 Devlin Manor 48,350.87 48,122.4971 2,~~670~~715.3302 2,~~670~~715.3302 45,~~452~~407.1669 45,~~452~~407.1669 016-43064 Eastgate Nursing 14,776.18 1413,~~233~~374.4514 ~~846~~0.2100 ~~846~~0.2100 13,~~387~~374.2414 13,~~387~~819.2495 083-10013 Guardian Court Apts 16,739.55 16,~~519~~517.2004 1,~~146~~163.7250 1,~~146~~163.7250 15,~~372~~353.4854 15,~~372~~353.4854 117-43048 Southern Oaks Nursing ~~Home~~ 22,808.19 21,~~577~~578.2444 1,~~143~~164.5561 1,~~143~~164.5561 20,~~433~~413.6983 20,~~433~~413.6983 000-43043 Stoddard Baptist Nursing ~~Home~~ 68,388.21 67,~~664~~666.6238 10,~~500~~641.6816 10,~~500~~641.6816 57,~~163~~025.9422 57,~~163~~025.9422 Home 121-35818 Woodcreek Apartments 29,345.41 28,~~934~~936.8500 5,~~532~~599.4449 5,~~532~~599.4449 23,~~402~~336.4151 23,~~402~~336.4151 ----------- ------------ ----------- ----------- ---------- ----------- FHA Subtotal 274,408.76 ~~225~~224,~~354~~500.1681 2322,~~326~~796.0769 2322,~~326~~796.0769 202,~~504~~180.5053 202,~~028~~149.0993

11 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: January 2, 2004

Paid in Interest WL/NIS Scheduled Actual Delinq. Full ~~Prepayment~~ Loan No. Property Name Strip Interest Ending Bal. Ending Bal. Status ~~Amount~~Amt. ~~Penalty~~ -------- ------------- --- ---------- ------------- ------------- ----------- --~~------~~ -------- ----------- 086-15001 Austin Hewitt House - II ~~165~~164.0785 1,~~579~~577.9489 ~~226~~225,~~233~~937.2090 ~~226~~225,~~233~~937.2090 086-43027 Austin Hewitt House ~~Expansion~~ 1,~~301~~300.4411 7,~~808~~800.6165 1,~~040~~039,~~619~~547.6484 1,~~040~~039,~~619~~547.6484 Expansion 117-43049 Bell Avenue Nursing ~~Home~~ 3,~~703~~700.6499 12,~~257~~248.4770 1,~~809~~808,~~522~~211.6268 1,~~809~~808,~~522~~211.6268 Home 072-43092 Centralia Fireside 0.00 0.00 ~~35,837~~0.3800 0.00 35,837.38 ~~Assigned to HUD~~ 072-43093 Centralia Friendship 0.00 0.00 ~~30,893~~0.3200 0.00 30,893.32 ~~Assigned to HUD~~ 052-43041 Devlin Manor 5,~~481~~476.6730 39,~~970~~931.4939 5,~~478~~473,~~997~~589.4484 5,~~478~~473,~~997~~589.4484 016-43064 Eastgate Nursing 1,~~809~~807.0932 1112,~~578~~012.1564 ~~1,735,877~~0.0200 0.00 1,735,~~877~~024.02 083-10013 Guardian Court Apts 3,~~564~~560.6324 11,~~807~~793.8530 2,~~137~~134,~~633~~980.4958 2,~~137~~134,~~633~~980.4958 117-43048 Southern Oaks Nursing ~~Home~~ 2,~~708~~705.0845 17,~~725~~708.6138 2,~~362~~359,~~271~~952.5894 2,~~362~~359,~~271~~952.5894 Home 000-43043 Stoddard Baptist Nursing ~~Home~~ 0.00 57,~~163~~025.9422 8,~~672~~651,~~629~~417.6479 8,~~672~~651,~~629~~417.6479 Home 121-35818 Woodcreek Apartments 0.00 23,~~402~~336.4151 3,~~935~~924,~~925~~759.3398 3,~~935~~924,~~925~~759.3398 --------- ---------- ------------- ------------- ------------- FHA Subtotal 18,~~733~~715.6126 183,~~294~~434.4867 2725,~~466~~618,~~440~~398.6655 2725,~~466~~618,~~440~~398.6655 1,801,754.72

12 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: January 2, 2004

Scheduled Actual Maturity Note Net Pass-thru I/O Beginning Beginning Loan No. Property Name Date Rate Rate Rate Rate Balance Balance -------- ----------------- ---------- ------ ------ --------- ---- -- ------------- ------------- 364007 Baptist Retirement System 06/15/18 8.250% 8.000% 7.941% 2,~~715~~699,~~581~~426.5404 2,~~715~~699,~~581~~426.5404 364008 Bellhaven Nursing Center 12/15/31 8.625% 8.375% 8.316% 13,~~675~~656,~~691~~600.3840 13,~~675~~656,~~691~~600.3840 385399 Capital Crossing Apts 05/15/21 7.980% 7.730% 7.671% 9,~~390~~349,~~719~~982.8314 9,~~390~~349,~~719~~982.8314 382271 Fox Hills Apartments 05/15/24 8.700% 8.250% 8.191% ~~902~~900,~~808~~180.6021 ~~902~~900,~~808~~180.6021 318504 Plaza Apartments 11/15/30 8.000% 7.750% 7.691% 1,~~223~~221,~~921~~801.5887 1,~~223~~221,~~921~~801.5887 400387 Regal Ridge Apartments 04/15/35 8.250% 8.000% 7.941% 4,~~308~~303,~~060~~274.3336 4,~~308~~303,~~060~~274.3336 365647 The Rebecca Apartments 03/15/34 8.500% 8.250% 8.191% 2,~~998~~995,~~983~~500.7081 2,~~998~~995,~~983~~500.7081 ------------- -------------- GNMA Subtotal 10/01/29 8.35% 8.09% 8.03% 0.00% 35,~~215~~126,~~766~~765.9683 35,~~215~~126,~~766~~765.9683 Total 05/01/29 8.65% 8.42% 8.36% 0.36% 62,~~705~~569,~~533~~715.6979 62,~~705~~569,~~533~~715.6979

13 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: January 2, 2004

Scheduled Actual Scheduled Actual Scheduled Actual Net P & I P & I Principal Principal Interest Interest Loan No. Property Name (Gross) (Net) Payment Payment Payment Payment -------- ------------- --- ------ ---- ---------- ----------- ----------- ------------ -------------- 364007 Baptist Retirement System 26,719.70 26,~~153~~157.9632 8,~~050~~161.0815 8,~~050~~161.0815 1817,~~103~~996.8817 1817,~~103~~996.8817 364008 Bellhaven Nursing Center 107,805.31 104,~~956~~960.2421 9,~~511~~648.3152 9,~~511~~648.3152 95,~~444~~311.9369 95,~~444~~311.9369 385399 Capital Crossing Apts 82,749.62 80,~~793~~801.2372 20,~~301~~572.3425 20,~~301~~572.3425 60,~~491~~229.8947 60,~~491~~229.8947 382271 Fox Hills Apartments 7,854.81 7,~~516~~517.2624 1,~~309~~328.4550 1,~~309~~328.4550 6,~~206~~188.8174 6,~~206~~188.8174 318504 Plaza Apartments 9,215.81 8,~~960~~961.8226 1,~~056~~070.3346 1,~~056~~070.3346 7,~~904~~890.4980 7,~~904~~890.4980 400387 Regal Ridge Apartments 32,002.70 31,~~105~~106.19 2,~~384~~417.7969 2,~~384~~417.7969 28,~~720~~688.4050 28,~~720~~688.4050 365647 The Rebecca Apartments 22,978.10 22,~~353~~354.3104 1,~~735~~759.3097 1,~~735~~759.3097 20,~~618~~594.0107 20,~~618~~594.0107 ----------- ----------- ----------- ----------- ----------- ----------- GNMA Subtotal 289,326.05 281,~~839~~857.0198 44,~~348~~958.6054 44,~~348~~958.6054 ~~237~~236,~~490~~899.4144 ~~237~~236,~~490~~899.4144 Total 563,734.81 ~~507~~506,~~193~~358.1779 67,~~674~~755.6723 67,~~674~~755.6723 439,~~994~~079.9197 439,~~518~~049.5037

14 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: January 2, 2004

Paid in Interest WL/NIS Scheduled Actual Delinq Full ~~Prepayment~~ Loan No. Property Name Strip Interest Ending ~~Balance~~Bal. Ending ~~Balance~~Bal. Status Amount ~~Penalty~~ -------- ------------- --- -------- ----------- -------------- --------------- ------- ----- ---------- 364007 Baptist Retirement System 2,~~707~~691,~~531~~264.4689 2,~~707~~691,~~531~~264.4689 364008 Bellhaven Nursing Center 13,~~666~~646,~~180~~951.0788 13,~~666~~646,~~180~~951.0788 385399 Capital Crossing Apts 9,~~370~~329,~~418~~409.4989 9,~~370~~329,~~418~~409.4989 382271 Fox Hills Apartments ~~901~~898,~~499~~851.1571 ~~901~~898,~~499~~851.1571 318504 Plaza Apartments 1,~~222~~220,~~865~~731.2541 1,~~222~~220,~~865~~731.2541 400387 Regal Ridge Apartments 4,~~305~~300,~~675~~856.5467 4,~~305~~300,~~675~~856.5467 365647 The Rebecca Apartments 2,~~997~~993,~~248~~740.4084 2,~~997~~993,~~248~~740.4084 ----------- ---~~--------~~ -------------- ~~--------------~~ GNMA Subtotal 35,~~171~~081,~~418~~807.3629 35,~~171~~081,~~418~~807.3629 Total 18,~~733~~715.6126 183,~~294~~434.4867 6260,~~637~~700,~~859~~205.0284 6760,~~637~~700,~~859~~205.0284 1,801,754.72

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