8-K 1 feb_0204-8k.txt CMM FINANCIAL CORP 020204 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): February 10, 2004 (February 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 February 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 February 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 February 10, 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 February 2, 2004 5 Exhibit 20.1 ------------ U.S. Bank U.S. Bank Corporate Trust Services Payment Date: February 2, 2004 Trustee's Report to Certificateholders Record Date: January 30, 2004 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 Mortgage Obligations Payment Date: February 2, 2004 Principal Distribution Detail

Scheduled Principal FHA Insurance Realized Net Principal Principal Prepayments Proceeds Losses Distribution ------------- ----------------- ------------------ ------------ ---------------- FHA Mortgages $ 2219,~~796~~043.6988 $ 17,~~801~~833,~~754~~542.7278 $ 0.00 $ 0.00 $ 17,~~824~~852,~~551~~586.4166 GNMA $ 4445,~~958~~266.5466 $ 0.00 N/A $ 0.00 $ 4445,~~958~~266.5466 Total $ 6764,~~755~~310.2354 $ 17,~~801~~833,~~754~~542.7278 $ 0.00 $ 0.00 $ 17,~~869~~897,~~509~~853.9532 Interest Distribution Detail Interest Net Int. Dist. Interest Strip Incl. Prepay Amount Amount Penalty ---------------- ---------------- -------------------- FHA Mortgages $ ~~200~~208,~~800~~535.6515 $ 1816,~~715~~899.2648 $ ~~182~~191,~~085~~635.3967 GNMA $ ~~235~~234,~~172~~876.3706 N/A $ ~~235~~234,~~172~~876.3706 Total $ ~~435~~443,~~973~~411.0221 $ 1816,~~715~~899.2648 $ ~~417~~426,~~257~~511.7673 Interest Payable on Bonds Beginning Interest Interest Additional Balance Rate (Fixed) Payable Interest Payable ------------------- ------------------- -------------- ------------------- $ 5553,~~698~~828,~~082~~572.0308 7.00% $~~324~~314,~~905~~000.4800 $ 0.00 Principal Balance of Collateral Actual Beginning Actual Principal Actual Ending Balance Payable Balance --------------------- --------------------- ------------------- FHA Mortgages $ 2725,~~442~~618,~~950~~398.2551 $ 17,~~824~~852,~~551~~586.4166 $ 2517,~~618~~765,~~398~~811.8485 GNMA $ 35,~~126~~081,~~767~~809.9339 $ 4445,~~958~~266.5466 $ 35,~~081~~036,~~809~~542.3973 Total $ 6260,~~569~~700,~~718~~207.1890 $ 17,~~869~~897,~~509~~853.9532 $ 6052,~~700~~802,~~208~~354.2358 Principal Balance of Bonds Beginning Principal Additional Balance Payable Interest Payable --------------------- --------------------- ------------------------ $ 5553,~~698~~828,~~082~~572.0308 $ 17,~~869~~897,~~509~~853.9532 $ 5345,~~828~~930,~~572~~718.0876

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

One Month Two Months Three Months+ Foreclosures ----------------- ----------------- ----------------- ---------------- Number 0 0 0 0 Scheduled Ending Principal Balance $ 0.00 $ 0.00 0.00 $ 0.00 Actual Ending Principal Balance: $ 0.00 $ 0.00 0.00 $ 0.00 Delinquent Mortgage Loans Detail Months Loan Actual Stated Status of Delinquent Number Principal Balance Foreclosure --------------- --------------- --------------------- ----------------- Number N/A Scheduled Ending Principal Balance N/A Actual Ending Principal Balance: N/A Liquidations Loan Nature of Final Recovery Status of Number Liquidation Determination Foreclosure ------------ --------------- ------------------ ---------------- 8 CRIIMI MAE Financial Corporation 7.00% Collateralized ~~July~~ Mortgage Obligations Payment Date: ~~January~~February 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~~067.4643 $ ~~205~~192.8214 GNMA $ 1,~~463~~461.6274 $ 263.4511 Total $ 2,~~607~~529.0817 $ ~~469~~455.2725

9 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: February 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~~225,~~086~~937.1390 ~~226~~225,~~086~~937.1390 086-43027 Austin Hewitt House 01/01/31 10.750% 10.500% 10.441% 1.500% 1,~~040~~039,~~086~~547.1384 1,~~040~~039,~~086~~547.1384 Expansion 117-43049 Bell Avenue Nursing 09/01/31 11.000% 10.580% 10.521% 2.455% 1,~~809~~808,~~038~~211.0768 1,~~809~~808,~~038~~211.0768 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,~~476~~473,~~304~~589.8684 5,~~476~~473,~~304~~589.8684 ~~016-43064 Eastgate Nursing 07/01/33 9.625% 9.250% 9.191% 1.250% 1,735,024.02 1,735,024.02~~ 083-10013 Guardian Court Apts 06/01/34 8.750% 8.625% 8.566% 2.000% 2,~~136~~134,~~144~~980.0858 2,~~136~~134,~~144~~980.0858 117-43048 Southern Oaks Nursing 01/01/31 11.000% 10.375% 10.316% 1.375% 2,~~361~~359,~~117~~952.5594 2,~~361~~359,~~117~~952.5594 Home 000-43043 Stoddard Baptist Nursing 03/01/27 8.000% 7.900% 7.841% 0.000% 8,~~662~~651,~~058~~417.9579 8,~~662~~651,~~058~~417.9579 Home 121-35818 Woodcreek Apartments 10/01/26 7.250% 7.125% 7.066% 0.000% 3,~~930~~924,~~359~~759.4798 3,~~930~~924,~~359~~759.4798 ------------- ------------- FHA Subtotal 11/23/28 98.0399% 8.8481% 8.7876% 0.8279% 2725,~~442~~618,~~949~~398.9655 2725,~~442~~618,~~949~~398.9655

10 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: February 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~~891.9800 ~~148~~149.2340 ~~148~~149.2340 1,~~742~~741.7560 1,~~742~~741.7560 086-43027 Austin Hewitt House 9,855.73 9,639.0415 ~~538~~543.2911 ~~538~~543.2911 9,~~100~~096.7504 9,~~100~~096.7504 Expansion 117-43049 Bell Avenue Nursing 17,409.23 16,776.0837 ~~826~~833.3997 ~~826~~833.3997 15,~~949~~942.6940 15,~~949~~942.6940 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 ~~48,122.71 2,715.02 2,715.02~~ 45,~~407~~385.~~69 45,407.69 016-43064 Eastgate Nursing 14,776.~~18 ~~13,374.14~~ 0.00 0.00 1345,~~374~~385.1418 1345,~~819~~385.9518 083-10013 Guardian Court Apts 16,739.55 16,517.0415 1,~~163~~171.5098 1,~~163~~171.5098 15,~~353~~345.5417 15,~~353~~345.5417 117-43048 Southern Oaks Nursing 22,808.19 2120,~~578~~403.4476 ~~1,164~~0.6100 ~~1,164~~0.6100 20,~~413~~403.8376 2042,~~413~~025.8389 000-43043 Stoddard Baptist Nursing 68,388.21 67,~~666~~667.3827 10,~~641~~712.1610 10,~~641~~712.1610 5756,~~025~~955.2217 5756,~~025~~955.2217 Home 121-35818 Woodcreek Apartments 29,345.41 28,936.0058 5,~~599~~633.4932 5,~~599~~633.4932 23,~~336~~303.5126 23,~~336~~303.5126 ---------- ---------- --------- --------- ---------- ----------- FHA Subtotal ~~274~~214,~~408~~835.7627 ~~224~~207,~~500~~216.8147 2219,~~796~~043.6988 2219,~~796~~043.6988 ~~202~~188,~~180~~172.5359 ~~202~~209,~~149~~794.9372

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

Paid in Interest WL/NIS Scheduled Actual Delinq Full Loan No. Property Name Strip Interest Ending Bal. Ending Bal. Status Amt. -------- ---------------- -------- ----------- ------------- ------------- -------- ----------- 086-15001 Austin Hewitt House - II 164.8575 1,~~577~~576.8986 225,~~937~~788.9050 225,~~937~~788.9050 086-43027 Austin Hewitt House 1,~~300~~299.1143 7,~~800~~796.6561 1,039,~~547~~004.8473 1,039,~~547~~004.8473 Expansion 117-43049 Bell Avenue Nursing 3,~~700~~699.9930 12,~~248~~243.7010 1,~~808~~807,~~211~~377.6871 1,~~808~~807,~~211~~377.6871 Home ~~072-43092 Centralia Fireside 0.00 0.00 0.00 0.00 35,837.38 072-43093 Centralia Friendship 0.00 0.00 0.00 0.00 30,893.32~~ 052-43041 Devlin Manor 5,~~476~~473.3059 39,~~931~~911.3959 ~~5,473,589.84 5,473,589.84 016-43064 Eastgate Nursing 1,807.32 12,012.64~~ 0.00 0.00 15,~~735~~473,~~024~~589.0284 083-10013 Guardian Court Apts 3,~~560~~558.2430 11,~~793~~786.3087 2,~~134~~133,~~980~~808.5860 2,~~134~~133,~~980~~808.5860 117-43048 Southern Oaks Nursing 2,~~705~~704.4511 17,~~708~~699.3865 ~~2,359,952~~0.9400 0.00 2,359,952.94 Home 000-43043 Stoddard Baptist Nursing 0.00 5756,~~025~~955.2217 8,~~651~~640,~~417~~705.7969 8,~~651~~640,~~417~~705.7969 Home 121-35818 Woodcreek Apartments 0.00 23,~~336~~303.5126 3,~~924~~919,~~759~~126.9866 3,~~924~~919,~~759~~126.9866 --------- ---------- ------------- ------------- ------------- FHA Subtotal 1816,~~715~~899.2648 ~~183~~171,~~434~~273.6711 2517,~~618~~765,~~398~~811.5589 2517,~~618~~765,~~398~~811.5589 17,~~801~~833,~~754~~542.7278

12 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: February 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,~~699~~691,~~426~~264.0489 2,~~699~~691,~~426~~264.0489 364008 Bellhaven Nursing Center 12/15/31 8.625% 8.375% 8.316% 13,~~656~~646,~~600~~951.4088 13,~~656~~646,~~600~~951.4088 385399 Capital Crossing Apts 05/15/21 7.980% 7.730% 7.671% 9,~~349~~329,~~982~~409.1489 9,~~349~~329,~~982~~409.1489 382271 Fox Hills Apartments 05/15/24 8.700% 8.250% 8.191% ~~900~~898,~~180~~851.2171 ~~900~~898,~~180~~851.2171 318504 Plaza Apartments 11/15/30 8.000% 7.750% 7.691% 1,~~221~~220,~~801~~731.8741 1,~~221~~220,~~801~~731.8741 400387 Regal Ridge Apartments 04/15/35 8.250% 8.000% 7.941% 4,~~303~~300,~~274~~856.3667 4,~~303~~300,~~274~~856.3667 365647 The Rebecca Apartments 03/15/34 8.500% 8.250% 8.191% 2,~~995~~993,~~500~~740.8184 2,~~995~~993,~~500~~740.8184 ------------- ------------- GNMA Subtotal 10/01/29 8.35% 8.09% 8.03% 0.00% 35,~~126~~081,~~765~~807.8329 35,~~126~~081,~~765~~807.8329 Total 05/01/29 8.6562% 8.4240% 8.3634% 0.3633% 6260,~~569~~700,~~715~~205.7984 6260,~~569~~700,~~715~~205.7984

13 CRIIMI MAE FINANCIAL CORPORATION 7.00% Collateralized Mortgage Obligations Due 1/1/2033 Payment Date: February 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,~~157~~159.3202 8,~~161~~217.1525 8,~~161~~217.1525 17,~~996~~941.1777 17,~~996~~941.1777 364008 Bellhaven Nursing Center 107,805.31 104,~~960~~962.2122 9,~~648~~717.5287 9,~~648~~717.5287 95,~~311~~244.6935 95,~~311~~244.6935 385399 Capital Crossing Apts 82,749.62 80,~~801~~806.7200 20,~~572~~709.2505 20,~~572~~709.2505 60,~~229~~096.4795 60,~~229~~096.4795 382271 Fox Hills Apartments 7,854.81 7,517.2475 1,~~328~~338.5014 1,~~328~~338.5014 6,~~188~~179.7461 6,~~188~~179.7461 318504 Plaza Apartments 9,215.81 8,961.2649 1,~~070~~077.4660 1,~~070~~077.4660 7,~~890~~883.8089 7,~~890~~883.8089 400387 Regal Ridge Apartments 32,002.70 31,106.1969 2,~~417~~434.6931 2,~~417~~434.6931 28,~~688~~672.5038 28,~~688~~672.5038 365647 The Rebecca Apartments 22,978.10 22,354.0441 1,~~759~~772.9744 1,~~759~~772.9744 20,~~594~~581.0797 20,~~594~~581.0797 ---------- ----------- --------- --------- ---------- ---------- GNMA Subtotal 289,326.05 281,~~857~~867.9857 4445,~~958~~266.5466 4445,~~958~~266.5466 236,~~899~~600.4491 236,~~899~~600.4491 Total ~~563~~504,~~734~~161.8132 ~~506~~489,~~358~~084.7904 6764,~~755~~310.2354 6764,~~755~~310.2354 ~~439~~424,~~079~~773.9750 ~~439~~446,~~049~~395.3763

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

Paid in Interest WL/NIS Scheduled Actual Delinq Full Loan No. Property Name Strip Interest Ending Bal. Ending Bal. Status Amount -------- ---------------- -------- ----------- -------------- --------------- ------- ------------- 364007 Baptist Retirement System 2,~~691~~683,~~264~~047.8964 2,~~691~~683,~~264~~047.8964 364008 Bellhaven Nursing Center 13,~~646~~637,~~951~~234.8801 13,~~646~~637,~~951~~234.8801 385399 Capital Crossing Apts 9,~~329~~308,~~409~~700.8984 9,~~329~~308,~~409~~700.8984 382271 Fox Hills Apartments ~~898~~897,~~851~~513.7157 ~~898~~897,~~851~~513.7157 318504 Plaza Apartments 1,~~220~~219,~~731~~653.4181 1,~~220~~219,~~731~~653.4181 400387 Regal Ridge Apartments 4,~~300~~298,~~856~~422.6736 4,~~300~~298,~~856~~422.6736 365647 The Rebecca Apartments 2,~~993~~991,~~740~~968.8440 2,~~993~~991,~~740~~968.8440 -------------- -------------- GNMA Subtotal 35,~~081~~036,~~807~~540.2963 35,~~081~~036,~~807~~540.2963 Total 1816,~~715~~899.2648 ~~183~~171,~~434~~273.6711 6052,~~700~~802,~~205~~352.8452 6052,~~700~~802,~~205~~352.8452 17,~~801~~833,~~754~~542.7278

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