10-D 1 final_2007-02.txt 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-D ASSET-BACKED ISSUER DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the monthly distribution period from November 1, 2007 to November 30, 2007 Commission File Number of issuing entity: 333-132319-05 ----------------- CITICORP RESIDENTIAL MORTGAGE TRUST SERIES 2007-02 ------------------------------------------------------------------------ (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-132319 ---------------------- CITICORP RESIDENTIAL MORTGAGE SECURITIES, INC. ------------------------------------------------------------------------ (Exact name of depositor as specified in its charter) CITICORP TRUST BANK, FSB ------------------------------------------------------------------------- (Exact name of sponsor as specified in its charter) New York ----------------------------------------------------------------------------- (State or other jurisdiction of incorporation or organization of the issuing entity) 56-2666679 and 56-2666683 ---------------------------------------------------------------------------- (I.R.S. Employer Identification No.) 1000 Technology Drive, O'Fallon, Missouri 63368-2240 ---------------------------------------- ---------- (Address of principal executive offices of the issuing entity) (Zip Code) (636) 261-1300 ------------------------------------------------------------------------- (Telephone number, including area code) -------------------------------------------------------------------------- (Former name, former address. if changed since last report.) Registered/reporting pursuant to (check one) Title Name of exchange of Class Section 12(b) Section 12(g) Section 15(d) (if Section 12(b)) Class A-1a { } { } {X} _____________ Class A-1b { } { } {X} _____________ Class A-2 { } { } {X} _____________ Class A-3 { } { } {X} _____________ Class A-4 { } { } {X} _____________ Class A-5 { } { } {X} _____________ Class A-6 { } { } {X} _____________ Class M-1 { } { } {X} _____________ Class M-2 { } { } {X} _____________ Class M-3 { } { } {X} _____________ Class M-4 { } { } {X} _____________ Class M-5 { } { } {X} _____________ Class M-6 { } { } {X} _____________ Class M-7 { } { } {X} _____________ Class M-8 { } { } {X} _____________ Class M-9 { } { } {X} _____________ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes{X} No{ } 1 2 Part I - DISTRIBUTION INFORMATION Item 1. Distribution and Pool Performance Information On December 26, 2007 a distribution was made to holders of Citicorp Residential Mortgage Securities, Inc. REMIC Pass-Through Certificates, Series 2007-02 issued by Citicorp Residential Mortgage Trust Series 2007-02. The monthly distribution report is attached as an Exhibit to this Form 10-D. Please see Item 9(b), Exhibit 99.1. Part II - OTHER INFORMATION Item 7. Significant Enhancement Provider Information Not Applicable Item 9. Exhibits (a) The following are documents filed as part of this Form 10-D: (99.1) Monthly distribution report for the month of November 2007. (b) Exhibits required to be filed by Form 10-D and Item 601 of Regulation S-K: (4.1) Pooling and Servicing Agreement, dated as of June 01, 2007, among Citicorp Residential Mortgage Securities, Inc., CitiMortgage, Inc. U.S. Bank National Association, and Citibank, N.A. (incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K filed by the issuing entity with the Securities and Exchange Commission on July 13, 2007.) (10.1) Form of Mortgage Loan Purchase Agreement, dated June 01, 2007, between Citicorp Residential Mortgage Securities, Inc. and CitiMortgage, Inc. (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by the issuing entity with the Securities and Exchange Commission on July 13, 2007.) (99.1) Monthly distribution report for the month of November 2007. 2 3 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 thereunto duly authorized. CITICORP RESIDENTIAL MORTGAGE SECURITIES, INC. Depositor By: /s/ Cathy Johnson ------------------------- Cathy Johnson Assistant Vice President Dated: December 24, 2007 3 Exhibit No. Description ----------- ------------- (99.1) Monthly distribution report for the month of November 2007. 4 EXHIBIT 99.1 ------------- Citicorp Residential Mortgage Securities, Inc. Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CRMSI 2007-02 Payment Date: 12/26/2007 Issuer: Citicorp Residential Mortgage Securities, Inc. Record Date: See footnote Determination Date: 12/18/2007 Distribution Date: 26-Dec-07 Distribution #: 6 W.A.C. 8.05% Trustee U.S. Bank National Association Maryellen Hunter (617) 603-6401 Bond Administrator CitiMortgage, Inc. Trent Balke (636) 261-2103 Paying Agent: Citibank N.A. Nancy Forte (212) 816-5685

6 Citicorp Residential Mortgage Securities, Inc. Distribution Date Statement to Certificate Holders Remic Pass-Through Certificate Series Name: CRMSI 2007-02 Payment Date: 12/26/2007

7 Citicorp Residential Mortgage Securities, Inc. Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CRMSI 2007-02 Payment Date: 12/26/2007

8 Citicorp Residential Mortgage Securities, Inc. Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CRMSI 2007-02 Payment Date: 12/26/2007

9 Citicorp Residential Mortgage Securities, Inc. Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CRMSI 2007-02 Payment Date: 12/26/2007 --------------------Determined-by-the-OTS-Method- 30 - 59 days Delq 60+ days Book Value REO ----------------------------------------------------- Number 26 14 0 Amount $3,762,883.30 $2,626,975.68 $0.00 Stated Collateral Information ------------------------------- Service Fees Begin Balance Aggregate Adj Balance -------------------------------------------------------------------- $170,428.25 $839,921,499.60 $833,873,735.74 Advances ------------ Aggregate Amount of $336,950.30 Net Delinquency Advances Bi-Weekly Interest Advances and Net Simple Interest Advances Net Servicing Advances $466,245.86 Cumulative Nonrecoverable Advances $0.00 Other Information ------------------- Substitution Adjustment Amounts $0.00 Over Collateralization Summary --------------------------------- Target Over Collateralization Amount $26,323,403.57 Prior to Application of Excess Interest ----------------------------------------- Over Collateralization Amount $26,323,403.57 Deficiency Amount $0.00 Release Amount $0.00 Monthly Excess Interest $1,279,477.18 After Application of Excess Interest ------------------------------------- Over Collateralization Amount $26,323,403.57 Deficiency Amount $0.00 Trigger Test Calc % Trigger % Broken ? ------------------------------------------------------ Delinquencies 0.24 4.830 F Cum Losses 0.00 0.650 F A Credit Enhancement Level 14.85 28.900 Y Summary of Disbursements ------------------------- Withdrawals Remittances Residual and (Deposits) P&I Distributed ----------------------------------------------------------------- $11,280,879.48 $1,225,071.71 $0.00 $10,055,807.77 Citicorp Residential Mortgage Securities, Inc. Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CRMSI 2007-02 Payment Date: 12/26/2007 Loans repurchased in the current period: Loan Number Scheduled Principal Balance Pool/Group -------------------------------------------------------- No repurchases for this period TOTAL Citicorp Residential Mortgage Securities, Inc. Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CRMSI 2007-02 Payment Date: 12/26/2007 Loans Modified: NO MODIFICATIONS 10 Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CRMSI 2007-02 Payment Date: 12/26/2007 COLLATERAL INFORMATION: GENERAL INFORMATION: AT ISSUE BEGINNING ENDING WAC-SCHED BAL 8.05% 8.05% WAM 331 326 325 AVG LTV 79 79 79 AVG LOAN SIZE $165,401 $163,536 $162,993 # OF LOANS 5,218 5,136 5,116 ACTUAL BALANCE $863,062,412.17 $839,921,499.60 $833,873,735.74 SCHEDULED BALANCE $863,062,412.17 $839,921,499.60 $833,873,735.74 TYPE OF DWELLING UNIT: AT ISSUE CURRENT Single Family 85.56% Single Family 85.27% PUD 8.71% PUD 8.91% Condo 3.55% Condo 3.60% 2-4 Family 2.18% 2-4 Family 2.20% Other 0.00% Other 0.02% GEOGRAPHIC DISTRIBUTION: LTV DISTRIBUTION: AT ISSUE CURRENT AT ISSUE CURRENT CA 18% CA 18% 65% AND BELOW 21% 21% FL 7% FL 7% 65.01-75% 13% 13% NY 5% NY 5% 75.01-80% 11% 11% AZ 4% AZ 4% OVER 80% 55% 55% VA 4% VA 4% OTHER 62% OTHER 62% CREDIT ENHANCEMENT: AT ISSUE CURRENT SUBORDINATION 11.40% $98,390,000.00 11.80% $98,390,000.00 CUMULATIVE LOSS REDUCTION 0.01% $54,405.47 OVERCOLLATERALIZATION 3.05% $26,323,412.17 3.16% $26,323,403.57 PREPAYMENT INFORMATION: SCHEDULED PRINCIPAL: $0.00 PRINCIPAL PREPAYMENTS: $6,047,763.86 1 MONTH 3 MONTH 12 MONTH CUMULATIVE PRICING SPEED(PSA)See Prospectus PREPAYMENT HISTORY(CPR): 6.27% 5.67% 0.00% 4.62% DELINQUENCY (1)

(1) DETERMINED BY THE OTS METHOD. (2) DOES NOT INCLUDE REAL ESTATE OWNED BY THE TRUST. -------------------------------------------------------------------------------

Citicorp Residential Mortgage Trust Series 2007-2 10-D