Exhibit 99.1
CONSECO FINANCE CORP.
CERTIFICATE REGARDING REPURCHASED CONTRACTS
The undersigned certifies that she is a Vice President and Treasurer of Conseco
Finance Corp., a Minnesota corporation (the "Company"), and that as such she is
duly authorized to execute and deliver this certificate on behalf o the Company
pursuant to Section 6.02 of the Pooling and Servicing Agreement (the
"Agreement") dated as of April 1, 2002 between the Company and U.S. Bank Trust
National Association, as Trustee of Home Equity Loan Trust 2002-B (all
capitalized terms used herein without definition having the respective meanings
specified in the Agreement), and further certifies that:
1. The contracts on the attached schedule are to be repurchased by the Company
on the date hereof pursuant to Sections 3.05 of the Agreement.
2. Upon deposit of the Repurchase Price for such Contracts, such Contracts
may, pursuant to Section 6.02 of the Agreement be assigned by the Trustee
to the Company.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 14th day of
November 2002.
CONSECO FINANCE CORP
BY: /s/ Cheryl A. Collins
-------------------------------------
Cheryl A. Collins
Vice President and Treasurer
CONSECO FINANCE CORP.
CERTIFICATE OF SERVICING OFFICER
The undersigned certifies that she is Vice President and Treasurer of Conseco
Finance Corp., a Minnesota corporation (the "Company"), and that as such she is
duly authorized to execute and deliver this certificate on behalf of the Company
pursuant to Section 6.02 of the Pooling and Servicing Agreement (the
"Agreement") dated as of October 1, 2001 between the Company and U S Bank Trust
(N.A), as Trustee of Home Equity Loan Trust 2002-B (all capitalized terms used
herein without definition having the respective meanings specified in the
Agreement), and further certifies that:
1. The Monthly Report for the period from October 1, 2002 to October 31 2002
attached to this certificate is complete and accurate in accordance with
the requirements of Sections 6.01 and 6.02 of the Agreement; and
2. As of the date hereof, no Event of Termination or event that with notice or
lapse of time or both would become an Event of Termination has occurred.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 14th day of
November 2002.
CONSECO FINANCE CORP.
BY: /s/ Cheryl A. Collins
-------------------------------------
Cheryl A. Collins
Vice President and Treasurer
CONSECO FINANCE CORPORATION (SELLER & SERVICER)
U.S. BANK NATIONAL ASSOCIATION (TRUSTEE)
HOME EQUITY CONTRACT PASS-THROUGH CERTIFICATES
SERIES 2002-B
TRUST ACCOUNT: 3340207-0
MONTHLY REMITTANCE REPORT: October, 2002
REMITTANCE DATE: 11/15/2002
Available Funds Principal Interest Total
- --------------- --------- -------- -----
Scheduled Monthly Payments Collected 161,453.43 1,887,510.25 2,048,963.68
Principal Prepayments 8,320,979.58 127,956.55 8,448,936.13
Proceeds on Liquidated Loans 0.00 0.00 0.00
Servicer Reimbursement of Pre-Liquidation Expenses 0.00 0.00 0.00
Servicer Reimbursement of Post-Liquidation Expenses 0.00 0.00 0.00
Servicer Advance for Delinquent Payments 20,629.64 346,125.59 366,755.23
Recovery of Prior Month's Servicer Advance -18,188.35 -322,888.80 -341,077.15
10-Day Roll Forward of Principal Collections 0.00 0.00 0.00
Recovery of Prior Month's 10-Day Roll Forward 0.00 0.00 0.00
Collection Account Earnings 0.00 9,353.52 9,353.52
Class M & B-1 Interest Deficiencies for current Remittance 0.00 0.00 0.00
Class M & B-1 Interest Deficiencies from prior Remittance 0.00 0.00 0.00
Amount Withdrawn from Reserve Funds 0.00 0.00 0.00
Other Adjustments to Available Funds 0.00 116,985.94 116,985.94
-------------------------------------------------------
Total Available Funds 8,484,874.30 2,165,043.05 10,649,917.35
=======================================================
Fees Payable
- ------------
Monthly Servicing Fee (0.5% of Pool Scheduled Principal Balance) 91,860.63
Back-up Servicing Fee (0.03% of Pool Scheduled Principal Balance) 5,511.64
Trustee Fee 0.00
Insurance Premium 0.00
Cap Provider Fee (payable May 2002 through October 2004) 24,083.00
---------------------
Total Fees 121,455.27
=====================
Amount Available for Principal and Interest Distribution (see page 2) 10,528,462.08
=====================
Formula Principal Distribution
- ------------------------------
Scheduled Principal Payments 234,167.71
Principal Prepayments (Payoffs and Curtailments) 8,338,072.57
Liquidated Loans 0.00
Repurchased / Substituted Contracts 0.00
10-Day Principal Roll Forward 0.00
Prior Month's 10-Day Roll Forward 0.00
---------------------
Total Formula Principal Distribution 8,572,240.28
=====================
Unpaid Class A Principal Shortfall as of Prior Month 0.00
Current Month Class M and B Liquidation Loss Distribution 0.00
Overcollateralization Principal Distribution (begins 05/15/2002) 623,264.94
---------------------
Total Additional Principal Distribution and Other Principal Distribution 623,264.94
=====================
Pool Scheduled Principal Balance 211,893,266.77
10-Day Adjusted Pool Principal Balance 211,893,266.77
Certificate Principal Balance (excluding IO Notional Principal Amount) 206,354,151.18
Overcollateralization Amount (Target:) 6,875,000.00 5,539,115.59
Total Outstanding Loan Count 2,912
Reserve Funds / Cash Deposits Previous Balance Deposits Withdrawals Ending Balance
- ----------------------------- ---------------- -------- ---------- --------------
Prefunded Account 0.00 0.00 0.00 0.00
Undelivered Account 0.00 0.00 0.00 0.00
Stage-Funded Reserve Fund 0.00 0.00 0.00 0.00
Basis Risk Reserve Fund 25,094.98 5,036.65 0.00 30,131.63
Yield Maintenance Reserve Fund 0.00 0.00 0.00 0.00
Non-Recoverable Pre-Liquidation Expenses Incurred: 0.00 Outstanding: 0.00
Non-Recoverable Post-Liquidation Expenses Incurred: 0.00 Outstanding: 0.00
CONSECO FINANCE CORPORATION (SELLER & SERVICER) Principal Allocation Percentage
U.S. BANK NATIONAL ASSOCIATION (TRUSTEE) -------------------------------
HOME EQUITY CONTRACT PASS-THROUGH CERTIFICATES Current Date Following Date
SERIES 2002-B ----------------------------------------------------
TRUST ACCOUNT: 3340207-0 Class A 100.00000000% 100.00000000%
MONTHLY REMITTANCE REPORT: October, 2002 Class M 0.00000000% 0.00000000%
REMITTANCE DATE: 11/15/2002 Class B 0.00000000% 0.00000000%
----------------------------------------------------
Total 100.00000000% 100.00000000%
----------------------------------------------------
Distributions
- -------------
Current Interest
Coupon Interest Shortfall Per $1000 Principal Per $1000 Ending
Class CUSIP Rate Payment Payment Original Payment Original Balance
- ---------------------------------------------------------------------------------------------------------------------------
A1 20847TBN0 2.03000% 105,844.16 0.00 1.11414905 9,195,505.22 96.79479179 51,354,151.18
A2 20847TBP5 5.31000% 314,175.00 0.00 4.42500000 0.00 0.00000000 71,000,000.00
A3 20847TBQ3 6.87000% 183,915.63 0.00 5.72500016 0.00 0.00000000 32,125,000.00
AIO 20847TBR1 7.25000% 494,812.50 0.00 6.04166667 0.00 0.00000000 81,900,000.00
M1 20847TBS9 3.55000% 53,496.53 0.00 3.05694457 0.00 0.00000000 17,500,000.00
M2 20847TBT7 4.30000% 57,855.90 0.00 3.70277760 0.00 0.00000000 15,625,000.00
B1 20847TBU4 7.05000% 64,502.60 0.00 6.07083294 0.00 0.00000000 10,625,000.00
B2 xxxxxxxxx 8.61852% 58,354.54 0.00 7.18209723 0.00 0.00000000 8,125,000.00
B3I xxxxxxxxx N/A 0.00 0.00 N/A 0.00 N/A N/A
C xxxxxxxxx N/A 0.00 0.00 N/A 0.00 N/A N/A
- ---------------------------------------------------------------------------------------------------------------------------
Totals 1,332,956.86 0.00 9,195,505.22 206,354,151.18
===========================================================================================================================
(table continues below)
Unpaid Unpaid
Pool Original Interest Principal
Class CUSIP Factor Balance Shortfall Shortfall
- --------------------------------------------------------------------------------
A1 20847TBN0 0.54057001 95,000,000.00 0.00 0.00
A2 20847TBP5 1.00000000 71,000,000.00 0.00 0.00
A3 20847TBQ3 1.00000000 32,125,000.00 0.00 0.00
AIO 20847TBR1 1.00000000 81,900,000.00 0.00 0.00
M1 20847TBS9 1.00000000 17,500,000.00 0.00 0.00
M2 20847TBT7 1.00000000 15,625,000.00 0.00 0.00
B1 20847TBU4 1.00000000 10,625,000.00 0.00 0.00
B2 xxxxxxxxx 1.00000000 8,125,000.00 0.00 0.00
B3I xxxxxxxxx N/A N/A 872,507.18 0.00
C xxxxxxxxx N/A N/A 0.00 0.00
- --------------------------------------------------------------------------------
Totals 0.825416605 250,000,000.00 872,507.18 0.00
================================================================================
Delinquency / Default Summary
- -----------------------------
Defaults 180 Day Defualt
Delinquencies 31-60 Days 61-90 Days 90-179 Days Total Extensions Incurred Inventory
- ------------------------------------------------------------------------------------------------------------------------------
Number of Loans 13 4 1 18 94 -1 1
Principal Balance 817,693.95 622,643.81 143,645.00 1,583,982.76 7,596,288.00 (119,866.56) 14,830.12
Percent of Total (#) 0.45% 0.14% 0.03% 0.62% 3.23% -0.03% 0.03%
Percent of Total ($) 0.39% 0.29% 0.07% 0.75% 3.58% -0.06% 0.01%
- ------------------------------------------------------------------------------------------------------------------------------
(table continues below)
Foreclosure REO Liquidations/ Liquidation
Delinquencies Inventory Inventory Charge-Offs Losses
- --------------------------------------------------------------------------------
Number of Loans 22 5.00 0 0
Principal Balance 1,754,552.40 785,856.38 0.00 0.00
Percent of Total (#) 0.76% 0.17% 0.00% 0.00%
Percent of Total ($) 0.83% 0.37% 0.00% 0.00%
- ---------------------------------------------------------------------------------
------------------------------
Cumulative (#): 1.00 1.00
Cumulative ($): 18,448.63 22,731.28
------------------------------
Distribution Tests Step Down Date: 5/15/2005
- ------------------ ---------------
Target Actual
- ----------------------------------------------------------------------------------------------
3 Month Average 60 Day Delinquency Ratio 8.24% 1.42%
(Shall not exceed 32% of the Sr. Enhancement %) ---- -----
Cumulative Realized Loss Ratio 0.01%
(target not to exceed 4.25% from 5/15/2005 to 4/15/2006,
5.75% from 5/15/2006 to 4/15/2007, 6.50% from 5/15/2007
to 4/15/2008 and 6.75% thereafter)
Class A Principal Balance Less than
or equal to
53.00% 75.93%
- ----------------------------------------------------------------------------------------------
Servicer Termination Tests
- --------------------------
Target Actual
- ----------------------------------------------------------------------------------------------
3 Month Average 60 Day Delinquency Ratio 10.88% 1.42%
(Shall not exceed 42.25% of the Sr. Enhancement %) ------
Cumulative Realized Loss Ratio 0.01%
(target not to exceed 7.25% from 5/15/2005 to 4/15/2006,
8.25% from 5/15/2006 to 4/15/2007, 8.75% from 5/15/2007
to 4/15/2008 and 9.00% thereafter)
- ----------------------------------------------------------------------------------------------
- ----------------------------------------
Sr. Enhance % 25.75952%
- ----------------------------------------
WAC 11.97288%
Net WAC Cap 11.31180%
- ----------------------------------------
WAM 307.47
- ----------------------------------------
U.S. Bank National Association Bondholder Services: 1-800-934-6802 page 2