Item 1. Business.
Ryan Mortgage Acceptance Corporation IV (the "Company") was incorporated in the State of Delaware on February 21, 1984, and is a wholly owned, limited purpose financing subsidiary of NVR Mortgage Finance, Inc. ("NVRMFI") which, in turn, is a wholly owned mortgage banking subsidiary of NVR, Inc. ("NVR").
The Company was organized to facilitate the financing of long-term residential mortgage loans and has never engaged in any business or investment activities other than issuing and selling Mortgage-Collateralized Bonds (the "Bonds") and bonds backed by mortgage loans or other types of mortgage-related securities and acquiring, owning, pledging and dealing with GNMA Certificates, FNMA Certificates, FHLMC Certificates, mortgage loans and other mortgage-related securities securing its bonds. The Company has not issued any bonds since 1988. The bonds currently outstanding at December 31, 2000, are callable at the Company's option on October 1, 2001.
The Company has no employees, but four persons who are full-time employees of NVR or NVRMFI or affiliates of NVR perform services from time to time on behalf of the Company.
Item 2.
Item 2. Properties.
The Company neither owns nor leases any buildings or real estate.
Item 3.
Item 3. Legal Proceedings.
The Company is not involved in any pending legal proceedings, nor is the Company aware of any proceedings contemplated by governmental authorities.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
Omitted pursuant to General Instruction I.
PART II
Item 5.
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.
There is no public market for the Company's common stock, all of the issued and outstanding shares of which are held by NVRMFI. The Company has never paid a cash dividend on its common stock.
Item 6.
Item 6. Selected Financial Data.
Omitted pursuant to General Instruction I.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Interest income for the year ended December 31, 2000 decreased $124 compared to the year ended December 31, 1999. This decrease was due to principal payments on mortgage-backed securities. Interest expense for the year ended December 31, 2000 decreased $112 compared to the year ended December 31, 1999. This decrease was due to redemption of bonds. No other revenue or expense items are deemed significant.
Other
The Financial Accounting Standards Board has issued Statement of Financial Accounting Standards ("SFAS") No. 133, "Accounting for Derivative Instruments and Hedging Activities." SFAS No. 133 requires all derivatives to
be recognized as either assets or liabilities on the balance sheet and be measured at fair value. Depending on the hedge designation, changes in such fair value will be recognized in either other comprehensive income or current earnings on the income statement. During June, 1999, the FASB issued SFAS No. 137, and in June 2000, the FASB issued SFAS No. 138, both of which provide additional guidance and amendments to SFAS No. 133. SFAS No. 133, as amended, is effective for all fiscal quarters of all fiscal years beginning after June 15, 2000, and is applicable to interim periods in the initial year of adoption. The Company does not believe that SFAS No. 133 will have any impact on its financial statements upon adoption.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosure About Market Risk.
Market risk is the risk of loss arising from adverse changes in market prices and interest rates. Though the Company faces and manages other types of risk, such as credit and liquidity risks, the Company's market risk arises from interest rate risk inherent in its financial instruments. Interest rate risk is the possibility that changes in interest rates will cause unfavorable changes in net income or in the value of interest rate-sensitive assets and liabilities. The Company has no market rate sensitive instruments held for trading purposes.
The Company is exposed to interest rate risk as it relates to its investment activities. The Company has issued and sold GNMA and FNMA Collateralized Bonds ("Bonds"), which are secured by GNMA and FNMA Mortgage Certificates ("Certificates"). The Company collects principal and interest on the Certificates and makes principal and interest payments to the holders of the Bonds (the "bond administration activities"). Subject to the terms of the Indenture pursuant to which the Bonds were issued, the Company has the option to redeem, in whole or in part, the Bonds at a date that is earlier than the stated maturity of the Bonds. The Company's Certificates are classified and held as available for sale securities.
Profitability of the Company may be directly affected by the levels of and fluctuations in interest rates, which affect the value of the Certificates held as available for sale. The profitability of the Company may be adversely affected during any period of rising interest rates. For example, a substantial or sustained increase in interest rates could adversely affect the value of the Certificates and the intrinsic value of the early redemption option of the respective Bonds. The Company's current risk management strategy involves the holding of the Certificates until the profitable early redemption of the Bonds becomes possible. In an environment of stable interest rates, the Company conducts its bond administration activities, which are not subject to significant market risk. Because of the uncertainty of the future level of interest rates, there can be no assurance that the Company will realize gains on the disposition of financial assets in the future.
The following table represents contractual balances of the Company's on balance sheet financial instruments in dollars at the expected maturity dates, as well as the fair values of those on balance sheet financial instruments, at December 31, 2000. The expected maturity categories take into consideration historical and anticipated prepayment speeds, as well as actual amortization of principal and does not take into consideration the reinvestment of cash or the refinancing of existing indebtedness. Because the Company has previously sold its Certificates at the early redemption call date and the options currently have intrinsic value, the Company has made the assumption that the portfolio of Certificates available for sale will mature at the respective call dates. Consequently, the Bonds are also assumed to mature at the respective call dates.
Item 8.
Item 8. Financial Statements and Supplementary Data.
INDEPENDENT AUDITORS' REPORT
The Board of Directors Ryan Mortgage Acceptance Corporation IV:
We have audited the accompanying balance sheets of Ryan Mortgage Acceptance Corporation IV as of December 31, 2000 and 1999 and the related statements of income, comprehensive income, retained earnings and accumulated other comprehensive income, and cash flows for each of the years in the three-year period ended December 31, 2000. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Ryan Mortgage Acceptance Corporation IV as of December 31, 2000 and 1999, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2000, in conformity with accounting principles generally accepted in the United States of America.
KPMG LLP
McLean, Virginia January 30, 2001
RYAN MORTGAGE ACCEPTANCE CORPORATION IV BALANCE SHEETS December 31, 2000 and 1999 (Dollar amounts in thousands, other than share data)
See accompanying notes to financial statements.
RYAN MORTGAGE ACCEPTANCE CORPORATION IV STATEMENTS OF INCOME, COMPREHENSIVE INCOME, RETAINED EARNINGS AND ACCUMULATED OTHER COMPREHENSIVE INCOME For the Years Ended December 31, 2000, 1999 and 1998 (Dollar amounts in thousands)
See accompanying notes to financial statements
RYAN MORTGAGE ACCEPTANCE CORPORATION IV STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2000, 1999 and 1998 (Dollar amounts in thousands)
See accompanying notes to financial statements.
RYAN MORTGAGE ACCEPTANCE CORPORATION IV NOTES TO FINANCIAL STATEMENTS For the Years Ended December 31, 2000, 1999 and 1998 (Dollar amounts in thousands)
(1) Incorporation and Principal Business Activity:
Ryan Mortgage Acceptance Corporation IV (the Company) is a wholly owned limited purpose financing subsidiary of NVR Mortgage Finance, Inc. (NVRMFI). NVRMFI is a wholly owned mortgage banking subsidiary of NVR, Inc. (NVR), the successor to NVR L.P. Ownership of the Company was transferred to NVRMFI from NVR Financial Services, Inc. (NVRFS) on September 30, 1998 as part of a plan of merger where NVRFS was merged into NVR.
The Company was organized to facilitate the financing of long-term mortgage loans and does not engage in any business or investment activities other than issuing and selling GNMA/FNMA-Collateralized Bonds, Mortgage-Collateralized Bonds and bonds backed by mortgage loans or other types of mortgage-related securities and acquiring, owning, holding, pledging and dealing with GNMA Certificates, FNMA Certificates, FHLMC Certificates, mortgage loans and other mortgage-related securities securing its bonds.
(2) Summary of Significant Accounting Policies:
In conjunction with the retirement of the Series 5 Bonds during the second quarter of 1996 and the sale of the related collateral, the Company reclassified its mortgage-backed securities as available-for-sale and accordingly such securities are carried at their fair value. The mortgage-backed securities available-for-sale held by the Company are GNMA and FNMA Certificates (Certificates) reflected on the accompanying balance sheet at their fair value as such certificates serve as collateral for the Company's GNMA and FNMA-Collateralized Bonds.
The Company is included in the consolidated federal income tax return of NVR and, therefore, entered into a tax allocation agreement with NVR. According to this agreement, the Company will make federal income tax payments to NVR in an amount equal to its share of the net federal income tax obligation of the entire NVR consolidated tax group based on the amount of the tax obligation of the Company on a "separate return" basis. Also, in the event the Company incurs a tax loss on a cumulative "separate return" basis for any year, the Company will be compensated for such tax loss only through a reduction in the payments it would be obligated to make as a result of taxable income in future years.
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
The amortization/accretion of deferred bond issue costs, net premium on mortgage-backed securities and bond discounts is based on the interest method considering actual prepayment experience on the mortgage-backed securities and estimates of future prepayments in accordance with Statements of Financial Accounting Standards No. 91 "Accounting for Nonrefundable Fees and Costs Associated with Originating or Acquiring Loans and Initial Direct Costs of Leases." Deferred bond issue costs, net premium on mortgage-backed securities and bond discounts are adjusted for differences that arise between estimated and actual prepayments to the amount that would have existed had the actual effective yield, based on actual prepayment speeds, been applied since their inception.
NOTES TO FINANCIAL STATEMENTS, Continued
(3) Receivables on Mortgage-Backed Securities:
Receivables on mortgage-backed securities represent amounts due for scheduled and unscheduled principal and interest payments for the months of December 2000 and 1999.
(4) Long-Term Debt:
Long-term debt at December 31, 2000 consists of the following series of Mortgage-Collateralized Bonds:
Series Class Rate% Principal Amount Stated Maturity ------ ----- ----- ---------------- --------------- 7 7-Z 9.40 $ 556 August 1, 2016 10 10-Z 9.45 1,455 October 1, 2016 11 11-Z 9.00 4,785 October 1, 2016 ----- 6,796 Less: Bonds pertaining to the sale to RMI as described below (2,011) Less: Discounts (92) -- $ 4,693 ========= On September 23, 1988, the Company sold the GNMA Certificates, FNMA Certificates and other collateral owned by the Company and pledged to secure the Company's GNMA/FNMA Collateralized Bonds, Series 1 and 2, and its Mortgage-Collateralized Bonds, Series 3, 4, 7, 10, 19 and 21 through 31, to RYMAC Mortgage Investment I, Inc. (RMI), a wholly owned subsidiary of RYMAC Mortgage Investment Corporation. Such collateral was sold to RMI subject to the lien of the Indenture dated as of May 1, 1984, as amended and supplemented (the Indenture), between the Company and The Bank of New York, as Trustee, pursuant to which such Bonds were issued, and subject to the rights of the Trustee and the Bondholders thereunder. RMI subsequently sold to INVG Government Securities Corp., succeeded in interest by INVG Mortgage Securities Corp. ("INVG"), subject to such lien and rights, the collateral securing the Company's Mortgage-Collateralized Bonds, Series 3 and 4. In addition, RMI subsequently sold, to Sperlinga Capital Inc. ("Sperlinga"), subject to such liens and rights, the collateral securing the Company's Mortgage-Collateralized Bonds, Series 7, 10 and 19. In accordance with FASB "Accounting for Transfers and Servicing of Financial Assets and Extinquishment of Liabilities 125", the assets, liabilities, interest income and interest expense relating to such Bonds are not shown on the balance sheet or the statement of operations of the Company.
Pursuant to the Indenture, interest is payable quarterly on the Bonds. If a series of Bonds includes a "Z" class, interest on the Bonds of such class will accrue (and be added to the principal of the Bonds of such class) and will not be payable until all Bonds of such series having an earlier stated maturity have been fully paid. Subject to the priorities among classes set forth below, the Company is obligated periodically, to the extent funds are available, to make pro rata principal payments on the Bonds. No payment of principal may be made on any Bond of any class of any series until each class of Bonds of such series having an earlier stated maturity has been fully paid.
The following table sets forth the classes or series of Bonds which are subject to redemption, in whole or in part, at the option of the Company and the first date on which the Company has the right to exercise its right to redeem such Bonds. In the case of series of Bonds with respect to which the Company has sold the underlying collateral subject to the lien of the Indenture, the Company has agreed to exercise such right only upon the request of the purchaser.
NOTES TO FINANCIAL STATEMENTS, Continued
Class or Series Date - --------------- ---- Class 7-Z Bonds August 1, 2001 Class 10-Z Bonds October 1, 2001 Class 11-Z Bonds October 1, 2001
(5) Sale of Mortgage-Backed Securities:
On September 23, 1988, the Company sold the GNMA Certificates, FNMA Certificates and other collateral owned by the Company and pledged to secure the Company's GNMA/FNMA Collateralized Bonds, Series 1 and 2, and its Mortgage-Collateralized Bonds, Series 3, 4, 7, 10, 19 and 21 through 31 to RMI. Such collateral was sold, subject to the lien of the Indenture and subject to the rights of the Trustee and the Bondholders thereunder, to RMI in exchange for cash and delivery of limited recourse promissory notes of RMI having payment terms the same as those of the respective classes of the related series of Bonds. RMI subsequently sold, subject to such lien and rights, the collateral securing the Company's Mortgage-Collateralized Bonds, Series 3, 4, 7, 10 and 19. In accordance with FASB 125, the assets, liabilities, interest income and interest expense relating to such Bonds are not shown on the balance sheet or the statement of operations of the Company.
Information related to the collateral owned by persons other than the Company and pledged to secure such Bonds as of December 31, 2000 is as follows:
Principal Balance of Receivables on Outstanding Mortgage- Mortgage- Principal Backed Funds Held Backed Balance Series Securities by Trustee Securities Class Of Bonds ------ ---------- ---------- ---------- ----- --------
7 $535 $ - $ 21 7-Z $556
10 1,448 - 7 10-Z 1,455 ------ ----- ---- ------ $1,983 $ - $ 28 $2,011 ====== ===== ==== ======
(6) Related Party Transactions:
Certificates were purchased by the Company from NVRFS at a price to yield the approximate weighted average yield of the bonds which they collateralize.
All amounts receivable/payable from/to affiliates bear interest at an intercompany rate determined by NVRMFI. All amounts payable to affiliates are subordinate to the Company's obligations to the holders of its Bonds.
Pursuant to an arrangement established in connection with the acquisition by NVR L.P. of Ryan Homes, Inc., the Company receives payments from, and makes payments to, NVRMFI in the form of an income maintenance allowance based upon profits or losses generated over the lives of bond series issued prior to June 23, 1987.
(7) Income Taxes:
The total income tax expense (recovery) for each of the years in the three year period ended December 31, 2000 was allocated as follows:
NOTES TO FINANCIAL STATEMENTS, Continued
The provision for income taxes attributable to operations for each of the years in the three year period ended December 31, 2000 consists of the following:
2000 1999 1998 ---- ---- ---- Current: Federal $ - $ - $ 96 State - - 14 ---- ---- ---- $ - $ - $110 ==== ==== ====
A reconciliation of income tax expense in the accompanying statements of income to the amount computed by applying the statutory Federal income tax rate to income before income taxes and extraordinary items for each of the years in the three year period ended December 31, 2000 is as follows:
2000 1999 1998 ---- ----- ----- Income taxes computed at the Federal statutory rate ..... $ - $ - $ 114 State income taxes, net of Federal income tax benefit ... - - 10 Other, net .............................................. - - (14) ---- ----- ----- $ - $ - $ 110 ==== ===== =====
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Omitted pursuant to General Instruction I.
Item 11.
Item 11. Executive Compensation.
Omitted pursuant to General Instruction I.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
Omitted pursuant to General Instruction I.
Item 13.
Item 13. Certain Relationships and Related Transactions.
Omitted pursuant to General Instruction I.
PART IV
Item 14.
Item 14. Exhibits, Financial Statements, Schedules and Reports on Form 8-K.
(1) Financial Statements. Balance Sheets as of December 31, 2000 and 1999................. 5 Statements of Income, Comprehensive Income, Retained Earnings and Accumulated Other Comprehensive Income for the years ended December 31, 2000, 1999 and 1998................................ 6 Statements of Cash Flows for the years ended December 31, 2000, 1999 and 1998................................ 7 Notes to Financial Statements...................................8-11 Independent Auditors' Report.................................... 4 (2) Schedules. All schedules are omitted because they are not applicable or the required information is shown in the financial statements or the notes thereto. (3) Exhibits.
Exhibit No. - -----------
3.1 Restated Certificate of Incorporation of the Company1 3.2 By-Laws of the Company2 3.2.1 Amendment to By-Laws of the Company adopted June 24, 19873 4.1 Indenture dated as of May 1, 1984 between the Company and Trustee4 4.1.1 First Supplemental Indenture to Indenture5 4.1.2 Second Supplemental Indenture to Indenture6 4.1.3 Third Supplemental Indenture to Indenture7 4.1.4 Fourth Supplemental Indenture to Indenture8 4.1.5 Fifth Supplemental Indenture to Indenture9 4.1.6 Sixth Supplemental Indenture to Indenture10
4.1.7 Seventh Supplemental Indenture to Indenture11 4.1.8 Eighth Supplemental Indenture to Indenture12 4.1.9 Ninth Supplemental Indenture to Indenture13 4.1.10 Tenth Supplemental Indenture to Indenture14 4.1.11 Eleventh Supplemental Indenture to Indenture15 4.2 Series 1 Supplement to Indenture16 4.2.1 First Supplemental Indenture to Series 1 Supplement17 4.2.2 Purchase Agreement with respect to collateral securing Series 1 Bonds18 4.3 Series 2 Supplement to Indenture19 4.3.1 First Supplemental Indenture to Series 2 Supplement20 4.3.2 Second Supplemental Indenture to Series 2 Supplement21 4.3.3 Purchase Agreement with respect to collateral securing Series 2 Bonds22 4.3.4 Third Supplemental Indenture to Series 2 Supplement23 4.4 Series 3 Supplement to Indenture24 4.4.1 First Supplemental Indenture to Series 3 Supplement25 4.4.2 Purchase Agreement with respect to collateral securing Series 3 Bonds26 4.5 Series 4 Supplement to Indenture27 4.5.1 First Supplemental Indenture to Series 4 Supplement28 4.5.2 Second Supplemental Indenture to Series 4 Supplement29 4.5.3 Third Supplemental Indenture to Series 4 Supplement30 4.5.4 Purchase Agreement with respect to collateral securing Series 4 Bonds31 4.6 Series 5 Supplement to Indenture32 4.6.1 First Supplemental Indenture to Series 5, 6, 7, 8, 9, 10 and 11 Supplements33 4.7 Series 6 Supplement to Indenture34 4.8 Series 7 Supplement to Indenture35 4.8.1 Second Supplemental Indenture to Series 7 Supplement36 4.8.2 Purchase Agreement with respect to collateral securing Series 7 Bonds37 4.9 Series 8 Supplement to Indenture38 4.10 Series 9 Supplement to Indenture39 4.11 Series 10 Supplement to Indenture40 4.11.1 Second Supplemental Indenture to Series 10 Supplement41 4.11.2 Purchase Agreement with respect to collateral securing Series 10 Bonds42 4.12 Series 11 Supplement to Indenture43 4.12.1 Second Supplemental Indenture to Series 11 Supplement44 4.13 Series 12 Supplement to Indenture45 4.14 Series 13 Supplement to Indenture46 4.15 Series 14 Supplement to Indenture47 4.16 Series 15 Supplement to Indenture48 4.17 Series 16 Supplement to Indenture49 4.18 Series 17 Supplement to Indenture50 4.19 Series 18 Supplement to Indenture51 4.20 Series 19 Supplement to Indenture52 4.20.1 First Supplemental Indenture to Series 19 Supplement53 4.20.2 Purchase Agreement with respect to collateral securing Series 19 Bonds54 4.21 Series 20 Supplement to Indenture55 4.22 Series 21 Supplement to Indenture56 4.22.1 First Supplemental Indenture to Series 21, 22, 23, 24 and 25 Supplements57 4.22.2 Second Supplemental Indenture to Series 21 Supplement58 4.22.3 Purchase Agreement with respect to collateral securing Series 21 Bonds59 4.23 Series 22 Supplement to Indenture60 4.23.1 First Supplemental Indenture to Series 22 Supplement61 4.23.2 Second Supplemental Indenture to Series 22 Supplement62 4.23.3 Purchase Agreement with respect to collateral securing Series 22 Bonds63 4.24 Series 23 Supplement to Indenture64
4.24.1 Second Supplemental Indenture to Series 23 Supplement65 4.24.2 Purchase Agreement with respect to collateral securing Series 23 Bonds66 4.25 Series 24 Supplement to Indenture67 4.25.1 Second Supplemental Indenture to Series 24 Supplement68 4.25.2 Purchase Agreement with respect to collateral securing Series 24 Bonds69 4.26 Series 25 Supplement to Indenture70 4.26.1 Second Supplemental Indenture to Series 25 Supplement71 4.26.2 Purchase Agreement with respect to collateral securing Series 25 Bonds72 4.27 Series 26 Supplement to Indenture73 4.27.1 First Supplemental Indenture to Series 26 Supplement74 4.27.2 Purchase Agreement with respect to collateral securing Series 26 Bonds75 4.28 Series 27 Supplement to Indenture76 4.28.1 First Supplemental Indenture to Series 27 Supplement77 4.28.2 Purchase Agreement with respect to collateral securing Series 27 Bonds78 4.29 Series 28 Supplement to Indenture79 4.29.1 First Supplemental Indenture to Series 28 Supplement80 4.29.2 Purchase Agreement with respect to collateral securing Series 28 Bonds81 4.30 Series 29 Supplement to Indenture82 4.30.1 First Supplemental Indenture to Series 29 Supplement83 4.30.2 Purchase Agreement with respect to collateral securing Series 29 Bonds84 4.31 Series 30 Supplement to Indenture85 4.31.1 First Supplemental Indenture to Series 30 Supplement86 4.31.2 Purchase Agreement with respect to collateral securing Series 30 Bonds87 4.32 Series 31 Supplement to Indenture88 4.32.1 First Supplemental Indenture to Series 31 Supplement89 4.32.2 Purchase Agreement with respect to collateral securing Series 31 Bonds90 4.33 Series 32 Supplement to Indenture91 4.34 Series 33 Supplement to Indenture92 4.35 First Amendment to Purchase Agreements93 4.36 Form of Guaranty Agreement with respect to Single-Family (Level Payment) Mortgage-Backed Certificates between GNMA Issuer and GNMA (GNMA I)94 4.37 Form of Guaranty Agreement with respect to Graduated Payment Mortgage-Backed Certificates between GNMA Issuer and GNMA (GNMA I)95 4.38 Contractual Provisions of Mortgage-Backed Securities Guide for GNMA II Program (Constituting the Guaranty Agreement for GNMA II Program)96 4.39 Form of FNMA Pool Purchase Contract97 4.40 Trust Indenture dated as of November 1, 1981, as amended, between FNMA in its corporate capacity and FNMA, as trustee ("FNMA Indenture")98 4.41 Sixth Supplemental Indenture dated as of May 1, 1985 to FNMA Indenture99 4.42 Agreement to Purchase Conventional Home Mortgages and to Sell Mortgage Participation Certificates between FHLMC and FHLMC Seller-Servicer100 4.43 Agreement to Guarantee Timely Payment of Scheduled Principal between FHLMC and FHLMC Seller-Servicer101 4.44 FHLMC Mortgage Participation Certificate Agreement102 4.45 Guaranty between the Mortgage Company and the Trustee103 4.46 Letter Agreement among RHI, the Mortgage Company and the Company104 10.1 Form of Participation Agreement105 10.2 Form of Funding Agreement106 10.3 Agreement among the Company, Mellon National Corporation ( "Mellon") and certain of Mellon's subsidiaries107 10.4 Form of Guaranteed Investment Contract108 23.1 Consent of KPMG LLP
1Incorporated by reference to Exhibit 3.1 filed with Post-Effective Amendment No. 1 to Registration Statement
No. 2-89611 on June 28, 1985. 2Incorporated by reference to Exhibit 3.2 filed with the Company's Form 10. 3Incorporated by reference to Exhibit 3.2.1 filed with the Company's Quarterly Report on Form 10-Q for period ended June 30, 1987. 4Incorporated by reference to Exhibit 4.1 filed with the Company's Current Report on Form 8-K on June 29, 1984. 5Incorporated by reference to Exhibit 4.4 filed with the Company's Annual Report on Form 10-K for the year ended December 31, 1984. 6Incorporated by reference to Exhibit 4.5 filed with the Company's Quarterly Report on Form 10-Q for the period ended March 31, 1985. 7Incorporated by reference to Exhibit 4.7 filed with the Company's Registration Statement No. 33-670 on October 4, 1985. 8Incorporated by reference to Exhibit 4.1 filed with the Company's Current Report on Form 8-K on May 2, 1986. 9Incorporated by reference to Exhibit 4.1 filed with the Company's Current Report on Form 8-K on July 21, 1986. 10Incorporated by reference to Exhibit 4.14 filed with the Company's Quarterly Report on Form 10-Q for the period ended June 30, 1986. 11Incorporated by reference to Exhibit 4.21 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1986. 12Incorporated by reference to Exhibit 4.33 filed with the Company's Quarterly Report on Form 10-Q for the period ended June 30, 1987. 13Incorporated by reference to Exhibit 4.4 filed with the Company's Current Report on Form 8-K on March 18, 1988. 14Incorporated by reference to Exhibit 4.19 filed with the Company's Current Report on Form 8-K on October 11, 1988. 15Incorporated by reference to Exhibit 4.1.11 filed with the Company's Annual Report on Form 10-K for the year ended December 31, 1989. 16Incorporated by reference to Exhibit 4.2 filed with the Company's Current Report on Form 8-K on June 29, 1984. 17Incorporated by reference to Exhibit 4.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 18Incorporated by reference to Exhibit 4.1.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 19Incorporated by reference to Exhibit 4.3 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1984. 20Incorporated by reference to Exhibit 4.6 filed with the Company's Quarterly Report on Form 10-Q for the period ended March 31, 1985. 21Incorporated by reference to Exhibit 4.2 filed with the Company's Current Report on Form 8-K on October 11, 1988. 22Incorporated by reference to Exhibit 4.2.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 23Incorporated by reference to Exhibit 4.3.4 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1993. 24Incorporated by reference to Exhibit 4.8.1 filed with Registration Statement No. 33-670 on October 4, 1985. 25Incorporated by reference to Exhibit 4.3 filed with the Company's Current Report on Form 8-K on October 11, 1988. 26Incorporated by reference to Exhibit 4.3.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 27Incorporated by reference to Exhibit 4.2 filed with the Company's Current Report on Form 8-K on May 2, 1986. 28Incorporated by reference to Exhibit 4.3 filed with the Company's Current Report on Form 8-K on May 2, 1986. 29Incorporated by reference to Exhibit 4.24 filed with Post-Effective Amendment No. 1 to Registration
Statement No. 33-8475 on January 21, 1987. 30Incorporated by reference to Exhibit 4.4 filed with the Company's Current Report on Form 8-K on October 11, 1988. 31Incorporated by reference to Exhibit 4.4.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 32Incorporated by reference to Exhibit 4.2 filed with the Company's Current Report on Form 8-K on July 21, 1986. 33Incorporated by reference to Exhibit 4.25 filed with Post-Effective Amendment No. 1 to Registration Statement No. 33-8475 on January 21, 1987. 34Incorporated by reference to Exhibit 4.15 filed with the Company's Quarterly Report on Form 10-Q for the period ended June 30, 1986. 35Incorporated by reference to Exhibit 4.16 filed with the Company's Quarterly Report on Form 10-Q for the period ended June 30, 1986. 36Incorporated by reference to Exhibit 4.5 filed with the Company's Current Report on Form 8-K on October 11, 1988. 37Incorporated by reference to Exhibit 4.5.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 38Incorporated by reference to Exhibit 4.17 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1986. 39Incorporated by reference to Exhibit 4.18 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1986. 40Incorporated by reference to Exhibit 4.19 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1986. 41Incorporated by reference to Exhibit 4.6 filed with the Company's Current Report on Form 8-K on October 11, 1988. 42Incorporated by reference to Exhibit 4.6.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 43Incorporated by reference to Exhibit 4.20 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1986. 44Incorporated by reference to Exhibit 4.25.1 filed with the Company's Annual Report on Form 10-K for the year ended December 31, 1986. 45Incorporated by reference to Exhibit 4.22 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1986. 46Incorporated by reference to Exhibit 4.23 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1986. 47Incorporated by reference to Exhibit 4.26 filed with Post-Effective Amendment No. 1 to Registration Statement No. 33-8475 on January 21, 1987. 48Incorporated by reference to Exhibit 4.27 filed with Post-Effective Amendment No. 1 to Registration Statement No. 33-8475 on January 21, 1987. 49Incorporated by reference to Exhibit 4.28 filed with Post-Effective Amendment No. 1 to Registration Statement No. 33-8475 on January 21, 1987. 50Incorporated by reference to Exhibit 4.29 filed with the Company's Annual Report on Form 10-K for the year ended December 31, 1986. 51Incorporated by reference to Exhibit 4.30 filed with the Company's Annual Report on Form 10-K for the year ended December 31, 1986. 52Incorporated by reference to Exhibit 4.31 filed with the Company's Quarterly Report on Form 10-Q for the period ended March 31, 1987. 53Incorporated by reference to Exhibit 4.7 filed with the Company's Current Report on Form 8-K on October 11, 1988. 54Incorporated by reference to Exhibit 4.7.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 55Incorporated by reference to Exhibit 4.32 filed with the Company's Quarterly Report on Form 10-Q for the period ended March 31, 1987. 56Incorporated by reference to Exhibit 4.34 filed with the Company's Quarterly Report on Form 10-Q for the
period ended June 30, 1987. 57Incorporated by reference to Exhibit 4.5 filed with the Company's Current Report on Form 8-K on March 18, 1988. 58Incorporated by reference to Exhibit 4.8 filed with the Company's Current Report on Form 8-K on October 11, 1988. 59Incorporated by reference to Exhibit 4.8.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 60Incorporated by reference to Exhibit 4.35 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1987. 61Incorporated by reference to Exhibit 4.36 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1987. 62Incorporated by reference to Exhibit 4.9 filed with the Company's Current Report on Form 8-K on October 11, 1988. 63Incorporated by reference to Exhibit 4.9.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 64Incorporated by reference to Exhibit 4.37 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1987. 65Incorporated by reference to Exhibit 4.10 filed with the Company's Current Report on Form 8-K on October 11, 1988. 66Incorporated by reference to Exhibit 4.10.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 67Incorporated by reference to Exhibit 4.38 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1987. 68Incorporated by reference to Exhibit 4.11 filed with the Company's Current Report on Form 8-K on October 11, 1988. 69Incorporated by reference to Exhibit 4.11.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 70Incorporated by reference to Exhibit 4.1 filed with the Company's Current Report on Form 8-K on March 18, 1988. 71Incorporated by reference to Exhibit 4.12 filed with the Company's Current Report on Form 8-K on October 11, 1988. 72Incorporated by reference to Exhibit 4.12.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 73Incorporated by reference to Exhibit 4.2 filed with the Company's Current Report on Form 8-K on March 18, 1988. 74Incorporated by reference to Exhibit 4.13 filed with the Company's Current Report on Form 8-K on October 11, 1988. 75Incorporated by reference to Exhibit 4.13.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 76Incorporated by reference to Exhibit 4.3 filed with the Company's Current Report on Form 8-K on March 18, 1988. 77Incorporated by reference to Exhibit 4.14 filed with the Company's Current Report on Form 8-K on October 11, 1988. 78Incorporated by reference to Exhibit 4.14.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 79Incorporated by reference to Exhibit 4.44 filed with the Company's Quarterly Report on Form 10-Q for the period ended March 31, 1988. 80Incorporated by reference to Exhibit 4.15 filed with the Company's Current Report on Form 8-K on October 11, 1988. 81Incorporated by reference to Exhibit 4.15.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 82Incorporated by reference to Exhibit 4.45 filed with the Company's Quarterly Report on Form 10-Q for the period ended June 30, 1988. 83Incorporated by reference to Exhibit 4.16 filed with the Company's Current Report on Form 8-K on October
11, 1988. 84Incorporated by reference to Exhibit 4.16.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 85Incorporated by reference to Exhibit 4.46 filed with the Company's Quarterly Report on Form 10-Q for the period ended June 30, 1988. 86Incorporated by reference to Exhibit 4.17 filed with the Company's Current Report on Form 8-K on October 11, 1988. 87Incorporated by reference to Exhibit 4.17.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 88Incorporated by reference to Exhibit 4.33 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1988. 89Incorporated by reference to Exhibit 4.18 filed with the Company's Current Report on Form 8-K on October 11, 1988. 90Incorporated by reference to Exhibit 4.18.1 filed with the Company's Current Report on Form 8-K on October 11, 1988. 91Incorporated by reference to Exhibit 4.34 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1988. 92Incorporated by reference to Exhibit 4.34 filed with the Company's Annual Report on Form 10-K for the year ended December 31, 1988. 93Incorporated by reference to Exhibit 4.35 filed with the Company's Quarterly Report on Form 10-Q for the period ended March 31, 1989. 94Incorporated by reference to Exhibit 4.3 filed with Registration Statement No. 2-89611 on February 23, 1984. 95Incorporated by reference to Exhibit 4.4 filed with Registration Statement No. 2-89611 on February 23, 1984. 96Incorporated by reference to Exhibit 4.5 filed with Registration Statement No. 2-89611 on February 23, 1984. 97Incorporated by reference to Exhibit 4.6 filed with Amendment No. 1 to Registration Statement No. 2-89611 on April 19, 1984. 98Incorporated by reference to Exhibit 4.9 filed with the Company's Annual Report on Form 10-K for the year ended December 31, 1984. 99Incorporated by reference to Exhibit 4.14 to Post-Effective Amendment No. 1 to Registration Statement No. 2-89611 on June 28, 1985. 100Incorporated by reference to Exhibit 4.15 to Post-Effective Amendment No. 1 to Registration Statement No. 2-89611 on June 28, 1985. 101Incorporated by reference to Exhibit 4.16 filed with Registration Statement No. 33-670 on October 4, 1985. 102Incorporated by reference to Exhibit 4.17 filed with Registration Statement No. 33-670 on October 4, 1985. 103Incorporated by reference to Exhibit 4.11 filed with the Company's Quarterly Report on Form 10-Q for the period ended June 30, 1984. 104Incorporated by reference to Exhibit 4.19 filed with Registration Statement No. 33-670 on October 4, 1985. 105Incorporated by reference to Exhibit 10.1 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1985. 106Incorporated by reference to Exhibit 10.2 filed with the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1985. 107Incorporated by reference to Exhibit 10.3 filed with Amendment No. 1 to Registration Statement No. 2-89611 on April 19, 1984. 108Incorporated by reference to Exhibit 10.4 filed with Registration Statement No. 33-670 on October 4, 1985.
(b) Reports on Form 8-K.
No report on Form 8-K was filed by the Company during the last quarter of 2000.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Date: March 28, 2001
RYAN MORTGAGE ACCEPTANCE CORPORATION IV
/S/ WILLIAM J. INMAN By William J. Inman, President
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
Signature
/S/ WILLIAM J. INMAN
William J. Inman
Title
(Principal Executive Officer)
Date
March 28, 2001
/S/ ROBERT W. HENLEY
Robert W. Henley
(Principal Financial and Accounting Officer)
March 28, 2001
/S/ PAUL C. SAVILLE
Paul C. Saville
Director March 28, 2001