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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 10, 2000
AMERIQUEST MORTGAGE SECURITIES INC.
(AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT,
DATED AS OF MAY 1, 2000, PROVIDING FOR THE ISSUANCE
OF FLOATING RATE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2000-1)
Ameriquest Mortgage Securities Inc.
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(Exact name of registrant as specified in its charter)
Delaware 333-94443 33-0885129
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
1100 Town & Country Road, Suite 1100
Orange, California 92868
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: (714) 541-9960
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Item 2. Acquisition or Disposition of Assets
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Description of the Certificates and the Mortgage Pool
On May 10, 2000, a single series of certificates, entitled
Ameriquest Mortgage Securities Inc., Floating Rate Mortgage Pass-Through
Certificates, Series 2000-1 (the "Certificates"), were issued pursuant to a
pooling and servicing agreement, dated as of May 1, 2000 (the "Agreement"),
attached hereto as Exhibit 4.1, among Ameriquest Mortgage Securities Inc. as
depositor (the "Depositor"), Ameriquest Mortgage Company ("Ameriquest") as
master servicer (in such capacity, the "Master Servicer") and Norwest Bank
Minnesota, National Association as trustee (the "Trustee"). The Certificates
consist of nine classes of certificates (collectively, the "Certificates"),
designated as the "Class A Certificates", the "Class M-1 Certificates", the
"Class M-2 Certificates", the "Class M-3 Certificates", the "Class CE
Certificates", the "Class P Certificates", the "Class R-I Certificates", the
"Class R-II Certificates" and the "Class R-III Certificates." The Certificates
evidence in the aggregate the entire beneficial ownership interest in a trust
fund (the "Trust Fund"), consisting primarily of a segregated pool (the
"Mortgage Pool") of conventional, one- to four- family, adjustable rate, first
lien mortgage loans having original terms to maturity not greater than 30 years
(the "Mortgage Loans"). The Mortgage Pool consists of Mortgage Loans having an
aggregate principal balance of $704,462,500 as of May 1, 2000 (the "Cut- off
Date"). The Mortgage Loans were purchased pursuant to the Mortgage Loan Purchase
Agreement (the "Purchase Agreement"), dated May 5, 2000, between Ameriquest
Mortgage Company and the Depositor. The Class A Certificates, the Class M-1
Certificates, Class M-2 Certificates, and the Class M-3 Certificates were sold
by the Depositor to Salomon Smith Barney Inc. (the "Underwriter"), pursuant to
an Underwriting Agreement, dated May 5, 2000, between the Depositor and the
Underwriter.
The Certificates, other than the Class CE Certificates, the
Class P Certificates, the Class R-1 Certificates, the Class R-II Certificates,
and the Class R-III Certificates and the Mortgage Loans are more particularly
described in the Prospectus, dated January 24, 2000 and the Prospectus
Supplement, dated May 5, 2000, as previously filed with the Securities and
Exchange Commission pursuant to Rule 424(b). The Class CE Certificates, Class P
Certificates, the Class R-1 Certificates, the Class R-II Certificates, and the
Class R-III Certificates have not been and will not be publicly offered by the
Depositor. Capitalized terms used but not otherwise defined herein shall have
the meanings assigned to them in the Prospectus Supplement.
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Initial Certificate
Class Principal Balance Pass-Through Rate
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A $563,569,000 Variable
M-1 $58,119,000 Variable
M-2 $31,700,000 Variable
M-3 $33,462,000 Variable
CE $17,612,400 Variable
P $100.00 Variable
R-I 100% Percentage Interest N/A
R-II 100% Percentage Interest N/A
R-III 100% Percentage Interest N/A
Item 7. Financial Statements and Exhibits
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(a) Not applicable
(b) Not applicable
(c) Exhibits
Exhibit No. Description
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4.1 Pooling and Servicing Agreement, dated as of May 1,
2000, by and among Ameriquest Mortgage Securities VII,
Inc. as Depositor, Ameriquest Mortgage Company as
Master Servicer and Norwest Bank Minnesota, National
Association as Trustee, relating to the Series 2000-1
Certificates.
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.
Dated: May 10, 2000
AMERIQUEST MORTGAGE SECURITIES INC.
By:/s/ John P. Grazer
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Name: John P. Grazer
Title: CFO
Index to Exhibits
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Exhibit No. Description
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4.1 Pooling and Servicing Agreement, dated as of May 1,
2000, by and among Ameriquest Mortgage Securities VII,
Inc. as Depositor, Ameriquest Mortgage Company as
Master Servicer and Norwest Bank Minnesota, National
Association as Trustee, relating to the Series 2000-1
Certificates.