CIT Equipment Trust 2001-1
Composition of Contract Pool
at June 30, 2002
Weighted Weighted Average
Current Average Average Required
Number Required Original Remaining Payoff
of Payoff Term Term Amount
Contracts Amount (Range) (Range) (Range)
--------- ------ ------- ------- -------
41,189 $402,394,546 48.5 months 28.1 months $9,769
(13 to 96 months) (0 to 79 months) ($0 to $3,296,045)
Type of Contract
at June 30, 2002
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Type of Contract Contracts Contracts Amount Amount
- ---------------- --------- --------- ------ ------
True Leases 31,645 76.83% $318,726,756 79.21%
Finance Leases 9,317 22.62 82,065,562 20.39
Loans and other financing arrangements 227 0.55 1,602,228 0.40
------ ------ ------------ ------
Total 41,189 100.00% $402,394,546 100.00%
====== ====== ============ ======
CIT Equipment Trust 2001-1
Geographical Distribution
(Based on obligor billing address)
at June 30, 2002
% of
Total % of
Number Number Required Required
of of Payoff Payoff
State Contracts Contracts Amount Amount
- ----- --------- --------- ------ ------
Alabama 414 1.01% $ 2,171,827 0.54%
Alaska 75 0.18 535,592 0.13
Arizona 823 2.00 8,543,731 2.12
Arkansas 224 0.54 1,179,939 0.29
California 5,329 12.94 38,954,635 9.68
Colorado 817 1.98 7,131,975 1.77
Connecticut 690 1.68 9,770,822 2.43
Delaware 446 1.08 3,345,148 0.83
District of Columbia 239 0.58 3,469,158 0.86
Florida 2,360 5.73 19,802,590 4.92
Georgia 1,500 3.64 20,078,126 4.99
Hawaii 26 0.06 135,629 0.03
Idaho 150 0.36 877,171 0.22
Illinois 912 2.21 17,901,792 4.45
Indiana 523 1.27 3,617,835 0.90
Iowa 296 0.72 3,896,802 0.97
Kansas 253 0.61 6,974,229 1.73
Kentucky 333 0.81 1,869,438 0.46
Louisiana 408 0.99 1,369,682 0.34
Maine 49 0.12 289,441 0.07
Maryland 930 2.26 6,979,771 1.73
Massachusetts 1,814 4.40 16,213,322 4.03
Michigan 1,274 3.09 13,004,846 3.23
Minnesota 714 1.73 7,194,293 1.79
Mississippi 225 0.55 1,925,510 0.48
Missouri 563 1.37 7,302,732 1.81
Montana 143 0.35 520,764 0.13
Nebraska 128 0.31 2,622,236 0.65
Nevada 221 0.54 1,384,369 0.34
New Hampshire 299 0.73 1,856,102 0.46
New Jersey 2,148 5.21 23,908,230 5.94
New Mexico 199 0.48 951,256 0.24
New York 4,240 10.29 49,001,577 12.18
North Carolina 1,098 2.67 10,195,235 2.53
North Dakota 33 0.08 695,822 0.17
Ohio 1,125 2.73 9,443,397 2.35
Oklahoma 357 0.87 2,816,380 0.70
Oregon 482 1.17 2,601,190 0.65
Pennsylvania 1,867 4.53 16,637,933 4.13
Rhode Island 147 0.36 1,023,916 0.25
South Carolina 404 0.98 3,584,360 0.89
South Dakota 47 0.11 663,179 0.16
Tennessee 782 1.90 5,946,820 1.48
Texas 3,187 7.74 34,138,740 8.48
Utah 184 0.45 2,084,911 0.52
Vermont 141 0.34 529,667 0.13
Virginia 1,076 2.61 12,858,406 3.20
Washington 843 2.05 7,169,891 1.78
West Virginia 112 0.27 880,695 0.22
Wisconsin 476 1.16 6,035,389 1.50
Wyoming 63 0.15 308,045 0.08
------ ------ ------------ ------
Total 41,189 100.00% $402,394,546 100.00%
====== ====== ============ ======
CIT Equipment Trust 2001-1
Payment Status
at June 30, 2002
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Days Delinquent Contracts Contracts Amount Amount
- --------------- --------- --------- ------ ------
Current, including 1 to 30 day
delinquent contracts 38,663 93.87% $381,557,280 94.82%
31-60 days delinquent 1,449 3.52 14,018,892 3.48
61-90 days delinquent 501 1.22 3,460,930 0.86
91-120 days delinquent 267 0.65 1,516,011 0.38
Over 120 days delinquent 309 0.75 1,841,433 0.46
------ ------ ------------ ------
Total 41,189 100.00% $402,394,546 100.00%
====== ====== ============ ======
Equipment Type
at June 30, 2002
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Type of Equipment Contracts Contracts Amount Amount
- ----------------- --------- --------- ------ ------
Telecommunications 7,962 19.33% $176,774,139 43.93%
Computer & Point-of-Sale 27,309 66.30 157,857,500 39.23
General Office Equipment 2,970 7.21 36,219,272 9.00
Automotive Diagnostic Equipment 2,498 6.06 22,731,412 5.65
Computer Software 98 0.24 4,718,168 1.17
Other(1) 352 0.85 4,094,056 1.02
------ ------ ------------ ------
Total 41,189 100.00% $402,394,546 100.00%
====== ====== ============ ======
(1) Includes $247,959 as the largest and $11,631 as the average Required
Payoff Amount
CIT Equipment Trust 2001-1
Required Payoff Amount
at June 30, 2002
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Required Payoff Amount Contracts Contracts Amount Amount
- ---------------------- --------- --------- ------ ------
0 - 5,000.00 28,452 69.08% $ 55,860,536 13.88%
5,000.01 - 10,000.00 5,730 13.91 40,289,587 10.01
10,000.01 - 15,000.00 2,119 5.14 25,874,446 6.43
15,000.01 - 25,000.00 1,859 4.51 35,960,447 8.94
25,000.01 - 50,000.00 1,781 4.32 62,002,368 15.41
50,000.01 - 100,000.00 743 1.80 51,367,776 12.77
100,000.01 - 150,000.00 233 0.57 28,291,018 7.03
150,000.01 - 250,000.00 141 0.34 26,274,763 6.53
250,000.01 - 500,000.00 81 0.20 27,524,376 6.84
500,000.01 - 1,000,000.00 36 0.09 24,013,753 5.97
1,000,000.01 - 1,500,000.00 7 0.02 8,470,385 2.10
1,500,000.01 - 2,500,000.00 5 0.01 10,265,265 2.55
2,500,000.01- 5,000,000.00(1) 2 0.00 6,199,825 1.54
------ ------ ------------ ------
Total 41,189 100.00% $402,394,546 100.00%
====== ====== ============ ======
(1) Includes $3,296,045 as the largest Required Payoff Amount.
Remaining Term
at June 30, 2002
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Remaining Terms of Contracts Contracts Contracts Amount Amount
- ---------------------------- --------- --------- ------ ------
(months)
0-12 7,539 18.30% $ 44,828,945 11.14%
13-24 19,114 46.41 121,108,243 30.10
25-36 8,291 20.13 96,112,871 23.89
37-48 6,182 15.01 132,202,210 32.85
49-60 48 0.12 2,658,834 0.66
61-72 14 0.03 5,377,958 1.34
73-84 1 0.00 105,484 0.03
------ ------ ------------ ------
Total 41,189 100.00% $402,394,546 100.00%
====== ====== ============ ======
CIT Equipment Trust 2001-1
Types of Obligor
at June 30, 2002
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Type of Obligor Contracts Contracts Amount Amount
- --------------- --------- --------- ------ ------
Service Organizations(1) 15,245 37.01% $156,503,866 38.89%
Manufacturing 4,042 9.81 65,191,399 16.20
Retail & Wholesale Trade 4,709 11.43 47,976,757 11.92
Financial Services Institutions 2,923 7.10 45,112,422 11.21
Other(2) 9,304 22.59 38,193,882 9.49
Transportation 1,205 2.93 18,720,865 4.65
Medical/Healthcare Organizations 1,398 3.39 12,175,798 3.03
Printing & Copy Centers 588 1.43 8,843,102 2.20
Construction 1,221 2.96 5,744,214 1.43
Government 200 0.49 2,022,327 0.50
Resources, Farming & Fishing 327 0.79 1,496,241 0.37
Machine Tools 27 0.07 413,673 0.10
------ ------ ------------ ------
Total 41,189 100.00% $402,394,546 100.00%
====== ====== ============ ======
(1) Primarily Business Services (43%); Other Service Organizations (17%);
Engineering, Accounting & Research (13%); Legal Services (6%); and
Communications (3%).
(2) Includes $361,234 as the largest Required Payoff Amount belonging to a
single obligor
As shown in the table above, the servicer's records list 9.49% of the total
required payoff amount in the category of "Other" obligor. The servicer notes
that the collateral securing approximately 8.43% of the required payoff amount
represents small ticket computer equipment typically leased to small businesses.
The remaining "Other" obligor category represents approximately 1.07% of the
required payoff amount. The servicer has not analyzed this category to determine
whether or not the contracts included in it could be grouped into some other
more specific type of obligor category.
Obligor Concentration
% of
Number Required Required
Obligors (including contracts of Payoff Payoff
securing vendor loans) Contracts Amount Amount
- ----------------------------- --------- ------ ------
Top 5 390 $28,300,027 7.03%
The industries in which the top 5 obligors conduct business are Retail and
Wholesale Trade, Service Organizations and Financial Services.
CIT Equipment Trust 2001-1
Scheduled Payment
at June 30, 2002
Collection Scheduled Collection Scheduled
Period Cashflows Period Cashflows
------ --------- ------ ---------
Positive Rent Due $ 6,331,385.18
July-2002 18,947,598.47 May-2005 $4,129,032.74
August-2002 21,440,428.01 June-2005 3,888,412.35
September-2002 20,687,441.61 July-2005 3,640,163.81
October-2002 22,230,087.14 August-2005 3,223,524.79
November-2002 19,983,770.49 September-2005 2,696,447.98
December-2002 18,176,843.62 October-2005 1,994,238.23
January-2003 17,432,346.66 November-2005 1,443,282.87
February-2003 16,133,161.86 December-2005 860,516.90
March-2003 15,517,936.71 January-2006 440,717.24
April-2003 15,782,200.84 February-2006 244,502.13
May-2003 15,280,716.13 March-2006 195,658.94
June-2003 14,682,591.87 April-2006 171,141.94
July-2003 14,705,864.43 May-2006 158,899.55
August-2003 14,171,969.85 June-2006 156,698.24
September-2003 13,616,778.13 July-2006 145,232.27
October-2003 13,468,359.00 August-2006 143,864.92
November-2003 12,414,965.57 September-2006 132,143.54
December-2003 10,310,320.44 October-2006 128,540.33
January-2004 9,081,127.19 November-2006 122,051.35
February-2004 7,726,542.89 December-2006 118,444.19
March-2004 7,458,501.03 January-2007 137,444.48
April-2004 7,432,640.07 February-2007 113,048.03
May-2004 7,388,889.51 March-2007 106,053.06
June-2004 7,317,149.51 April-2007 99,824.24
July-2004 7,035,575.24 May-2007 99,824.24
August-2004 6,733,627.36 June-2007 98,171.10
September-2004 6,578,391.56 July-2007 97,559.32
October-2004 6,464,591.81 August-2007 98,612.67
November-2004 6,500,464.07 September-2007 88,599.00
December-2004 6,012,451.99 October-2007 27,345.47
January-2005 5,680,637.48 November-2007 12,392.64
February-2005 4,961,418.63 December-2007 10,597.35
March-2005 4,680,367.61 January-2008 31,358.24
April-2005 4,414,574.54 February-2008 -