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UNITED STATES
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): April 25, 2000
IMPAC FUNDING CORPORATION
Mortgage Pass-Through Certificates, Series 2000-1 Trust
New York (governing law of 333-44209 Pending
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway 21044
Columbia, MD (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
Former name or former address, if changed since last report)
ITEM 5. Other Events
On April 25, 2000 a distribution was made to holders of IMPAC FUNDING
CORPORATION Mortgage Pass-Through Certificates, Series 2000-1 Trust
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of
Regulation S-K
Exhibit Number Description
Monthly report distributed to holders of
EX-99.1 Mortgage Pass Through Certificates,
Series 2000-1 Trust, relating to the April
25, 2000 distribution.
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 hereunto duly authorized.
IMPAC FUNDING CORPORATION
Mortgage Pass-Through Certificates, Series 2000-1 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 5/5/00
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass Through
Certificates, Series 2000-1 Trust, relating to the April 25, 2000
distribution.
<TABLE>
<CAPTION>
Impac Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
Record Date: 3/31/00
Distribution Date: 4/25/00
IMP Series: 2000-1
Contact: Customer Service - CTSLink
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
A1 45254TBU4 SEN 7.50000% 80,115,000.00 500,718.75 600,874.11
A2 45254TBV5 SEN 6.72000% 124,150,000.00 695,240.00 6,069.44
A3 45254TBW3 SEN 2.28000% 0.00 235,885.00 0.00
A4 45254TBX1 SEN 9.00000% 0.00 100,143.75 0.00
A5 45254TBY9 SEN 8.00000% 2,410,900.00 16,072.67 0.00
A6 45254TBZ6 SEN 9.00000% 0.00 2,009.08 0.00
A8 45254TCB8 SEN 8.15000% 25,000,000.00 169,791.67 0.00
A9 45254TCC6 SEN 7.90000% 19,000,000.00 125,083.33 0.00
A7 45254TCA0 SEN 9.00000% 0.00 35,125.00 0.00
A10 45254TCD4 SEN 0.00000% 2,418,208.00 0.00 4,993.83
A11 45254TCE2 SEN 9.00000% 0.00 108,114.97 0.00
RI 45254TCK8 SEN 9.00000% 100.00 0.75 100.00
RII 45254TCL6 SEN 9.00000% 100.00 0.76 100.00
M1 45254TCF9 MEZ 8.00000% 11,310,000.00 75,400.00 5,974.52
M2 45254TCH5 MEZ 8.15000% 4,965,000.00 33,720.63 2,622.77
MX 45254TCG7 MEZ 9.00000% 0.00 12,941.87 0.00
M3 45254TCJ1 MEZ 9.00000% 2,345,000.00 17,587.50 1,238.75
B1 45254TCM4 SUB 9.00000% 1,655,000.00 12,412.50 874.26
B2 45254TCN2 SUB 9.00000% 690,000.00 5,175.00 364.49
B3 45254TCP7 SUB 9.00000% 1,793,169.15 13,448.77 947.24
Totals 275,852,477.15 2,158,872.00 624,159.41
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
A1 0.00 79,514,125.89 1,101,592.86 0.00
A2 0.00 124,143,930.56 701,309.44 0.00
A3 0.00 0.00 235,885.00 0.00
A4 0.00 0.00 100,143.75 0.00
A5 0.00 2,410,900.00 16,072.67 0.00
A6 0.00 0.00 2,009.08 0.00
A8 0.00 25,000,000.00 169,791.67 0.00
A9 0.00 19,000,000.00 125,083.33 0.00
A7 0.00 0.00 35,125.00 0.00
A10 0.00 2,413,214.17 4,993.83 0.00
A11 0.00 0.00 108,114.97 0.00
RI 0.00 0.00 100.75 0.00
RII 0.00 0.00 100.76 0.00
M1 0.00 11,304,025.48 81,374.52 0.00
M2 0.00 4,962,377.23 36,343.40 0.00
MX 0.00 0.00 12,941.87 0.00
M3 0.00 2,343,761.25 18,826.25 0.00
B1 0.00 1,654,125.74 13,286.76 0.00
B2 0.00 689,635.51 5,539.49 0.00
B3 0.00 1,792,221.91 14,396.01 0.00
Totals 0.00 275,228,317.74 2,783,031.41 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
A1 80,115,000.00 80,115,000.00 131,052.61 469,821.49 0.00 0.00
A2 124,150,000.00 124,150,000.00 1,323.76 4,745.67 0.00 0.00
A3 0.00 0.00 0.00 0.00 0.00 0.00
A4 0.00 0.00 0.00 0.00 0.00 0.00
A5 2,410,900.00 2,410,900.00 0.00 0.00 0.00 0.00
A6 0.00 0.00 0.00 0.00 0.00 0.00
A8 25,000,000.00 25,000,000.00 0.00 0.00 0.00 0.00
A9 19,000,000.00 19,000,000.00 0.00 0.00 0.00 0.00
A7 0.00 0.00 0.00 0.00 0.00 0.00
A10 2,418,208.00 2,418,208.00 2,087.39 2,906.44 0.00 0.00
A11 0.00 0.00 0.00 0.00 0.00 0.00
RI 100.00 100.00 21.81 78.19 0.00 0.00
RII 100.00 100.00 21.81 78.19 0.00 0.00
M1 11,310,000.00 11,310,000.00 5,974.52 0.00 0.00 0.00
M2 4,965,000.00 4,965,000.00 2,622.77 0.00 0.00 0.00
MX 0.00 0.00 0.00 0.00 0.00 0.00
M3 2,345,000.00 2,345,000.00 1,238.75 0.00 0.00 0.00
B1 1,655,000.00 1,655,000.00 874.26 0.00 0.00 0.00
B2 690,000.00 690,000.00 364.49 0.00 0.00 0.00
B3 1,793,169.15 1,793,169.15 947.24 0.00 0.00 0.00
Totals 275,852,477.15 275,852,477.15 146,529.41 477,629.98 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
A1 600,874.11 79,514,125.89 0.99249986 600,874.11
A2 6,069.44 124,143,930.56 0.99995111 6,069.44
A3 0.00 0.00 0.00000000 0.00
A4 0.00 0.00 0.00000000 0.00
A5 0.00 2,410,900.00 1.00000000 0.00
A6 0.00 0.00 0.00000000 0.00
A8 0.00 25,000,000.00 1.00000000 0.00
A9 0.00 19,000,000.00 1.00000000 0.00
A7 0.00 0.00 0.00000000 0.00
A10 4,993.83 2,413,214.17 0.99793490 4,993.83
A11 0.00 0.00 0.00000000 0.00
RI 100.00 0.00 0.00000000 100.00
RII 100.00 0.00 0.00000000 100.00
M1 5,974.52 11,304,025.48 0.99947175 5,974.52
M2 2,622.77 4,962,377.23 0.99947175 2,622.77
MX 0.00 0.00 0.00000000 0.00
M3 1,238.75 2,343,761.25 0.99947175 1,238.75
B1 874.26 1,654,125.74 0.99947175 874.26
B2 364.49 689,635.51 0.99947175 364.49
B3 947.24 1,792,221.91 0.99947175 947.24
Totals 624,159.41 275,228,317.74 0.99773734 624,159.41
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
A1 80,115,000.00 1000.00000000 1.63580615 5.86433864 0.00000000
A2 124,150,000.00 1000.00000000 0.01066259 0.03822529 0.00000000
A3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A4 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A5 2,410,900.00 1000.00000000 0.00000000 0.00000000 0.00000000
A6 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A8 25,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A9 19,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A7 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A10 2,418,208.00 1000.00000000 0.86319705 1.20189827 0.00000000
A11 0.00 0.00000000 0.00000000 0.00000000 0.00000000
RI 100.00 1000.00000000 218.10000000 781.90000000 0.00000000
RII 100.00 1000.00000000 218.10000000 781.90000000 0.00000000
M1 11,310,000.00 1000.00000000 0.52825111 0.00000000 0.00000000
M2 4,965,000.00 1000.00000000 0.52825176 0.00000000 0.00000000
MX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
M3 2,345,000.00 1000.00000000 0.52825160 0.00000000 0.00000000
B1 1,655,000.00 1000.00000000 0.52825378 0.00000000 0.00000000
B2 690,000.00 1000.00000000 0.52824638 0.00000000 0.00000000
B3 1,793,169.15 1000.00000000 0.52824911 0.00000000 0.00000000
<FN>
(2) All Classes are per $1,000 denominations.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
A1 0.00000000 7.50014492 992.49985508 0.99249986 7.50014492
A2 0.00000000 0.04888796 999.95111204 0.99995111 0.04888796
A3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A6 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A7 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A10 0.00000000 2.06509531 997.93490469 0.99793490 2.06509531
A11 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
RI 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000
RII 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000
M1 0.00000000 0.52825111 999.47174889 0.99947175 0.52825111
M2 0.00000000 0.52825176 999.47174824 0.99947175 0.52825176
MX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M3 0.00000000 0.52825160 999.47174840 0.99947175 0.52825160
B1 0.00000000 0.52825378 999.47174622 0.99947175 0.52825378
B2 0.00000000 0.52824638 999.47175362 0.99947175 0.52824638
B3 0.00000000 0.52824911 999.47175089 0.99947175 0.52824911
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A1 80,115,000.00 7.50000% 80,115,000.00 500,718.75 0.00 0.00
A2 124,150,000.00 6.72000% 124,150,000.00 695,240.00 0.00 0.00
A3 0.00 2.28000% 124,150,000.00 235,885.00 0.00 0.00
A4 0.00 9.00000% 13,352,500.00 100,143.75 0.00 0.00
A5 2,410,900.00 8.00000% 2,410,900.00 16,072.67 0.00 0.00
A6 0.00 9.00000% 267,877.00 2,009.08 0.00 0.00
A8 25,000,000.00 8.15000% 25,000,000.00 169,791.67 0.00 0.00
A9 19,000,000.00 7.90000% 19,000,000.00 125,083.33 0.00 0.00
A7 0.00 9.00000% 4,683,333.00 35,125.00 0.00 0.00
A10 2,418,208.00 0.00000% 2,418,208.00 0.00 0.00 0.00
A11 0.00 9.00000% 14,415,329.08 108,114.97 0.00 0.00
RI 100.00 9.00000% 100.00 0.75 0.00 0.00
RII 100.00 9.00000% 100.00 0.75 0.00 0.00
M1 11,310,000.00 8.00000% 11,310,000.00 75,400.00 0.00 0.00
M2 4,965,000.00 8.15000% 4,965,000.00 33,720.63 0.00 0.00
MX 0.00 9.00000% 1,725,583.00 12,941.87 0.00 0.00
M3 2,345,000.00 9.00000% 2,345,000.00 17,587.50 0.00 0.00
B1 1,655,000.00 9.00000% 1,655,000.00 12,412.50 0.00 0.00
B2 690,000.00 9.00000% 690,000.00 5,175.00 0.00 0.00
B3 1,793,169.15 9.00000% 1,793,169.15 13,448.77 0.00 0.00
Totals 275,852,477.15 2,158,871.99 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A1 0.00 0.00 500,718.75 0.00 79,514,125.89
A2 0.00 0.00 695,240.00 0.00 124,143,930.56
A3 0.00 0.00 235,885.00 0.00 124,143,930.56
A4 0.00 0.00 100,143.75 0.00 13,252,354.32
A5 0.00 0.00 16,072.67 0.00 2,410,900.00
A6 0.00 0.00 2,009.08 0.00 267,877.78
A8 0.00 0.00 169,791.67 0.00 25,000,000.00
A9 0.00 0.00 125,083.33 0.00 19,000,000.00
A7 0.00 0.00 35,125.00 0.00 4,683,333.33
A10 0.00 0.00 0.00 0.00 2,413,214.17
A11 0.00 0.00 108,114.97 0.00 14,387,864.47
RI 0.00 0.00 0.75 0.00 0.00
RII 0.00 0.00 0.76 0.00 0.00
M1 0.00 0.00 75,400.00 0.00 11,304,025.48
M2 0.00 0.00 33,720.63 0.00 4,962,377.23
MX 0.00 0.00 12,941.87 0.00 1,724,671.79
M3 0.00 0.00 17,587.50 0.00 2,343,761.25
B1 0.00 0.00 12,412.50 0.00 1,654,125.74
B2 0.00 0.00 5,175.00 0.00 689,635.51
B3 0.00 0.00 13,448.77 0.00 1,792,221.91
Totals 0.00 0.00 2,158,872.00 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A1 80,115,000.00 7.50000% 1000.00000000 6.25000000 0.00000000 0.00000000
A2 124,150,000.00 6.72000% 1000.00000000 5.60000000 0.00000000 0.00000000
A3 0.00 2.28000% 1000.00000000 1.90000000 0.00000000 0.00000000
A4 0.00 9.00000% 1000.00000000 7.50000000 0.00000000 0.00000000
A5 2,410,900.00 8.00000% 1000.00000000 6.66666805 0.00000000 0.00000000
A6 0.00 9.00000% 1000.00000000 7.50000933 0.00000000 0.00000000
A8 25,000,000.00 8.15000% 1000.00000000 6.79166680 0.00000000 0.00000000
A9 19,000,000.00 7.90000% 1000.00000000 6.58333316 0.00000000 0.00000000
A7 0.00 9.00000% 1000.00000000 7.50000053 0.00000000 0.00000000
A10 2,418,208.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
A11 0.00 9.00000% 1000.00000555 7.50000017 0.00000000 0.00000000
RI 100.00 9.00000% 1000.00000000 7.50000000 0.00000000 0.00000000
RII 100.00 9.00000% 1000.00000000 7.50000000 0.00000000 0.00000000
M1 11,310,000.00 8.00000% 1000.00000000 6.66666667 0.00000000 0.00000000
M2 4,965,000.00 8.15000% 1000.00000000 6.79166767 0.00000000 0.00000000
MX 0.00 9.00000% 1000.00000000 7.49999855 0.00000000 0.00000000
M3 2,345,000.00 9.00000% 1000.00000000 7.50000000 0.00000000 0.00000000
B1 1,655,000.00 9.00000% 1000.00000000 7.50000000 0.00000000 0.00000000
B2 690,000.00 9.00000% 1000.00000000 7.50000000 0.00000000 0.00000000
B3 1,793,169.15 9.00000% 1000.00000000 7.50000077 0.00000000 0.00000000
<FN>
(5) All Classes are per $1,000 denomination
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A1 0.00000000 0.00000000 6.25000000 0.00000000 992.49985508
A2 0.00000000 0.00000000 5.60000000 0.00000000 999.95111204
A3 0.00000000 0.00000000 1.90000000 0.00000000 999.95111204
A4 0.00000000 0.00000000 7.50000000 0.00000000 992.49985546
A5 0.00000000 0.00000000 6.66666805 0.00000000 1000.00000000
A6 0.00000000 0.00000000 7.50000933 0.00000000 1000.00291178
A8 0.00000000 0.00000000 6.79166680 0.00000000 1000.00000000
A9 0.00000000 0.00000000 6.58333316 0.00000000 1000.00000000
A7 0.00000000 0.00000000 7.50000053 0.00000000 1000.00007046
A10 0.00000000 0.00000000 0.00000000 0.00000000 997.93490469
A11 0.00000000 0.00000000 7.50000017 0.00000000 998.09476912
RI 0.00000000 0.00000000 7.50000000 0.00000000 0.00000000
RII 0.00000000 0.00000000 7.60000000 0.00000000 0.00000000
M1 0.00000000 0.00000000 6.66666667 0.00000000 999.47174889
M2 0.00000000 0.00000000 6.79166767 0.00000000 999.47174824
MX 0.00000000 0.00000000 7.49999855 0.00000000 999.47194079
M3 0.00000000 0.00000000 7.50000000 0.00000000 999.47174840
B1 0.00000000 0.00000000 7.50000000 0.00000000 999.47174622
B2 0.00000000 0.00000000 7.50000000 0.00000000 999.47175362
B3 0.00000000 0.00000000 7.50000077 0.00000000 999.47175089
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Rate Balance Balance Balance Balance Percentage
Class
<S> <C> <C> <C> <C> <C> <C>
MX1 9.00000% 1,256,667.00 1,256,002.83 0.00 0.00 99.94714829%
MX2 9.00000% 468,916.00 468,668.96 0.00 0.00 99.94731679%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 2,900,248.98
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 2,900,248.98
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 117,217.57
Payment of Interest and Principal 2,783,031.41
Total Withdrawals (Pool Distribution Amount) 2,900,248.98
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 114,631.48
Indenture Trustee: Norwest Bank 2,586.09
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 117,217.57
</TABLE>
<TABLE>
<CAPTION> CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 17 2,138,016.02 0.873587% 0.776815%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 17 2,138,016.02 0.873587% 0.776815%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current Next
Original $ Original % Current $ Current % Class% Prepayment%
<S> <C> <C> <C> <C> <C> <C> <C>
Class A 22,758,369.15 8.25019568% 22,746,147.12 8.26446468% 91.735535% 0.000000%
Class R-I 22,758,269.15 8.25015943% 22,746,147.12 8.26446468% 0.000000% 0.000000%
Class R-II 22,758,169.15 8.25012318% 22,746,147.12 8.26446468% 0.000000% 0.000000%
Class M-1 11,448,169.15 4.15010562% 11,442,121.64 4.15731991% 4.107145% 49.696441%
Class M-2 6,483,169.15 2.35023054% 6,479,744.41 2.35431603% 1.803004% 21.816342%
Class M-3 4,138,169.15 1.50013848% 4,135,983.16 1.50274623% 0.851570% 10.303992%
Class B-1 2,483,169.15 0.90018012% 2,481,857.42 0.90174494% 0.601001% 7.272114%
Class B-2 1,793,169.15 0.65004642% 1,792,221.91 0.65117642% 0.250569% 3.031878%
Class B-3 0.00 0.00000000% 0.00 0.00000000% 0.651176% 7.879233%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
<S> <C> Original $<C> Original % Current $<C><C> Current %
Bankruptcy 151,819.00 0.05503630% 151,819.00 0.05516111%
Fraud 5,517,049.54 2.00000000% 5,517,049.54 2.00453557%
Special Hazard 2,758,525.00 1.00000008% 2,758,525.00 1.00226787%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 9.901334%
Weighted Average Net Coupon 9.402669%
Weighted Average Pass-Through Rate 9.391419%
Weighted Average Maturity(Stepdown Calculation ) 348
Beginning Scheduled Collateral Loan Count 1,950
Number Of Loans Paid In Full 4
Ending Scheduled Collateral Loan Count 1,946
Beginning Scheduled Collateral Balance 275,852,477.15
Ending Scheduled Collateral Balance 275,228,317.74
Ending Actual Collateral Balance at 31-Mar-2000 275,420,851.82
Monthly P &I Constant 2,422,618.91
Class A Optimal Amount 2,595,329.25
Ending Scheduled Balance for Premium Loans 275,228,317.74
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Senior Accelerated Distribution 100%
Percentage
Lockout Priority Percentage 0%
Senior Percentage 91.68%
</TABLE>
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