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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 22, 1997
Advanta Mortgage Loan Trust 1997-2
(Exact name of registrant as specified in its charter)
New York 333-21265 Application Pending
(State or Other Jurisdiction of (Commission File (I.R.S. Employer
Incorporation) Number) Identification No.)
c/o Advanta Mortgage Conduit 92127
Services, Inc. (Zip Code)
Attention: Milton Riseman
16875 West Bernardo Drive
San Diego, California
(Address of Principal Executive Offices)
Registrant's telephone number, including area code (619) 674-1800
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Item 5. Other Events
The financial statements of AMBAC Indemnity Corporation ("AMBAC") as of
December 31, 1996 and 1995 that are included in the Form 8-K have been audited
by KPMG Peat Marwick LLP. The consent of KPMG Peat Marwick LLP to the inclusion
of their audit report on such financial statements in this Form 8-K and to being
named as "Experts" in the Prospectus Supplement for the Advanta Mortgage Loan
Trust 1997-2 is attached hereto as Exhibit 23.1.
The consolidated financial statements of AMBAC and its subsidiaries as
of December 31, 1996 and December 31, 1995 and for the three years ended
December 31, 1996, prepared in accordance with generally accepted accounting
principles, included in the Current Report on Form 8-K of AMBAC Inc. (which was
filed with the Commission on March 12, 1997, Commission File No. 1-10777) and
the consolidated financial statements of AMBAC and its subsidiaries as of March
31, 1997 and for the periods ending March 31, 1997 and March 31, 1996 included
in the Quarterly Report on Form 10-Q of AMBAC Inc. for the period ended March
31, 1997 (which was filed with the Commission on May 15, 1997) are attached
incorporated by reference into this Form 8-K and shall be deemed to be a part
hereof.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable
(b) Not applicable.
(c) Exhibits
Exhibit No.
23.1 Consent of KPMG Peat Marwick LLP
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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 hereunto duly authorized.
ADVANTA MORTGAGE LOAN TRUST 1997-2
By: /s/ Mark T. Dunsheath
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Name: Mark T. Dunsheath
Title: Vice President
Dated: June 2, 1997
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EXHIBIT INDEX
Exhibit No. Description Page No.
23.1 Consent of KPMG Peat Marwick LLP 5
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EXHIBIT 23.1
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
AMBAC Indemnity Corporation:
We consent to the incorporation by reference in the Form 8-K of Advanta
Mortgate Loan Trust 1997-2 dated June 2, 1997 of our report dated January 30,
1997 with respect to the consolidated financial statements of AMBAC Indemnity
Corporation and subsidaries as of December 31, 1996 and December 31, 1995, and
for each of the years in the three-year period ended December 31, 1996, which
report appears in the Form 8-K of AMBAC Inc. dated March 12, 1997 and to the
reference to our firm under the heading "Experts" in the Prospectus Supplement
dated May 22, 1997, of Advanta Mortgage Loan Trust 1997-2.
New York, New York
June 2, 1997
