|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: 1 800 CONTACTS INC, S-1/A, 1998-02-03 |
Next: CWMBS INC MORTGAGE PASS THROUGH CERTIFICATES SERIES 1997-9, 8-K, 1998-02-03 |
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
January 25, 1998
Date of Report (Date of Earliest Event Reported)
Headlands Mortgage Securities Inc. (as Sponsor under a Pooling and Servicing
Agreement dated as of November 1, 1997 providing for the issuance of the
Mortgage Pass-Through Certificates, Series 1997-6)
HEADLANDS MORTGAGE SECURITIES INC.
(Exact Name of Registrant as Specified in Its Charter)
<TABLE>
<CAPTION>
<S> <C> <C>
Delaware 333-32485-3 68-0397342
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer Identification No.)
of Incorporation)
</TABLE>
700 Larkspur Landing Circle, Suite 240, Larkspur, CA 94939
(Address of Principal Executive Offices)
(415) 461-6790
(Registrant's Telephone Number,
Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events
Headlands Mortgage Securities Inc. (the "Company") has
previously registered the offer and sale of its Mortgage
Pass-Through Certificates, Series 1997-6 (the "Certificates").
The following exhibit which relates specifically to the
Certificates is included with this Current Report:
Item 7(c). Exhibits
10.1 Monthly Payment Date Statement distributed to
Certificateholders, dated January 25, 1998.
<PAGE>
SIGNATURE
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.
Date: February 2, 1998
HEADLANDS MORTGAGE
SECURITIES INC.
By: /s/ Gilbert J. MacQuarrie
----------------------------------------
Gilbert J. MacQuarrie
Vice President, Treasurer and Secretary
(Principal Financial Officer and
Principal Accounting Officer)
<PAGE>
EXHIBIT INDEX
Exhibit Number Page Number
- -------------- -----------
10.1 Monthly Payment Date Statement distributed to
Certificateholders, dated January 25, 1998......................5
Page Number: 1
Payment Date: 1/26/98
Accrual Period: 12/1/97 thru 12/31/97
THE
BANK OF
NEW
YORK
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
--------------------------------------------------
Headlands Mortgage Securities Inc.
Mortgage Pass-Through Certificates, Series 1997-6
Headlands Mortgage Company, Servicer
--------------------------------------------------
<TABLE>
<CAPTION>
Current Payment Information
Class Information ------------------------------------------------------------------------------
- ---------------------- Beginning Pass Thru Principal Interest Total Ending
Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Cert. Bal.
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-I-1 23,125,431.40 0.000000% 159,433.18 0.00 159,433.18 22,965,998.22
A-I-2 39,737,421.98 7.000000% 0.00 231,801.63 231,801.63 39,146,622.83
A-I-3 22,287,306.00 7.000000% 0.00 130,009.29 130,009.29 22,287,306.00
A-I-4 82,984,849.86 7.000000% 1,646,244.44 484,078.29 2,130,322.73 81,338,605.42
A-I-5 3,806,000.00 7.000000% 0.00 22,201.67 22,201.67 3,806,000.00
A-I-6 12,491,426.82 0.000000% 69,022.12 0.00 69,022.12 12,422,404.70
A-I-7 4,120,563.76 0.000000% 362,343.85 0.00 362,343.85 3,758,219.91
A-I-8 1,649,000.00 7.000000% 0.00 9,619.17 9,619.17 1,649,000.00
A-II-1 24,493,245.86 6.750000% 114,033.06 137,774.51 251,807.57 24,379,212.79
A-II-2 39,466,175.73 7.155000% 183,742.44 235,317.07 419,059.51 39,282,433.28
X 38,501,962.73 7.000000% 0.00 224,594.78 224,594.78 37,967,296.76
B-1 7,334,783.79 7.000000% 5,485.94 42,786.24 48,272.18 7,329,297.85
B-2 3,376,328.86 7.000000% 2,525.28 19,695.25 22,220.53 3,373,803.58
B-3 2,212,077.70 7.000000% 1,654.49 12,903.79 14,558.28 2,210,423.21
B-4 1,513,526.00 7.000000% 1,132.02 8,828.90 9,960.92 1,512,393.99
B-5 698,550.69 7.000000% 522.47 4,074.88 4,597.35 698,028.22
B-6 1,164,253.16 7.000000% 870.79 6,791.48 7,662.27 1,163,382.37
R-1 0.00 7.000000% 0.00 0.00 0.00 0.00
R-2 0.00 7.000000% 0.00 5.03 5.03 0.00
- --------------------------------------------------------------------------------------------------------------------
Totals - 230,723,519.62 - 2,547,010.08 1,570,481.98 4,117,492.06 228,176,509.54
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
Factors per $1,000 (Class R per $100)
Class Information -----------------------------------------------
- ---------------------- Principal Interest Ending
Class Code Name Dist. Dist. Cert. Bal
- -----------------------------------------------------------------------
A-I-1 6.85409828 0.0000000000 987.31775160
A-I-2 0.00000000 5.7961999900 978.86134305
A-I-3 0.00000000 5.8333335577 1000.00000000
A-I-4 19.66974968 5.7838912516 971.85446657
A-I-5 0.00000000 5.8333342091 1000.00000000
A-I-6 5.50053753 0.0000000000 989.97108760
A-I-7 86.62813994 0.0000000000 898.50455111
A-I-8 0.00000000 5.8333353548 1000.00000000
A-II-1 4.56132249 5.5109804000 975.16851171
A-II-2 4.56132249 5.8416390674 975.16851171
X 0.00000000 5.7670984062 974.91641006
B-1 0.74738066 5.8290085346 998.51119652
B-2 0.74738066 5.8290078767 998.51119652
B-3 0.74738066 5.8290099150 998.51119652
B-4 0.74738066 5.8290072485 998.51119652
B-5 0.74738066 5.8290097258 998.51119652
B-6 0.74738066 5.8290111637 998.51119652
R-1 0.00000000 0.0000000000 0.00000000
R-2 0.00000000 5.0300000002 0.00000000
- ----------------------------------------------------------------------
Totals - 2 10.93029210 6.73959908 979.20142529
- ----------------------------------------------------------------------
<PAGE>
Page Number: 2
Payment Date: 1/26/98
Accrual Period: 12/1/97 thru 12/31/97
THE
BANK OF
NEW
YORK
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
--------------------------------------------------
Headlands Mortgage Securities Inc.
Mortgage Pass-Through Certificates, Series 1997-6
Headlands Mortgage Company, Servicer
--------------------------------------------------
<TABLE>
<CAPTION>
Class Information Original Certificate Information
- -------------------------------------------------------------------------------
Type Name Cert. Bal. Pass Thru Cusips
- -------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Senior - Fixed Rate A-I-1 23,261,000.00 0.000000% 42209EEP1
Senior - Fixed Rate A-I-2 39,992,000.00 7.000000% 42209EEQ9
Senior - Fixed Rate A-I-3 22,287,306.00 7.000000% 42209EER7
Senior - Fixed Rate A-I-4 83,694,224.00 7.000000% 42209EES5
Senior - Fixed Rate A-I-5 3,806,000.00 7.000000% 42209EET3
Senior - Fixed Rate A-I-6 12,548,250.00 0.000000% 42209EEU0
Senior - Fixed Rate A-I-7 4,182,750.00 0.000000% 42209EEV8
Senior - Fixed Rate A-I-8 1,649,000.00 7.000000% 42209EEW6
Senior - Fixed Rate A-II-1 25,000,000.00 6.750000% 42209EEX4
Senior - Fixed Rate A-II-2 40,282,713.00 7.155000% 42209EEY2
Senior - Fixed Rate X 38,944,156.00 7.000000% 42209EEZ9
Subordinate - Fixed Rate B-1 7,340,226.00 7.000000% 42209EFA3
Subordinate - Fixed Rate B-2 3,378,834.00 7.000000% 42209EFB1
Subordinate - Fixed Rate B-3 2,213,719.00 7.000000% 42209EFC9
Subordinate - Fixed Rate B-4 1,514,649.00 7.000000% 42209EFD7
Subordinate - Fixed Rate B-5 699,069.00 7.000000% 42209EFE5
Subordinate - Fixed Rate B-6 1,165,117.00 7.000000% 42209EFF2
Senior - Fixed Rate R-1 100.00 7.000000% 42209EFG0
Senior - Fixed Rate R-2 100.00 7.000000% 42209EFH8
- -------------------------------------------------------------------------------
Totals - 233,023,057.00 - -
- -------------------------------------------------------------------------------
</TABLE>
Unpaid Amounts
------------------------------------------
------------- Interest Current Real Aggregate Real
Name Shortfalls Losses Losses
-------------------------------------------------------
A-I-1 0.00 0.00 0.00
A-I-2 0.00 0.00 0.00
A-I-3 0.00 0.00 0.00
A-I-4 0.00 0.00 0.00
A-I-5 0.00 0.00 0.00
A-I-6 0.00 0.00 0.00
A-I-7 0.00 0.00 0.00
A-I-8 0.00 0.00 0.00
A-II-1 0.00 0.00 0.00
A-II-2 0.00 0.00 0.00
X 0.00 0.00 0.00
B-1 0.00 0.00 0.00
B-2 0.00 0.00 0.00
B-3 0.00 0.00 0.00
B-4 0.00 0.00 0.00
B-5 0.00 0.00 0.00
B-6 0.00 0.00 0.00
R-1 0.00 0.00 0.00
R-2 0.00 0.00 0.00
-------------------------------------------------
Totals 0.00 0.00 0.00
-------------------------------------------------
<PAGE>
Page Number: 3
Payment Date: 1/26/98
Accrual Period: 12/1/97 thru 12/31/97
THE
BANK OF
NEW
YORK
101 Barclay Street, 12E
New York, NY 10286
Attn: Frank Austin, MBS Unit
(212) 815-2297
--------------------------------------------------
Headlands Mortgage Securities Inc.
Mortgage Pass-Through Certificates, Series 1997-6
Headlands Mortgage Company, Servicer
--------------------------------------------------
P&S Ref.
-----------------------------------------
Sec. 5.04 COLLATERAL INFORMATION
-----------------------------------------
Ending scheduled principal balance 228,176,510.01
Ending loan count (excluding REO) 1512
Aggregate scheduled principal amt 172,303.16
Aggregate prepayment amount 2,374,706.92
-----------------------------------------
P&S Ref. ADVANCES
-----------------------------------------
Sec. 5.04
Amount of advances (this period) 21,545.93
Aggregate outstanding advances 23,096.48
-----------------------------------------
P&S Ref. FEES
-----------------------------------------
Sec. 5.04
Monthly servicer fees 48,067.40
Monthly trustee fee 1,634.30
-----------------------------------------
P&S Ref. OTHER INFORMATION
-----------------------------------------
Sec. 5.04
Compensating interest amount 0.00
P&S Ref.
--------------------------------------------------------------------
Sec. 5.04 LIQUIDATED LOAN INFORMATION
--------------------------------------------------------------------
Net liquidation proceeds 0.00
Realized losses (this period) 0.00
Cumulative losses (since Cut-Off) 0.00
<TABLE>
<CAPTION>
P&S Ref.
---------------------------
Sec. 5.04 DELINQUENCY INFORMATION
---------------------------
Period Loan Count Outstanding Prin Balance Scheduled Prin Balance
------ ---------- ------------------------ ----------------------
<S> <C> <C> <C>
1 month 0 0.00 0.00
2 months 0 0.00 0.00
3 months or more 0 0.00 0.00
In foreclosure 0 0.00 0.00
Totals 0 0.00 0.00
--- ---- ----
</TABLE>
- -----------------------------------------------------
REO INFORMATION
- -----------------------------------------------------
<TABLE>
<CAPTION>
Outstanding Prin Balance Book Value Interest Thru Foreclosure Foreclosure Expenses
- ------------------------ ---------- ------------------------- --------------------
<S> <C> <C> <C>
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
---- ---- ---- ----
</TABLE>
|
|