May 13, 1998
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: AMRESCO Residential Securities Corporation Mortgage Trust
1998-1; File No. 333-30759.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the
"Trust") created pursuant to a Pooling and Servicing Agreement dated
as of February 1, 1998 (the "Pooling and Servicing Agreement")
relating to AMRESCO Residential Securities Corporation Loan Trust
1998-1, by and among AMRESCO Residential Securities Corporation, in
its capacity as Depositor (the "Depositor"), AMRESCO Residential
Capital Markets, Inc., in its capacity as the Seller (the "Seller"),
Advanta Mortgage Corp. USA, Ameriquest Mortgage Company and Wendover
Financial Services Corporation as the Servicers (collectively, the
"Servicers") and Bankers Trust Company, in its capacity as Trustee
(the "Trustee).
The AMRESCO Residential Securities Corporation Loan Mortgage
Pass-Through Certificates, Series 1998-1 (the Certificates") will
consist of (i) the Class A-1 Certificates, Class A-2 Certificates,
Class A-3 Certificates, Class A-4 Certificates, Class A-5
Certificates, Class A-6 Certificates and Class A-7 Certificates
(collectively, the "Class A Certificates"); (ii) the Class M-1F
Certificates and the Class M-1A Certificates (collectively, the
"Class M-1 Certificates"); (iii) the Class M-2F Certificates and the
Class M-2A Certificates (collectively, the "Class M-2 Certificates",
and, collectively with the Class M-1 Certificates, the "Mezzanine
Certificates"); (iv) the Class B-1F Certificates and the Class B-1A
Certificates (collectively, the Class B-1 Certificates"), (v) the
Class C-FIO and Class C-AIO Certificates (collectively, the "Class
C-IO Certificates" and, collectively with the Mezzanine Certificates
and the Class B-1 Certificates, the "Subordinate Certificates");
(vi) the Class S Certificates; (vii) the Class D Certificates and
(viii) the residual class with respect to each REMIC held by the
Trust (the "Class R Certificates," and together with the Class C-IO
Certificates, the Class D Certificates and the Class S Certificates,
the "Private Certificates"). Only the Class A Certificates, the
Mezzanine Certificates and the Class B01 Certificates
(collectively, the "Offered Certificates") are offered hereby.
The Offered Certificates were registered under the Securities Act of
1933, as amended, by a Registration Statement on Form S-11 (File No.
333-30759). As a result, the Trust is subject to the filing
requirements of Section 15(d) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"). The Trust intends to fulfill these
filing requirements in the manner described herein:
The Trust will file, promptly after each Distribution Date (as
defined in the Pooling and Servicing Agreement), a Current Report on
Form 8-K in substantially the form enclosed herewith, including as
an exhibit thereto the applicable Distribution Date report. Each
such Current Report will also disclose under Item 5 any matter
occurring during the relevant reporting period which would be
reportable under Item 1, 2, 4 or 5 of Part II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will file
an annual report of Form 10-K which responds to Items 2, 3, and 4 of
Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and
Item 14 of Part IV thereof, and include as exhibits thereto certain
information from the Distribution Date reports aggregated for such
year and a copy of the independent accountants' annual compliance
statement required under the Pooling and Servicing Agreement.
The Trust will follow the above procedures except for any fiscal year
as to which its reporting obligations under Section 15(d) of the
Exchange Act have been suspended pursuant to such Section. In such
event, the Trust will file a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 253-7562.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for AMRESCO Residential Securities Corporation
Mortgage Loan Trust 1998-1.
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): March 25, 1998
AMRESCO RESIDENTIAL SECURITIES CORPORATION
AMRESCO Residential Securities Corporation, in its capacity as
Depositor (the "Depositor"), AMRESCO Residential Capital Markets,
Inc., in its capacity as the Seller (the "Seller"), Advanta Mortgage
Corp. USA, Ameriquest Mortgage Company and Wendover Financial
Services Corporation as the Servicers (collectively, the "Servicers")
and Bankers Trust Company, in its capacity as Trustee (the "Trustee).
under the Pooling and Servicing Agreement, dated as of February 1,
1998, providing for the issuance of the Mortgage Loan Pass-Through
Certificates, Series 1998-1
AMRESCO Residential Securities Corporation Mortgage Loan Trust 1998-1
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-30759 75-2620414
(Commission File Number) (I.R.S. Employer Identification No.)
700 NORTH PEARL STREET
SUITE 1400, LB # 342
DALLAS, TEXAS 75201-7424
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (214) 953-7700
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements
to the Certificateholders which was derived from the monthly
information submitted by the Master Servicer of the Trust to the
Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Report to Certificateholders as to distributions made on
March 25, 1998.
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, hereunto duly authorized.
Bankers Trust Company, not in its
individual capacity, but solely as a
duly authorized agent of the
Registrant pursuant to the Pooling
and Servicing Agreement, dated as of
February 1, 1998.
Date: May 13, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the Certificateholders 5
dated as of March 25, 1998.
AMRESCO RESIDENTIAL SECURITIES CORP.
MORTGAGE LOAN TRUST SERIES 1998-1
REMIC LT
STATEMENT TO CERTIFICATE HOLDERS
DISTRIBUTIONS IN DOLLARS
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
LT A1 156,000,000.00 156,000,000.00 1,165,279.06 2,225,164.64
LT A2 25,000,000.00 25,000,000.00 185,786.48 0.00
LT-A3 78,500,000.00 78,500,000.00 583,369.56 0.00
LT-A4 22,500,000.00 22,500,000.00 167,207.83 0.00
LT-A5 32,000,000.00 32,000,000.00 237,806.70 0.00
LT-A6 30,000,000.00 30,000,000.00 222,943.78 0.00
LT-A7 486,000,000.00 486,000,000.00 3,521,859.77 3,521,859.21
LT-M1F 22,000,000.00 22,000,000.00 164,334.23 0.00
LT-M1A 48,000,000.00 48,000,000.00 347,838.01 0.00
LT-M2F 18,000,000.00 18,000,000.00 134,455.28 0.00
LT-M2A 36,000,000.00 36,000,000.00 260,878.50 0.00
LT-B1F 16,000,000.00 16,000,000.00 119,515.80 0.00
LT-B1A 30,000,000.00 30,000,000.00 217,398.75 0.00
LT-R .00 .00 .00 0.00
Totals 1,000,000,000.00 1,000,000,000.00 7,328,673.75 10,495,493.85
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
LT-A1 3,390,443.70 0.00 0.00 153,774,835.36
LT-A2 185,786.48 0.00 0.00 25,000,000.00
LT-A3 583,369.56 0.00 0.00 78,500,000.00
LT-A4 167,207.83 0.00 0.00 22,500,000.00
LT-A5 237,806.70 0.00 0.00 32,000,000.00
LT-A6 222,943.78 0.00 0.00 30,000,000.00
LT-A7 11,792,188.98 0.00 0.00 477,729,670.79
LT-M1F 164,334.23 0.00 0.00 22,000,000.00
LT-M1A 347,838.01 0.00 0.00 48,000,000.00
LT-M2F 134,455.28 0.00 0.00 18,000,000.00
LT-M2A 260,878.50 0.00 0.00 36,000,000.00
LT-B1F 119,515.80 0.00 0.00 16,000,000.00
LT-B1A 217,398.75 0.00 0.00 30,000,000.00
LT-R 0.00 0.00 0.00 0.00
Totals 17,824,167.60 0.00 0.00 989,504,506.15
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
LT-A1 1,000.000000 7.469738 14.263876 21.733613
LT-A2 1,000.000000 7.431459 0.000000 7.431459
LT-A3 1,000.000000 7.431459 0.000000 7.431459
LT-A4 1,000.000000 7.431459 0.000000 7.431459
LT-A5 1,000.000000 7.431459 0.000000 7.431459
LT-A6 1,000.000000 7.431459 0.000000 7.431459
LT-A7 1,000.000000 7.246625 17.017138 24.263763
LT-M1F 1,000.000000 7.469738 0.000000 7.469738
LT-M1A 1,000.000000 7.246625 0.000000 7.246625
LT-M2F 1,000.000000 7.469738 0.000000 7.469738
LT-M2A 1,000.000000 7.246625 0.000000 7.246625
LT-B1F 1,000.000000 7.469738 0.000000 7.469738
LT-B1A 1,000.000000 7.246625 0.000000 7.246625
LT-R 0.000000 0.000000 0.000000 0.000000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
LT-A1 985.736124 10.051509% 10.044680%
LT-A2 1,000.000000 10.051509% 10.044680%
LT-A3 1,000.000000 10.051509% 10.044680%
LT-A4 1,000.000000 10.051509% 10.044680%
LT-A5 1,000.000000 10.051509% 10.044680%
LT-A6 1,000.000000 10.051509% 10.044680%
LT-A7 982.982862 9.751281% 9.746758%
LT-M1F 1,000.000000 10.051509% 10.044680%
LT-M1A 1,000.000000 9.751281% 9.746758%
LT-M2F 1,000.000000 10.051509% 10.044680%
LT-M2A 1,000.000000 9.751281% 9.746758%
LT-B1F 1,000.000000 10.051509% 10.044680%
LT-B1A 1,000.000000 9.751281% 9.746758%
LT-R 0.000000 0.000000% 0.000000%
Seller: Amresco Residential Securities Corp. Administrator: Tito Escobedo
Servicer: Advanta/Ameriquest/Wendover,Inc. Bankers Trust Company
Lead Underwriter: Credit Suisse First Boston 3 Park Plaza
Record Date: February 28, 1998 Irvine, CA 92614
Distribution Date: March 25,1998 Factor Information (800)735-7777
AMRESCO RESIDENTIAL SECURITIES CORP.
MORTGAGE LOAN TRUST SERIES 1998-1
REMIC UT
STATEMENT TO CERTIFICATE HOLDERS
DISTRIBUTIONS IN DOLLARS
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
LT A1 156,000,000.00 156,000,000.00 846,300.00 2,225,344.45
LT A2 25,000,000.00 25,000,000.00 131,250.00 0.00
LT-A3 78,500,000.00 78,500,000.00 418,666.67 0.00
LT-A4 22,500,000.00 22,500,000.00 122,812.50 0.00
LT-A5 32,000,000.00 32,000,000.00 188,533.33 0.00
LT-A6 30,000,000.00 30,000,000.00 162,750.00 0.00
LT-A7 486,000,000.00 486,000,000.00 3,224,137.50 8,270,979.15
M-1F 22,000,000.00 22,000,000.00 128,333.33 0.00
M-1A 48,000,000.00 48,000,000.00 331,006.67 0.00
M-2F 18,000,000.00 18,000,000.00 108,600.00 0.00
M-2A 36,000,000.00 36,000,000.00 257,275.00 0.00
B-1F 16,000,000.00 16,000,000.00 101,466.67 0.00
B-1A 30,000,000.00 30,000,000.00 233,187.50 0.00
C-FIO* 40,000,000.00 40,000,000.00 500,000.00 0.00
C-AIO* 66,000,000.00 66,000,000.00 512,636.66 0.00
D 0.00 0.00 0.00 0.00
S 0.00 0.00 60,888.17 0.00
R 0.00 0.00 0.00 0.00
Totals 1,000,000,000.00 1,000,000,000.00 7,327,844.00 10,496,323.60
*REPRESENTS A NOTIONAL BALANCE
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
A-1 3,071,644.45 0.00 0.00 153,774,655.36
A-2 131,250.00 0.00 0.00 25,000,000.00
A-3 418,666.67 0.00 0.00 78,500,000.00
A-4 122,812.50 0.00 0.00 22,500,000.00
A-5 188,533.33 0.00 0.00 32,000,000.00
A-6 162,750.00 0.00 0.00 30,000,000.00
A-7 11,495,116.65 0.00 0.00 477,729,670.79
M-1F 128,333.33 0.00 0.00 22,000,000.00
M-1A 331,006.67 0.00 0.00 48,000,000.00
M-2F 108,600.00 0.00 0.00 18,000,000.00
M-2A 257,275.00 0.00 0.00 36,000,000.00
B-1F 101,466.67 0.00 0.00 16,000,000.00
B-1A 233,187.50 0.00 0.00 30,000,000.00
C-FIO* 500,000.00 0.00 0.00 40,000,000.00
C-AIO* 512,636.66 0.00 0.00 66,000,000.00
D 0.00 0.00 0.00 0.00
S 60,888.17 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00
Totals 17,824,167.60 0.00 0.00 989,503,676.40
*REPRESENTS A NOTIONAL BALANCE
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A1 03215PDH9 1,000.000000 5.425000 14.263876 19.733613
A2 03215PDJ5 1,000.000000 5.250000 0.000000 5.431459
A3 03215PDK2 1,000.000000 5.333333 0.000000 5.431459
A4 03215PDL0 1,000.000000 5.458333 0.000000 5.431459
A5 03215PDM8 1,000.000000 5.891667 0.000000 5.431459
A6 03215PDN6 1,000.000000 5.425000 0.000000 5.431459
A7 03215PDS5 1,000.000000 6.634028 17.017138 23.263763
M1F 03215PDP1 1,000.000000 5.833333 0.000000 5.469738
M1A 03215PDT3 1,000.000000 6.895972 0.000000 6.246625
M2F 03215PDQ9 1,000.000000 6.033333 0.000000 6.469738
M2A 03215PDU0 1,000.000000 7.146528 0.000000 7.246625
B1F 03215PDR7 1,000.000000 6.341667 0.000000 6.469738
B1A 03215PDV8 1,000.000000 7.772917 0.000000 7.246625
C-FIO* AO9801114 1,000.000000 12.500000 0.000000 12.000000
C-AIO* AO9801115 1,000.000000 7.767222 0.000000 7.767222
D AO9801116 0.000000 0.000000 0.000000 0.000000
S AO9801117 0.000000 0.060888 0.000000 0.060888
R AO9801118 0.000000 0.000000 0.000000 0.000000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
A1 985.734971 6.510000% 6.510000%
A2 1,000.000000 6.300000% 6.300000%
A3 1,000.000000 6.400000% 6.400000%
A4 1,000.000000 6.550000% 6.550000%
A5 1,000.000000 7.070000% 7.070000%
A6 1,000.000000 6.510000% 6.510000%
A7 982.981524 5.825000% 5.887500%
M1F 1,000.000000 7.000000% 7.000000%
M1A 1,000.000000 6.055000% 6.117500%
M2F 1,000.000000 7.240000% 7.240000%
M2A 1,000.000000 6.275000% 6.337500%
B1F 1,000.000000 7.610000% 7.610000%
B1A 1,000.000000 6.825000% 6.887500%
C-FIO* 1,000.000000 15.000000% 15.000000%
C-AIO* 1,000.000000 6.820000% 6.820000%
D 0.000000 0.000000% 0.000000%
S 0.000000 0.000000% 0.000000%
R 0.000000 0.000000% 0.000000%
Seller: Amresco Residential Securities Corp. Administrator: Tito Escobedo
Servicer: Advanta/Ameriquest/Wendover,Inc. Bankers Trust Company
Lead Underwriter: Credit Suisse First Boston 3 Park Plaza
Record Date: February 28, 1998 Irvine, CA 92614
Distribution Date: March 25,1998 Factor Information (800)735-7777
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST
SERIES 1998-1
STATEMENT TO CERTIFICATE HOLDERS
DISTRIBUTION DATE: MARCH 25, 1998
GROUP I GROUP II TOTALS
SERVICER ADVANCES:
INTEREST 350,305.64 619,828.19 970,133.83
PRINCIPAL 24,478.73 32,779.79 55,258.52
ACCRUED SERVICING FEE
FOR THE CURRENT PERIOD: 102,023.04 159,632.09 261,655.13
PLUS ADDITIONAL SERVICING
COMPENSATION: 0.00 0.00 0.00
TOTAL SERVICING FEES DUE
MASTER SERVICER: 102,023.04 159,632.09 261,655.13
LESS: AMOUNTS TO COVER
INTEREST SHORTFALLS: 2,119.56 8,037.75 10,157.31
LESS: DELINQUENT SERVICE FEES: 12,798.25 24,748.11 37,546.36
COLLECTED SERVICING FEES FOR
CURRENT PERIOD: 87,105.23 126,846.23 213,951.46
BEGINNING NUMBER OF LOANS: 4,225 4,455 8,680
ENDING NUMBER OF LOANS: 4,186 4,384 8,570
BEGINNING LOAN BALANCE: 302,426,527.47 473,668,841.72 776,095,369.19
ENDING LOAN BALANCE 300,201,362.83 465,398,512.51 765,599,875.34
BEGINNING PRE-FUNDING BALANCE: 97,573,472.53 126,331,158.28 223,904,630.81
ENDING LOAN PRE-FUNDING BALANCE: 97,573,472.53 126,331,158.28 223,904,630.81
WEIGHTED AVERAGE COUPON RATE: 10.5515% 10.2513% 10.3683%
EXTRA PRINCIPAL DISTRIBUTION AMOUNT: 179.81 649.94 829.75
OVERCOLLATERIZED AMOUNT: 179.81 649.94 829.75
TARGETED OVERCOLLATERALIZED
AMOUNT: 7,000,000.00 14,000,000.00 21,400,000.00
SUSTITUTION AMOUNT: 0.00 0.00 0.00
LOAN PURCHASE PRICE AMOUNTS 0.00 0.00 0.00
SENIOR ENHANCEMENT PERCENTAGE: 14.0784% 19.2657%
IS TRIGGER EVENT OCCURING: NO NO
AGGREGATE AMOUNT ON DEPOSIT IN CERTIFICATE ACCOUNT: 17,824,167.60
CLASS D DISTRIBUTION AMOUNT: 0.00
CURRENT PERIODS ONE-MONTH LIBOR: 5.6250%
NEXT PERIODS ONE-MONTH LIBOR: 5.6875%
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST
SERIES 1998-1
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION DATE: MARCH 25, 1998
DELINQUENT AND
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 90+
INFORMATION* DAYS DAYS DAYS DAYS
GROUP I (FIXED RATE)
PRINCIPAL BALANCE 5,737,383.31 3,881,292.42 1,909,412.42 107,410.37
% OF TOTAL GROUP I
LOAN BALANCE: 1.90% 1.28% 0.63% 0.00%
NUMBER OF LOANS 87 55 36 2
% OF TOTAL GROUP I LOANS 2.06% 1.30% 0.85% 0.00%
GROUP II (ADJUSTABLE RATE)
PRINCIPAL BALANCE: 10,604,212.56 8,504,993.01 5,651,560.97 0.00
NUMBER OF LOANS 108 79 53 0
% OF TOTAL GROUP 2 LOANS 2.42% 1.77% 1.19% 0.00%
TOTAL PRINCIPAL
BALANCE: 16,341,595.87 12,386,285.83 7,560,973.39 107,410.37
% OF TOTAL LOAN BALANCE 2.11% 1.60% 0.97% 0.01%
TOTAL NUMBER OF LOANS 195 134 89 2
% OF TOTAL LOAN BALANCE 2.25% 1.54% 1.03% 0.02
DISTRIBUTION DATE: MARCH 25, 1998
DELINQUENT AND LOANS LOANS
FORECLOSURE LOAN IN IN
INFORMATION* BANKRUPTCY BANKRUPTCY
GROUP I (FIXED RATE)
PRINCIPAL BALANCE 690,741.09 1,700,957.25
% OF TOTAL GROUP I
LOAN BALANCE: 0.23% 0.56%
NUMBER OF LOANS 9 31
% OF TOTAL GROUP I LOANS 0.21% 0.73%
GROUP II (ADJUSTABLE RATE)
PRINCIPAL BALANCE: 920,714.40 3,054,723.69
% OF TOTAL GROUP II LOAN BALANCE 0.19% 0.64%
NUMBER OF LOANS 8 33
% OF TOTAL GROUP 2 LOANS 0.18% 0.74%
30 TO 59 60 TO 89 90 90+
DAYS DAYS DAYS DAYS
TOTAL PRINCIPAL
BALANCE: 16,341,595.87 12,386,285.83 7,560,973.39 107,410.37
% OF TOTAL LOAN BALANCE: 2.11% 1.60% 0.97% 0.01%
TOTAL NUMBER OF LOANS: 195 134 89 2
% OF TOTAL LOAN BALANCE: 2.25% 1.54% 1.03% 0.02%
LOANS LOANS
IN IN
BANKRUPTCY BANKRUPTCY
TOTAL PRINCIPAL BALANCE: 1,611,455.49 4,755,680.94
% OF TOTAL LOAN BALANCE: 0.21% 0.61%
TOTAL NUMBER OF LOANS: 17 64
% OF TOTAL LOAN BALANCE: 0.20% 0.74%
*DELINQUENCIES ARE INCLUSIVE OF FORECLOSURES, BANKRUPTCIES AND REO PROPERTY
90 DAYS 90+ DAYS
MORTGAGE LOAN SERVICING GROUP: ADVANTA
PRINCIPAL BALANCE: 6,767,871.53 107,410.37
NUMBER OF LOANS 78 2
MORTGAGE LOAN SERVICING GROUP: AMERIQUEST
PRINCIPAL BALANCE: 221,631.48 0.00
NUMBER OF LOANS: 3 0
MORTGAGE LOAN SERVICING GROUP: WENDOVER
PRINCIPAL BALANCE: 571,470.38 0.00
NUMBER OF LOANS: 8 0
GROUP I 60+ DAY DELINQUENT BALANCE: 5,898,115.61
GROUP II 60+ DAY DELINQUENT BALANCE: 14,156,553.98
REO LOAN INFORMATION: GROUP I GROUP II TOTAL
BOOK VALUE OF REAL ESTATE ACQUIRED
THROUGH FORECLOSURE: 0.00 0.00 0.00
AGGREGATE PRINCIPAL BALANCE
OF REO LOANS: 0.00 0.00 0.00
NUMBER OF REO LOANS: 0 0 0
ADVANTA 90+ DELINQUENT PERCENTAGE: 0.47%
AMERIQUEST 90+ DELINQUENT PERCENTAGE: 0.21%
WENDOVER 90+ DELINQUENT PERCENTAGE: 0.08%
GROUP I GROUP II TOTAL
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
SCHEDULED PRINCIPAL: 212,886.38 216,920.67 429,807.05
PRINCIPAL REPAYMENTS: 1,896,905.70 7,998,706.86 9,895,612.56
CURTAILMENTS: 62,882.68 54,701.68 117,584.36
REPURCHASES: 52,489.88 0.00 52,489.88
LIQUIDATION PROCEEDS: 0.00 0.00 0.00
EXTRA PRINCIPAL DISTRIBUTION AMOUNT: 179.81 649.94 829.75
PRE-FUNDED AMOUNTS DISTRIBUTED
AS PREPAYMENTS: 0.00 0.00 0.00
2,225,344.45 8,270,979.15 10,496,323.60
REALIZED LOSS INFORMATION:
GROUP I GROUP II TOTAL
CURRENT PERIODS REALIZED LOSS AMOUNT 0.00 0.00 0.00
CUMULATIVE REALIZED LOSSES SINCE INCEPTION 0.00 0.00 0.00
APPLIED REALIZED LOSS AMOUNT 0.00 0.00 0.00
UNPAID REALIZED LOSS AMOUNT 0.00 0.00 0.00
ANNUAL LOSS PERCENTAGE 0.00% 0.00% 0.00%
ADVANTA AMERIQUEST WENDOVER
CURRENT PERIODS REALIZED LOSS AMOUNT 0.00 0.00 0.00
CUMULATIVE REALIZED LOSSES SINCE INCEPTION 0.00 0.00 0.00
ANNUAL LOSS PERCENTAGE 0.00% 0.00% 0.00%
INTEREST CARRY-FORWARD AMOUNT
CLASS A-1 0.00
CLASS A-2 0.00
CLASS A-3 0.00
CLASS A-4 0.00
CLASS A-5 0.00
CLASS A-6 0.00
CLASS A-7 0.00
CLASS M-1F 0.00
CLASS M-1A 0.00
CLASS M-2F 0.00
CLASS M-2A 0.00
CLASS B-1F 0.00
CLASS B-1A 0.00
CLASS C-FIO 0.00
CLASS C-AIO 0.00
CASH REMITTANCE RECONCILLIATION ADVANTA AMERIQUEST WENDOVER
SCHEDULED INTEREST AMOUNT: 4,174,287.99 289,087.16 2,241,663.98
REPURCHASE INTEREST: 0.00 0.00 601.45
LIQUIDATION INTEREST: 0.00 0.00 0.00
TOTAL INTEREST 4,174,287.99 289,087.16 2,242,265.42
LESS: CURRENT SERVICING FEES (124,780.07) (13,382.94) (75,788.45)
LESS: CURRENT TRUSTEE FEES 0.00 0.00 0.00
LESS: CURRENT INSURANCE PREMIUM 0.00 0.00 0.00
LESS: DELINQUENT INTEREST (941,117.65) (22,180.70) (44,381.85)
LESS: PREPAYMENT INTEREST SHORTFALLS (2,661.78) (332.89) (7,162.64)
LESS: NON RECOVERABLE ADVANCES 0.00 0.00 0.00
PLUS: INTEREST ADVANCED 906,328.44 21,113.15 42,692.25
4,012,056.93 274,303.78 2,157,624.72
SCHEDULED PRINCIPAL: 266,279.59 27,326.04 136,201.42
PRINCIPAL PREPAYMENTS: 7,078,720.90 510,892.77 2,305,998.89
CURTAILMENTS: 52,225.94 6.61 65,351.81
LIQUIDATIONS: 0.00 0.00 0.00
REPURCHASES: 0.00 0.00 52,489.88
TOTAL PRINCIPAL: 7,397,226.43 538,225.42 2,560,042.00
LESS: DELINQUENT PRINCIPAL (50,984.58) (1,725.23) (2,548.72)
PLUS: PRINCIPAL ADVANCED 50,984.58 1,725.23 2,548.72
7,397,226.43 538,225.42 2,560,042.00
TOTAL REMITTANCE AMOUNTS: 11,409,283.36 812,529.20 4,717,666.72
