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<PAGE> 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
February 25, 1999
Date of Report (Date of Earliest Event Reported)
American Residential Eagle, Inc. (as Depositor of American Residential Eagle
Certificate Trust 1998-1, Issuer of the Mortgage-Backed Callable Certificates,
Series 1998-1, under a Trust Agreement dated June 1, 1998, and as Depositor of
American Residential Eagle Bond Trust 1998-1, Issuer of the Class A
Collateralized Callable Mortgage Bonds under an Indenture dated June 1, 1998)
AMERICAN RESIDENTIAL EAGLE, INC.
(Exact Name of Registrant as Specified in Its Charter)
<TABLE>
<CAPTION>
<S> <C> <C>
Delaware 333-47311 33-0787975
- --------------------------------------------- ----------------------- -----------------------------------
(State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)
</TABLE>
445 Marine View Avenue, Suite 100, Del Mar, CA 92014
----------------------------------------------------
(Address of Principal Executive Offices)
(619) 350-5001
--------------
(Registrant's Telephone Number,
Including Area Code)
Not Applicable
--------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE> 2
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. OTHER EVENTS
American Residential Eagle, Inc. has previously registered
the offer and sale of Mortgage-Backed Callable
Certificates, Series 1998-1 (the "Certificates") issued by
American Residential Eagle Certificate Trust 1998-1 and
Class A Collateralized Callable Mortgage Bonds issued by
American Residential Eagle Bond Trust 1998-1 (the "Bonds").
The following exhibit which relates specifically to the
Certificates and the Bonds is included with this Current
Report:
Item 7(c). Exhibits
10.1 Monthly Payment Date Statement relating to the
distribution to Certificateholders, February 25,
1999.
<PAGE> 3
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: March 18, 1999
AMERICAN RESIDENTIAL EAGLE, INC.
By: /s/ Mark A. Conger
---------------------------------
Mark A. Conger
Chief Financial Officer
(Principal Financial Officer and
and Principal Accounting Officer)
<PAGE> 4
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit Number Page Number
- -------------- -----------
<S> <C>
10.1 Monthly Payment Date Statement relating to the distribution to
Certificateholders, February 25, 1999...................................................5
</TABLE>
<PAGE> 1
<TABLE>
<S> <C> <C>
American Residential Eagle Certificate Trust ARE Contact: Customer Service
Mortgage Pass-Through Certificates Series 1998-1 Norwest Bank Minnesota, N.A.
Securities Administration Services
Record Date: 31-Jan-1999 11000 Broken Land Parkway
Distribution Date: 25-Feb-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 884-2369
</TABLE>
EXHIBIT 10.1
Certificateholder Distribution Summary
<TABLE>
<CAPTION>
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
- ------- --------- ----------- ------------ -------------- ------------ -------------
<S> <C> <C> <C> <C> <C> <C>
A-1 02926PAA9 SEQ 5.02969% 57,538,831.20 249,207.69 15,837,889.95
A-2 02926PAB7 SEQ 5.14969% 232,093,000.00 1,029,206.03 0.00
M-1 02926PAC5 SEQ 5.43969% 46,029,000.00 215,608.01 0.00
M-2 02926OAD3 SEQ 5.63969% 17,365,000.00 84,331.38 0.00
B 02926PAE1 SEQ 6.33969% 17,365,000.00 94,798.62 0.00
X ARE98001X IO 0.17384% 0.00 55,445.72 0.00
O ARE98001O RES 0.00000% 0.00 0.00 0.00
INV CERT ARE98INVC INV 0.00000% 0.00 1,285,967.36 0.00
-------------- ------------ -------------
Totals 370,390,831.20 3,014,564.81 15,837,889.95
============== ============ =============
<CAPTION>
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
- ------- -------- -------------- ------------- ----------
<S> <C> <C> <C> <C>
A-1 0.00 41,700,941.25 16,087,097.64 0.00
A-2 0.00 232,093,000.00 1,029,206.03 0.00
M-1 0.00 46,029,000.00 215,608.01 0.00
M-2 0.00 17,365,000.00 84,331.38 0.00
B 0.00 17,365,000.00 94,798.62 0.00
X 0.00 0.00 55,445.72 0.00
O 0.00 0.00 0.00 0.00
INV CERT 0.00 0.00 1,285,967.36 0.00
---- -------------- ------------- ----
Totals 0.00 354,552,941.25 18,852,454.76 0.00
==== ============== ============= ====
</TABLE>
All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee
Edward M. Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
11-Mar-1999 4:52P.M.
<PAGE> 2
<TABLE>
<S> <C> <C>
American Residential Eagle Certificate Trust ARE Contact: Customer Service
Mortgage Pass-Through Certificates Series 1998-1 Norwest Bank Minnesota, N.A.
Securities Administration Services
Record Date: 31-Jan-1999 11000 Broken Land Parkway
Distribution Date: 25-Feb-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 884-2369
</TABLE>
Principal Distribution Statement
<TABLE>
<CAPTION>
Beginning Scheduled Unscheduled
Original Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss(1)
- ----- -------------- -------------- ------------ ------------- --------- --------
<S> <C> <C> <C> <C> <C> <C>
A-1 143,970,000.00 57,538,831.20 198,452.66 15,639,437.29 0.00 0.00
A-2 232,093,000.00 232,093,000.00 0.00 0.00 0.00 0.00
M-1 46,029,000.00 46,029,000.00 0.00 0.00 0.00 0.00
M-2 17,365,000.00 17,365,000.00 0.00 0.00 0.00 0.00
B 17,365,000.00 17,365,000.00 0.00 0.00 0.00 0.00
X 0.00 0.00 0.00 0.00 0.00 0.00
O 0.00 0.00 0.00 0.00 0.00 0.00
INV CERT 0.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- ---------- ------------- ---- ----
Totals 456,822,000.00 370,390,831.20 198,452.66 15,639,437.29 0.00 0.00
============== ============== ========== ============= ==== ====
<CAPTION>
Ending Ending
Total Principal Certificate Certificate Total Principal
Class Reduction Balance Percentage Distribution
- ----- --------------- -------------- ----------- ---------------
<S> <C> <C> <C> <C>
A-1 15,837,889.95 41,700,941.25 0.28965021 15,837,889.95
A-2 0.00 232,093,000.00 1.00000000 0.00
M-1 0.00 46,029,000.00 1.00000000 0.00
M-2 0.00 17,365,000.00 1.00000000 0.00
B 0.00 17,365,000.00 1.00000000 0.00
X 0.00 0.00 0.00000000 0.00
O 0.00 0.00 0.00000000 0.00
INV CERT 0.00 0.00 0.00000000 0.00
------------- -------------- ---------- -------------
Totals 15,837,889.95 354,552,941.25 0.77612930 15,837,889.95
============= ============== ========== =============
</TABLE>
(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.
<PAGE> 3
<TABLE>
<S> <C> <C>
American Residential Eagle Certificate Trust ARE Contact: Customer Service
Mortgage Pass-Through Certificates Series 1998-1 Norwest Bank Minnesota, N.A.
Securities Administration Services
Record Date: 31-Jan-1999 11000 Broken Land Parkway
Distribution Date: 25-Feb-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 884-2369
</TABLE>
Principal Distribution Factors Statement
<TABLE>
<CAPTION>
Beginning Scheduled Unscheduled
Original Face Certificate Principal Principal Realized
Class(2) Amount Balance Distribution Distribution Accretion Loss(3)
- --------- -------------- -------------- ------------ ------------ ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
A-1 143,970,000.00 399.65847885 1.37843065 108.62983462 0.00000000 0.00000000
A-2 232,093,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M-1 46,029,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M-2 17,365,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B 17,365,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
O 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
INV CERT 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<CAPTION>
Ending Ending
Total Principal Certificate Certificate Total Principal
Class(2) Reduction Balance Percentage Distribution
- --------- --------------- ------------- ----------- ---------------
<S> <C> <C> <C> <C>
A-1 110.00826526 289.65021359 0.28965021 110.00826526
A-2 0.00000000 1000.00000000 1.00000000 0.00000000
M-1 0.00000000 1000.00000000 1.00000000 0.00000000
M-2 0.00000000 1000.00000000 1.00000000 0.00000000
B 0.00000000 1000.00000000 1.00000000 0.00000000
X 0.00000000 0.00000000 0.00000000 0.00000000
O 0.00000000 0.00000000 0.00000000 0.00000000
INV CERT 0.00000000 0.00000000 0.00000000 0.00000000
</TABLE>
(2) All Denominations Are Per $1,000.
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses
Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A
Full Description.
<PAGE> 4
<TABLE>
<S> <C> <C>
American Residential Eagle Certificate Trust ARE Contact: Customer Service
Mortgage Pass-Through Certificates Series 1998-1 Norwest Bank Minnesota, N.A.
Securities Administration Services
Record Date: 31-Jan-1999 11000 Broken Land Parkway
Distribution Date: 25-Feb-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 884-2369
</TABLE>
Interest Distribution Statement
<TABLE>
<CAPTION>
Beginning
Current Certificate/ Current Payment of Current
Original Face Certificate Notional Accrued Unpaid Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
- ----- -------------- ----------- -------------- ------------ --------------- ---------
<S> <C> <C> <C> <C> <C> <C>
A-1 143,970,000.00 5.02969% 57,538,831.20 249,207.69 0.00 0.00
A-2 232,093,000.00 5.14969% 232,093,000.00 1,029,206.03 0.00 0.00
M-1 46,029,000.00 5.43969% 46,029,000.00 215,608.01 0.00 0.00
M-2 17,365,000.00 5.63969% 17,365,000.00 84,331.38 0.00 0.00
B 17,365,000.00 6.33969% 17,365,000.00 94,798.62 0.00 0.00
X 0.00 0.17384% 370,390,831.20 55,445.72 0.00 0.00
O 0.00 0.00000% 0.00 0.00 0.00 0.00
INV CERT 0.00 0.00000% 0.00 0.00 0.00 0.00
-------------- ------------ ---- ----
Totals 456,822,000.00 1,728,597.45 0.00 0.00
============== ============ ==== ====
<CAPTION>
Non- Remaining Ending
Supported Unpaid Certificate/
Interest Realized Total Interest Interest Notional
Class Shortfall Losses(4) Distribution Shortfall Balance
- ----- --------- --------- -------------- ---------- --------------
<S> <C> <C> <C> <C> <C>
A-1 0.00 0.00 249,207.69 0.00 41,700,941.25
A-2 0.01 0.00 1,029,206.03 0.00 232,093,000.00
M-1 0.00 0.00 215,608.01 0.00 46,029,000.00
M-2 0.00 0.00 84,331.38 0.00 17,365,000.00
B 0.00 0.00 94,798.62 0.00 17,365,000.00
X 0.00 0.00 55,445.72 0.00 354,552,941.25
O 0.00 0.00 0.00 0.00 0.00
INV CERT 0.00 0.00 1,285,967.36 0.00 0.00
---- ---- ------------ ----
Totals 0.01 0.00 3,014,564.81 0.00
==== ==== ============ ====
</TABLE>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses
Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A
Full Description.
<PAGE> 5
<TABLE>
<S> <C> <C>
American Residential Eagle Certificate Trust ARE Contact: Customer Service
Mortgage Pass-Through Certificates Series 1998-1 Norwest Bank Minnesota, N.A.
Securities Administration Services
Record Date: 31-Jan-1999 11000 Broken Land Parkway
Distribution Date: 25-Feb-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 884-2369
</TABLE>
Interest Distribution Factors Statement
<TABLE>
<CAPTION>
Beginning
Current Certificate/ Current Payment of Current
Original Face Certificate Notional Accrued Unpaid Interest Interest
Class(5) Amount Rate Balance Interest Shortfall Shortfall
- --------- -------------- ----------- ------------ ---------- --------------- ----------
<S> <C> <C> <C> <C> <C> <C>
A-1 143,970,000.00 5.02969% 399.65847885 1.73096958 0.00000000 0.00000000
A-2 232,093,000.00 5.14969% 1000.00000000 4.43445528 0.00000000 0.00000000
M-1 46,029,000.00 5.43969% 1000.00000000 4.68417758 0.00000000 0.00000000
M-2 17,365,000.00 5.63969% 1000.00000000 4.85639965 0.00000000 0.00000000
B 17,365,000.00 6.33969% 1000.00000000 5.45917766 0.00000000 0.00000000
X 0.00 0.17384% 810.79902281 0.12137270 0.00000000 0.00000000
O 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
INV CERT 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<CAPTION>
Non- Remaining Ending
Supported Unpaid Certificate/
Interest Realized Total Interest Interest Notional
Class (5) Shortfall Losses(6) Distribution Shortfall Balance
- --------- ---------- ---------- -------------- ----------- ------------
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 0.00000000 1.73096958 0.00000000 289.65021359
A-2 0.00000000 0.00000000 4.43445528 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 4.68417758 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 4.85639965 0.00000000 1000.00000000
B 0.00000000 0.00000000 5.45917766 0.00000000 1000.00000000
X 0.00000000 0.00000000 0.12137270 0.00000000 776.12930474
O 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
INV CERT 0.00000000 0.00000000 00000.00000000 0.00000000 0.00000000
</TABLE>
(5) All Denominations Are Per $1,000.
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses
Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A
Full Description.
<PAGE> 6
<TABLE>
<S> <C> <C>
American Residential Eagle Certificate Trust ARE Contact: Customer Service
Mortgage Pass-Through Certificates Series 1998-1 Norwest Bank Minnesota, N.A.
Securities Administration Services
Record Date: 31-Jan-1999 11000 Broken Land Parkway
Distribution Date: 25-Feb-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 884-2369
</TABLE>
Certificate Component Statement
<TABLE>
<CAPTION>
Component Beginning Ending Beginning Ending Ending
Pass-Through Notational Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
----- ------------ ---------- ------- ------- --------- ----------
<S> <C> <C> <C> <C> <C> <C>
0C 0.00000% 0.00 0.00 6,251,524.38 6,251,524.38 99.96233490%
</TABLE>
<PAGE> 7
<TABLE>
<S> <C> <C>
American Residential Eagle Certificate Trust ARE Contact: Customer Service
Mortgage Pass-Through Certificates Series 1998-1 Norwest Bank Minnesota, N.A.
Securities Administration Services
Record Date: 31-Jan-1999 11000 Broken Land Parkway
Distribution Date: 25-Feb-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 884-2369
</TABLE>
Certificateholder Account Statement
CERTIFICATE ACCOUNT
<TABLE>
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 18,787,496.49
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 391,390.38
Realized Losses (66,578.55)
-------------
Total Deposits 19,112,308.32
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 259,853.56
Payment of Interest and Principal 18,852,454.76
-------------
Total Withdrawals (Pool Distribution Amount) 19,112,308.32
Ending Balance 0.00
=============
</TABLE>
OTHER ACCOUNTS
<TABLE>
<CAPTION>
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
- ---------------- --------- ----------- -------- -------
<S> <C> <C> <C> <C>
Reserve Fund 0.00 0.00 0.00 0.00
</TABLE>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<TABLE>
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
--------
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
========
</TABLE>
SERVICING FEES
<TABLE>
<S> <C>
Gross Servicing Fee 156,934.32
Management Fee 1,000.00
Trustee Fee 99,015.95
Special Servicing Fee 2,354.00
Master Servicing Fee 549.29
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 259,853.56
==========
</TABLE>
<PAGE> 8
<TABLE>
<S> <C> <C>
American Residential Eagle Certificate Trust ARE Contact: Customer Service
Mortgage Pass-Through Certificates Series 1998-1 Norwest Bank Minnesota, N.A.
Securities Administration Services
Record Date: 31-Jan-1999 11000 Broken Land Parkway
Distribution Date: 25-Feb-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 884-2369
</TABLE>
CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
<TABLE>
<CAPTION>
Percentage Delinquent
Based On
-------------------------------
Current
Number Of Unpaid Principal Number Unpaid
Loans Balance of Loans Balance
--------- ---------------- --------- ---------
<S> <C> <C> <C> <C>
30 Days 100 10,918,218.24 3.394433% 3.026076%
60 Days 54 5,991,558.00 1.832994% 1.660611%
90+ Days 59 6,170,047.10 2.002716% 1.710081%
Foreclosure 158 17,714,140.59 5.363204% 4.909623%
REO 18 3,537,315.58 0.610998% 0.980397%
--- ------------- ---------- ----------
Totals 389 44,331,279.51 13.204345% 12.286788%
=== ============= ========== ==========
</TABLE>
<TABLE>
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 66,578.55
Cumulative Realized Losses - Includes Interest Shortfall 66.578.55
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 391,390.38
</TABLE>
<PAGE> 9
<TABLE>
<S> <C> <C>
American Residential Eagle Certificate Trust ARE Contact: Customer Service
Mortgage Pass-Through Certificates Series 1998-1 Norwest Bank Minnesota, N.A.
Securities Administration Services
Record Date: 31-Jan-1999 11000 Broken Land Parkway
Distribution Date: 25-Feb-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 884-2369
</TABLE>
COLLATERAL STATEMENT
<TABLE>
<CAPTION>
Collateral Description 6 Month LIBOR ARM
- ---------------------- -----------------
<S> <C>
Weighted Average Gross Coupon 10.644600%
Weighted Average Net Coupon 9.829100%
Weighted Average Pass-Through Rate 9.816670%
Weighted Average Maturity (Stepdown Calculation) 346
Beginning Scheduled Collateral Loan Count 3,050
Number of Loans Paid in Full 104
Ending Scheduled Collateral Loan Count 2,946
Beginning Scheduled Collateral Balance 376,642,355.58
Ending Scheduled Collateral Balance 360,804,465.63
Ending Actual Collateral Balance at 31-Jan-1999 361,096,611.63
Monthly P&I Constant 3,539,449.57
Ending Scheduled Balance for Premium Loans 360,804,465.63
Required Overcollateralized Amount 6,251,524.38
Overcollateralized Increase Amount 0.00
Overcollateralized Reduction Amount 0.00
Specified O/C Amount 0.00
Overcollateralized Amount 6,251,524.38
Overcollateralized Deficiency Amount 0.00
Base Overcollateralization Amount 0.00
</TABLE>
<PAGE> 10
<TABLE>
<S> <C> <C>
American Residential Eagle Certificate Trust ARE Contact: Customer Service
Mortgage Pass-Through Certificates Series 1998-1 Norwest Bank Minnesota, N.A.
Securities Administration Services
Record Date: 31-Jan-1999 11000 Broken Land Parkway
Distribution Date: 25-Feb-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 884-2369
</TABLE>
<TABLE>
<S> <C>
Bond Scheduled/Unscheduled Principal $198,452.66/$15,572,858.74
Bond Interest and Interest Rate 5.41969%/$1,728,597.45
Ending Bond Balance $ 354,552,941.25
Excess Mortgage Amount $ 1,352,545.91
REO loan number/REO principal balance 7326432/$187,491.88
REO loan number/REO principal balance 7271935/$59,920.01
REO loan number/REO principal balance 7374630/$44,800.69
REO loan number/REO principal balance 7401573/$97,560.19
REO loan number/REO principal balance 7393283/$182,669.16
REO loan number/REO principal balance 7312994/$93,341.16
REO loan number/REO principal balance 7434335/$183,910.44
REO loan number/REO principal balance 0007353923/$273,193.44
REO loan number/REO principal balance 0007311129/$178,139.07
REO loan number/REO principal balance 0007742257/$580,977.70
REO loan number/REO principal balance 0007296429/$644,329.37
REO loan number/REO principal balance 0007397300/$89,635.59
REO loan number/REO principal balance 0007413214/$75,562.38
REO loan number/REO principal balance 0007415805/$25,662.76
REO loan number/REO principal balance 0007327612/$339,274.85
REO loan number/REO principal balance 0007401789/$373,274.76
REO loan number/REO principal balance 003279544/$76,822.13
REO loan number/REO principal balance 0008029084/$30,750.00
December Scheduled Payments/Scheduled Payments for delinquent loans 60 days+ $ 3,521,279.14/$336,236.88
January Scheduled Payments/Scheduled Payments for delinquent loans 60 days+ $ 3,432,240.51/$354,376.72
February Scheduled Payments/Scheduled Payments for delinquent loans 60 days+ $ 3,311,067.96/$340,052.33
</TABLE>
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