<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
April 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)
Delaware 333-47311 33-0787975
-------- --------- ----------
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
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, April 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: May 17, 1999
AMERICAN RESIDENTIAL EAGLE, INC.
By: /s/ Mark A. Conger
-------------------------------------
Mark A. Conger
Chief Financial Officer
(Principal Financial Officer 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, April 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-Mar-1999 11000 Broken Land Parkway
Distribution Date: 26-Apr-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 Current
Class CUSIP Description Rate Balance Distribution Distribution Realized Loss
=================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 02926PAA9 SEQ 5.02875% 27,712,944.47 123,876.86 16,682,435.04 0.00
A-2 02926PAB7 SEQ 5.14875% 232,093,000.00 1,062,212.30 0.00 0.00
M-1 02926PAC5 SEQ 5.43875% 46,029,000.00 222,524.64 0.00 0.00
M-2 02926OAD3 SEQ 5.63875% 17,365,000.00 87,037.24 0.00 0.00
B 02926PAE1 SEQ 6.33875% 17,365,000.00 97,842.13 0.00 0.00
X ARE98001X IO 0.15491% 0.00 46,894.65 0.00 0.00
O ARE98001O RES 0.00000% 0.00 0.00 0.00 0.00
INV CERT ARE98INVC INV 0.00000% 0.00 872,201.14 0.00 0.00
=================================================================================================================================
Totals 340,564,944.47 2,512,588.96 16,682,435.04 0.00
=================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
===================================================================
Ending Cumulative
Certificate Total Realized
Class Balance Distribution Losses
===================================================================
<S> <C> <C> <C>
A-1 11,030,509.43 16,806,311.90 0.00
A-2 232,093,000.00 1,062,212.30 0.00
M-1 46,029,000.00 222,524.64 0.00
M-2 17,365,000.00 87,037.24 0.00
B 17,365,000.00 97,842.13 0.00
X 0.00 46,894.65 0.00
O 0.00 0.00 0.00
INV CERT 0.00 872,201.14 0.00
===================================================================
Totals 323,882,509.43 19,195,024.00 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.
<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-Mar-1999 11000 Broken Land Parkway
Distribution Date: 26-Apr-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 846-2369
</TABLE>
Principal Distribution Statement
<TABLE>
<CAPTION>
=================================================================================================================================
Beginning Scheduled Unscheduled Total
Original Face Certificate Principal Principal Realized Principal
Class Amount Balance Distribution Distribution Accretion Loss(1) Reduction
=================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 143,970,000.00 27,712,944.47 187,242.21 16,495,192.83 0.00 0.00 16,682,435.04
A-2 232,093,000.00 232,093,000.00 0.00 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 0.00
M-2 17,365,000.00 17,365,000.00 0.00 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 0.00
X 0.00 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 0.00
INV CERT 0.00 0.00 0.00 0.00 0.00 0.00 0.00
=================================================================================================================================
Totals 456,822,000.00 340,564,944.47 187,242.21 16,495,192.83 0.00 0.00 16,682,435.04
=================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
=================================================================
Ending Ending
Certificate Certificate Total Principal
Class Balance Percentage Distribution
=================================================================
<S> <C> <C> <C>
A-1 11,030,509.43 0.07661672 16,682,435.04
A-2 232,093,000.00 1.00000000 0.00
M-1 46,029,000.00 1.00000000 0.00
M-2 17,365,000.00 1.00000000 0.00
B 17,365,000.00 1.00000000 0.00
X 0.00 0.00000000 0.00
O 0.00 0.00000000 0.00
INV CERT 0.00 0.00000000 0.00
=================================================================
Totals 323,882,509.43 0.70899061 16,682,435.04
=================================================================
</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-Mar-1999 11000 Broken Land Parkway
Distribution Date: 26-Apr-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 846-2369
</TABLE>
Principal Distribution Factors Statement
<TABLE>
<CAPTION>
===================================================================================================================================
Beginning Scheduled Unscheduled Total
Original Face Certificate Principal Principal Realized Principal
Class(2) Amount Balance Distribution Distribution Accretion Loss(3) Reduction
===================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 143,970,000.00 192.49110558 1.30056408 114.57381975 0.00000000 0.00000000 115.87438383
A-2 232,093,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M-1 46,029,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M-2 17,365,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B 17,365,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
O 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
INV CERT 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
===================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
=================================================================
Ending Ending
Certificate Certificate Total Principal
Class(2) Balance Percentage Distribution
=================================================================
<S> <C> <C> <C>
A-1 76.61672175 0.07661672 115.87438383
A-2 1000.00000000 1.00000000 0.00000000
M-1 1000.00000000 1.00000000 0.00000000
M-2 1000.00000000 1.00000000 0.00000000
B 1000.00000000 1.00000000 0.00000000
X 0.00000000 0.00000000 0.00000000
O 0.00000000 0.00000000 0.00000000
INV CERT 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-Mar-1999 11000 Broken Land Parkway
Distribution Date: 26-Apr-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 846-2369
</TABLE>
Interest Distribution Statement
<TABLE>
<CAPTION>
=================================================================================================================================
Beginning
Current Certificate/ Current Payment of Current Non-Supported
Original Face Certificate Notional Accrued Unpaid Interest Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall Shortfall
=================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 143,970,000.00 5.02875% 27,712,944.47 123,876.86 0.00 0.00 0.00
A-2 232,093,000.00 5.14875% 232,093,000.00 1,062,212.30 0.00 0.00 0.01
M-1 46,029,000.00 5.43875% 46,029,000.00 222,524.64 0.00 0.00 0.00
M-2 17,365,000.00 5.63875% 17,365,000.00 87,037.24 0.00 0.00 0.00
B 17,365,000.00 6.33875% 17,365,000.00 97,842.13 0.00 0.00 0.00
X 0.00 0.15491% 340,564,944.47 46,894.65 0.00 0.00 0.00
O 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00
INV CERT 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00
=================================================================================================================================
Totals 456,822,000.00 1,640,387.82 0.00 0.00 0.01
=================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
=========================================================================
Remaining Ending
Unpaid Certificate/
Realized Total Interest Interest Notional
Class Losses(4) Distribution Shortfall Balance
=========================================================================
<S> <C> <C> <C> <C>
A-1 0.00 123,876.86 0.00 11,030,509.43
A-2 0.00 1,062,212.30 0.00 232,093,000.00
M-1 0.00 222,524.64 0.00 46,029,000.00
M-2 0.00 87,037.24 0.00 17,365,000.00
B 0.00 97,842.13 0.00 17,365,000.00
X 0.00 46,894.65 0.00 323,882,509.43
O 0.00 0.00 0.00 0.00
INV CERT 0.00 872,201.14 0.00 0.00
=========================================================================
Totals 0.00 2,512,588.96 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-Mar-1999 11000 Broken Land Parkway
Distribution Date: 26-Apr-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 846-2369
</TABLE>
Interest Distribution Factors Statement
<TABLE>
<CAPTION>
==================================================================================================================================
Beginning Payment of
Current Certificate/ Current Unpaid Current Non-Supported
Original Face Certificate Notional Accrued Interest Interest Interest
Class(5) Amount Rate Balance Interest Shortfall Shortfall Shortfall
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 143,970,000.00 5.02875% 192.49110558 0.86043523 0.00000000 0.00000000 0.00000000
A-2 232,093,000.00 5.14875% 1000.00000000 4.57666668 0.00000000 0.00000000 0.00000000
M-1 46,029,000.00 5.43875% 1000.00000000 4.83444437 0.00000000 0.00000000 0.00000000
M-2 17,365,000.00 5.63875% 1000.00000000 5.01222229 0.00000000 0.00000000 0.00000000
B 17,365,000.00 6.33875% 1000.00000000 5.63444457 0.00000000 0.00000000 0.00000000
X 0.00 0.15491% 745.50907021 0.10265410 0.00000000 0.00000000 0.00000000
O 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
INV CERT 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
==================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
===================================================================================
Remaining Ending
Unpaid Certificate/
Realized Total Interest Interest Notional
Class(5) Losses(6) Distribution Shortfall Balance
===================================================================================
<S> <C> <C> <C> <C>
A-1 0.00000000 0.86043523 0.00000000 76.61672175
A-2 0.00000000 4.57666668 0.00000000 1000.00000000
M-1 0.00000000 4.83444437 0.00000000 1000.00000000
M-2 0.00000000 5.01222229 0.00000000 1000.00000000
B 0.00000000 5.63444457 0.00000000 1000.00000000
X 0.00000000 0.10265410 0.00000000 708.99061216
O 0.00000000 0.00000000 0.00000000 0.00000000
INV CERT 0.00000000 50000.00000000 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-Mar-1999 11000 Broken Land Parkway
Distribution Date: 26-Apr-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-Mar-1999 11000 Broken Land Parkway
Distribution Date: 26-Apr-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 884-2369
</TABLE>
Certificateholder Account Statement
<TABLE>
<CAPTION>
===============================================================================
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 19,357,608.71
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 396,202.08
Realized Losses (329,911.55)
-------------
Total Deposits 19,423,899.24
-------------
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 228,875.24
Payment of Interest and Principal 19,195,024.00
-------------
Total Withdrawals (Pool Distribution Amount) 19,423,899.24
Ending Balance 0.00
=============
===============================================================================
</TABLE>
<TABLE>
<CAPTION>
====================================================================================
OTHER ACCOUNTS
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>
<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 144,506.86
Management Fee 1,000.00
Special Servicing Fee 80,694.99
Master Servicing Fee 2,167.62
Trustee Fee 505.77
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 228,875.24
==========
================================================================================
</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-Mar-1999 11000 Broken Land Parkway
Distribution Date: 26-Apr-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 846-2369
</TABLE>
<TABLE>
<CAPTION>
===================================================================================================
CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
Percentage Delinquent
Based On
---------------------------
Current
Number Of Unpaid Principal Number Unpaid
Loans Balance of Loans Balance
--------- ---------------- -------- ---------
<S> <C> <C> <C> <C>
30 Days 91 11,823,434.74 3.333333% 3.581404%
60 Days 34 3,682,604.98 1.245421% 1.115488%
90+ Days 36 3,624,247.05 1.318681% 1.097811%
Foreclosure 153 17,441,238.44 5.604396% 5.283078%
REO 24 4,151,006.39 0.879121% 1.257370%
--- ------------- --------- ---------
Totals 338 40,722,531.60 12.380952% 12.335151%
</TABLE>
Current Period Realized Loss - Includes Interest Shortfall 329,911.55
Cumulative Realized Losses - Includes Interest Shortfall 526,822.45
Current Period Class A Insufficient Funds
Principal Balance of Contaminated Properties 0.00
Periodic Advance 396,202.08
================================================================================
<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-Mar-1999 11000 Broken Land Parkway
Distribution Date: 26-Apr-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 846-2369
</TABLE>
<TABLE>
<CAPTION>
=====================================================================================
COLLATERAL STATEMENT
Collateral Description 6 Month LIBOR ARM
<S> <C>
Weighted Average Gross Coupon 10.627100%
Weighted Average Net Coupon 9.847885%
Weighted Average Pass-Through Rate 9.835200%
Weighted Average Maturity (Stepdown Calculation) 344
Beginning Scheduled Collateral Loan Count 2,848
Number of Loans Paid in Full 118
Ending Scheduled Collateral Loan Count 2,730
Beginning Scheduled Collateral Balance 346,816,468.85
Ending Scheduled Collateral Balance 330,134,033.81
Ending Actual Collateral Balance at 31-Mar-1999 330,422,731.45
Monthly P&I Constant 3,258,617.95
Ending Scheduled Balance for Premium Loans 330,134,033.81
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-Mar-1999 11000 Broken Land Parkway
Distribution Date: 26-Apr-1999 Columbia, MD 21044
Telephone: (301) 815-6600
Facsimile: (410) 846-2369
</TABLE>
<TABLE>
<CAPTION>
==============================================================================================================
<S> <C>
Bond Scheduled/Unscheduled Principal $187,242.21/$16,165,281.28
Bond Interest and Interest Rate $1,640,387.82/5.41875%
Ending Bond Balance $323,882,509.43
Excess Mortgage Amount $1,202,112.69
REO loan number/REO principal balance 7311400/$115,914.89
REO loan number/REO principal balance 7324593/$402,641.25
REO loan number/REO principal balance 7360977/$321,369.11
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 7312994/$93,341.16
REO loan number/REO principal balance 7370570/$123,879.70
REO loan number/REO principal balance 7434335/$183,910.44
REO loan number/REO principal balance 7353923/$273,193.44
REO loan number/REO principal balance 7311129/$178,139.07
REO loan number/REO principal balance 7342173/$580,977.70
REO loan number/REO principal balance 7296429/$644,329.37
REO loan number/REO principal balance 7397300/$89,635.59
REO loan number/REO principal balance 7413214/$75,562.38
REO loan number/REO principal balance 7415805/$25,662.76
REO loan number/REO principal balance 7401789/$373,274.76
REO loan number/REO principal balance 3279544/$76,822.13
REO loan number/REO principal balance 7320948/$51,695.20
REO loan number/REO principal balance 3282324/$30,750.00
REO loan number/REO principal balance 7390974/$82,570.80
REO loan number/REO principal balance 7425341/$56,123.20
REO loan number/REO principal balance 7433428/$91,792.62
REO loan number/REO principal balance 7434129/$77,139.93
February Scheduled Payments/Scheduled Payments for delinquent loans 60 days + $3,311,067.96/$340,052.33
March Scheduled Payments/Scheduled Payments for delinquent loans 60 days + $3,173,238.96/$404,127.32
April Scheduled Payments/Scheduled Payments for delinquent loans 60 days + $3,049,746.25/$358,228.86
==============================================================================================================
</TABLE>
