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Previous: AMERICAN RESIDENTIAL EAGLE BOND TRUST 1999-2 COLLATERALIZED, 8-K, 2000-10-04 |
Next: STOCKGROUP COM HOLDINGS INC, PRE 14A, 2000-10-04 |
<PAGE> 1
EXHIBIT 10.1
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
Certificateholder Distribution Summary
<TABLE>
<CAPTION>
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
----- ----- ----------- ---- ------- ------------
<S> <C> <C> <C> <C> <C>
A-1 02926NAB2 SEQ 6.96000% 276,794,576.13 1,658,922.16
A-2 02926NAC0 SEQ 7.09000% 53,444,204.91 315,766.18
INV_CERT AMINV1992 SEQ 0.00000% 10,844,795.18 2,224,090.74
-------------- ------------
Totals 341,083,576.22 4,198,779.08
-------------- ------------
</TABLE>
<TABLE>
<CAPTION>
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
----- ------------ ---- ------- ------------ ------
<S> <C> <C> <C> <C> <C>
A-1 3,268,367.41 0.00 273,526,208.72 4,927,289.57 0.00
A-2 1,076,562.15 0.00 52,367,642.76 1,392,328.33 0.00
INV_CERT 0.00 0.00 8,939,695.46 2,224,090.74 0.00
------------ ---- -------------- ------------ ----
Totals 4,344,929.56 0.00 334,833,546.94 8,543,708.64 0.00
------------ ---- -------------- ------------ ----
</TABLE>
All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.
Page 1
<PAGE> 2
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
Principal Distribution Statement
<TABLE>
<CAPTION>
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class Amount Balance Distribution Distribution Accretion
----- ------ ------- ------------ ------------ ---------
<S> <C> <C> <C> <C> <C>
A-1 332,350,000.00 276,794,576.13 170,713.37 3,097,654.04 0.00
A-2 61,750,000.00 53,444,204.91 54,596.99 1,021,965.16 0.00
INV_CERT 10,223,416.68 10,844,795.18 0.00 0.00 0.00
-------------- -------------- ---------- ------------ ----
Totals 404,323,416.68 341,083,576.22 225,310.36 4,119,619.20 0.00
-------------- -------------- ---------- ------------ ----
</TABLE>
<TABLE>
<CAPTION>
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (1) Reduction Balance Percentage Distribution
----- -------- --------- ------- ---------- ------------
<S> <C> <C> <C> <C> <C>
A-1 0.00 3,268,367.41 273,526,208.72 0.82300650 3,268,367.41
A-2 0.00 1,076,562.15 52,367,642.76 0.84805899 1,076,562.15
INV_CERT 0.00 0.00 8,939,695.46 0.87443325 0.00
---- ------------ -------------- ---------- ------------
Totals 0.00 4,344,929.56 334,833,546.94 0.82813296 4,344,929.56
---- ------------ -------------- ---------- ------------
</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 2
<PAGE> 3
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
Principal Distribution Factors Statement
<TABLE>
<CAPTION>
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class (2) Amount Balance Distribution Distribution Accretion Loss (3)
--------- ------ ------- ------------ ------------ --------- --------
<S> <C> <C> <C> <C> <C> <C>
A-1 332,350,000.00 832.84060818 0.51365539 9.32045747 0.00000000 0.00000000
A-2 61,750,000.00 865.49319692 0.88416178 16.55004308 0.00000000 0.00000000
INV_CERT 10,223,416.68 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
</TABLE>
<TABLE>
<CAPTION>
Total Ending Ending Total
Principal Certificate Certificate Principal
Class (2) Reduction Balance Percentage Distribution
--------- --------- ------- ---------- ------------
<S> <C> <C> <C> <C>
A-1 9.83411286 823.00649532 0.82300650 9.83411286
A-2 17.43420486 848.05899206 0.84805899 17.43420486
INV_CERT 0.00000000 0.00000000 0.87443325 0.00000000
</TABLE>
All Denominations are Per 1000
(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 3
<PAGE> 4
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
Interest Distribution Statement
<TABLE>
<CAPTION>
Beginning
Original Current Certificate/ Current Payment of
Face Certificate Notional Accrued Unpaid
Class Amount Rate Balance Interest Interest
----- ------ ---- ------- -------- --------
<S> <C> <C> <C> <C> <C>
A-1 332,350,000.00 6.96000% 276,794,576.13 1,658,922.16 0.00
A-2 61,750,000.00 7.09000% 53,444,204.91 315,766.18 0.00
INV_CERT 10,223,416.68 0.00000% 10,844,795.18 0.00 0.00
-------------- ------------ ----
Totals 404,323,416.68 1,974,688.34 0.00
-------------- ------------ ----
</TABLE>
<TABLE>
<CAPTION>
Remaining Ending
Current Non-Supported Total Unpaid Certificate/
Interest Interest Realized Interest Interest Notional
Class Shortfall Shortfall Loss (4) Distribution Shortfall Balance
----- --------- --------- -------- ------------ --------- -------
<S> <C> <C> <C> <C> <C> <C>
A-1 0.00 0.00 0.00 1,658,922.16 0.00 273,526,208.72
A-2 0.00 0.00 0.00 315,766.18 0.00 52,367,642.76
INV_CERT 0.00 0.00 0.00 2,224,090.74 0.00 8,939,695.46
---- ---- ---- ------------ ----
Totals 0.00 0.00 0.00 4,198,779.08 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 4
<PAGE> 5
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
Interest Distribution Factors Statement
<TABLE>
<CAPTION>
Beginning Payment of
Original Current Certificate/ Current Unpaid
Face Certificate Notional Accrued Interest
Class (5) Amount Rate Balance Interest Shortfall
--------- ------ ---- ------- -------- ---------
<S> <C> <C> <C> <C> <C>
A-1 332,350,000.00 6.96000% 832.84060818 4.99149138 0.00000000
A-2 61,750,000.00 7.09000% 865.49319692 5.11362235 0.00000000
INV_CERT 10,223,416.68 0.00000% 0.00000000 0.00000000 0.00000000
</TABLE>
<TABLE>
<CAPTION>
Remaining Ending
Current Non-Supported Total Unpaid Certificate/
Interest Interest Realized Interest Interest Notional
Class (5) Shortfall Shortfall Loss (6) Distribution Shortfall Balance
--------- --------- --------- -------- ------------ --------- -------
<S> <C> <C> <C> <C> <C> <C>
A-1 0.00000000 0.00000000 0.00000000 4.99149138 0.00000000 823.00649532
A-2 0.00000000 0.00000000 0.00000000 5.11362235 0.00000000 848.05899206
INV_CERT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
</TABLE>
All Denominations are Per 1000
(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 5
<PAGE> 6
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
Certificateholder Component Statement
<TABLE>
<CAPTION>
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
----- ---- ------- ------- ------- ------- ----------
<S> <C> <C> <C> <C> <C> <C>
FEE 1,200.00000% 56,455.68 55,333.02 0.00 0.00 82.06755038%
</TABLE>
Page 6
<PAGE> 7
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
Certificateholder Account Statement
CERTIFICATE ACCOUNT
<TABLE>
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 8,943,019.13
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses (104,737.74)
------------
Total Deposits 8,838,281.39
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 294,572.75
Payment of Interest and Principal 8,543,708.64
------------
Total Withdrawals (Pool Distribution Amount) 8,838,281.39
Ending Balance 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 142,118.19
Management Fee 1,000.00
FSA Group 1 Premium 48,439.05
FSA Group 2 Premium 8,016.63
PMI Group 1 Fee 83,733.22
PMI Group 2 Fee 11,265.66
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 294,572.75
==========
</TABLE>
OTHER ACCOUNTS
<TABLE>
<CAPTION>
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
------------ ------- ----------- -------- -------
<S> <C> <C> <C> <C>
Financial Guaranty 0.00 0.00 0.00 0.00
Financial Guaranty 0.00 0.00 0.00 0.00
</TABLE>
Page 7
<PAGE> 8
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
Loan Status Stratification/Credit Enhancement Statement
<TABLE>
<CAPTION>
DELINQUENT
NO. OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
30 Days 62 6,093,594.58
60 Days 10 1,198,807.18
90 Days 3 493,606.66
120 Days 1 85,486.64
150 Days 1 140,757.33
180+ Days 1 63,694.67
-- ------------
78 8,075,947.06
-- ------------
</TABLE>
<TABLE>
<CAPTION>
NO. OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
30 Days 1.922481% 1.818391%
60 Days 0.310078% 0.357736%
90 Days 0.093023% 0.147297%
120 Days 0.031008% 0.025510%
150 Days 0.031008% 0.042003%
180+ Days 0.031008% 0.019007%
-------- --------
2.418605% 2.409946%
-------- --------
</TABLE>
<TABLE>
<CAPTION>
BANKRUPTCY
NO. OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 18 1,970,383.79
30 Days 2 268,453.27
60 Days 3 210,502.87
90 Days 2 66,503.67
120 Days 2 105,665.79
150 Days 4 285,326.65
180+ Days 20 1,722,301.23
-- ------------
51 4,629,137.27
-- ------------
</TABLE>
<TABLE>
<CAPTION>
NO. OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 0.558140% 0.587983%
30 Days 0.062016% 0.080109%
60 Days 0.093023% 0.062816%
90 Days 0.062016% 0.019845%
120 Days 0.062016% 0.031532%
150 Days 0.124031% 0.085144%
180+ Days 0.620155% 0.513952%
-------- --------
1.581395% 1.381382%
-------- --------
</TABLE>
<TABLE>
<CAPTION>
FORECLOSURE
NO. OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 4 257,584.86
30 Days 0 0.00
60 Days 26 2,303,213.63
90 Days 23 1,713,732.91
120 Days 10 813,424.97
150 Days 8 1,143,960.76
180+ Days 66 5,399,239.12
--- -------------
137 11,631,156.25
--- -------------
</TABLE>
<TABLE>
<CAPTION>
NO. OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 0.124031% 0.076866%
30 Days 0.000000% 0.000000%
60 Days 0.806202% 0.687303%
90 Days 0.713178% 0.511395%
120 Days 0.310078% 0.242734%
150 Days 0.248062% 0.341370%
180+ Days 2.046512% 1.611188%
-------- --------
4.248062% 3.470856%
-------- --------
</TABLE>
<TABLE>
<CAPTION>
REO
NO. OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 16 1,354,465.40
-- ------------
16 1,354,465.40
-- ------------
</TABLE>
<TABLE>
<CAPTION>
NO. OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.496124% 0.404186%
-------- --------
0.496124% 0.404186%
-------- --------
</TABLE>
<TABLE>
<CAPTION>
TOTAL
NO. OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 22 2,227,968.65
30 Days 64 6,362,047.85
60 Days 39 3,712,523.68
90 Days 28 2,273,843.24
120 Days 13 1,004,577.40
150 Days 13 1,570,044.74
180+ Days 103 8,539,700.42
--- -------------
282 25,690,705.98
--- -------------
</TABLE>
<TABLE>
<CAPTION>
NO. OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 0.682171% 0.664849%
30 Days 1.984496% 1.898500%
60 Days 1.209302% 1.107855%
90 Days 0.868217% 0.678538%
120 Days 0.403101% 0.299776%
150 Days 0.403101% 0.468517%
180+ Days 3.193798% 2.548334%
-------- --------
8.744186% 7.666370%
-------- --------
</TABLE>
<TABLE>
<S> <C> <C> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00 Principal Balance of Contaminated Properties 0.00
Cumulative Realized Losses - Includes Interest Shortfall 230,413.47 Periodic Advance 0.00
Current Period Class A Insufficient Funds 0.00
</TABLE>
Page 8
<PAGE> 9
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
Delinquency Status By Group
<TABLE>
<CAPTION>
DELINQUENT
GROUP NO OF PRINCIPAL
1 LOANS BALANCE
<S> <C> <C>
30 Days 42 4,122,539.79
60 Days 4 706,961.13
90 Days 3 493,606.66
120 Days 1 85,486.64
150 Days 1 140,757.33
180+ Days 1 63,694.67
-------- ------------
52 5,613,046.22
30 Days 1.648999% 1.464947%
60 Days 0.157048% 0.251219%
90 Days 0.117786% 0.175403%
120 Days 0.039262% 0.030378%
150 Days 0.039262% 0.050018%
180+ Days 0.039262% 0.022634%
-------- ------------
2.041618% 1.994599%
-------- ------------
</TABLE>
<TABLE>
<CAPTION>
BANKRUPTCY
NO OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 16 1,862,953.07
30 Days 2 268,453.27
60 Days 2 169,483.50
90 Days 0 0.00
120 Days 1 40,310.06
150 Days 4 285,326.65
180+ Days 12 1,203,040.74
-------- ------------
37 3,829,567.29
0-29 Days 0.628190% 0.662001%
30 Days 0.078524% 0.095395%
60 Days 0.078524% 0.060226%
90 Days 0.000000% 0.000000%
120 Days 0.039262% 0.014324%
150 Days 0.157048% 0.101391%
180+ Days 0.471143% 0.427501%
-------- ------------
1.452689% 1.360839%
-------- ------------
</TABLE>
<TABLE>
<CAPTION>
FORECLOSURE
NO OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 4 257,584.86
30 Days 0 0.00
60 Days 18 1,648,631.44
90 Days 17 1,317,783.53
120 Days 7 603,693.92
150 Days 7 647,088.20
180+ Days 51 4,567,442.39
-------- ------------
104 9,042,224.34
0-29 Days 0.157048% 0.091533%
30 Days 0.000000% 0.000000%
60 Days 0.706714% 0.585842%
90 Days 0.667452% 0.468275%
120 Days 0.274833% 0.214523%
150 Days 0.274833% 0.229943%
180+ Days 2.002356% 1.623043%
-------- ------------
4.083235% 3.213159%
-------- ------------
</TABLE>
<TABLE>
<CAPTION>
REO
NO OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 15 1,290,483.51
-------- ------------
15 1,290,483.51
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.588928% 0.458574%
-------- ------------
0.588928% 0.458574%
-------- ------------
</TABLE>
<TABLE>
<CAPTION>
TOTAL
NO OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 20 2,120,537.93
30 Days 44 4,390,993.06
60 Days 24 2,525,076.07
90 Days 20 1,811,390.19
120 Days 9 729,490.62
150 Days 12 1,073,172.18
180+ Days 79 7,124,661.31
-------- -------------
208 19,775,321.36
0-29 Days 0.785238% 0.753534%
30 Days 1.727523% 1.560342%
60 Days 0.942285% 0.897287%
90 Days 0.785238% 0.643678%
120 Days 0.353357% 0.259225%
150 Days 0.471143% 0.381352%
180+ Days 3.101688% 2.531752%
-------- -------------
8.166470% 7.027170%
-------- ------------
</TABLE>
<TABLE>
<CAPTION>
DELINQUENT
GROUP NO OF PRINCIPAL
2 LOANS BALANCE
<S> <C> <C>
30 Days 20 1,971,054.79
60 Days 6 491,846.05
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 0 0.00
-------- ------------
26 2,462,900.84
30 Days 2.949853% 3.670711%
60 Days 0.884956% 0.915969%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000%
-------- ------------
3.834808% 4.586680%
-------- ------------
</TABLE>
<TABLE>
<CAPTION>
BANKRUPTCY
NO OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 2 107,430.72
30 Days 0 0.00
60 Days 1 41,019.37
90 Days 2 66,503.67
120 Days 1 65,355.73
150 Days 0 0.00
180+ Days 8 519,260.49
-------- ----------
14 799,569.98
0-29 Days 0.294985% 0.200069%
30 Days 0.000000% 0.000000%
60 Days 0.147493% 0.076391%
90 Days 0.294985% 0.123850%
120 Days 0.147493% 0.121713%
150 Days 0.000000% 0.000000%
180+ Days 1.179941% 0.967023%
-------- ----------
2.064897% 1.489046%
-------- ----------
</TABLE>
<TABLE>
<CAPTION>
FORECLOSURE
NO OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 8 654,582.19
90 Days 6 395,949.38
120 Days 3 209,731.05
150 Days 1 496,872.56
180+ Days 15 831,796.73
-------- ------------
33 2,588,931.91
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 1.179941% 1.219034%
90 Days 0.884956% 0.737380%
120 Days 0.442478% 0.390584%
150 Days 0.147493% 0.925330%
180+ Days 2.212389% 1.549062%
-------- ------------
4.867257% 4.821389%
-------- ------------
</TABLE>
<TABLE>
<CAPTION>
REO
NO OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 0 0.00
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180+ Days 1 63,981.89
-------- ---------
1 63,981.89
0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180+ Days 0.147493% 0.119154%
-------- ---------
0.147493% 0.119154%
-------- ---------
</TABLE>
<TABLE>
<CAPTION>
TOTAL
NO OF PRINCIPAL
LOANS BALANCE
<S> <C> <C>
0-29 Days 2 107,430.72
30 Days 20 1,971,054.79
60 Days 15 1,187,447.61
90 Days 8 462,453.05
20 Days 4 275,086.78
150 Days 1 496,872.56
180+ Days 24 1,415,039.11
--------- ------------
74 5,915,384.62
0-29 Days 0.294985% 0.200069%
30 Days 2.949853% 3.670711%
60 Days 2.212389% 2.211393%
0 Days 1.179941% 0.861230%
120 Days 0.589971% 0.512296%
150 Days 0.147493% 0.925330%
180+ Days 3.539823% 2.635239%
--------- ------------
10.914454% 11.016269%
--------- ------------
</TABLE>
Page 9
<PAGE> 10
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
<TABLE>
<CAPTION>
Original $ Original % Current $ Current%
<S> <C> <C> <C> <C>
Bankruptcy 100,000.00 0.02473268% 100,000.00 0.02986559%
Fraud 12,129,702.50 3.00000000% 12,129,702.50 3.62260670%
Special Hazard 4,043,234.17 1.00000000% 4,043,234.17 1.20753557%
</TABLE>
Limit of Subordinate's Exposure to Certain Types of Losses
Page 10
<PAGE> 11
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
COLLATERAL STATEMENT
<TABLE>
Collateral Description Fixed & Mixed ARM
<S> <C>
Weighted Average Gross Coupon 9.474475%
Weighted Average Net Coupon 8.978840%
Weighted Average Pass-Through Rate 8.442475%
Weighted Average Maturity (Stepdown Calculation) 334
Beginning Scheduled Collateral Loan Count 3,291
Number of Loans Paid in Full 66
Ending Scheduled Collateral Loan Count 3,225
Beginning Scheduled Collateral Balance 341,083,576.29
Ending Scheduled Collateral Balance 334,833,546.94
Ending Actual Collateral Balance at 31-Aug-2000 335,109,112.99
Monthly P&I Constant 2,918,300.21
Ending Scheduled Balance for Premium Loans 334,833,546.94
</TABLE>
Page 11
<PAGE> 12
<TABLE>
<S> <C>
American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink
Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A.
Record Date: 31-Aug-2000 Securities Administration Services
Distribution Date: 25-Sep-2000 7485 New Horizon Way
Frederick, MD 21703
25-Sep-2000 12:25:47PM Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
<TABLE>
<CAPTION>
Group 1 2 Total
Collateral Description Mixed ARM Mixed Fixed
<S> <C> <C> <C>
Weighted Average Coupon Rate 9.449830 9.603491
Weighted Average Net Rate 8.598966 8.856369
Weighted Average Maturity 344.00 280.00
Record Date 08/31/00 08/31/00
Principal And Interest Constant 2,425,905.21 492,395.00 2,918,300.21
Beginning Loan Count 2,596 695 3,291
Loans Paid In Full 49 17 66
Ending Loan Count 2,547 678 3,225
Beginning Scheduled Balance 286,378,720.14 54,704,856.15 341,083,576.29
Ending Scheduled Balance 281,205,252.94 53,628,294.00 334,833,546.94
Scheduled Principal 170,713.37 54,596.99 225,310.36
Unscheduled Principal 3,097,654.04 990,839.90 4,088,493.94
Scheduled Interest 2,255,191.84 437,798.01 2,692,989.85
Servicing Fee 119,324.50 22,793.69 142,118.19
Master Servicing Fee 0.00 0.00 0.00
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 83,733.22 11,265.66 94,998.88
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 1,658,922.16 315,766.18 1,974,688.34
Realized Loss Amount 73,612.48 31,125.26 104,737.74
Cumulative Realized Loss 198,702.34 31,711.13 230,413.47
Percentage of Cumulative Losses 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
1 2 Total
<S> <C> <C> <C>
Required Overcollateralization Amount 7,679,044.22 1,260,651.24 8,939,695.46
Overcollateralization Increase Amount 0.00 0.00 0.00
Overcollateralization Reduction Amount 1,905,099.79 0.00 1,905,099.79
Specified Overcollateralization Amount 7,679,044.22 1,260,651.24 8,939,695.46
Overcollateralization Amount 9,584,144.01 1,260,651.24 10,844,795.25
Overcollateralization Deficiency Amount 1,905,099.79 0.00 1,905,099.79
Base Overcollateralization Amount 7,679,044.22 1,260,651.24 8,939,695.46
Extra Principal Distribution Amount 0.00 0.00 0.00
Excess Cash Amount 343,934.77 79,794.01 423,728.79
</TABLE>
Page 12
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