<PAGE> 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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
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
Class CUSIP Description Rate Balance
------------------------------------------------------------------------
<S> <C> <C> <C> <C>
A-1 02926NAB2 SEQ 6.99125% 288,654,159.86
A-2 02926NAC0 SEQ 7.09000% 54,596,804.74
INV_CERT AMINV1992 SEQ 0.00000% 9,915,042.09
--------------
Totals 353,166,006.69
==============
</TABLE>
<TABLE>
<CAPTION>
Current Ending Cumulative
Interest Principal Realized Certificate Total Realized
Class Distribution Distribution Loss Balance Distribution Losses
-------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 1,625,654.12 7,005,481.53 0.00 281,648,678.33 8,631,135.65 0.00
A-2 322,576.12 551,471.94 0.00 54,045,332.80 874,048.06 0.00
INV_CERT 0.00 0.00 0.00 10,443,382.06 0.00 0.00
------------ ------------ ---- -------------- ------------ ----
Totals 1,948,230.24 7,556,953.47 0.00 346,137,393.19 9,505,183.71 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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
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
-------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
A-1 332,350,000.00 288,654,159.86 172,959.71 6,832,521.82
A-2 61,750,000.00 54,596,804.74 54,337.41 497,134.53
INV_CERT 10,223,416.68 9,915,042.09 0.00 0.00
-------------- -------------- ---------- ------------
Totals 404,323,416.68 353,166,006.69 227,297.12 7,329,656.35
-------------- -------------- ---------- ------------
</TABLE>
<TABLE>
<CAPTION>
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Accretion Loss(1) Reduction Balance Percentage Distribution
------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 0.00 0.00 7,005,481.53 281,648,678.33 0.84744600 7,005,481.53
A-2 0.00 0.00 551,471.94 54,045,332.80 0.87522806 551,471.94
INV_CERT 0.00 0.00 0.00 10,443,382.06 1.02151584 0.00
---- ---- ------------ -------------- ---------- ------------
Totals 0.00 0.00 7,556,953.47 346,137,393.19 0.85609039 7,556,953.47
---- ---- ------------ -------------- ---------- ------------
</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 Descript
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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
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
Class (2) Amount Balance Distribution Distribution Accretion
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-1 332,350,000.00 868.52462723 0.52041435 20.55821219 0.00000000
A-2 61,750,000.00 884.15878121 0.87995806 8.05076162 0.00000000
INV_CERT 10,223,416.68 0.00000000 0.00000000 0.00000000 0.00000000
</TABLE>
<TABLE>
<CAPTION>
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class (2) Loss (3) Reduction Balance Percentage Distribution
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 21.07862654 847.44600069 0.84744600 21.07862654
A-2 0.00000000 8.93071968 875.22806154 0.87522806 8.93071968
INV_CERT 0.00000000 0.00000000 0.00000000 1.02151584 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 Descript
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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
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 6.99125% 288,654,159.86 1,625,654.12 0.00
A-2 61,750,000.00 7.09000% 54,596,804.74 322,576.12 0.00
INV_CERT 10,223,416.68 0.00000% 9,915,042.09 0.00 0.00
Totals 404,323,416.68 1,948,230.24 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 1,625,654.12 0.00 281,648,678.33
A-2 0.00 0.00 0.00 322,576.12 0.00 54,045,332.80
INV_CERT 0.00 0.00 0.00 0.00 0.00 10,443,382.06
Totals 0.00 0.00 0.00 1,948,230.24 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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
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 6.99125 % 868.52462723 4.89139197 0.00000000
A-2 61,750,000.00 7.09000 % 884.15878121 5.22390478 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 .00000000 0.00000000 0.00000000 4.89139197 0.00000000 847.44600069
A-2 .00000000 0.00000000 0.00000000 5.22390478 0.00000000 875.22806154
INV_CERT .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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
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 % 58,704.00 57,395.32 0.00 0.00 85.12626485 %
</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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE Series 1999-2
Certificateholder Account Statement
<TABLE>
<S> <C>
CERTIFICATE ACCOUNT
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 9,820,672.08
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses (11,447.20)
------------
Total Deposits 9,809,224.88
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 304,041.17
Payment of Interest and Principal 9,505,183.71
------------
Total Withdrawals (Pool Distribution Amount) 9,809,224.88
Ending Balance 0.00
============
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
------------
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
============
SERVICING FEES
Gross Servicing Fee 147,152.52
Management Fee 1,000.00
FSA Group 1 Premium 50,514.48
FSA Group 2 Premium 8,189.52
PMI Group 1 Fee 85,749.11
PMI Group 2 Fee 11,435.54
Supported Prepayment/Curtailment Interest Shortfall 0.00
------------
Net Servicing Fee 304,041.17
============
</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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
Certificateholder Delinquency/Credit Enhancement Statement
DELINQUENT
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 66 5,897,787.74
60 Days 7 526,838.80
90 Days 2 177,025.03
120 Days 0 0.00
150 Days 0 0.00
180 Days 0 0.00
------------ ------------
75 6,601,651.57
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 1.978417% 1.702603%
60 Days 0.209832% 0.152091%
90 Days 0.059952% 0.051104%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180 Days 0.000000% 0.000000%
-------- --------
2.248201% 1.905798%
</TABLE>
BANKRUPTCY
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 1 242,722.51
60 Days 2 80,647.18
90 Days 4 324,917.37
120 Days 1 77,396.48
150 Days 2 175,105.12
180 Days 24 1,993,301.29
------------ ------------
34 2,894,089.95
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 0.029976% 0.070070%
60 Days 0.059952% 0.023282%
90 Days 0.119904% 0.093799%
120 Days 0.029976% 0.022343%
150 Days 0.059952% 0.050550%
180 Days 0.719424% 0.575436%
-------- --------
1.019185% 0.835481%
</TABLE>
FORECLOSURE
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 2 103,972.62
60 Days 19 1,521,959.33
90 Days 19 2,217,019.87
120 Days 16 1,738,891.00
150 Days 7 803,484.58
180 Days 56 3,979,945.59
------------- -------------
119 10,365,272.99
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 0.059952% 0.030015%
60 Days 0.569544% 0.439367%
90 Days 0.569544% 0.640021%
120 Days 0.479616% 0.501992%
150 Days 0.209832% 0.231954%
180 Days 1.678657% 1.148951%
-------- --------
3.567146% 2.992300%
</TABLE>
REO
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 1 99,598.79
180 Days 6 418,226.31
---------- ----------
7 517,825.10
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
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 0.029976% 0.028753%
180 Days 0.179856% 0.120736%
-------- -------- --------
0.209832% 0.149488%
</TABLE>
<TABLE>
<CAPTION>
TOTAL
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 69 6,244,482.87
60 Days 28 2,129,445.31
90 Days 25 2,718,962.27
120 Days 17 1,816,287.48
150 Days 10 1,078,188.49
180 Days 86 6,391,473.19
------------- -------------
235 20,378,839.61
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 2.068345% 1.802689%
60 Days 0.839329% 0.614739%
90 Days 0.749400% 0.784924%
120 Days 0.509592% 0.524335%
150 Days 0.299760% 0.311257%
180 Days 2.577938% 1.845123%
-------- --------
7.044365% 5.883067%
</TABLE>
Delinquencies are stratified according to the information the Servicer has
provided.
<TABLE>
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 99,587.94
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE SERIES 1999-2
Delinquency Status By Group
Group 1
DELINQUENT
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 49 4,626,197.79
60 Days 4 342,529.02
90 Days 2 177,025.03
120 Days 0 0.00
150 Days 0 0.00
180 Days 0 0.00
------------ ------------
55 5,145,751.84
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 1.860995% 1.589609%
60 Days 0.151918% 0.117697%
90 Days 0.075959% 0.060828%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180 Days 0.000000% 0.000000%
-------- --------
2.088872% 1.768133%
</TABLE>
BANKRUPTCY
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 1 242,722.51
60 Days 0 0.00
90 Days 4 324,917.37
120 Days 1 77,396.48
150 Days 2 175,105.12
180 Days 19 1,652,342.94
------------ ------------
27 2,472,484.42
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 0.037979% 0.083402%
60 Days 0.000000% 0.000000%
90 Days 0.151918% 0.111645%
120 Days 0.037979% 0.026594%
150 Days 0.075959% 0.060168%
180 Days 0.721610% 0.567762%
-------- --------
1.025446% 0.849571%
</TABLE>
FORECLOSURE
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 2 103,972.62
60 Days 15 1,125,641.73
90 Days 16 1,633,579.87
120 Days 13 1,546,209.39
150 Days 5 575,814.41
180 Days 40 3,098,359.45
------------ ------------
91 8,083,577.47
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 0.075959% 0.035726%
60 Days 0.569692% 0.386782%
90 Days 0.607672% 0.561315%
120 Days 0.493733% 0.531294%
150 Days 0.189897% 0.197856%
180 Days 1.519180% 1.064628%
-------- --------
3.456134% 2.777601%
</TABLE>
REO
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 0 0.00
60 Days 0 0.00
90 Days 0 0.00
120 Days 0 0.00
150 Days 1 99,598.79
180 Days 5 386,762.22
---------- ----------
6 486,361.01
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
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 0.037979% 0.034223%
180 Days 0.189897% 0.132895%
-------- --------
0.227877% 0.167119%
</TABLE>
<TABLE>
<CAPTION>
TOTAL
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 52 4,972,892.92
60 Days 19 1,468,170.75
90 Days 22 2,135,522.27
120 Days 14 1,623,605.87
150 Days 8 850,518.32
180 Days 64 5,137,464.61
------------- -------------
179 16,188,174.74
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 1.974934% 1.708737%
60 Days 0.721610% 0.504479%
90 Days 0.835549% 0.733788%
120 Days 0.531713% 0.557888%
150 Days 0.303836% 0.292247%
180 Days 2.430687% 1.765286%
-------- --------
6.798329% 5.562424%
</TABLE>
Group 2
DELINQUENT
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 17 1,271,589.95
60 Days 3 184,309.78
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180 Days 0 0.00
------------ ------------
20 1,455,899.73
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 2.418208% 2.296496%
60 Days 0.426743% 0.332864%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180 Days 0.000000% 0.000000%
-------- --------
2.844950% 2.629360%
</TABLE>
BANKRUPTCY
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 0 0.00
60 Days 2 80,647.18
90 Days 0 0.00
120 Days 0 0.00
150 Days 0 0.00
180 Days 5 340,958.35
-------- ---------- ----------
7 421,605.53
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 0.000000% 0.000000%
60 Days 0.284495% 0.145649%
90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000%
180 Days 0.711238% 0.615772%
-------- --------
0.995733% 0.761421%
</TABLE>
FORECLOSURE
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 0 0.00
60 Days 4 396,317.60
90 Days 3 583,440.00
120 Days 3 192,681.61
150 Days 2 227,670.17
180 Days 16 881,586.14
------------ ------------
28 2,281,695.52
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 0.000000% 0.000000%
60 Days 0.568990% 0.715751%
90 Days 0.426743% 1.053695%
120 Days 0.426743% 0.347984%
150 Days 0.284495% 0.411173%
180 Days 2.275960% 1.592148%
-------- --------
3.982930% 4.120750%
</TABLE>
REO
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
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 31,464.09
--------- ---------
1 31,464.09
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
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 0.142248% 0.056824%
-------- --------
0.142248% 0.056824%
</TABLE>
<TABLE>
<CAPTION>
TOTAL
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 17 1,271,589.95
60 Days 9 661,274.56
90 Days 3 583,440.00
120 Days 3 192,681.61
150 Days 2 227,670.17
180 Days 22 1,254,008.58
------------ ------------
56 4,190,664.87
</TABLE>
<TABLE>
<CAPTION>
No. of Principal
Loans Balance
<S> <C> <C>
30 Days 2.418208% 2.296496%
60 Days 1.280228% 1.194264%
90 Days 0.426743% 1.053695%
120 Days 0.426743% 0.347984%
150 Days 0.284495% 0.411173%
180 Days 3.129445% 2.264744%
-------- --------
7.965861% 7.568356%
</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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
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 0.02889026%
Fraud 12,129,702.50 3.00000000% 12,129,702.50 3.50430283%
Special Hazard 4,043,234.17 1.00000000% 4,043,234.17 1.16810094%
</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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
</TABLE>
ARE Series 1999-2
COLLATERAL STATEMENT
<TABLE>
<CAPTION>
Collateral Description Fixed & Mixed ARM
<S> <C>
Weighted Average Gross Coupon 9.491174%
Weighted Average Net Coupon 8.991174%
Weighted Average Pass-Through Rate 8.991174%
Weighted Average Maturity (Stepdown Calculation) 336
Beginning Scheduled Collateral Loan Count 3,400
Number of Loans Paid in Full 64
Ending Scheduled Collateral Loan Count 3,336
Beginning Scheduled Collateral Balance 353,166,007.04
Ending Scheduled Collateral Balance 346,137,394.11
Ending Actual Collateral Balance at 30-Jun-2000 346,398,211.99
Monthly P&I Constant 3,019,356.26
Ending Scheduled Balance for Premium Loans 346,137,394.11
</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: 30-Jun-2000 Securities Administration Services
Distribution Date: 25-Jul-2000 7485 New Horizon Way
Frederick, MD 21703
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 9.462453 9.617385
Weighted Average Net Rate 8.616352 8.871712
Weighted Average Maturity 346.00 282.00
Record Date 06/30/00 06/30/00
Principal And Interest Constant 2,517,349.97 502,006.29 3,019,356.26
Beginning Loan Count 2,689 711 3,400
Loans Paid In Full 56 8 64
Ending Loan Count 2,633 703 3,336
Beginning Scheduled Balance 297,308,551.06 55,857,455.98 353,166,007.04
Ending Scheduled Balance 290,831,410.07 55,305,984.04 346,137,394.11
Scheduled Principal 172,959.71 54,337.41 227,297.12
Unscheduled Principal 6,304,181.28 497,134.53 6,801,315.81
Scheduled Interest 2,344,390.26 447,668.88 2,792,059.14
Servicing Fee 123,878.58 23,273.94 147,152.52
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 85,749.11 11,435.54 97,184.65
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 2,134,762.57 412,959.40 2,547,721.97
Realized Loss Amount 11,447.20 0.00 11,447.20
Cumulative Realized Loss 99,002.07 585.87 99,587.94
Percentage of Cumulative Losses 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
1 2 Total
<S> <C> <C> <C>
Required Overcollateralization Amount 11,377,930.92 1,260,651.24 12,638,582.16
Overcollateralization Increase Amount 0.00 0.00 0.00
Overcollateralization Reduction Amount 0.00 0.00 0.00
Specified Overcollateralization Amount 11,377,930.92 1,260,651.24 12,638,582.16
Overcollateralization Amount 9,182,730.82 1,260,651.24 10,443,382.06
Overcollateralization Deficiency Amount 2,195,200.10 0.00 2,195,200.10
Base Overcollateralization Amount 7,679,044.23 1,260,651.24 8,939,695.47
Extra Principal Distribution Amount 539,787.76 0.00 539,787.76
Excess Cash Amount 457,753.04 82,034.70 539,787.74
</TABLE>
Page 12
