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Previous: STRUCTURED ASSET SEC CORP MORT PASS THRO CERT SER 1998-1 TR, 8-K, 1998-09-08 |
Next: TRANSTEL S A, F-4/A, 1998-09-08 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 25, 1998
AMRESCO Residential Securities Corporation on behalf of:
AMRESCO Residential Securities Corporation Mortgage Loan Trust
1998-2
(Exact name of registrant as specified in its charter)
New York 333-30759-5 Application Pending
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
c/o Bankers Trust Company
3 Park Plaza 16th Floor
Irvine, CA 92614
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (714) 253-7575
No Change
(Former name or former address, if changed since last report)
Item 5. Other Events.
Information relating to the distributions to
Certificateholders for the period from July 1, 1998 to July 31,
1998 (the "Monthly Period") of the AMRESCO Residential Securities
Corporation Mortgage Loan Trust 1998-2 (the "Registrant" or
"Trust") in respect of the Mortgage Loan Asset Backed
Certificates, Series 1998-2, Class A (the "Certificates") issued
by the Registrant and the performance of the Trust (including
distributions of principal and interest, delinquent balances of
mortgage loans, and the subordinated amount remaining), together
with certain other information relating to the Certificates, is
contained in the Monthly Report for the Monthly Period provided
to Certificateholders pursuant to the Pooling and Servicing
Agreement dated as of June 1, 1998, among AMRESCO Residential
Securities Corporation in its capacity as Depositor, AMRESCO
Residential Capital Markets, Inc. in its capacity as the Seller
and Master Servicer, Advanta Mortgage Corp. USA, Ameriquest
Mortgage Company and Wendover Financial Services Corporation as
the Servicers, Norwest Bank Minnesota and National Association,
in its capacity as the trustee.
Item 7. Exhibit.
Monthly Report for the Monthly Period relating to the
Certificates issued by the Trust.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
By: AMRESCO Residential Securities
Corporation
Mortgage Loan Trust 1998-2
By: /s/Ron B. Kirkland
Name: Ron B. Kirkland
Title: Vice President and
Chief Accounting Officer
Dated: September 4, 1998
<TABLE>
<CAPTION>
AMRESCO Residential Securities Corporation Contact: Customer Service-Columbia, MD
Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A.
Record Date: 31-Jul-1998 Securities Administration Services
Distribution Date: 25-Aug-1998 11000 Broken Land Parkway
Columbia, MD 21044
AMRESCO Series 1998-2 Telephone: (301) 815-6600
Fax: (401) 884-2369
Certificate Holder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
CLASS CUSIP Description Rate Balance Distribution Distribution
Current Ending Cumulative
Realized Certificate Total Realized
Loss Balance Distribution Losses
<S> <C> <C> <C> <C> <C>
A-1 03215PEL9 SEQ 6.50000% 110,655,100.43 599,381.79 3,276,956.80
0.00 107,378,143.63 3,876,338.59 0.00
A-2 03215PEM7 SEQ 6.24500% 61,000,000.00 317,454.17 0.00
0.00 61,000,000.00 317,454.17 0.00
A-3 03215PEN5 SEQ 6.31500% 36,000,000.00 189,450.00 0.00
0.00 36,000,000.00 189,450.00 0.00
A-4 03215PEP0 SEQ 6.44500% 37,000,000.00 198,720.83 0.00
0.00 37,000,000.00 198,720.83 0.00
A-5 03215PEQ8 SEQ 6.80000% 16,000,000.00 90,666.67 0.00
0.00 16,000,000.00 90,666.67 0.00
A-6 03215PER6 SEQ 6.40500% 35,000,000.00 186,812.50 0.00
0.00 35,000,000.00 186,812.50 0.00
A-7 03215PEV7 SEQ 5.69625% 140,481,346.71 644,619.15 9,600,268.83
0.00 130,881,077.88 10,244,887.98 0.00
A-8 03215PEW5 SEQ 5.81125% 366,981,346.71 1,717,944.17 9,600,268.83
0.00 357,381,077.88 11,318,213.00 0.00
M-1F 03215PES4 SUB 6.74500% 19,250,000.00 108,201.04 0.00
0.00 19,250,000.00 108,201.04 0.00
M-1A 03215PEX3 SUB 5.98625% 52,000,000.00 250,757.36 0.00
0.00 52,000,000.00 250,757.36 0.00
M-2F 03215PET2 SUB 7.04000% 15,750,000.00 92,400.00 0.00
0.00 15,750,000.00 92,400.00 0.00
M-2A 03215PEY1 SUB 6.20625% 39,000,000.00 194,979.69 0.00
0.00 39,000,000.00 194,979.69 0.00
B-1F 03215PEU9 SUB 7.71500% 14,000,000.00 90,008.33 0.00
0.00 14,000,000.00 90,008.33 0.00
B-1A 03215PEZ8 SUB 6.80625% 32,500,000.00 178,191.41 0.00
0.00 32,500,000.00 178,191.41 0.00
C-FIO ARS98CFI0 IO 15.00000% 0.00 437,500.00 0.00
0.00 0.00 437,500.00 0.00
C-AIO ARS98CAI0 IO 6.82000% 0.00 392,813.06 0.00
0.00 0.00 392,813.06 0.00
D ARS98002D IO 0.00000% 0.00 0.00 0.00
0.00 0.00 0.00 0.00
S ARS98002S IO 0.10000% 0.00 43,107.94 0.00
0.00 0.00 43,107.94 0.00
R ARS98002R R 0.00000% 0.00 0.00 0.00
0.00 0.00 0.00 0.00
RL ARS9802RL R 0.00000% 0.00 0.00 0.00
0.00 0.00 0.00
TOTALS 975,617,793.85 5,733,008.11 22,477,494.46
0.000 953,140,299.39 28,210,502.57 0.00
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.
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
CLASS Amount Balance Distribution Distribution Accretion Loss (1)
Total Ending Ending Total
Principal Certificate Certificate Principal
Reduction Balance Percentage Distribution
A-1 116,000,000.00 110,655,100.43 273,516.04 3,003,440.76 0.00 0.00
3,276,956.80 107,378,143.63 0.92567365 3,276,956.80
A-2 61,000,000.00 61,000,000.00 0.00 0.00 0.00 0.00
0.00 61,000,000.00 1.00000000 0.00
A-3 36,000,000.00 36,000,000.00 0.00 0.00 0.00 0.00
0.00 36,000,000.00 1.00000000 0.00
A-4 37,000,000.00 37,000,000.00 0.00 0.00 0.00 0.00
0.00 37,000,000.00 1.00000000 0.00
A-5 16,000,000.00 16,000,000.00 0.00 0.00 0.00 0.00
0.00 16,000,000.00 1.00000000 0.00
A-6 35,000,000.00 35,000,000.00 0.00 0.00 0.00 0.00
0.00 35,000,000.00 1.00000000 0.00
A-7 150,000,000.00 140,481,346.71 178,598.56 9,421,670.27 0.00 0.00
9,600,268.83 130,881,077.88 0.87254052 9,600,268.83
A-8 376,500,000.00 366,981,346.71 178,598.56 9,421,670.27 0.00 0.00
9,600,268.83 357,381,077.88 0.94921933 9,600,268.83
M-1F 19,250,000.00 19,250,000.00 0.00 0.00 0.00 0.00
0.00 19,250,000.00 1.00000000 0.00
M-1A 52,000,000.00 52,000,000.00 0.00 0.00 0.00 0.00
0.00 52,000,000.00 1.00000000 0.00
M-2F 15,750,000.00 15,750,000.00 0.00 0.00 0.00 0.00
0.00 15,750,000.00 1.00000000 0.00
M-2A 39,000,000.00 39,000,000.00 0.00 0.00 0.00 0.00
0.00 39,000,000.00 1.00000000 0.00
B-1F 14,000,000.00 14,000,000.00 0.00 0.00 0.00 0.00
0.00 14,000,000.00 1.00000000 0.00
B-1A 32,500,000.00 32,500,000.00 0.00 0.00 0.00 0.00
0.00 32,500,000.00 1.00000000 0.00
C-FIO 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
C-AIO 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
D 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
S 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
RL 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
TOTALS 1,000,000,000.00 975,617,793.85 630,713.16 21,846,781.30 0.00 0.00
22,477,494.46 953,140,299.39 0.95314030 22,477,494.46
(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.
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Class Face Certificate Principal Principal Realized
(2) Amount Balance Distribution Distribution Accretion Loss (3)
Total Ending Ending Total
Principal Certificate Certificate Principal
Reduction Balance Percentage Distribution
A-1 116,000,000.00 953.92327957 2.35789690 25.89173069 0.00000000 0.00000000
28.24962759 925.67365198 0.92567365 28.24962759
A-2 61,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-3 36,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-4 37,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-5 16,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-6 35,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-7 150,000,000.00 936.54231140 1.19065707 62.81113513 0.00000000 0.00000000
64.00179220 872.54051920 0.87254052 64.00179220
A-8 376,500,000.00 974.71805235 0.47436537 25.02435663 0.00000000 0.00000000
25.49872199 949.21933036 0.94921933 25.49872199
M-1F 19,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
M-1A 52,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
M-2F 15,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
M-2A 39,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
B-1F 14,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
B-1A 32,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
C-FIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
C-AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
D 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
S 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
RL 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
(2) 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.
Interest Distribution Statement
Beginning Payment of Non
Original Current Certificate Current Unpaid Current Supported
Face Certificate Notional Accrued Interest Interest Interest Realized
CLASS Amount Rate Balance Interest Shortfall Shortfall Shortfall Losses (4)
Total Remaining Ending
Interest Unpaid Certificate/
Distribution Interest Notional
Shortfall Balance
A-1 116,000,000.00 6.50000% 110,655,100.43 599,381.79 0.00 0.00 0.00 0.00
599,381.79 0.00 107,378,143.63
A-2 61,000,000.00 6.24500% 61,000,000.00 317,454.17 0.00 0.00 0.00 0.00
317,454.17 0.00 61,000,000.00
A-3 36,000,000.00 6.31500% 36,000,000.00 189,450.00 0.00 0.00 0.00 0.00
189,450.00 0.00 36,000,000.00
A-4 37,000,000.00 6.44500% 37,000,000.00 198,720.83 0.00 0.00 0.00 0.00
198,720.83 0.00 37,000,000.00
A-5 16,000,000.00 6.80000% 16,000,000.00 90,666.67 0.00 0.00 0.00 0.00
90,666.67 0.00 16,000,000.00
A-6 35,000,000.00 6.40500% 35,000,000.00 186,812.50 0.00 0.00 0.00 0.00
186,812.50 0.00 35,000,000.00
A-7 150,000,000.00 5.69625% 140,481,346.71 644,619.15 0.00 0.00 0.00 0.00
644,619.15 0.00 130,881,077.88
A-8 376,500,000.00 5.81125% 366,981,346.71 1,717,944.17 0.00 0.00 0.00 0.00
1,717,944.17 0.00 357,381,077.88
M-1F 19,250,000.00 6.74500% 19,250,000.00 108,201.04 0.00 0.00 0.00 0.00
108,201.04 0.00 19,250,000.00
M-1A 52,000,000.00 5.98625% 52,000,000.00 250,757.36 0.00 0.00 0.00 0.00
250,757.36 0.00 52,000,000.00
M-2F 15,750,000.00 7.04000% 15,750,000.00 92,400.00 0.00 0.00 0.00 0.00
92,400.00 0.00 15,750,000.00
M-2A 39,000,000.00 6.20625% 39,000,000.00 194,979.69 0.00 0.00 0.00 0.00
194,979.69 0.00 39,000,000.00
B-1F 14,000,000.00 7.71500% 14,000,000.00 90,008.33 0.00 0.00 0.00 0.00
90,008.33 0.00 14,000,000.00
B-1A 32,500,000.00 6.80625% 32,500,000.00 178,191.41 0.00 0.00 0.00 0.00
178,191.41 0.00 32,500,000.00
C-FIO 0.00 15.00000% 35,000,000.00 437,500.00 0.00 0.00 0.00 0.00
437,500.00 0.00 35,000,000.00
C-AIO 0.00 6.82000% 71,500,000.00 392,813.06 0.00 0.00 0.00 0.00
392,813.06 0.00 71,500,000.00
D 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00
S 0.00 0.10000% 517,295,240.45 43,107.94 0.00 0.00 0.00 0.00
43,107.94 0.00 512,938,142.16
R 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00
RL 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00
Totals1,000,000,000.00 5,733,008.11 0.00 0.00 0.00 0.00
5,733,008.11 0.00
(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.
Interest Distribution Factors Statement
Beginning Payment of Non
Original Current Certificate Current Unpaid Current Supported
Face Certificate Notional Accrued Interest Interest Interest Realized
CLASS Amount Rate Balance Interest Shortfall Shortfall Shortfall Losses (6)
(5) Total Remaining Ending
Interest Unpaid Certificate/
Distribution Interest Notional
Shortfall Balance
A-1 116,000,000.00 6.50000% 953.92327957 5.16708440 0.00000000 0.00000000 0.00000000 0.00000000
5.16708440 0.00000000 925.67365198
A-2 61,000,000.00 6.24500% 1000.00000000 5.20416672 0.00000000 0.00000000 0.00000000 0.00000000
5.20416672 0.00000000 1000.00000000
A-3 36,000,000.00 6.31500% 1000.00000000 5.26250000 0.00000000 0.00000000 0.00000000 0.00000000
5.26250000 0.00000000 1000.00000000
A-4 37,000,000.00 6.44500% 1000.00000000 5.37083324 0.00000000 0.00000000 0.00000000 0.00000000
5.37083324 0.00000000 1000.00000000
A-5 16,000,000.00 6.80000% 1000.00000000 5.66666688 0.00000000 0.00000000 0.00000000 0.00000000
5.66666688 0.00000000 1000.00000000
A-6 35,000,000.00 6.40500% 1000.00000000 5.33750000 0.00000000 0.00000000 0.00000000 0.00000000
5.33750000 0.00000000 1000.00000000
A-7 150,000,000.00 5.69625% 936.54231140 4.29746100 0.00000000 0.00000000 0.00000000 0.00000000
4.29746100 0.00000000 872.54051920
A-8 376,500,000.00 5.81125% 974.71805235 4.56293272 0.00000000 0.00000000 0.00000000 0.00000000
4.56293272 0.00000000 949.21933036
M-1F 19,250,000.00 6.74500% 1000.00000000 5.62083325 0.00000000 0.00000000 0.00000000 0.00000000
5.62083325 0.00000000 1000.00000000
M-1A 52,000,000.00 5.98625% 1000.00000000 4.82225692 0.0000000 0.00000000 0.00000000 0.00000000
4.82225692 0.00000000 1000.00000000
M-2F 15,750,000.00 7.04000% 1000.00000000 5.86666667 0.00000000 0.00000000 0.00000000 0.00000000
5.86666667 0.00000000 1000.00000000
M-2A 39,000,000.00 6.20625% 1000.00000000 4.99947923 0.00000000 0.00000000 0.00000000 0.00000000
4.99947923 0.00000000 1000.00000000
B-1F 14,000,000.00 7.71500% 1000.00000000 6.42916643 0.00000000 0.00000000 0.00000000 0.00000000
6.42916643 0.00000000 1000.00000000
B-1A 32,500,000.00 6.80625% 1000.00000000 5.48281262 0.00000000 0.00000000 0.00000000 0.00000000
5.48281262 0.00000000 1000.00000000
C-FIO 0.00 15.00000% 1000.00000000 12.50000000 0.00000000 0.00000000 0.00000000 0.00000000
12.50000000 0.00000000 1000.00000000
C-AIO 0.00 6.82000% 1000.00000000 5.49388895 0.00000000 0.00000000 0.00000000 0.00000000
5.49388895 0.00000000 1000.00000000
D 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000
S 0.00 0.10000% 1030.67562338 0.08588964 0.00000000 0.00000000 0.00000000 0.00000000
0.08588964 0.00000000 1021.99440104
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000
RL 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000
(5) 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.
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Account Statement
Certificate account
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 28,231,125.94
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 359,181.99
Realized Losses 0.00
Total Deposits 28,590,307.93
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 379,805.36
Payment of Interest and Principal 28,210,502.57
Total Withdrawals (Pool Distribution Amount) 28,590,307.93
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 363,540.32
Trustee Fee 2,032.21
Master Servicing Fee 14,232.83
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 379,805.36
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Delinquency/Credit Enhancement Statement
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid Number Unpaid
Number Principal Of Loans Balance
Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 207 16,369,539.28 1.893870% 1.713073%
60 Days 122 9,585,320.39 1.116194% 1.003104%
90+ Days 156 11,912,417.72 1.427264% 1.246635%
Foreclosure 85 6,634,974.52 0.777676% 0.694350%
REO 0 0.00 0.000000% 0.000000%
Totals 570 44,502,251.91 5.215005% 4.657162%
Current Period Realized Loss-Includes Interest Shortfall 0.00
Cumulative Realized Losses-Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds
Principal Balance of Contaminated Properties 0.00
Periodic Advance 359,181.99
COLLATERAL STATEMENT
Collateral Description Fixed Mixed & 6 Month LIBOR
Weighted Average Gross Coupon 10.084075%
Weighted Average Net Coupon 9.637078%
Weighted Average Pass-Through Rate 9.617079%
Weighted Average Maturity (Stepdown Calculation) 337
Beginning Scheduled Collateral Loan Count 11,052
Number of Loans Paid in Full 122
Ending Scheduled Collateral Loan Count 10,930
Beginning Scheduled Collateral Balance 975,954,973.21
Ending Scheduled Collateral Balance 955,566,000.95
Ending Actual Collateral Balance at 31-Jul-1998 956,141,674.58
Monthly P&I Constant 8,832,048.83
Ending Scheduled Balance for Premium Loans 948,338,650.60
Scheduled Principal 630,713.16
Unscheduled Principal 19,758,259.10
Group 1 2
Collateral Description Mixed Fixed 6 Month LIBOR Arm
Weighted Average Coupon Rate 9.815869 10.230722
Weighted Average Net Rate 9.377783 9.747919
Weighted Average Maturity 327.00 342.00
Record Date 07/31/98 07/31/98
Principal And Interest Constant 3,095,515.34 5,736,533.49
Beginning Loan Count 4,193 6,859
Loans Paid In Full 37 85
Ending Loan Count 4,156 6,774
Beginning Scheduled Balance 344,992,279.79 623,639,434.43
Ending Scheduled Balance 342,077,230.51 613,488,770.44
Scheduled Principal 273,516.04 357,197.12
Unscheduled Principal 2,641,533.24 17,116,725.86
Scheduled Interest 2,821,999.30 5,379,336.37
Servicing Fee 120,197.13 243,342.83
Master Servicing Fee 5,031.14 9,201.55
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 718.74 1,314.56
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 0.00
Spread 2 0.00 0.00
Spread 3 0.00 0.00
Net Interest 2,696,052.29 5,125,477.43
Realized Loss Amount 0.00 0.00
Cummulative Realized Loss 0.00 0.00
1 2
Required Overcollateralization Amount 0.00 0.00
Overcollateralization Increase Amount 0.00 0.00
Overcollateralization Reduction Amount 0.00 0.00
Specified Overcollateralization Amount 6,125,000.00 15,600,000.00
Overcollateralization Amount 639,302.98 1,726,614.69
Overcollateralization Deficiency Amount 5,484,697.02 13,873,385.31
Base Overcollateralization Amount 0.00 0.00
Extra Principal Distribution Amount 361,907.52 1,726,614.69
Excess Cash Amount 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Deliquency Status By Group
<S> <C> <C> <C> <C> <C> <C> <C>
Group 30 Day 60 Day 90 + Day Foreclosure REO Bankruptcy
1 Principal Balance 5,923,254.21 3,726,025.12 4,892,336.16 632,650.04 0.00 66,751.38
Percentage Of Balance 1.732% 1.089% 1.430% 0.185% 0.000% 0.020%
Loan Count 84 49 76 7 0 2
Percentage Of Loan Count 2.021% 1.179% 1.829% 0.168% 0.000% 0.048%
2 Principal Balance 10,446,285.07 5,859,295.27 7,020,081.56 6,002,324.48 0.00 1,588,579.33
Percentage Of Balance 1.703% 0.955% 1.144% 0.978% 0.000% 0.259%
Loan Count 123 73 80 78 0 19
Percentage Of Loan Count 1.816% 1.078% 1.181% 1.151% 0.000% 0.280%
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