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Previous: NORTHFIELD BANCORP INC, 424B3, 1998-10-02 |
Next: CNB HOLDINGS INC /GA/, DEFS14A, 1998-10-02 |
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):
September 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 333-30759-6 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 August 1, 1998 to August
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: October 2, 1998
<TABLE>
<CAPTION>
AMRESCO Residential Securities Corporation Contact: Customer Service Columbia, MD
Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A.
Record Date: 31-Aug-1998 Securities Administration Services
Distribution Date: 25-Sep-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% 107,378,143.63 581,631.61 4,573,750.78
0.00 102,804,392.85 5,155,382.39 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 5.68844% 130,881,077.88 641,105.11 9,968,989.29
0.00 120,912,088.59 10,610,094.40 0.00
A-8 03215PEW5 SEQ 5.80344% 357,381,077.88 1,785,978.58 9,968,989.29
0.00 347,412,088.59 11,754,967.87 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 5.97844% 52,000,000.00 267,701.26 0.00
0.00 52,000,000.00 267,701.26 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 6.19844% 39,000,000.00 208,164.28 0.00
0.00 39,000,000.00 208,164.28 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 6.79844% 32,500,000.00 190,261.90 0.00
0.00 32,500,000.00 190,261.90 0.00
C-FIO ARS98CFIO IO 15.00000% 0.00 437,500.00 0.00
0.00 0.00 437,500.00 0.00
C-AIO ARS98CAIO IO 6.82000% 0.00 419,903.61 0.00
0.00 0.00 419,903.61 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 42,744.85 0.00
0.00 0.00 42,744.85 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
953,140,299.39 5,848,704.74 24,511,729.36
TOTALS 0.00 928,628,570.03 30,360,434.10 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-1 116,000,000.00 107,378,143.63 273,439.73 4,300,311.05 0.00 0.00
4,573,750.78 102,804,392.85 0.88624477 4,573,750.78
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-7 150,000,000.00 130,881,077.88 176,310.73 9,792,678.56 0.00 0.00
9,968,989.29 120,912,088.59 0.80608059 9,968,989.29
A-8 376,500,000.00 357,381,077.88 176,310.73 9,792,678.56 0.00 0.00
9,968,989.29 347,412,088.59 0.92274127 9,968,989.29
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 1,000,000,000.00 953,140,299.39 626,061.19 23,885,668.17 0.00 0.00
24,511,729.36 928,628,570.03 0.92862857 24,511,729.36
(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(2) Face Certificate Principal Principal Realized
Amount Balance Distribution Distribution Accretion Loss (3)
Total Ending Ending Total
Principal Certificate Certificate Principal
Reduction Balance Percentage Distribution
A-1 116,000,000.00 925.67365198 2.35723905 37.07164698 0.00000000 0.00000000
39.42888603 886.24476595 0.88624477 39.42888603
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-7 150,000,000.00 872.54051920 1.17540487 65.28452373 0.00000000 0.00000000
66.45992860 806.08059060 0.80608059 66.45992860
A-8 376,500,000.00 949.21933036 0.46828879 26.00977041 0.00000000 0.00000000
26.47805920 922.74127116 0.92274127 26.47805920
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 14,000,000.0 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% 107,378,143.63 581,631.61 0.00 0.00 0.00 0.00
581,631.61 0.00 102,804,392.80
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 5.68844% 130,881,077.88 641,105.11 0.00 0.00 0.00 0.00
641,105.11 0.00 120,912,088.50
A-8 376,500,000.00 5.80344% 357,381,077.88 1,785,978.58 0.00 0.00 0.00 0.00
1,785,978.58 0.00 347,412,088.50
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 5.97844% 52,000,000.00 267,701.26 0.00 0.00 0.00 0.00
267,701.26 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 6.19844% 39,000,000.00 208,164.28 0.00 0.00 0.00 0.00
208,164.28 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 6.79844% 32,500,000.00 190,261.90 0.00 0.00 0.00 0.00
190,261.90 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% 71,500,000.00 419,903.61 0.00 0.00 0.00 0.00
419,903.61 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% 512,938,142.16 42,744.85 0.00 0.00 0.00 0.00
42,744.85 0.00 503,587,056.40
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
Totals 1,000,000,000.00 5,848,704.74 0.00 0.00 0.00 0.00
5,848,704.74 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(5) Amount Rate Balance Interest Shortfall Shortfall Shortfall Losses (6)
Total Remaining Ending
Interest Unpaid Certificate/
Distribution Interest Notional
Shortfall Balance
A-1 116,000,000.00 6.50000% 925.67365198 5.01406560 0.00000000 0.00000000 0.00000000 0.00000000
5.01406560 0.00000000 886.24476595
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 5.68844% 872.54051920 4.27403407 0.00000000 0.00000000 0.00000000 0.00000000
4.27403407 0.00000000 806.08059060
A-8 376,500,000.00 5.80344% 949.21933036 4.74363501 0.00000000 0.00000000 0.00000000 0.00000000
4.7436350 0.00000000 922.74127116
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 5.97844% 1000.00000000 5.14810115 0.0000000 0.00000000 0.00000000 0.00000000
5.14810115 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 6.19844% 1000.00000000 5.33754564 0.00000000 0.00000000 0.00000000 0.00000000
5.33754564 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 6.79844% 1000.00000000 5.85421231 0.00000000 0.00000000 0.00000000 0.00000000
5.8542123 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 5.87277776 0.00000000 0.00000000 0.00000000 0.00000000
5.87277776 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% 1021.99440104 0.08516621 0.00000000 0.00000000 0.00000000 0.00000000
0.0851662 0.00000000 1003.36299809
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
<C> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 30,284,658.60
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 447,107.52
Realized Losses 0.00
Total Deposits 30,731,766.12
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 371,332.51
Payment of Interest and Principal 30,360,433.61
Total Withdrawals (Pool Distribution Amount) 30,731,766.12
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 355,407.29
Trustee Fee 1,989.88
Master Servicing Fee 13,935.34
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 371,332.51
</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 377 29,410,224.88 3.522048% 3.152685%
60 Days 66 5,401,319.82 0.616592% 0.579005%
90+ Days 34 2,906,734.34 0.317638% 0.311593%
Foreclosure 121 9,447,160.78 1.130419% 1.012706%
REO 0 0.00 0.000000% 0.000000%
Totals 598 47,165,439.82 5.586697% 5.055989%
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 447,107.52
COLLATERAL STATEMENT
Collateral Description Fixed Mixed & 6 Month LIBOR
Weighted Average Gross Coupon 10.081565%
Weighted Average Net Coupon 9.635245%
Weighted Average Pass-Through Rate 9.615246%
Weighted Average Maturity (Stepdown Calculation) 336
Beginning Scheduled Collateral Loan Count 10,930
Number of Loans Paid in Full 226
Ending Scheduled Collateral Loan Count 10,704
Beginning Scheduled Collateral Balance 955,566,000.95
Ending Scheduled Collateral Balance 932,862,772.17
Ending Actual Collateral Balance at 31-Aug-1998 933,454,019.86
Monthly P&I Constant 8,654,066.47
Ending Scheduled Balance for Premium Loans 925,922,842.97
Scheduled Principal 626,061.20
Unscheduled Principal 22,077,700.55
Group ID 1 2
Collateral Description Mixed Fixed 6 Month LIBOR Arm
Weighted Average Coupon Rate 9.814762 10.230333
Weighted Average Net Rate 9.376722 9.748243
Weighted Average Maturity 326.00 341.00
Record Date 08/31/98 08/31/98
Principal And Interest Constant 3,071,280.83 5,582,785.64
Beginning Loan Count 4,156 6,774
Loans Paid In Full 47 179
Ending Loan Count 4,109 6,595
Beginning Scheduled Balance 342,077,230.51 613,488,770.44
Ending Scheduled Balance 337,860,526.76 595,002,245.41
Scheduled Principal 273,439.73 352,621.47
Unscheduled Principal 3,943,548.12 18,134,152.43
Scheduled Interest 2,797,841.10 5,230,164.17
Servicing Fee 119,168.23 236,239.06
Master Servicing Fee 4,988.64 8,946.70
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 712.67 1,278.11
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 2,672,971.56 4,983,700.30
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 1,055,849.81 3,177,819.38
Overcollateralization Deficiency Amount 5,069,150.19 12,422,180.62
Base Overcollateralization Amount 0.00 0.00
Extra Principal Distribution Amount 356,762.93 1,451,204.69
Excess Cash Amount 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Deliquency Status By Group
Group 30 Day 60 Day 90 + Day Foreclosure REO Bankruptcy
<S> <C> <C> <C> <C> <C> <C>
1 Principal Balance 13,937,819.47 1,214,675.81 518,034.90 760,660.78 0.00 66,900.42
Percentage Of Balance 4.125% 0.360% 0.153% 0.225% 0.000% 0.020%
Loan Count 181 21 10 9 0 2
Percentage Of Loan Count 4.405% 0.511% 0.243% 0.219% 0.000% 0.049%
2 Principal Balance 15,472,405.41 4,186,644.01 2,388,699.44 8,686,500.00 0.00 2,528,631.58
Percentage Of Balance 2.600% 0.704% 0.401% 1.460% 0.000% 0.425%
Loan Count 196 45 24 112 0 26
Percentage Of Loan Count 2.972% 0.682% 0.364% 1.698% 0.000% 0.394%
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