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Previous: MONEY STORE HOME EQUITY LOAN TRUST 1998-A, 8-K, 1999-01-26 |
Next: MASTER GRAPHICS INC, S-4, 1999-01-26 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 report) 01/15/99
The Money Store Inc. (as Representative under a Pooling and Servicing
Agreement dated as of February 28, 1998 providing for the issuance of TMS
SBA Loan-Backed Adjustable Rate Certificates, Series 1998-1, Class A and
Class B), The Money Store Investment Corporation, The Money Store
Commercial Mortgage Inc. and The Money Store of New York, Inc.
The Money Store, Inc.
- --------------------------------------------------------------------------------
(Exact name of regristrant as specified in its charter)
New Jersey Applied For
- ---------- -----------
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
- --------------------------------------------------------------------------------
(Address of principal executive officer)
Registrant's Telephone Number,
including area code: 908-686-2000
---------------
n/a
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5 Other Events
--------------------------------------
Attached herein as Annex A is a copy of the Monthly Statement sent to Class
A Certificate holders with respect to Remittance Date of: 01/15/99
<PAGE>
SIGNATURES
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.
THE MONEY STORE INC.
THE MONEY STORE INVESTMENT CORPORATION
THE MONEY STORE COMMERCIAL MORTGAGE INC.
THE MONEY STORE OF NEW YORK INC.
By: \s\ Harry Puglisi
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Name: Harry Puglisi
Title: Treasurer
Dated: 01/29/99
<PAGE>
SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.09 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF FEBRUARY 28, 1998, THE MONEY STORE INVESTMENT CORPORATION REPORTS THE
FOLLOWING INFORMATION PERTAINING TO SERIES 1998-1 FOR THE JANUARY 12, 1999
DETERMINATION DATE
<TABLE>
<S> <C>
1. AVAILABLE FUNDS $4,667,625.58
2. (A) AGGREGATE CLASS A CERTIFICATE
PRINCIPAL BALANCE AS REPORTED IN THE PRIOR MONTH 80,078,345.34
(B) AGGREGATE CLASS B CERTIFICATE
PRINCIPAL BALANCE AS REPORTED IN THE PRIOR MONTH 6,027,402.32
(C) AGGREGATE POOL PRINCIPAL BALANCE
AS REPORTED IN THE PRIOR MONTH 86,105,747.66
3. PRINCIPAL PREPAYMENTS RECEIVED DURING
DUE PERIOD
(A) NUMBER OF ACCOUNTS 3
(B) DOLLARS 188,151.23
4. PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED
BY CURTAILMENTS RECEIVED DURING THE DUE PERIOD 10,051.23
5. PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED
BY ALL EXCESS AND MONTHLY PAYMENTS IN RESPECT OF
PRINCIPAL RECEIVED DURING THE DUE PERIOD 215,173.43
6. AGGREGATE AMOUNT OF INTEREST RECEIVED NET OF THE FTA's
FEE, PREMIUM PROTECTION FEE, ADDITIONAL FEE AND PORTION
PAYABLE TO REGISTERED HOLDERS 990,825.44
7. (A) AMOUNT OF MONTHLY ADVANCE 0.00
(B) AMOUNT OF COMPENSATING INTEREST 685.76
8. DELINQUENCY AND FORECLOSURE INFORMATION
(SEE EXHIBIT K)
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
9. PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED BY
REALIZED LOSSES ON A LIQUIDATED LOAN 0.00
10. (A) CLASS A INTEREST DISTRIBUTION AMOUNT:
(i) ACCRUED INTEREST 395,720.40
(ii) SHORTFALL, IF ANY, ON A PRECEDING
REMITTANCE DATE PLUS INTEREST 0.00
(iii) CLASS A INTEREST DISTRIBUTION AMOUNT
ADJUSTMENT 1,546.91
ADJUSTED CLASS A INTEREST DISTRIBUTION AMOUNT 397,267.31
4.74632389
(B) CLASS B INTEREST DISTRIBUTION AMOUNT:
(i) ACCRUED INTEREST 31,895.10
(ii) SHORTFALL, IF ANY, ON A PRECEDING
REMITTANCE DATE PLUS INTEREST 0.00
(iii) CLASS B INTEREST DISTRIBUTION AMOUNT
ADJUSTMENT 124.58
ADJUSTED CLASS B INTEREST DISTRIBUTION AMOUNT 32,019.68
5.08248889
(C) CLASS A PRINCIPAL DISTRIBUTION AMOUNT:
(i) UNGUARANTEED PERCENTAGE OF PAYMENTS
AND OTHER RECOVERIES OF PRINCIPAL 384,439.57
(ii) PRINCIPAL PORTION OF THE UNGUARANTEED
INTEREST PURCHASED FOR BREACH OF
WARRANTY AND RECEIVED BY THE TRUSTEE 0.00
(iii) SUBSTITUTION ADJUSTMENTS 0.00
(iv) UNGUARANTEED PERCENTAGE OF
LOSSES THAT WERE LIQUIDATED 0.00
(v) UNGUARANTEED PERCENTAGE OF SBA LOAN
DELINQUENT 24 MONTHS OR
UNCOLLECTIBLE 0.00
(vi) AMOUNT RELEASED FROM PRE-FUNDING ACCOUNT 0.00
(vii) RECALCULATED PRINCIPAL ADJUSTMENT 0.00
TOTAL CLASS A PRINCIPAL DISTRIBUTION AMOUNT 384,439.57
4.59306535
(D) CLASS B PRINCIPAL DISTRIBUTION AMOUNT:
(i) UNGUARANTEED PERCENTAGE OF PAYMENTS
AND OTHER RECOVERIES OF PRINCIPAL 28,936.32
(ii) PRINCIPAL PORTION OF THE UNGUARANTEED
INTEREST PURCHASED FOR BREACH OF
WARRANTY AND RECEIVED BY THE TRUSTEE 0.00
(iii) SUBSTITUTION ADJUSTMENTS 0.00
(iv) UNGUARANTEED PERCENTAGE OF
LOSSES THAT WERE LIQUIDATED 0.00
(v) UNGUARANTEED PERCENTAGE OF SBA LOAN
DELINQUENT 24 MONTHS OR
UNCOLLECTIBLE 0.00
(vi) AMOUNT RELEASED FROM PRE-FUNDING ACCOUNT 0.00
(vii) RECALCULATED PRINCIPAL ADJUSTMENT 0.00
TOTAL CLASS B PRINCIPAL DISTRIBUTION AMOUNT 28,936.32
4.59306667
11. (A) AMOUNT AVAILABLE IN THE SPREAD ACCOUNT
IN CASH AND FROM LIQUIDATION OF
PERMITTED INSTRUMENTS 3,460,957.37
(B) TRANSFER FROM SPREAD ACCOUNT TO CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.02(b)(i) 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
12. (A) AGGREGATE CLASS A CERTIFICATE PRINCIPAL
BALANCE AFTER DISTRIBUTIONS TO BE MADE
ON THE REMITTANCE DATE 79,693,905.77
952.13746440
(B) AGGREGATE CLASS B CERTIFICATE PRINCIPAL
BALANCE AFTER DISTRIBUTIONS TO BE MADE
ON THE REMITTANCE DATE 5,998,466.00
952.13746032
(C) POOL PRINCIPAL BALANCE AFTER DISTRIBUTIONS
TO BE MADE ON THE REMITTANCE DATE 85,692,371.77
952.13746411
13. (A) EXCESS SPREAD 236,422.89
(B) EXTRA INTEREST 277,784.40
(C) SPREAD ACCOUNT BALANCE 3,460,957.37
(D) SPECIFIED SPREAD ACCOUNT REQUIREMENT 3,446,489.21
14. (A) WEIGHTED AVERAGE MATURITY 216.323
(B) WEIGHTED AVERAGE SBA LOAN INTEREST RATE 10.313%
15. (A) SERVICING FEE FOR THE RELATED DUE PERIOD 94,255.59
(B) PREMIUM PROTECTION FEE FOR THE RELATED
DUE PERIOD 103,277.53
(C) AMOUNTS TO BE DEPOSITED TO THE EXPENSE
ACCOUNT 4,305.29
16. AMOUNT OF REIMBURSEMENTS PURSUANT TO:
(A) SECTION 5.04 (b) 0.00
(B) SECTION 5.04 (c) 0.00
(C) SECTION 5.04 (d)(ii) 14,964.37
(D) SECTION 5.04 (e) 0.00
(E) SECTION 5.04 (f) 98,812.14
17. (A) CLASS A REMITTANCE RATE 5.930%
(B) CLASS B REMITTANCE RATE 6.350%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
18. (A) AGGREGATE PRINCIPAL BALANCE OF THE SUBSEQUENT SBA
LOANS PURCHASED DURING THE PRIOR DUE PERIOD 0.00
(B) AMOUNT ON DEPOSIT IN THE PRE-FUNDING ACCOUNT AS OF THE END OF
SUCH DUE PERIOD 0.00
19. OTHER INFORMATION AS REQUESTED
</TABLE>
<PAGE>
I, Harry Puglisi, Treasurer, represent that The Money Store Investment
Corporation complied with section 6.09 of the Pooling and Servicing Agreement
dated February 28, 1998 pertaining to Series 1998 - 1 in preparing the
accompanying Servicer's Certificate.
THE MONEY STORE INVESTMENT CORPORATION
BY: _________________________________
HARRY PUGLISI
TREASURER
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