CHEC ASSET RECEIVABLE CORP
8-K, 1999-08-05
ASSET-BACKED SECURITIES
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                                  UNITED STATES
                       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):  July 26, 1999

                         CENTEX HOME EQUITY CORPORATION
            Home Equity Loan Asset-Backed Certs., Series 1999-1 Trust


New York (governing law of          333-54027      52-2154821
Pooling and Servicing Agreement)    (Commission    52-2154845
(State or other                     File Number)   IRS EIN
jurisdiction


        c/o Norwest Bank Minnesota, N.A.
        11000 Broken Land Parkway                            21044
        Columbia, MD                                        (Zip Code)
        (Address of principal executive offices)


       Registrant's telephone number, including area code:  (410) 884-2000



          Former name or former address, if changed since last report)


ITEM 5.  Other Events

On July 26, 1999 a distribution was made to holders of CENTEX HOME EQUITY
CORPORATION, Home Equity Loan Asset-Backed Certs., Series 1999-1 Trust.



  ITEM 7.  Financial Statements and Exhibits

        (c)  Exhibits furnished in accordance with Item 601(a) of
  Regulation S-K

             Exhibit Number                      Description
                                 Monthly report distributed to holders of
             EX-99.1             Home Equity Loan Asset-Backed Certs.,
                                 Series 1999-1 Trust, relating to the July
                                 26, 1999 distribution.






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.



                          CENTEX HOME EQUITY CORPORATION
             Home Equity Loan Asset-Backed Certs., Series 1999-1 Trust

              By:   Norwest Bank Minnesota, N.A., as Trustee
              By:   /s/ Sherri J. Sharps, Vice President
              By:   Sherri J. Sharps, Vice President
              Date: 8/2/99


                                INDEX TO EXHIBITS

Exhibit Number                   Description

EX-99.1        Monthly report distributed to holders of Home Equity Loan
                Asset-Backed Certs., Series 1999-1 Trust, relating to the July
                26, 1999 distribution.






<TABLE>
<CAPTION>
Centex Home Equity Corporation
Mortgage Pass-Through Certificates
Record Date:            6/30/99
Distribution Date:     7/26/99

CHEC  Series: 1999-1

Contact: Customer Service - Columbia,  MD
         Norwest Bank Minnesota, N.A.
         Securities Administration Services
         11000 Broken Land Parkway
         Columbia, MD 21044
         Telephone: (301) 815-6600
         Fax:       (410) 884-2369


                                             Certificateholder Distribution Summary

                       Certificate      Certificate        Beginning
                          Class        Pass-Through      Certificate       Interest      Principal
Class          CUSIP   Description             Rate          Balance   Distribution   Distribution
<S>          <C>        <C>            <C>            <C>               <C>             <C>
    A-1        152314AW0         SEQ          6.07000%     57,533,002.24      291,021.10    2,694,319.23
    A-2        152314AX8         SEQ          6.04500%     20,000,000.00      100,750.00            0.00
    A-3        152314AY6         SEQ          6.24000%     33,000,000.00      171,600.00            0.00
    A-4        152314AZ3         SEQ          6.39000%     27,000,000.00      143,775.00            0.00
    A-5        152314BA7         SEQ          6.83500%     19,267,000.00      109,741.62            0.00
    A-6        152314BB5         SEQ          6.45000%     18,000,000.00       96,750.00            0.00
    A-7        152314BC3         SEQ          5.41250%     54,710,415.02      254,992.32    1,587,989.73
    A-8        152314BD1         SEQ          6.00000%     20,000,000.00      100,000.00            0.00
    X-IO       CTX991XIO         SEQ          0.00000%              0.00            0.00            0.00
     OC        CTX9901OC         SUB          0.00000%      3,344,392.91            0.00            0.00
    R-1        CTX9901R1         SEQ          0.00000%              0.00            0.00            0.00
    R-2        CTX9901R2         SEQ          0.00000%              0.00            0.00            0.00
    MBIA       CTX9901FS         SUB      1,200.00000%              0.00       31,189.00            0.00
Totals                                                    252,854,810.17    1,299,819.04    4,282,308.96
</TABLE>
<TABLE>
<CAPTION>

                                       Certificateholder Distribution Summary (continued)

                          Current                Ending                                       Cumulative
                         Realized           Certificate                   Total                 Realized
Class                        Loss               Balance            Distribution                   Losses
<S>           <C>                  <C>                     <C>                      <C>
A-1                            0.00          54,838,683.01             2,985,340.33                      0.00
A-2                            0.00          20,000,000.00               100,750.00                      0.00
A-3                            0.00          33,000,000.00               171,600.00                      0.00
A-4                            0.00          27,000,000.00               143,775.00                      0.00
A-5                            0.00          19,267,000.00               109,741.62                      0.00
A-6                            0.00          18,000,000.00                96,750.00                      0.00
A-7                            0.00          53,122,425.29             1,842,982.05                      0.00
A-8                            0.00          20,000,000.00               100,000.00                      0.00
X-IO                           0.00                   0.00                     0.00                      0.00
OC                             0.00           4,271,462.58                     0.00                      0.00
R-1                            0.00                   0.00                     0.00                      0.00
R-2                            0.00                   0.00                     0.00                      0.00
MBIA                           0.00                   0.00                31,189.00                      0.00
Totals                         0.00         249,499,570.88             5,582,128.00                      0.00
<FN>
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.
</FN>
</TABLE>
<TABLE>
<CAPTION>

                                                Principal Distribution Statement

                        Original         Beginning        Scheduled     Unscheduled
                            Face       Certificate        Principal       Principal                     Realized
Class                     Amount           Balance     Distribution    Distribution     Accretion       Loss (1)
<S>             <C>               <C>                 <C>               <C>             <C>             <C>
A-1                  65,000,000.00      57,533,002.24              0.00     2,694,319.23           0.00            0.00
A-2                  20,000,000.00      20,000,000.00              0.00             0.00           0.00            0.00
A-3                  33,000,000.00      33,000,000.00              0.00             0.00           0.00            0.00
A-4                  27,000,000.00      27,000,000.00              0.00             0.00           0.00            0.00
A-5                  19,267,000.00      19,267,000.00              0.00             0.00           0.00            0.00
A-6                  18,000,000.00      18,000,000.00              0.00             0.00           0.00            0.00
A-7                  58,863,000.00      54,710,415.02              0.00     1,587,989.73           0.00            0.00
A-8                  20,000,000.00      20,000,000.00              0.00             0.00           0.00            0.00
X-IO                          0.00               0.00              0.00             0.00           0.00            0.00
OC                       14,482.41       3,344,392.91              0.00             0.00           0.00            0.00
R-1                           0.00               0.00              0.00             0.00           0.00            0.00
R-2                           0.00               0.00              0.00             0.00           0.00            0.00
MBIA                          0.00               0.00              0.00             0.00           0.00            0.00
Totals              261,144,482.41     252,854,810.17              0.00     4,282,308.96           0.00            0.00
<FN>
(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.
</FN>
</TABLE>
<TABLE>
<CAPTION>

                                          Principal Distribution Statement (continued)

                                   Total               Ending              Ending            Total
                               Principal          Certificate         Certificate        Principal
Class                          Reduction              Balance          Percentage     Distribution
<S>               <C>                     <C>                    <C>                 <C>
A-1                           2,694,319.23         54,838,683.01           0.84367205      2,694,319.23
A-2                                   0.00         20,000,000.00           1.00000000              0.00
A-3                                   0.00         33,000,000.00           1.00000000              0.00
A-4                                   0.00         27,000,000.00           1.00000000              0.00
A-5                                   0.00         19,267,000.00           1.00000000              0.00
A-6                                   0.00         18,000,000.00           1.00000000              0.00
A-7                           1,587,989.73         53,122,425.29           0.90247567      1,587,989.73
A-8                                   0.00         20,000,000.00           1.00000000              0.00
X-IO                                  0.00                  0.00           0.00000000              0.00
OC                                    0.00          4,271,462.58         294.94142066              0.00
R-1                                   0.00                  0.00           0.00000000              0.00
R-2                                   0.00                  0.00           0.00000000              0.00
MBIA                                  0.00                  0.00           0.00000000              0.00
Totals                        4,282,308.96        249,499,570.88           0.95540817      4,282,308.96
</TABLE>
<TABLE>
<CAPTION>

                                              Principal Distribution Factors Statement

                          Original          Beginning         Scheduled        Unscheduled
                              Face        Certificate         Principal          Principal
Class (2)                   Amount            Balance      Distribution       Distribution        Accretion
<S>          <C>                    <C>                 <C>                 <C>                <C>
A-1                    65,000,000.00        885.12311138         0.00000000         41.45106508        0.00000000
A-2                    20,000,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
A-3                    33,000,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
A-4                    27,000,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
A-5                    19,267,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
A-6                    18,000,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
A-7                    58,863,000.00        929.45339211         0.00000000         26.97772336        0.00000000
A-8                    20,000,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
X-IO                            0.00          0.00000000         0.00000000          0.00000000        0.00000000
OC                         14,482.41     230927.92636032         0.00000000          0.00000000        0.00000000
R-1                             0.00          0.00000000         0.00000000          0.00000000        0.00000000
R-2                             0.00          0.00000000         0.00000000          0.00000000        0.00000000
MBIA                            0.00          0.00000000         0.00000000          0.00000000        0.00000000
<FN>
(2)  All Classes are per $1,000 denomination
</FN>
</TABLE>
<TABLE>
<CAPTION>

                                      Principal Distribution Factors Statement (continued)
                                              Total                Ending              Ending             Total
                        Realized          Principal           Certificate         Certificate         Principal
Class                   Loss (3)          Reduction               Balance          Percentage      Distribution

<S>            <C>                 <C>                 <C>                    <C>                 <C>
A-1                     0.00000000         41.45106508            843.67204631          0.84367205        41.45106508
A-2                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
A-3                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
A-4                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
A-5                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
A-6                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
A-7                     0.00000000         26.97772336            902.47566876          0.90247567        26.97772336
A-8                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
X-IO                    0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
OC                      0.00000000          0.00000000        294,941.42066134        294.94142066         0.00000000
R-1                     0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
R-2                     0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
MBIA                    0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
    Unless Otherwise Disclosed.
    Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>

                                                 Interest Distribution Statement

                                                      Beginning                       Payment of
                      Original        Current      Certificate/            Current        Unpaid         Current
                          Face    Certificate          Notional            Accrued     Interest         Interest
Class                   Amount           Rate           Balance           Interest     Shortfall       Shortfall
<S>           <C>               <C>             <C>                 <C>                <C>             <C>
A-1                65,000,000.00        6.07000%      57,533,002.24          291,021.10           0.00             0.00
A-2                20,000,000.00        6.04500%      20,000,000.00          100,750.00           0.00             0.00
A-3                33,000,000.00        6.24000%      33,000,000.00          171,600.00           0.00             0.00
A-4                27,000,000.00        6.39000%      27,000,000.00          143,775.00           0.00             0.00
A-5                19,267,000.00        6.83500%      19,267,000.00          109,741.62           0.00             0.00
A-6                18,000,000.00        6.45000%      18,000,000.00           96,750.00           0.00             0.00
A-7                58,863,000.00        5.41250%      54,710,415.02          254,992.33           0.00             0.00
A-8                20,000,000.00        6.00000%      20,000,000.00          100,000.00           0.00             0.00
X-IO                        0.00        0.00000%               0.00                0.00           0.00             0.00
OC                     14,482.41        0.00000%       3,344,392.91                0.00           0.00             0.00
R-1                         0.00        0.00000%               0.00                0.00           0.00             0.00
R-2                         0.00        0.00000%               0.00                0.00           0.00             0.00
MBIA                        0.00    1,200.00000%               0.00           31,189.00           0.00             0.00
Totals            261,144,482.41                                           1,299,819.05           0.00             0.00
</TABLE>
 <TABLE>
 <CAPTION>

                                            Interest Distribution Statement (continued)

                                                                                   Remaining            Ending
                     Non-Supported                                  Total             Unpaid      Certificate/
                          Interest            Realized           Interest          Interest           Notional
 Class                   Shortfall          Losses (4)       Distribution          Shortfall           Balance
 <S>            <C>                  <C>                 <C>                 <C>                 <C>
 A-1                            0.00                0.00           291,021.10                0.00      54,838,683.01
 A-2                            0.00                0.00           100,750.00                0.00      20,000,000.00
 A-3                            0.00                0.00           171,600.00                0.00      33,000,000.00
 A-4                            0.00                0.00           143,775.00                0.00      27,000,000.00
 A-5                            0.00                0.00           109,741.62                0.00      19,267,000.00
 A-6                            0.00                0.00            96,750.00                0.00      18,000,000.00
 A-7                            0.00                0.00           254,992.32                0.00      53,122,425.29
 A-8                            0.00                0.00           100,000.00                0.00      20,000,000.00
 X-IO                           0.00                0.00                 0.00                0.00               0.00
 OC                             0.00                0.00                 0.00                0.00       4,271,462.58
 R-1                            0.00                0.00                 0.00                0.00               0.00
 R-2                            0.00                0.00                 0.00                0.00               0.00
 MBIA                           0.00                0.00            31,189.00                0.00               0.00
 Totals                         0.00                0.00         1,299,819.04                0.00
 <FN>
 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
     Please Refer to the Prospectus Supplement for a Full Description.
 </FN>
 </TABLE>
<TABLE>
<CAPTION>

                                            Interest Distribution Factors Statement

                                                          Beginning                        Payment of
                        Original        Current        Certificate/          Current           Unpaid          Current
                            Face    Certificate            Notional          Accrued        Interest          Interest
Class (5)                 Amount           Rate             Balance         Interest        Shortfall        Shortfall
<S>           <C>                 <C>             <C>                  <C>               <C>               <C>
A-1                  65,000,000.00        6.07000%         885.12311138        4.47724769        0.00000000        0.00000000
A-2                  20,000,000.00        6.04500%        1000.00000000        5.03750000        0.00000000        0.00000000
A-3                  33,000,000.00        6.24000%        1000.00000000        5.20000000        0.00000000        0.00000000
A-4                  27,000,000.00        6.39000%        1000.00000000        5.32500000        0.00000000        0.00000000
A-5                  19,267,000.00        6.83500%        1000.00000000        5.69583329        0.00000000        0.00000000
A-6                  18,000,000.00        6.45000%        1000.00000000        5.37500000        0.00000000        0.00000000
A-7                  58,863,000.00        5.41250%         929.45339211        4.33196286        0.00000000        0.00000000
A-8                  20,000,000.00        6.00000%        1000.00000000        5.00000000        0.00000000        0.00000000
X-IO                          0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
OC                       14,482.41        0.00000%      230927.92636032        0.00000000        0.00000000        0.00000000
R-1                           0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
R-2                           0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
MBIA                          0.00    1,200.00000%           0.00000000      955.51606875        0.00000000        0.00000000
<FN>
(5)  All Classes are per $1,000 denomination

</FN>
</TABLE>
<TABLE>
<CAPTION>
                                       Interest Distribution Factors Statement (continued)

                                                                            Remaining              Ending
                  Non-Supported                               Total            Unpaid        Certificate/
                       Interest         Realized           Interest          Interest            Notional
Class                 Shortfall       Losses (6)       Distribution         Shortfall             Balance
<S>           <C>               <C>               <C>                 <C>                 <C>
A-1                   0.00000000        0.00000000         4.47724769          0.00000000          843.67204631
A-2                   0.00000000        0.00000000         5.03750000          0.00000000         1000.00000000
A-3                   0.00000000        0.00000000         5.20000000          0.00000000         1000.00000000
A-4                   0.00000000        0.00000000         5.32500000          0.00000000         1000.00000000
A-5                   0.00000000        0.00000000         5.69583329          0.00000000         1000.00000000
A-6                   0.00000000        0.00000000         5.37500000          0.00000000         1000.00000000
A-7                   0.00000000        0.00000000         4.33196269          0.00000000          902.47566876
A-8                   0.00000000        0.00000000         5.00000000          0.00000000         1000.00000000
X-IO                  0.00000000        0.00000000         0.00000000          0.00000000            0.00000000
OC                    0.00000000        0.00000000         0.00000000          0.00000000       294941.42066134
R-1                   0.00000000        0.00000000         0.00000000          0.00000000            0.00000000
R-2                   0.00000000        0.00000000         0.00000000          0.00000000            0.00000000
MBIA                  0.00000000        0.00000000       955.51606875          0.00000000            0.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
    Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>



<TABLE>
<CAPTION>

                                                      CERTIFICATEHOLDERS ACCOUNT STATEMENT

<S>                                                                                   <C>
Beginning Balance                                                                                        0.00
Deposits
    Payments of Interest and Principal                                                           5,622,385.83
    Liquidations, Insurance Proceeds, Reserve Funds                                                      0.00
    Proceeds from Repurchased Loans                                                                      0.00
    Other Amounts (Servicer Advances)                                                               66,126.42
    Realized Losses                                                                                      0.00
Total Deposits                                                                                   5,688,512.25

Withdrawals
    Reimbursement for Servicer Advances                                                                  0.00
    Payment of Service Fee                                                                         106,384.25
    Payment of Interest and Principal                                                            5,582,128.00
Total Withdrawals (Pool Distribution Amount)                                                     5,688,512.25

Ending Balance                                                                                           0.00

</TABLE>
<TABLE>
<CAPTION>

                                            PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<S>                                                                                   <C>

Total Prepayment/Curtailment Interest Shortfall                                                          0.00
Servicing Fee Support                                                                                    0.00
Non-Supported Prepayment/Curtailment Interest Shortfall                                                  0.00
</TABLE>
<TABLE>
<CAPTION>

                                                         SERVICING FEES

<S>                                                                                   <C>
Gross Servicing Fee                                                                                105,330.69
Pool Insurance Fee                                                                                       0.00
Trustee Fee - Norwest Bank                                                                           1,053.56
Supported Prepayment/Curtailment Interest Shortfall                                                      0.00
Net Servicing Fee                                                                                  106,384.25

</TABLE>
<TABLE>
<CAPTION>
                                                         OTHER ACCOUNTS

                                               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>
<TABLE>
<CAPTION>
                             Certificate Deliquency / Credit Enhancement Statement
                                                DELINQUENCY STATUS

                                                                            Percentage Delinquent
                                                                                  Based On
                                   Current           Unpaid
                                    Number        Principal                 Number            Unpaid
                                  Of Loans          Balance               Of Loans           Balance
<S>                        <C>                 <C>                   <C>                <C>
30 Days                                  42      2,128,626.77               1.189465%          0.853158%
60 Days                                  30      2,074,385.64               0.849618%          0.831419%
90+ Days                                  5        440,673.87               0.141603%          0.176623%
Foreclosure                              35      2,406,746.17               0.991221%          0.964629%
REO                                       1         60,800.00               0.028321%          0.024369%
Totals                                  113      7,111,232.45               3.200227%          2.850198%
</TABLE>
<TABLE>
<CAPTION>
                                                       OTHER INFORMATION

<S>                                                                             <C>
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                                                                                66,126.42
</TABLE>






<TABLE>
<CAPTION>
                              COLLATERAL STATEMENT
<S>                                                                       <C>
Collateral Description                               Fixed Mixed & 6 Month LIBOR

Weighted Average Gross Coupon                                        11.073262%
Weighted Average Net Coupon                                          10.573382%
Weighted Average Pass-Through Rate                                   10.568383%
Weighted Average Maturity(Stepdown Calculation )                            353
Beginninh Scheduled Collateral Loan Count                                 3,572

Number Of Loans Paid In Full                                                 41
Ending Scheduled Collateral Loan Count                                    3,531
Beginning Scheduled Collateral Balance                           252,854,810.17
Ending Scheduled Collateral Balance                              249,499,570.88
Ending Actual Collateral Balance at 30-Jun-1999                  249,499,570.88
Monthly P &I Constant                                              2,508,711.07
Ending Scheduled Balance for Premium Loans                       249,499,570.88
</TABLE>
<TABLE>
<CAPTION>
           <S>                                        <C>
Largest Loan Balance - Group 1                                    747,469.46
Largest Loan Balance - Group 2                                    476,781.29
Number and Balance of Balloon Loans -              6 loans:  bal. 297,533.37
Group 1
Number and Balance of Balloon Loans -            0 loans  bal.            0.
Group 2                                                                   00
Annual Loss Percentage - Group 1                                       0.00%
Annual Loss Percentage - Group 2                                       0.00%
90+ Delinquency Percentage - Group 1                             0.00400748%
90+ Delinquency Percentage - Group 2                             0.00751581%
</TABLE>
 <TABLE>
 <CAPTION>
                                      Group Level Collateral Statement
 <S>                                                                <C>
 Group ID                                            1                         2                 Total
 Collateral Description                    Mixed Fixed                 Mixed ARM
 Weighted Average Coupon Rate                11.111057                 10.985044
 Weighted Average Net Rate                   10.606230                 10.480044
 Weighted Average Maturity                      315.00                    353.00
 Beginning Loan Count                            2,808                       764                 3,572
 Loans Paid In Full                                 29                        12                    41
 Ending Loan Count                               2,779                       752                 3,531
 Beginning Scheduled Balance            177,015,720.34             75,839,089.83        252,854,810.17
 Ending scheduled Balance               174,950,471.29             74,549,099.59        249,499,570.88
 Record Date                                   6/30/99                   6/30/99
 Principal And Interest Constant          1,786,689.58                722,021.49          2,508,711.07
 Scheduled Principal                        147,663.06                 27,775.05            175,438.11
 Unscheduled Principal                    1,917,585.99              1,262,215.19          3,179,801.18
 Scheduled Interest                       1,639,026.52                694,246.44          2,333,272.96


 Servicing Fees                              73,731.06                 31,599.63            105,330.69
 Master Servicing Fees                            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                                      737.56                    316.00              1,053.56
 Pool Insurance Fee                               0.00                      0.00                  0.00
 Spread Fee 1                                     0.00                      0.00                  0.00
 Spread Fee 2                                     0.00                      0.00                  0.00
 Spread Fee 3                                     0.00                      0.00                  0.00
 Net Interest                             1,564,557.90                662,330.81          2,226,888.71
 Realized Loss Amount                             0.00                      0.00                  0.00
 Cumulative Realized Loss                         0.00                      0.00                  0.00
 Percenage of Cummalative Losses                  0.00                      0.00                  0.00

                                                    1                          2                 Total
 Subordinate Amount                      2,844,788.28               1,426,674.30          4,271,462.58
 Subordinate Reduction Amount                    0.00                       0.00                  0.00
 Required Subordinate Amount             3,827,891.84               3,430,580.46          7,258,472.30
 Subordinate Increase Amount               629,070.18                 297,999.49            927,069.67
 Extra Principal Distribution Amount       629,070.18                 297,999.49            927,069.67
 Excess Cash Amount                        629,070.18                 297,999.49            927,069.67



 </TABLE>

     <TABLE>
     <CAPTION>                                          Delinquency Status By Groups
       <S>                         <C>               <C>            <C>             <C>           <C>             <C>
 Group
                                  30 Days          60 Days       90 + Days      Foreclosure       REO           Bankruptcy
  1  Principal Balance         1,192,995.06     1,472,714.39      260,532.87   1,238,252.33       60,800.00   1,223,764.56
     Percentage Of Balance           0.682%           0.842%          0.149%         0.708%          0.035%         0.699%
     Loan Count                          29               23               3             22               1             14
     Percentage Of Loans             1.044%           0.828%          0.108%         0.792%          0.036%         0.504%

  2  Principal Balance           935,631.71       601,671.25      180,141.00   1,168,493.84            0.00     634,928.12
     Percentage Of Balance           1.255%           0.807%          0.242%         1.567%          0.000%         0.852%
     Loan Count                          13                7               2             13               0              7
     Percentage Of Loans             1.729%           0.931%          0.266%         1.729%          0.000%         0.931%


Totals

     Principal Balance         2,128,626.77     2,074,385.64      440,673.87   2,406,746.17       60,800.00   1,858,692.68
     Percentage Of Balance           0.853%           0.831%          0.177%         0.965%          0.024%         0.745%
     Loan Count                          42               30               5             35               1             21
     Percentage Of Loans             1.189%           0.850%          0.142%         0.991%          0.028%         0.595%

 </TABLE>





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