CHEC ASSET RECEIVABLE CORP
8-K, 1999-10-07
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):  September 27, 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 September 27, 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
                                  September 27, 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: 10/5/99


                                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
                September 27, 1999 distribution.






<TABLE>
<CAPTION>
Centex Home Equity Corporation
Mortgage Pass-Through Certificates
Record Date:            8/31/99
Distribution Date:      9/27/99


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%     52,438,702.92      265,252.44    3,072,735.31
    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          5.65875%     51,140,699.89      265,276.40    1,588,001.48
    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%      5,174,700.96            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       30,106.00            0.00
Totals                                                    246,021,103.77    1,283,251.46    4,660,736.79
</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          49,365,967.60             3,337,987.75                      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          49,552,698.42             1,853,277.88                      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           6,066,136.30                     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                30,106.00                      0.00
Totals                         0.00         242,251,802.32             5,943,988.25                      0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.

</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      52,438,702.92               0.00    3,072,735.31           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      51,140,699.89               0.00    1,588,001.48           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       5,174,700.96               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     246,021,103.77               0.00    4,660,736.79           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                           3,072,735.31         49,365,967.60           0.75947642      3,072,735.31
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                           1,588,001.48         49,552,698.42           0.84183100      1,588,001.48
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          6,066,136.30         418.86235095              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                        4,660,736.79        242,251,802.32           0.92765430      4,660,736.79
</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        806.74927569         0.00000000         47.27285092        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        868.80892734         0.00000000         26.97792297        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     357309.38151868         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         47.27285092            759.47642462          0.75947642        47.27285092
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         26.97792297            841.83100454          0.84183100        26.97792297
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        418,862.35094850        418.86235095         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%      52,438,702.92          265,252.44           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        5.65875%      51,140,699.89          265,276.40           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%       5,174,700.96                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           30,106.00           0.00             0.00
Totals            261,144,482.41                                           1,283,251.46           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           265,252.44                0.00      49,365,967.60
 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           265,276.40                0.00      49,552,698.42
 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       6,066,136.30
 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            30,106.00                0.00               0.00
 Totals                         0.00                0.00         1,283,251.46                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%         806.74927569        4.08080677        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        5.65875%         868.80892734        4.50667482        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%      357309.38151868        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      922.33693821        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         4.08080677          0.00000000          759.47642462
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         4.50667482          0.00000000          841.83100454
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       418862.35094850
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       922.33693821          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>
                                             CERTIFICATEHOLDER ACCOUNT STATEMENT
                                                      CERTIFICATE ACCOUNT

<S>                                                                                   <C>
Beginning Balance                                                                                        0.00
Deposits
    Payments of Interest and Principal                                                           5,947,932.95
    Liquidations, Insurance Proceeds, Reserve Funds                                                      0.00
    Proceeds from Repurchased Loans                                                                      0.00
    Other Amounts (Servicer Advances)                                                               99,520.31
    Realized Losses                                                                                      0.00
Total Deposits                                                                                   6,047,453.26

Withdrawals
    Reimbursement for Servicer Advances                                                                  0.00
    Payment of Service Fee                                                                         103,465.00
    Payment of Interest and Principal                                                            5,943,988.26
Total Withdrawals (Pool Distribution Amount)                                                     6,047,453.26

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                                                                                102,439.91
Pool Insurance Fee                                                                                       0.00
Trustee Fee - Norwest Bank                                                                           1,025.09
Supported Prepayment/Curtailment Interest Shortfall                                                      0.00
Net Servicing Fee                                                                                  103,465.00

</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>                           CERTIFICATEHOLDER DELINQUENCY/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                                  46      2,913,549.74               1.338376%          1.202695%
60 Days                                  31      2,451,566.92               0.901949%          1.011991%
90+ Days                                  9        644,812.44               0.261856%          0.266174%
Foreclosure                              65      4,528,986.13               1.891184%          1.869537%
REO                                       4        165,711.93               0.116381%          0.068405%
Totals                                  155     10,704,627.16               4.509747%          4.418802%
</TABLE>
<TABLE>
<CAPTION>

                                                       OTHER INFORMATION
<S>                                                                             <C>
Current Period Realized Loss - Includes Interest Shortfall                                           0.00
Cumulative Realized Losses - Includes Interest Shortfall                                        23,426.08
Principal Balance of Contaminated Properties                                                         0.00
Current Period Class A Insufficient Funds                                                            0.00
Periodic Advance                                                                                99,520.31
</TABLE>






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

 Weighted Average Gross Coupon                                        11.111982%
 Weighted Average Net Coupon                                          10.612318%
 Weighted Average Pass-Through Rate                                   10.607318%
 Weighted Average Maturity(Stepdown Calculation )                            351
 Beginning Scheduled Collateral Loan Count                                 3,490

 Number Of Loans Paid In Full                                                 53
 Ending Scheduled Collateral Loan Count                                    3,437
 Beginning Scheduled Collateral Balance                           246,021,103.77
 Ending Scheduled Collateral Balance                              242,251,802.32
 Ending Actual Collateral Balance at 31-Aug-1999                  242,251,802.32
 Monthly P &I Constant                                              2,449,272.61
 Ending Scheduled Balance for Premium Loans                       242,251,802.32
 </TABLE>
<TABLE>
<CAPTION>
           <S>                                        <C>
Largest Loan Balance - Group 1                                    746,600.57
Largest Loan Balance - Group 2                                    476,430.71
Number and Balance of Balloon Loans -                        4    207,821.04
Group 1
Number and Balance of Balloon Loans -                        0          0.00
Group 2
Annual Loss Percentage - Group 1                                    0.01285%
Annual Loss Percentage - Group 2                                       0.00%
90+ Delinquency Percentage - Group 1                               1.810434%
90+ Delinquency Percentage - Group 2                               3.143474%
</TABLE>
 <TABLE>
 <CAPTION>
                                      Group Level Collateral Statement
 <S>                                                                <C>
 Group ID                                                                     1                         2                   Total
 Collateral Description                                             Mixed Fixed                 Mixed ARM
 Weighted Average Coupon Rate                                         11.091229                 11.161296
 Weighted Average Net Rate                                            10.586706                 10.656296
 Weighted Average Maturity                                               313.00                    351.00
 Beginning Loan Count                                                     2,752                       738                   3,490
 Loans Paid In Full                                                          41                        12                      53
 Ending Loan Count                                                        2,711                       726                   3,437
 Beginning Scheduled Balance                                     173,149,742.66             72,871,361.11          246,021,103.77
 Ending scheduled Balance                                        170,460,859.44             71,790,942.88          242,251,802.32
 Record Date                                                            8/31/99                   8/31/99
 Principal And Interest Constant                                   1,745,220.09                704,052.52            2,449,272.61
 Scheduled Principal                                                 144,850.62                 26,270.18              171,120.80
 Unscheduled Principal                                             2,544,032.60              1,054,148.05            3,598,180.65
 Scheduled Interest                                                1,600,369.47                677,782.34            2,278,151.81


 Servicing Fees                                                       72,076.84                 30,363.07              102,439.91
 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                                                               721.46                    303.63                1,025.09
 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                                                      1,527,571.17                647,115.64            2,174,686.81
 Realized Loss Amount                                                      0.00                      0.00                    0.00
 Cumulative Realized Loss                                             23,426.08                      0.00               23,426.08


 Group ID                                                                    1                          2                    Total
 Subordinate Amount                                               3,827,891.84               2,238,244.46             6,066,136.30
 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                                        383,852.09                 272,946.24               656,798.34
 Extra Principal Distribution Amount                                383,852.09                 272,946.24               656,798.34
 Excess Cash Amount                                                 618,489.11                 272,946.24               891,435.35



 </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      1,823,528.78    1,475,068.47       568,050.66   2,349,318.00      165,711.93    1,632,960.44
        Percentage Of Balance        1.070%          0.865%           0.333%         1.378%          0.097%          0.958%
        Loan Count                       34              24                8             43               4              21
        Percentage Of Loans          1.254%          0.885%           0.295%         1.586%          0.148%          0.775%

  2     Principal Balance      1,090,020.96      976,498.45        76,761.78   2,179,668.13            0.00      399,759.60
        Percentage Of Balance        1.518%          1.360%           0.107%         3.036%          0.000%          0.557%
        Loan Count                       12               7                1             22               0               6
        Percentage Of Loans          1.653%          0.964%           0.138%         3.030%          0.000%          0.826%

 Totals:Principal Balance      2,913,549.74    2,451,566.92       644,812.44   4,528,986.13      165,711.93    2,032,720.04
        Percentage of Balance        1.203%          1.012%           0.266%         1.870%          0.068%          0.839%
        Loan Count                       46              31                9             65               4              27
        Percentage Of Loans          1.338%          0.902%           0.262%         1.891%          0.116%          0.786%

 </TABLE>









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