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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) June 11, 1998
Advanta Mortgage Loan Trust 1998-2
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(Exact name of registrant as specified in its charter)
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New York 333-37107 Application Pending
(State or Other (Commission File (I.R.S. Employer
Jurisdiction of Number) Identification No.)
Incorporation) -------------------
c/o Advanta Mortgage Conduit 92127
Services, Inc. (Zip Code)
Attention: Milton Riseman
16875 West Bernardo Drive
San Diego, California
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code (619) 674-1800
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Item 5. Other Events
The consolidated financial statements of Ambac Assurance Corporation
and its subsidiaries as of December 31, 1997 and December 31, 1996 and for the
three years ended December 31, 1997 prepared in accordance with generally
accepted accounting principles, included in the Annual Report on Form 10-K of
Ambac Financial Group, Inc. (which was filed with the Commission on March 31,
1998, Commission File No. 1-10777) and the consolidated financial statements of
Ambac Assurance Corporation and its subsidiaries as of March 31, 1998 and for
the periods ending March 31, 1998 and March 31, 1997 included in the Quarterly
Report on Form 10-Q of Ambac Financial Group, Inc. for the period ended March
31, 1998 (which was filed with the Commission on May 15, 1998) are incorporated
by reference in (i) this Current Report on Form 8-K; (ii) the Registration
Statement on Form S-3 (No. 333-37107); and (iii) the Prospectus Supplement
dated June 11, 1998 for the Advanta Mortgage Loan Trust 1998-2, and shall be
deemed to be part hereof and thereof.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits
Exhibit No.
23.1 Consent of KPMG Peat Marwick LLP
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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 hereunto duly authorized.
ADVANTA MORTGAGE LOAN TRUST 1998-2
By: /s/ Mark T. Dunsheath
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Name: Mark T. Dunsheath
Title: Vice President
Dated: July 6, 1998
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Description Page No.
<S> <C> <C>
23.1 Consent of KPMG Peat Marwick LLP
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EXHIBIT 23.1
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation:
We consent to the incorporation by reference in the registration statement (No.
333-37107) of Advanta Mortgage Loan Trust 1998-2 (the "Registrant") and in the
Prospectus Supplement of the Registrant (the "Prospectus Supplement"), included
in Form 8-K of the Registrant dated July 6, 1998, of our report dated January
29, 1998 on the consolidated financial statements of Ambac Assurance
Corporation as of December 31, 1997 and 1996, and for each of the years in the
three-year period ended December 31, 1997, which report appears in the Form
10-K of Ambac Financial Group, Inc. dated March 31, 1998 and to the reference
to our firm under the heading "Experts" in the Prospectus Supplement.
/s/ KPMG Peat Marwick LLP
New York, New York
July 6, 1998
