SECURITIMMISS ION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant15(d) of the Securities Exchange Act of 1934
Date of Report: 25-Sep-98
ADVANTA 1998 -2
New York 33-99510-08 33-0816529
c/o ADVA, USA
Attn: William P. Garland
16875 West Bernardo Drive
San Diego, Ca 92127
(619) 674-1800
Item 5. Other Events
Informate dis tributions to Certificate holders
for the ly Pe riod of the Trust in respect of
the Mortcked Certificates, Series 1998-2
Class A ") is sued by the Registrant and the
performainclu ding distributions of principal
and intealanc es of Home Equity Loans,
and the t rem aining), together with certain other
informate cer tificates, is contained in the
Monthly thly Period provided to certificateholders
pursuantd Ser vicing Agreement (the "Agreement")
dated asetwee n ADVANTA Mortgage Corp.,
USA as Srs Tr ust Company, as Trustee.
Item 7. Financial Statements, Exhibits
Exhibit o. Exhibit
1Monthly Report for the August,1998 Monthly
period relating to the Mortgage Loan Asset-
Backed Certificates Series 1998-2, Class A
issued by the ADVANTA Mortgage Loan
Trust 1998-2.
EXHIBIT INDEX
Exhibit
1. eport for the August, 1998 Monthly
Period rlatin g to the Mortgage Loan Asset-Backed
Certifictes, Series 1998-2, Class A issued by the
ADVANTA ortga ge Loan Trust 1998-2.
SIGNATURE
Pursuantts of the Securities Exchange Act
of 1934,s dul y caused this report to be signed
on its bsigne d thereunto duly authorized.
ADVANTA t 199 2-Aug
BY: ortga ge Corp., USA
BY: am P. Garland
William . Gar land
Senior Vce Pr esident
Loan Serice A dministration
30-Sep-98
<TABLE>
EXHIBIT 1
ADVANTA ortga ge Loan Trust 1998-2
Sta tement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Balance Interest Principal Total
<S> <C> <C> <C> <C>
A-1 000,0 0 69,314,878 371,9 2,419,764 2,791,754.74
A-2 000,0 0 41,000,000 209,1 209,100.00
A-3 000,0 0 34,000,000 175,3 175,383.33
A-4 000,0 0 17,000,000 89,3 89,391.67
A-5 000,0 0 24,000,000 126,6 126,600.00
A-6 000,0 0 27,000,000 149,1 149,175.00
A-7 000,0 0 15,000,000 76,8 76,875.00
A-8 ,000, 0 9,000,00 47,7 47,700.00
A-9 000,0 0 82,857,416 444,6 3,710,243 4,154,911.74
A-10 000,0 0 61,000,000 311,1 311,100.00
A-11 000,0 0 38,000,000 196,6 196,650.00
A-12 000,0 0 28,000,000 147,7 147,700.00
A-13 000,0 0 28,000,000 148,4 148,400.00
A-14 000,0 0 36,000,000 199,5 199,500.00
A-15 000,0 0 31,000,000 161,4 161,458.33
A-16 00,00 0 175,213,267. 876,3 3,166,170 4,042,537.14
A-17 000,0 0 60,000,000 302,5 302,500.00
A-18 50,00 0 98,364,748 491,9 1,828,253 2,320,245.87
A-19 750,0 0 33,750,000 170,1 170,156.25
F-IO* 000,0 0 55,000,000 229,1 229,166.67
A-IO* 750,0 0 93,750,000 390,6 390,625.00
RS -
Totals 00,00 0 908,500,311. 5,316,49 11,124,433. 16,440,930.74
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Interest Balance Current Next
<S> <C> <C> <C> <C>
A-1 66,895,113 6.440000% 6.440000%
A-2 41,000,000 6.120000% 6.120000%
A-3 34,000,000 6.190000% 6.190000%
A-4 17,000,000 6.310000% 6.310000%
A-5 24,000,000 6.330000% 6.330000%
A-6 27,000,000 6.630000% 6.630000%
A-7 15,000,000 6.150000% 6.150000%
A-8 9,000,00 6.360000% 6.360000%
A-9 79,147,173 6.440000% 6.440000%
A-IO 61,000,000 6.120000% 6.120000%
A-11 38,000,000 6.210000% 6.210000%
A-12 28,000,000 6.330000% 6.330000%
A-13 28,000,000 6.360000% 6.360000%
A-14 36,000,000 6.650000% 6.650000%
A-15 31,000,000 6.250000% 6.250000%
A-16 172,047,097. 5.808440% 5.753750%
A-17 60,000,000 6.050000% 6.050000%
A-18 96,536,494 5.808440% 5.753750%
A-19 33,750,000 6.050000% 6.050000%
F-IO* 55,000,000 5.000000% 5.000000%
A-IO* 93,750,000 5.000000% 5.000000%
RS 0.000000% 0.000000%
Totals ########
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C>
A-1 FD3 949.518888 5.095751 33.147464 38.243215 916.371424
A-2 FE1 1000 5.1 0 5.1 1000
A-3 FF8 1000 5.158333 0 5.158333 1000
A-4 FG6 1000 5.258334 0 5.258334 1000
A-5 FH4 1000 5.275 0 5.275 1000
A-6 FJ0 1000 5.525 0 5.525 1000
A-7 FK7 1000 5.125 0 5.125 1000
A-8 FL5 1000 5.3 0 5.3 1000
A-9 FM3 941.561554 5.053047 42.161859 47.214906 899.399694
A-IO FN1 1000 5.1 0 5.1 1000
A-11 FP6 1000 5.175 0 5.175 1000
A-12 FQ4 1000 5.275 0 5.275 1000
A-13 FR2 1000 5.3 0 5.3 1000
A-14 FS0 1000 5.541667 0 5.541667 1000
A-15 FT8 1000 5.208333 0 5.208333 1000
A-16 FV3 973.407043 4.868702 17.589838 22.45854 955.817206
A-17 FW1 1000 5.041667 0 5.041667 1000
A-18 FX9 971.503684 4.859182 18.056827 22.916009 953.446857
A-19 FY7 1000 5.041667 0 5.041667 1000
F-IO* FU5 1000 4.166667 0 4.166667 1000
A-IO* FZ4 1000 4.166667 0 4.166667 1000
RS 1220 0 0 0 0
</TABLE>
<TABLE>
Delinquen:
<CAPTION>
90+ Days Loans Loans
30-59 60-89 excldg f/c,REO in in
Days Days & Bkrptcy REO Foreclosure
<S> <C> <C> <C> <C> <C>
Group IABala n 4,151,95 1,109,09 275,11 1,036,718
% of PooBala n 1.76231% 0.47076% 0.11677% 0.00000% 0.44004%
Number oLoan s 78 22 5 0 22
% of Loas 2.17999% 0.61487% 0.13974% 0.00000% 0.61487%
Group IIBala n 4,862,82 1,524,47 172,55 1,905,820
% of PooBala n 2.08297% 0.65300% 0.07391% 0.00000% 0.81635%
Number oLoan s 64 19 3 0 22
% of Loas 2.57131% 0.76336% 0.12053% 0.00000% 0.88389%
Group IBBala n 3,824,85 1,786,14 282,50 402,90
% of PooBala n 1.26252% 0.58957% 0.09325% 0.00000% 0.13299%
Number oLoan s 71 26 3 0 9
% of Loas 1.54482% 0.56571% 0.06527% 0.00000% 0.19582%
Group IIBala n 1,806,66 302,5 59,8 233,86
% of PooBala n 0.76684% 0.12843% 0.02541% 0.00000% 0.09926%
Number oLoan s 31 3 1 0 2
% of Loas 1.96576% 0.19023% 0.06341% 0.00000% 0.12682%
Loans in Bankrup Group IA 258,375.66
Group IIA 345,556.80
Group IB 400,272.77
Group IIB 522,018.93
########
</TABLE>
<TABLE>
General rmati on:
<CAPTION>
Group IA Group IIA Group IB Group IIB Total
<S> <C> <C> <C> <C> <C>
Beginninge Lo a 237,455,139. 236,135,626. 306,064,858. 132,568,578. 912,224,203.
Principal Reduct1,857,96 2,679,67 3,109,902 1,588,54 9,236,085
Ending ALoan B 235,597,174. 233,455,951. 302,954,955. 130,980,035. 902,988,117.
Beginninge Lo a 3607 2520 4635 1595 12357
Ending ALoan C 3578 2489 4596 1577 12240
Current oupon 10.278024% 10.363975% 9.771649% 10.066941% 10.099701%
Next Weion Ra t 10.272154% 10.364702% 9.766668% 10.072286% 10.097498%
</TABLE>
<TABLE>
Mortgageducti on Information:
<CAPTION>
Group IA Group IIA Group IB Group IIB Total
<S> <C> <C> <C> <C> <C>
Scheduled Princi365,5 109,4 552,15 68,7 1,095,912
Curtailments
Prepayments 1,418,31 2,570,21 2,557,680 1,519,79 8,066,001
Repurchases/Subs74,1 74,1
Liquidation Proceeds
Other Principal
Less: Realized Losses
Less: Denot A
Total Principal 1,857,96 2,679,67 3,109,902 1,588,54 9,236,085
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Group IA Group IIA Group IB Group IIB Total
<S> <C> <C> <C> <C> <C>
Accrued the C u 98,9 98,3 127,52 55,2 380,09
Less: Amerest
Less: Deees 16,6 14,5 17,2 7, 56,3
Collecteor Cu r 82,3 83,8 110,31 47,2 323,71
Advanced Princip13,1 5, 21,6 3, 43,8
Advanced Interes351,1 303,1 353,70 157,6 1,165,666
</TABLE>
<TABLE>
<CAPTION>
Other Subordination Interest
Prepaymet Unscheduled Increase Carry Applied Realized Loss
Principal Principal Principal Forward Realized Loss Amortization
Class ed Distributed Distributed Amount Amount Amount
<S> <C> <C> <C> <C> <C>
A-1 ,754, 5 2,009,01
A-2
A-3
A-4
A-5
A-6
A-7
A-8
A-9 ,690, 1 3,080,43
A-10
A-11
A-12
A-13
A-14
A-15
A-16 ,295, 6 2,628,72
A-17
A-18 ,325, 6 1,517,91
A-19
Total ,066, 0 9,236,08
</TABLE>
<TABLE>
<CAPTION>
Unpaid
Realized Loss
Class Amount
<S> <C>
A-1
A-2
A-3
A-4
A-5
A-6
A-7
A-8
A-9
A-10
A-11
A-12
A-13
A-14
A-15
A-16
A-17
A-18
A-19
Total
</TABLE>
<TABLE>
<CAPTION>
Prior
Has a Senior Overcolla- Supplemental Subordination Subordination
Trigger Event Enhancement Teralization Interest Increase Increase
Occurr ed Percentage Amount Amount Amount Distributed
<S> <C> <C> <C> <C> <C>
Group IA N/A 1,140,26 561,8 561,80
Group IIA N/A 922,3 486,4 486,49
Group IB N/A 1,207,44 600,3 600,34
Group IIB N/A 453,8 239,7 239,71
Total 3,723,89 1,888,34 1,888,347
</TABLE>
<TABLE>
<CAPTION>
Current Target
Overcolla- Overcolla-
teralization teralization
Amount Amount
<S> <C> <C>
Group IA 1,702,06 3,000,000
Group IIA 1,408,85 3,000,000
Group IB 1,807,78 10,075,000.
Group IIB 693,5 4,387,500
Total 5,612,23 20,462,500.
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <C> <C> <C>
Current ntere st Collected: 6,455,617.17
PrincipaColl ected: 9,118,148.43
InsurancProc eeds Received: -
Net Liqudatio n Proceeds: -
Delinquecy Ad vances on Mortgage Interest: 1,165,666.38
Delinquecy Ad vances on Mortgage Principal 43,837.47
Substituion A mounts: 74,100.00
Trust Teminat ion Proceeds: -
Investmet Ear nings on Certificate Account: 14,478.57
Sum of te Abo ve Amounts: 16,871,848.02
LESS:
ServicinFees (including PPIS): 323,717.17
Dealer Rserve : -
Trustee ees: 5,321.31
InsurancPrem iums: 101,878.80
Reimbursment of Delinquency Advances: -
Reimbursments of Servicing Advances: -
Total Reuctio ns to Available Funds Amount: 430,917.28
Total Avilabl e Funds: 16,440,930.
</TABLE>
