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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 19, 1998
Advanta Revolving Home Equity Loan Trust 1998-A
(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Delaware 333-37107 Application Pending
(State or Other Jurisdiction of Incorporation) (Commission File (I.R.S. Employer
Number) Identification No.)
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)
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Registrant's telephone number, including area code (619) 674-1800
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No Change
(Former name or former address, if changed since last report)
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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 12, 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
Prospectus; and (iii) the Prospectus Supplement for the Advanta Revolving Home
Equity Loan Trust 1998-A, 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 REVOLVING HOME EQUITY LOAN TRUST 1998-A
By: /s/ James L. Shreero
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Name: James L. Shreero
Title: Senior Vice President
Dated: June 24, 1998
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EXHIBIT INDEX
Exhibit No. Description Page No.
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 Conduit Services, Inc. (the "Registrant") and in
the Prospectus Supplement of the Registrant (the "Prospectus Supplement")
included in Form 8-K of the Registrant dated June 24, 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
June 24, 1998
