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Previous: CNY FINANCIAL CORP, S-8, 1998-12-23 |
Next: MORTGAGE PASS THROUGH CERTIFICATES SERIES 1998-13, 8-K, 1998-12-23 |
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): August 25,
1998.
THE PROVIDENT BANK
(The Provident Bank, as Seller (the "Seller"), as Document
Custodian (the "Document Custodian") and as Master Servicer (the
"Master Servicer"), and Bankers Trust Company of California, N.A.,
as Trustee.
PROVIDENT HOME EQUITY LOAN TRUST 1998-1
HOME EQUITY LOAN ASSET-BACKED CERTIFICATES, SERIES 1998-1.
(Exact name of Registrant as specified in its Charter)
OHIO
(State or Other Jurisdiction of Incorporation)
333-45369 31-0412725
(Commission File Number) (I.R.S. Employer Identification No.)
ONE EAST FOURTH STREET
CINCINNATI, OHIO 45202
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (513) 579-2000
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements
to the Certificateholders which was derived from the monthly
information submitted by the Master Servicer of the Trust to the
Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Report to Certificateholders as to distributions made on
August 25, 1998.
Monthly Report to Certificateholders as to distributions made on
September 25, 1998.
Monthly Report to Certificateholders as to distributions made on
October 26, 1998.
Monthly Report to Certificateholders as to distributions made on
November 25, 1998.
SIGNATURE
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.
Bankers Trust Company of California,
N.A., not in its individual capacity,
but solely as a duly authorized agent
of the Registrant pursuant to the
Pooling and Servicing Agreement, dated
as of March 1, 1998.
Date: December 22, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
Monthly Report to Certificateholders as to distributions
made on August 25, 1998.
Monthly Report to Certificateholders as to distributions
made on September 25, 1998.
Monthly Report to Certificateholders as to distributions
made on October 26, 1998.
Monthly Report to Certificateholders as to distributions
made on November 25, 1998.
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
1 29,191,000.00 25,393,390.74 210,910.32 1,760,079.91 1,
>970,990.23 0.00 0.00 23,633,310.83
2 20,809,000.00 20,809,000.00 172,833.67 0.00
>172,833.67 0.00 0.00 20,809,000.00
3 10,700,000.00 10,700,000.00 88,871.17 0.00
> 88,871.17 0.00 0.00 10,700,000.00
4 11,300,000.00 11,300,000.00 93,854.60 0.00
> 93,854.60 0.00 0.00 11,300,000.00
5 8,000,000.00 8,000,000.00 66,445.74 0.00
> 66,445.74 0.00 0.00 8,000,000.00
6 120,000,000.00 115,558,044.46 929,530.95 1,561,162.66 2,
>490,693.61 0.00 0.00 113,996,881.80
R1 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 200,000,000.00 191,760,435.20 1,562,446.45 3,321,242.57 4,
>883,689.02 0.00 0.00 188,439,192.63
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
1 PB9801101 869.904791 7.225183 60.295293
> 67.520477 809.609497 10.310546% 9.639846%
2 PB9801102 1,000.000000 8.305717 0.000000
> 8.305717 1,000.000000 9.966861% 9.961175%
3 PB9801103 1,000.000000 8.305717 0.000000
> 8.305717 1,000.000000 9.966861% 9.961175%
4 PB9801104 1,000.000000 8.305717 0.000000
> 8.305717 1,000.000000 9.966861% 9.961175%
5 PB9801105 1,000.000000 8.305718 0.000000
> 8.305718 1,000.000000 9.966861% 9.961175%
6 PB9801106 962.983704 7.746091 13.009689
> 20.755780 949.974015 9.652614% 9.647421%
R1 PB9801107 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: July 31, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: August 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 5
> COPYRIGHT 1998 Bankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 29,191,000.00 25,393,390.74 117,748.62 1,760,079.91 1,
>877,828.53 0.00 0.00 23,633,310.83
A2 20,809,000.00 20,809,000.00 111,848.38 0.00
>111,848.38 0.00 0.00 20,809,000.00
A3 10,700,000.00 10,700,000.00 59,295.83 0.00
> 59,295.83 0.00 0.00 10,700,000.00
A4 11,300,000.00 11,300,000.00 66,105.00 0.00
> 66,105.00 0.00 0.00 11,300,000.00
A5 8,000,000.00 8,000,000.00 43,866.67 0.00
> 43,866.67 0.00 0.00 8,000,000.00
A6 120,000,000.00 115,558,044.46 547,010.86 1,561,162.66 2,
>108,173.52 0.00 0.00 113,996,881.80
X1 0.00 0.00 234,051.00 0.00
>234,051.00 0.00 0.00 0.00
X2 0.00 0.00 382,520.10 0.00
>382,520.10 0.00 0.00 0.00
R2 0.00 0.00 1,022.60 0.00
> 1,022.60 0.00 0.00 0.00
TOTALS 200,000,000.00 191,760,435.20 1,563,469.06 3,321,242.57 4,
>884,711.63 0.00 0.00 188,439,192.63
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844BA9 869.904791 4.033730 60.295293
> 64.329024 809.609497 5.756250% 5.748440%
A2 743844BB7 1,000.000000 5.375000 0.000000
> 5.375000 1,000.000000 6.450000% 6.450000%
A3 743844BC5 1,000.000000 5.541666 0.000000
> 5.541666 1,000.000000 6.650000% 6.650000%
A4 743844BD3 1,000.000000 5.850000 0.000000
> 5.850000 1,000.000000 7.020000% 7.020000%
A5 743844BE1 1,000.000000 5.483334 0.000000
> 5.483334 1,000.000000 6.580000% 6.580000%
A6 743844BF8 962.983704 4.558424 13.009689
> 17.568113 949.974015 5.876250% 5.868440%
X1 PB9801201 0.000000 1.170255 0.000000
> 1.170255 0.000000 3.685727% 3.543827%
X2 PB9801202 0.000000 1.912601 0.000000
> 1.912601 0.000000 3.972239% 3.583367%
R2 PB9801203 0.000000 0.005113 0.000000
> 0.005113 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: July 31, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: August 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 5
> COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1998
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 847,496.53522,305.43 374,862.46 274,507.52 0.00 703,078.29
>
> PERCENTAGE OF POOL BALA
>NCE 1.1367% 0.7006% 0.5028% 0.3682% 0.0000% 0.9430%
>
> NUMBER OF LOANS
> 18 7 7 6 0 10
>
> PERCENTAGE OF LOANS
> 1.4286% 0.5556% 0.5556% 0.4762% 0.0000% 0.7937%
>
> GROUP 2 PRINCIPA
>L BALANCE 1,683,002.661,798.411,749,980.121,673,452.73 0.00 629,998.20
>
> PERCENTAGE OF POOL BALA
>NCE 1.4762% 0.5805% 1.5350% 1.4679% 0.0000% 0.5526%
>
> NUMBER OF LOANS
> 13 8 17 14 0 9
>
> PERCENTAGE OF LOANS
> 1.0252% 0.6309% 1.3407% 1.1041% 0.0000% 0.7098%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures,Bankruptcies, & REOs are Included in the Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 0.00 0.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 4 3
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 180,192.50 178,210.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.636861% 10.322614%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 222 354
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,283 1,287
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,260 1,268
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 76,314,439.47
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 74,554,359.56
>
> POOL FACTOR OF LOAN GRO
>UPS 119.194055% 60.773645%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 23 19
>
> SCHEDULE
> PRINCIPAL RECEIVED 96,767.43 69,274.76
>
> PREPAYME
>NTS IN FULL 1,663,313.081,491,888.3
>
> CURTAILM
>ENTS (0.60) (0.48)
>
> NET LIQU
>IDATIONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 1,760,079.911,561,162.6
>
> SERVICER ADVANCES:
> 109,563.00 191,439.31
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-6 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 1,107,649.3
>
>
> Page 3 of 5 COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 676,455.05 994,131.88
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 31,797.68 48,153.11
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 31,797.68 48,153.11
>
> LESS: COMPENSATING IN
>TEREST (894.67) (561.00)
>
> LESS: DELINQUENT SER
>VICE FEES: (5,041.44) (9,479.50)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 25,861.57 38,112.61
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 10,160.32 15,407.74
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.16243849 0.08213445
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,760,079.911,561,162.6
>
> TOTAL INTEREST COLLECTE
>D 644,657.37 945,978.76
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,404,737.282,507,141.4
>
> BASE SPREAD ACCOUNT REQ
>UIREMENT 6,400,000.00
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 6,400,000.00
>
> SPREAD ACCOUNT BALANCE
>ENDING 6,400,000.00
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CURRENT NET LOSSES
> 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
>
> Page 4 of 5 COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 676,455.05 994,131.88
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (894.67) (561.00)
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,760,079.911,561,162.6
>
> TOTAL INTEREST COLLECTE
>D 644,657.37 945,978.76
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,404,737.282,507,141.4
>
> O/C AMOUNT
> 112,048.73 9,417.48
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
>
> Page 5 of 5 COPYRIGHT 1998 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
1 29,191,000.00 23,633,310.83 196,179.62 1,314,815.80 1,
>510,995.42 0.00 0.00 22,318,495.03
2 20,809,000.00 20,809,000.00 172,735.07 0.00
>172,735.07 0.00 0.00 20,809,000.00
3 10,700,000.00 10,700,000.00 88,820.47 0.00
> 88,820.47 0.00 0.00 10,700,000.00
4 11,300,000.00 11,300,000.00 93,801.06 0.00
> 93,801.06 0.00 0.00 11,300,000.00
5 8,000,000.00 8,000,000.00 66,407.83 0.00
> 66,407.83 0.00 0.00 8,000,000.00
6 120,000,000.00 113,996,881.80 919,371.35 2,046,985.07 2,
>966,356.42 0.00 0.00 111,949,896.73
R1 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 200,000,000.00 188,439,192.63 1,537,315.40 3,361,800.87 4,
>899,116.27 0.00 0.00 185,077,391.76
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
1 PB9801101 809.609497 6.720552 45.041821
> 51.762373 764.567676 9.639846% 9.631801%
2 PB9801102 1,000.000000 8.300979 0.000000
> 8.300979 1,000.000000 9.961175% 9.952861%
3 PB9801103 1,000.000000 8.300979 0.000000
> 8.300979 1,000.000000 9.961175% 9.952861%
4 PB9801104 1,000.000000 8.300979 0.000000
> 8.300979 1,000.000000 9.961175% 9.952861%
5 PB9801105 1,000.000000 8.300979 0.000000
> 8.300979 1,000.000000 9.961175% 9.952861%
6 PB9801106 949.974015 7.661428 17.058209
> 24.719637 932.915806 9.677858% 9.670882%
R1 PB9801107 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: August 31, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: September 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 5
> COPYRIGHT 1998 Bankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 29,191,000.00 23,633,310.83 116,985.97 1,314,815.80 1,
>431,801.77 0.00 0.00 22,318,495.03
A2 20,809,000.00 20,809,000.00 111,848.38 0.00
>111,848.38 0.00 0.00 20,809,000.00
A3 10,700,000.00 10,700,000.00 59,295.83 0.00
> 59,295.83 0.00 0.00 10,700,000.00
A4 11,300,000.00 11,300,000.00 66,105.00 0.00
> 66,105.00 0.00 0.00 11,300,000.00
A5 8,000,000.00 8,000,000.00 43,866.67 0.00
> 43,866.67 0.00 0.00 8,000,000.00
A6 120,000,000.00 113,996,881.80 576,069.44 2,046,985.07 2,
>623,054.51 0.00 0.00 111,949,896.73
X1 0.00 0.00 219,842.20 0.00
>219,842.20 0.00 0.00 0.00
X2 0.00 0.00 343,301.92 0.00
>343,301.92 0.00 0.00 0.00
R2 0.00 0.00 1,022.25 0.00
> 1,022.25 0.00 0.00 0.00
TOTALS 200,000,000.00 188,439,192.63 1,538,337.66 3,361,800.87 4,
>900,138.53 0.00 0.00 185,077,391.76
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844BA9 809.609497 4.007604 45.041821
> 49.049425 764.567676 5.748440% 5.693750%
A2 743844BB7 1,000.000000 5.375000 0.000000
> 5.375000 1,000.000000 6.450000% 6.450000%
A3 743844BC5 1,000.000000 5.541666 0.000000
> 5.541666 1,000.000000 6.650000% 6.650000%
A4 743844BD3 1,000.000000 5.850000 0.000000
> 5.850000 1,000.000000 7.020000% 7.020000%
A5 743844BE1 1,000.000000 5.483334 0.000000
> 5.483334 1,000.000000 6.580000% 6.580000%
A6 743844BF8 949.974015 4.800579 17.058209
> 21.858788 932.915806 5.868440% 5.813750%
X1 PB9801201 0.000000 1.099211 0.000000
> 1.099211 0.000000 3.543827% 3.544179%
X2 PB9801202 0.000000 1.716510 0.000000
> 1.716510 0.000000 3.613803% 3.663341%
R2 PB9801203 0.000000 0.005111 0.000000
> 0.005111 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: August 31, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: September 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 5
> COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1998
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 1,618,767.147,621.53 833,184.42 496,950.12 0.00 514,757.32
>
> PERCENTAGE OF POOL BALA
>NCE 2.2102% 0.2016% 1.1376% 0.6785% 0.0000% 0.7028%
>
> NUMBER OF LOANS
> 25 3 11 9 0 8
>
> PERCENTAGE OF LOANS
> 2.0194% 0.2423% 0.8885% 0.7270% 0.0000% 0.6462%
>
> GROUP 2 PRINCIPA
>L BALANCE 1,680,655.767,381.892,411,748.791,980,118.49 0.00 624,218.37
>
> PERCENTAGE OF POOL BALA
>NCE 1.5011% 0.6854% 2.1541% 1.7686% 0.0000% 0.5575%
>
> NUMBER OF LOANS
> 19 5 25 19 0 10
>
> PERCENTAGE OF LOANS
> 1.5273% 0.4019% 2.0096% 1.5273% 0.0000% 0.8039%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures,Bankruptcies, & REOs are Included in the Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 0.00 0.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 4 6
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 191,326.92 350,904.93
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.631175% 10.347858%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 221 353
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,260 1,268
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,238 1,244
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 74,554,359.56
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 73,239,543.76
>
> POOL FACTOR OF LOAN GRO
>UPS 117.091988% 59.682453%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 22 24
>
> SCHEDULE
> PRINCIPAL RECEIVED 96,569.45 58,741.87
>
> PREPAYME
>NTS IN FULL 1,218,246.471,988,244.2
>
> CURTAILM
>ENTS (0.12) (1.06)
>
> LIQUIDAT
>IONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 1,314,815.802,046,985.0
>
> SERVICER ADVANCES:
> 116,011.75 216,077.35
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-6 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 2,043,323.4
>
>
> Page 3 of 5 COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 660,500.34 983,100.83
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 31,064.32 47,502.62
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 31,064.32 47,502.62
>
> LESS: COMPENSATING IN
>TEREST (300.68) (104.96)
>
> LESS: DELINQUENT SER
>VICE FEES: (5,364.29)(10,578.45)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 25,399.35 36,819.21
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 9,925.64 15,199.58
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.15868653 0.08102481
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,314,815.802,046,985.0
>
> TOTAL INTEREST COLLECTE
>D 629,436.02 935,598.20
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,944,251.822,982,583.2
>
> BASE SPREAD ACCOUNT REQ
>UIREMENT 6,400,000.00
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 6,400,000.00
>
> SPREAD ACCOUNT BALANCE
>ENDING 6,400,000.00
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CURRENT NET LOSSES
> 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
>
> Page 4 of 5 COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 660,500.34 983,100.83
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (300.68) (104.96)
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,314,815.802,046,985.0
>
> TOTAL INTEREST COLLECTE
>D 629,436.02 935,598.20
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,944,251.822,982,583.2
>
> O/C AMOUNT
> 112,048.73 9,417.48
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
>
> Page 5 of 5 COPYRIGHT 1998 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
1 29,191,000.00 22,318,495.03 185,110.73 1,407,807.65 1,
>592,918.38 0.00 0.00 20,910,687.38
2 20,809,000.00 20,809,000.00 172,590.90 0.00
>172,590.90 0.00 0.00 20,809,000.00
3 10,700,000.00 10,700,000.00 88,746.34 0.00
> 88,746.34 0.00 0.00 10,700,000.00
4 11,300,000.00 11,300,000.00 93,722.77 0.00
> 93,722.77 0.00 0.00 11,300,000.00
5 8,000,000.00 8,000,000.00 66,352.41 0.00
> 66,352.41 0.00 0.00 8,000,000.00
6 120,000,000.00 111,949,896.73 903,977.23 2,590,262.19 3,
>494,239.42 0.00 0.00 109,359,634.54
R1 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 200,000,000.00 185,077,391.76 1,510,500.38 3,998,069.84 5,
>508,570.22 0.00 0.00 181,079,321.92
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
1 PB9801101 764.567676 6.341363 48.227455
> 54.568818 716.340221 9.631801% 9.949455%
2 PB9801102 1,000.000000 8.294051 0.000000
> 8.294051 1,000.000000 9.952861% 9.949455%
3 PB9801103 1,000.000000 8.294050 0.000000
> 8.294050 1,000.000000 9.952861% 9.949455%
4 PB9801104 1,000.000000 8.294050 0.000000
> 8.294050 1,000.000000 9.952861% 9.949455%
5 PB9801105 1,000.000000 8.294051 0.000000
> 8.294051 1,000.000000 9.952861% 9.949455%
6 PB9801106 932.915806 7.533144 21.585518
> 29.118662 911.330288 9.689805% 9.693937%
R1 PB9801107 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 5
> COPYRIGHT 1998 Bankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 29,191,000.00 22,318,495.03 109,426.50 1,407,807.65 1,
>517,234.15 0.00 0.00 20,910,687.38
A2 20,809,000.00 20,809,000.00 111,848.38 0.00
>111,848.38 0.00 0.00 20,809,000.00
A3 10,700,000.00 10,700,000.00 59,295.83 0.00
> 59,295.83 0.00 0.00 10,700,000.00
A4 11,300,000.00 11,300,000.00 66,105.00 0.00
> 66,105.00 0.00 0.00 11,300,000.00
A5 8,000,000.00 8,000,000.00 43,866.67 0.00
> 43,866.67 0.00 0.00 8,000,000.00
A6 120,000,000.00 111,949,896.73 560,453.06 2,590,262.19 3,
>150,715.25 0.00 0.00 109,359,634.54
X1 0.00 0.00 215,980.77 0.00
>215,980.77 0.00 0.00 0.00
X2 0.00 0.00 343,524.18 0.00
>343,524.18 0.00 0.00 0.00
R2 0.00 0.00 1,021.57 0.00
> 1,021.57 0.00 0.00 0.00
TOTALS 200,000,000.00 185,077,391.76 1,511,521.96 3,998,069.84 5,
>509,591.80 0.00 0.00 181,079,321.92
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844BA9 764.567676 3.748638 48.227455
> 51.976094 716.340221 5.693750% 5.319380%
A2 743844BB7 1,000.000000 5.375000 0.000000
> 5.375000 1,000.000000 6.450000% 6.450000%
A3 743844BC5 1,000.000000 5.541666 0.000000
> 5.541666 1,000.000000 6.650000% 6.650000%
A4 743844BD3 1,000.000000 5.850000 0.000000
> 5.850000 1,000.000000 7.020000% 7.020000%
A5 743844BE1 1,000.000000 5.483334 0.000000
> 5.483334 1,000.000000 6.580000% 6.580000%
A6 743844BF8 932.915806 4.670442 21.585518
> 26.255960 911.330288 5.813750% 5.439380%
X1 PB9801201 0.000000 1.079904 0.000000
> 1.079904 0.000000 3.544179% 3.694953%
X2 PB9801202 0.000000 1.717621 0.000000
> 1.717621 0.000000 3.682263% 4.254557%
R2 PB9801203 0.000000 0.005108 0.000000
> 0.005108 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 5
> COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 1,304,201.486,095.94 929,279.32 792,836.70 38,392.99 860,788.93
>
> PERCENTAGE OF POOL BALA
>NCE 1.8156% 0.6767% 1.2937% 1.1037% 0.0534% 1.1983%
>
> NUMBER OF LOANS
> 22 10 13 17 1 13
>
> PERCENTAGE OF LOANS
> 1.8048% 0.8203% 1.0664% 1.3946% 0.0820% 1.0664%
>
> GROUP 2 PRINCIPA
>L BALANCE 1,753,270.736,606.953,074,323.832,345,589.67 0.00 702,331.97
>
> PERCENTAGE OF POOL BALA
>NCE 1.6031% 0.6735% 2.8110% 2.1447% 0.0000% 0.6422%
>
> NUMBER OF LOANS
> 22 7 28 25 0 11
>
> PERCENTAGE OF LOANS
> 1.8062% 0.5747% 2.2989% 2.0525% 0.0000% 0.9031%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures,Bankruptcies, & REOs are Included in the Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 42,197.43 0.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 7 7
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 340,288.49 429,524.37
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.622861% 10.359805%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 221 352
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,238 1,244
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,219 1,218
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 73,239,543.76
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 71,831,736.11
>
> POOL FACTOR OF LOAN GRO
>UPS 114.841251% 58.301655%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 19 26
>
> SCHEDULE
> PRINCIPAL RECEIVED 91,919.76 77,729.05
>
> PREPAYME
>NTS IN FULL 1,315,712.792,512,171.1
>
> CURTAILM
>ENTS 175.10 362.03
>
> LIQUIDAT
>IONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 1,407,807.652,590,262.1
>
> SERVICER ADVANCES:
> 126,882.46 219,440.55
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-6 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 3,124,459.6
>
>
> Page 3 of 5 COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 648,344.56 966,563.90
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 30,516.48 46,649.71
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 30,516.48 46,649.71
>
> LESS: COMPENSATING IN
>TEREST (896.31) (989.03)
>
> LESS: DELINQUENT SER
>VICE FEES: (5,924.84)(10,791.77)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 23,695.33 34,868.91
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 9,750.33 14,926.65
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.15588376 0.07956990
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,407,807.652,590,262.1
>
> TOTAL INTEREST COLLECTE
>D 617,828.08 919,914.18
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,025,635.733,510,176.3
>
> BASE SPREAD ACCOUNT REQ
>UIREMENT 6,400,000.00
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 6,400,000.00
>
> SPREAD ACCOUNT BALANCE
>ENDING 6,400,000.00
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CURRENT NET LOSSES
> 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
>
> Page 4 of 5 COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 648,344.56 966,563.90
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (896.31) (989.03)
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,407,807.652,590,262.1
>
> TOTAL INTEREST COLLECTE
>D 617,828.08 919,914.18
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,025,635.733,510,176.3
>
> O/C AMOUNT
> 112,048.73 9,417.48
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
>
> Page 5 of 5 COPYRIGHT 1998 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
1 29,191,000.00 20,910,687.38 173,374.95 1,985,942.42 2,
>159,317.37 0.00 0.00 18,924,744.96
2 20,809,000.00 20,809,000.00 172,531.85 0.00
>172,531.85 0.00 0.00 20,809,000.00
3 10,700,000.00 10,700,000.00 88,715.97 0.00
> 88,715.97 0.00 0.00 10,700,000.00
4 11,300,000.00 11,300,000.00 93,690.70 0.00
> 93,690.70 0.00 0.00 11,300,000.00
5 8,000,000.00 8,000,000.00 66,329.70 0.00
> 66,329.70 0.00 0.00 8,000,000.00
6 120,000,000.00 109,359,634.54 884,519.34 3,040,180.41 3,
>924,699.75 0.00 0.00 106,319,454.13
R1 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 200,000,000.00 181,079,321.92 1,479,162.51 5,026,122.83 6,
>505,285.34 0.00 0.00 176,053,199.09
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
1 PB9801101 716.340221 5.939329 68.032696
> 73.972025 648.307525 9.949455% 9.047917%
2 PB9801102 1,000.000000 8.291213 0.000000
> 8.291213 1,000.000000 9.949455% 9.952709%
3 PB9801103 1,000.000000 8.291212 0.000000
> 8.291212 1,000.000000 9.949455% 9.952709%
4 PB9801104 1,000.000000 8.291212 0.000000
> 8.291212 1,000.000000 9.949455% 9.952709%
5 PB9801105 1,000.000000 8.291213 0.000000
> 8.291213 1,000.000000 9.949455% 9.952709%
6 PB9801106 911.330288 7.370995 25.334837
> 32.705831 885.995451 9.705804% 9.711732%
R1 PB9801107 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 5
> COPYRIGHT 1998 Bankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 29,191,000.00 20,910,687.38 92,693.24 1,985,942.42 2,
>078,635.66 0.00 0.00 18,924,744.96
A2 20,809,000.00 20,809,000.00 111,848.38 0.00
>111,848.38 0.00 0.00 20,809,000.00
A3 10,700,000.00 10,700,000.00 59,295.83 0.00
> 59,295.83 0.00 0.00 10,700,000.00
A4 11,300,000.00 11,300,000.00 66,105.00 0.00
> 66,105.00 0.00 0.00 11,300,000.00
A5 8,000,000.00 8,000,000.00 43,866.67 0.00
> 43,866.67 0.00 0.00 8,000,000.00
A6 120,000,000.00 109,359,634.54 495,707.17 3,040,180.41 3,
>535,887.58 0.00 0.00 106,319,454.13
X1 0.00 0.00 220,834.05 0.00
>220,834.05 0.00 0.00 0.00
X2 0.00 0.00 388,812.18 0.00
>388,812.18 0.00 0.00 0.00
R2 0.00 0.00 943.95 0.00
> 943.95 0.00 0.00 0.00
TOTALS 200,000,000.00 181,079,321.92 1,480,106.47 5,026,122.83 6,
>506,229.30 0.00 0.00 176,053,199.09
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844BA9 716.340221 3.175405 68.032696
> 71.208100 648.307525 5.319380% 5.142340%
A2 743844BB7 1,000.000000 5.375000 0.000000
> 5.375000 1,000.000000 6.450000% 6.450000%
A3 743844BC5 1,000.000000 5.541666 0.000000
> 5.541666 1,000.000000 6.650000% 6.650000%
A4 743844BD3 1,000.000000 5.850000 0.000000
> 5.850000 1,000.000000 7.020000% 7.020000%
A5 743844BE1 1,000.000000 5.483334 0.000000
> 5.483334 1,000.000000 6.580000% 6.580000%
A6 743844BF8 911.330288 4.130893 25.334837
> 29.465730 885.995451 5.439380% 5.262340%
X1 PB9801201 0.000000 1.104170 0.000000
> 1.104170 0.000000 3.694953% 3.580066%
X2 PB9801202 0.000000 1.944061 0.000000
> 1.944061 0.000000 4.266424% 3.923158%
R2 PB9801203 0.000000 0.004720 0.000000
> 0.004720 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 5
> COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 1,483,507.475,211.771,206,701.15 638,668.83 38,392.99 1,082,256.0
>
> PERCENTAGE OF POOL BALA
>NCE 2.1240% 0.6804% 1.7277% 0.9144% 0.0550% 1.5495%
>
> NUMBER OF LOANS
> 26 9 21 17 1 15
>
> PERCENTAGE OF LOANS
> 2.1757% 0.7531% 1.7573% 1.4226% 0.0837% 1.2552%
>
> GROUP 2 PRINCIPA
>L BALANCE 2,790,154.1,519,224.3,607,173.773,747,925.67 293,139.59 895,968.18
>
> PERCENTAGE OF POOL BALA
>NCE 2.6241% 1.4288% 3.3925% 3.5248% 0.2757% 0.8426%
>
> NUMBER OF LOANS
> 27 14 34 33 1 13
>
> PERCENTAGE OF LOANS
> 2.2727% 1.1785% 2.8620% 2.7778% 0.0842% 1.0943%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures,Bankruptcies, & REOs are Included in the Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 42,197.43 313,968.32
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 7 8
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 340,012.66 590,069.37
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.619455% 10.375804%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 221 351
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,219 1,218
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,195 1,188
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 71,831,736.11
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 69,845,793.69
>
> POOL FACTOR OF LOAN GRO
>UPS 111.666218% 56.681018%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 24 30
>
> SCHEDULE
> PRINCIPAL RECEIVED 111,260.56 107,421.83
>
> PREPAYME
>NTS IN FULL 1,874,857.802,729,395.5
>
> CURTAILM
>ENTS (175.94) (363.93)
>
> LIQUIDAT
>IONS 0.00 203,726.95
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 1,985,942.423,040,180.4
>
> SERVICER ADVANCES:
> 124,807.07 235,272.39
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-6 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 4,020,803.7
>
>
> Page 3 of 5 COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 635,678.24 943,974.07
>
> LIQUIDATION INTEREST
> 0.00 1,685.84
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 29,929.89 45,570.44
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 29,929.89 45,570.44
>
> LESS: COMPENSATING IN
>TEREST (1,606.65) (1,379.22)
>
> LESS: DELINQUENT SER
>VICE FEES: (5,807.38)(11,563.76)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 22,515.86 32,627.46
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 9,562.62 14,581.28
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.15288274 0.07772882
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,985,942.423,020,368.3
>
> TOTAL INTEREST COLLECTE
>D 605,748.34 900,089.47
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,591,690.763,920,457.8
>
> BASE SPREAD ACCOUNT REQ
>UIREMENT 6,400,000.00
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 6,400,000.00
>
> SPREAD ACCOUNT BALANCE
>ENDING 6,400,000.00
>
> NET LIQUIDATION PROCEED
>S 0.00 183,914.88
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CURRENT NET LOSSES
> 0.00 19,812.07
>
> CUMULATIVE NET LOSSES
> 0.00 19,812.07
>
>
> Page 4 of 5 COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 635,678.24 943,974.07
>
> LIQUIDATION INTEREST
> 0.00 1,685.84
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (1,606.65) (1,379.22)
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,985,942.423,020,368.3
>
> TOTAL INTEREST COLLECTE
>D 605,748.34 900,089.47
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,591,690.763,920,457.8
>
> O/C AMOUNT
> 112,048.73 9,417.48
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
>
> Page 5 of 5 COPYRIGHT 1998 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
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