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Previous: AVIATION GENERAL INC, S-3, 1999-01-12 |
Next: NORWEST INTEGRATED STRUCT ASSETS INC PASS THRU SER 1998-1 TR, 8-K, 1999-01-12 |
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): December 28, 1998
OCWEN MORTGAGE LOAN
Asset Backed Certificates, Series 1998-2 Trust
New York (governing law of 333-39649-08 52-2112096 52-6934307
Pooling and Servicing Agreement) (Commission 52-2112098
(State or other File Number) 52-2112099
jurisdiction 52-2112101
IRS EIN
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 December 28, 1998 a distribution was made to holders of OCWEN MORTGAGE
LOAN, Asset Backed Certificates, Series 1998-2 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 Asset Backed Certificates, Series 1998-2
Trust, relating to the December 28, 1998
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.
OCWEN MORTGAGE LOAN
Asset Backed Certificates, Series 1998-2 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice president
By: Sherri J. Sharps, Vice president
Date: 1/8/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Certificates, Series 1998-2 Trust, relating to the December 28,
1998 distribution.
<TABLE>
<CAPTION>
OCWEN MORTGAGE LOAN ASSET BACKED CERTIFICATES
Mortgage Pass-Through Certificates
Record Date: 11/30/98
Distribution Date: 12/28/98
OCW Series: 1998-2
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 67574TAG6 SEQ 5.10234% 34,170,474.67 159,820.26 5,303,574.99
A-2 67574TAH4 SEQ 6.26000% 10,933,000.00 57,033.82 0.00
A-3 67574TAJ0 SEQ 6.32000% 11,789,000.00 62,088.73 0.00
A-4 67574TAK7 SEQ 6.54000% 28,209,000.00 153,739.05 0.00
A-5 67574TAL5 SEQ 5.10234% 52,522,904.38 245,657.24 9,163,802.50
A-6 67574TAM3 SEQ 5.28234% 173,001,000.00 837,695.93 0.00
R-I OCW982OR1 SUB 0.00000% 0.00 0.00 0.00
R-II OCW982OR2 SUB 0.00000% 0.00 0.00 0.00
R-III OCW982OR3 SUB 0.00000% 0.00 0.00 0.00
R-IV OCW982OR4 SUB 0.00000% 0.00 0.00 0.00
X-1 OCW982OX1 RES 0.00000% 0.00 0.00 0.00
X-2 OCW982OX2 RES 0.00000% 0.00 0.00 0.00
X RES 0.00000% 0.00 0.00 0.00
OC1 OCW982OC1 SUB 0.00000% 2,417,923.20 0.00 0.00
OC2 OCW982OC2 SUB 0.00000% 4,450,566.81 0.00 0.00
Totals 317,493,869.06 1,516,035.03 14,467,377.49
</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 28,866,899.68 5,463,395.25 0.00
A-2 0.00 10,933,000.00 57,033.82 0.00
A-3 0.00 11,789,000.00 62,088.73 0.00
A-4 0.00 28,209,000.00 153,739.05 0.00
A-5 0.00 43,359,101.88 9,409,459.74 0.00
A-6 0.00 173,001,000.00 837,695.93 0.00
R-I 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00
X-1 0.00 0.00 0.00 0.00
X-2 0.00 0.00 0.00 0.00
X 0.00 0.00 0.00 0.00
OC1 0.00 2,857,146.48 0.00 0.00
OC2 0.00 5,250,314.41 0.00 0.00
Totals 0.00 304,265,462.45 15,983,412.52 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
Edward M. Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
</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 54,897,000.00 34,170,474.67 0.00 5,303,574.99 0.00 0.00
A-2 10,933,000.00 10,933,000.00 0.00 0.00 0.00 0.00
A-3 11,789,000.00 11,789,000.00 0.00 0.00 0.00 0.00
A-4 28,209,000.00 28,209,000.00 0.00 0.00 0.00 0.00
A-5 103,886,000.00 52,522,904.38 0.00 9,163,802.50 0.00 0.00
A-6 173,001,000.00 173,001,000.00 0.00 0.00 0.00 0.00
R-I 0.00 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00 0.00 0.00
X-1 0.00 0.00 0.00 0.00 0.00 0.00
X-2 0.00 0.00 0.00 0.00 0.00 0.00
X 0.00 0.00 0.00 0.00 0.00 0.00
OC1 682.20 2,417,923.20 0.00 0.00 0.00 0.00
OC2 293.83 4,450,566.81 0.00 0.00 0.00 0.00
Totals 382,715,976.03 317,493,869.06 0.00 14,467,377.49 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 5,303,574.99 28,866,899.68 0.52583747 5,303,574.99
A-2 0.00 10,933,000.00 1.00000000 0.00
A-3 0.00 11,789,000.00 1.00000000 0.00
A-4 0.00 28,209,000.00 1.00000000 0.00
A-5 9,163,802.50 43,359,101.88 0.41737195 9,163,802.50
A-6 0.00 173,001,000.00 1.00000000 0.00
R-I 0.00 0.00 0.00000000 0.00
R-II 0.00 0.00 0.00000000 0.00
R-III 0.00 0.00 0.00000000 0.00
R-IV 0.00 0.00 0.00000000 0.00
X-1 0.00 0.00 0.00000000 0.00
X-2 0.00 0.00 0.00000000 0.00
X 0.00 0.00 0.00000000 0.00
OC1 0.00 2,857,146.48 4,188.13614776 0.00
OC2 0.00 5,250,314.41 17,868.54443045 0.00
Totals 14,467,377.49 304,265,462.45 0.79501636 14,467,377.49
</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 54,897,000.00 622.44703117 0.00000000 96.60955954 0.00000000
A-2 10,933,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 11,789,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4 28,209,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5 103,886,000.00 505.58212252 0.00000000 88.21017750 0.00000000
A-6 173,001,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00 0.00000000 0.00000000 0.00000000 0.00000000
X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
X 0.00 0.00000000 0.00000000 0.00000000 0.00000000
OC1 682.20 3544302.55057168 0.00000000 0.00000000 0.00000000
OC2 293.83 15146740.6663717 0.00000000 0.00000000 0.00000000
<FN>
All denominations are Per $1000
</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 96.60955954 525.83747163 0.52583747 96.60955954
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 88.21017750 417.37194502 0.41737195 88.21017750
A-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC1 0.00000000 0.00000000 4,188,136.1477572 4188.13614776 0.00000000
OC2 0.00000000 0.00000000 17,868,544.430452 17868.54443045 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 54,897,000.00 5.10234% 34,170,474.67 159,820.26 0.00 0.00
A-2 10,933,000.00 6.26000% 10,933,000.00 57,033.82 0.00 0.00
A-3 11,789,000.00 6.32000% 11,789,000.00 62,088.73 0.00 0.00
A-4 28,209,000.00 6.54000% 28,209,000.00 153,739.05 0.00 0.00
A-5 103,886,000.00 5.10234% 52,522,904.38 245,657.24 0.00 0.00
A-6 173,001,000.00 5.28234% 173,001,000.00 837,695.93 0.00 0.00
R-I 0.00 0.00000% 0.00 0.00 0.00 0.00
R-II 0.00 0.00000% 0.00 0.00 0.00 0.00
R-III 0.00 0.00000% 0.00 0.00 0.00 0.00
R-IV 0.00 0.00000% 0.00 0.00 0.00 0.00
X-1 0.00 0.00000% 118,392,397.87 0.00 0.00 0.00
X-2 0.00 0.00000% 199,101,471.19 0.00 0.00 0.00
X 0.00 0.00000% 317,493,869.06 0.00 0.00 0.00
OC1 682.20 0.00000% 2,417,923.20 0.00 0.00 0.00
OC2 293.83 0.00000% 4,450,566.81 0.00 0.00 0.00
Totals 382,715,976.03 1,516,035.03 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 0.00 159,820.26 0.00 28,866,899.68
A-2 0.00 0.00 57,033.82 0.00 10,933,000.00
A-3 0.00 0.00 62,088.73 0.00 11,789,000.00
A-4 0.00 0.00 153,739.05 0.00 28,209,000.00
A-5 0.00 0.00 245,657.24 0.00 43,359,101.88
A-6 0.00 0.00 837,695.93 0.00 173,001,000.00
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00 0.00
X-1 0.00 0.00 0.00 0.00 113,528,046.16
X-2 0.00 0.00 0.00 0.00 190,737,416.29
X 0.00 0.00 0.00 0.00 304,265,462.45
OC1 0.00 0.00 0.00 0.00 2,857,146.48
OC2 0.00 0.00 0.00 0.00 5,250,314.41
Totals 0.00 0.00 1,516,035.03 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 54,897,000.00 5.10234% 622.44703117 2.91127493 0.00000000 0.00000000
A-2 10,933,000.00 6.26000% 1000.00000000 5.21666697 0.00000000 0.00000000
A-3 11,789,000.00 6.32000% 1000.00000000 5.26666638 0.00000000 0.00000000
A-4 28,209,000.00 6.54000% 1000.00000000 5.45000000 0.00000000 0.00000000
A-5 103,886,000.00 5.10234% 505.58212252 2.36468090 0.00000000 0.00000000
A-6 173,001,000.00 5.28234% 1000.00000000 4.84214502 0.00000000 0.00000000
R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
X-1 0.00 0.00000% 866.06826483 0.00000000 0.00000000 0.00000000
X-2 0.00 0.00000% 809.30951568 0.00000000 0.00000000 0.00000000
X 0.00 0.00000% 829.58302930 0.00000000 0.00000000 0.00000000
OC1 682.20 0.00000% 3544302.55057168 0.00000000 0.00000000 0.00000000
OC2 293.83 0.00000% 15146740.66637172 0.00000000 0.00000000 0.00000000
<FN>
All denominations are Per $1000
</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 2.91127493 0.00000000 525.83747163
A-2 0.00000000 0.00000000 5.21666697 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.26666638 0.00000000 1000.00000000
A-4 0.00000000 0.00000000 5.45000000 0.00000000 1000.00000000
A-5 0.00000000 0.00000000 2.36468090 0.00000000 417.37194502
A-6 0.00000000 0.00000000 4.84214502 0.00000000 1000.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-1 0.00000000 0.00000000 0.00000000 0.00000000 830.48438680
X-2 0.00000000 0.00000000 0.00000000 0.00000000 775.31122737
X 0.00000000 0.00000000 0.00000000 0.00000000 795.01838823
OC1 0.00000000 0.00000000 0.00000000 0.00000000 4188136.14775726
OC2 0.00000000 0.00000000 0.00000000 0.00000000 17868544.43045298
<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 Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Rate Balance Balance Balance Balance Percentage
Class
<S> <C> <C> <C> <C> <C> <C>
A-6 SEQ 5.28234% 0.00 0.00 30,873,000.00 30,873,000.00 100.00000000%
A-6 SEQ 5.28234% 0.00 0.00 142,128,000.00 142,128,000.00 100.00000000%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 16,166,738.69
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 16,166,738.69
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 183,326.17
Payment of Interest and Principal 15,983,412.52
Total Withdrawals (Pool Distribution Amount) 16,166,738.69
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 132,289.12
Pool Insurance Fee 41,416.72
Special Servicing Fee 7,636.00
Trustee Fee 1,984.33
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 183,326.17
</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
Reserve Fund 10,000.00 0.00 0.00 10,000.00
Reserve Fund 10,000.00 0.00 0.00 10,000.00
</TABLE>
<TABLE>
<CAPTION>
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 72 5,083,552.62 1.949634% 1.670762%
60 Days 32 3,261,714.90 0.866504% 1.071996%
90+ Days 14 1,375,941.91 0.379096% 0.452218%
Foreclosure 121 13,868,586.65 3.276469% 4.558055%
REO 7 903,947.20 0.189548% 0.297092%
Totals 246 24,493,743.28 6.661251% 8.050123%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 250,507.85
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 100,000.00 0.02612904% 0.00 0.00000000%
Fraud 8,781,479.28 2.29451599% 0.00 0.00000000%
Special Hazard 3,827,159.75 1.00000000% 0.00 0.00000000%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed Mixed & ARM & Balloon
Weighted Average Gross Coupon 10.825843%
Weighted Average Net Coupon 10.325843%
Weighted Average Pass-Through Rate 10.318344%
Weighted Average Maturity(Stepdown Calculation ) 346
Begin Scheduled Collateral Loan Count 3,817
Number Of Loans Paid In Full 124
End Scheduled Collateral Loan Count 3,693
Begining Scheduled Collateral Balance 317,493,869.06
Ending Scheduled Collateral Balance 304,265,462.45
Ending Actual Collateral Balance at 30-Nov-1998 304,265,462.45
Monthly P &I Constant 3,073,760.04
Ending Scheduled Balance for Premium Loans 304,265,462.45
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Principal Prepayments 13,018,928.99
Group 1 Required Subordinated Amount 3,075,787.85
Group 2 Required Subordinated Amount 7,749,450.26
Group 1 Subordination Increase Amount 439,223,28
Group 2 Subordination Increase Amount 799,747.60
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2
Collateral Description Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 10.834403 10.820753
Weighted Average Net Rate 10.509390 10.605021
Weighted Average Maturity 254.00 347.00
Beginning Loan Count 2,041 1,776
Loans Paid In Full 71 53
Ending Loan Count 1,970 1,723
Beginning Scheduled Balance 118,392,397.87 199,101,471.19
Ending scheduled Balance 113,528,046.16 190,737,416.29
Record Date 11/30/98 11/30/98
Principal And Interest Constant 1,188,919.88 1,884,840.16
Scheduled Principal 119,994.06 89,483.56
Unscheduled Principal 4,744,357.65 8,274,571.34
Scheduled Interest 1,088,258.07 1,850,074.01
Servicing Fees 49,330.17 82,958.95
Master Servicing Fees 0.00 0.00
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 739.95 1,244.38
Pool Insurance Fee 0.00 0.00
Spread Fee 1 1,328.00 6,308.00
Spread Fee 2 0.00 0.00
Spread Fee 3 0.00 0.00
Net Interest 1,036,859.95 1,759,562.68
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C> <C> <C> <C> <C> <C>
Group
30 Days 60 Days 90 + Days Foreclosure REO Bankruptc
1 Principal Balance 621,433.86 307,575.60 317,493.34 1,102,821.92 153,873.50 0.00
Percentage Of Balanc 0.547% 0.271% 0.280% 0.971% 0.136% 0.000%
Loan Count 14 6 4 25 2 0
Percentage Of Loans 0.711% 0.305% 0.203% 1.269% 0.102% 0.000%
2 Principal Balance 4,462,118.76 2,954,139.30 1,058,448.57 12,765,764.73 750,073.70 0.00
Percentage Of Balanc 2.339% 1.549% 0.555% 6.693% 0.393% 0.000%
Loan Count 58 26 10 96 5 0
Percentage Of Loans 3.366% 1.509% 0.580% 5.572% 0.290% 0.000%
</TABLE>
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