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Previous: XOOM INC, 8-A12G, 1998-12-07 |
Next: LAMAR CAPITAL CORP, S-1/A, 1998-12-07 |
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):
November 25, 1998
AMRESCO Residential Securities Corporation on behalf of:
AMRESCO Residential Securities Corporation Mortgage Loan Trust
1998-3
(Exact name of registrant as specified in its charter)
New York 333-30759-3 Application Pending
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Norwest Bank Minnesota,
National Association
Sixth Street and Marquette Avenue
Minneapolis, MN 55479-1026
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (612) 667-8058
No Change
(Former name or former address, if changed since last report)
Item 5. Other Events.
Information relating to the distributions to
Certificateholders for the period from October 1, 1998 to October
31, 1998 (the "Monthly Period") of the AMRESCO Residential
Securities Corporation Mortgage Loan Trust 1998-3 (the
"Registrant" or "Trust") in respect of the Mortgage Loan Asset
Backed Certificates, Series 1998-3, Class A (the "Certificates")
issued by the Registrant and the performance of the Trust
(including distributions of principal and interest, delinquent
balances of mortgage loans, and the subordinated amount
remaining), together with certain other information relating to
the Certificates, is contained in the Monthly Report for the
Monthly Period provided to Certificateholders pursuant to the
Pooling and Servicing Agreement dated as of September 1, 1998,
among AMRESCO Residential Securities Corporation in its capacity
as Depositor, AMRESCO Residential Capital Markets, Inc. in its
capacity as the Seller, Master Servicer and Special Servicer,
AMRESCO Residential Mortgage Corporation as Servicer, the Federal
Home Loan Mortgage Corporation as Guarantor and Norwest Bank
Minnesota, National Association, in its capacity as the trustee.
Item 7. Exhibit.
Monthly Report for the Monthly Period relating to the
Certificates issued by the Trust.
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.
By: AMRESCO Residential Securities Corporation
Mortgage Loan Trust 1998-3
By: /s/Ron B. Kirkland
Name: Ron B. Kirkland
Title: Vice President and
Chief Accounting Officer
Dated: December 4, 1998
<TABLE>
<CAPTION>
AMRESCO Residential Securities Corporation Contact: Customer Service Columbia, MD
Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A.
Record Date: 30-Oct-1998 Securities Administration Services
Distribution Date: 25-Nov-1998 11000 Broken Land Parkway
Columbia, MD 21044
AMRESCO Series 1998-3 Telephone: (301) 815-6600
Fax: (410) 884-2369
Certificate Holder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
CLASS CUSIP Description Rate Balance Distribution Distribution
Current Ending Cumulative
Realized Certificate Total Realized
Loss Balance Distribution Losses
<S> <C> <C> <C> <C> <C> <C>
A-1 ARS9803A1 SEQ 6.21000% 79,091,070.67 409,296.29 2,472,854.02
0.00 76,618,216.65 2,882,150.31 0.00
A-2 ARS9803A2 SEQ 5.70000% 60,000,000.00 285,000.00 0.00
0.00 60,000,000.00 285,000.00 0.00
A-3 ARS9803A3 SEQ 5.90000% 27,000,000.00 132,750.00 0.00
0.00 27,000,000.00 132,750.00 0.00
A-4 ARS9803A4 SEQ 6.07000% 59,000,000.00 298,441.67 0.00
0.00 59,000,000.00 298,441.67 0.00
A-5 ARS9803A5 SEQ 6.40000% 21,289,000.00 113,541.33 0.00
0.00 21,289,000.00 113,541.33 0.00
A-6 ARS9803A6 SEQ 5.95000% 27,300,000.00 135,362.50 0.00
0.00 27,300,000.00 135,362.50 0.00
A-7 03215PFG9 SEQ 5.45938% 419,222,084.73 1,907,243.89 14,246,854.74
0.00 404,975,229.98 16,154,098.63 0.00
A-8 03215PFH7 SEQ 5.94000% 143,000,000.00 707,850.00 0.00
0.00 143,000,000.00 707,850.00 0.00
C-AIO ARS98CAI3 IO 3.00000% 0.00 260,300.00 0.00
0.00 0.00 260,300.00 0.00
C-FIO ARS98CFI3 IO 7.50000% 0.00 170,625.00 0.00
0.00 0.00 170,625.00 0.00
M-1A 03215PFJ3 MEZ 5.63938% 55,650,000.00 261,526.25 0.00
0.00 55,650,000.00 261,526.25 0.00
M-2A 03215PFK0 MEZ 5.91938% 48,470,000.00 239,093.62 0.00
0.00 48,470,000.00 239,093.62 0.00
B-1A 03215PFL8 SUB 6.96938% 41,290,000.00 239,804.75 0.00
0.00 41,290,000.00 239,804.75 0.00
B-1F 03215PFM6 SUB 8.29000% 6,344,000.00 43,826.47 0.00
0.00 6,344,000.00 43,826.47 0.00
D ARS98003D IO 0.00000% 0.00 0.00 0.00
0.00 0.00 0.00 0.00
OC ARS9803OC SUB 0.00000% 0.00 0.00 0.00
0.00 0.00 0.00 0.00
S ARS98003S IO 0.10000% 0.00 40,675.09 0.00
0.00 0.00 40,675.09 0.00
R ARS98003R RES 0.00000% 0.00 0.00 0.00
0.00 0.00 0.00 0.00
RL RES 0.00000% 0.00 0.00 0.00
0.00 0.00 0.00 0.00
TOTALS 987,656,155.40 5,245,336.86 16,716,708.76
0.00 970,936,446.63 21,965,045.62 0.00
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.
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
CLASS Amount Balance Distribution Distribution Accretion Loss (1)
Total Ending Ending Total
Principal Certificate Certificate Principal
Reduction Balance Percentage Distribution
A-1 81,000,000.00 79,091,070.67 229,515.22 2,243,338.80 0.00 0.00
2,472,854.02 76,618,216.65 0.94590391 2,472,854.02
A-2 60,000,000.00 60,000,000.00 0.00 0.00 0.00 0.00
0.00 60,000,000.00 1.00000000 0.00
A-3 27,000,000.00 27,000,000.00 0.00 0.00 0.00 0.00
0.00 27,000,000.00 1.00000000 0.00
A-4 59,000,000.00 59,000,000.00 0.00 0.00 0.00 0.00
0.00 59,000,000.00 1.00000000 0.00
A-5 21,289,000.00 21,289,000.00 0.00 0.00 0.00 0.00
0.00 21,289,000.00 1.00000000 0.00
A-6 27,300,000.00 27,300,000.00 0.00 0.00 0.00 0.00
0.00 27,300,000.00 1.00000000 0.00
A-7 429,657,000.00 419,222,084.73 360,216.26 13,886,638.48 0.00 0.00
14,246,854.74 404,975,229.98 0.94255471 14,246,854.74
A-8 143,000,000.00 143,000,000.00 0.00 0.00 0.00 0.00
0.00 143,000,000.00 1.00000000 0.00
C-AIO 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
C-FIO 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
M-1A 55,650,000.00 55,650,000.00 0.00 0.00 0.00 0.00
0.00 55,650,000.00 1.00000000 0.00
M-2A 48,470,000.00 48,470,000.00 0.00 0.00 0.00 0.00
0.00 48,470,000.00 1.00000000 0.00
B-1A 41,290,000.00 41,290,000.00 0.00 0.00 0.00 0.00
0.00 41,290,000.00 1.00000000 0.00
B-1F 6,344,000.00 6,344,000.00 0.00 0.00 0.00 0.00
0.00 6,344,000.00 1.00000000 0.00
D 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
OC 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
S 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
RL 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
TOTALS 1,000,000,000.00 987,656,155.40 589,731.48 16,129,977.28 0.00 0.00
16,719,718.76 970,936,446.63 0.97093645 16,719,708.76
(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.
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Class Face Certificate Principal Principal Realized
(2) Amount Balance Distribution Distribution Accretion Loss (3)
Total Ending Ending Total
Principal Certificate Certificate Principal
Reduction Balance Percentage Distribution
A-1 81,000,000.00 976.43297123 2.83352123 27.69554074 0.00000000 0.00000000
30.52906198 945.90390926 0.94590391 30.52906198
A-2 60,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-3 27,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-4 59,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-5 21,289,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-6 27,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-7 429,657,000.00 975.71338237 0.83838099 32.32028916 0.00000000 0.00000000
33.15867015 942.55471220 0.94255471 33.15867015
A-8 143,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
C-AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
C-FIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
M-1A 55,650,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
M-2A 48,470,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
B-1A 41,290,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
B-1F 6,344,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
D 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
S 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
RL 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
All Denominations are Per $1000
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud
Losses Unless Otherwise Disclosed, Please Refer to the Prospectus
Supplement for a Full Description.
Interest Distribution Statement
Beginning Payment of Non
Original Current Certificate Current Unpaid Current Supported
Face Certificate Notional Accrued Interest Interest Interest Realized
Amount Rate Balance Interest Shortfall Shortfall Shortfall Losses(4)
Total Remaining Ending
Interest Unpaid Certificate/
Distribution Interest Notional
Shortfall Balance
A-1 81,000,000.00 6.21000% 79,091,070.67 409,296.29 0.00 0.00 0.00 0.00
409,296.29 0.00 76,618,216.65
A-2 60,000,000.00 5.70000% 60,000,000.00 285,000.00 0.00 0.00 0.00 0.00
285,000.00 0.00 60,000,000.00
A-3 27,000,000.00 5.90000% 27,000,000.00 132,750.00 0.00 0.00 0.00 0.00
132,750.00 0.00 27,000,000.00
A-4 59,000,000.00 6.07000% 59,000,000.00 298,441.67 0.00 0.00 0.00 0.00
298,441.67 0.00 59,000,000.00
A-5 21,289,000.00 6.40000% 21,289,000.00 113,541.33 0.00 0.00 0.00 0.00
113,541.33 0.00 21,289,000.00
A-6 27,300,000.00 5.95000% 27,300,000.00 135,362.50 0.00 0.00 0.00 0.00
135,362.50 0.00 27,300,000.00
A-7 429,657,000.00 5.45938% 419,222,084.73 1,907,243.89 0.00 0.00 0.00 0.00
1,907,243.89 0.00 404,975,229.98
A-8 143,000,000.00 5.94000% 143,000,000.00 707,850.00 0.00 0.00 0.00 0.00
707,850.00 0.00 143,000,000.00
C-AIO 0.00 3.00000% 104,120,000.00 260,300.00 0.00 0.00 0.00 0.00
260,300.00 0.00 104,120,000.00
C-FIO 0.00 7.50000% 27,300,000.00 170,625.00 0.00 0.00 0.00 0.00
170,625.00 0.00 27,300,000.00
M-1A 55,650,000.00 5.63938% 55,650,000.00 261,526.25 0.00 0.00 0.00 0.00
261,526.25 0.00 55,650,000.00
M-2A 48,470,000.00 5.91938% 48,470,000.00 239,093.62 0.00 0.00 0.00 0.00
239,093.62 0.00 48,470,000.00
B-1A 41,290,000.00 6.96938% 41,290,000.00 239,804.75 0.00 0.00 0.00 0.00
239,804.75 0.00 41,290,000.00
B-1F 6,344,000.00 8.29000% 6,344,000.00 43,826.47 0.00 0.00 0.00 0.00
43,826.47 0.00 6,344,000.00
D 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00
OC 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00
S 0.00 0.10000% 990,085,099.54 82,507.09 0.00 0.00 0.00 0.00
40,675.09 0.00 975,904,330.42
R 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00
RL 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00
Totals 1,000,000,000.00 5,287,168.86 0.00 0.00 0.00 0.00
5,245,336.86 0.00
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud
Losses Unless Otherwise Disclosed. Please Refer to the Prospectus
Supplement for a Full Description.
Interest Distribution Factors Statement
Beginning Payment of Non
Original Current Certificate Current Unpaid Current Supported
Face Certificate Notional Accrued Interest Interest Interest Realized
CLASS(5) Amount Rate Balance Interest Shortfall Shortfall Shortfall Losses (6)
Total Remaining Ending
Interest Unpaid Certificate/
Distribution Interest Notional
Shortfall Balance
A-1 81,000,000.00 6.21000% 976.43297123 5.05304062 0.00000000 0.00000000 0.00000000 0.00000000
5.05304062 0.00000000 945.90390926
A-2 60,000,000.00 5.70000% 1000.00000000 4.75000000 0.00000000 0.00000000 0.00000000 0.00000000
4.75000000 0.00000000 1000.00000000
A-3 27,000,000.00 5.90000% 1000.00000000 4.91666667 0.00000000 0.00000000 0.00000000 0.00000000
4.91666667 0.00000000 1000.00000000
A-4 59,000,000.00 6.07000% 1000.00000000 5.05833339 0.00000000 0.00000000 0.00000000 0.00000000
5.05833339 0.00000000 1000.00000000
A-5 21,289,000.00 6.40000% 1000.00000000 5.33333318 0.00000000 0.00000000 0.00000000 0.00000000
5.33333318 0.00000000 1000.00000000
A-6 27,300,000.00 5.95000% 1000.00000000 4.95833333 0.00000000 0.00000000 0.00000000 0.00000000
4.95833333 0.00000000 1000.00000000
A-7 429,657,000.00 5.45938% 975.71338237 4.43899178 0.00000000 0.00000000 0.00000000 0.00000000
4.43899178 0.00000000 942.55471220
A-8 143,000,000.00 5.94000% 1000.00000000 4.95000000 0.00000000 0.00000000 0.00000000 0.00000000
4.95000000 0.00000000 1000.00000000
C-AIO 0.00 3.00000% 1000.00000000 2.25000000 0.00000000 0.00000000 0.00000000 0.00000000
2.25000000 0.00000000 1000.00000000
C-FIO 0.00 7.50000% 1000.00000000 6.25000000 0.0000000 0.00000000 0.00000000 0.00000000
6.25000000 0.00000000 1000.00000000
M-1A 55,650,000.00 5.63938% 1000.00000000 4.69948338 0.00000000 0.00000000 0.00000000 0.00000000
4.69948338 0.00000000 1000.00000000
M-2A 48,470,000.00 5.91938% 1000.00000000 4.93281659 0.00000000 0.00000000 0.00000000 0.00000000
4.93281659 0.00000000 1000.00000000
B-1A 41,290,000.00 6.96938% 1000.00000000 5.80781666 0.00000000 0.00000000 0.00000000 0.00000000
5.80781666 0.00000000 1000.00000000
B-1F 6,344,000.00 8.29000% 1000.00000000 6.90833386 0.00000000 0.00000000 0.00000000 0.00000000
6.90833386 0.00000000 1000.00000000
D 0.00 0.00000% 1000.00000000 0.00 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000
OC 0.00 0.0000000% 0.00000000 0.00 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000
S 0.00 0.10000% 990.08989112 0.08250749 0.00000000 0.00000000 0.00000000 0.00000000
0.04067529 0.00000000 975.90905337
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000
RL 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000
All Denominations are Per $1000
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud
Losses Unless Otherwise Disclosed. Please Refer to the Prospectus
Supplement for a Full Description.
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
Fee 0.11000% 273,680,070.67 271,207,216.65 0.00 0.00 98.41002966%
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Account Statement
Certificate account
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 22,378,494.75
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 22,378,494.75
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 413,449.13
Payment of Interest and Principal 21,965,045.62
Total Withdrawals (Pool Distribution Amount) 22,378,494.75
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
Gross Servicing Fee 330,028.33
Trustee Fee 2,062.74
Special Servicing Fee 41,832.00
FHLMC Fee 25,087.34
Master Servicing Fee 14,438.72
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 413,449.13
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C> <C> <C> <C>
Reserve Fund 0.00 41,832.00 41,832.00 0.00
Certificateholder Delinquency/Credit Enhancement Statement
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid Number Unpaid
Number Principal Of Loans Balance
Of Loans Balance
30 Days 89 8,375,514.03 0.889733% 0.858231%
60 Days 10 1,635,246.80 0.099970% 0.167562%
90+ Days 2 119,126.67 0.019994% 0.012207%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 101 10,129,887.50 1.009697% 1.038000%
Current Period Realized Loss-Includes Interest Shortfall 0.00
Cumulative Realized Losses-Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
Class M-2A 47,634,000.00 4.76340000% 47,634,000.00 4.88101123% 4.966675% 0.000000%
Class B-1F 0.00 0.00000000% 0.00 0.00000000% 0.650064% 0.000000%
Class OC 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
Please Refer to The Prospectus Supplement for a Full Description Of Loss Exposure
COLLATERAL STATEMENT
Collateral Description Fixed Mixed & 6 Month LIBOR
Weighted Average Gross Coupon 9.935783%
Weighted Average Net Coupon 9.535783%
Weighted Average Pass-Through Rate 9.515783%
Weighted Average Maturity (Stepdown Calculation) 345
Beginning Scheduled Collateral Loan Count 10,216
Number of Loans Paid in Full 123
Ending Scheduled Collateral Loan Count 10,003
Beginning Scheduled Collateral Balance 990,085,099.54
Ending Scheduled Collateral Balance 975,904,330.42
Ending Actual Collateral Balance at 30-Oct-1998 976,417,969.08
Monthly P&I Constant 8,787,457.11
Ending Scheduled Balance for Premium Loans 975,904,330.42
Group 1 2 3
Collateral Description Mixed Fixed Mixed Fixed 6 Month LIBOR ARM
Weighted Average Coupon Rate 9.994784 9.951099 9.062945
Weighted Average Net Rate 9.574784 9.531049 8.642945
Weighted Average Maturity 326.00 352.00 336.00
Record Date 10/30/98 10/30/98 10/30/98
Principal And Interest Constant 2,565,711.37 5,964,664.93 257,080.81
Beginning Loan Count 3,891 6,124 111
Loans Paid In Full 24 98 1
Ending Loan Count 3,867 6,026 110
Beginning Scheduled Balance 280,489,840.32 678,763,094.73 30,832,164.49
Ending Scheduled Balance 278,617,706.25 666,831,416.19 30,455,207.98
Scheduled Principal 229,515,22 335,993,97 24,222.29
Unscheduled Principal 1,642,618.85 11,595,684.57 352,734.22
Scheduled Interest 2,336,196.15 5,628,670.96 232,858,52
Servicing Fee 93,496.61 226,254.33 10,277.39
Master Servicing Fee 4,090,46 9,898.62 449.64
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 584.36 1,414.14 64.24
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 2,238,024.72 5,391,103.87 222,067.25
Realized Loss Amount 0.00 0.00 0.00
Cummulative Realized Loss 0.00 0.00 0.00
1 2 3
Required Overcollateralization Amount 0.00 0.00 0.00
Overcollateralization Increase Amount 0.00 0.00 0.00
Overcollateralization Reduction Amount 0.00 0.00 0.00
Specified Overcollateralization Amount 5,638,660.00 17,951,675.00 0.00
Overcollateralization Amount 1,066,442.07 3,906,281.26 0.00
Overcollateralization Deficiency Amount 4,572,217.93 14,045,393.76 0.00
Base Overcollateralization Amount 0.00 0.00 0.00
Extra Principal Distribution Amount 600,719.95 1,938,219.69 0.00
Excess Cash Amount 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Deliquency Status By Group
Group 30 Day 60 Day 90 + Day Foreclosure REO Bankruptcy
<S> <C> <C> <C> <C> <C> <C>
1 Principal Balance 2,837,112.42 413,466.03 50,456.03 0.00 0.00 0.00
Percentage Of Balance 1.018% 0.148% 0.018% 0.000% 0.000% 0.000%
Loan Count 36 5 1 0 0 0
Percentage Of Loan Count 0.931% 0.129% 0.026% 0.000% 0.000% 0.000%
2 Principal Balance 5,538,401.61 1,221,780.77 68,670.64 0.00 0.00 0.00
Percentage Of Balance 0.831% 0.183% 0.010% 0.000% 0.000% 0.000%
Loan Count 53 5 1 0 0 0
Percentage Of Loan Count 0.880% 0.083% 0.017% 0.000% 0.000% 0.000%
3 Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00
Percentage Of Balance 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
Loan Count 0 0 0 0 0 0
Percentage Of Loan Count 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
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