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Previous: BANK ONE CORP, 424B2, 1998-11-05 |
Next: UNION PLANTERS MORT FIN CORP MORT PASS THR CERT SER 1998 1, 8-K, 1998-11-05 |
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):
October 26, 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 333-30759-6 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 September 29, 1998 to
September 30, 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: November 5, 1998
<TABLE>
<CAPTION>
AMRESCO Residential Securities Corporation Contact: Customer Service Columbia, MD
Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A.
Record Date: 30-Sep-1998 Securities Administration Services
Distribution Date: 26-Oct-1998 11000 Broken Land Parkway
Columbia, MD 21044
AMRESCO Series 1998-3 Telephone: (301) 815-6600
Fax: (410) 884-2369
Certificate 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>
A-1 ARS9803A1 SEQ 6.21000% 81,000,000.00 419,175.00 1,908,929.33
0.00 79,091,070.67 2,328,104.33 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 5.62672% 429,657,000.00 1,813,169.73 10,434,915.27
0.00 419,222,084.73 12,248,085.00 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% 0.00 234,270.00 0.00
0.00 0.00 234,270.00 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 5.80672% 55,650,000.00 242,357.98 0.00
0.00 55,650,000.00 242,357.98 0.00
M-2A 03215PFK0 MEZ 6.08672% 48,470,000.00 221,267.49 0.00
0.00 48,470,000.00 221,267.49 0.00
B-1A 03215PFL8 SUB 7.13672% 41,290,000.00 221,006.38 0.00
0.00 41,290,000.00 221,006.38 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 42,496.93 0.00
0.00 0.00 42,496.93 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 1,000,000,000.00 5,081,140.48 12,343,844.60
0.00 987,656,155.40 17,424,985.08 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 81,000,000.00 213,392.93 1,695,536.40 0.00 0.00
1,908,929.33 79,091,070.67 0.97643297 1,908,929.33
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-7 429,657,000.00 429,657,000.00 350,113.33 10,084,801.94 0.00 0.00
10,434,915.27 419,222,084.73 0.97571338 10,434,915.27
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 1,000,000,000.00 563,506.26 11,780,338.34 0.00 0.00
12,343,844.60 987,656,155.40 0.98765616 12,343,844.60
(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(2) Face Certificate Principal Principal Realized
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 1000.00000000 2.63448062 20.93254815 0.00000000 0.00000000
23.56702877 976.43297123 0.97643297 23.56702877
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 1000.00000000 0.81486705 23.47175058 0.00000000 0.00000000
24.28661763 975.71338237 0.97571338 24.28661763
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
CLASS 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% 81,000,000.00 419,175.00 0.00 0.00 0.00 0.00
419,175.00 0.00 79,091,070.67
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 5.62672% 429,657,000.00 1,813,169.73 0.00 0.00 0.00 0.00
1,813,169.73 0.00 419,222,084.73
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% 104,120,000.00 234,270.00 0.00 0.00 0.00 0.00
234,270.00 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 5.80672% 55,650,000.00 242,357.98 0.00 0.00 0.00 0.00
242,357.98 0.00 55,650,000.00
M-2A 48,470,000.00 6.08672% 48,470,000.00 221,267.49 0.00 0.00 0.00 0.00
221,267.49 0.00 48,470,000.00
B-1A 41,290,000.00 7.13672% 41,290,000.00 221,006.38 0.00 0.00 0.00 0.00
221,006.38 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% 1,000,000,000.00 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% 999,995,160.46 83,332.93 0.00 0.00 0.00 0.00
42,496.93 0.00 990,085,099.54
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 5,121,976.48 0.00 0.00 0.00 0.00
5,081,140.48 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% 1000.00000000 5.17500000 0.00000000 0.00000000 0.00000000 0.00000000
5.17500000 0.00000000 976.43297123
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 5.62672% 1000.00000000 4.22004001 0.00000000 0.00000000 0.00000000 0.00000000
4.22004001 0.00000000 975.71338237
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 5.80672% 1000.00000000 4.35504007 0.00000000 0.00000000 0.00000000 0.00000000
4.35504007 0.00000000 1000.00000000
M-2A 48,470,000.00 6.08672% 1000.00000000 4.56504002 0.00000000 0.00000000 0.00000000 0.00000000
4.56504002 0.00000000 1000.00000000
B-1A 41,290,000.00 7.13672% 1000.00000000 5.35254008 0.00000000 0.00000000 0.00000000 0.00000000
5.35254008 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% 1000.00000000 0.08333333 0.00000000 0.00000000 0.00000000 0.00000000
0.04249714 0.00000000 990.08989112
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.
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
<S> <C> <C> <C> <C> <C> <C>
Fee 0.11000% 275,589,000.00 273,680,070.67 0.00 0.00 99.30732746%
Certificateholder Account Statement
Certificate account
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 17,815,818.63
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 17,815,818.63
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 349,997.55
Payment of Interest and Principal 17,465,821.08
Total Withdrawals (Pool Distribution Amount) 17,815,818.63
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 333,331.85
Trustee Fee 14,583.41
Additional 1 Fee 2,082.29
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 349,997.55
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
Reserve Fund 0.00 40,836.00 40,836.00 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 225 20,337,592.35 2.222003% 2.054126%
60 Days 122 12,279,531.12 1.204819% 1.240250%
90+ Days 1 69,467.13 0.009876% 0.007016%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 348 32,686,590.60 3.436698% 3.301392%
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 4.81110159% 4.895539% 0.000000%
Class B-1F 0.00 0.00000000% 0.00 0.00000000% 0.640753% 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 9.517270%
Weighted Average Net Coupon 9.117270%
Weighted Average Pass-Through Rate 9.097271%
Weighted Average Maturity (Stepdown Calculation) 346
Beginning Scheduled Collateral Loan Count 10,215
Number of Loans Paid in Full 89
Ending Scheduled Collateral Loan Count 10,126
Beginning Scheduled Collateral Balance 1,000,000,000.00
Ending Scheduled Collateral Balance 990,085,099.54
Ending Actual Collateral Balance at 30-Sep-1998 990,609,722.65
Monthly P&I Constant 8,494,526.28
Ending Scheduled Balance for Premium Loans 990,085,099.54
Special Servicing Fee 40,836.00
Group ID 1 2
Collateral Description Mixed Fixed Mixed Fixed
Weighted Average Coupon Rate 9.414479 9.624643
Weighted Average Net Rate 8.994479 9.204645
Weighted Average Maturity 327.00 353.00
Record Date 09/30/98 09/30/98
Principal And Interest Constant 2,425,270.19 5,836,798.29
Beginning Loan Count 3,912 6,191
Loans Paid In Full 21 67
Ending Loan Count 3,891 6,124
Beginning Scheduled Balance 281,933,047.53 686,867,307.47
Ending Scheduled Balance 280,489,840.32 678,763,094.73
Scheduled Principal 213,392.93 327,754.20
Unscheduled Principal 1,229,814.28 7,776,458.54
Scheduled Interest 2,211,877.26 5,509,044.09
Servicing Fee 93,977.84 228,955.74
Master Servicing Fee 4,111.67 10,016.77
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 586.92 1,430.36
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 0.00
Spread 2 0.00 0.00
Spread 3 0.00 0.00
Net Interest 2,113,200.83 5,268,641.22
Realized Loss Amount 0.00 0.00
Cummulative Realized Loss 0.00 0.00
1 2
Required Overcollateralization Amount 0.00 0.00
Overcollateralization Increase Amount 0.00 0.00
Overcollateralization Reduction Amount 0.00 0.00
Specified Overcollateralization Amount 5,638,660.00 17,951,675.00
Overcollateralization Amount 465,769.65 1,963,174.49
Overcollateralization Deficiency Amount 5,638,612.47 17,956,562.07
Base Overcollateralization Amount 0.00 0.00
Extra Principal Distribution Amount 465,722.12 1,968,061.56
Excess Cash Amount 0.00 0.00
Deliquency Status By Group
Group 30 Day 60 Day 90 + Day Foreclosure REO Bankruptcy
1 Principal Balance 4,675,210.22 2,271,373.31 0.00 0.00 0.00 0.00
Percentage Of Balance 1.667% 0.810% 0.000% 0.000% 0.000% 0.000%
Loan Count 65 36 0 0 0 0
Percentage Of Loan Count 1.671% 0.925% 0.000% 0.000% 0.000% 0.000%
2 Principal Balance 15,369,928.66 9,608,854.34 69,467.13 0.00 0.00 0.00
Percentage Of Balance 2.264% 1.416% 0.010% 0.000% 0.000% 0.000%
Loan Count 159 85 1 0 0 0
Percentage Of Loan Count 2.596% 1.388% 0.016% 0.000% 0.000% 0.000%
3 Principal Balance 292,453.47 399,303.47 0.00 0.00 0.00 0.00
Percentage Of Balance 0.949% 1.295% 0.000% 0.000% 0.000% 0.000%
Loan Count 1 1 0 0 0 0
Percentage Of Loan Count 0.901% 0.901% 0.000% 0.000% 0.000% 0.000%
</TABLE>
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