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: December 28, 1998
ADVANTA Mortgage Loan Trust 1998-3
New York 33-61474-07 "Pending"
c/o ADVANTA Mortgage Corp., USA
Attn: William P. Garland
10790 Rancho Bernardo Road
San Diego, CA 92127
(619) 674-1800
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the November, 1998 Monthly Period of the Trust in respect of
the Home Equity Loan Pass-Through 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 Home Equity 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 (the "Agreement")
dated as of September 1, 1998 between ADVANTA Mortgage Corp.,
USA as Servicer, and Bankers Trust Company, as Trustee.
Item 7. Financial Statements, Exhibits
Exhibit No. Exhibit
1. Monthly Report for the November, 1998 Monthly
Period relating to the Mortgage Loan Asset-
Backed Certificates Series 1998-3, Class A
issued by the ADVANTA Mortgage Loan
Trust 1998-3.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the November, 1998 Monthly
Period relating to the Mortgage Loan Asset-Backed
Certificates, Series 1998-3, Class A issued by the
ADVANTA Mortgage Loan Trust 1998-3.
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 thereunto duly authorized.
ADVANTA Mortgage Loan Trust 1998-3
BY: ADVANTA Mortgage Corp., USA
BY: /s/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
December 31, 1998
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1998-3
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
A-1 500,000,000. 493,140,648. 2,420,70 5,793,260 8,213,964.30
A-2 500,000,000. 492,103,248. 2,447,18 5,725,439 8,172,627.59
RS -
Totals 1,000,000,000. 985,243,897. 4,867,89 11,518,699. 16,386,591.89
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A-1 487,347,388. 5.355000% 5.917500%
A-2 486,377,809. 5.425000% 5.987500%
RS 0.000000% 0.000000%
Totals 973,725,197.94
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A-1 00755WGA8 986.281298 4.841408 11.586521 16.427929 974.694777
A-2 00755WGB6 984.206497 4.894377 11.450878 16.345255 972.755619
RS AM980103 0.000000 0.000000 0.000000 0.000000 0.000000
</TABLE>
<TABLE>
Delinquent Loan Information:
<CAPTION>
90+ Days Loans Loans
30-59 60-89 excldg f/c,REO in in
Days Days & Bkrptcy REO Foreclosure
<S> <C> <C> <C> <C> <C>
Group 1 Principal Balanc 12,028,576 4,289,98 480,76 3,395,259
% of Pool Balanc 2.42070% 0.86334% 0.09675% 0.00000% 0.68328%
Number of Loans 132 44 5 0 39
% of Loans 2.66559% 0.88853% 0.10097% 0.00000% 0.78756%
Group 2 Principal Balanc 11,480,788 3,706,40 960,77 2,143,523
% of Pool Balanc 2.33991% 0.75541% 0.19582% 0.00000% 0.43687%
Number of Loans 215 63 18 0 32
% of Loans 2.89017% 0.84689% 0.24197% 0.00000% 0.43017%
Loans in Bankrup Group 1 859,724.40
Group 2 1,580,611.91
2,440,336.31
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Beginning Aggregate Mortgage Loan Balance 501,191,088. 494,969,883. 996,160,972.
Prefunding
Principal Reduction 4,285,932 4,318,72 8,604,661
Ending Aggregate Mortgage Loan Balance 496,905,155. 490,651,154. 987,556,310.
Beginning Aggregate Mortgage Loan Count 4990 7503 12493
Ending Aggregate Mortgage Loan Count 4952 7439 12391
Current Weighted Average Coupon Rate 10.013661% 9.953372% 9.983705%
Next Weighted Average Coupon Rate 10.014467% 9.949001% 9.981941%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Scheduled Principal 273,30 802,8 1,076,165
Curtailments
Prepayments 3,941,060 3,515,86 7,456,928
Repurchases/Substitutions 71,4 71,4
Liquidation Proceeds
Other Principal
Less: Realized Losses
Less: Delinquent Principal not Advanced by Servicer
Total Principal Reduction 4,285,932 4,318,72 8,604,661
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Accrued Servicing Fee for the Current Period 208,82 206,2 415,06
Less: Amounts to Cover Interest Shortfalls 2, 3,0
Less: Delinquent Service Fees 34,1 37,8 72,0
Collected Servicing Fees for Current Period: 174,47 165,4 339,97
Advanced Principal 12,2 44,2 56,5
Advanced Interest 685,60 772,3 1,457,923
</TABLE>
<TABLE>
<CAPTION>
Other Subordination
Prepayment Unscheduled Increase Applied Realized Loss Unpaid
Principal Principal Principal Realized Loss Amortization Realized Loss
Class Distributed Distributed Distributed Amount Amount Amount
<S> <C> <C> <C> <C> <C> <C>
A-1 3,750,41 35,9
A-2 3,706,51 35,5
RS
Total 7,456,92 71,5
</TABLE>
<TABLE>
<CAPTION>
Has a Senior Prior Supplemental Extra Extra
Trigger Event Enhancement Subordinated Interest Principal Principal
Occurred Percentage Amount Amount Dist. Amt. Distributed
<S> <S> <C> <C> <C> <C> <C>
Group I NO N/A 8,050,43 1,507,32 1,507,327
Group II NO N/A 2,866,63 1,406,70 1,406,709
Total 10,917,075 2,914,03 2,914,037
Current Target
Subordinated Overcollateralization
Amount Amount
<S> <S> <S>
Group I 9,557,767.37 26,289,224.05
Group II 4,273,345.35 17,750,000.82
Total 13,831,112.72 44,039,224.87
</TABLE>
<TABLE>
<CAPTION>
<S> <S> <C> <C> <C> <C> <C>
Group I Group II Total
Insured Payment 0.00 0.00 0.00
Pool Rolling six month delinquency rate N/A N/A N/A
Pool Cumulative 12 months loss ratio - average balance N/A N/A N/A
Pool Cumulative 12 months loss ratio - current balance 0.00% 0.00% 0.00%
60+ day Delinquent loans (excluding f/c, reo & bankruptcy) 4,770,755.26 4,667,182.89 9,437,938.15
Book Value of REO loans 0.00 0.00 0.00
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 6,757,858.17
Principal Collected: 8,476,712.98
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 1,457,923.88
Delinquency Advances on Mortgage Principal 56,520.00
Substitution Amounts: 71,428.76
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 12,366.47
Capitalized Interest Requirement: -
Capitalized Interest Fund Earnings 0.00
Capitalized Interest Account 0.00
Investment Earnings on Pre-Funding Account 0.00
Pre-Funding Account: -
Sum of the Above Amounts: 16,832,810.26
LESS:
Servicing Fees (including PPIS): 343,034.92
Dealer Reserve: -
Trustee Fees: 5,810.93
Insurance Premiums: 97,372.52
Reimbursement of Delinquency Advances/Servicing -
Total Reductions to Available Funds Amount: 446,218.37
Total Available Funds: 16,386,591.
</TABLE>
