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.
WILSHIRE MORTGAGE FUNDING COMPANY IV, INC.
Wilshire Mortgage Funding Company VI, Inc., a Delaware Corporation,
its successors and permitted assigns, as Unaffiliated Seller (the
"Unaffiliated Seller"), Wilshire Servicing Corporation, a Delaware
corporation ("WSC"), its successors and permitted assigns, as
Servicer (the "Servicer"), Credit Suisse First Boston Mortgage
Securities Corp., a Delaware corporation, as Depositor (the
"Depositor"), and Bankers Trust Company of California, N.A., a
national banking association chartered under the laws of the United
States, its successors and permitted assigns, as Trustee (the
"Trustee") and as Back-up Servicer (the "Back-up Servicer") under the
Pooling and Servicing Agreement, dated as of June 1, 1998, providing
for the issuance of the Wilshire Funding Corporation Mortgage Backed
Certificates, Series 1998-WFC2.)
WILSHIRE FUNDING CORPORATION MORTGAGE BACKED CERTIFICATES,
SERIES 1998-WFC2.
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-33807 13-3320910
(Commission File Number) (I.R.S. Employer Identification No.)
11 MADISON AVENUE
NEW YORK, NEW YORK 10010
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212) 325-2000
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
December 28, 1998.
Monthly Report to Certificateholders as to distributions made on
January 25, 1999.
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 June 1,
1998.
Date: January 29, 1999 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
DOCUMENT:
Monthly Report to Certificateholders as to distributions made on
December 28, 1998.
Monthly Report to Certificateholders as to distributions made on
January 25, 1999.
Wilshire Funding Corporation
Mortgage Backed Certificates
Series 1998- WFC2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
Reg Int 22,692,783.00 21,377,930.68 112,819.38 894,019.38 1,
>006,838.76 0.00 0.00 20,483,911.30
Reg Int 12,059,818.00 11,991,896.38 63,285.75 12,939.00
> 76,224.75 0.00 0.00 11,978,957.38
Reg Int 11,255,830.00 11,192,436.50 59,066.70 12,076.41
> 71,143.11 0.00 0.00 11,180,360.09
Reg Int 8,843,866.00 8,794,056.81 46,409.53 9,488.61
> 55,898.14 0.00 0.00 8,784,568.20
Reg Int 33,552,979.00 29,918,491.56 196,899.38 130,818.70
>327,718.08 0.00 0.00 29,787,672.86
Reg Int 40,232,784.00 37,905,782.71 288,241.74 923,819.88 1,
>212,061.62 0.00 0.00 36,981,962.83
Reg Int 20,099,697.00 19,986,494.30 105,476.24 21,565.02
>127,041.26 0.00 0.00 19,964,929.28
Reg Int 3,215,951.00 3,197,838.58 16,876.20 3,450.40
> 20,326.60 0.00 0.00 3,194,388.18
Reg Int 8,843,869.30 8,732,518.42 46,084.78 9,422.21
> 55,506.99 0.00 0.00 8,723,096.21
R-I 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 160,797,577.30 153,097,445.94 935,159.70 2,017,599.61 2,
>952,759.31 0.00 0.00 151,079,846.33
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
Reg Int A 942.058569 4.971597 39.396639
> 44.368236 902.661930 6.332851% NA
Reg Int B 994.367940 5.247654 1.072902
> 6.320556 993.295038 6.332851% NA
Reg Int C 994.367941 5.247654 1.072903
> 6.320557 993.295038 6.332851% NA
Reg Int D 994.367939 5.247652 1.072903
> 6.320555 993.295036 6.332851% NA
Reg Int E 891.679143 5.868313 3.898870
> 9.767183 887.780273 7.897432% NA
Reg Int F 942.161564 7.164350 22.961868
> 30.126218 919.199696 9.124995% NA
Reg Int G 994.367940 5.247653 1.072903
> 6.320556 993.295037 6.332851% NA
Reg Int H 994.367943 5.247655 1.072902
> 6.320557 993.295041 6.332851% NA
Reg Int I 987.409258 5.210930 1.065395
> 6.276324 986.343863 6.332851% NA
R-I 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% NA
SELLER: Wilshire Mortgage Funding Company VI, Inc. ADMI
>NISTRATOR: Jennifer Bohannon
SERVICER: Wilshire Servicing Corporation
> Bankers Trust Company
LEAD UNDERWRITER: Credit Suisse First Boston Mortgage Securitie
> 3 Park Plaza
RECORD DATE: November 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: December 28, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
Wilshire Funding Corporation
Mortgage Backed Certificates
Series 1998- WFC2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-I 22,692,783.00 21,377,930.68 112,819.38 894,019.38 1,
>006,838.76 0.00 0.00 20,483,911.30
A-II 33,552,979.00 29,918,491.56 196,899.38 130,818.70
>327,718.08 0.00 0.00 29,787,672.86
A-III 40,232,784.00 37,905,782.71 221,117.07 923,819.88 1,
>144,936.95 0.00 0.00 36,981,962.83
IO(*) 119,794,194.00 112,386,537.83 67,124.67 0.00
> 67,124.67 0.00 0.00 110,412,864.46
M-1 12,059,818.00 11,991,896.38 63,285.75 12,939.00
> 76,224.75 0.00 0.00 11,978,957.38
M-2 11,255,830.00 11,192,436.50 59,066.70 12,076.41
> 71,143.11 0.00 0.00 11,180,360.09
M-3 8,843,866.00 8,794,056.81 46,409.53 9,488.61
> 55,898.14 0.00 0.00 8,784,568.20
B-1 20,099,697.00 19,986,494.30 105,476.24 21,565.02
>127,041.26 0.00 0.00 19,964,929.28
B-2 3,215,951.00 3,197,838.58 16,876.20 3,450.40
> 20,326.60 0.00 0.00 3,194,388.18
B-3 8,843,869.30 8,732,518.42 46,084.78 9,422.21
> 55,506.99 0.00 0.00 8,723,096.21
R-II 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 160,797,577.30 153,097,445.94 935,159.70 2,017,599.61 2,
>952,759.31 0.00 0.00 151,079,846.33
(*) Represents Notional Balance
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-I 22540AGQ5 942.058569 4.971597 39.396639
> 44.368236 902.661930 6.332851% NA
A-II 22540AGR3 891.679143 5.868313 3.898870
> 9.767183 887.780273 7.897432% NA
A-III 22540AGS1 942.161564 5.495943 22.961868
> 28.457811 919.199696 7.000000% NA
IO(*) 938.163479 0.560333 0.000000
> 0.560333 921.687945 0.716719% NA
M-1 22540AGU6 994.367940 5.247654 1.072902
> 6.320556 993.295038 6.332851% NA
M-2 22540AGV4 994.367941 5.247654 1.072903
> 6.320557 993.295038 6.332851% NA
M-3 22540AGW2 994.367939 5.247652 1.072903
> 6.320555 993.295036 6.332851% NA
B-1 22540AGX0 994.367940 5.247653 1.072903
> 6.320556 993.295037 6.332851% NA
B-2 22540AGY8 994.367943 5.247655 1.072902
> 6.320557 993.295041 6.332851% NA
B-3 22540AGZ5 987.409258 5.210930 1.065395
> 6.276324 986.343863 6.332851% NA
R-II 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% NA
SELLER: Wilshire Mortgage Funding Company VI, Inc. ADMI
>NISTRATOR: Jennifer Bohannon
SERVICER: Wilshire Servicing Corporation
> Bankers Trust Company
LEAD UNDERWRITER: Credit Suisse First Boston Mortgage Securitie
> 3 Park Plaza
RECORD DATE: November 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: December 28, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
Wilshire Funding Corporation
Mortgage Backed Certificates
Series 1998- WFC2
Statement To Certificateholders
Distribution Date: December 28, 1998
DELINQUENCY ADVANCES FOR DISTRIBUTION DATE:
INTEREST:
> 823,517.57
PRINCIPAL:
> 214,421.19
UNREIMBURSED DELINQUENCY ADVANCES REMAINING AFTER DISTRIBUTION DATE:
> 0.00
UNREIMBURSED SERVICING ADVANCES REMAINING AFTER DISTRIBUTION DATE:
> 0.00
DELINQUENT LOAN 31-60
> 61-90 91 +
INFORMATION: DAYS
> DAYS DAYS TOTAL
PRINCIPAL BALANCE (*) 8,025,081.15 1,
>647,845.60 5,788,736.61 15,461,663.36
NUMBER OF LOANS (*) 79
> 29 47 155
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE
> 5,994,226.38
NUMBER OF LOANS
> 62
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE
> 0.00
NUMBER OF LOANS
> 0
REO LOAN INFORMATION:
PRINCIPAL BALANCE
> 337,470.96
NUMBER OF LOANS
> 3
BOOK VALUE PRINCIPAL BALANCE OF REO LOANS:
> #N/A
PRINCIPAL PREPAYMENTS
> 1,734,634.69
SUBSTITUTION AMOUNTS OR REPURCHASE AMOUNTS
> 0.00
OTHER UNSCHEDULED RECOVERIES
> 0.00
ENDING MORTGAGE LOAN PRINCIPAL BALANCE
> 151,079,846.33
ENDING LOAN COUNT
> 1,103
(*) Exclusive of Bankruptcies, Foreclosures and REOs.
Page 3 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
Wilshire Funding Corporation
Mortgage Backed Certificates
Series 1998- WFC2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
Reg Int 22,692,783.00 20,483,911.30 108,795.87 997,772.50 1,
>106,568.37 0.00 0.00 19,486,138.80
Reg Int 12,059,818.00 11,978,957.38 63,623.65 12,884.58
> 76,508.23 0.00 0.00 11,966,072.80
Reg Int 11,255,830.00 11,180,360.09 59,382.07 12,025.60
> 71,407.67 0.00 0.00 11,168,334.49
Reg Int 8,843,866.00 8,784,568.20 46,657.34 9,448.68
> 56,106.02 0.00 0.00 8,775,119.52
Reg Int 33,552,979.00 29,787,672.86 194,230.78 1,828,709.81 2,
>022,940.59 0.00 0.00 27,958,963.05
Reg Int 40,232,784.00 36,981,962.83 281,767.86 1,434,689.31 1,
>716,457.17 0.00 0.00 35,547,273.52
Reg Int 20,099,697.00 19,964,929.28 106,039.41 21,474.28
>127,513.69 0.00 0.00 19,943,455.00
Reg Int 3,215,951.00 3,194,388.18 16,966.30 3,435.88
> 20,402.18 0.00 0.00 3,190,952.30
Reg Int 8,843,869.30 8,723,096.21 46,330.84 9,382.55
> 55,713.39 448,498.37 0.00 8,265,215.29
R-I 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 160,797,577.30 151,079,846.33 923,794.12 4,329,823.19 5,
>253,617.31 448,498.37 0.00 146,301,524.77
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
Reg Int A 902.661930 4.794294 43.968715
> 48.763008 858.693215 6.373541% NA
Reg Int B 993.295038 5.275672 1.068389
> 6.344062 992.226649 6.373541% NA
Reg Int C 993.295038 5.275672 1.068389
> 6.344061 992.226650 6.373541% NA
Reg Int D 993.295036 5.275672 1.068388
> 6.344060 992.226648 6.373541% NA
Reg Int E 887.780273 5.788779 54.502159
> 60.290938 833.278114 7.824611% NA
Reg Int F 919.199696 7.003439 35.659708
> 42.663147 883.539989 9.142874% NA
Reg Int G 993.295037 5.275672 1.068388
> 6.344060 992.226649 6.373541% NA
Reg Int H 993.295041 5.275671 1.068387
> 6.344058 992.226654 6.373541% NA
Reg Int I 986.343863 5.238752 1.060910
> 6.299662 934.570041 6.373541% NA
R-I 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% NA
SELLER: Wilshire Mortgage Funding Company VI, Inc. ADMI
>NISTRATOR: Jennifer Bohannon
SERVICER: Wilshire Servicing Corporation
> Bankers Trust Company
LEAD UNDERWRITER: Credit Suisse First Boston Mortgage Securitie
> 3 Park Plaza
RECORD DATE: December 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: January 25, 1999
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1999 Bankers Trust Company
Wilshire Funding Corporation
Mortgage Backed Certificates
Series 1998- WFC2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-I 22,692,783.00 20,483,911.30 108,795.87 997,772.50 1,
>106,568.37 0.00 0.00 19,486,138.80
A-II 33,552,979.00 29,787,672.86 194,230.78 1,828,709.81 2,
>022,940.59 0.00 0.00 27,958,963.05
A-III 40,232,784.00 36,981,962.83 215,728.12 1,434,689.31 1,
>650,417.43 0.00 0.00 35,547,273.52
IO(*) 119,794,194.00 110,412,864.46 66,039.74 0.00
> 66,039.74 0.00 0.00 106,126,782.66
M-1 12,059,818.00 11,978,957.38 63,623.65 12,884.58
> 76,508.23 0.00 0.00 11,966,072.80
M-2 11,255,830.00 11,180,360.09 59,382.07 12,025.60
> 71,407.67 0.00 0.00 11,168,334.49
M-3 8,843,866.00 8,784,568.20 46,657.34 9,448.68
> 56,106.02 0.00 0.00 8,775,119.52
B-1 20,099,697.00 19,964,929.28 106,039.41 21,474.28
>127,513.69 0.00 0.00 19,943,455.00
B-2 3,215,951.00 3,194,388.18 16,966.30 3,435.88
> 20,402.18 0.00 0.00 3,190,952.30
B-3 8,843,869.30 8,723,096.21 46,330.84 9,382.55
> 55,713.39 448,498.37 0.00 8,265,215.29
R-II 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 160,797,577.30 151,079,846.33 923,794.12 4,329,823.19 5,
>253,617.31 448,498.37 0.00 146,301,524.77
(*) Represents Notional Balance
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-I 22540AGQ5 902.661930 4.794294 43.968715
> 48.763008 858.693215 6.373541% NA
A-II 22540AGR3 887.780273 5.788779 54.502159
> 60.290938 833.278114 7.824611% NA
A-III 22540AGS1 919.199696 5.361998 35.659708
> 41.021706 883.539989 7.000000% NA
IO(*) 921.687945 0.551277 0.000000
> 0.551277 885.909234 0.717740% NA
M-1 22540AGU6 993.295038 5.275672 1.068389
> 6.344062 992.226649 6.373541% NA
M-2 22540AGV4 993.295038 5.275672 1.068389
> 6.344061 992.226650 6.373541% NA
M-3 22540AGW2 993.295036 5.275672 1.068388
> 6.344060 992.226648 6.373541% NA
B-1 22540AGX0 993.295037 5.275672 1.068388
> 6.344060 992.226649 6.373541% NA
B-2 22540AGY8 993.295041 5.275671 1.068387
> 6.344058 992.226654 6.373541% NA
B-3 22540AGZ5 986.343863 5.238752 1.060910
> 6.299662 934.570041 6.373541% NA
R-II 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% NA
SELLER: Wilshire Mortgage Funding Company VI, Inc. ADMI
>NISTRATOR: Jennifer Bohannon
SERVICER: Wilshire Servicing Corporation
> Bankers Trust Company
LEAD UNDERWRITER: Credit Suisse First Boston Mortgage Securitie
> 3 Park Plaza
RECORD DATE: December 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: January 25, 1999
> FACTOR INFORMATION(800) 735-7777
Page 2 of 3
> (c) COPYRIGHT 1999 Bankers Trust Company
Wilshire Funding Corporation
Mortgage Backed Certificates
Series 1998- WFC2
Statement To Certificateholders
Distribution Date: January 25, 1999
DELINQUENCY ADVANCES FOR DISTRIBUTION DATE:
INTEREST:
> 751,511.70
PRINCIPAL:
> 189,555.31
UNREIMBURSED DELINQUENCY ADVANCES REMAINING AFTER DISTRIBUTION DATE:
> 0.00
UNREIMBURSED SERVICING ADVANCES REMAINING AFTER DISTRIBUTION DATE:
> 0.00
DELINQUENT LOAN 31-60
> 61-90 91 +
INFORMATION: DAYS
> DAYS DAYS TOTAL
PRINCIPAL BALANCE (*) 0.00
> 0.00 0.00 0.00
NUMBER OF LOANS (*) 0
> 0 0 0
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE
> 4,562,925.40
NUMBER OF LOANS
> 48
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE
> 0.00
NUMBER OF LOANS
> 0
REO LOAN INFORMATION:
PRINCIPAL BALANCE
> 755,091.16
NUMBER OF LOANS
> 7
BOOK VALUE PRINCIPAL BALANCE OF REO LOANS:
> #N/A
PRINCIPAL PREPAYMENTS
> 3,513,098.68
SUBSTITUTION AMOUNTS OR REPURCHASE AMOUNTS
> 0.00
OTHER UNSCHEDULED RECOVERIES
> 545,788.18
ENDING MORTGAGE LOAN PRINCIPAL BALANCE
> 146,301,524.77
ENDING LOAN COUNT
> 1,080
(*) Exclusive of Bankruptcies, Foreclosures and REOs.
Page 3 of 3
> (c) COPYRIGHT 1999 Bankers Trust Company
