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Previous: INTEGRATED FOOD RESOURCES INC, 10SB12G/A, 1999-01-08 |
Next: ATLANTIC PREFERRED CAPITAL CORP, S-11/A, 1999-01-08 |
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
LIFE FINANCIAL HOME LOAN OWNER TRUST
Mortgage Pass-Through Certificates, Series 1998-1 Trust
New York (governing law of 333-19779 PENDING
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
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 LIFE FINANCIAL
HOME LOAN OWNER TRUST, Mortgage Pass-Through Certificates, Series 1998-1
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 Mortgage Pass-Through Certificates, Series
1998-1 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.
LIFE FINANCIAL HOME LOAN OWNER TRUST
Mortgage Pass-Through Certificates, Series 1998-1 Trust
By: Norwest Bank Minnesota, N.A., as Indenture Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 12/29/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-1 Trust, relating to the December 28,
1998 distribution.
<TABLE>
<CAPTION>
LIFE FINANCIAL HOME LOAN OWNER TRUST
Mortgage Pass-Through Certificates
Record Date: 11/30/1998
Distribution Date: 12/28/1998
LFH Series: 1998-1
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 53184QAA7 SEQ 6.45000% 72,581,895.11 390,127.69 2,213,555.05
A-2 53184QAB5 SEQ 6.22000% 35,000,000.00 181,416.67 0.00
A-3 53184QAC3 SEQ 6.27000% 34,000,000.00 177,650.00 0.00
A-4 53184QAD1 SEQ 6.30000% 44,000,000.00 231,000.00 0.00
A-5 53184QAE9 SEQ 6.70000% 22,293,000.00 124,469.25 0.00
A-6 53184QAF6 SEQ 6.20000% 23,477,000.00 121,297.83 0.00
A-7 53184QAH2 SEQ 5.34234% 117,129,987.76 573,602.53 1,834,973.87
A-8 53184QAJ8 SEQ 6.08000% 41,308,000.00 209,293.87 0.00
A-IO 53184QAK5 IO 2.00000% 0.00 206,539.95 0.00
F-IO 53184QAG4 IO 6.00000% 0.00 117,385.00 0.00
OC1 LFH981OC1 SEQ 0.00000% 709,015.74 0.00 0.00
OC2 LFH981OC2 SEQ 0.00000% 767,457.63 0.00 0.00
R-I LFH9801R1 RES 0.00000% 0.00 0.00 0.00
R-II LFH9801R2 RES 0.00000% 0.00 0.00 0.00
Totals 391,266,356.24 2,332,782.79 4,048,528.92
</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 70,368,340.06 2,603,682.74 0.00
A-2 0.00 35,000,000.00 181,416.67 0.00
A-3 0.00 34,000,000.00 177,650.00 0.00
A-4 0.00 44,000,000.00 231,000.00 0.00
A-5 0.00 22,293,000.00 124,469.25 0.00
A-6 0.00 23,477,000.00 121,297.83 0.00
A-7 0.00 115,295,013.89 2,408,576.40 0.00
A-8 0.00 41,308,000.00 209,293.87 0.00
A-IO 0.00 0.00 206,539.95 0.00
F-IO 0.00 0.00 117,385.00 0.00
OC1 0.00 1,138,361.25 0.00 0.00
OC2 0.00 936,856.66 0.00 0.00
R-I 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
Totals 0.00 387,816,571.86 6,381,311.71 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 76,000,000.00 72,581,895.11 0.00 2,213,555.05 0.00 0.00
A-2 35,000,000.00 35,000,000.00 0.00 0.00 0.00 0.00
A-3 34,000,000.00 34,000,000.00 0.00 0.00 0.00 0.00
A-4 44,000,000.00 44,000,000.00 0.00 0.00 0.00 0.00
A-5 22,293,000.00 22,293,000.00 0.00 0.00 0.00 0.00
A-6 23,477,000.00 23,477,000.00 0.00 0.00 0.00 0.00
A-7 123,922,000.00 117,129,987.76 0.00 1,834,973.87 0.00 0.00
A-8 41,308,000.00 41,308,000.00 0.00 0.00 0.00 0.00
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
F-IO 0.00 0.00 0.00 0.00 0.00 0.00
OC1 0.00 709,015.74 0.00 0.00 0.00 0.00
OC2 0.00 767,457.63 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
Totals 400,000,000.00 391,266,356.24 0.00 4,048,528.92 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 2,213,555.05 70,368,340.06 0.92589921 2,213,555.05
A-2 0.00 35,000,000.00 1.00000000 0.00
A-3 0.00 34,000,000.00 1.00000000 0.00
A-4 0.00 44,000,000.00 1.00000000 0.00
A-5 0.00 22,293,000.00 1.00000000 0.00
A-6 0.00 23,477,000.00 1.00000000 0.00
A-7 1,834,973.87 115,295,013.89 0.93038374 1,834,973.87
A-8 0.00 41,308,000.00 1.00000000 0.00
A-IO 0.00 0.00 0.00000000 0.00
F-IO 0.00 0.00 0.00000000 0.00
OC1 0.00 1,138,361.25 0.00000000 0.00
OC2 0.00 936,856.66 0.00000000 0.00
R-I 0.00 0.00 0.00000000 0.00
R-II 0.00 0.00 0.00000000 0.00
Totals 4,048,528.92 387,816,571.86 0.96954143 4,048,528.92
</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 76,000,000.00 955.02493566 0.00000000 29.12572434 0.00000000
A-2 35,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 34,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4 44,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5 22,293,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-6 23,477,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-7 123,922,000.00 945.19123126 0.00000000 14.80749076 0.00000000
A-8 41,308,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
F-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
OC1 0.00 709015.74000000 0.00000000 0.00000000 0.00000000
OC2 0.00 767457.63000000 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
<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 29.12572434 925.89921132 0.92589921 29.12572434
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 0.00000000 1,000.00000000 1.00000000 0.00000000
A-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-7 0.00000000 14.80749076 930.38374050 0.93038374 14.80749076
A-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
F-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC1 0.00000000 0.00000000 1,138,361.2500000 0.00000000 0.00000000
OC2 0.00000000 0.00000000 936,856.66000000 0.00000000 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
<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 76,000,000.00 6.45000% 72,581,895.11 390,127.69 0.00 0.00
A-2 35,000,000.00 6.22000% 35,000,000.00 181,416.67 0.00 0.00
A-3 34,000,000.00 6.27000% 34,000,000.00 177,650.00 0.00 0.00
A-4 44,000,000.00 6.30000% 44,000,000.00 231,000.00 0.00 0.00
A-5 22,293,000.00 6.70000% 22,293,000.00 124,469.25 0.00 0.00
A-6 23,477,000.00 6.20000% 23,477,000.00 121,297.83 0.00 0.00
A-7 123,922,000.00 5.34234% 117,129,987.76 573,602.53 0.00 0.00
A-8 41,308,000.00 6.08000% 41,308,000.00 209,293.87 0.00 0.00
A-IO 0.00 2.00000% 123,924,000.00 206,540.00 0.00 0.00
F-IO 0.00 6.00000% 23,477,000.00 117,385.00 0.00 0.00
OC1 0.00 0.00000% 709,015.74 0.00 0.00 0.00
OC2 0.00 0.00000% 767,457.63 0.00 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
Totals 400,000,000.00 2,332,782.84 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 0.00 390,127.69 0.00 70,368,340.06
A-2 0.00 0.00 181,416.67 0.00 35,000,000.00
A-3 0.00 0.00 177,650.00 0.00 34,000,000.00
A-4 0.00 0.00 231,000.00 0.00 44,000,000.00
A-5 0.00 0.00 124,469.25 0.00 22,293,000.00
A-6 0.00 0.00 121,297.83 0.00 23,477,000.00
A-7 0.00 0.00 573,602.53 0.00 115,295,013.89
A-8 0.00 0.00 209,293.87 0.00 41,308,000.00
A-IO 0.00 0.00 206,539.95 0.00 123,924,000.00
F-IO 0.00 0.00 117,385.00 0.00 23,477,000.00
OC1 0.00 0.00 0.00 0.00 1,138,361.25
OC2 0.00 0.00 0.00 0.00 936,856.66
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 2,332,782.79 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 76,000,000.00 6.45000% 955.02493566 5.13325908 0.00000000 0.00000000
A-2 35,000,000.00 6.22000% 1000.00000000 5.18333343 0.00000000 0.00000000
A-3 34,000,000.00 6.27000% 1000.00000000 5.22500000 0.00000000 0.00000000
A-4 44,000,000.00 6.30000% 1000.00000000 5.25000000 0.00000000 0.00000000
A-5 22,293,000.00 6.70000% 1000.00000000 5.58333333 0.00000000 0.00000000
A-6 23,477,000.00 6.20000% 1000.00000000 5.16666652 0.00000000 0.00000000
A-7 123,922,000.00 5.34234% 945.19123126 4.62873848 0.00000000 0.00000000
A-8 41,308,000.00 6.08000% 1000.00000000 5.06666675 0.00000000 0.00000000
A-IO 0.00 2.00000% 1000.00000000 1.66666667 0.00000000 0.00000000
F-IO 0.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000
OC1 0.00 0.00000% 709015.74000000 0.00000000 0.00000000 0.00000000
OC2 0.00 0.00000% 767457.63000000 0.00000000 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
<FN>
All denomination 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 5.13325908 0.00000000 925.89921132
A-2 0.00000000 0.00000000 5.18333343 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.22500000 0.00000000 1000.00000000
A-4 0.00000000 0.00000000 5.25000000 0.00000000 1000.00000000
A-5 0.00000000 0.00000000 5.58333333 0.00000000 1000.00000000
A-6 0.00000000 0.00000000 5.16666652 0.00000000 1000.00000000
A-7 0.00000000 0.00000000 4.62873848 0.00000000 930.38374050
A-8 0.00000000 0.00000000 5.06666675 0.00000000 1000.00000000
A-IO 0.00000000 0.00000000 1.66666626 0.00000000 1000.00000000
F-IO 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000
OC1 0.00000000 0.00000000 0.00000000 0.00000000 1138361.25000000
OC2 0.00000000 0.00000000 0.00000000 0.00000000 936856.66000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<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-IO IO 2.00000% 41,308,000.00 41,308,000.00 0.00 0.00 100.00000000%
A-IO IO 1.00000% 41,308,000.00 41,308,000.00 0.00 0.00 100.00000000%
A-IO IO 3.00000% 41,308,000.00 41,308,000.00 0.00 0.00 100.00000000%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 6,599,379.96
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 6,599,379.96
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 218,068.25
Payment of Interest and Principal 6,381,311.71
Total Withdrawals (Pool Distribution Amount) 6,599,379.96
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 162,831.13
Trustee Fee 6,513.39
MBIA fee group 1 28,918.99
MBIA fee group 2 19,804.74
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 218,068.25
</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
</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 57 4,264,517.71 1.368876% 1.100963%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 44 3,353,734.84 1.056676% 0.865828%
REO 0 0.00 0.000000% 0.000000%
Totals 101 7,618,252.55 2.425552% 1.966790%
</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 0.00
</TABLE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current Next
Original $ Original % Current $ Current % Class% Prepayment%
<S> <C> <C> <C> <C> <C> <C> <C>
Class OC1 0.00 0.00000000% 936856.66 0.24186655% 0.293889% 0.000000%
Class OC2 0.00 0.00000000% 0.00 0.00000000% 0.241867% 0.000000%
Class F-IO 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
Class R-II 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 9.671312%
Weighted Average Net Coupon 9.171312%
Weighted Average Pass-Through Rate 9.001697%
Weighted Average Maturity(Stepdown Calculation ) 357
Beginning Scheduled Collateral Loan Count 3,424
Number Of Loans Paid In Full (740)
End Scheduled Collateral Loan Count 4,164
Beginning Scheduled Collateral Balance 313,310,017.63
Ending Scheduled Collateral Balance 387,344,455.22
Ending Actual Collateral Balance at 30-Nov-1998 387,599,045.45
Monthly P &I Constant 3,421,721.87
Ending Scheduled Balance for Premium Loans 77,202,168.89
Scheduled Principal 300,697.93
Unscheduled Principal 3,149,104.40
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Capitalized Interest Requirement - Group 0.00
1
Capitalized Interest Requirement - Group 0.00
2
Prefunding Account Balance - Group 1 0.00
Prefunding Account Balance - Group 2 0.00
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2
Collateral Description Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 9.721888 9.382188
Weighted Average Net Rate 9.201888 8.862188
Weighted Average Maturity 357.00 357.00
Beginning Loan Count 2,367 1,057
Loans Paid In Full (467) (273)
Ending Loan Count 2,834 1,330
Beginning Scheduled Balance 189,623,952.23 123,686,065.40
Ending scheduled Balance 229,960,187.42 157,384,267.80
Record Date 11/30/1998 11/30/1998
Principal And Interest Constant 2,090,060.92 1,331,660.95
Scheduled Principal 212,566.67 88,131.26
Unscheduled Principal 1,571,642.82 1,577,461.58
Scheduled Interest 1,877,494.25 1,243,529.69
Servicing Fees 96,560.17 66,270.78
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 3,862.40 2,650.85
Pool Insurance Fee 0.00 0.00
Spread Fee 1 0.00 0.00
Spread Fee 2 0.00 0.00
Spread Fee 3 0.00 0.00
Net Interest 1,777,071.68 1,174,608.06
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Group ID 1 2
Required Overcollateralization Amount 0.00 0.00
Overcollateralization Increase Amount 429,345.45 169,380.91
Overcollateralization Reduction Amount 0.00 0.00
Specified Overcollateralization Amount 6,456,175.00 7,022,275.00
Overcollateralization Amount 821,847.25 781,253.79
Overcollateralization Deficiency Amount 6,063,673.20 6,410,402.12
Base Overcollateralization Amount 0.00 0.00
Extra Principal Distribution Amount 429,345.45 169,380.91
Excess Cash Amount 429,345.45 169,380.91
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C> <C> <C> <C> <C> <C>
Group
30 Days 60 Days 90 + Days Foreclosure REO Bankruptcy
1 Principal Balance 3,014,050.99 1,161,055.54 621,606.80 0.00 0.00 0.00
Percentage Of Balanc 1.311% 0.505% 0.270% 0.000% 0.000% 0.000%
Loan Count 45 17 9 0 0 0
Percentage Of Loans 1.588% 0.600% 0.318% 0.000% 0.000% 0.000%
2 Principal Balance 1,593,787.29 1,023,458.84 478,249.57 0.00 0.00 0.00
Percentage Of Balanc 1.013% 0.650% 0.304% 0.000% 0.000% 0.000%
Loan Count 18 9 6 0 0 0
Percentage Of Loans 1.353% 0.677% 0.451% 0.000% 0.000% 0.000%
</TABLE>
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