SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
[X] Annual report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the period from September 25, 1998
(Commencement of Operations) to December 31, 1998
[ ] Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the transition period from to
Commission File Number 333-07569
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(Exact name of registrant as specified in its charter)
Delaware 13-5674085
(State or other jurisdiction of I.R.S. Employer
incorporation or organization) Identification No.)
250 Vesey Street, World Financial Center,
North Tower, 17th Floor
New York, New York 10281-1310
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code : (212) 449-1000
MERRILL LYNCH MORTGAGE INVESTORS, INC.
FIRST FRANKLIN MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1998-FF2
(Title of each class of securities covered by this Form)
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K/A or any
amendment to this Form 10-K/A. [X]
Documents incorporated by reference: None
Page 1 of 5
This report consists 9 of consecutively numbered pages.
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Amendment Number 1 of 1
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MERRILL LYNCH MORTGAGE INVESTORS, INC.
FIRST FRANKLIN MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1998-FF2
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PART IV
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a) The following documents are filed as part of this report:
(1) Financial Statements:
Omitted.
(2) Financial Statement Schedules:
Omitted.
(3) Exhibits:
Annual Servicer Statement of Compliance, filed as Exhibit 99.1 hereto.
Annual Statement of Independent Accountants Report for the Servicer,
filed as Exhibit 99.2 hereto.
(b) Reports on Form 8-K: The following Current Reports on Form 8-K were
filed by the Registrant during the last quarter of 1998.
Current Reports on Form 8-K, dated October 20, 1998, November 20,
1998, and December 21, 1998, were filed for the purpose of filing the
Monthly Statement sent to the Holders of the Offered Certificates for
payments made on the same dates. The items reported in such Current Report
were Item 5 (Other Events).
(c) Exhibits to this report are listed in Item (14)(a)(3) above.
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SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) 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.
THE CHASE MANHATTAN BANK,
not in its individual capacity but solely
as Trustee under the Agreement referred
to herein
Date: November 5, 1999 By: /s/Thomas Provenzano
-----------------------------
Thomas Provenzano
Vice President
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EXHIBIT INDEX
Exhibit Description Page
99.1 Servicer's Annual Statement of Compliance 6
99.2 Servicer's Annual Independent Accountant's Report 8
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EXHIBIT 99.1 - Servicer's Annual Statement of Compliance
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Litton Loan Servicing LP Telephone: 713/960-9676
5373 West Alabama, Suite 600 Fax: 713/960-0539
Houston, Texas 77056
April 9, 1999
Structured Finance Services
Chase Manhattan Bank
450 W. 33rd Street
New York, NY 10001
Subject: Mortgage Loan Asset Backed Certificates, Series 1998-FF2; and the
Pooling and Servicing Agreement Dated as of September 1, 1998 Between Merrill
Lynch Mortgage Investors, Inc., Litton Loan Servicing, Inc., and The Chase
Manhattan Bank
To Whom It May Concern:
The undersigned officer of Litton Loan Servicing LP (successor in interest to
Litton Loan Servicing, Inc.) certifies that a review of the servicing activity
for the year ended December 31, 1998 has been completed and that there were no
defaults or exceptions to the requirements of the subject agreement between the
above-listed parties. Litton Loan Servicing LP hereby certifies that:
1. All ad valorem taxes have been paid when due and without penalty to the
trust.
2. All assessments and ground rents of whatsoever kind or nature have been paid
so as to prevent their taking priority to the purchase money lien or lien to
which the trust is entitled.
3. All casualty insurance has been paid without lapse in coverage and in an
amount sufficient to prevent the application of a co-insurance clause.
4. Flood insurance as required by the National Flood Insurance Act of 1994,
P.L. 103-325 $ 511, if any, has been maintained without lapse.
5. Errors and Omissions Insurance is in force in amounts sufficient to meet
the requirements of Federal National Mortgage Association, Federal Home Loan
Mortgage Corporation, and the terms of the subject agreement.
6. Litton Loan Servicing LP has timely filed the required IRS informational
returns including the forms 1098, 1099(A), and those required by code sections
6050(h)(j)(p) for the year ended December 31, 1998.
7. Litton Loan Servicing LP has not committed any act or omitted to act in
any manner that would cause the trust to lose the REMIC tax treatment.
8. All other terms and requirements of the Servicing Agreement between the
above parties have been complied with except as noted on the attachment to this
letter, if any.
Sincerely,
Litton Loan Servicing LP
By: /s/ Janice McClure
Janice McClure
Senior Vice President
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EXHIBIT 99.2 - Servicer's Annual Independent Accountant's Report
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Deloitte & Touche, LLP Telephone: 713/982-2000
Suite 2300 Facsimile: 713/892-2001
333 Clay Street
Houston, Texas 77002-4196
INDEPENDENT AUDITORS' REPORT
To the Board of Directors of
Litton Loan Servicing LP:
We have examined management's assertion about Litton Loan Servicing LP's
(the "Company") compliance with the minimum servicing standards identified in
the Mortgage Bankers Association of America's Uniform Single Attestation Program
for Mortgage Bankers as of and for the year ended December 31, 1998, included in
the accompanying management assertion. Management is responsible for the
Company's compliance with those minimum servicing standards. Our responsibility
is to express an opinion on management's assertion about the Company's
compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with minimum
servicing standards and performing such other procedures as we considered
necessary in the circumstances. We believe that our examination provides a
reasonable basis for our opinion. Our examination does not provide a legal
determination of the Company's compliance with the minimum servicing standards.
In our opinion, Management's assertion that the Company complied with the
aforementioned minimum servicing standards as of and for the year ended December
31, 1998 is fairly stated, in all material respects.
/s/ Deloitte & Touche, LLP
Houston, Texas January 5, 1999
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