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Previous: INVITROGEN CORP, S-8, 1999-09-03 |
Next: ADVANTA MORTGAGE LOAN TRUST 1998-4B, 8-K, 1999-09-03 |
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: August 25, 1999
ADVANTA Mortgage Loan Trust 1998-4A, 1998-4B, 1998-4C
New York 333-52351-02 "Pending"
333-52351-03
333-52351-04
c/o ADVANTA Mortgage Corp., USA
Attn: H. John Berens
10790 Rancho Bernardo Road
San Diego, CA 92127
(858) 676-3099
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the July, 1999 Monthly Period of the Trust in respect of
the Mortgage Backed Notes, Series 1998-4, Class A, Class B
and Class C (the "Certificates") issued by the Registrant and the
performance of the Trust (including distributions of principal
and interest, delinquent balances of Home 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 November 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 July, 1999 Monthly
Period relating to the Mortgage Backed Notes
Series 1998-4, Class A, Class B, and Class C
issued by the ADVANTA Mortgage Loan
Trust 1998-4A, 1998-4B, 1998-4C.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the July, 1999 Monthly
Period relating to the Mortgage Backed Notes, Series
1998-4, Class A, Class B, and Class C issued by the
ADVANTA Mortgage Loan Trust 1998-4A, 1998-4B, 1998-4C.
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 1998-4A, 19984-B, 1998-4C.
BY: ADVANTA Mortgage Corp., USA
BY: /s/ H. John Berens
H. John Berens
Senior Vice President
Advanta Mortgage
August 31, 1999
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1998-4A
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
A 650,000,000 589,180,922 2,879,00 9,955,2 12,834,244.29
A Certificate 801,8 801,810.33
Totals 650,000,000 589,180,922 3,680,81 9,955,2 13,636,054.62
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 579,225,685. 5.863750% 6.038750%
A Certificate NA NA
Totals 579,225,685.85
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 906.432188 4.429243 15.315748 19.744991 891.116440
A Certificate 0.000000 1.233554 0.000000 1.233554 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 Bankruptcy REO
<S> <C> <C> <C> <C> <C>
Trust A Principal Balan 13,790,995.06 3,606,857.85 727,856.53 4,068,313.67 964,428.30
% of Pool Balan 2.28338% 0.59719% 0.12051% 0.67359% 0.15968%
Number of Loans 255 71 17 66 18
% of Loans 2.66904% 0.74314% 0.17794% 0.69081% 0.18840%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 8,719,579.07
% of Pool Balan 1.44371%
Number of Loans 153
% of Loans 1.60142%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 612,984,428.52
Prefunding 0.00
Principal Reduction 9,012,522.87
Ending Aggregate Mortgage Loan Balance 603,971,905.65
Beginning Aggregate Mortgage Loan Count 9684
Ending Aggregate Mortgage Loan Count 9554
Current Weighted Average Coupon Rate 9.662127%
Next Weighted Average Coupon Rate 9.665072%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 1,427,973.93
Curtailments (9,546.00)
Prepayments 7,594,094.94
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 9,012,522.87
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 255,410.18
Less: Amounts to Cover Interest Shortfalls 5,510.19
Less: Delinquent Service Fees 56,020.87
Collected Servicing Fees for Current Period: 193,879.12
Advanced Principal N/A
Advanced Interest 1,100,602.47
</TABLE>
<TABLE>
<CAPTION>
Other Scheduled Interest Available Available Funds
Prepayment Unscheduled Principal Carry Funds Cap Cap Carry
Principal Principal Distribution Forward Current Forward
Class Distributed Distributed Amount Amount Amount Amount
<S> <C> <C> <C> <C> <C> <C>
Class A 7,594,0 (9 9,012,52 -
-
Total 7,594,0 (9 9,012,52 -
Applied
Realized Loss
Amount
<S> <C> <C> <C> <C> <C> <C>
Class A -
-
Total -
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Has a Remaining Over- Accelerated Extra Over
Trigger Event Pre-Funded Collateral Principal Principal Collateral
Occurred Amount Amount Distributed Distributed Amount
<S> <S> <C> <C> <C> <C> <C>
Trust A NO 0.00 23,803,506.41 942,713.39 0.00 24,746,219.80
Total 23,803,506 942, 0.00 24,746,219.80
Specified Over-
Over- Collateral
Collateral Deficit
Amount Amount
<S> <S> <S>
Trust A 24,746,219.80 0.00
Total 24,746,219.80 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <S> <C> <C> <C> <C> <C>
Trust A Insured Payment 0.00
Pool Rolling six month delinquency rate 0.010254
Pool Cumulative Realized Losses - Average of 12 preceeding remittance periods 0.00%
Pool Cumulative Realized Losses - Percentage of the original aggregate loan balance 0.00%
Book Value of REO loans 1,058,112.00
Cumulative Number of Mortgage loans repurchased to date 11
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 3,778,987.88
Principal Collected: 9,012,522.87
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 1,100,602.47
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 10,734.38
Capitalized Interest Requirement: -
Capitalized Interest Fund Earnings 0.00
Capitalized Interest Account 0.00
Investment Earnings on Pre-Funding Account 0.00
Remaining Pre-Funding Account: -
Sum of the Above Amounts: 13,902,847.60
LESS:
Servicing Fees (including PPIS): 199,389.31
Dealer Reserve: -
Indenture Trustee Fees: 3,575.74
Owner Trustee Fees: 0
Insurance Premiums: 63,827.93
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 266,792.98
Total Available Funds: 13,636,054.62
</TABLE>
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1998-4B
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
B 350,000,000 320,090,826 1,564,11 7,016,6 8,580,770.88
B Certificate -
Totals 350,000,000 320,090,826 1,564,11 7,016,6 8,580,770.88
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 313,074,166. 5.863750% 6.038750%
B Certificate NA NA
Totals 313,074,166.25
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 914.545219 4.468887 20.047601 24.516488 894.497618
B Certificate 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 Bankruptcy REO
<S> <C> <C> <C> <C> <C>
Trust B Principal Balan 9,192,680.09 2,478,785.63 1,030,969.87 2,041,167.15 430,453.29
% of Pool Balan 2.81763% 0.75977% 0.31600% 0.62563% 0.13194%
Number of Loans 143 39 17 29 10
% of Loans 3.31325% 0.90361% 0.39388% 0.67192% 0.23170%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 4,992,856.35
% of Pool Balan 1.53035%
Number of Loans 80
% of Loans 1.85357%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 332,327,592.93
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 6,071,767.95
Ending Aggregate Mortgage Loan Balance 326,255,824.98
Beginning Aggregate Mortgage Loan Count 4389
Ending Aggregate Mortgage Loan Count 4316
Current Weighted Average Coupon Rate 9.667584%
Next Weighted Average Coupon Rate 9.663181%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 437,495.43
Curtailments (85,348.04)
Prepayments 5,719,620.56
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 6,071,767.95
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 138,469.83
Less: Amounts to Cover Interest Shortfalls 3,597.48
Less: Delinquent Service Fees 27,840.89
Collected Servicing Fees for Current Period: 107,031.46
Advanced Principal N/A
Advanced Interest 554,114.02
</TABLE>
<TABLE>
<CAPTION>
Other Scheduled Interest Available Available Funds
Prepayment Unscheduled Principal Carry Funds Cap Cap Carry
Principal Principal Distribution Forward Current Forward
Class Distributed Distributed Amount Amount Amount Amount
<S> <C> <C> <C> <C> <C> <C>
Class B 5,719,6 (85, 6,071,76 -
- -
Total 5,719,6 (85, 6,071,76 -
Applied
Realized Loss
Amount
<S> <C> <C> <C> <C> <C> <C>
Class B -
-
Total -
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Has a Remaining Over- Accelerated Extra Over
Trigger Event Pre-Funded Collateral Principal Principal Collateral
Occurred Amount Amount Distributed Distributed Amount
<S> <S> <C> <C> <C> <C> <C>
Trust B NO 0.00 12,236,766.29 944,892.44 0.00 13,181,658.73
Total 12,236,766 944, 0.00 13,181,658.73
Specified Over-
Over- Collateral
Collateral Deficit
Amount Amount
<S> <S> <S>
Trust B 13,324,873.10 0.00
Total 13,324,873.10 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <S> <C> <C> <C> <C> <C>
Trust B Insured Payment 0.00
Pool Rolling six month delinquency rate 0.01
Pool Cumulative Realized Losses - Average of 12 preceeding remittance periods 0.00%
Pool Cumulative Realized Losses - Percentage of the original aggregate loan balance 0.00%
Book Value of REO loans 460,698.00
Cumulative Number of Mortgage loans repurchased to date 8
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 2,095,382.65
Principal Collected: 6,071,767.95
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 554,114.02
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 6,750.29
Capitalized Interest Requirement: 0.00
Capitalized Interest Fund Earnings 0.00
Capitalized Interest Account 0.00
Investment Earnings on Pre-Funding Account 0.00
Remaining Pre-Funding Account: -
Sum of the Above Amounts: 8,728,014.91
LESS:
Servicing Fees (including PPIS): 110,628.94
Dealer Reserve: -
Indenture Trustee Fees: 1,938.58
Owner Trustee Fees: 0
Insurance Premiums: 34,676.51
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 147,244.03
Total Available Funds: 8,580,770.88
</TABLE>
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1998-4C
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
C 100,000,000 89,003,49 423,7 1,498,1 1,921,983.15
C Certificate 182,2 182,209.61
Totals 100,000,000 89,003,49 605,9 1,498,1 2,104,192.76
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 87,505,302 5.713750% 5.888750%
C Certificate NA NA
Totals 87,505,302.86
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 890.034996 4.237865 14.981967 19.219832 875.053029
C Certificate 0.000000 0.280322 0.000000 0.280322 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 Bankruptcy REO
<S> <C> <C> <C> <C> <C>
Trust C Principal Balan 1,299,562.80 895,384.65 106,793.79 1,217,984.67 79,976.85
% of Pool Balan 1.40687% 0.96932% 0.11561% 1.31856% 0.08658%
Number of Loans 16 9 2 14 1
% of Loans 1.61290% 0.90726% 0.20161% 1.41129% 0.10081%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 2,949,122.74
% of Pool Balan 3.19265%
Number of Loans 33
% of Loans 3.32661%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 93,790,847.26
Prefunding N/A
Principal Reduction 1,418,459.20
Ending Aggregate Mortgage Loan Balance 92,372,388.06
Beginning Aggregate Mortgage Loan Count 1007
Ending Aggregate Mortgage Loan Count 992
Current Weighted Average Coupon Rate 9.608545%
Next Weighted Average Coupon Rate 9.610477%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 46,241.02
Curtailments 0.00
Prepayments 1,320,018.18
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 52,200.00
Other Principal 0.00
Less: Realized Losses (15,716.00)
Total Principal Reduction 1,402,743.20
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 39,079.52
Less: Amounts to Cover Interest Shortfalls 242.31
Less: Delinquent Service Fees 7,708.73
Collected Servicing Fees for Current Period: 31,128.48
Advanced Principal N/A
Advanced Interest 147,901.25
</TABLE>
<TABLE>
<CAPTION>
Other Scheduled Interest Available Available Funds
Prepayment Unscheduled Principal Carry Funds Cap Cap Carry
Principal Principal Distribution Forward Current Forward
Class Distributed Distributed Amount Amount Amount Amount
<S> <C> <C> <C> <C> <C> <C>
Class C 1,320,0 52 1,402,74 -
- -
Total 1,320,0 52 1,402,74 -
Unpaid
Realized Loss
Amount
<S> <C> <C> <C> <C> <C> <C>
Class C -
-
Total -
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Has a Over- Accelerated Extra Over
Trigger Event Collateral Principal Principal Collateral
Occurred Amount Distributed Distributed Amount
<S> <S> <C> <C> <C> <C>
Trust C NO 4,787,347.70 95,453.50 0.00 4,867,085.20
Total 4,787,34 95 0.00 4,867,085.20
Specified Over-
Over- Collateral
Collateral Deficit
Amount Amount
<S> <S> <S>
Trust B 4,867,085.20 0.00
Total 4,867,085.20 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <S> <C> <C> <C> <C> <C>
Trust C Insured Payment 0.00
Pool Rolling six month delinquency rate 0.02
Pool Cumulative Realized Losses - Average of 12 preceeding remittance periods 0.00%
Pool Cumulative Realized Losses - Percentage of the original aggregate loan balance 0.00%
Book Value of REO loans 88,365.00
Cumulative Number of Mortgage loans repurchased to date 3
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 595,384.64
Principal Collected: 1,366,259.20
Insurance Proceeds Received: -
Net Liquidation Proceeds: 36,484.00
Delinquency Advances on Mortgage Interest: 147,901.25
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 1,657.80
Sum of the Above Amounts: 2,147,686.89
LESS:
Servicing Fees (including PPIS): 31,370.79
Dealer Reserve: -
Indenture Trustee Fees: 547.11
Owner Trustee Fees: 0
Insurance Premiums: 11,496.29
Reimbursement of Delinquency Advances/Servici 79.94
Total Reductions to Available Funds Amount: 43,494.13
Total Available Funds: 2,104,192.76
</TABLE>
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