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Previous: DILLARD ASSET FUNDING CO, S-3/A, 1999-06-02 |
Next: ADVANTA MORTGAGE LOAN TRUST 1998-4B, 8-K, 1999-06-02 |
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: May 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: 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 April, 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 April, 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 April, 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/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
May 28, 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. 620,713,013. 2,806,355 10,221,615 13,027,970.85
A Certificate -
Totals 650,000,000. 620,713,013. 2,806,355 10,221,615 13,027,970.85
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 610,491,397. 5.612500% 5.622500%
A Certificate NA NA
Totals 610,491,397.81
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 954.943097 4.317470 15.725562 20.043032 939.217535
A 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 A Principal Balan 12,854,055.01 3,644,978.28 394,392.59 2,762,715.31 323,669.82
% of Pool Balan 2.03780% 0.57785% 0.06252% 0.43798% 0.05131%
Number of Loans 234 61 7 38 6
% of Loans 2.35011% 0.61263% 0.07030% 0.38164% 0.06026%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 5,001,288.82
% of Pool Balan 0.79287%
Number of Loans 99
% of Loans 0.99428%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 638,977,218.23
Prefunding 0.00
Principal Reduction 8,195,721.04
Ending Aggregate Mortgage Loan Balance 630,781,497.19
Beginning Aggregate Mortgage Loan Count 10085
Ending Aggregate Mortgage Loan Count 9957
Current Weighted Average Coupon Rate 9.689192%
Next Weighted Average Coupon Rate 9.681385%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 886,876.46
Curtailments 0.00
Prepayments 7,308,844.58
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 8,195,721.04
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 266,240.50
Less: Amounts to Cover Interest Shortfalls 5,311.13
Less: Delinquent Service Fees 51,132.14
Collected Servicing Fees for Current Period: 209,797.23
Advanced Principal N/A
Advanced Interest 1,010,037.61
</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 7,308,84 8,195,721 -
-
Total 7,308,84 8,195,721 -
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 18,264,205.18 2,025,894.20 0.00 20,290,099.38
Total 18,264,205. 2,025,89 0.00 20,290,099.38
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 N/A
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 348,373.00
Cumulative Number of Mortgage loans repurchased to date 11
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 4,098,140.89
Principal Collected: 8,195,721.04
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 1,010,037.61
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 10,150.95
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: 13,314,050.49
LESS:
Servicing Fees (including PPIS): 215,108.36
Dealer Reserve: -
Indenture Trustee Fees: 3,727.37
Owner Trustee Fees: 0
Insurance Premiums: 67,243.91
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 286,079.64
Total Available Funds: 13,027,970.85
</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. 337,561,278. 1,526,175 5,702,68 7,228,857.78
B Certificate -
Totals 350,000,000. 337,561,278. 1,526,175 5,702,68 7,228,857.78
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 331,858,596. 5.612500% 5.622500%
B Certificate NA NA
Totals 331,858,596.37
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 964.460796 4.360501 16.293378 20.653879 948.167418
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 8,280,878.15 1,735,146.90 151,376.94 1,426,191.08 0.00
% of Pool Balan 2.41995% 0.50707% 0.04424% 0.41678% 0.00000%
Number of Loans 124 25 4 18 0
% of Loans 2.74945% 0.55432% 0.08869% 0.39911% 0.00000%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 3,503,942.22
% of Pool Balan 1.02397%
Number of Loans 61
% of Loans 1.35255%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 346,800,208.23
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 4,608,592.97
Ending Aggregate Mortgage Loan Balance 342,191,615.26
Beginning Aggregate Mortgage Loan Count 4559
Ending Aggregate Mortgage Loan Count 4510
Current Weighted Average Coupon Rate 9.680704%
Next Weighted Average Coupon Rate 9.675360%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 427,836.58
Curtailments 0.00
Prepayments 4,180,756.39
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 4,608,592.97
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 144,500.09
Less: Amounts to Cover Interest Shortfalls 2,629.46
Less: Delinquent Service Fees 25,550.80
Collected Servicing Fees for Current Period: 116,319.83
Advanced Principal N/A
Advanced Interest 507,292.00
</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 4,180,75 4,608,592 -
- -
Total 4,180,75 4,608,592 -
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 9,238,929.57 1,094,089.32 0.00 10,333,018.89
Total 9,238,929 1,094,08 0.00 10,333,018.89
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 N/A
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 0.00
Cumulative Number of Mortgage loans repurchased to date 7
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 2,264,882.31
Principal Collected: 4,608,592.97
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 507,292.00
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 5,631.93
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: 7,386,399.21
LESS:
Servicing Fees (including PPIS): 118,949.29
Dealer Reserve: -
Indenture Trustee Fees: 2,023.00
Owner Trustee Fees: 0
Insurance Premiums: 36,569.14
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 157,541.43
Total Available Funds: 7,228,857.78
</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. 94,557,983 416,08 2,044,67 2,460,760.03
C Certificate -
Totals 100,000,000. 94,557,983 416,08 2,044,67 2,460,760.03
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 92,513,311. 5.462500% 5.472500%
C Certificate NA NA
Totals 92,513,311.41
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 945.579835 4.160880 20.446721 24.607600 925.133114
C 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 C Principal Balan 2,786,771.39 946,356.91 108,347.05 355,943.58 52,200.00
% of Pool Balan 2.88067% 0.97824% 0.11200% 0.36794% 0.05396%
Number of Loans 32 10 1 5 1
% of Loans 3.07988% 0.96246% 0.09625% 0.48123% 0.09625%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 2,022,200.66
% of Pool Balan 2.09034%
Number of Loans 23
% of Loans 2.21367%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 98,462,977.82
Prefunding N/A
Principal Reduction 1,722,519.82
Ending Aggregate Mortgage Loan Balance 96,740,458.00
Beginning Aggregate Mortgage Loan Count 1056
Ending Aggregate Mortgage Loan Count 1039
Current Weighted Average Coupon Rate 9.629666%
Next Weighted Average Coupon Rate 9.620722%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 53,110.86
Curtailments 288.04
Prepayments 1,669,120.92
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 1,722,519.82
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 41,026.24
Less: Amounts to Cover Interest Shortfalls 397.19
Less: Delinquent Service Fees 7,630.30
Collected Servicing Fees for Current Period: 32,998.75
Advanced Principal N/A
Advanced Interest 145,749.45
</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 1,669,12 1,722,519 -
- -
Total 1,669,12 1,722,519 -
Applied
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 3,904,994.34 322,152.25 0.00 4,227,146.59
Total 3,904,994 322,15 0.00 4,227,146.59
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 N/A
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 54,728.00
Cumulative Number of Mortgage loans repurchased to date 3
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 636,758.23
Principal Collected: 1,722,519.82
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 145,749.45
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 1,916.58
Sum of the Above Amounts: 2,506,944.08
LESS:
Servicing Fees (including PPIS): 33,395.94
Dealer Reserve: -
Indenture Trustee Fees: 574.37
Owner Trustee Fees: 0
Insurance Premiums: 12,213.74
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 46,184.05
Total Available Funds: 2,460,760.03
</TABLE>
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