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Previous: GLOBALOCK CORP, 10QSB/A, 1999-12-01 |
Next: ADVANTA MORTGAGE LOAN TRUST 1998-4B, 8-K, 1999-12-01 |
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: November 26, 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 October 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 October 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 October 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
November 26, 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. 559,505,042 3,038,112 9,028,66 12,066,778.87
A Certificate 1,322,215 1,322,215.52
Totals 650,000,000. 559,505,042 4,360,327 9,028,66 13,388,994.39
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 550,476,376. 6.108750% 6.290000%
A Certificate NA NA
Totals 550,476,376.48
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 860.776989 4.674019 13.890256 18.564275 846.886733
A Certificate 0.000000 2.034178 0.000000 2.034178 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 12,765,908.91 4,245,890.73 973,744.26 6,763,717.06 1,673,155.18
% of Pool Balan 2.21930% 0.73813% 0.16928% 1.17584% 0.29087%
Number of Loans 241 73 24 113 31
% of Loans 2.64603% 0.80149% 0.26350% 1.24067% 0.34036%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 9,998,178.97
% of Pool Balan 1.73814%
Number of Loans 194
% of Loans 2.13000%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 584,251,262.77
Prefunding 0.00
Principal Reduction 9,028,666.49
Ending Aggregate Mortgage Loan Balance 575,222,596.28
Beginning Aggregate Mortgage Loan Count 9239
Ending Aggregate Mortgage Loan Count 9108
Current Weighted Average Coupon Rate 9.633334%
Next Weighted Average Coupon Rate 9.621357%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 1,012,354.23
Curtailments 0.00
Prepayments 7,845,325.35
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 170,986.91
Other Principal 0.00
Less: Realized Losses (33,395.32)
Total Principal Reduction 8,995,271.17
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 243,438.03
Less: Amounts to Cover Interest Shortfalls 4,458.45
Less: Delinquent Service Fees 60,204.93
Collected Servicing Fees for Current Period: 178,774.65
Advanced Principal N/A
Advanced Interest 1,169,622.10
</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 7,845,32 170,9 8,995,271 -
-
Total 7,845,32 170,9 8,995,271 -
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 24,746,219.80 33,395.32 0.00 24,746,219.80
Total 24,746,219. 33,3 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 0.01637
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 11
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 192.84
Unreimbursed Delinquent/Servicing Advances Paid Back to Certificateholder This Period 0.00
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 3,460,412.62
Principal Collected: 8,857,679.58
Insurance Proceeds Received: -
Net Liquidation Proceeds: 137,591.59
Delinquency Advances on Mortgage Interest: 1,169,622.10
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 11,883.48
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: 13,637,189.37
LESS:
Servicing Fees (including PPIS): 183,233.10
Non Recoverable Advance 678.42
Indenture Trustee Fees: 3,408.13
Owner Trustee Fees: 69.44
Insurance Premiums: 60,613.05
Reimbursement of Delinquency Advances/Servicin 192.84
Total Reductions to Available Funds Amount: 248,194.98
Total Available Funds: 13,388,994.39
</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. 304,260,124 1,652,132 4,371,01 6,023,143.73
B Certificate 757,07 757,078.02
Totals 350,000,000. 304,260,124 2,409,210 4,371,01 6,780,221.75
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 299,889,113. 6.108750% 6.290000%
B Certificate NA NA
Totals 299,889,113.32
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 869.314642 4.720379 12.488604 17.208982 856.826038
B Certificate 0.000000 1.164735 0.000000 1.164735 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 6,998,187.27 2,029,565.41 968,984.81 2,984,898.80 652,838.48
% of Pool Balan 2.23432% 0.64798% 0.30937% 0.95299% 0.20843%
Number of Loans 125 36 13 51 15
% of Loans 3.01568% 0.86852% 0.31363% 1.23040% 0.36188%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 8,028,352.72
% of Pool Balan 2.56322%
Number of Loans 116
% of Loans 2.79855%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 317,584,997.67
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 4,371,011.26
Ending Aggregate Mortgage Loan Balance 313,213,986.41
Beginning Aggregate Mortgage Loan Count 4,205
Ending Aggregate Mortgage Loan Count 4,145
Current Weighted Average Coupon Rate 9.641007%
Next Weighted Average Coupon Rate 9.631125%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 475,010.33
Curtailments (27,663.44)
Prepayments 3,923,664.37
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 4,371,011.26
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 132,327.08
Less: Amounts to Cover Interest Shortfalls 1,866.58
Less: Delinquent Service Fees 31,234.08
Collected Servicing Fees for Current Period: 99,226.44
Advanced Principal N/A
Advanced Interest 613,711.51
</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 3,923,66 (27, 4,371,011 -
- -
Total 3,923,66 (27, 4,371,011 -
Unpaid
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 13,324,873.10 0.00 0.00 13,324,873.10
Total 13,324,873. 0.00 13,324,873.10
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 0.02
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 0.00%
Cumulative Number of Mortgage loans repurchased to date 8
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 3765.37
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 1,906,587.01
Principal Collected: 4,371,011.26
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 613,711.51
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 6,019.92
Capitalized Interest Requirement: 0.00
Capitalized Interest Account Earnings 0.00
Capitalized Interest Account 0.00
Reversal of Realized Loss Amount 15,103.21
Unreimbursed Delq/Servicing Advances Paid Back 3,765.37
Sum of the Above Amounts: 6,916,198.28
LESS:
Servicing Fees (including PPIS): 101,093.00
Non-Recoverable Advance -
Indenture Trustee Fees: 1,852.58
Owner Trustee Fees: 69.44
Insurance Premiums: 32,961.51
Reimbursement of Delinquency Advances/Servicin -
Total Reductions to Available Funds Amount: 135,976.53
Total Available Funds: 6,780,221.75
</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. 83,692,96 443,29 2,013,53 2,456,825.23
C Certificate 217,60 217,600.42
Totals 100,000,000. 83,692,96 660,89 2,013,53 2,674,425.65
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 81,679,430. 5.958750% 6.140000%
C Certificate NA NA
Totals 81,679,430.39
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 836.929619 4.432937 20.135315 24.568252 816.794304
C Certificate 0.000000 0.334770 0.000000 0.334770 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 1,895,360.47 908,304.60 69,564.54 1,460,927.37 496,726.91
% of Pool Balan 2.18999% 1.04950% 0.08038% 1.68803% 0.57394%
Number of Loans 24 10 1 17 5
% of Loans 2.57787% 1.07411% 0.10741% 1.82599% 0.53706%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 3,340,279.73
% of Pool Balan 3.85952%
Number of Loans 36
% of Loans 3.86681%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 88,560,047.10
Prefunding N/A
Principal Reduction 2,013,531.51
Ending Aggregate Mortgage Loan Balance 86,546,515.59
Beginning Aggregate Mortgage Loan Count 951
Ending Aggregate Mortgage Loan Count 931
Current Weighted Average Coupon Rate 9.577485%
Next Weighted Average Coupon Rate 9.576083%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 250,732.17
Curtailments 0.00
Prepayments 1,762,799.34
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 2,013,531.51
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 36,900.02
Less: Amounts to Cover Interest Shortfalls 0.00
Less: Delinquent Service Fees 9,224.43
Collected Servicing Fees for Current Period: 27,675.59
Advanced Principal N/A
Advanced Interest 174,055.97
</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 1,762,79 2,013,531 -
- -
Total 1,762,79 2,013,531 -
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 4,867,085.20 0.00 0.00 4,867,085.20
Total 4,867,085 0.00 4,867,085.20
Specified Over-
Over- Collateral
Collateral Deficit
Amount Amount
<S> <S> <S>
Trust C 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 0.03
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 3
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 0.00
Unreimbursed Delinquent/Servicing Advances Paid Back to Certificateholder This Period 0.00
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 523,538.39
Principal Collected: 2,013,531.51
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 174,055.97
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 2,371.75
Sum of the Above Amounts: 2,713,497.62
LESS:
Servicing Fees (including PPIS): 27,675.59
Non-Recoverable Advance -
Indenture Trustee Fees: 516.60
Owner Trustee Fees: 69.44
Insurance Premiums: 10,810.34
Reimbursement of Delinquency Advances/Servicin -
Total Reductions to Available Funds Amount: 39,071.97
Total Available Funds: 2,674,425.65
</TABLE>
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