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Previous: FIRSTAR CORP /NEW/, 10-Q/A, 2000-06-01 |
Next: FT 329, 485BPOS, 2000-06-01 |
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: May 25, 2000
ADVANTA Mortgage Loan Trust 1998-4A, 1998-4B, 1998-4C
New York 333-52351-02 88-0360305
333-52351-03 23-2723382
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 April, 2000 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 2000 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 2000 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
May 31, 2000
<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 650,000,000 509,550,42 2,906,56 8,194,5 11,101,094.95
A Certificate 800,6 800,689.44
Totals 650,000,000 509,550,42 3,707,24 8,194,5 11,901,784.39
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 501,355,887. 6.845000% 7.310000%
A Certificate NA NA
Totals 501,355,887.76
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 783.923726 4.471632 12.606976 17.078608 771.316750
A Certificate 0.000000 1.231830 0.000000 1.231830 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 13,825,200.28 3,780,731.27 1,161,022.23 9,231,804.49 2,966,568.98
% of Pool Balan 2.62785% 0.71863% 0.22068% 1.75476% 0.56388%
Number of Loans 255 65 32 160 63
% of Loans 3.05829% 0.77956% 0.38379% 1.91893% 0.75558%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 13,784,135.25
% of Pool Balan 2.62005%
Number of Loans 229
% of Loans 2.74646%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 534,296,641.98
Prefunding 0.00
Principal Reduction 8,194,534.42
Ending Aggregate Mortgage Loan Balance 526,102,107.56
Beginning Aggregate Mortgage Loan Count 8465
Ending Aggregate Mortgage Loan Count 8338
Current Weighted Average Coupon Rate 9.571082%
Next Weighted Average Coupon Rate 9.562378%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 814,515.20
Curtailments 0.00
Prepayments 6,659,249.24
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 720,769.98
Other Principal 0.00
Less: Realized Losses 199,098.91
Total Principal Reduction 8,393,633.33
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 222,623.61
Less: Amounts to Cover Interest Shortfalls 7,148.90
Less: Delinquent Service Fees 57,937.07
Collected Servicing Fees for Current Period: 157,537.64
Advanced Principal N/A
Advanced Interest 1,117,329.56
</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 6,659,2 720 7,995,43 -
-
Total 6,659,2 720 7,995,43 -
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 24,746,219.80 199,098.91 0.00 24,746,219.80
Total 24,746,219 199, 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 0.027787
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 3,603,530.96
Cumulative Number of Mortgage loans repurchased to date 11
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 85,144.62
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: 3,086,230.76
Principal Collected: 7,473,764.44
Insurance Proceeds Received: -
Net Liquidation Proceeds: 521,671.07
Delinquency Advances on Mortgage Interest: 1,117,329.56
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 12,314.90
Capitalized Interest Requirement: -
Capitalized Interest Fund Earnings 0.00
Capitalized Interest Account 0.00
Investment Earnings on Pre-Funding Account 0.00
Unreimbursed Delq/Servicing Advances Paid Back To CertificateHo -
Sum of the Above Amounts: 12,211,310.73
LESS:
Servicing Fees (including PPIS): 164,686.54
Non Recoverable Advance 1,099.37
Indenture Trustee Fees: 3,116.73
Owner Trustee Fees: 277.78
Insurance Premiums: 55,201.30
Reimbursement of Delinquency Advances/Servicing Advances 85,144.62
Total Reductions to Available Funds Amount: 309,526.34
Total Available Funds: 11,901,784.39
</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 350,000,000 273,736,82 1,561,44 3,484,6 5,046,116.54
B Certificate 441,3 441,394.62
Totals 350,000,000 273,736,82 2,002,83 3,484,6 5,487,511.16
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 270,252,151. 6.845000% 7.310000%
B Certificate NA NA
Totals 270,252,151.26
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 782.105221 4.461259 9.956217 14.417476 772.149004
B Certificate 0.000000 0.679069 0.000000 0.679069 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 5,659,518.85 1,898,961.66 745,475.13 6,220,967.98 2,204,490.57
% of Pool Balan 1.99576% 0.66965% 0.26288% 2.19375% 0.77739%
Number of Loans 102 33 12 96 32
% of Loans 2.69984% 0.87348% 0.31763% 2.54103% 0.84701%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 9,767,364.75
% of Pool Balan 3.44434%
Number of Loans 148
% of Loans 3.91742%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 287,061,700.41
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 3,484,676.05
Ending Aggregate Mortgage Loan Balance 283,577,024.36
Beginning Aggregate Mortgage Loan Count 3,820
Ending Aggregate Mortgage Loan Count 3,778
Current Weighted Average Coupon Rate 9.573464%
Next Weighted Average Coupon Rate 9.568156%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 876,958.69
Curtailments 0.00
Prepayments 2,182,187.41
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 425,529.95
Other Principal 0.00
Less: Realized Losses 107,502.12
Total Principal Reduction 3,592,178.17
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 119,609.04
Less: Amounts to Cover Interest Shortfalls 2,036.72
Less: Delinquent Service Fees 30,209.91
Collected Servicing Fees for Current Period: 87,362.41
Advanced Principal N/A
Advanced Interest 587,922.04
</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 2,182,1 425 3,377,17 -
- -
Total 2,182,1 425 3,377,17 -
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 13,324,873.10 107,502.12 0.00 13,324,873.10
Total 13,324,873 107, 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 0.04
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 2,553,806.84
Cumulative Number of Mortgage loans repurchased to date 8
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 34,295.25
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: 1,672,013.70
Principal Collected: 3,059,146.10
Insurance Proceeds Received: -
Net Liquidation Proceeds: 318,027.83
Delinquency Advances on Mortgage Interest: 587,922.04
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 5,703.00
Capitalized Interest Requirement: 0.00
Capitalized Interest Account Earnings 0.00
Capitalized Interest Account 0.00
Reversal of Realized Loss Amount -
Unreimbursed Delq/Servicing Advances Paid Back 0.00
Sum of the Above Amounts: 5,642,812.67
LESS:
Servicing Fees (including PPIS): 89,399.13
Non-Recoverable Advance -
Indenture Trustee Fees: 1,674.53
Owner Trustee Fees: 277.78
Insurance Premiums: 29,654.82
Reimbursement of Delinquency Advances/Servicin 34,295.25
Total Reductions to Available Funds Amount: 155,301.51
Total Available Funds: 5,487,511.16
</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 71,855,5 400,8 1,348,8 1,749,742.81
C Certificate 168,2 168,286.86
Totals 100,000,000 71,855,5 569,1 1,348,8 1,918,029.67
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 70,506,728 6.695000% 7.160000%
C Certificate NA NA
Totals 70,506,728.38
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 718.555770 4.008942 13.488486 17.497428 705.067284
C Certificate 0.000000 0.258903 0.000000 0.258903 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 2,568,224.76 434,387.11 345,867.24 1,732,533.82 803,178.81
% of Pool Balan 3.40732% 0.57631% 0.45887% 2.29859% 1.06559%
Number of Loans 29 6 4 23 7
% of Loans 3.53659% 0.73171% 0.48780% 2.80488% 0.85366%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 3,384,611.13
% of Pool Balan 4.49044%
Number of Loans 37
% of Loans 4.51220%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 76,722,662.15
Prefunding N/A
Principal Reduction 1,348,848.57
Ending Aggregate Mortgage Loan Balance 75,373,813.58
Beginning Aggregate Mortgage Loan Count 836
Ending Aggregate Mortgage Loan Count 820
Current Weighted Average Coupon Rate 9.622173%
Next Weighted Average Coupon Rate 9.627777%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 124,077.90
Curtailments 0.00
Prepayments 1,151,340.49
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 73,430.18
Other Principal 0.00
Less: Realized Losses 1,876.20
Total Principal Reduction 1,350,724.77
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 31,967.78
Less: Amounts to Cover Interest Shortfalls 781.98
Less: Delinquent Service Fees 8,444.53
Collected Servicing Fees for Current Period: 22,741.27
Advanced Principal N/A
Advanced Interest 159,521.38
</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 1,151,3 7 1,346,97 -
- . -
Total 1,151,3 7 1,346,97 -
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 1,876.20 0.00 4,867,085.20
Total 4,867,08 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 0.05
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 947,994.21
Cumulative Number of Mortgage loans repurchased to date 3
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 4,159.21
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: 447,233.06
Principal Collected: 1,275,418.39
Insurance Proceeds Received: -
Net Liquidation Proceeds: 71,553.98
Delinquency Advances on Mortgage Interest: 159,521.38
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 1,992.00
Sum of the Above Amounts: 1,955,718.81
LESS:
Servicing Fees (including PPIS): 23,523.25
Non-Recoverable Advance -
Indenture Trustee Fees: 447.55
Owner Trustee Fees: 277.78
Insurance Premiums: 9,281.35
Reimbursement of Delinquency Advances/Servicin 4,159.21
Total Reductions to Available Funds Amount: 37,689.14
Total Available Funds: 1,918,029.67
</TABLE>
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