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Previous: MORGAN STANLEY DEAN WITTER REAL ESTATE FUND, NSAR-A, EX-27, 2000-07-28 |
Next: IVILLAGE INC, 8-K, 2000-07-28 |
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: July 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 June, 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 June 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 June 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
July 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 650,000,000 494,715,12 2,929,62 7,785,0 10,714,711.40
A Certificate 443,6 443,689.34
Totals 650,000,000 494,715,12 3,373,31 7,785,0 11,158,400.74
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 486,930,039. 7.351250% 7.320000%
A Certificate NA NA
Totals 486,930,039.79
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 761.100195 4.507114 11.977058 16.484172 749.123137
A Certificate 0.000000 0.682599 0.000000 0.682599 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 14,047,678.81 4,009,774.15 1,907,041.30 9,577,245.80 2,854,111.09
% of Pool Balan 2.74542% 0.78365% 0.37270% 1.87174% 0.55780%
Number of Loans 255 69 48 166 58
% of Loans 3.14349% 0.85059% 0.59172% 2.04635% 0.71499%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 14,017,387.85
% of Pool Balan 2.73950%
Number of Loans 222
% of Loans 2.73669%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 519,461,347.02
Prefunding 0.00
Principal Reduction 7,785,087.43
Ending Aggregate Mortgage Loan Balance 511,676,259.59
Beginning Aggregate Mortgage Loan Count 8225
Ending Aggregate Mortgage Loan Count 8112
Current Weighted Average Coupon Rate 9.554465%
Next Weighted Average Coupon Rate 9.548068%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 677,695.46
Curtailments 414,926.21
Prepayments 5,910,513.17
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 781,952.59
Other Principal 0.00
Less: Realized Losses 370,349.99
Total Principal Reduction 8,155,437.42
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 216,442.23
Less: Amounts to Cover Interest Shortfalls 10,354.06
Less: Delinquent Service Fees 56,786.98
Collected Servicing Fees for Current Period: 149,301.19
Advanced Principal N/A
Advanced Interest 1,086,692.91
</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 5,910,5 1,196, 7,414,73 -
-
Total 5,910,5 1,196, 7,414,73 -
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 24,746,219.80 370,349.99 0.00 24,746,219.80
Total 24,746,219 370, 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 0.031077
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 3,501,086.18
Cumulative Number of Mortgage loans repurchased to date 11
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 123,368.00
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: 2,992,499.45
Principal Collected: 7,003,134.84
Insurance Proceeds Received: -
Net Liquidation Proceeds: 411,602.60
Delinquency Advances on Mortgage Interest: 1,086,692.91
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 11,775.75
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: 11,505,705.55
LESS:
Servicing Fees (including PPIS): 159,655.25
Non Recoverable Advance 8,838.81
Indenture Trustee Fees: 3,030.19
Owner Trustee Fees: 277.78
Insurance Premiums: 53,594.14
Reimbursement of Delinquency Advances/Servicing Advances 123,368.00
Total Reductions to Available Funds Amount: 348,764.17
Total Available Funds: 11,156,941.38
</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 350,000,000 265,877,74 1,574,48 3,836,7 5,411,201.97
B Certificate 351,4 351,406.92
Totals 350,000,000 265,877,74 1,925,89 3,836,7 5,762,608.89
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 262,041,025. 7.351250% 7.320000%
B Certificate NA NA
Totals 262,041,025.97
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 759.650693 4.498530 10.962047 15.460577 748.688646
B Certificate 0.000000 0.540626 0.000000 0.540626 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 6,979,218.01 1,941,351.59 715,637.79 6,131,004.81 2,633,331.94
% of Pool Balan 2.53453% 0.70501% 0.25989% 2.22649% 0.95630%
Number of Loans 104 34 13 100 38
% of Loans 2.83379% 0.92643% 0.35422% 2.72480% 1.03542%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 9,251,576.81
% of Pool Balan 3.35974%
Number of Loans 151
% of Loans 4.11444%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 279,202,615.52
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 3,836,716.45
Ending Aggregate Mortgage Loan Balance 275,365,899.07
Beginning Aggregate Mortgage Loan Count 3,724
Ending Aggregate Mortgage Loan Count 3,670
Current Weighted Average Coupon Rate 9.560640%
Next Weighted Average Coupon Rate 9.545576%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 341,768.76
Curtailments 66,816.65
Prepayments 3,020,484.40
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 407,646.64
Other Principal 0.00
Less: Realized Losses 120,418.69
Total Principal Reduction 3,957,135.14
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 116,334.43
Less: Amounts to Cover Interest Shortfalls 2,425.09
Less: Delinquent Service Fees 30,473.37
Collected Servicing Fees for Current Period: 83,435.97
Advanced Principal N/A
Advanced Interest 590,134.67
</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 3,020,4 474 3,716,29 -
- -
Total 3,020,4 474 3,716,29 -
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 13,324,873.10 120,418.69 0.00 13,324,873.10
Total 13,324,873 120, 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 3,107,416.08
Cumulative Number of Mortgage loans repurchased to date 8
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 36,102.60
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: 1,603,855.10
Principal Collected: 3,429,069.81
Insurance Proceeds Received: -
Net Liquidation Proceeds: 287,227.95
Delinquency Advances on Mortgage Interest: 590,134.67
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 6,083.00
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: 5,916,370.53
LESS:
Servicing Fees (including PPIS): 85,861.06
Non-Recoverable Advance 1,088.10
Indenture Trustee Fees: 1,628.68
Owner Trustee Fees: 277.78
Insurance Premiums: 28,803.42
Reimbursement of Delinquency Advances/Servicin 36,102.60
Total Reductions to Available Funds Amount: 153,761.64
Total Available Funds: 5,762,608.89
</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 69,163,2 401,2 1,261,8 1,663,083.81
C Certificate 142,7 142,742.76
Totals 100,000,000 69,163,2 543,9 1,261,8 1,805,826.57
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 67,901,429 7.201250% 7.170000%
C Certificate NA NA
Totals 67,901,429.46
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 691.632965 4.012168 12.618671 16.630839 679.014294
C Certificate 0.000000 0.219604 0.000000 0.219604 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 2,544,395.99 601,211.94 205,688.62 2,029,252.93 738,663.99
% of Pool Balan 3.49656% 0.82620% 0.28266% 2.78864% 1.01509%
Number of Loans 30 9 3 26 7
% of Loans 3.77834% 1.13350% 0.37783% 3.27456% 0.88161%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 3,504,841.85
% of Pool Balan 4.81643%
Number of Loans 38
% of Loans 4.78589%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 74,030,381.71
Prefunding N/A
Principal Reduction 1,261,867.05
Ending Aggregate Mortgage Loan Balance 72,768,514.66
Beginning Aggregate Mortgage Loan Count 807
Ending Aggregate Mortgage Loan Count 794
Current Weighted Average Coupon Rate 9.666698%
Next Weighted Average Coupon Rate 9.653882%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 34,789.03
Curtailments 90,763.91
Prepayments 922,091.78
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 214,222.33
Other Principal 0.00
Less: Realized Losses 11,830.92
Total Principal Reduction 1,273,697.97
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 30,845.99
Less: Amounts to Cover Interest Shortfalls 0.00
Less: Delinquent Service Fees 8,280.72
Collected Servicing Fees for Current Period: 22,565.27
Advanced Principal N/A
Advanced Interest 158,851.70
</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 922, 304 1,250,03 -
- . -
Total 922, 304 1,250,03 -
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 11,830.92 0.00 4,867,085.20
Total 4,867,08 11 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 0.06
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 843,264.59
Cumulative Number of Mortgage loans repurchased to date 3
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 1,612.87
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: 429,225.35
Principal Collected: 1,047,644.72
Insurance Proceeds Received: -
Net Liquidation Proceeds: 202,391.41
Delinquency Advances on Mortgage Interest: 158,851.70
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 1,906.00
Sum of the Above Amounts: 1,840,019.18
LESS:
Servicing Fees (including PPIS): 22,565.27
Non-Recoverable Advance 371.26
Indenture Trustee Fees: 431.84
Owner Trustee Fees: 277.78
Insurance Premiums: 8,933.59
Reimbursement of Delinquency Advances/Servicin 1,612.87
Total Reductions to Available Funds Amount: 34,192.61
Total Available Funds: 1,805,826.57
</TABLE>
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