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Previous: SERENA SOFTWARE INC, 8-K, EX-99.1, 2000-09-05 |
Next: EMPYREAN BIOSCIENCE INC, S-4/A, 2000-09-05 |
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, 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 July, 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 July 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 July 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
September 1, 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 650,000,000 486,930,03 3,069,28 7,764,6 10,833,894.17
A Certificate 31, 31,148.02
Totals 650,000,000 486,930,03 3,100,43 7,764,6 10,865,042.19
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 479,165,427. 7.320000% 7.320000%
A Certificate NA NA
Totals 479,165,427.97
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 749.123138 4.721973 11.945557 16.667530 737.177581
A Certificate 0.000000 0.047920 0.000000 0.047920 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 15,199,838.67 3,162,317.78 2,007,330.79 9,656,185.07 3,571,787.81
% of Pool Balan 3.01637% 0.62755% 0.39835% 1.91625% 0.70881%
Number of Loans 269 48 50 173 67
% of Loans 3.36292% 0.60008% 0.62508% 2.16277% 0.83760%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 15,091,376.44
% of Pool Balan 2.99485%
Number of Loans 251
% of Loans 3.13789%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 511,676,259.59
Prefunding 0.00
Principal Reduction 7,764,611.82
Ending Aggregate Mortgage Loan Balance 503,911,647.77
Beginning Aggregate Mortgage Loan Count 8112
Ending Aggregate Mortgage Loan Count 7999
Current Weighted Average Coupon Rate 9.548068%
Next Weighted Average Coupon Rate 9.538185%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 670,343.09
Curtailments 214,541.12
Prepayments 5,896,691.72
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 983,035.89
Other Principal 0.00
Less: Realized Losses 559,662.78
Total Principal Reduction 8,324,274.60
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 213,198.44
Less: Amounts to Cover Interest Shortfalls 3,372.83
Less: Delinquent Service Fees 57,162.81
Collected Servicing Fees for Current Period: 152,662.80
Advanced Principal N/A
Advanced Interest 1,092,998.66
</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 5,896,6 1,197, 7,204,94 -
-
Total 5,896,6 1,197, 7,204,94 -
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 24,746,219.80 559,662.78 0.00 24,746,219.80
Total 24,746,219 559, 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 0.032641
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 5,059,466.40
Cumulative Number of Mortgage loans repurchased to date 11
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 144,859.46
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: 2,921,105.13
Principal Collected: 6,781,575.93
Insurance Proceeds Received: -
Net Liquidation Proceeds: 423,373.11
Delinquency Advances on Mortgage Interest: 1,092,998.66
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 11,285.09
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: 11,230,337.92
LESS:
Servicing Fees (including PPIS): 156,035.63
Non Recoverable Advance 10,177.46
Indenture Trustee Fees: 2,984.78
Owner Trustee Fees: 277.78
Insurance Premiums: 52,750.75
Reimbursement of Delinquency Advances/Servicing Advances 144,859.46
Total Reductions to Available Funds Amount: 367,085.86
Total Available Funds: 10,863,252.06
</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 350,000,000 262,041,02 1,651,73 3,511,1 5,162,841.00
B Certificate 90, 90,144.25
Totals 350,000,000 262,041,02 1,741,87 3,511,1 5,252,985.25
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 258,529,916. 7.320000% 7.320000%
B Certificate NA NA
Totals 258,529,916.90
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 748.688646 4.719234 10.031740 14.750974 738.656906
B Certificate 0.000000 0.138683 0.000000 0.138683 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 7,692,639.07 680,554.70 665,404.66 6,299,131.24 3,318,632.43
% of Pool Balan 2.82969% 0.25034% 0.24476% 2.31709% 1.22074%
Number of Loans 134 15 14 105 47
% of Loans 3.70166% 0.41436% 0.38674% 2.90055% 1.29834%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 9,138,659.98
% of Pool Balan 3.36160%
Number of Loans 154
% of Loans 4.25414%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 275,365,899.07
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 3,511,109.07
Ending Aggregate Mortgage Loan Balance 271,854,790.00
Beginning Aggregate Mortgage Loan Count 3,670
Ending Aggregate Mortgage Loan Count 3,620
Current Weighted Average Coupon Rate 9.545576%
Next Weighted Average Coupon Rate 9.538059%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 341,824.35
Curtailments 22,033.55
Prepayments 2,731,789.15
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 415,462.02
Other Principal 0.00
Less: Realized Losses 248,017.54
Total Principal Reduction 3,759,126.61
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 114,735.80
Less: Amounts to Cover Interest Shortfalls 2,699.39
Less: Delinquent Service Fees 30,032.37
Collected Servicing Fees for Current Period: 82,004.04
Advanced Principal N/A
Advanced Interest 580,661.54
</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 2,731,7 437 3,263,09 -
- -
Total 2,731,7 437 3,263,09 -
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 13,324,873.10 248,017.54 0.00 13,324,873.10
Total 13,324,873 248, 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 3,889,851.36
Cumulative Number of Mortgage loans repurchased to date 8
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 59,716.06
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: 1,579,744.54
Principal Collected: 3,095,647.05
Insurance Proceeds Received: -
Net Liquidation Proceeds: 167,444.48
Delinquency Advances on Mortgage Interest: 580,661.54
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 5,459.36
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: 5,428,956.97
LESS:
Servicing Fees (including PPIS): 84,703.43
Non-Recoverable Advance 1,280.37
Indenture Trustee Fees: 1,606.30
Owner Trustee Fees: 277.78
Insurance Premiums: 28,387.78
Reimbursement of Delinquency Advances/Servicin 59,716.06
Total Reductions to Available Funds Amount: 175,971.72
Total Available Funds: 5,252,985.25
</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 67,901,4 419,2 1,293,2 1,712,513.14
C Certificate 51, 51,952.73
Totals 100,000,000 67,901,4 471,1 1,293,2 1,764,465.87
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 66,608,151 7.170000% 7.170000%
C Certificate NA NA
Totals 66,608,151.06
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 679.014295 4.192347 12.932784 17.125131 666.081511
C Certificate 0.000000 0.079927 0.000000 0.079927 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 2,504,490.89 293,349.01 410,574.99 2,051,334.75 912,649.34
% of Pool Balan 3.50400% 0.41042% 0.57443% 2.86999% 1.27687%
Number of Loans 29 3 6 26 9
% of Loans 3.71319% 0.38412% 0.76825% 3.32907% 1.15237%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 3,416,065.90
% of Pool Balan 4.77937%
Number of Loans 43
% of Loans 5.50576%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 72,768,514.66
Prefunding N/A
Principal Reduction 1,293,278.40
Ending Aggregate Mortgage Loan Balance 71,475,236.26
Beginning Aggregate Mortgage Loan Count 794
Ending Aggregate Mortgage Loan Count 781
Current Weighted Average Coupon Rate 9.735560%
Next Weighted Average Coupon Rate 9.721900%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 36,172.34
Curtailments 7,686.32
Prepayments 1,014,258.18
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 235,161.56
Other Principal 0.00
Less: Realized Losses 79,312.43
Total Principal Reduction 1,372,590.83
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 30,320.22
Less: Amounts to Cover Interest Shortfalls 0.00
Less: Delinquent Service Fees 8,192.71
Collected Servicing Fees for Current Period: 22,127.51
Advanced Principal N/A
Advanced Interest 158,909.33
</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 1,014,2 242 1,213,96 -
- . -
Total 1,014,2 242 1,213,96 -
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 79,312.43 0.00 4,867,085.20
Total 4,867,08 79 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 880,594.74
Cumulative Number of Mortgage loans repurchased to date 3
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 1,398.87
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: 423,266.50
Principal Collected: 1,058,116.84
Insurance Proceeds Received: -
Net Liquidation Proceeds: 155,849.13
Delinquency Advances on Mortgage Interest: 158,909.33
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 1,833.07
Sum of the Above Amounts: 1,797,974.87
LESS:
Servicing Fees (including PPIS): 22,127.51
Non-Recoverable Advance 509.76
Indenture Trustee Fees: 424.48
Owner Trustee Fees: 277.78
Insurance Premiums: 8,770.60
Reimbursement of Delinquency Advances/Servicin 1,398.87
Total Reductions to Available Funds Amount: 33,509.00
Total Available Funds: 1,764,465.87
</TABLE>
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