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Previous: FT 291, 497J, 2001-01-02 |
Next: TRIAD HOSPITALS INC, 8-K, 2001-01-02 |
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: December 26, 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 November, 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 November 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 November 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
December 29, 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 650,000,000 454,807,60 2,680,93 7,309,3 9,990,327.16
A Certificate 105,2 105,241.46
Totals 650,000,000 454,807,60 2,786,17 7,309,3 10,095,568.62
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 447,498,206. 7.317500% 7.347500%
A Certificate NA NA
Totals 447,498,206.03
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 699.704000 4.124512 11.245222 15.369734 688.458778
A Certificate 0.000000 0.161910 0.000000 0.161910 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>
Trust A Principal Balan 13,302,876.22 4,154,133.89 1,795,444.58 12,313,234.16 5,023,013.13
% of Pool Balan 2.81695% 8.79660% 0.38019% 2.60739% 1.06365%
Number of Loans 246 67 29 203 84
% of Loans 3.25742% 0.88718% 0.38400% 2.68803% 1.11229%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 19,004,411.39
% of Pool Balan 4.02427%
Number of Loans 320
% of Loans 4.23729%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 479,493,108.22
Prefunding 0.00
Principal Reduction 7,248,682.39
Ending Aggregate Mortgage Loan Balance 472,244,425.83
Beginning Aggregate Mortgage Loan Count 7640
Ending Aggregate Mortgage Loan Count 7552
Current Weighted Average Coupon Rate 9.521567%
Next Weighted Average Coupon Rate 9.517648%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 634,038.26
Curtailments 224,174.26
Prepayments 5,496,871.16
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 893,598.71
Other Principal 0.00
Less: Realized Losses 347,948.25
Total Principal Reduction 7,596,630.64
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 199,788.80
Less: Amounts to Cover Interest Shortfalls 7,084.39
Less: Delinquent Service Fees 61,728.68
Collected Servicing Fees for Current Period: 130,975.73
Advanced Principal N/A
Advanced Interest 1,168,975.67
</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 A 5,496,8 1,117, 6,900,73 -
-
Total 5,496,8 1,117, 6,900,73 -
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 24,685,507.91 408,660.14 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
</TABLE>
<TABLE>
<CAPTION>
<S> <S> <C> <C> <C> <C> <C>
Trust A Insured Payment 0.00
Pool Rolling six month delinquency rate 0.039836
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 6,103,480.37
Cumulative Number of Mortgage loans repurchased to date 11
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 332,539.96
Unreimbursed Delinquent/Servicing Advances Paid Back to Certificateholder This Period 0.00
Unremibursed Delinquent/Servicing Advances still Outstanding 0.00
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 2,573,900.58
Principal Collected: 6,355,083.68
Insurance Proceeds Received: -
Net Liquidation Proceeds: 545,650.46
Delinquency Advances on Mortgage Interest: 1,168,975.67
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 7,358.40
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: 10,650,968.79
LESS:
Servicing Fees (including PPIS): 138,060.12
Non Recoverable Advance 1,082.55
Indenture Trustee Fees: 2,797.04
Owner Trustee Fees: 277.78
Insurance Premiums: 49,270.82
Reimbursement of Delinquency Advances/Servicing Advances 332,539.96
Total Reductions to Available Funds Amount: 524,028.27
Total Available Funds: 10,126,940.52
</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 350,000,000 246,443,95 1,452,70 4,527,9 5,980,657.86
B Certificate -
Totals 350,000,000 246,443,95 1,452,70 4,527,9 5,980,657.86
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 241,915,994. 7.317500% 7.347500%
B Certificate NA NA
Totals 241,915,994.67
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 704.125574 4.150576 12.937018 17.087594 691.188556
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 6,845,214.28 1,308,836.51 772,730.71 6,840,871.04 3,400,095.18
% of Pool Balan 2.68220% 0.51285% 0.30278% 2.68050% 1.33228%
Number of Loans 129 26 14 115 60
% of Loans 3.78632% 0.76313% 0.41092% 3.37540% 1.76108%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 11,494,307.00
% of Pool Balan 4.50388%
Number of Loans 176
% of Loans 5.16584%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 259,646,981.11
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 4,438,213.26
Ending Aggregate Mortgage Loan Balance 255,208,767.85
Beginning Aggregate Mortgage Loan Count 3,468
Ending Aggregate Mortgage Loan Count 3,407
Current Weighted Average Coupon Rate 9.517887%
Next Weighted Average Coupon Rate 9.505847%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 318,781.38
Curtailments 19,423.43
Prepayments 3,332,509.27
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 767,499.18
Other Principal 0.00
Less: Realized Losses 384,062.37
Total Principal Reduction 4,822,275.63
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 108,186.24
Less: Amounts to Cover Interest Shortfalls 2,674.97
Less: Delinquent Service Fees 32,824.28
Collected Servicing Fees for Current Period: 72,686.99
Advanced Principal N/A
Advanced Interest 629,290.39
</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 3,332,5 786 4,054,15 -
- -
Total 3,332,5 786 4,054,15 -
Unpaid
Realized Loss
Amount
<S> <C> <C> <C> <C> <C> <C>
Class B -
-
</TABLE>
<TABLE>
<CAPTION>
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 13,203,030.10 473,805.45 0.00 13,292,773.18
Specified Over-
Over- Collateral
Collateral Deficit
Amount Amount
<S> <S> <S>
Trust B 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 0.05
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 4,099,151.17
Cumulative Number of Mortgage loans repurchased to date 8
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 0.00
Unreimbursed Delinquent/Servicing Advances Paid Back to Certificateholder This Period 0.00
Unreimbursed Delinquent/Servicing Advances Still Outstanding 245,533.98
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 1,397,294.07
Principal Collected: 3,670,714.08
Insurance Proceeds Received: -
Net Liquidation Proceeds: 383,436.81
Delinquency Advances on Mortgage Interest: 629,290.39
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 4,206.30
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: 6,084,941.65
LESS:
Servicing Fees (including PPIS): 75,361.96
Non-Recoverable Advance 431.35
Indenture Trustee Fees: 1,514.61
Owner Trustee Fees: 277.78
Insurance Premiums: 26,698.09
Reimbursement of Delinquency Advances/Servicin -
Total Reductions to Available Funds Amount: 104,283.79
Total Available Funds: 5,980,657.86
</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 59,086,5 341,1 5,358,9 5,700,090.73
C Certificate -
Totals 100,000,000 59,086,5 341,1 5,358,9 5,700,090.73
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 53,727,607 7.167500% 7.197500%
C Certificate NA NA
Totals 53,727,607.89
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 590.865436 3.411550 53.589357 57.000907 537.276079
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 1,716,886.95 864,456.83 42,212.55 2,322,971.80 882,813.07
% of Pool Balan 2.93011% 1.47532% 0.07204% 3.96447% 1.50664%
Number of Loans 20 10 2 28 10
% of Loans 3.04414% 1.52207% 0.30441% 4.26180% 1.52207%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 3,934,821.05
% of Pool Balan 6.71532%
Number of Loans 48
% of Loans 7.30594%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 63,953,628.79
Prefunding N/A
Principal Reduction 5,358,935.70
Ending Aggregate Mortgage Loan Balance 58,594,693.09
Beginning Aggregate Mortgage Loan Count 705
Ending Aggregate Mortgage Loan Count 657
Current Weighted Average Coupon Rate 10.689428%
Next Weighted Average Coupon Rate 10.648999%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 23,486.91
Curtailments 8,361.75
Prepayments 4,525,782.30
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 801,304.74
Other Principal 0.00
Less: Realized Losses 229,380.97
Total Principal Reduction 5,588,316.67
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 26,647.34
Less: Amounts to Cover Interest Shortfalls 1,128.21
Less: Delinquent Service Fees 8,356.30
Collected Servicing Fees for Current Period: 17,162.83
Advanced Principal N/A
Advanced Interest 175,770.17
</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 4,525,7 809 5,129,55 -
. . -
Unpaid
Realized Loss
Amount
<S> <C> <C> <C> <C> <C> <C>
Class C -
-
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Has a Over- Accelerated Amounts Over
Trigger Event Collateral Principal From Reserve Collateral
Occurred Amount Distributed Fund Amount
<S> <S> <C> <C> <C> <C>
Trust C NO 4,867,085.20 197,395.44 31,985.53 4,867,085.20
Specified Over-
Over- Collateral
Collateral Deficit
Amount Amount
<S> <S> <S>
Trust C 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 0.07
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 1,015,925.62
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
Unreimbursed Delinquent/Servicing Advances Still Outstanding 93,563.22
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 385,563.27
Principal Collected: 4,557,630.96
Insurance Proceeds Received: -
Net Liquidation Proceeds: 571,923.77
Delinquency Advances on Mortgage Interest: 175,770.17
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 3,973.20
Sum of the Above Amounts: 5,694,861.37
LESS:
Servicing Fees (including PPIS): 18,291.04
Non-Recoverable Advance 182.28
Indenture Trustee Fees: 373.06
Owner Trustee Fees: 277.78
Insurance Premiums: 7,632.01
Reimbursement of Delinquency Advances/Servicin -
Total Reductions to Available Funds Amount: 26,756.17
Total Available Funds: 5,668,105.20
</TABLE>
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