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Previous: ADVANTA MORTGAGE LOAN TRUST 1998-4A, 8-K, 1999-11-01 |
Next: CIGAR KING CORP, 10SB12G/A, 1999-11-01 |
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: October 25, 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 September 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 September 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 September 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
October 28, 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. 568,821,392 2,690,999 9,316,34 12,007,348.86
A Certificate 1,640,685 1,640,685.46
Totals 650,000,000. 568,821,392 4,331,684 9,316,34 13,648,034.32
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 559,505,042. 6.082500% 6.108750%
A Certificate NA NA
Totals 559,505,042.97
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 875.109835 4.139999 14.332846 18.472845 860.776989
A Certificate 0.000000 2.524131 0.000000 2.524131 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 12,762,968.93 3,437,716.09 863,604.85 5,751,377.39 1,249,294.43
% of Pool Balan 2.18450% 0.58840% 0.14781% 0.98440% 0.21383%
Number of Loans 238 69 20 94 26
% of Loans 2.57604% 0.74683% 0.21647% 1.01743% 0.28142%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 10,161,466.39
% of Pool Balan 1.73923%
Number of Loans 187
% of Loans 2.02403%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 593,567,612.43
Prefunding 0.00
Principal Reduction 9,316,349.66
Ending Aggregate Mortgage Loan Balance 584,251,262.77
Beginning Aggregate Mortgage Loan Count 9400
Ending Aggregate Mortgage Loan Count 9239
Current Weighted Average Coupon Rate 9.644068%
Next Weighted Average Coupon Rate 9.633334%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 1,040,712.30
Curtailments 0.00
Prepayments 8,004,419.63
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 271,217.73
Other Principal 0.00
Less: Realized Losses (112,327.54)
Total Principal Reduction 9,204,022.12
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 247,319.84
Less: Amounts to Cover Interest Shortfalls 7,687.64
Less: Delinquent Service Fees 60,802.99
Collected Servicing Fees for Current Period: 178,829.21
Advanced Principal N/A
Advanced Interest 1,186,271.57
</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 8,004,41 271,2 9,204,022 -
-
Total 8,004,41 271,2 9,204,022 -
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 24,746,219.80 112,327.54 0.00 24,746,219.80
Total 24,746,219. 112,32 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 0.014393
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 1,394,836.38
Cumulative Number of Mortgage loans repurchased to date 11
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 21,407.16
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 3,523,264.20
Principal Collected: 9,045,131.93
Insurance Proceeds Received: -
Net Liquidation Proceeds: 158,890.19
Delinquency Advances on Mortgage Interest: 1,186,271.57
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 7,694.34
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: 13,921,252.23
LESS:
Servicing Fees (including PPIS): 186,516.85
Non Recoverable Advance 209.10
Indenture Trustee Fees: 3,462.48
Owner Trustee Fees: 0
Insurance Premiums: 61,622.32
Reimbursement of Delinquency Advances/Servicin 21,407.16
Total Reductions to Available Funds Amount: 273,217.91
Total Available Funds: 13,648,034.32
</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. 308,011,879 1,457,152 3,751,75 5,208,907.69
B Certificate 942,14 942,142.57
Totals 350,000,000. 308,011,879 2,399,295 3,751,75 6,151,050.26
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 304,260,124. 6.082500% 6.108750%
B Certificate NA NA
Totals 304,260,124.57
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 880.033941 4.163294 10.719299 14.882593 869.314642
B Certificate 0.000000 1.449450 0.000000 1.449450 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 5,252,099.49 2,365,479.60 712,648.09 2,855,323.56 589,175.03
% of Pool Balan 1.65376% 0.74483% 0.22440% 0.89907% 0.18552%
Number of Loans 99 41 9 45 13
% of Loans 2.35490% 0.97526% 0.21408% 1.07041% 0.30923%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 7,173,335.93
% of Pool Balan 2.25871%
Number of Loans 104
% of Loans 2.47383%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 321,336,752.49
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 3,751,754.82
Ending Aggregate Mortgage Loan Balance 317,584,997.67
Beginning Aggregate Mortgage Loan Count 4254
Ending Aggregate Mortgage Loan Count 4204
Current Weighted Average Coupon Rate 9.649039%
Next Weighted Average Coupon Rate 9.641007%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 387,670.54
Curtailments 0.00
Prepayments 3,324,759.28
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 39,325.00
Other Principal 0.00
Less: Realized Losses (15,103.21)
Total Principal Reduction 3,736,651.61
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 133,890.32
Less: Amounts to Cover Interest Shortfalls 1,012.96
Less: Delinquent Service Fees 30,923.08
Collected Servicing Fees for Current Period: 101,954.28
Advanced Principal N/A
Advanced Interest 606,842.91
</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 B 3,324,75 39, 3,736,651 -
- -
Total 3,324,75 39, 3,736,651 -
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 15,103.21 0.00 13,324,873.10
Total 13,324,873. 15,1 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 653,101.84
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: 1,946,059.77
Principal Collected: 3,712,429.82
Insurance Proceeds Received: -
Net Liquidation Proceeds: 24,221.79
Delinquency Advances on Mortgage Interest: 606,842.91
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 3,470.99
Capitalized Interest Requirement: 0.00
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: 6,293,025.28
LESS:
Servicing Fees (including PPIS): 102,967.24
Non-Recoverable Advance -
Indenture Trustee Fees: 1,874.46
Owner Trustee Fees: 0
Insurance Premiums: 33,367.95
Reimbursement of Delinquency Advances/Servicin 3,765.37
Total Reductions to Available Funds Amount: 141,975.02
Total Available Funds: 6,151,050.26
</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. 85,057,83 392,47 1,364,87 1,757,343.52
C Certificate 250,86 250,866.87
Totals 100,000,000. 85,057,83 643,33 1,364,87 2,008,210.39
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 83,692,961. 5.932500% 5.958750%
C Certificate NA NA
Totals 83,692,961.90
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 850.578344 3.924710 13.648725 17.573435 836.929619
C Certificate 0.000000 0.385949 0.000000 0.385949 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 2,296,421.93 501,016.69 103,223.98 1,203,738.52 339,226.91
% of Pool Balan 2.59307% 0.56574% 0.11656% 1.35923% 0.38305%
Number of Loans 30 6 2 15 4
% of Loans 3.15457% 0.63091% 0.21030% 1.57729% 0.42061%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 3,536,385.73
% of Pool Balan 3.99321%
Number of Loans 37
% of Loans 3.89064%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 89,924,919.60
Prefunding N/A
Principal Reduction 1,364,872.50
Ending Aggregate Mortgage Loan Balance 88,560,047.10
Beginning Aggregate Mortgage Loan Count 967
Ending Aggregate Mortgage Loan Count 951
Current Weighted Average Coupon Rate 9.592615%
Next Weighted Average Coupon Rate 9.577485%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 33,589.66
Curtailments 0.00
Prepayments 1,273,749.19
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 57,533.65
Other Principal 0.00
Less: Realized Losses (27,274.10)
Total Principal Reduction 1,337,598.40
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 37,468.72
Less: Amounts to Cover Interest Shortfalls 297.46
Less: Delinquent Service Fees 8,955.00
Collected Servicing Fees for Current Period: 28,216.26
Advanced Principal N/A
Advanced Interest 168,645.44
</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 1,273,74 57, 1,337,598 -
- -
Total 1,273,74 57, 1,337,598 -
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 27,274.10 0.00 4,867,085.20
Total 4,867,085 27,2 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 380,734.81
Cumulative Number of Mortgage loans repurchased to date 3
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 387.31
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 541,245.49
Principal Collected: 1,307,338.85
Insurance Proceeds Received: -
Net Liquidation Proceeds: 30,259.55
Delinquency Advances on Mortgage Interest: 168,645.44
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 1,133.29
Sum of the Above Amounts: 2,048,622.62
LESS:
Servicing Fees (including PPIS): 28,513.72
Non-Recoverable Advance -
Indenture Trustee Fees: 524.56
Owner Trustee Fees: 0
Insurance Premiums: 10,986.64
Reimbursement of Delinquency Advances/Servicin 387.31
Total Reductions to Available Funds Amount: 40,412.23
Total Available Funds: 2,008,210.39
</TABLE>
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