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Previous: PHARMANETICS INC, DEF 14A, 1999-04-08 |
Next: ADVANTA MORTGAGE LOAN TRUST 1998-4B, 8-K, 1999-04-08 |
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 28, 1998
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: William P. Garland
10790 Rancho Bernardo Road
San Diego, CA 92127
(619) 674-1800
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the November, 1998 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, 1998 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, 1998 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/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
December 31, 1998
<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. 650,000,000. 3,529,191 2,129,32 5,658,520.39
A Certificate -
Totals 650,000,000. 650,000,000. 3,529,191 2,129,32 5,658,520.39
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 647,870,671. 5.748910% 6.324380%
A Certificate NA NA
Totals 647,870,671.58
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 1000.000000 5.429526 3.275890 8.705416 996.724110
A 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 A Principal Balan 4,758,456.49 301,152.99 0.00 133,112.36 0.00
% of Pool Balan 1.03259% 0.06535% 0.00000% 0.02889% 0.00000%
Number of Loans 88 6 0 2 0
% of Loans 1.23370% 0.08412% 0.00000% 0.02804% 0.00000%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 40,000.00
% of Pool Balan 0.00868%
Number of Loans 1
% of Loans 0.01402%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 461,929,841.08
Prefunding 0.00
Principal Reduction 1,103,136.16
Ending Aggregate Mortgage Loan Balance 460,826,704.92
Beginning Aggregate Mortgage Loan Count 7147
Ending Aggregate Mortgage Loan Count 7133
Current Weighted Average Coupon Rate 9.667878%
Next Weighted Average Coupon Rate 9.666311%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 307,181.48
Curtailments (7,299.17)
Prepayments 534,520.78
Repurchases 268,733.07
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 1,103,136.16
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 192,470.77
Less: Amounts to Cover Interest Shortfalls 0.00
Less: Delinquent Service Fees 21,535.88
Collected Servicing Fees for Current Period: 170,934.89
Advanced Principal NA
Advanced Interest 428,654.24
</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 534,52 261,43 1,103,136 -
-
Total 534,52 261,43 1,103,136 -
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 197,969,353.51 0.00 1,026,192.26 0.00 0.00
Total 1,026,19 0.00 0.00
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 N/A
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 0.00
Cumulative Number of Mortgage loans repurchased to date 4
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 3,271,377.48
Principal Collected: 834,403.09
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 428,654.24
Delinquency Advances on Mortgage Principal NA
Substitution Amounts: 268,733.07
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 4,214.06
Capitalized Interest Requirement: 508,602.44
Capitalized Interest Fund Earnings 0.00
Capitalized Interest Account 0.00
Investment Earnings on Pre-Funding Account 586,651.60
Remaining Pre-Funding Account: -
Sum of the Above Amounts: 5,902,635.98
LESS:
Servicing Fees (including PPIS): 170,934.89
Dealer Reserve: -
Indenture Trustee Fees: 2,694.59
Owner Trustee Fees: 69.44
Insurance Premiums: 70,416.67
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 244,115.59
Total Available Funds: 5,658,520.39
</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. 350,000,000. 1,900,334 975,62 2,875,957.32
B Certificate -
Totals 350,000,000. 350,000,000. 1,900,334 975,62 2,875,957.32
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 349,024,376. 5.748910% 6.324380%
B Certificate NA NA
Totals 349,024,376.82
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 1000.000000 5.429526 2.787495 8.217021 997.212505
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 947,248.68 0.00 0.00 0.00 0.00
% of Pool Balan 0.44539% 0.00000% 0.00000% 0.00000% 0.00000%
Number of Loans 17 0 0 0 0
% of Loans 0.60910% 0.00000% 0.00000% 0.00000% 0.00000%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 0.00
% of Pool Balan 0.00000%
Number of Loans 0
% of Loans 0.00000%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 213,198,102.88
Prefunding 0.00
Principal Reduction 518,630.75
Ending Aggregate Mortgage Loan Balance 212,679,472.13
Beginning Aggregate Mortgage Loan Count 2795
Ending Aggregate Mortgage Loan Count 2791
Current Weighted Average Coupon Rate 9.550207%
Next Weighted Average Coupon Rate 9.549662%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 101,680.99
Curtailments (242.21)
Prepayments 252,195.81
Repurchases 164,996.16
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 518,630.75
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 88,832.54
Less: Amounts to Cover Interest Shortfalls 0.00
Less: Delinquent Service Fees 6,048.65
Collected Servicing Fees for Current Period: 82,783.89
Advanced Principal NA
Advanced Interest 121,148.51
</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 252,19 164,75 518,63 -
- -
Total 252,19 164,75 518,63 -
Applied
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 142,131,846.36 0.00 456,992.43 0.00 0.00
Total 456,99 0.00 0.00
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 N/A
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 0.00
Cumulative Number of Mortgage loans repurchased to date 2
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 1,569,541.12
Principal Collected: 353,634.59
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 121,148.51
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: 164,996.16
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 2,121.82
Capitalized Interest Requirement: 365,531.19
Capitalized Interest Fund Earnings 0.00
Capitalized Interest Account 0.00
Investment Earnings on Pre-Funding Account 420,997.59
Remaining Pre-Funding Account: -
Sum of the Above Amounts: 2,997,970.98
LESS:
Servicing Fees (including PPIS): 82,783.89
Dealer Reserve: -
Indenture Trustee Fees: 1,243.66
Owner Trustee Fees: 69.44
Insurance Premiums: 37,916.67
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 122,013.66
Total Available Funds: 2,875,957.32
</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. 100,000,000. 528,78 671,84 1,200,628.86
C Certificate -
Totals 100,000,000. 100,000,000. 528,78 671,84 1,200,628.86
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 99,328,157. 5.598910% 6.174380%
C Certificate NA NA
Totals 99,328,157.08
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 1000.000000 5.287859 6.718429 12.006288 993.281571
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 652,950.14 243,037.67 0.00 0.00 0.00
% of Pool Balan 0.63995% 0.23820% 0.00000% 0.00000% 0.00000%
Number of Loans 9 4 0 0 0
% of Loans 0.82418% 0.36630% 0.00000% 0.00000% 0.00000%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 0.00
% of Pool Balan 0.00000%
Number of Loans 0
% of Loans 0.00000%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 102,464,951.49
Prefunding 0.00
Principal Reduction 433,127.59
Ending Aggregate Mortgage Loan Balance 102,031,823.90
Beginning Aggregate Mortgage Loan Count 1096
Ending Aggregate Mortgage Loan Count 1092
Current Weighted Average Coupon Rate 9.636864%
Next Weighted Average Coupon Rate 9.639670%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 26,712.34
Curtailments (181.07)
Prepayments 182,196.32
Repurchases 224,400.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 433,127.59
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 42,693.73
Less: Amounts to Cover Interest Shortfalls 0.00
Less: Delinquent Service Fees 4,944.83
Collected Servicing Fees for Current Period: 37,748.90
Advanced Principal NA
Advanced Interest 96,005.45
</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 182,19 224,21 433,12 -
- -
Total 182,19 224,21 433,12 -
Applied
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 2,464,951.49 238,715.33 0.00 2,703,666.82
Total 2,464,951 238,71 0.00 2,703,666.82
Specified Over-
Over- Collateral
Collateral Deficit
Amount Amount
<S> <S> <S>
Trust B 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 N/A
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 0.00
Cumulative Number of Mortgage loans repurchased to date 2
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 721,917.02
Principal Collected: 208,727.59
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 96,005.45
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: 224,400.00
Trust Termination Proceeds: -
Investment Earnings on Note Account: 911.52
Sum of the Above Amounts: 1,251,961.58
LESS:
Servicing Fees (including PPIS): 37,748.90
Dealer Reserve: -
Indenture Trustee Fees: 597.71
Owner Trustee Fees: 69.44
Insurance Premiums: 12,916.67
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 51,332.72
Total Available Funds: 1,200,628.86
</TABLE>
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