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Previous: ADVANTA MORTGAGE LOAN TRUST 1998-4B, 8-K, 1999-10-06 |
Next: NAVARONE INC, 10QSB, 1999-10-06 |
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: September 27, 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 August, 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 August, 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 August, 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
September 30, 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 650,000,000 579,225,68 3,206,31 10,404,29 13,610,609.07
A Certificate 1,237,06 1,237,062.47
Totals 650,000,000 579,225,68 4,443,37 10,404,29 14,847,671.54
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 568,821,392. 6.038750% 6.082500%
A Certificate NA NA
Totals 568,821,392.63
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 891.116440 4.932794 16.006605 20.939399 875.109835
A Certificate 0.000000 1.903173 0.000000 1.903173 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 13,619,897.93 2,698,355.52 722,877.09 5,570,087.68 1,070,289.01
% of Pool Balan 2.29458% 0.45460% 0.12179% 0.93841% 0.18031%
Number of Loans 261 64 17 85 21
% of Loans 2.77660% 0.68085% 0.18085% 0.90426% 0.22340%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 9,673,957.18
% of Pool Balan 1.62980%
Number of Loans 177
% of Loans 1.88298%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 603,971,905.65
Prefunding 0.00
Principal Reduction 10,404,293.22
Ending Aggregate Mortgage Loan Balance 593,567,612.43
Beginning Aggregate Mortgage Loan Count 9554
Ending Aggregate Mortgage Loan Count 9400
Current Weighted Average Coupon Rate 9.655072%
Next Weighted Average Coupon Rate 9.644068%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 999,873.57
Curtailments 0.00
Prepayments 8,844,366.11
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 560,053.54
Other Principal 0.00
Less: Realized Losses (82,883.64)
Total Principal Reduction 10,321,409.58
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 251,654.96
Less: Amounts to Cover Interest Shortfalls 4,737.86
Less: Delinquent Service Fees 58,484.35
Collected Servicing Fees for Current Period: 188,432.75
Advanced Principal N/A
Advanced Interest 1,145,425.49
</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 8,844,3 560 10,321,409 -
-
Total 8,844,3 560 10,321,409 -
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 82,883.64 0.00 24,746,219.80
Total 24,746,219 82 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 0.012285
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 1,191,432.89
Cumulative Number of Mortgage loans repurchased to date 11
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 29,594.41
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 3,655,583.54
Principal Collected: 9,844,239.68
Insurance Proceeds Received: -
Net Liquidation Proceeds: 477,169.90
Delinquency Advances on Mortgage Interest: 1,145,425.49
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 14,499.67
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: 15,136,918.28
LESS:
Servicing Fees (including PPIS): 193,170.61
Non Recoverable Advance 209.10
Indenture Trustee Fees: 3,523.17
Owner Trustee Fees: 0
Insurance Premiums: 62,749.45
Reimbursement of Delinquency Advances/Servicin 29,594.41
Total Reductions to Available Funds Amount: 289,246.74
Total Available Funds: 14,847,671.54
</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 350,000,000 313,074,16 1,733,02 5,062,2 6,795,315.43
B Certificate 586,1 586,152.30
Totals 350,000,000 313,074,16 2,319,18 5,062,2 7,381,467.73
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 308,011,879. 6.038750% 6.082500%
B Certificate NA NA
Totals 308,011,879.39
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 894.497618 4.951510 14.463677 19.415187 880.033941
B Certificate 0.000000 0.901773 0.000000 0.901773 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 6,323,379.00 2,695,968.15 552,154.75 2,170,399.59 438,242.09
% of Pool Balan 1.96784% 0.83899% 0.17183% 0.67543% 0.13638%
Number of Loans 114 40 12 34 10
% of Loans 2.67983% 0.94029% 0.28209% 0.79925% 0.23507%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 6,487,807.57
% of Pool Balan 2.01901%
Number of Loans 99
% of Loans 2.32722%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 326,255,824.98
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 4,919,072.49
Ending Aggregate Mortgage Loan Balance 321,336,752.49
Beginning Aggregate Mortgage Loan Count 4316
Ending Aggregate Mortgage Loan Count 4254
Current Weighted Average Coupon Rate 9.663181%
Next Weighted Average Coupon Rate 9.649039%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 719,530.40
Curtailments 0.00
Prepayments 4,199,542.09
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 4,919,072.49
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 135,939.93
Less: Amounts to Cover Interest Shortfalls 1,271.13
Less: Delinquent Service Fees 29,854.32
Collected Servicing Fees for Current Period: 104,814.48
Advanced Principal N/A
Advanced Interest 587,851.96
</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 4,199,5 4,919,07 -
- -
Total 4,199,5 4,919,07 -
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 0.00 13,181,658.73 143,214.37 0.00 13,324,873.10
Total 13,181,658 143, 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 0.01
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 478,794.84
Cumulative Number of Mortgage loans repurchased to date 8
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 280.96
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 2,009,517.86
Principal Collected: 4,919,072.49
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 587,851.96
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 7,211.52
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: 7,523,653.83
LESS:
Servicing Fees (including PPIS): 106,085.61
Dealer Reserve: -
Indenture Trustee Fees: 1,903.16
Owner Trustee Fees: 0
Insurance Premiums: 33,916.37
Reimbursement of Delinquency Advances/Servicin 280.96
Total Reductions to Available Funds Amount: 142,186.10
Total Available Funds: 7,381,467.73
</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 87,505,3 472,3 2,447,4 2,919,823.91
C Certificate 220,1 220,164.24
Totals 100,000,000 87,505,3 692,5 2,447,4 3,139,988.15
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 85,057,834 5.888750% 5.932500%
C Certificate NA NA
Totals 85,057,834.40
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 875.053029 4.723555 24.474685 29.198239 850.578344
C Certificate 0.000000 0.338714 0.000000 0.338714 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 1,792,369.53 162,819.03 53,083.32 1,333,514.87 138,950.03
% of Pool Balan 1.99318% 0.18106% 0.05903% 1.48292% 0.15452%
Number of Loans 24 2 1 16 2
% of Loans 2.48190% 0.20683% 0.10341% 1.65460% 0.20683%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 3,963,366.66
% of Pool Balan 4.40742%
Number of Loans 41
% of Loans 4.23992%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 92,372,388.06
Prefunding N/A
Principal Reduction 2,447,468.46
Ending Aggregate Mortgage Loan Balance 89,924,919.60
Beginning Aggregate Mortgage Loan Count 992
Ending Aggregate Mortgage Loan Count 967
Current Weighted Average Coupon Rate 9.610477%
Next Weighted Average Coupon Rate 9.592615%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 48,694.88
Curtailments 0.00
Prepayments 2,398,773.58
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 2,447,468.46
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 38,488.49
Less: Amounts to Cover Interest Shortfalls 1,410.75
Less: Delinquent Service Fees 7,998.32
Collected Servicing Fees for Current Period: 29,079.42
Advanced Principal N/A
Advanced Interest 152,578.29
</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 2,398,7 2,447,46 -
- -
Total 2,398,7 2,447,46 -
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 0.00 0.00 4,867,085.20
Total 4,867,08 0.00 4,867,085.20
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 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 154,044.84
Cumulative Number of Mortgage loans repurchased to date 3
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 0.00
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 579,208.98
Principal Collected: 2,447,468.46
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 152,578.29
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 3,064.20
Sum of the Above Amounts: 3,182,319.93
LESS:
Servicing Fees (including PPIS): 30,490.17
Dealer Reserve: -
Indenture Trustee Fees: 538.84
Owner Trustee Fees: 0
Insurance Premiums: 11,302.77
Reimbursement of Delinquency Advances/Servicin -
Total Reductions to Available Funds Amount: 42,331.78
Total Available Funds: 3,139,988.15
</TABLE>
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