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Previous: ADVANTA MORTGAGE LOAN TRUST 1998-4B, 8-K, 1999-05-03 |
Next: TC PIPELINES LP, S-1/A, 1999-05-03 |
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: April 26, 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: 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 March, 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 March, 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 March, 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/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
April 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. 629,350,508. 3,154,444 8,637,49 11,791,939.87
A Certificate -
Totals 650,000,000. 629,350,508. 3,154,444 8,637,49 11,791,939.87
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 620,713,013. 5.638750% 5.612500%
A Certificate NA NA
Totals 620,713,013.05
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 968.231551 4.852992 13.288454 18.141446 954.943097
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 12,684,498.46 2,781,633.26 527,260.42 1,591,050.02 151,249.78
% of Pool Balan 1.98513% 0.43533% 0.08252% 0.24900% 0.02367%
Number of Loans 224 56 9 22 3
% of Loans 2.22112% 0.55528% 0.08924% 0.21815% 0.02975%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 3,970,845.77
% of Pool Balan 0.62144%
Number of Loans 72
% of Loans 0.71393%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 645,880,982.17
Prefunding 0.00
Principal Reduction 6,903,763.94
Ending Aggregate Mortgage Loan Balance 638,977,218.23
Beginning Aggregate Mortgage Loan Count 10191
Ending Aggregate Mortgage Loan Count 10085
Current Weighted Average Coupon Rate 9.695748%
Next Weighted Average Coupon Rate 9.689192%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 987,983.32
Curtailments (500.00)
Prepayments 5,916,280.62
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 6,903,763.94
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 269,117.08
Less: Amounts to Cover Interest Shortfalls 6,105.65
Less: Delinquent Service Fees 44,661.61
Collected Servicing Fees for Current Period: 218,349.82
Advanced Principal N/A
Advanced Interest 887,808.20
</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 5,916,28 6,903,763 -
-
Total 5,916,28 6,903,763 -
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 16,530,473.85 1,733,731.33 0.00 18,264,205.18
Total 16,530,473. 1,733,73 0.00 18,264,205.18
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 161,269.00
Cumulative Number of Mortgage loans repurchased to date 11
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 4,286,112.93
Principal Collected: 6,903,763.94
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 887,808.20
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 10,726.99
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: 12,088,412.06
LESS:
Servicing Fees (including PPIS): 224,455.47
Dealer Reserve: -
Indenture Trustee Fees: 3,767.64
Owner Trustee Fees: 69.44
Insurance Premiums: 68,179.64
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 296,472.19
Total Available Funds: 11,791,939.87
</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. 341,233,738. 1,710,339 3,672,45 5,382,799.03
B Certificate -
Totals 350,000,000. 341,233,738. 1,710,339 3,672,45 5,382,799.03
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 337,561,278. 5.638750% 5.612500%
B Certificate NA NA
Totals 337,561,278.66
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 974.953538 4.886684 10.492742 15.379426 964.460796
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 6,077,469.61 2,501,040.94 447,834.54 957,117.86 40,123.76
% of Pool Balan 1.75244% 0.72118% 0.12913% 0.27599% 0.01157%
Number of Loans 96 36 6 12 1
% of Loans 2.10572% 0.78965% 0.13161% 0.26322% 0.02193%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 1,686,040.58
% of Pool Balan 0.48617%
Number of Loans 35
% of Loans 0.76771%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 349,542,179.24
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 2,741,971.01
Ending Aggregate Mortgage Loan Balance 346,800,208.23
Beginning Aggregate Mortgage Loan Count 4596
Ending Aggregate Mortgage Loan Count 4559
Current Weighted Average Coupon Rate 9.683445%
Next Weighted Average Coupon Rate 9.680704%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 434,470.73
Curtailments 0.00
Prepayments 2,260,161.60
Repurchases 47,338.68
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 2,741,971.01
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 145,642.58
Less: Amounts to Cover Interest Shortfalls 1,852.84
Less: Delinquent Service Fees 23,284.89
Collected Servicing Fees for Current Period: 120,504.85
Advanced Principal N/A
Advanced Interest 464,598.63
</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 2,260,16 47,3 2,741,971 -
- -
Total 2,260,16 47,3 2,741,971 -
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 8,308,440.88 930,488.69 0.00 9,238,929.57
Total 8,308,440 930,48 0.00 9,238,929.57
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 43,233.00
Cumulative Number of Mortgage loans repurchased to date 7
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 2,332,760.23
Principal Collected: 2,694,632.33
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 464,598.63
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: 47,338.68
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 4,902.28
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: 5,544,232.15
LESS:
Servicing Fees (including PPIS): 122,357.69
Dealer Reserve: -
Indenture Trustee Fees: 2,039.00
Owner Trustee Fees: 69.44
Insurance Premiums: 36,966.99
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 161,433.12
Total Available Funds: 5,382,799.03
</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. 96,115,409 468,93 1,557,42 2,026,362.06
C Certificate -
Totals 100,000,000. 96,115,409 468,93 1,557,42 2,026,362.06
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 94,557,983. 5.488750% 5.462500%
C Certificate NA NA
Totals 94,557,983.48
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 961.154091 4.689364 15.574257 20.263621 945.579835
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 2,627,698.85 704,437.25 58,973.18 446,112.18 52,200.00
% of Pool Balan 2.66872% 0.71543% 0.05989% 0.45308% 0.05301%
Number of Loans 28 9 1 5 1
% of Loans 2.65152% 0.85227% 0.09470% 0.47348% 0.09470%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 1,444,718.32
% of Pool Balan 1.46727%
Number of Loans 16
% of Loans 1.51515%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 99,741,473.87
Prefunding N/A
Principal Reduction 1,278,496.05
Ending Aggregate Mortgage Loan Balance 98,462,977.82
Beginning Aggregate Mortgage Loan Count 1068
Ending Aggregate Mortgage Loan Count 1056
Current Weighted Average Coupon Rate 9.632669%
Next Weighted Average Coupon Rate 9.629666%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 57,996.50
Curtailments 0.00
Prepayments 1,220,499.55
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 1,278,496.05
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 41,558.95
Less: Amounts to Cover Interest Shortfalls 0.00
Less: Delinquent Service Fees 6,945.40
Collected Servicing Fees for Current Period: 34,613.55
Advanced Principal N/A
Advanced Interest 133,077.64
</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 1,220,49 1,278,496 -
- -
Total 1,220,49 1,278,496 -
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 3,626,064.73 278,929.61 0.00 3,904,994.34
Total 3,626,064 278,92 0.00 3,904,994.34
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 54,199.00
Cumulative Number of Mortgage loans repurchased to date 3
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 660,624.12
Principal Collected: 1,278,496.05
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 133,077.64
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 1,843.98
Sum of the Above Amounts: 2,074,041.79
LESS:
Servicing Fees (including PPIS): 34,613.55
Dealer Reserve: -
Indenture Trustee Fees: 581.83
Owner Trustee Fees: 69.44
Insurance Premiums: 12,414.91
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 47,679.73
Total Available Funds: 2,026,362.06
</TABLE>
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