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Previous: ADVANTA MORTGAGE LOAN TRUST 1998-4C, 8-K, 1999-04-08 |
Next: FIRST CAPITAL BANK HOLDING CORP, SB-2/A, 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: February 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: 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 January, 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 January, 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 January, 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
February 26, 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. 642,012,645. 3,117,870 5,337,95 8,455,823.59
A Certificate -
Totals 650,000,000. 642,012,645. 3,117,870 5,337,95 8,455,823.59
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 636,674,691. 5.639690% 5.636880%
A Certificate NA NA
Totals 636,674,691.83
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 987.711762 4.796723 8.212236 13.008959 979.499526
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 11,988,564.39 2,277,182.68 339,822.76 576,898.29 87,500.00
% of Pool Balan 1.84137% 0.34976% 0.05219% 0.08861% 0.01344%
Number of Loans 220 43 6 9 1
% of Loans 2.14362% 0.41898% 0.05846% 0.08769% 0.00974%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 2,360,765.87
% of Pool Balan 0.36260%
Number of Loans 38
% of Loans 0.37026%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 595,818,398.48
Prefunding 58,753,671.37
Principal Reduction 3,502,949.65
Ending Aggregate Mortgage Loan Balance 651,069,120.20
Beginning Aggregate Mortgage Loan Count 10319
Ending Aggregate Mortgage Loan Count 10263
Current Weighted Average Coupon Rate 9.702811%
Next Weighted Average Coupon Rate 9.701778%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 842,088.13
Curtailments (121.56)
Prepayments 2,559,014.51
Repurchases 101,968.57
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 3,502,949.65
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 272,738.36
Less: Amounts to Cover Interest Shortfalls 515.10
Less: Delinquent Service Fees 42,996.16
Collected Servicing Fees for Current Period: 229,227.10
Advanced Principal NA
Advanced Interest 856,380.35
</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 2,559,01 101,84 3,502,949 -
-
Total 2,559,01 101,84 3,502,949 -
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 0.00 1,835,003.91 0.00 14,394,428.37
Total 1,835,00 0.00 14,394,428.37
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 93,310.00
Cumulative Number of Mortgage loans repurchased to date 1
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 4,393,280.89
Principal Collected: 3,400,981.08
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 856,380.35
Delinquency Advances on Mortgage Principal NA
Substitution Amounts: 101,968.57
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 6,394.05
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: 8,759,004.94
LESS:
Servicing Fees (including PPIS): 229,742.20
Dealer Reserve: -
Indenture Trustee Fees: 3,818.34
Owner Trustee Fees: 69.44
Insurance Premiums: 69,551.37
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 303,181.35
Total Available Funds: 8,455,823.59
</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. 346,863,943. 1,684,509 1,817,10 3,501,615.54
B Certificate 1,879,351 1,879,351.72
Totals 350,000,000. 346,863,943. 3,563,861 1,817,10 5,380,967.26
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 345,046,838. 5.639690% 5.636880%
B Certificate NA NA
Totals 345,046,838.37
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 991.039840 4.812886 5.191730 10.004616 985.848110
B Certificate 0.000000 2.891310 0.000000 2.891310 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 5,436,714.43 858,073.00 9,338.68 569,739.21 0.00
% of Pool Balan 2.00439% 0.31635% 0.00344% 0.21005% 0.00000%
Number of Loans 81 10 1 6 0
% of Loans 2.33631% 0.28840% 0.02884% 0.17306% 0.00000%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 583,018.58
% of Pool Balan 0.21495%
Number of Loans 10
% of Loans 0.28843%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 234,868,258.90
Prefunding 37,443,355.28
Principal Reduction 1,071,451.42
Ending Aggregate Mortgage Loan Balance 271,240,162.76
Beginning Aggregate Mortgage Loan Count 3482
Ending Aggregate Mortgage Loan Count 3467
Current Weighted Average Coupon Rate 9.601963%
Next Weighted Average Coupon Rate 9.597816%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 299,100.48
Curtailments (144.60)
Prepayments 728,595.54
Repurchases 43,900.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 1,071,451.42
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 113,463.17
Less: Amounts to Cover Interest Shortfalls 1,086.14
Less: Delinquent Service Fees 15,103.49
Collected Servicing Fees for Current Period: 97,273.54
Advanced Principal NA
Advanced Interest 297,174.69
</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 728,59 43,7 1,071,451 -
- -
Total 728,59 43,7 1,071,451 -
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 80,966,541.81 0.00 745,654.16 0.00 0.00
Total 745,65 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 4
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 1,866,660.12
Principal Collected: 1,027,551.42
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 297,174.69
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: 43,900.00
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 2,641.44
Capitalized Interest Requirement: 157,367.25
Capitalized Interest Fund Earnings 0.00
Capitalized Interest Account 0.00
Investment Earnings on Pre-Funding Account 243,915.15
Remaining Pre-Funding Account: -
Sum of the Above Amounts: 3,639,210.07
LESS:
Servicing Fees (including PPIS): 98,359.68
Dealer Reserve: -
Indenture Trustee Fees: 1,588.48
Owner Trustee Fees: 69.44
Insurance Premiums: 37,576.93
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 137,594.53
Total Available Funds: 3,501,615.54
</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. 98,575,715 465,99 1,066,58 1,532,575.55
C Certificate -
Totals 100,000,000. 98,575,715 465,99 1,066,58 1,532,575.55
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 97,509,130. 5.489690% 5.486880%
C Certificate NA NA
Totals 97,509,130.14
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 985.757153 4.659904 10.665852 15.325756 975.091301
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 2,284,097.95 587,469.12 0.00 396,625.24 0.00
% of Pool Balan 2.26606% 0.58283% 0.00000% 0.39349% 0.00000%
Number of Loans 31 7 0 4 0
% of Loans 2.87570% 0.64935% 0.00000% 0.37106% 0.00000%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 485,314.89
% of Pool Balan 0.48148%
Number of Loans 7
% of Loans 0.64935%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 101,567,122.56
Prefunding N/A
Principal Reduction 771,215.56
Ending Aggregate Mortgage Loan Balance 100,795,907.00
Beginning Aggregate Mortgage Loan Count 1086
Ending Aggregate Mortgage Loan Count 1078
Current Weighted Average Coupon Rate 9.639817%
Next Weighted Average Coupon Rate 9.634717%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 45,948.28
Curtailments 0.00
Prepayments 725,267.28
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 771,215.56
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 42,319.63
Less: Amounts to Cover Interest Shortfalls 32.46
Less: Delinquent Service Fees 6,877.24
Collected Servicing Fees for Current Period: 35,409.93
Advanced Principal NA
Advanced Interest 131,002.47
</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 725,26 771,21 -
- -
Total 725,26 771,21 -
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 2,991,407.25 295,369.61 0.00 3,286,776.86
Total 2,991,407 295,36 0.00 3,286,776.86
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 3
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 678,027.31
Principal Collected: 771,215.56
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 131,002.47
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 1,167.21
Sum of the Above Amounts: 1,581,412.55
LESS:
Servicing Fees (including PPIS): 35,442.39
Dealer Reserve: -
Indenture Trustee Fees: 592.47
Owner Trustee Fees: 69.44
Insurance Premiums: 12,732.70
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 48,837.00
Total Available Funds: 1,532,575.55
</TABLE>
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