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Previous: ADVANTA MORTGAGE LOAN TRUST 1998-4B, 8-K, 2000-01-04 |
Next: TROY FINANCIAL CORP, S-8, 2000-01-04 |
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 24, 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 November 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 November 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 November 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
December 31, 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 650,000,000 550,476,37 2,981,59 9,461,5 12,443,102.74
A Certificate 1,218,59 1,218,597.82
Totals 650,000,000 550,476,37 4,200,19 9,461,5 13,661,700.56
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 541,014,867. 6.290000% 7.181250%
A Certificate NA NA
Totals 541,014,867.87
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 846.886733 4.587068 14.556167 19.143235 832.330566
A Certificate 0.000000 1.874766 0.000000 1.874766 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 14,109,961.48 3,293,784.34 847,916.83 8,135,252.15 1,899,062.92
% of Pool Balan 2.49398% 0.58219% 0.14987% 1.43793% 0.33567%
Number of Loans 264 68 20 135 35
% of Loans 2.94873% 0.75952% 0.22339% 1.50787% 0.39093%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 11,407,277.14
% of Pool Balan 2.01627%
Number of Loans 211
% of Loans 2.35675%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 575,222,596.28
Prefunding 0.00
Principal Reduction 9,461,508.61
Ending Aggregate Mortgage Loan Balance 565,761,087.67
Beginning Aggregate Mortgage Loan Count 9108
Ending Aggregate Mortgage Loan Count 8953
Current Weighted Average Coupon Rate 9.621357%
Next Weighted Average Coupon Rate 9.611112%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 802,892.70
Curtailments 0.00
Prepayments 8,246,657.12
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 411,958.79
Other Principal 0.00
Less: Realized Losses (101,715.40)
Total Principal Reduction 9,359,793.21
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 239,676.08
Less: Amounts to Cover Interest Shortfalls 2,994.59
Less: Delinquent Service Fees 61,204.13
Collected Servicing Fees for Current Period: 175,477.36
Advanced Principal N/A
Advanced Interest 1,186,346.07
</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 8,246,6 411 9,359,79 -
-
Total 8,246,6 411 9,359,79 -
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 24,746,219.80 101,715.40 0.00 24,746,219.80
Total 24,746,219 101, 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 0.018283
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 2,169,591.28
Cumulative Number of Mortgage loans repurchased to date 11
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 20,721.51
Unreimbursed Delinquent/Servicing Advances Paid Back to Certificateholder This Period 0.00
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 3,364,468.31
Principal Collected: 9,049,549.82
Insurance Proceeds Received: -
Net Liquidation Proceeds: 310,243.39
Delinquency Advances on Mortgage Interest: 1,186,346.07
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 13,677.00
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: 13,924,284.59
LESS:
Servicing Fees (including PPIS): 178,471.95
Non Recoverable Advance 122.38
Indenture Trustee Fees: 3,355.47
Owner Trustee Fees: 277.78
Insurance Premiums: 59,634.94
Reimbursement of Delinquency Advances/Servicin 20,721.51
Total Reductions to Available Funds Amount: 262,584.03
Total Available Funds: 13,661,700.56
</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 350,000,000 299,889,11 1,624,31 5,432,6 7,056,977.20
B Certificate 645,8 645,817.76
Totals 350,000,000 299,889,11 2,270,13 5,432,6 7,702,794.96
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 294,456,452. 6.290000% 7.181250%
B Certificate NA NA
Totals 294,456,452.18
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 856.826038 4.640903 15.521889 20.162792 841.304149
B Certificate 0.000000 0.993566 0.000000 0.993566 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 7,635,184.19 1,433,308.55 615,450.87 3,707,633.19 1,457,884.48
% of Pool Balan 2.48072% 0.46569% 0.19996% 1.20463% 0.47368%
Number of Loans 142 28 9 62 21
% of Loans 3.48894% 0.68796% 0.22113% 1.52334% 0.51597%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 8,210,104.44
% of Pool Balan 2.66751%
Number of Loans 120
% of Loans 2.94840%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 313,213,986.42
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 5,432,661.14
Ending Aggregate Mortgage Loan Balance 307,781,325.28
Beginning Aggregate Mortgage Loan Count 4,145
Ending Aggregate Mortgage Loan Count 4,070
Current Weighted Average Coupon Rate 9.631125%
Next Weighted Average Coupon Rate 9.625736%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 364,494.59
Curtailments 0.00
Prepayments 4,980,322.84
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 87,843.71
Other Principal 0.00
Less: Realized Losses (72,122.35)
Total Principal Reduction 5,360,538.79
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 130,505.83
Less: Amounts to Cover Interest Shortfalls 2,161.87
Less: Delinquent Service Fees 30,906.35
Collected Servicing Fees for Current Period: 97,437.61
Advanced Principal N/A
Advanced Interest 605,219.48
</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 4,980,3 8 5,360,53 -
- -
Total 4,980,3 8 5,360,53 -
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 72,122.35 0.00 13,324,873.10
Total 13,324,873 72 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 1629718.08
Cumulative Number of Mortgage loans repurchased to date 8
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 14191.99
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 1,877,710.01
Principal Collected: 5,344,817.43
Insurance Proceeds Received: -
Net Liquidation Proceeds: 15,721.36
Delinquency Advances on Mortgage Interest: 605,219.48
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 7,711.00
Capitalized Interest Requirement: 0.00
Capitalized Interest Account Earnings 0.00
Capitalized Interest Account 0.00
Reversal of Realized Loss Amount -
Unreimbursed Delq/Servicing Advances Paid Back 0.00
Sum of the Above Amounts: 7,851,179.28
LESS:
Servicing Fees (including PPIS): 99,599.48
Non-Recoverable Advance -
Indenture Trustee Fees: 1,827.08
Owner Trustee Fees: 277.78
Insurance Premiums: 32,487.99
Reimbursement of Delinquency Advances/Servicin 14,191.99
Total Reductions to Available Funds Amount: 148,384.32
Total Available Funds: 7,702,794.96
</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 81,679,4 431,8 1,871,9 2,303,800.20
C Certificate 166,2 166,200.63
Totals 100,000,000 81,679,4 598,0 1,871,9 2,470,000.83
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 79,807,487 6.140000% 7.031250%
C Certificate NA NA
Totals 79,807,487.49
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 816.794304 4.318573 18.719429 23.038002 798.074875
C Certificate 0.000000 0.255693 0.000000 0.255693 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 2,363,920.18 859,093.77 89,250.00 1,517,839.52 682,937.76
% of Pool Balan 2.79177% 1.01458% 0.10540% 1.79256% 0.80654%
Number of Loans 29 10 1 18 6
% of Loans 3.19383% 1.10132% 0.11013% 1.98238% 0.66079%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 2,902,655.73
% of Pool Balan 3.42801%
Number of Loans 34
% of Loans 3.74449%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 86,546,515.59
Prefunding N/A
Principal Reduction 1,871,942.90
Ending Aggregate Mortgage Loan Balance 84,674,572.69
Beginning Aggregate Mortgage Loan Count 931
Ending Aggregate Mortgage Loan Count 908
Current Weighted Average Coupon Rate 9.576083%
Next Weighted Average Coupon Rate 9.566586%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 51,219.37
Curtailments 0.00
Prepayments 1,662,960.49
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 157,763.04
Other Principal 0.00
Less: Realized Losses (47,433.21)
Total Principal Reduction 1,824,509.69
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 36,061.05
Less: Amounts to Cover Interest Shortfalls 521.51
Less: Delinquent Service Fees 8,837.53
Collected Servicing Fees for Current Period: 26,702.01
Advanced Principal N/A
Advanced Interest 167,282.18
</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 1,662,9 157 1,824,50 -
- -
Total 1,662,9 157 1,824,50 -
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 47,433.21 0.00 4,867,085.20
Total 4,867,08 47 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 0.04
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 778,673.88
Cumulative Number of Mortgage loans repurchased to date 3
Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 235.07
Unreimbursed Delinquent/Servicing Advances Paid Back to Certificateholder This Period 0.00
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 514,527.44
Principal Collected: 1,714,179.86
Insurance Proceeds Received: -
Net Liquidation Proceeds: 110,329.83
Delinquency Advances on Mortgage Interest: 167,282.18
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 2,473.00
Sum of the Above Amounts: 2,508,792.31
LESS:
Servicing Fees (including PPIS): 27,223.52
Non-Recoverable Advance -
Indenture Trustee Fees: 504.85
Owner Trustee Fees: 277.78
Insurance Premiums: 10,550.26
Reimbursement of Delinquency Advances/Servicin 235.07
Total Reductions to Available Funds Amount: 38,791.48
Total Available Funds: 2,470,000.83
</TABLE>
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