|
|
|
|
|
|
|
|
|
UNITED STATES
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 (Date of earliest event reported): December 28, 1998
CENTEX HOME EQUITY LOAN TRUST 1998-4
New York (governing law of 333-54027 PENDING
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway 21044
Columbia, MD (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On December 28, 1998 a distribution was made to holders of CENTEX HOME
EQUITY LOAN TRUST 1998-4.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of
Regulation S-K
Exhibit Number Description
Monthly report distributed to holders of
EX-99.1 Centex Home Equity Loan Trust, Series
1998-4, relating to the December
28, 1998 distribution.
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 hereunto duly authorized.
CENTEX HOME EQUITY LOAN TRUST 1998-4
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 12/30/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Centex
Home Equity Corporation, Mortgage Pass-Through
Certificates, Series 1998-4, relating to the
December 28, 1998 distribution.
<TABLE>
<CAPTION>
Centex Home Equity Corporation
Mortgage Pass-Through Certificates
Record Date: 11/30/1998
Distribution Date: 12/28/1998
CHEC Series: 1998-4
Contact: Customer Service - Columbia, MD
Norwest Bank Minnesota, N.A.
Securities Administration Services
11000 Broken Land Parkway
Columbia, MD 21044
Telephone: (301) 815-6600
Fax: (410) 884-2369
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
R CTX98004R R 0.00000% 0.00 0.00 0.00
A-1 152314AU4 SEQ 6.71000% 137,433,000.00 768,479.52 1,128,230.54
A-2 152314AV2 SEQ 5.59891% 51,423,000.00 271,917.60 432,749.30
OC CTX9804OC SUB 0.00000% 10,214.83 0.00 0.00
Totals 188,866,214.83 1,040,397.12 1,560,979.84
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
R 0.00 0.00 0.00 0.00
A-1 0.00 136,304,769.46 1,896,710.06 0.00
A-2 0.00 50,990,250.70 704,666.90 0.00
OC 0.00 107,231.46 0.00 0.00
Totals 0.00 187,402,251.62 2,601,376.96 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
Edward M. Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
R 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
A-1 137,433,000.00 137,433,000.00 110,535.40 1,017,695.14 0.00 0.00
A-2 51,423,000.00 51,423,000.00 13,576.18 419,173.12 0.00 0.00
OC 10,214.83 10,214.83 0.00 0.00 0.00 0.00
Totals 188,866,214.83 188,866,214.83 124,111.58 1,436,868.26 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
R 0.00 0.00 0.00000000 0.00
R 0.00 0.00 0.00000000 0.00
A-1 1,128,230.54 136,304,769.46 0.99179069 1,128,230.54
A-2 432,749.30 50,990,250.70 0.99158452 432,749.30
OC 0.00 107,231.46 10.49762551 0.00
Totals 1,560,979.84 187,402,251.62 0.99224868 1,560,979.84
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1 137,433,000.00 1000.00000000 0.80428572 7.40502747 0.00000000
A-2 51,423,000.00 1000.00000000 0.26400988 8.15147152 0.00000000
OC 10,214.83 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
All denominations are Per $1000
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 8.20931319 991.79068681 0.99179069 8.20931319
A-2 0.00000000 8.41548140 991.58451860 0.99158452 8.41548140
OC 0.00000000 0.00000000 10,497.62551114 10.49762551 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
R 0.00 0.00000% 0.00 0.00 0.00 0.00
A-1 137,433,000.00 6.71000% 137,433,000.00 768,479.52 0.00 0.00
A-2 51,423,000.00 5.59891% 51,423,000.00 271,917.60 0.00 0.00
OC 10,214.83 0.00000% 10,214.83 0.00 0.00 0.00
Totals 188,866,214.83 1,040,397.12 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
R 0.00 0.00 0.00 0.00 0.00
A-1 0.00 0.00 768,479.52 0.00 136,304,769.46
A-2 0.00 0.00 271,917.60 0.00 50,990,250.70
OC 0.00 0.00 0.00 0.00 107,231.46
Totals 0.00 0.00 1,040,397.12 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
A-1 137,433,000.00 6.71000% 1000.00000000 5.59166663 0.00000000 0.00000000
A-2 51,423,000.00 5.59891% 1000.00000000 5.28785952 0.00000000 0.00000000
OC 10,214.83 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
All denominations are Per $1000
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 0.00000000 5.59166663 0.00000000 991.79068681
A-2 0.00000000 0.00000000 5.28785952 0.00000000 991.58451860
OC 0.00000000 0.00000000 0.00000000 0.00000000 10497.62551114
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Rate Balance Balance Balance Balance Percentage
Class
<S> <C> <C> <C> <C> <C> <C>
FSA 0.17000% 188,856,000.00 187,294,702.11 0.00 0.00 99.17328658%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 2,707,613.30
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 2,707,613.30
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 106,236.34
Payment of Interest and Principal 2,601,376.96
Total Withdrawals (Pool Distribution Amount) 2,707,613.30
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall -0.02
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 78,694.28
Trustee Fee 787.46
Group 1 FSA Premium 19,469.68
Group 2 FSA Premium 7,284.92
Master Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 106,236.34
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Financial Guaranty 0.00 0.00 0.00 0.00
Financial Guaranty 0.00 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 11 845,470.63 0.394265% 0.451153%
60 Days 2 187,067.47 0.071685% 0.099821%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 1 43,958.13 0.035842% 0.023457%
REO 0 0.00 0.000000% 0.000000%
Totals 14 1,076,496.23 0.501792% 0.574431%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 9,787.03
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed Mixed & 6 Month LIBOR
Weighted Average Gross Coupon 0.000000%
Weighted Average Net Coupon 7.401777%
Weighted Average Pass-Through Rate 7.396784%
Weighted Average Maturity(Stepdown Calculation ) 323
Begin Scheduled Collateral Loan Count 2,803
Number Of Loans Paid In Full 13
End Scheduled Collateral Loan Count 2,790
Begining Scheduled Collateral Balance 188,866,214.83
Ending Scheduled Collateral Balance 187,402,093.12
Ending Actual Collateral Balance at 30-Nov-1998 187,402,251.19
Monthly P &I Constant 1,368,079.27
Ending Scheduled Balance for Premium Loans 187,402,093.12
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2
Collateral Description Mixed Fixed 6 Month LIBOR ARM
Weighted Average Coupon Rate 7.914706 7.867246
Weighted Average Net Rate 7.409706 7.362246
Weighted Average Maturity 323.00 323.00
Beginning Loan Count 2,275 528
Loans Paid In Full 11 2
Ending Loan Count 2,264 526
Beginning Scheduled Balance 137,442,781.22 51,423,433.10
Ending scheduled Balance 136,375,277.03 51,026,816.09
Record Date 11/30/1998 11/30/1998
Principal And Interest Constant 1,017,051.46 351,027.81
Scheduled Principal 110,535.40 13,893.80
Unscheduled Principal 956,968.79 382,882.76
Scheduled Interest 906,516.06 337,134.01
Servicing Fees 57,267.86 21,426.42
Master Servicing Fees 0.00 0.00
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 572.68 214.28
Pool Insurance Fee 0.00 0.00
Spread Fee 1 0.00 0.00
Spread Fee 2 0.00 0.00
Spread Fee 3 0.00 0.00
Net Interest 848,675.52 315,493.31
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
1 2
Group ID 70,507.57 36,723.89
Subordinate Amount 0.00 0.00
Subordinate Reduction Amount 5,016,661.53 2,956,847.41
Required Subordinate Amount 5,006,880.31 2,956,254.76
Subordinate Increase Amount 60,726.35 36,290.79
Extra Principal Distribution Amount 60,726.35 36,290.79
Excess Cash Amount
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C> <C> <C> <C> <C> <C>
Group
30 Days 60 Days 90 + Days Foreclosure REO Bankruptc
1 Principal Balance 437,372.18 13,678.74 0.00 43,958.13 0.00 0.00
Percentage Of Balanc 0.321% 0.010% 0.000% 0.032% 0.000% 0.000%
Loan Count 7 1 0 1 0 0
Percentage Of Loans 0.309% 0.044% 0.000% 0.044% 0.000% 0.000%
2 Principal Balance 408,098.45 173,388.73 0.00 0.00 0.00 0.00
Percentage Of Balanc 0.800% 0.340% 0.000% 0.000% 0.000% 0.000%
Loan Count 4 1 0 0 0 0
Percentage Of Loans 0.760% 0.190% 0.000% 0.000% 0.000% 0.000%
</TABLE>
|
|