STRUCTURED ASSET SEC CORP MORT PAS THR CERT SER 1999-BC1
8-K, 1999-04-08
ASSET-BACKED SECURITIES
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				  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):  March 25, 1999
					
		   STRUCTURED ASSET SECURITIES CORPORATION
	     Mortgage Pass-Through Certificates, Series 1999-BC1 


New York (governing law of          333-68513-01   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, Maryland                                  (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 March 25, 1999 a distribution was made to holders of STRUCTURED ASSET
SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1999-BC1.



  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             Mortgage Pass-Through Certificates, Series 
				 1999-BC1, relating to the March 25, 1999 
				 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.



		  STRUCTURED  ASSET SECURITIES CORPORATION
	     Mortgage Pass-Through Certificates, Series 1999-BC1 

	      By:   The First National Bank of Chicago, as Trustee
	      By:   /s/ Barbara Gross, Vice President
	      By:   Barbara Gross, Vice President
	      Date: 04/07/1999


				INDEX TO EXHIBITS
	       
Exhibit Number                   Description
					 
EX-99.1        Monthly report distributed to holders of Mortgage Pass-Through 
	       Certificates, Series 1999-BC1, relating to the March 25, 1999
	       distribution. 
		




<TABLE>
<CAPTION>
Structured Asset Securities Corporation 
Mortgage Pass-Through Certificates
Record Date:           02/28/1999
Distribution Date:     03/25/1999

SASC  Series: 1999-BC1

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>
     A1        863572YJ6         SEQ          5.41688%    246,988,368.94    1,040,593.81    7,142,726.62
     A2        863572YK3         SEQ          5.36688%   1,196,317,958.3    4,993,718.27   25,046,412.94
    AIO        863572YP2         IO           4.00000%              0.00    1,638,006.69            0.00
     M1        863572YL1         SEQ          5.73688%    142,808,000.00      637,211.83            0.00
     M2        863572YM9         SEQ          6.23688%     79,825,000.00      387,223.62            0.00
     B         863572YN7         SEQ          7.68688%     74,035,000.00      442,631.90            0.00
     X1        SAC9901X1         IO           0.00000%              0.00            0.00            0.00
     X2        SAC9901X2         IO           0.00000%              0.00            0.00            0.00
     P         SAC99001P         IO           0.00000%              0.00      307,386.94            0.00
     OC        SAC9901OC         OC           0.00000%      4,502,593.78            0.00            0.00
     R1        SAC9901R1         RES          0.00000%              0.00            0.00            0.00
     R2        SAC9901R2         RES          0.00000%              0.00            0.00            0.00
     R3        SAC9901R3         RES          0.00000%              0.00            0.00            0.00
     R4        SAC9901R4         RES          0.00000%              0.00            0.00            0.00
     R5        SAC9901R5         RES          0.00000%              0.00            0.00            0.00
Totals                                                   1,744,476,921.1    9,446,773.06   32,189,139.56
</TABLE>
<TABLE> 
<CAPTION> 

				       Certificateholder Distribution Summary (continued)

			  Current                Ending                                       Cumulative
			 Realized           Certificate                   Total                 Realized
Class                        Loss               Balance            Distribution                   Losses
<S>           <C>                  <C>                     <C>                      <C>
A1                             0.00         239,845,642.32             8,183,320.43                      0.00
A2                             0.00       1,171,271,545.44            30,040,131.21                      0.00
AIO                            0.00                   0.00             1,638,006.69                      0.00
M1                             0.00         142,808,000.00               637,211.83                      0.00
M2                             0.00          79,825,000.00               387,223.62                      0.00
B                              0.00          74,035,000.00               442,631.90                      0.00
X1                             0.00                   0.00                     0.00                      0.00
X2                             0.00                   0.00                     0.00                      0.00
P                              0.00                   0.00               307,386.94                      0.00
OC                             0.00           9,051,013.65                     0.00                      0.00
R1                             0.00                   0.00                     0.00                      0.00
R2                             0.00                   0.00                     0.00                      0.00
R3                             0.00                   0.00                     0.00                      0.00
R4                             0.00                   0.00                     0.00                      0.00
R5                             0.00                   0.00                     0.00                      0.00
Totals                         0.00       1,716,836,201.41            41,635,912.62                      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>
A1                  251,958,000.00     246,988,368.94        192,210.21     6,950,516.41           0.00            0.00
A2                 1,220,747,000.0   1,196,317,958.39        979,515.52    24,066,897.42           0.00            0.00
AIO                           0.00               0.00              0.00             0.00           0.00            0.00
M1                  142,808,000.00     142,808,000.00              0.00             0.00           0.00            0.00
M2                   79,825,000.00      79,825,000.00              0.00             0.00           0.00            0.00
B                    74,035,000.00      74,035,000.00              0.00             0.00           0.00            0.00
X1                            0.00               0.00              0.00             0.00           0.00            0.00
X2                            0.00               0.00              0.00             0.00           0.00            0.00
P                             0.00               0.00              0.00             0.00           0.00            0.00
OC                          732.39       4,502,593.78              0.00             0.00           0.00            0.00
R1                            0.00               0.00              0.00             0.00           0.00            0.00
R2                            0.00               0.00              0.00             0.00           0.00            0.00
R3                            0.00               0.00              0.00             0.00           0.00            0.00
R4                            0.00               0.00              0.00             0.00           0.00            0.00
R5                            0.00               0.00              0.00             0.00           0.00            0.00
Totals            1,769,373,732.39   1,744,476,921.11      1,171,725.73    31,017,413.83            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>
A1                            7,142,726.62        239,845,642.32           0.95192708      7,142,726.62
A2                           25,046,412.94      1,171,271,545.44           0.95947116     25,046,412.94
AIO                                   0.00                  0.00           0.00000000              0.00
M1                                    0.00        142,808,000.00           1.00000000              0.00
M2                                    0.00         79,825,000.00           1.00000000              0.00
B                                     0.00         74,035,000.00           1.00000000              0.00
X1                                    0.00                  0.00           0.00000000              0.00
X2                                    0.00                  0.00           0.00000000              0.00
P                                     0.00                  0.00           0.00000000              0.00
OC                                    0.00          9,051,013.65      12,358.18846516              0.00
R1                                    0.00                  0.00           0.00000000              0.00
R2                                    0.00                  0.00           0.00000000              0.00
R3                                    0.00                  0.00           0.00000000              0.00
R4                                    0.00                  0.00           0.00000000              0.00
R5                                    0.00                  0.00           0.00000000              0.00
Totals                       32,189,139.56      1,716,836,201.41           0.97030727     32,189,139.56
</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>
A1                    251,958,000.00        980.27595448         0.76286607         27.58601199        0.00000000
A2                  1,220,747,000.00        979.98844838         0.80239027         19.71489377        0.00000000
AIO                             0.00          0.00000000         0.00000000          0.00000000        0.00000000
M1                    142,808,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
M2                     79,825,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
B                      74,035,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
X1                              0.00          0.00000000         0.00000000          0.00000000        0.00000000
X2                              0.00          0.00000000         0.00000000          0.00000000        0.00000000
P                               0.00          0.00000000         0.00000000          0.00000000        0.00000000
OC                            732.39    6147808.92693783         0.00000000          0.00000000        0.00000000
R1                              0.00          0.00000000         0.00000000          0.00000000        0.00000000
R2                              0.00          0.00000000         0.00000000          0.00000000        0.00000000
R3                              0.00          0.00000000         0.00000000          0.00000000        0.00000000
R4                              0.00          0.00000000         0.00000000          0.00000000        0.00000000
R5                              0.00          0.00000000         0.00000000          0.00000000        0.00000000
<FN>

</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>
A1                      0.00000000         28.34887807            951.92707642          0.95192708        28.34887807
A2                      0.00000000         20.51728404            959.47116433          0.95947116        20.51728404
AIO                     0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
M1                      0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
M2                      0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
B                       0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
X1                      0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
X2                      0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
P                       0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
OC                      0.00000000          0.00000000       12,358,188.465162      12358.18846516         0.00000000
R1                      0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
R2                      0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
R3                      0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
R4                      0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
R5                      0.00000000          0.00000000              0.00000000          0.00000000         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>
A1                251,958,000.00        5.41688%     246,988,368.94        1,040,593.83           0.00             0.00
A2               1,220,747,000.0        5.36688%   1,196,317,958.39        4,993,718.27           0.00             0.00
AIO                         0.00        4.00000%     491,402,008.60        1,638,006.70           0.00             0.00
M1                142,808,000.00        5.73688%     142,808,000.00          637,211.83           0.00             0.00
M2                 79,825,000.00        6.23688%      79,825,000.00          387,223.62           0.00             0.00
B                  74,035,000.00        7.68688%      74,035,000.00          442,631.90           0.00             0.00
X1                          0.00        0.00000%               0.00                0.00           0.00             0.00
X2                          0.00        0.00000%               0.00                0.00           0.00             0.00
P                           0.00        0.00000%               0.00                0.00           0.00             0.00
OC                        732.39        0.00000%       4,502,593.78                0.00           0.00             0.00
R1                          0.00        0.00000%               0.00                0.00           0.00             0.00
R2                          0.00        0.00000%               0.00                0.00           0.00             0.00
R3                          0.00        0.00000%               0.00                0.00           0.00             0.00
R4                          0.00        0.00000%               0.00                0.00           0.00             0.00
R5                          0.00        0.00000%               0.00                0.00           0.00             0.00
Totals          1,769,373,732.39                                           9,139,386.15           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>
 A1                             0.02                0.00         1,040,593.81                0.00     239,845,642.32
 A2                             0.00                0.00         4,993,718.27                0.00   1,171,271,545.44
 AIO                            0.00                0.00         1,638,006.69                0.00     491,402,008.60
 M1                             0.00                0.00           637,211.83                0.00     142,808,000.00
 M2                             0.00                0.00           387,223.62                0.00      79,825,000.00
 B                              0.00                0.00           442,631.90                0.00      74,035,000.00
 X1                             0.00                0.00                 0.00                0.00               0.00
 X2                             0.00                0.00                 0.00                0.00               0.00
 P                              0.00                0.00           307,386.94                0.00               0.00
 OC                             0.00                0.00                 0.00                0.00       9,051,013.65
 R1                             0.00                0.00                 0.00                0.00               0.00
 R2                             0.00                0.00                 0.00                0.00               0.00
 R3                             0.00                0.00                 0.00                0.00               0.00
 R4                             0.00                0.00                 0.00                0.00               0.00
 R5                             0.00                0.00                 0.00                0.00               0.00
 Totals                         0.02                0.00         9,446,773.06                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>
A1                  251,958,000.00        5.41688%         980.27595448        4.13002893        0.00000000        0.00000000
A2                1,220,747,000.00        5.36688%         979.98844838        4.09070698        0.00000000        0.00000000
AIO                           0.00        4.00000%         999.99999998        3.33333334        0.00000000        0.00000000
M1                  142,808,000.00        5.73688%        1000.00000000        4.46201774        0.00000000        0.00000000
M2                   79,825,000.00        6.23688%        1000.00000000        4.85090661        0.00000000        0.00000000
B                    74,035,000.00        7.68688%        1000.00000000        5.97868441        0.00000000        0.00000000
X1                            0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
X2                            0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
P                             0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
OC                          732.39        0.00000%     6147808.92693783        0.00000000        0.00000000        0.00000000
R1                            0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
R2                            0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
R3                            0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
R4                            0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
R5                            0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
<FN>
(5)  Per $1 denomination.

</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>
A1                    0.00000008        0.00000000         4.13002885          0.00000000          951.92707642
A2                    0.00000000        0.00000000         4.09070698          0.00000000          959.47116433
AIO                   0.00000000        0.00000000         3.33333332          0.00000000          999.99999998
M1                    0.00000000        0.00000000         4.46201774          0.00000000         1000.00000000
M2                    0.00000000        0.00000000         4.85090661          0.00000000         1000.00000000
B                     0.00000000        0.00000000         5.97868441          0.00000000         1000.00000000
X1                    0.00000000        0.00000000         0.00000000          0.00000000            0.00000000
X2                    0.00000000        0.00000000         0.00000000          0.00000000            0.00000000
P                     0.00000000        0.00000000   76846735000.0000          0.00000000            0.00000000
OC                    0.00000000        0.00000000         0.00000000          0.00000000     12358188.46516200
R1                    0.00000000        0.00000000         0.00000000          0.00000000            0.00000000
R2                    0.00000000        0.00000000         0.00000000          0.00000000            0.00000000
R3                    0.00000000        0.00000000         0.00000000          0.00000000            0.00000000
R4                    0.00000000        0.00000000         0.00000000          0.00000000            0.00000000
R5                    0.00000000        0.00000000         0.00000000          0.00000000            0.00000000
<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>
      MBIA          1,200.00000%        39,873.00          39,038.00             0.00               0.00     95.94710841%
</TABLE>
<TABLE>
<CAPTION>

						      CERTIFICATE ACCOUNT

<S>                                                                                   <C>
Beginning Balance                                                                                        0.00
Deposits
    Payments of Interest and Principal                                                          41,356,406.50
    Liquidations, Insurance Proceeds, Reserve Funds                                                      0.00
    Proceeds from Repurchased Loans                                                                      0.00
    Other Amounts (Servicer Advances)                                                            1,061,115.12
    Realized Losses                                                                                      0.00
Total Deposits                                                                                  42,417,521.62

Withdrawals
    Reimbursement for Servicer Advances                                                                  0.00
    Payment of Service Fee                                                                         781,609.00
    Payment of Interest and Principal                                                           41,635,912.62
Total Withdrawals (Pool Distribution Amount)                                                    42,417,521.62

Ending Balance                                                                                           0.00

</TABLE>
<TABLE>
<CAPTION>

					    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<S>                                                                                   <C>

Total Prepayment/Curtailment Interest Shortfall                                                          0.00
Servicing Fee Support                                                                                    0.00
Non-Supported Prepayment/Curtailment Interest Shortfall                                                  0.00
</TABLE>
<TABLE>
<CAPTION>

							 SERVICING FEES

<S>                                                                                   <C>
Gross Servicing Fee                                                                                726,865.40
Trustee Fee                                                                                            333.33
MBIA Premium                                                                                        39,873.00
Master Servicing Fee                                                                                14,537.27
Supported Prepayment/Curtailment Interest Shortfall                                                      0.00
Net Servicing Fee                                                                                  781,609.00

</TABLE>
<TABLE>
<CAPTION>
							 OTHER ACCOUNTS

					       Beginning          Current          Current          Ending
Account Type                                     Balance      Withdrawals         Deposits         Balance
<S>                                    <C>                 <C>               <C>              <C>
Reserve Fund                                      1,000.00              0.00              0.03         1,000.03
Reserve Fund                                      1,000.00              0.00              0.00         1,000.00

</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                                 706     67,308,341.39               4.037516%          3.920487%
60 Days                                 305     30,203,644.71               1.744253%          1.759262%
90+ Days                                245     21,372,776.60               1.401121%          1.244893%
Foreclosure                               0              0.00               0.000000%          0.000000%
REO                                       0              0.00               0.000000%          0.000000%
Totals                                1,256     118,884,762.7               7.182889%          6.924642%
</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                                                                             1,061,115.12
</TABLE>




<TABLE>
<CAPTION>
			      COLLATERAL STATEMENT
<S>                                                                       <C>
Collateral Description                               Fixed Mixed & ARM & Balloon

Weighted Average Gross Coupon                                        10.164745%
Weighted Average Net Coupon                                           9.664745%
Weighted Average Pass-Through Rate                                    9.626528%
Weighted Average Maturity(Stepdown Calculation )                            344
Begin Scheduled Collateral Loan Count                                    17,769

Number Of Loans Paid In Full                                                283
End Scheduled Collateral Loan Count                                      17,486
Begining Scheduled Collateral Balance                          1,744,476,921.11
Ending Scheduled Collateral Balance                            1,716,836,201.42
Ending Actual Collateral Balance at 28-Feb-1999                1,718,001,328.67
Monthly P &I Constant                                             15,780,719.69
Ending Scheduled Balance for Premium Loans                     1,716,836,201.42
Scheduled Principal                                                1,003,917.68
Unscheduled Principal                                             26,636,802.01
</TABLE>
<TABLE>
<CAPTION>
	   <S>                                        <C>
Current Month Prepayment Penalties                                307,386.94
</TABLE>
 <TABLE>
 <CAPTION>
				      Group Level Collateral Statement

 <S>                                                                <C> 
 Group ID                                                                     1                         2
 Collateral Description                                       Fixed 15/30 & ARM         Fixed 15/30 & ARM
 Weighted Average Coupon Rate                                          9.593879                 10.284971
 Weighted Average Net Rate                                             9.083879                  9.774971
 Weighted Average Maturity                                               350.00                    343.00
 Beginning Loan Count                                                       938                    16,791
 Loans Paid In Full                                                          20                       223
 Ending Loan Count                                                          918                    16,568
 Beginning Scheduled Balance                                     303,479,831.23          1,440,997,089.88
 Ending scheduled Balance                                        297,162,776.60          1,419,673,424.82
 Record Date                                                         02/28/1999                02/28/1999
 Principal And Interest Constant                                   2,596,282.18             13,184,437.51
 Scheduled Principal                                                 169,991.44                833,926.24
 Unscheduled Principal                                             6,147,063.19             20,489,738.82
 Scheduled Interest                                                2,426,290.74             12,350,511.27
 
 
 Servicing Fees                                                      126,449.92                600,415.48
 Master Servicing Fees                                                 2,528.99                 12,008.28
 Trustee Fee                                                               0.00                      0.00
 FRY Amount                                                                0.00                      0.00
 Special Hazard Fee                                                        0.00                      0.00
 Other Fee                                                                 0.00                      0.00
 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                                                      2,297,311.83             11,738,087.51
 Realized Loss Amount                                                      0.00                      0.00
 Cumulative Realized Loss                                                  0.00                      0.00
 
 
 Group ID                                                                     1                         2
 Required Overcollateralization Amount                                     0.00                      0.00
 Overcollateralization Increase Amount                                     0.00                      0.00
 Overcollateralization Reduction Amount                                    0.00                      0.00
 Specified Overcollateralization Amount                            9,382,910.62             35,812,564.30
 Overcollateralization Amount                                      1,639,134.28              7,411,879.38
 Overcollateralization Deficiency Amount                           8,569,448.33             32,123,432.81
 Base Overcollateralization Amount                                         0.00                      0.00
 Extra Principal Distribution Amount                                 825,671.99              3,722,747.88
 Excess Cash Amount                                                  825,671.99              3,722,747.88
 
 
 </TABLE> 

     <TABLE>
     <CAPTION>                                          Delinquency Status By Groups
       <S>                         <C>               <C>            <C>             <C>           <C>             <C>
 Group
				  30 Days          60 Days       90 + Days      Foreclosure       REO           Bankruptcy
  1  Principal Balance        12,646,131.72     5,676,191.42    4,145,999.96           0.00            0.00           0.00
     Percentage Of Balance           4.256%           1.910%          1.395%         0.000%          0.000%         0.000%
     Loan Count                          37               17              13              0               0              0
     Percentage Of Loans             4.031%           1.852%          1.416%         0.000%          0.000%         0.000%
 
  2  Principal Balance        54,662,209.67    24,527,453.29   17,226,776.64           0.00            0.00           0.00
     Percentage Of Balance           3.850%           1.728%          1.213%         0.000%          0.000%         0.000%
     Loan Count                         669              288             232              0               0              0
     Percentage Of Loans             4.038%           1.738%          1.400%         0.000%          0.000%         0.000%
 </TABLE>
 




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