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Previous: FINANCIAL ASSET SECS CORP ASSET BACKED CERTS SRS 1999-1, 8-K, 1999-08-05 |
Next: R TEC TECHNOLOGIES INC, S-1/A, 1999-08-05 |
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): July 26, 1999
STRUCTURED ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1999-BC1 Trust
New York (governing law of 333-68513-01 52-2151536
Pooling and Servicing Agreement) (Commission 52-2151538
(State or other File Number) 52-2151540
jurisdiction 52-2151543
52-2151544
52-2151546
c/o Norwest Bank Minnesota, N.A. IRS EIN
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 July 26, 1999 a distribution was made to holders of STRUCTURED ASSET
SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1999-BC1
Trust.
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 Trust, relating to the July 26,
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 Trust
By: The First National Bank of Chicago, as Trustee
By: /s/ Barbara Grosse, Vice President
By: Barbara Grosse, Vice President
Date: 7/30/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1999-BC1 Trust, relating to the July 26,
1999 distribution.
<TABLE>
<CAPTION>
Structured Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 6/30/99
Distribution Date: 7/26/99
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 5.57250% 210,964,285.09 1,012,320.91 10,383,903.32
A2 863572YK3 SEQ 5.52250% 1,064,567,238.9 5,062,534.72 42,286,811.41
AIO 863572YP2 IO 4.00000% 0.00 1,638,006.69 0.00
M1 863572YL1 SEQ 5.89250% 142,808,000.00 724,621.68 0.00
M2 863572YM9 SEQ 6.39250% 79,825,000.00 439,408.91 0.00
B 863572YN7 SEQ 7.84250% 74,035,000.00 499,977.89 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% 0.00 719,682.42 0.00
OC SAC9901OC OC 0.00000% 19,900,532.51 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 1,592,100,056.5 10,096,553.22 52,670,714.73
</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 0.00 200,580,381.77 11,396,224.23 0.00
A2 0.00 1,022,280,427.49 47,349,346.13 0.00
AIO 0.00 0.00 1,638,006.69 0.00
M1 0.00 142,808,000.00 724,621.68 0.00
M2 0.00 79,825,000.00 439,408.91 0.00
B 0.00 74,035,000.00 499,977.89 0.00
X1 0.00 0.00 0.00 0.00
X2 0.00 0.00 0.00 0.00
P 0.00 0.00 719,682.42 0.00
OC 0.00 22,914,965.18 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 1,542,443,774.44 62,767,267.95 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 251,958,000.00 210,964,285.09 155,842.77 10,228,060.55 0.00 0.00
A2 1,220,747,000.0 1,064,567,238.90 794,948.16 41,491,863.25 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 19,900,532.51 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 1,769,373,732.3 1,592,100,056.50 950,790.93 51,719,923.80 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 10,383,903.32 200,580,381.77 0.79608658 10,383,903.32
A2 42,286,811.41 1,022,280,427.49 0.83742203 42,286,811.41
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 22,914,965.18 31,287.92744303 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 52,670,714.73 1,542,443,774.44 0.87174560 52,670,714.73
</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 251,958,000.00 837.29941137 0.61852678 40.59430758 0.00000000
A2 1,220,747,000.00 872.06213810 0.65119813 33.98891273 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 27172042.9142943 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 41.21283436 796.08657701 0.79608658 41.21283436
A2 0.00000000 34.64011086 837.42202724 0.83742203 34.64011086
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 31,287,927.443028 31287.92744303 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 5.57250% 210,964,285.09 1,012,320.91 0.00 0.00
A2 1,220,747,000.0 5.52250% 1,064,567,238.90 5,062,534.72 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 5.89250% 142,808,000.00 724,621.68 0.00 0.00
M2 79,825,000.00 6.39250% 79,825,000.00 439,408.91 0.00 0.00
B 74,035,000.00 7.84250% 74,035,000.00 499,977.89 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% 19,900,532.51 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 1,769,373,732.3 9,376,870.81 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 0.00 0.00 1,012,320.91 0.00 200,580,381.77
A2 0.00 0.00 5,062,534.72 0.00 1,022,280,427.49
AIO 0.00 0.00 1,638,006.69 0.00 491,402,008.60
M1 0.00 0.00 724,621.68 0.00 142,808,000.00
M2 0.00 0.00 439,408.91 0.00 79,825,000.00
B 0.00 0.00 499,977.89 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 0.00 719,682.42 0.00 0.00
OC 0.00 0.00 0.00 0.00 22,914,965.18
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 0.00 0.00 10,096,553.22 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 5.57250% 837.29941137 4.01781610 0.00000000 0.00000000
A2 1,220,747,000.00 5.52250% 872.06213810 4.14707939 0.00000000 0.00000000
AIO 0.00 4.00000% 999.99999998 3.33333334 0.00000000 0.00000000
M1 142,808,000.00 5.89250% 1000.00000000 5.07409725 0.00000000 0.00000000
M2 79,825,000.00 6.39250% 1000.00000000 5.50465280 0.00000000 0.00000000
B 74,035,000.00 7.84250% 1000.00000000 6.75326386 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% 27172042.91429430 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 0.00000000 0.00000000 4.01781610 0.00000000 796.08657701
A2 0.00000000 0.00000000 4.14707939 0.00000000 837.42202724
AIO 0.00000000 0.00000000 3.33333332 0.00000000 999.99999998
M1 0.00000000 0.00000000 5.07409725 0.00000000 1000.00000000
M2 0.00000000 0.00000000 5.50465280 0.00000000 1000.00000000
B 0.00000000 0.00000000 6.75326386 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 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 31287927.44302898
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% 35,482.00 34,073.00 0.00 0.00 83.74419348%
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Account Statement
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 62,152,609.51
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 1,428,132.86
Realized Losses (34,575.27)
Total Deposits 63,546,167.10
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 778,899.15
Payment of Interest and Principal 62,767,267.95
Total Withdrawals (Pool Distribution Amount) 63,546,167.10
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 663,373.99
Trustee Fee - 1st National Bank of Chicago 333.33
MBIA Premium 35,482.00
Special Servicing Fee 101,924.00
Master Servicing Fee 13,267.83
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 814,381.15
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Reserve Fund 1,000.04 0.00 0.00 1,000.04
Reserve Fund 1,000.03 0.00 0.01 1,000.04
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Deliquency/Credit Enhancement Statement
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 744 65,453,143.92 4.666918% 4.243470%
60 Days 341 31,258,513.77 2.139004% 2.026558%
90+ Days 674 63,176,328.99 4.227826% 4.095859%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 1,759 159,887,986.6 11.033747% 10.365888%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 34,575.27
Current Period Class A Insufficient Funds
Principal Balance of Contaminated Properties 0.00
Periodic Advance 1,428,132.86
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed Mixed & ARM & Balloon
Weighted Average Gross Coupon 9.979468%
Weighted Average Net Coupon 9.479469%
Weighted Average Pass-Through Rate 9.365652%
Weighted Average Maturity(Stepdown Calculation ) 340
Begin Scheduled Collateral Loan Count 16,393
Number Of Loans Paid In Full 451
End Scheduled Collateral Loan Count 15,942
Beginning Scheduled Collateral Balance 1,592,100,056.50
Ending Scheduled Collateral Balance 1,542,443,774.44
Ending Actual Collateral Balance at 30-Jun-1999 1,543,642,746.47
Monthly P &I Constant 14,910,733.23
Ending Scheduled Balance for Premium Loans 1,542,443,774.44
Scheduled Principal 950,790.93
Unscheduled Principal 48,705,491.13
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Current Month Prepayment Penalties 719,682.42
Current Month Special Servicing Fees 101,924.00
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 9.553053 10.719845
Weighted Average Net Rate 9.043053 10.209846
Weighted Average Maturity 346.00 339.00
Beginning Loan Count 833 15,560 16,393
Loans Paid In Full 29 422 451
Ending Loan Count 804 15,138 15,942
Beginning Scheduled Balance 270,086,677.43 1,322,013,379.07 1,592,100,056.50
Ending scheduled Balance 260,175,627.72 1,282,268,146.72 1,542,443,774.44
Record Date 6/30/99 6/30/99
Principal And Interest Constant 2,305,969.78 12,604,763.45 14,910,733.23
Scheduled Principal 155,842.77 794,948.16 950,790.93
Unscheduled Principal 9,755,206.94 38,950,284.19 48,705,491.13
Scheduled Interest 2,150,127.01 11,809,815.29 13,959,942.30
Servicing Fees 112,536.14 550,837.85 663,373.99
Master Servicing Fees 2,250.77 11,017.06 13,267.83
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 2,035,340.10 11,247,960.38 13,283,300.48
Realized Loss Amount 0.00 34,575.27 34,575.27
Cumulative Realized Loss 0.00 34,575.27 34,575.27
Percentage of Cummulative Losses 0.00 0.00 0.00
Group ID 1 2
Required Overcollateralization Amount 0.00 0.00 0.00
Overcollateralization Increase Amount 0.00 0.00 0.00
Overcollateralization Reduction Amount 0.00 0.00 0.00
Specified Overcollateralization Amount 9,382,910.62 35,812,564.30 45,195,474.93
Overcollateralization Amount 3,917,245.95 18,997,719.23 22,914,965.18
Overcollateralization Deficiency Amount 5,938,518.28 19,390,999.40 25,329,517.68
Base Overcollateralization Amount 0.00 0.00 0.00
Extra Principal Distribution Amount 472,853.61 2,576,154.33 3,049,007.94
Excess Cash Amount 472,853.61 2,576,154.33 3,049,007.94
</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 8,215,692.70 3,983,703.83 11,715,293.69 0.00 0.00 0.00
Percentage Of Balance 3.158% 1.531% 4.503% 0.000% 0.000% 0.000%
Loan Count 24 13 35 0 0 0
Percentage Of Loans 2.985% 1.617% 4.353% 0.000% 0.000% 0.000%
2 Principal Balance 57,237,451.22 27,274,809.94 51,461,035.30 0.00 0.00 0.00
Percentage Of Balance 4.464% 2.127% 4.013% 0.000% 0.000% 0.000%
Loan Count 720 328 639 0 0 0
Percentage Of Loans 4.756% 2.167% 4.221% 0.000% 0.000% 0.000%
Totals
Principal Balance 65,453,143.92 31,258,513.77 63,176,328.99 0.00 0.00 0.00
Percentage Of Balance 4.243% 2.027% 4.096% 0.000% 0.000% 0.000%
Loan Count 744 341 674 0 0 0
Percentage Of Loans 4.667% 2.139% 4.228% 0.000% 0.000% 0.000%
</TABLE>
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