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Previous: GENTEK INC, 8-K, 1999-09-03 |
Next: MP3 COM INC, 10-Q, 1999-09-03 |
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): August 25, 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 August 25, 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 August 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 Trust
By: The First National Bank of Chicago, as Trustee
By: /s/ Barbara Grosse, Vice President
By: Barbara Grosse, Vice President
Date: 8/31/99
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 August 25,
1999 distribution.
<TABLE>
<CAPTION>
Structured Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 7/31/99
Distribution Date: 8/25/99
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 5.64375% 200,580,381.77 943,354.60 16,758,688.53
A2 863572YK3 SEQ 5.59375% 1,022,280,427.4 4,765,317.61 49,041,511.92
AIO 863572YP2 IO 4.00000% 0.00 1,638,006.69 0.00
M1 863572YL1 SEQ 5.96375% 142,808,000.00 709,726.01 0.00
M2 863572YM9 SEQ 6.46375% 79,825,000.00 429,974.04 0.00
B 863572YN7 SEQ 7.91375% 74,035,000.00 488,245.40 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 33,910.60 0.00
OC SAC9901OC OC 0.00000% 22,914,965.18 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 1,542,443,774.4 9,008,534.95 65,800,200.45
</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 0.00 183,821,693.24 17,702,043.13 0.00
A2 0.00 973,238,915.57 53,806,829.53 0.00
AIO 0.00 0.00 1,638,006.69 0.00
M1 0.00 142,808,000.00 709,726.01 0.00
M2 0.00 79,825,000.00 429,974.04 0.00
B 0.00 74,035,000.00 488,245.40 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 33,910.60 0.00
OC 0.00 25,982,504.86 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 1,479,711,113.67 74,808,735.40 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</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 251,958,000.00 200,580,381.77 151,023.90 16,607,664.63 0.00 0.00
A2 1,220,747,000.0 1,022,280,427.49 777,308.25 48,264,203.67 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 22,914,965.18 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 1,542,443,774.44 928,332.15 64,871,868.30 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 16,758,688.53 183,821,693.24 0.72957276 16,758,688.53
A2 49,041,511.92 973,238,915.57 0.79724866 49,041,511.92
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 25,982,504.86 35,476.32389847 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 65,800,200.45 1,479,711,113.67 0.83629088 65,800,200.45
</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 251,958,000.00 796.08657701 0.59940109 65.91441681 0.00000000
A2 1,220,747,000.00 837.42202724 0.63674803 39.53661461 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 31287927.4430289 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 66.51381790 729.57275911 0.72957276 66.51381790
A2 0.00000000 40.17336264 797.24866460 0.79724866 40.17336264
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 35,476,323.898469 35476.32389847 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 5.64375% 200,580,381.77 943,354.61 0.00 0.00
A2 1,220,747,000.0 5.59375% 1,022,280,427.49 4,765,317.62 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 5.96375% 142,808,000.00 709,726.01 0.00 0.00
M2 79,825,000.00 6.46375% 79,825,000.00 429,974.04 0.00 0.00
B 74,035,000.00 7.91375% 74,035,000.00 488,245.40 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% 22,914,965.18 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 8,974,624.38 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 0.01 0.00 943,354.60 0.00 183,821,693.24
A2 0.01 0.00 4,765,317.61 0.00 973,238,915.57
AIO 0.00 0.00 1,638,006.69 0.00 491,402,008.60
M1 0.00 0.00 709,726.01 0.00 142,808,000.00
M2 0.00 0.00 429,974.04 0.00 79,825,000.00
B 0.00 0.00 488,245.40 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 33,910.60 0.00 0.00
OC 0.00 0.00 0.00 0.00 25,982,504.86
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 9,008,534.95 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 5.64375% 796.08657701 3.74409469 0.00000000 0.00000000
A2 1,220,747,000.00 5.59375% 837.42202724 3.90360789 0.00000000 0.00000000
AIO 0.00 4.00000% 999.99999998 3.33333334 0.00000000 0.00000000
M1 142,808,000.00 5.96375% 1000.00000000 4.96979168 0.00000000 0.00000000
M2 79,825,000.00 6.46375% 1000.00000000 5.38645838 0.00000000 0.00000000
B 74,035,000.00 7.91375% 1000.00000000 6.59479165 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% 31287927.44302898 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 0.00000004 0.00000000 3.74409465 0.00000000 729.57275911
A2 0.00000001 0.00000000 3.90360788 0.00000000 797.24866460
AIO 0.00000000 0.00000000 3.33333332 0.00000000 999.99999998
M1 0.00000000 0.00000000 4.96979168 0.00000000 1000.00000000
M2 0.00000000 0.00000000 5.38645838 0.00000000 1000.00000000
B 0.00000000 0.00000000 6.59479165 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 8477650000.00000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 35476323.89846940
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% 34,073.00 32,438.00 0.00 0.00 79.72571092%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 75,633,687.62
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses (2,373.56)
Total Deposits 75,631,314.06
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 822,578.66
Payment of Interest and Principal 74,808,735.40
Total Withdrawals (Pool Distribution Amount) 75,631,314.06
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 642,684.65
Trustee Fee - 1st National Bank of Chicago 333.33
MBIA Premium 34,073.00
Special Servicing Fee 132,634.00
Master Servicing Fee 12,853.68
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 822,578.66
</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 0.01 1,000.05
Reserve Fund 1,000.04 0.00 0.01 1,000.05
</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 731 66,704,132.21 4.747370% 4.507916%
60 Days 307 28,312,005.54 1.993765% 1.913347%
90+ Days 768 70,173,538.69 4.987661% 4.742381%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 1,806 165,189,676.4 11.728796% 11.163644%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 36,948.83
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed Mixed & ARM & Balloon
Weighted Average Gross Coupon 10.010439%
Weighted Average Net Coupon 9.510440%
Weighted Average Pass-Through Rate 9.500440%
Weighted Average Maturity(Stepdown Calculation ) 339
Begin Scheduled Collateral Loan Count 15,942
Number Of Loans Paid In Full 544
End Scheduled Collateral Loan Count 15,398
Begining Scheduled Collateral Balance 1,542,443,774.44
Ending Scheduled Collateral Balance 1,479,711,113.67
Ending Actual Collateral Balance at 31-Jul-1999 1,480,911,579.46
Monthly P &I Constant 13,829,359.31
Ending Scheduled Balance for Premium Loans 1,479,711,113.67
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Current Month Prepayment Penalties 33,910.60
Current Month Special Servicing Fees 132,634.00
</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 9.535687 10.138503
Weighted Average Net Rate 9.025687 9.628503
Weighted Average Maturity 345.00 338.00
Beginning Loan Count 804 15,138 15,942
Loans Paid In Full 48 496 544
Ending Loan Count 756 14,642 15,398
Beginning Scheduled Balance 260,175,627.72 1,282,268,146.72 1,542,443,774.44
Ending scheduled Balance 244,000,463.50 1,235,710,650.17 1,479,711,113.67
Record Date 7/31/99 7/31/99
Principal And Interest Constant 2,218,485.03 11,610,874.28 13,829,359.31
Scheduled Principal 151,023.90 777,308.25 928,332.15
Unscheduled Principal 16,024,140.32 45,780,188.30 61,804,328.62
Scheduled Interest 2,067,461.13 10,833,566.03 12,901,027.16
Servicing Fees 108,406.51 534,278.40 642,684.91
Master Servicing Fees 2,168.13 10,685.55 12,853.68
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 1,956,886.49 10,288,602.08 12,245,488.57
Realized Loss Amount 0.00 2,373.56 2,373.56
Cumulative Realized Loss 0.00 36,948.83 36,948.83
Percentage of Cumulative Losess 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 4,500,770.26 21,481,734.60 25,982,504.86
Overcollateralization Deficiency Amount 5,465,664.67 16,817,218.63 22,282,883.30
Base Overcollateralization Amount 0.00 0.00 0.00
Extra Principal Distribution Amount 583,524.31 2,486,388.93 3,069,913.24
Excess Cash Amount 583,524.31 2,486,388.93 3,069,913.24
</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 11,438,264.32 4,465,727.26 11,805,354.02 0.00 0.00 0.00
Percentage Of Balance 4.688% 1.830% 4.838% 0.000% 0.000% 0.000%
Loan Count 32 13 36 0 0 0
Percentage Of Loans 4.233% 1.720% 4.762% 0.000% 0.000% 0.000%
2 Principal Balance 55,265,867.89 23,846,278.28 58,368,184.67 0.00 0.00 0.00
Percentage Of Balance 4.472% 1.930% 4.723% 0.000% 0.000% 0.000%
Loan Count 699 294 732 0 0 0
Percentage Of Loans 4.774% 2.008% 4.999% 0.000% 0.000% 0.000%
Totals
Principal Balance 66,704,132.21 28,312,005.54 70,173,538.69 0.00 0.00 0.00
Percentage Of Balance 4.508% 1.913% 4.742% 0.000% 0.000% 0.000%
Loan Count 731 307 768 0 0 0
Percentage Of Loans 4.747% 1.994% 4.988% 0.000% 0.000% 0.000%
</TABLE>
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