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Previous: SYNOVUS TRUST CO/FL, 13F-NT, 2000-01-12 |
Next: INTERNATIONAL FUEL TECHNOLOGY INC, 8-K, 2000-01-12 |
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 27, 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 December 27, 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 December
27, 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: 1/5/00
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 December
27, 1999 distribution.
<TABLE>
<CAPTION>
Structured Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 11/30/99
Distribution Date: 12/27/99
SASC Series: 1999-BC1
Contact: Customer Service - CTSLink
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
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 6.07000% 151,863,376.27 793,781.43 7,176,479.10
A2 863572YK3 SEQ 6.02000% 841,077,684.63 4,360,053.26 30,488,701.52
AIO 863572YP2 IO 4.00000% 0.00 1,638,006.70 0.00
M1 863572YL1 SEQ 6.39000% 142,808,000.00 785,801.02 0.00
M2 863572YM9 SEQ 6.89000% 79,825,000.00 473,606.16 0.00
B 863572YN7 SEQ 8.34000% 74,035,000.00 531,694.69 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% 0.00 665,167.06 0.00
OC SAC9901OC OC 0.00000% 31,635,656.50 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 1,321,244,717.4 9,248,110.32 37,665,180.62
</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 0.00 144,686,897.18 7,970,260.53 0.00
A2 0.00 810,588,983.10 34,848,754.78 0.00
AIO 0.00 0.00 1,638,006.70 0.00
M1 0.00 142,808,000.00 785,801.02 0.00
M2 0.00 79,825,000.00 473,606.16 0.00
B 0.00 74,035,000.00 531,694.69 0.00
X1 0.00 0.00 0.00 0.00
X2 0.00 0.00 0.00 0.00
P 0.00 0.00 665,167.06 0.00
OC 0.00 32,974,613.01 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 1,284,918,493.29 46,913,290.94 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 251,958,000.00 151,863,376.27 130,169.36 7,046,309.74 0.00 0.00
A2 1,220,747,000.0 841,077,684.63 702,627.87 29,786,073.65 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 31,635,656.50 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 1,321,244,717.40 832,797.23 36,832,383.39 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 7,176,479.10 144,686,897.18 0.57425006 7,176,479.10
A2 30,488,701.52 810,588,983.10 0.66401063 30,488,701.52
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 32,974,613.01 45,023.29771024 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 37,665,180.62 1,284,918,493.29 0.72619960 37,665,180.62
</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 251,958,000.00 602.73290100 0.51663118 27.96620762 0.00000000
A2 1,220,747,000.00 688.98607544 0.57557206 24.39987454 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 43195096.1919196 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 28.48283881 574.25006223 0.57425006 28.48283881
A2 0.00000000 24.97544661 664.01062882 0.66401063 24.97544661
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 45,023,297.710236 45023.29771024 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 6.07000% 151,863,376.27 793,781.43 0.00 0.00
A2 1,220,747,000.0 6.02000% 841,077,684.63 4,360,053.26 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 6.39000% 142,808,000.00 785,801.02 0.00 0.00
M2 79,825,000.00 6.89000% 79,825,000.00 473,606.16 0.00 0.00
B 74,035,000.00 8.34000% 74,035,000.00 531,694.69 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% 31,635,656.50 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 8,582,943.26 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 0.00 793,781.43 0.00 144,686,897.18
A2 0.00 0.00 4,360,053.26 0.00 810,588,983.10
AIO 0.00 0.00 1,638,006.70 0.00 491,402,008.60
M1 0.00 0.00 785,801.02 0.00 142,808,000.00
M2 0.00 0.00 473,606.16 0.00 79,825,000.00
B 0.00 0.00 531,694.69 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 0.00 665,167.06 0.00 0.00
OC 0.00 0.00 0.00 0.00 32,974,613.01
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 9,248,110.32 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 6.07000% 602.73290100 3.15045138 0.00000000 0.00000000
A2 1,220,747,000.00 6.02000% 688.98607544 3.57162726 0.00000000 0.00000000
AIO 0.00 4.00000% 999.99999998 3.33333334 0.00000000 0.00000000
M1 142,808,000.00 6.39000% 1000.00000000 5.50250000 0.00000000 0.00000000
M2 79,825,000.00 6.89000% 1000.00000000 5.93305556 0.00000000 0.00000000
B 74,035,000.00 8.34000% 1000.00000000 7.18166664 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% 43195096.19191960 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 3.15045138 0.00000000 574.25006223
A2 0.00000000 0.00000000 3.57162726 0.00000000 664.01062882
AIO 0.00000000 0.00000000 3.33333334 0.00000000 999.99999998
M1 0.00000000 0.00000000 5.50250000 0.00000000 1000.00000000
M2 0.00000000 0.00000000 5.93305556 0.00000000 1000.00000000
B 0.00000000 0.00000000 7.18166664 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 166291765000.000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 45023297.71023635
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% 28,033.00 27,017.00 0.00 0.00 66.40204488%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 48,038,786.33
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses (293,157.40)
Total Deposits 47,745,628.93
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 832,337.99
Payment of Interest and Principal 46,913,290.94
Total Withdrawals (Pool Distribution Amount) 47,745,628.93
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 550,518.93
Trustee Fee - 1st National Bank of Chicago 333.33
MBIA Premium 28,033.00
Special Servicing Fee 242,442.62
Master Servicing Fee 11,010.11
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 832,337.99
</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 0.00 1,000.06
Reserve Fund 1,000.00 0.00 0.00 1,000.10
</TABLE>
<TABLE>
<CAPTION> CERTIFICATEHOLDER DELINQUENCY/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 763 70,070,211.55 5.618557% 5.453281%
60 Days 326 28,299,230.91 2.400589% 2.202414%
90+ Days 1,102 98,557,996.48 8.114875% 7.670370%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 2,191 196,927,438.9 16.134021% 15.326065%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 956,526.56
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 10.033625%
Weighted Average Net Coupon 9.533625%
Weighted Average Pass-Through Rate 9.523625%
Weighted Average Maturity(Stepdown Calculation ) 335
Beginning Scheduled Collateral Loan Count 13,928
Number Of Loans Paid In Full 348
Ending Scheduled Collateral Loan Count 13,580
Beginning Scheduled Collateral Balance 1,321,244,717.40
Ending Scheduled Collateral Balance 1,284,918,493.29
Ending Actual Collateral Balance at 30-Nov-1999 1,286,222,289.76
Monthly P &I Constant 11,880,192.37
Ending Scheduled Balance for Premium Loans 1,284,918,493.29
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Current Month Prepayment Penalties $665,167.06
Current Month Special Servicing Fees $242,442.62
</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 9.509847 10.134465
Weighted Average Net Rate 8.999847 9.624465
Weighted Average Maturity 341.00 334.00
Beginning Loan Count 667 13,261 13,928
Loans Paid In Full 20 328 348
Ending Loan Count 647 12,933 13,580
Beginning Scheduled Balance 213,305,791.27 1,107,938,926.13 1,321,244,717.40
Ending scheduled Balance 206,474,652.17 1,078,443,841.12 1,284,918,493.29
Record Date 11/30/99 11/30/99
Principal And Interest Constant 1,820,590.62 10,059,601.75 11,880,192.37
Scheduled Principal 130,169.36 702,627.87 832,797.23
Unscheduled Principal 6,700,969.74 28,792,457.14 35,493,426.88
Scheduled Interest 1,690,421.26 9,356,973.88 11,047,395.14
Servicing Fees 88,877.41 461,641.24 550,518.65
Master Servicing Fees 1,777.51 9,232.84 11,010.35
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 1,599,766.34 8,886,099.80 10,485,866.14
Realized Loss Amount 0.00 293,157.40 293,157.40
Cumulative Realized Loss 12,220.29 944,306.27 956,526.56
Group ID
1 2 Total
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 6,109,754.99 26,864,858.02 32,974,613.01
Overcollateralization Deficiency Amount 3,618,495.63 10,234,480.20 13,852,975.83
Base Overcollateralization Amount 0.00 0.00 0.00
Extra Principal Distribution Amount 345,340.00 1,286,773.92 1,632,113.91
Excess Cash Amount 345,340.00 1,286,773.92 1,632,113.91
</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 12,069,294.12 4,522,366.16 15,084,362.85 0.00 0.00 0.00
Percentage Of Balanc 5.845% 2.190% 7.306% 0.000% 0.000% 0.000%
Loan Count 35 13 46 0 0 0
Percentage Of Loans 5.410% 2.009% 7.110% 0.000% 0.000% 0.000%
2 Principal Balance 58,000,917.43 23,776,864.75 83,473,633.63 0.00 0.00 0.00
Percentage Of Balanc 5.378% 2.205% 7.740% 0.000% 0.000% 0.000%
Loan Count 728 313 1,056 0 0 0
Percentage Of Loans 5.629% 2.420% 8.165% 0.000% 0.000% 0.000%
Totals:Principal Balance 70,070,211.55 28,299,230.91 98,557,996.48 0.00 0.00 0.00
Percentage of Balanc 5.453% 2.202% 7.670% 0.000% 0.000% 0.000%
Loan Count 763 326 1,102 0 0 0
Percentage Of Loans 5.619% 2.401% 8.115% 0.000% 0.000% 0.000%
</TABLE>
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