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Previous: AR ASSET MANAGMENT INC, 13F-HR, 1999-06-02 |
Next: STATE STREET RESEARCH INSTITUTIONAL FUNDS, N-1A/A, 1999-06-02 |
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: May 25, 1999
ADVANTA Mortgage Loan Trust 1999-1
New York 333-52351-05 Pending
c/o ADVANTA Mortgage Corp., USA
Attn: William P. Garland
10790 Rancho Bernardo Road
San Diego, CA 92127
(619) 674-1800
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the April, 1999 Monthly Period of the Trust in respect of
the Mortgage Loan Asset-Backed Certificates, Series 1999-1
Class A (the "Certificates") issued by the Registrant and the
performance of the Trust (including distributions of principal
and interest, delinquent balances of Home Equity Loans,
and the Subordinated amount remaining), together with certain other
information relating to the certificates, is contained in the
Monthly Report for the Monthly Period provided to certificateholders
pursuant to the Pooling and Servicing Agreement (the "Agreement")
dated as of March 1, 1999 between ADVANTA Mortgage Corp.,
USA as Servicer, and Bankers Trust Company, as Trustee.
Item 7. Financial Statements, Exhibits
Exhibit No. Exhibit
1. Monthly Report for the April, 1999 Monthly
period relating to the Mortgage Loan Asset-
Backed Certificates Series 1999-1, Class A
issued by the ADVANTA Mortgage Loan
Trust 1999-1.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the April, 1999 Monthly
Period relating to the Mortgage Loan Asset-Backed
Certificates, Series 1999-1, Class A issued by the
ADVANTA Mortgage Loan Trust 1999-1.
SIGNATURE
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 thereunto duly authorized.
ADVANTA Mortgage Loan Trust 1999-1
BY: ADVANTA Mortgage Corp., USA
BY: /s/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
May 28, 1999
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1999-1
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
A-1 125,000,000 121,782,554. 607,8 4,518,563 5,126,461.08
A-2 82,000,00 82,000,000 408,6 408,633.33
A-3 44,000,00 44,000,000 223,6 223,666.67
A-4 83,000,00 83,000,000 435,7 435,750.00
A-5 26,000,00 26,000,000 145,8 145,816.67
A-6 40,000,00 40,000,000 211,0 211,000.00
A-7 400,000,000 396,733,918. 1,664,27 6,658,384 8,322,655.39
B -
BS -
R 910,9 910,904.57
Totals 800,000,000 793,516,472. 4,607,94 11,176,947. 15,784,887.71
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A-1 117,263,991. 5.990000% 5.990000%
A-2 82,000,000 5.980000% 5.980000%
A-3 44,000,000 6.100000% 6.100000%
A-4 83,000,000 6.300000% 6.300000%
A-5 26,000,000 6.730000% 7.480000%
A-6 40,000,000 6.330000% 6.330000%
A-7 390,075,534. 5.207500% 5.462500%
B 0.000000% 0.000000%
BS 0.000000% 0.000000%
R 0.000000% 0.000000%
Totals 782,339,525.54
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A-1 00755WGF7 974.260436 4.863183 36.148505 41.011688 938.111931
A-2 00755WGG5 1,000.000000 4.983333 0.000000 4.983333 1,000.000000
A-3 00755WH3 1,000.000000 5.083333 0.000000 5.083333 1,000.000000
A-4 00755WGJ9 1,000.000000 5.250000 0.000000 5.250000 1,000.000000
A-5 00755WGK6 1,000.000000 5.608333 0.000000 5.608333 1,000.000000
A-6 00755WGL4 1,000.000000 5.275000 0.000000 5.275000 1,000.000000
A-7 00755WGM2 991.834796 4.160678 16.645960 20.806638 975.188836
B 0.000000 0.000000 0.000000 0.000000 0.000000
BS 0.000000 0.000000 0.000000 0.000000 0.000000
R 0.000000 1.138631 0.000000 1.138631 0.000000
</TABLE>
<TABLE>
Delinquent Loan Information:
<CAPTION>
90+ Days Loans Loans
30-59 60-89 excldg f/c,REO in in
Days Days & Bkrptcy Bankruptcy REO
<S> <C> <C> <C> <C> <C>
Group I Principal Balan 7,855,22 1,790,63 57,1 403,1 13,3
% of Pool Balan 1.99092% 0.45384% 0.01449% 0.10217% 0.00338%
Number of Loans 137 31 3 8 1
% of Loans 2.17771% 0.49277% 0.04769% 0.12717% 0.01590%
Group 2 Principal Balan 8,485,16 2,060,68 38,3 1,315,10
% of Pool Balan 2.16583% 0.52599% 0.00979% 0.33568% 0.00000%
Number of Loans 113 24 1 10 0
% of Loans 2.69000% 0.57075% 0.02378% 0.23781% 0.00000%
Loans
in
Foreclosure
<C>
Group I Principal Balan 1,749,764.65
% of Pool Balan 0.44348%
Number of Loans 29
% of Loans 0.46098%
Group 2 Principal Balan 3,300,226.34
% of Pool Balan 0.84238%
Number of Loans 45
% of Loans 1.07015%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Group 1 Group II Total
<S> <C> <C> <C>
Beginning Aggregate Mortgage Loan Balance 397,717,793. 396,835,856. 794,553,650.
Subsequent Mortgage Loans Added This Period 45,090,885.81 41,343,698.04 86,434,583.85
Principal Reduction 3,175,706 5,080,08 8,255,795
Ending Aggregate Mortgage Loan Balance 394,552,211. 391,773,878. 786,326,089.
Beginning Aggregate Mortgage Loan Count 6343 4255 10598
Ending Aggregate Mortgage Loan Count 6291 4205 10496
Current Weighted Average Coupon Rate 10.264428% 9.925328% 10.095066%
Next Weighted Average Coupon Rate 10.261409% 9.917771% 10.090197%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Group 1 Group II Total
<S> <C> <C> <C>
Scheduled Principal 492,29 208,8 701,16
Curtailments (
Prepayments 2,673,313 4,853,20 7,526,519
Repurchases/Substitutions 0.00 0.00
Liquidation Proceeds 0.00 0.00 0.00
Other Principal 0.00 0.00 0.00
Amounts Remaining in Pre-Funding Account at end of pre-funding p 10,124.63 18,109.77 28,234.40
Less: Realized Losses 0.00 0.00 0.00
Total Principal Reduction 3,175,706.59 5,080,088.73 8,255,795
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Accrued Servicing Fee for the Current Period 165,71 165,3 331,06
Less: Amounts to Cover Interest Shortfalls 1,2 138.81 1,3
Less: Delinquent Service Fees 28,8 27,6 56,4
Collected Servicing Fees for Current Period: 135,65 137,5 273,22
Advanced Principal N/A N/A 0.00
Advanced Interest 600,09 550,0 1,150,181
</TABLE>
<TABLE>
<CAPTION>
Other Interest
Prepayment Unscheduled Carry
Principal Principal Forward
Class Distributed Distributed Amount
<S> <C> <C> <C> <C>
A-1 2,673,3 (25.16) -
A-2 - -
A-3 - -
A-4 - -
A-5 - -
A-6 - -
A-7 4,483,7 (74.58) -
Total 7,157,0 (99.74) -
</TABLE>
<TABLE>
<CAPTION>
Over-
Has a Specified Over- Collateral. Over
Trigger Event Collateral. Increase Collateral.
Occurred Amount Amount Amount
<S> <S> <C> <C> <C> <C> <C>
Group I NO 14,000,000 1,342,856 2,288,220.46
Group II NO 25,800,000 1,578,295 101,938.67
Total 39,800,000 2,921,151 2,390,159.13
Overcollateralization Amounts do not include Pre-Funding Amounts
</TABLE>
<TABLE>
<CAPTION>
MISCELLANEOUS INFORMATION:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Insured Payment 0.00 0.00 0.00
Realized Losses 0.00 0.00 0.00
60+ Day Delinquent Loans (Excluding F/C, REO & Bankruptcy) 1,847,823.84 2,099,063.53 3,946,887.37
Book Value of REO Loans 23,252.00 0.00 23,252.00
Pool Cumulative Realized Losses - Avg of 12 Preceeding Remittance Period 0%
Pool Cumulative Realized Losses - % of Mortgage Loans as of Cut-Off Date 0%
Class A-7 Supplemental Interest Amount 0.00
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 5,477,546.66
Principal Collected: 8,227,560.92
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 1,150,181.31
Delinquency Advances on Mortgage Principal N/A
Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 9,875.00
Capitalized Interest Requirement -
Capitalized Interest Fund Earnings -
Capitalized Interest Account 910,904.57
Investment Earnings on Pre-funding Account 351,555.14
Pre-Funding Account 28,234.40
Sum of the Above Amounts: 16,155,858.00
LESS:
Servicing Fees (including PPIS): 274,565.87
Dealer Reserve: -
Trustee Fees: 5,131.49
Insurance Premiums: 91,272.94
Reimbursement of Delinquency Advances: -
Reimbursements of Servicing Advances: -
Total Reductions to Available Funds Amount: 370,970.30
Total Available Funds: 15,784,887.
</TABLE>
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