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Previous: EATON VANCE INSTITUTIONAL SENIOR FLOATING RATE FUND, N-23C3B, 1999-07-01 |
Next: KEITH COMPANIES INC, 8-A12G, 1999-07-01 |
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: June 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
(858) 676-3099
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the May, 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 May, 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 May, 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
June 30, 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-1 125,000,000 117,263,991. 585,3 5,349,987 5,935,329.82
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-7 400,000,000 390,075,534. 1,744,15 6,430,246 8,174,398.39
B -
BS -
R -
Totals 800,000,000 782,339,525. 3,754,36 11,780,233. 15,534,594.88
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A-1 111,914,004. 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-7 383,645,288. 5.192500% 5.362500%
B 0.000000% 0.000000%
BS 0.000000% 0.000000%
R 0.000000% 0.000000%
Totals 770,559,292.41
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A-1 00755WGF7 938.111931 4.682742 42.799896 47.482638 895.312035
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 975.188836 4.360381 16.075615 20.435996 959.113221
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 0.000000 0.000000 0.000000 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 9,159,31 2,159,31 293,09 823,8 13,3
% of Pool Balan 2.34638% 0.55316% 0.07508% 0.21105% 0.00341%
Number of Loans 163 38 8 12 1
% of Loans 2.61932% 0.61064% 0.12856% 0.19283% 0.01607%
Group 2 Principal Balan 10,941,318 2,723,74 257,19 1,314,95 48,9
% of Pool Balan 2.82990% 0.70448% 0.06652% 0.34010% 0.01266%
Number of Loans 137 36 4 10 1
% of Loans 3.30120% 0.86747% 0.09639% 0.24096% 0.02410%
Loans
in
Foreclosure
<C>
Group I Principal Balan 3,062,739.21
% of Pool Balan 0.78459%
Number of Loans 51
% of Loans 0.81954%
Group 2 Principal Balan 5,997,713.06
% of Pool Balan 1.55127%
Number of Loans 71
% of Loans 1.71084%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Group 1 Group II Total
<S> <C> <C> <C>
Beginning Aggregate Mortgage Loan Balance 394,552,211. 391,773,878. 786,326,089.
Subsequent Mortgage Loans Added This Period 0.00 0.00 0.00
Principal Reduction 4,192,916 5,140,90 9,333,824
Ending Aggregate Mortgage Loan Balance 390,359,295. 386,632,970. 776,992,265.
Beginning Aggregate Mortgage Loan Count 6291 4205 10496
Ending Aggregate Mortgage Loan Count 6223 4150 10373
Current Weighted Average Coupon Rate 10.261409% 9.917771% 10.090197%
Next Weighted Average Coupon Rate 10.252341% 9.913541% 10.083753%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Group 1 Group II Total
<S> <C> <C> <C>
Scheduled Principal 517,88 265,0 782,96
Curtailments
Prepayments 3,675,035 4,875,82 8,550,859
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 0.00 0.00 0.00
Less: Realized Losses 0.00 0.00 0.00
Total Principal Reduction 4,192,916.70 5,140,907.95 9,333,824
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Group I Group II Total
<S> <C> <C> <C>
Accrued Servicing Fee for the Current Period 164,39 163,2 327,63
Less: Amounts to Cover Interest Shortfalls 2,6 239.60 2,8
Less: Delinquent Service Fees 32,0 34,3 66,3
Collected Servicing Fees for Current Period: 129,74 128,6 258,39
Advanced Principal N/A N/A 0.00
Advanced Interest 664,94 678,3 1,343,253
</TABLE>
<TABLE>
<CAPTION>
Other Interest
Prepayment Unscheduled Carry
Principal Principal Forward
Class Distributed Distributed Amount
<S> <C> <C> <C> <C>
A-1 3,675,0 - -
A-2 - -
A-3 - -
A-4 - -
A-5 - -
A-6 - -
A-7 4,667,4 - -
Total 8,342,5 - -
</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 1,157,070 3,445,290.82
Group II NO 25,800,000 1,289,338 1,698,343.86
Total 39,800,000 2,446,408 5,143,634.68
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) 2,452,402.79 2,980,938.32 5,433,341.11
Book Value of REO Loans 23,408.00 51,708.00 75,116.00
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: 5,202,199.22
Principal Collected: 9,333,824.65
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 1,343,253.42
Delinquency Advances on Mortgage Principal N/A
Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 11,562.14
Capitalized Interest Requirement -
Capitalized Interest Fund Earnings -
Capitalized Interest Account -
Investment Earnings on Pre-funding Account -
Pre-Funding Account -
Sum of the Above Amounts: 15,890,839.43
LESS:
Servicing Fees (including PPIS): 261,267.61
Dealer Reserve: -
Trustee Fees: 5,078.36
Insurance Premiums: 89,898.59
Reimbursement of Delinquency Advances: -
Reimbursements of Servicing Advances: -
Total Reductions to Available Funds Amount: 356,244.56
Total Available Funds: 15,534,594.
</TABLE>
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