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) : March 25, 1999
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., (as depositor under the Pooling
and Servicing Agreement, dated February 1, 1999, which forms the Trust, which
will issue the Salomon Brothers Mortgage Securities VII, Inc., Mortgage
Pass-Through Certificates, Series 1999-2).
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-62737-03 13-3439681
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
Seven World Trade Center, 29th Floor
New York, New York 10048
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code : (212) 783-5659
N/A
(Former name or former address, if changed since last report.)
Page 1 of 4
This report consists of 19
consecutively numbered pages.
<PAGE>
Item 5. Other Events.
This report and the attached exhibit is being filed pursuant to "no-action"
positions taken by the Securities and Exchange Commission with respect to
alternative means of satisfying the Registrant's reporting obligations under the
Securities Exchange Act of 1934, as amended, with respect to the Registrant's
Salomon Brothers Mortgage Securities VII, Inc., Mortgage Pass-Through
Certificates, Series 1999-2 (the "Certificates"). The Certificates were issued,
and this report and exhibits are being filed, pursuant to the terms of the
Pooling and Servicing Agreement, dated as of February 1, 1999 ( the
"Agreement"), among Salomon Brothers Mortgage Securities VII, Inc., as
depositor, Cendant Mortgage Corporation, as master servicer, and The Chase
Manhattan Bank, as trustee. On March 25, 1999, April 25, 1999 and May 25, 1999
distributions were made to the Certificateholders. Specific information with
respect to these distributions is filed as Exhibit 99.1, 99.2 and 99.3. No other
reportable transactions or matters have occurred during the current reporting
period.
Item 7. Financial Statements and Exhibits.
(a) Not applicable
(b) Not applicable
(c) The following exhibits are filed as part of this report:
Statement to Certificateholders on March 25, 1999,
as Exhibit 99.1.
Statement to Certificateholders on April 25, 1999,
as Exhibit 99.2.
Statement to Certificateholders on May 25, 1999,
as Exhibit 99.3.
<PAGE>
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.
THE CHASE MANHATTAN BANK,
not in its individual capacity but solely
as Trustee under the Agreement referred
to herein
Date: June 21, 1999 By: /s/ Cynthia Kerpen
Cynthia Kerpen
Vice President
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits Page
99.1 Monthly Certificateholder Statement on 5
March 25, 1999.
99.2 Monthly Certificateholder Statement on 10
April 25, 1999.
99.3 Monthly Certificateholder Statement on 15
May 25, 1999.
<PAGE>
Exhibit 99.1
Monthly Certificateholder Statement on March 25, 1999
<PAGE>
<TABLE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
DIST DATE: 03/25/99 PAGE # 1
- -----------------------------------------------------------------------------------------------------------------------------------
ORIGINAL PRIOR CURRENT
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
A1_1 60,123,603.00 60,123,603.00 325,669.52 432,992.07 758,661.59 0.00 0.00 59,690,610.93
A1_2 9,545,000.00 9,545,000.00 49,713.54 0.00 49,713.54 0.00 0.00 9,545,000.00
A1_3 9,545,000.00 9,545,000.00 53,690.63 0.00 53,690.63 0.00 0.00 9,545,000.00
A1_4 15,000,000.00 15,000,000.00 81,250.00 0.00 81,250.00 0.00 0.00 15,000,000.00
A1_5 49,800,000.00 49,800,000.00 269,750.00 295,269.64 565,019.64 0.00 0.00 49,504,730.36
A1_6 200,000.00 200,000.00 1,083.33 0.00 1,083.33 0.00 0.00 200,000.00
A2 68,254,245.00 68,254,245.00 369,710.49 486,762.64 856,473.13 0.00 0.00 67,767,482.36
PO 1,904,951.79 1,904,951.79 0.00 3,626.68 3,626.68 0.00 0.00 1,901,325.11
B1 4,466,000.00 4,466,000.00 24,190.83 3,951.75 28,142.58 0.00 0.00 4,462,048.25
B2 2,010,000.00 2,010,000.00 10,887.50 1,778.53 12,666.03 0.00 0.00 2,008,221.47
B3 781,000.00 781,000.00 4,230.42 691.09 4,921.51 0.00 0.00 780,308.91
B4 782,000.00 782,000.00 4,235.83 691.93 4,927.76 0.00 0.00 781,308.07
B5 335,000.00 335,000.00 1,814.58 296.42 2,111.00 0.00 0.00 334,703.58
B6PO 558,364.57 558,364.57 0.00 494.06 494.06 0.00 0.00 557,870.51
RII 200.00 200.00 1.08 200.00 201.08 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 223,305,364.36 223,305,364.36 1,196,227.75 1,226,754.81 2,422,982.56 0.00 0.00 222,078,609.55
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
IO 223,305,364.36 223,305,364.36 63,950.00 0.00 63,950.00 0.00 0.00 222,078,609.54
B6IO 558,364.57 558,364.57 3,024.47 0.00 3,024.47 0.00 0.00 557,870.51
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
B1_1 3,009,032.45 3,009,032.45 16,298.93 2,524.29 18,823.22 0.00 0.00 3,006,508.16
B1_2 1,456,967.55 1,456,967.55 7,891.91 1,427.46 9,319.37 0.00 0.00 1,455,540.09
B2_1 1,354,364.60 1,354,364.60 7,336.14 1,136.18 8,472.32 0.00 0.00 1,353,228.42
B2_2 655,635.40 655,635.40 3,551.36 642.35 4,193.71 0.00 0.00 654,993.05
B3_1 526,030.68 526,030.68 2,849.33 441.29 3,290.62 0.00 0.00 525,589.39
B3_2 254,969.32 254,969.32 1,381.08 249.80 1,630.88 0.00 0.00 254,719.52
B4_1 527,030.68 527,030.68 2,854.75 442.13 3,296.88 0.00 0.00 526,588.55
B4_2 254,969.32 254,969.32 1,381.08 249.80 1,630.88 0.00 0.00 254,719.52
B5_1 225,727.44 225,727.44 1,222.69 189.36 1,412.05 0.00 0.00 225,538.08
B5_2 109,272.56 109,272.56 591.89 107.06 698.95 0.00 0.00 109,165.50
B6PO_1 376,243.63 376,243.63 0.00 315.63 315.63 0.00 0.00 375,928.00
B6PO_2 182,120.94 182,120.94 0.00 178.43 178.43 0.00 0.00 181,942.51
- -----------------------------------------------------------------------------------------------------------------------------------
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
DIST DATE: 03/25/99 PAGE # 2
- ----------------------------------------------------------------------------------------- -------------------------------------
FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE PASS-THROUGH RATES
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL PASS-THRU
CLASS CUSIP FACTOR INTEREST PRINCIPAL TOTAL FACTOR CLASS RATE
- ------------------------------------------------------------------------------------------- ------------------------------------
A1_1 79548KG85 1,000.0000000 5.416667 7.201699 12.618365 992.7983014 A1_1 6.500000 %
A1_2 79548KG93 1,000.0000000 5.208333 0.000000 5.208333 1,000.0000000 A1_2 6.250000 %
A1_3 79548KH27 1,000.0000000 5.625001 0.000000 5.625001 1,000.0000000 A1_3 6.750000 %
A1_4 79548KH35 1,000.0000000 5.416667 0.000000 5.416667 1,000.0000000 A1_3 6.750000 %
A1_5 79548KH43 1,000.0000000 5.416667 5.929109 11.345776 994.0708908 A1_5 6.500000 %
A1_6 79548KJ66 1,000.0000000 5.416650 0.000000 5.416650 1,000.0000000 A1_6 6.500000 %
A2 79548KH76 1,000.0000000 5.416667 7.131610 12.548276 992.8683902 A2 6.500000 %
PO 1,000.0000000 0.000000 1.903817 1.903817 998.0961828 PO 0.000000 %
B1 79548KH84 1,000.0000000 5.416666 0.884852 6.301518 999.1151478 B1 6.500000 %
B2 79548KH92 1,000.0000000 5.416667 0.884841 6.301507 999.1151592 B2 6.500000 %
B3 79548KJ25 1,000.0000000 5.416671 0.884878 6.301549 999.1151216 B3 6.500000 %
B4 79548KJ33 1,000.0000000 5.416662 0.884821 6.301483 999.1151790 B4 6.500000 %
B5 79548KJ41 1,000.0000000 5.416657 0.884836 6.301493 999.1151642 B5 6.500000 %
B6PO 79548KJ58 1,000.0000000 0.000000 0.884834 0.884834 999.1151659 B6PO 6.500000 %
RII 79548KH68 1,000.0000000 5.400000 1,000.000000 1,005.400000 0.0000000 B1_1 6.500000 %
B1_2 6.500000 %
- ------------------------------------------------------------------------------------------- B2_1 6.500000 %
TOTALS 1,000.0000000 5.356915 5.493620 10.850534 994.5063800 B2_2 6.500000 %
- ------------------------------------------------------------------------------------------- B3_1 6.500000 %
B3_2 6.500000 %
- ------------------------------------------------------------------------------------------- B4_1 6.500000 %
IO 1,000.00 0.286379 0.000000 0.286379 994.51 B4_2 6.500000 %
B6IO 1,000.00 5.416658 0.000000 5.416658 999.12 B5_1 6.500000 %
- ------------------------------------------------------------------------------------------- B5_2 6.500000 %
B6PO_1 0.000000 %
- ------------------------------------------------------------------------------------------- B6PO_2 0.000000 %
B1_1 1,000.00 5.416668 0.838904 6.255572 999.16 RII 6.500000 %
B1_2 1,000.00 5.416668 0.979747 6.396416 999.02 -----------------------------------
B2_1 1,000.00 5.416665 0.838903 6.255568 999.16 IO 0.343655 %
B2_2 1,000.00 5.416669 0.979737 6.396406 999.02 B6IO 6.500000 %
B3_1 1,000.00 5.416661 0.838905 6.255567 999.16 -----------------------------------
B3_2 1,000.00 5.416652 0.979726 6.396377 999.02
B4_1 1,000.00 5.416668 0.838908 6.255575 999.16
B4_2 1,000.00 5.416652 0.979726 6.396377 999.02
B5_1 1,000.00 5.416665 0.838888 6.255553 999.16
B5_2 1,000.00 5.416639 0.979752 6.396391 999.02
B6PO_1 1,000.00 0.000000 0.838898 0.838898 999.16
B6PO_2 1,000.00 0.000000 0.979734 0.979734 999.02
- ------------------------------------------------------------------------------------------- -----------------------------------
If there are any questions or problems with this statement, please contact
the Administrator listed below:
---------------------------------------
CYNTHIA KERPEN
THE CHASE MANHATTAN BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 14TH FLOOR
NEW YORK, NEW YORK 10001
TEL: 212/946-3233
Email: [email protected]
---------------------------------------
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
</TABLE>
<PAGE>
<TABLE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DIST DATE: 03/25/99 PAGE # 3
<S> <C> <C>
Sec. 4.02(iii) Aggregate Amount of Servicing Compensation 39,566.39
Sec. 4.02(iv) Aggregate Amount of P&I Advances for each Sub-Pool 1 0.00
Sec. 4.02(iv) Aggregate Amount of P&I Advances for each Sub-Pool 2 0.00
Sec. 4.02(v) Aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties for Sub-Pool 1 149,723,260.15
Sec. 4.02(v) Aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties for Sub-Pool 2 72,355,349.39
Sec. 4.02(vi) Sub-Pool 1
Number of Mortgage Loans as of the related Due Period 480
Aggregate Principal Balance of Mortgage Loans as of the related Due Period 149,723,260.15
Weighted average remaining term to maturity as of the related Due Period 354.00
Weighted average Mortgage Rate of the Mortgage Loans as of the related Due Period 7.15
Sec. 4.02(vi) Sub-Pool 2
Number of Mortgage Loans as of the related Due Period 220
Aggregate Principal Balance of Mortgage Loans as of the related Due Period 72,355,349.39
Weighted average remaining term to maturity as of the related Due Period 349.00
Weighted average Mortgage Rate of the Mortgage Loans as of the related Due Period 6.68
Sec. 4.02(vii) DELINQUENCIES
--------------------------------------------------------------------
Group Totals
--------------------------------------------------------------------
Category Number Principal Balance Percentage
--------------------------------------------------------------------
0-30 days 0 0.00 0.00 %
31-60 days 0 0.00 0.00 %
61-90 days 0 0.00 0.00 %
91-120 days 0 0.00 0.00 %
121+ days 0 0.00 0.00 %
Total 0 0.00 0.00 %
--------------------------------------------------------------------
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DIST DATE: 03/25/99 PAGE # 4
<S> <C> <C>
Sec. 4.02(vii) FORECLOSURE (Included in Delinquencies above)
Sec. 4.02(vii) LOANS IN BANKRUPTCY (Included in Delinquencies above)
Sec. 4.02(viii) REO Properties (Not Included in Delinquencies above)
Sec. 4.02(ix) Aggregate Book Value of REO Loans 0.00
Sec. 4.02(x) Aggregate Principal Prepayment made during the related Prepayment Period 796,340.88
Sec. 4.02(xi) Aggregate Realized Losses made during the related Prepayment Period
Sub-Pool 1 0.00
Sub-Pool 2 0.00
Sec. 4.02(xii) Aggregate Extraordinary Trust Fund Expenses withdrawn from the Collection Account
or the Distribution Account 0.00
Sec. 4.02(xvi) Aggregate Prepayment Interest Shortfalls, to the extent not covered by the Master Servicer 0.00
Sec. 4.02(xvii) Aggregate amount of Relief Act Interest Shortfall 0.00
Sec. 4.02(xviii) Applicable Bankruptcy Amount 100,000.00
Applicable Fraud Loss Amount 2,233,054.00
Applicable Special Hazard Amount 3,604,579.00
Sec. 4.02(xx) Mortgage Loans as to which foreclosure proceeeding have been concluded 0.00
Sec. 4.02(xxi) Mortgage Loans as to which a Final Liquidation has occurred
Number of loans 0.00
Unpaid principal balance 0.00
Liquidated Proceeds 0.00
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
</TABLE>
<PAGE>
Exhibit 99.2
Monthly Certificateholder Statement on April 25, 1999
<PAGE>
<TABLE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
DIST DATE: 04/25/99 PAGE # 1
- -----------------------------------------------------------------------------------------------------------------------------------
ORIGINAL PRIOR CURRENT
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
A1_1 60,123,603.00 59,690,610.93 323,324.14 121,553.51 444,877.65 0.00 0.00 59,569,057.42
A1_2 9,545,000.00 9,545,000.00 49,713.54 0.00 49,713.54 0.00 0.00 9,545,000.00
A1_3 9,545,000.00 9,545,000.00 53,690.63 0.00 53,690.63 0.00 0.00 9,545,000.00
A1_4 15,000,000.00 15,000,000.00 81,250.00 0.00 81,250.00 0.00 0.00 15,000,000.00
A1_5 49,800,000.00 49,504,730.36 268,150.62 82,890.80 351,041.42 0.00 0.00 49,421,839.56
A1_6 200,000.00 200,000.00 1,083.33 0.00 1,083.33 0.00 0.00 200,000.00
A2 68,254,245.00 67,767,482.36 367,073.86 700,546.19 1,067,620.05 0.00 0.00 67,066,936.17
PO 1,904,951.79 1,901,325.11 0.00 49,439.86 49,439.86 0.00 0.00 1,851,885.25
B1 4,466,000.00 4,462,048.25 24,169.43 4,007.26 28,176.69 0.00 0.00 4,458,040.99
B2 2,010,000.00 2,008,221.47 10,877.87 1,803.53 12,681.40 0.00 0.00 2,006,417.94
B3 781,000.00 780,308.91 4,226.67 700.80 4,927.47 0.00 0.00 779,608.11
B4 782,000.00 781,308.07 4,232.09 701.66 4,933.75 0.00 0.00 780,606.41
B5 335,000.00 334,703.58 1,812.98 300.58 2,113.56 0.00 0.00 334,403.00
B6PO 558,364.57 557,870.51 0.00 500.95 500.95 0.00 0.00 557,369.56
RII 200.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 223,305,364.36 222,078,609.55 1,189,605.16 962,445.14 2,152,050.30 0.00 0.00 221,116,164.41
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
IO 223,305,364.36 222,078,609.54 63,107.71 0.00 63,107.71 0.00 0.00 221,116,164.41
B6IO 558,364.57 557,870.51 3,021.80 0.00 3,021.80 0.00 0.00 557,369.56
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
B1_1 3,009,032.45 3,006,508.16 16,285.25 2,568.42 18,853.67 0.00 0.00 3,003,939.74
B1_2 1,456,967.55 1,455,540.09 7,884.18 1,438.84 9,323.02 0.00 0.00 1,454,101.25
B2_1 1,354,364.60 1,353,228.42 7,329.99 1,156.05 8,486.04 0.00 0.00 1,352,072.37
B2_2 655,635.40 654,993.05 3,547.88 647.48 4,195.36 0.00 0.00 654,345.57
B3_1 526,030.68 525,589.39 2,846.94 449.00 3,295.94 0.00 0.00 525,140.39
B3_2 254,969.32 254,719.52 1,379.73 251.80 1,631.53 0.00 0.00 254,467.72
B4_1 527,030.68 526,588.55 2,852.35 449.86 3,302.21 0.00 0.00 526,138.69
B4_2 254,969.32 254,719.52 1,379.73 251.80 1,631.53 0.00 0.00 254,467.72
B5_1 225,727.44 225,538.08 1,221.66 192.67 1,414.33 0.00 0.00 225,345.41
B5_2 109,272.56 109,165.50 591.31 107.91 699.22 0.00 0.00 109,057.59
B6PO_1 376,243.63 375,928.00 0.00 321.15 321.15 0.00 0.00 375,606.85
B6PO_2 182,120.94 181,942.51 0.00 179.80 179.80 0.00 0.00 181,762.71
- -----------------------------------------------------------------------------------------------------------------------------------
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
DIST DATE: 04/25/99 PAGE # 2
- ----------------------------------------------------------------------------------------- -------------------------------------
FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE PASS-THROUGH RATES
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL PASS-THRU
CLASS CUSIP FACTOR INTEREST PRINCIPAL TOTAL FACTOR CLASS RATE
- ------------------------------------------------------------------------------------------- ------------------------------------
A1_1 79548KG85 992.7983014 5.377657 2.021727 7.399384 990.7765744 A1_1 6.500000 %
A1_2 79548KG93 1,000.0000000 5.208333 0.000000 5.208333 1,000.0000000 A1_2 6.250000 %
A1_3 79548KH27 1,000.0000000 5.625001 0.000000 5.625001 1,000.0000000 A1_3 6.750000 %
A1_4 79548KH35 1,000.0000000 5.416667 0.000000 5.416667 1,000.0000000 A1_3 6.500000 %
A1_5 79548KH43 994.0708908 5.384551 1.664474 7.049024 992.4064169 A1_5 6.500000 %
A1_6 79548KJ66 1,000.0000000 5.416650 0.000000 5.416650 1,000.0000000 A1_6 6.500000 %
A2 79548KH76 992.8683902 5.378037 10.263775 15.641812 982.6046156 A2 6.500000 %
PO 998.0961828 0.000000 25.953339 25.953339 972.1428436 PO 0.000000 %
B1 79548KH84 999.1151478 5.411874 0.897282 6.309156 998.2178661 B1 6.500000 %
B2 79548KH92 999.1151592 5.411876 0.897279 6.309154 998.2178806 B2 6.500000 %
B3 79548KJ25 999.1151216 5.411869 0.897311 6.309181 998.2178105 B3 6.500000 %
B4 79548KJ33 999.1151790 5.411880 0.897263 6.309143 998.2179156 B4 6.500000 %
B5 79548KJ41 999.1151642 5.411881 0.897254 6.309134 998.2179104 B5 6.500000 %
B6PO 79548KJ58 999.1151659 0.000000 0.897174 0.897174 998.2179922 B6PO 6.500000 %
RII 79548KH68 0.0000000 0.000000 0.000000 0.000000 0.0000000 B1_1 6.500000 %
B1_2 6.500000 %
- ------------------------------------------------------------------------------------------- B2_1 6.500000 %
TOTALS 994.5063800 5.327257 4.309996 9.637253 990.1963844 B2_2 6.500000 %
- ------------------------------------------------------------------------------------------- B3_1 6.500000 %
B3_2 6.500000 %
- ------------------------------------------------------------------------------------------- B4_1 6.500000 %
IO 994.51 0.282607 0.000000 0.282607 990.20 B4_2 6.500000 %
B6IO 999.12 5.411876 0.000000 5.411876 998.22 B5_1 6.500000 %
- ------------------------------------------------------------------------------------------- B5_2 6.500000 %
B6PO_1 0.000000 %
- ------------------------------------------------------------------------------------------- B6PO_2 0.000000 %
B1_1 999.16 5.412122 0.853570 6.265692 998.31 RII 6.500000 %
B1_2 999.02 5.411363 0.987558 6.398921 998.03 -----------------------------------
B2_1 999.16 5.412125 0.853574 6.265698 998.31 IO 0.341022 %
B2_2 999.02 5.411361 0.987561 6.398922 998.03 B6IO 6.500000 %
B3_1 999.16 5.412118 0.853562 6.265680 998.31 -----------------------------------
B3_2 999.02 5.411357 0.987570 6.398927 998.03
B4_1 999.16 5.412114 0.853575 6.265688 998.31
B4_2 999.02 5.411357 0.987570 6.398927 998.03
B5_1 999.16 5.412102 0.853552 6.265654 998.31
B5_2 999.02 5.411331 0.987531 6.398862 998.03
B6PO_1 999.16 0.000000 0.853569 0.853569 998.31
B6PO_2 999.02 0.000000 0.987256 0.987256 998.03
- ------------------------------------------------------------------------------------------- -----------------------------------
If there are any questions or problems with this statement, please contact
the Administrator listed below:
---------------------------------------
CYNTHIA KERPEN
THE CHASE MANHATTAN BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 14TH FLOOR
NEW YORK, NEW YORK 10001
TEL: 212/946-3233
Email: [email protected]
---------------------------------------
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DIST DATE: 04/25/99 PAGE # 3
<S> <C> <C>
Sec. 4.02(iii) Aggregate Amount of Servicing Compensation 39,360.11
Sec. 4.02(iv) Aggregate Amount of P&I Advances for each Sub-Pool 1 0.00
Sec. 4.02(iv) Aggregate Amount of P&I Advances for each Sub-Pool 2 0.00
Sec. 4.02(v) Aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties for Sub-Pool 1 149,513,405.30
Sec. 4.02(v) Aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties for Sub-Pool 2 71,602,759.11
Sec. 4.02(vi) Sub-Pool 1
Number of Mortgage Loans as of the related Due Period 480
Aggregate Principal Balance of Mortgage Loans as of the related Due Period 149,513,405.30
Weighted average remaining term to maturity as of the related Due Period 354.00
Weighted average Mortgage Rate of the Mortgage Loans as of the related Due Period 7.15
Sec. 4.02(vi) Sub-Pool 2
Number of Mortgage Loans as of the related Due Period 219
Aggregate Principal Balance of Mortgage Loans as of the related Due Period 71,602,759.11
Weighted average remaining term to maturity as of the related Due Period 349.00
Weighted average Mortgage Rate of the Mortgage Loans as of the related Due Period 6.68
Sec. 4.02(vii) DELINQUENCIES
--------------------------------------------------------------------
Group Totals
--------------------------------------------------------------------
Category Number Principal Balance Percentage
--------------------------------------------------------------------
0-30 days 0 0.00 0.00 %
31-60 days 0 0.00 0.00 %
61-90 days 0 0.00 0.00 %
91-120 days 0 0.00 0.00 %
121+ days 0 0.00 0.00 %
Total 0 0.00 0.00 %
--------------------------------------------------------------------
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DIST DATE: 04/25/99 PAGE # 4
<S> <C> <C>
Sec. 4.02(vii) FORECLOSURE (Included in Delinquencies above)
Sec. 4.02(vii) LOANS IN BANKRUPTCY (Included in Delinquencies above)
Sec. 4.02(viii) REO Properties (Not Included in Delinquencies above)
Sec. 4.02(ix) Aggregate Book Value of REO Loans 0.00
Sec. 4.02(x) Aggregate Principal Prepayment made during the related Prepayment Period 690,501.57
Sec. 4.02(xi) Aggregate Realized Losses made during the related Prepayment Period
Sub-Pool 1 0.00
Sub-Pool 2 0.00
Sec. 4.02(xii) Aggregate Extraordinary Trust Fund Expenses withdrawn from the Collection Account
or the Distribution Account 0.00
Sec. 4.02(xvi) Aggregate Prepayment Interest Shortfalls, to the extent not covered by the Master Servicer 0.00
Sec. 4.02(xvii) Aggregate amount of Relief Act Interest Shortfall 0.00
Sec. 4.02(xviii) Applicable Bankruptcy Amount 100,000.00
Applicable Fraud Loss Amount 2,233,054.00
Applicable Special Hazard Amount 3,604,579.00
Sec. 4.02(xx) Mortgage Loans as to which foreclosure proceeeding have been concluded 0.00
Sec. 4.02(xxi) Mortgage Loans as to which a Final Liquidation has occurred
Number of loans 0.00
Unpaid principal balance 0.00
Liquidated Proceeds 0.00
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
</TABLE>
<PAGE>
Exhibit 99.3
Monthly Certificateholder Statement on May 25, 1999
<PAGE>
<TABLE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
DIST DATE: 05/25/99 PAGE # 1
- -----------------------------------------------------------------------------------------------------------------------------------
ORIGINAL PRIOR CURRENT
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
A1_1 60,123,603.00 59,569,057.42 322,665.73 645,451.77 968,117.50 0.00 0.00 58,923,605.65
A1_2 9,545,000.00 9,545,000.00 49,713.54 0.00 49,713.54 0.00 0.00 9,545,000.00
A1_3 9,545,000.00 9,545,000.00 53,690.63 0.00 53,690.63 0.00 0.00 9,545,000.00
A1_4 15,000,000.00 15,000,000.00 81,250.00 0.00 81,250.00 0.00 0.00 15,000,000.00
A1_5 49,800,000.00 49,421,839.56 267,701.63 440,151.98 707,853.61 0.00 0.00 48,981,687.58
A1_6 200,000.00 200,000.00 1,083.33 0.00 1,083.33 0.00 0.00 200,000.00
A2 68,254,245.00 67,066,936.17 363,279.24 78,477.43 441,756.67 0.00 0.00 66,988,458.74
PO 1,904,951.79 1,851,885.25 0.00 3,607.01 3,607.01 0.00 0.00 1,848,278.24
B1 4,466,000.00 4,458,040.99 24,147.72 4,003.59 28,151.31 0.00 0.00 4,454,037.40
B2 2,010,000.00 2,006,417.94 10,868.10 1,801.88 12,669.98 0.00 0.00 2,004,616.06
B3 781,000.00 779,608.11 4,222.88 700.15 4,923.03 0.00 0.00 778,907.96
B4 782,000.00 780,606.41 4,228.28 701.01 4,929.29 0.00 0.00 779,905.40
B5 335,000.00 334,403.00 1,811.35 300.31 2,111.66 0.00 0.00 334,102.69
B6PO 558,364.57 557,369.56 0.00 499.26 499.26 0.00 0.00 556,870.30
RII 200.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 223,305,364.36 221,116,164.41 1,184,662.43 1,175,694.39 2,360,356.82 0.00 0.00 219,940,470.02
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
IO 223,305,364.36 221,116,164.41 63,006.53 0.00 63,006.53 0.00 0.00 219,940,470.02
B6IO 558,364.57 557,369.56 3,019.09 0.00 3,019.09 0.00 0.00 556,870.30
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
B1_1 3,009,032.45 3,003,939.74 16,271.34 2,591.18 18,862.52 0.00 0.00 3,001,348.56
B1_2 1,456,967.55 1,454,101.25 7,876.38 1,412.41 9,288.79 0.00 0.00 1,452,688.84
B2_1 1,354,364.60 1,352,072.37 7,323.73 1,166.29 8,490.02 0.00 0.00 1,350,906.08
B2_2 655,635.40 654,345.57 3,544.37 635.59 4,179.96 0.00 0.00 653,709.98
B3_1 526,030.68 525,140.39 2,844.51 452.98 3,297.49 0.00 0.00 524,687.41
B3_2 254,969.32 254,467.72 1,378.37 247.17 1,625.54 0.00 0.00 254,220.55
B4_1 527,030.68 526,138.69 2,849.92 453.84 3,303.76 0.00 0.00 525,684.85
B4_2 254,969.32 254,467.72 1,378.37 247.17 1,625.54 0.00 0.00 254,220.55
B5_1 225,727.44 225,345.41 1,220.62 194.38 1,415.00 0.00 0.00 225,151.03
B5_2 109,272.56 109,057.59 590.73 105.93 696.66 0.00 0.00 108,951.66
B6PO_1 376,243.63 375,606.85 0.00 324.00 324.00 0.00 0.00 375,282.85
B6PO_2 182,120.94 181,762.71 0.00 175.26 175.26 0.00 0.00 181,587.45
- -----------------------------------------------------------------------------------------------------------------------------------
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
DIST DATE: 05/25/99 PAGE # 2
- ----------------------------------------------------------------------------------------- -------------------------------------
FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE PASS-THROUGH RATES
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL PASS-THRU
CLASS CUSIP FACTOR INTEREST PRINCIPAL TOTAL FACTOR CLASS RATE
- ------------------------------------------------------------------------------------------- ------------------------------------
A1_1 79548KG85 990.7765744 5.366706 10.735414 16.102120 980.0411604 A1_1 6.500000 %
A1_2 79548KG93 1,000.0000000 5.208333 0.000000 5.208333 1,000.0000000 A1_2 6.250000 %
A1_3 79548KH27 1,000.0000000 5.625001 0.000000 5.625001 1,000.0000000 A1_3 6.750000 %
A1_4 79548KH35 1,000.0000000 5.416667 0.000000 5.416667 1,000.0000000 A1_3 6.500000 %
A1_5 79548KH43 992.4064169 5.375535 8.838393 14.213928 983.5680237 A1_5 6.500000 %
A1_6 79548KJ66 1,000.0000000 5.416650 0.000000 5.416650 1,000.0000000 A1_6 6.500000 %
A2 79548KH76 982.6046156 5.322442 1.149781 6.472223 981.4548346 A2 6.500000 %
PO 972.1428436 0.000000 1.893491 1.893491 970.2493521 PO 0.000000 %
B1 79548KH84 998.2178661 5.407013 0.896460 6.303473 997.3214062 B1 6.500000 %
B2 79548KH92 998.2178806 5.407015 0.896458 6.303473 997.3214229 B2 6.500000 %
B3 79548KJ25 998.2178105 5.407017 0.896479 6.303496 997.3213316 B3 6.500000 %
B4 79548KJ33 998.2179156 5.407008 0.896432 6.303440 997.3214834 B4 6.500000 %
B5 79548KJ41 998.2179104 5.407015 0.896448 6.303463 997.3214627 B5 6.500000 %
B6PO 79548KJ58 998.2179922 0.000000 0.894147 0.894147 997.3238452 B6PO 6.500000 %
RII 79548KH68 0.0000000 0.000000 0.000000 0.000000 0.0000000 B1_1 6.500000 %
B1_2 6.500000 %
- ------------------------------------------------------------------------------------------- B2_1 6.500000 %
TOTALS 990.1963844 5.305123 5.264963 10.570086 984.9314218 B2_2 6.500000 %
- ------------------------------------------------------------------------------------------- B3_1 6.500000 %
B3_2 6.500000 %
- ------------------------------------------------------------------------------------------- B4_1 6.500000 %
IO 990.20 0.282154 0.000000 0.282154 984.93 B4_2 6.500000 %
B6IO 998.22 5.407023 0.000000 5.407023 997.32 B5_1 6.500000 %
- ------------------------------------------------------------------------------------------- B5_2 6.500000 %
B6PO_1 0.000000 %
- ------------------------------------------------------------------------------------------- B6PO_2 0.000000 %
B1_1 998.31 5.407499 0.861134 6.268633 997.45 RII 6.500000 %
B1_2 998.03 5.406009 0.969418 6.375427 997.06 -----------------------------------
B2_1 998.31 5.407503 0.861134 6.268637 997.45 IO 0.341937 %
B2_2 998.03 5.406008 0.969426 6.375434 997.06 B6IO 6.500000 %
B3_1 998.31 5.407498 0.861128 6.268627 997.45 -----------------------------------
B3_2 998.03 5.406023 0.969411 6.375434 997.06
B4_1 998.31 5.407503 0.861126 6.268629 997.45
B4_2 998.03 5.406023 0.969411 6.375434 997.06
B5_1 998.31 5.407495 0.861127 6.268622 997.45
B5_2 998.03 5.406023 0.969411 6.375434 997.06
B6PO_1 998.31 0.000000 0.861144 0.861144 997.45
B6PO_2 998.03 0.000000 0.962328 0.962328 997.07
- ------------------------------------------------------------------------------------------- -----------------------------------
If there are any questions or problems with this statement, please contact
the Administrator listed below:
---------------------------------------
CYNTHIA KERPEN
THE CHASE MANHATTAN BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 14TH FLOOR
NEW YORK, NEW YORK 10001
TEL: 212/946-3233
Email: [email protected]
---------------------------------------
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DIST DATE: 05/25/99 PAGE # 3
<S> <C> <C>
Sec. 4.02(iii) Aggregate Amount of Servicing Compensation 39,197.58
Sec. 4.02(iv) Aggregate Amount of P&I Advances for each Sub-Pool 1 0.00
Sec. 4.02(iv) Aggregate Amount of P&I Advances for each Sub-Pool 2 0.00
Sec. 4.02(v) Aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties for Sub-Pool 1 148,422,296.73
Sec. 4.02(v) Aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties for Sub-Pool 2 71,518,173.29
Sec. 4.02(vi) Sub-Pool 1
Number of Mortgage Loans as of the related Due Period 478
Aggregate Principal Balance of Mortgage Loans as of the related Due Period 148,422,296.73
Weighted average remaining term to maturity as of the related Due Period 354.00
Weighted average Mortgage Rate of the Mortgage Loans as of the related Due Period 7.15
Sec. 4.02(vi) Sub-Pool 2
Number of Mortgage Loans as of the related Due Period 219
Aggregate Principal Balance of Mortgage Loans as of the related Due Period 71,518,173.29
Weighted average remaining term to maturity as of the related Due Period 349.00
Weighted average Mortgage Rate of the Mortgage Loans as of the related Due Period 6.68
Sec. 4.02(vii) DELINQUENCIES
--------------------------------------------------------------------
Group Totals
--------------------------------------------------------------------
Category Number Principal Balance Percentage
--------------------------------------------------------------------
0-30 days 0 0.00 0.00 %
31-60 days 0 0.00 0.00 %
61-90 days 0 0.00 0.00 %
91-120 days 0 0.00 0.00 %
121+ days 0 0.00 0.00 %
Total 0 0.00 0.00 %
--------------------------------------------------------------------
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
- -----------------------------------------------------------------------------------------------------------------------------------
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1999-2
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DIST DATE: 05/25/99 PAGE # 4
<S> <C> <C>
Sec. 4.02(vii) FORECLOSURE (Included in Delinquencies above)
Sec. 4.02(vii) LOANS IN BANKRUPTCY (Included in Delinquencies above)
Sec. 4.02(viii) REO Properties (Not Included in Delinquencies above)
Sec. 4.02(ix) Aggregate Book Value of REO Loans 0.00
Sec. 4.02(x) Aggregate Principal Prepayment made during the related Prepayment Period 941,782.03
Sec. 4.02(xi) Aggregate Realized Losses made during the related Prepayment Period
Sub-Pool 1 0.00
Sub-Pool 2 0.00
Sec. 4.02(xii) Aggregate Extraordinary Trust Fund Expenses withdrawn from the Collection Account
or the Distribution Account 0.00
Sec. 4.02(xvi) Aggregate Prepayment Interest Shortfalls, to the extent not covered by the Master Servicer 0.00
Sec. 4.02(xvii) Aggregate amount of Relief Act Interest Shortfall 0.00
Sec. 4.02(xviii) Applicable Bankruptcy Amount 100,000.00
Applicable Fraud Loss Amount 2,233,054.00
Applicable Special Hazard Amount 3,604,579.00
Sec. 4.02(xx) Mortgage Loans as to which foreclosure proceeeding have been concluded 0.00
Sec. 4.02(xxi) Mortgage Loans as to which a Final Liquidation has occurred
Number of loans 0.00
Unpaid principal balance 0.00
Liquidated Proceeds 0.00
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
</TABLE>
