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) : June 21, 1999
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-39127-02 13-5674085
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
World Financial Center North Tower
250 Vesey Street, 17th Floor
New York, New York 10281-1315
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code : (212) 449-1000
N/A
(Former name or former address, if changed since last report.)
Page 1 of 4
This report consists of 8
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
Mortgage Loan Asset-Backed Certificates, Series 1999-H1 (the "Certificates").
The Certificates were issued, and this report and exhibit is being filed,
pursuant to the terms of the Pooling and Servicing Agreement, dated as of
February 1, 1999 ( the "Agreement"), among Merrill Lynch Mortgage Investors,
Inc., as depositor, and The Chase Manhattan Bank, as master servicer and
trustee. On June 21, 1999 distribution was made to the Certificateholders.
Specific information with respect to the distribution is filed as Exhibit 99.1.
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 exhibit is filed as part of this report:
Statement to Certificateholders on June 21, 1999,
as Exhibit 99.1.
<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: July 15, 1999 By: /s/ Thomas Provenzano
Thomas J. Provenzano
Vice President
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits Page
99.1 Monthly Certificateholder Statement on 5
June 21, 1999.
<PAGE>
Exhibit 99.1
Monthly Certificateholder Statement on June 21, 1999
<PAGE>
<TABLE>
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MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE LOAN ASSET BACKED CERTIFICATES SERIES 1999-H1
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
DIST DATE: 06/21/99 PAGE # 1
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ORIGINAL PRIOR CURRENT
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
A1 116,000,000.00 105,582,424.51 546,389.05 3,572,245.92 4,118,634.97 0.00 0.00 102,010,178.59
A2 45,000,000.00 45,000,000.00 244,500.00 0.00 244,500.00 0.00 0.00 45,000,000.00
A3 15,000,000.00 15,000,000.00 84,500.00 0.00 84,500.00 0.00 0.00 15,000,000.00
A4 16,037,000.00 16,037,000.00 96,355.64 0.00 96,355.64 0.00 0.00 16,037,000.00
A5 22,000,000.00 22,000,000.00 123,566.67 0.00 123,566.67 0.00 0.00 22,000,000.00
M1 15,157,000.00 15,157,000.00 92,962.93 0.00 92,962.93 0.00 0.00 15,157,000.00
M2 10,735,000.00 10,735,000.00 70,224.79 0.00 70,224.79 0.00 0.00 10,735,000.00
B 12,000,000.00 12,000,000.00 81,500.00 0.00 81,500.00 0.00 0.00 12,000,000.00
X 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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TOTALS 251,929,000.00 241,511,424.51 1,339,999.08 3,572,245.92 4,912,245.00 0.00 0.00 237,939,178.59
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AIO 34,000,000.00 34,000,000.00 170,000.00 0.00 170,000.00 0.00 0.00 34,000,000.00
- -----------------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- ----------------------------------------------
FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE PASS-THROUGH RATES
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL PASS-THRU
CLASS FACTOR INTEREST PRINCIPAL TOTAL FACTOR CLASS RATE
- -------------------------------------------------------------------------------- ----------------------------------------------
A1 910.1933147 4.710250 30.795223 35.505474 879.3980913 A1 6.210000 %
A2 1,000.0000000 5.433333 0.000000 5.433333 1,000.0000000 A2 6.520000 %
A3 1,000.0000000 5.633333 0.000000 5.633333 1,000.0000000 A3 6.760000 %
A4 1,000.0000000 6.008333 0.000000 6.008333 1,000.0000000 A4 7.210000 %
A5 1,000.0000000 5.616667 0.000000 5.616667 1,000.0000000 A5 6.740000 %
M1 1,000.0000000 6.133333 0.000000 6.133333 1,000.0000000 M1 7.360000 %
M2 1,000.0000000 6.541667 0.000000 6.541667 1,000.0000000 M2 7.850000 %
B 1,000.0000000 6.791667 0.000000 6.791667 1,000.0000000 B 8.150000 %
- -------------------------------------------------------------------------------- ----------------------------------------------
TOTALS 958.6487642 5.318955 14.179574 19.498529 944.4691901
- --------------------------------------------------------------------------------
AIO 1,000.00 5.000000 0.000000 5.000000 1,000.00 AIO 6.000000 %
- -------------------------------------------------------------------------------- ----------------------------------------------
If there are any questions or problems with this statement, please contact
the Administrator listed below:
---------------------------------------
TOM PROVENZANO
THE CHASE MANHATTAN BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 14TH FLOOR
NEW YORK, NEW YORK 10001
Email: [email protected]
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(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
</TABLE>
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<TABLE>
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MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE LOAN ASSET BACKED CERTIFICATES SERIES 1999-H1
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DIST DATE: 06/21/99 PAGE # 2
<S> <C> <C>
Sec.4.02 Class A Interest Carry Forward Amount 0.00
Sec. 4.02 Class M-1 Interest Carry Forward Amount 0.00
Sec. 4.02 Class M-1 Unpaid Realized Loss Amount 0.00
Sec. 4.02 Class M-1 Applied Realized Loss Amount 0.00
Sec. 4.02 Class M-1 Applied Realized Loss Amortization Amount 0.00
Sec. 4.02 Class M-2 Interest Carry Forward Amount 0.00
Sec. 4.02 Class M-2 Unpaid Realized Loss Amount 0.00
Sec. 4.02 Class M-2 Applied Realized Loss Amount 0.00
Sec. 4.02 Class M-2 Applied Realized Loss Amortization Amount 0.00
Sec. 4.02 Class B Interest Carry Forward Amount 0.00
Sec. 4.02 Class B Unpaid Realized Loss Amount 0.00
Sec. 4.02 Class B Applied Realized Loss Amount 0.00
Sec. 4.02 Class B Applied Realized Loss Amortization Amount 0.00
Sec. 4.02 Class X Distributable Amount 46,445.18
Sec. 4.02 The Interest Remittance Amount 1,926,309.20
Sec. 4.02 The Principal Remittance Amount 3,155,935.80
Sec. 4.02 The Monthly Excess Cashflow Amount 416,310.12
Sec. 4.02 The Extra Principal Distribution Flow Amount 416,310.12
Sec. 4.02 The Target Overcollateralization Amount 7,683,834.50
Sec. 4.02 The Overcollateralization Amount 1,664,878.43
Sec. 4.02 The Overcollateralization Deficiency 6,018,956.07
Sec. 4.02 The Overcollateralization Release Amount 0.00
Sec. 4.02 The Aggregate Amount of Servicing Compensation received by the Servicer 106,204.75
Sec. 4.02 The Aggregate Amount of Advances 0.00
Sec. 4.02 The Aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties 239,604,057.02
Sec. 4.02 The Aggregate Number of the Mortgage Loans as of the related Due Date 3,229
Sec. 4.02 The Aggregate Principal Balance of the Mortgage Loans as of the related Due Date 239,604,057.02
Sec. 4.02 The Weighted Average Mortgage Rate of the Mortgage Loans as of the related Due Date 10.04813400%
Sec. 4.02 The Aggregate Amount of Principal Prepayments During the related Collection Period 2,955,830.85
(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>
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MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE LOAN ASSET BACKED CERTIFICATES SERIES 1999-H1
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DIST DATE: 06/21/99 PAGE # 3
<S> <C> <C>
Sec. 4.02 The Aggregate Amount of Realized Losses incurred During the related Collection Period 0.00
Sec. 4.02 The Aggregate Amount of Extraordinary Trust Fund Expenses During the related Collection Period 0.00
Sec. 4.02 The Aggregate Amount of Relief Act Interest Shortfalls for such Distribution Date 0.00
Sec. 4.02 The Three-Month Rolling Average of 60+ Delinquent Loans 1.22148597 %
Sec. 4.02 The Master Servicing Termination Trigger N/A
Sec. 4.02 The Aggregate Amount of Prepayment Penalties collected during the related Collection Period 46,445.18
Sec. 4.02 Loans Delinquent
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Group Totals
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Period Number Principal Balance Percentage
--------------------------------------------------------------------
31-60 days 112 8,432,955.69 3.52 %
61-90 days 18 1,856,943.37 0.78 %
91 + days 28 1,920,454.53 0.80 %
Total 158 12,210,353.59 5.10 %
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Sec. 4.02 Loans in Foreclosure
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Group Totals
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Number Principal Balance Percentage
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0 0.00 0.00 %
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Sec. 4.02 Loans in Bankruptcy
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Group Totals
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Number Principal Balance Percentage
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0 0.00 0.00 %
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Sec. 4.02 Loans in REO
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Group Totals
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Number Principal Balance Percentage
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0 0.00 0.00 %
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(C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
</TABLE>
