Banc One Financial Services Home Equity Loan Trust 1999-1
Monthly Servicing Report
For the Collection & Interest Period Ending 05/31/2000
For Distribution on 6/26/2000
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A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $1,706,966.22
(ii) Principal Collections $624,794.06
(iii) Principal Curtailments $57,210.85
(iv) Principal Prepayments in Full $4,233,260.79
(v) Count Principal Prepayments in Full 110
(B) Net Liquidation Proceeds net of related Foreclosure Profits $33,868.05
(C) Insurance Proceeds to extent not included in Net Liquidation Proceeds $0.00
(D) Proceeds from Loan Repurchases or Substitution Adjustments $0.00
(E) Released Mortgaged Property Proceeds $0.00
(F) Other Amounts
(i) Net REO Revenue $0.00
(ii) Compensating Interest $0.00
(iii) Net Loss on Eligible Investments $0.00
(G) Monthly Advance $242,541.64
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $6,898,641.61
(J) Civil Relief Act Shortfall $0.00
(K) Prepayment Interest Shortfall $0.00
B. CURRENT PERIOD DELINQUENCIES & LIQUIDATION LOAN LOSSES
(A) Delinquent Loans, REO, Foreclosures and Bankruptcies Count Amount Percentage
(i) 30-59 Days Delinquent 60 $2,692,951.33 1.516%
(ii) 60-89 Days Delinquent 27 $1,007,386.20 0.567%
(iii) 90 Days or More Delinquent 130 $5,511,695.33 3.102%
(iv) Loans in REO status at end of Collection Period 20 $1,428,570.04 0.804%
(v) Loans in Foreclosure 41 $2,640,815.89 1.486%
(vi) Loans in Bankruptcy or Insolvency Proceedings 104 $4,151,899.07 2.337%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 177 $7,947,651.57 4.473%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 150 $6,940,265.37 3.798%
(B) Liquidation Losses / Monthly Loss Rate (Annualized) $98,271.62 0.645%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $853,449.93
(B) Net Available Distribution Amount $6,796,750.53
(C) Insured or Deficiency Amount (max(0,(A-B)) $0.00
(D) Preference Amount $0.00
(E) Insured Payments (C+D) $0.00
D. CURRENT PERIOD FORMULA PRINCIPAL DISTRIBUTION AMOUNT
(A) Principal Distributable Amount
(i) Total Principal Collections $4,915,265.70
(ii) plus Principal Balance of Liquidated Home Equity Loans $132,139.67
(iii) plus Insurance Proceeds received $0.00
(iv) plus Portion of Purchase Price allocable to Principal of Defective Home Equity Loans $0.00
(v) plus Principal Portion of Substitution Adjustments not previously distributed $0.00
(vi) equals Total Principal Distributable Amount $5,047,405.37
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $5,047,405.37
(D) Formula Principal Distribution Amount required to maintain OC $5,047,405.37
(E) Class A-4 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $6,898,641.61
(B) Master Service Fee $76,135.96
(C) Available Funds $6,822,505.65
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $6,822,505.65
F. WATERFALL AMOUNTS REMAINING AVAIL REMAINING TOTAL REMAINING
FUNDS( interest AVAIL FUNDS AVAILABLE FUNDS
only) (principal only)
(A) Trustee Fee and Premium Amount: $1,775,100.28 $5,047,405.37 $6,822,505.65
(i) Trustee Fee $2,055.67 $1,773,044.61
(ii) Premium Amount $23,699.45 $1,749,345.16
(B) Accrued and Unpaid Master Servicing Fee: $0.00 $1,749,345.16
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $366,063.04
(b) Current Monthly Interest Amount Paid $366,063.04
(c) Interest Shortfall $0.00
(ii) Class A-2 Certificate
(a) Current Monthly Interest Amount Due $160,125.00
(b) Current Monthly Interest Amount Paid $160,125.00
(c) Interest Shortfall $0.00
(iii) Class A-3 Certificate
(a) Current Monthly Interest Amount Due $175,659.00
(b) Current Monthly Interest Amount Paid $175,659.00
(c) Interest Shortfall $0.00
(iv) Class A-4 Certificate
(a) Current Monthly Interest Amount Due $151,602.88
(b) Current Monthly Interest Amount Paid $151,602.88
(c) Interest Shortfall $0.00
(v) Total Current Monthly Interest Amount Due $853,449.93
(vi) Total Current Montly Interest Amount Paid $853,449.93 $895,895.24
(vii) Total Interest Shortfall $0.00
(D) Unpaid Interest Shortfall and Interest on Unpaid Interest Shortfall:
(i) Class A-1 Certificate
(a) Unpaid Interest Shortfall Due $0.00
(b) Unpaid Interest Shortfall Paid $0.00
(c) Remaining Unpaid Interest Shortalls $0.00
(ii) Class A-2 Certificate
(a) Unpaid Interest Shortfall Due $0.00
(b) Unpaid Interest Shortfall Paid $0.00
(c) Remaining Unpaid Interest Shortalls $0.00
(iii) Class A-3 Certificate
(a) Unpaid Interest Shortfall Due $0.00
(b) Unpaid Interest Shortfall Paid $0.00
(c) Remaining Unpaid Interest Shortalls $0.00
(iv) Class A-4 Certificate
(a) Unpaid Interest Shortfall Due $0.00
(b) Unpaid Interest Shortfall Paid $0.00
(c) Remaining Unpaid Interest Shortalls $0.00
(v) Total Unpaid Interest Shortfall Due $0.00
(vi) Total Unpaid Interest Shortfall Paid $0.00 $895,895.24
(vii) Total Remaining Unpaid Interest Shortfall $0.00
(E) Monthly Principal Distribution:
(i) Class A-4 Certificate Priority Amount $0.00
(ii) Class A-1 Certificate $5,047,405.37
(iii) Class A-2 Certificate $0.00
(iv) Class A-3 Certificate $0.00
(v) Other Class A-4 Certificate Amounts $0.00
(vi) Total Monthly Principal Distribution $5,047,405.37 $0.00
(F) Reimbursement Amount owed to Certificate Insurer: $0.00 $895,895.24
(G) Non Recoverable Advances not previously
reimbursed to Master Servicer: $0.00 $895,895.24
(H) Excess Spread: $895,895.24
(I) Distributable Excess Spread Allocation:
(i) Class A-1 Certificate $0.00
(ii) Class A-2 Certificate $0.00
(iii) Class A-3 Certificate $0.00
(iv) Class A-4 Certificate $0.00
(v) Total Certificate Distributable Excess Spread $0.00 $895,895.24
(J) Other Amounts owed to Certificate Insurer: $0.00 $895,895.24
(K) Prepayment Interest Shortfall owed to Certificateholders
(i) Class A-1 Certificate
(a) Prepayment Interest Shortfall Due $0.00
(b) Prepayment Interest Shortfall Paid $0.00
(c) Remaining Prepayment Interest Shortfall $0.00
(ii) Class A-2 Certificate
(a) Prepayment Interest Shortfall Due $0.00
(b) Prepayment Interest Shortfall Paid $0.00
(c) Remaining Prepayment Interest Shortfall $0.00
(iii) Class A-3 Certificate
(a) Prepayment Interest Shortfall Due $0.00
(b) Prepayment Interest Shortfall Paid $0.00
(c) Remaining Prepayment Interest Shortfall $0.00
(iv) Class A-4 Certificate
(a) Prepayment Interest Shortfall Due $0.00
(b) Prepayment Interest Shortfall Paid $0.00
(c) Remaining Prepayment Interest Shortfall $0.00
(v) Total Prepayment Interest Shortfall Due $0.00
(vi) Total Prepayment Interest Shortfall Paid $0.00 $895,895.24
(vii) Total Remaining Prepayment Interest Shortfall $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00 $895,895.24
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00 $895,895.24
(iii) Reimbursement of Unreimbursed Monthly Advances $257,849.86 $638,045.38
(M) Other termination/transfer amounts due to Trustee $0.00 $638,045.38
(N) Amount released to Class R Certificateholder $638,045.38
G. CALCULATION OF OC TARGET AMOUNT
(A) Twelve Month Average Monthly Loss Rate
(Not applicable until 12th Distribution Date) 0.206%
(B) Is Rolling Twelve Month Loss Rate greater than 2.75%? No
(C) Cumulative Losses / Cumulative Loss Rate $395,832.33 0.141%
(D) Is Cumulative Loss Rate greater than 5.00%? No
(E) Has OC Stepdown Date been reached? No
(F) Overcollateralization Target Amount $19,682,566.50
H. COMPARATIVE POOL AND CERTIFICATE CHARACTERISTICS
Begin of Collection Period End of Collection Period
(A) Certificate Balances and Factors
(i) Class A-1 Certificate Balance $72,487,731.37 $67,440,326.00
(ii) Class A-1 Certificate Factor 0.3918256 0.3645423
(iii) Class A-2 Certificate Balance $30,500,000.00 $30,500,000.00
(iv) Class A-2 Certificate Factor 1.0000000 1.0000000
(v) Class A-3 Certificate Balance $31,938,000.00 $31,938,000.00
(vi) Class A-3 Certificate Factor 1.0000000 1.0000000
(vii) Class A-4 Certificate Balance $28,118,000.00 $28,118,000.00
(vii) Class A-4 Certificate Factor 1.0000000 1.0000000
(ix) Aggregate Certificate Balance $163,043,731.37 $157,996,326.00
(x) Aggregate Certificate Factor 0.5916900 0.5733728
(B) Collateral Pool
(i) Pool Principal Balance $182,726,297.87 $177,678,892.50
(ii) Weighted Average Loan Rate 11.970% 11.971%
(iii) Weighted Average Original Term (months) 203.45 203.45
(iv) Weighted Average Remaining Term (months) 176.06 174.72
(v) Loan Count 4,599 4,487
(vi) 3 Largest Loan Pool Balances $954,220.50 $953,292.35
(C) Overcollateralization Amount $19,682,566.50 $19,682,566.50
I. MASTER SERVICER TERMINATION & OTHER TRIGGER TESTS
(A) Twelve Month Average Monthly Loss Rate (Not applicable until 12th Distribution Date) 0.206%
(B) Is Rolling Twelve Month Loss Rate greater than 4.00%? No
(C) Six Month Average of Pool Delinquency Rate (Not applicable until 6th Distribution Date) 3.773%
(D) Is Rolling Six Month Delinquency Rate greater than 5.00%? No
(E) Has Deposit Event Occurred? No
J. SUMMARY STATEMENT OF AMOUNTS DUE TO CERTIFICATEHOLDERS
Dollars Per $1000 of
Original
Certificate
Principal
(A) Amount of distribution allocable to Current
Monthly Interest & Unpaid Interest Shortfall
(i) Class A-1 Certificate $366,063.04 1.97871915
(ii) Class A-2 Certificate $160,125.00 5.25000000
(iii) Class A-3 Certificate $175,659.00 5.50000000
(iv) Class A-4 Certificate $151,602.88 5.39166667
(v) Total $853,449.93 3.09719232
(B) Amount of distribution allocable to Formula Principal Distributable Amount
(i) Class A-1 Certificate $5,047,405.37 27.28327227
(ii) Class A-2 Certificate $0.00 0.00000000
(iii) Class A-3 Certificate $0.00 0.00000000
(iv) Class A-4 Certificate $0.00 0.00000000
(v) Total $5,047,405.37 18.31716736
(C) Amount of distribution allocable to Distributable Excess Spread
(i) Class A-1 Certificate $0.00 0.00000000
(ii) Class A-2 Certificate $0.00 0.00000000
(iii) Class A-3 Certificate $0.00 0.00000000
(iv) Class A-4 Certificate $0.00 0.00000000
(v) Total $0.00 0.00000000
(D) Amount of distribution allocable to Prepayment Interest Shortfall
(i) Class A-1 Certificate $0.00 0.00000000
(ii) Class A-2 Certificate $0.00 0.00000000
(iii) Class A-3 Certificate $0.00 0.00000000
(iv) Class A-4 Certificate $0.00 0.00000000
(v) Total $0.00 0.00000000
(E) Total Principal and Interest Distributed to Certificateholders
(i) Class A-1 Certificate $5,413,468.41 29.26199142
(ii) Class A-2 Certificate $160,125.00 5.25000000
(iii) Class A-3 Certificate $175,659.00 5.50000000
(iv) Class A-4 Certificate $151,602.88 5.39166667
(v) Total $5,900,855.30 21.41435968
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