Banc One Financial Services Home Equity Loan Trust 1999-1
Monthly Servicing Report
For the Collection & Interest Period Ending 08/31/2000
For Distribution on 9/25/2000
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A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $1,680,496.63
(ii) Principal Collections $457,036.58
(iii) Principal Curtailments $159,093.68
(iv) Principal Prepayments in Full $4,427,011.05
(v) Count Principal Prepayments in Full 115
(B) Net Liquidation Proceeds net of related Foreclosure Profits $78,219.38
(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 $311,748.08
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $7,113,605.40
(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 (Incl. REO, FC and Bankruptcies) 179 $6,153,374.10 3.755%
(ii) 60-89 Days Delinquent (Incl. REO, FC and Bankruptcies) 83 $2,601,805.38 1.588%
(iii) 90 Days or More Delinquent (Incl. REO, FC and Bankruptcies) 189 $8,728,477.68 5.326%
(iv) Loans in REO status at end of Collection Period 22 $1,769,911.48 1.080%
(v) Loans in Foreclosure 64 $3,787,191.39 2.311%
(vi) Loans in Bankruptcy or Insolvency Proceedings 140 $5,320,604.91 3.247%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 272 $11,330,283.06 6.914%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 189 $8,728,477.68 5.326%
(B) Liquidation Losses / Monthly Loss Rate (Annualized) $661,592.61 4.679%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $787,492.96
(B) Net Available Distribution Amount $7,019,372.70
(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 $5,043,141.31
(ii) plus Principal Balance of Liquidated Home Equity Loans $739,811.99
(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 $5,782,953.30
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $5,782,953.30
(D) Formula Principal Distribution Amount required to maintain OC $5,782,953.30
(E) Class A-4 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $7,113,605.40
(B) Master Service Fee $70,693.96
(C) Available Funds $7,042,911.44
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $7,042,911.44
(A) Trustee Fee and Premium Amount:
(i) Trustee Fee $1,908.74
(ii) Premium Amount $21,630.00
(B) Accrued and Unpaid Master Servicing Fee: $0.00
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $300,106.07
(b) Current Monthly Interest Amount Paid $300,106.07
(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 $787,492.96
(vi) Total Current Montly Interest Amount Paid $787,492.96
(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
(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 $5,782,953.30
(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 $5,782,953.30
(F) Reimbursement Amount owed to Certificate Insurer: $0.00
(G) Non Recoverable Advances not previously reimbursed
to Master Servicer: $0.00
(H) Excess Spread: $448,926.44
(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
(J) Other Amounts owed to Certificate Insurer: $0.00
(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
(vii) Total Remaining Prepayment Interest Shortfall $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00
(iii) Reimbursement of Unreimbursed Monthly Advances $311,748.08
(M) Other termination/transfer amounts due to Trustee $0.00
(N) Amount released to Class R Certificateholder $137,178.36
G. CALCULATION OF OC TARGET AMOUNT
(A) Twelve Month Average Monthly Loss Rate
(Not applicable until 12th Distribution Date) 0.713%
(B) Is Rolling Twelve Month Loss Rate greater than 2.75%? No
(C) Cumulative Losses / Cumulative Loss Rate $1,261,122.44 0.449%
(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 $59,426,945.30 $53,643,992.00
(ii) Class A-1 Certificate Factor 0.3212267 0.2899675
(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
(viii) Class A-4 Certificate Factor 1.0000000 1.0000000
(ix) Aggregate Certificate Balance $149,982,945.30 $144,199,992.00
(x) Aggregate Certificate Factor 0.5442921 0.5233056
(B) Collateral Pool
(i) Pool Principal Balance $169,665,511.80 $163,882,558.50
(ii) Weighted Average Loan Rate 11.958% 11.958%
(iii) Weighted Average Original Term (months) 203.45 203.45
(iv) Weighted Average Remaining Term (months) 172.90 172.72
(v) Loan Count 4,290 4,139
(vi) 3 Largest Loan Pool Balances $952,708.46 $952,534.76
(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) 0.713%
(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) 5.276%
(D) Is Rolling Six Month Delinquency Rate greater than 5.00%? Yes
(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 $300,106.07 1.62219499
(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 $787,492.96 2.85783273
(B) Amount of distribution allocable to Formula Principal Distributable Amount
(i) Class A-1 Certificate $5,782,953.30 31.25920703
(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 $5,782,953.30 20.98649022
(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 $6,083,059.37 32.88140202
(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 $6,570,446.26 23.84432296
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