Banc One Financial Services Home Equity Loan Trust 1999-1
Monthly Servicing Report
For the Collection & Interest Period Ending 01/31/2000
For Distribution on 2/25/2000
REVISED 6/15/2000
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A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $1,918,863.11
(ii) Principal Collections $ 307,821.92
(iii) Principal Curtailments $ 398,893.36
(iv) Principal Prepayments in Full $3,286,375.40
(v) Count Principal Prepayments in Full 85
(B) Net Liquidation Proceeds net of related Foreclosure Profits $0.00
(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 $284,812.45
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $6,196,766.24
(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 84 $3,665,653.96 1.855%
(ii) 60-89 Days Delinquent 30 $1,336,795.13 0.677%
(iii) 90 Days or More Delinquent 119 $4,935,558.31 2.498%
(iv) Loans in REO status at end of Collection Period 10 $589,079.81 0.298%
(v) Loans in Foreclosure 46 $2,723,680.91 1.378%
(vi) Loans in Bankruptcy or Insolvency Proceedings 108 $3,978,931.81 2.014%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 159 $6,861,433.25 3.473%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 129 $5,524,638.12 2.740%
(B) Liquidation Losses / Monthly Loss Rate (Annualized) $88,352.59 0.526%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $952,079.98
(B) Net Available Distribution Amount $6,083,084.02
(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 $3,993,090.68
(ii) plus Principal Balance of Liquidated Home Equity Loans $88,352.59
(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 $4,081,443.27
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $4,081,443.27
(D) Formula Principal Distribution Amount required to maintain OC $4,081,443.27
(E) Class A-4 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $6,196,766.24
(B) Master Service Fee $84,027.32
(C) Available Funds $6,112,738.92
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $6,112,738.92
F. WATERFALL AMOUNTS REMAINING AVAIL REMAINING AVAIL TOTAL REMAINING
FUNDS (INT ONLY) FUNDS (PRIN ONLY) AVAILABLE FUNDS
(A) Trustee Fee and Premium Amount: $2,031,295.65 $4,081,443.27 $6,112,738.92
(i) Trustee Fee $2,268.74 $2,029,026.91
(ii) Premium Amount $27,386.17 $2,001,640.75
(B) Accrued and Unpaid Master Servicing Fee: $0.00 $2,001,640.75
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $464,693.09
(b) Current Monthly Interest Amount Paid $464,693.09
(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 $952,079.98
(vi) Total Current Montly Interest Amount Paid $952,079.98 $1,049,560.77
(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 Shortfalls $0.00
(v) Total Unpaid Interest Shortfall Due $0.00
(vi) Total Unpaid Interest Shortfall Paid $0.00 $1,049,560.77
(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 $4,081,443.27
(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 $4,081,443.27 $0.00
(F) Reimbursement Amount owed to Certificate Insurer: $0.00 $1,049,560.77
(G) Non Recoverable Advances not previously reimbursed to Master Servicer:
$0.00 $1,049,560.77
(H) Excess Spread: $1,049,560.77
(I) Distributable Excess Spread Allocation:
(i) Class A-1 Certificate $591,438.39
(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 $591,438.39 $458,122.00
(J) Other Amounts owed to Certificate Insurer: $0.00 $458,122.00
(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 $458,122.00
(vii) Total Remaining Prepayment Interest Shortfall $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00 $458,122.38
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00 $458,122.38
(iii) Reimbursement of Unreimbursed Monthly Advances $458,122.38 $0.00
(M) Other termination/transfer amounts due to Trustee $0.00 $0.00
(N) Amount released to Class R Certificateholder $0.00
G. CALCULATION OF OC TARGET AMOUNT
(A) Twelve Month Average Monthly Loss Rate (Not applicable until 12th Distribution Date) N/A
(B) Is Rolling Twelve Month Loss Rate greater than 2.75%? N/A
(C) Cumulative Losses / Cumulative Loss Rate $88,352.59 0.031%
(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 End of Collection
Collection Period Collection Period
(A) Certificate Balances and Factors
(i) Class A-1 Certificate Balance $ 92,018,434.44 $87,345,552.78
(ii) Class A-1 Certificate Factor 0.4973969 0.4721381
(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 $182,574,434.44 $177,901,552.78
(x) Aggregate Certificate Factor 0.6625674 0.6456094
(B) Collateral Pool
(i) Pool Principal Balance $201,665,562.55 $197,584,119.28
(ii) Weighted Average Loan Rate 11.983% 11.981%
(iii) Weighted Average Original Term (months) 203.45 203.45
(iv) Weighted Average Remaining Term (months) 179.90 179.15
(v) Loan Count 5,022 4,925
(vi) 3 Largest Loan Pool Balances $957,628.21 $956,910.59
(C) Overcollateralization Amount $19,091,128.11 $19,682,566.50
I. MASTER SERVICER TERMINATION & OTHER TRIGGER TESTS
(A) Rolling Twelve Month Loss Rate N/A
(B) Is Rolling Twelve Month Loss Rate greater than 4.00%? N/A
(C) Six Month Average of Pool Delinquency Rate (Not applicable until 6th Distribution Date) 2.465%
(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
(A) Amount of distribution allocable to Current Dollars Per $1000 of Original
Monthly Interest & Unpaid Interest Shortfall Certificate Principal
(i) Class A-1 Certificate $464,693.09 2.51185456
(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 $952,079.98 3.45512338
(B) Amount of distribution allocable to Formula Principal Distributable Amount
(i) Class A-1 Certificate $4,081,443.27 22.06185551
(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 $4,081,443.27 14.81166540
(C) Amount of distribution allocable to Distributable Excess Spread
(i) Class A-1 Certificate $591,438.39 3.19696427
(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 $591,438.39 2.14634553
(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 $5,137,574.75 27.77067435
(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 $5,624,961.64 20.41313431
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