Banc One Financial Services Home Equity Loan Trust 1999-1
Monthly Servicing Report
For the Collection & Interest Period Ending 06/30/2000
For Distribution on 7/25/2000
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A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $1,374,234.76
(ii) Principal Collections $248,664.99
(iii) Principal Curtailments $109,025.65
(iv) Principal Prepayments in Full $3,430,657.13
(v) Count Principal Prepayments in Full 95
(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 $436,580.26
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $5,599,162.79
(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) 183 $6,950,036.03 3.997%
(ii) 60-89 Days Delinquent (Incl. REO, FC and Bankruptcies) 36 $1,411,928.06 0.812%
(iii) 90 Days or More Delinquent (Incl. REO, FC and Bankruptcies) 171 $7,674,468.79 4.413%
(iv) Loans in REO status at end of Collection Period 19 $1,586,982.25 0.913%
(v) Loans in Foreclosure 35 $1,944,968.05 1.119%
(vi) Loans in Bankruptcy or Insolvency Proceedings 116 $4,803,290.90 2.762%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 226 $9,086,396.85 5.225%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 190 $7,674,468.79 4.413%
(B) Liquidation Losses / Monthly Loss Rate (Annualized) $0.00 0.000%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $827,960.53
(B) Net Available Distribution Amount $5,499,999.83
(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
(A) Principal Distributable Amount
(i) Total Principal Collections $3,788,347.77
(ii) plus Principal Balance of Liquidated Home Equity Loans $0.00
(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 $3,788,347.77
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $3,788,347.77
(D) Formula Principal Distribution Amount required to maintain OC $3,788,347.77
(E) Class A-4 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $5,599,162.79
(B) Master Service Fee $74,032.87
(C) Available Funds $5,525,129.92
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $5,525,129.92
F. WATERFALL AMOUNTS REMAINING AVAIL REMAINING TOTAL REMAINING
FUNDS( interest AVAIL FUNDS AVAILABLE FUNDS
only) (principal only)
(A) Trustee Fee and Premium Amount: $1,736,782.15 $3,788,347.77 $5,525,129.92
(i) Trustee Fee $1,998.89 $1,734,783.26
(ii) Premium Amount $23,131.20 $1,711,652.06
(B) Accrued and Unpaid Master Servicing Fee: $0.00 $1,711,652.06
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $340,573.65
(b) Current Monthly Interest Amount Paid $340,573.65
(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 $827,960.53
(vi) Total Current Montly Interest Amount Paid $827,960.53 $883,691.53
(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 $883,691.53
(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 $3,788,347.77
(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 $3,788,347.77 $0.00
(F) Reimbursement Amount owed to Certificate Insurer: $0.00 $883,691.53
(G) Non Recoverable Advances not previously
reimbursed to Master Servicer: $0.00 $883,691.53
(H) Excess Spread: $883,691.53
(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 $883,691.53
(J) Other Amounts owed to Certificate Insurer: $0.00 $883,691.53
(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 $883,691.53
(vii) Total Remaining Prepayment Interest Shortfall $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00 $883,691.53
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00 $883,691.53
(iii) Reimbursement of Unreimbursed Monthly Advances $242,541.64 $641,149.89
(M) Other termination/transfer amounts due to Trustee $0.00 $641,149.89
(N) Amount released to Class R Certificateholder $641,149.89
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 $67,440,326.00 $63,651,978.23
(ii) Class A-1 Certificate Factor 0.3645423 0.3440647
(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 $157,996,326.00 $154,207,978.23
(x) Aggregate Certificate Factor 0.5733728 0.5596248
(B) Collateral Pool
(i) Pool Principal Balance $177,678,892.50 $173,890,544.73
(ii) Weighted Average Loan Rate 11.971% 11.967%
(iii) Weighted Average Original Term (months) 203.45 203.45
(iv) Weighted Average Remaining Term (months) 174.72 173.47
(v) Loan Count 4,487 4,392
(vi) 3 Largest Loan Pool Balances $953,292.35 $952,964.76
(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) 0.206%
(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) 4.182%
(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 $340,573.65 1.84093863
(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 $827,960.53 3.00469062
(B) Amount of distribution allocable to Formula Principal
Distributable Amount
(i) Class A-1 Certificate $3,788,347.77 20.47755551
(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 $3,788,347.77 13.74801409
(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 $4,128,921.42 22.31849414
(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 $4,616,308.30 16.75270471
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