Banc One Financial Services Home Equity Loan Trust 1999-1
Monthly Servicing Report
For the Collection & Interest Period Ending 04/30/2000
For Distribution on 5/25/2000
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A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $1,737,907.71
(ii) Principal Collections $664,930.86
(iii) Principal Curtailments $74,207.18
(iv) Principal Prepayments in Full $2,933,229.29
(v) Count Principal Prepayments in Full 85
(B) Net Liquidation Proceeds net of related Foreclosure Profits $11,324.85
(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 $257,849.86
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $5,679,449.75
(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 58 $2,354,841.42 1.289%
(ii) 60-89 Days Delinquent 28 $1,125,134.78 0.616%
(iii) 90 Days or More Delinquent 129 $5,609,166.27 3.070%
(iv) Loans in REO status at end of Collection Period 17 $1,121,248.05 0.614%
(v) Loans in Foreclosure 43 $2,767,096.51 1.514%
(vi) Loans in Bankruptcy or Insolvency Proceedings 117 $4,566,453.14 2.499%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 174 $7,855,549.10 4.299%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 146 $6,730,414.32 3.610%
(B) Liquidation Losses $24,375.19 0.157%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $872,175.67
(B) Net Available Distribution Amount $5,575,214.82
(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 $3,672,367.33
(ii) plus Principal Balance of Liquidated Home Equity Loans $35,700.04
(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 $3,708,067.37
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $3,708,067.37
(D) Formula Principal Distribution Amount required to maintain OC $3,708,067.37
(E) Class A-4 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $5,679,449.75
(B) Master Service Fee $77,680.99
(C) Available Funds $5,601,768.76
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $5,601,768.76
F. WATERFALL AMOUNTS REMAINING AVAIL REMAINING TOTAL REMAINING
FUNDS( interest AVAIL FUNDS AVAILABLE FUNDS
only) (principal only)
(A) Trustee Fee and Premium Amount: $1,893,701.39 $3,708,067.37 $5,601,768.76
(i) Trustee Fee $2,097.39 $1,891,604.01
(ii) Premium Amount $24,456.56 $1,867,147.45
(B) Accrued and Unpaid Master Servicing Fee: $0.00 $1,867,147.45
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $384,788.78
(b) Current Monthly Interest Amount Paid $384,788.78
(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 $872,175.67
(vi) Total Current Montly Interest Amount Paid $872,175.67 $994,971.78
(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 $994,971.78
(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 $3,708,067.37
(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 $3,708,067.37 $0.00
(F) Reimbursement Amount owed to Certificate Insurer: $0.00 $994,971.78
(G) Non Recoverable Advances not previously reimbursed to
Master Servicer: $0.00 $994,971.78
(H) Excess Spread: $994,971.78
(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 $994,971.78
(J) Other Amounts owed to Certificate Insurer: $0.00 $994,971.78
(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 $994,971.78
(vii) Total Remaining Prepayment Interest Shortfall $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00 $994,971.78
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00 $994,971.78
(iii) Reimbursement of Unreimbursed Monthly Advances $928,325.61 $66,646.17
(M) Other termination/transfer amounts due to Trustee $0.00 $66,646.17
(N) Amount released to Class R Certificateholder $66,646.17
G. CALCULATION OF OC TARGET AMOUNT
(A) Twelve Month Average Monthly Loss Rate
(Not applicable until 12th Distribution Date) 0.152%
(B) Is Rolling Twelve Month Loss Rate greater than 2.75%? No
(C) Cumulative Loss Rate 0.106%
(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 $76,195,798.74 $72,487,731.37
(ii) Class A-1 Certificate Factor 0.4118692 0.3918256
(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 $166,751,798.74 $163,043,731.37
(x) Aggregate Certificate Factor 0.6051467 0.5916900
(B) Collateral Pool
(i) Pool Principal Balance $186,434,365.24 $182,726,297.87
(ii) Weighted Average Loan Rate 11.974% 11.970%
(iii) Weighted Average Original Term (months) 203.45 203.45
(iv) Weighted Average Remaining Term (months) 177.05 176.06
(v) Loan Count 4,687 4,599
(vi) 3 Largest Loan Pool Balances $955,110.43 $954,220.50
(C) Overcollateralization Amount $19,682,566.50 $19,682,566.50
I. MASTER SERVICER TERMINATION & OTHER TRIGGER TESTS
(A) Rolling Twelve Month Loss Rate 0.152%
(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) 3.521%
(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 $384,788.78 2.07993937
(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 $872,175.67 3.16514853
(B) Amount of distribution allocable to Formula Principal Distributable Amount
(i) Class A-1 Certificate $3,708,067.37 20.04360741
(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 $3,708,067.37 13.45667440
(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 $4,092,856.15 22.12354678
(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 $4,580,243.04 16.62182292
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