Banc One Financial Services Home Equity Loan Trust 1999-1
Monthly Servicing Report
For the Collection & Interest Period Ending 02/29/2000
For Distribution on 3/27/2000
REVISED 6/15/2000
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A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $1,907,300.92
(ii) Principal Collections $738,153.79
(iii) Principal Curtailments $109,092.41
(iv) Principal Prepayments in Full $4,565,852.76
(v) Count Principal Prepayments in Full 118
(B) Net Liquidation Proceeds net of related Foreclosure Profits $95,664.34
(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 $244,996.93
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $7,661,061.15
(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 72 $3,018,253.39 1.572%
(ii) 60-89 Days Delinquent 27 $966,463.10 0.503%
(iii) 90 Days or More Delinquent 128 $5,400,648.49 2.813%
(iv) Loans in REO status at end of Collection Period 13 $740,870.99 0.386%
(v) Loans in Foreclosure 40 $2,405,602.83 1.253%
(vi) Loans in Bankruptcy or Insolvency Proceedings 108 $3,909,103.87 2.036%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 168 $7,107,982.58 3.702%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 141 $6,141,519.48 3.108%
(B) Liquidation Losses / Monthly Loss Rate (Annualized) $58,130.72 0.353%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $928,481.92
(B) Net Available Distribution Amount $7,549,826.38
(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 $5,413,098.96
(ii) plus Principal Balance of Liquidated Home Equity Loans $153,795.06
(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 $5,566,894.02
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $5,566,894.02
(D) Formula Principal Distribution Amount required to maintain OC $5,566,894.02
(E) Class A-4 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $7,661,061.15
(B) Master Service Fee $82,326.72
(C) Available Funds $7,578,734.43
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $7,578,734.43
F. WATERFALL AMOUNTS REMAINING AVAIL REMAINING TOTAL REMAINING
FUNDS( interest AVAIL FUNDS AVAILABLE FUNDS
only) (principal only)
(A) Trustee Fee and Premium Amount: $2,011,840.41 $5,566,894.02 $7,578,734.43
(i) Trustee Fee $2,222.82 $2,009,617.59
(ii) Premium Amount $26,685.23 $1,982,932.36
(B) Accrued and Unpaid Master Servicing Fee: $0.00 $1,982,932.36
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $441,095.04
(b) Current Monthly Interest Amount Paid $441,095.04
(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 $928,481.92
(vi) Total Current Montly Interest Amount Paid $928,481.92 $1,054,450.43
(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 $1,054,450.43
(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 $5,566,894.02
(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 $5,566,894.02 $0.00
(F) Reimbursement Amount owed to Certificate Insurer: $0.00 $1,054,450.43
(G) Non Recoverable Advances not previously reimbursed to
Master Servicer: $0.00 $1,054,450.43
(H) Excess Spread: $1,054,450.43
(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 $1,054,450.43
(J) Other Amounts owed to Certificate Insurer: $0.00 $1,054,450.43
(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 $1,054,450.43
(vii) Total Remaining Prepayment Interest Shortfall $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00 $1,054,450.43
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00 $1,054,450.43
(iii) Reimbursement of Unreimbursed Monthly Advances $1,054,450.43 $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) 0.073%
(B) Is Rolling Twelve Month Loss Rate greater than 2.75%? No
(C) Cumulative Losses / Cumulative Loss Rate $146,483.31 0.052%
(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 $87,345,552.78 $81,778,658.76
(ii) Class A-1 Certificate Factor 0.4721381 0.4420468
(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 $177,901,552.78 $172,334,658.76
(x) Aggregate Certificate Factor 0.6456094 0.6254070
(B) Collateral Pool
(i) Pool Principal Balance $197,584,119.28 $192,017,225.26
(ii) Weighted Average Loan Rate 11.981% 11.968%
(iii) Weighted Average Original Term (months) 203.45 203.45
(iv) Weighted Average Remaining Term (months) 179.15 178.09
(v) Loan Count 4,925 4,807
(vi) 3 Largest Loan Pool Balances $956,910.59 $955,678.46
(C) Overcollateralization Amount $19,682,566.50 $19,682,566.50
I. MASTER SERVICER TERMINATION & OTHER TRIGGER TESTS
(A) Rolling Twelve Month Loss Rate 0.073%
(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) 2.825%
(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 $441,095.04 2.38429752
(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 $928,481.92 3.36948542
(B) Amount of distribution allocable to Formula
Principal Distributable Amount
(i) Class A-1 Certificate $5,566,894.02 30.09131903
(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 $5,566,894.02 20.20240539
(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 $6,007,989.06 32.47561655
(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 $6,495,375.94 23.57189081
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