Banc One Financial Services Home Equity Loan Trust 1999-1
Monthly Servicing Report
For the Collection & Interest Period Ending 03/31/2000
For Distribution on 4/25/2000
REVISED 6/15/2000
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A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $1,889,569.64
(ii) Principal Collections $792,928.29
(iii) Principal Curtailments $33,624.73
(iv) Principal Prepayments in Full $4,588,050.95
(v) Count Principal Prepayments in Full 115
(B) Net Liquidation Proceeds net of related Foreclosure Profits $41,553.84
(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 $183,472.98
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $7,529,200.43
(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 69 $2,730,862.54 1.465%
(ii) 60-89 Days Delinquent 26 $1,085,904.35 0.582%
(iii) 90 Days or More Delinquent 133 $5,356,282.64 2.873%
(iv) Loans in REO status at end of Collection Period 13 $862,735.80 0.463%
(v) Loans in Foreclosure 42 $2,547,372.10 1.366%
(vi) Loans in Bankruptcy or Insolvency Proceedings 116 $4,536,593.00 2.433%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 172 $7,304,922.79 3.918%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 146 $6,219,018.44 3.239%
(B) Liquidation Losses / Monthly Loss Rate (Annualized) $126,702.21 0.792%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $900,369.11
(B) Net Available Distribution Amount $7,437,503.50
(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 $5,414,603.97
(ii) plus Principal Balance of Liquidated Home Equity Loans $168,256.05
(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 $5,582,860.02
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $5,582,860.02
(D) Formula Principal Distribution Amount required to maintain OC $5,582,860.02
(E) Class A-4 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $7,529,200.43
(B) Master Service Fee $80,007.18
(C) Available Funds $7,449,193.25
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $7,449,193.25
F. WATERFALL AMOUNTS REMAINING AVAIL REMAINING TOTAL REMAINING
FUNDS( interest AVAIL FUNDS AVAILABLE FUNDS
only) (principal only)
(A) Trustee Fee and Premium Amount: $1,866,333.23 $5,582,860.02 $7,449,193.25
(i) Trustee Fee $2,160.19 $1,864,173.04
(ii) Premium Amount $9,529.56 $1,854,643.48
(B) Accrued and Unpaid Master Servicing Fee: $0.00 $1,854,643.48
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $412,982.23
(b) Current Monthly Interest Amount Paid $412,982.23
(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 $900,369.11
(vi) Total Current Montly Interest Amount Paid $900,369.11 $954,274.37
(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 $954,274.37
(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 $5,582,860.02
(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 $5,582,860.02 $0.00
(F) Reimbursement Amount owed to Certificate Insurer: $0.00 $954,274.37
(G) Non Recoverable Advances not previously reimbursed to
Master Servicer: $0.00 $954,274.37
(H) Excess Spread: $954,274.37
(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 $954,274.37
(J) Other Amounts owed to Certificate Insurer: $0.00 $954,274.37
(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 $954,274.37
(vii) Total Remaining Prepayment Interest Shortfal $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00 $954,274.37
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00 $954,274.37
(iii) Reimbursement of Unreimbursed Monthly Advances $954,274.37 $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) 0.139%
(B) Is Rolling Twelve Month Loss Rate greater than 2.75%? No
(C) Cumulative Losses / Cumulative Loss Rate $273,185.52 0.097%
(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
(i) Class A-1 Certificate Balance $81,778,658.76 $76,195,798.74
(ii) Class A-1 Certificate Factor 0.4420468 0.4118692
(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 $172,334,658.76 $166,751,798.74
(x) Aggregate Certificate Factor 0.6254070 0.6051467
(B) Collateral Pool
(i) Pool Principal Balance $192,017,225.26 $186,434,365.24
(ii) Weighted Average Loan Rate 11.968% 11.974%
(iii) Weighted Average Original Term (months) 203.45 203.45
(iv) Weighted Average Remaining Term (months) 178.09 177.05
(v) Loan Count 4,807 4,687
(vi) 3 Largest Loan Pool Balances $955,678.46 $955,110.43
(C) Overcollateralization Amount $19,682,566.50 $19,682,566.50
I. MASTER SERVICER TERMINATION & OTHER TRIGGER TESTS
(A) Rolling Twelve Month Loss Rate 0.139%
(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) 3.181%
(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 $412,982.23 2.23233636
(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 $900,369.11 3.26746327
(B) Amount of distribution allocable to Formula Principal
Distributable Amount
(i) Class A-1 Certificate $5,582,860.02 30.17762173
(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 $5,582,860.02 20.26034643
(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 $5,995,842.25 32.40995809
(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 $6,483,229.13 23.52780970
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