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Previous: BANC ONE FINANCIAL SERVICES HOME EQUITY LOAN TRUST 1999-1, 8-K, 2001-01-08 |
Next: REMOTE UTILITIES NETWORK INC, SB-2/A, 2001-01-08 |
Banc One Financial Services Home Equity Loan Trust 1999-1
Monthly Servicing Report
For the Collection & Interest Period Ending 11/30/2000
For Distribution on 12/26/2000
<TABLE>
<S> <C>
A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $1,492,464.30
(ii) Principal Collections $342,898.70
(iii) Principal Curtailments $96,114.71
(iv) Principal Prepayments in Full $3,111,810.43
(v) Count Principal Prepayments in Full 79
(B) Net Liquidation Proceeds net of related Foreclosure Profits $151,663.23
(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 $340,224.32
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $5,535,175.69
(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 Count Amount Percentage
(i) 30-59 Days Delinquent (Incl. REO, FC and 186 $7,140,782.54 4.713%
(ii) 60-89 Days Delinquent (Incl. REO, FC and 57 $1,839,149.30 1.214%
(iii) 90 Days or More Delinquent (Incl. REO, FC and 219 $9,759,413.67 6.442%
(iv) Loans in REO status at end of Collection Period 21 $1,492,175.63 0.985%
(v) Loans in Foreclosure 74 $4,230,232.12 2.792%
(vi) Loans in Bankruptcy or Insolvency Proceedings 166 $6,522,249.02 4.305%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 276 $11,598,562.97 7.655%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 219 $9,759,413.67 6.442%
(B) Liquidation Losses / Monthly Loss Rate (Annualized) $528,503.61 4.072%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $717,160.55
(B) Net Available Distribution Amount $5,448,758.96
(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 $3,550,823.84
(ii) plus Principal Balance of Liquidated Home Equity Loans $680,166.84
(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 $4,230,990.68
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $4,230,990.68
(D) Formula Principal Distribution Amount required to maintain OC $4,230,990.68
(E) Class A-4 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $5,535,175.69
(B) Master Service Fee $64,890.96
(C) Available Funds $5,470,284.73
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $5,470,284.73
F. WATERFALL AMOUNTS
(A) Trustee Fee and Premium Amount:
(i) Trustee Fee $1,752.06
(ii) Premium Amount $19,773.71
(B) Accrued and Unpaid Master Servicing Fee: $0.00
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $229,773.67
(b) Current Monthly Interest Amount Paid $229,773.67
(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 $717,160.55
(vi) Total Current Montly Interest Amount Paid $717,160.55
(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
(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 $4,230,990.68
(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 $4,230,990.68
(F) Reimbursement Amount owed to Certificate Insurer: $0.00
(G) Non Recoverable Advances not previously reimbursed to Master Servicer: $0.00
(H) Excess Spread: $500,607.73
(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
(J) Other Amounts owed to Certificate Insurer: $0.00
(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
(vii) Total Remaining Prepayment Interest Shortfall $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00
(iii) Reimbursement of Unreimbursed Monthly Advances $340,224.32
(M) Other termination/transfer amounts due to Trustee $0.00
(N) Amount released to Class R Certificateholder $160,383.41
G. CALCULATION OF OC TARGET AMOUNT
(A) Twelve Month Average Monthly Loss Rate 1.532%
(B) Is Rolling Twelve Month Loss Rate greater than 2.75%? No
(C) Cumulative Losses / Cumulative Loss Rate $2,568,182.93 0.913%
(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 End of Collection
Period Period
(A) Certificate Balances and Factors
(i) Class A-1 Certificate Balance $45,499,736.36 $41,268,745.68
(ii) Class A-1 Certificate Factor 0.2459445 0.2230743
(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 $136,055,736.36 $131,824,745.68
(x) Aggregate Certificate Factor 0.4937499 0.4783955
(B) Collateral Pool
(i) Pool Principal Balance $155,738,302.86 $151,507,312.18
(ii) Weighted Average Loan Rate 11.935% 11.931%
(iii) Weighted Average Original Term (months) 203.45 203.45
(iv) Weighted Average Remaining Term (months) 171.66 171.03
(v) Loan Count 3,934 3,833
(vi) 3 Largest Loan Pool Balances $951,207.51 $951,207.51
(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 1.532%
(B) Is Rolling Twelve Month Loss Rate greater than 4.00%? No
(C) Six Month Average of Pool Delinquency Rate 6.845%
(D) Is Rolling Six Month Delinquency Rate greater than 5.00%? Yes
(E) Has Deposit Event Occurred? No
J. SUMMARY STATEMENT OF AMOUNTS DUE TO CERTIFICATEHOLDERS
Per $1000 of Original
Certificate Principal
(A) Amount of distribution allocable to Current Monthly Interest & Unpaid Dollars
(i) Class A-1 Certificate $229,773.67 1.24201983
(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 $717,160.55 2.60259458
(B) Amount of distribution allocable to Formula Principal Distributable Amount
(i) Class A-1 Certificate $4,230,990.68 22.87021989
(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 $4,230,990.68 15.35437690
(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 $4,460,764.35 24.11223972
(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 $4,948,151.23 17.95697148
</TABLE>
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