SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
[X] Annual report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the fiscal year ended December 31, 1999
[ ] Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the transition period from to
Commission File Number 333-39127-07
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(Exact name of registrant as specified in its charter)
Delaware 13-5674085
(State or other jurisdiction of I.R.S. Employer
incorporation or organization) Identification No.)
250 Vesey Street, World Financial Center,
North Tower, 17th Floor
New York, New York 10281-1315
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code : (212) 449-1000
C-Bass Mortgage Loan Asset-Backed Certificates, Series 1999-CB1
(Title of each class of securities covered by this Form)
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of Form 10-K or any amendment to
Form 10-K. [X]
Documents incorporated by reference: None
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MERRILL LYNCH MORTGAGE INVESTORS, INC.
C-Bass Mortgage Loan Asset-Backed Certificates, Series 1999-CB1
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PART IV
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a) The following documents are filed as part of this report:
(1) Financial Statements:
Omitted.
(2) Financial Statement Schedules:
Omitted.
(3) Exhibits:
Annual Servicer Statement of Compliance, filed as Exhibit 99.1 hereto.
Annual Statement of Independent Accountants Report for the Servicer,
filed as Exhibit 99.2 hereto.
(b) Reports on Form 8-K: The following Current Reports on Form 8-K were
filed by the Registrant during the last quarter of 1999.
Current Reports on Form 8-K, dated October 25, 1999, November 26,
1999, and December 27, 1999, were filed for the purpose of filing the
Monthly Statement sent to the Holders of the Offered Certificates for
payments made on the same dates. The items reported in such Current Report
were Item 5 (Other Events).
(c) Exhibits to this report are listed in Item (14)(a)(3) above.
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SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
THE CHASE MANHATTAN BANK,
not in its individual capacity but solely
as Trustee under the Agreement referred
to herein
Date: May 15, 2000 By: /s/Kimberly K. Costa
-----------------------------
Kimberly K. Costa
Vice President
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EXHIBIT INDEX
Exhibit Description
99.1 Servicer's Annual Statement of Compliance
99.2 Servicer's Annual Independent Accountant's Report
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EXHIBIT 99.1 - Servicer's Annual Statement of Compliance
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Litton Loan Servicing, LP
A Subsidiary of Enchance Financial Services Group Inc.
5373 West Alabama, Suite 600 Telephone 713 960 9676
Houston, Tx 77056 Fax 713 966 8856
March 20, 2000
Capital Markets; C-BASS 1999-CB1
The Chase Manhattan Bank
450 West 33rd Street, 14th Floor
New York, New York 10001
Subject: C-BASS Mortgage Loan Asset Backed Certificates, Series 1999-CB1
To Whom It May Concern:
The undersigned officer of Litton Loan Servicing LP (successor in interest
to Litton Loan Servicing, Inc.) certifies that a review of the servicing
activity for the year ended December 31, 1999 has been completed and that there
were no defaults or exceptions to the requirements of the subject agreement
between the above-listed parties. Litton Loan Servicing LP hereby certifies
that:
1. All ad valorem taxes have been paid when due and without
penalty to the Trust.
2. All assessments and ground rents of whatsoever kind or nature have been paid
so as to prevent their taking priority to the purchase money lien or lien
to which the trust is entitled.
3. All casualty insurance has been paid without lapse in coverage and in an
amount sufficient to prevent the application of a co-insurance clause.
4. In compliance with the terms of the agreement, flood insurance as required
by the National Flood Insurance Act of 1994, P.L. 103-325 511, if any, has
been maintained without lapse.
5. Errors nd Omissions Insurance is in forced in amounts sufficient to meet the
requirements of Federal National Mortgage Association, Federal Home Loan
Mortgage Corporation and the terms of the subject agreement.
6. Litton Loan Servicing LP has timely filed the required IRS informational
returns including the forms 1098, 1099(A), and those required by code
sections 6050(h)(j)(p) for the year ended December 31, 1999.
7. Litton Loan Servicing LP has not committed any act or omitted to act in
any manner that would cause the trust to lose the REMIC tax treatment or be
taxed on prohibited transaction.
8. All other terms and requirements of the Servicing Agreement between the
above parties have been complied with except as noted on the
attachment to this letter, if any.
Sincerely,
Litton Loan Servicing LP
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by: /s/ Janice McClure
Senior Vice President
<PAGE>
EXHIBIT 99.2 - Servicer's Annual Independent Accountant's Report
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Deloitte & Touche LLP Telephone (713) 982-2000
Suite 2300 Facsimile: (713) 982-2001
333 Clay Street
Houston, Texas 77002-4196
INDEPENDENT AUDITORS' REPORT
To the Board of Directors of Liton Loan Servicing LP:
We have examined management's assertion about Litton Loan Servicing LP's
(the "Company") compliance with the minimum servicing standards identified in
the Mortgage Bankers Association of America's Uniform Single Attestation Program
for Mortgage Bankers as of and for the year ended December 31, 1999, included in
the accompanying management assertion. Management is responsible for the
Company's compliance with those minimum servicing standards. Our responsibility
is to express an opinion on management's assertion about the Company's
compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with minimum
servicing standards and performing such other procedures as we considered
necessary in the circumstances. We believe that our examination provides a
reasonable basis for our opinion. Our examination does not provide a legal
determination of the Company's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Company complied with the
aforementioned minimum servicing standards as of and for the year ended December
31, 1999 is fairly stated, in all material respects.
Deloitte & Touche LLP
February 28, 2000
