SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
Date of Report (date of earliest event reported):
April 15, 1999
COUNTRYWIDE HOME EQUITY LOAN TRUST 1999-A
(Exact name of registrant as specified in its charter)
CALIFORNIA 333-11095 36-7270694
(State or Other Jurisdiction (Commission File (I.R.S. Employer of
Incorporation) Number) Identification No.)
c/o The First National Bank of Chicago.
Corporate Trust Services Division - 9th floor 1 N. State Street, Chicago IL
60670-0126 (Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code: 312/407-1902
Item 5. Other Events
On behalf of Countrywide Home Equity Loan Trust 1999-A, a Trust created
pursuant to the Pooling Agreement, dated February 22, 1999, by The First
National Bank of Chicago, as trustee for the Trust, the Trustee has caused to
be filed with the Commission, the Monthly Report dated April 15, 1999.
The Monthly Report is filed pursuant to and in accordance with (1)
numerous no-action letters (2) current Commission policy in the area.
The filing of the Monthly Report will occur subsequent to each monthly
distribution to the holders of the Trust's Investor Certificates.
A. Monthly Report Information: Aggregate distribution information
for the current distribution date April 15, 1999.
Principal Interest Ending Balance
Cede & Co.$ 1,409,799.42 $ 1,323,711.63 $183,590,200.58
B. No delinquency in payment under the Transferor Certificate,
or the Financial Guaranty Insurance Policy has occurred.
C. Have any deficiencies occurred? NO. Date: Amount:
D. Were any amounts paid or are any amounts payable under the
Financial Guaranty Insurance Policy? NO Amount:
E. Are there any developments with respect to the Ambac Certificate
Guaranty Insurance Policy? NONE.
F. Item 1: Legal Proceedings: NONE
G. Item 2: Changes in Securities: NONE
H. Item 4: Submission of Matters to a Vote of Security
Holders: NONE
I. Item 5: Other Information - Items 1, 2, 4, 5 if applicable:
NOT APPLICABLE
Item 7. Monthly Statements and Exhibits
Exhibit No. 1. Monthly Statement to Certificateholders dated
April 15, 1999
Statement to Certificateholders (Page 1 of 2)
Distribution Date:
4/15/99
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY
(per $1000 original principal amount)
A. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS
Investor Certificate Interest Distributed (Section 5.03 (iii))
7.155198
Investor Certificate Interest Shortfall Distributed (Section 5.03 (iv))
0.000000
Remaining Unpaid Investor Certificate Interest Shortfall (Section 5.03 (v))
0.000000
Managed Amortization Period ? (Yes=1; No=0) 1
Investors Certificate Principal Distributed (Section 5.03 (vi))
7.620537
Principal Distribution Amount 7.620537
Maximum Principal Payment 62.264755
Alternative Principal Payment 7.620537
Principal Collections less Additional Balances 7.620537
Investor Loss Amount Distributed to Investors 0.000000
Accelerated Principal Distribution Amount 0.000000
Credit Enhancement Draw Amount (Section 5.03 (xii))
"1,313,801.93 "
Total Amount Distributed to Certificateholders (P & I) (Section 5.03 (ii))
14.775735
B. INVESTOR CERTIFICATE PRINCIPAL BALANCE
Beginning Investor Certificate Balance
"185,000,000.00 "
Ending Investor Certificate Balance (Section 5.03 (x))
"183,590,200.58 "
Beginning Invested Amount
"185,000,000.00 "
Ending Invested Amount (Section 5.03 (x))
"183,590,200.58 "
Investor Certificateholder Floating Allocation Percentage (Section 5.03 (i))
98.5000%
Pool Factor (Section 5.03 (x)) 0.9923795
Liquidation Loss Amount for Liquidated Loans (Section 5.03 (vii))
0.00
Unreimbursed Liquidation Loss Amount (Section 5.03 (viii))
0.00
C. POOL INFORMATION
Beginning Pool Balance (Section 5.03 (xi))
"187,817,258.88 "
Ending Pool Balance (Section 5.03 (xi))
"186,407,459.46 "
Servicer Removals form the Trust (Section 2.06)
0.00
Servicing Fee (Section 5.03 (ix))
"78,257.19 "
D. INVESTOR CERTIFICATE RATE
Investor Certificate Rate (Section 5.03 (xvi)) 5.256880%
LIBOR Rate 4.936880%
Maximum Rate 5.991233%
E. DELINQUENCY & REO STATUS
Delinquent 30-59 days (Section 5.03 (xiii))
No. of Accounts 13
Trust Balances "400,639.00 "
Delinquent 60-89 days (Section 5.03 (xiii))
No. of Accounts 1
Trust Balances 250.00
Delinquent 90+ days (Section 5.03 (xiii))
No. of Accounts 0
Trust Balances 0.00
REO (Section 5.03 (xiv))
No. of Accounts 0
Trust Balances 0
F. INSURANCE COVENANTS
Subordinated Transferor Collections (Section 5.03 (xviii))
"20,446.08 "
Overcollateralization Step-Down (Section 5.03 (xix))
0.00
Available Transferor Subordinated Amount (Section 5.03 (xx))
"2,817,258.88 "
Overcollateralization Amount (Section 5.03 (xxi))
0.003199995
Statement to Certificateholders (Page 2 of 2)
Distribution Date: 4/15/99
"IN WITNESS WHEREOF, the undersigned has"
caused this certificate to be duly executed
"this 9th day of April, 1999"
Countrywide Home Loans Formerly Known as Countrywide Funding
Corporation
as Servicer
_______________________________________
Lupe Montero
Vice-President
SIGNATURES
Pursuant to the requirements 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.
COUNTRYWIDE HOME EQUITY LOAN TRUST 1999-A
By _______________________________________
Name:
Barbara G. Grosse Title: Vice President
Dated: April 30, 1999
