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): October 25, 1999
UPMFC TRUST 1999-1
(Depositor)
(Issuer in respect of Union Planters Mortgage Finance Corp. SERIES 1999-1
(Exact name of registrant as specified in charter)
NEW YORK 000-23849 13-4017742
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
C/O THE BANK OF NEW YORK, AS TRUSTEE
101 BARCLAY STREET--12E
NEW YORK, NY 10286
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (212)-815-2297
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
Item 5. Other Events
UP
Union Planters Mortgage Finance Corp. 1999-1
SERIES 1999-1
On October 25, 1999, The Bank of New York, as Trustee for UPMFC TRUST 1999-1,
Union Planters Mortgage Finance Corp. SERIES 1999-1 , made a monthly
distribution to Certificate holders of principal and/or interest pursuant to the
Pooling and Servicing Agreement, dated as of February 1, 1999, among Union
Planters Mortgage Finance Corp. as Depositor, Union Planters N.A. as Master
Servicer and The Bank of New York, as Trustee.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99 Report to Holders of UPMFC Trust 1999-1, Union Planters
Mortgage Finance Corp. SERIES 1999-1 relating to the
distribution date of October 25, 1999 prepared by The Bank
of New York, as Trustee under the Pooling and Servicing
Agreement dated as of February 1, 1999.
<PAGE>
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.
Dated: October 25, 1999
UP
By: /s/ David Gresser
------------------------------
Name: David Gresser
Assistant Treasurer
The Bank of New York,
as Trustee
<PAGE>
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated October 25, 1999
Payment Date: 10/25/99
------------------------------------------------------------
UPMFC Trust 1999-1
Union Planters Mortgage Finance Corp. SERIES 1999-1
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<TABLE>
<CAPTION>
Class Information Current Payment Information
- - ----------------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru Principal Interest Total Principal Interest
Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
- - ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Senior A1 65,885,774.50 6.250000% 1,499,843.37 343,155.08 1,842,998.45 0.00 0.00
A2 15,100,186.00 6.250000% 0.00 78,646.80 78,646.80 0.00 0.00
A3 30,328,195.11 6.250000% 561,671.26 157,959.35 719,630.61 0.00 0.00
PO 28,420.82 0.000000% 430.75 0.00 430.75 0.00 0.00
X1 114,574,235.65 1.200214% 0.00 114,594.71 114,594.71 0.00 0.00
X2 114,574,235.65 1.200214% 0.00 114,594.71 114,594.71 0.00 0.00
B1 651,606.46 6.250000% 1,555.83 3,393.78 4,949.61 0.00 0.00
B2 325,803.23 6.250000% 777.91 1,696.89 2,474.81 0.00 0.00
B3 325,803.23 6.250000% 777.91 1,696.89 2,474.81 0.00 0.00
B4 651,606.46 6.250000% 1,555.83 3,393.78 4,949.61 0.00 0.00
B5 651,606.46 6.250000% 1,555.83 3,393.78 4,949.61 0.00 0.00
B6 1,303,210.82 6.250000% 3,111.65 6,787.56 9,899.21 0.00 0.00
Residual R 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
- - ----------------------------------------------------------------------------------------------------------------------------------
- - ----------------------------------------------------------------------------------------------------------------------------------
- - ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 115,252,213.11 - 2,071,280.34 829,313.33 2,900,593.67 - -
- - ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- - --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- - --------------------------------------------------------------------------------
Senior A1 64,385,931.13 0.00
A2 15,100,186.00 0.00
A3 29,766,523.86 0.00
PO 27,990.07 0.00
X1 112,513,230.84 0.00
X2 112,513,230.84 0.00
B1 650,050.64 0.00
B2 325,025.32 0.00
B3 325,025.32 0.00
B4 650,050.64 0.00
B5 650,050.64 0.00
B6 1,300,099.17 0.00
Residual R 0.00 0.00
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
Totals - - 113,180,932.77 -
- - --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 10/25/99
------------------------------------------------------------
Union Planters
Union Planters Mortgage Finance Corp. 1999-1, SERIES 1999-1
------------------------------------------------------------
<TABLE>
<CAPTION>
Class Information Current Payment Information
Factors per $1,000
- - ------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru CUSIP Principal Interest Ending Cert./
Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal.
- - ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
- - ------------------------------------------------------------------------------------------------------------------------
Senior A1 65,885,774.50 6.250000% 908071AG8 19.140177 4.379156 821.657854
A2 15,100,186.00 6.250000% 908071AH6 0.000000 5.208333 1,000.000000
A3 30,328,195.11 6.250000% 908071AJ2 16.047750 4.513124 850.472110
PO 28,420.82 0.000000% 908071AT0 13.006434 0.000000 845.155695
X1 114,574,235.65 1.200214% 908071AR4 0.000000 0.870269 854.461213
X2 114,574,235.65 1.200214% 908071AS2 0.000000 0.870269 854.461213
B1 651,606.46 6.250000% 908071AK9 2.349581 5.125230 981.694540
B2 325,803.23 6.250000% 908071AL7 2.349581 5.125230 981.694540
B3 325,803.23 6.250000% 908071AM5 2.349581 5.125230 981.694540
B4 651,606.46 6.250000% 908071AN3 2.349581 5.125230 981.694540
B5 651,606.46 6.250000% 908071AP8 2.349581 5.125230 981.694540
B6 1,303,210.82 6.250000% 908071AQ6 2.349582 5.125230 981.694540
Residual R 0.00 6.250000% 908071AV7 0.000000 0.000000 0.000000
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
Totals - - 115,252,213.11 - - - - -
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Union Planters
Union Planters Mortgage Finance Corp. 1999-1, SERIES 1999-1
------------------------------------------------------------
- - --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- - --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 113,180,932.77 113,180,932.77
Aggregated loan count 2577 2577
Aggregated average loan rate 9.646767% 9.65
Aggregated prepayment amount 1,795,935.48 1,795,935.48
- - --------------------------------------------------------------------------------
FEES AND ADVANCES
- - --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 96,043.51 96,043.51
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,152.52 1,152.52
Aggregate advances N/A N/A
Advances this periods 0.00 0.00
- - --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- - --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00
Coverage Amounts Total
- - ---------------- -----
Bankruptcy 0.00 0.00
Fraud 0.00 0.00
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 115,252,213.11
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- - --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- - ------ ---------- ---------------------
30 to 59 days 542 24,220,719.60
60 to 89 days 89 3,961,332.65
90 or more 48 2,037,256.79
Foreclosure 120 5,319,503.84
Totals: 799 35,538,812.88
- - --------------------------------------------------------------------------------
<PAGE>
- - --------------------------------------------------------------------------------
REO INFORMATION
- - --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 0.00
Current Total Outstanding Number of Loans: 0
<PAGE>
- - --------------------------------------------------------------------------------
OTHER INFORMATION
- - --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 2,900,593.67 2,900,593.67
Principal remittance amount 2,071,280.34 2,071,280.34
Interest remittance amount 829,313.33 829,313.33
