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): December 29, 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 13-401774
- - --------------- --------------------- ----------------
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
C/O THE BANK OF NEW YORK AS TRUSTEE 10286
101 BARCLAY STREET 12E
NEW YORK, NY
- - ---------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (818)-304-4428
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 December 27, 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 Certificateholders 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
December 27, 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: December 27, 1999
UP
By: /s/ Kelly A. Sheahan
------------------------------
Name: Kelly A. Sheahan
Assistant Treasurer
The Bank of New York,
as Trustee
<PAGE>
EXHIBIT INDEX
Exhibit
- - -------
99 Monthly Remittance Statement dated December 27, 1999
Payment Date: 12/27/99
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UPMFC TRUST 1999-1
Union Planters Mortgage Finance Corp. SERIES 1999-1
------------------------------------------------------------
<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 62,600,482.44 6.250000% 1,337,027.32 326,044.18 1,663,071.50 0.00 0.00
A2 15,100,186.00 6.250000% 0.00 78,646.80 78,646.80 0.00 0.00
A3 29,097,897.23 6.250000% 500,698.83 151,551.55 652,250.37 0.00 0.00
PO 24,713.41 0.000000% 226.28 0.00 226.28 0.00 0.00
X1 110,124,633.88 1.195587% 0.00 109,719.67 109,719.67 0.00 0.00
X2 110,124,633.88 1.195587% 0.00 109,719.67 109,719.67 0.00 0.00
B1 648,482.37 6.250000% 1,584.79 3,377.51 4,962.30 0.00 0.00
B2 324,241.18 6.250000% 792.39 1,688.76 2,481.15 0.00 0.00
B3 324,241.18 6.250000% 792.39 1,688.76 2,481.15 0.00 0.00
B4 648,482.37 6.250000% 1,584.79 3,377.51 4,962.30 0.00 0.00
B5 648,482.37 6.250000% 1,584.79 3,377.51 4,962.30 0.00 0.00
B6 1,296,962.79 6.250000% 3,169.73 6,755.01 9,924.74 0.00 0.00
Residual R 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
- - ----------------------------------------------------------------------------------------------------------------------------------
- - ----------------------------------------------------------------------------------------------------------------------------------
- - ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 110,714,171.34 - 1,847,461.31 795,946.93 2,643,408.24 - -
- - ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- - --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- - --------------------------------------------------------------------------------
Senior A1 61,263,455.12 0.00
A2 15,100,186.00 0.00
A3 28,597,198.41 0.00
PO 24,487.12 0.00
X1 108,282,570.72 0.00
X2 108,282,570.72 0.00
B1 646,897.58 0.00
B2 323,448.79 0.00
B3 323,448.79 0.00
B4 646,897.58 0.00
B5 646,897.58 0.00
B6 1,293,793.07 0.00
Residual R 0.00 0.00
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
Totals - - 108,866,710.03 -
- - --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 12/27/99
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UPMFC TRUST 1999-1
Union Planters Mortgage Finance Corp., SERIES 1999-1
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<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 62,600,482.44 6.250000% 908071AG8 17.062408 4.160797 781.810532
A2 15,100,186.00 6.250000% 908071AH6 0.000000 5.208333 1,000.000000
A3 29,097,897.23 6.250000% 908071AJ2 14.305681 4.330044 817.062812
PO 24,713.41 0.000000% 908071AT0 6.832602 0.000000 739.384826
X1 110,124,633.88 1.195587% 908071AR4 0.000000 0.833246 822.332237
X2 110,124,633.88 1.195587% 908071AS2 0.000000 0.833246 822.332237
B1 648,482.37 6.250000% 908071AK9 2.393316 5.100657 976.932849
B2 324,241.18 6.250000% 908071AL7 2.393316 5.100657 976.932849
B3 324,241.18 6.250000% 908071AM5 2.393316 5.100657 976.932849
B4 648,482.37 6.250000% 908071AN3 2.393316 5.100657 976.932849
B5 648,482.37 6.250000% 908071AP8 2.393316 5.100657 976.932849
B6 1,296,962.79 6.250000% 908071AQ6 2.393438 5.100658 976.932848
Residual R 0.00 6.250000% 908071AV7 0.000000 0.000000 0.000000
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
Totals - - 110,714,171.34 - - - - -
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Union Planters
Union Planters Mortgage Finance Corp. 1999-1, SERIES 1999-1
------------------------------------------------------------
- - --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- - --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 108,866,710.03 108,866,710.03
Aggregated loan count 2489 2489
Aggregated average loan rate 9.639047% 9.64
Aggregated prepayment amount 1,576,727.71 1,576,727.71
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FEES AND ADVANCES
- - --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 92,261.81 92,261.81
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,107.14 1,107.14
Aggregate advances N/A N/A
Advances this periods 0.00 0.00
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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% 110,714,171.34
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- - --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- - ------ ---------- ---------------------
30 to 59 days 518 22,970,875.81
60 to 89 days 76 3,374,868.01
90 or more 29 1,850,734.07
Foreclosure 121 5,334,468.79
Totals: 744 33,530,946.68
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<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 2,643,408.24 2,643,408.24
Principal remittance amount 1,847,461.31 1,847,461.31
Interest remittance amount 795,946.93 795,946.93