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): August 25, 1999
UPMFC Trust 1999-1
(Depositor)
(Issuer in respect of Union Planters Mortgage Finance Corp., 1999-1 SERIES
(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, New York 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 August 25, 1999, The Bank of New York, as Trustee for UPMFC Trust 1999-1,
Union Planters Mortgage Finance Corp. 1999-1 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., 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 August 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: August 25, 1999
UP
By: /s/ Anna H. Felt
------------------------------
Name: Anna H. Felt
Assistant Vice President
The Bank of New York,
as Trustee
<PAGE>
EXHIBIT INDEX
Exhibit Description
- - ----------- -----------
99 Monthly Remittance Statement dated August 25, 1999
Payment Date: 08/25/99
------------------------------------------------------------
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 69,253,589.59 6.250000% 1,466,084.66 360,695.78 1,826,780.44 0.00 0.00
A2 15,100,186.00 6.250000% 0.00 78,646.80 78,646.80 0.00 0.00
A3 31,589,396.77 6.250000% 549,029.07 164,528.11 713,557.18 0.00 0.00
PO 28,979.01 0.000000% 323.50 0.00 323.50 0.00 0.00
X1 119,208,923.11 1.202263% 0.00 119,433.71 119,433.71 0.00 0.00
X2 119,208,923.11 1.202263% 0.00 119,433.71 119,433.71 0.00 0.00
B1 654,677.81 6.250000% 1,534.25 3,409.78 4,944.03 0.00 0.00
B2 327,338.90 6.250000% 767.13 1,704.89 2,472.02 0.00 0.00
B3 327,338.90 6.250000% 767.13 1,704.89 2,472.02 0.00 0.00
B4 654,677.81 6.250000% 1,534.25 3,409.78 4,944.03 0.00 0.00
B5 654,677.81 6.250000% 1,534.25 3,409.78 4,944.03 0.00 0.00
B6 1,309,353.50 6.250000% 3,066.91 6,819.55 9,886.46 1.59 0.00
Residual R 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
- - ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 119,900,216.11 - 2,024,641.15 863,196.77 2,887,837.92 1.59 -
- - ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- - --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- - --------------------------------------------------------------------------------
Senior A1 67,787,504.93 0.00
A2 15,100,186.00 0.00
A3 31,040,367.69 0.00
PO 28,655.51 0.00
X1 117,191,997.35 0.00
X2 117,191,997.35 0.00
B1 653,143.56 0.00
B2 326,571.78 0.00
B3 326,571.78 0.00
B4 653,143.56 0.00
B5 653,143.56 0.00
B6 1,306,285.01 0.00
Residual R 0.00 0.00
- - --------------------------------------------------------------------------------
Totals - - 117,875,573.37 -
- - --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 08/25/99
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UPMFC Trust 1999-1
Union Planters Mortgage Finance Corp. 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 69,253,589.59 6.250000% 908071AG8 18.709366 4.603001 865.066869
A2 15,100,186.00 6.250000% 908071AH6 0.000000 5.208333 1,000.000000
A3 31,589,396.77 6.250000% 908071AJ2 15.686545 4.700803 886.867648
PO 28,979.01 0.000000% 908071AT0 9.767904 0.000000 865.248606
X1 119,208,923.11 1.202263% 908071AR4 0.000000 0.907018 889.993252
X2 119,208,923.11 1.202263% 908071AS2 0.000000 0.907018 889.993252
B1 654,677.81 6.250000% 908071AK9 2.316999 5.149388 986.365413
B2 327,338.90 6.250000% 908071AL7 2.316999 5.149388 986.365413
B3 327,338.90 6.250000% 908071AM5 2.316999 5.149388 986.365413
B4 654,677.81 6.250000% 908071AN3 2.316999 5.149388 986.365413
B5 654,677.81 6.250000% 908071AP8 2.316999 5.149388 986.365413
B6 1,309,353.50 6.250000% 908071AQ6 2.315797 5.149388 986.365413
Residual R 0.00 6.250000% 908071AV7 0.000000 0.000000 0.000000
- - ------------------------------------------------------------------------------------------------------------------------
Totals - - 119,900,216.11 - - - - -
- - ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
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UPMFC 1999-1
Union Planters Mortgage Finance Corp. SERIES 1999-1
------------------------------------------------------------
- - --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- - --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 117,875,573.37 117,875,573.37
Aggregated loan count 2663 2663
Aggregated average loan rate 9.651151% 9.65
Aggregated prepayment amount 1,743,489.46 1,743,489.46
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FEES AND ADVANCES
- - --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 99,916.85 99,916.85
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,199.00 1,199.00
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% 119,900,216.11
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- - --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- - ------ ---------- ---------------------
30 to 59 days 555 24,989,621.54
60 to 89 days 74 3,300,516.05
90 or more 32 1,414,506.88
Foreclosure 117 5,304,400.80
Totals: 778 35,009,045.27
- - --------------------------------------------------------------------------------
<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 2,887,837.92 2,887,837.92
Principal remittance amount 2,024,641.15 2,024,641.15
Interest remittance amount 863,196.77 863,196.77
