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): November 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, NY 10286
- - ---------------------------------------- ----------
(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 November 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., 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
November 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: November 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 November 25, 1999
Payment Date: 11/25/99
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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
- - ----------------------------------------------------------------------------------------------------------------------------------
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 64,385,931.13 6.250000% 1,785,448.68 335,343.39 2,120,792.08 0.00 0.00
A2 15,100,186.00 6.250000% 0.00 78,646.80 78,646.80 0.00 0.00
A3 29,766,523.86 6.250000% 668,626.62 155,033.98 823,660.60 0.00 0.00
PO 27,990.07 0.000000% 3,276.66 0.00 3,276.66 0.00 0.00
X1 112,513,230.84 1.198778% 0.00 112,398.68 112,398.68 0.00 0.00
X2 112,513,230.84 1.198778% 0.00 112,398.68 112,398.68 0.00 0.00
B1 650,050.64 6.250000% 1,568.27 3,385.68 4,953.95 0.00 0.00
B2 325,025.32 6.250000% 784.14 1,692.84 2,476.98 0.00 0.00
B3 325,025.32 6.250000% 784.14 1,692.84 2,476.98 0.00 0.00
B4 650,050.64 6.250000% 1,568.27 3,385.68 4,953.95 0.00 0.00
B5 650,050.64 6.250000% 1,568.27 3,385.68 4,953.95 0.00 0.00
B6 1,300,099.17 6.250000% 3,136.54 6,771.35 9,907.89 0.00 0.00
Residual R 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
- - ----------------------------------------------------------------------------------------------------------------------------------
- - ----------------------------------------------------------------------------------------------------------------------------------
- - ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 113,180,932.77 - 2,466,761.59 814,135.61 3,280,897.20 - -
- - ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- - --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- - --------------------------------------------------------------------------------
Senior A1 62,600,482.44 0.00
A2 15,100,186.00 0.00
A3 29,097,897.23 0.00
PO 24,713.41 0.00
X1 110,124,633.88 0.00
X2 110,124,633.88 0.00
B1 648,482.37 0.00
B2 324,241.18 0.00
B3 324,241.18 0.00
B4 648,482.37 0.00
B5 648,482.37 0.00
B6 1,296,962.79 0.00
Residual R 0.00 0.00
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
Totals - - 110,714,171.34 -
- - --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/99
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Union Planters
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 64,385,931.13 6.250000% 908071AG8 22.784914 4.279468 798.872940
A2 15,100,186.00 6.250000% 908071AH6 0.000000 5.208333 1,000.000000
A3 29,766,523.86 6.250000% 908071AJ2 19.103618 4.429542 831.368492
PO 27,990.07 0.000000% 908071AT0 98.938268 0.000000 746.217427
X1 112,513,230.84 1.198778% 908071AR4 0.000000 0.853591 836.321449
X2 112,513,230.84 1.198778% 908071AS2 0.000000 0.853591 836.321449
B1 650,050.64 6.250000% 908071AK9 2.368375 5.112992 979.326165
B2 325,025.32 6.250000% 908071AL7 2.368375 5.112992 979.326165
B3 325,025.32 6.250000% 908071AM5 2.368375 5.112992 979.326165
B4 650,050.64 6.250000% 908071AN3 2.368375 5.112992 979.326165
B5 650,050.64 6.250000% 908071AP8 2.368375 5.112992 979.326165
B6 1,300,099.17 6.250000% 908071AQ6 2.368376 5.112993 979.326282
Residual R 0.00 6.250000% 908071AV7 0.000000 0.000000 0.000000
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
Totals - - 113,180,932.77 - - - - -
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
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Union Planters
Union Planters Mortgage Finance Corp. , SERIES 1999-1
------------------------------------------------------------
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COLLATERAL INFORMATION
- - --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 110,714,171.18 110,714,171.18
Aggregated loan count 2533 2533
Aggregated average loan rate 9.643867% 9.64
Aggregated prepayment amount 2,193,551.11 2,193,551.11
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FEES AND ADVANCES
- - --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 94,317.44 94,317.44
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,131.81 1,131.81
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% 113,180,932.77
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- - --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- - ------ ---------- ---------------------
30 to 59 days 556 24,689,260.16
60 to 89 days 75 3,321,425.13
90 or more 55 2,435,711.76
Foreclosure 131 5,867,851.07
Totals: 817 36,314,248.12
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<PAGE>
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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 3,280,897.20 3,280,897.20
Principal remittance amount 2,466,761.59 2,466,761.59
Interest remittance amount 814,135.61 814,135.61
