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): September 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 13-401774
-------- --------- ---------
(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, New York (Zip Code)
- - ------------------
(Address of principal executive offices)
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 September 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, 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. 1999-1 SERIES 1999-1 relating to the
distribution date of September 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: September 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
- - -------
99 Monthly Remittance Statement dated September 25, 1999
Payment Date: 09/25/99
------------------------------------------------------------
UPMFC Trusr 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 67,787,504.93 6.250000% 1,901,730.43 353,059.92 2,254,790.35 0.00 0.00
A2 15,100,186.00 6.250000% 0.00 78,646.80 78,646.80 0.00 0.00
A3 31,040,367.69 6.250000% 712,172.58 161,668.58 873,841.16 0.00 0.00
PO 28,655.51 0.000000% 234.69 0.00 234.69 0.00 0.00
X1 117,191,997.35 1.202508% 0.00 117,436.93 117,436.93 0.00 0.00
X2 117,191,997.35 1.202508% 0.00 117,436.93 117,436.93 0.00 0.00
B1 653,143.56 6.250000% 1,537.09 3,401.79 4,938.88 0.00 0.00
B2 326,571.78 6.250000% 768.55 1,700.89 2,469.44 0.00 0.00
B3 326,571.78 6.250000% 768.55 1,700.89 2,469.44 0.00 0.00
B4 653,143.56 6.250000% 1,537.09 3,401.79 4,938.88 0.00 0.00
B5 653,143.56 6.250000% 1,537.09 3,401.79 4,938.88 0.00 0.00
B6 1,306,285.01 6.250000% 3,072.84 6,803.57 9,876.41 1.35 0.00
Residual R 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
- - ----------------------------------------------------------------------------------------------------------------------------------
- - ----------------------------------------------------------------------------------------------------------------------------------
- - ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 117,875,573.37 - 2,623,358.91 848,659.89 3,472,018.80 1.35 -
- - ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- - --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- - --------------------------------------------------------------------------------
Senior A1 65,885,774.50 0.00
A2 15,100,186.00 0.00
A3 30,328,195.11 0.00
PO 28,420.82 0.00
X1 114,574,235.65 0.00
X2 114,574,235.65 0.00
B1 651,606.46 0.00
B2 325,803.23 0.00
B3 325,803.23 0.00
B4 651,606.46 0.00
B5 651,606.46 0.00
B6 1,303,210.82 0.00
Residual R 0.00 0.00
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
Totals - - 115,252,213.11 -
- - --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 09/25/99
------------------------------------------------------------
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 67,787,504.93 6.250000% 908071AG8 24.268838 4.505557 840.798031
A2 15,100,186.00 6.250000% 908071AH6 0.000000 5.208333 1,000.000000
A3 31,040,367.69 6.250000% 908071AJ2 20.347788 4.619102 866.519860
PO 28,655.51 0.000000% 908071AT0 7.086477 0.000000 858.162129
X1 117,191,997.35 1.202508% 908071AR4 0.000000 0.891853 870.113138
X2 117,191,997.35 1.202508% 908071AS2 0.000000 0.891853 870.113138
B1 653,143.56 6.250000% 908071AK9 2.321292 5.137320 984.044121
B2 326,571.78 6.250000% 908071AL7 2.321292 5.137320 984.044121
B3 326,571.78 6.250000% 908071AM5 2.321292 5.137320 984.044121
B4 653,143.56 6.250000% 908071AN3 2.321292 5.137320 984.044121
B5 653,143.56 6.250000% 908071AP8 2.321292 5.137320 984.044121
B6 1,306,285.01 6.250000% 908071AQ6 2.320275 5.137320 984.044121
Residual R 0.00 6.250000% 908071AV7 0.000000 0.000000 0.000000
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
Totals - - 117,875,573.37 - - - - -
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Union Planters
Union Planters Mortgage Finance Corp. 1999-1, SERIES 1999-1
------------------------------------------------------------
- - --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- - --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 115,252,213.11 115,252,213.11
Aggregated loan count 2624 2624
Aggregated average loan rate 9.651550% 9.65
Aggregated prepayment amount 2,345,788.05 2,345,788.05
- - --------------------------------------------------------------------------------
FEES AND ADVANCES
- - --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 98,229.64 98,229.64
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,178.76 1,178.76
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% 117,875,573.37
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- - --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- - ------ ---------- ---------------------
30 to 59 days 545 24,318,216.96
60 to 89 days 61 2,766,053.11
90 or more 35 1,498,278.77
Foreclosure 100 4,494,836.31
Totals: 741 33,077,385.15
- - --------------------------------------------------------------------------------
<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 3,472,018.80 3,472,018.80
Principal remittance amount 2,623,358.91 2,623,358.91
Interest remittance amount 848,659.89 848,659.89
