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): March 25, 1999
UPMFC Trust 1991-1
(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, 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 March 25, 1999, The Bank of New York, as Trustee for UPMFC Trust 1991-1,
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 1991-1, Union
Planters Mortgage Finance Corp. Series 1999-1 relating to
the distribution date of March 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: March 25, 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 March 25, 1999
Payment Date: 03/25/99
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Union Planters
Union Planters Mortgage Finance Corp. 1999-1, 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 78,361,000.00 6.250000% 1,642,244.71 408,130.21 2,050,374.91 0.00 0.00
A2 15,100,186.00 6.250000% 0.00 78,646.80 78,646.80 0.00 0.00
A3 35,000,000.00 6.250000% 614,998.65 182,291.67 797,290.32 0.00 0.00
PO 33,118.00 0.000000% 2,768.66 0.00 2,768.66 0.00 0.00
X1 132,467,434.00 1.204873% 0.00 133,005.39 133,005.39 0.00 0.00
X2 132,467,434.00 1.204873% 0.00 133,005.39 133,005.39 0.00 0.00
B1 662,172.00 6.250000% 1,482.53 3,448.81 4,931.34 0.00 0.00
B2 331,086.00 6.250000% 741.26 1,724.41 2,465.67 0.00 0.00
B3 331,086.00 6.250000% 741.26 1,724.41 2,465.67 0.00 0.00
B4 662,172.00 6.250000% 1,482.53 3,448.81 4,931.34 0.00 0.00
B5 662,172.00 6.250000% 1,482.53 3,448.81 4,931.34 0.00 0.00
B6 1,324,342.10 6.250000% 2,965.05 6,897.62 9,862.67 0.08 0.00
Residual R 100.00 6.250000% 100.00 263.66 363.66 0.00 0.00
- - ----------------------------------------------------------------------------------------------------------------------------------
- - ----------------------------------------------------------------------------------------------------------------------------------
- - ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 132,467,434.10 - 2,269,007.19 956,035.98 3,225,043.17 0.08 -
- - ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- - --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- - --------------------------------------------------------------------------------
Senior A1 76,718,755.29 0.00
A2 15,100,186.00 0.00
A3 34,385,001.35 0.00
PO 30,349.34 0.00
X1 130,201,195.47 0.00
X2 130,201,195.47 0.00
B1 660,689.47 0.00
B2 330,344.74 0.00
B3 330,344.74 0.00
B4 660,689.47 0.00
B5 660,689.47 0.00
B6 1,321,376.97 0.00
Residual R 0.00 0.00
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
Totals - - 130,198,426.83 -
- - --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 03/25/99
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Union Planters
Union Planters Mortgage Finance Corp. 1999-1, 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 78,361,000.00 6.250000% 908071AG8 20.957424 5.208333 979.042576
A2 15,100,186.00 6.250000% 908071AH6 0.000000 5.208333 1,000.000000
A3 35,000,000.00 6.250000% 908071AJ2 17.571390 5.208333 982.428610
PO 33,118.00 0.000000% 908071AT0 83.599983 0.000000 916.400017
X1 132,467,434.00 1.204873% 908071AR4 0.000000 1.004061 982.892107
X2 132,467,434.00 1.204873% 908071AS2 0.000000 1.004061 982.892107
B1 662,172.00 6.250000% 908071AK9 2.238888 5.208333 997.761112
B2 331,086.00 6.250000% 908071AL7 2.238888 5.208333 997.761112
B3 331,086.00 6.250000% 908071AM5 2.238888 5.208333 997.761112
B4 662,172.00 6.250000% 908071AN3 2.238888 5.208333 997.761112
B5 662,172.00 6.250000% 908071AP8 2.238888 5.208333 997.761112
B6 1,324,342.10 6.250000% 908071AQ6 2.238890 5.208337 997.761805
Residual R 100.00 6.250000% 908071AV7 1,000.000000 2,636.626167 0.000000
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
Totals - - 132,467,434.10 - - - - -
- - ------------------------------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
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Union Planters
Union Planters Mortgage Finance Corp. 1999-1, SERIES 1999-1
------------------------------------------------------------
- - --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- - --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 130,198,426.83 130,198,426.83
Aggregated loan count 2883 2883
Aggregated average loan rate 9.672349% 9.67
Aggregated prepayment amount 1,972,261.50 1,972,261.50
- - --------------------------------------------------------------------------------
FEES AND ADVANCES
- - --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 110,389.53 110,389.53
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,324.67 1,324.67
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% 132,467,434.10
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- - --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- - ------ ---------- ---------------------
30 to 59 days 760 34,762,979.96
60 to 89 days 97 4,426,746.51
90 or more 8 390,595.28
Foreclosure 44 1,952,976.40
Totals: 909 41,533,298.15
- - --------------------------------------------------------------------------------
<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 3,225,043.17 3,225,043.17
Principal remittance amount 2,269,007.19 2,269,007.19
Interest remittance amount 956,035.98 956,035.98
