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): July 25, 1999
(null)
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series SPMD 1999-A)
(Exact name of registrant as specified in charter)
Delaware 33-63714 95-4449516
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
155 N. Lake Avenue, Pasadena, CA 91110-7137
(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
(null)
Mortgage Pass-Through Certificates
Series SPMD 1999-A
On July 25, 1999, The Bank of New York, as Trustee for , Mortgage Pass-Through
Certificates Series SPMD 1999-A, made a monthly distribution to Certificate
holders of principal and/or interest pursuant to the Pooling and Servicing
Agreement, dated as of March 1, 1999, among as Depositor, Independent National
Mortgage Corporation, Seller and 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 , Mortgage Pass-Through Certificates
Series SPMD 1999-A relating to the distribution date of July
25, 1999 prepared by The Bank of New York, as Trustee under
the Pooling and Servicing Agreement dated as of March 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: July 25, 1999
(null)
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 July 25, 1999
Payment Date: 07/25/99
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series SPMD 1999-A
------------------------------------------------------------
<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 AF 136,048,713.54 6.540000% 2,005,644.10 741,465.49 2,747,109.59 0.00 0.00
AV 47,054,416.69 5.382500% 1,224,268.17 216,952.94 1,441,221.12 0.00 1,141.01
PF 75.00 6.000000% 0.00 0.38 0.38 0.00 0.00
PV 25.00 6.000000% 0.00 0.12 0.12 0.00 0.00
OC 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
Residual R 0.00 6.540000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 183,103,230.22 - 3,229,912.28 958,418.93 4,188,331.21 - 1,141.01
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior AF 134,043,069.43 0.00
AV 45,830,148.51 1,141.01
PF 75.00 0.00
PV 25.00 0.00
OC 0.00 0.00
Residual R 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 179,873,317.94 1,141.01
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 07/25/99
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series SPMD 1999-A
------------------------------------------------------------
<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 AF 136,048,713.54 6.540000% 456606AA0 14.111688 5.216942 943.125418
AV 47,054,416.69 5.382500% 456606AB8 23.812395 4.219802 891.410584
PF 75.00 6.000000% SPMD99APF 0.000000 5.000000 1,000.000000
PV 25.00 6.000000% SPMD99APV 0.000000 4.973841 1,000.000000
OC 0.00 0.000000% SPMD99AOC 0.000000 0.000000 0.000000
Residual R 0.00 6.540000% 456606AC6 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 183,103,230.22 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series SPMD 1999-A
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Stated principal balance 135,082,505.57 46,390,125.76 181,472,631.33
Loan count 1320 273 1593
Average loan rate 9.717459% 9.789793% 9.74
Prepayment amount 1,625,584.97 1,057,120.24 2,682,705.21
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 52,062.40 14,835.00 66,897.41
Monthly sub servicer fees 514.69 3,016.75 3,531.43
Monthly trustee fees 1,025.99 356.04 1,382.03
Aggregate advances N/A N/A N/A
Advances this periods 124,300.03 58,889.10 183,189.13
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00 0.00
Fraud 2,842,532.56 1,028,261.78 3,870,794.33
Special Hazard 0.00 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 183,103,230.22
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 93 13,210,831.97
60 to 89 days 33 4,849,749.05
90 or more 8 1,709,291.28
Foreclosure 10 1,098,026.30
Totals: 144 20,867,898.60
- --------------------------------------------------------------------------------
<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 4,188,331.21 4,188,331.21
Principal remittance amount 3,229,912.28 3,229,912.28
Interest remittance amount 958,418.93 958,418.93
