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
(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 November 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
November 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: November 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 November 25, 1999
Payment Date: 11/25/99
------------------------------------------------------------
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 123,564,291.58 6.540000% 2,201,140.97 673,425.39 2,874,566.36 0.00 0.00
AV 41,451,828.57 5.698750% 2,232,164.80 201,230.21 2,433,395.01 0.00 8,746.33
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 0.01
OC 0.00 0.000000% 0.00 4,328.46 4,328.46 0.00 0.00
Residual R 0.00 6.540000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 165,016,220.15 - 4,433,305.78 878,984.55 5,312,290.33 - 8,746.34
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior AF 121,363,150.61 0.00
AV 39,219,663.77 8,746.33
PF 75.00 0.00
PV 25.00 0.01
OC 0.00 0.00
Residual R 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 160,582,914.38 8,746.34
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/99
------------------------------------------------------------
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 123,564,291.58 6.540000% 456606AA0 15.487201 4.738213 853.909662
AV 41,451,828.57 5.698750% 456606AB8 43.416297 3.913990 762.834608
PF 75.00 6.000000% SPMD99APF 0.000000 5.000000 1,000.000000
PV 25.00 6.000000% SPMD99APV 0.000000 4.791731 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 - - 165,016,220.15 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series SPMD 1999-A
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
stated principal balance 123,511,073.36 40,286,658.49 163,797,731.85
loan count 1214 251 1465
average loan rate 9.686577% 9.773450% 9.71
prepayment amount 1,843,910.30 2,102,629.23 3,946,539.53
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 48,094.64 13,253.61 61,348.26
sub servicer fees 465.59 2,925.87 3,391.46
trustee fees 940.83 318.09 1,258.91
Aggregate advances N/A N/A N/A
Advances this periods 139,442.55 60,627.15 200,069.70
- --------------------------------------------------------------------------------
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% 165,016,220.15
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 86 11,809,318.82
60 to 89 days 21 2,146,236.53
90 or more 10 2,016,318.31
Foreclosure 53 6,492,673.49
Totals: 170 22,464,547.15
- --------------------------------------------------------------------------------
<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 5,312,290.33 5,312,290.33
Principal remittance amount 4,433,305.78 4,433,305.78
Interest remittance amount 878,984.55 878,984.55
