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Previous: INTEGRATED HOMES INC, 10SB12G, 1999-07-16 |
Next: ALLIANCE HEALTH CARE FUND INC, N-1A/A, 1999-07-16 |
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): June 25, 1999
MELLON RESIDENTIAL FUNDING CORPORATION
(as depositor under the Pooling and Servicing Agreement, dated
as of April 29 , 1999, which forms Mellon Bank Residential Funding
Home Equity Installment Loan Trust 1999-1 Mortgage Pass-Through
Certificates, Series MHELT 1999-1.
MELLON RESIDENTIAL FUNDING CORPORATION
HOME EQUITY INSTALLMENT LOAN TRUST 1999-1
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES MHELT 1999-1
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-24453-06 23-2889067
(Commission File Number) (I.R.S. Employer
Identification No.)
ONE MELLON BANK CENTER, ROOM 410
PITTSBURGH, PENNSYLVANIA 15258
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (412) 236-6559
ITEM 5. Other Events
Attached hereto are copies of the Monthly Remittance Statements
to the Certificateholders which were derived from the monthly
information submitted by the Master Servicer of the Trust to the
Trustee.
ITEM 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
June 25, 1999.
SIGNATURE
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, hereunto duly authorized.
Bankers Trust Company of California, N.A.,
not in its individual capacity, but solely
as a duly authorized agent of the Registrant
pursuant to the Pooling and Servicing
Agreement, dated as of April 29, 1999.
Date: July 15, 1999 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
Monthly Remittance Statement to the Certificateholders
dated as of June 25, 1999.
Mellon Bank MHELT 1999-1
Mortgage Pass-Through Certificates
June 25, 1999 Distribution
Contents
TABLE OF CONTENTS
Page
1. Contents
> 1
2. Certificate Payment
> Report 2
3. Collection Account
>Report 4
4. Credit Enhancement
>Report 7
5. Delinquency Report
> 8
6. Triggers, Adj. Rate
> Cert. and Miscellaneous Report 9
7. Other Related Infor
>mation 10
Total Number of Pag
>es 10
CONTACTS
Administrator: Ba
>rbara Campbell
Direct Phone Number
>: (949)224-8076
Address: Bankers
>Trust Company of California, N.A.
3
>Park Plaza 16th Floor, Irvine, CA 92614
Web Site: http://
>online.bankerstrust.com/invr/
Factor Information:
> (800) 735-7777
Main Phone Number:
> (949) 253-7575
ISSUANCE INFORMATION
Seller: Mellon Bank, N.A.
> Cut-Off Date: March 31, 1
>999
Certificate Insurer:
> Closing Date: April 29,
>1999
Servicer(s): Mellon Bank, N.A. Master Serv
>icer First Payment Date: May 25, 1999
>
Underwriter(s): J. P. Morgan Lead Underwriter
> Distribution Date: June 25, 199
>9
Mellon Financial Markets, Inc.
> Underwriter Record Date: May 28, 19
>99
> Page 1 of 10
> (c) COPYRIGHT 1999 Bankers Trust Company
Mellon Bank MHELT 1999-1
Mortgage Pass-Through Certificates
Certificate Payment Report for June 25, 1999 Distribution
Distribution in Dollars - Current Period
Prio
>r
> Current
Class Original Prin
>cipal Total Realized Deferred
> Principal
Class Type Face Value Bala
>nce Interest Principal Distribution Losses Interest
> Balance
(1)
> (2) (3) (4)=(2)+(3) (5) (6)
> (7)=(1)-(3)-(5)+(6)
A-1 SEQ 61600000
>59627884.91 293170.43 1705063.27 1998233.7 0
> 0 57922821.64
A-2 SEQ 27000000
> 27000000 135450 0 135450 0
> 0 27000000
A-3 SEQ 10700000
> 10700000 55996.67 0 55996.67 0
> 0 10700000
A-4 SEQ 10906000
> 10906000 61891.55 0 61891.55 0
> 0 10906000
A-5 NAS 13400000
> 13400000 70461.67 0 70461.67 0
> 0 13400000
B SUB 10750000
> 10750000 62260.42 0 62260.42 0
> 0 10750000
R R 0
> 0 0 0 0 0
> 0 0
Total 134356000
>132383884.9 679230.74 1705063.27 2384294.01 0
> 0 130678821.6
Interest Accrual Detail Curr
>ent Period Factor Information per $1,000 of Original Face
> Orig. PrincipalPrior
> Current
Period Period
> (with Notional)Principal Total
> Principal
Class Starting Ending Method Cusi
>p Balance Balance Interest Principal Distribu
>tion Balance
> (1) (2) (3) (4)=(2)+
>(3) (5)
A-1 F-30/360 5855
>0SAG5 61600000 967.9851446 4.759260227 27.67959854 32.4
>3885877 940.3055461
A-2 F-30/360 5855
>0SAH3 27000000 1000 5.016666667 0 5.01
>6666667 1000
A-3 F-30/360 5855
>0SAJ9 10700000 1000 5.233333645 0 5.23
>3333645 1000
A-4 F-30/360 5855
>0SAK6 10906000 1000 5.675 0
> 5.675 1000
A-5 F-30/360 5855
>0SAL4 13400000 1000 5.258333582 0 5.25
>8333582 1000
B F-30/360 5855
>0SAM2 10750000 1000 5.791666977 0 5.79
>1666977 1000
R -
> 0 0 0 0
> 0 0
> Page 2 of 10
> (c) COPYRIGHT 1999 Bankers Trust Company
Mellon Bank MHELT 1999-1
Mortgage Pass-Through Certificates
Certificate Payment Report for June 25, 1999 Distribution
Distribution in Dollars - to Date
>
> Current
Original Unsc
>heduled Scheduled Total Total Realized Deferred
> Principal
Class Face Value Interest Prin
>cipal Principal Principal Distribution Losses Interest
> Balance
(1) (2) (3)
> (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8)
> (9)=(1)-(5)-(7)+(8)
A-1 61600000 596037.1
> 3092471.52 584706.84 3677178.36 4273215.46 0
> 0 57922821.64
A-2 27000000 270900
> 0 0 0 270900 0
> 0 27000000
A-3 10700000 111993.34
> 0 0 0 111993.34 0
> 0 10700000
A-4 10906000 123783.1
> 0 0 0 123783.1 0
> 0 10906000
A-5 13400000 140923.34
> 0 0 0 140923.34 0
> 0 13400000
B 10750000 124520.84
> 0 0 0 124520.84 0
> 0 10750000
R 0 0
> 0 0 0 0 0
> 0 0
Total 134356000 1368157.72
> 3092471.52 584706.84 3677178.36 5045336.08 0
> 0 130678821.6
Interest Detail
Pass- Prior Principal
> Non- Prior Unscheduled Paid or
> Current
Through (with Notional) Accr
>ued Supported Unpaid Interest Optimal Deferred
> Unpaid
Class Rate Balance Inte
>rest Interest SF Interest Adjustments Interest Interest
> Interest
(1)
> (2) (3) (4) (5)=(1)-(2)+(3)(6)
> (7)=(5)-(6)
A-1 0.059 59627884.91
> 293170.43 0 0 0 293170.43 29
>3170.43 0
A-2 0.0602 27000000
> 135450 0 0 0 135450
> 135450 0
A-3 0.0628 10700000
> 55996.67 0 0 0 55996.67 5
>5996.67 0
A-4 0.0681 10906000
> 61891.55 0 0 0 61891.55 6
>1891.55 0
A-5 0.0631 13400000
> 70461.67 0 0 0 70461.67 7
>0461.67 0
B 0.0695 10750000
> 62260.42 0 0 0 62260.42 6
>2260.42 0
R 0
> 0 0 0 0 0
> 0 0
Total 132383884.9
> 679230.74 0 0 0 679230.74 67
>9230.74 0
*Unpaid Interest reflects Interest Carryover Amounts
> Page 3 of 10
> (c) COPYRIGHT 1999 Bankers Trust Company
Mellon Bank MHELT 1999-1
Mortgage Pass-Through Certificates
Collection Account Report for June 25, 1999 Distribution
Collection Account Report
SUMMARY
> TOTAL
Principal Collections
> 1,481,175.71
Principal Withdrawals
> 0.00
Principal Other Accounts
> 0.00
TOTAL NET PRINCIPAL
> 1,481,175.71
Interest Collections
> 867,079.65
Interest Withdrawals
> 0.00
Interest Other Accounts
> 0.00
Interest Other Fees
> (55,195.19)
TOTAL NET INTEREST
> 811,884.46
TOTAL AVAILABLE FUNDS TO BONDHOLDERS
> 2,293,060.17
PRINCIPAL - COLLECTIONS
> TOTAL
Scheduled Principal
> 295,420.53
Curtailments
> 0.00
Prepayments In Full
> 1,185,755.18
Repurchases/Substitutions
> 0.00
Liquidations
> 0.00
Insurance Principal
> 0.00
Other Principal
> 0.00
Delinquent Principal
> 0.00
Principal Advanced
> 0.00
Total Realized Loss Of Principal
> 0.00
TOTAL PRINCIPAL COLLECTED
> 1,481,175.71
Page 4 of 10
> (c) COPYRIGHT 1999 Bankers Trust Company
>
Mellon Bank MHELT 1999-1
Mortgage Pass-Through Certificates
Collection Account Report for June 25, 1999 Distribution
Collection Account Report
PRINCIPAL - WITHDRAWALS
> TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS
> TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS
> TOTAL
Current Interest
> 905,148.06
Repurchases/Substitutions
> 0.00
Liquidation Interest
> 0.00
Insurance Interest
> 0.00
Other Interest
> 5,408.31
Amounts Held for Future Distribution
> (107,299.71)
Interest Advanced
> 63,131.51
Compensating Interest
> 691.48
TOTAL INTEREST COLLECTED
> 867,079.65
Page 5 of 10
> (c) COPYRIGHT 1999 Bankers Trust Company
>
Mellon Bank MHELT 1999-1
Mortgage Pass-Through Certificates
Collection Account Report for June 25, 1999 Distribution
Collection Account Report
INTEREST - WITHDRAWALS
> TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - OTHER ACCOUNTS
> TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - FEES
> TOTAL
Master Servicing Fees
> 55,195.19
TOTAL INTEREST OTHER FEES
> 55,195.19
Page 6 of 10
> (c) COPYRIGHT 1999 Bankers Trust Company
>
Mellon Bank MHELT 1999-1
Mortgage Pass-Through Certificates
Credit Enhancement Report for June 25, 1999 Distribution
Credit Enhancement Report
ACCOUNTS
> TOTAL
SPACE INTENTIONALLY LEFT BLANK
INSURANCE
> TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES
> TOTAL
Extra Principal Distribution Amount
> 223,887.56
Ending Overcollateralization Amount
> 308,467.61
Overcollateralization Deficiency Amt
> 1,258,979.95
Page 7 of 10
> (c) COPYRIGHT 1999 Bankers Trust Company
>
Mellon Bank MHELT 1999-1
Mortgage Pass-Through Certificates
Delinquency Report for June 25, 1999 Distribution
Delinquency Report - Total
CURRENT 1 PA
>YMENT 2 PAYMTS 3+ PAYMTS TOTAL
DELINQUENT Balance
> 664616 27010 0 691626
% Balance
>0.005073897 0.000206203 0 0.0052801
# Loans
> 14 1 0 15
% # Loans
>0.006011164 0.000429369 0 0.006440532
FORECLOSURE Balance 0
> 0 0 0 0
% Balance 0
> 0 0 0 0
# Loans 0
> 0 0 0 0
% # Loans 0
> 0 0 0 0
BANKRUPTCY Balance 0
> 0 0 0 0
% Balance 0
> 0 0 0 0
# Loans 0
> 0 0 0 0
% # Loans 0
> 0 0 0 0
REO Balance 0
> 0 0 0 0
% Balance 0
> 0 0 0 0
# Loans 0
> 0 0 0 0
% # Loans 0
> 0 0 0 0
TOTAL Balance 0
> 664616 27010 0 691626
% Balance 0
>0.005073897 0.000206203 0 0.0052801
# Loans 0
> 14 1 0 15
% # Loans 0
>0.006011164 0.000429369 0 0.006440532
Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Pay
>ments = 90+
> 6 Months Moving Average
1 or 2 Payments Delinquent 3 or
> More Payments Delinquent
Total Foreclosure Tota
>l Bankruptcy and REO
Note: Dates correspond to distribution dates.
Page 8 of 10
> (c) COPYRIGHT 1999 Bankers Trust Company
>
Mellon Bank MHELT 1999-1
Mortgage Pass-Through Certificates
Triggers, Adj. Rate Cert. and Miscellaneous Report for June 25,
>1999 Distribution
Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS
> TOTAL
Step Down Trigger
> No
ADJUSTABLE RATE CERTIFICATE INFORMATION
> TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION
> TOTAL
Beginning Pool Balance
> 132,468,464.96
Ending Pool Balance
> 130,987,289.25
Pool Realized Losses
> 0.00
Total Master Servicing Fees
> 55,195.19
Compensating Interest
> 691.48
Delinquent Servicing Fees
> (8,821.89)
COLLECTED SERVICING FEES
> 63,325.60
Total Advanced Interest
> 63,131.51
Current Nonrecoverable Advances
> 0.00
Cumulative Nonrecoverable Advances
> 0.00
Page 9 of 10
> (c) COPYRIGHT 1999 Bankers Trust Company
>
Mellon Bank MHELT 1999-1
Mortgage Pass-Through Certificates
Other Related Information for June 25, 1999 Distribution
Other Related Information
ADDITIONAL INFORMATION
> TOTAL
PROPERTIES IN REO:
Loan Number / Stated Principal Balance
Page 10 of 10
> (c) COPYRIGHT 1999 Bankers Trust Company
>
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