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Previous: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1999-11 TRUST, 8-K, 1999-10-07 |
Next: OPT ONE MORT ACCEPT CORP LOAN TR ASSET BK CERT SER 1999-2, 8-K, 1999-10-07 |
UNITED STATES
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 27, 1999
NORWEST INTEGRATED STRUCTURED ASSETS, INC.
Mortgage Pass-Through Certificates, Series 1999-1 Trust
New York (governing law of 333-17801-04 52-2164958
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway 21044
Columbia, MD (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
Former name or former address, if changed since last report)
ITEM 5. Other Events
On September 27, 1999 a distribution was made to holders of NORWEST
INTEGRATED STRUCTURED ASSETS, INC., Mortgage Pass-Through Certificates,
Series 1999-1 Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of
Regulation S-K
Exhibit Number Description
Monthly report distributed to holders of
EX-99.1 Mortgage Pass-Through Certificates, Series
1999-1 Trust, relating to the September 27,
1999 distribution.
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.
NORWEST INTEGRATED STRUCTURED ASSETS, INC.
Mortgage Pass-Through Certificates, Series 1999-1 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 10/4/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1999-1 Trust, relating to the September
27, 1999 distribution.
<TABLE>
<CAPTION>
Norwest Integrated Structured Assets, inc.
Mortgage Pass-Through Certificates
Record Date: 8/31/99
Distribution Date: 9/27/99
NISTAR Series: 1999-1
Contact: Customer Service
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 846-8130
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
I-A-PO NIS991PO1 PO 0.00000% 56,373.94 0.00 60.43
I-A-1 66938DCB3 SEQ 6.50000% 120,765,481.67 654,146.36 2,525,070.33
I-A-2 66938DCC1 SEQ 6.50000% 6,860,000.00 37,158.33 0.00
I-A-3 66938DCD9 SEQ 6.50000% 17,023,000.00 92,207.92 0.00
I-A-4 66938DCE7 SEQ 6.50000% 4,246,800.00 23,003.50 0.00
I-AR 66938DCF4 R 6.50000% 0.00 0.00 0.00
II-A-PO NIS991PO2 PO 0.00000% 47,601.74 0.00 185.57
II-A-1 66938DCG2 SEQ 6.50000% 45,567,557.58 246,824.27 851,319.50
B-1 66938DCH0 SUB 6.50000% 5,518,915.98 29,894.13 7,585.10
B-2 66938DCJ6 SUB 6.50000% 5,299,391.06 28,705.03 7,283.38
B-3 66938DCK3 SUB 6.50000% 2,209,155.71 11,966.26 3,036.22
B-4 66938DCL1 SUB 6.50000% 993,325.41 5,380.51 1,365.21
B-5 66938DCM9 SUB 6.50000% 551,295.60 2,986.18 757.69
B-6 66938DCN7 SUB 6.50000% 884,885.23 4,793.13 1,020.81
Totals 210,023,783.92 1,137,065.62 3,397,684.24
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
I-A-PO 0.00 56,313.51 60.43 0.00
I-A-1 0.00 118,240,411.35 3,179,216.69 0.00
I-A-2 0.00 6,860,000.00 37,158.33 0.00
I-A-3 0.00 17,023,000.00 92,207.92 0.00
I-A-4 0.00 4,246,800.00 23,003.50 0.00
I-AR 0.00 0.00 0.00 0.00
II-A-PO 0.00 47,416.18 185.57 0.00
II-A-1 0.00 44,716,238.07 1,098,143.77 0.00
B-1 0.00 5,511,330.88 37,479.23 0.00
B-2 0.00 5,292,107.68 35,988.41 0.00
B-3 0.00 2,206,119.49 15,002.48 0.00
B-4 0.00 991,960.20 6,745.72 0.00
B-5 0.00 550,537.91 3,743.87 0.00
B-6 195.36 883,669.06 5,813.94 1,830.31
Totals 195.36 206,625,904.33 4,534,749.86 1,830.31
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
I-A-PO 56,678.60 56,373.94 54.39 6.05 0.00 0.00
I-A-1 130,136,000.00 120,765,481.67 114,322.97 2,410,747.35 0.00 0.00
I-A-2 6,860,000.00 6,860,000.00 0.00 0.00 0.00 0.00
I-A-3 17,023,000.00 17,023,000.00 0.00 0.00 0.00 0.00
I-A-4 4,246,800.00 4,246,800.00 0.00 0.00 0.00 0.00
II-A-PO 48,519.13 47,601.74 170.62 14.94 0.00 0.00
II-A-1 48,365,647.00 45,567,557.58 154,168.64 697,150.87 0.00 0.00
B-1 5,556,000.00 5,518,915.98 7,585.10 0.00 0.00 0.00
B-2 5,335,000.00 5,299,391.06 7,283.38 0.00 0.00 0.00
B-3 2,224,000.00 2,209,155.71 3,036.22 0.00 0.00 0.00
B-4 1,000,000.00 993,325.41 1,365.21 0.00 0.00 0.00
B-5 555,000.00 551,295.60 757.69 0.00 0.00 0.00
B-6 890,831.16 884,885.23 1,020.81 0.00 0.00 195.36
Totals 222,297,475.89 210,023,783.92 289,765.03 3,107,919.21 0.00 195.36
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
I-A-PO 60.43 56,313.51 0.99355859 60.43
I-A-1 2,525,070.33 118,240,411.35 0.90859110 2,525,070.33
I-A-2 0.00 6,860,000.00 1.00000000 0.00
I-A-3 0.00 17,023,000.00 1.00000000 0.00
I-A-4 0.00 4,246,800.00 1.00000000 0.00
II-A-PO 185.57 47,416.18 0.97726773 185.57
II-A-1 851,319.50 44,716,238.07 0.92454543 851,319.50
B-1 7,585.10 5,511,330.88 0.99196020 7,585.10
B-2 7,283.38 5,292,107.68 0.99196020 7,283.38
B-3 3,036.22 2,206,119.49 0.99196020 3,036.22
B-4 1,365.21 991,960.20 0.99196020 1,365.21
B-5 757.69 550,537.91 0.99196020 757.69
B-6 1,216.17 883,669.06 0.99196020 1,020.81
Totals 3,397,879.60 206,625,904.33 0.92950180 3,397,684.24
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
I-A-PO 56,678.60 994.62477902 0.95962144 0.10674223 0.00000000
I-A-1 130,136,000.00 927.99441869 0.87848843 18.52483056 0.00000000
I-A-2 6,860,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A-3 17,023,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A-4 4,246,800.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-AR 100.00 0.00000000 0.00000000 0.00000000 0.00000000
II-A-PO 48,519.13 981.09220013 3.51655110 0.30791978 0.00000000
II-A-1 48,365,647.00 942.14717276 3.18756493 14.41417438 0.00000000
B-1 5,556,000.00 993.32541037 1.36520878 0.00000000 0.00000000
B-2 5,335,000.00 993.32540956 1.36520712 0.00000000 0.00000000
B-3 2,224,000.00 993.32540917 1.36520683 0.00000000 0.00000000
B-4 1,000,000.00 993.32541000 1.36521000 0.00000000 0.00000000
B-5 555,000.00 993.32540541 1.36520721 0.00000000 0.00000000
B-6 890,831.16 993.32541309 1.14590738 0.00000000 0.00000000
<FN>
Per $1,000 Denomination.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
I-A-PO 0.00000000 1.06618724 993.55859178 0.99355859 1.06618724
I-A-1 0.00000000 19.40331907 908.59109970 0.90859110 19.40331907
I-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
II-A-PO 0.00000000 3.82467699 977.26772924 0.97726773 3.82467699
II-A-1 0.00000000 17.60173910 924.54543346 0.92454543 17.60173910
B-1 0.00000000 1.36520878 991.96020158 0.99196020 1.36520878
B-2 0.00000000 1.36520712 991.96020244 0.99196020 1.36520712
B-3 0.00000000 1.36520683 991.96020234 0.99196020 1.36520683
B-4 0.00000000 1.36521000 991.96020000 0.99196020 1.36521000
B-5 0.00000000 1.36520721 991.96019820 0.99196020 1.36520721
B-6 0.21930082 1.36520820 991.96020489 0.99196020 1.14590738
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
I-A-PO 56,678.60 0.00000% 56,373.94 0.00 0.00 0.00
I-A-1 130,136,000.00 6.50000% 120,765,481.67 654,146.36 0.00 0.00
I-A-2 6,860,000.00 6.50000% 6,860,000.00 37,158.33 0.00 0.00
I-A-3 17,023,000.00 6.50000% 17,023,000.00 92,207.92 0.00 0.00
I-A-4 4,246,800.00 6.50000% 4,246,800.00 23,003.50 0.00 0.00
I-AR 100.00 6.50000% 0.00 0.00 0.00 0.00
II-A-PO 48,519.13 0.00000% 47,601.74 0.00 0.00 0.00
II-A-1 48,365,647.00 6.50000% 45,567,557.58 246,824.27 0.00 0.00
B-1 5,556,000.00 6.50000% 5,518,915.98 29,894.13 0.00 0.00
B-2 5,335,000.00 6.50000% 5,299,391.06 28,705.03 0.00 0.00
B-3 2,224,000.00 6.50000% 2,209,155.71 11,966.26 0.00 0.00
B-4 1,000,000.00 6.50000% 993,325.41 5,380.51 0.00 0.00
B-5 555,000.00 6.50000% 551,295.60 2,986.18 0.00 0.00
B-6 890,831.16 6.50000% 884,885.23 4,793.13 0.00 0.00
Totals 222,297,575.89 1,137,065.62 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
I-A-PO 0.00 0.00 0.00 0.00 56,313.51
I-A-1 0.00 0.00 654,146.36 0.00 118,240,411.35
I-A-2 0.00 0.00 37,158.33 0.00 6,860,000.00
I-A-3 0.00 0.00 92,207.92 0.00 17,023,000.00
I-A-4 0.00 0.00 23,003.50 0.00 4,246,800.00
I-AR 0.00 0.00 0.00 0.00 0.00
II-A-PO 0.00 0.00 0.00 0.00 47,416.18
II-A-1 0.00 0.00 246,824.27 0.00 44,716,238.07
B-1 0.00 0.00 29,894.13 0.00 5,511,330.88
B-2 0.00 0.00 28,705.03 0.00 5,292,107.68
B-3 0.00 0.00 11,966.26 0.00 2,206,119.49
B-4 0.00 0.00 5,380.51 0.00 991,960.20
B-5 0.00 0.00 2,986.18 0.00 550,537.91
B-6 0.00 0.00 4,793.13 0.00 883,669.06
Totals 0.00 0.00 1,137,065.62 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
I-A-PO 56,678.60 0.00000% 994.62477902 0.00000000 0.00000000 0.00000000
I-A-1 130,136,000.00 6.50000% 927.99441869 5.02663644 0.00000000 0.00000000
I-A-2 6,860,000.00 6.50000% 1000.00000000 5.41666618 0.00000000 0.00000000
I-A-3 17,023,000.00 6.50000% 1000.00000000 5.41666686 0.00000000 0.00000000
I-A-4 4,246,800.00 6.50000% 1000.00000000 5.41666667 0.00000000 0.00000000
I-AR 100.00 6.50000% 0.00000000 0.00000000 0.00000000 0.00000000
II-A-PO 48,519.13 0.00000% 981.09220013 0.00000000 0.00000000 0.00000000
II-A-1 48,365,647.00 6.50000% 942.14717276 5.10329718 0.00000000 0.00000000
B-1 5,556,000.00 6.50000% 993.32541037 5.38051296 0.00000000 0.00000000
B-2 5,335,000.00 6.50000% 993.32540956 5.38051172 0.00000000 0.00000000
B-3 2,224,000.00 6.50000% 993.32540917 5.38051259 0.00000000 0.00000000
B-4 1,000,000.00 6.50000% 993.32541000 5.38051000 0.00000000 0.00000000
B-5 555,000.00 6.50000% 993.32540541 5.38050450 0.00000000 0.00000000
B-6 890,831.16 6.50000% 993.32541309 5.38051453 0.00000000 0.00000000
<FN>
(5) Per $1,000 Denomination.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
I-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 993.55859178
I-A-1 0.00000000 0.00000000 5.02663644 0.00000000 908.59109970
I-A-2 0.00000000 0.00000000 5.41666618 0.00000000 1000.00000000
I-A-3 0.00000000 0.00000000 5.41666686 0.00000000 1000.00000000
I-A-4 0.00000000 0.00000000 5.41666667 0.00000000 1000.00000000
I-AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
II-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 977.26772924
II-A-1 0.00000000 0.00000000 5.10329718 0.00000000 924.54543346
B-1 0.00000000 0.00000000 5.38051296 0.00000000 991.96020158
B-2 0.00000000 0.00000000 5.38051172 0.00000000 991.96020244
B-3 0.00000000 0.00000000 5.38051259 0.00000000 991.96020234
B-4 0.00000000 0.00000000 5.38051000 0.00000000 991.96020000
B-5 0.00000000 0.00000000 5.38050450 0.00000000 991.96019820
B-6 0.00000000 0.00000000 5.38051453 0.00000000 991.96020489
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 30,537.96
Deposits
Payments of Interest and Principal 4,595,548.97
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 4,595,548.97
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 45,201.06
Payment of Interest and Principal 4,534,749.87
Total Withdrawals (Pool Distribution Amount) 4,579,950.93
Ending Balance 46,136.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 1,528.95
Servicing Fee Support 1,528.95
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 43,754.69
Master Servicing Fee 2,975.32
Supported Prepayment/Curtailment Interest Shortfall 1,528.95
Net Servicing Fee 45,201.06
</TABLE>
<TABLE>
<CAPTION> CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 8 1,310,727.40 0.527704% 0.634348%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 1 41,803.66 0.065963% 0.020232%
REO 0 0.00 0.000000% 0.000000%
Totals 9 1,352,531.06 0.593668% 0.654580%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 195.36
Cumulative Realized Losses - Includes Interest Shortfall 1,830.31
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 294,574.48
</TABLE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current Next
Original $ Original % Current $ Current % Class% Prepayment%
<S> <C> <C> <C> <C> <C> <C> <C>
Class I-A-1 92,104,897.29 41.43315415% 88,329,179.47 42.74835711% 57.253131% 0.000000%
Class I-A-2 85,244,897.29 38.34720057% 81,469,179.47 39.42834744% 3.321677% 0.000000%
Class I-A-3 68,221,897.29 30.68944725% 64,446,179.47 31.18978701% 8.242698% 0.000000%
Class I-A-4 63,975,097.29 28.77903505% 60,199,379.47 29.13447840% 2.056341% 0.000000%
Class II-A-1 15,560,831.16 7.00000038% 15,435,725.22 7.47037273% 21.652028% 0.000000%
Class B-1 10,004,831.16 4.50064789% 9,924,394.34 4.80307364% 2.668639% 0.000000%
Class B-2 4,669,831.16 2.10071169% 4,632,286.66 2.24187121% 2.562489% 0.000000%
Class B-3 2,445,831.16 1.10025094% 2,426,167.17 1.17418345% 1.068224% 0.000000%
Class B-4 1,445,831.16 0.65040348% 1,434,206.97 0.69410802% 0.480317% 0.000000%
Class B-5 890,831.16 0.40073814% 883,669.06 0.42766615% 0.266576% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.427881% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 100,000.00 0.04498475% 100,000.00 0.04839664%
Fraud 4,445,951.52 2.00000000% 4,445,951.52 2.15169126%
Special Hazard 2,222,975.76 1.00000000% 2,222,975.76 1.07584563%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 7.658919%
Weighted Average Pass-Through Rate 6.500000%
Weighted Average Maturity(Stepdown Calculation ) 308
Beginning Scheduled Collateral Loan Count 1,534
Number Of Loans Paid In Full 18
Ending Scheduled Collateral Loan Count 1,516
Beginning Scheduled Collateral Balance 210,023,783.93
Ending Scheduled Collateral Balance 206,625,904.33
Ending Actual Collateral Balance at 31-Aug-1999 43,427,896.05
Ending Scheduled Balance For Norwest 163,331,804.56
Ending Scheduled Balance For Other Services 43,294,099.77
Monthly P &I Constant 1,476,809.08
Class A Optimal Amount 4,429,730.21
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 199,254,343.56
Ending scheduled Balance For discounted Loans 7,371,560.77
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 167,239,329.29
Greater Than 80%, less than or equal to 85% 5,075,581.74
Greater than 85%, less than or equal to 95% 34,334,300.88
Greater than 95% 33,847.01
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2 Total
Collateral Description Fixed 30 Year Fixed 15 Year
Weighted Average Coupon Rate 7.748269 7.366844
Weighted Average Net Rate 6.497729 6.494227
Weighted Average Maturity 1.00 1.00
Beginning Loan Count 1,078 456 1,534
Loans Paid In Full 16 2 18
Ending Loan Count 1,062 454 1,516
Beginning Scheduled Balance 160,823,909.47 49,199,874.46 210,023,783.93
Ending scheduled Balance 158,289,663.10 48,336,241.23 206,625,904.33
Record Date 8/31/99 8/31/99
Principal And Interest Constant 1,031,053.27 445,755.81 1,476,809.08
Scheduled Principal 123,492.97 166,467.42 289,960.39
Unscheduled Principal 2,410,753.40 697,165.81 3,107,919.21
Scheduled Interest 906,608.20 277,202.68 1,183,810.88
Servicing Fees 33,504.97 10,249.72 43,754.69
Master Servicing Fees 2,278.34 696.98 2,975.32
Trustee Fee 0.00 0.00 0.00
FRY Amount 131,813.81 24,829.63 156,643.44
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 739,011.08 241,426.35 980,437.43
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
% of Cumulative Losses 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C> <C> <C> <C> <C> <C>
Group 30 Days 60 Days 90 + Days Foreclosure REO Bankruptcy
1 Principal Balance 1,150,398.88 0.00 0.00 41,803.66 0.00 118,186.16
Percentage Of Balance 0.727% 0.000% 0.000% 0.026% 0.000% 0.075%
Loan Count 6 0 0 1 0 1
Percentage Of Loans 0.565% 0.000% 0.000% 0.094% 0.000% 0.094%
2 Principal Balance 160,328.52 0.00 0.00 0.00 0.00 0.00
Percentage Of Balance 0.332% 0.000% 0.000% 0.000% 0.000% 0.000%
Loan Count 2 0 0 0 0 0
Percentage Of Loans 0.441% 0.000% 0.000% 0.000% 0.000% 0.000%
Totals:Principal Balance 1,310,727.40 0.00 0.00 41,803.66 0.00 118,186.16
Percentage of Balance 0.634% 0.000% 0.000% 0.020% 0.000% 0.057%
Loan Count 8 0 0 1 0 1
Percentage Of Loans 0.528% 0.000% 0.000% 0.066% 0.000% 0.066%
</TABLE>
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