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Previous: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1999-11 TRUST, 8-K, 2000-01-06 |
Next: JLB & ASSOCIATES INC, 13F-HR, 2000-01-06 |
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): December 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 December 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 December 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: 12/28/99
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 December 27,
1999 distribution.
<TABLE>
<CAPTION>
Norwest Integrated Structured Assets, inc.
Mortgage Pass-Through Certificates
Record Date: 11/30/99
Distribution Date: 12/27/99
NISTAR Series: 1999-1
Contact: Customer Service - SecuritiesLink
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% 56,194.04 0.00 60.20
I-A-1 66938DCB3 SEQ 6.50000% 115,420,261.79 625,193.08 905,599.27
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 0.01 0.00
II-A-PO NIS991PO2 PO 0.00000% 47,041.68 0.00 1,707.58
II-A-1 66938DCG2 SEQ 6.50000% 44,055,740.97 238,635.26 1,035,652.00
B-1 66938DCH0 SUB 6.50000% 5,495,829.10 29,769.07 7,792.86
B-2 66938DCJ6 SUB 6.50000% 5,277,222.51 28,584.96 7,482.89
B-3 66938DCK3 SUB 6.50000% 2,199,914.31 11,916.20 3,119.39
B-4 66938DCL1 SUB 6.50000% 989,170.10 5,358.00 1,402.60
B-5 66938DCM9 SUB 6.50000% 548,989.41 2,973.69 778.44
B-6 66938DCN7 SUB 6.50000% 881,183.55 4,773.08 1,249.48
Totals 203,101,347.46 1,099,573.10 1,964,844.71
</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 56,133.84 60.20 0.00
I-A-1 0.00 114,514,662.52 1,530,792.35 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 0.01 0.00
II-A-PO 0.00 45,334.11 1,707.58 0.00
II-A-1 0.00 43,020,088.97 1,274,287.26 0.00
B-1 0.00 5,488,036.24 37,561.93 0.00
B-2 0.00 5,269,739.62 36,067.85 0.00
B-3 0.00 2,196,794.92 15,035.59 0.00
B-4 0.00 987,767.50 6,760.60 0.00
B-5 0.00 548,210.96 3,752.13 0.00
B-6 0.00 879,934.07 6,022.56 2,428.01
Totals 0.00 201,136,502.75 3,064,417.81 2,428.01
<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 56,194.04 55.35 4.85 0.00 0.00
I-A-1 130,136,000.00 115,420,261.79 114,470.75 791,128.52 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 47,041.68 168.19 1,539.39 0.00 0.00
II-A-1 48,365,647.00 44,055,740.97 153,740.00 881,912.00 0.00 0.00
B-1 5,556,000.00 5,495,829.10 7,792.86 0.00 0.00 0.00
B-2 5,335,000.00 5,277,222.51 7,482.89 0.00 0.00 0.00
B-3 2,224,000.00 2,199,914.31 3,119.39 0.00 0.00 0.00
B-4 1,000,000.00 989,170.10 1,402.60 0.00 0.00 0.00
B-5 555,000.00 548,989.41 778.44 0.00 0.00 0.00
B-6 890,831.16 881,183.55 1,249.48 0.00 0.00 0.00
Totals 222,297,475.89 203,101,347.46 290,259.95 1,674,584.76 0.00 0.00
<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 60.20 56,133.84 0.99038861 60.20
I-A-1 905,599.27 114,514,662.52 0.87996144 905,599.27
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 1,707.58 45,334.11 0.93435538 1,707.58
II-A-1 1,035,652.00 43,020,088.97 0.88947614 1,035,652.00
B-1 7,792.86 5,488,036.24 0.98776750 7,792.86
B-2 7,482.89 5,269,739.62 0.98776750 7,482.89
B-3 3,119.39 2,196,794.92 0.98776750 3,119.39
B-4 1,402.60 987,767.50 0.98776750 1,402.60
B-5 778.44 548,210.96 0.98776750 778.44
B-6 1,249.48 879,934.07 0.98776750 1,249.48
Totals 1,964,844.71 201,136,502.75 0.90480786 1,964,844.71
</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 56,678.60 991.45074155 0.97655905 0.08557022 0.00000000
I-A-1 130,136,000.00 886.92031252 0.87962401 6.07924418 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 48,519.13 969.54912423 3.46646776 31.72748563 0.00000000
II-A-1 48,365,647.00 910.88910627 3.17870244 18.23426450 0.00000000
B-1 5,556,000.00 989.17010439 1.40260259 0.00000000 0.00000000
B-2 5,335,000.00 989.17010497 1.40260356 0.00000000 0.00000000
B-3 2,224,000.00 989.17010342 1.40260342 0.00000000 0.00000000
B-4 1,000,000.00 989.17010000 1.40260000 0.00000000 0.00000000
B-5 555,000.00 989.17010811 1.40259459 0.00000000 0.00000000
B-6 890,831.16 989.17010267 1.40260024 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 1.06212927 990.38861228 0.99038861 1.06212927
I-A-1 0.00000000 6.95886818 879.96144434 0.87996144 6.95886818
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 35.19395340 934.35537694 0.93435538 35.19395340
II-A-1 0.00000000 21.41296693 889.47613934 0.88947614 21.41296693
B-1 0.00000000 1.40260259 987.76750180 0.98776750 1.40260259
B-2 0.00000000 1.40260356 987.76750141 0.98776750 1.40260356
B-3 0.00000000 1.40260342 987.76750000 0.98776750 1.40260342
B-4 0.00000000 1.40260000 987.76750000 0.98776750 1.40260000
B-5 0.00000000 1.40259459 987.76749550 0.98776750 1.40259459
B-6 0.00000000 1.40260024 987.76750243 0.98776750 1.40260024
<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% 56,194.04 0.00 0.00 0.00
I-A-1 130,136,000.00 6.50000% 115,420,261.79 625,193.08 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% 47,041.68 0.00 0.00 0.00
II-A-1 48,365,647.00 6.50000% 44,055,740.97 238,635.26 0.00 0.00
B-1 5,556,000.00 6.50000% 5,495,829.10 29,769.07 0.00 0.00
B-2 5,335,000.00 6.50000% 5,277,222.51 28,584.96 0.00 0.00
B-3 2,224,000.00 6.50000% 2,199,914.31 11,916.20 0.00 0.00
B-4 1,000,000.00 6.50000% 989,170.10 5,358.00 0.00 0.00
B-5 555,000.00 6.50000% 548,989.41 2,973.69 0.00 0.00
B-6 890,831.16 6.50000% 881,183.55 4,773.08 0.00 0.00
Totals 222,297,575.89 1,099,573.09 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 56,133.84
I-A-1 0.00 0.00 625,193.08 0.00 114,514,662.52
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 0.01 0.00 0.00
II-A-PO 0.00 0.00 0.00 0.00 45,334.11
II-A-1 0.00 0.00 238,635.26 0.00 43,020,088.97
B-1 0.00 0.00 29,769.07 0.00 5,488,036.24
B-2 0.00 0.00 28,584.96 0.00 5,269,739.62
B-3 0.00 0.00 11,916.20 0.00 2,196,794.92
B-4 0.00 0.00 5,358.00 0.00 987,767.50
B-5 0.00 0.00 2,973.69 0.00 548,210.96
B-6 0.00 0.00 4,773.08 0.00 879,934.07
Totals 0.00 0.00 1,099,573.10 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% 991.45074155 0.00000000 0.00000000 0.00000000
I-A-1 130,136,000.00 6.50000% 886.92031252 4.80415166 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% 969.54912423 0.00000000 0.00000000 0.00000000
II-A-1 48,365,647.00 6.50000% 910.88910627 4.93398258 0.00000000 0.00000000
B-1 5,556,000.00 6.50000% 989.17010439 5.35800396 0.00000000 0.00000000
B-2 5,335,000.00 6.50000% 989.17010497 5.35800562 0.00000000 0.00000000
B-3 2,224,000.00 6.50000% 989.17010342 5.35800360 0.00000000 0.00000000
B-4 1,000,000.00 6.50000% 989.17010000 5.35800000 0.00000000 0.00000000
B-5 555,000.00 6.50000% 989.17010811 5.35800000 0.00000000 0.00000000
B-6 890,831.16 6.50000% 989.17010267 5.35800746 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 990.38861228
I-A-1 0.00000000 0.00000000 4.80415166 0.00000000 879.96144434
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 0.10000000 0.00000000 0.00000000
II-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 934.35537694
II-A-1 0.00000000 0.00000000 4.93398258 0.00000000 889.47613934
B-1 0.00000000 0.00000000 5.35800396 0.00000000 987.76750180
B-2 0.00000000 0.00000000 5.35800562 0.00000000 987.76750141
B-3 0.00000000 0.00000000 5.35800360 0.00000000 987.76750000
B-4 0.00000000 0.00000000 5.35800000 0.00000000 987.76750000
B-5 0.00000000 0.00000000 5.35800000 0.00000000 987.76749550
B-6 0.00000000 0.00000000 5.35800746 0.00000000 987.76750243
<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 47,664.79
Deposits
Payments of Interest and Principal 3,100,972.94
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 3,100,972.94
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 44,696.27
Payment of Interest and Principal 3,064,417.83
Total Withdrawals (Pool Distribution Amount) 3,109,114.10
Ending Balance 39,523.64
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 493.90
Servicing Fee Support 493.90
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 42,312.90
Master Servicing Fee 2,877.28
Supported Prepayment/Curtailment Interest Shortfall 493.90
Net Servicing Fee 44,696.27
</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 7 657,867.85 0.470114% 0.327075%
60 Days 1 189,052.25 0.067159% 0.093992%
90+ Days 1 302,691.69 0.067159% 0.150491%
Foreclosure 1 41,803.66 0.067159% 0.020784%
REO 0 0.00 0.000000% 0.000000%
Totals 10 1,191,415.45 0.671592% 0.592342%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 2,428.01
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 326,469.93
</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% 86,565,706.39 43.03828753% 56.962540% 0.000000%
Class I-A-2 85,244,897.29 38.34720057% 79,705,706.39 39.62766842% 3.412341% 0.000000%
Class I-A-3 68,221,897.29 30.68944725% 62,682,706.39 31.16426185% 8.467678% 0.000000%
Class I-A-4 63,975,097.29 28.77903505% 58,435,906.39 29.05285992% 2.112468% 0.000000%
Class II-A- 15,560,831.16 7.00000038% 15,370,483.31 7.64181692% 21.399299% 0.000000%
Class B-1 10,004,831.16 4.50064789% 9,882,447.07 4.91330362% 2.729890% 0.000000%
Class B-2 4,669,831.16 2.10071169% 4,612,707.45 2.29332189% 2.621304% 0.000000%
Class B-3 2,445,831.16 1.10025094% 2,415,912.53 1.20113082% 1.092742% 0.000000%
Class B-4 1,445,831.16 0.65040348% 1,428,145.03 0.71003772% 0.491341% 0.000000%
Class B-5 890,831.16 0.40073814% 879,934.07 0.43748104% 0.272694% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.437702% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
<S> <C> Original $<C> Original % Current $<C><C> Current %
Bankruptcy 100,000.00 0.04498475% 100,000.00 0.04971748%
Fraud 4,445,951.52 2.00000000% 4,445,951.52 2.21041505%
Special Hazard 2,222,975.76 1.00000000% 2,222,975.76 1.10520752%
<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 7.653615%
Weighted Average Pass-Through Rate 6.500000%
Weighted Average Maturity(Stepdown Calculation ) 305
Beginning Scheduled Collateral Loan Count 1,498
Number Of Loans Paid In Full 9
Ending Scheduled Collateral Loan Count 1,489
Beginning Scheduled Collateral Balance 203,101,347.48
Ending Scheduled Collateral Balance 201,136,502.77
Ending Actual Collateral Balance at 30-Nov-1999 202,172,427.46
Ending Scheduled Balance For Norwest 159,944,268.20
Ending Scheduled Balance For Other Services 41,192,234.57
Monthly P &I Constant 1,438,282.19
Class A Optimal Amount 2,957,449.36
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 194,401,585.89
Ending scheduled Balance For discounted Loans 6,734,916.88
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 162,677,959.29
Greater Than 80%, less than or equal to 85% 5,058,577.27
Greater than 85%, less than or equal to 95% 33,430,326.98
Greater than 95% 33,612.01
</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 7.741380 7.367296
Weighted Average Net Rate 6.497704 6.493696
Weighted Average Maturity 347.00 166.00
Beginning Loan Count 1,045 453 1,498
Loans Paid In Full 5 4 9
Ending Loan Count 1,040 449 1,489
Beginning Scheduled Balance 155,450,809.91 47,650,537.57 203,101,347.48
Ending scheduled Balance 154,535,705.27 46,600,797.50 201,136,502.77
Record Date 11/30/99 11/30/99
Principal And Interest Constant 1,000,833.25 437,448.94 1,438,282.19
Scheduled Principal 123,971.27 166,288.68 290,259.95
Unscheduled Principal 791,133.37 883,451.39 1,674,584.76
Scheduled Interest 876,318.61 268,459.12 1,144,777.73
Servicing Fees 32,385.70 9,927.20 42,312.90
Master Servicing Fees 2,202.23 675.05 2,877.28
Trustee Fee 0.00 0.00 0.00
FRY Amount 126,521.37 24,087.35 150,608.72
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 715,209.31 233,769.52 948,978.83
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage 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 624,255.84 0.00 302,691.69 41,803.66 0.00 117,967.26
Percentage Of Balance 0.404% 0.000% 0.196% 0.027% 0.000% 0.076%
Loan Count 6 0 1 1 0 1
Percentage Of Loans 0.577% 0.000% 0.096% 0.096% 0.000% 0.096%
2 Principal Balance 33,612.01 189,052.25 0.00 0.00 0.00 0.00
Percentage Of Balance 0.072% 0.406% 0.000% 0.000% 0.000% 0.000%
Loan Count 1 1 0 0 0 0
Percentage Of Loans 0.223% 0.223% 0.000% 0.000% 0.000% 0.000%
Totals:Principal Balance 657,867.85 189,052.25 302,691.69 41,803.66 0.00 117,967.26
Percentage of Balance 0.327% 0.094% 0.150% 0.021% 0.000% 0.059%
Loan Count 7 1 1 1 0 1
Percentage Of Loans 0.470% 0.067% 0.067% 0.067% 0.000% 0.067%
</TABLE>
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