OPT ONE MORT ACCEPT CORP LOAN TR ASSET BK CERT SER 1999-2
8-K, 1999-07-09
ASSET-BACKED SECURITIES
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                                  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):  June 25, 1999

                         OPTION ONE MORTGAGE LOAN TRUST
                 Asset Backed Certificates, Series 1999-2


New York (governing law of          333-14625      PENDING
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, Maryland                                  (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 June 25, 1999 a distribution was made to holders of OPTION ONE MORTGAGE
LOAN TRUST, Asset Backed Certificates, Series 1999-2.



  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             Asset Backed Certificates, Series 1999-2
                                 Trust, relating to the June 25, 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.



                          OPTION ONE MORTGAGE LOAN TRUST
                  Asset Backed Certificates, Series 1999-2 Trust

              By:   Norwest Bank Minnesota, N.A., as Trustee
              By:   /s/ Sherri J. Sharps, Vice President
              By:   Sherri J. Sharps, Vice President
              Date: 7/1/99


                                INDEX TO EXHIBITS

Exhibit Number                   Description

EX-99.1        Monthly report distributed to holders of Asset Backed
                Certificates, Series 1999-2, relating to the June 25,
                1999 distribution.






<TABLE>
<CAPTION>
Option One Mortgage Loan Trust
Mortgage Pass-Through Certificates
Record Date:            5/31/99
Distribution Date:      6/25/99

OOMC  Series: 1999-2

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>
    A-1        68389FAC8         SEQ          5.88000%     72,999,166.49      357,695.92    2,286,152.35
    A-2        68389FAD6         SEQ          5.92000%     50,000,000.00      246,666.67            0.00
    A-3        68389FAE4         SEQ          6.02000%     24,000,000.00      120,400.00            0.00
    A-4        68389FAF1         SEQ          6.34000%     52,000,000.00      274,733.33            0.00
    A-5        68389FAG9         SEQ          6.76000%     15,791,000.00       88,955.97            0.00
    A-6        68389FAH7         SEQ          6.32000%     19,000,000.00      100,066.67            0.00
    A-7        68389FAJ3         SEQ          6.48000%     38,388,866.85      207,299.88      434,017.87
    A-8        68389FAK0         SEQ          5.21750%     93,851,800.56      421,661.80    2,474,236.47
     P         OPT99002P         SUB          0.00000%            100.00       50,994.16            0.00
     R         OPT99022R         RES          0.00000%              0.00      168,844.11            0.00
     OC        OPT9902OC         SUB          0.00000%      2,740,410.37            0.00            0.00
Totals                                                    368,771,344.27    2,037,318.51    5,194,406.69
</TABLE>
<TABLE>
<CAPTION>

                                       Certificateholder Distribution Summary (continued)

                          Current                Ending                                       Cumulative
                         Realized           Certificate                   Total                 Realized
Class                        Loss               Balance            Distribution                   Losses
<S>           <C>                  <C>                     <C>                      <C>
A-1                            0.00          70,713,014.14             2,643,848.27                      0.00
A-2                            0.00          50,000,000.00               246,666.67                      0.00
A-3                            0.00          24,000,000.00               120,400.00                      0.00
A-4                            0.00          52,000,000.00               274,733.33                      0.00
A-5                            0.00          15,791,000.00                88,955.97                      0.00
A-6                            0.00          19,000,000.00               100,066.67                      0.00
A-7                            0.00          37,954,848.98               641,317.75                      0.00
A-8                            0.00          91,377,564.09             2,895,898.27                      0.00
P                              0.00                 100.00                50,994.16                      0.00
R                              0.00                   0.00               168,844.11                      0.00
OC                             0.00           3,683,828.00                     0.00                      0.00
Totals                         0.00         364,520,355.21             7,231,725.20                      0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
Edward M. Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
</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>
A-1                  74,000,000.00      72,999,166.49              0.00     2,286,152.35           0.00            0.00
A-2                  50,000,000.00      50,000,000.00              0.00             0.00           0.00            0.00
A-3                  24,000,000.00      24,000,000.00              0.00             0.00           0.00            0.00
A-4                  52,000,000.00      52,000,000.00              0.00             0.00           0.00            0.00
A-5                  15,791,000.00      15,791,000.00              0.00             0.00           0.00            0.00
A-6                  19,000,000.00      19,000,000.00              0.00             0.00           0.00            0.00
A-7                  38,433,000.00      38,388,866.85              0.00       434,017.87           0.00            0.00
A-8                  94,761,000.00      93,851,800.56              0.00     2,474,236.47           0.00            0.00
P                           100.00             100.00              0.00             0.00           0.00            0.00
R                             0.00               0.00              0.00             0.00           0.00            0.00
OC                    1,934,938.59       2,740,410.37              0.00             0.00           0.00            0.00
Totals              369,920,038.59     368,771,344.27              0.00     5,194,406.69           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>
A-1                           2,286,152.35         70,713,014.14           0.95558127      2,286,152.35
A-2                                   0.00         50,000,000.00           1.00000000              0.00
A-3                                   0.00         24,000,000.00           1.00000000              0.00
A-4                                   0.00         52,000,000.00           1.00000000              0.00
A-5                                   0.00         15,791,000.00           1.00000000              0.00
A-6                                   0.00         19,000,000.00           1.00000000              0.00
A-7                             434,017.87         37,954,848.98           0.98755884        434,017.87
A-8                           2,474,236.47         91,377,564.09           0.96429506      2,474,236.47
P                                     0.00                100.00           1.00000000              0.00
R                                     0.00                  0.00           0.00000000              0.00
OC                                    0.00          3,683,828.00           1.90384750              0.00
Totals                        5,194,406.69        364,520,355.21           0.98540311      5,194,406.69
</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>
A-1                    74,000,000.00        986.47522284         0.00000000         30.89395068        0.00000000
A-2                    50,000,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
A-3                    24,000,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
A-4                    52,000,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
A-5                    15,791,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
A-6                    19,000,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
A-7                    38,433,000.00        998.85168605         0.00000000         11.29284391        0.00000000
A-8                    94,761,000.00        990.40534144         0.00000000         26.11028239        0.00000000
P                             100.00       1000.00000000         0.00000000          0.00000000        0.00000000
R                               0.00          0.00000000         0.00000000          0.00000000        0.00000000
OC                      1,934,938.59       1416.27769696         0.00000000          0.00000000        0.00000000
<FN>
(2) Per $1,000 Denominations
</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>
A-1                     0.00000000         30.89395068            955.58127216          0.95558127        30.89395068
A-2                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
A-3                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
A-4                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
A-5                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
A-6                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
A-7                     0.00000000         11.29284391            987.55884214          0.98755884        11.29284391
A-8                     0.00000000         26.11028239            964.29505904          0.96429506        26.11028239
P                       0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
R                       0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
OC                      0.00000000          0.00000000          1,903.84750143          1.90384750         0.00000000
<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>
A-1                74,000,000.00        5.88000%      72,999,166.49          357,695.92           0.00             0.00
A-2                50,000,000.00        5.92000%      50,000,000.00          246,666.67           0.00             0.00
A-3                24,000,000.00        6.02000%      24,000,000.00          120,400.00           0.00             0.00
A-4                52,000,000.00        6.34000%      52,000,000.00          274,733.33           0.00             0.00
A-5                15,791,000.00        6.76000%      15,791,000.00           88,955.97           0.00             0.00
A-6                19,000,000.00        6.32000%      19,000,000.00          100,066.67           0.00             0.00
A-7                38,433,000.00        6.48000%      38,388,866.85          207,299.88           0.00             0.00
A-8                94,761,000.00        5.21750%      93,851,800.56          421,661.80           0.00             0.00
P                         100.00        0.00000%             100.00                0.00           0.00             0.00
R                           0.00        0.00000%               0.00                0.00           0.00             0.00
OC                  1,934,938.59        0.00000%       2,740,410.37                0.00           0.00             0.00
Totals            369,920,038.59                                           1,817,480.24           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>
 A-1                            0.00                0.00           357,695.92                0.00      70,713,014.14
 A-2                            0.00                0.00           246,666.67                0.00      50,000,000.00
 A-3                            0.00                0.00           120,400.00                0.00      24,000,000.00
 A-4                            0.00                0.00           274,733.33                0.00      52,000,000.00
 A-5                            0.00                0.00            88,955.97                0.00      15,791,000.00
 A-6                            0.00                0.00           100,066.67                0.00      19,000,000.00
 A-7                            0.00                0.00           207,299.88                0.00      37,954,848.98
 A-8                            0.00                0.00           421,661.80                0.00      91,377,564.09
 P                              0.00                0.00            50,994.16                0.00             100.00
 R                              0.00                0.00           168,844.11                0.00               0.00
 OC                             0.00                0.00                 0.00                0.00       3,683,828.00
 Totals                         0.00                0.00         2,037,318.51                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>
A-1                  74,000,000.00        5.88000%         986.47522284        4.83372865        0.00000000        0.00000000
A-2                  50,000,000.00        5.92000%        1000.00000000        4.93333340        0.00000000        0.00000000
A-3                  24,000,000.00        6.02000%        1000.00000000        5.01666667        0.00000000        0.00000000
A-4                  52,000,000.00        6.34000%        1000.00000000        5.28333327        0.00000000        0.00000000
A-5                  15,791,000.00        6.76000%        1000.00000000        5.63333354        0.00000000        0.00000000
A-6                  19,000,000.00        6.32000%        1000.00000000        5.26666684        0.00000000        0.00000000
A-7                  38,433,000.00        6.48000%         998.85168605        5.39379908        0.00000000        0.00000000
A-8                  94,761,000.00        5.21750%         990.40534144        4.44973987        0.00000000        0.00000000
P                           100.00        0.00000%        1000.00000000        0.00000000        0.00000000        0.00000000
R                             0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
OC                    1,934,938.59        0.00000%        1416.27769696        0.00000000        0.00000000        0.00000000
<FN>

</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>
A-1                   0.00000000        0.00000000         4.83372865          0.00000000          955.58127216
A-2                   0.00000000        0.00000000         4.93333340          0.00000000         1000.00000000
A-3                   0.00000000        0.00000000         5.01666667          0.00000000         1000.00000000
A-4                   0.00000000        0.00000000         5.28333327          0.00000000         1000.00000000
A-5                   0.00000000        0.00000000         5.63333354          0.00000000         1000.00000000
A-6                   0.00000000        0.00000000         5.26666684          0.00000000         1000.00000000
A-7                   0.00000000        0.00000000         5.39379908          0.00000000          987.55884214
A-8                   0.00000000        0.00000000         4.44973987          0.00000000          964.29505904
P                     0.00000000        0.00000000    509941.60000000          0.00000000         1000.00000000
R                     0.00000000        0.00000000   422110274999.999          0.00000000            0.00000000
OC                    0.00000000        0.00000000         0.00000000          0.00000000         1903.84750143
<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 Component Statement
                      Component       Beginning            Ending       Beginning            Ending          Ending
                  Pass-Through        Notional          Notional       Component         Component       Component
                          Rate         Balance           Balance         Balance           Balance      Percentage
Class
<S>             <C>             <C>               <C>               <C>               <C>               <C>
       FSA          1,200.00000%        56,469.00          55,649.00             0.00               0.00     98.01155377%
</TABLE>
<TABLE>
<CAPTION>

                                                      CERTIFICATE ACCOUNT

<S>                                                                                   <C>
Beginning Balance                                                                                        0.00
Deposits
    Payments of Interest and Principal                                                           7,439,285.99
    Liquidations, Insurance Proceeds, Reserve Funds                                                      0.00
    Proceeds from Repurchased Loans                                                                      0.00
    Other Amounts (Servicer Advances)                                                                2,562.93
    Realized Losses                                                                                      0.00
Total Deposits                                                                                   7,441,848.92

Withdrawals
    Reimbursement for Servicer Advances                                                                  0.00
    Payment of Service Fee                                                                         153,654.73
    Payment of Interest and Principal                                                            7,288,194.19
Total Withdrawals (Pool Distribution Amount)                                                     7,441,848.92

Ending Balance                                                                                           0.00

</TABLE>
<TABLE>
<CAPTION>

                                            PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<S>                                                                                   <C>

Total Prepayment/Curtailment Interest Shortfall                                                          0.00
Servicing Fee Support                                                                                    0.00
Non-Supported Prepayment/Curtailment Interest Shortfall                                                  0.00
</TABLE>
<TABLE>
<CAPTION>

                                                         SERVICING FEES

<S>                                                                                   <C>
Gross Servicing Fee                                                                                153,466.61
Trustee Fee                                                                                              0.00
Supported Prepayment/Curtailment Interest Shortfall                                                      0.00
Net Servicing Fee                                                                                  153,466.61

</TABLE>
<TABLE>
<CAPTION>
                                                         OTHER ACCOUNTS

                                               Beginning          Current          Current          Ending
Account Type                                     Balance      Withdrawals         Deposits         Balance
<S>                                    <C>                 <C>               <C>              <C>
Financial Guaranty                                    0.00              0.00              0.00             0.00
Financial Guaranty                                    0.00              0.00              0.00             0.00
Financial Guaranty                                    0.00              0.00              0.00             0.00
Reserve Fund                                          0.00              0.00              0.00             0.00
Reserve Fund                                          0.00              0.00              0.00             0.00
Reserve Fund                                          0.00              0.00              0.00             0.00

</TABLE>
<TABLE>
<CAPTION>
                                                       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                                  20      1,996,510.40               0.592417%          0.547709%
60 Days                                   8        876,218.15               0.236967%          0.240376%
90+ Days                                  0              0.00               0.000000%          0.000000%
Foreclosure                               0              0.00               0.000000%          0.000000%
REO                                       0              0.00               0.000000%          0.000000%
Totals                                   28      2,872,728.55               0.829384%          0.788085%
</TABLE>
<TABLE>
<CAPTION>
                                                       OTHER INFORMATION

<S>                                                                             <C>
Current Period Realized Loss - Includes Interest Shortfall                                           0.00
Cumulative Realized Losses - Includes Interest Shortfall                                             0.00
Principal Balance of Contaminated Properties                                                         0.00
Periodic Advance                                                                                 2,562.93
</TABLE>

<TABLE>
<S>     <C>               <C>         <C>                     <C>       <C>              <C>

Class    OC               100.00      0.00002703%             100.00    0.00002743%       1.010596%      0.000000%
Class    P                  0.00      0.00000000%               0.00    0.00000000%       0.000027%      0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>



<TABLE>
<CAPTION>
                              COLLATERAL STATEMENT
<S>                                                                       <C>
Collateral Description                               Fixed Mixed & ARM & Balloon

Weighted Average Gross Coupon                                         9.761490%
Weighted Average Net Coupon                                           9.261490%
Weighted Average Pass-Through Rate                                    0.000000%
Weighted Average Maturity(Stepdown Calculation )                            275
Begin Scheduled Collateral Loan Count                                     2,672

Number Of Loans Paid In Full                                              (704)
End Scheduled Collateral Loan Count                                       3,376
Begining Scheduled Collateral Balance                            284,983,195.34
Ending Scheduled Collateral Balance                              364,520,356.48
Ending Actual Collateral Balance at 31-May-1999                  364,567,656.94
Monthly P &I Constant                                              3,252,450.76
Ending Scheduled Balance for Premium Loans                       364,520,356.48
</TABLE>
<TABLE>
<CAPTION>
           <S>                                        <C>
</TABLE>
 <TABLE>
 <CAPTION>
                                      Group Level Collateral Statement
 <S>                                 <C>
 Group ID                                           1                         2                         3                    Total
 Collateral Description                   Mixed Fixed               Mixed Fixed                 Mixed ARM
 Weighted Average Coupon Rate               10.085528                  9.010896                  9.269918
 Weighted Average Net Rate                   9.585528                  8.510896                  8.769918
 Weighted Average Maturity                     278.00                    298.00                    356.00
 Beginning Loan Count                           2,353                        89                       230                    2,672
 Loans Paid In Full                              (615)                      (29)                      (60)                    (704)
 Ending Loan Count                              2,968                       118                       290                    3,376
 Beginning Scheduled Balance           182,743,126.30             28,894,025.98             73,346,043.06           284,983,195.34
 Ending scheduled Balance              232,543,801.42             38,068,448.35             93,908,106.71           364,520,356.48
 Record Date                                  5/31/99                   5/31/99                   5/31/99
 Principal And Interest Constant         2,150,370.53                311,102.97                790,977.26             3,252,450.76
 Scheduled Principal                       182,105.05                 22,625.25                 51,594.67               256,324.97
 Unscheduled Principal                   1,462,988.02                326,111.65              1,754,102.26             3,543,201.93
 Scheduled Interest                      1,968,265.48                288,477.72                739,382.59             2,996,125.79


 Servicing Fees                             97,578.70                 16,007.16                 39,880.75               153,466.61
 Master Servicing Fees                           0.00                      0.00                      0.00                     0.00
 Trustee Fee                                     0.00                      0.00                      0.00                     0.00
 FRY Amount                                      0.00                      0.00                      0.00                     0.00
 Special Hazard Fee                              0.00                      0.00                      0.00                     0.00
 Other Fee                                       0.00                      0.00                      0.00                     0.00
 Pool Insurance Fee                              0.00                      0.00                      0.00                     0.00
 Spread Fee 1                                    0.00                      0.00                      0.00                     0.00
 Spread Fee 2                                    0.00                      0.00                      0.00                     0.00
 Spread Fee 3                                    0.00                      0.00                      0.00                     0.00
 Net Interest                            1,870,686.78                272,470.56                699,501.84             2,842,659.18
 Realized Loss Amount                            0.00                      0.00                      0.00                     0.00
 Cumulative Realized Loss                        0.00                      0.00                      0.00                     0.00
 Percentage of Cummulative Losses                0.00                      0.00                      0.00                     0.00

 Group ID                                              1                         2                         3                 Total
 Required Overcollateralization Amount      4,108,849.12                672,581.09              4,593,034.11          9,374,464.32
 Overcollateralization Increase Amount              0.00                      0.00                      0.00                  0.00
 Overcollateralization Reduction Amount     1,755,628.46                353,683.75              2,141,675.58          4,250,987.79
 Specified Overcollateralization Amount     4,108,849.12                672,581.09              4,593,034.11          9,374,464.32
 Overcollateralization Amount                 509,162.24                 33,265.13              2,197,981.73          2,740,409.10
 Overcollateralization Deficiency Amount    3,599,686.89                639,315.96              2,395,052.38          6,634,055.22
 Base Overcollateralization Amount          4,108,849.12                672,581.09              4,593,034.11          9,374,464.32
 Extra Principal Distribution Amount          530,523.89                 80,334.12                332,560.89            943,418.90
 Excess Cash Amount                           530,523.89                 80,334.12                332,560.89            943,418.90


 </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         1,391,823.37       311,856.70            0.00           0.00            0.00           0.00
     Percentage Of Balance           0.599%           0.134%          0.000%         0.000%          0.000%         0.000%
     Loan Count                          18                6               0              0               0              0
     Percentage Of Loan Count        0.606%           0.202%          0.000%         0.000%          0.000%         0.000%

  2  Principal Balance           310,702.24       250,130.75            0.00           0.00            0.00           0.00
     Percentage Of Balance           0.816%           0.657%          0.000%         0.000%          0.000%         0.000%
     Loan Count                           1                1               0              0               0              0
     Percentage Of Loan Count        0.847%           0.847%          0.000%         0.000%          0.000%         0.000%

  3  Principal Balance           293,984.79       314,230.70            0.00           0.00            0.00           0.00
     Percentage Of Balance           0.313%           0.335%          0.000%         0.000%          0.000%         0.000%
     Loan Count                           1                1               0              0               0              0
     Percentage Of Loan Count        0.345%           0.345%          0.000%         0.000%          0.000%         0.000%

 Totals
                                  30 Days          60 Days       90 + Days      Foreclosure       REO           Bankruptcy
     Principal Balance         1,996,510.40       876,218.15            0.00           0.00            0.00           0.00
     Percentage Of Balance           0.548%           0.240%          0.000%         0.000%          0.000%         0.000%
     Loan Count                          20                8               0              0               0              0
     Percentage Of Loan Count        0.592%           0.237%          0.000%         0.000%          0.000%         0.000%

 </TABLE>









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