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Previous: PREMIER AUTO TRUST 1999-2, 10-Q, 1999-11-08 |
Next: GALIC OF NEW YORK SEPARATE ACCOUNT I, N-4/A, 1999-11-08 |
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): October 25, 1999
STRUCTURED ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1999-SP1 Trust
New York (governing law of 333-68513-04 52-2183749
Pooling and Servicing Agreement) (Commission 52-2183750
(State or other File Number) 52-2183751
jurisdiction 52-2183753
52-2183754
IRS EIN
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 October 25, 1999 a distribution was made to holders of STRUCTURED ASSET
SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1999-SP1
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-SP1 Trust, relating to the October 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.
STRUCTURED ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1999-SP1 Trust
By: The First National Bank of Chicago, as Trustee
By: /s/ Barbara Grosse, Vice President
By: Barbara Grosse, Vice President
Date: 11/2/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1999-SP1 Trust, relating to the October
25, 1999 distribution.
<TABLE>
<CAPTION>
Structured Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 9/30/99
Distribution Date: 10/25/99
SASC Series: 1999-SP1
Contact: Customer Service - Columbia, MD
Norwest Bank Minnesota, N.A.
Securities Administration Services
11000 Broken Land Parkway
Columbia, MD 21044
Telephone: (301) 815-6600
Fax: (410) 884-2369
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-IO 863572B51 IO 4.00000% 0.00 300,000.00 0.00
A-1 863572A94 SEN 6.42000% 121,625,066.93 650,694.11 2,388,458.87
A-2 863572B28 SEN 5.68250% 209,484,282.34 925,862.34 4,700,064.69
A-3 863572B36 SEN 5.48250% 18,675,950.55 79,637.37 1,956,867.42
A-4 863572B44 SEN 5.71250% 55,420,607.00 246,236.84 0.00
M-1 863572B69 JUN 5.96250% 46,481,105.00 215,556.12 0.00
M-2 863572B77 JUN 6.42250% 29,050,690.00 145,116.27 0.00
B 863572B85 JUN 9.00000% 34,860,828.00 261,456.21 0.00
X 863572B93 JUN 0.00000% 0.00 0.00 0.00
OC SAC9901OC OC 0.00000% 8,348,566.39 0.00 0.00
R-I SAC9901R1 SEN 0.00000% 0.00 0.00 0.00
R-II SAC9901R2 SEN 0.00000% 0.00 0.00 0.00
R-III SAC9901R3 SEN 0.00000% 0.00 0.00 0.00
R-IV SAC9901R4 SEN 0.00000% 0.00 0.00 0.00
R-V SAC9901R5 SEN 0.00000% 0.00 0.00 0.00
Totals 523,947,096.21 2,824,559.26 9,045,390.98
</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-IO 0.00 0.00 300,000.00 0.00
A-1 0.00 119,236,608.06 3,039,152.98 0.00
A-2 0.00 204,784,217.65 5,625,927.03 0.00
A-3 0.00 16,719,083.13 2,036,504.79 0.00
A-4 0.00 55,420,607.00 246,236.84 0.00
M-1 0.00 46,481,105.00 215,556.12 0.00
M-2 0.00 29,050,690.00 145,116.27 0.00
B 0.00 34,860,828.00 261,456.21 0.00
X 0.00 0.00 0.00 0.00
OC 0.00 9,730,957.37 0.00 0.00
R-I 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00
R-V 0.00 0.00 0.00 0.00
Totals 0.00 516,284,096.21 11,869,950.24 0.00
<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>
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
A-1 135,603,059.00 121,625,066.93 153,472.43 2,234,986.44 0.00 0.00
A-2 244,597,522.00 209,484,282.34 135,246.02 4,564,818.67 0.00 0.00
A-3 35,000,000.00 18,675,950.55 59,344.00 1,897,523.42 0.00 0.00
A-4 55,420,607.00 55,420,607.00 0.00 0.00 0.00 0.00
M-1 46,481,105.00 46,481,105.00 0.00 0.00 0.00 0.00
M-2 29,050,690.00 29,050,690.00 0.00 0.00 0.00 0.00
B 34,860,828.00 34,860,828.00 0.00 0.00 0.00 0.00
X 0.00 0.00 0.00 0.00 0.00 0.00
OC 3.69 8,348,566.39 0.00 0.00 0.00 0.00
R-I 0.00 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00 0.00 0.00
R-V 0.00 0.00 0.00 0.00 0.00 0.00
Totals 581,013,814.69 523,947,096.21 348,062.45 8,697,328.53 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-IO 0.00 0.00 0.00000000 0.00
A-1 2,388,458.87 119,236,608.06 0.87930618 2,388,458.87
A-2 4,700,064.69 204,784,217.65 0.83722932 4,700,064.69
A-3 1,956,867.42 16,719,083.13 0.47768809 1,956,867.42
A-4 0.00 55,420,607.00 1.00000000 0.00
M-1 0.00 46,481,105.00 1.00000000 0.00
M-2 0.00 29,050,690.00 1.00000000 0.00
B 0.00 34,860,828.00 1.00000000 0.00
X 0.00 0.00 0.00000000 0.00
OC 0.00 9,730,957.37 2,637,115.818428 0.00
R-I 0.00 0.00 0.00000000 0.00
R-II 0.00 0.00 0.00000000 0.00
R-III 0.00 0.00 0.00000000 0.00
R-IV 0.00 0.00 0.00000000 0.00
R-V 0.00 0.00 0.00000000 0.00
Totals 9,045,390.98 516,284,096.21 0.88859177 9,045,390.98
</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-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1 135,603,059.00 896.91978800 1.13177705 16.48182907 0.00000000
A-2 244,597,522.00 856.44482670 0.55293291 18.66257120 0.00000000
A-3 35,000,000.00 533.59858714 1.69554286 54.21495486 0.00000000
A-4 55,420,607.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 46,481,105.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 29,050,690.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 34,860,828.00 1000.00000000 0.00000000 0.00000000 0.00000000
X 0.00 0.00000000 0.00000000 0.00000000 0.00000000
OC 3.69 2262484116.53116 0.00000000 0.00000000 0.00000000
R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-V 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
2) Per $1000 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>
A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 17.61360612 879.30618188 0.87930618 17.61360612
A-2 0.00000000 19.21550411 837.22932258 0.83722932 19.21550411
A-3 0.00000000 55.91049771 477.68808943 0.47768809 55.91049771
A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 2,637,115,818.428 2637115.81842818 0.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-V 0.00000000 0.00000000 0.00000000 0.00000000 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-IO 0.00 4.00000% 90,000,000.00 300,000.00 0.00 0.00
A-1 135,603,059.00 6.42000% 121,625,066.93 650,694.11 0.00 0.00
A-2 244,597,522.00 5.68250% 209,484,282.34 925,862.34 0.00 0.00
A-3 35,000,000.00 5.48250% 18,675,950.55 79,637.37 0.00 0.00
A-4 55,420,607.00 5.71250% 55,420,607.00 246,236.84 0.00 0.00
M-1 46,481,105.00 5.96250% 46,481,105.00 215,556.12 0.00 0.00
M-2 29,050,690.00 6.42250% 29,050,690.00 145,116.27 0.00 0.00
B 34,860,828.00 9.00000% 34,860,828.00 261,456.21 0.00 0.00
X 0.00 0.00000% 0.00 0.00 0.00 0.00
OC 3.69 0.00000% 8,348,566.39 0.00 0.00 0.00
R-I 0.00 0.00000% 0.00 0.00 0.00 0.00
R-II 0.00 0.00000% 0.00 0.00 0.00 0.00
R-III 0.00 0.00000% 0.00 0.00 0.00 0.00
R-IV 0.00 0.00000% 0.00 0.00 0.00 0.00
R-V 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 581,013,814.69 2,824,559.26 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-IO 0.00 0.00 300,000.00 0.00 90,000,000.00
A-1 0.00 0.00 650,694.11 0.00 119,236,608.06
A-2 0.00 0.00 925,862.34 0.00 204,784,217.65
A-3 0.00 0.00 79,637.37 0.00 16,719,083.13
A-4 0.00 0.00 246,236.84 0.00 55,420,607.00
M-1 0.00 0.00 215,556.12 0.00 46,481,105.00
M-2 0.00 0.00 145,116.27 0.00 29,050,690.00
B 0.00 0.00 261,456.21 0.00 34,860,828.00
X 0.00 0.00 0.00 0.00 0.00
OC 0.00 0.00 0.00 0.00 9,730,957.37
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00 0.00
R-V 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 2,824,559.26 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-IO 0.00 4.00000% 1000.00000000 3.33333333 0.00000000 0.00000000
A-1 135,603,059.00 6.42000% 896.91978800 4.79852088 0.00000000 0.00000000
A-2 244,597,522.00 5.68250% 856.44482670 3.78524824 0.00000000 0.00000000
A-3 35,000,000.00 5.48250% 533.59858714 2.27535343 0.00000000 0.00000000
A-4 55,420,607.00 5.71250% 1000.00000000 4.44305563 0.00000000 0.00000000
M-1 46,481,105.00 5.96250% 1000.00000000 4.63749990 0.00000000 0.00000000
M-2 29,050,690.00 6.42250% 1000.00000000 4.99527791 0.00000000 0.00000000
B 34,860,828.00 9.00000% 1000.00000000 7.50000000 0.00000000 0.00000000
X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
OC 3.69 0.00000% 2262484116.5311640 0.00000000 0.00000000 0.00000000
R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-V 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
2) Per $1000 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>
A-IO 0.00000000 0.00000000 3.33333333 0.00000000 1000.00000000
A-1 0.00000000 0.00000000 4.79852088 0.00000000 879.30618188
A-2 0.00000000 0.00000000 3.78524824 0.00000000 837.22932258
A-3 0.00000000 0.00000000 2.27535343 0.00000000 477.68808943
A-4 0.00000000 0.00000000 4.44305563 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 4.63749990 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 4.99527791 0.00000000 1000.00000000
B 0.00000000 0.00000000 7.50000000 0.00000000 1000.00000000
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 2637115818.42818450
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-V 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<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>
SEN 0.00000% 0.00 0.00 0.00 0.00 0.00000000%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 12,152,678.79
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 12,152,678.79
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 282,728.55
Payment of Interest and Principal 11,869,950.24
Total Withdrawals (Pool Distribution Amount) 12,152,678.79
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 218,310.80
Trustee Fee - First Chicago National Bank of Detroit 333.33
Master Servicing Fee 6,549.97
Special Servicing Fee 57,534.45
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 282,728.55
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Reserve Fund 1,000.00 0.00 0.00 1,000.00
</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 404 31,403,844.36 6.310528% 6.082667%
60 Days 181 14,294,034.05 2.827241% 2.768637%
90+ Days 323 25,419,361.19 5.045298% 4.923522%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 908 71,117,239.60 14.183068% 13.774827%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 15,235.26
Principal Balance of Contaminated Properties 0.00
Current Period Class A Insufficient Funds 0.00
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed ARM
Weighted Average Gross Coupon 10.280142%
Weighted Average Net Coupon 9.780143%
Weighted Average Pass-Through Rate 9.765141%
Weighted Average Maturity(Stepdown Calculation ) 327
Beginning Scheduled Collateral Loan Count 6,493
Number Of Loans Paid In Full 91
Ending Scheduled Collateral Loan Count 6,402
Beginning Scheduled Collateral Balance 523,947,096.22
Ending Scheduled Collateral Balance 516,284,096.22
Ending Actual Collateral Balance at 30-Sep-1999 516,750,998.87
Monthly P &I Constant 4,837,741.08
Ending Scheduled Balance for Premium Loans 516,284,096.22
Scheduled Principal 348,062.45
Unscheduled Principal 7,314,937.55
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 21,497,511.14
Overcollateralized Amount 9,730,957.37
Overcollateralized Deficiency Amount 13,148,944.75
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 1,382,390.98
Excess Cash Amount 1,382,390.98
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2 3 Total
Collateral Description Mixed ARM 6 Month LIBOR ARM 6 Month LIBOR ARM
Weighted Average Coupon Rate 10.662686 10.203203 9.894035
Weighted Average Net Rate 10.147686 9.688203 9.379035
Weighted Average Maturity 291.00 348.00 328.00
Beginning Loan Count 2,920 3,196 377 6,493
Loans Paid In Full 35 46 10 91
Ending Loan Count 2,885 3,150 367 6,402
Beginning Scheduled Balance 155,884,881.02 271,187,160.96 96,875,054.24 523,947,096.22
Ending scheduled Balance 153,912,494.94 267,201,685.04 95,169,916.24 516,284,096.22
Record Date 9/30/99 9/30/99 9/30/99
Principal And Interest Constant 1,538,598.70 2,441,060.75 858,081.63 4,837,741.08
Scheduled Principal 153,472.43 135,246.02 59,344.00 348,062.45
Unscheduled Principal 1,818,913.65 3,850,229.90 1,645,794.00 7,314,937.55
Scheduled Interest 1,385,126.27 2,305,814.73 798,737.63 4,489,678.63
Servicing Fees 64,952.04 112,994.65 40,364.60 218,311.29
Master Servicing Fee 1,948.57 3,389.82 1,210.94 6,549.33
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 1,318,225.66 2,189,430.26 757,162.09 4,264,818.01
Realized Loss Amount 0.00 0.00 0.00 0.00
Cumulative Realized Loss 0.00 15,235.26 0.00 15,235.26
Percentage of Cumulative Losses 0.00 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 8,429,279.27 3,078,529.19 7,162,765.05 0.00 0.00 0.00
Percentage Of Balance 5.477% 2.000% 4.654% 0.000% 0.000% 0.000%
Loan Count 170 59 127 0 0 0
Percentage Of Loans 5.893% 2.045% 4.402% 0.000% 0.000% 0.000%
2 Principal Balance 17,217,314.73 8,376,957.73 13,881,082.77 0.00 0.00 0.00
Percentage Of Balance 6.444% 3.135% 5.195% 0.000% 0.000% 0.000%
Loan Count 215 113 181 0 0 0
Percentage Of Loans 6.825% 3.587% 5.746% 0.000% 0.000% 0.000%
3 Principal Balance 5,757,250.36 2,838,547.13 4,375,513.37 0.00 0.00 0.00
Percentage Of Balance 6.049% 2.983% 4.598% 0.000% 0.000% 0.000%
Loan Count 19 9 15 0 0 0
Percentage Of Loans 5.177% 2.452% 4.087% 0.000% 0.000% 0.000%
Totals:Principal Balance 31,403,844.36 14,294,034.05 25,419,361.19 0.00 0.00 0.00
Percentage of Balance 6.083% 2.769% 4.924% 0.000% 0.000% 0.000%
Loan Count 404 181 323 0 0 0
Percentage Of Loans 6.311% 2.827% 5.045% 0.000% 0.000% 0.000%
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