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Previous: DSL NET INC, S-1, 1999-06-07 |
Next: DERBY & CO L P, 13F-HR, 1999-06-07 |
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): May 25, 1999
STRUCTURED ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1999-SP1 Trust
New York (governing law of 333-68513-04 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, 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 May 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 May 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: 6/2/99
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 May 25,
1999 distribution.
<TABLE>
<CAPTION>
Structured Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 4/30/99
Distribution Date: 5/25/99
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% 135,603,059.00 725,476.36 2,358,615.15
A-2 863572B28 SEN 5.20250% 244,597,522.00 1,060,432.17 5,834,300.22
A-3 863572B36 SEN 5.00250% 35,000,000.00 145,906.25 2,972,554.67
A-4 863572B44 SEN 5.23250% 55,420,607.00 241,656.94 0.00
M-1 863572B69 JUN 5.48250% 46,481,105.00 212,360.55 0.00
M-2 863572B77 JUN 5.94250% 29,050,690.00 143,861.44 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% 3.69 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
Special Fee SEN 0.00000% 0.00 0.00 0.00
Totals 581,013,814.69 3,091,149.92 11,165,470.04
</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 0.00 133,244,443.85 3,084,091.51 0.00
A-2 0.00 238,763,221.78 6,894,732.39 0.00
A-3 0.00 32,027,445.33 3,118,460.92 0.00
A-4 0.00 55,420,607.00 241,656.94 0.00
M-1 0.00 46,481,105.00 212,360.55 0.00
M-2 0.00 29,050,690.00 143,861.44 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 1,628,041.26 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
Special Fee 0.00 0.00 0.00 0.00
Totals 0.00 571,476,382.22 14,256,619.96 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-IO 0.00 0.00 0.00 0.00 0.00 0.00
A-1 135,603,059.00 135,603,059.00 153,669.24 2,204,945.91 0.00 0.00
A-2 244,597,522.00 244,597,522.00 143,170.09 5,691,130.13 0.00 0.00
A-3 35,000,000.00 35,000,000.00 64,255.22 2,908,299.45 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 3.69 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
Special Fee 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
Totals 581,013,814.69 581,013,814.69 361,094.55 10,804,375.49 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 2,358,615.15 133,244,443.85 0.98260648 2,358,615.15
A-2 5,834,300.22 238,763,221.78 0.97614735 5,834,300.22
A-3 2,972,554.67 32,027,445.33 0.91506987 2,972,554.67
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 1,628,041.26 441,203.59349593 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
Special Fee 0.00 0.00 0.00000000 0.00
0.00 0.00 0.00000000 0.00
Totals 11,165,470.04 571,476,382.22 0.98358484 11,165,470.04
</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 1000.00000000 1.13322842 16.26029624 0.00000000
A-2 244,597,522.00 1000.00000000 0.58532927 23.26732537 0.00000000
A-3 35,000,000.00 1000.00000000 1.83586343 83.09427000 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 1000.00000000 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
Special Fee 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 17.39352465 982.60647535 0.98260648 17.39352465
A-2 0.00000000 23.85265465 976.14734535 0.97614735 23.85265465
A-3 0.00000000 84.93013343 915.06986657 0.91506987 84.93013343
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 441,203,593.49593 441203.59349593 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
Special Fee 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% 135,603,059.00 725,476.37 0.00 0.00
A-2 244,597,522.00 5.20250% 244,597,522.00 1,060,432.17 0.00 0.00
A-3 35,000,000.00 5.00250% 35,000,000.00 145,906.25 0.00 0.00
A-4 55,420,607.00 5.23250% 55,420,607.00 241,656.94 0.00 0.00
M-1 46,481,105.00 5.48250% 46,481,105.00 212,360.55 0.00 0.00
M-2 29,050,690.00 5.94250% 29,050,690.00 143,861.44 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% 3.69 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
Special Fee 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 581,013,814.69 3,091,149.93 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 0.00 725,476.36 0.00 133,244,443.85
A-2 0.01 0.00 1,060,432.17 0.00 238,763,221.78
A-3 0.00 0.00 145,906.25 0.00 32,027,445.33
A-4 0.00 0.00 241,656.94 0.00 55,420,607.00
M-1 0.00 0.00 212,360.55 0.00 46,481,105.00
M-2 0.00 0.00 143,861.44 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 1,628,041.26
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
Special Fee 0.00 0.00 0.00 0.00 0.00
Totals 0.01 0.00 3,091,149.92 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% 1000.00000000 5.35000003 0.00000000 0.00000000
A-2 244,597,522.00 5.20250% 1000.00000000 4.33541665 0.00000000 0.00000000
A-3 35,000,000.00 5.00250% 1000.00000000 4.16875000 0.00000000 0.00000000
A-4 55,420,607.00 5.23250% 1000.00000000 4.36041669 0.00000000 0.00000000
M-1 46,481,105.00 5.48250% 1000.00000000 4.56875003 0.00000000 0.00000000
M-2 29,050,690.00 5.94250% 1000.00000000 4.95208341 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% 1000.00000000 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
Special Fee 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 5.34999996 0.00000000 982.60647535
A-2 0.00000004 0.00000000 4.33541665 0.00000000 976.14734535
A-3 0.00000000 0.00000000 4.16875000 0.00000000 915.06986657
A-4 0.00000000 0.00000000 4.36041669 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 4.56875003 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 4.95208341 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 441203593.49593496
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
Special Fee 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>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 14,506,305.54
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 14,506,305.54
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 249,685.58
Payment of Interest and Principal 14,256,619.96
Total Withdrawals (Pool Distribution Amount) 14,506,305.54
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 242,088.66
Trustee Fee 333.33
Master Servicing Fee 7,263.59
Special Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 249,685.58
</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>
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 273 21,738,338.00 3.891106% 3.803891%
60 Days 114 9,137,728.38 1.624857% 1.598969%
90+ Days 6 382,565.72 0.085519% 0.066943%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 393 31,258,632.10 5.601482% 5.469803%
</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 0.00
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed ARM
Weighted Average Gross Coupon 10.261799%
Weighted Average Net Coupon 9.761800%
Weighted Average Pass-Through Rate 9.746798%
Weighted Average Maturity(Stepdown Calculation ) 332
Begin Scheduled Collateral Loan Count 7,104
Number Of Loans Paid In Full 88
End Scheduled Collateral Loan Count 7,016
Begining Scheduled Collateral Balance 581,013,814.69
Ending Scheduled Collateral Balance 571,476,382.22
Ending Actual Collateral Balance at 30-Apr-1999 571,802,658.52
Monthly P &I Constant 5,329,633.81
Ending Scheduled Balance for Premium Loans 571,476,382.22
Scheduled Principal 361,094.55
Unscheduled Principal 9,176,337.92
Required Overcollateralization Amount 0.00
Overcollateralization Increase Amount 0.00
Overcollateralization reduction Amount 0.00
Specified O/C Amount 21,497,511.14
Overcollateralized Amount 1,628,041.26
Overcollateralized Deficiency Amount 21,497,507.45
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 1,628,037.57
Excess Cash Amount 1,628,037.57
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2 3
Collateral Description Mixed ARM 6 Month LIBOR ARM 6 Month LIBOR ARM
Weighted Average Coupon Rate 10.700020 10.167774 9.858951
Weighted Average Net Rate 10.185020 9.652774 9.343951
Weighted Average Maturity 295.00 351.00 331.00
Beginning Loan Count 3,136 3,526 442
Loans Paid In Full 34 45 9
Ending Loan Count 3,102 3,481 433
Beginning Scheduled Balance 167,411,185.04 301,972,249.45 111,630,380.20
Ending scheduled Balance 165,524,708.89 296,983,983.96 108,967,689.37
Record Date 4/30/99 4/30/99 4/30/99
Principal And Interest Constant 1,646,421.77 2,701,824.78 981,387.26
Scheduled Principal 153,669.24 143,170.09 64,255.22
Unscheduled Principal 1,732,806.91 4,845,095.40 2,598,435.61
Scheduled Interest 1,492,752.53 2,558,654.69 917,132.04
Servicing Fees 69,754.48 125,821.75 46,512.68
Master Servicing Fees 2,092.92 3,774.63 1,395.36
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
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 1,420,905.23 2,429,058.31 869,224.00
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 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 5,696,007.43 2,903,798.17 149,986.57 0.00 0.00 0.00
Percentage Of Balance 3.441% 1.754% 0.091% 0.000% 0.000% 0.000%
Loan Count 107 46 3 0 0 0
Percentage Of Loans 3.449% 1.483% 0.097% 0.000% 0.000% 0.000%
2 Principal Balance 11,610,814.15 4,411,553.57 232,579.15 0.00 0.00 0.00
Percentage Of Balance 3.910% 1.485% 0.078% 0.000% 0.000% 0.000%
Loan Count 148 62 3 0 0 0
Percentage Of Loans 4.252% 1.781% 0.086% 0.000% 0.000% 0.000%
3 Principal Balance 4,431,516.42 1,822,376.64 0.00 0.00 0.00 0.00
Percentage Of Balance 4.067% 1.672% 0.000% 0.000% 0.000% 0.000%
Loan Count 18 6 0 0 0 0
Percentage Of Loans 4.157% 1.386% 0.000% 0.000% 0.000% 0.000%
</TABLE>
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