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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): September 27, 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 September 27, 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 September
27, 1999 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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: 10/5/99
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 September
27, 1999 distribution.
<TABLE>
<CAPTION>
Structured Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 8/31/99
Distribution Date: 9/27/99
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% 123,749,613.43 662,060.43 2,124,546.50
A-2 863572B28 SEN 5.63875% 220,198,686.64 1,138,174.89 10,714,404.30
A-3 863572B36 SEN 5.43875% 23,379,362.15 116,558.30 4,703,411.60
A-4 863572B44 SEN 5.66875% 55,420,607.00 287,985.10 0.00
M-1 863572B69 JUN 5.91875% 46,481,105.00 252,184.20 0.00
M-2 863572B77 JUN 6.37875% 29,050,690.00 169,864.83 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% 6,841,129.53 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 Fe SEN 0.00000% 0.00 0.00 0.00
Totals 539,982,021.75 3,188,283.96 17,542,362.40
</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 0.00 121,625,066.93 2,786,606.93 0.00
A-2 0.00 209,484,282.34 11,852,579.19 0.00
A-3 0.00 18,675,950.55 4,819,969.90 0.00
A-4 0.00 55,420,607.00 287,985.10 0.00
M-1 0.00 46,481,105.00 252,184.20 0.00
M-2 0.00 29,050,690.00 169,864.83 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 8,348,566.39 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 0.00 523,947,096.21 20,730,646.36 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-1 135,603,059.00 123,749,613.43 154,438.31 1,970,108.19 0.00 0.00
A-2 244,597,522.00 220,198,686.64 139,862.48 10,574,541.82 0.00 0.00
A-3 35,000,000.00 23,379,362.15 61,258.05 4,642,153.55 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 6,841,129.53 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 Fe 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 581,013,814.69 539,982,021.75 355,558.84 17,186,803.56 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 2,124,546.50 121,625,066.93 0.89691979 2,124,546.50
A-2 10,714,404.30 209,484,282.34 0.85644483 10,714,404.30
A-3 4,703,411.60 18,675,950.55 0.53359859 4,703,411.60
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 8,348,566.39 2,262,484.116531 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
Special Fee 0.00 0.00 0.00000000 0.00
Totals 17,542,362.40 523,947,096.21 0.90178079 17,542,362.40
</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-1 135,603,059.00 912.58718161 1.13889990 14.52849371 0.00000000
A-2 244,597,522.00 900.24904929 0.57180661 43.23241598 0.00000000
A-3 35,000,000.00 667.98177571 1.75023000 132.63295857 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 3964642.27642250 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 Fe 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 15.66739361 896.91978800 0.89691979 15.66739361
A-2 0.00000000 43.80422260 856.44482670 0.85644483 43.80422260
A-3 0.00000000 134.38318857 533.59858714 0.53359859 134.38318857
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 2262484116.53116460 2262484.11653116 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% 123,749,613.43 662,060.43 0.00 0.00
A-2 244,597,522.00 5.63875% 220,198,686.64 1,138,174.90 0.00 0.00
A-3 35,000,000.00 5.43875% 23,379,362.15 116,558.30 0.00 0.00
A-4 55,420,607.00 5.66875% 55,420,607.00 287,985.10 0.00 0.00
M-1 46,481,105.00 5.91875% 46,481,105.00 252,184.20 0.00 0.00
M-2 29,050,690.00 6.37875% 29,050,690.00 169,864.83 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% 6,841,129.53 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 3,188,283.97 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 0.00 662,060.43 0.00 121,625,066.93
A-2 0.00 0.00 1,138,174.89 0.00 209,484,282.34
A-3 0.00 0.00 116,558.30 0.00 18,675,950.55
A-4 0.00 0.00 287,985.10 0.00 55,420,607.00
M-1 0.00 0.00 252,184.20 0.00 46,481,105.00
M-2 0.00 0.00 169,864.83 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 8,348,566.39
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 0.00 0.00 3,188,283.96 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% 912.58718161 4.88234141 0.00000000 0.00000000
A-2 244,597,522.00 5.63875% 900.24904929 4.65325605 0.00000000 0.00000000
A-3 35,000,000.00 5.43875% 667.98177571 3.33023714 0.00000000 0.00000000
A-4 55,420,607.00 5.66875% 1000.00000000 5.19635413 0.00000000 0.00000000
M-1 46,481,105.00 5.91875% 1000.00000000 5.42552076 0.00000000 0.00000000
M-2 29,050,690.00 6.37875% 1000.00000000 5.84718745 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% 53964642.27642250 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 4.88234141 0.00000000 896.91978800
A-2 0.00000000 0.00000000 4.65325601 0.00000000 856.44482670
A-3 0.00000000 0.00000000 3.33023714 0.00000000 533.59858714
A-4 0.00000000 0.00000000 5.19635413 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 5.42552076 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 5.84718745 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 62484116.53116460
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>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 20,962,721.94
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 20,962,721.94
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 232,075.58
Payment of Interest and Principal 20,730,646.36
Total Withdrawals (Pool Distribution Amount) 20,962,721.94
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall -0.01
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 224,992.47
Trustee Fee - First Chicago National Bank of Detroit 333.33
Master Servicing Fee 6,749.78
Special Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 232,075.58
</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> 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 315 25,027,264.55 4.851378% 4.776678%
60 Days 131 9,563,181.69 2.017557% 1.825219%
90+ Days 260 20,798,919.88 4.004312% 3.969660%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 706 55,389,366.12 10.873248% 10.571557%
</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
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 10.271711%
Weighted Average Net Coupon 9.771711%
Weighted Average Pass-Through Rate 9.756709%
Weighted Average Maturity(Stepdown Calculation ) 328
Beginning Scheduled Collateral Loan Count 6,666
Number Of Loans Paid In Full 173
Ending Scheduled Collateral Loan Count 6,493
Beginning Scheduled Collateral Balance 539,982,021.75
Ending Scheduled Collateral Balance 523,947,096.22
Ending Actual Collateral Balance at 31-Aug-1999 524,335,831.51
Monthly P &I Constant 4,977,674.78
Ending Scheduled Balance for Premium Loans 523,947,096.22
Scheduled Principal 355,558.84
Unscheduled Principal 15,679,366.69
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 8,348,566.39
Overcollateralized Deficiency Amount 14,656,381.61
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 1,507,436.86
Excess Cash Amount 1,507,436.86
</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 12.993611 10.192374 9.879476
Weighted Average Net Rate 12.478611 9.677374 9.364476
Weighted Average Maturity 291.00 347.00 327.00
Beginning Loan Count 2,964 3,309 393 6,666
Loans Paid In Full 44 113 16 173
Ending Loan Count 2,920 3,196 377 6,493
Beginning Scheduled Balance 157,556,960.99 281,122,247.08 101,302,813.68 539,982,021.75
Ending scheduled Balance 155,884,881.02 271,187,160.96 96,875,054.24 523,947,096.22
Record Date 8/31/99 8/31/99 8/31/99
Principal And Interest Constant 1,860,466.47 2,527,615.15 895,273.67 5,283,355.29
Scheduled Principal 154,438.31 139,862.48 61,258.05 355,558.84
Unscheduled Principal 1,517,641.66 9,795,223.64 4,366,501.39 15,679,366.69
Scheduled Interest 1,706,028.16 2,387,752.67 834,015.62 4,927,796.45
Servicing Fees 65,648.72 117,134.28 42,209.47 224,992.47
Master Servicing Fees 1,969.47 3,514.04 1,266.29 6,749.80
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 1,638,409.97 2,267,104.35 790,539.86 4,696,054.18
Realized Loss Amount 0.00 0.00 0.00 0.00
Cumulative Realized Loss 0.00 15,235.26 0.00 15,235.26
% 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 6,314,850.60 3,340,479.71 5,622,050.62 0.00 0.00 0.00
Percentage Of Balance 4.051% 2.143% 3.607% 0.000% 0.000% 0.000%
Loan Count 118 60 98 0 0 0
Percentage Of Loans 4.041% 2.055% 3.356% 0.000% 0.000% 0.000%
2 Principal Balance 13,979,995.95 5,647,098.08 11,279,233.77 0.00 0.00 0.00
Percentage Of Balance 5.155% 2.082% 4.159% 0.000% 0.000% 0.000%
Loan Count 183 68 148 0 0 0
Percentage Of Loans 5.726% 2.128% 4.631% 0.000% 0.000% 0.000%
3 Principal Balance 4,732,418.00 575,603.90 3,897,635.49 0.00 0.00 0.00
Percentage Of Balance 4.885% 0.594% 4.023% 0.000% 0.000% 0.000%
Loan Count 14 3 14 0 0 0
Percentage Of Loans 3.714% 0.796% 3.714% 0.000% 0.000% 0.000%
Totals:Principal Balance 25,027,264.55 9,563,181.69 20,798,919.88 0.00 0.00 0.00
Percentage of Balance 4.777% 1.825% 3.970% 0.000% 0.000% 0.000%
Loan Count 315 131 260 0 0 0
Percentage Of Loans 4.851% 2.018% 4.004% 0.000% 0.000% 0.000%
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