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Previous: ANALYTIC INVESTORS INC/CA, 13F-HR, 1999-08-05 |
Next: OPPENHEIMER TRINITY GROWTH FUND, N-1A/A, 1999-08-05 |
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): July 26, 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 July 26, 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 July 26,
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: 7/28/99
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 July 26,
1999 distribution.
<TABLE>
<CAPTION>
Structured Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 6/30/99
Distribution Date: 7/26/99
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% 131,319,795.77 702,560.91 3,398,308.94
A-2 863572B28 SEN 5.39250% 233,712,833.74 1,085,255.28 5,956,828.75
A-3 863572B36 SEN 5.19250% 30,268,725.46 135,341.14 3,408,171.30
A-4 863572B44 SEN 5.42250% 55,420,607.00 258,779.59 0.00
M-1 863572B69 JUN 5.67250% 46,481,105.00 227,044.06 0.00
M-2 863572B77 JUN 6.13250% 29,050,690.00 153,409.83 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% 3,163,784.24 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 564,278,369.21 3,123,847.02 12,763,308.99
</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 0.00 127,921,486.83 4,100,869.85 0.00
A-2 0.00 227,756,004.99 7,042,084.03 0.00
A-3 0.00 26,860,554.16 3,543,512.44 0.00
A-4 0.00 55,420,607.00 258,779.59 0.00
M-1 0.00 46,481,105.00 227,044.06 0.00
M-2 0.00 29,050,690.00 153,409.83 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 5,159,908.26 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 0.00 553,511,184.24 15,887,156.01 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-1 135,603,059.00 131,319,795.77 156,413.71 3,241,895.23 0.00 0.00
A-2 244,597,522.00 233,712,833.74 141,513.00 5,815,315.75 0.00 0.00
A-3 35,000,000.00 30,268,725.46 63,334.54 3,344,836.76 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 3,163,784.24 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 581,013,814.69 564,278,369.21 361,261.25 12,402,047.74 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 3,398,308.94 127,921,486.83 0.94335252 3,398,308.94
A-2 5,956,828.75 227,756,004.99 0.93114600 5,956,828.75
A-3 3,408,171.30 26,860,554.16 0.76744440 3,408,171.30
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 5,159,908.26 1,398,349.121951 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 12,763,308.99 553,511,184.24 0.95266441 12,763,308.99
</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-1 135,603,059.00 968.41322562 1.15346742 23.90724261 0.00000000
A-2 244,597,522.00 955.49959717 0.57855451 23.77503951 0.00000000
A-3 35,000,000.00 864.82072743 1.80955829 95.56676457 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 857394102.981029 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 25.06071002 943.35251559 0.94335252 25.06071002
A-2 0.00000000 24.35359402 931.14600315 0.93114600 24.35359402
A-3 0.00000000 97.37632286 767.44440457 0.76744440 97.37632286
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 1,398,349,121.951 1398349.12195122 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% 131,319,795.77 702,560.91 0.00 0.00
A-2 244,597,522.00 5.39250% 233,712,833.74 1,085,255.28 0.00 0.00
A-3 35,000,000.00 5.19250% 30,268,725.46 135,341.14 0.00 0.00
A-4 55,420,607.00 5.42250% 55,420,607.00 258,779.60 0.00 0.00
M-1 46,481,105.00 5.67250% 46,481,105.00 227,044.06 0.00 0.00
M-2 29,050,690.00 6.13250% 29,050,690.00 153,409.83 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% 3,163,784.24 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 3,123,847.03 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 0.00 702,560.91 0.00 127,921,486.83
A-2 0.00 0.00 1,085,255.28 0.00 227,756,004.99
A-3 0.00 0.00 135,341.14 0.00 26,860,554.16
A-4 0.00 0.00 258,779.59 0.00 55,420,607.00
M-1 0.00 0.00 227,044.06 0.00 46,481,105.00
M-2 0.00 0.00 153,409.83 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 5,159,908.26
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 0.00 0.00 3,123,847.02 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% 968.41322562 5.18101078 0.00000000 0.00000000
A-2 244,597,522.00 5.39250% 955.49959717 4.43690219 0.00000000 0.00000000
A-3 35,000,000.00 5.19250% 864.82072743 3.86688971 0.00000000 0.00000000
A-4 55,420,607.00 5.42250% 1000.00000000 4.66937506 0.00000000 0.00000000
M-1 46,481,105.00 5.67250% 1000.00000000 4.88465281 0.00000000 0.00000000
M-2 29,050,690.00 6.13250% 1000.00000000 5.28076373 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% 857394102.9810298 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 5.18101078 0.00000000 943.35251559
A-2 0.00000000 0.00000000 4.43690219 0.00000000 931.14600315
A-3 0.00000000 0.00000000 3.86688971 0.00000000 767.44440457
A-4 0.00000000 0.00000000 4.66937488 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 4.88465281 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 5.28076373 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 1398349121.9512196
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
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 16,129,659.99
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 16,129,659.99
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 242,503.98
Payment of Interest and Principal 15,887,156.01
Total Withdrawals (Pool Distribution Amount) 16,129,659.99
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 235,116.05
Trustee Fee - First Chicago National Bank of Detroit 333.33
Master Servicing Fee 7,054.60
Special Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 242,503.98
</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>
Certificate Deliquency/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 388 28,657,162.11 5.700852% 5.177341%
60 Days 50 4,077,570.61 0.734646% 0.736674%
90+ Days 116 9,305,533.98 1.704378% 1.681183%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 554 42,040,266.70 8.139877% 7.595197%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds
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 10.259174%
Weighted Average Net Coupon 9.759174%
Weighted Average Pass-Through Rate 9.744171%
Weighted Average Maturity(Stepdown Calculation ) 330
Beginning Scheduled Collateral Loan Count 6,932
Number Of Loans Paid In Full 126
Ending Scheduled Collateral Loan Count 6,806
Begining Scheduled Collateral Balance 564,278,369.20
Ending Scheduled Collateral Balance 553,511,184.24
Ending Actual Collateral Balance at 30-Jun-1999 553,864,736.78
Monthly P &I Constant 5,185,217.01
Ending Scheduled Balance for Premium Loans 553,511,184.24
Scheduled Principal 361,261.25
Unscheduled Principal 10,405,923.71
Required Overcollateralized Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 21,497,511.14
Overcollateralized Amount 5,160,576.10
Overcollateralized Deficiency Amount 18,333,726.90
Base Overcollateralization Amount 0.00
Extra principal distribution Amount 1,996,791.86
Excess Cash Amount 1,996,791.86
</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 10.680357 10.169634 9.860265
Weighted Average Net Rate 10.165357 9.654634 9.345265
Weighted Average Maturity 293.00 349.00 329.00
Beginning Loan Count 3,074 3,432 426
Loans Paid In Full 53 56 17
Ending Loan Count 3,021 3,376 409
Beginning Scheduled Balance 164,047,506.17 292,729,924.64 107,500,938.39
Ending scheduled Balance 161,232,236.64 287,811,160.17 104,467,787.43
Record Date 6/30/99 6/30/99 6/30/99
Principal And Interest Constant 1,616,485.33 2,622,073.98 946,657.70
Scheduled Principal 156,413.71 141,513.13 63,334.54
Unscheduled Principal 2,658,855.82 4,777,251.47 2,969,816.42
Scheduled Interest 1,460,071.62 2,480,796.85 883,323.16
Servicing Fees 68,353.13 121,970.81 44,792.07
Master Servicing Fees 2,050.61 3,659.12 1,343.77
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 1,389,667.88 2,355,166.92 837,187.32
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Group ID 1 2 3
Required Overcollateralization Amount 0.00 0.00 0.00
Overcollateralization Increase Amount 0.00 0.00 0.00
Overcollateralization Reduction Amount 0.00 0.00 0.00
Specified Overcollateralization Amount 0.00 0.00 0.00
Overcollateralization Amount 0.00 0.00 0.00
Overcollateralization Deficiency Amount 0.00 0.00 0.00
Base Overcollateralization Amount 0.00 0.00 0.00
Extra Principal Distribution Amount 0.00 0.00 0.00
Excess Cash Amount 0.00 0.00 0.00
Percentage of Cummulative Losses 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement (CONT)
<S> <C>
Group ID Total
Beginning Loan Count 6,932
Loans Paid In Full 126
Ending Loan Count 6,806
Beginning Scheduled Balance 564,278,369.20
Ending scheduled Balance 553,511,184.24
Principal And Interest Constant 5,185,217.01
Scheduled Principal 361,261.38
Unscheduled Principal 10,405,923.71
Scheduled Interest 4,824,191.63
Servicing Fees 235,116.01
Master Servicing Fees 7,053.50
Trustee Fee 0.00
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 0.00
Pool Insurance Fee 0.00
Spread Fee 1 0.00
Spread Fee 2 0.00
Spread Fee 3 0.00
Net Interest 4,582,022.12
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cummulative Losses 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 7,297,961.28 1,681,470.04 2,268,118.00 0.00 0.00 0.00
Percentage Of Balance 4.526% 1.043% 1.407% 0.000% 0.000% 0.000%
Loan Count 143 30 41 0 0 0
Percentage Of Loans 4.734% 0.993% 1.357% 0.000% 0.000% 0.000%
2 Principal Balance 17,128,856.05 1,414,139.17 4,970,203.74 0.00 0.00 0.00
Percentage Of Balance 5.951% 0.491% 1.727% 0.000% 0.000% 0.000%
Loan Count 230 16 68 0 0 0
Percentage Of Loans 6.813% 0.474% 2.014% 0.000% 0.000% 0.000%
3 Principal Balance 4,230,344.78 981,961.40 2,067,212.24 0.00 0.00 0.00
Percentage Of Balance 4.049% 0.940% 1.979% 0.000% 0.000% 0.000%
Loan Count 15 4 7 0 0 0
Percentage Of Loans 3.667% 0.978% 1.711% 0.000% 0.000% 0.000%
Total
Principal Balance 28,657,162.11 4,077,570.61 9,305,533.98 0.00 0.00 0.00
Percentage Of Balance 5.177% 0.737% 1.681% 0.000% 0.000% 0.000%
Loan Count 388 50 116 0 0 0
Percentage Of Loans 5.701% 0.735% 1.704% 0.000% 0.000% 0.000%
</TABLE>
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