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Previous: SMA REAL TIME INC, 8-A12B, 1999-10-07 |
Next: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1999-15 TRUST, 8-K, 1999-10-07 |
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): September 27, 1999
CENTEX HOME EQUITY CORPORATION
Home Equity Loan Asset-Backed Certs., Series 1999-2 Trust
New York (governing law of 333-54027-02 52-2179921
Pooling and Servicing Agreement) (Commission 52-2179922
(State or other File Number) IRS EIN
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 September 27, 1999 a distribution was made to holders of CENTEX HOME
EQUITY CORPORATION, Home Equity Loan Asset-Backed Certs., Series 1999-2
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 Home Equity Loan Asset-Backed Certs.,
Series 1999-2 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.
CENTEX HOME EQUITY CORPORATION
Home Equity Loan Asset-Backed Certs., 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: 10/4/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Home Equity Loan
Asset-Backed Certs., Series 1999-2 Trust, relating to the
September 27, 1999 distribution.
<TABLE>
<CAPTION>
Centex Home Equity Corporation
Mortgage Pass-Through Certificates
Record Date: 8/31/99
Distribution Date: 9/27/99
CHEC Series: 1999-2
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-1 152314BE9 SEN 5.91000% 69,488,424.98 342,230.49 2,205,974.36
A-2 152314BF6 SEN 6.10000% 13,366,000.00 67,943.83 0.00
A-3 152314BG4 SEN 6.26000% 31,185,000.00 162,681.75 0.00
A-4 152314BH2 SEN 6.60000% 29,916,000.00 164,538.00 0.00
A-5 152314BJ8 SEN 7.00000% 19,506,000.00 113,785.00 0.00
A-6 152314BK5 SEN 6.60000% 18,600,000.00 102,300.00 0.00
A-7 152314BL3 SEN 5.58875% 81,073,073.28 415,339.04 1,427,900.84
A-8 152314BM1 SEN 6.04000% 15,000,000.00 75,500.00 0.00
X-IO CTX992XIO IO 0.00000% 0.00 0.00 0.00
OC CTX9902OC SUB 0.00000% 1,717,464.39 0.00 0.00
R-1 CTX9902R1 RES 0.00000% 0.00 0.00 0.00
R-2 CTX9902R2 RES 0.00000% 0.00 0.00 0.00
Totals 279,851,962.65 1,444,318.11 3,633,875.20
</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 67,282,450.61 2,548,204.85 0.00
A-2 0.00 13,366,000.00 67,943.83 0.00
A-3 0.00 31,185,000.00 162,681.75 0.00
A-4 0.00 29,916,000.00 164,538.00 0.00
A-5 0.00 19,506,000.00 113,785.00 0.00
A-6 0.00 18,600,000.00 102,300.00 0.00
A-7 0.00 79,645,172.43 1,843,239.88 0.00
A-8 0.00 15,000,000.00 75,500.00 0.00
X-IO 0.00 0.00 0.00 0.00
OC 0.00 2,716,589.86 0.00 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
Totals 0.00 277,217,212.90 5,078,193.31 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-1 73,427,000.00 69,488,424.98 149,839.94 2,056,134.42 0.00 0.00
A-2 13,366,000.00 13,366,000.00 0.00 0.00 0.00 0.00
A-3 31,185,000.00 31,185,000.00 0.00 0.00 0.00 0.00
A-4 29,916,000.00 29,916,000.00 0.00 0.00 0.00 0.00
A-5 19,506,000.00 19,506,000.00 0.00 0.00 0.00 0.00
A-6 18,600,000.00 18,600,000.00 0.00 0.00 0.00 0.00
A-7 84,000,000.00 81,073,073.28 37,810.91 1,427,900.84 0.00 0.00
A-8 15,000,000.00 15,000,000.00 0.00 0.00 0.00 0.00
X-IO 0.00 0.00 0.00 0.00 0.00 0.00
OC 2,100.59 1,717,464.39 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00 0.00
Totals 285,002,100.59 279,851,962.65 187,650.85 3,484,035.26 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 2,205,974.36 67,282,450.61 0.91631758 2,205,974.36
A-2 0.00 13,366,000.00 1.00000000 0.00
A-3 0.00 31,185,000.00 1.00000000 0.00
A-4 0.00 29,916,000.00 1.00000000 0.00
A-5 0.00 19,506,000.00 1.00000000 0.00
A-6 0.00 18,600,000.00 1.00000000 0.00
A-7 1,427,900.84 79,645,172.43 0.94815681 1,427,900.84
A-8 0.00 15,000,000.00 1.00000000 0.00
X-IO 0.00 0.00 0.00000000 0.00
OC 0.00 2,716,589.86 1,293.25087713 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
Totals 3,633,875.20 277,217,212.90 0.97268481 3,633,875.20
</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 73,427,000.00 946.36067087 2.04066542 28.00242990 0.00000000
A-2 13,366,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 31,185,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4 29,916,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5 19,506,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-6 18,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-7 84,000,000.00 965.15563429 0.45012988 16.99881952 0.00000000
A-8 15,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
X-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
OC 2,100.59 817610.47610433 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
</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 30.04309532 916.31757542 0.91631758 30.04309532
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 16.99881952 948.15681464 0.94815681 16.99881952
A-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
X-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 1,293,250.8771345 1293.25087713 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 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-1 73,427,000.00 5.91000% 69,488,424.98 342,230.49 0.00 0.00
A-2 13,366,000.00 6.10000% 13,366,000.00 67,943.83 0.00 0.00
A-3 31,185,000.00 6.26000% 31,185,000.00 162,681.75 0.00 0.00
A-4 29,916,000.00 6.60000% 29,916,000.00 164,538.00 0.00 0.00
A-5 19,506,000.00 7.00000% 19,506,000.00 113,785.00 0.00 0.00
A-6 18,600,000.00 6.60000% 18,600,000.00 102,300.00 0.00 0.00
A-7 84,000,000.00 5.58875% 81,073,073.28 415,339.04 0.00 0.00
A-8 15,000,000.00 6.04000% 15,000,000.00 75,500.00 0.00 0.00
X-IO 0.00 0.00000% 278,135,991.29 0.00 0.00 0.00
OC 2,100.59 0.00000% 1,717,464.39 0.00 0.00 0.00
R-1 0.00 0.00000% 0.00 0.00 0.00 0.00
R-2 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 285,002,100.59 1,444,318.11 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 0.00 342,230.49 0.00 67,282,450.61
A-2 0.00 0.00 67,943.83 0.00 13,366,000.00
A-3 0.00 0.00 162,681.75 0.00 31,185,000.00
A-4 0.00 0.00 164,538.00 0.00 29,916,000.00
A-5 0.00 0.00 113,785.00 0.00 19,506,000.00
A-6 0.00 0.00 102,300.00 0.00 18,600,000.00
A-7 0.00 0.00 415,339.04 0.00 79,645,172.43
A-8 0.00 0.00 75,500.00 0.00 15,000,000.00
X-IO 0.00 0.00 0.00 0.00 274,501,899.58
OC 0.00 0.00 0.00 0.00 2,716,589.86
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 1,444,318.11 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 73,427,000.00 5.91000% 946.36067087 4.66082626 0.00000000 0.00000000
A-2 13,366,000.00 6.10000% 1000.00000000 5.08333308 0.00000000 0.00000000
A-3 31,185,000.00 6.26000% 1000.00000000 5.21666667 0.00000000 0.00000000
A-4 29,916,000.00 6.60000% 1000.00000000 5.50000000 0.00000000 0.00000000
A-5 19,506,000.00 7.00000% 1000.00000000 5.83333333 0.00000000 0.00000000
A-6 18,600,000.00 6.60000% 1000.00000000 5.50000000 0.00000000 0.00000000
A-7 84,000,000.00 5.58875% 965.15563429 4.94451238 0.00000000 0.00000000
A-8 15,000,000.00 6.04000% 1000.00000000 5.03333333 0.00000000 0.00000000
X-IO 0.00 0.00000% 975.91052019 0.00000000 0.00000000 0.00000000
OC 2,100.59 0.00000% 817610.47610433 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Factors are per $1000 denominations.
</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 4.66082626 0.00000000 916.31757542
A-2 0.00000000 0.00000000 5.08333308 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.21666667 0.00000000 1000.00000000
A-4 0.00000000 0.00000000 5.50000000 0.00000000 1000.00000000
A-5 0.00000000 0.00000000 5.83333333 0.00000000 1000.00000000
A-6 0.00000000 0.00000000 5.50000000 0.00000000 1000.00000000
A-7 0.00000000 0.00000000 4.94451238 0.00000000 948.15681464
A-8 0.00000000 0.00000000 5.03333333 0.00000000 1000.00000000
X-IO 0.00000000 0.00000000 0.00000000 0.00000000 963.15938966
OC 0.00000000 0.00000000 0.00000000 0.00000000 1293250.87713452
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 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>
FSA 1,200.00000% 0.00 0.00 0.00 0.00 0.00000000%
FG_REIMB1 0.00000% 0.00 0.00 0.00 0.00 0.00000000%
FG_REIMB2 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 5,163,384.57
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 71,982.56
Realized Losses 0.00
Total Deposits 5,235,367.13
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 157,173.82
Payment of Interest and Principal 5,078,193.31
Total Withdrawals (Pool Distribution Amount) 5,235,367.13
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 116,605.38
FSA Premium 39,402.39
Trustee Fee - Norwest Bank 1,166.05
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 157,173.82
</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
Reserve Fund 0.00 0.00 0.00 0.00
</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 50 2,778,695.49 1.231831% 1.002353%
60 Days 39 2,776,114.43 0.960828% 1.001422%
90+ Days 6 357,443.96 0.147820% 0.128940%
Foreclosure 22 1,483,414.30 0.542005% 0.535109%
REO 1 21,781.71 0.024637% 0.007857%
Totals 118 7,417,449.89 2.907120% 2.675682%
</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 71,982.56
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed ARM
Weighted Average Gross Coupon 11.151360%
Weighted Average Net Coupon 10.651397%
Weighted Average Pass-Through Rate 10.646397%
Weighted Average Maturity(Stepdown Calculation ) 353
Beginning Scheduled Collateral Loan Count 4,096
Number Of Loans Paid In Full 37
Ending Scheduled Collateral Loan Count 4,059
Beginning Scheduled Collateral Balance 279,851,962.60
Ending Scheduled Collateral Balance 277,217,213.11
Ending Actual Collateral Balance at 31-Aug-1999 277,217,213.11
Monthly P &I Constant 2,788,259.08
Ending Scheduled Balance for Premium Loans 277,217,213.11
Scheduled Principal 187,650.85
Unscheduled Principal 2,447,098.64
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2 Total
Collateral Description Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 11.352553 10.771719
Weighted Average Net Rate 10.848905 10.266719
Weighted Average Maturity 311.00 353.00
Beginning Loan Count 3,097 999 4,096
Loans Paid In Full 28 9 37
Ending Loan Count 3,069 990 4,059
Beginning Scheduled Balance 182,914,788.43 96,937,174.17 279,851,962.60
Ending scheduled Balance 181,383,033.72 95,834,179.39 277,217,213.11
Record Date 8/31/99 8/31/99
Principal And Interest Constant 1,880,298.15 907,960.93 2,788,259.08
Scheduled Principal 149,839.94 37,810.91 187,650.85
Unscheduled Principal 1,381,914.77 1,065,183.87 2,447,098.64
Scheduled Interest 1,730,458.21 870,150.02 2,600,608.23
Servicing Fees 76,214.49 40,390.49 116,604.98
Master Servicing Fees 0.00 0.00 0.00
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 762.14 403.91 1,166.05
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 1,653,481.58 829,355.62 2,482,837.20
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
% of Cumulative Losses 0.00 0.00 0.00
Group ID 1 2 Total
Subordinate Amount 1,527,582.90 1,189,006.96 2,716,589.86
Subordinate Reduction Amount 0.00 0.00 0.00
Required Subordinate Amount 3,720,003.98 4,207,580.82 7,927,584.80
Subordinate Increase Amount 2,866,640.52 3,343,479.93 6,210,120.45
Extra Principal Distribution Amount 674,219.45 324,906.06 999,125.51
Excess Cash Amount 674,219.45 324,906.06 999,125.51
</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 1,999,854.80 2,259,669.26 301,193.96 790,170.62 21,781.71 636,872.24
Percentage Of Balance 1.103% 1.246% 0.166% 0.436% 0.012% 0.351%
Loan Count 39 32 5 13 1 11
Percentage Of Loans 1.271% 1.043% 0.163% 0.424% 0.033% 0.358%
2 Principal Balance 778,840.69 516,445.17 56,250.00 693,243.68 0.00 395,933.63
Percentage Of Balance 0.813% 0.539% 0.059% 0.723% 0.000% 0.413%
Loan Count 11 7 1 9 0 6
Percentage Of Loans 1.111% 0.707% 0.101% 0.909% 0.000% 0.606%
Totals:Principal Balance 2,778,695.49 2,776,114.43 357,443.96 1,483,414.30 21,781.71 1,032,805.87
Percentage of Balance 1.002% 1.001% 0.129% 0.535% 0.008% 0.373%
Loan Count 50 39 6 22 1 17
Percentage Of Loans 1.232% 0.961% 0.148% 0.542% 0.025% 0.419%
</TABLE>
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