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Previous: DELTATHREE COM INC, S-1, 1999-09-03 |
Next: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1999-15 TRUST, 8-K, 1999-09-03 |
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): August 25, 1999
CENTEX HOME EQUITY CORPORATION
Mortgage Pass-Through Certs, Series 1999-2 Trust
New York (governing law of 333-54027-02 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 August 25, 1999 a distribution was made to holders of CENTEX HOME EQUITY
CORPORATION, Mortgage Pass-Through 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 Mortgage Pass-Through Certs.,
Series 1999-2 Trust, relating to the
August 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.
CENTEX HOME EQUITY CORPORATION
Mortgage Pass-Through 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: 8/31/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass Through
Certs., Series 1999-2 Trust, relating to the August 25, 1999
distribution.
<TABLE>
<CAPTION>
Centex Home Equity Corporation
Mortgage Pass-Through Certificates
Record Date: 7/31/99
Distribution Date: 8/25/99
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% 70,984,716.58 349,599.73 1,496,291.60
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 5.41375% 81,883,260.79 369,412.92 810,187.51
A-8 152314BM1 SEN 6.04000% 15,000,000.00 75,500.00 0.00
X-IO CTX992XIO IO 0.00000% 0.00 338,703.46 0.00
OC CTX9902OC SUB 0.00000% 1,004,095.29 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 281,445,072.66 1,744,464.69 2,306,479.11
</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 69,488,424.98 1,845,891.33 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 81,073,073.28 1,179,600.43 0.00
A-8 0.00 15,000,000.00 75,500.00 0.00
X-IO 0.00 0.00 338,703.46 0.00
OC 0.00 1,717,464.39 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 0.00 279,851,962.65 4,050,943.80 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 70,984,716.58 160,876.16 1,335,415.44 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 81,883,260.79 39,254.18 770,933.33 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 1,004,095.29 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 285,002,100.59 281,445,072.66 200,130.34 2,106,348.77 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 1,496,291.60 69,488,424.98 0.94636067 1,496,291.60
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-7 810,187.51 81,073,073.28 0.96515563 810,187.51
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 1,717,464.39 817.61047610 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
Totals 2,306,479.11 279,851,962.65 0.98192947 2,306,479.11
</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 73,427,000.00 966.73861904 2.19096736 18.18698081 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 84,000,000.00 974.80072369 0.46731167 9.17777774 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 478006.31727277 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 20.37794817 946.36067087 0.94636067 20.37794817
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 9.64508940 965.15563429 0.96515563 9.64508940
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 817,610.47610433 817.61047610 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% 70,984,716.58 349,599.73 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 5.41375% 81,883,260.79 369,412.92 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% 280,442,482.79 0.00 0.00 0.00
OC 2,100.59 0.00000% 1,004,095.29 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 1,405,761.23 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 0.00 349,599.73 0.00 69,488,424.98
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 0.00 369,412.92 0.00 81,073,073.28
A-8 0.00 0.00 75,500.00 0.00 15,000,000.00
X-IO 0.00 0.00 338,703.46 0.00 278,135,991.24
OC 0.00 0.00 0.00 0.00 1,717,464.39
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 1,744,464.69 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% 966.73861904 4.76118771 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 5.41375% 974.80072369 4.39777286 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% 984.00342938 0.00000000 0.00000000 0.00000000
OC 2,100.59 0.00000% 478006.31727277 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 4.76118771 0.00000000 946.36067087
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 4.39777286 0.00000000 965.15563429
A-8 0.00000000 0.00000000 5.03333333 0.00000000 1000.00000000
X-IO 0.00000000 0.00000000 1.18842681 0.00000000 975.91052001
OC 0.00000000 0.00000000 0.00000000 0.00000000 817610.47610433
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% 39,729.00 39,402.00 0.00 0.00 97.59009288%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 4,146,033.82
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 63,080.41
Realized Losses 0.00
Total Deposits 4,209,114.23
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 158,170.43
Payment of Interest and Principal 4,050,943.80
Total Withdrawals (Pool Distribution Amount) 4,209,114.23
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 117,268.91
Trustee Fee - Norwest Bank 1,172.38
FSA Premium 39,729.14
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 158,170.43
</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>
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 72 4,197,638.23 1.757813% 1.499950%
60 Days 21 1,429,025.14 0.512695% 0.510636%
90+ Days 3 220,230.85 0.073242% 0.078695%
Foreclosure 10 617,662.51 0.244141% 0.220710%
REO 0 0.00 0.000000% 0.000000%
Totals 106 6,464,556.73 2.587891% 2.309992%
</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 63,080.41
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed ARM
Weighted Average Gross Coupon 11.153882%
Weighted Average Net Coupon 10.653881%
Weighted Average Pass-Through Rate 10.648882%
Weighted Average Maturity(Stepdown Calculation ) 354
Begin Scheduled Collateral Loan Count 4,118
Number Of Loans Paid In Full 22
End Scheduled Collateral Loan Count 4,096
Begining Scheduled Collateral Balance 281,445,072.66
Ending Scheduled Collateral Balance 279,851,962.60
Ending Actual Collateral Balance at 31-Jul-1999 279,851,962.60
Monthly P &I Constant 2,816,134.52
Ending Scheduled Balance for Premium Loans 279,851,962.60
Scheduled Principal 200,130.34
Unscheduled Principal 1,392,979.72
</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 11.354596 10.774454
Weighted Average Net Rate 10.849596 10.269454
Weighted Average Maturity 312.00 354.00
Beginning Loan Count 3,114 1,004 4,118
Loans Paid In Full 17 5 22
Ending Loan Count 3,097 999 4,096
Beginning Scheduled Balance 184,072,376.57 97,372,696.09 281,445,072.66
Ending scheduled Balance 182,914,788.43 96,937,174.17 279,851,962.60
Record Date 7/31/99 7/31/99
Principal And Interest Constant 1,902,599.01 913,535.51 2,816,134.52
Scheduled Principal 160,876.16 39,254.18 200,130.34
Unscheduled Principal 996,711.98 396,267.74 1,392,979.72
Scheduled Interest 1,741,722.85 874,281.33 2,616,004.18
Servicing Fees 76,696.81 40,571.96 117,268.77
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 766.97 405.72 1,172
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 1,664,259.07 833,303.65 2,497,562.72
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00 0.00
1 2
Group ID 853,363.36 864,100.89 1,717,464.25
Subordinate Amount 0.00 0.00 0.00
Subordinate Reduction Amount 3,720,003.98 4,207,580.82 7,927,584.80
Required Subordinate Amount 3,205,343.99 3,718,145.53 6,923,489.51
Subordinate Increase Amount 338,703.46 374,665.73 713,369.19
Extra Principal Distribution Amount 338,703.46 374,665.59 713,369.19
Excess Cash Amount
</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 3,117,128.55 912,430.27 220,230.85 285,912.51 0.00 387,594.41
Percentage Of Balance 1.704% 0.499% 0.120% 0.156% 0.000% 0.212%
Loan Count 58 13 3 7 0 7
Percentage Of Loans 1.873% 0.420% 0.097% 0.226% 0.000% 0.226%
2 Principal Balance 1,080,509.68 516,594.87 0.00 331,750.00 0.00 199,673.29
Percentage Of Balance 1.115% 0.533% 0.000% 0.342% 0.000% 0.206%
Loan Count 14 8 0 3 0 3
Percentage Of Loans 1.401% 0.801% 0.000% 0.300% 0.000% 0.300%
Totals
Principal Balance 4,197,638.23 1,429,025.14 220,230.85 617,662.51 0.00 587,267.70
Percentage Of Balance 1.500% 0.511% 0.079% 0.221% 0.000% 0.210%
Loan Count 72 21 3 10 0 10
Percentage Of Loans 1.758% 0.513% 0.073% 0.244% 0.000% 0.244%
</TABLE>
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