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Previous: PARAMOUNT SERVICES CORP, 10SB12G/A, 1999-07-09 |
Next: CITY CAPITAL HOME LOAN TRUST 1999-1, 8-K, 1999-07-09 |
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): June 25, 1999
CENTEX HOME EQUITY LOAN TRUST
Mortgage Pass-Through Certificates, Series 1999-2
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, Maryland (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 June 25, 1999 a distribution was made to holders of CENTEX HOME EQUITY LOAN
TRUST Mortgage Pass-Through Certificates, Series 1999-2.
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
1999-2, relating to the June 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 LOAN TRUST
Mortgage Pass-Through Certificates, Series 1999-2
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 7/6/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1999-2, relating to the June 25, 1999
distribution.
<TABLE>
<CAPTION>
Centex Home Equity Corporation
Mortgage Pass-Through Certificates
Record Date: 5/31/99
Distribution Date: 6/25/99
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% 73,427,000.00 361,627.97 675,128.12
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 5.17125% 84,000,000.00 434,385.00 463,459.68
A-8 152314BM1 SEN 6.04000% 15,000,000.00 75,500.00 0.00
X-IO CTX992XIO IO 0.00000% 0.00 173,637.99 0.00
OC CTX9902OC SUB 0.00000% 2,100.59 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 285,002,100.59 1,656,399.54 1,138,587.80
</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 72,751,871.88 1,036,756.09 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 83,536,540.32 897,844.68 0.00
A-8 0.00 15,000,000.00 75,500.00 0.00
X-IO 0.00 0.00 173,637.99 0.00
OC 0.00 293,349.62 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 0.00 284,154,761.82 2,794,987.34 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-1 73,427,000.00 73,427,000.00 0.00 675,128.12 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 84,000,000.00 0.00 463,459.68 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 2,100.59 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 285,002,100.59 285,002,100.59 0.00 1,138,587.80 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-1 675,128.12 72,751,871.88 0.99080545 675,128.12
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-7 463,459.68 83,536,540.32 0.99448262 463,459.68
A-8 0.00 15,000,000.00 1.00000000 0.00
X-IO 0.00 0.00 0.00000000 0.00
OC 0.00 293,349.62 139.65105994 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
Totals 1,138,587.80 284,154,761.82 0.99702690 1,138,587.80
</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 1000.00000000 0.00000000 9.19454860 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 1000.00000000 0.00000000 5.51737714 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 1000.00000000 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 9.19454860 990.80545140 0.99080545 9.19454860
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 5.51737714 994.48262286 0.99448262 5.51737714
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 139,651.05994030 139.65105994 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% 73,427,000.00 361,627.97 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 5.17125% 84,000,000.00 434,385.00 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% 285,001,529.89 0.00 0.00 0.00
OC 2,100.59 0.00000% 2,100.59 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 1,482,761.55 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 0.00 361,627.97 0.00 72,751,871.88
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 0.00 434,385.00 0.00 83,536,540.32
A-8 0.00 0.00 75,500.00 0.00 15,000,000.00
X-IO 0.00 0.00 173,637.99 0.00 283,862,935.98
OC 0.00 0.00 0.00 0.00 293,349.62
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 1,656,399.54 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% 1000.00000000 4.92499993 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 5.17125% 1000.00000000 5.17125000 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% 1000.00000000 0.00000000 0.00000000 0.00000000
OC 2,100.59 0.00000% 1000.00000000 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 4.92499993 0.00000000 990.80545140
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 5.17125000 0.00000000 994.48262286
A-8 0.00000000 0.00000000 5.03333333 0.00000000 1000.00000000
X-IO 0.00000000 0.00000000 0.60925283 0.00000000 996.00495509
OC 0.00000000 0.00000000 0.00000000 0.00000000 139651.05994030
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% 40,375.00 40,213.00 0.00 0.00 99.59876161%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 2,944,702.80
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 10,597.94
Realized Losses 0.00
Total Deposits 2,955,300.74
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 160,313.40
Payment of Interest and Principal 2,794,987.34
Total Withdrawals (Pool Distribution Amount) 2,955,300.74
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 118,750.89
FSA Premium 40,375.00
Trustee Fee 1,187.51
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 160,313.40
</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 13 904,382.53 0.313555% 0.318271%
60 Days 3 213,831.71 0.072359% 0.075252%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 16 1,118,214.24 0.385914% 0.393523%
</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 10,597.94
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed ARM
Weighted Average Gross Coupon 8.874730%
Weighted Average Net Coupon 8.374730%
Weighted Average Pass-Through Rate 8.369730%
Weighted Average Maturity(Stepdown Calculation ) 356
Beginning Scheduled Collateral Loan Count 4,155
Number Of Loans Paid In Full 9
Ending Scheduled Collateral Loan Count 4,146
Beginning Scheduled Collateral Balance 285,000,000.00
Ending Scheduled Collateral Balance 284,154,562.93
Ending Actual Collateral Balance at 31-May-1999 284,154,562.93
Monthly P &I Constant 2,278,894.97
Ending Scheduled Balance for Premium Loans 284,154,562.93
Scheduled Principal 171,232.90
Unscheduled Principal 676,306.76
</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 9.192104 8.278462
Weighted Average Net Rate 8.692104 7.773462
Weighted Average Maturity 314.00 356.00
Beginning Loan Count 3,142 1,015 4,157
Loans Paid In Full 10 1 11
Ending Loan Count 3,132 1,014 4,146
Beginning Scheduled Balance 186,000,471.34 99,001,058.55 285,001,529.89
Ending scheduled Balance 185,498,708.16 98,655,854.77 284,154,562.93
Record Date 5/31/99 5/31/99
Principal And Interest Constant 1,563,831.33 715,063.64 2,278,894.97
Scheduled Principal 139,155.49 32,077.43 171,232.92
Unscheduled Principal 362,334.64 313,969.35 676,303.99
Scheduled Interest 1,424,777.63 682,986.21 2,107,763.84
Servicing Fees 77,500.09 41,250.80 118,750.89
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 775.00 412.51 1,187.51
Pool Insurance Fee 26,350.00 14,025.00 40,375.00
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 1,346,502.54 641,322.90 1,987,825.44
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cummulative Losses 0.00 0.00 0.00
1 2 Total
Group ID 173,836.28 119,314.45 293,150.73
Subordinate Amount 0.00 0.00 0.00
Subordinate Reduction Amount 3,720,003.97 4,207,580.82 7,927,584.79
Required Subordinate Amount 173,836.28 119,314.45 293,150.73
Subordinate Increase Amount 173,836.47 119,314.45 293,150.92
Extra Principal Distribution Amount 173,836.47 119,314.45 293,150.92
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 904,382.53 82,081.71 0.00 0.00 0.00 99,336.76
Percentage Of Balance 0.488% 0.044% 0.000% 0.000% 0.000% 0.054%
Loan Count 13 2 0 0 0 2
Percentage Of Loan Count 0.415% 0.064% 0.000% 0.000% 0.000% 0.064%
2 Principal Balance 0.00 131,750.00 0.00 0.00 0.00 72,827.04
Percentage Of Balance 0.000% 0.134% 0.000% 0.000% 0.000% 0.074%
Loan Count 0 1 0 0 0 1
Percentage Of Loan Count 0.000% 0.099% 0.000% 0.000% 0.000% 0.099%
Total
Principal Balance 904,382.53 213,831.71 0.00 0.00 0.00 172,163.80
Percentage Of Balance 0.318% 0.075% 0.000% 0.000% 0.000% 0.061%
Loan Count 13 3 0 0 0 3
Percentage Of Loan Count 0.314% 0.072% 0.000% 0.000% 0.000% 0.072%
</TABLE>
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