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Previous: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1999-13 TRUST, 8-K, 2000-01-06 |
Next: CITY CAPITAL HOME LOAN TRUST MORT PAS THRU CERT SRS 1999-1 T, 8-K, 2000-01-06 |
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): December 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 December 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
December 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: 1/5/00
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
December 27, 1999 distribution.
<TABLE>
<CAPTION>
Centex Home Equity Corporation
Mortgage Pass-Through Certificates
Record Date: 11/30/99
Distribution Date: 12/27/99
CHEC Series: 1999-2
Contact: Customer Service - CTSLink
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
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% 61,299,030.06 301,897.72 3,289,658.35
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 5.84000% 75,136,312.83 377,852.17 3,123,987.13
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
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 264,008,342.89 1,366,498.47 6,413,645.48
</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 58,009,371.71 3,591,556.07 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 72,012,325.70 3,501,839.30 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
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
Totals 0.00 257,594,697.41 7,780,143.95 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
<S> <C> <C> <C> <C> <C> <C>
A-1 73,427,000.00 61,299,030.06 155,742.73 3,133,915.62 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 75,136,312.83 34,858.14 3,089,128.99 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
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 285,000,000.00 264,008,342.89 190,600.87 6,223,044.61 0.00 0.00
</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 3,289,658.35 58,009,371.71 0.79002781 3,289,658.35
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 3,123,987.13 72,012,325.70 0.85728959 3,123,987.13
A-8 0.00 15,000,000.00 1.00000000 0.00
X-IO 0.00 0.00 0.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
Totals 6,413,645.48 257,594,697.41 0.90384104 6,413,645.48
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
A-1 73,427,000.00 834.82955943 2.12105533 42.68069811 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 84,000,000.00 894.47991464 0.41497786 36.77534512 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
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 Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 44.80175344 790.02780598 0.79002781 44.80175344
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 37.19032298 857.28959167 0.85728959 37.19032298
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
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
</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% 61,299,030.06 301,897.72 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 5.84000% 75,136,312.83 377,852.17 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% 264,009,760.10 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 285,000,000.00 1,366,498.47 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 Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00 0.00 301,897.72 0.00 58,009,371.71
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 0.00 377,852.17 0.00 72,012,325.70
A-8 0.00 0.00 75,500.00 0.00 15,000,000.00
X-IO 0.00 0.00 0.00 0.00 257,596,080.19
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 1,366,498.47 0.00
</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% 834.82955943 4.11153554 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 5.84000% 894.47991464 4.49824012 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% 926.34506279 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 Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 0.00000000 4.11153554 0.00000000 790.02780598
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 4.49824012 0.00000000 857.28959167
A-8 0.00000000 0.00000000 5.03333333 0.00000000 1000.00000000
X-IO 0.00000000 0.00000000 0.00000000 0.00000000 903.84104355
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
<S> <C> <C> <C> <C> <C> <C>
OC 0.00000% 4,766,087.46 5,744,718.78 4,766,087.46 5,744,718.78 273,481.20194802%
FSA 1,200.00000% 37,401.18 36,493.18 0.00 0.00 90.38558514%
FG_REIMBI 0.00000% 0.00000% 0.00000% 0.00000% 0.00000% 0.00000%
FG_REIMB2 0.00000% 0.00000% 0.00000% 0.00000% 0.00000% 0.00000%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 7,792,860.59
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 150,855.05
Realized Losses (13,061.28)
Total Deposits 7,930,654.36
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 150,510.41
Payment of Interest and Principal 7,780,143.95
Total Withdrawals (Pool Distribution Amount) 7,930,654.36
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 111,989.43
Trustee Fee - Norwest Bank 1,119.80
FSA Premium 37,401.18
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 150,510.41
</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 93 6,008,907.81 2.386451% 2.281811%
60 Days 30 2,076,799.53 0.769823% 0.788640%
90+ Days 19 1,071,788.63 0.487555% 0.406999%
Foreclosure 90 6,089,369.28 2.309469% 2.312365%
REO 10 503,169.12 0.256608% 0.191072%
Totals 242 15,750,034.37 6.209905% 5.980888%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 13,061.28
Cumulative Realized Losses - Includes Interest Shortfall 13,890.30
Principal Balance of Contaminated Properties 0.00
Current Period Class A Insufficient Funds 0.00
Periodic Advance 150,855.05
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
Class A-1 211,573,000.00 74.23614035% 199,585,325.70 75.79014512% 22.028366% 0.000000%
Class A-2 198,207,000.00 69.54631579% 186,219,325.70 70.71456616% 5.075579% 0.000000%
Class A-3 167,022,000.00 58.60421053% 155,034,325.70 58.87243465% 11.842132% 0.000000%
Class X-IO 137,106,000.00 48.10736842% 125,118,325.70 47.51219073% 0.000000% 0.000000%
Class A-5 117,600,000.00 41.26315789% 105,612,325.70 40.10502006% 7.407171% 0.000000%
Class A-6 99,000,000.00 34.73684211% 87,012,325.70 33.04189208% 7.063128% 0.000000%
Class A-7 15,000,000.00 5.26315789% 15,000,000.00 5.69607096% 27.345821% 0.000000%
Class A-8 0.00 0.00000000% 0.00 0.00000000% 5.696071% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed ARM
Weighted Average Gross Coupon 11.200625%
Weighted Average Net Coupon 10.700625%
Weighted Average Pass-Through Rate 10.695625%
Weighted Average Maturity(Stepdown Calculation ) 323
Beginning Scheduled Collateral Loan Count 3,961
Number Of Loans Paid In Full 64
Ending Scheduled Collateral Loan Count 3,897
Beginning Scheduled Collateral Balance 268,774,430.35
Ending Scheduled Collateral Balance 263,339,416.19
Ending Actual Collateral Balance at 30-Nov-1999 263,339,416.19
Monthly P &I Constant 2,699,302.18
Ending Scheduled Balance for Premium Loans 263,339,416.19
Scheduled Principal 190,600.87
Unscheduled Principal 5,244,413.29
</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 11.343233 10.926791
Weighted Average Net Rate 10.838233 10.421791
Weighted Average Maturity 310.00 352.00
Beginning Loan Count 3,001 960 3,961
Loans Paid In Full 40 24 64
Ending Loan Count 2,961 936 3,897
Beginning Scheduled Balance 176,734,425.99 92,040,004.36 268,774,430.35
Ending scheduled Balance 174,090,168.75 89,249,247.44 263,339,416.19
Record Date 11/30/99 11/30/99
Principal And Interest Constant 1,826,359.16 872,943.02 2,699,302.18
Scheduled Principal 155,742.73 34,858.14 190,600.87
Unscheduled Principal 2,488,514.51 2,755,898.78 5,244,413.29
Scheduled Interest 1,670,616.43 838,084.88 2,508,701.31
Servicing Fees 73,639.37 38,350.06 111,989.43
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 736.27 383.53 1,119.80
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 1,596,240.79 799,351.29 2,395,592.08
Realized Loss Amount 13,061.28 0.00 13,061.28
Cumulative Realized Loss 13,890.30 0.00 13,890.30
Percentage of Cumulative Losses 0.00 0.00 0.00
Group ID 1 2 Total
Subordinate Amount 3,507,797.04 2,236,921.74 5,744,718.78
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 658,462.39 333,230.21 991,692.60
Extra Principal Distribution Amount 658,462.39 333,230.21 991,692.60
Excess Cash Amount 658,462.39 333,230.21 991,692.60
</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 3,864,948.55 1,295,998.97 948,721.72 3,764,182.64 503,169.12 2,063,423.12
Percentage Of Balance 2.220% 0.744% 0.545% 2.162% 0.289% 1.185%
Loan Count 70 21 17 62 10 32
Percentage Of Loans 2.364% 0.709% 0.574% 2.094% 0.338% 1.081%
2 Principal Balance 2,143,959.26 780,800.56 123,066.91 2,325,186.64 0.00 332,484.48
Percentage Of Balance 2.402% 0.875% 0.138% 2.605% 0.000% 0.373%
Loan Count 23 9 2 28 0 5
Percentage Of Loans 2.457% 0.962% 0.214% 2.991% 0.000% 0.534%
Totals:Principal Balance 6,008,907.81 2,076,799.53 1,071,788.63 6,089,369.28 503,169.12 2,395,907.60
Percentage of Balance 2.282% 0.789% 0.407% 2.312% 0.191% 0.910%
Loan Count 93 30 19 90 10 37
Percentage Of Loans 2.386% 0.770% 0.488% 2.309% 0.257% 0.949%
</TABLE>
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