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Previous: CYBERGOLD INC, S-1/A, 1999-08-06 |
Next: NATIONAL EQUITY TRUST LOW FIVE PORTFOLIO SERIES 26, 497J, 1999-08-06 |
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): July 26, 1999
CITY CAPITAL HOME LOAN TRUST
Mortgage Pass-Through Certificates, 1999-1
New York (governing law of 333-67329-03 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 July 26, 1999 a distribution was made to holders of CITY CAPITAL HOME LOAN
TRUST Mortgage Pass-Through Certificates, 1999-1
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,
1999-1 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.
CITY CAPITAL HOME LOAN TRUST
Mortgage Pass-Through Certificates, 1999-1
By: Wilmington Trust Co., as Owner Trustee
By: /s/ Robert P. Hines Jr., Officer
By: Robert P. Hines Jr., Officer
Date: 8/2/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1999-1, relating to the July 26, 1999
distribution.
<TABLE>
<CAPTION>
CITY CAPITAL HOME LOAN TRUST
Mortgage Pass-Through Certificates
Record Date: 6/30/99
Distribution Date: 7/26/99
CCH Series: 1999-1
Contact: Customer Service
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 846-8130
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 177766AL6 SEQ 6.85000% 236,104,565.11 1,347,763.56 2,602,496.70
OC CCH9901OC SUB 0.00000% 24,182,715.86 0.00 0.00
TRST SEQ 0.00000% 0.00 0.00 0.00
Totals 260,287,280.97 1,347,763.56 2,602,496.70
</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 0.00 233,502,068.41 3,950,260.26 0.00
OC 0.00 25,425,462.48 0.00 0.00
TRST 0.00 0.00 0.00 0.00
Totals 0.00 258,927,530.89 3,950,260.26 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 238,236,000.00 236,104,565.11 361,610.28 2,240,886.42 0.00 0.00
OC 23,273,912.20 24,182,715.86 0.00 0.00 0.00 0.00
TRST 0.00 0.00 0.00 0.00 0.00 0.00
Totals 261,509,912.20 260,287,280.97 361,610.28 2,240,886.42 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 2,602,496.70 233,502,068.41 0.98012923 2,602,496.70
OC 0.00 25,425,462.48 1.09244472 0.00
TRST 0.00 0.00 0.00000000 0.00
Totals 2,602,496.70 258,927,530.89 0.99012511 2,602,496.70
</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 238,236,000.00 991.05326277 1.51786581 9.40616204 0.00000000
OC 23,273,912.20 1039.04816913 0.00000000 0.00000000 0.00000000
TRST 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
Per $1,000 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 0.00000000 10.92402785 980.12923492 0.98012923 10.92402785
OC 0.00000000 0.00000000 1,092.44471929 1.09244472 0.00000000
TRST 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 238,236,000.00 6.85000% 236,104,565.11 1,347,763.56 0.00 0.00
OC 23,273,912.20 0.00000% 24,182,715.86 0.00 0.00 0.00
TRST 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 261,509,912.20 1,347,763.56 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 0.00 0.00 1,347,763.56 0.00 233,502,068.41
OC 0.00 0.00 0.00 0.00 25,425,462.48
TRST 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 1,347,763.56 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 238,236,000.00 6.85000% 991.05326277 5.65726238 0.00000000 0.00000000
OC 23,273,912.20 0.00000% 1039.04816913 0.00000000 0.00000000 0.00000000
TRST 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
Per $1,000 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 0.00000000 0.00000000 5.65726238 0.00000000 980.12923492
OC 0.00000000 0.00000000 0.00000000 0.00000000 1092.44471929
TRST 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>
CERTIFICATE ACCOUNT STATEMENT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 4,255,150.55
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 4,255,150.55
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 304,890.29
Payment of Interest and Principal 3,950,260.26
Total Withdrawals (Pool Distribution Amount) 4,255,150.55
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 216,906.07
Custodial Fee 2,169.07
Trustee Fee 2,169.07
Pool Insurance Fee 63,040.00
Master Servicing Fee 20,606.08
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 304,890.29
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
MBIA Insurance 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 38 1,393,581.96 0.543323% 0.538213%
60 Days 6 222,099.43 0.085788% 0.085777%
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 44 1,615,681.39 0.629111% 0.623990%
</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 0.00
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 13.347708%
Weighted Average Net Coupon 12.347708%
Weighted Average Pass-Through Rate 11.943005%
Weighted Average Maturity(Stepdown Calculation ) 245
Begin Scheduled Collateral Loan Count 7,020
Number Of Loans Paid In Full 26
Ending Scheduled Collateral Loan Count 6,994
Beginning Scheduled Collateral Balance 260,287,280.97
Ending Scheduled Collateral Balance 258,927,530.89
Ending Actual Collateral Balance at 30-Jun-1999 258,927,530.89
Monthly P &I Constant 3,256,809.22
Ending Scheduled Balance for Premium Loans 258,927,530.89
Scheduled Principal 361,610.28
Unscheduled Principal 998,139.80
Required Overcollateralization Amount 36,611,387.68
Overcollateralization Increase Amount 1,242,746.62
Overcollateralization Reduction Amount 0.00
Specified O/C Amount 0.00
Overcollateralized Amount 24,182,715.86
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 2,615,099.12
Extra principal distribution Amount 1,242,746.62
Excess Cash Amount 1,242,746.62
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Aggregate Balance - 3 Largest Loans 308,652.82
Deliquency Loss Factor 459,445.21
Rolling 3 Month Avg Annualized Loss 0.0000%
Rolling 3 Month Delinquent Percentage 0.0286%
Rolling 3 Month Expected Loss 459,445.21
Total Expected Loss 459,445.21
Cummulative Loss Percentage 0.0000%
Delinquency Percentage 0.0858%
Rolling Loss Percentage 0.0000%
Aggregate Balance of Repurchases 0.00
Aggregate Repurchases - 3 Months 0.00
Delinquent
Current Percentage of Loans Modified 0.0000%
Cummulative Percentage of Loans Modified 0.0000%
</TABLE>
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