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Previous: ATLAS ENERGY FOR NINETIES PUBLIC NO 8 LTD, SB-2/A, 1999-09-03 |
Next: SLEEPMASTER LLC, S-4/A, 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
STRUCTURED ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1999-BC2 Trust
New York (governing law of 333-68513-06 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 STRUCTURED ASSET
SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1999-BC2
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 Certificates, Series
1999-BC2 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.
STRUCTURED ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1999-BC2 Trust
By: The First National Bank, as Trustee
By: /s/ Barbara Grosse, Vice President
By: Barbara Grosse, Vice President
Date: 8/31/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1999-BC2 Trust, relating to the August 25,
1999 distribution.
<TABLE>
<CAPTION>
Structured Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 7/31/99
Distribution Date: 8/25/99
SASC Series: 1999-BC2
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>
IO 863572E66 IO 8.00000% 0.00 346,666.67 0.00
A-1 863572D75 SEN 7.09000% 136,570,720.05 806,905.34 2,077,631.72
A-2 863572D83 SEN 5.25375% 64,444,323.51 282,145.30 6,687,036.16
A-3 863572D91 SEN 5.46375% 157,000,000.00 714,840.62 0.00
M-1 863572E25 SUB 6.01375% 26,119,000.00 130,894.28 0.00
M-2 863572E33 SUB 6.56375% 17,187,000.00 94,009.31 0.00
M-3 863572E41 SUB 6.46375% 3,878,000.00 20,888.69 0.00
B 863572E58 SUB 7.81375% 9,023,000.00 58,752.89 0.00
X SAC99BC2X IO 0.00000% 0.00 578,863.31 0.00
P SAC99BC2P SUB 0.00000% 0.00 145,164.59 0.00
OC SAC99B2OC OC 0.00000% 644.29 0.00 0.00
R-I SAC99B2R1 R 0.00000% 0.00 0.00 0.00
R-II SAC99B2R2 R 0.00000% 0.00 0.00 0.00
R-III SAC99B2R3 R 0.00000% 0.00 0.00 0.00
R-IV SAC99B2R4 R 0.00000% 0.00 0.00 0.00
R-V SAC99B2R5 R 0.00000% 0.00 0.00 0.00
Special Fe FEE 0.00000% 0.00 0.00 0.00
Totals 414,222,687.85 3,179,131.00 8,764,667.88
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
IO 0.00 0.00 346,666.67 0.00
A-1 0.00 134,493,088.33 2,884,537.06 0.00
A-2 0.00 57,757,287.35 6,969,181.46 0.00
A-3 0.00 157,000,000.00 714,840.62 0.00
M-1 0.00 26,119,000.00 130,894.28 0.00
M-2 0.00 17,187,000.00 94,009.31 0.00
M-3 0.00 3,878,000.00 20,888.69 0.00
B 0.00 9,023,000.00 58,752.89 0.00
X 0.00 0.00 578,863.31 0.00
P 0.00 0.00 145,164.59 0.00
OC 0.00 644.29 0.00 0.00
R-I 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00
R-V 0.00 0.00 0.00 0.00
Special Fee 0.00 0.00 0.00 0.00
Totals 0.00 405,458,019.97 11,943,798.88 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>
IO 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
A-1 140,129,000.00 136,570,720.05 138,038.12 1,939,593.60 0.00 0.00
A-2 75,577,000.00 64,444,323.51 159,056.56 6,527,979.60 0.00 0.00
A-3 157,000,000.00 157,000,000.00 0.00 0.00 0.00 0.00
M-1 26,119,000.00 26,119,000.00 0.00 0.00 0.00 0.00
M-2 17,187,000.00 17,187,000.00 0.00 0.00 0.00 0.00
M-3 3,878,000.00 3,878,000.00 0.00 0.00 0.00 0.00
B 9,023,000.00 9,023,000.00 0.00 0.00 0.00 0.00
X 0.00 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 0.00 0.00 0.00 0.00
OC 644.29 644.29 0.00 0.00 0.00 0.00
R-I 0.00 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00 0.00 0.00
R-V 0.00 0.00 0.00 0.00 0.00 0.00
Special Fe 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
Totals 428,913,644.29 414,222,687.85 297,094.68 8,467,573.20 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>
IO 0.00 0.00 0.00000000 0.00
IO 0.00 0.00 0.00000000 0.00
A-1 2,077,631.72 134,493,088.33 0.95978055 2,077,631.72
A-2 6,687,036.16 57,757,287.35 0.76421778 6,687,036.16
A-3 0.00 157,000,000.00 1.00000000 0.00
M-1 0.00 26,119,000.00 1.00000000 0.00
M-2 0.00 17,187,000.00 1.00000000 0.00
M-3 0.00 3,878,000.00 1.00000000 0.00
B 0.00 9,023,000.00 1.00000000 0.00
X 0.00 0.00 0.00000000 0.00
P 0.00 0.00 0.00000000 0.00
OC 0.00 644.29 1.00000000 0.00
R-I 0.00 0.00 0.00000000 0.00
R-II 0.00 0.00 0.00000000 0.00
R-III 0.00 0.00 0.00000000 0.00
R-IV 0.00 0.00 0.00000000 0.00
R-V 0.00 0.00 0.00000000 0.00
Special Fee 0.00 0.00 0.00000000 0.00
Special Fee 0.00 0.00 0.00000000 0.00
Totals 8,764,667.88 405,458,019.97 0.94531388 8,764,667.88
</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>
IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1 140,129,000.00 974.60711238 0.98507889 13.84148606 0.00000000
A-2 75,577,000.00 852.69756024 2.10456303 86.37521468 0.00000000
A-3 157,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 26,119,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 17,187,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 3,878,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 9,023,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
X 0.00 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00 0.00000000 0.00000000 0.00000000 0.00000000
OC 644.29 1000.00000000 0.00000000 0.00000000 0.00000000
R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-V 0.00 0.00000000 0.00000000 0.00000000 0.00000000
Special Fe 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All denominations per $1,000.
</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>
IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 14.82656495 959.78054742 0.95978055 14.82656495
A-2 0.00000000 88.47977771 764.21778253 0.76421778 88.47977771
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-V 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Special Fee 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>
IO 0.00 8.00000% 52,000,000.00 346,666.67 0.00 0.00
A-1 140,129,000.00 7.09000% 136,570,720.05 806,905.34 0.00 0.00
A-2 75,577,000.00 5.25375% 64,444,323.51 282,145.30 0.00 0.00
A-3 157,000,000.00 5.46375% 157,000,000.00 714,840.62 0.00 0.00
M-1 26,119,000.00 6.01375% 26,119,000.00 130,894.28 0.00 0.00
M-2 17,187,000.00 6.56375% 17,187,000.00 94,009.31 0.00 0.00
M-3 3,878,000.00 6.46375% 3,878,000.00 20,888.69 0.00 0.00
B 9,023,000.00 7.81375% 9,023,000.00 58,752.89 0.00 0.00
X 0.00 0.00000% 0.00 0.00 0.00 0.00
P 0.00 0.00000% 0.00 0.00 0.00 0.00
OC 644.29 0.00000% 644.29 0.00 0.00 0.00
R-I 0.00 0.00000% 0.00 0.00 0.00 0.00
R-II 0.00 0.00000% 0.00 0.00 0.00 0.00
R-III 0.00 0.00000% 0.00 0.00 0.00 0.00
R-IV 0.00 0.00000% 0.00 0.00 0.00 0.00
R-V 0.00 0.00000% 0.00 0.00 0.00 0.00
Special Fee 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 428,913,644.29 2,455,103.10 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>
IO 0.00 0.00 346,666.67 0.00 52,000,000.00
A-1 0.00 0.00 806,905.34 0.00 134,493,088.33
A-2 0.00 0.00 282,145.30 0.00 57,757,287.35
A-3 0.00 0.00 714,840.62 0.00 157,000,000.00
M-1 0.00 0.00 130,894.28 0.00 26,119,000.00
M-2 0.00 0.00 94,009.31 0.00 17,187,000.00
M-3 0.00 0.00 20,888.69 0.00 3,878,000.00
B 0.00 0.00 58,752.89 0.00 9,023,000.00
X 0.00 0.00 578,863.31 0.00 0.00
P 0.00 0.00 145,164.59 0.00 0.00
OC 0.00 0.00 0.00 0.00 644.29
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00 0.00
R-V 0.00 0.00 0.00 0.00 0.00
Special Fee 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 3,179,131.00 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>
IO 0.00 8.00000% 1000.00000000 6.66666673 0.00000000 0.00000000
A-1 140,129,000.00 7.09000% 974.60711238 5.75830371 0.00000000 0.00000000
A-2 75,577,000.00 5.25375% 852.69756024 3.73321645 0.00000000 0.00000000
A-3 157,000,000.00 5.46375% 1000.00000000 4.55312497 0.00000000 0.00000000
M-1 26,119,000.00 6.01375% 1000.00000000 5.01145833 0.00000000 0.00000000
M-2 17,187,000.00 6.56375% 1000.00000000 5.46979170 0.00000000 0.00000000
M-3 3,878,000.00 6.46375% 1000.00000000 5.38645952 0.00000000 0.00000000
B 9,023,000.00 7.81375% 1000.00000000 6.51145849 0.00000000 0.00000000
X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
OC 644.29 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-V 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
Special Fee 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All denominations per $1,000.
</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>
IO 0.00000000 0.00000000 6.66666673 0.00000000 1000.00000000
A-1 0.00000000 0.00000000 5.75830371 0.00000000 959.78054742
A-2 0.00000000 0.00000000 3.73321645 0.00000000 764.21778253
A-3 0.00000000 0.00000000 4.55312497 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 5.01145833 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 5.46979170 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 5.38645952 0.00000000 1000.00000000
B 0.00000000 0.00000000 6.51145849 0.00000000 1000.00000000
X 0.00000000 0.00000000 1447158275000.00 0.00000000 0.00000000
P 0.00000000 0.00000000 362911475000.000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-V 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Special Fee 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
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 12,123,628.71
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 12,123,628.71
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 179,829.83
Payment of Interest and Principal 11,943,798.88
Total Withdrawals (Pool Distribution Amount) 12,123,628.71
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 172,592.80
Trustee Fee - First National Bank of Chicago 333.33
Master Servicing Fee 6,903.70
Special Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 179,829.83
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Reserve Fund 1,000.00 0.00 0.00 1,000.00
</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 104 8,998,335.41 2.784471% 2.219301%
60 Days 2 123,378.85 0.053548% 0.030430%
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 106 9,121,714.26 2.838019% 2.249731%
</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 6 Month LIBOR ARM
Weighted Average Gross Coupon 9.310343%
Weighted Average Net Coupon 8.790343%
Weighted Average Pass-Through Rate 8.789377%
Weighted Average Maturity(Stepdown Calculation ) 313
Begin Scheduled Collateral Loan Count 3,800
Number Of Loans Paid In Full 65
End Scheduled Collateral Loan Count 3,735
Begining Scheduled Collateral Balance 414,222,687.85
Ending Scheduled Collateral Balance 405,458,019.97
Ending Actual Collateral Balance at 31-Jul-1999 405,732,743.18
Monthly P &I Constant 3,510,890.92
Ending Scheduled Balance for Premium Loans 405,458,019.97
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2 Total
Collateral Description Mixed ARM 6 Month LIBOR ARM
Weighted Average Coupon Rate 9.423092 9.241027
Weighted Average Net Rate 8.903092 8.721027
Weighted Average Maturity 277.00 335.00
Beginning Loan Count 1,800 2,000 3,800
Loans Paid In Full 22 43 65
Ending Loan Count 1,778 1,957 3,735
Beginning Scheduled Balance 157,703,757.85 256,518,930.00 414,222,687.85
Ending scheduled Balance 155,626,126.13 249,831,893.84 405,458,019.97
Record Date 7/31/99 7/31/99
Principal And Interest Constant 1,376,419.01 2,134,471.91 3,510,890.92
Scheduled Principal 138,038.12 159,056.56 297,094.68
Unscheduled Principal 1,939,593.60 6,527,979.60 8,467,573.20
Scheduled Interest 1,238,380.89 1,975,415.35 3,213,796.24
Servicing Fees 65,709.91 106,882.89 172,592.80
Master Servicing Fees 2,628.38 4,275.34 6,903.72
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 0.00 0.00 0.00
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 1,170,042.60 1,864,257.12 3,034,299.72
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
</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 3,403,858.06 123,378.85 0.00 0.00 0.00 0.00
Percentage Of Balance 2.187% 0.079% 0.000% 0.000% 0.000% 0.000%
Loan Count 48 2 0 0 0 0
Percentage Of Loans 2.700% 0.112% 0.000% 0.000% 0.000% 0.000%
2 Principal Balance 5,594,477.35 0.00 0.00 0.00 0.00 0.00
Percentage Of Balance 2.239% 0.000% 0.000% 0.000% 0.000% 0.000%
Loan Count 56 0 0 0 0 0
Percentage Of Loans 2.862% 0.000% 0.000% 0.000% 0.000% 0.000%
Totals
Principal Balance 8,998,335.41 123,378.85 0.00 0.00 0.00 0.00
Percentage Of Balance 2.219% 0.030% 0.000% 0.000% 0.000% 0.000%
Loan Count 104 2 0 0 0 0
Percentage Of Loans 2.784% 0.054% 0.000% 0.000% 0.000% 0.000%
</TABLE>
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