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Previous: WELLS FARGO CORE TRUST, N-1A, 1999-11-08 |
Next: EVERTRUST FINANCIAL GROUP INC, 10-Q, 1999-11-08 |
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): October 25, 1999
STRUCTURED ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1999-BC2 Trust
New York (governing law of 333-68513-06 52-2196377
Pooling and Servicing Agreement) (Commission 52-2196378
(State or other File Number) 52-2196381
jurisdiction 52-2196383
52-2196384
IRS EIN
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 October 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 October 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: 11/2/99
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 October
25, 1999 distribution.
<TABLE>
<CAPTION>
Structured Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 9/30/99
Distribution Date: 10/25/99
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% 131,476,297.09 776,805.79 3,150,009.92
A-2 863572D83 SEN 5.47250% 49,518,813.18 210,771.33 7,015,654.03
A-3 863572D91 SEN 5.68250% 157,000,000.00 693,896.39 0.00
M-1 863572E25 SUB 6.23250% 26,119,000.00 126,611.85 0.00
M-2 863572E33 SUB 6.78250% 17,187,000.00 90,666.20 0.00
M-3 863572E41 SUB 6.68250% 3,878,000.00 20,155.90 0.00
B 863572E58 SUB 8.03250% 9,023,000.00 56,371.19 0.00
X SAC99BC2X IO 0.00000% 0.00 0.00 0.00
P SAC99BC2P SUB 0.00000% 0.00 107,340.97 0.00
OC SAC99B2OC OC 0.00000% 386,338.42 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 394,588,448.69 2,429,286.29 10,165,663.95
</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 0.00 128,326,287.17 3,926,815.71 0.00
A-2 0.00 42,503,159.15 7,226,425.36 0.00
A-3 0.00 157,000,000.00 693,896.39 0.00
M-1 0.00 26,119,000.00 126,611.85 0.00
M-2 0.00 17,187,000.00 90,666.20 0.00
M-3 0.00 3,878,000.00 20,155.90 0.00
B 0.00 9,023,000.00 56,371.19 0.00
X 0.00 0.00 0.00 0.00
P 0.00 0.00 107,340.97 0.00
OC 0.00 932,833.80 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 0.00 384,969,280.12 12,594,950.24 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-1 140,129,000.00 131,476,297.09 136,443.71 3,013,566.21 0.00 0.00
A-2 75,577,000.00 49,518,813.18 152,333.54 6,863,320.49 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 644.29 386,338.42 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 428,913,644.29 394,588,448.69 288,777.25 9,876,886.70 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 3,150,009.92 128,326,287.17 0.91577252 3,150,009.92
A-2 7,015,654.03 42,503,159.15 0.56238219 7,015,654.03
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 0.00 932,833.80 1,447.84770833 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 10,165,663.95 384,969,280.12 0.89754496 10,165,663.95
</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-1 140,129,000.00 938.25187570 0.97370073 21.50565700 0.00000000
A-2 75,577,000.00 655.21009275 2.01560713 90.81229064 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 599634.35719940 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 22.47935773 915.77251797 0.91577252 22.47935773
A-2 0.00000000 92.82789777 562.38219498 0.56238219 92.82789777
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 1,447,847.7083301 1447.84770833 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% 131,476,297.09 776,805.79 0.00 0.00
A-2 75,577,000.00 5.47250% 49,518,813.18 210,771.33 0.00 0.00
A-3 157,000,000.00 5.68250% 157,000,000.00 693,896.39 0.00 0.00
M-1 26,119,000.00 6.23250% 26,119,000.00 126,611.85 0.00 0.00
M-2 17,187,000.00 6.78250% 17,187,000.00 90,666.20 0.00 0.00
M-3 3,878,000.00 6.68250% 3,878,000.00 20,155.90 0.00 0.00
B 9,023,000.00 8.03250% 9,023,000.00 56,371.19 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% 386,338.42 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 2,321,945.32 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 0.00 776,805.79 0.00 128,326,287.17
A-2 0.00 0.00 210,771.33 0.00 42,503,159.15
A-3 0.00 0.00 693,896.39 0.00 157,000,000.00
M-1 0.00 0.00 126,611.85 0.00 26,119,000.00
M-2 0.00 0.00 90,666.20 0.00 17,187,000.00
M-3 0.00 0.00 20,155.90 0.00 3,878,000.00
B 0.00 0.00 56,371.19 0.00 9,023,000.00
X 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 107,340.97 0.00 0.00
OC 0.00 0.00 0.00 0.00 932,833.80
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 2,429,286.29 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% 938.25187570 5.54350484 0.00000000 0.00000000
A-2 75,577,000.00 5.47250% 655.21009275 2.78882901 0.00000000 0.00000000
A-3 157,000,000.00 5.68250% 1000.00000000 4.41972223 0.00000000 0.00000000
M-1 26,119,000.00 6.23250% 1000.00000000 4.84749990 0.00000000 0.00000000
M-2 17,187,000.00 6.78250% 1000.00000000 5.27527783 0.00000000 0.00000000
M-3 3,878,000.00 6.68250% 1000.00000000 5.19749871 0.00000000 0.00000000
B 9,023,000.00 8.03250% 1000.00000000 6.24749972 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% 599634.35719940 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 5.54350484 0.00000000 915.77251797
A-2 0.00000000 0.00000000 2.78882901 0.00000000 562.38219498
A-3 0.00000000 0.00000000 4.41972223 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 4.84749990 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 5.27527783 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 5.19749871 0.00000000 1000.00000000
B 0.00000000 0.00000000 6.24749972 0.00000000 1000.00000000
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 268352425000.000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 1447847.70833010
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>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 12,786,467.29
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses (20,195.79)
Total Deposits 12,766,271.50
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 171,321.26
Payment of Interest and Principal 12,594,950.24
Total Withdrawals (Pool Distribution Amount) 12,766,271.50
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 164,411.52
Trustee Fee - First National Bank of Chicago 333.33
Master Servicing Fee 6,576.41
Special Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 171,321.26
</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> 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 34 3,384,917.79 0.955325% 0.879270%
60 Days 8 562,180.57 0.224782% 0.146033%
90+ Days 14 975,622.18 0.393369% 0.253429%
Foreclosure 68 6,418,820.90 1.910649% 1.667359%
REO 3 394,473.27 0.084293% 0.102469%
Totals 127 11,736,014.71 3.568418% 3.048559%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 20,195.79
Principal Balance of Contaminated Properties 0.00
Current Period Class A Insufficient Funds 0.00
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description 6 Month LIBOR ARM
Weighted Average Gross Coupon 9.305770%
Weighted Average Net Coupon 8.805771%
Weighted Average Pass-Through Rate 8.785771%
Weighted Average Maturity(Stepdown Calculation ) 311
Beginning Scheduled Collateral Loan Count 3,640
Number Of Loans Paid In Full 81
Ending Scheduled Collateral Loan Count 3,559
Beginning Scheduled Collateral Balance 394,588,448.69
Ending Scheduled Collateral Balance 384,969,280.12
Ending Actual Collateral Balance at 30-Sep-1999 385,252,198.43
Monthly P &I Constant 3,348,735.00
Ending Scheduled Balance for Premium Loans 384,969,280.12
</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 9.415861 9.236227
Weighted Average Net Rate 8.895863 8.716228
Weighted Average Maturity 275.00 333.00
Beginning Loan Count 1,742 1,898 3,640
Loans Paid In Full 27 54 81
Ending Loan Count 1,715 1,844 3,559
Beginning Scheduled Balance 152,759,365.57 241,829,083.12 394,588,448.69
Ending scheduled Balance 149,810,986.71 235,158,293.41 384,969,280.12
Record Date 9/30/99 9/30/99
Principal And Interest Constant 1,335,077.90 2,013,657.10 3,348,735.00
Scheduled Principal 136,443.71 152,333.54 288,777.25
Unscheduled Principal 2,811,935.15 6,518,456.17 9,330,391.32
Scheduled Interest 1,198,634.19 1,861,323.56 3,059,957.75
Servicing Fees 63,649.52 100,762.00 164,411.52
Master Servicing Fees 2,546.00 4,030.45 6,576.45
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 1,132,438.67 1,756,531.11 2,888,969.78
Realized Loss Amount 20,195.79 0.00 20,195.79
Cumulative Realized Loss 20,195.79 0.00 20,195.79
Current Period Class A Insufficient Funds 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 1,432,836.23 210,768.26 672,036.60 2,165,070.74 195,418.36 1,350,983.93
Percentage Of Balance 0.956% 0.141% 0.449% 1.445% 0.130% 0.902%
Loan Count 15 3 10 27 2 19
Percentage Of Loans 0.875% 0.175% 0.583% 1.574% 0.117% 1.108%
2 Principal Balance 1,952,081.56 351,412.31 303,585.58 4,253,750.16 199,054.91 1,960,942.88
Percentage Of Balance 0.830% 0.149% 0.129% 1.809% 0.085% 0.834%
Loan Count 19 5 4 41 1 19
Percentage Of Loans 1.030% 0.271% 0.217% 2.223% 0.054% 1.030%
Totals:Principal Balance 3,384,917.79 562,180.57 975,622.18 6,418,820.90 394,473.27 3,311,926.81
Percentage of Balance 0.879% 0.146% 0.253% 1.667% 0.102% 0.860%
Loan Count 34 8 14 68 3 38
Percentage Of Loans 0.955% 0.225% 0.393% 1.911% 0.084% 1.068%
</TABLE>
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