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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
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 December 27, 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 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.
STRUCTURED ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1999-BC2 Trust
By: The First National Bank of Chicago, as Trustee
By: /s/ Barbara Grosse, Vice President
By: Barbara Grosse, Vice President
Date: 1/5/00
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 December
27, 1999 distribution.
<TABLE>
<CAPTION>
Structured Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 11/30/99
Distribution Date:
12/27/99
SASC Series: 1999-BC2
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>
IO 863572E66 IO 8.00000% 0.00 346,666.67 0.00
A-1 863572D75 SEN 7.09000% 126,061,160.17 744,811.35 1,894,773.56
A-2 863572D83 SEN 5.68000% 36,672,008.13 179,366.87 5,184,941.82
A-3 863572D91 SEN 5.89000% 157,000,000.00 796,295.27 0.00
M-1 863572E25 SUB 6.44000% 26,119,000.00 144,844.36 0.00
M-2 863572E33 SUB 6.99000% 17,187,000.00 103,451.42 0.00
M-3 863572E41 SUB 6.89000% 3,878,000.00 23,008.39 0.00
B 863572E58 SUB 8.24000% 9,023,000.00 64,023.20 0.00
X SAC99BC2X IO 0.00000% 0.00 0.00 0.00
P SAC99BC2P SUB 0.00000% 0.00 92,455.41 0.00
OC SAC99B2OC OC 0.00000% 1,299,192.33 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 377,239,360.63 2,494,922.94 7,079,715.38
</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 0.00 124,166,386.61 2,639,584.91 0.00
A-2 0.00 31,487,066.31 5,364,308.69 0.00
A-3 0.00 157,000,000.00 796,295.27 0.00
M-1 0.00 26,119,000.00 144,844.36 0.00
M-2 0.00 17,187,000.00 103,451.42 0.00
M-3 0.00 3,878,000.00 23,008.39 0.00
B 0.00 9,023,000.00 64,023.20 0.00
X 0.00 0.00 0.00 0.00
P 0.00 0.00 92,455.41 0.00
OC 0.00 1,649,774.99 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 0.00 370,510,227.91 9,574,638.32 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-1 140,129,000.00 126,061,160.17 135,352.02 1,759,421.54 0.00 0.00
A-2 75,577,000.00 36,672,008.13 149,790.65 5,035,151.17 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 1,299,192.33 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 428,913,644.29 377,239,360.63 285,142.67 6,794,572.71 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 1,894,773.56 124,166,386.61 0.88608630 1,894,773.56
A-2 5,184,941.82 31,487,066.31 0.41662234 5,184,941.82
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 1,649,774.99 2,560.60933741 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 7,079,715.38 370,510,227.91 0.86383409 7,079,715.38
</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-1 140,129,000.00 899.60793390 0.96591013 12.55572751 0.00000000
A-2 75,577,000.00 485.22709462 1.98196078 66.62279754 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 2016471.35606637 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 13.52163763 886.08629627 0.88608630 13.52163763
A-2 0.00000000 68.60475833 416.62233629 0.41662234 68.60475833
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 2,560,609.3374101 2560.60933741 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% 126,061,160.17 744,811.35 0.00 0.00
A-2 75,577,000.00 5.68000% 36,672,008.13 179,366.87 0.00 0.00
A-3 157,000,000.00 5.89000% 157,000,000.00 796,295.28 0.00 0.00
M-1 26,119,000.00 6.44000% 26,119,000.00 144,844.37 0.00 0.00
M-2 17,187,000.00 6.99000% 17,187,000.00 103,451.42 0.00 0.00
M-3 3,878,000.00 6.89000% 3,878,000.00 23,008.39 0.00 0.00
B 9,023,000.00 8.24000% 9,023,000.00 64,023.20 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% 1,299,192.33 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 2,402,467.55 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>
IO 0.00 0.00 346,666.67 0.00 19,900,000.00
A-1 0.00 0.00 744,811.35 0.00 124,166,386.61
A-2 0.00 0.00 179,366.87 0.00 31,487,066.31
A-3 0.00 0.00 796,295.27 0.00 157,000,000.00
M-1 0.00 0.00 144,844.36 0.00 26,119,000.00
M-2 0.00 0.00 103,451.42 0.00 17,187,000.00
M-3 0.00 0.00 23,008.39 0.00 3,878,000.00
B 0.00 0.00 64,023.20 0.00 9,023,000.00
X 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 92,455.41 0.00 0.00
OC 0.00 0.00 0.00 0.00 1,649,774.99
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 2,494,922.94 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% 899.60793390 5.31518351 0.00000000 0.00000000
A-2 75,577,000.00 5.68000% 485.22709462 2.37329968 0.00000000 0.00000000
A-3 157,000,000.00 5.89000% 1000.00000000 5.07194446 0.00000000 0.00000000
M-1 26,119,000.00 6.44000% 1000.00000000 5.54555573 0.00000000 0.00000000
M-2 17,187,000.00 6.99000% 1000.00000000 6.01916681 0.00000000 0.00000000
M-3 3,878,000.00 6.89000% 1000.00000000 5.93305570 0.00000000 0.00000000
B 9,023,000.00 8.24000% 1000.00000000 7.09555580 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% 2016471.35606637 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 382.69230769
A-1 0.00000000 0.00000000 5.31518351 0.00000000 886.08629627
A-2 0.00000000 0.00000000 2.37329968 0.00000000 416.62233629
A-3 0.00000000 0.00000000 5.07194439 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 5.54555534 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 6.01916681 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 5.93305570 0.00000000 1000.00000000
B 0.00000000 0.00000000 7.09555580 0.00000000 1000.00000000
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 231138525000.000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 2560609.33741017
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 9,738,442.00
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 9,738,442.00
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 163,803.68
Payment of Interest and Principal 9,574,638.32
Total Withdrawals (Pool Distribution Amount) 9,738,442.00
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 157,183.05
Trustee Fee - First National Bank of Chicago 333.33
Master Servicing Fee 6,287.30
Special Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 163,803.68
</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 38 3,665,549.12 1.110462% 0.989325%
60 Days 8 576,764.04 0.233781% 0.155668%
90+ Days 16 1,621,239.73 0.467563% 0.437569%
Foreclosure 89 8,147,843.00 2.600818% 2.199087%
REO 5 535,322.78 0.146113% 0.144483%
Totals 156 14,546,718.67 4.558738% 3.926131%
</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
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description 6 Month LIBOR ARM
Weighted Average Gross Coupon 9.278525%
Weighted Average Net Coupon 8.937958%
Weighted Average Pass-Through Rate 8.916515%
Weighted Average Maturity(Stepdown Calculation ) 309
Beginning Scheduled Collateral Loan Count 3,481
Number Of Loans Paid In Full 59
Ending Scheduled Collateral Loan Count 3,422
Beginning Scheduled Collateral Balance 377,239,360.64
Ending Scheduled Collateral Balance 370,510,227.91
Ending Actual Collateral Balance at 30-Nov-1999 370,810,067.36
Monthly P &I Constant 3,201,996.58
Ending Scheduled Balance for Premium Loans 370,510,227.91
Scheduled Principal 285,142.67
Unscheduled Principal 6,443,990.06
</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 9.393676 9.204437
Weighted Average Net Rate 8.873676 8.684437
Weighted Average Maturity 273.00 331.00
Beginning Loan Count 1,690 1,791 3,481
Loans Paid In Full 19 40 59
Ending Loan Count 1,671 1,751 3,422
Beginning Scheduled Balance 147,690,303.85 229,549,056.79 377,239,360.64
Ending scheduled Balance 145,934,759.78 224,575,468.13 370,510,227.91
Record Date 11/30/99 11/30/99
Principal And Interest Constant 1,291,481.07 1,910,515.51 3,201,996.58
Scheduled Principal 135,352.02 149,790.65 285,142.67
Unscheduled Principal 1,620,192.05 4,823,798.01 6,443,990.06
Scheduled Interest 1,156,129.05 1,760,724.86 2,916,853.91
Servicing Fees 61,537.60 95,645.45 157,183.05
Master Servicing Fees 2,461.49 3,825.81 6,287.30
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 1,092,129.96 1,661,253.60 2,753,383.56
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 20,195.79 0.00 20,195.79
</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 2,233,483.21 324,014.59 532,888.36 2,926,916.59 195,418.36 1,454,546.87
Percentage Of Balanc 1.530% 0.222% 0.365% 2.006% 0.134% 0.997%
Loan Count 25 4 8 37 2 21
Percentage Of Loans 1.496% 0.239% 0.479% 2.214% 0.120% 1.257%
2 Principal Balance 1,432,065.91 252,749.45 1,088,351.37 5,220,926.41 339,904.42 2,381,136.03
Percentage Of Balanc 0.638% 0.113% 0.485% 2.325% 0.151% 1.060%
Loan Count 13 4 8 52 3 24
Percentage Of Loans 0.742% 0.228% 0.457% 2.970% 0.171% 1.371%
Totals:Principal Balance 3,665,549.12 576,764.04 1,621,239.73 8,147,843.00 535,322.78 3,835,682.90
Percentage of Balanc 0.989% 0.156% 0.438% 2.199% 0.144% 1.035%
Loan Count 38 8 16 89 5 45
Percentage Of Loans 1.110% 0.234% 0.468% 2.601% 0.146% 1.315%
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