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Previous: DATA RETURN CORP, S-1MEF, 1999-10-27 |
Next: DELTA FUNDING HOME EQUITY LOAN TR 1999-2 HOME EQU LOAN ASS B, 8-K, 1999-10-27 |
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 15, 1999
DELTA FUNDING CORPORATION
Home Equity Loan Asset-Backed Certs., Series 1999-2 Trust
New York (governing law of 333-51545-04 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 October 15, 1999 a distribution was made to holders of DELTA FUNDING
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
October 15, 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.
DELTA FUNDING CORPORATION
Home Equity Loan Asset-Backed Certs., Series 1999-2 Trust
By: Norwest Bank Minnesota, N.A., as Administrator
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 10/25/99
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
October 15, 1999 distribution.
<TABLE>
<CAPTION>
Delta Funding Corporation
Mortgage Pass-Through Certificates
Record Date: 9/30/99
Distribution Date: 10/15/99
DFH Series: 1999-2
Contact: Customer Service - Columbia, MD
Norwest Bank Minnesota, N.A.
Securities Administration Services
11000 Broken Land Parkway
Columbia, MD 21044
Telephone: (301) 815-6600
Fax: (410) 884-2369
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-1F 24763LFG0 SEN_FI 6.14000% 117,204,225.12 599,694.95 3,185,704.76
A-2F 24763LFH8 SEN_FI 6.50000% 56,861,000.00 307,997.08 0.00
A-3F 24763LFJ4 SEN_FI 6.58000% 27,651,000.00 151,619.65 0.00
A-4F 24763LFK1 SEN_FI 6.83000% 18,534,000.00 105,489.35 0.00
A-5F 24763LFL9 SEN_FI 7.07000% 21,609,000.00 127,313.02 0.00
A-6F 24763LFM7 SEN_FI 7.37000% 32,569,000.00 200,027.94 0.00
A-7F 24763LFN5 SEN_FI 7.03000% 37,000,000.00 216,758.33 0.00
IOF 24763LFT2 SEN_NT 6.00000% 0.00 539,645.00 0.00
A-1A 24763LFS4 SEN_FT 5.70000% 49,043,814.98 232,958.12 501,685.79
M-1 24763LFP0 SEN_FI 7.37000% 17,850,000.00 109,628.75 0.00
M-2 24763LFQ8 SEN_FI 7.37000% 17,850,000.00 109,628.75 0.00
B 24763LFR6 JUN_FI 7.37000% 16,800,000.00 103,180.00 0.00
BIO DFH992BIO JUN_FI 0.00000% 0.00 0.00 0.00
P DFH99200P JUN_FI 0.00000% 100.00 48,324.63 0.00
R-1 DFH9902R1 JUN_RE 0.00000% 0.00 0.00 0.00
R-2 DFH9902R2 JUN_RE 0.00000% 0.00 0.00 0.00
R-3 DFH9902R3 JUN_RE 0.00000% 0.00 0.00 0.00
Totals 412,972,140.10 2,852,265.57 3,687,390.55
</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-1F 0.00 114,018,520.36 3,785,399.71 0.00
A-2F 0.00 56,861,000.00 307,997.08 0.00
A-3F 0.00 27,651,000.00 151,619.65 0.00
A-4F 0.00 18,534,000.00 105,489.35 0.00
A-5F 0.00 21,609,000.00 127,313.02 0.00
A-6F 0.00 32,569,000.00 200,027.94 0.00
A-7F 0.00 37,000,000.00 216,758.33 0.00
IOF 0.00 0.00 539,645.00 0.00
A-1A 0.00 48,542,129.19 734,643.91 0.00
M-1 0.00 17,850,000.00 109,628.75 0.00
M-2 0.00 17,850,000.00 109,628.75 0.00
B 0.00 16,800,000.00 103,180.00 0.00
BIO 0.00 0.00 0.00 0.00
P 0.00 100.00 48,324.63 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00
Totals 0.00 409,284,749.55 6,539,656.12 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>
A-1F 123,276,000.00 117,204,225.12 361,366.79 2,824,337.97 0.00 0.00
A-2F 56,861,000.00 56,861,000.00 0.00 0.00 0.00 0.00
A-3F 27,651,000.00 27,651,000.00 0.00 0.00 0.00 0.00
A-4F 18,534,000.00 18,534,000.00 0.00 0.00 0.00 0.00
A-5F 21,609,000.00 21,609,000.00 0.00 0.00 0.00 0.00
A-6F 32,569,000.00 32,569,000.00 0.00 0.00 0.00 0.00
A-7F 37,000,000.00 37,000,000.00 0.00 0.00 0.00 0.00
IOF 0.00 0.00 0.00 0.00 0.00 0.00
A-1A 50,000,000.00 49,043,814.98 22,539.11 479,146.68 0.00 0.00
M-1 17,850,000.00 17,850,000.00 0.00 0.00 0.00 0.00
M-2 17,850,000.00 17,850,000.00 0.00 0.00 0.00 0.00
B 16,800,000.00 16,800,000.00 0.00 0.00 0.00 0.00
BIO 0.00 0.00 0.00 0.00 0.00 0.00
P 100.00 100.00 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
R-3 0.00 0.00 0.00 0.00 0.00 0.00
Totals 420,000,100.00 412,972,140.10 383,905.90 3,303,484.65 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-1F 3,185,704.76 114,018,520.36 0.92490444 3,185,704.76
A-2F 0.00 56,861,000.00 1.00000000 0.00
A-3F 0.00 27,651,000.00 1.00000000 0.00
A-4F 0.00 18,534,000.00 1.00000000 0.00
A-5F 0.00 21,609,000.00 1.00000000 0.00
A-6F 0.00 32,569,000.00 1.00000000 0.00
A-7F 0.00 37,000,000.00 1.00000000 0.00
IOF 0.00 0.00 0.00000000 0.00
A-1A 501,685.79 48,542,129.19 0.97084258 501,685.79
M-1 0.00 17,850,000.00 1.00000000 0.00
M-2 0.00 17,850,000.00 1.00000000 0.00
B 0.00 16,800,000.00 1.00000000 0.00
BIO 0.00 0.00 0.00000000 0.00
P 0.00 100.00 1.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
R-3 0.00 0.00 0.00000000 0.00
Totals 3,687,390.55 409,284,749.55 0.97448727 3,687,390.55
</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-1F 123,276,000.00 950.74649664 2.93136369 22.91068797 0.00000000
A-2F 56,861,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3F 27,651,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4F 18,534,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5F 21,609,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-6F 32,569,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-7F 37,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
IOF 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1A 50,000,000.00 980.87629960 0.45078220 9.58293360 0.00000000
M-1 17,850,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 17,850,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 16,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
BIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 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
R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All denominations are Per $1000
</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-1F 0.00000000 25.84205166 924.90444499 0.92490444 25.84205166
A-2F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-3F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-4F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-5F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-6F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-7F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
IOF 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1A 0.00000000 10.03371580 970.84258380 0.97084258 10.03371580
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
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 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
R-3 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-1F 123,276,000.00 6.14000% 117,204,225.12 599,694.95 0.00 0.00
A-2F 56,861,000.00 6.50000% 56,861,000.00 307,997.08 0.00 0.00
A-3F 27,651,000.00 6.58000% 27,651,000.00 151,619.65 0.00 0.00
A-4F 18,534,000.00 6.83000% 18,534,000.00 105,489.35 0.00 0.00
A-5F 21,609,000.00 7.07000% 21,609,000.00 127,313.03 0.00 0.00
A-6F 32,569,000.00 7.37000% 32,569,000.00 200,027.94 0.00 0.00
A-7F 37,000,000.00 7.03000% 37,000,000.00 216,758.33 0.00 0.00
IOF 0.00 6.00000% 107,929,000.00 539,645.00 0.00 0.00
A-1A 50,000,000.00 5.70000% 49,043,814.98 232,958.12 0.00 0.00
M-1 17,850,000.00 7.37000% 17,850,000.00 109,628.75 0.00 0.00
M-2 17,850,000.00 7.37000% 17,850,000.00 109,628.75 0.00 0.00
B 16,800,000.00 7.37000% 16,800,000.00 103,180.00 0.00 0.00
BIO 0.00 0.00000% 0.00 0.00 0.00 0.00
P 100.00 0.00000% 100.00 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
R-3 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 420,000,100.00 2,803,940.95 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-1F 0.00 0.00 599,694.95 0.00 114,018,520.36
A-2F 0.00 0.00 307,997.08 0.00 56,861,000.00
A-3F 0.00 0.00 151,619.65 0.00 27,651,000.00
A-4F 0.00 0.00 105,489.35 0.00 18,534,000.00
A-5F 0.00 0.00 127,313.02 0.00 21,609,000.00
A-6F 0.00 0.00 200,027.94 0.00 32,569,000.00
A-7F 0.00 0.00 216,758.33 0.00 37,000,000.00
IOF 0.00 0.00 539,645.00 0.00 107,929,000.00
A-1A 0.00 0.00 232,958.12 0.00 48,542,129.19
M-1 0.00 0.00 109,628.75 0.00 17,850,000.00
M-2 0.00 0.00 109,628.75 0.00 17,850,000.00
B 0.00 0.00 103,180.00 0.00 16,800,000.00
BIO 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 48,324.63 0.00 100.00
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 2,852,265.57 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-1F 123,276,000.00 6.14000% 950.74649664 4.86465289 0.00000000 0.00000000
A-2F 56,861,000.00 6.50000% 1000.00000000 5.41666661 0.00000000 0.00000000
A-3F 27,651,000.00 6.58000% 1000.00000000 5.48333333 0.00000000 0.00000000
A-4F 18,534,000.00 6.83000% 1000.00000000 5.69166667 0.00000000 0.00000000
A-5F 21,609,000.00 7.07000% 1000.00000000 5.89166690 0.00000000 0.00000000
A-6F 32,569,000.00 7.37000% 1000.00000000 6.14166662 0.00000000 0.00000000
A-7F 37,000,000.00 7.03000% 1000.00000000 5.85833324 0.00000000 0.00000000
IOF 0.00 6.00000% 967.86892890 4.83934464 0.00000000 0.00000000
A-1A 50,000,000.00 5.70000% 980.87629960 4.65916240 0.00000000 0.00000000
M-1 17,850,000.00 7.37000% 1000.00000000 6.14166667 0.00000000 0.00000000
M-2 17,850,000.00 7.37000% 1000.00000000 6.14166667 0.00000000 0.00000000
B 16,800,000.00 7.37000% 1000.00000000 6.14166667 0.00000000 0.00000000
BIO 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 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
R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All denominations are Per $1000
</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-1F 0.00000000 0.00000000 4.86465289 0.00000000 924.90444499
A-2F 0.00000000 0.00000000 5.41666661 0.00000000 1000.00000000
A-3F 0.00000000 0.00000000 5.48333333 0.00000000 1000.00000000
A-4F 0.00000000 0.00000000 5.69166667 0.00000000 1000.00000000
A-5F 0.00000000 0.00000000 5.89166644 0.00000000 1000.00000000
A-6F 0.00000000 0.00000000 6.14166662 0.00000000 1000.00000000
A-7F 0.00000000 0.00000000 5.85833324 0.00000000 1000.00000000
IOF 0.00000000 0.00000000 4.83934464 0.00000000 967.86892890
A-1A 0.00000000 0.00000000 4.65916240 0.00000000 970.84258380
M-1 0.00000000 0.00000000 6.14166667 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 6.14166667 0.00000000 1000.00000000
B 0.00000000 0.00000000 6.14166667 0.00000000 1000.00000000
BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 483246.30000000 0.00000000 1000.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 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 Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Rate Balance Balance Balance Balance Percentage
Class
<S> <C> <C> <C> <C> <C> <C>
OC 0.00000% 0.00 0.00 0.00 475,411.52 0.00000000%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 6,712,883.24
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 6,712,883.24
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 173,227.12
Payment of Interest and Principal 6,539,656.12
Total Withdrawals (Pool Distribution Amount) 6,712,883.24
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 4,006.76
Servicing Fee Support 4,006.76
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 172,071.72
Admin Fee - Norwest 5,162.16
Supported Prepayment/Curtailment Interest Shortfall 4,006.76
Net Servicing Fee 173,227.12
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Reserve Fund 10,000.00 0.00 0.00 10,000.00
Reserve Fund 10,000.00 0.00 0.00 10,000.00
</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 208 16,042,036.77 4.113924% 3.914982%
60 Days 79 5,102,445.54 1.562500% 1.245227%
90+ Days 53 3,236,043.69 1.048259% 0.789741%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 340 24,380,526.00 6.724684% 5.949950%
</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
Current Period Class A Insufficient Funds 0.00
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 10.044025%
Weighted Average Net Coupon 9.544025%
Weighted Average Pass-Through Rate 9.529023%
Weighted Average Maturity(Stepdown Calculation ) 0
Beginning Scheduled Collateral Loan Count 5,099
Number Of Loans Paid In Full 43
Ending Scheduled Collateral Loan Count 5,056
Beginning Scheduled Collateral Balance 412,972,140.84
Ending Scheduled Collateral Balance 409,760,161.06
Ending Actual Collateral Balance at 30-Sep-1999 410,406,080.68
Monthly P &I Constant 3,840,491.48
Ending Scheduled Balance for Premium Loans 409,760,161.06
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 475,410.74
Overcollateralized reduction Amount 0.00
Specified O/C Amount 4,830,000.00
Overcollateralized Amount 475,511.52
Overcollateralized Deficiency Amount 4,829,899.22
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 475,410.74
Excess Cash Amount 475,410.74
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Group F Curtailments 34,750.79
Group A Curtailments 2,205.79
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2 Total
Collateral Description Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 10.017257 10.240781
Weighted Average Net Rate 9.502257 9.725781
Weighted Average Maturity 315.00 355.00
Beginning Loan Count 4,503 596 5,099
Loans Paid In Full 36 7 43
Ending Loan Count 4,467 589 5,056
Beginning Scheduled Balance 363,516,515.35 49,455,625.49 412,972,140.84
Ending scheduled Balance 360,774,532.21 48,985,628.85 409,760,161.06
Record Date 9/30/99 9/30/99
Principal And Interest Constant 3,395,898.83 444,592.65 3,840,491.48
Scheduled Principal 361,366.79 22,539.11 383,905.90
Unscheduled Principal 2,380,616.38 447,457.53 2,828,073.91
Scheduled Interest 3,034,532.04 422,053.54 3,456,585.58
Servicing Fees 151,465.21 20,606.51 172,071.72
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 4,543.96 618.20 5,162.16
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 2,878,522.87 400,828.83 3,279,351.70
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 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 12,650,137.65 4,049,746.69 2,722,970.69 0.00 0.00 361,160.59
Percentage Of Balance 3.506% 1.123% 0.755% 0.000% 0.000% 0.100%
Loan Count 172 67 43 0 0 5
Percentage Of Loans 3.850% 1.500% 0.963% 0.000% 0.000% 0.112%
2 Principal Balance 3,391,899.12 1,052,698.85 513,073.00 0.00 0.00 252,177.24
Percentage Of Balance 6.924% 2.149% 1.047% 0.000% 0.000% 0.515%
Loan Count 36 12 10 0 0 2
Percentage Of Loans 6.112% 2.037% 1.698% 0.000% 0.000% 0.340%
Totals:Principal Balance 16,042,036.77 5,102,445.54 3,236,043.69 0.00 0.00 613,337.83
Percentage of Balance 3.915% 1.245% 0.790% 0.000% 0.000% 0.150%
Loan Count 208 79 53 0 0 7
Percentage Of Loans 4.114% 1.563% 1.048% 0.000% 0.000% 0.138%
</TABLE>
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