Banc One Financial Services Home Equity Loan Trust 1999-2
Monthly Servicing Report
For the Collection & Interest Period Ending 4/30/2000
For Distribution on 05/25/2000
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A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $2,679,316.22
(ii) Principal Collections $1,191,203.42
(iii) Principal Curtailments $238,010.84
(iv) Principal Prepayments in Full $4,641,198.28
(v) Count Principal Prepayments in Full 105
(B) Net Liquidation Proceeds net of related Foreclosure Profits $71,579.14
(C) Insurance Proceeds to extent not included in Net Liquidation Proceeds $0.00
(D) Proceeds from Loan Repurchases or Substitution Adjustments $0.00
(E) Released Mortgaged Property Proceeds $0.00
(F) Other Amounts
(i) Net REO Revenue $0.00
(ii) Compensating Interest $0.00
(iii) Net Loss on Eligible Investments $0.00
(G) Monthly Advance $420,304.30
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $9,241,612.20
(J) Civil Relief Act Shortfall $0.00
(K) Prepayment Interest Shortfall $0.00
B. CURRENT PERIOD DELINQUENCIES & LIQUIDATION LOAN LOSSES
(A) Delinquent Loans, REO, Foreclosures and Bankruptcy Count Amount Percentage
(i) 30-59 Days Delinquent 123 $6,711,064.39 2.303%
(ii) 60-89 Days Delinquent 33 $1,543,874.54 0.530%
(iii) 90 Days or More Delinquent 167 $10,707,694.29 3.675%
(iv) Loans in REO status at end of Collection Period 21 $1,682,761.83 0.577%
(v) Loans in Foreclosure 108 $7,557,648.30 2.594%
(vi) Loans in Bankruptcy or Insolvency Proceedings 84 $5,088,213.64 1.746%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 221 $13,934,330.66 4.782%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 188 $12,390,456.12 4.252%
(B) Liquidation Losses $117,689.09 0.474%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $1,525,985.16
(B) Net Available Distribution Amount $9,066,346.88
(C) Insured or Deficiency Amount (max(0,(A-B)) $0.00
(D) Preference Amount $0.00
(E) Insured Payments (C+D) $0.00
D. CURRENT PERIOD FORMULA PRINCIPAL DISTRIBUTION AMOUNT
(A) Principal Distributable Amount
(i) Total Principal Collections $6,070,412.54
(ii) plus Principal Balance of Liquidated Home Equity Loans $189,268.23
(iii) plus Insurance Proceeds received $0.00
(iv) plus Portion of Purchase Price allocable to Principal of Defective Home Equity Loans $0.00
(v) plus Principal Portion of Substitution Adjustments not previously distributed $0.00
(vi) equals Total Principal Distributable Amount $6,259,680.77
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $6,259,680.77
(D) Formula Principal Distribution Amount required to maintain OC $6,259,680.77
(E) Class A-7 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $9,241,612.20
(B) Master Service Fee $124,023.02
(C) Available Funds $9,117,589.18
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $9,117,589.18
F. WATERFALL AMOUNTS REMAINING AVAIL REMAINING TOTAL REMAINING
FUNDS( interest AVAIL FUNDS AVAILABLE FUNDS
only) (principal only)
(A) Trustee Fee and Premium Amount: $2,857,908.41 $6,259,680.77 $9,117,589.18
(i) Trustee Fee $3,348.62 $2,854,559.78
(ii) Premium Amount $47,893.68 $2,806,666.11
(B) Accrued and Unpaid Master Servicing Fee: $0.00 $2,806,666.11
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $416,777.22
(b) Current Monthly Interest Amount Paid $416,777.22
(c) Interest Shortfall $0.00
(ii) Class A-2 Certificate
(a) Current Monthly Interest Amount Due $314,363.10
(b) Current Monthly Interest Amount Paid $314,363.10
(c) Interest Shortfall $0.00
(iii) Class A-3 Certificate
(a) Current Monthly Interest Amount Due $272,875.02
(b) Current Monthly Interest Amount Paid $272,875.02
(c) Interest Shortfall $0.00
(iv) Class A-4 Certificate
(a) Current Monthly Interest Amount Due $91,140.33
(b) Current Monthly Interest Amount Paid $91,140.33
(c) Interest Shortfall $0.00
(v) Class A-5 Certificate
(a) Current Monthly Interest Amount Due $122,643.53
(b) Current Monthly Interest Amount Paid $122,643.53
(c) Interest Shortfall $0.00
(vi) Class A-6 Certificate
(a) Current Monthly Interest Amount Due $75,362.50
(b) Current Monthly Interest Amount Paid $75,362.50
(c) Interest Shortfall $0.00
(vii) Class A-7 Certificate
(a) Current Monthly Interest Amount Due $232,823.47
(b) Current Monthly Interest Amount Paid $232,823.47
(c) Interest Shortfall $0.00
(viii) Total Current Monthly Interest Amount Due $1,525,985.16
(ix) Total Current Montly Interest Amount Paid $1,525,985.16 $1,280,680.95
(x) Total Interest Shortfall $0.00
(D) Unpaid Interest Shortfall and Interest on Unpaid Interest Shortfall:
(i) Class A-1 Certificate
(a) Unpaid Interest Shortfall Due $0.00
(b) Unpaid Interest Shortfall Paid $0.00
(c) Remaining Unpaid Interest Shortalls $0.00
(ii) Class A-2 Certificate
(a) Unpaid Interest Shortfall Due $0.00
(b) Unpaid Interest Shortfall Paid $0.00
(c) Remaining Unpaid Interest Shortalls $0.00
(iii) Class A-3 Certificate
(a) Unpaid Interest Shortfall Due $0.00
(b) Unpaid Interest Shortfall Paid $0.00
(c) Remaining Unpaid Interest Shortalls $0.00
(iv) Class A-4 Certificate
(a) Unpaid Interest Shortfall Due $0.00
(b) Unpaid Interest Shortfall Paid $0.00
(c) Remaining Unpaid Interest Shortalls $0.00
(v) Class A-5 Certificate
(a) Unpaid Interest Shortfall Due $0.00
(b) Unpaid Interest Shortfall Paid $0.00
(c) Remaining Unpaid Interest Shortalls $0.00
(vi) Class A-6 Certificate
(a) Unpaid Interest Shortfall Due $0.00
(b) Unpaid Interest Shortfall Paid $0.00
(c) Remaining Unpaid Interest Shortalls $0.00
(vii) Class A-7 Certificate
(a) Unpaid Interest Shortfall Due $0.00
(b) Unpaid Interest Shortfall Paid $0.00
(c) Remaining Unpaid Interest Shortalls $0.00
(viii) Total Unpaid Interest Shortfall Due $0.00
(ix) Total Unpaid Interest Shortfall Paid $0.00 $1,280,680.95
(x) Total Remaining Unpaid Interest Shortfall $0.00
(E) Monthly Principal Distribution:
(i) Class A-7 Certificate Priority Amount $0.00
(ii) Class A-1 Certificate $6,259,680.77
(iii) Class A-2 Certificate $0.00
(iv) Class A-3 Certificate $0.00
(v) Class A-4 Certificate $0.00
(vi) Class A-5 Certificate $0.00
(vii) Class A-6 Certificate $0.00
(viii) Other Class A-7 Certificate Amounts $0.00
(vi) Total Monthly Principal Distribution $6,259,680.77 $0.00
(F) Reimbursement Amount owed to Certificate Insurer: $0.00 $1,280,680.95
(G) Non Recoverable Advances not previously
reimbursed to Master Servicer: $0.00 $1,280,680.95
(H) Excess Spread: $1,280,680.95
(I) Distributable Excess Spread Allocation:
(i) Class A-1 Certificate $0.00
(ii) Class A-2 Certificate $0.00
(iii) Class A-3 Certificate $0.00
(iv) Class A-4 Certificate $0.00
(v) Class A-5 Certificate $0.00
(vi) Class A-6 Certificate $0.00
(vii) Class A-7 Certificate $0.00
(viii) Total Certificate Distributable Excess Spread $0.00 $1,280,680.95
(J) Other Amounts owed to Certificate Insurer: $0.00 $1,280,680.95
(K) Prepayment Interest Shortfall owed to Certificateholders
(i) Class A-1 Certificate
(a) Prepayment Interest Shortfall Due $0.00
(b) Prepayment Interest Shortfall Paid $0.00
(c) Remaining Prepayment Interest Shortfall $0.00
(ii) Class A-2 Certificate
(a) Prepayment Interest Shortfall Due $0.00
(b) Prepayment Interest Shortfall Paid $0.00
(c) Remaining Prepayment Interest Shortfall $0.00
(iii) Class A-3 Certificate
(a) Prepayment Interest Shortfall Due $0.00
(b) Prepayment Interest Shortfall Paid $0.00
(c) Remaining Prepayment Interest Shortfall $0.00
(iv) Class A-4 Certificate
(a) Prepayment Interest Shortfall Due $0.00
(b) Prepayment Interest Shortfall Paid $0.00
(c) Remaining Prepayment Interest Shortfall $0.00
(v) Class A-5 Certificate
(a) Prepayment Interest Shortfall Due $0.00
(b) Prepayment Interest Shortfall Paid $0.00
(c) Remaining Prepayment Interest Shortfall $0.00
(vi) Class A-6 Certificate
(a) Prepayment Interest Shortfall Due $0.00
(b) Prepayment Interest Shortfall Paid $0.00
(c) Remaining Prepayment Interest Shortfall $0.00
(vii) Class A-7 Certificate
(a) Prepayment Interest Shortfall Due $0.00
(b) Prepayment Interest Shortfall Paid $0.00
(c) Remaining Prepayment Interest Shortfall $0.00
(viii) Total Prepayment Interest Shortfall Due $0.00
(ix) Total Prepayment Interest Shortfall Paid $0.00 $1,280,680.95
(x) Total Remaining Prepayment Interest Shortfall $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00 $1,280,680.95
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00 $1,280,680.95
(iii) Reimbursement of Unreimbursed Monthly Advances $1,280,680.95 $0.00
(M) Other termination/transfer amounts due to Trustee $0.00 $0.00
(N) Amount released to Class R Certificateholder $0.00
G. CALCULATION OF OC TARGET AMOUNT
(A) Twelve Month Average Monthly Loss Rate (Not
applicable until 12th Distribution Date) 0.040%
(B) Is Rolling Twelve Month Loss Rate greater
than Trigger Values? No
(C) Cumulative Loss Rate 0.078%
(D) Is Cumulative Loss Rate greater than 6.50%? No
(E) Has OC Stepdown Date been reached? No
(F) Overcollateralization Target Amount $30,157,340.74
H. COMPARATIVE POOL AND CERTIFICATE CHARACTERISTICS
Begin of End of
Collection Period Collection Period
(A) Certificate Balances and Factors
(i) Class A-1 Certificate Balance $77,419,916.12 $71,160,235.35
(ii) Class A-1 Certificate Factor 0.4219437 0.3878280
(iii) Class A-2 Certificate Balance $56,388,000.00 $56,388,000.00
(iv) Class A-2 Certificate Factor 1.0000000 1.0000000
(v) Class A-3 Certificate Balance $47,183,000.00 $47,183,000.00
(vi) Class A-3 Certificate Factor 1.0000000 1.0000000
(vii) Class A-4 Certificate Balance $15,404,000.00 $15,404,000.00
(viii) Class A-4 Certificate Factor 1.0000000 1.0000000
(ix) Class A-5 Certificate Balance $20,133,000.00 $20,133,000.00
(x) Class A-5 Certificate Factor 1.0000000 1.0000000
(xi) Class A-6 Certificate Balance $12,058,000.00 $12,058,000.00
(xii) Class A-6 Certificate Factor 1.0000000 1.0000000
(xiii) Class A-7 Certificate Balance $38,912,000.00 $38,912,000.00
(xiv) Class A-7 Certificate Factor 1.0000000 1.0000000
(xv) Aggregate Certificate Balance $267,497,916.12 $261,238,235.35
(xvi) Aggregate Certificate Factor 0.7160737 0.6993169
(B) Collateral Pool
(i) Pool Principal Balance $297,655,256.86 $291,395,576.09
(ii) Weighted Average Loan Rate 11.701% 11.684%
(iii) Weighted Average Original Term (months) 213.00 213.00
(iv) Weighted Average Remaining Term (months) 200.63 199.81
(v) Loan Count 5,568 5,459
(vi) 3 Largest Loan Pool Balances $1,101,561.56 $1,096,098.83
(C) Overcollateralization Amount $30,157,340.74 $30,157,340.74
I. MASTER SERVICER TERMINATION & OTHER TRIGGER TESTS
(A) Rolling Twelve Month Loss Rate 0.040%
(B) Is Rolling Twelve Month Loss Rate greater than 4.00%? No
(C) Six Month Average of Pool Delinquency Rate (Not applicable until
6th Distribution Date) 3.901%
(D) Is Rolling Six Month Delinquency Rate greater than 5.00%? No
(E) Has Deposit Event Occurred? No
J. SUMMARY STATEMENT OF AMOUNTS DUE TO CERTIFICATEHOLDERS
Dollars Per $1000 of
Original
Certificate
Principal
(A) Amount of distribution allocable to Current
Monthly Interest & Unpaid Interest Shortfall
(i) Class A-1 Certificate $416,777.22 2.27146353
(ii) Class A-2 Certificate $314,363.10 5.57500000
(iii) Class A-3 Certificate $272,875.02 5.78333333
(iv) Class A-4 Certificate $91,140.33 5.91666667
(v) Class A-5 Certificate $122,643.53 6.09166667
(vi) Class A-6 Certificate $75,362.50 6.25000000
(vii) Class A-7 Certificate $232,823.47 5.98333333
(v) Total $1,525,985.16 4.08495820
(B) Amount of distribution allocable to Formula Principal
Distributable Amount
(i) Class A-1 Certificate $6,259,680.77 34.11567641
(ii) Class A-2 Certificate $0.00 0.00000000
(iii) Class A-3 Certificate $0.00 0.00000000
(iv) Class A-4 Certificate $0.00 0.00000000
(v) Class A-5 Certificate $0.00 0.00000000
(vi) Class A-6 Certificate $0.00 0.00000000
(vii) Class A-7 Certificate $0.00 0.00000000
(v) Total $6,259,680.77 16.75673856
(C) Amount of distribution allocable to Distributable Excess Spread
(i) Class A-1 Certificate $0.00 0.00000000
(ii) Class A-2 Certificate $0.00 0.00000000
(iii) Class A-3 Certificate $0.00 0.00000000
(iv) Class A-4 Certificate $0.00 0.00000000
(v) Class A-5 Certificate $0.00 0.00000000
(vi) Class A-6 Certificate $0.00 0.00000000
(vii) Class A-7 Certificate $0.00 0.00000000
(v) Total $0.00 0.00000000
(D) Amount of distribution allocable to Prepayment Interest Shortfall
(i) Class A-1 Certificate $0.00 0.00000000
(ii) Class A-2 Certificate $0.00 0.00000000
(iii) Class A-3 Certificate $0.00 0.00000000
(iv) Class A-4 Certificate $0.00 0.00000000
(v) Class A-5 Certificate $0.00 0.00000000
(vi) Class A-6 Certificate $0.00 0.00000000
(vii) Class A-7 Certificate $0.00 0.00000000
(v) Total $0.00 0.00000000
(E) Total Principal and Interest Distributed to Certificateholders
(i) Class A-1 Certificate $6,676,457.99 36.38713994
(ii) Class A-2 Certificate $314,363.10 5.57500000
(iii) Class A-3 Certificate $272,875.02 5.78333333
(iv) Class A-4 Certificate $91,140.33 5.91666667
(v) Class A-5 Certificate $122,643.53 6.09166667
(vi) Class A-6 Certificate $75,362.50 6.25000000
(vii) Class A-7 Certificate $232,823.47 5.98333333
(v) Total $7,785,665.93 20.84169676
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