Banc One Financial Services Home Equity Loan Trust 1999-2
Monthly Servicing Report
For the Collection & Interest Period Ending 2/29/2000
For Distribution on 03/27/2000
REVISED 6/15/2000
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A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $2,936,298.89
(ii) Principal Collections $1,304,530.67
(iii) Principal Curtailments $278,945.53
(iv) Principal Prepayments in Full $8,234,728.05
(v) Count Principal Prepayments in Full 150
(B) Net Liquidation Proceeds net of related Foreclosure Profits $53,763.39
(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 $353,018.94
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $13,161,285.47
(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 Bankruptcies Count Amount Percentage
(i) 30-59 Days Delinquent 126 $7,694,868.97 2.502%
(ii) 60-89 Days Delinquent 30 $1,798,267.02 0.585%
(iii) 90 Days or More Delinquent 155 $9,893,896.44 3.217%
(iv) Loans in REO status at end of Collection Period 15 $1,016,199.98 0.330%
(v) Loans in Foreclosure 98 $6,851,553.13 2.228%
(vi) Loans in Bankruptcy or Insolvency Proceedings 70 $4,680,140.89 1.522%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 200 $12,708,363.44 4.132%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 170 $10,910,096.42 3.548%
(B) Liquidation Losses / Monthly Loss Rate (Annualized) $87,455.67 0.331%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $1,638,033.59
(B) Net Available Distribution Amount $12,972,565.75
(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 $9,818,204.25
(ii) plus Principal Balance of Liquidated Home Equity Loans $141,219.06
(iii) plus Insurance Proceeds received $0.00
(iv) plus Portion of Purchase Price allocable to Principal
of Defective Home Equity $0.00
(v) plus Principal Portion of Substitution Adjustments not
previously distributed $0.00
(vi) equals Total Principal Distributable Amount $9,959,423.31
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $9,959,423.31
(D) Formula Principal Distribution Amount required to maintain OC $9,959,423.31
(E) Class A-7 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $13,161,285.47
(B) Master Service Fee $132,290.70
(C) Available Funds $13,028,994.77
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $13,028,994.77
F. WATERFALL AMOUNTS REMAINING AVAIL REMAINING TOTAL REMAINING
FUNDS( interest AVAIL FUNDS AVAILABLE FUNDS
only) (principal only)
(A) Trustee Fee and Premium Amount: $3,069,571.46 $9,959,423.31 $13,028,994.77
(i) Trustee Fee $3,571.85 $3,065,999.61
(ii) Premium Amount $52,857.18 $3,013,142.44
(B) Accrued and Unpaid Master Servicing Fee: $0.00 $3,013,142.44
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $528,825.64
(b) Current Monthly Interest Amount Paid $528,825.64
(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 $1,638,033.59
(ix) Total Current Montly Interest Amount Paid $1,638,033.59 $1,375,108.85
(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 $1,375,108.85
(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 $9,959,423.31
(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 $9,959,423.31 $0.00
(F) Reimbursement Amount owed to Certificate Insurer: $0.00 $1,375,108.85
(G) Non Recoverable Advances not previously reimbursed to
Master Servicer: $0.00 $1,375,108.85
(H) Excess Spread: $1,375,108.85
(I) Distributable Excess Spread Allocation:
(i) Class A-1 Certificate $971,529.11
(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 $971,529.11 $403,579.74
(J) Other Amounts owed to Certificate Insurer: $0.00 $403,579.74
(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 $403,579.74
(x) Total Remaining Prepayment Interest Shortfall $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00 $403,579.74
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00 $403,579.74
(iii) Reimbursement of Unreimbursed Monthly Advances $403,579.74 $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) N/A
(B) Is Rolling Twelve Month Loss Rate greater than Trigger Values? N/A
(C) Cumulative Losses / Cumulative Loss Rate $138,180.10 0.036%
(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 $98,233,865.71 $87,302,913.29
(ii) Class A-1 Certificate Factor 0.5353811 0.4758067
(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 $288,311,865.71 $277,380,913.29
(xvi) Aggregate Certificate Factor 0.7717912 0.7425298
(B) Collateral Pool
(i) Pool Principal Balance $317,497,677.35 $307,538,254.04
(ii) Weighted Average Loan Rate 11.716% 11.704%
(iii) Weighted Average Original Term (months) 213.00 213.00
(iv) Weighted Average Remaining Term (months) 203.23 202.06
(v) Loan Count 5,872 5,724
(vi) 3 Largest Loan Pool Balances $1,125,527.36 $1,124,670.99
(C) Overcollateralization Amount $29,185,811.64 $30,157,340.75
I. MASTER SERVICER TERMINATION & OTHER TRIGGER TESTS
(A) Rolling Twelve Month Loss Rate N/A
(B) Is Rolling Twelve Month Loss Rate greater than 4.00%? N/A
(C) Six Month Average of Pool Delinquency Rate (Not applicable
until 6th Distribution Date) 2.979%
(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 $528,825.64 2.88213492
(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 $1,638,033.59 4.38490421
(B) Amount of distribution allocable to Formula Principal Distributable Amount
(i) Class A-1 Certificate $9,959,423.31 54.27951925
(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 $9,959,423.31 26.66069705
(C) Amount of distribution allocable to Distributable Excess Spread
(i) Class A-1 Certificate $971,529.11 5.29489826
(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 $971,529.11 2.60071718
(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 $11,459,778.07 62.45655243
(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 $12,568,986.01 33.64631844
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