Banc One Financial Services Home Equity Loan Trust 1999-2
Monthly Servicing Report
For the Collection & Interest Period Ending 5/31/2000
For Distribution on 06/26/2000
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A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $2,584,437.72
(ii) Principal Collections $842,616.02
(iii) Principal Curtailments $409,002.43
(iv) Principal Prepayments in Full $6,020,287.46
(v) Count Principal Prepayments in Full 123
(B) Net Liquidation Proceeds net of related Foreclosure Profits $45,124.39
(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 $416,362.21
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $10,317,830.23
(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 135 $7,337,537.95 2.583%
(ii) 60-89 Days Delinquent 30 $1,383,070.26 0.487%
(iii) 90 Days or More Delinquent 170 $10,304,549.96 3.628%
(iv) Loans in REO status at end of Collection Period 26 $2,204,281.91 0.776%
(v) Loans in Foreclosure 104 $7,288,100.19 2.566%
(vi) Loans in Bankruptcy or Insolvency Proceedings 80 $4,292,430.25 1.511%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 226 $13,891,902.13 4.891%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 196 $12,508,831.87 4.404%
(B) Liquidation Losses / Monthly Loss Rate (Annualized) $49,068.44 0.202%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $1,492,287.21
(B) Net Available Distribution Amount $10,146,593.98
(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 $7,271,905.91
(ii) plus Principal Balance of Liquidated Home Equity Loans $94,192.83
(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 $7,366,098.74
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $7,366,098.74
(D) Formula Principal Distribution Amount required to maintain OC $7,366,098.74
(E) Class A-7 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $10,317,830.23
(B) Master Service Fee $121,414.82
(C) Available Funds $10,196,415.41
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $10,196,415.41
F. WATERFALL AMOUNTS REMAINING AVAIL REMAINING TOTAL REMAINING
FUNDS( interest AVAIL FUNDS AVAILABLE FUNDS
only) (principal only)
(A) Trustee Fee and Premium Amount: $2,830,316.67 $7,366,098.74 $10,196,415.41
(i) Trustee Fee $3,278.20 $2,827,038.47
(ii) Premium Amount $46,543.23 $2,780,495.24
(B) Accrued and Unpaid Master Servicing Fee: $0.00 $2,780,495.24
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $383,079.27
(b) Current Monthly Interest Amount Paid $383,079.27
(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 $1,492,287.21
(ix) Total Current Montly Interest Amount Paid $1,492,287.21 $1,288,208.03
(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 $1,288,208.03
(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 $7,366,098.74
(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 $7,366,098.74 $0.00
(F) Reimbursement Amount owed to Certificate Insurer: $0.00 $1,288,208.03
(G) Non Recoverable Advances not previously reimbursed to
Master Servicer: $0.00 $1,288,208.03
(H) Excess Spread: $1,288,208.03
(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 $1,288,208.03
(J) Other Amounts owed to Certificate Insurer: $0.00 $1,288,208.03
(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 $1,288,208.03
(x) Total Remaining Prepayment Interest Shortfall $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00 $1,288,208.03
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00 $1,288,208.03
(iii) Reimbursement of Unreimbursed Monthly
Advances $813,736.03 $474,472.00
(M) Other termination/transfer amounts due to Trustee $0.00 $474,472.00
(N) Amount released to Class R Certificateholder $474,472.00
G. CALCULATION OF OC TARGET AMOUNT
(A) Twelve Month Average Monthly Loss Rate
(Not applicable until 12th Distribution Date) 0.115%
(B) Is Rolling Twelve Month Loss Rate
greater than Trigger Values? No
(C) Cumulative Losses / Cumulative Loss Rate $352,057.97 0.090%
(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 $71,160,235.35 $63,794,136.61
(ii) Class A-1 Certificate Factor 0.3878280 0.3476823
(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 $261,238,235.35 $253,872,136.61
(xvi) Aggregate Certificate Factor 0.6993169 0.6795984
(B) Collateral Pool
(i) Pool Principal Balance $291,395,576.09 $284,029,477.35
(ii) Weighted Average Loan Rate 11.684% 11.671%
(iii) Weighted Average Original Term (months) 213.00 213.00
(iv) Weighted Average Remaining Term (months) 199.81 199.09
(v) Loan Count 5,459 5,334
(vi) 3 Largest Loan Pool Balances $1,096,098.83 $1,093,569.73
(C) Overcollateralization Amount $30,157,340.74 $30,157,340.74
I. MASTER SERVICER TERMINATION & OTHER TRIGGER TESTS
(A) Twelve Month Average Monthly Loss Rate (Not applicable until 12th Distribution Date) 0.115%
(B) Is Rolling Twelve Month Loss Rate greater than Trigger Values No
(C) Six Month Average of Pool Delinquency Rate (Not applicable until 6th Distribution Date) 4.230%
(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
(i) Class A-1 Certificate $383,079.27 2.08780748
(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 $1,492,287.21 3.99475110
(B) Amount of distribution allocable to Formula Principal Distributable Amount
(i) Class A-1 Certificate $7,366,098.74 40.14572791
(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 $7,366,098.74 19.71854402
(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 $7,749,178.01 42.23353539
(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 $8,858,385.95 23.71329511
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