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Previous: MORGAN STANLEY CAPITAL I INC HOME EQ LN AS BK CER SER 1999-2, 8-K, 2001-01-08 |
Next: PAX WORLD HIGH YIELD FUND INC, 497, 2001-01-08 |
Banc One Financial Services Home Equity Loan Trust 1999-2
Monthly Servicing Report
For the Collection & Interest Period Ending 11/30/2000
For Distribution on 12/26/2000
<TABLE>
<S> <C>
A. CURRENT PERIOD COLLECTIONS & OTHER AMOUNTS
(A) Principal and Interest Collections
(i) Interest Collections $2,218,207.22
(ii) Principal Collections $508,835.06
(iii) Principal Curtailments $96,202.47
(iv) Principal Prepayments in Full $5,522,898.76
(v) Count Principal Prepayments in Full 94
(B) Net Liquidation Proceeds net of related Foreclosure Profits $251,601.90
(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 $523,251.54
(H) Termination Price $0.00
(I) Total Collections (A+B+C+D+E+F+G+H) $9,120,996.95
(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 (Incl. REO, FC and Bankruptcies) 244 $12,265,219.81 5.041%
(ii) 60-89 Days Delinquent (Incl. REO, FC and Bankruptcies) 83 $3,560,401.07 1.463%
(iii) 90 Days or More Delinquent (Incl. REO, FC and Bankruptcies) 392 $24,010,732.58 9.868%
(iv) Loans in REO status at end of Collection Period 48 $3,106,263.16 1.277%
(v) Loans in Foreclosure 224 $15,831,324.81 6.506%
(vi) Loans in Bankruptcy or Insolvency Proceedings 139 $7,333,398.56 3.014%
(vii) Total 60+ including REO, Foreclosure & Bankruptcy 475 $27,571,133.65 11.331%
(viii) Total 90+ including REO, Foreclosure & Bankruptcy 392 $24,010,732.58 9.868%
(B) Liquidation Losses / Monthly Loss Rate (Annualized) $606,486.28 2.907%
C. CURRENT PERIOD INSURED PAYMENTS
(A) Required Payments $1,271,136.83
(B) Net Available Distribution Amount $8,974,801.52
(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 $6,127,936.29
(ii) plus Principal Balance of Liquidated Home Equity Loans $858,088.18
(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 $6,986,024.47
(B) Unpaid Principal Shortfall $0.00
(C) Formula Principal Distribution Amount (A+B) $6,986,024.47
(D) Formula Principal Distribution Amount required to maintain OC $6,986,024.47
(E) Class A-7 Priority Amount $0.00
E. CURRENT PERIOD AVAILABLE FUNDS
(A) Total Collections $9,120,996.95
(B) Master Service Fee $104,297.92
(C) Available Funds $9,016,699.03
(D) Insured Payments $0.00
(E) Total Available Funds and Insured Payments $9,016,699.03
F. WATERFALL AMOUNTS
(A) Trustee Fee and Premium Amount:
(i) Trustee Fee $2,816.04
(ii) Premium Amount $39,081.47
(B) Accrued and Unpaid Master Servicing Fee: $0.00
(C) Current Monthly Interest Amounts:
(i) Class A-1 Certificate
(a) Current Monthly Interest Amount Due $161,928.89
(b) Current Monthly Interest Amount Paid $161,928.89
(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 $1,271,136.83
(ix) Total Current Montly Interest Amount Paid $1,271,136.83
(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
(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 $6,986,024.47
(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
(ix) Total Monthly Principal Distribution $6,986,024.47
(F) Reimbursement Amount owed to Certificate Insurer: $0.00
(G) Non Recoverable Advances not previously reimbursed to Master Servicer: $0.00
(H) Excess Spread: $717,640.22
(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
(J) Other Amounts owed to Certificate Insurer: $0.00
(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
(x) Total Remaining Prepayment Interest Shortfall $0.00
(L) Other Amounts owed to Master Servicer
(i) Reimbursement of Compensating Interest $0.00
(ii) Reimbursement of Unreimbursed Servicing Advances $0.00
(iii) Reimbursement of Unreimbursed Monthly Advances $523,251.54
(M) Other termination/transfer amounts due to Trustee $0.00
(N) Amount released to Class R Certificateholder $194,388.68
G. CALCULATION OF OC TARGET AMOUNT
(A) Twelve Month Average Monthly Loss Rate 1.144%
(B) Is Rolling Twelve Month Loss Rate greater than Trigger Values? No
(C) Cumulative Losses / Cumulative Loss Rate $3,040,617.78 0.781%
(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 Collection Period End of Collection Period
(A) Certificate Balances and Factors
(i) Class A-1 Certificate Balance $30,079,669.65 $23,093,645.18
(ii) Class A-1 Certificate Factor 0.1639362 0.1258619
(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 $220,157,669.65 $213,171,645.18
(xvi) Aggregate Certificate Factor 0.5893471 0.5706460
(B) Collateral Pool
(i) Pool Principal Balance $250,315,010.39 $243,328,985.92
(ii) Weighted Average Loan Rate 11.624% 11.627%
(iii) Weighted Average Original Term (months) 213.00 213.00
(iv) Weighted Average Remaining Term (months) 194.71 194.37
(v) Loan Count 4,714 4,595
(vi) 3 Largest Loan Pool Balances $1,087,548.74 $1,086,788.93
(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) 1.144%
(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) 9.500%
(D) Is Rolling Six Month Delinquency Rate greater than 5.00%? Yes
(E) Has Deposit Event Occurred? No
J. SUMMARY STATEMENT OF AMOUNTS DUE TO CERTIFICATEHOLDERS
Per $1000 of Original
(A) Amount of distribution allocable to Current Monthly Interest & Dollars Certificate Principal
Unpaid Interest Shortfall
(i) Class A-1 Certificate $161,928.89 0.88252321
(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
(viii) Total $1,271,136.83 3.40274661
(B) Amount of distribution allocable to Formula Principal Distributable Amount
(i) Class A-1 Certificate $6,986,024.47 38.07429787
(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
(viii) Total $6,986,024.47 18.70111111
(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
(viii) 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
(viii) Total $0.00 0.00000000
(E) Total Principal and Interest Distributed to Certificateholders
(i) Class A-1 Certificate $7,147,953.36 38.95682108
(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
(viii) Total $8,257,161.30 22.10385773
</TABLE>
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