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Previous: INTERSPEED INC, 8-A12G, 1999-09-21 |
Next: DIGIMARC CORP, S-1, 1999-09-21 |
<PAGE> 1
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) AUGUST 25, 1999.
----------------
Fremont Home Loan Owner Trust Series 1999-2
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-61785 52-2182286
- --------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
c/o First Union National Bank, 230 S. Tryon Street, 9th Floor,
Charlotte, NC 28288-1179
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (704) 383-9568
--------------
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report.)
<PAGE> 2
Item 5. See the monthly statement to Bondholders attached as Exhibit 20.1 hereto
reflecting the required information for the AUGUST 1999 payment to the Fremont
Home Loan Asset-Backed Notes Series 1999-2
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Item 601 (a) of Regulation.
S-K Exhibit Number.
- -------------------
20.1 Monthly statement to holders of Fremont Home Loan Asset-Backed Notes Series
1999-2 relating to the AUGUST 25, 1999 Payment Date.
-2-
<PAGE> 3
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on behalf of Fremont
Home Loan Owner Trust Series 1999-2 by the undersigned thereunto duly
authorized.
Dated: SEPTEMBER 21, 1999 By: First Union National Bank, as Indenture
Trustee and on behalf of Fremont Home
Loan Owner Trust Series 1999-2
BY: Robert Ashbaugh
---------------
Vice President
-3-
<PAGE> 4
EXHIBIT INDEX
20.1 Monthly statement to holders of Fremont Home Loan Asset-Backed Notes Series
1999-2 relating to the AUGUST 25, 1999 Payment Date.
-4-
<PAGE> 1
[FIRST UNION LOGO]
FREMONT HOME LOAN OWNER TRUST 1999-1
STATEMENT TO CERTIFICATEHOLDER
<TABLE>
<CAPTION>
RECORD DATE: 7/31/99
PREVIOUS DISTRIBUTION: 7/26/99
DISTRIBUTION DATE: 8/25/99
====================================================================================================================================
Original Beginning Ending
Certificate Certificate Certificate Total Certificate
Class Cusip Rate Balance Balance Interest Principal Distribution Balance
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 7.2800% 79,823,236.00 79,182,994.14 480,376.83 836,748.49 1,317,125.32 78,346,245.65
Factors per
Thousand 6.01800746 10.48251777 16.50052524 981.49673674
- ------------------------------------------------------------------------------------------------------------------------------------
A-2 5.4275% 342,523,735.00 339,904,694.67 1,537,360.61 4,220,974.75 5,758,335.36 335,683,719.92
Factors per
Thousand 4.48833308 12.32315988 16.81149296 980.03053692
- ------------------------------------------------------------------------------------------------------------------------------------
A-3 5.4775% 73,145,197.00 71,794,388.20 327,711.47 1,802,230.82 2,129,942.29 69,992,157.38
Factors per
Thousand 4.48028693 24.63908628 29.11937321 956.89341544
- ------------------------------------------------------------------------------------------------------------------------------------
R 0.0000% 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 495,492,168.00 490,882,077.01 2,345,448.91 6,859,954.06 9,205,402.97 484,022,122.95
- ------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
230 South Tryon Street, 9th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
</TABLE>
<PAGE> 2
[FIRST UNION LOGO]
FREMONT HOME LOAN OWNER TRUST 1999-1
STATEMENT TO CERTIFICATEHOLDER
<TABLE>
<CAPTION>
RECORD DATE: 7/31/99
PREVIOUS DISTRIBUTION: 7/26/99
DISTRIBUTION DATE: 8/25/99
====================================================================================================================================
POOL 1
SCHEDULE OF REMITTANCE POOL INFORMATION
<S> <C> <S> <C>
Available Collection Amount 1,362,478.55 Aggregate Beginning Balance of Loans 79,323,464.36
(Trust Fees and Expenses) (45,353.23) Aggregate Ending Balance of Loans 78,630,565.38
Available Payment Amount 1,317,125.32 Interest Carry-Forward 0.00
Regular Payment 1,173,275.81 Loan Count 942
Excess Spread 143,849.51 Overcollateralization Amount 284,319.73
------------- Overcollateralization Deficiency Amount 2,709,051.62
Overcollateralization Deficit Amount 0.00
Overcollateralization Reduction Amount 0.00
FEES Overcollateralization Target Amount 2,993,371.35
- ---- Prepayment Penalties 0.00
Servicer Fee 23,136.01 Principal Prepayments 635,367.05
Master Servicer Fee 9,915.43 Scheduled Principal 57,531.93
Indenture Trustee Fee 429.67 Securities Insurer Reimbursement 0.00
Guaranty Insurance Premium 11,872.12 Weighted Average Home Loan Interest Rate (WAC) 10.1284%
------------- Weighted Average Maturity (WAM) 282.00
TOTAL FEES 45,353.23
AGGREGATE INFORMATION
Annual Loss Percentage 0.0000%
OC Trigger Increase Event? No
Realized Losses - Cumulative 0.00
Realized Losses % 0.0000%
Three Month Average Delinquency 0.1036%
====================================================================================================================================
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
230 South Tryon Street, 9th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
</TABLE>
<PAGE> 3
[FIRST UNION LOGO]
FREMONT HOME LOAN OWNER TRUST 1999-1
STATEMENT TO CERTIFICATEHOLDER
<TABLE>
<CAPTION>
RECORD DATE: 7/31/99
PREVIOUS DISTRIBUTION: 7/26/99
DISTRIBUTION DATE: 8/25/99
====================================================================================================================================
POOL 2
SCHEDULE OF REMITTANCE POOL INFORMATION
<S> <C> <S> <C>
Available Collection Amount 5,953,208.15 Aggregate Beginning Balance of Loans 340,949,030.80
(Trust Fees and Expenses) (194,872.79) Aggregate Ending Balance of Loans 337,843,007.20
Available Payment Amount 5,758,335.36 Interest Carry-Forward 0.00
Regular Payment 4,643,384.20 Loan Count 3,325
Excess Spread 1,114,951.17 Overcollateralization Amount 2,159,287.28
------------- Overcollateralization Deficiency Amount 13,254,280.80
Overcollateralization Deficit Amount 0.00
Overcollateralization Reduction Amount 0.00
FEES Overcollateralization Target Amount 15,413,568.08
- ---- Prepayment Penalties 0.00
Servicer Fee 99,443.47 Principal Prepayments 2,946,363.01
Master Servicer Fee 42,618.63 Scheduled Principal 159,660.58
Indenture Trustee Fee 1,846.81 Securities Insurer Reimbursement 0.00
Guaranty Insurance Premium 50,963.88 Spread Squeeze % 3.9242%
------------- Weighted Average Home Loan Interest Rate (WAC) 10.0140%
TOTAL FEES 194,872.79 Weighted Average Maturity (WAM) 355.00
====================================================================================================================================
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
230 South Tryon Street, 9th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
</TABLE>
<PAGE> 4
[FIRST UNION LOGO]
FREMONT HOME LOAN OWNER TRUST 1999-1
STATEMENT TO CERTIFICATEHOLDER
<TABLE>
<CAPTION>
RECORD DATE: 7/31/99
PREVIOUS DISTRIBUTION: 7/26/99
DISTRIBUTION DATE: 8/25/99
====================================================================================================================================
POOL 3
SCHEDULE OF REMITTANCE POOL INFORMATION
<S> <C> <S> <C>
Available Collection Amount 2,171,082.87 Aggregate Beginning Balance of Loans 71,982,650.83
(Trust Fees and Expenses) (41,140.58) Aggregate Ending Balance of Loans 70,380,816.86
Available Payment Amount 2,129,942.29 Interest Carry-Forward 0.00
Regular Payment 1,929,545.46 Loan Count 237
Excess Spread 200,396.83 Overcollateralization Amount 388,659.48
------------- Overcollateralization Deficiency Amount 2,902,874.39
Overcollateralization Deficit Amount 0.00
Overcollateralization Reduction Amount 0.00
FEES Overcollateralization Target Amount 3,291,533.87
- ---- Prepayment Penalties 0.00
Servicer Fee 20,994.94 Principal Prepayments 3,128,455.66
Master Servicer Fee 8,997.83 Scheduled Principal 37,280.59
Indenture Trustee Fee 389.91 Securities Insurer Reimbursement 0.00
Guaranty Insurance Premium 10,757.90 Spread Squeeze % 3.3408%
------------- Weighted Average Home Loan Interest Rate (WAC) 9.4791%
TOTAL FEES 41,140.58 Weighted Average Maturity (WAM) 355.00
====================================================================================================================================
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
230 South Tryon Street, 9th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
</TABLE>
<PAGE> 5
[FIRST UNION LOGO]
FREMONT HOME LOAN OWNER TRUST 1999-1
STATEMENT TO CERTIFICATEHOLDER
<TABLE>
<CAPTION>
RECORD DATE: 7/31/99
PREVIOUS DISTRIBUTION: 7/26/99
DISTRIBUTION DATE: 8/25/99
====================================================================================================================================
POOL 1
- --------------------------------- ----------------------------------------------------------------------------------------
Aggregate Ending Balance of Loans DELINQUENT INFOR. # LOANS AMOUNT %
- --------------------------------- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
$ 78,630,565.38 Delinquent 30-59 Days 7 539,674.72 0.686342%
- --------------------------------- Delinquent 60-89 Days 3 243,495.43 0.309670%
Delinquent 90+ Days 2 209,202.39 0.266057%
REO 0 0.00 0.000000%
Loans in Foreclosure 0 0.00 0.000000%
Loans in Bankruptcy 1 74,574.03 0.094841%
----------------------------------------------------------------------------------------
TOTAL 13 1,066,946.57 1.356911%
----------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
OTHER INFORMATION # LOANS AMOUNT CUMULATIVE
----------------------------------------------------------------------------------------
Defaulted Home Loans 0 0.00 0.00
Liquidated Home Loans 0 0.00 0.00
Deleted Home Loans 0 0.00 0.00
Net Loan Losses 0 0.00 0.00
----------------------------------------------------------------------------------------
====================================================================================================================================
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
230 South Tryon Street, 9th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
</TABLE>
<PAGE> 6
[FIRST UNION LOGO]
FREMONT HOME LOAN OWNER TRUST 1999-1
STATEMENT TO CERTIFICATEHOLDER
<TABLE>
<CAPTION>
RECORD DATE: 7/31/99
PREVIOUS DISTRIBUTION: 7/26/99
DISTRIBUTION DATE: 8/25/99
====================================================================================================================================
POOL 2
- --------------------------------- ---------------------------------------------------------------------------------------
Aggregate Ending Balance of Loans DELINQUENT INFOR. # LOANS AMOUNT %
- --------------------------------- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
$ 337,843,007.20 Delinquent 30-59 Days 16 1,404,129.73 0.415616%
- --------------------------------- Delinquent 60-89 Days 9 749,167.78 0.221750%
Delinquent 90+ Days 4 488,600.46 0.144624%
REO 0 0.00 0.000000%
Loans in Foreclosure 9 816,025.35 0.241540%
Loans in Bankruptcy 2 77,668.24 0.022989%
---------------------------------------------------------------------------------------
TOTAL 40 3,535,591.56 1.046519%
---------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------
OTHER INFORMATION # LOANS AMOUNT CUMULATIVE
---------------------------------------------------------------------------------------
Defaulted Home Loans 9 816,025.35 816,025.35
Liquidated Home Loans 0 0.00 0.00
Deleted Home Loans 0 0.00 0.00
Net Loan Losses 0 0.00 0.00
---------------------------------------------------------------------------------------
====================================================================================================================================
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
230 South Tryon Street, 9th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
</TABLE>
<PAGE> 7
[FIRST UNION LOGO]
FREMONT HOME LOAN OWNER TRUST 1999-1
STATEMENT TO CERTIFICATEHOLDER
<TABLE>
<CAPTION>
RECORD DATE: 7/31/99
PREVIOUS DISTRIBUTION: 7/26/99
DISTRIBUTION DATE: 8/25/99
===================================================================================================================================
POOL 3
- --------------------------------- --------------------------------------------------------------------------------------------
Aggregate Ending Balance of Loans DELINQUENT INFOR. # LOANS AMOUNT %
- --------------------------------- --------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
$ 70,380,816.86 Delinquent 30-59 Days 0 0.00 0.000000%
- --------------------------------- Delinquent 60-89 Days 0 0.00 0.000000%
Delinquent 90+ Days 0 0.00 0.000000%
REO 0 0.00 0.000000%
Loans in Foreclosure 0 0.00 0.000000%
Loans in Bankruptcy 0 0.00 0.000000%
--------------------------------------------------------------------------------------------
TOTAL 0 0.00 0.000000%
--------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------
OTHER INFORMATION # LOANS AMOUNT CUMULATIVE
--------------------------------------------------------------------------------------------
Defaulted Home Loans 0 0.00 0.00
Liquidated Home Loans 0 0.00 0.00
Deleted Home Loans 0 0.00 0.00
Net Loan Losses 0 0.00 0.00
--------------------------------------------------------------------------------------------
====================================================================================================================================
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
230 South Tryon Street, 9th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
</TABLE>
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