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UNITED STATES
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): December 27, 1999
MERRILL LYNCH
Mortgage Pass-Through Certificates, Series 1999-2 Trust
New York (governing law of 333-11588-03 52-2172860
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway 21044
Columbia, Maryland (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
Former name or former address, if changed since last report)
ITEM 5. Other Events
On December 27, 1999 a distribution was made to holders of MERRILL LYNCH,
Mortgage Pass-Through Certificates, Series 1999-2 Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of
Regulation S-K
Exhibit Number Description
Monthly report distributed to holders of
EX-99.1 Mortgage Pass-Through Certificates, Series
1999-2 Trust, relating to the December 27,
1999 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MERRILL LYNCH
Mortgage Pass-Through Certificates, Series 1999-2 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 12/28/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1999-2 Trust, relating to the December 27,
1999 distribution.
<TABLE>
<CAPTION>
Merrill Lynch Mortgage Investors, Inc.
Mortgage Pass-Through Certificates
Record Date: 11/30/99
Distribution Date: 12/27/99
MLC Series: 1999-2
Contact: Customer Service - CTSLink
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
A-1 151314BC4 SEQ 6.50000% 98,621,715.77 534,200.96 771,633.89
A-2 151314BD2 SEQ 6.50000% 13,806,808.00 74,786.88 0.00
A-3 151314BE0 SEQ 6.50000% 20,105,472.93 108,904.65 17,973.49
A-4 151314BF7 SEQ 6.50000% 52,592,003.15 284,873.35 501,130.81
A-5 151314BG5 SEQ 6.50000% 11,457,000.00 62,058.75 0.00
APO 151314BJ9 PO 0.00000% 956,339.20 0.00 1,342.20
A-IO 151314BH3 IO 0.42738% 0.00 62,512.47 0.00
R 151314BK6 R 6.50000% 0.00 0.00 0.00
M 151314BL4 MEZ 6.50000% 4,430,604.07 23,999.11 3,960.78
B-1 151314BM2 SUB 6.50000% 1,898,830.03 10,285.33 1,697.48
B-2 151314BN0 SUB 6.50000% 843,924.68 4,571.26 754.43
B-3 151314BP5 SUB 6.50000% 738,434.34 3,999.85 660.13
B-4 151314BQ3 SUB 6.50000% 421,962.34 2,285.63 377.22
B-5 151314BR1 SUB 6.50000% 632,943.14 3,428.44 565.77
Totals 206,506,037.65 1,175,906.68 1,300,096.20
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
A-1 0.00 97,850,081.89 1,305,834.85 0.00
A-2 0.00 13,806,808.00 74,786.88 0.00
A-3 0.00 20,087,499.44 126,878.14 0.00
A-4 0.00 52,090,872.33 786,004.16 0.00
A-5 0.00 11,457,000.00 62,058.75 0.00
APO 0.00 954,997.00 1,342.20 0.00
A-IO 0.00 0.00 62,512.47 0.00
R 0.00 0.00 0.00 0.00
M 0.00 4,426,643.29 27,959.89 0.00
B-1 0.00 1,897,132.55 11,982.81 0.00
B-2 0.00 843,170.24 5,325.69 0.00
B-3 0.00 737,774.21 4,659.98 0.00
B-4 0.00 421,585.12 2,662.85 0.00
B-5 0.00 632,377.36 3,994.21 0.00
Totals 0.00 205,205,941.43 2,476,002.88 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
A-1 102,000,000.00 98,621,715.77 95,646.85 675,987.04 0.00 0.00
A-2 13,806,808.00 13,806,808.00 0.00 0.00 0.00 0.00
A-3 20,227,768.00 20,105,472.93 17,973.49 0.00 0.00 0.00
A-4 54,786,000.00 52,592,003.15 62,117.00 439,013.81 0.00 0.00
A-5 11,457,000.00 11,457,000.00 0.00 0.00 0.00 0.00
APO 965,563.00 956,339.20 1,117.25 224.95 0.00 0.00
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
R 100.00 0.00 0.00 0.00 0.00 0.00
M 4,457,554.00 4,430,604.07 3,960.78 0.00 0.00 0.00
B-1 1,910,380.00 1,898,830.03 1,697.48 0.00 0.00 0.00
B-2 849,058.00 843,924.68 754.43 0.00 0.00 0.00
B-3 742,926.00 738,434.34 660.13 0.00 0.00 0.00
B-4 424,529.00 421,962.34 377.22 0.00 0.00 0.00
B-5 636,793.00 632,943.14 565.77 0.00 0.00 0.00
Totals 212,264,479.00 206,506,037.65 184,870.40 1,115,225.80 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
A-1 771,633.89 97,850,081.89 0.95931453 771,633.89
A-2 0.00 13,806,808.00 1.00000000 0.00
A-3 17,973.49 20,087,499.44 0.99306554 17,973.49
A-4 501,130.81 52,090,872.33 0.95080627 501,130.81
A-5 0.00 11,457,000.00 1.00000000 0.00
APO 1,342.20 954,997.00 0.98905716 1,342.20
A-IO 0.00 0.00 0.00000000 0.00
R 0.00 0.00 0.00000000 0.00
M 3,960.78 4,426,643.29 0.99306554 3,960.78
B-1 1,697.48 1,897,132.55 0.99306554 1,697.48
B-2 754.43 843,170.24 0.99306554 754.43
B-3 660.13 737,774.21 0.99306554 660.13
B-4 377.22 421,585.12 0.99306554 377.22
B-5 565.77 632,377.36 0.99306582 565.77
Totals 1,300,096.20 205,205,941.43 0.96674650 1,300,096.20
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
A-1 102,000,000.00 966.87956637 0.93771422 6.62732392 0.00000000
A-2 13,806,808.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 20,227,768.00 993.95409963 0.88855528 0.00000000 0.00000000
A-4 54,786,000.00 959.95333023 1.13381156 8.01324809 0.00000000
A-5 11,457,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
APO 965,563.00 990.44723130 1.15709695 0.23297289 0.00000000
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
M 4,457,554.00 993.95409904 0.88855457 0.00000000 0.00000000
B-1 1,910,380.00 993.95409814 0.88855620 0.00000000 0.00000000
B-2 849,058.00 993.95409972 0.88854943 0.00000000 0.00000000
B-3 742,926.00 993.95409502 0.88855418 0.00000000 0.00000000
B-4 424,529.00 993.95409972 0.88856121 0.00000000 0.00000000
B-5 636,793.00 993.95429912 0.88846768 0.00000000 0.00000000
<FN>
(2) Per 1,000 Denomination
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 7.56503814 959.31452833 0.95931453 7.56503814
A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-3 0.00000000 0.88855528 993.06554435 0.99306554 0.88855528
A-4 0.00000000 9.14705965 950.80627040 0.95080627 9.14705965
A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
APO 0.00000000 1.39006983 989.05716147 0.98905716 1.39006983
A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M 0.00000000 0.88855457 993.06554447 0.99306554 0.88855457
B-1 0.00000000 0.88855620 993.06554193 0.99306554 0.88855620
B-2 0.00000000 0.88854943 993.06553851 0.99306554 0.88854943
B-3 0.00000000 0.88855418 993.06554085 0.99306554 0.88855418
B-4 0.00000000 0.88856121 993.06553851 0.99306554 0.88856121
B-5 0.00000000 0.88846768 993.06581574 0.99306582 0.88846768
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A-1 102,000,000.00 6.50000% 98,621,715.77 534,200.96 0.00 0.00
A-2 13,806,808.00 6.50000% 13,806,808.00 74,786.88 0.00 0.00
A-3 20,227,768.00 6.50000% 20,105,472.93 108,904.65 0.00 0.00
A-4 54,786,000.00 6.50000% 52,592,003.15 284,873.35 0.00 0.00
A-5 11,457,000.00 6.50000% 11,457,000.00 62,058.75 0.00 0.00
APO 965,563.00 0.00000% 956,339.20 0.00 0.00 0.00
A-IO 0.00 0.42738% 175,522,812.84 62,512.47 0.00 0.00
R 100.00 6.50000% 0.00 0.00 0.00 0.00
M 4,457,554.00 6.50000% 4,430,604.07 23,999.11 0.00 0.00
B-1 1,910,380.00 6.50000% 1,898,830.03 10,285.33 0.00 0.00
B-2 849,058.00 6.50000% 843,924.68 4,571.26 0.00 0.00
B-3 742,926.00 6.50000% 738,434.34 3,999.85 0.00 0.00
B-4 424,529.00 6.50000% 421,962.34 2,285.63 0.00 0.00
B-5 636,793.00 6.50000% 632,943.14 3,428.44 0.00 0.00
Totals 212,264,479.00 1,175,906.68 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00 0.00 534,200.96 0.00 97,850,081.89
A-2 0.00 0.00 74,786.88 0.00 13,806,808.00
A-3 0.00 0.00 108,904.65 0.00 20,087,499.44
A-4 0.00 0.00 284,873.35 0.00 52,090,872.33
A-5 0.00 0.00 62,058.75 0.00 11,457,000.00
APO 0.00 0.00 0.00 0.00 954,997.00
A-IO 0.00 0.00 62,512.47 0.00 174,259,846.96
R 0.00 0.00 0.00 0.00 0.00
M 0.00 0.00 23,999.11 0.00 4,426,643.29
B-1 0.00 0.00 10,285.33 0.00 1,897,132.55
B-2 0.00 0.00 4,571.26 0.00 843,170.24
B-3 0.00 0.00 3,999.85 0.00 737,774.21
B-4 0.00 0.00 2,285.63 0.00 421,585.12
B-5 0.00 0.00 3,428.44 0.00 632,377.36
Totals 0.00 0.00 1,175,906.68 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A-1 102,000,000.00 6.50000% 966.87956637 5.23726431 0.00000000 0.00000000
A-2 13,806,808.00 6.50000% 1000.00000000 5.41666691 0.00000000 0.00000000
A-3 20,227,768.00 6.50000% 993.95409963 5.38391829 0.00000000 0.00000000
A-4 54,786,000.00 6.50000% 959.95333023 5.19974720 0.00000000 0.00000000
A-5 11,457,000.00 6.50000% 1000.00000000 5.41666667 0.00000000 0.00000000
APO 965,563.00 0.00000% 990.44723130 0.00000000 0.00000000 0.00000000
A-IO 0.00 0.42738% 969.60851168 0.34532618 0.00000000 0.00000000
R 100.00 6.50000% 0.00000000 0.00000000 0.00000000 0.00000000
M 4,457,554.00 6.50000% 993.95409904 5.38391907 0.00000000 0.00000000
B-1 1,910,380.00 6.50000% 993.95409814 5.38391838 0.00000000 0.00000000
B-2 849,058.00 6.50000% 993.95409972 5.38391959 0.00000000 0.00000000
B-3 742,926.00 6.50000% 993.95409502 5.38391441 0.00000000 0.00000000
B-4 424,529.00 6.50000% 993.95409972 5.38391959 0.00000000 0.00000000
B-5 636,793.00 6.50000% 993.95429912 5.38391597 0.00000000 0.00000000
<FN>
(5) Per 1,000 Denomination
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 0.00000000 5.23726431 0.00000000 959.31452833
A-2 0.00000000 0.00000000 5.41666691 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.38391829 0.00000000 993.06554435
A-4 0.00000000 0.00000000 5.19974720 0.00000000 950.80627040
A-5 0.00000000 0.00000000 5.41666667 0.00000000 1000.00000000
APO 0.00000000 0.00000000 0.00000000 0.00000000 989.05716147
A-IO 0.00000000 0.00000000 0.34532618 0.00000000 962.63174070
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M 0.00000000 0.00000000 5.38391907 0.00000000 993.06554447
B-1 0.00000000 0.00000000 5.38391838 0.00000000 993.06554193
B-2 0.00000000 0.00000000 5.38391959 0.00000000 993.06553851
B-3 0.00000000 0.00000000 5.38391441 0.00000000 993.06554085
B-4 0.00000000 0.00000000 5.38391959 0.00000000 993.06553851
B-5 0.00000000 0.00000000 5.38391597 0.00000000 993.06581574
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 2,498,141.32
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 13,288.79
Realized Losses 0.00
Total Deposits 2,511,430.11
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 35,427.23
Payment of Interest and Principal 2,476,002.88
Total Withdrawals (Pool Distribution Amount) 2,511,430.11
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 35,427.23
Master Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 35,427.23
</TABLE>
<TABLE>
<CAPTION> CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 5 1,630,409.72 0.778816% 0.794524%
60 Days 1 395,786.38 0.155763% 0.192873%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 6 2,026,196.10 0.934579% 0.987396%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 13,288.79
</TABLE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current Next
Original $ Original % Current $ Current % Class% Prepayment%
<S> <C> <C> <C> <C> <C> <C> <C>
Class A 9,021,240.00 4.24999983% 8,958,682.77 4.36570339% 95.613884% 100.000000%
Class M 4,563,686.00 2.14999986% 4,532,039.48 2.20853229% 2.167257% 0.000000%
Class B-1 2,653,306.00 1.25000001% 2,634,906.93 1.28403052% 0.928824% 0.000000%
Class B-2 1,804,248.00 0.84999997% 1,791,736.69 0.87314075% 0.412811% 0.000000%
Class B-3 1,061,322.00 0.49999981% 1,053,962.48 0.51361207% 0.361210% 0.000000%
Class B-4 636,793.00 0.29999979% 632,377.36 0.30816718% 0.206405% 0.000000%
Class B-5 0.00 0.00000000% 0.00 0.00000000% 0.309608% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
<S> <C> Original $<C> Original % Current $<C><C> Current %
Bankruptcy 100,000.00 0.04711104% 100,000.00 0.04873153%
Fraud 4,245,289.59 2.00000000% 4,245,289.59 2.06879467%
Special Hazard 2,478,897.00 1.16783412% 2,478,897.00 1.20800449%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed 30 Year
Weighted Average Gross Coupon 7.039022%
Weighted Average Pass-Through Rate 6.833156%
Weighted Average Maturity(Stepdown Calculation ) 349
Beginning Scheduled Collateral Loan Count 644
Number Of Loans Paid In Full 2
Ending Scheduled Collateral Loan Count 642
Beginning Scheduled Collateral Balance 206,506,038.12
Ending Scheduled Collateral Balance 205,205,941.86
Ending Actual Collateral Balance at 30-Nov-1999 205,366,770.97
Monthly P &I Constant 1,396,204.27
Class A Optimal Amount 2,418,075.25
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 174,259,846.96
Ending scheduled Balance For discounted Loans 30,946,094.90
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
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