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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 16, 1999
Advanta Conduit Receivables, Inc.
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(Exact name of registrant as specified in its charter)
Nevada 333-75295 88-0360305
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) ID Number)
Attention: General Counsel
10790 Rancho Bernardo Road
San Diego, California 92127
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(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number,
including area code: (858) 676-3099
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Advanta Conduit Receivables, Inc., as Sponsor on behalf of
Advanta Mortgage Loan Trust 1999-3
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(Exact name of registrant as specified in its charter)
Nevada 333-75295-01 88-0360305
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) ID Number)
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
Incorporation of Certain Documents by Reference
The consolidated financial statements of Ambac Assurance Corporation
and subsidiaries as of December 31, 1998 and December 31, 1997, for each of the
years in the three-year period ended December 31, 1998, prepared in accordance
with generally accepted accounting principles, included in the Annual Report on
Form 10-K of Ambac Financial Group, Inc. (which was filed with the Securities
and Exchange Commission on March 30, 1999; Commission File Number 1-10777) and
the unaudited consolidated financial statements of Ambac Assurance Corporation
and subsidiaries as of June 30, 1999, and for the periods ended June 30, 1999
and June 30, 1998, included in the Quarterly Report on Form 10-Q of Ambac
Financial Group, Inc. for the period ended June 30, 1999 (which was filed with
the Securities and Exchange Commission on August 13, 1999) are hereby
incorporated by reference in (i) this Current Report on Form 8-K; (ii) the
registration statement (No. 333-75295) of the registrant; and (iii) the
prospectus supplement, and shall be deemed to be part hereof and thereof.
In connection with the issuance of the Certificates, the Company is
filing herewith the consent of KPMG LLP ("KPMG") to the use of their name and
the incorporation by reference of their report in the prospectus supplement
relating to the issuance of the Certificates. The consent of KPMG is attached
hereto as Exhibit 23.1.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
23.1 Consent of KPMG LLP, independent accountants.
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SIGNATURES
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 thereunto duly authorized.
ADVANTA CONDUIT RECEIVABLES, INC.,
as Sponsor on behalf of
ADVANTA MORTGAGE LOAN TRUST 1999-3.
By:/s/ Michael Coco
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Name: Michael Coco
Title: Vice President
ADVANTA CONDUIT RECEIVABLES, INC.
By:/s/ Michael Coco
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Name: Michael Coco
Title: Vice President
Dated: August 18, 1999
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EXHIBIT INDEX
Exhibit Page
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23.1 Consent of KPMG LLP, independent accountants.
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Exhibit 23.1
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation
We consent to the incorporation by reference in the registration statement (No.
333-75295) of Advanta Mortgage Loan Trust 1999-3 (the "Registrant") and the
Prospectus Supplement of the Registrant (the "Prospectus Supplement"), via the
Form 8-K of the Registrant dated August 18, 1999, of our report dated January
27, 1999 on the consolidated financial statements of Ambac Assurance Corporation
and subsidiaries as of December 31, 1998 and 1997, and for each of the years in
the three-year period ended December 31, 1998, which report appears in the Form
10-K of Ambac Financial Group, Inc. which was filed with the Securities and
Exchange Commission on March 30, 1999 and to the reference to our firm under the
heading "Experts" in the Prospectus Supplement.
/s/ KPMG LLP
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New York, New York
August 18, 1999
