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: December 24, 1999
ADVANTA Mortgage Loan Trust 1999-3
New York 333-75295-01 Pending
c/o ADVANTA Mortgage Corp., USA
Attn: H. John Berens
10790 Rancho Bernardo Road
San Diego, CA 92127
(858) 676-3099
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the November 1999 Monthly Period of the Trust in respect of
the Mortgage Loan Asset-Backed Certificates, Series 1999-3
Class A (the "Certificates") issued by the Registrant and the
performance of the Trust (including distributions of principal
and interest, delinquent balances of Home Equity Loans,
and the Subordinated amount remaining), together with certain other
information relating to the certificates, is contained in the
Monthly Report for the Monthly Period provided to certificateholders
pursuant to the Pooling and Servicing Agreement (the "Agreement")
dated as of August 1, 1999 between ADVANTA Mortgage Corp.,
USA as Servicer, and Bankers Trust Company, as Trustee.
Item 7. Financial Statements, Exhibits
Exhibit No. Exhibit
1. Monthly Report for the November 1999 Monthly
period relating to the Mortgage Loan Asset-
Backed Certificates Series 1999-3, Class A
issued by the ADVANTA Mortgage Loan
Trust 1999-3.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the November 1999 Monthly
Period relating to the Mortgage Loan Asset-Backed
Certificates, Series 1999-3, Class A issued by the
ADVANTA Mortgage Loan Trust 1999-3.
SIGNATURE
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 Mortgage Loan Trust 1999-3
BY: ADVANTA Mortgage Corp., USA
BY: /s/ H. John Berens
H. John Berens
Senior Vice President
Advanta Mortgage
December 31, 1999
<TABLE>
EXHIBIT 1
<CAPTION>
ADVANTA Mortgage Loan Trust 1999-3
Statement to Certificateholders
Distribution in Dollars - Current Period
<CAPTION>
Prior
Original Principal Total Realized
Class Face Value Balance Interest Principal Distribution Losses
<S> <C> <C> <C> <C> <C> <C>
A-1 117,581,000 108,179,123 613,9 3,408,605 4,022,52
A-2 69,182,00 69,182,00 416,8 416,8
A-3 46,259,00 46,259,00 284,4 284,4
A-4 74,498,00 74,498,00 481,1 481,1
A-5 29,980,00 29,980,00 200,8 200,8
A-6 37,500,00 37,500,00 237,1 237,1
A-7 150,000,000 145,475,122 750,3 2,560,374 3,310,74
B
BS
R-II
Totals 525,000,000 511,073,245 2,984,78 5,968,979 8,953,76
</TABLE>
<TABLE>
<CAPTION>
Current
Deferred Principal
Class Interest Balance
<S> <C> <C>
A-1 104,770,518.45
A-2 69,182,000.00
A-3 46,259,000.00
A-4 74,498,000.00
A-5 29,980,000.00
A-6 37,500,000.00
A-7 142,914,747.93
B -
BS -
R-II -
Totals 505,104,266.38
</TABLE>
<TABLE>
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face
<CAPTION>
Orig. Principal Prior
Period Period (with Notional) Principal
Class Starting Ending Method Cusip Balance Balance
<S> <C> <C> <C> <C> <C> <C>
A-1 11/26/99 12/26/99 F-30/360 00755WGV2 117,581,000. 920.039
A-2 F-30/360 00755WGW0 69,182,000 1,000.0000
A-3 F-30/360 00755WGX8 46,259,000 1,000.0000
A-4 F-30/360 00755WGY6 74,498,000 1,000.0000
A-5 A-30/360 00755WGZ3 29,980,000 1,000.0000
A-6 A-30/360 00755WHA7 37,500,000 1,000.0000
A-7 11/26/99 12/26/99 A-Act/360 00755WHB5 150,000,000. 969.834
B
BS
R-II
</TABLE>
<TABLE>
<CAPTION>
Current
Total Principal
Class Interest Principal Distribution Balance
<S> <C> <C> <C> <C>
A-1 5. 28.9 34.2 891.049731
A-2 6. 6.0 1,000.000000
A-3 6. 6.1 1,000.000000
A-4 6. 6.4 1,000.000000
A-5 6. 6.7 1,000.000000
A-6 6. 6.3 1,000.000000
A-7 5. 17.0 22.0 952.764986
B -
BS -
R-II -
</TABLE>
<TABLE>
Distribution in Dollars - To Date
<CAPTION>
Original Unscheduled Scheduled Total Total
Class Face Value Interest Principal Principal Principal Distribution
<S> <C> <C> <C> <C> <C> <C>
A-1 117,581,000 2,569,6 11,104,886 1,705,594 12,810,481 15,380,147.
A-2 69,182,00 1,667,2 1,667,286
A-3 46,259,00 1,137,9 1,137,971
A-4 74,498,00 1,924,5 1,924,531
A-5 29,980,00 803,4 803,46
A-6 37,500,00 948,7 948,75
A-7 150,000,000 2,988,4 6,467,43 617,81 7,085,25 10,073,681.
B
BS
R-II 693,0 693,02
Totals 525,000,000 12,733,12 17,572,322 2,323,411 19,895,733 32,628,857.
</TABLE>
<TABLE>
<CAPTION>
Current
Realized Deferred Principal
Class Losses Interest Balance
<S> <C> <C> <C>
A-1 104,770,518.46
A-2 69,182,000.00
A-3 46,259,000.00
A-4 74,498,000.00
A-5 29,980,000.00
A-6 37,500,000.00
A-7 142,914,747.93
B -
BS -
R -
Totals 505,104,266.39
</TABLE>
<TABLE>
Interest Detail
<CAPTION>
Pass Prior Principal Non- Prior Unscheduled
Through (with Notional) Accrued Supported Unpaid Interest
Class Rate Balance Interest Interest SF Interest Adjustments
<S> <C> <C> <C> <C> <C> <C>
A-1 6.81000% 108,179,123 613,9
A-2 7.23000% 69,182,00 416,8
A-3 7.38000% 46,259,00 284,4
A-4 7.75000% 74,498,00 481,1
A-5 8.04000% 29,980,00 200,8
A-6 7.59000% 37,500,00 237,1
A-7 5.99000% 145,475,122 750,3
B
BS
R-II
Totals 511,073,245 2,984,78
</TABLE>
<TABLE>
<CAPTION>
Paid or Current
Optimal Deferred Unpaid
Class Interest Interest Interest
<S> <C> <C> <C>
A-1 613,9 613,9 -
A-2 416,8 416,8 -
A-3 284,4 284,4 -
A-4 481,1 481,1 -
A-5 200,8 200,8 -
A-6 237,1 237,1 -
A-7 750,3 750,3 -
B -
BS -
R-II -
Totals 2,984,7 2,984,7 -
</TABLE>
<TABLE>
Collection Account Report
<CAPTION>
Summary Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Principal Collections 2,222,206 2,870,61 5,092,820
Principal Withdrawals
Principal Other Accounts
TOTAL PRINCIPAL 2,222,206 2,870,61 5,092,820
Interest Collected 1,183,650 3,006,63 4,190,285
Interest Withdrawals
Interest Other Accounts
Fees (95,1 (234,2 (329,34
TOTAL INTEREST 1,088,536 2,772,40 3,860,945
TOTAL AVAILABLE TO CERTIFICATEHOLDERS 3,310,742 5,643,02 8,953,765
</TABLE>
<TABLE>
<CAPTION>
Principal - Collections Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Scheduled Principal 138,20 447,9 586,17
Curtailments
Prepayments in Full 2,083,999 2,422,64 4,506,644
Repurchased Principal Amounts
Substitution Principal Amount
Liquidations
Insurance Principal
Other Principal
Total Realized Loss of Principal
TOTAL PRINCIPAL COLLECTED 2,222,206 2,870,61 5,092,820
</TABLE>
<TABLE>
Collection Account Report
<CAPTION>
Principal - Withdrawals Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
<CAPTION>
Principal - Other Accounts Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Amounts Remaining in Pre-Funding Account
</TABLE>
<TABLE>
<CAPTION>
Interest - Collections Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Scheduled Interest 1,203,849 3,048,48 4,252,339
Repurchased Interest
Substitution Interest Amount
Liquidation Interest
Insurance Interest
Other Interest
Delinquent Interest (265,62 (587,0 (852,71
Interest Advanced 245,42 545,2 790,65
Prepayment Interest Shortfalls ( (2, (2,9
Compensating Interest 2, 2,9
Civil Relief Act Shortfalls
TOTAL INTEREST COLLECTED 1,183,650 3,006,63 4,190,285
</TABLE>
<TABLE>
Collection Account Report
<CAPTION>
Interest - Withdrawals Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Current Nonrecoverable Advances
TOTAL INTEREST WITHDRAWALS
</TABLE>
<TABLE>
<CAPTION>
Interest - Other Accounts Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Capitalized Interest Requirement
Pre-Funding Account Earnings
Capitalized Interest Account
</TABLE>
<TABLE>
<CAPTION>
Interest - Fees Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Current Servicing Fees 74,9 189,1 264,11
Trustee Fee Amount 1,1 2, 3,9
Insurance Premium Amount 19,0 42,2 61,3
TOTAL FEES 95,1 234,2 329,34
</TABLE>
<TABLE>
Credit Enhancement Report
<CAPTION>
Accounts Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
<CAPTION>
Insurance Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Total Insured Payments
</TABLE>
<TABLE>
<CAPTION>
Structural Features Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Specified Overcollateralization Amount 9,263,103.27 11,706,948.64 20,970,051.91
Current Overcollateralization Amount 7,049,240.99 4,623,888.22 11,673,129.21
Overcollateralization Deficiency Amount 2,552,030.27 7,621,051.94 10,173,082.21
Overcollateralization Deficit Amount
Overcollateralization Increase Amount 338,167.99 537,991.53 876,159.52
Overcollateralization Reduction Amount
Components of Change in Overcollateralization*
Excess Interest Generated by Pool 338,167.99 537,991.53 876,159.52
Pre-Funding Account Interest Earnings
Additional Principal
TOTAL 338,16 537,991.53 876,159.52
*(NOTE: If at specified amount, components will not equal increase amount)
</TABLE>
<TABLE>
Collateral Report
<CAPTION>
Collateral Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Loan Count:
Original
Prior
Prefunding
Scheduled Paid Offs
Full Voluntary Prepayments
Repurchases
Liquidations
Current
Principal Balance
Original 142,758,206.98 331,219,376.10 473,977,583.08
Prior 152,186,195.13 369,684,020.47 521,870,215.60
Prefunding
Scheduled Principal (138,206.58) (447,969.04) (586,175.62)
Partial and Full Voluntary Prepayments (2,083,999 (2,422,64 (4,506,644
Repurchases
Liquidations
Current 149,963,988. 366,813,406. 516,777,395.
</TABLE>
<TABLE>
<CAPTION>
Prefunding Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
PRE-FUNDING ACCOUNT
Original Pre-Funded Amount 12,924,201. 46,424,128.36 59,348,329.36
Balance of Subsequent Mortgage Loans Added This Period
Pre-Funding Account Earnings
Withdrawal Account Earnings
Pre-Funding Account Ending Balance
CAPITALIZED INTEREST ACCOUNT
Original Capitalized Interest Deposit 117,36 575,6 693,02
Capitalized Interest Requirement
Withdrawal Remaining Amounts
Capitalized Interest Account Ending Balance
</TABLE>
<TABLE>
Collateral Report
<CAPTION>
Characteristics Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Weighted Average Coupon Original 9.495321% 9.907285% 9.783205%
Weighted Average Coupon Prior 9.496136% 9.903984% 9.785190%
Weighted Average Coupon Current 9.492450% 9.895444% 9.777924%
Weighted Average Months to Maturity Original 348 246 277
Weighted Average Months to Maturity Prior 345 243 273
Weighted Average Months to Maturity Current 344 242 272
Weighted Average Remaining Amortization Term Original 348 302 316
Weighted Average Remaining Amortization Term Prior 346 295 310
Weighted Average Remaining Amortization Term Current 345 294 309
Weighted Average Seasoning Original 3.58 3.22 3.33
Weighted Average Seasoning Prior 5.26 4.79 4.93
Weighted Average Seasoning Current 6.20 5.76 5.89
Note: Original information refers to deal issue
</TABLE>
<TABLE>
Collateral Report
<CAPTION>
Arm Characteristics Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Weighted Average Margin Original 5.302%
Weighted Average Margin Prior 5.236%
Weighted Average Margin Current 5.233%
Weighted Average Max Rate Original 16.388% 9.907%
Weighted Average Max Rate Prior 16.400% 9.904%
Weighted Average Max Rate Current 16.399% 9.895%
Weighted Average Min Rate Original 9.008% 9.157%
Weighted Average Min Rate Prior 8.940% 9.154%
Weighted Average Min Rate Current 8.934% 9.145%
Weighted Average Cap Up Original 1.082%
Weighted Average Cap Up Prior 1.075%
Weighted Average Cap Up Current 1.075%
Weighted Average Cap Down Original 1.082%
Weighted Average Cap Down Prior 1.075%
Weighted Average Cap Down Current 1.075%
Note: Original information refers to deal issue
</TABLE>
<TABLE>
<CAPTION>
Servicing Fees / Advances Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Current Servicing Fees 74,9 189,1 264,11
Delinquent Servicing Fees 20,1 41,8 62,0
TOTAL SERVICING FEES 95,1 231,0 326,16
Total Servicing Fees 95,1 231,0 326,16
Compensating Interest ( (2, (2,9
Delinquent Servicing Fees (20,1 (41,8 (62,0
COLLECTED SERVING FEES 74,1 187,0 261,17
Prepayment Interest Shortfall 2, 2,9
Total Advanced Interest 245,42 545,2 790,65
Current Nonrecoverable Advances
Unreimbursed Delq/Servicing Advances Paid To Servicer
</TABLE>
<TABLE>
<CAPTION>
Additional Collateral Information Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Weighted Average Coupon Next 9.482145% 9.887612% 9.769949%
</TABLE>
<TABLE>
Delinquency Report - Total
<CAPTION>
Current 1 Payment 2 Payments 3+ Payments Total
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 9,983,07 2,806,554 194,7 12,984,425.
% Balance 1.93% 0.54% 0.04% 2.51%
# Loans 162 47 3 212
% # Loans 2.30% 0.67% 0.04% 3.01%
FORECLOSURE Balance 66,3 663,65 3,428,77 4,158,729
% Balance 0.00% 0.01% 0.13% 0.66% 0.80%
# Loans 8 50 59
% # Loans 0.00% 0.01% 0.11% 0.71% 0.83%
BANKRUPTCY Balance 420,2 500,1 69,4 248,4 1,238,300
% Balance 0.08% 0.10% 0.01% 0.05% 0.24%
# Loans 8 5 21
% # Loans 0.11% 0.09% 0.03% 0.07% 0.30%
REO Balance
% Balance 0.00% 0.00% 0.00% 0.00% 0.00%
# Loans
% # Loans 0.00% 0.00% 0.00% 0.00% 0.00%
TOTAL Balance 420,2 10,549,496 3,539,695 3,872,05 18,381,455.
% Balance 0.08% 2.04% 0.68% 0.75% 3.55%
# Loans
% # Loans 0.11% 2.40% 0.81% 0.82% 4.14%
Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+
</TABLE>
<TABLE>
Delinquency Report - Fixed Group
<CAPTION>
Current 1 Payment 2 Payments 3+ Payments Total
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 7,217,05 1,720,114 68,2 9,005,402
% Balance 1.97% 0.47% 0.02% 2.46%
# Loans
% # Loans 2.27% 0.68% 0.04% 2.99%
FORECLOSURE Balance 427,93 2,212,17 2,640,117
% Balance 0.00% 0.00% 0.12% 0.60% 0.72%
# Loans
% # Loans 0.00% 0.00% 0.09% 0.63% 0.72%
BANKRUPTCY Balance 115,9 226,8 69,4 184,8 597,16
% Balance 0.03% 0.06% 0.02% 0.05% 0.16%
# Loans
% # Loans 0.06% 0.06% 0.04% 0.07% 0.23%
REO Balance
% Balance 0.00% 0.00% 0.00% 0.00% 0.00%
# Loans
% # Loans 0.00% 0.00% 0.00% 0.00% 0.00%
TOTAL Balance 115,9 7,443,94 2,217,539 2,465,20 12,242,684.
% Balance 0.03% 2.03% 0.61% 0.67% 3.34%
# Loans
% # Loans 0.06% 2.33% 0.81% 0.74% 3.94%
Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+
</TABLE>
<TABLE>
Delinquency Report - Adjustable Group
<CAPTION>
Current 1 Payment 2 Payments 3+ Payments Total
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 2,766,01 1,086,439 126,5 3,979,023
% Balance 1.84% 0.72% 0.08% 2.64%
# Loans
% # Loans 2.42% 0.62% 0.06% 3.10%
FORECLOSURE Balance 66,3 235,71 1,216,59 1,518,612
% Balance 0.00% 0.04% 0.16% 0.81% 1.01%
# Loans
% # Loans 0.00% 0.06% 0.19% 0.99% 1.24%
BANKRUPTCY Balance 304,2 273,2 63,6 641,13
% Balance 0.20% 0.18% 0.00% 0.04% 0.42%
# Loans
% # Loans 0.31% 0.19% 0.00% 0.06% 0.56%
REO Balance
% Balance 0.00% 0.00% 0.00% 0.00% 0.00%
# Loans
% # Loans 0.00% 0.00% 0.00% 0.00% 0.00%
TOTAL Balance 304,2 3,105,55 1,322,155 1,406,84 6,138,771
% Balance 0.20% 2.06% 0.88% 0.93% 4.07%
# Loans
% # Loans 0.31% 2.67% 0.81% 1.11% 4.90%
Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+
</TABLE>
<TABLE>
Prepayment Report - Voluntary Prepayments
<CAPTION>
Voluntary Prepayments Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Current
Number of Paid in Full Loans 18 46 64
Number of Repurchased Loans
Total Number of Loans Prepaid in Full 18 46 64
Paid in Full Balance 2,083,999 2,422,64 4,506,644
Repurchase Loans Balance
Curtailments Amount
Total Prepayment Amount 2,083,999 2,422,64 4,506,644
Cumulative
Number of Paid in Full Loans 50 153 203
Number of Repurchased Loans 0
Total Number of Loans Prepaid in Full 50 153 203
Paid in Full Balance 5,098,552 9,124,88 14,223,438.
Repurchase Loans Balance
Curtailments Amount ( (1, (1,7
Total Prepayment Amount 5,098,126 9,123,52 14,221,651.
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
Prepayment Report - Voluntary Prepayments
<CAPTION>
Voluntary Prepayment Rates Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
SMM 1.37% 0.66% 0.86%
3 Months Average SMM 0.96% 0.69% 0.77%
12 Months Average SMM
Average SMM Since Cut-Off 0.84% 0.62% 0.69%
CPR 15.26% 7.60% 9.89%
3 Months Average CPR 10.97% 7.98% 8.86%
12 Months Average CPR
Average CPR Since Cut-Off 9.64% 7.24% 7.95%
PSA 1230.85% 659.33% 840.31%
3 Months Average PSA Approximation 1045.76% 833.38% 900.29%
12 Months Average PSA Approximation
Average PSA Since Cut-Off Approximation 997.91% 823.20% 878.18%
</TABLE>
<TABLE>
Realized Loss Report - Collateral
<CAPTION>
Collateral Realized Losses Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Current
Number of Loans Liquidated
Collateral Realized Loss / (Gain) Amount
Net Liquidation Proceeds
Cumulative
Number of Loans Liquidated
Collateral Realized Loss / (Gain) Amount
Net Liquidation Proceeds
Note: Collateral realized losses may include adjustments to loans liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
Realized Loss Report - Collateral
<CAPTION>
Default Speeds Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
MDR 0.00% 0.00% 0.00%
3 Months Average MDR
12 Months Average MDR
Average MDR Since Cut-Off 0.00% 0.00% 0.00%
CDR 0.00% 0.00% 0.00%
3 Months Average CDR
12 Months Average CDR
Average CDR Since Cut-Off 0.00% 0.00% 0.00%
SDA 0.00% 0.00% 0.00%
3 Months Average SDA Approximation
12 Months Average SDA Approximation
Average SDA Since Cut-Off Approximation 0.00% 0.00% 0.00%
Loss Severity Approximation for Current Period
3 Months Average Loss Severity Approximation
12 Months Average Loss Severity Approximation
Average Loss Severity Approximation Since Cut-Off
</TABLE>
<TABLE>
Triggers, Adj. Rate Cert. And Miscellaneous Report
<CAPTION>
Trigger Events Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Has Servicer Termination Loss Trigger Occurred? No
</TABLE>
<TABLE>
<CAPTION>
Adjustable Rate Certificate Information Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Next Pass-Through Rates for Adjustable Rate Certificates
Class A-5 8.040000%
Class A-6 7.590000%
Class A-7 6.881250%
</TABLE>
<TABLE>
<CAPTION>
Additional Information Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
SUPPLEMENTAL INTEREST ACCOUNT
Supplemental Interest Amount
Supplemental Interest Shortfall Carry-Forward Amount
Supplemental Interest Shortfall Amount
Deposit to Supp Int Acct (Class B Distribution)
Payment to Supplemental interest Right
Supplemental Interest Account Ending Balance
</TABLE>