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Previous: ON LINE PRODUCTION SERVICES INC, 10SB12G/A, 1999-12-07 |
Next: INFOCAST CORP /NV, 10-12G/A, 1999-12-07 |
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): November 26, 1999
CENTEX HOME EQUITY CORPORATION
Home Equity Loan Asset-Backed Certs., Series 1999-3 Trust
New York (governing law of 333-54027-03 Pending
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, MD (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 November 26, 1999 a distribution was made to holders of CENTEX HOME
EQUITY CORPORATION, Home Equity Loan Asset-Backed Certs., Series 1999-3
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 Home Equity Loan Asset-Backed Certs.,
Series 1999-3 Trust, relating to the
November 26, 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.
CENTEX HOME EQUITY CORPORATION
Home Equity Loan Asset-Backed Certs., Series 1999-3 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri Sharps, Vice President
By: Sherri Sharps, Vice President
Date: 12/01/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of CENTEX HOME
EQUITY CORPORATION Home Equity Loan Asset-Backed Certs.,
Series 1999-3 Trust, relating to the November 26, 1999
distribution.
<TABLE>
<CAPTION>
Centex Home Equity Corporation
Mortgage Pass-Through Certificates
Record Date: 10/31/99
Distribution Date: 11/26/99
CHEC Series: 1999-3
Contact: Customer Service - Columbia, MD
Norwest Bank Minnesota, N.A.
Securities Administration Services
11000 Broken Land Parkway
Columbia, MD 21044
Telephone: (301) 815-6600
Fax: (410) 884-2369
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 152314BN9 SEN 7.67000% 243,564,783.37 1,556,784.90 2,070,468.42
A-2 152314BP4 SEN 5.80875% 143,147,589.68 739,118.71 2,251,087.47
A-3 152314BQ2 SEN 7.25000% 24,000,000.00 145,000.00 0.00
X-IO CTX993XIO SEN 0.00000% 0.00 634,357.02 0.00
R-1 CTX9903R1 RES 0.00000% 0.00 0.00 0.00
R-2 CTX9903R2 RES 0.00000% 0.00 0.00 0.00
Totals 410,712,373.05 3,075,260.63 4,321,555.89
</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 0.00 241,494,314.95 3,627,253.32 0.00
A-2 0.00 140,896,502.21 2,990,206.18 0.00
A-3 0.00 24,000,000.00 145,000.00 0.00
X-IO 0.00 0.00 634,357.02 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
Totals 0.00 406,390,817.16 7,396,816.52 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-1 246,000,000.00 243,564,783.37 196,558.69 1,873,909.73 0.00 0.00
A-2 145,000,000.00 143,147,589.68 63,814.02 2,187,274.14 0.00 0.00
A-3 24,000,000.00 24,000,000.00 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00 0.00
Totals 415,000,000.00 410,712,373.05 260,372.71 4,061,183.87 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 2,070,468.42 241,494,314.95 0.98168421 2,070,468.42
A-2 2,251,087.47 140,896,502.21 0.97170002 2,251,087.47
A-3 0.00 24,000,000.00 1.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
Totals 4,321,555.89 406,390,817.16 0.97925498 4,321,555.89
</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-1 246,000,000.00 990.10074541 0.79901907 7.61751923 0.00000000
A-2 145,000,000.00 987.22475641 0.44009669 15.08464924 0.00000000
A-3 24,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
X-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All classes are per $1000 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 8.41653829 981.68420711 0.98168421 8.41653829
A-2 0.00000000 15.52474117 971.70001524 0.97170002 15.52474117
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
X-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<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-1 246,000,000.00 7.67000% 243,564,783.37 1,556,784.91 0.00 0.00
A-2 145,000,000.00 5.80875% 143,147,589.68 739,118.72 0.00 0.00
A-3 24,000,000.00 7.25000% 24,000,000.00 145,000.00 0.00 0.00
X-IO 0.00 0.00000% 411,233,096.82 0.00 0.00 0.00
R-1 0.00 0.00000% 0.00 0.00 0.00 0.00
R-2 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 415,000,000.00 2,440,903.63 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 1,556,784.90 0.00 241,494,314.95
A-2 0.00 0.00 739,118.71 0.00 140,896,502.21
A-3 0.00 0.00 145,000.00 0.00 24,000,000.00
X-IO 0.00 0.00 634,357.02 0.00 407,440,795.96
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 3,075,260.63 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-1 246,000,000.00 7.67000% 990.10074541 6.32839394 0.00000000 0.00000000
A-2 145,000,000.00 5.80875% 987.22475641 5.09737048 0.00000000 0.00000000
A-3 24,000,000.00 7.25000% 1000.00000000 6.04166667 0.00000000 0.00000000
X-IO 0.00 0.00000% 990.92312487 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All classes are per $1000 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 6.32839390 0.00000000 981.68420711
A-2 0.00000000 0.00000000 5.09737041 0.00000000 971.70001524
A-3 0.00000000 0.00000000 6.04166667 0.00000000 1000.00000000
X-IO 0.00000000 0.00000000 1.52857113 0.00000000 981.78505051
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<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 Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Rate Balance Balance Balance Balance Percentage
Class
<S> <C> <C> <C> <C> <C> <C>
OC 0.00000% 0.00 0.00 520,723.77 1,049,978.80 0.00000000%
C 0.00000% 0.00 0.00 0.00 0.00 0.00000000%
C 0.00000% 0.00 0.00 0.00 0.00 0.00000000%
C 0.00000% 0.00 0.00 0.00 0.00 0.00000000%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 7,628,151.69
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 7,628,151.69
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 231,335.17
Payment of Interest and Principal 7,396,816.52
Total Withdrawals (Pool Distribution Amount) 7,628,151.69
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 171,347.50
Trustee Fee- Norwest 1,666.67
MBIA Insurance Fee 58,321.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 231,335.17
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Financial Guaranty 0.00 0.00 0.00 0.00
Financial Guaranty 0.00 0.00 0.00 0.00
</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 84 5,560,251.95 1.383855% 1.364677%
60 Days 38 2,126,579.55 0.626030% 0.521936%
90+ Days 1 47,349.80 0.016474% 0.011621%
Foreclosure 12 675,764.88 0.197694% 0.165856%
REO 0 0.00 0.000000% 0.000000%
Totals 135 8,409,946.18 2.224053% 2.064090%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Principal Balance of Contaminated Properties 0.00
Current Period Class A Insufficient Funds 0.00
Periodic Advance 0.00
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
Class R-II 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 11.193218%
Weighted Average Net Coupon 10.693217%
Weighted Average Pass-Through Rate 10.688355%
Weighted Average Maturity(Stepdown Calculation ) 321
Beginning Scheduled Collateral Loan Count 6,116
Number Of Loans Paid In Full 46
Ending Scheduled Collateral Loan Count 6,070
Beginning Scheduled Collateral Balance 411,233,096.82
Ending Scheduled Collateral Balance 407,440,795.96
Ending Actual Collateral Balance at 31-Oct-1999 407,440,795.96
Monthly P &I Constant 4,096,224.25
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2 Total
Collateral Description Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 11.470630 10.790234
Weighted Average Net Rate 10.965763 10.285375
Weighted Average Maturity 297.00 357.00
Beginning Loan Count 4,372 1,744 6,116
Loans Paid In Full 31 15 46
Ending Loan Count 4,341 1,729 6,070
Beginning Scheduled Balance 243,564,783.37 167,668,313.45 411,233,096.82
Ending scheduled Balance 241,494,314.95 165,946,481.01 407,440,795.96
Record Date 10/31/99 10/31/99
Principal And Interest Constant 2,524,759.99 1,571,464.26 4,096,224.25
Scheduled Principal 196,558.69 63,814.02 260,372.71
Unscheduled Principal 1,873,909.73 1,658,018.42 3,531,928.15
Scheduled Interest 2,328,201.30 1,507,650.24 3,835,851.54
Servicing Fees 101,485.54 69,861.96 171,347.50
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 987.83 678.84 1,666.67
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 2,225,727.93 1,437,109.44 3,662,837.37
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00 0.00
Group ID 1 2 Total
Subordinate Amount 0.00 1,049,978.80 1,049,978.80
Subordinate Reduction Amount 0.00 0.00 0.00
Required Subordinate Amount 8,112,000.00 6,519,000.00 14,631,000.00
Subordinate Increase Amount 0.00 529,255.03 529,255.03
Extra Principal Distribution Amount 0.00 529,255.03 529,255.03
Excess Cash Amount 0.00 529,255.03 529,255.03
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C> <C> <C> <C> <C> <C>
Group 30 Days 60 Days 90 + Days Foreclosure REO Bankruptcy
1 Principal Balance 3,144,404.73 1,549,738.49 0.00 400,306.35 0.00 665,975.06
Percentage Of Balance 1.302% 0.642% 0.000% 0.166% 0.000% 0.276%
Loan Count 58 31 0 8 0 10
Percentage Of Loans 1.336% 0.714% 0.000% 0.184% 0.000% 0.230%
2 Principal Balance 2,415,847.22 576,841.06 47,349.80 275,458.53 0.00 394,919.59
Percentage Of Balance 1.456% 0.348% 0.029% 0.166% 0.000% 0.238%
Loan Count 26 7 1 4 0 6
Percentage Of Loans 1.504% 0.405% 0.058% 0.231% 0.000% 0.347%
Totals:Principal Balance 5,560,251.95 2,126,579.55 47,349.80 675,764.88 0.00 1,060,894.65
Percentage of Balance 1.365% 0.522% 0.012% 0.166% 0.000% 0.260%
Loan Count 84 38 1 12 0 16
Percentage Of Loans 1.384% 0.626% 0.016% 0.198% 0.000% 0.264%
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Group Miscellaneous Reporting Items
1 Largest Home Equity Loan Balance $239,321.00
1 Remaining Pre-Funded Amount 0.00
1 Rolling 12 Month Annual Loss Percentage 0.00
1 Rolling Three Month 90+ Delinquency Percentage .06162%
1 Pre-Funding Account Earnings Transferred to the Certificate Account 0.00
2 Largest Home Equity Loan Balance $390,862.27
2 Remaining Pre-Funding Amount 0.00
2 Rolling Twelve Month Annual Loss Percentage 0.00
2 Rolling Three Month 90+ Delinquency Percentage .08686%
2 Pre-Funding Account Earnings Transferred to the Certificate Account 0.00
</TABLE>
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