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Previous: LA INVESTMENT ASSOCIATES INC, 10SB12G/A, 2000-01-06 |
Next: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1999-22 TRUST, 8-K, 2000-01-06 |
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
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 December 27, 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
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.
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: 1/5/00
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Home Equity Loan
Asset-Backed Certs., Series 1999-3 Trust, relating to the
December 27, 1999 distribution.
<TABLE>
<CAPTION>
Centex Home Equity Corporation
Mortgage Pass-Through Certificates
Record Date: 11/30/99
Distribution Date: 12/27/99
CHEC Series: 1999-3
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 152314BN9 SEN 7.67000% 241,494,314.95 1,543,551.16 2,797,280.27
A-2 152314BP4 SEN 5.99000% 140,896,502.21 726,751.99 2,058,882.07
A-3 152314BQ2 SEN 7.25000% 24,000,000.00 145,000.00 0.00
X-IO CTX993XIO SEN 0.00000% 0.00 0.00 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 406,390,817.16 2,415,303.15 4,856,162.34
</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 0.00 238,697,034.68 4,340,831.43 0.00
A-2 0.00 138,837,620.14 2,785,634.06 0.00
A-3 0.00 24,000,000.00 145,000.00 0.00
X-IO 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
Totals 0.00 401,534,654.82 7,271,465.49 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
<S> <C> <C> <C> <C> <C> <C>
A-1 246,000,000.00 241,494,314.95 200,941.44 2,596,338.83 0.00 0.00
A-2 145,000,000.00 140,896,502.21 56,155.09 2,002,726.98 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 415,000,000.00 406,390,817.16 257,096.53 4,599,065.81 0.00 0.00
</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 2,797,280.27 238,697,034.68 0.97031315 2,797,280.27
A-2 2,058,882.07 138,837,620.14 0.95750083 2,058,882.07
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 4,856,162.34 401,534,654.82 0.96755339 4,856,162.34
</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-1 246,000,000.00 981.68420711 0.81683512 10.55422289 0.00000000
A-2 145,000,000.00 971.70001524 0.38727648 13.81191021 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 Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 11.37105801 970.31314911 0.97031315 11.37105801
A-2 0.00000000 14.19918669 957.50082855 0.95750083 14.19918669
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
</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% 241,494,314.95 1,543,551.16 0.00 0.00
A-2 145,000,000.00 5.99000% 140,896,502.21 726,751.99 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% 407,440,795.96 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 2,415,303.15 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 Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00 0.00 1,543,551.16 0.00 238,697,034.68
A-2 0.00 0.00 726,751.99 0.00 138,837,620.14
A-3 0.00 0.00 145,000.00 0.00 24,000,000.00
X-IO 0.00 0.00 0.00 0.00 403,734,469.91
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 2,415,303.15 0.00
</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% 981.68420711 6.27459821 0.00000000 0.00000000
A-2 145,000,000.00 5.99000% 971.70001524 5.01208269 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% 981.78505051 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 Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 0.00000000 6.27459821 0.00000000 970.31314911
A-2 0.00000000 0.00000000 5.01208269 0.00000000 957.50082855
A-3 0.00000000 0.00000000 6.04166667 0.00000000 1000.00000000
X-IO 0.00000000 0.00000000 0.00000000 0.00000000 972.85414436
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
<S> <C> <C> <C> <C> <C> <C>
OC 0.00000% 0.00 0.00 1,049,978.80 2,199,815.09 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 7,505,737.67
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses (5,131.51)
Total Deposits 7,500,606.16
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 229,140.67
Payment of Interest and Principal 7,271,465.49
Total Withdrawals (Pool Distribution Amount) 7,500,606.16
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 169,767.00
Trustee Fee- Norwest 1,666.67
MBIA Insurance Fee 57,707.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 229,140.67
</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 137 8,933,845.20 2.276126% 2.212802%
60 Days 37 2,694,420.94 0.614720% 0.667375%
90+ Days 3 173,875.60 0.049842% 0.043067%
Foreclosure 40 2,422,904.14 0.664562% 0.600123%
REO 1 58,100.00 0.016614% 0.014391%
Totals 218 14,283,145.88 3.621864% 3.537757%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 5,131.51
Principal Balance of Contaminated Properties 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 11.190962%
Weighted Average Net Coupon 10.690961%
Weighted Average Pass-Through Rate 10.686052%
Weighted Average Maturity(Stepdown Calculation ) 320
Beginning Scheduled Collateral Loan Count 6,070
Number Of Loans Paid In Full 51
Ending Scheduled Collateral Loan Count 6,019
Beginning Scheduled Collateral Balance 407,440,795.96
Ending Scheduled Collateral Balance 403,734,469.91
Ending Actual Collateral Balance at 30-Nov-1999 403,734,469.91
Monthly P &I Constant 4,056,808.53
Scheduled Principal 257,096.53
Unscheduled Principal 3,449,229.52
</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 11.468007 10.787791
Weighted Average Net Rate 10.963097 10.282881
Weighted Average Maturity 296.00 356.00
Beginning Loan Count 4,341 1,729 6,070
Loans Paid In Full 35 16 51
Ending Loan Count 4,306 1,713 6,019
Beginning Scheduled Balance 241,494,314.95 165,946,481.01 407,440,795.96
Ending scheduled Balance 239,320,331.39 164,414,138.52 403,734,469.91
Record Date 11/30/99 11/30/99
Principal And Interest Constant 2,508,823.42 1,547,985.11 4,056,808.53
Scheduled Principal 200,941.44 56,155.09 257,096.53
Unscheduled Principal 1,973,042.12 1,476,187.40 3,449,229.52
Scheduled Interest 2,307,881.98 1,491,830.02 3,799,712.00
Servicing Fees 100,622.63 69,144.37 169,767.00
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 987.84 678.82 1,666.66
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 2,206,271.38 1,422,006.57 3,628,277.95
Realized Loss Amount 5,131.51 0.00 5,131.51
Cumulative Realized Loss 5,131.51 0.00 5,131.51
Percentage of Cummulative Losses 0.00 0.00 0.00
Group ID 1 2 Total
Subordinate Amount 623,296.71 1,576,518.38 2,199,815.09
Subordinate Reduction Amount 0.00 0.00 0.00
Required Subordinate Amount 6,519,000.00 8,112,000.00 14,631,000.00
Subordinate Increase Amount 623,296.71 526,539.58 1,149,836.29
Extra Principal Distribution Amount 628,428.22 526,539.58 1,154,967.80
Excess Cash Amount 628,428.22 526,539.58 1,154,967.80
</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 4,578,314.11 1,647,213.07 126,275.60 1,554,300.57 58,100.00 976,693.44
Percentage Of Balance 1.913% 0.688% 0.053% 0.649% 0.024% 0.408%
Loan Count 84 25 2 32 1 14
Percentage Of Loans 1.951% 0.581% 0.046% 0.743% 0.023% 0.325%
2 Principal Balance 4,355,531.09 1,047,207.87 47,600.00 868,603.57 0.00 732,700.16
Percentage Of Balance 2.649% 0.637% 0.029% 0.528% 0.000% 0.446%
Loan Count 53 12 1 8 0 7
Percentage Of Loans 3.094% 0.701% 0.058% 0.467% 0.000% 0.409%
Totals:Principal Balance 8,933,845.20 2,694,420.94 173,875.60 2,422,904.14 58,100.00 1,709,393.60
Percentage of Balance 2.213% 0.667% 0.043% 0.600% 0.014% 0.423%
Loan Count 137 37 3 40 1 21
Percentage Of Loans 2.276% 0.615% 0.050% 0.665% 0.017% 0.349%
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Group Miscellaneous Reporting Items
1 Largest Home Equity Loan Balance $207,119.43
1 Rolling 12 Month Annual Loss Percentage 0.002125%
1 Rolling Three Month 90+ Delinquency Percentage 0.30161%
2 Largest Home Equity Loan Balance $118,302.33
2 Rolling Twelve Month Annual Loss Percentage 0.00000%
2 Rolling Three Month 90+ Delinquency Percentage 0.27090%
</TABLE>
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