<PAGE> 1
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) DECEMBER 27, 1999.
Fremont Home Loan Owner Trust Series 1999-3
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(Exact name of registrant as specified in its charter)
Delaware 333-79283 56-2160422
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
c/o First Union National Bank, 230 S. Tryon Street, 9th Floor,
Charlotte, NC 28288-1179
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (704) 383-9568
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(Former name or former address, if changed since last report.)
<PAGE> 2
Item 5. See the monthly statement to Bondholders attached as Exhibit 20.1 hereto
reflecting the required information for the DECEMBER 1999 payment to the Fremont
Home Loan Asset-Backed Certificates Series 1999-3
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Item 601 (a) of Regulation.
S-K Exhibit Number.
20.1 Monthly statement to holders of Fremont Home Loan Asset-Backed Certificates
Series 1999-3 relating to the DECEMBER 27, 1999 Payment Date.
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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 behalf of Fremont
Home Loan Owner Trust Series 1999-3 by the undersigned thereunto duly
authorized.
Dated: JANUARY 11, 2000 By: First Union National Bank, as Indenture
Trustee and on behalf of Fremont Home
Loan Owner Trust Series 1999-3
BY: Robert Ashbaugh
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Vice President
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<PAGE> 4
EXHIBIT INDEX
20.1 Monthly statement to holders of Fremont Home Loan Asset-Backed Certificates
Series 1999-3 relating to the DECEMBER 27, 1999 Payment Date.
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<PAGE> 1
FREMONT HOME LOAN OWNER TRUST 1999-3
STATEMENT TO CERTIFICATEHOLDER
RECORD DATE: 11/30/99
PREVIOUS DISTRIBUTION: 11/26/99
DISTRIBUTION DATE: 12/27/99
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Certificate Certificate Certificate Total Certificate
Class Cusip Rate Balance Balance Interest Principal Distribution Balance
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 35729BAE1 5.9175% 325,000,000.00 318,423,369.10 1,570,225.24 3,388,753.07 4,958,978.31 315,034,616.03
Factors per
Thousand 4.83146228 10.42693252 15.25839480 969.33728009
- ----------------------------------------------------------------------------------------------------------------------------------
A-2 35729BAF8 5.9575% 161,000,000.00 157,888,920.75 783,852.70 2,623,325.64 3,407,178.34 155,265,595.11
Factors per
Thousand 4.86865031 16.29394807 21.16259839 964.38257832
- ----------------------------------------------------------------------------------------------------------------------------------
B 35729BAG6 9.2500% 14,257,334.00 14,257,334.00 109,900.28 0.00 109,900.28 14,257,334.00
Factors per
Thousand 7.70833313 0.00000000 7.70833313 1000.00000000
- ----------------------------------------------------------------------------------------------------------------------------------
*X 0.0000% 500,257,334.00 490,569,623.85 0.00 0.00 0.00 490,569,623.85
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R 0.0000% 0.00 0.00 0.00 0.00 0.00 0.00
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TOTALS 500,257,334.00 490,569,623.85 2,463,978.22 6,012,078.71 8,476,056.93 484,557,545.14
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</TABLE>
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
401 South Tryon Street, 12th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
<PAGE> 2
FREMONT HOME LOAN OWNER TRUST 1999-3
STATEMENT TO CERTIFICATEHOLDER
RECORD DATE: 11/30/99
PREVIOUS DISTRIBUTION: 11/26/99
DISTRIBUTION DATE: 12/27/99
<TABLE>
<CAPTION>
====================================================================================================================================
POOL 1
SCHEDULE OF REMITTANCE POOL INFORMATION
<S> <C> <S> <C>
Available Collection Amount 5,193,662.57 Aggregate Beginning Balance of Loans 248,211,278.30
(Trust Fees and Expenses) (160,270.79) Aggregate Ending Balance of Loans 245,790,020.50
Available Distribution Amount 5,033,391.78 Interest Carry-Forward 0.00
Regular Distribution Amount 3,991,483.01 Loan Count 2,452
Insured Payment 0.00 Overcollateralization Amount 11,332,522.75
Excess Spread 967,495.29 Overcollateralization Deficiency Amount 5,917,745.30
--------------- Overcollateralization Deficit Amount 0.00
Overcollateralization Reduction Amount 0.00
FEES Overcollateralization Target Amount 17,250,268.05
- ---- Principal Prepayments 2,296,475.30
Servicer Fee 68,258.10 Scheduled Principal 124,782.47
Master Servicer Fee 35,163.26 Securities Insurer Reimbursement 0.00
Trustee Fee 2,060.97 Weighted Average Home Loan Interest Rate (WAC) 9.9482%
Guaranty Insurance Premium 54,788.45 Weighted Average Maturity (WAM) 351.88
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TOTAL FEES 160,270.79
AGGREGATE INFORMATION
Capitalized Interest Requirement 995,571.83
Capitalized Interest Required Amount 0.00
Pre-Funding Account 121,708,378.44
Reserve Account Requirement 0.00
====================================================================================================================================
</TABLE>
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
401 South Tryon Street, 12th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
<PAGE> 3
FREMONT HOME LOAN OWNER TRUST 1999-3
STATEMENT TO CERTIFICATEHOLDER
RECORD DATE: 11/30/99
PREVIOUS DISTRIBUTION: 11/26/99
DISTRIBUTION DATE: 12/27/99
<TABLE>
<CAPTION>
====================================================================================================================================
POOL 2
SCHEDULE OF REMITTANCE POOL INFORMATION
<S> <C> <S> <C>
Available Collection Amount 3,521,962.54 Aggregate Beginning Balance of Loans 123,128,819.60
(Trust Fees and Expenses) (79,297.41) Aggregate Ending Balance of Loans 120,991,311.90
Available Distribution Amount 3,442,665.14 Interest Carry-Forward 0.00
Regular Distribution Amount 2,921,360.34 Loan Count 857
Insured Payment 0.00 Overcollateralization Amount 5,403,663.74
Excess Spread 485,818.00 Overcollateralization Deficiency Amount 3,135,689.35
--------------- Overcollateralization Deficit Amount 0.00
Overcollateralization Reduction Amount 0.00
FEES Overcollateralization Target Amount 8,539,353.08
- ---- Principal Prepayments 2,075,881.16
Servicer Fee 33,860.43 Scheduled Principal 61,626.48
Master Servicer Fee 17,443.25 Securities Insurer Reimbursement 0.00
Trustee Fee 1,020.58 Weighted Average Home Loan Interest Rate (WAC) 9.8318%
Guaranty Insurance Premium 26,973.15 Weighted Average Maturity (WAM) 353.00
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TOTAL FEES 79,297.41
====================================================================================================================================
</TABLE>
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
401 South Tryon Street, 12th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
<PAGE> 4
FREMONT HOME LOAN OWNER TRUST 1999-3
STATEMENT TO CERTIFICATEHOLDER
RECORD DATE: 11/30/99
PREVIOUS DISTRIBUTION: 11/26/99
DISTRIBUTION DATE: 12/27/99
<TABLE>
<CAPTION>
====================================================================================================================================
POOL 1
- --------------------------------- -----------------------------------------------------------------------------------------------
Aggregate Ending Balance of Loans DELINQUENT INFOR. # LOANS AMOUNT %
- --------------------------------- -----------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C>
$ 245,790,020.50 Delinquent 30-59 Days 2 120,459.12 0.049009%
- --------------------------------- Delinquent 60-89 Days 3 476,841.69 0.194004%
Delinquent 90+ Days 9 1,407,377.93 0.572594%
REO 0 0.00 0.000000%
Loans in Foreclosure 28 2,286,916.98 0.930435%
Loans in Bankruptcy 9 1,044,966.40 0.425146%
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TOTAL 51 5,336,562.12 2.171187%
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OTHER INFORMATION # LOANS AMOUNT CUMULATIVE
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Defaulted Home Loans 16 1,378,529.78 2,474,396.62
Liquidated Home Loans 0 0.00 0.00
Deleted Home Loans 0 0.00 0.00
Net Loan Losses 0 0.00 0.00
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====================================================================================================================================
</TABLE>
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
401 South Tryon Street, 12th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
<PAGE> 5
FREMONT HOME LOAN OWNER TRUST 1999-3
STATEMENT TO CERTIFICATEHOLDER
RECORD DATE: 11/30/99
PREVIOUS DISTRIBUTION: 11/26/99
DISTRIBUTION DATE: 12/27/99
<TABLE>
<CAPTION>
====================================================================================================================================
POOL 2
- --------------------------------- -----------------------------------------------------------------------------------------------
Aggregate Ending Balance of Loans DELINQUENT INFOR. # LOANS AMOUNT %
- --------------------------------- -----------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C>
$ 120,991,311.90 Delinquent 30-59 Days 9 747,930.15 0.618168%
- --------------------------------- Delinquent 60-89 Days 12 1,155,557.00 0.955074%
Delinquent 90+ Days 20 1,592,998.91 1.316623%
REO 0 0.00 0.000000%
Loans in Foreclosure 11 2,088,254.74 1.725954%
Loans in Bankruptcy 0 0.00 0.000000%
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TOTAL 52 5,584,740.80 4.615820%
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OTHER INFORMATION # LOANS AMOUNT CUMULATIVE
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Defaulted Home Loans 6 1,223,738.01 1,900,775.10
Liquidated Home Loans 0 0.00 0.00
Deleted Home Loans 0 0.00 0.00
Net Loan Losses 0 0.00 0.00
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====================================================================================================================================
</TABLE>
FIRST UNION NATIONAL BANK ROBERT ASHBAUGH
Structured Finance Trust Services VICE PRESIDENT
401 South Tryon Street, 12th Floor PHONE: 704-383-9568
Charlotte, North Carolina 28288-1179 FAX: 704-383-6039
