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Previous: CONSECO FINANCE SECURITIZATIONS CORP, 8-K, 1999-12-01 |
Next: MCAFEE COM CORP, S-1/A, 1999-12-01 |
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: November 26, 1999
ADVANTA Revolving Home Equity Loan Trust 1999-B
New York 333-75295-02 "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 October 1999 Monthly Period of the Trust in respect of
the Revolving Home Equity Loan Asset Backed Notes,
Series 1999-B, (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 September 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 October 1999 Monthly
Period relating to the Revolving Home Equity
Loan Asset Backed Notes, Series 1999-B,
issued by the ADVANTA Revolving
Home Equity Loan Trust 1999-B.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the October 1999 Monthly
Period relating to the Revolving Home Equity
Loan Asset Backed Notes, Series 1999-B,
issued by the ADVANTA Revolving
Home Equity Loan Trust 1999-B.
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 Revolving Home Equity Loan Trust 1999-B
BY: ADVANTA Mortgage Corp., USA
BY: /s/ H. John Berens
H. John Berens
Senior Vice President
Advanta Mortgage
November 26, 1999
<TABLE>
EXHIBIT 1
<CAPTION>
ADVANTA Revolving Home Equity Loan Trust 1999-B
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>
Notes 275,000,000. 272,827,44 1,401,42 4,316,845 5,718,26
Certs
Totals 275,000,000. 272,827,44 1,401,42 4,316,845 5,718,26
</TABLE>
<TABLE>
<CAPTION>
Current
Deferred Principal
Class Interest Balance
<S> <C> <C>
Notes 268,510,599.24
Certs -
Totals 268,510,599.24
</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>
Notes 10/25/99 11/25/99 A-Act/360 00759OAVO 275,000,000. 992.099
Certs -
</TABLE>
<TABLE>
<CAPTION>
Current
Total Principal
Class Interest Principal Distribution Balance
<S> <C> <C> <C> <C>
Notes 5.0 15. 20.7 976.402179
Certs -
</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>
Notes 275,000,000. 2,587,3 6,489,400 6,489,40 9,076,761
Certs
Totals 275,000,000. 2,587,3 6,489,400 6,489,40 9,076,761
</TABLE>
<TABLE>
<CAPTION>
Current
Realized Deferred Principal
Class Losses Interest Balance
<S> <C> <C> <C>
Notes 268,510,599.24
Certs -
Totals 268,510,599.24
</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>
Notes 5.77875% 272,827,44 1,401,42
Certs
Totals 272,827,44 1,401,42
</TABLE>
<TABLE>
<CAPTION>
Paid or Current
Optimal Deferred Unpaid
Class Interest Interest Interest
<S> <C> <C> <C>
Notes 1,401,42 1,401,4 -
Certs -
Totals 1,401,42 1,401,4 -
</TABLE>
<TABLE>
Collection Account Report
<CAPTION>
Summary Total
<S> <C> <C> <C> <C> <C> <C>
Principal Collections 3,339,483
Principal Withdrawals
Principal Other Accounts
TOTAL NET PRINCIPAL 3,339,483
Interest Collects 1,975,645
Interest Withdrawals
Interest Fees (126,62
Interest Other Accounts 529,76
TOTAL INTEREST 2,378,785
TOTAL AVAILABLE TO BONDHOLDERS 5,718,268
</TABLE>
<TABLE>
<CAPTION>
Principal - Collections Total
<S> <C> <C> <C> <C> <C> <C>
Principal Received 3,339,483
Repurchases/Substitutions
Liquidations
Insurance Principal
Realized Losses
TOTAL PRINCIPAL COLLECTED 3,339,483
</TABLE>
<TABLE>
Collection Account Report
<CAPTION>
Principal - Withdrawals Total
<S> <C> <C> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
<CAPTION>
Principal - Other Accounts Total
<S> <C> <C> <C> <C> <C> <C>
Prefunded Termination Amt
Other Principal
TOTAL OTHER ACCOUNTS PRINCIPAL
</TABLE>
<TABLE>
<CAPTION>
Interest - Collections Total
<S> <C> <C> <C> <C> <C> <C>
Interest Received 1,975,645
Repurchases/Substitutions
Liquidations
Insurance Interest
Other Additional Interest
Interest Realized Losses
TOTAL INTEREST COLLECTED 1,975,645
</TABLE>
<TABLE>
Collection Account Report
<CAPTION>
Interest - Withdrawals Total
<S> <C> <C> <C> <C> <C> <C>
Insurer Reimbursement Amounts
Reimburse Indenture And Owner Trustee Expenses
Reimburse to Servicer Nonrecoverable Advances
TOTAL INTEREST WITHDRAWALS
</TABLE>
<TABLE>
<CAPTION>
Interest - Other Accounts Total
<S> <C> <C> <C> <C> <C> <C>
Capitalized Interest Requirement 272,31
Pre-Funding Interest Earnings 257,45
Collection Account Interest Earnings
TOTAL OTHER ACCOUNT INTEREST 529,76
</TABLE>
<TABLE>
<CAPTION>
Interest - Fees Total
<S> <C> <C> <C> <C> <C> <C>
Servicing Fees 63,4
Indenture Trustee Fees 3,6
Owner Trustee Fees
Certificate Insurer Premiums 59,1
TOTAL INTEREST FEES 126,62
</TABLE>
<TABLE>
Credit Enhancement Report
<CAPTION>
Accounts Total
<S> <C> <C> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
<CAPTION>
Insurance Total
<S> <C> <C> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
<CAPTION>
Structural Features Total
<S> <C> <C> <C> <C> <C> <C>
Specified Overcollateralization Amount 34,736,842.11
Current Overcollateralization Amount 17,772,281.11
Overcollateralization Deficit
Overcollateralization Reduction Amount
</TABLE>
<TABLE>
Delinquency Report - Total
<CAPTION>
Current 1 Payment 2 Payments 3+ Payments Total
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 1,910,85 731,71 191,1 2,833,700
% Balance 0.93% 0.36% 0.09% 1.38%
# Loans 69 28 8 105
% # Loans 0.00% 0.00% 0.00% 0.00%
FORECLOSURE Balance
% Balance 0.00% 0.00% 0.00% 0.00% 0.00%
# Loans
% # Loans 0.00% 0.00% 0.00% 0.00% 0.00%
BANKRUPTCY Balance 27 30,3 42,4 100,51
% Balance 0.01% 0.01% 0.00% 0.02% 0.04%
# Loans 2 4
% # Loans 0.00% 0.00% 0.00% 0.00% 0.00%
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 27 1,941,17 731,71 233,5 2,934,215
% Balance 0.01% 0.94% 0.36% 0.11% 1.42%
# Loans
% # Loans 0.00% 0.00% 0.00% 0.00% 0.00%
Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+
</TABLE>
<TABLE>
Triggers, Adj. Rate Cert. And Miscellaneous Report
<CAPTION>
Trigger Events Total
<S> <C> <C> <C> <C> <C> <C>
Overcollateralization Trigger Event Occurred? No
</TABLE>
<TABLE>
<CAPTION>
Adjustable Rate Certificate Information Total
<S> <C> <C> <C> <C> <C> <C>
Current LIBOR 5.408750%
Next LIBOR 5.590000%
Next Notes Pass Through Rate 5.960000%
Net Funds Cap Rate 11.707013%
Net Funds Cap Carry-Forward Amount
</TABLE>
<TABLE>
<CAPTION>
Additional Information Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
Other Related Information
<CAPTION>
Additional Information Total
<S> <C> <C> <C> <C> <C> <C>
POOL INFORMATION
Beginning Pool & Prefunded Balance 288,582,093.
Total Principal Received (3,339,483
Draws 1,040,269
Ending Pool & Prefunded Balance 286,282,880.
PREFUNDING INFORMATION
Beginning Prefunding Balance 105,273,487.
Prefunding Withdrawals (23,549,094.
Prefunding Termination
Ending Prefunding Amount 81,724,392.
Interest Earned On Prefunding Account
Beginning Capitalized Interest Balance 1,529,038
Capitalized Interest Requirement 272,31
Capitalized Interest Termination
Ending Capitalized Interest Account 1,256,726
</TABLE>
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