- --------------------------------------------------------------------------------
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
SUPERIOR BANK FSB (as depositor under the Pooling and Servicing Agreement, dated
as of September 1, 1999, providing for the issuance of AFC Mortgage Loan Asset
Backed Certificates, Series 1999-3)
Superior Bank FSB
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
United States 333-83597 36-1414142
- ---------------------------- ----------- ----------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
One Lincoln Centre
Oakbrook Terrace, Illinois 60181
- -------------------------- ----------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (630) 916-4000
- --------------------------------------------------------------------------------
<PAGE>
Item 5. Other Events
On December 27, 1999 (a "Remittance Date") a scheduled remittance was made to
the Certificateholders with respect to AFC Mortgage Loan Asset Backed
Certificates, Series 1999-3, issued pursuant to a Pooling and Servicing
Agreement, dated as of September 1, 1999, among Superior Bank FSB., as Depositor
and Servicer and LaSalle National Bank, as Trustee. The information contained in
the Servicer's Monthly Remittance Report to the Trustee, which shall be
forwarded by the Trustee to the Certificateholders, is attached hereto as
Exhibit 21.1 and is incorporated herein by reference.
Capitalized terms used herein and not defined shall have the same meanings
ascribed to them in the Pooling and Servicing Agreement.
Items 2 through 4 and Items 6 and 8 are not included because they are not
applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits
21.1 Monthly Remittance Report for the month of December, 1999.
<PAGE>
SIGNATURES
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.
SUPERIOR BANK F.S.B.
By: /s/ William C. Bracken
------------------------------------
Name: William C. Bracken
Title:Senior Vice President
Dated: December 27,1999
<PAGE>
EXHIBITS TABLE
21.1 Monthly Remittance Report for the month of December, 1999.
ALLIANCE FUNDING COMPANY
BY SUPERIOR BANK - FSB SERVICING DIVISION
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
AFC MORTGAGE LOAN ASSET BACKED NOTES, SERIES
1999-3 GROUP 1
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF SEPTEMBER 1, 1999
SUPERIOR BANK - FSB SERVICING DIVISION REPORTS THE FOLLOWING
information pertaining to Series 1999-3 Group 1 for December 27, 1999, the
Remittance date.
Due period ended: December 1, 1999
- --------------------------------------------------------------------------------
1 Total Actual Principal Collections 1,612,615.88
2 Total Permanent Buydown Companion Interest 62,957.63
3 Total Actual Interest Collections 2,085,135.06
4 Less Service Fees Service Fees Previously Remitted 129,124.81
5 Additional Proceeds 0.00
------------
6 Total Collections: 3,631,583.76
7 Pre-Funding Account Transfer 0.00
8 Interest Coverage Account Transfer 0.00
9 Deferred Interest Coverage Account Transfer 85,695.51
------------
10 Aggregate Amount Received: 3,717,279.27
Monthly Advances
11 Interest Advance 626,374.47
12 Compensating Interest 4,227.40
13 Amounts Held for Future Distributions 0.00
14 Cross Collateral Deposit 0.00
15 Reserve Withdrawal per Sec. 6.14c 0.00
------------
16 Available Remittance Amount: 4,347,881.14
17 Service Fees 5,352.03
18 Expense Account Deposit: 2,715.37
------------
19 Adjusted Remittance Amount: 4,339,813.74
Remaining Amount Available:
20 Adjusted Remittance Amount 4,339,813.74
21 Insured Payments 0.00
22 Monthly Premium @ 20 bp
due Certificate Insurer 51,566.31
23 Cross Collateral Withdrawal 0.00
24 Class Remittance Amounts 4,288,247.43
25 Non-Recoverable Advances not
Previously Reimbursed 0.00
============
Total Remaining Amount Available: 0.00
============
Amount of Reimbursements Pursuant to Sec. 5.04
26 Servicing Fee 0.00
27 Monthly Advances and Servicer Advances 0.00
28 Other Mortgage Payments 0.00
29 Interest Earned on P&I Deposits 0.00
30 Additional Servicing Compensation 0.00
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Page 1 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
BY SUPERIOR BANK - FSB SERVICING DIVISION
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
AFC MORTGAGE LOAN ASSET BACKED NOTES, SERIES
1999-3 GROUP 1
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF SEPTEMBER 1, 1999
SUPERIOR BANK - FSB SERVICING DIVISION REPORTS THE FOLLOWING
information pertaining to Series 1999-3 Group 1 for December 27, 1999, the
Remittance date.
Due period ended: December 1, 1999
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
TOTAL CLASS 1A EQUITY CERTIFICATE
----- -------- ------------------
<S> <C> <C> <C>
31 Loans Outstanding - BOM 5343
32 Original Loan Balance 325,844,253.63 325,844,253.63 0.00
34 Pre-Funding Account Balance 0.00 0.00 0.00
35 Initial Overcollateralization 14,833,737.87 14,833,737.87 0.00
36 Realized Losses, LTD 0.00 0.00 0.00
38 Carryforward Amount 0.00 0.00 0.00
39 Aggregate Unpaid Principal Balance of Delinquent
Loans Repurchased per Sec. 5.11 0.00 0.00
-----------------------------------------------------------
40 Total Class Note Principal Balance 311,010,515.76 311,010,515.76
41 Group Factor per Loan Balance 103.4426202% 103.4426202%
42 Group Factor per Class Note Balance 98.7334971% 98.7334971%
43 Excess Spread 0.00 0.00
44 Cross Collateral Withdrawal 0.00 0.00
45 Cross Collateral Deposit 0.00 0.00
46 Additional Principal due Note A 1,023,550.17 1,023,550.17
47 Interest Remittance @ Pass-Through Rates 1,652,081.38 1,652,081.38
PRINCIPAL ADDITIONS:
48 Number of loans 0 0
49 Transfers from Pre-Funding Account 0.00 0.00 0.00
PRINCIPAL REDUCTIONS:
50 Prepayments - Number 26 26
51 Prepayments - Dollar 1,239,367.48 1,239,367.48
52 Delinquent Loans Repurchased - Number 0 0.00
53 Delinquent Loans Repurchased - Dollar 0.00 0.00
54 Net Liquidation Proceeds 0.00 0.00
55 Curtailments 87,986.37 87,986.37
56 Normal and Excess Payments 285,262.03 285,262.03
57 Pre-Funding Account Transfer 0.00 0.00
-----------------------------------------------------------
58 Total Principal Remittance 1,612,615.88 1,612,615.88
59 Additional Principal Reduction 1,023,550.17 1,023,550.17
-----------------------------------------------------------
60 Total Remittance 4,288,247.43 4,288,247.43 0.00
===========================================================
61 Current Month Realized Loss - Number 0 0
62 Current Month Realized Loss - Dollar 0.00 0.00
61 LTD Realized Loss - Number 0
62 LTD Realized Loss - Dollar 0.00
CLASS NOTE PRINCIPAL BALANCE - EOM
64 Loans Outstanding - EOM 5317
65 Closing Loan Balance 324,231,637.75 324,231,637.75
67 Pre-Funding Account Balance 0.00 0.00
68 Additional Principal Reduction, LTD 15,857,288.04 15,857,288.04
69 Realized losses, LTD 0.00 0.00
71 Aggregate Unpaid Principal Balance of Delinquent
72 Loans Repurchased per Sec. 5.11 0.00 0.00
-----------------------------------------------------------
73 Total Class Note Principal Balance 308,374,349.71 308,374,349.71
74 Group Factor per Loan Balance 102.9306787% 102.9306787%
75 Group Factor per Class Note Balance 97.8966190% 97.8966190%
</TABLE>
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Page 2 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
BY SUPERIOR BANK - FSB SERVICING DIVISION
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
AFC MORTGAGE LOAN ASSET BACKED NOTES, SERIES
1999-3 GROUP 1
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF SEPTEMBER 1, 1999
SUPERIOR BANK - FSB SERVICING DIVISION REPORTS THE FOLLOWING
information pertaining to Series 1999-3 Group 1 for December 27, 1999, the
Remittance date.
Due period ended: December 1, 1999
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
TOTAL CLASS A-1
----- ---------
<S> <C> <C> <C>
76 Weighted Note Rate - THIS Remittance 10.40766%
77 Weighted Note Rate - NEXT Remittance 10.46852%
78 Related Remittance Period for Libor Rate 26-Nov-99 thru 26-Dec-99
79 Days in Related Period 31
80 Pass-Through Rates 6.16875%
81 Weighted Average Remaining Term 257.60
82 Original Pool - Principal Balance 202,789,370.29 202,789,370.29
84 Original Pool - Pre-Funding Account 124,483,356.98 124,483,356.98
85 Original Pool - Additional Principal Reduction 12,272,727.27 12,272,727.27
---------------------------------------------------
86 Original Pool Total 315,000,000.00 315,000,000.00
87 Original Pool - Number of Loans 3224
</TABLE>
CLASS A OVERCOLLATERALIZATION RECONCILIATION
<TABLE>
<CAPTION>
Beg.of Month Current Month End of Month
---------------------------------------------
<S> <C> <C> <C>
88 Additional Principal Reduction, LTD 14,833,737.87 1,023,550.17 15,857,288.03
89 Cross Collateral Deposits 0.00 0.00 0.00
90 Realized Losses, LTD 0.00 0.00 0.00
---------------------------------------------
92 Overcollateralization of Principal 14,833,737.87 1,023,550.17 15,857,288.03
=============================================
93 Base Overcollateralization Required 26,181,818.18
94 Required Overcollateralization Amount 26,181,818.18
<CAPTION>
AGGREGATE OVERCOLLATERALIZATION RECONCILIATION
Beg.of Month Current Month End of Month
---------------------------------------------
<S> <C> <C> <C>
Class 1A Overcollateralization of Principal 14,833,737.87 1,023,550.17 15,857,288.03
Class 2A Overcollateralization of Principal 8,280,361.29 679,954.14 8,960,315.43
---------------------------------------------
Overcollateralization of Principal 23,114,099.16 1,703,504.31 24,817,603.46
=============================================
Base Aggregate Overcollateralization Required 39,707,889.42
Required Aggregate Overcollateralization Amount 39,707,889.42
<CAPTION>
CURRENT MONTH SUBORDINATED AMOUNT BEG.OF MONTH CURRENT MONTH END OF MONTH
---------------------------------------------
<S> <C> <C> <C>
95 Original Subordinated Amount 40,909,090.91 N/A 40,909,090.91
96 Less: Cumulative Realized Losses 0.00 0.00 0.00
97 Plus: Cumulative Additional Proceeds 0.00 0.00 0.00
---------------------------------------------
98 Current Subordinated Amount 40,909,090.91 40,909,090.91
=============================================
NONRECOVERABLE ADVANCE RECONCILIATION
99 Beginning of Month 0.00
100 Current Month Unpaid Nonrecoverable Advance 0.00
101 Less: Current Month Reimbursement 0.00
--------------
102 End of Month 0.00
</TABLE>
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Page 3 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
BY SUPERIOR BANK - FSB SERVICING DIVISION
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
AFC MORTGAGE LOAN ASSET BACKED NOTES, SERIES
1999-3 GROUP 1
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF SEPTEMBER 1, 1999
SUPERIOR BANK - FSB SERVICING DIVISION REPORTS THE FOLLOWING
information pertaining to Series 1999-3 Group 1 for December 27, 1999, the
Remittance date.
Due period ended: December 1, 1999
- --------------------------------------------------------------------------------
CLASS
TOTAL A1
-----------------------------------
103 Total Class Note Principal -
Original Pool $ 315,000,000.00 $ 315,000,000.00
104 Interest Remittance Amount 1,652,081.38 1,652,081.38
105 Interest Rate Factor / 1000 5.244703 5.244703
106 Total Principal Collections 1,612,615.88 1,612,615.88
107 Prefunding Account Transfer 0.00 0.00
108 Additional Principal Reduction 1,023,550.17 1,023,550.17
-----------------------------------
109 Principal Remittance Amount 2,636,166.05 2,636,166.05
110 Principal Payment Factor/1000 8.368781 8.368781
111 Principal Factor 978.966189 978.966189
112 Prior Month Principal Factor 987.334970 987.334970
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Page 4 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
BY SUPERIOR BANK - FSB SERVICING DIVISION
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
AFC MORTGAGE LOAN ASSET BACKED NOTES, SERIES
1999-3 GROUP 2
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF SEPTEMBER 1, 1999
SUPERIOR BANK - FSB SERVICING DIVISION REPORTS THE FOLLOWING
information pertaining to Series 1999-3 Group 1 for December 27, 1999, the
Remittance date.
Due period ended: December 1, 1999
- --------------------------------------------------------------------------------
1 Total Actual Principal Collections 1,870,014.88
3 Total Actual Interest Collections 1,247,794.45
4 Less Service Fees Service Fees Previously Remitted 76,054.19
5 Additional Proceeds
------------
6 Total Collections: 3,041,755.14
7 Pre-Funding Account Transfer 0.00
8 Interest Coverage Account Transfer 0.00
9 Deferred Interest Coverage Account Transfer 27,925.53
------------
10 Aggregate Amount Received: 3,069,680.67
Monthly Advances
11 Interest Advance 519,689.94
12 Compensating Interest 10,278.18
13 Amounts Held for Future Distributions 0.00
14 Cross Collateral Deposit 0.00
15 Reserve Withdrawal per Sec. 6.14c 0.00
------------
16 Available Remittance Amount: 3,599,648.79
17 Service Fees on Interest Coverage 1,682.96
18 Expense Account Deposit: 1,709.94
------------
19 Adjusted Remittance Amount: 3,596,255.89
Remaining Amount Available:
20 Adjusted Remittance Amount 3,596,255.89
21 Insured Payments 0.00
22 Monthly Premium @ 20 bp
due Certificate Insurer 32,507.14
23 Cross Collateral Withdrawal 0.00
24 Class Remittance Amounts 3,563,748.75
25 Non-Recoverable Advances not
Previously Reimbursed 0.00
------------
Total Remaining Amount Available: 0.00
============
Amount of Reimbursements Pursuant to Sec. 5.04
26 Servicing Fee 0.00
27 Monthly Advances and Servicer Advances 0.00
28 Other Mortgage Payments 0.00
29 Interest Earned on P&I Deposits 0.00
30 Additional Servicing Compensation 0.00
------------
- --------------------------------------------------------------------------------
Page 1 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
BY SUPERIOR BANK - FSB SERVICING DIVISION
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
AFC MORTGAGE LOAN ASSET BACKED NOTES, SERIES
1999-3 GROUP 2
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF SEPTEMBER 1, 1999
SUPERIOR BANK - FSB SERVICING DIVISION REPORTS THE FOLLOWING
information pertaining to Series 1999-3 Group 1 for December 27, 1999, the
Remittance date.
Due period ended: December 1, 1999
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
TOTAL CLASS 1A EQUITY CERTIFICATES
----- -------- -------------------
<S> <C> <C> <C>
31 Loans Outstanding - BOM 2248
32 Original Loan Balance 205,193,192.01 205,193,192.01
34 Pre-Funding Account Balance 0.00 0.00
35 Initial Overcollatera00zation 8,280,361.29 8,280,361.29
36 Realized Losses, LTD 0.00 0.00
38 Carryforward Amount 22 0.00
39 Aggregate Unpaid Principal Balance of Delinquent
Loans Repurchased per Sec. 5.11 0.00 0.00
-----------------------------------------------------------------
40 Total Class Note Principal Balance 196,912,830.72 196,912,830.72
41 Group Factor per00oan Balance 102.5965960% 102.5965960%
42 Group Factor per00ote Balance 98.4564154% 98.4564154%
43 Excess Spread 0.00 0.00
44 Cross Collateral Withdrawal 0.00 0.00
45 Cross Collateral Deposit 0.00 0.00
46 Additional Principal due Class A 679,954.14 679,954.14
47 Interest Remittance @ Pass-Through Rates 1,013,779.73 1,013,779.73
PRINCIPAL ADDITIONS:
48 Number of loans 0 0
49 Transfers from Pre-Funding Account 0.00 0.00
PRINCIPAL REDUCTIONS:
50 Prepayments - Number 17 17
51 Prepayments - Dollar 1,799,407.52 1,799,407.52
52 Delinquent Loans Repurchased - Number 0 0.00
53 Delinquent Loans Repurchased - Dollar 0.00 0.00
54 Net Liquidation Proceeds 0.00 0.00
55 Curtailments 0.00 0.00
56 Normal and Excess Payments 70,607.36 70,607.36
57 Pre-Funding Account Transfer 0.00 0.00
-----------------------------------------------------------------
58 Total Principal Remittance 1,870,014.88 1,870,014.88
59 Additional Principal Reduction 679,954.14 679,954.14
-----------------------------------------------------------------
60 Total Remittance 3,563,748.75 3,563,748.75 0.00
=================================================================
61 Current Month Realized Loss - Number 0 0
62 Current Month Realized Loss - Dollar 0.00 0.00
63 LTD Realized Loss - Number 0
64 LTD Realized Loss - Dollar 0.00
CLASS NOTE PRINCIPAL BALANCE - EOM
65 Loans Outstanding - EOM 2231
66 Closing Loan Balance 203,323,177.13 203,323,177.13
67 Pre-Funding Account Balance 0.00 0.00
68 Additional Principal Reduction, LTD 8,960,315.43 8,960,315.43
69 Realized losses, LTD 0.00 0.00
70 Aggregate Unpaid Principal Balance of Delinquent
Loans Repurchased per Sec. 5.11 0.00 0.00
-----------------------------------------------------------------
71 Total Class Note Principal Balance 194,362,861.70 194,362,861.70
72 Group Factor per Loan Balance 101.6615886% 101.6615886%
73 Group Factor per Class Note Balance 97.1814308% 97.1814309%
</TABLE>
- --------------------------------------------------------------------------------
Page 2 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
BY SUPERIOR BANK - FSB SERVICING DIVISION
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
AFC MORTGAGE LOAN ASSET BACKED NOTES, SERIES
1999-3 GROUP 2
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF SEPTEMBER 1, 1999
SUPERIOR BANK - FSB SERVICING DIVISION REPORTS THE FOLLOWING
information pertaining to Series 1999-3 Group 1 for December 27, 1999, the
Remittance date.
Due period ended: December 1, 1999
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
TOTAL CLASS A-1
----- ---------
<S> <C> <C> <C>
74 Weighted Note Rate - THIS Remittance 10.78552%
75 Weighted Note Rate - NEXT Remittance 10.75411%
76 Related Remittance Period for Libor Rate 26-Nov-99 thru 26-Dec-99
77 Days in Related Period 31
78 Pass-Through Rates 5.97875%
79 Weighted Average Remaining Term 355.71
80 Original Pool - Principal Balance 128,473,131.74 128,473,131.74
81 Original Pool - Pre-Funding Account 78,031,772.75 78,031,772.75
82 Original Pool - Additional Principal Reduction 6,504,904.49 6,504,904.49
83 Original Pool Total 200,000,000.00 200,000,000.00
84 Original Pool - Number of Loans 1402
</TABLE>
- --------------------------------------------------------------------------------
CLASS A OVERCOLLATERALIZATION RECONCILIATION
<TABLE>
<CAPTION>
Beg.of Month Current Month End of Month
--------------------------------------------
<S> <C> <C> <C>
85 Additional Principal Reduction, LTD 8,280,361.29 679,954.14 8,960,315.43
86 Cross Collateral Deposits 0.00 0.00 0.00
87 Realized Losses, LTD 0.00 0.00 0.00
--------------------------------------------
88 Overcollateralization of Principal 8,280,361.29 679,954.14 8,960,315.43
============================================
89 Base Overcollateralization Required 13,526,071.24
90 Required Overcollateralization Amount 13,526,071.24
<CAPTION>
AGGREGATE OVERCOLLATERALIZATION RECONCILIATION
Beg.of Month Current Month End of Month
--------------------------------------------
<S> <C> <C> <C>
91 Class 1A Overcollateralization of Principal 14,833,737.87 1,023,550.17 15,857,288.03
92 Class 2A Overcollateralization of Principal 8,280,361.29 679,954.14 8,960,315.43
--------------------------------------------
93 Overcollateralization of Principal 23,114,099.16 1,703,504.31 24,817,603.46
============================================
<CAPTION>
94 Base Aggregate Overcollateralization Required 39,707,889.42
95 Required Aggregate Overcollateralization Amount 39,707,889.42
CURRENT MONTH SUBORDINATED AMOUNT BEG.OF MONTH CURRENT MONTH END OF MONTH
--------------------------------------------
<S> <C> <C> <C>
96 Original Subordinated Amount 26,845,637.58 N/A 26,845,637.58
97 Less: Cumulative Realized Losses 0.00 0.00 0.00
98 Plus: Cumulative Additional Proceeds 0.00 0.00 0.00
--------------------------------------------
99 Current Subordinated Amount 26,845,637.58 26,845,637.58
============================================
NONRECOVERABLE ADVANCE RECONCILIATION
100 Beginning of Month 0.00
101 Current Month Unpaid Nonrecoverable Advance 0.00
102 Less: Current Month Reimbursement 0.00
-------------
103 End of Month 0.00
-------------
</TABLE>
- --------------------------------------------------------------------------------
Page 3 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
BY SUPERIOR BANK - FSB SERVICING DIVISION
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
AFC MORTGAGE LOAN ASSET BACKED NOTES, SERIES
1999-3 GROUP 2
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF SEPTEMBER 1, 1999
SUPERIOR BANK - FSB SERVICING DIVISION REPORTS THE FOLLOWING
information pertaining to Series 1999-3 Group 1 for December 27, 1999, the
Remittance date.
Due period ended: December 1, 1999
- --------------------------------------------------------------------------------
CLASS
TOTAL A1
-----------------------------------
104 Total Class Note Principal -
Original Pool $ 200,000,000.00 $ 200,000,000.00
105 Interest Remittance Amount 1,013,779.73 1,013,779.73
106 Interest Rate Factor / 1000 5.068899 5.068899
107 Total Principal Collections 1,870,014.88 1,870,014.88
108 Prefunding Account Transfer 0.00 0.00
109 Additional Principal Reduction 679,954.14 679,954.14
-----------------------------------
110 Principal Remittance Amount 2,549,969.02 2,549,969.02
111 Principal Payment Factor/1000 12.749845 12.749845
112 Principal Factor 971.814309 971.814309
113 Prior Month Principal Factor 984.564154 984.564154
- --------------------------------------------------------------------------------
Page 4 of 4
