|
|
|
|
|
|
|
|
|
|
Previous: ACUBID COM INC, 10SB12G/A, 1999-12-07 |
Next: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1999 24, 8-K, 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
AMRESCO RESIDENTIAL SECURITIES CORPORATION
Mortgage-Loan Trust, Series 1999-1
New York (governing law of 333-30759-06 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: (301) 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 AMRESCO
RESIDENTIAL SECURITIES CORPORATION, Mortgage-Loan Trust,
Series 1999-1 .
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 Mortgage-Loan Trust, Series 1999-1 , 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.
AMRESCO RESIDENTIAL SECURITIES CORPORATION
Mortgage-Loan Trust, Series 1999-1
By: Norwest Bank MN, as Trustee
By: /s/ Sherri Sharps, Vice President
By: Sherri Sharps, Vice President
Date: 12/1/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of AMRESCO RESIDENTIAL
SECURITIES CORPORATION Mortgage-Loan Trust, Series 1999-1,
relating to the November 26, 1999 distribution.
<TABLE>
<CAPTION>
Amresco Residential Securities Corp.
Mortgage Pass-Through Certificates
Record Date: 10/31/99
Distribution Date: 11/26/99
AMRESCO Series: 1999-1
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 03215PFN4 SEQ 5.87875% 175,984,305.41 862,139.78 1,732,898.28
M-1 03215PFP9 MEZ 6.15875% 13,690,000.00 70,261.07 0.00
M-2 03215PFQ7 MEZ 6.75875% 8,572,000.00 48,280.00 0.00
B 03215PFR5 SUB 8.90875% 9,615,000.00 71,381.36 0.00
X AMR99002X SUB 0.00000% 4,792,500.00 0.00 0.00
R-I AMR9900R1 SEN 0.00000% 0.00 0.00 0.00
R-II AMR9900R2 SEN 0.00000% 0.00 0.00 0.00
R-III AMR9900R3 SEN 0.00000% 0.00 0.00 0.00
R-IV AMR9900R4 SEN 0.00000% 0.00 0.00 0.00
Totals 212,653,805.41 1,052,062.21 1,732,898.28
</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 0.00 174,251,407.13 2,595,038.06 0.00
M-1 0.00 13,690,000.00 70,261.07 0.00
M-2 0.00 8,572,000.00 48,280.00 0.00
B 0.00 9,615,000.00 71,381.36 0.00
X 0.00 4,792,500.00 0.00 0.00
R-I 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00
Totals 0.00 210,920,907.13 2,784,960.49 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 (1)
<S> <C> <C> <C> <C> <C> <C>
A 176,863,000.00 175,984,305.41 124,439.50 1,608,458.78 0.00 0.00
M-1 13,690,000.00 13,690,000.00 0.00 0.00 0.00 0.00
M-2 8,572,000.00 8,572,000.00 0.00 0.00 0.00 0.00
B 9,615,000.00 9,615,000.00 0.00 0.00 0.00 0.00
X 4,260,000.00 4,792,500.00 0.00 0.00 0.00 0.00
R-I 0.00 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00 0.00 0.00
Totals 213,000,000.00 212,653,805.41 124,439.50 1,608,458.78 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 1,732,898.28 174,251,407.13 0.98523381 1,732,898.28
M-1 0.00 13,690,000.00 1.00000000 0.00
M-2 0.00 8,572,000.00 1.00000000 0.00
B 0.00 9,615,000.00 1.00000000 0.00
X 0.00 4,792,500.00 1.12500000 0.00
R-I 0.00 0.00 0.00000000 0.00
R-II 0.00 0.00 0.00000000 0.00
R-III 0.00 0.00 0.00000000 0.00
R-IV 0.00 0.00 0.00000000 0.00
Totals 1,732,898.28 210,920,907.13 0.99023900 1,732,898.28
</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 176,863,000.00 995.03177833 0.70359261 9.09437689 0.00000000
M-1 13,690,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 8,572,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 9,615,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
X 4,260,000.00 1125.00000000 0.00000000 0.00000000 0.00000000
R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All Classes are per $1,000 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 0.00000000 9.79796950 985.23380882 0.98523381 9.79796950
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
X 0.00000000 0.00000000 1,125.00000000 1.12500000 0.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 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 176,863,000.00 5.87875% 175,984,305.41 862,139.78 0.00 0.00
M-1 13,690,000.00 6.15875% 13,690,000.00 70,261.07 0.00 0.00
M-2 8,572,000.00 6.75875% 8,572,000.00 48,280.00 0.00 0.00
B 9,615,000.00 8.90875% 9,615,000.00 71,381.36 0.00 0.00
X 4,260,000.00 0.00000% 4,792,500.00 0.00 0.00 0.00
R-I 0.00 0.00000% 0.00 0.00 0.00 0.00
R-II 0.00 0.00000% 0.00 0.00 0.00 0.00
R-III 0.00 0.00000% 0.00 0.00 0.00 0.00
R-IV 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 213,000,000.00 1,052,062.21 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 0.00 0.00 862,139.78 0.00 174,251,407.13
M-1 0.00 0.00 70,261.07 0.00 13,690,000.00
M-2 0.00 0.00 48,280.00 0.00 8,572,000.00
B 0.00 0.00 71,381.36 0.00 9,615,000.00
X 0.00 0.00 0.00 0.00 4,792,500.00
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00
R-IV 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 1,052,062.21 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 176,863,000.00 5.87875% 995.03177833 4.87461923 0.00000000 0.00000000
M-1 13,690,000.00 6.15875% 1000.00000000 5.13229145 0.00000000 0.00000000
M-2 8,572,000.00 6.75875% 1000.00000000 5.63229118 0.00000000 0.00000000
B 9,615,000.00 8.90875% 1000.00000000 7.42395840 0.00000000 0.00000000
X 4,260,000.00 0.00000% 1125.00000000 0.00000000 0.00000000 0.00000000
R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Classes are per $1,000 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 0.00000000 0.00000000 4.87461923 0.00000000 985.23380882
M-1 0.00000000 0.00000000 5.13229145 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 5.63229118 0.00000000 1000.00000000
B 0.00000000 0.00000000 7.42395840 0.00000000 1000.00000000
X 0.00000000 0.00000000 0.00000000 0.00000000 1125.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-IV 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 ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 2,776,228.11
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 98,812.51
Realized Losses 0.00
Total Deposits 2,875,040.62
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 90,080.13
Payment of Interest and Principal 2,784,960.49
Total Withdrawals (Pool Distribution Amount) 2,875,040.62
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 87,883.04
Trustee Fee - Norwest Bank 2,197.09
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 90,080.13
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Basis Risk Reserve Fund 1,000.00 0.00 0.00 1,000.00
Credit Reserve Fund 838,094.07 0.00 581,749.00 1,419,843.10
</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 123 8,431,749.11 4.880952% 3.997588%
60 Days 37 2,634,957.17 1.468254% 1.249263%
90+ Days 2 121,245.33 0.079365% 0.057484%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 162 11,187,951.61 6.428571% 5.304335%
</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 98,812.51
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 9.727874%
Weighted Average Net Coupon 9.307870%
Weighted Average Pass-Through Rate 9.295371%
Weighted Average Maturity(Stepdown Calculation ) 347
Beginning Scheduled Collateral Loan Count 2,512
Number Of Loans Paid In Full (8)
Ending Scheduled Collateral Loan Count 2,520
Beginning Scheduled Collateral Balance 208,618,626.36
Ending Scheduled Collateral Balance 210,920,907.13
Ending Actual Collateral Balance at 31-Oct-1999 209,294,301.55
Monthly P &I Constant 1,848,330.76
Ending Scheduled Balance for Premium Loans 210,920,907.13
Scheduled Principal 124,439.50
Unscheduled Principal 1,608,458.78
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 4,792,500.00
Overcollateralized Amount 4,792,500.00
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 0.00
Excess Cash Amount 581,749.00
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Senior Enhancement % 17.38542684%
Balance of Prefund Account: $1,734,549.26
</TABLE>
|
|