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Previous: NATIONAL EQUITY TRUST FORBES FORTY INDEX TRUST SERIES 2, 497, 2000-01-04 |
Next: ENTERPRISES SOLUTIONS INC, 10SB12G/A, 2000-01-04 |
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: December 24, 1999
ADVANTA Mortgage Loan Trust 1999-4
New York 333-75295-03 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 November 1999 Monthly Period of the Trust in respect of
the Mortgage Loan Asset-Backed Notes, Series 1999-4
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 November 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 November 1999 Monthly
period relating to the Mortgage Loan Asset-
Backed Notes, Series 1999-4,
issued by the ADVANTA Mortgage Loan
Trust 1999-4.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the November 1999 Monthly
Period relating to the Mortgage Loan Asset-Backed
Notes, Series 1999-4, issued by the
ADVANTA Mortgage Loan Trust 1999-4.
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 Mortgage Loan Trust 1999-4
BY: ADVANTA Mortgage Corp., USA
BY: /s/ H. John Berens
H. John Berens
Senior Vice President
Advanta Mortgage
December 31, 1999
<TABLE>
EXHIBIT 1
<CAPTION>
ADVANTA Mortgage Loan Trust 1999-4
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>
Note 200,000,000 200,000,00 1,296,38 220,94 1,517,33
Cert
Totals 200,000,000 200,000,00 1,296,38 220,94 1,517,33
</TABLE>
<TABLE>
<CAPTION>
Current
Deferred Principal
Class Interest Balance
<S> <C> <C>
Note 199,779,057.05
Cert -
Totals 199,779,057.05
</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>
Note A-Act/360 00755WHC3 200,000,000. 1,000.0000
Cert -
</TABLE>
<TABLE>
<CAPTION>
Current
Total Principal
Class Interest Principal Distribution Balance
<S> <C> <C> <C> <C>
Note 6. 1 7.5 998.895285
Cert -
</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>
Note 200,000,000 1,296,3 2, 218,59 220,9 1,517,331
Cert
Totals 200,000,000 1,296,3 2, 218,59 220,9 1,517,331
</TABLE>
<TABLE>
<CAPTION>
Current
Realized Deferred Principal
Class Losses Interest Balance
<S> <C> <C> <C>
Note 199,779,057.05
Cert -
Totals 199,779,057.05
</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>
Note 5.83375% 200,000,00 1,296,38
Cert
Totals 200,000,00 1,296,38
</TABLE>
<TABLE>
<CAPTION>
Paid or Current
Optimal Deferred Unpaid
Class Interest Interest Interest
<S> <C> <C> <C>
Note 1,296,3 1,296,3 -
Cert -
Totals 1,296,3 1,296,3 -
</TABLE>
<TABLE>
Collection Account Report
<CAPTION>
Summary Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Principal Collections 131,80 131,80
Principal Withdrawals
Principal Other Accounts
TOTAL PRINCIPAL 131,80 131,80
Interest Collected 1,014,958 1,014,958
Interest Withdrawals
Interest Other Accounts 483,10 483,10
Fees (112,53 (112,53
TOTAL INTEREST 1,385,523 1,385,523
TOTAL AVAILABLE TO CERTIFICATEHOLDERS 1,517,331 1,517,331
</TABLE>
<TABLE>
Principal - Collections
<CAPTION>
Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Scheduled Principal 129,46 129,46
Curtailments 2,3 2,3
Prepayments in Full
Repurchased Principal Amounts
Substitution Principal Amount
Liquidations
Insurance Principal
Other Principal
Total Realized Loss of Principal
TOTAL PRINCIPAL COLLECTED 131,80 131,80
</TABLE>
<TABLE>
Collection Account Report
<CAPTION>
Principal - Withdrawals Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
<CAPTION>
Principal - Other Accounts Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Amounts Remaining in Pre-Funding Account
</TABLE>
<TABLE>
<CAPTION>
Interest - Collections Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Scheduled Interest 1,025,117 1,025,117
Repurchased Interest
Substitution Interest Amount
Liquidation Interest
Insurance Interest
Other Interest
Delinquent Interest (137,41 (137,41
Interest Advanced 127,25 127,25
Prepayment Interest Shortfalls
Compensating Interest
Civil Relief Act Shortfalls
TOTAL INTEREST COLLECTED 1,014,958 1,014,958
</TABLE>
<TABLE>
Collection Account Report
<CAPTION>
Interest - Withdrawals Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Current Nonrecoverable Advances
TOTAL INTEREST WITHDRAWALS
</TABLE>
<TABLE>
<CAPTION>
Interest - Other Accounts Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Capitalized Interest Requirement 329,56 329,56
Pre-Funding Account Earnings 153,53 153,53
Capitalized Interest Account
</TABLE>
<TABLE>
<CAPTION>
Interest - Fees Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Current Servicing Fees 72,6 72,6
Trustee Fee Amount 1,6 1,6
Owner Trustee Fee Amount
Insurance Premium Amount 37,777.78 37,7
TOTAL FEES 112,53 112,53
</TABLE>
<TABLE>
Credit Enhancement Report
<CAPTION>
Accounts Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
<CAPTION>
Insurance Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Total Insured Payments
</TABLE>
<TABLE>
<CAPTION>
Structural Features Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Specified Overcollateralization Amount 12,195,753.94 12,195,753.94
Current Overcollateralization Amount 5,059,788.74 5,059,788.74
Overcollateralization Deficiency Amount 7,225,099.50 7,225,099.50
Overcollateralization Deficit Amount
Overcollateralization Increase Amount 89,134.30 89,134.30
Overcollateralization Reduction Amount
Components of Change in Overcollateralization*
Excess Interest Generated/(needed) by Pool (393,966.58) (393,966.58)
Pre-Funding Account Interest Earning 153,539.34 153,539.34
Capitalized Interest Requirement 329,561.54 329,561.54
Additional Principal
TOTAL 89,1 89,134.30
*(NOTE: If at specified amount, components will not equal increase amount)
</TABLE>
<TABLE>
Collateral Report
<CAPTION>
Collateral Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Loan Count:
Original 1,377 1,377
Prior
Prefunding
Scheduled Paid Offs
Full Voluntary Prepayments
Repurchases
Liquidations
Current 1,377 1,377
Principal Balance
Original 132,550,785.07 132,550,785.07
Prior
Prefunding
Scheduled Principal (129,460.49) (129,460.49)
Partial and Full Voluntary Prepayments (2,3 (2,3
Repurchases
Liquidations
Current 132,418,976. 132,418,976.
</TABLE>
<TABLE>
<CAPTION>
Prefunding Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
PRE-FUNDING ACCOUNT
Original Pre-Funded Amount 72,419,869.37 72,419,869.37
Balance of Subsequent Mortgage Loans Added This Period
Pre-Funding Account Earnings 153,53 153,53
Withdrawal Account Earnings
Pre-Funding Account Ending Balance 72,419,869. 72,419,869.
CAPITALIZED INTEREST ACCOUNT
Original Capitalized Interest Deposit 845,803.72 845,803.72
Capitalized Interest Requirement 329,56 329,56
Withdrawal remaining amounts
Capitalized Interest Account Ending Balance 516,24 516,24
</TABLE>
<TABLE>
Collateral Report
<CAPTION>
Characteristics Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Weighted Average Coupon Original 9.280529% 9.280529%
Weighted Average Coupon Prior 0.000000% 0.000000%
Weighted Average Coupon Current 9.280529% 9.280529%
Weighted Average Months to Maturity Original 345 345
Weighted Average Months to Maturity Prior -
Weighted Average Months to Maturity Current 345 345
Weighted Average Remaining Amortization Term Original 346 346
Weighted Average Remaining Amortization Term Prior -
Weighted Average Remaining Amortization Term Current 346 346
Weighted Average Seasoning Original 3.35 3.35
Weighted Average Seasoning Prior -
Weighted Average Seasoning Current 3.35 3.35
Note: Original information refers to deal issue
</TABLE>
<TABLE>
Collateral Report
<CAPTION>
Arm Characteristics Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Weighted Average Margin Original 5.240% 5.240%
Weighted Average Margin Prior 0.000% 0.000%
Weighted Average Margin Current 5.240% 5.240%
Weighted Average Max Rate Original 16.241% 16.241%
Weighted Average Max Rate Prior 0.000% 0.000%
Weighted Average Max Rate Current 16.241% 16.241%
Weighted Average Min Rate Original 8.706% 8.706%
Weighted Average Min Rate Prior 0.000% 0.000%
Weighted Average Min Rate Current 8.706% 8.706%
Weighted Average Cap Up Original 1.032% 1.032%
Weighted Average Cap Up Prior 0.000% 0.000%
Weighted Average Cap Up Current 1.032% 1.032%
Weighted Average Cap Down Original 1.032% 1.032%
Weighted Average Cap Down Prior 0.000% 0.000%
Weighted Average Cap Down Current 1.032% 1.032%
Note: Original information refers to deal issue
</TABLE>
<TABLE>
<CAPTION>
Servicing Fees / Advances Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Current Servicing Fees 72,684.81 72,6
Delinquent Servicing Fees 10,159.43 10,1
TOTAL SERVICING FEES 82,844.24 82,8
Total Servicing Fees 82,844.24 82,8
Compensating Interest -
Delinquent Servicing Fees (10,159.43) (10,1
COLLECTED SERVING FEES 72,684.81 72,6
Prepayment Interest Shortfall -
Total Advanced Interest 127,252.36 127,25
Current Nonrecoverable Advances - 0.00
Unreimbursed Delq / Servicing Advances Paid to Servicer
</TABLE>
<TABLE>
<CAPTION>
Additional Collateral Information Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Weighted Average Coupon Next 9.280616% 9.280616%
</TABLE>
<TABLE>
Delinquency Report - Total
<CAPTION>
Current 1 Payment 2 Payments 3+ Payments Total
<S> <C> <C> <C> <C> <C> <C>
DELINQUENT Balance 1,502,35 63,6 1,566,046
% Balance 1.13% 0.05% 0.00% 1.18%
# Loans
% # Loans 1.09% 0.07% 0.00% 1.16%
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
% Balance 0.00% 0.00% 0.00% 0.00% 0.00%
# Loans
% # 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 1,502,35 63,6 1,566,046
% Balance 0.00% 1.13% 0.05% 0.00% 1.18%
# Loans
% # Loans 0.00% 1.09% 0.07% 0.00% 1.16%
Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+
</TABLE>
<TABLE>
Prepayment Report - Voluntary Prepayments
<CAPTION>
Voluntary Prepayments Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Current
Number of Paid in Full Loans 0
Number of Repurchased Loans
Total Number of Loans Prepaid in Full 0
Paid in Full Balance
Repurchase Loans Balance
Curtailments Amount 2,3 2,3
Total Prepayment Amount 2,3 2,3
Cumulative
Number of Paid in Full Loans 0 0 0
Number of Repurchased Loans 0 0 0
Total Number of Loans Prepaid in Full 0 0 0
Paid in Full Balance
Repurchased Loans Balance
Curtailments Amount 2,3 2,3
Total Prepayment Amount 2,3 2,3
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
Prepayment Report - Voluntary Prepayments
<CAPTION>
Voluntary Prepayment Rates Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
SMM 0.00% 0.00%
3 Months Average SMM 0.00% 0.00%
12 Months Average SMM 0.00% 0.00%
Average SMM Since Cut-Off 0.00% 0.00%
CPR 0.02% 0.02%
3 Months Average CPR 0.00% 0.00%
12 Months Average CPR 0.00% 0.00%
Average CPR Since Cut-Off 0.02% 0.02%
PSA 3.18% 3.18%
3 Months Average PSA Approximation 0.00% 0.00%
12 Months Average PSA Approximation 0.00% 0.00%
Average PSA Since Cut-Off Approximation 3.18% 3.18%
</TABLE>
<TABLE>
Realized Loss Report - Collateral
<CAPTION>
Collateral Realized Losses Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Current
Number of Loan Liquidated
Collateral Realized Loss / (Gain) Amount
Net Liquidation Proceeds
Cumulative
Number of Loans Liquidated
Collateral Realized Loss / (Gain) Amount
Net Liquidation Proceeds
Note: Collateral realized losses may include adjustments to loans liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
<TABLE>
Realized Loss Report - Collateral
<CAPTION>
Default Speeds Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
MDR 0.00% 0.00%
3 Months Average MDR 0.00% 0.00%
12 Months Average MDR 0.00% 0.00%
Average MDR Since Cut-Off 0.00% 0.00%
CDR 0.00% 0.00%
3 Months Average CDR 0.00% 0.00%
12 Months Average CDR 0.00% 0.00%
Average CDR Since Cut-Off 0.00% 0.00%
SDA 0.00% 0.00%
3 Months Average SDA Approximation 0.00% 0.00%
12 Months Average SDA Approximation 0.00% 0.00%
Average SDA Since Cut-Off Approximation 0.00% 0.00%
Loss Severity Approximation for Current Period 0.00% 0.00%
3 Months Average Loss Severity Approximation 0.00% 0.00%
12 Months Average Loss Severity Approximation 0.00% 0.00%
Average Loss Severity Approximation Since Cut-Off 0.00% 0.00%
</TABLE>
<TABLE>
Triggers, Adj. Rate Cert. And Miscellaneous Report
<CAPTION>
Trigger Events Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Has Servicer Termination Loss Trigger Occurred? No
</TABLE>
<TABLE>
<CAPTION>
Adjustable Rate Certificate Information Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
Next Pass-Through Rates for Adjustable Rate Certificates 6.856250%
</TABLE>
<TABLE>
<CAPTION>
Additional Information Adjustable Fixed Total
<S> <C> <C> <C> <C> <C> <C>
SPACE INTENTIONALLY LEFT BLANK
</TABLE>
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