|
|
|
|
|
|
|
|
|
|
|
|
|
<PAGE>
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
January 15, 2000
Date of Report (Date of Earliest Event Reported)
Headlands Mortgage Securities Inc. (as Sponsor of the Headlands Home Equity
Loan Trust 1999-1 Home Equity Loan Asset-Backed Notes, Series 1999-1,
Class A-1 Notes and Class A-2 Notes)
HEADLANDS MORTGAGE SECURITIES INC.
----------------------------------
(Exact Name of Registrant as Specified in Its Charter)
Delaware 333-79833 68-0397342
-------- --------- ----------
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
700 Larkspur Landing Circle, Suite 240, Larkspur, CA 94939
----------------------------------------------------------
(Address of Principal Executive Offices)
(415) 461-6790
--------------
(Registrant's Telephone Number,
Including Area Code)
Not Applicable
--------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events
------------
Headlands Mortgage Securities Inc. (the "Company") has previously
registered the offer and sale of the Headlands Home Equity Loan
Trust 1999-1 Home Equity Loan Asset-Backed Notes Series, 1999-1,
Class A-1 Notes and Class A-2 Notes (the "Series 1999-1 Notes").
The following exhibit which relates specifically to the Series
1998-1 Notes is included with this Current Report:
Item 7(c). Exhibits
--------
10.1 Monthly Payment Date Statement distributed to holders
of Series 1999-1 Notes dated January 15, 2000.
<PAGE>
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.
Date: January 19, 2000
GREEPOINT MORTGAGE SECURITIES
INC. (SUCCESSOR TO HEADLANDS
MORTGAGE SECURITIES INC.)
By: /s/ Gilbert J. MacQuarrie
----------------------------------------
Gilbert J. MacQuarrie
Vice President, Treasurer and Secretary
(Principal Financial Officer and
and Principal Accounting Officer)
<PAGE>
EXHIBIT INDEX
Exhibit Number Page Number
- -------------- -----------
10.1 Monthly Payment Date Statement distributed to holders
of Series 1999-1 Notes dated January 15, 2000.................... 5
<PAGE>
Exhibit 10.1
Headlands SERVICING CERTIFICATE
Mortgage
<TABLE>
==================================================================================================================================
<S> <C> <C> <C> <C>
Revolving Home Equity Loan LIBOR: 6.46250% Current Collection Period: 12/01/99-12/31/99
Asset-Backed Notes Margin A-1: 0.35500% P&S Agreement Date: 9/1/99
Series 1999-1 Class A-1 Note Rate: 6.81750% Original Closing Date: 9/29/99
Class A-2 Note Rate: 6.86250% Distribution Date: 1/18/00
Margin A-2: 0.40000% Record Date: 1/17/00
Interest Period 12/15/99 thru 34 Pool Factor: 94.5367879%
1/17/00:
Servicing Fee Rate: 0.50000% Initial Class A-1 O/C Amt: 1,600,227.33
Class A-1 Premium Fee Rate: 0.18000% Initial Class A-2 O/C Amt: 431,934.61
Class A-2 Premium Fee Rate: 0.18000%
Class A-1 O/C Amt as of Pmt Date: 3,482,682.90
Trustee Fee: 0.00750% Class A-2 O/C Amt as of Pmt Date: 839,645.28
Class A-1 Weighted Avg Loan Rate: 10.93622%
Class A-2 Weighted Avg Loan Rate: 10.79048%
Total Management Fee 1,000.00
==========================================================================================================================
<CAPTION>
<S> <C>
BALANCES
Beginning Class A-1 Pool Balance 212,344,068.29
Beginning Class A-2 Pool Balance 51,221,546.75
Beginning Class A-1 Note Balance - CUSIP 422093AK0 209,489,863.15
Beginning Class A-2 Note Balance - CUSIP 422093AL8 50,523,303.34
Class A-1 Overcollateralization Amount to Fill 3,982,580.06
Class A-2 Overcollateralization Amount to Fill 1,171,942.43
Ending Class A-1 Pool Balance 209,589,014.03
Ending Class A-2 Pool Balance 48,786,751.12
Ending Class A-1 Note Balance - CUSIP 422093AK0 206,106,331.13
Ending Class A-2 Note Balance - CUSIP 422093AL8 47,947,105.84
Additional Balances Class A-1 4,926,002.20
Additional Balances Class A-2 379,762.52
Number of all Retransferred Mortgage Loans (Current Retransfer Date) 0
Retransferred Mortgage Loan Trust Balances (Current Retransfer Date) 0.00
Cumulative Number of all Retransferred Mortgage Loans (From Previous Distributions) 0
Cumulative Retransferred Mortgage Loan Trust Balances (From Previous Distributions) 0.00
Number of all Subsequent HELOC Mortgage Loans (Current Date) 0
Subsequent HELOC Mortgage Loan Asset Balance (Current Date) 0.00
Number of all Subsequent Second Lien Mortgage Loans (Current Date) 0
Subsequent Second Lien Mortgage Loan Asset Balance (Current Date) 0.00
Number of all Subsequent HLTV Mortgage Loans (Current Date) 0
Subsequent HLTV Mortgage Loan Asset Balance (Current Date) 0.00
Cumulative Number of ALL Subsequent Mortgage Loans 0
Cumulative Subsequent Mortgage Loan Asset Balance 0.00
Class A-1 Cumulative Excess of Draws Over Principal Paydown 0.00
Beginning Loan Count 6,116
Ending Loan Count 5,995
</TABLE>
<PAGE>
<TABLE>
<S> <C>
COLLECTION AMOUNTS Class A-1
1 Aggregate of All Mortgage Collections (Gross) 9,780,384.30
2 Total Mortgage Interest Collections (Gross) 2,099,327.84
Servicing Fees (current collection period) 88,476.70
Deferred Interest Transfer (DI) 0.00
3a Mortgage Principal Collections 7,681,056.46
3b Pre-Funded Balance 0.00
3c Net Liquidation Proceeds 0.00
3 Total Mortgage Principal Collections 7,681,056.46
Aggregate of Transfer Deposits 0.00
Investor Loss Amount 0.00
Aggregate Investor Loss Reduction Amount 0.00
COLLECTION AMOUNTS Class A-2
1 Aggregate of All Mortgage Collections (Gross) 3,312,863.02
2 Total Mortgage Interest Collections (Gross) 498,304.87
Servicing Fees (current collection period) 21,342.31
Deferred Interest Transfer (DI) 0.00
3a Mortgage Principal Collections 2,814,558.15
3b Pre-Funded Balance 0.00
3c Net Liquidation Proceeds 0.00
3 Total Mortgage Principal Collections 2,814,558.15
Aggregate of Transfer Deposits 0.00
Investor Loss Amount 0.00
Aggregate Investor Loss Reduction Amount 0.00
TOTAL COLLECTION
AMOUNT
1 Aggregate of All Mortgage Collections (Gross) 13,093,247.32
2 Total Mortgage Interest Collections (Gross) 2,597,632.71
Servicing Fees (current collection period) 109,819.01
Deferred Interest Transfer (DI) 0.00
3a Mortgage Principal Collections 10,495,614.61
3b Insurance Proceeds 0.00
3c Net Liquidation Proceeds 0.00
3 Total Mortgage Principal Collections 10,495,614.61
Aggregate of Transfer Deposits 0.00
Investor Loss Amount 0.00
Aggregate Investor Loss Reduction Amount 0.00
Class A-1 Net Interest Collection 2,010,851.14
Class A-2 Net Interest Collection 476,962.56
DISTRIBUTION AMOUNTS Class A-1
Class A-1 Note Interest 8.6 (d)(iv) 1,348,852.86
Class A-1 Note Unpaid Interest Shortfall (current cycle) 0.00
Class A-1 Note Reserve Fund Amount 0.00
Investor Loss Amount 0.00
Previous Investor Loss Amount 0.00
Monthly Credit Enhancer Premium 8.6 (d)(ii) 31,423.48
Credit Enhancer Reimbursement 0.00
Accelerated Principal Distribution Amount 628,477.76
Spread Account Deposit 0.00
Indenture Trustee Fee 8.6 (d)(i) 1,309.31
Management Fee 8.6 (d)(iii) 787.74
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Payment to Servicer 0.00
Deferred Interest 0.00
Remaining Amount to Transferor 0.00
Total Certificateholders Distribution Allocable to Interest 2,010,851.15
Maximum Principal Payment 2,755,054.26
Scheduled Principal Collection Payment ((x)the excess of Max Prin Pymt (y) the 0.00
HELOC Pool O/CRedctin Amt) 8.6(d)(v)
Accelerated Principal Distribution Amount 628,477.76
Loan Loss 0.00
Class A-1 Overcollateralization Deficit 8.6 (d)(vi) 0.00
Total Certificateholders Distribution Allocable to Principal 3,383,532.02
DISTRIBUTION AMOUNTS Class A-2
Class A-2 Note Interest 8.6 (d)(iv) 327,454.16
Class A-2 Note Unpaid Interest Shortfall (current cycle) 0.00
Class A-2 Note Reserve Fund Amount 0.00
Investor Loss Amount 0.00
Previous Investor Loss Amount 0.00
Monthly Credit Enhancer Premium 8.6 (d)(ii) 7,578.50
Credit Enhancer Reimbursement 0.00
Accelerated Principal Distribution Amount 141,401.87
Spread Account Deposit 0.00
Indenture Trustee Fee 8.6 (d)(i) 315.77
Management Fee 8.6 (d)(iii) 212.26
Payment to Servicer 0.00
Deferred Interest 0.00
Remaining Amount to Transferor 0.00
Total Certificateholders Distribution Allocable to Interest 476,962.56
Maximum Principal Payment 2,434,795.63
Scheduled Principal Collection Payment ((x)the excess of Max Prin Pymt (y) the
Second Pool O/C Redctin Amt) 8.6(d)(v) 0.00
Accelerated Principal Distribution Amount 141,401.87
Loan Loss 0.00
Class A-2 Overcollateralization Deficit 8.6 (d)(vi) 0.00
Total Certificateholders Distribution Allocable to Principal 2,576,197.50
TOTAL DISTRIBUTION AMOUNT
Class A Note Interest 8.6 (d)(iv) 1,676,307.02
Class A Note Unpaid Interest Shortfall (current cycle) 5.01(i) 0.00
Class A Note Reserve Fund Amount 0.00
Investor Loss Amount 5.01(iii) 0.00
Previous Investor Loss Amount 5.01(iv) 0.00
Monthly Credit Enhancer Premium 8.6 (d)(ii) 39,001.97
Credit Enhancer Reimbursement 5.01(vi) 0.00
Accelerated Principal Distribution Amount 5.01(vii) 769,879.63
Spread Account Deposit 5.01(viii) 0.00
Indenture Trustee Fee 8.6 (d)(i) 1,625.08
Management Fee 8.6 (d)(iii) 1,000.00
Payment to Servicer per Section 7.03 5.01 (x) 0.00
Deferred Interest 5.01 (xi) 0.00
Remaining Amount to Transferor 5.01 (xii) 0.00
Total Certificateholders Distribution Allocable to Interest 2,487,813.70
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Maximum Principal Payment 5,189,849.89
Scheduled Principal Collection Payment 0.00
Accelerated Principal Distribution Amount 769,879.63
Loan Loss 0.00
Overcollateralization Deficit 8.6 (d)(vi) 0.00
Total Certificateholders Distribution Allocable to Principal 5,959,729.52
LOSSES/RETRANSFERS
Unpaid Class A-1 Note Interest Shortfall Due (From Previous Distributions) 0.00
Unpaid Class A-2 Note Interest Shortfall Due (From Previous Distributions) 0.00
Interest Earned on Shortfall @ applicable Certificate Rate 0.00
Investor Loss Reduction Amount (From Previous Distributions) 0.00
DISTRIBUTION TO CERTIFICATEHOLDERS (PER CERTIFICATE WITH A $1,000 DENOMINATION)
Class A-1
Total Class A-1 Note Distribution Amount Allocable to Interest 6.3717405
Interest Distribution Amount 6.3717405
Unpaid Note Interest Shortfall Included in Current Distribution 0.0000000
Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000
Total Class A-1 Note Distribution Amount Allocable to Principal 15.9832022
Maximum Principal Payment 13.0143853
Scheduled Principal Collections Payment 0.0000000
Loan Loss 0.0000000
Accelerated Principal Distribution Amount 2.9688169
Class A-2
Total Class A-2 Note Distribution Amount Allocable to Interest 5.7405799
Interest Distribution Amount 5.7405799
Unpaid Note Interest Shortfall Included in Current Distribution 0.0000000
Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000
Total Class A-2 Note Distribution Amount Allocable to Principal 45.1631692
Maximum Principal Payment 42.6842612
Scheduled Principal Collections Payment 0.0000000
Loan Loss 0.0000000
Accelerated Principal Distribution Amount 2.4789080
Total Interest Amount Distributed to Class A Certificateholder 12.1123204
Total Principal Amount Distributed to Class A Certificateholder 61.1463714
Credit Enhancement Draw Amount 0.00
DELINQUENCIES/FORECLOSURES
Class A-1
Number of Mortgages 30 to 59 Days Delinquent 57
Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 2,356,727.16
Number of Mortgages 60 to 89 Days Delinquent 11
Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 438,002.95
Number of Mortgages 90 to 179 Days Delinquent 2
Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent 105,563.65
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Number of Mortgages 180 or more Days Delinquent 0
Aggregate Principal Balances of Mortgages 180 or more Days Delinquent 0.00
Number of Mortgage Loans in Foreclosure 2
Aggregate Principal Balances of Mortgage Loans in Foreclosure 93,821.59
Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 0.00
Aggregate Trust Balances of any Liquidated Loans in the Current 0.00
Month
Class A-2
Number of Mortgages 30 to 59 Days Delinquent 2
Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 271,254.40
Number of Mortgages 60 to 89 Days Delinquent 3
Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 425,985.20
Number of Mortgages 90 to 179 Days Delinquent 1
Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent 399,190.00
Number of Mortgages 180 or more Days Delinquent 0
Aggregate Principal Balances of Mortgages 180 or more Days Delinquent 0.00
Number of Mortgage Loans in Foreclosure 0
Aggregate Principal Balances of Mortgage Loans in Foreclosure 0.00
Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 242,594.50
Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00
TOTAL DELINQUENCIES/FORECLOSURES
Number of Mortgages 30 to 59 Days Delinquent 59
Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 2,627,981.56
Number of Mortgages 60 to 89 Days Delinquent 14
Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 863,988.15
Number of Mortgages 90 to 179 Days Delinquent 3
Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent 504,753.65
Number of Mortgages 180 or more Days Delinquent 0
Aggregate Principal Balances of Mortgages 180 or more Days Delinquent 0.00
Number of Mortgage Loans in Foreclosure 2
Aggregate Principal Balances of Mortgage Loans in Foreclosure 93,821.59
Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 242,594.50
Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00
=============================================================================================================================
RESERVE FUND ACTIVITY
Class A-1 Reserve Fund Beginning Balance 0.00
Class A-1 Reserve Fund Deposit/Withdrawal 0.00
Class A-1 Reserve Fund Ending Balance 0.00
Class A-2 Reserve Fund Beginning Balance 0.00
Class A-2 Reserve Fund Deposit/Withdrawal 0.00
Class A-2 Reserve Fund Ending Balance 0.00
OFFICER'S CERTIFICATE
All Computations reflected in this Servicer Certificate were made in
conformity with the Pooling and Servicing Agreement.
The Attached Servicing Certificate is true and correct in all material respects.
-------------------------------------------------------
A Servicing Officer Teri Martine CS 99-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------
HEADLANDS MORTGAGE STATEMENT TO NOTEHOLDERS
==================================================================================================================
<S> <C> <C> <C> <C>
Revolving Home Equity Loan LIBOR: 6.46250% Current Collection Period: 12/01/99-12/31/99
Asset-Backed Notes Margin: 0.35500% P&S Agreement Date: 9/1/99
Series 1999-1 Class A-1 Note Rate: 6.81750% Original Closing Date: 9/29/99
Class A-2 Note Rate: 6.86250% Distribution Date: 1/18/00
Record Date: 1/17/00
Interest Period 12/15/99 34 Pool Factor: 94.5367879%
thru 1/17/00:
==================================================================================================================
</TABLE>
<TABLE>
<S> <C>
BALANCES
Beginning HELOC Pool Balance 212,344,068.29
Beginning Second Lien Pool Balance 51,221,546.75
Beginning Class A-1 Note Balance -- CUSIP 422093AK0 209,489,863.15
Beginning Class A-2 Note Balance -- CUSIP 422093AL8 50,523,303.34
Ending Class A-1 Pool Balance 209,589,014.03
Ending Class A-2 Pool Balance 48,786,751.12
Ending Class A-1 Note Balance -- CUSIP 422093AK0 206,106,331.13
Ending Class A-2 Note Balance -- CUSIP 422093AL8 47,947,105.84
Additional Balances Class A-1 4,926,002.20
Additional Balances Class A-2 379,762.52
Number of all Retransferred Mortgage Loans (Current Retransfer Date) 0
Retransferred Mortgage Loan Trust Balances (Current Retransfer Date) 0.00
Cumulative Number of all Retransferred Mortgage Loans (From Previous Distributions) 0
Cumulative Retransferred Mortgage Loan Trust Balances (From Previous Distributions) 0.00
Number of all Subsequent HELOC Mortgage Loans (Current Date) 0
Subsequent HELOC Mortgage Loan Asset Balance (Current Date) 0.00
Number of all Subsequent Second Lien Mortgage Loans (Current Date) 0
Subsequent Second Lien Mortgage Loan Asset Balance (Current Date) 0.00
Number of all Subsequent HLTV Mortgage Loans (Current Date) 0
Subsequent HLTV Mortgage Loan Asset Balance (Current Date) 0.00
Cumulative Number of ALL Subsequent Mortgage Loans 0
Cumulative Subsequent Mortgage Loan Asset Balance 0.00
Class A-1 Cumulative Excess of Draws Over Principal Paydown 0.00
Beginning Loan Count 6,116
Ending Loan Count 5,995
COLLECTION AMOUNTS Class A-1
Aggregate of All Mortgage Collections 9,691,907.60
Total Mortgage Interest Collections 2,099,327.84
Servicing Fees (current collection period) (88,476.70)
Mortgage Principal Collections 7,681,056.46
Pre-Funded Balance 0.00
0.00
Total Mortgage Principal Collections 7,681,056.46
</TABLE>
<PAGE>
<TABLE>
<S> <C>
COLLECTION AMOUNTS Class A-2
Aggregate of All Mortgage Collections 3,291,520.71
Total Mortgage Interest Collections 498,304.87
Servicing Fees (current collection period) (21,342.31)
Mortgage Principal Collections 2,814,558.15
Pre-Funded Balance 0.00
0.00
Total Mortgage Principal Collections 2,814,558.15
TOTAL COLLECTION AMOUNT
Aggregate of All Mortgage Collections 13,093,247.32
Total Mortgage Interest Collections 2,597,632.71
Mortgage Principal Collections 10,495,614.61
Pre-Funded Balance 0.00
Total Mortgage Principal Collections 10,495,614.61
DISTRIBUTION AMOUNTS Class A-1
Class A-1 Note Interest 1,348,852.86
Class A-1 Note Unpaid Interest Shortfall (current cycle) 0.00
Class A-1 Note Reserve Fund Amount 0.00
Maximum Principal Payment 2,755,054.26
Scheduled Principal Collection 0.00
Accelerated Principal Distribution Amount 628,477.76
Loan Loss 0.00
Class A-1 Overcollateralization Deficit 0.00
Total Certificateholders Distribution Allocable to Principal 3,383,532.02
DISTRIBUTION AMOUNTS Class A-2
Class A-2 Note Interest 327,454.16
Class A-2 Note Unpaid Interest Shortfall (current cycle) 0.00
Class A-2 Note Reserve Fund Amount 0.00
Maximum Principal Payment 2,434,795.63
Scheduled Principal Collection 0.00
Accelerated Principal Distribution Amount 141,401.87
Loan Loss 0.00
Class A-2 Overcollateralization Deficit 0.00
Total Certificateholders Distribution Allocable to Principal 2,576,197.50
TOTAL DISTRIBUTION AMOUNT
Class A Note Interest 1,676,307.02
Class A Note Unpaid Interest Shortfall (current cycle) 0.00
Class A Note Reserve Fund Amount 0.00
Maximum Principal Payment 5,189,849.89
Scheduled Principal Collection Payment 0.00
Accelerated Principal Distribution Amount 769,879.63
Overcollateralization Deficit 0.00
Total Certificateholders Distribution Allocable to Principal 5,959,729.52
</TABLE>
<PAGE>
<TABLE>
<S> <C>
LOSSES/RETRANSFERS
Unpaid Class A-1 Note Interest Shortfall Due (From Previous Distributions) 0.00
Unpaid Class A-2 Note Interest Shortfall Due (From Previous Distributions) 0.00
Interest Earned on Shortfall @ applicable Certificate Rate 0.00
Investor Loss Reduction Amount (From Previous Distributions) 0.00
DISTRIBUTION TO CERTIFICATEHOLDERS (PER CERTIFICATE WITH A $1,000 DENOMINATION)
Class A-1
Total Class A-1 Note Distribution Amount Allocable to Interest 6.3717405
Interest Distribution Amount 6.3717405
Unpaid Note Interest Shortfall Included in Current Distribution 0.0000000
Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000
Total Class A-1 Note Distribution Amount Allocable to Principal 15.9832022
Maximum Principal Payment 13.0143853
Scheduled Principal Collections Payment 0.0000000
Loan Loss 0.0000000
Accelerated Principal Distribution Amount 2.9688169
Class A-2
Total Class A-2 Note Distribution Amount Allocable to Interest 5.7405799
Interest Distribution Amount 5.7405799
Unpaid Note Interest Shortfall Included in Current Distribution 0.0000000
Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000
Total Class A-2 Note Distribution Amount Allocable to Principal 45.1631692
Maximum Principal Payment 42.6842612
Scheduled Principal Collections Payment 0.0000000
Loan Loss 0.0000000
Accelerated Principal Distribution Amount 2.4789080
Total Interest Amount Distributed to Class A Certificateholder 12.1123204
Total Principal Amount Distributed to Class A Certificateholder 61.1463714
Credit Enhancement Draw Amount 0.00
DELINQUENCIES/FORECLOSURES
Class A-1
Number of Mortgages 31 to 60 Days Delinquent 57
Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 2,356,727.16
Number of Mortgages 61 to 90 Days Delinquent 11
Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 438,002.95
Number of Mortgages 91 to 180 or more Days Delinquent 2
Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 105,563.65
Number of Mortgages 181 or more Days Delinquent 0
Aggregate Principal Balances of Mortgages 181 or more Days Delinquent 0.00
Number of Mortgage Loans in Foreclosure 2
Aggregate Principal Balances of Mortgage Loans in 93,821.59
Foreclosure
Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 0.00
Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Class A-2
Number of Mortgages 31 to 60 Days Delinquent 2
Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 271,254.40
Number of Mortgages 61 to 90 Days Delinquent 3
Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 425,985.20
Number of Mortgages 91 to 180 or more Days Delinquent 1
Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 399,190.00
Number of Mortgages 181 or more Days Delinquent 0
Aggregate Principal Balances of Mortgages 181 or more Days Delinquent 0.00
Number of Mortgage Loans in Foreclosure 0
Aggregate Principal Balances of Mortgage Loans in 0.00
Foreclosure
Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 242,594.50
Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00
TOTAL DELINQUENCIES/FORECLOSURES
Number of Mortgages 31 to 60 Days Delinquent 59
Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 2,627,981.56
Number of Mortgages 61 to 90 Days Delinquent 14
Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 863,988.15
Number of Mortgages 91 to 180 or more Days Delinquent 3
Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 504,753.65
Number of Mortgages 181 or more Days Delinquent 0
Aggregate Principal Balances of Mortgages 181 or more Days Delinquent 0.00
Number of Mortgage Loans in Foreclosure 2
Aggregate Principal Balances of Mortgage Loans in 93,821.59
Foreclosure
Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 242,594.50
Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00
=================================================================================================================
Class A-1 Note Rate For Next Distribution LIBOR tbd #VALUE!
RESERVE FUND ACTIVITY
Class A-1 Reserve Fund Beginning Balance 0.00
Class A-1 Reserve Fund Deposit/Withdrawal 0.00
Class A-1 Reserve Fund Ending Balance 0.00
Class A-2 Reserve Fund Beginning Balance 0.00
Class A-2 Reserve Fund Deposit/Withdrawal 0.00
Class A-2 Reserve Fund Ending Balance 0.00
</TABLE>
|
|