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
BEAR STEARNS ASSET-BACKED SECURITIES, INC.,
as Depositor, EMC Mortgage Corporation, as Seller and Master
Servicer, and Bankers Trust Company of California, N.A., as trustee
(the "Trustee") under the Pooling and Servicing Agreement, dated as
of September 1, 1999, providing for the issuance of the Bear Stearns
Asset-Backed Certificates, Series 1999-2.
BEAR STEARNS ASSET-BACKED CERTIFICATES, SERIES 1999-2
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-43091 13-383643
(Commission File Number) (I.R.S. Employer Identification No.)
245 PARK AVENUE
NEW YORK, NEW YORK 10167
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212) 272-2000
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements to the
Certificateholders which was derived from the monthly information
submitted by the Master Servicer of the Trust to the Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
December 27, 1999.
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, hereunto duly authorized.
Bankers Trust Company of California, N.A.,
not in its individual capacity, but solely
as a duly authorized agent of the Registrant
pursuant to the Pooling and Servicing
Agreement, dated as of September 1, 1999.
Date: January 18, 2000 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
Monthly Remittance Statement to the Certificateholders
dated as of December 27, 1999.
Bear Stearns 1999-A2
Asset Backed Certificates
December 27, 1999 Distribution
Contents
TABLE OF CONTENTS
> Page
1. Cont
>ents 1
2. Cert
>ificate Payment Report 2
3. Coll
>ection Account Report 8
4. Cred
>it Enhancement Report 11
5. Coll
>ateral Report 12
6. Deli
>nquency Report 15
7. REO
>Report 18
8. Prep
>ayment Report 19
9. Prep
>ayment Detail Report 22
10. Real
>ized Loss Report 23
11. Real
>ized Loss Detail Report 26
12. Trig
>gers, Adj. Rate Cert. and Miscellaneous Report 27
13. Addi
>tional Certificate Report 28
Tota
>l Number of Pages
> 28
CONTACTS
Adm
>inistrator: Tiffany L. Campbell
Dir
>ect Phone Number: (714)247-6414
Add
>ress: Deutsche Bank
> 1761 E. St. Andrew Place, Santa Ana, CA 92705
Web
> Site: http://www-apps.gis.deutsche-bank.com/invr
Fac
>tor Information: (800) 735-7777
Mai
>n Phone Number: (714) 247-6000
ISSUANCE INFORMATION
Seller: EMC Mortgage Corp.
> Cut-Off Date:
> October 19, 1999
Certificate Insurer:
> Closing Date:
> October 19, 1999
Servicer(s): EMC Mortgage Corp.
> Master Servicer First Payment Date:
> October 25, 1999
Underwriter(s): Bear, Stearns & Co.
> Inc Underwriter Distribution Date:
> December 27, 1999
> Record Date:
> December 23, 1999
>
> November 30, 1999
> Page 1 of 28
> (c) COPYRIGHT 1999 Deutsche Bank
HISTORICAL DATA
> - STATEMENT 1 GROUP TOTAL
3
issue_idperiod
> t_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
BS99A2 199912
> 02060575813354167 3706320279311.5 0 237 151 53
> 4 0 0 0 0 0 0 0 0 0
> 0
BS99A2 199911
> 02569442913194170 3705440929916.3 0 298 158 51
>12 0 0 0 0 0 0 0 0 0
> 0
BS99A2 199910
> 0 661672211770742 3024078 0 0 75 164 30
> 0 0 0 0 0 0 0 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 1
3
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
BS99A2 199912
> 110479268 8035069 3137298181924.4 0 144 103 48
> 3 0 0 0 0 0 0 0 0 0
> 0
BS99A2 199911
> 115346788 8516605 3009526776537.2 0 199 115 43
>11 0 0 0 0 0 0 0 0 0
> 0
BS99A2 199910
> 1 216909510130912 2773162 0 0 33 138 28
> 0 0 0 0 0 0 0 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 2
3
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
BS99A2 199912
> 210126491 5319098569021.997387.11 0 93 48 5
> 1 0 0 0 0 0 0 0 0 0
> 0
BS99A2 199911
> 210347641 4677565695914.8153379.1 0 99 43 8
> 1 0 0 0 0 0 0 0 0 0
> 0
BS99A2 199910
> 2 4447627 1639829250916.4 0 0 42 26 2
> 0 0 0 0 0 0 0 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 3
0
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
HISTORICAL DATA
> - STATEMENT 1 GROUP 4
0
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
>
> 0 0
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
0 0 0 0 0427050.2 0 0 0
>0 3 0 0 0 0 0 0 0 0
> 0 017339798 208 0 0427050.2 3 0 02.09E
>+08
0 0 0 0 0225525.9 0 0 0
>0 3 0 0 0 0 0 0 0 0
> 0 017829527 221 0 0225525.9 3 0 02.13E
>+08
0 0 0 0 0 0 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 014794820 194 0 0 0 0 0 02.15E
>+08
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
0 0 0 0 0310962.1 0 0 0
>0 2 0 0 0 0 0 0 0 0
> 0 011354291 154 0 0310962.1 2 0 01.32E
>+08
0 0 0 0 0225525.9 0 0 0
>0 3 0 0 0 0 0 0 0 0
> 0 012302668 169 0 0225525.9 3 0 01.33E
>+08
0 0 0 0 0 0 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 012904074 166 0 0 0 0 0 01.35E
>+08
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
0 0 0 0 0116088.1 0 0 0
>0 1 0 0 0 0 0 0 0 0
> 0 0 5985507 54 0 0116088.1 1 0 077322
>504
0 0 0 0 0 0 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 0 5526859 52 0 0 0 0 0 079150
>383
0 0 0 0 0 0 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 0 1890746 28 0 0 0 0 0 080332
>948
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
32
>0 0 273.767
> 0 0 0.08293866
458890.8 8908139 124634 0 0 93
>0 0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
2.06E+08 2480 2448152851.6 323277414118.14 0 0 32
>0 0 655.3273195.6613929.26204810541943555519414645300.0514171.86229.2313
>680.0231910.0604230.0359380.0039470.003947 0 0 0.082938657
2.09E+08 2512 2480152796.8 315685492081.15 0 0 32
>0 0 1086.0373289.0515253.27208174411975493419733684301.2132171.81138.2672
>360.0233570.0608330.0361780.0039740.003974 0 0 0.080820786
2.13E+08 2541 2512153242.4 2518512 18434.7 0 0 29
>0 0 3484.9686093.15 3570.07210819912000603319984514302.4251171.79687.2732
>810.0233880.0609750.036272 0.00398 0.00398 0 0 0.069622177
>
> 0 0.09676762
340801.5 4416786 45196.7 0 0 64
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
1.3E+08 1806 1784113705.1 1594540 13062.7 0 0 22
>0 0 181.6747336.37 7570.84128453741218648812173310 271271.82198.6444
>610.000131 0 0 0 0 0 0 0.085904281
1.32E+08 1828 1806 113643 1442923 17287.3 0 0 22
>0 0 366.9246587.17 8975.82130099741234321812329883 272272.62447.6423
>990.000129 0 0 0 0 0 0 0.087466736
1.33E+08 1848 1828113453.4 1379324 14846.7 0 0 20
>0 0 812.6154815.07 1376.09131670311249273712479251 273273.76656.6372
>860.000128 0 0 0 0 0 0 0.096767619
>
> 0 0.07783981
118089.3 449135379437.29 0 0 29
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
75644068 674 66439146.52 1638234 1055.44 0 0 10
>0 0 473.6525859.29 6358.42 7635679 7249067 7241335 350 010.240
>450.0624920.1633990.0971840.0106740.010674 0 0 0.077839814
77322504 684 67439153.77 171393174793.85 0 0 10
>0 0 719.1126701.88 6277.45 7807468 7411716 7403801 351 09.3321
>160.0624910.1633240.0971290.0106710.010671 0 0 0.06949439
79150383 693 68439789.01 1139188 3588 0 0 9
>0 0 2672.3531278.08 2193.98 7914961 7513296 7505263 352 08.3447
>940.0624350.1633380.0971640.0106610.010661 0 0 0.02388802
>
> 0 0
0 0 0 0 0 0
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
>
> 0 0
0 0 0 0 0 0
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
0.00444724 0.08526802 00.002076 0 0.0
>99
0 0.0
>97
BankruptREO Total Total Total
>
> Total Total Total
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0.001357858 0.084296515 00.002076 0 Dec-99205.70010.0979
>49 0.0155390.9844610.014214
> 0.0142140.1713320.157843 0.1578439.2313689.279884 9.55782
0.004447236 0.085268023 00.001079 0 Nov-99209.09980.0979
>64 0.0153 0.9847
> 0.013550.168911 0.1510178.26723610.21572
0 0.069622177 0 0 0 Oct-99212.50150.0979
>68 0.0117980.988202
> 0.0117980.132737 0.1327377.2732819.124999
0.0058928 0.09676762 00.002391 0
BankruptREO Fixed Fixed Fixed
>
> Fixed Fixed Fixed
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa1or 2 padel_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0.001398816 0.087303096 00.002391 0 Dec-99 130.0560.0974
>78 0.01221 0.987790.011172
> 0.0111720.1370690.126129 0.1261298.644461 7.928168.253024
0.005892799 0.093359535 00.001711 0 Nov-99131.77730.0975
>62 0.0109590.989041
> 0.0106530.123869 0.1206077.6423998.104049
0 0.096767619 0 0 0 Oct-99133.35120.0976
>36 0.0103470.989653
> 0.0103470.117333 0.1173336.637286 8.83893
0.00198363 0.07912725 00.001535 0
BankruptREO AdjustabAdjustabAdjust
>able
> Adjustable Adjustable Adjustable
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0.001287439 0.079127253 00.001535 0 Dec-9975.644070.0987
>51 0.0212110.9787890.019358
> 0.0193580.2268450.209094 0.20909410.2404511.0759211.23465
0.001983628 0.071478018 0 0 0 Nov-99 77.32250.0986
>41 0.02261 0.97739
> 0.01843 0.24 0.2000679.33211612.85884
0 0.02388802 0 0 0 Oct-9979.150380.0985
>27 0.0142330.985767
> 0.0142330.158036 0.1580368.3447949.469117
0 0 0 0 0
BankruptREO
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0 0 0 0
BankruptREO
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
>
> Printing Pages Starting# Pages # Pag
>es
Total Total
>
> 1 1Contents 1 1
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity 2 2Certificate Payment Repo 2 6
> 0
9.557823246.892 0 1 0 0 0 0
> 0 0 0 0
> 3 3Collection Account Repor 8 3
> 0
9.7176353248.935 0 1 0 0
> 0 0 0
> 4 4Credit Enhancement Repor 11 1
9.1249992536.947 0 1 0 0
> 0 0 0
> 5 5Collateral Report 12 3
> 0
>
> 6 6Delinquency Report 15 3
> 0
>
> 7 7REO Report 18 1
>
> 8 Foreclosure Report 0
>
> 9 8Prepayment Report 19 3
> 0
>
> 10 9Prepayment Detail Report 22 1
>
> 11 10Realized Loss Report 23 3
> 0
>
> 12 11Realized Loss Detail Rep 26 1
>
> 13 12Triggers, Adj. Rate Cert 27 1
>
> 14 Other Related Information 0
>
> 15 13Additional Certificate R 28 1
>
> 16 Historical Certificate Payment Report
>
> 17 Credit Ratings
>
> Total Total Total Number of Pages 28
Fixed Fixed Fixed
> Fixed Fixed
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
8.2530241607.603 0 1 0 0 0 0
> 0 0 0 0
8.446052 1460.21 0 1 0 0
> 0 0 0
8.838931394.171 0 1 0 0
> 0 0 0
AdjustabAdjustable Adjustable
> Adjustable Adjustable
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
11.234651639.289 0 1 0 0 0 0
> 0 0 0 0
11.317991788.725 0 1 0 0
> 0 0 0
9.4691171142.776 0 1 0 0
> 0 0 0
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
# Pages Total # # Standard Pgs per Report
1 1
0 6 2 1
0 3 3 1
1 1 1
0 3 3 1
0 3 1 1
1 1
0 0
0 3 3 1
1 1
0 3 3 1
1 1
1 1 1
0 0
1 1 1
0 0
0 0
28
