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Previous: EQUITY INVESTOR FD SEL S&P INDUST PORT 2000 SER A DAF, 487, 2000-02-24 |
Next: CHICAGO MERCANTILE EXCHANGE INC, S-4/A, 2000-02-24 |
<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
February 15, 2000
Date of Report (Date of Earliest Event Reported)
GreenPoint Mortgage Securities Inc. (as Sponsor under the Sale and Servicing
Agreement, dated as of December 1, 1999, providing for the issuance of the
GreenPoint Home Equity Loan Trust 1999-2 Revolving Home Equity
Loan Asset-Backed Notes, Series 1999-2)
GREENPOINT MORTGAGE SECURITIES INC.
-----------------------------------
(Exact Name of Registrant as Specified in Its Charter)
Delaware 333-79833 68-0397342
-------- --------- ----------
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) 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
------------
GreenPoint Mortgage Securities Inc. (the "Company") is Sponsor under
the Sale and Servicing Agreement, dated as of December 1, 1999, providing for
the issuance of the GreenPoint Home Equity Loan Trust 1999-2 Revolving Home
Equity Loan Asset-Backed Notes, Series 1999-2 (the "Series 1999-2 Notes").
The following exhibit which relates specifically to the Series 1999-
2 Notes is included with this Current Report:
Item 7(c). Exhibits
--------
10.1 Monthly Payment Date Statement distributed to holders of
Series 1999-2 Notes dated February 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: February 24, 2000
GREENPOINT MORTGAGE
SECURITIES INC.
By: /s/ Gilbert J. MacQuarrie
--------------------------------------
Gilbert J. MacQuarrie
Vice President, Treasurer and Secretary
(Principal Financial Officer and
Principal Accounting Officer)
<PAGE>
EXHIBIT INDEX
Exhibit Number Page Number
- -------------- -----------
10.1 Monthly Payment Date Statement distributed to holders
of Series 1999-2 Notes dated February 15, 2000......... 5
<PAGE>
Exhibit 10.1
GreenPoint SERVICING CERTIFICATE
Mortgage
<TABLE>
=================================================================================================================================
<S> <C> <C> <C> <C>
Revolving Home Equity Loan LIBOR: 5.78125% Current Collection Period: 01/01/00-01/31/00
Asset-Backed Notes Margin A-1: 0.30000% P&S Agreement Date: 12/1/99
Series 1999-2 Class A-1 Note Rate: 6.08125% Original Closing Date: 12/22/99
Class A-2 Note Rate: 6.16125% Distribution Date: 2/15/00
Margin A-2: 0.38000% Record Date: 2/14/00
Interest Period 01/18/2000 thru 28 Pool Factor: 99.5026846%
02/14/00:
Servicing Fee Rate: 0.50000% Initial Class A-1 O/C Amt: 22.71
Class A-1 Premium Fee Rate: 0.18000% Initial Class A-2 O/C Amt: 565.15
Class A-2 Premium Fee Rate: 0.18000%
Class A-1 O/C Amt as of Pmt 96,141.60
Date:
Trustee Fee: 0.00900% Class A-2 O/C Amt as of Pmt 565.15
Date:
Class A-1 Act Weighted Avg Ln 7.77313%
Rate:
Class A-2 Act Weighted Avg Ln 7.16420%
Rate:
Total Management Fee 500.00
================================================================================================================================
</TABLE>
<TABLE>
<S> <C>
BALANCES
Beginning Class A-1 Pool Balance 196,586,731.48
Beginning Class A-2 Pool Balance 51,995,468.54
Beginning Class A-1 Note Balance -- CUSIP 193,275,000.00
Beginning Class A-2 Note Balance -- CUSIP 51,994,903.39
Class A-1 Overcollateralization Amount to Fill 5,312,633.39
Class A-2 Overcollateralization Amount to Fill 1,438,274.99
Ending Class A-1 Pool Balance 198,357,070.33
Ending Class A-2 Pool Balance 51,245,053.70
Ending Class A-1 Note Balance -- CUSIP 193,178,881.11
Ending Class A-2 Note Balance -- CUSIP 51,244,488.55
Additional Balances Class A-1 8,354,463.92
Additional Balances Class A-2 1,354,496.47
Number of all Retransferred Mortgage Loans (Current Retransfer Date) 0
Retransferred Mortgage Loan Trust Balances (Current Retransfer Date) 0
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 Class A-1 HELOC Mortgage Loans (Current Date) 1108
Subsequent Class A-1 HELOC Mortgage Loan Asset Balance (Current Date) 0.00
Number of all Subsequent Class A-2 Heloc Loans (Current Date) 0
Subsequent Class A-2 HELOC 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 Cummulative Excess of Draws Over Principal Paydown 5,082,047.62
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Beginning Loan Count 5,758
Ending Loan Count 5,685
COLLECTION AMOUNTS Class A-1
1 Aggregate of All Mortgage Collections (Gross) 7,716,545.07
2 Total Mortgage Interest Collections (Gross) 1,132,420.00
Servicing Fees (current collection period) 81,911.14
Deferred Interest Transfer (DI) 0.00
3a Mortgage Principal Collections 6,584,125.07
3b Pre-Funded Balance 0.00
3c Net Liquidation Proceeds 0.00
3 Total Mortgage Principal Collections 6,584,125.07
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) 2,374,643.95
2 Total Mortgage Interest Collections (Gross) 269,732.64
Servicing Fees (current collection period) 21,664.78
Deferred Interest Transfer (DI) 0.00
3a Mortgage Principal Collections 2,104,911.31
3b Pre-Funded Balance 0.00
3c Net Liquidation Proceeds 0.00
3 Total Mortgage Principal Collections 2,104,911.31
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) 10,091,189.02
2 Total Mortgage Interest Collections (Gross) 1,402,152.64
Servicing Fees (current collection period) 103,575.92
Deferred Interest Transfer (DI) 0.00
3a Mortgage Principal Collections 8,689,036.38
3b Insurance Proceeds 0.00
3c Net Liquidation Proceeds 0.00
3 Total Mortgage Principal Collections 8,689,036.38
Aggregate of Transfer Deposits 0.00
Investor Loss Amount 0.00
Aggregate Investor Loss Reduction Amount 0.00
Class A-1 Net Interest Collection 1,050,508.86
Class A-2 Net Interest Collection 248,067.86
DISTRIBUTION AMOUNTS Class A-1
Class A-1 Note Interest 8.6 (d)(iv) 914,163.91
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) 28,991.25
Credit Enhancer Reimbursement 0.00
Accelerated Principal Distribution Amount 96,118.89
Spread Account Deposit 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Indenture Trustee Fee 8.6 (d)(i) 1,449.56
Management Fee 8.6 (d)(iii) 393.40
Payment to Servicer 0.00
Deferred Interest 0.00
Remaining Amount to Transferor 0.00
Total Certificateholders Distribution Allocable to Interest 1,041,117.01
Maximum Principal Payment 0.00
Scheduled Principal Collection Payment ((x)the excess of Max Prin Pymt (y) the HELOC
Pool O/C Redctin Amt) 8.6(d)(v) 0.00
Accelerated Principal Distribution Amount 96,118.89
Loan Loss 0.00
Class A-1 Overcollateralization Deficit 8.6 (d)(vi) 0.00
Total Certificateholders Distribution Allocable to Principal 96,118.89
DISTRIBUTION AMOUNTS Class A-2
Class A-2 Note Interest 8.6 (d)(iv) 249,163.91
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) 7,799.24
Credit Enhancer Reimbursement 0.00
Accelerated Principal Distribution Amount 0.00
Spread Account Deposit 0.00
Indenture Trustee Fee 8.6 (d)(i) 389.96
Management Fee 8.6 (d)(iii) 106.60
Payment to Servicer 0.00
Deferred Interest 0.00
Remaining Amount to Transferor 0.00
Total Certificateholders Distribution Allocable to Interest 257,459.71
Maximum Principal Payment 750,414.84
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 0.00
Loan Loss 0.00
Class A-2 Overcollateralization Deficit 8.6 (d)(vi) 0.00
Total Certificateholders Distribution Allocable to Principal 750,414.84
TOTAL DISTRIBUTION AMOUNT
Class A Note Interest 8.6 (d)(iv) 1,163,327.82
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) 36,790.49
Credit Enhancer Reimbursement 5.01(vi) 0.00
Accelerated Principal Distribution Amount 5.01(vii) 96,118.89
Spread Account Deposit 5.01(viii) 0.00
Indenture Trustee Fee 8.6 (d)(i) 1,839.52
Management Fee 8.6 (d)(iii) 500.00
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 1,298,576.72
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Maximum Principal Payment 750,414.84
Scheduled Principal Collection Payment 0.00
Accelerated Principal Distribution Amount 96,118.89
Loan Loss 0.00
Overcollateralization Deficit 8.6 (d)(vi) 0.00
Total Certificateholders Distribution Allocable to Principal 846,533.73
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 4.7298611
Interest Distribution Amount 4.7298611
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 0.4973167
Maximum Principal Payment 0.0000000
Scheduled Principal Collections Payment 0.0000000
Loan Loss 0.0000000
Accelerated Principal Distribution Amount 0.4973167
Class A-2
Total Class A-2 Note Distribution Amount Allocable to Interest 4.7577604
Interest Distribution Amount 4.7577604
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 14.3290976
Maximum Principal Payment 14.3290976
Scheduled Principal Collections Payment 0.0000000
Loan Loss 0.0000000
Accelerated Principal Distribution Amount 0.0000000
Total Interest Amount Distributed to Class A Certificateholder 9.4876215
Total Principal Amount Distributed to Class A Certificateholder 14.8264143
Credit Enhancement Draw Amount 0.00
DELINQUENCIES/FORECLOSURES
Class A-1
Number of Mortgages 30 to 59 Days Delinquent 90
Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 3,583,808.51
Number of Mortgages 60 to 89 Days Delinquent 9
Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 342,771.90
Number of Mortgages 90 to 179 Days Delinquent 0
Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent 0.00
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
</TABLE>
<PAGE>
<TABLE>
<S> <C>
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
Class A-2
Number of Mortgages 30 to 59 Days Delinquent 6
Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 657,121.37
Number of Mortgages 60 to 89 Days Delinquent 1
Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 98,364.06
Number of Mortgages 90 to 179 Days Delinquent 0
Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent 0.00
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 0.00
Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00
TOTAL DELINQUENCIES/FORECLOSURES
Number of Mortgages 30 to 59 Days Delinquent 96
Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 4,240,929.88
Number of Mortgages 60 to 89 Days Delinquent 10
Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 441,135.96
Number of Mortgages 90 to 179 Days Delinquent 0
Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent 0.00
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 0.00
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
PRE-FUNDED ACCOUNT ACTIVITY
Beginning Balance Pre-Funded Account 50,000,000.00
Remaining Amount for Distribution to Classes 0.00
Withdrawal for Subsequent Loan Purchase: (49,999,441.28)
Ending Balance Pre-Funded Account 558.72
</TABLE>
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
<PAGE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
GREENPOINT MORTGAGE STATEMENT TO NOTEHOLDERS
===================================================================================================================================
Revolving Home Equity Loan LIBOR: 5.78125% Current Collection Period: 01/01/00-01/31/00
Asset-Backed Notes Margin: 0.30000% P&S Agreement Date: 12/1/99
Series 1999-2 Class A-1 Note Rate: 6.08125% Original Closing Date: 12/22/99
Class A-2 Note Rate: 6.16125% Distribution Date: 2/15/00
Record Date: 2/14/00
Interest Period 01/18/2000 thru 28 Pool Factor: 99.5026846%
02/14/00:
==================================================================================================================================
<S> <C>
BALANCES
Beginning HELOC Pool Balance 196,586,731.48
Beginning Second Lien Pool Balance 51,995,468.54
Beginning Class A-1 Note Balance -- CUSIP 193,275,000.00
Beginning Class A-2 Note Balance -- CUSIP 51,994,903.39
Ending Class A-1 Pool Balance 198,357,070.33
Ending Class A-2 Pool Balance 51,245,053.70
Ending Class A-1 Note Balance -- CUSIP 193,178,881.11
Ending Class A-2 Note Balance -- CUSIP 51,244,488.55
Additional Balances Class A-1 8,354,463.92
Additional Balances Class A-2 1,354,496.47
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) 1,108
Subsequent HELOC Mortgage Loan Asset Balance (Current Date) 0.00
Number of all SubsequentSecond 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 Cummulative Excess of Draws Over Principal Paydown 5,082,047.62
Beginning Loan Count 5,758
Ending Loan Count 5,685
COLLECTION AMOUNTS Class A-1
Aggregate of All Mortgage Collections 7,634,633.93
Total Mortgage Interest Collections 1,132,420.00
Servicing Fees (current collection period) (81,911.14)
Mortgage Principal Collections 6,584,125.07
Pre-Funded Balance 0.00
0.00
Total Mortgage Principal Collections 6,584,125.07
</TABLE>
<PAGE>
<TABLE>
<S>
COLLECTION AMOUNTS Class A-2 <C>
Aggregate of All Mortgage Collections 2,352,979.17
Total Mortgage Interest Collections 269,732.64
Servicing Fees (current collection period) (21,664.78)
Mortgage Principal Collections 2,104,911.31
Pre-Funded Balance 0.00
0.00
Total Mortgage Principal Collections 2,104,911.31
TOTAL COLLECTION AMOUNT
Aggregate of All Mortgage Collections 10,091,189.02
Total Mortgage Interest Collections 1,402,152.64
Mortgage Principal Collections 8,689,036.38
Pre-Funded Balance 0.00
Total Mortgage Principal Collections 8,689,036.38
DISTRIBUTION AMOUNTS Class A-1
Class A-1 Note Interest 914,163.91
Class A-1 Note Unpaid Interest Shortfall (current cycle) 0.00
Class A-1 Note Reserve Fund Amount 0.00
Maximum Principal Payment 0.00
Scheduled Principal Collection 0.00
Accelerated Principal Distribution Amount 96,118.89
Loan Loss 0.00
Class A-1 Overcollateralization Deficit 0.00
Total Certificateholders Distribution Allocable to 96,118.89
Principal
DISTRIBUTION AMOUNTS Class A-2
Class A-2 Note Interest 249,163.91
Class A-2 Note Unpaid Interest Shortfall (current cycle) 0.00
Class A-2 Note Reserve Fund Amount 0.00
Maximum Principal Payment 750,414.84
Scheduled Principal Collection 0.00
Accelerated Principal Distribution Amount 0.00
Loan Loss 0.00
Class A-2 Overcollateralization Deficit 0.00
Total Certificateholders Distribution Allocable to 750,414.84
Principal
TOTAL DISTRIBUTION AMOUNT
Class A Note Interest 1,163,327.82
Class A Note Unpaid Interest Shortfall (current cycle) 0.00
Class A Note Reserve Fund Amount 0.00
Maximum Principal Payment 750,414.84
Scheduled Principal Collection Payment 0.00
Accelerated Principal Distribution Amount 96,118.89
Overcollateralization Deficit 0.00
Total Certificateholders Distribution Allocable to Principal 846,533.73
</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 4.7298611
Interest Distribution Amount 4.7298611
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 0.4973167
Maximum Principal Payment 0.0000000
Scheduled Principal Collections Payment 0.0000000
Loan Loss 0.0000000
Accelerated Principal Distribution Amount 0.4973167
Class A-2
Total Class A-2 Note Distribution Amount Allocable to Interest 4.7577604
Interest Distribution Amount 4.7577604
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 14.3290976
Maximum Principal Payment 14.3290976
Scheduled Principal Collections Payment 0.0000000
Loan Loss 0.0000000
Accelerated Principal Distribution Amount 0.0000000
Total Interest Amount Distributed to Class A Certificateholder 9.4876215
Total Principal Amount Distributed to Class A Certificateholder 14.8264143
Credit Enhancement Draw Amount 0.00
DELINQUENCIES/FORECLOSURES
Class A-1
Number of Mortgages 31 to 60 Days Delinquent 90
Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 3,583,808.51
Number of Mortgages 61 to 90 Days Delinquent 9
Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 342,771.90
Number of Mortgages 91 to 180 or more Days Delinquent 0
Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 0.00
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 Foreclosure 0.00
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 6
Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 657,121.37
Number of Mortgages 61 to 90 Days Delinquent 1
Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 98,364.06
Number of Mortgages 91 to 180 or more Days Delinquent 0
Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 0.00
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 Foreclosure 0.00
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
TOTAL DELINQUENCIES/FORECLOSURES
Number of Mortgages 31 to 60 Days Delinquent 96
Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 4,240,929.88
Number of Mortgages 61 to 90 Days Delinquent 10
Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 441,135.96
Number of Mortgages 91 to 180 or more Days Delinquent 0
Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 0.00
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 Foreclosure 0.00
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
=================================================================================================================================
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>
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