EXHIBIT 20.5
<PAGE>
<TABLE>
<CAPTION>
ALLIANCE FUNDING COMPANY
by SUPERIOR BANK - FSB SERVICING DIVISION
Designated Servicer
SERVICER'S CERTIFICATE
AFC Mortgage Loan Asset Backed Notes, Series
2000-1 Group 1
In accordance with section 6.08 of the Pooling and Servicing Agreement dated as of March 1, 2000
Superior Bank - FSB Servicing Division reports the following
information pertaining to Series 2000-1 Group 1 for August 25, 2000, the Remittance date.
Due period ended: August 1, 2000
----------------------------------------------------------------------------------------------------
<S> <C>
1 Total Actual Principal Collections 936,624.00
2 Total Permanent Buydown Companion Interest 10,870.43
3 Total Actual Interest Collections 988,073.19
4 Less Service Fees Service Fees Previously Remitted 56,421.41
5 Additional Proceeds 0.00
--------------------
6 Total Collections: 1,879,146.21
7 Pre-Funding Account Transfer 0.00
8 Interest Coverage Account Transfer 0.00
9 Deferred Interest Coverage Account Transfer 0.00
--------------------
10 Aggregate Amount Received: 1,879,146.21
Monthly Advances
11 Monthly Advance (10,114.70)
12 Compensating Interest 4,414.37
13 Amounts Held for Future Distributions 0.00
14 Cross Collateral Deposit 0.00
15 Reserve Withdrawal per Sec. 6.14c 0.00
--------------------
16 Available Remittance Amount: 1,873,445.88
17 Service Fees 0.00
18 Expense Account Deposit @ 0.012 bp: 1,030.94
--------------------
19 Adjusted Remittance Amount: 1,872,414.94
Remaining Amount Available:
20 Adjusted Remittance Amount 1,872,414.94
21 Insured Payments 0.00
22 Monthly Premium @ 20 bp
due Certificate Insurer 15,893.58
23 Cross Collateral Withdrawal 0.00
24 Class Remittance Amounts 1,856,521.36
25 Non-Recoverable Advances not
Previously Reimbursed 0.00
--------------------
Total Remaining Amount Available: 0.00
====================
Amount of Reimbursements Pursuant to Sec. 5.04
26 Servicing Fee 0.00
27 Monthly Advances and Servicer Advances 0.00
28 Other Mortgage Payments 0.00
29 Interest Earned on P&I Deposits 0.00
30 Additional Servicing Compensation 0.00
----------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 4
<PAGE>
<TABLE>
<CAPTION>
ALLIANCE FUNDING COMPANY
by SUPERIOR BANK - FSB SERVICING DIVISION
Designated Servicer
SERVICER'S CERTIFICATE
AFC Mortgage Loan Asset Backed Notes, Series
2000-1 Group 1
In accordance with section 6.08 of the Pooling and Servicing Agreement dated as of March 1, 2000
Superior Bank - FSB Servicing Division reports the following
information pertaining to Series 2000-1 Group 1 for August 25, 2000, the Remittance date.
Due period ended: August 1, 2000
-----------------------------------------------------------------------------------------------------------------------------------
Total Class 1A Equity Certificate
----- -------- ------------------
<S> <C> <C> <C>
31 Loans Outstanding - BOM 1787
32 Original Loan Balance 103,094,170.11 103,094,170.11
34 Pre-Funding Account Balance 0.00 0.00
35 Initial Overcollateralization 6,796,045.60 6,796,045.60
36 Realized Losses, LTD 0.00 0.00
38 Carryforward Amount 0.00 0.00
39 Aggregate Unpaid Principal Balance of Delinquent
Loans Repurchased per Sec. 5.11 0.00 0.00
----------------------------------------
40 Total Class Note Principal Balance 96,298,124.51 96,298,124.51
41 Group Factor per Loan Balance 103.0941701% 103.0941701%
42 Group Factor per Class Note Balance 96.2981245% 96.2981245%
43 Excess Spread 0.00 0.00
44 Cross Collateral Withdrawal 0.00 0.00
45 Cross Collateral Deposit 0.00 0.00
46 Additional Principal due Note A 343,579.83 343,579.83
47 Interest Remittance @ Pass-Through Rates 576,317.53 576,317.53
Principal Additions:
48 Number of loans 0 0
49 Transfers from Pre-Funding Account 0.00 0.00
Principal Reductions:
50 Prepayments - Number 16 16
51 Prepayments - Dollar 798,427.50 798,427.50
52 Delinquent Loans Repurchased - Number 0 0.00
53 Delinquent Loans Repurchased - Dollar 0.00 0.00
54 Net Liquidation Proceeds 0.00 0.00
55 Curtailments 6,000.00 6,000.00
56 Normal and Excess Payments 132,196.50 132,196.50
57 Pre-Funding Account Transfer 0.00 0.00
-------------------------------------------------------------------------
58 Total Principal Remittance 936,624.00 936,624.00
59 Additional Principal Reduction 343,579.83 343,579.83
-------------------------------------------------------------------------
60 Total Remittance 1,856,521.36 1,856,521.36 0.00
=========================================================================
61 Current Month Realized Loss - Number 0 0
62 Current Month Realized Loss - Dollar 0.00 0.00
61 LTD Realized Loss - Number 0
62 LTD Realized Loss - Dollar 0.00
Class Note Principal Balance - EOM
64 Loans Outstanding - EOM 1771
65 Closing Loan Balance 102,157,546.11 102,157,546.11
67 Pre-Funding Account Balance 0.00 0.00
68 Additional Principal Reduction, LTD 7,139,625.43 7,139,625.43
69 Realized losses, LTD 0.00 0.00
71 Aggregate Unpaid Principal Balance of Delinquent
72 Loans Repurchased per Sec. 5.11 0.00 0.00
-------------------------------------------------------------------------
73 Total Class Note Principal Balance 95,017,920.68 95,017,920.68
74 Group Factor per Loan Balance 102.1575461% 102.1575461%
75 Group Factor per Class Note Balance 95.0179207% 95.0179207%
-----------------------------------------------------------------------------------------------------------------------------------
Permanent Buydown Companion Loan Balance 581,302.64 581,302.64
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 4
<PAGE>
<TABLE>
<CAPTION>
ALLIANCE FUNDING COMPANY
by SUPERIOR BANK - FSB SERVICING DIVISION
Designated Servicer
SERVICER'S CERTIFICATE
AFC Mortgage Loan Asset Backed Notes, Series
2000-1 Group 1
In accordance with section 6.08 of the Pooling and Servicing Agreement dated as of March 1, 2000
Superior Bank - FSB Servicing Division reports the following
information pertaining to Series 2000-1 Group 1 for August 25, 2000, the Remittance date.
Due period ended: August 1, 2000
-------------------------------------------------------------------------------------------------------------
Total Class A-1
----- ---------
<S> <C> <C> <C>
76 Weighted Note Rate - THIS Remittance 11.42901%
77 Weighted Note Rate - NEXT Remittance 11.42512%
78 Related Remittance Period for Libor Rate 25-Jul-00 thru 24-Aug-00
79 Days in Related Period 31
80 Pass-Through Rates 6.95000%
81 Weighted Average Remaining Term 253.00
82 Original Pool - Principal Balance 65,333,204.47 65,333,204.47
84 Original Pool - Pre-Funding Account 39,929,953.42 39,929,953.42
85 Original Pool - Additional Principal Reduction 5,263,157.89 5,263,157.89
---------------------------------------
86 Original Pool Total 100,000,000.00 100,000,000.00
87 Original Pool - Number of Loans
-----------------------------------------------------------------------------------------------------------
Class A Overcollateralization Reconciliation
Beg. of Month Current Month End of Month
--------------------------------------------------------
88 Additional Principal Reduction, LTD 6,796,045.60 343,579.83 7,139,625.43
89 Cross Collateral Deposits 0.00 0.00 0.00
90 Realized Losses, LTD 0.00 0.00 0.00
--------------------------------------------------------
92 Overcollateralization of Principal 6,796,045.60 343,579.83 7,139,625.43
========================================================
93 Base Overcollateralization Required 10,052,631.58
94 Required Overcollateralization Amount 10,052,631.58
Aggregate Overcollateralization Reconciliation
Beg. of Month Current Month End of Month
--------------------------------------------------------
95 Class 1A Overcollateralization of Principal 6,796,045.60 343,579.83 7,139,625.43
96 Class 2A Overcollateralization of Principal 8,801,583.77 455,119.75 9,256,703.52
--------------------------------------------------------
97 Overcollateralization of Principal 15,597,629.37 798,699.59 16,396,328.95
========================================================
98 Base Aggregate Overcollateralization Required 21,714,928.38
99 Required Aggregate Overcollateralization Amount 21,714,928.38
Current Month Subordinated Amount Beg. of Month Current Month End of Month
--------------------------------------------------------
100 Original Subordinated Amount 16,052,631.58 N/A 16,052,631.58
101 Less: Cumulative Realized Losses 0.00 0.00 0.00
102 Plus: Cumulative Additional Proceeds 0.00 0.00 0.00
--------------------------------------------------------
103 Current Subordinated Amount 16,052,631.58 16,052,631.58
========================================================
Nonrecoverable Advance Reconciliation
104 Beginning of Month 0.00
105 Current Month Unpaid Nonrecoverable Advance 0.00
106 Less: Current Month Reimbursement 0.00
-------------------
107 End of Month 0.00
-------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 4
<PAGE>
<TABLE>
<CAPTION>
ALLIANCE FUNDING COMPANY
by SUPERIOR BANK - FSB SERVICING DIVISION
Designated Servicer
SERVICER'S CERTIFICATE
AFC Mortgage Loan Asset Backed Notes, Series
2000-1 Group 1
In accordance with section 6.08 of the Pooling and Servicing Agreement dated as of March 1, 2000
Superior Bank - FSB Servicing Division reports the following
information pertaining to Series 2000-1 Group 1 for August 25, 2000, the Remittance date.
Due period ended: August 1, 2000
-----------------------------------------------------------------------------------------------------
Class
Total A1
---------------------------------------
<S> <C> <C>
108 Total Class Note Principal - Original Pool $100,000,000.00 $100,000,000.00
109 Interest Remittance Amount 576,317.53 576,317.53
110 Interest Rate Factor / 1000 5.763175 5.763175
111 Total Principal Collections 936,624.00 936,624.00
112 Prefunding Account Transfer 0.00 0.00
113 Additional Principal Reduction 343,579.83 343,579.83
---------------------------------------
114 Principal Remittance Amount 1,280,203.83 1,280,203.83
115 Principal Payment Factor/1000 12.802038 12.802038
116 Principal Factor 950.179207 950.179207
117 Prior Month Principal Factor 962.981245 962.981245
-----------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 4
<PAGE>
<TABLE>
<CAPTION>
ALLIANCE FUNDING COMPANY
by SUPERIOR BANK - FSB SERVICING DIVISION
Designated Servicer
SERVICER'S CERTIFICATE
AFC Mortgage Loan Asset Backed Notes, Series
2000-1 Group 2
In accordance with section 6.08 of the Pooling and Servicing Agreement dated as of March 1, 2000
Superior Bank - FSB Servicing Division reports the following
information pertaining to Series 2000-1 Group 2 for August 25, 2000, the Remittance date.
Due period ended: August 1, 2000
----------------------------------------------------------------------------------------------------
<S> <C>
1 Total Actual Principal Collections 1,750,595.67
3 Total Actual Interest Collections 1,294,432.00
4 Less Service Fees Service Fees Previously Remitted 74,714.98
5 Additional Proceeds 0.00
--------------------
6 Total Collections: 2,970,312.69
7 Pre-Funding Account Transfer 0.00
8 Interest Coverage Account Transfer 0.00
9 Deferred Interest Coverage Account Transfer 0.00
--------------------
10 Aggregate Amount Received: 2,970,312.69
Monthly Advances
11 Monthly Advance 40,628.25
12 Compensating Interest 7,532.39
13 Amounts Held for Future Distributions 0.00
14 Cross Collateral Deposit 0.00
15 Reserve Withdrawal per Sec. 6.14c 0.00
--------------------
16 Available Remittance Amount: 3,018,473.33
17 Service Fees on Interest Coverage 0.00
18 Expense Account Deposit @ 0.012bp: 1,424.27
--------------------
19 Adjusted Remittance Amount: 3,017,049.06
Remaining Amount Available:
20 Adjusted Remittance Amount 3,017,049.06
21 Insured Payments 0.00
22 Monthly Premium @ 20 bp
due Certificate Insurer 21,979.12
23 Cross Collateral Withdrawal 0.00
24 Class Remittance Amounts 2,995,069.94
25 Non-Recoverable Advances not
Previously Reimbursed 0.00
--------------------
Total Remaining Amount Available: 0.00
====================
Amount of Reimbursements Pursuant to Sec. 5.04
26 Servicing Fee 0.00
27 Monthly Advances and Servicer Advances 0.00
28 Other Mortgage Payments 0.00
29 Interest Earned on P&I Deposits 0.00
30 Additional Servicing Compensation 0.00
----------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 4
<PAGE>
<TABLE>
<CAPTION>
ALLIANCE FUNDING COMPANY
by SUPERIOR BANK - FSB SERVICING DIVISION
Designated Servicer
SERVICER'S CERTIFICATE
AFC Mortgage Loan Asset Backed Notes, Series
2000-1 Group 2
In accordance with section 6.08 of the Pooling and Servicing Agreement dated as of March 1, 2000
Superior Bank - FSB Servicing Division reports the following
information pertaining to Series 2000-1 Group 2 for August 25, 2000, the Remittance date.
Due period ended: August 1, 2000
----------------------------------------------------------------------------------------------------------------------------------
Total Class 2A Equity Certificates
----- -------- -------------------
<S> <C> <C> <C>
31 Loans Outstanding - BOM 1581
32 Beginning Loan Balance 142,426,913.77 142,426,913.77
35 Initial Overcollateralization 8,801,583.77 8,801,583.77
36 Realized Losses, LTD 0.00 0.00
38 Carryforward Amount 0.00 0.00
39 Aggregate Unpaid Principal Balance of Delinquent
Loans Repurchased per Sec. 5.11 0.00 0.00
---------------------------------------
40 Total Class Note Principal Balance 133,625,330.00 133,625,330.00
41 Group Factor per Loan Balance 102.4654056% 102.4654056%
42 Group Factor per Note Balance 96.1333309% 96.1333309%
43 Excess Spread 0.00 0.00
44 Cross Collateral Withdrawal 0.00 0.00
45 Cross Collateral Deposit 0.00 0.00
46 Additional Principal due Class A 455,119.75 455,119.75
47 Interest Remittance @ Pass-Through Rates 789,354.52 789,354.52
Principal Additions:
48 Number of loans 0 0
49 Transfers from Pre-Funding Account 0.00 0.00
Principal Reductions:
50 Prepayments - Number 12 12
51 Prepayments - Dollar 1,623,724.17 1,623,724.17
52 Delinquent Loans Repurchased - Number 0 0.00
53 Delinquent Loans Repurchased - Dollar 0.00 0.00
54 Net Liquidation Proceeds 0.00 0.00
55 Curtailments 0.00 0.00
56 Normal and Excess Payments 126,871.50 126,871.50
57 Pre-Funding Account Transfer 0.00 0.00
--------------------------------------------------------------------------
58 Total Principal Remittance 1,750,595.67 1,750,595.67
59 Additional Principal Reduction 455,119.75 455,119.75
--------------------------------------------------------------------------
60 Total Remittance 2,995,069.94 2,995,069.94 0.00
==========================================================================
61 Current Month Realized Loss - Number 0 0
62 Current Month Realized Loss - Dollar 0.00 0.00
63 LTD Realized Loss - Number 0
64 LTD Realized Loss - Dollar 0.00
Class Note Principal Balance - EOM
65 Loans Outstanding - EOM 1569
66 Closing Loan Balance 140,676,318.10 140,676,318.10
67 Pre-Funding Account Balance 0.00 0.00
68 Additional Principal Reduction, LTD 9,256,703.52 9,256,703.52
69 Realized losses, LTD 0.00 0.00
70 Aggregate Unpaid Principal Balance of Delinquent
Loans Repurchased per Sec. 5.11 0.00 0.00
--------------------------------------------------------------------------
71 Total Class Note Principal Balance 131,419,614.58 131,419,614.58
72 Group Factor per Loan Balance 101.2059842% 101.2059842%
73 Group Factor per Class Note Balance 94.5464853% 94.5464853%
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 4
<PAGE>
<TABLE>
<CAPTION>
ALLIANCE FUNDING COMPANY
by SUPERIOR BANK - FSB SERVICING DIVISION
Designated Servicer
SERVICER'S CERTIFICATE
AFC Mortgage Loan Asset Backed Notes, Series
2000-1 Group 2
In accordance with section 6.08 of the Pooling and Servicing Agreement dated as of March 1, 2000
Superior Bank - FSB Servicing Division reports the following
information pertaining to Series 2000-1 Group 2 for August 25, 2000, the Remittance date.
Due period ended: August 1, 2000
---------------------------------------------------------------------------------------------------------------
Total Class A-2
----- ---------
<S> <C> <C> <C>
74 Weighted Note Rate - THIS Remittance 11.33347%
75 Weighted Note Rate - NEXT Remittance 11.33824%
76 Related Remittance Period for Libor Rate 25-Jul-00 thru 24-Aug-00
77 Days in Related Period 31
78 Pass-Through Rates 6.86000%
79 Weighted Average Remaining Term 353.11
80 Original Pool - Principal Balance 90,300,887.85 90,300,887.85
81 Original Pool - Pre-Funding Account 55,477,822.18 55,477,822.18
82 Original Pool - Additional Principal Reduction 6,778,710.03 6,778,710.03
---------------------------------------
83 Original Pool Total 139,000,000.00 139,000,000.00
84 Original Pool - Number of Loans 966
-----------------------------------------------------------------------------------------------------------
Class A Overcollateralization Reconciliation
Beg. of Month Current Month End of Month
--------------------------------------------------------
85 Additional Principal Reduction, LTD 8,801,583.77 455,119.75 9,256,703.52
86 Cross Collateral Deposits 0.00 0.00 0.00
87 Realized Losses, LTD 0.00 0.00 0.00
--------------------------------------------------------
88 Overcollateralization of Principal 8,801,583.77 455,119.75 9,256,703.52
========================================================
89 Base Overcollateralization Required 11,662,296.80
90 Required Overcollateralization Amount 11,662,296.80
Aggregate Overcollateralization Reconciliation
Beg. of Month Current Month End of Month
--------------------------------------------------------
91 Class 1A Overcollateralization of Principal 6,796,045.61 343,579.83 7,139,625.44
92 Class 2A Overcollateralization of Principal 8,801,583.77 455,119.75 9,256,703.52
--------------------------------------------------------
93 Overcollateralization of Principal 15,597,629.38 798,699.59 16,396,328.96
========================================================
94 Base Aggregate Overcollateralization Required 21,714,928.38
95 Required Aggregate Overcollateralization Amount 21,714,928.38
Current Month Subordinated Amount Beg. of Month Current Month End of Month
--------------------------------------------------------
96 Original Subordinated Amount 20,044,572.63 N/A 20,044,572.63
97 Less: Cumulative Realized Losses 0.00 0.00 0.00
98 Plus: Cumulative Additional Proceeds 0.00 0.00 0.00
--------------------------------------------------------
99 Current Subordinated Amount 20,044,572.63 20,044,572.63
========================================================
Nonrecoverable Advance Reconciliation
100 Beginning of Month 0.00
101 Current Month Unpaid Nonrecoverable Advance 0.00
102 Less: Current Month Reimbursement 0.00
-------------------
103 End of Month 0.00
---------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 4
<PAGE>
<TABLE>
<CAPTION>
ALLIANCE FUNDING COMPANY
by SUPERIOR BANK - FSB SERVICING DIVISION
Designated Servicer
SERVICER'S CERTIFICATE
AFC Mortgage Loan Asset Backed Notes, Series
2000-1 Group 2
In accordance with section 6.08 of the Pooling and Servicing Agreement dated as of March 1, 2000
Superior Bank - FSB Servicing Division reports the following
information pertaining to Series 2000-1 Group 2 for August 25, 2000, the Remittance date.
Due period ended: August 1, 2000
---------------------------------------------------------------------------------------------------------------
Class
Total A2
---------------------------------------
<S> <C> <C>
104 Total Class Note Principal - Original Pool $139,000,000.00 $139,000,000.00
105 Interest Remittance Amount 789,354.52 789,354.52
106 Interest Rate Factor / 1000 5.678809 5.678809
107 Total Principal Collections 1,750,595.67 1,750,595.67
108 Prefunding Account Transfer 0.00 0.00
109 Additional Principal Reduction 455,119.75 455,119.75
---------------------------------------
110 Principal Remittance Amount 2,205,715.42 2,205,715.42
111 Principal Payment Factor/1000 15.868456 15.868456
112 Principal Factor 945.464853 945.464853
113 Prior Month Principal Factor 961.333309 961.333309
---------------------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 4
