EXHIBIT 20.2
<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 May 25, 2000, the Remittance date.
Due period ended: May 1, 2000
--------------------------------------------------------------------------------------------------
<S> <C>
1 Total Actual Principal Collections 584,968.31
2 Total Permanent Buydown Companion Interest 1,415.43
3 Total Actual Interest Collections 514,576.45
4 Less Service Fees Service Fees Previously Remitted 17,630.81
5 Additional Proceeds 0.00
--------------------
6 Total Collections: 1,083,329.38
7 Pre-Funding Account Transfer 0.00
8 Interest Coverage Account Transfer 315,153.81
9 Deferred Interest Coverage Account Transfer 67,053.42
--------------------
10 Aggregate Amount Received: 1,465,536.61
Monthly Advances
11 Monthly Advance 90,512.65
12 Compensating Interest 1,770.75
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: 1,557,820.01
17 Service Fees 21,859.63
18 Expense Account Deposit @ 0.012 bp: 1,049.05
--------------------
19 Adjusted Remittance Amount: 1,534,911.33
Remaining Amount Available:
20 Adjusted Remittance Amount 1,534,911.33
21 Insured Payments 0.00
22 Monthly Premium @ 20 bp
due Certificate Insurer 16,439.32
23 Cross Collateral Withdrawal 0.00
24 Class Remittance Amounts 1,518,472.01
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 May 25, 2000, the Remittance date.
Due period ended: May 1, 2000
----------------------------------------------------------------------------------------------------------------------------------
Total Class 1A Equity Certificate
----- --------- ------------------
<S> <C> <C> <C>
31 Loans Outstanding - BOM 1146
32 Original Loan Balance 64,974,872.98 64,974,872.98
34 Pre-Funding Account Balance 39,929,953.42 39,929,953.42
35 Initial Overcollateralization 5,683,967.84 5,683,967.84
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 99,220,858.56 99,220,858.56
41 Group Factor per Loan Balance 64.9748730% 64.9748730%
42 Group Factor per Class Note Balance 99.2208586% 99.2208586%
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 397,711.06 397,711.06
47 Interest Remittance @ Pass-Through Rates 535,792.64 535,792.64
Principal Additions:
48 Number of loans 673 673
49 Transfers from Pre-Funding Account 39,922,222.57 39,922,222.57
Principal Reductions:
50 Prepayments - Number 8 8
51 Prepayments - Dollar 526,605.71 526,605.71
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 58,362.60 58,362.60
57 Pre-Funding Account Transfer 0.00 0.00
--------------------------------------------------------------------------
58 Total Principal Remittance 584,968.31 584,968.31
59 Additional Principal Reduction 397,711.06 397,711.06
--------------------------------------------------------------------------
60 Total Remittance 1,518,472.01 1,518,472.01 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 1811
65 Closing Loan Balance 104,312,127.24 104,312,127.24
67 Pre-Funding Account Balance 7,730.85 7,730.85
68 Additional Principal Reduction, LTD 6,081,678.90 6,081,678.90
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 98,238,179.19 98,238,179.19
74 Group Factor per Loan Balance 104.3121272% 104.3121272%
75 Group Factor per Class Note Balance 98.2381792% 98.2381792%
-----------------------------------------------------------------------------------------------------------------------------------
</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 May 25, 2000, the Remittance date.
Due period ended: May 1, 2000
---------------------------------------------------------------------------------------------------------------------------------
Total Class A-1
----- ---------
<S> <C> <C> <C>
76 Weighted Note Rate - THIS Remittance 11.36500 %
77 Weighted Note Rate - NEXT Remittance 11.36500%
78 Related Remittance Period for Libor Rate 25-Apr-00 thru 24-May-00
79 Days in Related Period 30
80 Pass-Through Rates 6.48000%
81 Weighted Average Remaining Term 255.32
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 5,683,967.84 397,711.06 6,081,678.90
89 Cross Collateral Deposits 0.00 0.00 0.00
90 Realized Losses, LTD 0.00 0.00 0.00
--------------------------------------------------------
92 Overcollateralization of Principal 5,683,967.84 397,711.06 6,081,678.90
========================================================
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 5,683,967.84 397,711.06 6,081,678.90
96 Class 2A Overcollateralization of Principal 7,341,236.19 523,074.64 7,864,310.83
--------------------------------------------------------
97 Overcollateralization of Principal 13,025,204.03 920,785.70 13,945,989.73
========================================================
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 May 25, 2000, the Remittance date.
Due period ended: May 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 535,792.64 535,792.64
110 Interest Rate Factor / 1000 5.357926 5.357926
111 Total Principal Collections 584,968.31 584,968.31
112 Prefunding Account Transfer 0.00 0.00
113 Additional Principal Reduction 397,711.06 397,711.06
---------------------------------------
114 Principal Remittance Amount 982,679.37 982,679.37
115 Principal Payment Factor/1000 9.826794 9.826794
116 Principal Factor 982.381792 982.381792
117 Prior Month Principal Factor 992.208586 992.208586
---------------------------------------------------------------------------------------------------------------------------------
</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 May 25, 2000, the Remittance date.
Due period ended: May 1, 2000
---------------------------------------------------------------------------------------------------
<S> <C>
1 Total Actual Principal Collections 513,455.17
3 Total Actual Interest Collections 724,484.93
4 Less Service Fees Service Fees Previously Remitted 42,193.64
5 Additional Proceeds 0.00
--------------------
6 Total Collections: 1,195,746.46
7 Pre-Funding Account Transfer 0.00
8 Interest Coverage Account Transfer 310,006.40
9 Deferred Interest Coverage Account Transfer 42,073.20
--------------------
10 Aggregate Amount Received: 1,547,826.06
Monthly Advances
11 Monthly Advance 269,293.38
12 Compensating Interest 598.03
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: 1,817,717.47
17 Service Fees on Interest Coverage 20,515.62
18 Expense Account Deposit @ 0.012bp: 1,456.06
--------------------
19 Adjusted Remittance Amount: 1,795,745.79
Remaining Amount Available:
20 Adjusted Remittance Amount 1,795,745.79
21 Insured Payments 0.00
22 Monthly Premium @ 20 bp
due Certificate Insurer 22,958.48
23 Cross Collateral Withdrawal 0.00
24 Class Remittance Amounts 1,772,787.31
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 May 25, 2000, the Remittance date.
Due period ended: May 1, 2000
---------------------------------------------------------------------------------------------------------------------------------
Total Class 2A Equity Certificates
----- -------- -------------------
<S> <C> <C> <C>
31 Loans Outstanding - BOM 964
32 Original Loan Balance 90,127,734.03 90,127,734.03
34 Pre-Funding Account Balance 55,477,822.18 55,477,822.18
35 Initial Overcollateralization 7,341,236.19 7,341,236.19
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 138,264,320.02 138,264,320.02
41 Group Factor per Loan Balance 64.8400964% 64.8400964%
42 Group Factor per Note Balance 99.4707338% 99.4707338%
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 523,074.64 523,074.64
47 Interest Remittance @ Pass-Through Rates 736,257.50 736,257.50
Principal Additions:
48 Number of loans 636 636
49 Transfers from Pre-Funding Account 55,477,168.74 55,477,168.74
Principal Reductions:
50 Prepayments - Number 3 3
51 Prepayments - Dollar 478,659.48 478,659.48
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 34,795.69 34,795.69
57 Pre-Funding Account Transfer 0.00 0.00
-------------------------------------------------------------------------
58 Total Principal Remittance 513,455.17 513,455.17
59 Additional Principal Reduction 523,074.64 523,074.64
-------------------------------------------------------------------------
60 Total Remittance 1,772,787.31 1,772,787.31 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 1597
66 Closing Loan Balance 145,091,447.60 145,091,447.60
67 Pre-Funding Account Balance 653.44 653.44
68 Additional Principal Reduction, LTD 7,864,310.83 7,864,310.83
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 137,227,790.21 137,227,790.21
72 Group Factor per Loan Balance 104.3823364% 104.3823364%
73 Group Factor per Class Note Balance 98.7250289% 98.7250289%
---------------------------------------------------------------------------------------------------------------------------------
</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 May 25, 2000, the Remittance date.
Due period ended: May 1, 2000
---------------------------------------------------------------------------------------------------------------------------------
Total Class A-2
----- ---------
<S> <C> <C> <C>
74 Weighted Note Rate - THIS Remittance 11.15500%
75 Weighted Note Rate - NEXT Remittance 11.15500%
76 Related Remittance Period for Libor Rate 25-Apr-00 thru 24-May-00
77 Days in Related Period 30
78 Pass-Through Rates 6.39000%
79 Weighted Average Remaining Term 356.13
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 7,341,236.19 523,074.64 7,864,310.83
86 Cross Collateral Deposits 0.00 0.00 0.00
87 Realized Losses, LTD 0.00 0.00 0.00
--------------------------------------------------------
88 Overcollateralization of Principal 7,341,236.19 523,074.64 7,864,310.83
========================================================
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 5,683,967.85 397,711.06 6,081,678.91
92 Class 2A Overcollateralization of Principal 7,341,236.19 523,074.64 7,864,310.83
--------------------------------------------------------
93 Overcollateralization of Principal 13,025,204.04 920,785.70 13,945,989.74
========================================================
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 May 25, 2000, the Remittance date.
Due period ended: May 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 736,257.50 736,257.50
106 Interest Rate Factor / 1000 5.296817 5.296817
107 Total Principal Collections 513,455.17 513,455.17
108 Prefunding Account Transfer 0.00 0.00
109 Additional Principal Reduction 523,074.64 523,074.64
---------------------------------------
110 Principal Remittance Amount 1,036,529.81 1,036,529.81
111 Principal Payment Factor/1000 7.457049 7.457049
112 Principal Factor 987.250289 987.250289
113 Prior Month Principal Factor 994.707338 994.707338
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 4
