EXHIBIT 20.3
<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 June 26, 2000, the Remittance date.
Due period ended: June 1, 2000
----------------------------------------------------------------------------------------------------
<S> <C>
1 Total Actual Principal Collections 452,811.56
2 Total Permanent Buydown Companion Interest 6,151.25
3 Total Actual Interest Collections 712,552.08
4 Less Service Fees Service Fees Previously Remitted 23,630.95
5 Additional Proceeds 0.00
--------------------
6 Total Collections: 1,147,883.94
7 Pre-Funding Account Transfer 7,730.85
8 Interest Coverage Account Transfer 73.22
9 Deferred Interest Coverage Account Transfer 70,912.53
--------------------
10 Aggregate Amount Received: 1,226,600.54
Monthly Advances
11 Monthly Advance 197,543.85
12 Compensating Interest 1,648.72
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: 1,425,793.11
17 Service Fees 4,059.90
18 Expense Account Deposit @ 0.012 bp: 1,043.20
--------------------
19 Adjusted Remittance Amount: 1,420,690.01
Remaining Amount Available:
20 Adjusted Remittance Amount 1,420,690.01
21 Insured Payments 0.00
22 Monthly Premium @ 20 bp
due Certificate Insurer 16,296.27
23 Cross Collateral Withdrawal 0.00
24 Class Remittance Amounts 1,404,393.74
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 June 26, 2000, the Remittance date.
Due period ended: June 1, 2000
----------------------------------------------------------------------------------------------------------------------------------
Total Class 1A Equity Certificate
----- -------- ------------------
<S> <C> <C> <C>
31 Loans Outstanding - BOM 1811
32 Original Loan Balance 104,312,127.24 104,312,127.24
34 Pre-Funding Account Balance 7,730.85 7,730.85
35 Initial Overcollateralization 6,081,678.90 6,081,678.90
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 98,238,179.19 98,238,179.19
41 Group Factor per Loan Balance 104.3121272% 104.3121272%
42 Group Factor per Class Note Balance 98.2381792% 98.2381792%
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 337,830.92 337,830.92
47 Interest Remittance @ Pass-Through Rates 606,020.41 606,020.41
Principal Additions:
48 Number of loans 0 0
49 Transfers from Pre-Funding Account 0.00 0.00
Principal Reductions:
50 Prepayments - Number 7 7
51 Prepayments - Dollar 318,385.86 318,385.86
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 40,221.91 40,221.91
56 Normal and Excess Payments 94,203.79 94,203.79
57 Pre-Funding Account Transfer 7,730.85 7,730.85
-------------------------------------------------------------------------
58 Total Principal Remittance 460,542.41 460,542.41
59 Additional Principal Reduction 337,830.92 337,830.92
-------------------------------------------------------------------------
60 Total Remittance 1,404,393.74 1,404,393.74 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 1804
65 Closing Loan Balance 103,859,315.68 103,859,315.68
67 Pre-Funding Account Balance 0.00 0.00
68 Additional Principal Reduction, LTD 6,419,509.82 6,419,509.82
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 97,439,805.86 97,439,805.86
74 Group Factor per Loan Balance 103.8593157% 103.8593157%
75 Group Factor per Class Note Balance 97.4398059% 97.4398059%
----------------------------------------------------------------------------------------------------------------------------------
</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 June 26, 2000, the Remittance date.
Due period ended: June 1, 2000
---------------------------------------------------------------------------------------------------------------
Total Class A-1
----- ---------
<S> <C> <C> <C>
76 Weighted Note Rate - THIS Remittance 11.36500%
77 Weighted Note Rate - NEXT Remittance 11.43374%
78 Related Remittance Period for Libor Rate 25-May-00 thru 25-Jun-00
79 Days in Related Period 32
80 Pass-Through Rates 6.94000%
81 Weighted Average Remaining Term 254.51
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 6,081,678.90 337,830.92 6,419,509.82
89 Cross Collateral Deposits 0.00 0.00 0.00
90 Realized Losses, LTD 0.00 0.00 0.00
--------------------------------------------------------
92 Overcollateralization of Principal 6,081,678.90 337,830.92 6,419,509.82
========================================================
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 6,081,678.90 337,830.92 6,419,509.82
96 Class 2A Overcollateralization of Principal 7,864,310.83 431,942.36 8,296,253.19
--------------------------------------------------------
97 Overcollateralization of Principal 13,945,989.73 769,773.28 14,715,763.01
========================================================
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 June 26, 2000, the Remittance date.
Due period ended: June 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 606,020.41 606,020.41
110 Interest Rate Factor / 1000 6.060204 6.060204
111 Total Principal Collections 452,811.56 452,811.56
112 Prefunding Account Transfer 7,730.85 7,730.85
113 Additional Principal Reduction 337,830.92 337,830.92
---------------------------------------
114 Principal Remittance Amount 798,373.33 798,373.33
115 Principal Payment Factor/1000 7.983733 7.983733
116 Principal Factor 974.398059 974.398059
117 Prior Month Principal Factor 982.381792 982.381792
---------------------------------------------------------------------------------------------------------------
</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 June 26, 2000, the Remittance date.
Due period ended: June 1, 2000
----------------------------------------------------------------------------------------------------
<S> <C>
1 Total Actual Principal Collections 963,874.51
3 Total Actual Interest Collections 921,257.21
4 Less Service Fees Service Fees Previously Remitted 53,413.63
5 Additional Proceeds 0.00
--------------------
6 Total Collections: 1,831,718.09
7 Pre-Funding Account Transfer 653.44
8 Interest Coverage Account Transfer 6.07
9 Deferred Interest Coverage Account Transfer 37,958.95
--------------------
10 Aggregate Amount Received: 1,870,336.55
Monthly Advances
11 Monthly Advance 384,683.54
12 Compensating Interest 3,388.67
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: 2,258,408.76
17 Service Fees on Interest Coverage 2,212.22
18 Expense Account Deposit @ 0.012bp: 1,450.92
--------------------
19 Adjusted Remittance Amount: 2,254,745.62
Remaining Amount Available:
20 Adjusted Remittance Amount 2,254,745.62
21 Insured Payments 0.00
22 Monthly Premium @ 20 bp
due Certificate Insurer 22,710.54
23 Cross Collateral Withdrawal 0.00
24 Class Remittance Amounts 2,232,035.08
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 June 26, 2000, the Remittance date.
Due period ended: June 1, 2000
----------------------------------------------------------------------------------------------------------------------------------
Total Class 2A Equity Certificates
----- -------- -------------------
<S> <C> <C> <C>
31 Loans Outstanding - BOM 1597
32 Original Loan Balance 145,091,447.60 145,091,447.60
34 Pre-Funding Account Balance 653.44 653.44
35 Initial Overcollateralization 7,864,310.83 7,864,310.83
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 137,227,790.21 137,227,790.21
41 Group Factor per Loan Balance 104.3823364% 104.3823364%
42 Group Factor per Note Balance 98.7250289% 98.7250289%
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 431,942.36 431,942.36
47 Interest Remittance @ Pass-Through Rates 835,564.77 835,564.77
Principal Additions:
48 Number of loans 0 0
49 Transfers from Pre-Funding Account 0.00 0.00
Principal Reductions:
50 Prepayments - Number 6 6
51 Prepayments - Dollar 897,726.54 897,726.54
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 20,000.00 20,000.00
56 Normal and Excess Payments 46,147.97 46,147.97
57 Pre-Funding Account Transfer 653.44 653.44
-------------------------------------------------------------------------
58 Total Principal Remittance 964,527.95 964,527.95
59 Additional Principal Reduction 431,942.36 431,942.36
-------------------------------------------------------------------------
60 Total Remittance 2,232,035.08 2,232,035.08 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 1591
66 Closing Loan Balance 144,127,573.09 144,127,573.09
67 Pre-Funding Account Balance (0.00) (0.00)
68 Additional Principal Reduction, LTD 8,296,253.19 8,296,253.19
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 135,831,319.90 135,831,319.90
72 Group Factor per Loan Balance 103.6889015% 103.6889015%
73 Group Factor per Class Note Balance 97.7203740% 97.7203740%
----------------------------------------------------------------------------------------------------------------------------------
</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 June 26, 2000, the Remittance date.
Due period ended: June 1, 2000
------------------------------------------------------------------------------------------------------------------
Total Class A-2
----- ---------
<S> <C> <C> <C>
74 Weighted Note Rate - THIS Remittance 11.15500%
75 Weighted Note Rate - NEXT Remittance 11.33581%
76 Related Remittance Period for Libor Rate 25-May-00 thru 25-Jun-00
77 Days in Related Period 32
78 Pass-Through Rates 6.85000%
79 Weighted Average Remaining Term 355.12
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 7,864,310.83 431,942.36 8,296,253.19
86 Cross Collateral Deposits 0.00 0.00 0.00
87 Realized Losses, LTD 0.00 0.00 0.00
--------------------------------------------------------
88 Overcollateralization of Principal 7,864,310.83 431,942.36 8,296,253.19
========================================================
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 6,081,678.91 337,830.92 6,419,509.83
92 Class 2A Overcollateralization of Principal 7,864,310.83 431,942.36 8,296,253.19
--------------------------------------------------------
93 Overcollateralization of Principal 13,945,989.74 769,773.28 14,715,763.02
========================================================
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 June 26, 2000, the Remittance date.
Due period ended: June 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 835,564.77 835,564.77
106 Interest Rate Factor / 1000 6.011257 6.011257
107 Total Principal Collections 963,874.51 963,874.51
108 Prefunding Account Transfer 653.44 653.44
109 Additional Principal Reduction 431,942.36 431,942.36
---------------------------------------
110 Principal Remittance Amount 1,396,470.31 1,396,470.31
111 Principal Payment Factor/1000 10.046549 10.046549
112 Principal Factor 977.203740 977.203740
113 Prior Month Principal Factor 987.250289 987.250289
----------------------------------------------------------------------------------------------------
</TABLE>
