<PAGE> 1
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)
August 29, 2000
Advanta Conduit Receivables, Inc., as Sponsor
on behalf of Advanta Mortgage Loan Trust 2000-2
(Exact name of registrant as specified in its charter)
Nevada 333-92669-03 88-0360305
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
Attention: General Counsel
10790 Rancho Bernardo Drive
San Diego, California 92127
--------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number,
including area code (858) 676-3099
--------------------------------------------------------------------------------
Advanta Conduit Receivables, Inc.
---------------------------------
(Exact name of registrant as specified in its charter)
Nevada 333-92669 88-0360305
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
--------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
Item 2. Acquisition or Disposition of Assets
Description of the Certificates and the Mortgage Loans
Advanta Conduit Receivables, Inc. (the "Registrant" or the
"Sponsor") registered an issuance of $700,051,007.00 in principal amount of
Mortgage Loan Asset-Backed Certificates on a delayed or continuous basis
pursuant to Rule 415 under the Securities Act of 1933, as amended (the "Act"),
by the Registration Statement on Form S-3 (File No. 333-92669) (the
"Registration Statement").
Pursuant to the Registration Statement, the Sponsor formed Advanta
Mortgage Loan Trust 2000-2 (the "Trust") which issued approximately $649,728,000
in aggregate principal amount of its Mortgage Loan Asset-Backed Certificates
(the "Certificates"), on August 22, 2000 (the "Closing Date").
This Current Report on Form 8-K is being filed to satisfy an
undertaking to file copies of certain agreements executed in connection with the
issuance of the Certificates, the forms of which were filed as Exhibits to the
Registration Statement.
The Certificates were issued pursuant to a Pooling and Servicing
Agreement (the "P&S Agreement") attached hereto as Exhibit 4.1, dated as of
August 1, 2000, among the Sponsor, Advanta Mortgage Corp. USA, as Master
Servicer, and Bankers Trust Company of California, N.A., as Trustee.
The primary asset of the Trust is a pool of sub-prime residential
mortgage loans which were conveyed to the Trust on the Closing Date. As of the
Closing Date, the Mortgage Loans had the characteristics described in the
Prospectus dated December 28, 1999 and the Prospectus Supplement dated August
16, 2000 filed pursuant to Rule 424(b)(5) of the Act with the Commission.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits:
<PAGE> 3
1.1 Underwriting Agreement, dated August 16, 2000, between the
Sponsor and Bear, Stearns & Co Inc., as Representative of the Underwriters.
4.1 Pooling and Servicing Agreement, dated August 1, 2000, among the
Sponsor, Advanta Mortgage Corp. USA, as Master Servicer, and Bankers Trust
Company of California, N.A., as Trustee.
4.2 Certificate Insurance Policy, dated August 22, 2000, and issued
and delivered by Ambac Assurance Corporation.
4.3 Conveyance Agreement, dated August 22, 2000, among Advanta
National Bank, Advanta Bank Corp., Advanta Mortgage Corp. USA, Advanta Mortgage
Corp. Midwest and Advanta Mortgage Receivables, Inc. (collectively, the
"Originators"), the Sponsor, and Bankers Trust Company of California, N.A., as
Trustee.
4.4 Mortgage Loan Transfer Agreement, dated August 1, 2000, among
the Originators, the Sponsor and Bankers Trust Company of California, N.A., as
Trustee.
5.1 Opinion of Dewey Ballantine LLP regarding legality of the
registered securities, dated as of August 22, 2000.*
8.1 Opinion of Dewey Ballantine LLP regarding tax matters, dated as
of August 22, 2000.*
10.1 Indemnification Agreement, dated August 16, 2000, between Bear,
Stearns & Co. Inc., as Representative of the Underwriters (the "Representative")
and Ambac Assurance Corporation, as Certificate Insurer.
10.2 Guaranty, dated August 22, 2000, to Ambac Assurance Corporation
and Bear, Stearns & Co. Inc., as Representative of the Underwriters, issued by
Advanta Mortgage Holding Company.
10.3 Guaranty, dated August 22, 2000, to Ambac Assurance Corporation
and Advanta Mortgage Loan Trust 2000-2 issued by Advanta Mortgage Holding
Company.
23.1 Consent of KPMG Inc. regarding financial statements of
Ambac Assurance Corporation, and their report.*
* Previously filed on Form 8-K filed with the Securities and
Exchange Commission.
<PAGE> 4
SIGNATURES
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.
ADVANTA CONDUIT RECEIVABLES, INC.
By: /s/ Michael Coco
--------------------------------------------
Name: Michael Coco
Title: Vice President
ADVANTA CONDUIT RECEIVABLES, INC.,
as Sponsor on behalf of Advanta Mortgage Loan
Trust 2000-2
By: /s/ Michael Coco
--------------------------------------------
Name: Michael Coco
Title: Vice President
Dated: August 29, 2000
<PAGE> 5
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Description
----------- -----------
<S> <C>
1.1 Underwriting Agreement, dated August 16, 2000, between the Sponsor
and Bear, Stearns & Co Inc., as Representative of the Underwriters.
4.1 Pooling and Servicing Agreement, dated August 1, 2000, among the
Sponsor, Advanta Mortgage Corp. USA, as Master Servicer, and
Bankers Trust Company of California, N.A., as Trustee.
4.2 Certificate Insurance Policy, dated August 22, 2000, and issued and
delivered by Ambac Assurance Corporation.
4.3 Conveyance Agreement, dated August 1, 2000, among Advanta
National Bank, Advanta Bank Corp., Advanta Mortgage Corp.
USA, Advanta Mortgage Corp. Midwest and Advanta Mortgage
Receivables, Inc. (collectively, the "Originators"), the
Sponsor, and Bankers Trust Company of California, N.A., as
Trustee.
4.4 Mortgage Loan Transfer Agreement, dated August 1, 2000,
among the Originators, the Sponsor and Bankers Trust Company
of California, N.A., as Trustee.
10.1 Indemnification Agreement, dated August 16, 2000, between Bear,
Stearns & Co. Inc., as Representative of the Underwriters (the
"Representative") and Ambac Assurance Corporation, as Certificate
Insurer.
10.2 Guaranty, dated August 22, 2000, to Ambac Assurance
Corporation and Bear, Stearns & Co. Inc., as Representative
of the Underwriters, issued by Advanta Mortgage Holding
Company.
10.3 Guaranty, dated August 22, 2000, to Ambac Assurance Corporation and
Advanta Mortgage Loan Trust 2000-2 issued by Advanta Mortgage
Holding Company.
</TABLE>
* Previously filed on Form 8-K filed with the Securities and
Exchange Commission.
