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UNITED STATES
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): November 26, 1999
PROVIDENT BANK HOME EQUITY LOAN TRUST
Home Equity Loan Asset-Backed Notes, Series 1999-A
New York (governing law of 333-81675 Pending
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway 21044
Columbia, MD (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
Former name or former address, if changed since last report)
ITEM 5. Other Events
On November 26, 1999 a distribution was made to holders of PROVIDENT
BANK HOME EQUITY LOAN TRUST, Home Equity Loan Asset-Backed Notes,
Series 1999-A Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of
Regulation S-K
Exhibit Number Description
Monthly report distributed to holders of
EX-99.1 Home Equity Loan Asset-Backed Notes,
Series 1999-A Trust, relating to the
November 26, 1999 distribution.
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 hereunto duly authorized.
PROVIDENT BANK HOME EQUITY LOAN TRUST
Home Equity Loan Asset-Backed Notes, Series 1999-A
By: Norwest Bank Minnesota, N.A., as Administrator
By: /s/ Sherri Sharps, Vice President
By: Sherri Sharps, Vice President
Date: 12/01/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of PROVIDENT
BANK Home Equity Loan Asset-Backed Notes, Series 1999-A Trust,
relating to the November 26, 1999 distribution.
<TABLE>
<CAPTION>
The Provident Bank
Mortgage Pass-Through Certificates
Record Date: 10/31/99
Distribution Date: 11/26/99
PROVIDENT Series: 1999-A
Contact: Customer Service
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 846-8130
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
A 743844CX8 SEQ 5.83875% 168,300,000.00 846,180.84 427,837.12
TRANSFER PROVID99 SEQ 0.00000% 2,188,600.51 215,317.55 1,749,507.74
Totals 170,488,600.51 1,061,498.39 2,177,344.86
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
A 0.00 167,872,162.88 1,274,017.96 0.00
TRANSFER 0.00 2,188,600.51 1,964,825.29 0.00
Totals 0.00 170,060,763.39 3,238,843.25 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
A 168,300,000.00 168,300,000.00 0.00 427,837.12 0.00 0.00
TRANSFER 1,700,000.00 2,188,600.51 0.00 1,749,507.74 0.00 0.00
Totals 170,000,000.00 170,488,600.51 0.00 2,177,344.86 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
A 427,837.12 167,872,162.88 0.99745789 427,837.12
TRANSFER 1,749,507.74 2,188,600.51 1.28741206 1,749,507.74
Totals 2,177,344.86 170,060,763.39 1.00035743 2,177,344.86
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
A 168,300,000.00 1000.00000000 0.00000000 2.54211004 0.00000000
TRANSFER 1,700,000.00 1287.41206471 0.00000000 1029.12220000 0.00000000
<FN>
(2) Per $1,000 denomination.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
A 0.00000000 2.54211004 997.45788996 0.99745789 2.54211004
TRANSFER 0.00000000 1029.12220000 1,287.41206471 1.28741206 1029.12220000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A 168,300,000.00 5.83875% 168,300,000.00 846,180.84 0.00 0.00
TRANSFER 1,700,000.00 0.00000% 2,188,600.51 0.00 0.00 0.00
Totals 170,000,000.00 846,180.84 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A 0.00 0.00 846,180.84 0.00 167,872,162.88
TRANSFER 0.00 0.00 215,317.55 0.00 2,188,600.51
Totals 0.00 0.00 1,061,498.39 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A 168,300,000.00 5.83875% 1000.00000000 5.02781248 0.00000000 0.00000000
TRANSFER 1,700,000.00 0.00000% 1287.41206471 0.00000000 0.00000000 0.00000000
<FN>
(5) Per $1,000 denomination.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A 0.00000000 0.00000000 5.02781248 0.00000000 997.45788996
TRANSFER 0.00000000 0.00000000 126.65738235 0.00000000 1287.41206471
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 3,306,569.69
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 3,306,569.69
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 53,702.44
Payment of Interest and Principal 3,252,867.25
Total Withdrawals (Pool Distribution Amount) 3,306,569.69
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 52,744.60
Trustee Fee 791.17
Owner Trustee Fee 166.67
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 53,702.44
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Reserve Fund 0.00 0.00 0.00 0.00
Financial Guaranty 0.00 0.00 0.00 0.00
Reserve Fund 10,200,000.00 0.00 0.00 10,200,000.00
</TABLE>
<TABLE>
<CAPTION> CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 20 387,183.00 0.448029% 0.227673%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 20 387,183.00 0.448029% 0.227673%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Principal Balance of Contaminated Properties 0.00
Current Period Class A Insufficient Funds 0.00
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 9.500000%
Weighted Average Net Coupon 8.992500%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity(Stepdown Calculation ) 321
Beginning Scheduled Collateral Loan Count 4,468
Number Of Loans Paid In Full 4
Ending Scheduled Collateral Loan Count 4,464
Beginning Scheduled Collateral Balance 170,488,600.51
Ending Scheduled Collateral Balance 170,060,763.39
Ending Actual Collateral Balance at 31-Oct-1999 126,153,137.29
Monthly P &I Constant 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
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