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Previous: US WATS INC, SC 13D/A, 1999-07-28 |
Next: OPPENHEIMER QUEST GLOBAL VALUE FUND INC, NSAR-A, 1999-07-28 |
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): July 15, 1999
DELTA FUNDING CORPORATION
Home Equity Loan Asset-Backed Certs., Series 1999-1 Trust
New York (governing law of 333-03418 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 July 15, 1999 a distribution was made to holders of DELTA FUNDING
CORPORATION, Home Equity Loan Asset-Backed Certs., Series 1999-1 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 Certs.,
Series 1999-1 Trust, relating to the July
15, 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.
DELTA FUNDING CORPORATION
Home Equity Loan Asset-Backed Certs., Series 1999-1 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 7/27/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Home Equity Loan
Asset-Backed Certs., Series 1999-1 Trust, relating to the July
15, 1999 distribution.
<TABLE>
<CAPTION>
Delta Funding Corporation
Mortgage Pass-Through Certificates
Record Date: 6/30/99
Distribution Date: 7/15/99
DFH Series: 1999-1
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-1F 24763LEW6 SEN_FI 5.81000% 85,485,633.13 413,892.94 2,852,026.45
A-2F 24763LEX4 SEN_FI 5.98000% 71,700,000.00 357,305.00 0.00
A-3F 24763LEY2 SEN_FI 6.13000% 34,800,000.00 177,770.00 0.00
A-4F 24763LEZ9 SEN_FI 6.39000% 52,100,000.00 277,432.50 0.00
A-5F 24763LFA3 SEN_FI 6.81000% 25,750,000.00 146,131.25 0.00
A-6F 24763LFB1 SEN_FI 6.34000% 32,000,000.00 169,066.67 0.00
IOF 24763LFC9 SEN_NT 6.00000% 0.00 621,000.00 0.00
A-1A 24763LFD7 SEN_FI 5.26750% 42,746,555.32 187,639.57 507,847.92
A-2A 24763LFE5 SEN_FI 5.95000% 11,000,000.00 54,541.67 0.00
B 24763LFF2 JUN_FI 6.80000% 11,250,000.00 63,750.00 0.00
BIO DFH991BIO JUN_FI 0.00000% 0.00 0.00 0.00
OC DFH9901OC SEN_FI 0.00000% 0.00 0.00 0.00
R-1 DFH9901R1 JUN_RE 0.00000% 0.00 0.00 0.00
R-2 DFH9901R2 JUN_RE 0.00000% 0.00 0.00 0.00
R-3 DFH9901R3 JUN_RE 0.00000% 0.00 0.00 0.00
Totals 366,832,188.45 2,468,529.60 3,359,874.37
</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-1F 0.00 82,633,606.67 3,265,919.39 0.00
A-2F 0.00 71,700,000.00 357,305.00 0.00
A-3F 0.00 34,800,000.00 177,770.00 0.00
A-4F 0.00 52,100,000.00 277,432.50 0.00
A-5F 0.00 25,750,000.00 146,131.25 0.00
A-6F 0.00 32,000,000.00 169,066.67 0.00
IOF 0.00 0.00 621,000.00 0.00
A-1A 0.00 42,238,707.40 695,487.49 0.00
A-2A 0.00 11,000,000.00 54,541.67 0.00
B 0.00 11,250,000.00 63,750.00 0.00
BIO 0.00 0.00 0.00 0.00
OC 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00
Totals 0.00 363,472,314.07 5,828,403.97 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
Edward M. Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
</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-1F 92,400,000.00 85,485,633.13 0.00 2,852,026.45 0.00 0.00
A-2F 71,700,000.00 71,700,000.00 0.00 0.00 0.00 0.00
A-3F 34,800,000.00 34,800,000.00 0.00 0.00 0.00 0.00
A-4F 52,100,000.00 52,100,000.00 0.00 0.00 0.00 0.00
A-5F 25,750,000.00 25,750,000.00 0.00 0.00 0.00 0.00
A-6F 32,000,000.00 32,000,000.00 0.00 0.00 0.00 0.00
IOF 0.00 0.00 0.00 0.00 0.00 0.00
A-1A 44,000,000.00 42,746,555.32 0.00 507,847.92 0.00 0.00
A-2A 11,000,000.00 11,000,000.00 0.00 0.00 0.00 0.00
B 11,250,000.00 11,250,000.00 0.00 0.00 0.00 0.00
BIO 0.00 0.00 0.00 0.00 0.00 0.00
OC 0.00 0.00 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00 0.00
Totals 375,000,000.00 366,832,188.45 0.00 3,359,874.37 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-1F 2,852,026.45 82,633,606.67 0.89430310 2,852,026.45
A-2F 0.00 71,700,000.00 1.00000000 0.00
A-3F 0.00 34,800,000.00 1.00000000 0.00
A-4F 0.00 52,100,000.00 1.00000000 0.00
A-5F 0.00 25,750,000.00 1.00000000 0.00
A-6F 0.00 32,000,000.00 1.00000000 0.00
IOF 0.00 0.00 0.00000000 0.00
A-1A 507,847.92 42,238,707.40 0.95997062 507,847.92
A-2A 0.00 11,000,000.00 1.00000000 0.00
B 0.00 11,250,000.00 1.00000000 0.00
BIO 0.00 0.00 0.00000000 0.00
OC 0.00 0.00 0.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
R-3 0.00 0.00 0.00000000 0.00
Totals 3,359,874.37 363,472,314.07 0.96925950 3,359,874.37
</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-1F 92,400,000.00 925.16918972 0.00000000 30.86608712 0.00000000
A-2F 71,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3F 34,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4F 52,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5F 25,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-6F 32,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
IOF 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1A 44,000,000.00 971.51262091 0.00000000 11.54199818 0.00000000
A-2A 11,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 11,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
BIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All denominations are Per $1,000.
</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-1F 0.00000000 30.86608712 894.30310249 0.89430310 30.86608712
A-2F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-3F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-4F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-5F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-6F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
IOF 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1A 0.00000000 11.54199818 959.97062273 0.95997062 11.54199818
A-2A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<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-1F 92,400,000.00 5.81000% 85,485,633.13 413,892.94 0.00 0.00
A-2F 71,700,000.00 5.98000% 71,700,000.00 357,305.00 0.00 0.00
A-3F 34,800,000.00 6.13000% 34,800,000.00 177,770.00 0.00 0.00
A-4F 52,100,000.00 6.39000% 52,100,000.00 277,432.50 0.00 0.00
A-5F 25,750,000.00 6.81000% 25,750,000.00 146,131.25 0.00 0.00
A-6F 32,000,000.00 6.34000% 32,000,000.00 169,066.67 0.00 0.00
IOF 0.00 6.00000% 124,200,000.00 621,000.00 0.00 0.00
A-1A 44,000,000.00 5.26750% 42,746,555.32 187,639.57 0.00 0.00
A-2A 11,000,000.00 5.95000% 11,000,000.00 54,541.67 0.00 0.00
B 11,250,000.00 6.80000% 11,250,000.00 63,750.00 0.00 0.00
BIO 0.00 0.00000% 0.00 0.00 0.00 0.00
OC 0.00 0.00000% 0.00 0.00 0.00 0.00
R-1 0.00 0.00000% 0.00 0.00 0.00 0.00
R-2 0.00 0.00000% 0.00 0.00 0.00 0.00
R-3 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 375,000,000.00 2,468,529.60 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-1F 0.00 0.00 413,892.94 0.00 82,633,606.67
A-2F 0.00 0.00 357,305.00 0.00 71,700,000.00
A-3F 0.00 0.00 177,770.00 0.00 34,800,000.00
A-4F 0.00 0.00 277,432.50 0.00 52,100,000.00
A-5F 0.00 0.00 146,131.25 0.00 25,750,000.00
A-6F 0.00 0.00 169,066.67 0.00 32,000,000.00
IOF 0.00 0.00 621,000.00 0.00 124,200,000.00
A-1A 0.00 0.00 187,639.57 0.00 42,238,707.40
A-2A 0.00 0.00 54,541.67 0.00 11,000,000.00
B 0.00 0.00 63,750.00 0.00 11,250,000.00
BIO 0.00 0.00 0.00 0.00 0.00
OC 0.00 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 2,468,529.60 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-1F 92,400,000.00 5.81000% 925.16918972 4.47936082 0.00000000 0.00000000
A-2F 71,700,000.00 5.98000% 1000.00000000 4.98333333 0.00000000 0.00000000
A-3F 34,800,000.00 6.13000% 1000.00000000 5.10833333 0.00000000 0.00000000
A-4F 52,100,000.00 6.39000% 1000.00000000 5.32500000 0.00000000 0.00000000
A-5F 25,750,000.00 6.81000% 1000.00000000 5.67500000 0.00000000 0.00000000
A-6F 32,000,000.00 6.34000% 1000.00000000 5.28333344 0.00000000 0.00000000
IOF 0.00 6.00000% 957.59444873 4.78797224 0.00000000 0.00000000
A-1A 44,000,000.00 5.26750% 971.51262091 4.26453568 0.00000000 0.00000000
A-2A 11,000,000.00 5.95000% 1000.00000000 4.95833364 0.00000000 0.00000000
B 11,250,000.00 6.80000% 1000.00000000 5.66666667 0.00000000 0.00000000
BIO 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All denominations are Per $1,000
</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-1F 0.00000000 0.00000000 4.47936082 0.00000000 894.30310249
A-2F 0.00000000 0.00000000 4.98333333 0.00000000 1000.00000000
A-3F 0.00000000 0.00000000 5.10833333 0.00000000 1000.00000000
A-4F 0.00000000 0.00000000 5.32500000 0.00000000 1000.00000000
A-5F 0.00000000 0.00000000 5.67500000 0.00000000 1000.00000000
A-6F 0.00000000 0.00000000 5.28333344 0.00000000 1000.00000000
IOF 0.00000000 0.00000000 4.78797224 0.00000000 957.59444873
A-1A 0.00000000 0.00000000 4.26453568 0.00000000 959.97062273
A-2A 0.00000000 0.00000000 4.95833364 0.00000000 1000.00000000
B 0.00000000 0.00000000 5.66666667 0.00000000 1000.00000000
BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<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 Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Rate Balance Balance Balance Balance Percentage
Class
<S> <C> <C> <C> <C> <C> <C>
MBIA 1,200.00000% 31,113.44 30,819.46 0.00 0.00 96.83091556%
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Account Statement
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 6,017,856.41
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 6,017,856.41
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 189,452.44
Payment of Interest and Principal 5,828,403.97
Total Withdrawals (Pool Distribution Amount) 6,017,856.41
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 1,680.20
Servicing Fee Support 1,680.20
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 155,417.50
Trustee Fee - Norwest Bank 4,601.70
Supported Prepayment/Curtailment Interest Shortfall 1,680.20
Net Servicing Fee 158,339.00
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Financial Guaranty 0.00 0.00 0.00 0.00
Financial Guaranty 0.00 0.00 0.00 0.00
Reserve Fund 5,000.00 0.00 0.00 5,000.00
Reserve Fund 5,000.00 0.00 0.00 5,000.00
</TABLE>
<TABLE>
<CAPTION>
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 165 11,980,451.18 3.770567% 3.279562%
60 Days 66 4,852,118.53 1.508227% 1.328233%
90+ Days 59 4,369,394.38 1.348263% 1.196090%
Foreclosure 1 69,811.27 0.022852% 0.019110%
REO 0 0.00 0.000000% 0.000000%
Totals 291 21,271,775.36 6.649909% 5.822996%
</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
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 9.891527%
Weighted Average Net Coupon 9.891527%
Weighted Average Pass-Through Rate 9.876527%
Weighted Average Maturity(Stepdown Calculation ) 0
Begin Scheduled Collateral Loan Count 4,415
Number Of Loans Paid In Full 39
Ending Scheduled Collateral Loan Count 4,376
Begining Scheduled Collateral Balance 368,135,986.30
Ending Scheduled Collateral Balance 365,306,389.61
Ending Actual Collateral Balance at 30-Jun-1999 365,311,068.48
Monthly P &I Constant 3,257,735.70
Ending Scheduled Balance for Premium Loans 365,306,389.61
Required Overcollateralized Amount 0.00
Overcollateralized Increase Amount 530,277.68
Overcollateralized reduction Amount 0.00
Specified O/C Amount 6,000,000.00
Overcollateralized Amount 1,834,075.54
Overcollateralized Deficiency Amount 4,696,202.14
Base Overcollateralization Amount 6,000,000.00
Extra principal distribution Amount 530,277.68
Excess Cash Amount 530,277.68
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Group F Excess Interest $330,395.09
Group A Excess Interest $199,882.58
Group F Curtailments ($2,331.06)
Group A Curtailments ($19.52)
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2 Total
Collateral Description Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 9.879912 9.959219
Weighted Average Net Rate 9.864912 9.944219
Weighted Average Maturity 324.00 355.00
Beginning Loan Count 3,797 618 4,415
Loans Paid In Full 34 5 39
Ending Loan Count 3,763 613 4,376
Beginning Scheduled Balance 314,223,256.85 53,912,729.45 368,135,986.30
Ending scheduled Balance 311,741,480.05 53,564,909.56 365,306,389.61
Record Date 6/30/99 6/30/99
Principal And Interest Constant 2,795,756.36 461,979.34 3,257,735.70
Scheduled Principal 208,674.50 14,538.79 223,213.29
Unscheduled Principal 2,273,102.30 333,281.10 2,606,383.40
Scheduled Interest 2,587,081.86 447,440.55 3,034,522.41
Servicing Fees 0.00 0.00 0.00
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 3,927.79 673.91 4,601.70
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 2,583,154.07 446,766.64 3,029,920.71
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cummulative Loss 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C> <C> <C> <C> <C> <C>
Group
30 Days 60 Days 90 + Days Foreclosure REO Bankruptcy
1 Principal Balance 9,385,065.88 3,657,159.00 3,457,053.31 69,811.27 0.00 393,605.75
Percentage Of Balance 3.011% 1.173% 1.109% 0.022% 0.000% 0.126%
Loan Count 135 54 46 1 0 6
Percentage Of Loans 3.588% 1.435% 1.222% 0.027% 0.000% 0.159%
2 Principal Balance 2,595,385.30 1,194,959.53 912,341.07 0.00 0.00 130,485.62
Percentage Of Balance 4.845% 2.231% 1.703% 0.000% 0.000% 0.244%
Loan Count 30 12 14 0 0 2
Percentage Of Loans 4.894% 1.958% 2.284% 0.000% 0.000% 0.326%
Totals
Principal Balance 11,980,451.18 4,852,118.53 4,369,394.38 69,811.27 0.00 524,091.37
Percentage Of Balance 3.280% 1.328% 1.196% 0.019% 0.000% 0.143%
Loan Count 165 66 60 1 0 8
Percentage Of Loans 3.771% 1.508% 1.371% 0.023% 0.000% 0.183%
</TABLE>
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