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Previous: HOMESIDE MORTGAGE SECURITIES INC /DE/, S-3, 1998-04-09 |
Next: AER ENERGY RESOURCES INC /GA, DEF 14A, 1998-04-09 |
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): March 25, 1998
Homeside Mortgage Securities, Inc.
Multi-Class Mortgage Pass-Through Certificates, Series 1998-1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 033-34957 52-2081749
Pooling and Servicing Agreement) (Commission (I.R.S. Employer
(State or other File Number) Identification No.)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
7485 New Horizon Way
Frederick, Maryland 21703
(Address of principal executive offices) (Zip Code)
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 March 25, 1998 a distribution was made to holders of Homeside Mortgage
Securities Inc., Multi-Class Mortgage Pass-Through Certificates, Series 1998-1
Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Multi-Class
Mortgage Pass-Through Certificates, Series 1998-1 Trust,
relating to the March 25, 1998 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.
Homeside Mortgage Securities, Inc.
Multi-Class Mortgage Pass-Through Certificates, Series 1998-1 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 4/07/98
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Multi-Class Mortgage
Pass-Through Certificates, Series 1998-1 Trust, relating to the
March 25, 1998 distribution.
<TABLE>
<CAPTION>
Homeside Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 2/27/98
Distribution Date: 3/25/98
HMS Series: 1998-1
Contact: Customer Service - Columbia, MD
Norwest Bank Minnesota, N.A.
Securities Administration Services
11000 Broken Land Parkway
Columbia, MD 21044
Telephone: (410) 884-2173
Fax: (410) 884-2369
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-1 437609AA8 SEQ 6.75000% 173,533,972.09 976,128.59 7,964,819.40
A-2 437609AB6 SEQ 6.75000% 40,501,000.00 227,818.12 0.00
A-3 437609AC4 SEQ 6.75000% 11,012,000.00 61,942.50 0.00
A-4 437609AD2 SEQ 6.75000% 37,328,133.00 209,970.75 0.00
A-5 437609AE0 PAC 6.65000% 74,799,319.24 414,512.89 2,761,892.62
A-6 437609AF7 TAC 6.75000% 23,954,379.00 134,743.38 0.00
A-7 437609AG5 SEQ 6.75000% 4,565,438.14 25,680.59 1,671,927.42
A-8 437609AH3 SEQ 8.50000% 3,438,566.26 24,356.51 157,822.47
A-9 437609AJ9 IO 6.75000% 0.00 1,218.70 0.00
A-10 437609AK6 PAC 6.75000% 1,049,002.00 5,900.64 0.00
A-R 437609AL4 R 6.75000% 0.00 0.00 0.00
AP 437609AU4 PO 0.00000% 1,330.82 0.00 1.57
AX 437609AM2 IO 6.75000% 0.00 251,965.00 0.00
M 437609AN0 SUB 6.75000% 8,180,909.00 46,017.61 6,025.42
B-1 437609AP5 SUB 6.75000% 3,311,319.57 18,626.17 2,438.86
B-2 437609AQ3 SUB 6.75000% 1,753,051.71 9,860.92 1,291.16
B-3 437609AR1 SUB 6.75000% 1,363,485.00 7,669.60 1,004.24
B-4 437609AS9 SUB 6.75000% 973,917.29 5,478.28 717.31
B-5 437609AT7 SUB 6.75000% 973,918.47 5,478.29 717.31
Totals 386,739,741.59 2,427,368.54 12,568,657.78
</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-1 $0.00 $165,569,152.69 $8,940,947.99 $0.00
A-2 $0.00 $40,501,000.00 $227,818.12 $0.00
A-3 $0.00 $11,012,000.00 $61,942.50 $0.00
A-4 $0.00 $37,328,133.00 $209,970.75 $0.00
A-5 $0.00 $72,037,426.62 $3,176,405.51 $0.00
A-6 $0.00 $23,954,379.00 $134,743.38 $0.00
A-7 $0.00 $2,893,510.72 $1,697,608.01 $0.00
A-8 $0.00 $3,280,743.80 $182,178.98 $0.00
A-9 $0.00 $0.00 $1,218.70 $0.00
A-10 $0.00 $1,049,002.00 $5,900.64 $0.00
A-R $0.00 $0.00 $0.00 $0.00
AP $0.00 $1,329.25 $1.57 $0.00
AX $0.00 $0.00 $251,965.00 $0.00
M $0.00 $8,174,883.58 $52,043.03 $0.00
B-1 $0.00 $3,308,880.71 $21,065.03 $0.00
B-2 $0.00 $1,751,760.55 $11,152.08 $0.00
B-3 $0.00 $1,362,480.76 $8,673.84 $0.00
B-4 $0.00 $973,199.97 $6,195.59 $0.00
B-5 $0.00 $973,201.15 $6,195.60 $0.00
Totals $0.00 $374,171,083.80 $14,996,026.32 $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-1 175,500,000.00 173,533,972.09 172,945.63 7,791,873.76 0.00 0.00
A-2 40,501,000.00 40,501,000.00 0.00 0.00 0.00 0.00
A-3 11,012,000.00 11,012,000.00 0.00 0.00 0.00 0.00
A-4 37,328,133.00 37,328,133.00 0.00 0.00 0.00 0.00
A-5 75,481,062.00 74,799,319.24 59,970.89 2,701,921.73 0.00 0.00
A-6 23,954,379.00 23,954,379.00 0.00 0.00 0.00 0.00
A-7 4,978,135.00 4,565,438.14 36,303.72 1,635,623.70 0.00 0.00
A-8 3,477,523.00 3,438,566.26 3,426.91 154,395.56 0.00 0.00
A-9 0.00 0.00 0.00 0.00 0.00 0.00
A-10 1,049,002.00 1,049,002.00 0.00 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00
AP 1,332.08 1,330.82 1.27 0.30 0.00 0.00
AX 0.00 0.00 0.00 0.00 0.00 0.00
M 8,186,879.00 8,180,909.00 6,025.42 0.00 0.00 0.00
B-1 3,313,736.00 3,311,319.57 2,438.86 0.00 0.00 0.00
B-2 1,754,331.00 1,753,051.71 1,291.16 0.00 0.00 0.00
B-3 1,364,480.00 1,363,485.00 1,004.24 0.00 0.00 0.00
B-4 974,628.00 973,917.29 717.31 0.00 0.00 0.00
B-5 974,629.18 973,918.47 717.31 0.00 0.00 0.00
Totals $389,851,349.26 $386,739,741.59 $284,842.72 $12,283,815.05 $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-1 $7,964,819.40 $165,569,152.69 0.94341398 $7,964,819.40
A-2 $0.00 $40,501,000.00 1.00000000 $0.00
A-3 $0.00 $11,012,000.00 1.00000000 $0.00
A-4 $0.00 $37,328,133.00 1.00000000 $0.00
A-5 $2,761,892.62 $72,037,426.62 0.95437749 $2,761,892.62
A-6 $0.00 $23,954,379.00 1.00000000 $0.00
A-7 $1,671,927.42 $2,893,510.72 0.58124392 $1,671,927.42
A-8 $157,822.47 $3,280,743.80 0.94341398 $157,822.47
A-9 $0.00 $0.00 0.00000000 $0.00
A-10 $0.00 $1,049,002.00 1.00000000 $0.00
A-R $0.00 $0.00 0.00000000 $0.00
AP $1.57 $1,329.25 0.99787550 $1.57
AX $0.00 $0.00 0.00000000 $0.00
M $6,025.42 $8,174,883.58 0.99853480 $6,025.42
B-1 $2,438.86 $3,308,880.71 0.99853480 $2,438.86
B-2 $1,291.16 $1,751,760.55 0.99853480 $1,291.16
B-3 $1,004.24 $1,362,480.76 0.99853480 $1,004.24
B-4 $717.31 $973,199.97 0.99853479 $717.31
B-5 $717.31 $973,201.15 0.99853480 $717.31
Totals $12,568,657.78 $374,171,083.80 0.95977886 $12,568,657.78
</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-1 175,500,000.00 988.79756177 0.98544519 44.39814108 0.00000000
A-2 40,501,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 11,012,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4 37,328,133.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5 75,481,062.00 990.96802904 0.79451572 35.79602166 0.00000000
A-6 23,954,379.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-7 4,978,135.00 917.09809798 7.29263469 328.56153961 0.00000000
A-8 3,477,523.00 988.79756079 0.98544567 44.39814201 0.00000000
A-9 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-10 1,049,002.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
AP 1,332.08 999.05411086 0.95339619 0.22521170 0.00000000
AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
M 8,186,879.00 999.27078439 0.73598498 0.00000000 0.00000000
B-1 3,313,736.00 999.27078379 0.73598500 0.00000000 0.00000000
B-2 1,754,331.00 999.27078185 0.73598426 0.00000000 0.00000000
B-3 1,364,480.00 999.27078447 0.73598734 0.00000000 0.00000000
B-4 974,628.00 999.27078844 0.73598337 0.00000000 0.00000000
B-5 974,629.18 999.27078933 0.73598248 0.00000000 0.00000000
<FN>
</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-1 0.00000000 45.38358632 943.41397544 0.94341398 45.38358632
A-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-5 0.00000000 36.59053737 954.37749167 0.95437749 36.59053737
A-6 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-7 0.00000000 335.85417430 581.24392368 0.58124392 335.85417430
A-8 0.00000000 45.38358769 943.41397598 0.94341398 45.38358769
A-9 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-10 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
AP 0.00000000 1.17860789 997.87550297 0.99787550 1.17860789
AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M 0.00000000 0.73598498 998.53479940 0.99853480 0.73598498
B-1 0.00000000 0.73598500 998.53479879 0.99853480 0.73598500
B-2 0.00000000 0.73598426 998.53479760 0.99853480 0.73598426
B-3 0.00000000 0.73598734 998.53479714 0.99853480 0.73598734
B-4 0.00000000 0.73598337 998.53479481 0.99853479 0.73598337
B-5 0.00000000 0.73598248 998.53479659 0.99853480 0.73598248
<FN>
(3) 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>
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-1 175,500,000.00 6.75000% 173,533,972.09 976,128.59 0.00 0.00
A-2 40,501,000.00 6.75000% 40,501,000.00 227,818.12 0.00 0.00
A-3 11,012,000.00 6.75000% 11,012,000.00 61,942.50 0.00 0.00
A-4 37,328,133.00 6.75000% 37,328,133.00 209,970.75 0.00 0.00
A-5 75,481,062.00 6.65000% 74,799,319.24 414,512.89 0.00 0.00
A-6 23,954,379.00 6.75000% 23,954,379.00 134,743.38 0.00 0.00
A-7 4,978,135.00 6.75000% 4,565,438.14 25,680.59 0.00 0.00
A-8 3,477,523.00 8.50000% 3,438,566.26 24,356.51 0.00 0.00
A-9 0.00 6.75000% 216,658.09 1,218.70 0.00 0.00
A-10 1,049,002.00 6.75000% 1,049,002.00 5,900.64 0.00 0.00
A-R 100.00 6.75000% 0.00 0.00 0.00 0.00
AP 1,332.08 0.00000% 1,330.82 0.00 0.00 0.00
AX 0.00 6.75000% 44,793,778.25 251,965.00 0.00 0.00
M 8,186,879.00 6.75000% 8,180,909.00 46,017.61 0.00 0.00
B-1 3,313,736.00 6.75000% 3,311,319.57 18,626.17 0.00 0.00
B-2 1,754,331.00 6.75000% 1,753,051.71 9,860.92 0.00 0.00
B-3 1,364,480.00 6.75000% 1,363,485.00 7,669.60 0.00 0.00
B-4 974,628.00 6.75000% 973,917.29 5,478.28 0.00 0.00
B-5 974,629.18 6.75000% 973,918.47 5,478.29 0.00 0.00
Totals 389,851,349.26 2,427,368.54 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-1 0.00 0.00 976,128.59 0.00 165,569,152.69
A-2 0.00 0.00 227,818.12 0.00 40,501,000.00
A-3 0.00 0.00 61,942.50 0.00 11,012,000.00
A-4 0.00 0.00 209,970.75 0.00 37,328,133.00
A-5 0.00 0.00 414,512.89 0.00 72,037,426.62
A-6 0.00 0.00 134,743.38 0.00 23,954,379.00
A-7 0.00 0.00 25,680.59 0.00 2,893,510.72
A-8 0.00 0.00 24,356.51 0.00 3,280,743.80
A-9 0.00 0.00 1,218.70 0.00 216,658.09
A-10 0.00 0.00 5,900.64 0.00 1,049,002.00
A-R 0.00 0.00 0.00 0.00 0.00
AP 0.00 0.00 0.00 0.00 1,329.25
AX 0.00 0.00 251,965.00 0.00 42,781,222.70
M 0.00 0.00 46,017.61 0.00 8,174,883.58
B-1 0.00 0.00 18,626.17 0.00 3,308,880.71
B-2 0.00 0.00 9,860.92 0.00 1,751,760.55
B-3 0.00 0.00 7,669.60 0.00 1,362,480.76
B-4 0.00 0.00 5,478.28 0.00 973,199.97
B-5 0.00 0.00 5,478.29 0.00 973,201.15
Totals 0.00 0.00 2,427,368.54 0.00
<FN>
(4) 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>
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-1 175,500,000.00 6.75000% 988.79756177 5.56198627 0.00000000 0.00000000
A-2 40,501,000.00 6.75000% 1000.00000000 5.62499988 0.00000000 0.00000000
A-3 11,012,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-4 37,328,133.00 6.75000% 1000.00000000 5.62500005 0.00000000 0.00000000
A-5 75,481,062.00 6.65000% 990.96802904 5.49161444 0.00000000 0.00000000
A-6 23,954,379.00 6.75000% 1000.00000000 5.62499992 0.00000000 0.00000000
A-7 4,978,135.00 6.75000% 917.09809798 5.15867689 0.00000000 0.00000000
A-8 3,477,523.00 8.50000% 988.79756079 7.00398243 0.00000000 0.00000000
A-9 0.00 6.75000% 1000.00000000 5.62499189 0.00000000 0.00000000
A-10 1,049,002.00 6.75000% 1000.00000000 5.62500357 0.00000000 0.00000000
A-R 100.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000
AP 1,332.08 0.00000% 999.05411086 0.00000000 0.00000000 0.00000000
AX 0.00 6.75000% 986.56810738 5.54944555 0.00000000 0.00000000
M 8,186,879.00 6.75000% 999.27078439 5.62089778 0.00000000 0.00000000
B-1 3,313,736.00 6.75000% 999.27078379 5.62089738 0.00000000 0.00000000
B-2 1,754,331.00 6.75000% 999.27078185 5.62090050 0.00000000 0.00000000
B-3 1,364,480.00 6.75000% 999.27078447 5.62089587 0.00000000 0.00000000
B-4 974,628.00 6.75000% 999.27078844 5.62089330 0.00000000 0.00000000
B-5 974,629.18 6.75000% 999.27078933 5.62089676 0.00000000 0.00000000
<FN>
(5)All Classes are Per $1000 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-1 0.00000000 0.00000000 5.56198627 0.00000000 943.41397544
A-2 0.00000000 0.00000000 5.62499988 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-4 0.00000000 0.00000000 5.62500005 0.00000000 1000.00000000
A-5 0.00000000 0.00000000 5.49161444 0.00000000 954.37749167
A-6 0.00000000 0.00000000 5.62499992 0.00000000 1000.00000000
A-7 0.00000000 0.00000000 5.15867689 0.00000000 581.24392368
A-8 0.00000000 0.00000000 7.00398243 0.00000000 943.41397598
A-9 0.00000000 0.00000000 5.62499189 0.00000000 1000.00000000
A-10 0.00000000 0.00000000 5.62500357 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
AP 0.00000000 0.00000000 0.00000000 0.00000000 997.87550297
AX 0.00000000 0.00000000 5.54944555 0.00000000 942.24223897
M 0.00000000 0.00000000 5.62089778 0.00000000 998.53479940
B-1 0.00000000 0.00000000 5.62089738 0.00000000 998.53479879
B-2 0.00000000 0.00000000 5.62090050 0.00000000 998.53479760
B-3 0.00000000 0.00000000 5.62089587 0.00000000 998.53479714
B-4 0.00000000 0.00000000 5.62089330 0.00000000 998.53479481
B-5 0.00000000 0.00000000 5.62089676 0.00000000 998.53479659
<FN>
(6) 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>
Component Distribution Summary
Certificate Beginning Current Ending Cumulative
Pass-Through Certificate Interest Principal Realized Certificate Total Realized
Component Rate Balance Distribution Distribution Loss Balance Distribution Loss
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A5#1 6.65000% 60,174,898.24 333,469.23 2,761,892.62 0.00 57,413,005.62 3,095,361.85 0.00
A5#2 6.65000% 14,624,421.00 81,043.67 0.00 0.00 14,624,421.00 81,043.67 0.00
A7#1 6.75000% 3,309,090.00 18,613.63 415,579.28 0.00 2,893,510.72 434,192.91 0.00
A7#2 6.75000% 1,256,348.14 7,066.96 1,256,348.14 0.00 0.00 1,263,415.10 0.00
79,364,757.38 440,193.48 4,433,820.04 0.00 74,930,937.34 4,874,013.52 0.00
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 15,079,819.93
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 15,079,819.93
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 83,793.61
Payment of Interest and Principal 14,996,026.32
Total Withdrawals (Pool Distribution Amount) 15,079,819.93
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 80,570.78
Trustee Fee 3,222.83
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 83,793.61
</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 18 6,548,664.31 1.572052% 1.750179%
60 Days 1 332,000.00 0.087336% 0.088729%
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 19 6,880,664.31 1.659389% 1.838909%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C> <C>
Class A 16,568,683.18 4.25000021% 16,544,406.72 4.42161552%
Class M 8,381,804.18 2.15000004% 8,369,523.14 2.23681719%
Class B-1 5,068,068.18 1.30000016% 5,060,642.43 1.35249426%
Class B-2 3,313,737.18 0.85000018% 3,308,881.88 0.88432325%
Class B-3 1,949,257.18 0.50000011% 1,946,401.12 0.52019015%
Class B-4 974,629.18 0.25000021% 973,201.15 0.26009523%
Class B-5 0.00 0.00000000% 0.00 0.00000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 180,000.00 0.04617144% 0.00 0.00000000%
Fraud 7,797,027.00 2.00000000% 0.00 0.00000000%
Special Hazard 2,294,187.00 0.58847738% 0.00 0.00000000%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
Collateral Description Fixed 30 Year
<S> <C>
Weighted Average Gross Coupon 7.791789%
Weighted Average Pass-Through Rate 7.531789%
Weighted Average Maturity (Stepdown Calculation) 0
Beginning Scheduled Collateral Loan Count 1,178
Number of Loans Paid in Full 33
Ending Scheduled Collateral Loan Count 1,145
Beginning Scheduled Collateral Balance 386,739,741.58
Ending Scheduled Collateral Balance 374,171,083.81
Ending Scheduled Balance for Other Services 374,171,083.81
Monthly P&I Constant 0.00
</TABLE>
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