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Previous: HOMESIDE MORTGAGE SECURITIES INC /DE/, 8-K, 1998-11-10 |
Next: ENVIROGEN INC, 10-Q, 1998-11-10 |
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): October 26, 1998
HOMESIDE MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-2 Trust
New York (governing law of 33-34957 52-2106459
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 October 26, 1998 a distribution was made to holders of HOMESIDE MORTGAGE
SECURITIES, INC., Mortgage Pass-Through Certificates, Series 1998-2 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 1998-2
Trust, relating to the October 26, 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.
Mortgage Pass-Through Certificates, Series 1998-2 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice president
By: Sherri J. Sharps, Vice president
Date: 11/04/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-2 Trust, relating to the October 26,
1998 distribution.
<TABLE>
<CAPTION>
Homeside Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 09/30/1998
Distribution Date: 10/26/1998
HMS Series: 1998-2
Contact: Customer Service - Columbia, MD
Norwest Bank Minnesota, N.A.
Securities Administration Services
11000 Broken Land Parkway
Columbia, MD 21044
Telephone: (301) 815-6600
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>
IA1 437609AV2 SEQ 6.34910% 58,811,155.12 69,176.16 128,161.18
IA2 437609AW0 PAC 6.50000% 13,800,000.00 74,749.99 0.00
IA3 437609AX8 TAC 7.00000% 55,626,573.50 324,488.29 915,160.38
IA4 437609AY6 SEQ 7.00000% 0.00 0.00 0.00
IA5 437609AZ3 SEG 6.75000% 20,301,266.00 114,194.60 0.00
IA6 437609BA7 PAC 6.50000% 31,000,000.00 167,916.64 0.00
IA7 437609BB5 PAC 6.50000% 13,397,588.00 72,570.26 0.00
IAX 437609BC3 IO 6.75000% 0.00 30,815.95 0.00
A-R 437609BH2 SEQ 6.75000% 0.00 0.06 0.00
2A1 437609BE9 SEG 6.50000% 43,883,715.27 237,703.41 406,877.06
2AP 437609BF6 PO 0.00000% 111,420.13 0.00 386.65
2AX 437609BG4 IO 6.50000% 0.00 9,939.03 0.00
M 437609BJ8 SUB 6.70509% 4,093,265.76 22,871.42 5,246.55
B-1 437609BK5 SUB 6.70509% 1,918,719.04 10,720.98 2,459.32
B-2 437609BL3 SUB 6.70509% 1,023,316.69 5,717.86 1,311.64
B-3 437609BM1 SUB 6.70509% 895,401.36 5,003.12 1,147.68
B-4 437609BN9 SUB 6.70509% 383,744.01 2,144.20 491.86
B-5 437609BP4 SUB 6.70509% 639,574.05 3,573.67 819.78
Totals 245,885,738.93 1,151,585.64 1,462,062.10
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
IA1 0.00 58,989,235.52 197,337.34 0.00
IA2 0.00 13,800,000.00 74,749.99 0.00
IA3 0.00 54,711,413.13 1,239,648.67 0.00
IA4 0.00 0.00 0.00 0.00
IA5 0.00 20,301,266.00 114,194.60 0.00
IA6 0.00 31,000,000.00 167,916.64 0.00
IA7 0.00 13,397,588.00 72,570.26 0.00
IAX 0.00 0.00 30,815.95 0.00
A-R 0.00 0.00 0.06 0.00
2A1 0.00 43,476,838.21 644,580.47 0.00
2AP 0.00 111,033.49 386.65 0.00
2AX 0.00 0.00 9,939.03 0.00
M 0.00 4,088,019.21 28,117.97 0.00
B-1 0.00 1,916,259.72 13,180.30 0.00
B-2 0.00 1,022,005.05 7,029.50 0.00
B-3 0.00 894,253.67 6,150.80 0.00
B-4 0.00 383,252.14 2,636.06 0.00
B-5 0.00 638,754.27 4,393.45 0.00
Totals 0.00 244,729,918.41 2,613,647.74 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>
IA1 58,517,612.78 58,811,155.12 27,371.19 100,789.99 -306,241.58 0.00
IA2 13,800,000.00 13,800,000.00 0.00 0.00 0.00 0.00
IA3 62,400,000.00 55,626,573.50 194,714.90 720,445.48 0.00 0.00
IA4 3,750,000.00 0.00 0.00 0.00 0.00 0.00
IA5 20,301,266.00 20,301,266.00 0.00 0.00 0.00 0.00
IA6 31,000,000.00 31,000,000.00 0.00 0.00 0.00 0.00
IA7 13,397,588.00 13,397,588.00 0.00 0.00 0.00 0.00
IAX 0.00 0.00 0.00 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00
2A1 44,832,074.00 43,883,715.27 150,126.49 256,750.56 0.00 0.00
2AP 112,962.72 111,420.13 382.53 4.12 0.00 0.00
2AX 0.00 0.00 0.00 0.00 0.00 0.00
M 4,113,767.00 4,093,265.76 5,246.55 0.00 0.00 0.00
B-1 1,928,329.00 1,918,719.04 2,459.32 0.00 0.00 0.00
B-2 1,028,442.00 1,023,316.69 1,311.64 0.00 0.00 0.00
B-3 899,886.00 895,401.36 1,147.68 0.00 0.00 0.00
B-4 385,666.00 383,744.01 491.86 0.00 0.00 0.00
B-5 642,777.37 639,574.05 819.78 0.00 0.00 0.00
Totals 257,110,470.87 245,885,738.93 384,071.94 1,077,990.15 (306,241.58) 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>
IA1 128,161.18 58,989,235.52 1.00805950 128,161.18
IA2 0.00 13,800,000.00 1.00000000 0.00
IA3 915,160.38 54,711,413.13 0.87678547 915,160.38
IA4 0.00 0.00 0.00000000 0.00
IA5 0.00 20,301,266.00 1.00000000 0.00
IA6 0.00 31,000,000.00 1.00000000 0.00
IA7 0.00 13,397,588.00 1.00000000 0.00
IAX 0.00 0.00 0.00000000 0.00
A-R 0.00 0.00 0.00000000 0.00
2A1 406,877.06 43,476,838.21 0.96977084 406,877.06
2AP 386.65 111,033.49 0.98292153 386.65
2AX 0.00 0.00 0.00000000 0.00
M 5,246.55 4,088,019.21 0.99374107 5,246.55
B-1 2,459.32 1,916,259.72 0.99374107 2,459.32
B-2 1,311.64 1,022,005.05 0.99374107 1,311.64
B-3 1,147.68 894,253.67 0.99374106 1,147.68
B-4 491.86 383,252.14 0.99374106 491.86
B-5 819.78 638,754.27 0.99374107 819.78
Totals 1,462,062.10 244,729,918.41 0.95184734 1,462,062.10
</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>
IA1 58,517,612.78 1005.01630750 0.46774276 1.72238725 -5.23332319
IA2 13,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
IA3 62,400,000.00 891.45149840 3.12043109 11.54560064 0.00000000
IA4 3,750,000.00 0.00000000 0.00000000 0.00000000 0.00000000
IA5 20,301,266.00 1000.00000000 0.00000000 0.00000000 0.00000000
IA6 31,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
IA7 13,397,588.00 1000.00000000 0.00000000 0.00000000 0.00000000
IAX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
2A1 44,832,074.00 978.84642299 3.34864031 5.72693916 0.00000000
2AP 112,962.72 986.34425587 3.38633843 0.03647221 0.00000000
2AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
M 4,113,767.00 995.01643141 1.27536392 0.00000000 0.00000000
B-1 1,928,329.00 995.01643132 1.27536328 0.00000000 0.00000000
B-2 1,028,442.00 995.01643262 1.27536604 0.00000000 0.00000000
B-3 899,886.00 995.01643542 1.27536155 0.00000000 0.00000000
B-4 385,666.00 995.01643909 1.27535225 0.00000000 0.00000000
B-5 642,777.37 995.01643936 1.27537160 0.00000000 0.00000000
<FN>
(2) All denominations are Per $1000
</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>
IA1 0.00000000 2.19013001 1,008.05950068 1.00805950 2.19013001
IA2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
IA3 0.00000000 14.66603173 876.78546683 0.87678547 14.66603173
IA4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
IA5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
IA6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
IA7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
IAX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2A1 0.00000000 9.07557968 969.77084330 0.96977084 9.07557968
2AP 0.00000000 3.42281064 982.92153376 0.98292153 3.42281064
2AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M 0.00000000 1.27536392 993.74106749 0.99374107 1.27536392
B-1 0.00000000 1.27536328 993.74106804 0.99374107 1.27536328
B-2 0.00000000 1.27536604 993.74106658 0.99374107 1.27536604
B-3 0.00000000 1.27536155 993.74106276 0.99374106 1.27536155
B-4 0.00000000 1.27535225 993.74106092 0.99374106 1.27535225
B-5 0.00000000 1.27537160 993.74106777 0.99374107 1.27537160
<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>
IA1 58,517,612.78 6.34910% 58,811,155.12 375,417.81 0.00 0.00
IA2 13,800,000.00 6.50000% 13,800,000.00 74,750.00 0.00 0.00
IA3 62,400,000.00 7.00000% 55,626,573.50 324,488.35 0.00 0.00
IA4 3,750,000.00 7.00000% 0.00 0.00 0.00 0.00
IA5 20,301,266.00 6.75000% 20,301,266.00 114,194.62 0.00 0.00
IA6 31,000,000.00 6.50000% 31,000,000.00 167,916.67 0.00 0.00
IA7 13,397,588.00 6.50000% 13,397,588.00 72,570.27 0.00 0.00
IAX 0.00 6.75000% 5,478,392.05 30,815.96 0.00 0.00
A-R 100.00 6.75000% 0.00 0.00 0.00 0.00
2A1 44,832,074.00 6.50000% 43,883,715.27 237,703.46 0.00 0.00
2AP 112,962.72 0.00000% 111,420.13 0.00 0.00 0.00
2AX 0.00 6.50000% 1,834,898.84 9,939.04 0.00 0.00
M 4,113,767.00 6.70509% 4,093,265.76 22,871.43 0.00 0.00
B-1 1,928,329.00 6.70509% 1,918,719.04 10,720.99 0.00 0.00
B-2 1,028,442.00 6.70509% 1,023,316.69 5,717.86 0.00 0.00
B-3 899,886.00 6.70509% 895,401.36 5,003.12 0.00 0.00
B-4 385,666.00 6.70509% 383,744.01 2,144.20 0.00 0.00
B-5 642,777.37 6.70509% 639,574.05 3,573.67 0.00 0.00
Totals 257,110,470.87 1,457,827.45 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>
IA1 0.00 0.00 69,176.16 0.00 58,989,235.52
IA2 0.00 0.00 74,749.99 0.00 13,800,000.00
IA3 0.00 0.00 324,488.29 0.00 54,711,413.13
IA4 0.00 0.00 0.00 0.00 0.00
IA5 0.00 0.00 114,194.60 0.00 20,301,266.00
IA6 0.00 0.00 167,916.64 0.00 31,000,000.00
IA7 0.00 0.00 72,570.26 0.00 13,397,588.00
IAX 0.00 0.00 30,815.95 0.00 5,419,892.23
A-R 0.00 0.00 0.06 0.00 0.00
2A1 0.00 0.00 237,703.41 0.00 43,476,838.21
2AP 0.00 0.00 0.00 0.00 111,033.49
2AX 0.00 0.00 9,939.03 0.00 1,795,784.83
M 0.00 0.00 22,871.42 0.00 4,088,019.21
B-1 0.00 0.00 10,720.98 0.00 1,916,259.72
B-2 0.00 0.00 5,717.86 0.00 1,022,005.05
B-3 0.00 0.00 5,003.12 0.00 894,253.67
B-4 0.00 0.00 2,144.20 0.00 383,252.14
B-5 0.00 0.00 3,573.67 0.00 638,754.27
Totals 0.00 0.00 1,151,585.64 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>
IA1 58,517,612.78 6.34910% 1005.01630750 6.41546694 0.00000000 0.00000000
IA2 13,800,000.00 6.50000% 1000.00000000 5.41666667 0.00000000 0.00000000
IA3 62,400,000.00 7.00000% 891.45149840 5.20013381 0.00000000 0.00000000
IA4 3,750,000.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000
IA5 20,301,266.00 6.75000% 1000.00000000 5.62499994 0.00000000 0.00000000
IA6 31,000,000.00 6.50000% 1000.00000000 5.41666677 0.00000000 0.00000000
IA7 13,397,588.00 6.50000% 1000.00000000 5.41666679 0.00000000 0.00000000
IAX 0.00 6.75000% 806.37811542 4.53587759 0.00000000 0.00000000
A-R 100.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000
2A1 44,832,074.00 6.50000% 978.84642299 5.30208484 0.00000000 0.00000000
2AP 112,962.72 0.00000% 986.34425587 0.00000000 0.00000000 0.00000000
2AX 0.00 6.50000% 965.92534959 5.23209807 0.00000000 0.00000000
M 4,113,767.00 6.70509% 995.01643141 5.55972908 0.00000000 0.00000000
B-1 1,928,329.00 6.70509% 995.01643132 5.55973073 0.00000000 0.00000000
B-2 1,028,442.00 6.70509% 995.01643262 5.55973015 0.00000000 0.00000000
B-3 899,886.00 6.70509% 995.01643542 5.55972645 0.00000000 0.00000000
B-4 385,666.00 6.70509% 995.01643909 5.55973303 0.00000000 0.00000000
B-5 642,777.37 6.70509% 995.01643936 5.55973214 0.00000000 0.00000000
<FN>
(5) All denominations are Per $1000
</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>
IA1 0.00000000 0.00000000 1.18214255 0.00000000 1008.05950068
IA2 0.00000000 0.00000000 5.41666594 0.00000000 1000.00000000
IA3 0.00000000 0.00000000 5.20013285 0.00000000 876.78546683
IA4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
IA5 0.00000000 0.00000000 5.62499895 0.00000000 1000.00000000
IA6 0.00000000 0.00000000 5.41666581 0.00000000 1000.00000000
IA7 0.00000000 0.00000000 5.41666604 0.00000000 1000.00000000
IAX 0.00000000 0.00000000 4.53587612 0.00000000 797.76738181
A-R 0.00000000 0.00000000 0.60000000 0.00000000 0.00000000
2A1 0.00000000 0.00000000 5.30208373 0.00000000 969.77084330
2AP 0.00000000 0.00000000 0.00000000 0.00000000 982.92153376
2AX 0.00000000 0.00000000 5.23209281 0.00000000 945.33499717
M 0.00000000 0.00000000 5.55972664 0.00000000 993.74106749
B-1 0.00000000 0.00000000 5.55972554 0.00000000 993.74106804
B-2 0.00000000 0.00000000 5.55973015 0.00000000 993.74106658
B-3 0.00000000 0.00000000 5.55972645 0.00000000 993.74106276
B-4 0.00000000 0.00000000 5.55973303 0.00000000 993.74106092
B-5 0.00000000 0.00000000 5.55973214 0.00000000 993.74106777
<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
Pass-Through Notional Notional Component Component Ending
Class Rate Balance Balance Balance Balance Component
<S> <C> <C> <C> <C> <C> <C>
IA1 1 0.00000% 0.00 0.00 6,160,101.90 6,133,783.26 93.99852116%
IA1 2 7.00000% 4,156,970.57 4,156,970.57 0.00 0.00 100.00000000%
IA1 3 7.00000% 0.00 0.00 52,498,566.18 52,703,123.28 101.66831930%
IA1 4 0.00000% 0.00 0.00 152,487.04 152,328.99 98.97033911%
IA1 5 6.75000% 7,987,053.22 7,961,369.45 0.00 0.00 96.46636920%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 2,666,922.79
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 2,666,922.79
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 53,275.05
Payment of Interest and Principal 2,613,647.74
Total Withdrawals (Pool Distribution Amount) 2,666,922.79
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 51,226.07
Trustee Fee 2,048.98
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 53,275.05
</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 1 377,758.28 0.135685% 0.154357%
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 1 377,758.28 0.135685% 0.154357%
</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
Current Next
Original $ Original % Current $ Current % Class% Prepayment%
<S> <C> <C> <C> <C> <C> <C> <C>
Class A 257,110,370.87 99.99996111% 244,729,918.41 100.00000000% 96.345954% 0.000000%
Class IA1 198,592,758.09 77.24024518% 185,740,682.89 75.89618960% 24.103810% 659.647133%
Class IA1 198,592,758.09 77.24024518% 185,740,682.89 75.89618960% 24.103810% 659.647133%
Class IA1 198,592,758.09 77.24024518% 185,740,682.89 75.89618960% 24.103810% 659.647133%
Class IA1 198,592,758.09 77.24024518% 185,740,682.89 75.89618960% 24.103810% 659.647133%
Class IA1 198,592,758.09 77.24024518% 185,740,682.89 75.89618960% 24.103810% 659.647133%
Class IA2 184,792,758.09 71.87290252% 171,940,682.89 70.25732040% 5.638869% 154.318502%
Class IA3 122,392,758.09 47.60317916% 117,229,269.76 47.90148688% 22.355834% 611.810384%
Class IA4 118,642,758.09 46.14466213% 117,229,269.76 47.90148688% 0.000000% 0.000000%
Class IA5 98,341,492.09 38.24873089% 96,928,003.76 39.60611126% 8.295376% 227.018909%
Class IA6 67,341,492.09 26.19165679% 65,928,003.76 26.93908623% 12.667025% 346.657504%
Class IA7 53,943,904.09 20.98082739% 52,530,415.76 21.46464809% 5.474438% 149.818529%
Class IAX 53,943,904.09 20.98082739% 52,530,415.76 21.46464809% 0.000000% 0.000000%
Class 2A1 9,111,830.09 3.54393583% 9,053,577.55 3.69941591% 17.765232% 486.179748%
Class 2AP 8,998,867.37 3.50000035% 8,942,544.06 3.65404611% 0.045370% 1.241632%
Class 2AX 8,998,867.37 3.50000035% 8,942,544.06 3.65404611% 0.000000% 0.000000%
Class M 4,885,100.37 1.90000055% 4,854,524.85 1.98362541% 1.670421% 45.714275%
Class B-1 2,956,771.37 1.15000037% 2,938,265.13 1.20061542% 0.783010% 21.428575%
Class B-2 1,928,329.37 0.75000033% 1,916,260.08 0.78301014% 0.417605% 11.428572%
Class B-3 1,028,443.37 0.40000058% 1,022,006.41 0.41760583% 0.365404% 9.999992%
Class B-4 642,777.37 0.25000046% 638,754.27 0.26100375% 0.156602% 4.285717%
Class B-5 0.00 0.00000000% 0.00 0.00000000% 0.261004% 7.142870%
<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 100,000.00 0.03889379% 100,000.00 0.04086137%
Fraud 2,571,105.00 1.00000011% 2,571,105.00 1.05058875%
Special Hazard 2,571,105.00 1.00000011% 2,571,105.00 1.05058875%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed 30 Year
Weighted Average Gross Coupon 0.000000%
Weighted AverageNet Coupon 7.124658%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity(Stepdown Calculation ) 320
Begin Scheduled Collateral Loan Count 740
Number Of Loans Paid In Full 3
End Scheduled Collateral Loan Count 737
Begining Scheduled Collateral Balance 245,885,738.92
Ending Scheduled Collateral Balance 244,729,918.41
Ending Actual Collateral Balance at 30-Sep-1998 244,729,918.41
Monthly P &I Constant 1,830,016.72
Class A Optimal Amount 2,551,595.14
Ending Scheduled Balance for Premium Loans 244,729,918.41
Scheduled Principal 318,914.19
Unscheduled Principal 836,906.32
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2
Collateral Description Mixed Fixed Mixed Fixed
Weighted Average Coupon Rate 7.458679 7.005651
Weighted Average Net Rate 7.198679 6.745651
Weighted Average Maturity 352.00 173.00
Begining Loan Count 603.00 137.00
Loans Paid In Full 2.00 1.00
Ending Loan Count 601.00 136.00
Begining Scheduled Balance 200,282,098.25 45,603,640.67
Ending Scheduled Balance 199,539,044.15 45,190,874.26
Record Date 09/30/98 09/30/98
Principal And Interest Constant 1,407,768.98 422,247.74
Scheduled Principal 162,902.46 156,011.73
Unscheduled Principal 580,151.64 256,754.68
Scheduled Interest 1,244,866.52 266,236.01
Servicing Fee 41,725.42 9,500.72
Other Fee 1,669.03 380.00
Net Interest 1,201,472.07 256,355.29
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C>
Groups 30 Days 60 Days 90 + Days
Number Balance Number Balance Number Balance
1 1 377,758.28 0 0.00 0 0.00 0
2 0 0.00 0 0.00 0 0.00 0
Total 1 $377,758.28 0 $0.00 0 $0.00 0
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Groups Foreclosure REO Bankruptcy
1 0 0 0
2 0 0 0
</TABLE>
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