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<PAGE>
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):January 17, 2000
HOME EQUITY LOAN TRUST 1999-A
-----------------------------
(Exact name of registrant as specified in its charter)
Minnesota 33-55853 Applied for
- ------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employer
of incorporation) file numbers) identification no.)
1100 Landmark Towers, 345 St. Peter Street, Saint Paul, Minnesota 55102-1639
-----------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (651) 293-3400
--------------
Not Applicable
--------------------------------------------------------------
(Former name or former address, if changed since last report.)
<PAGE>
Item 5. Other Events.
Pursuant to the Pooling and Servicing Agreement between Conseco Finance
Corp. (the "Servicer") and U S Bank Trust (N.A.) (the "Trustee"), on
January 17, 2000, the Trustee made distributions to the holders of the
certificates representing interests in the Trust (the
"Certificateholders") and delivered to the Certificateholders the
Monthly Report required by Section 6.05 of the Pooling and Servicing
Agreement attached hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
The following is filed herewith. The exhibit number
corresponds with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99.1 Monthly Report delivered to
Certificateholders on
January 17, 2000.
<PAGE>
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.
Dated: January 17, 2000
HOME EQUITY LOAN TRUST 1999-A
By CONSECO FINANCE CORP.
as Servicer with respect to the Trust
By: /s/Phyllis A. Knight
--------------------
Phyllis A. Knight
Senior Vice President and Treasurer
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Page
- ------ ----
99.1 Monthly Report delivered to Certificateholders 5
on January 17, 2000.
<PAGE>
EXHIBIT 99.1
CONSECO FINANCE CORP.
CERTIFICATE REGARDING REPURCHASED CONTRACTS
The undersigned certifies that she is Senior Vice President and Treasurer of
Conseco Finance Corp., a Minnesota corporation (the "Company"), and that as such
he is duly authorized to execute and deliver this certificate on behalf of the
Company pursuant to Section 8.06 of the Pooling and Servicing Agreement (the
"Agreement") dated as of February 1, 1998 between the Company and U S Bank Trust
National Association, as Trustee of Home Equity Loan Trust 1999-A (all
capitalized terms used herein without definition having the respective meanings
specified in the Agreement), and further certifies that:
1. The contracts on the attached schedule are to be repurchased by the
Company on the date hereof pursuant to Sections 3.05 of the Agreement.
2. Upon deposit of the Repurchase Price for such Contracts, such Contracts
may, pursuant to Section 8.06 of the Agreement, be assigned by the
Trustee to the Company.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 12th day of
January, 2000.
CONSECO FINANCE CORP.
BY: /s/Phyllis A. Knight
--------------------
Phyllis A. Knight
Senior Vice President and
Treasurer
<PAGE>
CONSECO FINANCE CORP.
CERTIFICATE OF SERVICING OFFICER
The undersigned certifies that she is Senior Vice President and Treasurer of
Conseco Finance Corp., a Minnesota corporation (the "Company"), and that as such
he is duly authorized to execute and deliver this certificate on behalf of the
Company pursuant to Section 6.02 of the Pooling and Servicing Agreement (the
"Agreement") dated as of February 1, 1998 between the Company and U S Bank Trust
(N.A), as Trustee of Home Equity Loan Trust 1999-A (all capitalized terms used
herein without definition having the respective meanings specified in the
Agreement), and further certifies that:
1. The Monthly Report for the period from December 1, 1999 to December 31,
1999 attached to this certificate is complete and accurate in
accordance with the requirements of Sections 6.01 and 6.02 of the
Agreement; and
2. As of the date hereof, no Event of Termination or event that with
notice or lapse of time or both would become an Event of Termination
has occurred.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 12th day of
January, 2000.
CONSECO FINANCE CORP.
BY: /s/Phyllis A. Knight
--------------------
Phyllis A. Knight
Senior Vice President and
Treasurer
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 1999-A
MONTHLY REPORT December 1999
Distribution Date: 1/18/00
-----------------
CUSIP# 393505 T93,U26
-----------------
U34,U34,U42,U59
-----------------
U67,U75,U83,U91
-----------------
V25,V33,V41,W81
-----------------
Trust Account: 3337361-0
-----------------
<TABLE>
<CAPTION>
<S> <C> <C>
1. Amount Available (including Monthly Servicing Fee) $ 36,473,190.06
---------------
2. Formula Principal Distribution Amount:
(a) Scheduled Principal $ 987,751.74
---------------
(b) Principal Prepayments 17,882,431.61
---------------
(c) Liquidated Loans 282,510.05
---------------
(d) Repurchases 0.00
---------------
(e) Previously undistributed (a)-(d) amounts 0.00
---------------
(f) Pre-Funded Fixed Rate Amount, if any
(Post-Funding Payment Date) 0.00
---------------
(g) minus Group I ARM Formula Principal
Distribution Amount 0.00
---------------
Total Principal $ 19,152,693.40
---------------
3. Group I ARM Formula Principal Distribution Amount:
(a) Scheduled Principal $ 78,502.92
---------------
(b) Principal Prepayments 4,866,181.85
---------------
(c) Liquidated Loans 18,002.23
---------------
(d) Repurchases 0.00
---------------
(e) Pre-Funded Group I ARM Amount, if any
(Post-Funding Payment Date) 0.00
---------------
(f) Clause (vi) of definition 0.00
---------------
Total Principal $ 4,962,687.00
---------------
4. Group II ARM Formula Principal Distribution Amount:
(a) Scheduled Principal $ 73,147.73
---------------
(b) Principal Prepayments 3,588,576.03
---------------
(c) Liquidated Loans 0.00
---------------
(d) Repurchases 0.00
---------------
(e) Pre-Funded Group II ARM Amount, if any
(Post-Funding Payment Date) 0.00
---------------
(f) Clause (vi) of definition 0.00
---------------
Total Principal $ 3,661,723.76
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 1999-A
MONTHLY REPORT December 1999
PAGE 2
Distribution Date: 1/18/00
-----------------
CUSIP# 393505 T93,U26
-----------------
U34,U34,U42,U59
-----------------
U67,U75,U83,U91
-----------------
V25,V33,V41,W81
-----------------
Trust Account: 3337361-0
-----------------
<TABLE>
<CAPTION>
<S> <C> <C>
5. Senior Percentage 100%
---------------
6. Class B Percentage 0%
---------------
7. (a) LIBOR 6.46250%
---------------
(b) Class A-1A ARM Pass-Through Margin (.26% or .52%) 0.26%
---------------
(c) Available Funds Pass-Through Rate 6.72250%
---------------
8. (a) LIBOR 6.46250%
---------------
(b) Class A-1B ARM Pass-Through Margin (.28% or .56%) 0.28%
---------------
(c) Available Funds Pass-Through Rate 6.74250%
---------------
9. Class HE: A-5 IO Notional Principal Amount $ 120,000,000.00
---------------
Class A Certificates
- --------------------
Interest
10. Aggregate Current Interest
(a) Class A-1A ARM Pass-through Rate 6.72250%
(a floating rate per annum equal to the lesser of (a) LIBOR plus --------
the Class A-1A ARM Pass-Through Margin, or (b) the Available
Funds Pass-Through Rate, but in no case more than 14.0%)
(b) Class A-1A ARM Interest $ 827,330.89
---------------
(c) Class A-1B ARM Pass-through Rate 6.74250%
(a floating rate per annum equal to the lesser of (a) LIBOR plus --------
the Class A-1B ARM Pass-Through Margin, or (b) the Available
Funds Pass-Through Rate, but in no case more than 14.0%)
(d) Class A-1B ARM Interest $ 823,954.53
---------------
(e) Class A-1 Pass-through Rate 5.59%
(f) Class A-1 Interest ----- $ 761,674.05
---------------
(g) Class A-2 Pass-through Rate 5.78%
(h) Class A-2 Interest ----- $ 650,250.00
---------------
(i) Class A-3 Pass-through Rate 5.98%
-----
(j) Class A-3 Interest $ 652,816.67
---------------
(k) Class A-4 Pass-through Rate 6.18%
(l) Class A-4 Interest ----- $ 306,425.00
---------------
(m) Class A-5 Pass-through Rate 6.13%
(n) Class A-5 Interest ----- $ 344,812.50
---------------
(o) Class A-6 IO Pass-through Rate 5.50%
-----
(p) Class A-6 IO Interest $ 550,000.00
---------------
11. Amount applied to Unpaid Class A Interest Shortfall $ 0.00
---------------
12. Remaining Unpaid Class A Interest Shortfall $ 0.00
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 1999-A
MONTHLY REPORT December 1999
PAGE 3
Distribution Date: 1/18/00
-----------------
CUSIP# 393505 T93,U26
-----------------
U34,U34,U42,U59
-----------------
U67,U75,U83,U91
-----------------
V25,V33,V41,W81
-----------------
Trust Account: 3337361-0
-----------------
<TABLE>
<CAPTION>
<S> <C> <C>
Class M-1 Certificates
- ----------------------
13. Amount Available less all preceding distributions $ 31,555,926.42
---------------
Interest on Class M-1 Adjusted Principal Balance
14. Class M-1 Adjusted Principal Balance $ 72,000,000.00
---------------
15. Current Interest
(a) Class M-1 Pass-through Rate 6.92%
(floating rate equal to the Weighted Average Loan Rate, -----
but in no event greater than 6.92%)
(b) Class M-1 Interest $ 415,200.00
---------------
16. Amount applied to Unpaid Class M-1 Interest Shortfall $ 0.00
---------------
17. Remaining Unpaid Class M-1 Interest Shortfall $ 0.00
---------------
Class M-2 Certificates
- ----------------------
18. Amount Available less all preceding distributions $ 31,140,726.42
---------------
Interest on Class M-2 Adjusted Principal Balance
19. Class M-2 Adjusted Principal Balance $ 61,200,000.00
---------------
20. Current Interest
(a) Class M-2 Pass-through Rate 7.45%
(floating rate equal to the Weighted Average Loan Rate, -----
but in no event greater than 7.45%)
(b) Class M-2 Interest $ 379,950.00
---------------
21. Amount applied to Unpaid Class M-2 Interest Shortfall $ 0.00
---------------
22. Remaining Unpaid Class M-2 Interest Shortfall $ 0.00
---------------
Class B-1 Certificates
- ----------------------
23. Amount Available less all preceding distributions $ 30,760,776.42
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 1999-A
MONTHLY REPORT December 1999
PAGE 4
Distribution Date: 1/18/00
------------------
CUSIP# 393505 T93,U26
------------------
U34,U34,U42,U59
------------------
U67,U75,U83,U91
------------------
V25,V33,V41,W81
------------------
Trust Account: 3337361-0
------------------
<TABLE>
<CAPTION>
<S> <C> <C>
Interest on Class B-1 Adjusted Principal Balance
24. Class B-1 Adjusted Principal Balance $ 43,800,000.00
---------------
25. Current Interest
(a) Class B-1 Pass-through Rate 8.97%
(floating rate equal to the Weighted Average Loan Rate, -----
but in no event greater than 8.97%)
(b) Class B-1 Interest $ 327,405.00
---------------
26. Amount applied to Unpaid Class B-1 Interest Shortfall $ 0.00
---------------
27. Remaining Unpaid Class B-1 Interest Shortfall $ 0.00
---------------
Class A Certificates
- --------------------
28. Amount Available less all preceding distributions $ 30,433,371.42
---------------
Principal
29. Class A-5 Lockout Percentage for such Payment Date 0.00%
---------------
30. Class A Principal Distribution:
(a) Class A-1A ARM $ 4,962,687.00
---------------
(b) Class A-1B ARM $ 3,661,723.76
---------------
(c) Class A-5 Lockout Pro Rata Distribution Amount $ 0.00
---------------
(d) Balance of Senior Percentage of Formula Principal $ 0.00
---------------
31. Distribution Amount:
(a) Class A-1 $ 19,152,693.40
---------------
(b) Class A-2 $ 0.00
---------------
(c) Class A-3 $ 0.00
---------------
(d) Class A-4 $ 0.00
---------------
(e) Class A-5 $ 0.00
---------------
(f) Class A-1A ARM and A-1B ARM $ 0.00
---------------
</TABLE>
<PAGE>
MONTHLY REPORT December 1999
PAGE 5
Distribution Date: 1/18/00
-----------------
CUSIP# 393505 T93,U26
-----------------
U34,U34,U42,U59
-----------------
U67,U75,U83,U91
-----------------
V25,V33,V41,W81
-----------------
Trust Account: 3337361-0
-----------------
<TABLE>
<CAPTION>
<S> <C> <C>
32. Class A Principal Balance:
(a) Class A-1A ARM Principal Balance $ 125,345,593.37
---------------
(b) Class A-1B ARM Principal Balance $ 125,729,813.46
---------------
(c) Class A-1 Principal Balance $ 144,355,153.01
---------------
(d) Class A-2 Principal Balance $ 135,000,000.00
---------------
(e) Class A-3 Principal Balance $ 131,000,000.00
---------------
(f) Class A-4 Principal Balance 59,500,000.00
---------------
(g) Class A-5 Principal Balance $ 67,500,000.00
---------------
33. Amount, if any, by which Class A Formula Principal Distribution Amount
exceeds the amount distributed pursuant to item (30) $ 0.00
---------------
Class M-1 Certificates
- ----------------------
34. Amount Available less all preceding distributions $ 2,656,267.26
---------------
Principal
35. Class M-1 Principal Distribution $ 0.00
---------------
36. Class M-1 Principal Balance $ 72,000,000.00
---------------
37. Amount, if any, by which the amount in clause (c) of the Class M-1 Formula
Distribution Amount exceeds the amount distributed pursuant to item (35) $ 0.00
---------------
Class M-2 Certificates
- ----------------------
38. Amount Available less all preceding distributions $ 2,656,267.26
---------------
Principal
39. Class M-2 Principal Distribution $ 0.00
---------------
40. Class M-2 Principal Balance $ 61,200,000.00
---------------
41. Amount, if any, by which the amount in clause (c) of the Class M-2 Formula
Distribution Amount (the "Class M-2 Formula Principal Distribution Amount")
exceeds the amount distributed pursuant to item (39) $ 0.00
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 1999-A
MONTHLY REPORT December 1999
PAGE 6
Distribution Date: 1/18/00
-----------------
CUSIP# 393505 T93,U26
-----------------
U34,U34,U42,U59
-----------------
U67,U75,U83,U91
-----------------
V25,V33,V41,W81
-----------------
Trust Account: 3337361-0
-----------------
<TABLE>
<CAPTION>
<S> <C> <C>
Class B Principal Distribution Tests
(tests must be satisfied on and after the Payment Date occurring in April 2002)
42. Average Sixty-Day Deliquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current Payment Date 3.24%
---------------
(b) Average Sixty-Day Delinquency Ratio Test (arithmetic average of
ratios for this month and two preceding months; may not exceed 10%) 2.78%
---------------
43. Average Thirty-Day Delinquency Ratio Test
(a) Thirty-Day Delinquency Ratio for current Payment Date 4.90%
---------------
(b) Average Thirty-Day Delinquency Ratio Test (arithmetic average of
ratios for this month and two preceding months; may not exceed 12%) 4.48%
---------------
44. Cumulative Realized Losses Test
(a) Cumulative Realized Losses for current Payment Date (as a percentage
of Cut-off Date Pool Principal Balance: may not exceed 7.5%.) 0.06%
---------------
45. Current Realized Losses Test
(a) Current Realized Losses for current Payment Date $ 237,272.02
---------------
(b) Current Realized Loss Ratio (total Realized Losses for most
recent six months, multiplied by 2, divided by arithmetic
average of Pool Scheduled Principal Balance for sixth preceding
Payment Date and for current Payment Date; may not exceed 2.0%) 0.26%
---------------
46. Class B Principal Balance Test
(a) Class B Principal Balance plus Over-collateralization Adjustment Amount
divided by Pool Scheduled Principal Balance for prior Payment Date
(must equal or exceed 15.3%) 8.82%
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 1999-A
MONTHLY REPORT December 1999
PAGE 7
Distribution Date: 1/18/00
-----------------
CUSIP# 393505 T93,U26
-----------------
U34,U34,U42,U59
-----------------
U67,U75,U83,U91
-----------------
V25,V33,V41,W81
-----------------
Trust Account: 3337361-0
-----------------
<TABLE>
<CAPTION>
<S> <C>
Class B-1 Certificates
- ----------------------
47. Amount Available less all preceding distributions $ 2,656,267.26
---------------
Principal
48. Class B-1 Principal Distribution $ 0.00
---------------
49. Class B-1 Principal Balance $ 43,800,000.00
---------------
50. Amount, if any, by which the amount in clause (c) of the Class B-1 Formula
Distribution Amount exceeds the amount distributed pursuant to item (48) $ 0.00
---------------
Class M-1 Certificates
- ----------------------
51. Amount Available less all preceding distributions $ 2,656,267.26
---------------
Liquidation Loss Interest
52. Class M-1 Formula Liquidation Loss Interest Distribution Amount $ 0.00
---------------
53. Amount applied to Unpaid Class M-1 Liquidation Loss Interest Shortfall $ 0.00
---------------
54. Remaining Unpaid Class M-1 Liquidation Loss Interest Shortfall $ 0.00
---------------
Class M-2 Certificates
- ----------------------
55. Amount Available less all preceding distributions $ 2,656,267.26
---------------
Liquidation Loss Interest
56. Class M-2 Formula Liquidation Loss Interest Distribution Amount $ 0.00
---------------
57. Amount applied to Unpaid Class M-2 Liquidation Loss Interest Shortfall $ 0.00
---------------
58. Remaining Unpaid Class M-2 Liquidation Loss Interest Shortfall $ 0.00
---------------
Class B-1 Certificates
- ----------------------
59. Amount Available less all preceding distributions $ 2,656,267.26
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 1999-A
MONTHLY REPORT December 1999
PAGE 8
Distribution Date: 1/18/00
-----------------
CUSIP# 393505 T93,U26
-----------------
U34,U34,U42,U59
-----------------
U67,U75,U83,U91
-----------------
V25,V33,V41,W81
-----------------
Trust Account: 3337361-0
-----------------
<TABLE>
<CAPTION>
<S> <C> <C>
Liquidation Loss Interest
60. Class B-1 Formula Liquidation Loss Interest Distribution Amount $ 0.00
---------------
61. Amount applied to Unpaid Class B-1 Liquidation Loss Interest Shortfall $ 0.00
---------------
62. Remaining Unpaid Class B-1 Liquidation Loss Interest Shortfall $ 0.00
---------------
Class B-2A Certificates
- -----------------------
63. Amount Available less all preceding distributions $ 2,656,267.26
---------------
Interest
64. Current Interest
(a) Class B-2A Pass-through Rate 7.44%
(floating rate equal to the Weighted Average Loan Rate, -----
but in no event greater than 7.44%)
(b) Class B-2A Interest $ 41,528.80
---------------
65. Amount applied to Unpaid Class B-2A Interest Shortfall $ 0.00
---------------
66. Remaining Unpaid Class B-2A Interest shortfall $ 0.00
---------------
Principal
67. Class B-2A Principal Distribution $ 0.00
---------------
68. Class B-2A Additional Principal Distribution Amount $ 1,000,750.97
---------------
69. Class B-2A Principal Balance $ 5,697,443.08
---------------
Class B-2 Certificates
- ----------------------
70. Amount Available less all preceding distributions $ 1,613,987.49
---------------
Interest
71. Current Interest
(a) Class B-2 Pass-through Rate 8.97%
(floating rate equal to the Weighted Average Loan Rate, -----
but in no event greater than 8.97%)
(b) Class B-2 Interest $ 179,400.00
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 1999-A
MONTHLY REPORT December 1999
PAGE 9
Distribution Date: 1/18/00
-----------------
CUSIP# 393505 T93,U26
-----------------
U34,U34,U42,U59
-----------------
U67,U75,U83,U91
-----------------
V25,V33,V41,W81
-----------------
Trust Account: 3337361-0
-----------------
<TABLE>
<CAPTION>
<S> <C>
72. Amount applied to Unpaid Class B-2 Interest Shortfall $ 0.00
---------------
73. Remaining Unpaid Class B-2 Interest shortfall $ 0.00
---------------
Principal
74. Class B-2 Principal Distribution $ 0.00
---------------
75. Class B-2 Guaranty Payment $ 0.00
---------------
76. Class B-2 Principal Balance $ 24,000,000.00
---------------
77. Amount, if any, by which Class B-2 Formula Distribution Amount plus
Class B-2 Liquidation Loss Principal Amount exceeds Class B-2
Distribution Amount $ 0.00
---------------
Class A-1A ARM Certificates
- ---------------------------
78. Amount Available less all preceding distributions $ 1,434,587.49
---------------
Available Fund Limitation Interest
79. Class A-1A ARM Formula Available Funds Limitation Interest
Distribution Amount $ 0.00
---------------
80. Amount applied to Unpaid Class A-1A ARM Available Funds
Limitation Shortfall $ 0.00
---------------
81. Remaining Unpaid Class A-1A ARM Available Funds Limitation Shorfall $ 0.00
---------------
Class A-1B ARM Certificates
- ---------------------------
82. Amount Available less all preceding distributions $ 1,434,587.49
---------------
Available Fund Limitation Interest
83. Class A-1B ARM Formula Available Funds Limitation Interest
Distribution Amount $ 0.00
---------------
84. Amount applied to Unpaid Class A-1B ARM Available Funds
Limitation Shortfall $ 0.00
---------------
85. Remaining Unpaid Class A-1B ARM Available Funds Limitation Shorfall $ 0.00
---------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 1999-A
MONTHLY REPORT December 1999
PAGE 10
Distribution Date: 1/18/00
-----------------
CUSIP# 393505 T93,U26
-----------------
U34,U34,U42,U59
-----------------
U67,U75,U83,U91
-----------------
V25,V33,V41,W81
-----------------
Trust Account: 3337361-0
-----------------
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Class A, Class M, and Class B Certificates
- ------------------------------------------
86. Pool Scheduled Principal Balance $ 1,013,430,559.84
-----------------
(a) Fixed Rate Loans $ 762,355,153.01
-----------------
(b) Group I Adjustable Rate Loans $ 125,345,593.37
-----------------
(c) Group II Adjustable Rate Loans $ 125,729,813.46
-----------------
87. Pool Factors
(a) Class A-1A ARM Pool Factor .83563729
-----------------
(b) Class A-1B ARM Pool Factor .83819876
-----------------
(c) Class A-1 Pool Factor .51189771
-----------------
(d) Class A-2 Pool Factor 1.00000000
-----------------
(e) Class A-3 Pool Factor 1.00000000
-----------------
(f) Class A-4 Pool Factor 1.00000000
-----------------
(g) Class A-5 Pool Factor 1.00000000
-----------------
(h) Class M-1 Pool Factor 1.00000000
-----------------
(i) Class M-2 Pool Factor 1.00000000
-----------------
(j) Class B-1 Pool Factor 1.00000000
-----------------
(k) Class B-2A Pool Factor .23739346
-----------------
(l) Class B-2 Pool Factor 1.00000000
-----------------
88. Loans Delinquent:
Fixed Rate
(a) 31-59 days 13,669,779.00 230
----------------- ------------
(b) 60-89 days 3,991,425.00 74
----------------- ------------
(c) 90 or more days 1,986,545.84 61
----------------- ------------
Group I Adjustable Rate
(a) 31-59 days 1,872,386.00 24
----------------- ------------
(b) 60-89 days 160,598.00 2
----------------- ------------
(c) 90 or more days 40,413.95 1
----------------- ------------
Group II Adjustable Rate
(a) 31-59 days 1,275,232.00 13
----------------- ------------
(b) 60-89 days 445,475.00 4
----------------- ------------
(c) 90 or more days 0.00 0
----------------- ------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME EQUITY LOANS 1999-A
MONTHLY REPORT December 1999
PAGE 11
Distribution Date: 1/18/00
-----------------
CUSIP# 393505 T93,U26
-----------------
U34,U34,U42,U59
-----------------
U67,U75,U83,U91
-----------------
V25,V33,V41,W81
-----------------
Trust Account: 3337361-0
-----------------
<TABLE>
<CAPTION>
<S> <C> <C>
89. Principal Balance of Defaulted Loans
(a) Fixed Rate $ 21,289,728.40
--------------
(b) Group I Adjustable Rate $ 1,328,001.67
--------------
(c) Group II Adjustable Rate $ 3,593,259.32
--------------
90. Number of Liquidated Loans and Net Liquidated Loss
Fixed Rate # 10 $ 214,170.49
--------- --------------
Group I Adjustable Rate # 1 $ 23,101.53
--------- --------------
Group II Adjustable Rate # 0 $ 0.00
--------- --------------
91. Number of Loans Remaining
Fixed Rate 12,732
--------------
Group I Adjustable Rate 1,211
--------------
Group II Adjustable Rate 1,003
--------------
92. Pre-Funded $ 0.00
--------------
Pre-Funded Fixed Rate Amount $ 0.00
--------------
Pre-Funded Group I ARM Amount $ 0.00
--------------
Pre-Funded Group II ARM Amount $ 0.00
--------------
Company
93. Monthly Servicing Fee $ 433,836.53
--------------
Class B-2A Certificates
- -----------------------
94. Class B-2A Aggregate Additional Principal Distribution Amount $ 18,302,556.91
--------------
Company
95. Class B-2 Guaranty Fee $ 1,000,750.96
--------------
Class C Subsidiary Certificates
96. Class C Subsidiary residual payment $ 0.00
--------------
Class C Master Certificates
97. Class C Master Distribution Amount $ 0.00
--------------
</TABLE>
Please contact the Bondholder Relations Department of U.S. Bank Trust National
Association at (612) 224-0444 with any questions regarding this Statement or
your Distribution.
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