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Previous: FLECK SHELDON, SC 13D/A, 1996-11-27 |
Next: ADVANTA MORTGAGE CONDUIT SERVICES INC, 8-K, 1996-11-27 |
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: October 25, 1996
ADVANTA Home Equity Loan Trust 1996-1
New York 33-95006 33-6182296
c/o ADVANTA Mortgage Corp., USA
Attn: William P. Garland
16875 West Bernardo Drive
San Diego, Ca 92127
(619) 674-1800
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the September, 1996 Monthly Period of the Trust in respect of
the Home Equity Loan Pass-Through Certificates, Series 1996-1,
Class A (the "Certificates") issued by the Registrant and the
performance of the Trust (including distributions of principal
and interest, delinquent balances of Home Equity Loans,
and the Subordinated amount remaining), together with certain other
information relating to the certificates, is contained in the
Monthly Report for the Monthly Period provided to certificateholders
pursuant to the Pooling and Servicing Agreement (the "Agreement")
dated as of February 1, 1996 between ADVANTA Mortgage Corp.,
USA as Servicer, and Bankers Trust Company, as Trustee.
Item 7. Financial Statements, Exhibits
Exhibit No. Exhibit
1. Monthly Report for the September, 1996 Monthly Period
relating to the Home Equity Loan Pass-Through
Certificates Series 1996-1, Class A issued by the
ADVANTA Home Equity Loan Trust 1996-1.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the September, 1996 Monthly
Period relating to the Home Equity Loan Pass-Through
Certificates, Series 1996-1, Class A issued by the
ADVANTA Home Equity Loan Trust 1996-1.
SIGNATURE
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 thereunto duly authorized.
ADVANTA Home Equity Loan Trust 1996-1
BY: ADVANTA Mortgage Corp., USA
BY: /s/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
November 27, 1996
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1996-1
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
A-1 78,740,000.0 51,308,413.1 262,528 4,014,729.6 4,277,257.65
A-2 30,320,000.0 30,320,000.0 149,073 149,073.33
A-3 36,790,000.0 36,790,000.0 184,869 184,869.75
A-4 10,670,000.0 10,670,000.0 55,39 55,395.08
A-5 35,520,000.0 35,520,000.0 187,960 187,960.00
A-6 15,580,000.0 15,580,000.0 87,37 87,377.83
A-7 22,380,000.0 22,380,000.0 131,855 131,855.50
A-8-I 70,000,000.0 58,361,289.9 288,766 1,984,034.7 2,272,801.55
RS 214,953 214,953.47
Totals 300,000,000.00 260,929,703.07 1,562,779. 5,998,764.3 7,561,544.16
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A-1 47,293,683.5 6.140000% 6.140000%
A-2 30,320,000.0 5.900000% 5.900000%
A-3 36,790,000.0 6.030000% 6.030000%
A-4 10,670,000.0 6.230000% 6.230000%
A-5 35,520,000.0 6.350000% 6.350000%
A-6 15,580,000.0 6.730000% 6.730000%
A-7 22,380,000.0 7.070000% 7.070000%
A-8-I 56,377,255.1 5.937500% 5.812500%
RS 0.000000% 0.000000%
Totals 254,930,938.72
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A-1 00755WBX3 651.61815 3.334113 50.987168 54.321281 600.630983
A-2 00755WBY1 1000 4.916667 0 4.916667 1000
A-3 00755WBZ8 1000 5.025 0 5.025 1000
A-4 00755WCA2 1000 5.191666 0 5.191666 1000
A-5 00755WCB0 1000 5.291667 0 5.291667 1000
A-6 00755WCC8 1000 5.608333 0 5.608333 1000
A-7 00755WCD6 1000 5.891667 0 5.891667 1000
A-8-I 00755WCE4 833.732713 4.12524 28.343354 32.468594 805.389359
RS AM9106109 0 0.716512 0 0.716512 0
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Delinquency Advances made: 2,081,022.18
Accrued Servicing Fee for the Current Pe 111,429.29
Plus additional Servicing Fees: -
Less permitted reductions to Servicing F -
Total Servicing Fees due Master Servicer: 111,429.29
Actual collected Servicing Fees for current period: 8,916.98
</TABLE>
<TABLE>
Delinquent and Foreclosure Loan Information:
<CAPTION>
90+ Days Loans Loans
30-59 60-89 excldg f/c,REO in in
Days Days & Bkrptcy REO Foreclosure
<S> <C> <C> <C> <C> <C>
Group 1 Principal Balanc 4,881,174. 614,545 2,149,752.4 206,782 1,693,473.8
% of Pool Balanc 2.3892% 0.3008% 1.0522% 0.1012% 0.8289%
Number of Loans 84 13 34 2 26
% of Loans 2.5862% 0.4002% 1.0468% 0.0616% 0.8005%
Group 2 Principal Balanc 1,612,268. 600,963 167,755. 375,547 1,840,642.5
% of Pool Balanc 2.7905% 1.0401% 0.2903% 0.6500% 3.1858%
Number of Loans 14 3 2 2 15
% of Loans 3.2258% 0.6912% 0.4608% 0.4608% 3.4562%
</TABLE>
<TABLE>
<CAPTION>
<S> <S> <C>
Loans in Bankruptcy: Group 1 1,313,378.30
Group 2 209,869.17
Total 1,523,247.47
Book Value of REO Property: 100,000.00
Scheduled Prin Bal of Loans as of the Prior Dist Date: Group 1 208,029,462.58
Group 2 59,400,855.02
Total 267,430,317.60
Scheduled Prin Bal of Loans as of the Current Dist Date:Group 1 204,303,683.57
Group 2 57,777,255.15
Total 262,080,938.72
Substitution Amount: -
Master Servicing Fee: -
Insured Payments: -
Certificate Insurer Premium Payment: Group 1 18,568.77
Group 2 5,349.78
Total 23,918.55
Number of Loans as of the Current Distribution Date: Group 1 3304
Group 2 442
Total 3746
Number of Loans as of the Next Distribution Date: Group 1 3248
Group 2 434
Total 3682
Weighted Average Coupon as of the Current Distribution DGroup 1 10.956198%
Group 2 9.558116%
Both Groups 10.645660%
Weighted Average Coupon as of the Next Distribution DateGroup 1 10.940450%
Group 2 9.554605%
Both Groups 10.634933%
Weighted Average Net Coupon as of the Current Dist Date:Group 1 10.456198%
Group 2 9.058116%
Both Groups 10.145660%
Curtailments included in Current Distribution: Group 1 -
Group 2 -
Total -
Prepayments in Full/Unscheduled recoveries of Principal
included in Current Distribution: Group 1 3,388,818.04
Group 2 1,590,750.81
Total 4,979,568.85
</TABLE>
<TABLE>
SUBORDINATION TRACKING:
<CAPTION>
Prior Subordination Current Specified
Subordinated Increase Realized Subordinated Subordinated
Amount Amount Losses Amount Amount
<S> <C> <C> <C> <C> <C>
Group 1 5,461,049. 306,678 17,72 5,750,000.0 5,750,000.00
Group 2 1,039,565. 360,434 1,400,000.0 1,400,000.00
Total 6,500,614. 667,113 17,72 7,150,000.0 7,150,000.00
</TABLE>
<TABLE>
REALIZED LOSSES TRACKING:
<CAPTION>
Recovered Recovered
Realized Delinquency Servicing
Losses Advances Advances Total
<S> <S> <C> <C> <C> <C>
Group 1 Prior -
Current 17,72 1 17,876.17
Cumulative 17,72 1 17,876.17
Group 2 Prior 32,78 32,785.11
Current -
Cumulative 32,78 32,785.11
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 188,942.42
Principal Collected: 5,331,651.03
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 2,081,022.18
Purchase Proceeds: -
Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 6,173.88
Capitalized Interest Requirement: -
Pre-Funding Account: N/A
Sum of the Above Amounts: 7,607,789.51
LESS:
Servicing Fees (including PPIS): 20,004.07
Dealer Reserve: -
Trustee Fees: 2,174.41
Insurance Premiums: 23,918.55
Reimbursement of Delinquency Advances: -
Reimbursements of Servicing Advances: 148.32
Total Reductions to Available Funds Amount: 46,245.35
Total Available Funds: 7,561,544.1
</TABLE>
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