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Previous: ADVANTA MORTGAGE CONDUIT SERVICES INC, 8-K, 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 1996-2
New York 33-95006 33-0714465
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 1996-2
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 May 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 1996-2, Class A issued by the
ADVANTA Home Equity Loan Trust 1996-2.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the September, 1996 Monthly
Period relating to the Home Equity Loan Pass-Through
Certificates, Series 1996-2, Class A issued by the
ADVANTA Home Equity Loan Trust 1996-2.
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 1996-2
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 1996-2
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
A-1 92,819,000.0 79,817,355.1 448,307 2,335,796.9 2,784,104.45
A-2 56,572,000.0 56,572,000.0 331,417 331,417.63
A-3 36,642,000.0 36,642,000.0 227,180 227,180.40
A-4 19,406,000.0 19,406,000.0 125,330 125,330.42
A-5 29,561,000.0 29,561,000.0 199,044 199,044.07
A-6 65,000,000.0 60,668,976.5 298,415 2,021,002.6 2,319,418.20
RS -
Totals 300,000,000.00 282,667,331.73 1,629,695. 4,356,799.6 5,986,495.17
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A-1 77,481,558.2 6.740000% 6.740000%
A-2 56,572,000.0 7.030000% 7.030000%
A-3 36,642,000.0 7.440000% 7.440000%
A-4 19,406,000.0 7.750000% 7.750000%
A-5 29,561,000.0 8.080000% 8.080000%
A-6 58,647,973.8 5.902500% 5.777500%
RS 0.000000% 0.000000%
Totals 278,310,532.09
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A-1 00755WCF1 859.924748 4.829911 25.165074 29.994985 834.759674
A-2 00755WCG9 1000 5.858333 0 5.858333 1000
A-3 00755WCH7 1000 6.2 0 6.2 1000
A-4 00755WCJ3 1000 6.458334 0 6.458334 1000
A-5 00755WCK0 1000 6.733333 0 6.733333 1000
A-6 00755WCL8 933.36887 4.591008 31.092349 35.683357 902.276521
RS 0 0 0 0 0
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Delinquency Advances made: 591,431.21
Accrued Servicing Fee for the Current Pe 119,217.47
Plus additional Servicing Fees: -
Less permitted reductions to Servicing F -
Total Servicing Fees due Master Servicer: 119,217.47
Actual collected Servicing Fees for current period: 91,971.92
</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 3,779,575. 2,394,141. 697,699. 1,067,644.0
% of Pool Balanc 1.6985% 1.0759% 0.3135% 0.0000% 0.4798%
Number of Loans 78 22 15 0 17
% of Loans 2.1429% 0.6044% 0.4121% 0.0000% 0.4670%
Group 2 Principal Balanc 1,047,019. 476,686 233,840. 407,594.
% of Pool Balanc 1.7451% 0.7945% 0.3898% 0.0000% 0.6794%
Number of Loans 11 5 3 0 3
% of Loans 2.0446% 0.9294% 0.5576% 0.0000% 0.5576%
</TABLE>
<TABLE>
<CAPTION>
<S> <S> <C>
Loans in Bankruptcy: Group 1 763,951.64
Group 2 67,790.66
Total 831,742.30
Book Value of REO Property: -
Scheduled Prin Bal of Loans as of the Prior Dist Date: Group 1 224,305,907.02
Group 2 61,816,032.47
Total 286,121,939.49
Scheduled Prin Bal of Loans as of the Current Dist Date:Group 1 222,529,777.37
Group 2 59,997,178.19
Total 282,526,955.56
Substitution Amount: -
Master Servicing Fee: -
Insured Payments: -
Certificate Insurer Premium Payment: Group 1 20,349.85
Group 2 5,561.32
Total 25,911.17
Number of Loans as of the Current Distribution Date: Group 1 3672
Group 2 555
Total 4227
Number of Loans as of the Next Distribution Date: Group 1 3640
Group 2 538
Total 4178
Weighted Average Coupon as of the Current Distribution DGroup 1 10.715209%
Group 2 10.315207%
Both Groups 10.628789%
Weighted Average Coupon as of the Next Distribution DateGroup 1 10.709887%
Group 2 10.307084%
Both Groups 10.624348%
Weighted Average Net Coupon as of the Current Dist Date:Group 1 10.215209%
Group 2 9.815207%
Both Groups 10.128789%
Curtailments included in Current Distribution: Group 1 -
Group 2 52.29
Total 52.29
Prepayments in Full/Unscheduled recoveries of Principal
included in Current Distribution: Group 1 1,360,792.35
Group 2 1,788,816.64
Total 3,149,608.99
</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 2,307,551. 559,667 2,867,219.1 6,815,000.00
Group 2 1,147,055. 202,148 1,349,204.3 2,600,000.00
Total 3,454,607. 761,815 4,216,423.4 9,415,000.00
</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 -
Cumulative -
Group 2 Prior -
Current -
Cumulative -
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 1,915,598.04
Principal Collected: 3,594,983.93
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 591,431.21
Purchase Proceeds: -
Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 4,749.43
Capitalized Interest Requirement: -
Pre-Funding Account: N/A
Sum of the Above Amounts: 6,106,762.61
LESS:
Servicing Fees (including PPIS): 91,971.92
Dealer Reserve: -
Trustee Fees: 2,384.35
Insurance Premiums: 25,911.17
Reimbursement of Delinquency Advances: -
Reimbursements of Servicing Advances: -
Total Reductions to Available Funds Amount: 120,267.44
Total Available Funds: 5,986,495.1
</TABLE>
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