-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RCS5l5WDHxPz/s21h5/CQkdFOTTKgj8uE1DeGBMXNihJ/E5Bcw6Td+Q+v3APzw1o mriVzQqtHkiojZ/Db5Z83g== 0001019965-99-000108.txt : 19990311 0001019965-99-000108.hdr.sgml : 19990311 ACCESSION NUMBER: 0001019965-99-000108 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASSOCIATES HOME EQUITY LOAN TRUST 1998-1 CENTRAL INDEX KEY: 0001057332 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 752751093 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: SEC FILE NUMBER: 333-39649-04 FILM NUMBER: 99561669 BUSINESS ADDRESS: STREET 1: ASSOCIATES HOME EQUITY RECEIVABLES CORP STREET 2: 250 EAST CARPENTER FREEWAY CITY: IRVING STATE: TX ZIP: 75062 BUSINESS PHONE: 9726524000 MAIL ADDRESS: STREET 1: 3 WORLD FINANCIAL CENTER STREET 2: 24TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10285 FORMER COMPANY: FORMER CONFORMED NAME: LEHMAN ABS CORP ASSOC HOME EQTY LN ASSET BAC CER SER 1998-1 DATE OF NAME CHANGE: 19980309 10-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (Mark One) [ x ] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended DECEMBER 31, 1998 ______________________ or [ ] Transition Report Pursuant to Section 13 or 15d of the Securities Exchange Act of 1934 For the transition period from _____________ to ________ Commission file Number 333-3964904 Associates Home Equity Loan Trust 1998-1 (Exact name of registrant as specified in its charter) Texas 75-2751093 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) Associates Home Equity Receivables Corporation 250 East Carpenter Freeway Irving, TX 75062 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (972) 652-4000 Securities registered pursuant to Section 12(b) of the Act NONE Securities registered pursuant to Section 12(g) of the Act NONE Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes No PART I Item 2. Properties Not Applicable on reliance of Relief Letters Item 3. Legal Proceedings There were no legal proceedings. Item 4. Submission of Matters to a Vote of Security Holders There were no matters submitted to a vote of the Security Holders. PART II Item 5. Market for Registrant's Common Equity and Related Stockholder matters The following were Noteholders and Certificateholders of record as of the end of the reporting year. Associates Home Equity Loan Trust Series 1998-1 Class A-1 Cede & Co. Series 1998-1 Class A-2 Cede & Co. Series 1998-1 Class A-3 Cede & Co. Series 1998-1 Class A-4 Cede & Co. Series 1998-1 Class A-5 Cede & Co. Series 1998-1 Class M-1 Cede & Co. Series 1998-1 Class M-2 Cede & Co. Series 1998-1 Class B Cede & Co. There is no established public trading market for the notes. Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures: Information required by Item 304 of Reg. S-K. There were no changes in and/or disagreements with Accountants on Accounting and Financial Disclosures. PART IV Item 12. Security Ownership of Certain Beneficial Owners and Management The Notes are represented by one or more notes registered in the name of of Cede & Co., the nominee of The Depository Trust Company. An investor holding Notes is not entitled to receive a certificate representing such Note, except in limited circumstances. Accordingly, Cede & Co. is the sole holder of Notes, which it holds on behalf of brokers, dealers, banks and other participants in the DTC system. Such participants may hold Notes for their own accounts or for the accounts of their customers. The address of Cede & Co. is: Cede & Co. c/o The Depository Trust Company Seven Hanover Square New York, New York 10004 Item 13. Certain Relationships and Related Transactions. There has not been, and there is not currently proposed, any transactions or series or transactions, to which any of the Trust, the Registrant, the Trustee or the Servicer is a party with any Noteholder who, to the knowledge of the Registrant and Servicer, owns of record or beneficially more than five percent of the Notes. Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K (a) 1. Not Applicable 2. Not Applicable 3. Exhibits 99.1 Annual Summary Statement 99.2 Annual Statement as to Compliance. 99.3 Annual Independent Public Accountant's Servicing Report. (b) Reports on Form 8-K The Registrant has filed Current Reports on Form 8-K with the Securities and Exchange Commision dated March 16, 1998; April 15, 1998; May 15, 1998; June 15, 1998; July 15, 1998; August 15, 1998; September 15, 1998; October 15, 1998; November 16, 1998 and December 15, 1998 (c) See (a) 3 above (d) Not Applicable SIGNATURES Pursuant to the requirements of Section 13 or 15(d) 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. Associates Home Equity Loan Trust 1998-1 /s/ Marvin T. Runyon Marvin T. Runyon Senior Vice President Date March 23, 1999 EXHIBIT INDEX Exhibit Number Description 99.1 Annual Summary Statement 99.2 Annual Statement of Compliance 99.3 Report of Independent Accountants EXHIBIT 99.1 -- Summary of Aggregate Amounts or End of Year Amounts for the period ending December 31, 1998 Associates Home Equity Loan Trust 1998-1 Summary of Aggregate Amounts or End of Year Amounts Pool Balance 164,109,078.50 Principal Collections 146,249,578.44 Interest Collections 30,746,639.66 Realized Losses 35,891.26 Servicer Fees 922,325.95 Percentage Number Balance 31- 59 Deliquent 2.89408% 71 4,183,235.30 61 - 89 Deliquent 0.4901% 8 436,433.90 90 or more Deliqu 0.90104% 33 1,964,496.82 Certificate Balance Interest Principal Class A-1 16,262,679.89 12,157,859.01 70,177,320.11 Class A-2 13,501,000.00 12,157,859.01 0.00 Class A-3 57,029,000.00 12,157,859.01 0.00 Class A-4 21,542,000.00 12,157,859.01 0.00 Class A-5 23,489,000.00 12,157,859.01 0.00 Class M-1 12,919,000.00 12,157,859.01 0.00 Class M-2 11,157,000.00 12,157,859.01 0.00 Class B 8,808,000.00 12,157,859.01 0.00 EXHIBIT 99.2 -- Servicer's Annual Statement of Compliance To be supplied upon receipt by the Trustee EXHIBIT 99.3 -- Report of Independent Auditors To be supplied upon receipt by the Trustee -----END PRIVACY-ENHANCED MESSAGE-----