-----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, VaVoydtDM6+rVBNwDik6zP/1pGTY69WM2lWWlo7NGQxhErQzCbEE9e7FAryxqu7O WZgu8ytZOCvR8ZsLsljjGQ== 0000950144-03-009200.txt : 20030801 0000950144-03-009200.hdr.sgml : 20030801 20030801154335 ACCESSION NUMBER: 0000950144-03-009200 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030630 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030801 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MONEY STORE ASSET BACKED CERTIFICATES SERIES 1998-B CENTRAL INDEX KEY: 0001070935 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-58128-A8 FILM NUMBER: 03818065 BUSINESS ADDRESS: STREET 1: 2840 MORRIS AVENUE STREET 2: ATTN: INVESTOR REPORTING CITY: UNION STATE: NJ ZIP: 07083 BUSINESS PHONE: 9164465000 MAIL ADDRESS: STREET 1: PO BOX 997124 STREET 2: ATTN: INVESTOR REPORTING CITY: SACRAMENTO STATE: CA ZIP: 95899 8-K 1 g84011e8vk.htm THE MONEY STORE TRUST, SERIES 1998-B The Money Store Trust, Series 1998-B
 

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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 report June 16, 2003

First Union National Bank (as Representative under a Pooling and
Servicing Agreement dated as of July 31, 1998 providing for the issuance
of The Money Store Trust, Series 1998-B) and each of the Originators
listed on Schedule A attached hereto.
(Exact name of registrant as specified in its charter)

         
*   333-32775   *

 
 
(State or other jurisdiction   (Commission   (IRS Employer
of incorporation)   File Number)   ID Number)

c/o Wachovia Bank, 401 South Tryon Street — NC1179 Charlotte, NC 28288
(Address of principal executive officer)

Registrant’s Telephone Number, including area code: (704) 383-9568

 

(Former name or former address, if changed since last report)

*        See Schedule A

 


 

     
Item 5   Other Events
     
    The Servicer has and continues to adjust its servicing policies to meet the requirements of regulatory agencies, as provided for in the Pooling and Servicing Agreement. The Issuer will disclose such policies that materially and adversely effect the Certificateholders.
     
    Attached herein as Exhibit 20.1 hereto is a copy of the Monthly Statement sent to Class A Certificate holders with respect to the June 16, 2003 Remittance Date.
     
Item 7   Financial Statements and Exhibits

Item 601 (a) of Regulation
S-K Exhibit Number

20.1 Monthly statement to Class A Certificate holders with respect to the June 16, 2003 Remittance Date.

 


 

SIGNATURES

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.

WACHOVIA BANK, NATIONAL ASSOCIATION

     
By: \s\ Robert Ashbaugh    
Name: Robert Ashbaugh    
Title: Vice President   Dated: June 30, 2003

 


 

Exhibit Index

20.1 Monthly statement sent to Class A Certificate holders with respect to the June 16, 2003 Remittance Date.

 


 

Schedule A

         
    State of   IRS Employer
Registrant   Incorporation   ID Number

 
 
TMS Mortgage Inc.   New Jersey   22-3217781
The Money Store/D.C. Inc.   D.C.   22-2133027
The Money Store/Kentucky Inc.   Kentucky   22-2459832
The Money Store Home Equity Corp.   Kentucky   22-2522232
The Money Store/Minnesota Inc.   Minnesota   22-3003495

  EX-20.1 3 g84011exv20w1.htm MONTHLY STATEMENT Monthly Statement

 

       
Wachovia Logo The Money Store Asset Backed Certificates   Record Date: 05/31/03
Series 1998-B   Determination Date: 06/11/03
Statement To Certificateholder   Distribution Date: 06/16/03
    A
                                                                     
                Original     Beginning                     Current             Ending  
        Certificate     Certificate     Certificate                     Realized     Total     Certificate  
Class   Cusip   Rate     Balance     Balance     Interest     Principal     Loss     Distribution     Balance  

 
 
   
   
   
   
   
   
   
 
AF-1   n/a     6.29000 %     88,000,000.00       0.00       0.00       0.00       0.00       0.00       0.00  
Factors per                                                                    
Thousand                                 0.00000000       0.00000000               0.00000000       0.00000000  
AF-2   60935BDS5     6.11500 %     65,000,000.00       0.00       0.00       0.00       0.00       0.00       0.00  
Factors per                                                                    
Thousand                                 0.00000000       0.00000000               0.00000000       0.00000000  
AF-3   60935BDT3     6.04000 %     132,000,000.00       0.00       0.00       0.00       0.00       0.00       0.00  
Factors per                                                                    
Thousand                                 0.00000000       0.00000000               0.00000000       0.00000000  
AF-4   60935BDU0     6.11500 %     50,000,000.00       0.00       0.00       0.00       0.00       0.00       0.00  
Factors per                                                                    
Thousand                                 0.00000000       0.00000000               0.00000000       0.00000000  
AF-5   60935BDV8     6.22500 %     35,000,000.00       0.00       0.00       0.00       0.00       0.00       0.00  
Factors per                                                                    
Thousand                                 0.00000000       0.00000000               0.00000000       0.00000000  
AF-6   60935BDW6     6.31500 %     48,000,000.00       28,718,424.68       151,130.71       3,091,964.96       0.00       3,243,095.67       25,626,459.72  
Factors per                                                                    
Thousand                                 3.14855646       64.41593667               67.56449313       533.88457250  
AF-7   60935BDX4     6.65000 %     52,969,000.00       52,969,000.00       293,536.54       0.00       0.00       293,536.54       52,969,000.00  
Factors per                                                                    
Thousand                                 5.54166664       0.00000000               5.54166664       1000.00000000  
AF-8   60935BDY2     6.11000 %     29,000,000.00       16,405,403.27       83,530.84       533,949.23       0.00       617,480.07       15,871,454.04  
Factors per                                                                    
Thousand                                 2.88037379       18.41204241               21.29241621       547.29151862  
AF-9   60935BDZ9     6.33500 %     23,329,000.00       23,329,000.00       123,157.68       0.00       0.00       123,157.68       23,329,000.00  
Factors per                                                                    
Thousand                                 5.27916670       0.00000000               5.27916670       1000.00000000  
Pool I                 523,298,000.00       121,421,827.95       651,355.77       3,625,914.19       0.00       4,277,269.96       117,795,913.76  
Totals                                 5.36440435       29.86212818               35.22653243       225.10293133  
A-V   60935BEA3     1.33000 %     524,381,000.00       71,896,563.95       77,029.18       3,147,135.03       0.00       3,224,164.21       68,749,428.92  
Factors per                                                                    
Thousand                                 0.14689544       6.00161911               6.14851455       131.10587325  
Pool II                 524,381,000.00       71,896,563.95       77,029.18       3,147,135.03       0.00       3,224,164.21       68,749,428.92  
Totals                                 0.14689544       6.00161911               6.14851455       131.10587325  
     
The Bank of New York   Carol Frank
Structured Finance Services   212-815-6093
101 Barclay Street, 8W   cafrank@bankofny.com
New York, New York 10286    

 


 

       
Wachovia Logo The Money Store Asset Backed Certificates   Record Date: 05/31/03
Series 1998-B   Determination Date: 06/11/03
Statement To Certificateholder   Distribution Date: 06/16/03
    A
                                                                     
                Original     Beginning                     Current             Ending  
        Certificate     Certificate     Certificate                     Realized     Total     Certificate  
Class   Cusip   Rate     Balance     Balance     Interest     Principal     Loss     Distribution     Balance  

 
 
   
   
   
   
   
   
   
 
AH-1   60935BEB1     6.14500 %     78,226,000.00       0.00       0.00       0.00       0.00       0.00       0.00  
Factors per                                                                    
Thousand                                 0.00000000       0.00000000               0.00000000       0.00000000  
AH-2   60935BEC9     6.00000 %     14,086,000.00       0.00       0.00       0.00       0.00       0.00       0.00  
Factors per                                                                    
Thousand                                 0.00000000       0.00000000               0.00000000       0.00000000  
AH-3   60935BED7     6.07000 %     25,358,000.00       0.00       0.00       0.00       0.00       0.00       0.00  
Factors per                                                                    
Thousand                                 0.00000000       0.00000000               0.00000000       0.00000000  
AH-4   60935BEE5     6.17500 %     11,345,000.00       0.00       0.00       0.00       0.00       0.00       0.00  
Factors per                                                                    
Thousand                                 0.00000000       0.00000000               0.00000000       0.00000000  
AH-5   60935BEF2     6.32500 %     9,470,000.00       0.00       0.00       0.00       0.00       0.00       0.00  
Factors per                                                                    
Thousand                                 0.00000000       0.00000000               0.00000000       0.00000000  
AH-6   60935BEG0     6.55000 %     13,002,000.00       0.00       0.00       0.00       0.00       0.00       0.00  
Factors per                                                                    
Thousand                                 0.00000000       0.00000000               0.00000000       0.00000000  
MH-1   60935BEH8     6.60000 %     15,899,000.00       9,362,774.60       51,495.26       0.00       0.00       51,495.26       9,362,774.60  
Factors per                                                                    
Thousand                                 3.23889930       0.00000000               3.23889930       588.89078558  
MH-2   60935BEJ4     7.06000 %     14,955,000.00       9,040,929.23       53,190.80       0.00       0.00       53,190.80       9,040,929.23  
Factors per                                                                    
Thousand                                 3.55672350       0.00000000               3.55672350       604.54224206  
BH   60935BEK1     7.89500 %     16,396,000.00       12,550,638.93       82,572.75       1,084,881.49       0.00       1,167,454.24       11,465,757.44  
Factors per                                                                    
Thousand                                 5.03615211       66.16744877               71.20360088       699.30218271  
Pool III                 198,737,000.00       30,954,342.76       187,258.81       1,084,881.49       0.00       1,272,140.30       29,869,461.27  
Totals                                 0.94224432       5.45888028               6.40412460       150.30  
X   n/a     0.00000 %     0.00       0.00       0.00       0.00       0.00       0.00       0.00  
R   n/a     0.00000 %     0.00       0.00       0.00       0.00       0.00       0.00       0.00  
Totals                 1,246,416,000.00       224,272,734.66       915,643.76       7,857,930.71       0.00       8,773,574.47       216,414,803.95  
     
Wells Fargo Bank Minnesota, N. A.   Customer Service — CTSLink
Securities Administration Services   Telephone: 301-815-6600
7485 New Horizon Way   Fax: 301-846-8152
Frederick, MD 21703    

 


 

       
Wachovia Logo The Money Store Asset Backed Certificates   Record Date: 05/31/03
Series 1998-B   Determination Date: 06/11/03
Statement To Certificateholder   Distribution Date: 06/16/03
    A

Certificate Information

Pool I

                         
    Interest     Carry Forward     Monthly Advance  
    Requirement     Amount     for Bankruptcy  
   
   
   
 
AF-1
    0.00       0.00       0.00  
AF-2
    0.00       0.00       0.00  
AF-3
    0.00       0.00       0.00  
AF-4
    0.00       0.00       0.00  
AF-5
    0.00       0.00       0.00  
AF-6
    151,130.71       0.00       0.00  
AF-7
    293,536.54       0.00       0.00  
AF-8
    83,530.84       0.00       0.00  
AF-9
    123,157.68       0.00       0.00  
 
Pool II
 
AV
    77,029.18       0.00       0.00  
     
The Bank of New York   Carol Frank
Structured Finance Services   212-815-6093
101 Barclay Street, 8W   cafrank@bankofny.com
New York, New York 10286    

 


 

       
Wachovia Logo The Money Store Asset Backed Certificates   Record Date: 05/31/03
Series 1998-B   Determination Date: 06/11/03
Statement To Certificateholder   Distribution Date: 06/16/03
    A

Certificate Information

Pool III

                                           
      Interest     Carry Forward     Monthly Advance     Applied Realized     Unapplied Realized  
      Requirement     Amount     for Bankruptcy     Loss Amount     Loss Amount  
     
   
   
   
   
 
AH-1
    0.00       0.00       0.00       0.00       0.00  
AH-2
    0.00       0.00       0.00       0.00       0.00  
AH-3 
    0.00       0.00       0.00       0.00       0.00  
AH-4
    0.00       0.00       0.00       0.00       0.00  
AH-5
    0.00       0.00       0.00       0.00       0.00  
AH-6
    0.00       0.00       0.00                  
MH-1
    51,495.26       0.00       0.00       0.00       0.00  
MH-2
    53,190.80       0.00       0.00       0.00       0.00  
 
BH
    82,572.75       0.00       0.00       0.00       0.00  
     
Wells Fargo Bank Minnesota, N. A   Customer Service — CTSLink
Securities Administration Services   Telephone: 301-815-6600
7485 New Horizon Way   Fax: 301-846-8152
Frederick, MD 21703    

 


 

       
Wachovia Logo The Money Store Asset Backed Certificates   Record Date: 05/31/03
Series 1998-B   Determination Date: 06/11/03
Statement To Certificateholder   Distribution Date: 06/16/03
    A

Pool I

         
Schedule of Remittance
       
Aggregate Amount Received
    4,776,928.45  
 
       
Monthly Advance
    35,139.15  
(Unreimbursed Monthly Advance)
    0.00  
(Servicer Fee)
    (26,047.16 )
(Contingency Fee)
    (26,047.16 )
(Late Charges)
    (23,568.08 )
(Escrow)
    (108,486.87 )
(Excess Spread)
    (428,184.90 )
(Subordination Reduction Amount)
    0.00  
 
 
 
 
    (577,195.03 )
 
       
Available Remittance Amount
    4,199,733.42  
 
 
 

EXHIBIT O

           
Outstanding Balance
  $ 125,324,055.61  
 
# Accounts
    2,909  
         
Fees
       
Contingency Fee
    26,047.16  
Expense Account
    1,290.81  
Insurance Fee
    10,371.45  
Servicer Fee
    26,047.16  
Trust Administrator Fee
    915.35  

Prior Three Months Weighted Average Mortgage Interest Rates

                 
3/03   4/03     5/03  

 
   
 
10.616
%   10.619 %     10.626 %
                         
Delinquent Infor.   # Loans     Amount     Percentage  

 
   
   
 
Delinquent 1-29 Days
    339       14,256,046.91       11.38 %
Delinquent 30-59 Days
    84       3,353,590.89       2.68 %
Delinquent 60-89 Days
    25       1,027,615.17       0.82 %
Delinquent 90 and over
    84       4,268,509.20       3.41 %
Loans in Foreclosure
    184       9,790,357.23       7.81 %
REO Property
    65       3,026,622.37       2.42  
 
 
   
   
 
Totals
    781       35,722,741.77       28.50  
 
 
   
   
 
     
The Bank of New York    
Structured Finance Services   Carol Frank
101 Barclay Street, 8W   212-815-6093
New York, New York 10286   cafrank@bankofny.com

 


 

       
Wachovia Logo The Money Store Asset Backed Certificates   Record Date: 05/31/03
Series 1998-B   Determination Date: 06/11/03
Statement To Certificateholder   Distribution Date: 06/16/03
    A

Pool I

                   
Collateral Information                

               
Adjusted Mortgage Interest Rate
            10.018 %
Aggregate Beginning Principal Balance of Loans
            129,225,568.15  
Aggregate Ending Principal Balance of Loans
            125,324,055.61  
Class X Distribution from Pool I
            0.00  
Compensating Interest
            579.48  
Curtailments
            277,153.61  
Excess and Monthly Payments
            330,953.02  
Insured Payment
            0.00  
Interest Received
            1,108,157.41  
Monthly Excess Spread Percentage
            100 %
Payments And Reimbursements to the Servicers Pursuant to:
               
 
Section 5.04(b)
            0.00  
 
Section 5.04(c)
            0.00  
 
Section 5.04(d)(ii)
            0.00  
 
Section 5.04(e)
            0.00  
 
Section 5.04(f)(I)
            52,094.32  
Principal Prepayments (Number / Amount)
    64       2,859,361.91  
Realized Losses (Current / Cumulative)
    434,044.00       27,090,944.47  
Specified Subordinated Amount
            7,528,141.85  
Subordinated Amount
            7,369,696.20  
WAC
            10.633 %
WAM
            227.69  
Weighted Average Adjusted Mortgage Loan Remittance Rate
            6.553 %
     
The Bank of New York    
Structured Finance Services   Carol Frank
101 Barclay Street, 8W   212-815-6093
New York, New York 10286   cafrank@bankofny.com

 


 

       
Wachovia Logo The Money Store Asset Backed Certificates   Record Date: 05/31/03
Series 1998-B   Determination Date: 06/11/03
Statement To Certificateholder   Distribution Date: 06/16/03
    A

Pool II

         
Schedule of Remittance        

       
Aggregate Amount Received
    3,032,726.29  
 
       
Monthly Advance
    23,466.80  
(Unreimbursed Monthly Advance)
    0.00  
(Servicer Fee)
    (16,325.65 )
(Contingency Fee)
    (16,325.65 )
(Late Charges)
    (17,739.92 )
(Escrow)
    (113,120.26 )
(Excess Spread)
    (363,025.00 )
(Subordination Reduction Amount)
    0.00  
 
 
 
 
    (703,069.75 )
 
       
Available Remittance Amount
    2,329,656.54  
 
 
 

EXHIBIT O

           
Outstanding Balance
  $ 79,649,316.86  
 
# Accounts
    1,133  
         
Fees        

       
Contingency Fee
    16,325.65  
Expense Account
    763.90  
Insurance Fee
    6,740.30  
Servicer Fee
    16,325.65  
Trust Administrator Fee
    582.09  

Prior Three Months Weighted Average Mortgage Interest Rates

                 
3/03   4/03     5/03  

 
   
 
10.008
%   9.990 %     9.974 %
                         
Delinquent Infor.   # Loans     Amount     Percentage  

 
   
   
 
Delinquent 1-29 Days
    102       6,953,913.08       8.73 %
Delinquent 30-59 Days
    29       2,161,293.02       2.71 %
Delinquent 60-89 Days
    10       610,290.22       0.77 %
Delinquent 90 and over
    57       4,734,692.34       5.94 %
Loans in Foreclosure
    108       8,635,536.45       10.84 %
REO Property
    45       3,327,346.47       4.18 %
 
 
   
   
 
Totals
    351       26,423,091.58       33.17 %
 
 
   
   
 
     
The Bank of New York    
Structured Finance Services   Carol Frank
101 Barclay Street, 8W   212-815-6093
New York, New York 10286   cafrank@bankofny.com

 


 

       
Wachovia Logo The Money Store Asset Backed Certificates   Record Date: 05/31/03
Series 1998-B   Determination Date: 06/11/03
Statement To Certificateholder   Distribution Date: 06/16/03
    A

Pool II

                   
Collateral Information
Adjusted Mortgage Interest Rate
            9.341 %
Aggregate Beginning Principal Balance of Loans
            82,177,468.04  
Aggregate Ending Principal Balance of Loans
            79,649,316.86  
Class X Distribution from Pool II
            0.00  
Compensating Interest
            3,529.75  
Curtailments
            304,466.43  
Excess and Monthly Payment
            63,853.64  
Insured Payment
            0.00  
Interest Received
            636,742.95  
Interest Shortfall from Net Funds Cap Usage (A10)
           
Monthly Excess Spread Percentage
            100 %
Net Funds Cap (Rate)
            8.831 %
Payments And Reimbursements to the Servicers Pursuant to:
               
 
Section 5.04(b)
            0.00  
 
Section 5.04(c)
            0.00  
 
Section 5.04(d)(ii)
            0.00  
 
Section 5.04(e)
            0.00  
 
Section 5.04(f)(I)
            32,651.30  
Principal Prepayments (Number / Amount)
    20       1,858,451.13  
Realized Losses (Current / Cumulative)
    301,379.98       23,287,075.78  
Specified Subordinated Amount
            10,954,295.30  
Subordinated Amount
            9,979,524.11  
WAC
            9.956 %
WAM
            298.11  
Weighted Average Adjusted Mortgage Loan Remittance Rate
            1.455 %
     
The Bank of New York    
Structured Finance Services   Carol Frank
101 Barclay Street, 8W   212-815-6093
New York, New York 10286   cafrank@bankofny.com

 


 

       
Wachovia Logo The Money Store Asset Backed Certificates   Record Date: 05/31/03
Series 1998-B   Determination Date: 06/11/03
Statement To Certificateholder   Distribution Date: 06/16/03
    A

Pool III

         
Schedule of Remittance        

       
Aggregate Amount Received
    1,297,077.49  
 
       
Monthly Advance
    6,201.08  
(Unreimbursed Monthly Advance)
    0.00  
(Servicer Fee)
    (6,679.86 )
(Contingency Fee)
    (6,679.86 )
(Late Charges)
    (6,565.91 )
(Escrow)
    (8,990.61 )
(Excess Spread)
    (190,418.20 )
(Subordination Reduction Amount)
    0.00  
 
 
 
 
    (213,133.36 )
 
       
Available Remittance Amount
    1,083,944.13  
 
 
 

EXHIBIT O

           
Outstanding Balance
  $ 31,884,770.02  
 
# Accounts
    2,107  
         
Fees        

       
Contingency Fee
    6,679.86  
Expense Account
    515.91  
FHA Premium Account
    1,706.12  
FHA Custodian Fee
    13.69  
Reimbursable to the Servicer — FHA Account
    7,609.01  
Servicer Fee
    6,679.87  
Trust Administrator Fee
    396.98  

Prior Three Months Weighted Average Mortgage Interest Rates

                 
3/03   4/03     5/03  

 
   
 
12.875
%   12.871 %     12.855 %
                         
Delinquent Infor.   # Loans     Amount     Percentage  

 
   
   
 
Delinquent 1-29 Days
    404       6,696,953.19       21.00 %
Delinquent 30-59 Days
    83       1,357,725.29       4.26 %
Delinquent 60-89 Days
    23       415,503.65       1.30 %
Delinquent 90 and over
    33       614,499.68       1.93 %
Loans in Foreclosure
    40       778,944.69       2.44 %
REO Property
    7       170,187.94       0.53 %
 
 
   
   
 
Totals
    590       10,033,814.44       31.47 %
 
 
   
   
 
     
Wells Fargo Bank Minnesota, N. A.   Customer Service — CTSLink
Securities Administration Services   Telephone: 301-815-6600
7485 New Horizon Way   Fax: 301-846-8152
Frederick, MD 21703    

 


 

       
Wachovia Logo The Money Store Asset Backed Certificates   Record Date: 05/31/03
Series 1998-B   Determination Date: 06/11/03
Statement To Certificateholder   Distribution Date: 06/16/03
    A

Pool III

                   
Collateral Information
               
Accelerated Principal Distribution
            190,418.20  
Adjusted Mortgage Interest Rate
            12.336 %
Aggregate Beginning Principal Balance of Loans
            32,853,286.13  
Aggregate Ending Principal Balance of Loans
            31,884,770.02  
Class X Distribution from Pool III
            0.00  
Compensating Interest
            98.40  
Curtailments
            32,428.06  
Deposit to Spread Account due to Trigger Activation
            1.00  
Excess and Monthly Payment
            135,305.24  
FHA Claims Denied
            0.00  
FHA Claims Filed
            0.00  
FHA Claims Paid
            0.00  
FHA Claims Pending
            0.00  
FHA Payments Received
            0.00  
Interest Received
            345,246.34  
Maximum Subordinated Amount
            7,334,266.00  
Monthly Excess Spread Percentage
            100 %
Payments And Reimbursements to the Servicers Pursuant to:
               
 
Section 5.04(b)
            0.00  
 
Section 5.04(c)
            0.00  
 
Section 5.04(d)(ii)
            0.00  
 
Section 5.04(e)
            0.00  
 
Section 5.04(f)(I)
            13,359.73  
Principal Prepayments (Number / Amount)
    53       726,729.99  
Realized Losses (Current / Cumulative)
    74,052.82       29,237,160.51  
Reserve Amount
            0.00  
Senior Percentage / Class B Percent
    100.00 %     0.00 %
Specified Subordinated Amount
            7,256,150.32  
Subordinated Amount
            1,824,890.55  
Trigger in Effect (Yes/No)
        Yes  
WAC
            12.849 %
WAM
            164.51  
Weighted Average Adjusted Mortgage Loan Remittance Rate
            8.279 %
     
Wells Fargo Bank Minnesota, N. A.   Customer Service — CTSLink
Securities Administration Services   Telephone: 301-815-6600
7485 New Horizon Way   Fax: 301-846-8152
Frederick, MD 21703    

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