-----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, JPulq7+t70hXUFZ6h9YqN0jBPy/Q4GHG/GpITsSoKBhXZ/ZsE3NPbkOor9A+Nj+J PcuOtTza1HnHb88XYH+iXw== 0000950144-02-011505.txt : 20021112 0000950144-02-011505.hdr.sgml : 20021111 20021112145511 ACCESSION NUMBER: 0000950144-02-011505 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021015 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MONEY STORE TRUST 1998 C CENTRAL INDEX KEY: 0001072682 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-44028-91 FILM NUMBER: 02816844 BUSINESS ADDRESS: STREET 1: 2840 MORRIS AVENUE CITY: UNION STATE: NJ ZIP: 07083 BUSINESS PHONE: 9086862000 MAIL ADDRESS: STREET 1: 2840 MORRIS AVENUE CITY: UNION STATE: NJ ZIP: 07083 8-K 1 g79114e8vk.htm THE MONEY STORE TRUST, SERIES 1998-C e8vk
 

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 October 15, 2002

First Union National Bank

(as Representative under a Sale and
Servicing Agreement dated as of August 31, 1998 providing for the issuance
of The Money Store Trust, Series 1998-C) 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
of incorporation)		   (Commission
File Number) 		  (IRS Employer
ID Number)

c/o First Union National 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 October 15, 2002 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 October 15, 2002 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
   Dated: October 31, 2002
Name:   Robert Ashbaugh  
Title:   Vice President  

 

 

Exhibit Index

20.1 Monthly statement sent to Class A Certificate holders with respect to the October 15, 2002 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 g79114exv20w1.htm MONTHLY STATEMENT exv20w1

 

         
[WACHOVIA LOGO]   The Money Store Asset Backed Certificates
Series 1998-C
Statement To Certificateholder 		  Record Date: 09/30/02
Determination Date: 10/09/02
Distribution Date: 10/15/02
4
                                                                               
                          Original   Beginning                   Current           Ending
                  Certificate   Certificate   Certificate                   Realized   Total   Certificate
Class   Cusip   Rate   Balance   Balance   Interest   Principal   Loss   Distribution   Balance
 
 
 
 
 
 
 
 
 
AF-1
   60935BEL9     2.09313 %     401,250,000.00       135,906,000.00       229,155.52       2,843,000.00       0.00       3,072,155.52       133,063,000.00  
Factors per Thousand
                                     0.57110410       7.08535826               7.65646236       331.62118380  
AF-2
   60935BEM7     1.95000 %     133,750,000.00       45,295,000.00       71,150.90       948,000.00       0.00       1,019,150.90       44,347,000.00  
Factors per Thousand
                                     0.53196935       7.08785047               7.61981981       331.56635514  
Pool I
                     535,000,000.00       181,201,000.00       300,306.42       3,791,000.00       0.00       4,091,306.42       177,410,000.00  
Totals
                                     0.56132041       7.08598131               7.64730172       331.60747664  
A-V
   60935BEN5     2.08313 %     360,000,000.00       85,912,648.88       144,168.04       2,133,313.47       0.00       2,277,481.51       83,779,335.41  
Factors per Thousand
                                     0.40046678       5.92587075               6.32633753       232.72037614  
Pool II
                     360,000,000.00       85,912,648.88       144,168.04       2,133,313.47       0.00       2,277,481.51       83,779,335.41  
Totals
                                     0.40046678       5.92587075               6.32633753       232.72037614  
Totals
                     895,000,000.00       267,113,648.88       444,474.46       5,924,313.47       0.00       6,368,787.93       261,189,335.41  
     
The Bank of New York
Structured Finance Services
101 Barclay Street, 8W
New York, New York 10286		   Karon Greene
Phone: 212-815-6436
Fax: 212-815-8310

 

 

         
[WACHOVIA LOGO]   The Money Store Asset Backed Certificates
Series 1998-C
Statement To Certificateholder 		  Record Date: 09/30/02
Determination Date: 10/09/02
Distribution Date: 10/15/02
4

Certificate Information

                                 
Pool I                                
            Interest   Carry Forward   Monthly Advance
            Requirement   Amount   for Bankruptcy
           
 
 
 
   AF-1     229,155.52       0.00       0.00  
 
   AF-2     71,150.90       0.00       0.00  
Pool II
                                
 
   AV     144,168.04       0.00       0.00  

Rounding Account Activity

                     
        Pool I   Pool II
       
 
   
Prior Withdraw
     1,103.69       0.00  
 
Current Withdraw
     1,252.11       0.00  
 
    
     
 
Net Withdraw/(Deposit)
     (148.42 )     0.00  
 
    
     
 

Other Trust Information

           
Libor   1.82313%
 
Aggregate Spread Account Beginning Balance
     46,599,762.17  
 
Interest Earnings
     44,119.31  
 
Adjustments
     0.00  
 
Deposits to Spread Account
     165,101.09  
 
Withdrawals from Spread Account
     0.00  
Aggregate Ending Spread Account Balance
     46,808,982.56  
Aggregate Interest Earnings
     5,788,898.26  
Aggregate Ending Spread Account Balance less Interest Earnings
     41,020,084.30  
Aggregate Specified Spread Account Requirement
     40,942,500.00  
     
The Bank of New York
Structured Finance Services
101 Barclay Street, 8W
New York, New York 10286		   Karon Greene
Phone: 212-815-6436
Fax: 212-815-8310

 

 

         
[WACHOVIA LOGO]   The Money Store Asset Backed Certificates
Series 1998-C
Statement To Certificateholder 		  Record Date: 09/30/02
Determination Date: 10/09/02
Distribution Date: 10/15/02
4

Pool I

Schedule of Remittance

         
Aggregate Amount Received
     5,121,513.53  
Monthly Advance
     60,340.84  
(Unreimbursed Monthly Advance)
     0.00  
(Servicer Fee)
     (36,270.98 )
(Contingency Fee)
     (36,270.98 )
(Late Charges)
     (61,533.20 )
(Escrow)
     (110,430.69 )
(Excess Spread)
     (1,162,443.75 )
 
    
 
 
     (1,346,608.76 )
Available Remittance Amount
     3,774,904.77  
 
    
 

Fees

         
Contingency Fee
     36,270.98  
Expense Account
     1,698.76  
Insurance Fee
     16,610.00  
Servicer Fee
     36,270.98  

Prior Three Months Weighted Average Mortgage Interest Rates

                 
6/02   7/02   8/02
 
 
10.327%
     10.319 %     10.312 %

Collateral Information

                   
Adjusted Mortgage Interest Rate
             9.685 %
Aggregate Beginning Principal Balance of Loans
             181,243,189.90  
Aggregate Ending Principal Balance of Loans
             177,453,442.00  
Compensating Interest
             4,316.88  
Curtailments
             614,765.52  
Excess and Monthly Payments
             366,361.40  
Interest Received
             1,493,260.05  
Monthly Excess Spread Percentage
             100 %
Payments And Reimbursements to the Servicers Pursuant to:
                
 
Section 4.01(f)
             72,541.96  
Principal Prepayments (Number / Amount)
     60       2,464,927.98  
Realized Losses (Current / Cumulative)
     343,692.99       22,127,259.14  
Certificate Remittance Amount from Pool I
             827,881.76  
WAC
             10.306 %
WAM
             246.19  

Spread Account Information

           
Spread Account Beginning Balance
     24,251,007.38  
 
Interest Earnings
     23,084.16  
 
Adjustments
     0.00  
 
Deposits to Spread Account
     0.00  
 
Withdrawals from Spread Account for Insured Payment
     0.00  
 
Total Withdrawals from Spread Account
     0.00  
Ending Spread Account Balance
     24,274,091.54  
Aggregate Interest Earnings
     3,525,402.89  
Ending Spread Account Balance less Interest Earnings
     20,748,688.65  
Specified Spread Account Requirement
     20,062,500.00  
     
The Bank of New York
Structured Finance Services
101 Barclay Street, 8W
New York, New York 10286		   Karon Greene
Phone: 212-815-6436
Fax: 212-815-8310

 

 

         
[WACHOVIA LOGO]   The Money Store Asset Backed Certificates
Series 1998-C
Statement To Certificateholder 		  Record Date: 09/30/02
Determination Date: 10/09/02
Distribution Date: 10/15/02
4

Pool II

Schedule of Remittance

         
Aggregate Amount Received
     2,567,299.38  
Monthly Advance
     29,102.18  
(Unreimbursed Monthly Advance)
     0.00  
(Servicer Fee)
     (17,263.30 )
(Contingency Fee)
     (17,263.30 )
(Late Charges)
     (27,460.67 )
(Escrow)
     (82,900.69 )
(Excess Spread)
     (542,714.22 )
 
    
 
 
     (658,500.00 )
Available Remittance Amount
     1,908,799.38  
 
    
 

Fees

         
Contingency Fee
     17,263.30  
Expense Account
     1,056.01  
Insurance Fee
     7,875.00  
Servicer Fee
     17,263.30  

Prior Three Months Weighted Average Mortgage Interest Rates

                 
6/02   7/02   8/02
 
 
10.326%
     10.308 %     10.271 %

Collateral Information

                   
Adjusted Mortgage Interest Rate
             9.593 %
Aggregate Beginning Principal Balance of Loans
             85,920,551.19  
Aggregate Ending Principal Balance of Loans
             83,787,237.72  
Compensating Interest
             628.51  
Curtailments
             62,009.24  
Excess and Monthly Payment
             55,277.06  
Interest Received
             701,237.68  
Monthly Excess Spread Percentage
             100 %
Payments And Reimbursements to the Servicers Pursuant to:
                
 
Section 4.01(f)
             34,526.60  
Principal Prepayments (Number / Amount)
     22       1,638,414.04  
Realized Losses (Current / Cumulative)
     377,613.13       15,133,632.87  
Certificate Remittance Amount from Pool II
             0.00  
WAC
             10.218 %
WAM
             309.783  

Spread Account Information

           
Spread Account Beginning Balance
     22,348,754.79  
 
Interest Earnings
     21,035.15  
 
Adjustments
     0.00  
 
Deposits to Spread Account
     165,101.09  
 
Withdrawals from Spread Account
     0.00  
Ending Spread Account Balance
     22,534,891.02  
Aggregate Interest Earnings
     2,263,495.37  
Ending Spread Account Balance less Interest Earnings
     20,271,395.65  
Specified Spread Account Requirement
     20,880,000.00  
     
The Bank of New York
Structured Finance Services
101 Barclay Street, 8W
New York, New York 10286		   Karon Greene
Phone: 212-815-6436
Fax: 212-815-8310

 

 

         
[WACHOVIA LOGO]   The Money Store Asset Backed Certificates
Series 1998-C
Statement To Certificateholder		   Record Date: 09/30/02
Determination Date: 10/09/02
Distribution Date: 10/15/02
4

EXHIBIT L

Pool I

           
Outstanding Balance
     177,453,442.00  
 
# Accounts
     3,697  

Pool II

           
Outstanding Balance
     83,787,237.72  
 
# Accounts
     1,199  
                         
Delinquent Infor.   # Loans   Amount   Percentage
 
 
 
Delinquent 1-29 Days
     474       20,783,821.11       11.71 %
Delinquent 30-59 Days
     108       4,753,434.28       2.68 %
Delinquent 60-89 Days
     41       2,017,237.87       1.14 %
Delinquent 90 and over
     87       4,945,696.45       2.79 %
Loans in Foreclosure
     183       11,309,855.68       6.37 %
REO Property
     86       5,105,105.53       2.88 %
 
    
     
     
 
Totals
     979       48,915,150.92       27.57 %
 
    
     
     
 
                         
Delinquent Infor.   # Loans   Amount   Percentage
 
 
 
Delinquent 1-29 Days
     144       10,447,951.40       12.47 %
Delinquent 30-59 Days
     42       2,490,076.01       2.97 %
Delinquent 60-89 Days
     12       710,461.69       0.85 %
Delinquent 90 and over
     58       4,574,554.94       5.46 %
Loans in Foreclosure
     107       7,415,019.68       8.85 %
REO Property
     45       3,284,896.84       3.92 %
 
    
     
     
 
Totals
     408       28,922,960.56       34.52 %
 
    
     
     
 
     
The Bank of New York
Structured Finance Services
101 Barclay Street, 8W
New York, New York 10286		   Karon Greene
Phone: 212-815-6436
Fax: 212-815-8310
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