-----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, KAv/ax9iM/EAAGRn95GS4uS+5KECvlahg4MKs40csB7AewGiswwL+ACZ6QEne3YQ gJD8+9LqU3dJV4ISHpvjYg== 0001056404-99-000575.txt : 19991018 0001056404-99-000575.hdr.sgml : 19991018 ACCESSION NUMBER: 0001056404-99-000575 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990927 ITEM INFORMATION: FILED AS OF DATE: 19991007 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOLOMON BROS MORT SEC VII INC FL RT MRT PS THR CERT 1999 3 CENTRAL INDEX KEY: 0001086445 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 133439681 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-72647-04 FILM NUMBER: 99724765 BUSINESS ADDRESS: STREET 1: C/O NORWEST BANK MINNESOTA NA STREET 2: 11000 BROKEN LAND PARKWAY CITY: COLUMBIA STATE: MD ZIP: 21044 BUSINESS PHONE: 2128166000 MAIL ADDRESS: STREET 1: 390 GREENWICH STREET STREET 2: 29TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10013 8-K 1 UNITED STATES 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 (Date of earliest event reported): September 27, 1999 SALOMON BROTHERS MORTGAGE SECURITIES VII, INC. Mortgage Pass-Through Certificates, Series 1999-3 Trust New York (governing law of 333-72647-04 52-2175479 Pooling and Servicing Agreement) (Commission 52-2175480 (State or other File Number) 52-2175482 jurisdiction IRS EIN c/o Norwest Bank Minnesota, N.A. 11000 Broken Land Parkway 21044 Columbia, Maryland (Zip Code) (Address of principal executive offices) Registrant's telephone number, including area code: (410) 884-2000 Former name or former address, if changed since last report) ITEM 5. Other Events On September 27, 1999 a distribution was made to holders of SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., Mortgage Pass-Through Certificates, Series 1999-3 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description Monthly report distributed to holders of EX-99.1 Mortgage Pass-Through Certificates, Series 1999-3 Trust, relating to the September 27, 1999 distribution. 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 hereunto duly authorized. SALOMON BROTHERS MORTGAGE SECURITIES VII, INC. Mortgage Pass-Through Certificates, Series 1999-3 Trust By: Norwest Bank Minnesota, N.A., as Trustee By: /s/ Sherri J. Sharps, Vice President By: Sherri J. Sharps, Vice President Date: 10/5/99 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 1999-3 Trust, relating to the September 27, 1999 distribution. EX-99.1 2
Salomon Brothers Mortgage Securities VII, Inc. Mortgage Pass-Through Certificates Record Date: 8/31/99 Distribution Date: 9/27/99 SBMSVII Series: 1999-3 Contact: Customer Service - Columbia, MD Norwest Bank Minnesota, N.A. Securities Administration Services 11000 Broken Land Parkway Columbia, MD 21044 Telephone: (301) 815-6600 Fax: (410) 884-2369 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A 79548KM88 SEN 5.71875% 635,403,235.63 3,330,902.90 23,421,019.67 M1 79548KM96 MEZ 6.11875% 64,906,000.00 364,048.29 0.00 M2 79548KN20 MEZ 6.63875% 39,031,000.00 237,523.96 0.00 M3 79548KN38 MEZ 8.58875% 29,823,000.00 234,797.10 0.00 RI 7956199U1 SEN 0.00000% 0.00 0.00 0.00 RII 7956199V9 SEN 0.00000% 0.00 0.00 0.00 RIII 7956199W7 SEN 0.00000% 0.00 0.00 0.00 P 7956199T4 SEN 0.00000% 100.00 238,213.68 0.00 CE 7956199S6 JUN 0.00000% 47,801,899.70 2,279,920.15 0.00 Totals 816,965,235.33 6,685,406.08 23,421,019.67
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 611,982,215.96 26,751,922.57 0.00 M1 0.00 64,906,000.00 364,048.29 0.00 M2 0.00 39,031,000.00 237,523.96 0.00 M3 0.00 29,823,000.00 234,797.10 0.00 RI 0.00 0.00 0.00 0.00 RII 0.00 0.00 0.00 0.00 RIII 0.00 0.00 0.00 0.00 P 0.00 100.00 238,213.68 0.00 CE 0.00 47,801,900.00 2,279,920.15 0.00 Totals 0.00 793,544,215.96 30,106,425.75 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A 695,549,000.00 635,403,235.63 448,304.95 22,972,714.72 0.00 0.00 M1 64,906,000.00 64,906,000.00 0.00 0.00 0.00 0.00 M2 39,031,000.00 39,031,000.00 0.00 0.00 0.00 0.00 M3 29,823,000.00 29,823,000.00 0.00 0.00 0.00 0.00 RI 0.00 0.00 0.00 0.00 0.00 0.00 RII 0.00 0.00 0.00 0.00 0.00 0.00 RIII 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 CE 47,801,900.00 47,801,899.70 0.00 0.00 0.00 0.00 Totals 877,111,000.00 816,965,235.33 448,304.95 22,972,714.72 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A 23,421,019.67 611,982,215.96 0.87985493 23,421,019.67 M1 0.00 64,906,000.00 1.00000000 0.00 M2 0.00 39,031,000.00 1.00000000 0.00 M3 0.00 29,823,000.00 1.00000000 0.00 RI 0.00 0.00 0.00000000 0.00 RII 0.00 0.00 0.00000000 0.00 RIII 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 CE 0.00 47,801,900.00 1.00000000 0.00 Totals 23,421,019.67 793,544,215.96 0.90472496 23,421,019.67
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 695,549,000.00 913.52763879 0.64453396 33.02817590 0.00000000 M1 64,906,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 39,031,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 29,823,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 RI 0.00 0.00000000 0.00000000 0.00000000 0.00000000 RII 0.00 0.00000000 0.00000000 0.00000000 0.00000000 RIII 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 47,801,900.00 999.99999372 0.00000000 0.00000000 0.00000000
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A 0.00000000 33.67270986 879.85492893 0.87985493 33.67270986 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 RI 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 RII 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 RIII 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A 695,549,000.00 5.71875% 635,403,235.63 3,330,902.90 0.00 0.00 M1 64,906,000.00 6.11875% 64,906,000.00 364,048.29 0.00 0.00 M2 39,031,000.00 6.63875% 39,031,000.00 237,523.96 0.00 0.00 M3 29,823,000.00 8.58875% 29,823,000.00 234,797.10 0.00 0.00 RI 0.00 0.00000% 0.00 0.00 0.00 0.00 RII 0.00 0.00000% 0.00 0.00 0.00 0.00 RIII 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 CE 47,801,900.00 0.00000% 47,801,899.70 0.00 0.00 0.00 Totals 877,111,000.00 4,167,272.25 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A 0.00 0.00 3,330,902.90 0.00 611,982,215.96 M1 0.00 0.00 364,048.29 0.00 64,906,000.00 M2 0.00 0.00 237,523.96 0.00 39,031,000.00 M3 0.00 0.00 234,797.10 0.00 29,823,000.00 RI 0.00 0.00 0.00 0.00 0.00 RII 0.00 0.00 0.00 0.00 0.00 RIII 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 238,213.68 0.00 100.00 CE 0.00 0.00 2,279,920.15 0.00 47,801,900.00 Totals 0.00 0.00 6,685,406.08 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A 695,549,000.00 5.71875% 913.52763879 4.78888317 0.00000000 0.00000000 M1 64,906,000.00 6.11875% 1000.00000000 5.60885419 0.00000000 0.00000000 M2 39,031,000.00 6.63875% 1000.00000000 6.08552074 0.00000000 0.00000000 M3 29,823,000.00 8.58875% 1000.00000000 7.87302082 0.00000000 0.00000000 RI 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 RII 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 RIII 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 CE 47,801,900.00 0.00000% 999.99999372 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A 0.00000000 0.00000000 4.78888317 0.00000000 879.85492893 M1 0.00000000 0.00000000 5.60885419 0.00000000 1000.00000000 M2 0.00000000 0.00000000 6.08552074 0.00000000 1000.00000000 M3 0.00000000 0.00000000 7.87302082 0.00000000 1000.00000000 RI 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 RII 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 RIII 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 2382136.80000000 0.00000000 1000.00000000 CE 0.00000000 0.00000000 47.69517843 0.00000000 1000.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 30,481,734.63 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (32,523.89) Total Deposits 30,449,210.74 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 342,784.99 Payment of Interest and Principal 30,106,425.75 Total Withdrawals (Pool Distribution Amount) 30,449,210.74 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 340,402.17 Certificate Administration Fee 0.00 Trustee Fee - Norwest Bank 2,382.82 Master Servicing Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 342,784.99
CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS Percentage Delinquent Based On Current Unpaid Number Principal Number Unpaid Of Loans Balance Of Loans Balance 30 Days 502 50,078,542.80 6.955799% 6.310744% 60 Days 138 15,382,096.44 1.912152% 1.938404% 90+ Days 184 20,939,998.10 2.549536% 2.638794% Foreclosure 136 12,939,798.72 1.884440% 1.630634% REO 1 53,470.19 0.013856% 0.006738% Totals 961 99,393,906.25 13.315782% 12.525314%
OTHER INFORMATION Current Period Realized Loss - Includes Interest Shortfall 0.00 Cumulative Realized Losses - Includes Interest Shortfall 37,993.35 Principal Balance of Contaminated Properties 0.00 Current Period Class A Insufficient Funds 0.00 Periodic Advance 0.00
COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 10.021236% Weighted Average Net Coupon 9.521250% Weighted Average Pass-Through Rate 9.517736% Weighted Average Maturity(Stepdown Calculation ) 354 Beginning Scheduled Collateral Loan Count 7,396 Number Of Loans Paid In Full 179 Ending Scheduled Collateral Loan Count 7,217 Beginning Scheduled Collateral Balance 816,965,235.33 Ending Scheduled Collateral Balance 793,544,215.66 Ending Actual Collateral Balance at 31-Aug-1999 793,921,905.94 Monthly P &I Constant 7,270,806.05 Ending Scheduled Balance for Premium Loans 793,544,215.66
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