-----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, S9EdCAnBUUt4gcxU06pBYUF60t0I//2dPMqhOtQe14X2NYOx9STD9kqhBsng5/S+ Z5ct2kEfrBU5P3lYreU2Ew== 0000929624-99-002026.txt : 19991122 0000929624-99-002026.hdr.sgml : 19991122 ACCESSION NUMBER: 0000929624-99-002026 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991115 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HEADLANDS HOME EQUITY LOAN TR 1998-2 REV HOME EQ LN AS BK NO CENTRAL INDEX KEY: 0001087811 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 680397342 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-28031-01 FILM NUMBER: 99761213 BUSINESS ADDRESS: STREET 1: 700 LARSPUR LANDING CIRCLE STREET 2: STE 240 CITY: LARKSPUR STATE: CA ZIP: 94939 MAIL ADDRESS: STREET 1: 700 LARKSPUR LANDING CIRCLE STREET 2: STE 240 CITY: LARKSPUR STATE: CA ZIP: 94939 8-K 1 FORM 8-K 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 November 15, 1999 Date of Report (Date of Earliest Event Reported) Headlands Mortgage Securities Inc. (as Sponsor of the Headlands Home Equity Loan Trust 1998-2 Revolving Home Equity Loan Asset-Backed Notes, Series 1998-2) HEADLANDS MORTGAGE SECURITIES INC. ---------------------------------- (Exact Name of Registrant as Specified in Its Charter) Delaware 333-28031-3 68-0397342 -------- ----------- ---------- (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)
700 Larkspur Landing Circle, Suite 240, Larkspur, CA 94939 ---------------------------------------------------------- (Address of Principal Executive Offices) (415) 461-6790 -------------- (Registrant's Telephone Number, Including Area Code) Not Applicable -------------- (Former Name or Former Address, if Changed Since Last Report) INFORMATION TO BE INCLUDED IN THE REPORT Item 5. Other Events ------------ Headlands Mortgage Securities Inc. (the "Company") has previously registered the offer and sale of the Headlands Home Equity Loan Trust 1998-2 Revolving Home Equity Loan Asset-Backed Notes Series, 1998-2 (the "Series 1998-2 Notes"). The following exhibit which relates specifically to the Series 1998-2 Notes is included with this Current Report: Item 7(c). Exhibits -------- 10.1 Monthly Payment Date Statement distributed to holders of Series 1998-2 Notes dated November 15, 1999. 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. Date: November 17, 1999 HEADLANDS MORTGAGE SECURITIES INC. By: /s/ Gilbert J. MacQuarrie ------------------------- Gilbert J. MacQuarrie Vice President, Treasurer and Secretary (Principal Financial Officer and Principal Accounting Officer) EXHIBIT INDEX
Exhibit Number Page Number - -------------- ----------- 10.1 Monthly Payment Date Statement distributed to holders of Series 1998-2 Notes dated November 15, 1999...................... 5
EX-10.1 2 MONTHLY PAYMENT DATE STATEMENT Exhibit 10.1
- --------------------------------------------------------------------------------------------------------------------------------- HEADLANDS SERVICING CERTIFICATE MORTGAGE ================================================================================================================================= Revolving Home Equity Loan LIBOR: 5.40625% Current Collection Period: 10/01/99-10/31/99 Asset-Backed Notes Margin: 0.65000% P&S Agreement Date: 12/1/98 Series 1998-2 Class A-1 Note Rate: 6.05625% Original Closing Date: 12/29/98 Class A-2 Note Rate: 6.51000% Distribution Date: 11/15/99 Class A-3 Note Rate: 6.67000% Record Date: 11/14/99 Interest Period 10/15/99 thru 11/14/99: 31 Pool Factor: 74.7155238% Servicing Fee Rate: 0.50000% Initial Class A-1 O/C Amt: 2,041,531.37 Class A-1 Premium Fee Rate: 0.19000% Initial Class A-2 O/C Amt: 2,430,777.93 Class A-2 Premium Fee Rate: 0.22000% Initial Class A-3 O/C Amt: 3,312,404.71 Class A-3 Premium Fee Rate: 0.40000% Class A-1 O/C Amt as of Pmt Date: 4,763,573.17 Trustee Fee: 0.00750% Class A-2 O/C Amt as of Pmt Date: 4,794,625.67 Class A-1 Weighted Avg Loan Rate: 11.54149% Class A-3 O/C Amt as of Pmt Date: 5,554,621.90 Class A-2 Weighted Avg Loan Rate: 11.05079% Class A-1 WAM: 212 Class A-3 Weighted Avg Loan Rate: 13.44367% Class A-2 WAM: 168 Total Management Fee 1,000.00 Class A-3 WAM: 248 ==================================================================================================================================
BALANCES Beginning HELOC Pool Balance 107,513,619.22 Beginning Second Lien Pool Balance 63,382,072.85 Beginning HLTV Pool Balance 41,761,273.36 Beginning Class A-1 Note Balance -- CUSIP 422093AG9 102,750,046.05 Beginning Class A-2 Note Balance -- CUSIP 422093AH7 58,798,605.35 Beginning Class A-3 Note Balance -- CUSIP 422093AJ3 36,382,330.80 Overcollateralization Amount 3,704,037.21 Overcollateralization Loan Amount 0.00 Ending HELOC Pool Balance 104,393,069.80 Ending Second Lien Pool Balance 61,558,443.39 Ending HLTV Pool Balance 40,928,693.24 Ending Class A-1 Note Balance -- CUSIP 422093AG9 99,629,496.63 Ending Class A-2 Note Balance -- CUSIP 422093AH7 56,763,817.72 Ending Class A-3 Note Balance -- CUSIP 422093AJ3 35,374,071.34 Additional Balances Class A-1 2,050,509.18 Number of all Retransferred Mortgage Loans (Current Retransfer Date) 0 Retransferred Mortgage Loan Trust Balances (Current Retransfer Date) 0.00 Cumulative Number of all Retransferred Mortgage Loans (From Previous Distributions) 0 Cumulative Retransferred Mortgage Loan Trust Balances (From Previous Distributions) 0.00 Number of all Subsequent HELOC Mortgage Loans (Current Date) 0 Subsequent HELOC Mortgage Loan Asset Balance (Current Date) 0.00 Number of all Subsequent Second Lien Mortgage Loans (Current Date) 0 Subsequent Second Lien Mortgage Loan Asset Balance (Current Date) 0.00 Number of all Subsequent HLTV Mortgage Loans (Current Date) 0 Subsequent HLTV Mortgage Loan Asset Balance (Current Date) 0.00 Cumulative Number of ALL Subsequent Mortgage Loans 1,830 Cumulative Subsequent Mortgage Loan Asset Balance 64,876,717.43 Beginning Loan Count 5,938 Ending Loan Count 5,788
COLLECTION AMOUNTS Class A-1 1 Aggregate of All Mortgage Collections (Gross) 6,136,415.62 2 Total Mortgage Interest Collections (Gross) 1,015,357.02 Servicing Fees (current collection period) 44,797.34 Deferred Interest Transfer (DI) 0.00 3a Mortgage Principal Collections 5,121,058.60 3b Pre-Funded Balance 0.00 3c Net Liquidation Proceeds 0.00 3 Total Mortgage Principal Collections 5,121,058.60 Aggregate of Transfer Deposits 0.00 Investor Loss Amount 50,000.00 Aggregate Investor Loss Reduction Amount 100,000.00 COLLECTION AMOUNTS Class A-2 1 Aggregate of All Mortgage Collections (Gross) 2,391,632.72 2 Total Mortgage Interest Collections (Gross) 568,003.26 Servicing Fees (current collection period) 26,409.20 Deferred Interest Transfer (DI) 0.00 3a Mortgage Principal Collections 1,823,629.46 3b Pre-Funded Balance 0.00 3c Net Liquidation Proceeds 0.00 3 Total Mortgage Principal Collections 1,823,629.46 Aggregate of Transfer Deposits 0.00 Investor Loss Amount 0.00 Aggregate Investor Loss Reduction Amount 87,564.64 COLLECTION AMOUNTS Class A-3 1 Aggregate of All Mortgage Collections (Gross) 1,240,411.41 2 Total Mortgage Interest Collections (Gross) 447,078.04 Servicing Fees (current collection period) 17,400.53 Deferred Interest Transfer (DI) 0.00 3a Mortgage Principal Collections 793,333.37 3b Pre-Funded Balance 0.00 3c Net Liquidation Proceeds 0.00 3 Total Mortgage Principal Collections 793,333.37 Aggregate of Transfer Deposits 0.00 Investor Loss Amount 39,246.75 Aggregate Investor Loss Reduction Amount 210,509.05 TOTAL COLLECTION AMOUNT 1 Aggregate of All Mortgage Collections (Gross) 9,768,459.75 2 Total Mortgage Interest Collections (Gross) 2,030,438.32 Servicing Fees (current collection period) 88,607.07 Deferred Interest Transfer (DI) 0.00 3a Mortgage Principal Collections 7,738,021.43 3b Insurance Proceeds 0.00 3c Net Liquidation Proceeds 0.00 3 Total Mortgage Principal Collections 7,738,021.43 Aggregate of Transfer Deposits 0.00 Investor Loss Amount 89,246.75 Aggregate Investor Loss Reduction Amount 398,073.69
Class A-1 Net Interest Collection 970,559.68 Class A-2 Net Interest Collection 541,594.06 Class A-3 Net Interest Collection 429,677.51 DISTRIBUTION AMOUNTS Class A-1 Class A-1 Note Interest 8.6 (d)(iv) 535,852.19 Class A-1 Note Unpaid Interest Shortfall (current cycle) 0.00 Class A-1 Note Reserve Fund Amount 367,274.22 Investor Loss Amount 50,000.00 Previous Investor Loss Amount 0.00 Monthly Credit Enhancer Premium 8.6 (d)(ii) 16,268.76 Credit Enhancer Reimbursement 0.00 Accelerated Principal Distribution Amount 0.00 Spread Account Deposit 0.00 Indenture Trustee Fee 8.6 (d)(i) 642.19 Management Fee 8.6 (d)(iii) 522.32 Payment to Servicer 0.00 Deferred Interest 0.00 Remaining Amount to Transferor 0.00 Total Certificateholders Distribution Allocable to Interest 970,559.68 Maximum Principal Payment 3,070,549.42 Scheduled Principal Collection Payment ((x)the excess of 0.00 Max Prin Pymt (y) the HELOC Pool O/C Redctin Amt) 8.6(d)(v) Accelerated Principal Distribution Amount 0.00 Loan Loss 50,000.00 HELOC Overcollateralization Deficit 8.6 (d)(vi) 0.00 Total Certificateholders Distribution Allocable to Principal 3,120,549.42 DISTRIBUTION AMOUNTS Class A-2 Class A-2 Note Interest 8.6 (d)(iv) 318,982.43 Class A-2 Note Unpaid Interest Shortfall (current cycle) 0.00 Class A-2 Note Reserve Fund Amount 0.00 Investor Loss Amount 0.00 Previous Investor Loss Amount 0.00 Monthly Credit Enhancer Premium 8.6 (d)(ii) 10,779.74 Credit Enhancer Reimbursement 0.00 Accelerated Principal Distribution Amount 211,158.17 Spread Account Deposit 0.00 Indenture Trustee Fee 8.6 (d)(i) 367.49 Management Fee 8.6 (d)(iii) 306.22 Payment to Servicer 0.00 Deferred Interest 0.00 Remaining Amount to Transferor 0.00 Total Certificateholders Distribution Allocable to Interest 541,594.06 Maximum Principal Payment 1,823,629.46 Scheduled Principal Collection Payment ((x)the excess of Max Prin Pymt (y) the Second Pool O/C Redctin Amt) 8.6(d)(v) 0.00 Accelerated Principal Distribution Amount 211,158.17 Loan Loss 0.00 Second Lien Overcollateralization Deficit 8.6 (d)(vi) 0.00 Total Certificateholders Distribution Allocable to Principal 2,034,787.63
DISTRIBUTION AMOUNTS Class A-3 Class A-3 Note Interest 8.6 (d)(iv) 202,225.12 Class A-3 Note Unpaid Interest Shortfall (current cycle) 5.01(i) 0.00 Class A-3 Note Reserve Fund Amount 0.00 Investor Loss Amount 5.01(iii) 39,246.75 Previous Investor Loss Amount 5.01(iv) 0.00 Monthly Credit Enhancer Premium 8.6(d)(ii) 12,127.44 Credit Enhancer Reimbursement 5.01(vi) 0.00 Accelerated Principal Distribution Amount 5.01(vii) 175,679.34 Spread Account Deposit 5.01(viii) 0.00 Indenture Trustee Fee 8.6 (d)(i) 227.39 Management Fee 8.6 (d)(iii) 171.46 Payment to Servicer per Section 7.03 5.01 (x) 0.00 Deferred Interest 5.01 (xi) 0.00 Remaining Amount to Transferor 5.01 (xii) 0.00 Total Certificateholders Distribution Allocable to Interest 429,677.51 Maximum Principal payment 793,333.37 Scheduled Principal Collection Payment 0.00 Accelerated Principal Distribution Amount 175,679.34 Loan Loss 39,246.75 HLTV Lien Overcollateralization Deficit 8.6 (d)(vi) 0.00 Total Certificateholders Distribution Allocable to Principal 1,008,259.46 TOTAL DISTRIBUTION AMOUNT Class A Note Interest 8.6 (d)(iv) 1,057,059.75 Class A Note Unpaid Interest Shortfall (current cycle) 5.01(i) 0.00 Class A Note Reserve Fund Amount 367,274.22 Investor Loss Amount 5.01(iii) 89,246.75 Previous Investor Loss Amount 5.01(iv) 0.00 Monthly Credit Enhancer Premium 8.6(d)(ii) 39,175.95 Credit Enhancer Reimbursement 5.01(vi) 0.00 Accelerated Principal Distribution Amount 5.01(vii) 386,837.51 Spread Account Deposit 5.01(viii) 0.00 Indenture Trustee Fee 8.6 (d)(i) 1,237.07 Management Fee 8.6 (d)(iii) 1,000.00 Payment to Servicer per Section 7.03 5.01 (x) 0.00 Deferred Interest 5.01 (xi) 0.00 Remaining Amount to Transferor 5.01 (xii) 0.00 Total Certificateholders Distribution Allocable to Interest 1,941,831.24 Maximum Principal Payment 5,687,512.25 Scheduled Principal Collection Payment 0.00 Accelerated Principal Distribution Amount 386,837.51 Loan Loss 89,246.75 Overcollateralization Deficit 8.6 (d)(vi) 0.00 Total Certificateholders Distribution Allocable to Principal 6,163,596.51 LOSSES/RETRANSFERS Unpaid Class A-1 Note Interest Shortfall Due (From Previous Distributions) 0.00 Unpaid Class A-2 Note Interest Shortfall Due (From Previous Distributions) 0.00 Unpaid Class A-3 Note Interest Shortfall Due (From Previous Distributions) 0.00 Interest Earned on Shortfall @ applicable Certificate Rate 0.00 Investor Loss Reduction Amount (From Previous Distributions) 0.00
DISTRIBUTION TO CERTIFICATEHOLDERS (PER CERTIFICATE WITH A $1,000 DENOMINATION)
Class A-1 Total Class A-1 Note Distribution Amount Allocable to Interest 3.9970905 Interest Distribution Amount 3.9970905 Unpaid Note Interest Shortfall Included in Current Distribution 0.0000000 Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000 Total Class A-1 Note Distribution Amount Allocable to Principal 23.2771624 Maximum Principal Payment 22.9041966 Scheduled Principal Collections Payment 0.0000000 Loan Loss 0.3729658 Accelerated Principal Distribution Amount 0.0000000 Class A-2 Total Class A-2 Note Distribution Amount Allocable to Interest 4.0585510 Interest Distribution Amount 4.0585510 Unpaid Note Interest Shortfall Included in Current Distribution 0.0000000 Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000 Total Class A-2 Note Distribution Amount Allocable to Principal 25.8894799 Maximum Principal Payment 23.2028235 Scheduled Principal Collections Payment 0.0000000 Loan Loss 0.0000000 Accelerated Principal Distribution Amount 2.6866564 Class A-3 Total Class A-3 Note Distribution Amount Allocable to Interest 4.5952252 Interest Distribution Amount 4.5952252 Unpaid Note Interest Shortfall Included in Current Distribution 0.0000000 Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000 Total Class A-3 Note Distribution Amount Allocable to Principal 22.9109976 Maximum Principal Payment 18.0271643 Scheduled Principal Collections Payment 0.0000000 Loan Loss 0.8918163 Accelerated Principal Distribution Amount 3.9920170 Reimbursed Investor Loss Reduction Amounts Included in Current Distribution 0.0000000 Investor Loss Reduction Amounts after Current Distribution (Carryover) 0.0000000 Total Interest Amount Distributed to Class A Certificateholder 12.6508667 Total Principal Amount Distributed to Class A Certificateholder 72.0776398 Credit Enhancement Draw Amount 0.00 DELINQUENCIES/FORECLOSURES Class A-1 Number of Mortgages 30 to 59 Days Delinquent 45 Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 1,991,256.06 Number of Mortgages 60 to 89 Days Delinquent 10 Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 451,904.59 Number of Mortgages 90 to 179 Days Delinquent 0 Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent 0.00 Number of Mortgages 180 or more Days Delinquent 2
Aggregate Principal Balances of Mortgages 180 or more Days Delinquent 92,471.71 Number of Mortgage Loans in Foreclosure 5 Aggregate Principal Balances of Mortgage Loans in Foreclosure 303,088.30 Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 50,000.00 Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00 Class A-2 Number of Mortgages 30 to 59 Days Delinquent 22 Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 666,208.56 Number of Mortgages 60 to 89 Days Delinquent 4 Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 403,171.55 Number of Mortgages 90 to 179 Days Delinquent 2 Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent 80,561.87 Number of Mortgages 180 or more Days Delinquent 2 Aggregate Principal Balances of Mortgages 180 or more Days Delinquent 59,701.81 Number of Mortgage Loans in Foreclosure 6 Aggregate Principal Balances of Mortgage Loans in Foreclosure 300,337.19 Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 0.00 Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00 Class A-3 Number of Mortgages 30 to 59 Days Delinquent 39 Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 1,408,752.27 Number of Mortgages 60 to 89 Days Delinquent 9 Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 369,016.32 Number of Mortgages 90 to 179 Days Delinquent 8 Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent 275,458.40 Number of Mortgages 180 or more Days Delinquent 2 Aggregate Principal Balances of Mortgages 180 or more Days Delinquent 62,149.05 Number of Mortgage Loans in Foreclosure 19 Aggregate Principal Balances of Mortgage Loans in Foreclosure 649,037.23 Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 0.00 Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00 TOTAL DELINQUENCIES/FORECLOSURES Number of Mortgages 30 to 59 Days Delinquent 106 Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 4,066,216.89 Number of Mortgages 60 to 89 Days Delinquent 23 Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 1,224,092.46 Number of Mortgages 90 to 179 Days Delinquent 10 Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent 356,020.27 Number of Mortgages 180 or more Days Delinquent 6 Aggregate Principal Balances of Mortgages 180 or more Days Delinquent 214,322.57 Number of Mortgage Loans in Foreclosure 30 Aggregate Principal Balances of Mortgage Loans in Foreclosure 1,252,462.72 Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 50,000.00 Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00 ============================================================================================================================= PRE-FUNDED ACCOUNT ACTIVITY Beginning Balance Pre-Funded Account 0.00 Remaining Amount for Distribution to Classes 0.00 Withdrawal for Subsequent Loan Purchase: 0.00 Ending Balance Pre-Funded Account 0.00 Pre-Funding Period: From Closing Date thru the 2/15/99
RESERVE FUND ACTIVITY Class A-1 Reserve Fund Beginning Balance 1,436,294.05 Class A-1 Reserve Fund Deposit/Withdrawal 367,274.22 Class A-1 Reserve Fund Ending Balance 1,803,568.27 Class A-2 Reserve Fund Beginning Balance 0.00 Class A-2 Reserve Fund Deposit/Withdrawal 0.00 Class A-2 Reserve Fund Ending Balance 0.00 Class A-3 Reserve Fund Beginning Balance 0.00 Class A-3 Reserve Fund Deposit/Withdrawal 0.00 Class A-3 Reserve Fund Ending Balance 0.00 CROSSOVER ACTIVITY Class A-1 Activity This Distribution 0.00 Class A-2 Activity This Distribution 0.00 Class A-3 Activity This Distribution 0.00
OFFICER'S CERTIFICATE All Computations reflected in this Servicer Certificate were made in conformity with the Pooling and Servicing Agreement. The Attached Servicing Certificate is true and correct in all material respects. _______________________________________________________ A Servicing Officer Teri Martine
- ------------------------------------------------------------------------------------------------------------------ HEADLANDS MORTGAGE STATEMENT TO NOTEHOLDERS ================================================================================================================== Revolving Home Equity Loan LIBOR: 5.40625% Current Collection Period: 10/01/99-10/31/99 Asset-Backed Notes Margin: 0.65000% P&S Agreement Date: 12/1/98 Series 1998-2 Class A-1 Note Rate: 6.05625% Original Closing Date: 12/29/98 Class A-2 Note Rate: 6.51000% Distribution Date: 11/15/99 Class A-3 Note Rate: 6.67000% Record Date: 11/14/99 Interest Period 3/15/99 thru 4/14/99: 31 Pool Factor: 74.7155238% ==================================================================================================================
BALANCES Beginning HELOC Pool Balance 107,513,619.22 Beginning Second Lien Pool Balance 63,382,072.85 Beginning HLTV Pool Balance 41,761,273.36 Beginning Class A-1 Note Balance -- CUSIP 422093AG9 102,750,046.05 Beginning Class A-2 Note Balance -- CUSIP 422093AH7 58,798,605.35 Beginning Class A-3 Note Balance -- CUSIP 422093AJ3 36,382,330.80 Ending HELOC Pool Balance 104,393,069.80 Ending Second Lien Pool Balance 61,558,443.39 Ending HLTV Pool Balance 40,928,693.24 Ending Class A-1 Note Balance -- CUSIP 422093AG9 99,629,496.63 Ending Class A-2 Note Balance -- CUSIP 422093AH7 56,763,817.72 Ending Class A-3 Note Balance -- CUSIP 422093AJ3 35,374,071.34 Additional Balances Class A-1 2,050,509.18 Number of all Retransferred Mortgage Loans (Current Retransfer Date) 0 Retransferred Mortgage Loan Trust Balances (Current Retransfer Date) 0.00 Cumulative Number of all Retransferred Mortgage Loans (From Previous Distributions) 0 Cumulative Retransferred Mortgage Loan Trust Balances (From Previous Distributions) 0.00 Number of all Subsequent HELOC Mortgage Loans (Current Date) 0 Subsequent HELOC Mortgage Loan Asset Balance (Current Date) 0.00 Number of all Subsequent Second Lien Mortgage Loans (Current Date) 0 Subsequent Second Lien Mortgage Loan Asset Balance (Current Date) 0.00 Number of all Subsequent HLTV Mortgage Loans (Current Date) 0 Subsequent HLTV Mortgage Loan Asset Balance (Current Date) 0.00 Cumulative Number of ALL Subsequent Mortgage Loans 1830 Cumulative Subsequent Mortgage Loan Asset Balance 64,876,717.43 Beginning Loan Count 5,938 Ending Loan Count 5,788 COLLECTION AMOUNTS Class A-1 Aggregate of All Mortgage Collections 6,091,618.28 Total Mortgage Interest Collections 1,015,357.02 Servicing Fees (current collection period) (44,797.34) Mortgage Principal Collections 5,121,058.60 Pre-Funded Balance 0.00 0.00 Total Mortgage Principal Collections 5,121,058.60
COLLECTION AMOUNTS Class A-2 Aggregate of All Mortgage Collections 2,365,223.52 Total Mortgage Interest Collections 568,003.26 Servicing Fees (current collection period) (26,409.20) Mortgage Principal Collections 1,823,629.46 Pre-Funded Balance 0.00 0.00 Total Mortgage Principal Collections 1,823,629.46 COLLECTION AMOUNTS Class A-3 Aggregate of All Mortgage Collections 1,223,010.88 Total Mortgage Interest Collections 447,078.04 Servicing Fees (current collection period) (17,400.53) Mortgage Principal Collections 793,333.37 Pre-Funded Balance 0.00 0.00 Total Mortgage Principal Collections 793,333.37 TOTAL COLLECTION AMOUNT Aggregate of All Mortgage Collections 9,768,459.75 Total Mortgage Interest Collections 2,030,438.32 Mortgage Principal Collections 7,738,021.43 Pre-Funded Balance 0.00 Total Mortgage Principal Collections 7,738,021.43 DISTRIBUTION AMOUNTS Class A-1 Class A-1 Note Interest 535,852.19 Class A-1 Note (Unpaid interest Shortfall (current cycle) 0.00 Class A-1 Note Reserve Fund Amount 367,274.22 Maximum Principal Payment Scheduled Principal Collection 3,070,549.42 Accelerated Principal Distribution Amount 0.00 Loan Loss 0.00 HELOC Overcollateralization Deficit 50,000.00 Total Certificateholders Distribution Allocate to Principal 3,120,649.42 DISTRIBUTION AMOUNTS Class A-2 Class A-2 Note Interest 318,982.43 Class A-2 Note Unpaid Interest Shortfall (current cycle) 0.00 Class A-2 Note Reserve Fund Amount 0.00 Maximum Principal Payment 1,823,629.46 Scheduled Principal Collection 0.00 Accelerated Principal Distribution Amount 211,158.17 Loan Loss 0.00 HELOC Overcollateralization Deficit 0.00 Total Certificateholders Distribution Allocable to Principal 2,034,787.63 DISTRIBUTION AMOUNTS Class A-3 Class A-3 Note Interest 202,225.12 Class A-3 Note Unpaid Interest Shortfall (current cycle) 0.00 Class A-3 Note Reserve Fund Amount 0.00 Maximum Principal Payment 793,333.37 Scheduled Principal Collection Payment 0.00 Accelerated Principal Distribution Amount 175,679.34
Loan Loss 39,246.75 HLTV Lien Overcollateralization Deficit 0.00 Total Certificateholders Distribution Allocable to Principal 1,008,259.46 TOTAL DISTRIBUTION AMOUNT Class A Note Interest 1,057,059.75 Class A Note Unpaid Interest Shortfall (current cycle) 0.00 Class A Note Reserve Fund Amount 367,274.22 Maximum Principal Payment 5,687,512.25 Scheduled Principal Collection Payment/bal 0.00 Accelerated Principal Distribution Amount 386,837.51 Overcollateralization Deficit 0.00 Total Certificateholders Distribution Allocable to Principal 6,074,349.76 LOSSES/RETRANSFERS Unpaid Class A-1 Note Interest Shortfall Due (From Previous Distributions) 0.00 Unpaid Class A-2 Note Interest Shortfall Due (From Previous Distributions) 0.00 Unpaid Class A-3 Note Interest Shortfall Due (From Previous Distributions) 0.00 Interest Earned on Shortfall @ applicable Certificate Rate 0.00 Investor Loss Reduction Amount (From Previous Distributions) 0.00 DISTRIBUTION TO CERTIFICATEHOLDERS (PER CERTIFICATE WITH A $1,000 DENOMINATION) Class A-1 Total Class A-1 Note Distribution Amount Allocable to Interest 3.9970905 Interest Distribution Amount 3.9970905 Unpaid Note Interest Shortfall Included in Current Distribution 0.0000000 Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000 Total Class A-1 Note Distribution Amount Allocable to Principal 23.2771624 Maximum Principal Payment 22.9041966 Scheduled Principal Collections Payment 0.0000000 Loan Loss 0.3729658 Accelerated Principal Distribution Amount 0.0000000 Class A-2 Total Class A-2 Note Distribution Amount Allocable to Interest 4.0585510 Interest Distribution Amount 4.0585510 Unpaid Note Interest Shortfall Included in Current Distribution 0.0000000 Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000 Total Class A-2 Note Distribution Amount Allocable to Principal 25.8894799 Maximum Principal Payment 23.2028235 Scheduled Principal Collections Payment 0.0000000 Loan Loss 0.0000000 Accelerated Principal Distribution Amount 2.6866564 Class A-3 Total Class A-3 Note Distribution Amount Allocable to Interest 4.5952252 Interest Distribution Amount 4.5952252 Unpaid Note Interest Shortfall Included in Current Distribution 0.0000000 Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000
Total Class A-3 Note Distribution Amount Allocable to Principal 22.9109976 Maximum Principal Payment 18.0271643 Scheduled Principal Collections Payment 0.0000000 Loan Loss 0.8918163 Accelerated Principal Distribution Amount 3.9920170 Reimbursed Investor Loss Reduction Amounts Included in Current Distribution 0.0000000 Investor Loss Reduction Amounts after Current Distribution (carryover) 0.0000000 Total Interest Amount Distributed to Class A Certificateholder 12.6508667 Total Principal Amount Distributed to Class A Certificateholder 72.0776398 Credit Enhancement Draw Amount 0 DELINQUENCIES/FORECLOSURES Class A-1 Number of Mortgages 31 to 60 Days Delinquent 45 Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 1,991,256.06 Number of Mortgages 61 to 90 Days Delinquent 10 Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 451,904.59 Number of Mortgages 91 to 180 or more Days Delinquent 0 Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 0.00 Number of Mortgages 181 or more Days Delinquent 2 Aggregate Principal Balances of Mortgages 181 or more Days Delinquent 92,471.71 Number of Mortgage Loans in Foreclosure 5 Aggregate Principal Balances of Mortgage Loans in Foreclosure 303,088.30 Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 50,000.00 Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00 Class A-2 Number of Mortgages 31 to 60 Days Delinquent 22 Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 666,208.56 Number of Mortgages 61 to 90 Days Delinquent 4 Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 403,171.55 Number of Mortgages 91 to 180 or more Days Delinquent 2 Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 80,561.87 Number of Mortgages 181 or more Days Delinquent 2 Aggregate Principal Balances of Mortgages 181 or more Days Delinquent 59,701.81 Number of Mortgage Loans in Foreclosure 6 Aggregate Principal Balances of Mortgage Loans in Foreclosure 300,337.19 Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 0.00 Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00 Class A-3 Number of Mortgages 31 to 60 Days Delinquent 39 Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 1,408,752.27 Number of Mortgages 61 to 90 Days Delinquent 9 Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 369,016.32 Number of Mortgages 91 to 180 or more Days Delinquent 8 Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 275,458.40 Number of Mortgages 181 or more Days Delinquent 2 Aggregate Principal Balances of Mortgages 181 or more Days Delinquent 62,149.05 Number of Mortgage Loans in Foreclosure 19 Aggregate Principal Balances of Mortgage Loans in Foreclosure 649,037.23 Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 0.00 Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00
TOTAL DELINQUENCIES/FORECLOSURES Number of Mortgages 31 to 60 Days Delinquent 106 Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 4,066,216.89 Number of Mortgages 61 to 90 Days Delinquent 23 Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 1,224,092.46 Number of Mortgages 91 to 180 or more Days Delinquent 10 Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 356,020.27 Number of Mortgages 181 or more Days Delinquent 6 Aggregate Principal Balances of Mortgages 181 or more Days Delinquent 214,322.57 Number of Mortgage Loans in Foreclosure 30 Aggregate Principal Balances of Mortgage Loans in Foreclosure 1,252,462.72 Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 50,000.00 Aggregate Trust Balances of any Liquidated Loans in the Current Month 0.00 ================================================================================================================================= Class A-1 Note Rate For Next Distribution LIBOR 5.42750% 6.07750% PRE-FUNDED ACCOUNT ACTIVITY Beginning Balance Pre Funding Account 0.00 Remaining Amount for Distribution to Classes 0.00 Withdrawal for Subsequent Loan Purchase: 0.00 Ending Balance Pre Funding Account 0.00 Pre-Funding Period: From Closing Date thru the 2/15/99 RESERVE FUND ACTIVITY Class A-1 Reserve Fund Beginning Balance 1,436,294.05 Class A-1 Reserve Fund Deposit/Withdrawal 367,274.22 Class A-1 Reserve Fund Ending Balance 1,803,568.27 Class A-2 Reserve Fund Beginning Balance 0.00 Class A-2 Reserve Fund Deposit/Withdrawal 0.00 Class A-2 Reserve Fund Ending Balance 0.00 Class A-3 Reserve Fund Beginning Balance 0.00 Class A-3 Reserve Fund Deposit/Withdrawal 0.00 Class A-3 Reserve Fund Ending Balance 0.00
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