-----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, K81jjB8vDOF5GPa+vl3dnYcpbbFC+9hjMy4FGKt6XjQbFaLMTz9JkqjGyJaoQObI sOPGwy0tKOKt+mUHaA0chA== 0000929624-00-000046.txt : 20000202 0000929624-00-000046.hdr.sgml : 20000202 ACCESSION NUMBER: 0000929624-00-000046 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000115 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000119 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: 509480 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 HEADLANDS MORTGAGE SECURITIES, INC. 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 January 15, 2000 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 January 15, 2000. 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: January 19, 2000 GREENPOINT MORTGAGE SECURITIES INC. (SUCCESSOR TO HEADLANDS MORTGAGE SECURITIES INC.) By: /s/ Gilbert J. MacQuarrie ------------------------------------------ Gilbert J. MacQuarrie Vice President, Treasurer and Secretary (Principal Financial Officer and 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 January 15, 2000.................. 5
EX-10.1 2 MONTHLY PAYMENT DATE STATEMENT DATED 01/15/2000 Exhibit 10.1
- ----------------------------------------------------------------------------------------------------------------------------- HEADLANDS MORTGAGE SERVICING CERTIFICATE ============================================================================================================================= Revolving Home Equity Loan LIBOR: 6.46250% Current Collection Period: 12/01/99-12/31/99 Asset-Backed Notes Margin: 0.65000% P&S Agreement Date: 12/1/98 Series 1998-2 Class A-1 Note Rate: 7.11250% Original Closing Date: 12/29/98 Class A-2 Note Rate: 6.51000% Distribution Date: 1/18/00 Class A-3 Note Rate: 6.67000% Record Date: 1/17/00 Interest Period 12/15/99 thru 34 Pool Factor: 68.7340712% 1/17/00: 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 4,763,573.17 Date: Trustee Fee: 0.00750% Class A-2 O/C Amt as of Pmt 5,237,845.42 Date: Class A-1 Weighted Avg Loan 11.49406% Class A-3 O/C Amt as of Pmt 5,787,962.78 Rate: Date: Class A-2 Weighted Avg Loan 11.03870% Class A-1 WAM: 211 Rate: Class A-3 Weighted Avg Loan 13.44196% Class A-2 WAM: 166 Rate: Total Management Fee 1,000.00 Class A-3 WAM: 246 ===================================================================================================================== BALANCES Beginning HELOC Pool Balance 100,263,659.81 Beginning Second Lien Pool Balance 59,557,102.29 Beginning HLTV Pool Balance 40,381,566.76 Beginning Class A-1 Note Balance -- CUSIP 422093AG9 95,500,086.64 Beginning Class A-2 Note Balance -- CUSIP 422093AH7 54,556,128.98 Beginning Class A-3 Note Balance -- CUSIP 422093AJ3 34,728,216.50 Overcollateralization Amount 3,027,476.58 Overcollateralization Loan Amount 0.00 Ending HELOC Pool Balance 94,908,424.21 Ending Second Lien Pool Balance 57,586,029.87 Ending HLTV Pool Balance 39,710,114.88 Ending Class A-1 Note Balance -- CUSIP 422093AG9 90,144,851.04 Ending Class A-2 Note Balance -- CUSIP 422093AH7 52,348,184.45 Ending Class A-3 Note Balance -- CUSIP 422093AJ3 33,922,152.10 Additional Balances Class A-1 1,368,204.13 Number of all Retransferred Mortgage Loans (Current Retransfer 0 Date) Retransferred Mortgage Loan Trust Balances (Current Retransfer 0.00 Date) 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 SubsequentSecond 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 5,634 Ending Loan Count 5,452
COLLECTION AMOUNTS Class A-1 1 Aggregate of All Mortgage Collections (Gross) 7,723,381.27 2 Total Mortgage Interest Collections (Gross) 1,081,620.33 Servicing Fees (current collection period) 41,776.52 Deferred Interest Transfer (DI) Funding acct earnings 64,111.20 distribution 1/00 3a Mortgage Principal Collections 6,641,760.94 3b Pre-Funded 0.00 Balance 3c Net Liquidation Proceeds 0.00 3 Total Mortgage Principal Collections 6,641,760.94 Aggregate of Transfer Deposits 0.00 Investor Loss Amount 81,678.79 Aggregate Investor Loss Reduction Amount 276,710.54 COLLECTION AMOUNTS Class A-2 1 Aggregate of All Mortgage Collections (Gross) 2,497,062.74 2 Total Mortgage Interest Collections (Gross) 588,507.65 Servicing Fees (current collection period) 24,815.46 Deferred Interest Transfer (DI) Funding acct earnings 42,313.40 distribution 1/00 3a Mortgage Principal Collections 1,908,555.09 3b Pre-Funded 0.00 Balance 3c Net Liquidation Proceeds 0.00 3 Total Mortgage Principal Collections 1,908,555.09 Aggregate of Transfer Deposits 0.00 Investor Loss Amount 62,517.33 Aggregate Investor Loss Reduction Amount 150,081.97 COLLECTION AMOUNTS Class A-3 1 Aggregate of All Mortgage Collections (Gross) 1,006,087.83 2 Total Mortgage Interest Collections (Gross) 481,293.09 Servicing Fees (current collection period) 16,825.65 Deferred Interest Transfer (DI) Funding acct earnings 21,797.81 distribution 1/00 3a Mortgage Principal Collections 524,794.74 3b Pre-Funded 0.00 Balance 3c Net Liquidation Proceeds 0.00 3 Total Mortgage Principal Collections 524,794.74 Aggregate of Transfer Deposits 0.00 Investor Loss Amount 146,657.14 Aggregate Investor Loss Reduction Amount 473,113.39 TOTAL COLLECTION AMOUNT 1 Aggregate of All Mortgage Collections (Gross) 11,226,531.84 2 Total Mortgage Interest Collections (Gross) 2,151,421.07 Servicing Fees (current collection period) 83,417.64 Deferred Interest Transfer (DI) 128,222.41 3a Mortgage Principal Collections 9,075,110.77 3b Insurance 0.00 Proceeds 3c Net Liquidation Proceeds 0.00 3 Total Mortgage Principal Collections 9,075,110.77 Aggregate of Transfer Deposits 0.00 Investor Loss Amount 290,853.26 Aggregate Investor Loss Reduction Amount 899,905.90
Class A-1 Net Interest Collection 1,103,955.01 Class A-2 Net Interest Collection 606,005.59 Class A-3 Net Interest Collection 486,265.25 DISTRIBUTION AMOUNTS Class A-1 Class A-1 Note Interest 8.6 (d)(iv) 641,508.57 Class A-1 Note Unpaid Interest Shortfall (current 0.00 cycle) Class A-1 Note Reserve Fund Amount 364,527.60 Investor Loss 81,678.79 Amount Previous Investor Loss Amount 0.00 Monthly Credit Enhancer Premium 8.6 (d)(ii) 15,120.85 Credit Enhancer Reimbursement 0.00 Accelerated Principal Distribution Amount 0.00 Spread Account Deposit 0.00 Indenture Trustee Fee 8.6 (d)(i) 596.88 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 1,103,955.00 Interest Maximum Principal Payment 5,273,556.81 Scheduled Principal Collection Payment ((x)the excess of Max Prin Pymt (y) the HELOC Pool O/C 0.00 Redctin Amt) 8.6(d)(v) Accelerated Principal Distribution Amount 0.00 Loan Loss 81,678.79 HELOC Overcollateralization Deficit 8.6 (d)(vi) 0.00 Total Certificateholders Distribution Allocable to 5,355,235.60 Principal DISTRIBUTION AMOUNTS Class A-2 Class A-2 Note Interest 8.6 (d)(iv) 295,967.00 Class A-2 Note Unpaid Interest Shortfall (current 0.00 cycle) Class A-2 Note Reserve Fund Amount 0.00 Investor Loss 62,517.33 Amount Previous Investor Loss Amount 0.00 Monthly Credit Enhancer Premium 8.6 (d)(ii) 10,001.96 Credit Enhancer Reimbursement 0.00 Accelerated Principal Distribution Amount 236,872.11 Spread Account Deposit 0.00 Indenture Trustee Fee 8.6 (d)(i) 340.98 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 606,005.59 Interest Maximum Principal Payment 1,908,555.09 Scheduled Principal Collection Payment ((x)the excess of Max Prin Pymt (y) the Second Pool O/C 0.00 Redctin Amt) 8.6(d)(v) Accelerated Principal Distribution Amount 236,872.11 Loan Loss 62,517.33 Second Lien Overcollateralization Deficit 8.6 (d)(vi) 0.00 Total Certificateholders Distribution Allocable to 2,207,944.53 Principal
DISTRIBUTION AMOUNTS Class A-3 Class A-3 Note Interest 8.6 (d)(iv) 193,031.00 Class A-3 Note Unpaid Interest Shortfall (current cycle) 0.00 5.01(i) Class A-3 Note Reserve Fund Amount 0.00 Investor Loss Amount 5.01(iii) 146,657.14 Previous Investor Loss Amount 5.01(iv) 0.00 Monthly Credit Enhancer Premium 8.6 (d)(ii) 11,576.07 Credit Enhancer Reimbursement 5.01(vi) 0.00 Accelerated Principal Distribution Amount 5.01(vii) 134,612.52 Spread Account Deposit 5.01(viii) 0.00 Indenture Trustee Fee 8.6 (d)(i) 217.05 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 486,265.25 Interest Maximum Principal Payment 524,794.74 Scheduled Principal Collection Payment 0.00 Accelerated Principal Distribution Amount 134,612.52 Loan Loss 146,657.14 HLTV Lien Overcollateralization Deficit 8.6 (d)(vi) 0.00 Total Certificateholders Distribution Allocable to 806,064.40 Principal TOTAL DISTRIBUTION AMOUNT Class A Note Interest 8.6 (d)(iv) 1,130,506.57 Class A Note Unpaid Interest Shortfall (current cycle) 5.01(i) 0.00 Class A Note Reserve Fund Amount 364,527.60 Investor Loss Amount 5.01(iii) 290,853.26 Previous Investor Loss Amount 5.01(iv) 0.00 Monthly Credit Enhancer Premium 8.6 (d)(ii) 36,698.88 Credit Enhancer Reimbursement 5.01(vi) 0.00 Accelerated Principal Distribution Amount 5.01(vii) 371,484.63 Spread Account Deposit 5.01(viii) 0.00 Indenture Trustee Fee 8.6 (d)(i) 1,154.90 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 2,196,225.84 Interest Maximum Principal Payment 7,706,906.64 Scheduled Principal Collection Payment 0.00 Accelerated Principal Distribution Amount 371,484.63 Loan Loss 290,853.26 Overcollateralization Deficit 8.6 (d)(vi) 0.00 Total Certificateholders Distribution Allocable to 8,369,244.53 Principal 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 0.00 Rate 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 4.7852147 Interest Distribution Amount 4.7852147 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 39.9463914 Maximum Principal Payment 39.3371235 Scheduled Principal Collections Payment 0.0000000 Loan Loss 0.6092679 Accelerated Principal Distribution Amount 0.0000000 Class A-2 Total Class A-2 Note Distribution Amount Allocable to Interest 3.7657157 Interest Distribution Amount 3.7657157 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 28.0926297 Maximum Principal Payment 24.2833688 Scheduled Principal Collections Payment 0.0000000 Loan Loss 0.7954349 Accelerated Principal Distribution Amount 3.0138259 Class A-3 Total Class A-3 Note Distribution Amount Allocable to Interest 4.3863043 Interest Distribution Amount 4.3863043 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 18.3164555 Maximum Principal Payment 11.9250763 Scheduled Principal Collections Payment 0.0000000 Loan Loss 3.3325364 Accelerated Principal Distribution Amount 3.0588427 Reimbursed Investor Loss Reduction Amounts Included in Current Distribution 0.0000000 Investor Loss Reduction Amounts after Current Distribution 0.0000000 (carryover) Total Interest Amount Distributed to Class A Certificateholder 12.9372348 Total Principal Amount Distributed to Class A Certificateholder 86.3554766 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 1,893,260.09 Number of Mortgages 60 to 89 Days Delinquent 4 Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 187,195.67 Number of Mortgages 90 to 179 Days Delinquent 5 Aggregate Principal Balances of Mortgages 90 to 179 Days 171,114.29 Delinquent Number of Mortgages 180 or more Days Delinquent 1
Aggregate Principal Balances of Mortgages 180 or more Days Delinquent 99,864.20 Number of Mortgage Loans in Foreclosure 4 Aggregate Principal Balances of Mortgage Loans in Foreclosure 137,218.18 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 0.00 Month Class A-2 Number of Mortgages 30 to 59 Days Delinquent 25 Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 1,028,057.87 Number of Mortgages 60 to 89 Days Delinquent 9 Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 285,386.64 Number of Mortgages 90 to 179 Days Delinquent 2 Aggregate Principal Balances of Mortgages 90 to 179 Days 356,068.99 Delinquent Number of Mortgages 180 or more Days Delinquent 3 Aggregate Principal Balances of Mortgages 180 or more Days Delinquent 97,084.89 Number of Mortgage Loans in Foreclosure 6 Aggregate Principal Balances of Mortgage Loans in Foreclosure 338,545.07 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 0.00 Month Class A-3 Number of Mortgages 30 to 59 Days Delinquent 33 Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 1,244,386.12 Number of Mortgages 60 to 89 Days Delinquent 7 Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 278,363.91 Number of Mortgages 90 to 179 Days Delinquent 7 Aggregate Principal Balances of Mortgages 90 to 179 Days 269,808.52 Delinquent Number of Mortgages 180 or more Days Delinquent 4 Aggregate Principal Balances of Mortgages 180 or more Days Delinquent 133,068.24 Number of Mortgage Loans in Foreclosure 18 Aggregate Principal Balances of Mortgage Loans in Foreclosure 576,742.52 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 0.00 Month TOTAL DELINQUENCIES/FORECLOSURES Number of Mortgages 30 to 59 Days Delinquent 103 Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent 4,165,704.08 Number of Mortgages 60 to 89 Days Delinquent 20 Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent 750,946.22 Number of Mortgages 90 to 179 Days Delinquent 14 Aggregate Principal Balances of Mortgages 90 to 179 Days 796,991.80 Delinquent Number of Mortgages 180 or more Days Delinquent 8 Aggregate Principal Balances of Mortgages 180 or more Days Delinquent 330,017.33 Number of Mortgage Loans in Foreclosure 28 Aggregate Principal Balances of Mortgage Loans in Foreclosure 1,052,505.77 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 0.00 Month ============================================================================================================================= 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 2,144,344.33 Class A-1 Reserve Fund Deposit/Withdrawal 364,527.60 Class A-1 Reserve Fund Ending Balance 2,508,871.93 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: 6.46250% Current Collection Period: 12/01/99-12/31/99 Asset-Backed Notes Margin: 0.65000% P&S Agreement Date: 12/1/98 Series 1998-2 Class A-1 Note Rate: 7.11250% Original Closing Date: 12/29/98 Class A-2 Note Rate: 6.51000% Distribution Date: 1/18/00 Class A-3 Note Rate: 6.67000% Record Date: 1/17/00 Interest Period 3/15/99 34 Pool Factor: 68.7340712% thru 4/14/99: ================================================================================================================== BALANCES Beginning HELOC Pool Balance 100,263,659.81 Beginning Second Lien Pool Balance 59,557,102.29 Beginning HLTV Pool Balance 40,381,566.76 Beginning Class A-1 Note Balance -- CUSIP 422093AG9 95,500,086.64 Beginning Class A-2 Note Balance -- CUSIP 422093AH7 54,556,128.98 Beginning Class A-3 Note Balance -- CUSIP 422093AJ3 34,728,216.50 Ending HELOC Pool Balance 94,908,424.21 Ending Second Lien Pool Balance 57,586,029.87 Ending HLTV Pool Balance 39,710,114.88 Ending Class A-1 Note Balance -- CUSIP 422093AG9 90,144,851.04 Ending Class A-2 Note Balance -- CUSIP 422093AH7 52,348,184.45 Ending Class A-3 Note Balance -- CUSIP 33,922,152.10 422093AJ3 Additional Balances Class A-1 1,368,204.13 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 SubsequentSecond 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 0 Date) 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 5,634 Ending Loan Count 5,452 COLLECTION AMOUNTS Class A-1 Aggregate of All Mortgage Collections 7,681,604.75 Total Mortgage Interest Collections 1,081,620.33 Servicing Fees (current collection period) (41,776.52) Mortgage Principal Collections 6,641,760.94 Pre-Funded Balance 0.00 0.00 Total Mortgage Principal Collections 6,641,760.94
COLLECTION AMOUNTS Class A-2 Aggregate of All Mortgage Collections 2,472,247.28 Total Mortgage Interest Collections 588,507.65 Servicing Fees (current collection period) (24,815.46) Mortgage Principal Collections 1,908,555.09 Pre-Funded Balance 0.00 0.00 Total Mortgage Principal Collections 1,908,555.09 COLLECTION AMOUNTS Class A-3 Aggregate of All Mortgage Collections 989,262.18 Total Mortgage Interest Collections 481,293.09 Servicing Fees (current collection period) (16,825.65) Mortgage Principal Collections 524,794.74 Pre-Funded Balance 0.00 0.00 Total Mortgage Principal Collections 524,794.74 TOTAL COLLECTION AMOUNT Aggregate of All Mortgage Collections 11,226,531.84 Total Mortgage Interest Collections 2,151,421.07 Mortgage Principal Collections 9,075,110.77 Pre-Funded Balance 0.00 Total Mortgage Principal Collections 9,075,110.77 DISTRIBUTION AMOUNTS Class A-1 Class A-1 Note Interest 641,508.57 Class A-1 Note Unpaid Interest Shortfall (current 0.00 cycle) Class A-1 Note Reserve Fund Amount 364,527.60 Maximum Principal Payment 5,273,556.81 Scheduled Principal Collection 0.00 Accelerated Principal Distribution Amount 0.00 Loan Loss 81,678.79 HELOC Overcollateralization Deficit 0.00 Total Certificateholders Distribution Allocable to 5,355,235.60 Principal DISTRIBUTION AMOUNTS Class A-2 Class A-2 Note Interest 295,967.00 Class A-2 Note Unpaid Interest Shortfall (current 0.00 cycle) Class A-2 Note Reserve Fund Amount 0.00 Maximum Principal Payment 1,908,555.09 Scheduled Principal Collection 0.00 Accelerated Principal Distribution Amount 236,872.11 Loan Loss 62,517.33 HELOC Overcollateralization Deficit 0.00 Total Certificateholders Distribution Allocable to 2,207,944.53 Principal DISTRIBUTION AMOUNTS Class A-3 Class A-3 Note Interest 193,031.00 Class A-3 Note Unpaid Interest Shortfall (current 0.00 cycle) Class A-3 Note Reserve Fund Amount 0.00 Maximum Principal Payment 524,794.74 Scheduled Principal Collection Payment 0.00 Accelerated Principal Distribution Amount 134,612.52
Loan Loss 146,657.14 HLTV Lien Overcollateralization Deficit 0.00 Total Certificateholders Distribution Allocable to 806,064.40 Principal TOTAL DISTRIBUTION AMOUNT Class A Note Interest 1,130,506.57 Class A Note Unpaid Interest Shortfall (current cycle) 0.00 Class A Note Reserve Fund Amount 364,527.60 Maximum Principal Payment 7,706,906.64 Scheduled Principal Collection Payment/bal 0.00 Accelerated Principal Distribution Amount 371,484.63 Overcollateralization Deficit 0.00 Total Certificateholders Distribution Allocable to 8,078,391.27 Principal 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 0.00 Distributions) DISTRIBUTION TO CERTIFICATEHOLDERS (PER CERTIFICATE WITH A $1,000 DENOMINATION) Class A-1 Total Class A-1 Note Distribution Amount Allocable to 4.7852147 Interest Interest Distribution Amount 4.7852147 Unpaid Note Interest Shortfall Included in Current 0.0000000 Distribution Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000 Total Class A-1 Note Distribution Amount Allocable to 39.9463914 Principal Maximum Principal Payment 39.3371235 Scheduled Principal Collections Payment 0.0000000 Loan Loss 0.6092679 Accelerated Principal Distribution Amount 0.0000000 Class A-2 Total Class A-2 Note Distribution Amount Allocable to 3.7657157 Interest Interest Distribution Amount 3.7657157 Unpaid Note Interest Shortfall Included in Current 0.0000000 Distribution Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000 Total Class A-2 Note Distribution Amount Allocable to 28.0926297 Principal Maximum Principal Payment 24.2833688 Scheduled Principal Collections Payment 0.0000000 Loan Loss 0.7954349 Accelerated Principal Distribution Amount 3.0138259 Class A-3 Total Class A-3 Note Distribution Amount Allocable to 4.3863043 Interest Interest Distribution Amount 4.3863043 Unpaid Note Interest Shortfall Included in Current 0.0000000 Distribution Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover) 0.0000000
Total Class A-3 Note Distribution Amount Allocable to 18.3164555 Principal Maximum Principal Payment 11.9250763 Scheduled Principal Collections Payment 0.0000000 Loan Loss 3.3325364 Accelerated Principal Distribution Amount 3.0588427 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 12.9372348 Certificateholder Total Principal Amount Distributed to Class A Certificateholder 86.3554766 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 1,893,260.09 Number of Mortgages 61 to 90 Days Delinquent 4 Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 187,195.67 Number of Mortgages 91 to 180 or more Days Delinquent 5 Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 171,114.29 Number of Mortgages 181 or more Days Delinquent 1 Aggregate Principal Balances of Mortgages 181 or more Days Delinquent 99,864.20 Number of Mortgage Loans in Foreclosure 4 Aggregate Principal Balances of Mortgage Loans in 137,218.18 Foreclosure 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-2 Number of Mortgages 31 to 60 Days Delinquent 25 Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 1,028,057.87 Number of Mortgages 61 to 90 Days Delinquent 9 Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 285,386.64 Number of Mortgages 91 to 180 or more Days Delinquent 2 Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 356,068.99 Number of Mortgages 181 or more Days Delinquent 3 Aggregate Principal Balances of Mortgages 181 or more Days Delinquent 97,084.89 Number of Mortgage Loans in Foreclosure 6 Aggregate Principal Balances of Mortgage Loans in 338,545.07 Foreclosure 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 33 Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 1,244,386.12 Number of Mortgages 61 to 90 Days Delinquent 7 Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 278,363.91 Number of Mortgages 91 to 180 or more Days Delinquent 7 Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 269,808.52 Number of Mortgages 181 or more Days Delinquent 4 Aggregate Principal Balances of Mortgages 181 or more Days Delinquent 133,068.24 Number of Mortgage Loans in Foreclosure 18 Aggregate Principal Balances of Mortgage Loans in 576,742.52 Foreclosure 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 103 Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent 4,165,704.08 Number of Mortgages 61 to 90 Days Delinquent 20 Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent 750,946.22 Number of Mortgages 91 to 180 or more Days Delinquent 14 Aggregate Principal Balances of Mortgages 91 to 180 or more Days Delinquent 796,991.80 Number of Mortgages 181 or more Days Delinquent 8 Aggregate Principal Balances of Mortgages 181 or more Days Delinquent 330,017.33 Number of Mortgage Loans in Foreclosure 28 Aggregate Principal Balances of Mortgage Loans in 1,052,505.77 Foreclosure 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-1 Note Rate For Next Distribution LIBOR tbd #VALUE! 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 2,144,344.33 Class A-1 Reserve Fund Deposit/Withdrawal 364,527.60 Class A-1 Reserve Fund Ending Balance 2,508,871.93 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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