-----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, RDinYJSU+GoC/HtogziSJJ5mcBogX9MUnUhFsn/YEVCE7YBpi4jpv1IdeJUllVgj 1HTNqngIZgsH4eS40N9ulA== 0001056404-99-000472.txt : 19990811 0001056404-99-000472.hdr.sgml : 19990811 ACCESSION NUMBER: 0001056404-99-000472 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990726 ITEM INFORMATION: FILED AS OF DATE: 19990810 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MELLON RESIDENTIAL FUNDING COR MOR PAS THR CER SER 1999-TBC2 CENTRAL INDEX KEY: 0001088904 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 232889067 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-72907-01 FILM NUMBER: 99682244 BUSINESS ADDRESS: STREET 1: ONE MELLON BANK CENTER STREET 2: 410 ROOM CITY: PITTSBURGH STATE: PA ZIP: 15258 BUSINESS PHONE: 4122366559 MAIL ADDRESS: STREET 1: ONE MELLON BANK CENTER STREET 2: 410 ROOM CITY: PITTSBURGH STATE: PA ZIP: 15258 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): July 26, 1999 MELLON RESIDENTIAL FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 1999-BC2 Trust New York (governing law of 333-72907-01 Pending Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction c/o Norwest Bank Minnesota, N.A. 11000 Broken Land Parkway 21044 Columbia, MD (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 July 26, 1999 a distribution was made to holders of MELLON RESIDENTIAL FUNDING CORPORATION, Mortgage Pass-Through Certificates, Series 1999-BC2 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-BC2 Trust, relating to the July 26, 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. MELLON RESIDENTIAL FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 1999-BC2 Trust By: Norwest Bank Minnesota, N.A., as Trustee By: /s/ Sherri J. Sharps, Vice President By: Sherri J. Sharps, Vice President Date: 8/3/99 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 1999-BC2 Trust, relating to the July 26, 1999 distribution. EX-99.1 2
Mellon Residential Funding Corporation Mortgage Pass-Through Certificates Record Date: 6/30/99 Distribution Date: 7/26/99 MRF Series: 1999-BC2 Contact: Customer Service Norwest Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 846-8130 Fax: (301) 846-8152 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 585525CT3 SEQ 6.46000% 157,000,000.00 845,183.33 3,430,942.26 A-2 585525CU0 SEQ 6.57000% 143,000,000.00 782,925.00 0.00 A-3 585525CV8 SEQ 6.58000% 228,411,000.00 1,252,453.65 0.00 A-R MRF99B2AR RES 6.68621% 100.00 1.00 100.00 X 585525CW6 IO 0.14059% 0.00 63,658.32 0.00 B-1 585525CY2 SUB 6.68621% 4,075,000.00 22,705.25 0.00 B-2 585525CZ9 SUB 6.68621% 2,717,000.00 15,138.69 0.00 B-3 585525DA3 SUB 6.68621% 2,717,000.00 15,138.69 0.00 B-4 585525DB1 SUB 6.68621% 2,717,000.00 15,138.69 0.00 B-5 585525DC9 SUB 6.68621% 1,358,000.00 7,566.56 0.00 B-6 585525DD7 SUB 6.68621% 1,357,808.29 7,565.49 0.00 Totals 543,352,908.29 3,027,474.67 3,431,042.26
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 153,569,057.74 4,276,125.59 0.00 A-2 0.00 143,000,000.00 782,925.00 0.00 A-3 0.00 228,411,000.00 1,252,453.65 0.00 A-R 0.00 0.00 101.00 0.00 X 0.00 0.00 63,658.32 0.00 B-1 0.00 4,075,000.00 22,705.25 0.00 B-2 0.00 2,717,000.00 15,138.69 0.00 B-3 0.00 2,717,000.00 15,138.69 0.00 B-4 0.00 2,717,000.00 15,138.69 0.00 B-5 0.00 1,358,000.00 7,566.56 0.00 B-6 0.00 1,357,808.29 7,565.49 0.00 Totals 0.00 539,921,866.03 6,458,516.93 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. Edward M. Frere, Jr. Vice President, Norwest Bank Minnesota, N.A.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 157,000,000.00 157,000,000.00 107,917.56 3,323,024.70 0.00 0.00 A-2 143,000,000.00 143,000,000.00 0.00 0.00 0.00 0.00 A-3 228,411,000.00 228,411,000.00 0.00 0.00 0.00 0.00 A-R 100.00 100.00 3.15 96.85 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 B-1 4,075,000.00 4,075,000.00 0.00 0.00 0.00 0.00 B-2 2,717,000.00 2,717,000.00 0.00 0.00 0.00 0.00 B-3 2,717,000.00 2,717,000.00 0.00 0.00 0.00 0.00 B-4 2,717,000.00 2,717,000.00 0.00 0.00 0.00 0.00 B-5 1,358,000.00 1,358,000.00 0.00 0.00 0.00 0.00 B-6 1,357,808.29 1,357,808.29 0.00 0.00 0.00 0.00 Totals 543,352,908.29 543,352,908.29 107,920.71 3,323,121.55 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-1 3,430,942.26 153,569,057.74 0.97814686 3,430,942.26 A-2 0.00 143,000,000.00 1.00000000 0.00 A-3 0.00 228,411,000.00 1.00000000 0.00 A-R 100.00 0.00 0.00000000 100.00 X 0.00 0.00 0.00000000 0.00 B-1 0.00 4,075,000.00 1.00000000 0.00 B-2 0.00 2,717,000.00 1.00000000 0.00 B-3 0.00 2,717,000.00 1.00000000 0.00 B-4 0.00 2,717,000.00 1.00000000 0.00 B-5 0.00 1,358,000.00 1.00000000 0.00 B-6 0.00 1,357,808.29 1.00000000 0.00 Totals 3,431,042.26 539,921,866.03 0.99368543 3,431,042.26
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 157,000,000.00 1000.00000000 0.68737299 21.16576242 0.00000000 A-2 143,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 228,411,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 1000.00000000 31.50000000 968.50000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,075,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 2,717,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 2,717,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 2,717,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 1,358,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 1,357,808.29 1000.00000000 0.00000000 0.00000000 0.00000000 (2) Per $1,000 Denomination
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 21.85313541 978.14686459 0.97814686 21.85313541 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-R 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-6 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-1 157,000,000.00 6.46000% 157,000,000.00 845,183.33 0.00 0.00 A-2 143,000,000.00 6.57000% 143,000,000.00 782,925.00 0.00 0.00 A-3 228,411,000.00 6.58000% 228,411,000.00 1,252,453.65 0.00 0.00 A-R 100.00 6.68621% 0.00 0.56 0.00 0.00 X 0.00 0.14059% 543,352,908.00 63,658.32 0.00 0.00 B-1 4,075,000.00 6.68621% 4,075,000.00 22,705.25 0.00 0.00 B-2 2,717,000.00 6.68621% 2,717,000.00 15,138.69 0.00 0.00 B-3 2,717,000.00 6.68621% 2,717,000.00 15,138.69 0.00 0.00 B-4 2,717,000.00 6.68621% 2,717,000.00 15,138.69 0.00 0.00 B-5 1,358,000.00 6.68621% 1,358,000.00 7,566.56 0.00 0.00 B-6 1,357,808.29 6.68621% 1,357,808.29 7,565.49 0.00 0.00 Totals 543,352,908.29 3,027,474.23 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-1 0.00 0.00 845,183.33 0.00 153,569,057.74 A-2 0.00 0.00 782,925.00 0.00 143,000,000.00 A-3 0.00 0.00 1,252,453.65 0.00 228,411,000.00 A-R 0.00 0.00 1.00 0.00 0.00 X 0.00 0.00 63,658.32 0.00 539,921,865.74 B-1 0.00 0.00 22,705.25 0.00 4,075,000.00 B-2 0.00 0.00 15,138.69 0.00 2,717,000.00 B-3 0.00 0.00 15,138.69 0.00 2,717,000.00 B-4 0.00 0.00 15,138.69 0.00 2,717,000.00 B-5 0.00 0.00 7,566.56 0.00 1,358,000.00 B-6 0.00 0.00 7,565.49 0.00 1,357,808.29 Totals 0.00 0.00 3,027,474.67 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-1 157,000,000.00 6.46000% 1000.00000000 5.38333331 0.00000000 0.00000000 A-2 143,000,000.00 6.57000% 1000.00000000 5.47500000 0.00000000 0.00000000 A-3 228,411,000.00 6.58000% 1000.00000000 5.48333333 0.00000000 0.00000000 A-R 100.00 6.68621% 0.00000000 5.60000000 0.00000000 0.00000000 X 0.00 0.14059% 1000.00000000 0.11715833 0.00000000 0.00000000 B-1 4,075,000.00 6.68621% 1000.00000000 5.57184049 0.00000000 0.00000000 B-2 2,717,000.00 6.68621% 1000.00000000 5.57184026 0.00000000 0.00000000 B-3 2,717,000.00 6.68621% 1000.00000000 5.57184026 0.00000000 0.00000000 B-4 2,717,000.00 6.68621% 1000.00000000 5.57184026 0.00000000 0.00000000 B-5 1,358,000.00 6.68621% 1000.00000000 5.57184094 0.00000000 0.00000000 B-6 1,357,808.29 6.68621% 1000.00000000 5.57183960 0.00000000 0.00000000 (5) Per $1,000 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-1 0.00000000 0.00000000 5.38333331 0.00000000 978.14686459 A-2 0.00000000 0.00000000 5.47500000 0.00000000 1000.00000000 A-3 0.00000000 0.00000000 5.48333333 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 10.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 0.11715833 0.00000000 993.68542579 B-1 0.00000000 0.00000000 5.57184049 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 5.57184026 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 5.57184026 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 5.57184026 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 5.57184094 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 5.57183960 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 Component Statement Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Rate Balance Balance Balance Balance Percentage Class MR 6.68621% 0.00 0.00 100.00 0.00 0.00000000% SR 0.00000% 0.00 0.00 0.00 0.00 0.00000000%
CERTIFICATE ACCOUNT Certificateholder Account Statement Beginning Balance 0.00 Deposits Payments of Interest and Principal 6,575,790.61 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Total Deposits 6,575,790.61 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 117,273.68 Payment of Interest and Principal 6,458,516.93 Total Withdrawals (Pool Distribution Amount) 6,575,790.61 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 113,198.52 Trustee Fee 4,075.14 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 117,273.66
Certificateholder Deliquency / Credit Enhancement Statement DELINQUENCY STATUS Percentage Delinquent Based On Current Unpaid Number Principal Number Unpaid Of Loans Balance Of Loans Balance 30 Days 0 0.00 0.000000% 0.000000% 60 Days 0 0.00 0.000000% 0.000000% 90+ Days 0 0.00 0.000000% 0.000000% Foreclosure 0 0.00 0.000000% 0.000000% REO 0 0.00 0.000000% 0.000000% Totals 0 0.00 0.000000% 0.000000%
OTHER INFORMATION Current Period Realized Loss - Includes Interest Shortfall 0.00 Cumulative Realized Losses - Includes Interest Shortfall 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 200,000.00 0.03680849% 200,000.00 0.03704240% Fraud 10,867,058.17 2.00000000% 10,867,058.17 2.01270940% Special Hazard 12,793,688.00 2.35458167% 12,793,688.00 2.36954434% Limit of Subordinate's Exposure to Certain Types of Losses
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.945206% Weighted Average Net Coupon 6.686206% Weighted Average Pass-Through Rate 6.685838% Weighted Average Maturity(Stepdown Calculation ) 331 Beginning Scheduled Collateral Loan Count 889 Number Of Loans Paid In Full 4 Ending Scheduled Collateral Loan Count 885 Beginning Scheduled Collateral Balance 543,352,908.29 Ending Scheduled Collateral Balance 539,921,866.03 Ending Actual Collateral Balance at 30-Jun-1999 539,921,866.03 Monthly P &I Constant 3,252,669.07 Ending Scheduled Balance for Premium Loans 539,921,866.03
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