-----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, INhHDoAopczBf8EvpINdXvVICAn2b2htMqd3WWsfnUxcc/NXgqwYW42oP4h//3x9 S1z7mijlLtB6HhAhx4BHIg== 0000901833-97-000002.txt : 19980414 0000901833-97-000002.hdr.sgml : 19980414 ACCESSION NUMBER: 0000901833-97-000002 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970404 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA MORTGAGE CONDUIT SERVICES INC CENTRAL INDEX KEY: 0000901833 STANDARD INDUSTRIAL CLASSIFICATION: 6189 IRS NUMBER: 232723382 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: SEC FILE NUMBER: 033-61474 FILM NUMBER: 97574826 BUSINESS ADDRESS: STREET 1: 16875 W BERNARDO DR CITY: SAN DIEGO STATE: CA ZIP: 92127 MAIL ADDRESS: STREET 1: 16875 WEST BERNARDO DR CITY: SAN DIEGO STATE: CA ZIP: 92127 10-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) of THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended December 31, 1996 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from________________to_______________. Commission file number 33-95006 ADVANTA Home Equity Loan Trust 1996-1 New York 33-6182296 (State of other juris (IRS Employer incorporation or org Identification No.) c/o Bankers Trust Company 4 Albany Street New York, NY 10015 Registrant's telephone number, including area code: (212) 250-2500 Securities registered pursuant to Section 12(b) of the Act. Title of each class Name of each exchange on which registered: None None Securities registered pursuant to Section 12(g) of the Act: None (Title of class) Indicated by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K ($ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [X] State the aggregate market value of the voting stock held by non-affiliates of registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of specified date within 60 days prior to the date of filing: $226,853,243.60 Documents Incorporated by Reference: Not Applicable PART 1 ITEM 1 - BUSINESS The ADVANTA Home Equity Loan Trust 1996-1, (the "Trust" or "Issuer") is a New York common law trust established as of February 1, 1996, pursuant to a Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") between ADVANTA Mortgage Conduit Services, Inc. as sponsors (the "Sponsor") and ADVANTA Mortgage Corp. USA as Master Servicer (the "Master Servicer") (together, the "Companies") and Bankers Trust Company, acting thereunder not in its individual capacity but solely as trustee (the "Trustee"). The Issuer's only purpose is the issuance of $300,000,000.00 principal amount of ADVANTA Home Equity Loan Pass-Through Certificates, Series1996-1, Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, and Class A-8-I (the "Certificates") and the subordinated residual certificates pursuant to the Pooling and Servicing Agreement. On February 15, 1996, the Sponsor sold $300,000,000.00 aggregate principal amount of mortgage loans (the "Mortgage Loans"), to the Issuer in exchange for the Certificates and sold the Certificates pursuant to a public offering, the underwriting of which was co-managed by Merrill Lynch & Company and Prudential Securities Incorporated. The Mortgage Loans and the distributions thereon, along with certain insurance proceeds, certain proceeds obtained on foreclosure and any investment income earned thereon, are the only significant assets of the Issuer. The Certificates represent obligations solely of the Issuer. The Certificates were registered under a Registration Statement (file no. 33-95006) on Form S-3 declared effective on September 13, 1995. ITEM 2 - PROPERTIES The Issuer neither owns nor leases any physical properties. ITEM 3 - LEGAL PROCEEDINGS The Master Servicer is not aware of any material pending legal proceedings involving either the Issuer, the Trustee, the Sponsor or the Master Servicer with respect to the Certificates or the Issuer's property. ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS No matter has been submitted to a vote of the holders of beneficial interests in the Issuer through the solicitation of proxies or otherwise. PART II ITEM 5 - MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCK- HOLDER MATTERS The Trust is not an issuer of common stock in a corporation, although the Certificates represent equity interest that has voting rights. The equity of the Trust consists of the beneficial or ownership interest therein for which, to the best knowledge of the Master Servicer, there is no established public trading market. As of March 28, 1997, there were approximately 8 holders of the Class A-1 Certificates, 4 holders of the Class A-2 Certificates, 8 holder of the Class A-3 Certificates, 1 holder of the Class A-4 Certificates, 6 holders of the Class A-5 Certificates, 5 holders of the Class A-6 Certificates, 13 holders of the Class A-7 Certificates, and 5 holders of the Class A-8-I Certificates. The number of holders includes individual participants in security position listings. As of December 26, 1996, 10 monthly distributions had been made to the holders of the Certificates. ITEM 6 - SELECTED FINANCIAL DATA Not applicable. ITEM 7 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS RESULTS OF OPERATION On February 15, 1996, the Issuer issued $78,740,000.00 aggregate principal amount of Class A-1 Certificates having pass-through rates of 6.14% per annum, $30,320,000.00 aggregate principal amount of Class A-2 Certificates having a pass-through rate of 5.9% per annum, $36,790,000.00 aggregate principal amount of Class A-3 Certificates having a pass-through rate of 6.03% per annum, $10,670,000.00 aggregate principal amount of Class A-4 Certificates having a pass-through rate of 6.23% per annum, $35,520,000.00 aggregate principal amount of Class A-5 Certificates having a pass-through rate of 6.35% per annum, $15,580,000.00 aggregate principal amount of Class A-6 Certificates having a pass-through rate of 6.73% per annum, $22,380,000.00 aggregate principal amount of Class A-7 Certificates having a pass-through rate of 7.07% per annum, and $70,000,000.00 aggregate principal amount of Class A-8-I Certificates having a variable monthly rate, which are collateralized by Mortgage Loans. The sale of the Mortgage Loans to the Issuer, the issuance of the Certificates and the simultaneous delivery of the Certificates to the Companies for sale pursuant to a public offering, the underwriting of which was co-managed by Merrill Lynch & Company and Prudential Securities Incorporated, has been accounted for as a sale of the Certificates. The value of the Certificates issued by the Issuer equaled the value of the Mortgage Loans conveyed to the Issuer by the Companies, plus funds held in the Prefunding Account (if any) and subsequently used to acquire additional mortgage loans. Accordingly, there was no income, expense, gain or loss resulting from the aforementioned transaction. CAPITAL RESOURCES AND LIQUIDITY The Issuer's primary sources of funds with respect to the Certificates will be receipts of interest on and principal of the Mortgage Loans, along with certain insurance proceeds, certain proceeds obtained on foreclosure and any investment income earned thereon. The respective management's of the Companies believe that the Issuer will have sufficient liquidity and capital resources to pay all amounts on the Certificates as they become due and all other anticipated expenses of the Issuer. The Issuer does not have, nor will it have in the future, any significant source of capital for payment of the Certificates and its operating expenses other than the receipt of interest on and principal of the mortgage loans, certain insurance proceeds and certain proceeds obtained on foreclosure and any payments made by the Certificate Insurer. The Issuer is a limited purpose trust. The Certificates represent obligations solely of the Issuer. ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Not applicable. ITEM 9 - CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE There were no changes of accountants or disagreements on accounting of financial disclosures between the Issuer and its accountants. PART III ITEM 10 - DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT The Issuer does not have any directors or officers. ITEM 11 - EXECUTIVE COMPENSATION Not applicable. See "Item 10-Directors and Executive Officers of the Registrant". ITEM 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets forth (i) the name and address of each entity owning more than 5% of the outstanding principal amount of the ADVANTA Home Equity Loan Certificates, Series 1996-1, Class A-1 ("Class A-1 Certificates"), the name and address of each entity owning more than 5% of the outstanding principal amount of the ADVANTA Home Equity Loan Certificates, Series 1996-1, Class A-2 ("Class A-2 Certificates"), the name and address of each entity owning more than 5% of the outstanding principal amount of the ADVANTA Home Equity Loan Certificates, Series 1996-1, Class A-3 ("Class A-3 Certificates"), the name and address of each entity owning more than 5% of the outstanding principal amount of the ADVANTA Home Equity Loan Certificates, Series 1996-1, Class A-4 ("Class A-4 Certificates"), the name and address of each entity owning more than 5% of the outstanding principal amount of the ADVANTA Home Equity Loan Certificates, Series 1996-1, Class A-5 ("Class A-5 Certificates"), the name and address of each entity owning more than 5% of the outstanding principal amount of the ADVANTA Home Equity Loan Certificates, Series 1996-1, Class A-6 ("Class A-6 Certificates"), the name and address of each entity owning more than 5% of the outstanding principal amount of the ADVANTA Home Equity Loan Certificates, Series 1996-1, Class A-7 ("Class A-7 Certificates"), and the name and address of each entity owning more than 5% of the outstanding principal amount of the ADVANTA Home Equity Loan Certificates, Series 1996-1, Class A-8I ("Class A-8I Certificates"),;(ii) the principal amount of the Class A-1 Certificates or Class A-2 Certificates or Class A-3 Certificates or Class A-4 Certificates or Class A-5 Certificates or Class A-6 Certificates or Class A-7 Certificates or Class A-8I Certificates owned by each and (iii) the percent that the principal amount of Class A-1 Certificates or Class A-2 Certificates or Class A-3 Certificates or Class A-4 Certificates or Class A-5 Certificates or Class A-6 Certificates or Class A-7 Certificates or Class A-8I Certificates owned represents of the outstanding principal amount of the Class A-1 Certificates or Class A-2 Certificates or Class A-3 Certificates or Class A-4 Certificates or Class A-5 Certificates or Class A-6 Certificates or Class A-7 Certificates or Class A-8I Certificates, respectively. The Information set forth in the table is based upon information obtained by the Issuer from Depository Trust Company. The Master Servicer is not aware of any Schedules 13D or 13G filed with the Securities and Exchange Commission in respect of the Certificates. Amount Owned (All Dollar Amounts are in Thousands) Name and Address Principal Percent Class A-1 Certificates Bankers Trust Company C/O BT Svcs Tennessee, Inc. Custody Services 648 Grassmere Park Road Nashville, TN 37211 20.96% Chase Manhattan Bk/Chem Auto Settle Department 4 New York Plaza, 4th Floor New York, NY 10004 67.95% Class A-2 Certificates Chase Manhattan Bk/Chem Auto Settle Department 4 New York Plaza, 4th Floor New York, NY 10004 42.88% Bankers Trust Company C/O BT Svcs Tennessee, Inc. Custody Services 648 Grassmere Park Road Nashville, TN 37211 24.14% Citicorp Services, Inc. P.O. Box 30576 Tampa, FL 33630-3576 16.49% Boston Safe Dep & Trust Co. c/o Mellon Bank N.A. Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259 16.49% Class A-3 Certificates Bank of New York 925 Patterson Plank Rd. Secaucus, NJ 07094 71.46% Fleet Bank of Massachusetts c/o ADP Proxy Services 51 Mercedes Way Edgewood, NY 11717 10.87% Chase Manhattan Bk/Chem Auto Settle Department 4 New York Plaza, 4th Floor New York, NY 10004 5.44% Class A-4 Certificates Bankers Trust Company c/o BT Svcs Tennessee, Inc. Custody Services 648 Grassmere Park Road Nashville, TN 37211 100.00% Class A-5 Certificates Bank of New York 925 Patterson Plank Rd. Secaucus, NJ 07094 34.91% Bankers Trust Company c/o BT Svcs Tennessee Inc. Custody Services 648 Grassmere Park Road Nashville, TN 37211 40.82% Comerica Bank 411 W. Lafayette Detroit, MI 48286 12.73% Merrill Lynch, Pierce, Fenner & Smith Safekeeping 4 Corporate Place Corporate Park 287, 2nd Floor Piscataway, NJ 08855 5.91% Class A-6 Certificates Bank of New York 925 Patterson Plank Rd. Secaucus, NJ 07094 11.23% Chase Manhattan Bank Two Chase Manhattan Plaza New York, NY 10081 49.94% Northern Trust Company 801 S. Canal C-ln Chicago, IL 60607 28.88% Class A-7 Certificates Bank of New York 925 Patterson Plank Rd. Secaucus, NJ 07094 17.87% Chase Manhattan Bank Two Chase Manhattan Plaza New York, NY 10081 8.04% SSB-Custodian Global Proxy Unit, A5NW P.O. Box 1631 Boston, MA 02105-1631 23.24% Norwest Bank Minnesota 733 Marquette Avenue Minneapolis, MN 55479-0 7.04% Fifth Third Bank Dept. 00850 - Proxy 38 Fountain Square Plaza Cincinnati, OH 45263 19.57% PNC National Association 1835 Market Street 11 Penn Center, 15th Floor Philadelphia, PA 19103 5.81% Class A-8I Certificates Citicorp Services, Inc. P.O. Box 30576 Tampa, FL 33630-3576 7.14% Chase Manhattan Bk/Chem Auto Settle Department 4 New York Plaza, 4th Floor New York, NY 10004 68.58% First National Bank of Chicago One First National Plaza Chicago, IL 60670 7.14% Republic National Bank of New York - Investment Acct One Hanson Place Brooklyn, NY 11243 10.00% Sumitomo Trust & Banking Co 527 Madison Avenue New York, NY 10022 7.14% ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS None PART IV ITEM 14 - EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K (a) The following documents are filed as part of this report: 1. Financial Statements: Not applicable. 2. Financial Statement Schedules: Not applicable. 3. Exhibits: As the Issuer was established as of February 1, 1996, the Master Servicer was obligated to prepare an Annual Statement to Certificateholders as to Compliance for the year ended December 31, 1996, and mail such statement to the Certificateholders on or before the last day of March, 1997 and Independent Certified Public Accountants were required to prepare an annual report pertaining to the compliance of the Master Servicer with its servicing obligations pursuant to the Pooling and Servicing Agreement on or before the last day of March, 1997. The Annual Statement to Certificateholders as to Compliance is included herewith as Exhibit 28.1 and the Annual Independent Certified Public Accountants' Report is included herewith as Exhibit 28.2. The Statement to Certificateholders on December 26, 1996, is included herewith as Exhibit 28.3. Exhibit No. Description *3.1 Certificates of Incorporation of the Companies *3.2 By-laws of the Companies *4 Pooling and Servicing Agreement 28.1 Annual Statement to Certificateholders as to Compliance for the year ended December 31, 1996. 28.2 Annual Independent Certified Public Accountants' Report. 28.3 Statement to Certificateholders on December 26, 1996. * Incorporated by reference to the Exhibit of the same designation filed with the Issuer's Form S-3 registration statement declared effective September 13, 1995. (b) Reports on Form 8-K. Nine reports on Form 8-K have been filed by the Issuer during the period covered by this report. Items Reported/Financial Date of Reports on Form Statements Filed May 31, 1996 Monthly Report for the February 1996 Monthly period relating to the ADVANTA Home Equity Loan Pass-through Certificates 1996-1, Class A-1 Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, and Class A-8I issued issued by the ADVANTA Home Equity Loan Trust 1996-1. May 31, 1996 Monthly Report for the March 1996 Monthly period relating to the ADVANTA Home Equity Loan Pass-through Certificates 1996-1, Class A-1 Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, and Class A-8I issued issued by the ADVANTA Home Equity Loan Trust 1996-1. May 31, 1996 Monthly Report for the April 1996 Monthly period relating to the ADVANTA Home Equity Loan Pass-through Certificates 1996-1, Class A-1 Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, and Class A-8I issued issued by the ADVANTA Home Equity Loan Trust 1996-1. July 17, 1996 Monthly Report for the May 1996 Monthly period relating to the ADVANTA Home Equity Loan Pass-through Certificates 1996-1, Class A-1 Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, and Class A-8I issued issued by the ADVANTA Home Equity Loan Trust 1996-1. October 25, 1996Monthly Report for the June 1996 Monthly period relating to the ADVANTA Home Equity Loan Pass-through Certificates 1996-1, Class A-1 Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, and Class A-8I issued issued by the ADVANTA Home Equity Loan Trust 1996-1. October 25, 1996Monthly Report for the July 1996 Monthly period relating to the ADVANTA Home Equity Loan Pass-through Certificates 1996-1, Class A-1 Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, and Class A-8I issued issued by the ADVANTA Home Equity Loan Trust 1996-1. October 25, 1996Monthly Report for the August 1996 Monthly period relating to the ADVANTA Home Equity Loan Pass-through Certificates 1996-1, Class A-1 Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, and Class A-8I issued issued by the ADVANTA Home Equity Loan Trust 1996-1. November 27, 199Monthly Report for the September 1996 Monthly period relating to the ADVANTA Home Equity Loan Pass-through Certificates 1996-1, Class A-1 Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, and Class A-8I issued issued by the ADVANTA Home Equity Loan Trust 1996-1. November 27, 199Monthly Report for the October 1996 Monthly period relating to the ADVANTA Home Equity Loan Pass-through Certificates 1996-1, Class A-1 Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, and Class A-8I issued issued by the ADVANTA Home Equity Loan Trust 1996-1. (c) See "Item 14(a) (3)-Exhibits". (d) Not applicable. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) 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. ADVANTA Mortgage Corp., USA, as Master Servicer and on behalf of ADVANTA Home Equity Loan Trust 1996-1 Registrant BY; /s/ William P. Garland William P. Garland Senior Vice President Loan Service Administration March 31, 1997 INDEX TO EXHIBITS (Item 14(c)) Exhibit # Description *3.1 Certificates of Incorporation of the Companies *3.2 By-laws of the Companies. *4 Pooling and Servicing Agreement 28.1 Annual Statement to Certificateholders as to Compliance for the year ended December 31, 1996. 28.2 Annual Independent Certified Public Accountants' Report. 28.3 Statement to Certificateholders on December 26, 1996. * Incorporated by reference to the Exhibit of the same designation filed with the Issuer's Form S-3 registration statement declared effective September 13, 1995. EXHIBIT 28.1 March 27, 1997 Bankers Trust Company(291) Attention: Erin Deegan 3 Park Plaza -- 16th Floor Irvine, CA 92714 RE: Annual Statement as to Compliance Pursuant to that certain Loan Servicing Agreement ("Agreement") dated as of February 1, 1996, relating to ADVANTA Mortgage Loan Trust 1996-1., I, William P. Garland, hereby certify that (I) a review of the activities of the Servicer during the preceding year and the performance under this Agreement has been made under my supervision, and (II) to the best of my knowledge, based on such review, the Servicer has fulfilled all its obligations under this Agreement for such year. Sincerely, BY; /s/ William P. Garland William P. Garland Senior Vice President Loan Service Administration WPG/cg cc: Mr. James L. Shreero Annette Aguirre, Esq. Mr. Mark Casale
EXHIBIT 28.2 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To ADVANTA Mortgage Corp. USA: We have examined management's assertion about Advanta Mortgage Corp. USA's compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) and that Advanta Mortgage Corp. USA had in effect fidelity bond coverage in the amount of $15 million and mortgage contingent liability protection coverage in the amount of $2 million as of and for the year ended December 31, 1996 included in the accompanying management assertion. Management is responsible for Advanta Mortgage Corp. USA's compliance with those minimum servicing standards and for maintaining fidelity bond and mortgage contingent liability protection coverage policies. Our responsibility is to express an opinion on management's assertion about the entity's compliance with the minimum servicing standards and maintenance of fidelity bond and mortgage contingent liability protection coverage policies based on our examination. Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants, and accordingly, included examining, on a test basis, evidence about Advanta Mortgage Corp. USA's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Advanta Mortgage Corp. USA's compliance with the minimum servicing standards. In our opinion, management's assertion that Advanta Mortgage Corp. USA complied with the aforementioned minimum servicing standards and that Advanta Mortgage Corp. USA had in effect fidelity bond coverage in the amount of $15 million and mortgage contingent liability protection coverage in the amount of $2 million as of and for the year ended December 31, 1996 is fairly stated, in all material respects. BY; /s/ Arthur Andersen LLP Philadelphia, PA January 21, 1997
EXHIBIT 28.3 ADVANTA Mortgage Loan Trust 1996-1 Statement to Certificateholders
Original Prior Face Principal Class Value Balance Interest Principal Total A-1 78,740,000.0 41,731,016.4 213,523 4,335,202.1 4,548,725.89 A-2 30,320,000.0 30,320,000.0 149,073 149,073.33 A-3 36,790,000.0 36,790,000.0 184,869 184,869.75 A-4 10,670,000.0 10,670,000.0 55,39 55,395.08 A-5 35,520,000.0 35,520,000.0 187,960 187,960.00 A-6 15,580,000.0 15,580,000.0 87,37 87,377.83 A-7 22,380,000.0 22,380,000.0 131,855 131,855.50 A-8-I 70,000,000.0 53,948,040.9 270,021 1,788,233.6 2,058,254.78 RS 820,027 820,027.66 Totals 300,000,000.00 246,939,057.30 2,100,104. 6,123,435.7 8,223,539.82
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A-1 37,395,814.2 6.140000% 6.140000% A-2 30,320,000.0 5.900000% 5.900000% A-3 36,790,000.0 6.030000% 6.030000% A-4 10,670,000.0 6.230000% 6.230000% A-5 35,520,000.0 6.350000% 6.350000% A-6 15,580,000.0 6.730000% 6.730000% A-7 22,380,000.0 7.070000% 7.070000% A-8-I 52,159,807.3 5.812500% 6.125000% RS 0.000000% 0.000000% Totals 240,815,621.51
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A-1 00755WBX3 529.984968 2.711756 55.057178 57.768934 474.92779 A-2 00755WBY1 1000 4.916667 0 4.916667 1000 A-3 00755WBZ8 1000 5.025 0 5.025 1000 A-4 00755WCA2 1000 5.191666 0 5.191666 1000 A-5 00755WCB0 1000 5.291667 0 5.291667 1000 A-6 00755WCC8 1000 5.608333 0 5.608333 1000 A-7 00755WCD6 1000 5.891667 0 5.891667 1000 A-8-I 00755WCE4 770.686299 3.857445 25.546194 29.403639 745.140104 RS AM9106109 0 2.733426 0 2.733426 0
Delinquency Advances made: 1,984,692.68 Accrued Servicing Fee for the Current Pe 105,870.44 Plus additional Servicing Fees: - Less permitted reductions to Servicing F - Total Servicing Fees due Master Servicer: 105,870.44 Actual collected Servicing Fees for current period: 7,770.36
Delinquent and Foreclosure Loan Information:
90+ Days Loans Loans 30-59 60-89 excldg f/c,REO in in Days Days & Bkrptcy REO Foreclosure Group 1 Principal Balanc 5,793,797. 2,114,030. 1,901,437.7 206,782 2,606,202.0 % of Pool Balanc 2.9803% 1.0874% 0.9781% 0.1064% 1.3406% Number of Loans 100 34 33 2 42 % of Loans 3.2185% 1.0943% 1.0621% 0.0644% 1.3518% Group 2 Principal Balanc 1,651,694. 510,729 472,570. 448,952 2,355,616.0 % of Pool Balanc 3.0838% 0.9536% 0.8823% 0.8382% 4.3981% Number of Loans 12 7 4 3 18 % of Loans 2.9777% 1.7370% 0.9926% 0.7444% 4.4665%
Loans in Bankruptcy: Group 1 1,646,944.60 Group 2 525,071.45 Total 2,172,016.05 Book Value of REO Property: 711,588.00 Scheduled Prin Bal of Loans as of the Prior Dist Date: Group 1 198,741,016.40 Group 2 55,348,040.90 Total 254,089,057.30 Scheduled Prin Bal of Loans as of the Current Dist Date:Group 1 194,405,814.21 Group 2 53,559,807.30 Total 247,965,621.51 Substitution Amount: - Master Servicing Fee: - Insured Payments: - Certificate Insurer Premium Payment: Group 1 17,690.84 Group 2 4,945.24 Total 22,636.08 Number of Loans as of the Current Distribution Date: Group 1 3168 Group 2 417 Total 3585 Number of Loans as of the Next Distribution Date: Group 1 3107 Group 2 403 Total 3510 Weighted Average Coupon as of the Current Distribution DGroup 1 10.914258% Group 2 9.536318% Both Groups 10.614102% Weighted Average Coupon as of the Next Distribution DateGroup 1 10.898647% Group 2 9.523107% Both Groups 10.601535% Weighted Average Net Coupon as of the Current Dist Date:Group 1 10.414258% Group 2 9.036318% Both Groups 10.114102% Curtailments included in Current Distribution: Group 1 - Group 2 - Total - Prepayments in Full/Unscheduled recoveries of Principal included in Current Distribution: Group 1 3,972,446.56 Group 2 1,761,251.43 Total 5,733,697.99
SUBORDINATION TRACKING:
Prior Subordination Current Specified Subordinated Increase Realized Subordinated Subordinated Amount Amount Losses Amount Amount Group 1 5,750,000. 12,00 12,00 5,750,000.0 5,750,000.00 Group 2 1,400,000. 1,400,000.0 1,400,000.00 Total 7,150,000. 12,00 12,00 7,150,000.0 7,150,000.00
REALIZED LOSSES TRACKING:
Recovered Recovered Realized Delinquency Servicing Losses Advances Advances Total Group 1 Prior 17,88 3,7 4 21,991.92 Current 12,00 2,0 1 14,178.20 Cumulative 29,88 5,7 5 36,170.12 Group 2 Prior 32,78 6,6 39,389.70 Current - Cumulative 32,78 6,6 39,389.70
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 164,646.59 Principal Collected: 6,111,435.79 Insurance Proceeds Received: - Net Liquidation Proceeds: - Delinquency Advances on Mortgage Interest: 1,984,692.68 Purchase Proceeds: - Substitution Amounts: - Trust Termination Proceeds: - Investment Earnings on Certificate Account: 6,881.37 Capitalized Interest Requirement: - Pre-Funding Account: N/A Sum of the Above Amounts: 8,267,656.43 LESS: Servicing Fees (including PPIS): 17,244.50 Dealer Reserve: - Trustee Fees: 2,057.83 Insurance Premiums: 22,636.08 Reimbursement of Delinquency Advances: 2,059.20 Reimbursements of Servicing Advances: 119.00 Total Reductions to Available Funds Amount: 44,116.61 Total Available Funds: 8,223,539.8
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