-----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, JB2sHTMeQuCs1PyMPORuyRPIOUoHUJ/+ouMI2/aZ3TYIwf5UHwgPedvu5R0xytjI XgrSh3aDe8UI5fPl/p0iJQ== 0000916641-97-001153.txt : 19971208 0000916641-97-001153.hdr.sgml : 19971208 ACCESSION NUMBER: 0000916641-97-001153 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971125 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971205 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: HEADLANDS MORTGAGE SEC INC MORTGAGE PASS THR CERT SER 1997-1 CENTRAL INDEX KEY: 0001036499 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-16679-01 FILM NUMBER: 97733430 BUSINESS ADDRESS: STREET 1: 700 LARKSPUR LANDING CIRCLE SUITE 250 CITY: LARKSPUR STATE: CA ZIP: 94939 MAIL ADDRESS: STREET 1: 700 LARKSPUR LANDING CIRCLE STREET 2: STE 250 CITY: LARKSPUR STATE: CA ZIP: 94939 8-K 1 HEADLANDS MORTGAGE SECURITIES 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 25, 1997 Date of Report (Date of Earliest Event Reported) Headlands Mortgage Securities Inc. (as Sponsor under a Pooling and Servicing Agreement dated as of February 1, 1997 providing for the issuance of the Mortgage Pass-Through Certificates, Series 1997-1) HEADLANDS MORTGAGE SECURITIES INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 333-16679-1 68-0397342 (State or Other Jurisdiction (Commission File (I.R.S. Employer of Incorporation) Number) 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 its Mortgage Pass-Through Certificates, Series 1997-1 (the "Certificates"). The following exhibit which relates specifically to the Certificates is included with this Current Report: Item 7(c). Exhibits 10.1 Monthly Payment Date Statement distributed to Certificateholders, dated November 25, 1997. 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: December 4, 1997 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 Certificateholders, dated November 25, 1997......................5 EX-10 2 EXHIBIT 10.1 Page Number: 1 Payment Date: 11/25/97 Accrual Period: 10/1/97 thru 10/31/97 The Bank of New York 101 Barclay Street, 12E New York, NY 10286 Attn: Frank Austin, MBS Unit (212) 815-2297 - ------------------------------------------------------------------------------- Headlands Mortgage Securities Inc. Mortgage Pass-Through Certificates, Series 1997-1 Headlands Mortgage Company, Servicer - -------------------------------------------------------------------------------
Current Payment Information Class Information -------------------------------------------------------------------------------------------------- Beginning Pass Thru Principal Interest Total Ending Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Cert. Bal. - --------------------------------------------------------------------------------------------------------------------------- 2347 A-I-1 17,081,002.01 6.600000% 2,384,696.66 93,945.51 2,478,642.17 14,696,305.35 2350 A-I-2 65,856,084.83 6.206250% 2,193,859.92 340,599.44 2,534,459.36 63,662,224.91 2351 A-I-3 65,856,084.83 2.793750% - 153,321.20 153,321.20 63,662,224.91 2352 A-I-4 22,732,000.00 6.800000% - 128,814.67 128,814.67 22,732,000.00 2353 A-I-5 17,570,000.00 6.900000% - 101,027.50 101,027.50 17,570,000.00 2354 A-I-6 18,096,000.00 7.100000% - 107,068.00 107,068.00 18,096,000.00 2355 A-I-7 19,218,000.00 7.250000% - 116,108.75 116,108.75 19,218,000.00 2356 A-I-8 14,006,000.00 7.500000% - 87,537.50 87,537.50 14,006,000.00 2359 A-I-9 5,120,000.00 7.500000% - 32,000.00 32,000.00 5,120,000.00 2357 A-I-10 3,022,000.00 7.750000% - 19,517.08 19,517.08 3,022,000.00 2358 A-I-11 55,000,503.00 7.750000% - 355,211.58 355,211.58 55,000,503.00 2372 A-II 25,024,470.11 7.750000% 700,276.13 161,616.37 861,892.50 24,324,193.98 2363 P/O 505,098.68 N/A 861.20 - 861.20 504,237.48 2371 X-1 179,416,635.62 0.673348% - 100,674.83 100,674.83 175,808,241.87 2370 X-2 49,353,881.03 0.196564% - 8,084.33 8,084.33 48,397,435.09 2369 X-3 18,228,927.05 0.481427% - 7,313.25 7,313.25 17,545,793.40 2360 B-1 8,499,609.69 7.750000% 6,662.09 54,893.31 61,555.40 8,492,947.59 2361 B-2 5,409,294.34 7.750000% 4,239.87 34,935.03 39,174.90 5,405,054.47 2362 B-3 3,863,639.67 7.750000% 3,028.37 24,952.67 27,981.04 3,860,611.31 2364 B-4 2,008,854.07 7.750000% 1,574.56 12,973.85 14,548.41 2,007,279.51 2365 B-5 772,330.34 7.750000% 605.36 4,987.97 5,593.33 771,724.98 2366 B-6 1,856,829.24 7.750000% 1,455.40 11,992.02 13,447.42 1,855,373.84 2367 R-1 - 7.750000% - 4.87 4.87 - 2368 R-2 0.00 7.750000% 0.00 0.00 - - - --------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- Totals - 285,641,715.98 - 5,297,259.57 1,957,579.73 7,254,839.30 280,344,456.41 - ---------------------------------------------------------------------------------------------------------------------------
Factors per $1,000 (Class R per $100) Class Information ------------------------------------------------- Principal Interest Ending Class Code Name Dist. Dist. Cert. Bal - -------------------------------------------------------------------- - -------------------------------------------------------------------- 2347 A-I-1 84.74100651 3.3383856295 522.23820584 2350 A-I-2 28.85480814 4.4797443148 837.319315951 2351 A-I-3 0.00000000 2.0165616656 837.31931595 2352 A-I-4 0.00000000 5.6666668133 1000.00000000 2353 A-I-5 0.00000000 5.7500000000 1000.00000000 2354 A-I-6 0.00000000 5.9166666667 1000.00000000 2355 A-I-7 0.00000000 6.0416666667 1000.00000000 2356 A-I-8 0.00000000 6.2500000000 1000.00000000 2359 A-I-9 0.00000000 6.2500000000 1000.00000000 2357 A-I-10 0.00000000 6.4583322303 1000.00000000 2358 A-I-11 0.00000000 6.4583332992 1000.00000000 2372 A-II 24.16369239 5.5767262205 839.32939683 2363 P/O 1.66637965 0.000000000 975.67472257 2371 X-1 0.00000000 0.5081029556 887.29911253 2370 X-2 0.00000000 0.1569806571 939.77622891 2369 X-3 0.00000000 0.3357907609 805.62203081 2360 B-1 0.77910121 6.4195193545 993.21103861 2361 B-2 0.77910121 6.4195203969 993.21103861 2362 B-3 0.77910121 6.4195189092 993.21103861 2364 B-4 0.77910121 6.4195200396 993.21103861 2365 B-5 0.77910121 6.4195238095 993.21103861 2366 B-6 0.77910121 6.4195184727 993.21103861 2367 R-1 0.00000000 4.8700000001 0.00000000 2368 R-2 0.00000000 0.0000000000 0.00000000 - ------------------------------------------------------------------- Totals - 17.03408014 6.29487182 901.48686764 - ------------------------------------------------------------------- Page Number: 2 Payment Date: 11/25/97 Accrual Period: 10/1/97 thru 10/31/97 The Bank of New York 101 Barclay Street, 12E New York, NY 10286 Attn: Frank Austin, MBS Unit (212) 815-2297 - -------------------------------------------------------------------------------- Headlands Mortgage Securities Inc. Mortgage Pass-Through Certificates, Series 1997-1 Headlands Mortgage Company, Servicer - --------------------------------------------------------------------------------
Class Information Original Certificate Information Unpaid Amounts - ---------------------------------------------------------------------------------- ------------------------------------------------ Interest Current Real Aggregate Real Type Name Cert. Bal. Pass Thru Cusips Name Shortfalls Losses Losses - ---------------------------------------------------------------------------------- ------------------------------------------------ Senior - Fixed Rate A-I-1 28,141,000.00 6.600000% 42209EAA8 A-I-1 - - - Senior - Floating Rate A-I-2 76,031,000.00 5.987500% 42209EAB6 A-I-2 - - - Senior - Inv. Floating Rate A-I-3 76,031,000.00 3.012500% 42209EAC4 A-I-3 - - - Senior - Fixed Rate A-I-4 22,732,000.00 6.800000% 42209EAD2 A-I-4 - - - Senior - Fixed Rate A-I-5 17,570,000.00 6.900000% 42209EAE0 A-I-5 - - - Senior - Fixed Rate A-I-6 18,096,000.00 7.100000% 42209EAF7 A-I-6 - - - Senior - Fixed Rate A-I-7 19,218,000.00 7.250000% 42209EAG5 A-I-7 - - - Senior - Fixed Rate A-I-8 14,006,000.00 7.500000% 42209EAH3 A-I-8 - - - Senior - Fixed Rate A-I-9 5,120,000.00 7.500000% 42209EAJ9 A-I-9 - - - Senior - Fixed Rate A-I-10 3,022,000.00 7.750000% 42209EAK6 A-I-10 - - - Senior - Fixed Rate A-I-11 55,000,503.00 7.750000% 42209EAL4 A-I-11 - - - Senior - Fixed Rate A-II 28,980,510.00 7.750000% 42209EAM2 A-II - - - Senior - Fixed Rate P/O 516,809.00 N/A 42209EAN0 P/O - - - Senior - Variable Rate X-1 198,138,642.75 0.000000% 42209EAP5 X-1 - - - Senior - Variable Rate X-2 51,498,892.61 0.000000% 42209EAV2 X-2 - - - Senior - Variable Rate X-3 21,779,187.67 0.000000% 42209EAW0 X-3 - - - Subordinate - Fixed Rate B-1 8,551,000.00 7.750000% 42209EAQ3 B-1 - - - Subordinate - Fixed Rate B-2 5,442,000.00 7.750000% 42209EAR1 B-2 - - - Subordinate - Fixed Rate B-3 3,887,000.00 7.750000% 42209EAS9 B-3 - - - Subordinate - Fixed Rate B-4 2,021,000.00 7.750000% N/A B-4 - - - Subordinate - Fixed Rate B-5 777,000.00 7.750000% N/A B-5 - - - Subordinate - Fixed Rate B-6 1,868,056.00 7.750000% N/A B-6 - - - Senior - Fixed Rate R-1 100.00 7.750000% N/A R-1 - - - Senior - Fixed Rate R-2 100.00 7.750000% N/A R-2 - - - - ----------------------------------------------------------------------------- ------------------------------------------- - ----------------------------------------------------------------------------- ------------------------------------------- Totals 310,980,078.00 - - Totals - - - - ----------------------------------------------------------------------------- -------------------------------------------
Page Number: 3 Payment Date: 11/25/97 Accrual Period: 10/1/97 thru 10/31/97 The Bank of New York 101 Barclay Street, 12E New York, NY 10286 Attn: Frank Austin, MBS Unit (212) 815-2297 - ------------------------------------------------------------------------------- Headlands Mortgage Securities Inc. Mortgage Pass-Through Certificates, Series 1997-1 Headlands Mortgage Company, Servicer - ------------------------------------------------------------------------------- P&S Ref. Sec. 5.04 ---------------------------------- COLLATERAL INFORMATION ---------------------------------- Ending scheduled principal balance 280,344,455.58 Ending loan count (excluding REO) 1770 Aggregate scheduled principal amt 223,985.15 Aggregate prepayment amount 5,073,274.42 ---------------------------------------------------- P&S Ref. ADVANCES Sec. 5.04 ---------------------------------------------------- Amount of adv/rec (this period) (1,732.77) Aggregate outstanding advances 43,811.44 ---------------------------------------------------- P&S Ref. FEES Sec. 5.04 ---------------------------------------------------- Monthly servicer fees 59,508.68 Monthly trustee fee 2,380.35 ---------------------------------------------------- P&S Ref. OTHER INFORMATION Sec. 5.04 ---------------------------------------------------- Class P/O deferred amount 0.00 Compensating interest amount 0.00 P&S Ref. Sec. 5.04 -------------------------------------------------------- LIQUIDATED LOAN INFORMATION -------------------------------------------------------- Net liquidation proceeds 0.00 Realized losses (this period) 0.00 Cumulative losses (since Cut-Off) - P&S Ref. Sec. 5.04 ---------------------------------------------------- DELINQUENCY INFORMATION ---------------------------------------------------- Outstanding Scheduled Period Loan Count Prin Balance Prin Balance 1 month 1 519,574.58 518,874.75 2 months 1 176,208.26 175,898.15 3 months or more 1 279,845.96 279,117.61 Totals 3 975,628.80 973,890.51 In foreclosure 1 176,208.26 175,898.15 P&S Ref. Sec. 5.04 ----------------------------------------------------- REO INFORMATION ----------------------------------------------------- Outstanding Interest Thru Foreclosure Prin Balance Book Value Foreclosure Expenses - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -----END PRIVACY-ENHANCED MESSAGE-----