-----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, Gxx8+uibBmGgGODZQXwHL9oBM82eiU+jSnToogwhu+H9tM6OtvbdC3rC9XFe3dHA ULCmb0um1BvFB/3ESFi0Aw== 0000950168-98-000295.txt : 19980204 0000950168-98-000295.hdr.sgml : 19980204 ACCESSION NUMBER: 0000950168-98-000295 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980125 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980203 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: 98520477 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 1997-1 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 January 25, 1998 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 Number) (I.R.S. Employer Identification No.) of Incorporation)
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 January 25, 1998. 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: February 2, 1998 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 Certificateholders, dated January 25, 1998......................5 EX-10 2 EXHIBIT 10.1 Page Number: 1 Payment Date: 1/26/98 Accrual Period: 12/1/97 thru 12/31/97 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 12,405,999.64 6.600000% 2,801,195.23 68,233.00 2,869,428.23 9,604,804.42 2350 A-I-2 61,555,202.26 6.675000% 2,577,027.94 342,400.81 2,919,428.75 58,978,174.32 2351 A-I-3 61,555,202.26 2.325000% 0.00 119,263.20 119,263.20 58,978,174.32 2352 A-I-4 22,732,000.00 6.800000% 0.00 128,814.67 128,814.67 22,732,000.00 2353 A-I-5 17,570,000.00 6.900000% 0.00 101,027.50 101,027.50 17,570,000.00 2354 A-I-6 18,096,000.00 7.100000% 0.00 107,068.00 107,068.00 18,096,000.00 2355 A-I-7 19,218,000.00 7.250000% 0.00 116,108.75 116,108.75 19,218,000.00 2356 A-I-8 14,006,000.00 7.500000% 0.00 87,537.50 87,537.50 14,006,000.00 2359 A-I-9 5,120,000.00 7.500000% 0.00 32,000.00 32,000.00 5,120,000.00 2357 A-I-10 3,022,000.00 7.750000% 0.00 19,517.08 19,517.08 3,022,000.00 2358 A-I-11 55,000,503.00 7.750000% 0.00 355,211.58 355,211.58 55,000,503.00 2372 A-II 23,904,423.43 7.750000% 58,405.51 154,382.73 212,788.24 23,846,017.92 2363 P/O 499,458.76 N/A 1,495.52 0.00 1,495.52 497,963.24 2371 X-1 172,431,100.61 0.672680% 0.00 96,659.17 96,659.17 168,884,359.92 2370 X-2 47,610,499.99 0.195820% 0.00 7,769.26 7,769.26 46,281,892.63 2369 X-3 17,142,387.58 0.474618% 0.00 6,780.06 6,780.06 17,100,419.34 2360 B-1 8,486,234.24 7.750000% 6,898.72 54,806.93 61,705.65 8,479,335.52 2361 B-2 5,400,781.98 7.750000% 4,390.46 34,880.05 39,270.51 5,396,391.52 2362 B-3 3,857,559.64 7.750000% 3,135.93 24,913.41 28,049.34 3,854,423.71 2364 B-4 2,005,692.83 7.750000% 1,630.49 12,953.43 14,583.92 2,004,062.34 2365 B-5 771,114.96 7.750000% 626.86 4,980.12 5,606.98 770,488.09 2366 B-6 1,853,907.24 7.750000% 1,507.10 11,973.15 13,480.25 1,852,400.14 2367 R-1 0.00 7.750000% 0.00 4.76 4.76 0.00 2368 R-2 0.00 7.750000% 0.00 0.00 0.00 0.00 - --------------------------------------------------------------------------------------------------------------------------- Totals 0.00 275,504,877.97 0.00 5,456,313.75 1,887,285.16 7,343,598.91 270,048,564.22 - ---------------------------------------------------------------------------------------------------------------------------
Factors per $1,000 (Class R per $100) Class Information -------------------------------------------- - -------------------------- Principal Interest Ending Class Code Name Dist. Dist. Cert. Bal - ---------------------------------------------------------------------- 2347 A-I-1 99.54142453 2.4246828471 341.30998958 2350 A-I-2 33.89443700 4.5034368876 775.712200552 2351 A-I-3 0.00000000 1.5686128027 775.71220055 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 2.01533766 5.3271226076 822.82947810 2363 P/O 2.89375766 0.000000000 963.53437671 2371 X-1 0.00000000 0.4878360357 852.35448056 2370 X-2 0.00000000 0.1508626614 898.69685122 2369 X-3 0.00000000 0.3113091316 785.17250501 2360 B-1 0.80677300 6.4094176120 991.61916972 2361 B-2 0.80677300 6.4094174936 991.61916972 2362 B-3 0.80677300 6.4094185747 991.61916972 2364 B-4 0.80677300 6.4094161306 991.61916972 2365 B-5 0.80677300 6.4094208494 991.61916972 2366 B-6 0.80677300 6.4094170624 991.61916972 2367 R-1 0.00000000 4.7600000008 0.00000000 2368 R-2 0.00000000 0.0000000000 0.00000000 - --------------------------------------------------------------------- Totals 0.00 17.54554113 6.06882979 868.37898415 - ---------------------------------------------------------------------
THE BANK OF NEW YORK 101 Barclay Street, 12E Page Number: 2 New York, NY 10286 Payment Date: 1/26/98 Accrual Period: 12/1/97 thru 12/31/97 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 - -------------------------------------------------------------------------------- Type Name Cert. Bal. Pass Thru Cusips - -------------------------------------------------------------------------------- Senior - Fixed Rate A-I-1 28,141,000.00 6.600000% 42209EAA8 Senior - Floating Rate A-I-2 76,031,000.00 5.987500% 42209EAB6 Senior - Inv. Floating Rate A-I-3 76,031,000.00 3.012500% 42209EAC4 Senior - Fixed Rate A-I-4 22,732,000.00 6.800000% 42209EAD2 Senior - Fixed Rate A-I-5 17,570,000.00 6.900000% 42209EAE0 Senior - Fixed Rate A-I-6 18,096,000.00 7.100000% 42209EAF7 Senior - Fixed Rate A-I-7 19,218,000.00 7.250000% 42209EAG5 Senior - Fixed Rate A-I-8 14,006,000.00 7.500000% 42209EAH3 Senior - Fixed Rate A-I-9 5,120,000.00 7.500000% 42209EAJ9 Senior - Fixed Rate A-I-10 3,022,000.00 7.750000% 42209EAK6 Senior - Fixed Rate A-11 55,000,503.00 7.750000% 42209EAL4 Senior - Fixed Rate A-I-II 28,980,510.00 7.750000% 42209EAM2 Senior - Fixed Rate P/O 516,809.00 N/A 42209EAN0 Senior - Variable Rate X-1 198,138,642.75 0.000000% 42209EAP5 Senior - Variable Rate X-2 51,498,892.61 0.000000% 42209EAV2 Senior - Variable Rate X-3 21,779,187.67 0.000000% 42209EAW0 Subordinate - Fixed Rate B-1 8,551,000.00 7.750000% 42209EAQ3 Subordinate - Fixed Rate B-2 5,442,000.00 7.750000% 42209EAR1 Subordinate - Fixed Rate B-3 3,887,000.00 7.750000% 42209EAS9 Subordinate - Fixed Rate B-4 2,021,000.00 7.750000% N/A Subordinate - Fixed Rate B-5 777,000.00 7.750000% N/A Subordinate - Fixed Rate B-6 1,868,056.00 7.750000% N/A Senior - Fixed Rate R-1 100.00 7.750000% N/A Senior - Fixed Rate R-2 00.00 7.750000% N/A - -------------------------------------------------------------------------------- Totals - 310,980,078.00 - - - --------------------------------------------------------------------------------
Unpaid Amounts - ------------------------------------------------------ Interest Current Real Aggregate Real Name Shortfalls Losses Losses - ------------------------------------------------------ A-I-1 0.00 0.00 0.00 A-I-2 0.00 0.00 0.00 A-I-3 0.00 0.00 0.00 A-I-4 0.00 0.00 0.00 A-I-5 0.00 0.00 0.00 A-I-6 0.00 0.00 0.00 A-I-7 0.00 0.00 0.00 A-I-8 0.00 0.00 0.00 A-I-9 0.00 0.00 0.00 A-I-10 0.00 0.00 0.00 A-I-11 0.00 0.00 0.00 A-II 0.00 0.00 0.00 P/O 0.00 0.00 0.00 X-1 0.00 0.00 0.00 X-2 0.00 0.00 0.00 X-3 0.00 0.00 0.00 B-1 0.00 0.00 0.00 B-2 0.00 0.00 0.00 B-3 0.00 0.00 0.00 B-4 0.00 0.00 0.00 B-5 0.00 0.00 0.00 B-6 0.00 0.00 0.00 R-1 0.00 0.00 0.00 R-2 0.00 0.00 0.00 - -------------------------------------------------- Totals - - - - -------------------------------------------------- Page Number: 3 Payment Date: 1/26/98 Accrual Period: 12/1/97 thru 12/31/97 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 270,048,563.37 Ending loan count (excluding REO) 1719 Aggregate scheduled principal amt 221,846.98 Aggregate prepayment amount 5,234,466.77 ----------------------------------------------------- P&S Ref. ADVANCES ----------------------------------------------------- Sec. 5.04 Amount of adv/rec (this period) 4,667.99 Aggregate outstanding advances 81,880.55 ----------------------------------------------------- P&S Ref. FEES ----------------------------------------------------- Sec. 5.04 Monthly servicer fees 57,396.85 Monthly trustee fee 2,295.87 ----------------------------------------------------- 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 ------------------------- Period Loan Count Outstanding Prin Balance Scheduled Prin Balance ------ ---------- ------------------------- ---------------------- 1 month 1 290,173.57 289,792.56 2 months 1 560,561.22 559,478.57 3 months or more 3 973,890.51 970,860.31 Totals 5 1,824,625.30 1,820,131.44 = ============= ============ In foreclosure 2 696,241.27 694,772.90 P&S Ref. ----------------------------------- Sec. 5.04 REO INFORMATION ----------------------------------- Outstanding Prin Balance Book Value Interest Thru Foreclosure Foreclosure Expenses ------------------------ ---------- ------------------------- -------------------- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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