-----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, CkLGrhbr09aC7sd8uepjeXOIQAiDZXvwD1QV+WC8y2OY32qKyvHEgAjwdnDHtY0z 7E2/3oStAXRH+Aup4VVOJw== 0000950168-98-000130.txt : 19980115 0000950168-98-000130.hdr.sgml : 19980115 ACCESSION NUMBER: 0000950168-98-000130 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971225 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980114 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: 98506872 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, INC. 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 December 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 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 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 December 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: January 13, 1998 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 December 25, 1997...............................5 EX-10 2 EXHIBIT 10.1
Page Number: 1 Payment Date: 12/26/97 Accrual Period: 11/1/97 thru 11/30/97 THE BANK OF NEW YORK 101 Barclay Street, 12E New York, NY 10286 Attn: Frank Austin, MBS Unit HEADLANDS MORTGAGE SECURITIES, INC. (212) 815-2297 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 14,696,305.35 6.600000% 2,290,305.71 80,829.68 2,371,135.39 12,405,999.64 2350 A-I-2 63,662,224.91 6.268750% 2,107,022.65 332,568.81 2,439,591.46 61,555,202.26 2351 A-I-3 63,662,224.91 2.731250% 0.00 144,897.88 144,897.88 61,555,202.26 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 24,324,193.98 7.750000% 419,770.55 157,093.75 576,864.30 23,904,423.43 2363 P/O 504,237.48 N/A 4,778.72 0.00 4,778.72 499,458.76 2371 X-1 175,808,241.87 0.673159% 0.00 98,622.38 98,622.38 172,610,499.99 2370 X-2 48,397,435.09 0.196496% 0.00 7,924.91 7,924.91 47,610,499.99 2369 X-3 17,545,793.40 0.475779% 0.00 6,956.60 6,956.60 17,142,387.58 2360 B-1 8,492,947.59 7.750000% 6,713.35 54,850.29 61,563.64 8,486,234.24 2361 B-2 5,405,054.47 7.750000% 4,272.49 34,907.64 39,180.13 5,400,781.98 2362 B-3 3,860,611.31 7.750000% 3,051.67 24,933.11 27,984.78 3,857,559.64 2364 B-4 2,007,279.51 7.750000% 1,586.68 12,963.68 14,550.36 2,005,692.83 2365 B-5 771,724.98 7.750000% 610.02 4,984.06 5,594.08 771,114.96 2366 B-6 1,855,373.84 7.750000% 1,466.60 11,982.62 13,449.22 1,853,907.24 2367 R-1 0.00 7.750000% 0.00 4.78 4.78 0.00 2368 R-2 0.00 7.750000% 0.00 0.00 0.00 0.00 - ------------------------------------------------------------------------------------------------------------------------------------ Totals - 280,344,456.41 - 4,839,578.44 1,920,805.27 6,760,383.71 275,504,877.97 - ------------------------------------------------------------------------------------------------------------------------------------ FACTORS PER $1,000 (CLASS R PER $100) - ------------------------------------------------------------------------------- PRINCIPAL INTEREST ENDING DIST. DIST. CERT. BAL - ------------------------------------------------------------------------------- 81.38679174 2.8723101524 440.85141411 27.71267840 4.3741212137 809.606637554 0.00000000 1.9057736976 809.60663755 0.00000000 5.6666668133 1000.00000000 0.00000000 5.7500000000 1000.00000000 0.00000000 5.9166666667 1000.00000000 0.00000000 6.0416666667 1000.00000000 0.00000000 6.2500000000 1000.00000000 0.00000000 6.2500000000 1000.00000000 0.00000000 6.4583322303 1000.00000000 0.00000000 6.4583332992 1000.00000000 14.48458107 5.4206689254 824.84481576 9.24658820 0.000000000 966.42813437 0.00000000 0.4977442998 871.16020174 0.00000000 0.1538850565 924.49560713 0.00000000 0.3194150354 787.09949332 0.78509589 6.4144883639 992.42594272 0.78509589 6.4144873208 992.42594272 0.78509589 6.4144867507 992.42594272 0.78509589 6.4144878773 992.42594272 0.78509589 6.4144916345 992.42594272 0.78509589 6.4144865036 992.42594272 0.00000000 4.7800000005 0.00000000 0.00000000 0.0000000000 0.00000000 - ----------------------------------------------------------------------------- 15.56234236 6.17661839 885.92452528 - -----------------------------------------------------------------------------
PAGE NUMBER: 2 Payment Date: 12/26/97 Accrual Period: 11/1/97 thru 11/30/97 THE BANK OF NEW YORK 101 Barclay Street, 12E New York, NY 10286 HEADLANDS MORTGAGE SECURITIES INC. Mortgage Pass-Through Certificates, Series 1997-1 Attn: Frank Austin, MBS Unit Headlands Mortgage Company, Servicer (212) 815-2297 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-I-11 55,000,503.00 7.750000% 42209EAL4 Senior - Fixed Rate A-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-2 100.00 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 THE BANK OF NEW YORK Payment Date: 12/26/97 Accrual Period: 11/1/97 thru 11/30/97 101 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 275,504,877.13 Ending loan count (excluding REO) 1746 Aggregate scheduled principal amt 223,112.98 Aggregate prepayment amount 4,616,465.46
----------------------------------------------------- P&S Ref. ADVANCES ----------------------------------------------------- Sec. 5.04 Amount of adv/rec (this period) 33,401.12 Aggregate outstanding advances 77,212.56
----------------------------------------------------- P&S Ref. FEES ----------------------------------------------------- Sec. 5.04 Monthly servicer fees 58,405.10 Monthly trustee fee 2,336.20
----------------------------------------------------- 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) 0.00
P&S Ref. ------------------------------------------------ DELINQUENCY INFORMATION Sec. 5.04 ---------------------------------------------------- Period Loan Count Outstanding Prin Balance Scheduled 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 2 696,241.27 694,772.90
---------------------------------------------------------------- P&S Ref. REO INFORMATION ---------------------------------------------------------------- Sec. 5.04 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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