-----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, BPabbK2Vt/x6nnOsFOviL0CwpArhdZJRP3s3hAbBBUaBvsgiHoLGzvo8+sv0Fsu+ ELoLSc6FkTLKcANdgkgUSw== 0000950168-98-000680.txt : 19980309 0000950168-98-000680.hdr.sgml : 19980309 ACCESSION NUMBER: 0000950168-98-000680 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980225 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980306 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: 98559230 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 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 February 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 of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)
1100 Larkspur Landing Circle, Suite 101, 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 February 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: March 5, 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 February 25, 1998..........................5 EX-10 2 EXHIBIT 10.1 THE PAGE NUMBER: 1 BANK OF Payment Date: 2/25/98 NEW Accrual Period: 1/1/98 thru 1/31/98 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 9,604,804.42 6.600000% 4,143,816.52 52,826.42 4,196,642.94 5,460,987.90 2350 A-I-2 58,978,174.32 6.206250% 3,812,205.18 305,027.75 4,117,232.93 55,165,969.14 2351 A-I-3 58,978,174.32 2.793750% - 137,308.56 137,308.56 55,165,969.14 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 23,846,017.92 7.750000% 1,795,963.37 154,005.53 1,949,968.90 22,050,054.55 2363 P/O 497,963.24 N/A 20,003.33 - 20,003.33 477,959.91 2371 X-1 168,884,359.92 0.671726% - 94,536.69 94,536.69 163,501,462.72 2370 X-2 46,281,892.63 0.196581% - 7,581.77 7,581.77 43,933,369.71 2369 X-3 17,100,419.34 0.474717% - 6,764.88 6,764.88 16,448,294.33 2360 B-1 8,479,335.52 7.750000% 6,831.97 54,762.38 61,594.35 8,472,503.55 2361 B-2 5,396,391.52 7.750000% 4,347.98 34,851.70 39,199.68 5,392,043.54 2362 B-3 3,854,423.71 7.750000% 3,105.58 24,893.15 27,998.73 3,851,318.13 2364 B-4 2,004,062.34 7.750000% 1,614.71 12,942.90 14,557.61 2,002,447.63 2365 B-5 770,488.09 7.750000% 620.80 4,976.07 5,596.87 769,867.30 2366 B-6 1,852,400.14 7.750000% 1,492.51 11,963.42 13,455.93 1,850,907.62 2367 R-1 - 7.750000% - 4.67 4.67 - 2368 R-2 0.00 7.750000% 0.00 0.00 - - - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Totals - 270,048,564.22 - 9,790,001.95 1,849,730.97 11,639,732.92 260,258,562.27 - ------------------------------------------------------------------------------------------------------------------------------------ FACTORS PER $1,000 (CLASS R PER $100) CLASS INFORMATION ----------------------------------------------------- PRINCIPAL INTEREST ENDING - -------------------------- CLASS CODE NAME DIST. DIST. CERT. BAL - -------------------------- ----------------------------------------------------- - -------------------------- ----------------------------------------------------- 2347 A-I-1 147.25192855 1.8772047902 194.05806102 2350 A-I-2 50.14014255 4.0118865989 725.572058000 2351 A-I-3 0.00000000 1.8059549394 725.57205800 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 61.97142036 5.3141069636 760.85805773 2363 P/O 38.70545985 0.000000000 924.82891686 2371 X-1 0.00000000 0.4771239405 825.18715406 2370 X-2 0.00000000 0.1472220006 853.09348383 2369 X-3 0.00000000 0.3106121359 755.22992773 2360 B-1 0.79896691 6.4042076950 990.82020281 2361 B-2 0.79896691 6.4042080118 990.82020281 2362 B-3 0.79896691 6.4042063288 990.82020281 2364 B-4 0.79896691 6.4042058387 990.82020281 2365 B-5 0.79896691 6.4042084942 990.82020281 2366 B-6 0.79896691 6.4042084391 990.82020281 2367 R-1 0.00000000 4.6699999993 0.00000000 2368 R-2 0.00000000 0.0000000000 0.00000000 - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- Totals - 31.48112256 5.94806903 836.89786159 - -------------------------------------------------------------------------------
THE BANK OF PAGE NUMBER: 2 NEW Payment Date: 2/25/98 YORK Accrual Period: 1/1/98 thru 1/31/98 101 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 ---------------------------------------------------------------------- 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 ----------------------------------------------------------------------------------------------------------- AI-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 0.00 0.00 0.00 - -----------------------------------------------------------------------------------------------------
THE BANK OF PAGE NUMBER: 3 NEW Payment Date: 2/25/98 YORK Accrual Period: 1/1/98 thru 1/31/98 101 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 260,258,561.39 Ending loan count (excluding REO) 1675 Aggregate scheduled principal amt 219,596.89 Aggregate prepayment amount 9,570,405.06 -------------------------------------------------------------------------------- P&S Ref. ADVANCES -------------------------------------------------------------------------------- Sec. 5.04 Amount of adv/rec (this period) 7,083.51 Aggregate outstanding advances 88,964.06 --------------------------------------------------------------------------------- P&S Ref. FEES --------------------------------------------------------------------------------- Sec. 5.04 Monthly servicer fees 56,260.11 Monthly trustee fee 2,250.40 -------------------------------------------------------------------------------- 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 3 416,319.25 415,837.79 2 months 1 290,173.57 289,600.03 3 months or more 4 1,534,451.73 1,529,320.13 TOTALS 8 2,240,944.55 2,234,757.95 = ============= ============ In foreclosure 2 696,241.27 694,772.90 In bankruptcy 1 560,561.22 559,112.56 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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