-----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, TgTTsuwVGVD4uIs8+u8KNmRigoUzbWM5ZAo6WSE9Qz0SkPQg4nkaZ4oNVz7m5bwk HxHPPIP0D8fZ8z9P6ElkjQ== 0001050923-98-000006.txt : 19980701 0001050923-98-000006.hdr.sgml : 19980701 ACCESSION NUMBER: 0001050923-98-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980531 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980630 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA MORTGAGE LOAN TRUST 1997-4 CENTRAL INDEX KEY: 0001050923 STANDARD INDUSTRIAL CLASSIFICATION: [] FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-37107-01 FILM NUMBER: 98658374 BUSINESS ADDRESS: STREET 1: ADVANTA MORTGAGE CONDIRT SERVICES INC STREET 2: 16875 WEST BERNARDO DRIVE CITY: SAN DIEGO STATE: CA ZIP: 92127 MAIL ADDRESS: STREET 1: C/O ADVANTA MORTGAGE CONDIRT SERVICES IN STREET 2: 16875 WEST BERNARDO DRIVE CITY: NEWSAN DIEGO STATE: CA ZIP: 92127 8-K 1 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 Date of Report: June 25, 1998 ADVANTA Home Equity Loan Trust 1997-4 New York 333-37107 "Pending" c/o ADVANTA Mortgage Corp., USA Attn: William P. Garland 16875 West Bernardo Drive San Diego, Ca 92127 (619) 674-1800 Item 5. Other Events Information relating to the distributions to Certificate holders for the May, 1998 Monthly Period of the Trust in respect of the Home Equity Loan Pass-Through Certificates, Series 1997-4 Class A (the "Certificates") issued by the Registrant and the performance of the Trust (including distributions of principal and interest, delinquent balances of Home Equity Loans, and the Subordinated amount remaining), together with certain other information relating to the certificates, is contained in the Monthly Report for the Monthly Period provided to certificateholders pursuant to the Pooling and Servicing Agreement (the "Agreement") dated as of December 1, 1997 between ADVANTA Mortgage Corp., USA as Servicer, and Bankers Trust Company, as Trustee. Item 7. Financial Statements, Exhibits Exhibit No. Exhibit 1. Monthly Report for the May, 1998 Monthly Period relating to the Home Equity Loan Pass-Through Certificates Series 1997-4, Class A issued by the ADVANTA Home Equity Loan Trust 1997-4. EXHIBIT INDEX Exhibit 1. Monthly Report for the May, 1998 Monthly Period relating to the Home Equity Loan Pass-Through Certificates, Series 1997-4, Class A issued by the ADVANTA Home Equity Loan Trust 1997-4. 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. ADVANTA Home Equity Loan Trust 1997-4 BY: ADVANTA Mortgage Corp., USA BY: /s/ William P. Garland William P. Garland Senior Vice President Loan Service Administration June 30, 1998 EXHIBIT 1 ADVANTA Mortgage Loan Trust 1997-4 Statement to Certificateholders
Original Prior Face Principal Class Value Balance Interest Principal Total A-1 146,039,000. 119,327,988. 575,6 8,361,966 8,937,568.49 A-2 91,159,000 91,159,000 496,0 496,056.89 A-3 33,579,000 33,579,000 183,2 183,285.37 A-4 59,837,000 59,837,000 332,0 332,095.35 A-5 15,601,000 15,601,000 87,3 87,365.60 A-6 41,285,000 41,285,000 244,2 244,269.58 A-7 50,000,000 50,000,000 276,2 276,250.00 A-8 98,000,000 86,654,740 420,1 3,273,881 3,694,044.54 A-9 302,000,000. 283,091,233. 1,389,13 5,456,469 6,845,607.61 A-IO 208,3 208,333.33 B-1 15,000,000 15,000,000 94,2 94,250.00 M-1 17,500,000 17,500,000 102,6 102,666.67 M-2 30,000,000 30,000,000 181,0 181,000.00 R - Totals 900,000,000. 843,034,962. 4,590,47 17,092,317. 21,682,793.43
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A-1 110,966,022. 5.788440% 5.796250% A-2 91,159,000 6.530000% 6.530000% A-3 33,579,000 6.550000% 6.550000% A-4 59,837,000 6.660000% 6.660000% A-5 15,601,000 6.720000% 6.720000% A-6 41,285,000 7.100000% 7.100000% A-7 50,000,000 6.630000% 6.630000% A-8 83,380,858 5.818440% 5.826250% A-9 277,634,764. 5.888440% 5.896250% A-IO 5.000000% 5.000000% B-1 15,000,000 7.540000% 7.540000% M-1 17,500,000 7.040000% 7.040000% M-2 30,000,000 7.240000% 7.240000% R 0.000000% 0.000000% Totals 825,942,645.26
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A-1 00755WEC6 817.096726 3.941429 57.258445 61.199874 759.838281 A-2 00755WED4 1000 5.441667 0 5.441667 1000 A-3 00755WEE2 1000 5.458333 0 5.458333 1000 A-4 00755WEF9 1000 5.55 0 5.55 1000 A-5 00755WEG7 1000 5.6 0 5.6 1000 A-6 00755WEH5 1000 5.916667 0 5.916667 1000 A-7 00755WEJ1 1000 5.525 0 5.525 1000 A-8 00755WEL6 884.232042 4.287376 33.406956 37.694332 850.825086 A-9 00755WEM4 937.388191 4.599795 18.06778 22.667575 919.320411 A-IO 00755WEK8 1000 4.166667 0 4.166667 0 B-1 00755WEQ5 1000 6.283333 0 6.283333 1000 M-1 00755WEN2 1000 5.866667 0 5.866667 1000 M-2 00755WEP7 1000 6.033333 0 6.033333 1000 R AM9704114 0 0 0 0 0
Delinquent 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 11,865,953 4,007,82 1,421,431 7,653,110 % of Pool Balanc 2.51026% 0.84786% 0.30071% 0.00000% 1.61903% Number of Loans 235 66 29 0 110 % of Loans 2.87638% 0.80783% 0.35496% 0.00000% 1.34639% Group 2 Principal Balanc 9,220,03 3,973,25 1,544,322 8,725,545 % of Pool Balanc 2.50095% 1.07775% 0.41890% 0.00000% 2.36682% Number of Loans 112 41 20 0 102 % of Loans 2.63778% 0.96561% 0.47103% 0.00000% 2.40226% Loans in Bankrup Group 1 1,649,065.75 Group 2 1,685,885.86 3,334,951.61
General Mortgage Loan Information:
Group I Group II Total Beginning Aggregate Mortgage Loan Balance 479,785,276. 376,084,811. 855,870,088. Principal Reduction 7,086,832 7,423,26 14,510,098. Ending Aggregate Mortgage Loan Balance 472,698,443. 368,661,546. 841,359,989. Beginning Aggregate Mortgage Loan Count 8294 4328 12622 Ending Aggregate Mortgage Loan Count 8170 4246 12416 Current Weighted Average Coupon Rate 10.627650% 10.570002% 10.602318% Next Weighted Average Coupon Rate 10.619579% 10.567127% 10.596596%
Mortgage Loan Principal Reduction Information:
Group I Group II Total Scheduled Principal 693,28 278,5 971,82 Curtailments Prepayments 6,393,550 7,144,72 13,538,273. Repurchases/Substitutions Liquidation Proceeds Other Principal Less: Realized Losses Less: Delinquent Principal not Advanced by Servicer Total Principal Reduction 7,086,832 7,423,26 14,510,098.
Servicer Information:
Group I Group II Total Accrued Servicing Fee for the Current Period 157,36 123,1 280,46 Less: Amounts to Cover Interest Shortfalls 3,9 1, 4,9 Less: Delinquent Service Fees 42,5 33,6 76,1 Collected Servicing Fees for Current Period: 110,88 88,4 199,32 Advanced Principal 94,2 14,3 108,56 Advanced Interest 924,66 711,7 1,636,396
Other Subordination Prepayment Unscheduled Increase Applied Realized Loss Unpaid Principal Principal Principal Realized Loss Amortization Realized Loss Class Distributed Distributed Distributed Amount Amount Amount A-1 6,393,55 1,275,13 A-2 A-3 A-4 A-5 A-6 A-7 A-8 1,750,54 320,2 A-9 5,394,17 986,8 A-IO B-1 M-1 M-2 R Total 13,538,273 2,582,21
Prior Current Target Has a Senior Overcolla- Extra Overcolla- Overcolla- Trigger Event Enhancement Teralization Principal Teralization Teralization Occurred Percentage Amount Distributed Amount Amount Group I No 14.866015% 6,496,28 1,275,133 7,771,42 12,500,144. Group II N/A N/A 6,338,83 1,307,085 7,645,92 15,000,257. Total 12,835,125 2,582,219 15,417,344 27,500,402.
MISCELLANEOUS INFORMATION:
Class A-IO Notional Balance 50,000,000.00 Group II Insured Payment Included in amounts Distributed to -
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 5,849,297.69 Principal Collected: 14,401,537.49 Insurance Proceeds Received: - Net Liquidation Proceeds: - Delinquency Advances on Mortgage Interest: 1,636,396.39 Delinquency Advances on Mortgage Principal 108,560.72 Substitution Amounts: - Trust Termination Proceeds: - Investment Earnings on Certificate Account: 18,836.27 Capitalized Interest Requirement: - Pre-Funding Account: - Sum of the Above Amounts: 22,014,628.56 LESS: Servicing Fees (including PPIS): 280,467.46 Dealer Reserve: - Trustee Fees: 6,240.72 Insurance Premiums: 45,126.95 Reimbursement of Delinquency Advances: - Reimbursements of Servicing Advances: - Total Reductions to Available Funds Amount: 331,835.13 Total Available Funds: 21,682,793.
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