-----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, TS7Ir0K3OIRutlbrquJVUK8FoKBslkf5A3YytHNcwHnGj480D8HmCAHmadlfDiKO y9BOcrvaLLeAPHiE16tseQ== 0001020242-98-000097.txt : 19980514 0001020242-98-000097.hdr.sgml : 19980514 ACCESSION NUMBER: 0001020242-98-000097 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980325 ITEM INFORMATION: FILED AS OF DATE: 19980513 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMRESCO RESIDENTIAL SECURITIES CORP MORT LOAN TRUST 1998-1 CENTRAL INDEX KEY: 0001052442 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-30759-02 FILM NUMBER: 98618808 BUSINESS ADDRESS: STREET 1: 700 N PEARL ST STREET 2: STE 2400 LB 342 CITY: DALLAS STATE: TX ZIP: 75201-7424 BUSINESS PHONE: 2149537700 MAIL ADDRESS: STREET 1: 700 N PEARL ST STREET 2: STE 2400 LB 342 CITY: DALLAS STATE: TX ZIP: 75201-7424 8-K 1 May 13, 1998 Securities and Exchange Commission Judiciary Plaza 450 Fifth Street, N.W. Washington, D.C. 20549 Re: AMRESCO Residential Securities Corporation Mortgage Trust 1998-1; File No. 333-30759. Ladies and Gentlemen: Enclosed herewith for filing on behalf of the trust fund (the "Trust") created pursuant to a Pooling and Servicing Agreement dated as of February 1, 1998 (the "Pooling and Servicing Agreement") relating to AMRESCO Residential Securities Corporation Loan Trust 1998-1, by and among AMRESCO Residential Securities Corporation, in its capacity as Depositor (the "Depositor"), AMRESCO Residential Capital Markets, Inc., in its capacity as the Seller (the "Seller"), Advanta Mortgage Corp. USA, Ameriquest Mortgage Company and Wendover Financial Services Corporation as the Servicers (collectively, the "Servicers") and Bankers Trust Company, in its capacity as Trustee (the "Trustee). The AMRESCO Residential Securities Corporation Loan Mortgage Pass-Through Certificates, Series 1998-1 (the Certificates") will consist of (i) the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates and Class A-7 Certificates (collectively, the "Class A Certificates"); (ii) the Class M-1F Certificates and the Class M-1A Certificates (collectively, the "Class M-1 Certificates"); (iii) the Class M-2F Certificates and the Class M-2A Certificates (collectively, the "Class M-2 Certificates", and, collectively with the Class M-1 Certificates, the "Mezzanine Certificates"); (iv) the Class B-1F Certificates and the Class B-1A Certificates (collectively, the Class B-1 Certificates"), (v) the Class C-FIO and Class C-AIO Certificates (collectively, the "Class C-IO Certificates" and, collectively with the Mezzanine Certificates and the Class B-1 Certificates, the "Subordinate Certificates"); (vi) the Class S Certificates; (vii) the Class D Certificates and (viii) the residual class with respect to each REMIC held by the Trust (the "Class R Certificates," and together with the Class C-IO Certificates, the Class D Certificates and the Class S Certificates, the "Private Certificates"). Only the Class A Certificates, the Mezzanine Certificates and the Class B01 Certificates (collectively, the "Offered Certificates") are offered hereby. The Offered Certificates were registered under the Securities Act of 1933, as amended, by a Registration Statement on Form S-11 (File No. 333-30759). As a result, the Trust is subject to the filing requirements of Section 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Trust intends to fulfill these filing requirements in the manner described herein: The Trust will file, promptly after each Distribution Date (as defined in the Pooling and Servicing Agreement), a Current Report on Form 8-K in substantially the form enclosed herewith, including as an exhibit thereto the applicable Distribution Date report. Each such Current Report will also disclose under Item 5 any matter occurring during the relevant reporting period which would be reportable under Item 1, 2, 4 or 5 of Part II of Form 10-Q. The Trust will file a Current Report on Form 8-K promptly after the occurrence of any event described under Item 2, 3, 4 or 5 thereof, responding to the requirements of the applicable Item. Within 90 days after the end of each fiscal year, the Trust will file an annual report of Form 10-K which responds to Items 2, 3, and 4 of Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and Item 14 of Part IV thereof, and include as exhibits thereto certain information from the Distribution Date reports aggregated for such year and a copy of the independent accountants' annual compliance statement required under the Pooling and Servicing Agreement. The Trust will follow the above procedures except for any fiscal year as to which its reporting obligations under Section 15(d) of the Exchange Act have been suspended pursuant to such Section. In such event, the Trust will file a Form 15 as required under Rule 15d-6. Should you wish to discuss the above filing procedures, please call Judy L. Gomez at (714) 253-7562. Sincerely, /s/ Judy L. Gomez Assistant Vice President Bankers Trust Company of California, N.A. S.E.C. Reporting Agent for AMRESCO Residential Securities Corporation Mortgage Loan Trust 1998-1. 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 (Date of earliest event reported): March 25, 1998 AMRESCO RESIDENTIAL SECURITIES CORPORATION AMRESCO Residential Securities Corporation, in its capacity as Depositor (the "Depositor"), AMRESCO Residential Capital Markets, Inc., in its capacity as the Seller (the "Seller"), Advanta Mortgage Corp. USA, Ameriquest Mortgage Company and Wendover Financial Services Corporation as the Servicers (collectively, the "Servicers") and Bankers Trust Company, in its capacity as Trustee (the "Trustee). under the Pooling and Servicing Agreement, dated as of February 1, 1998, providing for the issuance of the Mortgage Loan Pass-Through Certificates, Series 1998-1 AMRESCO Residential Securities Corporation Mortgage Loan Trust 1998-1 (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-30759 75-2620414 (Commission File Number) (I.R.S. Employer Identification No.) 700 NORTH PEARL STREET SUITE 1400, LB # 342 DALLAS, TEXAS 75201-7424 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (214) 953-7700 Item 5. Other Events Attached hereto is a copy of the Monthly Remittance Statements to the Certificateholders which was derived from the monthly information submitted by the Master Servicer of the Trust to the Trustee. Item 7. Financial Statement and Exhibits Exhibits: (as noted in Item 5 above) Monthly Report to Certificateholders as to distributions made on March 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, hereunto duly authorized. Bankers Trust Company, not in its individual capacity, but solely as a duly authorized agent of the Registrant pursuant to the Pooling and Servicing Agreement, dated as of February 1, 1998. Date: May 13, 1998 By: /s/ Judy L. Gomez Judy L. Gomez Assistant Vice President EXHIBIT INDEX Sequential Document Page Number Monthly Remittance Statement to the Certificateholders 5 dated as of March 25, 1998. AMRESCO RESIDENTIAL SECURITIES CORP. MORTGAGE LOAN TRUST SERIES 1998-1 REMIC LT STATEMENT TO CERTIFICATE HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL LT A1 156,000,000.00 156,000,000.00 1,165,279.06 2,225,164.64 LT A2 25,000,000.00 25,000,000.00 185,786.48 0.00 LT-A3 78,500,000.00 78,500,000.00 583,369.56 0.00 LT-A4 22,500,000.00 22,500,000.00 167,207.83 0.00 LT-A5 32,000,000.00 32,000,000.00 237,806.70 0.00 LT-A6 30,000,000.00 30,000,000.00 222,943.78 0.00 LT-A7 486,000,000.00 486,000,000.00 3,521,859.77 3,521,859.21 LT-M1F 22,000,000.00 22,000,000.00 164,334.23 0.00 LT-M1A 48,000,000.00 48,000,000.00 347,838.01 0.00 LT-M2F 18,000,000.00 18,000,000.00 134,455.28 0.00 LT-M2A 36,000,000.00 36,000,000.00 260,878.50 0.00 LT-B1F 16,000,000.00 16,000,000.00 119,515.80 0.00 LT-B1A 30,000,000.00 30,000,000.00 217,398.75 0.00 LT-R .00 .00 .00 0.00 Totals 1,000,000,000.00 1,000,000,000.00 7,328,673.75 10,495,493.85 TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE LT-A1 3,390,443.70 0.00 0.00 153,774,835.36 LT-A2 185,786.48 0.00 0.00 25,000,000.00 LT-A3 583,369.56 0.00 0.00 78,500,000.00 LT-A4 167,207.83 0.00 0.00 22,500,000.00 LT-A5 237,806.70 0.00 0.00 32,000,000.00 LT-A6 222,943.78 0.00 0.00 30,000,000.00 LT-A7 11,792,188.98 0.00 0.00 477,729,670.79 LT-M1F 164,334.23 0.00 0.00 22,000,000.00 LT-M1A 347,838.01 0.00 0.00 48,000,000.00 LT-M2F 134,455.28 0.00 0.00 18,000,000.00 LT-M2A 260,878.50 0.00 0.00 36,000,000.00 LT-B1F 119,515.80 0.00 0.00 16,000,000.00 LT-B1A 217,398.75 0.00 0.00 30,000,000.00 LT-R 0.00 0.00 0.00 0.00 Totals 17,824,167.60 0.00 0.00 989,504,506.15 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL LT-A1 1,000.000000 7.469738 14.263876 21.733613 LT-A2 1,000.000000 7.431459 0.000000 7.431459 LT-A3 1,000.000000 7.431459 0.000000 7.431459 LT-A4 1,000.000000 7.431459 0.000000 7.431459 LT-A5 1,000.000000 7.431459 0.000000 7.431459 LT-A6 1,000.000000 7.431459 0.000000 7.431459 LT-A7 1,000.000000 7.246625 17.017138 24.263763 LT-M1F 1,000.000000 7.469738 0.000000 7.469738 LT-M1A 1,000.000000 7.246625 0.000000 7.246625 LT-M2F 1,000.000000 7.469738 0.000000 7.469738 LT-M2A 1,000.000000 7.246625 0.000000 7.246625 LT-B1F 1,000.000000 7.469738 0.000000 7.469738 LT-B1A 1,000.000000 7.246625 0.000000 7.246625 LT-R 0.000000 0.000000 0.000000 0.000000 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT LT-A1 985.736124 10.051509% 10.044680% LT-A2 1,000.000000 10.051509% 10.044680% LT-A3 1,000.000000 10.051509% 10.044680% LT-A4 1,000.000000 10.051509% 10.044680% LT-A5 1,000.000000 10.051509% 10.044680% LT-A6 1,000.000000 10.051509% 10.044680% LT-A7 982.982862 9.751281% 9.746758% LT-M1F 1,000.000000 10.051509% 10.044680% LT-M1A 1,000.000000 9.751281% 9.746758% LT-M2F 1,000.000000 10.051509% 10.044680% LT-M2A 1,000.000000 9.751281% 9.746758% LT-B1F 1,000.000000 10.051509% 10.044680% LT-B1A 1,000.000000 9.751281% 9.746758% LT-R 0.000000 0.000000% 0.000000% Seller: Amresco Residential Securities Corp. Administrator: Tito Escobedo Servicer: Advanta/Ameriquest/Wendover,Inc. Bankers Trust Company Lead Underwriter: Credit Suisse First Boston 3 Park Plaza Record Date: February 28, 1998 Irvine, CA 92614 Distribution Date: March 25,1998 Factor Information (800)735-7777 AMRESCO RESIDENTIAL SECURITIES CORP. MORTGAGE LOAN TRUST SERIES 1998-1 REMIC UT STATEMENT TO CERTIFICATE HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL LT A1 156,000,000.00 156,000,000.00 846,300.00 2,225,344.45 LT A2 25,000,000.00 25,000,000.00 131,250.00 0.00 LT-A3 78,500,000.00 78,500,000.00 418,666.67 0.00 LT-A4 22,500,000.00 22,500,000.00 122,812.50 0.00 LT-A5 32,000,000.00 32,000,000.00 188,533.33 0.00 LT-A6 30,000,000.00 30,000,000.00 162,750.00 0.00 LT-A7 486,000,000.00 486,000,000.00 3,224,137.50 8,270,979.15 M-1F 22,000,000.00 22,000,000.00 128,333.33 0.00 M-1A 48,000,000.00 48,000,000.00 331,006.67 0.00 M-2F 18,000,000.00 18,000,000.00 108,600.00 0.00 M-2A 36,000,000.00 36,000,000.00 257,275.00 0.00 B-1F 16,000,000.00 16,000,000.00 101,466.67 0.00 B-1A 30,000,000.00 30,000,000.00 233,187.50 0.00 C-FIO* 40,000,000.00 40,000,000.00 500,000.00 0.00 C-AIO* 66,000,000.00 66,000,000.00 512,636.66 0.00 D 0.00 0.00 0.00 0.00 S 0.00 0.00 60,888.17 0.00 R 0.00 0.00 0.00 0.00 Totals 1,000,000,000.00 1,000,000,000.00 7,327,844.00 10,496,323.60 *REPRESENTS A NOTIONAL BALANCE TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE A-1 3,071,644.45 0.00 0.00 153,774,655.36 A-2 131,250.00 0.00 0.00 25,000,000.00 A-3 418,666.67 0.00 0.00 78,500,000.00 A-4 122,812.50 0.00 0.00 22,500,000.00 A-5 188,533.33 0.00 0.00 32,000,000.00 A-6 162,750.00 0.00 0.00 30,000,000.00 A-7 11,495,116.65 0.00 0.00 477,729,670.79 M-1F 128,333.33 0.00 0.00 22,000,000.00 M-1A 331,006.67 0.00 0.00 48,000,000.00 M-2F 108,600.00 0.00 0.00 18,000,000.00 M-2A 257,275.00 0.00 0.00 36,000,000.00 B-1F 101,466.67 0.00 0.00 16,000,000.00 B-1A 233,187.50 0.00 0.00 30,000,000.00 C-FIO* 500,000.00 0.00 0.00 40,000,000.00 C-AIO* 512,636.66 0.00 0.00 66,000,000.00 D 0.00 0.00 0.00 0.00 S 60,888.17 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 Totals 17,824,167.60 0.00 0.00 989,503,676.40 *REPRESENTS A NOTIONAL BALANCE FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL A1 03215PDH9 1,000.000000 5.425000 14.263876 19.733613 A2 03215PDJ5 1,000.000000 5.250000 0.000000 5.431459 A3 03215PDK2 1,000.000000 5.333333 0.000000 5.431459 A4 03215PDL0 1,000.000000 5.458333 0.000000 5.431459 A5 03215PDM8 1,000.000000 5.891667 0.000000 5.431459 A6 03215PDN6 1,000.000000 5.425000 0.000000 5.431459 A7 03215PDS5 1,000.000000 6.634028 17.017138 23.263763 M1F 03215PDP1 1,000.000000 5.833333 0.000000 5.469738 M1A 03215PDT3 1,000.000000 6.895972 0.000000 6.246625 M2F 03215PDQ9 1,000.000000 6.033333 0.000000 6.469738 M2A 03215PDU0 1,000.000000 7.146528 0.000000 7.246625 B1F 03215PDR7 1,000.000000 6.341667 0.000000 6.469738 B1A 03215PDV8 1,000.000000 7.772917 0.000000 7.246625 C-FIO* AO9801114 1,000.000000 12.500000 0.000000 12.000000 C-AIO* AO9801115 1,000.000000 7.767222 0.000000 7.767222 D AO9801116 0.000000 0.000000 0.000000 0.000000 S AO9801117 0.000000 0.060888 0.000000 0.060888 R AO9801118 0.000000 0.000000 0.000000 0.000000 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT A1 985.734971 6.510000% 6.510000% A2 1,000.000000 6.300000% 6.300000% A3 1,000.000000 6.400000% 6.400000% A4 1,000.000000 6.550000% 6.550000% A5 1,000.000000 7.070000% 7.070000% A6 1,000.000000 6.510000% 6.510000% A7 982.981524 5.825000% 5.887500% M1F 1,000.000000 7.000000% 7.000000% M1A 1,000.000000 6.055000% 6.117500% M2F 1,000.000000 7.240000% 7.240000% M2A 1,000.000000 6.275000% 6.337500% B1F 1,000.000000 7.610000% 7.610000% B1A 1,000.000000 6.825000% 6.887500% C-FIO* 1,000.000000 15.000000% 15.000000% C-AIO* 1,000.000000 6.820000% 6.820000% D 0.000000 0.000000% 0.000000% S 0.000000 0.000000% 0.000000% R 0.000000 0.000000% 0.000000% Seller: Amresco Residential Securities Corp. Administrator: Tito Escobedo Servicer: Advanta/Ameriquest/Wendover,Inc. Bankers Trust Company Lead Underwriter: Credit Suisse First Boston 3 Park Plaza Record Date: February 28, 1998 Irvine, CA 92614 Distribution Date: March 25,1998 Factor Information (800)735-7777 AMRESCO RESIDENTIAL SECURITIES CORPORATION MORTGAGE LOAN TRUST SERIES 1998-1 STATEMENT TO CERTIFICATE HOLDERS DISTRIBUTION DATE: MARCH 25, 1998 GROUP I GROUP II TOTALS SERVICER ADVANCES: INTEREST 350,305.64 619,828.19 970,133.83 PRINCIPAL 24,478.73 32,779.79 55,258.52 ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 102,023.04 159,632.09 261,655.13 PLUS ADDITIONAL SERVICING COMPENSATION: 0.00 0.00 0.00 TOTAL SERVICING FEES DUE MASTER SERVICER: 102,023.04 159,632.09 261,655.13 LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 2,119.56 8,037.75 10,157.31 LESS: DELINQUENT SERVICE FEES: 12,798.25 24,748.11 37,546.36 COLLECTED SERVICING FEES FOR CURRENT PERIOD: 87,105.23 126,846.23 213,951.46 BEGINNING NUMBER OF LOANS: 4,225 4,455 8,680 ENDING NUMBER OF LOANS: 4,186 4,384 8,570 BEGINNING LOAN BALANCE: 302,426,527.47 473,668,841.72 776,095,369.19 ENDING LOAN BALANCE 300,201,362.83 465,398,512.51 765,599,875.34 BEGINNING PRE-FUNDING BALANCE: 97,573,472.53 126,331,158.28 223,904,630.81 ENDING LOAN PRE-FUNDING BALANCE: 97,573,472.53 126,331,158.28 223,904,630.81 WEIGHTED AVERAGE COUPON RATE: 10.5515% 10.2513% 10.3683% EXTRA PRINCIPAL DISTRIBUTION AMOUNT: 179.81 649.94 829.75 OVERCOLLATERIZED AMOUNT: 179.81 649.94 829.75 TARGETED OVERCOLLATERALIZED AMOUNT: 7,000,000.00 14,000,000.00 21,400,000.00 SUSTITUTION AMOUNT: 0.00 0.00 0.00 LOAN PURCHASE PRICE AMOUNTS 0.00 0.00 0.00 SENIOR ENHANCEMENT PERCENTAGE: 14.0784% 19.2657% IS TRIGGER EVENT OCCURING: NO NO AGGREGATE AMOUNT ON DEPOSIT IN CERTIFICATE ACCOUNT: 17,824,167.60 CLASS D DISTRIBUTION AMOUNT: 0.00 CURRENT PERIODS ONE-MONTH LIBOR: 5.6250% NEXT PERIODS ONE-MONTH LIBOR: 5.6875% AMRESCO RESIDENTIAL SECURITIES CORPORATION MORTGAGE LOAN TRUST SERIES 1998-1 STATEMENT TO CERTIFICATEHOLDERS DISTRIBUTION DATE: MARCH 25, 1998 DELINQUENT AND FORECLOSURE LOAN 30 TO 59 60 TO 89 90 90+ INFORMATION* DAYS DAYS DAYS DAYS GROUP I (FIXED RATE) PRINCIPAL BALANCE 5,737,383.31 3,881,292.42 1,909,412.42 107,410.37 % OF TOTAL GROUP I LOAN BALANCE: 1.90% 1.28% 0.63% 0.00% NUMBER OF LOANS 87 55 36 2 % OF TOTAL GROUP I LOANS 2.06% 1.30% 0.85% 0.00% GROUP II (ADJUSTABLE RATE) PRINCIPAL BALANCE: 10,604,212.56 8,504,993.01 5,651,560.97 0.00 NUMBER OF LOANS 108 79 53 0 % OF TOTAL GROUP 2 LOANS 2.42% 1.77% 1.19% 0.00% TOTAL PRINCIPAL BALANCE: 16,341,595.87 12,386,285.83 7,560,973.39 107,410.37 % OF TOTAL LOAN BALANCE 2.11% 1.60% 0.97% 0.01% TOTAL NUMBER OF LOANS 195 134 89 2 % OF TOTAL LOAN BALANCE 2.25% 1.54% 1.03% 0.02 DISTRIBUTION DATE: MARCH 25, 1998 DELINQUENT AND LOANS LOANS FORECLOSURE LOAN IN IN INFORMATION* BANKRUPTCY BANKRUPTCY GROUP I (FIXED RATE) PRINCIPAL BALANCE 690,741.09 1,700,957.25 % OF TOTAL GROUP I LOAN BALANCE: 0.23% 0.56% NUMBER OF LOANS 9 31 % OF TOTAL GROUP I LOANS 0.21% 0.73% GROUP II (ADJUSTABLE RATE) PRINCIPAL BALANCE: 920,714.40 3,054,723.69 % OF TOTAL GROUP II LOAN BALANCE 0.19% 0.64% NUMBER OF LOANS 8 33 % OF TOTAL GROUP 2 LOANS 0.18% 0.74% 30 TO 59 60 TO 89 90 90+ DAYS DAYS DAYS DAYS TOTAL PRINCIPAL BALANCE: 16,341,595.87 12,386,285.83 7,560,973.39 107,410.37 % OF TOTAL LOAN BALANCE: 2.11% 1.60% 0.97% 0.01% TOTAL NUMBER OF LOANS: 195 134 89 2 % OF TOTAL LOAN BALANCE: 2.25% 1.54% 1.03% 0.02% LOANS LOANS IN IN BANKRUPTCY BANKRUPTCY TOTAL PRINCIPAL BALANCE: 1,611,455.49 4,755,680.94 % OF TOTAL LOAN BALANCE: 0.21% 0.61% TOTAL NUMBER OF LOANS: 17 64 % OF TOTAL LOAN BALANCE: 0.20% 0.74% *DELINQUENCIES ARE INCLUSIVE OF FORECLOSURES, BANKRUPTCIES AND REO PROPERTY 90 DAYS 90+ DAYS MORTGAGE LOAN SERVICING GROUP: ADVANTA PRINCIPAL BALANCE: 6,767,871.53 107,410.37 NUMBER OF LOANS 78 2 MORTGAGE LOAN SERVICING GROUP: AMERIQUEST PRINCIPAL BALANCE: 221,631.48 0.00 NUMBER OF LOANS: 3 0 MORTGAGE LOAN SERVICING GROUP: WENDOVER PRINCIPAL BALANCE: 571,470.38 0.00 NUMBER OF LOANS: 8 0 GROUP I 60+ DAY DELINQUENT BALANCE: 5,898,115.61 GROUP II 60+ DAY DELINQUENT BALANCE: 14,156,553.98 REO LOAN INFORMATION: GROUP I GROUP II TOTAL BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH FORECLOSURE: 0.00 0.00 0.00 AGGREGATE PRINCIPAL BALANCE OF REO LOANS: 0.00 0.00 0.00 NUMBER OF REO LOANS: 0 0 0 ADVANTA 90+ DELINQUENT PERCENTAGE: 0.47% AMERIQUEST 90+ DELINQUENT PERCENTAGE: 0.21% WENDOVER 90+ DELINQUENT PERCENTAGE: 0.08% GROUP I GROUP II TOTAL CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN: SCHEDULED PRINCIPAL: 212,886.38 216,920.67 429,807.05 PRINCIPAL REPAYMENTS: 1,896,905.70 7,998,706.86 9,895,612.56 CURTAILMENTS: 62,882.68 54,701.68 117,584.36 REPURCHASES: 52,489.88 0.00 52,489.88 LIQUIDATION PROCEEDS: 0.00 0.00 0.00 EXTRA PRINCIPAL DISTRIBUTION AMOUNT: 179.81 649.94 829.75 PRE-FUNDED AMOUNTS DISTRIBUTED AS PREPAYMENTS: 0.00 0.00 0.00 2,225,344.45 8,270,979.15 10,496,323.60 REALIZED LOSS INFORMATION: GROUP I GROUP II TOTAL CURRENT PERIODS REALIZED LOSS AMOUNT 0.00 0.00 0.00 CUMULATIVE REALIZED LOSSES SINCE INCEPTION 0.00 0.00 0.00 APPLIED REALIZED LOSS AMOUNT 0.00 0.00 0.00 UNPAID REALIZED LOSS AMOUNT 0.00 0.00 0.00 ANNUAL LOSS PERCENTAGE 0.00% 0.00% 0.00% ADVANTA AMERIQUEST WENDOVER CURRENT PERIODS REALIZED LOSS AMOUNT 0.00 0.00 0.00 CUMULATIVE REALIZED LOSSES SINCE INCEPTION 0.00 0.00 0.00 ANNUAL LOSS PERCENTAGE 0.00% 0.00% 0.00% INTEREST CARRY-FORWARD AMOUNT CLASS A-1 0.00 CLASS A-2 0.00 CLASS A-3 0.00 CLASS A-4 0.00 CLASS A-5 0.00 CLASS A-6 0.00 CLASS A-7 0.00 CLASS M-1F 0.00 CLASS M-1A 0.00 CLASS M-2F 0.00 CLASS M-2A 0.00 CLASS B-1F 0.00 CLASS B-1A 0.00 CLASS C-FIO 0.00 CLASS C-AIO 0.00 CASH REMITTANCE RECONCILLIATION ADVANTA AMERIQUEST WENDOVER SCHEDULED INTEREST AMOUNT: 4,174,287.99 289,087.16 2,241,663.98 REPURCHASE INTEREST: 0.00 0.00 601.45 LIQUIDATION INTEREST: 0.00 0.00 0.00 TOTAL INTEREST 4,174,287.99 289,087.16 2,242,265.42 LESS: CURRENT SERVICING FEES (124,780.07) (13,382.94) (75,788.45) LESS: CURRENT TRUSTEE FEES 0.00 0.00 0.00 LESS: CURRENT INSURANCE PREMIUM 0.00 0.00 0.00 LESS: DELINQUENT INTEREST (941,117.65) (22,180.70) (44,381.85) LESS: PREPAYMENT INTEREST SHORTFALLS (2,661.78) (332.89) (7,162.64) LESS: NON RECOVERABLE ADVANCES 0.00 0.00 0.00 PLUS: INTEREST ADVANCED 906,328.44 21,113.15 42,692.25 4,012,056.93 274,303.78 2,157,624.72 SCHEDULED PRINCIPAL: 266,279.59 27,326.04 136,201.42 PRINCIPAL PREPAYMENTS: 7,078,720.90 510,892.77 2,305,998.89 CURTAILMENTS: 52,225.94 6.61 65,351.81 LIQUIDATIONS: 0.00 0.00 0.00 REPURCHASES: 0.00 0.00 52,489.88 TOTAL PRINCIPAL: 7,397,226.43 538,225.42 2,560,042.00 LESS: DELINQUENT PRINCIPAL (50,984.58) (1,725.23) (2,548.72) PLUS: PRINCIPAL ADVANCED 50,984.58 1,725.23 2,548.72 7,397,226.43 538,225.42 2,560,042.00 TOTAL REMITTANCE AMOUNTS: 11,409,283.36 812,529.20 4,717,666.72 -----END PRIVACY-ENHANCED MESSAGE-----