-----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, Nf/+2+uWgdxavycsEx7bEBTa2ruJfoDdqALeK3QagZEkqgcUTPIP+LC2WgCnRT8W rL73eZCzJk0XzFgtRrfcRQ== 0001050923-98-000014.txt : 19981204 0001050923-98-000014.hdr.sgml : 19981204 ACCESSION NUMBER: 0001050923-98-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981130 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19981203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA MORTGAGE LOAN TRUST 1998-1 CENTRAL INDEX KEY: 0001058671 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-37107-02 FILM NUMBER: 98763615 BUSINESS ADDRESS: STREET 1: C/O ADVANTA MORTGAGE CONDULT SERVICE INC STREET 2: 16875 WEST BERNADO DRIVE CITY: SAN DIEGO STATE: CA ZIP: 92127 BUSINESS PHONE: 6196741800 MAIL ADDRESS: STREET 1: C/O ADVANTA MORTGAGE CONDUIT SERVICES IN STREET 2: 16875 WEST BERNADO DRIVE CITY: SAN 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: November 25, 1998 ADVANTA Home Equity Loan Trust 1998-1 New York 333-37107-02 "Pending" c/o ADVANTA Mortgage Corp., USA Attn: William P. Garland 10790 Rancho Bernardo Road San Diego, CA 92127 (619) 674-1800 Item 5. Other Events Information relating to the distributions to Certificate holders for the October, 1998 Monthly Period of the Trust in respect of the Home Equity Loan Pass-Through Certificates, Series 1998-1 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 March 1, 1998 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 October, 1998 Monthly Period relating to the Mortgage Loan Asset- Backed Certificates Series 1998-1, Class A issued by the ADVANTA Home Equity Loan Trust 1998-1. EXHIBIT INDEX Exhibit 1. Monthly Report for the October, 1998 Monthly Period relating to the Mortgage Loan Asset-Backed Certificates, Series 1998-1, Class A issued by the ADVANTA Home Equity Loan Trust 1998-1. 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 Mortgage Loan Trust 1998-1 BY: ADVANTA Mortgage Corp., USA BY: /s/ William P. Garland William P. Garland Senior Vice President Loan Service Administration November 30, 1998 EXHIBIT 1 ADVANTA Mortgage Loan Trust 1998-1 Statement to Certificateholders
Original Prior Face Principal Class Value Balance Interest Principal Total A-1 143,000,000. 90,482,063 401,0 10,905,867. 11,306,959.16 A-2 89,000,000 89,000,000 463,5 463,541.67 A-3 64,000,000 64,000,000 334,4 334,400.00 A-4 42,000,000 42,000,000 224,7 224,700.00 A-5 68,000,000 68,000,000 374,0 374,000.00 A-6 50,000,000 50,000,000 267,9 267,916.67 A-IO 50,000,000 208,3 208,333.33 A-7 330,000,000. 276,751,701. 1,252,16 12,461,036. 13,713,199.48 A-8 44,000,000 44,000,000 228,8 228,800.00 M-1 26,000,000 26,000,000 121,7 121,753.67 M-2 23,000,000 23,000,000 111,5 111,538.50 B-1 21,000,000 21,000,000 111,4 111,464.50 RS 1,891,30 1,891,303.96 Totals 950,000,000. 794,233,765. 5,991,00 23,366,903. 29,357,910.94
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A-1 79,576,196 5.319400% 5.142300% A-2 89,000,000 6.250000% 6.250000% A-3 64,000,000 6.270000% 6.270000% A-4 42,000,000 6.420000% 6.420000% A-5 68,000,000 6.600000% 6.600000% A-6 50,000,000 6.430000% 6.430000% A-IO - 5.000000% 5.000000% A-7 264,290,665. 5.429400% 5.252300% A-8 44,000,000 6.240000% 6.240000% M-1 26,000,000 5.619400% 5.442300% M-2 23,000,000 5.819400% 5.642300% B-1 21,000,000 6.369400% 6.192300% RS 0.000000% 0.000000% Totals 770,866,861.80
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A-1 00755WER3 632.741705 2.804839 76.264806 79.069645 556.476899 A-2 00755WES1 1000 5.208333 0 5.208333 1000 A-3 00755WET9 1000 5.225 0 5.225 1000 A-4 00755WEU6 1000 5.35 0 5.35 1000 A-5 00755WEV4 1000 5.5 0 5.5 1000 A-6 00755WEW2 1000 5.358333 0 5.358333 1000 A-IO 00755WFC5 1000 4.166667 0 4.166667 1000 A-7 00755WEX0 838.64152 3.794434 37.760716 41.55515 800.880804 A-8 00755WEY8 1000 5.2 0 5.2 1000 M-1 00755WEZ5 1000 4.682833 0 4.682833 1000 M-2 00755WFA9 1000 4.8495 0 4.8495 1000 B-1 00755WFB7 1000 5.307833 0 5.307833 1000 RS AM9801113 0 1.990846 0 1.990846 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 12,179,040 4,818,36 1,471,766 266,7 6,948,878 % of Pool Balanc 2.74408% 1.08563% 0.33161% 0.06009% 1.56567% Number of Loans 218 76 33 5 139 % of Loans 2.88398% 1.00542% 0.43657% 0.06615% 1.83887% Group 2 Principal Balanc 10,555,267 3,279,80 460,64 618,2 11,818,454. % of Pool Balanc 3.04802% 0.94710% 0.13302% 0.17854% 3.41279% Number of Loans 134 43 9 7 135 % of Loans 3.33915% 1.07152% 0.22427% 0.17443% 3.36407% Loans in Bankrup Group 1 3,747,619.81 Group 2 4,039,815.25 7,787,435.06
General Mortgage Loan Information:
Group I Group II Total Beginning Aggregate Mortgage Loan Balance 454,734,731. 358,032,697. 812,767,428. Principal Reduction 10,889,664. 11,733,840 22,623,504. Ending Aggregate Mortgage Loan Balance 443,828,864. 346,298,856. 790,127,721. Beginning Aggregate Mortgage Loan Count 7756 4153 11909 Ending Aggregate Mortgage Loan Count 7559 4013 11572 Current Weighted Average Coupon Rate 10.510195% 10.474614% 10.494521% Next Weighted Average Coupon Rate 10.497266% 10.467287% 10.484127%
Mortgage Loan Principal Reduction Information:
Group I Group II Total Scheduled Principal 890,18 595,8 1,486,024 Curtailments Prepayments 9,970,964 11,138,003 21,108,967. Repurchases/Substitutions Liquidation Proceeds 44,5 44,5 Other Principal Less: Realized Losses 16,2 16,2 Less: Delinquent Principal not Advanced by Servicer Total Principal Reduction 10,889,664. 11,733,840 22,623,504.
Servicer Information:
Group I Group II Total Accrued Servicing Fee for the Current Period 189,40 149,0 338,49 Less: Amounts to Cover Interest Shortfalls 8,1 1, 9,9 Less: Delinquent Service Fees 40,4 34,5 74,9 Collected Servicing Fees for Current Period: 140,85 112,7 253,60 Advanced Principal 166,09 231,9 397,99 Advanced Interest 871,09 724,2 1,595,304
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 9,852,03 20,8 A-2 A-3 A-4 A-5 A-6 A-IO A-7 11,256,930 23,8 A-8 M-1 M-2 B-1 Total 21,108,967 44,7
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 N/A N/A 7,252,66 7,252,66 7,252,668 Group II NO 24.532002% 11,280,995 727,19 12,008,191 12,008,191. Total 18,533,663 727,19 19,260,859 19,260,859.
Beginning Ending Balance Balance Component I 44,000,000 44,000,000.00 Component II 232,751,701. 220,290,665.20 Group I Group II Total Insured Payment 0.00 N/A 0.00 Pool Rolling six month delinquency rate 1.6593 2.8891 2.2054 Pool Cumulative 12 months loss ratio - average balance N/A N/A N/A Pool Cumulative 12 months loss ratio - current balance 0.00% 0.00% 0.00% 60+ day Delinquent loans (excluding f/c, reo & bankruptcy) 6,290,126.86 3,740,451.08 10,030,577.94 Book Value of REO loans 96,057.00 877,961.00 974,018.00
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 5,437,606.62 Principal Collected: 22,197,127.06 Insurance Proceeds Received: - Net Liquidation Proceeds: 28,383.78 Delinquency Advances on Mortgage Interest: 1,595,304.02 Delinquency Advances on Mortgage Principal 397,994.09 Substitution Amounts: - Trust Termination Proceeds: - Investment Earnings on Certificate Account: 17,768.92 Capitalized Interest Requirement: - Pre-Funding Account: - Sum of the Above Amounts: 29,674,184.49 LESS: Servicing Fees (including PPIS): 263,559.36 Dealer Reserve: - Trustee Fees: 5,418.44 Insurance Premiums: 47,295.75 Reimbursement of Delinquency Advances: - Reimbursements of Servicing Advances: - Total Reductions to Available Funds Amount: 316,273.55 Total Available Funds: 29,357,910.
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