-----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, JqDvjxAz9Kn79F5A8TZihe9YjwXETxs57Ct0MSetbo9soTPu1Gfq538gFhb0ZpKB R0+g2LVaHnTyhhiCC86Jrw== 0001058671-98-000002.txt : 19980601 0001058671-98-000002.hdr.sgml : 19980601 ACCESSION NUMBER: 0001058671-98-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980430 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980529 SROS: NONE 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: 98633667 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: May 26, 1998 ADVANTA Home Equity Loan Trust 1998-1 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 April, 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 April, 1998 Monthly Period relating to the Home Equity Loan Pass-Through Certificates Series 1998-1, Class A issued by the ADVANTA Home Equity Loan Trust 1998-1. EXHIBIT INDEX Exhibit 1. Monthly Report for the April, 1998 Monthly Period relating to the Home Equity Loan Pass-Through 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 Home Equity Loan Trust 1998-1 BY: ADVANTA Mortgage Corp., USA BY: /s/ William P. Garland William P. Garland Senior Vice President Loan Service Administration May 29, 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. 139,137,748. 645,1 7,207,133 7,852,318.43 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 208,3 208,333.33 A-7 330,000,000. 326,831,425. 1,544,48 6,482,776 8,027,261.39 A-8 44,000,000 44,000,000 228,8 228,800.00 M-1 26,000,000 26,000,000 126,8 126,845.84 M-2 23,000,000 23,000,000 115,9 115,915.34 B-1 21,000,000 21,000,000 115,1 115,139.91 RS - Totals 900,000,000. 892,969,174. 4,649,26 13,689,910. 18,339,172.58
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A-1 131,930,614. 5.756300% 5.748400% 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-7 320,348,649. 5.866300% 5.858400% A-8 44,000,000 6.240000% 6.240000% M-1 26,000,000 6.056300% 6.048400% M-2 23,000,000 6.256300% 6.248400% B-1 21,000,000 6.806300% 6.798400% RS 0.000000% 0.000000% Totals 879,279,263.84
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A-1 00755WER3 972.99125 4.511779 50.399538 54.911317 922.591711 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 0 A-7 00755WEX0 990.39826 4.680256 19.644778 24.325034 970.753482 A-8 00755WEY8 1000 5.2 0 5.2 1000 M-1 00755WEZ5 1000 4.878686 0 4.878686 1000 M-2 00755WFA9 1000 5.039797 0 5.039797 1000 B-1 00755WFB7 1000 5.482853 0 5.482853 1000 RS AM9801113 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 7,433,05 1,643,84 44,9 277,63 % of Pool Balanc 1.51197% 0.33438% 0.00914% 0.00000% 0.05647% Number of Loans 137 30 2 0 6 % of Loans 1.63993% 0.35911% 0.02394% 0.00000% 0.07182% Group 2 Principal Balanc 6,583,23 510,5 246,21 565,39 % of Pool Balanc 1.67376% 0.12981% 0.06260% 0.00000% 0.14375% Number of Loans 76 9 3 0 8 % of Loans 1.67217% 0.19802% 0.06601% 0.00000% 0.17602% Loans in Bankrup Group 1 238,714.52 Group 2 230,766.01 469,480.53
General Mortgage Loan Information:
Group I Group II Total Beginning Aggregate Mortgage Loan Balance 497,422,902. 398,420,473. 895,843,375. Principal Reduction 5,808,583 5,101,31 10,909,899. Ending Aggregate Mortgage Loan Balance 491,614,319. 393,319,156. 884,933,475. Beginning Aggregate Mortgage Loan Count 8448 4606 13054 Ending Aggregate Mortgage Loan Count 8354 4545 12899 Current Weighted Average Coupon Rate 10.574582% 10.445737% 10.517279% Next Weighted Average Coupon Rate 10.565368% 10.443734% 10.511306%
Mortgage Loan Principal Reduction Information:
Group I Group II Total Scheduled Principal 632,77 182,3 815,12 Curtailments Prepayments 4,669,126 4,695,82 9,364,947 Repurchases/Substitutions 506,28 223,1 729,40 Liquidation Proceeds Other Principal Less: Realized Losses Less: Delinquent Principal not Advanced by Servicer Total Principal Reduction 5,808,583 5,101,31 10,909,899.
Servicer Information:
Group I Group II Total Accrued Servicing Fee for the Current Period 180,46 145,8 326,33 Less: Amounts to Cover Interest Shortfalls 2,0 1, 3,7 Less: Delinquent Service Fees 26,7 20,1 46,9 Collected Servicing Fees for Current Period: 151,61 123,9 275,60 Advanced Principal 38,4 7, 45,9 Advanced Interest 586,27 422,4 1,008,735
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 4,930,23 384,2 A-2 A-3 A-4 A-5 A-6 A-IO A-7 4,434,71 345,6 A-8 M-1 M-2 B-1 Total 9,364,94 729,8
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 1,285,15 1,398,550 2,683,70 7,252,668 Group II NO 18.693675% 1,589,04 1,381,460 2,970,50 12,008,191. Total 2,874,20 2,780,011 5,654,21 19,260,859.
MISCELLANEOUS INFORMATION:
Class A-IO Notional Balance - Group II Insured Payment Included in amounts Distributed to -
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 6,796,303.66 Principal Collected: 10,134,588.77 Insurance Proceeds Received: - Net Liquidation Proceeds: - Delinquency Advances on Mortgage Interest: 1,008,735.32 Delinquency Advances on Mortgage Principal 45,901.59 Substitution Amounts: 729,409.40 Trust Termination Proceeds: - Investment Earnings on Certificate Account: 10,732.23 Capitalized Interest Requirement: - Pre-Funding Account: - Sum of the Above Amounts: 18,725,670.97 LESS: Servicing Fees (including PPIS): 326,331.04 Dealer Reserve: - Trustee Fees: 5,972.29 Insurance Premiums: 54,195.06 Reimbursement of Delinquency Advances: - Reimbursements of Servicing Advances: - Total Reductions to Available Funds Amount: 386,498.39 Total Available Funds: 18,339,172.
-----END PRIVACY-ENHANCED MESSAGE-----