-----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, CLWxSQFQQCRN1OvgvKS+OJp7aEOh9rh7se0DoDcJrWBBuxYl9B0zjHDhtHBEb1iT 0e3fu0SXWLRVw0o2uzYgjQ== 0001070168-99-000003.txt : 19990106 0001070168-99-000003.hdr.sgml : 19990106 ACCESSION NUMBER: 0001070168-99-000003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981231 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990105 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: 99500592 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: December 28, 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 November, 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 November, 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 November, 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 December 31, 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. 79,576,196 375,1 11,381,706. 11,756,810.40 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 50,000,000.00 208,3 208,333.33 A-7 330,000,000. 264,290,665. 1,272,45 10,962,722. 12,235,178.75 A-8 44,000,000 44,000,000 228,8 228,800.00 M-1 26,000,000 26,000,000 129,7 129,708.15 M-2 23,000,000 23,000,000 118,9 118,958.49 B-1 21,000,000 21,000,000 119,2 119,201.78 RS 2,376,33 2,376,334.16 Totals 950,000,000. 770,866,861. 6,493,45 22,344,428. 28,837,883.40
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A-1 68,194,490 5.142300% 5.724400% 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-7 253,327,942. 5.252300% 5.834400% A-8 44,000,000 6.240000% 6.240000% M-1 26,000,000 5.442300% 6.024400% M-2 23,000,000 5.642300% 6.224400% B-1 21,000,000 6.192300% 6.774400% RS 0.000000% 0.000000% Totals 748,522,432.98
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A-1 00755WER3 556.476899 2.623107 79.592350 82.215457 476.884549 A-2 00755WES1 1,000.000000 5.208333 0.000000 5.208333 1,000.000000 A-3 00755WET9 1,000.000000 5.225000 0.000000 5.225000 1,000.000000 A-4 00755WEU6 1,000.000000 5.350000 0.000000 5.350000 1,000.000000 A-5 00755WEV4 1,000.000000 5.500000 0.000000 5.500000 1,000.000000 A-6 00755WEW2 1,000.000000 5.358333 0.000000 5.358333 1,000.000000 A-IO 00755WFC5 1,000.000000 4.166667 0.000000 4.166667 1,000.000000 A-7 00755WEX0 800.880804 3.855927 33.220372 37.076299 767.660432 A-8 00755WEY8 1,000.000000 5.200000 0.000000 5.200000 1,000.000000 M-1 00755WEZ5 1,000.000000 4.988775 0.000000 4.988775 1,000.000000 M-2 00755WFA9 1,000.000000 5.172108 0.000000 5.172108 1,000.000000 B-1 00755WFB7 1,000.000000 5.676275 0.000000 5.676275 1,000.000000 RS AM9801113 0.000000 2.501404 0.000000 2.501404 0.000000
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 14,140,984 3,367,58 1,943,031 629,0 8,593,604 % of Pool Balanc 3.26999% 0.77873% 0.44931% 0.14547% 1.98720% Number of Loans 256 63 41 9 169 % of Loans 3.47637% 0.85551% 0.55676% 0.12222% 2.29495% Group 2 Principal Balanc 15,886,925 4,812,59 1,070,423 924,4 11,929,800. % of Pool Balanc 4.73761% 1.43515% 0.31921% 0.27568% 3.55756% Number of Loans 179 58 13 11 143 % of Loans 4.60746% 1.49292% 0.33462% 0.28314% 3.68082% Loans in Bankrup Group 1 3,866,247.42 Group 2 4,999,501.34 8,865,748.76 Combined REO BOOK VALUE 1,700,752.00
General Mortgage Loan Information:
Group I Group II Total Beginning Aggregate Mortgage Loan Balance 443,828,864. 346,298,856. 790,127,721. Principal Reduction 11,337,406. 10,962,722 22,300,129. Ending Aggregate Mortgage Loan Balance 432,447,158. 335,336,133. 767,783,291. Beginning Aggregate Mortgage Loan Count 7559 4013 11572 Ending Aggregate Mortgage Loan Count 7364 3885 11249 Current Weighted Average Coupon Rate 10.480347% 10.466348% 10.474211% Next Weighted Average Coupon Rate 10.484755% 10.463036% 10.475269%
Mortgage Loan Principal Reduction Information:
Group I Group II Total Scheduled Principal 786,66 379,2 1,165,899 Curtailments Prepayments 10,539,217. 10,204,999 20,744,216. Repurchases/Substitutions 297,3 297,35 Liquidation Proceeds 55,8 81,1 136,95 Other Principal Less: Realized Losses 44,2 44,3 Less: Delinquent Principal not Advanced by Servicer Total Principal Reduction 11,337,406. 10,962,722 22,300,129.
Servicer Information:
Group I Group II Total Accrued Servicing Fee for the Current Period 184,92 144,2 329,21 Less: Amounts to Cover Interest Shortfalls 4,3 2, 6,7 Less: Delinquent Service Fees 42,2 35,6 77,9 Collected Servicing Fees for Current Period: 138,29 106,2 244,58 Advanced Principal 61,0 13,6 74,7 Advanced Interest 905,07 745,3 1,650,412
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 10,566,597 221,2 A-2 A-3 A-4 A-5 A-6 A-IO A-7 10,177,619 213,0 A-8 M-1 M-2 B-1 Total 20,744,216 434,3
Prior Has a Senior Overcolla- Supplemental Extra Extra Trigger Event Enhancement Teralization Interest Principal Principal Occurred Percentage Amount Amount Dist. Amt. Distributed Group I N/A N/A 7,252,66 44,2 44,2 Group II NO 25.363781% 12,008,191 Total 19,260,859 44,3 44,3 Current Target Overcolla- Overcolla- Teralization Teralization Amount Amount Group I 7,252,66 7,252,668.02 Group II 12,008,190 12,008,191.59 Total 19,260,858 19,260,859.61
Beginning Ending Balance Balance Component I 44,000,000 44,000,000.00 Component II 220,290,665. 209,327,942.49 Group I Group II Total Insured Payment 0.00 N/A 0.00 Pool Rolling six month delinquency rate 2.1499% 3.7178% 2.8390% 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) 5,310,617.98 5,883,013.58 11,193,631.56 Book Value of REO loans 29,059.00 1,671,693.00 1,700,752.00
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 5,168,298.75 Principal Collected: 21,835,384.46 Insurance Proceeds Received: - Net Liquidation Proceeds: 92,655.62 Delinquency Advances on Mortgage Interest: 1,650,412.63 Delinquency Advances on Mortgage Principal 74,731.88 Substitution Amounts: 297,357.48 Trust Termination Proceeds: - Investment Earnings on Certificate Account: 21,666.91 Capitalized Interest Requirement: - Pre-Funding Account: - Sum of the Above Amounts: 29,140,507.73 LESS: Servicing Fees (including PPIS): 251,294.07 Dealer Reserve: - Trustee Fees: 5,267.52 Insurance Premiums: 46,062.74 Reimbursement of Delinquency Advances: - Reimbursements of Servicing Advances: - Total Reductions to Available Funds Amount: 302,624.33 Total Available Funds: 28,837,883.
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