-----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, ArbxoZn1rmd4/XuMD+ST12kevPxkhs/AuaiYv7/PEdobuzARZjwdv4gQVBwkpqqK +dAust6ZoZYYLnxMDL/bKQ== 0001064357-99-000011.txt : 19990409 0001064357-99-000011.hdr.sgml : 19990409 ACCESSION NUMBER: 0001064357-99-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981231 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990408 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA MORTGAGE LOAN TRUST 1998-2 CENTRAL INDEX KEY: 0001064357 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-99510-08 FILM NUMBER: 99589152 BUSINESS ADDRESS: STREET 1: 16875 WEST BERRADO DRIVE CITY: SAN DIEGO STATE: CA ZIP: 92127 BUSINESS PHONE: 6196741800 MAIL ADDRESS: STREET 1: C/O ADVANTA MORTGAGE CORP STREET 2: 10790 RANCHO BERNARDO ROAD 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 Mortgae Loan Trust 1998-2 New York 33-99510-08 33-0816529 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 Mortgage Loan Asset-Backed Certificates, Series 1998-2 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 June 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 1998-2, Class A issued by the ADVANTA Mortgage Loan Trust 1998-2. EXHIBIT INDEX Exhibit 1. Monthly Report for the November, 1998 Monthly Period relating to the Mortgage Loan Asset-Backed Certificates, Series 1998-2, Class A issued by the ADVANTA Mortgage Loan Trust 1998-2. 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 1998-2 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 1998-2 Statement to Certificateholders
Original Prior Face Principal Class Value Balance Interest Principal Total A-1 73,000,00 60,138,591 322,7 3,265,055 3,587,799.16 A-2 41,000,00 41,000,000 209,1 209,100.00 A-3 34,000,00 34,000,000 175,3 175,383.33 A-4 17,000,00 17,000,000 89,3 89,391.67 A-5 24,000,00 24,000,000 126,6 126,600.00 A-6 27,000,00 27,000,000 149,1 149,175.00 A-7 15,000,00 15,000,000 76,8 76,875.00 A-8 9,000,0 9,000,00 47,7 47,700.00 A-9 88,000,00 70,593,869 378,8 5,443,563 5,822,417.51 A-10 61,000,00 61,000,000 311,1 311,100.00 A-11 38,000,00 38,000,000 196,6 196,650.00 A-12 28,000,00 28,000,000 147,7 147,700.00 A-13 28,000,00 28,000,000 148,4 148,400.00 A-14 36,000,00 36,000,000 199,5 199,500.00 A-15 31,000,00 31,000,000 161,4 161,458.33 A-16 180,000,000 163,369,097. 779,0 4,764,097 5,543,174.41 A-17 60,000,00 60,000,000 302,5 302,500.00 A-18 101,250,000 91,622,242 436,9 3,910,156 4,347,085.35 A-19 33,750,00 33,750,000 170,1 170,156.25 F-IO* 55,000,00 55,000,000 229,1 229,166.67 A-IO* 93,750,00 93,750,000 390,6 390,625.00 RS - Totals 925,000,000 868,473,801. 5,049,08 17,382,873. 22,431,957.68
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A-1 56,873,536 6.440000% 6.440000% A-2 41,000,000 6.120000% 6.120000% A-3 34,000,000 6.190000% 6.190000% A-4 17,000,000 6.310000% 6.310000% A-5 24,000,000 6.330000% 6.330000% A-6 27,000,000 6.630000% 6.630000% A-7 15,000,000 6.150000% 6.150000% A-8 9,000,00 6.360000% 6.360000% A-9 65,150,305 6.440000% 6.440000% A-IO 61,000,000 6.120000% 6.120000% A-11 38,000,000 6.210000% 6.210000% A-12 28,000,000 6.330000% 6.330000% A-13 28,000,000 6.360000% 6.360000% A-14 36,000,000 6.650000% 6.650000% A-15 31,000,000 6.250000% 6.250000% A-16 158,604,999. 5.202340% 5.784380% A-17 60,000,000 6.050000% 6.050000% A-18 87,712,086 5.202340% 5.784380% A-19 33,750,000 6.050000% 6.050000% F-IO* 55,000,000 5.000000% 5.000000% A-IO* 93,750,000 5.000000% 5.000000% RS 0.000000% 0.000000% Totals 851,090,928.04
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A-1 00755WFD3 823.816321 4.421148 44.726786 49.147934 779.089535 A-2 00755WFE1 1,000.000000 5.100000 0.000000 5.100000 1,000.000000 A-3 00755WFF8 1,000.000000 5.158333 0.000000 5.158333 1,000.000000 A-4 00755WFG6 1,000.000000 5.258334 0.000000 5.258334 1,000.000000 A-5 00755WFH4 1,000.000000 5.275000 0.000000 5.275000 1,000.000000 A-6 00755WFJ0 1,000.000000 5.525000 0.000000 5.525000 1,000.000000 A-7 00755WFK7 1,000.000000 5.125000 0.000000 5.125000 1,000.000000 A-8 00755WFL5 1,000.000000 5.300000 0.000000 5.300000 1,000.000000 A-9 00755WFM3 802.203063 4.305156 61.858679 66.163835 740.344384 A-IO 00755WFN1 1,000.000000 5.100000 0.000000 5.100000 1,000.000000 A-11 00755WFP6 1,000.000000 5.175000 0.000000 5.175000 1,000.000000 A-12 00755WFQ4 1,000.000000 5.275000 0.000000 5.275000 1,000.000000 A-13 00755WFR2 1,000.000000 5.300000 0.000000 5.300000 1,000.000000 A-14 00755WFS0 1,000.000000 5.541667 0.000000 5.541667 1,000.000000 A-15 00755WFT8 1,000.000000 5.208333 0.000000 5.208333 1,000.000000 A-16 00755WFV3 907.606099 4.328203 26.467211 30.795414 881.138888 A-17 00755WFW1 1,000.000000 5.041667 0.000000 5.041667 1,000.000000 A-18 00755WFX9 904.911037 4.315350 38.618826 42.934176 866.292211 A-19 00755WFY7 1,000.000000 5.041667 0.000000 5.041667 1,000.000000 F-IO* 00755WFU5 1,000.000000 4.166667 0.000000 4.166667 1,000.000000 A-IO* 00755WFZ4 1,000.000000 4.166667 0.000000 4.166667 1,000.000000 RS AM9802122 0.000000 0.000000 0.000000 0.000000 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 IA Principal Balan 6,154,68 2,139,65 935,64 55,2 3,826,470 % of Pool Balan 2.70820% 0.94150% 0.41171% 0.02430% 1.68373% Number of Loans 106 34 19 1 77 % of Loans 3.08229% 0.98866% 0.55249% 0.02908% 2.23902% Group IIA Principal Balan 8,001,05 2,199,33 603,83 73,7 6,089,279 % of Pool Balan 3.61128% 0.99267% 0.27254% 0.03328% 2.74840% Number of Loans 100 23 6 1 77 % of Loans 4.22297% 0.97128% 0.25338% 0.04223% 3.25169% Group IB Principal Balan 7,939,19 2,216,75 1,604,491 168,3 2,346,658 % of Pool Balan 2.73082% 0.76249% 0.55189% 0.05792% 0.80717% Number of Loans 133 43 29 2 36 % of Loans 3.01314% 0.97417% 0.65700% 0.04531% 0.81559% Group IIB Principal Balan 5,312,86 960,1 660,74 1,183,114 % of Pool Balan 2.33778% 0.42247% 0.29074% 0.00000% 0.52060% Number of Loans 64 13 7 0 16 % of Loans 4.29530% 0.87248% 0.46980% 0.00000% 1.07383% Loans in Bankrup Group IA 1,483,060.11 Group IIA 1,225,194.31 Group IB 1,128,592.93 Group IIB 445,127.76 4,281,975.11 Combined REO BOOK VALUE 319,293.00
General Mortgage Loan Information:
Group IA Group IIA Group IB Group IIB Total Beginning Aggregate Mortgage Loa 229,972,043. 225,827,346. 295,587,021. 126,588,521. 877,974,932. Principal Reduction 2,711,15 4,270,02 4,861,420 3,660,99 15,503,601. Ending Aggregate Mortgage Loan B 227,260,888. 221,557,318. 290,725,600. 122,927,524. 862,471,331. Beginning Aggregate Mortgage Loa 3476 2411 4484 1529 11900 Ending Aggregate Mortgage Loan C 3439 2368 4414 1490 11711 Current Weighted Average Coupon 10.253738% 10.355393% 9.750179% 10.072898% 10.084278% Next Weighted Average Coupon Rat 10.251051% 10.351501% 9.741842% 10.064097% 10.078562%
Mortgage Loan Principal Reduction Information:
Group IA Group IIA Group IB Group IIB Total Scheduled Principal 286,5 146,0 401,23 60,0 893,95 Curtailments Prepayments 2,424,58 4,078,37 4,337,687 3,600,91 14,441,556. Repurchases/Substitutions 122,50 122,50 Liquidation Proceeds 45,5 45,5 Other Principal Less: Realized Losses (5, (5,6 Less: Delinquent Principal not A Total Principal Reduction 2,711,15 4,275,67 4,861,420 3,660,99 15,509,249.
Servicer Information:
Group IA Group IIA Group IB Group IIB Total Accrued Servicing Fee for the Cu 95,8 94,0 123,16 52,7 365,82 Less: Amounts to Cover Interest 1, 2,3 Less: Delinquent Service Fees 23,1 20,5 23,9 11,4 79,1 Collected Servicing Fees for Cur 71,3 72,9 99,2 40,8 284,33 Advanced Principal 20,9 7, 35,1 6, 69,4 Advanced Interest 483,4 423,7 482,62 225,9 1,615,786
Other Subordination Interest Prepayment Unscheduled Increase Carry Applied Realized Loss Principal Principal Principal Forward Realized Loss Amortization Class Distributed Distributed Distributed Amount Amount Amount A-1 2,712,5 2,912,06 A-2 A-3 A-4 A-5 A-6 A-7 A-8 A-9 4,522,4 4,855,05 A-10 A-11 A-12 A-13 A-14 A-15 A-16 3,957,9 4,249,04 A-17 A-18 3,248,5 3,487,42 A-19 Total 14,441,55 15,503,601
Unpaid Realized Loss Class Amount A-1 A-2 A-3 A-4 A-5 A-6 A-7 A-8 A-9 A-10 A-11 A-12 A-13 A-14 A-15 A-16 A-17 A-18 A-19 Total
Prior Has a Senior Overcolla- Supplemental Subordination Subordination Trigger Event Enhancement Teralization Interest Increase Increase Occurred Percentage Amount Amount Amount Distributed Group IA NO N/A 2,833,45 166,5 166,54 Group IIA NO N/A 2,458,24 494,0 494,06 Group IB NO N/A 2,993,15 969,4 969,49 Group IIB NO N/A 1,216,27 249,1 249,15 Total 9,501,13 1,879,27 1,879,272
Current Target Overcolla- Overcolla- teralization teralization Amount Amount Group IA 3,000,00 3,000,000 Group IIA 2,952,31 3,000,000 Group IB 3,962,64 10,075,000. Group IIB 1,465,43 4,387,500 Total 11,380,403 20,462,500.
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 5,683,185.31 Principal Collected: 15,266,025.32 Insurance Proceeds Received: - Net Liquidation Proceeds: 39,936.60 Delinquency Advances on Mortgage Interest: 1,615,786.52 Delinquency Advances on Mortgage Principal 69,491.19 Substitution Amounts: 122,500.00 Trust Termination Proceeds: - Investment Earnings on Certificate Account: 16,893.95 Sum of the Above Amounts: 22,813,818.89 LESS: Servicing Fees (including PPIS): 286,675.13 Dealer Reserve: - Trustee Fees: 5,121.52 Insurance Premiums: 90,064.56 Reimbursement of Delinquency Advances: - Reimbursements of Servicing Advances: - Total Reductions to Available Funds Amount: 381,861.21 Total Available Funds: 22,431,957.
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