-----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, LbZ2pG/WKv/aB+y4w/a5vN4WMSDfiNa4wy/dgzTNZ88IZodbiIdwfV9gt7865wF1 vNkD09UxjKmapWaM9H0qtw== 0001064357-99-000012.txt : 19990409 0001064357-99-000012.hdr.sgml : 19990409 ACCESSION NUMBER: 0001064357-99-000012 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990131 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: 99589153 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: January 25, 1999 ADVANTA Mortgage 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 December, 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 December,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 December, 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 March 3, 1999 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 56,873,536 305,2 2,739,546 3,044,767.38 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 65,150,305 349,6 7,894,317 8,243,957.39 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-16 180,000,000 158,604,999. 713,5 5,311,135 6,024,693.49 A-17 60,000,00 60,000,000 302,5 302,500.00 A-18 101,250,000 87,712,086 394,6 3,846,929 4,241,542.72 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 925,000,000 851,090,928. 4,894,51 19,791,928. 24,686,442.23
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A-1 54,133,990 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 57,255,988 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-16 153,293,864. 5.784380% 5.099690% A-17 60,000,000 6.050000% 6.050000% A-18 83,865,156 5.784380% 5.099690% 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 831,298,999.59
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A-1 00755WFD3 779.089535 4.181114 37.528028 41.709142 741.561507 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 740.344384 3.973181 89.708153 93.681334 650.636231 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 881.138888 3.964211 29.506309 33.470520 851.632579 A-17 00755WFW1 1,000.000000 5.041667 0.000000 5.041667 1,000.000000 A-18 00755WFX9 866.292211 3.897416 37.994364 41.891780 828.297847 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 6,049,37 1,413,74 665,70 282,5 5,318,025 % of Pool Balan 2.69900% 0.63076% 0.27010% 0.12606% 2.37270% Number of Loans 106 22 12 3 99 % of Loans 3.12961% 0.64954% 0.35430% 0.08857% 2.92294% Group IIA Principal Balan 6,131,22 2,406,62 122,35 217,7 7,064,040 % of Pool Balan 2.83467% 1.11267% 0.05657% 0.10067% 3.26595% Number of Loans 68 32 4 2 88 % of Loans 2.93737% 1.38229% 0.17279% 0.08639% 3.80130% Group IB Principal Balan 7,484,27 2,731,60 352,00 168,3 4,237,469 % of Pool Balan 2.63216% 0.96068% 0.12380% 0.05922% 1.49028% Number of Loans 132 42 10 2 69 % of Loans 3.05485% 0.97200% 0.23143% 0.04629% 1.59685% Group IIB Principal Balan 4,407,92 1,768,59 106,45 2,184,045 % of Pool Balan 1.96665% 0.78908% 0.04749% 0.00000% 0.97444% Number of Loans 56 25 2 0 25 % of Loans 3.86473% 1.72533% 0.13803% 0.00000% 1.72533% Loans in Bankrup Group IA 1,789,200.67 Group IIA 2,010,092.68 Group IB 1,237,636.01 Group IIB 483,058.91 5,519,988.27 Combined REO BOOK VALUE 319,293.00
General Mortgage Loan Information:
Group IA Group IIA Group IB Group IIB Total Beginning Aggregate Mortgage Loa 227,260,888. 221,557,318. 290,725,600. 122,927,524. 862,471,331. Principal Reduction 3,126,89 5,263,45 6,385,929 3,103,29 17,879,575. Ending Aggregate Mortgage Loan B 224,133,990. 216,293,864. 284,339,670. 119,824,230. 844,591,756. Beginning Aggregate Mortgage Loa 3439 2368 4414 1490 11711 Ending Aggregate Mortgage Loan C 3387 2315 4321 1449 11472 Current Weighted Average Coupon 10.250530% 10.350676% 9.741842% 10.064097% 10.078213% Next Weighted Average Coupon Rat 10.241850% 10.344557% 9.731488% 10.051371% 10.069311%
Mortgage Loan Principal Reduction Information:
Group IA Group IIA Group IB Group IIB Total Scheduled Principal 354,0 135,5 453,06 65,7 1,008,399 Curtailments Prepayments 2,700,18 5,092,26 5,932,865 3,037,53 16,762,849. Repurchases/Substitutions 72,6 35,6 108,32 Liquidation Proceeds Other Principal Less: Realized Losses Less: Delinquent Principal not A Total Principal Reduction 3,126,89 5,263,45 6,385,929 3,103,29 17,879,575.
Servicer Information:
Group IA Group IIA Group IB Group IIB Total Accrued Servicing Fee for the Cu 94,6 92,3 121,13 51,2 359,36 Less: Amounts to Cover Interest 2, 3,4 Less: Delinquent Service Fees 22,8 20,8 25,4 11,5 80,7 Collected Servicing Fees for Cur 69,4 71,0 95,7 38,9 275,22 Advanced Principal 22,5 9, 38,0 7, 77,2 Advanced Interest 474,8 431,2 511,08 228,6 1,645,864
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 2,320,2 2,474,84 A-2 A-3 A-4 A-5 A-6 A-7 A-8 A-9 6,686,1 7,131,54 A-10 A-11 A-12 A-13 A-14 A-15 A-16 4,498,2 4,797,95 A-17 A-18 3,258,1 3,475,22 A-19 Total 16,762,84 17,879,575
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 3,387,35 (387,3 (387,35 Group IIA NO N/A 2,952,31 47,6 47,6 Group IB NO N/A 3,575,29 1,508,38 1,508,387 Group IIB NO N/A 1,465,43 743,6 743,63 Total 11,380,403 1,912,35 1,912,353
Current Target Overcolla- Overcolla- teralization teralization Amount Amount Group IA 3,000,00 3,000,000 Group IIA 3,000,00 3,000,000 Group IB 5,083,68 10,075,000. Group IIB 2,209,07 4,387,500 Total 13,292,756 20,462,500.
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 5,516,883.22 Principal Collected: 17,694,037.26 Insurance Proceeds Received: - Net Liquidation Proceeds: - Delinquency Advances on Mortgage Interest: 1,645,864.77 Delinquency Advances on Mortgage Principal 77,212.51 Substitution Amounts: 108,325.63 Trust Termination Proceeds: - Investment Earnings on Certificate Account: 15,725.05 Sum of the Above Amounts: 25,058,048.44 LESS: Servicing Fees (including PPIS): 278,636.23 Dealer Reserve: - Trustee Fees: 5,031.09 Insurance Premiums: 87,938.88 Reimbursement of Delinquency Advances: - Reimbursements of Servicing Advances: - Total Reductions to Available Funds Amount: 371,606.20 Total Available Funds: 24,686,442.
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