-----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, DcMv6QwinGe6vTOaqES0a/9QcmZkMDpMsEFoaf7ex8Z2QYhEF1F6iA3MuSNwQJQ5 UH1MH2sdmaK5b55OmG5++Q== 0001064357-99-000022.txt : 19990702 0001064357-99-000022.hdr.sgml : 19990702 ACCESSION NUMBER: 0001064357-99-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990630 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990701 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: 99657375 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: June 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 (858) 676-3099 Item 5. Other Events Information relating to the distributions to Certificate holders for the May, 1999 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 May, 1999 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 May, 1999 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 June 30, 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 37,662,682 202,1 4,350,366 4,552,489.69 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 40,281,330 216,1 5,019,926 5,236,102.95 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-16 180,000,000 126,090,179. 551,8 5,668,066 6,219,912.16 A-17 60,000,00 60,000,000 302,5 302,500.00 A-18 101,250,000 68,107,731 298,0 3,385,089 3,683,169.27 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 1,366,06 1,366,064.73 Totals 925,000,000 754,891,924. 5,765,77 18,423,448. 24,189,220.05
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A-1 33,312,316 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 35,261,404 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-16 120,422,113. 5.082500% 5.252500% A-17 60,000,000 6.050000% 6.050000% A-18 64,722,642 5.082500% 5.252500% 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 736,468,476.14
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A-1 00755WFD3 515.927160 2.768809 59.594063 62.362872 456.333097 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 457.742392 2.456551 57.044619 59.501170 400.697773 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 700.500998 3.065811 31.489257 34.555068 669.011741 A-17 00755WFW1 1,000.000000 5.041667 0.000000 5.041667 1,000.000000 A-18 00755WFX9 672.668957 2.944001 33.432979 36.376980 639.235978 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 1.476827 0.000000 1.476827 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 5,387,70 1,055,22 378,95 1,130,02 7,907,224.20 % of Pool Balan 2.64996% 0.51901% 0.18639% 0.55581% 3.88920% Number of Loans 91 22 10 18 133 % of Loans 2.96707% 0.71731% 0.32605% 0.58689% 4.33649% Group IIA Principal Balan 7,042,67 1,585,42 157,75 934,6 9,725,883.93 % of Pool Balan 3.69700% 0.83225% 0.08281% 0.49061% 5.10553% Number of Loans 83 17 4 14 119 % of Loans 4.05076% 0.82967% 0.19522% 0.68326% 5.80771% Group IB Principal Balan 6,453,27 2,071,45 455,63 492,5 5,330,455.01 % of Pool Balan 2.47954% 0.79591% 0.17507% 0.18926% 2.04812% Number of Loans 109 45 10 11 98 % of Loans 2.76019% 1.13953% 0.25323% 0.27855% 2.48164% Group IIB Principal Balan 5,212,04 1,487,71 307,96 4,057,939.73 % of Pool Balan 2.56356% 0.73174% 0.15148% 0.00000% 1.99591% Number of Loans 69 21 3 0 53 % of Loans 5.53328% 1.68404% 0.24058% 0.00000% 4.25020% Loans in Bankrup Group IA 3,366,547.05 Group IIA 4,443,778.42 Group IB 4,594,695.97 Group IIB 1,826,560.71 14,231,582.15 Combined REO BOOK VALUE 2,864,440.00
General Mortgage Loan Information:
Group IA Group IIA Group IB Group IIB Total Beginning Aggregate Mortgage Loa 207,662,682. 196,165,179. 265,281,331. 106,245,231. 775,354,425.52 Principal Reduction 4,350,36 5,668,06 5,019,926 3,385,08 18,423,448.50 Ending Aggregate Mortgage Loan B 203,312,316. 190,497,113. 260,261,404. 102,860,142. 756,930,977.02 Beginning Aggregate Mortgage Loa 3142 2105 4024 1287 10558 Ending Aggregate Mortgage Loan C 3067 2049 3949 1247 10312 Current Weighted Average Coupon 10.207856% 10.339008% 9.687064% 10.014235% 10.036321% Next Weighted Average Coupon Rat 10.201564% 10.326232% 9.671591% 10.001235% 10.023492%
Mortgage Loan Principal Reduction Information:
Group IA Group IIA Group IB Group IIB Total Scheduled Principal 292,8 92,9 405,26 57,6 848,680.71 Curtailments - Prepayments 3,969,27 5,217,35 4,253,236 3,155,61 16,595,476.67 Repurchases/Substitutions - Liquidation Proceeds 88,2 357,7 361,42 171,8 979,291.12 Other Principal - Less: Realized Losses (40,6 (27,5 (121,68 (18,6 (208,553.44) Less: Delinquent Principal not A - Total Principal Reduction 4,391,011.03 5,695,603.14 5,141,609.36 3,403,778.41 18,632,001.94
Servicer Information:
Group IA Group IIA Group IB Group IIB Total Accrued Servicing Fee for the Cu 86,5 81,7 110,53 44,2 323,064.35 Less: Amounts to Cover Interest 3, 3,490.06 Less: Delinquent Service Fees 22,6 22,4 23,9 12,4 81,549.43 Collected Servicing Fees for Cur 60,6 58,9 86,5 31,8 238,024.86 Advanced Principal 23,3 8, 35,7 5, 73,388.28 Advanced Interest 470,3 459,6 478,11 241,4 1,649,559.22
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 3,918,7 4,350,36 - A-2 - A-3 - A-4 - A-5 - A-6 - A-7 - A-8 - A-9 4,521,8 5,019,92 - A-10 - A-11 - A-12 - A-13 - A-14 - A-15 - A-16 5,105,6 5,668,06 - A-17 - A-18 3,049,2 3,385,08 - A-19 - Total 16,595,47 18,423,448 -
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 3,000,00 40,6 40,644.40 Group IIA NO N/A 10,075,000 27,5 27,536.91 Group IB NO N/A 3,000,00 121,6 121,682.88 Group IIB NO N/A 4,387,50 18,6 18,689.25 Total 20,462,500 208,5 208,553.44
Current Target Overcolla- Overcolla- teralization teralization Amount Amount Group IA 3,000,00 3,000,000.03 Group IIA 10,075,000 10,075,000.12 Group IB 3,000,00 3,000,000.62 Group IIB 4,387,50 4,387,500.11 Total 20,462,500 20,462,500.88
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 4,752,564.57 Principal Collected: 17,370,769.10 Insurance Proceeds Received: - Net Liquidation Proceeds: 770,737.68 Delinquency Advances on Mortgage Interest: 1,649,559.02 Delinquency Advances on Mortgage Principal 73,388.28 Substitution Amounts: - Trust Termination Proceeds: - Investment Earnings on Certificate Account: 18,001.21 Sum of the Above Amounts: 24,635,019.86 LESS: Servicing Fees (including PPIS): 241,514.92 Dealer Reserve: - Trustee Fees: 4,522.90 Insurance Premiums: 77,550.60 Reimbursement of Delinquency Advances: 122,211.39 Reimbursements of Servicing Advances: - Total Reductions to Available Funds Amount: 445,799.81 Total Available Funds: 24,189,220.05
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