-----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, IsA1AINtQ0q4AaTxwmGOqKXzv4EVxW12b+O3kzHOTspG5kRx8sl3yaa0pF/i6ShL LKKWZ02Ag0XsFaH+sGBlSg== 0001064357-99-000029.txt : 19990802 0001064357-99-000029.hdr.sgml : 19990802 ACCESSION NUMBER: 0001064357-99-000029 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990731 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990730 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: 99673930 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: July 26, 1999 ADVANTA Mortgage Loan Trust 1998-2 New York 33-99510-08 33-0816529 c/o ADVANTA Mortgage Corp., USA Attn: H. John Berens 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 June, 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 June, 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 June, 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/ H. John Berens H. John Berens Senior Vice President Loan Service Administration July 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 33,312,316 178,7 5,279,478 5,458,254.56 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 35,261,404 189,2 6,619,537 6,808,773.58 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-16 180,000,000 120,422,113. 534,0 7,612,842 8,146,935.76 A-17 60,000,00 60,000,000 296,6 296,627.38 A-18 101,250,000 64,722,642 292,7 3,321,923 3,614,663.09 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 93,750,000 385,7 385,771.59 RS 1,436,51 1,436,515.08 Totals 925,000,000 736,468,476. 5,752,11 22,833,781. 28,585,897.29
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A-1 28,032,837 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 28,641,866 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-16 112,809,271. 5.252500% 5.323750% A-17 60,000,000 6.050000% 6.050000% A-18 61,400,719 5.252500% 5.323750% 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 713,634,694.64
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A-1 00755WFD3 456.333097 2.448988 72.321623 74.770611 384.011474 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 400.697773 2.150411 75.222016 77.372427 325.475757 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 669.011741 2.967187 42.293568 45.260755 626.718173 A-17 00755WFW1 1,000.000000 4.943790 0.000000 4.943790 1,000.000000 A-18 00755WFX9 639.235977 2.891255 32.809121 35.700376 606.426856 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 4.114897 0.000000 4.114897 1,000.000000 RS AM9802122 0.000000 1.552989 0.000000 1.552989 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 5,185,80 1,229,69 369,66 1,847,58 6,871,855.93 % of Pool Balan 2.61866% 0.62096% 0.18667% 0.93297% 3.47006% Number of Loans 94 25 11 33 120 % of Loans 3.14908% 0.83752% 0.36851% 1.10553% 4.02010% Group IIA Principal Balan 6,287,95 1,422,33 561,28 1,365,38 10,794,870.60 % of Pool Balan 3.43821% 0.77772% 0.30691% 0.74659% 5.90257% Number of Loans 79 18 7 19 129 % of Loans 4.00000% 0.91139% 0.35443% 0.96203% 6.53165% Group IB Principal Balan 6,643,38 2,032,12 389,46 338,8 6,266,760.57 % of Pool Balan 2.61920% 0.80118% 0.15355% 0.13359% 2.47071% Number of Loans 117 36 9 9 118 % of Loans 3.02795% 0.93168% 0.23292% 0.23292% 3.05383% Group IIB Principal Balan 5,108,43 678,3 307,96 4,508,526.64 % of Pool Balan 2.57959% 0.34252% 0.15551% 0.00000% 2.27666% Number of Loans 62 10 3 0 66 % of Loans 5.13245% 0.82781% 0.24834% 0.00000% 5.46358% Loans in Bankrup Group IA 3,947,170.42 Group IIA 4,167,416.05 Group IB 5,045,688.82 Group IIB 2,000,071.61 15,160,346.90 Combined REO BOOK VALUE 3,701,154.00
General Mortgage Loan Information:
Group IA Group IIA Group IB Group IIB Total Beginning Aggregate Mortgage Loa 203,312,316. 190,497,113. 260,261,404. 102,860,142. 756,930,977.02 Principal Reduction 5,279,47 7,612,84 6,619,537 3,321,92 22,833,781.50 Ending Aggregate Mortgage Loan B 198,032,837. 182,884,271. 253,641,867. 99,538,219 734,097,195.52 Beginning Aggregate Mortgage Loa 3067 2049 3949 1247 10,312 Ending Aggregate Mortgage Loan C 2985 1975 3864 1208 10,032 Current Weighted Average Coupon 10.201564% 10.326232% 9.671591% 10.001235% 10.023492% Next Weighted Average Coupon Rat 10.196046% 10.325234% 9.665431% 9.996544% 10.017844%
Mortgage Loan Principal Reduction Information:
Group IA Group IIA Group IB Group IIB Total Scheduled Principal 310,7 86,9 479,68 166,8 1,044,220.09 Curtailments ( (265.85) Prepayments 4,873,88 7,333,58 5,945,140 3,025,70 21,178,316.08 Repurchases/Substitutions - Liquidation Proceeds 94,8 192,2 194,97 129,3 611,511.18 Other Principal - Less: Realized Losses (28,7 (43,4 (62,4 (12,6 (147,307.48) Less: Delinquent Principal not A - Total Principal Reduction 5,308,266.76 7,656,261.74 6,681,974.68 3,334,585.80 22,981,088.98
Servicer Information:
Group IA Group IIA Group IB Group IIB Total Accrued Servicing Fee for the Cu 84,7 79,3 108,44 42,8 315,387.91 Less: Amounts to Cover Interest 2, 2,948.30 Less: Delinquent Service Fees 23,2 21,6 26,1 12,4 83,430.88 Collected Servicing Fees for Cur 59,4 56,8 82,2 30,4 229,008.73 Advanced Principal 23,3 9, 108,13 8, 149,163.35 Advanced Interest 476,9 442,5 516,36 242,6 1,678,545.98
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 4,896,7 5,279,47 - A-2 - A-3 - A-4 - A-5 - A-6 - A-7 - A-8 - A-9 6,139,6 6,619,53 - A-10 - A-11 - A-12 - A-13 - A-14 - A-15 - A-16 7,060,9 7,612,84 - A-17 - A-18 3,081,0 3,321,92 - A-19 - Total 21,178,31 22,833,781 -
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 28,7 28,788.30 Group IIA NO N/A 10,075,000 43,4 43,419.56 Group IB NO N/A 3,000,00 62,4 62,437.30 Group IIB NO N/A 4,387,50 12,6 12,662.32 Total 20,462,500 147,3 147,307.48
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: 4,559,517.04 Principal Collected: 22,073,106.97 Insurance Proceeds Received: - Net Liquidation Proceeds: 464,203.70 Delinquency Advances on Mortgage Interest: 1,678,545.98 Delinquency Advances on Mortgage Principal 149,163.35 Substitution Amounts: - Trust Termination Proceeds: - Investment Earnings on Certificate Account: 26,754.37 Sum of the Above Amounts: 28,951,291.41 LESS: Servicing Fees (including PPIS): 231,957.03 Dealer Reserve: - Trustee Fees: 4,415.43 Insurance Premiums: 75,088.99 Reimbursement of Delinquency Advances: 32,632.67 Reimbursements of Servicing Advances: - Civil Relief Act Shortfall 21,300.00 Total Reductions to Available Funds Amount: 365,394.12 Total Available Funds: 28,585,897.29
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