-----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, ESw8Wn6XLyDcVh6DMEG3DFPXAWUlW+cwOty1EgmVlO/Fgtf6qFGLNeAusAoyGs74 O2j2294p/4RA0jM88szd1Q== 0001019687-98-000364.txt : 19981222 0001019687-98-000364.hdr.sgml : 19981222 ACCESSION NUMBER: 0001019687-98-000364 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981120 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19981221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST ALLIANCE MORTGAGE LOAN TRUST 1998-2 CENTRAL INDEX KEY: 0001065411 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 952944875 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-44585-03 FILM NUMBER: 98772490 BUSINESS ADDRESS: STREET 1: 17305 VON KARMAN AVE CITY: IRVINE STATE: CA ZIP: 92614 BUSINESS PHONE: 9492248500 MAIL ADDRESS: STREET 1: 17305 VON KAMAN AVENUE CITY: IRVINE STATE: CA ZIP: 92614 8-K 1 LOAN TRUST OCTOBER, 1998-2 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): November 20, 1998 ----------------- First Alliance Mortgage Company on behalf of First Alliance Mortgage Loan Trust 1998-2 --------------------------------------------------------- (Exact name of registrant as specified in its charter) California 333-44585-03 95-2944875 - ---------------------------- -------------------- ------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) c/o First Alliance Mortgage Company Attention: Francisco Nebot Executive Vice President & CFO 17305 Von Karman Avenue Irvine, CA 92614 ----------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code: (949)224-8500 Not Applicable ----------------------------------------------------------------- (Former name or former address, if changed since last report.) Item 5. Other Events. Information relating to the distributions to Certificateholders for the November 1998 Monthly Period of the Trust in respect of the First Alliance 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 Mortgage 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 First Alliance Mortgage Company as Servicer, and Chase Manhattan Bank, as trustee. Item 7. Exhibit. Monthly Report for the November 1998 Monthly Period relating to the First Alliance Mortgage Loan Asset Backed Certificates Series 1998-2, Class A issued by the First Alliance Mortgage Loan Trust 1998-2. - -------------------------------------------------------------------------------- FIRST ALLIANCE MORTGAGE COMPANY MORTGAGE LOAN ASSET BACKED NOTES SERIES 1998-2 ================================================================================ DISTRIBUTION: 20-Nov-98
- ------------------------------------------------------------------------------------------------------------------------------------ ORIGINAL BEGINNING ENDING ENDING NOTE NOTE PRINCIPAL INTEREST TOTAL NOTE SUBORDINATION PRINCIPAL CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE - ------------------------------------------------------------------------------------------------------------------------------------ FIXED NOTE 70,000,000.00 64,900,717.77 1,644,605.74 352,627.23 1,997,232.97 63,256,112.03 700,000.00 63,956,112.03 ARMS NOTE 30,000,000.00 28,387,475.47 1,165,942.13 131,681.05 1,297,623.18 27,221,533.34 320,110.99 27,541,644.33 CERT N/A N/A 0.00 25,275.38 25,275.38 N/A N/A N/A ==================================================================================================================================== TOTALS 100,000,000.00 93,288,193.24 2,810,547.87 509,583.66 3,320,131.53 90,477,645.37 1,020,110.99 91,497,756.36 ====================================================================================================================================
FACTOR INFORMATION PER $1,000
- ------------------------------------------------------- --------------------------------------- PRINCIPAL INTEREST ENDING NOTE INIT NOTE CURR NOTE CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS RATE RATE - ------------------------------------------------------- --------------------------------------- FIXED NOTE 23.49436771 5.03753186 903.65874324 FIXED NOTE 6.52000% 6.52000% ARMS NOTE 38.86473767 4.38936833 907.38444467 ARMS NOTE 5.81625% 5.38688% CERT N/A N/A N/A CERT N/A N/A - ------------------------------------------------------- ---------------------------------------
- -------------------------------------------------------------------------------- FIRST ALLIANCE MORTGAGE COMPANY MORTGAGE LOAN ASSET BACKED NOTES SERIES 1998-2 ================================================================================ DISTRIBUTION: 20-Nov-98 SECTION 3.8(a)(ii) PRINCIPAL DISTRIBUTION
--------------------------------------------------------------------------------------- PREPAYMENTS & PREPAID PREFUNDING SCH. PRIN. INSTALLMENTS ACCT. REMAINDER LIQUIDATIONS SUB. INCREASE SUB RED. --------------------------------------------------------------------------------------- FIXED RATE NOTE 50,055.98 0.00 1,478,901.36 0.00 115,648.40 0.00 ADJUSTABLE RATE NOTE 21,408.48 0.00 1,078,834.88 0.00 65,698.77 0.00 ---------------------------------------------------------------------------------------
SECTION 3.8(a)(v) INSURED PAYMENT FIXED RATE NOTE 0.00 ADJUSTABLE RATE NOTE 0.00 SECTION 3.8(a)(vii) LOAN PURCHASE PRICES FIXED RATE NOTE 74,712.01 ADJUSTABLE RATE NOTE 413,513.50 SUBSTITUTION AMOUNTS FIXED RATE NOTE 0.00 ADJUSTABLE RATE NOTE 0.00 SECTION 3.8(a)(viii) SUBORDINATION REDUCTION AMOUNT FIXED RATE NOTE 0.00 ADJUSTABLE RATE NOTE 0.00 SECTION 3.8(a)(ix) CURRENT REALIZED LOSSES FIXED RATE NOTE 0.00 ADJUSTABLE RATE NOTE 0.00 CUMULATIVE REALIZED LOSSES FIXED RATE NOTE 0.00 ADJUSTABLE RATE NOTE 0.00
SECTION 3.8(a)(x) NUMBER LOAN BALANCE ------ ------------ FIXED RATE NOTE LOANS BOUGHT BACK PURSUANT TO SECTION 2.4 CURRENT 0 0.00 CUMULATIVE 0 0.00 LOANS BOUGHT BACK PURSUANT TO SECTION 2.6 CURRENT 0 0.00 CUMULATIVE 0 0.00 LOANS BOUGHT BACK PURSUANT TO SECTION 4.10 CURRENT 0 0.00 CUMULATIVE 0 0.00 ADJUSTABLE RATE NOTE LOANS BOUGHT BACK PURSUANT TO SECTION 2.4 CURRENT 0 0.00 CUMULATIVE 0 0.00 LOANS BOUGHT BACK PURSUANT TO SECTION 2.6 CURRENT 0 0.00 CUMULATIVE 0 0.00 LOANS BOUGHT BACK PURSUANT TO SECTION 4.10 CURRENT 0 0.00 CUMULATIVE 0 0.00 SECTION 3.8(a)(xi) AVAILABLE FUNDS CAP CARRY-FORWARD AMOUNT FIXED RATE NOTE - - -------------------------------------------------------------------------------- FIRST ALLIANCE MORTGAGE COMPANY MORTGAGE LOAN ASSET BACKED NOTES SERIES 1998-2 ================================================================================ DISTRIBUTION: 20-Nov-98
SECTION 3.8(b)(i) DELINQUENT MORTGAGE LOANS (includes loans in foreclosure and bankruptcy): ----------------------------------------------------- AGGREGATE FIXED RATE NOTE CATEGORY NUMBER LOAN BALANCE PERCENTAGE ----------------------------------------------------- 30-59 DAYS 10 804,814.11 1.26% 60-89 DAYS 2 174,291.45 0.27% 90 + DAYS 4 417,875.43 0.65% ----------------------------------------------------- AGGREGATE ADJUSTABLE RATE NOTE CATEGORY NUMBER LOAN BALANCE PERCENTAGE ----------------------------------------------------- 30-59 DAYS 5 411,996.26 1.50% 60-89 DAYS 2 277,216.39 1.01% 90 + DAYS 5 417,676.52 1.52% ----------------------------------------------------- SECTION 3.8(b)(ii) LOANS IN FORECLOSURE (included in delinquencies above): -------------------------------------------- AGGREGATE NUMBER LOAN BALANCE PERCENTAGE -------------------------------------------- FIXED RATE NOTE 15 1,312,869.22 2.05% -------------------------------------------- ADJUSTABLE RATE NOTE 11 1,007,943.65 3.66% -------------------------------------------- SECTION 3.8(b)(iii) LOANS IN BANKRUPTCY (included in delinquencies above): -------------------------------------------- AGGREGATE NUMBER LOAN BALANCE PERCENTAGE -------------------------------------------- FIXED RATE NOTE 2 206,307.75 0.32% -------------------------------------------- ADJUSTABLE RATE NOTE 0 0.00 0.00% -------------------------------------------- SECTION 3.8(b)(iv) REO PROPERTIES (not included in delinquencies above): -------------------------------------------- AGGREGATE NUMBER LOAN BALANCE PERCENTAGE -------------------------------------------- FIXED RATE NOTE 0 0.00 0.00% -------------------------------------------- ADJUSTABLE RATE NOTE 0 0.00 0.00% -------------------------------------------- SECTION 3.8(b)(vi) BOOK VALUE OF REO PROPERTY FIXED RATE NOTE - ADJUSTABLE RATE NOTE - 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 hereunto duly authorized. First Alliance Mortgage Loan Trust 1998-2 ------------------------------------------ (Registrant) By: First Alliance Mortgage Company --------------------------------------- (Servicer) Date: December 21, 1998 By: /S/ Francisco Nebot ------------------ --------------------------------------- Name: Francisco Nebot ------------------------------------- Executive Vice President and Title: Chief Financial Officer ------------------------------------ -----END PRIVACY-ENHANCED MESSAGE-----