-----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, G8sPflcLl+UVqop0RGORtsrH9dGY1LWNieIZ1c1vMO4NA/gaISmGEX4Xb1Gd/cfI YZSg38obUCletzyplkBVng== 0001070168-99-000005.txt : 19990106 0001070168-99-000005.hdr.sgml : 19990106 ACCESSION NUMBER: 0001070168-99-000005 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981231 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA MORTGAGE LOAN TRUST 1998-3 CENTRAL INDEX KEY: 0001070168 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-52351-01 FILM NUMBER: 99500595 BUSINESS ADDRESS: STREET 1: ADVANTA MORTGAGE CONDUIT SERVICES INC STREET 2: 16875 WEST BERNARDO DR CITY: SAN DIEGO STATE: CA ZIP: 92127 BUSINESS PHONE: 6196741800 MAIL ADDRESS: STREET 1: C/O ADVANTA MORTGAGE CONDUIT SER INC STREET 2: 16875 WEST BERNARDO DR 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 Mortgage Loan Trust 1998-3 New York 33-61474-07 "Pending" 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 Home Equity Loan Pass-Through Certificates, Series 1998-3 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 September 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 1998-3, Class A issued by the ADVANTA Mortgage Loan Trust 1998-3. EXHIBIT INDEX Exhibit 1. Monthly Report for the November, 1998 Monthly Period relating to the Mortgage Loan Asset-Backed Certificates, Series 1998-3, Class A issued by the ADVANTA Mortgage Loan Trust 1998-3. 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 1998-3 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 1998-3 Statement to Certificateholders
Original Prior Face Principal Class Value Balance Interest Principal Total A-1 500,000,000. 493,140,648. 2,420,70 5,793,260 8,213,964.30 A-2 500,000,000. 492,103,248. 2,447,18 5,725,439 8,172,627.59 RS - Totals 1,000,000,000. 985,243,897. 4,867,89 11,518,699. 16,386,591.89
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A-1 487,347,388. 5.355000% 5.917500% A-2 486,377,809. 5.425000% 5.987500% RS 0.000000% 0.000000% Totals 973,725,197.94
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A-1 00755WGA8 986.281298 4.841408 11.586521 16.427929 974.694777 A-2 00755WGB6 984.206497 4.894377 11.450878 16.345255 972.755619 RS AM980103 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 1 Principal Balanc 12,028,576 4,289,98 480,76 3,395,259 % of Pool Balanc 2.42070% 0.86334% 0.09675% 0.00000% 0.68328% Number of Loans 132 44 5 0 39 % of Loans 2.66559% 0.88853% 0.10097% 0.00000% 0.78756% Group 2 Principal Balanc 11,480,788 3,706,40 960,77 2,143,523 % of Pool Balanc 2.33991% 0.75541% 0.19582% 0.00000% 0.43687% Number of Loans 215 63 18 0 32 % of Loans 2.89017% 0.84689% 0.24197% 0.00000% 0.43017% Loans in Bankrup Group 1 859,724.40 Group 2 1,580,611.91 2,440,336.31
General Mortgage Loan Information:
Group I Group II Total Beginning Aggregate Mortgage Loan Balance 501,191,088. 494,969,883. 996,160,972. Prefunding Principal Reduction 4,285,932 4,318,72 8,604,661 Ending Aggregate Mortgage Loan Balance 496,905,155. 490,651,154. 987,556,310. Beginning Aggregate Mortgage Loan Count 4990 7503 12493 Ending Aggregate Mortgage Loan Count 4952 7439 12391 Current Weighted Average Coupon Rate 10.013661% 9.953372% 9.983705% Next Weighted Average Coupon Rate 10.014467% 9.949001% 9.981941%
Mortgage Loan Principal Reduction Information:
Group I Group II Total Scheduled Principal 273,30 802,8 1,076,165 Curtailments Prepayments 3,941,060 3,515,86 7,456,928 Repurchases/Substitutions 71,4 71,4 Liquidation Proceeds Other Principal Less: Realized Losses Less: Delinquent Principal not Advanced by Servicer Total Principal Reduction 4,285,932 4,318,72 8,604,661
Servicer Information:
Group I Group II Total Accrued Servicing Fee for the Current Period 208,82 206,2 415,06 Less: Amounts to Cover Interest Shortfalls 2, 3,0 Less: Delinquent Service Fees 34,1 37,8 72,0 Collected Servicing Fees for Current Period: 174,47 165,4 339,97 Advanced Principal 12,2 44,2 56,5 Advanced Interest 685,60 772,3 1,457,923
Other Subordination Prepayment Unscheduled Increase Applied Realized Loss Unpaid Principal Principal Principal Realized Loss Amortization Realized Loss Class Distributed Distributed Distributed Amount Amount Amount A-1 3,750,41 35,9 A-2 3,706,51 35,5 RS Total 7,456,92 71,5
Has a Senior Prior Supplemental Extra Extra Trigger Event Enhancement Subordinated Interest Principal Principal Occurred Percentage Amount Amount Dist. Amt. Distributed Group I NO N/A 8,050,43 1,507,32 1,507,327 Group II NO N/A 2,866,63 1,406,70 1,406,709 Total 10,917,075 2,914,03 2,914,037 Current Target Subordinated Overcollateralization Amount Amount Group I 9,557,767.37 26,289,224.05 Group II 4,273,345.35 17,750,000.82 Total 13,831,112.72 44,039,224.87
Group I Group II Total Insured Payment 0.00 0.00 0.00 Pool Rolling six month delinquency rate N/A N/A N/A Pool Cumulative 12 months loss ratio - average balance N/A N/A N/A Pool Cumulative 12 months loss ratio - current balance 0.00% 0.00% 0.00% 60+ day Delinquent loans (excluding f/c, reo & bankruptcy) 4,770,755.26 4,667,182.89 9,437,938.15 Book Value of REO loans 0.00 0.00 0.00
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 6,757,858.17 Principal Collected: 8,476,712.98 Insurance Proceeds Received: - Net Liquidation Proceeds: - Delinquency Advances on Mortgage Interest: 1,457,923.88 Delinquency Advances on Mortgage Principal 56,520.00 Substitution Amounts: 71,428.76 Trust Termination Proceeds: - Investment Earnings on Certificate Account: 12,366.47 Capitalized Interest Requirement: - Capitalized Interest Fund Earnings 0.00 Capitalized Interest Account 0.00 Investment Earnings on Pre-Funding Account 0.00 Pre-Funding Account: - Sum of the Above Amounts: 16,832,810.26 LESS: Servicing Fees (including PPIS): 343,034.92 Dealer Reserve: - Trustee Fees: 5,810.93 Insurance Premiums: 97,372.52 Reimbursement of Delinquency Advances/Servicing - Total Reductions to Available Funds Amount: 446,218.37 Total Available Funds: 16,386,591.
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