-----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, Bds/KkitUnqqaV7eYu3T0BWd9HKBFXstb8Pdm95cCxDn+ayEnWRsKVbh1ZcmF14H gyrC4ZQjYyab259ipGr0EA== 0001115223-01-000003.txt : 20010409 0001115223-01-000003.hdr.sgml : 20010409 ACCESSION NUMBER: 0001115223-01-000003 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010330 FILED AS OF DATE: 20010402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA MORTGAGE LOAN TRUST 1998-4B CENTRAL INDEX KEY: 0001074270 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: SEC FILE NUMBER: 333-52351-03 FILM NUMBER: 1588647 BUSINESS ADDRESS: STREET 1: C/O ADVANTA MORTGAGE CORP STREET 2: 10790 RANCHO BERNARDO ROAD CITY: SAN DIEGO STATE: CA ZIP: 92127 BUSINESS PHONE: 2156574000 10-K 1 0001.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) of THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended December 31, 2000 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from________________to_______________. Commission file number '333-52351-02 Commission file number '333-52351-03 Commission file number '333-52351-04 ADVANTA Mortgage Loan Trust 1998-4 New York 88-0360305 23-2723382 (State of other jurisdictio (IRS Employer incorporation or organizat Identification No.) c/o Bankers Trust Company 4 Albany Street New York, NY 10015 Registrant's telephone number, including area code: (212) 250-2500 Securities registered pursuant to Section 12(b) of the Act. Title of each class Name of each exchange on which registered: None None Securities registered pursuant to Section 12(g) of the Act: None (Title of class) Indicated by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K ($ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [X] State the aggregate market value of the voting stock held by non-affiliates of registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of specified date within 60 days prior to the date of filing: $433,177,421.5Series 1998-4A $233,228,366.9Series 1998-4B $48,975,596.89Series 1998-4C Documents Incorporated by Reference: Not Applicable PART 1 ITEM 1 - BUSINESS The ADVANTA Mortgage Loan Trust 1998-4, (the "Trust" or "Issuer") is a New York common law trust established as of November 1, 1998, pursuant to a Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") between ADVANTA Mortgage Conduit Services, Inc. as sponsors (the "Sponsor") and ADVANTA Mortgage Corp. USA as Master Servicer (the "Master Servicer") (together, the "Companies") and Bankers Trust Company, acting thereunder not in its individual capacity but solely as trustee (the "Trustee"). The Issuer's only purpose is the issuance of $1,1000,000.00 principal amount of ADVANTA Mortgage Loan Asset-Backed Certificates, Series 1998-4A, Class A, Series 1998-4B, Class B, and Series 1998-4C, Class C Certificates, pursuant to the Pooling and the subordinated residual certificates pursuant to the Pooling and Servicing Agreement. On November 24, 1998, the Sponsor sold $1,100,000.00 aggregate principal amount of mortgage loans (the "Mort- gage Loans"), to the Issuer in exchange for the Certificates, and sold the Certificates pursuant to a public offering, the underwriting of which was co-managed by Morgan Stanley Dean Witter, Lehman Brothers and Prudential Securities Incorporated. The Mortgage Loans and the distributions thereon, along with certain insurance proceeds, certain proceeds obtained on foreclosure and any investment income earned thereon, are the only significant assets of the Issuer. The Certificates represent obligations solely of the Issuer. The Certificates were registered under a Registration Statement (file no. 333-52351) on Form S-3 declared effective on September 1, 1998. ITEM 2 - PROPERTIES The Issuer neither owns nor leases any physical properties. ITEM 3 - LEGAL PROCEEDINGS The Master Servicer is not aware of any material pending legal proceedings involving either the Issuer, the Trustee, the Sponsor or the Master Servicer with respect to the Certificates or the Issuer's property. ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS No matter has been submitted to a vote of the holders of beneficial interests in the Issuer through the solicitation of proxies or otherwise. PART II ITEM 5 - MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCK- HOLDER MATTERS The Trust is not an issuer of common stock in a corporation, although the Certificates represent equity interest that has voting rights. The equity of the Trust consists of the beneficial or ownership interest therein for which, to the best knowledge of the Master Servicer, there is no established public trading market. As of March 4, 1999, there was 1 holder of the Series 1998-4 Class A Certificates, 6 holders of the Series 1998-4 Class B Certificates, and 1 holder of the Series 1998-4 Class C Certificates. The number of holders includes individual participants in security position listings. As of December 26, 2000, 12 monthly distribution had been made to the holders of the Certificates. ITEM 6 - SELECTED FINANCIAL DATA Not applicable. ITEM 7 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS RESULTS OF OPERATION On November 24, 1998, the Issuer issued $650,000,000.00 aggregate principal amount of Class A Certificates having a floating pass-thru rate, $350,000,000.00 aggregate principal amount of Class B Certificates having a floating pass-thru rate, and $100,000,000 aggregate principal amount of Class C Certificates with a floating pass-thru rate which are collateralized by Mortgage Loans. The sale of the Mortgage Loans to the Issuer, the issuance of the Certificates and the simultaneous delivery of the Certificates to the Companies for sale pursuant to a public offering, the underwriting of which was co-managed by Morgan Stanley Dean Wittier Lehman Brothers, Prudential Securities Incorporated has been accounted for as a sale of the Certificates. The value of the Certificates issued by the Issuer equaled the value of the Mortgage Loans conveyed to the Issuer by the Companies, plus funds held in the Prefunding Account (if any) and subsequently used to acquire additional mortgage loans. Accordingly, there was no income, expense, gain or loss resulting from the aforementioned transaction. CAPITAL RESOURCES AND LIQUIDITY The Issuer's primary sources of funds with respect to the Certificates will be receipts of interest on and principal of the Mortgage Loans, along with certain insurance proceeds, certain proceeds obtained on foreclosure and any investment income earned thereon. The respective management's of the Companies believe that the Issuer will have sufficient liquidity and capital resources to pay all amounts on the Certificates as they become due and all other anticipated expenses of the Issuer. The Issuer does not have, nor will it have in the future, any significant source of capital for payment of the Certificates and its operating expenses other than the receipt of interest on and principal of the mortgage loans, certain insurance proceeds and certain proceeds obtained on foreclosure and any payments made by the Certificate Insurer. The Issuer is a limited purpose trust. The Certificates represent obligations solely of the Issuer. ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Not applicable. ITEM 9 - CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE There were no changes of accountants or disagreements on accounting or financial disclosures between the Issuer and its accountants. PART III ITEM 10 - DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT The Issuer does not have any directors or officers. ITEM 11 - EXECUTIVE COMPENSATION Not applicable.See "Item 10-Directors and Executive Officers of the Registrant". ITEM 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets forth (i) the name and address of each entity owning more than 5% of the outstanding principal amount of the ADVANTA Mortgage Loan Certificates, Series 1998-4, Class A ("Class A Certificates"), the name and address of each entity owning more than 5% of the outstanding principal amount of the ADVANTA Mortgage Loan Certificates, Series 1998-4, Class B ("Class B Certificates"), and the name and address of each entity owning more than 5% of the outsanding principal amount of the ADVANTA Mortgage Loan Certificates, Series 1998-4, Class C ("Class C Certificates").; (ii) the principal amount of the Series 1998-4A Class A Certificates, Series 1998-4B Class B Certificates, or Series 1998-4C Class C Certificates and (iii) the percent that the principal amount of the 1998-4 Class A Certificates, 1998-4 Class B or 1998-4 Class C Certificates owned represents of the outstanding principal amount of the Class A Certificates, Class B or Class C Certificates, respectively. The information set forth in the table is based upon information obtained by the Issuer from Depository Trust Company. The Master Servicer is not aware of any Schedules 13D or 13G filed with the Securities and Exchange Commission in respect of the Certificates. Amount Owned (All Dollar Amounts are in Thousands) Name and Address Principal Percent Class A Certificates Boston Safe Deposit & Trust Company C. Holloway, c/o Mellon Bank NA Three Mellon Bank Ctr, Rm 153-3015 Pittsburgh, PA 15259 6 100.00% Class B Certificates Bank of New York Cecile Lamarco 925 Patterson Plank Road Secaucus, NJ 07094 18.57% Bankers Trust Company John Lasher c/o BT Services Tennessee Inc. 648 Grassmere Park Drive Nashville, TN 37211 1 40.00% Chase Manhattan Bank Orma Trim 4 New York Plaza New York, NY 10004 5.71% Citibank, N.A. Marta Hoosain 3800 Citicorp Center Tampa Tampa, FL 33610 25.71% Merrill Lynch, Pierce Fenner & Smith Safekeeping Veronica E. O'Neill 4 Corporate Place Corporate Park 287 Piscataway, NJ 08855 8.57% Class C Certificates Fannie Mae/Investment Participant Contact Not Found 1 100.00% ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS None PART IV ITEM 14 - EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K (a) The following documents are filed as part of this report: 1. Financial Statements: Not applicable. 2. Financial Statement Schedules: Not applicable. 3. Exhibits: As the Issuer was established as of November 1, 1998, the Master Servicer was obligated to prepare an Annual Statement to Certificateholders as to Compliance for the year ended December 31, 2000, and mail such statement to the Certificateholders on or before the last day of March, 2001 and Independent Certified Public Accountants were required to prepare an annual report pertaining to the compliance of the Master Servicer with its servicing obligations pursuant to the Pooling and Servicing Agreement on or before the last day of March, 2001. The Annual Statement to Certificate- holders as to Compliance is included herewith as Exhibit 28.1 and the Annual Independent Certified Public Accountants' Report is included herewith as Exhibit 28.2. The Statement to Certificateholders on December 26, 2000, is included herewith as Exhibit 28.3. Exhibit No. Description *3.1 Certificates of Incorporation of the Companies *3.2 By-laws of the Companies *4 Pooling and Servicing Agreement 28.1 Annual Statement to Certificateholders as to Compliance for the year ended December 31, 2000. 28.2 Annual Independent Certified Public Accountants' Report. 28.3 Report of Management on Compliance with Minimum Servicing Standards. 28.4 Statement to Certificateholders on December 26, 2000. * Incorporated by reference to the Exhibit of the same designation filed with the Issuer's Form S-3 registration statement declared effective September 1, 1998. (b) Reports on Form 8-K. Twelve reports on Form 8-K have been filed by the Issuer during the period covered by this report. Items Reported/Financial Date of Reports on Form 8-K Statements Filed January 25, 2000Monthly Report for the December 1999 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. February 25, 200Monthly Report for the January 2000 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. March 27, 2000Monthly Report for the February 2000 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. April 25, 2000Monthly Report for the March 2000 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. May 25, 2000Monthly Report for the April 2000 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. June 26, 2000Monthly Report for the May 2000 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. July 25, 2000Monthly Report for the June 2000 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. August 25, 2000Monthly Report for the July 2000 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. September 25, 20Monthly Report for the August 2000 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. October 25, 2000Monthly Report for the September 2000 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. November 27, 200Monthly Report for the October 2000 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. December 26, 200Monthly Report for the November 2000 Monthly Period relating to the ADVANTA Mortgage Loan Trust 1998-4A, Certificates Class A, ADVANTA Mortgage Loan Trust 1998-4B, Certificates Class B, and ADVANTA Mortgage Loan Trust 1998-4C, Certificates Class C, issued by the ADVANTA Mortgage Loan Trust 1998-4. (c) See "Item 14(a) (3)-Exhibits". (d) Not applicable. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) 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 Corp., USA, as Master Servicer and on behalf of ADVANTA Mortgage Loan Trust 1998-4 Registrant BY; /s/ H. John Berens H. John Berens Senior Vice President Advanta Mortgage March 30, 2001 INDEX TO EXHIBITS (Item 14(c)) Exhibit # Description *3.1 Certificates of Incorporation of the Companies *3.2 By-laws of the Companies. *4 Pooling and Servicing Agreement 28.1 Annual Statement to Certificateholders as to Compliance for the year ended December 31, 2000 28.2 Annual Independent Certified Public Account- ants' Report. 28.3 Report of Management on Compliance with Minimum Servicing Standards. 28.4 Statement to Certificateholders on December 26, 2000 * Incorporated by reference to the Exhibit of the same designation filed with the Issuer's Form S-3 registration statement declared effective September 1, 1998. EXHIBIT 28.1 March 24, 2000 Bankers Trust Company Attention: Mark McNeill 1761 East St. Andrew Place Santa Ana, CA 92705-4934 RE: Annual Statement as to Compliance Pursuant to that certain Loan Servicing Agreement ("Agreement") dated as of November 1, 1998, relating to ADVANTA Mortgage Loan Trust 1998-4, I, H. John Berens, hereby certify that (I) a review of the activities of the Servicer during the preceding year and the performance under this Agreement has been made under my supervision, and (II) to the best of my knowledge, based on such review, the Servicer has fulfilled all its obligations under this Agreement for such year. Sincerely, BY; /s/ H. John Berens H. John Berens Senior Vice President HJB/pr cc: Mr. James L. Shreero Ms. Denise Desrosiers, Esq.
EXHIBIT 28.2 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To ADVANTA Mortgage Corp. USA: We have examined management's assertion included in the accompanying Report of Management on Compliance with Minimum Servicing Standards, that Advanta Mortgage Corp. USA, an indirect wholly-owned subsidiary of Advanta Corp., complied with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) and that Advanta Mortgage Corp. USA had in effect fidelity bond coverage in the amount of $15 million and errors and omissions coverage in the amount of $5 million per occurrence as of and during the year ended December 31, 2000. Management is responsible for Advanta Mortgage Corp. USA's compliance with minimum servicing standards and for maintaining a fidelity bond and errors and omission policy. Our responsibility is to express an opinion on management's assertion about Advanta Mortgage Corp. USA's compliance based on our examination. Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about Advanta Mortgage Corp. USA's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Advanta Mortgage Corp. USA's compliance with the minimum servicing standards. In our opinion, management's assertion that Advanta Mortgage Corp. USA complied with the aforementioned minimum servicing standards and that Advanta Mortgage Corp. USA had in effect fidelity bond coverage in the amount of $15 million and errors and omissions coverage in the amount of $5 million per occurrence as of and during the year ended December 31, 2000 is fairly stated, in all material respects. BY; /s/ Arthur Andersen LLP Philadelphia, PA March 27, 2001
EXHIBIT 28.3 REPORT OF MANAGEMENT ON COMPLIANCE WITH MINIMUM SERVICING STANDARDS As of and during the year ended December 31, 2000, Advanta Mortgage Corp. USA has complied in all material respects with the minimum servicing standards as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers. As of and during the same period, Advanta Mortgage Corp. USA had in effect fidelity bond coverage in the amount of $15 million and errors and omissions coverage in the amount of $5 million per occurrence. BY; /s/ H. John Berens BY; /s/ James L. Shreero H. John Berens James L. Shreero Senior Vice President Senior Vice President Loan Servicing Officer and Chief Financial Officer
EXHIBIT 28.4 ADVANTA Mortgage Loan Trust 1998-4A Statement to Certificateholders
Prior Original Principal Total Realized Class Face Value Balance Interest Principal Distribution Losses A 650,000,000. 454,807,600. 2,680,93 7,309,394 9,990,327.16 A Certificate 105,2 105,241.46 Totals 650,000,000. 454,807,600. 2,786,17 7,309,394 10,095,568.62
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A 447,498,206. 7.317500% 7.347500% A Certificate NA NA Totals 447,498,206.03
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A 00755WGC4 699.704000 4.124512 11.245222 15.369734 688.458778 A Certificate 0.000000 0.161910 0.000000 0.161910 0.000000
Delinquent Loan Information:
90+ Days Loans Loans 30-59 60-89 excldg f/c,REO in in Days Days & Bkrptcy Bankruptcy REO Trust A Principal Balanc 13,302,876.22 4,154,133.89 1,795,444.58 12,313,234.16 5,023,013.13 % of Pool Balanc 2.81695% 8.79660% 0.38019% 2.60739% 1.06365% Number of Loans 246 67 29 203 84 % of Loans 3.25742% 0.88718% 0.38400% 2.68803% 1.11229% Loans in Foreclosure Trust A Principal Balanc 19,004,411.39 % of Pool Balanc 4.02427% Number of Loans 320 % of Loans 4.23729%
General Mortgage Loan Information:
Trust A Beginning Aggregate Mortgage Loan Balance 479,493,108.22 Prefunding 0.00 Principal Reduction 7,248,682.39 Ending Aggregate Mortgage Loan Balance 472,244,425.83 Beginning Aggregate Mortgage Loan Count 7640 Ending Aggregate Mortgage Loan Count 7552 Current Weighted Average Coupon Rate 9.521567% Next Weighted Average Coupon Rate 9.517648%
Mortgage Loan Principal Reduction Information:
Trust A Scheduled Principal 634,038.26 Curtailments 224,174.26 Prepayments 5,496,871.16 Repurchases 0.00 Substitutions 0.00 Liquidation Proceeds 893,598.71 Other Principal 0.00 Less: Realized Losses 347,948.25 Total Principal Reduction 7,596,630.6
Servicer Information:
Trust A Accrued Servicing Fee for the Current Period 199,788. Less: Amounts to Cover Interest Shortfalls 7,084.39 Less: Delinquent Service Fees 61,728 Collected Servicing Fees for Current Period: 130,975. Advanced Principal N/A Advanced Interest 1,168,975.6
Other Scheduled Interest Available Available Funds Prepayment Unscheduled Principal Carry Funds Cap Cap Carry Principal Principal Distribution Forward Current Forward Class Distributed Distributed Amount Amount Amount Amount Class A 5,496,87 1,117,77 6,900,73 Total 5,496,87 1,117,77 6,900,73 Applied Realized Loss Amount Class A - - Total -
Prior Current Has a Remaining Over- Accelerated Extra Over Trigger Event Pre-Funded Collateral Principal Principal Collateral Occurred Amount Amount Distributed Distributed Amount Trust A NO 0.00 24,685,507.91 408,660.14 0.00 24,746,219.80 Specified Over- Over- Collateral Collateral Deficit Amount Amount Trust A 24,746,219.80 0.00
Trust A Insured Payment 0.00 Pool Rolling six month delinquency rate 0.039836 Pool Cumulative Realized Losses - Average of 12 preceeding remittance periods 0.00% Pool Cumulative Realized Losses - Percentage of the original aggregate loan balance 0.00% Book Value of REO loans 6,103,480.37 Cumulative Number of Mortgage loans repurchased to date 11 Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 332,539.96 Unreimbursed Delinquent/Servicing Advances Paid Back to Certificateholder This Period 0.00 Unremibursed Delinquent/Servicing Advances still Outstanding 0.00
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 2,573,900.58 Principal Collected: 6,355,083.68 Insurance Proceeds Received: - Net Liquidation Proceeds: 545,650.46 Delinquency Advances on Mortgage Interest: 1,168,975.67 Delinquency Advances on Mortgage Principal NA Repurchase and Substitution Amounts: - Trust Termination Proceeds: - Investment Earnings on Note Account: 7,358.40 Capitalized Interest Requirement: - Capitalized Interest Fund Earnings 0.00 Capitalized Interest Account 0.00 Investment Earnings on Pre-Funding Account 0.00 Unreimbursed Delq/Servicing Advances Paid Back To CertificateH - Sum of the Above Amounts: 10,650,968.79 LESS: Servicing Fees (including PPIS): 138,060.12 Non Recoverable Advance 1,082.55 Indenture Trustee Fees: 2,797.04 Owner Trustee Fees: 277.78 Insurance Premiums: 49,270.82 Reimbursement of Delinquency Advances/Servicing Advances 332,539.96 Total Reductions to Available Funds Amount: 524,028.27 Total Available Funds: 10,126,940.52
EXHIBIT 1 ADVANTA Mortgage Loan Trust 1998-4B Statement to Certificateholders
Original Prior Face Principal Class Value Balance Interest Principal Total B 350,000,000. 246,443,951. 1,452,70 4,527,956 5,980,657.86 B Certificate - Totals 350,000,000. 246,443,951. 1,452,70 4,527,956 5,980,657.86
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next B 241,915,994. 7.317500% 7.347500% B Certificate NA NA Totals 241,915,994.67
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance B 00755WGD2 704.125574 4.150576 12.937018 17.087594 691.188556 B Certificate 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 Bankruptcy REO Trust B Principal Balanc 6,845,214.28 1,308,836.51 772,730.71 6,840,871.04 3,400,095.18 % of Pool Balanc 2.68220% 0.51285% 0.30278% 2.68050% 1.33228% Number of Loans 129 26 14 115 60 % of Loans 3.78632% 0.76313% 0.41092% 3.37540% 1.76108% Loans in Foreclosure Trust B Principal Balanc 11,494,307.00 % of Pool Balanc 4.50388% Number of Loans 176 % of Loans 5.16584%
General Mortgage Loan Information:
Trust B Beginning Aggregate Mortgage Loan Balance 259,646,981.11 Subsequent Mortgage Loans Added This Period 0.00 Principal Reduction 4,438,213.26 Ending Aggregate Mortgage Loan Balance 255,208,767.85 Beginning Aggregate Mortgage Loan Count Ending Aggregate Mortgage Loan Count Current Weighted Average Coupon Rate 9.517887% Next Weighted Average Coupon Rate 9.505847%
Mortgage Loan Principal Reduction Information:
Trust B Scheduled Principal 318,781.38 Curtailments 19,423.43 Prepayments 3,332,509.27 Repurchases 0.00 Substitutions 0.00 Liquidation Proceeds 767,499.18 Other Principal 0.00 Less: Realized Losses 384,062.37 Total Principal Reduction 4,822,275.6
Servicer Information:
Trust B Accrued Servicing Fee for the Current Period 108,186. Less: Amounts to Cover Interest Shortfalls 2,674.97 Less: Delinquent Service Fees 32,824 Collected Servicing Fees for Current Period: 72,686 Advanced Principal N/A Advanced Interest 629,290.
Other Scheduled Interest Available Available Funds Prepayment Unscheduled Principal Carry Funds Cap Cap Carry Principal Principal Distribution Forward Current Forward Class Distributed Distributed Amount Amount Amount Amount Class B 3,332,50 786,9 4,054,15 - Total 3,332,50 786,9 4,054,15 Unpaid Realized Loss Amount Class B - -
Has a Remaining Over- Accelerated Extra Over Trigger Event Pre-Funded Collateral Principal Principal Collateral Occurred Amount Amount Distributed Distributed Amount Trust B NO 0.00 13,203,030.10 473,805.45 0.00 13,292,773.18 Specified Over- Over- Collateral Collateral Deficit Amount Amount Trust B 13,324,873.10 0.00
Trust B Insured Payment 0.00 Pool Rolling six month delinquency rate 0.05 Pool Cumulative Realized Losses - Average of 12 preceeding remittance periods 0.00% Pool Cumulative Realized Losses - Percentage of the original aggregate loan balance 0.00% Book Value of REO loans 4,099,151.17 Cumulative Number of Mortgage loans repurchased to date 8 Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 0.00 Unreimbursed Delinquent/Servicing Advances Paid Back to Certificateholder This Period 0.00 Unreimbursed Delinquent/Servicing Advances Still Outstanding 245,533.
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 1,397,294.07 Principal Collected: 3,670,714.08 Insurance Proceeds Received: - Net Liquidation Proceeds: 383,436.81 Delinquency Advances on Mortgage Interest: 629,290.39 Delinquency Advances on Mortgage Principal NA Repurchase and Substitution Amounts: - Trust Termination Proceeds: - Investment Earnings on Note Account: 4,206.30 Capitalized Interest Requirement: 0.00 Capitalized Interest Account Earnings 0.00 Capitalized Interest Account 0.00 Reversal of Realized Loss Amount - Unreimbursed Delq/Servicing Advances Paid Back T 0.00 Sum of the Above Amounts: 6,084,941.65 LESS: Servicing Fees (including PPIS): 75,361.96 Non-Recoverable Advance 431.35 Indenture Trustee Fees: 1,514.61 Owner Trustee Fees: 277.78 Insurance Premiums: 26,698.09 Reimbursement of Delinquency Advances/Servicing - Total Reductions to Available Funds Amount: 104,283.79 Total Available Funds: 5,980,657.8
EXHIBIT 1 ADVANTA Mortgage Loan Trust 1998-4C Statement to Certificateholders
Original Prior Face Principal Class Value Balance Interest Principal Total C 100,000,000. 59,086,543 341,1 5,358,935 5,700,090.73 C Certificate - Totals 100,000,000. 59,086,543 341,1 5,358,935 5,700,090.73
Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next C 53,727,607 7.167500% 7.197500% C Certificate NA NA Totals 53,727,607.89
Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance C 00755WGE0 590.865436 3.411550 53.589357 57.000907 537.276079 C Certificate 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 Bankruptcy REO Trust C Principal Balanc 1,716,886.95 864,456.83 42,212.55 2,322,971.80 882,813.07 % of Pool Balanc 2.93011% 1.47532% 0.07204% 3.96447% 1.50664% Number of Loans 20 10 2 28 10 % of Loans 3.04414% 1.52207% 0.30441% 4.26180% 1.52207% Loans in Foreclosure Trust C Principal Balanc 3,934,821.05 % of Pool Balanc 6.71532% Number of Loans 48 % of Loans 7.30594%
General Mortgage Loan Information:
Trust C Beginning Aggregate Mortgage Loan Balance 63,953,628.79 Prefunding N/A Principal Reduction 5,358,935.70 Ending Aggregate Mortgage Loan Balance 58,594,693.09 Beginning Aggregate Mortgage Loan Count 705 Ending Aggregate Mortgage Loan Count 657 Current Weighted Average Coupon Rate 10.689428% Next Weighted Average Coupon Rate 10.648999%
Mortgage Loan Principal Reduction Information:
Trust C Scheduled Principal 23,486.91 Curtailments 8,361.75 Prepayments 4,525,782.30 Repurchases 0.00 Substitutions 0.00 Liquidation Proceeds 801,304.74 Other Principal 0.00 Less: Realized Losses 229,380.97 Total Principal Reduction 5,588,316.6
Servicer Information:
Trust C Accrued Servicing Fee for the Current Period 26,647 Less: Amounts to Cover Interest Shortfalls 1,128.21 Less: Delinquent Service Fees 8,356 Collected Servicing Fees for Current Period: 17,162 Advanced Principal N/A Advanced Interest 175,770.
Other Scheduled Interest Available Available Funds Prepayment Unscheduled Principal Carry Funds Cap Cap Carry Principal Principal Distribution Forward Current Forward Class Distributed Distributed Amount Amount Amount Amount Class C 4,525,78 809,6 5,129,55 . . Unpaid Realized Loss Amount Class C - -
Prior Current Has a Over- Accelerated Amounts Over Trigger Event Collateral Principal From Reserve Collateral Occurred Amount Distributed Fund Amount Trust C NO 4,867,085.20 197,395.44 31,985.53 4,867,085.20 Specified Over- Over- Collateral Collateral Deficit Amount Amount Trust C 4,867,085.20 0.00
Trust C Insured Payment 0.00 Pool Rolling six month delinquency rate 0.07 Pool Cumulative Realized Losses - Average of 12 preceeding remittance periods 0.00% Pool Cumulative Realized Losses - Percentage of the original aggregate loan balance 0.00% Book Value of REO loans 1,015,925.62 Cumulative Number of Mortgage loans repurchased to date 3 Unreimbursed Delinquent/Servicing Advances Paid Back to Servicer This Period 0.00 Unreimbursed Delinquent/Servicing Advances Paid Back to Certificateholder This Period 0.00 Unreimbursed Delinquent/Servicing Advances Still Outstanding 93,563.22
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 385,563.27 Principal Collected: 4,557,630.96 Insurance Proceeds Received: - Net Liquidation Proceeds: 571,923.77 Delinquency Advances on Mortgage Interest: 175,770.17 Delinquency Advances on Mortgage Principal NA Repurchase and Substitution Amounts: - Trust Termination Proceeds: - Investment Earnings on Note Account: 3,973.20 Sum of the Above Amounts: 5,694,861.37 LESS: Servicing Fees (including PPIS): 18,291.04 Non-Recoverable Advance 182.28 Indenture Trustee Fees: 373.06 Owner Trustee Fees: 277.78 Insurance Premiums: 7,632.01 Reimbursement of Delinquency Advances/Servicing - Total Reductions to Available Funds Amount: 26,756.17 Total Available Funds: 5,668,105.2
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