-----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, QdY70/kuAbIxOvkiytkNYZmq13rr7B5DeQsbzxWsL6EuenzIpTfkWGw6YpMSUKHB 6LQIjzwfDf7tuYG4uKvg8g== 0001095226-99-000007.txt : 19991102 0001095226-99-000007.hdr.sgml : 19991102 ACCESSION NUMBER: 0001095226-99-000007 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19991031 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA MORTGAGE LOAN TRUST 1999-1 CENTRAL INDEX KEY: 0001080337 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-52351-05 FILM NUMBER: 99738961 BUSINESS ADDRESS: STREET 1: C/O ADVANTA MORTGAGE CORP USA STREET 2: 10790 RANCHO BERNARDO ROAD CITY: SAN DIEGO STATE: CA ZIP: 92127 BUSINESS PHONE: 2156574000 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: October 25, 1999 ADVANTA Mortgage Loan Trust 1999-1 New York 333-52351-05 Pending 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 September 1999 Monthly Period of the Trust in respect of the Mortgage Loan Asset-Backed Certificates, Series 1999-1 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 March 1, 1999 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 September 1999 Monthly period relating to the Mortgage Loan Asset- Backed Certificates Series 1999-1, Class A issued by the ADVANTA Mortgage Loan Trust 1999-1. EXHIBIT INDEX Exhibit 1. Monthly Report for the September 1999 Monthly Period relating to the Mortgage Loan Asset-Backed Certificates, Series 1999-1, Class A issued by the ADVANTA Mortgage Loan Trust 1999-1. 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 1999-1 BY: ADVANTA Mortgage Corp., USA BY: /s/ H. John Berens H. John Berens Senior Vice President Advanta Mortgage October 28, 1999 EXHIBIT 1
ADVANTA Mortgage Loan Trust 1999-1 Statement to Certificateholders Distribution in Dollars - Current Period Prior Original Principal Total Realized Class Face Value Balance Interest Principal Distribution Losses A-1 125,000,000 90,977,3 454,1 7,056,701 7,510,82 A-2 82,000,00 82,000,0 408,6 408,6 A-3 44,000,00 44,000,0 223,6 223,6 A-4 83,000,00 83,000,0 435,7 435,7 A-5 26,000,00 26,000,0 145,8 145,8 A-6 40,000,00 40,000,0 211,0 211,0 A-7 400,000,000 357,714,12 1,572,65 11,400,904. 12,973,554 B BS R Totals 800,000,000 723,691,44 3,451,64 18,457,605. 21,909,251
Current Deferred Principal Class Interest Balance A-1 83,920,612.04 A-2 82,000,000.00 A-3 44,000,000.00 A-4 83,000,000.00 A-5 26,000,000.00 A-6 40,000,000.00 A-7 346,313,222.21 B - BS - R - Totals 705,233,834.25
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face
Orig. Principal Prior Period Period (with Notional) Principal Class Starting Ending Method Cusip Balance Balance A-1 F-30/360 00755WGF7 125,000,000. 727.818 A-2 F-30/360 00755WGG5 82,000,000 1,000.0000 A-3 F-30/360 00755WGH3 44,000,000 1,000.0000 A-4 F-30/360 00755WGJ9 83,000,000 1,000.0000 A-5 A-30/360 00755WGK6 26,000,000 1,000.0000 A-6 F-30/360 00755WGL4 40,000,000 1,000.0000 A-7 9/27/99 10/24/99 A-Act/360 00755WGM2 400,000,000. 894.285 B BS R
Current Total Principal Class Interest Principal Distribution Balance A-1 3. 56. 60.0 671.364896 A-2 4. 4.9 1,000.000000 A-3 5. 5.0 1,000.000000 A-4 5. 5.2 1,000.000000 A-5 5. 5.6 1,000.000000 A-6 5. 5.2 1,000.000000 A-7 3. 28. 32.4 865.783056 B - BS - R -
Distribution in Dollars - To Date
Original Unscheduled Scheduled Total Total Class Face Value Interest Principal Principal Principal Distribution A-1 125,000,000 3,844,9 37,052,765 4,026,622 41,079,387 44,924,352. A-2 82,000,00 2,860,4 2,860,433 A-3 44,000,00 1,565,6 1,565,666 A-4 83,000,00 3,050,2 3,050,250 A-5 26,000,00 1,020,7 1,020,716 A-6 40,000,00 1,477,0 1,477,000 A-7 400,000,000 13,115,8 51,763,744 1,923,033 53,686,777 66,802,617. B BS R 910, 910,90 Totals 800,000,000 27,845,7 88,816,509 5,949,656 94,766,165 122,611,942.
Current Realized Deferred Principal Class Losses Interest Balance A-1 83,920,612.04 A-2 82,000,000.00 A-3 44,000,000.00 A-4 83,000,000.00 A-5 26,000,000.00 A-6 40,000,000.00 A-7 346,313,222.21 B - BS - R - Totals 705,233,834.25
Interest Detail
Pass Prior Principal Non- Prior Unscheduled Through (with Notional) Accrued Supported Unpaid Interest Class Rate Balance Interest Interest SF Interest Adjustments A-1 5.99000% 90,977,3 454,1 A-2 5.98000% 82,000,0 408,6 A-3 6.10000% 44,000,0 223,6 A-4 6.30000% 83,000,0 435,7 A-5 6.73000% 26,000,0 145,8 A-6 6.33000% 40,000,0 211,0 A-7 5.65250% 357,714,12 1,572,65 B BS R Totals 723,691,44 3,451,64
Paid or Current Optimal Deferred Unpaid Class Interest Interest Interest A-1 454,1 454, - A-2 408,6 408, - A-3 223,6 223, - A-4 435,7 435, - A-5 145,8 145, - A-6 211,0 211, - A-7 1,572,6 1,572,6 - B - BS - R - Totals 3,451,6 3,451,6 -
Collection Account Report
Summary Adjustable Fixed Total Principal Collections 10,160,596. 5,954,21 16,114,810. Principal Withdrawals Principal Other Accounts TOTAL PRINCIPAL 10,160,596. 5,954,21 16,114,810. Interest Collected 2,960,326 3137308.88 6,097,635 Interest Withdrawals ( Interest Other Accounts 7,5 5202.94 12,7 Fees (154,90 (160,8 (315,78 TOTAL INTEREST 2,812,958 2,981,48 5,794,440 TOTAL AVAILABLE TO CERTIFICATEHOLDERS 12,973,554. 8,935,69 21,909,251.
Principal - Collections
Adjustable Fixed Total Scheduled Principal 284,92 611,4 896,38 Curtailments Prepayments in Full 9,713,295 5,270,49 14,983,794. Repurchased Principal Amounts 72,2 72,2 Substitution Principal Amount Liquidations 192,95 192,95 Insurance Principal Other Principal Total Realized Loss of Principal (30,5 (30,5 TOTAL PRINCIPAL COLLECTED 10,160,596. 5,954,21 16,114,810.
Collection Account Report
Principal - Withdrawals Adjustable Fixed Total SPACE INTENTIONALLY LEFT BLANK
Principal - Other Accounts Adjustable Fixed Total Amounts Remaining in Pre-Funding Account
Interest - Collections Adjustable Fixed Total Scheduled Interest 2,998,429 3,175,42 6,173,851 Repurchased Interest Substitution Interest Amount Liquidation Interest 1,4 1,4 Insurance Interest Other Interest Delinquent Interest (816,69 (836,6 (1,653,327 Interest Advanced 777,12 797,8 1,575,007 Prepayment Interest Shortfalls (1,6 (2, (4,6 Compensating Interest 1,6 2, 4,6 Civil Relief Act Shortfalls TOTAL INTEREST COLLECTED 2,960,326 3,137,30 6,097,635
Collection Account Report
Interest - Withdrawals Adjustable Fixed Total Current Nonrecoverable Advances TOTAL INTEREST WITHDRAWALS
Interest - Other Accounts Adjustable Fixed Total Capitalized Interest Requirement Pre-Funding Account Earnings Certificate Account Earnings 7,5 5, 12,7 Capitalized Interest Account
Interest - Fees Adjustable Fixed Total Current Servicing Fees 112,15 116,5 228,74 Trustee Fee Amount 2,3 2, 4,7 Insurance Premium Amount 40,4 41,8 82,2 TOTAL FEES 154,90 160,8 315,78
Credit Enhancement Report
Accounts Adjustable Fixed Total SPACE INTENTIONALLY LEFT BLANK
Insurance Adjustable Fixed Total Total Insured Payments
Structural Features Adjustable Fixed Total Specified Overcollateralization Amount 25,800,000.00 14,000,000.00 39,800,000.00 Current Overcollateralization Amount 7,635,536.82 7,948,183.81 15,583,720.63 Overcollateralization Deficiency Amount 19,404,771.52 7,154,302.88 26,559,074.40 Overcollateralization Deficit Amount Overcollateralization Increase Amount 1,240,308.34 1,102,486.69 2,342,795.03 Overcollateralization Reduction Amount Components of Change in Overcollateralization* Excess Interest Generated by Pool 1,232,766.78 1,097,283.75 2,330,050.53 Certificate Account Interest Earnings 7,541.56 5,202.94 12,744.50 Additional Principal TOTAL 1,240,308 1,102,486.69 2,342,795.03 *(NOTE: If at specified amount, components will not equal increase amount)
Collateral Report
Collateral Adjustable Fixed Total Loan Count: Original 3,794 5,598 9,392 Prior 3,950 5,956 9,906 Prefunding Scheduled Paid Offs Full Voluntary Prepayments (86) (88) (174) Repurchases Liquidations Current 3,863 5,867 9,730 Principal Balance Original 358,638,192.19 354,898,989.56 713,537,181.75 Prior 364,139,928.02 372,823,010.53 736,962,938.55 Prefunding Scheduled Principal (284,923.58) (611,465.67) (896,389.25) Partial and Full Voluntary Prepayments (9,713,295 (5,270,49 (14,983,794. Repurchases (72,2 (72,2 Liquidations (192,95 (192,95 Current 353,948,759. 366,868,795. 720,817,554.
Prefunding Adjustable Fixed Total PRE-FUNDING ACCOUNT Original Pre-Funded Amount 41,361,807.81 45,101,010.44 86,462,818.25 Balance of Subsequent Mortgage Loans Added This Period Pre-Funding Account Earnings Withdrawal Account Earnings Pre-Funding Account Ending Balance CAPITALIZED INTEREST ACCOUNT Original Capitalized Interest Deposit 431,226.00 473,750.00 904,976.00 Capitalized Interest Requirement Capitalized Interest Account Earnings Capitalized Interest Account Ending Balance
Collateral Report
Characteristics Adjustable Fixed Total Weighted Average Coupon Original 9.990174% 10.330135% 10.159264% Weighted Average Coupon Prior 9.890953% 10.233500% 10.064122% Weighted Average Coupon Current 9.885970% 10.222733% 10.056335% Weighted Average Months to Maturity Original 351 252 302 Weighted Average Months to Maturity Prior 345 249 296 Weighted Average Months to Maturity Current 344 248 295 Weighted Average Remaining Amortization Term Original 351 298 325 Weighted Average Remaining Amortization Term Prior 346 290 317 Weighted Average Remaining Amortization Term Current 345 289 316 Weighted Average Seasoning Original 3.99 3.76 3.87 Weighted Average Seasoning Prior 8.57 8.35 8.46 Weighted Average Seasoning Current 9.54 9.35 9.44 Note: Original information refers to deal issue
Collateral Report
Arm Characteristics Adjustable Fixed Total Weighted Average Margin Original 6.149% Weighted Average Margin Prior 6.000% Weighted Average Margin Current 6.000% Weighted Average Max Rate Original 16.848% 10.330% Weighted Average Max Rate Prior 17.000% 10.000% Weighted Average Max Rate Current 17.000% 10.000% Weighted Average Min Rate Original 9.093% 9.830% Weighted Average Min Rate Prior 9.000% 10.000% Weighted Average Min Rate Current 9.000% 10.000% Weighted Average Cap Up Original 1.103% Weighted Average Cap Up Prior 1.000% Weighted Average Cap Up Current 1.000% Weighted Average Cap Down Original 1.103% Weighted Average Cap Down Prior 1.000% Weighted Average Cap Down Current 1.000% Note: Original information refers to deal issue
Servicing Fees / Advances Adjustable Fixed Total Current Servicing Fees 112,15 116,5 228,74 Delinquent Servicing Fees 39,5 38,7 78,3 TOTAL SERVICING FEES 151,72 155,3 307,06 Total Servicing Fees 151,72 155,3 307,06 Compensating Interest (1,6 (2, (4,6 Delinquent Servicing Fees (39,5 (38,7 (78,3 COLLECTED SERVING FEES 110,49 113,6 224,12 Prepayment Interest Shortfall 1,6 2, 4,6 Total Advanced Interest 777,12 797,8 1,575,007 Current Nonrecoverable Advances 154.67 154.67 Unreimbursed Delq / Servicing Advances Paid to Servicer
Additional Collateral Information Adjustable Fixed Total Weighted Average Coupon Next 9.876530% 10.215068% 10.048833%
Delinquency Report - Total
Current 1 Payment 2 Payments 3+ Payments Total DELINQUENT Balance 16,852,638 5,757,142 2,215,65 24,825,433. % Balance 2.34% 0.80% 0.31% 3.45% # Loans % # Loans 2.84% 0.87% 0.44% 4.15% FORECLOSURE Balance 262, 558,8 1,015,791 18,510,474 20,347,598. % Balance 0.04% 0.08% 0.14% 2.57% 2.83% # Loans % # Loans 0.03% 0.08% 0.17% 2.61% 2.89% BANKRUPTCY Balance 2,322,2 310,5 614,34 4,084,85 7,332,026 % Balance 0.32% 0.04% 0.09% 0.57% 1.02% # Loans % # Loans 0.31% 0.03% 0.08% 0.65% 1.07% REO Balance 557,8 557,83 % Balance 0.00% 0.00% 0.00% 0.08% 0.08% # Loans % # Loans 0.00% 0.00% 0.00% 0.11% 0.11% TOTAL Balance 2,584,7 17,722,057 7,387,279 25,368,815 53,062,893. % Balance 0.36% 2.46% 1.03% 3.53% 7.38% # Loans % # Loans 0.34% 2.95% 1.12% 3.81% 8.22% Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+
Delinquency Report - Fixed Group
Current 1 Payment 2 Payments 3+ Payments Total DELINQUENT Balance 7,381,98 2,814,231 959,0 11,155,221. % Balance 2.01% 0.77% 0.26% 3.04% # Loans % # Loans 2.73% 0.77% 0.41% 3.91% FORECLOSURE Balance 144, 277,0 515,88 6,300,75 7,238,452 % Balance 0.04% 0.08% 0.14% 1.72% 1.98% # Loans % # Loans 0.03% 0.07% 0.15% 1.87% 2.12% BANKRUPTCY Balance 1,382,6 182,9 500,05 2,100,68 4,166,347 % Balance 0.38% 0.05% 0.14% 0.57% 1.14% # Loans % # Loans 0.34% 0.03% 0.12% 0.58% 1.07% REO Balance - 353,7 353,77 % Balance 0.00% 0.00% 0.00% 0.10% 0.10% # Loans - % # Loans 0.00% 0.00% 0.00% 0.12% 0.12% TOTAL Balance 1,527,4 7,841,99 3,830,169 9,714,22 22,913,798. % Balance 0.42% 2.14% 1.05% 2.65% 6.26% # Loans % # Loans 0.37% 2.83% 1.04% 2.98% 7.22% Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+
Delinquency Report - Adjustable Group
Current 1 Payment 2 Payments 3+ Payments Total DELINQUENT Balance 9,470,65 2,942,911 1,256,64 13,670,211. % Balance 2.68% 0.83% 0.36% 3.87% # Loans % # Loans 3.00% 1.04% 0.49% 4.53% FORECLOSURE Balance 117, 281,8 499,90 12,209,719 13,109,145. % Balance 0.03% 0.08% 0.14% 3.45% 3.70% # Loans % # Loans 0.03% 0.10% 0.21% 3.73% 4.07% BANKRUPTCY Balance 939, 127,5 114,29 1,984,16 3,165,678 % Balance 0.27% 0.04% 0.03% 0.56% 0.90% # Loans % # Loans 0.26% 0.03% 0.03% 0.75% 1.07% REO Balance 204,0 204,05 % Balance 0.00% 0.00% 0.00% 0.06% 0.06% # Loans % # Loans 0.00% 0.00% 0.00% 0.10% 0.10% TOTAL Balance 1,057,3 9,880,06 3,557,109 15,654,589 30,149,095. % Balance 0.30% 2.80% 1.00% 4.43% 8.53% # Loans % # Loans 0.29% 3.13% 1.28% 5.07% 9.77% Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+
Prepayment Report - Voluntary Prepayments
Voluntary Prepayments Adjustable Fixed Total Current Number of Paid in Full Loans 86 88 174 Number of Repurchased Loans Total Number of Loans Prepaid in Full 86 89 175 Paid in Full Balance 9,713,295 5,270,49 14,983,794. Repurchase Loans Balance 72,2 72,2 Curtailments Amount Total Prepayment Amount 9,713,295 5,342,74 15,056,044. Cumulative Number of Paid in Full Loans 417 512 929 Number of Repurchased Loans 1 3 4 Total Number of Loans Prepaid in Full 418 515 933 Paid in Full Balance 43,877,296. 28,967,668 72,844,964. Repurchased Loans Balance 5,5 134,0 139,62 Curtailments Amount (24,2 (7, (31,4 Total Prepayment Amount 43,858,668. 29,094,456 72,953,125. SPACE INTENTIONALLY LEFT BLANK
Prepayment Report - Voluntary Prepayments
Voluntary Prepayment Rates Adjustable Fixed Total SMM 2.67% 1.44% 2.05% 3 Months Average SMM 2.10% 1.41% 1.75% 12 Months Average SMM Average SMM Since Cut-Off 1.66% 1.09% 1.37% CPR 27.73% 15.93% 21.96% 3 Months Average CPR 22.44% 15.63% 19.06% 12 Months Average CPR Average CPR Since Cut-Off 18.23% 12.31% 15.30% PSA 1453.12% 851.77% 1162.95% 3 Months Average PSA Approximation 1310.43% 935.80% 1127.35% 12 Months Average PSA Approximation Average PSA Since Cut-Off Approximation 1371.72% 959.37% 1171.46%
Realized Loss Report - Collateral
Collateral Realized Losses Adjustable Fixed Total Current Number of Loan Liquidated Collateral Realized Loss / (Gain) Amount Net Liquidation Proceeds 192,95 192,95 Cumulative Number of Loans Liquidated Collateral Realized Loss / (Gain) Amount Net Liquidation Proceeds 251,42 251,42 Note: Collateral realized losses may include adjustments to loans liquidated in prior periods. SPACE INTENTIONALLY LEFT BLANK
Realized Loss Report - Collateral
Default Speeds Adjustable Fixed Total MDR 0.05% 0.00% 0.03% 3 Months Average MDR 0.02% 0.00% 0.01% 12 Months Average MDR Average MDR Since Cut-Off 0.01% 0.00% 0.00% CDR 0.63% 0.00% 0.31% 3 Months Average CDR 0.21% 0.00% 0.10% 12 Months Average CDR Average CDR Since Cut-Off 0.12% 0.00% 0.06% SDA 3.32% 0.00% 1.66% 3 Months Average SDA Approximation 1.24% 0.00% 0.62% 12 Months Average SDA Approximation Average SDA Since Cut-Off Approximation 0.88% 0.00% 0.44% Loss Severity Approximation for Current Period 0.00% 0.00% 3 Months Average Loss Severity Approximation 0.00% 0.00% 12 Months Average Loss Severity Approximation Average Loss Severity Approximation Since Cut-Off 0.00% 0.00%
Triggers, Adj. Rate Cert. And Miscellaneous Report
Trigger Events Adjustable Fixed Total Has Servicer Termination Loss Trigger Occurred? No
Adjustable Rate Certificate Information Adjustable Fixed Total Next Pass-Through Rates for Adjustable Rate Certificates Class A-5 6.730000% Class A-7 5.678750%
Additional Information Adjustable Fixed Total CLASS A-7 SUPPLEMENTAL INTEREST ACCOUNT Class A-7 Supplemental Interest Amount Class A-7 Supplemental Interest Shortfall Carry-Forward Amount Class A-7 Supplemental Interest Shortfall Amount Deposit to C1 A-7 Supp Int Acct (Class B Distribution) Payment to Supplemental interest Right Class A-7 Supplemental Interest Account Ending Balance
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