EX-1 3 dex1.htm MONTHLY STATEMENT TO CERTIFICATEHOLDERS DATED MARCH 22, 2004 Monthly Statement to Certificateholders dated March 22, 2004

Exhibit 1

 

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 1    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     
   

CERTIFICATES INFORMATION

             
     BALANCE     MARGIN  

Investors

    $500,000,000.00     0.26 %

Transferor

    $10,205,197.95     0.00 %
   

OTHER INFORMATION

             
   

Original Pool Balance @ Cut-Off Date

    $510,205,197.95        

Servicing Fee

    0.500 %      
   

Original Settlement Date

    6/23/99        

First Payment Date

    7/20/99        

Short Interest Period Days

    27        

Managed Amortization Period (Months)

    60        
   

Required Credit Enhancement Amount Percentage

    1.75 %      

Required Credit Enhancement Amount

    $8,750,000.00        

Spread Account Maximum ( % of Invested Amount)

    0.25 %      

Spread Account Maximum

    1,250,000.00        

Spread Account Floor ( % of Original Balance)

    0.00 %      

Spread Account Step-Up 9+ Mths Delinquent Percentage

    0.00 %      

Initial Insured Amount

    $500,000,000.00        
   

Fixed Allocation Percentage

    98.00 %      

Minimum Transferor Interest Percentage

    5.00 %      

Credit Enhancement Fee

    0.110 %      

Rapid Amortization Event Trigger (% of Original Pool Balance)

    1.000 %      

Tail Adjustment

    $0.00        
  

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 2    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     
   

INPUT SECTION (PAGE 1 of 1)

 

       
   

MONTH:

 

    57  

DISTRIBUTION DATE:

 

    3/22/04  

DETERMINATION DATE:

 

    3/17/04  
       31  

MORTGAGE LOANS PAYMENT SUMMARY

 

       

COLLECTION PERIOD:

 

       
   

MTGE LOANS INTEREST RECEIVED

 

    $522,623.76  

MTGE LOANS PRINCIPAL RECEIVED

 

    $4,438,719.91  

MTGE LOANS NET LIQUIDATION PROCEEDS (ALLOC. TO INTEREST)

 

    $36,724.87  

MTGE LOANS NET LIQUIDATION PROCEEDS (NET OF FORECL. PROFIT & ALLOC. TO PRINCIPAL)

  

    $0.00  

MTGE LOANS INSURANCE PROCEEDS (ALLOC. TO INTEREST)

 

    $0.00  

MTGE LOANS INSURANCE PROCEEDS (ALLOC. TO PRINCIPAL)

 

    $0.00  

MTGE LOANS SERVICER OPTIONAL ADVANCES (ALLOC. TO INTEREST)

 

    $0.00  

MTGE LOANS PURCHASE PRICE (ALLOC. TO INTEREST)

 

    $0.00  

MTGE LOANS PURCHASE PRICE (ALLOC. TO PRINCIPAL)

 

    $0.00  

MTGE LOANS TRANSFER DEPOSIT AMOUNT (ALLOC. TO PRINCIPAL)

 

    $0.00  
   

MTGE LOANS DRAWS (ADDITIONAL BALANCES)

 

    $2,125,877.06  

MTGE LOANS LIQUIDATION LOSS AMOUNT

 

    $108,284.78  
   

MTGE LOANS TOTAL ENDING PRINCIPAL BALANCE

 

    $126,921,358.00  
   

AVERAGE MTGE LOANS RATE

 

    4.77474 %
   

DELINQUENCY & REO SUMMARY

 

       

DEL STAT 1 – NO. OF ACCTS

 

    62  

DEL STAT 1 – CURRENT BALANCE

 

    $1,648,563.24  

DEL STAT 2 – NO. OF ACCTS

 

    25  

DEL STAT 2 – CURRENT BALANCE

 

    $624,909.79  

DEL STAT 1+ – NO. OF ACCTS

 

    159  

DEL STAT 1+ – CURRENT BALANCE

 

    $5,268,041.96  

DEL STAT 3+ – NO. OF ACCTS

 

    72  

DEL STAT 3+ – CURRENT BALANCE

 

    $2,994,568.93  
   

REO – NO. OF ACCTS

 

    0  

REO – CURRENT BOOK BALANCE (UNPAID PRINC. BALANCE)

 

    $0.00  
   

LOAN MODIFICATION SUMMARY

 

       

é TOTAL CLTV OF OUTSTANDING POOL BALANCE FOR THIS COLLECTION PERIOD.

 

    74.7600 %

CUT-OFF DATE WEIGHTED AVERAGE GROSS MARGIN (NOT AN INPUT FIELD)

 

    1.250 %

RECALCULATED WEIGHTED AVERAGE GROSS MARGIN

 

    0.775 %

MAXIMUM AMOUNT OF MARGIN MODIFICATIONS EXECUTED? (NOT AN INPUT FIELD)

 

    NO  
   

OTHER INFORMATION

 

       

LIBOR RATE FOR CURRENT INTEREST PERIOD

 

    1.09125 %

INTEREST DEPOSIT INTO SPREAD ACCOUNT (REINVESTMENT)

 

    $0  

é AMOUNT OWED TO CREDIT ENHANCER DUE TO PREPAYMENT SHORTFALL

 

    $0  

SURETY BOND IN FORCE ? (YES=1; NO=0)

 

    1  
  

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 3    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     
  

Detailed Information (Page 1 of 5)

       
   

Distribution Date:

    3/22/04  
   

LIBOR Rate (Adjusted two business days prior to previous Distribution Date)

    1.09125 %

Average Mtge Loans Net Loan Rate (Effective Rate; Multiply by 360/365)

    4.09933 %

Maximum Rate

    4.09933 %

Investor Certificate Rate (LIBOR + 26 bps)

    1.35125 %

Investor Certificate Rate Capped at Maximum Rate? (Y=1; N=0)

    0  

Interest Period (Days)

    31  
   

Beginning Pool Balance

    129,342,485.63  

Beginning Investor Certificate Principal Balance

    115,552,070.99  

Beginning Transferor Principal Balance

    9,908,820.52  

Beginning Invested Amount

    119,433,665.11  

Investor Floating Allocation Percentage

    92.3391 %

Liquidation Loss Amount

    108,284.78  

Servicing Fee

    53,892.70  
   

Mtge Loans Interest (Net of Cut-Off Date Overdue Interest)

    522,623.76  

Mtge Loans Principal

    4,438,719.91  

Mtge Loans Net Liquidation Proceeds

    36,724.87  

Mtge Loans Insurance Proceeds

    0.00  

Mtge Loans Optional Servicer Advances

    0.00  

Mtge Loans Purchase Price

    0.00  

Mtge Loans Transfer Deposit Amount

    0.00  

Available Funds

    4,998,068.54  
   

Mtge Loans Interest

    522,623.76  

Mtge Loans Net Liquidations Proceeds (Alloc. to Int.)

    36,724.87  

Mtge Loans Insurance Proceeds (Alloc. to Int.)

    0.00  

Mtge Loans Optional Servicer Advances (Alloc. to Int.)

    0.00  

Mtge Loans Purchase Price (Alloc. to Int.)

    0.00  

Mtge Loans Interest Collections

    559,348.63  
   

Mtge Loans Principal

    4,438,719.91  

Mtge Loans Net Liquidation Proceeds (Alloc. to Princ. & Net of Forecl. Profits)

    0.00  

Mtge Loans Insurance Proceeds (Alloc. to Princ.)

    0.00  

Mtge Loans Purchase Price (Alloc. to Princ.)

    0.00  

Mtge Loans Transfer Deposit Amount

    0.00  

Mtge Loans Principal Collections

    4,438,719.91  
   

Interest Collections

    559,348.63  

Principal Collections

    4,438,719.91  
   

Investor & Transferor Interest & Principal Allocation

       

Investor Interest Collections

    516,497.40  

Investor Principal Collections

    4,349,935.99  

Transferor Interest Collections

    42,851.23  

Transferor Principal Collections

    88,783.92  

(Check)

    0.00  
   

Investor Loss Amount

    99,989.17  

Transferor Loss Amount

    8,295.61  
  

 

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 4    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     

 

  

Detailed Information (Page 2 of 5)

 

       
   

Distribution Date:

 

    3/22/04  
   

Investor Interest Collections

 

    516,497.40  

less Investor Servicing Fee

 

    49,764.03  

less Unpaid Servicing Fee

 

    0.00  

less Investor Certificate Interest

 

    134,453.66  

less Unpaid Investor Certificate Interest Shortfall

 

    0.00  

less Credit Enhancement Premium

 

    10,592.27  

less Investor Loss Amount

 

    99,989.17  

less Unpaid Investor Loss Amount

 

    0.00  

less Unreimbursed Draw Amounts

 

    0.00  

Excess Interest

 

    221,698.26  

less Accelerated Principal Distribution Amount

 

    (78,417.04 )

less Deposit to (Release from) Spread Account

 

    (6,032.08 )

Remaining Excess Interest

 

    306,147.38  
   

Investor Distributions

 

       

Investor Certificate Interest

 

    134,453.66  

Managed Amortization Period? (Y=1, N=0)

 

    1  

Rapid Amortization Period? (Y=1, N=0)

 

    0  

Principal Collections less Additional Balances

 

    2,312,842.85  

Alternative Principal Payment

 

    2,312,842.85  

Maximum Principal Collections

 

    4,349,935.99  

Principal Distribution Amount

 

    2,312,842.85  

Investor Loss Amount Distributed to Investors

 

    99,989.17  

Excess Interest Paid as Principal

 

    (78,417.04 )
   

Transferor Distributions

 

       

Transferor Interest Collections (net of Transferor Servicing Fee)

 

    38,722.56  

Funds Released from Spread Account

 

    0.00  

Principal Distributions (including Transferor Principal Collections)

 

    2,125,877.06  
   

Excess Int. (Shortfall) a/ Interest

 

    382,043.73  

Excess Int. (Shortfall) a/ Premium b/ Losses

 

    371,451.46  

Excess Int. (Shortfall) a/ Losses

 

    271,462.29  

Required Amount

 

    0.00  

Required Amount Applied to Overcollateralization Amount

 

    0.00  

Draw on Policy

 

    0.00  
   

Investor Certificate Distribution Amount (Excluding Credit Enhancement Draw Amount)

 

    2,468,868.64  

Credit Enhancement Draw Amount

 

    0.00  

Guaranteed Principal Distribution Amount

 

    0.00  

Guaranteed Amount

 

    0.00  
  

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 5    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     
  

Detailed Information (Page 3 of 5)

 

       
   

Distribution Date:

 

    3/22/04  
   

Beginning Pool Balance

 

    129,342,485.63  

Interest Distribution

 

    559,348.63  

Principal Distribution

 

    4,438,719.91  

Additional Balances

 

    2,125,877.06  

Liquidation Loss Amount

 

    108,284.78  

Ending Pool Balance

 

    126,921,358.00  
   

Beginning Investor Certificate Principal Balance

 

    115,552,070.99  

Investor Certificate Interest

 

    134,453.66  

Unpaid Investor Certificate Interest Shortfall distributed

 

    0.00  

Investor Certificate Principal

 

    2,334,414.98  

Ending Investor Certificate Principal Balance

 

    113,217,656.01  

Pool Factor

 

    0.2264353  
   

Beginning Transferor Balance

 

    9,908,820.52  

Interest Distribution (including funds released from Spread Account)

 

    42,851.23  

Principal Distribution (including Unallocated Transferor Principal Collections)

 

    2,125,877.06  

Additional Balances

 

    2,125,877.06  

Losses allocated to Transferor

 

    8,295.61  

Ending Transferor Balance

 

    9,900,524.91  

Minimum Transferor Interest

 

    6,346,067.90  

Transferor Principal Collections Unallocated due to Minimum Transferor Interest (held in Coll. Acct.)

 

    0.00  

Total Unallocated Transferor Principal Collections held in Collection Account

 

    0.00  
   

Beginning Invested Amount

 

    119,433,665.11  

Principal Distribution Amount

 

    2,312,842.85  

Investor Loss Reduction Amount

 

    99,989.17  

Ending Invested Amount

 

    117,020,833.09  
   

Beginning Total OC Amount

 

    3,881,594.12  

Ending Total OC Amount

 

    3,803,177.08  

Ending Total OC Amount (% of Original Invested Amount)

 

    0.76 %
   

Spread Account Cap Amount

 

    292,552.08  

Beginning Spread Account Balance

 

    298,584.16  

Draw from Account to Pay Credit Enhancer

 

    0.00  

Deposit to (Release from)

 

    (6,032.08 )

Ending Spread Account Balance

 

    292,552.08  

Ending Spread Account Balance (% of Ending Invested Amount)

 

    0.25 %

Unreimbursed Draw on Surety Bond

 

    0.00  
  

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 6    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     
  
   

Detailed Information (Page 4 of 5)

 

         
   

Distribution Date:

 

      3/22/04  
   

Beginning Insured Principal Amount

 

    $ 115,552,070.99  

Ending Insured Principal Amount

 

    $ 113,217,656.01  
   

Available Credit Enhancement

 

      0.80 %

Investor Distribution Amount

 

      2,468,868.64  

Transferor Distribution Amount (incl. Excess Cash Rel. From SA)

 

      2,164,599.62  
   

Investor Loss Amount Reimbursed from Excess Interest

 

      99,989.17  

Investor Loss Amount Reimbursed from Policy Draw

 

      0.00  

Investor Loss Amount Allocated to OC

 

      0.00  

Investor Loss Amount Unreimbursed

 

      0.00  

Unreimbursed Loss Amount Distributed

 

      0.00  
   

Cum. Accelerated Principal Distribution Amount

 

      3,803,177.08  

Cum. Principal Payments (Including ECPB & APDA)

 

      386,782,343.99  

Cum. Principal Payments (Excluding ECPB & APDA)

 

      383,057,583.95  

Cum. OC Amount

 

      3,803,177.08  

Cum. SA Deposits

 

      292,552.08  

Cum. Liquidation Losses

 

      7,644,619.64  

Cum. Investor Loss Reduction Amount

 

      0.00  

Cum. Purchase Price of Repurchased Loans (Alloc. to Principal)

 

      0.00  

Cum. Guaranteed Principal Distribution Amount

 

      0.00  

Cum. Credit Enhancement Draw Amount

 

      0.00  
   

Cum. Change in Weighted Average Gross Margin (Cut-Off Margin-Current Margin)

 

      0.475 %
   

Accrued but Unpaid a/ Distribution

 

         

Servicing Fee

 

      0.00  

Investor Certificate Interest

 

      0.00  

Credit Enhancement Premium

 

      0.00  

Unreimbursed Draw Amounts

 

      0.00  
  

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 7    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     

 

  
   

Detailed Information (Page 5 of 5)

 

       
   

Distribution Date:

 

    3/22/04  
   

SOURCES OF FUNDS:

 

       

Mtge Loans Interest

 

    522,623.76  

Mtge Loans Net Liq. Proceeds (Alloc. to Int. & Incl. Rec. Charge-Offs)

 

    36,724.87  

Mtge Loans Insurance Proceeds (Alloc. to Int.)

 

    0.00  

Mtge Loans Purchase Price (Alloc. to Int.)

 

    0.00  

Mtge Loans Principal

 

    4,438,719.91  

Mtge Loans Net Liq. Proceeds (Alloc. to Princ.)

 

    0.00  

Mtge Loans Insurance Proceeds (Alloc. to Princ.)

 

    0.00  

Mtge Loans Purchase Price (Alloc. to Princ.)

 

    0.00  

Mtge Loans Transfer Deposit Amount

 

    0.00  

Reinvestment Earnings

 

    0.00  

Draw on Policy

 

    0.00  

Total

 

    4,998,068.54  
   

USES OF FUNDS

 

       

Servicing Fee

 

    53,892.70  

Investor Interest Distribution

 

    134,453.66  

Accrued and Unpaid Investor Interest Distributed

 

    0.00  

Investor Principal Distribution

 

    2,334,414.98  

Transferor Distribution (not including Cash Released to Transferor)

 

    2,164,599.62  

Unallocated Transferor Principal Collections

 

    0.00  

Accrued and Unpaid Servicing Fee Distributed

 

    0.00  

Credit Enhancement Premium Distributed

 

    10,592.27  

Cash Deposited to (Released from) Spread Account

 

    (6,032.08 )

Cash Released to Transferor

 

    306,147.38  

Total

 

    4,998,068.54  
   

PERFORMANCE PARAMETERS

 

       

Aggregate Amount of Locked Balances

 

    1,157,073.90  

Aggregate Amount of Locked Balances – %

 

    0.912 %

Portfolio CLTV as of the End of the Collection Period

 

    74.760 %

Amount of Pool Balance Offered the “Skip-a-Pay Program”

 

    0.00  

Percentage of Pool Balance Offered the “Skip-a-Pay Program”

 

    0.00 %

Number of Accounts Accepting the “Skip-a-Pay Program”

 

    0  

Aggregate Principal Balance of Accounts Accepting the “Skip-a-Pay Program”

 

    0.00  
  
   

ERROR CHECK

 

       
   

Sources & Uses

 

    OK  

Pool Balance

 

    OK  

Transferor Balance

 

    OK  

Loss Allocation

 

    OK  

Overcollateralization

 

    OK  

Balance Reduction

 

    OK  
   

Distribution List:

 

       
   

Keith Richardson – Bank One, N.A.

 

       
  

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 8    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     
  

Servicer Certificate (Page 1 of 3)

 

       
   

Distribution Date:

 

    3/22/04  
   

A.

  

POOL INFORMATION

 

       
   
   

Aggregate Amount of Collections

 

    4,998,068.54  
   

Aggregate Amount of Interest Collections

 

    559,348.63  
   

Aggregate Amount of Principal Collections

 

    4,438,719.91  
   

Transfer Deposit Amount

 

    0.00  
   

Beginning Pool Balance

 

    129,342,485.63  
   

Ending Pool Balance

 

    126,921,358.00  
   

Additional Balances

 

    2,125,877.06  
   

Cum. Modifications to Credit Limits ($ of Initial Credit Limits)

 

    $0.00  
   

Cum. Modifications to Credit Limit (% of Initial Credit Limits)

 

    0.00 %
   

Cum. Change in Weighted Average Gross Margin (Cut-Off Margin-Current Margin)

 

    0.475 %
   

Servicing Fee

 

    53,892.70  
   

Unpaid Servicing Fee Received

 

    0.00  
   

Remaining Accrued and Unpaid Servicing Fee

 

    0.00  
   

B.

  

INTEREST, PRINCIPAL & LOSS ALLOCATION

 

       
   
   

Investor Certificateholder Floating Allocation Percentage

 

    92.34 %
   

Investor Certificateholder Fixed Allocation Percentage

 

    98.00 %
   

Investor Interest Collections

 

    516,497.40  
   

Investor Principal Collections

 

    4,349,935.99  
   

Transferor Interest Collections

 

    42,851.23  
   

Transferor Principal Collections

 

    88,783.92  
   

Investor Loss Amount

 

    99,989.17  
   

Beginning Invested Amount

 

    119,433,665.11  
   

Ending Invested Amount

 

    117,020,833.09  
   

C.

  

INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS

 

       
   
   

Investor Certificate Interest Distributed

 

    134,453.66  
   

Investor Certificate Interest Shortfall b/ any Draw on Policy

 

    0.00  
   

Unpaid Investor Certificate Interest Shortfall Received

 

    0.00  
   

Unpaid Investor Certificate Interest Shortfall Remaining

 

    0.00  
   
   

Principal Distribution Amount

 

    2,312,842.85  
   

Managed Amortization Period? (Yes=1; No=0)

 

    1  
   

Rapid Amortization Period? (Yes=1; No=0)

 

    0  
   

Maximum Principal Collections Payment

 

    4,349,935.99  
   

Alternative Principal Payment

 

    2,312,842.85  
   

Principal Collections less Additional Balances

 

    2,312,842.85  
   

Investor Loss Amount Distributed to Investors

 

    99,989.17  
   

Accelerated Principal Distribution Amount

 

    (78,417.04 )
   

D.

  

INVESTOR CERTIFICATE PRINCIPAL BALANCE

 

       
   
   

Beginning Certificate Principal Balance

 

    115,552,070.99  
   

Ending Certificate Principal Balance

 

    113,217,656.01  
   

Pool Factor

 

    0.2264353  
  

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 9    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     
  

Servicer Certificate (Page 2 of 3)

 

       
   

Distribution Date:

 

    3/22/04  
   

E.

  

DISTRIBUTIONS TO TRANSFEROR

 

       
   
   

Interest Distribution

 

    42,851.23  
   

Principal Distribution

 

    2,125,877.06  
   

Amount Distributed to Transferor

 

    0.00  
   

F.

  

TRANSFEROR BALANCE

 

       
   
   

Beginning Transferor Principal Balance

 

    9,908,820.52  
   

Ending Transferor Principal Balance

 

    9,900,524.91  
   

Minimum Transferor Balance

 

    6,346,067.90  
   

G.

  

INVESTOR CERTIFICATE RATE

 

       
   
   

Investor Certificate Rate

 

    1.35125 %
   

LIBOR Rate

 

    1.09125 %
   

Maximum Rate

 

    4.09933 %
   

Weighted Average Mortgage Net Loan Rate

 

    4.09933 %
   

H.

  

CREDIT ENHANCEMENT

 

       
   
   

Credit Enhancement Fee

 

    10,592.27  
   

Guaranteed Amount

 

    0.00  
   

Guaranteed Principal Distribution Amount

 

    0.00  
   

Credit Enhancement Draw Amount

 

    0.00  
   

I.

  

SPREAD ACCOUNT

 

       
   
   

Beginning Spread Account Balance

 

    298,584.16  
   

Ending Spread Account Balance

 

    292,552.08  
   

Amount to be distributed to (Released from) the Spread Account

 

    (6,032.08 )
   

Spread Account Maximum

 

    292,552.08  
   

J.

  

DELINQUENCY & REO STATUS

 

       
   
   

Delinquent 30-59 days

 

       
   

No. of Accounts

 

    62  
   

Trust Balances

 

    1,648,563.24  
   

Delinquent 60-89 days

 

       
   

No. of Accounts

 

    25  
   

Trust Balances

 

    624,909.79  
   

Delinquent 90+ days

 

       
   

No. of Accounts

 

    72  
   

Trust Balances

 

    2,994,568.93  
   

Delinquent 9+ months

 

       
   

No. of Accounts

 

    0  
   

Trust Balances

 

    0.00  
   

REO

 

       
   

No. of Accounts

 

    0  
   

Trust Balances

 

    0.00  
  

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 10    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     

Servicer Certificate (Page 3 of 3)

     
 

Distribution Date:

    3/22/04
 

K.

  

EVENT OF DEFAULT TRIGGERS

    0
 
   

Failure by Seller to make payment within 5 Business Days of Required Date ?

    0
   

Failure by Seller to perform any covenants described in the Agreement ?

    0
   

Bankruptcy or Insolvency relating to Servicer ?

    0
 

L.

  

RAPID AMORTIZATION EVENT TRIGGERS

    0
 
   

Failure by Seller to make payment within 3 Business Days of Required Date ?

    0
   

Breach of Representation or Warranty by Seller or Depositor?

    0
   

Bankruptcy or Insolvency relating to Transferor ?

    0
   

Subject to Investment Company Act of 1940 Regulation ?

    0
   

Any Event of Default ?

    0
   

Draws Under Policy are Greater than 1% of Initial Pool Principal Balance?

    0

 

 

 

 

 

 

 

 

 

 

 

 

IN WITNESS WHEREOF, the undersigned has caused this Certificate to be duly executed and certifies to the best of his knowledge and belief that information is true and correct this 17th day of March 2004

 

 

   

Bank One, N.A.

as Servicer

    

/s/    Philip C. McNiel        

   
   

Philip C. McNiel

Vice President

 

Distribution List:

 

MBIA

Keith Richardson – JPMorgan Chase Bank

Moody’s Investors Service

Standard & Poor’s Corp.

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 11    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     
  

Statement to Certificateholders (Page 1 of 2)

 

       
   

Distribution Date:

 

    3/22/04  
   
    INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000 ORIGINAL PRINCIPAL AMOUNT)          
   

A.

  

INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS

 

       
   
   

Investor Certificate Interest Distributed

 

    0.268907  
   

Investor Certificate Interest Shortfall Distributed

 

    0.000000  
   

Remaining Unpaid Investor Certificate Interest Shortfall

 

    0.000000  
   
   

Managed Amortization Period ? (Yes=1; No=0)

 

    1  
   

Investors Certificate Principal Distributed

 

    4.668830  
   

Principal Distribution Amount

 

    4.625686  
   

Maximum Principal Payment

 

    8.699872  
   

Alternative Principal Payment

 

    4.625686  
   

Principal Collections less Additional Balances

 

    4.625686  
   

Investor Loss Amount Distributed to Investors

 

    0.199978  
   

Accelerated Principal Distribution Amount

 

    -0.156834  
   

Credit Enhancement Draw Amount

 

    0.00  
   
   

Total Amount Distributed to Certificateholders (P & I)

 

    4.937737  
   

B.

  

INVESTOR CERTIFICATE PRINCIPAL BALANCE

 

       
   
   

Beginning Investor Certificate Balance

 

    115,552,070.99  
   

Ending Investor Certificate Balance

 

    113,217,656.01  
   

Beginning Invested Amount

 

    119,433,665.11  
   

Ending Invested Amount

 

    117,020,833.09  
   

Investor Certificateholder Floating Allocation Percentage

 

    92.3391 %
   

Pool Factor

 

    0.2264353  
   

Liquidation Loss Amount for Liquidated Loans

 

    108,284.78  
   

Unreimbursed Liquidation Loss Amount

 

    0.00  
   

C.

  

POOL INFORMATION

 

       
   
   

Beginning Pool Balance

 

    129,342,485.63  
   

Ending Pool Balance

 

    126,921,358.00  
   

Servicing Fee

 

    53,892.70  
   

D.

  

INVESTOR CERTIFICATE RATE

 

       
   
   

Investor Certificate Rate

 

    1.351250 %
   

LIBOR Rate

 

    1.091250 %
   

Maximum Rate

 

    4.099332 %
   

E.

  

DELINQUENCY & REO STATUS

 

       
   
   

Delinquent 30-59 days

 

       
   

No. of Accounts

 

    62  
   

Trust Balances

 

    1,648,563.24  
   

Delinquent 60-89 days

 

       
   

No. of Accounts

 

    25  
   

Trust Balances

 

    624,909.79  
   

Delinquent 90+ days

 

       
   

No. of Accounts

 

    72  
   

Trust Balances

 

    2,994,568.93  
   

Delinquent 9+ Months

 

       
   

No. of Accounts

 

    0  
   

Trust Balances

 

    0  
   

REO

 

       
   

No. of Accounts

 

    0  
   

Trust Balances

 

    0.00  
  

ABS Corporation

          

Banc One Home Equity Loan Trust 1999-1

         Page 12    

P & S Agreement Date:

    May 31, 1999     

Original Settlement Date:

    June 23, 1999     

Series Number of Certificates:

          

Original Collateral Sale Balance

    $510,205,197.95     

 

Statement to Certificateholders (Page 2 of 2)

     

Distribution Date:

    3/22/04

 

 

 

 

 

IN WITNESS WHEREOF, the undersigned has caused this Certificate to be duly executed and certifies to the best of his knowledge and belief that information is true and correct this 17th day of March 2004

 

 

    Bank One, N.A.
    as Servicer
   

/s/    Philip C. McNiel        

   

Philip C. McNiel

   

Vice President

 

 

 

 

 

 

 

 

 

 

 

 

Distribution List:

 

Keith Richardson – Bank One, N.A.