EX-1 2 dex1.htm MONTHLY STATEMENT TO CERTIFICATEHOLDERS DATED AUGUST 20, 2004 Monthly Statement to Certificateholders dated August 20, 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:

    62  

DISTRIBUTION DATE:

    8/20/04  

DETERMINATION DATE:

    8/17/04  
     31  

MORTGAGE LOANS PAYMENT SUMMARY

       

COLLECTION PERIOD:

       
   

MTGE LOANS INTEREST RECEIVED

    $454,789.47  

MTGE LOANS PRINCIPAL RECEIVED

    $4,639,382.18  

MTGE LOANS NET LIQUIDATION PROCEEDS (ALLOC. TO INTEREST)

    $24,267.16  

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)

    $2,146,633.04  

MTGE LOANS LIQUIDATION LOSS AMOUNT

    $267,989.12  
   

MTGE LOANS TOTAL ENDING PRINCIPAL BALANCE

    $111,885,404.51  
   

AVERAGE MTGE LOANS RATE

    4.75041 %
   

DELINQUENCY & REO SUMMARY

       

DEL STAT 1 - NO. OF ACCTS

    44  

DEL STAT 1 - CURRENT BALANCE

    $1,173,245.24  

DEL STAT 2 - NO. OF ACCTS

    23  

DEL STAT 2 - CURRENT BALANCE

    $611,623.44  

DEL STAT 1+ - NO. OF ACCTS

    117  

DEL STAT 1+ - CURRENT BALANCE

    $3,378,767.53  

DEL STAT 3+ - NO. OF ACCTS

    50  

DEL STAT 3+ - CURRENT BALANCE

    $1,593,898.85  
   

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.

    74.4853 %

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

    1.250 %

RECALCULATED WEIGHTED AVERAGE GROSS MARGIN

    0.750 %

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

    NO  
   

OTHER INFORMATION

       

LIBOR RATE FOR CURRENT INTEREST PERIOD

    1.42000 %

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:

    8/20/04  
   

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

    1.42000 %

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

    4.07534 %

Maximum Rate

    4.07534 %

Investor Certificate Rate (LIBOR + 26 bps)

    1.68000 %

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

       

Interest Period (Days)

    31  
        

Beginning Pool Balance

    114,646,142.77  

Beginning Investor Certificate Principal Balance

    99,158,959.10  

Beginning Transferor Principal Balance

    12,156,262.56  

Beginning Invested Amount

    102,489,880.21  

Investor Floating Allocation Percentage

    89.3967 %

Liquidation Loss Amount

    267,989.12  

Servicing Fee

    47,769.23  
   

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

    454,789.47  

Mtge Loans Principal

    4,639,382.18  

Mtge Loans Net Liquidation Proceeds

    24,267.16  

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

    5,118,438.81  
   

Mtge Loans Interest

    454,789.47  

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

    24,267.16  

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

    479,056.63  
   

Mtge Loans Principal

    4,639,382.18  

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

    4,639,382.18  
   

Interest Collections

    479,056.63  

Principal Collections

    4,639,382.18  
   

Investor & Transferor Interest & Principal Allocation

       

Investor Interest Collections

    428,260.87  

Investor Principal Collections

    4,546,584.59  

Transferor Interest Collections

    50,795.76  

Transferor Principal Collections

    92,797.59  

(Check)

    0.00  
   

Investor Loss Amount

    239,573.46  

Transferor Loss Amount

    28,415.66  

 

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:

    8/20/04  
        

Investor Interest Collections

    428,260.87  

less Investor Servicing Fee

    42,704.12  

less Unpaid Servicing Fee

    0.00  

less Investor Certificate Interest

    143,449.96  

less Unpaid Investor Certificate Interest Shortfall

    0.00  

less Credit Enhancement Premium

    9,089.57  

less Investor Loss Amount

    239,573.46  

less Unpaid Investor Loss Amount

    0.00  

less Unreimbursed Draw Amounts

    0.00  

Excess Interest

    0.00  

less Accelerated Principal Distribution Amount

    (155,550.14 )

less Deposit to (Release from) Spread Account

    (11,965.40 )

Remaining Excess Interest

    160,959.29  
        

Investor Distributions

       

Investor Certificate Interest

    143,449.96  

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

    0  

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

    1  

Principal Collections less Additional Balances

    2,492,749.14  

Alternative Principal Payment

    2,492,749.14  

Maximum Principal Collections

    4,546,584.59  

Principal Distribution Amount

    4,546,584.59  

Investor Loss Amount Distributed to Investors

    239,573.46  

Excess Interest Paid as Principal

    (155,550.14 )
        

Transferor Distributions

       

Transferor Interest Collections (net of Transferor Servicing Fee)

    45,730.65  

Funds Released from Spread Account

    0.00  

Principal Distributions (including Transferor Principal Collections)

    92,797.59  
        

Excess Int. (Shortfall) a/ Interest

    284,810.91  

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

    275,721.34  

Excess Int. (Shortfall) a/ Losses

    36,147.88  

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)

    4,774,057.87  

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:

    8/20/04  
   

Beginning Pool Balance

    114,646,142.77  

Interest Distribution

    479,056.63  

Principal Distribution

    4,639,382.18  

Additional Balances

    2,146,633.04  

Liquidation Loss Amount

    267,989.12  

Ending Pool Balance

    111,885,404.51  
   

Beginning Investor Certificate Principal Balance

    99,158,959.10  

Investor Certificate Interest

    143,449.96  

Unpaid Investor Certificate Interest Shortfall distributed

    0.00  

Investor Certificate Principal

    4,630,607.91  

Ending Investor Certificate Principal Balance

    94,528,351.19  

Pool Factor

    0.1890567  
   

Beginning Transferor Balance

    12,156,262.56  

Interest Distribution (including funds released from Spread Account)

    50,795.76  

Principal Distribution (including Unallocated Transferor Principal Collections)

    92,797.59  

Additional Balances

    2,146,633.04  

Losses allocated to Transferor

    28,415.66  

Ending Transferor Balance

    14,181,682.35  

Minimum Transferor Interest

    5,594,270.23  

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

    102,489,880.21  

Principal Distribution Amount

    4,546,584.59  

Investor Loss Reduction Amount

    239,573.46  

Ending Invested Amount

    97,703,722.16  
   

Beginning Total OC Amount

    3,330,921.11  

Ending Total OC Amount

    3,175,370.97  

Ending Total OC Amount (% of Original Invested Amount)

    0.64 %
   

Spread Account Cap Amount

    244,259.31  

Beginning Spread Account Balance

    256,224.70  

Draw from Account to Pay Credit Enhancer

    0.00  

Deposit to (Release from)

    (11,965.40 )

Ending Spread Account Balance

    244,259.31  

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:

    8/20/04  
   

Beginning Insured Principal Amount

    $99,158,959.10  

Ending Insured Principal Amount

    $94,528,351.19  
   

Available Credit Enhancement

    0.67 %

Investor Distribution Amount

    4,774,057.87  

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

    138,528.24  
   

Investor Loss Amount Reimbursed from Excess Interest

    239,573.46  

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

    3,175,370.97  

Cum. Principal Payments (Including ECPB & APDA)

    405,471,648.81  

Cum. Principal Payments (Excluding ECPB & APDA)

    402,451,827.97  

Cum. OC Amount

    3,175,370.97  

Cum. SA Deposits

    244,259.31  

Cum. Liquidation Losses

    8,356,673.74  

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)

    0.500 %
   

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:

    8/20/04  
   

SOURCES OF FUNDS:

       

Mtge Loans Interest

    454,789.47  

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

    24,267.16  

Mtge Loans Insurance Proceeds (Alloc. to Int.)

    0.00  

Mtge Loans Purchase Price (Alloc. to Int.)

    0.00  

Mtge Loans Principal

    4,639,382.18  

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

    5,118,438.81  
   

USES OF FUNDS

       

Servicing Fee

    47,769.23  

Investor Interest Distribution

    143,449.96  

Accrued and Unpaid Investor Interest Distributed

    0.00  

Investor Principal Distribution

    4,630,607.91  

Transferor Distribution (not including Cash Released to Transferor)

    138,528.24  

Unallocated Transferor Principal Collections

    0.00  

Accrued and Unpaid Servicing Fee Distributed

    0.00  

Credit Enhancement Premium Distributed

    9,089.57  

Cash Deposited to (Released from) Spread Account

    (11,965.40 )

Cash Released to Transferor

    160,959.29  

Total

    5,118,438.81  
   

PERFORMANCE PARAMETERS

       

Aggregate Amount of Locked Balances

    957,083.82  

Aggregate Amount of Locked Balances - %

    0.855 %

Portfolio CLTV as of the End of the Collection Period

    74.485 %

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:

     
   

Greg Kwasny, JP Morgan Trust Company, NA

     

 

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:

      8/20/04  
   

A. POOL INFORMATION

         
   

Aggregate Amount of Collections

      5,118,438.81  

Aggregate Amount of Interest Collections

      479,056.63  

Aggregate Amount of Principal Collections

      4,639,382.18  

Transfer Deposit Amount

      0.00  

Beginning Pool Balance

      114,646,142.77  

Ending Pool Balance

      111,885,404.51  

Additional Balances

      2,146,633.04  

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)

      0.500 %

Servicing Fee

      47,769.23  

Unpaid Servicing Fee Received

      0.00  

Remaining Accrued and Unpaid Servicing Fee

      0.00  
   

B. INTEREST, PRINCIPAL & LOSS ALLOCATION

         
   

Investor Certificateholder Floating Allocation Percentage

      89.40 %

Investor Certificateholder Fixed Allocation Percentage

      98.00 %

Investor Interest Collections

      428,260.87  

Investor Principal Collections

      4,546,584.59  

Transferor Interest Collections

      50,795.76  

Transferor Principal Collections

      92,797.59  

Investor Loss Amount

      239,573.46  

Beginning Invested Amount

      102,489,880.21  

Ending Invested Amount

      97,703,722.16  
   

C. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS

         
   

Investor Certificate Interest Distributed

      143,449.96  

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

      4,546,584.59  

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

      0  

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

      1  

Maximum Principal Collections Payment

      4,546,584.59  

Alternative Principal Payment

      2,492,749.14  

Principal Collections less Additional Balances

      2,492,749.14  

Investor Loss Amount Distributed to Investors

      239,573.46  

Accelerated Principal Distribution Amount

      (155,550.14 )
   

D. INVESTOR CERTIFICATE PRINCIPAL BALANCE

         
   

Beginning Certificate Principal Balance

      99,158,959.10  

Ending Certificate Principal Balance

      94,528,351.19  

Pool Factor

      0.1890567  

 

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:

    8/20/04  
        

E. DISTRIBUTIONS TO TRANSFEROR

       
   

Interest Distribution

    50,795.76  

Principal Distribution

    92,797.59  

Amount Distributed to Transferor

    0.00  
   

F. TRANSFEROR BALANCE

       
   

Beginning Transferor Principal Balance

    12,156,262.56  

Ending Transferor Principal Balance

    14,181,682.35  

Minimum Transferor Balance

    5,594,270.23  
   

G. INVESTOR CERTIFICATE RATE

       
   

Investor Certificate Rate

    1.68000 %

LIBOR Rate

    1.42000 %

Maximum Rate

    4.07534 %

Weighted Average Mortgage Net Loan Rate

    4.07534 %
   

H. CREDIT ENHANCEMENT

       
   

Credit Enhancement Fee

    9,089.57  

Guaranteed Amount

    0.00  

Guaranteed Principal Distribution Amount

    0.00  

Credit Enhancement Draw Amount

    0.00  
   

I. SPREAD ACCOUNT

       
   

Beginning Spread Account Balance

    256,224.70  

Ending Spread Account Balance

    244,259.31  

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

    (11,965.40 )

Spread Account Maximum

    244,259.31  
   

J. DELINQUENCY & REO STATUS

       
   

Delinquent 30-59 days

       

No. of Accounts

    44  

Trust Balances

    1,173,245.24  

Delinquent 60-89 days

       

No. of Accounts

    23  

Trust Balances

    611,623.44  

Delinquent 90+ days

       

No. of Accounts

    50  

Trust Balances

    1,593,898.85  

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:

    8/20/04
      

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 August 2004

 

       

Bank One, N.A.

as Servicer

         

/s/    Philip C. McNiel

       

Philip C. McNiel

Vice President

 

Distribution List:

 

MBIA

Greg Kwasny, JP Morgan Trust Company, NA

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:

    8/20/04  
   

INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000 ORIGINAL

PRINCIPAL AMOUNT)

       
        

A. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS

       
        

Investor Certificate Interest Distributed

    0.286900  

Investor Certificate Interest Shortfall Distributed

    0.000000  

Remaining Unpaid Investor Certificate Interest Shortfall

    0.000000  

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

    0  

Investors Certificate Principal Distributed

    9.261216  

Principal Distribution Amount

    9.093169  

Maximum Principal Payment

    9.093169  

Alternative Principal Payment

    4.985498  

Principal Collections less Additional Balances

    4.985498  

Investor Loss Amount Distributed to Investors

    0.479147  

Accelerated Principal Distribution Amount

    -0.311100  

Credit Enhancement Draw Amount

    0.00  

Total Amount Distributed to Certificateholders (P & I)

    9.548116  
        

B. INVESTOR CERTIFICATE PRINCIPAL BALANCE

       
        

Beginning Investor Certificate Balance

    99,158,959.10  

Ending Investor Certificate Balance

    94,528,351.19  

Beginning Invested Amount

    102,489,880.21  

Ending Invested Amount

    97,703,722.16  

Investor Certificateholder Floating Allocation Percentage

    89.3967 %

Pool Factor

    0.1890567  

Liquidation Loss Amount for Liquidated Loans

    267,989.12  

Unreimbursed Liquidation Loss Amount

    0.00  
        

C. POOL INFORMATION

       
        

Beginning Pool Balance

    114,646,142.77  

Ending Pool Balance

    111,885,404.51  

Servicing Fee

    47,769.23  
        

D. INVESTOR CERTIFICATE RATE

       
        

Investor Certificate Rate

    1.680000 %

LIBOR Rate

    1.420000 %

Maximum Rate

    4.075336 %
        

E. DELINQUENCY & REO STATUS

       
        

Delinquent 30-59 days

       

No. of Accounts

    44  

Trust Balances

    1,173,245.24  

Delinquent 60-89 days

       

No. of Accounts

    23  

Trust Balances

    611,623.44  

Delinquent 90+ days

       

No. of Accounts

    50  

Trust Balances

    1,593,898.85  

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:

    8/20/04

 

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 August 2004

 

       

Bank One, N.A.

as Servicer

       

/s/    Philip C. McNiel

       

Philip C. McNiel

Vice President

 

Distribution List:

 

Greg Kwasny, JP Morgan Trust Company, NA