EX-99.1 2 dex991.htm MONTHLY STATEMENT TO CERTIFICATEHOLDERS DATED MARCH 21, 2005 Monthly Statement to Certificateholders dated March 21, 2005

Exhibit 99.1

 

   
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:

    69  

DISTRIBUTION DATE:

    3/21/05  

DETERMINATION DATE:

    3/16/05  
     27  
   

MORTGAGE LOANS PAYMENT SUMMARY

       

COLLECTION PERIOD:

       
   

MTGE LOANS INTEREST RECEIVED

    $474,900.79  

MTGE LOANS PRINCIPAL RECEIVED

    $3,467,406.46  

MTGE LOANS NET LIQUIDATION PROCEEDS (ALLOC. TO INTEREST)

    $1,149.96  

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)

    $1,507,242.43  

MTGE LOANS LIQUIDATION LOSS AMOUNT

    $163,458.27  
   

MTGE LOANS TOTAL ENDING PRINCIPAL BALANCE

    $95,961,719.45  
   

AVERAGE MTGE LOANS RATE

    5.94371 %
   

DELINQUENCY & REO SUMMARY

       

DEL STAT 1 - NO. OF ACCTS

    40  

DEL STAT 1 - CURRENT BALANCE

    $1,022,519.93  

DEL STAT 2 - NO. OF ACCTS

    24  

DEL STAT 2 - CURRENT BALANCE

    $655,953.95  

DEL STAT 1+ - NO. OF ACCTS

    105  

DEL STAT 1+ - CURRENT BALANCE

    $2,868,172.94  

DEL STAT 3+ - NO. OF ACCTS

    41  

DEL STAT 3+ - CURRENT BALANCE

    $1,189,699.06  
   

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.

    73.7634 %

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

    1.250 %

RECALCULATED WEIGHTED AVERAGE GROSS MARGIN

    0.694 %

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

    YES  
   

OTHER INFORMATION

       

LIBOR RATE FOR CURRENT INTEREST PERIOD

    2.59813 %

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:

    3/21/05  
   

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

    2.59813 %

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

    5.25229 %

Maximum Rate

    5.25229 %

Investor Certificate Rate (LIBOR + 26 bps)

    2.85813 %

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

    0  

Interest Period (Days)

    27  
   

Beginning Pool Balance

    98,085,341.75  

Beginning Investor Certificate Principal Balance

    69,765,660.18  

Beginning Transferor Principal Balance

    25,976,132.26  

Beginning Invested Amount

    72,109,209.49  

Investor Floating Allocation Percentage

    73.5168 %

Liquidation Loss Amount

    163,458.27  

Servicing Fee

    40,868.89  
   

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

    474,900.79  

Mtge Loans Principal

    3,467,406.46  

Mtge Loans Net Liquidation Proceeds

    1,149.96  

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

    3,943,457.21  
   

Mtge Loans Interest

    474,900.79  

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

    1,149.96  

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

    476,050.75  
   

Mtge Loans Principal

    3,467,406.46  

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

    3,467,406.46  
   

Interest Collections

    476,050.75  

Principal Collections

    3,467,406.46  
   

Investor & Transferor Interest & Principal Allocation

       

Investor Interest Collections

    349,977.30  

Investor Principal Collections

    3,398,050.90  

Transferor Interest Collections

    126,073.45  

Transferor Principal Collections

    69,355.56  

(Check)

    0.00  
   

Investor Loss Amount

    120,169.30  

Transferor Loss Amount

    43,288.97  
        

   
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:

    3/21/05  
   

Investor Interest Collections

    349,977.30  

less Investor Servicing Fee

    30,045.50  

less Unpaid Servicing Fee

    0.00  

less Investor Certificate Interest

    149,549.49  

less Unpaid Investor Certificate Interest Shortfall

    0.00  

less Credit Enhancement Premium

    6,395.19  

less Investor Loss Amount

    120,169.30  

less Unpaid Investor Loss Amount

    0.00  

less Unreimbursed Draw Amounts

    0.00  

Excess Interest

    43,817.82  

less Accelerated Principal Distribution Amount

    (15,026.78 )

less Deposit to (Release from) Spread Account

    (8,795.55 )

Remaining Excess Interest

    67,640.15  
   

Investor Distributions

       

Investor Certificate Interest

    149,549.49  

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

    0  

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

    1  

Principal Collections less Additional Balances

    1,960,164.03  

Alternative Principal Payment

    1,960,164.03  

Maximum Principal Collections

    3,398,050.90  

Principal Distribution Amount

    3,398,050.90  

Investor Loss Amount Distributed to Investors

    120,169.30  

Excess Interest Paid as Principal

    (15,026.78 )
   

Transferor Distributions

       

Transferor Interest Collections (net of Transferor Servicing Fee)

    115,250.06  

Funds Released from Spread Account

    0.00  

Principal Distributions (including Transferor Principal Collections)

    69,355.56  
   

Excess Int. (Shortfall) a/ Interest

    200,427.81  

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

    194,032.62  

Excess Int. (Shortfall) a/ Losses

    73,863.32  

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)

    3,652,742.91  

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:

    3/21/05  
   

Beginning Pool Balance

    98,085,341.75  

Interest Distribution

    476,050.75  

Principal Distribution

    3,467,406.46  

Additional Balances

    1,507,242.43  

Liquidation Loss Amount

    163,458.27  

Ending Pool Balance

    95,961,719.45  
   

Beginning Investor Certificate Principal Balance

    69,765,660.18  

Investor Certificate Interest

    149,549.49  

Unpaid Investor Certificate Interest Shortfall distributed

    0.00  

Investor Certificate Principal

    3,503,193.41  

Ending Investor Certificate Principal Balance

    66,262,466.77  

Pool Factor

    0.1325249  
   

Beginning Transferor Balance

    25,976,132.26  

Interest Distribution (including funds released from Spread Account)

    126,073.45  

Principal Distribution (including Unallocated Transferor Principal Collections)

    69,355.56  

Additional Balances

    1,507,242.43  

Losses allocated to Transferor

    43,288.97  

Ending Transferor Balance

    27,370,730.15  

Minimum Transferor Interest

    4,798,085.97  

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

    72,109,209.49  

Principal Distribution Amount

    3,398,050.90  

Investor Loss Reduction Amount

    120,169.30  

Ending Invested Amount

    68,590,989.30  
   

Beginning Total OC Amount

    2,343,549.31  

Ending Total OC Amount

    2,328,522.53  

Ending Total OC Amount (% of Original Invested Amount)

    0.47 %
   

Spread Account Cap Amount

    171,477.47  

Beginning Spread Account Balance

    180,273.02  

Draw from Account to Pay Credit Enhancer

    0.00  

Deposit to (Release from)

    (8,795.55 )

Ending Spread Account Balance

    171,477.47  

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:

    3/21/05  
   

Beginning Insured Principal Amount

    $69,765,660.18  

Ending Insured Principal Amount

    $66,262,466.77  
   

Available Credit Enhancement

    0.49 %

Investor Distribution Amount

    3,652,742.91  

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

    184,605.62  
   

Investor Loss Amount Reimbursed from Excess Interest

    120,169.30  

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

    2,328,522.53  

Cum. Principal Payments (Including ECPB & APDA)

    433,737,533.23  

Cum. Principal Payments (Excluding ECPB & APDA)

    431,424,037.48  

Cum. OC Amount

    2,328,522.53  

Cum. SA Deposits

    171,477.47  

Cum. Liquidation Losses

    8,731,330.05  

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)

    0.556 %
   

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:

    3/21/05  
   

SOURCES OF FUNDS:

       

Mtge Loans Interest

    474,900.79  

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

    1,149.96  

Mtge Loans Insurance Proceeds (Alloc. to Int.)

    0.00  

Mtge Loans Purchase Price (Alloc. to Int.)

    0.00  

Mtge Loans Principal

    3,467,406.46  

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

    3,943,457.21  
   

USES OF FUNDS

       

Servicing Fee

    40,868.89  

Investor Interest Distribution

    149,549.49  

Accrued and Unpaid Investor Interest Distributed

    0.00  

Investor Principal Distribution

    3,503,193.41  

Transferor Distribution (not including Cash Released to Transferor)

    184,605.62  

Unallocated Transferor Principal Collections

    0.00  

Accrued and Unpaid Servicing Fee Distributed

    0.00  

Credit Enhancement Premium Distributed

    6,395.19  

Cash Deposited to (Released from) Spread Account

    (8,795.55 )

Cash Released to Transferor

    67,640.15  

Total

    3,943,457.21  
   

PERFORMANCE PARAMETERS

       

Aggregate Amount of Locked Balances

    758,273.44  

Aggregate Amount of Locked Balances - %

        0.790%  

Portfolio CLTV as of the End of the Collection Period

        73.763%  

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:

     
   

Bill Marshall, JPMorgan Chase Bank, 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:

    3/21/05  
   

A. POOL INFORMATION

       
   

Aggregate Amount of Collections

    3,943,457.21  

Aggregate Amount of Interest Collections

    476,050.75  

Aggregate Amount of Principal Collections

    3,467,406.46  

Transfer Deposit Amount

    0.00  

Beginning Pool Balance

    98,085,341.75  

Ending Pool Balance

    95,961,719.45  

Additional Balances

    1,507,242.43  

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)

    0.556 %

Servicing Fee

    40,868.89  

Unpaid Servicing Fee Received

    0.00  

Remaining Accrued and Unpaid Servicing Fee

    0.00  
   

B. INTEREST, PRINCIPAL & LOSS ALLOCATION

       
   

Investor Certificateholder Floating Allocation Percentage

    73.52 %

Investor Certificateholder Fixed Allocation Percentage

    98.00 %

Investor Interest Collections

    349,977.30  

Investor Principal Collections

    3,398,050.90  

Transferor Interest Collections

    126,073.45  

Transferor Principal Collections

    69,355.56  

Investor Loss Amount

    120,169.30  

Beginning Invested Amount

    72,109,209.49  

Ending Invested Amount

    68,590,989.30  
   

C. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS

       
   

Investor Certificate Interest Distributed

    149,549.49  

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

    3,398,050.90  

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

    0  

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

    1  

Maximum Principal Collections Payment

    3,398,050.90  

Alternative Principal Payment

    1,960,164.03  

Principal Collections less Additional Balances

    1,960,164.03  

Investor Loss Amount Distributed to Investors

    120,169.30  

Accelerated Principal Distribution Amount

    (15,026.78 )
   

D. INVESTOR CERTIFICATE PRINCIPAL BALANCE

       
   

Beginning Certificate Principal Balance

    69,765,660.18  

Ending Certificate Principal Balance

    66,262,466.77  

Pool Factor

    0.1325249  
        

   
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:

    3/21/05  
   

E. DISTRIBUTIONS TO TRANSFEROR

       
   

Interest Distribution

    126,073.45  

Principal Distribution

    69,355.56  

Amount Distributed to Transferor

    0.00  
   

F. TRANSFEROR BALANCE

       
   

Beginning Transferor Principal Balance

    25,976,132.26  

Ending Transferor Principal Balance

    27,370,730.15  

Minimum Transferor Balance

    4,798,085.97  
   

G. INVESTOR CERTIFICATE RATE

       
   

Investor Certificate Rate

    2.85813 %

LIBOR Rate

    2.59813 %

Maximum Rate

    5.25229 %

Weighted Average Mortgage Net Loan Rate

    5.25229 %
   

H. CREDIT ENHANCEMENT

       
   

Credit Enhancement Fee

    6,395.19  

Guaranteed Amount

    0.00  

Guaranteed Principal Distribution Amount

    0.00  

Credit Enhancement Draw Amount

    0.00  
   

I. SPREAD ACCOUNT

       
   

Beginning Spread Account Balance

    180,273.02  

Ending Spread Account Balance

    171,477.47  

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

    (8,795.55 )

Spread Account Maximum

    171,477.47  
   

J. DELINQUENCY & REO STATUS

       
   

Delinquent 30-59 days

       

No. of Accounts

    40  

Trust Balances

    1,022,519.93  

Delinquent 60-89 days

       

No. of Accounts

    24  

Trust Balances

    655,953.95  

Delinquent 90+ days

       

No. of Accounts

    41  

Trust Balances

    1,189,699.06  

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:

    3/21/05
   

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 16th day of March 2005

 

JPMorgan Chase Bank, N.A. (formerly Bank One, N.A.)

as Servicer

/s/ Philip C. McNiel

 

Philip C. McNiel

Vice President

 

Distribution List:

 

MBIA

Bill Marshall, JPMorgan Chase Bank, N.A.

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:

    3/21/05  
   

INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000 ORIGINAL PRINCIPAL AMOUNT)

       
   

A. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS

       
   

Investor Certificate Interest Distributed

    0.299099  

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

    7.006387  

Principal Distribution Amount

    6.796102  

Maximum Principal Payment

    6.796102  

Alternative Principal Payment

    3.920328  

Principal Collections less Additional Balances

    3.920328  

Investor Loss Amount Distributed to Investors

    0.240339  

Accelerated Principal Distribution Amount

    -0.030054  

Credit Enhancement Draw Amount

    0.00  
   

Total Amount Distributed to Certificateholders (P & I)

    7.305486  
   

B. INVESTOR CERTIFICATE PRINCIPAL BALANCE

       
   

Beginning Investor Certificate Balance

    69,765,660.18  

Ending Investor Certificate Balance

    66,262,466.77  

Beginning Invested Amount

    72,109,209.49  

Ending Invested Amount

    68,590,989.30  

Investor Certificateholder Floating Allocation Percentage

    73.5168 %

Pool Factor

    0.1325249  

Liquidation Loss Amount for Liquidated Loans

    163,458.27  

Unreimbursed Liquidation Loss Amount

    0.00  
   

C. POOL INFORMATION

       
   

Beginning Pool Balance

    98,085,341.75  

Ending Pool Balance

    95,961,719.45  

Servicing Fee

    40,868.89  
   

D. INVESTOR CERTIFICATE RATE

       
   

Investor Certificate Rate

    2.858130 %

LIBOR Rate

    2.598130 %

Maximum Rate

    5.252292 %
   

E. DELINQUENCY & REO STATUS

       
   

Delinquent 30-59 days

       

No. of Accounts

    40  

Trust Balances

    1,022,519.93  

Delinquent 60-89 days

       

No. of Accounts

    24  

Trust Balances

    655,953.95  

Delinquent 90+ days

       

No. of Accounts

    41  

Trust Balances

    1,189,699.06  

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:

    3/21/05

 

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 16th day of March 2005

 

JPMorgan Chase Bank, N.A. (formerly Bank One, N.A.)

as Servicer

/s/ Philip C. McNiel

Philip C. McNiel

Vice President

 

Distribution List:

 

Bill Marshall, JPMorgan Chase Bank, N.A.