EX-99.1 2 dex991.htm MONTHLY STATEMENT DATED SEPTEMBER 20, 2005 Monthly Statement dated September 20, 2005

Exhibit 99.1

 

ABS Corporation         Page  1
Banc One Home Equity Loan Trust 1999-1          
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     

 

     BALANCE
     MARGIN
  
CERTIFICATES INFORMATION               

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         Page  2
Banc One Home Equity Loan Trust 1999-1          
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     

 

INPUT SECTION (PAGE 1 of 1)         

MONTH:

      75  

DISTRIBUTION DATE:

      9/20/05  

DETERMINATION DATE:

      9/15/05  
       29  
MORTGAGE LOANS PAYMENT SUMMARY         

COLLECTION PERIOD:

         

MTGE LOANS INTEREST RECEIVED

    $ 491,786.99  

MTGE LOANS PRINCIPAL RECEIVED

    $ 3,365,309.90  

MTGE LOANS NET LIQUIDATION PROCEEDS (ALLOC. TO INTEREST)

    $ 4,402.18  

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)

    $ 2,022,261.35  

MTGE LOANS LIQUIDATION LOSS AMOUNT

    $ 32,849.73  

MTGE LOANS TOTAL ENDING PRINCIPAL BALANCE

    $ 83,232,210.52  

AVERAGE MTGE LOANS RATE

      6.90123 %
DELINQUENCY & REO SUMMARY         

DEL STAT 1 - NO. OF ACCTS

      43  

DEL STAT 1 - CURRENT BALANCE

    $ 1,048,196.12  

DEL STAT 2 - NO. OF ACCTS

      10  

DEL STAT 2 - CURRENT BALANCE

    $ 361,559.74  

DEL STAT 1+ - NO. OF ACCTS

      93  

DEL STAT 1+ - CURRENT BALANCE

    $ 2,807,353.60  

DEL STAT 3+ - NO. OF ACCTS

      40  

DEL STAT 3+ - CURRENT BALANCE

    $ 1,397,597.74  

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.

      73.7506 %

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

      1.250 %

RECALCULATED WEIGHTED AVERAGE GROSS MARGIN

      0.651 %

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

      YES  
OTHER INFORMATION         

LIBOR RATE FOR CURRENT INTEREST PERIOD

      3.60938 %

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         Page  3
Banc One Home Equity Loan Trust 1999-1          
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     

 

Detailed Information (Page 1 of 5)       

Distribution Date:

    9/20/05  

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

    3.60938 %

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

    6.19669 %

Maximum Rate

    6.19669 %

Investor Certificate Rate (LIBOR + 26 bps)

    3.86938 %

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

    0  

Interest Period (Days)

    29  

Beginning Pool Balance

    84,608,108.80  

Beginning Investor Certificate Principal Balance

    46,020,410.19  

Beginning Transferor Principal Balance

    36,208,697.14  

Beginning Invested Amount

    48,399,411.66  

Investor Floating Allocation Percentage

    57.2042 %

Liquidation Loss Amount

    32,849.73  

Servicing Fee

    35,253.38  

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

    491,786.99  

Mtge Loans Principal

    3,365,309.90  

Mtge Loans Net Liquidation Proceeds

    4,402.18  

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

    3,861,499.07  

Mtge Loans Interest

    491,786.99  

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

    4,402.18  

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

    496,189.17  

Mtge Loans Principal

    3,365,309.90  

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

    3,365,309.90  

Interest Collections

    496,189.17  

Principal Collections

    3,365,309.90  

Investor & Transferor Interest & Principal Allocation

       

Investor Interest Collections

    283,841.16  

Investor Principal Collections

    3,297,996.49  

Transferor Interest Collections

    212,348.01  

Transferor Principal Collections

    67,313.41  

(Check)

    0.00  

Investor Loss Amount

    18,791.43  

Transferor Loss Amount

    14,058.30  

ABS Corporation         Page  4
Banc One Home Equity Loan Trust 1999-1          
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     

 

Detailed Information (Page 2 of 5)       

Distribution Date:

    9/20/05  

Investor Interest Collections

    283,841.16  

less Investor Servicing Fee

    20,166.42  

less Unpaid Servicing Fee

    0.00  

less Investor Certificate Interest

    143,445.64  

less Unpaid Investor Certificate Interest Shortfall

    0.00  

less Credit Enhancement Premium

    4,218.54  

less Investor Loss Amount

    18,791.43  

less Unpaid Investor Loss Amount

    0.00  

less Unreimbursed Draw Amounts

    0.00  

Excess Interest

    97,219.13  

less Accelerated Principal Distribution Amount

    8,291.97  

less Deposit to (Release from) Spread Account

    (8,291.97 )

Remaining Excess Interest

    97,219.13  

Investor Distributions

       

Investor Certificate Interest

    143,445.64  

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

    0  

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

    1  

Principal Collections less Additional Balances

    1,343,048.55  

Alternative Principal Payment

    1,343,048.55  

Maximum Principal Collections

    3,297,996.49  

Principal Distribution Amount

    3,297,996.49  

Investor Loss Amount Distributed to Investors

    18,791.43  

Excess Interest Paid as Principal

    8,291.97  

Transferor Distributions

       

Transferor Interest Collections (net of Transferor Servicing Fee)

    197,261.05  

Funds Released from Spread Account

    0.00  

Principal Distributions (including Transferor Principal Collections)

    67,313.41  

Excess Int. (Shortfall) a/ Interest

    140,395.52  

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

    136,176.98  

Excess Int. (Shortfall) a/ Losses

    117,385.55  

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)

    3,468,525.53  

Credit Enhancement Draw Amount

    0.00  

Guaranteed Principal Distribution Amount

    0.00  

Guaranteed Amount

    0.00  

ABS Corporation         Page  5
Banc One Home Equity Loan Trust 1999-1          
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     

 

Detailed Information (Page 3 of 5)       

Distribution Date:

    9/20/05  

Beginning Pool Balance

    84,608,108.80  

Interest Distribution

    496,189.17  

Principal Distribution

    3,365,309.90  

Additional Balances

    2,022,261.35  

Liquidation Loss Amount

    32,849.73  

Ending Pool Balance

    83,232,210.52  

Beginning Investor Certificate Principal Balance

    46,020,410.19  

Investor Certificate Interest

    143,445.64  

Unpaid Investor Certificate Interest Shortfall distributed

    0.00  

Investor Certificate Principal

    3,325,079.89  

Ending Investor Certificate Principal Balance

    42,695,330.30  

Pool Factor

    0.0853907  

Beginning Transferor Balance

    36,208,697.14  

Interest Distribution (including funds released from Spread Account)

    212,348.01  

Principal Distribution (including Unallocated Transferor Principal Collections)

    67,313.41  

Additional Balances

    2,022,261.35  

Losses allocated to Transferor

    14,058.30  

Ending Transferor Balance

    38,149,586.78  

Minimum Transferor Interest

    4,161,610.53  

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

    48,399,411.66  

Principal Distribution Amount

    3,297,996.49  

Investor Loss Reduction Amount

    18,791.43  

Ending Invested Amount

    45,082,623.74  

Beginning Total OC Amount

    2,379,001.47  

Ending Total OC Amount

    2,387,293.44  

Ending Total OC Amount (% of Original Invested Amount)

    0.48 %

Spread Account Cap Amount

    112,706.56  

Beginning Spread Account Balance

    120,998.53  

Draw from Account to Pay Credit Enhancer

    0.00  

Deposit to (Release from)

    (8,291.97 )

Ending Spread Account Balance

    112,706.56  

Ending Spread Account Balance (% of Ending Invested Amount)

    0.25 %

Unreimbursed Draw on Surety Bond

    0.00  

ABS Corporation         Page  6
Banc One Home Equity Loan Trust 1999-1          
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     

 

Detailed Information (Page 4 of 5)         

Distribution Date:

      9/20/05  

Beginning Insured Principal Amount

    $ 46,020,410.19  

Ending Insured Principal Amount

    $ 42,695,330.30  

Available Credit Enhancement

      0.49 %

Investor Distribution Amount

      3,468,525.53  

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

      264,574.46  

Investor Loss Amount Reimbursed from Excess Interest

      18,791.43  

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

      2,387,293.44  

Cum. Principal Payments (Including ECPB & APDA)

      457,304,669.70  

Cum. Principal Payments (Excluding ECPB & APDA)

      454,909,084.29  

Cum. OC Amount

      2,387,293.44  

Cum. SA Deposits

      112,706.56  

Cum. Liquidation Losses

      8,851,167.45  

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)

      0.599 %

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         Page  7
Banc One Home Equity Loan Trust 1999-1          
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     

 

Detailed Information (Page 5 of 5)       

Distribution Date:

    9/20/05  
SOURCES OF FUNDS:       

Mtge Loans Interest

    491,786.99  

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

    4,402.18  

Mtge Loans Insurance Proceeds (Alloc. to Int.)

    0.00  

Mtge Loans Purchase Price (Alloc. to Int.)

    0.00  

Mtge Loans Principal

    3,365,309.90  

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

    3,861,499.07  
USES OF FUNDS       

Servicing Fee

    35,253.38  

Investor Interest Distribution

    143,445.64  

Accrued and Unpaid Investor Interest Distributed

    0.00  

Investor Principal Distribution

    3,325,079.89  

Transferor Distribution (not including Cash Released to Transferor)

    264,574.46  

Unallocated Transferor Principal Collections

    0.00  

Accrued and Unpaid Servicing Fee Distributed

    0.00  

Credit Enhancement Premium Distributed

    4,218.54  

Cash Deposited to (Released from) Spread Account

    (8,291.97 )

Cash Released to Transferor

    97,219.13  

Total

    3,861,499.07  
PERFORMANCE PARAMETERS       

Aggregate Amount of Locked Balances

    658,730.06  

Aggregate Amount of Locked Balances - %

    0.791 %

Portfolio CLTV as of the End of the Collection Period

    73.751 %

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         Page  8
Banc One Home Equity Loan Trust 1999-1          
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     

 

Servicer Certificate (Page 1 of 3)

 

Distribution Date:

      9/20/05  

A.     POOL INFORMATION

         

Aggregate Amount of Collections

      3,861,499.07  

Aggregate Amount of Interest Collections

      496,189.17  

Aggregate Amount of Principal Collections

      3,365,309.90  

Transfer Deposit Amount

      0.00  

Beginning Pool Balance

      84,608,108.80  

Ending Pool Balance

      83,232,210.52  

Additional Balances

      2,022,261.35  

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)

      0.599 %

Servicing Fee

      35,253.38  

Unpaid Servicing Fee Received

      0.00  

Remaining Accrued and Unpaid Servicing Fee

      0.00  

B.     INTEREST, PRINCIPAL & LOSS ALLOCATION

         

Investor Certificateholder Floating Allocation Percentage

      57.20 %

Investor Certificateholder Fixed Allocation Percentage

      98.00 %

Investor Interest Collections

      283,841.16  

Investor Principal Collections

      3,297,996.49  

Transferor Interest Collections

      212,348.01  

Transferor Principal Collections

      67,313.41  

Investor Loss Amount

      18,791.43  

Beginning Invested Amount

      48,399,411.66  

Ending Invested Amount

      45,082,623.74  

C.     INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS

         

Investor Certificate Interest Distributed

      143,445.64  

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

      3,297,996.49  

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

      0  

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

      1  

Maximum Principal Collections Payment

      3,297,996.49  

Alternative Principal Payment

      1,343,048.55  

Principal Collections less Additional Balances

      1,343,048.55  

Investor Loss Amount Distributed to Investors

      18,791.43  

Accelerated Principal Distribution Amount

      8,291.97  

D.     INVESTOR CERTIFICATE PRINCIPAL BALANCE

         

Beginning Certificate Principal Balance

      46,020,410.19  

Ending Certificate Principal Balance

      42,695,330.30  

Pool Factor

      0.0853907  

ABS Corporation         Page  9
Banc One Home Equity Loan Trust 1999-1          
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     

 

Servicer Certificate (Page 2 of 3)

 

Distribution Date:

    9/20/05  

E.     DISTRIBUTIONS TO TRANSFEROR

       

Interest Distribution

    212,348.01  

Principal Distribution

    67,313.41  

Amount Distributed to Transferor

    0.00  

F.     TRANSFEROR BALANCE

       

Beginning Transferor Principal Balance

    36,208,697.14  

Ending Transferor Principal Balance

    38,149,586.78  

Minimum Transferor Balance

    4,161,610.53  

G.     INVESTOR CERTIFICATE RATE

       

Investor Certificate Rate

    3.86938 %

LIBOR Rate

    3.60938 %

Maximum Rate

    6.19669 %

Weighted Average Mortgage Net Loan Rate

    6.19669 %

H.     CREDIT ENHANCEMENT

       

Credit Enhancement Fee

    4,218.54  

Guaranteed Amount

    0.00  

Guaranteed Principal Distribution Amount

    0.00  

Credit Enhancement Draw Amount

    0.00  

I.      SPREAD ACCOUNT

       

Beginning Spread Account Balance

    120,998.53  

Ending Spread Account Balance

    112,706.56  

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

    (8,291.97 )

Spread Account Maximum

    112,706.56  

J.      DELINQUENCY & REO STATUS

       

Delinquent 30-59 days

       

No. of Accounts

    43  

Trust Balances

    1,048,196.12  

Delinquent 60-89 days

       

No. of Accounts

    10  

Trust Balances

    361,559.74  

Delinquent 90+ days

       

No. of Accounts

    40  

Trust Balances

    1,397,597.74  

Delinquent 9+ months

       

No. of Accounts

    0  

Trust Balances

    0.00  

REO

       

No. of Accounts

    0  

Trust Balances

    0.00  

ABS Corporation         Page  10
Banc One Home Equity Loan Trust 1999-1          
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     

 

Servicer Certificate (Page 3 of 3)     

Distribution Date:

    9/20/05

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 15th day of September 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         Page  11
Banc One Home Equity Loan Trust 1999-1          
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     

 

Statement to Certificateholders (Page 1 of 2)       

Distribution Date:

    9/20/05  

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

       

A.     INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS

       

Investor Certificate Interest Distributed

    0.286891  

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

    6.650160  

Principal Distribution Amount

    6.595993  

Maximum Principal Payment

    6.595993  

Alternative Principal Payment

    2.686097  

Principal Collections less Additional Balances

    2.686097  

Investor Loss Amount Distributed to Investors

    0.037583  

Accelerated Principal Distribution Amount

    0.016584  

Credit Enhancement Draw Amount

    0.00  

Total Amount Distributed to Certificateholders (P & I)

    6.937051  

B.     INVESTOR CERTIFICATE PRINCIPAL BALANCE

       

Beginning Investor Certificate Balance

    46,020,410.19  

Ending Investor Certificate Balance

    42,695,330.30  

Beginning Invested Amount

    48,399,411.66  

Ending Invested Amount

    45,082,623.74  

Investor Certificateholder Floating Allocation Percentage

    57.2042 %

Pool Factor

    0.0853907  

Liquidation Loss Amount for Liquidated Loans

    32,849.73  

Unreimbursed Liquidation Loss Amount

    0.00  

C.     POOL INFORMATION

       

Beginning Pool Balance

    84,608,108.80  

Ending Pool Balance

    83,232,210.52  

Servicing Fee

    35,253.38  

D.     INVESTOR CERTIFICATE RATE

       

Investor Certificate Rate

    3.869380 %

LIBOR Rate

    3.609380 %

Maximum Rate

    6.196689 %

E.     DELINQUENCY & REO STATUS

       

Delinquent 30-59 days

       

No. of Accounts

    43  

Trust Balances

    1,048,196.12  

Delinquent 60-89 days

       

No. of Accounts

    10  

Trust Balances

    361,559.74  

Delinquent 90+ days

       

No. of Accounts

    40  

Trust Balances

    1,397,597.74  

Delinquent 9+ Months

       

No. of Accounts

    0  

Trust Balances

    0  

REO

       

No. of Accounts

    0  

Trust Balances

    0.00  

ABS Corporation         Page  12
Banc One Home Equity Loan Trust 1999-1          
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     

 

 

Statement to Certificateholders (Page 2 of 2)

     

Distribution Date:

    9/20/05

 

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 15th day of September 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.

Banc One Home Equity Loan Trust 1999-1

Wire Instructions

 

Distribution Date:

    09/20/05     

Determination Date:

    09/15/05     

Wire Date:

    09/19/05     

Month:

    75     

 

Calculation of net wire to the Trustee:

            

Total Collections

         3,861,499.07  

Less:

            

Servicing fee retained by Servicer

   (35,253.38 )      

Transferor Distribution

   (264,574.46 )      

Other

   (97,219.13 )      

Collection A/C Interest

   (1,081.47 )      
   
     
          (398,128.44 )
         

Wire to Trustee

         3,463,370.63  
         

Wire Reconciliation:

            

Investor Interest Distribution

         143,445.64  

Accrued and Unpaid Investor Interest Distributed

         0.00  

Investor Principal Distribution

         3,325,079.89  

Credit Enhancement Premium Distributed

         4,218.54  

Unallocated Transferor Principal Collections held in Collection A/C

         0.00  

Cash Deposited to (Released from) Spread Account

         (8,291.97 )

Collection A/C Interest

         (1,081.47 )
         

Total Wire to Trustee

         3,463,370.63  
         

Check

         0.00  

 

Wire Instructions:     
Account    JPMorgan Chase Bank
ABA    113000609
Account    00103409232
Name    Structured #1
Attn    Bill Marshall
Ref    Banc One HELOC 1999-1 Acct. 10211809.1
Originator    Bank One, NA (Ohio)
Debit    g/l 151010 cc 2105
Call back    give name & telephone #