-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PDyE1jJ27Aazetbu7efleIqyjCQ15SRw3+4H6XdPt4r+gLipGH9IkqCavIgtRC7S uJKBa5eu0fDREsQQb9jE9g== 0001095226-99-000017.txt : 19991202 0001095226-99-000017.hdr.sgml : 19991202 ACCESSION NUMBER: 0001095226-99-000017 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19991130 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991201 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA MORTGAGE LOAN TRUST 1999-2 CENTRAL INDEX KEY: 0001092574 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 232723382 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-77927-02 FILM NUMBER: 99767150 BUSINESS ADDRESS: STREET 1: 10790 RANCHO BERNARDO ROAD STREET 2: C/O GENERAL COUNSEL CITY: SAN DIEGO STATE: CA ZIP: 92127 BUSINESS PHONE: 2156574000 MAIL ADDRESS: STREET 1: WELSH & MCKEAN ROADS STREET 2: P O BOX 844 CITY: SPRNG HOUSE STATE: PA ZIP: 19034 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: November 26, 1999 ADVANTA Mortgage Loan Trust 1999-2 New York 333-77927-02 Pending c/o ADVANTA Mortgage Corp., USA Attn: H. John Berens 10790 Rancho Bernardo Road San Diego, CA 92127 (858) 676-3099 Item 5. Other Events Information relating to the distributions to Certificate holders for the October 1999 Monthly Period of the Trust in respect of the Mortgage Loan Asset-Backed Certificates, Series 1999-2 Class A (the "Certificates") issued by the Registrant and the performance of the Trust (including distributions of principal and interest, delinquent balances of Home Equity Loans, and the Subordinated amount remaining), together with certain other information relating to the certificates, is contained in the Monthly Report for the Monthly Period provided to certificateholders pursuant to the Pooling and Servicing Agreement (the "Agreement") dated as of May 1, 1999 between ADVANTA Mortgage Corp., USA as Servicer, and Bankers Trust Company, as Trustee. Item 7. Financial Statements, Exhibits Exhibit No. Exhibit 1. Monthly Report for the October 1999 Monthly period relating to the Mortgage Loan Asset- Backed Certificates Series 1999-2, Class A issued by the ADVANTA Mortgage Loan Trust 1999-2. EXHIBIT INDEX Exhibit 1. Monthly Report for the October 1999 Monthly Period relating to the Mortgage Loan Asset-Backed Certificates, Series 1999-2, Class A issued by the ADVANTA Mortgage Loan Trust 1999-2. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ADVANTA Mortgage Loan Trust 1999-2 BY: ADVANTA Mortgage Corp., USA BY: /s/ H. John Berens H. John Berens Senior Vice President Advanta Mortgage November 26, 1999 EXHIBIT 1
ADVANTA Mortgage Loan Trust 1999-2 Statement to Certificateholders Distribution in Dollars - Current Period Prior Original Principal Total Realized Class Face Value Balance Interest Principal Distribution Losses A-1 114,000,000 93,931,529 459,9 4,717,817 5,177,76 A-2 90,000,00 90,000,000 474,0 474,0 A-3 40,000,00 40,000,000 214,6 214,6 A-4 95,000,00 95,000,000 545,4 545,4 A-5 31,700,00 31,700,000 188,8 188,8 A-6 41,000,00 41,000,000 233,0 233,0 A-7 105,800,000 98,602,809 493,3 2,146,215 2,639,55 B BS R Totals 517,500,000 490,234,338. 2,609,31 6,864,033 9,473,34
Current Deferred Principal Class Interest Balance A-1 89,213,711.37 A-2 90,000,000.00 A-3 40,000,000.00 A-4 95,000,000.00 A-5 31,700,000.00 A-6 41,000,000.00 A-7 96,456,593.62 B - BS - R - Totals 483,370,304.99
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face
Orig. Principal Prior Period Period (with Notional) Principal Class Starting Ending Method Cusip Balance Balance A-1 10/25/99 11/25/99 A-Act/360 00755WGN0 114,000,000. 823.960 A-2 F-30/360 00755WGP5 90,000,000 1,000.0000 A-3 F-30/360 00755WGQ3 40,000,000 1,000.0000 A-4 F-30/360 00755WGR1 95,000,000 1,000.0000 A-5 A-30/360 00755WGS9 31,700,000 1,000.0000 A-6 A-30/360 00755WGT7 41,000,000 1,000.0000 A-7 10/25/99 11/25/99 A-Act/360 00755WGU4 105,800,000. 931.973 B BS R
Current Total Principal Class Interest Principal Distribution Balance A-1 4. 41.3 45.4 782.576416 A-2 5. 5.2 1,000.000000 A-3 5. 5.3 1,000.000000 A-4 5. 5.7 1,000.000000 A-5 5. 5.9 1,000.000000 A-6 5. 5.6 1,000.000000 A-7 4. 20.2 24.9 911.688030 B - BS - R -
Distribution in Dollars - To Date
Original Unscheduled Scheduled Total Total Class Face Value Interest Principal Principal Principal Distribution A-1 114,000,000 2,715,75 21,882,240 2,904,048 24,786,288 27,502,046. A-2 90,000,00 2,844,00 2,844,000 A-3 40,000,00 1,288,00 1,288,000 A-4 95,000,00 3,272,74 3,272,749 A-5 31,700,00 1,133,27 1,133,275 A-6 41,000,00 1,398,10 1,398,100 A-7 105,800,000 2,728,86 9,005,64 337,75 9,343,40 12,072,274. B BS R 192,5 192,58 Totals 517,500,000 15,573,335 30,887,888 3,241,806 34,129,695 49,703,030.
Current Realized Deferred Principal Class Losses Interest Balance A-1 89,213,711.37 A-2 90,000,000.00 A-3 40,000,000.00 A-4 95,000,000.00 A-5 31,700,000.00 A-6 41,000,000.00 A-7 96,456,593.62 B - BS - R - Totals 483,370,304.99
Interest Detail
Pass Prior Principal Non- Prior Unscheduled Through (with Notional) Accrued Supported Unpaid Interest Class Rate Balance Interest Interest SF Interest Adjustments A-1 5.50875% 93,931,529 459,9 A-2 6.32000% 90,000,000 474,0 A-3 6.44000% 40,000,000 214,6 A-4 6.89000% 95,000,000 545,4 A-5 7.15000% 31,700,000 188,8 A-6 6.82000% 41,000,000 233,0 A-7 5.62875% 98,602,809 493,3 B BS R Totals 490,234,338. 2,609,31
Paid or Current Optimal Deferred Unpaid Class Interest Interest Interest A-1 459,9 459,9 - A-2 474,0 474,0 - A-3 214,6 214,6 - A-4 545,4 545,4 - A-5 188,8 188,8 - A-6 233,0 233,0 - A-7 493,3 493,3 - B - BS - R - Totals 2,609,3 2,609,31 -
Collection Account Report
Summary Adjustable Fixed Total Principal Collections 1,911,250 3,954,71 5,865,966 Principal Withdrawals Principal Other Accounts TOTAL PRINCIPAL 1,911,250 3,954,71 5,865,966 Interest Collected 790,26 3,126,91 3,917,182 Interest Withdrawals Interest Other Accounts Fees (61,9 (247,8 (309,79 TOTAL INTEREST 728,30 2,879,07 3,607,382 TOTAL AVAILABLE TO CERTIFICATEHOLDERS 2,639,558 6,833,79 9,473,348
Principal - Collections Adjustable Fixed Total Scheduled Principal 51,1 485,8 536,96 Curtailments Prepayments in Full 1,802,479 3,402,64 5,205,125 Repurchased Principal Amounts 57,6 57,6 Substitution Principal Amount Liquidations 66,2 66,2 Insurance Principal Other Principal Total Realized Loss of Principal TOTAL PRINCIPAL COLLECTED 1,911,250 3,954,71 5,865,966
Collection Account Report
Principal - Withdrawals Adjustable Fixed Total SPACE INTENTIONALLY LEFT BLANK
Principal - Other Accounts Adjustable Fixed Total Amounts Remaining in Pre-Funding Account
Interest - Collections Adjustable Fixed Total Scheduled Interest 804,11 3,173,91 3,978,034 Repurchased Interest Substitution Interest Amount Liquidation Interest Insurance Interest Other Interest Delinquent Interest (193,97 (650,6 (844,59 Interest Advanced 179,70 603,0 782,78 Prepayment Interest Shortfalls (1, (1,6 Compensating Interest 1, 1,6 Civil Relief Act Shortfalls TOTAL INTEREST COLLECTED 790,26 3,126,91 3,917,182
Collection Account Report
Interest - Withdrawals Adjustable Fixed Total Current Nonrecoverable Advances TOTAL INTEREST WITHDRAWALS
Interest - Other Accounts Adjustable Fixed Total Capitalized Interest Requirement Pre-Funding Account Earnings Capitalized Interest Account
Interest - Fees Adjustable Fixed Total Current Servicing Fees 48,3 199,7 248,08 Trustee Fee Amount 2, 3,7 Insurance Premium Amount 12,8 45,1 58,0 TOTAL FEES 61,9 247,8 309,79
Credit Enhancement Report
Accounts Adjustable Fixed Total SPACE INTENTIONALLY LEFT BLANK
Insurance Adjustable Fixed Total Total Insured Payments
Structural Features Adjustable Fixed Total Specified Overcollateralization Amount 5,555,670.07 6,175,500.00 11,731,170.07 Current Overcollateralization Amount 1,813,632.43 4,786,614.93 6,600,247.36 Overcollateralization Deficiency Amount 3,977,002.88 2,151,987.24 6,128,990.12 Overcollateralization Deficit Amount Overcollateralization Increase Amount 234,965.24 763,102.17 998,067.41 Overcollateralization Reduction Amount Components of Change in Overcollateralization* Excess Interest Generated by Pool 234,965.24 763,102.17 998,067.41 Pre-Funding Account Interest Earnings Additional Principal TOTAL 234,96 763,102.17 998,067.41 *(NOTE: If at specified amount, components will not equal increase amount)
Collateral Report
Collateral Adjustable Fixed Total Loan Count: Original Prior Prefunding Scheduled Paid Offs Full Voluntary Prepayments Repurchases Liquidations Current Principal Balance Original 105,822,287.04 372,463,932.96 478,286,220.00 Prior 100,181,476.48 395,655,042.08 495,836,518.56 Prefunding Scheduled Principal (51,131.87) (485,828.79) (536,960.66) Partial and Full Voluntary Prepayments (1,802,479 (3,402,64 (5,205,125 Repurchases (57,6 (57,6 Liquidations (66,2 (66,2 Current 98,270,226. 391,700,326. 489,970,552.
Prefunding Adjustable Fixed Total PRE-FUNDING ACCOUNT Original Pre-Funded Amount 39,236,067.04 39,236,067.04 Balance of Subsequent Mortgage Loans Added This Period Pre-Funding Account Earnings Withdrawal Account Earnings Pre-Funding Account Ending Balance CAPITALIZED INTEREST ACCOUNT Original Capitalized Interest Deposit 192,583.70 192,583.70 Capitalized Interest Requirement Withdrawal Remaining Amounts Capitalized Interest Account Ending Balance
Collateral Report
Characteristics Adjustable Fixed Total Weighted Average Coupon Original 9.671422% 9.655530% 9.659046% Weighted Average Coupon Prior 9.649573% 9.633952% 9.637118% Weighted Average Coupon Current 9.636915% 9.627981% 9.629786% Weighted Average Months to Maturity Original 351 247 270 Weighted Average Months to Maturity Prior 347 245 266 Weighted Average Months to Maturity Current 346 244 264 Weighted Average Remaining Amortization Term Original 352 306 316 Weighted Average Remaining Amortization Term Prior 347 300 310 Weighted Average Remaining Amortization Term Current 347 299 308 Weighted Average Seasoning Original 3.25 2.14 2.39 Weighted Average Seasoning Prior 7.17 6.33 6.50 Weighted Average Seasoning Current 8.14 7.32 7.48 Note: Original information refers to deal issue
Collateral Report
Arm Characteristics Adjustable Fixed Total Weighted Average Margin Original 5.830% Weighted Average Margin Prior 5.797% Weighted Average Margin Current 5.782% Weighted Average Max Rate Original 16.631% 9.656% Weighted Average Max Rate Prior 16.613% 8.712% Weighted Average Max Rate Current 16.602% 8.709% Weighted Average Min Rate Original 9.410% 8.906% Weighted Average Min Rate Prior 9.384% 8.034% Weighted Average Min Rate Current 9.368% 8.030% Weighted Average Cap Up Original 1.017% Weighted Average Cap Up Prior 1.016% Weighted Average Cap Up Current 1.014% Weighted Average Cap Down Original 1.017% Weighted Average Cap Down Prior 1.016% Weighted Average Cap Down Current 1.014% Note: Original information refers to deal issue
Servicing Fees / Advances Adjustable Fixed Total Current Servicing Fees 48,3 199,7 248,08 Delinquent Servicing Fees 14,2 47,5 61,8 TOTAL SERVICING FEES 62,6 247,2 309,89 Total Servicing Fees 62,6 247,2 309,89 Compensating Interest (1, (1,6 Delinquent Servicing Fees (14,2 (47,5 (61,8 COLLECTED SERVING FEES 48,3 198,0 246,41 Prepayment Interest Shortfall 1, 1,6 Total Advanced Interest 179,70 603,0 782,78 Current Nonrecoverable Advances Unreimbursed Advances Paid to Servicer This Period
Additional Collateral Information Adjustable Fixed Total Weighted Average Coupon Next 9.629920% 9.620398% 9.622308%
Delinquency Report - Total
Current 1 Payment 2 Payments 3+ Payments Total DELINQUENT Balance 7,955,68 3,114,061 432,1 11,501,923. % Balance 1.62% 0.64% 0.09% 2.35% # Loans 135 44 11 190 % # Loans 2.04% 0.66% 0.17% 2.87% FORECLOSURE Balance 60,3 6,999,09 7,059,405 % Balance 0.00% 0.00% 0.01% 1.43% 1.44% # Loans 2 109 111 % # Loans 0.00% 0.00% 0.03% 1.65% 1.68% BANKRUPTCY Balance 1,776,53 356,7 125,62 1,193,54 3,452,407 % Balance 0.36% 0.07% 0.03% 0.24% 0.70% # Loans 22 17 45 % # Loans 0.33% 0.05% 0.05% 0.26% 0.69% REO Balance % Balance 0.00% 0.00% 0.00% 0.00% 0.00% # Loans % # Loans 0.00% 0.00% 0.00% 0.00% 0.00% TOTAL Balance 1,776,53 8,312,38 3,300,001 8,624,82 22,013,736. % Balance 0.36% 1.69% 0.68% 1.76% 4.49% # Loans % # Loans 0.33% 2.09% 0.74% 2.08% 5.24% Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+
Delinquency Report - Fixed Group
Current 1 Payment 2 Payments 3+ Payments Total DELINQUENT Balance 5,613,47 2,048,784 391,7 8,054,059 % Balance 1.43% 0.52% 0.10% 2.05% # Loans % # Loans 1.83% 0.54% 0.18% 2.55% FORECLOSURE Balance 30,7 5,000,17 5,030,910 % Balance 0.00% 0.00% 0.01% 1.28% 1.29% # Loans % # Loans 0.00% 0.00% 0.02% 1.50% 1.52% BANKRUPTCY Balance 1,138,87 356,7 125,62 883,8 2,505,027 % Balance 0.29% 0.09% 0.03% 0.23% 0.64% # Loans % # Loans 0.33% 0.05% 0.05% 0.25% 0.68% REO Balance % Balance 0.00% 0.00% 0.00% 0.00% 0.00% # Loans % # Loans 0.00% 0.00% 0.00% 0.00% 0.00% TOTAL Balance 1,138,87 5,970,17 2,205,150 6,275,79 15,589,997. % Balance 0.29% 1.52% 0.56% 1.61% 3.98% # Loans % # Loans 0.33% 1.88% 0.61% 1.93% 4.75% Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+
Delinquency Report - Adjustable Group
Current 1 Payment 2 Payments 3+ Payments Total DELINQUENT Balance 2,342,20 1,065,276 40,3 3,447,864 % Balance 2.38% 1.08% 0.04% 3.50% # Loans % # Loans 3.11% 1.28% 0.09% 4.48% FORECLOSURE Balance 29,5 1,998,92 2,028,494 % Balance 0.00% 0.00% 0.03% 2.03% 2.06% # Loans % # Loans 0.00% 0.00% 0.09% 2.37% 2.46% BANKRUPTCY Balance 637,6 309,7 947,37 % Balance 0.65% 0.00% 0.00% 0.32% 0.97% # Loans % # Loans 0.37% 0.00% 0.00% 0.27% 0.64% REO Balance % Balance 0.00% 0.00% 0.00% 0.00% 0.00% # Loans % # Loans 0.00% 0.00% 0.00% 0.00% 0.00% TOTAL Balance 637,6 2,342,20 1,094,851 2,349,02 6,423,738 % Balance 0.65% 2.38% 1.11% 2.39% 6.53% # Loans % # Loans 0.37% 3.11% 1.37% 2.73% 7.58% Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+
Prepayment Report - Voluntary Prepayments
Voluntary Prepayments Adjustable Fixed Total Current Number of Paid in Full Loans 21 55 76 Number of Repurchased Loans Total Number of Loans Prepaid in Full 22 55 77 Paid in Full Balance 1,802,479 3,402,64 5,205,125 Repurchase Loans Balance 57,6 57,6 Curtailments Amount Total Prepayment Amount 1,860,118 3,402,64 5,262,764 Cumulative Number of Paid in Full Loans 75 270 345 Number of Repurchased Loans 2 3 5 Total Number of Loans Prepaid in Full 77 273 350 Paid in Full Balance 7,103,026 16,546,252 23,649,279. Repurchase Loans Balance 111,63 179,0 290,63 Curtailments Amount ( (13,4 (13,8 Total Prepayment Amount 7,214,302 16,711,803 23,926,106. SPACE INTENTIONALLY LEFT BLANK
Prepayment Report - Voluntary Prepayments
Voluntary Prepayment Rates Adjustable Fixed Total SMM 1.86% 0.86% 1.06% 3 Months Average SMM 1.54% 0.84% 0.98% 12 Months Average SMM Average SMM Since Cut-Off 1.17% 0.70% 0.79% CPR 20.15% 9.86% 12.03% 3 Months Average CPR 17.00% 9.62% 11.16% 12 Months Average CPR Average CPR Since Cut-Off 13.20% 8.04% 9.12% PSA 1237.71% 673.30% 803.74% 3 Months Average PSA Approximation 1187.01% 760.03% 859.10% 12 Months Average PSA Approximation Average PSA Since Cut-Off Approximation 1159.16% 837.12% 913.78%
Realized Loss Report - Collateral
Collateral Realized Losses Adjustable Fixed Total Current Number of Loan Liquidated Collateral Realized Loss / (Gain) Amount Net Liquidation Proceeds 66,2 66,2 Cumulative Number of Loans Liquidated Collateral Realized Loss / (Gain) Amount 24,9 24,9 Net Liquidation Proceeds 295,1 295,14 Note: Collateral realized losses may include adjustments to loans liquidated in prior periods. SPACE INTENTIONALLY LEFT BLANK
Realized Loss Report - Collateral
Default Speeds Adjustable Fixed Total MDR 0.00% 0.02% 0.01% 3 Months Average MDR 0.00% 0.03% 0.02% 12 Months Average MDR Average MDR Since Cut-Off 0.00% 0.01% 0.01% CDR 0.00% 0.20% 0.16% 3 Months Average CDR 0.00% 0.32% 0.25% 12 Months Average CDR Average CDR Since Cut-Off 0.00% 0.16% 0.13% SDA 0.00% 1.37% 1.07% 3 Months Average SDA Approximation 0.00% 2.51% 1.95% 12 Months Average SDA Approximation Average SDA Since Cut-Off Approximation 0.00% 1.66% 1.27% Loss Severity Approximation for Current Period 0.00% 0.00% 3 Months Average Loss Severity Approximation 0.00% 4.92% 4.92% 12 Months Average Loss Severity Approximation Average Loss Severity Approximation Since Cut-Off 0.00% 4.92% 4.92%
Triggers, Adj. Rate Cert. And Miscellaneous Report
Trigger Events Adjustable Fixed Total Has Servicer Termination Loss Trigger Occurred? No
Adjustable Rate Certificate Information Adjustable Fixed Total Next Pass-Through Rates for Adjustable Rate Certificates Class A-1 5.690000% Class A-5 7.150000% Class A-6 6.820000% Class A-7 5.810000%
Additional Information Adjustable Fixed Total SUPPLEMENTAL INTEREST ACCOUNT Supplemental Interest Amount Supplemental Interest Shortfall Carry-Forward Amount Supplemental Interest Shortfall Amount Deposit to Supp Int Acct (Class B Distribution) Payment to Supplemental interest Right Supplemental Interest Account Ending Balance
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