-----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, MO0UHbqajt2uIa0lGnHssKPclJGPOjjqn3yZRrks4WlELTNte6+SIA6T9rwwW9P3 ErdZJEmD7I0aywb1gA2pkQ== 0001019687-00-000339.txt : 20000331 0001019687-00-000339.hdr.sgml : 20000331 ACCESSION NUMBER: 0001019687-00-000339 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 19991231 FILED AS OF DATE: 20000330 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST ALLIANCE MORTGAGE LOAN TRUST 1999-4 CENTRAL INDEX KEY: 0001100333 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 952944875 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: SEC FILE NUMBER: 333-86411-01 FILM NUMBER: 589162 BUSINESS ADDRESS: STREET 1: C/O CHASE MANHATTAN BANK STREET 2: 450 WEST 33RD 15TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 2129468600 MAIL ADDRESS: STREET 1: C/O CHASE MANHATTAN BANK STREET 2: 450 WEST 33RD 15TH FL CITY: NEW YORK STATE: NY ZIP: 10001 10-K 1 FIRST ALLIANCE MORTGAGE ANNUAL 10-K (TRUST 1999-4) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K [ X ] ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended December 31, 1999 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] Commission File number 333-86411-01 First Alliance Mortgage Loan Trust 1999-4 New York 13-4106720 (State of other jurisdiction (I.R.S. Employer of Identification No.) incorporation or organization) First Alliance Mortgage Loan Trust 1999-4 C/O The Chase Manhattan Bank, as Trustee 450 West 33rd Street, 15th Floor New York, New York 10001-2697 Address of principal (Zip Code) executive offices) Registrant's telephone number, including area code: (212) 946-8600 Securities registered pursuant to Section 12(b) of the Act: None None (Title of each class) (Name of each exchange on which registered) None (Title of class) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No X . Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. Not applicable. State the aggregate market value of the voting stock held by non-affiliates of registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of specified date within 60 days prior to the date of filing. Not applicable. Number of shares of common stock outstanding as of December 31, 1999. Not applicable. Documents Incorporated by Reference. Not applicable. Index Part I Item 1 - BUSINESS Item 2 - PROPERTIES Item 3 - LEGAL PROCEEDINGS Item 4 - SUBMISSION OF MATTERS TO A VOTE OF SERCURITY HOLDERS Part II Item 5 - MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDE MATTERS Item 6 - SELECTED FINANCIAL DATA Item 7 - MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Item 7A - QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK Item 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Item 9 - CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE Part III Item 10 - DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT Item 11 - EXECUTIVE COMPENSATION Item 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT Item 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS Part IV Item 14 - EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K SIGNATURES INDEX TO EXHIBITS Exhibit 99.1 Exhibit 99.2 Exhibit 99.3 PART I ITEM 1 - BUSINESS Not Applicable. ITEM 2 - PROPERTIES Not Applicable. ITEM 3 - LEGAL PROCEEDINGS First Alliance Mortgage Company ("First Alliance")is not aware of any material pending legal proceedings involving either the First Alliance Mortgage Loan Trust 1999-4 (the "Trust") established pursuant to the Trust Agreement dated as of December 1, 1999 between First Alliance, as Seller and Servicer, and The Chase Manhattan Bank, as Trustee and Oversight Agent. ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS No matter has been submitted to a vote of the holders of beneficial interests in the Trust through the solicitation of proxies or otherwise. PART II ITEM 5 - MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDER MATTERS To the best knowledge of First Alliance, there is no established public trading market for any beneficial interests in the Trust. The Notes issued by the Trust are held by the Depository Trust Company ("DTC") which in turn maintains records of holders of beneficial interests in such Notes. Based on information obtained from DTC, as of December 31, 1999, there were 4 holders of the Fixed Rate Note and 4 holders of the Variable Rate Notes. ITEM 6 - SELECTED FINANCIAL DATA Not applicable. ITEM 7 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Not applicable. ITEM 7A - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Not applicable. ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA In addition to the information included in the Annual Compilation of Monthly Trustee's Statements attached as Exhibit 99.3 hereto, the gross servicing compensation paid to the Servicer for the year ended December 31, 1999 was $0.00. ITEM 9 - CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE There were no changes of accountants or disagreements on accounting or financial disclosures between the Issuer and its accountants. PART III ITEM 10 - DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT Not applicable. ITEM 11 - EXECUTIVE COMPENSATION Not applicable. ITEM 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets forth (i) the name and address of each entity owning more than 5% of the outstanding principal amount of the Notes issued by the Trust; (ii) the principal amount of the Notes owned by each and(iii) the percent that the principal amount of the Notes owned by such entity represents of the outstanding principal amount of the Notes. The information set forth in the table for the Notes is based upon information obtained from DTC and represents ownership of beneficial interests in the Notes held by DTC. First Alliance is not aware of any Schedules 13D or 13G filed with the Securities and Exchange Commission in respect of the Notes. Amount Owned ------------ Name and Address Class Principal Percent - ---------------- ----------- ----------- ----------- Boston Safe Deposit & Trust Co. A-1 $8,000,000 29% C/O Mellon Bank N.A. Three Mellon Bank Center, Room 153-3015 Pittsburgh, PA 15259 Chase Manhattan Bank A-1 $16,000,000 57% 4 New York Plaza, 13th Floor New York, NY 10004 CIBC World Markets Corp. A-1 $2,000,000 7% 200 Liberty Street, 6th Floor New York, NY 10281 Fifth Third Bank A-1 $2,000,000 7% Dept. 00850 - Proxy 38 Fountain Square Plaza Cincinnati, OH 45263 American Express Trust Company A-2 $2,000,000 3% 180 East 5th Street St. Paul, MN 55101 Investors Fiduciary Trust Company A-2 $33,075,000 44% 1776 Heritage Dr. No. Quincy, MA 02171 Northern Trust Company A-2 $30,000,000 40% 801 S. Canal C-IN Chicago, IL 60607 State Street Bank & Trust Company A-2 $10,000,000 13% 1776 Heritage Dr. No. Quincy, MA 02171 ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS None PART IV ITEM 14 - EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K (a) The following documents are filed as part of this report: 1. Financial Statements: Not applicable. 2. Financial Statement Schedules: Not applicable. 3. Exhibits: Exhibit No. Description 99.1 Statement of Compliance of the Servicer - First Alliance Mortgage Company 99.2 Annual Report of Independent Accountants with respect to the Servicer's overall servicing operations - Deloitte & Touche LLP 99.3 Annual Compilation of Monthly Trustee's Statements (b) Reports on Form 8-K. Reports on Form 8-K have been filed by the Issuer during the period covered by this report. Not Applicable SIGNATURES Pursuant to the requirements of Section 13 and 15(d) 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. FIRST ALLIANCE MORTGAGE COMPANY on behalf of First Alliance Mortgage Loan Trust 1999-4 By: /S/ Francisco Nebot ------------------------------ Name: Francisco Nebot Title: President and Chief Financial Officer Date: March 30, 2000 INDEX TO EXHIBITS Item 14(C) Exhibit No. Description 99.1 Statement of Compliance of the Servicer - First Alliance Mortgage Company 99.2 Annual Report of Independent Accountants with respect to the Servicers' overall servicing operations - Deloitte & Touche LLP 99.3 Annual Compilation of Monthly Trustee's Statements EX-99.1 2 STATEMENT OF COMPLIANCE OF THE SERVICER Exhibit 99.1 FIRST ALLIANCE MORTGAGE LOAN TRUST 1999-4 OFFICER'S CERTIFICATE OF COMPLIANCE Pursuant to the terms of the Sale and Servicing Agreement dated as of December 1, 1999 among First Alliance Mortgage Company, as Seller and Servicer, and the Chase Manhattan Bank, as Oversight Agent and Trustee, I have reviewed the activities of the Servicer during the year ended December 31, 1999. I have also reviewed its performance under the Sale and Servicing Agreement and to the best of my knowledge, based on such review, the Servicer has fulfilled all its obligations under the Agreement throughout such period. By: /S/ Anne Lane ------------------------------ Name: Anne Lane Title: Vice President and Director of Loan Administration EX-99.2 3 ANNUAL REPORT OF INDEPENDENT ACCOUNTANTS Exhibit 99.2 Deloitte & Touche LLP Suite 1200 Telephone: (714) 436-7100 695 Town Center Drive Facsimile: (714) 436-7200 Costa Mesa, California 92626-1924 INDEPENDENT AUDITORS' REPORT We have examined management's assertion about First Alliance Mortgage Company's compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) as of and for the year ended December 31, 1999, included in the accompanying management assertion. Management is responsible for First Alliance Mortgage Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the entity's compliance based on our examination. Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about First Alliance Mortgage Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on First Alliance Mortgage Company's compliance with the minimum servicing standards. In our opinion, management's assertion that First Alliance Mortgage Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 1999 is fairly stated, in all respects. /S/ Deloitte & Touche LLP Costa Mesa, CA March 30, 2000 EX-99.3 4 ANNUAL COMPILATION OF MONTHLY TRUSTEE'S Exhibit 99.3 First Alliance Mortgage Loan Trust Mortgage Loan Asset Backed Notes Series 1999-4 1999 - Annual Statement DISTRIBUTION DOLLARS ENDING PERIOD CLASS INTEREST PRINCIPAL BALANCE ------ -------- --------------- --------------- --------------- 199912 A-1 N/A N/A $28,000,000.00 ENDING PERIOD CLASS INTEREST PRINCIPAL BALANCE ------ -------- --------------- --------------- --------------- 199912 A-2 N/A N/A $75,075,000.00 Total Class R Certificates: $0.00 Factor Information Per $1,000 PRINCIPAL INTEREST ENDING NOTE INIT NOTE CURR NOTE CLASS DISTRIBUTION DISTRIBUTION BALANCE RATE RATE - -------- ------------ ------------ ------------ ------------ ------------ A-1 N/A N/A N/A N/A N/A A-2 N/A N/A N/A N/A N/A Per $1,000 NOTE DISTRIBUTION: $0.00 0.00 SCHEDULED PRINCIPAL: $0.00 PREPAYMENTS & PREFUNDING ACT. REMAINDER: $0.00 SUBORDINATION INCREASE: $0.00 ------------------- TOTAL PRINCIPAL DISTRIBUTION: $0.00 0.00 TOTAL INTEREST DISTRIBUTION: $0.00 LOAN PURCHASE PRICES A-1 RATE NOTE: $0.00 A-2 RATE NOTE: $0.00 SUBORDINATION REDUCTION AMOUNT A-1 RATE NOTE: $0.00 A-2 RATE NOTE: $0.00 CURRENT REALIZED LOSSES A-1 RATE NOTE: $0.00 A-2 RATE NOTE: $0.00 CUMULATIVE REALIZED LOSSES A-1 RATE NOTE: $0.00 A-2 RATE NOTE: $0.00 DELINQUENT MORTGAGE LOANS(includes loans in foreclosure and bankruptcy): A-1 RATE NOTE ------------- AGGREGATE CATEGORY NUMBER LOAN BALANCE PERCENTAGE 30-59 DAYS 0 $0.00 0.00% 60-89 DAYS 0 $0.00 0.00% 90+ DAYS 0 $0.00 0.00% A-2 RATE NOTE ------------- AGGREGATE CATEGORY NUMBER LOAN BALANCE PERCENTAGE 30-59 DAYS 0 $0.00 0.00% 60-89 DAYS 0 $0.00 0.00% 90+ DAYS 0 $0.00 0.00% LOANS IN FORECLOSURE(included in delinquencies above): A-1 RATE NOTE ------------- AGGREGATE NUMBER LOAN BALANCE PERCENTAGE 0 $0.00 0.00% A-2 RATE NOTE ------------- AGGREGATE NUMBER LOAN BALANCE PERCENTAGE 0 $0.00 0.00% LOANS IN BANKRUPTCY(included in delinquencies above): A-1 RATE NOTE ------------- AGGREGATE NUMBER LOAN BALANCE PERCENTAGE 0 $0.00 0.00% A-2 RATE NOTE ------------- AGGREGATE NUMBER LOAN BALANCE PERCENTAGE 0 $0.00 0.00% REO PROPERTIES(included in delinquencies above): A-1 RATE NOTE ------------- AGGREGATE NUMBER LOAN BALANCE PERCENTAGE 0 $0.00 0.00% A-2 RATE NOTE ------------- AGGREGATE NUMBER LOAN BALANCE PERCENTAGE 0 $0.00 0.00% ENDING AGGREGATE LOAN BALANCE A-1 RATE NOTE: $0.00 A-2 RATE NOTE: $0.00 BOOK VALUE OF REO PROPERTY: A-1 RATE NOTE: $0.00 A-2 RATE NOTE: $0.00 -----END PRIVACY-ENHANCED MESSAGE-----