Group I Group II Total ------- -------- ----- SEC. 7.09 (a) (ii) Scheduled Principal Received 388,182.08 71,782.45 459,964.53 Prepayments (incl. Curtailments) 3,667,924.58 2,648,363.98 6,316,288.56 Purchased Principal 0.00 51,876.89 51,876.89...
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CONTIMORTGAGE CORPORATION
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1999-1
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DISTRIBUTION PERIOD: 25-May-99
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Original Beginning Ending
Certificate Certificate Principal Interest Total Certificate
Cusip Class Face Value Balance Distribution Distribution Distribution Balance
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00000XXX0 A-1 164,250,000.00 159,939,675.54 4,237,105.35 801,031.21 5,038,136.56 155,702,570.19
00000XXX0 A-2 96,940,000.00 96,940,000.00 0.00 484,700.00 484,700.00 96,940,000.00
00000XXX0 A-3 53,259,000.00 53,259,000.00 0.00 273,840.03 273,840.03 53,259,000.00
00000XXX0 A-4 29,905,000.00 29,905,000.00 0.00 157,001.25 157,001.25 29,905,000.00
00000XXX0 A-5 31,401,000.00 31,401,000.00 0.00 166,686.98 166,686.98 31,401,000.00
00000XXX0 A-6 53,245,000.00 53,245,000.00 0.00 303,940.21 303,940.21 53,245,000.00
00000XXX0 A-7 34,125,000.00 34,125,000.00 0.00 183,990.63 183,990.63 34,125,000.00
00000XXX0 A-8 154,375,000.00 151,374,025.25 2,718,524.63 633,174.42 3,351,699.05 148,655,500.62
00000XXX0 B 32,500,000.00 32,500,000.00 0.00 230,208.33 230,208.33 32,500,000.00
00000X0X0 C 0.00 0.00 0.00 1,691,730.37 1,691,730.37 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
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Total 650,000,000.00 642,688,700.79 6,955,629.98 4,926,303.43 11,881,933.41 635,733,070.81
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Notional Notional Principal Interest Total Notional
Class Amount Amount Distribution Distribution Distribution Amount
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00000XXX0 A-9IO 34,125,000.00 34,125,000.00 0.00 199,062.50 199,062.50 34,125,000.00
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AMOUNTS PER $1,000 UNIT PASS THROUGH RATES
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Ending
Principal Interest Total Certificate Current Pass
Class Distribution Distribution Distribution Balance Class Thru Rate
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00000XXX0 A-1 25.79668402 4.87690234 30.67358636 947.96085352 A-1 6.01000%
00000XXX0 A-2 0.00000000 5.00000000 5.00000000 1,000.00000000 A-2 6.00000%
00000XXX0 A-3 0.00000000 5.14166676 5.14166676 1,000.00000000 A-3 6.17000%
00000XXX0 A-4 0.00000000 5.25000000 5.25000000 1,000.00000000 A-4 6.30000%
00000XXX0 A-5 0.00000000 5.30833349 5.30833349 1,000.00000000 A-5 6.37000%
00000XXX0 A-6 0.00000000 5.70833336 5.70833336 1,000.00000000 A-6 6.85000%
00000XXX0 A-7 0.00000000 5.39166681 5.39166681 1,000.00000000 A-7 6.47000%
00000XXX0 A-8 17.60987615 4.10153470 21.71141085 962.95061130 A-8 5.19250%
00000XXX0 B 0.00000000 7.08333323 7.08333323 1,000.00000000 A-9IO 7.00000%
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Total 10.70096920 4.97626625 15.67723545 978.05087817 B 8.50000%
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LIBOR: 4.91250%
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Uncapped A-8 Rate: 5.19250%
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ENDING
PRINCIPAL INTEREST TOTAL NOTIONAL
CLASS DISTRIBUTION DISTRIBUTION DISTRIBUTION AMOUNT
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00000XXX0 A-9IO 0.00000000 5.83333333 5.83333333 1,000.00000000
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PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
XXXX XXXXXX
M & T CORPORATE TRUST DEPARTMENT
ONE M & T PLAZA-7TH FLOOR
BUFFALO, NY 14240
Page 1
DISTRIBUTION PERIOD: 25-May-99
Group I Group II Total
------- -------- -----
SEC. 7.09 (a) (ii) Scheduled Principal Received 388,182.08 71,782.45 459,964.53
Prepayments (incl. Curtailments) 3,667,924.58 2,648,363.98 6,316,288.56
Purchased Principal 0.00 51,876.89 51,876.89
Liquidation Proceeds applied to principal 127,500.00 0.00 127,500.00
Realized Loss of Principal 0.00 0.00 0.00
Realized Loss of Interest 3,771.25 0.00 3,771.25
Extra Principal Distribution 53,498.69 (53,498.69) (0.00)
SEC. 7.09 (a) (iv) Total Certificate Interest Carry-Forward Amount 0.00
Class A-1 Interest Carry-Forward Amount 0.00
Class A-2 Interest Carry-Forward Amount 0.00
Class A-3 Interest Carry-Forward Amount 0.00
Class A-4 Interest Carry-Forward Amount 0.00
Class A-5 Interest Carry-Forward Amount 0.00
Class A-6 Interest Carry-Forward Amount 0.00
Class A-7 Interest Carry-Forward Amount 0.00
Class A-8 Interest Carry-Forward Amount 0.00
Class A-9IO Interest Carry-Forward Amount 0.00
Class B Interest Carry-Forward Amount 0.00
Group I Group II Total
------- -------- -----
SEC. 7.09 (a) (vi) Outstanding Loan Balance: 479,068,553.44 156,664,517.37 635,733,070.81
SEC. 7.09 (a) (vii) Code Section 6049(d)(7)(C) Information-Required Market Discount Information
Provided at Calendar Year End.
Group I Group II Total
------- -------- -----
SEC. 7.09 (a) (viii) Loan Purchase Prices 0.00 52,138.44 52,138.44
Substitution Amounts 0.00 0.00 0.00
SEC. 7.09 (a) (ix) & (x) Weighted Average Coupon 10.3052% 10.0944% 10.2529%
SEC. 7.09 (a) (xi) Weighted Average Remaining Term to Maturity 269 354 290
SEC. 7.09 (a) (xii) Cumulative Realized Loss Trigger Event Occurrence NO
Cumulative Realized Loss Termination Trigger Occurrence NO
SEC. 7.09 (a) (xiii) Overcollateralization Amount 0.00
Targeted Overcollateralization Amount 0.00
Class A Optimal Balance 603,233,070.81
Class B Optimal Balance 32,500,000.00
SEC. 7.09 (a) (xiv) Applied Realized Realized Loss Unpaid Realized
Loss Amount Amortization Amount Loss Amount
----------- ------------------- -----------
Class B 0.00 0.00 0.00
SEC. 7.09 (a) (xvi) Group I Group II
------- --------
Available Funds Cap 9.11880% 9.40400%
SEC. 7.09 (a) (xvii) Insured Payment 0.00
SEC. 7.09 (a) (xviii) Reimbursement Amount Paid 0.00
Remaining Reimbursement Amount Unpaid 0.00
SEC. 7.09 (a) (xx) Largest Home Equity Loan Balance Outstanding 411,283.68
2nd Largest Home Equity Loan Balance Outstanding 402,617.59
3rd Largest Home Equity Loan Balance Outstanding 394,304.73
SEC. 7.09 (a) (xxi) Class B Available Funds Cap Carry-Forward Amount 0.00
Page 2
DISTRIBUTION PERIOD: 25-May-99
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SEC. 7.09 (b) (i) Delinquencies(1) Period Number Percentage Prin. Balance Percentage
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30-59 Days 65 0.96254% 3,718,513.17 0.77620%
Group I 60-89 Days 20 0.29616% 1,419,300.59 0.29626%
90+ Days 14 0.20732% 1,319,071.46 0.27534%
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30-59 Days 25 1.44760% 1,897,930.42 1.21146%
Group II 60-89 Days 11 0.63694% 837,724.63 0.53473%
90+ Days 5 0.28952% 372,902.11 0.23803%
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30-59 Days 90 1.06132% 5,616,443.59 0.88346%
TOTAL 60-89 Days 31 0.36557% 2,257,025.22 0.35503%
90+ Days 19 0.22406% 1,691,973.57 0.26615%
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Total Group I 6,753 100.00000% 479,068,553.44 100.00000%
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Total Group II 1,727 100.00000% 156,664,517.37 100.00000%
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Total 8,480 100.00000% 635,733,070.81 100.00000%
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(1) Includes Bankruptcies, Foreclosures and REOs ; Based on each respective Group's loan count and balance.
Group I Group II Total
------- -------- -----
SEC. 7.09 (b) (ii) Loans in Foreclosure (LIF): Count 8 2 10
Loans in Foreclosure (LIF): Balance 460,713.22 128,750.00 589,463.22
SEC. 7.09(b)(iii) Loans in Bankruptcy: Count 11 2 13
Loans in Bankruptcy: Balance 658,760.11 219,725.00 878,485.11
SEC. 7.09 (b)(iv) & (v) REO Properties: Count 1 0 1
REO Properties: Balance 267,602.21 0.00 267,602.21
SEC. 7.09 (b) (vi) Cumulative Realized Losses 3,771.25 0.00 3,771.25
SEC. 7.09 (b) (vii) Loan Balance of 90+ Day Delinquent Loans 1,319,071.46 372,902.11 1,691,973.57
SEC. 7.09 (b) (viii) Six Month Rolling Average 90+ Day Delinquency Rate 0.15532%
Six-Month Rolling Average Excess Spread 0.22053%
Cumulative Realized Loss Trigger Event Occurrence NO
SEC. 7.09 (b) (ix) Optional Buyout Loans 0.00
Page 3
DISTRIBUTION PERIOD: 25-May-99
SEC. 7.08(b)(i) Amount on Deposit in the Certificate Account 12,183,644.43
SEC. 7.08(b)(ii) & (iv) Amount Due Amount Paid
---------- -----------
Class A-1 Allocation 5,038,136.56 5,038,136.56
Class A-2 Allocation 484,700.00 484,700.00
Class A-3 Allocation 273,840.03 273,840.03
Class A-4 Allocation 157,001.25 157,001.25
Class A-5 Allocation 166,686.98 166,686.98
Class A-6 Allocation 303,940.21 303,940.21
Class A-7 Allocation 183,990.63 183,990.63
Class A-8 Allocation 3,351,699.05 3,351,699.05
Class A-9IO Allocation 199,062.50 199,062.50
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Class A Distribution Amount 10,159,057.21 10,159,057.21
=================================
Class B Allocation 230,208.33 230,208.33
SEC. 7.08(b)(iii) Insured Payment made by the Certificate Insurer 0.00
SEC. 7.08(b)(v) Beginning Principal Ending
Class Balance * Distribution Balance *
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A-1 159,939,675.54 4,237,105.35 155,702,570.19
A-2 96,940,000.00 0.00 96,940,000.00
A-3 53,259,000.00 0.00 53,259,000.00
A-4 29,905,000.00 0.00 29,905,000.00
A-5 31,401,000.00 0.00 31,401,000.00
A-6 53,245,000.00 0.00 53,245,000.00
A-7 34,125,000.00 0.00 34,125,000.00
A-8 151,374,025.25 2,718,524.63 148,655,500.62
A-9IO 34,125,000.00 NA 34,125,000.00
B 32,500,000.00 0.00 32,500,000.00
* Denotes Notional Amounts for Class A-9IO.
Group I Group II Total
SEC. 7.08(b)(vi) Current Period Realized Losses (Recoveries) 3,771.25 0.00 3,771.25
Cumulative Realized Losses 3,771.25 0.00 3,771.25
SEC. 7.08(b)(vii) Six-Month Rolling Average Excess Spread 0.22053%
Six-Month Rolling Average 90+ Day Delinquency Rate 0.15532%
DISTRIBUTION PERIOD: 25-May-99
REO STATUS
SEC. 7.09 (b) (v&vi) LOAN NUMBER BOOK VALUE STATUS
----------- ---------- ------
7564503 267602.21 List Pending
Page 4
INSURER'S REPORT
DISTRIBUTION PERIOD: 25-May-99
Group I Group II Total
* Monthly Excess Cashflow Amount 1,124,173.20 559,167.77 1,683,340.97
* Premium paid from cash flow (1) 75,762.93 24,775.92 100,538.85
* Trustee Fee paid from cash flow (1) 1,586.31 523.36 2,109.67
* Interest Collected on Mortgage
Loans (net of Service Fee) 3,944,874.10 1,274,750.95 5,219,625.05
* Current Period Realized Losses:
Principal 0.00 0.00 0.00
Interest 3,771.25 0.00 3,771.25
(1) Allocated based upon the related Certificate Balances.
