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Amresco Residential Securities Corp Mortgage Loan Tr 1997-2 – ‘8-K’ for 1/26/98 – EX-99

As of:  Thursday, 2/5/98   ·   For:  1/26/98   ·   Accession #:  1036082-98-8   ·   File #:  333-08687-03

Previous ‘8-K’:  ‘8-K’ on 1/6/98 for 12/26/97   ·   Latest ‘8-K’:  This Filing

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 2/05/98  Amresco Residential Secs … 1997-2 8-K:5,7     1/26/98    2:12K                                    Amresco Resident… 1997-1

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         2±     9K 
 2: EX-99       Miscellaneous Exhibit                                  4±    20K

EX-99   —   Miscellaneous Exhibit


AMRESCO Residential Securities Corporation                                      
MORTGAGE LOAN PASS-THROUGH CERTIFICATES, SERIES 1997-2                          
101 Barclay Street, 12E                                                         
New York, NY 10286                                                              
Attn: Franklin Austin, MBS Unit                                                 
(212) 815-2297                                                                  
Payment Date: 01/26/98                                                          

                                                        [Enlarge/Download Table]

                                                 Current Payment Information                                        
     Group I Certificates                                                                                           
               Beginning    Pass Thru  Principal      Interest       Unpaid   Principal     Total        Ending     
                                                                    Interest                                        
      Class     Balance       Rate    Distribution  Distribution  Carryforward  Losses     Payment       Balance    
                                                                                                                    
       A-1    23,771,134.30 6.800000% 5,346,780.41     134,703.09        0.00      0.00 5,481,483.51  18,424,353.89 
       A-2    44,500,000.00 6.700000%         0.00     248,458.33        0.00      0.00   248,458.33  44,500,000.00 
       A-3    68,100,000.00 6.795000%         0.00     385,616.25        0.00      0.00   385,616.25  68,100,000.00 
       A-4    27,900,000.00 6.930000%         0.00     161,122.50        0.00      0.00   161,122.50  27,900,000.00 
       A-5    21,300,000.00 7.100000%         0.00     126,025.00        0.00      0.00   126,025.00  21,300,000.00 
       A-6    14,900,000.00 7.210000%         0.00      89,524.17        0.00      0.00    89,524.17  14,900,000.00 
       A-7    36,975,000.00 7.570000%         0.00     233,250.63        0.00      0.00   233,250.63  36,975,000.00 
       A-8    28,900,000.00 7.175000%         0.00     172,797.92        0.00      0.00   172,797.92  28,900,000.00 
      M-1F    12,487,000.00 7.430000%         0.00      77,315.34        0.00      0.00    77,315.34  12,487,000.00 
      M-2F    18,315,000.00 7.665000%         0.00     116,987.06        0.00      0.00   116,987.06  18,315,000.00 
      B-1F    10,823,000.00 7.975000%         0.00      71,927.85        0.00      0.00    71,927.85  10,823,000.00 

    Totals   307,971,134.30           5,346,780.41   1,817,728.14        0.00      0.00 7,164,508.56 302,624,353.89 

    Group II Certificates                                                                                           
               Beginning    Pass Thru  Principal      Interest       Unpaid   Principal     Total         Ending    
                                                                    Interest                                        
      Class     Balance       Rate    Distribution  Distribution  Carryforward  Losses     Payment        Balance   
       A-9   291,159,683.30 6.178750% 9,561,125.59   1,549,141.38        0.00      0.00 11,110,266.97 281,598,557.71
      M-1A    25,438,000.00 6.338750%         0.00     138,849.97        0.00      0.00    138,849.97  25,438,000.00
      M-2A    24,420,000.00 6.548750%         0.00     137,709.30        0.00      0.00    137,709.30  24,420,000.00
      B-1A    22,385,000.00 6.938750%         0.00     133,751.15        0.00      0.00    133,751.15  22,385,000.00

    Totals   363,402,683.30         - 9,561,125.59   1,959,451.80        0.00      0.00 11,520,577.39 353,841,557.71

       Other Certificates                                                                                           
               Beginning    Pass Thru   Principal     Interest       Unpaid   Principal     Total        Ending     
                                                                    Interest                                        
      Class     Balance       Rate    Distribution  Distribution  Carryforward  Losses     Payment       Balance    
        S              0.00 0.000000%          0.00     34,052.52        0.00      0.00     34,052.52           0.00
        C              0.00 0.000000%          0.00          0.00        0.00      0.00          0.00           0.00
        R              0.00 0.000000%          0.00          0.00        0.00      0.00          0.00           0.00

    Totals             0.00        -           0.00     34,052.52        0.00      0.00     34,052.52           0.00

Grand Total  671,373,817.60           14,907,906.00  3,811,232.46                       18,719,138.46 656,465,911.60
                                                        [Enlarge/Download Table]

  Original Certificate Information                          Factors per $1,000                    
      Class                                                                                       
Information                                                                                       
                      Original    Pass Thru   Cusip      Principal      Interest      Ending      
   Type      Name    Cert. Bal.     Rate     Numbers       Dist.          Dist.      Cert. Bal    
                                                                                                  
Senior       A-1    48,800,000.00 6.800000% 03215P-BX6  109.56517240     2.76030931   377.54823544
             A-2    44,500,000.00 6.700000% 03215P-BY4    0.00000000     5.58333333  1000.00000000
             A-3    68,100,000.00 6.795000% 03215P-BZ1    0.00000000     5.66250000  1000.00000000
             A-4    27,900,000.00 6.930000% 03215P-CA5    0.00000000     5.77500000  1000.00000000
             A-5    21,300,000.00 7.100000% 03215P-CB3    0.00000000     5.91666667  1000.00000000
             A-6    14,900,000.00 7.210000% 03215P-CC1    0.00000000     6.00833333  1000.00000000
             A-7    36,975,000.00 7.570000% 03215P-CD9    0.00000000     6.30833333  1000.00000000
             A-8    28,900,000.00 7.175000% 03215P-CE7    0.00000000     5.97916667  1000.00000000
             A-9   334,757,000.00 Variable  03215P-CF4   28.56139107     4.62765941   841.20289556
Subordinate  M-1F   12,487,000.00 7.430000% 03215P-CG2    0.00000000     6.19166667  1000.00000000
             M-1A   25,438,000.00 Variable  03215P-CH0    0.00000000     5.45836806  1000.00000000
             M-2F   18,315,000.00 7.665000% 03215P-CJ6    0.00000000     6.38750000  1000.00000000
             M-2A   24,420,000.00 Variable  03215P-CK3    0.00000000     5.63920139  1000.00000000
             B-1F   10,823,000.00 7.975000% 03215P-CL1    0.00000000     6.64583333  1000.00000000
             B-1A   22,385,000.00 Variable  03215P-CM9    0.00000000     5.97503472  1000.00000000
Totals             740,000,000.00                        12.92043999     2.64790783  887.116096754
                                                        [Enlarge/Download Table]


           COLLATERAL INFORMATION                                                                
                                                 Group 1        Group 2          Aggregate       
                                                                                                 
Number of Loans                                       3,920          3,610                7,530  
Beginning Mortgage Loan Balance              312,306,630.52 369,330,005.48       681,636,636.00  
     Scheduled Principal                         233,987.59     175,077.12           409,064.71  
     Curtailments                                 24,089.03      45,877.85            69,966.88  
     Pre-Funded Amounts                                0.00           0.00                 0.00  
     Prepayments in Full                       4,361,731.13   8,104,961.51        12,466,692.64  
     Repurchases                                       0.00     164,147.59           164,147.59  
     Realized Losses                                   0.00      23,130.24            23,130.24  
Ending Loan Balance                          307,686,822.77 360,816,811.17       668,503,633.94  

Plus Amount Pre-Funded this period                     0.00           0.00                 0.00  
Current Loan Balance                         307,686,822.77 360,816,811.17       668,503,633.94  

Gross Interest on Mortgage Loans               2,674,828.57   3,184,400.82         5,859,229.39  
Weighted Average Coupon Rate                     10.277701%     10.346522%           10.314990%  
Servicing Fees Paid                              114,251.24     135,711.51           249,962.75  
Net Interest Remitted                          2,560,577.33   3,048,689.31         5,609,266.64  
Aggregate Interest Paid to Certificates        1,833,604.66   1,977,627.79         3,811,232.46  
Excess Interest                                  726,972.66   1,071,061.52         1,798,034.18  
Transfer from Capitalized Interest Accoun              0.00           0.00                 0.00  
Extra Principal Distribution Amount              726,972.66   1,071,061.52         1,798,034.18  
Senior Enhancement Percentage                    15.173698%     21.955256%                       

                                             PRE-FUNDED ACCOUNT                                  

Initial Balance of Account                             0.00           0.00                 0.00  
Subsequent Purchases this Period                       0.00           0.00                 0.00  
Current Balance in Account                             0.00           0.00                 0.00  

          OVERCOLLATERALIZATION CALCULATIONS                                                     

Targeted Overcollateralization Amount          9,157,500.00  15,262,500.00        24,420,000.00  
Actual Overcollateralization Amount            5,062,468.88   6,975,253.46        12,037,722.34  

    DELINQUENCY INFORMATION                                                                      
                                                                   Group 1                       
                   Period                    Loan Count     Percentage  Loan Balance   Percentage
            30-59 Days Delinquent                   99       2.525510%  6,271,275.25    2.038201%
            60-89 Days Delinquent                   43       1.096939%  3,150,446.59    1.023913%
         90 or more Days Delinquent                150       3.826531% 11,303,431.55    3.673681%
                   Totals                          292       7.448980% 20,725,153.39    6.735795%
         Total Loans In Foreclosure                133       3.392857%  9,960,648.06    3.237268%
                 Bankruptcy                         38       0.969388%  2,859,450.48    0.929338%
               REO Properties                        6       0.153061%    404,418.34    0.131438%
 Foreclosures, Bankruptcies and REO's are included in Period counts above                        

                                                                   Group 2                       
                   Period                    Loan Count     Percentage  Loan Balance   Percentage
            30-59 Days Delinquent                  100       2.770083%  8,738,825.25    2.421956%
            60-89 Days Delinquent                   45       1.246537%  4,393,284.81    1.217594%
         90 or more Days Delinquent                204       5.650970% 19,151,550.18    5.307832%
                   Totals                          349       9.667590% 32,283,660.24    8.947383%
                In Foreclosure                     185       5.124654% 17,800,102.50    4.933280%
                In Bankruptcy                       38       1.052632%  3,600,380.13    0.997842%
               REO Properties                        9       0.249307%    994,183.71    0.275537%
 Foreclosures, Bankruptcies, and REO's are included in Period counts above                       

                                           Aggregate Pool                                        
                   Period                    Loan Count     Percentage  Loan Balance   Percentage
            30-59 Days Delinquent                  199       2.642762% 15,010,100.50    2.245328%
            60-89 Days Delinquent                   88       1.168659%  7,543,731.40    1.128450%
         90 or more Days Delinquent                354       4.701195% 30,454,981.73    4.555694%
                   Totals                          641       8.512616% 53,008,813.63    7.929473%
               In Foreclosure                      318       4.223108% 27,760,750.56    4.152670%
                In Bankruptcy                       76       1.009296%  6,459,830.61    0.966312%
               REO Properties                       15       0.199203%  1,398,602.05    0.209214%
 Foreclosures, Bankruptcies, and REO's are included in Period counts above                       
                                                                   Group 1        Group 2        
 Aggregate Loan Balance of 60+ Day Delinquent Loans           14,453,878.14    23,544,834.99     
 Aggregate Loan Balance of 90+ Day Delinquent Loans           11,303,431.55    19,151,550.18     
 90+ Day Delinquency Percentage (Rolling Three Month              3.168093%        4.469767%     

             MORTGAGE LOAN SERVICING GROUP SUMMARY                                               

                   Advanta                  Group 1           Group 2         Total              
        Beginning Loan Count                         2,501          2,165           4,666        
        Beginning Balance of Loans          190,518,233.94 218,111,950.21  408,630,184.15        
        Current Realized Losses                       0.00           0.00            0.00        
        Cumulative Realized Losses                    0.00           0.00            0.00        
        Annual Loss Percentage                   0.000000%      0.000000%       0.000000%        
        Ending Balance of Loans             188,020,615.59 212,953,712.61  400,974,328.20        
        Ending Loan Count                            2,464          2,111           4,575        

                 Option One                 Group 1           Group 2         Total              
        Beginning Loan Count                           323          1,459           1,782        
        Beginning Balance of Loans           24,014,502.74 139,907,242.10  163,921,744.84        
        Current Realized Losses                       0.00      23,130.24       23,130.24        
        Cumulative Realized Losses                    0.00      43,532.65       43,532.65        
        Annual Loss Percentage                   0.000000%      0.005661%       0.005661%        
        Ending Balance of Loans              23,852,346.83 136,806,182.70  160,658,529.53        
        Ending Loan Count                              320          1,422           1,742        

             Long Beach Mortgage            Group 1           Group 2         Total              
        Beginning Loan Count                         1,156             79           1,235        
        Beginning Balance of Loans           97,773,893.84  11,310,813.17  109,084,707.01        
        Current Realized Losses                       0.00           0.00            0.00        
        Cumulative Realized Losses                    0.00           0.00            0.00        
        Annual Loss Percentage                   0.000000%      0.000000%       0.000000%        
        Ending Balance of Loans              95,813,860.35  11,056,915.86  106,870,776.21        
        Ending Loan Count                            1,136             77           1,213
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