American Residential Eagle Certificate Trust Series 1999-2 Certificateholder Distribution Statement (Wells Fargo Bank Minnesota, N.A.)

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Summary

This document is a distribution statement for the American Residential Eagle Certificate Trust, Series 1999-2, administered by Wells Fargo Bank Minnesota, N.A. It details the principal and interest distributions made to holders of mortgage pass-through certificates as of August 31, 2000, with distributions occurring on September 25, 2000. The statement outlines the amounts distributed, remaining balances, and interest rates for each certificate class, as well as any realized losses. All calculations are made in accordance with the Pooling and Servicing Agreement governing the trust.

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EX-10.1 2 f66092ex10-1.txt EXHIBIT 10.1 1 EXHIBIT 10.1 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2 Certificateholder Distribution Summary
Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution ----- ----- ----------- ---- ------- ------------ A-1 02926NAB2 SEQ 6.96000% 276,794,576.13 1,658,922.16 A-2 02926NAC0 SEQ 7.09000% 53,444,204.91 315,766.18 INV_CERT AMINV1992 SEQ 0.00000% 10,844,795.18 2,224,090.74 -------------- ------------ Totals 341,083,576.22 4,198,779.08 -------------- ------------
Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses ----- ------------ ---- ------- ------------ ------ A-1 3,268,367.41 0.00 273,526,208.72 4,927,289.57 0.00 A-2 1,076,562.15 0.00 52,367,642.76 1,392,328.33 0.00 INV_CERT 0.00 0.00 8,939,695.46 2,224,090.74 0.00 ------------ ---- -------------- ------------ ---- Totals 4,344,929.56 0.00 334,833,546.94 8,543,708.64 0.00 ------------ ---- -------------- ------------ ----
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. Page 1 2 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2 Principal Distribution Statement
Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class Amount Balance Distribution Distribution Accretion ----- ------ ------- ------------ ------------ --------- A-1 332,350,000.00 276,794,576.13 170,713.37 3,097,654.04 0.00 A-2 61,750,000.00 53,444,204.91 54,596.99 1,021,965.16 0.00 INV_CERT 10,223,416.68 10,844,795.18 0.00 0.00 0.00 -------------- -------------- ---------- ------------ ---- Totals 404,323,416.68 341,083,576.22 225,310.36 4,119,619.20 0.00 -------------- -------------- ---------- ------------ ----
Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (1) Reduction Balance Percentage Distribution ----- -------- --------- ------- ---------- ------------ A-1 0.00 3,268,367.41 273,526,208.72 0.82300650 3,268,367.41 A-2 0.00 1,076,562.15 52,367,642.76 0.84805899 1,076,562.15 INV_CERT 0.00 0.00 8,939,695.46 0.87443325 0.00 ---- ------------ -------------- ---------- ------------ Totals 0.00 4,344,929.56 334,833,546.94 0.82813296 4,344,929.56 ---- ------------ -------------- ---------- ------------
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. Page 2 3 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2 Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class (2) Amount Balance Distribution Distribution Accretion Loss (3) --------- ------ ------- ------------ ------------ --------- -------- A-1 332,350,000.00 832.84060818 0.51365539 9.32045747 0.00000000 0.00000000 A-2 61,750,000.00 865.49319692 0.88416178 16.55004308 0.00000000 0.00000000 INV_CERT 10,223,416.68 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Total Ending Ending Total Principal Certificate Certificate Principal Class (2) Reduction Balance Percentage Distribution --------- --------- ------- ---------- ------------ A-1 9.83411286 823.00649532 0.82300650 9.83411286 A-2 17.43420486 848.05899206 0.84805899 17.43420486 INV_CERT 0.00000000 0.00000000 0.87443325 0.00000000
All Denominations are Per 1000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. Page 3 4 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2 Interest Distribution Statement
Beginning Original Current Certificate/ Current Payment of Face Certificate Notional Accrued Unpaid Class Amount Rate Balance Interest Interest - ----- ------ ---- ------- -------- -------- A-1 332,350,000.00 6.96000% 276,794,576.13 1,658,922.16 0.00 A-2 61,750,000.00 7.09000% 53,444,204.91 315,766.18 0.00 INV_CERT 10,223,416.68 0.00000% 10,844,795.18 0.00 0.00 -------------- ------------ ---- Totals 404,323,416.68 1,974,688.34 0.00 -------------- ------------ ----
Remaining Ending Current Non-Supported Total Unpaid Certificate/ Interest Interest Realized Interest Interest Notional Class Shortfall Shortfall Loss (4) Distribution Shortfall Balance - ----- --------- --------- -------- ------------ --------- ------- A-1 0.00 0.00 0.00 1,658,922.16 0.00 273,526,208.72 A-2 0.00 0.00 0.00 315,766.18 0.00 52,367,642.76 INV_CERT 0.00 0.00 0.00 2,224,090.74 0.00 8,939,695.46 ---- ---- ---- ------------ ---- Totals 0.00 0.00 0.00 4,198,779.08 0.00 ---- ---- ---- ------------ ----
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. Page 4 5 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2 Interest Distribution Factors Statement
Beginning Payment of Original Current Certificate/ Current Unpaid Face Certificate Notional Accrued Interest Class (5) Amount Rate Balance Interest Shortfall - --------- ------ ---- ------- -------- --------- A-1 332,350,000.00 6.96000% 832.84060818 4.99149138 0.00000000 A-2 61,750,000.00 7.09000% 865.49319692 5.11362235 0.00000000 INV_CERT 10,223,416.68 0.00000% 0.00000000 0.00000000 0.00000000
Remaining Ending Current Non-Supported Total Unpaid Certificate/ Interest Interest Realized Interest Interest Notional Class (5) Shortfall Shortfall Loss (6) Distribution Shortfall Balance - --------- --------- --------- -------- ------------ --------- ------- A-1 0.00000000 0.00000000 0.00000000 4.99149138 0.00000000 823.00649532 A-2 0.00000000 0.00000000 0.00000000 5.11362235 0.00000000 848.05899206 INV_CERT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
All Denominations are Per 1000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. Page 5 6 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2 Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage - ----- ---- ------- ------- ------- ------- ---------- FEE 1,200.00000% 56,455.68 55,333.02 0.00 0.00 82.06755038%
Page 6 7 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2 Certificateholder Account Statement CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 8,943,019.13 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (104,737.74) ------------ Total Deposits 8,838,281.39 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 294,572.75 Payment of Interest and Principal 8,543,708.64 ------------ Total Withdrawals (Pool Distribution Amount) 8,838,281.39 Ending Balance 0.00 ============
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 ---- Non-Supported Prepayment/Curtailment Interest Shortfall 0.00 ====
SERVICING FEES Gross Servicing Fee 142,118.19 Management Fee 1,000.00 FSA Group 1 Premium 48,439.05 FSA Group 2 Premium 8,016.63 PMI Group 1 Fee 83,733.22 PMI Group 2 Fee 11,265.66 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 294,572.75 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ ------- ----------- -------- ------- Financial Guaranty 0.00 0.00 0.00 0.00 Financial Guaranty 0.00 0.00 0.00 0.00
Page 7 8 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2 Loan Status Stratification/Credit Enhancement Statement
DELINQUENT NO. OF PRINCIPAL LOANS BALANCE 30 Days 62 6,093,594.58 60 Days 10 1,198,807.18 90 Days 3 493,606.66 120 Days 1 85,486.64 150 Days 1 140,757.33 180+ Days 1 63,694.67 -- ------------ 78 8,075,947.06 -- ------------
NO. OF PRINCIPAL LOANS BALANCE 30 Days 1.922481% 1.818391% 60 Days 0.310078% 0.357736% 90 Days 0.093023% 0.147297% 120 Days 0.031008% 0.025510% 150 Days 0.031008% 0.042003% 180+ Days 0.031008% 0.019007% -------- -------- 2.418605% 2.409946% -------- --------
BANKRUPTCY NO. OF PRINCIPAL LOANS BALANCE 0-29 Days 18 1,970,383.79 30 Days 2 268,453.27 60 Days 3 210,502.87 90 Days 2 66,503.67 120 Days 2 105,665.79 150 Days 4 285,326.65 180+ Days 20 1,722,301.23 -- ------------ 51 4,629,137.27 -- ------------
NO. OF PRINCIPAL LOANS BALANCE 0-29 Days 0.558140% 0.587983% 30 Days 0.062016% 0.080109% 60 Days 0.093023% 0.062816% 90 Days 0.062016% 0.019845% 120 Days 0.062016% 0.031532% 150 Days 0.124031% 0.085144% 180+ Days 0.620155% 0.513952% -------- -------- 1.581395% 1.381382% -------- --------
FORECLOSURE NO. OF PRINCIPAL LOANS BALANCE 0-29 Days 4 257,584.86 30 Days 0 0.00 60 Days 26 2,303,213.63 90 Days 23 1,713,732.91 120 Days 10 813,424.97 150 Days 8 1,143,960.76 180+ Days 66 5,399,239.12 --- ------------- 137 11,631,156.25 --- -------------
NO. OF PRINCIPAL LOANS BALANCE 0-29 Days 0.124031% 0.076866% 30 Days 0.000000% 0.000000% 60 Days 0.806202% 0.687303% 90 Days 0.713178% 0.511395% 120 Days 0.310078% 0.242734% 150 Days 0.248062% 0.341370% 180+ Days 2.046512% 1.611188% -------- -------- 4.248062% 3.470856% -------- --------
REO NO. OF PRINCIPAL LOANS BALANCE 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 16 1,354,465.40 -- ------------ 16 1,354,465.40 -- ------------
NO. OF PRINCIPAL LOANS BALANCE 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.496124% 0.404186% -------- -------- 0.496124% 0.404186% -------- --------
TOTAL NO. OF PRINCIPAL LOANS BALANCE 0-29 Days 22 2,227,968.65 30 Days 64 6,362,047.85 60 Days 39 3,712,523.68 90 Days 28 2,273,843.24 120 Days 13 1,004,577.40 150 Days 13 1,570,044.74 180+ Days 103 8,539,700.42 --- ------------- 282 25,690,705.98 --- -------------
NO. OF PRINCIPAL LOANS BALANCE 0-29 Days 0.682171% 0.664849% 30 Days 1.984496% 1.898500% 60 Days 1.209302% 1.107855% 90 Days 0.868217% 0.678538% 120 Days 0.403101% 0.299776% 150 Days 0.403101% 0.468517% 180+ Days 3.193798% 2.548334% -------- -------- 8.744186% 7.666370% -------- --------
Current Period Realized Loss - Includes Interest Shortfall 0.00 Principal Balance of Contaminated Properties 0.00 Cumulative Realized Losses - Includes Interest Shortfall 230,413.47 Periodic Advance 0.00 Current Period Class A Insufficient Funds 0.00
Page 8 9 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2 Delinquency Status By Group
DELINQUENT GROUP NO OF PRINCIPAL 1 LOANS BALANCE 30 Days 42 4,122,539.79 60 Days 4 706,961.13 90 Days 3 493,606.66 120 Days 1 85,486.64 150 Days 1 140,757.33 180+ Days 1 63,694.67 -------- ------------ 52 5,613,046.22 30 Days 1.648999% 1.464947% 60 Days 0.157048% 0.251219% 90 Days 0.117786% 0.175403% 120 Days 0.039262% 0.030378% 150 Days 0.039262% 0.050018% 180+ Days 0.039262% 0.022634% -------- ------------ 2.041618% 1.994599% -------- ------------
BANKRUPTCY NO OF PRINCIPAL LOANS BALANCE 0-29 Days 16 1,862,953.07 30 Days 2 268,453.27 60 Days 2 169,483.50 90 Days 0 0.00 120 Days 1 40,310.06 150 Days 4 285,326.65 180+ Days 12 1,203,040.74 -------- ------------ 37 3,829,567.29 0-29 Days 0.628190% 0.662001% 30 Days 0.078524% 0.095395% 60 Days 0.078524% 0.060226% 90 Days 0.000000% 0.000000% 120 Days 0.039262% 0.014324% 150 Days 0.157048% 0.101391% 180+ Days 0.471143% 0.427501% -------- ------------ 1.452689% 1.360839% -------- ------------
FORECLOSURE NO OF PRINCIPAL LOANS BALANCE 0-29 Days 4 257,584.86 30 Days 0 0.00 60 Days 18 1,648,631.44 90 Days 17 1,317,783.53 120 Days 7 603,693.92 150 Days 7 647,088.20 180+ Days 51 4,567,442.39 -------- ------------ 104 9,042,224.34 0-29 Days 0.157048% 0.091533% 30 Days 0.000000% 0.000000% 60 Days 0.706714% 0.585842% 90 Days 0.667452% 0.468275% 120 Days 0.274833% 0.214523% 150 Days 0.274833% 0.229943% 180+ Days 2.002356% 1.623043% -------- ------------ 4.083235% 3.213159% -------- ------------
REO NO OF PRINCIPAL LOANS BALANCE 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 15 1,290,483.51 -------- ------------ 15 1,290,483.51 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.588928% 0.458574% -------- ------------ 0.588928% 0.458574% -------- ------------
TOTAL NO OF PRINCIPAL LOANS BALANCE 0-29 Days 20 2,120,537.93 30 Days 44 4,390,993.06 60 Days 24 2,525,076.07 90 Days 20 1,811,390.19 120 Days 9 729,490.62 150 Days 12 1,073,172.18 180+ Days 79 7,124,661.31 -------- ------------- 208 19,775,321.36 0-29 Days 0.785238% 0.753534% 30 Days 1.727523% 1.560342% 60 Days 0.942285% 0.897287% 90 Days 0.785238% 0.643678% 120 Days 0.353357% 0.259225% 150 Days 0.471143% 0.381352% 180+ Days 3.101688% 2.531752% -------- ------------- 8.166470% 7.027170% -------- ------------
DELINQUENT GROUP NO OF PRINCIPAL 2 LOANS BALANCE 30 Days 20 1,971,054.79 60 Days 6 491,846.05 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------ 26 2,462,900.84 30 Days 2.949853% 3.670711% 60 Days 0.884956% 0.915969% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------ 3.834808% 4.586680% -------- ------------
BANKRUPTCY NO OF PRINCIPAL LOANS BALANCE 0-29 Days 2 107,430.72 30 Days 0 0.00 60 Days 1 41,019.37 90 Days 2 66,503.67 120 Days 1 65,355.73 150 Days 0 0.00 180+ Days 8 519,260.49 -------- ---------- 14 799,569.98 0-29 Days 0.294985% 0.200069% 30 Days 0.000000% 0.000000% 60 Days 0.147493% 0.076391% 90 Days 0.294985% 0.123850% 120 Days 0.147493% 0.121713% 150 Days 0.000000% 0.000000% 180+ Days 1.179941% 0.967023% -------- ---------- 2.064897% 1.489046% -------- ----------
FORECLOSURE NO OF PRINCIPAL LOANS BALANCE 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 8 654,582.19 90 Days 6 395,949.38 120 Days 3 209,731.05 150 Days 1 496,872.56 180+ Days 15 831,796.73 -------- ------------ 33 2,588,931.91 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 1.179941% 1.219034% 90 Days 0.884956% 0.737380% 120 Days 0.442478% 0.390584% 150 Days 0.147493% 0.925330% 180+ Days 2.212389% 1.549062% -------- ------------ 4.867257% 4.821389% -------- ------------
REO NO OF PRINCIPAL LOANS BALANCE 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 1 63,981.89 -------- --------- 1 63,981.89 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.147493% 0.119154% -------- --------- 0.147493% 0.119154% -------- ---------
TOTAL NO OF PRINCIPAL LOANS BALANCE 0-29 Days 2 107,430.72 30 Days 20 1,971,054.79 60 Days 15 1,187,447.61 90 Days 8 462,453.05 20 Days 4 275,086.78 150 Days 1 496,872.56 180+ Days 24 1,415,039.11 --------- ------------ 74 5,915,384.62 0-29 Days 0.294985% 0.200069% 30 Days 2.949853% 3.670711% 60 Days 2.212389% 2.211393% 0 Days 1.179941% 0.861230% 120 Days 0.589971% 0.512296% 150 Days 0.147493% 0.925330% 180+ Days 3.539823% 2.635239% --------- ------------ 10.914454% 11.016269% --------- ------------
Page 9 10 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2
Original $ Original % Current $ Current% Bankruptcy 100,000.00 0.02473268% 100,000.00 0.02986559% Fraud 12,129,702.50 3.00000000% 12,129,702.50 3.62260670% Special Hazard 4,043,234.17 1.00000000% 4,043,234.17 1.20753557%
Limit of Subordinate's Exposure to Certain Types of Losses Page 10 11 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2 COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 9.474475% Weighted Average Net Coupon 8.978840% Weighted Average Pass-Through Rate 8.442475% Weighted Average Maturity (Stepdown Calculation) 334 Beginning Scheduled Collateral Loan Count 3,291 Number of Loans Paid in Full 66 Ending Scheduled Collateral Loan Count 3,225 Beginning Scheduled Collateral Balance 341,083,576.29 Ending Scheduled Collateral Balance 334,833,546.94 Ending Actual Collateral Balance at 31-Aug-2000 335,109,112.99 Monthly P&I Constant 2,918,300.21 Ending Scheduled Balance for Premium Loans 334,833,546.94
Page 11 12 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE SERIES 1999-2
Group 1 2 Total Collateral Description Mixed ARM Mixed Fixed Weighted Average Coupon Rate 9.449830 9.603491 Weighted Average Net Rate 8.598966 8.856369 Weighted Average Maturity 344.00 280.00 Record Date 08/31/00 08/31/00 Principal And Interest Constant 2,425,905.21 492,395.00 2,918,300.21 Beginning Loan Count 2,596 695 3,291 Loans Paid In Full 49 17 66 Ending Loan Count 2,547 678 3,225 Beginning Scheduled Balance 286,378,720.14 54,704,856.15 341,083,576.29 Ending Scheduled Balance 281,205,252.94 53,628,294.00 334,833,546.94 Scheduled Principal 170,713.37 54,596.99 225,310.36 Unscheduled Principal 3,097,654.04 990,839.90 4,088,493.94 Scheduled Interest 2,255,191.84 437,798.01 2,692,989.85 Servicing Fee 119,324.50 22,793.69 142,118.19 Master Servicing Fee 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 83,733.22 11,265.66 94,998.88 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 1,658,922.16 315,766.18 1,974,688.34 Realized Loss Amount 73,612.48 31,125.26 104,737.74 Cumulative Realized Loss 198,702.34 31,711.13 230,413.47 Percentage of Cumulative Losses 0.00 0.00 0.00
1 2 Total Required Overcollateralization Amount 7,679,044.22 1,260,651.24 8,939,695.46 Overcollateralization Increase Amount 0.00 0.00 0.00 Overcollateralization Reduction Amount 1,905,099.79 0.00 1,905,099.79 Specified Overcollateralization Amount 7,679,044.22 1,260,651.24 8,939,695.46 Overcollateralization Amount 9,584,144.01 1,260,651.24 10,844,795.25 Overcollateralization Deficiency Amount 1,905,099.79 0.00 1,905,099.79 Base Overcollateralization Amount 7,679,044.22 1,260,651.24 8,939,695.46 Extra Principal Distribution Amount 0.00 0.00 0.00 Excess Cash Amount 343,934.77 79,794.01 423,728.79
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