American Residential Eagle Certificate Trust Series 1999-1 Monthly Distribution Statement (Wells Fargo Bank Minnesota, N.A.)

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Summary

This document is a monthly payment and distribution statement for the American Residential Eagle Certificate Trust Series 1999-1, administered by Wells Fargo Bank Minnesota, N.A. It details the principal and interest payments made to holders of mortgage pass-through certificates as of September 25, 2000. The statement outlines the amounts distributed, current balances, and any realized losses for each certificate class. All calculations are performed in accordance with the Pooling and Servicing Agreement, and the report is intended for certificateholders and related parties.

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EX-10.1 2 f66091ex10-1.txt MONTHLY PAYMENT DATE STATEMENT DATED 09-25-2000 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 22-Sep-2000 3:40:45PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE Series 1999-1 Certificateholder Distribution Summary
Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution - -------- --------- ----------- ------------ -------------- ------------ A 02926NAA4 SEQ 6.97000% 134,246,145.10 805,737.90 INV_CERT ARE991INV SUB 0.00000% 5,316,432.65 8,812.49 --------- --- -------- -------------- ---------- Totals 139,562,577.75 814,550.39
Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses - -------- ------------ -------- -------------- ------------ ---------- A 6,172,772.84 0.00 128,073,372.26 6,978,510.74 0.00 INV_CERT 0.00 0.00 5,316,432.65 8,812.49 0.00 ------------ ---- -------------- ------------ ---- Totals 6,172,772.84 0.00 133,389,804.91 6,987,323.23 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 22-Sep-2000 3:40:45PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE Series 1999-1 Principal Distribution Statement
Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class Amount Balance Distribution Distribution Accretion - -------- -------------- -------------- ------------ ------------ --------- A 229,000,000.00 134,246,145.10 0.00 6,172,772.84 0.00 INV_CERT 7,285,896.30 5,316,432.65 0.00 0.00 0.00 -------------- -------------- ---- ------------ ---- Totals 236,285,896.30 139,562,577.75 0.00 6,172,772.84 0.00
Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss(1) Reduction Balance Percentage Distribution - -------- -------- ------------ -------------- ----------- ------------ A 0.00 6,172,772.84 128,073,372.26 0.55927237 6,172,772.84 INV_CERT 0.00 0.00 5,316,432.65 0.72968821 0.00 ---- ------------ -------------- ---------- ------------ Totals 0.00 6,172,772.84 133,389,804.91 0.56452716 6,172,772.84
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Descript 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 22-Sep-2000 3:40:45PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE Series 1999-1 Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class(2) Amount Balance Distribution Distribution Accretion - -------- -------------- ------------ ------------ ------------ ---------- A 229,000,000.00 586.22770786 0.00000000 26.95533991 0.00000000 INV_CERT 7,285,896.30 729.68821283 0.00000000 0.00000000 0.00000000
Total Ending Ending Total Realized Principal Certificate Certificate Principal Class(2) Loss(3) Reduction Balance Percentage Distribution - -------- ---------- ----------- ------------ ----------- ------------ A 0.00000000 26.95533991 559.27236795 0.55927237 26.95533991 INV_CERT 0.00000000 0.00000000 729.68821283 0.72968821 0.00000000
(2) 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 Descript 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 22-Sep-2000 3:40:45PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE Series 1999-1 Interest Distribution Statement
Beginning Original Current Certificate/ Current Payment of Current Face Certificate Notional Accrued Unpaid Interest Class Amount Rate Balance Interest Interest Shortfall - -------- -------------- ----------- -------------- ---------- ---------- --------- A 229,000,000.00 6.97000% 134,246,145.10 805,737.90 0.00 0.00 INV_CERT 7,285,896.30 0.00000% 5,316,432.65 0.00 0.00 0.00 -------------- -------- -------------- ---------- ---- ---- Totals 236,285,896.30 805,737.90 0.00 0.00
Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Loss(4) Distribution Shortfall Balance - -------- ------------- -------- ------------ --------- -------------- A 0.00 0.00 805,737.90 0.00 128,073,372.26 INV_CERT 0.00 0.00 8,812.49 0.00 5,316,432.65 ---- ---- ---------- ---- -------------- Totals 0.00 0.00 814,550.39 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 22-Sep-2000 3:40:45PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE Series 1999-1 Interest Distribution Factors Statement
Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class(5) Amount Rate Balance Interest Shortfall Shortfall - -------- -------------- ----------- ------------ ---------- ---------- ---------- A 229,000,000.00 6.97000% 586.22770786 3.51850611 0.00000000 0.00000000 INV_CERT 7,285,896.30 0.00000% 729.68821283 0.00000000 0.00000000 0.00000000
Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class(5) Shortfall Loss(6) Distribution Shortfall Balance - -------- ------------- ---------- ------------ ---------- ------------ A 0.00000000 0.00000000 3.51850611 0.00000000 559.27236795 INV_CERT 0.00000000 0.00000000 1.20952723 0.00000000 729.68821283
(5) 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 22-Sep-2000 3:40:45PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE Series 1999-1 Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage - ----- ------------ --------- --------- --------- --------- ------------ FSA 1,200.00000% 25,730.51 24,547.40 0.00 0.00 55.92724086%
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 22-Sep-2000 3:40:45PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE Series 1999-1 Certificateholder Account Statement
CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 7,367,428.15 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (266,603.51) ------------ Total Deposits 7,100,824.64 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 113,501.41 Payment of Interest and Principal 6,987,323.23 ------------ Total Withdrawals (Pool Distribution Amount) 7,100,824.64 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 58,151.00 Management Fee 1,000.00 Trustee Fee 581.53 FSA Insurance Premium 25,730.51 Mortgage Insurance Premium 28,038.37 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 113,501.41 ==========
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ --------- ----------- -------- ------- Financial Guaranty 0.00 0.00 0.15 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 22-Sep-2000 3:40:45PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE Series 1999-1 Loan Status Stratification/Credit Enhancement Statement DELINQUENT
No. of Principal Loans Balance ----- ------------ 30 Days 32 2,788,460.17 60 Days 16 1,602,148.08 90 Days 6 238,485.79 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------ 54 4,629,094.04
No. of Principal Loans Balance --------- --------- 30 Days 2.570281% 2.090460% 60 Days 1.285141% 1.201102% 90 Days 0.481928% 0.178789% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 4.337349% 3.470351%
BANKRUPTCY
No. of Principal Loans Balance ------ ------------ 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 49 5,346,543.07 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------ 49 5,346,543.07
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 3.935743% 4.008210% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 3.935743% 4.008210%
FORECLOSURE
No. of Principal Loans Balance ------ ------------ 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 63 6,833,924.43 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------ 63 6,833,924.43
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 5.060241% 5.123273% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 5.060241% 5.123273%
REO
No. of Principal Loans Balance ------ ------------ 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 27 2,564,091.85 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -- ------------ 27 2,564,091.85
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 2.168675% 1.922255% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 2.168675% 1.922255%
Total
No. of Principal Loans Balance ------ ------------- 0-29 Days 0 0.00 30 Days 32 2,788,460.17 60 Days 16 1,602,148.08 90 Days 145 14,983,045.14 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 --- ------------- 193 19,373,653.39
No. of Principal Loans Balance ---------- ---------- 0-29 Days 0.000000% 0.000000% 30 Days 2.570281% 2.090460% 60 Days 1.285141% 1.201102% 90 Days 11.646586% 11.232526% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% --------- --------- 15.502008% 14.524089%
(7) The 90 day category of REO, foreclosure and bankruptcies contain all loans in their respective category. Current Period Realized Loss - Includes Interest Shortfall 0.00 Cumulative Realized Losses - Includes Interest Shortfall 2,735,028.86 Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current Next Original $ Original% Current $ Current% Class% Prepayment% ------------ ----------- ------------ ----------- ---------- ----------- Class A 7,285,896.30 3.08350876% 5,316,432.65 3.98563642% 96.014364% 0.000000%
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure 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 22-Sep-2000 3:40:45PM Telephone: (301) 815-6600 Fax: (301) 846-8152
ARE Series 1999-1 COLLATERAL STATEMENT
Collateral Description Fixed Mixed & ARM & Balloon Weighted Average Gross Coupon 10.272337% Weighted Average Net Coupon 9.772337% Weighted Average Pass-Through Rate 9.767337% Weighted Average Maturity (Stepdown Calculation) 311 Beginning Scheduled Collateral Loan Count 1,291 Number of Loans Paid in Full 46 Ending Scheduled Collateral Loan Count 1,245 Beginning Scheduled Collateral Balance 139,562,577.75 Ending Scheduled Collateral Balance 133,389,804.93 Ending Actual Collateral Balance at 31-Aug-2000 133,389,804.93 Monthly P&I Constant 1,259,347.74 Class A Optimal Amount 7,004,241.26 Ending Scheduled Balance for Premium Loans 133,389,804.93 Scheduled Principal 92,730.58 Unscheduled Principal 6,080,042.26 Required Overcollateralized Amount 5,316,432.67 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 5,316,432.65 Overcollateralized Amount 5,316,432.65 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 5,316,432.65 Extra Principal Distribution Amount 0.00 Excess Cash Amount 275,416.22
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