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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest Event
Reported): December 27, 1999
BEAR STEARNS ASSET BACKED SECURITIES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 333-83541 13-3836437
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
245 Park Avenue
New York, New York 10167
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (212) 272-4095
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Item 7. Financial Statements, Pro Forma Financial
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Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
19.1. Servicing Certificate for Home Equity Loan-Backed Notes and
Certificates, Series 1999-2 (the "Securities"), for the December 1999
distribution to holders of the Securities.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
BEAR STEARNS ASSET BACKED
SECURITIES, INC.
By:
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Jonathan Lieberman
Managing Director
Dated: January 12, 2000
EXHIBIT INDEX
Exhibit No.
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19.1 Servicing Certificate for Home Equity Loan-Backed Notes
and Certificates, Series 1999-2(the "Securities"), for
December 1999 distribution to holders of the Securities.
Exhibit 19.1
Home Equity Loan-Backed Term Notes, GMACM Series 1999-2, Group 4
Payment Date 12/27/99
Servicing Certificate
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Beginning Pool Balance 57,449,472.01
Beginning PFA 17,550,527.99
Ending Pool Balance 56,206,877.57
Ending PFA Balance 17,550,527.99
Principal Collections 1,235,994.44
Principal Draws (6,600.00)
Net Principal Collection 1,242,594.44
Interest Collections 479,588.14
Weighted Average Net Loan Rate 9.84000%
Substitution Adjustment Amount 0.00
Note Rate 7.5200%
Term Notes Amount Factor
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Beginning Balance 75,000,000.00 1.0000000
Ending Balance 75,000,000.00 1.0000000
Principal - 0.0000000
Interest 470,000.00 6.2666667
Interest Shortfall 0.00 0.0000000
Security Percentage 100.00%
Variable Funding Notes Amount
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Beginning Balance 0.00
Ending Balance 0.00
Principal 0.00
Interest 0.00
Interest Shortfall 0.00
Security Percentage 0.00%
Certificates 0.00
Beginning Reserve Amount 0.00
Reserve Amount Increase (Decrease) 120,076.79
Outstanding Reserve Amount 120,076.79
Credit Enhancement Draw Amount 0.00
Unreimbursed Prior Draws 0.00
Number Percent
Balance of Loans of Balance
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Delinquent Loans (30 Days) 311,227.44 10 0.55%
Delinquent Loans (60 Days) - 0 0.00%
Delinquent Loans (90+ Days) (1) - 0 0.00%
Foreclosed Loans - 0 0.00%
REO 0.00 0 0.00%
(1) 90+ Figures Include Foreclosures and REO
Liquidation To-Date
Beginning Loss Amount 0.00
Current Month Loss Amount 0.00
Ending Loss Amount 0.00
Special Hazard Fraud Bankruptcy
Beginning Amount 0.00 0.00 0.00
Current Month Loss Amount 0.00 0.00 0.00
Ending Amount - - -
Liquidation Loss Distribution Amounts 0.00
Extraordinary Event Losses 0.00
Excess Loss Amounts 0.00
Capitalized Interest Account
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Beginning Balance 290,198.49
Withdraw relating to prior
month Collection Period 98,162.36
Interest Earned (Zero, Paid
to Funding Account) 0.00
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Total Ending Capitalized
Interest Account Balance 192,036.13
Funding Account
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Beginning Funding Account Balance -
Deposit to Funding Account 1,362,671.23
Payment for Additional Purchases -
Ending Funding Account Balance 1,362,671.23
Prefunding Account
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Beginning Balance 17,550,527.99
Additional Purchases during
Revolving Period 0.00
Excess of Draws over Principal
Collections 0.00
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Total Ending Balance 17,550,527.99
Reserve Account
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Beginning Balance 0.00
Deposits to Reserve Account
for current Payment Date 0.00
Withdrawals from Reserve
Account for current Payment Date 0.00
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Total Ending Reserve Account Balance
as of current Payment Date 0.00