Exhibit 99.2

     Deloitte & Touche LLP
     Suite 1200                              Telephone: (714) 436-7100
     695 Town Center Drive                   Facsimile: (714) 436-7200
     Costa Mesa, California  92626-1924


INDEPENDENT AUDITORS' REPORT

We have examined management's assertion about First Alliance Mortgage Company's
compliance with the minimum servicing standards identified in the Mortgage
Bankers Association of America's Uniform Single Attestation Program for Mortgage
Bankers (USAP) as of and for the year ended December 31, 1999, included in the
accompanying management assertion. Management is responsible for First Alliance
Mortgage Company's compliance with those minimum servicing standards. Our
responsibility is to express an opinion on management's assertion about the
entity's compliance based on our examination.

Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about First Alliance Mortgage Company's
compliance with the minimum servicing standards and performing such other
procedures as we considered necessary in the circumstances. We believe that our
examination provides a reasonable basis for our opinion. Our examination does
not provide a legal determination on First Alliance Mortgage Company's
compliance with the minimum servicing standards.

In our opinion, management's assertion that First Alliance Mortgage Company
complied with the aforementioned minimum servicing standards as of and for the
year ended December 31, 1999 is fairly stated, in all respects.



/S/ Deloitte & Touche LLP
Costa Mesa, CA
March 30, 2000