Exhibit 99.3
First Alliance Mortgage Loan Trust
Mortgage Loan Asset Backed Notes Series 1999-2
1999 - Annual Statement
DISTRIBUTION DOLLARS
ENDING
PERIOD CLASS INTEREST PRINCIPAL BALANCE
------ -------- --------------- --------------- ---------------
199907 A-1 NOTE $324,958.33 $425,425.68 $54,574,574.32
199908 A-1 NOTE $322,444.78 $228,523.94 $54,346,050.38
199909 A-1 NOTE $321,049.58 $613,249.74 $53,732,800.64
199910 A-1 NOTE $317,471.30 $599,127.87 $53,133,672.77
199911 A-1 NOTE $313,931.45 $533,463.42 $52,600,209.35
199912 A-1 NOTE $310,779.57 $501,152.78 $52,099,056.57
Total by Class $1,910,680.01 $2,900,943.43
ENDING
PERIOD CLASS INTEREST PRINCIPAL BALANCE
------ -------- --------------- --------------- ---------------
199907 A-2 NOTE $175,194.44 $97,391.57 $34,902,608.43
199908 A-2 NOTE $164,701.53 $401,827.42 $34,500,781.02
199909 A-2 NOTE $166,147.62 $299,146.74 $34,201,634.27
199910 A-2 NOTE $161,923.36 $510,934.28 $33,690,699.99
199911 A-2 NOTE $176,265.53 $74,893.29 $33,615,806.70
199912 A-2 NOTE $154,063.11 $1,045,739.99 $32,570,066.71
Total by Class $998,295.59 2,429,933.29
Total Class R Certificates: $0.00
Factor Information Per $1,000
PRINCIPAL INTEREST ENDING NOTE INIT NOTE CURR NOTE
CLASS DISTRIBUTION DISTRIBUTION BALANCE RATE RATE
- -------- ------------ ------------ ------------ ------------ ------------
A-1 NOTE 52.744426000 34.739636545 947.25557400 7.09000% 7.09000%
A-2 NOTE 69.42666543 28.52273114 930.57333457 5.30000% 5.89250
Per $1,000
NOTE DISTRIBUTION: $8,239,852.32 91.55
SCHEDULED PRINCIPAL: $363,712.61
PREPAYMENTS & PREFUNDING ACT. REMAINDER: $4,153,280.41
SUBORDINATION INCREASE: $813,883.70
--------------
TOTAL PRINCIPAL DISTRIBUTION: $5,330,876.72 59.23
TOTAL INTEREST DISTRIBUTION: $2,908,975.60
LOAN PURCHASE PRICES
A-1 RATE NOTE: $0.00
A-2 RATE NOTE: $0.00
SUBORDINATION REDUCTION AMOUNT
A-1 RATE NOTE: $0.00
A-2 RATE NOTE: $0.00
CURRENT REALIZED LOSSES
A-1 RATE NOTE: $0.00
A-2 RATE NOTE: $0.00
CUMULATIVE REALIZED LOSSES
A-1 RATE NOTE: $0.00
A-2 RATE NOTE: $0.00
DELINQUENT MORTGAGE LOANS(includes loans in foreclosure and bankruptcy):
A-1 RATE NOTE
-------------
AGGREGATE
CATEGORY NUMBER LOAN BALANCE PERCENTAGE
30-59 DAYS 16 $1,660,285.12 3.159%
60-89 DAYS 8 $472,566.36 0.899%
90+ DAYS 3 $392,394.02 0.747%
A-2 RATE NOTE
-------------
AGGREGATE
CATEGORY NUMBER LOAN BALANCE PERCENTAGE
30-59 DAYS 4 $471,871.93 1.433%
60-89 DAYS 4 $284,984.88 0.866%
90+ DAYS 6 $903,026.45 2.743%
LOANS IN FORECLOSURE(included in delinquencies above):
A-1 RATE NOTE
-------------
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
9 $702,253.92 1.336%
A-2 RATE NOTE
-------------
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
8 $1,074,000.45 3.262%
LOANS IN BANKRUPTCY(included in delinquencies above):
A-1 RATE NOTE
-------------
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
2 $179,730.70 0.342%
A-2 RATE NOTE
-------------
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
0 $0.00 0.00%
REO PROPERTIES(included in delinquencies above):
A-1 RATE NOTE
-------------
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
0 $0.00 0.00%
A-2 RATE NOTE
-------------
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
0 $0.00 0.00%
ENDING AGGREGATE LOAN BALANCE
A-1 RATE NOTE: $52,559,316.44
A-2 RATE NOTE: $32,923,690.54
BOOK VALUE OF REO PROPERTY:
A-1 RATE NOTE: $0.00
A-2 RATE NOTE: $0.00