Exhibit 99.2 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