Exhibit 99.3
First Alliance Mortgage Loan Trust
Mortgage Loan Asset Backed Notes Series 1998-1A
1998 - Annual Statement
DISTRIBUTION DOLLARS
ENDING
PERIOD CLASS CUST INTEREST PRINCIPAL BALANCE
199804 NOTE $214,669.00 $710,517.91 $53,889,482.09
199805 NOTE $263,440.98 $1,528,026.48 $52,361,455.61
199806 NOTE $281,568.27 $841,392.73 $51,520,062.88
199807 NOTE $235,067.44 $1,623,594.66 $49,896,468.22
199808 NOTE $252,051.66 $1,886,571.96 $48,009,896.26
199809 NOTE $250,011.64 $2,089,222.58 $45,920,673.68
199810 NOTE $215,846.30 $1,952,294.07 $43,968,379.61
199811 NOTE $205,849.30 $2,702,789.49 $41,265,590.12
199812 NOTE $187,298.94 $4,414,080.29 $36,851,509.83
Total Note: $2,105,803.53 $17,748,490.17
Total Class R Certificates: $73,635.95
Factor Information Per $1,000
PRINCIPAL INTEREST ENDING NOTE INIT NOTE CURR NOTE
CLASS DISTRIBUTION DISTRIBUTION BALANCE RATE RATE
NOTE 325.06392252 38.56783021 674.93607747 5.89750% 5.27094%
CERT N/A N/A N/A N/A N/A
Per $1,000
NOTE DISTRIBUTION: $19,854,293.37 363.63
SCHEDULED PRINCIPAL: $347,574.92
PREPAYMENTS & PREFUNDING ACT. REMAINDER: $10,379,372.27
SUBORDINATION INCREASE $552,628.81
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TOTAL PRINCIPAL DISTRIBUTION: $17,748,490.17 325.06
TOTAL INTEREST DISTRIBUTION: $2,105,803.53
INSURED PAYMENT: 0.00
LOAN PURCHASE PRICES: $2,008,578.30
SUBSTITUTION AMOUNTS:
SUBORDINATION REDUCTION AMOUNT: 0.00
CURRENT REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES: 0.00
NUMBER LOAN BALANCE
LOANS BOUGHT BACK PURSUANT TO SECTION 2.4
CURRENT: 0 0.00
CUMULATIVE: 0 0.00
LOANS BOUGHT BACK PURSUANT TO SECTION 2.6
CURRENT: 0 0.00
CUMULATIVE: 0 0.00
LOANS BOUGHT BACK PURSUANT TO SECTION 4.10
CURRENT: 0 0.00
CUMULATIVE: 0 0.00
AVAILABLE FUNDS CAP CARRY-FORWARD AMOUNT: 0.00
DELINQUENT MORTGAGE LOANS(includes loans in foreclosure and bankruptcy):
AGGREGATE
CATEGORY NUMBER LOAN BALANCE PERCENTAGE
30-59 DAYS 7 $574,068.80 1.52%
60-89 DAYS 3 $171,031.42 0.45%
90+ DAYS 9 $688,895.98 1.82%
LOANS IN FORECLOSURE(included in delinquencies above):
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
17 $1,325,701.72 3.51%
LOANS IN BANKRUPTCY(included in delinquencies above):
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
1 $39,971.27 0.11%
REO PROPERTIES(included in delinquencies above):
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
0 $0.00 0.00%
ENDING AGGREGATE LOAN BALANCE: $37,807,009.83
BOOK VALUE OF REO PROPERTY: 0.00