Exhibit 99.3
First Alliance Mortgage Loan Trust
Mortgage Loan Asset Backed Notes Series 1998-1F
1998 - Annual Statement
DISTRIBUTION DOLLARS
ENDING
PERIOD CLASS CUST INTEREST PRINCIPAL BALANCE
199804 NOTE $305,161.67 $705,497.62 $54,694,502.38
199805 NOTE $301,275.55 $1,533,517.73 $53,160,984.65
199806 NOTE $292,828.42 $604,649.17 $52,556,335.47
199807 NOTE $289,497.81 $899,844.28 $51,656,491.19
199808 NOTE $284,541.17 $1,419,356.96 $50,237,134.23
199809 NOTE $276,722.88 $810,751.26 $49,426,382.97
199810 NOTE $272,256.99 $2,680,904.25 $46,745,478.72
199811 NOTE $257,489.68 $1,098,059.05 $45,647,419.67
199812 NOTE $251,441.20 $1,526,995.68 $44,120,423.99
Total Note: $2,531,215.37 $11,279,576.00
Total Class R Certificates: $451,066.32
Factor Information Per $1,000
PRINCIPAL INTEREST ENDING NOTE INIT NOTE CURR NOTE
CLASS DISTRIBUTION DISTRIBUTION BALANCE RATE RATE
NOTE 203.60245873 45.68980812 796.39754502 6.6100% 6.6100%
CERT N/A N/A N/A N/A N/A
Per $1000
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NOTE DISTRIBUTION: $13,810,791.37 249.29
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: $11,279,576.00 203.60
TOTAL INTEREST DISTRIBUTION: $2,531,215.37
INSURED PAYMENT: 0.00
LOAN PURCHASE PRICES: $2,008,578.30
SUBSTITUTION AMOUNTS: $0.00
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 10 $628,016.28 1.41%
60-89 DAYS 5 $216,711.51 0.49%
90+ DAYS 9 $721,456.66 1.61%
LOANS IN FORECLOSURE(included in delinquencies above):
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
22 $1,417,951.82 3.17%
LOANS IN BANKRUPTCY(included in delinquencies above):
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
0 $0.00 0.00%
REO PROPERTIES(included in delinquencies above):
AGGREGATE
NUMBER LOAN BALANCE PERCENTAGE
0 $0.00 0.00%
ENDING AGGREGATE LOAN BALANCE: $44,674,423.99
BOOK VALUE OF REO PROPERTY: 0.00