SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): December 20, 1999 ----------------- First Alliance Mortgage Company on behalf of First Alliance Mortgage Loan Trust 1999-2 ----------------------------------------- (Exact name of registrant as specified in its charter) New York 333-44585-07 52-2190109 - ---------------------------- ------------ ------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) c/o Norwest Bank Minnesota, N.A. as Trustee Sixth Street and Marquette Avenue Minneapolis, MN 55479 --------------------- (Address of principal executive offices) Registrant's telephone number, including area code: (612) 667-1234 Not Applicable -------------------------------------------------------------- (Former name or former address, if changed since last report.) Item 5. Other Events. Information relating to the distributions to Certificateholders for the December 1999 Monthly Period of the Trust in respect of the First Alliance Mortgage Loan Asset Backed Certificates, Series 1999-2, Class A (the "Certificates") issued by the Registrant and the performance of the Trust (including distributions of principal and interest, delinquent balances of Mortgage Loans, and the subordinated amount remaining), together with certain other information relating to the certificates, is contained in the Monthly Report for the Monthly Period provided to certificateholders pursuant to the Pooling and Servicing Agreement (the "Agreement") dated as of June 1, 1999 between First Alliance Mortgage Company as Servicer, and Norwest Bank, as trustee. Item 7. Exhibit. Monthly Report for the December 1999 Monthly Period relating to the First Alliance Mortgage Loan Asset Backed Certificates Series 1999-2, Class A issued by the First Alliance Mortgage Loan Trust 1999-2. - -------------------------------------------------------------------------------- FIRST ALLIANCE MORTGAGE COMPANY MORTGAGE LOAN ASSET BACKED NOTES SERIES 1999-2 ================================================================================ DISTRIBUTION: 20-Dec-99 ==================================================================================================================================== ORIGINAL BEGINNING ENDING CLASS NOTE NOTE PRINCIPAL INTEREST TOTAL CERTIFICATE BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE - ------------------------------------------------------------------------------------------------------------------------------------ A-1 55,000,000.00 52,600,209.35 501,152.78 310,779.57 811,932.35 52,099,056.57 A-2 35,000,000.00 33,615,806.70 1,045,739.99 154,063.11 1,199,803.10 32,570,066.71 R 0.00 0.00 0.00 0.00 0.00 0.00 OC 0.00 667,176.80 0.00 0.00 0.00 813,883.70 ==================================================================================================================================== TOTALS 90,000,000.00 86,883,192.85 1,546,892.77 464,842.68 2,011,735.45 85,483,006.98 ==================================================================================================================================== Principal Distribution Factors Statement ==================================================================================================================================== ORIGINAL BEGINNING SCHEDULED UNSCHEDULED ENDING ENDING TOTAL TOTAL CLASS FACE CERTIFICATE PRINCIPAL PRINCIPAL REALIZED CERTIFICATE CERTIFICATE PRINCIPAL PRINCIPAL BALANCE BALANCE DISTRIBUTION DISTRIBUTION ACCERTION LOSS (3) BALANCE PERCENTAGE REDUCTION DISTRIBUTION - ------------------------------------------------------------------------------------------------------------------------------------ A-1 55,000,000.00 956.36744273 0.00000000 9.11186873 0.00000000 0.00000000 947.25557400 0.94725557 9.11186873 9.11186873 A-2 35,000,000.00 960.45162000 0.00000000 29.87828543 0.00000000 0.00000000 930.57333457 0.93057333 29.87828543 29.87828543 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 - - - 0.00000000 OC 0.00 - 0.00000000 0.00000000 0.00000000 0.00000000 - - - 0.00000000 ==================================================================================================================================== Interest Distribution Factors Statement ==================================================================================================================================== PAYMENT OF ORIGINAL CURRENT BEGINNING CURRENT UNPAID CURRENT NON-SUPPORTED ENDING TOTAL CLASS FACE CERTIFICATE CERTIFICATE/ ACCRUED INTEREST INTEREST INTEREST REALIZED CERTIFICATE/ INTEREST BALANCE RATE NOTIONAL BAL. INTEREST SHORTFALL SHORTFALL SHORTFALL LOSSES NOTIONAL BAL DISTRIBUTION - ------------------------------------------------------------------------------------------------------------------------------------ A-1 55,000,000.00 7.09000% 956.36744273 5.65053764 0.00000000 0.00000000 0.00000000 0.00000000 947.25557400 5.65053764 A-2 35,000,000.00 5.89250% 960.45162000 4.40180314 0.00000000 0.00000000 0.00000000 0.00000000 930.57333457 4.40180314 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 - 0.00000000 ==================================================================================================================================== - -------------------------------------------------------------------------------- FIRST ALLIANCE MORTGAGE COMPANY MORTGAGE LOAN ASSET BACKED NOTES SERIES 1999-2 ================================================================================ DELINQUENCY STATUS Percentage Delinquent Based On Current Unpaid Number Principal Number of Unpaid Balance Group of Loans Balance Loans ---------------------------------------------------------------------------------------------------- I ---------------------------------------------------------------------------------------------------- 30 Days 16 1,660,285.12 2.914% 3.159% 60 Days 8 472,566.36 1.457% 0.899% 90+ Days 3 392,394.02 0.546% 0.747% Foreclosure 9 702,253.92 1.639% 1.336% Bankruptcy 2 179,730.70 0.364% 0.342% REO 0 0.00 0.000% 0.000% ---------------------------------------------------------------------------------------------------- Totals 38 3,407,230.12 ---------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------- II 30 Days 4 471,871.93 1.465% 1.433% 60 Days 4 284,984.88 1.465% 0.866% 90+ Days 6 903,026.45 2.198% 2.743% Foreclosure 8 1,074,000.45 2.930% 3.262% Bankruptcy 0 0.00 0.000% 0.000% REO 0 0.00 0.000% 0.000% ---------------------------------------------------------------------------------------------------- Totals 22 2,733,793.71 ---------------------------------------------------------------------------------------------------- Current Period Realized Loss 0.00 Cumulative Realized Losses 0.00 Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00 Group 1 2 ---------------------- -------------------- Subordinate Amount 460,259.87 353,623.83 Subordinate Reduction Amount - - Required Subordinate Amount 825,000.00 1,050,000.00 Subordinate Increase Amount 440,973.01 766,850.19 Extra Principal Distribution Amount 76,232.88 70,474.02 Excess Cash Amount 76,232.88 70,474.02 --------------------------------------------------------------- COLLATERAL STATEMENT --------------------------------------------------------------- Beginning Scheduled Collateral Balance 86,883,192.85 Ending Scheduled Collateral Balance 85,483,006.98 Scheduled Principal Group I 41,957.06 Scheduled Principal Group II 25,630.61 Unscheduled Principal Group I 382,962.84 Unscheduled Principal Group II 949,635.36 --------------------------------------------------------------- SIGNATURE --------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. First Alliance Mortgage Loan Trust 1999-2 ----------------------------------------- (Registrant) By: First Alliance Mortgage Company -------------------------------------- (Servicer) Date: December 30, 1999 By: /S/ Francisco Nebot ----------------- -------------------------------------- Name: Francisco Nebot ------------------------------------ Executive Vice President Title: and Chief Financial Officer -----------------------------------