================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 17, 1999
First Alliance Mortgage Company
(on behalf of First Alliance Mortgage Loan Trust 1999-4)
--------------------------------------------------------
(Exact name of registrant as specified in its charter)
California 333-86411-01 95-2944875
- - - - - - - - - - - ------------------------------- ---------------- -------------------
(State or Other Jurisdiction of (Commission File (I.R.S. Employer
Incorporation) Number) Identification No.)
The Chase Manhattan Bank, as Trustee
450 West 33rd Street, 15th Floor 10001-2697
New York, New York ----------
---------------------------------------- (Zip Code)
(Address of Principal Executive Offices)
Registrant's telephone number, including area code (212) 946-8600
--------------
No Change
-------------------------------------------------------------
(Former name or former address, if changed since last report)
================================================================================
Item 5. Other Events.
Reference is hereby made to the Registration Statement on Form S-3
(Registration File No. 333-86411) filed by First Alliance Mortgage Company
("First Alliance") with the Securities and Exchange Commission (the
"Commission") on September 2, 1999, as amended by Amendment No. 1 to the
Registration Statement on Form S-3 dated October 1, 1999, pursuant to which
First Alliance registered $750,000,000 aggregate principal amount of its
mortgage loan asset-backed certificates and notes, issuable in various series,
for sale in accordance with the provisions of the Securities Act of 1933, as
amended (the "Act"). Reference is also hereby made to the Prospectus dated
October 1, 1999, and the related Prospectus Supplement, dated December 10, 1999,
which were previously filed with the Commission pursuant to Rule 424(b)(5), with
respect to the FIRST ALLIANCE MORTGAGE LOAN TRUST 1999-4 Mortgage Loan Asset
Backed Certificates, Series 1999-4 (the "Certificates").
The Certificates were issued pursuant to a Pooling and Servicing
Agreement (the "Pooling and Servicing Agreement") attached hereto as Exhibit
4.1, dated as of December 1, 1999, between First Alliance Mortgage Company in
its capacities as the Seller (the "Seller") and the Servicer (the "Servicer")
and The Chase Manhattan Bank, in its capacity as trustee (the "Trustee") and the
Oversight Agent (the "Oversight Agent"). The Certificates consist of two
classes: the Class A-1 and Class A-2 Certificates (the "Class A Certificates")
and the Class R Certificates (the "Class R Certificates" and, together with the
Class A Certificates, the "Certificates"). Only the Class A Certificates were
issued pursuant to the Registration Statement. The Certificates initially
evidence, in the aggregate, 100% of the undivided beneficial ownership interests
in the Trust.
The assets of the Trust initially will include two pools (each, a
"Mortgage Loan Group") of closed-end mortgage loans (the "Mortgage Loans")
secured by mortgages or deeds of trust on one-to-four family residential
properties. The Class A-1 Fixed Rate Group Certificates represent undivided
ownership interests in a pool of fixed rate Mortgage Loans secured by mortgages
that may be either in a first or in a junior lien position. The Class A-2
Variable Rate Group Certificates represent undivided ownership interests in a
pool of variable rate Mortgage Loans secured by mortgages in a first lien
position.
Interest distributions on the Class A Certificates are based on the
Certificate Principal Balance thereof and the then applicable Pass-Through Rate
thereof. The Pass-Through Rate for the Class A-1 Certificates will be 7.52% per
annum. The Pass-Through Rate for the Class A-2 Certificates adjusts monthly
based on one-month LIBOR and with respect to the first Payment Date will be
6.84% per annum.
The Class A-1 Certificates have an aggregate principal amount of
$28,000,000. The Class A-2 Certificates have an aggregate principal amount of
$75,075,000.
As of the Startup Day, the Mortgage Loans possessed the
characteristics described in the Prospectus dated October 1, 1999 and the
Prospectus Supplement dated December 10, 1999, filed pursuant to Rule 424(b)(5)
of the Act on December 17, 1999 except that the 7 Mortgage Loans set out on
Exhibit 99.1 were removed from the Mortgage Loan Pool as a result of such
Mortgage Loans having breached the representations and warranties set out in the
Pooling and Servicing Agreement.
- 2 -
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
1.1 Underwriting Agreement, dated December 10, 1999,
between First Alliance Mortgage Company and Lehman
Brothers Inc.
4.1 Pooling and Servicing Agreement, dated as of December
1, 1999, between First Alliance Mortgage Company, as
Seller and Servicer, and The Chase Manhattan Bank, as
Trustee and Oversight Agent.
99.1 Schedule of Loans Removed Prior to Closing.
- 3 -
SIGNATURES
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.
By: FIRST ALLIANCE MORTGAGE
COMPANY
By: /s/ Francisco Nebot
-----------------------------------
Name: Francisco Nebot
Title: Executive Vice President and
Chief Financial Officer
Dated: December 30, 1999
- 4 -
EXHIBIT INDEX
Exhibit No. Description Page No.
- - - - - - - - - - - ----------- ----------- --------
1.1 Underwriting Agreement, dated December 10, 1999, between
First Alliance Mortgage Company and Lehman Brothers Inc.
4.1 Pooling and Servicing Agreement, dated as of December 1, 1999,
between First Alliance Mortgage Company, as Seller and
Servicer, and The Chase Manhattan Bank, as Trustee and
Oversight Agent.
99.1 Schedule of Loans Removed Prior to Closing.
- 5 -