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: November 25, 1998
ADVANTA Mortgage Loan Trust 1998-3
New York 33-61474-07 "Pending"
c/o ADVANTA Mortgage Corp., USA
Attn: William P. Garland
10790 Rancho Bernardo Road
San Diego, CA 92127
(619) 674-1800
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the October, 1998 Monthly Period of the Trust in respect of
the Home Equity Loan Pass-Through Certificates, Series 1998-3
Class A (the "Certificates") issued by the Registrant and the
performance of the Trust (including distributions of principal
and interest, delinquent balances of Home Equity 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 September 1, 1998 between ADVANTA Mortgage Corp.,
USA as Servicer, and Bankers Trust Company, as Trustee.
Item 7. Financial Statements, Exhibits
Exhibit No. Exhibit
1. Monthly Report for the October, 1998 Monthly
Period relating to the Mortgage Loan Asset-
Backed Certificates Series 1998-3, Class A
issued by the ADVANTA Mortgage Loan
Trust 1998-3.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the October, 1998 Monthly
Period relating to the Mortgage Loan Asset-Backed
Certificates, Series 1998-3, Class A issued by the
ADVANTA Mortgage Loan Trust 1998-3.
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 thereunto duly authorized.
ADVANTA Mortgage Loan Trust 1998-3
BY: ADVANTA Mortgage Corp., USA
BY: /s/ William P. Garland
William P. Garland
Senior Vice President
Loan Service Administration
November 30, 1998
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1998-3
Statement to Certificateholders
Original Prior
Face Principal
Class Value Balance Interest Principal Total
A-1 500,000,000. 498,186,853. 2,301,00 5,046,205 7,347,205.58
A-2 500,000,000. 497,499,539. 2,326,84 5,396,291 7,723,138.23
RS 242,4 242,496.51
Totals 1,000,000,000. 995,686,393. 4,870,34 10,442,496. 15,312,840.32
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
A-1 493,140,648. 5.542500% 5.355000%
A-2 492,103,248. 5.612500% 5.425000%
RS 0.000000% 0.000000%
Totals 985,243,897.22
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
A-1 00755WGA8 996.373708 4.602001 10.09241 14.694411 986.281298
A-2 00755WGB6 994.99908 4.653694 10.792583 15.446277 984.206497
RS AM980103 0 0.242497 0 0.242497 0
Delinquent Loan Information:
90+ Days Loans Loans
30-59 60-89 excldg f/c,REO in in
Days Days & Bkrptcy REO Foreclosure
Group 1 Principal Balanc 9,753,77 2,175,59 66,9 802,07
% of Pool Balanc 1.94612% 0.43408% 0.01336% 0.00000% 0.16003%
Number of Loans 98 24 1 0 13
% of Loans 1.96393% 0.48096% 0.02004% 0.00000% 0.26052%
Group 2 Principal Balanc 8,747,38 2,640,68 259,08 315,17
% of Pool Balanc 1.76726% 0.53350% 0.05234% 0.00000% 0.06368%
Number of Loans 162 42 5 0 7
% of Loans 2.15914% 0.55978% 0.06664% 0.00000% 0.09330%
Loans in Bankrup Group 1 664,778.39
Group 2 345,691.04
1,010,469.43
General Mortgage Loan Information:
Group I Group II Total
Beginning Aggregate Mortgage Loan Balance 396,024,826. 498,644,903. 894,669,729.
Prefunding 108,392,548. #VALUE!
Principal Reduction 3,226,617 3,675,01 6,901,636
Ending Aggregate Mortgage Loan Balance 501,191,088. 494,969,883. 996,160,972.
Beginning Aggregate Mortgage Loan Count 5018 7560 12578
Ending Aggregate Mortgage Loan Count 4990 7503 12493
Current Weighted Average Coupon Rate 10.017440% 9.957528% 9.987653%
Next Weighted Average Coupon Rate 10.015460% 9.953372% 9.984610%
Mortgage Loan Principal Reduction Information:
Group I Group II Total
Scheduled Principal 239,91 625,8 865,73
Curtailments (12,8 (12,5
Prepayments 2,865,537 2,957,86 5,823,398
Repurchases/Substitutions 134,00 91,0 225,06
Liquidation Proceeds
Other Principal
Less: Realized Losses
Less: Delinquent Principal not Advanced by Servicer
Total Principal Reduction 3,226,617 3,675,01 6,901,636
Servicer Information:
Group I Group II Total
Accrued Servicing Fee for the Current Period 210,17 207,7 417,94
Less: Amounts to Cover Interest Shortfalls 1, 2,2
Less: Delinquent Service Fees 29,4 33,0 62,4
Collected Servicing Fees for Current Period: 179,79 173,4 353,23
Advanced Principal 12,2 37,9 50,2
Advanced Interest 595,09 675,7 1,270,845
Other Subordination
Prepayment Unscheduled Increase Applied Realized Loss Unpaid
Principal Principal Principal Realized Loss Amortization Realized Loss
Class Distributed Distributed Distributed Amount Amount Amount
A-1 2,814,08 102,6
A-2 3,009,31 109,8
RS
Total 5,823,39 212,5
Has a Senior Prior Supplemental Extra Extra
Trigger Event Enhancement Subordinated Interest Principal Principal
Occurred Percentage Amount Amount Dist. Amt. Distributed
Group I NO N/A (102,162,027. 1,819,58 1,819,587
Group II NO N/A 1,145,36 1,721,27 1,721,271
Total (101,016,663. 3,540,85 3,540,859
Current Target
Subordinated Overcollateralization
Amount Amount
Group I 8,050,439.77 26,289,224.05
Group II 2,866,635.41 17,750,000.82
Total 10,917,075.18 44,039,224.87
Group I Group II Total
Insured Payment 0.00 0.00 0.00
Pool Rolling six month delinquency rate N/A N/A N/A
Pool Cumulative 12 months loss ratio - average balance N/A N/A N/A
Pool Cumulative 12 months loss ratio - current balance 0.00% 0.00% 0.00%
60+ day Delinquent loans (excluding f/c, reo & bankruptcy) 2,242,570.50 2,899,767.72 5,142,338.22
Book Value of REO loans 0.00 0.00 0.00
TOTAL AVAILABLE FUNDS:
Current Interest Collected: 7,015,194.77
Principal Collected: 6,626,323.81
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 1,270,845.03
Delinquency Advances on Mortgage Principal 50,252.55
Substitution Amounts: 225,060.47
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 334,192.58
Capitalized Interest Requirement: -
Capitalized Interest Fund Earnings 2,669.00
Capitalized Interest Account 188,524.45
Investment Earnings on Pre-Funding Account 51,303.06
Pre-Funding Account: -
Sum of the Above Amounts: 15,764,365.72
LESS:
Servicing Fees (including PPIS): 355,448.03
Dealer Reserve: -
Trustee Fees: 5,851.20
Insurance Premiums: 90,226.17
Reimbursement of Delinquency Advances/Servicing -
Total Reductions to Available Funds Amount: 451,525.40
Total Available Funds: 15,312,840.