Mortgage Lenders Network
Asset Backed Notes
Record Date: 11/30/99
Distribution Date: 12/27/99
MLN Series: 1999-2
Contact: Customer Service - CTSLink
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
A 61913JAG1 SEN 7.58300% 144,953,790.00 915,987.16 790,645.49
R MLN99002R RES 0.00000% 0.00 0.00 0.00
OC MLN9902OC OC 0.00000% 28,364.16 0.00 0.00
Totals 144,982,154.16 915,987.16 790,645.49
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
A 0.00 144,163,144.51 1,706,632.65 0.00
R 0.00 0.00 0.00 0.00
OC 0.00 327,380.11 0.00 0.00
Totals 0.00 144,490,524.62 1,706,632.65 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
A 144,953,790.00 144,953,790.00 94,902.29 695,743.20 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
OC 28,364.16 28,364.16 0.00 0.00 0.00 0.00
Totals 144,982,154.16 144,982,154.16 94,902.29 695,743.20 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
A 790,645.49 144,163,144.51 0.99454553 790,645.49
R 0.00 0.00 0.00000000 0.00
OC 0.00 327,380.11 11.54203438 0.00
Totals 790,645.49 144,490,524.62 0.99660903 790,645.49
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
A 144,953,790.00 1000.00000000 0.65470720 4.79975860 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
OC 28,364.16 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) Per $1,000 Denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
A 0.00000000 5.45446580 994.54553420 0.99454553 5.45446580
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 11542.03438424 11.54203438 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
A 144,953,790.00 7.58300% 144,953,790.00 915,987.16 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
OC 28,364.16 0.00000% 28,364.16 0.00 0.00 0.00
Totals 144,982,154.16 915,987.16 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
A 0.00 0.00 915,987.16 0.00 144,163,144.51
R 0.00 0.00 0.00 0.00 0.00
OC 0.00 0.00 0.00 0.00 327,380.11
Totals 0.00 0.00 915,987.16 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
A 144,953,790.00 7.58300% 1000.00000000 6.31916668 0.00000000 0.00000000
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
OC 28,364.16 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) Per $1,000 Denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
A 0.00000000 0.00000000 6.31916668 0.00000000 994.54553420
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 11542.03438424
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Rate Balance Balance Balance Balance Percentage
Class
MBIA 1,200.00000% 0.00 0.00 0.00 0.00 0.00000000%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 1,804,118.82
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 1,804,118.82
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 97,486.18
Payment of Interest and Principal 1,706,632.64
Total Withdrawals (Pool Distribution Amount) 1,804,118.82
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
Gross Servicing Fee 60,409.23
Trustee Fee 2,416.36
FSA Premium 26,574.86
MGIC Premium 8,085.73
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 97,486.18
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
Financial Guaranty 0.00 0.00 0.00 0.00
CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
30 Days 44 2,718,500.10 1.981982% 1.881438%
60 Days 9 525,378.03 0.405405% 0.363607%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 1 60,000.00 0.045045% 0.041525%
REO 0 0.00 0.000000% 0.000000%
Totals 54 3,303,878.13 2.432432% 2.286571%
OTHER INFORMATION
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Principal Balance of Contaminated Properties 0.00
Current Period Class A Insufficient Funds 0.00
Periodic Advance 0.00
Class OC 0.00 0.00000000% 0.00 0.00000000% 0.226575% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 10.825404%
Weighted Average Net Coupon 10.325401%
Weighted Average Pass-Through Rate 10.305398%
Weighted Average Maturity(Stepdown Calculation ) 250
Beginning Scheduled Collateral Loan Count 2,226
Number Of Loans Paid In Full 6
Ending Scheduled Collateral Loan Count 2,220
Beginning Scheduled Collateral Balance 144,953,790.00
Ending Scheduled Collateral Balance 144,490,524.62
Ending Actual Collateral Balance at 30-Nov-1999 144,535,829.02
Monthly P & I Constant 1,402,810.91
Ending Scheduled Balance for Premium Loans 144,490,524.62
Required Overcollateralization Amount 5,799,286.17
Overcollateralized Increase Amount 299,015.95
Overcollateralized reduction Amount 0.00
Specified O/C Amount 0.00
Overcollateralized Amount 327,380.11
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 1,449,821.54
Extra principal distribution Amount 299,015.95
Excess Cash Amount 299,015.95
Three Largest Loans Balance 814,377.77
Delinquency Percentage 0.0414%
Rolling Loss Percentage 0.0000%