Mortgage Lenders Network
Mortgage Pass-Through Certificates
Record Date: 7/31/99
Distribution Date: 8/25/99
MLN Series: 1999-1
Contact: Customer Service
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 846-8130
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
A1 61913JAE6 SEN 6.94500% 99,532,968.08 576,047.05 1,287,291.34
A2 61913JAF3 SEN 6.99500% 44,368,242.53 258,629.88 814,970.11
OC MLN9901OC OC 0.00000% 333,671.36 0.00 0.00
R MLN99001R RES 0.00000% 0.00 0.00 0.00
Totals 144,234,881.97 834,676.93 2,102,261.45
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
A1 0.00 98,245,676.74 1,863,338.39 0.00
A2 0.00 43,553,272.42 1,073,599.99 0.00
OC 0.00 651,089.29 0.00 0.00
R 0.00 0.00 0.00 0.00
Totals 0.00 142,450,038.45 2,936,938.38 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)
A1 100,538,000.00 99,532,968.08 74,156.63 1,213,134.71 0.00 0.00
A2 44,572,000.00 44,368,242.53 28,188.09 786,782.02 0.00 0.00
OC 1,252.34 333,671.36 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 145,111,252.34 144,234,881.97 102,344.72 1,999,916.73 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
A1 1,287,291.34 98,245,676.74 0.97719943 1,287,291.34
A2 814,970.11 43,553,272.42 0.97714423 814,970.11
OC 0.00 651,089.29 519.89818260 0.00
R 0.00 0.00 0.00000000 0.00
Totals 2,102,261.45 142,450,038.45 0.98166087 2,102,261.45
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
A1 100,538,000.00 990.00346217 0.73759802 12.06642971 0.00000000
A2 44,572,000.00 995.42857691 0.63241699 17.65193440 0.00000000
OC 1,252.34 266438.31547343 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 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
A1 0.00000000 12.80402773 977.19943444 0.97719943 12.80402773
A2 0.00000000 18.28435139 977.14422552 0.97714423 18.28435139
OC 0.00000000 0.00000000 519,898.18260217 519.89818260 0.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, 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
A1 100,538,000.00 6.94500% 99,532,968.08 576,047.05 0.00 0.00
A2 44,572,000.00 6.99500% 44,368,242.53 258,629.88 0.00 0.00
OC 1,252.34 0.00000% 333,671.36 0.00 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 145,111,252.34 834,676.93 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
A1 0.00 0.00 576,047.05 0.00 98,245,676.74
A2 0.00 0.00 258,629.88 0.00 43,553,272.42
OC 0.00 0.00 0.00 0.00 651,089.29
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 834,676.93 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, 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
A1 100,538,000.00 6.94500% 990.00346217 5.72964501 0.00000000 0.00000000
A2 44,572,000.00 6.99500% 995.42857691 5.80251907 0.00000000 0.00000000
OC 1,252.34 0.00000% 266438.31547343 0.00000000 0.00000000 0.00000000
R 0.00 0.00000% 0.00000000 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
A1 0.00000000 0.00000000 5.72964501 0.00000000 977.19943444
A2 0.00000000 0.00000000 5.80251907 0.00000000 977.14422552
OC 0.00000000 0.00000000 0.00000000 0.00000000 519898.18260217
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,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% 23,988.00 23,638.00 0.00 0.00 97.71806532%
CERTIFICATE ACCOUNT
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 2,739,774.90
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 283,653.27
Realized Losses 0.00
Total Deposits 3,023,428.17
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 86,489.79
Payment of Interest and Principal 2,936,938.38
Total Withdrawals (Pool Distribution Amount) 3,023,428.17
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 60,097.87
MBIA Insurance Premium 23,988.00
Trustee Fee 2,403.92
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 86,489.79
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
Group 1 MBIA Financial Guaranty 0.00 0.00 0.00 0.00
Group 2 MBIA Financial Guaranty 0.00 0.00 0.00 0.00
Reserve Fund 0.00 0.00 0.00 0.00
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
30 Days 59 2,430,598.87 2.835175% 1.706282%
60 Days 17 1,211,855.00 0.816915% 0.850723%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 30 1,633,495.00 1.441615% 1.146714%
REO 0 0.00 0.000000% 0.000000%
Totals 106 5,275,948.87 5.093705% 3.703719%
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
Periodic Advance 283,653.27
Class OC 0.00 0.00000000% 0.00 0.00000000% 0.457065% 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 10.304731%
Weighted Average Net Coupon 9.784730%
Weighted Average Pass-Through Rate 9.784608%
Weighted Average Maturity(Stepdown Calculation ) 269
Beginning Scheduled Collateral Loan Count 2,102
Number Of Loans Paid In Full 21
Ending Scheduled Collateral Loan Count 2,081
Beginning Scheduled Collateral Balance 144,234,881.96
Ending Scheduled Collateral Balance 142,450,038.45
Ending Actual Collateral Balance at 31-Jul-1999 142,506,609.51
Monthly P &I Constant 1,340,929.38
Ending Scheduled Balance for Premium Loans 142,450,038.45
Principal Balance of Three largest Loans 710,061.35
- - Group 1
Principal Balance of Three Largest Loans 1,130,245.71
- - Group 2
Delinquency Percentage - Group 1 1.118680%
Delinquency Percentage - Group 2 1.191707%
Rolling Loss Percentage - Group 1 0.00000%
Rolling Loss Percentage - Group 2 0.00000%
Servicer Advances - Group 1 200,450.86
Servicer Advances - Group 2 83,202.41
Group Level Collateral Statement
Group ID 1 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 10.340173 10.225324
Weighted Average Net Rate 9.820173 9.705324
Weighted Average Maturity 267.00 272.00
Beginning Loan Count 1,540 562 2,102
Loans Paid In Full 16 5 21
Ending Loan Count 1,524 557 2,081
Beginning Scheduled Balance 99,723,961.31 44,510,920.65 144,234,881.96
Ending scheduled Balance 98,660,119.71 43,789,918.74 142,450,038.45
Record Date 7/31/99 7/31/99
Principal And Interest Constant 933,459.14 407,470.24 1,340,929.38
Scheduled Principal 74,156.63 28,188.09 102,344.72
Unscheduled Principal 989,684.97 692,813.82 1,682,498.79
Scheduled Interest 859,302.51 379,282.15 1,238,584.66
Servicing Fees 41,551.66 18,546.21 60,097.87
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 1,662.06 741.86 2,403.92
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 816,088.79 359,994.08 1,176,082.87
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00 0.00
Group ID 1 2
Required Overcollateralization Amount 6,431,856.10 2,855,264.05 9,287,120.12
Overcollateralization Increase Amount 223,449.74 93,968.20 317,417.94
Overcollateralization Reduction Amount 0.00 0.00 0.00
Specified Overcollateralization Amount 6,431,856.10 2,855,264.05 9,287,120.15
Overcollateralization Amount 414,442.97 236,646.32 651,089.29
Overcollateralization Deficiency Amount 0.00 0.00 0.00
Base Overcollateralization Amount 6,431,856.10 2,855,264.05 9,287,120.15
Extra Principal Distribution Amount 223,449.74 93,968.20 317,417.94
Excess Cash Amount 223,449.74 93,968.20 317,417.94
Delinquency Status By Groups
Group
30 Days 60 Days 90 + Days Foreclosure REO Bankruptcy
1 Principal Balance 2,412,722.00 977,918.00 0.00 1,293,459.00 0.00 462,139.00
Percentage Of Balance 2.445% 0.991% 0.000% 1.311% 0.000% 0.468%
Loan Count 42 13 0 19 0 9
Percentage Of Loans 2.756% 0.853% 0.000% 1.247% 0.000% 0.591%
2 Principal Balance 1,487,687.00 233,937.00 0.00 540,036.00 0.00 390,988.00
Percentage Of Balance 3.397% 0.534% 0.000% 1.233% 0.000% 0.893%
Loan Count 17 4 0 11 0 6
Percentage Of Loans 3.052% 0.718% 0.000% 1.975% 0.000% 1.077%
Totals
Principal Balance 3,900,409.00 1,211,855.00 0.00 1,833,495.00 0.00 853,127.00
Percentage Of Balance 2.738% 0.851% 0.000% 1.287% 0.000% 0.599%
Loan Count 59 17 0 30 0 15
Percentage Of Loans 2.835% 0.817% 0.000% 1.442% 0.000% 0.721%