Mortgage Lenders Network
Mortgage Pass-Through Certificates
Record Date: 8/31/99
Distribution Date: 9/27/99
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% 98,245,676.74 568,596.85 1,036,348.77
A2 61913JAF3 SEN 6.99500% 43,553,272.42 253,879.28 952,964.39
OC MLN9901OC OC 0.00000% 651,089.29 0.00 0.00
R MLN99001R RES 0.00000% 0.00 0.00 0.00
Totals 142,450,038.45 822,476.13 1,989,313.16
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
A1 0.00 97,209,327.97 1,604,945.62 0.00
A2 0.00 42,600,308.03 1,206,843.67 0.00
OC 0.00 944,524.79 0.00 0.00
R 0.00 0.00 0.00 0.00
Totals 0.00 140,754,160.79 2,811,789.29 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 98,245,676.74 73,805.98 962,542.79 0.00 0.00
A2 44,572,000.00 43,553,272.42 27,808.94 925,155.45 0.00 0.00
OC 1,252.34 651,089.29 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 145,111,252.34 142,450,038.45 101,614.92 1,887,698.24 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 1,036,348.77 97,209,327.97 0.96689140 1,036,348.77
A2 952,964.39 42,600,308.03 0.95576389 952,964.39
OC 0.00 944,524.79 754.20795471 0.00
R 0.00 0.00 0.00000000 0.00
Totals 1,989,313.16 140,754,160.79 0.96997413 1,989,313.16
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
A1 100,538,000.00 977.19943444 0.73411029 9.57392021 0.00000000
A2 44,572,000.00 977.14422552 0.62391053 20.75642668 0.00000000
OC 1,252.34 519898.18260217 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 10.30803050 966.89140395 0.96689140 10.30803050
A2 0.00000000 21.38033721 955.76388832 0.95576389 21.38033721
OC 0.00000000 0.00000000 754,207.95470879 754.20795471 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% 98,245,676.74 568,596.85 0.00 0.00
A2 44,572,000.00 6.99500% 43,553,272.42 253,879.28 0.00 0.00
OC 1,252.34 0.00000% 651,089.29 0.00 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 145,111,252.34 822,476.13 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 0.00 568,596.85 0.00 97,209,327.97
A2 0.00 0.00 253,879.28 0.00 42,600,308.03
OC 0.00 0.00 0.00 0.00 944,524.79
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 822,476.13 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% 977.19943444 5.65554169 0.00000000 0.00000000
A2 44,572,000.00 6.99500% 977.14422552 5.69593646 0.00000000 0.00000000
OC 1,252.34 0.00000% 519898.18260217 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 5.65554169 0.00000000 966.89140395
A2 0.00000000 0.00000000 5.69593646 0.00000000 955.76388832
OC 0.00000000 0.00000000 0.00000000 0.00000000 754207.95470879
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% 23,638.00 23,306.00 0.00 0.00 96.34559735%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 2,564,147.90
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 333,007.73
Realized Losses 0.00
Total Deposits 2,897,155.63
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 85,366.34
Payment of Interest and Principal 2,811,789.29
Total Withdrawals (Pool Distribution Amount) 2,897,155.63
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 59,354.18
MBIA Insurance Premium 23,638.00
Trustee Fee 2,374.16
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 85,366.34
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
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 77 4,367,978.00 3.746959% 3.103267%
60 Days 19 1,200,487.00 0.924574% 0.852896%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 43 2,871,167.00 2.092457% 2.039845%
REO 0 0.00 0.000000% 0.000000%
Totals 139 8,439,632.00 6.763990% 5.996009%
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 333,007.73
Class OC 0.00 0.00000000% 0.00 0.00000000% 0.671046% 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 10.119573%
Weighted Average Net Coupon 9.619574%
Weighted Average Pass-Through Rate 9.599575%
Weighted Average Maturity(Stepdown Calculation ) 268
Beginning Scheduled Collateral Loan Count 2,081
Number Of Loans Paid In Full 26
Ending Scheduled Collateral Loan Count 2,055
Beginning Scheduled Collateral Balance 142,450,038.45
Ending Scheduled Collateral Balance 140,754,160.79
Ending Actual Collateral Balance at 31-Aug-1999 140,815,552.43
Monthly P &I Constant 1,301,928.47
Ending Scheduled Balance for Premium Loans 140,754,160.79
Principal Balance of Three largest Loans 709,722.19
- - Group 1
Principal Balance of Three Largest Loans 1,129,698.47
- - Group 2
Delinquency Percentage - Group 1 1.723277%
Delinquency Percentage - Group 2 1.674447%
Rolling Loss Percentage - Group 1 0
Rolling Loss Percentage - Group 2 0
Servicer Advances - Group 1 232,420.41
Servicer Advances - Group 2 100,587.32
Group Level Collateral Statement
Group ID 1 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 10.055984 10.262842
Weighted Average Net Rate 9.535984 9.742842
Weighted Average Maturity 266.00 271.00
Beginning Loan Count 1,524 557 2,081
Loans Paid In Full 17 9 26
Ending Loan Count 1,507 548 2,055
Beginning Scheduled Balance 98,660,119.71 43,789,918.74 142,450,038.45
Ending scheduled Balance 97,822,813.83 42,931,346.96 140,754,160.79
Record Date 8/31/99 8/31/99
Principal And Interest Constant 899,771.84 402,156.63 1,301,928.47
Scheduled Principal 73,805.98 27,808.94 101,614.92
Unscheduled Principal 763,499.90 830,762.84 1,594,262.74
Scheduled Interest 826,770.45 374,507.52 1,201,277.97
Servicing Fees 41,108.38 18,245.80 59,354.18
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 1,644.33 729.83 2,374.16
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 784,017.74 355,531.89 1,139,549.63
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
% of Cumulative Losses 0.00 0.00 0.00
Group ID 1 2 Total
Overcollateralization Increase Amount 6,431,856.10 2,855,264.05 9,287,120.15
Overcollateralization Increase Amount 199,042.89 94,392.61 293,435.49
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 613,485.86 331,038.93 944,524.79
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 199,042.89 94,392.61 293,435.49
Excess Cash Amount 199,042.89 94,392.61 293,435.49
Delinquency Status By Groups
Group 30 Days 60 Days 90 + Days Foreclosure REO Bankruptcy
1 Principal Balance 2,459,442.00 1,036,024.00 0.00 2,128,589.00 0.00 740,036.00
Percentage Of Balanc 2.514% 1.059% 0.000% 2.176% 0.000% 0.757%
Loan Count 48 15 0 30 0 13
Percentage Of Loans 3.185% 0.995% 0.000% 1.991% 0.000% 0.863%
2 Principal Balance 1,908,536.00 164,463.00 0.00 742,578.00 0.00 390,778.00
Percentage Of Balanc 4.446% 0.383% 0.000% 1.730% 0.000% 0.910%
Loan Count 29 4 0 13 0 6
Percentage Of Loans 5.292% 0.730% 0.000% 2.372% 0.000% 1.095%
Totals:Principal Balance 4,367,978.00 1,200,487.00 0.00 2,871,167.00 0.00 1,130,814.00
Percentage of Balanc 3.103% 0.853% 0.000% 2.040% 0.000% 0.803%
Loan Count 77 19 0 43 0 19
Percentage Of Loans 3.747% 0.925% 0.000% 2.092% 0.000% 0.925%