Mortgage Lenders Network
Mortgage Pass-Through Certificates
Record Date: 10/31/99
Distribution Date: 11/26/99
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% 95,666,175.01 553,667.99 1,893,936.76
A2 61913JAF3 SEN 6.99500% 41,807,666.44 243,703.86 1,088,322.58
OC MLN9901OC OC 0.00000% 1,257,439.94 0.00 0.00
R MLN99001R RES 0.00000% 0.00 0.00 0.00
Totals 138,731,281.39 797,371.85 2,982,259.34
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
A1 0.00 93,772,238.25 2,447,604.75 0.00
A2 0.00 40,719,343.86 1,332,026.44 0.00
OC 0.00 1,569,904.08 0.00 0.00
R 0.00 0.00 0.00 0.00
Totals 0.00 136,061,486.19 3,779,631.19 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 95,666,175.01 73,589.37 1,820,347.39 0.00 0.00
A2 44,572,000.00 41,807,666.44 27,409.46 1,060,913.12 0.00 0.00
OC 1,252.34 1,257,439.94 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 145,111,252.34 138,731,281.39 100,998.83 2,881,260.51 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 1,893,936.76 93,772,238.25 0.93270443 1,893,936.76
A2 1,088,322.58 40,719,343.86 0.91356331 1,088,322.58
OC 0.00 1,569,904.08 1,253.57656866 0.00
R 0.00 0.00 0.00000000 0.00
Totals 2,982,259.34 136,061,486.19 0.93763567 2,982,259.34
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
A1 100,538,000.00 951.54245171 0.73195578 18.10606328 0.00000000
A2 44,572,000.00 937.98049089 0.61494795 23.80223279 0.00000000
OC 1,252.34 1004072.32860086 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 18.83801906 932.70443265 0.93270443 18.83801906
A2 0.00000000 24.41718074 913.56331015 0.91356331 24.41718074
OC 0.00000000 0.00000000 1,253,576.5686634 1253.57656866 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% 95,666,175.01 553,667.99 0.00 0.00
A2 44,572,000.00 6.99500% 41,807,666.44 243,703.86 0.00 0.00
OC 1,252.34 0.00000% 1,257,439.94 0.00 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 145,111,252.34 797,371.85 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 0.00 553,667.99 0.00 93,772,238.25
A2 0.00 0.00 243,703.86 0.00 40,719,343.86
OC 0.00 0.00 0.00 0.00 1,569,904.08
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 797,371.85 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% 951.54245171 5.50705196 0.00000000 0.00000000
A2 44,572,000.00 6.99500% 937.98049089 5.46764471 0.00000000 0.00000000
OC 1,252.34 0.00000% 1004072.32860086 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 5.50705196 0.00000000 932.70443265
A2 0.00000000 0.00000000 5.46764471 0.00000000 913.56331015
OC 0.00000000 0.00000000 0.00000000 0.00000000 1253576.56866346
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% 22,917.00 22,420.00 0.00 0.00 92.68292683%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 3,516,776.69
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 345,888.40
Realized Losses 0.00
Total Deposits 3,862,665.09
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 83,033.90
Payment of Interest and Principal 3,779,631.19
Total Withdrawals (Pool Distribution Amount) 3,862,665.09
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 57,804.71
MBIA Insurance Premium 22,917.00
Trustee Fee 2,312.19
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 83,033.90
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 114 6,849,797.16 5.685786% 5.034340%
60 Days 31 1,728,822.05 1.546135% 1.270618%
90+ Days 2 117,500.19 0.099751% 0.086358%
Foreclosure 68 4,507,085.78 3.391521% 3.312536%
REO 2 183,581.65 0.099751% 0.134926%
Totals 217 13,386,786.83 10.822943% 9.838777%
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 345,888.40
Class OC 0.00 0.00000000% 0.00 0.00000000% 1.153820% 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 10.318104%
Weighted Average Net Coupon 9.818103%
Weighted Average Pass-Through Rate 9.798104%
Weighted Average Maturity(Stepdown Calculation ) 266
Beginning Scheduled Collateral Loan Count 2,031
Number Of Loans Paid In Full 26
Ending Scheduled Collateral Loan Count 2,005
Beginning Scheduled Collateral Balance 138,731,281.40
Ending Scheduled Collateral Balance 136,061,486.19
Ending Actual Collateral Balance at 31-Oct-1999 136,137,615.04
Monthly P &I Constant 1,293,868.71
Ending Scheduled Balance for Premium Loans 136,061,486.19
Principal Balance of Three largest Loans 702,485.54
- - Group 1
Principal Balance of Three Largest Loans 1,128,590.27
- - Group 2
Delinquency Percentage - Group 1 3.577477%
Delinquency Percentage - Group 2 2.749372%
Rolling Loss Percentage - Group 1 0.0000%
Rolling Loss Percentage - Group 2 0.0000%
Servicer Advances - Group 1 246,834.90
Servicer Advances - Group 2 99,053.50
Group Level Collateral Statement
Group ID 1 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 10.289391 10.383713
Weighted Average Net Rate 9.769391 9.863712
Weighted Average Maturity 264.00 269.00
Beginning Loan Count 1,491 540 2,031
Loans Paid In Full 21 5 26
Ending Loan Count 1,470 535 2,005
Beginning Scheduled Balance 96,498,566.93 42,232,714.47 138,731,281.40
Ending scheduled Balance 94,820,624.37 41,240,861.82 136,061,486.19
Record Date 10/31/99 10/31/99
Principal And Interest Constant 901,015.60 392,853.11 1,293,868.71
Scheduled Principal 73,589.37 27,409.46 100,998.83
Unscheduled Principal 1,604,353.19 964,443.19 2,568,796.38
Scheduled Interest 827,426.23 365,443.65 1,192,869.88
Servicing Fees 40,207.73 17,596.98 57,804.71
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 1,608.31 703.88 2,312.19
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 785,610.19 347,142.79 1,132,752.98
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
Required Overcollateralization Amount 1 2 Total
6,431,856.10 2,855,264.05 9,287,120.15
Overcollateralization Increase Amount 215,994.20 96,469.93 312,464.14
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 1,048,386.12 521,517.96 1,569,904.08
Overcollateralization Deficiency Amount 0.00 0.00 0.00
Base Overcollateralization Amount 6,431,856.10 2,855,264.05 9,287,120.15
Excess Cash Amount 215,994.20 96,469.93 312,464.14
Extra Principal Distribution Amount 215,994.20 96,469.93 312,464.14
Delinquency Status By Groups
Group 30 Days 60 Days 90 + Days Foreclosure REO Bankruptcy
1 Principal Balance 4,933,142.33 1,363,785.30 117,500.19 3,131,161.21 39,135.47 1,051,018.19
Percentage Of Balance 5.203% 1.438% 0.124% 3.302% 0.041% 1.108%
Loan Count 84 24 2 46 1 17
Percentage Of Loans 5.714% 1.633% 0.136% 3.129% 0.068% 1.156%
2 Principal Balance 1,916,654.83 365,036.75 0.00 1,375,924.57 144,446.18 181,428.58
Percentage Of Balance 4.647% 0.885% 0.000% 3.336% 0.350% 0.440%
Loan Count 30 7 0 22 1 4
Percentage Of Loans 5.607% 1.308% 0.000% 4.112% 0.187% 0.748%
Totals:Principal Balance 6,849,797.16 1,728,822.05 117,500.19 4,507,085.78 183,581.65 1,232,446.77
Percentage of Balance 5.034% 1.271% 0.086% 3.313% 0.135% 0.906%
Loan Count 114 31 2 68 2 21
Percentage Of Loans 5.686% 1.546% 0.100% 3.392% 0.100% 1.047%