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: June 25, 1999 ADVANTA Mortgage Loan Trust 1999-2 New York 333-77927 Pending c/o ADVANTA Mortgage Corp., USA Attn: William P. Garland 10790 Rancho Bernardo Road San Diego, CA 92127 (858) 676-3099 Item 5. Other Events Information relating to the distributions to Certificate holders for the May, 1999 Monthly Period of the Trust in respect of the Mortgage Loan Asset-Backed Certificates, Series 1999-2 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 May 1, 1999 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 May, 1999 Monthly period relating to the Mortgage Loan Asset- Backed Certificates Series 1999-2, Class A issued by the ADVANTA Mortgage Loan Trust 1999-2. EXHIBIT INDEX Exhibit 1. Monthly Report for the May, 1999 Monthly Period relating to the Mortgage Loan Asset-Backed Certificates, Series 1999-2, Class A issued by the ADVANTA Mortgage Loan Trust 1999-2. 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 1999-2 BY: ADVANTA Mortgage Corp., USA BY: /s/ William P. Garland William P. Garland Senior Vice President Loan Service Administration June 30, 1999 EXHIBIT 1 ADVANTA Mortgage Loan Trust 1999-2 Statement to Certificateholders Original Prior Face Principal Class Value Balance Interest Principal Total A-1 114,000,000 114,000,000. 351,2 2,341,541 2,692,835.92 A-2 90,000,00 90,000,000 474,0 474,000.00 A-3 40,000,00 40,000,000 214,6 214,666.67 A-4 95,000,00 95,000,000 545,4 545,458.33 A-5 31,700,00 31,700,000 188,8 188,879.17 A-6 41,000,00 41,000,000 233,0 233,016.67 A-7 105,800,000 105,800,000. 333,7 926,23 1,260,017.04 B - BS - R 192,5 192,583.70 Totals 517,500,000 517,500,000. 2,533,68 3,267,774 5,801,457.50 Current Pass-Through Realized Deferred Principal Rates Class Losses Interest Balance Current Next A-1 111,658,458. 5.042500% 5.192500% A-2 90,000,000 6.320000% 5.980000% A-3 40,000,000 6.440000% 6.100000% A-4 95,000,000 6.890000% 6.300000% A-5 31,700,000 7.150000% 7.150000% A-6 41,000,000 6.820000% 6.820000% A-7 104,873,767. 5.162500% 5.312500% B 0.000000% 0.000000% BS 0.000000% 0.000000% R 0.000000% 0.000000% Totals 514,232,225.52 Prior Current Principal Principal Class CUSIP Balance Interest Principal Total Balance A-1 00755WGN0 1,000.000000 3.081528 20.539840 23.621368 979.460160 A-2 00755WGP5 1,000.000000 5.266667 0.000000 5.266667 1,000.000000 A-3 00755WGQ3 1,000.000000 5.366667 0.000000 5.366667 1,000.000000 A-4 00755WGR1 1,000.000000 5.741667 0.000000 5.741667 1,000.000000 A-5 00755WGS9 1,000.000000 5.958333 0.000000 5.958333 1,000.000000 A-6 00755WGT7 1,000.000000 5.683333 0.000000 5.683333 1,000.000000 A-7 00755WGU4 1,000.000000 3.154861 8.754563 11.909424 991.245437 B 0.000000 0.000000 0.000000 0.000000 0.000000 BS 0.000000 0.000000 0.000000 0.000000 0.000000 R 0.000000 0.372142 0.000000 0.372142 0.000000 Delinquent Loan Information: 90+ Days Loans Loans 30-59 60-89 excldg f/c,REO in in Days Days & Bkrptcy Bankruptcy REO Group I Principal Balan 3,417,63 675,9 219,41 73,3 % of Pool Balan 0.92131% 0.18223% 0.05915% 0.01977% 0.00000% Number of Loans 54 11 5 2 0 % of Loans 1.03906% 0.21166% 0.09621% 0.03848% 0.00000% Group 2 Principal Balan 1,206,94 32,9 % of Pool Balan 1.14582% 0.00000% 0.00000% 0.03132% 0.00000% Number of Loans 16 0 0 1 0 % of Loans 1.37104% 0.00000% 0.00000% 0.08569% 0.00000% Loans in Foreclosure Group I Principal Balan - % of Pool Balan 0.00000% Number of Loans 0 % of Loans 0.00000% Group 2 Principal Balan 94,297.47 % of Pool Balan 0.08952% Number of Loans 2 % of Loans 0.17138% General Mortgage Loan Information: Group 1 Group II Total Beginning Aggregate Mortgage Loan Balance 372,463,932. 105,822,287. 478,286,220. Subsequent Mortgage Loans Added This Period 0.00 0.00 0.00 Principal Reduction 1,574,711 488,0 2,062,767 Ending Aggregate Mortgage Loan Balance 370,952,906. 105,334,230. 476,287,137. Beginning Aggregate Mortgage Loan Count 5216 1172 6388 Ending Aggregate Mortgage Loan Count 5197 1167 6364 Current Weighted Average Coupon Rate 9.655530% 9.671422% 9.659046% Next Weighted Average Coupon Rate 9.654410% 9.668610% 9.657551% Mortgage Loan Principal Reduction Information: Group 1 Group II Total Scheduled Principal 407,15 57,4 464,62 Curtailments (1,3 (1,4 Prepayments 1,105,175 430,6 1,535,863 Repurchases/Substitutions 0.00 0.00 Liquidation Proceeds 0.00 0.00 0.00 Other Principal 0.00 0.00 0.00 Amounts Remaining in Pre-Funding Account at end of pre-funding p 63,685.26 0.00 63,685.26 Less: Realized Losses 0.00 0.00 0.00 Total Principal Reduction 1,574,711.75 488,056.18 2,062,767 Servicer Information: Group I Group II Total Accrued Servicing Fee for the Current Period 232,78 66,1 298,92 Less: Amounts to Cover Interest Shortfalls 0.00 Less: Delinquent Service Fees 21,8 6, 28,0 Collected Servicing Fees for Current Period: 210,88 60,0 270,90 Advanced Principal N/A N/A 0.00 Advanced Interest 283,97 78,1 362,16 Other Interest Prepayment Unscheduled Carry Principal Principal Forward Class Distributed Distributed Amount A-1 1,105,1 (1,303.13) - A-2 - - A-3 - - A-4 - - A-5 - - A-6 - - A-7 430,6 (107.42) - Total 1,535,8 (1,410.55) - Over- Has a Specified Over- Collateral. Over Trigger Event Collateral. Increase Collateral. Occurred Amount Amount Amount Group I NO 6,175,50 766,83 766,830.00 Group II NO 5,555,67 438,17 460,463.59 Total 11,731,170 1,205,006 1,227,293.59 Overcollateralization Amounts do not include Pre-Funding Amounts MISCELLANEOUS INFORMATION: Group I Group II Total Insured Payment 0.00 0.00 0.00 Realized Losses 0.00 0.00 0.00 60+ Day Delinquent Loans (Excluding F/C, REO & Bankruptcy) 895,397.09 0.00 895,397.09 Book Value of REO Loans 0.00 0.00 0.00 Pool Cumulative Realized Losses - Avg of 12 Preceeding Remittance Period 0.00% Pool Cumulative Realized Losses - % of Mortgage Loans as of Cut-Off Date 0.00% Class A-7 Supplemental Interest Amount 0.00 TOTAL AVAILABLE FUNDS: Current Interest Collected: 3,459,658.61 Principal Collected: 1,999,082.67 Insurance Proceeds Received: - Net Liquidation Proceeds: - Delinquency Advances on Mortgage Interest: 362,164.71 Delinquency Advances on Mortgage Principal N/A Substitution Amounts: - Trust Termination Proceeds: - Investment Earnings on Certificate Account: - Capitalized Interest Requirement - Capitalized Interest Fund Earnings - Capitalized Interest Account 192,583.70 Investment Earnings on Pre-funding Account 60,539.61 Pre-Funding Account 63,685.26 Sum of the Above Amounts: 6,137,714.56 LESS: Servicing Fees (including PPIS): 270,928.26 Dealer Reserve: - Trustee Fees: 3,587.15 Insurance Premiums: 61,741.66 Reimbursement of Delinquency Advances: - Reimbursements of Servicing Advances: - Total Reductions to Available Funds Amount: 336,257.07 Total Available Funds: 5,801,457