Annual Statement of Compliance


June 15, 2004

Subject: C-BASS Mortgage Loan Asset Backed Certificates,
Series 1999-CB5

To Whom It May Concern:

The undersigned Officer of Litton Loan Servicing LP provides the
Annual Statement as to Compliance as required by the Pooling and
Servicing Agreement for the above referenced security and certifies
that (i) a review of the activities of the Servicer during such
preceding fiscal year (or such shorter period in the case of the
first such report) and of performance under this Agreement has been
made under my supervision, and (ii) to the best of my knowledge,
based on such review, the Servicer has fulfilled all its obligations
under this Agreement for 1999.



Litton Loan Servicing LP

/s/ Janice McClure
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Janice McClure
Senior Vice President
June 15, 2004


/s/ Kathryn D. Nelson
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Kathryn D. Nelson
Assistant Secretary
June 15, 2004