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: December 24, 1999 ADVANTA Mortgage Loan Trust 1999-1 New York 333-52351-05 Pending c/o ADVANTA Mortgage Corp., USA Attn: H. John Berens 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 November 1999 Monthly Period of the Trust in respect of the Mortgage Loan Asset-Backed Certificates, Series 1999-1 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 March 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 November 1999 Monthly period relating to the Mortgage Loan Asset- Backed Certificates Series 1999-1, Class A issued by the ADVANTA Mortgage Loan Trust 1999-1. EXHIBIT INDEX Exhibit 1. Monthly Report for the November 1999 Monthly Period relating to the Mortgage Loan Asset-Backed Certificates, Series 1999-1, Class A issued by the ADVANTA Mortgage Loan Trust 1999-1. 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 1999-1 BY: ADVANTA Mortgage Corp., USA BY: /s/ H. John Berens H. John Berens Senior Vice President Advanta Mortgage December 31, 1999 EXHIBIT 1 ADVANTA Mortgage Loan Trust 1999-1 Statement to Certificateholders Distribution in Dollars - Current Period Prior Original Principal Total Realized Class Face Value Balance Interest Principal Distribution Losses A-1 125,00 76 8,2 8 A-2 82, 82 A-3 44, 44 A-4 83, 83 A-5 26, 26 A-6 40, 40 A-7 400,00 338, 1 11,26 12,9 B BS R Totals 800,00 690, 3 19,47 22,9 Current Deferred Principal Class Interest Balance A-1 68,572,954.90 A-2 82,000,000.00 A-3 44,000,000.00 A-4 83,000,000.00 A-5 26,000,000.00 A-6 40,000,000.00 A-7 327,059,383.42 B - BS - R - Totals 670,632,338.32 Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face Orig. Principal Prior Period Period (with Notional) Principal Class Starting Ending Method Cusip Balance Balance A-1 F-30/360 00755WGF7 125,00 6 A-2 F-30/360 00755WGG5 82,0 1,00 A-3 F-30/360 00755WGH3 44,0 1,00 A-4 F-30/360 00755WGJ9 83,0 1,00 A-5 A-30/360 00755WGK6 26,0 1,00 A-6 F-30/360 00755WGL4 40,0 1,00 A-7 11/26/99 12/26/99 A-Act/360 00755WGM2 400,00 8 B BS R Current Total Principal Class Interest Principal Distribution Balance A-1 548.583639 A-2 1,000.000000 A-3 1,000.000000 A-4 1,000.000000 A-5 1,000.000000 A-6 1,000.000000 A-7 817.648459 B - BS - R - Distribution in Dollars - To Date Original Unscheduled Scheduled Total Total Class Face Value Interest Principal Principal Principal Distribution A-1 125,00 50,9 5,4 56,4 61,07 A-2 82, 3,6 A-3 44, 2,0 A-4 83, 3,9 A-5 26, 1,3 A-6 40, 1,8 A-7 400,00 16 70,3 2,6 72,9 89,51 B BS R Totals 800,00 34 121,31 8,0 129,36 164,320, Current Realized Deferred Principal Class Losses Interest Balance A-1 68,572,954.90 A-2 82,000,000.00 A-3 44,000,000.00 A-4 83,000,000.00 A-5 26,000,000.00 A-6 40,000,000.00 A-7 327,059,383.42 B - BS - R - Totals 670,632,338.32 Interest Detail Pass Prior Principal Non- Prior Unscheduled Through (with Notional) Accrued Supported Unpaid Interest Class Rate Balance Interest Interest SF Interest Adjustments A-1 5.99000% 76 A-2 5.98000% 82 A-3 6.10000% 44 A-4 6.30000% 83 A-5 6.73000% 26 A-6 6.33000% 40 A-7 5.86000% 338, 1 B BS R Totals 690, 3 Paid or Current Optimal Deferred Unpaid Class Interest Interest Interest A-1 - A-2 - A-3 - A-4 - A-5 - A-6 - A-7 1 - B - BS - R - Totals 3 - Collection Account Report Summary Adjustable Fixed Total Principal Collections 10,29 7 17,44 Principal Withdrawals Principal Other Accounts TOTAL PRINCIPAL 10,29 7 17,44 Interest Collected 2,8 3 5,8 Interest Withdrawals Interest Other Accounts 4801.43 Fees ( ( TOTAL INTEREST 2,6 2 5,5 TOTAL AVAILABLE TO CERTIFICATEHOLDERS 12,97 10,0 22,99 Principal - Collections Adjustable Fixed Total Scheduled Principal Curtailments Prepayments in Full 10,06 6 16,58 Repurchased Principal Amounts Substitution Principal Amount Liquidations Insurance Principal Other Principal Total Realized Loss of Principal TOTAL PRINCIPAL COLLECTED 10,29 7 17,44 Collection Account Report Principal - Withdrawals Adjustable Fixed Total SPACE INTENTIONALLY LEFT BLANK Principal - Other Accounts Adjustable Fixed Total Amounts Remaining in Pre-Funding Account Interest - Collections Adjustable Fixed Total Scheduled Interest 2,8 3 5,9 Repurchased Interest Substitution Interest Amount Liquidation Interest Insurance Interest Other Interest Delinquent Interest ( (1,73 Interest Advanced 1,6 Prepayment Interest Shortfalls Compensating Interest Civil Relief Act Shortfalls TOTAL INTEREST COLLECTED 2,8 3 5,8 Collection Account Report Interest - Withdrawals Adjustable Fixed Total Current Nonrecoverable Advances TOTAL INTEREST WITHDRAWALS Interest - Other Accounts Adjustable Fixed Total Capitalized Interest Requirement Pre-Funding Account Earnings Certificate Account Earnings Capitalized Interest Account Interest - Fees Adjustable Fixed Total Current Servicing Fees Trustee Fee Amount Insurance Premium Amount TOTAL FEES Credit Enhancement Report Accounts Adjustable Fixed Total SPACE INTENTIONALLY LEFT BLANK Insurance Adjustable Fixed Total Total Insured Payments Structural Features Adjustable Fixed Total Specified Overcollateralization Amount 25,800,000.00 14,000,000.00 39,800,000.00 Current Overcollateralization Amount 9,547,522.02 10,109,654.86 19,657,176.88 Overcollateralization Deficiency Amount 17,218,889.45 4,960,993.48 22,179,882.93 Overcollateralization Deficit Amount Overcollateralization Increase Amount 966,411.47 1,070,648.34 2,037,059.81 Overcollateralization Reduction Amount Components of Change in Overcollateralization* Excess Interest Generated by Pool 960,203.87 1,065,846.91 2,026,050.78 Certificate Account Interest Earnings 6,207.60 4,801.43 11,009.03 Additional Principal TOTAL 1,070,648.34 2,037,059.81 *(NOTE: If at specified amount, components will not equal increase amount) Collateral Report Collateral Adjustable Fixed Total Loan Count: Original 3,794 5,598 9,392 Prior 3,785 5,775 9,560 Prefunding Scheduled Paid Offs Full Voluntary Prepayments (87) (113) (200) Repurchases Liquidations Current 3,696 5,662 9,358 Principal Balance Original 358,638,192.19 354,898,989.56 713,537,181.75 Prior 346,905,423.82 360,825,470.79 707,730,894.61 Prefunding Scheduled Principal (189,897.93) (619,778.32) (809,676.25) Partial and Full Voluntary Prepayments (10,064 (6, (16,587 Repurchases Liquidations Current 336,606, 353,68 690,289, Prefunding Adjustable Fixed Total PRE-FUNDING ACCOUNT Original Pre-Funded Amount 41,361,807.81 45,101,010.44 86,462,818.25 Balance of Subsequent Mortgage Loans Added This Period Pre-Funding Account Earnings Withdrawal Account Earnings Pre-Funding Account Ending Balance CAPITALIZED INTEREST ACCOUNT Original Capitalized Interest Deposit 431,226.00 473,750.00 904,976.00 Capitalized Interest Requirement Capitalized Interest Account Earnings Capitalized Interest Account Ending Balance Collateral Report Characteristics Adjustable Fixed Total Weighted Average Coupon Original 9.990174% 10.330135% 10.159264% Weighted Average Coupon Prior 9.876530% 10.215068% 10.048833% Weighted Average Coupon Current 9.866799% 10.200089% 10.036722% Weighted Average Months to Maturity Original 351 252 302 Weighted Average Months to Maturity Prior 343 248 295 Weighted Average Months to Maturity Current 342 247 293 Weighted Average Remaining Amortization Term Original 351 298 325 Weighted Average Remaining Amortization Term Prior 344 288 315 Weighted Average Remaining Amortization Term Current 343 287 314 Weighted Average Seasoning Original 3.99 3.76 3.87 Weighted Average Seasoning Prior 10.53 10.34 10.43 Weighted Average Seasoning Current 11.50 11.33 11.41 Note: Original information refers to deal issue Collateral Report Arm Characteristics Adjustable Fixed Total Weighted Average Margin Original 6.149% Weighted Average Margin Prior 6.000% Weighted Average Margin Current 6.000% Weighted Average Max Rate Original 16.848% 10.330% Weighted Average Max Rate Prior 17.000% 10.000% Weighted Average Max Rate Current 17.000% 10.000% Weighted Average Min Rate Original 9.093% 9.830% Weighted Average Min Rate Prior 9.000% 10.000% Weighted Average Min Rate Current 9.000% 10.000% Weighted Average Cap Up Original 1.103% Weighted Average Cap Up Prior 1.000% Weighted Average Cap Up Current 1.000% Weighted Average Cap Down Original 1.103% Weighted Average Cap Down Prior 1.000% Weighted Average Cap Down Current 1.000% Note: Original information refers to deal issue Servicing Fees / Advances Adjustable Fixed Total Current Servicing Fees Delinquent Servicing Fees TOTAL SERVICING FEES Total Servicing Fees Compensating Interest Delinquent Servicing Fees COLLECTED SERVING FEES Prepayment Interest Shortfall Total Advanced Interest 1,6 Current Nonrecoverable Advances 279.41 289.28 Unreimbursed Delq / Servicing Advances Paid to Servicer Additional Collateral Information Adjustable Fixed Total Weighted Average Coupon Next 9.866038% 10.188772% 10.031397% Delinquency Report - Total Current 1 Payment 2 Payments 3+ Payments Total DELINQUENT Balance 18,6 5,0 2 25,91 % Balance 2.71% 0.73% 0.32% 3.76% # Loans % # Loans 3.20% 0.79% 0.52% 4.51% FORECLOSURE Balance 1,0 20,5 22,34 % Balance 0.08% 0.03% 0.16% 2.97% 3.24% # Loans % # Loans 0.07% 0.03% 0.13% 3.11% 3.34% BANKRUPTCY Balance 7 10,67 % Balance 0.36% 0.09% 0.07% 1.02% 1.54% # Loans % # Loans 0.35% 0.11% 0.07% 1.14% 1.67% REO Balance 1 1,7 % Balance 0.00% 0.00% 0.00% 0.25% 0.25% # Loans % # Loans 0.00% 0.00% 0.00% 0.28% 0.28% TOTAL Balance 19,5 6,6 31,4 60,67 % Balance 0.44% 2.83% 0.96% 4.56% 8.79% # Loans % # Loans 0.42% 3.34% 0.99% 5.05% 9.80% Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+ Delinquency Report - Fixed Group Current 1 Payment 2 Payments 3+ Payments Total DELINQUENT Balance 8 1,9 1 11,82 % Balance 2.40% 0.54% 0.40% 3.34% # Loans % # Loans 2.81% 0.65% 0.62% 4.08% FORECLOSURE Balance 8 8,8 % Balance 0.06% 0.02% 0.04% 2.38% 2.50% # Loans % # Loans 0.05% 0.02% 0.05% 2.51% 2.63% BANKRUPTCY Balance 3 5,1 % Balance 0.44% 0.07% 0.05% 0.90% 1.46% # Loans % # Loans 0.37% 0.07% 0.07% 0.95% 1.46% REO Balance % Balance 0.00% 0.00% 0.00% 0.26% 0.26% # Loans % # Loans 0.00% 0.00% 0.00% 0.25% 0.25% TOTAL Balance 8 2,2 13,9 26,76 % Balance 0.50% 2.49% 0.63% 3.94% 7.56% # Loans % # Loans 0.42% 2.90% 0.77% 4.33% 8.42% Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+ Delinquency Report - Adjustable Group Current 1 Payment 2 Payments 3+ Payments Total DELINQUENT Balance 10,1 3,1 14,08 % Balance 3.03% 0.93% 0.23% 4.19% # Loans % # Loans 3.79% 1.00% 0.38% 5.17% FORECLOSURE Balance 12,0 13,49 % Balance 0.10% 0.04% 0.28% 3.59% 4.01% # Loans % # Loans 0.11% 0.05% 0.24% 4.03% 4.43% BANKRUPTCY Balance 3 5,5 % Balance 0.27% 0.12% 0.10% 1.15% 1.64% # Loans % # Loans 0.32% 0.16% 0.08% 1.43% 1.99% REO Balance % Balance 0.00% 0.00% 0.00% 0.24% 0.24% # Loans % # Loans 0.00% 0.00% 0.00% 0.32% 0.32% TOTAL Balance 10,7 4,4 17,5 33,91 % Balance 0.37% 3.19% 1.31% 5.21% 10.08% # Loans % # Loans 0.43% 4.00% 1.32% 6.16% 11.91% Note: Current=0-29 days, 1 payment=30-59 days, 2 payments=60-89 days, 3+payments=90+ Prepayment Report - Voluntary Prepayments Voluntary Prepayments Adjustable Fixed Total Current Number of Paid in Full Loans 87 113 200 Number of Repurchased Loans Total Number of Loans Prepaid in Full 87 113 200 Paid in Full Balance 10,06 6 16,58 Repurchase Loans Balance Curtailments Amount Total Prepayment Amount 10,06 6 16,58 Cumulative Number of Paid in Full Loans 580 717 1297 Number of Repurchased Loans 1 3 4 Total Number of Loans Prepaid in Full 581 720 1301 Paid in Full Balance 60,37 40,7 101,114, Repurchased Loans Balance Curtailments Amount Total Prepayment Amount 60,35 40,8 101,222, SPACE INTENTIONALLY LEFT BLANK Prepayment Report - Voluntary Prepayments Voluntary Prepayment Rates Adjustable Fixed Total SMM 2.90% 1.81% 2.35% 3 Months Average SMM 2.47% 1.56% 2.01% 12 Months Average SMM Average SMM Since Cut-Off 1.82% 1.21% 1.51% CPR 29.78% 19.69% 24.79% 3 Months Average CPR 25.88% 17.20% 21.58% 12 Months Average CPR Average CPR Since Cut-Off 19.77% 13.57% 16.69% PSA 1294.66% 869.03% 1086.20% 3 Months Average PSA Approximation 1229.79% 831.61% 1034.64% 12 Months Average PSA Approximation Average PSA Since Cut-Off Approximation 1298.05% 916.95% 1111.90% Realized Loss Report - Collateral Collateral Realized Losses Adjustable Fixed Total Current Number of Loan Liquidated Collateral Realized Loss / (Gain) Amount Net Liquidation Proceeds Cumulative Number of Loans Liquidated Collateral Realized Loss / (Gain) Amount Net Liquidation Proceeds Note: Collateral realized losses may include adjustments to loans liquidated in prior periods. SPACE INTENTIONALLY LEFT BLANK Realized Loss Report - Collateral Default Speeds Adjustable Fixed Total MDR 0.01% 0.00% 0.01% 3 Months Average MDR 0.03% 0.00% 0.02% 12 Months Average MDR Average MDR Since Cut-Off 0.01% 0.00% 0.01% CDR 0.15% 0.00% 0.07% 3 Months Average CDR 0.39% 0.00% 0.19% 12 Months Average CDR Average CDR Since Cut-Off 0.15% 0.00% 0.07% SDA 0.66% 0.00% 0.33% 3 Months Average SDA Approximation 1.83% 0.00% 0.91% 12 Months Average SDA Approximation Average SDA Since Cut-Off Approximation 0.98% 0.00% 0.49% Loss Severity Approximation for Current Period 2.36% 2.36% 3 Months Average Loss Severity Approximation 0.79% 0.79% 12 Months Average Loss Severity Approximation Average Loss Severity Approximation Since Cut-Off 0.59% 0.59% Triggers, Adj. Rate Cert. And Miscellaneous Report Trigger Events Adjustable Fixed Total Has Servicer Termination Loss Trigger Occurred? No Adjustable Rate Certificate Information Adjustable Fixed Total Next Pass-Through Rates for Adjustable Rate Certificates Class A-5 6.730000% Class A-7 6.751250% Additional Information Adjustable Fixed Total CLASS A-7 SUPPLEMENTAL INTEREST ACCOUNT Class A-7 Supplemental Interest Amount Class A-7 Supplemental Interest Shortfall Carry-Forward Amount Class A-7 Supplemental Interest Shortfall Amount Deposit to C1 A-7 Supp Int Acct (Class B Distribution) Payment to Supplemental interest Right Class A-7 Supplemental Interest Account Ending Balance