EX-10.1 2 f66092ex10-1.txt EXHIBIT 10.1 1 EXHIBIT 10.1 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2 Certificateholder Distribution Summary

All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. Page 1 2 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2 Principal Distribution Statement

(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. Page 2 3 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2 Principal Distribution Factors Statement

All Denominations are Per 1000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. Page 3 4 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2 Interest Distribution Statement

(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. Page 4 5 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2 Interest Distribution Factors Statement

All Denominations are Per 1000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. Page 5 6 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2 Certificateholder Component Statement

Page 6 7 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2 Certificateholder Account Statement CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 8,943,019.13 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (104,737.74) ------------ Total Deposits 8,838,281.39 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 294,572.75 Payment of Interest and Principal 8,543,708.64 ------------ Total Withdrawals (Pool Distribution Amount) 8,838,281.39 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 142,118.19 Management Fee 1,000.00 FSA Group 1 Premium 48,439.05 FSA Group 2 Premium 8,016.63 PMI Group 1 Fee 83,733.22 PMI Group 2 Fee 11,265.66 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 294,572.75 ==========

OTHER ACCOUNTS

Page 7 8 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2 Loan Status Stratification/Credit Enhancement Statement

Current Period Realized Loss - Includes Interest Shortfall 0.00 Principal Balance of Contaminated Properties 0.00 Cumulative Realized Losses - Includes Interest Shortfall 230,413.47 Periodic Advance 0.00 Current Period Class A Insufficient Funds 0.00

Page 8 9 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2 Delinquency Status By Group

Page 9 10 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2

Limit of Subordinate's Exposure to Certain Types of Losses Page 10 11 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2 COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 9.474475% Weighted Average Net Coupon 8.978840% Weighted Average Pass-Through Rate 8.442475% Weighted Average Maturity (Stepdown Calculation) 334 Beginning Scheduled Collateral Loan Count 3,291 Number of Loans Paid in Full 66 Ending Scheduled Collateral Loan Count 3,225 Beginning Scheduled Collateral Balance 341,083,576.29 Ending Scheduled Collateral Balance 334,833,546.94 Ending Actual Collateral Balance at 31-Aug-2000 335,109,112.99 Monthly P&I Constant 2,918,300.21 Ending Scheduled Balance for Premium Loans 334,833,546.94

Page 11 12 American Residential Eagle Certificate Trust Contact: Customer Service - CTSLink Mortgage Pass-Through Certificates Wells Fargo Bank Minnesota, N.A. Record Date: 31-Aug-2000 Securities Administration Services Distribution Date: 25-Sep-2000 7485 New Horizon Way Frederick, MD 21703 25-Sep-2000 12:25:47PM Telephone: (301) 815-6600 Fax: (301) 846-8152

ARE SERIES 1999-2

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AMERICAN RESIDENTIAL EAGLE BOND TRUST 1999-2 COLLATERALIZED 8-K