Exhibit 99.2

First Alliance Mortgage Loan Trust
                 Mortgage Loan Asset Backed Notes Series 1999-4
                             1999 - Annual Statement
                              DISTRIBUTION DOLLARS

                                                                     ENDING
 PERIOD      CLASS              INTEREST          PRINCIPAL          BALANCE
 ------     --------         ---------------   ---------------   ---------------
 199912       A-1                 N/A                N/A         $28,000,000.00


                                                                     ENDING
 PERIOD      CLASS              INTEREST          PRINCIPAL          BALANCE
 ------     --------         ---------------   ---------------   ---------------
 199912       A-2                 N/A                N/A         $75,075,000.00

Total Class R Certificates: $0.00

Factor Information Per $1,000

             PRINCIPAL      INTEREST     ENDING NOTE   INIT NOTE     CURR NOTE
  CLASS     DISTRIBUTION  DISTRIBUTION     BALANCE        RATE          RATE
--------    ------------  ------------  ------------  ------------  ------------
   A-1          N/A           N/A            N/A          N/A           N/A

   A-2          N/A           N/A            N/A          N/A           N/A


                                                                  Per $1,000
NOTE DISTRIBUTION:                             $0.00                0.00

SCHEDULED PRINCIPAL:                           $0.00
PREPAYMENTS & PREFUNDING ACT. REMAINDER:       $0.00
SUBORDINATION INCREASE:                        $0.00
                                        -------------------

TOTAL PRINCIPAL DISTRIBUTION:                  $0.00                0.00

TOTAL INTEREST DISTRIBUTION:                   $0.00


LOAN PURCHASE PRICES
   A-1 RATE NOTE:                              $0.00
   A-2 RATE NOTE:                              $0.00


SUBORDINATION REDUCTION AMOUNT
   A-1 RATE NOTE:                              $0.00
   A-2 RATE NOTE:                              $0.00

CURRENT REALIZED LOSSES
   A-1 RATE NOTE:                              $0.00
   A-2 RATE NOTE:                              $0.00

CUMULATIVE REALIZED LOSSES
   A-1 RATE NOTE:                              $0.00
   A-2 RATE NOTE:                              $0.00

<PAGE>

DELINQUENT MORTGAGE LOANS(includes loans in foreclosure and bankruptcy):

      A-1 RATE NOTE
      -------------
                                   AGGREGATE
            CATEGORY     NUMBER   LOAN BALANCE   PERCENTAGE
           30-59 DAYS       0            $0.00       0.00%
           60-89 DAYS       0            $0.00       0.00%
            90+ DAYS        0            $0.00       0.00%

      A-2 RATE NOTE
      -------------
                                   AGGREGATE
            CATEGORY     NUMBER   LOAN BALANCE   PERCENTAGE
           30-59 DAYS       0            $0.00       0.00%
           60-89 DAYS       0            $0.00       0.00%
            90+ DAYS        0            $0.00       0.00%


LOANS IN FORECLOSURE(included in delinquencies above):

      A-1 RATE NOTE
      -------------
                                   AGGREGATE
                         NUMBER   LOAN BALANCE   PERCENTAGE
                            0            $0.00       0.00%

      A-2 RATE NOTE
      -------------
                                   AGGREGATE
                         NUMBER   LOAN BALANCE   PERCENTAGE
                            0            $0.00       0.00%


LOANS IN BANKRUPTCY(included in delinquencies above):

      A-1 RATE NOTE
      -------------
                                   AGGREGATE
                         NUMBER   LOAN BALANCE   PERCENTAGE
                            0            $0.00       0.00%

      A-2 RATE NOTE
      -------------
                                   AGGREGATE
                         NUMBER   LOAN BALANCE   PERCENTAGE
                            0            $0.00       0.00%

REO PROPERTIES(included in delinquencies above):

      A-1 RATE NOTE
      -------------
                                   AGGREGATE
                         NUMBER   LOAN BALANCE   PERCENTAGE
                            0            $0.00       0.00%

      A-2 RATE NOTE
      -------------
                                   AGGREGATE
                         NUMBER   LOAN BALANCE   PERCENTAGE
                            0            $0.00       0.00%

ENDING AGGREGATE LOAN BALANCE
   A-1 RATE NOTE:                      $0.00
   A-2 RATE NOTE:                      $0.00

BOOK VALUE OF REO PROPERTY:
   A-1 RATE NOTE:                      $0.00
   A-2 RATE NOTE:                      $0.00