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 (Date of earliest event reported) April 25,
1996
Equicon Mortgage Loan Trust 1995-2
(Exact name of registrant as specified in its charter)
New York 33-96500
Applied For
(State or other jurisdiction (Commission
(IRS Employer
of incorporation or File Number)
Identification
organization) Number)
c/o Norwest Bank Minnesota
National Association
Sixth Street & Marquette Avenue
Minneapolis, Minnesota 55479-0069
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number including area code (612)
984-0979
Equicon Mortgage Loan Trust 1995-2
Form 8-K
INDEX
Page Number
Item 5. Other Events 3
Item 7. Financial Statements and Exhibits
3
SIGNATURES 4
INDEX OF EXHIBITS 5
ITEM 5. OTHER EVENTS
The Equicon Mortgage Loan Trust 1995-2 makes monthly
remittances to security holders. The latest remittance was
made April 25, 1996. We have furnished a monthly remittance
statement delivered to the trustee with security holder
payment instructions.
Monthly Remittance
Statement.....................................................
....Exhibit 21.1
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
21.1 Monthly Remittance Statement dated as of April 25,
1996.
SIGNATURES
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.
Equicon Mortgage Loan Trust 1995-2
(Registrant)
By: Norwest Bank of Minnesota, N.A.
Name: Kris Solie-Johnson
Title: Corporate Trust Officer
INDEX OF EXHIBITS
Page of Sequentially
Numbered Pages
21.1 Monthly Remittance Statement dated 6-13
as of April 25, 1996.
Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services Reporting
Month: March 1996 Phone:
(410) 884-2117
11000 Broken Land Parkway
Distribution Date: April 18, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Cover Page - Issuing
Report Name
Report Number
______________________________________________________________
________________
Series Structure Summary
1
Class Distribution Summary
2
Class Distribution Per 1,000 of
Original Balance 3
Class Principal Distribution
4
Class Interest Distribution
5
Fund Account Summary
6
Loss/Delinquency Detail
7
Collateral Summary
8
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: March 1996
Phone: (410) 884-2117
11000 Broken Land Parkway
Distribution Date: April 18, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Series Structure Summary - Issuing
Aggregate Realized Aggregate
Ending
Class
Original Principal Losses Principal
Aggregate Interest Undistributed Principal
Class Description Principal Type Interest Type
Balance Pass Through Rate Balance Reduction
Shortfall Principal Factor
______________________________________________________________
______________________________________________________________
___________________________________________
A-1 Senior Sequential Pay Fixed
35,000,000.00 6.45000000% 0.00
0.00 0.00 0.8784423443
A-2 Senior Sequential Pay Fixed
21,000,000.00 6.50000000% 0.00
0.00 0.00 1.0000000000
A-3 Senior Sequential Pay Fixed
10,000,000.00 6.75000000% 0.00
0.00 0.00 1.0000000000
A-4 Senior Sequential Pay Fixed
8,000,000.00 7.10000000% 0.00
0.00 0.00 1.0000000000
A-5 Senior Sequential Pay Fixed
5,287,000.00 7.40000000% 0.00
0.00 0.00 1.0000000000
A-6 Senior Sequential Pay Variable
39,667,000.00 5.96750000% 0.00
0.00 0.00 0.9247043651
B Fixed Subordinate Sequential Pay Variable
567.57 615.33878994% 0.00 0.00
0.00 880.9486054584
B Vari Subordinate Sequential Pay Variable
142.78 357.38437429% 0.00 0.00
0.00
RU Residual Residual Residual
0.00 0.00000000% 0.00 0.00
0.00 0.0000000000
______________________________________________________________
______________________________________________________________
___________________________________________
Totals
118,954,710.35 0.00
0.00 0.00 0.9475264138
Report 1
04/16/96 -- 3:16pm
Page 1 of 1
Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services Reporting
Month: March 1996 Phone:
(410) 884-2117
11000 Broken Land Parkway
Distribution Date: April 18, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Class
Distribution Summary - Issuing
Beginning
Principal Ending
Pass Through Principal
Total Interest Total Principal Balance
Principal Total
Class Record Date Rate Balance
Distribution Distribution Reduction
Balance Distribution
______________________________________________________________
______________________________________________________________
________________________________
A-1 03/29/1996 6.45000000% 32,241,201.40
173,296.46 1,495,719.35 0.00
30,745,482.05 1,669,015.81
A-2 03/29/1996 6.50000000% 21,000,000.00
113,750.00 0.00 0.00
21,000,000.00 113,750.00
A-3 03/29/1996 6.75000000% 10,000,000.00
56,250.00 0.00 0.00
10,000,000.00 56,250.00
A-4 03/29/1996 7.10000000% 8,000,000.00
47,333.33 0.00 0.00
8,000,000.00 47,333.33
A-5 03/29/1996 7.40000000% 5,287,000.00
32,603.17 0.00 0.00
5,287,000.00 32,603.17
A-6 03/29/1996 5.96750000% 37,418,787.91
186,080.51 738,539.86 0.00
36,680,248.05 924,620.37
B Fixed 03/29/1996 615.33878994% 500,000.00
256,391.16 0.00 0.00
500,000.00 256,391.16
B Vari 03/29/1996 357.38437429% 500,000.00
148,910.16 0.00 0.00
500,000.00 148,910.16
RU 03/29/1996 0.00000000% 0.00
0.00 0.00 0.00 0.00
0.00
______________________________________________________________
______________________________________________________________
________________________________
Totals 114,946,989.31
1,014,614.79 2,234,259.21 0.00
112,712,730.10 3,248,874.00
Report 2
04/16/96 -- 3:16pm
Page 1 of 1
Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services Reporting
Month: March 1996 Phone:
(410) 884-2117
11000 Broken Land Parkway Distribution
Date: April 18, 1996 InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800
Class Distribution Per
1,000 of Original Balance - Issuing
Total Other
Total
Interest Scheduled Principal Total Principal
Principal Ending
Distribution Principal Distribution Distribution
Balance Principal
Class Cusip Original Balance
Factor Factor Factor Factor
Reduction Factor
______________________________________________________________
______________________________________________________________
_________________________
A-1 294419AU0 35,000,000.00
4.95132743 2.40969657 40.32514200 42.73483857
0.00000000 0.8784423443
A-2 294419AV8 21,000,000.00
5.41666667 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
A-3 294419AW6 10,000,000.00
5.62500000 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
A-4 294419AX4 8,000,000.00
5.91666625 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
A-5 294419AY2 5,287,000.00
6.16666730 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
A-6 294419AZ9 39,667,000.00
4.69106587 1.96983765 16.64865783 18.61849547
0.00000000 0.9247043651
B Fixed N/A 567.57
451734.86970770 0.00000000 0.00000000
0.00000000 0.00000000 880.9486054584
B Vari N/A 142.78
0.00000000 0.00000000 0.00000000 0.00000000
3501.8910211514
RU N/A 0.00
N/A N/A N/A N/A
N/A N/A
______________________________________________________________
______________________________________________________________
_________________________
Totals 118,954,710.35
0.9475264138
Report 3
04/16/96 -- 3:16pm
Page 1 of 1
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: March 1996
Phone: (410) 884-2117
11000 Broken Land Parkway
Distribution Date: April 18, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Class
Principal Distribution - Issuing
Beginning
Principal Ending Current
Principal Scheduled Unscheduled
Other Total Principal Balance Principal
Undistributed
Class Balance Principal Principal
Accretion Principal Distribution Reduction*
Balance Principal
______________________________________________________________
______________________________________________________________
________________________________________
A-1 32,241,201.40 84,339.38 1,411,379.97
0.00 0.00 1,495,719.35 0.00
30,745,482.05 0.00
A-2 21,000,000.00 0.00 0.00
0.00 0.00 0.00 0.00
21,000,000.00 0.00
A-3 10,000,000.00 0.00 0.00
0.00 0.00 0.00 0.00
10,000,000.00 0.00
A-4 8,000,000.00 0.00 0.00
0.00 0.00 0.00 0.00
8,000,000.00 0.00
A-5 5,287,000.00 0.00 0.00
0.00 0.00 0.00 0.00
5,287,000.00 0.00
A-6 37,418,787.91 78,137.55 660,402.31
0.00 0.00 738,539.86 0.00
36,680,248.05 0.00
B Fixed 500,000.00 0.00 0.00
0.00 0.00 0.00 0.00
500,000.00 0.00
B Vari 500,000.00 0.00 0.00
0.00 0.00 0.00 0.00
500,000.00 0.00
RU 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00
______________________________________________________________
______________________________________________________________
________________________________________
Totals 114,946,989.31 162,476.93 2,071,782.28
0.00 0.00 2,234,259.21 0.00
112,712,730.10 0.00
*Principal Balance Reduction
Realized Losses Principal Balance Reduction
0.00
Negative Amortization Principal Balance Reduction
0.00
Other
0.00
Report 4
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Page 1 of 1
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: March 1996
Phone: (410) 884-2117
11000 Broken Land Parkway
Distribution Date: April 18, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Class
Interest Distribution - Issuing
Beginning
Negative Ending
Principal/
Interest Amortization
Principal/
Notional
Interest Shortfall/ Other
Interest Total Interest Notional
Class Pass-Through Rate Balance
Accrual (Recovery) Accretion Interest
Reduction Distribution Balance
______________________________________________________________
______________________________________________________________
_________________________________________
A-1 6.45000000% 32,241,201.40
173,296.46 0.00 0.00 0.00
0.00 173,296.46 30,745,482.05
A-2 6.50000000% 21,000,000.00
113,750.00 0.00 0.00 0.00
0.00 113,750.00 21,000,000.00
A-3 6.75000000% 10,000,000.00
56,250.00 0.00 0.00 0.00
0.00 56,250.00 10,000,000.00
A-4 7.10000000% 8,000,000.00
47,333.33 0.00 0.00 0.00
0.00 47,333.33 8,000,000.00
A-5 7.40000000% 5,287,000.00
32,603.17 0.00 0.00 0.00
0.00 32,603.17 5,287,000.00
A-6 5.96750000% 37,418,787.91
186,080.51 0.00 0.00 0.00
0.00 186,080.51 36,680,248.05
B Fixed 615.33878994% 500,000.00
256,391.16 0.00 0.00 0.00
0.00 256,391.16 500,000.00
B Vari 357.38437429% 500,000.00
148,910.16 0.00 0.00 0.00
0.00 148,910.16 500,000.00
RU 0.00000000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
______________________________________________________________
______________________________________________________________
_________________________________________
Totals
1,014,614.79 0.00 0.00
0.00 0.00 1,014,614.79
Notes:
Class A-6 Interest is accrued @ LIBOR = 5.3750% over the
applicable accrual period.
Report 5
04/16/96 -- 3:16pm
Page 1 of 1
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: March 1996
Phone: (410) 884-2117
11000 Broken Land Parkway
Distribution Date: April 18, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Fund Account Summary - Issuing
______________________________________________________________
______________________________________________________________
__________________________________________________
Proceeds Account
Beginning Balance
0.00
DEPOSITS:
WITHDRAWALS:
Interest Net of Servicing Fee 1,014,614.79
Interest Payments 1,014,614.79
Scheduled Principal 162,476.93
Scheduled Principal Payment 162,476.93
Other Principal 2,071,782.28
Other Principal Payments 2,071,782.28
Negative Amortization 0.00
Reserve Fund 1 0.00
Deposits from Reserve Fund 0.00
Fees and Expenses 0.00
Gain/Loss Adjustment 0.00
Other Withdrawals 0.00
Other Deposits 0.00
Total Deposit
3,248,874.00 Total Withdrawals
3,248,874.00
Ending Balance
0.00
______________________________________________________________
______________________________________________________________
__________________________________________________
Report 6
04/16/96 -- 3:16pm
Page 1 of 1
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: March 1996
Phone: (410) 884-2117
11000 Broken Land Parkway
Distribution Date: April 18, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Loss/Delinquency Detail - Issuing
Current Current Current
Current Total Aggregate Aggregate
Aggregate Aggregate Total
Fraud Bankruptcy Special Hazard
Credit Current Fraud Bankruptcy
Special Hazard Credit Aggregate
Pool # Losses Losses Losses
Losses Losses Losses Losses
Losses Losses Losses
______________________________________________________________
______________________________________________________________
_____________________________________________
1 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
2 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
______________________________________________________________
______________________________________________________________
_____________________________________________
Totals 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
______________________________________________________________
______________________________________________________________
____________________________________
30 Days Delinquent 60 Days Delinquent
90 Days Delinquent Foreclosures REO's
Totals
Number Balance Number Balance
Number Balance Number Balance Number
Balance Number Balance
1 101 5,689,889.42 19 1,172,590.84
10 604,576.42 8 470,900.28 0
0.00 138 7,937,956.96
2 41 3,688,202.52 6 402,898.06
6 788,531.13 2 286,000.00 0
0.00 55 5,165,631.71
______________________________________________________________
______________________________________________________________
____________________________________
Totals 142 9,378,091.94 25 1,575,488.90
16 1,393,107.55 10 756,900.28 0
0.00 193 13,103,588.67
Report 7
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Page 1 of 1
Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services Reporting
Month: March 1996 Phone:
(410) 884-2117
11000 Broken Land Parkway Distribution
Date: April 18, 1996 InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800
Collateral Summary - Issuing
Total| Pool 1 Pool 2
______________________________________________________________
___________________________________________
Monthly P&I Constant
1,235,060.20| 802,809.46 432,250.74
|
Positive Amortization
162,476.93| 84,339.38 78,137.55
Negative Amortization
0.00| 0.00 0.00
Regular Curtailments
0.00| 0.00 0.00
Regular Curtailment Interest
0.00| 0.00 0.00
Prepaid Curtailments
0.00| 0.00 0.00
Prepaid Curtailment Interest
0.00| 0.00 0.00
Liquidations
2,071,782.28| 1,411,379.97 660,402.31
Principal Adjustments
0.00| 0.00 0.00
Total Principal Trust Distribution
2,234,259.21| 1,495,719.35 738,539.86
|
Scheduled Interest
1,072,583.27| 718,470.08 354,113.19
Servicing Fee
40,994.07| 27,684.73 13,309.34
Master Servicing Fee
2,634.20| 1,765.23 868.97
Spread
0.00| 0.00 0.00
Total Pass-Through Interest
1,014,614.79| 679,624.12 334,990.67
|
Beginning Balance
114,946,989.31| 77,028,201.40 37,918,787.91
Ending Balance
112,712,730.10| 75,532,482.05 37,180,248.05
Gross P&I Distribution
3,265,848.41| 2,186,504.70 1,079,343.71
Realized Losses/(Gains)
0.00| 0.00 0.00
Net P&I Trust Distribution
3,265,848.41| 2,186,504.70 1,079,343.71
|
Beginning Loan Count
1594| 1208 386
Number of Loan Payoffs
29| 21 8
Ending Loan Count
1565| 1187 378
|
Weighted Average Maturity
0.0000000000| 233.1600000000 346.6000000000
Weighted Average Gross Rate
0.000000000%| 11.136800000% 10.884600000%
Weighted Average Net Rate
0.000000000%| 10.705500000% 10.463400000%
Weighted Average Pass-Through Rate
0.000000000%| 10.529300000% 10.277100000%
Weighted Average Margin
0.000000000%| 0.000000000% 6.208800000%
|
Advances on Delinquencies
|
Current Period Principal
0.00| 0.00 0.00
Current Period Interest
0.00| 0.00 0.00
|
|
Report 8
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