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) October
18, 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 October 18, 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 October
18, 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 6-14
as of October 18, 1996.
EXHIBIT 21.1 PAGE 6
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: September 1996
Phone: (410) 884-2117
11000 Broken Land Parkway
Distribution Date: October 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 0.6058775134
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 5.83750000% 0.00
0.00 0.00 0.6966816976
B Fixed Subordinate Sequential Pay Variable
567.57 205.15318571% 4,797.22
0.00 0.00
B Vari Subordinate Sequential Pay Variable
142.78 130.52361659% 26.01
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 4,823.23
0.00 0.00 0.8071419049
EXHIBIT 21.1 PAGE 7
Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: September 1996 Phone:
(410) 884-2117
11000 Broken Land Parkway
Distribution Date: October 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 10/01/1996 6.45000000%
22,817,265.82 122,642.80 1,611,552.85
0.00 21,205,712.97 1,734,195.65
A-2 10/01/1996 6.50000000%
21,000,000.00 113,750.00 0.00
0.00 21,000,000.00 113,750.00
A-3 10/01/1996 6.75000000%
10,000,000.00 56,250.00 0.00
0.00 10,000,000.00 56,250.00
A-4 10/01/1996 7.10000000%
8,000,000.00 47,333.33 0.00
0.00 8,000,000.00 47,333.33
A-5 10/01/1996 7.40000000%
5,287,000.00 32,603.17 0.00
0.00 5,287,000.00 32,603.17
A-6 09/30/1996 5.83750000%
29,390,249.98 142,971.32 1,754,977.08
0.00 27,635,272.90 1,897,948.40
B Fixed 10/01/1996 205.15318571%
1,340,909.46 0.00 0.00
4,242.95 1,565,909.72 0.00
B Vari 09/30/1996 130.52361659%
1,190,000.00 0.00 0.00
0.00 1,319,435.92 0.00
RU 09/30/1996 0.00000000%
0.00 0.00 0.00
0.00 0.00 0.00
____________________________________________________________
____________________________________________________________
____________________________________
Totals
99,025,425.26 515,550.62 3,366,529.93
4,242.95 96,013,331.51 3,882,080.55
EXHIBIT 21.1 PAGE 8
Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services Reporting
Month: September 1996 Phone:
(410) 884-2117
11000 Broken Land Parkway Distribution
Date: October 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
3.50408000 2.74471771 36.74984343 46.04436714
0.00000000 0.6058775134
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
3.60428870 0.21586760 40.76381728 44.24274788
0.00000000 0.6966816976
B Fixed N/A 567.57
0.00000000 0.00000000 0.00000000 0.00000000
7475.64177106 2758.9719682154
B Vari N/A 142.78
0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 9241.0416024653
RU N/A 0.00
N/A N/A N/A N/A
N/A N/A
____________________________________________________________
____________________________________________________________
_____________________________
Totals 118,954,710.35
0.8071419049
EXHIBIT 21.1 PAGE 9
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: September 1996
Phone: (410) 884-2117
11000 Broken Land Parkway
Distribution Date: October 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 22,817,265.82 96,065.12
1,286,244.52 229,243.21 0.00
1,611,552.85 0.00 21,205,712.97
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 29,390,249.98 8,562.82
1,616,978.34 129,435.92 0.00
1,754,977.08 0.00 27,635,272.90
0.00
B Fixed 1,340,909.46 0.00
0.00 (229,243.21) 0.00 0.00
4,242.95 1,565,909.72 0.00
B Vari 1,190,000.00 0.00
0.00 (129,435.92) 0.00 0.00
0.00 1,319,435.92 0.00
RU 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
____________________________________________________________
____________________________________________________________
____________________________________________
Totals 99,025,425.26 104,627.94
2,903,222.86 0.00 0.00
3,366,529.93 4,242.95 96,013,331.51
0.00
*Principal Balance Reduction
Realized Losses Principal Balance Reduction
4,242.95
Negative Amortization Principal Balance Reduction
0.00
Other
0.00
EXHIBIT 21.1 PAGE 10
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: September 1996
Phone: (410) 884-2117
11000 Broken Land Parkway
Distribution Date: October 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% 22,817,265.82
122,642.80 0.00 0.00
0.00 0.00 122,642.80 21,205,712.97
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 5.83750000% 29,390,249.98
142,971.32 0.00 0.00
0.00 0.00 142,971.32 27,635,272.90
B Fixed 205.15318571% 1,340,909.46
229,243.21 0.00 229,243.21
0.00 0.00 0.00 1,565,909.72
B Vari 130.52361659% 1,190,000.00
129,435.92 0.00 129,435.92
0.00 0.00 0.00 1,319,435.92
RU 0.00000000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
____________________________________________________________
____________________________________________________________
_____________________________________________
Totals
874,229.75 0.00 358,679.13
0.00 0.00 515,550.62
EXHIBIT 21.1 PAGE 11
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: September 1996
Phone: (410) 884-2117
11000 Broken Land Parkway
Distribution Date: October 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 874,229.75
Interest Payments 515,550.62
Scheduled Principal 104,627.94
Scheduled Principal Payment 104,627.94
Other Principal 2,903,222.86
Other Principal Payments 3,261,901.99
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
3,882,080.55 Total Withdrawals
3,882,080.55
Ending Balance
0.00
____________________________________________________________
____________________________________________________________
______________________________________________________
EXHIBIT 21.1 PAGE 12
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: September 1996
Phone: (410) 884-2117
11000 Broken Land Parkway
Distribution Date: October 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
4,231.64 4,231.64 0.00 0.00
0.00 4,797.22 4,797.22
2 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 26.01 26.01
____________________________________________________________
____________________________________________________________
_________________________________________________
Totals 0.00 0.00 0.00
4,231.64 4,231.64 0.00 0.00
0.00 4,823.23 4,823.23
____________________________________________________________
____________________________________________________________
________________________________________
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
1 120 7,949,193.97 33 1,531,548.92
17 1,411,792.27 19 1,078,845.72 1
93,129.43 190 12,064,510.31
2 47 3,913,629.21 15 1,570,515.21
9 1,308,808.28 7 920,031.75 1
175,500.00 79 7,888,484.45
____________________________________________________________
____________________________________________________________
________________________________________
Totals 167 11,862,823.18 48 3,102,064.13
26 2,720,600.55 26 1,998,877.47 2
268,629.43 269 19,952,994.76
EXHIBIT 21.1 PAGE 13
Equicon
Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services Reporting
Month: September 1996 Phone:
(410) 884-2117
11000 Broken Land Parkway
Distribution Date: October 18, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Collateral Summary - Issuing
Total| Pool 1 Pool 2
____________________________________________________________
_____________________________________________
Monthly P&I Constant
1,028,688.12| 732,399.36 296,288.76
|
Positive Amortization
104,627.94| 96,065.12 8,562.82
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
2,903,222.86| 1,286,244.52 1,616,978.34
Principal Adjustments
0.00| 0.00 0.00
Total Principal Trust Distribution
3,007,850.80| 1,382,309.64 1,625,541.16
|
Scheduled Interest
924,060.18| 636,334.24 287,725.94
Servicing Fee
35,286.96| 24,584.52 10,702.44
Master Servicing Fee
2,269.34| 1,568.54 700.80
Spread
0.00| 0.00 0.00
Total Pass-Through Interest
874,229.75| 601,822.51 272,407.24
|
Beginning Balance
99,025,425.23| 68,445,175.25 30,580,249.98
Ending Balance
96,013,331.51| 67,058,622.69 28,954,708.82
Gross P&I Distribution
3,896,624.02| 1,994,059.36 1,902,564.66
Realized Losses/(Gains)
4,231.64| 4,231.64 0.00
Net P&I Trust Distribution
3,892,392.38| 1,989,827.72 1,902,564.66
|
Beginning Loan Count
1385| 1079 306
Number of Loan Payoffs
41| 24 17
Ending Loan Count
1344| 1055 289
|
Weighted Average Maturity
0.0000000000| 226.5700000000 340.8800000000
Weighted Average Gross Rate
0.000000000%| 11.083900000% 11.025600000%
Weighted Average Net Rate
0.000000000%| 10.652880000% 11.213130000%
Weighted Average Pass-Through Rate
0.000000000%| 10.476400000% 11.025600000%
Weighted Average Margin
0.000000000%| 0.000000000% 6.180300000%
|
Advances on Delinquencies
|
Current Period Principal
0.00| 0.00 0.00
Current Period Interest
0.00| 0.00 0.00
|
EXHIBIT 21.1 PAGE 14
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services
Reporting Month: September 1996
Phone: (410) 884-2117
11000 Broken Land Parkway
Distribution Date: October 18, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Credit Enhancement Summary - Issuing
Initial Current Current
Current Current Current
Coverage Period Period Cumulative
Coverage Coverage Pool
Type/Purpose
Amount Losses Additions Losses
Percentage Amount Balance
____________________________________________________________
____________________________________________________________
___________________________________________
Subordination
710.35 4,242.95 0.00 4,823.23
3.00515105% 2,885,345.64 96,013,331.51
Principal
Distribution
Scheduled Unscheduled
Amount Percentage
Payment Payment
___________________________________________________________
Senior 3,007,850.80 100.00000000%
100.00000000% 100.00000000%
Subordinate 0.00 0.00000000%
0.00000000% 0.00000000%
