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) May 20,
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)
9840979
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 May 20, 1996. We have furnished a monthly remittance
statement delivered to the trustee with security holder
payment instructions.
Monthly Remittance
Statement...................................................
. .....Exhib it 21.1
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
21.1 Monthly Remittance Statement dated as of May
20,
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 May 20, 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: April 1996
Phone:
(410) 884-2117
11000 Broken Land Parkway Distribution
Date: May 20, 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
0.8294784200
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 6.26833067% 0.00 0.00
0.00
0.8981797925
B Fixed Subordinate Sequential Pay Variable
567.57 1.36149600% 567.29 0.00
0.00
880.9486054584
B Vari Subordinate Sequential Pay Variable
142.78 878.82391200% 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
593.30 0.00
0.00
0.9273528793
Report 1 05/16/96 -- 3:18pm
Page 1
of 1
EXHIBIT 21.1 PAGE 7
Equicon Mortgage Loan
Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol
Tracey
Securities Administration Services Reporting Month:
April 1996 Phone: (410) 884-
2117
11000 Broken Land Parkway Distribution Date:
May 20, 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 04/30/1996
6.45000000% 30,745,482.05 165,256.97
1,713,737.35 0.00
29,031,744.70
1,878,994.32
A-2 04/30/1996 6.50000000% 21,000,000.00
113,750.00 0.00 0.00 21,000,000.00
113,750.00
A-3 04/30/1996 6.75000000% 10,000,000.00
56,250.00 0.00 0.00 10,000,000.00
56,250.00
A-4 04/30/1996 7.10000000% 8,000,000.00
47,333.33 0.00 0.00 8,000,000.00
47,333.33
A-5 04/30/1996 7.40000000% 5,287,000.00
32,603.17 0.00 0.00 5,287,000.00
32,603.17
A-6 04/30/1996 6.26833067%
36,680,248.05 191,603.27 1,052,150.22
0.00 35,628,097.83
1,243,753.49
B Fixed 04/30/1996 1.36149600%
500,000.00 0.00 0.00 567.29
500,000.00
0.00
B Vari 04/30/1996 878.82391200%
500,000.00 0.00 0.00 26.01
866,150.62
0.00
RU 04/30/1996 0.00000000%
0.00 0.00 0.00 0.00 0.00
0.00
____________________________________________________________
____________________________________________________________
___________________ _____________ __
__ Totals 112,712,730.10 606,796.74
2,765,887.57 593.30 110,312,993.15
3,372,684.31
Report 2 05/16/96 -- 3:18pm
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of
1
EXHIBIT 21.1 PAGE 8
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol Tracey
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2117
11000 Broken Land Parkway Distribution Date:
May 20, 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 4.72162771 2.04194371
46.90577229
48.96392429 0.00000000
0.8294784200
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 4.83029395
0.72368720 16.56961933 26.52457257 0.00000000
0.8981797925
B Fixed N/A 567.57 0.00000000
0.00000000 0.00000000 0.00000000
999.50666878
880.9486054584
B Vari N/A 142.78 0.00000000
0.00000000 0.00000000 0.00000000
182.16837092
6066.3301582855
RU N/A 0.00 N/A N/A
N/A N/A N/A
N/A
____________________________________________________________
____________________________________________________________
______________ ___________ __
__ Totals 118,954,710.35
0.9273528793
Report 3 05/16/96 -- 3:18pm
Page 1 of
1
EXHIBIT 21.1 PAGE 9
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol Tracey
Securities Administration Services Reporting Month:
April 1996 Phone:
(410) 884-2117
11000 Broken Land Parkway Distribution Date:
May 20, 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
30,745,482.05 71,468.03 1,641,702.03
567.29 0.00 1,713,737.35
0.00 29,031,744.70
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 36,680,248.05 28,706.50
657,267.09 366,176.63 0.00 1,052,150.22 0.00
35,628,097.83
0.00
B Fixed 500,000.00 0.00 0.00
(567.29) 0.00 0.00 567.29
500,000.00
0.00
B Vari 500,000.00 0.00 0.00
(366,176.63) 0.00 0.00
26.01 866,150.62
0.00
RU 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00
0.00
____________________________________________________________
____________________________________________________________
___________________________ _____________ __ __ Totals
112,712,730.10 100,174.53 2,298,969.12
0.00 0.00 2,765,887.57
593.30 110,312,993.15
0.00
*Principal Balance Reduction
Realized Losses Principal Balance Reduction
593.30
Negative Amortization Principal Balance Reduction
0.00
Other 0.00
Report 4 05/16/96 -- 3:18pm
Page 1
of
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EXHIBIT 21.1 PAGE 10
Equicon Mortgage
Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol Tracey
Securities Administration Services
Reporting Month: April 1996 Phone:
(410) 884-2117
11000 Broken Land Parkway
Distribution Date: May 20, 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% 30,745,482.05 165,256.97
0.00 0.00 0.00 0.00 165,256.97
29,031,744.70
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 6.26833067% 36,680,248.05 191,603.27 0.00
0.00 0.00 0.00 191,603.27
35,628,097.83
B Fixed 1.36149600% 500,000.00 567.29 0.00
567.29 0.00 0.00 0.00
500,000.00
B Vari 878.82391200% 500,000.00 366,176.63 0.00
366,176.63 0.00 0.00 0.00
866,150.62
RU 0.00000000% 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00
____________________________________________________________
____________________________________________________________
____________________________________ _____
__
__ Totals 973,540.66
0.00 366,743.92 0.00 0.00
606,796.74
Notes:
Class A-6 Interest is accrued @ LIBOR = 5.47656% over the
applicable accrual period.
Report 5 05/16/96 -- 3:18pm
Page 1
of
1
EXHIBIT 21.1 PAGE 11
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol
Tracey
Securities Administration Services Reporting Month:
April 1996 Phone:
(410) 884-
2117
11000 Broken Land Parkway Distribution Date:
May 20, 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
973,540.66 Interest Payments
606,796.74
Scheduled Principal
100,174.53 Scheduled Principal Payment
100,174.53
Other Principal
2,298,969.12 Other Principal Payments
2,665,713.04
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 3,372,684.31 Total
Withdrawals
3,372,684.31
Ending Balance
(0.00)
____________________________________________________________
____________________________________________________________
____________________________________ _____________
__ ___
Report 6 05/16/96 -- 3:18pm
Page 1 of 1
EXHIBIT 21.1 PAGE 12
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A. Contact:
Carol Tracey
Securities Administration Services
Reporting Month: April 1996 Phone:
(410) 884-2117
11000 Broken Land Parkway
Distribution Date: May 20, 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
0.00 565.58 565.58 0.00
0.00 0.00
565.58
565.58
2 0.00 0.00
0.00 26.01 26.01 0.00
0.00 0.00
26.01
26.01
____________________________________________________________
____________________________________________________________
________________________________ _____________ __ __ Totals
0.00 0.00
0.00 591.59 591.59 0.00
0.00 0.00
591.59
591.59
____________________________________________________________
____________________________________________________________
________________________________ ________
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 1 107 6,708,458.50 13
659,292.61 11 765,976.04 12 730,566.44
0 0.00 143
8,864,293.59
2 46 4,305,202.49 8
742,617.22 7 701,015.04 3 538,000.00
0 0.00 64
6,286,834.75
____________________________________________________________
____________________________________________________________
________________________
_____________
___ Totals 153 11,013,660.99 21 1,401,909.83
18 1,466,991.08 15 1,268,566.44 0
0.00 207
15,151,128.34
Report 7 05/16/96 -- 3:18pm
Page 1 of
1
EXHIBIT 21.1 PAGE 13
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact: Carol Tracey
Securities Administration Services Reporting Month:
April 1996 Phone:
(410) 884-
2117
11000 Broken Land Parkway Distribution Date:
May 20, 1996 InvestorDirect:
(800) 605-
4167
Columbia, MD 21044-7800
Collateral Summary - Issuing
Total| Pool 1 Pool
2
____________________________________________________________
____________________________ _____________ __ __
Monthly P&I Constant 1,130,536.04|
763,973.57 366,562.47
|
Positive Amortization 100,174.53|
71,468.03 28,706.50
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 2,298,969.12| 1,641,702.03
657,267.09
Principal Adjustments 0.00| 0.00
0.00
Total Principal Trust Distribution
2,399,143.65| 1,713,170.06
685,973.59
|
Scheduled Interest 1,030,361.51|
692,505.54
337,855.97
Servicing Fee 40,197.21| 27,148.45
13,048.76
Master Servicing Fee 2,583.00|
1,730.95
852.05
Spread 0.00| 0.00
0.00
Total Pass-Through Interest
973,540.66| 654,438.60
319,102.06
|
Beginning Balance 112,712,730.10|
75,532,482.05
37,180,248.05
Ending Balance 110,312,993.15| 73,818,744.70
36,494,248.45
Gross P&I Distribution 3,389,307.95|
2,378,527.15
1,010,780.80
Realized Losses/(Gains) 591.59|
565.58
26.01
Net P&I Trust Distribution 3,388,716.36|
2,377,961.57
1,010,754.79
|
Beginning Loan Count 1565|
1187
378
Number of Loan Payoffs 33| 22
11
Ending Loan Count 1532|
1165
367
|
Weighted Average Maturity 0.0000000000|
231.7100000000
345.5900000000
Weighted Average Gross Rate 0.000000000%|
11.127000000%
10.933000000%
Weighted Average Net Rate
0.000000000%| 10.695687000%
10.511848641%
Weighted Average Pass-Through Rate 0.000000000%|
10.519500000%
10.325500000%
Weighted Average Margin 0.000000000%|
0.000000000%
6.206400000%
|
Advances on Delinquencies
|
Current Period Principal
0.00| 0.00
0.00
Current Period Interest
0.00| 0.00
0.00
|
|
Report 8
05/16/96 -- 3:18pm
Page 1 of 1
EXHIBIT 21.1 PAGE 14
Equicon Mortgage Loan Trust 1995-2
Norwest Bank Minnesota, N.A.
Contact:
Carol
Tracey
Securities Administration Services Reporting Month:
April 1996 Phone:
(410) 884-
2117
11000 Broken Land Parkway
Distribution Date: May 20, 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
710.35 593.30 0.00 593.30
1.23843129% 1,366,150.62
110,312,993.15
Principal
Distribution Scheduled
Unscheduled Amount Percentage
Payment
Payment
___________________________________________________________
Senior 2,399,143.65 100.00000000% 100.00000000%
100.00000000%
Subordinate 0.00 0.00000000%
0.00000000%
0.00000000%
Report 9 05/16/96 -- 3:18pm
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