SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
(Mark One)
[ x ] Annual Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the fiscal year ended DECEMBER 31, 1997
______________________ or
[ ] Transition Report Pursuant to Section 13 or 15 15d of the Securities
Exchange Act of 1934
For the transition period from _____________ to ________
Commission file Number 333-00282
Transamerica Consumer Mortgage Receivables Corporation
(Exact name of registrant as specified in its charter)
Delaware 33-0688964
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
1150 South Olive Street, Suite 2800
Los Angeles, CA 90015
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (213) 742-4865
Securities registered pursuant to Section 12(b) of the Act
NONE
Securities registered pursuant to Section 12(g) of the Act
NONE
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes x No (See Note)
Note: Registrant has only been required to file since December 5, 1997,
the Closing Date. PART I
Item 2. Properties
See Exhibit 99.1
See Exhibit 99.2
Item 3. Legal Proceedings
There were no legal proceedings.
Item 4. Submission of Matters to a Vote of Security Holders
There were no matters submitted to a vote of the Security Holders.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder matters
1 There were FIVE participants in the DTC system holding positions
in the Cede certificates.
The following were Noteholders and Certificateholders of record
as of the end of the reporting year.
TFC Home Equity Loan Asset-Backed Certificates, Series 1997-1
Series 1997-1 Class A-1 Cede & Co.
Series 1997-1 Class A-2 Cede & Co.
Series 1997-1 Class A-3 Cede & Co.
Series 1997-1 Class A-4 Cede & Co.
Series 1997-1 Class A-5 Cede & Co.
There is no established public trading market for the notes.
Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosures: Information required by Item 304 of Reg. S-K.
There were no changes in and/or disagreements with Accountants on
Accounting and Financial Disclosures.
PART IV
Item 12. Security Ownership of Certain Beneficial Owners and Management
The Notes are represented by one or more notes registered in the name of
of Cede & Co., the nominee of The Depository Trust Company. An investor
holding Notes in not entitled to receive a certificate representing such
Note, except in limited circumstances. Accordingly, Cede & Co. is the
sole holder of Notes, which it holds on behalf of brokers, dealers,
banks and other participants in the DTC system. Such participants may
hold Notes for their own accounts or for the accounts of their customers.
The address of Cede & Co. is:
Cede & Co.
c/o The Depository Trust Company
Seven Hanover Square
New York, New York 10004
Item 13. Certain Relationships and Related Transactions.
There has not been, and there is not currently proposed, any transactions
or series or transactions, to which any of the Trust, the Registrant,
the Trustee or the Servicer is a party with any Noteholder who, to the
knowledge of the Registrant and Servicer, owns of record or beneficially
more than five percent of the Notes.
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K
(a) 1. Not Applicable
2. Not Applicable
3. Exhibits
99.1 Annual Summary Statement
99.2 Annual Statement as to Compliance.
99.3 Annual Independent Public
Accountant's Servicing Report.
(b) Reports on Form 8-K
The Registrant has filed Current Reports on Form 8-K
with the Securities and Exchange Commision dated
December 26, 1997.
(c) See (a) 3 above
(d) Not Applicable
SIGNATURES
Pursuant to the requirements of Section 13 and 15(d) 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.
Transamerica Consumer Mortgage Receivables Corporation
/s/ Janice OttRotuno
Vice President
The First National Bank of Chicago
Date March 30, 1997
INDEX OF EXHIBITS
99.1 Annual Summary Statement
99.2 Annual Statement as to Compliance.
99.3 Annual Independent Public
Accountant's Servicing Report.
EXHIBIT 99.1 -- Summary of Aggregate Amounts or End of Year
Amounts for the period ending December 31, 1997
TFC Home Equity Loan Asset-Backed Certificates, Series 1997-1
Summary of Aggregate Amounts or End of Year Amounts
Pool Ending Balance 164,528,809.93
Fixed Rate Group Ending Balance $54,933,100.72
Floating Rate Group Ending Balance $109,595,709.21
Pool Principal Collections $4,602,534.07
Fixed Rate Group Principal Collections $1,487,436.28
Floating Rate Group Principal Collections $3,115,097.79
Pool Interest Collections $1,536,126.29
Fixed Rate Group Interest Collections $561,011.52
Floating Rate Group Interest Collections $975,114.77
Pool Servicing Fee $70,471.40
Fixed Rate Group Servicing Fee $23,508.56
Floating Rate Group Servicing Fee $46,962.84
Pool Insurance Prem. $26,600.48
Fixed Rate Group Insurance Prem. $8,933.17
Floating Rate Group Insurance Prem. $17,667.31
Pool Realized Losses $0.00
Fixed Rate Group Realized Losses $0.00
Floating Rate Group Realized Losses $0.00
Delinquency Percentages
Fixed Rate Group 31-60 Days 4.19%
Floating Rate Group 31-60 Days 2.08%
Fixed Rate Group 61-90 Days 0.62%
Floating Rate Group 61-90 Days 0.66%
Fixed Rate Group 91 or more Days 0.00%
Floating Rate Group 91 or more Days 1.18%
Ending Balance Principal Interest
Class A-1 $22,816,858.15 $1,747,141.85 $88,266.64
Class A-2 $10,989,000.00 $0.00 $60,531.08
Class A-3 $9,686,000.00 $0.00 $54,564.47
Class A-4 $11,181,000.00 $0.00 $65,502.03
Class A-5 107,962,928.81 $3,620,071.19 $405,511.22
EXHIBIT 99.2 -- Servicer's Annual Statement of Compliance
To be supplied upon receipt by the Trustee
EXHIBIT 99.3 -- Report of Independent Auditors
To be supplied upon receipt by the Trustee
