AMRESCO RESIDENTIAL SECURITIES CORP MORT LOAN TRUST 1996-1
8-K, 1997-02-19
ASSET-BACKED SECURITIES
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               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):
                        January 26, 1996
                                
                                
    AMRESCO Residential Securities Corporation on behalf of:
                                
   AMRESCO Residential Securities Corporation Mortgage Loan Trust
                             1996-1
     (Exact name of registrant as specified in its charter)
                                
                                
                                
                                
                                                      
                                                      
          New York              33-99346         33-0697613
(State or Other Jurisdiction   (Commission    (I.R.S. Employer
      of Incorporation)       File Number)  Identification No.)
              
  c/o Bankers Trust Company                           
     of California, N.A.                              
  3 Park Plaza, 16th Floor                            
     Irvine, California                            92714
                                                      
    (Address of Principal                        (Zip Code)
     Executive Offices)
                                
Registrant's telephone number, including area code (909) 605-7600
                                
                                          No Change
  (Former name or former address, if changed since last report)
                                
1
                                

Item 5.   Other Events.
        Information    relating   to   the    distributions    to
Certificateholders  for  the period from  December  31,  1996  to
January   27,   1997  (the  "Monthly  Period")  of  the   AMRESCO
Residential  Securities Corporation Mortgage  Loan  Trust  1996-1
(the  "Registrant"  or "Trust") in respect of the  Mortgage  Loan
Asset   Backed   Certificates,  Series  1996-1,  Class   A   (the
"Certificates") issued by the Registrant and the  performance  of
the  Trust  (including distributions of principal  and  interest,
delinquent  balances  of  mortgage loans,  and  the  subordinated
amount   remaining),  together  with  certain  other  information
relating to the Certificates, is contained in the Monthly  Report
for the Monthly Period provided to Certificateholders pursuant to
the  Pooling and Servicing Agreement dated as of January 1, 1996,
among  AMRESCO Residential Securities Corporation in its capacity
as  Depositor,  AMRESCO Residential Mortgage Corporation  in  its
capacity  as the Seller, Long Beach Mortgage Company  and  Option
One  Mortgage  Corporation as the Servicers,  and  Bankers  Trust
Company  of California, N.A., a national banking association,  in
its capacity as the trustee.


Item 7.   Exhibit.

      Monthly  Report  for  the Monthly Period  relating  to  the
Certificates issued by the Trust.


                           SIGNATURE


      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 hereunto duly authorized.


                          By:    AMRESCO  Residential  Securities
Corporation

                          By: /s/Ronald B. Kirkland
                             Name:  Ronald B. Kirkland
                             Title: Vice President and
                                    Chief Accounting Officer



Dated:  February 18, 1997


<TABLE>
                   AMRESCO Residential Securities Corporation
                              Mortgage Loan Trust
                                 Series 1996-1
                        Statement to Certificateholders
                            Distributions in Dollars

<CAPTION>                                        
                            PRIOR                                                                          CURRENT
          ORIGINAL        PRINCIPAL                                                REALIZED  DEFERRRED    PRINCIPAL
CLASS    FACE VALUE        BALANCE        INTEREST       PRINCIPAL      TOTAL       LOSSES   INTEREST      BALANCE
<S>    <C>              <C>              <C>            <C>          <C>           <C>       <C>        <C>
A-1      62,239,000.00    30,889,022.25    157,662.72   3,685,897.35 3,843,560.07  .00       .00         27,203,124.90
A-2      48,683,000.00    48,683,000.00    246,457.69       .00        246,457.69  .00       .00         48,683,000.00
A-3      20,123,000.00    20,123,000.00    107,741.90       .00        107,741.90  .00       .00         20,123,000.00
A-4      24,091,000.00    24,091,000.00    136,013.77       .00        136,013.77  .00       .00         24,091,000.00
A-5      19,216,000.00    19,216,000.00    112,894.00       .00        112,894.00  .00       .00         19,216,000.00
A-6     100,592,000.00    65,843,108.07    353,970.79   4,042,115.90 4,396,086.69  .00       .00         61,800,992.17
B-10         .00             .00           657,816.08       .00        657,816.08  .00       .00                  0.00
R            .00             .00             .00            .00          .00       .00       .00                  0.00
TOTALS  274,944,000.00   208,845,130.32  1,772,556,95   7,728,013.25 9,500,570.20  .00       .00        201,117,117.07
</TABLE>
<TABLE>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                                 PASS-THROUGH
                                                                                                    RATES
<CAPTION>
                      PRIOR                                                 CURRENT                        
                    PRINCIPAL                                              PRINCIPAL                       
CLASS    CUSIP       BALANCE      INTEREST     PRINCIPAL       TOTAL        BALANCE       CURRENT        NEXT
<S>    <C>         <C>              <C>          <C>          <C>         <C>             <C>           <C>         
 A-1   03215PAA7     496.296892     2.533182     59.221667    61.754849     437.075225    6.125000%     6.125000%
 A-2   03215PAB5   1,000.000000     5.062500      0.000000     5.062500   1,000.000000    6.075000%     6.075000%
 A-3   03215PAC3   1,000.000000     5.354167      0.000000     5.354167   1,000.000000    6.425000%     6.425000%
 A-4   03215PAD1   1,000.000000     5.645833      0.000000     5.645833   1,000.000000    6.775000%     6.775000%
 A-5   03215PAE9   1,000.000000     5.875000      0.000000     5.875000   1,000.000000    7.050000%     7.050000%
 A-6   03215PAF6     654.556109     3.518876     40.183274    43.702150     614.372835    6.047970%     5.817500%
 B-IO                  0.000000     2.392546      0.000000     2.392546       0.000000    0.000000%     0.000000%
  R                    0.000000     0.000000      0.000000     0.000000       0.000000    0.000000%     0.000000%
                                                                                                     

DEPOSITOR:         AMRESCO Residential Securities Corporation   ADMINISTRATOR:               Timothy Lewis
SERVICERS:         Long Beach Mortgage/Option One Mortgage                               Bankers Trust Company
LEAD UNDERWRITER:  Prudential Securities Incorporated                                         3 Park Plaza
RECORD DATE:       December 31, 1996                                                        Irvine, CA 92714
DISTRIBUTION DATE: January 27, 1997                             FACTOR INFORMATION:          (800) 735-7777
</TABLE>
<TABLE>
                                        
                   AMRESCO Residential Securities Corporation
                               Mortgage Loan Trust
                                  Series 1996-1

                         Statement To Certificateholders
                                        
<CAPTION>                                        
Distribution Date:  January 27, 1997                                Group 1         Group 2          Totals
<S>                                                              <C>              <C>            <C>         
SERVICER ADVANCES:                                                                               
       INTEREST                                                      682,588.23      227,297.09      909,885.32
       PRINCIPAL                                                      40,227.03       10,312.78       50,539.81
                                                                                                               
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD:                         61,217.59       28,377.69       89,595.28
PLUS ADDITIONAL SERVICING COMPENSATION:                                    0.00            0.00            0.00
TOTAL SERVICING FEES DUE MASTER SERVICER:                             61,217.59       28,377.69       89,595.28
                                                                                                               
  LESS: AMOUNTS TO COVER INTEREST SHORTFALLS:                          4,559.42        6,190.18       10,749.60
  LESS: DELINQUENT SERVICE FEES:                                      32,636.52       10,292.96       42,929.48
                                                                                                               
COLLECTED SERVICING FEES FOR CURRENT PERIOD:                          24,021.65       11,894.55       35,916.20
                                                                       0.087369        0.043262        0.130631
                                                                                                 
BEGINNING NUMBER OF LOANS:                                                1,674             722           2,396
ENDING NUMBER OF LOANS:                                                   1,628             686           2,314
                                                                                                 
BEGINNING PRINCIPAL BALANCE OF POOL:                             146,922,211.48   68,106,444.71  215,028,656.19
ENDING PRINCIPAL BALANCE OF POOL:                                143,236,314.13   64,064,328.81  207,300,642.94
   GROUP FACTOR:                                                     82.153526%      63.686832%      75.397204%
                                                                                                               
LARGEST LOAN BALANCE:                                                477,781.36      396,462.13                
                                                                                                               
WEIGHTED AVERAGE TERM TO MATURITY:                                       334.63          341.41                
CURRENT WEIGHTED AVERAGE MORTGAGE RATE:                              10.855023%      11.312192%      10.999823%
NEXT WEIGHTED AVERAGE MORTGAGE RATE:                                 10.836819%      11.323973%      10.987369%
                                                                                                               
PRINCIPAL PREPAYMENTS:                                                                                         
   NUMBER OF LOANS (IF PAID IN FULL):                                        46              36              82
   PRINCIPAL BALANCE:                                              3,607,007.76    3,889,736.29    7,496,744.05
   AMOUNT PER $1000 CERTIFICATE:                                      57.954141       79.899273       27.266440
                                                                                                               
PREPAYMENT INTEREST SHORTFALL AMOUNT INCLUDED IN DISTRIBUTION:         4,559.42        6,190.18       10,749.60
NONCOVERED PREPAYMENT INTEREST SHORTFALL FOR THIS DISTRIBUTION:            0.00            0.00            0.00
                                                                                                               
AVAILABLE FUNDS:                                                   4,953,716.43    4,573,183.39    9,526,899.82
                                                                                                               
INSURED PAYAMENT:                                                          0.00            0.00            0.00
                                                                                                               
REMAINING PRE-FUNDING AMOUNT AVAILABLE (GROUP 1 ONLY)                      0.00                            0.00
                                                                                                               
</TABLE>

<TABLE>
                  AMRESCO Residential Securities Corporation
                           Mortgage Loan Trust
                            Series 1996-1


                      Statement To Certificateholders


Distribution Date:       January 27, 1997
<CAPTION>
                                                               GROUP 1              GROUP 2               TOTALS
<S>                                                             <C>                   <C>                  <C>   
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:                                                          
  SCHEDULED PRINCIPAL:                                             78,889.59             28,278.53           107,168.12
  PRINCIPAL PREPAYMENTS:                                        3,587,043.00          3,852,701.65         7,439,744.65
  CURTAILMENTS:                                                    19,964.76             37,034.64            56,999.40
  REPURCHASES:                                                          0.00                  0.00                 0.00
  LIQUIDATION PROCEEDS:                                                 0.00             41,838.92            41,838.92
  SUBORDINATION INCREASE AMOUNT:                                        0.00             82,262.16            82,262.16
PRE-FUNDED AMOUNTS DISTRIBUTED AS PREPAYMENTS:                          0.00                  0.00                 0.00
                                                                                                                       
                                                                3,685,897.35          4,042,115.90         7,728,013.25
                                                                                                   
<CAPTION>
DELINQUENT AND                                                                                LOANS          LOANS
FORECLOSURE LOAN              30 TO 59        60 TO 89          90             91+              IN             IN
INFORMATION                     DAYS            DAYS           DAYS            DAYS         BANKRUPTCY    FORECLOSURE
<S>                          <C>             <C>             <C>           <C>              <C>            <C>            
  GROUP 1 (Fixed Rate)                                                                                     
PRINCIPAL BALANCE            6,272,187.67    2,471,885.65    2,539,298.41   9,055,077.39    3,414,289.80   6,961,347.04
NUMBER OF LOANS                        60              34              27             96              41             70
                                    4.38%           1.73%           1.77%          6.32%           2.38%          4.86%
  GROUP 2 (Adjustable Rate)                                                                                
PRINCIPAL BALANCE            2,644,299.18    1,268,952.70      224,840.78   4,136,667.63    1,477,348.08   2,876,286.76
NUMBER OF LOANS                        35              13               3             38              15             26
                                    4.13%           1.98%           0.35%          6.46%           2.31%          4.49%
  TOTAL                                                                                                    
PRINCIPAL BALANCE            8,916,486.85    3,740,838.35    2,764,139.19  13,191,745.02    4,891,637.88   9,837,633.80
NUMBER OF LOANS                        95              47              30            134              56             96
                                    4.30%           1.80%           1.33%          6.36%           2.36%          4.75%
                                                                                                         
*Delinquencies are inclusive of Foreclosures, Bankruptcies and REO Property
<CAPTION>
                                                                  GROUP 1             GROUP 2             TOTALS
<S>                                                                <C>                   <C>             <C>
REO PROPERTY INFORMATION:                                                                            
  BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH FORECLOSURE:          1,635,145.49          711,602.43      2,346,747.92
  AGGREGATE PRINCIPAL BALANCE OF REO LOANS:                        1,657,674.96          679,675.07      2,337,350.03
  NUMBER OF REO LOANS:                                                       16                   7                23
                                                                                                     
NEW REO PROPERTIES:      TOTAL NUMBER:                 4
                                            DATE OF                                             SCH. PRIN.
     GROUP          LOAN NUMBER           ACQUISITION               BOOK VALUE                   BALANCE
              1             1865195                12/31/96                  122,118.17                 121,772.17
              1             1706670                12/18/95                   71,928.94                  71,740.92
              2             9162157                                          134,385.45                 132,776.11
              2             9186834                                           37,471.12                  31,358.79
                                                                                        
</TABLE>
                                        
<TABLE>
                   AMRESCO Residential Securities Corporation
                               Mortgage Loan Trust
                                  Series 1996-1
                                        
                         Statement To Certificateholders


Distribution Date:       January 27, 1997

LIQUIDATED LOANS:   TOTAL NUMBER:                         2  
                                          DATE OF        
   GROUP            LOAN NUMBER            SALE                BALANCE
        2             9168956            01/13/97            52,856.63
        2             9182973            12/18/96            71,244.45
<CAPTION>
                                                             GROUP 1      GROUP 2        TOTALS
<S>                                                        <C>          <C>           <C>  
SUBORDINATION AMOUNTS:                                                                
  SUBORDINATED AMOUNT after all payments and transfers     3,920,189.23 2,263,336.64  6,183,525.87
   REQUIRED SUBORDINATION AMOUNT:                          3,920,189.23 2,263,336.64  6,183,525.87
   EXCESS SUBORDINATION AMOUNT:                                    0.00         0.00          0.00
   SUBORDINATION DEFICIT:                                          0.00         0.00          0.00
                                                                                                  
UNREIMBURSED MONTHLY ADVANCES:                                     0.00       320.30        320.30
                                                                                                  
CUMULATIVE LOSS PERCENTAGE:                                   0.071144%    0.000000%              
90+ DELINQUENCY PERCENTAGE:                                   7.011294%    7.018114%              
                                                                                                  
INSURER PREMIUM AMOUNT:                                       17,875.25     8,230.39     26,105.64
TRUSTEE FEE AMOUNT:                                              153.04        70.94        223.98
                                                                                                  
REALIZED LOSS INFORMATION:                                                            
<CAPTION>
                                                             GROUP 1      GROUP 2        TOTAL
                    <S>                                      <C>           <C>
                    PRIOR REALIZED LOSSES:                   123,955.03    33,986.84    157,941.87
                      PLUS: CURRENT REALIZED LOSSES                0.00    82,262.16     82,262.16
                    CUMULATIVE REALIZED LOSSES:              123,955.03         0.00    240,204.03
                                                                                                  
           COPYRIGHT 1996 BANKERS TRUST COMPANY
</TABLE>


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