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 28, 1996
TRUST CREATED BY PRUDENTIAL SECURITIES SECURED
FINANCING CORPORATION
(under a Pooling & Servicing Agreement dated as of December
15, 1995, which Trust is the issuer of Commercial Mortgage
Pass-Through
Certificates, Series 1995-MCF-2)
================================
(Exact name of Registrant as specified in its Charter)
New York 33-58522-07 36-4055669
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Formation) File No.) Identification No.)
LaSalle National Bank, Trustee, 135 South LaSalle Street
Suite 200, Chicago, Illinois 60603
Attention: Asset-backed Securities (Zip Code)
PSSFC 1996 MCF-2
(Address of principal executive office)
Registrant's telephone number, including area code: (800) 246-5761
The Exhibit Index is on page 2.
Page - 1
<PAGE>
ITEM 5. OTHER EVENTS
Attached hereto is a copy of the May 28, 1996, Monthly Remittance
Statement provided to the Certificateholders by the Trustee.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
Monthly Remittance Statement to the Certificateholders dated as of
May 28, 1996.
Loan data file as of the May 1996 Determination Date.
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, thereunto duly authorized.
MIDLAND LOAN SERVICES, L.P., not in its individual
capacity but solely as a duly authorized agent of
the Registrant pursuant to Section 3.22 of the
Pooling & Servicing Agreement dated as of December
15, 1995
By: Midland Data Systems, Inc., its General
Partner
By: Lawrence D. Ashley
Title: Director of MBS Programs
Date: May 28, 1996
EXHIBIT INDEX
Sequential
Page Number
Document
Monthly Remittance Statement to the Certificateholders 3
dated as of May 28, 1996
Loan data file as of May 1996 22
Page - 2
ABN AMRO
LaSalle National Bank
Administrator:
Mary Collier (800) 246-5761
135 S. LaSalle Street Suite 200
Chicago, IL 60603
Prudential Securities Secured Financing Corporation
Midland Loan Services L.P. as Servicer
Lennar Partners, Inc. as Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1995-MCF-2
ABN AMRO Acct: 67-7442-30-3
Statement Date: 05/28/96
Payment Date: 05/28/96
Prior Payment: 04/25/96
Record Date: 04/30/96
WAC: 8.801526%
WAMM: 144
<TABLE>
<CAPTION>
Original Opening
Class Face Value (1) Balance
CUSIP Per $1,000 Per $1,000
<S> <C> <C>
A-1 ........... 75,000,000.00 73,957,372.41
74436JCT2 ..... 1000.000000 986.098299
A-2 ........... 65,040,000.00 65,040,000.00
74436JCU9 ..... 1000.000000 1000.000000
A-EC .......... 222,286,173.00N 221,243,545.41
74436JCV7 ..... 1000.000000 995.309526
B ............. 8,891,000.00 8,891,000.00
74436JCW5 ..... 1000.000000 1000.000000
C ............. 13,337,000.00 13,337,000.00
74436JCX3 ..... 1000.000000 1000.000000
D ............. 8,892,000.00 8,892,000.00
74436JCY1 ..... 1000.000000 1000.000000
E ............. 15,560,000.00 15,560,000.00
74436JCZ8 ..... 1000.000000 1000.000000
F ............. 5,557,000.00 5,557,000.00
74436JDA2 ..... 1000.000000 1000.000000
G ............. 12,226,000.00 12,226,000.00
74436JDB0 ..... 1000.000000 1000.000000
H ............. 11,114,000.00 11,114,000.00
74436JDDC8 .... 1000.000000 1000.000000
J-1 ........... 6,669,173.25 6,669,173.25
74436JDD6 ..... 1000.000000 1000.000000
J-2 ........... 6,669,173.25 N 6,669,173.25
74436JDE4 ..... 1000.000000 1000.000000
R ............. 0.00 0.00
74436JDF1 ..... 1000.000000 0.000000000
- ----- - ----------- -----------
222,286,173.25 221,243,545.66
============== ==============
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 3
<PAGE>
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 ............. 274,470.06 0 0
74436JCT2 ....... 3.659601 0 0
A-2 ............. 0 0 0
74436JCU9 ....... 0 0 0
A-EC ............ 0 0 0
74436JCV7 ....... 0 0 0
B ............... 0 0 0
74436JCW5 ....... 0 0 0
C ............... 0 0 0
74436JCX3 ....... 0 0 0
D ............... 0 0 0
74436JCY1 ....... 0 0 0
E ............... 0 0 0
74436JCZ8 ....... 0 0 0
F ............... 0 0 0
74436JDA2 ....... 0 0 0
G ............... 0 0 0
74436JDB0 ....... 0 0 0
H ............... 0 0 0
74436JDDC8 ...... 0 0 0
J-1 ............. 0 0 0
74436JDD6 ....... 0 0 0
J-2 ............. 0 0 0
74436JDE4 ....... 0 0 0
R ............... 0 0 0
74436JDF1 ....... 0 0 0
- ----- - - - -
274,470.06
==========
Total P&I Payment 1,853,977.38
============
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 ........... 73,682,902.35 402,143.21 0.00
74436JCT2 ..... 982.438698 5.361909 0.000000
A-2 ........... 65,040,000.00 370,728.00 0.00
74436JCU9 ..... 1000.000000 5.700000 0.000000
A-EC .......... 220,969,075.35 271,826.06 0.00
74436JCV7 ..... 994.074766 1.222865 0.000000
B ............. 8,891,000.00 51,160.30 0.00
74436JCW5 ..... 1000.000000 5.754167 0.000000
C ............. 13,337,000.00 77,965.88 0.00
74436JCX3 ..... 1000.000000 5.845833 0.000000
D ............. 8,892,000.00 53,092.65 0.00
74436JCY1 ..... 1000.000000 5.970833 0.000000
E ............. 15,560,000.00 98,676.33 0.00
74436JCZ8 ..... 1000.000000 6.341666 0.000000
F ............. 5,557,000.00 39,672.67 0.00
74436JDA2 ..... 1000.000000 7.139224 0.000000
G ............. 12,226,000.00 87,284.16 0.00
74436JDB0 ..... 1000.000000 7.139225 0.000000
H ............. 11,114,000.00 79,345.34 0.00
74436JDDC8 .... 1000.000000 7.139224 0.000000
J-1 ........... 6,669,173.25 0.00 0.00
74436JDD6 ..... 1000.000000 0.000000 0.000000
J-2 ........... 6,669,173.25 47,612.72 0.00
74436JDE4 ..... 1000.000000 7.139224 0.000000
R ............. 0.00 0.00 0.00
74436JDF1 ..... 0.000000
- ----- - --------
220,969,075.60 1,579,507.32 0.00
============== ============ ====
Page - 4
<PAGE>
<TABLE>
<CAPTION>
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
<S> <C>
A-1 ........... 6.525000%
74436JCT2 ..... Fixed
A-2 ........... 6.840000%
74436JCU9 ..... Fixed
A-EC .......... 1.474354%
74436JCV7 ..... 1.473687%
B ............. 6.905000%
74436JCW5 ..... Fixed
C ............. 7.015000%
74436JCX3 ..... Fixed
D ............. 7.165000%
74436JCY1 ..... Fixed
E ............. 7.610000%
74436JCZ8 ..... Fixed
F ............. 8.567069%
74436JDA2 ..... 8.567115%
G ............. 8.567069%
74436JDB0 ..... 8.567115%
H ............. 8.567069%
74436JDDC8 .... 8.567115%
J-1 ........... None
74436JDD6 ..... 0.000000%
J-2 ........... 8.567069%
74436JDE4 ..... 8.567115%
R ............. None
74436JDF1
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred
Interest equals Accrual
(3) Estimated
</FN>
</TABLE>
<TABLE>
<CAPTION>
Original Opening
Class Face Value (1) Balance
CUSIP Per $1,000 Per $1,000
<S> <C> <C>
A-L-1 ......... 75,000,000.00 73,957,372.41
None .......... 1000.000000 986.098299
A-L-2 ......... 65,040,000.00 65,040,000.00
None .......... 1000.000000 1000.000000
B-L ........... 8,891,000.00 8,891,000.00
None .......... 1000.000000 1000.000000
C-L ........... 13,337,000.00 13,337,000.00
None .......... 1000.000000 1000.000000
D-L ........... 8,892,000.00 8,892,000.00
None .......... 1000.000000 1000.000000
E-L ........... 15,560,000.00 15,560,000.00
None .......... 1000.000000 1000.000000
F-L ........... 5,557,000.00 5,557,000.00
None .......... 1000.000000 1000.000000
G-L ........... 12,226,000.00 12,226,000.00
None .......... 1000.000000 55.001172
H-L ........... 11,114,000.00 11,114,000.00
None .......... 1000.000000 1000.000000
J-L ........... 6,669,173.00 6,669,173.25
None .......... 1000.000000 1000.000037
LR ............ 0.00 0
74436JDG9 ..... 1000.000000 0.000000
- ----- - ----------- --------
222,286,173.00 221,243,545.66
============== ==============
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 5
<PAGE>
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
A-L-1 ......... 274,470.06 0.00 0.00
None .......... 3.659601 0.000000 0.000000
A-L-2 ......... 0.00 0.00 0.00
None .......... 0.000000 0.000000 0.000000
B-L ........... 0.00 0.00 0.00
None .......... 0.000000 0.000000 0.000000
C-L ........... 0.00 0.00 0.00
None .......... 0.000000 0.000000 0.000000
D-L ........... 0.00 0.00 0.00
None .......... 0.000000 0.000000 0.000000
E-L ........... 0.00 0.00 0.00
None .......... 0.000000 0.000000 0.000000
F-L ........... 0.00 0.00 0.00
None .......... 0.000000 0.000000 0.000000
G-L ........... 0.00 0.00 0.00
None .......... 0.000000 0.000000 0.000000
H-L ........... 0.00 0.00 0.00
None .......... 0.000000 0.000000 0.000000
J-L ........... 0.00 0.00 0.00
None .......... 0.000000 0.000000 0.000000
LR ............ 0.00 0.00 0.00
74436JDG9 ..... 0.000000 0.000000 0.000000
Total P&I Payment 274,470.06
==========
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
A-L-1 ......... 73,682,902.35 527,998.28 0.00
None .......... 982.438698 7.039977 0.000000
A-L-2 ......... 65,040,000.00 464,335.16 0.00
None .......... 1000.000000 7.139224 0.000000
B-L ........... 8,891,000.00 63,474.85 0.00
None .......... 1000.000000 7.139225 0.000000
C-L ........... 13,337,000.00 95,215.84 0.00
None .......... 1000.000000 7.139225 0.000000
D-L ........... 8,892,000.00 63,481.98 0.00
None .......... 1000.000000 7.139224 0.000000
E-L ........... 15,560,000.00 111,086.33 0.00
None .......... 1000.000000 7.139224 0.000000
F-L ........... 5,557,000.00 39,672.67 0.00
None .......... 1000.000000 7.139224 0.000000
G-L ........... 12,226,000.00 87,284.16 0.00
None .......... 55.001172 0.392666 0.000000
H-L ........... 11,114,000.00 79,345.34 0.00
None .......... 1000.000000 7.139224 0.000000
J-L ........... 6,669,173.25 47,612.71 0.00
None .......... 1000.000037 7.139223 0.000000
LR ............ 0 0 0
74436JDG9 ..... 0 0 0
- ----- - - - -
TOTAL 220,969,075.60 1,579,507.32
============== ============
Page - 6
<PAGE>
<TABLE>
<CAPTION>
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
<S> <C>
A-L-1 ......... 8.567069%
None .......... 8.567115%
A-L-2 ......... 8.567069%
None .......... 8.567115%
B-L ........... 8.567069%
None .......... 8.567115%
C-L ........... 8.567069%
None .......... 8.567115%
D-L ........... 8.567069%
None .......... 8.567115%
E-L ........... 8.567069%
None .......... 8.567115%
F-L ........... 8.567069%
None .......... 8.567115%
G-L ........... 8.567069%
None .......... 8.567115%
H-L ........... 8.567069%
None .......... 8.567115%
J-L ........... 8.567069%
None .......... 8.567115%
LR ............ None
74436JDG9 ..... 0
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred
Interest equals Accrual
(3) Estimated
</FN>
</TABLE>
P&I ADVANCE INCLUDED IN DISTRIBUTION
Class Amount Amt Per $1 000
A-1 ........... 0.00 0.000000
A-2 ........... 0.00 0.000000
A-EC .......... 0.00 0.000000
B ............. 0.00 0.000000
C ............. 0.00 0.000000
D ............. 0.00 0.000000
E ............. 0.00 0.000000
F ............. 0.00 0.000000
G ............. 0.00 0.000000
H ............. 15,457.38 0.001391
J-1 ........... NA 0.000000
J-2 ........... 47,612.72 0.007139
INTEREST SHORTFALL
Class Amount Amt Per $1 000
A-1 ........... 0.00 0.000000
A-2 ........... 0.00 0.000000
A-EC .......... 0.00 0.000000
B ............. 0.00 0.000000
C ............. 0.00 0.000000
D ............. 0.00 0.000000
E ............. 0.00 0.000000
F ............. 0.00 0.000000
G ............. 0.00 0.000000
H ............. 0.00 0.000000
J-1 ........... NA 0.000000
J-2 ........... 0.00 0.000000
Remittance Interes 1,579,507.32
Remittance Princip 274,470.06
Pooled Available F 1,853,977.38
Page - 7
<PAGE>
BEGINNING POOL
Balance Count
221,243,545.65 85
ENDING POOL
Balance Count
220,969,075.59 85
Servicing Fee 41,669.25
Additional Servicing Compensation 0.00
Special Servicing Fee 0.00
Disposition Fee 0.00
Prepayment Premiums Received 0.00
Default Interest 0.00
Net Default Interest 0.00
DELINQUENCY /PREPAYMENT / RATE HISTORY REPORTING
Distribution Delinq 1 Month Delinq 2 Months
Date # Balance # Balance
05/28/96 ...... 1 1,144,707.26 0 0
1.18% 0.517% 0 0
04/25/96 ...... 0 0.00 0 0
0.00% 0.000% 0 0
03/25/96 ...... 0 0.00 0 0
0.00% 0.000% 0 0
02/26/96 ...... 0 0.00 0 0
0.00% 0.000% 0 0
01/25/96 ...... 0 0.00 0 0
0.00% 0.000% 0 0
Distribution Delinq 3+ Months
Date # Balance
05/28/96 0 0
04/25/96 0 0
03/25/96 0 0
02/26/96 0 0
01/25/96 0 0
<TABLE>
<CAPTION>
Distribution Foreclosure (1)/ Bankruptcy REO(1)
Date # Balance # Balance
<S> <C> <C> <C> <C>
05/28/96 ...... 0 0 0 0
04/25/96 ...... 0 0 0 0
03/25/96 ...... 0 0 0 0
02/26/96 ...... 0 0 0 0
01/25/96 ...... 0 0 0 0
<FN>
(1) Foreclosure and REO Totals are Included in the
Appropriate Delinquency Aging Category
</FN>
</TABLE>
Distribution Modifications
Date # Balance
05/28/96 0 0
04/25/96 0 0
03/25/96 0 0
02/26/96 0 0
01/25/96 0 0
Distribution Prepayments Next Weighted Avg.
Date # Balance Coupon
05/28/96 ...... 0 0 8.80158%
04/25/96 ...... 0 0 8.80153%
03/25/96 ...... 0 0 8.80147%
02/26/96 ...... 0 0 8.80142%
01/25/96 ...... 0 0 8.80137%
Page - 8
<PAGE>
Distribution Next Weighted Avg.
Date Remit
05/28/96 8.5671%
04/25/96 8.5671%
03/25/96 8.5670%
02/26/96 8.5670%
01/25/96 8.5669%
DELINQUENCY LOAN DETAIL
Paid
Disclosure Doc Thru Current P&I
Control # Period Date Advance
940901620 199604 04/01/96 23,999.81
940900480 199604 04/01/96 14,445.90
940902047 199604 04/01/96 15,290.97
940902048 199604 03/01/96 9,333.43
- --------- ------ -- -- -- --------
TOTALS: 63,070.11
=========
<TABLE>
<CAPTION>
Outstanding
Outstanding Property
Disclosure Doc P&I Protection
Control # Period Advances(1) Advances
<S> <C> <C> <C>
940901620 199604 23,999.81 0
940900480 199604 14,445.90 0
940902047 199604 15,290.97 0
940902048 199604 18,666.63 0
- --------- ------ --------- -
TOTALS: 72,403.31 0
========= =
<FN>
(1) Outstanding P&I Advances include the current period P&I Advance
</FN>
</TABLE>
<TABLE>
<CAPTION>
Special
Servicer
Disclosure Doc Advance Loan Transfer
Control # Description (1) Status (2) Date
<S> <C> <C> <C>
940901620 B 0 0
940900480 B 0 0
940902047 B 0 0
940902048 1 0 0
- --------- - - -
TOTALS: . 0 0 0
= = =
<FN>
(1) Advance Description:
A. P&I Advance - Loan in Grace Period
B. P&I Advance - Late Payment but less one month delinq
1. P&I Advance - Loan delinquent 1 month
2. P&I Advance - Loan delinquent 2 months
3. P&I Advance - Loan delinquent 3 months
(2) Loan Status:
1. Specially Serviced
2. Foreclosure
3. Bankruptcy
4. REO
5. Prepaid in Full
6. DPO
7. Foreclosure Sale
8. Bankruptcy Sale
9. REO Disposition
10. Modification/Workout
</FN>
</TABLE>
Disclosure Doc Foreclosure Bankruptcy REO
Control # Date Date Date
940901620 0 0 0
940900480 0 0 0
940902047 0 0 0
940902048 0 0 0
TOTALS: 0 0 0
Page - 9
<PAGE>
DISTRIBUTION OF PRINCIPAL BALANCES
Current Scheduled Number
Principal Balances of Loans
0 to 500,000 ................. 0
500,000 to 750,000 ........... 5
750,000 to 1,000,000 ......... 7
1,000,000 to 1,250,000 ....... 6
1,250,000 to 1,500,000 ....... 13
1,500,000 to 1,750,000 ....... 6
1,750,000 to 2,000,000 ....... 3
2,000,000 to 2,500,000 ....... 10
2,500,000 to 3,000,000 ....... 10
3,000,000 to 3,500,000 ....... 5
3,500,000 to 4,000,000 ....... 6
4,000,000 to 4,500,000 ....... 4
4,500,000 to 5,000,000 ....... 1
5,000,000 to 5,500,000 ....... 2
5,500,000 to 6,000,000 ....... 0
6,000,000 to 6,500,000 ....... 2
6,500,000 to 7,000,000 ....... 2
7,000,000 to 7,500,000 ....... 1
7,500,000 to 8,000,000 ....... 0
8,000,000 & above ............ 2
- --------- -
Total ........................ 85
==
Average Scheduled Balance is 2,599,636.18
Maximum Scheduled Balance is 8,218,155.75
Minimum Scheduled Balance is 594,872.08
Current Scheduled Scheduled
Principal Balances Principal Balance
0 to 500,000 ................. 0.00
500,000 to 750,000 ........... 3,435,873.16
750,000 to 1,000,000 ......... 6,146,914.26
1,000,000 to 1,250,000 ....... 6,829,773.52
1,250,000 to 1,500,000 ....... 17,873,375.03
1,500,000 to 1,750,000 ....... 10,059,269.56
1,750,000 to 2,000,000 ....... 5,661,736.65
2,000,000 to 2,500,000 ....... 22,120,904.77
2,500,000 to 3,000,000 ....... 27,589,961.75
3,000,000 to 3,500,000 ....... 16,130,322.35
3,500,000 to 4,000,000 ....... 22,678,649.27
4,000,000 to 4,500,000 ....... 17,597,011.53
4,500,000 to 5,000,000 ....... 4,724,281.95
5,000,000 to 5,500,000 ....... 10,757,051.48
5,500,000 to 6,000,000 ....... 0.00
6,000,000 to 6,500,000 ....... 12,497,454.37
6,500,000 to 7,000,000 ....... 13,233,749.54
7,000,000 to 7,500,000 ....... 7,330,116.89
7,500,000 to 8,000,000 ....... 0.00
8,000,000 & above ............ 16,302,629.51
- --------- -------------
Total ........................ 220,969,075.59
==============
Current Scheduled Based on
Principal Balances Balance
0 to 500,000 ................. 0.00%
500,000 to 750,000 ........... 1.55%
750,000 to 1,000,000 ......... 2.78%
1,000,000 to 1,250,000 ....... 3.09%
1,250,000 to 1,500,000 ....... 8.09%
1,500,000 to 1,750,000 ....... 4.55%
1,750,000 to 2,000,000 ....... 2.56%
2,000,000 to 2,500,000 ....... 10.01%
2,500,000 to 3,000,000 ....... 12.49%
3,000,000 to 3,500,000 ....... 7.30%
3,500,000 to 4,000,000 ....... 10.26%
4,000,000 to 4,500,000 ....... 7.96%
4,500,000 to 5,000,000 ....... 2.14%
5,000,000 to 5,500,000 ....... 4.87%
5,500,000 to 6,000,000 ....... 0.00%
6,000,000 to 6,500,000 ....... 5.66%
6,500,000 to 7,000,000 ....... 5.99%
7,000,000 to 7,500,000 ....... 3.32%
7,500,000 to 8,000,000 ....... 0.00%
8,000,000 & above ............ 7.38%
- --------- ----
Total ........................ 100.00%
======
Page - 10
<PAGE>
DISTRIBUTION OF PROPERTY TYPES
Number Scheduled Based on
Property Types of Loans Principal Balance Balance
Retail ........... 31 96,433,643.75 43.64%
Multi-Family Housi 22 46,504,156.61 21.05%
Light Industrial . 9 17,080,949.04 7.73%
Office ........... 7 13,790,574.75 6.24%
Congregate Care .. 3 12,998,106.72 5.88%
Office/Retail .... 2 10,114,017.11 4.58%
Office/Multi-Fam\R 1 7,330,116.89 3.32%
Self Service Stora 3 4,097,205.03 1.85%
Mobile Home Park . 2 3,629,692.75 1.64%
Ind./Warehouse/Off 2 3,110,061.25 1.41%
Hospitality ...... 1 2,954,286.62 1.34%
Other ............ 2 2,926,265.07 1.32%
- ------------ ----
Total ............ 85 220,969,075.59 100.00%
== ============== ======
<TABLE>
DISTRIBUTION OF MORTGAGE INTEREST RATES
<CAPTION>
Current Mortgage Number
Interest Rate (1) of Loans
<S> <C>
7.500%or less . 0
7.501%to 7.750% 0
7.751%to 8.000% 3
8.001%to 8.250% 6
8.251%to 8.500% 10
8.501%to 8.750% 14
8.751%to 9.000% 16
9.001%to 9.250% 15
9.251%to 9.500% 8
9.501%to 9.750% 10
9.751%to 10.000% 2
10.001%to 10.250% 1
10.251%to 10.500% 0
10.501%to 10.750% 0
10.751%& above 0
- ------ -
Total ......... 85
==
<FN>
(1) Weighted Average Mortgage Interest 8.8016%
Minimum Mortgage Interest Rate is 7.8900%
Maximum Mortgage Interest Rate is 10.0600%
</FN>
</TABLE>
<TABLE>
<CAPTION>
Current Mortgage Scheduled
Interest Rate (1) Principal Balance
<S> <C>
7.500%or less . 0
7.501%to 7.750% 0
7.751%to 8.000% 13,377,101.74
8.001%to 8.250% 23,989,998.88
8.251%to 8.500% 25,233,720.45
8.501%to 8.750% 52,012,978.26
8.751%to 9.000% 27,757,052.91
9.001%to 9.250% 31,963,905.39
9.251%to 9.500% 18,564,945.38
9.501%to 9.750% 22,903,460.11
9.751%to 10.000% 4,026,314.04
10.001%to 10.250% 1,139,598.43
10.251%to 10.500% 0
10.501%to 10.750% 0
10.751%& above 0
- ------ -
Total ......... 220,969,075.59
==============
<FN>
(1) Weighted Average Mortgage Interest 8.8016%
Minimum Mortgage Interest Rate is 7.8900%
Maximum Mortgage Interest Rate is 10.0600%
</FN>
</TABLE>
Page - 11
<PAGE>
<TABLE>
<CAPTION>
Current Mortgage Based on
Interest Rate (1) Balance
<S> <C>
7.500%or less . 0
7.501%to 7.750% 0.00%
7.751%to 8.000% 6.05%
8.001%to 8.250% 10.86%
8.251%to 8.500% 11.42%
8.501%to 8.750% 23.54%
8.751%to 9.000% 12.56%
9.001%to 9.250% 14.47%
9.251%to 9.500% 8.40%
9.501%to 9.750% 10.37%
9.751%to 10.000% 1.82%
10.001%to 10.250% 0.52%
10.251%to 10.500% 0.00%
10.501%to 10.750% 0.00%
10.751%& above 0.00%
- ------ ----
Total ......... 100.00%
======
<FN>
(1) Weighted Average Mortgage Interest 8.8016%
Minimum Mortgage Interest Rate is 7.8900%
Maximum Mortgage Interest Rate is 10.0600%
</FN>
</TABLE>
GEOGRAPHIC DISTRIBUTION
Number Scheduled
Geographic Location of Loans Principal Balance
California 11 37,009,452.45
Texas 14 31,191,213.44
Massachusetts 4 19,458,853.74
Florida 5 18,614,585.43
New York 5 15,264,939.35
Tennessee 2 9,413,121.03
District of Columb 2 9,215,696.07
Minnesota 5 8,704,894.90
Oklahoma 4 8,302,831.00
Virginia 2 5,795,279.00
Maryland 2 5,792,620.22
Louisiana 2 5,196,704.60
Colorado 3 4,374,278.76
Rhode Island 1 3,967,322.97
Arkansas 1 3,866,220.59
Missouri 2 3,854,553.27
Indiana 2 3,549,855.10
New Jersey 2 3,134,052.47
New Mexico 2 3,024,645.26
Nebraska 1 2,776,641.82
Kentucky 1 2,772,520.37
Arizona 2 2,588,348.15
Michigan 1 2,561,699.10
Kansas 1 2,239,644.64
Alaska 1 1,660,976.45
Ohio 2 1,489,096.31
Illinois 1 1,362,290.03
Washington 1 1,293,807.19
Mississippi 1 989,850.22
Connecticut 1 783,838.95
New Hampshire 1 719,242.71
- ----------
Total 85 220,969,075.59
== ==============
Page - 12
<PAGE>
Based on
Geographic Location Balance
California 16.75%
Texas 14.12%
Massachusetts 8.81%
Florida 8.42%
New York 6.91%
Tennessee 4.26%
District of Columb 4.17%
Minnesota 3.94%
Oklahoma 3.76%
Virginia 2.62%
Maryland 2.62%
Louisiana 2.35%
Colorado 1.98%
Rhode Island 1.80%
Arkansas 1.75%
Missouri 1.74%
Indiana 1.61%
New Jersey 1.42%
New Mexico 1.37%
Nebraska 1.26%
Kentucky 1.25%
Arizona 1.17%
Michigan 1.16%
Kansas 1.01%
Alaska 0.75%
Ohio 0.67%
Illinois 0.62%
Washington 0.59%
Mississippi 0.45%
Connecticut 0.35%
New Hampshire 0.33%
----
Total 100.00%
======
LOAN SEASONING
Number Scheduled Based on
Number of Years of Loans Principal Balance Balance
1 year or less ..... 84 214,272,559.96 96.97%
1+ to 2 years ...... 0 0.00 0.00%
2+ to 3 years ...... 1 6,696,515.63 3.03%
3+ to 4 years ...... 0 0.00 0.00%
4+ to 5 years ...... 0 0.00 0.00%
5+ to 6 years ...... 0 0.00 0.00%
6+ to 7 years ...... 0 0.00 0.00%
7+ to 8 years ...... 0 0.00 0.00%
8+ to 9 years ...... 0 0.00 0.00%
9+ to 10 years ..... 0 0.00 0.00%
10 years or more ... 0 0.00 0.00%
- -- - ---- ----
Total .............. 85 220,969,075.59 100.00%
== ============== ======
Weighted Average Seasoning is 49.3878%
DISTRIBUTION OF AMORTIZATION TYPE
Scheduled
Number Principal Based on
Amortization Type of Loans Balance Balance
Fully Amortizing ........ 9 26,398,218.89 11.95%
Amortizing Balloon ...... 76 194,570,856.70 88.05%
----- --------------- --------
Total ................... 85 220,969,075.59 100.00%
===== =============== ========
Page - 13
<PAGE>
DISTRIBUTION OF REMAINING TERM
FULLY AMORTIZING
Fully Amortizing Number Scheduled Based on
Mortgage Loans of Loans Principal Balance Balance
60 months or less .. 0 0 0.00%
61 to 120 months ... 0 0 0.00%
121 to 180 months .. 4 6,264,890.93 2.84%
181 to 240 months .. 5 20,133,327.96 9.11%
241 to 360 months .. 0 0.00 0.00%
- -------------------- -- --------------- --------
Total .............. 9 26,398,218.89 11.95%
== =============== ========
Weighted Average Months to Maturity is 202
DISTRIBUTION OF REMAINING TERM
BALLOON LOANS
Balloon Number Scheduled Based on
Mortgage Loans of Loans Principal Balance Balance
- ------------------------------ --- --------------- -----------
12 months or less ............ 0 0 0.00000000
13 to 24 months .............. 0 0 0.00%
25 to 36 months .............. 0 0 0.00%
37 to 48 months .............. 0 0 0.00%
49 to 60 months .............. 1 4,724,281.95 2.14%
61 to 120 months ............. 24 71,956,753.05 32.56%
121 to 180 months ............ 51 117,889,821.70 53.35%
181 to 240 months ............ 0 0.00 0.00%
- ------------------------------ --- --------------- -----------
Total ........................ 76 194,570,856.70 88.05%
=== =============== ===========
Weighted Average Months to Maturity is 180
<TABLE>
DISTRIBUTION OF DSCR
<CAPTION>
Debt Service Number
Coverage Ratio (1) of Loans
- -------------------- --------
<S> <C>
1.000%or less 0
1.001%to 1.125% .... 0
1.126%to 1.250% .... 10
1.251%to 1.375% .... 42
1.376%to 1.500% .... 23
1.501%to 1.625% .... 7
1.626%to 1.750% .... 1
1.751%to 1.875% .... 2
1.876%to 2.000% .... 0
2.001%to 2.125% .... 0
2.126%to 2.250% .... 0
2.251%to 2.375% .... 0
2.376%to 2.500% .... 0
2.501%to 2.625% .... 0
2.626%& above ...... 0
Unknown ............ 0
---
Total .............. 85
==================== ===
<FN>
(1) Debt Service Coverage Ratios are calculated as described in the prospectus,
values are updated periodically as new NOI figures became available from
borrowers on an asset level. Neither the Trustee, Servicer, Special Servicer
or Underwriter makes any representation as to the accuracy of the data provided
by the borrower for this calculation.
</FN>
</TABLE>
Weighted Average Debt Service Coverage Ratio is 0.013691
Page - 14
<PAGE>
<TABLE>
DISTRIBUTION OF DSCR
<CAPTION>
Debt Service Scheduled
Coverage Ratio (1) Principal Balance
<S> <C>
1.000%or less ...... 0
1.001%to 1.125% .... 0
1.126%to 1.250% .... 27,871,959.23
1.251%to 1.375% .... 102,823,116.13
1.376%to 1.500% .... 56,401,162.20
1.501%to 1.625% .... 30,081,931.00
1.626%to 1.750% .... 1,144,707.26
1.751%to 1.875% .... 2,646,199.77
1.876%to 2.000% .... 0.00
2.001%to 2.125% .... 0.00
2.126%to 2.250% .... 0.00
2.251%to 2.375% .... 0.00
2.376%to 2.500% .... 0.00
2.501%to 2.625% .... 0.00
2.626%& above ...... 0.00
Unknown ............ 0.00
- -------------------- ---------------
Total .............. 220,969,075.59
===============
<FN>
(1) Debt Service Coverage Ratios are calculated as described in the prospectus,
values are updated periodically as new NOI figures became available from
borrowers on an asset level. Neither the Trustee, Servicer, Special Servicer
or Underwriter makes any representation as to the accuracy of the data provided
by the borrower for this calculation.
</FN>
</TABLE>
<TABLE>
DISTRIBUTION OF DSCR
<CAPTION>
Debt Service Based on
Coverage Ratio (1) Balance
<S> <C>
1.000%or less ........... 0
1.001%to 1.125% ......... 0
1.126%to 1.250% ......... 12.61%
1.251%to 1.375% ......... 46.53%
1.376%to 1.500% ......... 25.52%
1.501%to 1.625% ......... 13.61%
1.626%to 1.750% ......... 0.52%
1.751%to 1.875% ......... 1.20%
1.876%to 2.000% ......... 0.00%
2.001%to 2.125% ......... 0.00%
2.126%to 2.250% ......... 0.00%
2.251%to 2.375% ......... 0.00%
2.376%to 2.500% ......... 0.00%
2.501%to 2.625% ......... 0.00%
2.626%& above ........... 0.00%
Unknown ................. 0.00%
--------
Total ................... 100.00%
========
<FN>
(1) Debt Service Coverage Ratios are calculated as described in the prospectus,
values are updated periodically as new NOI figures became available from
borrowers on an asset level. Neither the Trustee, Servicer, Special Servicer
or Underwriter makes any representation as to the accuracy of the data provided
by the borrower for this calculation.
</FN>
</TABLE>
NOI AGING
Number
NOI Date ...... of Loans
1 year or less 61
1+ to 2 years . 6
2+ & above .... 18
Unknown ....... 0
--------
Total ......... 85
========
Scheduled
NOI Date Principal Balance
1 year or less 133,335,483.73
1+ to 2 years . 13,754,796.09
2+ & above .... 73,878,795.77
Unknown ....... 0.00
--------------
Total ......... 220,969,075.59
==============
Page - 15
<PAGE>
Based on
NOI Date Balance
1 year or less 60.34%
1+ to 2 years . 6.22%
2+ & above .... 33.43%
Unknown ....... 0.00%
--------
Total ......... 100.00%
========
LOAN LEVEL DETAIL
Offering Spec. Servicer
Circular Property Transfer
Control # Type Date State
1 Retail / MA
2 Retail / MA
3 Restaurant / DC
4 Multi-Family Housing / NY
5 Restaurant / FL
6 Restaurant / TN
7 Retail / CA
8 Retail / TX
9 Multi-Family Housing / TX
10 Multi-Family Housing / OK
11 Office / CA
12 Retail / CA
13 Restaurant / CA
14 Retail / CA
15 Retail / RI
16 Retail / TX
17 Retail / AR
18 Retail / LA
19 Restaurant / VA
20 Restaurant / MD
21 Retail / CA
22 Multi-Family Housing / TX
23 Retail / FL
24 Retail / FL
25 Retail / FL
26 Hospitality / TN
27 Retail / CA
28 Restaurant / NY
29 Retail / NE
30 Multi-Family Housing / MO
31 Multi-Family Housing / KY
32 Multi-Family Housing / NY
33 Restaurant / FL
34 Office / MN
35 Retail / MI
36 Retail / CA
37 Retail / MN
38 Restaurant / CO
39 Multi-Family Housing / KS
40 Restaurant / MD
41 Restaurant / MN
42 Retail / VA
43 Retail / NY
44 Retail / TX
45 Retail / MA
46 Office / IN
47 Restaurant / NM
48 Self Service Storage / DC
49 Retail / NJ
50 Office / CA
51 Restaurant / AZ
52 Retail / AK
53 Multi-Family Housing / IN
54 Retail / CA
55 Multi-Family Housing / OK
56 Restaurant / TX
57 Multi-Family Housing / LA
58 Restaurant / OK
59 Office / TX
60 Multi-Family Housing / NJ
61 Retail / IL
62 Restaurant / TX
63 Multi-Family Housing / TX
64 Multi-Family Housing / TX
65 Restaurant / CO
66 Retail / WA
67 Multi-Family Housing / TX
68 Restaurant / CA
69 Multi-Family Housing / TX
70 Multi-Family Housing / MA
71 Self Service Storage / NM
72 Self Service Storage / MO
73 Retail / TX
74 Multi-Family Housing / MS
75 Office / AZ
76 Restaurant / NY
77 Restaurant / OH
78 Restaurant / TX
79 Office / MN
80 Retail / CT
81 Multi-Family Housing / CO
82 Retail / MN
83 Multi-Family Housing / NH
84 Multi-Family Housing / OK
85 Multi-Family Housing / OH
Page - 16
<PAGE>
Offering Beginning
Circular Maturity Scheduled Note
Control # Date Balance Rate
1 01/01/2011 8,226,202.19 8.59%
2 01/01/2011 8,092,389.31 8.59%
3 11/01/2015 7,341,976.64 8.75%
4 11/01/2005 6,704,924.80 8.35%
5 12/01/2005 6,539,823.34 8.51%
6 11/01/2002 6,465,810.96 8.08%
7 10/01/2010 6,043,939.42 9.39%
8 01/01/2003 5,452,209.11 8.05%
9 12/01/2002 5,326,865.80 7.89%
10 12/01/2000 4,729,493.28 7.90%
11 01/01/2008 4,486,976.72 8.57%
12 10/01/2010 4,447,145.53 9.39%
13 11/01/2012 4,349,399.61 8.20%
14 11/01/2010 4,336,019.60 9.23%
15 11/01/2011 3,973,950.09 8.42%
16 12/01/2007 3,885,384.31 8.77%
17 09/01/2010 3,870,557.24 9.24%
18 12/01/2005 3,720,603.69 8.65%
19 11/01/2002 3,677,429.98 8.20%
20 10/01/2005 3,580,174.19 8.94%
21 11/01/2010 3,407,614.32 8.30%
22 12/01/2002 3,335,514.11 7.89%
23 08/01/2010 3,206,255.31 9.57%
24 08/01/2010 3,176,429.68 9.57%
25 08/01/2010 3,019,845.08 9.57%
26 06/01/2010 2,958,615.72 9.93%
27 10/01/2010 2,925,977.04 8.64%
28 12/01/2014 2,870,393.13 9.55%
29 12/01/2005 2,781,377.69 8.25%
30 10/01/2005 2,785,079.34 9.14%
31 09/01/2010 2,776,046.83 9.10%
32 12/01/2005 2,690,241.02 8.99%
33 10/01/2007 2,685,421.20 9.06%
34 09/01/2010 2,585,013.14 9.62%
35 11/01/2005 2,566,073.78 8.31%
36 12/01/2007 2,490,569.18 8.73%
37 09/06/2007 2,385,532.17 9.35%
38 12/01/2002 2,344,420.22 8.31%
39 12/01/2002 2,241,746.43 8.90%
40 11/01/2010 2,221,646.06 9.70%
41 10/01/2007 2,188,160.06 9.08%
42 10/01/2005 2,123,679.16 9.17%
43 08/01/2005 2,122,044.84 9.08%
44 11/01/2007 2,015,832.35 9.00%
45 09/01/2010 2,013,249.63 9.58%
46 12/01/2007 1,892,914.59 8.80%
47 12/01/2007 1,888,080.93 8.72%
48 12/01/2010 1,888,506.65 9.01%
49 11/01/2007 1,746,856.14 8.85%
50 12/01/2007 1,693,702.00 8.84%
51 11/01/2010 1,676,065.51 8.45%
52 09/01/2010 1,663,421.66 9.66%
53 09/01/2010 1,660,831.01 9.18%
54 12/01/2011 1,634,924.88 9.39%
55 12/01/2010 1,493,998.45 8.37%
56 11/01/2010 1,488,150.68 8.69%
57 12/01/2007 1,486,000.56 8.62%
58 09/01/2010 1,441,752.59 9.70%
59 08/01/2005 1,405,164.65 9.32%
60 09/01/2005 1,390,137.26 9.24%
61 07/01/2010 1,366,191.32 9.17%
62 09/01/2007 1,341,588.82 9.15%
63 12/01/2010 1,309,731.61 8.15%
64 11/01/2010 1,318,871.66 8.87%
65 12/01/2002 1,291,417.93 8.31%
66 12/01/2007 1,295,063.69 8.69%
67 12/01/2007 1,270,338.38 8.92%
68 09/01/2007 1,237,222.29 9.38%
69 11/01/2010 1,194,198.84 8.60%
70 12/01/2005 1,145,781.51 8.90%
71 09/01/2010 1,141,194.30 10.06%
72 07/01/2010 1,074,928.48 9.83%
73 12/01/2007 1,046,084.39 8.80%
74 07/01/2005 990,897.39 8.41%
75 08/01/2007 918,066.83 8.86%
76 11/01/2007 895,754.59 8.75%
77 10/01/2007 895,067.89 8.97%
78 12/01/2010 846,824.97 8.79%
79 12/01/2010 821,752.51 8.47%
80 08/01/2010 784,544.98 9.36%
81 09/01/2007 745,280.77 9.09%
82 09/01/2007 732,706.84 9.67%
83 08/01/2003 719,902.23 9.25%
84 09/01/2005 646,113.93 9.40%
85 08/01/2007 595,458.64 8.80%
- -- -- -- ---- ---------- ----
221,243,545.65 0.00%
============== ====
Page - 17
<PAGE>
Offering Scheduled
Circular Principal Prepayments Prepayment
Control # Payment /Liquidations Date
1 8,046.44 0.00
2 7,915.55 0.00
3 11,859.75 0.00
4 8,409.17 0.00
5 2,589.43 0.00
6 6,976.55 0.00
7 5,319.46 0.00
8 16,144.50 0.00
9 5,878.93 0.00
10 5,211.33 0.00
11 4,403.25 0.00
12 3,914.08 0.00
13 10,328.48 0.00
14 3,884.12 0.00
15 6,627.12 0.00
16 3,720.93 0.00
17 4,336.65 0.00
18 7,481.99 0.00
19 3,892.55 0.00
20 3,390.99 0.00
21 3,549.62 0.00
22 3,681.19 0.00
23 2,763.91 0.00
24 2,738.20 0.00
25 2,603.23 0.00
26 4,329.10 0.00
27 2,909.09 0.00
28 4,658.25 0.00
29 4,735.87 0.00
30 2,553.49 0.00
31 3,526.46 0.00
32 2,485.61 0.00
33 2,494.41 0.00
34 2,210.18 0.00
35 4,374.68 0.00
36 2,400.74 0.00
37 2,131.75 0.00
38 3,962.61 0.00
39 2,101.79 0.00
40 5,809.04 0.00
41 2,025.91 0.00
42 1,937.59 0.00
43 1,998.25 0.00
44 1,874.99 0.00
45 1,732.66 0.00
46 1,803.95 0.00
47 3,034.10 0.00
48 2,927.47 0.00
49 1,664.99 0.00
50 1,603.60 0.00
51 4,888.50 0.00
52 2,445.21 0.00
53 2,086.55 0.00
54 3,842.79 0.00
55 1,526.64 0.00
56 2,421.60 0.00
57 2,417.66 0.00
58 1,216.60 0.00
59 1,272.77 0.00
60 1,275.94 0.00
61 2,309.26 1,592.03 05/10/04
62 1,238.53 0.00
63 3,882.13 0.00
64 1,252.98 0.00
65 2,182.79 0.00
66 1,256.50 0.00
67 1,187.14 0.00
68 1,882.91 0.00
69 1,185.29 0.00
70 1,074.25 0.00
71 1,595.87 0.00
72 2,901.06 0.00
73 996.91 0.00
74 1,047.17 0.00
75 895.69 0.00
76 867.75 0.00
77 843.66 0.00
78 808.35 0.00
79 826.25 0.00
80 706.03 0.00
81 694.76 0.00
82 1,075.73 0.00
83 659.52 0.00
84 572.68 0.00
85 586.56 0.00
- -- ------ ----
TOTAL 272,878.03 1,592.03
========== ========
Page - 18
<PAGE>
<TABLE>
<CAPTION>
Offering Paid Prepayment Loan
Circular Through Premium Status
Control # Date Amount Code (1)
<S> <C> <C> <C>
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
<FN>
(1) Legend:
1) Specially Serviced
2) Foreclosure
3) Bankruptcy
4) REO
5) Prepay in Full
6) DPO
7) Foreclosure Sale
8) Bankruptcy Sale
9) REO Disposition
10) Modification/Workout
</FN>
</TABLE>
Page - 19
<PAGE>
SPECIALLY SERVICED LOAN DETAIL
No specially serviced mortgage loans as of the current Due Date.
Offering Sched Sched
Distribution Circular Principal Interest
Date Control # Balance Rate
Distribution Maturity Property
Date Date Type State
Distribution Date of last Net Operating Debt Service
Date Operating Stmt Income Coverage Ratio
<TABLE>
<CAPTION>
Specially
Distribution Serviced
Date Status Code (1)
<S> <C>
<FN>
(1) Legend :
1) Request for waiver of Prepayment Penalty
2) Payment default
3) Request for Loan Modification or Workout
4) Loans with Borrower Bankruptcy
5) Loans in Process of Foreclosure
6) Loans now REO Property
7) Loans Paid Off
8) Loans Returned to Master Servicer
</FN>
</TABLE>
MODIFIED LOAN DETAIL
No modified loans as of the current Due Date.
Offering
Distribution Circular Modification Modification
Date Control # Date Description
REALIZED LOSS DETAIL
No Realized Loss loans as of the current Due Date.
Offering
Distribution Circular Appraisal Appraisal Value/
Date Control # Date Brokers Estimate
Current Total
Cumulative
Offering Sched
Distribution Circular Principal Gross
Date Control # Balance Proceeds
Current Total
Cumulative
<TABLE>
<CAPTION>
Gross Proceeds Aggregate Net
Distribution as a % of Liquidation Liquidation
Date Sched Principal Expenses (1) Proceeds
<S> <C> <C> <C>
Current Total
Cumulative
<FN>
(1) Aggregate liquidation expenses also include outstanding
P&I advances and unpaid servicing fees, unpaid special
servicing fees, unpaid trustee fees, etc..
</FN>
</TABLE>
Page - 20
<PAGE>
Net Proceeds Current
Distribution as a % of Realized
Date Sched. Balance Loss
Current Total
Cumulative
Page - 21
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN STATUS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: MAY, 1996
DATE PRINTED: 29-MAY-96
<CAPTION>
CURRENT
ASSET PRINCIPAL DAYS ENVIRON
NO BALANCE DELINQ LTV DSCR ISSUES ASSET STATUS RESOLUTION TYPE
- ----- --------- ------ ----- ----- ----- -------------------------- -------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
01 8,218,156 0 67.4% 1.52 N/A PERFORMING PERFORM TO MATURITY
02 8,084,474 0 51.8% 1.38 N/A PERFORMING PERFORM TO MATURITY
03 7,330,117 0 65.4% 1.33 N/A PERFORMING PERFORM TO MATURITY
04 6,696,516 0 53.8% 1.54 N/A PERFORMING PERFORM TO MATURITY
05 6,537,234 0 68.8% 1.49 N/A PERFORMING PERFORM TO MATURITY
06 6,458,834 0 57.2% 1.59 N/A PERFORMING PERFORM TO MATURITY
07 6,038,620 0 68.3% 1.37 N/A PERFORMING PERFORM TO MATURITY
08 5,436,065 0 59.4% 1.22 N/A PERFORMING PERFORM TO MATURITY
09 5,320,987 0 72.9% 1.39 N/A PERFORMING PERFORM TO MATURITY
10 4,724,282 0 70.5% 1.32 N/A PERFORMING PERFORM TO MATURITY
11 4,482,573 0 72.3% 1.48 N/A PERFORMING PERFORM TO MATURITY
12 4,443,231 0 64.4% 1.41 N/A PERFORMING PERFORM TO MATURITY
13 4,339,071 0 60.7% 1.30 N/A PERFORMING PERFORM TO MATURITY
14 4,332,135 0 64.7% 1.43 N/A PERFORMING PERFORM TO MATURITY
15 3,967,323 0 72.1% 1.29 N/A PERFORMING PERFORM TO MATURITY
16 3,881,663 0 72.6% 1.41 N/A PERFORMING PERFORM TO MATURITY
17 3,866,221 0 55.2% 1.59 N/A PERFORMING PERFORM TO MATURITY
18 3,713,122 0 74.3% 1.34 N/A PERFORMING PERFORM TO MATURITY
19 3,673,537 0 72.0% 1.54 N/A PERFORMING PERFORM TO MATURITY
20 3,573,367 0 66.2% 1.47 N/A PERFORMING PERFORM TO MATURITY
21 3,404,065 0 69.8% 1.43 N/A PERFORMING PERFORM TO MATURITY
22 3,331,833 0 68.9% 1.40 N/A PERFORMING PERFORM TO MATURITY
23 3,203,491 0 74.5% 1.20 N/A PERFORMING PERFORM TO MATURITY
24 3,173,691 0 74.5% 1.20 N/A PERFORMING PERFORM TO MATURITY
25 3,017,242 0 74.5% 1.20 N/A PERFORMING PERFORM TO MATURITY
26 2,954,287 0 67.1% 1.56 N/A PERFORMING PERFORM TO MATURITY
27 2,923,068 0 69.4% 1.39 N/A PERFORMING PERFORM TO MATURITY
28 2,865,735 0 51.0% 1.35 N/A PERFORMING PERFORM TO MATURITY
29 2,771,873 0 74.2% 1.27 N/A PERFORMING PERFORM TO MATURITY
30 2,782,526 0 71.3% 1.39 N/A PERFORMING PERFORM TO MATURITY
31 2,776,047 16 74.2% 1.34 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
32 2,687,755 0 74.7% 1.22 N/A PERFORMING PERFORM TO MATURITY
33 2,682,927 0 70.6% 1.49 N/A PERFORMING PERFORM TO MATURITY
34 2,582,803 0 73.8% 1.48 N/A PERFORMING PERFORM TO MATURITY
35 2,561,699 0 74.3% 1.34 N/A PERFORMING PERFORM TO MATURITY
36 2,488,168 0 64.8% 1.46 N/A PERFORMING PERFORM TO MATURITY
37 2,383,400 0 66.2% 1.42 N/A PERFORMING PERFORM TO MATURITY
38 2,340,458 0 50.9% 1.43 N/A PERFORMING PERFORM TO MATURITY
39 2,239,645 0 80.0% 1.21 N/A PERFORMING PERFORM TO MATURITY
40 2,215,837 0 61.6% 1.54 N/A PERFORMING PERFORM TO MATURITY
41 2,186,134 0 71.7% 1.53 N/A PERFORMING PERFORM TO MATURITY
42 2,121,742 0 64.3% 1.46 N/A PERFORMING PERFORM TO MATURITY
43 2,120,047 0 74.4% 1.45 N/A PERFORMING PERFORM TO MATURITY
44 2,013,957 0 71.9% 1.51 N/A PERFORMING PERFORM TO MATURITY
45 2,011,517 0 61.9% 1.51 N/A PERFORMING PERFORM TO MATURITY
46 1,892,915 16 64.2% 1.52 N/A PERFORMING PERFORM TO MATURITY
47 1,885,047 0 63.0% 1.47 N/A PERFORMING PERFORM TO MATURITY
48 1,885,579 0 61.8% 1.49 N/A PERFORMING PERFORM TO MATURITY
49 1,743,514 0 67.7% 1.38 N/A PERFORMING PERFORM TO MATURITY
50 1,692,098 0 67.7% 1.51 N/A PERFORMING PERFORM TO MATURITY
51 1,671,177 0 56.7% 1.24 N/A PERFORMING PERFORM TO MATURITY
52 1,660,976 0 74.2% 1.57 N/A PERFORMING PERFORM TO MATURITY
53 1,660,831 16 74.1% 1.32 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
54 1,631,082 0 63.5% 1.38 N/A PERFORMING PERFORM TO MATURITY
55 1,492,472 0 68.0% 1.41 N/A PERFORMING PERFORM TO MATURITY
56 1,485,729 0 59.4% 1.51 N/A PERFORMING PERFORM TO MATURITY
57 1,483,583 0 74.4% 1.37 N/A PERFORMING PERFORM TO MATURITY
58 1,440,536 0 65.8% 1.39 N/A PERFORMING PERFORM TO MATURITY
59 1,403,892 0 58.5% 1.61 N/A PERFORMING PERFORM TO MATURITY
60 1,388,861 0 66.1% 1.32 N/A PERFORMING PERFORM TO MATURITY
61 1,362,290 0 69.9% 1.49 N/A PERFORMING PERFORM TO MATURITY
62 1,340,350 0 58.3% 1.93 N/A PERFORMING PERFORM TO MATURITY
63 1,305,849 0 44.0% 1.79 N/A PERFORMING PERFORM TO MATURITY
64 1,317,619 0 65.9% 1.27 N/A PERFORMING PERFORM TO MATURITY
</TABLE>
Page - 22
<PAGE>
<TABLE>
<CAPTION>
CURRENT
ASSET PRINCIPAL DAYS ENVIRON
NO BALANCE DELINQ LTV DSCR ISSUES ASSET STATUS RESOLUTION TYPE
- ----- --------- ------ ----- ----- ----- -------------------------- -------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
65 1,289,235 0 62.1% 1.18 N/A PERFORMING PERFORM TO MATURITY
66 1,293,807 0 63.1% 1.57 N/A PERFORMING PERFORM TO MATURITY
67 1,269,151 0 57.7% 1.33 N/A PERFORMING PERFORM TO MATURITY
68 1,235,339 0 49.9% 1.47 N/A PERFORMING PERFORM TO MATURITY
69 1,193,014 0 62.8% 1.31 N/A PERFORMING PERFORM TO MATURITY
70 1,146,848 46 60.4% 1.64 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
71 1,139,598 0 64.2% 1.36 N/A PERFORMING PERFORM TO MATURITY
72 1,072,027 0 37.0% 1.44 N/A PERFORMING PERFORM TO MATURITY
73 1,045,087 0 70.4% 1.58 N/A PERFORMING PERFORM TO MATURITY
74 989,850 0 64.3% 1.31 N/A PERFORMING PERFORM TO MATURITY
75 917,171 0 72.8% 1.48 N/A PERFORMING PERFORM TO MATURITY
76 894,887 0 74.6% 1.50 N/A PERFORMING PERFORM TO MATURITY
77 894,224 0 59.6% 1.56 N/A PERFORMING PERFORM TO MATURITY
78 846,017 0 66.4% 1.60 N/A PERFORMING PERFORM TO MATURITY
79 820,926 0 74.6% 1.74 N/A PERFORMING PERFORM TO MATURITY
80 783,839 0 73.3% 1.29 N/A PERFORMING PERFORM TO MATURITY
81 744,586 0 57.3% 1.34 N/A PERFORMING PERFORM TO MATURITY
82 731,631 0 61.0% 1.48 N/A PERFORMING PERFORM TO MATURITY
83 719,243 0 55.3% 1.38 N/A PERFORMING PERFORM TO MATURITY
84 645,541 0 68.3% 1.38 N/A PERFORMING PERFORM TO MATURITY
85 594,872 0 50.4% 1.56 N/A PERFORMING PERFORM TO MATURITY
- -- ------- - ---- ----
TOTAL 220,968,771
===========
</TABLE>
Page - 23
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN TERMS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: MAY, 1996
DATE PRINTED: 29-MAY-96
<CAPTION>
REMAIN
CURRENT ORIG LOAN LOAN INT
ASSET PRINCIPAL NOTE AMORT TERM IN INT RATE
NO BALANCE DATE DATE MOS. RATE TYPE PAYMENT
- ------ --------- ------ ------- ------- ------ ---- -------
<S> <C> <C> <C> <C> <C> <C> <C>
01 8,218,156 12/1/95 1/1/2021 175 8.590% F 66,932
02 8,084,474 12/1/95 1/1/2021 175 8.590% F 65,844
03 7,330,117 10/27/95 11/1/2015 233 8.750% F 65,395
04 6,696,516 10/14/93 11/1/2018 53 8.350% F 55,064
05 6,537,234 11/10/95 12/1/2019 114 8.510% F 48,968
06 6,458,834 10/31/95 11/1/2020 77 8.080% F 50,513
07 6,038,620 9/29/95 10/1/2020 172 9.390% F 52,613
08 5,436,065 12/6/95 1/1/2011 79 8.050% F 52,720
09 5,320,987 11/20/95 12/1/2020 78 7.890% F 40,903
10 4,724,282 11/2/95 12/1/2020 54 7.900% F 36,347
11 4,482,573 12/5/95 1/1/2021 139 8.570% F 36,448
12 4,443,231 9/29/95 10/1/2020 172 9.390% F 38,713
13 4,339,071 10/31/95 11/1/2012 197 8.200% F 40,049
14 4,332,135 10/5/95 11/1/2020 173 9.230% F 37,235
15 3,967,323 11/7/95 12/1/2011 185 8.420% F 34,511
16 3,881,663 11/30/95 12/1/2020 138 8.770% F 32,117
17 3,866,221 8/3/95 9/1/2018 171 9.240% F 34,140
18 3,713,122 11/30/95 12/1/2014 114 8.650% F 34,301
19 3,673,537 10/6/95 11/1/2020 77 8.200% F 29,022
20 3,573,367 9/15/95 10/1/2020 112 8.940% F 30,063
21 3,404,065 10/19/95 11/1/2020 173 8.300% F 27,119
22 3,331,833 11/20/95 12/1/2020 78 7.890% F 25,612
23 3,203,491 8/11/95 9/1/2020 170 9.570% F 28,334
24 3,173,691 8/11/95 9/1/2020 170 9.570% F 28,070
25 3,017,242 8/11/95 9/1/2020 170 9.570% F 26,686
26 2,954,287 5/15/95 6/1/2015 168 9.930% F 28,812
27 2,923,068 9/28/95 10/1/2020 172 8.640% F 23,976
28 2,865,735 5/24/95 12/1/2014 222 9.550% F 27,502
29 2,771,873 11/30/95 12/1/2015 114 8.250% F 23,858
30 2,782,526 9/29/95 10/1/2020 112 9.140% F 23,767
31 2,776,047 8/9/95 9/1/2017 171 9.100% F 24,578
32 2,687,755 11/13/95 12/1/2020 114 8.990% F 22,640
33 2,682,927 9/11/95 10/1/2020 136 9.060% F 22,769
34 2,582,803 8/10/95 9/1/2020 171 9.620% F 22,933
35 2,561,699 12/1/95 11/1/2015 113 8.310% F 22,145
36 2,488,168 11/17/95 12/1/2020 138 8.730% F 20,520
37 2,383,400 8/15/95 9/6/2020 135 9.350% F 20,719
38 2,340,458 11/10/95 12/1/2015 78 8.310% F 20,198
39 2,239,645 11/14/95 12/1/2020 78 8.900% F 18,728
40 2,215,837 10/19/95 11/1/2010 173 9.700% F 23,767
41 2,186,134 9/14/95 10/1/2020 136 9.080% F 18,583
42 2,121,742 9/29/95 10/1/2020 112 9.170% F 18,166
43 2,120,047 7/21/95 8/1/2020 110 9.080% F 18,055
44 2,013,957 10/10/95 11/1/2020 137 9.000% F 16,994
45 2,011,517 8/25/95 9/1/2020 171 9.580% F 17,805
46 1,892,915 11/17/95 12/1/2020 138 8.800% F 15,685
47 1,885,047 12/1/95 12/1/2015 138 8.720% F 16,754
48 1,885,579 11/16/95 12/1/2015 174 9.010% F 17,107
49 1,743,514 10/27/95 11/1/2020 137 8.850% F 14,548
50 1,692,098 11/14/95 12/1/2020 138 8.840% F 14,081
51 1,671,177 10/31/95 11/1/2010 173 8.450% F 16,691
52 1,660,976 9/1/95 9/1/2015 171 9.660% F 15,836
53 1,660,831 8/11/95 9/1/2017 171 9.180% F 14,792
54 1,631,082 12/1/95 12/1/2011 186 9.390% F 16,636
55 1,492,472 12/1/95 12/1/2020 174 8.370% F 11,947
56 1,485,729 10/11/95 11/1/2015 173 8.690% F 13,198
57 1,483,583 11/30/95 12/1/2015 138 8.620% F 13,092
58 1,440,536 8/15/95 9/1/2020 171 9.700% F 12,871
59 1,403,892 7/21/95 8/1/2020 110 9.320% F 12,186
60 1,388,861 7/6/95 8/1/2020 111 9.240% F 11,980
61 1,362,290 6/23/95 7/1/2015 169 9.170% F 12,750
62 1,340,350 8/30/95 9/1/2020 135 9.150% F 11,468
63 1,305,849 11/20/95 12/1/2010 174 8.150% F 12,777
64 1,317,619 10/20/95 11/1/2020 173 8.870% F 11,002
65 1,289,235 11/10/95 12/1/2015 78 8.310% F 11,126
</TABLE>
Page - 24
<PAGE>
<TABLE>
<CAPTION>
REMAIN
CURRENT ORIG LOAN LOAN INT
ASSET PRINCIPAL NOTE AMORT TERM IN INT RATE
NO BALANCE DATE DATE MOS. RATE TYPE PAYMENT
- ------ --------- ------ ------- ------- ------ ---- -------
<S> <C> <C> <C> <C> <C> <C> <C>
66 1,293,807 11/15/95 12/1/2020 138 8.690% F 10,635
67 1,269,151 11/2/95 12/1/2020 138 8.920% F 10,630
68 1,235,339 8/10/95 9/1/2015 135 9.380% F 11,554
69 1,193,014 10/24/95 11/1/2020 173 8.600% F 9,744
70 1,146,848 11/30/95 12/1/2020 114 8.900% F 9,572
71 1,139,598 8/9/95 9/1/2015 171 10.060% F 11,163
72 1,072,027 6/30/95 7/1/2010 169 9.830% F 11,707
73 1,045,087 11/20/95 12/1/2020 138 8.800% F 8,668
74 989,850 6/30/95 7/1/2020 109 8.410% F 7,992
75 917,171 7/12/95 8/1/2020 134 8.860% F 7,674
76 894,887 10/20/95 11/1/2020 137 8.750% F 7,399
77 894,224 9/29/95 10/1/2020 136 8.970% F 7,534
78 846,017 11/30/95 12/1/2020 174 8.790% F 7,011
79 820,926 11/21/95 12/1/2020 174 8.470% F 6,626
80 783,839 7/20/95 8/1/2020 170 9.360% F 6,825
81 744,586 8/30/95 9/1/2020 135 9.090% F 6,340
82 731,631 8/28/95 9/1/2015 135 9.670% F 6,980
83 719,243 7/20/95 8/1/2020 86 9.250% F 6,209
84 645,541 8/1/95 9/1/2020 111 9.400% F 5,634
85 594,872 7/19/95 8/1/2020 134 8.800% F 4,953
- -- ------- - -- -- - - ---- --- ----- -----
TOTAL 220,968,771
===========
</TABLE>
Page - 25
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY DESCRIPTION
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: MAY, 1996
DATE PRINTED: 29-MAY-96
<CAPTION>
ASSET PROP YEAR PROPERTY VALUATION VALUATION
NO NO PROPERTY TYPE CITY STATE ZIP BUILT UNITS NET SF VALUE DATE SOURCE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
01 1 RETAIL CAMBRIDGE MA 02138 1953 NA 84,323 12,200,000 11/15/95 MAI APPRAISAL
02 1 RETAIL QUINCY MA 02169 1964 NA 102,764 15,600,000 11/15/95 MAI APPRAISAL
03 1 MIXED USE WASHINGTON DC 20007 1991 NA 60,010 11,200,000 9/29/95 MAI APPRAISAL
04 1 MULTI-FAMILY PATCHOGUE NY 11772 1965 160 128,790 7,700,000 7/23/93 APPRAISAL (NON-
04 3 MULTI-FAMILY EAST PATCHOGUE NY 11772 1965 96 81,600 4,750,000 7/23/93 APPRAISAL (NON-
05 1 MIXED USE COCONUT GROVE FL 33133 1995 NA 36,493 9,500,000 9/5/95 MAI APPRAISAL
06 1 HEALTH CARE CHATTANOOGA TN 37405 1986 143 109,463 11,300,000 10/1/95 MAI APPRAISAL
07 1 RETAIL PALMDALE CA 93551 1990 NA 117,952 8,840,000 9/14/95 MAI APPRAISAL
08 1 RETAIL MESQUITE TX 75150 1995 NA 141,284 9,150,000 10/5/95 MAI APPRAISAL
09 1 MULTI-FAMILY DENTON TX 76201 1986 226 198,456 7,300,000 10/19/95 MAI APPRAISAL
10 1 MULTI-FAMILY TULSA OK 74145 1969 259 228,450 6,700,000 6/5/95 MAI APPRAISAL
11 1 OFFICE RIVERSIDE CA 92507 1989 NA 58,408 6,200,000 10/13/95 MAI APPRAISAL
12 1 RETAIL YUBA CITY CA 95991 1989 NA 86,582 6,900,000 9/12/95 MAI APPRAISAL
13 1 INDUSTRIAL OCEANSIDE CA 92054 1979 NA 155,200 7,150,000 9/28/95 MAI APPRAISAL
14 1 RETAIL EUREKA CA 95503 1989 NA 89,171 6,700,000 5/8/95 MAI APPRAISAL
15 1 RETAIL JOHNSTON RI 02919 1984 NA 105,180 5,500,000 10/1/95 MAI APPRAISAL
16 1 RETAIL HOUSTON TX 77031 1974 NA 96,109 5,350,000 10/5/95 MAI APPRAISAL
17 1 RETAIL LITTLE ROCK AR 72202 1984 NA 148,664 7,000,000 3/25/95 MAI APPRAISAL
18 1 RETAIL THIBODAUX LA 70301 1980 NA 142,061 5,000,000 11/1/95 MAI APPRAISAL
19 1 HEALTH CARE BRISTOL VA 24201 1985 97 55,560 5,100,000 9/1/95 APPRAISAL (NON-
20 1 MIXED USE BETHESDA MD 20816 1983 NA 54,700 5,400,000 7/10/95 MAI APPRAISAL
21 1 RETAIL CORONA CA 91720 1989 NA 52,924 4,880,000 7/25/95 MAI APPRAISAL
22 1 MULTI-FAMILY DENTON TX 76207 1983 200 142,200 4,835,000 10/19/95 MAI APPRAISAL
23 1 RETAIL OCALA FL 33680 1993 1 49,069 4,300,000 7/31/95 MAI APPRAISAL
24 1 RETAIL AUBURNDALE FL 33823 1994 1 48,683 4,260,000 7/31/95 MAI APPRAISAL
25 1 RETAIL GAINESVILLE FL 32605 1991 1 46,259 4,050,000 7/31/95 MAI APPRAISAL
26 1 LODGING KINGSPORT TN 37660 1986 122 43,100 4,400,000 4/27/95 MAI APPRAISAL
27 1 RETAIL RIALTO CA 91720 1989 NA 52,748 4,210,000 7/25/95 MAI APPRAISAL
28 1 HEALTH CARE BROOKLYN NY 11236 1975 346 62,236 5,617,920 4/1/95 MAI APPRAISAL
29 1 RETAIL LINCOLN NE 68516 1992 NA 50,115 3,735,000 10/27/95 APPRAISAL (NON-
30 1 MULTI-FAMILY HAZELWOOD MO 63042 1963 64 40,640 1,310,000 7/11/95 MAI APPRAISAL
30 2 MULTI-FAMILY ST ANN MO 63074 1968 78 47,794 1,300,000 7/12/95 MAI APPRAISAL
30 3 MULTI-FAMILY NORMANDY MO 63121 1965 78 44,230 1,290,000 7/11/95 MAI APPRAISAL
31 1 MULTI-FAMILY BOWLING GREEN KY 42104 1971 128 110,480 3,740,000 2/28/95 MAI APPRAISAL
32 1 MULTI-FAMILY STATEN ISLAND NY 10304 1972 98 51,362 3,600,000 6/20/95 MAI APPRAISAL
33 1 INDUSTRIAL CASSELBERRY FL 32707 1975 NA 100,576 3,800,000 7/28/95 MAI APPRAISAL
34 1 OFFICE MINNEAPOLIS MN 55401 1896 NA 60,550 3,500,000 7/12/95 MAI APPRAISAL
35 1 RETAIL OKEMOS MI 48864 1971 NA 18,436 1,750,000 8/22/95 MAI APPRAISAL
35 2 RETAIL JOLIET IL 60431 1984 NA 18,830 1,700,000 8/21/95 MAI APPRAISAL
36 1 RETAIL LOS ANGELES CA 90025 1984 NA 18,792 3,840,000 9/14/95 MAI APPRAISAL
37 1 RETAIL MINNETONKA MN 55345 1987 NA 43,120 3,600,000 6/19/95 MAI APPRAISAL
38 1 MANUFACTURED HOU PUEBLO CO 81001 1974 388 NA 4,600,000 8/29/95 MAI APPRAISAL
39 1 MULTI-FAMILY KANSAS CITY KS 66103 1988 108 90,914 2,800,000 10/10/95 MAI APPRAISAL
40 1 INDUSTRIAL ROCKVILLE MD 20852 1977 NA 46,831 3,600,000 5/3/95 MAI APPRAISAL
41 1 INDUSTRIAL VADNAIS HEIGHTS MN 55110 1990 NA 60,719 3,050,000 7/21/95 MAI APPRAISAL
42 1 RETAIL HARRISONBURG VA 22801 1992 NA 44,920 3,300,000 8/25/95 MAI APPRAISAL
43 1 RETAIL GEDDES NY 13219 1973 NA 60,500 2,850,000 5/15/95 MAI APPRAISAL
44 1 RETAIL KATY TX 77450 1984 NA 50,050 2,800,000 8/18/95 MAI APPRAISAL
45 1 RETAIL DANVERS MA 01923 1960 NA 39,850 3,250,000 5/16/95 MAI APPRAISAL
46 1 OFFICE AVON IN 46122 1988 NA 38,519 2,950,000 10/3/95 MAI APPRAISAL
47 1 OFFICE ALBUQUERQUE NM 87107 1973 NA 67,174 2,990,000 10/17/95 MAI APPRAISAL
48 1 WAREHOUSE WASHINGTON DC 20002 1985 764 52,872 3,050,000 10/10/95 MAI APPRAISAL
49 1 RETAIL WEST DEPTFORD NJ 08096 1990 NA 28,000 2,575,000 8/17/95 MAI APPRAISAL
50 1 OFFICE RIVERSIDE CA 92507 1990 NA 25,865 2,500,000 9/30/95 MAI APPRAISAL
51 1 WAREHOUSE PHOENIX AZ 85017 1959 NA 143,536 2,950,000 9/19/95 MAI APPRAISAL
52 1 RETAIL ANCHORAGE AK 99577 1982 13 35,429 2,240,000 8/21/95 MAI APPRAISAL
53 1 MULTI-FAMILY LAFAYETTE IN 47904 1971 120 49,456 2,240,000 3/2/95 MAI APPRAISAL
54 1 RETAIL ROWLAND HEIGHTS CA 91745 1988 NA 27,309 2,570,000 10/10/95 MAI APPRAISAL
55 1 MULTI-FAMILY NORMAN OK 73072 1973 140 129,952 2,195,000 10/13/95 MAI APPRAISAL
56 1 HEALTH CARE SAN ANTONIO TX 78229 1985 60 21,110 2,500,000 9/1/95 MAI APPRAISAL
57 1 MULTI-FAMILY METARIE LA 70002 1975 30 21,097 450,027 10/19/95 MAI APPRAISAL
57 2 MULTI-FAMILY METARIE LA 70002 1985 32 17,664 479,973 10/19/95 MAI APPRAISAL
</TABLE>
Page - 26
<PAGE>
<TABLE>
<CAPTION>
ASSET PROP YEAR PROPERTY VALUATION VALUATION
NO NO PROPERTY TYPE CITY STATE ZIP BUILT UNITS NET SF VALUE DATE SOURCE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
57 3 MULTI-FAMILY NEW ORLEANS LA 70131 1974 32 33,800 540,000 10/19/95 MAI APPRAISAL
57 4 MULTI-FAMILY MARRERO LA 70072 1983 30 27,840 524,000 10/19/95 MAI APPRAISAL
58 1 MIXED USE OKLAHOMA CITY OK 73139 1984 84 82,419 2,190,000 6/29/95 MAI APPRAISAL
59 1 OFFICE CARROLLTON TX 75007 1985 NA 53,475 2,400,000 7/6/95 MAI APPRAISAL
60 1 MULTI-FAMILY PLEASANTVILLE NJ 11272 1988 46 44,684 2,100,000 4/3/95 MAI APPRAISAL
61 1 RETAIL AURORA IL 60504 1977 NA 48,790 1,950,000 5/1/95 MAI APPRAISAL
62 1 OFFICE GRAPEVINE TX 76051 1978 NA 67,678 2,300,000 7/15/95 MAI APPRAISAL
63 1 MULTI-FAMILY DENTON TX 76205 1975 100 98,092 2,965,000 10/19/95 MAI APPRAISAL
64 1 MULTI-FAMILY AUSTIN TX 78731 1972 91 66,295 2,000,000 9/19/95 MAI APPRAISAL
65 1 MANUFACTURED HOU LOVELAND CO 80537 1966 113 NA 2,075,000 8/30/95 MAI APPRAISAL
66 1 MIXED USE LYNNWOOD WA 98036 1980 NA 34,948 2,050,000 9/27/95 MAI APPRAISAL
67 1 MULTI-FAMILY HOUSTON TX 77081 1970 144 127,908 2,200,000 8/17/95 MAI APPRAISAL
68 1 INDUSTRIAL CANOGA PARK CA 91304 1978 3 64,518 2,475,000 7/19/95 MAI APPRAISAL
69 1 MULTI-FAMILY FORT WORTH TX 76116 1969 120 111,760 1,900,000 9/19/95 MAI APPRAISAL
70 1 MULTI-FAMILY LEOMINSTER MA 01453 1895 58 59,480 1,900,000 7/26/95 MAI APPRAISAL
71 1 WAREHOUSE ALBUQUERQUE NM 87109 1980 505 40,622 1,775,000 6/28/95 MAI APPRAISAL
72 1 WAREHOUSE FLORISSANT MO 63031 1974 1,079 106,635 2,900,000 3/8/95 MAI APPRAISAL
73 1 RETAIL ABILENE TX 79608 1983 NA 29,223 1,485,000 10/4/95 MAI APPRAISAL
74 1 MULTI-FAMILY JACKSON MS 39206 1973 96 79,752 1,540,000 4/3/95 MAI APPRAISAL
75 1 OFFICE PHOENIX AZ 85016 1985 NA 10,200 1,260,000 5/19/95 MAI APPRAISAL
76 1 INDUSTRIAL NIAGARA NY 14305 1988 NA 36,461 1,200,000 9/13/95 MAI APPRAISAL
77 1 OFFICE COLUMBUS OH 43227 1985 48 58,000 1,500,000 9/12/95 MAI APPRAISAL
78 1 INDUSTRIAL HOUSTON TX 77063 1986 NA 60,000 1,275,000 5/23/95 MAI APPRAISAL
79 1 OFFICE ROSEVILLE MN 55113 1973 NA 24,139 1,100,000 10/6/95 MAI APPRAISAL
80 1 RETAIL MIDDLETOWN CT 06457 1955 NA 16,986 1,070,000 3/29/95 MAI APPRAISAL
81 1 MULTI-FAMILY GRAND JUNCTION CO 81501 1977 37 36,432 1,300,000 6/20/95 MAI APPRAISAL
82 1 RETAIL MAPLEWOOD MN 55109 1988 NA 23,708 1,200,000 5/5/95 MAI APPRAISAL
83 1 MULTI-FAMILY GOFFSTOWN NH 03045 1972 48 30,675 800,000 3/14/95 MAI APPRAISAL
83 2 MULTI-FAMILY FRANKLIN NH 03235 1974 36 25,200 500,000 3/13/95 MAI APPRAISAL
84 1 MULTI-FAMILY MIDWEST CITY OK 73110 1972 104 91,200 945,000 4/25/95 MAI APPRAISAL
85 1 MULTI-FAMILY REYNOLDSBURG OH 43068 1967 58 38,084 1,180,000 5/17/95 MAI APPRAISAL
</TABLE>
Page - 27
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY PERFORMANCE
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: MAY, 1996
DATE PRINTED: 29-MAY-96
<CAPTION>
BASELINE OR MOST YTD YTD
ASSET PROP MOST RECENT NOI RECENT YTD PERIOD PERIOD PERCENT
NO NO ANNUAL NOI AS OF NOI SOURCE NOI BEGIN ENDING YTD NOI SOURCE OCCUPIED AS OF
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
01 1 1,217,474 12/1/95 PROSPECTUS 100.0 10/1/95
02 1 1,089,693 12/1/95 PROSPECTUS 100.0 11/15/95
03 1 1,047,376 12/1/95 PROSPECTUS 88.5% 11/1/95
04 1 663,815 12/1/95 PROSPECTUS $ 160,896 1/1/96 3/31/96 BORROWER 95.6% 3/31/96
04 3 352,870 12/1/95 PROSPECTUS $ 110,529 1/1/96 3/31/96 BORROWER 99.0% 3/31/96
05 1 873,821 12/1/95 PROSPECTUS $ 261,578 9/1/95 12/31/95 BORROWER 96.1% 11/7/95
06 1 965,796 12/1/95 PROSPECTUS $ 203,730 10/31/95 12/31/95 BORROWER 88.1% 4/1/96
07 1 862,693 12/1/95 PROSPECTUS $ 1,785,143 1/1/95 12/31/95 BORROWER 100.0 9/30/95
08 1 773,983 12/1/95 PROSPECTUS $ 202,106 1/1/96 3/31/96 BORROWER 100.0 3/19/96
09 1 680,546 12/1/95 PROSPECTUS $ 196,242 1/1/96 3/31/96 MANAGEMENT COMPANY 93.4% 4/25/96
10 1 573,776 12/1/95 PROSPECTUS $ 585,282 1/1/95 12/31/95 BORROWER 95.8% 1/25/96
11 1 647,944 12/1/95 PROSPECTUS $ 521,168 1/1/95 12/31/95 BORROWER 88.2% 4/1/96
12 1 653,903 12/1/95 PROSPECTUS $ 1,958,034 1/1/95 12/31/95 BORROWER 100.0 7/15/95
13 1 624,354 12/1/95 PROSPECTUS 100.0 7/15/95
14 1 640,741 12/1/95 PROSPECTUS $ 1,112,647 1/1/95 12/31/95 BORROWER 100.0 7/15/95
15 1 533,952 12/1/95 PROSPECTUS $ 574,131 1/1/95 12/31/95 BORROWER 100.0 12/31/95
16 1 542,445 12/1/95 PROSPECTUS $ 135,299 1/1/96 3/31/96 BORROWER 96.8% 4/19/96
17 1 651,474 12/1/95 PROSPECTUS $ 702,431 1/1/95 12/31/95 BORROWER 100.0 12/29/95
18 1 552,226 12/1/95 PROSPECTUS $ 645,624 1/1/95 12/31/95 BORROWER 99.6% 4/1/96
19 1 535,379 12/1/95 PROSPECTUS $ 111,093 9/29/95 12/31/95 BORROWER 97.9% 3/1/96
20 1 530,768 12/1/95 PROSPECTUS $ 561,341 1/1/95 12/31/95 BORROWER 100.0 4/3/96
21 1 464,345 12/1/95 PROSPECTUS $ 499,230 1/1/95 12/31/95 BORROWER 100.0 2/1/96
22 1 431,173 12/1/95 PROSPECTUS $ 132,122 1/1/96 3/31/96 MANAGEMENT COMPANY 93.0% 4/25/96
23 1 408,161 12/1/95 PROSPECTUS $ 1,223,603 1/1/95 12/31/95 BORROWER 100.0 7/31/95
24 1 404,951 12/1/95 PROSPECTUS ($ 72,984) 1/1/95 12/31/95 BORROWER 100.0 7/31/95
25 1 384,786 12/1/95 PROSPECTUS $ 717,105 1/1/95 12/31/95 BORROWER 100.0 7/31/95
26 1 539,140 12/1/95 PROSPECTUS $ 94,911 1/1/96 3/31/96 BORROWER 51.9% 3/31/96
27 1 399,391 12/1/95 PROSPECTUS $ 442,621 1/1/95 12/31/95 BORROWER 100.0 2/1/96
28 1 445,676 12/1/95 PROSPECTUS $ 565,145 1/1/95 12/31/95 AUDIT 97.4% 10/31/95
29 1 364,381 12/1/95 PROSPECTUS $ 122,131 1/1/96 4/30/96 BORROWER 99.2% 10/1/95
30 1 136,459 12/1/95 PROSPECTUS 93.8% 11/9/95
30 2 128,210 12/1/95 PROSPECTUS 92.3% 11/9/95
30 3 131,454 12/1/95 PROSPECTUS 96.2% 11/9/95
31 1 394,226 12/1/95 PROSPECTUS 99.2% 7/14/95
32 1 330,879 12/1/95 PROSPECTUS 98.0% 8/1/95
33 1 407,745 12/1/95 PROSPECTUS $ 362,287 1/1/95 12/31/95 BORROWER 95.9% 12/31/95
34 1 407,419 12/1/95 PROSPECTUS $ 490,324 1/1/95 12/31/95 BORROWER 98.5% 12/1/95
35 1 186,486 12/1/95 PROSPECTUS $ 791,206 1/30/95 1/28/96 BORROWER 100.0 1/3/96
35 2 168,301 12/1/95 PROSPECTUS $ 634,500 1/30/95 1/28/96 BORROWER 100.0 1/3/96
36 1 359,502 12/1/95 PROSPECTUS $ 395,219 1/1/95 12/31/95 BORROWER 100.0 12/31/95
37 1 353,103 12/1/95 PROSPECTUS $ 352,288 1/1/95 12/31/95 BORROWER TAX RETURN 100.0 10/1/95
38 1 347,126 12/1/95 PROSPECTUS $ 232,615 4/24/95 12/31/95 BORROWER 68.6% 12/29/95
39 1 270,970 12/1/95 PROSPECTUS $ 69,246 1/1/96 3/31/96 MANAGEMENT COMPANY 96.3% 4/1/96
40 1 438,223 12/1/95 PROSPECTUS $ 473,271 1/1/95 12/31/95 BORROWER 100.0 11/21/95
41 1 341,897 12/1/95 PROSPECTUS $ 108,551 1/1/96 3/31/96 BORROWER 93.4% 5/1/96
42 1 318,203 12/1/95 PROSPECTUS 100.0 9/15/95
43 1 313,952 12/1/95 PROSPECTUS $ 258,181 1/1/95 12/31/95 BORROWER 88.1% 10/26/95
44 1 307,847 12/1/95 PROSPECTUS $ 186,059 5/1/95 12/31/95 BORROWER 93.7% 3/1/96
45 1 321,863 12/1/95 PROSPECTUS $ 333,605 1/1/95 12/31/95 BORROWER 100.0 11/28/95
46 1 285,271 12/1/95 PROSPECTUS $ 254,730 1/1/95 12/31/95 BORROWER TAX RETURN 100.0 11/10/95
47 1 296,001 12/1/95 PROSPECTUS $ 354,103 1/1/95 12/31/95 BORROWER 100.0 3/29/96
48 1 305,014 12/1/95 PROSPECTUS $ 66,394 1/1/96 3/31/96 BORROWER 76.8% 4/1/96
49 1 241,133 12/1/95 PROSPECTUS $ 289,348 1/1/95 12/31/95 BORROWER TAX RETURN 100.0 10/3/95
50 1 255,544 12/1/95 PROSPECTUS $ 292,876 1/1/95 12/31/95 BORROWER 100.0 4/1/96
51 1 247,579 12/1/95 PROSPECTUS 100.0 11/1/95
52 1 297,817 12/1/95 PROSPECTUS $ 313,583 1/1/95 12/31/95 MANAGEMENT COMPANY 95.7% 1/18/96
53 1 234,679 12/1/95 PROSPECTUS 100.0 7/14/95
54 1 275,593 12/1/95 PROSPECTUS 100.0 11/21/95
55 1 201,769 12/1/95 PROSPECTUS $ 161,640 1/1/95 12/31/95 BORROWER 81.4% 12/31/95
56 1 238,610 12/1/95 PROSPECTUS $ 63,091 1/1/96 3/31/96 MANAGEMENT COMPANY 75.0% 4/1/96
57 1 43,097 12/1/95 PROSPECTUS $ 1,202 1/1/96 3/31/96 BORROWER 66.6% 3/22/96
57 2 45,952 12/1/95 PROSPECTUS $ 15,249 1/1/96 3/31/96 BORROWER 93.7% 3/22/96
57 3 59,395 12/1/95 PROSPECTUS $ 18,286 1/1/96 3/31/96 BORROWER 90.3% 10/12/95
57 4 66,287 12/1/95 PROSPECTUS $ 21,884 1/1/96 3/31/96 BORROWER 90.3% 10/12/95
58 1 214,383 12/1/95 PROSPECTUS $ 260,012 1/1/95 12/31/95 BORROWER 99.0% 3/27/96
59 1 235,279 12/1/95 PROSPECTUS $ 263,898 1/1/95 12/20/95 BORROWER 95.0% 12/16/95
60 1 189,398 12/1/95 PROSPECTUS 100.0 7/31/95
61 1 228,087 12/1/95 PROSPECTUS $ 121,037 6/23/95 12/31/95 BORROWER 100.0 3/6/96
</TABLE>
Page - 28
<PAGE>
<TABLE>
<CAPTION>
BASELINE OR MOST YTD YTD
ASSET PROP MOST RECENT NOI RECENT YTD PERIOD PERIOD PERCENT
NO NO ANNUAL NOI AS OF NOI SOURCE NOI BEGIN ENDING YTD NOI SOURCE OCCUPIED AS OF
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 1 264,948 12/1/95 PROSPECTUS $ 286,978 1/1/95 12/31/95 MANAGEMENT COMPANY 100.0 6/30/95
63 1 275,131 12/1/95 PROSPECTUS $ 83,633 1/1/96 3/31/96 MANAGEMENT COMPANY 100.0 4/24/96
64 1 168,300 12/1/95 PROSPECTUS $ 293,517 1/1/95 12/31/95 BORROWER 93.5% 12/1/95
65 1 157,898 12/1/95 PROSPECTUS $ 123,740 4/24/95 12/31/95 BORROWER 97.3% 12/29/95
66 1 200,714 12/1/95 PROSPECTUS $ 213,833 1/1/95 12/31/95 MANAGEMENT COMPANY 97.7% 12/31/95
67 1 170,281 12/1/95 PROSPECTUS $ 186,860 1/1/95 12/31/95 BORROWER 98.6% 1/1/96
68 1 204,266 12/1/95 PROSPECTUS $ 76,484 1/1/96 3/31/96 BORROWER 100.0 3/31/96
69 1 152,600 12/1/95 PROSPECTUS $ 30,231 11/1/95 12/31/95 BORROWER 96.7% 1/3/96
70 1 188,678 12/1/95 PROSPECTUS 100.0 11/15/95
71 1 181,976 12/1/95 PROSPECTUS $ 167,756 1/1/95 12/31/95 BORROWER 74.7% 3/28/96
72 1 202,116 12/1/95 PROSPECTUS $ 210,850 1/1/95 12/31/95 ACCOUNTANT 65.0% 12/31/94
73 1 164,787 12/1/95 PROSPECTUS 100.0 11/17/95
74 1 125,340 12/1/95 PROSPECTUS $ 183,318 1/1/95 12/31/95 BORROWER 94.8% 3/28/96
75 1 136,606 12/1/95 PROSPECTUS 100.0 11/13/95
76 1 132,971 12/1/95 PROSPECTUS $ 145,837 1/1/95 12/31/95 BORROWER 83.5% 1/1/96
77 1 140,685 12/1/95 PROSPECTUS $ 47,540 1/1/96 3/31/96 BORROWER 97.9% 3/31/96
78 1 134,244 12/1/95 PROSPECTUS $ 134,916 1/1/95 12/31/95 BORROWER 91.7% 12/31/95
79 1 138,445 12/1/95 PROSPECTUS $ 180,809 1/1/95 12/31/95 BORROWER 100.0 12/31/95
80 1 105,904 12/1/95 PROSPECTUS 85.3% 10/1/95
81 1 101,972 12/1/95 PROSPECTUS $ 34,171 1/1/96 3/31/96 BORROWER 97.3% 4/26/96
82 1 124,334 12/1/95 PROSPECTUS $ 115,520 1/1/95 12/31/95 BORROWER 97.5% 1/1/96
83 1 64,622 12/1/95 PROSPECTUS $ 78,220 1/1/95 12/31/95 BORROWER 97.9% 2/1/96
83 2 38,258 12/1/95 PROSPECTUS $ 35,359 1/1/95 12/31/95 BORROWER 94.4% 2/1/96
84 1 92,969 12/1/95 PROSPECTUS $ 22,786 1/1/96 3/31/96 BORROWER 92.3% 3/31/96
85 1 92,650 12/1/95 PROSPECTUS $ 82,402 1/1/95 12/31/95 95.3% 1/31/96
</TABLE>
Page - 29
<PAGE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - ASSET COMMENTS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: MAY, 1996
DATE PRINTED: 29-MAY-96
LOAN 01 - 1:
LOAN 02 - 1:
LOAN 03 - 1:
LOAN 04 - 3:
LOAN 04 - 1:
LOAN 05 - 1:
LOAN 06 - 1:
LOAN 07 - 1: Latest Annual Statement Comment: 12/1/95 - ANALYSIS IS
BASED ON MARKET RATES FOR A TRIPLE NET LEASE. Partial Year Statement
Comment: 12/31/95 - STATEMENT REFLECTS OPERATIONS OF OWNER/OCCUPANT'S
RETAIL BUSINESS.
LOAN 08 - 1: Latest Annual Statement Comment: 12/1/95 - SINGLE TENANT
WITH AN ABSOLUTE NET LEASE. TENANT IS RESPONSIBLE FOR ALL OPERATING
EXPENSES. A 2% MANAGEMENT FEE WAS USED IN THE BASELINE.
LOAN 09 - 1:
LOAN 10 - 1:
LOAN 11 - 1: Partial Year Statement Comment: 12/31/95 - RENTAL REVENUE
IS 10% BELOW BASELINE PROJECTIONS AND 7% BELOW 1994. HOWEVER, RENT ROLL
INDICATES BASE SCHEDULED RENTAL REVENUE IN LINE WITH BASELINE PROJECTIONS
WITH THE TENANTS THAT ARE IN PLACE. CAPITAL EXPENSES INCLUDE $45,000 IN
LOAN FEES.
LOAN 12 - 1: Latest Annual Statement Comment: 12/1/95 - ANALYSIS IS
BASED ON MARKET RATES FOR A TRIPLE NET LEASE. Partial Year Statement
Comment: 12/31/95 - STATEMENT REFLECTS OPERATIONS OF OWNER/OCCUPANT'S
RETAIL BUSINESS.
LOAN 13 - 1:
LOAN 14 - 1: Latest Annual Statement Comment: 12/1/95 - ANALYSIS IS
BASED ON MARKET RATES FOR A TRIPLE NET LEASE. Partial Year Statement
Comment: 12/31/95 - STATEMENT REFLECTS OPERATIONS OF OWNER/OCCUPANT'S
RETAIL BUSINESS.
LOAN 15 - 1:
LOAN 16 - 1: Partial Year Statement Comment: 3/31/96 - CAPITAL EXPENSE
OF $126,349 IS FOR REPAVING PARKING LOT.
LOAN 17 - 1:
LOAN 18 - 1:
LOAN 19 - 1: Partial Year Statement Comment: 12/31/95 - REVENUE IS 17%
BELOW BASELINE ESTIMATE, BUT CONSISTENT WITH PREVIOUS YEARS. HOWEVER,
STATEMENT REFLECTS ONLY THREE MONTHS OF OPERATIONS.
LOAN 20 - 1:
LOAN 21 - 1:
LOAN 22 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING EXPENSES ARE 12% BELOW BASELINE PROJECTION, BUT IN LINE WITH
PREVIOUS YEARS.
LOAN 23 - 1: Partial Year Statement Comment: 12/31/95 - STATEMENT
REFLECTS OPERATIONS OF GROCERY STORE WHICH OPERATES IN PROPERTY.
LOAN 24 - 1: Latest Annual Statement Comment: 12/1/95 - ANALYSIS IS
BASED ON MARKET RATES FOR A TRIPLE NET LEASE. Partial Year Statement
Comment: 12/31/95 - STATEMENT REFLECTS OPERATIONS OF GROCERY STORE WHICH
OPERATES IN PROPERTY. GROCERY STORE OPENED IN OCTOBER, 1994. CUSTOMER
COUNTS HAVE NOT YET REACHED LEVELS OF SIMILAR STORES ON RELATED LOANS.
Page - 30
<PAGE>
LOAN 25 - 1: Latest Annual Statement Comment: 12/1/95 - INFORMATION WAS
TAKEN DIRECTLY FROM APPRAISER'S ANALYSIS. NO FORMAL MODEL WAS PREPARED.
Partial Year Statement Comment: 12/31/95 - STATEMENT REFLECTS OPERATIONS
OF GROCERY STORE WHICH OPERATES IN PROPERTY.
LOAN 26 - 1: Partial Year Statement Comment: 3/31/96 - ANNUALIZED YEAR
TO DATE REVENUE IS 10% BELOW BASELINE EXPECTATION. HOWEVER, MANAGER
INDICATES THAT POOR WEATHER IN FIRST TWO MONTHS OF YEAR RESULTED IN DECLINE
IN CORPORATE BUSINESS WHICH NORMALLY PROVIDES MOST OF THE REVENUE DURING THE
WINTER MONTHS.
LOAN 27 - 1:
LOAN 28 - 1: Partial Year Statement Comment: 12/31/95 - OPERATING
STATEMENT REFLECTS ACTUAL OPERATIONS OF ADULT CARE FACILITY LESS LEASE
PAYMENT TO BORROWER IN ORDER TO ANALYZE PROPERTY OPERATIONS IN RELATION TO
DEBT SERVICE.
LOAN 29 - 1:
LOAN 30 - 1:
LOAN 30 - 2:
LOAN 30 - 3:
LOAN 31 - 1: Status Comment: Payments are consistently delinquent.
This loan is related to another loan in this pool and to a loan in PSSFC
Series 1995 C1 that have experienced the same payment pattern.
LOAN 32 - 1: Status Comment: Assumption in progress.
LOAN 33 - 1:
LOAN 34 - 1:
LOAN 35 - 1: Partial Year Statement Comment: 1/28/96 - STATEMENT
REFLECTS OPERATIONS OF OWNER-OCCUPANT'S RETAIL BUSINESS.
LOAN 35 - 2: Partial Year Statement Comment: 1/28/96 - STATEMENT
REFLECTS OPERATIONS OF OWNER-OCCUPANT'S RETAIL BUSINESS.
LOAN 36 - 1:
LOAN 37 - 1:
LOAN 38 - 1:
LOAN 39 - 1:
LOAN 40 - 1:
LOAN 41 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX OR INSURANCE EXPENSE.
LOAN 42 - 1:
LOAN 43 - 1: Partial Year Statement Comment: 12/31/95 - REVENUE IS 14%
BELOW PREVIOUS YEAR AND 12% BELOW BASELINE. BORROWER REPRESENTATIVE
INDICATES THAT THEY HAVE LOST A COUPLE OF TENANTS, BUT ARE IN THE PROCESS OF
REPLACING THESE TENANTS. SCHEDULED RENTAL REV FROM NEW RENT ROLL IS IN
LINE WITH BASELINE.
LOAN 44 - 1:
LOAN 45 - 1:
LOAN 46 - 1: Partial Year Statement Comment: 12/31/95 - CAPITAL
EXPENSES ARE COMPRISED OF FINANCING COSTS.
LOAN 47 - 1:
LOAN 48 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX OR INSURANCE EXPENSE.
LOAN 49 - 1:
LOAN 50 - 1: Partial Year Statement Comment: 12/31/95 - CAPITAL
EXPENSES INCLUDE LOAN FEES.
LOAN 51 - 1:
LOAN 52 - 1:
Page - 31
<PAGE>
LOAN 53 - 1: Status Comment: Payments are consistently delinquent.
This loan is related to another loan in this pool and to a loan in PSSFC
Series 1995 C1 that have experienced the same payment pattern.
LOAN 54 - 1:
LOAN 55 - 1: Partial Year Statement Comment: 12/31/95 - REVENUE IS 7%
BELOW BASELINE EXPECTATION, WHILE EXPENSES ARE CONSISTENT WITH BASELINE
EXPECTATIONS. OCCUPANCY HAS DECLINED FROM 97% IN SEPT OF 1995 TO 81% ON
1995 YEAR END RENT ROLL. DECLINE IS PARTIALLY DUE TO DECISION TO EVICT
SLOW/NON-PAYING TENANTS.
LOAN 56 - 1:
LOAN 57 - 1: Partial Year Statement Comment: 3/31/96 - REVENUE IS 18%
BELOW BASELINE PROJECTION DUE TO DECLINE IN OCCUPANCY. REPAIR AND
MAINTENANCE AND UTILITY EXPENSES EXCEEDED BASELINE PROJECTIONS. TELEPHONED
BORROWER TO REQUEST ADDITIONAL INFORMATION.
LOAN 57 - 4: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX, INSURANCE, OR UTILITY EXPENSE.
LOAN 57 - 3: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX OR INSURANCE EXPENSE.
LOAN 57 - 2: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX EXPENSE.
LOAN 58 - 1: Status Comment: Property is an 82,135 SF one and two story
mixed use retail and multi-family facility that was built in 1984.
LOAN 59 - 1:
LOAN 60 - 1:
LOAN 61 - 1: Partial Year Statement Comment: 12/31/95 - OPERATING
STATEMENT WAS ALSO RECEIVED FOR TENANT FOR 1995 FISCAL YEAR WHICH INDICATES
THAT TENANT'S NET OPERATING INCOME AFTER THEIR LEASE PAYMENT WAS $986,781.
THIS IMPLIES THAT TENANT COULD COVER THEIR LEASE PAYMENT APPROXIMATELY FIVE
TIMES.
LOAN 62 - 1: Partial Year Statement Comment: 12/31/95 - PROPERTY IS
LEASED ON A 10 YEAR TRIPLE NET LEASE WITH ALL EXPENSES PASSED THROUGH TO
TENANT.
LOAN 63 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING EXPENSES ARE 12% BELOW BASELINE PROJECTION, BUT CONSISTENT WITH
PREVIOUS YEARS.
LOAN 64 - 1: Partial Year Statement Comment: 12/31/95 - ANNUAL
STATEMENT DID NOT INCLUDE ANY PROPERTY TAX EXPENSE.
LOAN 65 - 1:
LOAN 66 - 1:
LOAN 67 - 1:
LOAN 68 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX OR REPAIR AND
MAINTENANCE EXPENSES AND INCLUDES ONLY 5% OF ESTIMATED ANNUAL INSURANCE
EXPENSE.
LOAN 69 - 1:
LOAN 70 - 1: Status Comment: This loan is consistently delinquent and
late charges are accumulating.
LOAN 71 - 1:
LOAN 72 - 1:
LOAN 73 - 1:
LOAN 74 - 1: Partial Year Statement Comment: 12/31/95 - REVENUE IS 16%
ABOVE BASELINE EXPECTATION AND 26% ABOVE PREVIOUS YEAR.
LOAN 75 - 1:
LOAN 76 - 1:
Page - 32
<PAGE>
LOAN 77 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX OR INSURANCE EXPENSE.
LOAN 78 - 1:
LOAN 79 - 1:
LOAN 80 - 1:
LOAN 81 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
STATEMENT INCLUDES LESS THAN ONE PERCENT OF ESTIMATED PROPERTY TAX EXPENSE
BASED ON SERVICING INFORMATION.
LOAN 82 - 1: Partial Year Statement Comment: 12/31/95 - $39,620 IN
PROFESSIONAL FEES MOVED TO CAPITAL EXPENSE BASED ON DISCUSSION WITH BORROWER
WHO INDICATES THESE ARE NON-RECURRING FINANCING COSTS. IN ADDITION,
REPAIRS AND MAINTENANCE INCREASED 44% FROM 1994 AND 62% FROM BASELINE
EXPECTATIONS.
LOAN 83 - 2: Partial Year Statement Comment: 12/31/95 - OPERATING
STATEMENT INCLUDES $7,500 GREATER PROPERTY TAX EXPENSE THAN ESTIMATED FROM
SERVICING INFORMATION.
LOAN 83 - 1: Partial Year Statement Comment: 12/31/95 - RECLASSIFIED
FINANCING EXPENSE AND LARGE ONE TIME REPAIR/REPLACEMENT EXPENSE AS CAPITAL
ITEMS.
LOAN 84 - 1:
LOAN 85 - 1:
Page - 33
