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) June 25, 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 June 25, 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
June 25, 1996.
Loan data file as of the June 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: June 25, 1996
EXHIBIT INDEX
Sequential
Page Number
Document
Monthly Remittance Statement to the Certificateholders 3
dated as of June 25, 1996
Loan data file as of June 1996 22
Page - 2
ABN AMRO
LaSalle National Bank
Administrator:
Mary Collier (800) 246-5761
135 S. LaSalle Street Suite 1740
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: 06/25/96
Payment Date: 06/25/96
Prior Payment: 05/28/96
Record Date: 05/31/96
WAC: 8.801579%
WAMM: 143
<TABLE>
<CAPTION>
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1,000 Per $1,000 Per $1,000
<S> <C> <C> <C>
A-1 75,000,000.00 73,682,902.35 276,474.66
74436JCT2 1000.000000 982.438698 3.686329
A-2 65,040,000.00 65,040,000.00 0.00
74436JCU9 1000.000000 1000.000000 0.000000
A-EC 222,286,173.00 N 220,969,075.35 0.00
74436JCV7 1000.000000 994.074766 0.000000
B 8,891,000.00 8,891,000.00 0.00
74436JCW5 1000.000000 1000.000000 0.000000
C 13,337,000.00 13,337,000.00 0.00
74436JCX3 1000.000000 1000.000000 0.000000
D 8,892,000.00 8,892,000.00 0.00
74436JCY1 1000.000000 1000.000000 0.000000
E 15,560,000.00 15,560,000.00 0.00
74436JCZ8 1000.000000 1000.000000 0.000000
F 5,557,000.00 5,557,000.00 0.00
74436JDA2 1000.000000 1000.000000 0.000000
G 12,226,000.00 12,226,000.00 0.00
74436JDB0 1000.000000 1000.000000 0.000000
H 11,114,000.00 11,114,000.00 0.00
74436JDDC8 1000.000000 1000.000000 0.000000
J-1 6,669,173.25 6,669,173.25 0.00
74436JDD6 1000.000000 1000.000000 0.000000
J-2 6,669,173.25 N 6,669,173.25 0.00
74436JDE4 1000.000000 1000.000000 0.000000
R 0.00 0.00 0.00
74436JDF1 1000.000000 0.000000 0.000000
- -- ---------------- ---------------- --------------
222,286,173.25 220,969,075.60 276,474.66
================ ================ ==============
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 3
<PAGE>
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 0.00 0.00 73,406,427.69
74436JCT2 0.000000 0.000000 978.752369
A-2 0.00 0.00 65,040,000.00
74436JCU9 0.000000 0.000000 1000.000000
A-EC 0.00 0.00 220,692,600.69
74436JCV7 0.000000 0.000000 992.830988
B 0.00 0.00 8,891,000.00
74436JCW5 0.000000 0.000000 1000.000000
C 0.00 0.00 13,337,000.00
74436JCX3 0.000000 0.000000 1000.000000
D 0.00 0.00 8,892,000.00
74436JCY1 0.000000 0.000000 1000.000000
E 0.00 0.00 15,560,000.00
74436JCZ8 0.000000 0.000000 1000.000000
F 0.00 0.00 5,557,000.00
74436JDA2 0.000000 0.000000 1000.000000
G 0.00 0.00 12,226,000.00
74436JDB0 0.000000 0.000000 1000.000000
H 0.00 0.00 11,114,000.00
74436JDDC8 0.000000 0.000000 1000.000000
J-1 0.00 0.00 6,669,173.25
74436JDD6 0.000000 0.000000 1000.000000
J-2 0.00 0.00 6,669,173.25
74436JDE4 0.000000 0.000000 1000.000000
R 0.00 0.00 0.00
74436JDF1 0.000000 0.000000 0.000000
- -- ---------------- ---------------- ----------------
0.00 0.00 220,692,600.94
================ ================ ================
Total P&I Payment 1,852,738.53
============
<TABLE>
<CAPTION>
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
<S> <C> <C> <C>
A-1 ......... 400,650.78 0.00 6.525000%
74436JCT2 ... 5.342010 0.000000 Fixed
A-2 ......... 370,728.00 0.00 6.840000%
74436JCU9 ... 5.700000 0.000000 Fixed
A-EC ........ 271,366.12 0.00 1.473687%
74436JCV7 ... 1.220796 0.000000 1.473014%
B ........... 51,160.30 0.00 6.905000%
74436JCW5 ... 5.754167 0.000000 Fixed
C ........... 77,965.88 0.00 7.015000%
74436JCX3 ... 5.845833 0.000000 Fixed
D ........... 53,092.65 0.00 7.165000%
74436JCY1 ... 5.970833 0.000000 Fixed
E ........... 98,676.33 0.00 7.610000%
74436JCZ8 ... 6.341666 0.000000 Fixed
F ........... 39,672.88 0.00 8.567115%
74436JDA2 ... 7.139262 0.000000 8.567162%
G ........... 87,284.63 0.00 8.567115%
74436JDB0 ... 7.139263 0.000000 8.567162%
H ........... 79,345.77 0.00 8.567115%
74436JDDC8 .. 7.139263 0.000000 8.567162%
J-1 ......... 0.00 0.00 None
74436JDD6 ... 0.000000 0.000000 0.000000%
J-2 ......... 46,320.53 0.00 8.567115%
74436JDE4 ... 6.945468 0.000000 8.567162%
R ........... 0.00 0.00 None
74436JDF1 ... 0.000000 0.000000 0.000000%
- ------------- ---------------- ---------------- ----------------
1,576,263.87 0.00 0.00
================ ================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus
Deferred Interest equals Accrual
(3) Estimated
</FN>
</TABLE>
Page - 4
<PAGE>
<TABLE>
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
<CAPTION>
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1,000 Per $1,000 Per $1,000
<S> <C> <C> <C>
A-L-1 ....... 75,000,000.00 73,682,902.35 276,474.66
None ........ 1000.000000 982.438698 3.686329
A-L-2 ....... 65,040,000.00 65,040,000.00 0.00
None ........ 1000.000000 1000.000000 0.000000
B-L ......... 8,891,000.00 8,891,000.00 0.00
None ........ 1000.000000 1000.000000 0.000000
C-L ......... 13,337,000.00 13,337,000.00 0.00
None ........ 1000.000000 1000.000000 0.000000
D-L ......... 8,892,000.00 8,892,000.00 0.00
None ........ 1000.000000 1000.000000 0.000000
E-L ......... 15,560,000.00 15,560,000.00 0.00
None ........ 1000.000000 1000.000000 0.000000
F-L ......... 5,557,000.00 5,557,000.00 0.00
None ........ 1000.000000 1000.000000 0.000000
G-L ......... 12,226,000.00 12,226,000.00 0.00
None ........ 1000.000000 55.001172 0.000000
H-L ......... 11,114,000.00 11,114,000.00 0.00
None ........ 1000.000000 1000.000000 0.000000
J-L ......... 6,669,173.00 6,669,173.25 0.00
None ........ 1000.000000 1000.000037 0.000000
LR .......... 0.00 0.00 0.00
74436JDG9 ... 1000.000000 0.000000 0.000000
- ------------- ---------------- ---------------- ----------------
222,286,173.00 220,969,075.60 276,474.66
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
A-L-1 ....... 0.00 0.00 73,406,427.69
None ........ 0.000000 0.000000 978.752369
A-L-2 ....... 0.00 0.00 65,040,000.00
None ........ 0.000000 0.000000 1000.000000
B-L ......... 0.00 0.00 8,891,000.00
None ........ 0.000000 0.000000 1000.000000
C-L ......... 0.00 0.00 13,337,000.00
None ........ 0.000000 0.000000 1000.000000
D-L ......... 0.00 0.00 8,892,000.00
None ........ 0.000000 0.000000 1000.000000
E-L ......... 0.00 0.00 15,560,000.00
None ........ 0.000000 0.000000 1000.000000
F-L ......... 0.00 0.00 5,557,000.00
None ........ 0.000000 0.000000 1000.000000
G-L ......... 0.00 0.00 12,226,000.00
None ........ 0.000000 0.000000 55.001172
H-L ......... 0.00 0.00 11,114,000.00
None ........ 0.000000 0.000000 1000.000000
J-L ......... 0.00 0.00 6,669,173.25
None ........ 0.000000 0.000000 1000.000037
LR .......... 0.00 0.00 0.00
74436JDG9 ... 0.000000 0.000000 0.000000
- ------------- ---------------- ---------------- ----------------
0.00 0.00 220,692,600.94
================ ================ ================
Total P&I Payment 1,852,738.53
============
Page - 5
<PAGE>
<TABLE>
<CAPTION>
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
<S> <C> <C> <C>
A-L-1 ....... 526,041.61 0.00 8.567115%
None ........ 7.013888 0.000000 8.567162%
A-L-2 ....... 464,337.66 0.00 8.567115%
None ........ 7.139263 0.000000 8.567162%
B-L ......... 63,475.19 0.00 8.567115%
None ........ 7.139263 0.000000 8.567162%
C-L ......... 95,216.35 0.00 8.567115%
None ........ 7.139263 0.000000 8.567162%
D-L ......... 63,482.33 0.00 8.567115%
None ........ 7.139263 0.000000 8.567162%
E-L ......... 111,086.93 0.00 8.567115%
None ........ 7.139263 0.000000 8.567162%
F-L ......... 39,672.88 0.00 8.567115%
None ........ 7.139262 0.000000 8.567162%
G-L ......... 87,284.63 0.00 8.567115%
None ........ 0.392668 0.000000 8.567162%
H-L ......... 79,345.77 0.00 8.567115%
None ........ 7.139263 0.000000 8.567162%
J-L ......... 46,320.52 0.00 8.567115%
None ........ 6.945466 0.000000 8.567162%
LR .......... 0.00 0.00 None
74436JDG9 ... 0.000000 0.000000 0.000000%
- ------------- ---------------- ---------------- ----------------
1,576,263.87 0.00
================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus
Deferred Interest equals Accrual
(3) Estimated
</FN>
</TABLE>
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
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 1,460.00 0.000131
J-1 NA 0.000000
J-2 46,320.53 0.006945
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 1,292.45 0.000194
Remittance Interest 1,576,263.87
Remittance Principal 276,474.66
Pooled Available Funds 1,852,738.53
Page - 6
<PAGE>
Beginning Pool
Count Balance
85 220,969,075.59
Ending Pool
Count Balance
85 220,692,600.93
Additional Special
Servicing Servicing Servicing Disposition
Fee Compensation Fee Fee
42,012.66 0.00 1,292.4 0.00
Prepayment Net
Premiums Default Default
Received Interest Interest
0.00 0.00 0.00
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
TOTAL
DELINQUENCY /PREPAYMENT / RATE HISTORY REPORTING
Distribution Delinq 1 Month Delinq 2 Months Delinq 3+ Months
Date # Balance # Balance # Balance
06/25/96 .. 1 1,143,625 2 4,425,609 0 0
/ ......... 1.18% 0.518% 2.35% 2.003% 0.00% 0.000%
05/28/96 .. 1 1,144,707 0 0 0 0
/ ......... 1.18% 0.517% 0.00% 0.000% 0.00% 0.000%
04/25/96 .. 0 0 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
03/25/96 .. 0 0 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
02/26/96 .. 0 0 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/25/96 .. 0 0 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
<TABLE>
<CAPTION>
Distribution Foreclosure/Bankruptcy (1) REO (1)
Date # Balance # Balance
<S> <C> <C> <C> <C>
06/25/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
05/28/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
04/25/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
03/25/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
02/26/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
01/25/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
<FN>
(1) Foreclosure and REO Totals are Included in the
Appropriate Delinquency Aging Category
</FN>
</TABLE>
Page - 7
<PAGE>
Distribution Modifications Prepayments
Date # Balance # Balance
06/25/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
05/28/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
04/25/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
03/25/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
02/26/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
01/25/96 .. 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000%
Distribution Next Weighted Avg.
Date Coupon Remit
06/25/96 8.80163% 8.5672%
05/28/96 8.80158% 8.5671%
04/25/96 8.80153% 8.5671%
03/25/96 8.80147% 8.5670%
02/26/96 8.80142% 8.5670%
01/25/96 8.80137% 8.5669%
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
Paid
Disclosure Doc Thru Current P&I
Control # Period Date Advance
31 199605 03/01/96 24,000.54
53 199605 03/01/96 14,446.33
70 199605 04/01/96 9,333.65
- -- ---------------- ---------------- ----------------
TOTALS: 47,780.52
================
<TABLE>
<CAPTION>
Outstanding
Outstanding Property
Disclosure Doc P&I Protection Advance Loan
Control # Advances(3) Advances Description (1) Status (2)
<S> <C> <C> <C> <C>
31 48,000.34 0.00 2 0
53 28,892.23 0.00 2 0
70 18,667.08 0.00 1 0
- -- ------------ ------------ ------------ ------------
TOTALS: 95,559.65 0.00 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
(3) Outstanding P&I Advances include the current period P&I Advance
</FN>
</TABLE>
Page - 8
<PAGE>
Special
Servicer
Disclosure Doc Transfer Foreclosure Bankruptcy REO
Control # Date Date Date Date
31
53
70
- --
TOTALS:
=====
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
DISTRIBUTION OF PRINCIPAL BALANCES
Current
Scheduled Scheduled
Principal Number Principal Based on
Balances of Loans Balance Balance
$0 to $500,000 ............ 0 0 0.00%
$500,000 to $750,000 ...... 5 3,432,256 1.56%
$750,000 to $1,000,000 .... 7 6,140,876 2.78%
$1,000,000 to $1,250,000 .. 6 6,820,062 3.09%
$1,250,000 to $1,500,000 .. 13 17,848,158 8.09%
$1,500,000 to $1,750,000 .. 6 10,042,614 4.55%
$1,750,000 to $2,000,000 .. 3 5,653,914 2.56%
$2,000,000 to $2,500,000 .. 10 22,094,732 10.01%
$2,500,000 to $3,000,000 .. 10 27,555,427 12.49%
$3,000,000 to $3,500,000 .. 5 16,114,873 7.30%
$3,500,000 to $4,000,000 .. 6 22,648,986 10.26%
$4,000,000 to $4,500,000 .. 4 17,574,319 7.96%
$4,500,000 to $5,000,000 .. 1 4,719,036 2.14%
$5,000,000 to $5,500,000 .. 2 10,734,881 4.86%
$5,500,000 to $6,000,000 .. 0 0 0.00%
$6,000,000 to $6,500,000 .. 2 12,485,070 5.66%
$6,500,000 to $7,000,000 .. 2 13,222,674 5.99%
$7,000,000 to $7,500,000 .. 1 7,318,171 3.32%
$7,500,000 to $8,000,000 .. 0 0 0.00%
$8,000,000 & above ........ 2 16,286,553 7.38%
- --------------------------- --- ----------- ------
85 220,692,601 100.00%
=== =========== ======
Average Scheduled Balance is 2,596,384
Maximum Scheduled Balance is 8,210,052
Minimum Scheduled Balance is 594,281
DISTRIBUTION OF PROPERTY TYPES
Scheduled
Property Number Principal Based on
Types of Loans Balance Balance
Retail ................... 31 96,313,739 43.64%
Multi-Family Housing ..... 22 46,450,482 21.05%
Light Industrial ......... 9 17,053,183 7.73%
Office ................... 7 13,777,463 6.24%
Congregate Care .......... 3 12,982,469 5.88%
Office/Retail ............ 2 10,107,993 4.58%
Office/Multi-Fam\Retail .. 1 7,318,171 3.32%
Self Service Storage ..... 3 4,089,722 1.85%
Mobile Home Park ......... 2 3,623,505 1.64%
Ind./Warehouse/Office .... 2 3,103,355 1.41%
Hospitality .............. 1 2,949,922 1.34%
Other .................... 2 2,922,599 1.32%
--- ----------- ------
Total .................... 85 220,692,601 100.00%
=== =========== ======
Page - 9
<PAGE>
DISTRIBUTION OF MORTGAGE INTEREST RATES
Current
Mortgage Scheduled
Interest Number Principal Based on
Rate of Loans Balance Balance
7.500% or less ...... 0 0 0.00%
7.501% to 7.750% .... 0 0 0.00%
7.751% to 8.000% .... 3 13,362,233 6.05%
8.001% to 8.250% .... 6 23,943,727 10.85%
8.251% to 8.500% .... 10 25,196,065 11.42%
8.501% to 8.750% .... 14 51,953,765 23.54%
8.751% to 9.000% .... 16 27,730,566 12.57%
9.001% to 9.250% .... 15 31,928,092 14.47%
9.251% to 9.500% .... 8 18,545,149 8.40%
9.501% to 9.750% .... 10 22,875,989 10.37%
9.751% to 10.000% ... 2 4,019,024 1.82%
10.001% to 10.250% .. 1 1,137,989 0.52%
10.251% to 10.500% .. 0 0 0.00%
10.501% to 10.750% .. 0 0 0.00%
10.751% & above ..... 0 0 0.00%
- --------------------- --- ----------- ------
Total ............... 85 220,692,601 100.00%
=== =========== ======
Weighted Average Mortgage Interest Rate is 8.8016%
Minimum Mortgage Interest Rate is 7.8900%
Maximum Mortgage Interest Rate is 10.0600%
GEOGRAPHIC DISTRIBUTION
Scheduled
Geographic Number Principal Based on
Location of Loans Balance Balance
California ............ 11 36,965,091 16.75%
Texas ................. 14 31,145,352 14.11%
Massachusetts ......... 4 19,439,949 8.81%
Florida ............... 5 18,601,294 8.43%
New York .............. 5 15,246,385 6.91%
Tennessee ............. 2 9,401,733 4.26%
District of Columbia .. 2 9,200,800 4.17%
Minnesota ............. 5 8,696,561 3.94%
Oklahoma .............. 4 8,294,244 3.76%
Virginia .............. 2 5,789,407 2.62%
Maryland .............. 2 5,783,348 2.62%
Louisiana ............. 2 5,186,734 2.35%
Colorado .............. 3 4,367,391 1.98%
Rhode Island .......... 1 3,960,649 1.79%
Arkansas .............. 1 3,861,851 1.75%
Missouri .............. 2 3,849,056 1.74%
Indiana ............... 2 3,545,935 1.61%
New Jersey ............ 2 3,131,089 1.42%
New Mexico ............ 2 3,019,980 1.37%
Nebraska .............. 1 2,771,873 1.26%
Kentucky .............. 1 2,768,967 1.25%
Arizona ............... 2 2,582,523 1.17%
Michigan .............. 1 2,557,294 1.16%
Kansas ................ 1 2,237,527 1.01%
Alaska ................ 1 1,658,512 0.75%
Ohio .................. 2 1,487,655 0.67%
Illinois .............. 1 1,358,358 0.62%
Washington ............ 1 1,292,542 0.59%
Mississippi ........... 1 988,796 0.45%
Connecticut ........... 1 783,127 0.35%
New Hampshire ......... 1 718,578 0.33%
--- ----------- ------
Total ................. 85 220,692,601 100.00%
=== =========== ======
Page - 10
<PAGE>
LOAN SEASONING
Scheduled
Number Principal Based on
Number of Years of Loans Balance Balance
1 year or less ..... 84 214,004,553 96.97%
1+ to 2 years ...... 0 0 0.00%
2+ to 3 years ...... 1 6,688,048 3.03%
3+ to 4 years ...... 0 0 0.00%
4+ to 5 years ...... 0 0 0.00%
5+ to 6 years ...... 0 0 0.00%
6+ to 7 years ...... 0 0 0.00%
7+ to 8 years ...... 0 0 0.00%
8+ to 9 years ...... 0 0 0.00%
9+ to 10 years ..... 0 0 0.00%
10 years or more ... 0 0 0.00%
- -------------------- --- ----------- ------
Total .............. 85 220,692,601 100.00%
=== =========== ======
Weighted Average Seasoning is 0.6
DISTRIBUTION OF AMORTIZATION TYPE
Scheduled
Number Principal Based on
Amortization Type of Loans Balance Balance
Fully Amortizing .... 9 26,343,020 11.94%
Amortizing Balloon .. 76 194,349,581 88.06%
--- ----------- ------
Total ............... 85 220,692,601 100.00%
=== =========== ======
DISTRIBUTION OF REMAINING TERM
FULLY AMORTIZING
Fully
Amortizing Scheduled
Mortgage Number Principal Based on
Loans of Loans Balance Balance
60 months or less .. 0 0 0.00%
61 to 120 months ... 0 0 0.00%
121 to 180 months .. 4 6,247,279 2.83%
181 to 240 months .. 5 20,095,741 9.11%
241 to 360 months .. 0 0 0.00%
- -------------------- --- ---------- -----
Total .............. 9 26,343,020 11.94%
=== ========== =====
Weighted Average Months to Maturity is 201
DISTRIBUTION OF REMAINING TERM
BALLOON LOANS
Scheduled
Balloon Number Principal Based on
Mortgage Loans of Loans Balance Balance
12 months or less .. 0 0 0.00%
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 4,719,036 2.14%
61 to 120 months ... 24 71,865,438 32.56%
121 to 180 months .. 51 117,765,107 53.36%
181 to 240 months .. 0 0 0.00%
- -------------------- --- ----------- -----
Total .............. 76 194,349,581 88.06%
=== =========== =====
Weighted Average Months to Maturity is 180
Page - 11
<PAGE>
<TABLE>
DISTRIBUTION OF DSCR
<CAPTION>
Debt Service Scheduled
Coverage Number Principal Based on
Ratio (1) of Loans Balance Balance
<S> <C> <C> <C>
1.000% or less ..... 0 0 0.00%
1.001% to 1.125% ... 0 0 0.00%
1.126% to 1.250% ... 10 27,827,032 12.61%
1.251% to 1.375% ... 42 102,698,452 46.53%
1.376% to 1.500% ... 23 56,335,428 25.53%
1.501% to 1.625% ... 7 30,047,022 13.61%
1.626% to 1.750% ... 1 1,143,625 0.52%
1.751% to 1.875% ... 2 2,641,043 1.20%
1.876% to 2.000% ... 0 0 0.00%
2.001% to 2.125% ... 0 0 0.00%
2.126% to 2.250% ... 0 0 0.00%
2.251% to 2.375% ... 0 0 0.00%
2.376% to 2.500% ... 0 0 0.00%
2.501% to 2.625% ... 0 0 0.00%
2.626% & above ..... 0 0 0.00%
Unknown ............ 0 0 0.00%
--- ----------- ------
Total .............. 85 220,692,601 100.00%
=== =========== ======
<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>
Weighted Average Debt Service Coverage Ratio is 1.369%
NOI AGING
Scheduled
Number Principal Based on
NOI Date of Loans Balance Balance
1 year or less ... 55 116,405,556 52.75%
1+ to 2 years .... 12 30,508,352 13.82%
2+ to above ...... 18 73,778,693 33.43%
Unknown .......... 0 0 0.00%
--- ----------- ------
Total ............ 85 220,692,601 100.00%
=== =========== ======
Page - 12
<PAGE>
LOAN LEVEL DETAIL
Special
Offering Servicer
Circular Property Transfer Maturity
Control # Type Date State Date
1 Retail NA MA 01/01/2011
2 Retail NA MA 01/01/2011
3 Restaurant NA DC 11/01/2015
4 Multi-Family Housing NA NY 11/01/2005
5 Restaurant NA FL 12/01/2005
6 Restaurant NA TN 11/01/2002
7 Retail NA CA 10/01/2010
8 Retail NA TX 01/01/2003
9 Multi-Family Housing NA TX 12/01/2002
10 Multi-Family Housing NA OK 12/01/2000
11 Office NA CA 01/01/2008
12 Retail NA CA 10/01/2010
13 Restaurant NA CA 11/01/2012
14 Retail NA CA 11/01/2010
15 Retail NA RI 11/01/2011
16 Retail NA TX 12/01/2007
17 Retail NA AR 09/01/2010
18 Retail NA LA 12/01/2005
19 Restaurant NA VA 11/01/2002
20 Restaurant NA MD 10/01/2005
21 Retail NA CA 11/01/2010
22 Multi-Family Housing NA TX 12/01/2002
23 Retail NA FL 08/01/2010
24 Retail NA FL 08/01/2010
25 Retail NA FL 08/01/2010
26 Hospitality NA TN 06/01/2010
27 Retail NA CA 10/01/2010
28 Restaurant NA NY 12/01/2014
29 Retail NA NE 12/01/2005
30 Multi-Family Housing NA MO 10/01/2005
31 Multi-Family Housing NA KY 09/01/2010
32 Multi-Family Housing NA NY 12/01/2005
33 Restaurant NA FL 10/01/2007
34 Office NA MN 09/01/2010
35 Retail NA MI 11/01/2005
36 Retail NA CA 12/01/2007
37 Retail NA MN 09/06/2007
38 Restaurant NA CO 12/01/2002
39 Multi-Family Housing NA KS 12/01/2002
40 Restaurant NA MD 11/01/2010
41 Restaurant NA MN 10/01/2007
42 Retail NA VA 10/01/2005
43 Retail NA NY 08/01/2005
44 Retail NA TX 11/01/2007
45 Retail NA MA 09/01/2010
46 Office NA IN 12/01/2007
47 Restaurant NA NM 12/01/2007
48 Self Service Storage NA DC 12/01/2010
49 Retail NA NJ 11/01/2007
50 Office NA CA 12/01/2007
51 Restaurant NA AZ 11/01/2010
52 Retail NA AK 09/01/2010
53 Multi-Family Housing NA IN 09/01/2010
54 Retail NA CA 12/01/2011
55 Multi-Family Housing NA OK 12/01/2010
56 Restaurant NA TX 11/01/2010
57 Multi-Family Housing NA LA 12/01/2007
58 Restaurant NA OK 09/01/2010
59 Office NA TX 08/01/2005
60 Multi-Family Housing NA NJ 09/01/2005
61 Retail NA IL 07/01/2010
62 Restaurant NA TX 09/01/2007
63 Multi-Family Housing NA TX 12/01/2010
64 Multi-Family Housing NA TX 11/01/2010
65 Restaurant NA CO 12/01/2002
66 Retail NA WA 12/01/2007
67 Multi-Family Housing NA TX 12/01/2007
68 Restaurant NA CA 09/01/2007
69 Multi-Family Housing NA TX 11/01/2010
70 Multi-Family Housing NA MA 12/01/2005
71 Self Service Storage NA NM 09/01/2010
72 Self Service Storage NA MO 07/01/2010
73 Retail NA TX 12/01/2007
74 Multi-Family Housing NA MS 07/01/2005
75 Office NA AZ 08/01/2007
Page - 13
<PAGE>
LOAN LEVEL DETAIL, Continued
Special
Offering Servicer
Circular Property Transfer Maturity
Control # Type Date State Date
76 Restaurant NA NY 11/01/2007
77 Restaurant NA OH 10/01/2007
78 Restaurant NA TX 12/01/2010
79 Office NA MN 12/01/2010
80 Retail NA CT 08/01/2010
81 Multi-Family Housing NA CO 09/01/2007
82 Retail NA MN 09/01/2007
83 Multi-Family Housing NA NH 08/01/2003
84 Multi-Family Housing NA OK 09/01/2005
85 Multi-Family Housing NA OH 08/01/2007
Offering Beginning Scheduled
Circular Scheduled Note Principal Prepayments
Control # Balance Rate Payment Liquidations
1 8,218,156 8.5900% 8,104 0
2 8,084,474 8.5900% 7,972 0
3 7,330,117 8.7500% 11,946 0
4 6,696,516 8.3500% 8,468 0
5 6,537,234 8.5100% 2,608 0
6 6,458,834 8.0800% 7,024 0
7 6,038,620 9.3900% 5,361 0
8 5,436,065 8.0500% 16,253 0
9 5,320,987 7.8900% 5,918 0
10 4,724,282 7.9000% 5,246 0
11 4,482,573 8.5700% 4,435 0
12 4,443,231 9.3900% 3,945 0
13 4,339,071 8.2000% 10,399 0
14 4,332,135 9.2300% 3,914 0
15 3,967,323 8.4200% 6,674 0
16 3,881,663 8.7700% 3,748 0
17 3,866,221 9.2400% 4,370 0
18 3,713,122 8.6500% 7,536 0
19 3,673,537 8.2000% 3,919 0
20 3,576,783 8.9400% 3,416 0
21 3,404,065 8.3000% 3,574 0
22 3,331,833 7.8900% 3,705 0
23 3,203,491 9.5700% 2,786 0
24 3,173,691 9.5700% 2,760 0
25 3,017,242 9.5700% 2,624 0
26 2,954,287 9.9300% 4,365 0
27 2,923,068 8.6400% 2,930 0
28 2,865,735 9.5500% 4,695 0
29 2,776,642 8.2500% 4,768 0
30 2,782,526 9.1400% 2,573 0
31 2,772,520 9.1000% 3,553 0
32 2,687,755 8.9900% 2,504 0
33 2,682,927 9.0600% 2,513 0
34 2,582,803 9.6200% 2,228 0
35 2,561,699 8.3100% 4,405 0
36 2,488,168 8.7300% 2,418 0
37 2,383,400 9.3500% 2,148 0
38 2,340,458 8.3100% 3,990 0
39 2,239,645 8.9000% 2,117 0
40 2,215,837 9.7000% 5,856 0
41 2,186,134 9.0800% 2,041 0
42 2,121,742 9.1700% 1,952 0
43 2,120,047 9.0800% 2,013 0
44 2,013,957 9.0000% 1,889 0
45 2,011,517 9.5800% 1,746 0
46 1,891,111 8.8000% 1,817 0
47 1,885,047 8.7200% 3,056 0
48 1,885,579 9.0100% 2,949 0
49 1,745,191 8.8500% 1,677 0
50 1,692,098 8.8400% 1,615 0
51 1,671,177 8.4500% 4,923 0
52 1,660,976 9.6600% 2,465 0
53 1,658,744 9.1800% 2,103 0
54 1,631,082 9.3900% 3,873 0
55 1,492,472 8.3700% 1,537 0
56 1,485,729 8.6900% 2,439 0
57 1,483,583 8.6200% 2,435 0
58 1,440,536 9.7000% 1,226 0
59 1,403,892 9.3200% 1,283 0
60 1,388,861 9.2400% 1,286 0
Page - 14
<PAGE>
Offering Beginning Scheduled
Circular Scheduled Note Principal Prepayments
Control # Balance Rate Payment Liquidations
61 1,362,290 9.1700% 2,340 1,592
62 1,340,350 9.1500% 1,248 0
63 1,305,849 8.1500% 3,909 0
64 1,317,619 8.8700% 1,262 0
65 1,289,235 8.3100% 2,198 0
66 1,293,807 8.6900% 1,266 0
67 1,269,151 8.9200% 1,196 0
68 1,235,339 9.3800% 1,898 0
69 1,193,014 8.6000% 1,194 0
70 1,144,707 8.9000% 1,082 0
71 1,139,598 10.0600% 1,609 0
72 1,072,027 9.8300% 2,925 0
73 1,045,087 8.8000% 1,004 0
74 989,850 8.4100% 1,055 0
75 917,171 8.8600% 902 0
76 894,887 8.7500% 874 0
77 894,224 8.9700% 850 0
78 846,017 8.7900% 814 0
79 820,926 8.4700% 832 0
80 783,839 9.3600% 712 0
81 744,586 9.0900% 700 0
82 731,631 9.6700% 1,084 0
83 719,243 9.2500% 665 0
84 645,541 9.4000% 577 0
85 594,872 8.8000% 591 0
- -- ------------ -------- -------- ------
220,969,076 274,883 1,592
============ ======== ======
<TABLE>
<CAPTION>
Offering Paid Prepayment Loan
Circular Prepayment Through Premium Status
Control # Date Date Amount Code (1)
<S> <C> <C> <C> <C>
1 06/01/96
2 06/01/96
3 06/01/96
4 06/01/96
5 06/01/96
6 06/01/96
7 06/01/96
8 06/01/96
9 06/01/96
10 06/01/96
11 06/01/96
12 06/01/96
13 06/01/96
14 06/01/96
15 06/01/96
16 06/01/96
17 06/01/96
18 06/01/96
19 06/01/96
20 06/01/96
21 06/01/96
22 06/01/96
23 06/01/96
24 06/01/96
25 06/01/96
26 06/01/96
27 06/01/96
28 06/01/96
29 06/01/96
30 06/01/96
31 03/01/96 1
32 06/01/96
<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 - 15
<PAGE>
<TABLE>
Continued from previous page.
<CAPTION>
Offering Paid Prepayment Loan
Circular Prepayment Through Premium Status
Control # Date Date Amount Code (1)
<S> <C> <C> <C> <C>
33 06/01/96
34 06/01/96
35 06/01/96
36 06/01/96
37 06/06/96
38 06/01/96
39 06/01/96
40 06/01/96
41 06/01/96
42 06/01/96
43 06/01/96
44 06/01/96
45 06/01/96
46 06/01/96
47 06/01/96
48 06/01/96
49 06/01/96
50 06/01/96
51 06/01/96
52 06/01/96
53 03/01/96 1
54 06/01/96
55 06/01/96
56 06/01/96
57 06/01/96
58 06/01/96
59 06/01/96
60 06/01/96
61 06/01/96
62 06/01/96
63 06/01/96
64 06/01/96
65 06/01/96
66 06/01/96
67 06/01/96
68 06/01/96
69 06/01/96
70 04/01/96
71 06/01/96
72 06/01/96
73 06/01/96
74 06/01/96
75 06/01/96
76 06/01/96
77 06/01/96
78 06/01/96
79 06/01/96
80 06/01/96
81 06/01/96
82 06/01/96
83 06/01/96
84 06/01/96
85 06/01/96
<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 - 16
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN STATUS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: JUNE, 1996
DATE PRINTED: 21-JUN-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 8,210,052 0 67.3% 1.51 N/A PERFORMING PERFORM TO MATURITY
02 8,076,502 0 51.8% 1.37 N/A PERFORMING PERFORM TO MATURITY
03 7,318,171 0 65.3% 1.33 N/A PERFORMING PERFORM TO MATURITY
04 6,688,048 0 53.7% 1.54 N/A PERFORMING PERFORM TO MATURITY
05 6,534,626 0 68.8% 1.49 N/A PERFORMING PERFORM TO MATURITY
06 6,451,811 0 57.1% 1.59 N/A PERFORMING PERFORM TO MATURITY
07 6,033,259 0 68.2% 1.37 N/A PERFORMING PERFORM TO MATURITY
08 5,419,812 0 59.2% 1.22 N/A PERFORMING PERFORM TO MATURITY
09 5,315,069 0 72.8% 1.39 N/A PERFORMING PERFORM TO MATURITY
10 4,719,036 0 70.4% 1.32 N/A PERFORMING PERFORM TO MATURITY
11 4,478,139 0 72.2% 1.48 N/A PERFORMING PERFORM TO MATURITY
12 4,439,287 0 64.3% 1.41 N/A PERFORMING PERFORM TO MATURITY
13 4,328,672 0 60.5% 1.30 N/A PERFORMING PERFORM TO MATURITY
14 4,328,221 0 64.6% 1.43 N/A PERFORMING PERFORM TO MATURITY
15 3,960,649 0 72.0% 1.29 N/A PERFORMING PERFORM TO MATURITY
16 3,877,915 0 72.5% 1.41 N/A PERFORMING PERFORM TO MATURITY
17 3,861,851 0 55.2% 1.59 N/A PERFORMING PERFORM TO MATURITY
18 3,705,586 0 74.1% 1.34 N/A PERFORMING PERFORM TO MATURITY
19 3,669,618 0 72.0% 1.53 N/A PERFORMING PERFORM TO MATURITY
20 3,573,367 0 66.2% 1.47 N/A PERFORMING PERFORM TO MATURITY
21 3,400,491 0 69.7% 1.43 N/A PERFORMING PERFORM TO MATURITY
22 3,328,128 0 68.8% 1.40 N/A PERFORMING PERFORM TO MATURITY
23 3,200,705 0 74.4% 1.20 N/A PERFORMING PERFORM TO MATURITY
24 3,170,931 0 74.4% 1.20 N/A PERFORMING PERFORM TO MATURITY
25 3,014,618 0 74.4% 1.20 N/A PERFORMING PERFORM TO MATURITY
26 2,949,922 0 67.0% 1.56 N/A PERFORMING PERFORM TO MATURITY
27 2,920,138 0 69.4% 1.39 N/A PERFORMING PERFORM TO MATURITY
28 2,861,040 0 50.9% 1.35 N/A PERFORMING PERFORM TO MATURITY
29 2,771,873 0 74.2% 1.27 N/A PERFORMING PERFORM TO MATURITY
30 2,779,953 0 71.3% 1.39 N/A PERFORMING PERFORM TO MATURITY
31 2,779,547 77 74.0% 1.34 N/A NEGOTIATING MODIFICATIONS RESTRUCTURE/PERFORM TO MATURIT
32 2,685,251 0 75.0% 1.22 N/A PERFORMING PERFORM TO MATURITY
33 2,680,414 0 70.5% 1.49 N/A PERFORMING PERFORM TO MATURITY
34 2,580,575 0 73.7% 1.48 N/A PERFORMING PERFORM TO MATURITY
35 2,557,294 0 74.1% 1.34 N/A PERFORMING PERFORM TO MATURITY
36 2,485,750 0 64.7% 1.46 N/A PERFORMING PERFORM TO MATURITY
37 2,381,252 0 66.1% 1.42 N/A PERFORMING PERFORM TO MATURITY
38 2,336,468 0 50.8% 1.43 N/A PERFORMING PERFORM TO MATURITY
39 2,237,527 0 79.9% 1.21 N/A PERFORMING PERFORM TO MATURITY
40 2,209,981 0 61.4% 1.54 N/A PERFORMING PERFORM TO MATURITY
41 2,184,093 0 71.6% 1.53 N/A PERFORMING PERFORM TO MATURITY
42 2,119,789 0 64.2% 1.46 N/A PERFORMING PERFORM TO MATURITY
43 2,118,033 0 74.3% 1.44 N/A PERFORMING PERFORM TO MATURITY
44 2,012,068 0 71.9% 1.51 N/A PERFORMING PERFORM TO MATURITY
45 2,009,770 0 61.8% 1.51 N/A PERFORMING PERFORM TO MATURITY
46 1,889,293 0 64.0% 1.52 N/A PERFORMING PERFORM TO MATURITY
47 1,881,991 0 62.9% 1.47 N/A PERFORMING PERFORM TO MATURITY
48 1,882,630 0 61.7% 1.49 N/A PERFORMING PERFORM TO MATURITY
49 1,743,514 0 67.7% 1.38 N/A PERFORMING PERFORM TO MATURITY
50 1,690,483 0 67.6% 1.51 N/A PERFORMING PERFORM TO MATURITY
51 1,666,254 0 56.5% 1.24 N/A PERFORMING PERFORM TO MATURITY
52 1,658,512 0 74.0% 1.57 N/A PERFORMING PERFORM TO MATURITY
53 1,662,902 77 74.0% 1.32 N/A NEGOTIATING MODIFICATIONS RESTRUCTURE/PERFORM TO MATURIT
54 1,627,209 0 63.3% 1.38 N/A PERFORMING PERFORM TO MATURITY
55 1,490,935 0 67.9% 1.41 N/A PERFORMING PERFORM TO MATURITY
56 1,483,290 0 59.3% 1.51 N/A PERFORMING PERFORM TO MATURITY
57 1,481,148 0 74.3% 1.37 N/A PERFORMING PERFORM TO MATURITY
58 1,439,310 0 66.0% 1.39 N/A PERFORMING PERFORM TO MATURITY
59 1,402,609 0 58.4% 1.61 N/A PERFORMING PERFORM TO MATURITY
60 1,387,576 0 66.1% 1.32 N/A PERFORMING PERFORM TO MATURITY
61 1,358,358 0 69.7% 1.49 N/A PERFORMING PERFORM TO MATURITY
62 1,339,102 0 58.2% 1.93 N/A PERFORMING PERFORM TO MATURITY
63 1,301,941 0 43.9% 1.79 N/A PERFORMING PERFORM TO MATURITY
64 1,316,356 0 65.8% 1.27 N/A PERFORMING PERFORM TO MATURITY
</TABLE>
Page - 17
<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 1,287,037 0 62.0% 1.18 N/A PERFORMING PERFORM TO MATURITY
66 1,292,542 0 63.0% 1.57 N/A PERFORMING PERFORM TO MATURITY
67 1,267,955 0 57.6% 1.33 N/A PERFORMING PERFORM TO MATURITY
68 1,233,442 0 49.8% 1.47 N/A PERFORMING PERFORM TO MATURITY
69 1,191,820 0 62.7% 1.31 N/A PERFORMING PERFORM TO MATURITY
70 1,145,782 47 60.0% 1.64 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
71 1,137,989 0 64.1% 1.36 N/A PERFORMING PERFORM TO MATURITY
72 1,069,103 0 36.9% 1.44 N/A PERFORMING PERFORM TO MATURITY
73 1,044,083 0 70.3% 1.58 N/A PERFORMING PERFORM TO MATURITY
74 988,796 0 64.2% 1.30 N/A PERFORMING PERFORM TO MATURITY
75 916,269 0 72.7% 1.48 N/A PERFORMING PERFORM TO MATURITY
76 894,013 0 74.5% 1.50 N/A PERFORMING PERFORM TO MATURITY
77 893,374 0 59.6% 1.56 N/A PERFORMING PERFORM TO MATURITY
78 845,202 0 66.3% 1.60 N/A PERFORMING PERFORM TO MATURITY
79 820,094 0 74.6% 1.74 N/A PERFORMING PERFORM TO MATURITY
80 783,127 0 73.2% 1.29 N/A PERFORMING PERFORM TO MATURITY
81 743,886 0 57.2% 1.34 N/A PERFORMING PERFORM TO MATURITY
82 730,547 0 60.9% 1.48 N/A PERFORMING PERFORM TO MATURITY
83 718,578 0 55.3% 1.38 N/A PERFORMING PERFORM TO MATURITY
84 644,964 0 68.3% 1.38 N/A PERFORMING PERFORM TO MATURITY
85 594,281 0 50.4% 1.56 N/A PERFORMING PERFORM TO MATURITY
- -- ---------- -- ---- ---- --- ------------------------- ------------------------------
TOTAL 220,711,597
===== ===========
</TABLE>
Page - 18
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN TERMS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: JUNE, 1996
DATE PRINTED: 21-JUN-96
<CAPTION>
REMAIN
CURRENT ORIG LOAN INT
ASSET PRINCIPAL NOTE LOAN AMORT TERM IN INT RATE
NO BALANCE DATE DATE MONTHS RATE TYPE PAYMENT
<S> <C> <C> <C> <C> <C> <C> <C>
01 8,210,052 12/1/95 1/1/2021 174 8.590% F 66,932
02 8,076,502 12/1/95 1/1/2021 174 8.590% F 65,844
03 7,318,171 10/27/95 11/1/2015 232 8.750% F 65,395
04 6,688,048 10/14/93 11/1/2018 52 8.350% F 55,064
05 6,534,626 11/10/95 12/1/2019 113 8.510% F 48,968
06 6,451,811 10/31/95 11/1/2020 76 8.080% F 50,513
07 6,033,259 9/29/95 10/1/2020 171 9.390% F 52,613
08 5,419,812 12/6/95 1/1/2011 78 8.050% F 52,720
09 5,315,069 11/20/95 12/1/2020 77 7.890% F 40,903
10 4,719,036 11/2/95 12/1/2020 53 7.900% F 36,347
11 4,478,139 12/5/95 1/1/2021 138 8.570% F 36,448
12 4,439,287 9/29/95 10/1/2020 171 9.390% F 38,713
13 4,328,672 10/31/95 11/1/2012 196 8.200% F 40,049
14 4,328,221 10/5/95 11/1/2020 172 9.230% F 37,235
15 3,960,649 11/7/95 12/1/2011 184 8.420% F 34,511
16 3,877,915 11/30/95 12/1/2020 137 8.770% F 32,117
17 3,861,851 8/3/95 9/1/2018 170 9.240% F 34,140
18 3,705,586 11/30/95 12/1/2014 113 8.650% F 34,301
19 3,669,618 10/6/95 11/1/2020 76 8.200% F 29,022
20 3,573,367 9/15/95 10/1/2020 111 8.940% F 30,063
21 3,400,491 10/19/95 11/1/2020 172 8.300% F 27,119
22 3,328,128 11/20/95 12/1/2020 77 7.890% F 25,612
23 3,200,705 8/11/95 9/1/2020 169 9.570% F 28,334
24 3,170,931 8/11/95 9/1/2020 169 9.570% F 28,070
25 3,014,618 8/11/95 9/1/2020 169 9.570% F 26,686
26 2,949,922 5/15/95 6/1/2015 167 9.930% F 28,812
27 2,920,138 9/28/95 10/1/2020 171 8.640% F 23,976
28 2,861,040 5/24/95 12/1/2014 221 9.550% F 27,502
29 2,771,873 11/30/95 12/1/2015 113 8.250% F 23,858
30 2,779,953 9/29/95 10/1/2020 111 9.140% F 23,767
31 2,779,547 8/9/95 9/1/2017 170 9.100% F 24,578
32 2,685,251 11/13/95 12/1/2020 113 8.990% F 22,640
33 2,680,414 9/11/95 10/1/2020 135 9.060% F 22,769
34 2,580,575 8/10/95 9/1/2020 170 9.620% F 22,933
35 2,557,294 12/1/95 11/1/2015 112 8.310% F 22,145
36 2,485,750 11/17/95 12/1/2020 137 8.730% F 20,520
37 2,381,252 8/15/95 9/6/2020 134 9.350% F 20,719
38 2,336,468 11/10/95 12/1/2015 77 8.310% F 20,198
39 2,237,527 11/14/95 12/1/2020 77 8.900% F 18,728
40 2,209,981 10/19/95 11/1/2010 172 9.700% F 23,767
41 2,184,093 9/14/95 10/1/2020 135 9.080% F 18,583
42 2,119,789 9/29/95 10/1/2020 111 9.170% F 18,166
43 2,118,033 7/21/95 8/1/2020 109 9.080% F 18,055
44 2,012,068 10/10/95 11/1/2020 136 9.000% F 16,994
45 2,009,770 8/25/95 9/1/2020 170 9.580% F 17,805
46 1,889,293 11/17/95 12/1/2020 137 8.800% F 15,685
47 1,881,991 12/1/95 12/1/2015 137 8.720% F 16,754
48 1,882,630 11/16/95 12/1/2015 173 9.010% F 17,107
49 1,743,514 10/27/95 11/1/2020 136 8.850% F 14,548
50 1,690,483 11/14/95 12/1/2020 137 8.840% F 14,081
51 1,666,254 10/31/95 11/1/2010 172 8.450% F 16,691
52 1,658,512 9/1/95 9/1/2015 170 9.660% F 15,836
53 1,662,902 8/11/95 9/1/2017 170 9.180% F 14,792
54 1,627,209 12/1/95 12/1/2011 185 9.390% F 16,636
55 1,490,935 12/1/95 12/1/2020 173 8.370% F 11,947
56 1,483,290 10/11/95 11/1/2015 172 8.690% F 13,198
57 1,481,148 11/30/95 12/1/2015 137 8.620% F 13,092
58 1,439,310 8/15/95 9/1/2020 170 9.700% F 12,871
59 1,402,609 7/21/95 8/1/2020 109 9.320% F 12,186
60 1,387,576 7/6/95 8/1/2020 110 9.240% F 11,980
61 1,358,358 6/23/95 7/1/2015 168 9.170% F 12,750
62 1,339,102 8/30/95 9/1/2020 134 9.150% F 11,468
63 1,301,941 11/20/95 12/1/2010 173 8.150% F 12,777
64 1,316,356 10/20/95 11/1/2020 172 8.870% F 11,002
</TABLE>
Page - 19
<PAGE>
<TABLE>
<CAPTION>
REMAIN
CURRENT ORIG LOAN INT
ASSET PRINCIPAL NOTE LOAN AMORT TERM IN INT RATE
NO BALANCE DATE DATE MONTHS RATE TYPE PAYMENT
<S> <C> <C> <C> <C> <C> <C> <C>
65 1,287,037 11/10/95 12/1/2015 77 8.310% F 11,126
66 1,292,542 11/15/95 12/1/2020 137 8.690% F 10,635
67 1,267,955 11/2/95 12/1/2020 137 8.920% F 10,630
68 1,233,442 8/10/95 9/1/2015 134 9.380% F 11,554
69 1,191,820 10/24/95 11/1/2020 172 8.600% F 9,744
70 1,145,782 11/30/95 12/1/2020 113 8.900% F 9,572
71 1,137,989 8/9/95 9/1/2015 170 10.060% F 11,163
72 1,069,103 6/30/95 7/1/2010 168 9.830% F 11,707
73 1,044,083 11/20/95 12/1/2020 137 8.800% F 8,668
74 988,796 6/30/95 7/1/2020 108 8.410% F 7,992
75 916,269 7/12/95 8/1/2020 133 8.860% F 7,674
76 894,013 10/20/95 11/1/2020 136 8.750% F 7,399
77 893,374 9/29/95 10/1/2020 135 8.970% F 7,534
78 845,202 11/30/95 12/1/2020 173 8.790% F 7,011
79 820,094 11/21/95 12/1/2020 173 8.470% F 6,626
80 783,127 7/20/95 8/1/2020 169 9.360% F 6,825
81 743,886 8/30/95 9/1/2020 134 9.090% F 6,340
82 730,547 8/28/95 9/1/2015 134 9.670% F 6,980
83 718,578 7/20/95 8/1/2020 85 9.250% F 6,209
84 644,964 8/1/95 9/1/2020 110 9.400% F 5,634
85 594,281 7/19/95 8/1/2020 133 8.800% F 4,953
- -- ----------- -------- --------- ---- ----- -- ------
TOTAL 220,711,597
===========
</TABLE>
Page - 20
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY DESCRIPTION
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: JUNE, 1996
DATE PRINTED: 21-JUN-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 N/A 84,323 12,200,000 11/15/95 MAI APPRAISAL
02 1 RETAIL QUINCY MA 02169 1964 N/A 102,764 15,600,000 11/15/95 MAI APPRAISAL
03 1 MIXED USE WASHINGTON DC 20007 1991 N/A 60,010 11,200,000 09/29/95 MAI APPRAISAL
04 1 MULTI-FAMILY PATCHOGUE NY 11772 1965 160 128,790 7,700,000 07/23/93 APPRAISAL (NON-
04 3 MULTI-FAMILY EAST PATCHOGUE NY 11772 1965 96 81,600 4,750,000 07/23/93 APPRAISAL (NON-
05 1 MIXED USE COCONUT GROVE FL 33133 1995 N/A 36,493 9,500,000 09/05/95 MAI APPRAISAL
06 1 HEALTH CARE CHATTANOOGA TN 37405 1986 143 109,463 11,300,000 10/01/95 MAI APPRAISAL
07 1 RETAIL PALMDALE CA 93551 1990 N/A 117,952 8,840,000 09/14/95 MAI APPRAISAL
08 1 RETAIL MESQUITE TX 75150 1995 N/A 141,284 9,150,000 10/05/95 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 06/05/95 MAI APPRAISAL
11 1 OFFICE RIVERSIDE CA 92507 1989 N/A 58,408 6,200,000 10/13/95 MAI APPRAISAL
12 1 RETAIL YUBA CITY CA 95991 1989 N/A 86,582 6,900,000 09/12/95 MAI APPRAISAL
13 1 INDUSTRIAL OCEANSIDE CA 92054 1979 N/A 155,200 7,150,000 09/28/95 MAI APPRAISAL
14 1 RETAIL EUREKA CA 95503 1989 N/A 89,171 6,700,000 05/08/95 MAI APPRAISAL
15 1 RETAIL JOHNSTON RI 02919 1984 N/A 105,180 5,500,000 10/01/95 MAI APPRAISAL
16 1 RETAIL HOUSTON TX 77031 1974 N/A 96,109 5,350,000 10/05/95 MAI APPRAISAL
17 1 RETAIL LITTLE ROCK AR 72202 1984 N/A 148,664 7,000,000 03/25/95 MAI APPRAISAL
18 1 RETAIL THIBODAUX LA 70301 1980 N/A 142,061 5,000,000 11/01/95 MAI APPRAISAL
19 1 HEALTH CARE BRISTOL VA 24201 1985 97 55,560 5,100,000 09/01/95 APPRAISAL (NON-
20 1 MIXED USE BETHESDA MD 20816 1983 N/A 54,700 5,400,000 07/10/95 MAI APPRAISAL
21 1 RETAIL CORONA CA 91720 1989 N/A 52,924 4,880,000 07/25/95 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 07/31/95 MAI APPRAISAL
24 1 RETAIL AUBURNDALE FL 33823 1994 1 48,683 4,260,000 07/31/95 MAI APPRAISAL
25 1 RETAIL GAINESVILLE FL 32605 1991 1 46,259 4,050,000 07/31/95 MAI APPRAISAL
26 1 LODGING KINGSPORT TN 37660 1986 122 43,100 4,400,000 04/27/95 MAI APPRAISAL
27 1 RETAIL RIALTO CA 91720 1989 N/A 52,748 4,210,000 07/25/95 MAI APPRAISAL
28 1 HEALTH CARE BROOKLYN NY 11236 1975 346 62,236 5,617,920 04/01/95 MAI APPRAISAL
29 1 RETAIL LINCOLN NE 68516 1992 N/A 50,115 3,735,000 10/27/95 APPRAISAL (NON-
30 1 MULTI-FAMILY HAZELWOOD MO 63042 1963 64 40,640 1,310,000 07/11/95 MAI APPRAISAL
30 2 MULTI-FAMILY ST ANN MO 63074 1968 78 47,794 1,300,000 07/12/95 MAI APPRAISAL
30 3 MULTI-FAMILY NORMANDY MO 63121 1965 78 44,230 1,290,000 07/11/95 MAI APPRAISAL
31 1 MULTI-FAMILY BOWLING GREEN KY 42104 1971 128 110,480 3,740,000 02/28/95 MAI APPRAISAL
32 1 MULTI-FAMILY STATEN ISLAND NY 10304 1972 98 51,362 3,600,000 06/20/95 MAI APPRAISAL
33 1 INDUSTRIAL CASSELBERRY FL 32707 1975 N/A 100,576 3,800,000 07/28/95 MAI APPRAISAL
34 1 OFFICE MINNEAPOLIS MN 55401 1896 N/A 60,550 3,500,000 07/12/95 MAI APPRAISAL
35 1 RETAIL OKEMOS MI 48864 1971 N/A 18,436 1,750,000 08/22/95 MAI APPRAISAL
35 2 RETAIL JOLIET IL 60431 1984 N/A 18,830 1,700,000 08/21/95 MAI APPRAISAL
36 1 RETAIL LOS ANGELES CA 90025 1984 N/A 18,792 3,840,000 09/14/95 MAI APPRAISAL
37 1 RETAIL MINNETONKA MN 55345 1987 N/A 43,120 3,600,000 06/19/95 MAI APPRAISAL
38 1 MANUFACTURED HOU PUEBLO CO 81001 1974 388 N/A 4,600,000 08/29/95 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 N/A 46,831 3,600,000 05/03/95 MAI APPRAISAL
41 1 INDUSTRIAL VADNAIS HEIGHTS MN 55110 1990 N/A 60,719 3,050,000 07/21/95 MAI APPRAISAL
42 1 RETAIL HARRISONBURG VA 22801 1992 N/A 44,920 3,300,000 08/25/95 MAI APPRAISAL
43 1 RETAIL GEDDES NY 13219 1973 N/A 60,500 2,850,000 05/15/95 MAI APPRAISAL
44 1 RETAIL KATY TX 77450 1984 N/A 50,050 2,800,000 08/18/95 MAI APPRAISAL
45 1 RETAIL DANVERS MA 01923 1960 N/A 39,850 3,250,000 05/16/95 MAI APPRAISAL
46 1 OFFICE AVON IN 46122 1988 N/A 38,519 2,950,000 10/03/95 MAI APPRAISAL
47 1 OFFICE ALBUQUERQUE NM 87107 1973 N/A 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 N/A 28,000 2,575,000 08/17/95 MAI APPRAISAL
50 1 OFFICE RIVERSIDE CA 92507 1990 N/A 25,865 2,500,000 09/30/95 MAI APPRAISAL
51 1 WAREHOUSE PHOENIX AZ 85017 1959 N/A 143,536 2,950,000 09/19/95 MAI APPRAISAL
52 1 RETAIL ANCHORAGE AK 99577 1982 13 35,429 2,240,000 08/21/95 MAI APPRAISAL
53 1 MULTI-FAMILY LAFAYETTE IN 47904 1971 120 49,456 2,240,000 03/02/95 MAI APPRAISAL
54 1 RETAIL ROWLAND HEIGHTS CA 91745 1988 N/A 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 09/01/95 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 - 21
<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 06/29/95 MAI APPRAISAL
59 1 OFFICE CARROLLTON TX 75007 1985 N/A 53,475 2,400,000 07/06/95 MAI APPRAISAL
60 1 MULTI-FAMILY PLEASANTVILLE NJ 11272 1988 46 44,684 2,100,000 04/03/95 MAI APPRAISAL
61 1 RETAIL AURORA IL 60504 1977 N/A 48,790 1,950,000 05/01/95 MAI APPRAISAL
62 1 OFFICE GRAPEVINE TX 76051 1978 N/A 67,678 2,300,000 07/15/95 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 09/19/95 MAI APPRAISAL
65 1 MANUFACTURED HOU LOVELAND CO 80537 1966 113 N/A 2,075,000 08/30/95 MAI APPRAISAL
66 1 MIXED USE LYNNWOOD WA 98036 1980 N/A 34,948 2,050,000 09/27/95 MAI APPRAISAL
67 1 MULTI-FAMILY HOUSTON TX 77081 1970 144 127,908 2,200,000 08/17/95 MAI APPRAISAL
68 1 INDUSTRIAL CANOGA PARK CA 91304 1978 3 64,518 2,475,000 07/19/95 MAI APPRAISAL
69 1 MULTI-FAMILY FORT WORTH TX 76116 1969 120 111,760 1,900,000 09/19/95 MAI APPRAISAL
70 1 MULTI-FAMILY LEOMINSTER MA 01453 1895 58 59,480 1,900,000 07/26/95 MAI APPRAISAL
71 1 WAREHOUSE ALBUQUERQUE NM 87109 1980 505 40,622 1,775,000 06/28/95 MAI APPRAISAL
72 1 WAREHOUSE FLORISSANT MO 63031 1974 1,079 106,635 2,900,000 03/08/95 MAI APPRAISAL
73 1 RETAIL ABILENE TX 79608 1983 N/A 29,223 1,485,000 10/04/95 MAI APPRAISAL
74 1 MULTI-FAMILY JACKSON MS 39206 1973 96 79,752 1,540,000 04/03/95 MAI APPRAISAL
75 1 OFFICE PHOENIX AZ 85016 1985 N/A 10,200 1,260,000 05/19/95 MAI APPRAISAL
76 1 INDUSTRIAL NIAGARA NY 14305 1988 N/A 36,461 1,200,000 09/13/95 MAI APPRAISAL
77 1 OFFICE COLUMBUS OH 43227 1985 48 58,000 1,500,000 09/12/95 MAI APPRAISAL
78 1 INDUSTRIAL HOUSTON TX 77063 1986 N/A 60,000 1,275,000 05/23/95 MAI APPRAISAL
79 1 OFFICE ROSEVILLE MN 55113 1973 N/A 24,139 1,100,000 10/06/95 MAI APPRAISAL
80 1 RETAIL MIDDLETOWN CT 06457 1955 N/A 16,986 1,070,000 03/29/95 MAI APPRAISAL
81 1 MULTI-FAMILY GRAND JUNCTION CO 81501 1977 37 36,432 1,300,000 06/20/95 MAI APPRAISAL
82 1 RETAIL MAPLEWOOD MN 55109 1988 N/A 23,708 1,200,000 05/05/95 MAI APPRAISAL
83 1 MULTI-FAMILY GOFFSTOWN NH 03045 1972 48 30,675 800,000 03/14/95 MAI APPRAISAL
83 2 MULTI-FAMILY FRANKLIN NH 03235 1974 36 25,200 500,000 03/13/95 MAI APPRAISAL
84 1 MULTI-FAMILY MIDWEST CITY OK 73110 1972 104 91,200 945,000 04/25/95 MAI APPRAISAL
85 1 MULTI-FAMILY REYNOLDSBURG OH 43068 1967 58 38,084 1,180,000 05/17/95 MAI APPRAISAL
</TABLE>
Page - 22
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY PERFORMANCE
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: JUNE, 1996
DATE PRINTED: 21-JUN-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 446,167 1/1/96 4/30/96 BORROWER 100.0% 10/1/95
02 1 1,089,693 12/1/95 PROSPECTUS 430,383 1/1/96 4/30/96 BORROWER 100.0% 11/15/95
03 1 1,047,376 12/1/95 PROSPECTUS 334,786 1/1/96 4/30/96 PROPERTY MANAGEMENT 100.0% 4/30/96
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 175,243 1/1/96 3/31/96 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 127,373 1/1/96 3/31/96 BORROWER 94.6% 3/25/96
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 260,105 1/1/96 3/31/96 BORROWER 100.0% 7/15/95
13 1 624,354 12/1/95 PROSPECTUS N/A N/A N/A N/A 100.0% 7/15/95
14 1 640,741 12/1/95 PROSPECTUS 104,607 1/1/96 3/31/96 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 167,461 1/1/96 3/31/96 BORROWER 100.0% 4/1/96
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 102,267 1/1/96 3/31/96 BORROWER 99.0% 4/1/96
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 125,401 1/1/96 3/31/96 BORROWER 100.0% 5/1/96
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 169,838 1/1/96 4/30/96 BORROWER 56.1% 4/30/96
27 1 399,391 12/1/95 PROSPECTUS 106,959 1/1/96 3/31/96 BORROWER 100.0% 5/1/96
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 N/A N/A N/A N/A 93.8% 11/9/95
30 2 128,210 12/1/95 PROSPECTUS N/A N/A N/A N/A 92.3% 11/9/95
30 3 131,454 12/1/95 PROSPECTUS N/A N/A N/A N/A 96.2% 11/9/95
31 1 394,226 12/1/95 PROSPECTUS N/A N/A N/A N/A 99.2% 7/14/95
32 1 330,879 12/1/95 PROSPECTUS N/A N/A N/A N/A 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 120,202 1/1/96 3/31/96 BORROWER 97.4% 5/1/96
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 78,872 1/1/96 3/31/96 BORROWER 96.7% 3/31/96
37 1 353,103 12/1/95 PROSPECTUS 352,288 1/1/95 12/31/95 BORROWER TAX RETURN 100.0% 3/1/96
38 1 347,126 12/1/95 PROSPECTUS 103,417 1/1/96 3/31/96 BORROWER 70.4% 4/30/96
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 N/A N/A N/A N/A 100.0% 9/15/95
43 1 313,952 12/1/95 PROSPECTUS 41,361 1/1/96 3/31/96 BORROWER 75.9% 2/28/96
44 1 307,847 12/1/95 PROSPECTUS 101,039 1/1/96 3/31/96 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 86,296 1/1/96 3/31/96 BORROWER 81.8% 3/31/96
47 1 296,001 12/1/95 PROSPECTUS 109,455 1/1/96 3/31/96 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 N/A N/A N/A N/A 100.0% 11/1/95
52 1 297,817 12/1/95 PROSPECTUS 82,774 1/1/96 3/31/96 MANAGEMENT COMPANY 100.0% 5/13/96
53 1 234,679 12/1/95 PROSPECTUS N/A N/A N/A N/A 100.0% 7/14/95
54 1 275,593 12/1/95 PROSPECTUS N/A N/A N/A N/A 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 63,867 1/1/96 3/20/96 BORROWER 94.0% 3/20/96
60 1 189,398 12/1/95 PROSPECTUS N/A N/A N/A N/A 100.0% 7/31/95
61 1 228,087 12/1/95 PROSPECTUS 60,722 1/1/96 3/31/96 BORROWER 100.0% 3/6/96
</TABLE>
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<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 74,783 1/1/96 3/31/96 BORROWER 93.5% 5/9/96
65 1 157,898 12/1/95 PROSPECTUS 55,314 1/1/96 3/31/96 BORROWER 97.4% 4/30/96
66 1 200,714 12/1/95 PROSPECTUS 60,693 1/1/96 3/31/96 BORROWER 100.0% 5/9/96
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 31,832 1/1/96 3/31/96 BORROWER 98.3% 4/5/96
70 1 188,678 12/1/95 PROSPECTUS N/A N/A N/A N/A 100.0% 11/15/95
71 1 181,976 12/1/95 PROSPECTUS 39,630 1/1/96 3/31/96 BORROWER 71.3% 5/9/96
72 1 202,116 12/1/95 PROSPECTUS 52,982 1/1/96 3/31/96 BORROWER 83.2% 3/31/96
73 1 164,787 12/1/95 PROSPECTUS N/A N/A N/A N/A 100.0% 11/17/95
74 1 125,340 12/1/95 PROSPECTUS 53,737 1/1/96 3/31/96 BORROWER 94.8% 3/28/96
75 1 136,606 12/1/95 PROSPECTUS N/A N/A N/A N/A 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 36,655 1/1/96 3/31/96 BORROWER 100.0% 4/30/96
79 1 138,445 12/1/95 PROSPECTUS 34,773 1/1/96 3/31/96 BORROWER 94.3% 3/31/96
80 1 105,904 12/1/95 PROSPECTUS N/A N/A N/A N/A 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 29,182 1/1/96 3/31/96 BORROWER 90.6% 3/31/96
83 1 64,622 12/1/95 PROSPECTUS 10,946 1/1/96 3/31/96 BORROWER 97.9% 2/1/96
83 2 38,258 12/1/95 PROSPECTUS 11,340 1/1/96 3/31/96 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 33,843 1/1/96 3/31/96 BORROWER 98.3% 3/31/96
</TABLE>
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<PAGE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - ASSET COMMENTS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: JUNE, 1996
DATE PRINTED: 21-JUN-96
LOAN 01 - 1: Partial Year Statement Comment: 4/30/96 - REVENUE BASED
ON LEASE PAYMENT AT $1,338,500/YEAR WITH ALL EXPENSES PAID BY TENANT. DATA
ALSO RECEIVED INDICATES THAT FISCAL YEAR 1995 TENANT SALES/SF OF SELLING
SPACE WERE $938.93, WHILE SALES/SF OF TOTAL SPACE WERE $737.54.
LOAN 02 - 1: Partial Year Statement Comment: 4/30/96 - STATEMENT IS
BASED ON REVENUE FROM LONG TERM LEASE. DATA ALSO RECEIVED WHICH INDICATES
TENANT'S FISCAL 1995 SALES/SF OF SELLING SPACE WERE $752.67, WHILE SALES/SF
OF TOTAL SPACE WERE $485.17.
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: 3/31/96 - 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: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING EXPENSE IS 31% ABOVE BASELINE ESTIMATE. REPAIRS AND MAINTENANCE
AND UTILITIES MAKE UP LARGEST VARIANCES. NATURAL GAS EXPENSE WAS DOUBLE
BUDGET DUE TO HARSH WEATHER.
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: 3/31/96 - 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: 3/31/96 - 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: 3/31/96 - REVENUE IS 10%
BELOW BASELINE ESTIMATE, BUT GREATER THAN HISTORICAL REVENUE. HOWEVER,
STATEMENT INCLUDES ONLY THREE MONTHS.
LOAN 20 - 1:
LOAN 21 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE PROPERTY TAX EXPENSE. HOWEVER, TENANT PAYS TAXES
DIRECTLY AND PASS THROUGH INCOME IS NOT REPORTED EITHER.
Page - 25
<PAGE>
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: 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.
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.
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:
LOAN 27 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE PROPERTY TAX EXPENSE.
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: TRANSFERRED TO SPECIAL SERVICER DUE TO
DELINQUENCY. LOAN IS RELATED TO TWO OTHER LOANS WHICH HAVE ALSO BEEN
TRANSFERRED TO SPECIAL SERVICER DUE TO DELINQUENCY.
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: 3/31/96 - REVENUE IS 11%
BELOW BASELINE. BORROWER REPRESENTATIVE INDICATES THAT THEY HAVE LOST A
COUPLE OF TENANTS , BUT ARE IN THE PROCESS OF REPLACING THESE TENANTS.
LOAN 44 - 1: Partial Year Statement Comment: 3/31/96 - REVENUE IS 17%
ABOVE BASELINE PROJECTIONS, WHILE YEAR TO DATE REPAIR AND MAINTENANCE
EXPENSE IS 62% BELOW BASELINE PROJECTIONS.
LOAN 45 - 1:
LOAN 46 - 1:
LOAN 47 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX EXPENSE.
Page - 26
<PAGE>
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: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX EXPENSE.
LOAN 53 - 1: Status Comment: TRANSFERRED TO SPECIAL SERVICER DUE TO
DELINQUENCY. LOAN IS RELATED TO TWO OTHER LOANS WHICH HAVE ALSO BEEN
TRANSFERRED TO SPECIAL SERVICER DUE TO DELINQUENCY.
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 PROJECTION. 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: 3/31/96 - ALL OPERATING
EXPENSES ARE PAID BY TENANT.
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: 3/31/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE PROPERTY TAX EXPENSE AND INCLUDES ONLY 4% OF
ANNUAL INSURANCE EXPENSE AS ESTIMATED FROM SERVICING INFORMATION.
LOAN 65 - 1: Partial Year Statement Comment: 3/31/96 - REVENUE IS 24%
ABOVE BASELINE EXPECTATIONS.
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: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING EXPENSE IS 15% ABOVE BASELINE PROJECTION. VARIANCES ARE IN
INSURANCE, PROPERTY TAX, AND UTILITY EXPENSES. INSURANCE, THE LARGEST
VARIANCE, IS 161% OF THE BASELINE ESTIMATE, BUT CONSISTENT WITH SERVICING
INFORMATION.
Page - 27
<PAGE>
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: 3/31/96 - PROPERTY TAXES
WERE NORMALIZED PER SERVING INFORMATION. REVENUES WERE 5% ABOVE BASELINE,
BUT 9% BELOW THE 1995 FIGURES.
LOAN 75 - 1:
LOAN 76 - 1:
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:
LOAN 83 - 2:
LOAN 83 - 1: Partial Year Statement Comment: 3/31/96 - OPERATING
STATEMENT INCLUDES $4,850 IN PRIOR YEAR EXPENSES.
LOAN 84 - 1:
LOAN 85 - 1: Partial Year Statement Comment: 3/31/96 - YEAR-TO-DATE
STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX EXPENSE.
Page - 28
