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) April 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 April 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
April 25, 1996.
Loan data file as of the April 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 ?, 1995
By: Midland Data Systems, Inc., its General
Partner
By: Lawrence D. Ashley
Title: Director of MBS Programs
Date: April 25, 1996
EXHIBIT INDEX
Sequential
Page Number
Document
Monthly Remittance Statement to the Certificateholders 3
dated as of April 25, 1996
Loan data file as of April 1996 25
Page - 2
<TABLE>
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: 04/25/96
Payment Date: 04/25/96
Prior Payment: 03/25/96
Record Date: 03/29/96
WAC: 8.801473%
WAMM: 145
<CAPTION>
Original Opening
Class Face Value (1) Balance
CUSIP Per $1 Per $1
<S> <C> <C>
A-1 ........... 75,000,000.00 74,229,855.34
74436JCT2 ..... 1000.000000000 989.731404533
A-2 ........... 65,040,000.00 65,040,000.00
74436JCU9 ..... 1000.000000000 1000.000000000
A-EC .......... 222,286,173.00N 221,516,028.34
74436JCV7 ..... 1000.000000000 996.535346083
B ............. 8,891,000.00 8,891,000.00
74436JCW5 ..... 1000.000000000 1000.000000000
C ............. 13,337,000.00 13,337,000.00
74436JCX3 ..... 1000.000000000 1000.000000000
D ............. 8,892,000.00 8,892,000.00
74436JCY1 ..... 1000.000000000 1000.000000000
E ............. 15,560,000.00 15,560,000.00
74436JCZ8 ..... 1000.000000000 1000.000000000
F ............. 5,557,000.00 5,557,000.00
74436JDA2 ..... 1000.000000000 1000.000000000
G ............. 12,226,000.00 12,226,000.00
74436JDB0 ..... 1000.000000000 1000.000000000
H ............. 11,114,000.00 11,114,000.00
74436JDDC8 .... 1000.000000000 1000.000000000
J-1 ........... 6,669,173.25 6,669,173.25
74436JDD6 ..... 1000.000000000 1000.000000000
J-2 ........... 6,669,173.25N 6,669,173.25
74436JDE4 ..... 1000.000000000 1000.000000000
R ............. 0.00 0.00
74436JDF1 ..... 1000.000000000 0.000000000
- ----- - -------------- -----------
222,286,173.25 221,516,028.59
============== ==============
</TABLE>
Page - 3
<PAGE>
<TABLE>
<CAPTION>
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1 Per $1 Per $1
<S> <C> <C> <C>
A-1 ................ 272,482.93 0 0
74436JCT2 .......... 3.633105733 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
- ----- - - - -
272,482.93
==========
Total P&I Payment .. 1,853,927.08
============
</TABLE>
<TABLE>
<CAPTION>
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1 Per $1 Per $1
<S> <C> <C> <C>
A-1 ........ 73,957,372.41 403,624.84 0
74436JCT2 .. 986.098298800 5.381664533 0
A-2 ........ 65,040,000.00 370,728.00 0
74436JCU9 .. 1000.000000000 5.700000000 0
A-EC ....... 221,243,545.41 272,282.62 0
74436JCV7 .. 995.309525663 1.224919285 0
B .......... 8,891,000.00 51,160.30 0
74436JCW5 .. 1000.000000000 5.754167135 0
C .......... 13,337,000.00 77,965.88 0
74436JCX3 .. 1000.000000000 5.845833396 0
D .......... 8,892,000.00 53,092.65 0
74436JCY1 .. 1000.000000000 5.970833333 0
E .......... 15,560,000.00 98,676.33 0
74436JCZ8 .. 1000.000000000 6.341666452 0
F .......... 5,557,000.00 39,672.46 0
74436JDA2 .. 1000.000 7.139 0
G .......... 12,226,000.00 87,283.69 0
74436JDB0 .. 1000.000000000 7.139186161 0
H .......... 11,114,000.00 79,344.91 0
74436JDDC8 . 1000.000000000 7.139185712 0
J-1 ........ 6,669,173.25 0.00 0
74436JDD6 .. 1000.000000000 0.000000000 0
J-2 ........ 6,669,173.25 47,612.47 0
74436JDE4 .. 1000.000000000 7.139186198 0
R .......... 0 0 0
74436JDF1 .. 0
- ----- - -------------- -
221,243,545.66
==============
</TABLE>
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 ....... 1.475014%
74436JCV7 .. 1.474354%
B .......... 6.905000%
74436JCW5 .. Fixed
C .......... 7.015000%
74436JCX3 .. Fixed
D .......... 7.165000%
74436JCY1 .. Fixed
E .......... 7.610000%
74436JCZ8 .. Fixed
F .......... 8.567023%
74436JDA2 .. 8.567069%
G .......... 8.567023%
74436JDB0 .. 8.567069%
H .......... 8.567023%
74436JDDC8 . 8.567069%
J-1 ........ None
74436JDD6 .. 0.000000%
J-2 ........ 8.567023%
74436JDE4 .. 8.567069%
R .......... None
74436JDF1
<FN>
(1) N denotes notional balance not included in total
(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 74,229,855.34
None ....... 1000.000000000 989.731404533
A-L-2 ...... 65,040,000.00 65,040,000.00
None ....... 1000.000000000 1000.000000000
B-L ........ 8,891,000.00 8,891,000.00
None ....... 1000.000000000 1000.000000000
C-L ........ 13,337,000.00 13,337,000.00
None ....... 1000.000000000 1000.000000000
D-L ........ 8,892,000.00 8,892,000.00
None ....... 1000.000000000 1000.000000000
E-L ........ 15,560,000.00 15,560,000.00
None ....... 1000.000000000 1000.000000000
F-L ........ 5,557,000.00 5,557,000.00
None ....... 1000.000000000 1000.000000000
G-L ........ 12,226,000.00 12,226,000.00
None ....... 1000.000000000 55.001171845
H-L ........ 11,114,000.00 11,114,000.00
None ....... 1000.000000000 1000.000000000
J-L ........ 6,669,173.00 6,669,173.25
None ....... 1000.000000000 1000.000037486
LR ......... 0.00 0
74436JDG9 .. 1000.000000000 0
- ----- - -------------- -
222,286,173.00 221,516,028.59
============== ==============
</TABLE>
Page - 5
<PAGE>
<TABLE>
<CAPTION>
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
<S> <C> <C> <C>
A-L-1 ........... 272,482.93 0 0
None ............ 3.633105733 0 0
A-L-2 ........... 0 0 0
None ............ 0 0 0
B-L ............. 0 0 0
None ............ 0 0 0
C-L ............. 0 0 0
None ............ 0 0 0
D-L ............. 0 0 0
None ............ 0 0 0
E-L ............. 0 0 0
None ............ 0 0 0
F-L ............. 0 0 0
None ............ 0 0 0
G-L ............. 0 0 0
None ............ 0 0 0
H-L ............. 0 0 0
None ............ 0 0 0
J-L ............. 0 0 0
None ............ 0 0 0
LR .............. 0 0 0
74436JDG9 ....... 0 0 0
- ----- - - - -
Total P&I Payment 272,482.93
==========
</TABLE>
<TABLE>
<CAPTION>
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
<S> <C> <C> <C>
A-L-1 ...... 73,957,372.41 529,940.75 0
None ....... 986.098298800 7.065876667 0
A-L-2 ...... 65,040,000.00 464,332.66 0
None ....... 1000.000000000 7.139186039 0
B-L ........ 8,891,000.00 63,474.51 0
None ....... 1000.000000000 7.139186818 0
C-L ........ 13,337,000.00 95,215.33 0
None ....... 1000.000000000 7.139186474 0
D-L ........ 8,892,000.00 63,481.64 0
None ....... 1000.000000000 7.139185785 0
E-L ........ 15,560,000.00 111,085.73 0
None ....... 1000.000000000 7.139185733 0
F-L ........ 5,557,000.00 39,672.46 0
None ....... 1000.000000000 7.139186611 0
G-L ........ 12,226,000.00 87,283.69 0
None ....... 55.001171845 0.392663605 0
H-L ........ 11,114,000.00 79,344.91 0
None ....... 1000.000000000 7.139185712 0
J-L ........ 6,669,173.25 47,612.47 0
None ....... 1000.000037486 7.139186466 0
LR ......... 0 0 0
74436JDG9 .. 0 0 0
- ----- - - - -
221,243,545.66 1,581,444.15
============== ============
</TABLE>
Page - 6
<PAGE>
<TABLE>
<CAPTION>
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
<S> <C>
A-L-1 ...... 8.567023%
None ....... 8.567069%
A-L-2 ...... 8.567023%
None ....... 8.567069%
B-L ........ 8.567023%
None ....... 8.567069%
C-L ........ 8.567023%
None ....... 8.567069%
D-L ........ 8.567023%
None ....... 8.567069%
E-L ........ 8.567023%
None ....... 8.567069%
F-L ........ 8.567023%
None ....... 8.567069%
G-L ........ 8.567023%
None ....... 8.567069%
H-L ........ 8.567023%
None ....... 8.567069%
J-L ........ 8.567023%
None ....... 8.567069%
LR ......... None
74436JDG9 .. 0
</TABLE>
<TABLE>
P&I ADVANCE INCLUDED IN DISTRIBUTION
<CAPTION>
Class Amount Amt Per $1 000
<S> <C> <C>
A-1 ........ 0 0
A-2 ........ 0 0
A-EC ....... 0 0
B .......... 0 0
C .......... 0 0
D .......... 0 0
E .......... 0 0
F .......... 0 0
G .......... 0 0
H .......... 165.28 0.000014871
J-1 ........ NA 0
J-2 ........ 47,612.47 0.007139186
</TABLE>
<TABLE>
INTEREST SHORTFALL
<CAPTION>
Class Amount Amt Per $1 000
<S> <C> <C>
A-1 ........ 0 0
A-2 ........ 0 0
A-EC ....... 0 0
B .......... 0 0
C .......... 0 0
D .......... 0 0
E .......... 0 0
F .......... 0 0
G .......... 0 0
H .......... 0 0
J-1 ........ NA 0
J-2 ........ 0.00 0.000000
</TABLE>
Remittance Interest 1,581,444.15
Remittance Principal 272,482.93
Pooled Available Funds 1,853,927.08
Page - 7
<PAGE>
BEGINNING POOL
Balance Count
221,516,028.58 85
============== ==
ENDING POOL
Balance Count
221,243,545.65 85
============== ==
Servicing Fee 42,114.18
Additional Servicing Compensation 0
Special Servicing Fee 0
Disposition Fee 0
Prepayment Premiums Received 0
Default Interest 0
Net Default Interest 0
<TABLE>
DELINQUENCY /PREPAYMENT / RATE HISTORY REPORTING TOTAL
<CAPTION>
Distribution Delinq 1 Month(1) Delinq 2 Months(1)
Date # Balance # Balance
<S> <C> <C> <C> <C>
04/25/96 0 0 0 0
0 0 0 0
03/25/96 0 0 0 0
0 0 0 0
02/26/96 0 0 0 0
0 0 0 0
01/25/96 0 0 0 0
0 0 0 0
<FN>
(1) Foreclosure and REO Totals are Included in the Appropriate Delinquency
Aging Category
</FN>
</TABLE>
<TABLE>
<CAPTION>
Distribution Delinq 3+ Months (1) Foreclosure / Bankruptcy(1)
Date # Balance # Balance
<S> <C> <C> <C> <C>
04/25/96 0 0 0 0
0 0 0 0
03/25/96 0 0 0 0
0 0 0 0
02/26/96 0 0 0 0
0 0 0 0
01/25/96 0 0 0 0
0 0 0 0
<FN>
(1) Foreclosure and REO Totals are Included in the Appropriate Delinquency
Aging Category
</FN>
</TABLE>
<TABLE>
<CAPTION>
Distribution REO (1) Modifications
Date # Balance # Balance
<S> <C> <C> <C> <C>
04/25/96 0 0 0 0
0 0 0 0
03/25/96 0 0 0 0
0 0 0 0
02/26/96 0 0 0 0
0 0 0 0
01/25/96 0 0 0 0
0 0 0 0
<FN>
(1) Foreclosure and REO Totals are Included in the Appropriate Delinquency
Aging Category
</FN>
</TABLE>
Page - 8
<PAGE>
<TABLE>
<CAPTION>
Distribution Prepayments Next Weighted Avg.
Date # Balance Coupon
<S> <C> <C> <C>
04/25/96 0 0 8.801526%
0 0 0.000000%
03/25/96 0 0 8.801473%
0 0 0.000000%
02/26/96 0 0 8.801420%
0 0 0.000000%
01/25/96 0 0 8.801368%
0 0 0
</TABLE>
<TABLE>
<CAPTION>
Distribution Next Weighted Avg.
Date Remit
<S> <C>
04/25/96 8.567069%
0.000000%
03/25/96 8.567023%
0.000000%
02/26/96 8.566977%
0.000000%
01/25/96 8.566932%
0.000000%
</TABLE>
<TABLE>
DELINQUENCY LOAN DETAIL
<CAPTION>
Paid
Disclosure Doc Thru Current P&I
Control # Period Date Advance
<S> <C> <C> <C>
940900480 199603 03/01/96 23,999.08
940900155 199603 03/01/96 14,445.47
940902047 199603 03/01/96 9,333.20
- --------- ------ -- -- -- --------
TOTALS: 47,777.75
=========
</TABLE>
<TABLE>
<CAPTION>
Outstanding
Outstanding Property
Disclosure Doc P&I Protection
Control # Period Advances(1) Advances
<S> <C> <C> <C>
940900480 199603 23,999.08 0
940900155 199603 14,445.47 0
940902047 199603 9,333.20 0
- --------- ------ -------- -
TOTALS: 47,777.75 0
========= =
<FN>
(1) Outstanding P&I Advances include the current period P&I Advance
</FN>
</TABLE>
Page - 9
<PAGE>
<TABLE>
<CAPTION>
Special
Servicer
Disclosure Doc Advance Loan Transfer
Control # Description (1) Status (2) Date
<S> <C> <C> <C>
940900480 B 0 0
940900155 B 0 0
940902047 B 0 0
- --------- - -
TOTALS: 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>
<TABLE>
<CAPTION>
Disclosure Doc Foreclosure Bankruptcy REO
Control # Date Date Date
<S> <C> <C> <C>
940900480 0 0 0
940900155 0 0 0
940902047 0 0 0
- --------- - - -
TOTALS: 0 0 0
= = =
</TABLE>
<TABLE>
DISTRIBUTION OF PRINCIPAL BALANCES
<CAPTION>
Current Scheduled Number
Principal Balances of Loans
<S> <C>
0 to 500,000 ................... 0
500,000.01 to 750,000 .......... 5
750,000.01 to 1,000,000 ........ 7
1,000,000.01 to 1,250,000 ...... 6
1,250,000.01 to 1,500,000 ...... 13
1,500,000.01 to 1,750,000 ...... 6
1,750,000.01 to 2,000,000 ...... 3
2,000,000.01 to 2,500,000 ...... 10
2,500,000.01 to 3,000,000 ...... 10
3,000,000.01 to 3,500,000 ...... 5
3,500,000.01 to 4,000,000 ...... 6
4,000,000.01 to 4,500,000 ...... 4
4,500,000.01 to 5,000,000 ...... 1
5,000,000.01 to 5,500,000 ...... 2
5,500,000.01 to 6,000,000 ...... 0
6,000,000.01 to 6,500,000 ...... 2
6,500,000.01 to 7,000,000 ...... 2
7,000,000.01 to 7,500,000 ...... 1
7,500,000.01 to 8,000,000 ...... 0
8,000,000.01 & above ........... 2
- ------------ -
Total .......................... 85
==
</TABLE>
Average Scheduled Balance is 2,602,865.24
Maximum Scheduled Balance is 8,226,202.19
Minimum Scheduled Balance is 595,458.64
Page - 10
<PAGE>
<TABLE>
<CAPTION>
Current Scheduled Scheduled
Principal Balances Principal Balance
<S> <C>
0.00 to 500,000 ................ 0
500,000.01 to 750,000 .......... 3,439,462.41
750,000.01 to 1,000,000 ........ 6,152,909.16
1,000,000.01 to 1,250,000 ...... 6,839,409.81
1,250,000.01 to 1,500,000 ...... 17,898,407.60
1,500,000.01 to 1,750,000 ...... 10,075,801.20
1,750,000.01 to 2,000,000 ...... 5,669,502.17
2,000,000.01 to 2,500,000 ...... 22,146,880.10
2,500,000.01 to 3,000,000 ...... 27,624,238.89
3,000,000.01 to 3,500,000 ...... 16,145,658.50
3,500,000.01 to 4,000,000 ...... 22,708,099.50
4,000,000.01 to 4,500,000 ...... 17,619,541.46
4,500,000.01 to 5,000,000 ...... 4,729,493.28
5,000,000.01 to 5,500,000 ...... 10,779,074.91
5,500,000.01 to 6,000,000 ...... 0.00
6,000,000.01 to 6,500,000 ...... 12,509,750.38
6,500,000.01 to 7,000,000 ...... 13,244,748.14
7,000,000.01 to 7,500,000 ...... 7,341,976.64
7,500,000.01 to 8,000,000 ...... 0.00
8,000,000.01 & above ........... 16,318,591.50
- ------------ -------------
Total .......................... 221,243,545.65
==============
</TABLE>
<TABLE>
<CAPTION>
Current Scheduled Based on
Principal Balances Balance
<S> <C>
0 to 500,000.00 ................ 1.55%
500,000 to 750,000.00 .......... 2.78%
750,000 to 1,000,000.00 ........ 3.09%
1,000,000 to 1,250,000.00 ...... 8.09%
1,250,000 to 1,500,000.00 ...... 4.55%
1,500,000 to 1,750,000.00 ...... 2.56%
1,750,000 to 2,000,000.00 ...... 10.01%
2,000,000 to 2,500,000.00 ...... 12.49%
2,500,000 to 3,000,000.00 ...... 7.30%
3,000,000 to 3,500,000.00 ...... 10.26%
3,500,000 to 4,000,000.00 ...... 7.96%
4,000,000 to 4,500,000.00 ...... 2.14%
4,500,000 to 5,000,000.00 ...... 4.87%
5,000,000 to 5,500,000.00 ...... 0.00%
5,500,000 to 6,000,000.00 ...... 5.65%
6,000,000 to 6,500,000.00 ...... 5.99%
6,500,000 to 7,000,000.00 ...... 3.32%
7,000,000 to 7,500,000.00 ...... 0.00%
7,500,000 to 8,000,000.00 ...... 7.38%
8,000,000 & above .............. 100.00%
- --------- ------
Total .......................... 0.00
====
</TABLE>
<TABLE>
DISTRIBUTION OF PROPERTY TYPES
<CAPTION>
Number Scheduled Based on
Property Types of Loans Principal Balance Balance
<S> <C> <C> <C>
Retail ............. 31 96,552,674.62 43.64%
Multi-Family Housi . 22 46,557,453.85 21.04%
Light Industrial ... 9 17,108,517.98 7.73%
Office ............. 7 13,803,590.44 6.24%
Congregate Care .... 3 13,013,634.07 5.88%
Office/Retail ...... 2 10,119,997.53 4.57%
Office/Multi-Fam\R . 1 7,341,976.64 3.32%
Self Service Stora . 3 4,104,629.43 1.86%
Mobile Home Park ... 2 3,635,838.15 1.64%
Ind./Warehouse/Off . 2 3,116,713.95 1.41%
Hospitality ........ 1 2,958,615.72 1.34%
Other .............. 2 2,929,903.27 1.32%
- ------------ ----
Total .............. 85 221,243,545.65 100.00%
== ============== ======
</TABLE>
Page - 11
<PAGE>
<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) 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 Mortgage Interest 0.088015
Minimum Mortgage Interest Rate is 0.0789
Maximum Mortgage Interest Rate is 0.1006
<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% ............... 13,391,873.19
8.001% to 8.250% ............... 24,035,958.96
8.251% to 8.500% ............... 25,271,115.00
8.501% to 8.750% ............... 52,071,767.40
8.751% to 9.000% ............... 27,783,345.30
9.001% to 9.250% ............... 31,999,446.33
9.251% to 9.500% ............... 18,584,587.85
9.501% to 9.750% ............... 22,930,713.12
9.751% to 10.000% .............. 4,033,544.20
10.001% to 10.250% ............. 1,141,194.30
10.251% to 10.500% ............. 0
10.501% to 10.750% ............. 0
10.751% & above ................ 0
- ------ -
Total .......................... 221,243,545.65
==============
<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>
Page - 12
<PAGE>
<TABLE>
<CAPTION>
Current Mortgage Based on
Interest Rate (1) Balance
<S> <C>
7.500% or less ................. 0
7.501% to 7.750% ............... 0
7.751% to 8.000% ............... 0.060530006
8.001% to 8.250% ............... 0.108640272
8.251% to 8.500% ............... 0.114223061
8.501% to 8.750% ............... 0.235359487
8.751% to 9.000% ............... 0.125578105
9.001% to 9.250% ............... 0.144634485
9.251% to 9.500% ............... 0.084000588
9.501% to 9.750% ............... 0.103644665
9.751% to 10.000% .............. 0.01823124
10.001% to 10.250% ............. 0.005158091
10.251% to 10.500% ............. 0
10.501% to 10.750% ............. 0
10.751% & above ................ 0
- ------ -
Total .......................... 1
=
<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>
GEOGRAPHIC DISTRIBUTION
<CAPTION>
Number Scheduled
Geographic Location of Loans Principal Balance
<S> <C> <C>
California ......... 11 37,053,490.59
Texas .............. 14 31,236,759.68
Massachusetts ...... 4 19,477,622.64
Florida ............ 5 18,627,774.61
New York ........... 5 15,283,358.38
Tennessee .......... 2 9,424,426.68
District of Columb . 2 9,230,483.29
Minnesota .......... 5 8,713,164.72
Oklahoma ........... 4 8,311,358.25
Maryland ........... 2 5,801,820.25
Virginia ........... 2 5,801,109.14
Louisiana .......... 2 5,206,604.25
Colorado ........... 3 4,381,118.92
Rhode Island ....... 1 3,973,950.09
Arkansas ........... 1 3,870,557.24
Missouri ........... 2 3,860,007.82
Indiana ............ 2 3,553,745.60
New Jersey ......... 2 3,136,993.40
New Mexico ......... 2 3,029,275.23
Nebraska ........... 1 2,781,377.69
Kentucky ........... 1 2,776,046.83
Arizona ............ 2 2,594,132.34
Michigan ........... 1 2,566,073.78
Kansas ............. 1 2,241,746.43
Alaska ............. 1 1,663,421.66
Ohio ............... 2 1,490,526.53
Illinois ........... 1 1,366,191.32
Washington ......... 1 1,295,063.69
Mississippi ........ 1 990,897.39
Connecticut ........ 1 784,544.98
New Hampshire ...... 1 719,902.23
- ----------
Total .............. 85 221,243,545.65
== ==============
</TABLE>
Page - 13
<PAGE>
<TABLE>
<CAPTION>
Based on
Geographic Location Balance
<S> <C>
California ..................... 16.75%
Texas .......................... 14.12%
Massachusetts .................. 8.80%
Florida ........................ 8.42%
New York ....................... 6.91%
Tennessee ...................... 4.26%
District of Columb ............. 4.17%
Minnesota ...................... 3.94%
Oklahoma ....................... 3.76%
Maryland ....................... 2.62%
Virginia ....................... 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%
======
</TABLE>
<TABLE>
LOAN SEASONING
<CAPTION>
Number Scheduled Based on
Number of Years of Loans Principal Balance Balance
<S> <C> <C> <C>
1 year or less 84 214,538,620.85 96.97%
1+ to 2 years 0 0.00 0.00%
2+ to 3 years 1 6,704,924.80 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 85 221,243,545.65 100.00%
== ============== ======
</TABLE>
Weighted Average Seasoning is 41.0540%
<TABLE>
DISTRIBUTION OF AMORTIZATION TYPE SCHEDULED
<CAPTION>
Number Principal Based on
Amortization Type of Loans Balance Balance
<S> <C> <C> <C>
Fully Amortizing 9 26,453,016.01 11.96%
Amortizing Balloon 76 194,790,529.64 88.04%
- ---- ----
Total 85 221,243,545.65 100.00%
== ============== ======
</TABLE>
Page - 14
<PAGE>
<TABLE>
DISTRIBUTION OF REMAINING TERM FULLY AMORTIZING
<CAPTION>
Fully Amortizing Number Scheduled Based on
Mortgage Loans of Loans Principal Balance Balance
<S> <C> <C> <C>
60 months or less 0 0 0.00000000
61 to 120 months
121 to 180 months 4 6,282,371.66 2.84%
181 to 240 months 5 20,170,644.35 9.12%
241 to 360 months 0 0.00 0.00%
- --- --- - ---- ----
Total 9 26,453,016.01 11.96%
= ============= =====
</TABLE>
Weighted Average Months to Maturity is 203
Distribution of Remaining Term 0
<TABLE>
BALLOON LOANS
<CAPTION>
Balloon Number Scheduled Based on
Mortgage Loans of Loans Principal Balance Balance
<S> <C> <C> <C>
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 4,729,493.28 2.14%
61 to 120 months 24 72,047,433.36 32.56%
121 to 180 months 51 118,013,603.00 53.34%
181 to 240 months 0 0.00 0.00%
- --- --- - ---- ----
Total 76 194,790,529.64 88.04%
== ============== =====
</TABLE>
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 .................
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 - 15
<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% ................ 27,916,566.35
1.251%to 1.375% ................ 102,946,870.63
1.376%to 1.500% ................ 56,466,413.76
1.501%to 1.625% ................ 30,116,592.97
1.626%to 1.750% ................ 1,145,781.51
1.751%to 1.875% ................ 2,651,320.43
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 .......................... 221,243,545.65
==============
<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>
0.01 or less ................... 0
1.001% to 1.125% ............... 0
1.126% to 1.250% ............... 12.62%
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>
<TABLE>
NOI Aging
<CAPTION>
Number
NOI Date of Loans
<S> <C>
01 year or less ................ 65
1+ to 2 years .................. 2
2+ & above ..................... 18
Unknown ........................ 0
-
Total .......................... 85
==
</TABLE>
Page - 17
<PAGE>
<TABLE>
<CAPTION>
Scheduled
NOI Date Principal Balance
<S> <C>
01 year or less ................ 143,735,613.10
1+ to 2 years .................. 3,529,748.88
2+ & above ..................... 73,978,183.67
Unknown ........................ 0.00
----
Total .......................... 221,243,545.65
==============
</TABLE>
<TABLE>
<CAPTION>
Based on
NOI Date Balance
<S> <C>
01 year or less ................ 64.97%
1+ to 2 years .................. 1.60%
2+ & above ..................... 33.44%
Unknown ........................ 0.00%
----
Total .......................... 100.00%
======
</TABLE>
Page - 18
<PAGE>
<TABLE>
LOAN LEVEL DETAIL
<CAPTION>
Offering Spec. Servicer
Circular Property Transfer
Control # Type Date State
<S> <C> <C> <C>
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
</TABLE>
Page - 19
<PAGE>
<TABLE>
<CAPTION>
Offering Beginning
Circular Maturity Scheduled Note
Control # Date Balance Rate
<S> <C> <C> <C>
1 01/01/2011 8,234,191.44 8.59%
2 01/01/2011 8,100,248.60 8.59%
3 11/01/2015 7,353,750.54 8.75%
4 11/01/2005 6,713,275.86 8.35%
5 12/01/2005 6,542,394.54 8.51%
6 11/01/2002 6,472,740.85 8.08%
7 10/01/2010 6,049,217.58 9.39%
8 01/01/2003 5,468,246.03 8.05%
9 12/01/2002 5,332,706.33 7.89%
10 12/01/2000 4,734,670.53 7.90%
11 01/01/2008 4,491,348.74 8.57%
12 10/01/2010 4,451,029.22 9.39%
13 11/01/2012 4,359,657.99 8.20%
14 11/01/2010 4,339,874.08 9.23%
15 11/01/2011 3,980,531.03 8.42%
16 12/01/2007 3,889,078.24 8.77%
17 09/01/2010 3,874,860.75 9.24%
18 12/01/2005 3,728,032.13 8.65%
19 11/01/2002 3,681,296.11 8.20%
20 10/01/2005 3,583,540.11 8.94%
21 11/01/2010 3,411,139.55 8.30%
22 12/01/2002 3,339,171.26 7.89%
23 08/01/2010 3,208,997.36 9.57%
24 08/01/2010 3,179,146.22 9.57%
25 08/01/2010 3,022,427.71 9.57%
26 06/01/2010 2,962,909.30 9.93%
27 10/01/2010 2,928,865.33 8.64%
28 12/01/2014 2,875,014.61 9.55%
29 12/01/2005 2,786,081.22 8.25%
30 10/01/2005 2,787,613.53 9.14%
31 09/01/2010 2,779,546.75 9.10%
32 12/01/2005 2,692,708.15 8.99%
33 10/01/2007 2,687,896.92 9.06%
34 09/01/2010 2,587,205.74 9.62%
35 11/01/2005 2,570,418.37 8.31%
36 12/01/2007 2,492,952.58 8.73%
37 09/06/2007 2,387,647.44 9.35%
38 12/01/2002 2,348,355.58 8.31%
39 12/01/2002 2,243,832.75 8.90%
40 11/01/2010 2,227,408.52 9.70%
41 10/01/2007 2,190,170.76 9.08%
42 10/01/2005 2,125,602.06 9.17%
43 08/01/2005 2,124,028.09 9.08%
44 11/01/2007 2,017,693.38 9.00%
45 09/01/2010 2,014,968.56 9.58%
46 12/01/2007 1,894,705.40 8.80%
47 12/01/2007 1,891,093.14 8.72%
48 12/01/2010 1,891,412.31 9.01%
49 11/01/2007 1,748,508.94 8.85%
50 12/01/2007 1,695,293.88 8.84%
51 11/01/2010 1,680,919.82 8.45%
52 09/01/2010 1,665,847.34 9.66%
53 09/01/2010 1,662,901.72 9.18%
54 12/01/2011 1,638,737.84 9.39%
55 12/01/2010 1,495,514.52 8.37%
56 11/01/2010 1,490,554.87 8.69%
57 12/01/2007 1,488,400.98 8.62%
58 09/01/2010 1,442,959.44 9.70%
59 08/01/2005 1,406,427.62 9.32%
60 09/01/2005 1,391,403.45 9.24%
61 07/01/2010 1,370,064.63 9.17%
62 09/01/2007 1,342,817.97 9.15%
63 12/01/2010 1,313,587.55 8.15%
64 11/01/2010 1,320,115.45 8.87%
65 12/01/2002 1,293,585.71 8.31%
66 12/01/2007 1,296,311.16 8.69%
67 12/01/2007 1,271,516.76 8.92%
68 09/01/2007 1,239,090.59 9.38%
69 11/01/2010 1,195,375.70 8.60%
70 12/01/2005 1,146,847.85 8.90%
71 09/01/2010 1,142,776.90 10.06%
72 07/01/2010 1,077,805.97 9.83%
73 12/01/2007 1,047,074.05 8.80%
74 07/01/2005 991,937.27 8.41%
75 08/01/2007 918,955.95 8.86%
76 11/01/2007 896,616.05 8.75%
77 10/01/2007 895,905.29 8.97%
78 12/01/2010 847,627.44 8.79%
79 12/01/2010 822,572.97 8.47%
80 08/01/2010 785,245.54 9.36%
81 09/01/2007 745,970.30 9.09%
82 09/01/2007 733,773.97 9.67%
83 08/01/2003 720,556.71 9.25%
84 09/01/2005 646,682.16 9.40%
85 08/01/2007 596,040.93 8.80%
- -- -- -- ---- ---------- ----
221,516,028.58 0.00%
============== ====
</TABLE>
Page - 20
<PAGE>
<TABLE>
<CAPTION>
Offering Scheduled
Circular Principal Prepayments Prepayment
Control # Payment /Liquidations Date
<S> <C> <C> <C>
1 7,989.25 0
2 7,859.29 0
3 11,773.90 0
4 8,351.06 0
5 2,571.20 0
6 6,929.89 0
7 5,278.16 0
8 16,036.92 0
9 5,840.53 0
10 5,177.25 0
11 4,372.02 0
12 3,883.69 0
13 10,258.38 0
14 3,854.48 0
15 6,580.94 0
16 3,693.93 0
17 4,303.51 0
18 7,428.44 0
19 3,866.13 0
20 3,365.92 0
21 3,525.23 0
22 3,657.15 0
23 2,742.05 0
24 2,716.54 0
25 2,582.63 0
26 4,293.58 0
27 2,888.29 0
28 4,621.48 0
29 4,703.53 0
30 2,534.19 0
31 3,499.92 0
32 2,467.13 0
33 2,475.72 0
34 2,192.60 0
35 4,344.59 0
36 2,383.40 0
37 2,115.27 0
38 3,935.36 0
39 2,086.32 0
40 5,762.46 0
41 2,010.70 0
42 1,922.90 0
43 1,983.25 0
44 1,861.03 0
45 1,718.93 0
46 1,790.81 0
47 3,012.21 0
48 2,905.66 0
49 1,652.80 0
50 1,591.88 0
51 4,854.31 0
52 2,425.68 0
53 2,070.71 0
54 3,812.96 0
55 1,516.07 0
56 2,404.19 0
57 2,400.42 0
58 1,206.85 0
59 1,262.97 0
60 1,266.19 0
61 2,281.28 1592.03 05/10/04
62 1,229.15 0
63 3,855.94 0
64 1,243.79 0
65 2,167.78 0
66 1,247.47 0
67 1,178.38 0
68 1,868.30 0
69 1,176.86 0
70 1,066.34 0
71 1,582.60 0
72 2,877.49 0
73 989.66 0
74 1,039.88 0
75 889.12 0
76 861.46 0
77 837.40 0
78 802.47 0
79 820.46 0
80 700.56 0
81 689.53 0
82 1,067.13 0
83 654.48 0
84 568.23 0
85 582.29 0
- -- ------ -
270,890.90 1592.03
========== =======
</TABLE>
Page - 21
<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 - 22
<PAGE>
<TABLE>
SPECIALLY SERVICED LOAN DETAIL
No specially serviced mortgage loans as of the current Due Date.
<CAPTION>
Offering Sched Sched
Distribution Circular Principal Interest
Date Control # Balance Rate
<S> <C> <C> <C>
</TABLE>
<TABLE>
<CAPTION>
Distribution Maturity Property
Date Date Type State
<S> <C> <C> <C>
</TABLE>
<TABLE>
<CAPTION>
Distribution Date of last Net Operating Debt Service
Date Operating Stmt Income Coverage Ratio
<S> <C> <C> <C>
</TABLE>
<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>
<TABLE>
MODIFIED LOAN DETAIL
No modified loans as of the current Due Date.
<CAPTION>
Offering
Distribution Circular Modification Modification
Date Control # Date Description
<S> <C> <C> <C>
</TABLE>
Page - 23
<PAGE>
<TABLE>
REALIZED LOSS DETAIL
No Realized Loss loans as of the current Due Date.
<CAPTION>
Offering
Distribution Circular Appraisal Appraisal Value/
Date Control # Date Brokers Estimate
<S> <C> <C> <C>
Current Total
Cumulative
</TABLE>
<TABLE>
<CAPTION>
Offering Sched
Distribution Circular Principal Gross
Date Control # Balance Proceeds
<S> <C> <C> <C>
Current Total
Cumulative
</TABLE>
<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>
<TABLE>
<CAPTION>
Net Proceeds Current
Distribution as a % of Realized
Date Sched. Balance Loss
<S> <C> <C>
Current Total
Cumulative
</TABLE>
Page - 24
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN STATUS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 16-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 8,226,202 0 67.4% 1.52 N/A PERFORMING PERFORM TO MATURITY
02 8,092,389 0 51.9% 1.38 N/A PERFORMING PERFORM TO MATURITY
03 7,341,977 0 65.6% 1.33 N/A PERFORMING PERFORM TO MATURITY
04 6,704,925 0 53.9% 1.54 N/A PERFORMING PERFORM TO MATURITY
05 6,539,823 0 68.8% 1.49 N/A PERFORMING PERFORM TO MATURITY
06 6,465,811 0 57.2% 1.59 N/A PERFORMING PERFORM TO MATURITY
07 6,043,939 0 68.4% 1.37 N/A PERFORMING PERFORM TO MATURITY
08 5,452,209 0 59.6% 1.22 N/A PERFORMING PERFORM TO MATURITY
09 5,326,866 0 73.0% 1.39 N/A PERFORMING PERFORM TO MATURITY
10 4,729,493 0 70.6% 1.32 N/A PERFORMING PERFORM TO MATURITY
11 4,486,977 0 72.4% 1.48 N/A PERFORMING PERFORM TO MATURITY
12 4,447,146 0 64.5% 1.41 N/A PERFORMING PERFORM TO MATURITY
13 4,349,400 0 60.8% 1.30 N/A PERFORMING PERFORM TO MATURITY
14 4,336,020 0 64.7% 1.43 N/A PERFORMING PERFORM TO MATURITY
15 3,973,950 0 72.3% 1.29 N/A PERFORMING PERFORM TO MATURITY
16 3,885,384 0 72.6% 1.41 N/A PERFORMING PERFORM TO MATURITY
17 3,870,557 0 55.3% 1.59 N/A PERFORMING PERFORM TO MATURITY
18 3,720,604 0 74.4% 1.34 N/A PERFORMING PERFORM TO MATURITY
19 3,677,430 0 72.1% 1.54 N/A PERFORMING PERFORM TO MATURITY
20 3,580,174 0 66.3% 1.47 N/A PERFORMING PERFORM TO MATURITY
21 3,407,614 0 69.8% 1.43 N/A PERFORMING PERFORM TO MATURITY
22 3,335,514 0 69.0% 1.40 N/A PERFORMING PERFORM TO MATURITY
23 3,206,255 0 74.6% 1.20 N/A PERFORMING PERFORM TO MATURITY
24 3,176,430 0 75.0% 1.20 N/A PERFORMING PERFORM TO MATURITY
25 3,019,845 0 74.6% 1.20 N/A PERFORMING PERFORM TO MATURITY
26 2,958,616 0 67.2% 1.56 N/A PERFORMING PERFORM TO MATURITY
27 2,925,977 0 69.5% 1.39 N/A PERFORMING PERFORM TO MATURITY
28 2,870,393 0 51.1% 1.35 N/A PERFORMING PERFORM TO MATURITY
29 2,781,378 0 74.5% 1.27 N/A PERFORMING PERFORM TO MATURITY
30 2,785,079 0 71.4% 1.39 N/A PERFORMING PERFORM TO MATURITY
31 2,779,547 16 74.3% 1.34 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
32 2,690,241 0 74.7% 1.22 N/A PERFORMING PERFORM TO MATURITY
33 2,685,421 0 70.7% 1.49 N/A PERFORMING PERFORM TO MATURITY
34 2,585,013 0 73.9% 1.48 N/A PERFORMING PERFORM TO MATURITY
35 2,566,074 0 74.4% 1.34 N/A PERFORMING PERFORM TO MATURITY
36 2,490,569 0 64.9% 1.46 N/A PERFORMING PERFORM TO MATURITY
37 2,385,532 0 66.3% 1.42 N/A PERFORMING PERFORM TO MATURITY
38 2,344,420 0 51.0% 1.43 N/A PERFORMING PERFORM TO MATURITY
39 2,241,746 0 80.1% 1.21 N/A PERFORMING PERFORM TO MATURITY
40 2,221,646 0 61.7% 1.54 N/A PERFORMING PERFORM TO MATURITY
41 2,188,160 0 71.7% 1.53 N/A PERFORMING PERFORM TO MATURITY
42 2,123,679 0 64.4% 1.46 N/A PERFORMING PERFORM TO MATURITY
43 2,122,045 0 74.5% 1.45 N/A PERFORMING PERFORM TO MATURITY
44 2,015,832 0 72.0% 1.51 N/A PERFORMING PERFORM TO MATURITY
45 2,013,250 0 61.9% 1.51 N/A PERFORMING PERFORM TO MATURITY
46 1,892,915 0 64.2% 1.52 N/A PERFORMING PERFORM TO MATURITY
47 1,888,081 0 63.1% 1.47 N/A PERFORMING PERFORM TO MATURITY
48 1,888,507 0 61.9% 1.49 N/A PERFORMING PERFORM TO MATURITY
49 1,746,856 0 67.8% 1.38 N/A PERFORMING PERFORM TO MATURITY
50 1,693,702 0 67.7% 1.51 N/A PERFORMING PERFORM TO MATURITY
51 1,676,066 0 56.8% 1.24 N/A PERFORMING PERFORM TO MATURITY
52 1,663,422 0 74.3% 1.57 N/A PERFORMING PERFORM TO MATURITY
53 1,662,902 16 74.2% 1.32 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
54 1,634,925 0 63.6% 1.38 N/A PERFORMING PERFORM TO MATURITY
55 1,493,998 0 68.1% 1.41 N/A PERFORMING PERFORM TO MATURITY
56 1,488,151 0 60.0% 1.51 N/A PERFORMING PERFORM TO MATURITY
57 1,486,001 0 74.5% 1.37 N/A PERFORMING PERFORM TO MATURITY
58 1,441,753 0 65.8% 1.39 N/A PERFORMING PERFORM TO MATURITY
59 1,405,165 0 58.5% 1.61 N/A PERFORMING PERFORM TO MATURITY
60 1,390,137 0 66.2% 1.32 N/A PERFORMING PERFORM TO MATURITY
61 1,366,191 0 70.1% 1.49 N/A PERFORMING PERFORM TO MATURITY
62 1,341,589 0 58.3% 1.93 N/A PERFORMING PERFORM TO MATURITY
63 1,309,732 0 44.2% 1.79 N/A PERFORMING PERFORM TO MATURITY
64 1,318,872 0 65.9% 1.27 N/A PERFORMING PERFORM TO MATURITY
</TABLE>
Page - 25
<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 1,291,418 0 62.2% 1.18 N/A PERFORMING PERFORM TO MATURITY
66 1,295,064 0 63.2% 1.57 N/A PERFORMING PERFORM TO MATURITY
67 1,270,338 0 57.7% 1.33 N/A PERFORMING PERFORM TO MATURITY
68 1,237,222 0 50.0% 1.47 N/A PERFORMING PERFORM TO MATURITY
69 1,194,199 0 62.9% 1.31 N/A PERFORMING PERFORM TO MATURITY
70 1,146,848 16 60.4% 1.64 N/A PERFORMING PERFORM TO MATURITY
71 1,141,194 0 64.3% 1.36 N/A PERFORMING PERFORM TO MATURITY
72 1,074,928 0 37.1% 1.44 N/A PERFORMING PERFORM TO MATURITY
73 1,046,084 0 70.4% 1.58 N/A PERFORMING PERFORM TO MATURITY
74 990,897 0 64.3% 1.31 N/A PERFORMING PERFORM TO MATURITY
75 918,067 0 72.9% 1.48 N/A PERFORMING PERFORM TO MATURITY
76 895,755 0 74.6% 1.50 N/A PERFORMING PERFORM TO MATURITY
77 895,068 0 59.7% 1.56 N/A PERFORMING PERFORM TO MATURITY
78 846,825 0 66.4% 1.60 N/A PERFORMING PERFORM TO MATURITY
79 821,753 0 74.7% 1.74 N/A PERFORMING PERFORM TO MATURITY
80 784,545 0 73.3% 1.29 N/A PERFORMING PERFORM TO MATURITY
81 745,281 0 57.3% 1.34 N/A PERFORMING PERFORM TO MATURITY
82 732,707 0 61.1% 1.48 N/A PERFORMING PERFORM TO MATURITY
83 719,902 0 55.4% 1.38 N/A PERFORMING PERFORM TO MATURITY
84 646,114 0 68.4% 1.38 N/A PERFORMING PERFORM TO MATURITY
85 595,459 0 50.5% 1.56 N/A PERFORMING PERFORM TO MATURITY
- -- ------- - ---- ----
TOTAL 221,250,183
===========
</TABLE>
Page - 26
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN TERMS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 14-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 8,226,202 12/1/95 1/1/2021 176 8.590% F 66,932
02 8,092,389 12/1/95 1/1/2021 176 8.590% F 65,844
03 7,341,977 10/27/95 11/1/2015 234 8.750% F 65,395
04 6,704,925 10/14/93 11/1/2018 54 8.350% F 55,064
05 6,539,823 11/10/95 12/1/2019 115 8.510% F 48,968
06 6,465,811 10/31/95 11/1/2020 78 8.080% F 50,513
07 6,043,939 9/29/95 10/1/2020 173 9.390% F 52,613
08 5,452,209 12/6/95 1/1/2011 80 8.050% F 52,720
09 5,326,866 11/20/95 12/1/2020 79 7.890% F 40,903
10 4,729,493 11/2/95 12/1/2020 55 7.900% F 36,347
11 4,486,977 12/5/95 1/1/2021 140 8.570% F 36,448
12 4,447,146 9/29/95 10/1/2020 173 9.390% F 38,713
13 4,349,400 10/31/95 11/1/2012 198 8.200% F 40,049
14 4,336,020 10/5/95 11/1/2020 174 9.230% F 37,235
15 3,973,950 11/7/95 12/1/2011 186 8.420% F 34,511
16 3,885,384 11/30/95 12/1/2020 139 8.770% F 32,117
17 3,870,557 8/3/95 9/1/2018 172 9.240% F 34,140
18 3,720,604 11/30/95 12/1/2014 115 8.650% F 34,301
19 3,677,430 10/6/95 11/1/2020 78 8.200% F 29,022
20 3,580,174 9/15/95 10/1/2020 113 8.940% F 30,063
21 3,407,614 10/19/95 11/1/2020 174 8.300% F 27,119
22 3,335,514 11/20/95 12/1/2020 79 7.890% F 25,612
23 3,206,255 8/11/95 9/1/2020 171 9.570% F 28,334
24 3,176,430 8/11/95 9/1/2020 171 9.570% F 28,070
25 3,019,845 8/11/95 9/1/2020 171 9.570% F 26,686
26 2,958,616 5/15/95 6/1/2015 169 9.930% F 28,812
27 2,925,977 9/28/95 10/1/2020 173 8.640% F 23,976
28 2,870,393 5/24/95 12/1/2014 223 9.550% F 27,502
29 2,781,378 11/30/95 12/1/2015 115 8.250% F 23,858
30 2,785,079 9/29/95 10/1/2020 113 9.140% F 23,767
31 2,779,547 8/9/95 9/1/2017 172 9.100% F 24,578
32 2,690,241 11/13/95 12/1/2020 115 8.990% F 22,640
33 2,685,421 9/11/95 10/1/2020 137 9.060% F 22,769
34 2,585,013 8/10/95 9/1/2020 172 9.620% F 22,933
35 2,566,074 12/1/95 11/1/2015 114 8.310% F 22,145
36 2,490,569 11/17/95 12/1/2020 139 8.730% F 20,520
37 2,385,532 8/15/95 9/6/2020 136 9.350% F 20,719
38 2,344,420 11/10/95 12/1/2015 79 8.310% F 20,198
39 2,241,746 11/14/95 12/1/2020 79 8.900% F 18,728
40 2,221,646 10/19/95 11/1/2010 174 9.700% F 23,767
41 2,188,160 9/14/95 10/1/2020 137 9.080% F 18,583
42 2,123,679 9/29/95 10/1/2020 113 9.170% F 18,166
43 2,122,045 7/21/95 8/1/2020 111 9.080% F 18,055
44 2,015,832 10/10/95 11/1/2020 138 9.000% F 16,994
45 2,013,250 8/25/95 9/1/2020 172 9.580% F 17,805
46 1,892,915 11/17/95 12/1/2020 139 8.800% F 15,685
47 1,888,081 12/1/95 12/1/2015 139 8.720% F 16,754
48 1,888,507 11/16/95 12/1/2015 175 9.010% F 17,107
49 1,746,856 10/27/95 11/1/2020 138 8.850% F 14,548
50 1,693,702 11/14/95 12/1/2020 139 8.840% F 14,081
51 1,676,066 10/31/95 11/1/2010 174 8.450% F 16,691
52 1,663,422 9/1/95 9/1/2015 172 9.660% F 15,836
53 1,662,902 8/11/95 9/1/2017 172 9.180% F 14,792
54 1,634,925 12/1/95 12/1/2011 187 9.390% F 16,636
55 1,493,998 12/1/95 12/1/2020 175 8.370% F 11,947
56 1,488,151 10/11/95 11/1/2015 174 8.690% F 13,198
57 1,486,001 11/30/95 12/1/2015 139 8.620% F 13,092
58 1,441,753 8/15/95 9/1/2020 172 9.700% F 12,871
59 1,405,165 7/21/95 8/1/2020 111 9.320% F 12,186
60 1,390,137 7/6/95 8/1/2020 112 9.240% F 11,980
61 1,366,191 6/23/95 7/1/2015 170 9.170% F 12,750
62 1,341,589 8/30/95 9/1/2020 136 9.150% F 11,468
63 1,309,732 11/20/95 12/1/2010 175 8.150% F 12,777
64 1,318,872 10/20/95 11/1/2020 174 8.870% F 11,002
</TABLE>
Page - 27
<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>
65 1,291,418 11/10/95 12/1/2015 79 8.310% F 11,126
66 1,295,064 11/15/95 12/1/2020 139 8.690% F 10,635
67 1,270,338 11/2/95 12/1/2020 139 8.920% F 10,630
68 1,237,222 8/10/95 9/1/2015 136 9.380% F 11,554
69 1,194,199 10/24/95 11/1/2020 174 8.600% F 9,744
70 1,146,848 11/30/95 12/1/2020 115 8.900% F 9,572
71 1,141,194 8/9/95 9/1/2015 172 10.060% F 11,163
72 1,074,928 6/30/95 7/1/2010 170 9.830% F 11,707
73 1,046,084 11/20/95 12/1/2020 139 8.800% F 8,668
74 990,897 6/30/95 7/1/2020 110 8.410% F 7,992
75 918,067 7/12/95 8/1/2020 135 8.860% F 7,674
76 895,755 10/20/95 11/1/2020 138 8.750% F 7,399
77 895,068 9/29/95 10/1/2020 137 8.970% F 7,534
78 846,825 11/30/95 12/1/2020 175 8.790% F 7,011
79 821,753 11/21/95 12/1/2020 175 8.470% F 6,626
80 784,545 7/20/95 8/1/2020 171 9.360% F 6,825
81 745,281 8/30/95 9/1/2020 136 9.090% F 6,340
82 732,707 8/28/95 9/1/2015 136 9.670% F 6,980
83 719,902 7/20/95 8/1/2020 87 9.250% F 6,209
84 646,114 8/1/95 9/1/2020 112 9.400% F 5,634
85 595,459 7/19/95 8/1/2020 135 8.800% F 4,953
- -- ------- - -- -- - - ---- --- ----- -----
TOTAL 221,250,183
===========
</TABLE>
Page - 28
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY DESCRIPTION
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 22-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 84,323 12,200,000 11/15/95 MAI APPRAISAL
02 1 RETAIL QUINCY MA 02169 1964 102,764 15,600,000 11/15/95 MAI APPRAISAL
03 1 MIXED USE WASHINGTON DC 20007 1991 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 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 117,952 8,840,000 9/14/95 MAI APPRAISAL
08 1 RETAIL MESQUITE TX 75150 1995 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 58,408 6,200,000 10/13/95 MAI APPRAISAL
12 1 RETAIL YUBA CITY CA 95991 1989 86,582 6,900,000 9/12/95 MAI APPRAISAL
13 1 INDUSTRIAL OCEANSIDE CA 92054 1979 155,200 7,150,000 9/28/95 MAI APPRAISAL
14 1 RETAIL EUREKA CA 95503 1989 89,171 6,700,000 5/8/95 MAI APPRAISAL
15 1 RETAIL JOHNSTON RI 02919 1984 105,180 5,500,000 10/1/95 MAI APPRAISAL
16 1 RETAIL HOUSTON TX 77031 1974 96,109 5,350,000 10/5/95 MAI APPRAISAL
17 1 RETAIL LITTLE ROCK AR 72202 1984 148,664 7,000,000 3/25/95 MAI APPRAISAL
18 1 RETAIL THIBODAUX LA 70301 1980 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 54,700 5,400,000 7/10/95 MAI APPRAISAL
21 1 RETAIL CORONA CA 91720 1989 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 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 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 100,576 3,800,000 7/28/95 MAI APPRAISAL
34 1 OFFICE MINNEAPOLIS MN 55401 1896 60,550 3,500,000 7/12/95 MAI APPRAISAL
35 1 RETAIL OKEMOS MI 48864 1971 18,436 1,750,000 8/22/95 MAI APPRAISAL
35 2 RETAIL JOLIET IL 60431 1984 18,830 1,700,000 8/21/95 MAI APPRAISAL
36 1 RETAIL LOS ANGELES CA 90025 1984 18,792 3,840,000 9/14/95 MAI APPRAISAL
37 1 RETAIL MINNETONKA MN 55345 1987 43,120 3,600,000 6/19/95 MAI APPRAISAL
38 1 MANUFACTURED HOU PUEBLO CO 81001 1974 388 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 46,831 3,600,000 5/3/95 MAI APPRAISAL
41 1 INDUSTRIAL VADNAIS HEIGHTS MN 55110 1990 60,719 3,050,000 7/21/95 MAI APPRAISAL
42 1 RETAIL HARRISONBURG VA 22801 1992 44,920 3,300,000 8/25/95 MAI APPRAISAL
43 1 RETAIL GEDDES NY 13219 1973 60,500 2,850,000 5/15/95 MAI APPRAISAL
44 1 RETAIL KATY TX 77450 1984 50,050 2,800,000 8/18/95 MAI APPRAISAL
45 1 RETAIL DANVERS MA 01923 1960 39,850 3,250,000 5/16/95 MAI APPRAISAL
46 1 OFFICE AVON IN 46122 1988 38,519 2,950,000 10/3/95 MAI APPRAISAL
47 1 OFFICE ALBUQUERQUE NM 87107 1973 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 28,000 2,575,000 8/17/95 MAI APPRAISAL
50 1 OFFICE RIVERSIDE CA 92507 1990 25,865 2,500,000 9/30/95 MAI APPRAISAL
51 1 WAREHOUSE PHOENIX AZ 85017 1959 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 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 HEALTH CARE METARIE LA 70002 1975 30 21,097 450,027 10/19/95 MAI APPRAISAL
57 2 HEALTH CARE METARIE LA 70002 1985 32 17,664 479,973 10/19/95 MAI APPRAISAL
</TABLE>
Page - 29
<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 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 48,790 1,950,000 5/1/95 MAI APPRAISAL
62 1 OFFICE GRAPEVINE TX 76051 1978 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 2,075,000 8/30/95 MAI APPRAISAL
66 1 MIXED USE LYNNWOOD WA 98036 1980 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 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 10,200 1,260,000 5/19/95 MAI APPRAISAL
76 1 INDUSTRIAL NIAGARA NY 14305 1988 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 60,000 1,275,000 5/23/95 MAI APPRAISAL
79 1 OFFICE ROSEVILLE MN 55113 1973 24,139 1,100,000 10/6/95 MAI APPRAISAL
80 1 RETAIL MIDDLETOWN CT 06457 1955 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 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 - 30
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY PERFORMANCE
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 22-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 $ 860,906 1/1/95 12/31/95 BORROWER 96.3% 12/31/95
04 3 352,870 12/1/95 PROSPECTUS $ 542,913 1/1/95 12/31/95 BORROWER 99.0% 12/31/95
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 100.0% 3/1/96
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 $ 54,788 12/6/95 12/31/95 BORROWER 100.0% 3/19/96
09 1 680,546 12/1/95 PROSPECTUS $ 737,155 1/1/95 12/31/95 MANAGEMENT COMPANY 93.7% 1/31/96
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 $ 95,573 1/1/96 2/29/96 BORROWER 97.8% 3/20/96
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 89.9% 11/1/95
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 $ 470,733 1/1/95 12/31/95 MANAGEMENT COMPANY 95.0% 1/31/96
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 $ 51,441 1/1/96 2/29/96 BORROWER 48.2% 2/29/96
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 97.4% 10/31/95
29 1 364,381 12/1/95 PROSPECTUS $ 361,854 1/1/95 12/31/95 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 $ 642,248 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 97.2% 10/27/95
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 $ 107,850 9/14/95 12/31/95 BORROWER 100.0% 11/1/95
42 1 318,203 12/1/95 PROSPECTUS 100.0% 9/15/95
43 1 313,952 12/1/95 PROSPECTUS $ 236,377 1/1/95 12/31/95 BORROWER 88.1% 10/26/95
44 1 307,847 12/1/95 PROSPECTUS 94.0% 10/27/95
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 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 ($ 14,157) 10/11/95 12/31/95 BORROWER 100.0% 3/1/96
57 1 43,097 12/1/95 PROSPECTUS 90.3% 10/12/95
57 2 45,952 12/1/95 PROSPECTUS 90.3% 10/12/95
57 3 59,395 12/1/95 PROSPECTUS 90.3% 10/12/95
57 4 66,287 12/1/95 PROSPECTUS 90.3% 10/12/95
58 1 214,383 12/1/95 PROSPECTUS $ 260,012 1/1/95 12/31/95 BORROWER 98.8% 12/29/95
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 - 31
<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 $ 294,408 1/1/95 12/31/95 MANAGEMENT COMPANY 100.0% 1/26/96
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 $ 171,458 1/1/95 12/31/95 BORROWER 100.0% 1/2/96
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 $ 99,584 1/1/95 12/31/95 BORROWER 92.1% 1/18/96
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 $ 88,265 1/1/95 12/31/95 BORROWER 99.0% 9/1/95
85 1 92,650 12/1/95 PROSPECTUS $ 82,402 1/1/95 12/31/95 95.3% 1/31/96
</TABLE>
Page - 32
<PAGE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN COMMENTS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 21-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. Partial Year
Statement Comment: 12/31/95 - PROPERTY IS LEASED ON A NNN LEASE WITH MOST
EXPENSES PASSED THROUGH TO TENANT.
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:
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 YEAR. HOWEVER,
STATEMENT REFLECTS ONLY THREE MONTHS OF OPERATIONS.
LOAN 20 - 1:
LOAN 21 - 1:
LOAN 22 - 1:
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.
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.
Page - 33
<PAGE>
LOAN 26 - 1: Partial Year Statement Comment: 2/29/96 - ANNUALIZED YEAR
TO DATE REVENUE IS 20% BELOW BASELINE EXPECTATION. HOWEVER, MANAGER STATES
THAT POOR WEATHER IN FIRST TWO MONTHS OF THE YEAR CAUSED DECLINE IN
CORPORATE BUSINESS WHICH NORMALLY PROVIDES MOST OF THE REVENUE DURING WINTER
MONTHS.
LOAN 27 - 1:
LOAN 28 - 1:
LOAN 29 - 1:
LOAN 30 - 1:
LOAN 30 - 2:
LOAN 30 - 3:
LOAN 31 - 1: Status Comment: February and March payments were 30 days
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: Partial Year Statement Comment: 12/31/95 - YEAR TO DATE
IS FOR THE PERIOD FROM THE DATE OF ACQUISITION ON APRIL 24, 1995 THROUGH
DECEMBER 31, 1995.
LOAN 39 - 1:
LOAN 40 - 1:
LOAN 41 - 1:
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. REQUESTED CURRENT RENT ROLL FROM BORROWER.
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:
LOAN 53 - 1: Status Comment: February and March payments were 30 days
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.
Page - 34
<PAGE>
LOAN 56 - 1: Partial Year Statement Comment: 12/31/95 - EXPENSES
EXCEEDED BASELINE ESTIMATE BY 20%. HOWEVER, PROPERTY WAS RECENTLY ACQUIRED
AND STATEMENT COVERS ONLY A LIMITED PERIOD OF TIME.
LOAN 57 - 1:
LOAN 57 - 4:
LOAN 57 - 3:
LOAN 57 - 2:
LOAN 58 - 1:
LOAN 59 - 1:
LOAN 60 - 1:
LOAN 61 - 1:
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:
LOAN 64 - 1: Partial Year Statement Comment: 12/31/95 - ANNUAL
STATEMENT DID NOT INCLUDE ANY PROPERTY TAX EXPENSE. ENTERED ESTIMATED
PROPERTY TAX EXPENSE BASED ON SERVICING INFORMATION.
LOAN 65 - 1: Partial Year Statement Comment: 12/31/95 - YEAR TO DATE
IS FOR THE PERIOD FROM THE DATE OF ACQUISITION ON APRIL 24, 1995 THROUGH
DECEMBER 31, 1995.
LOAN 66 - 1:
LOAN 67 - 1:
LOAN 68 - 1: Partial Year Statement Comment: 12/31/95 - ANNUAL
PROPERTY TAXES REPORTED ON BORROWER STATEMENT ARE APPROXIMATELY $33,000
GREATER THAN ESTIMATE BASED ON SERVICING INFORMATION. ENTERED ESTIMATE
BASED ON SERVICING INFORMATION.
LOAN 69 - 1:
LOAN 70 - 1:
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:
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:
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 - 35
