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Previous: BRE PROPERTIES INC /MD/, S-3, 1997-04-10 |
Next: KEYSTONE AUTOMOTIVE INDUSTRIES INC, 8-K, 1997-04-10 |
<PAGE>
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 report): February 28, 1996
BANKAMERICA MANUFACTURED HOUSING CONTRACT TRUST
BANK OF AMERICA NATIONAL TRUST BANK OF AMERICA, FSB
AND SAVINGS ASSOCIATION
- --------------------------------------------------------------------------------
(EXACT NAME OF REGISTRANTS AS SPECIFIED IN ITS CHARTER)
UNITED STATES UNITED STATES
- --------------------------------------------------------------------------------
(STATE OR OTHER JURISDICTION OF INCORPORATION)
333-3200
----------
(COMMISSION FILE NUMBER)
94-1687665 91-0221850
- --------------------------------------------------------------------------------
(I.R.S. EMPLOYER IDENTIFICATION NUMBER
555 CALIFORNIA STREET 555 CALIFORNIA STREET
SAN FRANCISCO, CA 94104 SAN FRANCISCO, CA 94104
(415) 622-3530 (415) 622-2220
- --------------------------------------------------------------------------------
(ADDRESS AND TELEPHONE NUMBER OF REGISTRANTS' PRINCIPAL EXECUTIVE OFFICES)
<PAGE>
Item 5. Other Events
(a) Monthly Report
The following are filed herewith. The exhibit numbers correspond with Item 601
(b) of Regulation S-K.
Exhibit No. Description
21 Monthly Statements mailed to Certificate
holders pursuant to the Pooling and Servicing
Agreement by and among Bank of America, FSB,
Bank of America National Trust and Savings
Association, and The First National Bank of
Chicago, as Trustee, dated as of June 1, 1996
(a copy of which agreement was filed by the
registrant with the Commission of June 11,
1996 to a report on Form 8-K).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants duly caused this report to be signed on their behalf by the
undersigned thereunto duly authorized.
BANK OF AMERICA NATIONAL TRUST
AND SAVINGS ASSOCIATION
BANK OF AMERICA, FSB
BY: /S/ John W. Wheeler
------------------------
John W. Wheeler*
Dated: March 13, 1997
San Diego, California
* Mr. Wheeler is an Executive Vice President of Bank of America National Trust
and Savings Association and president and Division Chief Executive Officer of
Bank of America, FSB.
<PAGE>
BankAmerica Manufactured Housing Contract Trust
Senior/ Subordinate Pass-Through Certificates
Series 1996-1, Investor Number 19962001
<TABLE>
<CAPTION>
MONTHLY SERVICING SUMMARY
Period Ending: 02/28/97
Pass Through
Rate Balance Pool Factor
----------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Determination Date: 03/05/97 Scheduled Pool $233,707,818.71 95.0861207%
Remittance Date: 03/10/97 Class A-1 Certificate 6.1250% 33,264,701.62 70.5822352%
Class A-2 Certificate 6.6500% 51,893,000.00 100.0000000%
Prior Period WAC 10.62% Class A-3 Certificate 6.9500% 20,316,000.00 100.0000000%
Current Period WAC 10.62% Class A-4 Certificate 7.3000% 26,068,000.00 100.0000000%
Class A-5 Certificate 7.5500% 28,483,000.00 100.0000000%
Senior Percentage 100.00% Class A-6 Certificate 8.0000% 27,040,000.00 100.0000000%
Class A-7 Percentage 0.00% Class A-7 Certificate 7.8000% 20,891,000.00 100.0000000%
Class B Percentage 0.00% Class B-1 Certificate 7.8750% 15,361,000.00 100.0000000%
Class B-2 Certificate 8.5000% 8,604,417.44 100.0000000%
I. RECAP OF POOL:
<CAPTION>
Loan Count CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4
------------ -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
Beginning Certificate Balance 8,734 $35,051,401.27 $51,893,000.00 $20,316,000.00 $26,068,000.00
Scheduled Principal Reduction (394,563.68) 0.00 0.00 0.00
Partial Principal Prepayments (78,945.40) 0.00 0.00 0.00
Principal Prepayments In Full (33) (656,641.02) 0.00 0.00 0.00
Contract Liquidations (25) (656,549.55) 0.00 0.00 0.00
Contract Repurchases 0 0.00 0.00 0.00 0.00
Previously Undistributed
Shortfalls 0.00 0.00 0.00 0.00
------------ -------------- -------------- -------------- --------------
Remaining Certificate Balance 8,676 $33,264,701.62 $51,893,000.00 $20,316,000.00 $26,068,000.00
------------ -------------- -------------- -------------- --------------
------------ -------------- -------------- -------------- --------------
CLASS A-5 CLASS A-6 CLASS A-7 CLASS B-1 CLASS B-2
------------ -------------- -------------- -------------- --------------
Beginning Certificate Balance $28,483,000.00 $27,040,000.00 $20,891,000.00 $15,361,000.00 $8,604,417.44
Scheduled Principal Reduction 0.00 0.00 0.00 0.00 0.00
Partial Principal Prepayments 0.00 0.00 0.00 0.00 0.00
Principal Prepayments In Full 0.00 0.00 0.00 0.00 0.00
Contract Liquidations 0.00 0.00 0.00 0.00 0.00
Contract Repurchases 0.00 0.00 0.00 0.00 0.00
Previously Undistributed
Shortfalls 0.00 0.00 0.00 0.00 0.00
------------- -------------- -------------- -------------- --------------
Remaining Certificate Balance $28,483,000.00 $27,040,000.00 $20,891,000.00 $15,361,000.00 $8,604,417.44
------------- -------------- -------------- -------------- --------------
------------- -------------- -------------- -------------- --------------
</TABLE>
<PAGE>
BankAmerica Manufactured Housing Contract Trust
Senior/ Subordinate Pass-Through Certificates
Series 1996-1, Investor Number 19962001
<TABLE>
<CAPTION>
MONTHLY SERVICING SUMMARY
II. DISTRIBUTIONS:
CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4
------------- -------------- ----------- -----------
<S> <C> <C> <C> <C>
Principal Distribution Amount $1,786,699.65 $0.00 $0.00 $0.00
Interest Distribution Amount 178,908.19 287,573.71 117,663.50 158,580.33
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00
------------- -------------- ----------- -----------
Total Distribution $1,965,607.84 $287,573.71 $117,663.50 $158,580.33
------------- -------------- ----------- -----------
------------- -------------- ----------- -----------
<CAPTION>
<S> <C> <C> <C> <C> <C>
CLASS A-5 CLASS A-6 CLASS A-7 CLASS B-1 CLASS B-2
------------- -------------- ----------- ----------- ----------
Principal Distribution Amount $0.00 $0.00 $0.00 $0.00 $0.00
Interest Distribution Amount 179,205.54 180,266.67 135,791.50 100,806.56 60,947.96
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00 0.00
------------- -------------- ----------- ----------- ----------
Total Distribution $179,205.54 $180,266.67 $135,791.50 $100,806.56 $60,947.96
------------- -------------- ----------- ----------- ----------
------------- -------------- ----------- ----------- ----------
III. SCHEDULED MONTHLY MORTGAGE PAYMENTS (P&I): $2,462,877.88
Gross Int.... 2,068,314.20
Principal.... 394,563.68
IV. SERVICING FEE: $194,756.52
<CAPTION>
V. DELINQUENCY INFORMATION:
Days Delinquent Number Actual Balance
--------------- ------------- ----------------
<S> <C> <C> <C>
31 - 59 113 $2,966,996.02
60 - 89 27 701,037.64
90 or more 41 993,164.57
--------------- ------------- ----------------
Total Delinquent 181 $4,661,198.23
------------- ----------------
------------- ----------------
</TABLE>
<PAGE>
BankAmerica Manufactured Housing Contract Trust
Senior/ Subordinate Pass-Through Certificates
Series 1996-1, Investor Number 19962001
<TABLE>
<CAPTION>
MONTHLY SERVICING SUMMARY
VI. REPOSSESSION INFORMATION: Number Actual Balance
-------------- --------------
<S> <C> <C> <C>
BOP Repossessions 50 $1,532,944.29
Plus Repossessions this Month 32 815,951.05
Less Liquidations 25 $662,281.10
-------------- --------------
EOP Repossessions 57 $1,686,614.24
-------------- --------------
-------------- --------------
VII. REPURCHASES:
Number Actual Balance
-------------- --------------
Contracts 0 $0.00
Repurchased
or Replaced
Eligible Substitute Contracts 0 $0.00
-------------- --------------
Difference Paid by Servicer 0 $0.00
-------------- --------------
-------------- --------------
VIII. RESERVE ACCOUNT ACTIVITY
Reserve Fund Beginning Balance $0.00
Reserve Fund Draw Amount $0.00
Reserve Fund Deposit Amount $0.00
IX. MONTHLY ADVANCE
Monthly Advance Amount $0.00
Outstanding Amount Advanced $0.00
X. DELINQUENCY
RATIOS
Average 30-Day Delinquency Ratio 1.33%
Average 60-Day Delinquency Ratio 0.79%
Cumulative Realized Loss Ratio 0.65%
Current Realized Loss Ratio 0.55%
</TABLE>
<PAGE>
BankAmerica Manufactured Housing Contract Trust
Senior/ Subordinate Pass-Through Certificates
Series 1996-1, Investor Number 19962001
<TABLE>
<CAPTION>
MONTHLY SERVICING SUMMARY
<S> <C> <C>
XI. RESIDUAL INTEREST DISTRIBUTION AMOUNT $63,029.22
XII. LIQUIDATION LOSSES:
Previous Period Aggregate Net Liquidation
Losses: $1,253,218.02
Current Period Aggregate Net Liquidation
Losses: $1,604,249.06
Current Period Liquidation Losses: $351,031.04
</TABLE>
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