<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) September 16, 1996
------------------
The Money Store Inc. (as Representative under
a Pooling and Servicing Agreement dated as of
February 29, 1996 providing for the issuance of
TMS Asset Backed Certificates, Series 1996-A) and
each of the Originators listed on Schedule A
attached hereto.
The Money Store, Inc.
-------------------------------
(Exact name of registrant as specified in its charter)
New Jersey 33-84492 Applied For
---------- -------- -----------
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
----------------------------------------------
(Address of principal executive officer)
Registrant's Telephone Number,
including area code: (908) 686-2000
--------------
n/a
-------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 7 Financial Statements and Exhibits
---------------------------------
Attached herein as Annex A is a copy of the Monthly Statement sent to
Class A Certificate holders with respect to the September 16, 1996 Remittance
Date.
<PAGE>
SIGNATURES
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.
THE MONEY STORE INC.
By: \S\ Harry Puglisi
--------------------------
Name: Harry Puglisi
Title: Treasurer
Date: September 16, 1996
<PAGE>
SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.10 OF THE POOLING AND SERVICING
AGREEMENT DATED AS OF FEBRUARY 29, 1996, THE MONEY STORE INC.
REPORTS THE FOLLOWING INFORMATION PERTAINING TO SERIES 1996-A
FOR THE SEPTEMBER 11, 1996 DETERMINATION DATE.
<TABLE>
<CAPTION>
POOL I POOL II POOL III POOL IV
<S> <C> <C> <C> <C>
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $10,315,437.52 $2,746,545.32 $1,468,409.12 $129,730.38
ADJ: RECALCULATION 0.00 0.00 0.00 0.00
---------------------------------------------------------
10,315,437.52 2,746,545.32 1,468,409.12 129,730.38
LESS: SERVICE FEE (7.03 & 5.04) 85,710.57 22,176.52 11,453.94 2,676.89
CONTINGENCY FEE (7.03 & 5.04) 85,710.57 22,176.52 11,453.94 2,676.89
OTHER SERVICER FEES (Late Charges / Escrow) 35,057.37 9,379.37 1,777.28 0.00
(7.03 & 5.04)
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00 0.00
---------------------------------------------------------
206,478.51 53,732.41 24,685.16 5,353.78
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 0.00 20,031.86 0.00 14,404.84
PRE-FUNDING ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00 0.00
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00 0.00
---------------------------------------------------------
0.00 20,031.86 0.00 14,404.84
LESS: EXCESS SPREAD (I-19) 1,224,861.14 291,980.91 248,055.72 41,661.66
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00 0.00
---------------------------------------------------------
1,224,861.14 291,980.91 248,055.72 41,661.66
------------- ------------- ------------- -------------
AVAILABLE REMITTANCE AMOUNT 8,884,097.87 2,420,863.85 1,195,668.24 97,119.78
============= ============= ============= =============
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 77,153,994.50
(B) CLASS A-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 36,027,000.00
(C) CLASS A-3 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 66,142,000.00
(D) CLASS A-4 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 81,741,000.00
(E) CLASS A-5 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 35,888,000.00
(F) CLASS A-6 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 31,902,000.00
(G) CLASS A-7 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 52,540,000.00
(H) CLASS A-8 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 41,937,000.00
(I) CLASS A-9 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 116,015,043.06
(J) CLASS A-10 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 27,715,801.60
(F) CLASS A-11 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 18,520,000.00
</TABLE>
<PAGE>
(G) CLASS A-12 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 8,980,000.00
(H) CLASS A-13 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 14,657,905.20
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS A-1 7,687,031.31
CLASS A-2 0.00
CLASS A-3 0.00
CLASS A-4 0.00
CLASS A-5 0.00
CLASS A-6 0.00
CLASS A-7 0.00
CLASS A-8 0.00
TOTAL POOL I PRINCIPAL DISTRIBUTION AMOUNT: 7,687,031.31
CLASS A-9 2,100,155.42
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT: 2,100,155.42
CLASS A-10 1,113,775.81
CLASS A-11 0.00
CLASS A-12 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT: 1,113,775.81
CLASS A-13 40,940.13
TOTAL POOL IV PRINCIPAL DISTRIBUTION AMOUNT: 40,940.13
4.TOTAL AMOUNT OF POOL I, II, III & IV
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 5,119,723.03
POOL II 1,985,988.57
POOL III 2,994,415.26
POOL IV 1,131,352.97
(B) SPECIFIED SUBORDINATED AMOUNT
POOL I 10,350,000.00
POOL II 3,125,000.00
POOL III 5,400,000.00
POOL IV 1,800,000.00
6. PRINCIPAL PREPAYMENT RECEIVED DURING
THE DUE PERIOD # ACCOUNTS DOLLARS
POOL I 165 6,094,514.74
POOL II 28 1,708,645.04
POOL III 65 706,685.78
POOL IV 0 0.00
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 10,065.82
POOL II 10,191.61
POOL III 23,418.75
POOL IV 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 513,362.34
POOL II 133,690.90
POOL III 150,478.07
POOL IV 4,632.25
9. AMOUNT OF INTEREST RECEIVED
POOL I 3,662,437.25
POOL II 884,638.40
POOL III 581,643.92
POOL IV 125,098.13
<PAGE>
10. (A) AMOUNT OF MONTHLY ADVANCES INCLUDING COMPENSATING
INTEREST TO BE MADE ON THE DETERMINATION DATE
TO BE DEPOSITED IN THE CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.01 (a) (ii)
POOL I 0.00
POOL II 20,031.86
POOL III 0.00
POOL IV 14,404.84
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 1,832.55
POOL II 6.22
POOL III 89.40
POOL IV 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 8,910.45
POOL II 0.00
POOL III 0.00
POOL IV 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 399,914.87
(B) PRINCIPAL DISTRIBUTION AMOUNT 7,687,031.31
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 8,086,946.18
CLASS A-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 190,042.43
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-2 REMITTANCE AMOUNT 190,042.43
CLASS A-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 354,410.88
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-3 REMITTANCE AMOUNT 354,410.88
CLASS A-4 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 444,807.28
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-4 REMITTANCE AMOUNT 444,807.28
CLASS A-5 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 204,860.67
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-5 REMITTANCE AMOUNT 204,860.67
CLASS A-6 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 185,031.60
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-6 REMITTANCE AMOUNT 185,031.60
<PAGE>
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-7 REMITTANCE AMOUNT 322,245.33
CLASS A-8 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 267,697.85
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-8 REMITTANCE AMOUNT
267,697.85
POOL I REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 2,369,010.90
(B) PRINCIPAL DISTRIBUTION AMOUNT 7,687,031.31
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 10,056,042.21
CLASS A-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 596,253.38
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,100,155.42
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-9 REMITTANCE AMOUNT 2,696,408.80
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 596,253.38
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,100,155.42
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 2,696,408.80
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 147,124.71
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,113,775.81
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 1,260,900.52
CLASS A-11 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 105,255.33
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-11 REMITTANCE AMOUNT 105,255.33
CLASS A-7 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 322,245.33
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-12 REMITTANCE AMOUNT 55,750.83
<PAGE>
POOL III REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 308,130.88
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,113,775.81
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 1,421,906.69
CLASS A-13 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 90,512.56
(B) PRINCIPAL DISTRIBUTION AMOUNT 40,940.13
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-13 REMITTANCE AMOUNT 131,452.69
POOL IV REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 90,512.56
(B) PRINCIPAL DISTRIBUTION AMOUNT 40,940.13
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL IV REMITTANCE AMOUNT 131,452.69
14. (A) REIMBURSABLE AMOUNTS 0.00
(B) CLASS R REMITTANCE AMOUNT PAYABLE PURSUANT
TO SECTION 6.08(d) (iii) AND ( iv)
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
15. (A) CLASS A-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 69,466,963.19
(B) CLASS A-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 36,027,000.00
(C) CLASS A-3 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 66,142,000.00
(D) CLASS A-4 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 81,741,000.00
(E) CLASS A-5 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 35,888,000.00
(F) CLASS A-6 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 31,902,000.00
(G) CLASS A-7 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 52,540,000.00
<PAGE>
(H) CLASS A-8 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 41,937,000.00
(I) CLASS A-9 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 113,914,887.64
(J) CLASS A-10 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 26,602,025.79
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 18,520,000.00
(L) CLASS A-12 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 8,980,000.00
(M) CLASS A-13 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 14,616,965.07
(O) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 415,643,963.19
(P) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 113,914,887.64
(Q) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 54,102,025.79
(R) TOTAL POOL IV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 14,616,965.07
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II,
III AND IV) 100.00%
(B) EXCESS SPREAD (POOL I) 1,224,861.14
EXCESS SPREAD (POOL II) 291,980.91
EXCESS SPREAD (POOL III) 248,055.72
EXCESS SPREAD (POOL IV) 41,661.66
TOTAL EXCESS SPREAD (POOL I, II, III and IV) 1,806,559.43
(C) REMAINDER EXCESS SPREAD AMOUNT POOL I 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL II 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL III 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL IV 0.00
TOTAL REMAINDER EXCESS SPREAD AMOUNT POOL I, II,
III and IV 0.00
<PAGE>
17. CUMULATIVE REALIZED LOSSES
POOL I 8,910.45
POOL II 0.00
POOL III 0.00
POOL IV 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 268.826
POOL II 352.639
POOL III 187.594
POOL IV 338.267
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.686%
POOL II 9.939%
POOL III 12.696%
POOL IV 11.691%
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 85,710.57
POOL II 22,176.52
POOL III 11,453.94
POOL IV 2,676.89
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 85,710.57
POOL II 22,176.52
POOL III 11,453.94
POOL IV 2,676.89
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 17,638.79
POOL II 4,833.96
POOL III 2,300.66
POOL IV 610.75
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT - MBIA
POOL I 35,278.00
POOL II 11,602.00
POOL III 13,804.00
POOL IV 6,718.00
(E) FHA PREMIUM ACCOUNT 5,712.61
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE
SERVICERS PURSUANT TO:
POOL I POOL II
(A) SECTION 5.04 (b) 0.00 0.00
(B) SECTION 5.04 (c) 0.00 0.00
(C) SECTION 5.04 (d)(ii) 0.00 0.00
(D) SECTION 5.04 (e) 0.00 0.00
(E) SECTION 5.04 (f)(i) 171,421.14 44,353.04
POOL II POOL IV
(A) SECTION 5.04 (b) 0.00 0.00
(B) SECTION 5.04 (c) 0.00 0.00
(C) SECTION 5.04 (d)(ii) 0.00 0.00
(D) SECTION 5.04 (e) 0.00 0.00
(E) SECTION 5.04 (f)(i) 22,907.88 5,353.78
<PAGE>
21. CLASS A-1 POOL FACTOR (I-5):
CURRENT CLASS A-1 PRINCIPAL BALANCE 69,466,963.19 0.66909031
ORIGINAL CLASS A-1 PRINCIPAL BALANCE 103,823,000.00
CLASS A-2 POOL FACTOR (I-5):
CURRENT CLASS A-2 PRINCIPAL BALANCE 36,027,000.00 1.00000000
ORIGINAL CLASS A-2 PRINCIPAL BALANCE 36,027,000.00
CLASS A-3 POOL FACTOR (I-5):
CURRENT CLASS A-3 PRINCIPAL BALANCE 66,142,000.00 1.00000000
ORIGINAL CLASS A-3 PRINCIPAL BALANCE 66,142,000.00
CLASS A-4 POOL FACTOR (I-5):
CURRENT CLASS A-4 PRINCIPAL BALANCE 81,741,000.00 1.00000000
ORIGINAL CLASS A-4 PRINCIPAL BALANCE 81,741,000.00
CLASS A-5 POOL FACTOR (I-5):
CURRENT CLASS A-5 PRINCIPAL BALANCE 35,888,000.00 1.00000000
ORIGINAL CLASS A-5 PRINCIPAL BALANCE 35,888,000.00
CLASS A-6 POOL FACTOR (I-5):
CURRENT CLASS A-6 PRINCIPAL BALANCE 31,902,000.00 1.00000000
ORIGINAL CLASS A-6 PRINCIPAL BALANCE 31,902,000.00
CLASS A-7 POOL FACTOR (I-5):
CURRENT CLASS A-7 PRINCIPAL BALANCE 52,540,000.00 1.00000000
ORIGINAL CLASS A-7 PRINCIPAL BALANCE 52,540,000.00
CLASS A-8 POOL FACTOR (I-5):
CURRENT CLASS A-8 PRINCIPAL BALANCE 41,937,000.00 1.00000000
ORIGINAL CLASS A-8 PRINCIPAL BALANCE 41,937,000.00
POOL I FACTOR:
CURRENT POOL I PRINCIPAL BALANCE 415,643,963.19 0.92365325
ORIGINAL POOL I PRINCIPAL BALANCE 450,000,000.00
CLASS A-9 (POOL II) FACTOR:
CURRENT CLASS A-9 (POOL II) PRINCIPAL BALANCE 113,914,887.64 0.91131910
ORIGINAL CLASS A-9 (POOL II) PRINCIPAL BALANCE 125,000,000.00
CLASS A-10 POOL FACTOR (I-5):
CURRENT CLASS A-10 PRINCIPAL BALANCE 26,602,025.79 0.81852387
ORIGINAL CLASS A-10 PRINCIPAL BALANCE 32,500,000.00
CLASS A-11 POOL FACTOR (I-5):
CURRENT CLASS A-11 PRINCIPAL BALANCE 18,520,000.00 1.00000000
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 18,520,000.00
CLASS A-12 POOL FACTOR (I-5):
CURRENT CLASS A-12 PRINCIPAL BALANCE 8,980,000.00 1.00000000
ORIGINAL CLASS A-12 PRINCIPAL BALANCE 8,980,000.00
POOL III FACTOR:
CURRENT POOLI III PRINCIPAL BALANCE 54,102,025.79 0.90170043
ORIGINAL POOL III PRINCIPAL BALANCE 60,000,000.00
CLASS A-14 (POOL IV) FACTOR (I-5):
CURRENT CLASS A-14 PRINCIPAL BALANCE 14,616,965.07 0.97446434
ORIGINAL CLASS A-14 PRINCIPAL BALANCE 15,000,000.00
<PAGE>
<TABLE>
<S> <C>
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.686%
POOL II 9.939%
POOL III 12.696%
POOL IV 11.691%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 10.036%
POOL II 9.289%
POOL III 10.846%
POOL IV 10.591%
(C) WEIGHTED AVERAGE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-5,
CLASS A-6, CLASS A-7 AND CLASS A-8 ADJUST MORTGAGE LOAN REMITTANCE RATE 6.875%
CLASS A-9, ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.782%
CLASS A-10, CLASS A-11 AND CLASS A-12
ADJUSTED MORTGAGE LOAN REMITTANCE RATE 7.053%
CLASS A-14, ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.010%
</TABLE>
<TABLE>
<CAPTION>
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 06/30/96 07/31/96 08/31/96
-------------- -------------- --------------
<S> <C> <C> <C>
POOL I 10.700% 10.694% 10.686%
POOL II 9.399% 9.651% 9.939%
POOL III 12.696% 12.697% 12.696%
POOL IV 11.693% 11.691% 11.691%
</TABLE>
<TABLE>
<S> <C>
23. CLASS A-9 REMITTANCE 5.78188%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-9 N/A
24. LIBOR RATE 5.42188%
25. POOL II NET FUNDS CAP (RATE) 8.961%
CLASS A-9 NET FUNDS CAP 0.00
26. CLASS A-9 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
MAXIMUM POOL II RATE FOR THE DUE PERIOD 0.00
27. (A) AMOUNT OF DISTRIBUTION ALLOCABLE TO LIBOR
INTEREST CARRYOVER 0.00
(B) LIBOR INTEREST CARRYOVER BALANCE 0.00
28. (A) AMOUNT TO BE DEPOSITED INTO THE FHA PREMIUM ACCOUNT
FOR THE DUE PERIOD 5,712.61
(B) AMOUNT REIMBURURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PUSUANT TO 6.06(b)(i) 5,712.61
29. AMOUNT OF FHA PAYMENTS AND RELATED PAYMENTS
RECEIVED DURING THE MONTH 0.00
30. THE RESERVE AMOUNT FOR THE DUE PERIOD 6,000,000.00
31. CLAIMS FILED DURING THE DUE PERIOD 12,890.00
32. CLAIMS PAID DURING THE PERIOD 0.00
33. CLAIMS DENIED BY FHA DURING THE DUE PERIOD 0.00
34. CLAIMS PENDING PAYMENT BY FHA DURING THE DUE PERIOD 0.00
35. OTHER INFORMATION
(A) SPREAD ACCOUNT BALANCES
POOL I 0.00
POOL II 0.00
POOL III 1,834,087.18
POOL IV 920,718.37
(B) AMOUNT TO BE DEPOSITED INTO POOL III
SPREAD ACCOUNT DUE TO TRIGGER ACTIVATION 0
</TABLE>
<PAGE>
EXHIBIT O ( POOL I )
REMIC DELINQUENCIES AS OF -AUGUST 31, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-I $421,832,774.63 7594 1 TO 29 DAYS 80,391,280.66 1483 19.06%
30 TO 59 DAYS 11,122,088.78 219 2.64%
60 TO 89 DAYS 4,484,285.74 86 1.06%
90 AND OVER 4,012,883.73 68 0.95%
FORECLOSURE 5,134,250.58 73 1.22%
REO PROPERTY 0.00 0 0.00%
TOTALS $105,144,789.49 1,929 24.93%
========================================
</TABLE>
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -AUGUST 31, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-II $116,148,504.08 1292 1 TO 29 DAYS 26,127,871.65 279 22.50%
30 TO 59 DAYS 3,034,336.78 39 2.61%
60 TO 89 DAYS 671,553.92 9 0.58%
90 AND OVER 1,139,578.47 10 0.98%
FORECLOSURE 730,020.91 10 0.63%
REO PROPERTY 0.00 0 0.00%
TOTALS $31,703,361.73 347 27.30%
========================================
</TABLE>
<PAGE>
EXHIBIT O ( POOL III )
REMIC DELINQUENCIES AS OF -AUGUST 31, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-III $55,495,547.08 3797 1 TO 29 DAYS 11,266,610.32 733 20.30%
30 TO 59 DAYS 1,514,186.69 118 2.73%
60 TO 89 DAYS 861,066.03 54 1.55%
90 AND OVER 964,172.99 66 1.74%
CLAIMS PENDING 0.00 0 0.00%
FORECLOSURE 258,406.62 16 0.47%
REO PROPERTY 0.00 0 0.00%
TOTALS $14,864,442.65 987 26.78%
====================================
</TABLE>
EXHIBIT O ( POOL IV )
REMIC DELINQUENCIES AS OF -AUGUST 31, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-IV 14,863,907.55 74 1 TO 29 DAYS 1,892,093.55 7 12.73%
30 TO 59 DAYS 494,097.28 2 3.32%
60 TO 89 DAYS 0.00 0 0.00%
90 AND OVER 0.00 0 0.00%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $2,386,190.83 9 16.05%
====================================
</TABLE>
<PAGE>
1996-A
The following additional information, presented in dollars, pursuant to
Section 6.10 subclauses (ii), (vi), (vii), (viii), (xiii), (xv), (xxxvi)
is provided for each Class per $1,000 original dollar amount as of the
Cut-Off Date.
<TABLE>
<CAPTION>
POOL I
SUBCLAUSE CLASS A- CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
- ----------- ----------- ----------- ----------- ---------------- --------------
<S> <C> <C> <C> <C> <C>
(ii) 743.13 998.75 1,000.00 1,000.00 1,000.00
(vi) 58.70 0.00 0.00 0.00 0.00
(vii) 0.10 0.00 0.00 0.00 0.00
(viii) 4.94 0.00 0.00 0.00 0.00
(xiii) (a) 3.85 5.27 5.36 5.44 5.71
(b) 74.04 0.00 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00
(xv) 669.09 998.75 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00
POOL II
SUBCLAUSE CLASS A-6 CLASS A-7 CLASS A-8 CLASS A-9
- ----------- ----------- ----------- ----------- ------------
<S> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 1,000.00 928.12
(vi) 0.00 0 0.00 13.67
(vii) 0.00 0 0.00 0.08
(viii) 0.00 0 0.00 1.07
(xiii) (a) 5.80 6.13 6.38 4.77
(b) 0.00 0 0.00 16.80
(c) 0.00 0 0.00 0.00
(d) 0.00 0 0.00 0.00
(xv) 1,000.00 506.05 1,000.00 911.32
(xxxvi) 0.00 0 0 0.00
POOL III POOL IV
SUBCLAUSE CLASS A-10 CLASS A-11 CLASS A-12 CLASS A-13
- ----------- ----------- ----------- ----------- ----------------
<S> <C> <C> <C> <C>
(ii) 852.79 1,000.00 1,000.00 977.19
(vi) 21.74 0.00 0.00 0.00
(vii) 0.72 0.00 0.00 0.00
(viii) 4.63 0.00 0.00 0.31
(xiii) (a) 4.53 5.68 6.21 6.03
(b) 34.27 0.00 0.00 2.73
(c) 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00
(xv) 818.52 1,000.00 1,000.00 974.46
(xxxvi) 0.00 0.00 0.00 0.00
</TABLE>
