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Previous: CHEVY CHASE HOME LOAN TRUST 1996-1, 8-K, 1996-12-31 |
Next: TMS SBA LOAN ADJ RATE CERT SER 1996-1 CLASS A & B, 8-K, 1996-12-31 |
<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 report) December 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 5 Other Events
------------
Attached herein as Annex A is a copy of the Monthly Statement sent to Class
A Certificate holders with respect to the December 16, 1996 Remittance Date.
Item 7 Financial Statements and Exhibits
---------------------------------
The quarterly financial statement for the period ended September 30, 1996
for MBIA Inc. is incorporated 'by reference to the Form 10Q filed by MBIA Inc.
with the Securities and Exchange Commission on November 14, 1996.
<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
Dated: December 31, 1996
<PAGE>
Schedule A
List of Originators
-------------------
1996-A
------
The Money Store/Minnesota Inc.
The Money Store/D.C. Inc.
The Money Store/ Kentucky Inc.
The Money Store Home Equity Corp.
TMS Mortgage Inc.
<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 DECEMBER 11, 1996 DETERMINATION DATE.
<TABLE>
<CAPTION>
POOL I POOL II POOL III POOL IV
<S> <C> <C> <C> <C>
1. AGGREGATE AMOUNT RECEIVED (5.03b) $11,596,125.80 $4,402,670.60 $1,480,451.79 $146,356.97
ADJ: RECALCULATION 0.00 0.00 0.00 0.00
---------------------------------------------------------------------
11,596,125.80 4,402,670.60 1,480,451.79 146,356.97
LESS: SERVICE FEE (7.03 & 5.04) 82,105.06 21,888.44 10,998.51 2,993.80
CONTINGENCY FEE (7.03 & 5.04) 82,105.06 21,888.44 10,998.51 2,993.80
37,910.85 21,220.39 1,787.07 0.00
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00 0.00
---------------------------------------------------------------------
202,120.97 64,997.27 23,784.09 5,987.60
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 0.00 0.00 0.00 0.00
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 0.00 0.00 0.00
LESS: EXCESS SPREAD (1-19) 1,161,292.41 353,945.83 238,861.87 41,787.51
SUBORDINATION REDUCTION AMOUNT (1-56) 0.00 0.00 0.00 0.00
---------------------------------------------------------------------
1,161,292.41 353,945.83 238,861.87 41,787.51
---------------- ----------------- -------------- --------------
AVAILABLE REMITTANCE AMOUNT 10,232,712.42 3,983,727.50 1,217,805.83 98,590.86
================ ================= ============== ==============
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 52,470,947.27
(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-2 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 106,951,785.30
(J) CLASS A-10 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 24,242,315.49
(F) CLASS A-11 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 18,520,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(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 14,523,732.00
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS A-1 9,151,447.10
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: 9,151,447.10
CLASS A-9 3,737,923.30
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT: 3,737,923.30
CLASS A-10 1,152,436.16
CLASS A-11 0.00
CLASS A-12 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT: 1,152,436.16
CLASS A-13 45,229.23
TOTAL POOL IV PRINCIPAL DISTRIBUTION AMOUNT: 45,229.23
4. TOTAL AMOUNT OF POOL I,II,III & IV
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 8,259,685.77
POOL II 2,864,143.51
POOL III 3,702,663.11
POOL IV 1,262,482.14
(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 136 6,849,696.56
POOL II 39 3,254,716.94
POOL III 48 620,482.84
POOL IV 0 0.00
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 747,050.79
POOL II 186,396.11
POOL III 68,276.09
POOL IV 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 471,635.64
POOL II 35,953.76
POOL III 227,490.73
POOL IV 6,564.71
9. AMOUNT OF INTEREST RECEIVED
POOL I 3,489,831.96
POOL II 904,383.40
POOL III 557,841.21
POOL IV 139,811.26
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
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 0.00
POOL III 0.00
POOL IV 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 2,019.78
POOL II 78.13
POOL III 0.01
POOL IV 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 1,431.26
POOL II 2,504.56
POOL III 0.00
POOL IV 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 271,974.41
(B) PRINCIPAL DISTRIBUTION AMOUNT 9,151,447.10
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 9,423,421.51
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
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
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-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 2,241,070.44
(B) PRINCIPAL DISTRIBUTION AMOUNT 9,151,447.10
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 11,392,517.54
CLASS A-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 528,178.42
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,737,923.30
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-9 REMITTANCE AMOUNT 4,266,101.72
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 528,178.42
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,737,923.30
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 4,266,101.72
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 128,686.29
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,152,436.16
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 1,281,122.45
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-12 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 55,750.83
(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
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
POOL III REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 289,692.46
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,152,436.16
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 1,442,128.62
CLASS A-13 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 89,684.05
(B) PRINCIPAL DISTRIBUTION AMOUNT 45,229.23
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-13 REMITTANCE AMOUNT 134,913.28
POOL IV REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 89,684.05
(B) PRINCIPAL DISTRIBUTION AMOUNT 45,229.23
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL IV REMITTANCE AMOUNT 134,913.28
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 43,319,500.17
(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
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 35,888,000.00
(F) CLASS A-6 PRINCIPAL BALANCE AFTER
DISTRIBUTION 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
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(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 103,213,862.00
(J) CLASS A-10 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 23,089,879.33
(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 14,478,502.77
(O) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 389,496,500.17
(P) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 103,213,862.00
(Q) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 50,589,879.33
(R) TOTAL POOL IV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 14,478,502.77
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II, III AND IV) 100.00%
(B) EXCESS SPREAD (POOL I) 1,161,292.41
EXCESS SPREAD (POOL II) 353,945.83
EXCESS SPREAD (POOL III) 238,861.87
EXCESS SPREAD (POOL IV) 41,787.51
TOTAL EXCESS SPREAD (POOL I, II, III and IV) 1,795,887.62
(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
</TABLE>
<PAGE>
<TABLE>
<S> <C>
17. CUMULATIVE REALIZED LOSSES
POOL I 45,523.85
POOL II 2,504.56
POOL III 0.00
POOL IV 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 266.383
POOL II 349.500
POOL III 185.175
POOL IV 335.312
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.660%
POOL II 10.313%
POOL III 12.696%
POOL IV 11.691%
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 82,105.06
POOL II 21,888.44
POOL III 10,998.51
POOL IV 2,993.80
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 82,105.06
POOL II 21,888.44
POOL III 10,998.51
POOL IV 2,993.80
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 16,610.33
POOL II 4,456.32
POOL III 2,155.93
POOL IV 605.16
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT - MBIA
POOL I 33,221.00
POOL II 10,695.00
POOL III 12,936.00
POOL IV 6,657.00
(E) FHA PREMIUM ACCOUNT 5,726.33
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) 164,210.12 43,776.88
POOL III 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) 21,997.02 5,987.60
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
O
21. CLASS A-1 POOL FACTOR (1-5):
CURRENT CLASS A-1 PRINCIPAL BALANCE 43,319,500.17 0.41724377
ORIGINAL CLASS A-1 PRINCIPAL BALANCE 103,823,000.00
CLASS A-2 POOL FACTOR (1-5):
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 (1-5):
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 (1-5):
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 (1-5):
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 (1-5):
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 (1-5):
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 (1-5):
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 CLASS A-1 PRINCIPAL BALANCE 389,496,500.17 0.86554778
ORIGINAL CLASS A-1 PRINCIPAL BALANCE 450,000,000.00
CLASS A-9 (POOL II) FACTOR:
CURRENT CLASS A-9 (POOL II)PRINCIPAL BALANCE 103,213,862.00 0.82571090
ORIGINAL CLASS A-9 (POOL II) PRINCIPAL BALANCE 125,000,000.00
CLASS A-10 POOL FACTOR (1-5):
CURRENT CLASS A-10 PRINCIPAL BALANCE 23,089,879.33 0.71045783
ORIGINAL CLASS A-10 PRINCIPAL BALANCE 32,500,000.00
CLASS A-11 POOL FACTOR (1-5):
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 (1-5):
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 POOL III PRINCIPAL BALANCE 50,589,879.33 0.84316466
ORIGINAL POOL III PRINCIPAL BALANCE 60,000,000.00
CLASS A-14 (POOL IV) FACTOR (1-5):
CURRENT CLASS A-14 PRINCIPAL BALANCE 14,478,502.77 0.96523352
ORIGINAL CLASS A-14 PRINCIPAL BALANCE 15,000,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.660%
POOL II 10.313%
POOL III 12.696%
POOL IV 11.691%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 10.010%
POOL II 9.663%
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 6.908%
CLASS A-9 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.735%
CLASS A-10, CLASS A-11 AND CLASS A-12
ADJUSTED MORTGAGE LOAN REMITTANCE RATE 7.076%
CLASS A-14 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.010%
----------------------------------------------
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 09/30/96 10/31/96 11/30/96
----------------------------------------------
POOL I 10.677% 10.665% 10.660%
POOL II 10.188% 10.283% 10.313%
POOL III 12.694% 12.692% 12.696%
POOL IV 11.891% 11.691% 11.691%
23. CLASS A-9 REMITTANCE 5.73500%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-9 N/A
24. LIBOR RATE 5.73500%
25. POOL II NET FUNDS CAP (RATE) 9.593%
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 5,726.33
(B) AMOUNT REIMBURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PURSUANT TO 6.06(b)(i) 8,666.45
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 66,716.00
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 100,813.14
36. OTHER INFORMATION
(A) SPREAD ACCOUNT BALANCES
POOL I 0.00
POOL II 0.00
POOL III 1,855,716.89
POOL IV 931,576.55
(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 -NOVEMBER 30, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C>
1996-A-I $398,839,250.05 7172 1 TO 29 DAYS 84,513,856.15 1579 21.19%
30 TO 59 DAYS 10,163,463.34 196 2.55%
60 TO 89 DAYS 4,587,124.21 95 1.15%
90 AND OVER 6,820,262.60 129 1.71%
FORECLOSURE 8,734,151.25 136 2.19%
REO PROPERTY 71,200.00 1 0.02%
TOTALS $114,890,057.55 2.136 28.81%
============== ===== =====
</TABLE>
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -NOVEMBER 30, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C>
1996-A-II $106,338,862.00 1193 1 TO 29 DAYS 23,463,855.53 273 22.07%
30 TO 59 DAYS 4,243,110.29 49 3.99%
60 TO 89 DAYS 2,260,312.42 21 2.13%
90 AND OVER 2,428,669.55 27 2.28%
FORECLOSURE 1,840,399.83 20 1.73%
REO PROPERTY 0.00 0 0.00%
TOTALS $34,236,347.62 390 32.20%
============== === =====
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT O (POOL III)
REMIC DELINQUENCIES AS OF -NOVEMBER 30, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-III $52,673,012.05 3624 1 TO 29 DAYS 11,309,931.84 751 21.47%
30 TO 59 DAYS 1,670,446.81 121 3.17%
60 TO 89 DAYS 847,513.57 56 1.61%
90 AND OVER 1,579,276.77 107 3.00%
CLAIMS PENDING 100,813.14 8 0.19%
FORECLOSURE 374,202.77 24 0.71%
REO PROPERTY 17,490.00 0 0.03%
TOTALS $15,899,674.90 1,067 30.19%
============================================
</TABLE>
<TABLE>
<CAPTION>
EXHIBIT O (POOL IV)
REMIC DELINQUENCIES AS OF -NOVEMBER 30, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-IV 14,848,082.86 74 1 TO 29 DAYS 2,073,454.50 7 13.96%
30 TO 59 DAYS 302,198.47 2 2.04%
60 TO 89 DAYS 400,000.00 1 2.69%
90 AND OVER 94,097.28 1 0.63%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $2,869,750.25 11 19.33%
============================================
</TABLE>
<PAGE>
1996-A
The following additional information, presented in dollars, pursuant to Section
8.10 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-1 CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 505.39 998.75 1,000.00 1,000.00 1,000.00
(vi) 65.97 0.00 0.00 0.00 0.00
(vii) 7.20 0.00 0.00 0.00 0.00
(viii) 4.54 0.00 0.00 0.00 0.00
(xiii) (a) 2.62 5.27 5.36 5.44 5.71
(b) 88.14 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) 417.24 998.75 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
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 1,000.00 855.61
(vi) 0.00 0 0.00 26.04
(vii) 0.00 0 0.00 1.49
(viii) 0.00 0 0.00 0.29
(xiii) (a) 5.80 6.13 6.38 4.23
(b) 0.00 0 0.00 29.90
(c) 0.00 0 0.00 0.00
(d) 0.00 0 0.00 0.00
(xv) 1,000.00 506.05 1,000.00 825.71
(xxxvi) 0.00 0 0 0.00
</TABLE>
<TABLE>
<CAPTION>
POOL III POOL IV
SUBCLAUSE CLASS A-10 CLASS A-11 CLASS A-12 CLASS A-13
- ---------------------------------------------------------- ------------
<S> <C> <C> <C> <C>
(ii) 745.92 1,000.00 1,000.00 968.25
(vi) 19.09 0.00 0.00 0.00
(vii) 2.10 0.00 0.00 0.00
(viii) 7.00 0.00 0.00 0.44
(xiii) (a) 3.96 5.68 6.21 5.98
(b) 35.46 0.00 0.00 3.02
(c) 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00
(xv) 710.46 1,000.00 1,000.00 965.23
(xxxvi) 0.00 0.00 0.00 0.00
</TABLE>
<TABLE>
<S> <C> <C> <C>
103,823.00 36,072.00 66,142.00 81,741.00
35,888.00 31,902.00 52,540.00 41,937.00
125,000.00 32,500.00 18,520.00 8,980.00
15,000.00
</TABLE>
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