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Previous: TIB FINANCIAL CORP, 8-A12G, 1997-04-02 |
Next: CLASSNOTES TRUST 1995-1 ASSET BACKED NOTES SER 1996-1, 8-K, 1997-04-02 |
<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 March 17, 1997
----------------
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 March 17, 1997
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>
Schedule A
List of Originators
1996-A
The Money Store/Minnesota Inc.
The Money Store/D.C. Inc.
The Money Store/ Kentucky In
The Money Store Home Equity
TMS Mortgage Inc.
<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: March 31, 1997
<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 MARCH 12, 1997 DETERMINATION DATE.
<TABLE>
<CAPTION>
POOL I POOL II POOL III POOL IV
<S> <C> <C> <C> <C>
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $11,312,603.46 $4,506,663.18 $1,131,322.30 $503,119.51
ADJ : RECALCULATION 0.00 0.00 0.00 0.00
----------------------------------------------------------
11,312,603.46 4,506,663.18 1,131,322.30 503,119.51
LESS: SERVICE FEE (7.03 & 5.04) 74,222.15 17,906.57 9,726.65 3,184.96
CONTINGENCY FEE (7.03 & 5.04) 74,222.15 17,906.57 9,726.65 3,184.96
OTHER SERVICER FEES (Late Charges / Escrow) (7.03 & 5.04 32,822.36 33,551.18 1,966.54 3,957.00
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00 0.00
181,266.66 69,364.32 21,419.84 10,326.92
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 92,272.82 49,242.28 24,871.21 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
----------------------------------------------------------
92,272.82 49,242.28 24,871.21 0.00
LESS: EXCESS SPREAD (I-19) 1,093,292.18 399,864.59 235,896.35 43,600.81
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00 0.00
----------------------------------------------------------
1,093,292.18 399,864.59 235,896.35 43,600.81
----------------------------------------------------------
AVAILABLE REMITTANCE AMOUNT 10,130,317.44 4,086,676.55 898,877.32 449,191.78
==========================================================
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 26,196,913.27
(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-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 94,274,414.07
(J) CLASS A-10 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 20,030,755.22
(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 13,891,119.68
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS A-1 8,127,087.24
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: 8,127,087.24
CLASS A-9 3,700,322.08
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT: 3,700,322.08
CLASS A-10 905,355.89
CLASS A-11 0.00
CLASS A-12 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT: 905,355.89
CLASS A-13 447,265.63
TOTAL POOL IV PRINCIPAL DISTRIBUTION AMOUNT: 447,265.63
4.TOTAL AMOUNT OF POOL I, II, III & IV
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 10,350,000.00
POOL II 3,125,000.00
POOL III 5,126,717.00
POOL IV 1,702,990.28
(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 147 7,403,313.44
POOL II 41 3,366,947.23
POOL III 35 392,337.36
POOL IV 2 338,297.28
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 205,328.41
POOL II 290,906.31
POOL III 42,148.97
POOL IV 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 518,445.39
POOL II 42,468.54
POOL III 149,729.42
POOL IV 11,958.63
9. AMOUNT OF INTEREST RECEIVED
POOL I 3,152,449.31
POOL II 772,789.92
POOL III 493,281.46
POOL IV 148,906.60
<PAGE>
<TABLE>
<S> <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 92,272.82
POOL II 49,242.28
POOL III 24,871.21
POOL IV 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 1,868.20
POOL II 102.64
POOL III 320.58
POOL IV 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 0.00
POOL II 0.00
POOL III 52,720.71
POOL IV 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 135,787.33
(B) PRINCIPAL DISTRIBUTION AMOUNT 8,127,087.24
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 8,262,874.57
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>
CLASS A-7REMITTANCE 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 2,104,883.37
(B) PRINCIPAL DISTRIBUTION AMOUNT 8,127,087.24
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 10,231,970.60
CLASS A-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 408,812.51
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,700,322.08
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-9 REMITTANCE AMOUNT 4,109,134.59
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 408,812.51
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,700,322.08
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 4,109,134.59
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 106,329.93
(B) PRINCIPAL DISTRIBUTION AMOUNT 905,355.89
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 1,011,685.82
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
<PAGE>
<TABLE>
<S> <C> <C>
POOL III REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 267,336.09
(B) PRINCIPAL DISTRIBUTION AMOUNT 905,355.89
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 1,172,691.98
CLASS A-13 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 85,777.66
(B) PRINCIPAL DISTRIBUTION AMOUNT 447,265.63
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-13 REMITTANCE AMOUNT 533,043.29
POOL IV REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 85,777.66
(B) PRINCIPAL DISTRIBUTION AMOUNT 447,265.63
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL IV REMITTANCE AMOUNT 533,043.29
14.(A) REIMBURSABLE AMOUNTS 0.00
(B) CLASS R REMITTANCE AMOUNT PAYABLE PURSUANT
TO SECTION 6.08(d) (iii) AND ( iv)
POOL I 841,055.98
POOL II 364,051.45
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 18,069,826.03
(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
</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 90,574,091.99
(J) CLASS A-10 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 19,125,399.33
(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 13,443,854.05
(O) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 3 64,246,826.03
(P) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 90,574,091.99
(Q) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 46,625,399.33
(R) TOTAL POOL IV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 13,443,854.05
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II, III AND IV) 100.00%
(B) EXCESS SPREAD (POOL I) 1,093,292.18
EXCESS SPREAD (POOL II) 399,864.59
EXCESS SPREAD (POOL III) 235,896.35
EXCESS SPREAD (POOL IV) 43,600.81
TOTAL EXCESS SPREAD (POOL I, II, III and IV) 1,772,653.93
(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 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
17. CUMULATIVE REALIZED LOSSES
POOL I 281,702.11
POOL II 106,360.90
POOL III 370,291.10
POOL IV 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 264.101
POOL II 346.536
POOL III 182.499
POOL IV 331.856
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.626%
POOL II 10.714%
POOL III 12.689%
POOL IV 11.691%
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 74,222.15
POOL II 17,906.57
POOL III 9,726.65
POOL IV 3,184.96
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 74,222.15
POOL II 17,906.57
POOL III 9,726.65
POOL IV 3,184.96
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 15,515.58
POOL II 3,928.10
POOL III 1,980.45
POOL IV 578.80
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 31,031.00
POOL II 9,427.00
POOL III 11,883.00
POOL IV 6,367.00
(E) FHA PREMIUM ACCOUNT 5,058.19
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) 148,444.30 35,813.14
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) 19,453.30 6,369.92
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
21. CLASS A-1 POOL FACTOR (I-5):
CURRENT CLASS A-1 PRINCIPAL BALANCE 18,069,826.03 0.17404454
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 364,246,826.03 0.80943739
ORIGINAL POOL I PRINCIPAL BALANCE 450,000,000.00
CLASS A-9 (POOL II) FACTOR:
CURRENT CLASS A-9 (POOL II) PRINCIPAL BALANCE 90,574,091.99 0.72459274
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 19,125,399.33 0.58847383
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 46,625,399.33 0.77708999
ORIGINAL POOL III PRINCIPAL BALANCE 60,000,000.00
CLASS A-14 (POOL IV) FACTOR (I-5):
CURRENT CLASS A-14 PRINCIPAL BALANCE 13,443,854.05 0.89625694
ORIGINAL CLASS A-14 PRINCIPAL BALANCE 15,000,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.626%
POOL II 10.714%
POOL III 12.689%
POOL IV 11.691%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 9.976%
POOL II 10.064%
POOL III 10.839%
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 6.946%
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 7.107%
CLASS A-14 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.010%
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 12/31/96 01/31/97 02/28/97
POOL I 10.649% 10.639% 10.626%
POOL II 10.383% 10.569% 10.714%
POOL III 12.696% 12.692% 12.689%
POOL IV 11.687% 11.687% 11.691%
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) 9.879%
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 5,058.19
(B) AMOUNT REIMBURURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PUSUANT TO 6.06(b)(i) 5,058.19
29. AMOUNT OF FHA PAYMENTS AND RELATED PAYMENTS
RECEIVED DURING THE MONTH 46,658.32
30. THE RESERVE AMOUNT FOR THE DUE PERIOD 5,968,893.01
31. CLAIMS FILED DURING THE DUE PERIOD 119,336.83
32. CLAIMS PAID DURING THE PERIOD 46,658.32
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 1,877,533.50
POOL IV 942,528.57
(B) AMOUNT TO BE DEPOSITED INTO POOL III
SPREAD ACCOUNT DUE TO TRIGGER ACTIVATION 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT O ( POOL I )
REMIC DELINQUENCIES AS OF -FEBRUARY 28, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-I $374,596,826.03 6734 1 TO 29 DAYS 75,079,558.63 1393 20.04%
30 TO 59 DAYS 11,899,319.34 208 3.18%
60 TO 89 DAYS 4,814,849.93 96 1.29%
90 AND OVER 8,402,224.35 163 2.24%
FORECLOSURE 11,664,560.82 190 3.11%
REO PROPERTY 306,377.09 5 0.08%
TOTALS $112,166,890.16 2,055 29.94%
===================================
<CAPTION>
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -FEBRUARY 28, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-II $93,699,091.99 1057 1 TO 29 DAYS 24,587,321.73 271 26.24%
30 TO 59 DAYS 4,254,648.59 46 4.54%
60 TO 89 DAYS 1,447,933.63 19 1.55%
90 AND OVER 2,997,624.69 34 3.20%
FORECLOSURE 3,120,308.92 31 3.33%
REO PROPERTY 42,000.00 1 0.04%
TOTALS $36,449,837.56 402 38.90%
===================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT O ( POOL III )
REMIC DELINQUENCIES AS OF -FEBRUARY 28, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-III $50,147,865.83 3482 1 TO 29 DAYS 9,629,012.91 629 19.20%
30 TO 59 DAYS 1,795,970.61 115 3.58%
60 TO 89 DAYS 679,948.12 49 1.36%
90 AND OVER 2,468,559.48 152 4.92%
CLAIMS PENDING 0.00 0 0.00%
FORECLOSURE 288,207.54 19 0.57%
REO PROPERTY 17,727.50 2 0.04%
TOTALS $14,879,426.16 966 29.67%
===================================
<CAPTION>
EXHIBIT O ( POOL IV )
REMIC DELINQUENCIES AS OF -FEBRUARY 28, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-IV 14,301,325.48 72 1 TO 29 DAYS 1,646,833.43 7 11.52%
30 TO 59 DAYS 0.00 0 0.00%
60 TO 89 DAYS 141,000.00 1 0.99%
90 AND OVER 400,000.00 1 2.80%
FORECLOSURE 94,097.28 1 0.66%
REO PROPERTY 0.00 0 0.00%
TOTALS $2,281,930.71 10 15.96%
==================================
</TABLE>
<PAGE>
1996-A
The following additional information, presented in dollars, pursuant to
Secton 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-1 CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 252.32 998.75 1,000.00 1,000.00 1,000.00
(vi) 71.31 0.00 0.00 0.00 0.00
(vii) 1.98 0.00 0.00 0.00 0.00
(viii) 4.99 0.00 0.00 0.00 0.00
(xiii) (a) 1.31 5.27 5.36 5.44 5.71
(b) 78.28 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) 174.04 998.75 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL II
SUBCLAUSE CLASS A-6 CLASS A-7 CLASS A-8 CLASS A-9
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 1,000.00 754.20
(vi) 0.00 0 0.00 26.94
(vii) 0.00 0 0.00 2.33
(viii) 0.00 0 0.00 0.34
(xiii) (a) 5.80 6.13 6.38 3.27
(b) 0.00 0 0.00 29.60
(c) 0.00 0 0.00 0.00
(d) 0.00 0 0.00 0.00
(xv) 1,000.00 506.05 1,000.00 724.59
(xxxvi) 0.00 0 0 0.00
<CAPTION>
POOL III POOL IV
SUBCLAUSE CLASS A-10 CLASS A-11 CLASS A-12 CLASS A-13
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 616.33 1,000.00 1,000.00 926.07
(vi) 12.07 0.00 0.00 22.55
(vii) 1.30 0.00 0.00 0.00
(viii) 4.17 0.00 0.00 0.80
(xiii) (a) 3.27 5.68 6.21 5.72
(b) 27.86 0.00 0.00 29.82
(c) 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00
(xv) 588.47 1,000.00 1,000.00 896.26
(xxxvi) 0.00 0.00 0.00 0.00
</TABLE>
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