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Previous: GRAND PRIX ASSOCIATION OF LONG BEACH INC, 10KSB40, 1997-02-28 |
Next: PHOENIX ABERDEEN SERIES FUND, 497, 1997-02-28 |
<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) February 15, 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 February 15, 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>
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: February 28, 1997
<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 FEBRUARY 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) $10,183,992.38 $4,822,279.87 $1,226,058.91 $155,479.94
ADJ: RECALCULATION 0.00 0.00 0.00 0.00
------------------------------------------------------------------
10,183,992.38 4,822,279.87 1,226,058.91 155,479.94
LESS: SERVICE FEE (7.03 & 5.04) 76,636.31 20,183.16 10,136.55 2,957.75
CONTINGENCY FEE (7.03 & 5.04) 76,636.31 20,183.16 10,136.55 2,957.75
OTHER SERVICER FEES (Late Charges/Escrow)
(7.03 & 5.04) 33,735.41 24,242.99 2,655.64 0.00
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00 0.00
------------------------------------------------------------------
187,008.03 64,609.31 22,928.74 5,915.50
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 54,813.44 0.00 11,613.55 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
------------------------------------------------------------------
54,813.44 0.00 11,613.55 0.00
LESS: EXCESS SPREAD (I-19) 1,117,094.48 280,763.68 234,626.76 42,524.60
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00 0.00
------------------------------------------------------------------
1,117,094.48 280,763.68 234,626.76 42,524.60
----------------- -------------- ----------------- ------------
AVAILABLE REMITTANCE AMOUNT 8,934,703.31 4,476,906.88 980,116.96 107,039.84
================= ============== ================= ============
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 33,331,762.92
(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 98,320,627.89
(J) CLASS A-10 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 21,633,171.17
(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 14,145,839.29
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS A-1 7,134,849.65
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: 7,134,849.65
CLASS A-9 4,046,213.82
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT: 4,046,213.82
CLASS A-10 1,602,415.95
CLASS A-11 0.00
CLASS A-12 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT: 1,602,415.95
CLASS A-13 254,719.61
TOTAL POOL IV PRINCIPAL DISTRIBUTION AMOUNT: 254,719.61
4.TOTAL AMOUNT OF POOL I, II, III & IV
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 10,113,821.74
POOL II 3,021,143.66
POOL III 4,272,222.99
POOL IV 1,462,328.04
(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 128 6,326,092.98
POOL II 42 3,901,408.38
POOL III 39 512,720.93
POOL IV 0 0.00
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 97,025.08
POOL II 1,564.69
POOL III 55,300.97
POOL IV 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 475,553.33
POOL II 39,384.41
POOL III 121,001.48
POOL IV 17,441.94
9. AMOUNT OF INTEREST RECEIVED
POOL I 3,251,585.58
POOL II 855,679.40
POOL III 514,311.80
POOL IV 138,038.00
</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 54,813.44
POOL II 0.00
POOL III 11,613.55
POOL IV 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 305.86
POOL II 2,118.42
POOL III 9.48
POOL IV 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 236,178.26
POOL II 103,856.34
POOL III 92,279.96
POOL IV 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 172,769.64
(B) PRINCIPAL DISTRIBUTION AMOUNT 7,134,849.65
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPT 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 7,307,619.29
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 BANKRUPT 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 BANKRUPT 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 BANKRUPT 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 BANKRUPT 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 BANKRUPT 0.00
TOTAL CLASS A-6 REMITTANCE AMOUNT 185,031.60
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
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 2,141,865.67
(B) PRINCIPAL DISTRIBUTION AMOUNT 7,134,849.65
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 9,276,715.32
CLASS A-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 542,699.61
(B) PRINCIPAL DISTRIBUTION AMOUNT 4,046,213.82
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-9 REMITTANCE AMOUNT 4,588,913.43
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 542,699.61
(B) PRINCIPAL DISTRIBUTION AMOUNT 4,046,213.82
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 4,588,913.43
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 114,836.08
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,602,415.95
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 1,717,252.03
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 275,842.25
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,602,415.95
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 1,878,258.20
CLASS A-13 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 87,350.56
(B) PRINCIPAL DISTRIBUTION AMOUNT 254,719.61
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-13 REMITTANCE AMOUNT 342,070.17
POOL IV REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 87,350.56
(B) PRINCIPAL DISTRIBUTION AMOUNT 254,719.61
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL IV REMITTANCE AMOUNT 342,070.17
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 26,196,913.27
(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 94,274,414.07
(J) CLASS A-10 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 20,030,755.22
(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 13,891,119.68
(O) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 372,373,913.27
(P) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 94,274,414.07
(Q) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 47,530,755.22
(R) TOTAL POOL IV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 13,891,119.68
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II, III AND IV) 100.00%
(B) EXCESS SPREAD (POOL I) 1,117,094.48
EXCESS SPREAD (POOL II) 280,763.68
EXCESS SPREAD (POOL III) 234,626.76
EXCESS SPREAD (POOL IV) 42,524.60
TOTAL EXCESS SPREAD (POOL I, II, III and IV) 1,675,009.52
(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>
<CAPTION>
<S> <C>
17. CUMULATIVE REALIZED LOSSES
POOL I 281,702.11
POOL II 106,360.90
POOL III 317,570.39
POOL IV 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 264.580
POOL II 347.524
POOL III 183.248
POOL IV 333.170
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.639%
POOL II 10.569%
POOL III 12.692%
POOL IV 11.687%
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 76,636.31
POOL II 20,183.16
POOL III 10,136.55
POOL IV 2,957.75
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 76,636.31
POOL II 20,183.16
POOL III 10,136.55
POOL IV 2,957.75
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 15,812.87
POOL II 4,096.69
POOL III 2,047.22
POOL IV 589.41
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 31,626.00
POOL II 9,832.00
POOL III 12,283.00
POOL IV 6,484.00
(E) FHA PREMIUM ACCOUNT 5,048.22
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) 153,272.62 40,366.32
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) 20,273.10 5,915.50
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
21. CLASS A-1 POOL FACTOR (I-
CURRENT CLASS A-1 PRINCIPAL BALANCE 26,196,913.27 0.25232283
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 372,373,913.27 0.82749759
ORIGINAL POOL I PRINCIPAL BALANCE 450,000,000.00
CLASS A-9 (POOL II) FACTOR:
CURRENT CLASS A-9 (POOL II) PRINCIPAL BALANCE 94,274,414.07 0.75419531
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 20,030,755.22 0.61633093
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 47,530,755.22 0.79217925
ORIGINAL POOL III PRINCIPAL BALANCE 60,000,000.00
CLASS A-14 (POOL IV) FACTOR (I-5):
CURRENT CLASS A-14 PRINCIPAL BALANCE 13,891,119.68 0.92607465
ORIGINAL CLASS A-14 PRINCIPAL BALANCE 15,000,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.639%
POOL II 10.569%
POOL III 12.692%
POOL IV 11.687%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 9.989%
POOL II 9.919%
POOL III 10.842%
POOL IV 10.587%
(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 6.933%
CLASS A-9 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.844%
CLASS A-10, CLASS A-11 AND CLASS A-12
ADJUSTED MORTGAGE LOAN REMITTANCE RATE 7.099%
CLASS A-14 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.010%
-------------------------------------------------------------------
(D) WEIGHTED 11/30/96 12/31/96 01/31/97
-------------------------------------------------------------------
POOL I 10.660% 10.649% 10.639%
POOL II 10.313% 10.383% 10.569%
POOL III 12.696% 12.696% 12.692%
POOL IV 11.691% 11.687% 11.687%
23. CLASS A-9 REMITTANCE 5.84438%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-9 N/A
24. LIBOR RATE 5.48438%
25. POOL II NET FUNDS CAP (RATE) 9.693%
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 5,048.22
(B) AMOUNT REIMBURURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PURSUANT TO 6.06(b)(i) 5,048.22
29. (A) AMOUNT OF FHA PAYMENTS AND RELATED PAYMENTS
RECEIVED DURING THE MONTH 15,551.33
30. THE RESERVE AMOUNT FOR THE DUE PERIOD 5,984,448.67
31. CLAIMS FILED DURING THE DUE PERIOD 80,300.00
32. CLAIMS PAID DURING THE PERIOD 15,551.33
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 1,870,791.38
POOL IV 939,144.00
(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 -JANUARY 31, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-I $382,723,913.27 6881 1 TO 29 DAYS 76,576,372.03 1414 20.01%
30 TO 59 DAYS 11,151,615.98 222 2.91%
60 TO 89 DAYS 5,071,415.22 98 1.33%
90 AND OVER 6,953,794.48 149 1.82%
FORECLOSURE 10,902,632.40 170 2.85%
REO PROPERTY 175,925.39 5 0.05%
TOTALS $110,831,755.50 2,058 28.96%
========================================
</TABLE>
EXHIBIT O (POOL II)
REMIC DELINQUENCIES AS OF -JANUARY 31, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-II $97,399,414.07 1098 1 TO 29 DAYS 21,778,938.46 239 22.36%
30 TO 59 DAYS 3,559,523.05 46 3.65%
60 TO 89 DAYS 1,135,428.60 11 1.17%
90 AND OVER 2,755,840.64 31 2.83%
FORECLOSURE 3,245,927.13 32 3.33%
REO PROPERTY 42,000.00 1 0.04%
TOTALS $32,517,657,88 360 33.39%
========================================
</TABLE>
<PAGE>
EXHIBIT O ( POOL III )
REMIC DELINQUENCIES AS OF -JANUARY 31, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-III $50,829,433.40 3524 1 TO 29 DAYS 9,686,424.45 633 19.06%
30 TO 59 DAYS 1,531,589.26 105 3.01%
60 TO 89 DAYS 603,690.06 41 1.19%
90 AND OVER 2,329,853.44 145 4.58%
CLAIMS PENDING 0.00 0 0.00%
FORECLOSURE 279,642.50 18 0.55%
REO PROPERTY 17,727.50 2 0.03%
TOTALS $14,448,927.21 944 28.43%
==================================================
</TABLE>
EXHIBIT O ( POOL IV )
REMIC DELINQUENCIES AS OF -JANUARY 31, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-A-IV 14,651,581.39 74 1 TO 29 DAYS 1,767,990.97 6 12.07%
30 TO 59 DAYS 513,150.32 4 3.50%
60 TO 89 DAYS 0.00 0 0.00%
90 AND OVER 400,000.00 1 2.73%
FORECLOSURE 94,097.28 1 0.64%
REO PROPERTY 0.00 0 0.00%
TOTALS $2,775,238.57 12 18.94%
==================================================
</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-1 CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
- -------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 321.04 998.75 1,000.00 1,000.00 1,000.00
(vi) 60.93 0.00 0.00 0.00 0.00
(vii) 0.93 0.00 0.00 0.00 0.00
(viii) 4.58 0.00 0.00 0.00 0.00
(xiii) (a) 1.66 5.27 5.36 5.44 5.71
(b) 68.72 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) 252.32 998.75 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>
(ii) 1,000.00 1,000.00 1,000.00 786.57
(vi) 0.00 0 0.00 31.21
(vii) 0.00 0 0.00 0.01
(viii) 0.00 0 0.00 0.32
(xiii) (a) 5.80 6.13 6.38 4.34
(b) 0.00 0 0.00 32.37
(c) 0.00 0 0.00 0.00
(d) 0.00 0 0.00 0.00
(xv) 1,000.00 506.05 1,000.00 754.20
(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>
(ii) 665.64 1,000.00 1,000.00 943.06
(vi) 15.78 0.00 0.00 0.00
(vii) 1.70 0.00 0.00 0.00
(viii) 3.72 0.00 0.00 1.16
(xiii) (a) 3.53 5.68 6.21 5.82
(b) 49.31 0.00 0.00 16.98
(c) 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00
(xv) 616.33 1,000.00 1,000.00 926.07
(xxxvi) 0.00 0.00 0.00 0.00
</TABLE>
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