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Previous: CLASSNOTES TRUST 1995-1 ASSET BACKED NOTES SER 1995-2, 8-K, 1996-05-24 |
Next: TMS AUTO GRANTOR TRUST SERIES 1995-2, 8-K, 1996-05-24 |
<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 MAY 10, 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
SBA Loan-Backed Adjustable Rate Certificates, Series 1996-1, Class A and
Class B), The Money Store Investment Corporation, The Money Store
Commercial Mortgage Inc. and The Money Store of New York, Inc.
The Money Store, Inc.
------------------------------------------------------------
(Exact name of regristrant as specified in its charter)
33-98734
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New Jersey 33-84492 68-6127681
---------- -------- ----------
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
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(Address of principal executive officer)
Registrant's Telephone Number,
including area code: 908-686-2000
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n/a
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(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 May 10, 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.
THE MONEY STORE INVESTMENT CORPORATION
THE MONEY STORE COMMERCIAL MORTGAGE INC.
THE MONEY STORE OF NEW YORK INC.
By: /s/ Harry Puglisi
------------------------------
Name: Harry Puglisi
Title: Treasurer
Dated: May 25, 1996
<PAGE>
SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.09 OF THE POOLING AND SERVICING AGREEMENT
DATED AS OF MARCH 29, 1996, THE MONEY STORE INVESTMENT CORPORATION REPORTS
THE FOLLOWING INFORMATION PERTAINING TO SERIES 1996 - 1 FOR THE MAY 10,
1996 DETERMINATION DATE
<TABLE>
<S> <C>
1 AVAILABLE FUNDS $3,529,933.95
2 (A) AGGREGATE CLASS A CERTIFICATE
PRINCIPAL BALANCE AS REPORTED IN THE PRIOR MONTH 92,668,980.40
(B) AGGREGATE CLASS B CERTIFICATE
PRINCIPAL BALANCE AS REPORTED IN THE PRIOR MONTH 6,975,084.55
(C) AGGREGATE POOL PRINCIPAL BALANCE
AS REPORTED IN THE PRIOR MONTH 94,181,665.95
3 PRINCIPAL PREPAYMENTS RECEIVED DURING
DUE PERIOD
(A) NUMBER OF ACCOUNTS 3
(B) DOLLARS 78,532.68
4 PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED
BY CURTAILMENTS RECEIVED DURING THE DUE PERIOD 97,513.61
5 PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED
BY ALL EXCESS AND MONTHLY PAYMENTS IN RESPECT OF
PRINCIPAL RECEIVED DURING THE DUE PERIOD 222,100.12
6 AGGREGATE AMOUNT OF INTEREST RECEIVED NET OF THE AGENT
OF THE SBA's FEE, PREMIUM PROTECTION FEE, ADDITIONAL FEE
AND PORTION PAYABLE TO REGISTERED HOLDERS 1,358,224.15
7 (A) AMOUNT OF MONTHLY ADVANCE 0.00
(B) AMOUNT OF COMPENSATING INTEREST 938.52
8 DELINQUENCY AND FORECLOSURE INFORMATION
(SEE EXHIBIT K)
</TABLE>
<PAGE>
SERIES 1996 - 1
<TABLE>
<S> <C> <C>
9 PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED BY
REALIZED LOSSES ON A LIQUIDATED LOAN 0.00
10 (A) CLASS A INTEREST DISTRIBUTION AMOUNT:
(i) ACCRUED INTEREST 478,789.80
(ii) SHORTFALL, IF ANY, ON A PRECEDING
REMITTANCE DATE PLUS INTEREST 0.00
(iii) CLASS A INTEREST DISTRIBUTION AMOUNT
ADJUSTMENT 1,088.25
ADJUSTED CLASS A INTEREST DISTRIBUTION AMOUNT 479,878.05
5.15997903
(B) CLASS B INTEREST DISTRIBUTION AMOUNT:
(i) ACCRUED INTEREST 39,234.90
(ii) SHORTFALL, IF ANY, ON A PRECEDING
REMITTANCE DATE PLUS INTEREST 0.00
(iii) CLASS B INTEREST DISTRIBUTION AMOUNT
ADJUSTMENT 89.13
ADJUSTED CLASS B INTEREST DISTRIBUTION AMOUNT 39,324.03
5.61771857
(C) CLASS A PRINCIPAL DISTRIBUTION AMOUNT:
(i) UNGUARANTEED PERCENTAGE OF PAYMENTS
AND OTHER RECOVERIES OF PRINCIPAL 370,276.16
(ii) PRINCIPAL PORTION OF THE UNGUARANTEED
INTEREST PURCHASED FOR BREACH OF
WARRANTY AND RECEIVED BY THE TRUSTEE 0.00
(iii) SUBSTITUTION ADJUSTMENTS 0.00
(iv) UNGUARANTEED PERCENTAGE OF
LOSSES THAT WERE LIQUIDATED 0.00
(v) UNGUARANTEED PERCENTAGE OF SBA LOAN
DELINQUENT 24 MONTHS OR
UNCOLLECTIBLE 0.00
(vi) RECALCULATED PRINCIPAL ADJUSTMENT 321.56
TOTAL CLASS A PRINCIPAL DISTRIBUTION AMOUNT 370,597.72
3.98492172
(D) CLASS B PRINCIPAL DISTRIBUTION AMOUNT:
(i) UNGUARANTEED PERCENTAGE OF PAYMENTS
AND OTHER RECOVERIES OF PRINCIPAL 27,870.25
(ii) PRINCIPAL PORTION OF THE UNGUARANTEED
INTEREST PURCHASED FOR BREACH OF
WARRANTY AND RECEIVED BY THE TRUSTEE 0.00
(iii) SUBSTITUTION ADJUSTMENTS 0.00
(iv) UNGUARANTEED PERCENTAGE OF
LOSSES THAT WERE LIQUIDATED 0.00
(v) UNGUARANTEED PERCENTAGE OF SBA LOAN
DELINQUENT 24 MONTHS OR
UNCOLLECTIBLE 0.00
(vi) RECALCULATED PRINCIPAL ADJUSTMENT 24.20
TOTAL CLASS B PRINCIPAL DISTRIBUTION AMOUNT 27,894.45
3.98492143
11 (A) AMOUNT AVAILABLE IN THE SPREAD ACCOUNT
IN CASH AND FROM LIQUIDATION OF
PERMITTED INSTRUMENTS 1,985,374.44
(B) TRANSFER FROM SPREAD ACCOUNT TO CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.02(b) (i) 0.00
</TABLE>
2
<PAGE>
SERIES 1996 - 1
<TABLE>
<S> <C>
12 (A) AGGREGATE CLASS A CERTIFICATE PRINCIPAL
BALANCE AFTER DISTRIBUTIONS TO BE MADE
ON THE REMITTANCE DATE 92,298,382.68
992.45572774
(B) AGGREGATE CLASS B CERTIFICATE PRINCIPAL
BALANCE AFTER DISTRIBUTIONS TO BE MADE
ON THE REMITTANCE DATE 6,947,190.10
992.45572857
(C) POOL PRINCIPAL BALANCE AFTER DISTRIBUTIONS
TO BE MADE ON THE REMITTANCE DATE 93,783,173.78
992.01981844
13 (A) EXCESS SPREAD 382,860.09
(B) EXTRA INTEREST 313,271.70
(C) SPREAD ACCOUNT BALANCE 1,985,374.44
(D) SPECIFIED SPREAD ACCOUNT REQUIREMENT 3,282,411.08
14 (A) WEIGHTED AVERAGE MATURITY 233.518
(B) WEIGHTED AVERAGE SBA LOAN INTEREST RATE 10.438%
15 (A) SERVICING FEE FOR THE RELATED DUE PERIOD 114,753.29
(B) PREMIUM PROTECTION FEE FOR THE RELATED
DUE PERIOD 125,801.17
(C) AMOUNTS TO BE DEPOSITED TO THE EXPENSE
ACCOUNT 4,709.08
16 AMOUNT OF REIMBURSEMENTS PURSUANT TO:
(A) SECTION 5.04 (b) 0.00
(B) SECTION 5.04 (c) 0.00
(C) SECTION 5.04 (d)(ii) 4,782.17
(D) SECTION 5.04 (e) 0.00
(E) SECTION 5.04 (f) 117,683.50
17 (A) CLASS A REMITTANCE RATE 6.200%
(B) CLASS B REMITTANCE RATE 6.750%
</TABLE>
3
<PAGE>
SERIES 1996 - 1
18 OTHER INFORMATION AS REQUESTED 0.00
I, Harry Puglisi, Treasurer, represent that The Money Store Investment
Corporation complied with section 6.09 of the Pooling and Servicing Agreement
dated March 29, 1996 pertaining to Series 1996 - 1 in preparing the accompanying
Servicer's Certificate.
THE MONEY STORE INVESTMENT CORPORATION
/s/ Harry Puglisi
BY: ____________________________
HARRY PUGLISI
TREASURER
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