SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 reported)
June 10, 1996
AMRESCO Residential Securities Corporation
(on behalf of AMRESCO Residential Securities
Corporation Mortgage Loan Trust 1996-3)
(Exact name of registrant as specified in its charter)
New York 33-99346 Pending
(State or Other Jurisdiction) (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
c/o Bankers Trust Company of California, N.A.
3 Park Plaza, 16th Floor Irvine, CA 92714
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (909) 605-7600
No Change
(Former name or former address, if changed since last report)
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
99.1 Computational Materials of Goldman,
Sachs & Co. relating to the Offered Certificates -
Preliminary Structure
99.2 Computational Materials of Goldman, Sachs & Co.
relating to the Offered Certificates - Description
of Initial Group 1 Mortgage Loans
99.3 Computational Materials of Goldman, Sachs & Co.
relating to the Offered Certificates - Price/Margin Table
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 hereunto duly authorized.
AMRESCO RESIDENTIAL SECURITIES CORPORATION,
as Depositor
By: /s/ Ronald B. Kirkland
Name: Ronald B. Kirkland
Title: Chief Financial Officer and
Chief Accounting Officer
Dated: June 10, 1996
EXHIBIT INDEX
Exhibit No. Description
99.1 Computational Materials of Goldman,
Sachs & Co. relating to the Offered
Certificates - Preliminary Structure.
99.2 Computational Materials of Goldman,
Sachs & Co. relating to the Offered
Certificates - Description of Initial
Group 1 Mortgage Loans.
99.3 Computational Materials of Goldman,
Sachs & Co. relating to the Offered
Certificates - Price/Margin Table.
This material is for your private information and we are not
soliciting any action based upon it. This material is not to be
construed as an offer to sell or the solicitation of any offer to buy
any security in any jurisdiction where such an offer or solicitation
would be illegal. This material is based on information that we
consider reliable, but we do not represent that it is accurate or
complete and it should not be relied upon as such. By accepting this
material the recipient agrees that it will not distribute or provide
the material to any other person. The information contained in this
material may not pertain to any securities that will actually be sold.
The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected therein. We
make no representations regarding the reasonableness of such
assumptions or the likelihood that any of such assumptions will
coincide with actual market conditions or events, and this material
should not be relied upon for such purposes. We and our affiliates,
officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from
time to time, have long or short positions in, and buy and sell, the
securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange
Commission (the "SEC")and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of
the Securities Act of 1933, including in cases where the material does
not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this
material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any
securities discussed herein supersedes all prior information regarding
such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be
superseded by the information contained in any final prospectus for
any securities actually sold to you.
This material is furnished solely by Goldman, Sachs & Co. and not by
the issuer of the securities or any of its affiliates. Goldman, Sachs
& Co. is acting as underwriter and not acting as agent for the issuer
or its affiliates in connection with the poroposed transaction. The
issuer has not prepared or taken part in the preparation of these
materials.
<TABLE>
June 4, 1996
$267.75 mm (approx) Class A Certificates
AMRESCO RESIDENTIAL SECURITIES CORPORATION MORTGAGE LOAN TRUST 1996-3
Preliminary Structure
<CAPTION>
Class Face Interest First Expected Backed by Expected
Amount Rate Date(1) Avg.Life Loan Group Final Payment
Date
<S> <C> <C> <C> <C> <C> <C> <C>
A1 $70,892,000 1 mo.LIBOR July 25,1996 0.933 Loan Group I 2/1998
+ []bp(2) at
pricing
A2 $27,106,000 7.075% July 25,1996 2.079yrs Loan Group I 11/1998
A3 $34,146,000 7.250% July 25,1996 3.046yrs Loan Group I 2/2000
A4 $17,049,000 7.475% July 25,1996 4.100yrs Loan Group I 12/2000
A5 $22,626,000 7.600% July 25,1996 5.200yrs Loan Group I 5/2002
A6 $26,857,000 7.900% July 25,1996 7.200yrs Loan Group I 2/2005
A7 $26,276,000 8.100% July 25,1996 12.089yrs Loan Group I 10/2005
A8 $42,175,000 1 mo. July 25,1996 4.214yrs Loan Group II 10/2005
LIBOR + []
bp(2)
</TABLE>
(1) Payment Dates are the 25th of each respective month, or if such day
is not a business day, the next succeeding business day.
(2) The least of (i) prior to Clean Up Call, __%, after Clean Up
Call __% (ii) __% (iii) An Available Funds Cap.
(3) Assumes 0% CPR in the first month of the life of the mortgage
loans and increases ratably to 21% CPR by month 10. Remains
constant at 21% CPR thereafter. Class A-7 and A-8 assume 10% clean
up call is exercised.
Managers: Prudential Securities (books), Goldman, Sachs
& Co., CS First Boston
Structure: Two Pool Groups; MBIA Certificate Insurance
Policy, Overcollateralization, Cross-
Collateralization, Pre-Funding Account and
Capitalized Interest Acct
Ratings(expected): Moodys/S&P: Aaa/AAA
Collateral: The Initial Mortgage Loans: approx $251 mm
Subsequent Pre-Funded Mortgage Loans: approx
$16 mm
The Mortgage Loans will be comprised of loans
from Advanta Mortgage Corporation USA and
Long Beach Mortgage Company
Group I Loans are fixed rate loans. Group II
Loans are generally LIBOR-based loans.
Credit Enhancement: i) MBIA Financial Guaranty Insurance Policy
that will provide for 100% coverage of the
principal amount of, and scheduled interest
due on, the Class A Certificates;
i) overcollateralization through a limited
acceleration of the Class A Certificates;
iii) cross-collateralization across the two
pool groups will also be available
iv) excess monthly cash flow on a current basis.
Expected June 5, 1996/June 12, 1996
Pricing/Settlement:
This material is for your private information and we are not
soliciting any action based upon it. This material is not to be
construed as an offer to sell or the solicitation of any offer to buy
any security in any jurisdiction where such an offer or solicitation
would be illegal. This material is based on information that we
consider reliable, but we do not represent that it is accurate or
complete and it should not be relied upon as such. By accepting this
material the recipient agrees that it will not distribute or provide
the material to any other person. The information contained in this
material may not pertain to any securities that will actually be sold.
The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected therein. We
make no representations regarding the reasonableness of such
assumptions or the likelihood that any of such assumptions will
coincide with actual market conditions or events, and this material
should not be relied upon for such purposes. We and our affiliates,
officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from
time to time, have long or short positions in, and buy and sell, the
securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange
Commission (the "SEC")and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of
the Securities Act of 1933, including in cases where the material does
not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this
material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any
securities discussed herein supersedes all prior information regarding
such assets. Any information in the material, whether regarding the
assets backing any securities discussed herein or otherwise, will be
superseded by the information contained in any final prospectus for
any securities actually sold to you.
This material is furnished solely by Goldman, Sachs & Co. and not by
the issuer of the securities or any of its affiliates. Goldman, Sachs
& Co. is acting as underwriter and not acting as agent for the issuer
or its affiliates in connection with the poroposed transaction. The
issuer has not prepared or taken part in the preparation of these
materials.
June 4, 1996
AMRESCO Residential Securities Corporation Series 1996-3
DESCRIPTION OF INITIAL GROUP I MORTGAGE LOANS
2,092 loans for $212.5 mm
Gross Mortgage % Original LTV %
Interest Rate
Wtd Avg 9.862 WTD Avg LTV 73.28
6.50 - 8.00% 0.29 5 - 50% 5.27
8.00 - 8.50 10.98 50 - 60 6.34
8.50 - 9.00 15.30 60 - 65 6.80
9.00 - 9.50 13.82 65 - 70 11.24
9.50 - 10.00 28.33 70 - 75 26.64
10.00 - 10.50 8.56 75 - 80 30.64
10.50 - 11.00 12.64 80 - 85 10.65
11.00 - 11.50 3.64 85 - 90 2.43
11.50 - 12.00 3.30
12.00 - 15.00 3.17 Occupancy %
Status
Owner 90.19
Age % Non-Owner 9.81
Wtd Avg 1.824
Less than 6 m 100.00
Property Type %
Remaining % Single Family 88.65
Months
WAM 346 PUD 3.14
48 - 60 0.04 Townhouses 0.10
108 - 120 0.44 Condominium 2.55
168 - 180 4.62 Mobile Homes 0.12
228 - 240 2.29 2 - 4 Units 5.24
348 - 360 92.60 Other 0.20
Principal % State %
Balance Concentration
0 - 50M 6.58 California 62.71
50 - 100 30.33 Washington 4.45
100 - 150 31.08 Colorado 4.15
150 - 200 14.01 Others 28.69
200 - 250 7.84
250 - 300 4.78
300 - 350 2.29
350 - 500 3.10
AMRESCO Residential Securities Corporation Series 1996-3
DESCRIPTION OF INITIAL GROUP II MORTGAGE LOANS
387 loans for $38.8 mm
Gross Mortgage % Original LTV %
Interest Rate
Wtd Avg 9.911 WTD Avg LTV 73.69
6.00 - 7.50% 1.85 under 50% 3.53
7.50 - 8.00 3.90 50 - 60 6.79
8.00 - 8.50 7.54 60 - 65 6.46
8.50 - 9.00 17.39 65 - 70 13.55
9.00 - 9.50 15.41 70 - 75 33.81
9.50 - 10.00 15.61 75 - 80 22.70
10.00 - 10.50 14.01 80 - 85 8.36
10.50 - 11.00 7.83 85 - 90 4.70
11.00 - 11.50 5.31
11.50 - 12.00 4.16 Occupancy %
12.00 - 15.00 7.00 Status
Owner Occupied 94.12
Non-owner 5.88
Occupied
Gross Margin %
Wtd Avg 6.203 Age %
3.50 - 4.00 1.04 Less than 6 m 100.00
4.00 - 4.25 1.03
4.25 - 4.50 1.55 Next Adjustment %
Date
4.50 - 5.00 8.53 WTD Avg MTR 8.68
5.00 - 5.50 8.27 08/01/96 0.48
5.50 - 5.75 6.98 09/01/96 1.79
5.75 - 6.00 7.49 10/01/96 13.69
6.00 - 6.25 8.27 11/01/96 37.07
6.25 - 6.50 11.11 12/01/96 26.16
6.50 - 6.75 12.14 03/01/98 3.08
6.75 - 7.00 10.08 04/01/98 8.60
7.00 - 7.25 20.16 05/01/98 8.49
7.25 - 8.25 3.36 06/01/98 0.64
LifeTime Caps % Property Type %
WAM 16.909 Single Family 82.26
13.00 - 15.50% 11.11 PUD 9.75
15.50 - 16.00 13.44 Apartments 2 - 5.57
4 Units
16.00 - 16.50 12.14 Condominium 1.82
16.50 - 17.00 15.25 Mobile Homes 0.50
17.00 - 17.50 13.95 Other 0.11
17.50 - 18.00 10.08
LifeTime Caps
(cont'd)
18.00 - 18.50 6.46 State %
Concentration
18.50 - 19.00 4.65 California 35.90
19.00 - 19.50 3.62 Colorado 8.59
19.50 - 22.00 9.31 Washington 6.42
Illinois 6.09
Remaining % Utah 6.04
Months
WAM 356
108 - 120 .26
168 - 180 .70
228 - 240 .52
348 - 360 98.52
Principal %
Balance
0 - 50M 7.12
50 - 100 31.07
100 - 150 28.25
150 - 200 14.03
200 - 250 5.97
250 - 300 5.03
300 - 350 5.12
350 - 500 3.40
Price/Margin Table REPORT PRINT DATE : 05-JUN-96
Portfolio Name : AMRESCO REPORT PRINT TIME : 13:50:10
___________________________________________________________________________
Class : A1
Coupon : 1MO LIBOR + 11bps Payment Period : MONTHLY
Settlement Date : 06/12/96
Stated Maturity Date : N/A Accrual Bond : NO
Accrual Start Date : 06/25/96
Original Balance : $ 70,892,000.00 Days Delay : 0
Last Payment Date : NEW BOND
Current Balance : $ 70,892,000.00
Next Payment Date : 07/25/96
____________________________________________________________________________
Coupon is paid on a 330/360 basis (not actual/360) and margins are calculated
on a 30/360 basis.
<TABLE>
<CAPTION>
Prepay speeds ramp from 0% to X% CPR linearly over 10 months, based on the age of the loan.
<S> <C> <C> <C> <C> <C> <C> <C>
GRP I 15% 18% 20% 21% 22% 24% 28%
GRP II 21% 21% 21% 21% 21% 21% 21%
</TABLE>
<TABLE>
<CAPTION>
PRICE
(32nds) MARGIN DUR MARGIN DUR MARGIN DUR MARGIN DUR MARGIN DUR MARGIN DUR MARGIN DUR
- --------- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ -----
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.30 0.1644 1.11 0.1718 0.98 0.1764 0.91 0.1786 0.88 0.1808 0.85 0.1849 0.81 0.1928 0.73
99.30+ 0.1506 0.1562 0.1596 0.1613 0.1629 0.1660 0.1719
99.31 0.1369 0.1405 0.1428 0.1439 0.1450 0.1471 0.1509
99.31+ 0.1232 0.1249 0.1261 0.1266 0.1271 0.1281 0.1300
100.00 0.1094 1.11 0.1093 0.98 0.1093 0.91 0.1093 0.88 0.1092 0.85 0.1092 0.81 0.1091 0.73
100.00+ 0.0957 0.0937 0.0925 0.0919 0.0914 0.0903 0.0882
100.01 0.0819 0.0781 0.0758 0.0746 0.0735 0.0713 0.0673
100.01+ 0.0682 0.0625 0.0590 0.0573 0.0556 0.0524 0.0464
100.02 0.0545 1.11 0.0470 0.98 0.0423 0.91 0.0400 0.88 0.0378 0.85 0.0335 0.81 0.0255 0.73
100.02+ 0.0408 0.0314 0.0255 0.0227 0.0199 0.0146 0.0046
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
FIRST PAY 07/25/96 07/25/96 07/25/96 07/25/96 07/25/96 07/25/96 07/25/96
AVG. LIFE 1.19 1.04 0.96 0.93 0.90 0.85 0.77
FINAL MAT 09/25/98 05/25/98 03/25/98 02/25/98 01/25/98 12/25/97 10/25/97
</TABLE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to
sell or the solicitation of any offer to buy any security in any jurisdiction
where such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
not pertain to any securities that will actually be sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected therein. We make no representations
regarding the reasonableness of such assumptions or the likelihood that any of
such assumptions will coincide with actual market conditions or events, and
this material should not be relied upon for such purposes. We and our
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to
time, have long or short positions in, and buy or sell, the securities
mentioned herein or derivatives thereof (including options). This material may
be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including
in cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information
contained in this material is current as of the date appearing on this
material only.
Information in this material regarding the assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
included in the final prospectus for any securities actually sold to you. This
material is furnished to you solely by Goldman, Sachs & Co. and not by the
issuer of the securities or any of its affiliates. Goldman, Sachs & Co. is
acting as underwriter and not acting as agent for the issuer or its affiliates
in connection with the proposed transaction. The issuer has not prepared or
taken part in the preparation of these materials.
1. Yields and Modified Durations are Corporate Bond Equivalent. Yields are
calculated to call.
2. Current Balance is projected for each prepayment model; Settlement is in
or beyond the Delay Period.
Call Features: 10%
Goldman, Sachs & Co._______________________________________________Page 1
<PAGE>
Price/Yield Table REPORT PRINT DATE : 05-JUN-96
Portfolio Name : AMRESCO REPORT PRINT TIME : 08:53:11
____________________________________________________________________________
Class : A2
Coupon : 7.07500 Payment Period : MONTHLY
Settlement Date : 06/12/96
Stated Maturity Date : N/A Accrual Bond : NO
Accrual Start Date : 06/01/96
Original Balance : $ 27,106,000.00 Days Delay : 24
Last Payment Date : NEW BOND
Current Balance : $ 27,106,000.00
Next Payment Date : 07/25/96
_______________________________________________________________________________
<TABLE>
<CAPTION>
Prepay speeds ramp from 0% to X% CPR linearly over 10 months, based on the age of the loan.
<S> <C> <C> <C> <C> <C> <C> <C>
GRP I 15% 18% 20% 21% 22% 24% 28%
GRP II 21% 21% 21% 21% 21% 21% 21%
</TABLE>
<TABLE>
<CAPTION>
PRICE
(32nds) YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR
- --------- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ -----
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.28 7.041 2.48 7.018 2.14 7.003 1.96 6.996 1.88 6.988 1.81 6.974 1.68 6.945 1.47
99.28+ 7.034 7.011 6.995 6.987 6.980 6.964 6.934
99.29 7.028 7.004 6.987 6.979 6.971 6.955 6.924
99.29+ 7.022 6.996 6.979 6.971 6.963 6.946 6.913
99.30 7.016 2.48 6.989 2.14 6.971 1.96 6.963 1.88 6.954 1.81 6.937 1.68 6.903 1.47
99.30+ 7.009 6.982 6.963 6.954 6.945 6.927 6.892
99.31 7.003 6.974 6.955 6.946 6.937 6.918 6.881
99.31+ 6.997 6.967 6.947 6.938 6.928 6.909 6.871
100.00 6.991 2.48 6.960 2.14 6.939 1.96 6.929 1.88 6.919 1.81 6.899 1.68 6.860 1.47
100.00+ 6.984 6.952 6.931 6.921 6.911 6.890 6.850
100.01 6.978 6.945 6.923 6.913 6.902 6.881 6.839
100.01+ 6.972 6.938 6.915 6.904 6.893 6.871 6.829
100.02 6.965 2.48 6.931 2.14 6.907 1.96 6.896 1.88 6.885 1.81 6.862 1.68 6.818 1.47
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
FIRST PAY 09/25/98 05/25/98 03/25/98 02/25/98 01/25/98 12/25/97 10/25/97
AVG. LIFE 2.82 2.39 2.17 2.08 1.99 1.84 1.60
FINAL MAT 10/25/99 04/25/99 01/25/99 11/25/98 10/25/98 08/25/98 04/25/98
</TABLE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to
sell or the solicitation of any offer to buy any security in any jurisdiction
where such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide
the material to any other person. The information contained in this material
may not pertain to any securities that will actually be sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected therein. We make no representations
regarding the reasonableness of such assumptions or the likelihood that any of
such assumptions will coincide with actual market conditions or events, and
this material should not be relied upon for such purposes. We and our
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to
time, have long or short positions in, and buy or sell, the securities
mentioned herein or derivatives thereof (including options). This material may
be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including
in cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information
contained in this material is current as of the date appearing on this
material only.
Information in this material regarding the assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
included in the final prospectus for any securities actually sold to you.
This material is furnished to you solely by Goldman, Sachs & Co. and not by the
issuer of the securities or any of its affiliates. Goldman, Sachs & Co. is
acting as underwriter and not acting as agent for the issuer or its affiliates
in connection with the proposed transaction. The issuer has not prepared or
taken part in the preparation of these materials.
Notes:
1. Yields and Modified Durations are Corporate Bond Equivalent. Yields are
calculated to call.
2. Current Balance is projected for each prepayment model; Settlement is in or
beyond the Delay Period.
Call Features: 10%
Goldman, Sachs & Co._____________________________________________________
<PAGE>
Price/Yield Table REPORT PRINT DATE : 05-JUN-96
Portfolio Name : AMRESCO REPORT PRINT TIME : 08:58:21
_____________________________________________________________________
Class : A3
Coupon : 7.25000 Payment Period : MONTHLY
Settlement Date : 06/12/96
Stated Maturity Date : N/A Accrual Bond : NO
Accrual Start Date : 06/01/96
Original Balance : $ 34,146,000.00 Days Delay : 24
Last Payment Date : NEW BOND
Current Balance : $ 34,146,000.00
Next Payment Date : 07/25/96
______________________________________________________________________________
<TABLE>
<CAPTION>
Prepay speeds ramp from 0% to X% CPR linearly over 10 months, based on the age of the loan.
<S> <C> <C> <C> <C> <C> <C> <C>
GRP I 15% 18% 20% 21% 22% 24% 28%
GRP II 21% 21% 21% 21% 21% 21% 21%
</TABLE>
<TABLE>
<CAPTION>
PRICE
(32nds) YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR
- --------- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ -----
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.28 7.258 3.51 7.242 3.02 7.231 2.76 7.225 2.65 7.220 2.55 7.209 2.36 7.187 2.06
99.28+ 7.254 7.237 7.225 7.220 7.214 7.202 7.179
99.29 7.249 7.232 7.220 7.214 7.208 7.196 7.171
99.29+ 7.245 7.226 7.214 7.208 7.202 7.189 7.164
99.30 7.241 3.51 7.221 3.02 7.208 2.76 7.202 2.65 7.195 2.55 7.182 2.36 7.156 2.06
99.30+ 7.236 7.216 7.203 7.196 7.189 7.176 7.149
99.31 7.232 7.211 7.197 7.190 7.183 7.169 7.141
99.31+ 7.227 7.206 7.191 7.184 7.177 7.163 7.134
100.00 7.223 3.51 7.201 3.02 7.186 2.76 7.178 2.65 7.171 2.55 7.156 2.36 7.126 2.06
100.00+ 7.218 7.195 7.180 7.173 7.165 7.149 7.118
100.01 7.214 7.190 7.175 7.167 7.159 7.143 7.111
100.01+ 7.209 7.185 7.169 7.161 7.153 7.136 7.103
100.02 7.205 3.51 7.180 3.02 7.163 2.77 7.155 2.65 7.146 2.55 7.130 2.36 7.096 2.06
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
FIRST PAY 10/25/99 04/25/99 01/25/99 11/25/98 10/25/98 08/25/98 04/25/98
AVG. LIFE 4.19 3.53 3.19 3.05 2.91 2.68 2.30
FINAL MAT 07/25/01 09/25/00 04/25/00 02/25/00 12/25/99 08/25/99 03/25/99
</TABLE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction
where such an offer or solicitation would be illegal. This material is
based on information that we consider reliable, but we do not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may not pertain to any securities that will actually be sold. The
information contained in this material may be based on assumptions regarding
market conditions and other matters as reflected therein. We make no
representations regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. We and our affiliates, officers, directors, partners and employees,
including persons involved in the preparation or issuance of this material may,
from time to time, have long or short positions in, and buy or sell, the
securities mentioned herein or derivatives thereof (including options). This
material may be filed with the Securities and Exchange Commission (the "SEC")
and incorporated by reference into an effective registration statement
previously filed with the SEC under Rule 415 of the Securities Act of 1933,
including in cases where the material does not pertain to securities that are
ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding the assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information included in the final prospectus for any securities actually
sold to you. This material is furnished to you solely by Goldman, Sachs & Co.
and not by the issuer of the securities or any of its affiliates. Goldman,
Sachs & Co. is acting as underwriter and not acting as agent for the issuer or
its affiliates in connection with the proposed transaction. The issuer has not
prepared or taken part in the preparation of these materials.
Notes:
1. Yields and Modified Durations are Corporate Bond Equivalent. Yields are
calculated to call.
2. Current Balance is projected for each prepayment model; Settlement is in or
beyond the Delay Period.
Call Features: 10%
Goldman, Sachs & Co.__________________________________________________________
<PAGE>
Price/Yield Table REPORT PRINT DATE : 05-JUN-96
Portfolio Name : AMRESCO REPORT PRINT TIME : 09:00:59
____________________________________________________________________________
Class : A4
Coupon : 7.47500 Payment Period : MONTHLY
Settlement Date : 06/12/96
Stated Maturity Date : N/A Accrual Bond : NO
Accrual Start Date : 06/01/96
Original Balance : $ 17,049,000.00 Days Delay : 24
Last Payment Date : NEW BOND
Current Balance : $ 17,049,000.00
Next Payment Date : 07/25/96
______________________________________________________________________________
<TABLE>
<CAPTION>
Prepay speeds ramp from 0% to X% CPR linearly over 10 months, based on the age of the loan.
<S> <C> <C> <C> <C> <C> <C> <C>
GRP I 15% 18% 20% 21% 22% 24% 28%
GRP II 21% 21% 21% 21% 21% 21% 21%
</TABLE>
<TABLE>
<CAPTION>
PRICE
(32nds) YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR
- --------- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ -----
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.27 7.516 4.49 7.505 3.89 7.497 3.57 7.493 3.42 7.489 3.29 7.481 3.05 7.464 2.66
99.27+ 7.513 7.501 7.492 7.488 7.484 7.475 7.458
99.28 7.509 7.497 7.488 7.484 7.479 7.470 7.452
99.28+ 7.506 7.493 7.484 7.479 7.474 7.465 7.446
99.29 7.502 4.49 7.489 3.89 7.479 3.57 7.474 3.43 7.470 3.29 7.460 3.05 7.441 2.66
99.29+ 7.499 7.485 7.475 7.470 7.465 7.455 7.435
99.30 7.496 7.481 7.470 7.465 7.460 7.450 7.429
99.30+ 7.492 7.477 7.466 7.461 7.455 7.445 7.423
99.31 7.489 4.49 7.473 3.89 7.462 3.57 7.456 3.43 7.451 3.29 7.440 3.05 7.417 2.66
99.31+ 7.485 7.469 7.457 7.452 7.446 7.435 7.411
100.00 7.482 7.465 7.453 7.447 7.441 7.430 7.405
100.00+ 7.478 7.461 7.449 7.443 7.437 7.424 7.400
100.01 7.475 4.49 7.457 3.89 7.444 3.57 7.438 3.43 7.432 3.29 7.419 3.06 7.394 2.66
100.01+ 7.471 7.453 7.440 7.434 7.427 7.414 7.388
100.02 7.468 7.449 7.436 7.429 7.422 7.409 7.382
100.02+ 7.464 7.445 7.431 7.424 7.418 7.404 7.376
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
FIRST PAY 07/25/01 09/25/00 04/25/00 02/25/00 12/25/99 08/25/99 03/25/99
AVG. LIFE 5.68 4.77 4.30 4.10 3.91 3.59 3.07
FINAL MAT 09/25/02 09/25/01 03/25/01 12/25/00 09/25/00 05/25/00 10/25/99
</TABLE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction where
such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide
the material to any other person. The information contained in this material may
not pertain to any securities that will actually be sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected therein. We make no representations
regarding the reasonableness of such assumptions or the likelihood that any of
such assumptions will coincide with actual market conditions or events, and
this material should not be relied upon for such purposes. We and our
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to
time, have long or short positions in, and buy or sell, the securities
mentioned herein or derivatives thereof (including options). This material may
be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including
in cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information
contained in this material is current as of the date appearing on this
material only.
Information in this material regarding the assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
included in the final prospectus for any securities actually sold to you.
This material is furnished to you solely by Goldman, Sachs & Co. and not by the
issuer of the securities or any of its affiliates. Goldman, Sachs & Co. is
acting as underwriter and not acting as agent for the issuer or its affiliates
in connection with the proposed transaction. The issuer has not prepared or
taken part in the preparation of these materials.
Notes:
1. Yields and Modified Durations are Corporate Bond Equivalent. Yields are
calculated to call.
2. Current Balance is projected for each prepayment model; Settlement is in or
beyond the Delay Period.
Call Features: 10%
Goldman, Sachs & Co.________________________________________________________
<PAGE>
Price/Yield Table REPORT PRINT DATE : 05-JUN-96
Portfolio Name : AMRESCO REPORT PRINT TIME : 09:02:59
____________________________________________________________________________
Class : A5
Coupon : 7.60000 Payment Period : MONTHLY
Settlement Date : 06/12/96
Stated Maturity Date : N/A Accrual Bond : NO
Accrual Start Date : 06/01/96
Original Balance : $ 22,626,000.00 Days Delay : 24
Last Payment Date : NEW BOND
Current Balance : $ 22,626,000.00
Next Payment Date : 07/25/96
_____________________________________________________________________________
<TABLE>
<CAPTION>
Prepay speeds ramp from 0% to X% CPR linearly over 10 months, based on the age of the loan.
<S> <C> <C> <C> <C> <C> <C> <C>
GRP I 15% 18% 20% 21% 22% 24% 28%
GRP II 21% 21% 21% 21% 21% 21% 21%
</TABLE>
<TABLE>
<CAPTION>
PRICE
(32nds) YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR
- --------- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ -----
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.27 7.656 5.39 7.647 4.70 7.641 4.33 7.637 4.16 7.634 4.01 7.627 3.72 7.614 3.25
99.27+ 7.654 7.644 7.637 7.634 7.630 7.623 7.609
99.28 7.651 7.640 7.633 7.630 7.626 7.619 7.604
99.28+ 7.648 7.637 7.630 7.626 7.622 7.615 7.599
99.29 7.645 5.39 7.634 4.71 7.626 4.33 7.622 4.16 7.618 4.01 7.611 3.72 7.595 3.25
99.29+ 7.642 7.630 7.623 7.619 7.615 7.606 7.590
99.30 7.639 7.627 7.619 7.615 7.611 7.602 7.585
99.30+ 7.636 7.624 7.615 7.611 7.607 7.598 7.580
99.31 7.633 5.39 7.620 4.71 7.612 4.33 7.607 4.16 7.603 4.01 7.594 3.72 7.575 3.25
99.31+ 7.630 7.617 7.608 7.604 7.599 7.590 7.571
100.00 7.627 7.614 7.605 7.600 7.595 7.585 7.566
100.00+ 7.625 7.611 7.601 7.596 7.591 7.581 7.561
100.01 7.622 5.39 7.607 4.71 7.597 4.33 7.592 4.16 7.587 4.01 7.577 3.72 7.556 3.25
100.01+ 7.619 7.604 7.594 7.589 7.583 7.573 7.551
100.02 7.616 7.601 7.590 7.585 7.580 7.569 7.547
100.02+ 7.613 7.597 7.587 7.581 7.576 7.565 7.542
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
FIRST PAY 09/25/02 09/25/01 03/25/01 12/25/00 09/25/00 05/25/00 10/25/99
AVG. LIFE 7.22 6.06 5.46 5.20 4.96 4.54 3.87
FINAL MAT 09/25/04 05/25/03 09/25/02 05/25/02 02/25/02 08/25/01 11/25/00
</TABLE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction
where such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide
the material to any other person. The information contained in this material
may not pertain to any securities that will actually be sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected therein. We make no representations
regarding the reasonableness of such assumptions or the likelihood that any of
such assumptions will coincide with actual market conditions or events, and
this material should not be relied upon for such purposes. We and our
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to
time, have long or short positions in, and buy or sell, the securities
mentioned herein or derivatives thereof (including options). This material may
be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including
in cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information
contained in this material is current as of the date appearing on this
material only. Information in this material regarding the assets backing
any securities discussed herein supersedes all prior information regarding
such assets. Any information in the material, whether regarding the assets
backing any securities discussed herein or otherwise, will be superseded by
the information included in the final prospectus for any securities actually
sold to you. This material is furnished to you solely by Goldman, Sachs & Co.
and not by the issuer of the securities or any of its affiliates. Goldman,
Sachs & Co. is acting as underwriter and not acting as agent for the issuer
or its affiliates in connection with the proposed transaction. The issuer has
not prepared or taken part in the preparation of these materials.
Notes:
1. Yields and Modified Durations are Corporate Bond Equivalent. Yields are
calculated to call.
2. Current Balance is projected for each prepayment model; Settlement is in or
beyond the Delay Period.
Call Features: 10%
Goldman, Sachs & Co.__________________________________________________________
<PAGE>
Price/Yield Table REPORT PRINT DATE : 05-JUN-96
Portfolio Name : AMRESCO REPORT PRINT TIME : 09:04:34
_____________________________________________________________________________
Class : A6
Coupon : 7.90000 Payment Period : MONTHLY
Settlement Date : 06/12/96
Stated Maturity Date : N/A Accrual Bond : NO
Accrual Start Date : 06/01/96
Original Balance : $ 26,857,000.00 Days Delay : 24
Last Payment Date : NEW BOND
Current Balance : $ 26,857,000.00
Next Payment Date : 07/25/96
_____________________________________________________________________________
<TABLE>
<CAPTION>
Prepay speeds ramp from 0% to X% CPR linearly over 10 months, based on the age of the loan.
<S> <C> <C> <C> <C> <C> <C> <C>
GRP I 15% 18% 20% 21% 22% 24% 28%
GRP II 21% 21% 21% 21% 21% 21% 21%
</TABLE>
<TABLE>
<CAPTION>
PRICE
(32nds) YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR
- --------- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ -----
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.29 7.966 6.68 7.958 5.93 7.953 5.50 7.950 5.31 7.947 5.12 7.941 4.79 7.929 4.21
99.29+ 7.964 7.956 7.950 7.947 7.944 7.938 7.925
99.30 7.962 7.953 7.947 7.944 7.941 7.934 7.921
99.30+ 7.959 7.950 7.944 7.941 7.938 7.931 7.918
99.31 7.957 6.68 7.948 5.93 7.941 5.50 7.938 5.31 7.935 5.13 7.928 4.79 7.914 4.21
99.31+ 7.955 7.945 7.938 7.935 7.932 7.925 7.910
100.00 7.952 7.943 7.936 7.932 7.929 7.921 7.906
100.00+ 7.950 7.940 7.933 7.929 7.926 7.918 7.903
100.01 7.948 6.68 7.937 5.93 7.930 5.51 7.926 5.31 7.923 5.13 7.915 4.79 7.899 4.21
100.01+ 7.945 7.935 7.927 7.923 7.919 7.912 7.895
100.02 7.943 7.932 7.924 7.920 7.916 7.908 7.892
100.02+ 7.941 7.929 7.922 7.917 7.913 7.905 7.888
100.03 7.938 6.68 7.927 5.93 7.919 5.51 7.915 5.31 7.910 5.13 7.902 4.79 7.884 4.22
100.03+ 7.936 7.924 7.916 7.912 7.907 7.899 7.881
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
FIRST PAY 09/25/04 05/25/03 09/25/02 05/25/02 02/25/02 08/25/01 11/25/00
AVG. LIFE 9.98 8.39 7.56 7.20 6.87 6.28 5.34
FINAL MAT 07/25/08 08/25/06 08/25/05 03/25/05 10/25/04 01/25/04 11/25/02
</TABLE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction
where such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide
the material to any other person. The information contained in this material
may not pertain to any securities that will actually be sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected therein. We make no
representations regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. We and our affiliates, officers, directors, partners and employees,
including persons involved in the preparation or issuance of this material
may, from time to time, have long or short positions in, and buy or sell,
the securities mentioned herein or derivatives thereof (including options).
This material may be filed with the Securities and Exchange Commission (the
"SEC") and incorporated by reference into an effective registration statement
previously filed with the SEC under Rule 415 of the Securities Act of 1933,
including in cases where the material does not pertain to securities that are
ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing
on this material only. Information in this material regarding the assets
backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding
the assets backing any securities discussed herein or otherwise, will be
superseded by the information included in the final prospectus for any
securities actually sold to you. This material is furnished to you solely
by Goldman, Sachs & Co. and not by the issuer of the securities or any of
its affiliates. Goldman, Sachs & Co. is acting as underwriter and not acting
as agent for the issuer or its affiliates in connection with the proposed
transaction. The issuer has not prepared or taken part in the preparation of
these materials.
Notes:
1. Yields and Modified Durations are Corporate Bond Equivalent. Yields are
calculated to call.
2. Current Balance is projected for each prepayment model; Settlement is in or
beyond the Delay Period.
Call Features: 10%
Goldman, Sachs & Co._________________________________________________________
<PAGE>
Price/Yield Table REPORT PRINT DATE : 05-JUN-96
Portfolio Name : AMRESCO REPORT PRINT TIME : 09:05:40
____________________________________________________________________________
Class : A7
Coupon : 8.10000 Payment Period : MONTHLY
Settlement Date : 06/12/96
Stated Maturity Date : N/A Accrual Bond : NO
Accrual Start Date : 06/01/96
Original Balance : $ 26,276,000.00 Days Delay : 24
Last Payment Date : NEW BOND
Current Balance : $ 26,276,000.00
Next Payment Date : 07/25/96
_____________________________________________________________________________
<TABLE>
<CAPTION>
Prepay speeds ramp from 0% to X% CPR linearly over 10 months, based on the age of the loan.
<S> <C> <C> <C> <C> <C> <C> <C>
GRP I 15% 18% 20% 21% 22% 24% 28%
GRP II 21% 21% 21% 21% 21% 21% 21%
</TABLE>
<TABLE>
<CAPTION>
PRICE
(32nds) YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR YIELD DUR
- --------- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ -----
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.27 8.188 7.60 8.183 6.92 8.179 6.53 8.178 6.34 8.176 6.18 8.172 5.85 8.166 5.31
99.27+ 8.185 8.180 8.177 8.175 8.173 8.170 8.163
99.28 8.183 8.178 8.174 8.173 8.171 8.167 8.160
99.28+ 8.181 8.176 8.172 8.170 8.168 8.164 8.157
99.29 8.179 7.60 8.174 6.93 8.170 6.53 8.168 6.34 8.166 6.18 8.162 5.85 8.154 5.31
99.29+ 8.177 8.171 8.167 8.165 8.163 8.159 8.151
99.30 8.175 8.169 8.165 8.163 8.161 8.156 8.148
99.30+ 8.173 8.167 8.163 8.160 8.158 8.154 8.145
99.31 8.171 7.60 8.165 6.93 8.160 6.53 8.158 6.34 8.156 6.18 8.151 5.85 8.142 5.31
99.31+ 8.169 8.162 8.158 8.155 8.153 8.148 8.139
100.00 8.167 8.160 8.155 8.153 8.151 8.146 8.136
100.00+ 8.165 8.158 8.153 8.150 8.148 8.143 8.133
100.01 8.163 7.60 8.156 6.93 8.151 6.53 8.148 6.34 8.146 6.18 8.140 5.85 8.131 5.31
100.01+ 8.161 8.153 8.148 8.146 8.143 8.138 8.128
100.02 8.159 8.151 8.146 8.143 8.141 8.135 8.125
100.02+ 8.157 8.149 8.143 8.141 8.138 8.133 8.122
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
FIRST PAY 07/25/08 08/25/06 08/25/05 03/25/05 10/25/04 01/25/04 11/25/02
AVG. LIFE 12.44 10.68 9.75 9.32 8.98 8.30 7.25
FINAL MAT 11/25/08 02/25/07 03/25/06 10/25/05 06/25/05 10/25/04 10/25/03
</TABLE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to
sell or the solicitation of any offer to buy any security in any jurisdiction
where such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide
the material to any other person. The information contained in this material
may not pertain to any securities that will actually be sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected therein. We make no representations
regarding the reasonableness of such assumptions or the likelihood that any of
such assumptions will coincide with actual market conditions or events, and
this material should not be relied upon for such purposes. We and our
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to
time, have long or short positions in, and buy or sell, the securities
mentioned herein or derivatives thereof (including options). This material may
be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including
in cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information
contained in this material is current as of the date appearing on this
material only. Information in this material regarding the assets backing
any securities discussed herein supersedes all prior information regarding
such assets. Any information in the material, whether regarding the assets
backing any securities discussed herein or otherwise, will be superseded by
the information included in the final prospectus for any securities actually
sold to you. This material is furnished to you solely by Goldman, Sachs & Co.
and not by the issuer of the securities or any of its affiliates. Goldman,
Sachs & Co. is acting as underwriter and not acting as agent for the issuer or
its affiliates in connection with the proposed transaction. The issuer has not
prepared or taken part in the preparation of these materials.
Notes:
1. Yields and Modified Durations are Corporate Bond Equivalent. Yields are
calculated to call.
2. Current Balance is projected for each prepayment model; Settlement is in
or beyond the Delay Period.
Call Features: 10%
Goldman, Sachs & Co._______________________________________________________
<PAGE>
Price/Margin Table REPORT PRINT DATE : 05-JUN-96
Portfolio Name : AMRESCO REPORT PRINT TIME : 14:11:17
___________________________________________________________________________
Class : A8
Coupon : 1MO LIBOR + 34bps Payment Period : MONTHLY
Settlement Date : 06/12/96
Stated Maturity Date : N/A Accrual Bond : NO
Accrual Start Date : 06/25/96
Original Balance : $ 42,175,000.00 Days Delay : 0
Last Payment Date : NEW BOND
Current Balance : $ 42,175,000.00
Next Payment Date : 07/25/96
____________________________________________________________________________
Coupon is paid on a 330/360 basis (not actual/360) and margins are calculated
on a 30/360 basis.
<TABLE>
<CAPTION>
Prepay speeds ramp from 0% to X% CPR linearly over 10 months, based on the age of the loan.
<S> <C> <C> <C> <C> <C> <C> <C>
GRP I 21% 21% 21% 21% 21% 21% 21%
GRP II 15% 18% 20% 21% 22% 24% 28%
</TABLE>
<TABLE>
<CAPTION>
PRICE
(32nds) MARGIN DUR MARGIN DUR MARGIN DUR MARGIN DUR MARGIN DUR MARGIN DUR MARGIN DUR
- --------- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ ----- ------ -----
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.30 0.3554 3.93 0.3571 3.52 0.3584 3.28 0.3590 3.18 0.3596 3.08 0.3608 2.90 0.3634 2.58
99.30+ 0.3515 0.3528 0.3537 0.3542 0.3546 0.3556 0.3575
99.31 0.3476 0.3485 0.3491 0.3494 0.3497 0.3503 0.3516
99.31+ 0.3437 0.3441 0.3444 0.3446 0.3447 0.3450 0.3456
100.00 0.3398 3.93 0.3398 3.52 0.3398 3.28 0.3398 3.18 0.3398 3.08 0.3398 2.90 0.3397 2.58
100.00+ 0.3359 0.3355 0.3351 0.3350 0.3348 0.3345 0.3338
100.01 0.3321 0.3311 0.3305 0.3302 0.3299 0.3292 0.3279
100.01+ 0.3282 0.3268 0.3259 0.3254 0.3249 0.3240 0.3220
100.02 0.3243 3.93 0.3225 3.52 0.3212 3.29 0.3206 3.18 0.3200 3.09 0.3187 2.90 0.3161 2.58
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
FIRST PAY 07/25/96 07/25/96 07/25/96 07/25/96 07/25/96 07/25/96 07/25/96
AVG. LIFE 4.92 4.34 4.00 3.86 3.73 3.47 3.04
FINAL MAT 06/25/06 02/25/06 11/25/05 10/25/05 10/25/05 08/25/05 06/25/05
</TABLE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction
where such an offer or solicitation would be illegal. This material is based
on information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide
the material to any other person. The information contained in this material
may not pertain to any securities that will actually be sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected therein. We make no representations
regarding the reasonableness of such assumptions or the likelihood that any
of such assumptions will coincide with actual market conditions or events,
and this material should not be relied upon for such purposes. We and our
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to
time, have long or short positions in, and buy or sell, the securities
mentioned herein or derivatives thereof (including options). This material may
be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including
in cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information
contained in this material is current as of the date appearing on this
material only. Information in this material regarding the assets backing
any securities discussed herein supersedes all prior information regarding
such assets. Any information in the material, whether regarding the assets
backing any securities discussed herein or otherwise, will be superseded by
the information included in the final prospectus for any securities actually
sold to you. This material is furnished to you solely by Goldman, Sachs & Co.
and not by the issuer of the securities or any of its affiliates. Goldman,
Sachs & Co. is acting as underwriter and not acting as agent for the issuer
or its affiliates in connection with the proposed transaction. The issuer
has not prepared or taken part in the preparation of these materials.
1. Yields and Modified Durations are Corporate Bond Equivalent. Yields are
calculated to call.
2. Current Balance is projected for each prepayment model; Settlement is in
or beyond the Delay Period.
Call Features: 10% Call
Goldman, Sachs & Co._________________________________________________________
