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) July 15, 1996
SOUTHERN PACIFIC SECURED ASSETS CORP. (as seller under a Pooling and Servicing
Agreement dated as of May 8, 1996 providing for, inter alia, the issuance of
Mortgage Pass- Through Certificates, Series 1996-2)
SOUTHERN PACIFIC SECURED ASSETS CORP.
(Exact name of registrant as specified in its charter)
CALIFORNIA 333-3197 33-0659688
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
One Centerpointe Drive, Suite 500
LAKE OSWEGO, OREGON 97035
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code, is (909) 788-7808
<PAGE>
Item 2. ACQUISITION OR DISPOSITION OF ASSETS
On July 15, 1996 following the closing of the initial issuance of the
Series 1996-2 Certificates, pursuant to the Pooling and Servicing Agreement,
dated as of May 8, 1996 (the "Agreement") among Southern Pacific Secured Assets
Corp. (the "Company"), Advanta Mortgage Corp. USA and Bankers Trust Company of
California, N.A. (the "Trustee"), the Trustee purchased from the Company certain
Subsequent Mortgage Loans, as defined in the Agreement, with an aggregate
principal balance equal to $39,356,160.60 with funds on deposit in the
pre-funding accounts established pursuant to the Agreement at a purchase price
equal to the principal balance thereof, which Subsequent Mortgage Loans were
conveyed to the Trustee pursuant to a Subsequent Transfer Instrument, dated July
15, 1996, between the Company and the Trustee (the "Instrument"). Attached to
the Instrument is the Mortgage Loan Schedule listing the Subsequent Mortgage
Loans that are the subject of such Instrument.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
Item 601(a) of
Regulation S-K
EXHIBIT NO. EXHIBIT NO. DESCRIPTION
- ----------- ----------- -----------
1 99.1 Subsequent Transfer Instrument, dated
as of July 15, 1996 between Southern
Pacific Secured Assets Corp. as
seller, and Bankers Trust Company of
California, N.A., as trustee.
<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.
SOUTHERN PACIFIC SECURED ASSETS
CORP.
By: /s/ Gary Palmer
----------------------
Name: Gary Palmer
Title: Director
Dated: July 15, 1996
<PAGE>
EXHIBIT INDEX
-------------
EXHIBIT NO. DESCRIPTION PAGE
----------- ----------- ----
1 Subsequent Transfer Instrument 5
EXHIBIT 99.1
------------
SUBSEQUENT TRANSFER INSTRUMENT
Pursuant to this Subsequent Transfer Instrument (the "Instrument"),
dated July 15, 1996, between Southern Pacific Secured Assets Corp., as seller
(the "Company"), and Bankers Trust Company of California, N.A., as Trustee of
the Southern Pacific Secured Assets Corp. Mortgage Pass-Through Certificates,
Series 1996-2, as purchaser (the "Purchaser"), and pursuant to the Pooling and
Servicing Agreement, dated as of May 8, 1996, among the Company, as company,
Advanta Mortgage Corp. USA, as master servicer, and the Trustee, as trustee (the
"Pooling and Servicing Agreement"), the Company and the Purchaser agree to the
sale by the Company and the purchase by the Purchaser of the Mortgage Loans
listed on the attached Schedule of Mortgage Loans (the "Subsequent Mortgage
Loans").
Capitalized terms used and not defined herein have their respective
meanings as set forth in the Pooling and Servicing Agreement.
Section 1. CONVEYANCE OF SUBSEQUENT MORTGAGE LOANS.
(a) The Company does hereby sell, transfer, assign, set over and
convey to the Purchaser, without recourse, all of its right, title and interest
in and to the Subsequent Mortgage Loans, and including all principal received
and interest accruing on the Subsequent Mortgage Loans on and after the related
Subsequent Cut-Off Date, and all items with respect to the Subsequent Mortgage
Loans to be delivered pursuant to Section 2.03 of the Pooling and Servicing
Agreement; provided, however, that the Company reserves and retains all right,
title and interest in and to principal (including Prepayments and Curtailments)
received and interest accruing on the Subsequent Mortgage Loans prior to the
related Subsequent Cut-off Date. The Company, contemporaneously with the
delivery of this Agreement, has delivered or caused to be delivered to the
Trustee each item set forth in Section 2.03 of the Pooling and Servicing
Agreement. The transfer to the Trustee by the Company of the Subsequent Mortgage
Loans identified on the Mortgage Loan Schedule shall be absolute and is intended
by the Company, the Servicer, the Trustee and the Certificateholders to
constitute and to be treated as a sale by the Company.
(b) The expenses and costs relating to the delivery of the
Subsequent Mortgage Loans, this Instrument and the Pooling and Servicing
Agreement shall be borne by the Company.
(c) Additional terms of the sale are set forth on Attachment A
hereto.
Section 2. REPRESENTATIONS AND WARRANTIES; CONDITIONS PRECEDENT.
(a) The Company hereby affirms the representations and warranties
set forth in Section 3.03 of the Pooling and Servicing Agreement that relate to
the Subsequent Mortgage
<PAGE>
Loans as of the date hereof. The Company hereby confirms that each of the
conditions set forth in Section 2.08(b) of the Pooling and Servicing Agreement
are satisfied as of the date hereof.
(b) All terms and conditions of the Pooling and Servicing Agreement
are hereby ratified and confirmed; provided, however, that in the event of any
conflict the provisions of this Instrument shall control over the conflicting
provisions of the Pooling and Servicing Agreement.
Section 3. RECORDATION OF INSTRUMENT.
To the extent permitted by applicable law, this Instrument, or a
memorandum thereof if permitted under applicable law, is subject to recordation
in all appropriate public offices for real property records in all of the
counties or other comparable jurisdictions in which any or all of the properties
subject to the Mortgages are situated, and in any other appropriate public
recording office or elsewhere, such recordation to be effected by the Servicer
at the Certificateholders' expense on direction of the Majority
Certificateholders, but only when accompanied by an Opinion of Counsel to the
effect that such recordation materially and beneficially affects the interests
of the Certificateholders or is necessary for the administration or servicing of
the Mortgage Loans.
Section 4. GOVERNING LAW.
This Instrument shall be construed in accordance with the laws of
the State of New York and the obligations, rights and remedies of the parties
hereunder shall be determined in accordance with such laws, without giving
effect to principles of conflicts of law.
Section 5. COUNTERPARTS.
This Instrument may be executed in one or more counterparts and by
the different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original; such counterparts, together, shall
constitute one and the same instrument.
<PAGE>
Section 6. SUCCESSORS AND ASSIGNS.
This Instrument shall inure to the benefit of and be binding upon
the Company and the Purchaser and their respective successors and assigns.
SOUTHERN PACIFIC SECURED ASSETS
CORP.
By: /s/ Gary Palmer
-----------------------
Name: Gary Palmer
Title: Director
SOUTHERN PACIFIC SECURED ASSETS
CORP., MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 1996-2
By: BANKERS TRUST COMPANY OF
CALIFORNIA, N.A.,
as Trustee
By: /s/ Gary R. Vaughan
---------------------------
Name: Gary R. Vaughan
Title: Assistant Vice President
ATTACHMENTS
- -----------
A. Additional terms of the sale.
B. Schedule of Subsequent Mortgage Loans.
C. Opinions of Company's counsel (bankruptcy, corporate).
D. Company's Officer's certificate.
E. Trustee's Certificate.
F. Opinion of Trustee's Counsel.
<PAGE>
SOUTHERN PACIFIC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 1996-2
ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT
Series 1996-2
July 15, 1996
Group I
A.
1. Subsequent Cut-off Date: July 1, 1996
2. Subsequent Transfer Date: July 15, 1996
3. Aggregate Principal Balance of the Subsequent Mortgage Loans as of the
Subsequent Cut-off Date: $14,996,252.37
4. Purchase Price: 100.00%
B.
As to all the Subsequent Mortgage Loans the subject of this Instrument:
1. Longest stated term to maturity: 360 months
2. Minimum Mortgage Rate: 9.00%
3. Maximum Mortgage Rate: 12.75%
4. WAC of all Mortgage Loans: 9.650%
5. WAM of all Mortgage Loans: 358 months
6. Balloon Loans: 0.00%
7. Largest Principal Balance: $600,000
8. Non-owner occupied Mortgaged Properties: 13.262%
9. California zip code concentration: 4.550%
10. Condominiums: 0.837%
11. Single-family: 29.341%
12. Weighted average term since origination: 6.14 months
13. First payment date:
April 1996 1.437%
May 1996 8.124%
June 1996 8.899%
July 1996 78.091%
August 1996 3.449%
<PAGE>
SOUTHERN PACIFIC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 1996-2
ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT
Series 1996-2
July 15, 1996
Group II
A.
1. Subsequent Cut-off Date: July 1, 1996
2. Subsequent Transfer Date: July 15, 1996
3. Aggregate Principal Balance of the Subsequent Mortgage Loans as of the
Subsequent Cut-off Date: $24,359,908.23
4. Purchase Price: 100.00%
B.
As to all the Subsequent Mortgage Loans the subject of this Instrument:
1. Longest stated term to maturity: 360 months
2. Minimum Mortgage Rate: 9.75%
3. Maximum Mortgage Rate: 16.125%
4. WAC of all Mortgage Loans: 11.403%
5. WAM of all Mortgage Loans: 338 months
6. Balloon Loans: 0.271%
7. Largest Principal Balance: $468,000
8. Non-owner occupied Mortgaged Properties: 11.659%
9. California zip code concentration: 5.32%
10. Condominiums: 2.220%
11. Single-family: 93.387%
12. Weighted average term since origination: 2.371 months
13. First payment date:
December 1, 1995 0.898%
December 18, 1995 0.139%
March 1, 1996 0.338%
April 25, 1996 0.182%
May 1, 1996 0.272%
May 24, 1996 0.091%
June 1, 1996 4.684%
July 1, 1996 55.892%
August 1, 1996 37.504%
<PAGE>
SOUTHERN PACIFIC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 1996-2
ATTACHMENT B TO SUBSEQUENT TRANSFER INSTRUMENT
Series 1996-2
July 15, 1996
<TABLE>
<CAPTION>
SOUTHERN PACIFIC SECURED ASSETS CORP. , SERIES 1996-2
Group I Pre-Funded Account
LOANID NAME ADDRESS CITY STATE ZIP COUNTY
- ------ ---- ------- ---- ----- --- ------
<S> <C> <C> <C> <C> <C> <C>
800602486 EMBERNATE, SR. 45-571 PAKALANA STREET HONOKAA HI 96727 HAWAII
800602561 KUDO 15-2720 & 15-2720-A KAKU STREET PAHOA HI 96778 HAWAII
900600846 CRUMPLER 12289 E. CLINTON AVENUE SANGER CA 93657 FRESNO
1700600272 BLANCETT 7200 HIGHWAY 234 CENTRAL POINT OR 97502 JACKSON
600601378 JONES 7847 KIMBALL AVENUE UNICORP OF CHINO CA 91710 SAN BERNARDINO
800602393 CHRISTENSEN 1061 NORTH 1250 EAST LAYTON UT 84040 DAVIS
800602518 RUBIDOUX 540 N. 3RD STREET & 585 W. F STREET COLTON CA 92324 SAN BERNARDINO
1000600022 AUTTIER 4335 JENNIE WAY MEDFORD OR 97504 JACKSON
1700600348 NYE 27418 137TH STREET SOUTHEAST MONROE WA 98272 SNOHOMISH
1700600358 POTTER 3040 SOUTHEAST CONCEPT LANE PORT ORCHARD WA 98366 KITSAP
1700600477 REED 1436 36TH AVENUE NORTHEAST OLYMPIA WA 98506 THURSTON
3000600188 VALENTINE 3992 TOMLINSON AVENUE RIVERSIDE CA 92503 RIVERSIDE
3000600232 MILLER 1186 BOTTLETREE WAY HEMET CA 92545 RIVERSIDE
3000600235 MORRIS 10321 BEACH STREET LOS ANGELES CA 90002 LOS ANGELES
3000600241 WASHINGTON 3725 E. HOWE STREET TACOMA WA 98405 PIERCE
600601431 RAWAL 7605 ANGEL VIEW TERRACE ORANGE CA 92669 ORANGE
3000600257 MAHAFFY 8565 BROOKFIELD DRIVE RIVERSIDE CA 92509 RIVERSIDE
100600582 HAMILTON 14900 ANNE LAKE ROAD DEERWOOD MN 56444 CROW WING
100600745 MICALLEF 1544 TWIN SPRINGS ROAD HOULTON WI 54082 ST. CROIX
200601814 HARDY 413 LASHLEY STREET LONGMONT CO 80501 BOULDER
300602550 KREIER 4500 NE 248TH AVE. VANCOUVER WA 98682 CLARK
600601287 HUNTER 5719 SOUTH GRAMERCY PLACE LOS ANGELES CA 90062 LOS ANGELES
600601429 BRADY 8551 CALIFORNIA AVENUE WHITTIER CA 90605 LOS ANGELES
700601342 KEITH 906 PATTON DRIVE SILVER SPRING MD 20901 MONTGOMERY
800602566 NIELSEN 2269 NORTH 700 WEST HARRISVILLE UT 84414 WEBER
900600722 DE FOE 315 EAST BROWN AVENUE FRESNO CA 93704 FRESNO
1700600189 BAKER 1002 EAST HARE ROAD DEER PARK WA 99006 SPOKANE
1700600401 DOUVIA 17116 NORTH RANCHETTE ROAD COLBERT WA 99005 SPOKANE
3000600173 DESROCHERS 21691 DARBY STREET WILDOMAR CA 92595 RIVERSIDE
3000600208 KATRENA 15052 SE PINEGROVE LOOP CLACKAMAS OR 97015 CLACKAMAS
3000600238 SNOW 4436 SOUTH 342ND STREET AUBURN WA 98001 KING
3000600252 BURR SR. 1331 CRESCENT AVE. CENTRALIA WA 98531 LEWIS
3000600255 HORINE 959 WEST HAWK WAY AMADO AZ 85645 PIMA
3000600305 ROBERSON 538 VENICE WAY INGLEWOOD CA 90302 LOS ANGELES
3000600323 BRADY 10812 2ND AVENUE S. SEATTLE WA 98168 KING
3000600363 TURNER 1013 MERTON AVENUE MODESTO CA 95351 STANISLAUS
3000600185 THOMPSON 615 SOUTH 133RD STREET TACOMA WA 98444 PIERCE
1700600330 PETTY MILE 188 GLENN HIGHWAY GLENNALLEN AK 99588 VALDEZ CORDOVA
100600708 GODIN 21254 ST. FRANCIS FARMINGTON HILLS MI 48336 OAKLAND
200601679 REED 1699 SOUTH TRENTON STREET DENVER CO 80231 DENVER
200601907 BLAKESLEY 8615 EAST 78TH TERRACE KANSAS CITY MO 64138 JACKSON
200601913 BUSTAMANTE 1777 LARIMER STREET DENVER CO 80202 DENVER
200601919 BUSTAMANTE 1777 LARIMER STREET DENVER CO 80202 DENVER
200601923 BUSTAMANTE 1777 LARIMER STREET DENVER CO 80202 DENVER
200602003 CLYMER 7171 NORTH 63RD STREET LONGMONT CO 80503 BOULDER
300602404 CRITES,SR. 3503 SE SPRING DR HILLSBORO OR 97123 WASHINGTON
500600685 DAVIES 1433 EAST 74TH STREET LOS ANGELES AREA CA 90001 LOS ANGELES
500600765 ROSENFELD 11500 SAN VICENTE BOULEVARD LOS ANGELES CA 90049 LOS ANGELES
500600769 ROSENFELD 11500 SAN VICENTE BOULEVARD LOS ANGELES CA 90049 LOS ANGELES
600601321 LINDSEY 8539 LA MADRINA DRIVE SOUTH SAN GABRIEL CA 91770 LOS ANGELES
700601258 HORRELL 917 TIMBER LANE VIENNA VA 22180 FAIRFAX
700601263 FAISON 3528 CARPENTER STREET, S.E. WASHINGTON DC 20020 DIS OF CLOUMBI
700601269 SANDERS 1441 MIDDLE WAY ARNOLD MD 21012 ANNE ARUNDEL
703301195 REICH 7527 BRADLEY BOULEVARD BETHESDA MD 20817 MONTGOMERY
800602462 CABALDON 308 KULIOUOU ROAD HONOLULU HI 96821 HONOLULU
1000600040 ANDERSON 170 PINE RIDGE DRIVE GRANTS PASS OR 97527 JOSEPHINE
2000600013 DONAHUE 112 HASWILL STREET WARWICK RI 2886 PROVIDENCE
3000600179 ALLEN 1035 GARNET ST. NE SALEM OR 97301 MARION
3000600204 BOX 2554 DUKE AVENUE RICHMOND CA 94806 CONTRA COSTA
603301505 SMITH 1119 E. HELMICK STREET CARSON CA 90746 LOS ANGELES
800602534 ROBERTS 2892 NORTH F" STREET" SAN BERNARDINO CA 92405 SAN BERNARDINO
3000600216 WELCH 4527 VIRGIL STREET STOCKTON CA 95215 SAN JOAQUIN
3000600328 CLEMENT II 19702 SOLANO PLACE COVINA CA 91724 LOS ANGELES
3000600336 WORD 1640-1640 1/2 E. 122ND STREET LOS ANGELES CA 90059 LOS ANGELES
3000600394 MADOLE 7556 BUCKWHEAT ROAD WRIGHTWOOD CA 92397 SAN BERNARDINO
3000600620 DELANZO 1359 KNOLL DRIVE OCEANSIDE CA 92054 SAN DIEGO
3000600647 TURNER 22125 POST ROAD PERRIS CA 92570 RIVERSIDE
100600536 LANGMADE 11812 ZEA STREET NORTHWEST COON RAPIDS MN 55448 ANOKA
100600820 BLENDEN ROUTE 5, BOX 735 PONCA CITY OK 74601 KAY
200601958 COLLING 42309 COUNTY ROAD 49 KIOWA CO 80117 ELBERT
300602499 FAIRFIELD 72974 LONDON RD COTTAGE GROVE OR 97424 LANE
500600508 WYATT 382 TRINITY COURT TULARE CA 93274 TULARE
500600790 BOUGHER 29413 PLYMOUTH ROAD CASTAIC AREA CA 91384 LOS ANGELES
700601260 VAN REES 1000 JEFF RYAN DRIVE HERNDON VA 22070 FAIRFAX
800602492 DOMINGO 8629 KIOWEA ROAD KEKAHA HI 96752 KAUAI
800602558 KUDO 15-2718 & 15-2718-A KAKU STREET PAHOA HI 96778 HAWAII
900600842 AKESON 4105 PALOMAR DRIVE ANTIOCH CA 94509 CONTRA COSTA
900600939 MAGRAY 5955 E. LIBERTY COURT WASILLA AK 99654 MATANUSKA
900600978 DUFEXIS 1036 MALONE ROAD SAN JOSE CA 95125 SANTA CLARA
1000600033 VARLEY 215 N. CHURCH STREET PHOENIX OR 97535 JACKSON
300602472 THOMPSON 3110 S.W. IDAHO STREET PORTLAND OR 97201 MULTNOMAH
300602516 ROSKE 12391 SOUTH OAK GROVE ROAD CANBY OR 97013 CLACKAMAS
600601257 JOHNSON, SR. 420 & 430 BOARDWALK COTTAGE GROVE OR 97424 LANE
800602446 BELCHER 8670 45TH STREET RIVERSIDE CA 92509 RIVERSIDE
1000600028 BERRY 725 INDIANA STREET ASHLAND OR 97520 JACKSON
3000600640 MAGNUSON 12864 MIRADO AVENUE GRAND TERRACE CA 92313 SAN BERNARDINO
100600791 KNOX 2925-2927 ALDRICH AVENUE NORTH MINNEAPOLIS MN 55411 HENNEPIN
200601697 LUBY 3 VIA ENTRADA SANDIA PARK NM 87047 SANDOVAL
500600753 LUONG 737 WEST SHARON ROAD ARCADIA CA 91007 LOS ANGELES
600601353 REED 57013 ABBOT DRIVE SUNRIVER OR 97707 DESCHUTES
900601004 FELD 119 PARADISE DRIVE TIBOURON CA 94941 MARIN
3000600356 DEL CARLO 3474 LA MESA DRIVE SAN CARLOS CA 94070 SAN MATEO
300602443 WILLEFORD 11490 BUCKHORN ROAD GLIDE OR 97443 DOUGLAS
200601772 LAMBERT 6243 SOUTH NIAGARA WAY ENGLEWOOD CO 80111 ARAPAHOE
800602268 HOTH 1045 SOUTH 1200 WEST#9,10.11,12 OGDEN UT 84404 WEBER
1700600322 MENTZOS 20507 133RD STREET NORTHEAST GRANITE FALLS WA 98252 SNOHOMISH
3000600351 SANDOVAL 153 CLAIR COURT BANNING CA 92220 RIVERSIDE
200601715 DAVIS 1339 EAST 79TH STREET KANSAS CITY MO 64131 JACKSON
200601764 DAVIS 49915 COUNTY ROAD 129 STEAMBOAT SPRINGS CO 80487 ROUTT
300602432 LITTLE 3632 NORTH FARRAGUT STREET PORTLAND OR 97217 MULTNOMAH
800602496 SPARKS 37 FLORA STREET HILLSIDE TERRACE LA VERKIN UT 84745 WASHINGTON
900600881 ARIAS 173 MOSS LANE NAPA CA 94588 NAPA
3000600650 WRIGHT 831 4TH AVE. MILL CITY OR 97360 LINN
3000600267 ROGERS 4200 180TH ST. S.W. TACOMA WA 98498 PIERCE
100600523 HAYDEN 757 WILLOW RUN STREET COTTAGE GROVE WI 53527 DANE
800602231 PRIETO 3738 SOUTH GRANGER DRIVE WEST VALLEY CITY UT 84119 SALT LAKE
3000600198 DAL CHELE 5332 BUFFALO AVENUE LOS ANGELES CA 91401 LOS ANGELES
200601598 CLEMETSON 4376 EAST GREENLAND ROAD LARKSPUR CO 80118 DOUGLAS
600601405 MORRIS 42615 212TH AVENUE S.E. ENUMCLAW WA 98022 KING
LOANID NAME OWNOCC LOANPURP PROPTYPE PMICODE LOANTYPE RATETYPE
- ------ ---- ------ -------- -------- ------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
800602486 EMBERNATE, SR. OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
800602561 KUDO OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
900600846 CRUMPLER OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
1700600272 BLANCETT OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
600601378 JONES OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
800602393 CHRISTENSEN OO R CONDO 0 30-YR. NON-CONFORMING LIBOR 3
800602518 RUBIDOUX NOO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
1000600022 AUTTIER OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
1700600348 NYE OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
1700600358 POTTER OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
1700600477 REED OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600188 VALENTINE OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600232 MILLER OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600235 MORRIS NOO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600241 WASHINGTON OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
600601431 RAWAL OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600257 MAHAFFY OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
100600582 HAMILTON OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
100600745 MICALLEF OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
200601814 HARDY OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
300602550 KREIER OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
600601287 HUNTER OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
600601429 BRADY OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
700601342 KEITH OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
800602566 NIELSEN OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
900600722 DE FOE OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
1700600189 BAKER OO R 2-4 FAMILY 0 INT. TERM NON-CONFORMING LIBOR 3
1700600401 DOUVIA OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600173 DESROCHERS NOO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600208 KATRENA OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600238 SNOW OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600252 BURR SR. OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600255 HORINE OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600305 ROBERSON OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600323 BRADY OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600363 TURNER OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600185 THOMPSON OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
1700600330 PETTY OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
100600708 GODIN OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
200601679 REED OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
200601907 BLAKESLEY OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
200601913 BUSTAMANTE NOO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
200601919 BUSTAMANTE NOO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
200601923 BUSTAMANTE NOO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
200602003 CLYMER OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
300602404 CRITES,SR. OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
500600685 DAVIES NOO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
500600765 ROSENFELD NOO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
500600769 ROSENFELD NOO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
600601321 LINDSEY OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
700601258 HORRELL OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
700601263 FAISON OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
700601269 SANDERS OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
703301195 REICH OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
800602462 CABALDON OO R 2-4 FAMILY 0 INT. TERM NON-CONFORMING LIBOR 3
1000600040 ANDERSON OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
2000600013 DONAHUE OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600179 ALLEN OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600204 BOX OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
603301505 SMITH OO R 2-4 FAMILY 0 INT. TERM NON-CONFORMING LIBOR 3
800602534 ROBERTS NOO R 2-4 FAMILY 0 INT. TERM NON-CONFORMING LIBOR 3
3000600216 WELCH OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600328 CLEMENT II OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600336 WORD OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600394 MADOLE OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600620 DELANZO OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
3000600647 TURNER OO R 2-4 FAMILY 0 INT. TERM NON-CONFORMING LIBOR 3
100600536 LANGMADE OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
100600820 BLENDEN OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
200601958 COLLING OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
300602499 FAIRFIELD OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
500600508 WYATT OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
500600790 BOUGHER OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
700601260 VAN REES OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
800602492 DOMINGO OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
800602558 KUDO NOO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
900600842 AKESON NOO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
900600939 MAGRAY OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
900600978 DUFEXIS OO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
1000600033 VARLEY NOO R 2-4 FAMILY 0 INT. TERM NON-CONFORMING LIBOR 3
300602472 THOMPSON OO R 2-4 FAMILY 0 INT. TERM NON-CONFORMING LIBOR 3
300602516 ROSKE OO P 2-4 FAMILY 0 INT. TERM NON-CONFORMING LIBOR 3
600601257 JOHNSON, SR. OO P 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
800602446 BELCHER OO R 2-4 FAMILY 0 INT. TERM NON-CONFORMING LIBOR 3
1000600028 BERRY OO R 2-4 FAMILY 0 INT. TERM NON-CONFORMING LIBOR 3
3000600640 MAGNUSON OO R 2-4 FAMILY 0 INT. TERM NON-CONFORMING LIBOR 3
100600791 KNOX NOO R 2-4 FAMILY 0 30-YR. NON-CONFORMING LIBOR 3
200601697 LUBY OO R PUD 0 30-YR. NON-CONFORMING LIBOR 3
500600753 LUONG OO P SFR 0 30-YR. NON-CONFORMING LIBOR 3
600601353 REED NOO R CONDO 0 30-YR. NON-CONFORMING LIBOR 3
900601004 FELD OO P SFR 0 INT. TERM NON-CONFORMING LIBOR 3
3000600356 DEL CARLO OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
300602443 WILLEFORD OO R SFR 0 INT. TERM NON-CONFORMING LIBOR 3
200601772 LAMBERT OO P SFR 0 30-YR. NON-CONFORMING LIBOR 3
800602268 HOTH NOO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
1700600322 MENTZOS OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
3000600351 SANDOVAL NOO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
200601715 DAVIS NOO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
200601764 DAVIS OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
300602432 LITTLE OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
800602496 SPARKS OO P PUD 0 30-YR. NON-CONFORMING LIBOR 3
900600881 ARIAS NOO P SFR 0 30-YR. NON-CONFORMING LIBOR 3
3000600650 WRIGHT OO R SFR 0 INT. TERM NON-CONFORMING LIBOR 3
3000600267 ROGERS OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
100600523 HAYDEN OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
800602231 PRIETO OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
3000600198 DAL CHELE OO P SFR 0 30-YR. NON-CONFORMING LIBOR 3
200601598 CLEMETSON OO R SFR 0 30-YR. NON-CONFORMING LIBOR 3
600601405 MORRIS OO P SFR 0 30-YR. NON-CONFORMING LIBOR 3
LOANID NAME AMTYPE UNITS ORIGTERM AMTERM LTV NOTEDATE FPDATE MTDATE
- ------ ---- ------ ----- -------- ------ --- -------- ------ ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
800602486 EMBERNATE, SR. 2 1 360 360 75 5/7/96 7/1/96 6/1/26
800602561 KUDO 2 2 360 360 67.8 5/14/96 7/1/96 6/1/26
900600846 CRUMPLER 2 1 360 360 84.88 5/8/96 7/1/96 6/1/26
1700600272 BLANCETT 2 0 360 360 70 5/14/96 7/1/96 6/1/26
600601378 JONES 2 1 360 360 54.55 5/14/96 7/1/96 6/1/26
800602393 CHRISTENSEN 2 1 360 360 80 5/22/96 7/1/96 6/1/26
800602518 RUBIDOUX 2 2 360 360 75 5/14/96 7/1/96 6/1/26
1000600022 AUTTIER 2 1 360 360 80 5/3/96 7/1/96 6/1/26
1700600348 NYE 2 1 360 360 70 5/15/96 7/1/96 6/1/26
1700600358 POTTER 2 1 360 360 80 5/20/96 7/1/96 6/1/26
1700600477 REED 2 1 360 360 62.5 5/17/96 7/1/96 6/1/26
3000600188 VALENTINE 2 0 360 360 75 3/21/96 5/1/96 4/1/26
3000600232 MILLER 2 0 360 360 45.46 4/8/96 6/1/96 5/1/26
3000600235 MORRIS 2 0 360 360 65 3/28/96 6/1/96 5/1/26
3000600241 WASHINGTON 2 0 360 360 75 4/5/96 6/1/96 5/1/26
600601431 RAWAL 2 1 360 360 74.63 5/23/96 7/1/96 6/1/26
3000600257 MAHAFFY 2 0 360 360 75 4/15/96 6/1/96 5/1/26
100600582 HAMILTON 2 1 360 360 75 5/23/96 7/1/96 6/1/26
100600745 MICALLEF 2 1 360 360 85 5/29/96 7/1/96 6/1/26
200601814 HARDY 2 1 360 360 80 5/30/96 7/1/96 6/1/26
300602550 KREIER 2 1 360 360 90 5/24/96 7/1/96 6/1/26
600601287 HUNTER 2 1 360 360 90 5/7/96 7/1/96 6/1/26
600601429 BRADY 2 0 360 360 90 5/20/96 7/1/96 6/1/26
700601342 KEITH 2 1 360 360 75 6/5/96 8/1/96 7/1/26
800602566 NIELSEN 2 1 360 360 80 5/17/96 7/1/96 6/1/26
900600722 DE FOE 2 1 360 360 80 5/2/96 7/1/96 6/1/26
1700600189 BAKER 2 1 360 360 65 5/23/96 7/1/96 6/1/26
1700600401 DOUVIA 2 1 360 360 76.93 5/22/96 7/1/96 6/1/26
3000600173 DESROCHERS 2 0 360 360 65 3/26/96 6/1/96 5/1/26
3000600208 KATRENA 2 0 360 360 80 3/22/96 5/1/96 4/1/26
3000600238 SNOW 2 0 360 360 75 4/9/96 6/1/96 5/1/26
3000600252 BURR SR. 2 0 360 360 50 4/1/96 6/1/96 5/1/26
3000600255 HORINE 2 0 360 360 56.25 4/17/96 6/1/96 5/1/26
3000600305 ROBERSON 2 0 360 360 80 2/23/96 4/1/96 3/1/26
3000600323 BRADY 2 0 360 360 79.42 2/29/96 5/1/96 4/1/26
3000600363 TURNER 2 0 360 360 70 3/18/96 5/1/96 4/1/26
3000600185 THOMPSON 2 0 360 360 70 1/0/00 5/1/96 4/1/26
1700600330 PETTY 2 1 360 360 65 5/6/96 7/1/96 6/1/26
100600708 GODIN 2 1 360 360 80 5/24/96 7/1/96 6/1/26
200601679 REED 2 1 360 360 80 5/23/96 7/1/96 6/1/26
200601907 BLAKESLEY 2 1 360 360 85 5/24/96 7/1/96 6/1/26
200601913 BUSTAMANTE 2 1 360 360 65 5/29/96 7/1/96 6/1/26
200601919 BUSTAMANTE 2 1 360 360 60 5/29/96 7/1/96 6/1/26
200601923 BUSTAMANTE 2 1 360 360 65 5/29/96 7/1/96 6/1/26
200602003 CLYMER 2 1 360 360 80 5/30/96 7/1/96 6/1/26
300602404 CRITES,SR. 2 1 360 360 78.86 5/24/96 7/1/96 6/1/26
500600685 DAVIES 2 1 360 360 70 5/23/96 7/1/96 6/1/26
500600765 ROSENFELD 2 1 360 360 65 5/21/96 7/1/96 6/1/26
500600769 ROSENFELD 2 1 360 360 65 5/21/96 7/1/96 6/1/26
600601321 LINDSEY 2 1 360 360 70 5/13/96 7/1/96 6/1/26
700601258 HORRELL 2 1 360 360 63.14 5/30/96 7/1/96 6/1/26
700601263 FAISON 2 1 360 360 80 5/24/96 7/1/96 6/1/26
700601269 SANDERS 2 1 360 360 80 6/5/96 8/1/96 7/1/26
703301195 REICH 2 1 360 360 68.89 6/4/96 8/1/96 7/1/26
800602462 CABALDON 2 1 360 360 75 5/20/96 7/1/96 6/1/26
1000600040 ANDERSON 2 1 360 360 70 5/10/96 7/1/96 6/1/26
2000600013 DONAHUE 2 0 360 360 80 5/11/96 7/1/96 6/1/26
3000600179 ALLEN 2 0 360 360 70.4 4/1/96 6/1/96 5/1/26
3000600204 BOX 2 0 360 360 65 3/1/96 5/1/96 4/1/26
603301505 SMITH 2 1 360 360 85 5/21/96 7/1/96 6/1/26
800602534 ROBERTS 2 1 360 360 75 5/21/96 7/1/96 6/1/26
3000600216 WELCH 2 0 360 360 70 3/25/96 6/1/96 5/1/26
3000600328 CLEMENT II 2 0 360 360 37.32 3/12/96 5/1/96 4/1/26
3000600336 WORD 2 0 360 360 33.34 3/15/96 5/1/96 4/1/26
3000600394 MADOLE 2 0 360 360 65 3/22/96 5/1/96 4/1/26
3000600620 DELANZO 2 0 360 360 80 3/12/96 5/1/96 4/1/26
3000600647 TURNER 2 0 360 360 75 4/24/96 6/1/96 5/1/26
100600536 LANGMADE 2 14 360 360 79.95 5/29/96 7/1/96 6/1/26
100600820 BLENDEN 2 1 360 360 74.55 5/31/96 7/1/96 6/1/26
200601958 COLLING 2 1 360 360 80 5/24/96 7/1/96 6/1/26
300602499 FAIRFIELD 2 1 360 360 62.97 5/24/96 7/1/96 6/1/26
500600508 WYATT 2 1 360 360 75 5/22/96 7/1/96 6/1/26
500600790 BOUGHER 2 1 360 360 85 5/22/96 7/1/96 6/1/26
700601260 VAN REES 2 1 360 360 75 6/6/96 8/1/96 7/1/26
800602492 DOMINGO 2 1 360 360 80 5/7/96 7/1/96 6/1/26
800602558 KUDO 2 2 360 360 67.81 5/14/96 7/1/96 6/1/26
900600842 AKESON 2 1 360 360 75 5/8/96 7/1/96 6/1/26
900600939 MAGRAY 2 1 360 360 74.63 5/15/96 7/1/96 6/1/26
900600978 DUFEXIS 2 1 360 360 80 5/21/96 7/1/96 6/1/26
1000600033 VARLEY 2 1 360 360 75 5/10/96 7/1/96 6/1/26
300602472 THOMPSON 2 0 360 360 66.54 5/8/96 7/1/96 6/1/26
300602516 ROSKE 2 1 360 360 90 5/10/96 7/1/96 6/1/26
600601257 JOHNSON, SR. 2 2 360 360 75 5/2/96 7/1/96 6/1/26
800602446 BELCHER 2 1 360 360 90 5/8/96 7/1/96 6/1/26
1000600028 BERRY 2 1 360 360 80 5/7/96 7/1/96 6/1/26
3000600640 MAGNUSON 2 0 360 360 70 4/19/96 6/1/96 5/1/26
100600791 KNOX 2 2 360 360 59.34 5/22/96 7/1/96 6/1/26
200601697 LUBY 2 1 360 360 78.92 5/15/96 7/1/96 6/1/26
500600753 LUONG 2 1 360 360 80 5/17/96 7/1/96 6/1/26
600601353 REED 2 1 360 360 75 5/22/96 7/1/96 6/1/26
900601004 FELD 2 1 360 360 85 5/17/96 7/1/96 6/1/26
3000600356 DEL CARLO 2 0 360 360 66.04 3/20/96 5/1/96 4/1/26
300602443 WILLEFORD 2 1 360 360 58.47 5/7/96 7/1/96 6/1/26
200601772 LAMBERT 2 1 360 360 80 5/23/96 7/1/96 6/1/26
800602268 HOTH 2 0 360 360 80 5/10/96 7/1/96 6/1/26
1700600322 MENTZOS 2 1 360 360 75 5/21/96 7/1/96 6/1/26
3000600351 SANDOVAL 2 0 360 360 70 3/12/96 5/1/96 4/1/26
200601715 DAVIS 2 1 360 360 65 5/13/96 7/1/96 6/1/26
200601764 DAVIS 2 1 360 360 70 5/21/96 7/1/96 6/1/26
300602432 LITTLE 2 1 360 360 65 5/2/96 7/1/96 6/1/26
800602496 SPARKS 2 1 360 360 80 4/22/96 6/1/96 5/1/26
900600881 ARIAS 2 1 360 360 69.73 5/7/96 7/1/96 6/1/26
3000600650 WRIGHT 2 0 360 360 65 4/23/96 6/1/96 5/1/26
3000600267 ROGERS 2 0 360 360 65 4/25/96 6/1/96 5/1/26
100600523 HAYDEN 2 1 360 360 78.52 5/13/96 7/1/96 6/1/26
800602231 PRIETO 2 1 360 360 80 5/16/96 7/1/96 6/1/26
3000600198 DAL CHELE 2 0 360 360 70 3/29/96 6/1/96 5/1/26
200601598 CLEMETSON 2 1 360 360 75 5/7/96 7/1/96 6/1/26
600601405 MORRIS 2 1 360 360 75 5/17/96 7/1/96 6/1/26
LOANID NAME ORIGBAL RATE PANDI 8_1BAL NXTDUE SFEE PRPRICE APPVAL
- ------ ---- ------- ---- ----- ------ ------ ---- ------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
800602486 EMBERNATE, SR. 135000 9 1086.24 134926.26 8/1/96 0.5 0 180000
800602561 KUDO 80000 9 643.7 80000 7/1/96 0.5 0 118000
900600846 CRUMPLER 352230 9 2834.12 352012.61 8/1/96 0.5 0 415000
1700600272 BLANCETT 161000 9 1295.44 160912.06 8/1/96 0.5 0 230000
600601378 JONES 600000 9.125 4881.8 600000 7/1/96 0.5 0 1100000
800602393 CHRISTENSEN 40000 9.25 329.07 40000 7/1/96 0.5 0 50000
800602518 RUBIDOUX 77250 9.25 635.52 77250 7/1/96 0.5 0 103000
1000600022 AUTTIER 149600 9.25 1230.72 149600 7/1/96 0.5 187000 187000
1700600348 NYE 87500 9 719.84 87454.64 7/1/96 0.5 0 125000
1700600358 POTTER 118000 9.25 970.76 118000 7/1/96 0.5 147500 148000
1700600477 REED 175000 9.25 1439.68 175000 7/1/96 0.5 0 280000
3000600188 VALENTINE 76500 9.25 629.35 76420.37 7/1/96 0.5 102000 105000
3000600232 MILLER 40000 9.25 329.07 39979.26 7/1/96 0.5 0 88000
3000600235 MORRIS 74750 9.25 614.95 74711.25 7/1/96 0.5 0 115000
3000600241 WASHINGTON 69750 9.25 573.82 69687.66 7/1/96 0.5 0 93000
600601431 RAWAL 500000 9.375 4158.75 500000 7/1/96 0.5 670000 670000
3000600257 MAHAFFY 98925 9.49 831.09 98827.1 8/1/96 0.5 131900 132000
100600582 HAMILTON 114750 9.5 964.88 114693.56 8/1/96 0.5 0 153000
100600745 MICALLEF 226100 9.5 1901.17 226100 7/1/96 0.5 0 266000
200601814 HARDY 80240 9.5 674.7 80240 7/1/96 0.5 100300 101000
300602550 KREIER 292500 9.5 2459.5 292500 7/1/96 0.5 0 325000
600601287 HUNTER 85500 9.5 718.93 85500 7/1/96 0.5 95000 116000
600601429 BRADY 225000 9.5 1891.92 225000 7/1/96 0.5 0 250000
700601342 KEITH 90000 9.5 756.77 90000 8/1/96 0.5 120000 160000
800602566 NIELSEN 83200 9.5 699.59 83200 7/1/96 0.5 0 104000
900600722 DE FOE 296000 9.5 2488.93 296000 7/1/96 0.5 0 370000
1700600189 BAKER 55250 9.5 464.57 55232.83 7/1/96 0.5 0 85000
1700600401 DOUVIA 150000 9.5 1261.28 150000 7/1/96 0.5 0 195000
3000600173 DESROCHERS 35750 9.5 300.61 35732.41 7/1/96 0.5 0 55000
3000600208 KATRENA 127000 9.5 1067.88 126872.58 7/1/96 0.5 158750 159000
3000600238 SNOW 125250 9.5 1053.17 125187.56 7/1/96 0.5 0 167000
3000600252 BURR SR. 30000 9.5 252.26 29918.2 9/1/96 0.5 0 60000
3000600255 HORINE 45000 9.5 378.38 44955.56 8/1/96 0.5 0 80000
3000600305 ROBERSON 216000 9.5 1816.25 215569.93 7/1/96 0.5 270000 270000
3000600323 BRADY 108000 9.5 908.12 107837.47 6/1/96 0.5 0 136000
3000600363 TURNER 51100 9.5 429.68 51023.98 6/1/96 0.5 73000 80000
3000600185 THOMPSON 59500 9.6 504.66 59442.45 7/1/96 0.5 0 85000
1700600330 PETTY 211250 9.625 1795.6 211250 7/1/96 0.5 0 325000
100600708 GODIN 64000 9.75 549.86 64000 7/1/96 0.5 0 80000
200601679 REED 61200 9.75 525.8 61200 7/1/96 0.5 0 76500
200601907 BLAKESLEY 45050 9.75 387.05 45028.98 8/1/96 0.5 0 53000
200601913 BUSTAMANTE 88400 9.75 759.49 88400 7/1/96 0.5 0 136000
200601919 BUSTAMANTE 74400 9.75 639.21 74400 7/1/96 0.5 0 124000
200601923 BUSTAMANTE 88400 9.75 759.49 88400 7/1/96 0.5 0 136000
200602003 CLYMER 159200 9.75 1367.77 159125.73 7/1/96 0.5 199000 199000
300602404 CRITES,SR. 110400 9.75 948.51 110400 7/1/96 0.5 1380000 140000
500600685 DAVIES 56000 9.75 481.13 56000 7/1/96 0.5 80000 80000
500600765 ROSENFELD 341250 9.75 2931.86 341250 7/1/96 0.5 0 525000
500600769 ROSENFELD 341250 9.75 2931.86 341090.8 7/1/96 0.5 0 525000
600601321 LINDSEY 107800 9.75 926.17 107800 7/1/96 0.5 154000 159000
700601258 HORRELL 125000 9.75 1073.94 125000 7/1/96 0.5 198000 198000
700601263 FAISON 148000 9.75 1271.55 148000 7/1/96 0.5 0 185000
700601269 SANDERS 144000 9.75 1237.18 144000 8/1/96 0.5 0 180000
703301195 REICH 155000 9.75 1331.69 155000 8/1/96 0.5 225000 233000
800602462 CABALDON 371250 9.75 3189.61 371250 7/1/96 0.5 0 495000
1000600040 ANDERSON 137200 9.75 1178.76 137200 7/1/96 0.5 0 196000
2000600013 DONAHUE 80800 9.75 694.2 80800 7/1/96 0.5 0 101000
3000600179 ALLEN 58430 9.75 502 58402.74 7/1/96 0.5 0 83000
3000600204 BOX 78000 9.75 670.14 77866.96 7/1/96 0.5 0 120000
603301505 SMITH 157250 9.875 1365.48 157250 7/1/96 0.5 0 185000
800602534 ROBERTS 50625 9.875 439.6 50625 7/1/96 0.5 0 67500
3000600216 WELCH 63000 9.99 552.4 62972.08 7/1/96 0.5 0 90000
3000600328 CLEMENT II 78000 9.99 683.93 77895.32 6/1/96 0.5 0 209000
3000600336 WORD 40000 9.99 350.73 39946.37 6/1/96 0.5 0 120000
3000600394 MADOLE 57850 9.99 507.25 57772.41 6/1/96 0.5 0 89000
3000600620 DELANZO 153200 9.99 1343.31 152994.54 7/1/96 0.5 191500 195000
3000600647 TURNER 213750 9.99 1874.23 213655.24 7/1/96 0.5 0 285000
100600536 LANGMADE 78670 10 690.39 78635.19 8/1/96 0.5 0 98400
100600820 BLENDEN 41000 10 359.8 41000 7/1/96 0.5 55000 55000
200601958 COLLING 132000 10 1158.39 132000 7/1/96 0.5 0 165000
300602499 FAIRFIELD 85000 10 745.94 84962.39 7/1/96 0.5 0 135000
500600508 WYATT 79500 10 697.67 79500 7/1/96 0.5 106000 107000
500600790 BOUGHER 161415 10 1416.53 161415 7/1/96 0.5 189900 191000
700601260 VAN REES 128250 10 1125.49 128250 8/1/96 0.5 171000 171500
800602492 DOMINGO 164000 10 1439.22 164000 7/1/96 0.5 0 205000
800602558 KUDO 71200 10 624.83 71200 7/1/96 0.5 0 105000
900600842 AKESON 105000 10 921.45 105000 7/1/96 0.5 140000 140000
900600939 MAGRAY 99250 10 870.99 99206.09 8/1/96 0.5 133000 133000
900600978 DUFEXIS 280000 10 2457.2 280000 7/1/96 0.5 0 350000
1000600033 VARLEY 45000 10 394.91 45000 7/1/96 0.5 0 60000
300602472 THOMPSON 86500 10.125 767.1 86462.74 8/1/96 0.5 0 130000
300602516 ROSKE 184500 10.125 1636.19 184420.53 7/1/96 0.5 205000 205000
600601257 JOHNSON, SR. 111000 10.125 984.37 111000 7/1/96 0.5 148000 148000
800602446 BELCHER 90000 10.125 798.14 90000 7/1/96 0.5 0 100000
1000600028 BERRY 120800 10.125 1071.28 120800 7/1/96 0.5 0 151000
3000600640 MAGNUSON 86800 10.145 771.05 86762.77 7/1/96 0.5 0 124000
100600791 KNOX 54000 10.25 483.89 54000 7/1/96 0.5 0 91000
200601697 LUBY 292000 10.25 2616.62 291877.55 8/1/96 0.5 0 370000
500600753 LUONG 433600 10.25 3885.5 433418.17 8/1/96 0.5 542500 542000
600601353 REED 85500 10.25 766.16 85500 7/1/96 0.5 0 114000
900601004 FELD 539750 10.25 4836.71 539523.65 8/1/96 0.5 635000 635000
3000600356 DEL CARLO 350000 10.25 3136.35 349657.64 7/1/96 0.5 0 530000
300602443 WILLEFORD 190000 10.375 1720.27 189922.44 8/1/96 0.5 0 325000
200601772 LAMBERT 132000 10.5 1207.46 132000 7/1/96 0.5 165000 166000
800602268 HOTH 180800 10.5 1653.85 180800 7/1/96 0.5 0 226000
1700600322 MENTZOS 108750 10.5 994.78 108750 7/1/96 0.5 0 145000
3000600351 SANDOVAL 40600 10.5 371.38 40551.19 6/1/96 0.5 0 58000
200601715 DAVIS 42250 10.75 394.4 42250 7/1/96 0.5 0 65000
200601764 DAVIS 131250 10.75 1225.19 131250 7/1/96 0.5 0 187500
300602432 LITTLE 61100 10.75 570.36 61100 7/1/96 0.5 0 94000
800602496 SPARKS 74400 10.75 694.51 74343.73 8/1/96 0.5 93000 93000
900600881 ARIAS 136661 10.75 1275.7 136661 7/1/96 0.5 196230 196000
3000600650 WRIGHT 44200 10.75 412.6 44166.57 6/1/96 0.5 0 68000
3000600267 ROGERS 61750 10.99 587.59 61727.94 7/1/96 0.5 0 95000
100600523 HAYDEN 106000 11 1009.46 106000 7/1/96 0.5 0 135000
800602231 PRIETO 59200 11 563.78 59200 7/1/96 0.5 0 74000
3000600198 DAL CHELE 213500 11 2033.21 213423.87 7/1/96 0.5 305000 305000
200601598 CLEMETSON 134250 11.5 1329.47 134250 7/1/96 0.5 0 179000
600601405 MORRIS 187500 12.75 2037.55 187500 7/1/96 0.5 250000 250000
</TABLE>
Total Group I: $14,996,252.37
<TABLE>
<CAPTION>
LOANID NAME INDEX ORATE OPANDI RFREQ PFREQ FRADATE NRADATE
- ------ ---- ----- ----- ------ ----- ----- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
800602486 EMBERNATE, SR. 6 9 1086.24 6 0 10197 10197
800602561 KUDO 6 9 643.7 6 0 10197 10197
900600846 CRUMPLER 6 9 2834.12 6 0 10197 10197
1700600272 BLANCETT 6 9 1295.44 6 0 10197 10197
600601378 JONES 6 9.125 4881.8 6 0 10197 10197
800602393 CHRISTENSEN 6 9.25 329.07 6 0 10197 10197
800602518 RUBIDOUX 6 9.25 635.52 6 0 10197 10197
1000600022 AUTTIER 6 9.25 1230.72 6 0 10197 10197
1700600348 NYE 6 9.25 719.84 6 0 10197 10197
1700600358 POTTER 6 9.25 970.76 6 0 10197 10197
1700600477 REED 6 9.25 1439.68 6 0 10197 10197
3000600188 VALENTINE 6 9.25 629.35 6 0 110196 110196
3000600232 MILLER 6 9.25 329.07 6 0 120196 120196
3000600235 MORRIS 6 9.25 614.95 6 0 120196 120196
3000600241 WASHINGTON 6 9.25 573.82 6 0 120196 120196
600601431 RAWAL 6 9.375 4158.75 6 0 10197 10197
3000600257 MAHAFFY 6 9.49 831.09 6 0 120196 120196
100600582 HAMILTON 6 9.5 964.88 6 0 10197 10197
100600745 MICALLEF 6 9.5 1901.17 6 0 10197 10197
200601814 HARDY 6 9.5 674.7 6 0 10197 10197
300602550 KREIER 6 9.5 2459.5 6 0 10197 10197
600601287 HUNTER 6 9.5 718.93 6 0 10197 10197
600601429 BRADY 6 9.5 1891.92 6 0 10197 10197
700601342 KEITH 6 9.5 756.77 6 0 20197 20197
800602566 NIELSEN 6 9.5 699.59 6 0 10197 10197
900600722 DE FOE 6 9.5 2488.93 6 0 10197 10197
1700600189 BAKER 6 9.5 464.57 6 0 10197 10197
1700600401 DOUVIA 6 9.5 1261.28 6 0 10197 10197
3000600173 DESROCHERS 6 9.5 300.61 6 0 120196 120196
3000600208 KATRENA 6 9.5 1067.88 6 0 110196 110196
3000600238 SNOW 6 9.5 1053.17 6 0 120196 120196
3000600252 BURR SR. 6 9.5 252.26 6 0 120196 120196
3000600255 HORINE 6 9.5 378.38 6 0 120196 120196
3000600305 ROBERSON 6 9.5 1816.25 6 0 100196 100196
3000600323 BRADY 6 9.5 908.12 6 0 120196 120196
3000600363 TURNER 6 9.5 429.68 6 0 110196 110196
3000600185 THOMPSON 6 9.6 504.66 6 0 110196 110196
1700600330 PETTY 6 9.625 1795.6 6 0 10197 10197
100600708 GODIN 6 9.75 549.86 6 0 10197 10197
200601679 REED 6 9.75 525.8 6 0 10197 10197
200601907 BLAKESLEY 6 9.75 387.05 6 0 10197 10197
200601913 BUSTAMANTE 6 9.75 759.49 6 0 10197 10197
200601919 BUSTAMANTE 6 9.75 639.21 6 0 10197 10197
200601923 BUSTAMANTE 6 9.75 759.49 6 0 10197 10197
200602003 CLYMER 6 9.75 1367.77 6 0 10197 10197
300602404 CRITES,SR. 6 9.75 948.51 6 0 10197 10197
500600685 DAVIES 6 9.75 481.13 6 0 10197 10197
500600765 ROSENFELD 6 9.75 2931.86 6 0 10197 10197
500600769 ROSENFELD 6 9.75 2931.86 6 0 10197 10197
600601321 LINDSEY 6 9.75 926.17 6 0 10197 10197
700601258 HORRELL 6 9.75 1073.94 6 0 10197 10197
700601263 FAISON 6 9.75 1271.55 6 0 10197 10197
700601269 SANDERS 6 9.75 1237.18 6 0 20197 20197
703301195 REICH 6 9.75 1331.69 6 0 20197 20197
800602462 CABALDON 6 9.75 3189.61 6 0 70198 70198
1000600040 ANDERSON 6 9.75 1178.76 6 0 10197 10197
2000600013 DONAHUE 6 9.75 694.2 6 0 10197 10197
3000600179 ALLEN 6 9.75 502 6 0 120196 120196
3000600204 BOX 6 9.75 670.14 6 0 110196 110196
603301505 SMITH 6 9.875 1365.48 6 0 70198 70198
800602534 ROBERTS 6 9.875 439.6 6 0 70198 70198
3000600216 WELCH 6 9.99 552.4 6 0 120196 120196
3000600328 CLEMENT II 6 9.99 683.93 6 0 110196 110196
3000600336 WORD 6 9.99 350.73 6 0 110196 110196
3000600394 MADOLE 6 9.99 507.25 6 0 110196 110196
3000600620 DELANZO 6 9.99 1343.31 6 0 110196 110196
3000600647 TURNER 6 9.99 1874.23 36 0 60199 60199
100600536 LANGMADE 6 10 690.39 6 0 10197 10197
100600820 BLENDEN 6 10 359.8 6 0 10197 10197
200601958 COLLING 6 10 1158.39 6 0 10197 10197
300602499 FAIRFIELD 6 10 745.94 6 0 10197 10197
500600508 WYATT 6 10 697.67 6 0 10197 10197
500600790 BOUGHER 6 10 1416.53 6 0 10197 10197
700601260 VAN REES 6 10 1125.49 6 0 20197 20197
800602492 DOMINGO 6 10 1439.22 6 0 10197 10197
800602558 KUDO 6 10 624.83 6 0 10197 10197
900600842 AKESON 6 10 921.45 6 0 10197 10197
900600939 MAGRAY 6 10 870.99 6 0 10197 10197
900600978 DUFEXIS 6 10 2457.2 6 0 10197 10197
1000600033 VARLEY 6 10 394.91 6 0 70198 70198
300602472 THOMPSON 6 10.125 767.1 6 0 70198 70198
300602516 ROSKE 6 10.125 1636.19 6 0 10197 10197
600601257 JOHNSON, SR. 6 10.125 984.37 6 0 10197 10197
800602446 BELCHER 6 10.125 798.14 6 0 70198 70198
1000600028 BERRY 6 10.125 1071.28 6 0 70198 70198
3000600640 MAGNUSON 6 10.145 771.05 0 0 60199 60199
100600791 KNOX 6 10.25 483.89 6 0 10197 10197
200601697 LUBY 6 10.25 2616.62 6 0 10197 10197
500600753 LUONG 6 10.25 3885.5 6 0 10197 10197
600601353 REED 6 10.25 766.17 6 0 10197 10197
900601004 FELD 6 10.25 4836.71 6 0 70198 70198
3000600356 DEL CARLO 6 10.25 3136.35 6 0 110196 110196
300602443 WILLEFORD 6 10.375 1720.27 6 0 70198 70198
200601772 LAMBERT 6 10.5 1207.46 6 0 10197 10197
800602268 HOTH 6 10.5 1653.85 6 0 10197 10197
1700600322 MENTZOS 6 10.5 994.78 6 0 10197 10197
3000600351 SANDOVAL 6 10.5 371.38 6 0 110196 110196
200601715 DAVIS 6 10.75 394.4 6 0 10197 10197
200601764 DAVIS 6 10.75 1225.19 6 0 10197 10197
300602432 LITTLE 6 10.75 570.36 6 0 10197 10197
800602496 SPARKS 6 10.75 694.51 6 0 120196 120196
900600881 ARIAS 6 10.75 1275.7 6 0 10197 10197
3000600650 WRIGHT 6 10.75 412.6 0 0 120196 120196
3000600267 ROGERS 6 10.99 587.59 6 0 120196 120196
100600523 HAYDEN 6 11 1009.46 6 0 10197 10197
800602231 PRIETO 6 11 563.78 6 0 10197 10197
3000600198 DAL CHELE 6 11 2033.21 6 0 120196 120196
200601598 CLEMETSON 6 11.5 1329.47 6 0 10197 10197
600601405 MORRIS 6 12.75 2037.55 6 0 10197 10197
LOANID NAME NPADATE MARGIN PERCAP LIFECAP FLOOR PAYCAP ASSUME BALLOON
- ------ ---- ------- ------ ------ ------- ----- ------ ------ -------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
800602486 EMBERNATE, SR. 10197 5.9 1 16 9 N N
800602561 KUDO 10197 5.4 1 16 9 N N
900600846 CRUMPLER 10197 5.4 1 16 9 N N
1700600272 BLANCETT 10197 5.9 1 16 9 N N
600601378 JONES 10197 5.275 1 16.125 9.125 N N
800602393 CHRISTENSEN 10197 5.9 1 16.25 9.25 N N
800602518 RUBIDOUX 10197 6.15 1 16.25 9.25 N N
1000600022 AUTTIER 10197 5.9 1 16.25 9.25 N N
1700600348 NYE 10197 5.9 1 16.25 9.25 N N
1700600358 POTTER 10197 5.9 1 16.25 9.25 N N
1700600477 REED 10197 5.4 1 16.25 9.25 N N
3000600188 VALENTINE 110196 5.75 1 16.25 9.25 N N
3000600232 MILLER 120196 5.75 1 16.25 9.25 N N
3000600235 MORRIS 120196 6.25 1 15.25 9.25 N N
3000600241 WASHINGTON 120196 5.75 1 16.25 9.25 N N
600601431 RAWAL 10197 6.275 1 16.375 9.375 N N
3000600257 MAHAFFY 120196 5.75 1 16.49 9.49 N N
100600582 HAMILTON 10197 4.9 1 16.5 9.5 N N
100600745 MICALLEF 10197 4.9 1 16.5 9.5 N N
200601814 HARDY 10197 5.4 1 16.5 9.5 N N
300602550 KREIER 10197 5.5 1 16.5 9.5 N N
600601287 HUNTER 10197 5.5 1 16.5 9.5 N N
600601429 BRADY 10197 5.5 1 16.5 9.5 N N
700601342 KEITH 20197 5.4 1 16.5 9.5 N N
800602566 NIELSEN 10197 5.4 1 16.5 9.5 N N
900600722 DE FOE 10197 5.4 1 16.5 9.5 N N
1700600189 BAKER 10197 4.9 1.5 16.5 9.5 N N
1700600401 DOUVIA 10197 5.4 1 16.5 9.5 N N
3000600173 DESROCHERS 120196 5.75 1 16.5 9.5 N N
3000600208 KATRENA 110196 5.75 1 16.5 9.5 N N
3000600238 SNOW 120196 5.75 1 16.5 9.5 N N
3000600252 BURR SR. 120196 5.75 1 16.5 9.5 N N
3000600255 HORINE 120196 5.75 1 16.5 9.5 N N
3000600305 ROBERSON 100196 5.5 1 15.5 9.5 N N
3000600323 BRADY 120196 5.75 1 15.5 9.5 N N
3000600363 TURNER 110196 5.5 1 16.5 9.5 N N
3000600185 THOMPSON 110196 5.5 1 16.6 9.6 N N
1700600330 PETTY 10197 5.4 1 16.625 9.625 N N
100600708 GODIN 10197 4.9 1 16.75 9.75 N N
200601679 REED 10197 5.4 1 16.75 9.75 N N
200601907 BLAKESLEY 10197 4.9 1 16.75 9.75 N N
200601913 BUSTAMANTE 10197 5.9 1 16.75 9.75 N N
200601919 BUSTAMANTE 10197 5.9 1 16.75 9.75 N N
200601923 BUSTAMANTE 10197 5.9 1 16.75 9.75 N N
200602003 CLYMER 10197 5.9 1 16.75 9.75 N N
300602404 CRITES,SR. 10197 5.65 1 16.75 9.75 N N
500600685 DAVIES 10197 6.4 1 16.75 9.75 N N
500600765 ROSENFELD 10197 6.9 1 16.75 9.75 N N
500600769 ROSENFELD 10197 6.9 1 16.75 9.75 N N
600601321 LINDSEY 10197 5.9 1 16.75 9.75 N N
700601258 HORRELL 10197 6.25 1 16.75 9.75 N N
700601263 FAISON 10197 4.9 1 16.75 9.75 N N
700601269 SANDERS 20197 4.9 1 16.75 9.75 N N
703301195 REICH 20197 5.75 1 16.75 9.75 N N
800602462 CABALDON 70198 5.4 1.5 16.75 9.75 N N
1000600040 ANDERSON 10197 6.4 1 16.75 9.75 N N
2000600013 DONAHUE 10197 5.4 1 16.75 9.75 N N
3000600179 ALLEN 120196 5.75 1 16.75 9.75 N N
3000600204 BOX 110196 5.75 1 15.75 9.75 N N
603301505 SMITH 70198 4.9 1.5 16.875 9.875 N N
800602534 ROBERTS 70198 5.4 1.5 16.875 9.875 N N
3000600216 WELCH 120196 5.75 1 16.99 9.99 N N
3000600328 CLEMENT II 110196 6.5 1 16.99 9.99 N N
3000600336 WORD 110196 6.5 1 16.99 9.99 N N
3000600394 MADOLE 110196 5.75 1 16.99 9.99 N N
3000600620 DELANZO 110196 5.75 1 16.99 9.99 N N
3000600647 TURNER 60199 6 1.5 15.99 9.99 N N
100600536 LANGMADE 10197 5.4 1 17 10 N N
100600820 BLENDEN 10197 5.65 1 17 10 N N
200601958 COLLING 10197 5.9 1 17 10 N N
300602499 FAIRFIELD 10197 5.9 1 17 10 N N
500600508 WYATT 10197 5.75 1 17 10 N N
500600790 BOUGHER 10197 4.9 1 17 10 N N
700601260 VAN REES 20197 5.75 1 17 10 N N
800602492 DOMINGO 10197 5.5 1 17 10 N N
800602558 KUDO 10197 6.15 1 17 10 N N
900600842 AKESON 10197 6 1 17 10 N N
900600939 MAGRAY 10197 5.75 1 17 10 N N
900600978 DUFEXIS 10197 5.9 1 17 10 N N
1000600033 VARLEY 70198 5.4 1.5 17 10 N N
300602472 THOMPSON 70198 5.15 1.5 17.125 10.125 N N
300602516 ROSKE 10197 5 1.5 17.125 10.125 N N
600601257 JOHNSON, SR. 10197 5.9 1 17.125 10.125 N N
800602446 BELCHER 70198 5 1.5 17.125 10.125 N N
1000600028 BERRY 70198 5.4 1.5 17.125 10.125 N N
3000600640 MAGNUSON 60199 5.5 3 16.145 10.145 N N
100600791 KNOX 10197 5.9 1 17.25 10.25 N N
200601697 LUBY 10197 5.4 1 17.25 10.25 N N
500600753 LUONG 10197 5.4 1 17.25 10.25 N N
600601353 REED 10197 5.9 1 17.25 10.25 N N
900601004 FELD 70198 5.275 1.5 17.25 10.25 N N
3000600356 DEL CARLO 110196 5.75 1 17.25 10.25 N N
300602443 WILLEFORD 70198 5.9 1.5 17.375 10.375 N N
200601772 LAMBERT 10197 5.4 1 17.5 10.5 N N
800602268 HOTH 10197 6.5 1 17.5 10.5 N N
1700600322 MENTZOS 10197 5.75 1 17.5 10.5 N N
3000600351 SANDOVAL 110196 6.25 1 17.5 10.5 N N
200601715 DAVIS 10197 5.9 1 17.75 10.75 N N
200601764 DAVIS 10197 5.75 1 17.75 10.75 N N
300602432 LITTLE 10197 5.75 1 17.75 10.75 N N
800602496 SPARKS 120196 6 1 17.75 10.75 N N
900600881 ARIAS 10197 5.9 1 17.75 10.75 N N
3000600650 WRIGHT 120196 5.5 3 16.75 10.75 N N
3000600267 ROGERS 120196 5.75 1 17.99 10.99 N N
100600523 HAYDEN 10197 5.9 1 18 11 N N
800602231 PRIETO 10197 5.9 1 18 11 N N
3000600198 DAL CHELE 120196 5.75 1 18 11 N N
200601598 CLEMETSON 10197 5.75 1 18.5 11.5 N N
600601405 MORRIS 10197 6.25 1 19.75 12.75 N N
LOANID NAME CREDITCL DEBT2INC LIENPOS NEGAMFLG SRBAL CASHOUT DOCTYPE PREPAY
- ------ ---- -------- -------- ------- -------- ----- ------- ------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
800602486 EMBERNATE, SR. A- 28 1 0 Y STATED 1003 Y
800602561 KUDO A- 12.87 1 0 Y STATED 1003 Y
900600846 CRUMPLER A- 45 1 0 Y FULL N
1700600272 BLANCETT A- 39 1 0 Y STATED 1003 N
600601378 JONES A- 50 1 0 Y STATED 1003 Y
800602393 CHRISTENSEN A- 40 1 0 Y FULL N
800602518 RUBIDOUX A- 42 1 0 Y FULL N
1000600022 AUTTIER A- 21 1 0 N LITE N
1700600348 NYE B 27 1 0 Y FULL N
1700600358 POTTER A- 45 1 0 N LITE N
1700600477 REED A- 40 1 0 Y STATED 1003 Y
3000600188 VALENTINE B 49.6 1 0 N FULL Y
3000600232 MILLER C 58 1 0 Y LITE N
3000600235 MORRIS C 53 1 0 Y LITE Y
3000600241 WASHINGTON C 19.19 1 0 N FULL Y
600601431 RAWAL A- 41 1 0 N STATED 1003 N
3000600257 MAHAFFY B 26 1 0 N FULL Y
100600582 HAMILTON A- 46 1 0 Y FULL N
100600745 MICALLEF A- 46 1 0 Y FULL Y
200601814 HARDY B 35 1 0 N FULL Y
300602550 KREIER A 43 1 0 Y FULL N
600601287 HUNTER A 28 1 0 N FULL N
600601429 BRADY A 42 1 0 Y FULL N
700601342 KEITH A- 51 1 0 N STATED 1003 N
800602566 NIELSEN B 22 1 0 Y FULL N
900600722 DE FOE B 44 1 0 Y FULL N
1700600189 BAKER A- 34 1 0 Y FULL Y
1700600401 DOUVIA B 43.76 1 0 Y FULL Y
3000600173 DESROCHERS A- 23 1 0 Y FULL Y
3000600208 KATRENA B 52 1 0 N FULL Y
3000600238 SNOW B 53 1 0 N FULL Y
3000600252 BURR SR. B 18 1 0 Y FULL Y
3000600255 HORINE D 37 1 0 Y LITE Y
3000600305 ROBERSON A- 41.37 1 0 N FULL Y
3000600323 BRADY B 46.88 1 0 Y FULL Y
3000600363 TURNER A- 36.45 1 0 N STATED 1003 Y
3000600185 THOMPSON A 37 1 0 N FULL N
1700600330 PETTY A- 38.7 1 0 Y STATED 1003 N
100600708 GODIN A- 37 1 0 Y FULL Y
200601679 REED A- 34 1 0 Y FULL Y
200601907 BLAKESLEY A- 19 1 0 Y FULL Y
200601913 BUSTAMANTE A- 43 1 0 N STATED 1003 Y
200601919 BUSTAMANTE A- 43 1 0 N STATED 1003 Y
200601923 BUSTAMANTE A- 43 1 0 N STATED 1003 Y
200602003 CLYMER A- 39 1 0 N LITE N
300602404 CRITES,SR. B 44 1 0 N FULL Y
500600685 DAVIES A- 23 1 0 N STATED 1003 N
500600765 ROSENFELD A- 54 1 0 N STATED 1003 N
500600769 ROSENFELD A- 54 1 0 N STATED 1003 N
600601321 LINDSEY B 34 1 0 N STATED 1003 Y
700601258 HORRELL C 43 1 0 N STATED 1003 N
700601263 FAISON A- 42 1 0 Y FULL Y
700601269 SANDERS A- 35 1 0 N FULL N
703301195 REICH C 55 1 0 N FULL N
800602462 CABALDON A- 44 1 0 Y STATED 1003 Y
1000600040 ANDERSON B 8 1 0 Y LITE N
2000600013 DONAHUE A- 19.86 1 0 N FULL N
3000600179 ALLEN C 35 1 0 Y FULL N
3000600204 BOX A- 27 1 0 Y FULL Y
603301505 SMITH A- 46 1 0 N FULL Y
800602534 ROBERTS A- 29 1 0 Y FULL N
3000600216 WELCH C 37 1 0 N FULL Y
3000600328 CLEMENT II D 54.83 1 0 N LITE N
3000600336 WORD C 0 1 0 Y LITE N
3000600394 MADOLE C 45.89 1 0 Y FULL Y
3000600620 DELANZO B 36.7 1 0 N FULL Y
3000600647 TURNER B 49.04 1 0 Y FULL Y
100600536 LANGMADE B 53 1 0 N FULL N
100600820 BLENDEN B 34 1 0 N FULL Y
200601958 COLLING B 41 1 0 Y FULL N
300602499 FAIRFIELD B 54 1 0 Y LITE Y
500600508 WYATT C 47 1 0 N FULL Y
500600790 BOUGHER A- 37 1 0 N ALT Y
700601260 VAN REES C 55 1 0 N FULL N
800602492 DOMINGO A 34 1 0 Y STATED 1003 Y
800602558 KUDO A- 12.75 1 0 Y STATED 1003 Y
900600842 AKESON A 35 1 0 N LITE Y
900600939 MAGRAY C 46 1 0 N FULL N
900600978 DUFEXIS B 45 1 0 Y ALT N
1000600033 VARLEY A- 37 1 0 Y FULL N
300602472 THOMPSON A- 29 1 0 Y FULL Y
300602516 ROSKE A 45 1 0 N FULL N
600601257 JOHNSON, SR. A- 40 1 0 N STATED 1003 Y
800602446 BELCHER A 48 1 0 Y FULL Y
1000600028 BERRY A- 38 1 0 Y LITE N
3000600640 MAGNUSON A- 45.15 1 0 Y STATED 1003 N
100600791 KNOX A- 43 1 0 Y QUICK DOC N
200601697 LUBY A- 33 1 0 N LITE N
500600753 LUONG A- 36 1 0 N LITE Y
600601353 REED A- 44 1 0 Y FULL Y
900601004 FELD A- 34 1 0 N FULL Y
3000600356 DEL CARLO B 53.27 1 0 N LITE Y
300602443 WILLEFORD B 42 1 0 Y FULL N
200601772 LAMBERT B 26 1 0 N FULL Y
800602268 HOTH A 31 1 0 Y FULL N
1700600322 MENTZOS C 54 1 0 Y FULL Y
3000600351 SANDOVAL B 41.03 1 0 N FULL N
200601715 DAVIS A- 45 1 0 N STATED 1003 Y
200601764 DAVIS C 40 1 0 Y FULL Y
300602432 LITTLE C 40 1 0 Y FULL Y
800602496 SPARKS A 33 1 0 N STATED 1003 N
900600881 ARIAS B 28 1 0 N FULL Y
3000600650 WRIGHT A- 29.1 1 0 Y STATED 1003 Y
3000600267 ROGERS C 43 1 0 Y STATED 1003 Y
100600523 HAYDEN B 50 1 0 Y FULL Y
800602231 PRIETO B 25 1 0 Y ALT Y
3000600198 DAL CHELE C 46.31 1 0 N FULL Y
200601598 CLEMETSON C 44 1 0 Y FULL Y
600601405 MORRIS C 39 1 0 N FULL Y
LOANID NAME SVCNO
- ------ ---- -----
<S> <C> <C>
800602486 EMBERNATE, SR.
800602561 KUDO 2048635
900600846 CRUMPLER 2055945
1700600272 BLANCETT 2035582
600601378 JONES 2048692
800602393 CHRISTENSEN 2048403
800602518 RUBIDOUX 2046225
1000600022 AUTTIER 2036333
1700600348 NYE 2033942
1700600358 POTTER
1700600477 REED 2056208
3000600188 VALENTINE 2048700
3000600232 MILLER 2055515
3000600235 MORRIS 2055564
3000600241 WASHINGTON 2055457
600601431 RAWAL 2055663
3000600257 MAHAFFY 2055911
100600582 HAMILTON 2055408
100600745 MICALLEF 2048759
200601814 HARDY 2048304
300602550 KREIER 2058956
600601287 HUNTER 2048411
600601429 BRADY 2036598
700601342 KEITH 2048502
800602566 NIELSEN 2074300
900600722 DE FOE 2046308
1700600189 BAKER 2032365
1700600401 DOUVIA
3000600173 DESROCHERS 2048775
3000600208 KATRENA 2055507
3000600238 SNOW 2055390
3000600252 BURR SR. 2055622
3000600255 HORINE 2055416
3000600305 ROBERSON 2055572
3000600323 BRADY
3000600363 TURNER
3000600185 THOMPSON
1700600330 PETTY 2049856
100600708 GODIN 2048833
200601679 REED 2048296
200601907 BLAKESLEY 2046183
200601913 BUSTAMANTE 2058071
200601919 BUSTAMANTE 2048718
200601923 BUSTAMANTE 2057016
200602003 CLYMER 2048528
300602404 CRITES,SR.
500600685 DAVIES 2056257
500600765 ROSENFELD 2046274
500600769 ROSENFELD 2046209
600601321 LINDSEY
700601258 HORRELL 2036614
700601263 FAISON 2058261
700601269 SANDERS 2058055
703301195 REICH 2058279
800602462 CABALDON 2086916
1000600040 ANDERSON 2048650
2000600013 DONAHUE 2036580
3000600179 ALLEN 2048254
3000600204 BOX 2055432
603301505 SMITH
800602534 ROBERTS 2056018
3000600216 WELCH 2046373
3000600328 CLEMENT II 2055598
3000600336 WORD
3000600394 MADOLE
3000600620 DELANZO
3000600647 TURNER
100600536 LANGMADE 2049880
100600820 BLENDEN 2048619
200601958 COLLING 2058097
300602499 FAIRFIELD 2048221
500600508 WYATT
500600790 BOUGHER 2048486
700601260 VAN REES 2040822
800602492 DOMINGO 2086866
800602558 KUDO 2048494
900600842 AKESON 2056026
900600939 MAGRAY 2057081
900600978 DUFEXIS 2058063
1000600033 VARLEY 2057172
300602472 THOMPSON 2036606
300602516 ROSKE 2034148
600601257 JOHNSON, SR.
800602446 BELCHER 2033959
1000600028 BERRY 2034189
3000600640 MAGNUSON 2036572
100600791 KNOX 2055648
200601697 LUBY 2046514
500600753 LUONG 2037877
600601353 REED 2046241
900601004 FELD 2057057
3000600356 DEL CARLO 2040756
300602443 WILLEFORD
200601772 LAMBERT 2033934
800602268 HOTH 2046472
1700600322 MENTZOS 2034171
3000600351 SANDOVAL 2056224
200601715 DAVIS
200601764 DAVIS 2036382
300602432 LITTLE 2040830
800602496 SPARKS 2031979
900600881 ARIAS 2032043
3000600650 WRIGHT 2035566
3000600267 ROGERS
100600523 HAYDEN 2055556
800602231 PRIETO 2036291
3000600198 DAL CHELE 2039634
200601598 CLEMETSON 2049906
600601405 MORRIS 2032159
</TABLE>
<TABLE>
<CAPTION>
SOUTHERN PACIFIC SECURED ASSETS CORP. , SERIES 1996-2
Group II Pre-Funded Account
LOANID NAME ADDRESS CITY STATE ZIP COUNTY
- ------ ---- ------- ---- ----- --- ------
<S> <C> <C> <C> <C> <C> <C>
303305374 HOWARD 3624 WILLS ROAD EMMETT ID 83617 GEM
303305939 CHEWNING 26000 HALL ROAD WILLAMINA OR 97396 POLK
1003300170 JONES 578 NORTH SIXTH STREET CENTRAL POINT OR 97502 JACKSON
803302678 KING 33265 STONEMAN STREET LAKE ELSINORE CA 92530 RIVERSIDE
803302735 MCGARVEY 6069 FALLING TREE LANE RANCHO CUCAMONGA CA 91737 SAN BERNARDINO
303305699 KUENZI 7601 HOWELL PRAIRIE RD NE SILVERTON OR 97381 MARION
1703301117 MARTIN 25817 61ST AVENUE EAST GRAHAM WA 98338 PIERCE
303305836 ALLPORT 8395 S.E. GROCE RD CORBETT OR 97019 MULTNOMAH
803302560 WILLIAMS 33940 STAGECOACH ROAD NUEVO AREA CA 92567 RIVERSIDE
803302786 CASTLEBERRY 1721 WEST 68TH STREET LOS ANGELES CA 90047 LOS ANGELES
1703300945 BECK 9518 206TH AVENUE EAST SUMNER WA 98390 PIERCE
603301156 ELLISON 7980 SKY HI LANE LUCERNE VALLEY CA 92356 SAN BERNARDINO
803302865 SCHACHT 2936 DEL RIO DRIVE STOCKTON CA 95204 SAN JOAQUIN
303305212 LANDER 40899 LACOMB DRIVE LEBANON OR 97355 LINN
303305564 MURRISON 292 OAK STREET LEBANON OR 97355 LINN
303305960 KRIEMHILD 27702 NE NOURSE RD CAMAS WA 98607 CLARK
303305972 HAGEN 25640 LAWRENCE RD JUNCTION CITY OR 97448 LANE
303305998 CORNWELL 1417 NORTH 31ST STREET SPRINGFIELD OR 97477 LANE
303306030 LEIGH 962 NORTH 400 WEST CEDAR CITY UT 84720 IRON
303306341 PONCE 5700 COTTONTAIL DR. CROOKED RIVER RANCH OR 97760 JEFFERSON
303306357 BARBEE 125 E. BLVD NEW PLYMOUTH ID 83655 PAYETTE
303306455 WRIGHT 12220 SW GRANT AVE TIGARD OR 97223 WASHINGTON
903300631 PARKER 5743 RESERVOIR ROAD GEORGETOWN CA 95634 EL DORADO
1703301128 COX 8421 274TH AVENUE EAST BUCKLEY WA 98321 PIERCE
1703301277 INGSTAD 2047 NATURE VIEW DRIVE SEDRO WOOLEY WA 98284 SKAGIT
1703301499 DONNER 7407 353RD STREET SOUTH ROY WA 98580 PIERCE
2003300342 PETERSON 4350 CLARK STREET WHITEHALL MI 49461 MUSKEGON
2003300415 CARRIERE 2220 18 Mile Road Cedar Springs MI 49319 KENT
3003300380 WONGUS 13413 WESTERIA DRIVE GERMAN TOWN MD 20874 MONTGOMERY
303305085 GALLAGHER 1201 FAHY AVENUE BANDON OR 97411 COOS
303305508 ROY 16973 DOWNEY RD BEND OR 97707 DESCHUTES
303305865 ADAME 8440 6TH STREET TERREBONNE OR 97760 DESCHUTES
303306046 HINSHAW 135 S 19TH ST ST HELENS OR 97051 COLUMBIA
303306305 POOLE 667 BUNKER HILL ROAD LONGVIEW WA 98632 COWLITZ
303306471 COX 390 NW BIRCH COURT WARRENTON OR 97146 CLATSOP
603301756 WASHINGTON 329 E. 90TH STREET LOS ANGELES CA 90003 LOS ANGELES
803302717 VALERIO 7164 SOUTH ANGELSEA DRIVE WEST JORDAN UT 84084 SALT LAKE
803303081 PEKAREK 203 MILL STREET DAYTON OR 97114 YAMHILL
903300725 VILLARREAL 25008 AVENUE 212 LINDSAY CA 93247 TULARE
1003300225 DAVIS 342 NORTH IVY STREET MEDFORD OR 97501 JACKSON
1703300442 THOMAS ROUTE 1, BOX 123 PRIEST RIVER ID 83856 BONNER
1703301367 RODMAN ROUTE 2 BOX 1225 BANDON OR 97411 COOS
1703301422 RUBY 1830 SOUTHWEST FAWN LANE PORT ORCHARD WA 98366 KITSAP
203302100 HERRERA 17811 EAST 136TH AVENUE BRIGHTON CO 80601 ADAMS
303305391 KINNAIRD 19435 CALICO ROAD BEND OR 97702 DESCHUTES
303306270 PROUT 324 S WASHINGTON EMMETT ID 83617 GEM
603301373 NANCE 174 NANCY AVENUE CHESTER CA 96020 PLUMAS
603301406 MCKENZIE 6124 CALIFORNIA AVENUE LONG BEACH CA 90805 LOS ANGELES
603301422 HOSTETLER 10991 WESTMORE CIRCLE SAN DIEGO CA 92126 SAN DIEGO
703301247 RIVERA 10344 N.W. 128 TERRACE HIALEAH GARDENS FL 33016 DADE
703301430 HALL 1413 DUNWOODY AVENUE OXON HILL MD 20745 PRINCE GEORGE'S
803302533 WILLET 8550 S.E. MAYBERRY LANE BORING OR 97009 CLACKAMAS
803302696 BAUM 16950 SILVER STAR COURT RIVERSIDE CA 92506 RIVERSIDE
803303105 PETERSEN 62323 MARS AVENUE JOSHUA TREE AREA CA 92252 SAN BERNARDINO
1003300176 KUSEL 7512 ATLANTIC AVE WHITE CITY OR 97503 JACKSON
1203300006 BASURA 1023 OAK RIDGE ROAD CARPENTERSVILLE IL 60110 KANE
1703300544 REYNOLDS 18295 WEST WINTERGREEN LANE BREMERTON WA 98312 KITSAP
1703300720 STREEPY 1221 HILLSIDE DRIVE CARBONADO WA 98323 PIERCE
1703300927 MATESKI 4219 119TH STREET SOUTHEAST TENINO WA 98589 THURSTON
803302426 BERTANI 21850 ROCKPILE LANE NUEVO AREA CA 92567 RIVERSIDE
803302640 SHINER 310 NORTH 100 EAST ELSINORE UT 84724 SEVIER
1003300221 MORRISON 500 HELMAN STREET ASHLAND OR 97520 JACKSON
1703301391 VANDERVEEN 2080 WILLEYS LAKE ROAD CUSTER WA 98240 WHATCOM
1703301398 HAY 202126 EAST 25TH AVENUE KENNEWICK WA 99337 BENTON
3003200227 GONZALEZ 10961 N. 122ND ST. SCOTTSDALE AZ 85259 MARICOPA
103301109 SCHEERER 120 COUNTRY CLUB DRIVE INCLINE VILLAGE NV 89451 WASHOE
103301575 MILLER 1123 THIRD STREET WYANDOTTE MI 48192 WAYNE
303304184 HAYS 21195 GIFT ROAD BEND OR 97701 DESCHUTES
303304846 HUSTED 65996 TWIN BRIDGES ROAD BEND OR 97701 DESCHUTES
303305012 CEASER 5217 NE 28TH AVENUE PORTLAND OR 97211 MULTNOMAH
303306072 BROWN 23475 GOOSENECK RD SHERIDAN OR 97378 POLK
303306077 JOHN 53616 BIG TIMBER DR LAPINE OR 97739 DESCHUTES
303306244 ECKERT 28959 SOUTH CRAMER ROAD MOLALLA OR 97038 CLACKAMAS
303306335 STACEY 4745 EL CEDRO ST N.E. SALEM OR 97305 MARION
303306350 RUCKER 342 E. HUNTINGTON HILL RD WASHINGTON UT 84780 WASHINGTON
603301444 RASMUSSEN 26730 HIGHWAY 74 PERRIS AREA CA 92570 RIVERSIDE
803301644 SCOTT 10944 58TH STREET MIRA LOMA AREA CA 91752 RIVERSIDE
803302275 HAYNES 9541 AVENUE G BOMBAY BEACH CA 92257 IMPERIAL
803302481 HERNANDEZ 1133 CHUCKAWALLA DRIVE COTTONWOOD AZ 86326 YAVAPAI
803302685 BOOZ 1758 DS ROAD GLADE PARK CO 81523 MESA
803302825 OPPELT 4257 RIVERVIEW DRIVE RIVERSIDE AREA CA 92509 RIVERSIDE
803302830 JONES 38650 VIA ESCARLATA MURRIETA AREA CA 92563 RIVERSIDE
803302991 SAHAGUN 126 KAHINANI PLACE KAUNAKAKAI HI 96748 MAUI
803303158 WARE 1213 N. BLANCHARD STREET BANNING CA 92220 RIVERSIDE
803303280 MARGARETIS 51510 EISENHOWER DRIVE LA QUINTA CA 92253 RIVERSIDE
903300555 DE LOS REYES 135 CLYDESDALE DRIVE VALLEJO CA 94591 SOLANO
903300558 ORLANDO 330 S.THIRD STREET SAN JOSE CA 95112 SANTA CLARA
1003300212 LONNING 511 NE A STREET GRANTS PASS OR 97526 JOSEPHINE
1003300249 HUCKABA 7234 N. APPLEGATE ROAD GRANTS PASS OR 97527 JOSEPHINE
1703300159 LONG EAST 382 PINEDIROSA ROAD UNION WA 98592 MASON
1703300175 YOUNG 654 JEFFRIES ROAD CHEHALIS WA 98532 LEWIS
1703300728 BJORK 12803 NORTHEAST 142ND PLACE KIRKLAND WA 98034 KING
1703300968 MCMAHON 20021 117TH STREET EAST SUMNER WA 98390 PIERCE
1703301102 CLARK 970 SOUTHEAST LAKEWAY BLVD. PORT ORCHARD WA 98366 KITSAP
1703301153 MORRIS 1419 SOUTH GRANT AVENUE TACOMA WA 98405 PIERCE
1703301173 SMALLEY 8928 FIGBERRY COURT SOUTHEAST YELM WA 98597 THURSTON
1703301178 MORRIS 1913 SOUTH AINSWORTH AVENUE TACOMA WA 98405 PIERCE
1703301350 HANSEN 703 EAST MONTGOMERY AVENUE SPOKANE WA 99207 SPOKANE
203302203 RILEY 751 WEST 9TH AVENUE LONGMONT CO 80501 BOULDER
303304822 TORRES 775 SANDPIPER AVENUE NE SALEM OR 97301 MARION
303306179 SNEDEKER 700 N BROADWAY ST ESTACADA OR 97023 CLACKAMAS
303306297 JOHNSON 21020 SW YOUNG AVE BEND OR 97701 DESCHUTES
303306360 LEE 2707 TONEY LANE CAMBRIDGE ID 83610 WASHINGTON
603301520 GONZALES 3410 HELMS AVENUE CULVER CITY CA 90232 LOS ANGELES
703301335 THOMPSON, JR. 257 HEARTHSIDE LANE MOCKSVILLE NC 27028 DAVIE
803302377 ROBERTS 2476 NORTH LENNOX STREET POMONA CA 91767 LOS ANGELES
903300829 ROBLES 19261 AVENUE 18 1/2 MADERA CA 93637 MADERA
1703300678 ANDERSEN 3207 SOUTHEAST BADGER LANE PORT ORCHARD WA 98366 KITSAP
1703300821 RAWLINGS 16819 POLLACK DRIVE LAKEBAY WA 98349 PIERCE
103301004 RICHARD 5130 SOUTH EMERALD CHICAGO IL 60609 COOK
103301008 RICHARD 5320 SOUTH BISHOP CHICAGO IL 60609 COOK
303305389 KINNAIRD 19425 CALICO ROAD BEND OR 97702 DESCHUTES
303305758 KNIFFIN 7314 N.E. 131ST AVE VANCOUVER WA 98682 CLARK
303305768 POWELL 167 NE STAFFORD STREET PORTLAND OR 97211 MULTNOMAH
603301416 PRINCE 39 RIDGE CIRCLE ROAD BUCKS LAKE CA 95971 PLUMAS
603301431 BRASSFIELD 4815 FORMAN AVENUE LOS ANGELES CA 91601 LOS ANGELES
703301321 BAILEY 870 TOB HILTON ROAD THOMASVILLE NC 27360 DAVIDSON
803302007 UGALE 1325 NORTH SCHOOL STREET HONOLULU HI 96817 HONOLULU
803302745 SCHATZBERG 59-404 MAKANA ROAD HALEIWAI HI 96712 HONOLULU
803303123 BROWN 12396 LORAINE AVENUE CHINO CA 91710 SAN BERNARDINO
903300668 ATHWAL 12660 SOUTH FIG AVENUE CARUTHERS CA 93609 FRESNO
903300694 MANES 390 KNOB HILL AVENUE OROVILLE CA 95966 BUTTE
903300930 BARRAGAN 4547 EAST WOODWARD AVENUE FRESNO CA 93702 FRESNO
903300966 BROWN 2340 SOUTH BARDELL STREET FRESNO CA 93706 FRESNO
1703301137 SILVIUS 8447 MCNIECE DRIVE SOUTHEAST YELM WA 98597 THURSTON
1703301344 RALLS 15915 CANARY PLACE SE OLALLA WA 98359 KITSAP
1703301415 DUNSING 503 WEST 11TH AVENUE ELLENSBURG WA 98926 KITTITAS
2003300410 LEMIEUX 10025 Blue Lake Road Twin Lake MI 49457 MUSKEGON
103301210 BIGGINS 1541 560TH STREET STORM LAKE IA 50588 BUENA VISTA
303306038 VINCENT 19650 BAKER ROAD BEND OR 97702 DESCHUTES
803302675 LONG 59455 NORMAN HILLS ROAD ANZA AREA CA 92539 RIVERSIDE
903300438 SNYDER 9196 GROVE STREET ELK GROVE CA 95624 SACRAMENTO
2003300439 WILSON 1949 JEFFERSON MUSKEGON MI 49442 MUSKEGON
303306101 BARNES 255 SE OAK ST HILLSBORO OR 97123 WASHINGTON
303306116 LAURYAN 92779 JONES ACRES RD SPRINGFIELD OR 97477 LANE
303306416 SEIBERT 1005 NE 85TH AVENUE VANCOUVER WA 98664 CLARK
503300758 MOREIRA 15747 MARLIN PLACE VAN NUYS AREA CA 91406 LOS ANGELES
703301261 BARBER 331 TWELVE OAKS DRIVE LINWOOD NC 27299 DAVIDSON
803302538 PORTELA 85-046 B ARMY STREET WAIANAE HI 96792 HONOLULU
803302564 EVANS 13744 SOUTH 2120 WEST RIVERTON UT 84065 SALT LAKE
803303018 EWING 25463 ECHO VALLEY ROAD HOMELAND AREA CA 92548 RIVERSIDE
803303060 FORD 20490 MACK STREET PERRIS CA 92570 RIVERSIDE
803303300 KELSEY 28975 POTOMAC DRIVE LAKE ARROWHEAD CA 92352 SAN BERNARDINO
903300609 LEBEL 5472 EAST ASHCROFT AVENUE FRESNO CA 93727 FRESNO
903300851 HOVANNISIAN 3811 EAST LIBERTY AVENUE FRESNO CA 93702 FRESNO
903300889 MATHEWSON 1317 EL CAJON COURT LOS BANOS CA 93635 MERCED
1003300159 COPPOCK 504 SHERWOOD AVENUE CAVE JUNCTION OR 97523 JOSEPHINE
1003300274 JOHNSON 2531 E. GREGORY RD. CENTRAL POINT OR 97502 JACKSON
1703301570 FANCHER WEST 341 HAVEN DRIVE ELMA WA 98541 MASON
103301427 PECK 3164 POPPLETON ROAD VERONA NY 13162 ONEIDA
303304308 EWING 12160 NW LOVEJOY ST PORTLAND OR 97229 WASHINGTON
303305450 PORTER 19224 SHOSHONE ROAD BEND OR 97702 DESCHUTES
303305611 HARDCASTLE 55995 WOOD DUCK DRIVE BEND OR 97707 DESCHUTES
303306192 DYLER 16784 SW ROOSEVELT AVENUE LAKE OSWEGO OR 97035 CLACKAMAS
803303025 METTLER 5438 COCONINO GOLDEN SHORES AZ 86440 MOHAVE
1003300235 KOHLSAAT-MORGAN 9900 LOWER RIVER ROAD GRANTS PASS OR 97526 JOSEPHINE
3003300393 WEICK 11602 GALLERIA DRIVE TAMPA FL 33624 HILLBOROUGH
303305896 WALKER 701 EAST 900 SOUTH ST. GEORGE UT 84790 WASHINGTON
603301099 THIBEAULT 570 EXPERIMENT STATION ROAD MEDFORD OR 97501 JACKSON
603301202 HILSTRUM 15551 STATE ROUTE 410 NACHES WA 98937 YAKIMA
603301455 IRISH 32761 COX ROAD SUN CITY CA 92584 RIVERSIDE
603301515 CRAVENS 5290 EL RIVINO ROAD RIVERSIDE CA 92509 RIVERSIDE
603301677 PEOPLES, JR. 1065 RANKIN DRIVE MILPITAS CA 95035 SANTA CLARA
703301390 GONZALEZ 11502 S.W. 175 STREET MIAMI FL 33157 DADE
803302756 HUNT 21251 LEMON STREET LAKE ELSINORE AREA CA 92530 RIVERSIDE
803302917 MCFARLAND 14621 HARPER STREET MIDWAY CITY AREA CA 92655 ORANGE
803303087 REED 98-512 (B) KAMAHAO PLACE PEARL CITY HI 96782 HONOLULU
803303117 GRIFFIN 9089 MONO ROAD PHELAN AREA CA 92371 SAN BERNARDINO
903300697 POORE 31167 SPEARHEAD ROAD PRATHER CA 93651 FRESNO
1003300071 SHIELL 1700 HAPPY VALLEY ROAD ROSEBURG OR 97470 DOUGLAS
1703300807 LARSON 8516 196TH STREET SOUTHWEST EDMONDS WA 98026 SNOHOMISH
1703301058 SMITH SOUTH 18821 SMYTHE ROAD SPANGLE WA 99031 SPOKANE
1703301424 BRADLEY 4725 CENTER ROAD CHIMACUM WA 98325 JEFFERSON
203301796 CRONE 3029-3031 MEDINA STREET IRVING TX 75062 DALLAS
203301805 CRONE 3023-3025 MEDINA STREET IRVING TX 75062 DALLAS
303305833 PETZ 40 SW HENRY DRIVE BEAVERTON OR 97005 WASHINGTON
303305846 MILLER 5901 SE FIRST AVE NEW PLYMOUTH ID 83655 PAYETTE
503300673 GARCIA 21301 ROSSFORD AVENUE LAKEWOOD CA 90715 LOS ANGELES
803302545 SANCHEZ 39726 RANCHWOOD DRIVE MURRIETA CA 92563 RIVERSIDE
803302750 THARP 464 NORTH HIGHWAY 143 BRIANHEAD UT 84719 IRON
803302911 ZAHARIAS 4815 WEST 4250 SOUTH WEST VALLEY CITY UT 84120 SALT LAKE
103301324 ZOLD 1231 MARQUETTE STREET RACINE WI 53404 RACINE
103301370 BARRY 651 GREENWOOD ROAD NORTHBROOK IL 60062 COOK
200601369 GOLBERT 165 FOREST STREET DENVER CO 80220 DENVER
203302210 RUGUONE 4121 SOUTH KHE SANH LANE TUSCON AZ 85746 PIMA
603301191 DEMENT 665 MAGNOLIA WAY RENO NV 89506 WASHOE
603301325 CARMAN 28985 BLANIK AVENUE NUEVO CA 92567 RIVERSIDE
603301548 REECE 9304 SOUTH SAN PEDRO STREET LOS ANGELES CA 90003 LOS ANGELES
703300984 SIMARD 1950 MYRTLE DRIVE BUILDING D EAST POINT GA 30311 FULTON
703300987 SIMARD 1950 MYRTLE DRIVE BUILDING D EAST POINT GA 30311 FULTON
800602505 TANNER 12412 SOUTH 1510 WEST RIVERTON UT 84065 SALT LAKE
800602762 WALTER 21210 ELMWOOD STREET PERRIS AREA CA 92570 RIVERSIDE
803302730 HEADMAN 6350 WEST CHATTERLEIGH AVENUE WEST VALLEY CITY UT 84120 SALT LAKE
803302738 KUNISAKI 1580 ALAKO STREET WAILUKU HI 96793 MAUI
803302963 HENRY 21820 DOROTHY LANE LAKE ELSINORE AREA CA 92530 RIVERSIDE
803303101 DE JESUS 87-1777 MOHIHI STREET WAIANAE HI 96792 HONOLULU
903300541 IBEA 2622 S VAN BUREN STREET STOCKTON CA 95206 SAN JOAQUIN
903300758 SUTTON 3985 N. KAVANAUGH AVENUE FRESNO CA 93705 FRESNO
903300853 HOVANNISIAN 1329 E. OLIVE AVENUE FRESNO CA 93278 FRESNO
903300857 HOVANNISIAN 7175 AVENUE 308 GOSHEN CA 93227 TULARE
903300860 HOVANNISIAN 2540 BARTON SQUARE WEST FRESNO CA 93725 FRESNO
1003300243 FULLER 4007 N. KILPATRICK ST. PORTLAND OR 97203 MULTNOMAH
1003300252 WESTFALL 218 N. SECOND STREET TALENT OR 97540 JACKSON
1203300042 ROTHMAN 6814 N. TRIPP LINCOLNWOOD IL 60646 COOK
1703300816 HAWN NORTHEAST 271ST ERICKSON DRIVE TAHUYA WA 98588 MASON
1703300864 MORLEY 11830 PENNY LANE SOUTHEAST YELM WA 98597 THURSTON
1703300914 SEARS 18214 DRIFTWOOD DRIVE EAST SUMNER WA 98390 PIERCE
1703301080 BACKMAN 20302 69TH AVENUE EAST SPANAWAY WA 98387 PIERCE
2003300393 TOKATLIAN 5110 NE 26TH AVE FT. LAUDERDALE FL 33308 BROWARD
303305459 CHAMBERLAIN 234 N. 5TH ST. ST. HELENS OR 97051 COLUMBIA
3003300374 MOUNIVONG 1770 WEST WILLIAMS STREET BANNING CA 92220 RIVERSIDE
3003302047 BELL-KLEIN 793 NATALIE LANE PALM HARBOR FL 34683 PINELLAS
303306636 FREEMAN 24956 BACHELOR LANE BEND OR 97701 DESCHUTES
603301596 DUGGAN KANSAS ROAD MILBRIDGE ME 4658 WASHINGTON
803303129 HARRISON 3705 KIESEL AVENUE SOUTH OGDEN UT 84405 WEBER
903300983 KRAMER 17608 HIGHWAY 116 GUERNEVILLE CA 95446 SONOMA
3003300396 HOLLENBECK 1904 ELKHORN DRIVE OURAY CO 81427 OURAY
103301187 CLANCY RR #9 BOX 99B BLOOMFIELD IA 52537 DAVIS
103301330 WEEKS 5423 MINERAL WELLS ROAD MEMPHIS TN 38141 SHELBY
203301907 MILLER 410 AND 412 INCA STREET DENVER CO 80204 DENVER
203301979 POWELL 9139 HIGHWAY 172 IGNACIO CO 81137 LA PLATA
203302165 LETEY 2738 B.5 ROAD GRAND JUNCTION CO 81503 MESA
303305245 AGOSTO 800 & 802 HARRISON ST. LEBANON OR 97355 LINN
303305635 PAUL 1058 NE DEKUM STREET PORTLAND OR 97211 MULTNOMAH
703301286 CRUMP 1950 MYRTLE DRIVE EAST POINT GA 30311 FULTON
703301329 CRUMP 1950 MYRTLE DRIVE EAST POINT GA 30311 FULTON
803302248 SCHARFENBERG 6970 WILLIAMS STREET CORONA AREA CA 91719 RIVERSIDE
1003300276 RIOS 13368 THREE OAKS DRIVE WHITE CITY OR 97503 JACKSON
303306232 HUFF 15820 RAINBOW DRIVE CROOKED RIVER RANCH OR 97760 JEFFERSON
803302953 CHUN 46-035 KUNEKI PLACE KANEOHE HI 96744 HONOLULU
803303148 BENNETT 5427 SHIRLEY AVENUE TARZANA CA 91356 LOS ANGELES
1203300022 COLLINS 6749 S. SANGAMON STREET CHICAGO IL 60621 COOK
103301456 VADNAIS 2531 NORTHDALE BLVD COON RAPIDS MN 55433 ANOKA
203301997 BOLLENBERGHE 122 NORTH SEVENTH STREET COLORADO SPRINGS CO 80903 EL PASO
203302095 DELP 4340 SOUTH DEAVER ROAD TUCSON AZ 85746 PIMA
203302226 HILL 1100 HI MEADOW DRIVE BAILEY CO 80421 PARK
203302270 CRAWFORD 1263 WINSLOW CIRCLE LONGMONT CO 80501 BOULDER
303305964 LEE 908 EAST LIBERTY STREET WEISER ID 83672 WASHINGTON
303306069 OHNSTAD 4538 INDEPENDENCE DR SE SALEM OR 97302 MARION
503300766 ZVEKAN 6323 LONGRIDGE AVENUE VAN NUYS AREA CA 91401 LOS ANGELES
603301479 COYLE 35389 S.E. DIVERS ROAD ESTACADA OR 97023 CLACKAMAS
603301670 SMITH 13349 PRECIADO AVENUE CHINO CA 91710 SAN BERNARDINO
703301407 STATON 20 MILLINGTON STREET MT. VERNON NY 10553 WESTCHESTER
1703300842 BETTIS 3117 248TH STREET COURT EAST SPANAWAY WA 98387 PIERCE
1703301180 FARNSWORTH, JR 243604 EAST 672 PR SOUTHEAST KENNEWICK WA 99337 BENTON
1703301463 GIBSON 609 WEST BONNEVILLE STREET PASCO WA 99301 FRANKLIN
3003300382 HARLEY 3401 AVENUE R RIVERA BEACH FL 33404 PALM BEACH
200602058 BACA 1930 EAST 8TH STREET PUEBLO CO 81001 PUEBLO
203302282 KLAUSING 9 SEDUM COURT PUEBLO CO 81001 PUEBLO
603201370 WARREN 19804 KINZIE STREET CHATSWORTH CA 91311 LOS ANGELES
603301287 BAKER 11140 FOX SPRINGS ROAD MURRIETA CA 92562 RIVERSIDE
603301606 LITTLE 3600 JACKSON BLVD. FORT LAUDERDALE FL 33312 BROWARD
803302931 WILLIAMSON 2785 NORTH 4100 WEST CORRINE UT 84307 BOX ELDER
1703301077 HORNER, JR. 3604 PREBLE STREET BREMERTON WA 98312 KITSAP
3003300313 PUCKETT 2204 CLIFTON AVENUE SPRINGFIELD OH 45502 CLARK
3003300319 PUCKETT 426 NORTH BURNETT ROAD SPRINGFIELD OH 45503 CLARK
3003300345 CROSS 3932 SPRINGFIELD DRIVE MEMPHIS TN 38128 SHELBY
303305823 CAIN 7735 SW 175TH PLACE ALOHA OR 97006 WASHINGTON
803302938 BUTLER 29703 EAGLE POINT DRIVE CANYON LAKE CA 92587 RIVERSIDE
3003300398 ROGERS 452 HOLLY STREET N.W. ATLANTA GA 30318 FULTON
603301375 PATTON 2181 SLEEPY HOLLOW ROAD SHINGLE SPRINGS CA 95682 EL DORADO
1703301292 UNGER 14250 PIONEER WAY SOUTHEAST OLALLA WA 98359 KITSAP
103301107 SWAIN 3054-3056 BLOOMINGTON AVENUE SOUTH MINNEAPOLIS MN 55407 HENNEPIN
103301177 ROBINSON 675 WILLIAMS AVENUE MEMPHIS TN 38126 SHELBY
203302178 NOBLE 3195 F. ROAD GRAND JUNCTION CO 81504 MESA
603301316 FILIPIAK 14347 CAMPBELL POSEN IL 60469 COOK
603301729 MORGAN 33883 ROW RIVER ROAD COTTAGE GROVE OR 97424 LANE
903300881 BALLEW 1404 WESLEY LANE AUBURN CA 95603 PLACER
1703301194 PULLMAN 878 BEAVER TRACTS LANE FRIDAY HARBOR WA 98250 SAN JUAN
203200604 HANSEN 122 AHRENS AVENUE CHEYENNE WY 82007 LARAMIE
103301673 MYRICK 629 SOUTH 25TH STREET SAGINAW MI 48601 SAGINAW
603301389 SCOTT 1065 CONCHA STREET ALTADENA AREA CA 91001 LOS ANGELES
303305681 GRAHAM JR 6606 NE ROSELAWN STREET PORTLAND OR 97218 MULTNOMAH
903300616 STITES 860 HUNTER LANE SANTA ROSA CA 95404 SONOMA
903300866 GUILLEN 826 EAST CLEVELAND AVENUE PORTERVILLE CA 93257 TULARE
1703301474 GARCIA SKYVIEW DRIVE #5 BOARDMAN OR 97818 MORROW
703301349 SANDERS 2340 MARK TRAIL DECATUR GA 30032 DEKALB
603301525 FLORES 2821 CONSOL AVENUE ELMONTE CA 91733 LOS ANGELES
703301218 WRIGHT 821 ALAMANDA COURT PLANTATION FL 33317 BROWARD
2003300433 HOUGHTALING 2228 PECK ST. MUSKEGON HEIGHTS MI 49444 MUSKEGON
203301929 RAVEN 6501 EAST 78TH WAY COMMERCE CITY CO 80022 ADAMS
303304487 PITTS 60270 ROBINETTE ROAD ST HELENS OR 97051 COLUMBIA
903300651 PEREZ 9127 WALKER COURT REEDLEY CA 93654 FRESNO
103301658 COWINS 5931 MCCLELLAN AVENUE DETROIT MI 48213 WAYNE
703301035 DOUGHERTY 169-07 HIGHLAND AVENUE JAMAICA ESTATES NY 11432 QUEENS
903300750 SPIKER 1780 SOUTH BLACKSTONE STREET TULARE CA 93274 TULARE
103301230 NEWBORN 6 SOUTH HOLMES STREET MEMPHIS TN 38111 SHELBY
3003200242 JIMENEZ 8921 SOUTH TEWA TRAIL TUCSON AZ 85747 PIMA
3003300388 ESHBACH 2886 SHIRE DRIVE POTTSTOWN PA 19464 MONTGOMERY
3103302042 RAMDIN 104-27 124TH STREET JAMAICA ESTATES NY 11419 QUEENS
3103302399 HUNSICKER 1125 SOUTH LUMBER STREET ALLENTOWN PA 18103 LEHIGH
LOANID NAME LTV MTDATE ORIGBAL RATE PANDI 8_1BAL ASSUME PREPAY
- ------ ---- --- ------ ------- ---- ----- ------ ------ ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
303305374 HOWARD 55.3 6/1/11 47000 9.75 497.9 46,883.98 N Y
303305939 CHEWNING 59.74 6/1/11 89000 9.75 942.83 88,680.30 N N
1003300170 JONES 65 6/1/11 68900 9.75 729.9 68,729.91 N Y
803302678 KING 73.92 6/1/11 85000 9.875 906.93 84,792.55 N Y
803302735 MCGARVEY 80 6/1/26 332000 9.875 2882.92 331,849.16 N N
303305699 KUENZI 61.12 7/1/11 77000 10 827.45 77,000.00 N Y
1703301117 MARTIN 62.21 6/1/11 53500 10 574.91 53,370.92 N Y
303305836 ALLPORT 63.48 6/1/26 73000 10.125 647.38 72,968.56 N N
803302560 WILLIAMS 40.91 6/1/26 45000 10.125 399.07 44,980.62 N Y
803302786 CASTLEBERRY 45.84 6/1/26 55000 10.125 487.75 54,976.31 N Y
1703300945 BECK 70 6/1/26 50400 10.125 446.96 50,378.29 N Y
603301156 ELLISON 60 6/1/11 36600 10.25 327.97 36,584.66 N Y
803302865 SCHACHT 80 7/1/11 82000 9.75 497.9 82,000.00 N Y
303305212 LANDER 75.87 6/1/26 176000 10.375 1593.52 175,921.67 N Y
303305564 MURRISON 80 6/1/26 66800 10.375 604.81 66,772.73 N Y
303305960 KRIEMHILD 50 6/1/26 50000 10.375 452.7 49,979.59 N N
303305972 HAGEN 62.97 7/1/26 85000 9.875 2882.92 85,000.00 N N
303305998 CORNWELL 70 7/1/26 45850 10 827.45 45,850.00 N Y
303306030 LEIGH 64.71 6/1/26 55000 10 574.91 55,000.00 N Y
303306341 PONCE 59.09 7/1/26 65000 10.125 647.38 65,000.00 N Y
303306357 BARBEE 54.67 7/1/26 41000 10.125 399.07 41,000.00 N Y
303306455 WRIGHT 65 7/1/26 85475 10.125 487.75 85,475.00 N Y
903300631 PARKER 80 6/1/26 130400 10.125 446.96 130,400.00 N Y
1703301128 COX 78.91 6/1/26 101000 10.25 398.92 101,000.00 N Y
1703301277 INGSTAD 61.77 7/1/26 52500 10.25 893.76 52,500.00 N Y
1703301499 DONNER 70 7/1/26 52500 10.375 1593.52 52,500.00 N Y
2003300342 PETERSON 77.08 6/1/26 113300 10.375 604.81 113,300.00 N N
2003300415 CARRIERE 66.25 7/1/26 53000 10.375 452.7 53,000.00 N N
3003300380 WONGUS 75 5/1/11 135750 10.375 769.6 135,750.00 N Y
303305085 GALLAGHER 80 5/1/26 40000 10.375 415.13 40,000.00 N Y
303305508 ROY 57.15 6/1/11 40000 10.375 497.97 40,000.00 N N
303305865 ADAME 80 6/1/11 64800 10.375 588.51 64,800.00 N Y
303306046 HINSHAW 75 6/1/26 47250 10.375 371.22 47,250.00 N Y
303306305 POOLE 67 6/1/11 40200 10.375 773.9 40,200.00 N N
303306471 COX 55.56 7/1/11 50000 10.375 1180.65 50,000.00 N Y
603301756 WASHINGTON 60 7/1/26 75000 10.375 914.46 75,000.00 N Y
803302717 VALERIO 85 6/1/11 107100 10.375 475.34 107,100.00 N Y
803303081 PEKAREK 75 7/1/26 75000 10.375 475.34 75,000.00 N Y
903300725 VILLARREAL 70 7/1/11 47565.2 10.375 1025.83 47,565.20 N Y
1003300225 DAVIS 50 6/1/11 40000 10.375 479.87 40,000.00 N Y
1703300442 THOMAS 71.86 6/1/26 97000 10.375 1229.09 97,000.00 N Y
1703301367 RODMAN 70 7/1/11 63000 10.5 365.9 63,000.00 N Y
1703301422 RUBY 65 7/1/26 58500 10.5 442.16 58,500.00 N Y
203302100 HERRERA 68.19 6/1/11 45000 10.5 716.3 45,000.00 N Y
303305391 KINNAIRD 55.26 6/1/26 43100 10.5 432.21 43,100.00 N N
303306270 PROUT 80 7/1/26 100000 10.5 444.37 100,000.00 N Y
603301373 NANCE 70 6/1/26 43050 10.5 552.7 43,050.00 N Y
603301406 MCKENZIE 80.41 6/1/26 148750 10.5 686.05 148,750.00 N Y
603301422 HOSTETLER 85 6/1/26 130900 10.5 1183.88 130,900.00 N Y
703301247 RIVERA 80 6/1/26 76800 10.5 686.05 76,800.00 N Y
703301430 HALL 80 7/1/26 98400 10.5 525.79 98,400.00 N N
803302533 WILLET 85 6/1/26 111350 10.5 442.16 111,350.00 N N
803302696 BAUM 85 6/1/26 350200 10.5 887.3 350,200.00 N Y
803303105 PETERSEN 80 7/1/26 40000 10.5 696.4 40,000.00 N Y
1003300176 KUSEL 70 6/1/26 64400 10.5 535.12 64,400.00 N Y
1203300006 BASURA 57.61 6/1/26 53000 10.625 500.92 53,000.00 N N
1703300544 REYNOLDS 85 6/1/26 74800 10.625 398.29 74,800.00 N Y
1703300720 STREEPY 64.75 6/1/26 101000 10.625 924.1 101,000.00 N N
1703300927 MATESKI 82.04 6/1/26 92700 10.625 397.82 92,700.00 N N
803302426 BERTANI 75 6/1/26 63750 10.625 1374.6 63,750.00 N Y
803302640 SHINER 75 6/1/26 64875 10.625 1209.64 64,875.00 N Y
1003300221 MORRISON 75 6/1/26 117000 10.625 709.71 117,000.00 N Y
1703301391 VANDERVEEN 60.59 7/1/11 51500 10.625 909.31 51,500.00 N Y
1703301398 HAY 65 7/1/11 48750 10.625 1028.98 48,750.00 N Y
3003200227 GONZALEZ 52.46 4/24/11 22000 10.625 3236.19 22,000.00 N Y
103301109 SCHEERER 70 6/1/26 140000 10.625 369.64 140,000.00 N Y
103301575 MILLER 33.34 7/1/26 25000 10.625 595.12 25,000.00 N Y
303304184 HAYS 64.93 6/1/26 42200 10.625 489.77 42,200.00 N Y
303304846 HUSTED 82.07 6/1/26 95200 10.625 691.22 95,200.00 N Y
303305012 CEASER 59.45 6/1/26 53500 10.625 933.34 53,500.00 N Y
303306072 BROWN 57.15 6/1/26 100000 10.625 856.64 100,000.00 N N
303306077 JOHN 70.15 7/1/26 47000 10.75 595.09 47,000.00 N Y
303306244 ECKERT 60 7/1/26 96000 10.75 605.6 96,000.00 N N
303306335 STACEY 70 7/1/26 44100 10.75 1092.17 44,100.00 N Y
303306350 RUCKER 85 7/1/26 85000 10.75 577.29 85,000.00 N Y
603301444 RASMUSSEN 80 6/1/26 157600 10.75 546.46 157,600.00 N Y
803301644 SCOTT 57.78 7/1/26 52000 10.75 246.61 52,000.00 N Y
803302275 HAYNES 57.15 6/1/26 20000 10.875 1320.05 20,000.00 N Y
803302481 HERNANDEZ 80 6/1/26 88000 10.875 235.72 88,000.00 N N
803302685 BOOZ 70 5/1/26 131250 10.875 397.9 131,250.00 N Y
803302825 OPPELT 85 6/1/26 55250 10.875 897.63 55,250.00 N Y
803302830 JONES 70 6/1/26 31500 10.875 504.45 31,500.00 N Y
803302991 SAHAGUN 69.58 6/1/26 115500 10.875 942.89 115,500.00 N Y
803303158 WARE 85 7/1/26 68000 10.875 443.16 68,000.00 N Y
803303280 MARGARETIS 51.29 7/1/26 60000 10.875 905.17 60,000.00 N Y
903300555 DE LOS REYES 85 6/1/26 170000 10.875 1602.91 169,937.72 N Y
903300558 ORLANDO 63.5 6/1/26 400000 10.875 3771.56 399,853.44 N N
1003300212 LONNING 85 6/1/26 73950 10.875 697.27 73,922.90 N Y
1003300249 HUCKABA 62.15 7/1/26 87000 10.875 87,000.00 N N
1703300159 LONG 68.15 7/1/26 92000 10.875 867.46 92,000.00 N Y
1703300175 YOUNG 53.34 6/1/26 80000 10.875 754.31 79,970.69 N Y
1703300728 BJORK 80 6/1/26 148000 10.875 1395.48 147,945.77 N Y
1703300968 MCMAHON 70 6/1/26 44800 10.875 422.41 44,783.59 N Y
1703301102 CLARK 61.85 6/1/11 47000 10.875 530.52 46,895.42 N Y
1703301153 MORRIS 70 6/1/26 46200 10.875 435.62 46,183.07 N Y
1703301173 SMALLEY 85 7/1/26 68000 10.875 641.17 68,000.00 N Y
1703301178 MORRIS 70 6/1/26 57400 10.875 565.73 57,400.00 N Y
1703301350 HANSEN 85 7/1/26 63750 10.875 1602.91 63,750.00 N Y
203302203 RILEY 75 7/1/26 60750 10.875 3771.56 60,750.00 N Y
303304822 TORRES 64.29 6/1/11 49500 10.875 697.27 49,500.00 N Y
303306179 SNEDEKER 73 6/1/26 68620 10.875 820.31 68,620.00 N Y
303306297 JOHNSON 75 7/1/26 123750 10.875 867.46 123,750.00 N Y
303306360 LEE 75 7/1/26 108375 10.875 754.31 108,375.00 N Y
603301520 GONZALES 75 6/1/26 116250 10.875 1395.48 116,250.00 N Y
703301335 THOMPSON, JR. 75 7/1/26 45750 10.875 422.41 45,750.00 N N
803302377 ROBERTS 70 6/1/26 69300 10.875 530.52 69,300.00 N Y
903300829 ROBLES 70 7/1/26 84000 10.875 435.62 84,000.00 N Y
1703300678 ANDERSEN 70 7/1/26 55300 10.875 641.17 55,300.00 N Y
1703300821 RAWLINGS 58.19 6/1/11 32000 10.875 541.22 32,000.00 N Y
103301004 RICHARD 70 6/1/26 32900 11 578.54 32,900.00 N N
103301008 RICHARD 70 6/1/26 28700 11 562.62 28,700.00 N N
303305389 KINNAIRD 61.79 6/1/26 43250 11 653.48 43,250.00 N N
303305758 KNIFFIN 80 6/1/26 77600 11 1178.5 77,600.00 N Y
303305768 POWELL 50.76 6/1/26 54000 11 1032.08 54,000.00 N Y
603301416 PRINCE 80 6/1/26 124000 11 1107.08 124,000.00 N N
603301431 BRASSFIELD 85 6/1/26 191250 11 435.69 191,250.00 N Y
703301321 BAILEY 75 7/1/26 41250 11 659.96 41,250.00 N N
803302007 UGALE 74.95 6/1/26 103800 11 799.95 103,800.00 N Y
803302745 SCHATZBERG 75 6/1/26 438750 11 526.63 438,750.00 N Y
803303123 BROWN 75 7/1/26 126750 11 363.71 126,750.00 N Y
903300668 ATHWAL 70 6/1/26 280000 11.125 323.16 280,000.00 N Y
903300694 MANES 70 6/1/26 45500 11.125 316.43 45,500.00 N Y
903300930 BARRAGAN 80 7/1/26 64000 11.125 276.03 64,000.00 N Y
903300966 BROWN 75 6/1/26 42750 11.125 415.97 42,750.00 N Y
1703301137 SILVIUS 58.4 7/1/26 40000 11.125 746.34 40,000.00 N Y
1703301344 RALLS 80 7/1/26 80000 11.125 519.36 80,000.00 N N
1703301415 DUNSING 90 7/1/26 95400 11.125 1192.61 95,400.00 N Y
2003300410 LEMIEUX 74.89 7/1/26 48600 11.125 1839.41 48,600.00 N Y
103301210 BIGGINS 57.15 6/1/26 40000 11.125 396.73 40,000.00 N N
303306038 VINCENT 69.96 7/1/11 44000 11.125 998.33 44,000.00 N Y
803302675 LONG 75 5/1/26 97500 11.125 4219.81 97,500.00 N N
903300438 SNYDER 73.04 6/1/26 65000 11.125 1219.06 65,000.00 N Y
2003300439 WILSON 65 7/1/11 14950 11.125 2692.99 14,950.00 N Y
303306101 BARNES 90 6/1/26 73800 11.125 437.61 73,800.00 N Y
303306116 LAURYAN 70 7/1/26 65100 11.125 615.54 65,100.00 N N
303306416 SEIBERT 70.91 7/1/26 78000 11.125 411.16 78,000.00 N Y
503300758 MOREIRA 90 6/1/26 86310 11.125 384.71 86,310.00 N Y
703301261 BARBER 85 6/1/26 46750 11.125 785.43 46,750.00 N N
803302538 PORTELA 68.75 5/1/26 110000 11.125 917.54 110,000.00 N Y
803302564 EVANS 78.03 5/1/26 87000 11.125 467.43 87,000.00 N Y
803303018 EWING 65 7/1/26 31850 11.25 388.5 31,850.00 N Y
803303060 FORD 65 7/1/26 39000 11.25 507.03 39,000.00 N Y
803303300 KELSEY 80 7/1/26 127200 11.25 946.98 127,200.00 N Y
903300609 LEBEL 75 6/1/26 71250 11.25 631.32 71,250.00 N Y
903300851 HOVANNISIAN 70 6/1/26 42700 11.25 172.28 42,700.00 N Y
903300889 MATHEWSON 85 7/1/26 140250 11.375 723.8 140,250.00 N Y
1003300159 COPPOCK 80 6/1/26 70400 11.375 638.48 70,400.00 N N
1003300274 JOHNSON 65 7/1/26 43875 11.375 765 43,875.00 N Y
1703301570 FANCHER 70 7/1/11 52500 11.375 846.5 52,500.00 N Y
103301427 PECK 54.55 7/1/11 36000 11.375 458.51 36,000.00 N Y
303304308 EWING 43.75 6/1/26 70000 11.375 1078.84 70,000.00 N N
303305450 PORTER 66.47 7/1/26 56500 11.375 853.27 56,500.00 N Y
303305611 HARDCASTLE 70 6/1/26 76300 11.375 312.37 76,300.00 N Y
303306192 DYLER 28.58 6/1/26 40000 11.375 382.5 40,000.00 N Y
803303025 METTLER 70 7/1/11 24500 11.375 1247.53 24,500.00 N Y
1003300235 KOHLSAAT-MORGAN 75 6/1/26 94800 11.375 698.8 94,800.00 N N
3003300393 WEICK 41.12 7/1/11 37000 11.375 418.79 37,000.00 N N
303305896 WALKER 80 6/1/26 76800 11.375 1375.52 76,800.00 N Y
603301099 THIBEAULT 70 6/1/26 87500 11.375 690.46 87,500.00 N Y
603301202 HILSTRUM 75 5/1/26 93750 11.375 430.31 93,750.00 N Y
603301455 IRISH 58.5 6/1/26 46800 11.375 609.13 46,800.00 N Y
603301515 CRAVENS 90 6/1/26 90000 11.5 420.55 90,000.00 N Y
603301677 PEOPLES, JR. 90 7/1/26 262800 11.5 693.2 262,800.00 N N
703301390 GONZALEZ 90 7/1/26 110700 11.5 559.51 110,700.00 N Y
803302756 HUNT 65 6/1/26 58500 11.5 755.59 58,500.00 N Y
803302917 MCFARLAND 33.34 6/1/26 60000 11.5 396.12 60,000.00 N Y
803303087 REED 75 7/1/11 59625 11.5 286.21 59,625.00 N N
803303117 GRIFFIN 71.12 7/1/26 64000 11.5 938.8 64,000.00 N Y
903300697 POORE 62.19 6/1/26 125000 11.5 366.41 125,000.00 N Y
1003300071 SHIELL 45.84 6/1/26 55000 11.625 767.88 55,000.00 N Y
1703300807 LARSON 80 6/1/26 67200 11.625 874.86 67,200.00 N Y
1703301058 SMITH 70 6/1/26 59500 11.625 937.35 59,500.00 N Y
1703301424 BRADLEY 68.9 7/1/26 87500 11.625 467.93 87,500.00 N Y
203301796 CRONE 75 6/1/26 82875 11.625 899.86 82,875.00 N Y
203301805 CRONE 75 6/1/26 82875 11.625 2627.58 82,875.00 N Y
303305833 PETZ 61.92 6/1/26 74300 11.625 1106.82 74,300.00 N Y
303305846 MILLER 60.67 6/1/26 45500 11.625 584.91 45,500.00 N Y
503300673 GARCIA 50.73 7/1/26 70000 11.625 599.9 70,000.00 N Y
803302545 SANCHEZ 70 6/1/26 115500 11.625 701.28 115,500.00 N Y
803302750 THARP 75 6/1/26 31125 11.625 639.9 31,125.00 N Y
803302911 ZAHARIAS 70 6/1/26 60200 11.625 1249.8 60,200.00 N Y
103301324 ZOLD 70 6/1/26 56000 11.625 549.91 56,000.00 N Y
103301370 BARRY 44.68 6/1/26 105000 11.625 671.89 105,000.00 N N
200601369 GOLBERT 85 7/1/26 242250 11.625 594.9 242,250.00 N Y
203302210 RUGUONE 70 7/1/26 42000 11.625 874.86 42,000.00 N Y
603301191 DEMENT 77.52 6/1/26 50000 11.75 836.55 50,000.00 N Y
603301325 CARMAN 75 5/1/26 46650 11.75 836.55 46,650.00 N Y
603301548 REECE 70 6/1/26 77000 11.75 749.99 77,000.00 N Y
703300984 SIMARD 80 6/1/26 98400 11.75 459.28 98,400.00 N Y
703300987 SIMARD 80 6/1/26 98400 11.75 706.59 98,400.00 N Y
800602505 TANNER 82.07 7/1/26 119000 11.75 1165.87 119,000.00 N Y
800602762 WALTER 75 7/1/26 255000 11.75 314.18 255,000.00 N Y
803302730 HEADMAN 80 6/1/26 97600 11.875 994.54 97,571.29 N N
803302738 KUNISAKI 65 6/1/26 97500 11.875 993.53 97,471.31 N Y
803302963 HENRY 70 6/1/26 31500 11.875 320.99 31,490.73 N Y
803303101 DE JESUS 34.87 6/1/26 62750 11.875 639.42 62,731.44 N Y
903300541 IBEA 85 6/1/26 67575 11.875 688.59 67,555.12 N Y
903300758 SUTTON 80 6/1/26 68000 11.875 692.92 67,980.00 N Y
903300853 HOVANNISIAN 60 7/1/26 39000 11.875 397.41 38,988.53 N Y
903300857 HOVANNISIAN 70 6/1/26 35700 11.875 363.78 35,689.50 N Y
903300860 HOVANNISIAN 70 6/1/26 31500 11.875 320.99 31,490.73 N Y
1003300243 FULLER 55 7/1/26 48400 11.875 1002.7 48,400.00 N Y
1003300252 WESTFALL 78 6/1/26 70200 11.875 1212.61 70,200.00 N Y
1203300042 ROTHMAN 54 7/1/26 125820 11.875 2598.45 125,820.00 N N
1703300816 HAWN 65 7/1/26 46150 11.875 994.54 46,150.00 N Y
1703300864 MORLEY 60.52 7/1/26 47200 11.875 993.53 47,200.00 N Y
1703300914 SEARS 75 6/1/26 120000 11.875 320.99 120,000.00 N Y
1703301080 BACKMAN 80 7/1/26 48000 11.875 639.42 48,000.00 N Y
2003300393 TOKATLIAN 38.34 6/1/26 115000 11.875 688.59 115,000.00 N N
303305459 CHAMBERLAIN 48.58 6/1/26 34000 11.875 692.92 34,000.00 N Y
3003300374 MOUNIVONG 65 3/25/11 44200 11.875 397.41 44,200.00 N Y
3003302047 BELL-KLEIN 80 7/1/11 172000 11.875 363.78 172,000.00 N Y
303306636 FREEMAN 43.48 7/1/11 20000 11.875 320.99 20,000.00 N Y
603301596 DUGGAN 65 6/1/26 31200 11.875 493.2 31,200.00 N Y
803303129 HARRISON 83.61 7/1/11 51000 11.875 715.34 51,000.00 N Y
903300983 KRAMER 60 7/1/26 30000 11.875 1282.11 30,000.00 N Y
3003300396 HOLLENBECK 70 7/1/11 182000 11.875 470.27 182,000.00 N Y
103301187 CLANCY 75 6/1/26 78750 11.875 480.97 78,750.00 N N
103301330 WEEKS 90 7/1/26 40500 11.875 1222.8 40,500.00 N Y
203301907 MILLER 80 7/1/26 36000 11.875 489.12 36,000.00 N Y
203301979 POWELL 53.34 6/1/26 160000 11.875 1171.85 160,000.00 N Y
203302165 LETEY 74.65 7/1/26 53000 11.88 346.59 53,000.00 N Y
303305245 AGOSTO 70 6/1/26 123200 11.99 454.31 123,200.00 N Y
303305635 PAUL 90 6/1/26 75600 11.99 1767.89 75,600.00 N Y
703301286 CRUMP 80 7/1/26 98400 12 240.03 98,400.00 N Y
703301329 CRUMP 80 7/1/26 98400 12 320.93 98,400.00 N Y
803302248 SCHARFENBERG 65 6/1/26 71500 12 612.09 71,500.00 N Y
1003300276 RIOS 67.5 7/1/26 64125 12 308.58 64,125.00 N Y
303306232 HUFF 34.49 7/1/26 25000 12 1872.07 25,000.00 N Y
803302953 CHUN 75 6/1/11 153750 12.125 817.62 153,750.00 N Y
803303148 BENNETT 80 7/1/26 468000 12.125 420.49 468,000.00 N Y
1203300022 COLLINS 68.47 7/1/26 44500 12.125 373.77 44,500.00 N N
103301456 VADNAIS 54.55 7/1/26 60000 12.125 1661.19 60,000.00 N N
203301997 BOLLENBERGHE 70 6/1/26 94500 12.125 550.27 94,500.00 N Y
203302095 DELP 70 7/1/26 39200 12.125 1279.12 39,200.00 N Y
203302226 HILL 33.75 7/1/26 55000 12.125 784.91 55,000.00 N Y
203302270 CRAWFORD 80 7/1/26 150400 12.125 1021.63 150,400.00 N Y
303305964 LEE 65 6/1/26 33800 12.125 1021.63 33,800.00 N Y
303306069 OHNSTAD 75 7/1/26 97425 12.125 742.34 97,425.00 N Y
503300766 ZVEKAN 80 6/1/26 93600 12.125 665.77 93,600.00 N Y
603301479 COYLE 70 6/1/26 116200 12.25 261.97 116,200.00 N Y
603301670 SMITH 85 7/1/26 161500 12.25 1870.06 161,500.00 N Y
703301407 STATON 38.76 7/1/26 50000 12.25 4904.16 50,000.00 N Y
1703300842 BETTIS 65 6/1/26 55250 12.25 466.31 55,250.00 N Y
1703301180 FARNSWORTH, JR 65 7/1/26 34450 12.375 634.54 34,450.00 N Y
1703301463 GIBSON 85 7/1/26 51000 12.375 999.4 51,000.00 N Y
3003300382 HARLEY 65 2/1/11 27300 12.375 288.72 27,252.94 N Y
200602058 BACA 75 7/1/26 53250 12.5 53,250.00 N Y
203302282 KLAUSING 65 7/1/26 97500 12.375 1590.58 97,500.00 N Y
603201370 WARREN 74.87 6/1/11 70000 12.375 357.46 70,000.00 N Y
603301287 BAKER 66.12 5/1/26 297500 12.375 1030.34 297,500.00 N Y
603301606 LITTLE 75 7/1/11 43125 12.375 989.88 43,125.00 N Y
803302931 WILLIAMSON 65 6/1/11 39650 12.375 1228.89 39,650.00 N Y
1703301077 HORNER, JR. 68.23 6/1/26 36500 12.375 1707.97 36,500.00 N Y
3003300313 PUCKETT 70 2/1/26 28000 12.375 528.78 28,000.00 N N
3003300319 PUCKETT 70 2/1/26 26600 12.375 584.31 26,600.00 N N
3003300345 CROSS 90 11/1/25 217800 12.375 364.33 217,800.00 N N
303305823 CAIN 70 6/1/26 136500 12.375 539.36 136,500.00 N Y
803302938 BUTLER 80 7/1/26 448000 12.375 288.72 448,000.00 N Y
3003300398 ROGERS 60.36 7/1/11 42250 12.5 1040.58 42,250.00 N N
603301375 PATTON 74.24 6/1/26 219000 12.5 862.77 219,000.00 N Y
1703301292 UNGER 65 7/1/11 50050 12.5 3175.09 50,050.00 N Y
103301107 SWAIN 60 6/1/26 52200 12.5 531.53 52,200.00 N N
103301177 ROBINSON 60 6/1/26 21000 12.5 488.7 21,000.00 N Y
203302178 NOBLE 70 7/1/26 31150 12.5 389.55 31,150.00 N Y
603301316 FILIPIAK 65 6/1/26 79950 12.5 298.83 79,950.00 N N
603301729 MORGAN 53.34 7/1/26 40000 12.5 283.89 40,000.00 N Y
903300881 BALLEW 80 7/1/26 128000 12.55 2332.94 128,000.00 N Y
1703301194 PULLMAN 65 6/1/26 219050 12.625 1470.06 219,050.00 N Y
203200604 HANSEN 85 6/1/11 25250 12.625 4824.81 25,250.00 N N
103301673 MYRICK 85 7/1/26 33150 12.625 829.26 33,150.00 N Y
603301389 SCOTT 65 6/1/26 260000 12.625 455.02 260,000.00 N Y
303305681 GRAHAM JR 75 6/1/26 97500 12.75 2379.86 97,500.00 N Y
903300616 STITES 70 6/1/26 94500 12.75 625.04 94,500.00 N Y
903300866 GUILLEN 65 7/1/26 39650 12.875 572.34 39,650.00 N Y
1703301474 GARCIA 65 7/1/26 26650 12.875 230.25 26,650.00 N Y
703301349 SANDERS 85 7/1/11 48450 12.875 341.54 48,450.00 N Y
603301525 FLORES 85 6/1/26 100300 12.875 876.6 100,300.00 N Y
703301218 WRIGHT 75 5/1/26 96375 12.875 438.58 96,375.00 N Y
2003300433 HOUGHTALING 60 7/1/26 34200 12.875 1403.44 34,200.00 N Y
203301929 RAVEN 65 7/1/26 41275 12.875 2401.75 41,275.00 N Y
303304487 PITTS 55 6/1/26 93500 12.99 319.31 93,500.00 N Y
903300651 PEREZ 55 6/1/26 27500 13.125 369.95 27,500.00 N Y
103301658 COWINS 75 7/1/26 23250 13.125 2901.54 23,250.00 N Y
703301035 DOUGHERTY 55 7/1/26 122650 14.125 1465.39 122,650.00 N Y
903300750 SPIKER 70 6/1/26 175000 14.5 2142.97 174,971.61 N Y
103301230 NEWBORN 70 7/1/26 66500 14.875 834.21 66,500.00 N Y
3003200242 JIMENEZ 55 11/18/10 34650 14.99 834.21 33,767.96 N Y
3003300388 ESHBACH 55.47 4/1/11 66000 16.125 894.2 65,977.73 N Y
3103302042 RAMDIN 79.34 6/1/26 119000 12.18 1240.56 118,967.29 N Y
3103302399 HUNSICKER 75 7/1/26 67500 11.00 642.82 67,500.00 N N
Total Group II: $24,359,908.23
</TABLE>
<PAGE>
SOUTHERN PACIFIC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 1996-2
ATTACHMENT C TO SUBSEQUENT TRANSFER INSTRUMENT
Series 1996-2
July 15, 1996
522199-4
July 15, 1996
MBIA Insurance Corporation
113 King Street
Armonk, New York 10504
Bankers Trust Company of California, N.A.
3 Park Plaza
Irvine, California 92714
Re: MORTGAGE LOAN PURCHASE AGREEMENT DATED AS OF JULY 15, 1996
Ladies and Gentlemen:
We have acted as special counsel to Southern Pacific Secured Assets
Corp., a California corporation (the "Company"), in connection with the sale of
certain mortgage loans by Southern Pacific Funding Corporation (the "Seller") to
the Company pursuant to that certain Mortgage Loan Purchase Agreement, dated as
of July 15, 1996, between the Seller and the Company (the "Purchase Agreement"),
and the simultaneous deposit therewith by such Company of such mortgage loans
into a trust fund pursuant to that certain Subsequent Transfer Instrument (the
"Subsequent Transfer Instrument" and, together with the Purchase Agreement, the
"Documents"), dated as of July 15, 1996, between the Company and Bankers Trust
Company of California, N.A., as Trustee of the Southern Pacific Secured Assets
Corp. Mortgage PassThrough Certificates, Series 1996-2 (the "Trustee"). Our
representation has been limited solely to rendering this opinion and we have not
participated in any way in the negotiation or drafting of the Documents.
Capitalized terms not otherwise defined herein have the meanings set forth in
the Purchase Agreement.
In our capacity as such counsel, we have examined originals or
copies of those
<PAGE>
corporate and other records and documents we considered appropriate, including
the following:
A. The Documents;
B. The Company's Articles of Incorporation and Bylaws, as amended
to date; and
C. Resolutions adopted by the Board of Directors of the Company
with specific reference to actions relating to the
transactions covered by this opinion.
As to relevant factual matters, we have relied upon, among other
things, the Company's representations in certificates of the officers of the
Company. In addition, we have obtained and relied upon those certificates of
public officials we considered appropriate. Such factual matters have not been
independently established or verified by us.
Our use of the terms "known to us," "to our knowledge," or a similar
phrase to qualify a statement in this opinion means that those attorneys in this
firm who have given substantive attention to the representation described in the
introductory paragraph of this opinion do not have current actual knowledge that
the statement is inaccurate. Such terms do not include any knowledge of other
attorneys within our firm (regardless of whether they have represented or are
representing the Company in connection with any other matter) or any
constructive or imputed knowledge of any matters or items of information. We
have not undertaken any independent investigation to determine the accuracy of
any statement, and any limited inquiry undertaken by us during the preparation
of this opinion letter should not be regarded as such an investigation. No
inference as to our knowledge of any matters bearing on the accuracy of any such
statement should be drawn from the fact of our representation of the Company in
connection with this opinion letter or in other matters.
The term "threatened litigation" used herein shall have the same
meaning as the term "overtly threatened" used in the American Bar Association
Statement of Policy on Lawyer's responses to Auditors' Requests for Information
dated January 15, 1976.
We have assumed the genuineness of all signatures, the authenticity
of all documents submitted to us as originals, the legal capacity of all natural
persons and the conformity with originals of all documents submitted to us as
copies. To the extent the Company's obligations depend on the due authorization,
execution and delivery of other parties to the Documents, we have assumed that
the Documents have been so authorized, executed and delivered and that such
documents constitute the legally valid and binding obligation of each such party
in accordance with their respective terms. We have further assumed the
conformity of the Mortgage Loans and related documents to the requirements of
the Documents.
We have also assumed, without independent verification, that there
are no agreements or understandings among the Seller, the Company, the Trustee
or any other party which would expand, modify or otherwise affect the terms of
the documents described herein or the respective rights or obligations of the
parties thereunder.
<PAGE>
On the basis of such examination, our reliance upon the assumptions
contained herein and our consideration of those questions of law we considered
relevant, and subject to the limitations and qualifications in this opinion, we
are of the opinion that:
1. The Company has been duly incorporated and is validly existing in
good standing under the laws of the State of California with corporate power to
own its properties, conduct its business as described in the Purchase Agreement,
to enter into the Documents and to perform its obligations thereunder.
2. The execution, delivery and performance of each of the Documents
has been duly authorized by all necessary corporate action on the part of the
Company and the Documents have been duly executed and delivered by the Company.
3. The Documents constitute the legally valid and binding obligation
of the Company, enforceable against the Company in accordance with their
respective terms, except as may be limited by (i) bankruptcy, insolvency,
reorganization, moratorium or similar laws relating to or affecting creditors'
rights generally (including, without limitation, fraudulent conveyance laws),
(ii) general principles of equity including, without limitation, concepts of
materiality, reasonableness, good faith and fair dealing and the possible
unavailability of specific performance or injunctive relief, regardless of
whether considered in a proceeding at equity or at law, and (iii) public policy
considerations, statutes or court decisions underlying the securities laws, to
the extent that such public policy considerations, statutes or court decisions
limit the enforceability of the provisions of the Documents that purport to
provide indemnification or contribution with respect to securities laws
violations. Notwithstanding the foregoing, we express no opinion herein with
respect to the validity, legality, binding effect or enforceability of Section
6.07 of the Purchase Agreement or the final sentence of Section 1(a) of the
Subsequent Transfer Instrument.
4. No order, consent, permit or approval of any California or
federal governmental authority that we have, in the exercise of customary
professional diligence, recognized as directly applicable to the Company or to
transactions of the type contemplated by the Documents, is required on the part
of the Company for the execution and delivery, and performance on or prior to
the date of this opinion under, the Documents, except for such as have been
obtained.
5. The Company's execution and delivery of, and performance of its
obligations on or prior to the date hereof under, the Documents, do not and will
not (i) violate the Company's Articles of Incorporation or bylaws, (ii) result
in a default under the terms of any indenture or other material agreement or
instrument known to us to which the Company is a party or by which it is bound,
or (iii) breach or otherwise violate any existing obligation of the Company
under any order, judgment or decree of any California or federal court or
governmental authority binding the Company and known to us.
6. The execution and delivery by the Company of, and the performance
of its obligations on or prior to the date hereof under, the Documents, do not
violate any material
<PAGE>
California or federal statute or regulation that we have, in the exercise of
customary professional diligence, recognized as directly applicable to the
Company or the transactions of the type contemplated by the Documents.
7. To our knowledge, there is no action, suit, proceeding or
investigation pending or threatened against the Company which, in our judgment,
would draw into question the validity of the Documents or which would be likely
to impair materially the ability of the Company to perform under the terms of
the Documents.
The opinions set forth above are subject to and limited by the
following:
(a) the limitations imposed by a California court that might not
permit the exercise or attempted exercise of any right or remedy provided in any
agreement if such exercise or attempted exercise is deemed to be in breach of
the covenant of good faith and fair dealing implied under California law to
exist in all agreements or if the party seeking to exercise the same fails to
act in a commercially reasonable manner;
(b) the limitations imposed by California law and court decisions
relating to the strict enforcement of certain covenants in contracts absent a
showing of damage or increased risk to the party seeking enforcement (such
covenants may include, without limitation, covenants to provide reports or
notices and covenants restricting rights of assignment);
(c) the effect of certain California court decisions, indicating
that a California court would probably refuse to give strict and literal effect
to contractual provisions if it concluded that enforcement of such provisions,
on the basis of the facts and circumstances then before such court, was not
reasonably necessary to protect the rights and interest of the party seeking
enforcement;
(d) the unenforceability under certain circumstances of contractual
provisions respecting various self-help or summary remedies without notice or
opportunity for hearing or correction, especially if their operation would work
a substantial forfeiture or impose a substantial penalty upon the burdened
party;
(e) the unenforceability under certain circumstances of provisions
waiving vaguely or broadly stated rights or unknown future rights and of
provisions stating that rights or remedies are not exclusive, that every right
or remedy is cumulative and may be exercised in addition to or with any other
right or remedy, or that the election of some particular remedy or remedies does
not preclude recourse to one or more others;
(f) the effect of section 1670.5 of the California Civil Code, which
provides that if a court as a matter of law finds a contract or any clause of a
contract to have been "unconscionable" at the time it was made, the court may
refuse to enforce the contract, or the court may enforce the remainder of the
contract without the "unconscionable" clause so as to avoid an "unconscionable"
result;
<PAGE>
(g) the net impact or result of any conflict of laws between or
among laws of competing jurisdictions and the applicability of the law of any
jurisdiction in such instance beyond California.
In rendering this opinion, we express no opinion concerning the laws
of any jurisdiction other than the present laws of the State of California and
the federal laws of the United States. We express no opinion on any issue not
expressly addressed above.
This opinion is rendered by us as special counsel for the Company
and may be relied upon by you only in connection with the transaction
contemplated by the Documents. It may not be used or relied upon by you for any
other person, nor may copies be delivered to any other person, without in each
instance our prior written consent.
Very truly yours,
Freshman, Marantz, Orlanski,
Cooper & Klein
<PAGE>
July 15, 1996
Moody's Investors Service, Inc. Duff & Phelps Credit Rating Co.
99 Church Street 17 State Street, 12th Floor
New York, New York 10007 New York, New York 10004
Standard & Poor's Ratings Services MBIA Insurance Corporation
25 Broadway 113 King Street
New York, New York 10004 Armonk, New York 10504
Prudential Securities Incorporated Bankers Trust Company of California, N.A.
One New York Plaza Three Park Plaza, 16th Floor
New York, New York 10292 Irvine, California 92714
Lehman Brothers Inc
Three World Financial Center
New York, New York 10285
Re: Southern Pacific Secured Assets Corp.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1996-2
Ladies and Gentlemen:
We have acted as counsel to Southern Pacific Secured Assets Corp.
(the "Company"), in connection with the conveyance of $39,356,160.60 of certain
residential first lien and second lien mortgage loans (the "Subsequent Mortgage
Loans") by the Company to Bankers Trust Company of California, N.A. as trustee
(the "Trustee") under the Pooling and Servicing Agreement, dated as of May 8,
1996, among the Company, as company, Advanta Mortgage Corp. USA, as master
servicer and the Trustee (the "Pooling and Servicing Agreement"), pursuant to a
Subsequent Transfer Instrument, dated as of July 15, 1996 (the "Subsequent
Transfer Instrument"), between the Company, as seller and the Trustee (the
<PAGE>
Subsequent Transfer Instrument and the Pooling and Servicing Agreement,
together, the "Agreements"). The Company purchased the Subsequent Mortgage Loans
from Southern Pacific Funding Corporation (the "Seller") pursuant to a Mortgage
Loan Purchase Agreement dated as of July 15, 1996. The Company previously
transferred certain residential first lien and second lien mortgage loans
(collectively, the "Initial Mortgage Loans"; the Subsequent Mortgage Loans and
the Initial Mortgage Loans, together, the "Mortgage Loans") and the amounts of
$20,210,278.26 and $24,370,872.69 deposited by the Company on the Closing Date
in two separate pre-funding accounts to a trust fund pursuant to the Pooling and
Servicing Agreement. Capitalized terms not defined herein have the meanings set
forth in the Pooling and Servicing Agreement.
In connection with rendering this opinion letter, we have examined
the Agreements and such other documents as we have deemed necessary. As to
matters of fact, we have examined and relied upon representations of parties to
the Agreements contained therein and, where we have deemed appropriate,
representations or certifications of officers of parties to the Agreements or
public officials. We have assumed the authenticity of all documents submitted to
us as originals, the genuineness of all signatures, the legal capacity of
natural persons and the conformity to the originals of all documents. We have
assumed that all parties had or have the power and authority to enter into and
perform all obligations thereunder. As to such parties, we also have assumed the
due authorization by all requisite action, the due execution and delivery and
the enforceability of such documents. We have further assumed that there is not
and will not be any other agreement that materially supplements or otherwise
modifies the agreements expressed in the Agreements. We have further assumed the
conformity of the Mortgage Loans and related documents to the requirements of
the Agreements.
In rendering this opinion letter, we do not express any independent
opinion concerning any law other than the law of the State of New York and the
federal law of the United States. We also note that the security interest of the
Trustee in proceeds is limited to the extent set forth in Section 9-306 of the
Uniform Commercial Code as in effect in the State of New York. We do not express
any opinion on any issue not expressly addressed below.
Based upon and subject to the foregoing, it is our opinion that, in
the event that the transfer of the Subsequent Mortgage Loans by the Company to
the Trustee and the sale of the Class A Certificates by the Company to the
Underwriters were held not to constitute a sale of the interest in the
Subsequent Mortgage Loans evidenced by the Class A Certificates, the Agreements
create, for the benefit of the Trustee as secured party on behalf of the
Certificateholders, a perfected security interest in each Subsequent Mortgage
Loan and the proceeds thereof, which security interest will be prior to all
other security interests except for those that by operation of law take priority
over a previously perfected security interest.
<PAGE>
This opinion letter is rendered for the sole benefit of each person
or entity to which it is addressed, and no other person or entity is entitled to
rely hereon. Copies of this opinion letter may not be furnished to any other
party or entity, nor may any portion of this opinion letter be quoted,
circulated or referred to in any other document.
Very truly yours,
THACHER PROFFITT & WOOD
<PAGE>
July 15, 1996
Moody's Investors Service, Inc. Duff & Phelps Credit Rating Co.
99 Church Street 17 State Street, 12th Floor
New York, New York 10007 New York, New York 10004
Standard & Poor's Ratings Services MBIA Insurance Corporation
25 Broadway 113 King Street
New York, New York 10004 Armonk, New York 10504
Prudential Securities Incorporated Bankers Trust Company of California, N.A.
One New York Plaza Three Park Plaza, 16th Floor
New York, New York 10292 Irvine, California 92714
Lehman Brothers Inc
Three World Financial Center
New York, New York 10285
Re: Southern Pacific Secured Assets Corp.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1996-2
Ladies and Gentlemen:
We have acted as counsel to Southern Pacific Secured Assets Corp.
(the "Company"), in connection with the conveyance of $39,356,160.60 of certain
residential first lien and second lien mortgage loans (the "Subsequent Mortgage
Loans") by the Company to Bankers Trust Company of California, N.A. as trustee
(the "Trustee") under the Pooling and Servicing Agreement, dated as of May 8,
1996, among the Company, as company, Advanta Mortgage Corp. USA, as master
servicer and the Trustee (the "Pooling and Servicing Agreement"), pursuant to a
Subsequent Transfer Instrument, dated as of July 15, 1996 (the "Subsequent
Transfer Instrument"), between the Company, as seller and the Trustee (the
<PAGE>
Subsequent Transfer Instrument and the Pooling and Servicing Agreement,
together, the "Agreements"). The Company purchased the Subsequent Mortgage Loans
from Southern Pacific Funding Corporation (the "Seller") pursuant to a Mortgage
Loan Purchase Agreement dated as of July 15, 1996. The Company previously
transferred certain residential first lien and second lien mortgage loans
(collectively, the "Initial Mortgage Loans"; the Subsequent Mortgage Loans and
the Initial Mortgage Loans, together, the "Mortgage Loans") and the amounts of
$20,210,278.26 and $24,370,872.69 deposited by the Company on the Closing Date
in two separate pre-funding accounts to a trust fund pursuant to the Pooling and
Servicing Agreement. Capitalized terms not defined herein have the meanings set
forth in the Pooling and Servicing Agreement.
In connection with rendering this opinion letter, we have examined
the Agreements and such other documents as we have deemed necessary. As to
matters of fact, we have examined and relied upon representations of parties to
the Agreements contained therein and, where we have deemed appropriate,
representations or certifications of officers of parties to the Agreements or
public officials. We have assumed the authenticity of all documents submitted to
us as originals, the genuineness of all signatures, the legal capacity of
natural persons and the conformity to the originals of all documents. We have
assumed that all parties had or have the power and authority to enter into and
perform all obligations thereunder. As to such parties, we also have assumed the
due authorization by all requisite action, the due execution and delivery and
the enforceability of such documents. We have further assumed that there is not
and will not be any other agreement that materially supplements or otherwise
modifies the agreements expressed in the Agreements. We have further assumed the
conformity of the Mortgage Loans and related documents to the requirements of
the Agreements.
In rendering this opinion letter, we do not express any opinion
concerning any law other than the federal law of the United States and the law
of the State of New York. We do not express any opinion on any issue not
expressly addressed below.
Based upon and subject to the foregoing, it is our opinion that (i)
in the event of the insolvency of the Seller and the appointment of a receiver
or conservator for the Seller, in connection with such a proceeding a court
would not hold that the transfer of the Subsequent Mortgage Loans by the Seller
to the Company should be characterized as a loan secured by the Subsequent
Mortgage Loans rather than as a sale of the ownership interest in the Subsequent
Mortgage Loans, and (ii) in the event of the insolvency of the Company and the
appointment of a receiver or conservator for the Company, in connection with
such a proceeding a court would not hold that the transfer of the Subsequent
Mortgage Loans by the Company to the Trustee should be characterized as a loan
secured by the Subsequent Mortgage Loans rather than as a sale of the ownership
interest in the Subsequent Mortgage Loans evidenced by the Certificates.
<PAGE>
This opinion letter is rendered for the sole benefit of each
addressee hereof, and no other person or entity is entitled to rely hereon.
Copies of this opinion letter may not be furnished to any other party or entity,
nor may any portion of this opinion letter be quoted, circulated or referred to
in any other document.
Very truly yours,
THACHER PROFFITT & WOOD
<PAGE>
SOUTHERN PACIFIC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 1996-2
ATTACHMENT D TO SUBSEQUENT TRANSFER INSTRUMENT
Series 1996-2
July 15, 1996
OFFICER'S CERTIFICATE
I, Gary Palmer, hereby certify that I am a duly elected
Director of Southern Pacific Secured Assets Corp., a California corporation (the
"Company"), and further, to the best of my knowledge and after due inquiry, as
follows:
Each condition precedent specified in Section 2.08(b) and
Section 2.08(c) of the Pooling and Servicing Agreement, dated as of
May 8, 1996, among the Company, Advanta Mortgage Corp. USA, as Master
Servicer, and Bankers Trust Company of California, N.A., as Trustee
(the "Pooling and Servicing Agreement") and each condition precedent
specified in the Subsequent Transfer Instrument has been satisfied by
the Company.
Capitalized terms not defined herein have the meanings set
forth in the Pooling and Servicing Agreement.
IN WITNESS WHEREOF, I have hereunto signed my name.
Dated: July 15, 1996 By: /s/ Gary Palmer
--------------------
Name: Gary Palmer
Title: Director
<PAGE>
SOUTHERN PACIFIC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 1996-2
ATTACHMENT E TO SUBSEQUENT TRANSFER INSTRUMENT
Series 1996-2
July 15, 1996
TRUSTEE'S ACKNOWLEDGMENT OF RECEIPT
July 15, 1996
Southern Pacific Funding Corporation
One Centerpointe Drive, Suite 500
Lake Oswego, Oregon 97035
Southern Pacific Secured Assets Corp.
One Centerpointe Drive, Suite 500
Lake Oswego, Oregon 97035
Advanta Mortgage Corp. USA
16875 West Bernardo Drive
San Diego, California 92127
MBIA Insurance Corporation
113 King Street
Armonk, New York 10564
Re: Pooling and Servicing Agreement, dated as of May 8, 1996
among Southern Pacific Secured Assets Corp., as Company,
Advanta Mortgage Corp. USA, as Master Servicer, and
Bankers Trust Company of California, N.A., as Trustee,
Mortgage Pass-Through CERTIFICATES, SERIES 1996-2,
(SUBSEQUENT TRANSFER ON JULY 15, 1996)
Ladies and Gentlemen:
In accordance with Section 2.04 of the above-captioned Pooling
and Servicing Agreement, the undersigned, as Trustee, hereby certifies: except
as noted on the attachment hereto, if any (the "Loan Exception Report"), it has
received the original Mortgage Note (item (i) in Section 2.03(a)) with respect
to each Mortgage Loan listed in the attached Mortgage Loan Schedule and the
documents contained therein appear to bear original signatures or copies of
originals if the originals have not yet been delivered.
The Trustee has made no independent examination of any such
documents
<PAGE>
beyond the review specifically required in the above-referenced Pooling and
Servicing Agreement. The Trustee makes no representations as to: (i) the
validity, legality, sufficiency, enforceability or genuineness of any such
documents or any of the Mortgage Loans identified on the Mortgage Loan Schedule,
or (ii) the collectability, insurability, effectiveness or suitability of any
such Mortgage Loan.
Capitalized words and phrases used herein shall have the
respective meanings assigned to them in the above-captioned Pooling and
Servicing Agreement.
BANKERS TRUST COMPANY OF
CALIFORNIA, N.A., as Trustee
By: /s/ Gary R. Vaughan
-------------------------
Name: Gary R. Vaughan
Title: Assistant Vice President
<PAGE>
SOUTHERN PACIFIC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 1996-2
ATTACHMENT F TO SUBSEQUENT TRANSFER INSTRUMENT
Series 1996-2
July 15, 1996
July 15, 1996
TO THE ADDRESSEES LISTED ON SCHEDULE I HERETO:
Re: Southern Pacific Secured Assets Corp.
Mortgage Pass-Through Certificates,
SERIES 1996-2
Ladies and Gentlemen:
We have acted as special counsel to Bankers Trust Company of
California, N.A., as trustee (the "Trustee") under Subsequent Transfer
Instrument (the "Subsequent Transfer Instrument"), dated as of July 15, 1996
between Southern Pacific Secured Assets Corp., as seller (the "Company") and the
Trustee and the Pooling and Servicing Agreement, dated as of May 8, 1996 among
the Company, Advanta Mortgage Corp. USA, as master servicer (the "Master
Servicer"), and the Trustee (the "Pooling and Servicing Agreement" together with
the Subsequent Transfer Instrument, the "Agreements"). Capitalized terms used
but not defined herein shall have the meanings set forth in the Pooling and
Servicing Agreement.
In arriving at the opinions expressed below, we have examined
and relied upon the originals or copies, certified or otherwise identified to
our satisfaction, of the Agreements and of such records, documents, instruments
and certificates, and we have made such investigations of law, as we have deemed
appropriate as the basis for the opinions expressed below. We have assumed and
have not verified that the signatures on all documents that we have examined are
genuine and that each person signing each such document, except with respect to
the Trustee, was duly authorized to sign such document on behalf of the person
or entity purporting to be bound thereby. In addition, for purposes of rendering
the opinions expressed below, we have, with your permission, (i) relied upon
such other documents, instruments and certificates, including certificates of
the Trustee and of public officials, without investigation on our part of any of
the matters set forth therein, (ii) assumed, without investigation on our part,
that each of the Agreements have been duly authorized and validly executed and
delivered by the Company and each Agreement is a legal, valid, binding and
enforceable instrument of the Company.
<PAGE>
Based upon the foregoing, we are of the opinion that:
1. The Trustee is a national banking association duly
organized, validly existing and in good standing under the laws of the United
States of America and has the power and authority to enter into, and to take all
action required of it under the Agreements.
2. Each of the Agreements have been duly authorized, executed
and delivered by the Trustee and constitutes a valid and binding obligation of
the Trustee enforceable against the Trustee in accordance with its terms,
subject to applicable bankruptcy, insolvency, reorganization, receivership and
similar laws affecting creditors' rights generally, and the rights of creditors
of national banking associations and depository institutions the accounts of
which are insured by the FDIC specifically, and subject, as to enforceability,
to general principles of equity and the discretion of the court, regardless of
whether enforcement is sought in a proceeding in equity or law.
3. The execution and delivery of the Agreements by the Trustee
and the performance by the Trustee of their respective terms do not conflict
with or result in a violation of (a) any law or regulation of the United States
of America or the State of New York governing the banking or trust powers of the
Trustee, or (b) the Articles of Association and Bylaws of the Trustee.
4. No consent, approval or authorization of, filing or
registration with, or notice to, any governmental regulatory authority is
required for the Trustee in connection with the execution and delivery of,
performance under, or compliance with, the Agreements.
We express no opinion other than as to the law of the State of
New York and the federal law of the United States of America.
Our opinions contained herein are rendered only as of the date
hereof, and we undertake no obligation to update this letter or the opinions
herein after the date hereof.
This opinion is furnished for your benefit only and solely in
connection with the Agreements. You may not rely on this opinion for any other
purpose, nor may anyone else rely on this opinion, without our express written
consent.
Very truly yours,
/s/ Dewey Ballantine
<PAGE>
SCHEDULE I
Lehman Brothers Inc.
3 World Financial Center, 12th Floor
New York, New York 10285
Prudential Securities Incorporated
One New York Plaza
New York, New York 10292
Advanta Mortgage Corp. USA
16875 West Bernardo Drive
San Diego, California 92127
Southern Pacific Funding Corporation
One Centerpointe Drive, Suite 500
Lake Oswego, OR 97035
Southern Pacific Secured Assets Corp.
One Centerpointe Drive, Suite 500
Lake Oswego, OR 97035
MBIA Insurance Corporation
113 King Street
Armonk, NY 10504
Duff & Phelps Credit Rating Co.
17 State Street, 12th Floor
New York, NY 10004
Moody's Investors Service, Inc.
99 Church Street, 4th Floor
New York, NY 10007
Standard & Poor's Ratings Services
26 Broadway, 15th Floor
New York, NY 10004
