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<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
--------------------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event report) December 16, 1996
--------------------------
The Money Store Inc. (as Representative under a
Pooling and Servicing Agreement dated as of August
31, 1996 providing for the issuance of TMS Asset
Backed Certificates, Series 1996-C) and each of the
Originators listed on Schedule A attached hereto.
The Money Store, Inc.
-------------------------------
(Exact name of regristrant as specified in its charter)
New Jersey 33-98734 22-2293022
- ---------- -------- ----------
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
- -------------------------------------------------------
(Address of principal executive officer)
Registrant's Telephone Number,
including area code: (908) 686-2000
-------------
n/a
- ---------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5 Other Events
------------
Attached herein as Annex A is a copy of the Monthly Statement sent to Class
A Certificate holders with respect to the December 16, 1996 Remittance Date.
Item 7 Financial Statements and Exhibits
---------------------------------
The quarterly financial statement for the period ended September 30, 1996 for
MBIA Inc. is incorporated by reference to the Form 10Q filed by MBIA Inc. with
the Securities and Exchange Commission on November 14, 1996.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE MONEY STORE INC.
By: /s/ Harry Puglisi
----------------------
Harry Puglisi
Treasurer
Dated: December 31, 1996
<PAGE>
Schedule A
List of Originators
-------------------
1996-B
------
The Money Store/Minnesota Inc.
The Money Store/D.C. Inc.
The Money Store/ Kentucky Inc.
The Money Store Home Equity Corp.
TMS Mortgage Inc.
<PAGE>
SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.10 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF MAY 31, 1996, THE MONEY STORE INC. REPORTS THE FOLLOWING INFORMATION
PERTAINING TO SERIES 1996-B FOR THE DECEMBER 11, 1996 DETERMINATION DATE.
<TABLE>
<CAPTION>
POOL I POOL II POOL III POOL IV
<S> <C> <C> <C> <C>
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $20,213,061.15 $4,706,419.25 $2,229,330.25 $311,516.35
ADJ : RECALCULATION 0.00 0.00 0.00 0.00
-------------------------------------------------------------
20,213,061.15 4,706,419.25 2,229,330.25 311,516.35
LESS: SERVICE FEE (7.03 & 5.04) 178,482.70 34,402.58 19,337.21 4,238.97
CONTINGENCY FEE (7.03 & 5.04) 178,482.70 34,402.58 19,337.21 4,238.97
OTHER SERVICER FEES (Late Charges / Escrow) (7.03 & 5.04) 61,309.41 21,749.03 1,975.67 0.00
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00 0.00
-------------------------------------------------------------
418,274.81 90,554.19 40,650.09 8,477.94
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 0.00 80,717.85 0.00 0.00
PRE-FUNDING ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00 0.00
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00 0.00
-------------------------------------------------------------
0.00 80,717.85 0.00 0.00
LESS: EXCESS SPREAD (I-19) 2,234,961.41 480,942.53 360,777.60 47,433.56
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00 0.00
-------------------------------------------------------------
2,234,961.41 480,942.53 360,777.60 47,433.56
---------------- -------------- -------------- -----------
AVAILABLE REMITTANCE AMOUNT 17,559,824.93 4,215,640.39 1,827,902.56 255,604.85
================ ============== ============== ===========
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 137,546,483.00
(B) CLASS A-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 52,917,624.37
(C) CLASS A-3 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 84,673,000.00
(D) CLASS A-4 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 95,170,000.00
(E) CLASS A-5 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 157,038,000.00
(F) CLASS A-6 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 65,967,000.00
(G) CLASS A-7 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 98,867,000.00
(H) CLASS A-8 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 107,254,000.00
(I) CLASS A-9 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 67,839,000.00
(J) CLASS A-10 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 116,177,002.94
(K) CLASS A-11 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 69,775,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(L) CLASS A-12 PRINCIPAL BALANCE AS REPORTED
(L) CLASS A-12 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 10,632,702.02
(M) CLASS A-13 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 46,341,000.00
(N) CLASS A-14 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 14,337,000.00
(O) CLASS A-15 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 20,364,000.00
(P) CLASS A-16 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 19,714,243.33
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS A-1 7,228,183.95
CLASS A-2 7,228,226.74
CLASS A-3 0.00
CLASS A-4 0.00
CLASS A-5 0.00
CLASS A-6 0.00
CLASS A-7 0.00
CLASS A-8 0.00
CLASS A-9 0.00
TOTAL POOL I PRINCIPAL DISTRIBUTION AMOUNT: 14,456,410.69
CLASS A-10 2,335,930.57
CLASS A-11 1,425,000.00
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT: 3,760,930.57
CLASS A-12 1,609,481.10
CLASS A-13 0.00
CLASS A-14 0.00
CLASS A-15 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT: 1,609,481.10
CLASS A-16 161,588.41
TOTAL POOL IV PRINCIPAL DISTRIBUTION AMOUNT: 161,588.41
4.TOTAL AMOUNT OF POOL I, II , III & IV
INSURED PAYMENTS 0.00
5.(A) SUBORDINATED AMOUNT
POOL I 16,450,205.69
POOL II 1,765,415.86
POOL III 7,795,152.20
POOL IV 1,346,074.94
(B) SPECIFIED SUBORDINATED AMOUNT
POOL I 30,690,000.00
POOL II 5,600,000.00
POOL III 9,500,000.00
POOL IV 5,000,000.00
6.PRINCIPAL PREPAYMENT RECEIVED DURING
THE DU # ACCOUNTS DOLLARS
238 10,956,886.28
39 3,009,555.97
71 851,117.13
1 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 454,814.88
POOL II 166,897.19
POOL III 38,647.01
POOL IV 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 1,004,893.49
POOL II 175,593.79
POOL III 363,305.89
POOL IV 8,651.86
9. AMOUNT OF INTEREST RECEIVED
POOL I 7,735,157.09
POOL II 1,332,623.27
POOL III 970,199.53
POOL IV 193,621.87
10. (A) AMOUNT OF MONTHLY ADVANCES INCLUDING COMPENSATING
INTEREST TO BE MADE ON THE DETERMINATION DATE
TO BE DEPOSITED IN THE CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.01 (a) (ii)
POOL I 0.00
POOL II 80,717.85
POOL III 0.00
POOL IV 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 5,893.39
POOL II 26.47
POOL III 182.53
POOL IV 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 950.89
POOL II 542.12
POOL III 0.00
POOL IV 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) C 770,260.30
(B) P 7,228,183.95
(C) C 0.00
(D) M 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 7,998,444.26
CLASS A-2 REMITTANCE AMOUNT:
(A) C 291,487.91
(B) P 7,228,226.74
(C) C 0.00
(D) M 0.00
TOTAL CLASS A-2 REMITTANCE AMOUNT 7,519,714.65
CLASS A-3 REMITTANCE AMOUNT:
(A) C 481,224.88
(B) P 0.00
(C) C 0.00
(D) M 0.00
TOTAL CLASS A-3 REMITTANCE AMOUNT 481,224.88
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS A-4 REMITTANCE AMOUNT:
CLASS A-4 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 552,779.08
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-4 REMITTANCE AMOUNT 552,779.08
CLASS A-5 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 939,610.70
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-5 REMITTANCE AMOUNT 939,610.70
CLASS A-6 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 405,697.05
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-6 REMITTANCE AMOUNT 405,697.05
CLASS A-7 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 622,038.21
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-7 REMITTANCE AMOUNT 622,038.21
CLASS A-8 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 706,982.62
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-8 REMITTANCE AMOUNT 706,982.62
CLASS A-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 460,174.55
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-9 REMITTANCE AMOUNT
460,174.55
POOL I REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 5,230,255.31
(B) PRINCIPAL DISTRIBUTION AMOUNT 14,456,410.69
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 19,686,666.00
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 569,735.25
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,335,930.57
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 2,905,665.82
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS A-11 REMITTANCE AMOUNT:
CLASS A-11 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 320,247.87
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,425,000.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-11 REMITTANCE AMOUNT 1,745,247.87
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 889,983.12
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,760,930.57
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 4,650,913.69
CLASS A-12 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 57,948.23
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,609,481.10
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-12 REMITTANCE AMOUNT 1,667,429.33
CLASS A-13 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 266,460.75
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-13 REMITTANCE AMOUNT 266,460.75
CLASS A-14 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 87,814.13
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-14 REMITTANCE AMOUNT 87,814.13
CLASS A-15 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 134,063.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-15 REMITTANCE AMOUNT 134,063.00
POOL III REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 546,286.10
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,609,481.10
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 2,155,767.20
CLASS A-16 (POOL IV) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 131,592.57
(B) PRINCIPAL DISTRIBUTION AMOUNT 161,588.41
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL IV REMITTANCE AMOUNT 293,180.98
</TABLE>
<PAGE>
<TABLE>
<S> <C>
14.(A) REIMBURSABLE AMOUNTS 0.00
14.(A) REIMBURSABLE AMOUNTS 0.00
(B) CLASS R REMITTANCE AMOUNT PAYABLE PURSUANT
TO SECTION 6.08(d) (iii) AND (iv)
POOL I 0.00
POOL II (0.00)
POOL III 0.00
POOL IV 0.00
15.(A) CLASS A-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 130,318,299.05
(B) CLASS A-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 45,689,397.63
(C) CLASS A-3 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 84,673,000.00
(D) CLASS A-4 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 95,170,000.00
(E) CLASS A-5 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 157,038,000.00
(F) CLASS A-6 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 65,967,000.00
(G) CLASS A-7 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 98,867,000.00
(H) CLASS A-8 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 107,254,000.00
(I) CLASS A-9 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 67,839,000.00
(J) CLASS A-10 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 113,841,072.36
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 68,350,000.00
(L) CLASS A-12 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 9,023,220.92
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(M) CLASS A-13 PRINCIPAL BALANCE AFTER
(M) CLASS A-13 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 46,341,000.00
(N) CLASS A-14 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 14,337,000.00
(O) CLASS A-15 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 20,364,000.00
(P) CLASS A-16 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 19,552,654.92
(Q) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 852,815,696.68
(R) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 182,191,072.36
(S) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 90,065,220.92
(T) TOTAL POOL IV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 19,552,654.92
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II, III AND IV) 100.00%
(B) EXCESS SPREAD (POOL I) 2,234,961.41
EXCESS SPREAD (POOL II) 480,942.53
EXCESS SPREAD (POOL III) 360,777.60
EXCESS SPREAD (POOL IV) 47,433.56
TOTAL EXCESS SPREAD (POOL I, II, III and IV) 3,124,115.10
(C) REMAINDER EXCESS SPREAD AMOUNT POOL I 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL II 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL III 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL IV 0.00
TOTAL REMAINDER EXCESS SPREAD AMOUNT POOL I, II, III and IV 0.00
17. CUMULATIVE REALIZED LOSSES
POOL I 14,129.15
POOL II 22,697.64
POOL III 0.00
POOL IV 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 264.640
POOL II 351.985
POOL III 192.058
POOL IV 328.895
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.853%
POOL II 9.668%
POOL III 12.525%
POOL IV 11.341%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 178,482.70
POOL II 34,402.58
POOL III 19,337.21
POOL IV 4,238.97
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 178,482.70
POOL II 34,402.58
POOL III 19,337.21
POOL IV 4,238.97
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 36,136.34
POOL II 7,748.00
POOL III 3,819.78
POOL IV 821.43
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 71,984.00
POOL II 18,595.00
POOL III 22,919.00
POOL IV 9,036.00
(E) FHA PREMIUM ACCOUNT 6,174.18
(F) CLASS A-11 AUCTION AGENT FEE 16,072.48
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE
SERVICERS PURS POOL I POOL II
(A) SECTION 5. 0.00 0.00
(B) SECTION 5. 0.00 0.00
(C) SECTION 5. 0.00 0.00
(D) SECTION 5. 0.00 0.00
(E) SECTION 5. 356,965.40 68,805.16
POOL III POOL IV
(A) SECTION 5. 0.00 0.00
(B) SECTION 5. 0.00 0.00
(C) SECTION 5. 0.00 0.00
(D) SECTION 5. 0.00 0.00
(E) SECTION 5. 38,674.42 8,477.94
21. CLASS CUSIP #
CURRENT CLASS A 130,318,299.05 0.77142459 0935B AA7
ORIGINAL CLASS A 168,932,000.00
CLASS A-2 POOL FACTOR (I-5):
CURRENT CLASS A 45,689,397.63 0.54224303 0935B AB5
ORIGINAL CLASS A 84,260,000.00
CLASS A-3 POOL FACTOR (I-5):
CURRENT CLASS A 84,673,000.00 1,00000000 0935B AC3
ORIGINAL CLASS A 84,673,000.00
CLASS A-4 POOL FACTOR (I-5):
CURRENT CLASS A 95,170,000.00 1,00000000 0935B AD1
ORIGINAL CLASS A 95,170,000.00
CLASS A-5 POOL FACTOR (I-5):
CURRENT CLASS A 157,038,000.00 1,00000000 0935B AE9
ORIGINAL CLASS A 157,038,000.00
CLASS A-6 POOL FACTOR (I-5):
CURRENT CLASS A 65,967,000.00 1,00000000 0935B AF6
ORIGINAL CLASS A 65,967,000.00
CLASS A-7 POOL FACTOR (I-5):
CURRENT CLASS A 98,867,000.00 1,00000000 935B AG4
ORIGINAL CLASS A 98,867,000.00
CLASS A-8 POOL FACTOR (I-5):
CURRENT CLASS A 107,254,000.00 1,00000000 0935B AH2
ORIGINAL CLASS A 107,254,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
CLASS A-9 POOL FACTOR (I-5): CUSIP #
CLASS A-9 POOL FACTOR (I-5): CUSIP #
CURRENT CLASS A-8 PRINCIPAL BALANCE 67,839,000.00 1.00000000 60935B AJ8
ORIGINAL CLASS A-8 PRINCIPAL BALANCE 67,839,000.00
POOL I FACTOR:
CURRENT POOL I PRINCIPAL BALANCE 852,815,696.68 0.91700613
ORIGINAL POOL I PRINCIPAL BALANCE 930,000,000.00
CLASS A-10 FACTOR:
CURRENT CLASS A-10 PRINCIPAL BALANCE 113,841,072.36 0.91072858 60935B AK5
ORIGINAL CLASS A-10 PRINCIPAL BALANCE 125,000,000.00
CLASS A-11 POOL FACTOR (I-5):
CURRENT CLASS A-11 PRINCIPAL BALANCE 68,350,000.00 0.91133333 60935B AL3
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 75,000,000.00
POOL II FACTOR:
CURRENT POOL II PRINCIPAL BALANCE 182,191,072.36 0.91095536
ORIGINAL POOL II PRINCIPAL BALANCE 200,000,000.00
CLASS A-12 POOL FACTOR (I-5):
CURRENT CLASS A-10 PRINCIPAL BALANCE 9,023,220.92 0.47595848 60935B AM1
ORIGINAL CLASS A-10 PRINCIPAL BALANCE 18,958,000.00
CLASS A-13 POOL FACTOR (I-5):
CURRENT CLASS A-11 PRINCIPAL BALANCE 46,341,000.00 1.00000000 60935B AN9
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 46,341,000.00
CLASS A-14 POOL FACTOR (I-5):
CURRENT CLASS A-12 PRINCIPAL BALANCE 14,337,000.00 1.00000000 60935B AP4
ORIGINAL CLASS A-12 PRINCIPAL BALANCE 14,337,000.00
CLASS A-15 POOL FACTOR (I-5):
CURRENT CLASS A-12 PRINCIPAL BALANCE 20,364,000.00 1.00000000 60935B AQ2
ORIGINAL CLASS A-12 PRINCIPAL BALANCE 20,364,000.00
POOL III FACTOR:
CURRENT POOLI III PRINCIPAL BALANCE 90,065,220.92 0.90065221
ORIGINAL POOL III PRINCIPAL BALANCE 100,000,000.00
CLASS A-16 (POOL IV) FACTOR (I-5):
CURRENT CLASS A-14 PRINCIPAL BALANCE 19,552,654.92 0.97763275 60935B AR0
ORIGINAL CLASS A-14 PRINCIPAL BALANCE 20,000,000.00
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.853%
POOL II 9.668%
POOL III 12.525%
POOL IV 11.341%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 10.203%
POOL II 8.751%
POOL III 10.675%
POOL IV 10.241%
(C) WEIGHTED AVERAGE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-5, CLASS A-6,
CLASS A-7, CLASS A-8 AND CLASS A-9 ADJUST MORTGAGE LOAN REMITTANCE RATE 6.737%
CLASS A-10 AND CLASS A-11 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.828%
CLASS A-12, CLASS A-13, CLASS A-14 AND CLASS A-14 AND CLASS A-15
ADJUSTED MORTGAGE LOAN REMITTANCE RATE 7.512%
CLASS A-16 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.010%
--------------------------------------------
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 09/30/96 10/31/96 11/30/96
--------------------------------------------
POOL I 10.863% 10.856% 10.853%
POOL II 9.328% 9.476% 9.668%
POOL III 12.531% 12.529% 12.525%
POOL IV 11.344% 11.344% 11.341%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
23. CLASS A-10 REMITTANCE RATE 5.70281%
23. CLASS A-10 REMITTANCE RATE 5.69500%
CLASS A-11 REMITTANCE RATE (BASED ON AUCTION RATE) 5.330%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-10 N/A
24. LIBOR RATE 5.37500%
25. POOL II NET FUNDS CAP (RATE) 9.053%
CLASS A-10 NET FUNDS CAP 0.00
CLASS A-11 NET FUNDS CAP 0.00
26. CLASS A-10 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
CLASS A-11 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0
MAXIMUM POOL II RATE FOR THE DUE PERIOD 0.00
27. (A) AMOUNT OF DISTRIBUTION ALLOCABLE TO LIBOR
INTEREST CARRYOVER 0.00
(B) LIBOR INTEREST CARRYOVER BALANCE 0.00
28. (A) AMOUNT TO BE DEPOSITED INTO THE FHA PREMIUM ACCOUNT
FOR THE DUE PERIOD 6,174.18
(B) AMOUNT REIMBURURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PUSUANT TO 6.06(b)(i) 2,030.42
29. AMOUNT OF FHA PAYMENTS AND RELATED PAYMENTS
RECEIVED DURING THE MONTH 0.00
30. THE RESERVE AMOUNT FOR THE DUE PERIOD 10,000,000.00
31. CLAIMS FILED DURING THE DUE PERIOD 7,094.00
32. CLAIMS PAID DURING THE PERIOD 0.00
33. CLAIMS DENIED BY FHA DURING THE DUE PERIOD 0.00
34. CLAIMS PENDING PAYMENT BY FHA DURING THE DUE PERIOD 0.00
35. OTHER INFORMATION
(A) SPREAD ACCOUNT BALANCES
POOL I 7,123,876.55
POOL II 0.00
POOL III 6,128,065.85
POOL IV 1,225,613.17
(B) AMOUNT TO BE DEPOSITED INTO POOL III
SPREAD ACCOUNT DUE TO TRIGGER ACTIVATION 0
</TABLE>
<PAGE>
EXHIBIT O ( POOL I )
REMIC DELINQUENCIES AS OF -NOVERMBER 30, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-I $864,181,841.87 16430 1 TO 29 DAYS 167,047,776.80 3176 19.33%
30 TO 59 DAYS 19,614,243.41 393 2.27%
60 TO 89 DAYS 9,513,045.48 185 1.10%
90 AND OVER 9,269,980.68 159 1.07%
FORECLOSURE 5,556,730.02 91 0.64%
REO PROPERTY 0.00 0 0.00%
TOTALS $211,001,776.39 4,004 24.42%
======================================
</TABLE>
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -NOVERMBER 30, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-II $184,340,059.75 2245 1 TO 29 DAYS 39,496,187.32 490 21.43%
30 TO 59 DAYS 5,851,039.13 74 3.17%
60 TO 89 DAYS 1,996,439.97 23 1.08%
90 AND OVER 2,078,622.23 31 1.13%
FORECLOSURE 1,280,440.19 17 0.69%
REO PROPERTY 201,452.65 1 0.11%
TOTALS $ 50,904,181.49 636 27.61%
======================================
</TABLE>
<PAGE>
EXHIBIT O ( POOL III )
REMIC DELINQUENCIES AS OF -NOVERMBER 30, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C>
1996-B-III $92,088,718.34 5908 1 TO 29 DAYS 20,481,084.18 1281 22.24%
30 TO 59 DAYS 2,943,545.52 188 3.20%
60 TO 89 DAYS 1,194,475.19 81 1.30%
90 AND OVER 2,068,589.33 142 2.25%
CLAIMS PENDING 0.00 0 0.00%
FORECLOSURE 134,999.92 11 0.15%
REO PROPERTY 0.00 0 0.00%
TOTALS $26,822,694.14 1,703 29.13%
======================================
</TABLE>
EXHIBIT O ( POOL IV )
REMIC DELINQUENCIES AS OF -NOVERMBER 30, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-IV 19,716,810.62 101 1 TO 29 DAYS 1,777,584.56 9 9.02%
30 TO 59 DAYS 195,000.00 1 0.99%
60 TO 89 DAYS 305,000.00 1 1.55%
90 AND OVER 0.00 0 0.00%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $ 2,277,584.56 11 11.55%
====================================
</TABLE>
<PAGE>
1996-B
The following additional information, presented in dollars, pursuant to
Secton 6.10 subclauses (ii), (vi), (vii), (viii), (xiii), (xv), (xxxvi)
is provided for each Class per $1,000 (or per $25,000 for Class A-9)
original dollar amount as of the Cut-Off Date.
<TABLE>
<CAPTION>
POOL I
SUBCLAUSE CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
- --------- ------------- ------------- ----------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 814.21 628.03 1,000.00 1,000.00 1,000.00
(vi) 32.43 65.02 0.00 0.00 0.00
(vii) 1.35 2.7 0.00 0.00 0.00
(viii) 5.95 5.96 0.00 0.00 0.00
(xiii) (a) 4.56 3.46 5.68 5.81 5.98
(b) 42.79 85.78 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00
(xv) 771.42 542.24 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL II
SUBCLAUSE CLASS A-6 CLASS A-7 CLASS A-8 CLASS A-9 CLASS A-10
- --------- ------------ ------------ -----------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 1,000.00 1,000.00 929.42
(vi) 0.00 0.00 0.00 0.00 0.00
(vii) 0.00 0.00 0.00 0.00 0.56
(viii) 0.00 0.00 0.00 0.00 0.00
(xiii) (a) 6.15 6.29 6.59 6.78 4.56
(b) 0.00 0.00 0.00 0.00 18.69
(c) 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00
(xv) 1,000.00 1,000.00 1,000.00 1,000.00 910.73
(xxxvi) 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL III POOL IV
SUBCLAUSE CLASS A-11 CLASS A-12 CLASS A-13 CLASS A-14 CLASS A-15 CLASS A-16
- --------- ------------- ------------- -----------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
(ii) 23,258.33 560.86 1,000.00 1,000.00 1,000.00 985.71
(vi) 0.00 44.89 0.00 0.00 0.00 5.46
(vii) 13.99 2.04 0.00 0.00 0.00 0.00
(viii) 0.00 13.77 0.00 0.00 0.00 0.43
(xiii) (a) 106.75 3.06 5.75 6.13 6.58 6.58
(b) 475.00 84.90 0.00 0.00 0.00 8.08
(c) 0.00 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00 0.00
(xi) 15,447.00 475.96 1,000.00 1,000.00 1,000.00 977.63
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
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