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Previous: DOVER DOWNS ENTERTAINMENT INC, S-1/A, 1996-08-27 |
Next: SNYDER COMMUNICATIONS INC, S-1/A, 1996-08-27 |
<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) August 15, 1996
-----------------
The Money Store Inc. (as Representative under a
Pooling and Servicing Agreement dated as of
May 31, 1996 providing for the issuance of
TMS Asset Backed Certificates, Series 1996-B) 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 7 Financial Statements and Exhibits
---------------------------------
Attached herein as Annex A is a copy of the Monthly Statement
sent to Class A Certificate holders with respect to the Remittance of
August 15, 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. AND THE
ORIGINATORS LISTED ON SCHEDULE A
By: /s/ Harry Puglisi
---------------------
Harry Puglisi
Treasurer
Dated: August 15, 1996
<PAGE>
EXHIBIT I
LIST OF ORIGINATORS
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>
ANNEX A
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 AUGUST 12, 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) $13,434,369.62 $2,522,835.68 $2,112,708.86 $156,114.64
ADJ : RECALCULATION 0.00 0.00 0.00 0.00
------------------------------------------------------------
13,434,369.62 2,522,835.68 2,112,708.86 156,114.64
LESS: SERVICE FEE (7.03 & 5.04) 127,123.69 27,137.02 14,927.79 3,342.33
CONTINGENCY FEE (7.03 & 5.04) 127,123.69 27,137.02 14,927.79 3,342.33
OTHER SERVICER FEES (Late Charges / Escrow) (7.03 & 5.04) 9,883.93 2,848.29 1,325.00 20.00
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00 0.00
------------------------------------------------------------
264,131.31 57,122.33 31,180.58 6,704.66
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 442,655.19 101,123.87 36,645.17 0.00
PRE-FUNDING ACCOUNT TRANSFER (6.02) 853,931.34 170,888.41 2,664.43 542.58
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 545,866.11 52,088.50 120,892.86 30,116.14
------------------------------------------------------------
1,842,452.64 324,100.77 160,202.46 30,658.72
LESS: EXCESS SPREAD (I-19) 1,629,183.83 302,485.00 289,635.18 4,464.53
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00 0.00
------------------------------------------------------------
1,629,183.83 302,485.00 289,635.18 4,464.53
------------------------------------------------------------
AVAILABLE REMITTANCE AMOUNT 13,383,507.12 2,487,329.12 1,952,095.56 175,604.18
============================================================
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 163,748,539.02
(B) CLASS A-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 79,076,569.71
(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
</TABLE>
<PAGE>
(G) CLASS A-12 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 17,237,096.91
(H) CLASS A-13 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 46,341,000.00
(I) CLASS A-14 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 14,337,000.00
(J) CLASS A-15 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 20,364,000.00
(K) CLASS A-16 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 19,968,332.49
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS A-1 4,687,082.50
CLASS A-2 4,687,054.76
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: 9,374,137.26
CLASS A-10 1,093,754.19
CLASS A-11 650,000.00
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT: 1,743,754.19
CLASS A-12 1,625,723.97
CLASS A-13 0.00
CLASS A-14 0.00
CLASS A-15 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT: 1,625,723.97
CLASS A-16 36,796.07
TOTAL POOL IV PRINCIPAL DISTRIBUTION AMOUNT: 36,796.07
4.TOTAL AMOUNT OF POOL I, II , III & IV
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 8,722,505.58
POOL II 453,924.90
POOL III 6,328,892.14
POOL IV 1,227,126.49
(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 DUE PERIOD # ACCOUNTS DOLLARS
POOL I 127 4,503,124.68
POOL I 16 1,123,449.46
POOL I 73 947,411.22
POOL I 0 0.00
<PAGE>
<TABLE>
<S> <C>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 453,546.96
POOL II 208,394.92
POOL III 18,902.73
POOL IV 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 3,042,529.17
POOL II 193,106.90
POOL III 399,630.42
POOL IV 5,822.05
9. AMOUNT OF INTEREST RECEIVED
POOL I 5,425,284.88
POOL II 995,036.11
POOL III 742,329.29
POOL IV 150,272.59
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 442,655.19
POOL II 101,123.87
POOL III 36,645.17
POOL IV 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 1,402.65
POOL II 663.89
POOL III 266.38
POOL IV 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 916,991.82
(B) PRINCIPAL DISTRIBUTION AMOUNT 4,687,082.50
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 5,604,074.32
CLASS A-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 435,580.10
(B) PRINCIPAL DISTRIBUTION AMOUNT 4,687,054.76
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-2 REMITTANCE AMOUNT 5,122,634.86
CLASS A-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 481,224.88
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-3 REMITTANCE AMOUNT 481,224.88
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
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 5,521,079.01
(B) PRINCIPAL DISTRIBUTION AMOUNT 9,374,137.26
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 14,895,216.28
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 621,254.93
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,093,754.19
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 1,715,009.12
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS A-11 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 350,680.18
(B) PRINCIPAL DISTRIBUTION AMOUNT 650,000.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-11 REMITTANCE AMOUNT 1,000,680.18
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 971,935.11
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,743,754.19
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 2,715,689.30
CLASS A-12 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 93,942.18
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,625,723.97
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-12 REMITTANCE AMOUNT 1,719,666.15
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 582,280.05
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,625,723.97
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 2,208,004.02
CLASS A-16 (POOL IV) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 133,288.62
(B) PRINCIPAL DISTRIBUTION AMOUNT 36,796.07
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL IV REMITTANCE AMOUNT 170,084.69
</TABLE>
<PAGE>
<TABLE>
<S> <C>
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 159,061,456.52
(B) CLASS A-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 74,389,514.95
(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 122,951,323.89
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 73,800,000.00
(L) CLASS A-12 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 15,611,372.94
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(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 19,931,536.42
(Q) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 910,258,971.47
(R) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 196,751,323.89
(S) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 96,653,372.94
(T) TOTAL POOL IV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 19,931,536.42
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR
POOL I, II, III AND IV 100.00%
(B) EXCESS SPREAD (POOL I) 1,629,183.83
EXCESS SPREAD (POOL II) 302,485.00
EXCESS SPREAD (POOL III) 289,635.18
EXCESS SPREAD (POOL IV) 4,464.53
TOTAL EXCESS SPREAD (POOL I, II, III and IV) 2,225,768.53
(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 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 265.024
POOL II 355.142
POOL III 195.579
POOL IV 331.655
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.698%
POOL II 9.169%
POOL III 12.534%
POOL IV 11.273%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 127,123.69
POOL II 27,137.02
POOL III 14,927.79
POOL IV 3,342.33
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 127,123.69
POOL II 27,137.02
POOL III 14,927.79
POOL IV 3,342.33
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 41,144.68
POOL II 8,270.63
POOL III 4,094.96
POOL IV 832.01
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 76,330.00
POOL II 19,850.00
POOL III 24,570.00
POOL IV 9,152.00
(E) FHA PREMIUM ACCOUNT 5,061.76
(F) CLASS A-11 AUCTION AGENT FEE 16,596.15
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE
SERVICERS PURSUANT TO: POOL I POOL II
(A) SECTION 5.04 (b) 0.00 0.00
(B) SECTION 5.04 (c) 0.00 0.00
(C) SECTION 5.04 (d)(ii) 0.00 0.00
(D) SECTION 5.04 (e) 0.00 0.00
(E) SECTION 5.04 (f)(i) 254,247.38 54,274.04
POOL I POOL IV
(A) SECTION 5.04 (b) 0.00 0.00
(B) SECTION 5.04 (c) 0.00 0.00
(C) SECTION 5.04 (d)(ii) 0.00 0.00
(D) SECTION 5.04 (e) 0.00 0.00
(E) SECTION 5.04 (f)(i) 29,855.58 6,684.66
21. CLASS A-1 POOL FACTOR (I-5): CUSIP #
CURRENT CLASS A-1 PRINCIPAL BALANCE 159,061,456.52 0.94157091 60935B AA7
ORIGINAL CLASS A-1 PRINCIPAL BALANCE 168,932,000.00
CLASS A-2 POOL FACTOR (I-5):
CURRENT CLASS A-2 PRINCIPAL BALANCE 74,389,514.95 0.88285681 60935B AB5
ORIGINAL CLASS A-2 PRINCIPAL BALANCE 84,260,000.00
CLASS A-3 POOL FACTOR (I-5):
CURRENT CLASS A-3 PRINCIPAL BALANCE 84,673,000.00 1.00000000 60935B AC3
ORIGINAL CLASS A-3 PRINCIPAL BALANCE 84,673,000.00
CLASS A-4 POOL FACTOR (I-5):
CURRENT CLASS A-4 PRINCIPAL BALANCE 95,170,000.00 1.00000000 60935B AD1
ORIGINAL CLASS A-4 PRINCIPAL BALANCE 95,170,000.00
CLASS A-5 POOL FACTOR (I-5):
CURRENT CLASS A-5 PRINCIPAL BALANCE 157,038,000.00 1.00000000 60935B AE9
ORIGINAL CLASS A-5 PRINCIPAL BALANCE 157,038,000.00
CLASS A-6 POOL FACTOR (I-5):
CURRENT CLASS A-6 PRINCIPAL BALANCE 65,967,000.00 1.00000000 60935B AF6
ORIGINAL CLASS A-6 PRINCIPAL BALANCE 65,967,000.00
CLASS A-7 POOL FACTOR (I-5):
CURRENT CLASS A-7 PRINCIPAL BALANCE 98,867,000.00 1.00000000 60935B AG4
ORIGINAL CLASS A-7 PRINCIPAL BALANCE 98,867,000.00
CLASS A-8 POOL FACTOR (I-5):
CURRENT CLASS A-8 PRINCIPAL BALANCE 107,254,000.00 1.00000000 60935B AH2
ORIGINAL CLASS A-8 PRINCIPAL BALANCE 107,254,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
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 910,258,971.47 0.97877309
ORIGINAL POOL I PRINCIPAL BALANCE 930,000,000.00
CLASS A-10 FACTOR:
CURRENT CLASS A-10 PRINCIPAL BALANCE 122,951,323.89 0.98361059 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 73,800,000.00 0.98400000 60935B AL3
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 75,000,000.00
POOL II FACTOR:
CURRENT POOL II PRINCIPAL BALANCE 196,751,323.89 0.98375662
ORIGINAL POOL II PRINCIPAL BALANCE 200,000,000.00
CLASS A-12 POOL FACTOR (I-5):
CURRENT CLASS A-10 PRINCIPAL BALANCE 15,611,372.94 0.82347151 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 96,653,372.94 0.96653373
ORIGINAL POOL III PRINCIPAL BALANCE 100,000,000.00
CLASS A-16 (POOL IV) FACTOR (I-5):
CURRENT CLASS A-14 PRINCIPAL BALANCE 19,931,536.42 0.99657682 60935B AR0
ORIGINAL CLASS A-14 PRINCIPAL BALANCE 20,000,000.00
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.698%
POOL II 9.169%
POOL III 12.534%
POOL IV 11.273%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 10.048%
POOL II 8.252%
POOL III 10.684%
POOL IV 10.173%
(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 6.742%
CLASS A-10 AND CLASS A-11 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.957%
CLASS A-12, CLASS A-13, CLASS A-14 AND CLASS A-15
ADJUSTED MORTGAGE LOAN REMITTANCE RATE 7.469%
CLASS A-16 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.010%
</TABLE>
<TABLE>
<S> <C> <C> <C>
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 05/31/96 06/30/96 07/31/96
-------------------------------------
POOL I 10.800% 10.702% 10.698%
POOL II 9.100% 9.116% 9.169%
POOL III 12.500% 12.536% 12.534%
POOL IV 11.250% 11.273% 11.273%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
23. CLASS A-10 REMITTANCE RATE 5.81609%
CLASS A-11 REMITTANCE RATE (BASED ON AUCTION RATE) 5.470%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-10 N/A
24. LIBOR RATE 5.49609%
25. POOL II NET FUNDS CAP (RATE) 8.693%
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 5,061.76
(B) AMOUNT REIMBURURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PUSUANT TO 6.06(b 16,262.70
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 0.00
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
SPREAD ACCOUNT BALANCES
POOL I 6,978,857.15
POOL II 0.00
POOL III 6,003,317.98
POOL IV 1,200,663.60
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT O ( POOL I )
REMIC DELINQUENCIES AS OF -JULY 31, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-I $679,986,724.85 12172 1 TO 29 DAYS 96,720,660.08 1682 14.22%
30 TO 59 DAYS 10,187,863.34 171 1.50%
60 TO 89 DAYS 2,632,516.14 42 0.39%
90 AND OVER 0.00 0 0.00%
FORECLOSURE 35,000.00 1 0.01%
REO PROPERTY 0.00 0 0.00%
TOTALS $109,576,039.56 1,896 16.11%
================================
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -JULY 31, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
1996-B-II$150,695,016.44 1819 1 TO 29 DAYS 15,796,674.00 196 10.48%
30 TO 59 DAYS 2,588,967.82 33 1.72%
60 TO 89 DAYS 318,408.68 5 0.21%
90 AND OVER 0.00 0 0.00%
FORECLOSURE 179,719.09 1 0.12%
REO PROPERTY 0.00 0 0.00%
TOTALS $18,883,769.59 235 12.53%
================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT O ( POOL III )
REMIC DELINQUENCIES AS OF -JULY 31, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-III $76,058,756.65 4843 1 TO 29 DAYS 13,921,893.65 882 18.30%
30 TO 59 DAYS 1,675,763.46 110 2.20%
60 TO 89 DAYS 549,750.79 39 0.72%
90 AND OVER 34,940.00 3 0.05%
CLAIMS PENDING 0.00 0 0.00%
FORECLOSURE 6,343.93 1 0.01%
REO PROPERTY 0.00 0 0.00%
TOTALS $16,188,691.83 1,035 21.28%
===============================
<CAPTION>
EXHIBIT O ( POOL IV )
REMIC DELINQUENCIES AS OF -JULY 31, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-IV 15,369,443.22 77 1 TO 29 DAYS 1,077,627.43 3 7.01%
30 TO 59 DAYS 0.00 0 0.00%
60 TO 89 DAYS 0.00 0 0.00%
90 AND OVER 0.00 0 0.00%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $1,077,627.43 3 7.01%
==============================
</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 original dollar amount as of the
Cut-Off Date.
<TABLE>
<CAPTION>
POOL I
SUBCLAUSE CLASS A- CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
- ---------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 969.32 938.48 1,000.00 1,000.00 1,000.00
(vi) 13.33 26.72 0.00 0.00 0.00
(vii) 1.34 2.69 0.00 0.00 0.00
(viii) 18.01 18.05 0.00 0.00 0.00
(xiii) (a) 5.43 5.17 5.68 5.81 5.98
(b) 27.75 55.63 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) 941.57 882.86 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 1,000.00 992.36
(vi) 0.00 0 0.00 0.00 0.00
(vii) 0.00 0 0.00 0.00 0.45
(viii) 0.00 0 0.00 0.00 0.00
(xiii) (a) 6.15 6.29 6.59 6.78 4.97
(b) 0.00 0 0.00 0.00 8.75
(c) 0.00 0 0.00 0.00 0.00
(d) 0.00 0 0.00 0.00 0.00
(xv) 1,000.00 1,000.00 1,000.00 1,000.00 983.61
(xxxvi) 0.00 0 0 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>
(ii) 24,816.67 909.23 1,000.00 1,000.00 1,000.00 1,000.00
(vi) 0.00 49.97 0.00 0.00 0.00 0.00
(vii) 11.21 1.00 0.00 0.00 0.00 0.00
(viii) 0.00 9.28 0.00 0.00 0.00 0.26
(xiii) (a) 116.89 4.96 5.75 6.13 6.58 6.68
(b) 216.67 85.75 0.00 0.00 0.00 1.58
(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
(xv) 15,447.00 823.47 1,000.00 1,000.00 1,000.00 998.42
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
168,932.00 A-2 84,260.00 A-3 84,673.00 A-4 95,170.00
157,038.00 A-6 65,967.00 A-7 98,867.00 A-8 107,254.00
67,839.00 A-10 125,000.00 A-11 3,000.00 A-12 18,958.00
46,341.00 A-14 14,337.00 A-15 20,364.00 A-16 20,000.00
</TABLE>
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