<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) September 16, 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 September 16,
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: September 16, 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 SEPTEMBER 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) $15,493,628.55 $3,074,645.65 $1,908,451.48 $148,165.24
ADJ : RECALCULATION 0.00 0.00 0.00 0.00
---------------------------------------------------------
15,493,628.55 3,074,645.65 1,908,451.48 148,165.24
LESS: SERVICE FEE (7.03 & 5.04) 137,145.05 28,704.85 15,925.82 3,143.46
CONTINGENCY FEE (7.03 & 5.04) 137,145.05 28,704.85 15,925.82 3,143.46
OTHER SERVICER FEES (Late Charges /
Escrow) (7.03 & 5.04) 44,456.82 15,193.18 1,637.00 0.00
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00 0.00
---------------------------------------------------------
318,746.92 72,602.88 33,488.64 6,286.92
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 0.00 31,154.63 0.00 0.00
PRE-FUNDING ACCOUNT TRANSFER (6.02) 971,983.28 194,512.91 2,664.43 542.58
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 411,548.34 21,947.88 119,518.19 29,909.39
---------------------------------------------------------
1,383,531.61 247,615.43 122,182.62 30,451.97
LESS: EXCESS SPREAD (I-19) 1,588,814.85 279,799.94 281,230.14 5,053.19
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00 0.00
---------------------------------------------------------
1,588,814.85 279,799.94 281,230.14 5,053.19
---------------------------------------------------------
AVAILABLE REMITTANCE AMOUNT 14,969,598.39 2,969,858.26 1,715,915.32 167,277.11
=========================================================
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 159,061,398.09
(B) CLASS A-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 74,389,573.38
(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 122,951,323.89
(F) CLASS A-11 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 73,800,000.00
</TABLE>
<PAGE>
(G) CLASS A-12 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 15,611,372.94
(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 19,931,536.42
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS A-1 5,487,944.41
CLASS A-2 5,487,976.89
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: 10,975,921.30
CLASS A-10 1,368,274.05
CLASS A-11 850,000.00
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT: 2,218,274.05
CLASS A-12 1,390,047.64
CLASS A-13 0.00
CLASS A-14 0.00
CLASS A-15 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT: 1,390,047.64
CLASS A-16 29,321.81
TOTAL POOL IV PRINCIPAL DISTRIBUTION AMOUNT: 29,321.81
4. TOTAL AMOUNT OF POOL I, II, III & IV
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 10,154,047.36
POOL II 679,182.71
POOL III 6,638,943.85
POOL IV 1,268,154.93
(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 211 8,023,834.92
POOL II 37 1,817,563.81
POOL III 74 744,216.69
POOL IV 0 0.00
<PAGE>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 970,786.74
POOL II 123,894.26
POOL III 188,070.49
POOL IV 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 587,909.84
POOL II 55,123.23
POOL III 172,724.81
POOL IV 5,886.10
9. AMOUNT OF INTEREST RECEIVED
POOL I 5,866,640.23
POOL II 1,062,871.17
POOL III 798,239.22
POOL IV 142,279.14
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 31,154.63
POOL III 0.00
POOL IV 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 1,167.33
POOL II 94.88
POOL III 735.30
POOL IV 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 1,835.99
POOL II 0.00
POOL III 0.00
POOL IV 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST 890,743.83
(B) PRINCIPAL DISTRIBU 5,487,944.41
(C) CARRY FORWARD A 0.00
(D) MONTHLY ADVANCE 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 6,378,688.24
CLASS A-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST 409,762.57
(B) PRINCIPAL DISTRIBU 5,487,976.89
(C) CARRY FORWARD A 0.00
(D) MONTHLY ADVANCE 0.00
TOTAL CLASS A-2 REMITTANCE AMOUNT 5,897,739.46
CLASS A-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST 481,224.88
(B) PRINCIPAL DISTRIBU 0.00
(C) CARRY FORWARD A 0.00
(D) MONTHLY ADVANCE 0.00
TOTAL CLASS A-3 REMITTANCE AMOUNT 481,224.88
<PAGE>
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 5,469,013.49
(B) PRINCIPAL DISTRIBUTION AMOUNT 10,975,921.30
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 16,444,934.79
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 627,530.44
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,368,274.05
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 1,995,804.49
<PAGE>
CLASS A-11 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 358,832.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 850,000.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-11 REMITTANCE AMOUNT 1,208,832.00
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 986,362.44
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,218,274.05
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 3,204,636.49
CLASS A-12 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 85,081.98
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,390,047.64
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-12 REMITTANCE AMOUNT 1,475,129.62
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 573,419.86
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,390,047.64
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 1,963,467.50
CLASS A-16 (POOL IV) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 133,043.01
(B) PRINCIPAL DISTRIBUTION AMOUNT 29,321.81
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL IV REMITTANCE AMOUNT 162,364.82
<PAGE>
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 153,573,453.68
(B) CLASS A-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 68,901,596.49
(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 121,583,049.85
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 72,950,000.00
(L) CLASS A-12 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 14,221,325.30
<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 19,902,214.61
(Q) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 899,283,050.17
(R) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 194,533,049.85
(S) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 95,263,325.30
(T) TOTAL POOL IV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 19,902,214.61
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II, III AND IV 100.00%
(B) EXCESS SPREAD (POOL I) 1,588,814.85
EXCESS SPREAD (POOL II) 279,799.94
EXCESS SPREAD (POOL III) 281,230.14
EXCESS SPREAD (POOL IV) 5,053.19
TOTAL EXCESS SPREAD (POOL I, II, III and IV) 2,154,898.12
(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 1,835.99
POOL II 0.00
POOL III 0.00
POOL IV 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 264.526
POOL II 354.146
POOL III 194.748
POOL IV 330.700
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.693%
POOL II 9.250%
POOL III 12.531%
POOL IV 11.273%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 137,145.05
POOL II 28,704.85
POOL III 15,925.82
POOL IV 3,143.46
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 137,145.05
POOL II 28,704.85
POOL III 15,925.82
POOL IV 3,143.46
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 37,927.46
POOL II 8,197.97
POOL III 4,027.22
POOL IV 830.48
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT - MBIA
POOL I 75,551.00
POOL II 19,675.00
POOL III 24,163.00
POOL IV 9,135.00
(E) FHA PREMIUM ACCOUNT 5,487.74
(F) CLASS A-11 AUCTION AGENT FEE 16,451.25
<CAPTION>
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE
<S> <C> <C> <C>
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. 274,290.10 57,409.70
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. 31,851.64 6,286.92
<CAPTION>
<S> <C> <C> <C>
21. CLASS CUSIP #
CURRENT CLASS A 153,573,453.68 0.90908445 60935B AA7
ORIGINAL CLASS A- 168,932,000.00
CLASS A-2 POOL FACTOR (I-5):
CURRENT CLASS A 68,901,596.49 0.81772604 60935B AB5
ORIGINAL CLASS A- 84,260,000.00
CLASS A-3 POOL FACTOR (I-5):
CURRENT CLASS A 84,673,000.00 1.00000000 60935B AC3
ORIGINAL CLASS A- 84,673,000.00
CLASS A-4 POOL FACTOR (I-5):
CURRENT CLASS A 95,170,000.00 1.00000000 60935B AD1
ORIGINAL CLASS A- 95,170,000.00
CLASS A-5 POOL FACTOR (I-5):
CURRENT CLASS A 157,038,000.00 1.00000000 60935B AE9
ORIGINAL CLASS A- 157,038,000.00
CLASS A-6 POOL FACTOR (I-5):
CURRENT CLASS A 65,967,000.00 1.00000000 60935B AF6
ORIGINAL CLASS A- 65,967,000.00
CLASS A-7 POOL FACTOR (I-5):
CURRENT CLASS A 98,867,000.00 1.00000000 60935B AG4
ORIGINAL CLASS A- 98,867,000.00
CLASS A-8 POOL FACTOR (I-5):
CURRENT CLASS A 107,254,000.00 1.00000000 60935B AH2
ORIGINAL CLASS A- 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 899,283,050.17 0.96697102
ORIGINAL POOL I PRINCIPAL BALANCE 930,000,000.00
CLASS A-10 FACTOR:
CURRENT CLASS A-10 PRINCIPAL BALANCE 121,583,049.85 0.97266440 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 72,950,000.00 0.97266667 60935B AL3
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 75,000,000.00
POOL II FACTOR:
CURRENT POOL II PRINCIPAL BALANCE 194,533,049.85 0.97266525
ORIGINAL POOL II PRINCIPAL BALANCE 200,000,000.00
CLASS A-12 POOL FACTOR (I-5):
CURRENT CLASS A-10 PRINCIPAL BALANCE 14,221,325.30 0.75014903 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 POOL III PRINCIPAL BALANCE 95,263,325.30 0.95263325
ORIGINAL POOL III PRINCIPAL BALANCE 100,000,000.00
CLASS A-16 (POOL IV) FACTOR (I-5):
CURRENT CLASS A-14 PRINCIPAL BALANCE 19,902,214.61 0.99511073 60935B AR0
ORIGINAL CLASS A-14 PRINCIPAL BALANCE 20,000,000.00
<CAPTION>
<S> <C>
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.693%
POOL II 9.250%
POOL III 12.531%
POOL IV 11.273%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 10.043%
POOL II 8.333%
POOL III 10.681%
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 REMITT 6.741%
CLASS A-10 AND CLASS A-11 ADJUSTED MORTGAGE LOAN REMITTANCE 5.910%
CLASS A-12, CLASS A-13, CLASS A-14 AND CLASS A-15
ADJUSTED MORTGAGE LOAN REMITTANCE RATE 7.478%
CLASS A-16 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.010%
<CAPTION>
<S> <C> <C> <C>
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 06/30/96 07/31/96 08/31/96
POOL I 10.702% 10.698% 10.693%
POOL II 9.116% 9.169% 9.250%
POOL III 12.536% 12.534% 12.531%
POOL IV 11.273% 11.273% 11.273%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
23. CLASS A-10 REMITTANCE RATE 5.74188%
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 5.42188%
25. POOL II NET FUNDS CAP (RATE) 8.746%
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 5,487.74
(B) AMOUNT REIMBURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PUSUANT TO 6.06(b)(i) 935.25
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
(A) SPREAD ACCOUNT BALANCES
POOL I 7,037,298.48
POOL II 0.00
POOL III 6,053,590.09
POOL IV 1,210,718.02
(B) AMOUNT TO BE DEPOSITED INTO POOL III
SPREAD ACCOUNT DUE TO TRIGGER ACTIVATION 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT O (POOL I)
REMIC DELINQUENCIES AS OF -AUGUST 31, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-I $670,402,357.36 12000 1 TO 29 DAYS 112,359,658.86 1924 16.76%
30 TO 59 DAYS 11,395,628.46 205 1.70%
60 TO 89 DAYS 3,455,012.44 63 0.52%
90 AND OVER 1,981,236.15 29 0.30%
FORECLOSURE 127,895.08 3 0.02%
REO PROPERTY 0.00 0 0.00%
TOTALS $129,319,430.99 2,224 19.29%
========================================
</TABLE>
<TABLE>
<CAPTION>
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -AUGUST 31, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-II $148,698,435.14 1798 1 TO 29 DAYS 22,212,445.66 281 14.94%
30 TO 59 DAYS 2,094,580.80 32 1.41%
60 TO 89 DAYS 1,258,156.13 15 0.85%
90 AND OVER 340,864.07 4 0.23%
FORECLOSURE 24,728.93 1 0.02%
REO PROPERTY 0.00 0 0.00%
TOTALS $25,930,775.59 333 17.44%
=======================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT O (POOL III)
REMIC DELINQUENCIES AS OF -AUGUST 31, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-II $74,953,744.66 4779 1 TO 29 DAYS 13,735,141.14 887 18.32%
30 TO 59 DAYS 1,992,547.07 135 2.66%
60 TO 89 DAYS 640,695.91 44 0.85%
90 AND OVER 375,384.68 27 0.50%
CLAIMS PENDING 0.00 0 0.00%
FORECLOSURE 21,540.54 2 0.03%
REO PROPERTY 0.00 0 0.00%
TOTALS $16,765,309.34 1,095 22.37%
=====================================
</TABLE>
<TABLE>
<CAPTION>
EXHIBIT O (POOL IV)
REMIC DELINQUENCIES AS OF -AUGUST 31, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-IV 15,363,557.12 77 1 TO 29 DAYS 929,728.61 4 6.05%
30 TO 59 DAYS 633,627.43 2 4.12%
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 $1,563,356.04 6 10.18%
====================================
</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-1 CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 941.57 882.86 1,000.00 1,000.00 1,000.00
(vi) 23.75 47.61 0.00 0.00 0.00
(vii) 2.87 5.76 0.00 0.00 0.00
(viii) 3.48 3.49 0.00 0.00 0.00
(xiii) (a) 5.27 4.86 5.68 5.81 5.98
(b) 32.49 65.13 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) 909.08 817.73 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 1,000.00 983.61
(vi) 0.00 0 0.00 0.00 0.00
(vii) 0.00 0 0.00 0.00 0.28
(viii) 0.00 0 0.00 0.00 0.00
(xiii) (a) 6.15 6.29 6.59 6.78 5.02
(b) 0.00 0 0.00 0.00 10.95
(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 1,000.00 972.66
(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> <C>
(ii) 24,600.00 823.47 1,000.00 1,000.00 1,000.00 996.58
(vi) 0.00 39.26 0.00 0.00 0.00 0.00
(vii) 6.89 9.92 0.00 0.00 0.00 0.00
(viii) 0.00 17.62 0.00 0.00 0.00 0.29
(xiii) (a) 119.61 4.49 5.75 6.13 6.58 6.65
(b) 283.33 73.32 0.00 0.00 0.00 1.47
(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) 15,447.00 750.15 1,000.00 1,000.00 1,000.00 995.11
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
</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.
POOL I
SUBCLAUSE CLASS A- CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
- -----------------------------------------------------------------------
(ii) 941.57 882.86 1,000.00 1,000.00 1,000.00
(vi) 23.75 47.61 0.00 0.00 0.00
(vii) 2.87 5.76 0.00 0.00 0.00
(viii) 3.48 3.49 0.00 0.00 0.00
(xiii) (a) 5.27 4.86 5.68 5.81 5.98
(b) 32.49 65.13 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) 909.08 817.73 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00
POOL II
SUBCLAUSE CLASS A-6 CLASS A-7 CLASS A-8 CLASS A-9 CLASS A-10
- -----------------------------------------------------------------------
(ii) 1,000.00 1,000.00 1,000.00 1,000.00 983.61
(vi) 0.00 0 0.00 0.00 0.00
(vii) 0.00 0 0.00 0.00 0.28
(viii) 0.00 0 0.00 0.00 0.00
(xiii) (a) 6.15 6.29 6.59 6.78 5.02
(b) 0.00 0 0.00 0.00 10.95
(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 1,000.00 972.66
(xxxvi) 0.00 0 0 0.00 0.00
<TABLE>
<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) 24,600.00 823.47 1,000.00 1,000.00 1,000.00 996.58
(vi) 0.00 39.26 0.00 0.00 0.00 0.00
(vii) 6.89 9.92 0.00 0.00 0.00 0.00
(viii) 0.00 17.62 0.00 0.00 0.00 0.29
(xiii) (a) 119.61 4.49 5.75 6.13 6.58 6.65
(b) 283.33 73.32 0.00 0.00 0.00 1.47
(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) 15,447.00 750.15 1,000.00 1,000.00 1,000.00 995.11
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 168,932.00 A-2 84,260.00 A-3 84,673.00 A-4 95,170.00
A-5 157,038.00 A-6 65,967.00 A-7 98,867.00 A-8 107,254.00
A-9 67,839.00 A-10 125,000.00 A-11 3,000.00 A-12 18,958.00
A-13 46,341.00 A-14 14,337.00 A-15 20,364.00 A-16 20,000.00
</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.
POOL I
SUBCLAUSE CLASS A CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
- ---------------------------------------------------------------
(ii) 941.57 882.86 1,000.00 1,000.00 1,000.00
(vi) 23.75 47.61 0.00 0.00 0.00
(vii) 2.87 5.76 0.00 0.00 0.00
(viii) 3.48 3.49 0.00 0.00 0.00
(xiii) (a) 5.27 4.86 5.68 5.81 5.98
(b) 32.49 65.13 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) 909.08 817.73 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00
POOL II
SUBCLAUSE CLASS A-6 CLASS A-7 CLASS A-8 CLASS A-9 CLASS A-10
(ii) 1,000.00 1,000.00 1,000.00 1,000.00 983.61
(vi) 0.00 0 0.00 0.00 0.00
(vii) 0.00 0 0.00 0.00 0.28
(viii) 0.00 0 0.00 0.00 0.00
(xiii) (a) 6.15 6.29 6.59 6.78 5.02
(b) 0.00 0 0.00 0.00 10.95
(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 1,000.00 972.66
(xxxvi) 0.00 0 0 0.00 0.00
<PAGE>
<TABLE>
<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) 24,600.00 823.47 1,000.00 1,000.00 1,000.00 996.58
(vi) 0.00 39.26 0.00 0.00 0.00 0.00
(vii) 6.89 9.92 0.00 0.00 0.00 0.00
(viii) 0.00 17.62 0.00 0.00 0.00 0.29
(xiii) (a) 119.61 4.49 5.75 6.13 6.58 6.65
(b) 283.33 73.32 0.00 0.00 0.00 1.47
(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) 15,447.00 750.15 1,000.00 1,000.00 1,000.00 995.11
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 168,932.00 A-2 84,260.00 A-3 84,673.00 A-4 95,170.00
A-5 157,038.00 A-6 65,967.00 A-7 98,867.00 A-8 107,254.00
A-9 67,839.00 A-10 125,000.00 A-11 3,000.00 A-12 18,958.00
A-13 46,341.00 A-14 14,337.00 A-15 20,364.00 A-16 20,000.00
</TABLE>
