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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) October 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 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 Remittance of October
15, 1996
Item 7 Financial Statements and Exhibits
---------------------------------
The quarterly financial statement for MBIA Inc. is incorporated by
reference to the Form 10-Q filed by MBIA Inc. with the Securities and
Exchange Commission on August 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: October 29, 1996
<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 OCTOBER 10, 1996 DETERMINATION DATE.
1. AGGREGATE AMOUNT RECEIVED (5.03 b)
ADJ : RECALCULATION
LESS: SERVICE FEE (7.03 & 5.04)
CONTINGENCY FEE (7.03 & 5.04)
OTHER SERVICER FEES (Late Charges / Escrow) (7.03 & 5.04)
UNREIMBURSED MONTHLY ADVANCES (5.04 b)
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12)
PRE-FUNDING ACCOUNT TRANSFER (6.02)
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02)
LESS: EXCESS SPREAD (I-19)
SUBORDINATION REDUCTION AMOUNT (I-56)
AVAILABLE REMITTANCE AMOUNT
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE
(B) CLASS A-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE
(C) CLASS A-3 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE
(D) CLASS A-4 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE
(E) CLASS A-5 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE
(F) CLASS A-6 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE
(G) CLASS A-7 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE
(H) CLASS A-8 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE
(I) CLASS A-9 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE
(J) CLASS A-10 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE
(F) CLASS A-11 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE
<PAGE>
POOL I POOL II POOL III POOL IV
$21,102,663.90 $5,000,600.61 $2,317,021.38 $184,234.52
0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------
21,102,663.90 5,000,600.61 2,317,021.38 184,234.52
175,300.42 34,669.64 19,990.65 3,900.03
175,300.42 34,669.64 19,990.65 3,900.03
44,827.42 14,729.54 1,626.25 0.00
0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------
395,428.26 84,068.82 41,607.55 7,800.06
71,485.31 139,891.65 0.00 0.00
750,507.23 150,199.81 68,066.97 14,852.76
442,397.21 38,566.91 36,483.05 11,403.37
- -----------------------------------------------------------------------
1,264,389.75 328,658.37 104,550.02 26,256.13
3,368,985.72 687,354.13 540,714.45 45,821.19
0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------
3,368,985.72 687,354.13 540,714.45 45,821.19
- ----------------------------------------------------------------------
18,602,639.67 4,557,836.02 1,839,249.39 156,869.41
======================================================================
153,573,453.68
68,901,596.49
84,673,000.00
95,170,000.00
157,038,000.00
65,967,000.00
98,867,000.00
107,254,000.00
67,839,000.00
121,583,049.85
72,950,000.00
<PAGE>
(G) CLASS A-12 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 14,221,325.30
(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 19,902,214.61
3. PRINCIPAL DISTRIBUTION AMOUNTS :
CLASS A-1 8,206,935.79
CLASS A-2 8,163,890.93
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 : 16,370,826.72
CLASS A-10 2,720,229.35
CLASS A-11 1,575,000.00
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT : 4,295,229.35
CLASS A-12 1,780,929.39
CLASS A-13 0.00
CLASS A-14 0.00
CLASS A-15 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT : 1,780,929.39
CLASS A-16 140,529.20
TOTAL POOL IV PRINCIPAL DISTRIBUTION AMOUNT : 140,529.20
4.TOTAL AMOUNT OF POOL I, II , III & IV
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 11,575,023.73
POOL II 872,164.90
POOL III 6,948,142.01
POOL IV 1,296,423.14
(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 420 9,876,335.49
POOL I 59 2,688,602.14
POOL I 109 900,658.26
POOL I 0 0.00
<PAGE>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 381,494.87
POOL II 645,061.12
POOL III 179,680.21
POOL IV 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 3,175,248.63
POOL II 356,077.88
POOL III 230,561.58
POOL IV 6,837.54
9. AMOUNT OF INTEREST RECEIVED
POOL I 7,624,757.49
POOL II 1,296,129.93
POOL III 1,001,220.23
POOL IV 177,396.98
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 71,485.31
POOL II 139,891.65
POOL III 0.00
POOL IV 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 2,934.37
POOL II 259.52
POOL III 271.01
POOL IV 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 502.35
POOL II 0.00
POOL III 0.00
POOL IV 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A 860,011.34
(B 8,206,935.79
(C 0.00
(D 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 9,066,947.13
CLASS A-2 REMITTANCE AMOUNT:
(A 379,532.96
(B 8,163,890.93
(C 0.00
(D 0.00
TOTAL CLASS A-2 REMITTANCE AMOUNT 8,543,423.89
CLASS A-3 REMITTANCE AMOUNT:
(A 481,224.88
(B 0.00
(C 0.00
(D 0.00
TOTAL CLASS A-3 REMITTANCE AMOUNT 481,224.88
<PAGE>
<TABLE>
<CAPTION>
<S> <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 5,408,051.39
(B) PRINCIPAL DISTRIBUTION AMOUNT 16,370,826.72
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 21,778,878.11
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 570,404.82
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,720,229.35
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 3,290,634.17
</TABLE>
<PAGE>
CLASS A-11 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 323,209.03
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,575,000.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-11 REMITTANCE AMOUNT 1,898,209.03
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 893,613.85
(B) PRINCIPAL DISTRIBUTION AMOUNT 4,295,229.35
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 5,188,843.19
CLASS A-12 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 77,506.22
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,780,929.39
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-12 REMITTANCE AMOUNT 1,858,435.61
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 565,844.10
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,780,929.39
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 2,346,773.49
CLASS A-16 (POOL IV) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 132,847.28
(B) PRINCIPAL DISTRIBUTION AMOUNT 140,529.20
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL IV REMITTANCE AMOUNT 273,376.48
<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 145,366,517.90
(B) CLASS A-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 60,737,705.55
(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 118,862,820.50
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 71,375,000.00
(L) CLASS A-12 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 12,440,395.91
<PAGE>
<TABLE>
<CAPTION>
<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 19,761,685.41
(Q) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 882,912,223.45
(R) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 190,313,340.78
(S) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 93,482,395.91
(T) TOTAL POOL IV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 19,761,685.41
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II, III AND IV) 100.00%
(B) EXCESS SPREAD (POOL I) 3,368,985.72
EXCESS SPREAD (POOL II) 687,354.13
EXCESS SPREAD (POOL III) 540,714.45
EXCESS SPREAD (POOL IV) 45,821.19
TOTAL EXCESS SPREAD (POOL I, II, III and IV) 4,642,875.50
(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 2,338.34
POOL II 0.00
POOL III 0.00
POOL IV 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 265.861
POOL II 353.998
POOL III 193.655
POOL IV 329.975
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.863%
POOL II 9.328%
POOL III 12.531%
POOL IV 11.344%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 175,300.42
POOL II 34,669.64
POOL III 19,990.65
POOL IV 3,900.03
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 175,300.42
POOL II 34,669.64
POOL III 19,990.65
POOL IV 3,900.03
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 37,470.13
POOL II 8,105.54
POOL III 3,969.31
POOL IV 829.26
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 74,640.00
POOL II 19,453.00
POOL III 23,816.00
POOL IV 9,122.00
(E) FHA PREMIUM ACCOUNT 5,405.05
(F) CLASS A-11 AUCTION AGENT FEE 16,261.77
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) 350,600.84 69,339.28
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) 39,981.30 7,800.06
21. CLASS A-1 POOL FACTOR (I-5): CUSIP #
CURRENT CLASS A-1 PRINCIPAL BALANCE 145,366,517.90 0.86050315 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 60,737,705.55 0.72083676 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>
<CAPTION>
<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 882,912,223.45 0.94936798
ORIGINAL POOL I PRINCIPAL BALANCE 930,000,000.00
CLASS A-10 FACTOR:
CURRENT CLASS A-10 PRINCIPAL BALANCE 118,862,820.50 0.95090256 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 71,375,000.00 0.95166667 60935B AL3
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 75,000,000.00
POOL II FACTOR:
CURRENT POOL II PRINCIPAL BALANCE 190,313,340.78 0.95156670
ORIGINAL POOL II PRINCIPAL BALANCE 200,000,000.00
CLASS A-12 POOL FACTOR (I-5):
CURRENT CLASS A-10 PRINCIPAL BALANCE 12,440,395.91 0.65620825 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 93,482,395.91 0.93482396
ORIGINAL POOL III PRINCIPAL BALANCE 100,000,000.00
CLASS A-16 (POOL IV) FACTOR (I-5):
CURRENT CLASS A-14 PRINCIPAL BALANCE 19,761,685.41 0.98808427 60935B AR0
ORIGINAL CLASS A-14 PRINCIPAL BALANCE 20,000,000.00
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.863%
POOL II 9.328%
POOL III 12.531%
POOL IV 11.344%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 10.213%
POOL II 8.411%
POOL III 10.681%
POOL IV 10.244%
(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 6.739%
CLASS A-10 AND CLASS A-11 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.970%
CLASS A-12, CLASS A-13, CLASS A-14 AND CLASS A-15
ADJUSTED MORTGAGE LOAN REMITTANCE RATE 7.489%
CLASS A-16 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.010%
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 07/31/96 08/31/96 09/30/96
----------------------------------
POOL I 10.698% 10.693% 10.863%
POOL II 9.169% 9.250% 9.328%
POOL III 12.534% 12.531% 12.531%
POOL IV 11.273% 11.273% 11.344%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
23. CLASS A-10 REMITTANCE RATE 5.82391%
CLASS A-11 REMITTANCE RATE (BASED ON AUCTION RATE) 5.500%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-10 N/A
24. LIBOR RATE 5.50391%
25. POOL II NET FUNDS CAP (RATE) 8.827%
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 5,405.05
(B) AMOUNT REIMBURURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PUSUANT TO 6.06(b)(i) 2,428.70
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
(A) SPREAD ACCOUNT BALANCES
POOL I 7,065,387.40
POOL II 0.00
POOL III 6,077,752.60
POOL IV 1,215,550.52
(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 -SEPTEMBER 30, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-I $890,316,514.33 16922 1 TO 29 DAYS 161,847,008.84 3001 18.18%
30 TO 59 DAYS 10,991,145.78 215 1.23%
60 TO 89 DAYS 6,050,836.61 102 0.68%
90 AND OVER 5,371,407.60 91 0.60%
FORECLOSURE 1,308,846.73 28 0.15%
REO PROPERTY 0.00 0 0.00%
TOTALS $185,569,245.56 3,437 20.84%
================ ======= =======
</TABLE>
<TABLE>
<CAPTION>
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -SEPTEMBER 30, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-II $191,639,255.83 2331 1 TO 29 DAYS 30,129,988.53 372 15.72%
30 TO 59 DAYS 2,883,867.98 40 1.50%
60 TO 89 DAYS 1,137,132.31 21 0.59%
90 AND OVER 1,230,645.97 14 0.64%
FORECLOSURE 868,429.47 10 0.45%
REO PROPERTY 0.00 0 0.00%
TOTALS $36,250,064.26 457 18.92%
================ ======= =======
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT O ( POOL III )
REMIC DELINQUENCIES AS OF -SEPTEMBER 30, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-III $94,819,181.27 6082 1 TO 29 DAYS 20,949,853.56 1337 22.09%
30 TO 59 DAYS 1,435,261.82 102 1.51%
60 TO 89 DAYS 845,620.49 53 0.89%
90 AND OVER 1,216,189.02 84 1.28%
CLAIMS PENDING 0.00 0 0.00%
FORECLOSURE 64,915.23 5 0.07%
REO PROPERTY 0.00 0 0.00%
TOTALS $24,511,840.12 1,581 25.85%
=============== ======= =======
</TABLE>
<TABLE>
<CAPTION>
EXHIBIT O ( POOL IV )
REMIC DELINQUENCIES AS OF -SEPTEMBER 30, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-IV 19,842,558.03 102 1 TO 29 DAYS 1,713,728.61 8 8.64%
30 TO 59 DAYS 344,127.43 1 1.73%
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 $2,057,856.04 9 10.37%
=============== ======= =======
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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.
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) 909.08 817.73 1,000.00 1,000.00 1,000.00
(vi) 29.23 58.61 0.00 0.00 0.00
(vii) 1.13 2.26 0.00 0.00 0.00
(viii) 18.80 18.84 0.00 0.00 0.00
(xiii) (a) 5.09 4.50 5.68 5.81 5.98
(b) 48.58 96.89 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) 860.50 720.84 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 1,000.00 972.66
(vi) 0.00 0 0.00 0.00 0.00
(vii) 0.00 0 0.00 0.00 0.55
(viii) 0.00 0 0.00 0.00 0.00
(xiii) (a) 6.15 6.29 6.59 6.78 4.56
(b) 0.00 0 0.00 0.00 21.76
(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 1,000.00 950.90
(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) 24,316.67 750.15 1,000.00 1,000.00 1,000.00 995.11
(vi) 0.00 47.51 0.00 0.00 0.00 0.00
(vii) 13.70 9.48 0.00 0.00 0.00 0.00
(viii) 0.00 18.76 0.00 0.00 0.00 0.34
(xiii) (a) 107.74 4.09 5.75 6.13 6.58 6.64
(b) 525.00 93.94 0.00 0.00 0.00 7.03
(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) 15,447.00 656.21 1,000.00 1,000.00 1,000.00 988.08
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
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