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Previous: MONEY STORE AUTO TRUST 1996-1, 8-K, 1996-11-27 |
Next: FIRST AMERICAN STRATEGY FUNDS INC, NSAR-B, 1996-11-27 |
<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) November 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 registrant as specified in its charter)
New Jersey 33-98734 22-2293022
- ---------- -------- ----------
(State or other (Commission File (IRS Employer
jurisdiction of 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 November 15, 1996 Remittance
Date.
Item 7 Financial Statements and Exhibits
---------------------------------
The quarterly financial statement for MBIA Inc is incorporated by
reference to the Form 10Q filed by MBIA 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: November 15, 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 NOVEMBER 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) $21,349,354.49 $5,336,788.42 $2,413,706.10 $189,881.49
ADJ: RECALCULATION 0.00 0.00 0.00 0.00
----------------------------------------------------------------
21,349,354.49 5,336,788.42 2,413,706.10 189,881.49
LESS: SERVICE FEE (7.03 & 5.04) 174,642.01 36,441.48 18,586.71 4,019.98
CONTINGENCY FEE (7.03 & 5.04) 174,642.01 36,441.48 18,586.71 4,019.98
OTHER SERVICER FEES (Late Charges / Escrow)
(7.03 & 5.04) 72,793.42 30,712.19 3,000.35 50.00
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00 0.00
----------------------------------------------------------------
422,077.44 103,595.15 40,173.77 8,089.96
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 140,032.16 35,168.12 23,573.88 7,440.20
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
---------------------------------------------------------------
140,032.16 35,168.12 23,573.88 7,440.20
LESS: EXCESS SPREAD (I-19) 2,283,113.10 459,561.13 367,474.41 47,629.11
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00 0.00
---------------------------------------------------------------
2,283,113.10 459,561.13 367,474.41 47,629.11
---------------------------------------------------------------
AVAILABLE REMITTANCE AMOUNT 18,784,196.11 4,808,800.26 2,029,631.80 141,602.62
===============================================================
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 145,366,517.90
(B) CLASS A-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 60,737,705.55
(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 118,862,820.50
(K) CLASS A-11 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 71,375,000.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
(L) CLASS A-12 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 12,440,395.91
(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 19,761,685.41
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS A-1 7,820,034.89
CLASS A-2 7,820,081.19
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: 15,640,116.08
CLASS A-10 2,685,817.56
CLASS A-11 1,600,000.00
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT: 4,285,817.56
CLASS A-12 1,807,693.89
CLASS A-13 0.00
CLASS A-14 0.00
CLASS A-15 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT: 1,807,693.89
CLASS A-16 47,442.08
TOTAL POOL IV PRINCIPAL DISTRIBUTION AMOUNT: 47,442.08
4.TOTAL AMOUNT OF POOL I, II , III & IV
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 14,488,192.36
POOL II 1,391,806.45
POOL III 7,439,788.72
POOL IV 1,301,473.29
(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
246 11,439,984.49
43 3,513,105.22
83 1,029,416.93
0 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 1,197,415.96
POOL II 143,512.14
POOL III 77,608.45
POOL IV 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 1,068,886.55
POOL II 267,834.13
POOL III 370,367.52
POOL IV 7,852.93
9. AMOUNT OF INTEREST RECEIVED
POOL I 7,570,274.07
POOL II 1,381,624.74
POOL III 929,402.00
POOL IV 181,978.56
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 140,032.16
POOL II 35,168.12
POOL III 23,573.88
POOL IV 7,440.20
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 2,739.67
POOL II 990.64
POOL III 68.05
POOL IV 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 10,839.92
POOL II 22,155.52
POOL III 0.00
POOL IV 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 814,052.50
(B) PRINCIPAL DISTRIBUTION AMOUN 7,820,034.89
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPT 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 8,634,087.39
CLASS A-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 334,563.53
(B) PRINCIPAL DISTRIBUTION AMOUN 7,820,081.19
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPT 0.00
TOTAL CLASS A-2 REMITTANCE AMOUNT 8,154,644.71
CLASS A-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 481,224.88
(B) PRINCIPAL DISTRIBUTION AMOUN 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPT 0.00
TOTAL CLASS A-3 REMITTANCE AMOUNT 481,224.88
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CLASS A-4 REMITTANCE AMOUNT:
<S> <C>
(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 5,317,123.12
(B) PRINCIPAL DISTRIBUTION AMOUNT 15,640,116.08
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 20,957,239.20
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 583,705.96
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,685,817.56
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 3,269,523.52
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CLASS A-11 REMITTANCE AMOUNT:
<S> <C>
(A) CURRENT INTEREST REQUIREMENT 330,664.51
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,600,000.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-11 REMITTANCE AMOUNT 1,930,664.51
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 914,370.47
(B) PRINCIPAL DISTRIBUTION AMOUNT 4,285,817.56
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 5,200,188.03
CLASS A-12 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 67,800.16
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,807,693.89
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-12 REMITTANCE AMOUNT 1,875,494.05
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 556,138.03
(B) PRINCIPAL DISTRIBUTION AMOUNT 1,807,693.89
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 2,363,831.92
CLASS A-16 (POOL IV) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 131,909.25
(B) PRINCIPAL DISTRIBUTION AMOUNT 47,442.08
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL IV REMITTANCE AMOUNT 179,351.33
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<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 137,546,483.00
(B) CLASS A-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 52,917,624.37
(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 116,177,002.94
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 69,775,000.00
(L) CLASS A-12 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 10,632,702.02
</TABLE>
<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 19,714,243.33
(Q) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 867,272,107.37
(R) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 185,952,002.94
(S) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 91,674,702.02
(T) TOTAL POOL IV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 19,714,243.33
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II, III AND IV) 100.00%
(B) EXCESS SPREAD (POOL I) 2,283,113.10
EXCESS SPREAD (POOL II) 459,561.13
EXCESS SPREAD (POOL III) 367,474.41
EXCESS SPREAD (POOL IV) 47,629.11
TOTAL EXCESS SPREAD (POOL I, II, III and IV) 3,157,777.74
(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 13,178.26
POOL II 22,155.52
POOL III 0.00
POOL IV 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 265.294
POOL II 353.005
POOL III 192.832
POOL IV 329.004
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.856%
POOL II 9.476%
POOL III 12.529%
POOL IV 11.344%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 174,642.01
POOL II 36,441.48
POOL III 18,586.71
POOL IV 4,019.98
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 174,642.01
POOL II 36,441.48
POOL III 18,586.71
POOL IV 4,019.98
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 36,788.01
POOL II 7,926.58
POOL III 3,895.10
POOL IV 823.40
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 73,282.00
POOL II 19,024.00
POOL III 23,371.00
POOL IV 9,057.00
(E) FHA PREMIUM ACCOUNT 6,008.19
(F) CLASS A-11 AUCTION AGENT FEE 15,910.68
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) 349,284.02 72,882.96
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) 37,173.42 8,039.96
21. CLASS A-1 POOL FACTOR (I-5): CUSIP #
CURRENT CLASS A-1 PRINCIPAL BALANCE 137,546,483.00 0.81421213 00935B AA7
ORIGINAL CLASS A-1 PRINCIPAL BALANCE 168,932,000.00
CLASS A-2 POOL FACTOR (I-5):
CURRENT CLASS A-2 PRINCIPAL BALANCE 52,917,624.37 0.62802782 00935B 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 00935B 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 00935B 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 00935B 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 00935B 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 00935B 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 00935B 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 867,272,107.37 0.93255065
ORIGINAL POOL I PRINCIPAL BALANCE 930,000,000.00
CLASS A-10 FACTOR:
CURRENT CLASS A-10 PRINCIPAL BALANCE 116,177,002.94 0.92941602 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 69,775,000.00 0.93033333 60935B AL3
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 75,000,000.00
POOL II FACTOR:
CURRENT POOL II PRINCIPAL BALANCE 185,952,002.94 0.92976001
ORIGINAL POOL II PRINCIPAL BALANCE 200,000,000.00
CLASS A-12 POOL FACTOR (I-5):
CURRENT CLASS A-10 PRINCIPAL BALANCE 10,632,702.02 0.56085568 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 91,674,702.02 0.91674702
ORIGINAL POOL III PRINCIPAL BALANCE 100,000,000.00
CLASS A-16 (POOL IV) FACTOR (I-5):
CURRENT CLASS A-14 PRINCIPAL BALANCE 19,714,243.33 0.98571217 60935B AR0
ORIGINAL CLASS A-14 PRINCIPAL BALANCE 20,000,000.00
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.856%
POOL II 9.476%
POOL III 12.529%
POOL IV 11.344%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 10.206%
POOL II 8.559%
POOL III 10.679%
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 6.738%
CLASS A-10 AND CLASS A-11 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.852%
CLASS A-12, CLASS A-13, CLASS A-14 AND CLASS A-15
ADJUSTED MORTGAGE LOAN REMITTANCE RATE 7.501%
CLASS A-16 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.010%
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 08/31/96 09/30/96 10/31/96
---------------------------------------
POOL I 10.693% 10.863% 10.856%
POOL II 9.250% 9.328% 9.476%
POOL III 12.531% 12.531% 12.529%
POOL IV 11.273% 11.344% 11.344%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
23. CLASS A-10 REMITTANCE RATE 5.70281%
CLASS A-11 REMITTANCE RATE (BASED ON AUCTION RATE) 5.380%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-10 N/A
24. LIBOR RATE 5.38281%
25. POOL II NET FUNDS CAP (RATE) 8.905%
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 6,008.19
(B) AMOUNT REIMBURURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PUSUANT TO 6.06(b)(i) 0.00
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 4,995.00
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 7,094,741.40
POOL II 0.00
POOL III 6,103,003.36
POOL IV 1,220,600.67
(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 -OCTOBER 31, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C> <C>
1996-B-I $876,599,387.41 16671 1 TO 29 DAYS 159,634,916.77 2957 18.21%
30 TO 59 DAYS 26,024,614.73 534 2.97%
60 TO 89 DAYS 7,929,974.36 121 0.90%
90 AND OVER 6,163,310.46 108 0.70%
FORECLOSURE 3,872,790.49 68 0.44%
REO PROPERTY 0.00 0 0.00%
TOTALS $203,625,606.81 3,788 23.23%
================= ============= =============
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -OCTOBER 31, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-B-II $187,692,648.82 2286 1 TO 29 DAYS 35,290,249.83 434 18.80%
30 TO 59 DAYS 6,274,815.80 78 3.34%
60 TO 89 DAYS 1,279,586.12 19 0.68%
90 AND OVER 1,576,827.81 25 0.84%
FORECLOSURE 1,238,549.22 15 0.66%
REO PROPERTY 0.00 0 0.00%
TOTALS $45,660,028.78 571 24.33%
================= ============= =============
</TABLE>
<PAGE>
EXHIBIT O (POOL III)
REMIC DELINQUENCIES AS OF -OCTOBER 31, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C>
1996-B-III $93,341,788.37 5988 1 TO 29 DAYS 20,120,209.79 1243 21.56%
30 TO 59 DAYS 3,707,011.59 261 3.97%
60 TO 89 DAYS 876,414.71 63 0.94%
90 AND OVER 1,667,393.76 113 1.79%
CLAIMS PENDING 0.00 0 0.00%
FORECLOSURE 88,715.23 7 0.10%
REO PROPERTY 0.00 0 0.00%
TOTALS $26,459,745.08 1,687 28.35%
================= ======= =======
EXHIBIT O (POOL IV)
REMIC DELINQUENCIES AS OF -OCTOBER 31, 1996
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
1996-B-IV 19,834,705.10 102 1 TO 29 DAYS 1,809,036.89 9 9.12%
30 TO 59 DAYS 305,000.00 1 1.54%
60 TO 89 DAYS 0.00 0 0.00%
90 AND OVER 289,500.00 1 1.46%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $2,403,536.89 11 12.12%
================= ======= =======
</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) 860.50 720.84 1,000.00 1,000.00 1,000.00
(vi) 33.86 67.89 0.00 0.00 0.00
(vii) 3.54 7.11 0.00 0.00 0.00
(viii) 6.33 6.34 0.00 0.00 0.00
(xiii) (a) 4.82 3.97 5.68 5.81 5.98
(b) 46.29 92.81 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) 814.21 628.03 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 1,000.00 950.90
(vi) 0.00 0 0.00 0.00 0.00
(vii) 0.00 0 0.00 0.00 0.88
(viii) 0.00 0 0.00 0.00 0.00
(xiii) (a) 6.15 6.29 6.59 6.78 4.67
(b) 0.00 0 0.00 0.00 21.49
(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 1,000.00 929.42
(xxxvi) 0.00 0 0 0.00 0.00
POOL III POOL IV
SUBCLAUSE CLASS A-11 CLASS A-12 CLASS A-13CLASS A-14 CLASS A-15 CLASS A-16
- ----------------------------------------------------------------------------------------
(ii) 23,791.67 656.21 1,000.00 1,000.00 1,000.00 988.08
(vi) 0.00 54.30 0.00 0.00 0.00 0.00
(vii) 21.99 4.09 0.00 0.00 0.00 0.00
(viii) 0.00 15.38 0.00 0.00 0.00 0.39
(xiii) (a) 110.22 3.58 5.75 6.13 6.58 6.60
(b) 533.33 95.35 0.00 0.00 0.00 2.37
(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) 15,447.00 560.86 1,000.00 1,000.00 1,000.00 985.71
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
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