<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-K
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1996
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
FOR THE TRANSITION PERIOD FROM TO
COMMISSION FILE NUMBER 33-98734
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 EXHIBIT A ATTACHED HERETO.
THE MONEY STORE INC.
- --------------------------------------------------------------------------------
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
NEW JERSEY 68-0391373
- ---------------------------- (I.R.S. EMPLOYER
(STATE OR OTHER JURISDICTION IDENTIFICATION NO.)
OF INCORPORATION OR
ORGANIZATION)
2840 MORRIS AVENUE, UNION, NJ 07083
- --------------------------------------- ---------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES (ZIP CODE)
908-686-2000
------------------------------------------------------
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:
NAME OF EACH EXCHANGE ON
TITLE OF EACH CLASS WHICH REGISTERED
------------------- ------------------------
NONE NONE
SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:
NONE
---------------
(TITLE OF CLASS)
INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS
REQUIRED TO BE FILED BY SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
1934 DURING THE PRECEDING TWELVE MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE
REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH
FILING REQUIREMENTS FOR THE PAST 90 DAYS. YES X NO
--- ---
INDICATE BY CHECK MARK IF DISCLOSURE OF DELINQUENT FILERS PURSUANT TO ITEM 405
OF REGULATION S-K IS NOT CONTAINED HEREIN AND WILL NOT BE CONTAINED TO THE BEST
OF REGISTRANT'S KNOWLEDGE, IN DEFINITIVE PROXY OR INFORMATION STATEMENTS
INCORPORATED BY REFERENCE IN PART III OF THIS FORM 10-K OR ANY AMENDMENT TO THIS
FORM 10-K. NOT APPLICABLE
STATE THE AGGREGATE MARKET VALUE OF THE VOTING STOCK HELD BY NON-AFFILIATES OF
THE REGISTRANT. NOT APPLICABLE
INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE REGISTRANT'S CLASSES OF
COMMON STOCK, AS OF DECEMBER 31, 1996. NOT APPLICABLE
THIS ANNUAL REPORT ON FORM 10-K IS FILED PURSUANT TO A REQUEST FOR NO-ACTION
LETTER FORWARDED TO THE OFFICE OF CHIEF COUNSEL DIVISION OF CORPORATION
FINANCING, DATED JUNE 18, 1993 AND THE RESPONSE OF THE SEC DATED AUGUST 4, 1993
TO THE NO-ACTION REQUEST.
<PAGE>
PART I
Item 1. BUSINESS
--------
Omitted pursuant to the "Request for no-action letter forwarded
to the Office of Chief Counsel Division of Corporation Finance"
dated June 18, 1993 and the response of the SEC dated August 4,
1993 to the no-action request.
Item 2. PROPERTIES
----------
Reference is made to the Annual Compliance Certificate attached
as Exhibit 20 hereto.
Reference is made to the Annual Statement attached as Exhibit 13
hereto.
Item 3. LEGAL PROCEEDINGS
-----------------
NONE
Item 4. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS
-------------------------------------------------
None
PART II
Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
---------------------------------------------------------------------
There is no established trading market for Registrant's
securities subject to this filing.
Number of holders of record of the Certificates as of January 31,
1997: 256_
Item 6. SELECTED FINANCIAL DATA
-----------------------
Omitted pursuant to the "Request for no-action letter forwarded
to the Office of Chief Counsel Division of Corporation Finance"
dated June 18, 1993 and the response of the SEC dated August 4,
1993 to the no-action request.
Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
-----------------------------------------------------------------------
OF OPERATIONS
-------------
Omitted pursuant to the "Request for no-action letter forwarded
to the Office of Chief Counsel Division of Corporation Finance"
dated June 18, 1993 and the response of the SEC dated August 4,
1993 to the no-action request.
Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
-------------------------------------------
Reference is made to the Annual Compliance Certificate attached
as Exhibit 20 hereto.
Reference is made to the annual Independent Accountant's Report
on the Servicer's compliance with loan servicing standards as
prepared by KPMG Peat Marwick, the Servicer's and Registrant's
Independent Certified Public Accountants, accompanied by the
Registrant's Management Assertion, and attached as Exhibit 99
hereto.
Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
---------------------------------------------------------------
FINANCIAL DISCLOSURE
--------------------
None.
<PAGE>
PART III
Item 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
--------------------------------------------------
Omitted pursuant to the "Request for no-action letter forwarded
to the Office of Chief Counsel Division of Corporation Finance"
dated June 18, 1993 and the response of the SEC dated August 4,
1993 to the no-action request.
Item 11. EXECUTIVE COMPENSATION
----------------------
Omitted pursuant to the "Request for no-action letter forwarded
to the Office of Chief Counsel Division of Corporation Finance"
dated June 18, 1993 and the response of the SEC dated August 4,
1993 to the no-action request.
Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
--------------------------------------------------------------
The following information is furnished as of January 31, 1997 as
to each Certificateholder of record of more than 5% of the
Certificates:
<TABLE>
<CAPTION>
Amount of
Notes of
Name and Address Beneficial % of
Title of Class of Beneficial Owner Owner Class
<S> <C> <C> <C>
TMS Home Equity Loan Asset-Backed Bankers Trust
Certificates, Series 1996-B, Class A-1 c/o BT Services Tennessee, Inc. 12,235,000 7
Custody Services
648 Grassmere Park Road
Nashville, TN 37211
Boston Safe Deposit & Trust 16,325,000 10
Co. c/o Mellon Bank, N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
Fleet Bank of Massachusetts, 22,440,000 13
N.A.
c/o ADP Proxy Services
51 Mercedes Way
Edgewood, New York 11717
Northern Trust Company 11,900,000 7
801 S. Canal C-In
Chicago, IL 60607
PNC Bank, N.A./Pittsburgh 25,000,000 15
One PNC Plaza, 9th Floor
249 5th Avenue
Pittsburgh, PA 15222-7707
SSB-Custodian 45,645,000 27
Global Proxy Unit, A5NW
P.O. Box 1631
Boston, MA 02105-1631
TMS Home Equity Loan Asset-Backed Bankers Trust 6,950,000 8
Certificates, Series 1996-B, Class A-2 c/o BT Services Tennessee, Inc.
Custody Services
648 Grassmere Park Road
Nashville, TN 37211
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
Chase Manhattan Bank 29,860,000 35
Two Chase Manhattan Plaza,
5th Fl.
New York, NY 10081
The First National Bank of 10,200,000 12
Maryland
Trust Division-Operations
Dept. 101-623
25 S. Charles Street
Baltimore, MD 21201
Union Bank 10,200,000 12
530 B. Street, Suite 222
San Diego, CA 92112
Prudential Securities 5,000,000 6
Incorporated
111 8th Avenue, 4th Floor
New York, NY 10011
TMS Home Equity Loan Asset-Backed The Bank of New York 10,750,000 13
Certificates, Series 1996-B, Class A-3 925 Patterson Plank Road
Secaucus, NJ 07094
Bankers Trust 17,198,000 20
c/o BT Services Tennessee,
Inc.
Custody Services
648 Grassmere Park Road
Nashville, TN 37211
Boston Safe Deposit & Trust 14,500,000 17
Co. c/o Mellon Bank, N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
Chase Manhattan Bank 13,000,000 15
Two Chase Manhattan Plaza,
5th Fl.
New York, NY 10081
Chase Manhattan Bank/Chemical 15,100,000 18
Auto Settle Department
4 New York Plaza, 4th Floor
New York, NY 10081
Northern Trust Company 6,525,000 8
801 S. Canal C-In
Chicago, IL 60607
SSB-Custodian 4,250,000 5
Global Proxy Unit, A5NW
P.O. Box 1631
Boston, MA 02105-1631
TMS Home Equity Loan Asset Backed PNC Bank, N.A./Pittsburgh 90,870,000 95
Certificates Series 1996-B, One PNC Plaza, 9th Floor
Class A-4 249 5th Avenue
Pittsburgh, PA 15222-7707
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
TMS Home Equity Loan Asset-Backed Bankers Trust Company 23,425,000 15
Certificates Custody Services
Series 1996-B, Class A-5 c/o BT Services Tennessee Inc.
648 Grassmere Park Road
Nashville, TN 37211
Boston Safe Deposit & Trust Co. 25,675,000 16
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
Investors Bank & Trust/M.F. 19,538,000 12
Custody
89 South Street, 6th Fl.
Corp. Action Dept.
Boston, MA 02111
Northern Trust Company 28,040,000 18
801 S. Canal C-In
Chicago, IL 60607
SSB-Custodian 26,760,000 17
Global Proxy Unit, A5NW
P.O. Box 1631
Boston, MA 02105-1631
TMS Home Equity Loan Asset-Backed Boston Safe Deposit & Trust Co. 3,000,000 5
Certificates c/o Mellon Bank N.A.
Series 1996-B, Class A-6 Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
Chase Manhattan Bank 15,267,000 34
Two Chase Manhattan Plaza,
5th Fl.
New York, NY 10081
Chase Manhattan Bank/Chemical 16,100,000 24
Auto Settle Department
4 New York Plaza, 4th Floor
New York, NY 10081
NBD Bank 17,000,000 26
611 Woodward Avenue
Detroit, Michigan 48226
PNC Bank, N.A./Pittsburgh 5,800,000 9
One PNC Plaza, 9th Floor
249 5th Avenue
Pittsburgh, PA 15222-7707
SSB-Custodian 4,920,000 7
Global Proxy Unit, A5NW
P.O. Box 1631
Boston, MA 02105-1631
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
TMS Home Equity Loan Asset-Backed Bankers Trust 10,052,000 10
Certificates c/o BT Services Tennessee Inc.
Series 1996-B, Class A-7 Custody Services
648 Grassmere Park Road
Nashville, TN 37211
Boston Safe Deposit & Trust Co. 6,300,000 6
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
Chase Manhattan Bank 6,375,000 6
Two Chase Manhattan Plaza,
5th Fl.
New York, NY 10081
Corestates Bank, N.A. 14,670,000 15
P.O. Box 7618 F.C. #1-9-1-21
Philadelphia, PA 19106-7618
The First National Bank of 5,425,000 5
Boston
c/o ADP Proxy Services
51 Mercedes Way
Edgewood, NY 11717
M & I Marshall & Iisley Bank 20,000,000 20
Marshall & Iisley Trust Co.
1000 North Water Street
P.O. Box 2977
Milwaukee, WI 53202
SSB-Custodian 16,285,000 16
Global Proxy Unit, A5NW
P.O. Box 1631
Boston, MA 02105-1631
TMS Home Equity Loan Asset-Backed The Bank of New York 5,125,000 5
Certificates 925 Patterson Plank Road
Series 1996-B, Class A-8 Secaucus, New Jersey 07094
Bear Stearns Securities 5,000,000 5
Corp./Portal
One Metrotech Center North
4th Floor
Brooklyn, NY 11201-3862
Boston Safe Deposit & Trust 20,471,000 19
Co.
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
Chase Manhattan Bank 49,342,000 46
Two Chase Manhattan Plaza,
5th Fl.
New York, NY 10081
TMS Home Equity Loan Asset-Backed Chase Manhattan Bank 9,139,000 13
Certificates Two Chase Manhattan Plaza,
Series 1996-B, Class A-9 5th Fl.
New York, NY 10081
Chase Manhattan Bank/Chemical 42,000,000 62
Auto Settle Department
4 New York Plaza, 4th Floor
New York, NY 10081
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
Citicorp Services Inc. 3,700,000 5
P.O. Box 30576
Tampa, FL 33630-3575
Compass Bank-ALFA 5,000,000 7
701 South 32nd Street
Birmingham, AL 35233
The Fifth Third Bank 5,000,000 7
Dept. 00850 - Proxy
38 Fountain Square Plaza
Cincinatti, OH 45263
TMS Home Equity Loan Asset-Backed Bankers Trust 8,000,000 6
Certificates c/o BT Services Tennessee Inc.
Series 1996-B, Class A-10 Custody Services
648 Grassmere Park Road
Nashville, TN 37211
Chase Manhattan Bank 43,000,000 34
Two Chase Manhattan Plaza,
5th Fl.
New York, NY 10081
Marine Treasury Investments 11,500,000 9
140 Broadway - Level A
New York, NY 10015
Republic National Bank of New 12,400,000 10
York
Investment Account
One Hanson Place, Lower Level
Brooklyn, NY 11243
The Bank of California 18,000,000 14
Safekeeping Department
475 Sansome Street, 11th Floor
San Francisco, CA 94145
TMS Home Equity Loan Asset-Backed TMS Home Equity Loan 5,000,000 8
Certificates Asset-Backed Certificates
Series 1996-B, Class A-11 Series 1996-B, Class A-12
Bank One Trust Company N.A. 5,000,000 8
235 W. Schrock Road
Westerville, OH 43081-0393
Lehman Brothers, Inc. 25,000,000 2
c/o BSSC Attn: proxy Dept.
P.O. Box 29198
Brooklyn, NY 11202-9198
LBI-Lehman Government 42,300,000 64
Securities Inc.
200 Vesey Street
New York, NY 10285
Wilmington Trust Co. 6,000,000 9
Rodney Square North
1100 North Market Street
Wilmington, DE 19890-0001
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
TMS Home Equity Loan Asset-Backed Bankers Trust 6,958,000 37
Certificates c/o BT Services Tennessee Inc.
Series 1996-B, Class A-12 Custody Services
648 Grassmere Park Road
Nashville, TN 37211
Citicorp Services Inc. 2,750,000 15
P.O. Box 30576
Tampa, FL 33630-3576
Harris Trust & Savings Bank 7,250,000 38
Proxy Operations
111 West Monroe Street, 1130
Chicago, IL 60690
Norwest Bank Minnesota 2,000,000 11
National Association
733 Marquette Avenue
Minneapolis, MN 55479-0056
TMS Home Equity Loan Asset-Backed The Bank of New York 20,764,000 45
Certificates 925 Patterson Plank Road
Series 1996-B, Class A-13 Secaucus, New Jersey 07094
Bankers Trust Company 2,574,000 6
c/o BT Services Tennessee Inc.
Custody Services
648 Grassmere Park Road
Nashville, TN 37211
Boston Safe Deposit & Trust 3,000,000 6
Co.
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
LBI-Lehman Government 12,521,000 27
Securities Inc.
200 Vesey Street
New York, NY 10285
SSB-Custodian 5,000,000 11
Global Proxy Unit, A5NW
P.O. Box 1631
Boston, MA 02105-1631
TMS Home Equity Loan Asset-Backed The Bank of New York 676,000 5
Certificates 925 Patterson Plank Road
Series 1996-B, Class A-14 Secaucus, New Jersey 07094
Bankers Trust Company 4,840,000 34
c/o BT Services Tennessee Inc.
Custody Services
648 Grassmere Park Road
Nashville, TN 37211
Chase Manhattan Bank 1,431,000 10
Two Chase Manhattan Plaza,
5th Fl.
New York, NY 10081
Investors Bank & Trust/M.F. 5,000,000 35
Custody
89 South Street 6th Fl.
Corp. Action Dept.
Boston, MA 02111
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
TMS Home Equity Loan Asset-Backed Bankers Trust Company 9,415,000 46
Certificates c/o BT Services Tennessee Inc.
Series 1996-B, Class A-15 Custody Services
648 Grassmere Park Road
Nashville, TN 37211
LBI-Lehman Government 3,714,000 18
Securities Inc.
200 Vesey Street
New York, NY 10285
SSB-Custodian 7,235,000 36
Global Proxy Unit, A5NW
P.O. Box 1631
Boston, MA 02105-1631
TMS Home Equity Loan Asset-Backed Bankers Trust Company 3,450,000 17
Certificates c/o BT Services Tennessee Inc.
Series 1996-B, Class A-16 Custody Services
648 Grassmere Park Road
Nashville, TN 37211
Chase Manhattan Bank 5,000,000 25
Two Chase Manhattan Plaza,
5th Fl.
New York, NY 10081
Northern Trust Company 3,000,000 15
801 S. Canal C-In
Chicago, IL 60607
SSB-Custodian 4,475,000 22
Global Proxy Unit, A5NW
P.O. Box 1631
Boston, MA 02105-1631
First Bank, N.A. 2,200,000 11
c/o ICE Proxy Services
71 Executive Blvd.
Farmingdale, NY 11735
</TABLE>
Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
----------------------------------------------
(a) None
(b)-(d)Omitted pursuant to the "Request for no-action letter
forwarded to the Office of Chief Counsel Division
of Corporation Finance" dated June 18, 1993 and
the response of the SEC dated August 4, 1993 to
the no-action request.
<PAGE>
PART IV
Item 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
----------------------------------------------------------------
1. The consolidated financial statements of MBIA Insurance
Corporation (the surety provider for TMS Home Equity Loan
Asset Backed Certificates, Series 1996-B) and subsidiaries
contained in the annual report on form 10-K for the year
ended December 31, 1996 which has been filed with the SEC
by MBIA Inc. on March 27, 1997 is hereby incorporated
herein by reference.
2. Not Applicable
3. Exhibits
--------
13. Annual Statement
20. Annual Compliance Certificate
99. Reference is made to the annual Independent Accountant's
Report on the Servicer's compliance with loan servicing
standards as prepared by KPMG Peat Marwick, the Servicer's
and Registrant's Independent Certified Public Accountants,
accompanied by the Registrant's anagement Assertion, and
attached as Exhibit 99 hereto.
(b)-(d)Omitted pursuant to the "Request for no-action letter
forwarded to the Office of Chief Counsel Division of
Corporation Finance" dated June 18, 1993 and the
response of the SEC dated August 4, 1993 to the no-
action request.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereto duly authorized on the 27th day of March,
1997.
THE MONEY STORE INC., as Representative
BY: /s/ Marc Turtletaub
----------------------------------
MARC TURTLETAUB
PRESIDENT AND
CHIEF EXECUTIVE OFFICER
BY: /s/ Morton Dear
----------------------------------
MORTON DEAR
EXECUTIVE VICE PRESIDENT
CHIEF FINANCIAL OFFICER
(PRINCIPAL FINANCIAL OFFICER)
BY: /s/ James K. Ransom
----------------------------------
JAMES K. RANSOM
VICE PRESIDENT
(PRINCIPAL ACCOUNTING OFFICER)
Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the Registrant and
in the capacities indicated on the day of March 27th, 1997.
BY: /s/ Alan Turtletaub
----------------------------------
ALAN TURTLETAUB
EXECUTIVE VICE PRESIDENT
CHAIRMAN OF THE BOARD OF DIRECTORS
BY: /s/ Marc Turtletaub
----------------------------------
MARC TURTLETAUB
PRESIDENT AND
CHIEF EXECUTIVE OFFICER
DIRECTOR
BY: /s/ Morton Dear
----------------------------------
MORTON DEAR
EXECUTIVE VICE PRESIDENT
CHIEF FINANCIAL OFFICER
(PRINCIPAL FINANCIAL OFFICER)
DIRECTOR
BY: /s/ Harry Puglisi
----------------------------------
HARRY PUGLISI
TREASURER
DIRECTOR
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>
EXHIBIT 13
SERVICER'S CERTIFICATE
In Accordance with Section 6.10 of the Pooling and Servicing Agreement dated
February 29, 1996, The Money Store, Inc. reports the following information
pertaining to the Series 1996-B, for the calendar year 1996
Per Section 6.10
(XI) Amount of Interest Received:
Pool I 47,427,048.49
Pool II 8,426,090.49
Pool III 6,200,396.81
Pool IV 1,175,309.83
(XI) Principal and Other Servicer Fees Collected
(A) Principal
POOL I 75,769,288.68
POOL II 19,844,833.87
POOL III 8,989,822.09
POOL IV 167,772.19
(B) Other Servicer Fees
POOL I 334,011.52
POOL II 119,622.00
POOL III 19,313.56
POOL IV 140.00
( I),(II) Class "A-1" Remittance Amount:
(A) Current Interest Requirement 5,927,861.47
(B) Principal Distribution Amount 47,087,666.56
(C) Carry Forward Amount 0.00
(D) Monthly Advance 0.00
TOTAL CLASS "A-1" REMITTANCE AMOUNT 53,015,528.03
Class "A-2" Remittance Amount:
(A) Current Interest Requirement 2,566,731.67
(B) Principal Distribution Amount 47,044,735.02
(C) Carry Forward Amount 0.00
(D) Monthly Advance 0.00
TOTAL CLASS "A-2" REMITTANCE AMOUNT 49,611,466.69
Class "A-3" Remittance Amount:
(A) Current Interest Requirement 3,368,574.17
(B) Principal Distribution Amount 0.00
(C) Carry Forward Amount 0.00
(D) Monthly Advance 0.00
TOTAL CLASS "A-3" REMITTANCE AMOUNT 3,368,574.17
1
<PAGE>
Class "A-4" Remittance Amount:
(A) Current Interest Requirement 3,869,453.57
(B) Principal Distribution Amount 0.00
(C) Carry Forward Amount 0.00
(D) Monthly Advance 0.00
TOTAL CLASS "A-4" REMITTANCE AMOUNT 3,869,453.57
Class "A-5" Remittance Amount:
(A) Current Interest Requirement 6,577,274.90
(B) Principal Distribution Amount 0.00
(C) Carry Forward Amount 0.00
(D) Monthly Advance 0.00
TOTAL CLASS "A-5" REMITTANCE AMOUNT 6,577,274.90
Class "A-6" Remittance Amount:
(A) Current Interest Requirement 2,839,879.35
(B) Principal Distribution Amount 0.00
(C) Carry Forward Amount 0.00
(D) Monthly Advance 0.00
TOTAL CLASS "A-6" REMITTANCE AMOUNT 2,839,879.35
Class "A-7" Remittance Amount:
(A) Current Interest Requirement 4,354,267.46
(B) Principal Distribution Amount 0.00
(C) Carry Forward Amount 0.00
(D) Monthly Advance 0.00
TOTAL CLASS "A-7" REMITTANCE AMOUNT 4,354,267.46
Class "A-8" Remittance Amount:
(A) Current Interest Requirement 4,948,878.33
(B) Principal Distribution Amount 0.00
(C) Carry Forward Amount 0.00
(D) Monthly Advance 0.00
TOTAL CLASS "A-8" REMITTANCE AMOUNT 4,948,878.33
Class "A-9" Remittance Amount:
(A) Current Interest Requirement 3,221,221.85
(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 3,221,221.85
Pool I Remittance Amount:
(A) Current Interest Requirement 37,674,142,78
(B) Principal Distribution Amount 94,132,401.58
(C) Carry Forward Amount 0.00
(D) Monthly Advance for Bankruptcy 0.00
TOTAL Pool I REMITTANCE AMOUNT 131,806,544.36
Class "A-10" Remittance Amount:
(A) Current Interest Requirement 4,136,849.61
(B) Principal Distribution Amount 14,541,029.31
(C) Carry Forward Amount 0.00
(D) Monthly Advance for Bankruptcy 0.00
TOTAL CLASS "A-10" REMITTANCE AMOUNT 18,677,878.93
2
<PAGE>
CLASS "A-11" REMITTANCE AMOUNT:
(A) Current Interest Requirement 2,207,919.84
(B) Principal Distribution Amount 8,675,000.00
(C) Carry Forward Amount 0.00
(D) Monthly Advance for Bankruptcy 0.00
TOTAL CLASS "A-11" REMITTANCE AMOUNT 10,882,919.84
Pool II Remittance Amount:
(A) Current Interest Requirement 6,344,769.45
(B) Principal Distribution Amount 23,216,029.31
(C) Carry Forward Amount 0.00
(D) Monthly Advance for Bankruptcy 0.00
TOTAL Pool II REMITTANCE AMOUNT 29,560,798.76
CLASS "A-12" REMITTANCE AMOUNT:
(A) Current Interest Requirement 534,776.43
(B) Principal Distribution Amount 11,991,651.91
(C) Carry Forward Amount 0.00
(D) Monthly Advance for Bankruptcy 0.00
TOTAL CLASS "A-12" REMITTANCE AMOUNT 12,526,428.34
Class "A-13" Remittance Amount:
(A) Current Interest Requirement 1,865,225.25
(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 1,865,225.25
Class "A-14" Remittance Amount:
(A) Current Interest Requirement 614,698.89
(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 614,698.89
Class "A-15" Remittance Amount:
(A) Current Interest Requirement 938,441.00
(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 938,441.00
Pool III Remittance Amount:
(A) Current Interest Requirement 3,953,141.57
(B) Principal Distribution Amount 11,991,651.91
(C) Carry Forward Amount 0.00
(D) Monthly Advance for Bankruptcy 0.00
TOTAL Pool III REMITTANCE AMOUNT 15,944,793.48
Class "A-16" (Pool IV) Remittance Amount:
(A) Current Interest Requirement 926,694.70
(B) Principal Distribution Amount 510,485.69
(C) Carry Forward Amount 0.00
3
<PAGE>
(D) Monthly Advance for Bankruptcy 0.00
TOTAL POOL IV REMITTANCE AMOUNT 1,437,180.39
(VI) (A) Servicing Fee for the Related Due Period
POOL I 1,099,478.15
POOL II 223,744.57
POOL III 123,972.74
POOL IV 25,966.28
(B) Contingency Fee for the Related Due Period
POOL I 1,099,478.15
POOL II 223,744.57
POOL III 123,972.74
POOL IV 25,966.28
(C) Amount to be Deposited to the Expense Account - Trustee
POOL I 260,923.98
POOL II 56,173.35
POOL III 27,725.76
POOL IV 5,784.60
(D) Amount to be Deposited to the Insurance Account - MBIA
POOL I 442,571.00
POOL II 114,816.00
POOL III 141,535.00
POOL IV 54,464.00
(E) FHA Premium Account 44,118.00
(F) Class "A-11" Auction Agent Fee 113,247.43
(XXXV) Other Information as requested
(A) Spread Account Balances
POOL I 49,429,269.12
POOL II 0.00
POOL III 42,519,801.40
POOL IV 8,503,960.28
(B) Amount to be Deposited into Pool III
Spread Account due to Trigger Activation 0.00
(III) Amount of Distribution Paid From the Spread Account
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
(IV) Pool Balance as of the Close of Business on 12/31/96
POOL I 849,429,269.97
POOL II 179,474,777.48
POOL III 90,234,043.55
POOL IV 19,698,536.15
(V) Certificate Balance and Certificate Factor
(A) Certificate Balance
POOL I 835,867,598.42
POOL II 176,783,970.69
POOL III 88,008,348.09
POOL IV 19,489,514.31
(B) Certificate Factor
POOL I 0.89878236
POOL II 0.88391985
4
<PAGE>
POOL III 0.88008348
POOL IV 0.97447572
(VII)(A) Amount of Principal Carryover Shortfall
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
(C) Change in Principal Carryover Shortfall
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
(B) Amount of Interest Carryover Shortfall
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
(C) Change in Interest Carryover Shortfall
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
(XIV)Reimbursements to the Certificate Insurer
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
By: /s/ James K. Ransom
-------------------
James Ransom
Vice President
5
<PAGE>
Exhibit 20
OFFICER'S CERTIFICATE
Harry Puglisi, Treasurer of The Money Store Inc. (the "Servicer"), in
accordance with Section 7.04 of The Pooling and Servicing Agreement (the
"Agreement") dated as of May 31, 1996 wherein The Money Store is the "Servicer"
states the following:
(I) the Servicer has fully complied with the provisions of
Articles V and VII;
(ii) the Claims Administrator has fully complied with Section
5.15;
(iii) a review of the activities of the Servicer during 1996 and
of its performance under the Agreement has been made under
my supervision; and
(iv) to the best of my knowledge, based on my review, the
Servicer has fulfilled all its obligations under the
Agreement throughout 1996 and there has been no default in
the fulfillment of any such obligation.
THE MONEY STORE INC.
by: /s/ Harry Puglisi
---------------------------
Harry Puglisi
Treasurer
<PAGE>
Exhibit 99
Page 1 of 2
KMPG Peat Marwick LLP
Independent Accountants' Report
The Board of Directors
The Money Store Inc.:
We have examined Management's Assertion about The Money Store Inc. and
subsidiaries (the Company) compliance with the minimum reviewing standards
relating to mortgage loans, Small Business Administration loans and auto loans,
identified in the Mortgage Bankers Association of America's Uniform Single
Attestation Program for Mortgage Bankers (USAP), except for minimum servicing
standard V.4 which is inapplicable to the servicing of auto loans, as of and for
the year ended December 31, 1996 included in the accompanying Management
Assertion. Management is responsible for the Company's compliance with those
minimum servicing standards. Our responsibility is to express an opinion on
Management's Assertion about the Company's compliance based our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
minimum servicing standards and performing such other procedures as we
considered necessary in the circumstances. We believe that our examination
provides a reasonable basis for our opinion. Our examination does not provide
legal determination o n the Company's compliance with the minimum servicing
standards.
In our opinion, Management's Assertion that the Company complied with the
aforementioned minimum servicing standards as of and for the year ended December
31, 1996 is fairly stated, in all material respects.
/s/ KPMG Pete Marwick, L.L.P.
February 12, 1997
<PAGE>
Exhibit 99
Page 2 of 2
THE MONEY STORE
February 12, 1997
MANAGEMENT'S ASSERTION
As of and for the year ended December 31, 1996, The Money Store Inc. and
subsidiaries (the Company) has complied in all material respects with the
minimum servicing standards relating to mortgage loans, Small Business
Administration loans and auto loans as set forth in the Mortgage Bankers
Association of America's Uniform Single Attestation Program for Mortgage
-----------------------------------------------
Bankers, except for minimum servicing standard V.4, which in inapplicable for
- -------
auto loans. As of and for this same period, the Company had in effect a fidelity
bond policy, an errors and omissions policy, a mortgage impairment policy and an
excess mortgage impairment policy in the amounts of six million, five million,
one million and two million, respectively.
/s/ James K. Ransom /s/ John C. Hill
- ---------------------------- -------------------------------
James K. Ransom John C. Hill
Vice President and Senior Vice President and
Principal Accounting Officer Director - Home Equity Lending
/s/ Donald Coombe /s/ Bert Nixon
- ---------------------------- -------------------------------
Donald Coombe Bert Nixon
Vice President National Vice President Administrative
Loan Servicing - TMSIC TMS Auto Finance Inc.
3301 "C" Street, Sacramento, CA 95816 (916) 446-5000, FAX (916) 554-8938
