<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 reported) September 27, 1996
UCFC Funding Corporation
(Exact name of registrant as specified in its charter)
Louisiana 333-7939 72-1328674
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) ID Number)
4041 Essen Lane, Baton Rouge, Louisiana 70809
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number,
including area code: (504) 924-6007
N/A
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
Filing of Computational Materials and Consent of Independent
Accountants.*
Pursuant to Rule 424(b) under the Securities Act of 1933, as
amended, UCFC Funding Corporation (the "Depositor") is filing a
prospectus and prospectus supplement with the Securities and
Exchange Commission relating to its Manufactured Housing Contract
Pass-Through Certificates, Series 1996-1.
In connection with the offering of the Manufactured Housing
Contract Pass-Through Certificates, Series 1996-1, Prudential
Securities Incorporated, the underwriter of the Offered
Certificates (the "Underwriter"), has prepared certain materials
(the "Computational Materials") for distribution to its potential
investors. Although the Depositor provided the Underwriter with
certain information regarding the characteristics of the
Manufactured Housing Contracts in the related portfolio, it did
not participate in the preparation of the Computational
Materials. The Computational Materials are attached hereto as
Exhibit 99.1.
- --------
* Capitalized terms used and not otherwise defined herein
shall have the meanings assigned to them in the Prospectus
dated September 20, 1996, and Prospectus Supplement dated
September 26, 1996, of UCFC Funding Corporation, relating
to its Manufactured Housing Contract Pass-Through
Certificates, Series 1996-1.
-2-
<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
8.1 Opinion of Stroock & Stroock & Lavan with respect to federal
income tax matters.
23.1 Consent of Stroock & Stroock & Lavan (contained in Exhibit
8.1)
99.1 Computational Materials.
-3-
<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.
UCFC ACCEPTANCE CORPORATION
By: /s/ H.C. McCall, III
Name: H. C. McCall, III
Title: President
Dated: September 27, 1996
-4-
<PAGE>
EXHIBIT INDEX
Exhibit Page
8.1 Opinion of Stroock & Stroock & Lavan with respect to federal
income tax matters.
23.1 Consent of Stroock & Stroock & Lavan (contained in Exhibit
8.1)
99.1 Computational Materials.
<PAGE>
Stroock & Stroock & Lavan
7 Hanover Square
New York, New York 10004
September 26, 1996
UCFC Funding Corporation
4041 Essen Lane
Baton Rouge, Louisiana 70809
Re: UCFC Funding Corporation
Registration Statement on Form S-3
(File No. 333-07939)
-----------------------------------
Gentlemen:
We have acted as special counsel for UCFC Funding Corporation, a Louisiana
corporation (the "Company"), in connection with the issuance of Manufactured
Housing Contract Pass-Through Certificates, Series 1996-1 (the "Certificates").
A Registration Statement on Form S-3 relating to the Certificate (the
"Registration Statement") has been filed with the Securities and Exchange
Commission (the "Commission") under the Securities Act of 1933, as amended (the
"Securities Act").
We have examined copies of the Registration Statement and the agreements and
other documents filed as exhibits thereto. We also have examined the original or
reproduced or certified copies of all such records of the Company, all such
agreements, certificates of officers and reprsentatives of the Company and
others, and such other documents, papers, statutes and authorities as we deemed
necessary to form the basis of the opinions hereinafter expressed. In such
examinations, we have assumed the genuineness of all signatures, the
authenticity of all documents submitted to us as originals and the conformity to
original documents of copies of documents supplied to us by the Company and
others. As to certain matters of fact relevant to the opinion hereinafter
expressed, we have relied upon statements and certificates of officers of the
Company and others.
<PAGE>
September 11, 1996
Page 2
Based upon the foregoing, we are of the opinion that the information in the
Prospectus under the caption "Federal Income Tax Considerations," to the extent
that it constitutes matters of law or legal conclusions, is correct in all
material respects.
In rendering the foregoing opinions, we express no opinion as to the laws of any
jurisdiction other than the State of New York and the federal laws of the United
States of America.
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement, to the reference to us in the prospectus and the related
prospectus supplement forming a part of the Registration Statement, and to the
filing of this opinion as an exhibit to any application made by or on behalf of
the Company or any dealer in connection with the registration of the
Certificates under the securities or blue sky laws of any state or jurisdiction.
In giving such permission, we do not admit hereby that we come within the
category or persons whose consent is required under Section 7 of the Securities
Act of the rules and regulations of the Commission thereunder.
Very truly yours,
/s/ Stroock & Stroock & Lavan
STROOCK & STROOCK & LAVAN
<PAGE>
Preliminary
Marketing Memorandum for:
$[115,000,000]
UCFC Funding Corporation
(Depositor)
Manufactured Housing Contract Pass-Through Certificates,
Series 1996-1
The information included herein is provided solely by Prudential Securities
Incorporated ("PSI") as underwriter for the transaction, and not by or as agent
for UCFC Funding Corporation or any of its affiliates (collectively, the
"Depositor"). The Depositor has not prepared, reviewed or participated in the
preparation hereof, is not responsible for the accuracy hereof and has not
authorized the dissemination hereof. The analysis in this report is accurate to
the best of PSI's knowledge and is based on information provided by the
Depositor. PSI makes no representations as to the accuracy of such information
provided by the Depositor. All opinions and conclusions in this report reflect
PSI's judgment as of this date and are subject to change. All analyses are
based on certain assumptions noted herein and different assumptions could yield
substantially different results. You are cautioned that there is no universally
accepted method for analyzing financial instruments. You should review the
assumptions; there may be differences between these assumptions and your actual
business practices. Further, PSI does not guarantee any results and there is no
guarantee as to the liquidity of the instruments involved in this analysis. The
decision to adopt any strategy remains your responsibility. PSI (or any of its
affiliates) or their officers, directors, analysts or employees may have
positions in securities, commodities or derivative instruments thereon referred
to herein, and may, as principal or agent, buy or sell such securities,
commodities or derivative instruments. In addition, PSI may make a market in
the securities referred to herein. Neither the information nor the opinions
expressed shall be construed to be, or constitute, an offer to sell or buy or a
solicitation of an offer to sell or buy any securities, commodities or
derivative instruments mentioned herein. Finally, PSI has not addressed the
legal, accounting and tax implications of the analysis with respect to you and
PSI strongly urges you to seek advice from your counsel, accountant and tax
advisor.
<PAGE>
UCFC Funding Corporation
Manufactured Housing Contract Pass-Through Certificates Series 1996-1
Title of Certificates: Manufactured Housing Contract Pass-Through Certificates,
Series 1996-1
Offered Certificates: The Class A-1, Class A-2, Class A-3, Class A-4, Class
A-5 and Class A-6 Certificates (collectively, the
"Senior Certificates"), the Class M and the Class B-1
Certificates.
Depositor: UCFC Funding Corporation, a Louisiana corporation.
Servicer: United Companies Lending Corporation, a Louisiana
corporation, an indirect, wholly-owned subsidiary of
United Companies Financial Corporation.
Trustee: The First National Bank of Chicago
Sole Manager: Prudential Securities Incorporated
<TABLE>
<CAPTION>
Class Class Class Class Class Class Class Class | *Class
A1 A2 A3 A4 A5 A6 M B1 | B2
<S> <C> <C> <C> <C> <C> <C> <C> <C> | <C>
Amount(000): 22,688 23,362 13,108 10,160 10,198 10,759 10,350 8,050 | 6,325
|
**Coupon: 6.400 6.750 7.050 7.350 7.575 8.020 7.900 8.000 | n/a
|
Approx. Price: 99-31 99-31+ 99-31+ 99-31+ 99-28 99-31+ 99-28+ 99-30+ | n/a
|
Yield: 6.26 6.76 7.09 7.42 7.67 8.12 8.00 8.09 | n/a
|
Spread: 45 46 59 73 92 137 125 140 | n/a
|
Avg Life: [1.05] [3.05] [5.00] [7.35] [10.50] [16.28] [10.57] [7.36] | n/a
|
Avg Life: [1.05] [3.05] [5.00] [7.35] [10.50] [14.50] [10.05] [7.36] | n/a
To Call |
|
1st Pmt: [10/15/96] [10/15/98] [12/15/00] [11/15/02] [6/15/05] [5/15/09] [10/15/01] [10/15/01] | n/a
|
Exp Mat: [10/15/98] [12/15/00] [11/15/02] [6/15/05] [5/15/09] [3/15/18] [3/15/18] [1/15/07] | n/a
|
To 10% Call: [10/15/98] [12/15/00] [11/15/02] [6/15/05] [5/15/09] [9/15/11] [9/15/11] [1/15/07] | n/a
|
Final Mat: [7/15/04] [8/15/09] [5/15/13] [3/15/16] [4/15/20] [01/15/28] [01/15/28] [3/15/17] | n/a
|
Settlement: [9/30/96] [9/30/96] [9/30/96] [9/30/96] [9/30/96] [9/30/96] [9/30/96] [9/30/96] | n/a
|
Pymt Delay: 14 Days 14 Days 14 Days 14 Days 14 Days 14 Days 14 Days 14 days | n/a
|
Dated Date: 09/1/96 09/1/96 09/1/96 09/1/96 09/1/96 09/1/96 09/1/96 09/1/96 | n/a
|
Int. Pymt: Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly | n/a
|
1st Pymt Date: 10/15/96 10/15/96 10/15/96 10/15/96 10/15/96 10/15/96 10/15/96 10/15/96 | n/a
|
Rating: Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA Aa3/AA- Baa2/BBB | Ba2/BB
(Moody's/Fitch)
</TABLE>
* NOTE: THE CLASS B-2 CERTIFICATES ARE NOT BEING OFFERED **
** PAYMENT OF INTEREST EACH MONTH ON ALL CLASSES OF CERTIFICATES IS
SUBJECT TO A MAXIMUM RATE EQUAL TO THE WEIGHTED AVERAGE OF THE NET
CONTRACT RATES (DEFINED BELOW) RELATING TO SUCH REMITTANCE DATE.
Pricing Date: 9/24/96
Closing Date: Settlement with Investors will be on or about September
30, 1996.
Cut-Off Date: The opening of business on September 1, 1996.
Prepayment Speed: 175% MHP
Net Contract Rate: The Net Contract Rate of a Contract equals the rate of
interest then borne by such Contract minus [0.508]% per
annum (the "Expense Fee Rate")
Remittance Date: The 15th day of each month or, if such day is not a
business day, the next succeeding business day, beginning
in October, 1996.
Interest Accrual: The "Interest Accrual Period" for each Class of
Certificates will be the calendar month preceding the
month of such Remittance Date. Interest will be
calculated on the basis of a 360-day year consisting of
twelve 30-day months.
Originators: The Contracts were, and any Subsequent Contracts will have
been, originated or purchased by United Companies Funding,
Inc. ("UCFI"), United Companies or UNICOR Mortgage, Inc.
("UNICOR," and collectively with UCFI and United
Companies, the "Originators") Each Originator is a
Louisiana corporation and an affiliate of the Depositor.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
UCFC Funding Corporation
Manufactured Housing Contract Pass-Through Certificates Series 1996-1
Credit Enhancement: SUBORDINATION: Expected subordination levels as a %
of the total Certificates:
Class A1-A6: Aaa/AAA 21.50%
Class M: Aa3/AA- 12.50%
Class B-1: Baa2/BBB 5.50%
RESERVE ACCOUNT: A Reserve Account will be established by
the Trustee to cover losses on the Contracts. The Reserve
Account will be funded with an intitial deposit of no less
than $575,000. On each Remittance Date, the Trustee will
deposit in the Reserve Account any Amount Available
remaining after distributions on the Certificates unless
and until the amount on deposit therein equals the
Specified Reserve Account Requirement. The Specified
Reserve Account Requirement will initially equal 1.5% of
the Aggregate Cut-off Date Pool Principal Balance and will
be allowed to step down after year five if certain
Performance Tests are met (more fully described in the
Prospectus Supplement). The Reserve Account will be
available to cover losses on all Classes of Certificates.
EXCESS SERVICING: The Class R Certificate (not offered)
represents excess servicing on the Contracts and is the
first loss piece. The Class R Certificate is subordinated
to the Regualar Certificates on a monthly basis.
Pre-Funding Account: On the Closing Date, the Trustee will establish and
thereafter maintain with itself a trust account (the
"Pre-Funding Account"). On the Closing date,
approximately $[15,000,000] in cash (the "Pre-Funded
Amount") will be deposited in the Pre-Funding Account any
may be used only to (i) acquire additional manufactured
housing installment sales contracts and manufactured
housing installment loan agreements (collectively, the
"Subsequent Contracts") and (ii) make accelerated payments
of principal on the Senior Certificates. During the
period (the "Pre-Funding Period") from the Closing Date to
the earliest to occur of (i) the Funding Termination Date
(defined below), (ii) an Event of Default under the
Agreement and (iii) December 15, 1996, amounts on deposit
in the Pre-Funding Account may be withdrawn from time to
time to acquire Subsequent Contracts in accordance with
the Agreement. The "Funding Termination Date" will be
the date on which the Pre Funded amount has been reduced
to less than $100,000. Any Pre-Funded amount remaining
in the Pre-Funding Account at the end of the Pre-Funding
Period will be distributed on the Remittance Date at or
immediately following the end of such Pre- Funding Period
to the Classes of Senior Certificates then entitled to
distributions of principal.
Subsequent
Contracts: Following the end of the Pre-Funding Period, the
Depositor expects that the Contracts (including the
Subsequent Contracts) in the Trust will have the following
approximate characteristics:
Average Unpaid Principal Balance: at least $30,000
Weighted Average Contract Rate: 11.075% - 11.500%
Weighted Average Remaining Term
to Stated Maturity: 256 months - 262 months
Weighted Average Original Loan
To Value Ratio: not more than 87.25%
Weighted Average Contract Age: 0 month - 6 months
Contracts Secured by Primary Residences: at least 99%
Contracts Secured by New Manufactured Homes: at least 70%
State Distribution:
Texas not more than 44%
North Carolina not more than 12%
South Carolina not more than 12%
Georgia not more than 12%
Any other individual state not more than 10%
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
UCFC Funding Corporation
Manufactured Housing Contract Pass-Through Certificates Series 1996-1
Priority of
Distrbutions: (PLEASE SEE PAGES S-27 THROUGH S-30 IN RED HERRING FOR
FURTHER DESCRIPTION AND DEFINITION OF TERMS)
On each Remittance Date, the Trustee will distribute out
of the Certificate Account, the following amounts in the
following order of priority, in each case, to the extent
of the remaining Amount Available:
(i) to the Trustee, the Trustee Fee;
(ii) concurrently, to each Class of Senior Certificates,
the related Class Interest Distribution Amount, any
shortfall being allocated on a pro rata basis in
accordance with the respective Class Interest
Disbribution Amount for each such Class;
(iii) sequentially to the Class A-1, Class A-2, Class A-3,
Class A-4, Class A-5 and Class A-6 Certificates, in
that order, an amount up to the Senior Principal
Disbribution Amount, until the respective Class
Certificate Balances are reduced to zero;
(iv) to the Class M Certificates, the Class Interest
Distribution Amount;
(v) to the Class M Certificates, an amount up to the
Class M Principal Distribution Amount, until the
Class M Certificate Balance is reduced to zero;
(vi) to the Class B-1 Certificates, the Class Interest
Distribution Amount;
(vii) to the Class B-1 Certificates, an amount up to the
Class B Percentage of the Formula Principal
Distribution Amount, until the Class B-1 Certificate
Balance is reduced to zero;
(viii) to the Class B-2 Certificates, the Class Interest
Distribution Amount;
(ix) to the Class B-2 Certificates, an amount up to the
Class B-2 Principal Distribution Amount, until the
Class B-2 Certificate Balance is reduced to zero;
(x) to the Reserve Account, until the amount on deposit
therein equals the Specified Reserve Account
Requirement for such Remittance Date; and
(xi) to the Class R Certificates, any remaining Amount
Available.
Distributions of principal of the Class M and Class B-1
Certificates will not commence until at least the
Remittance Date in October 2001 unless the aggregate Class
Certificate Balance of the Senior Certificates is reduced
to zero prior thereto. After such Remittance Date,
distributions of principal of the Class M and/or Class B-1
Certificates will only be made if certain performance
tests are satisfied, unless the aggregate Class
Certificate Balance of the Senior Certificates, and, in
the case of the Class B-1 Certificates, the Class
Certificate Balance of the Class M Certificates is reduced
to zero.
___________________________________________________________________
| | | | | | |
| A1 | A2 | A3 | A4 | A5 | A6 |
|__________|__________|__________|__________|__________|__________|
| | |
| | M |
| 5 year lockout |_____________________________________|
| | | |
| | B-1 | B-2 |
|___________________________|________________|____________________|
Performance Test: The Average 60-Day Delinquency Ratio is less than or equal
to 5%; the Average 30-Day Delinquency Ratio is less than or
equal to 7%; the Current Realized Loss Ratio is less than
or equal to 2.75%; and the Cumulative Realized Losses are
less than or equal to the applicable percentage of the
Aggregate Cut-off Date Pool Principal Balance set forth
below:
Remittance Date During Percentage
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~
October 1, 2001 - September 30, 2002 7%
October 1, 2002 - September 30, 2003 8%
October 1, 2003 and thereafter 9%
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
UCFC Funding Corporation
Manufactured Housing Contract Pass-Through Certificates Series 1996-1
Optional
Termination: The Servicer has the option to purchase from the Trust all
remaining Contracts and all other property in the Trust on
any Remittance Date when the Pool Principal Balance is less
than 10% of the Aggregate Cut-off Date Pool Principal
Balance.
Auction Sale: If the Servicer does not exercise its optional termination
right within ninety days after the Servicer Optional
Termination Date, the Trustee will solicit bids for the
purchase of all Contracts remaining in the Trust. In the
event that satisfactory bids are received as described in
the Pooling and Servicing Agreement, the net sale proceeds
will be distributed to Certificateholders in the same order
of priority as collections received in respect of the
Contracts. If satisfactory bids are not received, the
Trustee will not sell the Contracts and will not solicit
any further bids or otherwise negotiate any further sale of
the Contracts.
The Manufactured
Housing Program: The Contracts were originated or purchased by the
Originators in accordance with the policies and procedures
described under the "The Manufactured Housing Program" in
the Prospectus. As described therein, United Companies has
originated or purchased Land-and-Home Contracts for
several years. However, the volume and performance of
those Contracts have not been tracked separately from the
home equity loans originated by United Companies and
affiliates. In May 1995, United Companies Financial
Corporation, the ultimate parent of the Depositor and
United Companies, established United Companies Funding,
Inc., a Louisiana corporation headquartered in Minneapolis,
Minnesota ("UCFI"), to originate and purchase manufactured
housing contracts which are secured by the related
Manufactured Home ("Chattel Contracts").
Because UCFI has less than 12 months of operating history,
the Depositor believes that historical information
regarding the Contracts originated by UCFI does not have
any predictive value in assessing the possible performance
of the Contract Pool.
ERISA
Considerations: Prior to the termination of the Pre-Funding Period, the
Offered Certificates may not be purchased by a pension or
other employee benefit plan subject to the Employee
Retirement Income Security Act of 1974, as amended
("ERISA").
Upon termination of the Pre-Funding Period, the Senior
Certificates will be ERISA eligible. The Class M, B-1 and
B-2 Certificates will not be ERISA eligible. However,
investors should consult with their counsel with respect to
the consequences under ERISA and the Code of the Plan's
acquisition and ownership of such Certificates.
SMMEA
Considerations: Upon termination of the Pre-Funding Period, the Senior
Certificates and the Class M Certificates will constitute
"mortgage related securities" for purposes of the Secondary
Mortgage Market Enhancement Act of 1984 ("SMMEA") so long
as they are rated in one of the two highest rating
categories by at least one nationally recognized
statistical rating organization and, as such , will be
"legal investments" for certain types of institutional
investors to the extent provided in SMMEA.
The Class B Certificates will not constitute "mortgage
related securities" for purposes of SMMEA.
Prospectus: The Certificates are being offered pursuant to a Prospectus
which includes a Prospectus Supplement (together, the
"Prospectus") Complete information with respect to the
Certificates and the Collateral is contained in the
Prospectus. The foregoing is qualified in its entirety by
the information appearing in the Prospectus. To the extent
that the foregoing is inconsistent with the Prospectus, the
Prospectus shall govern in all respects. Sales of the
Certificates may not be consumated unless the purchaser has
received the Prospectus.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
<TABLE>
<S> <C> <C>
CURRENT BALANCE: $22,688,000.00 DATED DATE: 09/01/96
COUPON: 6.400% ucfcmh61 FIRST PAYMENT: 10/15/96
FACTOR: 1.0000000000 TOTAL CLASSES: 9
ORIGINAL BALANCE: $22,688,000.00 BOND A1 PRICE-YIELD TABLE YIELD TABLE DATE: 09/30/96
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT SPEED
PRICING SPEED
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-23 6.519 6.509 6.512 6.515 6.522 6.525 6.529
99-23+ 6.503 6.498 6.499 6.501 6.504 6.506 6.508
99-24 6.487 6.486 6.487 6.487 6.487 6.487 6.487
99-24+ 6.471 6.475 6.474 6.472 6.469 6.468 6.466
99-25 6.455 6.464 6.461 6.458 6.452 6.448 6.445
99-25+ 6.439 6.453 6.448 6.444 6.434 6.429 6.424
99-26 6.423 6.442 6.436 6.429 6.416 6.410 6.404
99-26+ 6.407 6.431 6.423 6.415 6.399 6.391 6.383
99-27 6.391 6.420 6.410 6.400 6.381 6.372 6.362
99-27+ 6.375 6.409 6.398 6.386 6.364 6.352 6.341
99-28 6.359 6.398 6.385 6.372 6.346 6.333 6.320
99-28+ 6.343 6.387 6.372 6.357 6.329 6.314 6.300
99-29 6.327 6.376 6.360 6.343 6.311 6.295 6.279
99-29+ 6.311 6.365 6.347 6.329 6.293 6.276 6.258
99-30 6.295 6.354 6.334 6.314 6.276 6.257 6.237
99-30+ 6.279 6.343 6.321 6.300 6.258 6.237 6.217
99-31 6.263 6.332 6.309 6.286 6.241 6.218 6.196
99-31+ 6.247 6.321 6.296 6.272 6.223 6.199 6.175
100-00 6.231 6.310 6.283 6.257 6.206 6.180 6.154
100-00+ 6.215 6.299 6.271 6.243 6.188 6.161 6.134
100-01 6.200 6.288 6.258 6.229 6.171 6.142 6.113
100-01+ 6.184 6.277 6.245 6.214 6.153 6.123 6.092
100-02 6.168 6.266 6.233 6.200 6.136 6.103 6.072
100-02+ 6.152 6.255 6.220 6.186 6.118 6.084 6.051
100-03 6.136 6.244 6.208 6.171 6.101 6.065 6.030
100-03+ 6.120 6.233 6.195 6.157 6.083 6.046 6.009
100-04 6.104 6.222 6.182 6.143 6.066 6.027 5.989
100-04+ 6.088 6.211 6.170 6.129 6.048 6.008 5.968
100-05 6.072 6.200 6.157 6.114 6.031 5.989 5.947
100-05+ 6.057 6.189 6.144 6.100 6.013 5.970 5.927
100-06 6.041 6.178 6.132 6.086 5.996 5.951 5.906
100-06+ 6.025 6.167 6.119 6.072 5.978 5.932 5.885
First Payment 0.042 0.042 0.042 0.042 0.042 0.042 0.042
Average Life 1.050 1.551 1.335 1.175 0.950 0.867 0.798
Last Payment 2.042 2.958 2.542 2.208 1.792 1.625 1.542
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
<TABLE>
<S> <C> <C>
CURRENT BALANCE: $23,362,000.00 DATED DATE: 09/01/96
COUPON: 6.750% ucfcmh61 FIRST PAYMENT: 10/15/96
FACTOR: 1.0000000000 TOTAL CLASSES: 9
ORIGINAL BALANCE: $23,362,000.00 BOND A2 PRICE-YIELD TABLE YIELD TABLE DATE: 09/30/96
</TABLE>
PREPAYMENT SPEED
<TABLE>
<CAPTION>
PRICING SPEED
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 6.841 6.842 6.842 6.841 6.840 6.840 6.839
99-24+ 6.835 6.838 6.837 6.836 6.834 6.833 6.832
99-25 6.829 6.834 6.832 6.831 6.827 6.826 6.824
99-25+ 6.823 6.830 6.828 6.825 6.821 6.819 6.817
99-26 6.817 6.826 6.823 6.820 6.815 6.812 6.809
99-26+ 6.811 6.822 6.818 6.815 6.808 6.805 6.802
99-27 6.806 6.817 6.813 6.810 6.802 6.798 6.794
99-27+ 6.800 6.813 6.809 6.804 6.795 6.791 6.786
99-28 6.794 6.809 6.804 6.799 6.789 6.784 6.779
99-28+ 6.788 6.805 6.799 6.794 6.782 6.777 6.771
99-29 6.782 6.801 6.795 6.788 6.776 6.770 6.764
99-29+ 6.776 6.797 6.790 6.783 6.770 6.763 6.756
99-30 6.770 6.793 6.785 6.778 6.763 6.756 6.749
99-30+ 6.765 6.788 6.781 6.773 6.757 6.749 6.741
99-31 6.759 6.784 6.776 6.767 6.750 6.742 6.733
99-31+ 6.753 6.780 6.771 6.762 6.744 6.735 6.726
100-00 6.747 6.776 6.766 6.757 6.737 6.728 6.718
100-00+ 6.741 6.772 6.762 6.752 6.731 6.721 6.711
100-01 6.735 6.768 6.757 6.746 6.725 6.714 6.703
100-01+ 6.730 6.764 6.752 6.741 6.718 6.707 6.696
100-02 6.724 6.760 6.748 6.736 6.712 6.700 6.688
100-02+ 6.718 6.755 6.743 6.730 6.705 6.693 6.681
100-03 6.712 6.751 6.738 6.725 6.699 6.686 6.673
100-03+ 6.706 6.747 6.734 6.720 6.693 6.679 6.666
100-04 6.700 6.743 6.729 6.715 6.686 6.672 6.658
100-04+ 6.695 6.739 6.724 6.709 6.680 6.665 6.650
100-05 6.689 6.735 6.720 6.704 6.673 6.658 6.643
100-05+ 6.683 6.731 6.715 6.699 6.667 6.651 6.635
100-06 6.677 6.727 6.710 6.694 6.660 6.644 6.628
100-06+ 6.671 6.722 6.705 6.688 6.654 6.637 6.620
100-07 6.665 6.718 6.701 6.683 6.648 6.630 6.613
100-07+ 6.660 6.714 6.696 6.678 6.641 6.623 6.605
First Payment 2.042 2.958 2.542 2.208 1.792 1.625 1.542
Average Life 3.050 4.539 3.907 3.426 2.750 2.505 2.302
Last Payment 4.208 6.208 5.375 4.708 3.792 3.458 3.125
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
<TABLE>
<S> <C> <C>
CURRENT BALANCE: $13,108,000.00 DATED DATE: 09/01/96
COUPON: 7.050% ucfcmh61 FIRST PAYMENT: 10/15/96
FACTOR: 1.0000000000 TOTAL CLASSES: 9
ORIGINAL BALANCE: $13,108,000.00 BOND A3 PRICE-YIELD TABLE YIELD TABLE DATE: 09/30/96
</TABLE>
PREPAYMENT SPEED
<TABLE>
<CAPTION>
PRICING SPEED
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.148 7.150 7.150 7.149 7.148 7.147 7.147
99-24+ 7.144 7.147 7.146 7.146 7.143 7.142 7.142
99-25 7.141 7.144 7.143 7.142 7.139 7.138 7.137
99-25+ 7.137 7.142 7.140 7.139 7.135 7.133 7.132
99-26 7.133 7.139 7.137 7.135 7.131 7.129 7.127
99-26+ 7.129 7.136 7.134 7.132 7.126 7.124 7.122
99-27 7.125 7.133 7.131 7.129 7.122 7.119 7.117
99-27+ 7.122 7.131 7.128 7.125 7.118 7.115 7.112
99-28 7.118 7.128 7.125 7.122 7.114 7.110 7.107
99-28+ 7.114 7.125 7.122 7.118 7.109 7.106 7.102
99-29 7.110 7.122 7.119 7.115 7.105 7.101 7.097
99-29+ 7.106 7.120 7.116 7.112 7.101 7.096 7.092
99-30 7.102 7.117 7.113 7.108 7.097 7.092 7.087
99-30+ 7.099 7.114 7.109 7.105 7.092 7.087 7.082
99-31 7.095 7.111 7.106 7.102 7.088 7.083 7.077
99-31+ 7.091 7.108 7.103 7.098 7.084 7.078 7.072
100-00 7.087 7.106 7.100 7.095 7.080 7.073 7.067
100-00+ 7.083 7.103 7.097 7.091 7.075 7.069 7.062
100-01 7.079 7.100 7.094 7.088 7.071 7.064 7.057
100-01+ 7.076 7.097 7.091 7.085 7.067 7.060 7.052
100-02 7.072 7.095 7.088 7.081 7.063 7.055 7.047
100-02+ 7.068 7.092 7.085 7.078 7.059 7.050 7.042
100-03 7.064 7.089 7.082 7.074 7.054 7.046 7.037
100-03+ 7.060 7.086 7.079 7.071 7.050 7.041 7.032
100-04 7.057 7.084 7.076 7.068 7.046 7.037 7.027
100-04+ 7.053 7.081 7.073 7.064 7.042 7.032 7.022
100-05 7.049 7.078 7.069 7.061 7.037 7.027 7.017
100-05+ 7.045 7.075 7.066 7.058 7.033 7.023 7.012
100-06 7.041 7.073 7.063 7.054 7.029 7.018 7.007
100-06+ 7.037 7.070 7.060 7.051 7.025 7.014 7.002
100-07 7.034 7.067 7.057 7.047 7.020 7.009 6.997
100-07+ 7.030 7.064 7.054 7.044 7.016 7.004 6.992
First Payment 4.208 6.208 5.375 4.708 3.792 3.458 3.125
Average Life 5.000 7.510 6.541 5.795 4.418 4.013 3.674
Last Payment 6.125 9.125 8.042 7.208 5.208 4.625 4.292
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
<TABLE>
<S> <C> <C>
CURRENT BALANCE: $10,160,000.00 DATED DATE: 09/01/96
COUPON: 7.350% ucfcmh61 FIRST PAYMENT: 10/15/96
FACTOR: 1.0000000000 TOTAL CLASSES: 9
ORIGINAL BALANCE: $10,160,000.00 BOND A4 PRICE-YIELD TABLE YIELD TABLE DATE: 09/30/96
</TABLE>
PREPAYMENT SPEED
<TABLE>
<CAPTION>
PRICING SPEED
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.457 7.458 7.458 7.458 7.456 7.455 7.454
99-24+ 7.454 7.456 7.456 7.455 7.453 7.451 7.450
99-25 7.451 7.454 7.453 7.452 7.450 7.448 7.446
99-25+ 7.448 7.452 7.451 7.450 7.446 7.444 7.442
99-26 7.445 7.450 7.449 7.447 7.443 7.441 7.438
99-26+ 7.443 7.448 7.446 7.445 7.440 7.437 7.434
99-27 7.440 7.445 7.444 7.442 7.437 7.433 7.430
99-27+ 7.437 7.443 7.441 7.440 7.434 7.430 7.426
99-28 7.434 7.441 7.439 7.437 7.430 7.426 7.422
99-28+ 7.431 7.439 7.437 7.434 7.427 7.423 7.418
99-29 7.428 7.437 7.434 7.432 7.424 7.419 7.414
99-29+ 7.426 7.435 7.432 7.429 7.421 7.415 7.410
99-30 7.423 7.432 7.430 7.427 7.418 7.412 7.406
99-30+ 7.420 7.430 7.427 7.424 7.414 7.408 7.402
99-31 7.417 7.428 7.425 7.422 7.411 7.405 7.398
99-31+ 7.414 7.426 7.423 7.419 7.408 7.401 7.394
100-00 7.411 7.424 7.420 7.417 7.405 7.397 7.390
100-00+ 7.409 7.422 7.418 7.414 7.402 7.394 7.386
100-01 7.406 7.419 7.415 7.411 7.399 7.390 7.382
100-01+ 7.403 7.417 7.413 7.409 7.395 7.387 7.378
100-02 7.400 7.415 7.411 7.406 7.392 7.383 7.374
100-02+ 7.397 7.413 7.408 7.404 7.389 7.380 7.371
100-03 7.394 7.411 7.406 7.401 7.386 7.376 7.367
100-03+ 7.392 7.409 7.404 7.399 7.383 7.372 7.363
100-04 7.389 7.406 7.401 7.396 7.379 7.369 7.359
100-04+ 7.386 7.404 7.399 7.394 7.376 7.365 7.355
100-05 7.383 7.402 7.397 7.391 7.373 7.362 7.351
100-05+ 7.380 7.400 7.394 7.388 7.370 7.358 7.347
100-06 7.377 7.398 7.392 7.386 7.367 7.354 7.343
100-06+ 7.375 7.396 7.390 7.383 7.364 7.351 7.339
100-07 7.372 7.394 7.387 7.381 7.360 7.347 7.335
100-07+ 7.369 7.391 7.385 7.378 7.357 7.344 7.331
First Payment 6.125 9.125 8.042 7.208 5.208 4.625 4.292
Average Life 7.350 10.789 9.484 8.472 6.320 5.440 4.802
Last Payment 8.708 12.458 11.125 9.958 7.542 6.542 5.625
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
<TABLE>
<S> <C> <C>
CURRENT BALANCE: $10,198,000.00 DATED DATE: 09/01/96
COUPON: 7.575% ucfcmh61 FIRST PAYMENT: 10/15/96
FACTOR: 1.0000000000 TOTAL CLASSES: 9
ORIGINAL BALANCE: $10,198,000.00 BOND A5 PRICE-YIELD TABLE YIELD TABLE DATE: 09/30/96
</TABLE>
PREPAYMENT SPEED
<TABLE>
<CAPTION>
PRICING SPEED
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-20 7.707 7.705 7.706 7.706 7.708 7.709 7.711
99-20+ 7.705 7.703 7.704 7.704 7.706 7.707 7.708
99-21 7.703 7.701 7.702 7.702 7.703 7.704 7.705
99-21+ 7.700 7.699 7.700 7.700 7.701 7.701 7.702
99-22 7.698 7.698 7.698 7.698 7.698 7.699 7.699
99-22+ 7.696 7.696 7.696 7.696 7.696 7.696 7.696
99-23 7.694 7.694 7.694 7.694 7.693 7.693 7.693
99-23+ 7.691 7.692 7.692 7.692 7.691 7.691 7.690
99-24 7.689 7.690 7.690 7.690 7.689 7.688 7.687
99-24+ 7.687 7.688 7.688 7.688 7.686 7.685 7.684
99-25 7.685 7.687 7.686 7.685 7.684 7.682 7.681
99-25+ 7.682 7.685 7.684 7.683 7.681 7.680 7.678
99-26 7.680 7.683 7.682 7.681 7.679 7.677 7.675
99-26+ 7.678 7.681 7.680 7.679 7.676 7.674 7.672
99-27 7.676 7.679 7.678 7.677 7.674 7.672 7.669
99-27+ 7.673 7.677 7.676 7.675 7.671 7.669 7.666
99-28 7.671 7.676 7.674 7.673 7.669 7.666 7.663
99-28+ 7.669 7.674 7.672 7.671 7.667 7.664 7.660
99-29 7.667 7.672 7.670 7.669 7.664 7.661 7.657
99-29+ 7.665 7.670 7.668 7.667 7.662 7.658 7.655
99-30 7.662 7.668 7.667 7.665 7.659 7.656 7.652
99-30+ 7.660 7.666 7.665 7.663 7.657 7.653 7.649
99-31 7.658 7.665 7.663 7.661 7.654 7.650 7.646
99-31+ 7.656 7.663 7.661 7.659 7.652 7.648 7.643
100-00 7.653 7.661 7.659 7.657 7.650 7.645 7.640
100-00+ 7.651 7.659 7.657 7.654 7.647 7.642 7.637
100-01 7.649 7.657 7.655 7.652 7.645 7.640 7.634
100-01+ 7.647 7.655 7.653 7.650 7.642 7.637 7.631
100-02 7.644 7.654 7.651 7.648 7.640 7.634 7.628
100-02+ 7.642 7.652 7.649 7.646 7.637 7.632 7.625
100-03 7.640 7.650 7.647 7.644 7.635 7.629 7.622
100-03+ 7.638 7.648 7.645 7.642 7.633 7.626 7.619
First Payment 8.708 12.458 11.125 9.958 7.542 6.542 5.625
Average Life 10.500 14.513 13.062 11.851 9.242 8.114 7.086
Last Payment 12.625 16.958 15.375 13.958 11.292 10.042 8.875
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
<TABLE>
<S> <C> <C>
CURRENT BALANCE: $10,759,000.00 DATED DATE: 09/01/96
COUPON: 8.020% ucfcmh61 FIRST PAYMENT: 10/15/96
FACTOR: 1.0000000000 TOTAL CLASSES: 9
ORIGINAL BALANCE: $10,759,000.00 BOND A6 PRICE-YIELD TABLE YIELD TABLE DATE: 09/30/96
</TABLE>
************** TO CALL *****************
PREPAYMENT SPEED
<TABLE>
<CAPTION>
PRICING SPEED
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 8.148 8.149 8.148 8.148 8.147 8.147 8.146
99-24+ 8.146 8.147 8.147 8.146 8.145 8.145 8.144
99-25 8.144 8.145 8.145 8.144 8.143 8.143 8.142
99-25+ 8.142 8.144 8.143 8.143 8.141 8.141 8.140
99-26 8.140 8.142 8.141 8.141 8.139 8.139 8.138
99-26+ 8.138 8.140 8.140 8.139 8.137 8.136 8.135
99-27 8.136 8.139 8.138 8.137 8.135 8.134 8.133
99-27+ 8.134 8.137 8.136 8.135 8.133 8.132 8.131
99-28 8.133 8.135 8.134 8.134 8.131 8.130 8.129
99-28+ 8.131 8.134 8.133 8.132 8.129 8.128 8.127
99-29 8.129 8.132 8.131 8.130 8.127 8.126 8.124
99-29+ 8.127 8.130 8.129 8.128 8.125 8.124 8.122
99-30 8.125 8.129 8.128 8.126 8.124 8.122 8.120
99-30+ 8.123 8.127 8.126 8.125 8.122 8.120 8.118
99-31 8.121 8.125 8.124 8.123 8.120 8.118 8.116
99-31+ 8.119 8.124 8.122 8.121 8.118 8.116 8.113
100-00 8.118 8.122 8.121 8.119 8.116 8.114 8.111
100-00+ 8.116 8.120 8.119 8.117 8.114 8.111 8.109
100-01 8.114 8.119 8.117 8.116 8.112 8.109 8.107
100-01+ 8.112 8.117 8.116 8.114 8.110 8.107 8.105
100-02 8.110 8.115 8.114 8.112 8.108 8.105 8.102
100-02+ 8.108 8.114 8.112 8.110 8.106 8.103 8.100
100-03 8.106 8.112 8.110 8.108 8.104 8.101 8.098
100-03+ 8.104 8.110 8.109 8.107 8.102 8.099 8.096
100-04 8.102 8.109 8.107 8.105 8.100 8.097 8.094
100-04+ 8.101 8.107 8.105 8.103 8.098 8.095 8.091
100-05 8.099 8.105 8.103 8.101 8.096 8.093 8.089
100-05+ 8.097 8.104 8.102 8.100 8.094 8.091 8.087
100-06 8.095 8.102 8.100 8.098 8.092 8.089 8.085
100-06+ 8.093 8.100 8.098 8.096 8.090 8.087 8.083
100-07 8.091 8.099 8.097 8.094 8.088 8.084 8.080
100-07+ 8.089 8.097 8.095 8.092 8.086 8.082 8.078
First Payment 12.625 16.958 15.375 13.958 11.292 10.042 8.875
Average Life 14.501 18.692 17.311 15.886 13.266 12.146 11.084
Last Payment 14.958 19.042 17.708 16.292 13.792 12.792 11.875
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
<TABLE>
<S> <C> <C>
CURRENT BALANCE: $10,350,000.00 DATED DATE: 09/01/96
COUPON: 7.900% ucfcmh61 FIRST PAYMENT: 10/15/96
FACTOR: 1.0000000000 TOTAL CLASSES: 9
ORIGINAL BALANCE: $10,350,000.00 BOND M PRICE-YIELD TABLE YIELD TABLE DATE: 09/30/96
</TABLE>
************** TO CALL **********
PREPAYMENT SPEED
<TABLE>
<CAPTION>
PRICING SPEED
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-21 8.037 8.036 8.036 8.037 8.037 8.037 8.037
99-21+ 8.034 8.034 8.034 8.034 8.034 8.034 8.035
99-22 8.032 8.032 8.032 8.032 8.032 8.032 8.032
99-22+ 8.029 8.030 8.030 8.030 8.029 8.029 8.029
99-23 8.027 8.028 8.027 8.027 8.027 8.027 8.027
99-23+ 8.025 8.026 8.025 8.025 8.024 8.024 8.024
99-24 8.022 8.024 8.023 8.023 8.022 8.022 8.021
99-24+ 8.020 8.022 8.021 8.020 8.020 8.019 8.019
99-25 8.017 8.020 8.019 8.018 8.017 8.017 8.016
99-25+ 8.015 8.017 8.017 8.016 8.015 8.014 8.014
99-26 8.013 8.015 8.014 8.013 8.012 8.012 8.011
99-26+ 8.010 8.013 8.012 8.011 8.010 8.009 8.008
99-27 8.008 8.011 8.010 8.009 8.007 8.006 8.006
99-27+ 8.005 8.009 8.008 8.006 8.005 8.004 8.003
99-28 8.003 8.007 8.006 8.004 8.002 8.001 8.001
99-28+ 8.001 8.005 8.004 8.002 8.000 7.999 7.998
99-29 7.998 8.003 8.001 7.999 7.997 7.996 7.995
99-29+ 7.996 8.001 7.999 7.997 7.995 7.994 7.993
99-30 7.993 7.999 7.997 7.995 7.992 7.991 7.990
99-30+ 7.991 7.997 7.995 7.993 7.990 7.989 7.987
99-31 7.989 7.995 7.993 7.990 7.987 7.986 7.985
99-31+ 7.986 7.993 7.991 7.988 7.985 7.984 7.982
100-00 7.984 7.991 7.988 7.986 7.982 7.981 7.980
100-00+ 7.982 7.989 7.986 7.983 7.980 7.979 7.977
100-01 7.979 7.987 7.984 7.981 7.978 7.976 7.974
100-01+ 7.977 7.985 7.982 7.979 7.975 7.973 7.972
100-02 7.974 7.983 7.980 7.976 7.973 7.971 7.969
100-02+ 7.972 7.981 7.978 7.974 7.970 7.968 7.967
100-03 7.970 7.979 7.976 7.972 7.968 7.966 7.964
100-03+ 7.967 7.977 7.973 7.969 7.965 7.963 7.961
100-04 7.965 7.975 7.971 7.967 7.963 7.961 7.959
100-04+ 7.962 7.973 7.969 7.965 7.960 7.958 7.956
First Payment 5.042 6.708 5.875 5.125 5.042 5.042 5.042
Average Life 10.047 13.100 11.862 10.691 9.541 9.100 8.701
Last Payment 14.958 19.042 17.708 16.292 13.792 12.792 11.875
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
<TABLE>
<S> <C> <C>
CURRENT BALANCE: $8,050,000.00 DATED DATE: 09/01/96
COUPON: 8.000% ucfcmh61 FIRST PAYMENT: 10/15/96
FACTOR: 1.0000000000 TOTAL CLASSES: 9
ORIGINAL BALANCE: $8,050,000.00 BOND B1 PRICE-YIELD TABLE YIELD TABLE DATE: 09/30/96
</TABLE>
PREPAYMENT SPEED
<TABLE>
<CAPTION>
PRICING SPEED
175.0% 100.00% 125.00% 150.00% 200.00% 225.00% 250.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-23 8.129 8.130 8.129 8.129 8.129 8.129 8.128
99-23+ 8.126 8.127 8.127 8.126 8.126 8.126 8.125
99-24 8.123 8.125 8.124 8.123 8.123 8.122 8.122
99-24+ 8.120 8.123 8.122 8.120 8.120 8.119 8.119
99-25 8.117 8.120 8.119 8.118 8.117 8.116 8.116
99-25+ 8.114 8.118 8.116 8.115 8.114 8.113 8.113
99-26 8.111 8.115 8.114 8.112 8.111 8.110 8.110
99-26+ 8.108 8.113 8.111 8.109 8.108 8.107 8.107
99-27 8.105 8.111 8.109 8.106 8.105 8.104 8.104
99-27+ 8.102 8.108 8.106 8.103 8.102 8.101 8.100
99-28 8.099 8.106 8.103 8.101 8.099 8.098 8.097
99-28+ 8.097 8.103 8.101 8.098 8.096 8.095 8.094
99-29 8.094 8.101 8.098 8.095 8.093 8.092 8.091
99-29+ 8.091 8.099 8.096 8.092 8.090 8.089 8.088
99-30 8.088 8.096 8.093 8.089 8.087 8.086 8.085
99-30+ 8.085 8.094 8.090 8.086 8.084 8.083 8.082
99-31 8.082 8.091 8.088 8.084 8.081 8.080 8.079
99-31+ 8.079 8.089 8.085 8.081 8.078 8.077 8.076
100-00 8.076 8.087 8.083 8.078 8.075 8.074 8.073
100-00+ 8.073 8.084 8.080 8.075 8.072 8.071 8.069
100-01 8.070 8.082 8.077 8.072 8.069 8.067 8.066
100-01+ 8.067 8.080 8.075 8.069 8.066 8.064 8.063
100-02 8.064 8.077 8.072 8.067 8.063 8.061 8.060
100-02+ 8.061 8.075 8.070 8.064 8.060 8.058 8.057
100-03 8.058 8.072 8.067 8.061 8.057 8.055 8.054
100-03+ 8.056 8.070 8.064 8.058 8.054 8.052 8.051
100-04 8.053 8.068 8.062 8.055 8.051 8.049 8.048
100-04+ 8.050 8.065 8.059 8.052 8.048 8.046 8.045
100-05 8.047 8.063 8.057 8.050 8.045 8.043 8.042
100-05+ 8.044 8.060 8.054 8.047 8.042 8.040 8.038
100-06 8.041 8.058 8.052 8.044 8.039 8.037 8.035
100-06+ 8.038 8.056 8.049 8.041 8.036 8.034 8.032
First Payment 5.042 6.708 5.875 5.125 5.042 5.042 5.042
Average Life 7.355 9.832 8.715 7.708 7.126 6.934 6.771
Last Payment 10.292 13.542 12.208 10.958 9.792 9.375 9.042
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
THE STATISTICAL INFORMATION BELOW REGARDING THE CONTRACTS TO BE DELIVERED ON THE
CLOSING DATE IS PRELIMINARY IN NATURE AND SUBJECT TO CHANGE. THE DEPOSITOR
EXPECTS TO DELIVER ON THE CLOSING DATE CONTRACTS IN ADDITION TO THOSE DESCRIBED
HEREIN. SUCH ADDITIONAL CONTRACTS WILL BE DESCRIBED IN THE FINAL PROSPECTUS
SUPPLEMENT.
________________________________________________________________________________
- UCFC Funding Corporation Manufactured Housing
- $98,560,566.54
- Contract Summary Report
________________________________________________________________________________
Number of Contracts: 3,191
Aggregate Unpaid Principal Balance: $98,560,566.54
Weighted Average Contract Rate: 10.981%
Gross Contract Rate Range: 8.000% - 17.350%
________________________________________________________________________________
Average Unpaid Principal Balance: $30,887.05
Maximum Unpaid Principal Balance: $99,800.00
Minimum Unpaid Principal Balance: $4,802.91
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 262
Stated Rem Term Range: 31.000 - 360.000
Weighted Average Age (First Pay thru Last Pay): 3
Age Range: 0.000 - 122.000
Weighted Average Original Term: 265
Original Term Range: 36.000 - 360.000
Weighted Average Original LTV: 87.638
Original LTV Range: 19.370% - 100.000%
Contracts Secured By New Manufactured Homes 73.68%
Contracts Secured by Used Manufactured Homes 26.32%
Land-and-Home Contracts 19.15%
Primary Residences 99.71%
Contracts originated in connection with the purchase
of the related Manufactured Home 83.58%
Single Wide 47.27%
Double Wide 51.39%
Triple Wide 1.20%
Quadruple Wide 0.14%
________________________________________________________________________________
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
GEOGRAPHIC DISTRIBUTION
_______________________________________
Total
# % Current
State Loans Pool Balance
AL 8 .19 $186,714.29
AR 15 .43 $424,828.07
AZ 7 .25 $247,795.97
CA 1 .05 $45,838.93
CO 37 .92 $907,736.58
FL 206 7.35 $7,240,609.41
GA 331 10.24 $10,095,574.77
ID 1 .04 $40,000.00
IL 3 .08 $82,897.21
IN 17 .52 $509,876.38
KY 7 .18 $176,612.16
LA 69 1.71 $1,686,527.56
MD 3 .04 $41,813.02
ME 10 .32 $315,895.88
MI 30 .93 $916,021.15
MN 129 2.94 $2,892,876.00
MO 2 .06 $58,942.06
MS 20 .42 $414,835.89
NC 346 10.85 $10,695,339.67
NH 4 .11 $112,608.07
NM 56 1.80 $1,777,818.35
NY 9 .28 $274,286.06
OH 10 .24 $239,678.59
OK 5 .17 $170,590.31
OR 1 .03 $31,290.29
PA 34 .75 $740,120.08
SC 345 10.97 $10,814,798.35
TN 26 .74 $727,095.02
TX 1,417 46.15 $45,488,445.69
VA 5 .18 $178,241.19
WA 3 .12 $116,050.99
WI 2 .05 $49,114.11
WV 32 .87 $859,694.44
________________________________________
Total.. 3,191 100.00% $98,560,566.54
========================================
CURRENT CONTRACT AMOUNT
_________________________________________________________________
Total
Current # % Current
Contract Amt. Loan Pool Balance
Balance <= 5,000 4 .02 $19,519.38
5,000 < Balance <= 10,000 119 1.00 $984,791.18
10,000 < Balance <= 15,000 268 3.41 $3,364,585.88
15,000 < Balance <= 20,000 280 4.98 $4,907,324.11
20,000 < Balance <= 25,000 371 8.60 $8,473,093.73
25,000 < Balance <= 30,000 578 16.18 $15,945,140.36
30,000 < Balance <= 35,000 513 16.91 $16,667,421.93
35,000 < Balance <= 40,000 353 13.36 $13,166,050.95
40,000 < Balance <= 45,000 228 9.82 $9,677,906.95
45,000 < Balance <= 50,000 218 10.47 $10,320,856.99
50,000 < Balance <= 55,000 117 6.19 $6,100,868.68
55,000 < Balance <= 60,000 68 3.96 $3,905,875.63
60,000 < Balance <= 65,000 39 2.48 $2,439,650.68
65,000 < Balance <= 70,000 15 1.02 $1,000,450.94
70,000 < Balance <= 75,000 10 .73 $722,875.61
75,000 < Balance <= 80,000 3 .23 $231,601.50
80,000 < Balance <= 85,000 3 .25 $248,433.89
90,000 < Balance <= 95,000 1 .09 $92,625.00
95,000 < Balance <= 100,000 3 .30 $291,493.15
_________________________________________________________________
Total..... 3,191 100.00 $98,560,566.54
=================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
ORIGINAL LTV RANGE
_________________________________________________________________
Total
LTV # % Current
RANGE Loan Pool Balance
0.000 < LTV <= 50.000 102 1.65 $1,621,617.66
50.000 < LTV <= 55.000 48 1.04 $1,023,848.93
55.000 < LTV <= 60.000 72 1.55 $1,524,407.54
60.000 < LTV <= 65.000 84 1.89 $1,860,947.47
65.000 < LTV <= 70.000 121 3.15 $3,102,504.90
70.000 < LTV <= 75.000 175 4.76 $4,691,994.65
75.000 < LTV <= 80.000 252 7.70 $7,592,982.74
80.000 < LTV <= 85.000 301 9.08 $8,947,998.19
85.000 < LTV <= 90.000 438 14.21 $14,006,842.85
90.000 < LTV <= 95.000 664 22.07 $21,757,034.24
95.000 < LTV <= 100.000 934 32.90 $32,430,387.37
__________________________________________________________________
Total..... 3,191 100.00% $98,560,566.54
==================================================================
GROSS COUPON
________________________________________________________________
Gross Current
Coupon # Loans % Pool Balance
7.00% < Gross Coupon <= 8.00% 5 .24 $235,759.19
8.00% < Gross Coupon <= 9.00% 122 5.70 $5,619,306.76
9.00% < Gross Coupon <= 10.00% 397 16.28 $16,050,270.96
10.00% < Gross Coupon <= 11.00% 1,360 45.13 $44,480,783.05
11.00% < Gross Coupon <= 12.00% 757 18.44 $18,176,650.71
12.00% < Gross Coupon <= 13.00% 192 5.34 $5,263,389.43
13.00% < Gross Coupon <= 14.00% 83 2.61 $2,570,723.01
14.00% < Gross Coupon <= 15.00% 115 2.97 $2,923,544.67
15.00% < Gross Coupon <= 16.00% 101 2.01 $1,980,906.51
16.00% < Gross Coupon <= 17.00% 50 1.07 $1,051,614.19
17.00% < Gross Coupon <= 18.00% 9 .21 $207,618.06
________________________________________________________________
Total..... 3,191 100.00% $98,560,566.54
================================================================
ORIGINAL MATURITY
___________________________________________________________________
Total
Original # % Current
Maturity Loan Pool Balance
30 < Original Maturity <= 40 1 .01 $13,287.88
40 < Original Maturity <= 50 2 .01 $14,700.39
50 < Original Maturity <= 60 41 .41 $405,698.63
70 < Original Maturity <= 80 3 .04 $39,169.35
80 < Original Maturity <= 90 78 1.19 $1,175,135.96
90 < Original Maturity <= 100 19 .26 $254,494.40
100 < Original Maturity <= 110 4 .08 $74,599.59
110 < Original Maturity <= 120 306 5.66 $5,582,486.75
130 < Original Maturity <= 140 1 .01 $11,475.69
140 < Original Maturity <= 150 167 3.12 $3,070,506.12
170 < Original Maturity <= 180 586 15.35 $15,125,940.46
190 < Original Maturity <= 200 1 .03 $27,465.95
230 < Original Maturity <= 240 763 25.08 $24,720,703.46
290 < Original Maturity <= 300 521 19.12 $18,841,585.18
350 < Original Maturity <= 360 698 29.63 $29,203,316.73
___________________________________________________________________
Total..... 3,191 100.00% $98,560,566.54
===================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
REMAINING TERM
___________________________________________________________________
Total
# % Current
Remaining Term Loan Pool Balance
24 < Rem Term <= 36 3 .03 $28,318.53
36 < Rem Term <= 48 4 .04 $39,714.23
48 < Rem Term <= 60 43 .45 $443,343.47
60 < Rem Term <= 72 7 .12 $120,385.67
72 < Rem Term <= 84 77 1.14 $1,126,588.05
84 < Rem Term <= 96 21 .31 $306,364.13
96 < Rem Term <= 108 6 .09 $89,934.74
108 < Rem Term <= 120 302 5.63 $5,551,087.30
120 < Rem Term <= 132 2 .04 $44,153.48
132 < Rem Term <= 144 160 3.00 $2,954,116.49
144 < Rem Term <= 156 4 .15 $148,295.30
156 < Rem Term <= 168 11 .40 $396,233.37
168 < Rem Term <= 180 569 14.76 $14,546,426.41
204 < Rem Term <= 216 1 .03 $31,986.45
216 < Rem Term <= 228 6 .31 $301,215.63
228 < Rem Term <= 240 756 24.74 $24,387,501.38
276 < Rem Term <= 288 1 .03 $28,864.13
288 < Rem Term <= 300 520 19.09 $18,812,721.05
336 < Rem Term <= 348 2 .10 $94,076.56
348 < Rem Term <= 360 696 29.53 $29,109,240.17
___________________________________________________________________
Total..... 3,191 100.00% $98,560,566.54
===================================================================
LOAN AGE IN MONTHS (Original - Remaining Term)
___________________________________________________________________
Total
# % Current
Age of Loan Loan Pool Balance
0 < Age <= 12 3,147 98.86 $97,437,143.45
12 < Age <= 24 20 .67 $659,696.12
24 < Age <= 36 10 .25 $246,401.91
36 < Age <= 48 3 .05 $51,165.78
48 < Age <= 60 7 .12 $119,531.05
72 < Age <= 84 2 .02 $22,074.00
84 < Age <= 96 1 .01 $7,730.26
120 < Age <= 132 1 .02 $16,823.97
___________________________________________________________________
Total..... 3,191 100.00% $98,560,566.54
===================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
