<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 20, 1996
AMRESCO Residential Securities Corporation on behalf of:
AMRESCO RESIDENTIAL SECURITIES CORPORATION MORTGAGE LOAN TRUST 1996-4
- -----------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
New York 333-08687-01 Pending
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
c/o Bankers Trust Company
Four Albany Street
New York, New York 10006
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (714) 253-7575
No Change
------------------------------------------------------------
(Former name or former address, if changed since last report)
- -----------------------------------------------------------------------------
- -----------------------------------------------------------------------------
<PAGE>
Item 5. OTHER EVENTS.
Information relating to the distributions to Certificateholders for
the period from September 28, 1996 to October 25, 1996 (the "Monthly Period")
and a revision to the previously filed period from August 28, 1996 to
September 25, 1996 (the "Revised Monthly Period") of the AMRESCO Residential
Securities Corporation Mortgage Loan Trust 1996-4 (the "Registrant" or
"Trust") in respect of the Mortgage Loan Asset Backed Certificates, Series
1996-4, Class A (the "Certificates") issued by the Registrant and the
performance of the Trust (including distributions of principal and interest,
delinquent balances of mortgage loans, and the subordinated amount
remaining), together with certain other information relating to the
Certificates, is contained in the Monthly Reports for the Monthly Period and
Revised Monthly Period provided to Certificateholders pursuant to the Pooling
and Servicing Agreement dated as of August 1, 1996, among AMRESCO Residential
Securities Corporation in its capacity as Depositor, AMRESCO Residential
Mortgage Corporation in its capacity as the Seller, Long Beach Mortgage
Company, Option One Mortgage Corporation and Advanta Mortgage Corp. USA as
the Servicers, and Bankers Trust Company of California, N.A., a national
banking association, in its capacity as the trustee.
Item 7. EXHIBITS:
Monthly Report for the Monthly Period relating to the Certificates
issued by the Trust.
Monthly Report for the Revised Monthly Period relating to the
Certificates issued by the Trust.
SIGNATURE
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 hereunto duly authorized.
By: AMRESCO Residential Securities Corporation
By: /s/ RONALD B. KIRKLAND
--------------------------------------------
Name: Ronald B. Kirkland
Title: Vice President and Chief
Accounting Officer
Dated: November 8, 1996
<PAGE>
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST
SERIES 1996-4
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
- ---------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 9,163,000.00 8,766,608.08 44,052.21 560,426.56 604,478.77 0.00 0.00 8,206,181.52
A-2 22,400,000.00 21,629,611.81 114,817.19 0.00 114,817.19 0.00 0.00 21,629,611.81
A-3 17,600,000.00 17,600,000.00 100,466.67 0.00 100,466.67 0.00 0.00 17,600,000.00
A-4 10,670,000.00 10,670,000.00 64,464.58 0.00 64,464.58 0.00 0.00 10,670,000.00
A-5 13,100,000.00 13,100,000.00 82,966.67 0.00 82,966.67 0.00 0.00 13,100,000.00
A-6 238,146,000.00 235,355,572.00 1,139,513.23 6,199,299.33 7,338,812.56 0.00 0.00 229,156,272.67
B-I0 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------
TOTALS 311,079,000.00 307,121,791.89 1,546,280.55 6,759,725.89 8,306,006.44 0.00 0.00 300,362,066.00
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ---------------------------------------------------------------------------------------------------------------------------
A-1 03215PAS8 956.739941 4.807619 61.161908 65.969526 895.578033 6.030000% 6.030000%
A-2 03215PAT6 965.607670 5.125767 0.000000 5.125767 965.607670 6.370000% 6.370000%
A-3 03215PAU3 1,000.000000 5.708334 0.000000 5.708334 1,000.000000 6.850000% 6.850000%
A-4 03215PAV1 1,000.000000 6.041666 0.000000 6.041666 1,000.000000 7.250000% 7.250000%
A-5 03215PAW9 1,000.000000 6.333334 0.000000 6.333334 1,000.000000 7.600000% 7.600000%
A-6 03215PAX7 988.282701 4.784935 26.031507 30.816443 962.251193 5.810000% 5.685000%
B-IO 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- ---------------------------------------------------------------------------------------------------------------------------
DEPOSITOR: AMRESCO Residential Securities Corporation ADMINISTRATOR: Timothy Lewis
SERVICERS: Advanta Mortgage/Long Beach Mortgage/Option One Mortgage Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities Incorporated 3 Park Plaza
RECORD DATE: September 28, 1996 Irvine, CA 92714
DISTRIBUTION DATE: October 25, 1996 FACTOR INFORMATION: (800) 735-7777
- ---------------------------------------------------------------------------------------------------------------------------
Page 1 of 4 -C-COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST
SERIES 1996-4
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
- -------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: OCTOBER 25, 1996
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
GROUP 1 GROUP 2 TOTALS
------- ------- ------
SERVICER ADVANCES:
INTEREST 0.00 477,755.55 477,755.55
PRINCIPAL 0.00 31,268.43 31,268.43
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 25,599.74 93,328.10 118,927.84
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00 0.00 0.00
---------- --------- ----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 25,599.74 93,328.10 118,927.84
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 928.70 3,297.37 4,226.07
LESS: DELINQUENT SERVICE FEES: 0.00 24,465.47 24,465.47
---------- --------- ----------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 24,671.04 65,565.26 90,236.30
0.079308 0.210767 0.290075
- -----------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN
INFORMATION* DAYS DAYS DAYS BANKRUPTCY FORECLOSURE
- -----------------------------------------------------------------------------------------------------------
GROUP 1 (Fixed Rate)
--------------------
PRINCIPAL BALANCE 2,688,747.84 155,752.74 555,768.30 79,891.39 166,187.69
NUMBER OF LOANS 29 2 4 1 1
3.76% 0.22% 0.78% 0.11% 0.23%
- -----------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
-------------------------
PRINCIPAL BALANCE 9,943,095.00 3,411,428.48 1,507,889.38 833,466.42 820,773.28
NUMBER OF LOANS 106 37 15 8 11
4.31% 1.48% 0.65% 0.36% 0.36%
- -----------------------------------------------------------------------------------------------------------
TOTAL
-----
PRINCIPAL BALANCE 12,631,842.84 3,567,181.22 2,063,657.68 913,357.81 986,960.97
NUMBER OF LOANS 135 39 19 9 12
4.18% 1.18% 0.68% 0.30% 0.33%
- -----------------------------------------------------------------------------------------------------------
*Delinquencies are inclusive of Foreclosures and Bankruptcies
REALIZED LOSS INFORMATION:
GROUP 1 GROUP 2 TOTAL
-------- --------- ---------
PRIOR REALIZED LOSSES: 0.00 0.00 0.00
PLUS: CURRENT REALIZED LOSSES 0.00 0.00 0.00
-------- --------- ---------
CUMULATIVE REALIZED LOSSES: 0.00 0.00 0.00
-------- --------- ---------
-------- --------- ---------
- -----------------------------------------------------------------------------------------------------------
Page 2 of 4 -C-COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST
SERIES 1996-4
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
- -----------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: OCTOBER 25, 1996
- -----------------------------------------------------------------------------------------------------------------
GROUP 1 GROUP 2 TOTALS
-------------- ------------- --------------
<S> <C> <C> <C>
BEGINNING NUMBER OF LOANS: 906 2,222 3,128
ENDING NUMBER OF LOANS: 901 2,179 3,080
BEGINNING PRINCIPAL BALANCE OF POOL: 71,908,672.35 235,984,236.71 307,892,909.06
ENDING PRINCIPAL BALANCE OF POOL: 71,554,517.69 230,485,722.85 302,040,240.54
GROUP FACTOR: 98.109201% 96.783034% 97.093957%
LARGEST LOAN BALANCE 311,604.12 726,916.06 1,038,520.18
WEIGHTED AVERAGE TERM TO MATURITY: 317.60 351.22 668.602
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.658751% 9.833907% 10.026550%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.656358% 9.825607% 10.022415%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 5 43 48
PRINCIPAL BALANCE: 263,368.49 5,351,579.93 5,614,948.43
AMOUNT PER $1000 CERTIFICATE: 28.742605 238.909818 18.049912
PREPAYMENT INTEREST SHORTFALL AMOUNT INCLUDED IN DISTRIBUTION: 928.70 3,297.37 4,226.07
NONCOVERED PREPAYMENT INTEREST SHORTFALL FOR THIS DISTRIBUTION: 0.00 0.00 0.00
REO PROPERTY INFORMATION:
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH FORECLOSURE: 0.00 0.00 0.00
AGGREGATE PRINCIPAL BALANCE OF REO LOANS: 0.00 0.00 0.00
NUMBER OF REO LOANS: 0 0 0
AVAILABLE FUNDS: 967,268.78 7,339,058.38 8,306,327.16
INSURED PAYMENT: 0.00 0.00 0.00
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
SCHEDULED PRINCIPAL: 90,786.17 146,933.93 237,720.10
PRINCIPAL PREPAYMENTS: 309,117.97 5,308,059.94 5,617,177.91
CURTAILMENTS: (45,749.48) 43,519.99 (2,229.49)
SUBORDINATION INCREASE AMOUNT: 206,271.90 700,785.47 907,057.37
PRE-FUNDED AMOUNTS DISTRIBUTED AS PREPAYMENTS: 0.00 0.00 0.00
-------------- ------------- --------------
560,426.56 6,199,299.33 6,759,725.89
REMAINING PRE-FUNDING AMOUNT: 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------
Page 3 of 4 -C-COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST
SERIES 1996-4
TRUSTEE DISTRIBUTION DATE STATEMENT
<TABLE>
- -----------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: OCTOBER 25, 1996
- -----------------------------------------------------------------------------------------------------------------
GROUP 1 GROUP 2 TOTALS
-------------- ------------- --------------
<S> <C> <C> <C>
SUBORDINATION AMOUNTS:
SUBORDINATED AMOUNT after all payments and transfers: 346,694.71 1,252,776.08 1,599,470.79
REQUIRED SUBORDINATION AMOUNT: 1,166,505.15 8,097,909.09 9,264,414.24
EXCESS SUBORDINATION AMOUNT: 0.00 0.00 0.00
SUBORDINATION DEFICIT: 0.00 0.00 0.00
UNREIMBURSED MONTHLY ADVANCES: 0.00 0.00 0.00
CUMULATIVE LOSS PERCENTAGE: 0.000000% 0.000000% 0.000000%
90+ DELINQUENCY PERCENTAGE: 0.258902% 0.218074% 0.476976%
INSURER PREMIUM AMOUNT: 0.00 0.00 0.00
TRUSTEE FEE AMOUNT: 74.90 245.82 320.72
GROUP II AVAILABLE FUNDS CAP CARRY-FORWARD AMOUNT: 0.00
ONE-MONTH LIBOR ON THE MOST RECENT ONE-MONTH LIBOR DETERMINATION DATE: 5.500000%
(N/A FOR FIRST PAYMENT)
- -----------------------------------------------------------------------------------------------------------------
CARRY FORWARD AMOUNTS
- -----------------------------------------------------------------------------------------------------------------
CURRENT AMOUNTS CUMULATIVE AMOUNTS AMOUNTS REIMBURSED THIS PERIOD
- -----------------------------------------------------------------------------------------------------------------
CLASS A1 0.00 0.00 0.00
CLASS A2 0.00 0.00 0.00
CLASS A3 0.00 0.00 0.00
CLASS A4 0.00 0.00 0.00
CLASS A5 0.00 0.00 0.00
CLASS A6 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------
Page 4 of 4 -C-COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST
SERIES 1996-4
REVISED
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
- ---------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 9,163,000.00 9,163,000.00 46,044.08 396,391.92 442,436.00 0.00 0.00 8,766,608.08
A-2 22,400,000.00 22,400,000.00 118,906.67 770,388.19 889,294.86 0.00 0.00 21,629,611.81
A-3 17,600,000.00 17,600,000.00 100,466.67 0.00 100,466.67 0.00 0.00 17,600,000.00
A-4 10,670,000.00 10,670,000.00 64,464.58 0.00 64,464.58 0.00 0.00 10,670,000.00
A-5 13,100,000.00 13,100,000.00 82,966.67 0.00 82,966.67 0.00 0.00 13,100,000.00
A-6 238,146,000.00 238,146,000.00 1,057,343.90 2,790,428.00 3,847,771.90 0.00 0.00 235,355,572.00
B-IO 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------
TOTALS 311,079,000.00 311,079,000.00 1,470,192.57 3,957,208.11 5,427,400.68 0.00 0.00 307,121,791.89
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ---------------------------------------------------------------------------------------------------------------------------
A-1 03215PAS8 1,000.000000 5.025001 43.260059 48.285059 956.739941 6.030000% 6.030000%
A-2 03215PAT6 1,000.000000 5.308333 34.392330 39.700663 965.607670 6.370000% 6.370000%
A-3 03215PAU3 1,000.000000 5.708334 0.000000 5.708334 1,000.000000 6.850000% 6.850000%
A-4 03215PAV1 1,000.000000 6.041666 0.000000 6.041666 1,000.000000 7.250000% 7.250000%
A-5 03215PAW9 1,000.000000 6.333334 0.000000 6.333334 1,000.000000 7.600000% 7.600000%
A-6 03215PAX7 1,000.000000 4.439898 11.717299 16.157197 988.282701 5.708440% 5.810000%
B-IO 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
R 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- ---------------------------------------------------------------------------------------------------------------------------
DEPOSITOR: AMRESCO Residential Securities Corporation ADMINISTRATOR: Timothy Lewis
SERVICERS: Advanta Mortgage/Long Beach Mortgage/Option One Mortgage Bankers Trust Company
LEAD UNDERWRITER: Prudential Securities Incorporated 3 Park Plaza
RECORD DATE: August 28, 1996 Irvine, CA 92714
DISTRIBUTION DATE: September 25, 1996 FACTOR INFORMATION: (800) 735-7777
- ---------------------------------------------------------------------------------------------------------------------------
Page 1 of 4 -C-COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST
SERIES 1996-4
REVISED
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
- -----------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: SEPTEMBER 25, 1996
- -----------------------------------------------------------------------------------------------------------
GROUP 1 GROUP 2 TOTALS
------- ------- ------
<S> <C> <C> <C>
SERVICER ADVANCES:
INTEREST 0.00 583,662.68 583,662.68
PRINCIPAL 0.00 25,550.51 25,550.51
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 23,283.83 83,201.17 106,485.00
PLUS ADDITIONAL SERVICING COMPENSATION: 0.00 0.00 0.00
---------- --------- ----------
TOTAL SERVICING FEES DUE MASTER SERVICER: 23,283.83 83,201.17 106,485.00
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS: 0.00 19.64 19.64
LESS: DELINQUENT SERVICE FEES: 0.00 30,113.77 30,113.77
---------- --------- ----------
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 23,283.83 53,067.76 76,351.59
0.074849 0.170593 0.245441
- -----------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN
INFORMATION* DAYS DAYS DAYS BANKRUPTCY FORECLOSURE
- -----------------------------------------------------------------------------------------------------------
GROUP 1 (Fixed Rate)
--------------------
PRINCIPAL BALANCE 186,486.90 542,793.47 0.00 0.00 0.00
NUMBER OF LOANS 3 3 0 0 0
0.29% 0.85% 0.00% 0.00% 0.00%
- -----------------------------------------------------------------------------------------------------------
GROUP 2 (Adjustable Rate)
-------------------------
PRINCIPAL BALANCE 6,592,168.86 1,577,922.83 0.00 602,687.24 68,714.63
NUMBER OF LOANS 74 17 0 5 1
3.25% 0.78% 0.00% 0.30% 0.03%
- -----------------------------------------------------------------------------------------------------------
TOTAL
-----
PRINCIPAL BALANCE 6,778,655.76 2,120,716.30 0.00 602,687.24 68,714.63
NUMBER OF LOANS 77 20 0 5 1
2.54% 0.79% 0.00% 0.23% 0.03%
- -----------------------------------------------------------------------------------------------------------
*Delinquencies are inclusive of Foreclosures and Bankruptcies
REALIZED LOSS INFORMATION:
GROUP 1 GROUP 2 TOTAL
-------- --------- ---------
PRIOR REALIZED LOSSES: 0.00 0.00 0.00
PLUS: CURRENT REALIZED LOSSES 0.00 0.00 0.00
-------- --------- ---------
CUMULATIVE REALIZED LOSSES: 0.00 0.00 0.00
-------- --------- ---------
-------- --------- ---------
- -----------------------------------------------------------------------------------------------------------
Page 2 of 4 -C-COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST
SERIES 1996-4
REVISED
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
- -----------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: SEPTEMBER 25, 1996
- -----------------------------------------------------------------------------------------------------------------
GROUP 1 GROUP 2 TOTALS
-------------- ------------- --------------
<S> <C> <C> <C>
BEGINNING NUMBER OF LOANS: 828 1966 2794
ENDING NUMBER OF LOANS: 815 1953 2768
BEGINNING PRINCIPAL BALANCE OF POOL: 64,933,544.06 205,146,824.73 270,080,368.79
ENDING PRINCIPAL BALANCE OF POOL: 63,906,642.70 202,907,562.61 266,814,205.31
GROUP FACTOR: 87.623114% 85.202716% 85.770184%
LARGEST LOAN BALANCE 311,737.20 613,583.76 925,320.96
WEIGHTED AVERAGE TERM TO MATURITY: 321.92 349.16 670.922
CURRENT WEIGHTED AVERAGE MORTGAGE RATE: 10.646187% 9.896861% 10.077016%
NEXT WEIGHTED AVERAGE MORTGAGE RATE: 10.647172% 9.899331% 10.078452%
PRINCIPAL PREPAYMENTS:
NUMBER OF LOANS (IF PAID IN FULL): 13 13 26
PRINCIPAL BALANCE: 989,426.44 2,139,401.34 3,128,827.78
AMOUNT PER $1000 CERTIFICATE: 107.980622 95.508988 10.057985
PREPAYMENT INTEREST SHORTFALL AMOUNT INCLUDED IN DISTRIBUTION: 0.00 19.64 19.64
NONCOVERED PREPAYMENT INTEREST SHORTFALL FOR THIS DISTRIBUTION: 0.00 0.00 0.00
REO PROPERTY INFORMATION:
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH FORECLOSURE: 0.00 0.00 0.00
AGGREGATE PRINCIPAL BALANCE OF REO LOANS: 0.00 0.00 0.00
NUMBER OF REO LOANS: 0 0 0
AVAILABLE FUNDS: 1,579,696.42 3,847,985.59 5,427,682.01
INSURED PAYMENT: 0.00 0.00 0.00
CLASS A PRINCIPAL DISTRIBUTION BREAKDOWN:
SCHEDULED PRINCIPAL: 37,474.92 99,860.78 137,335.70
PRINCIPAL PREPAYMENTS: 986,772.09 2,129,300.12 3,116,072.21
CURTAILMENTS: 2,654.35 10,101.22 12,755.57
SUBORDINATION INCREASE AMOUNT: 139,878.75 551,165.88 691,044.63
PRE-FUNDED AMOUNTS DISTRIBUTED AS PREPAYMENTS: 0.00 0.00 0.00
-------------- ------------- --------------
1,166,780.11 2,790,428.00 3,957,208.11
REMAINING PRE-FUNDING AMOUNT: 8,000,000.00 33,000,000.00 41,000,000.00
- -----------------------------------------------------------------------------------------------------------------
Page 3 of 4 -C-COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST
SERIES 1996-4
REVISED
TRUSTEE DISTRIBUTION DATE STATEMENT
<TABLE>
- -----------------------------------------------------------------------------------------------------------------
DISTRIBUTION DATE: SEPTEMBER 25, 1996
- -----------------------------------------------------------------------------------------------------------------
GROUP 1 GROUP 2 TOTALS
-------------- ------------- --------------
<S> <C> <C> <C>
SUBORDINATION AMOUNTS:
SUBORDINATED AMOUNT after all payments and transfers: 140,422.81 551,990.61 692,413.42
REQUIRED SUBORDINATION AMOUNT: 1,166,505.15 8,097,909.09 9,264,414.24
EXCESS SUBORDINATION AMOUNT: 0.00 0.00 0.00
SUBORDINATION DEFICIT: 0.00 0.00 0.00
UNREIMBURSED MONTHLY ADVANCES: 0.00 0.00 0.00
CUMULATIVE LOSS PERCENTAGE: 0.000000% 0.000000% 0.000000%
90+ DELINQUENCY PERCENTAGE: 0.000000% 0.000000% 0.000000%
INSURER PREMIUM AMOUNT: 0.00 0.00 0.00
TRUSTEE FEE AMOUNT: 67.64 213.69 281.33
GROUP II AVAILABLE FUNDS CAP CARRY-FORWARD AMOUNT: 0.00
ONE-MONTH LIBOR ON THE MOST RECENT ONE-MONTH LIBOR DETERMINATION DATE: N/A
(N/A FOR FIRST PAYMENT)
- -----------------------------------------------------------------------------------------------------------------
CARRY FORWARD AMOUNTS
- -----------------------------------------------------------------------------------------------------------------
CURRENT AMOUNTS CUMULATIVE AMOUNTS AMOUNTS REIMBURSED THIS PERIOD
- -----------------------------------------------------------------------------------------------------------------
CLASS A1 0.00 0.00 0.00
CLASS A2 0.00 0.00 0.00
CLASS A3 0.00 0.00 0.00
CLASS A4 0.00 0.00 0.00
CLASS A5 0.00 0.00 0.00
CLASS A6 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------
Page 4 of 4 -C-COPYRIGHT 1996 Bankers Trust Company
</TABLE>
