<PAGE>
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 20, 1996
-----------------
First Alliance Mortgage Company
on behalf of
First Alliance Mortgage Loan Trust 1996-3
------------------------------------------------------
(Exact name of registrant as specified in its charter)
New York 33-79948 Applied For
- - ---------------------------- ------------ -------------------
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
c/o First Alliance Mortgage Company
Attention: Mark K. Mason
Executive Vice President and Chief Financial Officer
17305 Von Karman Avenue
Irvine, CA 92714
Address of Servicer
----------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (714)224-8500
Not Applicable
-----------------------------------------------------------------
(Former name or former address, if changed since last report.)
Item 5. Other Events.
<PAGE>
Information relating to the distributions to Certificateholders for the
November 1996 Monthly Period of the Trust in respect of the First Alliance
Mortgage Loan Asset Backed Certificates, Series 1996-3, 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
Report for the Monthly Period provided to certificateholders pursuant to the
Pooling and Servicing Agreement (the "Agreement") dated as of September 1, 1996
between First Alliance Mortgage Company as Servicer, and Bank Of New York , as
trustee.
Item 7. Exhibit.
Monthly Report for the November 1996 Monthly Period relating to the First
Alliance Mortgage Loan Asset Backed Certificates Series 1996-3, Class A issued
by the First Alliance Mortgage Loan Trust 1996-3.
<PAGE>
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.
First Alliance Mortgage Loan Trust 1996-3
-----------------------------------------
(Registrant)
By: First Alliance Mortgage Company
-----------------------------------------
(Servicer)
Date: January 27, 1997 By:
---------------- -----------------------------------------
Name: Mark K. Mason
-----------------------------------------
Executive Vice President and
Title: Chief Financial Officer
-----------------------------------------
<PAGE>
[LETTERHEAD OF THE BANK OF NEW YORK] PAGE NUMBER: 1
Payment Date: 11/20/96
Accrual Period: 10/21/96
thru 11/19/96
FIRST ALLIANCE MORTGAGE LOAN TRUST
Mortgage Pass-Through Certificates, Series 1996-3
<TABLE>
<CAPTION>
Class Information Current Payment Information Factors per $1,000
- - ----------------- --------------------------------------------------------------------------- -------------------------------------
BEGINNING PASS THRU PRINCIPAL INTEREST TOTAL ENDING PRINCIPAL INTEREST ENDING
CLASS CODE NAME CERT. BAL. RATE DIST. AMT. DIST. AMT. DIST. CERT.BAL. DIST. DIST. CERT. BAL
- - ---------- ---- ------------- --------- ---------- ---------- ---------- ------------- ----------- ---------- ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 33,344,790.68 7.625000% 220,294.63 211,878.36 432,172.99 33,124,496.05 6.57595910 6.32472716 988.79092687
A-2 36,279,773.82 5.757500% 325,636.52 174,067.33 499,703.85 35,954,137.30 8.92154849 4.76896795 985.04485753
R n/a 0.000000% n/a 0.00 0.00 n/a n/a n/a n/a
- - ------------------------------------------------------------------------------------------------------------------------------------
Totals - 69,624,564.50 - 545,931.15 385,945.69 931,876.84 69,078,633.35 7.79901643 5.51350986 986.83761929
====================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Class Information Original Certificate Information
- - ---------------------- ---------------------------------------------------
TYPE NAME CERT. BAL. PASS THRU CUSIPS
- - ------------- ---- ------------- ---------------- -------------
<S> <C> <C> <C> <C>
Fixed Rate A-1 33,500,000.00 7.625000% 31846LBE5
Variable Rate A-2 36,500,000.00 5.800000% 31846LBF2
Residual R 0.00 0.000000% n/a
- - -----------------------------------------------------------------------------
Totals - 70,000,000.00 - -
=============================================================================
</TABLE>
<TABLE>
<CAPTION>
Unpaid Amounts
---------------------------
CARRY INTEREST
NAME FORWARD SHORTFALLS
- - ---- ------- ----------
<S> <C> <C>
A-1 0.00 0.00
A-2 0.00 0.00
R 0.00 0.00
- - --------------------------------------------
Totals - -
============================================
</TABLE>
<PAGE>
[LETTERHEAD OF THE BANK OF NEW YORK] PAGE NUMBER: 2
Payment Date: 11/20/96
Accrual Period: 10/21/96
thru 11/19/96
FIRST ALLIANCE MORTGAGE LOAN TRUST
Mortgage Pass-Through Certificates, Series 1996-3
<TABLE>
<CAPTION>
P&S Ref.
Sec. 7.8 COLLATERAL INFORMATION Group 1 Group 2 TOTAL
- - -------- ---------------------------------- --------------- ---------------- ---------------
<S> <C> <C> <C> <C>
Aggregate stated principal balance 33,260,725.64 36,094,504.57 69,355,230.21
Initial mortgage loan balance 26,220,736.51 26,563,028.69 52,783,765.20
Subsequent mortgage loans 7,273,813.57 9,927,288.05 17,201,101.62
Aggregate scheduled principal amt 17,259.86 23,962.72 41,222.58
Aggregate scheduled interest amt 294,442.52 272,264.98 566,707.50
Aggregate prepayment amount 135,062.99 219,388.18 354,451.17
<CAPTION>
P&S Ref.
Sec. 7.8 FEES Group 1 Group 2 TOTAL
- - -------- ---------------------------------- --------------- ---------------- ---------------
<S> <C> <C> <C> <C>
Monthly servicer fees 13,922.16 15,140.84 29,063.00
Monthly trustee fees 403.74 439.08 842.82
Monthly premium fees 0.00 0.00 0.00
=============== ================ ===============
13,807.34 14,901.08 28,708.42
<CAPTION>
P&S Ref.
Sec. 7.8 OTHER INFORMATION Group 1 Group 2 TOTAL
- - -------- ---------------------------------- --------------- ---------------- ---------------
<S> <C> <C> <C> <C>
Insured payments 0.00 0.00 0.00
Compensating interest amount 518.56 678.84 1,197.40
Pre-funding transfer amount 0.00 0.00 0.00
Subordinated increase amount 68,238.26 82,617.73 150,855.99
Subordinated reduction amount 0.00 0.00 0.00
Remaining pre-funded amount 0.00 0.00 0.00
Avail funds cap carry forward n/a 0.00 0.00
Projected net excess cashflow 68,257.81 58,081.65 126,339.46
Ending subordinated amount 136,229.59 140,367.27 276,596.86
Subordination deficiency 667,770.41 699,132.73 1,366,903.14
OC Target 804,000.00 839,500.00 1,643,500.00
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY INFORMATION
P&S Ref. ---------------------------------------
Sec. 7.8 Period Loan Count Ending Stated Balance
- - -------- -------------- ------------- ---------------------
<S> <C> <C> <C>
30-59 days 6 457,673.85
60-89 days 2 227,525.49
90+ days 0 0.00
In foreclosure 0 0.00
In bankruptcy 0 0.00
TOTALS 8 685,199.34
== ============
</TABLE>
<TABLE>
<CAPTION>
REO INFORMATION
P&S Ref. ------------------------------
Sec. 7.8 Reo Date Loan Number Ending Stated Balance Book Value
- - -------- -------- ----------- --------------------- ----------
<S> <C> <C> <C> <C>
- 0.0 0.0
- 0.0 0.0
- 0.0 0.0
- 0.0 0.0
- 0.0 0.0
- 0.0 0.0
- 0.0 0.0
TOTALS 0 0.0 0.0
= === ===
</TABLE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 7.8 LIQUIDATED LOAN INFORMATION Group 1 Group 2 TOTAL
- - -------- ---------------------------------- --------------- ---------------- ---------------
<S> <C> <C> <C> <C>
Net losses (this period) 0.00 0.00 0.00
Cumulative losses (since Cut-Off) 0.00 0.00 0.00
Substitution amount 0.00 0.00 0.00
Purchase price 0.00 0.00 0.00
Repurchase loan count 0.00 0.00 0.00
Repurchase loan balance 0.00 0.00 0.00
</TABLE>
