|
|
|
|
|
|
|
|
|
|
Previous: MUTUAL FUND SELECT TRUST, 497, 1996-12-31 |
Next: MANCHESTER EQUIPMENT CO INC, 10-Q, 1996-12-31 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
___________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event report) December 16, 1996
------------------
The Money Store Inc. (as Representative under a
Pooling and Servicing Agreement dated as of
August 31, 1996 providing for the issuance of
TMS Asset Backed Certificates, Series 1996-C) and
each of the Originators listed on Schedule A
attached hereto.
The Money Store, Inc.
---------------------
(Exact name of regristrant as specified in its charter)
New Jersey 33-98734 22-2293022
---------- -------- ----------
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
--------------------------------------------------
(Address of principal executive officer)
Registrant's Telephone Number,
including area code: (908) 686-2000
--------------
n/a
------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5 Other Events
------------
Attached herein as Annex A is a copy of the Monthly Statement sent to Class
A Certificate holders with respect to the December 16, 1996 Remittance Date.
Item 7 Financial Statements and Exhibits
---------------------------------
The quarterly financial statement for the period ended September 30, 1996
for MBIA Inc. is incorporated by reference to the Form 10Q filed by MBIA Inc.
with the Securities and Exchange Commission on November 14, 1996.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE MONEY STORE INC.
By: /s/ Harry Puglisi
---------------------
Harry Puglisi
Treasurer
Dated: December 31, 1996
<PAGE>
Schedule A
List of Originators
-------------------
1996-C
------
The Money Store/Minnesota Inc.
The Money Store/D.C. Inc.
The Money Store/ Kentucky Inc.
The Money Store Home Equity Corp.
TMS Mortgage Inc.
<PAGE>
SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.10 OF THE POOLING AND SERVICING
AGREEMENT DATED AS OF AUGUST 31, 1996, THE MONEY STORE INC.
REPORTS THE FOLLOWING INFORMATION PERTAINING TO SERIES 1996-C
FOR THE DECEMBER 11, 1996 DETERMINATION DATE.
<TABLE>
<CAPTION>
POOL I POOL II POOL III POOL IV
<S> <C> <C> <C> <C>
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $11,802,970.21 $ 4,948,189.13 $4,108,862.17 $338,273.06
ADJ : RECALCULATION 0.00 0.00 0.00 0.00
-------------------------------------------------------------
11,802,970.21 4,948,189.13 4,108,862.17 338,273.06
LESS: SERVICE FEE (7.03 & 5.04) 97,679.49 48,144.53 40,343.13 5,243.04
CONTINGENCY FEE (7.03 & 5.04) 97,679.49 48,144.53 40,343.13 5,243.04
OTHER SERVICER FEES (Late Charges / Escrow) 72,288.85 19,693.82 6,022.05 25.00
(7.03 & 5.04)
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00 0.00
-------------------------------------------------------------
267,647.83 115,982.88 86,708.31 10,511.08
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 0.00 83,407.63 0.00 0.00
PRE-FUNDING ACCOUNT TRANSFER (6.02) 300,920.64 46,295.48 0.00 14,467.34
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 250,422.19 19,927.30 0.00 13,019.18
--------------------------------------------------------------
551,342.83 149,630.42 0.00 27,486.52
LESS: EXCESS SPREAD (I-19) 1,269,877.50 667,582.74 751,778.91 22,313.00
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00 0.00
--------------------------------------------------------------
1,269,877.50 667,582.74 751,778.91 22,313.00
--------------------------------------------------------------
AVAILABLE REMITTANCE AMOUNT 10,816,787.71 4,314,253.93 3,270,374.95 332,935.50
==============================================================
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 117,703,842.52
(B) CLASS A-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 30,516,000.00
(C) CLASS A-3 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 76,680,000.00
(D) CLASS A-4 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 54,763,000.00
(E) CLASS A-5 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 114,142,749.42
(F) CLASS A-6 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 51,521,000.00
(G) CLASS A-7 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 44,182,000.00
(H) CLASS A-8 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 208,876,105.34
(I) CLASS A-9 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 60,000,000.00
(J) CLASS A-10 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 78,343,976.59
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(K) CLASS A-11 PRINCIPAL BALANCE AS REPORTED
(K) CLASS A-11 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 48,198,000.00
(L) CLASS A-12 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 22,388,000.00
(M) CLASS A-13 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 20,627,000.00
(N) CLASS A-14 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 24,918,000.00
(O) CLASS A-15 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 24,332,028.29
3. PRINCIPAL DISTRIBUTION AMOUNTS :
CLASS A-1 6,274,603.20
CLASS A-2 0.00
CLASS A-3 0.00
CLASS A-4 0.00
CLASS A-5 2,952,754.45
CLASS A-6 0.00
CLASS A-7 0.00
TOTAL POOL I PRINCIPAL DISTRIBUTION AMOUNT 9,227,357.65
CLASS A-8 3,650,757.64
CLASS A-9 0.00
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT 3,650,757.64
CLASS A-10 2,880,942.16
CLASS A-11 0.00
CLASS A-12 0.00
CLASS A-13 0.00
CLASS A-14 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT 2,880,942.16
CLASS A-15 188,472.90
TOTAL POOL IV PRINCIPAL DISTRIBUTION AMOUNT 188,472.90
4. TOTAL AMOUNT OF POOL I, II , III & IV
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 2,296,081.47
POOL II 1,080,159.59
POOL III 19,442,024.01
POOL IV 1,590,959.08
(B) SPECIFIED SUBORDINATED AMOUNT
POOL I 15,500,000.00
POOL II 7,700,000.00
POOL III 24,000,000.00
POOL IV 6,250,000.00
6. PRINCIPAL PREPAYMENT RECEIVED DURING
THE DUE # ACCOUNTS DOLLARS
135 6,000,936.02
35 2,597,991.03
125 1,550,077.87
0 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 672,885.68
POOL II 2,500.00
POOL III 154,712.85
POOL IV 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 560,589.07
POOL II 478,972.93
POOL III 441,342.06
POOL IV 9,557.23
9. AMOUNT OF INTEREST RECEIVED
POOL I 4,496,270.59
POOL II 1,849,031.35
POOL III 1,951,349.01
POOL IV 235,207.79
10. (A) AMOUNT OF MONTHLY ADVANCES INCLUDING COMPENSATING
INTEREST TO BE MADE ON THE DETERMINATION DATE
TO BE DEPOSITED IN THE CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.01 (a) (ii)
POOL I 0.00
POOL II 83,407.63
POOL III 0.00
POOL IV 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 2,262.65
POOL II 287.30
POOL III 587.87
POOL IV 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) C 657,179.79
(B) P 6,274,603.20
(C) C 0.00
(D) M 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 6,931,782.99
CLASS A-2 REMITTANCE AMOUNT:
(A) C 173,941.20
(B) P 0.00
(C) C 0.00
(D) M 0.00
TOTAL CLASS A-2 REMITTANCE AMOUNT 173,941.20
CLASS A-3 REMITTANCE AMOUNT:
(A) C 451,773.00
(B) P 0.00
(C) C 0.00
(D) M 0.00
TOTAL CLASS A-3 REMITTANCE AMOUNT 451,773.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS A-4 REMITTANCE AMOUNT:
CLASS A-4 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 337,705.17
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-4 REMITTANCE AMOUNT 337,705.17
CLASS A-5 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 547,964.46
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,952,754.45
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-5 REMITTANCE AMOUNT 3,500,718.91
CLASS A-6 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 330,163.74
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-6 REMITTANCE AMOUNT 330,163.74
CLASS A-7 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 291,233.02
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-7 REMITTANCE AMOUNT 291,233.02
POOL I REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 2,789,960.38
(B) PRINCIPAL DISTRIBUTION AMOUNT 9,227,357.65
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 12,017,318.03
CLASS A-8 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,002,750.36
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,650,757.64
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-8 REMITTANCE AMOUNT 4,653,508.00
CLASS A-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 276,416.67
(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 276,416.67
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,279,167.03
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,650,757.64
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 4,929,924.67
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS A-10 REMITTANCE AMOUNT:
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 370,033.83
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,880,942.16
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 3,250,975.99
CLASS A-11 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 279,548.40
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-11 REMITTANCE AMOUNT 279,548.40
CLASS A-12 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 135,260.83
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-12 REMITTANCE AMOUNT 135,260.83
CLASS A-13 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 129,606.32
(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 129,606.32
CLASS A-14 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 161,655.53
(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 161,655.53
POOL III REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,076,104.91
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,880,942.16
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 3,957,047.07
CLASS A-15 (POOL IV) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 154,609.76
(B) PRINCIPAL DISTRIBUTION AMOUNT 188,472.90
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL IV REMITTANCE AMOUNT 343,082.66
</TABLE>
<PAGE>
<TABLE>
<S> <C>
14.(A) REIMBURSABLE AMOUNTS 0.00
14.(A) REIMBURSABLE AMOUNTS 0.00
(B) CLASS R REMITTANCE AMOUNT PAYABLE PURSUANT
TO SECTION 6.08(d) (iii) AND (iv)
POOL I (0.00)
POOL II (0.00)
POOL III 0.00
POOL IV 0.00
15.(A) CLASS A-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 111,429,239.32
(B) CLASS A-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 30,516,000.00
(C) CLASS A-3 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 76,680,000.00
(D) CLASS A-4 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 54,763,000.00
(E) CLASS A-5 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 111,189,994.97
(F) CLASS A-6 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 51,521,000.00
(G) CLASS A-7 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 44,182,000.00
(H) CLASS A-8 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 205,225,347.70
(I) CLASS A-9 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 60,000,000.00
(J) CLASS A-10 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 75,463,034.43
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 48,198,000.00
(L) CLASS A-12 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 22,388,000.00
(M) CLASS A-13 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 20,627,000.00
(N) CLASS A-14 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 24,918,000.00
(O) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 480,281,234.29
(P) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 265,225,347.70
(Q) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 191,594,034.43
(R) TOTAL POOL IV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 24,143,555.39
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II, III AND IV) 100.00%
(B) EXCESS SPREAD (POOL I) 1,269,877.50
EXCESS SPREAD (POOL II) 667,582.74
EXCESS SPREAD (POOL III) 751,778.91
EXCESS SPREAD (POOL IV) 22,313.00
TOTAL EXCESS SPREAD (POOL I, II, III and IV) 2,711,552.15
(C) REMAINDER EXCESS SPREAD AMOUNT POOL I 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL II 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL III 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL IV 0.00
TOTAL REMAINDER EXCESS SPREAD AMOUNT POOL I, II, III and IV 0.00
17. CUMULATIVE REALIZED LOSSES
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 269.792
POOL II 355.355
POOL III 207.573
POOL IV 336.455
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 11.605%
POOL II 9.592%
POOL III 12.065%
POOL IV 11.338%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 97,679.49
POOL II 48,144.53
POOL III 40,343.13
POOL IV 5,243.04
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 97,679.49
POOL II 48,144.53
POOL III 40,343.13
POOL IV 5,243.04
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 20,396.19
POOL II 11,203.17
POOL III 8,103.12
POOL IV 1,013.83
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 48,951.00
POOL II 26,888.00
POOL III 48,619.00
POOL IV 11,152.00
(E) FHA PREMIUM ACCOUNT 8,384.67
(F) CLASS A-9 AUCTION AGENT FEE 13,820.83
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE
SERVICERS PURSUANT TO: POOL I POOL II
(A) SECTION 5. 0.00 0.00
(B) SECTION 5. 0.00 0.00
(C) SECTION 5. 0.00 0.00
(D) SECTION 5. 0.00 0.00
(E) SECTION 5. 195,358.98 96,289.06
POOL III POOL IV
(A) SECTION 5. 0.00 0.00
(B) SECTION 5. 0.00 0.00
(C) SECTION 5. 0.00 0.00
(D) SECTION 5. 0.00 0.00
(E) SECTION 5. 80,686.26 10,486.08
21. CLASS
CURRENT CLASS A 111,429,239.32 0.89259071
ORIGINAL CLASS A 124,838,000.00
CLASS A-2 POOL FACTOR (I-5):
CURRENT CLASS A 30,516,000.00 1.00000000
ORIGINAL CLASS A 30,516,000.00
CLASS A-3 POOL FACTOR (I-5):
CURRENT CLASS A 76,680,000.00 1.00000000
ORIGINAL CLASS A 76,680,000.00
CLASS A-4 POOL FACTOR (I-5):
CURRENT CLASS A 54,763,000.00 1.00000000
ORIGINAL CLASS A 54,763,000.00
CLASS A-5 POOL FACTOR (I-5):
CURRENT CLASS A 111,189,994.97 0.94629783
ORIGINAL CLASS A 117,500,000.00
CLASS A-6 POOL FACTOR (I-5):
CURRENT CLASS A 51,521,000.00 1.00000000
ORIGINAL CLASS A 51,521,000.00
CLASS A-7 POOL FACTOR (I-5):
CURRENT CLASS A 44,182,000.00 1.00000000
ORIGINAL CLASS A 44,182,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
POOL I FACTOR:
POOL I FACTOR:
CURRENT POOL I PRINCIPAL BALANCE 480,281,234.29 0.96056247
ORIGINAL POOL I PRINCIPAL BALANCE 500,000,000.00
CLASS A-8 POOL FACTOR:
CURRENT CLASS A-8 PRINCIPAL BALANCE 205,225,347.70 0.95453650
ORIGINAL CLASS A-8 PRINCIPAL BALANCE 215,000,000.00
CLASS A-9 POOL FACTOR (I-5):
CURRENT CLASS A-9 PRINCIPAL BALANCE 60,000,000.00 1.00000000
ORIGINAL CLASS A-9 PRINCIPAL BALANCE 60,000,000.00
POOL II FACTOR:
CURRENT POOL II PRINCIPAL BALANCE 265,225,347.70 0.96445581
ORIGINAL POOL II PRINCIPAL BALANCE 275,000,000.00
CLASS A-10 POOL FACTOR (I-5):
CURRENT CLASS A-10 PRINCIPAL BALANCE 75,463,034.43 0.89977267
ORIGINAL CLASS A-10 PRINCIPAL BALANCE 83,869,000.00
CLASS A-11 POOL FACTOR (I-5):
CURRENT CLASS A-11 PRINCIPAL BALANCE 48,198,000.00 1.00000000
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 48,198,000.00
CLASS A-12 POOL FACTOR (I-5):
CURRENT CLASS A-12 PRINCIPAL BALANCE 22,388,000.00 1.00000000
ORIGINAL CLASS A-12 PRINCIPAL BALANCE 22,388,000.00
CLASS A-13 POOL FACTOR (I-5):
CURRENT CLASS A-13 PRINCIPAL BALANCE 20,627,000.00 1.00000000
ORIGINAL CLASS A-13 PRINCIPAL BALANCE 20,627,000.00
CLASS A-14 POOL FACTOR (I-5):
CURRENT CLASS A-14 PRINCIPAL BALANCE 24,918,000.00 1.00000000
ORIGINAL CLASS A-14 PRINCIPAL BALANCE 24,918,000.00
POOL III FACTOR:
CURRENT POOLI III PRINCIPAL BALANCE 191,594,034.43 0.95797017
ORIGINAL POOL III PRINCIPAL BALANCE 200,000,000.00
CLASS A-15 (POOL IV) FACTOR (I-5):
CURRENT CLASS A-15 PRINCIPAL BALANCE 24,143,555.39 0.96574222
ORIGINAL CLASS A-15 PRINCIPAL BALANCE 25,000,000.00
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 11.605%
POOL II 9.592%
POOL III 12.065%
POOL IV 11.338%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 10.935%
POOL II 8.655%
POOL III 10.215%
POOL IV 10.238%
(C) WEIGHTED AVERAGE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4,
CLASS A-5, CLASS A-6 AND CLASS A-7 ADJUST MORTGAGE LOAN REMITTANCE RATE 6.975%
CLASS A-8 AND CLASS A-9 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.755%
CLASS A-10, CLASS A-11, CLASS A-12, CLASS A-13 AND CLASS A-14
ADJUSTED MORTGAGE LOAN REMITTANCE RATE 6.933%
CLASS A-16 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.225%
----------------------------------------
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 09/30/96 10/31/96 11/30/96
----------------------------------------
POOL I 11.55% 11.546% 11.605%
POOL II 9.539% 9.566% 9.592%
POOL III 12.069% 12.069% 12.065%
POOL IV 11.235% 11.241% 11.338%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
23. CLASS A-5 REMITTANCE RATE 5.5828%
23. CLASS A-5 REMITTANCE RATE 5.5750%
CLASS A-8 REMITTANCE RATE 5.5750%
CLASS A-9 REMITTANCE RATE (BASED ON AUCTION RATE) 5.3500%
CLASS A-10 REMITTANCE RATE 5.4850%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-5 N/A
LIBOR PLUS MARGIN FOR CLASS A-8 N/A
AUCTION RATE FOR CLASS A-9 N/A
LIBOR PLUS MARGIN FOR CLASS A-10 N/A
24. LIBOR RATE 5.37500%
25. NET FUNDS CAP (RATE)
CLASS A-5 NET FUNDS CAP 10.856%
CLASS A-8 NET FUNDS CAP 9.143%
CLASS A-9 NET FUNDS CAP 9.143%
CLASS A-10 NET FUNDS CAP 11.379%
26. CLASS A-5 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
CLASS A-8 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
CLASS A-9 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
CLASS A-10 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
27. (A) AMOUNT OF DISTRIBUTION ALLOCABLE TO LIBOR
INTEREST CARRYOVER 0.00
(B) LIBOR INTEREST CARRYOVER BALANCE 0.00
28. (A) AMOUNT TO BE DEPOSITED INTO THE FHA PREMIUM ACCOUNT
FOR THE DUE PERIOD 8,384.67
(B) AMOUNT REIMBURURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PUSUANT TO 6.06(b)(i) 3,312.20
29. AMOUNT OF FHA PAYMENTS AND RELATED PAYMENTS
RECEIVED DURING THE MONTH 0.00
30. THE RESERVE AMOUNT FOR THE DUE PERIOD 20,000,000.00
31. CLAIMS FILED DURING THE DUE PERIOD 0.00
32. CLAIMS PAID DURING THE PERIOD 0.00
33. CLAIMS DENIED BY FHA DURING THE DUE PERIOD 0.00
34. CLAIMS PENDING PAYMENT BY FHA DURING THE DUE PERIOD 0.00
35. OTHER INFORMATION
(A) SPREAD ACCOUNT BALANCES
POOL I 0.00
POOL II 0.00
POOL III 18,134,790.75
POOL IV 1,511,232.56
(B) AMOUNT TO BE DEPOSITED INTO POOL III
SPREAD ACCOUNT DUE TO TRIGGER ACTIVATION 0
</TABLE>
<PAGE>
EXHIBIT O ( POOL I )
REMIC DELINQUENCIES AS OF -NOVERMBER 30, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-C-I $484,484,136.79 11136 1 TO 29 DAYS 64,454,147.61 1477 13.30%
30 TO 59 DAYS 7,218,187.40 154 1.49%
60 TO 89 DAYS 2,161,935.18 54 0.45%
90 AND OVER 651,607.61 19 0.13%
FORECLOSURE 102,600.00 1 0.02%
REO PROPERTY 0.00 0 0.00%
TOTALS $74,588,477.80 1,705 15.40%
========================================
</TABLE>
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -NOVERMBER 30, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-C-II $266,875,530.17 3235 1 TO 29 DAYS 34,810,278.33 425 13.04%
30 TO 59 DAYS 4,751,564.00 61 1.78%
60 TO 89 DAYS 2,297,801.09 21 0.86%
90 AND OVER 225,500.00 3 0.08%
FORECLOSURE 211,782.73 3 0.08%
REO PROPERTY 0.00 0 0.00%
TOTALS $42,296,926.15 513 15.85%
=========================================
</TABLE>
<PAGE>
EXHIBIT O ( POOL III )
REMIC DELINQUENCIES AS OF -NOVERMBER 30, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-C-III $193,560,408.75 11860 1 TO 29 DAYS 36,689,377.75 2269 18.96%
30 TO 59 DAYS 3,981,791.63 256 2.06%
60 TO 89 DAYS 1,782,906.79 121 0.92%
90 AND OVER 1,127,423.33 63 0.58%
CLAIMS PENDING 0.00 0 0.00%
FORECLOSURE 12,980.07 1 0.01%
REO PROPERTY 0.00 0 0.00%
TOTALS $43,594,479.57 2,710 22.52%
=======================================
</TABLE>
EXHIBIT O ( POOL IV )
REMIC DELINQUENCIES AS OF -NOVERMBER 30, 1996
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-C-IV 24,301,589.00 111 1 TO 29 DAYS 382,582.20 4 1.57%
30 TO 59 DAYS 0.00 0 0.00%
60 TO 89 DAYS 174,783.79 1 0.72%
90 AND OVER 0.00 0 0.00%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $557,365.99 5 2.29%
========================================
</TABLE>
<PAGE>
1996-C
The following additional information, presented in dollars, pursuant to
Secton 6.10 subclauses (ii), (vi), (vii), (viii), (xiii), (xv), (xxxvi)
is provided for each Class per $1,000 (or per $25,000 for Class A-9)
original dollar amount as of the Cut-Off Date.
<TABLE>
<CAPTION>
POOL I
SUBCLAUSE CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 942.85 1,000.00 1,000.00 1,000.00 971.43
(vi) 32.69 0.00 0.00 0.00 16.34
(vii) 3.67 0.00 0.00 0.00 1.83
(viii) 4.49 0.00 0.00 0.00 1.53
(xiii) (a) 5.26 5.70 5.89 6.17 4.66
(b) 50.26 0.00 0.00 0.00 25.13
(c) 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00
(xv) 892.59 1,000.00 1,000.00 1,000.00 946.30
(xxxvi) 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL II POOL III
SUBCLAUSE CLASS A-6 CLASS A-7 CLASS A-8 CLASS A-9 CLASS A-10
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 971.52 25,000.00 934.12
(vi) 0.00 0 12.08 0.00 18.48
(vii) 0.00 0 0.01 0.00 1.84
(viii) 0.00 0 2.23 0.00 5.26
(xiii) (a) 6.41 6.59 4.66 115.17 4.41
(b) 0.00 0 16.98 0.00 34.35
(c) 0.00 0 0.00 0.00 0.00
(d) 0.00 0 0.00 0.00 0.00
(xv) 1,000.00 1,000.00 954.54 25,000.00 899.77
(xxxvi) 0.00 0 0.00 0.00 0.00
<CAPTION>
POOL IV
POOL III POOL IV
CLASS A-16
SUBCLAUSE CLASS A-11 CLASS A-12 CLASS A-13 CLASS A-14 CLASS A-15 ----------
- --------------------------------------------------------------------------------------- <C>
988.08
<S> <C> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 1,000.00 1,000.00 973.28
0.00
(vi) 0.00 0.00 0.00 0.00 3.74
0.00
(vii) 0.00 0.00 0.00 0.00 0.00
0.39
(viii) 0.00 0.00 0.00 0.00 0.38
6.60
(xiii) (a) 5.80 6.04 6.28 6.49 6.18 2.37
(b) 0.00 0.00 0.00 0.00 7.54 0.00
(c) 0.00 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00
985.71
(xv) 1,000.00 1,000.00 1,000.00 1,000.00 965.74
0.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00
</TABLE>
|
|