SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 30, 1996
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC.
(AS DEPOSITOR UNDER THE TRUST AGREEMENT,
DATED AS OF SEPTEMBER 30, 1996, PROVIDING FOR THE ISSUANCE OF
TRUST CERTIFICATES, SERIES 1996-4)
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-14225 41-6419825
- -------- --------- ----------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
Seven World Trade Center
New York, New York 10048
- ------------------------------ ----------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: (212) 783-5659
================================================================================
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
20.1 Salomon Brothers Mortgage Securities VII, Inc. Trust
Certificates, Series 1996-4, Statement to
Certificateholders dated 12/30/96
<PAGE>
20.2 Prudential Home Mortgage Securities Company, Inc. Mortgage
Pass-Through Certificates, Series 1994-8, Statement to
Certificateholders dated 12/26/96
20.3 GE Capital Mortgage Services, Inc. REMIC Multi-Class
Pass-Through Certificates, Series 1994-11, Statement to
Certificateholders dated 12/96
20.4 CWMBS, Inc., Mortgage Pass-Through Certificates, Series
1993-5, Statement to Certificateholders dated 12/26/96
20.5 Residential Funding Mortgage Securities I, Inc., Mortgage
Pass-Through Certificates, Series 1993-S34, Statement to
Certificateholders dated 12/26/96
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.
Dated: December 30, 1996
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC. by
First Trust National Association, as Trustee for
Salomon Brothers Mortgage Securities VII, Inc. Trust
Certificates, Series 1996-4.
By: /s/ Eve Kaplan
----------------------------------
Name: Eve Kaplan
Title: Vice President
Company: First Trust National Association
INDEX TO EXHIBITS
-----------------
Exhibit Description
------- -----------
20.1 Salomon Brothers Mortgage Securities VII, Inc. Trust Certificates,
Series 1996-4, Statement to Certificateholders dated 11/29/96
20.2 Prudential Home Mortgage Securities Company, Inc. Mortgage
Pass-Through Certificates, Series 1994-8, Statement to
Certificateholders dated 12/26/96
20.3 GE Capital Mortgage Services, Inc. REMIC Multi-Class Pass-Through
Certificates, Series 1994-11, Statement to Certificateholders
dated 12/26/96
20.4 CWMBS, Inc., Mortgage Pass-Through Certificates, Series 1993-5,
Statement to Certificateholders dated 12/26/96
20.5 Residential Funding Mortgage Securities I, Inc., Mortgage
Pass-Through Certificates, Series 1993-S34, Statement to
Certificateholders dated 12/26/96
Salomon Brothers Mortgage Securities VII, Inc.
Trust Certificates
Series 1996-4
DECEMBER DISTRIBUTION REPORT
Payment Date: 12/30/96
<TABLE>
<CAPTION>
Interest Principal Total Ending
CUSIP Original Payment Payment Payment Balance
Class Number Balance Factor Factor Factor Factor
- ----- ------ ------- ------ ------ ------ ------
<S> <C> <C> <C> <C> <C> <C>
4A-A1 74434T5E3 12,250,000.00 5.71666612 0.00000000 5.71666612 1000.00000000
4A-A2 74434T5E3 36,750,000.00 5.71666667 0.00000000 5.71666667 1000.00000000
Pass- Realized Unpaid
Through Accrued Interest Loss Interest Interest
Class Rate Interest Shortfall Interest Shortfall Payment
- ----- ---- -------- --------- -------- --------- -------
4A-A1 6.86000% 70,029.16 0.00 0.00 0.00 70,029.16
4A-A2 6.86000% 210,087.50 0.00 0.00 0.00 210,087.50
Total: 280,116.66 0.00 0.00 0.00 280,116.66
Ending
Beginning Principal Principal Extraordinary Principal Total
Class Balance Payment Loss Expenses Balance Payment
- ----- ------- ------- ---- -------- ------- -------
4A-A1 12,250,000.00 0.00 0.00 0.00 12,250,000.00 70,029.16
4A-A2 36,750,000.00 0.00 0.00 0.00 36,750,000.00 210,087.50
Total: 49,000,000.00 0.00 0.00 0.00 49,000,000.00 280,116.66
Interest Principal Total Ending
CUSIP Original Payment Payment Payment Balance
Class Number Balance Factor Factor Factor Factor
- ----- ------ ------- ------ ------ ------ ------
4B-A1 36157LX29 7,158,376.56 5.14187675 18.00977902 23.15165577 934.55491674
4B-A2 36157LX29 13,340,000.00 5.39792879 0.00000000 5.39792879 1000.00000000
4B-A3 36157LX29 22,080,000.00 5.39792889 0.00000000 5.39792889 1000.00000000
Pass- Realized Unpaid
Through Accrued Interest Loss Interest Interest
Class Rate Interest Shortfall Interest Shortfall Payment
- ----- ---- -------- --------- -------- --------- -------
4B-A1 6.48500% 36,850.02 42.53 0.00 0.00 36,807.49
4B-A2 6.48500% 72,091.58 83.21 0.00 0.00 72,008.37
4B-A3 6.48500% 119,324.00 137.73 0.00 0.00 119,186.27
Total: 228,265.60 263.47 0.00 0.00 228,002.13
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Ending
Beginning Principal Principal Extraordinary Principal Total
Class Balance Payment Loss Expenses Balance Payment
- ----- ------- ------- ---- -------- ------- -------
<S> <C> <C> <C> <C> <C> <C>
4B-A1 6,818,816.79 128,920.78 0.00 0.00 6,689,896.01 165,728.27
4B-A2 13,340,000.00 0.00 0.00 0.00 13,340,000.00 72,008.37
4B-A3 22,080,000.00 0.00 0.00 0.00 22,080,000.00 119,186.27
Total: 42,238,816.79 128,920.78 0.00 0.00 42,109,896.01 356,922.91
Interest Principal Total Ending
CUSIP Original Payment Payment Payment Balance
Class Number Balance Factor Factor Factor Factor
- ----- ------ ------- ------ ------ ------ ------
4C-A1 126690NM4 5,349,800.90 5.21563896 10.62951146 15.84515042 954.48502392
4C-A2 126690NM4 42,737,989.39 5.40416672 0.00000000 5.40416672 1000.00000000
Pass- Realized Unpaid
Through Accrued Interest Loss Interest Interest
Class Rate Interest Shortfall Interest Shortfall Payment
- ----- ---- -------- --------- -------- --------- -------
4C-A1 6.48500% 27,902.63 0.00 0.00 0.00 27,902.63
4C-A2 6.48500% 230,963.22 0.00 0.00 0.00 230,963.22
Total: 258,865.85 0.00 0.00 0.00 258,865.85
Ending
Beginning Principal Principal Extraordinary Principal Total
Class Balance Payment Loss Expenses Balance Payment
- ----- ------- ------- ---- -------- ------- -------
4C-A1 5,163,170.61 56,865.77 0.00 0.00 5,106,304.84 84,768.40
4C-A2 42,737,989.39 0.00 0.00 0.00 42,737,989.39 230,963.22
Total: 47,901,160.00 56,865.77 0.00 0.00 47,844,294.23 315,731.62
Interest Principal Total Ending
CUSIP Original Payment Payment Payment Balance
Class Number Balance Factor Factor Factor Factor
- ----- ------ ------- ------ ------ ------ ------
4D-A1 760944WM6 2,619,947.27 5.81412083 0.00000000 5.81412083 1000.00000000
4D-A2 760944WM6 13,418,956.18 5.81412138 0.00000000 5.81412138 1000.00000000
4D-A3 760944WM6 14,409,709.96 5.81412188 0.00000000 5.81412188 1000.00000000
4D-A4 760944WM6 3,047,638.66 5.81412102 0.00000000 5.81412102 1000.00000000
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Pass- Realized Unpaid
Through Accrued Interest Loss Interest Interest
Class Rate Interest Shortfall Interest Shortfall Payment
- ----- ---- -------- --------- -------- --------- -------
<S> <C> <C> <C> <C> <C>
4D-A1 6.98500% 15,250.28 17.59 0.00 0.00 15,232.69
4D-A2 6.98500% 78,109.51 90.07 0.00 0.00 78,019.44
4D-A3 6.98500% 83,876.52 96.71 0.00 0.00 83,779.81
4D-A4 6.98500% 17,739.80 20.46 0.00 0.00 17,719.34
Total: 194,976.11 224.83 0.00 0.00 194,751.28
Ending
Beginning Principal Principal Extraordinary Principal Total
Class Balance Payment Loss Expenses Balance Payment
- ----- ------- ------- ---- -------- ------- -------
4D-A1 2,619,947.27 0.00 0.00 0.00 2,619,947.27 15,232.69
4D-A2 13,418,956.18 0.00 0.00 0.00 13,418,956.18 78,019.44
4D-A3 14,409,709.96 0.00 0.00 0.00 14,409,709.96 83,779.81
4D-A4 3,047,638.66 0.00 0.00 0.00 3,047,638.66 17,719.34
Total: 33,496,252.07 0.00 0.00 0.00 33,496,252.07 194,751.28
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Certificate Information
Aggregate Certificate Principal Balance: 172,450,442.31
Trustee Fee: 2,157.95
Extraordinary Expenses: 0.00
Aggregate Realized Interest Losses: 0.00
Aggregate Realized Principal Losses: 0.00
</TABLE>
The Prudential Home Mortgage Securities Company, Inc.
Mortgage Pass-Through Certificates
Statements to Certificateholders
Record Date: 29-Nov-1996
Distribution Date: 26-Dec-1996
PHMSC Series 1994-8
Customer Service
Norwest Bank Minnesota, N.A.
Securities Administration Services
5325 Spectrum Drive
Frederick, MD 21703
Telephone:(301) 846-8130
Fax:(301) 846-8152
CERTIFICATE INFORMATION
<TABLE>
<CAPTION>
Certificate Original Ending Ending
Pass-Through Face Certificate Certificate
Class CUSIP Rate Amount Balance Percentage
- ----- ----- ---- ------ ------- ----------
<S> <C> <C> <C> <C> <C>
A-1 74434T5A1 4.75000 46,080,000.00 26,458,388.60 0.57418378
A-2 74434T5B9 6.58791 44,393,000.00 44,393,000.00 1.00000000
A-3 74434T5C7 6.75000 4,200,000.00 4,200,000.00 1.00000000
A-4 74434T5D5 7.14618 21,911,000.00 21,911,000.00 1.00000000
A-5 74434T5E3 6.87500 49,000,000.00 49,000,000.00 1.00000000
A-6 74434T5F0 7.25000 12,066,000.00 12,066,000.00 1.00000000
A-7 74434T5G8 5.93750 116,650,000.00 86,540,679.04 0.74188323
A-8 74434T5H6 3.06250 0.00 0.00 0.00000000
A-9 74434T5J2 7.30000 4,956,000.00 4,678,866.15 0.94408114
A-10 74434T5K9 6.68750 53,655,000.00 50,654,673.80 0.94408114
A-11 74434T5L7 9.93015 12,495,000.00 11,796,293.90 0.94408114
A-12 74434T5M5 5.93750 1,390,000.00 1,390,000.00 1.00000000
A-13 74434T5N3 9.00000 223,000.00 223,000.00 1.00000000
A-14 74434T5P8 6.88750 20,294,000.00 19,159,182.74 0.94408114
A-15 74434T5Q6 9.07132 4,726,000.00 4,461,727.49 0.94408114
A-16 74434T5R4 7.14618 22,472,000.00 21,833,656.76 0.97159384
A-17 74434T5S2 5.00000 9,293,000.00 8,835,345.03 0.95075272
A-18 74434UTL8 0.08349 0.00 0.00 0.00000000
A-R 74434T5T0 7.30000 1,000.00 944.08 0.94408000
A-LR 74434T5U7 7.30000 1,000.00 944.08 0.94408000
M 74434T5V5 7.30000 6,763,000.00 6,567,862.38 0.97114629
B PHM94008B 7.30000 20,288,728.46 19,703,323.42 0.97114629
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
PRINCIPAL DISTRIBUTION
Scheduled Unscheduled
Principal Principal Deferred Realized Principal
Class Distribution Distribution Accretion Interest Loss (1) Distribution
- ----- ------------ ------------ --------- -------- -------- ------------
<S> <C> <C> <C> <C> <C> <C>
A-1 148,255.55 666,428.75 0.00 0.00 0.00 814,684.30
A-2 0.00 0.00 0.00 0.00 0.00 0.00
A-3 0.00 0.00 0.00 0.00 0.00 0.00
A-4 0.00 0.00 0.00 0.00 0.00 0.00
A-5 0.00 0.00 0.00 0.00 0.00 0.00
A-6 0.00 0.00 0.00 0.00 0.00 0.00
A-7 222,383.33 999,643.12 0.00 0.00 0.00 1,222,026.45
A-8 0.00 0.00 0.00 0.00 0.00 0.00
A-9 0.00 0.00 0.00 0.00 0.00 0.00
A-10 0.00 0.00 0.00 0.00 0.00 0.00
A-11 0.00 0.00 0.00 0.00 0.00 0.00
A-12 0.00 0.00 0.00 0.00 0.00 0.00
A-13 0.00 0.00 0.00 0.00 0.00 0.00
A-14 0.00 0.00 0.00 0.00 0.00 0.00
A-15 0.00 0.00 0.00 0.00 0.00 0.00
A-16 0.00 0.00 0.00 0.00 0.00 0.00
A-17 0.00 0.00 0.00 0.00 0.00 0.00
A-18 0.00 0.00 0.00 0.00 0.00 0.00
A-R 0.00 0.00 0.00 0.00 0.00 0.00
A-LR 0.00 0.00 0.00 0.00 0.00 0.00
M 6,592.21 0.00 0.00 0.00 0.00 6,592.21
B 20,700.88 0.00 0.00 0.00 (924.50) 20,700.88
</TABLE>
- ----------
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses
Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement For A
Full Description.
<TABLE>
<CAPTION>
INTEREST DISTRIBUTION
Payment
Current Of Previously Current Non-Supported
Accrued Deferred Unpaid Interest Interest Interest
Class Interest Interest Shortfall Shortfall Shortfall
- ----- -------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
A-1 107,955.91 0.00 0.00 0.00 0.00
A-2 243,714.24 0.00 0.00 0.00 0.00
A-3 23,625.00 0.00 0.00 0.00 0.00
A-4 130,483.29 0.00 0.00 0.00 0.00
A-5 280,729.17 0.00 0.00 0.00 0.00
A-6 72,898.75 0.00 0.00 0.00 0.00
A-7 434,242.55 0.00 0.00 0.00 0.00
A-8 227,525.13 0.00 0.00 0.00 0.00
A-9 28,463.10 0.00 0.00 0.00 0.00
A-10 282,294.28 0.00 0.00 0.00 0.00
A-11 97,615.78 0.00 0.00 0.00 0.00
A-12 6,877.60 0.00 0.00 0.00 0.00
A-13 1,672.50 0.00 0.00 0.00 0.00
A-14 109,965.73 0.00 0.00 0.00 0.00
A-15 33,728.14 0.00 0.00 0.00 0.00
A-16 130,022.70 0.00 0.00 0.00 0.00
A-17 36,813.94 0.00 0.00 0.00 0.00
A-18 27,546.93 0.00 0.00 0.00 0.00
A-R 5.74 0.00 0.00 0.00 0.00
A-LR 5.74 0.00 0.00 0.00 0.00
M 39,994.60 0.00 0.00 0.00 0.00
B 119,982.19 0.00 0.00 0.00 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INTEREST DISTRIBUTION
Remaining Ending
Cumulative Unpaid Certificate/Notional Realized Interest
Class Interest Shortfall Balance Losses (2) Distribution
- ----- ------------------ ------- ---------- ------------
<S> <C> <C> <C> <C>
A-1 0.00 26,458,388.60 0.00 107,955.91
A-2 0.00 44,393,000.00 0.00 243,714.24
A-3 0.00 4,200,000.00 0.00 23,625.00
A-4 0.00 21,911,000.00 0.00 130,483.29
A-5 0.00 49,000,000.00 0.00 280,729.17
A-6 0.00 12,066,000.00 0.00 72,898.75
A-7 0.00 86,540,679.04 0.00 434,242.55
A-8 0.00 87,930,679.04 0.00 227,525.13
A-9 0.00 4,678,866.15 0.00 28,463.10
A-10 0.00 50,654,673.80 0.00 282,294.28
A-11 0.00 11,796,293.90 0.00 97,615.78
A-12 0.00 1,390,000.00 0.00 6,877.60
A-13 0.00 223,000.00 0.00 1,672.50
A-14 0.00 19,159,182.74 0.00 109,965.73
A-15 0.00 4,461,727.49 0.00 33,728.14
A-16 0.00 21,833,656.76 0.00 130,022.70
A-17 0.00 8,835,345.03 0.00 36,813.94
A-18 0.00 393,874,887.46 0.00 27,546.93
A-R 0.00 944.08 0.00 5.74
A-LR 0.00 944.08 0.00 5.74
M 0.00 6,567,862.38 0.00 39,994.60
B 0.00 19,703,323.42 0.00 119,982.19
</TABLE>
- ----------
(2) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses
Unless Otherwise Disclosed. Please Refer To The Prospectus Supplement
For A Full Description.
<TABLE>
<CAPTION>
PREPAYMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment Interest Shortfall 5,401.79
Servicing Fee Support 5,401.79
Non-Supported Prepayment Interest Shortfall 0.00
SERVICING FEES
Gross Servicing Fee 65,987.60
Supported Prepayment/Curtailment Interest Shortfall 5,401.79
Net Servicing Fees 60,585.81
SERVICER ADVANCES
Beginning Balance 0.00
Current Period Advances By Servicer 0.00
Reimbursement of Advances 0.00
Ending Cumulative Advances 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Current Unpaid
Number of Number Of Principal
Days Loans Balance
- ---- ----- -------
<S> <C> <C>
30 Days 7 1,691,001.25
60 Days 1 248,318.91
90+ Days 1 262,112.68
Foreclosure 2 325,247.08
REO 0 0.00
Totals 11 2,526,679.92
</TABLE>
<TABLE>
<CAPTION>
ADDITIONAL DELINQUENCY STATUS INFORMATION
<S> <C>
Principal Balance of Contaminated Properties 0.00
Periodic Advance 140,276.07
Current Period Realized Loss - Includes Interest Shortfall (924.50)
Cumulative Realized Losses - Includes Interest Shortfall 86,927.25
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
Collateral Description Fixed 30 Year
- ---------------------- -------------
<S> <C>
Weighted Average Gross Coupon 7.583491%
Weighted Average Pass-Through Rate 7.300000%
Weighted Average Maturity (Stepdown Calculation) 25 Months
Beginning Scheduled Collateral Loan Count 1,578
Number of Loans Paid in Full 8
Ending Scheduled Collateral Loan Count 1,570
Beginning Scheduled Collateral Balance 395,937,966.80
Ending Scheduled Collateral Balance 393,874,887.46
Ending Actual Collateral Balance at 29-Nov-1996 394,292,697.21
Monthly P&I Constant 2,894,371.48
Class AP Deferred Amount 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Loss Description Original $ Original % Current $ Current %
- ---------------- ---------- ---------- --------- ---------
<S> <C> <C> <C> <C>
Bankruptcy 148,000.00 0.03282632% 148,000.00 0.03757538%
Fraud 9,017,154.57 2.00000000% 4,149,761.18 1.05357343%
Special Hazard 6,464,898.70 1.43391103% 5,142,703.18 1.30566922%
</TABLE>
- ----------
Limit of Subordination's Exposure for 100% of Certain Types of Losses
<TABLE>
<CAPTION>
SUBORDINATION LEVEL
Class Original $ Original % Current $ Current %
- ----- ---------- ---------- --------- ---------
<S> <C> <C> <C> <C>
A 27,051,728.46 6.00005872% 26,271,185.80 6.66993166%
M 20,288,728.46 4.50002898% 19,703,323.42 5.00243200%
B 0.00 0.00000000% 0.00 0.00000000%
</TABLE>
- ----------
Please refer to the Prospectus Supplement For A Full Description Of Loss
Exposure
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
DECEMBER 1996
REMIC Multi-Class Pass-Through Certificates
Series 1994-1
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1994
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company")
and State Street Bank and Trust Company (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for
this month:
<TABLE>
<CAPTION>
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
<S> <C>
(a) Principal ...................$ 746,619.77
(b) Interest ....................$ 4,113,660.97
(c) Total .......................$ 4,860,280.74
2. Aggregate Monthly Payments Received and Monthly
Advances made this month:
(a) Principal ...................$ 746,619.77
(b) Interest ....................$ 3,969,053.31
(c) Total .......................$ 4,715,673.08
3. Aggregate Principal Prepayments in part received
and applied in prior month: ...........................$ 252,883.72
4. Aggregate Principal Prepayments in full received
in prior month:
(a) Principal ...................$ 3,538,183.89
(b) Interest ....................$ 14,223.77
(c) Total .......................$ 3,552,407.66
5. Aggregate Insurance Proceeds (including purchases of
Mortgage Loans by primary mortgage insurers) for prior
month:
(a) Principal ...................$ 0.00
(b) Interest ....................$ 0.00
(c) Total .......................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ...................$ 0.00
(b) Interest ....................$ 0.00
(c) Total .......................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified
Mortgage Loans:
(a) Principal ...................$ 0.00
(b) Interest ....................$ 0.00
(c) Total .......................$ 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
8. Aggregate Purchase Prices ( and substitution adjustments)
for Defective Mortgage Loans:
<S> <C>
(a) Principal ...................$ 0.00
(b) Interest ....................$ 0.00
(c) Total .......................$ 0.00
9. Pool Scheduled Principal Balance: ......................$ 680,310,274.77
10. Available Funds: .......................................$ 8,520,964.46
11. Realized Losses for prior month: ........................$ 0.00
12. Aggregate Realized Losses and Debt Service
Reductions:
(a) Deficient Valuations: .........................$ 0.00
(b) Bankruptcy Losses: ............................$ 0.00
(c) Special Hazard Losses: ........................$ 0.00
(d) Fraud Losses: .................................$ 0.00
(e) Excess Bankruptcy Losses: .....................$ 0.00
(f) Excess Special Hazard Losses: .................$ 0.00
(g) Excess Fraud Losses: ..........................$ 0.00
(h) Debt Service Reductions: .....................$ 0.00
13. Accrued Certificate Interest, Unpaid Class Interest
Shortfalls and Pay-out Rate:
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Class 1-A1....... $ 507,174.58 $ 0.00 5.68913984%
Class 1-A2....... $ 323,287.77 $ 0.00 6.48761556%
Class 1-A3....... $ 50,123.87 $ 0.00 6.48761639%
Class 1-A4....... $ 228,214.96 $ 0.00 6.48761554%
Class 1-A5....... $ 275,457.69 $ 0.00 6.48761555%
Class 1-A6....... $ 829,009.15 $ 0.00 6.48761563%
Class 1-A7....... $ 250,658.77 $ 0.00 6.48761562%
Class 1-A8....... $ 641,198.07 $ 0.00 6.48761548%
Class 1-A9....... $ 134,055.77 $ 0.00 6.48761591%
Class 1-A10...... $ 11,661.49 $ 0.00 6.48761613%
Class 1-A11...... $ 130,811.78 $ 0.00 6.48761541%
Class 1-A12...... $ 71,182.40 $ 0.00 6.48761587%
Class 1-M........ $ 93,938.34 $ 0.00 6.48761598%
Class 1-B1....... $ 73,063.15 $ 0.00 6.48761575%
Class 1-B2....... $ 41,750.37 $ 0.00 6.48761527%
Class 1-B3....... $ 18,787.67 $ 0.00 6.48761594%
Class 1-B4....... $ 6,262.54 $ 0.00 6.48759858%
Class 1-B5....... $ 15,886.88 $ 0.00 6.48761227%
Class 1-S........ $ 280,751.83 $ 0.00 0.49193721%
Class 1-R........ $ 0.00 $ 0.00 0.00000000%
Class 1-RL....... $ 0.00 $ 0.00 0.00000000%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
14. Accrual Amount................... 130,811.78
</TABLE>
<TABLE>
<CAPTION>
15 Principal distributable:
<S> <C> <C> <C>
Class 1-A1.... $ 3,234,403.93 Class 1-A11... $ 0.00
Class 1-A2.... $ 636,403.04 Class 1-M..... $ 18,942.81
Class 1-A3.... $ 0.00 Class 1-B1.... $ 14,733.29
Class 1-A4.... $ 385,558.28 Class 1-B2.... $ 8,419.03
Class 1-A5.... $ 202,514.64 Class 1-B3.... $ 3,788.56
Class 1-A6.... $ 0.00 Class 1-B4.... $ 1,262.85
Class 1-A7.... $ 159,269.11 Class 1-B5.... $ 3,203.62
Class 1-A8.... $ 0.00 Class 1-R..... $ 0.00
Class 1-A9.... $ 0.00 Class 1-RL.... $ 0.00
Class 1-A10... $ 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
16. Additional distributions to the Class 1-R Certificate
pursuant to Section 4.01(b): ...........................$ 0.00
17. Additional distributions to the Class 1-RL Certificate
pursuant to Section 2.05(d): ...........................$ 0.00
17. Certificate Interest Rate of Class 1-S Certificates....... 0.4926%
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ........... 93.256252%
2. Senior Prepayment Percentage for such Distribution Date . 100.000000%
3. Junior Percentage for such Distribution Date: ........... 6.743748%
4. Junior Prepayment Percentage for such Distribution Date: 0.000000%
5. Subordinate Certificate Writedown Amount for such
Distribution Date: .....................................$ 0.00
6. Prepayment Distribution Triggers satisfied:
YES NO
Class 1-B1....... X
Class 1-B2....... X
Class 1-B3....... X
Class 1-B4....... X
Class 1-B5....... X
</TABLE>
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By:
--------------------------------
Karen Pickett
Vice-President,
Investor Operations
<PAGE>
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
DECEMBER 1996
REMIC Multi-Class Pass-Through Certificates
Series 1994-1
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1994
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below are for a Single Certificate of $1,000.
<TABLE>
<CAPTION>
i) The amount of such distribution allocable to principal:
<S> <C> <C> <C>
Class 1-A1.... $ 17.14045538 Class 1-A11... $ 0.00000000
Class 1-A2.... $ 8.25832499 Class 1-M..... $ 1.05334929
Class 1-A3.... $ 0.00000000 Class 1-B1.... $ 1.05334882
Class 1-A4.... $ 7.62500307 Class 1-B2.... $ 1.05334968
Class 1-A5.... $ 3.65959449 Class 1-B3.... $ 1.05334861
Class 1-A6.... $ 0.00000000 Class 1-B4.... $ 1.05334583
Class 1-A7.... $ 3.16085397 Class 1-B5.... $ 1.00179585
Class 1-A8.... $ 0.00000000 Class 1-R..... $ 0.00000000
Class 1-A9.... $ 0.00000000 Class 1-RL.... $ 0.00000000
Class 1-A10... $ 0.00000000
</TABLE>
Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage Loans
and Defective Mortgage Loans purchased pursuant to Section 2.02, 2.03 (b)
or 3.16, respectively, and any amounts deposited pursuant to Section
2.03(b) in connection with the substitution of any Mortgage Loans pursuant
to Section 2.02 or 2.03(a), the proceeds of which are being distributed on
such Distribution Date);
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Class 1-A1.... 14.48088745 Class 1-A11... 0.00000000
Class 1-A2.... 6.97693684 Class 1-M..... 0.00000000
Class 1-A4.... 0.00000000 Class 1-B1.... 0.00000000
Class 1-A3.... 6.44188318 Class 1-B2.... 0.00000000
Class 1-A5.... 3.09176009 Class 1-B3.... 0.00000000
Class 1-A6.... 0.00000000 Class 1-B4.... 0.00000000
Class 1-A7.... 2.67040575 Class 1-B5.... 0.00000000
Class 1-A8.... 0.00000000 Class 1-R..... 0.00000000
Class 1-A9.... 0.00000000 Class 1-RL.... 0.00000000
Class 1-A10... 0.00000000
</TABLE>
ii) The amount of such distribution to the Certificateholders
of each class, allocable to Interest:
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Class 1-A1.... 2.68772962 Class 1-A12... 3.06495495
Class 1-A2.... 4.19516454 Class 1-M..... 5.22361168
Class 1-A3.... 4.90736930 Class 1-B1.... 5.22361148
Class 1-A4.... 4.51329892 Class 1-B2.... 5.22361111
Class 1-A5.... 4.97773122 Class 1-B3.... 5.22361165
Class 1-A6.... 5.40634635 Class 1-B4.... 5.22359775
Class 1-A7.... 4.97457272 Class 1-B5.... 4.96794577
Class 1-A8.... 5.40634624 Class 1-S..... 0.35126357
Class 1-A9.... 5.40634659 Class 1-R..... 0.00000000
Class 1-A10... 5.40634678 Class 1-RL.... 0.00000000
Class 1-A11... 6.49415579
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
iii) The amount of servicing compensation received by GECMSI
during the month preceding the month of distribution...... 0.18243384
(b) The amounts below are for the aggregate of all Certificates.
iv) The Pool Scheduled Principal Balances of each Mortgage Pool
on the preceding Due Date after giving effect to all distributions
allocable to principal made on such Distribution Date .....$ 680,310,274.77
The aggregate number of loans included in the Pool Scheduled
Principal Balances ......................................... 2,456
v) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to all distributions allocable to principal
made on such Distribution Date and the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
</TABLE>
<TABLE>
<CAPTION>
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
<S> <C> <C>
Class 1-A1...............................$ 103,743,014.94 549.78
Class 1-A2...............................$ 59,161,425.71 767.71
Class 1-A3...............................$ 9,271,300.95 907.71
Class 1-A4...............................$ 41,826,861.73 827.19
Class 1-A5...............................$ 50,748,289.31 917.06
Class 1-A6...............................$ 153,340,000.00 1,000.00
Class 1-A7...............................$ 46,204,532.55 916.97
Class 1-A8...............................$ 118,601,000.00 1,000.00
Class 1-A9...............................$ 24,796,000.00 1,000.00
Class 1-A10..............................$ 2,157,000.00 1,000.00
Class 1-A11..............................$ 24,326,779.96 1,207.70
Class 1-A12..............................$ 12,768,371.07 549.78
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 1-M................................$ 17,356,624.47 965.15
Class 1-B1...............................$ 13,499,596.69 965.15
Class 1-B2...............................$ 7,714,055.55 965.15
Class 1-B3...............................$ 3,471,325.29 965.15
Class 1-B4...............................$ 1,157,108.45 965.15
Class 1-B5...............................$ 2,935,359.17 917.91
Class 1-S................................$ 680,310,274.77 851.17
Class 1-R................................$ 0.00 0.00
Class 1-RL...............................$ 0.00 0.00
</TABLE>
vi) The Pay-out Rate applicable to each class of Certificates:
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Class 1-A1.... 5.68913984% Class 1-A12... 6.48761587%
Class 1-A2.... 6.48761556% Class 1-M..... 6.48761598%
Class 1-A3.... 6.48761639% Class 1-B1.... 6.48761575%
Class 1-A4.... 6.48761554% Class 1-B2.... 6.48761527%
Class 1-A5.... 6.48761555% Class 1-B3.... 6.48761594%
Class 1-A6.... 6.48761563% Class 1-B4.... 6.48759858%
Class 1-A7.... 6.48761562% Class 1-B5.... 6.48761227%
Class 1-A8.... 6.48761548% Class 1-S..... 0.49193721%
Class 1-A9.... 6.48761591% Class 1-R..... 0.00000000%
Class 1-A10... 6.48761613% Class 1-RL.... 0.00000000%
Class 1-A11... 6.48761541%
</TABLE>
<PAGE>
vii) The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu
of foreclosure or otherwise, of any REO Mortgage Loan:
<TABLE>
<CAPTION>
<S> <C>
book value............................................$ 791,943.35
unpaid principal balance..............................$ 683,749.42
number of related mortgage loans...................... 3
viii) The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were;
(a) delinquent
(1) 30-59 days
Number 2 Principal Balance $ 6,997,551.95
(2) 60-89 days
Number 4 Principal Balance $ 826,675.34
(3) 90 days or more
Number 2 Principal Balance $ 451,895.10
(b) in foreclosure
Number 9 Principal Balance $ 2,764,555.08
E-609
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
ix) The Scheduled Principal Balance of any Mortgage Loan
replaced pursuant to Section 2.03(b), and of any Modified
Mortgage Loan purchased pursuant to Section 3.01(c); ...........$ 0.00
x) Certificate Interest Rate of the Class 1-S Certificates Applicable
to the Interest Accrual Period for such Distribution Date;....... 0.4926%
xi) The Senior Percentage for such Distribution Date; ................. 93.256252%
The Junior Percentage for such Distribution Date; ................ 6.743748%
xii) The Senior Prepayment Percentage for such Distribution Date; ...... 100.000000%
The Junior Prepayment Percentage for such Distribution Date; ..... 0.000000%
</TABLE>
The Bank of New York
Corporate Trust / MBS Group
Issuer :CWMBS INC
Series 1993-E
<TABLE>
<CAPTION>
NET
CURRENT INTEREST INTEREST DEFERRED PREPAY INT
CUSIP(1) CLASS FACTOR FACTOR AMOUNT INTEREST SHORTFALL
- -------- ----- ------ ------ ------ -------- ---------
<S> <C> <C> <C> <C> <C> <C>
126690NE2 A1 0.4848246 2.70992682 197,011.68 0.00 0.00
126690NF9 A2 1.0000000 5.41666667 42,753.75 0.00 0.00
126690NG7 A3 1.0000000 5.41666679 143,444.17 0.00 0.00
126690NH5 A4 1.0000000 5.41666699 56,262.92 0.00 0.00
126690NJ1 A5 0.9886116 5.35497954 53,662.25 0.00 0.00
126690NK8 A6 1.0000000 5.41666667 133,835.00 0.00 0.00
126690NL6 A7 1.0000000 5.41666667 5,622.50 0.00 0.00
126690NM4 A8 0.9568858 5.18929248 269,469.58 0.00 0.00
A8-1 0.7294641 3.99526685 29,045.59 0.00 0.00
A8-2 0.9939085 5.38367101 240,423.98 0.00 0.00
126690NN2 A9 0.9548825 4.77441296 227,438.71 0.00 0.00
126690NP7 A10 0.9548825 6.20637232 113,719.36 0.00 0.00
126690NQ5 A11 1.0000000 0.54166667 113,636.25 0.00 0.00
126690NR3 PO 0.8307448 0.00000000 0.00 0.00 0.00
126690NS1 AR 0.8535200 10.16000000 10.16 0.00 0.00
126690NT9 B1 0.9665516 5.24118791 40,787.70 0.00 0.00
126690NU6 B2 0.9665516 5.24118798 16,314.88 0.00 0.00
126690NV4 B3 0.9665516 5.24118742 12,236.16 0.00 0.00
126690NX0 B4 0.9665516 5.24118708 14,683.39 0.00 0.00
126690NY8 B5 0.9665516 5.24119150 5,710.21 0.00 0.00
126690NZ5 B6 0.9665516 5.24118426 4,486.59 0.00 0.00
126690PA8 B7 0.8745389 4.74223774 3,321.39 0.00 0.00
CURRENT CUMMULATIVE
UNPAID UNPAID RECORD PRIOR
CUSIP(1) CLASS INTEREST INTEREST PAYDATE DATE FACTOR
- -------- ----- -------- -------- ------- ---- ------
126690NE2 A1 0.00 0.00 12/26/96 12/1/96 0.50029418
126690NF9 A2 0.00 0.00 12/26/96 12/1/96 1.00000000
126690NG7 A3 0.00 0.00 12/26/96 12/1/96 1.00000000
126690NH5 A4 0.00 0.00 12/26/96 12/1/96 1.00000000
126690NJ1 A5 0.00 0.00 12/26/96 12/1/96 0.98861164
126690NK8 A6 0.00 0.00 12/26/96 12/1/96 1.00000000
126690NL6 A7 0.00 0.00 12/26/96 12/1/96 1.00000000
126690NM4 A8 0.00 0.00 12/26/96 12/1/96 0.95802321
A8-1 0.00 0.00 12/26/96 12/1/96 0.73758776
A8-2 0.00 0.00 12/26/96 12/1/96 0.99390851
126690NN2 A9 0.00 0.00 12/26/96 12/1/96 0.95488257
126690NP7 A10 0.00 0.00 12/26/96 12/1/96 0.95488257
126690NQ5 A11 0.00 0.00 12/26/96 12/1/96 1.00000000
126690NR3 PO 0.00 0.00 12/26/96 12/1/96 0.83216431
126690NS1 AR 0.00 0.00 12/26/96 12/1/96 0.85757000
126690NT9 B1 0.00 0.00 12/26/96 12/1/96 0.96760385
126690NU6 B2 0.00 0.00 12/26/96 12/1/96 0.96760385
126690NV4 B3 0.00 0.00 12/26/96 12/1/96 0.96760384
126690NX0 B4 0.00 0.00 12/26/96 12/1/96 0.96760386
126690NY8 B5 0.00 0.00 12/26/96 12/1/96 0.96760386
126690NZ5 B6 0.00 0.00 12/26/96 12/1/96 0.96760383
126690PA8 B7 0.00 0.00 12/26/96 12/1/96 0.87549096
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
RATE ORIGINAL CURRENT PRINCIPAL PAY
CUSIP(1) CLASS TYPE RATE BALANCE BALANCE FACTOR
- -------- ----- ---- ---- ------- ------- ------
<S> <C> <C> <C> <C> <C> <C>
126690NE2 A1 FIX 6.500000% 72,700,000.00 35,246,748.56 15.46957467
126690NF9 A2 FIX 6.500000% 7,893,000.00 7,893,000.00 0.00000000
126690NG7 A3 FIX 6.500000% 26,482,000.00 26,482,000.00 0.00000000
126690NH5 A4 FIX 6.500000% 10,387,000.00 10,387,000.00 0.00000000
126690NJ1 A5 FIX 6.500000% 10,021,000.00 9,906,877.24 0.00000000
126690NK8 A6 FIX 6.500000% 24,708,000.00 24,708,000.00 0.00000000
126690NL6 A7 FIX 6.500000% 1,038,000.00 1,038,000.00 0.00000000
126690NM4 A8 FIX 6.500000% 51,928,000.00 49,689,170.74 1.13731532
A8-1 FIX 6.500000% 7,270,000.00 5,303,204.51 8.12359147
A8-2 FIX 6.500000% 44,658,000.00 44,385,966.23 0.00000000
126690NN2 A9 VAR 6.000000% 47,637,000.00 45,487,741.02 0.00000000
126690NP7 A10 VAR 7.799542% 18,323,000.00 17,496,313.34 0.00000000
126690NQ5 A11 FIX 6.500000% 20,979,000.00 20,979,000.00 0.00000000
126690NR3 PO PO 0.000000% 508,112.00 422,111.42 1.41947051
126690NS1 AR FIX 6.500000% 1,000.00 853.52 4.05000000
126690NT9 B1 FIX 6.500000% 7,782,148.00 7,521,847.83 1.05222178
126690NU6 B2 FIX 6.500000% 3,112,821.00 3,008,702.22 1.05222179
126690NV4 B3 FIX 6.500000% 2,334,616.00 2,256,526.88 1.05222177
126690NX0 B4 FIX 6.500000% 2,801,539.00 2,707,832.11 1.05222179
126690NY8 B5 FIX 6.500000% 1,089,487.00 1,053,045.45 1.05222180
126690NZ5 B6 FIX 6.500000% 856,026.00 827,393.31 1.05222177
126690PA8 B7 FIX 6.500000% 700,384.54 612,513.53 0.95205352
TOTAL CLASS CURRENT CUMMULATIVE
PRINCIPAL DISTRIBUTION PRINCIPAL PRINCIPAL
CUSIP(1) CLASS AMOUNT AMOUNT LOSS LOSS
- ------- ----- ------ ------ ---- ----
126690NE2 A1
126690NF9 A2 1,124,638.0 1,321,649.76 0.00 0.00
126690NG7 A3 0.00 42,753.75 0.00 0.00
126690NH5 A4 0.00 143,444.17 0.00 0.00
126690NJ1 A5 0.00 56,262.92 0.00 0.00
126690NK8 A6 0.00 53,662.25 0.00 0.00
126690NL6 A7 0.00 133,835.00 0.00 0.00
126690NM4 A8 0.00 5,622.50 0.00 0.00
A8-1 59,058.51 328,528.09 0.00 0.00
A8-2 59,058.51 88,104.10 0.00 0.00
126690NN2 A9 0.00 240,423.98 0.00 0.00
126690NP7 A10 0.00 227,438.71 0.00 0.00
126690NQ5 A11 0.00 113,719.36 0.00 0.00
126690NR3 PO 0.00 113,636.25 0.00 0.00
126690NS1 AR 721.25 721.25 0.00 0.00
126690NT9 B1 4.05 14.21 0.00 0.00
126690NU6 B2 8,188.55 48,976.25 0.00 0.00
126690NV4 B3 3,275.38 19,590.26 0.00 0.00
126690NX0 B4 2,456.53 14,692.69 0.00 0.00
126690NY8 B5 2,947.84 17,631.23 0.00 0.00
126690NZ5 B6 1,146.38 6,856.59 0.00 0.00
126690PA8 B7 900.73 5,387.32 0.00 0.00
666.80 3,988.19 0.00 0.00
</TABLE>
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (COMPANY)
CONDUIT MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1993-S34 (POOL # 4127)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
PRINCIPAL CURRENT
ORIGINAL BALANCE BEFORE PASS-THROUGH PRINCIPAL INTEREST
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION DISTRIBUTION
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 760944VR6 59,151,000.00 35,089,761.92 5.4000 % 686,211.21 157,722.25
A-2 760944VT2 18,171,000.00 18,171,000.00 6.4500 % 0.00 97,556.76
A-3 760944WL8 4,309,000.00 4,309,000.00 7.0000 % 0.00 25,106.91
A-4 760944WM6 34,777,700.00 33,496,926.28 7.0000 % 0.00 195,173.92
A-5 760944WN4 491,000.00 448,220.39 7.0000 % 0.00 2,611.61
A-6 760944VS4 29,197,500.00 26,829,850.30 6.0000 % 0.00 133,994.90
A-7 760944WW4 9,732,500.00 8,943,283.44 10.0000 % 0.00 74,441.61
A-8 760944WX2 20,191,500.00 17,081,606.39 5.9840 % 0.00 85,082.27
A-9 760944WY0 8,653,500.00 7,320,688.44 9.3707 % 0.00 57,100.68
A-10 760944WU8 8,704,536.00 8,704,536.00 6.6875 % 0.00 48,453.84
A-11 760944WV6 3,108,764.00 3,108,764.00 7.8750 % 0.00 20,377.79
A-12 760944WH7 4,096,000.00 0.00 7.0000 % 0.00 0.00
A-13 760944WJ3 0.00 0.00 7.0000 % 0.00 55,051.31
A-14 760944WK0 0.00 0.00 0.1523 % 0.00 22,329.23
R-I 760944WS3 100.00 0.00 7.0000 % 0.00 0.00
R-II 760944WT1 100.00 0.00 7.0000 % 0.00 0.00
M-1 760944WP9 5,348,941.00 5,162,041.50 7.0000 % 5,509.09 30,077.26
M-2 760944WQ7 3,209,348.00 3,097,208.88 7.0000 % 3,305.44 18,046.26
M-3 760944WR5 2,139,566.00 2,064,806.56 7.0000 % 2,203.63 12,030.84
B-1 1,390,718.00 1,342,124.36 7.0000 % 1,432.36 7,820.05
B-2 320,935.00 309,721.10 7.0000 % 330.54 1,804.63
B-3 962,805.06 668,228.92 7.0000 % 713.15 3,893.51
- -----------------------------------------------------------------------------------------------
213,956,513.06 176,147,768.48 699,705.42 1,048,675.63
===============================================================================================
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------
REMAINING
TOTAL *DEFERRED PRINCIPAL INTEREST PRINCIPAL
CLASS DISTRIBUTION INTEREST LOSS LOSS BALANCE
- -------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-1 843,933.46 0.00 0.00 0.00 34,403,550.71
A-2 97,556.76 0.00 0.00 0.00 18,171,000.00
A-3 25,106.91 0.00 0.00 0.00 4,309,000.00
A-4 195,173.92 0.00 0.00 0.00 33,496,926.28
A-5 2,611.61 0.00 0.00 0.00 448,220.39
A-6 133,994.90 0.00 0.00 0.00 26,829,850.30
A-7 74,441.61 0.00 0.00 0.00 8,943,283.44
A-8 85,082.27 0.00 0.00 0.00 17,081,606.39
A-9 57,100.68 0.00 0.00 0.00 7,320,688.44
A-10 48,453.84 0.00 0.00 0.00 8,704,536.00
A-11 20,377.79 0.00 0.00 0.00 3,108,764.00
A-12 0.00 0.00 0.00 0.00 0.00
A-13 55,051.31 0.00 0.00 0.00 0.00
A-14 22,329.23 0.00 0.00 0.00 0.00
R-I 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00
M-1 35,586.35 0.00 0.00 0.00 5,156,532.41
M-2 21,351.70 0.00 0.00 0.00 3,093,903.44
M-3 14,234.47 0.00 0.00 0.00 2,062,602.93
B-1 9,252.41 0.00 0.00 0.00 1,340,692.00
B-2 2,135.17 0.00 0.00 0.00 309,390.56
B-3 4,606.66 0.00 0.00 0.00 667,515.77
SUBSEQUENT
RECOVERY FUNDS
TO B-3 587.51
- ---------------------------------------------------------------------------
1,748,968.56 0.00 0.00 0.00 175,448,063.06
===========================================================================
</TABLE>
<PAGE>
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (COMPANY)
CONDUIT MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1993-S34 (POOL # 4127)
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY
<TABLE>
<CAPTION>
===========================================================================================================
AMOUNTS PER $1,000 UNIT
- -----------------------------------------------------------------------------------------------------------
PRINCIPAL PREPAYMENT PRINCIPAL
BALANCE BEFORE PRINCIPAL INTEREST INTEREST TOTAL DEFERRED BALANCE AFTER
CLASS DISTRIBUTION DISTRIBUTION DISTRIBUTION SHORTFALL DISTRIBUTION INTEREST DISTRIBUTION
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 593.223478 11.601008 2.666434 0.003071 14.267442 0.000000 581.622470
A-2 1,000.000000 0.000000 5.368816 0.006184 5.368816 0.000000 1,000.000000
A-3 1,000.000000 0.000000 5.826621 0.006712 5.826621 0.000000 1,000.000000
A-4 963.172558 0.000000 5.612042 0.006464 5.612042 0.000000 963.172558
A-5 912.872485 0.000000 5.318961 0.006130 5.318961 0.000000 912.872485
A-6 918.909163 0.000000 4.589259 0.005286 4.589259 0.000000 918.909164
A-7 918.909164 0.000000 7.648765 0.008811 7.648765 0.000000 918.909164
A-8 845.980060 0.000000 4.213767 0.004854 4.213767 0.000000 845.980060
A-9 845.980059 0.000000 6.598565 0.007600 6.598565 0.000000 845.980059
A-10 1,000.000000 0.000000 5.566505 0.006412 5.566505 0.000000 1,000.000000
A-11 1,000.000000 0.000000 6.554949 0.007550 6.554949 0.000000 1,000.000000
A-12 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
R-I 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
R-II 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 965.058598 1.029940 5.623031 0.006478 6.652971 0.000000 964.028657
M-2 965.058598 1.029941 5.623030 0.006478 6.652971 0.000000 964.028656
M-3 965.058596 1.029943 5.623028 0.006478 6.652971 0.000000 964.028654
B-1 965.058596 1.029943 5.623031 0.006479 6.652974 0.000000 964.028653
B-2 965.058657 1.029928 5.623039 0.006481 6.652967 0.000000 964.028729
B-3 694.043839 0.740690 4.043934 0.004653 4.784624 0.000000 693.303139
</TABLE>
SUBSEQUENT RECOVERY FUNDS TO B-3 0.610207
* DEFERRED INTEREST - INCLUDES NON-CASH ALLOCATIONS
- ---------------------------------------------------------
DETERMINATION DATE : 20-December-96
DISTRIBUTION DATE : 26-December-96
<PAGE>
MASTER SERVICER:
RESIDENTIAL FUNDING CORPORATION
INVESTOR REPORTING DEPARTMENT
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
RESIDENTIAL FUNDING CORPORATION (MASTER SERVICER)
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (COMPANY)
CONDUIT MORTGAGE PASS-THROUGH CERTIFICATES 1993-S34 (POOL # 4127)
STATEMENT TO CERTIFICATEHOLDERS
ADDITIONAL RELATED INFORMATION
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------
<S> <C>
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 37,970.46
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 18,578.27
SUBSERVICER ADVANCES THIS MONTH 13,926.52
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 3 783,840.21
(B) TWO MONTHLY PAYMENTS: 4 967,809.12
(C) THREE OR MORE MONTHLY PAYMENTS: 0 0.00
FORECLOSURES
NUMBER OF LOANS 1
AGGREGATE PRINCIPAL BALANCE 225,909.54
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 175,448,063.06
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 595
NUMBER OF REO LOANS ACQUIRED
INCLUDING ANY PENDING CASH LIQUIDATIONS 0
BOOK VALUE OF REAL ESTATE ACQUIRED THROUGH
FORECLOSURE OR GRANT OF A DEED IN LIEU OF
FORECLOSURE, INCLUDING ANY PENDING CASH LIQUIDATIONS 0.00
TOTAL PREPAYMENTS INCLUDED IN THIS DISTRIBUTION 511,715.04
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
PERCENTAGE FOR CURRENT DISTRIBUTION 92.82186120 %
5.86102100 %
1.31711780 %
SENIOR ACCELERATED DISTRIBUTION PERCENTAGE 100.00000000 %
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ACCUMULATED PREPAYMENT ENDING
UNPAID INTEREST DISTRIBUTION % PERCENTAGES
--------------- -------------- -----------
<S> <C> <C> <C>
SENIOR 0.00 N/A 92.80092530 %
CLASS M-1 0.00 0.0000000 2.93906488 %
CLASS M-2 0.00 0.0000000 1.76342981 %
CLASS M-3 0.00 0.0000000 1.17562023 %
CLASS B-1 0.00 0.0000000 0.76415321 %
CLASS B-2 0.00 0.0000000 0.17634310 %
CLASS B-3 NOT TO BE REPAID 0.0000000 0.38046346 %
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 13,494.21
CLASS A-14
- STRIP PASS-THROUGH FOR NEXT DISTRIBUTION 0.1524 %
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 1,772,076.00
SPECIAL HAZARD AMOUNT AVAILABLE 2,047,327.00
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 7.53623711 %
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 311.23
POOL TRADING FACTOR: 82.00173977 %
INDEX USED FOR THIS DISTRIBUTION:
11TH DISTRICT COST OF FUNDS: 4.8340 %
LIBOR: 5.4375 %
</TABLE>
<TABLE>
<CAPTION>
Component1 Component1
Original Beginning Ending Beginning Ending
Series Class Balance Balance Balance Balance Balance
- ------ ----- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C>
1993-S34 A-1 59,151,000.00 35,089,761.92 34,403,550.71 0.00 0.00
1993-S34 A-2 18,171,000.00 18,171,000.00 18,171,000.00 0.00 0.00
1993-S34 A-3 4,309,000.00 4,309,000.00 4,309,000.00 0.00 0.00
1993-S34 A-4 34,777,700.00 33,496,926.28 33,496,926.28 2,620,000.00 2,620,000.00
1993-S34 A-5 491,000.00 448,220.39 448,220.39 0.00 0.00
1993-S34 A-6 29,197,500.00 26,829,850.30 26,829,850.30 0.00 0.00
1993-S34 A-7 9,732,500.00 8,943,283.44 8,943,283.44 0.00 0.00
1993-S34 A-8 20,191,500.00 17,081,606.39 17,081,606.39 0.00 0.00
1993-S34 A-9 8,653,500.00 7,320,688.44 7,320,688.44 0.00 0.00
1993-S34 A-10 8,704,536.00 8,704,536.00 8,704,536.00 0.00 0.00
1993-S34 A-11 3,108,764.00 3,108,764.00 3,108,764.00 0.00 0.00
1993-S34 A-12 4,096,000.00 0.00 0.00 0.00 0.00
1993-S34 A-13 0.00 0.00 0.00 0.00 0.00
1993-S34 A-14 0.00 0.00 0.00 0.00 0.00
1993-S34 R-I 100.00 0.00 0.00 0.00 0.00
1993-S34 R-II 100.00 0.00 0.00 0.00 0.00
1993-S34 M-1 5,348,941.00 5,162,041.50 5,156,532.41 0.00 0.00
1993-S34 M-2 3,209,348.00 3,097,208.88 3,093,903.44 0.00 0.00
1993-S34 M-3 2,139,566.00 2,064,806.56 2,062,602.93 0.00 0.00
1993-S34 B-1 1,390,718.00 1,342,124.36 1,340,692.00 0.00 0.00
1993-S34 B-2 320,935.00 309,721.10 309,390.56 0.00 0.00
1993-S34 B-3 962,805.06 668,228.92 667,515.77 0.00 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Component2 Component2 Component3 Component3 Component4 Component4
Beginning Ending Beginning Ending Beginning Ending
Series Class Balance Balance Balance Balance Balance Balance
- ------ ----- ------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C>
1993-S34 A-1 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-2 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-3 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-4 13,419,226.28 13,419,226.28 14,410,000.00 14,410,000.00 3,047,700.00 3,047,700.00
1993-S34 A-5 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-6 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-7 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-8 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-9 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-10 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-11 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-12 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-13 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 A-14 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 R-I 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 R-II 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 M-1 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 M-2 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 M-3 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 B-1 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 B-2 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 B-3 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
