<PAGE> 1
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): October 29, 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
<PAGE> 2
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 10/29/96
20.2 Prudential Home Mortgage Securities Company, Inc. Mortgage
Pass-Through Certificates, Series 1994-8, Statement to
Certificateholders dated 10/25/96
20.3 GE Capital Mortgage Services, Inc. REMIC Multi-Class
Pass-Through Certificates, Series 1994-11, Statement to
Certificateholders dated 10/25/96
20.4 CWMBS, Inc., Mortgage Pass-Through Certificates, Series
1993-5, Statement to Certificateholders dated 10/25/96
20.5 Residential Funding Mortgage Securities I, Inc., Mortgage
Pass-Through Certificates, Series 1993-S34, Statement to
Certificateholders dated 10/25/96
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
<PAGE> 3
INDEX TO EXHIBITS
Exhibit Description
- ------- ---------------------------------------------------------------------
20.1 Salomon Brothers Mortgage Securities VII, Inc. Trust Certificates,
Series 1996-4, Statement to Certificateholders dated 10/29/96
20.2 Prudential Home Mortgage Securities Company, Inc. Mortgage Pass-
Through Certificates, Series 1994-8, Statement to Certificateholders
dated 10/25/96
20.3 GE Capital Mortgage Services, Inc. REMIC Multi-Class Pass-Through
Certificates, Series 1994-11, Statement to Certificateholders dated
10/25/96
20.4 CWMBS, Inc., Mortgage Pass-Through Certificates, Series 1993-5,
Statement to Certificateholders dated 10/25/96
20.5 Residential Funding Mortgage Securities I, Inc., Mortgage Pass-
Through Certificates, Series 1993-S34, Statement to Certificateholders
dated 10/25/96
<PAGE> 1
EXHIBIT 20.1
Page 1
Salomon Brothers Mortgage Securities VII, Inc.
Trust Certificates
Series 1996-4
OCTOBER DISTRIBUTION REPORT
Payment Date: 10/29/96
<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
<CAPTION>
Pass- Realized Unpaid
Through Accrued Interest Loss Interest Interest
Class Rate Interest Shortfall Interest Shortfall Payment
<S> <C> <C> <C> <C> <C> <C>
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
<CAPTION>
Beginning Principal Principal Extraordinary Principal Total
Class Balance Payment Loss Expenses Balance Payment
<S> <C> <C> <C> <C> <C> <C>
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
</TABLE>
<PAGE> 2
Page 2
Salomon Brothers Mortgage Securities VII, Inc.
Trust Certificates
Series 1996-4
OCTOBER DISTRIBUTION REPORT
Payment Date: 10/29/96
<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>
4B-A1 36157LX29 7,158,376.56 5.38672975 23.75928516 29.14601492 976.24071484
4B-A2 36157LX29 13,340,000.00 5.38673013 0.00000000 5.38673013 1000.00000000
4B-A3 36157LX29 22,080,000.00 5.38673007 0.00000000 5.38673007 1000.00000000
<CAPTION>
Pass- Realized Unpaid
Through Accrued Interest Loss Interest Interest
Class Rate Interest Shortfall Interest Shortfall Payment
<S> <C> <C> <C> <C> <C> <C>
4B-A1 6.48500% 38,685.06 124.82 0.00 0.00 38,560.24
4B-A2 6.48500% 72,091.58 232.60 0.00 0.00 71,858.98
4B-A3 6.48500% 119,324.00 385.00 0.00 0.00 118,939.00
Total: 230,100.64 742.42 0.00 0.00 229,358.22
<CAPTION>
Ending
Beginning Principal Principal Extraordinary Principal Total
Class Balance Payment Loss Expenses Balance Payment
<S> <C> <C> <C> <C> <C> <C>
4B-A1 7,158,376.56 170,077.91 0.00 0.00 6,988,298.65 208,638.15
4B-A2 13,340,000.00 0.00 0.00 0.00 13,340,000.00 71,858.98
4B-A3 22,080,000.00 0.00 0.00 0.00 22,080,000.00 118,939.00
Total: 42,578,376.56 170,077.91 0.00 0.00 42,408,298.65 399,436.13
</TABLE>
<PAGE> 3
Page 3
Salomon Brothers Mortgage Securities VII, Inc.
Trust Certificates
Series 1996-4
OCTOBER DISTRIBUTION REPORT
Payment Date: 10/29/96
<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>
4C-A1 126690NM4 5,349,800.90 5.40416747 19.56567954 24.96984701 980.43432046
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% 28,911.22 0.00 0.00 0.00 28,911.22
4C-A2 6.48500% 230,963.22 0.00 0.00 0.00 230,963.22
Total: 259,874.44 0.00 0.00 0.00 259,874.44
Ending
Beginning Principal Principal Extraordinary Principal Total
Class Balance Payment Loss Expenses Balance Payment
4C-A1 5,349,800.90 104,672.49 0.00 0.00 5,245,128.41 133,583.71
4C-A2 42,737,989.39 0.00 0.00 0.00 42,737,989.39 230,963.22
Total: 48,087,790.29 104,672.49 0.00 0.00 47,983,117.80 364,546.93
</TABLE>
<PAGE> 4
Page 4
Salomon Brothers Mortgage Securities VII, Inc.
Trust Certificates
Series 1996-4
OCTOBER DISTRIBUTION REPORT
Payment Date: 10/29/96
<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>
4D-A1 760944WM6 2,619,947.27 5.80897569 0.00000000 5.80897569 1000.00000000
4D-A2 760944WM6 13,418,956.18 5.80897716 0.00000000 5.80897716 1000.00000000
4D-A3 760944WM6 14,409,709.96 5.80897743 0.00000000 5.80897743 1000.00000000
4D-A4 760944WM6 3,047,638.66 5.80897605 0.00000000 5.80897605 1000.00000000
Pass- Realized Unpaid
Through Accrued Interest Loss Interest Interest
Class Rate Interest Shortfall Interest Shortfall Payment
4D-A1 6.98500% 15,250.28 31.07 0.00 0.00 15,219.21
4D-A2 6.98500% 78,109.51 159.10 0.00 0.00 77,950.41
4D-A3 6.98500% 83,876.52 170.84 0.00 0.00 83,705.68
4D-A4 6.98500% 17,739.80 36.14 0.00 0.00 17,703.66
Total: 194,976.11 397.15 0.00 0.00 194,578.96
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 15,219.21
4D-A2 13,418,956.18 0.00 0.00 0.00 13,418,956.18 77,950.41
4D-A3 14,409,709.96 0.00 0.00 0.00 14,409,709.96 83,705.68
4D-A4 3,047,638.66 0.00 0.00 0.00 3,047,638.66 17,703.66
Total: 33,496,252.07 0.00 0.00 0.00 33,496,252.07 194,578.96
</TABLE>
Certificate Information
<PAGE> 5
<TABLE>
<CAPTION>
<S> <C>
Aggregate Certificate Principal Balance: 172,887,668.52
Trustee Fee: 2,164.53
Extraordinary Expenses: 0.00
Aggregate Realized Interest Losses: 0.00
Aggregate Realized Principal Losses: 0.00
</TABLE>
<PAGE> 1
EXHIBIT 20.2
The Prudential Home Mortgage Securities Company, Inc.
Mortgage Pass-Through Certificates
Statements to Certificateholders
Record Date: 30-Sep-1996
Distribution Date: 25-Oct-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 27,848,490.69 0.60435093
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 6.06250 116,650,000.00 88,625,832.17 0.75975853
A-8 74434T5H6 2.93750 0.00 0.00 0.00000000
A-9 74434T5J2 7.30000 4,956,000.00 4,678,866.15 0.94408114
A-10 74434T5K9 6.81250 53,655,000.00 50,654,673.80 0.94408114
A-11 74434T5L7 9.39338 12,495,000.00 11,796,293.90 0.94408114
A-12 74434T5M5 6.06250 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 7.01250 20,294,000.00 19,159,182.74 0.94408114
A-15 74434T5Q6 8.53456 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 0.08345 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 6,580,989.09 0.97308725
B PHM94008B 7.30000 20,288,728.46 19,742,703.03 0.97308725
</TABLE>
<PAGE> 2
PRINCIPAL DISTRIBUTION
<TABLE>
<CAPTION>
Scheduled Unscheduled
Principal Principal Deferred Realized Principal
Class Distribution Distribution Accretion Interest Loss (1) Distribution
<S> <C> <C> <C> <C> <C> <C>
A-1 146,425.06 321,199.78 0.00 0.00 0.00 467,624.84
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-7 219,637.59 481,799.67 0.00 0.00 0.00 701,437.26
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 6,478.01 0.00 0.00 0.00 0.00 6,478.01
B 10,659.37 0.00 0.00 0.00 8,774.39 10,659.37
</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.
INTEREST DISTRIBUTION
<TABLE>
<CAPTION>
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-1 112,084.62 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
</TABLE>
<PAGE> 3
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
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-7 451,288.81 0.00 0.00 0.00 0.00
A-8 222,068.32 0.00 0.00 0.00 0.00
A-9 28,463.10 0.00 0.00 0.00 0.00
A-10 287,570.80 0.00 0.00 0.00 0.00
A-11 92,339.25 0.00 0.00 0.00 0.00
A-12 7,022.40 0.00 0.00 0.00 0.00
A-13 1,672.50 0.00 0.00 0.00 0.00
A-14 111,961.47 0.00 0.00 0.00 0.00
A-15 31,732.40 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 27,715.94 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 40,073.76 0.00 0.00 0.00 0.00
B 120,219.67 0.00 8,579.95 0.00 0.00
</TABLE>
INTEREST DISTRIBUTION
<TABLE>
<CAPTION>
Remaining Ending
Cumulative Unpaid Certificate/Notional Realized Interest
Class Interest Shortfall Balance Losses (2) Distribution
<S> <C> <C> <C> <C>
A-1 0.00 27,848,490.69 0.00 112,084.62
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 88,625,832.17 0.00 451,288.81
A-8 0.00 90,015,832.17 0.00 222,068.32
A-9 0.00 4,678,866.15 0.00 28,463.10
A-10 0.00 50,654,673.80 0.00 287,570.80
A-11 0.00 11,796,293.90 0.00 92,339.25
A-12 0.00 1,390,000.00 0.00 7,022.40
A-13 0.00 223,000.00 0.00 1,672.50
A-14 0.00 19,159,182.74 0.00 111,961.47
A-15 0.00 4,461,727.49 0.00 31,732.40
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 0.00 397,402,648.99 0.00 27,715.94
A-R 0.00 944.08 0.00 5.74
A-LR 0.00 944.08 0.00 5.74
M 0.00 6,580,989.09 0.00 40,073.76
B 0.00 19,742,703.03 0.00 128,799.62
</TABLE>
<PAGE> 4
(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.
PREPAYMENT INTEREST SHORTFALL
<TABLE>
<CAPTION>
<S> <C>
Total Prepayment Interest Shortfall 3,330.58
Servicing Fee Support 3,330.58
Non-Supported Prepayment Interest Shortfall 0.00
</TABLE>
SERVICING FEES
<TABLE>
<CAPTION>
<S> <C>
Gross Servicing Fee 66,427.43
Supported Prepayment/Curtailment Interest Shortfall 3,330.58
Net Servicing Fees 63,096.85
</TABLE>
SERVICER ADVANCES
<TABLE>
<CAPTION>
<S> <C>
Beginning Balance 0.00
Current Period Advances By Servicer 0.00
Reimbursement of Advances 0.00
Ending Cumulative Advances 0.00
</TABLE>
DELINQUENCY STATUS
<TABLE>
<CAPTION>
Current Unpaid
Number of Number Of Principal
Days Loans Balance
<S> <C> <C>
30 Days 6 1,514,726.71
60 Days 2 465,270.06
90+ Days 1 122,089.70
</TABLE>
Page 4
<PAGE> 5
<TABLE>
<CAPTION>
<S> <C> <C>
Foreclosure 0 0.00
REO 0 0.00
Totals 9 2,102,086.47
</TABLE>
ADDITIONAL DELINQUENCY STATUS INFORMATION
<TABLE>
<CAPTION>
<S> <C>
Principal Balance of Contaminated Properties 0.00
Periodic Advance 120,432.98
Current Period Realized Loss - Includes Interest Shortfall 8,774.39
Cumulative Realized Losses - Includes Interest Shortfall 87,844.29
</TABLE>
COLLATERAL STATEMENT
<TABLE>
<CAPTION>
Collateral Description Fixed 30 Year
<S> <C>
Weighted Average Gross Coupon 7.583447%
Weighted Average Net Coupon 7.383447%
Weighted Average Pass-Through Rate 7.300000%
Weighted Average Maturity (Stepdown Calculation) 327 Months
Beginning Scheduled Collateral Loan Count 1,587
Number of Loans Paid in Full 4
Ending Scheduled Collateral Loan Count 1,583
Beginning Scheduled Collateral Balance 398,597,622.86
Ending Scheduled Collateral Balance 397,402,648.99
Ending Actual Collateral Balance at 30-Sep-1996 397,861,964.57
Monthly P&I Constant 2,906,755.98
Class AP Deferred Amount 0.00
</TABLE>
CREDIT ENHANCEMENT
<TABLE>
<CAPTION>
Loss Description Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
</TABLE>
Page 5
<PAGE> 6
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
Bankruptcy 148,000.00 0.03282632% 148,000.00 0.03724183%
Fraud 9,017,154.57 2.00000000% 4,149,761.18 1.04422081%
Special Hazard 6,464,898.70 1.43391103% 5,142,703.18 1.29407874%
</TABLE>
Limit of Subordination's Exposure for 100% of Certain Types of Losses
SUBORDINATION LEVEL
<TABLE>
<CAPTION>
Class Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
A 27,051,728.46 6.00005872% 26,323,692.12 6.62393474%
M 20,288,728.46 4.50002898% 19,742,703.03 4.96793443%
B 0.00 0.00000000% 0.00 0.00000000%
</TABLE>
Please refer to the Prospectus Supplement For A Full Description Of Loss
Exposure
Page 6
<PAGE> 1
EXHIBIT 20.3
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
OCTOBER 1996
REMIC Multi-Class Pass-Through Certificates
Series 1994-11
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1994 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank 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:
A. Mortgage Loan Information:
<TABLE>
<S> <C>
1. Aggregate Scheduled Monthly Payments:
(a) Principal ........................................... $ 492,813.80
(b) Interest ............................................ $ 2,837,329.60
(c) Total ............................................... $ 3,330,143.40
2. Aggregate Monthly Payments Received and Monthly
Advances made this month:
(a) Principal ........................................... $ 492,813.80
(b) Interest ............................................ $ 2,754,960.75
(c) Total ............................................... $ 3,247,774.55
3. Aggregate Principal Prepayments in part received
and applied in prior month: ................................................... $ 350,748.03
4. Aggregate Principal Prepayments in full received
in prior month:
(a) Principal ........................................... $ 2,090,233.17
(b) Interest ............................................ $ 5,380.64
(c) Total ............................................... $ 2,095,613.81
</TABLE>
<PAGE> 2
<TABLE>
<S> <C>
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
8. Aggregate Purchase Prices ( and substitution adjustments)
for Defective Mortgage Loans:
(a) Principal .................... $ 0.00
(b) Interest ..................... $ 0.00
(c) Total ........................ $ 0.00
9. Pool Scheduled Principal Balance: ....................... $466,242,256.05
10. Available Funds: ........................................ $ 5,694,136.39
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
</TABLE>
<PAGE> 3
13. Accrued Certificate Interest, Unpaid Class Interest
Shortfalls and Pay-out Rate:
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Class 11-A1 ........ $481,729.70 $ 0.00 6.47907613%
Class 11-A2 ........ $ 68,582.80 $ 0.00 9.96781087%
Class 11-A3 ........ $ 84,659.85 $ 0.00 6.47907600%
Class 11-A4 ........ $236,061.13 $ 0.00 5.88100758%
Class 11-A5 ........ $121,974.01 $ 0.00 6.47907627%
Class 11-A6 ........ $ 93,817.02 $ 0.00 6.47907597%
Class 11-A7 ........ $ 58,053.41 $ 0.00 5.80026819%
Class 11-A8 ........ $ 31,735.33 $ 0.00 8.24397523%
Class 11-A9 ........ $ 85,864.80 $ 0.00 6.47907595%
Class 11-A10 ....... $159,428.46 $ 0.00 6.47907586%
Class 11-A11 ....... $229,890.45 $ 0.00 6.47907605%
Class 11-A12 ....... $311,355.43 $ 0.00 6.47907612%
Class 11-A13 ....... $275,077.70 $ 0.00 6.47907619%
Class 11-A14 ....... $121,870.95 $ 0.00 6.47907612%
Class 11-A15 ....... $ 6,347.44 $ 0.00 6.47907080%
Class 11-M ......... $ 62,712.12 $ 0.00 6.47907569%
Class 11-B1 ........ $ 41,806.33 $ 0.00 6.47907587%
Class 11-B2 ........ $ 27,872.64 $ 0.00 6.47907637%
Class 11-B3 ........ $ 16,723.58 $ 0.00 6.47907484%
Class 11-B4 ........ $ 2,784.64 $ 0.00 6.47908298%
Class 11-B5 ........ $ 14,839.45 $ 0.00 6.47909180%
Class 11-S ......... $227,151.92 $ 0.00 0.58098086%
Class 11-R ......... $ 0.00 $ 0.00 0.00000000%
</TABLE>
14. Principal distributable:
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Class 11-A1 ... $2,119,849.17 Class 11-A12 . $ 0.00
Class 11-A2 ... $ 0.00 Class 11-A13 . $ 0.00
Class 11-A3 ... $ 739,648.49 Class 11-A14 . $ 0.00
Class 11-A4 ... $ 0.00 Class 11-A15 . $ 0.00
Class 11-A5 ... $ 0.00 Class 11-M ... $ 12,200.19
Class 11-A6 ... $ 0.00 Class 11-B1 .. $ 8,133.12
Class 11-A7 ... $ 0.00 Class 11-B2 .. $ 5,422.42
Class 11-A8 ... $ 0.00 Class 11-B3 .. $ 3,253.45
Class 11-A9 ... $ 0.00 Class 11-B4 .. $ 541.73
Class 11-A10 . $ 0.00 Class 11-B5 .. $ 2,886.91
Class 11-A11 . $ 170,077.91 Class 11-R ... $ 0.00
</TABLE>
15. Additional distributions to the Class 11-R Certificate
pursuant to Section 4.01(b): ............... $2.23
<PAGE> 4
16. Certificate Interest Rates of:
<TABLE>
<S> <C>
Class 11-A7 Certificates....... 5.81900000%
Class 11-A8 Certificates....... 8.27060000%
Class 11-S Certificates........ 0.58299999%
</TABLE>
B. Other Amounts:
<TABLE>
<S> <C>
1. Senior Percentage for such Distribution Date: .................. 93.417834%
2. Senior Prepayment Percentage for such Distribution Date ........ 100.000000%
3. Junior Percentage for such Distribution Date: .................. 6.582166%
4. Junior Prepayment Percentage for such Distribution Date: ....... 0.000000%
5. Subordinate Certificate Writedown Amount for such
Distribution Date: ............................................ $ 0.00
</TABLE>
6. Prepayment Distribution Triggers satisfied:
YES NO
Class 11-B1....... X
Class 11-B2....... X
Class 11-B3....... X
Class 11-B4....... X
Class 11-B5....... X
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> 5
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
OCTOBER 1996
REMIC Multi-Class Pass-Through Certificates
Series 1994-11
Pursuant to the Pooling and Servicing Agreement dated as of March 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.
i) The amount of such distribution allocable to principal:
<TABLE>
<S> <C> <C> <C>
Class 11-A1 .. $16.07541704 Class 11-A12 . $0.00000000
Class 11-A2 .. $ 0.00000000 Class 11-A13 . $0.00000000
Class 11-A3 .. $24.18653707 Class 11-A14 . $0.00000000
Class 11-A4 .. $ 0.00000000 Class 11-A15 . $0.00000000
Class 11-A5 .. $ 0.00000000 Class 11-M ... $1.02213388
Class 11-A6 .. $ 0.00000000 Class 11-B1 .. $1.02213397
Class 11-A7 .. $ 0.00000000 Class 11-B2 .. $1.02213384
Class 11-A8 .. $ 0.00000000 Class 11-B3 .. $1.02213321
Class 11-A9 .. $ 0.00000000 Class 11-B4 .. $1.02213208
Class 11-A10 . $ 0.00000000 Class 11-B5 .. $0.98848442
Class 11-A11 . $ 3.69734587 Class 11-R ... $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>
<S> <C> <C> <C>
Class 11-A1 ... 13.52463290 Class 11-A12 . 0.00000000
Class 11-A2 ... 0.00000000 Class 11-A13 . 0.00000000
Class 11-A3 ... 20.34871221 Class 11-A14 . 0.00000000
Class 11-A4 ... 0.00000000 Class 11-A15 . 0.00000000
Class 11-A5 ... 0.00000000 Class 11-M ... 0.00000000
Class 11-A6 ... 0.00000000 Class 11-B1 .. 0.00000000
Class 11-A7 ... 0.00000000 Class 11-B2 .. 0.00000000
Class 11-A8 ... 0.00000000 Class 11-B3 .. 0.00000000
Class 11-A9 ... 0.00000000 Class 11-B4 .. 0.00000000
Class 11-A10 . 0.00000000 Class 11-B5 .. 0.00000000
Class 11-A11 . 3.11066553 Class 11-R ... 0.00000000
</TABLE>
<PAGE> 6
ii) The amount of such distribution to the Certificateholders
of each class, allocable to Interest:
<TABLE>
<S> <C> <C> <C>
Class 11-A1 ... 3.65309284 Class 11-A13 . 5.36402051
Class 11-A2 ... 8.30650906 Class 11-A14 . 6.34744531
Class 11-A3 ... 2.76838069 Class 11-A15 . 6.34744000
Class 11-A4 ... 4.90083965 Class 11-M ... 5.25403150
Class 11-A5 ... 5.39923022 Class 11-B1 .. 5.25403167
Class 11-A6 ... 5.39922997 Class 11-B2 .. 5.25403205
Class 11-A7 ... 4.64660651 Class 11-B3 .. 5.25403079
Class 11-A8 ... 6.60426514 Class 11-B4 .. 5.25403774
Class 11-A9 ... 5.19040077 Class 11-B5 .. 5.08106075
Class 11-A10 .. 5.39922988 Class 11-S ... 0.42816397
Class 11-A11 .. 4.99761848 Class 11-R ... 0.00000000
Class 11-A12 .. 5.27721068
</TABLE>
iii) The amount of servicing compensation received by GECMSI
during the month preceding the month of distribution... 0.14968203
(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 .. $466,242,256.05
The aggregate number of loans included in the Pool Scheduled
Principal Balances ............................................. 1,672
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>
<CAPTION>
Class Certificate Single
Principal Balance Certificate Balance
<S> <C> <C>
Class 11-A1... $87,102,075.12 660.52
Class 11-A2... $ 8,256,513.00 1,000.00
Class 11-A3... $14,940,337.37 488.55
Class 11-A4... $48,167,487.00 1,000.00
Class 11-A5... $22,591,000.00 1,000.00
Class 11-A6... $17,376,000.00 1,000.00
Class 11-A7... $12,010,494.99 961.32
Class 11-A8... $ 4,619,421.45 961.32
Class 11-A9... $15,903,156.68 961.32
Class 11-A10.. $29,528,000.00 1,000.00
Class 11-A11.. $42,408,298.65 921.92
Class 11-A12.. $57,666,634.75 977.40
</TABLE>
<PAGE> 7
Class Certificate Single
Principal Balance Certificate Balance
<TABLE>
<S> <C> <C>
Class 11-A13 .. $ 50,947,578.04 993.48
Class 11-A14 .. $ 22,693,783.56 1,181.97
Class 11-A15 .. $ 1,181,967.87 1,181.97
Class 11-M .... $ 11,602,812.13 972.09
Class 11-B1 ... $ 7,734,884.09 972.09
Class 11-B2 ... $ 5,156,913.40 972.09
Class 11-B3 ... $ 3,094,148.03 972.09
Class 11-B4 ... $ 515,205.33 972.09
Class 11-B5 ... $ 2,745,544.59 940.08
Class 11-S .... $466,242,256.05 878.83
Class 11-R .... $ 0.00 0.00
</TABLE>
vi) The Pay-out Rate applicable to each class of Certificates:
<TABLE>
<S> <C> <C> <C>
Class 11-A1 ... 6.47907613% Class 11-A13 . . 6.47907619%
Class 11-A2 ... 9.96781087% Class 11-A14 . . 6.47907612%
Class 11-A3 ... 6.47907600% Class 11-A15 . . 6.47907080%
Class 11-A4 ... 5.88100758% Class 11-M ..... 6.47907569%
Class 11-A5 ... 6.47907627% Class 11-B1 .... 6.47907587%
Class 11-A6 ... 6.47907597% Class 11-B2 .... 6.47907637%
Class 11-A7 ... 5.80026819% Class 11-B3 .... 6.47907484%
Class 11-A8 ... 8.24397523% Class 11-B4 .... 6.47908298%
Class 11-A9 ... 6.47907595% Class 11-B5 .... 6.47909180%
Class 11-A10 . 6.47907586% Class 11-S ..... 0.58098086%
Class 11-A11 . 6.47907605% Class 11-R ..... 0.00000000%
Class 11-A12 . 6.47907612%
</TABLE>
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>
<S> <C>
book value.................................... $0.00
unpaid principal balance...................... $0.00
number of related mortgage loans.............. 0
</TABLE>
<PAGE> 8
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;
<TABLE>
<S> <C> <C> <C>
(a) delinquent
(1) 30-59 days
Number 16 Principal Balance $3,892,232.78
(2) 60-89 days
Number 2 Principal Balance $ 665,193.79
(3) 90 days or more
Number 1 Principal Balance $ 213,451.63
(b) in foreclosure
Number 3 Principal Balance $ 711,531.95
</TABLE>
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 Rates of the following classes applicable to
the Interest Accrual Period for such Distribution Date;
Class 11-A7 Certificates.............. 5.81900000%
Class 11-A8 Certificates.............. 8.27060000%
Class 11-S Certificates............... 0.58300%
Certificate Interest Rates of the following classes applicable to
the current Interest Accrual Period;
Class 11-A7 Certificates....... 5.83900000%
Class 11-A8 Certificates....... 8.21860000%
xi) The Senior Percentage for such Distribution Date; ............. 93.417834%
The Junior Percentage for such Distribution Date; ............. 6.582166%
xii) The Senior Prepayment Percentage for such Distribution Date; .. 100.000000%
The Junior Prepayment Percentage for such Distribution Date; .. 0.000000%
<PAGE> 1
EXHIBIT 20.4
The Bank of New York
Corporate Trust/MBS Grou
<TABLE>
<CAPTION>
CUSIP ISSUER NAME SERIES CLASS CURRENT INTEREST INTEREST DEFERRED
FACTOR FACTOR AMOUNT INTEREST
<S> <C> <C> <C> <C> <C> <C> <C>
126690NE2 CWMBS INC SERIES 1993-E A1 0.52259019807 2.98 217004.54000000 0.00
126690NF9 CWMBS INC SERIES 1993-E A2 1.00000000000 5.42 42753.75000000 0.00
126690NG7 CWMBS INC SERIES 1993-E A3 1.00000000000 5.42 143444.17000000 0.00
126690NH5 CWMBS INC SERIES 1993-E A4 1.00000000000 5.42 56262.92000000 0.00
126690NJ1 CWMBS INC SERIES 1993-E A5 0.98861163956 5.35 53662.25000000 0.00
126690NK8 CWMBS INC SERIES 1993-E A6 1.00000000000 5.42 133835.00000000 0.00
126690NL6 CWMBS INC SERIES 1993-E A7 1.00000000000 5.42 5622.50000000 0.00
126690NM4 CWMBS INC SERIES 1993-E A8 0.95966235557 5.21 270519.47000000 0.00
CWMBS INC SERIES 1993-E A8-1 0.74929581431 4.14 30095.48000000 0.00
CWMBS INC SERIES 1993-E A8-2 0.99390850979 5.38 240423.98000000 0.00
126690NN2 CWMBS INC SERIES 1993-E A9 0.95488257069 4.84 230471.22000000 0.00
126690NP7 CWMBS INC SERIES 1993-E A10 0.95488257054 6.04 110686.84000000 0.00
126690NQ5 CWMBS INC SERIES 1993-E A11 1.00000000000 0.54 113636.25000000 0.00
126690NR3 CWMBS INC SERIES 1993-E PO 0.85135334336 0.00 0.00000000 0.00
126690NS1 CWMBS INC SERIES 1993-E AR 0.86343000000 10.28 10.28000000 0.00
126690NT9 CWMBS INC SERIES 1993-E B1 0.96864575693 5.25 40875.20000000 0.00
126690NU6 CWMBS INC SERIES 1993-E B2 0.96864575948 5.25 16349.88000000 0.00
126690NV4 CWMBS INC SERIES 1993-E B3 0.96864575588 5.25 12262.41000000 0.00
126690NX0 CWMBS INC SERIES 1993-E B4 0.96864576577 5.25 14714.89000000 0.00
126690NY8 CWMBS INC SERIES 1993-E B5 0.96864576631 5.25 5722.46000000 0.00
126690NZ5 CWMBS INC SERIES 1993-E B6 0.96864574207 5.25 4496.22000000 0.00
126690PA8 CWMBS INC SERIES 1993-E B7 0.87643368028 4.75 3328.52000000 0.00
</TABLE>
<PAGE> 2
The Bank of New York
Corporate Trust/MBS Group
<TABLE>
<CAPTION>
NET CURRENT CUMMULATIVE
PREPAY INT UNPAID UNPAID RECORD PRIOR RATE
CUSIP SHORTFALL INTEREST INTEREST PAYDATE DATE FACTOR TYPE
- ----- ---------- -------- ----------- ------- ------ ------ ----
<S> <C> <C> <C> <C> <C> <C> <C>
126690NE2 0.00 0.00 0.00 10/25/96 09/30/96 0.55 FIX 6.50
126690NF9 0.00 0.00 0.00 10/25/96 09/30/96 1.00 FIX 6.50
126690NG7 0.00 0.00 0.00 10/25/96 09/30/96 1.00 FIX 6.50
126690NH5 0.00 0.00 0.00 10/25/96 09/30/96 1.00 FIX 6.50
126690NJ1 0.00 0.00 0.00 10/25/96 09/30/96 0.99 FIX 6.50
126690NK8 0.00 0.00 0.00 10/25/96 09/30/96 1.00 FIX 6.50
126690NL6 0.00 0.00 0.00 10/25/96 09/30/96 1.00 FIX 6.50
126690NM4 0.00 0.00 0.00 10/25/96 09/30/96 0.96 FIX 6.50
0.00 0.00 0.00 10/25/96 09/30/96 0.76 FIX 6.50
0.00 0.00 0.00 10/25/96 09/30/96 0.99 FIX 6.50
126690NN2 0.00 0.00 0.00 10/25/96 09/30/96 0.95 VAR 6.30
126690NP7 0.00 0.00 0.00 10/25/96 09/30/96 0.95 VAR 7.02
126690NQ5 0.00 0.00 0.00 10/25/96 09/30/96 1.00 FIX 6.50
126690NR3 0.00 0.00 0.00 10/25/96 09/30/96 0.86 PO 0.00
126690NS1 0.00 0.00 0.00 10/25/96 09/30/96 0.87 FIX 6.50
126690NT9 0.00 0.00 0.00 10/25/96 09/30/96 0.97 FIX 6.50
126690NU6 0.00 0.00 0.00 10/25/96 09/30/96 0.97 FIX 6.50
126690NV4 0.00 0.00 0.00 10/25/96 09/30/96 0.97 FIX 6.50
126690NX0 0.00 0.00 0.00 10/25/96 09/30/96 0.97 FIX 6.50
126690NY8 0.00 0.00 0.00 10/25/96 09/30/96 0.97 FIX 6.50
126690NZ5 0.00 0.00 0.00 10/25/96 09/30/96 0.97 FIX 6.50
126690PA8 0.00 0.00 0.00 10/25/96 09/30/96 0.88 FIX 6.50
</TABLE>
<PAGE> 3
The Bank of New York
Corporate Trust/MBS Group
<TABLE>
<CAPTION>
TOTAL CLASS CURRENT CUMULATIVE
ORIGINAL CURRENT PRINCIPAL PAY PRINCIPAL DISTRIBUTION PRINCIPAL PRINCIPAL
CUSIP BALANCE BALANCE FACTOR AMOUNT AMOUNT LOSS LOSS
- --------- ----------- ----------- ------------- ---------- ------------ ---------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
126690NE2 72700000.00 37992307.40 28.47475898 2070114.98 2287119.52 0.00 0.00
126690NF9 7893000.00 7893000.00 0.00000000 0.00 42753.75 0.00 0.00
126690NG7 26482000.00 26482000.00 0.00000000 0.00 143444.17 0.00 0.00
126690NH5 10387000.00 10387000.00 0.00000000 0.00 56262.92 0.00 0.00
126690NJ1 10021000.00 9906877.24 0.00000000 0.00 53662.25 0.00 0.00
126690NK8 24708000.00 24708000.00 0.00000000 0.00 133835.00 0.00 0.00
126690NL6 1038000.00 1038000.00 0.00000000 0.00 5622.50 0.00 0.00
126690NM4 51928000.00 49833346.80 2.09344978 108708.66 379228.13 0.00 0.00
7270000.00 5447380.57 14.95304814 108708.66 138804.14 0.00 0.00
44658000.00 44385966.23 0.00000000 0.00 240423.98 0.00 0.00
126690NN2 47637000.00 45487741.02 0.00000000 0.00 230471.22 0.00 0.00
126690NP7 18323000.00 17496313.34 0.00000000 0.00 110686.84 0.00 0.00
126690NQ5 20979000.00 20979000.00 0.00000000 0.00 113636.25 0.00 0.00
126690NR3 508112.00 432582.85 12.20488790 6201.45 6201.45 0.00 0.00
126690NS1 1000.00 863.43 7.46000000 7.46 17.74 0.00 0.00
126690NT9 7782148.00 7538144.64 1.03387008 8045.73 48920.93 0.00 0.00
126690NU6 3112821.00 3015220.86 1.03386928 3218.25 19568.13 0.00 0.00
126690NV4 2334616.00 2261415.88 1.03387024 2413.69 14676.10 0.00 0.00
126690NX0 2801539.00 2713698.89 1.03387103 2896.43 17611.32 0.00 0.00
126690NY8 1089487.00 1055326.97 1.03387190 1126.39 6848.85 0.00 0.00
126690NZ5 856026.00 829185.94 1.03387047 885.02 5381.24 0.00 0.00
126690PA8 700384.54 613840.60 0.93544326 655.17 3983.69 0.00 0.00
</TABLE>
<PAGE> 1
EXHIBIT 20.5
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 TOTAL *DEFERRED
CLASS CUSIP FACE VALUE DISTRIBUTION RATE DISTRIBUTION DISTRIBUTION DISTRIBUTION INTEREST
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 760944VR6 59,151,000.00 36,331,520.90 5.4000 % 713,847.12 163,159.54 877,006.66 0.00
A-2 760944VT2 18,171,000.00 18,171,000.00 6.4500 % 0.00 97,470.62 97,470.62 0.00
A-3 760944WL8 4,309,000.00 4,309,000.00 7.0000 % 0.00 25,084.74 25,084.74 0.00
A-4 760944WM6 34,777,700.00 33,496,926.28 7.0000 % 0.00 195,001.59 195,001.59 0.00
A-5 760944WN4 491,000.00 448,220.39 7.0000 % 0.00 2,609.31 2,609.31 0.00
A-6 760944VS4 29,197,500.00 26,829,850.30 6.0000 % 0.00 133,876.59 133,876.59 0.00
A-7 760944WW4 9,732,500.00 8,943,283.44 10.0000 % 0.00 74,375.88 74,375.88 0.00
A-8 760944WX2 20,191,500.00 17,081,606.39 5.9690 % 0.00 84,794.06 84,794.06 0.00
A-9 760944WY0 8,653,500.00 7,320,688.44 9.4057 % 0.00 57,263.34 57,263.34 0.00
A-10 760944WU8 8,704,536.00 8,704,536.00 6.8125 % 0.00 49,315.94 49,315.94 0.00
A-11 760944WV6 3,108,764.00 3,108,764.00 7.5250 % 0.00 19,454.92 19,454.92 0.00
A-12 760944WH7 4,096,000.00 0.00 7.0000 % 0.00 0.00 0.00 0.00
A-13 760944WJ3 0.00 0.00 7.0000 % 0.00 56,655.01 56,655.01 0.00
A-14 760944WK0 0.00 0.00 0.1529 % 0.00 22,559.31 22,559.31 0.00
R-I 760944WS3 100.00 0.00 7.0000 % 0.00 0.00 0.00 0.00
R-II 760944WT1 100.00 0.00 7.0000 % 0.00 0.00 0.00 0.00
M-1 760944WP9 5,348,941.00 5,172,929.49 7.0000 % 5,418.70 30,114.09 35,532.79 0.00
M-2 760944WQ7 3,209,348.00 3,103,741.64 7.0000 % 3,251.20 18,068.36 21,319.56 0.00
M-3 760944WR5 2,139,566.00 2,069,161.73 7.0000 % 2,167.47 12,045.58 14,213.05 0.00
B-1 1,390,718.00 1,344,955.22 7.0000 % 1,408.85 7,829.62 9,238.47 0.00
B-2 320,935.00 310,374.38 7.0000 % 325.12 1,806.84 2,131.96 0.00
B-3 962,805.06 669,638.36 7.0000 % 701.45 3,898.28 4,599.73 0.00
-----------------------------------------------------------------------------------------------------------------------------
213,956,513.06 177,416,196.96 727,119.91 1,055,383.62 1,782,503.53 0.00
=============================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------
REMAINING
PRINCIPAL INTEREST PRINCIPAL
LOSS LOSS BALANCE
- ----------------------------------------
<S> <C> <C>
0.00 0.00 35,617,673.78
0.00 0.00 18,171,000.00
0.00 0.00 4,309,000.00
0.00 0.00 33,496,926.28
0.00 0.00 448,220.39
0.00 0.00 26,829,850.30
0.00 0.00 8,943,283.44
0.00 0.00 17,081,606.39
0.00 0.00 7,320,688.44
0.00 0.00 8,704,536.00
0.00 0.00 3,108,764.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 5,167,510.79
0.00 0.00 3,100,490.44
0.00 0.00 2,066,994.26
0.00 0.00 1,343,546.37
0.00 0.00 310,049.26
0.00 0.00 668,936.91
- ----------------------------------------
0.00 0.00 176,689,077.05
========================================
</TABLE>
<PAGE> 2
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>
A-1 614.216512 12.068217 2.758356 0.005618 14.826573
A-2 1,000.000000 0.000000 5.364076 0.010925 5.364076
A-3 1,000.000000 0.000000 5.821476 0.011857 5.821476
A-4 963.172558 0.000000 5.607087 0.011420 5.607087
A-5 912.872485 0.000000 5.314277 0.010815 5.314277
A-6 918.909163 0.000000 4.585207 0.009338 4.585207
A-7 918.909164 0.000000 7.642012 0.015564 7.642012
A-8 845.980060 0.000000 4.199493 0.008553 4.199493
A-9 845.980059 0.000000 6.617362 0.013478 6.617362
A-10 1,000.000000 0.000000 5.665545 0.011539 5.665545
A-11 1,000.000000 0.000000 6.258088 0.012745 6.258088
A-12 0.000000 0.000000 0.000000 0.000000 0.000000
R-I 0.000000 0.000000 0.000000 0.000000 0.000000
R-II 0.000000 0.000000 0.000000 0.000000 0.000000
M-1 967.094139 1.013042 5.629916 0.011466 6.642958
M-2 967.094139 1.013041 5.629916 0.011467 6.642957
M-3 967.094135 1.013042 5.629917 0.011465 6.642959
B-1 967.094134 1.013038 5.629912 0.011469 6.642950
B-2 967.094209 1.013040 5.629925 0.011466 6.642965
B-3 695.507728 0.728548 4.048878 0.008247 4.777426
</TABLE>
====================================================
* DEFERRED INTEREST - INCLUDES NON-CASH ALLOCATIONS
- --------------------------------------------------------
DETERMINATION DATE : 21-October-96
DISTRIBUTION DATE : 25-October-96
MASTER SERVICER:
RESIDENTIAL FUNDING CORPORATION
INVESTOR REPORTING DEPARTMENT
10 UNIVERSAL CITY PLAZA, SUITE 2100
UNIVERSAL CITY, CA 91608
(818) 753-3500
<PAGE> 3
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> <C>
SERVICING COMPENSATION RECEIVED BY SUB-SERVICER 38,211.03
SERVICING COMPENSATION RECEIVED BY MASTER SERVICER 20,245.71
SUBSERVICER ADVANCES THIS MONTH 9,817.75
MASTER SERVICER ADVANCES THIS MONTH 0.00
NUMBER OF PRINCIPAL
DELINQUENCIES: LOANS BALANCE
(A) ONE MONTHLY PAYMENT: 3 679,288.33
(B) TWO MONTHLY PAYMENTS: 2 484,902.34
(C) THREE OR MORE MONTHLY PAYMENTS: 1 225,909.54
FORECLOSURES
NUMBER OF LOANS 0
AGGREGATE PRINCIPAL BALANCE 0.00
SCHEDULED PRINCIPAL BALANCE OF MORTGAGE LOANS AFTER
DISTRIBUTION 176,689,077.05
AGGREGATE NUMBER OF LOANS IN THE POOL AS OF THE
DETERMINATION DATE 598
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 541,274.64
TOTAL REPURCHASES INCLUDED IN THIS DISTRIBUTION 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION PERCENTAGES:
SENIOR CLASS M CLASS B
<S> <C> <C> <C>
PERCENTAGE FOR CURRENT DISTRIBUTION 92.85814880% 5.83139100% 1.31046020%
</TABLE>
<TABLE>
<CAPTION>
SENIOR ACCELERATED DISTRIBUTION PERCENTAGE 100.00000000 %
ACCUMULATED ENDING
UNPAID INTEREST PERCENTAGES
<S> <C> <C>
SENIOR 0.00 92.83627020 %
CLASS M-1 0.00 2.92463511 %
CLASS M-2 0.00 1.75477199 %
CLASS M-3 0.00 1.16984835 %
CLASS B-1 0.00 0.76040149 %
CLASS B-2 0.00 0.17547732 %
CLASS B-3 NOT TO BE REPAID 0.37859551 %
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 13,272.79
</TABLE>
<TABLE>
<CAPTION>
CLASS A-14 - STRIP PASS-THROUGH FOR NEXT DISTRIBUTION
<S> <C>
BANKRUPTCY AMOUNT AVAILABLE 100,000.00
FRAUD AMOUNT AVAILABLE 1,772,076.00 *
SPECIAL HAZARD AMOUNT AVAILABLE 2,047,327.00 *
* ABOVE AMOUNTS ADJUSTED IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT
</TABLE>
<TABLE>
<S> <C>
ENDING GROSS WEIGHTED AVERAGE INTEREST RATE 7.53622009 %
ENDING WEIGHTED AVERAGE MATURITY, IN MONTHS 313.53
POOL TRADING FACTOR: 82.58177072 %
INDEX USED FOR THIS DISTRIBUTION:
11TH DISTRICT COST OF FUNDS: 4.8190
LIBOR: 5.5625
</TABLE>
<PAGE> 4
<TABLE>
<CAPTION>
Series Class Original Beginning Ending Component1 Component1 Component2 Component2
Balance Balance Balance Beginning Ending Beginning Ending
Balance Balance Balance Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1993-S34 A-1 59,151,000.00 36,331,520.90 35,617,673.78 0.00 0.00 0.00 0.00
1993-S34 A-2 18,171,000.00 18,171,000.00 18,171,000.00 0.00 0.00 0.00 0.00
1993-S34 A-3 4,309,000.00 4,309,000.00 4,309,000.00 0.00 0.00 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 13,419,226.28 13,419,226.28
1993-S34 A-5 491,000.00 448,220.39 448,220.39 0.00 0.00 0.00 0.00
1993-S34 A-6 29,197,500.00 26,829,850.30 26,829,850.30 0.00 0.00 0.00 0.00
1993-S34 A-7 9,732,500.00 8,943,283.44 8,943,283.44 0.00 0.00 0.00 0.00
1993-S34 A-8 20,191,500.00 17,081,606.39 17,081,606.39 0.00 0.00 0.00 0.00
1993-S34 A-9 8,653,500.00 7,320,688.44 7,320,688.44 0.00 0.00 0.00 0.00
1993-S34 A-10 8,704,536.00 8,704,536.00 8,704,536.00 0.00 0.00 0.00 0.00
1993-S34 A-11 3,108,764.00 3,108,764.00 3,108,764.00 0.00 0.00 0.00 0.00
1993-S34 A-12 4,096,000.00 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 0.00
1993-S34 A-14 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 R-I 100.00 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 R-II 100.00 0.00 0.00 0.00 0.00 0.00 0.00
1993-S34 M-1 5,348,941.00 5,172,929.49 5,167,510.79 0.00 0.00 0.00 0.00
1993-S34 M-2 3,209,348.00 3,103,741.64 3,100,490.44 0.00 0.00 0.00 0.00
1993-S34 M-3 2,139,566.00 2,069,161.73 2,066,994.26 0.00 0.00 0.00 0.00
1993-S34 B-1 1,390,718.00 1,344,955.22 1,343,546.37 0.00 0.00 0.00 0.00
1993-S34 B-2 320,935.00 310,374.38 310,049.26 0.00 0.00 0.00 0.00
1993-S34 B-3 962,805.06 669,638.36 668,936.91 0.00 0.00 0.00 0.00
<CAPTION>
Series Component3 Component3 Component4 Component4
Beginning Ending Beginning Ending
Balance Balance Balance Balance
<S> <C> <C> <C> <C>
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 14,410,000.00 14,410,000.00 3,047,700.00 3,047,700.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
1993-S34 0.00 0.00 0.00 0.00
</TABLE>
