ASSET SECURITIZATION CORP COMM MOR PASS THR CER 1996-MD VI
8-K, 1998-07-28
ASSET-BACKED SECURITIES
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                 SECURITIES AND EXCHANGE COMMISSION
                      WASHINGTON, D.C. 20549

                            FORM 8-K

                         CURRENT REPORT
               Pursuant to Section 13 or 15(d) of the 
                   Securities Exchange Act of 1934

                    Date of Report: July 15, 1998   
                  (Date of earliest event reported)


                   Asset Securitization Corporation
             Commercial Mortgage Pass-Through Certificates
                         Series 1996-MD VI
- ---------------------------------------------------------------------
          (Exact Name of registrant as specified in its charter)

Delaware                      33-49370-02              13-3672337
- --------------------      -------------------     ---------------------
(State or Other Juris-       (Commission           (I.R.S. Employer
diction of Incorporation)     File Number)          Identification Number)


Two World Financial Center, Building B, New York, New York          10281
- ------------------------------------------------------------------
(Address of Principal Executive Office)                          (Zip Code)


Registrant's telephone number, including area code:             212-667-9300
                                                        -------------------


- ------------------------------------------------------------------------
               This Document contains exactly 19 Pages.
                    The Exhibit Index is on Page 05.

<PAGE>

ITEM 5. OTHER EVENTS
                
                This Current Report on Form 8-K relates to the Trust Fund 
formed, and the Commercial Mortgage Pass-Through Certificates Series 1996-MD VI
issued pursuant to a Pooling and Servicing Agreement, dated as of December 1,
1996 (the "Pooling and Servicing Agreement"), by and among Asset Securitization
Corporation (the "Company"), as depositor, AMRESCO Services L.P., as servicer,
LaSalle National Bank, as trustee, and ABN AMRO Bank, N.V., as fiscal agent. 
The Certificates have been registered pursuant to the Act under a Registration 
Statement on Form S-3 (No.33-99502) (the "Registration Statement").

                Capitalized terms used herein and not defined herein have the
same meanings ascribed to such terms in the Pooling and Servicing Agreement.

                Pursuant to Section 3.22 of the Pooling and Servicing Agreement,
Servicer is filing this Current Report containing the July 15, 1998 monthly
distribution report prepared by the Trustee, pursuant to Section 4.02(a)
thereof.

                Servicer has received and presented copies of the monthly
financial information required pursuant to the documents for the Columbia
Sussex II loan; the HGI II loan; the MHP II loan; the Palmer Square loan; and
the Prime Retail II loan to the Trustee.  Servicer has received and will file
separately, based on an EDGAR hardship exemption, the monthly financial
information required pursuant to the documents for the MHP II loan and the Prime
Retail II loan.  

                This Current Report is being filed by the Servicer, in its
capacity as such under the Pooling and Servicing Agreement, on behalf of the
Registrant.  The information reported and contained herein has been supplied to
the Servicer by one or more of the Borrowers or other third parties without
independent review or investigation by the Servicer.  Pursuant to the Pooling
and Servicing Agreement, the Servicer is not responsible for the accuracy or
completeness of such information.

<PAGE>

ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION 
        AND EXHIBITS

       (c)     Exhibits


                   Item 601(a) of 
                   Regulation S-K
   Exhibit No.     Exhibit No.      Description

   17.1            99              Monthly distribution report pursuant to
                                   Section 4.2 of the Pooling and Servicing
                                   Agreement for the distribution on July 15, 
                                   1998                                       
                                                        
<PAGE>


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on behalf of the Registrant
by the undersigned thereunto duly authorized.


                                             AMRESCO MORTGAGE CAPITAL, INC.
                                             AS GENERAL PARTNER OF AMRESCO 
                                             SERVICES L.P., IN ITS CAPACITY AS 
                                             SERVICER UNDER THE POOLING AND 
                                             SERVICING AGREEMENT ON BEHALF 
                                             OF ASSET SECURITIZATION 
                                             CORPORATION, REGISTRANT







                                             By:/s/Daniel B. Kirby
                                                   Daniel B. Kirby, 
                                                   Senior Vice President

                                             By:/s/Sean D. Reilly            
                                                   Sean D. Reilly
                                                   Vice President


Date: July 23, 1998


<PAGE>
                                                   
EXHIBIT INDEX



                Item 601(a) of 
                Regulation S-K
Exhibit No.     Exhibit No.       Description

17.1            99                Monthly distribution report pursuant to
                                  Section 4.2 of the Pooling and Servicing
                                  Agreement for the distribution on
                                  July 15, 1998






ABN AMRO
LaSalle National Bank

Administrator:
  Lora Peloquin  (800) 246-5761
  135 S. LaSalle Street   Suite 1740
  Chicago, IL   60603

Amresco Management, Inc. as Servicer
Commercial Mortgage Pass-Through Certificates
Series 1996-MD VI

ABN AMRO Acct: 67-7657-70-2

Payment Date:                            07/15/98
Prior Payment:                           06/15/98
Record Date:                             07/10/98

WAC:                                    7.981827%
WAMM:                                        286


                                   Number Of Pages

Table Of Contents                                1

REMIC Certificate Report                         5

Other Related Information                        5

Asset Backed Facts Sheets                        1

Total Pages Included  In This Package           12


Specially Serviced Loan Detail           Appendix A
Modified Loan Detail                     Appendix B
Realized Loss Detail                     Appendix C


Grantor Trust

              Original                           Opening
Class         Face Value (1)                     Balance
CUSIP         Per $1,000                         Per $1,000

A-1A             94,311,998.00                      81,307,407.11
045424CU0        1000.000000000                      862.110959732
A-1B            333,473,178.00                     333,473,178.00
045424CV8        1000.000000000                     1000.000000000
A-1C            171,996,502.00                     171,996,502.00
045424CW6        1000.000000000                     1000.000000000
CS-1             94,311,998.00 N                    81,307,407.11
045424CX4        1000.000000000                      862.110959732
CS-2            333,473,178.00 N                   333,473,178.00
045424CY2        1000.000000000                     1000.000000000
CS-3            431,603,494.00 N                   431,603,494.00
045424CZ9        1000.000000000                     1000.000000000
A-2              35,807,861.00                      35,807,861.00
045424DA3        1000.000000000                     1000.000000000
A-3              35,807,861.00                      35,807,861.00
045424DB1        1000.000000000                     1000.000000000
A-4              44,759,826.00                      44,759,826.00
045424DC9        1000.000000000                     1000.000000000
A-5              22,379,913.00                      22,379,913.00
045424DD7        1000.000000000                     1000.000000000
A-6              49,235,809.00                      49,235,809.00
045424DE5        1000.000000000                     1000.000000000
A-7              71,615,722.00                      71,615,722.00
045424DF2        1000.000000000                     1000.000000000
B-1              35,806,865.00                      35,806,865.00
045424DG0        1000.000000000                     1000.000000000
B-1H                  1,000.09                           1,000.09
045424DL9        1000.000000000                     1000.000000000
P-IO            358,748,252.00 N                   354,497,963.98
042424DK1        1000.000000000                      988.152449534
V-1                       0.00                               0.00
042424DM7        1000.000000000                        0.000000000
V-2                       0.00                               0.00
042424DN5        1000.000000000                        0.000000000

                895,196,535.09                     882,191,944.20


Notes:  (1) N denotes notional balance not included in total


              Principal        Principal         Negative
Class         Payment          Adj. or Loss      Amortization
CUSIP         Per $1,000       Per $1,000        Per $1,000

A-1A              1,087,094.60              0.00             0.00
045424CU0          11.526577986       0.000000000      0.000000000
A-1B                      0.00              0.00             0.00
045424CV8           0.000000000       0.000000000      0.000000000
A-1C                      0.00              0.00             0.00
045424CW6           0.000000000       0.000000000      0.000000000
CS-1                      0.00              0.00             0.00
045424CX4           0.000000000       0.000000000      0.000000000
CS-2                      0.00              0.00             0.00
045424CY2           0.000000000       0.000000000      0.000000000
CS-3                      0.00              0.00             0.00
045424CZ9           0.000000000       0.000000000      0.000000000
A-2                       0.00              0.00             0.00
045424DA3           0.000000000       0.000000000      0.000000000
A-3                       0.00              0.00             0.00
045424DB1           0.000000000       0.000000000      0.000000000
A-4                       0.00              0.00             0.00
045424DC9           0.000000000       0.000000000      0.000000000
A-5                       0.00              0.00             0.00
045424DD7           0.000000000       0.000000000      0.000000000
A-6                       0.00              0.00             0.00
045424DE5           0.000000000       0.000000000      0.000000000
A-7                       0.00              0.00             0.00
045424DF2           0.000000000       0.000000000      0.000000000
B-1                       0.00              0.00             0.00
045424DG0           0.000000000       0.000000000      0.000000000
B-1H                      0.00              0.00             0.00
045424DL9           0.000000000       0.000000000      0.000000000
P-IO                      0.00              0.00             0.00
042424DK1           0.000000000       0.000000000      0.000000000
V-1                       0.00              0.00             0.00
042424DM7           0.000000000       0.000000000      0.000000000
V-2                       0.00              0.00             0.00
042424DN5           0.000000000       0.000000000      0.000000000

                  1,087,094.60              0.00             0.00


              Closing      Interest       Interest      Pass-Through
Class         Balance      Payment        Adjustment    Rate (2)
CUSIP         Per $1,000   Per $1,000     Per $1,000    Next Rate (3)

A-1A        80,220,312.51    455,321.48          0.00   6.72000000%
045424CU0    850.584381745   4.827821376   0.000000000  6.72000000%
A-1B       333,473,178.00  1,911,912.89          0.00   6.88000000%
045424CV8   1000.000000000   5.733333342   0.000000000  6.88000000%
A-1C       171,996,502.00  1,009,046.15          0.00   7.04000000%
045424CW6   1000.000000000   5.866666695   0.000000000  7.04000000%
CS-1        80,220,312.51     85,108.96          0.00   1.25610635%
045424CX4    850.584381745   0.902419223   0.000000000  1.25593631%
CS-2       333,473,178.00    304,601.72          0.00   1.09610635%
045424CY2   1000.000000000   0.913421948   0.000000000  1.09593631%
CS-3       431,603,494.00    323,842.28          0.00   0.90038830%
045424CZ9   1000.000000000   0.750323583   0.000000000  0.90038830%
A-2         35,807,861.00    203,988.62          0.00   6.83610635%
045424DA3   1000.000000000   5.696755246   0.000000000  6.83593631%
A-3         35,807,861.00    205,480.62          0.00   6.88610635%
045424DB1   1000.000000000   5.738422074   0.000000000  6.88593631%
A-4         44,759,826.00    258,342.76          0.00   6.92610635%
045424DC9   1000.000000000   5.771755234   0.000000000  6.92593631%
A-5         22,379,913.00    129,730.88          0.00   6.95610635%
045424DD7   1000.000000000   5.796755331   0.000000000  6.95593631%
A-6         49,235,809.00    291,562.41          0.00   7.10610635%
045424DE5   1000.000000000   5.921755241   0.000000000  7.10593631%
A-7         71,615,722.00    446,769.09          0.00   7.48610635%
045424DF2   1000.000000000   6.238421921   0.000000000  7.48593631%
B-1         35,806,865.00    237,999.47          0.00   7.97610635%
045424DG0   1000.000000000   6.646755308   0.000000000  7.97593631%
B-1H             1,000.09          6.64          0.00   7.97610635%
045424DL9   1000.000000000   6.639402454   0.000000000  7.97593631%
P-IO       354,217,020.18          0.00          0.00
042424DK1    987.369327112   0.000000000   0.000000000
V-1                  0.00          0.00          0.00
042424DM7      0.000000000   0.000000000   0.000000000
V-2                  0.00          0.00          0.00
042424DN5      0.000000000   0.000000000   0.000000000

           881,104,849.60  5,863,713.97          0.00

Total P&I Payment          6,950,808.57

(2)Interest Paid minus Interest Adjustment minus Deferred
Interest equals Accrual    (3) Estimated

Upper REMIC

              Original                           Opening
Class         Face Value (1)                     Balance
CUSIP         Per $1,000                         Per $1,000

A-1A-U           94,311,998.00                      81,307,407.11
None             1000.000000000                      862.110959732
A-1A-U Strip     94,311,998.00 N                    81,307,407.11
None             1000.000000000                      862.110959732
A-1B-U          333,473,178.00                     333,473,178.00
None             1000.000000000                     1000.000000000
A-1B-U Strip    333,473,178.00 N                   333,473,178.00
None             1000.000000000                     1000.000000000
A-1C-U          171,996,502.00                     171,996,502.00
None             1000.000000000                     1000.000000000
A-1C-U Strip    171,996,502.00 N                   171,996,502.00
None             1000.000000000                     1000.000000000
A-2-U            35,807,861.00                      35,807,861.00
None             1000.000000000                     1000.000000000
A-2-U Strip      35,807,861.00 N                    35,807,861.00
None             1000.000000000                     1000.000000000
A-3-U            35,807,861.00                      35,807,861.00
None             1000.000000000                     1000.000000000
A-3-U Strip      35,807,861.00 N                    35,807,861.00
None             1000.000000000                     1000.000000000
A-4-U            44,759,826.00                      44,759,826.00
None             1000.000000000                     1000.000000000
A-4-U Strip      44,759,826.00 N                    44,759,826.00
None             1000.000000000                     1000.000000000
A-5-U            22,379,913.00                      22,379,913.00
None             1000.000000000                     1000.000000000
A-5-U Strip      22,379,913.00 N                    22,379,913.00
None             1000.000000000                     1000.000000000
A-6-U            49,235,809.00                      49,235,809.00
None             1000.000000000                     1000.000000000
A-6-U Strip      49,235,809.00 N                    49,235,809.00
None             1000.000000000                     1000.000000000
A-7-U            71,615,722.00                      71,615,722.00
None             1000.000000000                     1000.000000000
A-7-U Strip      71,615,722.00 N                    71,615,722.00
None             1000.000000000                     1000.000000000
B-1-U            35,806,865.00                      35,806,865.00
None             1000.000000000                     1000.000000000
B-1H-U                1,000.09                           1,000.09
None             1000.000000000                     1000.000000000
P-IO-U          358,748,252.00 N                   354,497,963.98
None             1000.000000000                      988.152449534
R                         0.00                               0.00
042424DH8        1000.000000000                        0.000000000
                895,196,535.09                     882,191,944.20

              Principal        Principal         Negative
Class         Payment          Adj. or Loss      Amortization
CUSIP         Per $1,000       Per $1,000        Per $1,000

A-1A-U            1,087,094.60              0.00             0.00
None               11.526577986       0.000000000      0.000000000
A-1A-U Strip              0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-1B-U                    0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-1B-U Strip              0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-1C-U                    0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-1C-U Strip              0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-2-U                     0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-2-U Strip               0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-3-U                     0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-3-U Strip               0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-4-U                     0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-4-U Strip               0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-5-U                     0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-5-U Strip               0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-6-U                     0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-6-U Strip               0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-7-U                     0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
A-7-U Strip               0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
B-1-U                     0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
B-1H-U                    0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
P-IO-U                    0.00              0.00             0.00
None                0.000000000       0.000000000      0.000000000
R                         0.00              0.00             0.00
042424DH8           0.000000000       0.000000000      0.000000000
                  1,087,094.60              0.00             0.00

              Closing       Interest      Interest      Pass-Through
Class         Balance       Payment       Adjustment    Rate (2)
CUSIP         Per $1,000    Per $1,000    Per $1,000    Next Rate (3)

A-1A-U       80,220,312.51    455,321.48        0.00   6.72000000%
None          850.584381745   4.827821376 0.000000000  6.72000000%
A-1A-U Strip 80,220,312.51     82,447.52        0.00   1.21682672%
None          850.584381745   0.874199696 0.000000000  1.21663938%
A-1B-U      333,473,178.00  1,911,912.89        0.00   6.88000000%
None         1000.000000000   5.733333342 0.000000000  6.88000000%
A-1B-U Strip333,473,178.00    293,686.14        0.00   1.05682672%
None         1000.000000000   0.880688941 0.000000000  1.05663938%
A-1C-U      171,996,502.00  1,009,046.15        0.00   7.04000000%
None         1000.000000000   5.866666695 0.000000000  7.04000000%
A-1C-U Strip171,996,502.00    128,542.55        0.00   0.89682672%
None         1000.000000000   0.747355606 0.000000000  0.89663938%
A-2-U        35,807,861.00    202,816.52        0.00   6.79682672%
None         1000.000000000   5.664022210 0.000000000  6.79663938%
A-2-U Strip  35,807,861.00     34,017.47        0.00   1.14000000%
None         1000.000000000   0.950000057 0.000000000  1.14000000%
A-3-U        35,807,861.00    204,308.52        0.00   6.84682672%
None         1000.000000000   5.705689039 0.000000000  6.84663938%
A-3-U Strip  35,807,861.00     32,525.47        0.00   1.09000000%
None         1000.000000000   0.908333229 0.000000000  1.09000000%
A-4-U        44,759,826.00    256,877.64        0.00   6.88682672%
None         1000.000000000   5.739022310 0.000000000  6.88663938%
A-4-U Strip  44,759,826.00     39,164.85        0.00   1.05000000%
None         1000.000000000   0.875000050 0.000000000  1.05000000%
A-5-U        22,379,913.00    128,998.32        0.00   6.91682672%
None         1000.000000000   5.764022407 0.000000000  6.91663938%
A-5-U Strip  22,379,913.00     19,022.92        0.00   1.02000000%
None         1000.000000000   0.849999730 0.000000000  1.02000000%
A-6-U        49,235,809.00    289,950.78        0.00   7.06682672%
None         1000.000000000   5.889022358 0.000000000  7.06663938%
A-6-U Strip  49,235,809.00     35,695.96        0.00   0.87000000%
None         1000.000000000   0.724999969 0.000000000  0.87000000%
A-7-U        71,615,722.00    444,424.89        0.00   7.44682672%
None         1000.000000000   6.205688885 0.000000000  7.44663938%
A-7-U Strip  71,615,722.00     29,243.09        0.00   0.49000000%
None         1000.000000000   0.408333382 0.000000000  0.49000000%
B-1-U        35,806,865.00    236,827.40        0.00   7.93682672%
None         1000.000000000   6.614022199 0.000000000  7.93663938%
B-1H-U            1,000.09          6.59        0.00   7.93682672%
None         1000.000000000   6.589406953 0.000000000  7.93663938%
P-IO-U      354,217,020.18          0.00        0.00
None          987.369327112   0.000000000 0.000000000
R                     0.00          0.00        0.00
042424DH8       0.000000000   0.000000000 0.000000000
            881,104,849.60  5,834,837.15        0.00



Lower REMIC
              Original                           Opening
Class         Face Value (1)                     Balance
CUSIP         Per $1,000                         Per $1,000

A-1A-L           94,311,998.00                      81,307,407.11
None             1000.000000000                      862.110959732
A-1B-L          333,473,178.00                     333,473,178.00
None             1000.000000000                     1000.000000000
A-1C-L          171,996,502.00                     171,996,502.00
None             1000.000000000                     1000.000000000
A-2-L            35,807,861.00                      35,807,861.00
None             1000.000000000                     1000.000000000
A-3-L            35,807,861.00                      35,807,861.00
None             1000.000000000                     1000.000000000
A-4-L            44,759,826.00                      44,759,826.00
None             1000.000000000                     1000.000000000
A-5-L            22,379,913.00                      22,379,913.00
None             1000.000000000                     1000.000000000
A-6-L            49,235,809.00                      49,235,809.00
None             1000.000000000                     1000.000000000
A-7-L            71,615,722.00                      71,615,722.00
None             1000.000000000                     1000.000000000
B-1-L            35,806,865.00                      35,806,865.00
None             1000.000000000                     1000.000000000
B-1H-L                1,000.09                           1,000.09
None             1000.000000000                     1000.000000000
LR                        0.00                               0.00
045424DJ4        1000.000000000                        0.000000000

                895,196,535.09                     882,191,944.20


              Principal   Principal     Negative
Class         Payment     Adj. or Loss  Amortization
CUSIP         Per $1,000  Per $1,000    Per $1,000

A-1A-L      1,087,094.60         0.00         0.00
None         11.526577986  0.000000000  0.000000000
A-1B-L              0.00         0.00         0.00
None          0.000000000  0.000000000  0.000000000
A-1C-L              0.00         0.00         0.00
None          0.000000000  0.000000000  0.000000000
A-2-L               0.00         0.00         0.00
None          0.000000000  0.000000000  0.000000000
A-3-L               0.00         0.00         0.00
None          0.000000000  0.000000000  0.000000000
A-4-L               0.00         0.00         0.00
None          0.000000000  0.000000000  0.000000000
A-5-L               0.00         0.00         0.00
None          0.000000000  0.000000000  0.000000000
A-6-L               0.00         0.00         0.00
None          0.000000000  0.000000000  0.000000000
A-7-L               0.00         0.00         0.00
None          0.000000000  0.000000000  0.000000000
B-1-L               0.00         0.00         0.00
None          0.000000000  0.000000000  0.000000000
B-1H-L              0.00         0.00         0.00
None          0.000000000  0.000000000  0.000000000
LR                  0.00         0.00         0.00
045424DJ4     0.000000000  0.000000000  0.000000000

            1,087,094.60         0.00         0.00


         losing          Interest          Interest      Pass-Through
Class    alance          Payment           Adjustment    Rate (2)
CUSIP    er $1,000       Per $1,000        Per $1,000    Next Rate (3)

A-1A-L     80,220,312.51     537,769.00          0.00   7.93682672%
None        850.584381745    5.702021073   0.000000000  7.93663938%
A-1B-L    333,473,178.00   2,205,599.02          0.00   7.93682672%
None       1000.000000000    6.614022253   0.000000000  7.93663938%
A-1C-L    171,996,502.00   1,137,588.69          0.00   7.93682672%
None       1000.000000000    6.614022243   0.000000000  7.93663938%
A-2-L      35,807,861.00     236,833.99          0.00   7.93682672%
None       1000.000000000    6.614022267   0.000000000  7.93663938%
A-3-L      35,807,861.00     236,833.99          0.00   7.93682672%
None       1000.000000000    6.614022267   0.000000000  7.93663938%
A-4-L      44,759,826.00     296,042.49          0.00   7.93682672%
None       1000.000000000    6.614022360   0.000000000  7.93663938%
A-5-L      22,379,913.00     148,021.24          0.00   7.93682672%
None       1000.000000000    6.614022137   0.000000000  7.93663938%
A-6-L      49,235,809.00     325,646.74          0.00   7.93682672%
None       1000.000000000    6.614022327   0.000000000  7.93663938%
A-7-L      71,615,722.00     473,667.98          0.00   7.93682672%
None       1000.000000000    6.614022267   0.000000000  7.93663938%
B-1-L      35,806,865.00     236,827.40          0.00   7.93682672%
None       1000.000000000    6.614022199   0.000000000  7.93663938%
B-1H-L          1,000.09           6.61          0.00   7.93682672%
None       1000.000000000    6.609405154   0.000000000  7.93663938%
LR                  0.00           0.00          0.00
045424DJ4     0.000000000    0.000000000   0.000000000

          881,104,849.60   5,834,837.15          0.00


Other Related Information

Total Available Funds            6,950,808.57
Principal Distribution Amount    1,087,094.60
Interest Distribution Amount     5,863,713.97

P&I Advances

              Servicer  Trustee  Fiscal Agent
Current         0.00       0.00    0.00
Unreimbursed    0.00       0.00    0.00
Totals :        0.00       0.00    0.00

Specially Serviced Loans

              Property     P&I
              Advances     Advances

Current           0.00       0.00
Unreimbursed      0.00       0.00
Totals :          0.00       0.00

Servicing Fee                        29,406.40
Trustee Fee                           3,675.80
Sepecial Servicing Compensation           0.00
Additional Servicing Compensation         0.00


Prepayment Premiums         0.00
Default Interest            0.00
Net Default Interest        0.00
Excess Interest             0.00


                       Floor Agreement Calculations

Class                  Beginning         Floor         Floor
Name                   Balance           Rate          Amount

A-1A                    81,307,407.11    0.000000%        0.00
CS-1                    81,307,407.11    0.039280%    2,661.44
A-1B                   333,473,178.00    0.000000%        0.00
CS-2                   333,473,178.00    0.039280%   10,915.59
A-1C                   171,996,502.00    0.000000%        0.00
A-1C Strip Component   171,996,502.00    0.039280%    5,629.97
A-2                     35,807,861.00    0.039280%    1,172.10
A-2 Strip Component     35,807,861.00    0.000000%        0.00
A-3                     35,807,861.00    0.039280%    1,172.10
A-3 Strip Component     35,807,861.00    0.000000%        0.00
A-4                     44,759,826.00    0.039280%    1,465.12
A-4 Strip Component     44,759,826.00    0.000000%        0.00
A-5                     22,379,913.00    0.039280%      732.56
A-5 Strip Component     22,379,913.00    0.000000%        0.00
A-6                     49,235,809.00    0.039280%    1,611.64
A-6 Strip Component     49,235,809.00    0.000000%        0.00
A-7                     71,615,722.00    0.039280%    2,344.20
A-7 Strip Component     71,615,722.00    0.000000%        0.00
B-1 & B-1H              35,807,865.09    0.039280%    1,172.10

Totals :                                             28,876.81


REO Property Information
              Date
              Loan
Property      Became      Principal
Name          REO         Balance
 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         0.00
 0.00             0.00         0.00


                            Final
              Updated       Recovery
Property      Appraised     Determination
Name          Value         Date
 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           0.00
 0.00             0.00           0.00


              Proceeds         Cumulative
              Deposited in     REO
Property      Collection       Revenues
Name          Account          Collected
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              0.00
0.00             0.00              0.00


Certificate Interest Allocations

              Accrued          Interest
Class         Interest         Distributed

A-1A                455,321.48        455,321.48
A-1B              1,911,912.89      1,911,912.89
A-1C              1,009,046.15      1,009,046.15
CS-1                 85,108.96         85,108.96
CS-2                304,601.72        304,601.72
CS-3                323,842.28        323,842.28
A-2                 203,988.62        203,988.62
A-3                 205,480.62        205,480.62
A-4                 258,342.76        258,342.76
A-5                 129,730.88        129,730.88
A-6                 291,562.41        291,562.41
A-7                 446,769.09        446,769.09
B-1                 237,999.47        237,999.47
B-1H                      6.64              6.64
P-IO                      0.00              0.00
V-1                       0.00              0.00
V-2                       0.00              0.00


              Beginning        Ending
              Unpaid           Unpaid
Class         Interest         Interest

A-1A             0.00              0.00
A-1B             0.00              0.00
A-1C             0.00              0.00
CS-1             0.00              0.00
CS-2             0.00              0.00
CS-3             0.00              0.00
A-2              0.00              0.00
A-3              0.00              0.00
A-4              0.00              0.00
A-5              0.00              0.00
A-6              0.00              0.00
A-7              0.00              0.00
B-1              0.00              0.00
B-1H             0.00              0.00
P-IO             0.00              0.00
V-1              0.00              0.00
V-2              0.00              0.00
                           

Current Realized Losses        0.00
Cumulative Realized Losses     0.00

Prepayment Interest Shortfall               0.00
Servicer Prepayment Interest Shortfall      0.00


Beginning Stated Principal Balance      882,191,944.21

Outstanding Purchased or Repurchased Loans      0.00

Repurchase Price pursuant to 2.03(d)            0.00
Repurchase Price pursuant to 2.03(e)            0.00
Repurchase Price pursuant to 3.18               0.00
Repurchase Price pursuant to 9.01(c)            0.00

Beginning Reserve Account Balance               0.00


Distribution  Delinq 1 Month
Date          #                Balance
       7/15/98               0                 0
                          0.00%            0.000%
       6/15/98               0                 0
                          0.00%            0.000%
       5/13/98               0                 0
                          0.00%            0.000%
       4/15/98               0                 0
                          0.00%            0.000%
       3/13/98               0                 0
                          0.00%            0.000%
       2/13/98               0                 0
                          0.00%            0.000%
       1/14/98               0                 0
                          0.00%            0.000%
      12/15/97               0                 0
                          0.00%            0.000%
      11/14/97               0                 0
                          0.00%            0.000%
      10/16/97               0                 0
                          0.00%            0.000%
       9/15/97               0                 0
                          0.00%            0.000%
       8/13/97               0                 0
                          0.00%            0.000%
       7/15/97               0                 0
                          0.00%            0.000%
       6/13/97               0                 0
                          0.00%            0.000%
       5/14/97               0                 0
                          0.00%            0.000%
       4/15/97               0                 0
                          0.00%            0.000%

Distribution  Delinq 2 Months
Date          #                Balance
       7/15/98               0                 0
                          0.00%            0.000%
       6/15/98               0                 0
                          0.00%            0.000%
       5/13/98               0                 0
                          0.00%            0.000%
       4/15/98               0                 0
                          0.00%            0.000%
       3/13/98               0                 0
                          0.00%            0.000%
       2/13/98               0                 0
                          0.00%            0.000%
       1/14/98               0                 0
                          0.00%            0.000%
      12/15/97               0                 0
                          0.00%            0.000%
      11/14/97               0                 0
                          0.00%            0.000%
      10/16/97               0                 0
                          0.00%            0.000%
       9/15/97               0                 0
                          0.00%            0.000%
       8/13/97               0                 0
                          0.00%            0.000%
       7/15/97               0                 0
                          0.00%            0.000%
       6/13/97               0                 0
                          0.00%            0.000%
       5/14/97               0                 0
                          0.00%            0.000%
       4/15/97               0                 0
                          0.00%            0.000%

Distribution  Delinq 3+  Months
Date          #                Balance
       7/15/98               0                 0
                          0.00%            0.000%
       6/15/98               0                 0
                          0.00%            0.000%
       5/13/98               0                 0
                          0.00%            0.000%
       4/15/98               0                 0
                          0.00%            0.000%
       3/13/98               0                 0
                          0.00%            0.000%
       2/13/98               0                 0
                          0.00%            0.000%
       1/14/98               0                 0
                          0.00%            0.000%
      12/15/97               0                 0
                          0.00%            0.000%
      11/14/97               0                 0
                          0.00%            0.000%
      10/16/97               0                 0
                          0.00%            0.000%
       9/15/97               0                 0
                          0.00%            0.000%
       8/13/97               0                 0
                          0.00%            0.000%
       7/15/97               0                 0
                          0.00%            0.000%
       6/13/97               0                 0
                          0.00%            0.000%
       5/14/97               0                 0
                          0.00%            0.000%
       4/15/97               0                 0
                          0.00%            0.000%

Distribution  Foreclosure/Bankruptcy
Date          #                Balance
       7/15/98               0                 0
                          0.00%            0.000%
       6/15/98               0                 0
                          0.00%            0.000%
       5/13/98               0                 0
                          0.00%            0.000%
       4/15/98               0                 0
                          0.00%            0.000%
       3/13/98               0                 0
                          0.00%            0.000%
       2/13/98               0                 0
                          0.00%            0.000%
       1/14/98               0                 0
                          0.00%            0.000%
      12/15/97               0                 0
                          0.00%            0.000%
      11/14/97               0                 0
                          0.00%            0.000%
      10/16/97               0                 0
                          0.00%            0.000%
       9/15/97               0                 0
                          0.00%            0.000%
       8/13/97               0                 0
                          0.00%            0.000%
       7/15/97               0                 0
                          0.00%            0.000%
       6/13/97               0                 0
                          0.00%            0.000%
       5/14/97               0                 0
                          0.00%            0.000%
       4/15/97               0                 0
                          0.00%            0.000%

Distribution  REO
Date          #                Balance
       7/15/98               0                 0
                          0.00%            0.000%
       6/15/98               0                 0
                          0.00%            0.000%
       5/13/98               0                 0
                          0.00%            0.000%
       4/15/98               0                 0
                          0.00%            0.000%
       3/13/98               0                 0
                          0.00%            0.000%
       2/13/98               0                 0
                          0.00%            0.000%
       1/14/98               0                 0
                          0.00%            0.000%
      12/15/97               0                 0
                          0.00%            0.000%
      11/14/97               0                 0
                          0.00%            0.000%
      10/16/97               0                 0
                          0.00%            0.000%
       9/15/97               0                 0
                          0.00%            0.000%
       8/13/97               0                 0
                          0.00%            0.000%
       7/15/97               0                 0
                          0.00%            0.000%
       6/13/97               0                 0
                          0.00%            0.000%
       5/14/97               0                 0
                          0.00%            0.000%
       4/15/97               0                 0
                          0.00%            0.000%

Distribution  Modifications
Date          #                Balance
       7/15/98               0                 0
                          0.00%            0.000%
       6/15/98               0                 0
                          0.00%            0.000%
       5/13/98               0                 0
                          0.00%            0.000%
       4/15/98               0                 0
                          0.00%            0.000%
       3/13/98               0                 0
                          0.00%            0.000%
       2/13/98               0                 0
                          0.00%            0.000%
       1/14/98               0                 0
                          0.00%            0.000%
      12/15/97               0                 0
                          0.00%            0.000%
      11/14/97               0                 0
                          0.00%            0.000%
      10/16/97               0                 0
                          0.00%            0.000%
       9/15/97               0                 0
                          0.00%            0.000%
       8/13/97               0                 0
                          0.00%            0.000%
       7/15/97               0                 0
                          0.00%            0.000%
       6/13/97               0                 0
                          0.00%            0.000%
       5/14/97               0                 0
                          0.00%            0.000%
       4/15/97               0                 0
                          0.00%            0.000%

Distribution  Prepayments
Date          #                Balance
       7/15/98               0                 0
                          0.00%            0.000%
       6/15/98               0                 0
                          0.00%            0.000%
       5/13/98               0                 0
                          0.00%            0.000%
       4/15/98               0                 0
                          0.00%            0.000%
       3/13/98               0                 0
                          0.00%            0.000%
       2/13/98               0                 0
                          0.00%            0.000%
       1/14/98               0                 0
                          0.00%            0.000%
      12/15/97               0                 0
                          0.00%            0.000%
      11/14/97               0                 0
                          0.00%            0.000%
      10/16/97               0                 0
                          0.00%            0.000%
       9/15/97               0                 0
                          0.00%            0.000%
       8/13/97               0                 0
                          0.00%            0.000%
       7/15/97               0                 0
                          0.00%            0.000%
       6/13/97               0                 0
                          0.00%            0.000%
       5/14/97               0                 0
                          0.00%            0.000%
       4/15/97               0                 0
                          0.00%            0.000%

Distribution  Curr Weighted Avg.
Date          Coupon           Remit
       7/15/98          7.9818%           7.9368%

       6/15/98          8.2464%           8.2014%

       5/13/98          7.9822%           7.9372%

       4/15/98          8.2614%           8.2164%

       3/13/98          7.6295%           7.5845%

       2/13/98          8.1421%           8.0971%

       1/14/98          8.2910%           8.2460%

      12/15/97          7.9831%           7.9381%

      11/14/97          8.2364%           8.1914%

      10/16/97          7.9833%           7.9383%

       9/15/97          8.2414%           8.1964%

       8/13/97          8.2625%           8.2175%

       7/15/97          7.9960%           7.9510%

       6/13/97          8.2626%           8.2176%

       5/14/97          7.9961%           7.9511%

       4/15/97          8.1592%           8.1142%

Specially Serviced Loan Detail
              Beginning
Disclosure    Scheduled        Interest          Maturity
Control #     Balance          Rate              Date









                               Specially
Disclosure    Property         Serviced
Control #     Type             Status Code (1)   Comments










(1)           Legend :
              1)  Request for waiver of Prepayment Penalty
              2)   Payment default
              3)   Request for Loan Modification or Workout
              4)  Loan with Borrower Bankruptcy
              5)  Loan in Process of Foreclosure
              6)  Loan now REO Property
              7)  Loans Paid Off
              8)  Loans Returned to Master Servicer

Modified Loan Detail

Disclosure    Modification     Modification
Control #     Date             Description








Realized Loss Detail

Dist.         Disclosure       Appraisal
Date          Control #        Date
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
             0                0                 0
Current Total                                   0
Cumulative                                      0


  *     Aggregate liquidation expenses also include outstanding 
  P&I advances and unpaid servicing fees, unpaid trustee fees, etc..


Disclosure    Appraisal        Scheduled         Gross
Control #     Value            Balance           Proceeds
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
  0                0                 0                0
                          

              Gross Proceeds   Aggregate         Net
Disclosure    as a % of        Liquidation       Liquidation
Control #     Sched Principal  Expenses *        Proceeds
 0                                  0
 0                                  0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0
 0                0                 0                0

              Net Proceeds
Disclosure    as a % of        Realized
Control #     Sched. Balance   Loss
 0
 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0
 0                0                 0




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