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 (Date of earliest event reported) December
25, 1996
Salomon Bros Mortgage Securities VII, Inc. 1996-LB2
(Exact name of registrant as specified in its charter)
New York n/a
Applied For
(State or other jurisdiction (Commission
(IRS Employer
of incorporation or File Number)
Identification
organization) Number)
c/o Norwest Bank Minnesota
National Association
Sixth Street & Marquette Avenue
Minneapolis, Minnesota 55479-0069
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number including area code (612)
984-0979
Salomon Bros Mortgage Securities VII, Inc. 1996-LB2
Form 8-K
INDEX
Page Number
Item 5. Other Events
3
Item 7. Financial Statements and Exhibits
3
SIGNATURES 4
INDEX OF EXHIBITS 5
ITEM 5. OTHER EVENTS
The Salomon Bros Mortgage Securities VII, Inc. 1996-LB2
makes monthly remittances to security holders. The latest
remittance was made December 25, 1996. We have furnished a
monthly remittance statement delivered to the trustee with
security holder payment instructions.
Monthly Remittance
Statement...................................................
......Exhibit 21.1
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
21.1 Monthly Remittance Statement dated as of December
25, 1996.
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.
Salomon Bros Mortgage Securities
VII, Inc. 1996-
LB1A
(Registrant)
By: Norwest Bank of Minnesota,
N.A.
Name: Kris Solie - Johnson
Title: Corporate Trust Officer
INDEX OF EXHIBITS
Page of Sequentially
Numbered Pages
21.1 Monthly Remittance Statement dated 8-16
as of December 25, 1996.
21.2 No-Action Letter 6-7
Page 6 Exhibit 21.2
January 10, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
Dear Sirs:
Enclosed herewith for filing on behalf of the trust
fund (the "Trust") created pursuant to a Trust Agreement
dated as of November 1, 1996 (the "Trust Agreement") among
Salomon Brothers Mortgage Securities VII, Inc., as depositor
(the "Depositor"), and Norwest Bank Minnesota, N.A., as
trustee (the "Trustee"), is the Current Report on Form 8-K
(the "Report").
The Trust consists of primarily a segregated pool of
conventional, one-to four-family, fixed-rate, fully-
amortizing first lien mortgage loans. The certificates
relating to then of such classes as registered under the
Securities Act of 1933, as amended, by a Registration
Statement on Form S-11. As a result, the Trust is subject
to the filing requirements of Section 15(d) of the
Securities Exchange Act of 1934, as amended (the "Exchange
Act"). The Trust intends to fulfill these filing
requirements in a manner substantially in accordance with
the procedures outlined in numerous no-action letters
already issued by the staff with respect to substantially
similar trusts.
In particular:
1. The Trust has already filed, within 15 days of its
formation, a Current Report on Form 8-K containing detailed
information about its mortgage pool
2. The Trust will file, promptly after each
Distribution Date (as defined in the Trust Agreement), a
Current Report on Form 8-K in substantially the form
enclosed herewith, including as exhibits thereto the
applicable Distribution Date reports. Each such Current
Report will also disclose under Item 5 any matter occurring
during the relevant reporting period which would be
reportable under Item 1,2,4, or 5 of Part II of Form 10-Q.
3. The Trust will file a Current Report on Form 8-K
within 15 days after the occurrence of any event described
under Item 2,3,4, of 5 thereof, responding to the
requirements of the applicable Item.
4. Within 90 days after the end of each fiscal year,
the Trust will file an annual report on Form 10-K which
responds to Items 2, 3, and 4 of Part I, Items 5 and 9
Page 7 Exhibit 21.2
of Part II, Items 12 and 13 of Part III and Item 14 of Part
IV thereof, and include as
exhibits thereto certain information from the Distribution
Date reports aggregated for such year and a copy of the
independent accountants' annual compliance statement
required under the Trust Agreement, in the manner described
in the applicable no-action letters.
The trust will follow the above procedures except for
any fiscal year as to which its reporting obligations under
Section 15(d) of the Exchange Act have been have been
suspended pursuant to such Section. In such event, the
Trust will file a Form 15 as required under rule 15d 6.
We have been advised by representatives of the Office
of the Chief Counsel of the Division of Corporation Finance
that following the above procedures would be acceptable. We
assume that the staff will promptly inform us if our
understanding is incorrect. Please direct any questions to
Shaydra Robinson of Norwest Bank Minnesota, N.A. at (410)
884-2112.
Very truly yours,
Shaydra Robinson
Page 8 Exhibit 21.1
Salomon
Brothers Mortgage Securities VII, Series 1996 - LB2
Norwest Bank Minnesota, N.A.
Contact: Drew Persons
Securities Administration Services
Reporting Month: November 1996
Phone: (410) 884-2108
11000 Broken Land Parkway
Distribution Date: December 26, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Series Structure Summary
Aggregate Realized Aggregate
Ending
Class
Original Principal Losses Principal
Aggregate Interest Undistributed Principal
Class Description Principal Type Interest Type
Balance Pass Through Rate Balance Reduction
Shortfall Principal Factor
A-1 Senior Sequential Pay Fixed
39,630,000.00 6.87500000% 0.00
0.00 0.00 0.9506555198
A-2 Senior Sequential Pay Fixed
16,280,000.00 6.75000000% 0.00
0.00 0.00 1.0000000000
A-3 Senior Sequential Pay Fixed
82,902,000.00 6.87500000% 0.00
0.00 0.00 1.0000000000
A-4 Senior Sequential Pay Fixed
9,235,000.00 7.00000000% 0.00
0.00 0.00 1.0000000000
A-5 Senior Sequential Pay Fixed
56,145,000.00 7.25000000% 0.00
0.00 0.00 1.0000000000
A-6 Senior Sequential Pay Fixed
20,401,000.00 7.30000000% 0.00
0.00 0.00 1.0000000000
A-7 Senior Sequential Pay Fixed
28,154,000.00 7.65000000% 0.00
0.00 0.00 1.0000000000
A-8 Senior Sequential Pay Fixed
35,581,549.00 7.80000000% 0.00
0.00 0.00 1.0000000000
XS Senior Interest Only Interest Only
0.00 2.63052990% 0.00 0.00
0.00 0.0000000000
PO Senior Principal Only Principal Only
1,024,864.08 0.00000000% 0.00
0.00 0.00 0.9962618458
B-1 Subordinate Prorata Fixed
7,716,096.00 8.10000000% 0.00
0.00 0.00 0.9989493651
B-2 Subordinate Prorata Fixed
4,783,979.00 8.10000000% 0.00
0.00 0.00 0.9989493641
B-3 Subordinate Prorata Fixed
3,395,082.00 8.10000000% 0.00
0.00 0.00 0.9989493656
B-4 Subordinate Prorata Fixed
3,395,084.72 8.10000000% 0.00
0.00 0.00 0.9989493664
R-I Residual Sequential Pay Fixed
100.00 0.00000000% 0.00
0.00 0.00 0.0000000000
R-II Residual Sequential Pay Fixed
100.00 0.00000000% 0.00
0.00 0.00 0.0000000000
____________________________________________________________
____________________________________________________________
_______________________________________________
Totals
308,643,854.80 0.00
0.00 0.00 0.9935854227
Page 9 Exhibit 21.1
Salomon Brothers
Mortgage Securities VII, Series 1996 - LB2
Norwest Bank Minnesota, N.A.
Contact: Drew Persons
Securities Administration Services
Reporting Month: November 1996 Phone:
(410) 884-2108
11000 Broken Land Parkway
Distribution Date: December 26, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Class Distribution Summary
Beginning
Principal Ending
Pass Through
Principal Total Interest Total Principal
Balance Principal Total
Class Record Date Rate
Balance Distribution Distribution
Reduction Balance Distribution
A-1 11/29/1996 6.87500000%
38,874,667.88 222,719.45 1,200,189.63
0.00 37,674,478.25 1,422,909.08
A-2 11/29/1996 6.75000000%
16,280,000.00 91,575.00 0.00
0.00 16,280,000.00 91,575.00
A-3 11/29/1996 6.87500000%
82,902,000.00 474,959.38 0.00
0.00 82,902,000.00 474,959.38
A-4 11/29/1996 7.00000000%
9,235,000.00 53,870.83 0.00
0.00 9,235,000.00 53,870.83
A-5 11/29/1996 7.25000000%
56,145,000.00 339,209.38 0.00
0.00 56,145,000.00 339,209.38
A-6 11/29/1996 7.30000000%
20,401,000.00 124,106.08 0.00
0.00 20,401,000.00 124,106.08
A-7 11/29/1996 7.65000000%
28,154,000.00 179,481.75 0.00
0.00 28,154,000.00 179,481.75
A-8 11/29/1996 7.80000000%
35,581,549.00 231,280.07 0.00
0.00 35,581,549.00 231,280.07
XS 11/29/1996 2.63052990%
0.00 674,901.07 0.00
0.00 0.00 674,901.07
PO 11/29/1996 0.00000000%
1,024,268.77 0.00 3,235.79
0.00 1,021,032.98 3,235.79
B-1 11/29/1996 8.10000000%
7,712,054.00 52,056.36 4,064.80
0.00 7,707,989.20 56,121.16
B-2 11/29/1996 8.10000000%
4,781,472.96 32,274.94 2,520.18
0.00 4,778,952.78 34,795.12
B-3 11/29/1996 8.10000000%
3,393,303.52 22,904.80 1,788.51
0.00 3,391,515.01 24,693.31
B-4 11/29/1996 8.10000000%
3,393,306.24 22,904.82 1,788.51
0.00 3,391,517.73 24,693.33
R-I 11/29/1996 0.00000000%
0.00 0.00 0.00
0.00 0.00 0.00
R-II 11/29/1996 0.00000000%
0.00 0.00 0.00
0.00 0.00 0.00
____________________________________________________________
__________
Totals
307,877,622.37 2,522,243.93 1,213,587.42
0.00 306,664,034.95 3,735,831.35
Page 10 Exhibit 21.1
Salomon Brothers
Mortgage Securities VII, Series 1996 - LB2
Norwest Bank Minnesota, N.A.
Contact: Drew Persons
Securities Administration Services Reporting
Month: November 1996 Phone:
(410) 884-2108
11000 Broken Land Parkway Distribution
Date: December 26, 1996 InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800
Class Distribution
Per 1,000 of Original Balance
Total Other
Total
Interest Scheduled Principal Total Principal
Principal Ending
Distribution Principal Distribution Distribution
Balance Principal
Class Cusip Original Balance
Factor Factor Factor Factor
Reduction Factor
A-1 79548KRT7 39,630,000.00
5.61997098 3.82466616 26.46020969 30.28487585
0.00000000 0.9506555198
A-2 79548KRU4 16,280,000.00
5.62500000 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
A-3 79548KRV2 82,902,000.00
5.72916673 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
A-4 79548KRW0 9,235,000.00
5.83333297 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
A-5 79548KRX8 56,145,000.00
6.04166676 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
A-6 79548KRY6 20,401,000.00
6.08333317 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
A-7 79548KRZ3 28,154,000.00
6.37500000 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
A-8 79548KSA7 35,581,549.00
6.50000004 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
XS 79548KSC3 0.00
N/A N/A N/A N/A
N/A N/A
PO 79548KSB5 1,024,864.08
0.00000000 0.58424333 2.57304364 3.15728696
0.00000000 0.9962618458
B-1 79548KSF6 7,716,096.00
6.74646350 0.52679490 0.00000000 0.52679490
0.00000000 0.9989493651
B-2 N/A 4,783,979.00
6.74646356 0.52679579 0.00000000 0.52679579
0.00000000 0.9989493641
B-3 N/A 3,395,082.00
6.74646444 0.52679435 0.00000000 0.52679435
0.00000000 0.9989493656
B-4 N/A 3,395,084.72
6.74646493 0.52679392 0.00000000 0.52679392
0.00000000 0.9989493664
R-I 79548KSD1 100.00
0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.0000000000
R-II 79548KSE9 100.00
0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.0000000000
Totals 308,643,854.80
0.9935854227
Page 11 Exhibit 21.1
Salomon
Brothers Mortgage Securities VII, Series 1996 - LB2
Norwest Bank Minnesota, N.A.
Contact: Drew Persons
Securities Administration Services
Reporting Month: November 1996
Phone: (410) 884-2108
11000 Broken Land Parkway
Distribution Date: December 26, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Class Principal Distribution
Beginning
Principal Ending Current
Principal Scheduled
Unscheduled Other Total
Principal Balance Principal Undistributed
Class Balance Principal
Principal Accretion Principal Distribution
Reduction* Balance Principal
A-1 38,874,667.88 151,571.52
1,048,618.11 0.00 0.00
1,200,189.63 0.00 37,674,478.25
0.00
A-2 16,280,000.00 0.00
0.00 0.00 0.00 0.00
0.00 16,280,000.00 0.00
A-3 82,902,000.00 0.00
0.00 0.00 0.00 0.00
0.00 82,902,000.00 0.00
A-4 9,235,000.00 0.00
0.00 0.00 0.00 0.00
0.00 9,235,000.00 0.00
A-5 56,145,000.00 0.00
0.00 0.00 0.00 0.00
0.00 56,145,000.00 0.00
A-6 20,401,000.00 0.00
0.00 0.00 0.00 0.00
0.00 20,401,000.00 0.00
A-7 28,154,000.00 0.00
0.00 0.00 0.00 0.00
0.00 28,154,000.00 0.00
A-8 35,581,549.00 0.00
0.00 0.00 0.00 0.00
0.00 35,581,549.00 0.00
XS 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
PO 1,024,268.77 598.77
2,637.02 0.00 0.00 3,235.79
0.00 1,021,032.98 0.00
B-1 7,712,054.00 4,064.80
0.00 0.00 0.00 4,064.80
0.00 7,707,989.20 0.00
B-2 4,781,472.96 2,520.18
0.00 0.00 0.00 2,520.18
0.00 4,778,952.78 0.00
B-3 3,393,303.52 1,788.51
0.00 0.00 0.00 1,788.51
0.00 3,391,515.01 0.00
B-4 3,393,306.24 1,788.51
0.00 0.00 0.00 1,788.51
0.00 3,391,517.73 0.00
R-I 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
R-II 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
Totals 307,877,622.37 162,332.29
1,051,255.13 0.00 0.00
1,213,587.42 0.00 306,664,034.95
0.00
Page 12 Exhibit 21.1
Salomon
Brothers Mortgage Securities VII, Series 1996 - LB2
Norwest Bank Minnesota, N.A.
Contact: Drew Persons
Securities Administration Services
Reporting Month: November 1996
Phone: (410) 884-2108
11000 Broken Land Parkway
Distribution Date: December 26, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Class Interest Distribution
Beginning
Negative Ending
Principal/
Interest Amortization
Principal/
Notional
Interest Shortfall/ Other
Interest Total Interest Notional
Class Pass-Through Rate Balance
Accrual (Recovery) Accretion Interest
Reduction Distribution Balance
A-1 6.87500000% 38,874,667.88
222,719.45 0.00 0.00
0.00 0.00 222,719.45 37,674,478.25
A-2 6.75000000% 16,280,000.00
91,575.00 0.00 0.00 0.00
0.00 91,575.00 16,280,000.00
A-3 6.87500000% 82,902,000.00
474,959.38 0.00 0.00
0.00 0.00 474,959.38 82,902,000.00
A-4 7.00000000% 9,235,000.00
53,870.83 0.00 0.00 0.00
0.00 53,870.83 9,235,000.00
A-5 7.25000000% 56,145,000.00
339,209.38 0.00 0.00
0.00 0.00 339,209.38 56,145,000.00
A-6 7.30000000% 20,401,000.00
124,106.08 0.00 0.00
0.00 0.00 124,106.08 20,401,000.00
A-7 7.65000000% 28,154,000.00
179,481.75 0.00 0.00
0.00 0.00 179,481.75 28,154,000.00
A-8 7.80000000% 35,581,549.00
231,280.07 0.00 0.00
0.00 0.00 231,280.07 35,581,549.00
XS 2.63052990% 307,877,622.37
674,901.07 0.00 0.00
0.00 0.00 674,901.07 306,664,034.95
PO 0.00000000% 1,024,864.08
0.00 0.00 0.00 0.00
0.00 0.00 1,021,032.98
B-1 8.10000000% 7,712,054.00
52,056.36 0.00 0.00 0.00
0.00 52,056.36 7,707,989.20
B-2 8.10000000% 4,781,472.96
32,274.94 0.00 0.00 0.00
0.00 32,274.94 4,778,952.78
B-3 8.10000000% 3,393,303.52
22,904.80 0.00 0.00 0.00
0.00 22,904.80 3,391,515.01
B-4 8.10000000% 3,393,306.24
22,904.82 0.00 0.00 0.00
0.00 22,904.82 3,391,517.73
R-I 0.00000000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
R-II 0.00000000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
Totals
2,522,243.93 0.00 0.00
0.00 0.00 2,522,243.93
Page 13 Exhibit 21.1
Salomon
Brothers Mortgage Securities VII, Series 1996 - LB2
Norwest Bank Minnesota, N.A.
Contact: Drew Persons
Securities Administration Services
Reporting Month: November 1996
Phone: (410) 884-2108
11000 Broken Land Parkway
Distribution Date: December 26, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Fund Account Summary
____________________________________________________________
____________________________________________________________
______________________________________________________
Proceeds Account
Beginning Balance
0.00
DEPOSITS:
WITHDRAWALS:
Interest Net of Servicing Fee 2,559,216.85
Interest Payments 2,522,243.93
Scheduled Principal 162,332.29
Scheduled Principal Payment 162,332.29
Other Principal 1,051,255.13
Other Principal Payments 1,051,255.13
Negative Amortization 0.00
Reserve Fund 1 0.00
Deposits from Reserve Fund 0.00
Fees and Expenses 36,972.92
Gain/Loss Adjustment 0.00
Other Withdrawals 0.00
Other Deposits 0.00
Total Deposit
3,772,804.27 Total Withdrawals
3,772,804.27
Ending Balance
0.00
Page 14 Exhibit 21.1
Salomon
Brothers Mortgage Securities VII, Series 1996 - LB2
Norwest Bank Minnesota, N.A.
Contact: Drew Persons
Securities Administration Services
Reporting Month: November 1996
Phone: (410) 884-2108
11000 Broken Land Parkway
Distribution Date: December 26, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Loss/Delinquency Detail
Current Current Current
Current Total Aggregate Aggregate
Aggregate Aggregate Total
Fraud Bankruptcy Special Hazard
Credit Current Fraud Bankruptcy
Special Hazard Credit Aggregate
Pool # Losses Losses Losses
Losses Losses Losses Losses
Losses Losses Losses
____________________________________________________________
____________________________________________________________
_________________________________________________
X 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
____________________________________________________________
____________________________________________________________
_________________________________________________
Totals 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00
Pool
Initial Loss Current Loss Current Loss
# Loss Type
Limit Amount Limit Amount Limit Percent
____________________________________________________________
______________________________________________________
X Bankruptcy Losses
100,000.00 100,000.00 0.03260898%
X Fraud Losses
9,262,389.00 9,262,389.00 3.02037016%
X Special Hazard Losses
3,087,463.00 3,087,463.00 1.00679005%
____________________________________________________________
____________________________________________________________
________________________________________
30 Days Delinquent 60 Days Delinquent
90 Days Delinquent Foreclosures
REO's Totals
Number Balance Number Balance
Number Balance Number Balance Number
Balance Number Balance
X 1091 3 142,606.09
1 74,863.49 34 2,427,182.99 8
737,023.27 1137 111,921,693.64
87 8,614,636.31 21 1,576,927.37
4 217,469.58 34 2,427,182.99 0
0.00 146 12,836,216.25
____________________________________________________________
____________________________________________________________
________________________________________
Totals 1178 24 1,719,533.46
5 292,333.07 68 4,854,365.98 8
737,023.27 1283 124,757,909.89
Page 15 Exhibit 21.1
Salomon Brothers
Mortgage Securities VII, Series 1996 - LB2
Norwest Bank Minnesota, N.A.
Contact: Drew Persons
Securities Administration Services Reporting
Month: November 1996 Phone:
(410) 884-2108
11000 Broken Land Parkway
Distribution Date: December 26, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Collateral Summary
Total| Pool X
____________________________________________________________
_____________________________________________
Monthly P&I Constant
2,849,831.48| 2,849,831.48
|
Positive Amortization
162,332.29| 162,332.29
Negative Amortization
0.00| 0.00
Regular Curtailments
41,337.78| 41,337.78
Regular Curtailment Interest
0.00| 0.00
Prepaid Curtailments
0.00| 0.00
Prepaid Curtailment Interest
0.00| 0.00
Liquidations
1,009,683.85| 1,009,683.85
Principal Adjustments
233.50| 233.50
Total Principal Trust Distribution
1,213,587.42| 1,213,587.42
|
Scheduled Interest
2,687,499.19| 2,687,499.19
Servicing Fee
128,282.34| 128,282.34
Master Servicing Fee
1,026.26| 1,026.26
Spread
0.00| 0.00
Total Pass-Through Interest
2,558,190.59| 2,558,190.59
|
Beginning Balance
307,877,622.37| 307,877,622.37
Ending Balance
306,664,034.95| 306,664,034.95
Gross P&I Distribution
3,772,804.27| 3,772,804.27
Realized Losses/(Gains)
0.00| 0.00
Net P&I Trust Distribution
3,772,804.27| 3,772,804.27
|
Beginning Loan Count
3358| 3358
Number of Loan Payoffs
13| 13
Ending Loan Count
3345| 3345
|
Weighted Average Maturity
345.7844318800| 345.7844318800
Weighted Average Gross Rate
10.474938060%| 10.474938060%
Weighted Average Net Rate
9.974938080%| 9.974938080%
Weighted Average Pass-Through Rate
9.970938070%| 9.970938070%
Weighted Average Margin
0.000000000%| 0.000000000%
|
Advances on Delinquencies
|
Current Period Principal
0.00| 0.00
Current Period Interest
0.00| 0.00
Page 16 Exhibit 21.1
Salomon Brothers
Mortgage Securities VII, Series 1996 - LB2
Norwest Bank Minnesota, N.A.
Contact: Drew Persons
Securities Administration Services
Reporting Month: November 1996
Phone: (410) 884-2108
11000 Broken Land Parkway
Distribution Date: December 26, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Credit Enhancement Summary
Initial Current Current
Current Current Current
Coverage Period Period Cumulative
Coverage Coverage Pool
Type/Purpose
Amount Losses Additions Losses
Percentage Amount Balance
____________________________________________________________
____________________________________________________________
___________________________________________
Subordination
19,290,241.72 0.00 0.00
0.00 6.28374133% 19,269,974.72 306,664,034.95
Scheduled Unscheduled
Principal Principal
Percentage Percentage
Pool #
____________________________________________________________
_______________________________________
X Senior
93.71682385% 100.00000000%
X Subordinate
6.28317615% 0.00000000%
