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Previous: ADVANTAGE LEARNING SYSTEMS INC, 8-A12G, 1997-02-28 |
Next: GLOBAL STRATEGIC INCOME PORTFOLIO, N-8A, 1997-02-28 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
______________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event report) February 15, 1997
---------------------
The Money Store Inc. (as Representative under a
Pooling and Servicing Agreement dated as of
November 30, 1996 providing for the issuance of
TMS Asset Backed Certificates, Series 1996-D) and
each of the Originators listed on Schedule A
attached hereto.
The Money Store, Inc.
-------------------------------------
(Exact name of registrant as specified in its charter)
New Jersey 33-58128-35 Applied For
- ---------- ----------- -----------
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
---------------------------------------------
(Address of principal executive officer)
Registrant's Telephone Number,
including area code: (908) 686-2000
--------------
n/a
-----------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5 Other Events
------------
Attached herein as Annex A is a copy of the Monthly Statement sent to Class
A Certificate holders with respect to the February 15, 1997 Remittance Date.
Item 7 Financial Statements and Exhibits
---------------------------------
The quarterly financial statement for the period ended September 30, 1996
for MBIA Inc. is incorporated by reference to the Form 10Q filed by MBIA Inc.
with the Securities and Exchange Commission on November 14, 1996.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE MONEY STORE INC.
By: /s/ Harry Puglisi
-------------------------
Harry Puglisi
Treasurer
Dated: February 28, 1997
<PAGE>
Schedule A
List of Originators
-------------------
1996-D
------
The Money Store/Minnesota Inc.
The Money Store/D.C. Inc.
The Money Store/ Kentucky Inc.
The Money Store Home Equity Corp.
TMS Mortgage Inc.
<PAGE>
<TABLE>
<CAPTION>
SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.10 OF THE POOLING AND SERVICING
AGREEMENT DATED AS OF NOVEMBER 30, 1996, THE MONEY STORE INC.
REPORTS THE FOLLOWING INFORMATION PERTAINING TO SERIES 1996-D
FOR THE FEBRUARY 12, 1997 DETERMINATION DATE.
POOL I POOL II POOL III POOL IV
<S> <C> <C> <C> <C>
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $7,550,741.24 $4,893,721.32 $3,285,484.31 $108,628.25
ADJ : RECALCULATION 0.00 0.00 0.00 0.00
--------------------------------------------------------------
7,550,741.24 4,893,721.32 3,285,484.31 108,628.25
LESS: SERVICE FEE (7.03 & 5.04) 74,317.59 63,568.93 29,393.07 2,262.18
CONTINGENCY FEE (7.03 & 5.04) 74,317.59 63,568.93 29,393.07 2,262.18
OTHER SERVICER FEES (Late Charges / Escrow)
(7.03 & 5.04) 25,693.17 19,890.23 4,109.21 0.00
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00 0.00
--------------------------------------------------------------
174,328.35 147,028.09 62,895.35 4,524.36
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 90,422.30 7,085.96 0.00 0.00
PRE-FUNDING ACCOUNT TRANSFER (6.02) 488,037.98 108,647.21 147,357.27 20.21
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 139,433.39 10,750.56 31,275.76 (20.21)
--------------------------------------------------------------
717,893.67 126,483.74 178,633.04 0.00
LESS: EXCESS SPREAD (I-19) 1,471,521.01 731,890.77 556,566.81 29,792.35
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00 0.00
--------------------------------------------------------------
1,471,521.01 731,890.77 556,566.81 29,792.35
- - - -
AVAILABLE REMITTANCE AMOUNT 6,622,785.55 4,141,286.20 2,844,655.19 74,311.54
================ =============== ============== ===========
2. (A) ORIGINAL CLASS A-1 PRINCIPAL BALANCE
61,817,894.18
(B) ORIGINAL CLASS A-2 PRINCIPAL BALANCE
86,383,000.00
(C) ORIGINAL CLASS A-3 PRINCIPAL BALANCE
96,468,000.00
(D) ORIGINAL CLASS A-4 PRINCIPAL BALANCE
53,850,000.00
(E) ORIGINAL CLASS A-5 PRINCIPAL BALANCE
47,916,000.00
(F) ORIGINAL CLASS A-6 PRINCIPAL BALANCE
36,443,000.00
(G) ORIGINAL CLASS A-7 PRINCIPAL BALANCE
44,807,000.00
(H) ORIGINAL CLASS A-8 PRINCIPAL BALANCE
27,828,000.00
(I) ORIGINAL CLASS A-9 PRINCIPAL BALANCE
40,000,000.00
(J) ORIGINAL CLASS A-10 PRINCIPAL BALANCE 346,826,430.74
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(K) ORIGINAL CLASS A-11 PRINCIPAL BALANCE
75,186,535.87
(L) ORIGINAL CLASS A-12 PRINCIPAL BALANCE
34,590,000.00
(M) ORIGINAL CLASS A-13 PRINCIPAL BALANCE
27,684,000.00
(N) ORIGINAL CLASS A-14 PRINCIPAL BALANCE
15,909,000.00
(O) ORIGINAL CLASS A-15 PRINCIPAL BALANCE
19,426,000.00
(P) ORIGINAL CLASS A-16 PRINCIPAL BALANCE
9,971,133.86
3. PRINCIPAL DISTRIBUTION AMOUNTS :
CLASS A-1 5,313,502.27
CLASS A-2 0.00
CLASS A-3 0.00
CLASS A-4 0.00
CLASS A-5 0.00
CLASS A-6 0.00
CLASS A-7 0.00
CLASS A-8 0.00
CLASS A-9 0.00
TOTAL POOL I PRINCIPAL DISTRIBUTION AMOUNT : 5,313,502.27
CLASS A-10 2,958,801.46
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT : 2,958,801.46
CLASS A-11 2,407,799.88
CLASS A-12 0.00
CLASS A-13 0.00
CLASS A-14 0.00
CLASS A-15 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT : 2,407,799.88
CLASS A-16 40,039.46
TOTAL POOL IV PRINCIPAL DISTRIBUTION AMOUNT : 40,039.46
4.TOTAL AMOUNT OF POOL I, II , III & IV
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 1,204,758.83
POOL II 642,697.76
POOL III 14,583,908.90
POOL IV 628,539.41
(B) SPECIFIED SUBORDINATED AMOUNT
POOL I 12,750,000.00
POOL II 11,375,000.00
POOL III 21,000,000.00
POOL IV 2,500,000.00
6. PRINCIPAL PREPAYMENT RECEIVED DURING
THE DUE PERIOD # ACCOUNTS DOLLARS
POOL I 106 2,871,824.23
POOL II 26 2,023,985.64
POOL III 94 1,229,547.38
POOL IV 0 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 456,152.90
POOL II 80,694.83
POOL III 223,673.89
POOL IV 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 662,639.60
POOL II 249,368.08
POOL III 369,692.36
POOL IV 1,729.34
9. AMOUNT OF INTEREST RECEIVED
POOL I 3,534,431.34
POOL II 2,519,782.54
POOL III 1,457,380.53
POOL IV 106,898.91
10. (A) AMOUNT OF MONTHLY ADVANCES INCLUDING COMPENSATING
INTEREST TO BE MADE ON THE DETERMINATION DATE
TO BE DEPOSITED IN THE CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.01 (a) (ii)
POOL I 90,422.30
POOL II 7,085.96
POOL III 0.00
POOL IV 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 1,788.51
POOL II 1,349.95
POOL III 375.01
POOL IV 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 322,483.35
(B) PRINCIPAL DISTRIUTION AMOUNT 5,313,502.27
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 5,635,985.62
CLASS A-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 448,471.74
(B) PRINCIPAL DISTRIUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-2 REMITTANCE AMOUNT 448,471.74
CLASS A-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 506,055.05
(B) PRINCIPAL DISTRIUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-3 REMITTANCE AMOUNT 506,055.05
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-5 REMITTANCE AMOUNT 266,333.10
CLASS A-6 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 207,421.41
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-6 REMITTANCE AMOUNT 207,421.41
CLASS A-7 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 265,481.48
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-7 REMITTANCE AMOUNT 265,481.48
CLASS A-8 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 170,910.30
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-8 REMITTANCE AMOUNT 170,910.30
CLASS A-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 233,333.33
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-9 REMITTANCE AMOUNT 233,333.33
POOL I REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 2,710,606.63
(B) PRINCIPAL DISTRIBUTION AMOUNT 5,313,502.27
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 8,024,108.90
CLASS A-10 (POOL II) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,865,241.41
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,958,801.46
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL (POOL II) REMITTANCE AMOUNT 4,824,042.87
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS A-11 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 395,123.88
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,407,799.88
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-11 REMITTANCE AMOUNT 2,802,923.76
CLASS A-12 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 183,615.25
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-12 REMITTANCE AMOUNT 183,615.25
CLASS A-13 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 153,069.45
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-13 REMITTANCE AMOUNT 153,069.45
CLASS A-14 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 92,603.64
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-14 REMITTANCE AMOUNT 92,603.64
CLASS A-15 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 117,365.42
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-15 REMITTANCE AMOUNT 117,365.42
POOL III REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 941,777.63
(B) PRINCIPAL DISTRIBUTION AMOUNT 2,407,799.88
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 3,349,577.51
CLASS A-16 (POOL IV) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 59,078.97
(B) PRINCIPAL DISTRIBUTION AMOUNT 40,039.46
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL IV REMITTANCE AMOUNT 99,118.43
</TABLE>
<PAGE>
<TABLE>
<S> <C>
14.(A) REIMBURSABLE AMOUNTS 0.00
(B) CLASS R REMITTANCE AMOUNT PAYABLE PURSUANT
TO SECTION 6.08(d) (iii) AND ( iv)
POOL I 0.29
POOL II (0.00)
POOL III 0.00
POOL IV 0.00
15.(A) CLASS A-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 56,504,391.91
86,383,000.00
(C) CLASS A-3 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 96,468,000.00
(D) CLASS A-4 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 53,850,000.00
(E) CLASS A-5 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 47,916,000.00
(F) CLASS A-6 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 36,443,000.00
(G) CLASS A-7 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 44,807,000.00
(H) CLASS A-8 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 27,828,000.00
(I) CLASS A-9 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 40,000,000.00
(J) CLASS A-10 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 343,867,629.28
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 72,778,735.99
(L) CLASS A-12 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 34,590,000.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
(M) CLASS A-13 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 27,684,000.00
(N) CLASS A-14 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 15,909,000.00
(O) CLASS A-15 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 19,426,000.00
(P) CLASS A-16 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 9,931,094.40
(Q) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 490,199,391.91
(R) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 343,867,629.28
(S) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 170,387,735.99
(T) TOTAL POOL IV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 9,931,094.40
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II, III AND IV) 100.00%
(B) EXCESS SPREAD (POOL I) 1,471,521.01
EXCESS SPREAD (POOL II) 731,890.77
EXCESS SPREAD (POOL III) 556,566.81
EXCESS SPREAD (POOL IV) 29,792.35
TOTAL EXCESS SPREAD (POOL I, II, III and IV) 2,789,770.93
(C) REMAINDER EXCESS SPREAD AMOUNT POOL I 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL II 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL III 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL IV 0.00
TOTAL REMAINDER EXCESS SPREAD AMOUNT POOL I, II, III and IV 0.00
17. CUMULATIVE REALIZED LOSSES
POOL I 0.00
POOL II 0.00
POOL III 0.00
POOL IV 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 267.422
POOL II 356.444
POOL III 209.901
POOL IV 348.354
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 11.882%
POOL II 9.909%
POOL III 12.398%
POOL IV 11.815%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 74,317.59
POOL II 63,568.93
POOL III 29,393.07
POOL IV 2,262.18
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 74,317.59
POOL II 63,568.93
POOL III 29,393.07
POOL IV 2,262.18
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 20,646.37
POOL II 14,451.10
POOL III 7,199.81
POOL IV 415.46
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 49,551.00
POOL II 34,683.00
POOL III 43,199.00
POOL IV 4,570.00
(E) FHA PREMIUM ACCOUNT 1,245.67
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE
SERVICERS PURSUANT TO: POOL I POOL II
(A) SECTION 5.04 (b) 0.00 0.00
(B) SECTION 5.04 (c) 0.00 0.00
(C) SECTION 5.04 (d)(ii) 0.00 0.00
(D) SECTION 5.04 (e) 0.00 0.00
(E) SECTION 5.04 (f)(i) 148,635.18 127,137.86
POOL III POOL IV
(A) SECTION 5.04 (b) 0.00 0.00
(B) SECTION 5.04 (c) 0.00 0.00
(C) SECTION 5.04 (d)(ii) 0.00 0.00
(D) SECTION 5.04 (e) 0.00 0.00
(E) SECTION 5.04 (f)(i) 58,786.14 4,524.36
21. CLASS A-1 POOL FACTOR (I-5): CUSIP #
CURRENT CLASS A-1 PRINCIPAL BALANCE 56,504,391.91 0.85218900 0935BB BH
ORIGINAL CLASS A-1 PRINCIPAL BALANCE 66,305,000.00
CLASS A-2 POOL FACTOR (I-5):
CURRENT CLASS A-2 PRINCIPAL BALANCE 86,383,000.00 1.00000000 60935B BJ7
ORIGINAL CLASS A-2 PRINCIPAL BALANCE 86,383,000.00
CLASS A-3 POOL FACTOR (I-5):
CURRENT CLASS A-3 PRINCIPAL BALANCE 96,468,000.00 1.00000000 0935BB BK
ORIGINAL CLASS A-3 PRINCIPAL BALANCE 96,468,000.00
CLASS A-4 POOL FACTOR (I-5):
CURRENT CLASS A-4 PRINCIPAL BALANCE 53,850,000.00 1.00000000 60935B BL2
ORIGINAL CLASS A-4 PRINCIPAL BALANCE 53,850,000.00
CLASS A-5 POOL FACTOR (I-5):
CURRENT CLASS A-5 PRINCIPAL BALANCE 47,916,000.00 1.00000000 0935BB BM
ORIGINAL CLASS A-5 PRINCIPAL BALANCE 47,916,000.00
CLASS A-6 POOL FACTOR (I-5):
CURRENT CLASS A-6 PRINCIPAL BALANCE 36,443,000.00 1.00000000 0935BB BN
ORIGINAL CLASS A-6 PRINCIPAL BALANCE 36,443,000.00
CLASS A-7 POOL FACTOR (I-5):
CURRENT CLASS A-7 PRINCIPAL BALANCE 44,807,000.00 1.00000000
ORIGINAL CLASS A-7 PRINCIPAL BALANCE 44,807,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
CLASS A-8 POOL FACTOR: CUSIP #
CURRENT CLASS A-8 PRINCIPAL BALANCE 27,828,000.00 0.12943256
ORIGINAL CLASS A-8 PRINCIPAL BALANCE 215,000,000.00
CLASS A-9 POOL FACTOR (I-5):
CURRENT CLASS A-9 PRINCIPAL BALANCE 40,000,000.00 1.00000000
ORIGINAL CLASS A-9 PRINCIPAL BALANCE 40,000,000.00
POOL I FACTOR:
CURRENT POOL I PRINCIPAL BALANCE 490,199,391.91 0.98039878
ORIGINAL POOL I PRINCIPAL BALANCE 500,000,000.00
CLASS A-10 (POOL II) FACTOR (I-5):
CURRENT CLASS A-10 PRINCIPAL BALANCE 343,867,629.28 0.98247894 60935B BS7
ORIGINAL CLASS A-10 PRINCIPAL BALANCE 350,000,000.00
CLASS A-11 POOL FACTOR (I-5):
CURRENT CLASS A-11 PRINCIPAL BALANCE 72,778,735.99 0.94040310
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 77,391,000.00
CLASS A-12 POOL FACTOR (I-5):
CURRENT CLASS A-12 PRINCIPAL BALANCE 34,590,000.00 1.00000000
ORIGINAL CLASS A-12 PRINCIPAL BALANCE 34,590,000.00
CLASS A-13 POOL FACTOR (I-5):
CURRENT CLASS A-13 PRINCIPAL BALANCE 27,684,000.00 1.00000000
ORIGINAL CLASS A-13 PRINCIPAL BALANCE 27,684,000.00
CLASS A-14 POOL FACTOR (I-5):
CURRENT CLASS A-14 PRINCIPAL BALANCE 15,909,000.00 1.00000000
ORIGINAL CLASS A-14 PRINCIPAL BALANCE 15,909,000.00
CLASS A-15 POOL FACTOR (I-5):
CURRENT CLASS A-15 PRINCIPAL BALANCE 19,426,000.00 1.00000000
ORIGINAL CLASS A-15 PRINCIPAL BALANCE 19,426,000.00
POOL III FACTOR:
CURRENT POOLI III PRINCIPAL BALANCE 170,387,735.99 0.97364421
ORIGINAL POOL III PRINCIPAL BALANCE 175,000,000.00
CLASS A-16 (POOL IV) FACTOR (I-5):
CURRENT CLASS A-16 PRINCIPAL BALANCE 9,931,094.40 0.99310944
ORIGINAL CLASS A-165 PRINCIPAL BALANCE 10,000,000.00
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 11.882%
POOL II 9.909%
POOL III 12.398%
POOL IV 11.815%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 11.212%
POOL II 9.239%
POOL III 10.548%
POOL IV 10.715%
(C) WEIGHTED AVERAGE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4,
CLASS A-5, CLASS A-6, CLASS A-7, CLASS A-8 AND CLASS A-9
ADJUST MORTGAGE LOAN REMITTANCE RATE 6.738%
CLASS A-10 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.864%
CLASS A-11, CLASS A-12, CLASS A-13, CLASS A-14 AND CLASS A-15
ADJUSTED MORTGAGE LOAN REMITTANCE RATE 6.577%
CLASS A-16 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 7.710%
--------------------------------------------------------------------
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 11/30/96 12/31/96 01/31/97
--------------------------------------------------------------------
POOL I 11.700% 11.891% 11.882%
POOL II 9.600% 9.901% 9.909%
POOL III 12.200% 12.398% 12.398%
POOL IV 11.600% 11.815% 11.815%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
23. CLASS A-10 REMITTANCE RATE 5.6944%
CLASS A-11REMITTANCE RATE 5.56438%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-10 N/A
LIBOR PLUS MARGIN FOR CLASS A-11 N/A
24. LIBOR RATE 5.48438%
25. NET FUNDS CAP (RATE)
Pool II NET FUNDS CAP 9.211%
Pool III NET FUNDS CAP 9.211%
26. CLASS A-10 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
CLASS A-11 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
27. (A) AMOUNT OF DISTRIBUTION ALLOCABLE TO CLASS A-10
LIBOR INTEREST CARRYOVER 0.00
AMOUNT OF DISTRIBUTION ALLOCABLE TO CLASS A-11
LIBOR INTEREST CARRYOVER
(B) CLASS A-10 LIBOR INTEREST CARRYOVER BALANCE 0.00
CLASS A-11 LIBOR INTEREST CARRYOVER BALANCE
28. (A) AMOUNT TO BE DEPOSITED INTO THE FHA PREMIUM ACCOUNT
FOR THE DUE PERIOD 1,245.67
(B) AMOUNT REIMBURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PURSUANT TO 6.06(b)(i) 0.00
29. AMOUNT OF FHA PAYMENTS AND RELATED PAYMENTS
RECEIVED DURING THE MONTH 0.00
30. THE RESERVE AMOUNT FOR THE DUE PERIOD 17,500,000.00
31. CLAIMS FILED DURING THE DUE PERIOD 0.00
32. CLAIMS PAID DURING THE PERIOD 0.00
33. CLAIMS DENIED BY FHA DURING THE DUE PERIOD 0.00
34. CLAIMS PENDING PAYMENT BY FHA DURING THE DUE PERIOD 0.00
35. OTHER INFORMATION
(A) SPREAD ACCOUNT BALANCES
POOL I 0.00
POOL II 0.00
POOL III 14,063,323.19
POOL IV 602,713.85
(B) AMOUNT TO BE DEPOSITED INTO POOL III
SPREAD ACCOUNT DUE TO TRIGGER ACTIVATION 0
</TABLE>
<PAGE>
EXHIBIT O (POOL I)
REMIC DELINQUENCIES AS OF -JANUARY 31, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-D-I $376,817,270.18 8980 1 TO 29 DAYS 41,910,327.66 957 11.12%
30 TO 59 DAYS 5,458,250.26 107 1.45%
60 TO 89 DAYS 1,105,466.78 25 0.29%
90 AND OVER 54,400.00 1 0.01%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $48,528,444.70 1,090 12.88%
========================================
</TABLE>
EXHIBIT O (POOL II)
REMIC DELINQUENCIES AS OF -JANUARY 31, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-D-II $319,311,201.74 3913 1 TO 29 DAYS 35,529,853.08 416 11.13%
30 TO 59 DAYS 3,895,865.43 54 1.22%
60 TO 89 DAYS 1,156,375.37 12 0.36%
90 AND OVER 0.00 0 0.00%
FORECLOSURE 50,600.00 1 0.02%
REO PROPERTY 0.00 0 0.00%
TOTALS $40,632,693.88 483 12.73%
========================================
</TABLE>
<PAGE>
EXHIBIT O (POOL III)
REMIC DELINQUENCIES AS OF -JANUARY 31, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-D-III $136,495,630.06 8286 1 TO 29 DAYS 16,718,711.98 1049 12.25%
30 TO 59 DAYS 2,239,162.39 151 1.64%
60 TO 89 DAYS 542,115.73 33 0.40%
90 AND OVER 149,705.12 9 0.11%
CLAIMS PENDING 0.00 0 0.00%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $19,649,695.22 1,242 14.40%
===========================================
</TABLE>
EXHIBIT O ( POOL IV )
REMIC DELINQUENCIES AS OF -JANUARY 31, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1996-D-IV 9,990,430.33 45 1 TO 29 DAYS 0.00 0 0.00%
30 TO 59 DAYS 0.00 0 0.00%
60 TO 89 DAYS 0.00 0 0.00%
90 AND OVER 0.00 0 0.00%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $0.00 0 0.00%
========================================
</TABLE>
<PAGE>
1996-D
The following additional information, presented in dollars, pursuant to
Secton 6.10 subclauses (ii), (vi), (vii), (viii), (xiii), (xv), (xxxvi)
is provided for each Class per $1,000 original dollar amount as of the Cut-Off
Date.
<TABLE>
<CAPTION>
POOL I
SUBCLAUSE CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 932.33 1,000.00 1,000.00 1,000.00 1,000.00
(vi) 43.31 0.00 0.00 0.00 0.00
(vii) 6.88 0.00 0.00 0.00 0.00
(viii) 9.99 0.00 0.00 0.00 0.00
(xiii) (a) 4.86 5.19 5.25 5.39 5.56
(b) 80.14 0.00 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00
(xv) 852.19 1,000.00 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00
POOL II
SUBCLAUSE CLASS A-6 CLASS A-7 CLASS A-8 CLASS A-9 CLASS A-10
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 1,000.00 1,000.00 990.93
(vi) 0.00 0 0.00 0.00 5.78
(vii) 0.00 0 0.00 0.00 0.23
(viii) 0.00 0 0.00 0.00 0.71
(xiii) (a) 5.69 5.93 6.14 5.83 5.33
(b) 0.00 0 0.00 0.00 8.45
(c) 0.00 0 0.00 0.00 0.00
(d) 0.00 0 0.00 0.00 0.00
(xv) 1,000.00 1,000.00 1,000.00 1,000.00 982.48
(xxxvi) 0.00 0 0.00 0.00 0.00
POOL III POOL IV
SUBCLAUSE CLASS A-11 CLASS A-12 CLASS A-13 CLASS A-14 CLASS A-1 CLASS A-16
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
(ii) 971.52 1,000.00 1,000.00 1,000.00 1,000.00 997.11
(vi) 15.89 0.00 0.00 0.00 0.00 0.00
(vii) 2.89 0.00 0.00 0.00 0.00 0.00
(viii) 4.78 0.00 0.00 0.00 0.00 0.17
(xiii) (a) 5.11 5.31 5.53 5.82 6.04 5.91
(b) 31.11 0.00 0.00 0.00 0.00 4.00
(c) 0.00 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00 0.00
(xv) 940.40 1,000.00 1,000.00 1,000.00 1,000.00 993.11
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
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