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Previous: ALPHA RESOURCES INC /DE/, SB-2, 1997-03-04 |
Next: SEQUOIA MORTGAGE FUNDING CORP, S-3, 1997-03-04 |
<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 Investment Corporation, The Money Store of New York, Inc.
and The Money Store Inc. (as Representative under a Pooling and Servicing
Agreement dated as of November 30, 1996 providing for the issuance
of TMS Loan-Backed Adjustable Rate Certificates, Series 1996-2,
Class A and Class B)
The Money Store Investment Corporation
The Money Store of New York Inc.
- --------------------------------------------------------------------------------
(Exact name of regristrant as specified in its charter)
33-98734-17
New Jersey 33-98734 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.
<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.
THE MONEY STORE INVESTMENT CORPORATION
THE MONEY STORE OF NEW YORK INC.
By: \s\ Harry Puglisi
---------------------------------------
Name: Harry Puglisi
Title: Treasurer
Dated: FEBRUARY 28, 1997
<PAGE>
SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.09 OF THE POOLING AND SERVICING AGREEMENT DATED
AS OF NOVEMBER 30, 1996, THE MONEY STORE INVESTMENT CORPORATION REPORTS THE
FOLLOWING INFORMATION PERTAINING TO SERIES 1996-2 FOR THE FEBRUARY 12, 1997
DETERMINATION DATE
<TABLE>
<S> <C>
1. AVAILABLE FUNDS $3,668,709.37
2. (A) AGGREGATE CLASS A CERTIFICATE
PRINCIPAL BALANCE AS REPORTED IN THE PRIOR MONTH 129,907,976.21
(B) AGGREGATE CLASS B CERTIFICATE
PRINCIPAL BALANCE AS REPORTED IN THE PRIOR MONTH 9,778,019.71
(C) AGGREGATE POOL PRINCIPAL BALANCE
AS REPORTED IN THE PRIOR MONTH 108,007,332.39
3. PRINCIPAL PREPAYMENTS RECEIVED DURING
DUE PERIOD
(A) NUMBER OF ACCOUNTS 2
(B) DOLLARS 259,444.39
4. PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED
BY CURTAILMENTS RECEIVED DURING THE DUE PERIOD 7,699.42
5. PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED
BY ALL EXCESS AND MONTHLY PAYMENTS IN RESPECT OF
PRINCIPAL RECEIVED DURING THE DUE PERIOD 199,178.67
6. AGGREGATE AMOUNT OF INTEREST RECEIVED NET OF THE AGENT
OF THE SBA's FEE, PREMIUM PROTECTION FEE, ADDITIONAL FEE
AND PORTION PAYABLE TO REGISTERED HOLDERS 1,406,140.82
7. (A) AMOUNT OF MONTHLY ADVANCE 0.00
(B) AMOUNT OF COMPENSATING INTEREST 991.66
8. DELINQUENCY AND FORECLOSURE INFORMATION
(SEE EXHIBIT K)
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
9. PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED BY
REALIZED LOSSES ON A LIQUIDATED LOAN 0.00
10. (A) CLASS A INTEREST DISTRIBUTION AMOUNT:
(i) ACCRUED INTEREST 661,448.10
(ii) SHORTFALL, IF ANY, ON A PRECEDING
REMITTANCE DATE PLUS INTEREST 0.00
(iii) CLASS A INTEREST DISTRIBUTION AMOUNT
ADJUSTMENT 170.59
ADJUSTED CLASS A INTEREST DISTRIBUTION AMOUNT 661,618.69
5.08155676
(B) CLASS B INTEREST DISTRIBUTION AMOUNT:
(i) ACCRUED INTEREST 53,575.50
(ii) SHORTFALL, IF ANY, ON A PRECEDING
REMITTANCE DATE PLUS INTEREST 0.00
(iii) CLASS B INTEREST DISTRIBUTION AMOUNT
ADJUSTMENT 13.72
ADJUSTED CLASS B INTEREST DISTRIBUTION AMOUNT 53,589.22
5.46828776
(C) CLASS A PRINCIPAL DISTRIBUTION AMOUNT:
(i) UNGUARANTEED PERCENTAGE OF PAYMENTS
AND OTHER RECOVERIES OF PRINCIPAL 433,679.90
(ii) PRINCIPAL PORTION OF THE UNGUARANTEED
INTEREST PURCHASED FOR BREACH OF
WARRANTY AND RECEIVED BY THE TRUSTEE 0.00
(iii) SUBSTITUTION ADJUSTMENTS 0.00
(iv) UNGUARANTEED PERCENTAGE OF
LOSSES THAT WERE LIQUIDATED 0.00
(v) UNGUARANTEED PERCENTAGE OF SBA LOAN
DELINQUENT 24 MONTHS OR
UNCOLLECTIBLE 0.00
(vi) RECALCULATED PRINCIPAL ADJUSTMENT (1,668.75)
TOTAL CLASS A PRINCIPAL DISTRIBUTION AMOUNT 432,011.15
3.31805799
(D) CLASS B PRINCIPAL DISTRIBUTION AMOUNT:
(i) UNGUARANTEED PERCENTAGE OF PAYMENTS
AND OTHER RECOVERIES OF PRINCIPAL 32,642.58
(ii) PRINCIPAL PORTION OF THE UNGUARANTEED
INTEREST PURCHASED FOR BREACH OF
WARRANTY AND RECEIVED BY THE TRUSTEE 0.00
(iii) SUBSTITUTION ADJUSTMENTS 0.00
(iv) UNGUARANTEED PERCENTAGE OF
LOSSES THAT WERE LIQUIDATED 0.00
(v) UNGUARANTEED PERCENTAGE OF SBA LOAN
DELINQUENT 24 MONTHS OR
UNCOLLECTIBLE 0.00
(vi) RECALCULATED PRINCIPAL ADJUSTMENT (125.61)
TOTAL CLASS B PRINCIPAL DISTRIBUTION AMOUNT 32,516.97
3.31805816
11. (A) AMOUNT AVAILABLE IN THE SPREAD ACCOUNT
IN CASH AND FROM LIQUIDATION OF
PERMITTED INSTRUMENTS 1,890,901.39
(B) TRANSFER FROM SPREAD ACCOUNT TO CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.02(b)(i) 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
12. (A) AGGREGATE CLASS A CERTIFICATE PRINCIPAL
BALANCE AFTER DISTRIBUTIONS TO BE MADE
ON THE REMITTANCE DATE 129,475,965.06
994.43905576
(B) AGGREGATE CLASS B CERTIFICATE PRINCIPAL
BALANCE AFTER DISTRIBUTIONS TO BE MADE
ON THE REMITTANCE DATE 9,745,502.74
994.43905510
(C) POOL PRINCIPAL BALANCE AFTER DISTRIBUTIONS
TO BE MADE ON THE REMITTANCE DATE 107,542,804.27
768.16288764
13. (A) EXCESS SPREAD 359,685.28
(B) EXTRA INTEREST 339,089.10
(C) SPREAD ACCOUNT BALANCE 1,890,901.39
(D) SPECIFIED SPREAD ACCOUNT REQUIREMENT 3,768,998.15
14. (A) WEIGHTED AVERAGE MATURITY 225.272
(B) WEIGHTED AVERAGE SBA LOAN INTEREST RATE 10.370%
15. (A) SERVICING FEE FOR THE RELATED DUE PERIOD 119,074.43
(B) PREMIUM PROTECTION FEE FOR THE RELATED
DUE PERIOD 135,943.03
(C) AMOUNTS TO BE DEPOSITED TO THE EXPENSE
ACCOUNT 5,400.37
16. AMOUNT OF REIMBURSEMENTS PURSUANT TO:
(A) SECTION 5.04 (b) 0.00
(B) SECTION 5.04 (c) 0.00
(C) SECTION 5.04 (d)(ii) 0.00
(D) SECTION 5.04 (e) 0.00
(E) SECTION 5.04 (f) 123,432.54
17. (A) CLASS A REMITTANCE RATE 6.110%
(B) CLASS B REMITTANCE RATE 6.575%
18. (A) AGGREGATE PRINCIPAL BALANCE OF THE SUBSEQUENT MORTGAGE
LOANS PURCHASED DURING THE PRIOR DUE PERIOD 0.00
(B) AMOUNT ON DEPOSIT IN THE PRE-FUNDING ACCOUNT AS OF THE END OF
SUCH DUE PERIOD 31,678,663.53
19. OTHER INFORMATION AS REQUESTED
</TABLE>
<PAGE>
I, Harry Puglisi, Treasurer, represent that The Money Store Investment
Corporation complied with section 6.09 of the Pooling and Servicing Agreement
dated November 30, 1996 pertaining to Series 1996 - 2 in preparing the
accompanying Servicer's Certificate.
THE MONEY STORE INVESTMENT CORPORATION
By: \S\ Harry Puglisi
----------------------------------------
HARRY PUGLISI
TREASURER
Dated: February 28, 1997
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