September 30, 1997
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Provident Bank Home Equity Loan Trust 1997-1 Home Equity Loan
Asset-Backed Certificates, Series 1997-1
File No. 333-14293-01
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the
"Trust") created pursuant to a Pooling and Servicing Agreement
dated as of March 1, 1997 (the "Pooling and Servicing Agreement")
among Lehman ABS Corporation, as depositor (the "Depositor"), The
Provident Bank, as Seller (the "Seller"), as Document Custodian
(the "Document Custodian") and as Master Servicer (the "Master
Servicer"), and Bankers Trust Company of California, N.A., as
Trustee (the "Trustee"), is a Current Report on Form 8-K (the
"Report").
The Home Equity Loan Asset-Backed Certificates, Series 1997-1 (the
"Certificates"), will consist of two Classes (each, a "Class") of
senior Certificates: The Class A-1 Certificates and the Class A-2
Certificates (collectively, the "Class A Certificates") and one
Class of subordinated Certificates (the "Class R Certificates").
Only the Class A Certificates (The "Offered Certificates") are
being offered hereby.
The Certificates will evidence in the aggregate the entire
beneficial interest in a pool (the "Mortgage Pool") of closed-end
fixed and adjustable rate mortgage loans (the "Mortgage Loans")
consisting of two groups ("Loan Group 1" and Loan Group 2",
respectively, and each a "Loan Group"). The Class A-1 Certificates
(the "Group 1 Certificates") will represent undivided ownership
interests in Loan Group 1 which consists of Mortgage Loans with
fixed interest rates. The Class A-2 Certificates (the "Group 2
Certificates") will represent undivided ownership interests in Loan
Group 2 which consists of Mortgage Loans with adjustable interest
rates. The assets of the Trust will also include certain other
property. The Mortgage Loans are secured by first and second deeds
of trust or mortgages primarily on one- to four-family residential
properties. All of the Mortgage Loans will be acquired by Lehman
ABS Corporation (the "Depositor") from Provident.
The Offered Certificates were registered under the Securities Act of
1933, as amended, by a Registration Statement on Form S-11 (File No.
333-14293-01). 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 the manner described herein:
The Trust will file, promptly after each Distribution Date (as
defined in the Pooling and Servicing Agreement), a Current Report on
Form 8-K in substantially the form enclosed herewith, including as
an exhibit thereto the applicable Distribution Date report. 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.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will
file an annual report of Form 10-K which responds to Items 2, 3, and
4 of Part I, Items 5 and 9 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 Pooling and Servicing
Agreement.
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 suspended pursuant to such Section. In
such event, the Trust will file a Form 15 as required under Rule
15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 253-7562.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Provident Bank Home Equity Loan Trust
1997-1 Home Equity Loan Asset-Backed Certificates, Series 1997-1
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):
April 25, 1997
LEHMAN ABS CORPORATION
(as depositor under the Pooling and Servicing Agreement, dated as
of March 1, 1997, which forms Provident Bank Home Equity Loan Trust
1997-1, which will issue the Provident Bank Home Equity Loan Trust
1997-1, Home Equity Loan Asset-Backed Certificates, Series 1997-1)
LEHMAN ABS CORPORATION
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-14293-01 13-3447441
(Commission File Number) (I.R.S. Employer
Identification No.)
THREE WORLD FINANCIAL CENTER
200 VESEY STREET
NEW YORK, NEW YORK 10022
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code:
(212) 526-7000
ITEM 5. Other Events
Attached hereto are copies of the Monthly Remittance
Statements to the Certificateholders which were derived from
the monthly information submitted by the Master Servicer of the
Trust to the Trustee.
ITEM 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated
as of April 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of May 27, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of June 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of July 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of August 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of September 25, 1997.
SIGNATURE
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, hereunto duly
authorized.
Bankers Trust Company, not in its
individual capacity, but solely as
a duly authorized agent of the
Registrant pursuant to the Pooling
and Servicing Agreement, dated as
of March 1, 1997.
Date: September 30, 1997 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the
Certificateholders dated as of April 25, 1997. 5
Monthly Remittance Statement to the
Certificateholders dated as of May 27, 1997. 7
Monthly Remittance Statement to the
Certificateholders dated as of June 25, 1997. 9
Monthly Remittance Statement to the
Certificateholders dated as of July 25, 1997. 11
Monthly Remittance Statement to the
Certificateholders dated as of August 25, 1997. 13
Monthly Remittance Statement to the
Certificateholders dated as of September 25, 1997. 15
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 40,000,000.00 40,000,000.00 239,333.33 442,211.63
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
681,544.96 0.00 0.00 39,557,788.37
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 95,000,000.00 95,000,000.00 463,619.79 1,180,959.04
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,644,578.83 0.00 0.00 93,819,040.96
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
135,000,000.00 135,000,000.00 702,953.12 1,623,170.67
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,326,123.79 0.00 0.00 133,376,829.33
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AE2 1,000.000000 5.983333 11.055291 17.038624
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
988.944709 7.180000% 6.720000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AF9 1,000.000000 4.880208 12.431148 17.311356
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
987.568852 5.856250% 5.887500%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: March 31, 1997 Irvine, CA 92714
DISTRIBUTION DATE: April 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 40,000,000.00 39,557,788.37 236,687.43 318,514.68
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
555,202.11 0.00 0.00 39,239,273.69
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 95,000,000.00 93,819,040.96 490,986.31 810,976.05
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,301,962.36 0.00 0.00 93,008,064.91
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
135,000,000.00 133,376,829.33 727,673.74 1,129,490.73
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,857,164.47 0.00 0.00 132,247,338.60
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AE2 988.944709 5.917186 7.962867 13.880053
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
980.981842 7.180000% 7.180000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AF9 987.568852 5.168277 8.536590 13.704867
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
979.032262 5.887500% 5.887500%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: April 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: May 27, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 40,000,000.00 39,239,273.69 234,781.65 429,581.62
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
664,363.27 0.00 0.00 38,809,692.07
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 95,000,000.00 93,008,064.91 441,110.12 1,020,685.92
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,461,796.04 0.00 0.00 91,987,378.99
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
135,000,000.00 132,247,338.60 675,891.77 1,450,267.54
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,126,159.31 0.00 0.00 130,797,071.06
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AE2 980.981842 5.869541 10.739541 16.609082
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
970.242302 7.180000% 7.180000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AF9 979.032262 4.643264 10.744062 15.387327
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
968.288200 5.887500% 5.887500%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: May 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: June 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 40,000,000.00 38,809,692.07 232,211.32 798,819.02
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,031,030.34 0.00 0.00 38,010,873.05
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 95,000,000.00 91,987,378.99 451,313.08 2,674,185.80
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,125,498.88 0.00 0.00 89,313,193.19
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
135,000,000.00 130,797,071.06 683,524.40 3,473,004.82
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
4,156,529.22 0.00 0.00 127,324,066.24
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AE2 968.288200 4.750664 10.739541 28.149324
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
950.271826 7.180000% 7.180000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AF9 968.288200 4.750664 28.149324 32.899988
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
940.138876 5.887500% 5.848440%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: July 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 40,000,000.00 38,010,873.05 227,431.72 789,905.21
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,017,336.93 0.00 0.00 37,220,967.84
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 95,000,000.00 89,313,193.19 449,795.23 2,507,746.73
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,957,541.96 0.00 0.00 86,805,446.46
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
135,000,000.00 127,324,066.24 677,226.95 3,297,651.94
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,974,878.89 0.00 0.00 124,026,414.30
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AE2 950.271826 5.685793 19.747630 25.433423
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
930.524196 7.180000% 7.180000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AF9 940.138876 4.734687 26.397334 31.132021
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
913.741542 5.848440% 5.825000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: July 31, 1997 Irvine, CA 92714
DISTRIBUTION DATE: August 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 40,000,000.00 37,220,967.84 222,705.46 784,755.78
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,007,461.24 0.00 0.00 36,436,212.06
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 95,000,000.00 86,805,446.46 435,413.71 2,204,771.72
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,640,185.43 0.00 0.00 84,600,674.74
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
135,000,000.00 124,026,414.30 658,119.17 2,989,527.50
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,647,646.67 0.00 0.00 121,036,886.80
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AE2 930.524196 5.567637 19.618894 25.186531
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
910.905302 7.180000% 7.180000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AF9 913.741542 4.583302 23.208123 27.791426
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
890.533418 5.825000% 5.856250%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: August 29, 1997 Irvine, CA 92714
DISTRIBUTION DATE: September 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
