<PAGE> 1
This document contains 6
pages. The Exhibit Index
is located on page 4.
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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 (Date of earliest Event
Reported) January 15, 1998
MortgageLoan Asset Backed Pass-Through Certificates Trust 1997-A
----------------------------------------------------------------
(Name of Trust issuing Mortgage Loan Asset Backed
Pass-Through Certificates, Series 1997-A, Class A)
MLCC Mortgage Investors, Inc.
-----------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-14253 59-3247986
- ---------------------------- ----------- -------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
MLCC Mortgage Investors, Inc.
4802 Deer Lake Drive East
Jacksonville, Florida 32246-6484
Attention: General Counsel
--------------------------
(Address of Principal Executive
Offices and Zip Code)
Registrant's telephone number, including area code (904) 928-6000
--------------
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<PAGE> 2
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
The following is filed herewith. The exhibit number corresponds with
Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
19.1 Statement to Certificateholders for Mortgage
Loan Asset Backed Pass-Through Certificates,
Series 1997-A, for January 15, 1998
distribution pursuant to Section 6.02 of the
Pooling and Servicing Agreement among
Merrill Lynch Credit Corporation, as Master
Servicer, MLCC Mortgage Investors, Inc., as
Company, and Bankers Trust Company of
California, N.A., as Trustee, dated as of
March 1, 1997.
2
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, Merrill Lynch Credit Corporation, as Master Servicer and on behalf of the
registrant, has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MERRILL LYNCH CREDIT CORPORATION, as
Master Servicer and on behalf of
MLCC MORTGAGE INVESTORS, INC.
By: /s/ Steven T. Hardy
-------------------------------
Name: Steven T. Hardy
Title: Vice President and
Controller
Dated: 1/15/98
----------------------------
3
<PAGE> 4
Exhibit Index
Exhibit No. Page
- ----------- ----
19.1 Statement to Certificateholders for
Mortgage Loan Asset Backed Pass-Through
Certificates, Series 1997-A 5
4
<PAGE> 1
SERVICING CERTIFICATE PAGE 5
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<TABLE>
<CAPTION>
MLCC Mortgage Investors, Inc.
Senior/Subordinate Mortgage Pass-Through Certificates, Series 1997A Current Collection Period: 01-Dec-97 to 31-Dec-97
P & S Agreement Date: 01-Mar-97
PASS-THROUGH RATES CURRENT DISTRIBUTION: Current
---------
<S> <C> <C> <C> <C>
Class A Certificates, Series 1997A LIBOR + 0.25% 6.37500% Original Closing Date: 3/26/97 16-Dec-97
Class B Certificates, Series 1997A Alternate Rate 7.31417% Distribution Date: 15-Jan-98
Days in Accrual Period 31
15-Dec-97
14-Jan-98
Weighted Avg Mtg Rate (WAC) 7.69341%
LIBOR 6.12500% Weighted Avg Net Mtg Rate (Alt. Rate) 7.31417%
</TABLE>
<TABLE>
<S> <C> <C> <C>
---------------------------------------------------------------------------------------------------------------------------------
1 Beginning Pool Principal Balance
2 Beginning Pool Balance Factor
---------------------------------------------------------------------------------------------------------------------------------
3 Beginning Class A Principal Balance
4 Beginning Class B Principal Balance
---------------------------------------------------------------------------------------------------------------------------------
5 Aggregate of all Monthly Principal Payments (P&S 5.08i )
6 Aggregate of all Principal Prepayments Received (P&S 5.08i )
7 Aggregate of any Net Liquidation Proceeds Received (P&S 5.08iii )
8 Aggregate of any Insurance Proceeds Received (P&S 5.08iv )
9 Aggregate of any Awards or Settlements From Condemnation Proceedings (P&S 5.08v )
10 Aggregate of any Proceeds From Repurchased Mortgage Loans (P&S 5.08vi )
11 Aggregate of any Revenues From Fidelity Bond or Mortgage Interest Insurance Policy (P&S 5.08vii )
12 Aggregate of any Revenues From Foreclosure or Deed Net of any Advances (P&S 5.08viii )
13 Current Principal Advances
14 Current Servicer Principal Reimbursements
15 Total Principal Available For Distribution (5+6+7+8+9+10+11+12+13-14)
16 Unrecovered Principal Amounts (Liquidation Loss)
17 Aggregate of all Interest Payments Received (P&S 5.08ii )
17a Prefunding Account Interest Earned (P&S 5.14b )
17b Accrued Interest at Cl A pass-through rate x Pre-funded Amount for 11 days (1st dist only) (P&S 6.01a )
18 Current Servicing Fee (P&S 5.08ii )
19 Monthly Interest Advance (Recovery) based on Delinquent Accounts (P&S 6.02vii )
19 i. Current Servicer Interest Advance (Recovery)
20 Scheduled Formula Principal Distribution Amount (5+13-14)
21 Unscheduled Formula Principal Distribution Amount (6+7+8+9+10+11+12)
22 Total Interest Available For Distribution (17+17a+17b-18+19i)
23 Total Funds Available For Distribution (15+22)
----------------------------------------------------------------------------------------------------------------------------
24 Formula Principal Distribution Amount (Lines 20 + 21)
----------------------------------------------------------------------------------------------------------------------------
WATERFALL
25 i. Class A Percentage (Beg. Class A prin bal / Beg. pool prin bal.) (P&S 6.02i )
ii. Class A Percentage x Scheduled Formula Principal Distribution Amount (Line 20)
iii. Class A Prepayment Percentage
iv. Class A Prepayment Percentage x Unscheduled Formula Principal Distribution Amount
v. Class A Total Distribution Allocable to Principal 2
vi. Class A Recovered Principal Amount
vii Class A Unrecovered Principal Amount 7
26 i. Class A Total Distribution Allocable to Interest (min of: 26ii. or 23) 1 (P&S 6.02ii )
ii. Class A Interest Formula Distribution Amount (26iii. + 26iv.) (P&S 6.02ii )
iii. Class A Current Interest (pass-through rate x A's upb) (P&S 6.02ii )
iv. Class A Unpaid Interest Shortfall (Class A's interest s/f from preceding distribution date) (P&S 6.02iii )
v. Class A Unpaid Interest Shortfall (Class A's interest s/f from preceding distribution date) (P&S 6.02iii )
vi. Class A Unpaid Interest Shortfall included in 26i. (when 26iii. > 0: min of 26i. and 26iv.) (P&S 6.02iii )
viii.Class A Interest Shortfall (26ii. - 26i.) (P&S 6.02iii )
---------------------------------------------------------------------------------------------------------------------------------
27 i Current Certificate Insurance Premium 3
ii. Reimbursement Amount 4 (P&S 6.02vi )
iii. Redirection of Certificate Insurance
iv. Total Amount to Certificate Insurer
---------------------------------------------------------------------------------------------------------------------------------
28 i Subordinated Percentage (P&S 6.02i )
ii Subordinated Percentage of Scheduled Formula Principal Distribution Amount
iii. Subordinated Prepayment Percentage
iv. Subordinated Prepayment Percentage of Unscheduled Formula Principal Distribution Amount
v. Class B Total Distribution Allocable to Principal 8
vi. Class B Recovered Loss Amount 9
vii Class B Unrecovered Loss Amount
29 i Class B Total Distribution Allocable to Interest 6 (P&S 6.02ii )
ii. Class B Interest Formula Distribution Amount (29iii. + 29iv.) (P&S 6.02ii )
iii. Class B Current Interest (pass-through rate x B's upb) (P&S 6.02iii )
iv. Class B Unpaid Interest Shortfall (Class B's interest s/f from preceding distribution date) (P&S 6.02iii )
v. Class B Unpaid Interest Shortfall (Class B's interest s/f from preceding distribution date)
vi. Class B Unpaid Interest Shortfall included in 26i. (when 29iii. Greater Than 0: min of 29i. and 29iv.)
viii.Class B Interest Shortfall (29ii. - 29i.)
---------------------------------------------------------------------------------------------------------------------------------
30 i. Cumulative Master Servicer Advanced Interest (P&S 6.02v )
ii. Cumulative Master Servicer Advanced Principal
---------------------------------------------------------------------------------------------------------------------------------
31 i. Beginning Reserve Fund Balance (P&S 6.06 )
ii. Current Reserve Fund Deposit 5
iii Current Reserve Fund Advances
iv. Ending Reserve Fund Balance (required amount = $250,000)
---------------------------------------------------------------------------------------------------------------------------------
32 i. Available Excess Interest
ii. Distribution Account Shortfall (P&S 6.02xvi )
iii Class R Distribution Amount For Such Distribution Date 10
---------------------------------------------------------------------------------------------------------------------------------
33 i. Ending Pool Principal Balance (P&S 6.02vii )
ii. Ending Pool Balance Factor
---------------------------------------------------------------------------------------------------------------------------------
34 Ending Class A Principal Balance
35 Ending Class B Principal Balance
=================================================================================================================================
</TABLE>
<TABLE>
<S> <C> <C>
----------------------------------------------------------------------------------------------------------------------------
1 Beginning Pool Principal Balance 276,135,138.58
2 Beginning Pool Balance Factor 83.972625%
----------------------------------------------------------------------------------------------------------------------------
3 Beginning Class A Principal Balance 272,023,665.58
4 Beginning Class B Principal Balance 4,111,473.00
----------------------------------------------------------------------------------------------------------------------------
5 Aggregate of all Monthly Principal Payments 0.00
6 Aggregate of all Principal Prepayments Received 4,111,376.41
7 Aggregate of any Net Liquidation Proceeds Received 0.00
8 Aggregate of any Insurance Proceeds Received 0.00
9 Aggregate of any Awards or Settlements From Condemnation Proceedings 0.00
10 Aggregate of any Proceeds From Repurchased Mortgage Loans 201,000.00
11 Aggregate of any Revenues From Fidelity Bond or Mortgage Interest Insurance Policy 0.00
12 Aggregate of any Revenues From Foreclosure or Deed Net of any Advances 0.00
13 Current Principal Advances 0.00
14 Current Servicer Principal Reimbursements 0.00
15 Total Principal Available For Distribution (5+6+7+8+9+10+11+12+13-14) 4,312,376.41
16 Unrecovered Principal Amounts (Liquidation Loss) 0.00
17 Aggregate of all Interest Payments Received 1,797,848.60
17a Prefunding Account Interest Earned 0.00
17b Accrued Interest at Cl A pass-through rate x Pre-funded Amount for 11 days (1st dist only) 0.00
18 Current Servicing Fee 46,355.16
19 Monthly Interest Advance (Recovery) based on Delinquent Accounts (27,497.90)
19 i. Current Servicer Interest Advance (Recovery) (27,497.90)
20 Scheduled Formula Principal Distribution Amount (5+13-14) 0.00
21 Unscheduled Formula Principal Distribution Amount (6+7+8+9+10+11+12) 4,312,376.41
22 Total Interest Available For Distribution (17+17a+17b-18+19i) 1,723,995.54
23 Total Funds Available For Distribution (15+22) 6,036,371.95
----------------------------------------------------------------------------------------------------------------------------
24 Formula Principal Distribution Amount (Lines 20 + 21) 4,312,376.41
----------------------------------------------------------------------------------------------------------------------------
25 i. Class A Percentage (Beg. Class A prin bal / Beg. pool prin bal.) 98.51%
ii. Class A Percentage x Scheduled Formula Principal Distribution Amount (Line 20) 0.00
iii. Class A Prepayment Percentage 100.00%
iv. Class A Prepayment Percentage x Unscheduled Formula Principal Distribution Amount 4,312,376.41
v. Class A Total Distribution Allocable to Principal 4,312,376.41
vi. Class A Recovered Principal Amount 0.00
vii Class A Unrecovered Principal Amount 0.00
26 i. Class A Total Distribution Allocable to Interest (min of: 26ii. or 23) 1,493,296.58
ii. Class A Interest Formula Distribution Amount (26iii. + 26iv.) 1,493,296.58
iii. Class A Current Interest (pass-through rate x A's upb) 1,493,296.58
iv. Class A Unpaid Interest Shortfall (Class A's interest s/f from preceding distribution date) 0.00
v. Class A Unpaid Interest Shortfall (Class A's interest s/f from preceding distribution date) 0.00
vi. Class A Unpaid Interest Shortfall included in 26i. (when 26iii. > 0: min of 26i. and 26iv.) 0.00
viii. Class A Interest Shortfall (26ii. - 26i.) 0.00
----------------------------------------------------------------------------------------------------------------------------
27 i Current Certificate Insurance Premium 27,038.23
ii. Reimbursement Amount 0.00
iii. Redirection of Certificate Insurance 0.00
iv. Total Amount to Certificate Insurer 27,038.23
----------------------------------------------------------------------------------------------------------------------------
28 i Subordinated Percentage 1.49%
ii Subordinated Percentage of Scheduled Formula Principal Distribution Amount 0.00
iii. Subordinated Prepayment Percentage 0.00%
iv. Subordinated Prepayment Percentage of Unscheduled Formula Principal Distribution Amount 0.00
v. Class B Total Distribution Allocable to Principal 0.00
vi. Class B Recovered Loss Amount 0.00
vii Class B Unrecovered Loss Amount 0.00
29 i Class B Total Distribution Allocable to Interest 25,895.34
ii. Class B Interest Formula Distribution Amount (29iii. + 29iv.) 25,895.34
iii. Class B Current Interest (pass-through rate x B's upb) 25,895.34
iv. Class B Unpaid Interest Shortfall (Class B's interest s/f from preceding distribution date) 0.00
v. Class B Unpaid Interest Shortfall (Class B's interest s/f from preceding distribution date) -
vi. Class B Unpaid Interest Shortfall included in 26i. (when 29iii. Greater Than 0: min of 29i. and 29iv.) 0.00
viii. Class B Interest Shortfall (29ii. - 29i.) 0.00
-----------------------------------------------------------------------------------------------------------------------------
30 i. Cumulative Master Servicer Advanced Interest 406,711.91
ii. Cumulative Master Servicer Advanced Principal 0.00
-----------------------------------------------------------------------------------------------------------------------------
31 i. Beginning Reserve Fund Balance 250,000.00
ii. Current Reserve Fund Deposit 0.00
iii Current Reserve Fund Advances 0.00
iv. Ending Reserve Fund Balance (required amount = $250,000) 250,000.00
-----------------------------------------------------------------------------------------------------------------------------
32 i. Available Excess Interest 177,765.39
ii. Distribution Account Shortfall 0.00
iii Class R Distribution Amount For Such Distribution Date 177,765.39
-----------------------------------------------------------------------------------------------------------------------------
33 i. Ending Pool Principal Balance 271,822,762.17
ii. Ending Pool Balance Factor 82.661233%
-----------------------------------------------------------------------------------------------------------------------------
34 Ending Class A Principal Balance 267,711,289.17
35 Ending Class B Principal Balance 4,111,473.00
=============================================================================================================================
</TABLE>
<PAGE> 2
STATEMENT TO CERTIFICATEHOLDERS PAGE 6
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
MLCC Mortgage Investors, Inc.
Senior/Subordinate Mortgage Pass-Through Certificates, Series 1997A Current Collection Period: 01-Dec-97 to 31-Dec-97
PASS-THROUGH RATES CURRENT DISTRIBUTION: LIBOR= 6.1250%
<S> <C> <C> <C> <C>
Class A Certificates, Series 1997A LIBOR + 0.25% 6.37500% Original Closing Date: 16-Dec-97
Class B Certificates, Series 1997A Alternate Rate 7.31417% Distribution Date: 15-Jan-98
Weighted Avg Net Mtg Rate (Alt. Rate) 7.31417%
</TABLE>
<TABLE>
<S> <C> <C> <C>
----------------------------------------------------------------------------------------------------------------------------
1 i. Class A Total Distribution Allocable to Principal 13.279965
ii. Class A Percentage x Scheduled Formula Principal Distribution Amount (Line 20) 0.000000
iii. Class A Prepayment Percentage x Unscheduled Formula Principal Distribution Amount 13.279965
iv Class A Recovered Principal Amount 0.000000
v Class A Unrecovered Principal Amount 0.000000
2 i. Class A Total Distribution Allocable to Interest (min of: 26ii. or 23) 4.598607
ii. Class A Unpaid Interest Shortfall (Class A's interest s/f from preceding distribution date) 4.598607
iii. Class A Unpaid Interest Shortfall included in 26i. (when 26iii. > 0: min of 26i. and 26iv.) 0.000000
iv Class A Unpaid Interest Shortfall (Class A's interest s/f from preceding distribution date) 0.000000
----------------------------------------------------------------------------------------------------------------------------
3 i. Class B Total Distribution Allocable to Principal 0.000000
ii. Subordinated Percentage of Scheduled Formula Principal Distribution Amount 0.000000
iii. Subordinated Prepayment Percentage of Unscheduled Formula Principal Distribution Amount 0.000000
iv Class B Recovered Loss Amount 0.000000
v Class B Unrecovered Loss Amount 0.000000
4 i. Class B Total Distribution Allocable to Interest 6.298312
ii. Class B Interest Formula Distribution Amount (29iii. + 29iv.) 6.298312
iii. Class B Current Interest (pass-through rate x B's upb) 6.298312
iv Class B Unpaid Interest Shortfall (Class B's interest s/f from preceding distribution date) 0.000000
----------------------------------------------------------------------------------------------------------------------------
5 Ending Pool Principal Balance 271,822,762.17
6 Ending Pool Balance Factor 82.661233%
7 Ending Class A Principal Balance 267,711,289.17
8 Ending Class B Principal Balance 4,111,473.00
----------------------------------------------------------------------------------------------------------------------------
9 i. Current Master Servicer Advanced (Recovered) Interest (27,497.90)
ii. Current Master Servicer Advanced (Recovered) Principal 0.00
iii. Current Trustee Advanced Interest 0.00
iv Current Trustee Advanced Principal 0.00
v Additional Servicing Compensation (P&S 6.02ix ) 0.00
vi Amount of Servicing Advances Paid by Master Servicer (P&S 6.02 x ) 0.00
vii Formula Principal Amount & Unrecovered Principal Amounts (P&S 6.02iv ) 0.00
viii Amount of Delinquencies of Mortgage Loans 54,798.39
ix CLASS A ALT. RATE FOR NEXT DISTRIBUTION DATE: 15-JAN-98 0.00000%
x CLASS B ALT. RATE FOR NEXT DISTRIBUTION DATE: 15-JAN-98 0.00000%
----------------------------------------------------------------------------------------------------------------------------
10 i Number of Mortgage Loans 30 to 59 Days Delinquent 17
ii Aggregate Principal Balances of Mortgage Loans 30 to 59 Days Delinquent 6,138,720.60
11 i Number of Mortgage Loans 60 to 89 Days Delinquent 2
ii Aggregate Principal Balances of Mortgage Loans 60 to 89 Days Delinquent 1,153,700.00
12 i Number of Mortgage Loans 90 or More Days Delinquent 0
ii Aggregate Principal Balances of Mortgage Loans 90 or More Days Delinquent 0.00
13 i Number of Mortgage Loans in Foreclosure 0
ii Aggregate Principal Balances of Mortgage Loans in Foreclosure 0.00
14 Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed 0.00
15 Aggregate Net Liquidation Losses from Liquidated Mortgage Loans (P&S 6.02xiii) 0.00
============================================================================================================================
</TABLE>
