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Previous: MONEY STORE AUTO TRUST 1997-1, 8-K, 1997-08-28 |
Next: MONEY STORE HOME IMPROVEMENT TRUST 1997-1, 8-K, 1997-08-28 |
<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) August 15, 1997
-----------------------
The Money Store Inc. (as Representative under a Pooling and Servicing Agreement
dated as of February 28, 1997 providing for the issuance of TMS Asset Backed
Certificates, Series 1997-A) 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 August 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: August 29, 1997
<PAGE>
Schedule A
List of Originators
-------------------
1997-A
------
The Money Store/D.C. Inc.
The Money Store/ Kentucky Inc.
The Money Store Home Equity Corp.
TMS Mortgage Inc.
<PAGE>
SERVICER'S CERTIFICATE
<TABLE>
<S> <C> <C> <C>
IN ACCORDANCE WITH SECTION 6.10 OF THE POOLING AND SERVICING
AGREEMENT DATED AS OF FEBRUARY 28,1997, THE MONEY STORE INC.
REPORTS THE FOLLOWING INFORMATION PERTAINING TO SERIES 1997-A
FOR THE AUGUST 12, 1997 DETERMINATION DATE.
POOL I POOL II POOL III
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $14,467,578.90 $8,297,857.66 $104,083.99
ADJ : RECALCULATION 0.00 0.00 0.00
-------------- ------------- -----------
14,467,578.90 8,297,857.66 104,083.99
LESS: SERVICE FEE (7.03 & 5.04) 90,273.08 59,987.29 2,097.85
CONTINGENCY FEE (7.03 & 5.04) 90,273.08 59,987.29 2,097.85
OTHER SERVICER FEES (Late Charges / Escrow) (7.03 & 5.04) 91,525.33 30,857.47 89.50
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00
-------------- ------------- -----------
272,071.49 150,832.05 4,285.20
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 1,802.38 5,543.66 0.00
PRE-FUNDING ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00
-------------- ------------- -----------
1,802.38 5,543.66 0.00
LESS: EXCESS SPREAD (I-19) 1,597,980.84 862,311.79 26,406.63
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00
-------------- ------------- -----------
1,597,980.84 862,311.79 26,406.63
-------------- ------------- -----------
AVAILABLE REMITTANCE AMOUNT 12,599,328.95 7,290,257.48 73,392.16
============== ============= ===========
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 70,045,644.98
(B) CLASS A-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 63,100,000.00
(C) CLASS A-3 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 75,800,000.00
(D) CLASS A-4 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 61,100,000.00
(E) CLASS A-5 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 31,100,000.00
(F) CLASS A-6 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 45,000,000.00
(G) CLASS A-7 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 30,600,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(H) CLASS A-8 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 32,000,000.00
(I) CLASS A-9 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 37,000,000.00
(J) CLASS A-10 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 243,429,078.33
(K) CLASS A-11 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 60,000,000.00
(L) CLASS A-12 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 9,881,376.51
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS A-1 11,573,084.01
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: 11,573,084.01
CLASS A-10 6,587,830.00
CLASS A-11 0.00
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT: 6,587,830.00
CLASS A-12 32,893.60
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT: 32,893.60
4.TOTAL AMOUNT OF POOL I, II & III
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 5,430,764.06
POOL II 3,133,021.47
POOL III 703,300.52
(B) SPECIFIED SUBORDINATED AMOUNT
POOL I 11,280,000.00
POOL II 10,720,000.00
POOL III 2,500,000.00
6. PRINCIPAL PREPAYMENT RECEIVED DURING
THE DUE PERIOD # ACCOUNTS DOLLARS
POOL I 200 7,047,149.54
POOL II 75 5,098,900.50
POOL III 0 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 1,089,125.58
POOL II 595,957.63
POOL III 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 2,019,374.21
POOL II 150,634.66
POOL III 5,914.54
9. AMOUNT OF INTEREST RECEIVED
POOL I 4,220,404.24
POOL II 2,421,507.40
POOL III 98,079.95
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 1,802.38
POOL II 5,543.66
POOL III 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 3,461.42
POOL II 748.39
POOL III 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 2,355.83
POOL II 665.30
POOL III 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 379,997.62
(B) PRINCIPAL DISTRIBUTION AMOUNT 11,573,084.01
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 11,953,081.63
CLASS A-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 345,209.58
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-2 REMITTANCE AMOUNT 345,209.58
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS A-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 421,637.50
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-3 REMITTANCE AMOUNT 421,637.50
CLASS A-4 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 350,815.83
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-4 REMITTANCE AMOUNT 350,815.83
CLASS A-5 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 182,971.67
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-5 REMITTANCE AMOUNT 182,971.67
CLASS A-6 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 270,375.00
(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 270,375.00
CLASS A-7 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 188,955.00
(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 188,955.00
CLASS A-8 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 205,466.67
(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 205,466.67
CLASS A-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 223,079.17
(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 223,079.17
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
POOL I REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 2,568,508.04
(B) PRINCIPAL DISTRIBUTION AMOUNT 11,573,084.01
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 14,141,592.05
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,217,824.22
(B) PRINCIPAL DISTRIBUTION AMOUNT 6,587,830.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 7,805,654.22
CLASS A-11 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 293,725.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-11 REMITTANCE AMOUNT 293,725.00
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,511,549.22
(B) PRINCIPAL DISTRIBUTION AMOUNT 6,587,830.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 8,099,379.22
CLASS A-12 (POOL III) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 61,964.47
(B) PRINCIPAL DISTRIBUTION AMOUNT 32,893.60
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 94,858.07
14. (A) REIMBURSABLE AMOUNTS 0.00
(B) CLASS X REMITTANCE AMOUNT PAYABLE PURSUANT
TO SECTION 6.08(d) (iii) AND ( iv)
POOL I 0.00
POOL II 0.00
POOL III 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
15. (A) CLASS A-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 58,472,560.97
(B) CLASS A-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 63,100,000.00
(C) CLASS A-3 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 75,800,000.00
(D) CLASS A-4 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 61,100,000.00
(E) CLASS A-5 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 31,100,000.00
(F) CLASS A-6 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 45,000,000.00
(G) CLASS A-7 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 30,600,000.00
(H) CLASS A-8 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 32,000,000.00
(I) CLASS A-9 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 37,000,000.00
(J) CLASS A-10 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 236,841,248.33
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 60,000,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(L) CLASS A-12 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 9,848,482.91
(M) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 434,172,560.97
(N) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 296,841,248.33
(O) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 9,848,482.91
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II AND III) 100.00%
(B) EXCESS SPREAD (POOL I) 1,597,980.84
EXCESS SPREAD (POOL II) 862,311.79
EXCESS SPREAD (POOL III) 26,406.63
TOTAL EXCESS SPREAD (POOL I, II and III) 2,486,699.27
(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
TOTAL REMAINDER EXCESS SPREAD AMOUNT POOL I, II and III 0.00
17. CUMULATIVE REALIZED LOSSES
POOL I 2,355.83
POOL II 665.30
POOL III 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 269.503
POOL II 353.763
POOL III 336.376
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 11.704%
POOL II 10.094%
POOL III 11.680%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 90,273.08
POOL II 59,987.29
POOL III 2,097.85
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 90,273.08
POOL II 59,987.29
POOL III 2,097.85
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 18,572.74
POOL II 12,642.88
POOL III 411.72
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT - MBIA
POOL I 37,145.00
POOL II 30,343.00
POOL III 4,529.00
(F) CLASS A-11 AUCTION AGENT FEE 10,204.17
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) 180,546.16 119,974.58
POOL III
(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)(i) 4,195.70
21. CLASS A-1 POOL FACTOR (I-5):
CURRENT CLASS A-1 PRINCIPAL BALANCE 58,472,560.97 0.62006958
ORIGINAL CLASS A-1 PRINCIPAL BALANCE 94,300,000.00
CLASS A-2 POOL FACTOR (I-5):
CURRENT CLASS A-2 PRINCIPAL BALANCE 63,100,000.00 1.00000000
ORIGINAL CLASS A-2 PRINCIPAL BALANCE 63,100,000.00
CLASS A-3 POOL FACTOR (I-5):
CURRENT CLASS A-3 PRINCIPAL BALANCE 75,800,000.00 1.00000000
ORIGINAL CLASS A-3 PRINCIPAL BALANCE 75,800,000.00
CLASS A-4 POOL FACTOR (I-5):
CURRENT CLASS A-4 PRINCIPAL BALANCE 61,100,000.00 1.00000000
ORIGINAL CLASS A-4 PRINCIPAL BALANCE 61,100,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS A-5 POOL FACTOR (I-5):
CURRENT CLASS A-5 PRINCIPAL BALANCE 31,100,000.00 1.00000000
ORIGINAL CLASS A-5 PRINCIPAL BALANCE 31,100,000.00
CLASS A-6 POOL FACTOR (I-5):
CURRENT CLASS A-6 PRINCIPAL BALANCE 45,000,000.00 1.00000000
ORIGINAL CLASS A-6 PRINCIPAL BALANCE 45,000,000.00
CLASS A-7 POOL FACTOR (I-5):
CURRENT CLASS A-7 PRINCIPAL BALANCE 30,600,000.00 1.00000000
ORIGINAL CLASS A-7 PRINCIPAL BALANCE 30,600,000.00
CLASS A-8 POOL FACTOR (I-5):
CURRENT CLASS A-8 PRINCIPAL BALANCE 32,000,000.00 1.00000000
ORIGINAL CLASS A-8 PRINCIPAL BALANCE 32,000,000.00
CLASS A-9 POOL FACTOR (I-5):
CURRENT CLASS A-8 PRINCIPAL BALANCE 37,000,000.00 1.00000000
ORIGINAL CLASS A-8 PRINCIPAL BALANCE 37,000,000.00
POOL I FACTOR:
CURRENT POOL I PRINCIPAL BALANCE 434,172,560.97 0.92377141
ORIGINAL POOL I PRINCIPAL BALANCE 470,000,000.00
CLASS A-10 FACTOR:
CURRENT CLASS A-10 PRINCIPAL BALANCE 236,841,248.33 0.91092788
ORIGINAL CLASS A-10 PRINCIPAL BALANCE 260,000,000.00
CLASS A-11 POOL FACTOR (I-5):
CURRENT CLASS A-11 PRINCIPAL BALANCE 60,000,000.00 1.00000000
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 60,000,000.00
POOL II FACTOR:
CURRENT POOL II PRINCIPAL BALANCE 296,841,248.33 0.92762890
ORIGINAL POOL II PRINCIPAL BALANCE 320,000,000.00
CLASS A-12 (POOL III FACTOR (I-5):
CURRENT CLASS A-12 PRINCIPAL BALANCE 9,848,482.91 0.98484829
ORIGINAL CLASS A-12 PRINCIPAL BALANCE 10,000,000.00
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 11.704%
POOL II 10.094%
POOL III 11.680%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 11.054%
POOL II 9.227%
POOL III 10.580%
(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 7.076%
CLASS A-10 AND CLASS A-11 ADJUSTED MORTGAGE LOAN
REMITTANCE RATE 5.994%
CLASS A-12 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 8.125%
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 05/31/97 06/30/97 07/31/97
-------- -------- --------
POOL I 11.716% 11.710% 11.704%
POOL II 9.930% 9.970% 10.094%
POOL III 0.000% 11.680% 11.680%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
23. CLASS A-10 REMITTANCE RATE 5.80969%
CLASS A-11 REMITTANCE RATE (BASED ON AUCTION RATE) 5.6850%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-10 N/A
24. (A) LIBOR RATE 5.67969%
(B) AUCTION RATE 5.685%
25. POOL II NET FUNDS CAP (RATE) 9.477%
CLASS A-10 NET FUNDS CAP 0.00
CLASS A-11 NET FUNDS CAP 0.00
26. CLASS A-10 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
CLASS A-11 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0
0.00
27. (A) AMOUNT OF DISTRIBUTION ALLOCABLE TO LIBOR
INTEREST CARRYOVER 0.00
(B) LIBOR INTEREST CARRYOVER BALANCE 0.00
28. OTHER INFORMATION
SPREAD ACCOUNT BALANCES
POOL I 0.00
POOL II 0.00
POOL III 609,081.97
</TABLE>
<PAGE>
EXHIBIT O (POOL I)
REMIC DELINQUENCIES AS OF - JULY 31, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1997-A-I $441,020,759.71 10393 1 TO 29 DAYS 66,733,427.11 1579 15.13%
30 TO 59 DAYS 5,657,704.53 133 1.28%
60 TO 89 DAYS 4,601,809.05 86 1.04%
90 AND OVER 4,209,927.14 65 0.95%
FORECLOSURE 1,427,964.84 26 0.32%
REO PROPERTY 0.00 0 0.00%
TOTALS $82,630,832.67 1,889 18.74%
============== ===== ======
EXHIBIT O (POOL II)
REMIC DELINQUENCIES AS OF - JULY 31, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1997-A-II $300,716,607.01 3785 1 TO 29 DAYS 44,097,033.04 574 14.66%
30 TO 59 DAYS 3,772,996.84 51 1.25%
60 TO 89 DAYS 1,623,494.30 28 0.54%
90 AND OVER 2,434,656.75 31 0.81%
FORECLOSURE 791,435.72 9 0.26%
REO PROPERTY 0.00 0 0.00%
TOTALS $52,719,616.65 693 17.53%
============== ===== ======
</TABLE>
<PAGE>
EXHIBIT O (POOL III)
REMIC DELINQUENCIES AS OF - JULY 31, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1997-A-III 9,969,680.52 52 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>
1997-A
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 (or per $25,000 for Class A-11)
original dollar amount as of the Cut-Off Date.
POOL I
<TABLE>
<CAPTION>
SUBCLAUSE CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4
- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C>
(ii) 742.80 1,000.00 1,000.00 1,000.00
(vi) 74.73 0.00 0.00 0.00
(vii) 11.55 0.00 0.00 0.00
(viii) 21.41 0.00 0.00 0.00
(xiii)(a) 4.03 5.47 5.56 5.74
(b) 122.73 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00
(xv) 620.07 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00
SUBCLAUSE CLASS A-5 CLASS A-6 CLASS A-7 CLASS A-8
- --------- --------- --------- --------- ---------
(ii) 1,000.00 1,000.00 1,000.00 1,000.00
(vi) 0.00 0.00 0 0.00
(vii) 0.00 0.00 0 0.00
(viii) 0.00 0.00 0 0.00
(xiii)(a) 5.88 6.01 6.18 6.42
(b) 0.00 0.00 0 0.00
(c) 0.00 0.00 0 0.00
(d) 0.00 0.00 0 0.00
(xv) 1,000.00 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0 0
POOL II POOL III
SUBCLAUSE CLASS A-9 CLASS A-10 CLASS A-11 CLASS A-12
- --------- --------- ---------- ---------- ----------
(ii) 1,000.00 936.27 25,000.00 988.14
(vi) 0.00 0.00 0.00 0.00
(vii) 0.00 0.58 0.00 0.00
(viii) 0.00 0.00 0.00 0.59
(xiii)(a) 6.03 4.68 122.39 6.20
(b) 0.00 25.34 0.00 3.29
(c) 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00
(xv) 1,000.00 910.93 25,000.00 984.85
(xxxvi) 0.00 0.00 0.00 0.00
</TABLE>
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