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<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) May 12, 1997
------------------
The Money Store Trust 1997-A and the Originators as listed below under a Pooling
and Servicing Agreement dated as of February 28, 1997 providing for the issuance
of The Money Store Asset Backed Certificates, Series 1997-A
TMS Mortgage Inc.
The Money Store Home Equity Corp
The Money Store/Minnesota Inc.
The Money Store/Kentucky Inc.
The Money Store/D.C. Inc.
-------------------------
(Exact name of registrant as specified in its charter)
New Jersey 333-20817-09 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 May 12, 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.
TMS MORTGAGE INC.
By: /s/ Harry Puglisi
-------------------------
Harry Puglisi
Treasurer
Dated: May 15, 1997
<PAGE>
<TABLE>
<CAPTION>
SERVICER'S CERTIFICATE
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 MAY 12, 1997 DETERMINATION DATE.
POOL I POOL II POOL III
<S> <C> <C> <C>
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $7,845,291.30 $ 5,193,796.70 $87,218.59
ADJ : RECALCULATION 0.00 0.00 0.00
-------------------------------------------
7,845,291.30 5,193,796.70 87,218.59
LESS: SERVICE FEE (7.03 & 5.04) 66,520.34 44,286.14 1,788.53
CONTINGENCY FEE (7.03 & 5.04) 66,520.34 44,286.14 1,788.53
OTHER SERVICER FEES (Late Charges / Escrow) 49,229.61 30,622.92 0.00
(7.03 & 5.04)
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00
-------------------------------------------
182,270.29 119,195.20 3,577.06
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 149,727.69 254,594.64 9,594.36
PRE-FUNDING ACCOUNT TRANSFER (6.02) 502,683.31 268,541.14 0.00
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 92,541.11 0.00 0.00
-------------------------------------------
744,952.11 523,135.78 9,594.36
LESS: EXCESS SPREAD (I-19) 1,110,132.04 686,489.86 26,528.62
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00
-------------------------------------------
1,110,132.04 686,489.86 26,528.62
-------------------------------------------
AVAILABLE REMITTANCE AMOUNT 7,297,841.08 4,911,247.43 66,707.27
===========================================
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED 91,812,015.49
IN PRIOR SERVICER'S CERTIFICATE
(B) CLASS A-2 PRINCIPAL BALANCE AS REPORTED 63,100,000.00
IN PRIOR SERVICER'S CERTIFICATE
(C) CLASS A-3 PRINCIPAL BALANCE AS REPORTED 75,800,000.00
IN PRIOR SERVICER'S CERTIFICATE
(D) CLASS A-4 PRINCIPAL BALANCE AS REPORTED 61,100,000.00
IN PRIOR SERVICER'S CERTIFICATE
(E) CLASS A-5 PRINCIPAL BALANCE AS REPORTED 31,100,000.00
IN PRIOR SERVICER'S CERTIFICATE
(F) CLASS A-6 PRINCIPAL BALANCE AS REPORTED 45,000,000.00
IN PRIOR SERVICER'S CERTIFICATE
(G) CLASS A-7 PRINCIPAL BALANCE AS REPORTED 30,600,000.00
IN PRIOR SERVICER'S CERTIFICATE
</TABLE>
<PAGE>
<TABLE>
<S> <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 258,542,613.94
(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 9,970,239.02
3. PRINCIPAL DISTRIBUTION AMOUNTS :
CLASS A-1 5,662,943.85
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 5,662,943.85
CLASS A-10 4,008,842.63
CLASS A-11 0.00
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT 4,008,842.63
CLASS A-12 25,728.76
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT 25,728.76
4.TOTAL AMOUNT OF POOL I, II & III
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 877,302.87
POOL II 630,640.14
POOL III 626,055.49
(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 88 3,843,204.05
POOL II 36 2,934,445.44
POOL III 0 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 313,376.26
POOL II 347,897.32
POOL III 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 529,272.18
POOL II 128,582.29
POOL III 2,777.20
9. AMOUNT OF INTEREST RECEIVED
POOL I 3,110,209.20
POOL II 1,752,248.73
POOL III 84,441.39
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 149,727.69
POOL II 254,594.64
POOL III 9,594.36
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 697.00
POOL II 818.41
POOL III 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
13. CLASS A-1 REMITTANCE AMOUNT:
(A) C 498,080.18
(B) P 5,662,943.85
(C) C 0.00
(D) M 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 6,161,024.03
CLASS A-2 REMITTANCE AMOUNT:
(A) C 345,209.58
(B) P 0.00
(C) C 0.00
(D) M 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 2,686,590.60
(B) PRINCIPAL DISTRIBUTION AMOUNT 5,662,943.85
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 8,349,534.45
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,253,393.05
(B) PRINCIPAL DISTRIBUTION AMOUNT 4,008,842.63
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 5,262,235.68
CLASS A-11 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 280,500.00
(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 280,500.00
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,533,893.05
(B) PRINCIPAL DISTRIBUTION AMOUNT 4,008,842.63
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 5,542,735.68
CLASS A-12 (POOL III) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 62,521.71
(B) PRINCIPAL DISTRIBUTION AMOUNT 25,728.76
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 88,250.47
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 86,149,071.64
(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 254,533,771.31
(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 9,944,510.26
(M) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 461,849,071.64
(N) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 314,533,771.31
(O) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 9,944,510.26
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL
I, II AND III) 100.00%
(B) EXCESS SPREAD (POOL I) 1,110,132.04
EXCESS SPREAD (POOL II) 686,489.86
EXCESS SPREAD (POOL III) 26,528.62
TOTAL EXCESS SPREAD (POOL I, II and III) 1,823,150.51
(C) REMAINDER EXCESS SPREAD AMOUNT POOL I 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL I 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 0.00
POOL II 0.00
POOL III 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 272.430
POOL II 356.697
POOL III 339.281
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 11.696%
POOL II 9.900%
POOL III 11.680%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 66,520.34
POOL II 44,286.14
POOL III 1,788.53
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 66,520.34
POOL II 44,286.14
POOL III 1,788.53
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 19,479.67
POOL II 13,272.61
POOL III 415.43
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 38,959.00
POOL II 31,854.00
POOL III 4,570.00
(F) CLASS A-11 AUCTION AGENT FEE 9,875.00
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE
SERVICERS PURS POOL I POOL II
(A) SECTION 5.0 0.00 0.00
(B) SECTION 5.0 0.00 0.00
(C) SECTION 5.0 0.00 0.00
(D) SECTION 5.0 0.00 0.00
(E) SECTION 5.0 133,040.68 88,572.28
POOL III
(A) SECTION 5.0 0.00
(B) SECTION 5.0 0.00
(C) SECTION 5.0 0.00
(D) SECTION 5.0 0.00
(E) SECTION 5.0 3,577.06
21. CLASS
CURRENT CLASS A 86,149,071.64 0.91356386
ORIGINAL CLASS A- 94,300,000.00
CLASS A-2 POOL FACTOR (I-5):
CURRENT CLASS A 63,100,000.00 1.00000000
ORIGINAL CLASS A- 63,100,000.00
CLASS A-3 POOL FACTOR (I-5):
CURRENT CLASS A 75,800,000.00 1.00000000
ORIGINAL CLASS A- 75,800,000.00
CLASS A-4 POOL FACTOR (I-5):
CURRENT CLASS A 61,100,000.00 1.00000000
ORIGINAL CLASS A- 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 461,849,071.64 0.98265760
ORIGINAL POOL I PRINCIPAL BALANCE 470,000,000.00
CLASS A-10 FACTOR:
CURRENT CLASS A-10 PRINCIPAL BALANCE 254,533,771.31 0.97897604
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 314,533,771.31 0.98291804
ORIGINAL POOL II PRINCIPAL BALANCE 320,000,000.00
CLASS A-12 (POOL III FACTOR (I-5):
CURRENT CLASS A-12 PRINCIPAL BALANCE 9,944,510.26 0.99445103
ORIGINAL CLASS A-12 PRINCIPAL BALANCE 10,000,000.00
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 11.696%
POOL II 9.900%
POOL III 11.680%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE
MORTGAGE LOANS
POOL I 11.046%
POOL II 9.033%
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 7.051%
CLASS A-10 AND CLASS A-11 ADJUSTED MORTGAGE LOAN 5.986%
REMITTANCE RATE CLASS A-12 ADJUSTED MORTGAGE
LOAN REMITTANCE RATE 8.125%
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 02/28/97 03/31/97 04/30/97
-----------------------------------------
<S> <C> <C> <C>
POOL I 11.650% 11.700% 11.696%
POOL II 9.800% 9.892% 9.900%
POOL III 11.750% 11.680% 11.680%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
23. CLASS A-10 REMITTANCE RATE 5.81750%
CLASS A-11 REMITTANCE RATE (BASED ON AUCTION RATE) 5.6100%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-10 N/A
24. (A) LIBOR RATE 5.68750%
(B) AUCTION RATE 5.610%
25. POOL II NET FUNDS CAP (RATE) 9.399%
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 601,260.14
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT O (POOL I)
REMIC DELINQUENCIES AS OF -APRIL 30, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1997-A-I $343,311,847.07 8068 1 TO 29 DAYS 31,631,702.07 729 9.21%
30 TO 59 DAYS 4,702,826.34 88 1.37%
60 TO 89 DAYS 1,239,502.60 26 0.36%
90 AND OVER 711,161.56 11 0.21%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $38,285,192.57 854 11.15%
=============================
</TABLE>
<TABLE>
<CAPTION>
EXHIBIT O (POOL II)
REMIC DELINQUENCIES AS OF -APRIL 30, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1997-A-II $250,784,261.54 3250 1 TO 29 DAYS 21,330,001.46 269 8.51%
30 TO 59 DAYS 1,698,001.83 26 0.68%
60 TO 89 DAYS 1,286,913.54 14 0.51%
90 AND OVER 93,461.88 1 0.04%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $24,408,378.71 310 9.73%
=============================
</TABLE>
<PAGE>
EXHIBIT O ( POOL III )
<TABLE>
<CAPTION>
REMIC DELINQUENCIES AS OF -APRIL 30, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1997-A-III 9,983,255.52 52 1 TO 29 DAYS 417,700.97 2 4.18%
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 $417,700.97 2 4.18%
=============================
</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.
<TABLE>
<CAPTION>
POOL I
SUBCLAUSE CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4
- ---------------- --------------- -------------- -------------- -------------
<S> <C> <C> <C> <C>
(ii) 973.62 1,000.00 1,000.00 1,000.00
(vi) 40.76 0.00 0.00 0.00
(vii) 3.32 0.00 0.00 0.00
(viii) 5.61 0.00 0.00 0.00
(xiii) (a) 5.28 5.47 5.56 5.74
(b) 60.05 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) 913.56 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
SUBCLAUSE CLASS A-5 CLASS A-6 CLASS A-7 CLASS A-8
- ---------------- --------------- -------------- -------------- -------------
<S> <C> <C> <C> <C>
(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
</TABLE>
<TABLE>
<CAPTION>
POOL II POOL III POOL IV
SUBCLAUSE CLASS A-9 CLASS A-10 CLASS A-11 CLASS A-12 CLASS A-16
- ---------------- ------------- -------------- -------------- ------------- -------------
<S> <C> <C> <C> <C> <C>
(ii) 1,000.00 994.39 25,000.00 997.02 993.11
(vi) 0.00 0.00 0.00 0.00 35.15
(vii) 0.00 0.49 0.00 0.00 0.00
(viii) 0.00 0.00 0.00 0.28 0.17
(xiii) (a) 6.03 4.82 116.88 6.25 5.88
(b) 0.00 15.42 0.00 2.57 38.05
(c) 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00
(xv) 1,000.00 978.98 25,000.00 994.45 955.06
(xxxvi) 0.00 0.00 0.00 0.00 0.00
</TABLE>
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