______________________________________________________________________
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) March 27, 1997
FINANCIAL ASSET SECURITIES CORP., as depositor under a
certain Pooling and Servicing Agreement, dated as of June
21, 1996, providing for the issuance of Cityscape Home
Equity Loan Trust 1996-2, Home Equity Loan Pass-Through
Certificates, Series 1996-2.
FINANCIAL ASSET SECURITIES CORP.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-21071 06-1442101
- ---------------------------- ------------- ------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
600 Steamboat Road
Greenwich, Connecticut 06830
- ---------------------- ----------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (203) 625-2700
----- --------
_____________________________________________________________________
Item 5. Other Events.
- ---- ------------
Pursuant to the Pooling and Servicing Agreement, the Series 1996-2
Trustee distributed statements, which are annexed hereto as Exhibit 1, to the
Series 1996-2 Certificateholders for the Distribution Dates in 1996.
Item 7. Financial Statements, Pro Forma Financial
- ---- -----------------------------------------
Information and Exhibits.
------------------------
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
1. Statements to Certificateholders for Series 1996-2.
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 hereunto duly authorized.
FINANCIAL ASSET SECURITIES CORP.
By: /s/Peter McMullin
-------------------------------
Peter McMullin
Vice President
Dated: March 27, 1997
Exhibit Index
-------------
Exhibit Page
- ------- ----
1. Statement to Certificateholders for Series 1996-2 6
EXHIBIT 1
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-JUL-96
<TABLE>
<CAPTION> ORIGINAL BEGINNING Ending
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL Certificate
CUSIP CLASS FACE VALUE BALANCE DISTRIBUTION DISTRIBUTIONDISTRIBUTION Balance
<S> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 113,650,000.00 113,650,000.00 357,723.05 217,829.17 575,552.22 113,292,276.95
178779AM6 A-2 62,600,000.00 62,600,000.00 0.00 125,200.00 125,200.00 62,600,000.00
178779AN4 A-3 31,460,000.00 31,460,000.00 0.00 66,415.56 66,415.56 31,460,000.00
178779AP9 A-4 20,850,000.00 20,850,000.00 0.00 45,464.58 45,464.58 20,850,000.00
178779AQ7 A-5 23,391,733.30 23,391,733.30 0.00 52,631.40 52,631.40 23,391,733.30
R 0.00 0.00 0.00 0.00 0.00 0.00
Total 251,951,733.30 251,951,733.30 357,723.05 507,540.71 865,263.76 251,594,010.25
</TABLE>
<TABLE>
<CAPTION> AMOUNTS PER $1,000 UNIT PASS THROUGH RATES
Principal Interest Total Ending Original
Distribution Distribution Distribution Certificate Pass Current Pass
CUSIP Class Balance Class Through Rate Through Rate
<S> <C> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 3.14758513 1.91666670 5.064251839 996.85241487 A-1 6.90000% 6.90000%
178779AM6 A-2 0.00000000 2.00000000 2.00000000 1,000.00000000 A-2 7.20000% 7.20000%
178779AN4 A-3 0.00000000 2.11111125 2.11111125 1,000.00000000 A-3 7.60000% 7.60000%
178779AP9 A-4 0.00000000 2.18055540 2.18055540 1,000.00000000 A-4 7.85000% 7.85000%
178779AQ7 A-5 0.00000000 2.25000000 2.25000000 1,000.00000000 A-5 8.10000% 8.10000%
Total 1.41980785 2.01443627 3.43424413 998.58019215
</TABLE>
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
MARIAN ONISCHAK
HARRIS TRUST AND SAVINGS BANK
311 WEST MONROE - 12 FLOOR
CHICAGO, IL 60690
DISTRIBUTION LIST: CERTIFICATE INSURER, ORIGINATOR, PLACEMENT AGENTS,
SERVICER AND EACH CERTIFICATEHOLDER.
<TABLE>
<CAPTION>
SEC 4.05(b) O/C
Total Principal Scheduled Increase/
Distribution Principal Prepayments Liquidations (Reduction) Total
<S> <C> <C> <C> <C> <C>
Class A-1 14,043.04 101,553.36 0.00 242,126.65 357,723.05
Per $1000 Unit 0.12356392 0.89356234 0.00000000 2.13045886 3.14758513
Class A-2 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-3 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-4 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-5 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A Certs 14.043.04 101,553.36 0.00 242,126.65 357,723.05
Per $1000 Unit 0.05573702 0.40306673 0.00000000 0.96100411 1.41980785
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
SEC. 4.05 (d) Insured Payment 0.00
Class A-1 Allocation 0.00
Class A-2 Allocation 0.00
Class A-3 Allocation 0.00
Class A-4 Allocation 0.00
Class A-5 Allocation 0.00
SEC. 4.05 (f) Overcollateralization Reduction Amount 0.00
SEC. 4.05 (g) Overcollateralization Deficit 0.00
SEC. 4.05 (h) Specified Overcollateralization Deficiency Amount 10,581,972.80
SEC. 4.05 (i) Current Period Realized Losses 0.00
SEC. 4.05 (j) Overcollateralized Amount 242,126.65
SEC. 4.05 (k) Class A Carry-Forward Amount 0.00
SEC. 4.05 (l) Substitution Shortfall Amounts 0.00
Loan Purchase Prices 0.00
SEC. 4.05 (m) Ending Weighted Average Mortgage Rate 11.697750%
SEC. 4.05 (n) Weighted Average Remaining Term (months) 193.5
SEC. 4.05 (o) Number of Loans Outstanding (incl. all Sub. Transfers to date) 3805
Count Balance
SEC. 4.05 (p) Cumulative Liquidations 0 0.00
SEC. 4.05 (q) Cumulative Realized Losses 0.00
Cumulative Realized Losses as % of Maximum Collateral Amount 0.000000%
SEC. 4.05 (r) Sum of Three Largest Loan Balances Outstanding 1,462,802.40
SEC. 4.05 (s) Monthly Excess Spread 242,126.65
SEC. 4.05 (t) Outstanding Aggregate Loan Balance (end of Due Period) 251,836,136.90
SEC. 4.05 (v) & (w) Reflected on separate reports, if applicable.
SEC. 4.05 (x) Reimbursement Amount 0.00
</TABLE>
12-JUL-96
CITYSCAPE HOME EQUITY LOAN TRUST 1996-2
MORTGAGE PASS-THROUGH CERTIFICATES
DETAILED SERVICER REMITTANCE INFORMATION
AS OF JUNE 30, 1996
<TABLE>
<CAPTION>
<S> <C>
Number of Loans Outstanding: 3,805
Total Outstanding Principal Balance: $251,836,136.90
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(A) Delinquency Summary
# Days Delinquent # Loans $ Volumes %
<S> <C> <C> <C> <C>
30-59 31 $1,908,259.96 0.758%
60-89 0 $0.00 0.000%
90+(including FC) 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(B) Foreclosure Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Foreclosure 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(C) Bankruptcy Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Bankruptcy 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(D) REO Summary
Status # Loans $ Volumes % Book Value
<S> <C> <C> <C> <C> <C>
REO 0 $0.00 0.000% $90.00
</TABLE>
***
<TABLE>
<CAPTION>
Section 4.05(E) REO Detail
Property Value st. Cost of Unreimbursed Umreimbursed
Name Account # Balance Original Most Recent Disp. Dlq. Advances reg. Advances
<S> <C> <C> <C> <C> <C> <C> <C> <C>
None N/A N/A N/A N/A N/A N/A N/A
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(F) Foreclosure Detail
Property Value LTV
Name Account # Balance Original Most Recent Original Most Recent
<S> <C> <C> <C> <C> <C> <C> <C>
None N/A N/A N/A N/A N/A N/A
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-JUL-96
<TABLE>
<CAPTION> Remittance Report
Interest Principal
<S> <C> <C> <C>
SEC. 4.06 (a) (i) Insured Distribution Amount 507,540.71 0.00
Class A-1 Allocation 217,829.17 0.00
Class A-2 Allocation 125,200.00 0.00
Class A-3 Allocation 66,415.56 0.00
Class A-4 Allocation 45,464.58 0.00
Class A-5 Allocation 52,631.40 0.00
SEC. 4.06 (a) (ii) Available Funds Shortfall 0.00
SEC. 4.06 (a) (iii) Current Period Delinquency Advances
(After taking Capitalized Interest Requirement into 168,198.54
consideration)
Aggregate Delinquency Advances Outstanding 168,198.54
Current Period Nonrecoverable Delinquency Advances 0.00
Interest Principal Total
SEC. 4.06 (a) (iv) & Reimbursement Amount 0.00 0.00 0.00
(v)
SEC. 4.06 (a) (vi) Prepayment Interest Shortfall deposited by 0.00
Servicer
SEC. 4.06 (a) (vii) Overcollateralization Increase Amount from Monthly Excess 242,126.65
Spread
Overcollateralized Amount 242,126.65
</TABLE>
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
MARIAN ONISCHAK
HARRIS TRUST AND SAVINGS BANK
311 WEST MONROE - 12 FLOOR
CHICAGO, IL 60690
DISTRIBUTION LIST: ORIGINATOR, CERTIFICATE INSURER, AND SERVICER
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-JUL-96
<TABLE>
<CAPTION> ORIGINAL BEGINNING Ending
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL Certificate
CUSIP CLASS FACE VALUE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION Balance
<S> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 113,650,000.00 113,292,276.95 2,266,197.78 651,430.59 2,917,628.37 111,026,079.17
178779AM6 A-2 62,600,000.00 62,600,000.00 0.00 375,600.00 375,600.00 62,600,000.00
178779AN4 A-3 31,460,000.00 31,460,000.00 0.00 199,246.67 199,246.67 31,460,000.00
178779AP9 A-4 20,850,000.00 20,850,000.00 0.00 136,393.75 136,393.75 20,850,000.00
178779AQ7 A-5 23,391,733.30 23,391,733.30 0.00 157,894.20 157,894.20 23,391,733.30
R 0.00 0.00 0.00 0.00 0.00 0.00
Total 251,951,733.30 251,594,010.25 2,266,197.78 1,520,565.21 3,786,762.99 249,327,812.47
</TABLE>
<TABLE>
<CAPTION> AMOUNTS PER $1,000 UNIT PASS THROUGH RATES
Principal Interest Total Ending Original Pass Current Pass
CUSIP Class Distribution Distribution Distribution Certificate Through Rate Through Rate
Balance Class
<S> <C> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 19.94014765 5.73190136 25.67204901 976.91226722 A-1 6.90000% 6.90000%
178779AM6 A-2 0.00000000 6.00000000 6.00000000 1,000.00000000 A-2 7.20000% 7.20000%
178779AN4 A-3 0.00000000 6.33333344 6.33333344 1,000.00000000 A-3 7.60000% 7.60000%
178779AP9 A-4 0.00000000 6.54166667 6.54166667 1,000.00000000 A-4 7.85000% 7.85000%
178779AQ7 A-5 0.00000000 6.75000001 6.75000001 1,000.00000000 A-5 8.10000% 8.10000%
Total 8.99457110 6.03514487 15.02971597 989.58562104
</TABLE>
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
MARIAN ONISCHAK
HARRIS TRUST AND SAVINGS BANK
311 WEST MONROE - 12 FLOOR
CHICAGO, IL 60690
DISTRIBUTION LIST: CERTIFICATE INSURER, ORIGINATOR, PLACEMENT AGENTS,
SERVICER AND EACH CERTIFICATEHOLDER.
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-AUG-96
<TABLE>
<CAPTION>
SEC 4.05(b) O/C
Total Principal Scheduled Increase/
Distribution Principal Prepayments Liquidations (Reduction) Total
<S> <C> <C> <C> <C> <C>
Class A-1 125,926.56 1,344,621.85 0.00 795,649.37 2,266,197.78
Per $1000 Unit 1.10802077 11.83125253 0.00000000 7.00087435 19.94014765
Class A-2 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-3 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-4 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-5 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A Certs 125,926.56 1,344,621.85 0.00 795,649.37 2,266,197.78
Per $1000 Unit 0.49980430 5.33682318 0.00000000 3.15794363 8.99457110
</TABLE>
<TABLE>
<CAPTION>
<S> <S> <C>
SEC. 4.05 (d) Insured Payment 0.00
Class A-1 Allocation 0.00
Class A-2 Allocation 0.00
Class A-3 Allocation 0.00
Class A-4 Allocation 0.00
Class A-5 Allocation 0.00
SEC. 4.05 (f) Overcollateralization Reduction Amount 0.00
SEC. 4.05 (g) Overcollateralization Deficit 0.00
SEC. 4.05 (h) Specified Overcollateralization Deficiency Amount 10,339,846.15
SEC. 4.05 (i) Current Period Realized Losses 0.00
SEC. 4.05 (j) Overcollateralized Amount 1,037,776.02
SEC. 4.05 (k) Class A Carry-Forward Amount 0.00
SEC. 4.05 (l) Substitution Shortfall Amounts 0.00
Loan Purchase Prices 0.00
SEC. 4.05 (m) Ending Weighted Average Mortgage Rate 11.693663%
SEC. 4.05 (n) Weighted Average Remaining Term (months) 192.6
SEC. 4.05 (o) Number of Loans Outstanding (incl. all Sub. Transfers to date) 3784
Count Balance
SEC. 4.05 (p) Cumulative Liquidations 0 0.00
SEC. 4.05 (q) Cumulative Realized Losses 0.00
Cumulative Realized Losses as % of Maximum Collateral Amount 0.000000%
SEC. 4.05 (r) Sum of Three Largest Loan Balances Outstanding 1,462,352.61
SEC. 4.05 (s) Monthly Excess Spread 795,649.37
SEC. 4.05 (t) Outstanding Aggregate Loan Balance (end of Due Period) 250,365,588.49
SEC. 4.05 (v) & (w) Reflected on separate reports, if applicable.
SEC. 4.05 (x) Reimbursement Amount 0.00
</TABLE>
14-AUG-96
CITYSCAPE HOME EQUITY LOAN TRUST 1996-2
MORTGAGE PASS-THROUGH CERTIFICATES
DETAILED SERVICER REMITTANCE INFORMATION
AS OF JULY 31, 1996
<TABLE>
<CAPTION>
<S> <C>
Number of Loans Outstanding: 3,784
Total Outstanding Principal Balance: $250,365,588.49
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(A) Delinquency Summary
# Days Delinquent # Loans $ Volumes %
<S> <C> <C> <C> <C>
30-59 136 $8,146,664.30 3.254%
60-89 5 $332,945.62 0.133%
90+(including FC) 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(B) Foreclosure Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Foreclosure 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(C) Bankruptcy Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Bankruptcy 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(D) REO Summary
Status # Loans $ Volumes % Book Value
<S> <C> <C> <C> <C> <C>
REO 0 $0.00 0.000% $0.00
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(E) REO Detail
Property Value Unreimbursed Umreimbursed
Original Most Recent st. Cost of Dlq. Advances reg. Advances
Name Account # Balance Disp.
<S> <C> <C> <C> <C> <C> <C> <C> <C>
None N/A N/A N/A N/A N/A N/A N/A
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(F) Foreclosure Detail
Property Value LTV
Name Account # Balance Original Most Recent Original Most Recent
<S> <C> <C> <C> <C> <C> <C> <C>
None N/A N/A N/A N/A N/A N/A
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-AUG-96
<TABLE>
<CAPTION> Remittance Report
Interest Principal
<S> <C> <C> <C>
SEC. 4.06 (a) (i) Insured Distribution Amount 1,520,565.21 0.00
Class A-1 Allocation 651,430.59 0.00
Class A-2 Allocation 375,600.00 0.00
Class A-3 Allocation 199,246.67 0.00
Class A-4 Allocation 136,393.75 0.00
Class A-5 Allocation 157,894.20 0.00
SEC. 4.06 (a) (ii) Available Funds Shortfall 0.00
SEC. 4.06 (a) (iii) Current Period Delinquency Advances
Does not include $51,799.72 Special Advance for 8/25/96 264,583.86
payment
Aggregate Delinquency Advances Outstanding 264,583.86
Current Period Nonrecoverable Delinquency Advances 0.00
Interest Principal Total
SEC. 4.06 (a) (iv) & Reimbursement Amount 0.00 0.00 0.00
(v)
SEC. 4.06 (a) (vi) Prepayment Interest Shortfall deposited by 0.00
Servicer
SEC. 4.06 (a) (vii) Overcollateralization Increase Amount from Monthly Excess 795,649.37
Spread
Overcollateralized Amount 1,037,776.02
</TABLE>
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
MARIAN ONISCHAK
HARRIS TRUST AND SAVINGS BANK
311 WEST MONROE - 12 FLOOR
CHICAGO, IL 60690
DISTRIBUTION LIST: ORIGINATOR, CERTIFICATE INSURER, AND SERVICER
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
INSURER'S REPORT
DISTRIBUTION PERIOD: 25-AUG-96
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-AUG-96
<TABLE>
<CAPTION>
<S> <C>
- Rolling six Month Delinquency Rate (beginning in 6th Determination NA
- Cumulative Loss Percentage 0.000000%
- Rollinig Twelve Month Loss Rate (beginning on 12th Determination) NA
- Percentage of 30 + Delinquent Mixed-use properties 0.0000%
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-SEP-96
<TABLE>
<CAPTION> ORIGINAL BEGINNING Ending
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL Certificate
CUSIP CLASS FACE VALUE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION Balance
<S> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 113,650,000.00 111,026,079.17 2,835,561.95 638,399.96 3,473,961.91 108,190,517.22
178779AM6 A-2 62,600,000.00 62,600,000.00 0.00 375,600.00 375,600.00 62,600,000.00
178779AN4 A-3 31,460,000.00 31,460,000.00 0.00 199,246.67 199,246.67 31,460,000.00
178779AP9 A-4 20,850,000.00 20,850,000.00 0.00 136,393.75 136,393.75 20,850,000.00
178779AQ7 A-5 23,391,733.30 23,391,733.30 0.00 157,894.20 157,894.20 23,391,733.30
R 0.00 0.00 0.00 0.00 0.00 0.00
Total 251,951,733.30 249,327,812.47 2,835,561.95 1,507,534.58 4,343,096.53 246,492,250.52
</TABLE>
<TABLE>
<CAPTION> AMOUNTS PER $1,000 UNIT PASS THROUGH RATES
Principal Interest Total Ending
Distribution Distribution Distribution Certificate Original Pass Current Pass
CUSIP Class Balance Class Through Rate Through Rate
<S> <C> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 24.94995117 5.61724558 30.56719674 951.96231606 A-1 6.90000% 6.90000%
178779AM6 A-2 0.00000000 6.00000000 6.00000000 1,000.00000000 A-2 7.20000% 7.20000%
178779AN4 A-3 0.00000000 6.33333344 6.33333344 1,000.00000000 A-3 7.60000% 7.60000%
178779AP9 A-4 0.00000000 6.54166667 6.54166667 1,000.00000000 A-4 7.85000% 7.85000%
178779AQ7 A-5 0.00000000 6.75000001 6.75000001 1,000.00000000 A-5 8.10000% 8.10000%
Total 11.25438556 5.98342611 17.23781168 978.33123548
</TABLE>
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
MARIAN ONISCHAK
HARRIS TRUST AND SAVINGS BANK
311 WEST MONROE - 12 FLOOR
CHICAGO, IL 60690
DISTRIBUTION LIST: CERTIFICATE INSURER, ORIGINATOR, PLACEMENT AGENTS,
SERVICER AND EACH CERTIFICATEHOLDER.
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-SEP-96
<TABLE>
<CAPTION>
SEC 4.05(b) O/C
Total Principal Scheduled Increase/
Distribution Principal Prepayments Liquidations (Reduction) Total
<S> <C> <C> <C> <C> <C>
Class A-1 131,921.18 1,909,166.42 0.00 794,474.35 2,835,561.95
Per $1000 Unit 1.16076709 16.79864866 0.00000000 6.99053542 24.94995117
Class A-2 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-3 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-4 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-5 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A Certs 131,921.18 1,909,166.42 0.00 794,474.35 2,835,561.95
Per $1000 Unit 0.52359703 7.57750858 0.00000000 3.15327995 11.25438556
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
SEC. 4.05 (d) Insured Payment 0.00
Class A-1 Allocation 0.00
Class A-2 Allocation 0.00
Class A-3 Allocation 0.00
Class A-4 Allocation 0.00
Class A-5 Allocation 0.00
SEC. 4.05 (f) Overcollateralization Reduction Amount 0.00
SEC. 4.05 (g) Overcollateralization Deficit 0.00
SEC. 4.05 (h) Specified Overcollateralization Deficiency Amount 9,554,196.78
SEC. 4.05 (i) Current Period Realized Losses 0.00
SEC. 4.05 (j) Overcollateralized Amount 1,832,250.37
SEC. 4.05 (k) Class A Carry-Forward Amount 0.00
SEC. 4.05 (l) Substitution Shortfall Amounts 0.00
Loan Purchase Prices 0.00
SEC. 4.05 (m) Ending Weighted Average Mortgage Rate 11.691612%
SEC. 4.05 (n) Weighted Average Remaining Term (months) 191.6
SEC. 4.05 (o) Number of Loans Outstanding (incl. all Sub. Transfers to date) 3753
Count Balance
SEC. 4.05 (p) Cumulative Liquidations 0 0.00
SEC. 4.05 (q) Cumulative Realized Losses 0.00
Cumulative Realized Losses as % of Maximum Collateral Amount 0.000000%
SEC. 4.05 (r) Sum of Three Largest Loan Balances Outstanding 1,462,029.20
SEC. 4.05 (s) Monthly Excess Spread 794,474.35
SEC. 4.05 (t) Outstanding Aggregate Loan Balance (end of Due Period) 248,324,500.89
SEC. 4.05 (v) & (w) Reflected on separate reports, if applicable.
SEC. 4.05 (x) Reimbursement Amount 0.00
</TABLE>
13-SEP-96
CITYSCAPE HOME EQUITY LOAN TRUST 1996-2
MORTGAGE PASS-THROUGH CERTIFICATES
DETAILED SERVICER REMITTANCE INFORMATION
AS OF AUGUST 31, 1996
<TABLE>
<CAPTION>
<S> <C>
Number of Loans Outstanding: 3,753
Total Outstanding Principal Balance: $248,324,500.89
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(A) Delinquency Summary
# Days Delinquent # Loans $ Volumes %
<S> <C> <C> <C> <C>
30-59 183 $11,632,315.32 4.684%
60-89 49 $3,187,941.37 1.284%
90+(including FC) 3 $179,601.87 0.072%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(B) Foreclosure Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Foreclosure 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(C) Bankruptcy Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Bankruptcy 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(D) REO Summary
Status # Loans $ Volumes % Book Value
<S> <C> <C> <C> <C> <C>
REO 0 $0.00 0.000% $0.00
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(E) REO Detail
Property Value
Original Most Recent st. Cost of Unreimbursed Umreimbursed
Name Account # Balance Disp. Dlq. Advances reg. Advances
<S> <C> <C> <C> <C> <C> <C> <C> <C>
None N/A N/A N/A N/A N/A N/A N/A
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(F) Foreclosure Detail
Property Value LTV
Name Account # Balance Original Most Recent Original Most Recent
<S> <C> <C> <C> <C> <C> <C> <C>
None N/A N/A N/A N/A N/A N/A
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-SEP-96
<TABLE>
<CAPTION> Remittance Report
Interest Principal
<S> <C> <C> <C>
SEC. 4.06 (a) (i) Insured Distribution Amount 1,507,534.58 0.00
Class A-1 Allocation 638,399.96 0.00
Class A-2 Allocation 375,600.00 0.00
Class A-3 Allocation 199,246.67 0.00
Class A-4 Allocation 136,393.75 0.00
Class A-5 Allocation 157,894.20 0.00
SEC. 4.06 (a) (ii) Available Funds Shortfall 0.00
SEC. 4.06 (a) (iii) Current Period Delinquency Advances
150,940.08
Aggregate Delinquency Advances Outstanding 150,940.08
Current Period Nonrecoverable Delinquency Advances 0.00
Interest Principal Total
SEC. 4.06 (a) (iv) & Reimbursement Amount 0.00 0.00 0.00
(v)
SEC. 4.06 (a) (vi) Prepayment Interest Shortfall deposited by 0.00
Servicer
SEC. 4.06 (a) (vii) Overcollateralization Increase Amount from Monthly Excess 794,474.35
Spread
Overcollateralized Amount 1,832,250.37
</TABLE>
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
MARIAN ONISCHAK
HARRIS TRUST AND SAVINGS BANK
311 WEST MONROE - 12 FLOOR
CHICAGO, IL 60690
DISTRIBUTION LIST: ORIGINATOR, CERTIFICATE INSURER, AND SERVICER
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-OCT-96
<TABLE>
<CAPTION> ORIGINAL BEGINNING Ending
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL Certificate
CUSIP CLASS FACE VALUE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION Balance
<S> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 113,650,000.00 108,190,517.22 5,624,975.06 622,095.47 6,247,070.53 102,565,542.16
178779AM6 A-2 62,600,000.00 62,600,000.00 0.00 375,600.00 375,600.00 62,600,000.00
178779AN4 A-3 31,460,000.00 31,460,000.00 0.00 199,246.67 199,246.67 31,460,000.00
178779AP9 A-4 20,850,000.00 20,850,000.00 0.00 136,393.75 136,393.75 20,850,000.00
178779AQ7 A-5 23,391,733.30 23,391,733.30 0.00 157,894.20 157,894.20 23,391,733.30
R 0.00 0.00 0.00 0.00 0.00 0.00
Total 251,951,733.30 246,492,250.52 5,624,975.06 1,491,230.09 7,116,205.15 240,867,275.46
</TABLE>
<TABLE>
<CAPTION> AMOUNTS PER $1,000 UNIT PASS THROUGH RATES
Principal Interest Total Ending Original
Distribution Distribution Distribution Certificate Original Pass Current Pass
CUSIP Class Balance Class Through Rate Through Rate
<S> <C> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 49.49384127 5.47378328 54.96762455 902.46847479 A-1 6.90000% 6.90000%
178779AM6 A-2 0.00000000 6.00000000 6.00000000 1,000.00000000 A-2 7.20000% 7.20000%
178779AN4 A-3 0.00000000 6.33333344 6.33333344 1,000.00000000 A-3 7.60000% 7.60000%
178779AP9 A-4 0.00000000 6.54166667 6.54166667 1,000.00000000 A-4 7.85000% 7.85000%
178779AQ7 A-5 0.00000000 6.75000001 6.75000001 1,000.00000000 A-5 8.10000% 8.10000%
Total 22.32560573 5.91871336 28.24431909 956.00562975
</TABLE>
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
MARIAN ONISCHAK
HARRIS TRUST AND SAVINGS BANK
311 WEST MONROE - 12 FLOOR
CHICAGO, IL 60690
DISTRIBUTION LIST: CERTIFICATE INSURER, ORIGINATOR, PLACEMENT AGENTS,
SERVICER AND EACH CERTIFICATEHOLDER.
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-OCT-96
<TABLE>
<CAPTION>
SEC 4.05(b) O/C
Total Principal Scheduled Increase/
Distribution Principal Prepayments Liquidations (Reduction) Total
<S> <C> <C> <C> <C> <C>
Class A-1 139,008.41 4,693,927.89 0.00 792,038.76 5,624,975.06
Per $1000 Unit 1.22312723 41.30160924 0.00000000 6.96910480 49.49384127
Class A-2 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-3 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-4 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-5 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A Certs 139,008.41 4,693,927.89 0.00 792,038.76 5,624,975.06
Per $1000 Unit 0.55172635 18.63026632 0.00000000 3.14361306 22.32560573
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
SEC. 4.05 (d) Insured Payment 0.00
Class A-1 Allocation 0.00
Class A-2 Allocation 0.00
Class A-3 Allocation 0.00
Class A-4 Allocation 0.00
Class A-5 Allocation 0.00
SEC. 4.05 (f) Overcollateralization Reduction Amount 0.00
SEC. 4.05 (g) Overcollateralization Deficit 0.00
SEC. 4.05 (h) Specified Overcollateralization Deficiency Amount 8,749,722.43
SEC. 4.05 (i) Current Period Realized Losses 0.00
SEC. 4.05 (j) Overcollateralized Amount 2,624,289.13
SEC. 4.05 (k) Class A Carry-Forward Amount 0.00
SEC. 4.05 (l) Substitution Shortfall Amounts 0.00
Loan Purchase Prices 0.00
SEC. 4.05 (m) Ending Weighted Average Mortgage Rate 11.666653%
SEC. 4.05 (n) Weighted Average Remaining Term (months) 190.7
SEC. 4.05 (o) Number of Loans Outstanding (incl. all Sub. Transfers to date) 3683
Count Balance
SEC. 4.05 (p) Cumulative Liquidations 0 0.00
SEC. 4.05 (q) Cumulative Realized Losses 0.00
Cumulative Realized Losses as % of Maximum Collateral Amount 0.000000%
SEC. 4.05 (r) Sum of Three Largest Loan Balances Outstanding 1,461,572.01
SEC. 4.05 (s) Monthly Excess Spread 792,038.76
SEC. 4.05 (t) Outstanding Aggregate Loan Balance (end of Due Period) 243,491,564.59
SEC. 4.05 (v) & (w) Reflected on separate reports, if applicable.
SEC. 4.05 (x) Reimbursement Amount 0.00
</TABLE>
11-OCT-96
CITYSCAPE HOME EQUITY LOAN TRUST 1996-2
MORTGAGE PASS-THROUGH CERTIFICATES
DETAILED SERVICER REMITTANCE INFORMATION
AS OF SEPTEMBER 30, 1996
<TABLE>
<CAPTION>
<S> <C>
Number of Loans Outstanding: 3,683
Total Outstanding Principal Balance: $243,491,564.59
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(A) Delinquency Summary
# Days Delinquent # Loans $ Volumes %
<S> <C> <C> <C> <C>
30-59 88 $11,980,225.55 4.920%
60-89 68 $3,884,533.31 1.595%
90+(including FC) 23 $1,505,632.56 0.618%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(B) Foreclosure Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Foreclosure 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(C) Bankruptcy Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Bankruptcy 9 $432,498.41 0.178%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(D) REO Summary
Status # Loans $ Volumes % Book Value
<S> <C> <C> <C> <C> <C>
REO 0 $0.00 0.000% $0.00
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(E) REO Detail
Property Value
Original Most Recent st. Cost of Unreimbursed Umreimbursed
Name Account # Balance Disp. Dlq. Advances reg. Advances
<S> <C> <C> <C> <C> <C> <C> <C> <C>
None N/A N/A N/A N/A N/A N/A N/A
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(F) Foreclosure Detail
Property Value LTV
Name Account # Balance Original Most Recent Original Most Recent
<S> <C> <C> <C> <C> <C> <C> <C>
None N/A N/A N/A N/A N/A N/A
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-OCT-96
<TABLE>
<CAPTION> Remittance Report
Interest Principal
<S> <C> <C> <C>
SEC. 4.06 (a) (i) Insured Distribution Amount 1,491,230.09 0.00
Class A-1 Allocation 622,095.47 0.00
Class A-2 Allocation 375,600.00 0.00
Class A-3 Allocation 199,246.67 0.00
Class A-4 Allocation 136,393.75 0.00
Class A-5 Allocation 157,894.20 0.00
SEC. 4.06 (a) (ii) Available Funds Shortfall 0.00
SEC. 4.06 (a) (iii) Current Period Delinquency Advances
10,755.77
Aggregate Delinquency Advances Outstanding 10,755.77
Current Period Nonrecoverable Delinquency Advances 0.00
Interest Principal Total
SEC. 4.06 (a) (iv) & Reimbursement Amount 0.00 0.00 0.00
(v)
SEC. 4.06 (a) (vi) Prepayment Interest Shortfall deposited by 0.00
Servicer
SEC. 4.06 (a) (vii) Overcollateralization Increase Amount from Monthly Excess 792,038.76
Spread
Overcollateralized Amount 2,624,289.13
</TABLE>
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
MARIAN ONISCHAK
HARRIS TRUST AND SAVINGS BANK
311 WEST MONROE - 12 FLOOR
CHICAGO, IL 60690
DISTRIBUTION LIST: ORIGINATOR, CERTIFICATE INSURER, AND SERVICER
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-NOV-96
<TABLE>
<CAPTION> ORIGINAL BEGINNING Ending
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL Certificate
CUSIP CLASS FACE VALUE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION Balance
<S> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 113,650,000.00 102,565,542.16 4,539,275.00 589,751.87 5,129,026.87 98,026,267.16
178779AM6 A-2 62,600,000.00 62,600,000.00 0.00 375,600.00 375,600.00 62,600,000.00
178779AN4 A-3 31,460,000.00 31,460,000.00 0.00 199,246.67 199,246.67 31,460,000.00
178779AP9 A-4 20,850,000.00 20,850,000.00 0.00 136,393.75 136,393.75 20,850,000.00
178779AQ7 A-5 23,391,733.30 23,391,733.30 0.00 157,894.20 157,894.20 23,391,733.30
R 0.00 0.00 0.00 0.00 0.00 0.00
Total 251,951,733.30 240,867,275.46 4,539,275.00 1,458,886.49 5,998,161.49 236,328,000.46
</TABLE>
<TABLE>
<CAPTION> AMOUNTS PER $1,000 UNIT PASS THROUGH RATES
Principal Interest Total Ending
Distribution Distribution Distribution Certificate Original Pass Current Pass
CUSIP Class Balance Class Through Rate Through Rate
<S> <C> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 39.94082710 5.18919375 45.13002085 862.52764769 A-1 6.90000% 6.90000%
178779AM6 A-2 0.00000000 6.00000000 6.00000000 1,000.00000000 A-2 7.20000% 7.20000%
178779AN4 A-3 0.00000000 6.33333344 6.33333344 1,000.00000000 A-3 7.60000% 7.60000%
178779AP9 A-4 0.00000000 6.54166667 6.54166667 1,000.00000000 A-4 7.85000% 7.85000%
178779AQ7 A-5 0.00000000 6.75000001 6.75000001 1,000.00000000 A-5 8.10000% 8.10000%
Total 18.01644680 5.79034115 23.80678796 937.98918295
</TABLE>
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
MARIAN ONISCHAK
HARRIS TRUST AND SAVINGS BANK
311 WEST MONROE - 12 FLOOR
CHICAGO, IL 60690
DISTRIBUTION LIST: CERTIFICATE INSURER, ORIGINATOR, PLACEMENT AGENTS,
SERVICER AND EACH CERTIFICATEHOLDER.
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-NOV-96
<TABLE>
<CAPTION>
SEC 4.05(b) O/C
Total Principal Scheduled Increase/
Distribution Principal Prepayments Liquidations (Reduction) Total
<S> <C> <C> <C> <C> <C>
Class A-1 137,903.33 3,626,509.34 0.00 774,862.33 4,539,275.00
Per $1000 Unit 1.21340370 31.90945306 0.00000000 6.81797035 39.94082710
Class A-2 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-3 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-4 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-5 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A Certs 137,903.33 3,626,509.34 0.00 774,862.33 4,539,275.00
Per $1000 Unit 0.54734027 14.39366696 0.00000000 3.07543957 18.01644680
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
SEC. 4.05 (d) Insured Payment 0.00
Class A-1 Allocation 0.00
Class A-2 Allocation 0.00
Class A-3 Allocation 0.00
Class A-4 Allocation 0.00
Class A-5 Allocation 0.00
SEC. 4.05 (f) Overcollateralization Reduction Amount 0.00
SEC. 4.05 (g) Overcollateralization Deficit 0.00
SEC. 4.05 (h) Specified Overcollateralization Deficiency Amount 7,957,683.67
SEC. 4.05 (i) Current Period Realized Losses 0.00
SEC. 4.05 (j) Overcollateralized Amount 3,399,151.46
SEC. 4.05 (k) Class A Carry-Forward Amount 0.00
SEC. 4.05 (l) Substitution Shortfall Amounts 0.00
Loan Purchase Prices 0.00
SEC. 4.05 (m) Ending Weighted Average Mortgage Rate 11.655339%
SEC. 4.05 (n) Weighted Average Remaining Term (months) 189.7
SEC. 4.05 (o) Number of Loans Outstanding (incl. all Sub. Transfers to date) 3624
Count Balance
SEC. 4.05 (p) Cumulative Liquidations 0 0.00
SEC. 4.05 (q) Cumulative Realized Losses 0.00
Cumulative Realized Losses as % of Maximum Collateral Amount 0.000000%
SEC. 4.05 (r) Sum of Three Largest Loan Balances Outstanding 1,461,110.38
SEC. 4.05 (s) Monthly Excess Spread 774,862.33
SEC. 4.05 (t) Outstanding Aggregate Loan Balance (end of Due Period) 239,727,151.92
SEC. 4.05 (v) & (w) Reflected on separate reports, if applicable.
SEC. 4.05 (x) Reimbursement Amount 0.00
</TABLE>
14-NOV-96
CITYSCAPE HOME EQUITY LOAN TRUST 1996-2
MORTGAGE PASS-THROUGH CERTIFICATES
DETAILED SERVICER REMITTANCE INFORMATION
AS OF OCTOBER 31, 1996
<TABLE>
<CAPTION>
<S> <C>
Number of Loans Outstanding: 3,624
Total Outstanding Principal Balance: $239,727,151.92
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(A) Delinquency Summary
# Days Delinquent # Loans $ Volumes %
<S> <C> <C> <C> <C>
30-59 249 $15,187,283.13 6.335%
60-89 73 $4,253,725.06 1.774%
90+(including FC) 62 $3,777,943.72 1.576%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(B) Foreclosure Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Foreclosure 13 $1,293,602.73 0.540%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(C) Bankruptcy Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Bankruptcy 15 $699,877.52 0.292%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(D) REO Summary
Status # Loans $ Volumes % Book Value
<S> <C> <C> <C> <C> <C>
REO 0 $0.00 0.000% $0.00
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(E) REO Detail
Property Value
Original Most Recent st. Cost of Unreimbursed Umreimbursed
Name Account # Balance Disp. Dlq. Advances reg. Advances
<S> <C> <C> <C> <C> <C> <C> <C> <C>
None N/A N/A N/A N/A N/A N/A N/A
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(F) Foreclosure Detail
Property Value LTV
Name Account # Balance Original Most Recent Original Most Recent
<S> <C> <C> <C> <C> <C> <C> <C>
Adams 115611 $77,975.94 $130,000.00 $130,000.00 60.00% 59.98%
Baker 118422 $4,364.27 473,000.00 473,000.00 75.00% 74.47%
Chandler 115524 $108,000.00 $144,000.00 $144,000.00 73.00% 75.00%
Cimil 92549 $31,818.33 $49,000.00 $49,000.00 65.00% 64.94%
Cook 118426 $70,000.00 $85,000.00 $85,000.00 83.00% 82.35%
Freeman 112655 $168,750.00 $225,000.00 $225,000.00 75.00% 75.00%
Jones 110367 $64,773.08 $100,000.00 $100,000.00 65.00% 64.77%
Krikis 112334 $211,348.15 $235,000.00 $235,000.00 90.00% 89.94%
Miglore 107361 $323,766.07 $340,000.00 $340,000.00 60.00% 59.96%
Paolo 103550 $41,826.27 $135,000.00 $135,000.00 90.00% 89.90%
Robinson 120086 $66,372.89 $83,000.00 $83,000.00 80.00% 79.97%
Robinson 114830 $36,000.00 $67,000.00 $67,000.00 54.00% 53.73%
Rogers 97453 $38,607.73 $72,000.00 $72,000.00 50.00% 50.14%
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-2
DISTRIBUTION PERIOD: 25-DEC-96
<TABLE>
<CAPTION> ORIGINAL BEGINNING Ending
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL Certificate
CUSIP CLASS FACE VALUE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION Balance
<S> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 113,650,000.00 98,026,267.16 3,763,102.67 563,651.04 4,326,753.71 94,263,164.49
178779AM6 A-2 62,600,000.00 62,600,000.00 0.00 375,600.00 375,600.00 62,600,000.00
178779AN4 A-3 31,460,000.00 31,460,000.00 0.00 199,246.67 199,246.67 31,460,000.00
178779AP9 A-4 20,850,000.00 20,850,000.00 0.00 136,393.75 136,393.75 20,850,000.00
178779AQ7 A-5 23,391,733.30 23,391,733.30 0.00 157,894.20 157,894.20 23,391,733.30
R 0.00 0.00 0.00 0.00 0.00 0.00
Total 251,951,733.30 236,328,000.46 3,763,102.67 1,432,785.66 5,195,888.33 232,564,897.79
</TABLE>
<TABLE>
<CAPTION> AMOUNTS PER $1,000 UNIT PASS THROUGH RATES
Principal Interest Total Ending
Distribution Distribution Distribution Certificate Original Pass Current Pass
CUSIP Class Balance Class Through Rate Through Rate
<S> <C> <C> <C> <C> <C> <C> <C> <C>
178779AL8 A-1 33.11133014 4.95953401 38.07086414 829.41631755 A-1 6.90000% 6.90000%
178779AM6 A-2 0.00000000 6.00000000 6.00000000 1,000.00000000 A-2 7.20000% 7.20000%
178779AN4 A-3 0.00000000 6.33333344 6.33333344 1,000.00000000 A-3 7.60000% 7.60000%
178779AP9 A-4 0.00000000 6.54166667 6.54166667 1,000.00000000 A-4 7.85000% 7.85000%
178779AQ7 A-5 0.00000000 6.75000001 6.75000001 1,000.00000000 A-5 8.10000% 8.10000%
Total 14.93580783 5.68674659 20.62255442 923.05337512
</TABLE>
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
MARIAN ONISCHAK
HARRIS TRUST AND SAVINGS BANK
311 WEST MONROE - 12 FLOOR
CHICAGO, IL 60690
DISTRIBUTION LIST: CERTIFICATE INSURER, ORIGINATOR, PLACEMENT AGENTS,
SERVICER AND EACH CERTIFICATEHOLDER.
<TABLE>
<CAPTION>
SEC 4.05(b) O/C
Total Principal Scheduled Increase/
Distribution Principal Prepayments Liquidations (Reduction) Total
<S> <C> <C> <C> <C> <C>
Class A-1 138,370.33 2,860,550.13 0.00 764,182.21 3,763,102.67
Per $1000 1.21751280 25.16982077 0.00000000 6.72399657 33.11133014
Unit0
Class A-2 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-3 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-4 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A-5 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class A Certs 138,370.33 2,860,550.13 0.00 764,182.21 3,763,102.67
Per $1000 Unit 0.54919380 11.35356400 0.00000000 3.03305002 14.93580783
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
SEC. 4.05 (d) Insured Payment 0.00
Class A-1 Allocation 0.00
Class A-2 Allocation 0.00
Class A-3 Allocation 0.00
Class A-4 Allocation 0.00
Class A-5 Allocation 0.00
SEC. 4.05 (f) Overcollateralization Reduction Amount 0.00
SEC. 4.05 (g) Overcollateralization Deficit 0.00
SEC. 4.05 (h) Specified Overcollateralization Deficiency Amount 7,182,821.34
SEC. 4.05 (i) Current Period Realized Losses 0.00
SEC. 4.05 (j) Overcollateralized Amount 4,163,333.67
SEC. 4.05 (k) Class A Carry-Forward Amount 0.00
SEC. 4.05 (l) Substitution Shortfall Amounts 0.00
Loan Purchase Prices 0.00
SEC. 4.05 (m) Ending Weighted Average Mortgage Rate 11.651937%
EC. 4.05 (n) Weighted Average Remaining Term (months) 188.7
SEC. 4.05 (o) Number of Loans Outstanding (incl. all Sub. Transfers to date) 3577
Count Balance
SEC. 4.05 (p) Cumulative Liquidations 0 0.00
SEC. 4.05 (q) Cumulative Realized Losses 0.00
Cumulative Realized Losses as % of Maximum Collateral Amount 0.000000%
SEC. 4.05 (r) Sum of Three Largest Loan Balances Outstanding 1,460,644.27
SEC. 4.05 (s) Monthly Excess Spread 764,182.21
SEC. 4.05 (t) Outstanding Aggregate Loan Balance (end of Due Period) 236,728,231.46
SEC. 4.05 (v) & (w) Reflected on separate reports, if applicable.
SEC. 4.05 (x) Reimbursement Amount 0.00
</TABLE>
14-NOV-96
CITYSCAPE HOME EQUITY LOAN TRUST 1996-2
MORTGAGE PASS-THROUGH CERTIFICATES
DETAILED SERVICER REMITTANCE INFORMATION
AS OF NOVEMBER 30, 1996
<TABLE>
<CAPTION>
<S> <C>
Number of Loans Outstanding: 3,577
Total Outstanding Principal Balance: $236,728,231.46
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(A) Delinquency Summary
# Days Delinquent # Loans $ Volumes %
<S> <C> <C> <C> <C>
30-59 139 $10,533,695.43 4.500%
60-89 96 $4,650,416.73 1.964%
90+(including FC) 109 $6,906,362.26 2.518%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(B) Foreclosure Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Foreclosure 13 $1,293,602.73 0.546%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(C) Bankruptcy Summary
Status # Loans $ Volumes %
<S> <C> <C> <C> <C>
Bankruptcy 18 $123,789.25 0._52%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(D) REO Summary
Status # Loans $ Volumes % Book Value
<S> <C> <C> <C> <C> <C>
REO 0 $0.00 0.000% $0.00
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(E) REO Detail
Property Value
Original Most Recent st. Cost of Unreimbursed Umreimbursed
Name Account # Balance Disp. Dlq. Advances reg. Advances
<S> <C> <C> <C> <C> <C> <C> <C> <C>
None N/A N/A N/A N/A N/A N/A N/A
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(F) Foreclosure Detail
Property Value LTV
Name Account # Balance Original Most Recent Original Most Recent
<S> <C> <C> <C> <C> <C> <C> <C>
Adams 115611 $77,975.94 $130,000.00 $130,000.00 60.00% 59.98%
Baker 118422 $4,364.27 473,000.00 473,000.00 75.00% 74.47%
Chandler 115524 $108,000.00 $144,000.00 $144,000.00 73.00% 75.00%
Cimil 92549 $31,818.33 $49,000.00 $49,000.00 65.00% 64.94%
Cook 118426 $70,000.00 $85,000.00 $85,000.00 83.00% 82.35%
Freeman 112655 $168,750.00 $225,000.00 $225,000.00 75.00% 75.00%
Jones 110367 $64,773.08 $100,000.00 $100,000.00 65.00% 64.77%
Krikis 112334 $211,348.15 $235,000.00 $235,000.00 90.00% 89.94%
Miglore 107361 $323,766.07 $340,000.00 $340,000.00 60.00% 59.96%
Paolo 103550 $41,826.27 $135,000.00 $135,000.00 90.00% 89.90%
Robinson 120086 $66,372.89 $83,000.00 $83,000.00 80.00% 79.97%
Robinson 114830 $36,000.00 $67,000.00 $67,000.00 54.00% 53.73%
Rogers 97453 $38,607.73 $72,000.00 $72,000.00 50.00% 50.14%
</TABLE>
<TABLE>
<CAPTION> Remittance Report
Interest Principal
<S> <C> <C> <C>
SEC. 4.06 (a) (i) Insured Distribution Amount 1,432,785.66 0.00
Class A-1 Allocation 563,651.04 0.00
Class A-2 Allocation 375,600.00 0.00
Class A-3 Allocation 199,246.67 0.00
Class A-4 Allocation 136,393.75 0.00
Class A-5 Allocation 157,894.20 0.00
SEC. 4.06 (a) (ii) Available Funds Shortfall 0.00
SEC. 4.06 (a) (iii) Current Period Delinquency Advances
5,625.19
Aggregate Delinquency Advances Outstanding 5,625.19
Current Period Nonrecoverable Delinquency Advances 0.00
Interest Principal Total
SEC. 4.06 (a) (iv) & Reimbursement Amount 0.00 0.00 0.00
(v)
SEC. 4.06 (a) (vi) Prepayment Interest Shortfall deposited by 0.00
Servicer
SEC. 4.06 (a) (vii) Overcollateralization Increase Amount from Monthly Excess 764,182.21
Spread
Overcollateralized Amount 4,163,333.67
</TABLE>
PLEASE DIRECT ANY QUESTIONS OR COMMENTS TO THE FOLLOWING ADMINISTRATOR:
MARIAN ONISCHAK
HARRIS TRUST AND SAVINGS BANK
311 WEST MONROE - 12 FLOOR
CHICAGO, IL 60690
DISTRIBUTION LIST: ORIGINATOR, CERTIFICATE INSURER, AND SERVICER
