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Previous: FINANCIAL ASSET SEC CORP HM EQ LN TR 1996-2 HM EQ LN PS TH &, 8-K, 1997-03-31 |
Next: CHASE MANHATTAN HOME EQUITY LOAN TRUST 1995-1, 10-K, 1997-03-31 |
______________________________________________________________________
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
December 23, 1996, providing for the issuance of
Cityscape Home Equity Loan Trust 1996-3, Home Equity Loan
Pass-Through Certificates, Series 1996-3.
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 1996-3
Trustee distributed statements, which are annexed hereto as Exhibit 1, to the
Series 1996-3 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 1996-3.
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 1996-3 6
EXHIBIT 1
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
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>
178779AR5 A-1A 60,800,000.00 60,800,000.00 463,886.95 90,524.44 554,411.39 60,336,113.05
178779AS3 A-1B 76,000,000.00 76,000,000.00 579,858.69 303,544.34 883,403.03 75,420,141.31
178779AT1 A-2 21,000,000.00 21,000,000.00 0.00 31,033.33 31,033.33 21,000,000.00
178779AU8 A-3 59,000,000.00 59,000,000.00 0.00 89,811.11 89,811.11 59,000,000.00
178779AV6 A-4 50,000,000.00 50,000,000.00 183,113.28 75,555.56 258,668.84 49,816,886.72
178779AW4 A-5 14,000,000.00 14,000,000.00 0.00 21,933.33 21,933.33 14,000,000.00
178779AX2 A-6 52,300,000.00 52,300,000.00 0.00 83,098.89 83,098.89 52,300,000.00
178779AY0 A-7 31,700,000.00 31,700,000.00 0.00 52,833.33 52,833.33 31,700,000.00
178779AZ7 A-8 31,644,000.00 31,644,000.00 0.00 53,794.80 53,794.80 31,644,000.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Total 396,444,000.00 396,444,000.00 1,226,858.92 802,129.13 2,028,988.05 395,217,141.08
</TABLE>
<TABLE>
<CAPTION>
Original Beginning Ending
National National Principal Interest Total National
Class Balance Balance Distribution Distribution Distribution Balance
<S> <C> <C> <C> <C> <C>
178779BA1 A-10 301,886,702.10 301,886,702.10 0.00 67,085.93 67,085.93 300,892,032.51
</TABLE>
<TABLE>
<CAPTION>
Ending
Principal Interest Total Certificate Original Pass Current Pass
CUSIP Class Distribution Distribution Distribution Balance Class Through Rate Through Rate
<S> <C> <C> <C> <C> <C> <C> <C> <C>
178779AR5 A-1A 7.62971957 1.48888882 9.11860839 992.37028043 A-1A 6.70000% 6.70000%
178779AS3 A-1B 7.62971961 3.99400447 11.62372408 992.37028039 A-1B* 5.53016% 5.53016%
178779AT1 A-2 0.00000000 1.47777762 1.47777762 1,000.00000000 A-2 6.65000% 6.65000%
178779AU8 A-3 0.00000000 1.52222220 1.52222220 1,000.00000000 A-3 6.85000% 6.85000%
178779AV6 A-4 3.66226560 5.17337680 5.17337680 996.33773440 A-4 6.80000% 6.80000%
178779AW4 A-5 0.00000000 1.56666643 1.56666643 1,000.00000000 A-5 7.05000% 7.05000%
178779AX2 A-6 0.00000000 1.58888891 1.58888891 1,000.00000000 A-6 7.15000% 7.15000%
178779AY0 A-7 0.00000000 1.66666656 1.66666656 1,000.00000000 A-7 7.50000% 7.50000%
178779AZ7 A-8 0.00000000 1.70000000 1.70000000 1,000.00000000 A-8 7.65000% 7.65000%
A-I0 1.00000% 1.00000%
Total 3.09465882 2.02331005 5.11796887 996.90534118
* Based on LIBOR of: 5.41016%
Inferred
</TABLE>
<TABLE>
<CAPTION>
Ending
Principal Interest Total National
Class Distribution Distribution Distribution Balance
<S> <C> <C> <C> <C> <C>
178779BA1 A-I0 0.00000000 0.22222221 0.22222221 996.70515600
</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, MANAGEMENT AGENTS,
SERVICER AND EACH _________________.
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
DISTRIBUTION PERIOD: 25-SEP-96
<TABLE>
<CAPTION>
SEC 4.05(b)
O/C
Total Principal Scheduled Increase/
Distribution Principal Prepayments Liquidations (Reduction) Total
<C> <C> <C> <C> <C> <C>
Class A-1A 11,409.00 364,684.98 0.00 87,792.97 463,886.95
Per $1000 Unit 0.18764803 5.99810822 0.00000000 1.44396332 7.62971957
Class A-1B 14,261.25 455,856.22 0.00 109,741.22 579,858.69
Per $1000 Unit 0.18764803 5.99810816 0.00000000 1.44396342 7.62971961
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 4,503.55 143,954.60 0.00 34,655.13 183,113.28
Per $1000 Unit 0.09007100 2.87909200 0.00000000 0.69310260 3.66226560
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-6 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-7 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-8 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 30,173.80 964,495.79 0.00 232,189.32 1,226,858.92
Per $1000 Unit 0.07611113 2.43286767 0.00000000 0.58568000 3.09465882
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
SEC 4.05(d) Insured Payment 0.00
Class A-1A Allocation 0.00
Class A-1B 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
Class A-6 Allocation 0.00
Class A-7 Allocation 0.00
Class A-8 Allocation 0.00
Class A-IO 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 Unlimited
SEC 4.05(i) Current Period Realized Losses 0.00
SEC 4.05(j) Overcollateralized Amount 4,454,562.24
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 12.020992%
SEC 4.05(n) Weighted Average Remaining Term (months) 196.0
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
DISTRIBUTION PERIOD: 25-SEP-96
<TABLE>
<CAPTION>
<S> <C> <C> <C>
SEC 4.05(o) Number of Loans Outstanding (incl. all Sub. Transfers to date) 4686
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 1,430,169.16
SEC 4.05(s) Monthly Excess Spread 232,189.33
SEC 4.05(t) Outstanding Aggregate Loan Balance (end of Due Period) 300,892,032.51
SEC 4.05(v), (w) & (y) Reflected on separate reports, if applicable.
SEC 4.05(x) Reimbursement Amount 0.00
SEC 4.05(y) Pre-Funding Account (PFA)
Beginning Balance (excluding Earnings) 98,779,670.81
Less: Subsequent Transfers 0.00
Ending Balance (excluding Earnings) 98,779,670.81
Pre-Funding Account Earnings to Capitalized Account 26,888.42
Capitalized Interest Account
Beginning Balance 1,015,319.91
Plus: Capitalized Account Investment Income 244.98
Plus: Pre-Funding Earning 26,888.42
Less: Capitalized Interest Requirement 203,318.02
Amounts Returned to Seller after Pre-Funding Period 0.00
Ending Balance 839,135.29
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
DISTRIBUTION PERIOD: 25-SEP-96
REMITTANCE REPORT
<TABLE>
<CAPTION>
Interest Principal
-------- ---------
<S> <C> <C> <C>
SEC 4.05(a)(i) Insured Distribution Amount 869,215.06 0.00
Class A-1A Allocation 90,524.44 0.00
Class A-1B Allocation 303,544.34 0.00
Class A-2 Allocation 31,033.33 0.00
Class A-3 Allocation 89,811.11 0.00
Class A-4 Allocation 75,555.56 0.00
Class A-5 Allocation 21,933.33 0.00
Class A-6 Allocation 83,098.89 0.00
Class A-7 Allocation 52,833.33 0.00
Class A-8 Allocation 53,794.80 0.00
Class A-IO Allocation 67,085.93 0.00
SEC 4.06(a)(ii) Available Funds Shortfall 0.00
SEC 4.06(a)(iii) Current Period Delinquency Advances 174,115.89
Aggregate Delinquency Advances Outstanding 174,115.89
Current Period Nonrecoverable Delinquency Advances 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Principal Total
--------- ---------- -----
<S> <C> <C> <C> <C>
SEC 4.06(a)(iv) & (v) Reimbursement Amount 0.00 0.00 0.00
SEC 4.06(a)(vi) Prepayment Interest Shortfall deposited by Servicer 0.00
SEC 4.06(a)(vii) Overcollateralization Increase Amount from Monthly Excess Spread 32,189.32
Overcollateralized Amount 4,454,562.24
</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 1996-3
DISTRIBUTION PERIOD: 25-SEP-96
_______ HOME EQUITY LOAN TRUST _______ - 3
_______ ______ - THROUGH CERTIFICATES
_______ SERVICER REMITTANCE INFORMATION
AUGUST 31, 1996
Number of Loans Oustanding: 4,686
Total Outstanding Principal Balance: $300,892,032.51
---------------
<TABLE>
<CAPTION>
Section 4.05(A) Delinquency Summary
- ---------------
# Days Delinquent # Loans $ Volumes %
<S> <C> <C> <C>
30-59 133 $8,287,574.6_ 2.754%
60-89 6 $826,512.04 0.275%
90+(including FC) 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(B) Foreclosure Summary
- ---------------
Status # Loans $ Volumes %
<C> <C> <C> <C>
Foreclosure 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(C) Bankruptcy Summary
- ---------------
Status # Loans $ Volumes %
<C> <C> <C> <C>
Bankruptcy 0 $0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(D) REO Summary
- ---------------
Status # Loans $ Volumes % Book Value
<C> <C> <C> <C> <C>
REO 0 $0.00 0.000% $90.00
</TABLE>
<TABLE>
<CAPTION>
Section 4.05(E) REO Detail
Property Value Unreimbursed Umreimbursed
Original Most Recent
Name Account # Balance __ Cost of Disp. ____. Advances reg. Advances
<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
Original Most Recent Original Most Recent
Name Account # Balance
<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 1996-3
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>
178779AR5 A-1A 60,800,000.00 60,800,000.00 1,586,745.41 336,876.63 1,923,622.04 58,749,367.64
178779AS3 A-1B 76,000,000.00 76,000,000.00 1,983,431.76 353,217.66 2,336,649.42 73,436,709.55
178779AT1 A-2 21,000,000.00 21,000,000.00 0.00 116,375.00 116,375.00 21,000,000.00
178779AU8 A-3 59,000,000.00 59,000,000.00 0.00 336,791.67 336,791.67 59,000,000.00
178779AV6 A-4 50,000,000.00 49,816,886.72 626,346.87 282,295.69 908,542.56 49,190,539.85
178779AW4 A-5 14,000,000.00 14,000,000.00 0.00 82,250.00 82,250.00 14,000,000.00
178779AX2 A-6 52,300,000.00 52,300,000.00 0.00 311,620.83 311,620.83 52,300,000.00
178779AY0 A-7 31,700,000.00 31,700,000.00 0.00 198,125.00 198,125.00 31,700,000.00
178779AZ7 A-8 31,644,000.00 31,644,000.00 0.00 201,730.50 201,730.50 31,644,000.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Total 396,444,000.00 395,217,141.08 4,196,524.04 2,219,282.98 6,415,807.02 391,020,617.04
</TABLE>
<TABLE>
<CAPTION>
Original Beginning Ending
National National Principal Interest Total National
Class Balance Balance Distribution Distribution Distribution Balance
<S> <C> <C> <C> <C> <C> <C> <C>
178779BA1 A-I0 301,886,702.10 300,892,032.51 0.00 250,743.36 250,743.36 297,640,199.40
</TABLE>
<TABLE>
<CAPTION>
Ending
Principal Interest Total Certificate Original Pass Current Pass
CUSIP Class Distribution Distribution Distribution Balance Class Through Rate Through Rate
<S> <C> <C> <C> <C> <C> <C> <C> <C>
178779AR5 A-1A 26.09778635 5.54073405 31.63852039 966.27249408 A-1A 6.70000% 6.70000%
178779AS3 A-1B 26.09778632 4.64760079 30.74538711 966.27249408 A-1B* 5.53016% 5.62000%
178779AT1 A-2 0.00000000 5.54166667 5.54166667 966.27249408 A-2 6.65000% 6.65000%
178779AU8 A-3 0.00000000 5.70833339 5.70833339 1,000.00000000 A-3 6.85000% 6.85000%
178779AV6 A-4 12.52693740 5.64591380 18.17285120 1,000.00000000 A-4 6.80000% 6.80000%
178779AW4 A-5 0.00000000 5.87500000 5.87500000 983.81079700 A-5 7.05000% 7.05000%
178779AX2 A-6 0.00000000 5.95833327 5.95833327 1,000.00000000 A-6 7.15000% 7.15000%
178779AY0 A-7 0.00000000 6.25000000 6.25000000 1,000.00000000 A-7 7.50000% 7.50000%
178779AZ7 A-8 0.00000000 6.37500000 6.37500000 1,000.00000000 A-8 7.65000% 7.65000%
A-I0 1.00000% 1.00000%
Total 10.58541443 5.59797343 16.18338787 986.31992675
* Based on LIBOR of: 5.50000%
Inferred
</TABLE>
<TABLE>
<CAPTION>
Ending
Principal Interest Total National
Class Distribution Distribution Distribution Balance
<S> <C> <C> <C> <C> <C>
178779BA1 A-I0 0.00000000 0.83058763 0.830587630 985.93345560
</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, MANAGEMENT AGENTS,
SERVICER AND EACH _________________.
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
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> <C>
Class A-1A 59,474.63 1,170,074.21 0.00 357,196.57 1,586,745.41
Per $1000 Unit 0.97820115 19.24464161 0.00000000 5.87494359 26.09778635
Class A-1B 74,343.29 1,462,592.76 0.00 446,495.71 1,983,431.76
Per $1000 Unit 0.97820118 5.99810816 0.00000000 5.87494355 26.09778632
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 23,476.83 461,871.40 0.00 140,998.64 626,346.87
Per $1000 Unit 0.46953660 9.23742800 0.00000000 2.81997280 12.52693740
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-6 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-7 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-8 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 157,294.75 3,094,538.36 0.00 944,690.92 4,196,524.04
Per $1000 Unit 0.39676411 7.80573892 0.00000000 2.38291138 10.58541443
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
SEC 4.05(d) Insured Payment 0.00
Class A-1A Allocation 0.00
Class A-1B 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
Class A-6 Allocation 0.00
Class A-7 Allocation 0.00
Class A-8 Allocation 0.00
Class A-IO 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 Unlimited
SEC 4.05(i) Current Period Realized Losses 0.00
SEC 4.05(j) Overcollateralized Amount 5,399,253.17
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 12.011299%
SEC 4.05(n) Weighted Average Remaining Term (months) 195.0
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
DISTRIBUTION PERIOD: 25-OCT-96
<TABLE>
<CAPTION>
<S> <C> <C> <C>
SEC 4.05(o) Number of Loans Outstanding (incl. all Sub. Transfers to date) 4686
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 1,429,723.79
SEC 4.05(s) Monthly Excess Spread 944,690.93
SEC 4.05(t) Outstanding Aggregate Loan Balance (end of Due Period) 297,640,199.40
SEC 4.05(v), (w) & (y) Reflected on separate reports, if applicable.
SEC 4.05(x) Reimbursement Amount 0.00
SEC 4.05(y) Pre-Funding Account (PFA)
Beginning Balance (excluding Earnings) 98,779,670.81
Less: Subsequent Transfers 0.00
Ending Balance (excluding Earnings) 98,779,670.81
Pre-Funding Account Earnings to Capitalized Account 406,598.53
Capitalized Interest Account
Beginning Balance 839,135.29
Plus: Capitalized Account Investment Income 4,000.55
Plus: Pre-Funding Earning 406,598.53
Less: Capitalized Interest Requirement 563,737.33
Amounts Returned to Seller after Pre-Funding Period 0.00
Ending Balance 685,997.04
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
DISTRIBUTION PERIOD: 25-OCT-96
CITYSCOPE HOME EQUITY LOAN TRUST _______ - 3
_______ ______ - THROUGH CERTIFICATES
DETAILED SERVICER REMITTANCE INFORMATION
AS OF SEPTEMBER 30, 1996
Number of Loans Oustanding: 4,686
Total Outstanding Principal Balance: $297,640,199.40
Section 4.05(A) Delinquency Summary
# Days Delinquent # Loans $ Volumes %
30-59 91 $10,798,327.14 3.628%
60-89 56 $3,837,534.54 1.289%
90+(including FC) 4 $589,311.75 0.198%
Section 4.05(B) Foreclosure Summary
Status # Loans $ Volumes %
Foreclosure 0 $0.00 0.000%
Section 4.05(C) Bankruptcy Summary
Status # Loans $ Volumes %
Bankruptcy 2 $114,681.34 0.039%
<TABLE>
<CAPTION>
Section 4.05(D) REO Summary
Status # Loans $ Volumes % Book Value
<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 Unreimbursed
Name Account # Balance Original Most Recent __ Cost of Disp. ____. Advances reg. Advances
<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
Original Most Recent Original Most Recent
Name Account # Balance
<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 1996-3
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>
178779AR5 A-1A 60,800,000.00 60,800,000.00 1,396,036.45 328,017.30 1,724,053.75 57,353,331.19
178779AS3 A-1B 76,000,000.00 76,000,000.00 1,745,045.57 347,488.23 2,092,533.80 71,691,663.98
178779AT1 A-2 21,000,000.00 21,000,000.00 0.00 116,375.00 116,375.00 21,000,000.00
178779AU8 A-3 59,000,000.00 59,000,000.00 0.00 336,791.67 336,791.67 59,000,000.00
178779AV6 A-4 50,000,000.00 49,190,539.85 551,067.02 278,746.39 829,813.41 48,639,472.83
178779AW4 A-5 14,000,000.00 14,000,000.00 0.00 82,250.00 82,250.00 14,000,000.00
178779AX2 A-6 52,300,000.00 52,300,000.00 0.00 311,620.83 311,620.83 52,300,000.00
178779AY0 A-7 31,700,000.00 31,700,000.00 0.00 198,125.00 198,125.00 31,700,000.00
178779AZ7 A-8 31,644,000.00 31,644,000.00 0.00 201,730.50 201,730.50 31,644,000.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Total 396,444,000.00 391,020,617.04 3,692,149.04 2,201,144.92 5,893,293.96 387,328,468.00
</TABLE>
<TABLE>
<CAPTION>
Original Beginning Ending
National National Principal Interest Total National
Class Balance Balance Distribution Distribution Distribution Balance
<S> <C> <C> <C> <C> <C> <C> <C>
178779BA1 A-10 301,886,702.10 297,640,199.40 0.00 248,033.50 248,033.50 393,661,394.83
</TABLE>
<TABLE>
<CAPTION>
Ending
Principal Interest Total Certificate Original Pass Current Pass
CUSIP Class Distribution Distribution Distribution Balance Class Through Rate Through Rate
<S> <C> <C> <C> <C> <C> <C> <C> <C>
178779AR5 A-1A 22.96112582 5.39502138 28.35614720 943.31136826 A-1A 6.70000% 6.70000%
178779AS3 A-1B 22.96112592 4.57221355 27.53333947 943.31136816 A-1B* 5.53016% 5.49500%
178779AT1 A-2 0.00000000 5.54166667 5.54166667 1,000.00000000 A-2 6.65000% 6.65000%
178779AU8 A-3 0.00000000 5.70833339 5.70833339 1,000.00000000 A-3 6.85000% 6.85000%
178779AV6 A-4 11.02134040 5.57492780 16.59626820 972.78945660 A-4 6.80000% 6.80000%
178779AW4 A-5 0.00000000 5.87500000 5.87500000 1,000.00000000 A-5 7.05000% 7.05000%
178779AX2 A-6 0.00000000 5.95833327 5.95833327 1,000.00000000 A-6 7.15000% 7.15000%
178779AY0 A-7 0.00000000 6.25000000 6.25000000 1,000.00000000 A-7 7.50000% 7.50000%
178779AZ7 A-8 0.00000000 6.37500000 6.37500000 1,000.00000000 A-8 7.65000% 7.65000%
A-I0 1.00000% 1.00000%
Total 9.31316665 5.55222155 14.86538820 977.00676010
* Based on LIBOR of: 5.37500%
Inferred
</TABLE>
<TABLE>
<CAPTION>
Ending
Principal Interest Total National
Class Distribution Distribution Distribution Balance
<S> <C> <C> <C> <C> <C>
178779BA1 A-I0 0.00000000 0.82161121 0.82161121 1,304.00376065
</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, MANAGEMENT AGENTS,
SERVICER AND EACH _________________.
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
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> <C>
Class A-1A 71,698.30 971,307.32 0.00 353,030.83 463,886.95
Per $1000 Unit 1.17924836 15.97544934 0.00000000 5.80642813 7.62971957
Class A-1B 89,622.87 1,214,134.15 0.00 441,288.55 579,858.69
Per $1000 Unit 1.17924829 15.97544934 0.00000000 5.80642829 7.62971961
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 28,301.96 383,410.78 0.00 139,354.28 183,113.28
Per $1000 Unit 0.56603920 7.66821560 0.00000000 2.78708560 3.66226560
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-6 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-7 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-8 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 189,623.13 2,568,852.25 0.00 933,673.66 3,692,149.04
Per $1000 Unit 0.4783100 6.47973547 0.00000000 2.35512118 9.31316665
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
SEC 4.05(d) Insured Payment 0.00
Class A-1A Allocation 0.00
Class A-1B 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
Class A-6 Allocation 0.00
Class A-7 Allocation 0.00
Class A-8 Allocation 0.00
Class A-IO 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 Unlimited
SEC 4.05(i) Current Period Realized Losses 0.00
SEC 4.05(j) Overcollateralized Amount 6,332,926.83
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 11.999905%
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
DISTRIBUTION PERIOD: 25-NOV-96
<TABLE>
<CAPTION>
<S> <C> <C> <C>
SEC 4.05(n) Weighted Average Remaining Term (months) 199.3
SEC 4.05(o) Number of Loans Outstanding (incl. all Sub. Transfers to date) 6114
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 1,429,128.96
SEC 4.05(s) Monthly Excess Spread 933,673.66
SEC 4.05(t) Outstanding Aggregate Loan Balance (end of Due Period) 393,661,394.83
SEC 4.05(v), (w) & (y) Reflected on separate reports, if applicable.
SEC 4.05(x) Reimbursement Amount 0.00
SEC 4.05(y) Pre-Funding Account (PFA)
Beginning Balance (excluding Earnings) 98,779,670.81
Less: Subsequent Transfers 98,769,533.88
Ending Balance (excluding Earnings) 10,136.93
Pre-Funding Account Earnings to Capitalized Account 392,852.54
Capitalized Interest Account
Beginning Balance 685,997.04
Plus: Capitalized Account Investment Income 3,424.37
Plus: Pre-Funding Earning 392,852.54
Less: Capitalized Interest Requirement 524,505.54
Amounts Returned to Seller after Pre-Funding Period 557,768.41
Ending Balance 0.00
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
DISTRIBUTION PERIOD: 25-NOV-96
REMITTANCE REPORT
<TABLE>
<CAPTION>
Interest Principal
-------- ---------
<S> <C> <C> <C>
SEC 4.06(a)(i) Insured Distribution Amount 2,449,178.42 0.00
Class A-1A Allocation 328,017.30 0.00
Class A-1B Allocation 347,488.23 0.00
Class A-2 Allocation 116,375.00 0.00
Class A-3 Allocation 336,791.67 0.00
Class A-4 Allocation 278,746.39 0.00
Class A-5 Allocation 82,250.00 0.00
Class A-6 Allocation 311,620.83 0.00
Class A-7 Allocation 198,125.00 0.00
Class A-8 Allocation 201,730.50 0.00
Class A-IO Allocation 248,033.50 0.00
SEC 4.06(a)(ii) Available Funds Shortfall 0.00
SEC 4.06(a)(iii) Current Period Delinquency Advances 174,115.89
Aggregate Delinquency Advances Outstanding 174,115.89
Current Period Nonrecoverable Delinquency Advances 0.00
Interest Principal Total
SEC 4.06(a)(iv) & (v) Reimbursement Amount 0.00 0.00 0.00
SEC 4.06(a)(vi) Prepayment Interest Shortfall deposited by Servicer 0.00
SEC 4.06(a)(vii) Overcollateralization Increase Amount from Monthly Excess Spread 933,673.66
Overcollateralized Amount 6,332,926.83
</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 1996-3
DISTRIBUTION PERIOD: 25-NOV-96
_______ HOME EQUITY LOAN TRUST _______ - 3
_______ ______ - THROUGH CERTIFICATES
_______ SERVICER REMITTANCE INFORMATION
OCTOBER 31, 1996
Number of Loans Oustanding: 6,114
Total Outstanding Principal Balance: $393,661,394.83
Section 4.05(A) Delinquency Summary
- ---------------
# Days Delinquent # Loans $ Volumes %
30-59 236 $12,598,950.00 3.200%
60-89 68 $4,781,707.37 1.215%
90+(including FC) 39 $2,962,483.05 0.753%
Section 4.05(B) Foreclosure Summary
- ---------------
Status # Loans $ Volumes %
Foreclosure 15 $1,210,723.33 0.308%
Section 4.05(C) Bankruptcy Summary
- ---------------
Status # Loans $ Volumes %
Bankruptcy 7 $633,034.47 0.151%
Section 4.05(D) REO Summary
- ---------------
Status # Loans $ Volumes % Book Value
REO 0 $0.00 0.000% $0.00
<TABLE>
<CAPTION>
Section 4.05(E) REO Detail
Property Value Unreimbursed Umreimbursed
Original Most Recent
Name Account # Balance __ Cost of Disp. ____. Advances reg. Advances
<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
Original Most Recent Original Most Recent
Name Account # Balance
<C> <C> <C> <C> <C> <C> <C>
Alsdorf 124286 $42,250.00 $65,000.00 $65,000.00 65.00% 65.00%
Benford 106255 $92,601.41 $103,000.00 $103,000.00 90.00% 89.90%
Buchanan 117468 $116,849.85 $130,000.00 $130,000.00 90.00% 89.88%
Lane 112667 $29,035.66 $41,500.00 $41,500.00 70.00% 69.97%
Lane 112664 $28,562.36 $41,400.00 $41,400.00 70.00% 68.99%
____________ 93216 $211,796.19 $238,000.00 $238,000.00 90.00% 88.99%
Selby 105247 $193,202.72 $215,000.00 $215,000.00 90.00% 89.86%
Seymour 121136 $71,487.70 $110,000.00 $110,000.00 65.00% 64.99%
Seymour 121134 $58,489.93 $90,000.00 $90,000.00 65.00% 64.99%
Seymour 121077 $68,238.26 $105,000.00 $105,000.00 65.00% 64.99%
Seymour 121027 $81,236.03 $125,000.00 $125,000.00 65.00% 64.99%
Seymour 121025 $68,238.26 $105,000.00 $105,000.00 65.00% 64.99%
__________ 88036 $42,187.17 $46,000.00 $46,000.00 94.00% 91.71%
__________ 124948 $34,650.00 $45,000.00 $45,000.00 77.00% 77.00%
Taylor 109483 $71,897.79 $120,000.00 $120,000.00 60.00% 59.91%
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
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>
178779AR5 A-1A 60,800,000.00 57,353,331.19 1,770,374.29 320,222.77 2,090,597.06 55,582,956.90
178779AS3 A-1B 76,000,000.00 71,691,663.98 2,212,967.86 339,231.01 2,552,198.87 69,478,696.12
178779AT1 A-2 21,000,000.00 21,000,000.00 0.00 116,375.00 116,375.00 21,000,000.00
178779AU8 A-3 59,000,000.00 59,000,000.00 0.00 336,791.67 336,791.67 59,000,000.00
178779AV6 A-4 50,000,000.00 48,639,472.83 698,831.95 974,455.63 974,455.63 47,940,640.88
178779AW4 A-5 14,000,000.00 14,000,000.00 0.00 82,250.00 82,250.00 14,000,000.00
178779AX2 A-6 52,300,000.00 52,300,000.00 0.00 311,620.83 311,620.83 52,300,000.00
178779AY0 A-7 31,700,000.00 31,700,000.00 0.00 198,125.00 198,125.00 31,700,000.00
178779AZ7 A-8 31,644,000.00 31,644,000.00 0.00 201,730.50 201,730.50 31,644,000.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Total 396,444,000.00 387,328,468.00 4,682,174.10 2,181,970.46 6,864,144.56 382,646,293.90
</TABLE>
<TABLE>
<CAPTION>
Original Beginning Ending
National National Principal Interest Total National
Class Balance Balance Distribution Distribution Distribution Balance
<S> <C>
178779BA1 A-I0 301,886,702.10 393,661,394.83 0.00 328,051.16 328,051.16 390,204,095.21
</TABLE>
<TABLE>
<CAPTION>
Ending
Principal Interest Total Certificate Original Pass Current Pass
CUSIP Class Distribution Distribution Distribution Balance Class Through Rate Through Rate
<S> <C> <C> <C> <C> <C> <C> <C> <C>
178779AR5 A-1A 29.11799819 5.26682188 34.38482007 914.19337007 A-1A 6.70000% 6.70000%
178779AS3 A-1B 29.11799816 4.46356592 33.58156408 914.19337000 A-1B* 5.53016% 5.49500%
178779AT1 A-2 0.00000000 5.54166667 5.54166667 966.27249408 A-2 6.65000% 6.65000%
178779AU8 A-3 0.00000000 5.70833339 5.70833339 1,000.00000000 A-3 6.85000% 6.85000%
178779AV6 A-4 13.97663900 5.51247360 19.48911260 1,000.00000000 A-4 6.80000% 6.80000%
178779AW4 A-5 0.00000000 5.87500000 5.87500000 958.81281760 A-5 7.05000% 7.05000%
178779AX2 A-6 0.00000000 5.95833327 5.95833327 1,000.00000000 A-6 7.15000% 7.15000%
178779AY0 A-7 0.00000000 6.25000000 6.25000000 1,000.00000000 A-7 7.50000% 7.50000%
178779AZ7 A-8 0.00000000 6.37500000 6.37500000 1,000.00000000 A-8 7.65000% 7.65000%
A-I0 1.00000% 1.00000%
Total 11.81042997 5.50385542 17.31428540 965.19633012
* Based on LIBOR of: 5.37500%
Inferred
</TABLE>
<TABLE>
<CAPTION>
Ending
Principal Interest Total National
Class Distribution Distribution Distribution Balance
<S> <C> <C> <C> <C> <C>
178779BA1 A-I0 0.00000000 1.08666979 1.08666979 1.29255145224
</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, MANAGEMENT AGENTS,
SERVICER AND EACH _________________.
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
DISTRIBUTION PERIOD: 25-DEC-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> <C>
Class A-1A 81,295.43 463,136.63 0.00 463,136.63 1,586,745.41
Per $1000 Unit 1.33709592 7.61737878 0.00000000 7.61737878 26.09778635
Class A-1B 101,619.29 578,920.78 0.00 446,495.71 1,983,431.76
Per $1000 Unit 1.33709592 7.61737868 0.00000000 5.87494355 26.09778632
Class A-2 0.00 0.00 0.00 0.00 0.00
Per $1000 Unit 0.00000000 0.00000000 0.00000000 0.0000000 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 32,090.30 461,871.40 0.00 140,998.64 626,346.87
Per $1000 Unit 0.64180600 9.23742800 0.00000000 2.81997280 12.52693740
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-6 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-7 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-8 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 215,005.03 3,242,294.59 0.00 __________ 4,682,174.10
Per $1000 Unit 0.54233392 8.17844283 0.00000000 3.08965324 11.81042997
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
SEC 4.05(d) Insured Payment 0.00
Class A-1A Allocation 0.00
Class A-1B 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
Class A-6 Allocation 0.00
Class A-7 Allocation 0.00
Class A-8 Allocation 0.00
Class A-IO 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 Unlimited
SEC 4.05(i) Current Period Realized Losses 0.00
SEC 4.05(j) Overcollateralized Amount 7,557,801.31
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 11.996122%
SEC 4.05(n) Weighted Average Remaining Term (months) 199.4
SEC 4.05(o) Number of Loans Outstanding (incl. all Sub. Transfers to date) 6067
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 1,399,070.88
SEC 4.05(s) Monthly Excess Spread 1,224,874.48
SEC 4.05(t) Outstanding Aggregate Loan Balance (end of Due Period) 390,204,095.21
SEC 4.05(v), (w) & (y) Reflected on separate reports, if applicable.
SEC 4.05(x) Reimbursement Amount 0.00
SEC 4.05(y) Pre-Funding Account (PFA)
Beginning Balance (excluding Earnings) 0.00
Less: Subsequent Transfers 0.00
Ending Balance (excluding Earnings) 0.00
Pre-Funding Account Earnings to Capitalized Account 1,164.46
Capitalized Interest Account
Beginning Balance 0.00
Plus: Capitalized Account Investment Income 2,271.10
Plus: Pre-Funding Earning 1,164.46
Less: Capitalized Interest Requirement 0.00
Amounts Returned to Seller after Pre-Funding Period 3,435.56
Ending Balance 0.00
</TABLE>
CITYSCAPE
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-3
DISTRIBUTION PERIOD: 25-DEC-96
14-NOV-96
CITYSCAPE HOME EQUITY LOAN TRUST 1996-3
MORTGAGE PASS-THROUGH CERTIFICATES
DETAILED SERVICER REMITTANCE INFORMATION
AS OF NOVEMBER 30, 1996
Number of Loans Oustanding: 6,067
Total Outstanding Principal Balance: $399,295,895.21
Section 4.05(A) Delinquency Summary
# Days Delinquent # Loans $ Volumes %
30-59 267 $15,034,950.62 3.853%
60-89 80 $4,860,892.40 1.066%
90+(including FC) 91 $5,806,732.29 1.488%
Section 4.05(B) Foreclosure Summary
Status # Loans $ Volumes %
Foreclosure 9 $651,236.96 0.167%
Section 4.05(C) Bankruptcy Summary
Status # Loans $ Volumes %
Bankruptcy 13 $1,157,874.74 0.297%
Section 4.05(D) REO Summary
Status # Loans $ Volumes % Book Value
REO 0 $0.00 0.000% $0.00
<TABLE>
<CAPTION>
Section 4.05(E) REO Detail
Property Value Unreimbursed Umreimbursed
Original Most Recent
Name Account # Balance st. Cost of Disp. Dlq. Advances reg. Advances
<S> <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
Original Most Recent Original Most Recent
Name Account # Balance
<S> <C> <C> <C> <C> <C> <C>
Alsdorf 124286 $42,250.00 $65,000.00 $65,000.00 65.00% 65.00%
Benford 106255 $92,601.41 $103,000.00 $103,000.00 90.00% 89.90%
Bachmann 137468 $216,849.85 $130,000.00 $130,000.00 90.00% 89.88%
Lane 132667 $29,035.66 $41,500.00 $41,500.00 70.00% 69.97%
Lane 132664 $28,562.36 $41,400.00 $41,400.00 70.00% 68.99%
Selby 105247 $593,202.72 $215,000.00 $215,000.00 90.00% 89.86%
Skira 880367 $42,187.17 $46,000.00 $46,000.00 94.00% 93.71%
Smalls 124948 $34,650.00 $45,000.00 $45,000.00 77.00% 72.00%
Taylor 109483 $71,897.79 $120,000.00 $120,000.00 60.00% 59.91%
</TABLE>
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