Registration No. 33-92100
Rule 424(b)(3)
PROSPECTUS SUPPLEMENT TO PROSPECTUS DATED AUGUST 11, 1995
MLCC Mortgage Investors, Inc., Seller
Subordinate Mortgage Backed Certificates,
Series 1995-S1, Class A-1 and A-2
MERRILL LYNCH CREDIT CORPORATION
Certificate Administrator
-----------------------------------------------------------------
On August 15, 1995, Subordinate Mortgage Backed Certificates, Series
1995-S1, Class A-1 and A-2 (the "Class A Certificates") were issued in an
approximate original aggregate principal amount of $50,117,687. The Class A
Certificates represented beneficial interests of approximately 59.41% in the
Trust Fund comprised of certain subordinate mortgage pass-through certificates
issued pursuant to separate pooling and servicing agreements among Merrill
Lynch Home Equity Acceptance, Inc., Merrill Lynch Mortgage Investors, Inc. or
MLCC Mortgage Investors, Inc., as seller, Merrill Lynch Credit Corporation, as
servicer, and Bankers Trust Company of California, N.A., as trustee. This
Prospectus Supplement to the above-referenced Prospectus supplements and
updates certain of the information set forth in the Prospectus. Capitalized
terms not defined herein have the meanings ascribed to them in the Prospectus.
The first two tables set forth after the first paragraph under the heading
"MLCC and its Mortgage Programs--Delinquency and Loan Loss Experience" on pages
74 and 75 of the Prospectus are hereby updated, in their entirety, as follows:
<PAGE>
<TABLE>
<CAPTION>
PRIMEFIRST(R) LOAN DELINQUENCY EXPERIENCE
(Dollars in Thousands)
December 31, 1998 December 31, 1997 December 31, 1996
------------------------- ------------------------- -------------------------
Number of Number of Number of
PrimeFirst Principal PrimeFirst Principal PrimeFirst Principal
Loans Amount Loans Amount Loans Amount
----------- --------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C>
PrimeFirst Loans
Outstanding................... 11,263 $4,408,862 14,159 $5,302,950 11,054 $4,331,131
Delinquency Period
30-59 Days.................... 184 $ 77,751 183 $ 66,254 180 $ 84,297
60-89 Days.................... 26 9,815 26 18,544 19 6,583
90 Days or More*.............. 34 23,664 24 18,072 29 27,590
------ --------- ------ ---------- ----- ----------
Total Delinquency.......... 244 111,230 233 $ 102,870 228 $ 118,470
====== ========= ====== ========== ===== ==========
Delinquencies as Percent
of Number of PrimeFirst
Loans and Principal Amount
Outstanding................... 2.17% 2.52% 1.65% 1.94% 2.06% 2.74%
Foreclosures.................... 47 $ 43,681 39 $ 47,396 29 $ 39,100
Foreclosures as Percent
of Number of PrimeFirst
Loans and Principal Amount
Outstanding................... 0.42% 0.99% 0.28% 0.89% 0.26% 0.90%
- ---------------
* Does not include loans subject to bankruptcy proceedings.
</TABLE>
<TABLE>
<CAPTION>
PRIMEFIRST(R) LOAN LOSS EXPERIENCE
(Dollars in Thousands)
Year Ended Year Ended Year Ended
December 31, 1998 December 31, 1997 December 31, 1996
----------------- ----------------- -----------------
<S> <C> <C> <C>
Average Principal Balance of PrimeFirst Loan
Portfolio....................................... $4,855,906 $4,817,041 $3,933,946
Average Number of PrimeFirst Loans Outstanding
During the Period............................... 12,711 12,607 9,663
Gross Charge-offs................................. $ 4,030 $ 5,363 $ 6,157
Recoveries........................................ $ 2 99 $ 0
---------- ---------- ----------
Net Charge-offs................................... $ 4,028 $ 5,264 $ 6,157
========== ========== ==========
Net Charge-offs as a Percent of Average
Principal Balance Outstanding................... 0.08% 0.11% 0.16%
</TABLE>
The first two tables set forth after the first paragraph under the heading
"MLCC and its Mortgage Programs--Delinquency and Loan Loss Experience" on page
78 of the Prospectus are hereby updated, in their entirety, as follows:
<PAGE>
<TABLE>
<CAPTION>
Revolving Credit Line Loan Delinquency Experience
(Dollars in Thousands)
As of December 31,
----------------------------------------------------------------------------------
1993 1994 1995 1996 1997 1998
------------ ----------- ----------- ----------- ------------ -------------
<S> <C> <C> <C> <C> <C> <C>
Number of revolving credit
line loans serviced........ 13,839 15,598 25,056 28,368 31,395 30,571
Aggregate loan balance of 1,079,693 1,353,800
revolving credit line
loans serviced............. $1,037,427 $ $1,293,483 $ $1,387,217 $1,191,938
Loan balance of revolving
credit line loans 2 months
delinquent................. $ 5,161 $ 5,358 $ 8,447 $ 8,292 $ 5,450 $ 6,634
Loan balance of revolving
credit line loans 3 months
or more delinquent......... $ 17,508 $ 22,989 $ 33,763 $ 39,508 $ 44,104 $ 31,348
Total of 2 months or more
delinquent as a percentage
of aggregate loan balance
of revolving credit
line loans ................ 2.19% 2.63% 3.26% 3.53% 3.57% 3.19%
</TABLE>
<TABLE>
<CAPTION>
Revolving Credit Line Loan Loss Experience
(Dollars in Thousands)
As of December 31,
----------------------------------------------------------------------------------
1993 1994 1995 1996 1997 1998
------------ ----------- ----------- ----------- ------------ -------------
<S> <C> <C> <C> <C> <C> <C>
Number of revolving credit 13,839 15,598 25,056 28,368 31,395 30,571
line loans serviced........
Aggregate loan balance of $1,037,427 $1,079,693 $1,293,483 $1,353,800 $1,387,217 1,191,938
revolving credit line
loans serviced.............
For the Period: $ 3,153 $ 1,118 $ 3,700 $ 1,860 $ 4,269 $ 2,756
Gross Charge-offs
dollars..................
Percentage(1).............. 0.30% 0.10% 0.29% 0.14% 0.31% 0.23%
- -------------
(1) As a percentage of aggregate balance of revolving credit line loans serviced.
</TABLE>
The first two tables set forth after the first paragraph under the heading
"MLCC and its Mortgage Programs -- Dime Revolving Credit Loans -- Delinquency
and Loan Loss Experience" on page 81 of the Prospectus are hereby updated, in
their entirety, as follows:
<PAGE>
<TABLE>
<CAPTION>
Dime Portfolio Delinquency Experience
(Dollars in Thousands)
As of December 31,
----------------------------------------------------------------------------------
1993 1994 1995 1996 1997 1998
------------ ----------- ------------ ----------- ------------- -------------
<S> <C> <C> <C> <C>
Number of revolving credit line loans
serviced................................. 3,919 3,356 2,758 2,043
Aggregate loan balance of revolving credit
line loans serviced........................ $200,367 $163,241 $128,391 $ 86,179
Loan balance of revolving credit line loans
2 months delinquent........................ $ 1,000 $ 1,039 $ 809 $ 2,307
Loan balance of revolving credit line loans
3 months or more delinquent................ $ 2,885 $ 3,145 $ 3,589 $ 2,918
Total of 2 months or more delinquent as a
percentage of aggregate loan balance of
revolving credit line loans................ 1.94% 2.56% 3.42% 6.06%
</TABLE>
<TABLE>
<CAPTION>
Dime Portfolio Loss Experience
(Dollars in Thousands)
As of December 31,
----------------------------------------------------------------------------------
1993 1994 1995 1996 1997 1998
------------ ----------- ------------ ----------- ------------- -------------
<S> <C> <C> <C> <C>
As of end of Period:
Number of revolving credit line loans
serviced................................ 3,919 3,356 2,758 2,043
Aggregate loan balance of revolving
credit
line loans serviced..................... $200,367 $163,241 $128,391 $86,179
For the Period:
Gross charge-offs dollars................ $ 95 $ 327 $ 130 $ 174
Percentage(1)............................ 0.05% 0.20% 0.10% 0.20%
- --------------
(1) As a percentage of aggregate balance of Mortgage Loans serviced.
</TABLE>
The information contained in the tables entitled "Statistics Date Group 1
Loan Principal Balances", "Range of Prime Index Based Group 1 Margins" and
"Range of Six-Month LIBOR Based Group 1 Margins", "Statistics Data Fixed Rate
Loan Principal Balances" and "Statistics Date Group 2 Loan Principal Balances"
under the heading "The Mortgage Pools" on pages 58, 59, 62 and 64 respectively,
of the Prospectus are hereby updated to indicate, as of December 31, 1998, the
Mortgage Loan Balances and margins of the Mortgage Loans:
<PAGE>
<TABLE>
<CAPTION>
Group 1 Loan Principal Balances as of December 31, 1998
% of Group 1
Number of Principal Loans by
Range of Principal Balances Group 1 Loans Balance Principal Balance
- ------------------------------------------ ------------------- -------------------- ---------------------
<S> <C> <C> <C> <C>
$ 0.00- 49,999.99......... 37 $ 986,655.82 0.14%
$ 50,000.00- 54,999.99......... 10 515,343.16 0.07%
$ 55,000.00- 59,999.99......... 3 178,493.34 0.03%
$ 60,000.00- 74,999.99......... 22 1,488,292,86 0.21%
$ 75,000.00- 99,999.99......... 92 8,478,071.19 1.19%
$ 100,000.00- 149,999.99......... 220 27,278,859.61 3.84%
$ 150,000.00- 199,999.99......... 201 35,912,605.37 5.06%
$ 200,000.00- 249,999.99......... 175 38,693,210.43 5.45%
$ 250,000.00- 299,999.99......... 139 38,501,486.63 5.42%
$ 300,000.00- 349,999.99......... 128 40,979,524.82 5.74%
$ 350,000.00- 399,999.99......... 79 29,591,165.33 4.17%
$ 400,000.00- 449,999.99......... 51 21,529,585.55 3.03%
$ 450,000.00- 499,999.99......... 41 19,527,667.69 2.75%
$ 500,000.00- 549,999.99......... 33 17,238,163.81 2.43%
$ 550,000.00- 599,999.99......... 28 16,233,815.15 2.29%
$ 600,000.00- 649,999.99......... 37 23,047,828.65 3.25%
$ 650,000.00- 699,999.99......... 29 19,599,951.08 2.76%
$ 700,000.00- 749,999.99......... 28 20,342,939.14 2.86%
$ 750,000.00- 799,999.99......... 20 15,526,649.51 2.19%
$ 800,000.00- 849,999.99......... 20 16,428,109.71 2.31%
$ 850,000.00- 899,999.99......... 24 20,985,584.50 2.96%
$ 900,000.00- 949,999.99......... 16 14,666,689.83 2.07%
$ 950,000.00- 999,999.99......... 23 22,743,450.50 3.20%
$1,000,000.00- 1,099,999.99......... 34 34,713,937.83 4.89%
$1,100,000.00- 1,199,999.99......... 24 27,517,749.32 3.88%
$1,200,000.00- 1,299,999.99......... 20 25,147,090.31 3.54%
$1,300,000.00- 1,399,999.99......... 9 12,098,672.15 1.70%
$1,400,000.00- 1,499,999.99......... 5 7,278,919.02 1.03%
$1,500,000.00- 1,599,999.99......... 7 10,842,556.75 1.53%
$1,600,000.00- 1,699,999.99......... 7 11,539,824.92 1.63%
$1,700,000.00- 1,799,999.99......... 9 15,825,206.86 2.23%
$1,800,000.00- 1,899,999.99......... 4 7,328,946.71 1.03%
$1,900,000.00- 1,999,999.99......... 8 15,761,903.51 2.22%
$2,000,000.00- 2,099,999.99......... 12 24,426,495.29 3.44%
$2,100,000.00- 2,199,999.99......... 1 2,193,190.27 0.31%
$2,200,000.00- 2,299,999.99......... 5 11,268,934.31 1.59%
$2,400,000.00- 2,499,999.99......... 7 17,125,474.41 2.41%
$2,500,000.00- 2,599,999.99......... 2 5,099,999.74 0.72%
$2,600,000.00- 2,899,999.99......... 2 5,200,000.00 0.73%
$2,900,000.00- 2,999,999.99......... 5 14,919,885.72 2.10%
$3,000,000.00- 3,999,999.99......... 1 3,333,462.85 0.47%
$4,000,000.00 or Higher.................. 2 $ 8,000,000.00 1.13%
------------------- -------------------- ---------------------
TOTALS................................... 1,620 710,096,393.65 100.00%
------------------- -------------------- ---------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Range of Prime Index Based Group 1 Margins
as of December 31, 1998
% of
Number of Prime Index Based
Prime Index Based Group 1 Loans by
Margin Group 1 Loans Principal Balance Principal Balance
- ------------------------------ ---------------------------- -------------------- -----------------------------
<S> <C> <C> <C>
-0.500% 3 $ 1,178,347.25 1.05%
-0.375% 1 262,000.00 0.23%
-0.250% 19 26,495,060.72 23.50%
-0.125% 16 10,983,741.49 9.74%
0.000% 96 35,738,251.74 31.70%
0.125% 4 2,027,836.72 1.80%
0.250% 80 15,878,313.04 14.08%
0.375% 3 783,735.30 0.70%
0.500% 139 17,290,399.76 15.34%
0.625% 3 391,185.85 0.35%
0.750% 9 1,000,177.94 0.89%
0.875% 1 102,910.13 0.09%
1.000% 5 602,997.23 0.53%
---------------------------- -------------------- -----------------------------
TOTALS 379 $ 112,734,957.17 100.00%
---------------------------- -------------------- -----------------------------
</TABLE>
<TABLE>
<CAPTION>
Range of Six-Month LIBOR Based Group 1 Margins
as of December 31, 1998
Number of % of Six-Month LIBOR Based
Six-Month LIBOR Based Group 1 Loans by Principal
Margin Group 1 Loans Principal Balance Balance
- ------------------------------ ----------------------------- -------------------- -----------------------------
<S> <C> <C> <C>
0.875% 2 $ 1,479,583.64 0.25%
1.000% 5 4,664,335.24 0.78%
1.125% 3 1,965,689.89 0.33%
1.250% 10 4,857,796.42 0.81%
1.500% 141 192,798,789.25 32.34%
1.625% 139 96,166,621.10 16.13%
1.750% 310 145,216,705.29 24.36%
1.875% 68 36,195,759.19 6.07%
2.000% 221 58,904,590.19 9.88%
2.125% 40 9,849,771.46 1.65%
2.250% 210 31,610,517.66 5.30%
2.375% 35 5,331,477.28 0.89%
2.500% 42 6,242,563.68 1.05%
2.625% 4 423,333.87 0.07%
2.750% 4 529,019.20 0.09%
---------------------------- -------------------- -----------------------------
TOTALS 1,234 $ 596,236,553.36 100.00%
---------------------------- -------------------- -----------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Group 2 Loan Principal Balances as of December 31, 1998
% of Group 2
Number of Principal Loans by
Range of Principal Balances Group 2 Loans Balance Principal Balance
- ------------------------------------------ ---------------- ----------------------- --------------------
<S> <C> <C> <C>
$ 4,999.99 or Lower.................... 1,300 $ 2,907,433.51 2.08%
$ 5,000.00 - 9,999.99.......... 590 4,183,462.05 3.00%
$ 10,000.00 - 14,999.99.......... 350 4,295,171.21 3.08%
$ 15,000.00 - 19,999.99.......... 236 4,122,465.80 2.95%
$ 20,000.00 - 24,999.99.......... 222 4,988,983.97 3.57%
$ 25,000.00 - 29,999.99.......... 182 4,977,356.47 3.57%
$ 30,000.00 - 34,999.99.......... 107 3,489,621.47 2.50%
$ 35,000.00 - 39,999.99.......... 93 3,503,163.31 2.51%
$ 40,000.00 - 44,999.99.......... 86 3,653,400.27 2.62%
$ 45,000.00 - 49,999.99.......... 90 4,294,579.58 3.08%
$ 50,000.00 - 54,999.99.......... 62 3,241,657.76 2.32%
$ 55,000.00 - 59,999.99.......... 69 3,965,181.90 2.84%
$ 60,000.00 - 64,999.99.......... 40 2,514,232.93 1.80%
$ 65,000.00 - 69,999.99.......... 34 2,290.837.73 1.64%
$ 70,000.00 - 74,999.99.......... 40 2,894,774.01 2.07%
$ 75,000.00 - 99,999.99.......... 144 12,675,751.99 9.08%
$ 100,000.00 - 149,999.99.......... 125 15,313,746.91 10.98%
$ 150,000.00 - 199,999.99.......... 61 10,525,275.85 7.54%
$ 200,000.00 - 249,999.99.......... 43 9,549,096.18 6.84%
$ 250,000.00 - 299,999.99.......... 18 4,918,372.68 3.52%
$ 300,000.00 - 349,999.99.......... 14 4,519,560.91 3.24%
$ 350,000.00 - 399,999.99.......... 6 2,264,697.61 1.62%
$ 400,000.00 - 449,999.99.......... 9 3,786,694.50 2.71%
$ 450,000.00 - 499,999.99.......... 2 967,848.81 0.69%
$ 500,000.00 - 599,999.99.......... 3 1,535,648.91 1.10%
$ 600,000.00 - 649,999.99.......... 3 1,875,134.90 1.34%
$ 650,000.00 - 699,999.99.......... 2 1,354,165.33 0.97%
$ 700,000.00 - 749,999.99.......... 1 701,997.78 0.50%
$ 750,000.00 - 949,999.99.......... 1 758,024.00 0.54%
$ 950,000.00 - 999,999.99.......... 1 999,592.66 0.72%
$1,000,000.00 - 1,099,999.99.......... 1 1,013,837.74 0.73%
$1,100,000.00 - 1,199,999.99.......... 1 1,157,945.81 0.83%
$1,200,000.00 - 1,299,999.99.......... 1 1,201,271.77 0.86%
$1,400,000.00 - 1,499,999.99.......... 1 1,499,383.23 1.07%
$2,200,000.00 - 2,299,999.99.......... 1 2,292,215.80 1.64%
$2,400,000.00 - 2,499,999.99.......... 1 2,499,168.90 1.79%
$2,800,000.00 - 2,899,999.99.......... 1 2,873,693.38 2.06%
---------------- ----------------------- --------------------
TOTALS 3,941 $ 139,605,447.62 100.00%
---------------- ----------------------- --------------------
</TABLE>
Additionally, the information contained in the tables entitled "Group 1
Certificate Characteristics" and "Group 2 Certificate Characteristics" under
the heading "Description of the Pooled Certificates-General" on pages 35 and
39, respectively, of the Prospectus are hereby updated to indicate, as of
December 31, 1998, the Certificate Characteristics:
<TABLE>
<CAPTION>
Subordinate 1995-S1
Group 1 Certificate Characteristics as of December 31, 1998
Parties to Current Current
Pooling and Type Original Senior Original Adjustable Senior
Month and of Original Mortgage Pooled Loan Mortgage
of Servicing Mortgage Principal Certificate Certificates Principal Certificates
Series Issuance Agreement Loan Balance(1) Balance(2) Balance Balance(1)(3) Balance(2)(3)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MLMI 1993F 9/93 (5) (6) $ 210,704,370 $ 202,758,500 $ 7,945,870 $61,174,650 $53,228,780
MLMI 1993I 11/93 (5) (6) 156,171,951 152,032,000 4,139,951 55,362,088 51,222,137
MLMI 1994A 1/94 (5) (6) 284,637,957 276,098,000 8,539,957 98,776,499 90,236,542
MLMI 1994F 3/94 (5) (6) 288,806,078 280,140,000 8,666,078 24,517,843 115,851,765
MLMI 1994H 5/94 (5) (6) 214,155,739 207,195,000 6,960,739 96,053,234 89,092,495
MLCCMI 1994A 7/94 (5) (6) 393,157,420 378,795,000 14,362,420 152,836,981 138,474,561
MLCCMI 1994B 12/94 (5) (6) 306,606,666 296,641,000 9,965,666 121,375,100 111,409,434
Totals $1,854,240,181 $1,793,659,500 $60,580,681 $710,096,395 $649,515,714
Current
Original Pooled
Pooled Current Certificate 30-59 60+
Certificates Pooled Balance Day Day
Current Balance as a % Certificates as a % Delinquencies Delinquencies
Pooled of Original Balance as a % of the as a % as a %
Certificates Principal of Principal Respective of Principal of Principal
Series Balance(3) Balance(1) Balance(1)(3) Total(3) Balance(1)(3) Balance (1)(3
<S> <C> <C> <C> <C> <C> <C>
MLMI 1993F $ 7,945,870 3.77% 12.99% 13.12% 3.35% 3.19%
MLMI 1993I 4,139,951 2.65% 7.48% 6.83% 0.71% 0.00%
MLMI 1994A 8,539,957 3.00% 8.65% 14.10% 0.61% 0.15%
MLMI 1994F 8,666,078 3.00% 6.96% 14.31% 1.39% 0.18%
MLMI 1994H 6,960,739 3.25% 7.25% 11.49% 0.90% 0.16%
MLCCMI 1994A 14,362,420 3.65% 9.40% 23.71% 1.03% 1.70%
MLCCMI 1994B 9,965,666 3.25% 8.21% 16.45% 3.46% 1.70%
Totals $ 60,580,681 3.27%(7) 8.53%(7) 100.00% 1.60%(7) 1.00%
Mortgage CPR
Loans in for the
Foreclosure Mortgage
as a % of Loans
Principal in the
Series Balance Series(4)
<S>
MLMI 1993F <C> <C>
MLMI 1993I 0.00% 20.70%
MLMI 1994A 2.17% 18.20%
MLMI 1994F 4.95% 19.10%
MLMI 1994H 0.33% 16.00%
MLCCMI 1994A 0.99% 15.80%
MLCCMI 1994B 2.96% 18.90%
5.19% 20.30%
Totals 2.57%(7) N/A
- ------------
(1) Includes only the Group 1 Loans (i.e., does not include any Fixed Rate Loans).
(2) Includes only those Senior Mortgage Certificates that are principally
supported by the Group 1 Loans. (3) As of December 31, 1998 (after the January 15, 1999 distribution).
(4) The CPR is the constant rate of prepayment each month, expressed as a per annum percentage of the scheduled principal
balance of the pool of mortgage loans for that month, for the period from the Underlying Cut-off Date for the Series to
December 31, 1998.
(5) Merrill Lynch Mortgage Investors, Inc. (in the case of Series 1994A (7/94) and Series 1994B, MLCC Mortgage Investors, Inc.),
as depositor, MLCC, as Servicer, and Bankers Trust Company of California, N.A., as Underlying Trustee.
(6) The Mortgage Loans in all Loan Groups that principally support the Pooled Certificates are adjustable rate PrimeFirst(R)
loans. See "The Mortgage Pools--Group 1 Loans."
(7) Weighted average of the percentages in the column above such number.
</TABLE>
<TABLE>
<CAPTION>
Subordinate 1995-S1
Group 2 Certificate Characteristics as of December 31, 1998
Pooling and Type Original Senior Original
Month and of Distribution Original Mortgage Pooled
of Servicing Mortgage of Lien Pool Certificate Certificates
Series Issuance Agreement Loan Priority Balance Balance(2) Balance
<S> <C> <C> <C> <C> <C> <C> <C>
1994-1 4/94 (3) (4)(5) (6) $366,122,025 $355,138,000 $10,984,025
1994-2 9/94 (3) (4) (7) 215,141,299 209,978,000 5,163,299
1995-1 3/95 (3) (4)(5) (8) 339,185,872 331,554,000 7,631,872
Totals..... $920,449,196 $896,670,000 $23,779,196
Current
Original Pooled
Pooled Current Certificate 30-59
Current Certificates Pooled Balance Day
Senior Current Balance as a % Certificates as a % Delinquencies
Current Mortgage Pooled of Original Balance as a % of the as a %
Pool Certificates Certificates Principal of Principal Respective of Principal
Series Balance(1) Balance(1) Balance(1) Balance(1) Balance(1)(3) Total(3) Balance(1)(3)
<S> <C> <C> <C> <C> <C> <C> <C>
1994-1 $53,899,462 $42,915,437 $10,984,025 3.00% 20.38% 46.20% 5.30%
1994-2 25,892,736 20,729,437 5,163,299 2.40% 19.94% 21.71% 1.60%
1995-1 56,503,460 48,871,588 7,631,872 2.25% 13.51% 32.09% 3.22%
Totals..... $136,295,658 $112,516,462 $23,779,196 2.58% 17.45% 100.00% 3.73%
60+ Mortgage CPR
Day Loans in for the
Delinquencies Foreclosure Mortgage
as a % as a % of Loans
of Principal Principal in the
Series Balance (1)(3 Balance Series(4)
<S> <C> <C> <C>
1994-1 2.19% 6.86% 33.2%
1994-2 2.26% 3.06% 38.7%
1995-1 2.68% 1.71% 37.3%
Totals..... 2.41% 4.00% NA
- --------------
(1) As of December 31, 1998 (after the January 15, 1999 distribution).
(2) The CPR is the constant rate of prepayment each month, expressed as a per annum percentage of the scheduled principal
balance of the pool of mortgage loans for that month, for the period from the Underlying Cut-off Date for the Series to
December 31, 1998.
(3) Merrill Lynch Home Equity Acceptance, Inc. (in the case of Series 1994-1) and MLCC Mortgage Investors, Inc. (in the case
of Series 1994-2 and Series 1995-1), as depositor, MLCC, as Servicer, and Bankers Trust Company of California, N.A., as
Underlying Trustee.
(4) MLCC Revolving Credit Loans. See "MLCC and Its Mortgage Programs--Equity
Access(R) Program".
(5) Includes Dime Revolving Credit Loans. See "MLCC and Its Mortgage Programs--Dime Revolving Credit Loans." Substantially
all of the Mortgaged Properties securing the Dime Revolving Credit Loans are located in New York.
(6) 58.17% first liens and 41.83% second and third liens, based on the 903 MLCC Revolving Credit Loans as of the Statistics
Date.
(7) 51.14% first liens and 48.86% second and third liens as of the Statistics Date.
(8) 55.66% first liens and 44.34% second, third and fourth liens, based on the 1,277 MLCC Revolving Credit Loans as of the
Statistics Date.
(9) Weighted average of the percentages in the column above each number.
</TABLE>
----------------------
The date of this Prospectus Supplement is April 1, 1999.
