Registration No. 33-42090
Rule 424(b)(3)
SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED FEBRUARY 24, 1992
Merrill Lynch Mortgage Investors, Inc., Seller
PrimeFirst(Registered Trademark) Adjustable Rate Mortgage
Senior/Subordinate Pass-Through Certificates,
Series 1992A, Class A-1 and A-2 (Senior)
MERRILL LYNCH CREDIT CORPORATION
Master Servicer
_____________________________________________________________________________
On February 27, 1992, the PrimeFirst(Registered Trademark) Adjustable
Rate Mortgage Senior/Subordinate Pass-Through Certificates, Series 1992A,
Class A-1 and A-2 (the "Class A Certificates") were issued in an approximate
original aggregate principal amount of $231,137,411.43. The Class A
Certificates represented beneficial interests of approximately 90.75% in the
Trust Fund created pursuant to a Pooling and Servicing Agreement dated as of
February 1, 1992 by and among Merrill Lynch Mortgage Investors, Inc, as
seller, Merrill Lynch Credit Corporation, as master servicer, and Bankers
Trust Company of California, N.A., as trustee. This Supplement to the above-
referenced Prospectus Supplement (the "Prospectus Supplement") supplements
and updates certain of the information set forth in the Prospectus
Supplement. Capitalized terms not defined herein have the meanings ascribed
to them in the Prospectus Supplement.
The first two tables set forth after the first paragraph under the
heading "MLCC and its PrimeFirst(Registered Trademark) Mortgage Program--
Delinquency and Loan Loss Experience" on page S-21 of the Prospectus
Supplement are hereby updated, in their entirety, as follows:
1992 A Class A
PRIMEFIRST(Registered Trademark) LOAN DELINQUENCY EXPERIENCE
(Dollars in Thousands)
<TABLE>
<CAPTION>
December 31, 1997 December 31, 1996 December 31, 1995
------------------------ ----------------------- ------------------------
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 . . . . . . 14,159 $5,302,950 11,054 $4,331,131 8,272 $3,536,761
Delinquency Period
30-59 Days . . . . . . 183 $ 66,254 180 $ 84,297 127 $ 56,370
60-89 Days . . . . . . 26 18,544 19 6,583 13 7,917
90 Days or More* . . . 24 18,072 29 27,590 44 45,749
------------ ---------- ----------- ---------- ----------- -----------
Total Delinquency . 233 $ 102,870 228 $ 118,470 184 $ 110,036
============ ========== =========== ========== =========== ===========
Delinquencies as
Percent of Number
of PrimeFirst Loans
and Principal Amount
Outstanding . . . . . . 1.65% 1.94% 2.06% 2.74% 2.22% 3.11%
Foreclosures . . . . . . 39 $ 47,396 29 $ 39,100 28 $ 38,209
Foreclosures as
Percent of Number
of PrimeFirst Loans
and Principal Amount
Outstanding . . . . . . 0.28% 0.89% 0.26% 0.90% 0.34% 1.08%
</TABLE>
_________________________________
* Does not include loans subject to bankruptcy proceedings.
PRIMEFIRST(Registered Trademark) LOAN LOSS EXPERIENCE
(Dollars in Thousands)
<TABLE>
<CAPTION>
Year Ended Year Ended Year Ended
December 31, 1997 December 31, 1996 December 31, 1995
------------------ ----------------- -------------------
<S> <C> <C> <C>
Average Principal Balance of
PrimeFirst Loan Portfolio . . . . . . . . $4,817,041 $3,933,946 $3,444,045
Average Number of PrimeFirst
Loans Outstanding
During the Period . . . . . . . . . . . . 12,607 9,663 7,944
Gross Charge-offs . . . . . . . . . . . . . $ 5,363 $ 6,157 $ 1,840
Recoveries . . . . . . . . . . . . . . . . $ 99 $ 0 $ 0
------------------ ----------------- -------------------
Net Charge-offs . . . . . . . . . . . . . . $ 5,264 $ 6,157 $ 1,840
================== ================= ===================
Net Charge-offs as a Percent
of Average Principal
Balance Outstanding . . . . . . . . . . . 0.11% 0.16% 0.05%
</TABLE>
1992 A Class A
Additionally, the information contained in the table entitled "Cut-Off
Date Principal Balances" and "Range of Margins" under the heading "The
Mortgage Pool" on pages S-15 and S-18, respectively, of the Prospectus
Supplement is hereby updated to indicate, as of December 31, 1997, the
Mortgage Loan Balances and margins of the Mortgage Loans:
PRINCIPAL BALANCES AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
Range of Number of % of Mortgage
Principal Balances Mortgage Principal Pool by
Loans Balance Principal Balance
- ----------------------------------------- --------- -------------- -----------------
<S> <C> <C> <C>
$ 0.00- 49,999.99 . . . . . . 5 $184,752.44 0.24%
$ 55,000.00- 59,999.99 . . . . . . 2 113,626.70 0.15
$ 75,000.00- 99,999.99 . . . . . . 3 264,350.65 0.34
$ 100,000.00- 149,999.99 . . . . . 5 664,503.55 0.85
$ 150,000.00- 199,999.99 . . . . . 16 2,943,188.02 3.76
$ 200,000.00- 249,999.99 . . . . . 21 4,605,724.78 5.88
$ 250,000.00- 299,999.99 . . . . . 28 8,038,373.88 10.24
$ 300,000.00- 349,999.99 . . . . . 20 6,402,315.04 8.18
$ 350,000.00- 399,999.99 . . . . . 17 6,317,591.13 8.07
$ 400,000.00- 449,999.99 . . . . . 10 4,159,207.25 5.31
$ 450,000.00- 499,999.99 . . . . . 11 5,259,809.42 6.72
$ 500,000.00- 549,999.99 . . . . . 3 1,599,244.99 2.04
$ 550,000.00- 599,999.99 . . . . . 10 5,739,982.38 7.33
$ 600,000.00- 649,999.99 . . . . . 4 2,500,079.86 3.19
$ 650,000.00- 699,999.99 . . . . . 2 1,349,999.99 1.72
$ 700,000.00- 749,999.99 . . . . . 6 4,380,087.15 5.59
$ 750,000.00- 799,999.99 . . . . . 1 760,147.53 0.97
$ 800,000.00- 849,999.99 . . . . . 1 800,000.00 1.02
$ 900,000.00- 949,999.99 . . . . . 2 1,899,319.48 2.43
$ 950,000.00- 999,999.99 . . . . . 2 1,978,110.07 2.53
$ 1,000,000.00- 1,099,999.99 . . . . 2 2,048,496.67 2.62
$ 1,100,000.00- 1,199,999.99 . . . . 3 3,300,000.00 4.21
$ 1,200,000.00- 1,299,999.99 . . . . 2 2,518,658.06 3.22
$ 1,300,000.00- 1,399,999.99 . . . . 2 2,660,000.00 3.40
$ 1,600,000.00- 1,699,999.99 . . . . 1 1,600,000.00 2.04
$ 1,900,000.00- 1,999,999.99 . . . . 2 3,999,400.81 5.11
$ 2,200,000.00- 2,299,999.99 . . . . 1 2,225,000.00 2.84
--------- -------------- -----------------
TOTALS . . . . . . . 182 $ 78,311,969.85 100.00%
========= ============== =================
</TABLE>
1992 A Class A
RANGE OF MARGINS AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
% of Mortgage
Number of Pool by
Margin/(1)/ Mortgage Loans Principal Balance Principal Balance
- ----------------------- -------------- ------------------- -------------------
<S> <C> <C> <C>
-0.250% 15 $ 19,751,224.55 25.22%
-0.125% 31 18,166,233.33 23.20
0.000% 97 32,673,274.28 41.72
-------------- ------------------- -------------------
0.250% 39 7,721,237.69 9.86
============== =================== ===================
TOTALS 182 $ 78,311,969.85 100.00%
</TABLE>
________________________
(1) The Margin is added to or subtracted from (as indicated) the applicable
Prime Index to arrive at the Mortgage Rate; provided that the Mortgage
Rate will not exceed 18.00% per annum.
____________________
The date of this Supplement is April 13, 1998.
