Registration No. 33-49788
Rule 424(b)(3)
PROSPECTUS SUPPLEMENT TO PROSPECTUS DATED AUGUST 20, 1992
Merrill Lynch Mortgage Investors, Inc., Seller
PrimeFirst(Registered Trademark) Adjustable Rate Mortgage
Senior/Subordinate Pass-Through Certificates,
Series 1992F, Class B (Subordinate)
MERRILL LYNCH CREDIT CORPORATION
Master Servicer
_________________________________________________________________
On August 20, 1992, the PrimeFirst(Registered Trademark) Adjustable Rate
Mortgage Senior/Subordinate Pass-Through Certificates, Series 1992F, Class B
(the "Class B Certificates") were issued in an approximate original aggregate
principal amount of $15,350,000. The Class B Certificates represented
beneficial interests of approximately 5.00% in the Trust Fund created
pursuant to a Pooling and Servicing Agreement dated as of August 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 Prospectus Supplement to the above-
referenced Prospectus (the "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 "The Master Servicer - MLCC and its PrimeFirst Mortgage Program--
Delinquency and Loan Loss Experience" on pages 25 and 26 of the Prospectus
are hereby updated, in their entirety, as follows:
<TABLE>
PRIMEFIRST(Registered Trademark) LOAN DELINQUENCY EXPERIENCE
(Dollars in Thousands)
<CAPTION>
December 31, 1996 December 31, 1995 December 31, 1994
-------------------------- ---------------------------- -------------------------
Number of Number of
PrimeFirst Principal Number of Principal PrimeFirst Principal
Loans Amount PrimeFirst Loans Amount Loans Amount
----------- --------- ---------------- --------- ---------- ---------
<S> <C> <C> <C> <C> <C> <C>
PrimeFirst Loans
Outstanding . . . . . . . . 11,054 $4,331,131 8,272 $3,536,761 7,615 $3,351,328
Delinquency Period
30-59 Days . . . . . . . . 180 $ 84,297 127 $ 56,370 121 $ 86,279
60-89 Days . . . . . . . . 19 6,583 13 7,917 20 18,152
90 Days or More* . . . . . 29 27,590 44 45,749 17 19,257
------ ---------- ----- ---------- ----- ----------
Total Delinquency . . . 228 118,470 184 $ 110,036 158 $ 123,688
====== ========== ===== ========== ===== ==========
Delinquencies as Percent
of Number of PrimeFirst
Loans and Principal Amount
Outstanding . . . . . . . . 2.06% 2.74% 2.22% 3.11% 2.07% 3.69%
Foreclosures . . . . . . . . 29 $ 39,100 28 $ 38,209 18 $ 15,637
Foreclosures as Percent
of Number of PrimeFirst
Loans and Principal Amount
Outstanding . . . . . . . . 0.26% 0.90% 0.34% 1.11% 0.24% 0.47%
</TABLE>
_________________________________
* Does not include loans subject to bankruptcy proceedings.
<TABLE>
PRIMEFIRST(Registered Trademark) LOAN LOSS EXPERIENCE
(Dollars in Thousands)
<CAPTION>
Year Ended Year Ended Year Ended
December 31, 1996 December 31, 1995 December 31, 1994
----------------- ----------------- -----------------
<S> <C> <C> <C>
Average Principal Balance of PrimeFirst
Loan Portfolio . . . . . . . . . . . . . $3,933,946 $3,444,045 $2,807,875
Average Number of PrimeFirst Loans
Outstanding
During the Period . . . . . . . . . . . . 9,663 7,944 6,287
Gross Charge-offs . . . . . . . . . . . . . $ 6,157 $ 1,840 $ 457
Recoveries . . . . . . . . . . . . . . . . 0 0 0
---------- ---------- ----------
Net Charge-offs . . . . . . . . . . . . . . $ 6,157 $ 1,840 $ 457
========== ========== ==========
Net Charge-offs as a percent of Average
Principal Balance Outstanding . . . . . . 0.16% 0.05% 0.02%
</TABLE>
Additionally, the information contained in the table entitled "Cut-Off
Date Mortgage Loan Principal Balances" and "Range of Margins" under the
heading "The Mortgage Pool" on pages 19 and 22, respectively, of the
Prospectus is hereby updated to indicate, as of December 31, 1996, the
Mortgage Loan Balances and margins of the Mortgage Loans:
<TABLE>
MORTGAGE LOAN PRINCIPAL BALANCES AS OF DECEMBER 31, 1996
<CAPTION>
% of Mortgage
Range of Number of Pool by
Principal Balances Mortgage Loans Principal Balance Principal Balance
- ------------------------------------------- -------------- -------------------- -------------------
<S> <C> <C> <C>
$ 0.00- 49,999.99 . . . . . . . . . 6 $166,280.77 0.13%
$ 55,000.00- 59,999.99 . . . . . . . 3 172,583.43 0.13
$ 60,000.00- 74,999.99 . . . . . . . 4 283,905.05 0.22
$ 75,000.00- 99,999.99 . . . . . . . 9 813,121.50 0.62
$ 100,000.00- 149,999.99 . . . . . . 33 4,155,334.67 3.16
$ 150,000.00- 199,999.99 . . . . . . 37 6,644,358.07 5.05
$ 200,000.00- 249,999.99 . . . . . . 50 10,811,455.37 8.20
$ 250,000.00- 299,999.99 . . . . . . 31 8,578,905.42 6.52
$ 300,000.00- 349,999.99 . . . . . . 33 10,421,013.33 7.92
$ 350,000.00- 399,999.99 . . . . . . 17 6,466,103.41 4.91
$ 400,000.00- 449,999.99 . . . . . . 20 8,312,085.06 6.32
$ 450,000.00- 499,999.99 . . . . . . 13 6,198,208.58 4.71
$ 500,000.00- 549,999.99 . . . . . . 13 6,805,659.07 5.17
$ 550,000.00- 599,999.99 . . . . . . 8 4,572,642.00 3.47
$ 600,000.00- 649,999.99 . . . . . . 8 4,973,963.93 3.78
$ 650,000.00- 699,999.99 . . . . . . 5 3,417,251.68 2.60
$ 700,000.00- 749,999.99 . . . . . . 6 4,344,130.25 3.30
$ 750,000.00- 799,999.99 . . . . . . 2 1,559,404.80 1.18
$ 800,000.00- 849,999.99 . . . . . . 2 1,624,031.93 1.23
$ 850,000.00- 899,999.99 . . . . . . 4 3,535,758.49 2.69
$ 900,000.00- 949,999.99 . . . . . . 5 4,623,856.51 3.51
$ 950,000.00- 999,999.99 . . . . . . 3 2,974,909.79 2.26
$ 1,000,000.00- 1,099,999.99 . . . . . 2 2,059,662.63 1.57
$ 1,100,000.00- 1,199,999.99 . . . . . 1 1,170,000.00 0.89
$ 1,200,000.00- 1,299,999.99 . . . . . 4 4,928,801.53 3.75
$ 1,300,000.00- 1,399,999.99 . . . . . 2 2,712,000.00 2.06
$ 1,400,000.00- 1,499,999.99 . . . . . 3 4,249,801.37 3.23
$ 1,700,000.00- 1,799,999.99 . . . . . 1 1,749,228.55 1.33
$ 1,900,000.00- 1,999,999.99 . . . . . 1 1,949,999.75 1.48
$ 2,000,000.00- 2,099,999.99 . . . . . 1 2,000,000.00 1.52
$ 2,100,000.00- 2,199,999.99 . . . . . 2 4,325,183.36 3.29
$ 2,400,000.00- 2,499,999.99 . . . . . 1 2,499,281.00 1.90
$ 2,500,000.00- 2,599,999.99 . . . . . 1 2,500,000.00 1.90
-------------- ------------------- -----------------
TOTALS . . . . . . . . 331 $131,598,921.30 100.00%
============== =================== =================
</TABLE>
<TABLE>
RANGE OF MARGINS AS OF DECEMBER 31, 1996
<CAPTION>
% of Mortgage
Number of Pool by
Margin/(1)/ Mortgage Loans Principal Balance Principal Balance
- ---------------------- -------------- ---------------------- ---------------------
<S> <C> <C> <C>
-0.250% 26 $ 35,618,397.19 27.07%
-0.125% 35 23,896,089.26 18.16
0.000% 127 47,014,723.75 35.72
0.250% 100 19,922,478.32 15.14
0.500% 43 5,147,232.78 3.91
---- --------------- -------
TOTALS 331 $131,598,921.30 100.00%
==== =============== =======
</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 either 15.00% or 18.00% per annum, as applicable.
____________________
The date of this Supplement is March 31, 1997.
