MLMI PRIMEFIRST ADJ RATE MO SEN SUB PASS THR CERT SER 1994 H
424B3, 1999-04-01
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                                                     Registration No. 33-77958
                                                                Rule 424(b)(3)

             SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED MAY 25, 1994

                 Merrill Lynch Mortgage Investors, Inc., Seller
             Senior/Subordinate Mortgage Pass-Through Certificates,
           Series 1994H, Class A-1, A-2, A-3, M, A-4 and A-5 (Senior)

                        MERRILL LYNCH CREDIT CORPORATION
                                Master Servicer
       -----------------------------------------------------------------

     On June 1, 1994, the Senior/Subordinate Pass-Through Certificates, Series
1994H, Class A-1, A-2, A-3, M, A-4 and A-5 (the "Offered Certificates") were
issued in an approximate original aggregate principal amount of $243,554,000.
The Offered Certificates represented beneficial interests in the Trust Fund
created pursuant to a Pooling and Servicing Agreement dated as of May 1, 1994
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 Mortgage Program--Delinquency and Loan Loss Experience" on pages
S-50 and S-51 of the Prospectus Supplement 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%

</TABLE>


- -----------
*  Does not include loans subject to bankruptcy proceedings.


<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>

     Additionally, the information contained in the table entitled "Range of
Cut-Off Date Principal Balances for Loan Group 1," "Margins in Loan Group 1",
"Range of Cut-Off Principal Balances for Loan Group 2" and "Cut-Off Date
Principal Balances for Loan Group 3" under the heading "The Mortgage Pool" on
pages S-32, S-35, S-39 and S-43, respectively, of the Prospectus Supplement is
hereby updated to indicate, as of December 31, 1998, the Mortgage Loan Balances
and margins of the Mortgage Loans:



<PAGE>

<TABLE>
<CAPTION>


Range of Principal Balances for Loan Group 1 as of December 31, 1998

                                                                                            % of Mortgage
                                      Number of Mortgage                                  Pool by Principal
Range of Principal Balances                 Loans                  Principal Balance           Balance
- -----------------------------------------------------------------------------------------------------------
<S>                                         <C>                    <C>                       <C>  
$0-49,999.99                                 3                       $ 93,077.38               0.10%
$50000-54999.99                              1                         52,029.28               0.05%
$60,000-74,999.99                            2                        128,132.44               0.13%
$75,000-99,999.99                            3                        291,680.95               0.30%
$100,000-149,999.99                         23                      2,878,155.51               3.00%
$150,000-199,999.99                         28                      5,091,266.60               5.30%
$200,000-249,999.99                         27                      5,916,502.85               6.16%
$250,000-299,999.99                         18                      5,138,613.33               5.35%
$300,000-349,999.99                         20                      6,409,310.74               6.67%
$350,000-399,999.99                         12                      4,427,109.22               4.61%
$400,000-449,999.99                          5                      2,099,869.82               2.19%
$450,000-499,999.99                          3                      1,428,999.90               1.49%
$500,000-549,999.99                          6                      3,186,162.67               3.32%
$550,000-599,999.99                          2                      1,158,546.00               1.21%
$600,000-649,999.99                          5                      3,191,403.23               3.32%
$650,000-699,999.99                          5                      3,323,047.79               3.46%
$700,000-749,999.99                          5                      3,631,872.73               3.78%
$750,000-799,999.99                          2                      1,540,000.00               1.60%
$800,000-849,999.99                          3                      2,458,000.00               2.56%
$850,000-899,999.99                          5                      4,367,664.49               4.55%
$900,000-949,999.99                          3                      2,723,548.39               2.84%
$950,000-999,999.99                          3                      2,980,836.68               3.10%
$1,000,000-1,099,999.99                      4                      4,098,413.05               4.27%
$1,100,000-1,199,999.99                      3                      3,478,728.17               3.62%
$1,200,000-1,299,999.99                      2                      2,598,120.04               2.70%
$1,300,000-1,399,999.99                      2                      2,600,000.00               2.71%
$1,700,000-1,799,999.99                      1                      1,750,000.00               1.82%
$1,800,000-1,899,999.99                      1                      1,825,000.00               1.90%
$1,900,000-1,999,999.99                      1                      1,999,687.50               2.08%
$2,000,000-2,099,999.99                      2                      4,064,498.52               4.23%
$2,200,000-2,299,999.99                      2                      4,522,956.57               4.71%
$2,600,000-2,699,999.99                      1                      2,600,000.00               2.71%
$3,000,000 or Higher                         1                      4,000,000.00               4.16%
                                  -------------------------------------------------------------------
             TOTALS                         204                  $ 96,053,233.85             100.00%
                                  -------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

                                       Range of Margins in Loan Group 1 as of December 31, 1998

                                                                                            % of Mortgage
                                      Number of Mortgage                                  Pool by Principal
          Margins (1)                       Loans                  Principal Balance           Balance
- -----------------------------------------------------------------------------------------------------------
                           <S>               <C>                  <C>                         <C>  
                             -0.5             1                        520,000.00               0.54%
                             -0.25            1                        300,000.00               0.31%
                                0             6                      2,113,946.57               2.20%
                              0.125           1                        665,836.72               0.69%
                              0.25           12                      2,573,763.61               2.68%
                              0.5            11                      1,406,604.86               1.46%
                              1.5            22                     33,860,872.38              35.25%
                              1.625          25                     18,020,362.15              18.76%
                              1.75           48                     20,880,599.22              21.74%
                              1.875           1                        750,000.00               0.78%
                                2            42                      9,968,002.91              10.38%
                              2.25           28                      4,069,740.62               4.24%
                              2.375           1                        158,500.00               0.17%
                              2.5             5                        765,004.81               0.80%
                                  -------------------------------------------------------------------
             TOTALS                         204                   $ 96,053,233.85             100.00%
                                  -------------------------------------------------------------------
</TABLE>


- --------------
(1)      The Margin is added to or subtracted from (as indicated) the
         applicable Prime Index to arrive at the Mortgage Rate, except
         generally when the Margin is greater than or equal to 1.125% but less
         than or equal to 2.500% in which case it is added to the applicable
         Six-Month LIBOR Index. Notwithstanding the foregoing, the Mortgage
         Rate will not exceed its Maximum Mortgage Rate.
<TABLE>
<CAPTION>


Range of Principal Balances for Loan Group 2 as of December 31, 1998


                                                                                            % of Mortgage
                                      Number of Mortgage                                  Pool by Principal
Range of Principal Balances                 Loans                  Principal Balance           Balance
- -----------------------------------------------------------------------------------------------------------
<S>                                         <C>                    <C>                       <C>  
$0-49,999.99                                 3                       $ 91,142.96               0.77%
$50,000-54,999.99                            2                        100,996.29               0.85%
$55,000-59,999.99                            2                        112,095.64               0.95%
$60,000-74,999.99                            4                        269,299.94               2.27%
$75,000-99,999.99                           10                        856,301.30               7.22%
$100,000-149,999.99                          5                        640,416.15               5.40%
$150,000-199,999.99                          4                        711,030.91               6.00%
$200,000-249,999.99                          8                      1,856,609.60              15.66%
$250,000-299,999.99                          5                      1,343,187.96              11.33%
$300,000-349,999.99                          2                        687,976.05               5.80%
$350,000-399,999.99                          2                        766,632.88               6.47%
$400,000-449,999.99                          1                        410,004.61               3.46%
$450,000-499,999.99                          1                        473,082.13               3.99%
$600,000-649,999.99                          2                      1,257,423.40              10.60%
$800,000-849,999.99                          1                        849,329.11               7.16%
$1,400,000-1,499,999.99                      1                      1,431,509.47              12.07%
                                  -------------------------------------------------------------------
             TOTALS                         53                   $ 11,857,038.40             100.00%
                                  -------------------------------------------------------------------
</TABLE>



<TABLE>
<CAPTION>

Principal Balances for Loan Group 3 as of December 31, 1998

                                                                                            % of Mortgage
                                      Number of Mortgage                                  Pool by Principal
Range of Principal Balances                 Loans                  Principal Balance           Balance
- -----------------------------------------------------------------------------------------------------------
<S>                                         <C>                    <C>                       <C>  
$0-49,999.99                                 1                       $ 27,804.97               0.29%
$55,000-59,999.99                            1                         58,291.26               0.60%
$60,000-74,999.99                            3                        204,875.28               2.10%
$75,000-99,999.99                            2                        189,392.63               1.95%
$100,000-149,999.99                          7                        869,114.63               8.93%
$150,000-199,999.99                          6                      1,063,613.26              10.93%
$200,000-249,999.99                         10                      2,202,420.92              22.60%
$250,000-299,999.99                          6                      1,649,395.77              16.95%
$300,000-349,999.99                          2                        624,422.71               6.42%
$350,000-399,999.99                          1                        350,020.00               3.60%
$450,000-499,999.99                          2                        973,175.25              10.00%
$550,000-599,999.99                          1                        566,653.05               5.82%
$950,000-999,999.99                          1                        954,594.35               9.81%
                                  -------------------------------------------------------------------
             TOTALS                         43                    $ 9,733,774.08             100.00%
                                  -------------------------------------------------------------------
</TABLE>

                The date of this Supplement is April 1, 1999.


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