Registration No. 33-77642
Rule 424(b)(3)
SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED JULY 28, 1994
MLCC Mortgage Investors, Inc., Seller
Senior/Subordinate Mortgage Pass-Through Certificates,
Series 1994A, Class A-1, A-2, A-3, M-1, A-4 and M-2 (Senior)
MERRILL LYNCH CREDIT CORPORATION
Master Servicer
_________________________________________________________________
On August 4, 1994, the Senior/Subordinate Pass-Through Certificates,
Series 1994A, Class A-1, A-2, A-3, M-1, A-4 and M-2 (the "Offered
Certificates") were issued in an approximate original aggregate principal
amount of $378,795,000. The Offered Certificates represented beneficial
interests in the Trust Fund created pursuant to a Pooling and Servicing
Agreement dated as of July 1, 1994 by and among MLCC 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 page S-41 of the Prospectus Supplement 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 tables entitled "Range of
Cut-Off Date Principal Balances for Loan Group 1", "Margins in Loan Group 1",
"Range of Cut-Off Date Principal Balances for Loan
Group 2" and "Margins in Loan Group 2" under the heading "The Mortgage Pool"
on pages S-29, S-31, S-33 and S-35, respectively, of the Prospectus
Supplement are hereby updated to indicate, as of December 31, 1996, the
Mortgage Loan Balances and margins of the Mortgage Loans:
<TABLE>
RANGE OF PRINCIPAL BALANCES FOR LOAN GROUP 1 OF DECEMBER 31, 1996
<CAPTION>
Number of % of Mortgage
Range of Mortgage Pool by
Principal Balances Loans Principal Balance Principal Balance
- ------------------------------------ -------- -------------------- -----------------
<S> <C> <C> <C>
$ 0.00- 49,999.99 . . . . . 4 $ 98,475.94 0.06%
$ 60,000.00- 74,999.99 . . . . . 1 62,249.98 0.04
$ 75,000.00- 99,999.99 . . . . . 19 1,783,392.54 1.10
$ 100,000.00- 149,999.99 . . . . 58 7,220,918.41 4.46
$ 150,000.00- 199,999.99 . . . . 39 6,867,205.42 4.24
$ 200,000.00- 249,999.99 . . . . 49 10,982,514.83 6.78
$ 250,000.00- 299,999.99 . . . . 23 6,301,991.65 3.89
$ 300,000.00- 349,999.99 . . . . 29 9,182,449.35 5.67
$ 350,000.00- 399,999.99 . . . . 13 4,776,004.72 2.95
$ 400,000.00- 449,999.99 . . . . 12 4,968,942.84 3.07
$ 450,000.00- 499,999.99 . . . . 12 5,660,272.59 3.50
$ 500,000.00- 549,999.00 . . . . 10 5,164,306.51 3.19
$ 550,000.00- 599,999.99 . . . . 5 2,853,000.00 1.76
$ 600,000.00- 649,999.99 . . . . 7 4,372,679.56 2.70
$ 650,000.00- 699,999.99 . . . . 7 4,759,825.20 2.94
$ 700,000.00- 749,999.99 . . . . 5 3,655,739.45 2.26
$ 750,000.00- 799,999.99 . . . . 4 3,147,875.38 1.94
$ 800,000.00- 849,999.99 . . . . 3 2,511,739.69 1.55
$ 850,000.00- 899,999.99 . . . . 5 4,409,149.36 2.72
$ 900,000.00- 949,999.99 . . . . 5 4,659,703.06 2.88
$ 950,000.00- 999,999.99 . . . . 5 4,873,242.94 3.01
$ 1,000,000.00- 1,099,999.99 . . . 8 8,184,987.02 5.05
$ 1,100,000.00- 1,199,999.99 . . . 5 5,659,136.49 3.49
$ 1,200,000.00- 1,299,999.99 . . . 3 3,710,000.00 2.29
$ 1,300,000.00- 1,399,999.99 . . . 3 4,049,058.32 2.50
$ 1,400,000.00- 1,499,999.99 . . . 2 2,959,120.27 1.83
$ 1,500,000.00- 1,599,999.99 . . . 1 1,599,998.99 0.99
$ 1,600,000.00- 1,699,999.99 . . . 1 1,699,909.82 1.05
$ 1,700,000.00- 1,799,999.99 . . . 1 1,740,000.00 1.07
$ 1,900,000.00- 1,999,999.99 . . . 2 3,975,122.81 2.45
$ 2,000,000.00- 2,099,999.99 . . . 5 10,149,999.99 6.28
$ 2,200,000.00- 2,299,999.99 . . . 1 2,299,634.29 1.42
$ 2,500,000.00- 2,599,999.99 . . . 1 2,500,000.00 1.54
$ 2,600,000.00- 2,699,999.99 . . . 2 5,200,000.00 3.21
$ 2,700,000.00- 2,799,999.99 . . . 1 2,745,000.00 1.70
$3,000,000.00 or Higher . . . . . . . 2 7,149,999.00 4.42
--- --------------- -------
TOTALS . . . . 353 $161,933,646.42 100.00%
=== =============== =======
</TABLE>
<TABLE>
MARGINS IN LOAN GROUP 1 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% 4 $ 4,235,494.67 2.62%
-0.125% 5 4,022,044.35 2.48%
0.000% 21 11,982,699.86 7.40%
0.125% 2 1,159,993.24 0.72%
0.250% 16 3,468,222.96 2.14%
0.500% 24 3,134,383.35 1.94%
0.750% 5 611,712.42 0.38%
0.875% 1 880,000.00 0.54%
1.125% 1 872,690.16 0.54%
1.250% 2 670,991.74 0.41%
1.500% 24 34,666,306.51 21.41%
1.625% 25 17,957,057.35 11.09%
1.750% 69 39,203,803.16 24.20%
1.875% 12 8,789,732.11 5.43%
2.000% 47 14,785,186.00 9.13%
2.125% 1 230,000.00 0.14%
2.250% 72 12,110,928.23 7.48%
2.375% 2 301,816.33 0.19%
2.500% 20 2,850,583.98 1.76%
--- --------------- -------
TOTALS 353 $161,933,646.42 100.00%
=== =============== =======
</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 0.875%, 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>
RANGE OF PRINCIPAL BALANCES FOR LOAN GROUP 2 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 . . . . . . . . . . . . 2 $ 20,020.76 0.02%
$ 60,000.00- 74,999.99 . . . . . . . 1 72,000.00 0.07
$ 75,000.00- 99,999.99 . . . . . . . 15 1,388,206.22 1.31
$ 100,000.00- 149,999.99 . . . . . . 36 4,409,830.67 4.15
$ 150,000.00- 199,999.99 . . . . . . 30 5,306,738.04 5.00
$ 200,000.00- 249,999.99 . . . . . . 27 5,872,190.03 5.54
$ 250,000.00- 299,999.99 . . . . . . 20 5,577,514.50 5.25
$ 300,000.00- 349,999.99 . . . . . . 18 5,640,149.09 5.31
$ 350,000.00- 399,999.99 . . . . . . 11 4,132,795.69 3.89
$ 400,000.00- 449,999.99 . . . . . . 12 5,021,248.20 4.73
$ 450,000.00- 499,999.99 . . . . . . 8 3,769,997.68 3.55
$ 500,000.00- 549,999.99 . . . . . . 4 2,086,936.92 1.97
$ 550,000.00- 599,999.99 . . . . . . 5 2,888,516.44 2.72
$ 600,000.00- 649,999.99 . . . . . . 6 3,635,020.65 3.42
$ 650,000.00- 699,999.99 . . . . . . 4 2,682,959.75 2.53
$ 700,000.00- 749,999.99 . . . . . . 6 4,321,586.60 4.07
$ 750,000.00- 799,999.99 . . . . . . 4 3,090,144.23 2.91
$ 800,000.00- 849,999.99 . . . . . . 4 3,262,000.00 3.07
$ 850,000.00- 899,999.99 . . . . . . 5 4,366,000.00 4.11
$ 900,000.00- 949,999.99 . . . . . . 1 937,485.56 0.88
$ 950,000.00- 999,999.99 . . . . . . 3 2,991,597.76 2.82
$ 1,000,000.00- 1,099,999.99 . . . . . 3 3,000,000.00 2.83
$ 1,100,000.00- 1,199,999.99 . . . . . 3 3,415,999.99 3.22
$ 1,200,000.00- 1,299,999.99 . . . . . 2 2,525,000.00 2.38
$ 1,400,000.00- 1,499,999.99 . . . . . 4 5,866,215.88 5.53
$ 1,500,000.00- 1,599,999.99 . . . . . 2 3,092,500.00 2.91
$ 1,800,000.00- 1,899,999.99 . . . . . 3 5,494,999.94 5.18
$ 1,900,000.00- 1,999,999.99 . . . . . 1 1,900,000.00 1.79
$ 2,200,000.00- 2,299,999.99 . . . . . 2 4,450,000.00 4.19
$ 2,400,000.00- 2,499,999.99 . . . . . 2 4,939,998.98 4.65
---- --------------- -------
TOTALS . . . . . . . 244 $106,157,653.58 100.00%
==== =============== =======
</TABLE>
<TABLE>
MARGINS IN LOAN GROUP 2 AS OF DECEMBER 31, 1996
<CAPTION>
% of Mortgage
Number of Pool by
Margin/(1)/ Mortgage Loans Principal Balance Principal Balance
- -------------- -------------- --------------------- --------------------
<S> <C> <C> <C>
- -0.375% 1 $ 262,000.00 0.25%
0.000% 3 1,798,557.48 1.69
0.125% 4 1,320,840.20 1.24
0.250% 1 550,000.00 0.52
0.375% 5 1,262,949.88 1.19
0.500% 1 155,857.68 0.15
0.625% 8 1,041,361.24 0.98
0.750% 1 83,987.08 0.08
0.875% 3 480,499.80 0.45
1.000% 2 1,645,000.00 1.55
1.125% 2 1,098,000.00 1.03
1.250% 2 1,237,055.52 1.17
1.500% 1 568,000.00 0.54
1.625% 11 13,360,740.41 12.59
1.750% 20 15,145,105.71 14.27
1.875% 54 25,890,898.16 24.38
2.000% 20 18,957,861.52 17.86
2.125% 41 10,546,658.98 9.93
2.250% 5 1,233,786.40 1.16
2.375% 47 6,684,270.17 6.30
2.500%(2) 2 660,000.00 0.62
2.500% 2 1,138,256.26 1.07
2.625% 7 827,488.32 0.78
3.000%(2) 1 208,478.77 0.20
---- --------------- -------
TOTALS 244 $106,157,653.58 100.00%
==== =============== =======
</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 1.000%, in which case it is added to
the applicable Six-Month LIBOR Index. Notwithstanding the foregoing,
each Mortgage Rate for a Group 2 Loan will not exceed its Maximum
Mortgage Rate and is subject to its periodic cap.
(2) The Margin is added to the applicable Treasury Index to arrive at the
Mortgage Rate. Notwithstanding the foregoing, each Mortgage Rate for a
Group 2 Loan will not exceed its Maximum Mortgage Rate and is subject to
its periodic cap.
____________________
The date of this Supplement is March 31, 1997.
