Registration No. 33-84894
Rule 424(b)(3)
SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED DECEMBER 20, 1994
MLCC Mortgage Investors, Inc., Seller
Senior/Subordinate Mortgage Pass-Through Certificates,
Series 1994B, Class A-1, A-2, A-3 and A-4 (Senior)
MERRILL LYNCH CREDIT CORPORATION
Master Servicer
_________________________________________________________________
On December 28, 1994, the Senior/Subordinate Pass-Through Certificates,
Series 1994B, Class A-1, A-2, A-3 and A-4 (the "Offered Certificates") were
issued in an approximate original aggregate principal amount of $296,641,000.
The Offered Certificates represented beneficial interests in the Trust Fund
created pursuant to a Pooling and Servicing Agreement dated as of December 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-29 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 table entitled "Range of
Cut-Off Date Principal Balances" under the heading "The Mortgage Pool" on
page S-21 of the Prospectus Supplement and the tables entitled "Prime Index
Mortgage Loan Margins" and "LIBOR Mortgage Loan Margins" on page S-24 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 AS 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 $ 140,991.94 0.07%
$ 50,000.00- 54,999.99 . . 4 205,106.70 0.10
$ 55,000.00- 59,999.99 . . 3 172,617.51 0.08
$ 60,000.00- 74,999.99 . . 5 342,247.26 0.16
$ 75,000.00- 99,999.99 . . 34 3,164,209.71 1.49
$ 100,000.00- 149,999.99 . 82 10,091,046.62 4.74
$ 150,000.00- 199,999.99 . 69 11,892,209.82 5.58
$ 200,000.00- 249,999.99 . 63 13,693,358.43 6.40
$ 250,000.00- 299,999.99 . 38 10,432,539.13 4.90
$ 300,000.00- 349,999.99 . 21 6,726,213.12 3.16
$ 350,000.00- 399,999.99 . 25 9,338,091.45 4.39
$ 400,000.00- 449,999.99 . 15 6,371,311.11 2.99
$ 450,000.00- 499,999.99 . 14 6,679,549.44 3.14
$ 500,000.00- 549,999.99 . 9 4,685,116.39 2.20
$ 550,000.00- 599,999.99 . 13 7,505,856.75 3.52
$ 600,000.00- 649,999.99 . 10 6,274,925.44 2.95
$ 650,000.00- 699,999.99 . 11 7,343,784.62 3.45
$ 700,000.00- 749,999.99 . 5 3,661,637.07 1.72
$ 750,000.00- 799,999.99 . 6 4,709,878.60 2.21
$ 800,000.00- 849,999.99 . 4 3,324,801.68 1.56
$ 850,000.00- 899,999.99 . 7 6,088,363.40 2.86
$ 900,000.00- 949,999.99 . 3 2,750,095.64 1.29
$ 950,000.00- 999,999.99 . 4 3,874,400.42 1.82
$ 1,000,000.00- 1,099,999.99 9 9,000,375.32 4.23
$ 1,100,000.00- 1,199,999.99 8 8,999,738.97 4.23
$ 1,200,000.00- 1,299,999.99 9 11,046,064.15 5.19
$ 1,300,000.00- 1,399,999.99 2 2,744,999.97 1.29
$ 1,400,000.00- 1,499,999.99 2 2,865,000.00 1.35
$ 1,500,000.00- 1,599,999.99 5 7,619,999.97 3.58
$ 1,600,000.00- 1,699,999.99 4 6,492,999.96 3.05
$ 1,700,000.00- 1,799,999.99 3 5,284,345.49 2.48
$ 1,900,000.00- 1,999,999.99 3 5,952,802.98 2.80
$ 2,000,000.00- 2,099,999.99 2 4,000,000.00 1.88
$ 2,100,000.00- 2,199,999.99 1 2,100,000.00 0.99
$ 2,400,000.00- 2,499,999.99 1 2,499,661.26 1.17
$ 2,500,000.00- 2,599,999.99 1 2,500,000.00 1.17
$ 2,800,000.00- 2,899,999.99 1 2,850,000.00 1.34
$ 2,900,000.00- 2,999,999.99 1 2,923,903.12 1.37
$3,000,000.00 or Higher . . . . . 2 6,600,000.00 3.10
--- --------------- -------
TOTALS . . 503 $212,948,243.44 100.00%
=== =============== =======
</TABLE>
<TABLE>
PRIME INDEX MORTGAGE LOAN MARGINS AS OF DECEMBER 31, 1996
<CAPTION>
% of Such
Number of Mortgage Loans by
Margin Mortgage Loans Principal Balance Principal Balance
- ------------- --------------- ---------------------- ------------------
<S> <C> <C> <C>
-0.500% 1 $ 315,000.00 1.10%
-0.250% 4 4,650,000.00 16.24
-0.125% 2 778,477.31 2.72
0.000% 20 9,222,306.32 32.20
0.125% 4 2,769,754.17 9.67
0.250% 20 4,581,010.37 16.00
0.375% 2 361,128.19 1.26
0.500% 34 4,484,653.89 15.66
0.625% 1 110,000.00 0.38
0.750% 12 1,296,667.76 4.53
1.000% 1 69,989.21 0.24
---- ---------------- --------
TOTALS 101 $ 28,638,987.22 100.00%
==== ================ ========
</TABLE>
<TABLE>
LIBOR MORTGAGE LOAN MARGINS AS OF DECEMBER 31, 1996
<CAPTION>
% of Such
Number of Mortgage Loans by
Margin Mortgage Loans Principal Balance Principal Balance
- --------------- --------------- ------------------------- ---------------------
<S> <C> <C> <C>
0.875% 1 $ 950,000.00 0.52%
1.000% 5 3,496,318.52 1.90
1.125% 1 899,363.40 0.49
1.250% 5 3,235,832.44 1.76
1.500% 21 28,848,553.28 15.65
1.625% 22 15,344,038.35 8.33
1.750% 75 54,386,286.75 29.49
1.875% 35 21,470,683.54 11.65
2.000% 69 23,573,431.71 12.79
2.125% 8 2,547,839.89 1.38
2.250% 90 19,024,560.07 10.32
2.375% 8 1,866,887.77 1.01
2.500% 50 7,199,008.72 3.91
2.750% 12 1,466,451.78 0.80
------ ---------------- --------
TOTALS 402 $ 184,309,256.22 100.00%
====== ================ ========
</TABLE>
____________________
The date of this Supplement is March 31, 1997.
