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:
1994 B
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>
1994 B
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,
1997, the Mortgage Loan Balances and margins of the Mortgage Loans:
1994 B
RANGE OF PRINCIPAL BALANCES AS OF DECEMBER 31, 1997
<TABLE>
<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 . . 8 $ 260,484.96 0.15%
$ 50,000.00- 54,999.99 . . 1 50,459.07 0.03
$ 55,000.00- 59,999.99 . . 1 56,508.99 0.03
$ 60,000.00- 74,999.99 . . 7 478,578.56 0.28
$ 75,000.00- 99,999.99 . . 40 3,687,775.38 2.13
$ 100,000.00- 149,999.99 . 62 7,765,972.53 4.48
$ 150,000.00- 199,999.99 . 63 11,107,347.18 6.42
$ 200,000.00- 249,999.99 . 48 10,440,263.42 6.02
$ 250,000.00- 299,999.99 . 32 8,725,022.49 5.03
$ 300,000.00- 349,999.99 . 18 5,809,042.73 3.35
$ 350,000.00- 399,999.99 . 22 8,265,158.26 4.77
$ 400,000.00- 449,999.99 . 13 5,550,724.36 3.20
$ 450,000.00- 499,999.99 . 8 3,873,950.35 2.24
$ 500,000.00- 549,999.99 . 7 3,677,652.55 2.12
$ 550,000.00- 599,999.99 . 11 6,394,104.84 3.69
$ 600,000.00- 649,999.99 . 10 6,277,602.57 3.62
$ 650,000.00- 699,999.99 . 9 6,045,730.05 3.49
$ 700,000.00- 749,999.99 . 5 3,631,812.93 2.10
$ 750,000.00- 799,999.99 . 2 1,559,762.55 0.90
$ 800,000.00- 849,999.99 . 3 2,475,000.00 1.43
$ 850,000.00- 899,999.99 . 6 5,188,663.47 2.99
$ 900,000.00- 949,999.99 . 2 1,814,719.58 1.05
$ 950,000.00- 999,999.99 . 4 3,924,397.40 2.26
$ 1,000,000.00- 1,099,999.99 9 9,179,659.60 5.30
$ 1,100,000.00- 1,199,999.99 5 5,744,856.94 3.31
$ 1,200,000.00- 1,299,999.99 6 7,397,003.47 4.27
$ 1,300,000.00- 1,399,999.99 1 1,349,999.97 0.78
$ 1,400,000.00- 1,499,999.99 3 4,364,999.99 2.52
$ 1,500,000.00- 1,599,999.99 3 4,618,901.77 2.67
$ 1,600,000.00- 1,699,999.99 3 4,891,762.58 2.82
$ 1,700,000.00- 1,799,999.99 3 5,284,064.22 3.05
$ 1,900,000.00- 1,999,999.99 2 3,942,386.36 2.27
$ 2,100,000.00- 2,199,999.99 1 2,100,000.00 1.21
$ 2,400,000.00- 2,499,999.99 2 4,998,649.20 2.88
$ 2,800,000.00- 2,899,999.99 1 2,849,999.80 1.64
$ 2,900,000.00- 2,999,999.99 2 5,923,902.93 3.42
$ 3,000,000.00 or Higher . . . 1 3,600,000.00 2.08
----------- -------------------- -----------------
TOTALS . . 424 $173,306,921.05 100.00%
=========== ==================== =================
</TABLE>
1994 B
PRIME INDEX MORTGAGE LOAN MARGINS AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
% of Such
Number of Mortgage Loans by
Margin Mortgage Loans Principal Balance Principal Balance
- ----------------- -------------- ------------------ ------------------
<S> <C> <C> <C>
-0.500% 1 $ 314,999.99 1.46%
-0.250% 4 4,628,921.47 21.41
-0.125% 2 726,957.03 3.36
0.000% 12 5,125,277.95 23.69
0.125% 3 1,970,000.00 9.11
0.250% 17 3,875,852.83 17.92
0.375% 2 360,238.02 1.67
0.500% 27 3,585,169.98 16.58
0.750% 9 967,846.87 4.48
1.000% 1 69,989.21 0.32
-------------- ------------------ ------------------
TOTALS 78 $ 21,625,253.35 100.00%
============== ================== ==================
</TABLE>
LIBOR MORTGAGE LOAN MARGINS AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
% of Such
Number of Mortgage Loans by
Margin Mortgage Loans Principal Balance Principal Balance
- ----------------- -------------- ---------------------- ------------------
<S> <C> <C> <C>
1.000% 5 $ 3,456,947.50 2.28%
1.250% 4 1,635,292.75 1.08
1.500% 18 24,671,062.38 16.27
1.625% 19 12,751,471.36 8.41
1.750% 67 44,638,809.51 29.41
1.875% 25 15,787,893.88 10.41
2.000% 60 19,956,675.97 13.16
2.125% 9 3,227,503.56 2.13
2.250% 83 17,508,272.04 11.54
2.375% 8 1,745,408.78 1.15
2.500% 40 5,292,430.03 3.49
2.750% 8 1,009,899.94 0.67
-------------- ------------------ ------------------
TOTALS 346 $151,681,667.70 100.00%
============== ================== ==================
</TABLE>
____________________
The date of this Supplement is April 13, 1998.
