Registration No. 33-84894
Rule 424(b)(3)
SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED MARCH 24, 1995
MLCC Mortgage Investors, Inc., Seller
ML Home Equity Loan Pass-Through Certificates,
Series 1995-1, Class A-1 and Class A-2
MERRILL LYNCH CREDIT CORPORATION
Servicer
On March 30, 1995, the ML Home Equity Loan Trust 1995-1 (the "Trust")
issued the ML Home Equity Loan Pass-Through Certificates, Series 1995-1 (the
"Certificates") in an original aggregate principal amount of $331,554,000.
Each Certificate represented an undivided interest in the Trust created
pursuant to a Pooling and Servicing Agreement dated as of March 1, 1995 by and
among MLCC Mortgage Investors, Inc., as seller, Merrill Lynch Credit
Corporation, as 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 Equity Access Program--Delinquency and Loan Loss
Experience" on pages S-38 and S-39 of the Prospectus Supplement are hereby
updated, in their entirety, as follows:
<PAGE>
MLCC Mortgage Loan Delinquency Experience
(Dollars in Thousands)
<TABLE>
<CAPTION>
As of December 31,
----------------------------------------------------------------------------------
1994 1995 1996 1997 1998 1999
------------ ----------- ------------ ----------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
Number of revolving credit
line loans serviced........ 15,598 25,056 28,368 31,395 30,571 31,517
Aggregate loan balance of
revolving credit line
loans serviced............. $1,079,693 $ 1,293,483 $1,353,800 $1,387,217 $1,191,938 $1,202,594
Loan balance of revolving
credit line loans 2 months
delinquent................. $ 5,358 $ 8,447 $ 8,292 $ 5,450 $ 6,634 $ 6,427
Loan balance of revolving
credit line loans 3 months
or more delinquent......... $ 22,989 $ 33,763 $ 39,508 $ 44,104 $ 31,348 $ 22,863
Total of 2 months or more
delinquent as a percentage
of aggregate loan balance of
revolving credit line loans 2.63% 3.26% 3.53% 3.57% 3.19% 2.44%
</TABLE>
MLCC Mortgage Loan Loss Experience
(Dollars in Thousands)
<TABLE>
<CAPTION>
As of December 31,
----------------------------------------------------------------------------------
1994 1995 1996 1997 1998 1999
------------ ----------- ------------ ----------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
Number of revolving credit
line loans serviced........ 15,598 25,056 28,368 31,395 30,571 31,517
Aggregate loan balance of
revolving credit line
loans serviced............. $1,079,693 $1,293,483 $1,353,800 $1,387,217 $ 1,191,938 $ 1,202,594
For the Period:
Gross Charge-offs
dollars.................. $ 1,118 $ 3,700 $ 1,860 $ 4,269 $ 2,756 $ 4,445
Percentage(1).............. 0.10% 0.29% 0.14% 0.31% 0.23% 0.37%
</TABLE>
- -------------
(1) As a percentage of aggregate balance of revolving credit line
loans serviced.
The information contained in the tables set forth after the second
paragraph under the heading "MLCC and its Equity Access Program--Delinquency
and Loan Loss Experience" on page S-40 of the Prospectus Supplement are hereby
updated in their entirety as follows:
<PAGE>
Dime Portfolio Delinquency Experience
(Dollars in Thousands)
<TABLE>
<CAPTION>
As of December 31,
------------------------------------------------------------
1996 1997 1998 1999
----------- ----------- -------------- ---------------
<S> <C> <C> <C> <C>
Number of revolving credit line loans
serviced................................. 3,356 2,758 2,043 1318
Aggregate loan balance of revolving credit
line loans serviced........................ $ 163,241 $ 128,391 $86,179 $58,306
Loan balance of revolving credit line loans
2 months delinquent........................ $ 1,039.34 $808.73 $ 2,307 $ 1,855.08
Loan balance of revolving credit line loans
3 months or more delinquent................ $ 3,145.08 $3,588.65 $ 2,918 $ 2,833.69
Total of 2 months or more delinquent as a
Percentage of aggregate loan balance of
Revolving credit line loans................ 2.56% 3.42% 6.06% 8.04%
</TABLE>
Dime Portfolio Loss Experience
(Dollars in Thousands)
<TABLE>
<CAPTION>
As of December 31,
------------------------------------------------------------
<S> <C> <C> <C> <C>
1996 1997 1998 1999
----------- ----------- -------------- ---------------
As of end of Period:
Number of revolving credit line loans
Serviced................................ 3,356 2,758 2,043 1.318
Aggregate loan balance of revolving
credit
line loans serviced..................... $163,241 $128,391 $86,179 $58,306
For the Period:
Gross charge-offs dollars................ $ 327 $ 130 $ 174 $ 324
Percentage(1)............................ 0.20% 0.10% 0.20% 0.56%
- --------------
(1) As a percentage of aggregate balance of Mortgage Loans serviced.
</TABLE>
Additionally, the information contained in the tables entitled (a)
"Cut-Off Date Trust Balances of MLCC Mortgage Loans" under the heading "The
Mortgage Loan Pool--The MLCC Mortgage Loans" on page S-26 of the Prospectus
Supplement and (b) "Cut-off Date Trust Balances of Dime Mortgage Loans" under
the heading "The Mortgage Loan Pool--The Dime Mortgage Loans" on page S-31 of
the Prospectus Supplement are hereby updated to indicate, as of December 31,
1999, the Loan Balances of the Mortgage Loans:
<PAGE>
<TABLE>
<CAPTION>
Trust Balances of MLCC Mortgage Loans as of December 31, 1999
Number of % of MLCC Mortgage Loans
Range of Trust Balances Mortgage Loans Trust Balance by Trust Balance
- ----------------------------- -------------- -------------- ------------------------
<S> <C> <C> <C>
4,999.99 Or lower 217 $ 515,196.94 1.41%
5,000-9,999.99 104 735,957.97 2.02%
10,000-14,999.99 66 807,496.43 2.22%
15,000-19,999.99 50 882,558.63 2.42%
20,000-24,999.99 42 941,791.44 2.58%
25,000-29,999.99 53 1,445,250.32 3.96%
30,000-34,999.99 28 912,112.21 2.50%
35,000-39,999.99 32 1,208,218.26 3.31%
40,000-44,999.99 19 809,053.01 2.22%
45,000-49,999.99 24 1,156,968.42 3.17%
50,000-54,999.99 20 1,040,117.86 2.85%
5,5000-5,9999.99 18 1,037,236.83 2.85%
6,0000-6,4999.99 8 498,461.28 1.37%
6,5000-6,9999.99 7 468,494.29 1.29%
70,000-74,999.99 14 1,008,962.36 2.77%
75,000-99,999.99 38 3,383,895.22 9.28%
100,000-149,999.99 34 4,116,528.31 11.29%
150,000-199,999.99 16 2,839,093.19 7.79%
200,000-249,999.99 6 1,303,508.60 3.58%
250,000-299,999.99 4 1,138,111.36 3.12%
300,000-349,999.99 6 1,903,652.40 5.22%
350,000-399,999.99 1 354,729.08 0.97%
400,000-449,999.99 3 1,251,635.50 3.43%
500,000-549,999.99 2 1,001,274.25 2.75%
600,000-649,999.99 1 637,954.14 1.75%
2,200,000-2,299,999.99 1 2,292,215.80 6.29%
2,700,000-2,799,999.99 1 2,760,706.10 7.57%
-------------- --------------- ------------------------
TOTALS 815 $ 36,451,180.20 100.00%
============== =============== ========================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Trust Balances of Dime Mortgage Loans as of December 31, 1999
Number of % of Dime Mortgage Loans
Range of Trust Balances Mortgage loans Trust Balance by Trust Balance
- ----------------------------- ------------------ ------------------ ------------------------
<S> <C> <C> <C>
$4,999.99 Or lower 167 $ 354,000.94 15.75%
5,000-9999.99 60 399,215.66 17.76%
10,000-14,999.99 28 332,678.13 14.80%
15,000-1,999.99 16 271,757.62 12.09%
20,000-24,999.99 8 173,053.55 7.70%
25,000-29,999.99 3 76,314.66 3.39%
30,000-34,999.99 3 98,313.34 4.37%
35,000-39,999.99 1 37,910.25 1.69%
40,000-44,999.99 3 126,381.90 5.62%
45,000-49,999.99 2 95,290.72 4.24%
50,000-54,999.99 1 50,740.02 2.26%
100,000-149,999.99 2 232,566.24 10.34%
------------------ ------------------ ------------------------
TOTALS 294 $ 2,248,223.03 100.00%
================== ================== ========================
</TABLE>
--------------------
The date of this Supplement is March 31, 2000.
