Registration No. 33-84894
Rule 424(b)(3)
SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED OCTOBER 26, 1995
MLCC MORTGAGE INVESTORS, INC., Seller
ML Home Equity Loan Pass-Through Certificates,
Series 1995-2, Class A
MERRILL LYNCH CREDIT CORPORATION
Servicer
On October 31, 1995, the ML Home Equity Loan Trust 1995-2 (the "Trust")
issued the ML Home Equity Loan Pass-Through Certificates, Series 1995-2 (the
"Certificates") in an original aggregate principal amount of approximately
$376,876,403. Each Certificate represented an undivided interest in the Trust
created pursuant to a Pooling and Servicing Agreement dated as of October 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
page S-30 of the Prospectus Supplement are hereby updated, in their entirety,
as follows:
<PAGE>
<TABLE>
<CAPTION>
MLCC Mortgage Loan Delinquency Experience
(Dollars in Thousands)
As of December 31,
----------------------------------------------------------------------------------
1993 1994 1995 1996 1997 1998
------------ ----------- ----------- ----------- ------------ -------------
<S> <C> <C> <C> <C> <C> <C>
Number of revolving credit
line loans serviced........ 13,839 15,598 25,056 28,368 31,395 30,571
Aggregate loan balance of
revolving credit line
loans serviced............. $1,037,427 $ 1,079,693 $1,293,483 $1,353,800 $1,387,217 $1,191,938
Loan balance of revolving
credit line loans 2 months
delinquent................. $ 5,161 $ 5,358 $ 8,447 $ 8,292 $ 5,450 $ 6,634
Loan balance of revolving
credit line loans 3 months
or more delinquent......... $ 17,508 $ 22,989 $ 33,763 $ 39,508 $ 44,104 $ 31,348
Total of 2 months or more
delinquent as a percentage
of aggregate loan balance
of
revolving credit line loans 2.19% 2.63% 3.26% 3.53% 3.57% 3.19%
</TABLE>
<TABLE>
<CAPTION>
MLCC Mortgage Loan Loss Experience
(Dollars in Thousands)
As of December 31,
----------------------------------------------------------------------------------
1993 1994 1995 1996 1997 1998
------------ ----------- ------------ ----------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
Number of revolving credit 13,839 15,598 25,056 28,368 31,395 30,571
line loans serviced........
Aggregate loan balance of $1,037,427 $1,079,693 $1,293,483 $1,353,800 $1,387,217 1,191,938
revolving credit line
loans serviced.............
For the Period: $ 3,153 $ 1,118 $ 3,700 $ 1,860 $ 4,269 $ 2,756
Gross Charge-offs
dollars..................
Percentage(1).............. 0.30% 0.10% 0.29% 0.14% 0.31% 0.23%
- -------------
(1) As a percentage of aggregate balance of revolving credit line loans serviced.
</TABLE>
Additionally, the information contained in the table entitled "Cut-off
Date Trust Balances of Mortgage Loans" under the heading "The Mortgage Loan
Pool--The Mortgage Loans" on page S-21 of the Prospectus Supplement is hereby
updated to indicate, as of December 31, 1998, the Loan Balances of the Mortgage
Loans:
<PAGE>
<TABLE>
<CAPTION>
Trust Balances of Mortgage Loans as of December 31, 1998
Range of Trust Balances Number of Trust % of Pool
Mortgage Balance by Trust
Loans Balance
- ----------------------------------------------- -------------------- ------------------------- -------------------
<S> <C> <C> <C>
$ 4,999.99 or Lower......................... 734 $ 1,583,720.99 2.42%
$ 5,000.00- 9,999.99.............. 373 2,726,141.70 4.17%
$ 10,000.00- 14,999.99.............. 241 2,944,146.62 4.50%
$ 15,000.00- 19,999.99.............. 152 2,666,782.32 4.08%
$ 20,000.00- 24,999.99.............. 116 2,605,695.07 3.99%
$ 25,000.00- 29,999.99.............. 94 2,581,037.37 3.95%
$ 30,000.00- 34,999.99.............. 76 2,447,116.44 3.74%
$ 35,000.00- 39,999.99.............. 73 2,725,116.97 4.17%
$ 40,000.00- 44,999.99.............. 64 2,701,046.32 4.13%
$ 45,000.00- 49,999.99.............. 49 2,338,025.60 3.58%
$ 50,000.00- 54,999.99.............. 35 1,809,789.21 2.77%
$ 55,000.00- 59,999.99.............. 29 1,661,825.12 2.54%
$ 60,000.00- 64,999.99.............. 24 1,502,378.45 2.30%
$ 65,000.00- 69,999.99.............. 24 1,622,735.28 2.48%
$ 70,000.00- 74,999.99.............. 23 1,670,407.89 2.56%
$ 75,000.00- 99,999.99.............. 57 4,770,190.50 7.30%
$ 100,000.00- 149,999.99.............. 70 8,427,851.11 12.88%
$ 150,000.00- 199,999.99.............. 26 4,629,283.47 7.08%
$ 200,000.00- 249,999.99.............. 13 2,837,470.53 4.34%
$ 250,000.00- 299,999.99.............. 9 2,472,827.62 3.78%
$ 300,000.00- 349,999.99.............. 7 2,259,553.52 3.46%
$ 350,000.00- 399,999.99.............. 3 1,142,024.53 1.75%
$ 400,000.00- 449,999.99.............. 2 848,075.39 1.30%
$ 500,000.00- 549,999.99.............. 1 549,584.25 0.84%
$ 650,000.00- 699,999.99.............. 1 684,599.81 1.05%
$ 700,000.00- 749,999.99.............. 1 749,520.23 1.15%
$ 950,000.00- 999,999.99.............. 1 963,370.66 1.47%
$1,400,000.00- 1,499,999.99.............. 1 1,452,146.25 2.22%
-------------------- ----------------- -------------------
TOTALS.................... 2,299 $ 65,372,463.22 100.00%
-------------------- ----------------- -------------------
</TABLE>
--------------------
The date of this Supplement is April 1, 1999.
