Registration No. 33-42231
Rule 424(b)(3)
PROSPECTUS SUPPLEMENT TO PROSPECTUS DATED SEPTEMBER 24, 1991
ML Home Equity Loan Asset Backed Certificates,
Series 1991-2, Class A-1, Class A-2 and Class B
MERRILL LYNCH CREDIT CORPORATION
Servicer
MERRILL LYNCH HOME EQUITY ACCEPTANCE, INC.
Seller
On September 27, 1991, the ML Home Equity Loan Trust 1991-2 (the
"Trust") issued the ML Home Equity Loan Asset Backed Certificates, Series
1991-2 in an original aggregate principal amount of $619,035,042. Each
Certificate represented an undivided interest in the Trust created pursuant
to a Pooling and Servicing Agreement dated as of September 1, 1991 by and
among Merrill Lynch Home Equity Acceptance, Inc., as seller, Merrill Lynch
Credit Corporation ("MLCC"), as servicer, and Bankers Trust Company of
California, N.A., as trustee. This Prospectus Supplement to the
above-referenced Prospectus (the "Prospectus") supplements and updates
certain of the information set forth in the Prospectus. Capitalized terms
not defined herein have the meanings ascribed to them in the Prospectus.
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 21 of the Prospectus are hereby updated, in their
entirety, as follows:
<TABLE>
MORTGAGE LOAN DELINQUENCY EXPERIENCE
(DOLLARS IN THOUSANDS)
<CAPTION>
As of December 31,
------------------------------------------------------------------------------------
1991 1992 1993 1994 1995 1996
----- -------- --------- ------- --------- ------------
<S> <C> <C> <C> <C> <C> <C>
Number of revolving credit
line loans serviced . . . . . . 15,913 15,084 13,839 15,598 25,056 28,368
Aggregate loan balance of
revolving credit line
loans serviced . . . . . . . . $1,073,492 $1,062,930 $1,037,427 $1,079,693 $1,293,483 $1,353,800
Loan balance of revolving
credit line loans 2 months
delinquent . . . . . . . . . . $ 2,250 $ 3,717 $ 5,161 $ 5,358 $ 8,447 $ 8,292
Loan balance of revolving
credit line loans 3 months
or more delinquent . . . . . . $ 22,361 $ 18,751 $ 17,508 $ 22,989 $ 33,763 $ 39,508
Total of 2 months or more
delinquent as a percentage
of aggregate loan balance of
revolving credit line loans . . 2.29% 2.11% 2.19% 2.63% 3.26% 3.53%
</TABLE>
<TABLE>
MORTGAGE LOAN LOSS EXPERIENCE
(DOLLARS IN THOUSANDS)
<CAPTION>
As of December 31,
---------------------------------------------------------------------------------------
1991 1992 1993 1994 1995 1996
---------- --------- ---------- ----------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C>
Number of revolving credit
line loans serviced . . . . . . 15,913 15,084 13,839 15,598 25,056 28,368
Aggregate loan balance of
revolving credit line
loans serviced . . . . . . . . $1,073,492 $1,062,930 $1,037,427 $1,079,693 $1,293,483 $1,353,800
For the Period:
Gross Charge-offs
dollars . . . . . . . . . . . $ 936 $ 1,447 $ 3,153 $ 1,118 $ 3,700 $ 1,860
Percentage(1) 0.09% 0.14% 0.30% 0.10% 0.29% 0.14%
</TABLE>
__________________________
(1) As a percentage of aggregate balance of revolving credit line loans
serviced.
Additionally, the information contained in the table entitled "Cut-Off
Date Loan Balances" under the heading "The Mortgage Loan Pool" on page 23 of
the Prospectus is hereby updated to indicate, as of December 31, 1996, the
Loan Balances of the Mortgage Loans:
<TABLE>
LOAN BALANCES AS OF DECEMBER 31, 1996
<CAPTION>
Number of % of Pool
Mortgage Loan by Loan
Range of Loan Balances Loans Balance Balance
<S> <C> <C>
$ 4,999.99 or Lower . . . . . . 141 $ 347,210.37 0.37%
$ 5,000.00- 9,999.99 . . . . . 141 1,062,799.86 1.15
$ 10,000.00- 14,999.99 . . . . . 133 1,692,231.84 1.83
$ 15,000.00- 19,999.99 . . . . . 117 2,060,664.73 2.22
$ 20,000.00- 24,999.99 . . . . . 98 2,197,239.91 2.37
$ 25,000.00- 29,999.99 . . . . . 104 2,879,003.33 3.11
$ 30,000.00- 34,999.99 . . . . . 61 1,959,358.70 2.11
$ 35,000.00- 39,999.99 . . . . . 64 2,398,533.98 2.59
$ 40,000.00- 44,999.99 . . . . . 55 2,343,551.74 2.53
$ 45,000.00- 49,999.99 . . . . . 57 2,726,570.71 2.94
$ 50,000.00- 54,999.99 . . . . . 47 2,460,992.51 2.65
$ 55,000.00- 59,999.99 . . . . . 35 2,014,078.35 2.17
$ 60,000.00- 64,999.99 . . . . . 30 1,859,483.19 2.01
$ 65,000.00- 69,999.99 . . . . . 20 1,358,569.08 1.47
$ 70,000.00- 74,999.99 . . . . . 32 2,317,057.80 2.50
$ 75,000.00- 99,999.99 . . . . . 120 10,460,185.59 11.28
$ 100,000.00- 149,999.99 . . . . 111 13,673,176.73 14.75
$ 150,000.00- 199,999.99 . . . . 53 9,266,985.96 10.00
$ 200,000.00- 249,999.99 . . . . 25 5,700,994.04 6.15
$ 250,000.00- 299,999.99 . . . . 27 7,410,005.53 7.99
$ 300,000.00- 349,999.99 . . . . 11 3,611,053.14 3.89
$ 350,000.00- 399,999.99 . . . . 7 2,595,220.11 2.80
$ 400,000.00- 449,999.99 . . . . 5 2,166,544.96 2.34
$ 450,000.00- 499,999.99 . . . . 2 959,013.50 1.03
$ 550,000.00- 599,999.99 . . . . 1 595,903.46 0.64
$ 600,000.00- 649,999.99 . . . . 1 646,531.29 0.70
$ 650,000.00- 699,999.99 . . . . 2 1,320,568.01 1.42
$ 750,000.00- 799,999.99 . . . . 2 1,579,862.17 1.70
$1,000,000.00- 1,099,999.99 . . . 3 3,050,799.00 3.29
------ --------------- -------
TOTALS . . . . . . 1,505 $92,714,189.59 100.00%
====== =============== =======
</TABLE>
___________________________
The date of this Prospectus Supplement is March 31, 1997.
