Registration No. 33-57024
Rule 424(b)(3)
PROSPECTUS SUPPLEMENT TO PROSPECTUS DATED FEBRUARY 23, 1993
ML Home Equity Loan Asset Backed Certificates,
Series 1993-1, Class A and Class B
MERRILL LYNCH CREDIT CORPORATION
Servicer
MERRILL LYNCH HOME EQUITY ACCEPTANCE, INC.
Seller
_____________________________________________________________________________
On February 26, 1993, the ML Home Equity Loan Trust 1993-1 (the "Trust")
issued the ML Home Equity Loan Asset Backed Certificates, Series 1993-1 in an
original aggregate principal amount of $303,380,000. Each Certificate
represented an undivided interest in the Trust created pursuant to a Pooling
and Servicing Agreement dated as of February 1, 1993 by and among Merrill
Lynch Home Equity Acceptance, Inc., as seller, Merrill Lynch Credit
Corporation, 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 22 of the Prospectus are hereby updated, in their
entirety, as follows:
1993-1
MORTGAGE LOAN DELINQUENCY EXPERIENCE
(DOLLARS IN THOUSANDS)
<TABLE>
<CAPTION>
--------------------------------------------------------------------------
1992 1993 1994 1995 1996 1997
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Number of Revolving
Credit Line Loans
Serviced . . . . . . 15,084 13,839 15,598 25,056 28,368 31,395
Aggregate Loan Balance
of Revolving Credit
Line Loans Serviced . $1,062,930 $1,037,427 $1,079,693 $1,293,483 $1,353,800 $1,387,217
Loan Balance of
Revolving Credit Line
Loans 2 Mos.
Delinquent. . . . . . $ 3,717 $ 5,161 $ 5,358 $ 8,447 $ 8,292 $ 5,450
Loan Balance of
Revolving Credit
line Loans 3 Mos.
or more Delinquent. . $ 18,751 $ 17,508 $ 22,989 $ 33,763 $ 39,508 $ 44,104
Total of 2 Months or
more Delinquent as a
Percentage of
Aggregate
Loan Balance of
Revolving
Credit Line Loans
Serviced. . . . . . . 2.11% 2.19% 2.63% 3.26% 3.53% 3.57%
</TABLE>
MORTGAGE LOAN LOSS EXPERIENCE
(DOLLARS IN THOUSANDS)
<TABLE>
<CAPTION>
-------------------------------------------------------------------------
1992 1993 1994 1995 1996 1997
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
As of end of Period:
Number of Revolving
Credit Line Loans
Serviced . . . . . . . 15,084 13,839 15,598 25,056 28,368 31,395
Aggregate Loan Balance
of Revolving Credit
Line Loans Serviced . . $1,062,930 $1,037,427 $1,079,693 $1,293,483 1,353,800 $1,387,217
For the Period:
Gross Charge Offs
Dollars . . . . . . . $ 1,447 $ 3,153 $ 1,118 $ 3,700 $ 1,860 $ 4,269
Percentage(1) . . . . 0.14% 0.30% 0.10% 0.29% 0.14% 0.31%
</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 Trust Balances" under the heading "The Mortgage Loan Pool" on page 25 of
the Prospectus are hereby updated to indicate, as of December 31, 1997, the
Loan Balances of the Mortgage Loans:
1993-1
LOAN BALANCES AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
Number of % of Pool
Mortgage Trust by Trust
Range of Trust Balances Loans Balance Balance
- -------------------------------------------- ----------- --------------- ----------
<S> <C> <C> <C>
$ 4,999.99 or Lower. . . . . . . . . . . . 39 $ 76,793.74 0.19%
$ 5,000.00- 9,999.99 . . . . . . . . . 73 539,478.06 1.34
$ 10,000.00- 14,999.99 . . . . . . . . . 61 746,526.78 1.86
$ 15,000.00- 19,999.99 . . . . . . . . . 49 841,025.84 2.09
$ 20,000.00- 24,999.99 . . . . . . . . . 34 775,476.55 1.93
$ 25,000.00- 29,999.99 . . . . . . . . . 26 725,372.32 1.81
$ 30,000.00- 34,999.99 . . . . . . . . . 31 1,002,153.04 2.50
$ 35,000.00- 39,999.99 . . . . . . . . . 19 710,472.13 1.77
$ 40,000.00- 44,999.99 . . . . . . . . . 23 983,407.28 2.45
$ 45,000.00- 49,999.99 . . . . . . . . . 20 953,121.21 2.37
$ 50,000.00- 54,999.99 . . . . . . . . . 19 973,079.42 2.42
$ 55,000.00- 59,999.99 . . . . . . . . . 16 924,582.99 2.30
$ 60,000.00- 64,999.99 . . . . . . . . . 16 1,001,874.30 2.49
$ 65,000.00- 69,999.99 . . . . . . . . . 6 396,948.27 0.99
$ 70,000.00- 74,999.99 . . . . . . . . . 7 513,427.26 1.28
$ 75,000.00- 99,999.99 . . . . . . . . . 40 3,437,529.28 8.56
$ 100,000.00- 149,999.99 . . . . . . . . . 42 5,062,889.66 12.60
$ 150,000.00- 199,999.99 . . . . . . . . . 22 3,829,892.04 9.54
$ 200,000.00- 249,999.99 . . . . . . . . . 13 3,017,340.31 7.51
$ 250,000.00- 299,999.99 . . . . . . . . . 7 2,015,203.41 5.02
$ 300,000.00- 349,999.99 . . . . . . . . . 12 3,946,329.83 9.83
$ 350,000.00- 399,999.99 . . . . . . . . . 1 368,164.84 0.92
$ 400,000.00- 449,999.99 . . . . . . . . . 1 400,228.72 1.00
$ 450,000.00- 499,999.99 . . . . . . . . . 2 956,239.63 2.38
$ 500,000.00- 549,999.99 . . . . . . . . . 2 1,040,313.24 2.59
$ 550,000.00- 599,999.99 . . . . . . . . . 2 1,160,814.15 2.89
$ 600,000.00- 649,999.99 . . . . . . . . . 1 623,494.77 1.55
$ 700,000.00- 749,999.99 . . . . . . . . . 1 703,625.77 1.75
$ 900,000.00- 949,999.99 . . . . . . . . . 1 941,372.11 2.34
$1,400,000.00-1,499,999.99 . . . . . . . . . 1 1,497,839.42 3.73
----------- --------------- ----------
TOTALS. . . . . . . . . . . . 587 $40,165,016.37 100.00%
=========== =============== ==========
</TABLE>
___________________________
The date of this Prospectus Supplement is April 13, 1998.
