Registration No. 33-84894
Rule 424 (b)(3)
SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED FEBRUARY 22, 1996
MLCC Mortgage Investors, Inc., Seller
Mortgage Loan Asset Backed Pass-Through Certificates,
Series 1996-A, Class A
MERRILL LYNCH CREDIT CORPORATION
Master Servicer
_____________________________________________________________________________
On February 28, 1996, the Mortgage Loan Asset Backed Pass-Through
Certificates, Series 1996-A, Class A (the "Certificates") were issued in an
approximate original aggregate principal amount of $345,842,681. The
Certificates represented beneficial interests in the Trust Fund created
pursuant to a Pooling and Servicing Agreement dated as of February 1, 1996 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 Programs--Delinquency and Loan Loss
Experience" on pages S-26 and S-27 of the Prospectus Supplement are hereby
updated, in their entirety, as follows:
1996 A
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>
The first two tables set forth after the second paragraph under the
heading "MLCC and its Mortgage Programs--Delinquency and Loan Loss
Experience" on pages S-27 and S-28 of the Prospectus Supplement are hereby
updated, in their entirety, as follows:
1996 A
REVOLVING CREDIT LINE LOAN DELINQUENCY EXPERIENCE
(Dollars in Thousands)
<TABLE>
<CAPTION>
As of December 31,
-------------------------------------------------------------------------
1992 1993 1994 1995 1996 1997
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Number of Revolving
Credit Line (RCL)
Loans Serviced 15,084 13,839 15,598 25,056 28,368 31,395
Aggregate Loan Balance
of RCL Loans $1,387,21
Serviced $1,062,930 $1,037,427 $1,079,693 $ 1,293,483 $1,353,800 7
Loan Balance of
RCL Loans 2 months $
Delinquent $ 3,717 $ 5,161 $ 5,358 $ 8,447 $ 8,292 5,450
Loan Balance of
RCL Loans 3 months $
or more Delinquent $ 18,751 $ 17,508 $ 22,989 $ 33,763 $ 39,508 44,104
Total of 2 months
or more Delinquent
as a % of Loan Balance
of RCL Loans 2.11% 2.19% 2.63% 3.26% 3.53% 3.57%
</TABLE>
REVOLVING CREDIT LINE LOAN LOSS EXPERIENCE
(Dollars in Thousands)
<TABLE>
<CAPTION>
As of December 31,
-------------------------------------------------------------------------
1992 1993 1994 1995 1996 1997
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Number of Revolving
Credit Line (RCL)
Loans Serviced 15,084 13,839 15,598 25,056 28,368 31,395
Aggregate Loan Balance
of RCL 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 tables entitled "Range of
Cut-off Date Principal Balances", "Prime Index Mortgage Loan Margins", "One-
Month LIBOR Index Mortgage Loan Margins", "Six-Month LIBOR Index Mortgage
Loan Margins" and "One-Year Treasury Index Mortgage Loan Margins" under the
heading "The Mortgage Pool" on pages S-18 and S-21 of the Prospectus
Supplement is hereby updated to indicate, as of December 31, 1997, the
Mortgage Loan Balances and Margins of the Mortgage Loans:
1996 A
RANGE OF PRINCIPAL BALANCES AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
% of Mortgage
Range of Number of Pool by
Principal Balances Mortgage Loans Principal Balance Principal Balance
- ------------------------------------------------- -------------- ----------------- -----------------
<S> <C> <C> <C>
$ 0.00- 49,999.99 . . . . . . . . . . 41 $ 1,494,410.64 0.56%
$ 50,000.00- 54,999.99 . . . . . . . . . . 7 370,578.46 0.14
$ 55,000.00- 59,999.99 . . . . . . . . . . 3 170,078.72 0.06
$ 60,000.00- 74,999.99 . . . . . . . . . . 12 805,593.87 0.30
$ 75,000.00- 99,999.99 . . . . . . . . . . 38 3,322,120.89 1.25
$ 100,000.00- 149,999.99 . . . . . . . . . . 96 11,812,900.26 4.43
$ 150,000.00- 199,999.99 . . . . . . . . . . 56 9,772,801.29 3.67
$ 200,000.00- 249,999.99 . . . . . . . . . . 55 12,238.179.14 4.59
$ 250,000.00- 299,999.99 . . . . . . . . . . 47 12,987,786.28 4.87
$ 300,000.00- 349,999.99 . . . . . . . . . . 52 16,586,482.19 6.23
$ 350,000.00- 399,999.99 . . . . . . . . . . 39 14,619,423.92 5.49
$ 400,000.00- 449,999.99 . . . . . . . . . . 23 9,840,404.85 3.69
$ 450,000.00- 499,999.99 . . . . . . . . . . 18 8,436,120.19 3.17
$ 500,000.00- 549,999.99 . . . . . . . . . . 16 8,291,559.89 3.11
$ 550,000.00- 599,999.99 . . . . . . . . . . 7 4,049,729.85 1.52
$ 600,000.00- 649,999.99 . . . . . . . . . . 9 5,474,896.44 2.05
$ 650,000.00- 699,999.99 . . . . . . . . . . 13 8,723,419.71 3.27
$ 700,000.00- 749,999.99 . . . . . . . . . . 11 7,952,563.47 2.98
$ 750,000.00- 799,999.99 . . . . . . . . . . 3 2,320,403.71 0.87
$ 800,000.00- 849,999.99 . . . . . . . . . . 5 4,090,509.53 1.54
$ 850,000.00- 899,999.99 . . . . . . . . . . 4 3,524,540.58 1.32
$ 900,000.00- 949,999.99 . . . . . . . . . . 2 1,840,000.00 0.69
$ 950,000.00- 999,999.99 . . . . . . . . . . 9 8,813,793.97 3.31
$ 1,000,000.00-1,099,999.99 . . . . . . . . . . 21 21,779,998.89 8.21
$ 1,100,000.00-1,199,999.99 . . . . . . . . . . 8 9,030,921.24 3.39
$ 1,200,000.00-1,299,999.99 . . . . . . . . . . 5 6,296,265.36 2.36
$ 1,300,000.00-1,399,999.99 . . . . . . . . . . 3 3,999,999.89 1.50
$ 1,400,000.00-1,499,999.99 . . . . . . . . . . 6 8,608,636.57 3.23
$ 1,500,000.00-1,599,999.99 . . . . . . . . . . 1 1,500,000.00 0.56
$ 1,600,000.00-1,699,999.99 . . . . . . . . . . 3 4,955,000.00 1.86
$ 1,700,000.00-1,799,999.99 . . . . . . . . . . 2 3,450,000.00 1.29
$ 1,800,000.00-1,899,999.99 . . . . . . . . . . 4 7,349,323.12 2.76
$ 2,000,000.00-2,099,999.99 . . . . . . . . . . 5 10,097,500.00 3.79
$ 2,200,000.00-2,299,999.99 . . . . . . . . . . 1 2,240,000.00 0.84
$ 2,300,000.00-2,399,999.99 . . . . . . . . . . 1 2,379,994.21 0.89
$ 2,500,000.00-2,599,999.99 . . . . . . . . . . 3 7,536,639.36 2.83
$ 2,600,000.00-2,699,999.99 . . . . . . . . . . 1 2,662,404.00 1.00
$ 2,700,000.00-2,799,999.99 . . . . . . . . . . 1 2,700,000.00 1.01
$ 3,000,000.00 or Higher . . . . . . . . . . . . 4 14,309,906.60 5.37
-------------- ----------------- -----------------
TOTALS . . . . . . . . . . . . . . . . . . . 635 $266,434,887.09 100.00%
============== ================= =================
</TABLE>
1996 A
PRIME INDEX MORTGAGE LOAN MARGINS AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
% of Such Mortgage Loans
Margin Number of Mortgage Loans Principal Balance by Principal Balance
- ------------------ ------------------------ ------------------ ------------------------
<S> <C> <C> <C>
-0.250% 1 $ 299,869.29 9.32%
0.000% 4 2,424,193.20 75.30
0.250% 3 385,210.00 11.97
0.500% 1 109,647.06 3.41
------------------------ ------------------ ------------------------
TOTALS 9 $3,218,919.55 100.00%
======================== ================== ========================
</TABLE>
1996 A
ONE-MONTH LIBOR MORTGAGE LOAN MARGINS AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
% of Such Mortgage Loans
Margin Number of Mortgage Loans Principal Balance by Principal Balance
- ---------------- ------------------------ ------------------- ------------------------
<S> <C> <C> <C>
0.625% 1 $ 940,000.00 1.27%
0.750% 1 547,323.38 0.74
1.000% 1 605,000.00 0.82
1.125% 1 967,902.29 1.31
1.250% 2 805,589.50 1.09
1.375% 12 21,232,319.17 28.70
1.500% 10 7,366,046.94 9.96
1.625% 34 18,385,224.62 24.85
1.750% 5 5,682,309.42 7.68
1.875% 27 10,071,672.97 13.61
2.125% 28 5,983,002.03 8.09
2.375% 11 1,391,199.85 1.88
------------------------ ------------------- ------------------------
TOTALS 133 $73,977,590.17 100.00%
======================== =================== ========================
</TABLE>
SIX-MONTH LIBOR INDEX MORTGAGE LOAN MARGINS AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
% of Such Mortgage Loans
Margin Number of Mortgage Loans Principal Balance by Principal Balance
- ---------------- ------------------------ ------------------- ------------------------
<S> <C> <C> <C>
0.750% 1 $ 749,999.99 0.45%
0.875% 1 405,000.00 0.24
1.000% 1 600,172.15 0.36
1.125% 1 312,500.00 0.19
1.250% 3 1,200,820.21 0.72
1.375% 5 1,904,099.99 1.14
1.500% 31 38,415,930.82 23.08
1.625% 31 24,690,242.96 14.83
1.750% 91 41,339,577.44 24.84
1.875% 11 12,754,658.37 7.66
2.000% 69 19,462,234.82 11.69
2.125% 3 2,647,864.18 1.59
2.250% 119 16,988,170.38 10.20
2.375% 1 99,982.25 0.06
2.500% 49 4,193,426.41 2.52
2.625% 2 519,869.91 0.31
2.750% 1 159,000.00 0.10
2.875% 1 26,600.00 0.02
------------------------ ------------------- ------------------------
TOTALS 421 $166,470,149.88 100.00%
======================== =================== ========================
</TABLE>
1996 A
ONE-YEAR TREASURY INDEX MORTGAGE LOAN MARGINS AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
% of Such Mortgage Loans
Margin Number of Mortgage Loans Principal Balance by Principal Balance
- ---------------- ------------------------ ------------------- ------------------------
<S> <C> <C> <C>
1.625% 2 $ 1,699,235.78 7.46%
1.750% 2 1,261,381.25 5.54
1.875% 6 2,834,373.71 12.45
2.000% 2 1,356,000.00 5.96
2.125% 17 5,356,656.47 23.52
2.250% 11 3,168,604.19 13.92
2.375% 1 310,356.01 1.36
2.500% 19 1,933,820.79 8.49
2.625% 2 418,000.00 1.84
2.750% 10 4,429,799.29 19.46
------------------------ ------------------- ------------------------
TOTALS 72 $22,768,227.49 100.00%
======================== =================== ========================
</TABLE>
____________________
The date of this Supplement is April 13, 1998.
