Registration No. 33-66938
Rule 424(b)(3)
PROSPECTUS SUPPLEMENT TO PROSPECTUS DATED JANUARY 14, 1994
Merrill Lynch Home Equity Acceptance, Inc., Seller
Subordinate Mortgage Backed Certificates,
Series 1994A, Class A-1 and A-2
MERRILL LYNCH CREDIT CORPORATION
Master Servicer
_________________________________________________________________
On January 18, 1994, Subordinate Mortgage Backed Certificates, Series
1994A, Class A-1 and A-2 (the "Class A Certificates") were issued in an
approximate original aggregate principal amount of $103,636,222. The Class A
Certificates represented beneficial interests of approximately 77.7% in the
Trust Fund comprised of certain subordinate mortgage pass-through
certificates issued pursuant to separate pooling and servicing agreements
each by and among Merrill Lynch Home Equity Acceptance, Inc., as seller,
Merrill Lynch Credit Corporation, as master 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 Mortgage Programs--Prime First and Fixed Rate Mortgage
Loans--Delinquency and Loan Loss Experience" on page 66 of the Prospectus are
hereby updated, in their entirety, as follows:
PRIMEFIRST(Registered Trademark) LOAN DELINQUENCY EXPERIENCE
(Dollars in Thousands)
<TABLE>
<CAPTION> December 31, 1996 December 31, 1995 December 31, 1994
------------------------------- ----------------------------- --------------------------
Number
of
Number of Principal Number of Principal PrimeFirst Principal
PrimeFirst Loans Amount PrimeFirst Loans Amount Loans Amount
---------------- ----------- ---------------- --------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
PrimeFirst Loans
Outstanding . . . . . . . . . . 11,054 $4,331,131 8,272 $3,536,761 7,615 $3,351,328
Delinquency Period
30-59 Days . . . . . . . . . . 180 $ 84,297 127 $ 56,370 121 $ 86,279
60-89 Days . . . . . . . . . . 19 6,583 13 7,917 20 18,152
90 Days or More* . . . . . . . 29 27,590 44 45,749 17 19,257
Total Delinquency . . . . . 228 $ 118,470 184 $ 110,036 158 $ 123,688
Delinquencies as Percent
of Number of PrimeFirst
Loans and Principal Amount
Outstanding . . . . . . . . . . 2.06% 2.74% 2.22% 3.11% 2.07% 3.69%
Foreclosures . . . . . . . . . . 29 $ 39,100 28 $ 38,209 18 $ 15,637
Foreclosures as Percent
of Number of PrimeFirst
Loans and Principal Amount
Outstanding . . . . . . . . 0.26% 0.90% 0.34% 1.11% 0.24% 0.47%
</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, 1996 December 31, 1995 December 31, 1994
----------------- ----------------- -----------------
<S> <C> <C> <C>
Average Principal Balance of PrimeFirst Loan
Portfolio . . . . . . . . . . . . . . . . . . . . $3,933,946 $3,444,045 $2,807,875
Average Number of PrimeFirst Loans Outstanding
During the Period . . . . . . . . . . . . . . 9,663 7,944 6,287
Gross Charge-offs . . . . . . . . . . . . . . . . . $ 6,157 $ 1,840 $ 457
Recoveries . . . . . . . . . . . . . . . . . . . . 0 0 0
----------- ----------- ----------
Net Charge-offs . . . . . . . . . . . . . . . . . . $ 6,157 $ 1,840 $ 457
============ ============ ==========
Net Charge-offs as a percent of Average
Principal Balance Outstanding . . . . . . . . 0.16% 0.05% 0.02%
</TABLE>
The first two tables set forth after the first paragraph under the heading
"MLCC and its Mortgage Programs--Delinquency and Loan Loss Experience" on page
69 and 70 of the Prospectus are hereby updated, in their entirety, as follows:
REVOLVING CREDIT LINE LOAN DELINQUENCY EXPERIENCE
(DOLLARS IN THOUSANDS)
<TABLE>
<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 Mos.
Delinquent . . . . . . . . $ 2,250 $ 3,717 $ 5,161 $ 5,358 $ 8,447 $8,292
Loan Balance of Revolving
Credit line Loans 3 Mos.
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 Serviced . . . . . . 2.29% 2.11% 2.19% 2.63% 3.26% 3.53%
</TABLE>
MORTGAGE LOAN LOSS EXPERIENCE
(DOLLARS IN THOUSANDS)
<TABLE>
<CAPTION> As of December 31,
----------------------------------------------------------------------------------
1991 1992 1993 1994 1995 1996
---- ---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C>
As of end of Period:
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.
The first two tables set forth after the first paragraph under the heading
"MLCC and its Mortgage Programs-Dime Revolving Credit Loans-Delinquency and
Loan Loss Experience" on pages 75 and 76 of the Prospectus are hereby updated,
in their entirety, as follows:
<TABLE>
<CAPTION> DIME PORTFOLIO DELINQUENCY EXPERIENCE
(DOLLARS IN THOUSANDS)
As of December 31,
----------------------------------------------------------
1993 1994 1995 1996
------- ------ ------ -----
<S> <C> <C> <C> <C>
Number of revolving credit line loans
serviced . . . . . . . . . . . . . 5,033 4,417 3,919 3,356
Aggregate loan balance of revolving
credit
line loans serviced . . . . . . . . . $273,325 $233,053 $200,367 $163,241
Loan balance of revolving credit line
loans
2 months delinquent . . . . . . . . . $ 773 $ 1,743 $ 1,000 $ 1,039
Loan balance of revolving credit line
loans
3 months or more delinquent . . . . . $ 807 $ 2,056 $ 2,885 $ 3,145
Total of 2 months or more delinquent as
a percentage of aggregate loan balance
of revolving credit line loans . . . . 0.58% 1.63% 1.94% 2.56%
</TABLE>
<TABLE>
<CAPTION>
DIME PORTFOLIO LOSS EXPERIENCE
(DOLLARS IN THOUSANDS)
As of December 31,
----------------------------------------------------
1993 1994 1995 1996
------- ------- ------ ------
<S> <C> <C> <C> <C>
As of end of Period:
Number of revolving credit line
loans serviced . . . . . . . . . . 5,033 4,417 3,919 3,356
Aggregate loan balance of revolving
credit
line loans serviced . . . . . . . $273,325 $233,053 $200,367 $163,241
For the Period:
Gross charge-offs dollars . . . . $ 0 $ 74 $ 95 $ 327
Percentage(1) . . . . . . . . . . 0.00% 0.03% 0.05% 0.20%
</TABLE>
______________
(1) As a percentage of aggregate balance of Mortgage Loans serviced.
The information contained in the tables entitled "Statistics Date
Adjustable Group 1 Loan Principal Balances", "Range of Adjustable Group 1
Margins", "Statistics Data Fixed Group 1 Loan Principal Balances" and
"Statistics Date Group 2 Loan Principal Balances" under the heading "The
Mortgage Pools" on pages 45, 48, 50 and 56, respectively, of the Prospectus
are hereby updated to indicate, as of December 31, 1996, the Mortgage Loan
Balances and margins of the Mortgage Loans:
ADJUSTABLE GROUP 1 LOAN PRINCIPAL BALANCES AS OF DECEMBER 31, 1996
<TABLE>
<CAPTION> Number of
Adjustable % of Adjustable
Group 1 Group 1 Loans by
Range of Principal Balances Loans Principal Balance Principal Balance
--------------------------- ----------- ----------------- ------------------
<S> <C> <C> <C>
$ 0.00 - 49,999.99 . . . . . . . . 25 $ 686,615.92 0.09%
$ 50,000.00 - 54,999.99 . . . . . . 3 156,256.08 0.02
$ 55,000.00 - 59,999.99 . . . . . . 6 342,399.54 0.04
$ 60,000.00 - 74,999.99 . . . . . . 20 1,384,291.47 0.18
$ 75,000.00 - 99,999.99 . . . . . . 50 4,566,642.37 0.58
$ 100,000.00 - 149,999.99 . . . . . 194 23,618,437.24 3.00
$ 150,000.00 - 199,999.99 . . . . . 187 33,233,424.45 4.21
$ 200,000.00 - 249,999.99 . . . . . 244 54,018,614.79 6.85
$ 250,000.00 - 299,999.99 . . . . . 202 56,443,323.47 7.16
$ 300,000.00 - 349,999.99 . . . . . 189 60,273,617.47 7.67
$ 350,000.00 - 399,999.99 . . . . . 119 44,538,965.79 5.65
$ 400,000.00 - 449,999.99 . . . . . 83 34,866,996.91 4.42
$ 450,000.00 - 499,999.99 . . . . . 79 37,424,118.29 4.75
$ 500,000.00 - 549,999.99 . . . . . 55 28,528,492.50 3.62
$ 550,000.00 - 599,999.99 . . . . . 50 28,713,252.46 3.64
$ 600,000.00 - 649,999.99 . . . . . 49 30,232,198.66 3.83
$ 650,000.00 - 699,999.99 . . . . . 31 20,952,258.35 2.66
$ 700,000.00 - 749,999.99 . . . . . 27 19,521,265.34 2.48
$ 750,000.00 - 799,999.99 . . . . . 22 17,032,813.24 2.16
$ 800,000.00 - 849,999.99 . . . . . 17 13,875,131.29 1.76
$ 850,000.00 - 899,999.99 . . . . . 17 14,846,826.51 1.88
$ 900,000.00 - 949,999.99 . . . . . 16 14,684,822.68 1.86
$ 950,000.00 - 999,999.99 . . . . . 25 24,776,852.63 3.14
$1,000,000.00 - 1,099,999.99 . . . . . 41 41,886,111.34 5.31
$1,100,000.00 - 1,199,999.99 . . . . . 9 10,098,456.05 1.28
$1,200,000.00 - 1,299,999.99 . . . . . 18 22,296,108.85 2.83
$1,300,000.00 - 1,399,999.99 . . . . . 5 6,721,034.89 0.85
$1,400,000.00 - 1,499,999.99 . . . . . 14 20,303,084.77 2.57
$1,500,000.00 - 1,599,999.99 . . . . . 5 7,513,201.57 0.95
$1,600,000.00 - 1,699,999.99 . . . . . 5 8,130,000.00 1.03
$1,700,000.00 - 1,799,999.99 . . . . . 5 8,755,228.58 1.11
$1,800,000.00 - 1,899,999.99 . . . . . 4 7,350,271.51 0.93
$1,900,000.00 - 1,999,999.99 . . . . . 6 11,848,044.15 1.50
$2,000,000.00 - 2,099,999.99 . . . . . 7 14,198,275.50 1.80
$2,100,000.00 - 2,199,999.99 . . . . . 2 4,325,183.36 0.55
$2,200,000.00 - 2,299,999.99 . . . . . 2 4,524,999.89 0.57
$2,300,000.00 - 2,399,999.99 . . . . . 2 4,660,000.00 0.59
$2,400,000.00 - 2,499,999.99 . . . . . 2 4,998,232.62 0.63
$2,500,000.00 - 2,599,999.99 . . . . . 2 5,000,000.00 0.63
$2,700,000.00 - 2,799,999.99 . . . . . 3 8,150,000.00 1.03
$2,900,000.00 - 2,999,999.99 . . . . . 1 2,984,970.21 0.38
$3,000,000.00 or higher . . . . . . . 8 30,051,315.84 3.81
-------- -------------- ------
TOTALS . . . . . . . . . . . . 1,851 $788,512,136.58 100.00%
======== =============== ======
</TABLE>
RANGE OF ADJUSTABLE GROUP 1 MARGINS AS OF DECEMBER 31, 1996
<TABLE>
<CAPTION> Number of % of Adjustable
Adjustable Group 1 Group 1 Loans by
Margin/(1)/ Loans Principal Balance Principal Balance
------------ ------------------- ----------------- -----------------
<S> <C> <C> <C>
-0.500% 1 $124,275.40 0.02%
-0.250% 177 245,817,747.29 31.17
-0.125% 236 155,826,426.59 19.76
0.000% 721 252,266,160.54 31.99
0.250% 429 91,673,623.88 11.63
0.500% 281 35,368,530.37 4.49
0.750% 2 472,692.85 0.06
1.000% 1 112,679.66 0.01
1.500% 2 6,250,000.00 0.79
1.625% 1 600,000.00 0.08
____ ------------- ----
TOTALS 1,851 $788,512,136.58 100.00%
===== =============== ======
</TABLE>
_________________________
(1) The Margin is added to or subtracted from (as indicated) the applicable
Prime Index to arrive at the Mortgage Rate, except when the Margin is
equal to or greater than 1.50%, in which case it is added to the
applicable Six-Month LIBOR Index; provided that the Underlying Mortgage
Rate will not exceed 12.00%, 15.00% or 18.00% per annum, as applicable.
See "Summary of the Terms of the Class A Certificates--Group 1 Loans"
and "MLCC and its Mortgage Programs--PrimeFirst and Fixed Rate Mortgage
Loans" herein.
FIXED GROUP 1 LOAN PRINCIPAL BALANCES AS OF DECEMBER 31, 1996
<TABLE>
<CAPTION> % of Fixed Group
Number of 1
Fixed Group 1 Principal Loans by
Range of Principal Balances Loans Balance Principal Balance
--------------------------- -------------- --------- -----------------
<S> <C> <C> <C>
$ 50,000.00 - 54,999.99 . . . 1 $ 53,564.91 0.35%
$ 75,000.00 - 99,999.99 . . . 1 95,969.23 0.62
$100,000.00 - 149,999.99 . . . . . 3 318,613.62 2.07
$150,000.00 - 199,999.99 . . . . . 11 2,067,302.48 13.43
$200,000.00 - 249,999.99 . . . . . 12 2,688.972.02 17.48
$250,000.00 - 299,999.99 . . . . . 5 1,403,962.62 9.12
$300,000.00 - 349,999.99 . . . . . 5 1,652,371.42 10.74
$350,000.00 - 399,999.99 . . . . . 3 1,114,476.85 7.24
$400,000.00 - 449,999.99 . . . . . 1 406,502.41 2.64
$450,000.00 - 499,999.99 . . . . . 1 469,738.74 3.05
$500,000.00 - 549,999.99 . . . . . 2 1,041,502.95 6.77
$550,000.00 - 599,999.99 . . . . . 1 583,087.35 3.79
$750,000.00 - 799,999.99 . . . . . 1 772,577.00 5.02
$850,000.00 - 899,999.99 . . . . . 1 850,243.45 5.52
$900,000.00 - 949,999.99 . . . . . 1 906,049.79 5.89
$950,000.00 - 999,999.99 . . . . . 1 965,147.11 6.27
----------- ---------------- -------
TOTALS 50 $ 15,390,081.95 100.00%
=========== ================ =======
</TABLE>
GROUP 2 LOAN PRINCIPAL BALANCES AS OF DECEMBER 31, 1996
<TABLE>
<CAPTION> % ofGroup 2
Number of Loans by
Range of Principal Balances Group 2 Loans Principal Balance Principal Balance
--------------------------- ------------- ----------------- ------------------
<S> <C> <C> <C>
$ 4,999.99 or Lower 333 $ 776,858.41 0.29%
$ 5,000.00 - 9,999.99 . . . . . 405 3,006,184.95 1.10
$ 10,000.00 - 14,999.99 . . . . 395 4,967,823.76 1.83
$ 15,000.00 - 19,999.99 . . . . 390 6,832,027.66 2.51
$ 20,000.00 - 24,999.99 . . . . 321 7,265,382,16 2.67
$ 25,000.00 - 29,999.99 . . . . 366 10,163,202.58 3.73
$ 30,000.00 - 34,999.99 . . . . 250 8,137,905.12 2.99
$ 35,000.00 - 39,999.99 . . . . 276 10,429,388.27 3.83
$ 40,000.00 - 44,999.99 . . . . 262 11,195,690.17 4.11
$ 45,000.00 - 49,999.99 . . . . 278 13,331,691.64 4.90
$ 50,000.00 - 54,999.99 . . . . 146 7,634,217.83 2.81
$ 55,000.00 - 59,999.99 . . . . 151 8,759,351.59 3.22
$ 60,000.00 - 64,999.99 . . . . 121 7,578,475.95 2.78
$ 65,000.00 - 69,999.99 . . . . 102 6,913,430.11 2.54
$ 70,000.00 - 74,999.99 . . . . 135 9,825,161.00 3.61
$ 75,000.00 - 99,999.99 . . . . 416 36,538,065.31 13.43
$ 100,000.00 - 149,999.99 . . . 295 36,057,421.52 13.25
$ 150,000.00 - 199,999.99 .. . . 112 19,553,673.94 7.18
$ 200,000.00 - 249,999.99 . . . 53 12,152,296.77 4.47
$ 250,000.00 - 299,999.99 . . . 48 13,249,845.10 4.87
$ 300,000.00 - 349,999.99 . . . 32 10,432,196.56 3.83
$ 350,000.00 - 399,999.99 . . . 10 3,735,562.95 1.37
$ 400,000.00 - 449,999.99 . . . 6 2,579,267.79 0.95
$ 450,000.00 - 499,999.99 . . . 6 2,899,333.43 1.07
$ 500,000.00 - 549,999.99 . . . 4 2,087,902.21 0.77
$ 550,000.00 - 599,999.99 . . . 2 1,172,144.87 0.43
$ 600,000.00 - 649,999.99 . . . 3 1,916,708.60 0.70
$ 650,000.00 - 699,999.99 . . . 3 1,986,034.80 0.73
$ 700,000.00 - 749,999.99 . . . 2 1,439,259.94 0.53
$ 750,000.00 - 799,999.99 . . . 3 2,376,328.34 0.87
$ 900,000.00 - 999,999.99 . . . 1 941,372.11 0.35
$1,000,000.00 - 1,099,999.99 . . . 3 3,050,799.00 1.12
$1,400,000.00 - 1,499,999.99 . . . 1 1,497,839.42 0.55
$1,600,000.00 - 1,699,999.99 . . . . 1 1,671,922.14 0.61
-------- ------------------- -------
TOTALS . . . . . . . . . . . . . . . 4,932 $ 272,154,766.00 100.00%
======== =================== =======
</TABLE>
Additionally, the information contained in the tables entitled "Group 1
Certificate Characteristics" and "Group 2 Certificate Characteristics" under
the heading "Description of the Pooled Certificates--General" on pages 30 and
32, respectively, of the Prospectus are hereby updated to indicate, as of
December 31, 1996, the Certificate Characteristics:
<TABLE>
GROUP 1 CERTIFICATE CHARACTERISTICS AS OF DECEMBER 31, 1996
<CAPTION> Parties to Original Current
Pooling Type Senior Original Senior
Month and of Original Mortgage Pooled Current Mortgage
of Servicing Mortgage Pool Certificates Certificates Pool Certificates
Series Issuance Agreement Loan Balance Balance Balance Balance(1) Balance(1)
------ -------- ---------- -------- ----------- ------------- ------------- ------------ -------------
<S> <C> <C> <C> <C> <C> <C>
1991F 6/91 (3) (4) $275,922,834 $267,645,149 $8,277,685 $111,683,143 $86,838,005
1992A 2/92 (3) (4) 254,696,872 247,692,708 7,004,164 101.759,054 80,944,125
1992C 5/92 (3) (4) 192,556,636 188,223,000 4,333,636 78,269,676 64,301,559
1992F 8/92 (3) (4) 307,013,073 297,802,000 9,211,073 131,598,921 122,387,848
1993B 2/93 (3) (4) 287,950,988 278,600,000 9,350,988 126,056,627 116,705,639
1993C 3/93 (3) (4) 272,072,855 264,585,000 7,487,855 123,368,491 115,880,636
1993E 6/93 (3) (4) 226,724,904 221,241,592 5,483,312 131,166,306 125,682,994
-------------- ------------- ---------- ------------ ------------
Totals $1,816,938,162 $1,765,789,449 $51,148,713 $803,902,218 $712,740,806
============== ============== =========== ============= ============
</TABLE>
(table continued)
<TABLE>
<CAPTION>
Original Original Original
Pooled Pooled Pooled
Certificates CertificatesCertificates CPR
Balance Balance Balance for the
Current as a % of as a % as a % of Mortgage Principal Mortgage
Pooled Original of Current the 30-59 60+ Loans in Balance of Loans
Certificates Pool Pool Respective Day Delin- Day Delin- Fore- Loans in in the
Series Balance(1) Balance Balance Total(1) quencies(1) quencies(1) closure(1) Foreclosure(1) Series(2)
- ------ ------------ -------- -------- -------- ----------- ----------- ---------- ------------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1991F $6,950,345 (5) 3.00% 6.22% 14.66% $859,398 $999,183 3 $4,350,000 15.00%
1992A 6,254,036 (5) 2.75% 6.15% 13,19% 2,461,986 570,000 4 2,720,002 17.00%
1992C 3,565,382 (5) 2.25% 4.56% 7.52% 2,041,794 2,349,964 1 854,995 17.50%
1992F 8,319,544 3.00% 6.32% 17.55% 2,736,553 1,469,762 1 420,000 17.50%
1993B 9,350,988 3.25% 7.42% 19.72% 2,023,531 189,643 3 2,934,063 19.00%
1993C 7,487,855 2.75% 6.07% 15.79% 3,375,804 2,933,568 0 0 18.60%
1993E 5,483,312 2.42% 4.18% 11.57% 5,278,754 765,000 2 7,100,000 14.10%
------------ ----- ----- ------ ----------- ---------- --- ---------- ------
Totals $47,411,462 2.82% 5.90% 100.00% $18,777,820 $9,277,120 14 $18,379,060 N/A
============ ===== ===== ======= =========== ========== ===
</TABLE>
____________________
(1) As of December 31, 1996 (after the January 15, 1997 distribution).
(2) The CPR is the constant rate of prepayment each month, expressed as per
annum percentage of the scheduled principal balance of the pool of
mortgage loans for that month for the period from the creation of the
Series to December 31, 1996.
(3) Merrill Lynch Mortgage Investors, Inc., as depositor, MLCC, as Servicer,
and Bankers Trust Company of California, N.A. (in the case of Series
1991F, Security Pacific National Bank), as Underlying Trustee.
(4) The Mortgage Loans in all Series are adjustable rate
PrimeFirst(Registered Trademark) loans, except that Series 1993E
contains $15,390,082 principal amount of fixed rate Mortgage Loans as of
December 31, 1996. See "The Mortgage Pools--Group 1 Loans."
(5) Commencing with the January 18, 1994 Underlying Distribution Date, the
Pooled Certificates will receive, as a distribution of principal, the
excess interest, if any, available in respect of such Series that is not
required to be distributed to the Senior Mortgage Certificates of such
Series.
<TABLE>
GROUP 2 CERTIFICATE CHARACTERISTICS AS OF DECEMBER 31, 1996
<CAPTION>
Current
Parties Original Original Senior
Pooling Type Senior Pooled Mortgage
Month and of Distribution Original Mortgage Certifi- Current Certifi-
of Servicing Mortgage of Lien Pool Certificates cates Pool cates
Series Issuance Agreement Loan Priority Balance Balance Balance Balance(1) Balance(1)
- ------- -------- --------- ------ ---------- --------- ----------- -------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1991-2 9/91 (3) (4) (6) $644,828,169 $619,035,042 $25,793,127 $92,378,506 $25,918,618
1992-1 9/92 (3) (5) (7) 321,511,670 305,436,000 16,075,670 114,707,821 98,632,151
1993-1 2/93 (3) (4) (8) 316,009,706 303,380,000 12,629,706 61,242,806 32,174,047
-------------- ------------- ----------- ------------ ------------
Totals $1,282,349,545 $1,227,851,042 $54,498,503 $268,329,133 $156,724,816
============== ============== =========== ============ ============
(table continued)
Original Current Current
Pooled Pooled Pooled
Certificates Certificates Certificates CPR
Balance Balance Balance Mortgage for the
as a % of as a % as a % of Loans in Principal Mortgage
Current Original of Current the 30-59 60+ Fore- Balance of Loans
Pooled Pool Pool Pool Day Delin- Day Delin- closure Loans in in the
Series Balance(1) Balance Balance Total(1) quencies(1) quencies(1) (1) Foreclosure(1) Series(2)
- ------ ----------- ------- -------- --------- ------------- ------------- ------------ ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1991-2 $18,010,724 4.0% 19.50% 38.55% $ 3,666,314 $ 3,706,225 12 $1,302,891 30.50%
1992-1 16,075,670 5.0% 14.01% 34.41% 5,977,876 2,861,970 19 1,162,469 21.20%
1993-1 12,629,706 4.0% 20.62% 27.04% 2,549,339 1,815,955 10 3,125,963 34.20%
----------- ----- ------ ------- ---------- ---------- -- ---------- -------
Totals $46,716,100 4.25% 17.41% 100.00% $12,193,529 $8,384,150 41 $5,591,323 N/A
=========== ===== ====== ======= =========== ========= == ========= ======
</TABLE>
____________________
(1) As of December 31, 1996 (after the January 15, 1997 distribution).
(2) The CPR is the constant rate of prepayment each month, expressed as per
annum percentage of the scheduled principal balance of the pool of
mortgage loans for that month for the period from the creation of the
Series to December 31, 1996.
(3) Merrill Lynch Mortgage Investors, Inc., as depositor, MLCC, as Servicer,
and Bankers Trust Company of California, N.A., as Underlying Trustee.
(4) MLCC Revolving Credit Loans, except for the 1991-2 Series, which
contains Mortgage Loans constituting 4.00% of the Mortgage Pool, which
are Revolving Credit Loans originated by CenTrust. See "MLCC and Its
Mortgage Programs--Equity Access Program" and "--Centrust Revolving
Credit Loans."
(5) Dime Revolving Credit Loans. See "MLCC and Its Mortgage Programs--Dime
Revolving Credit Loans." Substantially all of the Mortgaged Properties
securing the Dime Revolving Credit Loans are located in New York.
(6) 49.69% first lien and 50.31% second and third liens as of December 31,
1996.
(7) 0.27% first lien and 99.73% second lien as of December 31, 1996.
(8) 57.71% first lien and 42.29% second and third liens as of December 31,
1996.
_____________________________
The date of this Prospectus Supplement is March 31, 1997.
