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:
1994 A (Reg# 33-66938)
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 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:
1994 A (Reg# 33-66938)
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
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 months
delinquent. . . . $ 3,717 $ 5,161 $ 5,358 $ 8,447 $ 8,292 $ 5,450
Loan balance of
revolving credit
line 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
percentage of
aggregate loan
balance of
revolving credit
line loans. . . . 2.11% 2.19% 2.63% 3.26% 3.53% 3.57%
REVOLVING CREDIT LINE LOAN LOSS EXPERIENCE
(DOLLARS IN THOUSANDS)
As of December 31,
---------------------------------------------------------------------------------
1992 1993 1994 1995 1996 1997
----------- ----------- ----------- ------------ ---------- ----------
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.
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:
1994 A (Reg# 33-66938)
DIME PORTFOLIO DELINQUENCY EXPERIENCE
(DOLLARS IN THOUSANDS)
<TABLE>
<CAPTION>
As of December 31,
-------------------------------------------------------
1994 1995 1996 1997
---------- ---------- --------- -----------
<S> <C> <C> <C> <C>
Number of revolving credit
line loans serviced . . . . . . . . . . 4,417 3,919 3,356 2,758
Aggregate loan balance of
revolving credit line
loans serviced . . . . . . . . . . . . $233,053 $200,367 $163,241 $128,391
Loan balance of revolving
credit line loans
2 months delinquent . . . . . . . . . . $ 1,743 $ 1,000 $ 1,039 $ 809
Loan balance of revolving
credit line loans
3 months or more
delinquent . . . . . . . . . . . . . . $ 2,056 $ 2,885 $ 3,145 $ 3,589
Total of 2 months or more
delinquent as a percentage
of aggregate loan balance of
revolving credit line loans . . . . . . 1.63% 1.94% 2.56% 3.42%
DIME PORTFOLIO LOSS EXPERIENCE
(DOLLARS IN THOUSANDS)
As of December 31,
--------------------------------------------------------
1994 1995 1996 1997
---------- ---------- --------- -----------
As of end of Period:
Number of revolving credit
line loans serviced . . . . . . . . . 4,417 3,919 3,356 2,758
Aggregate loan balance
of revolving credit
line loans serviced . . . . . . . . . . $233,053 $200,367 $163,241 $128,391
For the Period:
Gross charge-offs
dollars . . . . . . . . . . . . . . . $ 74 $ 95 $ 327 $ 130
Percentage(1) . . . . . . . . . . . . . 0.03% 0.05% 0.20% 0.10%
</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, 1997, the Mortgage Loan
Balances and margins of the Mortgage Loans:
1994 A (Reg# 33-66938)
ADJUSTABLE GROUP 1 LOAN PRINCIPAL BALANCES AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
% of
Number of Adjustable
Adjustable Group 1 Loans by
Group 1 Principal
Range of Principal Balances Loans Principal Balance Balance
- -------------------------------------------- ---------- ------------------ -----------------
<S> <C> <C> <C>
$ 0.00 - 49,999.99 . . . . . . . 25 $ 801,918.10 0.13%
$ 50,000.00 - 54,999.99 . . . . . . . 5 257,394.79 0.04
$ 55,000.00 - 59,999.99 . . . . . . . 7 403,062.83 0.07
$ 60,000.00 - 74,999.99 . . . . . . . 19 1,262,510.56 0.21
$ 75,000.00 - 99,999.99 . . . . . . . 45 4,143,779.87 0.69
$ 100,000.00 - 149,999.99 . . . . . . . 150 18,174,908.63 3.02
$ 150,000.00 - 199,999.99 . . . . . . . 149 26,609,052.22 4.41
$ 200,000.00 - 249,999.99 . . . . . . . 199 43,815,922.94 7.27
$ 250,000.00 - 299,999.99 . . . . . . . 170 47,590,290.99 7.91
$ 300,000.00 - 349,999.99 . . . . . . . 140 44,713,675.42 7.42
$ 350,000.00 - 399,999.99 . . . . . . . 92 34,245,377.28 5.68
$ 400,000.00 - 449,999.99 . . . . . . . 69 29,069,741.19 4.82
$ 450,000.00 - 499,999.99 . . . . . . . 59 27,967,462.31 4.64
$ 500,000.00 - 549,999.99 . . . . . . . 44 22,892,304.15 3.80
$ 550,000.00 - 599,999.99 . . . . . . . 40 22,960,443.75 3.81
$ 600,000.00 - 649,999.99 . . . . . . . 34 20,997,913.26 3.48
$ 650,000.00 - 699,999.99 . . . . . . . 29 19,654,569.80 3.26
$ 700,000.00 - 749,999.99 . . . . . . . 22 15,973,231.59 2.65
$ 750,000.00 - 799,999.99 . . . . . . . 18 14,064,745.66 2.33
$ 800,000.00 - 849,999.99 . . . . . . . 11 9,016,762.33 1.50
$ 850,000.00 - 899,999.99 . . . . . . . 11 9,696,164.38 1.61
$ 900,000.00 - 949,999.99 . . . . . . . 15 13,799,049.27 2.29
$ 950,000.00 - 999,999.99 . . . . . . . 19 18,844,456.41 3.13
$ 1,000,000.00 - 1,099,999.99 . . . . . . . 29 29,496,279.43 4.89
$ 1,100,000.00 - 1,199,999.99 . . . . . . . 12 13,588,076.64 2.25
$ 1,200,000.00 - 1,299,999.99 . . . . . . . 14 17,472,150.30 2.90
$ 1,300,000.00 - 1,399,999.99 . . . . . . . 4 5,371,034.89 0.89
$ 1,400,000.00 - 1,499,999.99 . . . . . . . 7 10,073,724.86 1.67
$ 1,500,000.00 - 1,599,999.99 . . . . . . . 4 6,013,201.57 1.00
$ 1,600,000.00 - 1,699,999.99 . . . . . . . 3 4,830,000.00 0.80
$ 1,700,000.00 - 1,799,999.99 . . . . . . . 2 3,469,000.03 0.58
$ 1,800,000.00 - 1,899,999.99 . . . . . . . 3 5,550,271.51 0.92
$ 1,900,000.00 - 1,999,999.99 . . . . . . . 5 9,846,377.30 1.63
$ 2,000,000.00 - 2,099,999.99 . . . . . . . 5 10,134,275.50 1.68
$ 2,100,000.00 - 2,199,999.99 . . . . . . . 1 2,195,822.36 0.36
$ 2,200,000.00 - 2,299,999.99 . . . . . . . 2 4,524,999.89 0.75
$ 2,400,000.00 - 2,499,999.99 . . . . . . . 1 2,498,951.62 0.41
$ 2,500,000.00 - 2,599,999.99 . . . . . . . 2 5,000,000.00 0.83
$ 2,700,000.00 - 2,799,999.99 . . . . . . . 2 5,450,000.00 0.90
$ 3,000,000.00 or Higher. . . . . . . . . . 5 20,290,644.96 3.37
---------- ------------------ -----------------
TOTALS. . . . . . . . . . . . . . . . . 1,473 $ 602,759,548.59 100.00%
========== ================== =================
</TABLE>
1994 A (Reg# 33-66938)
RANGE OF ADJUSTABLE GROUP 1 MARGINS AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
Number of % of Adjustable
Adjustable Group 1 Loans by
Margin/(1)/ Group 1 Loans Principal Balance Principal Balance
- ----------------- ------------- ------------------- -----------------
<S> <C> <C> <C>
-0.250% 132 $175,400,855.70 29.10%
-0.125% 191 123,233,194.65 20.44
0.000% 578 197,974,252.08 32.84
0.250% 356 73,219,191.85 12.15
0.500% 211 26,096,998.63 4.33
0.750% 2 472,477.29 0.08
1.000% 1 112,578.39 0.02
1.500% 2 6,250,000.00 1.04
------------- ------------------- -----------------
TOTALS 1,473 $602,759,548.59 100.00%
============= =================== =================
</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, 1997
<TABLE>
<CAPTION>
Number of % of Fixed Group 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 $ 50,456.94 0.39%
$ 75,000.00 - 99,999.99 . . 1 88,651.56 0.69
$ 100,000.00 - 149,999.99 . . 2 205,266.88 1.59
$ 150,000.00 - 199,999.99 . . 11 1,992,874.77 15.45
$ 200,000.00 - 249,999.99 . . 11 2,503,584.85 19.40
$ 250,000.00 - 299,999.99 . . 5 1,391,843.41 10.79
$ 300,000.00 - 349,999.99 . . 4 1,331,001.61 10.32
$ 350,000.00 - 399,999.99 . . 2 790,939.03 6.13
$ 450,000.00 - 499,999.99 . . 2 946,250.18 7.34
$ 500,000.00 - 549,999.99 . . 1 503,570.00 3.90
$ 550,000.00 - 599,999.99 . . 1 574,918.22 4.46
$ 750,000.00 - 799,999.99 . . 1 764,508.66 5.93
$ 800,000.00 - 849,999.99 . . 1 800,912.78 6.21
$ 950,000.00 - 999,999.99 . . 1 954,570.29 7.40
------------- -------------- -------------------
TOTALS 44 $ 12,899,349.18 100.00%
============= ============== ===================
</TABLE>
1994 A (Reg# 33-66938)
GROUP 2 LOAN PRINCIPAL BALANCES AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
Number of % of Group 2
Group 2 Loans by
Range of Principal Balances Loans Principal Balance Principal Balance
- -------------------------------------------- ----------- ------------------ -----------------
<S> <C> <C> <C>
$ 4,999.99 or Lower 120 $ 269,238.81 0.21%
$ 5,000.00 - 9,999.99 . . . . . . . 176 1,336,939.85 1.04
$ 10,000.00 - 14,999.99 . . . . . . . 182 2,288,167.09 1.77
$ 15,000.00 - 19,999.99 . . . . . . . 185 3,260,707.94 2.53
$ 20,000.00 - 24,999.99 . . . . . . . 168 3,832,667.65 2.97
$ 25,000.00 - 29,999.99 . . . . . . . 186 5,183,821.95 4.01
$ 30,000.00 - 34,999.99 . . . . . . . 152 4,969,113.57 3.85
$ 35,000.00 - 39,999.99 . . . . . . . 162 6,097,379.34 4.72
$ 40,000.00 - 44,999.99 . . . . . . . 145 6,191,194.13 4.80
$ 45,000.00 - 49,999.99 . . . . . . . 170 8,142,804.71 6.31
$ 50,000.00 - 54,999.99 . . . . . . . 67 3,513,071.13 2.72
$ 55,000.00 - 59,999.99 . . . . . . . 83 4,815,316.94 3.73
$ 60,000.00 - 64,999.99 . . . . . . . 61 3,832,373.52 2.97
$ 65,000.00 - 69,999.99 . . . . . . . 65 4,378,868.01 3.39
$ 70,000.00 - 74,999.99 . . . . . . . 83 6,034,789.81 4.67
$ 75,000.00 - 99,999.99 . . . . . . . 219 19,174,168.03 14.84
$ 100,000.00 - 149,999.99 . . . . . . . 126 15,302.404.67 11.85
$ 150,000.00 - 199,999.99 . . . . . . . 44 7,623,944.19 5.90
$ 200,000.00 - 249,999.99 . . . . . . . 21 4,866,910.42 3.77
$ 250,000.00 - 299,999.99 . . . . . . . 16 4,592,297.98 3.56
$ 300,000.00 - 349,999.99 . . . . . . . 16 5,240,460.80 4.06
$ 350,000.00 - 399,999.99 . . . . . . . 1 368,164.84 0.29
$ 400,000.00 - 449,999.99 . . . . . . . 1 400,228.72 0.31
$ 450,000.00 - 499,999.99 . . . . . . . 3 1,430,719.69 1.11
$ 500,000.00 - 549,999.99 . . . . . . . 2 1,040,313.24 0.81
$ 550,000.00 - 599,999.99 . . . . . . . 2 1,160,814.15 0.90
$ 600,000.00 - 649,999.99 . . . . . . . 1 623,494.77 0.48
$ 700,000.00 - 749,999.99 . . . . . . . 1 703,625.77 0.54
$ 900,000.00 - 949,999.99 . . . . . . . 1 941,372.11 0.73
$ 1,400,000.00 - 1,499,999.99 . . . . . . . 1 1,497,839.42 1.16
----------- ------------------ -----------------
TOTALS . . . . . . . . . . . . . . . . . . . 2,460 $129,113,213.25 100.00%
=========== ================== =================
</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, 1997, the Certificate Characteristics:
1994 A (Reg# 33-66938)
SUBORDINATE 1994A
GROUP 1 CERTIFICATE CHARACTERISTICS AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
Parties to Original
Pooling Type Senior Original
Month and of Original Mortgage Pooled
of Servicing Mortgage Pool Certificates Certificates
Series Servicing Agreement Loan Balance Balance Balance
- -------- --------- ---------- -------- --------------- --------------- ------------
<S> <C> <C> <C> <C> <C> <C>
1991F 6/91 (3) (4) $275,922,834 $267,645,149 $8,277,685
1992A 2/92 (3) (4) $254,696,872 $247,692,708 $7,004,164
1992C 5/92 (3) (4) $192,556,636 $188,223,000 $4,333,636
1992F 8/92 (3) (4) $307,013,073 $297,802,000 $9,211,073
1993B 2/93 (3) (4) $287,950,988 $278,600,000 $9,350,988
1993C 3/93 (3) (4) $272,072,855 $264,585,000 $7,487,855
1993E 6/93 (3) (4) $226,724,904 $221,241,592 $5,483,312
--------------- --------------- ------------
Totals $1,816,938,162 $1,765,789,449 $51,148,713
=============== =============== ============
</TABLE>
(table continued)
<TABLE>
<CAPTION>
Original Current
Pooled Pooled
Certificates Certificates
Current Balance Balance
Senior Current as a % of as a %
Current Mortgage Pooled Original of Current
Pool Certificates Certificates Pool Pool
Series Balance(1) Balance(1) Balance(1) Balance Balance
- --------- ------------ ------------- -------------- ----------- -----------
<S> <C> <C> <C> <C> <C>
1991F $84,130,730 $58,607,868 $6,651,474 (5) 3.00% 7.91%
1992A $78,311,970 $56,325,334 $6,017,385 (5) 2.75% 7.68%
1992C $58,846,717 $44,038,482 $3,107,016 (5) 2.25% 5.28%
1992F $105,273,032 $96,201,021 $4,322,685 3.00% 4.11%
1993B $92,099,166 $82,748,178 $9,350,988 3.25% 10.15%
1993C $92,674,074 $85,186,219 $7,487,855 2.75% 8.08%
1993E $104,323,209 $98,839,897 $5,483,312 2.42% 5.26%
------------ ------------- -------------- ----------- -----------
Totals $615,658,898 $521,946,998 $42,420,715 2.82% 6.89%
============ ============= ============== =========== ===========
</TABLE>
(table continued)
<TABLE>
<CAPTION>
Current
Pooled CPR
Certificates for the
Balance Mortgage Principal Mortgage
as a % of 30-59 60+ Loans in Balance of Loans
the Respective Day Delin- Day Delin- Fore- Loans in in the
Series Total(1) quencies(1) quencies(1) closure (1) Foreclosure (1) Series(2)
- ------------ --------------- ------------- -------------- ------------ ----------------- -----------
<S> <C> <C> <C> <C> <C> <C>
1991F 15.68% $299,867 $399,704 2 $1,247,836 16.50%
1992A 14.19% $317,900 $0 4 $2,701,383 18.10%
1992C 7.32% $1,103,397 $0 2 $1,049,984 18.90%
1992F 10.19% $1,248,170 $1,679,893 1 $299,762 17.90%
1993B 22.04% $3,565,688 $3,286,151 0 $0 20.70%
1993C 17.65% $1,720,888 $0 1 $999,321 20.00%
1993E 12.93% $1,115,011 $3,180,000 2 $7,853,000 15.60%
--------------- ------------- -------------- ------------ ----------------- -----------
Totals 100.00% $9,370,921 $8,545,748 12 $14,151,286 N/A
=============== ============= ============== ============ ================= ===========
</TABLE>
____________________
(1) As of December 31, 1997 (after the January 15, 1998 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, 1997.
(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, Bank of America National Trust and Savings Association), as
Underlying Trustee.
(4) The Mortgage Loans in all Series are adjustable rate PrimeFirst loans,
except that Series 1993E contains $12,899,349 principal amount of fixed
----------
rate Mortgage Loans as of December 31, 1997. 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.
1994 A (Reg# 33-66938)
SUBORDINATE 1994A
GROUP 2 CERTIFICATE CHARACTERISTICS AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
Parties
to Original
Pooling Type Senior Original
Month and of Distribution Original Mortgage Pooled Current
of Servicing Mortgage of Lien Pool Certificates Certificates Pool
Series Issuance Agreement Loan Priority Balance Balance Balance Balance(1)
- ------ -------- --------- -------- ------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1992-1 9/92 (3) (5) (6) $321,511,670 $305,436,000 $16,075,670 $ 88,812,710
1993-1 2/93 (3) (4) (7) $316,009,706 $303,380,000 $12,629,706 $ 40,020,191
------------ ------------ ------------ ------------
Totals $637,521,376 $608,816,000 $28,705,376 $128,832,900
============ ============ ============ ============
</TABLE>
(table continued)
<TABLE>
<CAPTION>
Original
Pooled Current Current
Certificates Pooled Pooled
Balance Certificates Certificates
Senior Current as a % of Balance Balance
Mortgage Pooled Original as a % of Current as a % of
Certificates Certificates Pool Pool the Respective
Series Balance(1) Balance(1) Balance Balance Total(1)
- -------- --------------- -------------- ------------ ----------------- --------------
<S> <C> <C> <C> <C> <C>
1992-1 $72,737,040 $16,075,670 5.00% 18.10% 56.00%
1993-1 $ 9,836,875 $12,629,706 4.00% 31.56% 44.00%
--------------- -------------- ------------ ----------------- --------------
Totals $82,573,914 $28,705,376 4.50% 22.28% 100.00%
=============== ============== ============ ================= ==============
</TABLE>
(table continued)
<TABLE>
<CAPTION>
CPR
for the
Mortgage Principal Mortgage
30-59 60+ Loans in Balance of Loans
Day Delin- Day Delin- Fore- Loans in in the
Series quencies(1) quencies(1) closure (1) Foreclosure (1) Series(2)
- -------- ----------- ----------- ----------- --------------- ---------
<S> <C> <C> <C> <C> <C>
1992-1 $3,715,922 $2,350,117 18 $1,303,273 21.40%
1993-1 $1,281,655 $1,880,752 8 $3,484,735 34.30%
----------- ----------- ----------- --------------- ---------
Totals $4,997,577 $4,230,869 26 $4,788,007 N/A
=========== =========== =========== =============== =========
</TABLE>
____________________
(1) As of December 31, 1997 (after the January 15, 1998 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, 1997.
(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. See "MLCC and Its Mortgage Programs--
Equity Access Program."
(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) 0.34% first lien and 99.66% second and third liens as of December 31,
1997.
(7) 62.58% first lien and 37.42% second lien as of December 31, 1997.
_____________________________
The date of this Prospectus Supplement is April 13, 1998.
