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Previous: METALS USA INC, S-8, 1997-07-30 |
Next: MONEY STORE BUSINESS LOAN BACKED CERIFICATES SERIES 1997-1, 8-K, 1997-07-30 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
___________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event report) 08-Jul-97
ClassNotes Trust 1997-I and the originators listed below under Sale and
Servicing Agreement, dated as of February 28, 1997 providing for the
issuance of ClassNotes Trust 1997-1, Asset Backed Series 1997-1
Trans-World Insurance Company
-----------------------------
ClassNotes Inc.
================================================================================
(Exact name of regristrant as specified in its charter)
New Jersey
----------
Arizona 333-18877-01 Applied For
------- ------------ -----------
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
-------------------------------------------------------------------------
(Address of principal executive officer)
Regristrant's Telephone Number, 908-686-2000
-----------------
including area code:
n/a
-------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5 Other Events
------------
Attached herein as Annex A is a copy of the Monthly Statement sent to Class A-1,
Class A-2 and Class A-3 Noteholders with respect to the following Distribution
Dates:
A-1............................................................. 08-Jul-97
14-Jul-97
21-Jul-97
28-Jul-97
A-2............................................................. 16-Jul-97
A-3............................................................. 23-Jul-97
Item 7 Financial Statements and Exhibits
---------------------------------
The Quarterly Report on Form 10Q for the period ended September 30, 1996 which
has been filed with the Securities and Exchange Commission by AMBAC Inc., is
hereby incorporated into this Form 8-K.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Trans-World Insurance Co.
By: \s\ Harry Puglisi
---------------------
Name: Harry Puglisi
Title: Treasurer
Dated: Jul 31, 1997
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
================================================================================
CLASSNOTES TRUST 1997 - I
NOTEHOLDERS' STATEMENT PURSUANT TO SECTION 5.7 (A) OF THE SALE & SERVICING
AGREEMENT
CLASS A-1 DETERMINATION DATE 7/2/97
CUSIP # 182743-AG9 DISTRIBUTION DATE 7/8/97
RECORD DATE 7/3/97
================================================================================
<TABLE>
<CAPTION>
<S> <C> <C>
(I) AMOUNT OF PRINCIPAL BEING PAID OR DISTRIBUTED IN
RESPECT OF THE NOTES
CLASS A-1 NOTES 2,000,000.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 1,121.076233
(II) AMOUNT OF INTEREST BEING PAID OR DISTRIBUTED IN
RESPECT OF THE NOTES
CLASS A-1 NOTES 114,968.89
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 64.444444
(III) (A) AMOUNT OF NOTEHOLDERS' AUCTION RATE
INTEREST CARRYOVER BEING PAID OR DISTRIBUTED
IN RESPECT OF THE NOTES
CLASS A-1 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(B) REMAINING AMOUNT OF NOTEHOLDERS' AUCTION
RATE INTEREST CARRYOVER TO BE PAID OR DISTRIBUTED
IN RESPECT OF THE NOTES
CLASS A-1 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(IV) POOL BALANCE AT END OF PRECEDING COLLECTION PERIOD 255,037,981.18
(V) OUTSTANDING PRINCIPAL AMOUNT AFTER GIVING EFFECT TO
DISTRIBUTIONS ON THIS NOTE DISTRIBUTION DATE:
CLASS A-1 NOTES 87,200,000.00
(VI) APPLICABLE INTEREST RATE:
(A) IN GENERAL:
1. AUCTION RATE FOR THE PRIOR INTEREST PERIOD:
CLASS A-1 NOTES
PERIOD 1 5.695000%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
PERIOD 2 5.689000%
PERIOD 3 5.680000%
CURRENT RATE (BASED ON AUCTION) 5.800000%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
2. NET LOAN RATE
PERIOD 1 6.820000%
PERIOD 2 6.742500%
PERIOD 3 6.594000%
(B) AMOUNT OF INTEREST THAT WOULD HAVE BEEN PAID ON
SUCH NOTE DISTRIBUTION DATE IF INTEREST WAS
CALCULATED INSTEAD BASED ON THE NET LOAN RATE 130,707.73
(VII) (A) SERVICE FEE FOR RELATED COLLECTION PERIOD (PRO RATA) 28,886.86
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 16.192186
(B) SERVICE FEE CARRYOVER FOR RELATED COLLECTION PERIOD
1. DISTRIBUTED 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
2. REMAINING BALANCE 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(VIII) AMOUNT OF FEES FOR RELATED COLLECTION PERIOD:
1. ADMINISTRATION FEE (PRO RATA) 1,162.50
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.651626
2. AUCTION AGENT FEE (PRO RATA) 20,731.25
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 11.620656
3. INDENTURE TRUSTEE FEE (PRO RATA) 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
4. ELIGIBLE LENDER TRUSTEE FEE (PRO RATA) 1,295.99
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.726450
5. SURETY PROVIDER FEE (PRO RATA) 6,200.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 3.475336
(IX) AMOUNT OF PAYMENTS TO THE SURETY PROVIDER IN REIMBURSEMENT OF
PRIOR DRAWS UNDER ANY NOTE SURETY BOND OR CERTIFICATE SURETY BONDS 0.00
(X) AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED COLLECTION
PERIOD 0.00
(XI) AGGREGATE AMOUNT RECEIVED WITH RESPECT TO FINANCED STUDENT LOANS
FOR WHICH REALIZED LOSSES WERE ALLOCATED PREVIOUSLY 0.00
(XII) (A) AMOUNT OF THE DISTRIBUTION ATTRIBUTABLE TO AMOUNTS IN THE
RESERVE ACCOUNT 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(B) AMOUNT OF ANY OTHER WITHDRAWALS FROM THE RESERVE
ACCOUNT FOR SUCH DISTRIBUTION DATE 0.00
(C) AMOUNT IN THE RESERVE ACCOUNT 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(XIII) AMOUNT OF ANY DRAW REQUIRED TO BE MADE UNDER A NOTE SURETY
BOND (TOGETHER WITH ANY OTHER INFORMATION REQUIRED TO MAKE
SUCH DRAW) 0.00
(XIV) (A) PORTION (IF ANY) OF THE DISTRIBUTION ATTRIBUTABLE TO AMOUNTS ON
DEPOSIT IN THE PRE-FUNDING ACCOUNT 0.00
(B) AMOUNT IN THE PRE-FUNDING ACCOUNT 24,966,789.04
(XV) AGGREGATE AMOUNT (IF ANY) PAID BY THE ELIGIBLE LENDER TRUSTEE FOR
ADDITIONAL FINANCED STUDENT LOANS DURING THE PRECEDING COLLECTION
PERIOD 0.00
(XVI) AMOUNT IN THE PRE-FUNDING ACCOUNT AT THE END OF THE FUNDING PERIOD
TO BE DISTRIBUTED AS A PAYMENT OF PRINCIPAL IN RESPECT OF:
(A) CLASS A-1 NOTES 0.00
(B) CLASS A-1 NOTES (ONLY IF CLASS___ NOTES
HAVE BEEN PAID IN FULL) 0.00
(XVII) AGGREGATE AMOUNT (IF ANY) PAID FOR FINANCED STUDENT LOANS DURING
THE PRECEDING COLLECTION PERIOD. 0.00
(XVIII) AS OF THE END OF THE PRECEDING COLLECTION PERIOD:
(A) NUMBER OF FINANCED STUDENT LOANS THAT ARE 30 TO 60 DAYS 983,970.12
DELINQUENT
(B) NUMBER OF FINANCED STUDENT LOANS THAT ARE 61 TO 90 DAYS 545,016.65
DELINQUENT
(C) NUMBER OF FINANCED STUDENT LOANS THAT ARE 91 TO 180 DAYS 319,449.65
DELINQUENT
(D) NUMBER OF FINANCED STUDENT LOANS THAT ARE MORE THAN 181 0.00
DAYS DELINQUENT
(E) NUMBER OF FINANCED STUDENT LOANS FOR WHICH CLAIMS HAVE
BEEN FILED WITH THE APPROPRIATE GUARANTOR AND WHICH ARE
AWAITING PAYMENT 19,489.21
(XIX) PARITY PERCENTAGE NUMERATOR 299,758,598.57
--------------
AS OF 5/31/97 DENOMINATOR 299,699,064.13 100.02%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(XX) EXCESS OF AMOUNTS DEPOSITED INTO THE COLLECTION
ACCOUNT WITH RESPECT TO THE SALE BY THE TRUST OF
SERIAL LOANS OVER THE AGGREGATE PURCHASE AMOUNT
OF SUCH LOANS (SUCH EXCESS TO BE DISTRIBUTED TO
STUDENT HOLDINGS) 2,266.23
(XXI) AMOUNT OF ADDITIONAL PRINCIPAL PAYMENTS, IF ANY, MADE ON
SUCH DISTRIBUTION DATE 0.00
</TABLE>
THE MONEY STORE, INC.
BY: \S\ HARRY PUGLISI
- ----------------------
HARRY PUGLISI
TREASURER
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
<TABLE>
<CAPTION>
======================================================================================================================
CLASSNOTES TRUST 1997 - I
NOTEHOLDERS' STATEMENT PURSUANT TO SECTION 5.7 (A) OF THE SALE & SERVICING AGREEMENT
CLASS A-1 DETERMINATION DATE 7/8/97
CUSIP # 182743-AG9 DISTRIBUTION DATE 7/14/97
RECORD DATE 7/10/97
======================================================================================================================
<S> <C> <C>
(I) AMOUNT OF PRINCIPAL BEING PAID OR DISTRIBUTED IN
RESPECT OF THE NOTES
CLASS A-1 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(II) AMOUNT OF INTEREST BEING PAID OR DISTRIBUTED IN
RESPECT OF THE NOTES
CLASS A-1 NOTES 82,840.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 47.500000
(III) (A) AMOUNT OF NOTEHOLDERS' AUCTION RATE
INTEREST CARRYOVER BEING PAID OR DISTRIBUTED
IN RESPECT OF THE NOTES
CLASS A-1 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(B) REMAINING AMOUNT OF NOTEHOLDERS' AUCTION
RATE INTEREST CARRYOVER TO BE PAID OR DISTRIBUTED
IN RESPECT OF THE NOTES
CLASS A-1 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(IV) POOL BALANCE AT END OF PRECEDING COLLECTION PERIOD 255,037,981.18
(V) OUTSTANDING PRINCIPAL AMOUNT AFTER GIVING EFFECT TO
DISTRIBUTIONS ON THIS NOTE DISTRIBUTION DATE:
CLASS A-1 NOTES 87,200,000.00
(VI) APPLICABLE INTEREST RATE:
(A) IN GENERAL:
1. AUCTION RATE FOR THE PRIOR INTEREST PERIOD:
CLASS A-1 NOTES
PERIOD 1 5.689000%
PERIOD 2 5.680000%
PERIOD 3 5.800000%
CURRENT RATE (BASED ON AUCTION) 5.700000%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
2. NET LOAN RATE
PERIOD 1 6.820000%
PERIOD 2 6.742500%
PERIOD 3 6.594000%
(B) AMOUNT OF INTEREST THAT WOULD HAVE BEEN PAID
ON SUCH NOTE DISTRIBUTION DATE IF INTEREST WAS
CALCULATED INSTEAD BASED ON THE NET LOAN RATE 95,832.80
(VII) (A) SERVICE FEE FOR RELATED COLLECTION PERIOD (PRO RATA) 28,886.86
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 16.563567
(B) SERVICE FEE CARRYOVER FOR RELATED COLLECTION PERIOD
1. DISTRIBUTED 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
2. REMAINING BALANCE 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(VIII) AMOUNT OF FEES FOR RELATED COLLECTION PERIOD:
1. ADMINISTRATION FEE (PRO RATA) 1,162.50
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.666571
2. AUCTION AGENT FEE (PRO RATA) 20,731.25
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 11.887185
3. INDENTURE TRUSTEE FEE (PRO RATA) 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
4. ELIGIBLE LENDER TRUSTEE FEE (PRO RATA) 1,295.99
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.743112
5. SURETY PROVIDER FEE (PRO RATA) 6,200.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 3.555046
(IX) AMOUNT OF PAYMENTS TO THE SURETY PROVIDER IN REIMBURSEMENT
OF PRIOR DRAWS UNDER ANY NOTE SURETY BOND OR CERTIFICATE
SURETY BOND 0.00
(X) AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED COLLECTION
PERIOD 0.00
(XI) AGGREGATE AMOUNT RECEIVED WITH RESPECT TO FINANCED STUDENT
LOANS FOR WHICH REALIZED LOSSES WERE ALLOCATED PREVIOUSLY 0.00
(XII) (A) AMOUNT OF THE DISTRIBUTION ATTRIBUTABLE TO AMOUNTS
IN THE RESERVE ACCOUNT 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(B) AMOUNT OF ANY OTHER WITHDRAWALS FROM THE RESERVE
ACCOUNT FOR SUCH DISTRIBUTION DATE 0.00
(C) AMOUNT IN THE RESERVE ACCOUNT 0.00
(XIII ) AMOUNT OF ANY DRAW REQUIRED TO BE MADE UNDER A NOTE SURETY
BOND (TOGETHER WITH ANY OTHER INFORMATION REQUIRED TO MAKE
SUCH DRAW) 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
(XIV) (A) PORTION (IF ANY) OF THE DISTRIBUTION ATTRIBUTABLE TO AMOUNTS ON
DEPOSIT IN THE PRE-FUNDING ACCOUNT 0.00
(B) AMOUNT IN THE PRE-FUNDING ACCOUNT 24,966,789.04
(XV) AGGREGATE AMOUNT (IF ANY) PAID BY THE ELIGIBLE LENDER TRUSTEE FOR
ADDITIONAL FINANCED STUDENT LOANS DURING THE PRECEDING COLLECTION
PERIOD 0.00
(XVI) AMOUNT IN THE PRE-FUNDING ACCOUNT AT THE END OF THE FUNDING PERIOD
TO BE DISTRIBUTED AS A PAYMENT OF PRINCIPAL IN RESPECT OF:
(A) CLASS A-1 NOTES 0.00
(B) CLASS A-1 NOTES (ONLY IF CLASS___ NOTES
HAVE BEEN PAID IN FULL) 0.00
(XVII) AGGREGATE AMOUNT (IF ANY) PAID FOR FINANCED STUDENT LOANS DURING
THE PRECEDING COLLECTION PERIOD. 0.00
(XVIII) AS OF THE END OF THE PRECEDING COLLECTION PERIOD:
(A) NUMBER OF FINANCED STUDENT LOANS THAT ARE 30 TO 60 DAYS 983,970.12
DELINQUENT
(B) NUMBER OF FINANCED STUDENT LOANS THAT ARE 61 TO 90 DAYS 545,016.65
DELINQUENT
(C) NUMBER OF FINANCED STUDENT LOANS THAT ARE 91 TO 180 DAYS 319,449.65
DELINQUENT
(D) NUMBER OF FINANCED STUDENT LOANS THAT ARE MORE THAN 181 0.00
DAYS DELINQUENT
(E) NUMBER OF FINANCED STUDENT LOANS FOR WHICH CLAIMS HAVE
BEEN FILED WITH THE APPROPRIATE GUARANTOR AND WHICH ARE
AWAITING PAYMENT 19,489.21
(XIX) PARITY PERCENTAGE NUMERATOR 299,758,598.57
--------------
AS OF 5/31/97 DENOMINATOR 299,699,064.13 100.02%
(XX) EXCESS OF AMOUNTS DEPOSITED INTO THE COLLECTION
ACCOUNT WITH RESPECT TO THE SALE BY THE TRUST OF
SERIAL LOANS OVER THE AGGREGATE PURCHASE AMOUNT
OF SUCH LOANS (SUCH EXCESS TO BE DISTRIBUTED TO
STUDENT HOLDINGS) 2,266.23
(XXI) AMOUNT OF ADDITIONAL PRINCIPAL PAYMENTS, IF ANY, MADE ON
SUCH DISTRIBUTION DATE 0.00
</TABLE>
THE MONEY STORE, INC.
BY: \S\ HARRY PUGLISI
- ----------------------
HARRY PUGLISI
TREASURER
<PAGE>
<TABLE>
<CAPTION>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
==============================================================================================================================
CLASSNOTES TRUST 1997 - I
NOTEHOLDERS' STATEMENT PURSUANT TO SECTION 5.7 (A) OF THE SALE & SERVICING AGREEMENT
CLASS A-1 DETERMINATION DATE 07/15/97
CUSIP # 182743-AG9 DISTRIBUTION DATE 07/21/97
RECORD DATE 07/17/97
==============================================================================================================================
<S> <C> <C>
(I) AMOUNT OF PRINCIPAL BEING PAID OR DISTRIBUTED IN
RESPECT OF THE NOTES
CLASS A-1 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(II) AMOUNT OF INTEREST BEING PAID OR DISTRIBUTED IN
RESPECT OF THE NOTES
CLASS A-1 NOTES 95,798.89
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 54.930556
(III) (A) AMOUNT OF NOTEHOLDERS' AUCTION RATE
INTEREST CARRYOVER BEING PAID OR DISTRIBUTED
IN RESPECT OF THE NOTES
CLASS A-1 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(B) REMAINING AMOUNT OF NOTEHOLDERS' AUCTION
RATE INTEREST CARRYOVER TO BE PAID OR DISTRIBUTED
IN RESPECT OF THE NOTES
CLASS A-1 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(IV) POOL BALANCE AT END OF PRECEDING COLLECTION PERIOD 255,037,981.18
(V) OUTSTANDING PRINCIPAL AMOUNT AFTER GIVING EFFECT TO
DISTRIBUTIONS ON THIS NOTE DISTRIBUTION DATE:
CLASS A-1 NOTES 87,200,000.00
(VI) APPLICABLE INTEREST RATE:
(A) IN GENERAL:
1. AUCTION RATE FOR THE PRIOR INTEREST PERIOD:
CLASS A-1 NOTES
PERIOD 1 5.680000%
PERIOD 2 5.800000%
PERIOD 3 5.700000%
CURRENT RATE (BASED ON AUCTION) 5.650000%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
2. NET LOAN RATE
PERIOD 1 6.820000%
PERIOD 2 6.742500%
PERIOD 3 6.594000%
(B) AMOUNT OF INTEREST THAT WOULD HAVE BEEN PAID
ON SUCH NOTE DISTRIBUTION DATE IF INTEREST WAS
CALCULATED INSTEAD BASED ON THE NET LOAN RATE 111,804.93
(VII) (A) SERVICE FEE FOR RELATED COLLECTION PERIOD (PRO RATA) 28,886.86
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 16.563567
(B) SERVICE FEE CARRYOVER FOR RELATED COLLECTION PERIOD
1. DISTRIBUTED 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
2. REMAINING BALANCE 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(VIII) AMOUNT OF FEES FOR RELATED COLLECTION PERIOD:
1. ADMINISTRATION FEE (PRO RATA) 1,162.50
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.666571
2. AUCTION AGENT FEE (PRO RATA) 20,731.25
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 11.887185
3. INDENTURE TRUSTEE FEE (PRO RATA) 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
4. ELIGIBLE LENDER TRUSTEE FEE (PRO RATA) 1,295.99
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.743112
5. SURETY PROVIDER FEE (PRO RATA) 6,200.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 3.555046
(IX) AMOUNT OF PAYMENTS TO THE SURETY PROVIDER IN REIMBURSEMENT
OF PRIOR DRAWS UNDER ANY NOTE SURETY BOND OR CERTIFICATE
SURETY BOND 0.00
(X) AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED COLLECTION
PERIOD 0.00
(XI) AGGREGATE AMOUNT RECEIVED WITH RESPECT TO FINANCED STUDENT
LOANS FOR WHICH REALIZED LOSSES WERE ALLOCATED PREVIOUSLY 0.00
(XII) (A) AMOUNT OF THE DISTRIBUTION ATTRIBUTABLE TO AMOUNTS
IN THE RESERVE ACCOUNT 0.00
(B) AMOUNT OF ANY OTHER WITHDRAWALS FROM THE RESERVE
ACCOUNT FOR SUCH DISTRIBUTION DATE 0.00
(C) AMOUNT IN THE RESERVE ACCOUNT 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(XIII ) AMOUNT OF ANY DRAW REQUIRED TO BE MADE UNDER A NOTE SURETY
BOND (TOGETHER WITH ANY OTHER INFORMATION REQUIRED TO MAKE
SUCH DRAW) 0.00
(XIV) (A) PORTION (IF ANY) OF THE DISTRIBUTION ATTRIBUTABLE TO AMOUNTS ON
DEPOSIT IN THE PRE-FUNDING ACCOUNT 0.00
(B) AMOUNT IN THE PRE-FUNDING ACCOUNT 24,966,789.04
(XV) AGGREGATE AMOUNT (IF ANY) PAID BY THE ELIGIBLE LENDER TRUSTEE FOR
ADDITIONAL FINANCED STUDENT LOANS DURING THE PRECEDING COLLECTION
PERIOD 0.00
(XVI) AMOUNT IN THE PRE-FUNDING ACCOUNT AT THE END OF THE FUNDING PERIOD
TO BE DISTRIBUTED AS A PAYMENT OF PRINCIPAL IN RESPECT OF:
(A) CLASS A-1 NOTES 0.00
(B) CLASS A-1 NOTES (ONLY IF CLASS___ NOTES
HAVE BEEN PAID IN FULL) 0.00
(XVII) AGGREGATE AMOUNT (IF ANY) PAID FOR FINANCED STUDENT LOANS DURING
THE PRECEDING COLLECTION PERIOD. 0.00
(XVIII) AS OF THE END OF THE PRECEDING COLLECTION PERIOD:
(A) NUMBER OF FINANCED STUDENT LOANS THAT ARE 30 TO 60 DAYS 983,970.12
DELINQUENT
(B) NUMBER OF FINANCED STUDENT LOANS THAT ARE 61 TO 90 DAYS 545,016.65
DELINQUENT
(C) NUMBER OF FINANCED STUDENT LOANS THAT ARE 91 TO 180 DAYS 319,449.65
DELINQUENT
(D) NUMBER OF FINANCED STUDENT LOANS THAT ARE MORE THAN 181 0.00
DAYS DELINQUENT
(E) NUMBER OF FINANCED STUDENT LOANS FOR WHICH CLAIMS HAVE
BEEN FILED WITH THE APPROPRIATE GUARANTOR AND WHICH ARE
AWAITING PAYMENT 19,489.21
(XIX) PARITY PERCENTAGE NUMERATOR 299,758,598.57
--------------
AS 5/31/97 DENOMINATOR 299,699,064.13 100.02%
(XX) EXCESS OF AMOUNTS DEPOSITED INTO THE COLLECTION
ACCOUNT WITH RESPECT TO THE SALE BY THE TRUST OF
SERIAL LOANS OVER THE AGGREGATE PURCHASE AMOUNT
OF SUCH LOANS (SUCH EXCESS TO BE DISTRIBUTED TO
STUDENT HOLDINGS) 2,266.23
(XXI) AMOUNT OF ADDITIONAL PRINCIPAL PAYMENTS, IF ANY, MADE ON
SUCH DISTRIBUTION DATE 0.00
</TABLE>
THE MONEY STORE, INC.
BY: \S\ HARRY PUGLISI
- ----------------------
HARRY PUGLISI
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
<TABLE>
<CAPTION>
==============================================================================================================================
CLASSNOTES TRUST 1997 - I
NOTEHOLDERS' STATEMENT PURSUANT TO SECTION 5.7 (A) OF THE SALE & SERVICING AGREEMENT
CLASS A-2 DETERMINATION DATE 7/10/97
CUSIP # 182743-AH7 DISTRIBUTION DATE 7/16/97
RECORD DATE 7/14/97
==============================================================================================================================
<S> <C> <C>
(I) AMOUNT OF PRINCIPAL BEING PAID OR DISTRIBUTED IN
RESPECT OF THE NOTES
CLASS A-2 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(II) AMOUNT OF INTEREST BEING PAID OR DISTRIBUTED IN
RESPECT OF THE NOTES
CLASS A-2 NOTES 411,504.33
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 221.238889
(III) (A) AMOUNT OF NOTEHOLDERS' AUCTION RATE
INTEREST CARRYOVER BEING PAID OR DISTRIBUTED
IN RESPECT OF THE NOTES
CLASS A-2 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(B) REMAINING AMOUNT OF NOTEHOLDERS' AUCTION
RATE INTEREST CARRYOVER TO BE PAID OR DISTRIBUTED
IN RESPECT OF THE NOTES
CLASS A-2 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(IV) POOL BALANCE AT END OF PRECEDING COLLECTION PERIOD 255,037,981.18
(V) OUTSTANDING PRINCIPAL AMOUNT AFTER GIVING EFFECT TO
DISTRIBUTIONS ON THIS NOTE DISTRIBUTION DATE:
CLASS A-2 NOTES 93,000,000.00
(VI) APPLICABLE INTEREST RATE:
(A) IN GENERAL:
1. AUCTION RATE FOR THE PRIOR INTEREST PERIOD:
CLASS A-2 NOTES
PERIOD 1 5.800000%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
PERIOD 2 5.700000%
PERIOD 3 5.800000%
CURRENT RATE (BASED ON AUCTION) 5.689000%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
2. NET LOAN RATE
MONTH 1 6.820000%
MONTH 2 6.742500%
MONTH 3 6.594000%
(B) AMOUNT OF INTEREST THAT WOULD HAVE BEEN PAID
ON SUCH NOTE DISTRIBUTION DATE IF INTEREST WAS
CALCULATED INSTEAD BASED ON THE NET LOAN RATE 481,569.50
(VII) (A) SERVICE FEE FOR RELATED COLLECTION PERIOD (PRO RATA) 28,886.86
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 15.530570
(B) SERVICE FEE CARRYOVER FOR RELATED COLLECTION PERIOD
1. DISTRIBUTED 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
2. REMAINING BALANCE 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(VIII) AMOUNT OF FEES FOR RELATED COLLECTION PERIOD:
1. ADMINISTRATION FEE (PRO RATA) 1,162.50
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.625000
2. AUCTION AGENT FEE (PRO RATA) 20,731.25
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 11.145833
3. INDENTURE TRUSTEE FEE (PRO RATA) 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
4. ELIGIBLE LENDER TRUSTEE FEE (PRO RATA) 1,295.99
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.696768
5. SURETY PROVIDER FEE (PRO RATA) 6,200.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 3.333333
(IX) AMOUNT OF PAYMENTS TO THE SURETY PROVIDER IN
REIMBURSEMENT OF PRIOR DRAWS UNDER ANY NOTE
SURETY BOND OR THE CERTIFICATE SURETY BOND 0.00
(X) AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE
RELATED COLLECTION PERIOD 0.00
(XI) AGGREGATE AMOUNT RECEIVED WITH RESPECT TO FINANCED
STUDENT LOANS FOR WHICH REALIZED LOSSES WERE
ALLOCATED PREVIOUSLY 0.00
(XII) (A) AMOUNT OF THE DISTRIBUTION ATTRIBUTABLE TO AMOUNTS
IN THE RESERVE ACCOUNT 0.00
(B) AMOUNT OF ANY OTHER WITHDRAWALS FROM THE RESERVE
ACCOUNT FOR SUCH DISTRIBUTION DATE 0.00
(C) AMOUNT IN THE RESERVE ACCOUNT 0.00
(XIII ) AMOUNT OF ANY DRAW REQUIRED TO BE MADE UNDER A NOTE SURETY
BOND (TOGETHER WITH ANY OTHER INFORMATION REQUIRED TO MAKE
SUCH DRAW) 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(XIV) (A) PORTION (IF ANY) OF THE DISTRIBUTION ATTRIBUTABLE TO AMOUNTS ON
DEPOSIT IN THE PRE-FUNDING ACCOUNT 0.00
(B) AMOUNT IN THE PRE-FUNDING ACCOUNT 24,966,789.04
(XV) AGGREGATE AMOUNT IF ANY PAID BY THE ELIGIBLE LENDER TRUSTEE FOR
ADDITIONAL FINANCED STUDENT LOANS DURING THE PRECEDING COLLECTION
PERIOD 0.00
(XVI) AMOUNT IN THE PRE-FUNDING ACCOUNT AT THE END OF THE FUNDING PERIOD
TO BE DISTRIBUTED AS A PAYMENT OF PRINCIPAL IN RESPECT OF:
(A) CLASS A-1 NOTES 0.00
(B) CLASS A-1 NOTES (ONLY IF CLASS____ NOTES
HAVE BEEN PAID IN FULL) 0.00
(XVII) AGGREGATE AMOUNT (IF ANY) PAID FOR FINANCED STUDENT LOANS DURING
THE PRECEDING COLLECTION PERIOD. 0.00
(XVIII) AS OF THE END OF THE PRECEDING COLLECTION PERIOD:
(A) NUMBER OF FINANCED STUDENT LOANS THAT ARE 30 TO 60 DAYS 983,970.12
DELINQUENT
(B) NUMBER OF FINANCED STUDENT LOANS THAT ARE 61 TO 90 DAYS 545,016.65
DELINQUENT
(C) NUMBER OF FINANCED STUDENT LOANS THAT ARE 91 TO 180 DAYS 319,449.65
DELINQUENT
(D) NUMBER OF FINANCED STUDENT LOANS THAT ARE MORE THAN 181 0.00
DAYS DELINQUENT
(E) NUMBER OF FINANCED STUDENT LOANS FOR WHICH CLAIMS HAVE
BEEN FILED WITH THE APPROPRIATE GUARANTOR AND WHICH ARE
AWAITING PAYMENT 19,489.21
(XIX) PARITY PERCENTAGE NUMERATOR 299,758,598.57
--------------
AS OF 06/30/97 DENOMINATOR 299,699,064.13 100.02%
(XX) EXCESS OF AMOUNTS DEPOSITED INTO THE COLLECTION
ACCOUNT WITH RESPECT TO THE SALE BY THE TRUST OF
SERIAL LOANS OVER THE AGGREGATE PURCHASE AMOUNT
OF SUCH LOANS (SUCH EXCESS TO BE DISTRIBUTED TO
STUDENT HOLDINGS) 2,266.23
(XXI) AMOUNT OF ADDITIONAL PRINCIPAL PAYMENTS, IF ANY, MADE ON
SUCH DISTRIBUTION DATE 0.00
</TABLE>
THE MONEY STORE, INC.
BY: \S\ HARRY PUGLISI
- ----------------------
HARRY PUGLISI
TREASURER
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
<TABLE>
<CAPTION>
==============================================================================================================================
CLASSNOTES TRUST 1997 - I
NOTEHOLDERS' STATEMENT PURSUANT TO SECTION 5.7 (A) OF THE SALE & SERVICING AGREEMENT
CLASS A-3 DETERMINATION DATE 7/17/97
CUSIP # 182743-AJ3 DISTRIBUTION DATE 7/23/97
RECORD DATE 7/21/97
==============================================================================================================================
<S> <C> <C>
(I) AMOUNT OF PRINCIPAL BEING PAID OR DISTRIBUTED IN
RESPECT OF THE NOTES
CLASS A-3 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(II) AMOUNT OF INTEREST BEING PAID OR DISTRIBUTED IN
RESPECT OF THE NOTES
CLASS A-3 NOTES 421,166.67
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 221.666667
(III) (A) AMOUNT OF NOTEHOLDERS' AUCTION RATE
INTEREST CARRYOVER BEING PAID OR DISTRIBUTED
IN RESPECT OF THE NOTES
CLASS A-3 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(B) REMAINING AMOUNT OF NOTEHOLDERS' AUCTION
RATE INTEREST CARRYOVER TO BE PAID OR DISTRIBUTED
IN RESPECT OF THE NOTES
CLASS A-3 NOTES 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(IV) POOL BALANCE AT END OF PRECEDING COLLECTION PERIOD 277,844,768.01
(V) OUTSTANDING PRINCIPAL AMOUNT AFTER GIVING EFFECT TO
DISTRIBUTIONS ON THIS NOTE DISTRIBUTION DATE:
CLASS A-3 NOTES 95,000,000.00
(VI) APPLICABLE INTEREST RATE:
(A) IN GENERAL:
1. AUCTION RATE FOR THE PRIOR INTEREST PERIOD:
CLASS A-3 NOTES
PERIOD 1 5.700000%
PERIOD 2 5.700000%
PERIOD 3 5.700000%
CURRENT RATE (BASED ON AUCTION) 5.700000%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
2. NET LOAN RATE
MONTH 1 6.820000%
MONTH 2 6.742500%
MONTH 3 6.594000%
(B) AMOUNT OF INTEREST THAT WOULD HAVE BEEN PAID
ON SUCH NOTE DISTRIBUTION DATE IF INTEREST WAS
CALCULATED INSTEAD BASED ON THE NET LOAN RATE 489,182.71
(VII) (A) SERVICE FEE FOR RELATED COLLECTION PERIOD (PRO RATA) 33,071.46
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 17.406032
(B) SERVICE FEE CARRYOVER FOR RELATED COLLECTION PERIOD
1. DISTRIBUTED 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
2. REMAINING BALANCE 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
(VIII) AMOUNT OF FEES FOR RELATED COLLECTION PERIOD:
1. ADMINISTRATION FEE (PRO RATA) 1,187.50
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.625000
2. AUCTION AGENT FEE (PRO RATA) 21,422.29
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 11.274890
3. INDENTURE TRUSTEE FEE (PRO RATA) 0.00
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.000000
4. ELIGIBLE LENDER TRUSTEE FEE (PRO RATA) 1,340.90
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 0.705737
5. SURETY PROVIDER FEE (PRO RATA) 6,544.44
PER $50,000 ORIGINAL PRINCIPAL AMOUNT OF THE NOTES 3.444444
(IX) AMOUNT OF PAYMENTS TO THE SURETY PROVIDER IN
REIMBURSEMENT OF PRIOR DRAWS UNDER ANY NOTE
SURETY BOND OR THE CERTIFICATE SURETY BOND 0.00
(X) AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE
RELATED COLLECTION PERIOD 0.00
(XI) AGGREGATE AMOUNT RECEIVED WITH RESPECT TO FINANCED
STUDENT LOANS FOR WHICH REALIZED LOSSES WERE
ALLOCATED PREVIOUSLY 0.00
(XII) (A) AMOUNT OF THE DISTRIBUTION ATTRIBUTABLE TO AMOUNTS
IN THE RESERVE ACCOUNT 0.00
(B) AMOUNT OF ANY OTHER WITHDRAWALS FROM THE RESERVE
ACCOUNT FOR SUCH DISTRIBUTION DATE 0.00
(C) AMOUNT IN THE RESERVE ACCOUNT 0.00
(XIII ) AMOUNT OF ANY DRAW REQUIRED TO BE MADE UNDER A NOTE SURETY
</TABLE>
<PAGE>
<TABLE>
<S> <C>
BOND (TOGETHER WITH ANY OTHER INFORMATION REQUIRED TO MAKE
SUCH DRAW) 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(XIV) (A) PORTION (IF ANY) OF THE DISTRIBUTION ATTRIBUTABLE TO AMOUNTS ON
DEPOSIT IN THE PRE-FUNDING ACCOUNT 0.00
(B) AMOUNT IN THE PRE-FUNDING ACCOUNT 405,371.73
(XV) AGGREGATE AMOUNT IF ANY PAID BY THE ELIGIBLE LENDER TRUSTEE FOR
ADDITIONAL FINANCED STUDENT LOANS DURING THE PRECEDING COLLECTION
PERIOD 0.00
(XVI) AMOUNT IN THE PRE-FUNDING ACCOUNT AT THE END OF THE FUNDING PERIOD
TO BE DISTRIBUTED AS A PAYMENT OF PRINCIPAL IN RESPECT OF:
(A) CLASS A-1 NOTES 0.00
(B) CLASS A-1 NOTES (ONLY IF CLASS____ NOTES
HAVE BEEN PAID IN FULL) 0.00
(XVII) AGGREGATE AMOUNT (IF ANY) PAID FOR FINANCED STUDENT LOANS DURING
THE PRECEDING COLLECTION PERIOD. 0.00
(XVIII) AS OF THE END OF THE PRECEDING COLLECTION PERIOD:
(A) NUMBER OF FINANCED STUDENT LOANS THAT ARE 30 TO 60 DAYS 1,053,677.80
DELINQUENT
(B) NUMBER OF FINANCED STUDENT LOANS THAT ARE 61 TO 90 DAYS 482,916.00
DELINQUENT
(C) NUMBER OF FINANCED STUDENT LOANS THAT ARE 91 TO 180 DAYS 529,482.13
DELINQUENT
(D) NUMBER OF FINANCED STUDENT LOANS THAT ARE MORE THAN 181 10,128.31
DAYS DELINQUENT
(E) NUMBER OF FINANCED STUDENT LOANS FOR WHICH CLAIMS HAVE
BEEN FILED WITH THE APPROPRIATE GUARANTOR AND WHICH ARE
AWAITING PAYMENT 10,875.00
(XIX) PARITY PERCENTAGE NUMERATOR 295,738,294.84
--------------
AS OF 06/30/97 DENOMINATOR 295,689,290.97 100.02%
(XX) EXCESS OF AMOUNTS DEPOSITED INTO THE COLLECTION
ACCOUNT WITH RESPECT TO THE SALE BY THE TRUST OF
SERIAL LOANS OVER THE AGGREGATE PURCHASE AMOUNT
OF SUCH LOANS (SUCH EXCESS TO BE DISTRIBUTED TO
STUDENT HOLDINGS) 2,665.11
(XXI) AMOUNT OF ADDITIONAL PRINCIPAL PAYMENTS, IF ANY, MADE ON
SUCH DISTRIBUTION DATE 0.00
</TABLE>
THE MONEY STORE, INC.
<PAGE>
BY: \S\ HARRY PUGLISI
- --------------------------------
HARRY PUGLISI
TREASURER
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