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Previous: MONEY STORE HOME IMPROVEMENT TRUST 1997-II, 8-K, 1997-12-30 |
Next: MONEY STORE AUTO TRUST 1997-2, 8-K, 1997-12-30 |
<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) December 15, 1997
----------------------
The Money Store Inc. (as Representative under a Pooling and Servicing Agreement
dated as of May 31, 1997 providing for the issuance of TMS Asset Backed
Certificates, Series 1997-B) and each of the Originators listed on Schedule A
attached hereto.
The Money Store, Inc.
---------------------
(Exact name of registrant as specified in its charter)
New Jersey 33-58128-35 upper tier 68-039-8956
- ---------- ----------- ----------------------
lower tier 91-186-4387
----------------------
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)
Registrant's Telephone Number,
including area code: (908) 686-2000
--------------
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 Certificate holders with respect to the December 15, 1997 Remittance
Date.
Item 7 Financial Statements and Exhibits
---------------------------------
The quarterly financial statement for the period ended September 30,
1996 for MBIA Inc. is incorporated by reference to the Form 10Q filed by MBIA
Inc. with the Securities and Exchange Commission on November 14, 1996.
<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.
THE MONEY STORE INC.
By: /s/ Harry Puglisi
-------------------------
Harry Puglisi
Treasurer
Dated: December 31, 1997
<PAGE>
Schedule A
List of Originators
-------------------
1997-B
------
The Money Store/Minnesota Inc.
The Money Store/D.C. Inc.
The Money Store/ Kentucky Inc.
The Money Store Home Equity Corp.
TMS Mortgage Inc.
<PAGE>
SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.10 OF THE POOLING AND SERVICING AGREEMENT
DATED AS OF MAY 31,1997, THE MONEY STORE INC. REPORTS THE FOLLOWING
INFORMATION PERTAINING TO SERIES 1997-B FOR THE DECEMBER 10, 1997
DETERMINATION DATE.
<TABLE>
<CAPTION>
POOL I POOL II POOL III
<S> <C> <C> <C>
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $14,613,152.39 $12,320,857.38 $77,933.87
ADJ : RECALCULATION 0.00 0.00 0.00
-----------------------------------------------------
14,613,152.39 12,320,857.38 77,933.87
LESS: SERVICE FEE (7.03 & 5.04) 92,920.30 64,603.56 1,600.79
CONTINGENCY FEE (7.03 & 5.04) 92,920.30 64,603.56 1,600.79
OTHER SERVICER FEES (Late Charges / Escrow) (7.03 & 5.04) 107,083.29 72,683.34 74.27
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00
-----------------------------------------------------
292,923.89 201,890.46 3,275.85
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 502,158.14 444,770.72 13,210.94
PRE-FUNDING ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00
-----------------------------------------------------
502,158.14 444,770.72 13,210.94
LESS: EXCESS SPREAD (I-19) 1,937,687.69 1,394,490.46 26,667.94
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00
-----------------------------------------------------
1,937,687.69 1,394,490.46 26,667.94
- -
AVAILABLE REMITTANCE AMOUNT 12,884,698.95 11,169,247.18 61,201.02
=====================================================
<CAPTION>
<S> <C>
2. (A) CLASS A-1 PRINCIPAL BALANCE AS REPORTED 40,849,696.90
IN PRIOR SERVICER'S CERTIFICATE
(B) CLASS A-2 PRINCIPAL BALANCE AS REPORTED 84,500,000.00
IN PRIOR SERVICER'S CERTIFICATE
(C) CLASS A-3 PRINCIPAL BALANCE AS REPORTED 105,400,000.00
IN PRIOR SERVICER'S CERTIFICATE
(D) CLASS A-4 PRINCIPAL BALANCE AS REPORTED 57,500,000.00
IN PRIOR SERVICER'S CERTIFICATE
(E) CLASS A-5 PRINCIPAL BALANCE AS REPORTED 52,800,000.00
IN PRIOR SERVICER'S CERTIFICATE
(F) CLASS A-6 PRINCIPAL BALANCE AS REPORTED 49,000,000.00
IN PRIOR SERVICER'S CERTIFICATE
(G) CLASS A-7 PRINCIPAL BALANCE AS REPORTED 65,300,000.00
IN PRIOR SERVICER'S CERTIFICATE
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(H) CLASS A-8 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 55,000,000.00
(I) CLASS A-9 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 233,632,811.72
(J) CLASS A-10 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 140,000,000.00
(K) CLASS A-11 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 9,166,657.50
3. PRINCIPAL DISTRIBUTION AMOUNTS :
CLASS A-1 11,907,374.14
CLASS A-2 0.00
CLASS A-3 0.00
CLASS A-4 0.00
CLASS A-5 0.00
CLASS A-6 0.00
CLASS A-7 0.00
CLASS A-8 0.00
TOTAL POOL I PRINCIPAL DISTRIBUTION AMOUNT : 11,907,374.14
CLASS A-9 10,818,051.13
CLASS A-10 0.00
TOTAL POOL II PRINCIPAL DISTRIBUTION AMOUNT : 10,818,051.13
CLASS A-11 28,438.85
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT : 28,438.85
4.TOTAL AMOUNT OF POOL I, II & III
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 7,307,048.39
POOL II 5,710,726.95
POOL III 128,683.90
(B) SPECIFIED SUBORDINATED AMOUNT
POOL I 14,025,000.00
POOL II 15,375,000.00
POOL III 2,500,000.00
6. PRINCIPAL PREPAYMENT RECEIVED DURING
THE DUE PERIOD # ACCOUNTS DOLLARS
POOL I 204 8,973,970.00
POOL II 89 8,229,240.64
POOL III 1 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 600,754.59
POOL II 1,171,235.46
POOL III 0.00
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 580,802.46
POOL II 152,291.69
POOL III 4,259.57
9. AMOUNT OF INTEREST RECEIVED
POOL I 4,350,542.05
POOL II 2,695,406.25
POOL III 72,887.11
10. (A) AMOUNT OF MONTHLY ADVANCES INCLUDING COMPENSATING
INTEREST TO BE MADE ON THE DETERMINATION DATE
TO BE DEPOSITED IN THE CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.01 (a) (ii)
POOL I 502,158.14
POOL II 444,770.72
POOL III 13,210.94
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 434.60
POOL II 718.60
POOL III 0.00
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
THE DUE PERIOD
POOL I 1,554.83
POOL II 8,705.29
POOL III 0.00
13. CLASS A-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 217,694.84
(B) PRINCIPAL DISTRIBUTION AMOUNT 11,907,374.14
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-1 REMITTANCE AMOUNT 12,125,068.98
CLASS A-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 452,075.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-2 REMITTANCE AMOUNT 452,075.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS A-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 572,673.33
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-3 REMITTANCE AMOUNT 572,673.33
CLASS A-4 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 318,166.67
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-4 REMITTANCE AMOUNT 318,166.67
CLASS A-5 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 300,300.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-5 REMITTANCE AMOUNT 300,300.00
CLASS A-6 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 282,975.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-6 REMITTANCE AMOUNT 282,975.00
CLASS A-7 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 395,337.08
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-7 REMITTANCE AMOUNT 395,337.08
CLASS A-8 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 316,250.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-8 REMITTANCE AMOUNT 316,250.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
POOL I REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 2,855,471.93
(B) PRINCIPAL DISTRIBUTION AMOUNT 11,907,374.14
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 14,762,846.07
CLASS A-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,051,672.14
(B) PRINCIPAL DISTRIBUTION AMOUNT 10,818,051.13
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-9 REMITTANCE AMOUNT 11,869,723.27
CLASS A-10 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 619,577.78
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS A-10 REMITTANCE AMOUNT 619,577.78
POOL II REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,671,249.92
(B) PRINCIPAL DISTRIBUTION AMOUNT 10,818,051.13
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL II REMITTANCE AMOUNT 12,489,301.05
CLASS A-11 (POOL III) REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 54,847.17
(B) PRINCIPAL DISTRIBUTION AMOUNT 28,438.85
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL III REMITTANCE AMOUNT 83,286.02
14.(A) REIMBURSABLE AMOUNTS 0.00
(B) CLASS X REMITTANCE AMOUNT PAYABLE PURSUANT
TO SECTION 6.08(d) (iii) AND ( iv)
POOL I 0.00
POOL II (0.00)
POOL III 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
15.(A) CLASS A-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 28,942,322.76
(B) CLASS A-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 84,500,000.00
(C) CLASS A-3 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 105,400,000.00
(D) CLASS A-4 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 57,500,000.00
(E) CLASS A-5 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 52,800,000.00
(F) CLASS A-6 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 49,000,000.00
(G) CLASS A-7 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 65,300,000.00
(H) CLASS A-8 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 55,000,000.00
(i) CLASS A-9 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 222,814,760.59
(j) CLASS A-10 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 140,000,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(K) CLASS A-11 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 9,138,218.65
(L) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 498,442,322.76
(M) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 362,814,760.59
(N) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 9,138,218.65
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II AND III) 100.00%
(B) EXCESS SPREAD (POOL I) 1,937,687.69
EXCESS SPREAD (POOL II) 1,394,490.46
EXCESS SPREAD (POOL III) 26,667.94
TOTAL EXCESS SPREAD (POOL I, II and III) 3,358,846.09
(C) REMAINDER EXCESS SPREAD AMOUNT POOL I 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL II 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL III 0.00
TOTAL REMAINDER EXCESS SPREAD AMOUNT POOL I, II and III 0.00
17. CUMULATIVE REALIZED LOSSES
POOL I 40,730.50
POOL II 8,705.29
POOL III 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 277.612
POOL II 352.410
POOL III 324.540
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 11.676%
POOL II 10.410%
POOL III 11.479%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 92,920.30
POOL II 64,603.56
POOL III 1,600.79
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 92,920.30
POOL II 64,603.56
POOL III 1,600.79
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 21,264.57
POOL II 15,568.03
POOL III 381.94
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 38,276.00
POOL II 37,363.00
POOL III 4,201.00
(F) CLASS A-11 AUCTION AGENT FEE 21,505.56
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE
SERVICERS PURSUANT TO: POOL I POOL II
(A) SECTION 5.04 (b) 0.00 0.00
(B) SECTION 5.04 (c) 0.00 0.00
(C) SECTION 5.04 (d)(ii) 0.00 0.00
(D) SECTION 5.04 (e) 0.00 0.00
(E) SECTION 5.04 (f)(i) 185,840.60 129,207.12
POOL III
(A) SECTION 5.04 (b) 0.00
(B) SECTION 5.04 (c) 0.00
(C) SECTION 5.04 (d)(ii) 0.00
(D) SECTION 5.04 (e) 0.00
(E) SECTION 5.04 (f)(i) 3,201.58
21. CLASS A-1 POOL FACTOR (I-5):
CURRENT CLASS A-1 PRINCIPAL BALANCE 28,942,322.76 0.35953196
ORIGINAL CLASS A-1 PRINCIPAL BALANCE 80,500,000.00
CLASS A-2 POOL FACTOR (I-5):
CURRENT CLASS A-2 PRINCIPAL BALANCE 84,500,000.00 1.00000000
ORIGINAL CLASS A-2 PRINCIPAL BALANCE 84,500,000.00
CLASS A-3 POOL FACTOR (I-5):
CURRENT CLASS A-3 PRINCIPAL BALANCE 105,400,000.00 1.00000000
ORIGINAL CLASS A-3 PRINCIPAL BALANCE 105,400,000.00
CLASS A-4 POOL FACTOR (I-5):
CURRENT CLASS A-4 PRINCIPAL BALANCE 57,500,000.00 1.00000000
ORIGINAL CLASS A-4 PRINCIPAL BALANCE 57,500,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS A-5 POOL FACTOR (I-5):
CURRENT CLASS A-5 PRINCIPAL BALANCE 52,800,000.00 1.00000000
ORIGINAL CLASS A-5 PRINCIPAL BALANCE 52,800,000.00
CLASS A-6 POOL FACTOR (I-5):
CURRENT CLASS A-6 PRINCIPAL BALANCE 49,000,000.00 1.00000000
ORIGINAL CLASS A-6 PRINCIPAL BALANCE 49,000,000.00
CLASS A-7 POOL FACTOR (I-5):
CURRENT CLASS A-7 PRINCIPAL BALANCE 65,300,000.00 1.00000000
ORIGINAL CLASS A-7 PRINCIPAL BALANCE 65,300,000.00
CLASS A-8 POOL FACTOR (I-5):
CURRENT CLASS A-8 PRINCIPAL BALANCE 55,000,000.00 1.00000000
ORIGINAL CLASS A-8 PRINCIPAL BALANCE 55,000,000.00
POOL I FACTOR:
CURRENT POOL I PRINCIPAL BALANCE 498,442,322.76 0.90625877
ORIGINAL POOL I PRINCIPAL BALANCE 550,000,000.00
CLASS A-9 POOL FACTOR:
CURRENT CLASS A-10 PRINCIPAL BALANCE 222,814,760.59 0.82523985
ORIGINAL CLASS A-10 PRINCIPAL BALANCE 270,000,000.00
CLASS A-10 POOL FACTOR (I-5):
CURRENT CLASS A-11 PRINCIPAL BALANCE 140,000,000.00 1.00000000
ORIGINAL CLASS A-11 PRINCIPAL BALANCE 140,000,000.00
POOL II FACTOR:
CURRENT POOL II PRINCIPAL BALANCE 362,814,760.59 0.88491405
ORIGINAL POOL II PRINCIPAL BALANCE 410,000,000.00
CLASS A-11 (POOL III FACTOR (I-5):
CURRENT CLASS A-12 PRINCIPAL BALANCE 9,138,218.65 0.91382187
ORIGINAL CLASS A-12 PRINCIPAL BALANCE 10,000,000.00
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 11.676%
POOL II 10.410%
POOL III 11.479%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 11.036%
POOL II 9.543%
POOL III 10.379%
(C) WEIGHTED AVERAGE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-5, CLASS A-6,
CLASS A-7, CLASS A-8 AND CLASS A-9 ADJUST MORTGAGE LOAN REMITTANCE RATE 6.862%
CLASS A-10 AND CLASS A-11 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.996%
CLASS A-12 ADJUSTED MORTGAGE LOAN REMITTANCE RATE 7.780%
<CAPTION>
<S> <C> <C> <C>
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 09/30/97 10/31/97 11/30/97
POOL I 11.678% 11.680% 11.676%
POOL II 10.270% 10.342% 10.410%
POOL III 11.479% 11.479% 11.479%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
23. CLASS A-9 REMITTANCE RATE 5.78750%
CLASS A-10 REMITTANCE RATE (BASED ON AUCTION RATE) 5.6900%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS A-9 N/A
AUCTION FEE FOR CLASS A-10 N/A
24. (A) LIBOR RATE 5.68750%
(B) AUCTION RATE 5.690%
25. POOL II NET FUNDS CAP (RATE) 9.870%
CLASS A-9 NET FUNDS CAP 0.00
CLASS A-10 NET FUNDS CAP 0.00
26. CLASS A-9 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
CLASS A-10 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
0.00
27. (A) AMOUNT OF DISTRIBUTION ALLOCABLE TO LIBOR
INTEREST CARRYOVER 0.00
(B) LIBOR INTEREST CARRYOVER BALANCE 0.00
28. OTHER INFORMATION
SPREAD ACCOUNT BALANCES
POOL I 0.00
POOL II 0.00
POOL III 0.00
</TABLE>
<PAGE>
EXHIBIT O ( POOL I )
REMIC DELINQUENCIES AS OF -NOVEMBER 30, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1997-B-I $507,501,218.24 11463 1 TO 29 DAYS 76,502,954.91 1806 15.07%
30 TO 59 DAYS 12,231,187.51 264 2.41%
60 TO 89 DAYS 5,301,448.67 109 1.04%
90 AND OVER 5,999,883.07 114 1.18%
FORECLOSURE 791,985.33 9 0.16%
REO PROPERTY 0.00 0 0.00%
TOTALS $100,827,459.49 2,302 19.87%
============================================
<CAPTION>
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -NOVEMBER 30, 1997
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1997-B-II $369,790,770.88 4549 1 TO 29 DAYS 55,963,551.82 719 15.13%
30 TO 59 DAYS 9,696,409.46 121 2.62%
60 TO 89 DAYS 4,482,528.48 57 1.21%
90 AND OVER 5,288,945.64 71 1.43%
FORECLOSURE 1,347,132.09 14 0.36%
REO PROPERTY 0.00 0 0.00%
TOTALS $76,778,567.49 982 20.76%
===========================================
</TABLE>
<PAGE>
EXHIBIT O ( POOL III )
REMIC DELINQUENCIES AS OF -NOVEMBER 30, 1997
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C>
1997-B-III 9,290,368.91 48 1 TO 29 DAYS 162,500.00 1 1.75%
30 TO 59 DAYS 269,000.00 1 2.90%
60 TO 89 DAYS 0.00 0 0.00%
90 AND OVER 273,000.00 1 2.94%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $704,500.00 3 7.58%
===========================================
</TABLE>
<PAGE>
1997-B
The following additional information, presented in dollars, pursuant to Section
6.10 subclauses (ii), (vi), (vii), (viii), (xiii), (xv), (xxxvi) is provided for
each Class per $1,000 (or per $25,000 for Class A-10) original dollar amount as
of the Cut-Off Date.
<TABLE>
<CAPTION>
POOL I
SUBCLAUSE CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(ii) 507.45 1,000.00 1,000.00 1,000.00
(vi) 111.48 0.00 0.00 0.00
(vii) 7.46 0.00 0.00 0.00
(viii) 7.21 0.00 0.00 0.00
(xiii) (a) 2.70 5.35 5.43 5.53
(b) 147.92 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00
(xv) 359.53 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00
<CAPTION>
SUBCLAUSE CLASS A-5 CLASS A-6 CLASS A-7 CLASS A-8
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 1,000.00 1,000.00
(vi) 0.00 0.00 0.00 0.00
(vii) 0.00 0.00 0.00 0.00
(viii) 0.00 0.00 0.00 0.00
(xiii) (a) 5.69 5.78 6.05 5.75
(b) 0.00 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00
(xv) 1,000.00 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00
<CAPTION>
POOL II POOL III
SUBCLAUSE CLASS A-9 CLASS A-10 CLASS A-11
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
(ii) 865.31 2,500.00 916.67
(vi) 0.00 0.00 0.07
(vii) 0.56 0.00 0.00
(viii) 0.00 0.00 0.43
(xiii) (a) 3.90 11.06 5.48
(b) 40.07 0.00 2.84
(c) 0.00 0.00 0.00
(d) 0.00 0.00 0.00
(xv) 825.24 2,500.00 913.82
(xxxvi) 0.00 0.00 0.00
</TABLE>
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