<PAGE> 1
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 reported):
October 24, 1997
AMRESCO Residential Securities Corporation Mortgage Loan Trust 1997-3
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(Exact name of registrant as specified in its charter)
New York 333-30759-01 Application Pending
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
c/o The Bank of New York
101 Barclay Street, 12E
New York, NY 10286
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (214) 953-7700
No Change
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(Former name or former address, if changed since last report)
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<PAGE> 2
Item 2. Acquisition or Disposition of Assets.
Description of the Conveyance of Subsequent Mortgage Loans
On October 24, 1997, AMRESCO Residential Securities Corporation
Mortgage Loan Trust 1997-3 (the "Trust") acquired $22,991,870.39 of Subsequent
Mortgage Loans pursuant to the terms of the Pooling and Servicing Agreement
dated as of September 1, 1997, between AMRESCO Residential Capital Markets
Inc., as Seller, AMRESCO Residential Securities Corporation, as Depositor,
Option One Mortgage Corporation, as a Servicer, Advanta Mortgage Corp. USA, as
a Servicer and Long Beach Mortgage Company, as a Servicer and The Bank of New
York, in its capacity as Trustee (the "Pooling and Servicing Agreement") and a
Subsequent Transfer Agreement among AMRESCO Residential Capital Markets Inc.,
as Seller, AMRESCO Residential Securities Corporation, as Depositor and the
Trust, as purchaser dated October 24, 1997 (the "Subsequent Transfer
Agreement"). The Subsequent Mortgage Loans possess the characteristics
required by the Prospectus dated September 5, 1997, and the Prospectus
Supplement dated September 5, 1997, filed pursuant to Rule 424(b)(5) of the Act
on September 18, 1997. The Schedule of Subsequent Mortgage Loans are attached
to the Subsequent Transfer Agreement.
Item 7. Financial Statements. Pro Forma Financial Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
10.1 Subsequent Transfer Agreement dated as of October 24, 1997,
among AMRESCO Residential Securities Corporation, as
Depositor, AMRESCO Residential Capital Markets, Inc., as
Seller and AMRESCO Residential Securities Corporation Mortgage
Loan Trust 1997-3 as the Purchaser.
<PAGE> 3
SIGNATURE
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 hereunto duly authorized.
By: AMRESCO Residential Securities
Corporation Mortgage Loan Trust 1997-3
By: /s/ Ronald B. Kirkland
---------------------------------------
Name: Ronald B. Kirkland
Title: Vice President and
Chief Accounting Officer
Dated: October 28, 1997
<PAGE> 4
EXHIBIT INDEX
Description
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10.1 Subsequent Transfer Agreement dated as of October 24, 1997, among
AMRESCO Residential Securities Corporation, as Depositor, AMRESCO
Residential Capital Markets, Inc., as Seller and AMRESCO Residential
Securities Corporation Mortgage Loan Trust 1997-3 as the Purchaser.
<PAGE> 1
Exhibit 10.1
SUBSEQUENT TRANSFER AGREEMENT
AMRESCO Residential Securities Corporation (the "Depositor"), AMRESCO
Residential Capital Markets, Inc. (the "Seller"), and AMRESCO Residential
Securities Corporation Mortgage Loan Trust 1997-3 (the "Purchaser") pursuant to
the Pooling and Servicing Agreement dated as of September 1, 1997 among the
Depositor, the Seller, Option One Mortgage Corporation, Long Beach Mortgage
Company and Advanta Mortgage Corp. U.S.A., as Servicers and The Bank of New
York as Trustee (the "Pooling and Servicing Agreement"), hereby confirm their
understanding with respect to the sale by the Seller and the purchase by the
Depositor and the sale by the Depositor and the purchase by the Purchaser of
those Subsequent Mortgage Loans (the "Subsequent Mortgage Loans") listed on the
attached Schedule of Subsequent Mortgage Loans.
Conveyance of Subsequent Mortgage Loans. As of October 24, 1997 (the
"Subsequent Transfer Date"), the Seller does hereby irrevocably transfer,
assign, set over and otherwise convey to the Depositor and the Depositor does
hereby irrevocably transfer, assign, set over and otherwise convey to the
Purchaser, without recourse (except as otherwise explicitly provided for
herein) all right, title and interest in and to any and all benefits accruing
from the Subsequent Mortgage Loans, other than any principal received and
interest payments received thereon on or prior to October 1, 1997, (such date,
the "Subsequent Cut-Off Date") which are delivered to the Trustee herewith (and
all substitutions therefor as provided by Sections 3.04, 3.05 and 3.06 of the
Pooling and Servicing Agreement), together with the related Subsequent Mortgage
Loan documents and the interest in any Property which secured a Subsequent
Mortgage Loan but which has been acquired by foreclosure or deed in lieu of
foreclosure, and all payments thereon and proceeds of the conversion, voluntary
or involuntary, of the foregoing; and proceeds of all the foregoing
(including, but not by way of limitation, all proceeds of any mortgage
insurance, hazard insurance and title insurance policy relating to the
Subsequent Mortgage Loans, cash proceeds, accounts, accounts receivable, notes,
drafts, acceptances, chattel paper, checks, deposit accounts, rights to payment
of any and every kind, and other forms of obligations and receivables which at
any time constitute all or part of or are included in the proceeds of any of
the foregoing). The Seller shall deliver the original Mortgage or mortgage
assignment with evidence of recording thereon (except as otherwise provided by
the Pooling and Servicing Agreement) and other required documentation in
accordance with the terms set forth in Sections 3.05 and 3.07 of the Pooling
and Servicing Agreement.
The costs relating to the delivery of the documents specified in this
Subsequent Transfer Agreement and the Pooling and Servicing Agreement shall be
borne by the Seller.
The Seller hereby affirms the representations and warranties set forth
in the Pooling and Servicing Agreement that relate to the Seller and the
Subsequent Mortgage Loans as of the date hereof. The Seller hereby delivers
notice and confirms that each of the conditions set forth in Section 3.07(b)
and 3.07(c) to the Pooling and Servicing Agreement are satisfied as of the date
hereof.
Pursuant to Section 3.07(a) of the Pooling and Servicing Agreement,
the Seller hereby instructs the Trustee to release one-hundred percent of the
aggregate principal balances of the Subsequent Mortgage Loans so transferred
from the Pre-Funding Account, pursuant to this Subsequent Transfer Agreement
which shall include $22,991,870.39 of the Subsequent Mortgage Loans listed in
Schedule I hereto in Group II.
All terms and conditions of the Pooling and Servicing Agreement are
hereby ratified, confirmed and incorporated herein, provided that in the event
of any conflict the provisions of this Subsequent Transfer Agreement shall
control over the conflicting provisions of the Pooling and Servicing Agreement.
<PAGE> 2
Terms capitalized herein and not defined herein shall have their
respective meanings as set forth in the Pooling and Servicing Agreement.
AMRESCO RESIDENTIAL SECURITIES CORPORATION
as Depositor
By: /s/ Janice M. Cott
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Janice M. Cott, Vice President
AMRESCO RESIDENTIAL CAPITAL MARKETS, INC.
as Seller
By: /s/ Janice M. Cott
--------------------------------------------
Janice M. Cott, Vice President
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST 1997-3,
by The Bank of New York as Trustee
By: /s/ Franklin B. Austin
--------------------------------------------
Franklin B. Austin, Assistant Vice
President
Dated: October 24, 1997
2
<PAGE> 3
AMRESCO MORTGAGE LOAN SCHEDULE
1997-3 PREFUND 3 GROUP 2 ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
SERVICER AMRESCO LAST ZIP PROPERTY MATURITY
LOAN NUMBER LOAN NUMBER NAME ADDRESS CITY STATE CODE TYPE DATE
- ----------- ----------- ---- ------- ---- ----- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
2360477 2360477AD SHERIDAN 10401 CANARY ISLE DRIVE TAMPA FL 33647 SFR 11/15/26
2367324 2367324AD SMITH 2971 OLD TAVERN ROAD LISLE IL 60532 SFR 2/15/27
2886414 2886414AD HENDRICK 614 W. 30TH STREET INDIANAPOLI IN 46208 SFR 5/1/27
2887925 2887925AD FEATHERSTONE 549 11TH ST. S.E. WASHINGTON DC 20003 TOWNHOUSE 5/1/27
3153814 3153814AD PERSSON 606 EAST BEAVER MOROCCO IN 47963 SFR 5/1/27
3794922 3794922AD WEBSTER 1612-1614 MENDON ROAD CUMBERLAND RI 02864 SFR 4/1/27
3804549 3804549AD GILMARTIN 9A PILGRIMS HARBOR WILLINGFORD CT 06492 SFR 5/1/27
3851748 3851748AD COSPER 7844 WEST FULLERTON AVENUE ELMWOOD PK. IL 60607 2-4 UNITS 6/1/27
3852019 3852019AD MUNOZ 1779 29TH DRIVE YUMA AZ 85364 SFR 7/1/27
3852050 3852050AD HOWARD 609 40TH STREET SAN DIEGO CA 92102 SFR 7/1/27
3852233 3852233AD ENNIS 3740 38TH AVENUE OAKLAND CA 94619 2-4 UNITS 7/1/27
3856234 3856234AD NELSON 365 MARIA AVENUE ST. PAUL MN 55106 2-4 UNITS 7/1/27
3856259 3856259AD HANUCHOF 10636 WOODLEY AVENUE GRANADA HIL CA 91344 CONDO 7/1/27
3856267 3856267AD HANUCHOF 18547 COLLINS STREET TARZANA CA 91356 CONDO 7/1/27
3860277 3860277AD HANUCHOF 18640 COLLINS STREET TARZANA CA 91356 CONDO 7/1/27
3902566 3902566AD WEBSTER 1551 MENDON ROAD CUMBERLAND RI 02864 SFR 4/1/27
3902616 3902616AD WEBSTER 18 SCOTT ROAD CUMBERLAND RI 02864 SFR 4/1/27
3924354 3924354AD WILSON 106 ELM STREET PHOENIX OR 97535 SFR 7/1/27
3925146 3925146AD VASQUEZ 916 VERNON AVENUE BURLINGTON WA 98233 SFR 6/1/27
3925203 3925203AD ESTES 704 SMOKE SIGNAL PASS PFLUGERVILL TX 78660 SFR 7/1/27
3925534 3925534AD LARSON 440 WEST SPRUCE STREET SEQUIM WA 98382 SFR 5/1/27
3925591 3925591AD APPLEGET 1407 NE 56TH STREET #201 FT LAUDERDA FL 33334 CONDO 5/1/27
3925708 3925708AD WRIGHT 4836 TIVOLI AVENUE SARASOTA FL 34235 SFR 6/1/27
3925781 3925781AD HOWELL 28328 ANNAPOLIS INKSTER MI 48141 SFR 5/1/27
3925880 3925880AD ROTUNNO 8108 DIVERNON AVENUE LAS VEGAS NV 89129 SFR 5/1/27
3925971 3925971AD WEBB 947 EAST 169 STEET SO HOLLAND IL 60473 SFR 5/1/27
3926144 3926144AD STAUFFER 225 EAST STREET OREGON CITY OR 97045 SFR 7/1/27
3926177 3926177AD MUNRO 64 DUNBAR ROAD WEARE NH 03281 SFR 6/1/27
3926227 3926227AD GUFFEY 8107 NORTH LAKESHORE DRIVE LAKE POINT UT 84074 SFR 7/1/27
3926235 3926235AD SAPORETTI 47-49 BRIDGES STREET FARMINGHAM MA 01701 2-4 UNITS 7/1/27
3926268 3926268AD LANE 134 WPROSPECT STREET VENTURA CA 93001 SFR 6/1/27
3928801 3928801AD SCHMILLE 901 CYPRESS COURT COPPELL TX 75019 SFR 7/1/27
3950888 3950888AD YOUNG 25 E. 200 S. WALLSBURG UT 84082 SFR 7/1/27
10026177 10026177AD ALVARADO 702 SA INT JAMES DRIVE LAREDO TX 78041 SFR 10/1/27
10026292 10026292AD FECKO 10411 PARK HEIGHTS GARFIELD HE OH 44125 SFR 10/1/27
10026300 10026300AD BURKE 6502 SOUTH DAMEN CHICAGO IL 60636 2-4 UNITS 10/1/27
10026383 10026383AD COTSIBAS 32 HILL ROAD TILTON NH 03276 SFR 10/1/27
10026391 10026391AD PHILLIPS 99 ELBERTA STREET NASHVILLE TN 37210 SFR 10/1/27
10026441 10026441AD WEINSTEIN 949 CADILLAC DRIVE PALM BAY FL 32905 SFR 10/1/27
10028272 10028272AD OSBORNE 136 DEPEW ST. ROCHESTER NY 14611 SFR 9/1/27
10028389 10028389AD ST. DENIS 514-516 S. ALBANY ST. ITHACA NY 14850 SFR 7/1/27
10028413 10028413AD ST. DENIS 502 S. PLAIN ST. ITHACA NY 14850 SFR 7/1/27
10030294 10030294AD GRENIER 927 RIVER ROAD WEARE NH 03281 SFR 10/1/27
10030484 10030484AD FARRINGTON ROUTE 1 BOX 732 BLANCHARD OK 73010 SFR 10/1/27
10030526 10030526AD MORALES 610 WEST 1220 SOUTH PROVO UT 84601 SFR 10/1/27
10030609 10030609AD JOHNSON 1702 WEST EDMAIRE STREET CHICAGO IL 60643 SFR 10/1/27
10030708 10030708AD BRIMHALL 14546 SOUTH SHAGGY MOUNTAI HERRIMAN UT 84065 SFR 10/1/27
10032985 10032985AD CONNOLLY 6 ELIZABETH ST. NEWTOWN CT 06470 SFR 9/1/27
10034767 10034767AD AYER 2 PANORAMIC WAY, #301 BERKELEY CA 94704 CONDO 10/1/27
10034775 10034775AD ABE 53-882 POKIWAI WAY HAUULA HI 96717 SFR 10/1/27
10034783 10034783AD ELAYAN 38569 BELL ROAD WILLOUGHBY OH 44094 SFR 10/1/27
10034791 10034791AD AYER 2 PANORAMIC WAY, #206 BERKELEY CA 94704 CONDO 10/1/27
<CAPTION>
SERVICER 10/1/97 CURRENT CURRENT OCCUPANCY ORIGINAL DUE
LOAN NUMBER SCHEDULED BALANCE RATE P&I PAYMENT LTV STATUS TERM SERVICER ORIGINATOR DATE
- ----------- ----------------- ----- ----------- --- ------ ---- -------- ---------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
2360477 99539.72 9.99 876.83 62.5 OWNER 360 ADVANTA AAMES 9/15/97
2367324 146556.3 10.24 1316.18 70 OWNER 360 ADVANTA AAMES 9/15/97
2886414 25287.28 9.55 214.09 65 OWNER 360 ADVANTA AAMES 9/1/97
2887925 194590.21 10.32 1757.56 75 OWNER 360 ADVANTA AAMES 10/1/97
3153814 51304.03 12.25 538.36 75 OWNER 360 ADVANTA AAMES 9/1/97
3794922 78232.61 11.115 753.44 70 OWNER 360 ADVANTA AAMES 10/1/97
3804549 79846.54 10.745 746.48 80 OWNER 360 ADVANTA AAMES 9/1/97
3851748 119806.72 10.5 1097.69 43.64 OWNER 360 ADVANTA NEW CENTURY 10/1/97
3852019 53915.35 9.25 444.25 75 OWNER 360 ADVANTA NEW CENTURY 10/1/97
3852050 91822.78 8.25 691.17 80 NON OWNER 360 ADVANTA NEW CENTURY 10/1/97
3852233 49908.48 8.5 384.46 42.74 NON OWNER 360 ADVANTA NEW CENTURY 11/1/97
3856234 72296.88 11 689.24 75 NON OWNER 360 ADVANTA GREAT NORTHERN MORTGAGE CORP 9/1/97
3856259 24676.61 11.6 246.49 65 NON OWNER 360 ADVANTA MORTGAGE ASSOCIATES INC 10/1/97
3856267 35716.15 11.6 356.76 65 NON OWNER 360 ADVANTA MORTGAGE ASSOCIATES INC 10/1/97
3860277 39612.44 11.6 395.68 63.95 NON OWNER 360 ADVANTA MORTGAGE ASSOCIATES INC 10/1/97
3902566 84519.12 11.115 813.99 70 OWNER 360 ADVANTA AAMES 10/1/97
3902616 89408.66 11.115 861.08 70 OWNER 360 ADVANTA AAMES 10/1/97
3924354 97069.65 9.99 852.28 90 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 9/1/97
3925146 89889.51 11.75 908.47 66.67 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 9/1/97
3925203 65476.81 8.375 498.61 79.04 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 10/1/97
3925534 57048.13 9.25 470.57 80 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 10/1/97
3925591 38289.95 10.74 358.17 80 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 10/1/97
3925708 99847.38 10.75 933.48 53.19 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 10/1/97
3925781 47882.73 10.49 438.72 64 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 9/1/97
3925880 106559.28 9.99 936.46 80 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 9/1/97
3925971 101708.59 9.75 876.34 80 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 9/1/97
3926144 71104.72 10 624.83 80 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 10/1/97
3926177 89321.45 9.49 751.91 64.86 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 11/1/97
3926227 102369.42 10.375 928.04 68.11 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 10/1/97
3926235 126221.65 9.75 1085.97 80 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 11/1/97
3926268 87872.47 10.99 837.38 80 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 10/1/97
3928801 223236.51 9.99 1960.6 80 OWNER 360 ADVANTA FIRST COLONY FINANCIAL GROUP 10/1/97
3950888 97385.84 10.625 901 75 OWNER 360 ADVANTA PAN AMERICAN 9/1/97
10026177 118000 9.88 1025.09 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10026292 77600 9 624.39 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10026300 59500 11.38 583.78 70 OWNER 360 ADVANTA AMRESCO 11/1/97
10026383 148800 9.5 1251.19 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10026391 56025 11.5 554.81 90 OWNER 360 ADVANTA AMRESCO 11/1/97
10026441 62300 10.6 574.55 70 OWNER 360 ADVANTA AMRESCO 11/1/97
10028272 30089.27 11 286.65 70 NON OWNER 360 ADVANTA MARATHON CAPITAL LP 10/1/97
10028389 71913.39 10.5 658.62 80 NON OWNER 360 ADVANTA MARATHON CAPITAL LP 9/1/97
10028413 51777.72 10.5 474.21 80 OWNER 360 ADVANTA MARATHON CAPITAL LP 9/1/97
10030294 86870 9.025 700.54 73 OWNER 360 ADVANTA AMRESCO 11/1/97
10030484 65600 8.73 515.14 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10030526 98525 9.75 846.48 87.97 OWNER 360 ADVANTA AMRESCO 11/1/97
10030609 61500 9.93 536.53 75 OWNER 360 ADVANTA AMRESCO 11/1/97
10030708 203000 10.68 1884.29 70 OWNER 360 ADVANTA AMRESCO 11/1/97
10032985 243820.72 7.55 1714.45 80 OWNER 360 ADVANTA ALTERNATIVE LENDING CAPITAL 10/1/97
10034767 161044 8.03 1185.05 76.69 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10034775 146250 9.88 1270.5 68.02 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10034783 103600 8.73 813.54 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10034791 138037 8.03 1015.75 76.69 OWNER 360 ADVANTA AMRESCO 11/1/97
</TABLE>
Page 1
<PAGE> 4
AMRESCO MORTGAGE LOAN SCHEDULE
1997-3 PREFUND 3 GROUP 2 ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
SERVICER AMRESCO LAST ZIP PROPERTY MATURITY
LOAN NUMBER LOAN NUMBER NAME ADDRESS CITY STATE CODE TYPE DATE
- ----------- ----------- ---- ------- ---- ----- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
10034809 10034809AD ALLISON 1243 W. 25TH STREEET LOS ANGELES CA 90007 2-4 UNITS 10/1/27
10034932 10034932AD PINKNEY 17521 NE 1ST COURT MIAMI FL 33162 SFR 10/1/27
10035087 10035087AD LLOYD 4129 WILLEY LANE NEW CASTLE PA 16105 SFR 10/1/27
10043099 10043099AD VENTERS 401 BISCAY DRIVE GARLAND TX 75043 SFR 10/1/27
10043131 10043131AD GUERPO LOT # 9 HONOKAA-WAIPIO ROA HONOKAA HI 96727 SFR 10/1/27
10043172 10043172AD ZARATE 304 NORTH JSTREET IMPERIAL CA 92251 SFR 10/1/27
10043222 10043222AD WASHBURN 8332 EAST BONNIE ROSE AVEN SCOTTSDALE AZ 85250 SFR 10/1/27
10043255 10043255AD SMAIL 4403 ROSE ST. VALRICO FL 33594 SFR 10/1/27
10043271 10043271AD CACHEDON 1903 HIGH TIMBER ROAD FORT WASHIN MD 20744 SFR 10/1/27
10043347 10043347AD GIUSTINI 11201 BABCOCK BLVD GIBSONIA PA 15044 SFR 10/1/27
10043388 10043388AD EHOUSSOU 3835 PARKLANE DRIVE CLARKSTON GA 30021 CONDO 10/1/27
10043412 10043412AD VIRAG 595 15TH STREET SOUTHEAST SALEM OR 97301 SFR 10/1/27
10043438 10043438AD SIMS 1075 DELIA AVENUE AKRON OH 44320 SFR 10/1/27
10043453 10043453AD SANTIAGO 2424 N. TRIPP AVE. CHICAGO IL 60639 2-4 UNITS 10/1/27
10043487 10043487AD RUSSOW 1346 92ND AVENUE WEST DULUTH MN 55808 SFR 10/1/27
10044246 10044246AD SLATER 701 7TH AVE SACRAMENTO CA 95818 SFR 9/1/27
10045482 10045482AD GILES 765 E. 110 N. HEBER CITY UT 84032 SFR 3/1/27
10045532 10045532AD HENDON 250 E. GEORGE ST. BANNING CA 92220 SFR 4/1/27
10046357 10046357AD BEBO 119 E. IOWA AVE BERTHOUD CO 80513 SFR 3/1/27
10046407 10046407AD HOOD 1753 FRANKLIN CHASE TERRAC HENDERSON NV 89012 SFR 2/1/27
10046423 10046423AD STEVENS 1635 S. LOWELL BLVD DENVER CO 80219 SFR 3/1/27
10046449 10046449AD KIM 16360 S.W. CINNABAR COURT BEAVERTON OR 97007 SFR 5/1/27
10046480 10046480AD ORLANDO 2213 S. MARLOW APACHE AZ 85219 SFR 3/1/27
10046662 10046662AD ROPER 314 LESTER AVENUE OAKLAND CA 94606 SFR 10/1/27
10046712 10046712AD WILKERSON 150 NORTH HILL ROAD KALISPELL MT 59901 SFR 10/1/27
10046738 10046738AD LIND 590 NORTHEAST 195TH AVENUE PORTLAND OR 97230 SFR 10/1/27
10046779 10046779AD KORB 26 LOUISE ST. LEECHBURG PA 15656 SFR 10/1/27
10046795 10046795AD KHAN 1061 STARLING COURT NORCROSS GA 30093 SFR 10/1/27
10046829 10046829AD LAYTON 404 S.W. FOREST LAWTON OK 73505 SFR 10/1/12
10046852 10046852AD FRANK 324 SOUTH 18TH STREET LINCOLN NE 68508 SFR 10/1/27
10046894 10046894AD GLOVER 4452 N. 64TH STREET MILWAUKEE WI 53218 SFR 10/1/27
10046928 10046928AD FARLER 6015 BLUE RIBBON ROAD HILLSBOROUG OH 45133 SFR 10/1/27
10046944 10046944AD MALACARA 6104 30TH AVENUE KENOSHA WI 53142 SFR 10/1/27
10047066 10047066AD TEMIR 18021 7TH PL. W. EDMONDS WA 98026 SFR 4/1/27
10047082 10047082AD SMITH 610 W. 99TH ST. LOS ANGELES CA 90044 SFR 3/1/27
10047165 10047165AD WIEGAND 427 UNION HILL RD FAIRVIEW HI IL 62208 SFR 6/1/27
10047215 10047215AD TROGLIA 2043 N. WOODPECKER LANE ELIZABETH CO 80107 SFR 6/1/26
10047256 10047256AD SACKS 3622 VIA DOLCE MARINA DEL CA 90292 SFR 3/1/27
10047264 10047264AD PECAK 971 WEDGEWOOD DR. CRYSTAL LAK IL 60014 SFR 6/1/27
10047314 10047314AD PANDREA 1308-1312 EAST SEVENTH STR BEAUMONT CA 92223 SFR 1/1/27
10047322 10047322AD BARCELONA 140 S. ELIOT ST. DENVER CO 80219 SFR 3/1/27
10047389 10047389AD ISHAQ 1021 ELLIOT STREET W SACRAMENT CA 95605 SFR 5/1/27
10047447 10047447AD POWELL 3683-3685 WEST 90TH PLACE WESTMINSTER CO 80030 SFR 4/1/27
10047454 10047454AD MCEVOY 79 WINDING WAY SAN CARLOS CA 94070 SFR 4/1/27
10047512 10047512AD BERNARD 3010 W. LAVONNE DR. TUCSON AZ 85713 SFR 4/1/27
10047579 10047579AD SAGUN 1035 BAYWOOD DRIVE UNIT A SPARKS NV 89434 SFR 2/1/27
10047678 10047678AD KENNY 7355 ESTRELLA COURT BOCA RATON FL 33433 SFR 6/1/27
10047710 10047710AD BLOOM 4037 JACOBUS DRIVE GARDEN VALL CA 95633 SFR 2/15/27
10048577 10048577AD CRUZ 7111 LA PAZ LANE LA PALMA CA 90623 SFR 5/1/27
10048676 10048676AD TABAR 2021 44TH AVENUE NORTH ST PETERSBU FL 33714 SFR 5/1/27
10048759 10048759AD LEICHARDT 4868 W. 134TH ST. HAWTHORNE CA 90250 SFR 3/1/27
10048783 10048783AD CLARK HWY. 77 MILEPOST GLOBE AZ 85501 SFR 3/1/27
<CAPTION>
SERVICER 10/1/97 CURRENT CURRENT OCCUPANCY ORIGINAL DUE
LOAN NUMBER SCHEDULED BALANCE RATE P&I PAYMENT LTV STATUS TERM SERVICER ORIGINATOR DATE
- ----------- ----------------- ----- ----------- --- ------ ---- -------- ---------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
10034809 100000 8.85 793.85 62.5 OWNER 360 ADVANTA AMRESCO 11/1/97
10034932 90000 9.75 773.24 90 OWNER 360 ADVANTA AMRESCO 11/1/97
10035087 44000 11.68 441.78 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10043099 81900 10.75 764.52 90 OWNER 360 ADVANTA ALPHA MORTGAGE USA INC 11/1/97
10043131 138750 8.85 1101.47 75 OWNER 360 ADVANTA AMRESCO 11/1/97
10043172 59000 9.85 511.24 79.73 OWNER 360 ADVANTA AMRESCO 11/1/97
10043222 66000 9.5 554.96 54.1 OWNER 360 ADVANTA AMRESCO 11/1/97
10043255 50000 10.29 449.54 64.1 OWNER 360 ADVANTA AMRESCO 11/1/97
10043271 128000 11.73 1290.08 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10043347 52000 10.68 482.68 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10043388 25200 10.63 232.97 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10043412 67150 11.65 672.68 85 OWNER 360 ADVANTA AMRESCO 11/1/97
10043438 51600 9.92 449.78 61.8 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10043453 114375 10.58 1053.08 75 OWNER 360 ADVANTA AMRESCO 11/1/97
10043487 56400 10.68 523.52 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10044246 77165.77 9.99 676.92 80 OWNER 360 ADVANTA ALTERNATIVE LENDING CAPITAL 10/1/97
10045482 114625.09 9.875 998.6 53.1 OWNER 360 ADVANTA AAMES 9/1/97
10045532 97871.4 8.99 789.43 74.9 OWNER 360 ADVANTA AAMES 9/1/97
10046357 69726.21 9 563.24 55.1 OWNER 360 ADVANTA AAMES 10/1/97
10046407 74696.58 9.5 630.64 62.3 OWNER 360 ADVANTA AAMES 10/1/97
10046423 69376.06 7.875 505.74 75 OWNER 360 ADVANTA AAMES 10/1/97
10046449 179333.03 8.375 1367.37 59.9 OWNER 360 ADVANTA AAMES 10/1/97
10046480 89696.23 9.75 773.24 51.1 OWNER 360 ADVANTA AAMES 10/1/97
10046662 157200 10.3 1414.52 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10046712 193000 10.38 1748.16 77.82 OWNER 360 ADVANTA AMRESCO 11/1/97
10046738 109600 9.88 952.11 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10046779 48000 10.76 448.43 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10046795 72000 10.05 634.51 75 OWNER 360 ADVANTA AMRESCO 11/1/97
10046829 57800 9 586.25 85 OWNER 180 ADVANTA AMRESCO 11/1/97
10046852 52700 10.65 487.99 81.08 OWNER 360 ADVANTA AMRESCO 11/1/97
10046894 38320 10.38 347.09 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10046928 50850 10.75 474.68 90 OWNER 360 ADVANTA AMRESCO 11/1/97
10046944 56700 10.56 521.2 70 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10047066 149614.47 10.25 1344.15 68.1 OWNER 360 ADVANTA AAMES 10/1/97
10047082 104639.27 9.625 892.49 72.4 NON OWNER 360 ADVANTA AAMES 9/1/97
10047165 89888.5 11.71 905.72 56.2 OWNER 360 ADVANTA AAMES 10/1/97
10047215 171563.17 10.25 1548.47 79.6 OWNER 360 ADVANTA AAMES 10/1/97
10047256 190482.64 8.875 1521.67 75 OWNER 360 ADVANTA AAMES 10/1/97
10047264 223124.33 10.96 2126.44 80 OWNER 360 ADVANTA AAMES 10/1/97
10047314 54983.93 10.24 494.24 60 OWNER 360 ADVANTA AAMES 10/1/97
10047322 64752.29 9.125 528.86 59 OWNER 360 ADVANTA AAMES 10/1/97
10047389 50597.5 10.5 463.77 65 OWNER 360 ADVANTA AAMES 10/1/97
10047447 107723.76 9.625 922.24 70 OWNER 360 ADVANTA AAMES 10/1/97
10047454 119674.76 10 1053.09 60 OWNER 360 ADVANTA AAMES 10/1/97
10047512 63760.75 8.5 494.41 64.3 OWNER 360 ADVANTA AAMES 9/1/97
10047579 59249.81 9.5 500.31 74.3 OWNER 360 ADVANTA AAMES 10/1/97
10047678 240263.47 8.96 1930.61 80 OWNER 360 ADVANTA AAMES 10/1/97
10047710 149811.77 9 1210.16 79 OWNER 360 ADVANTA AAMES 9/15/97
10048577 171812.2 7.2 1170.91 75 OWNER 360 ADVANTA AAMES 10/1/97
10048676 44174.04 11.26 430.12 75 OWNER 360 ADVANTA AAMES 10/1/97
10048759 135717.16 9 1096.3 77.8 OWNER 360 ADVANTA AAMES 10/1/97
10048783 78835.3 9.75 679.59 70 OWNER 360 ADVANTA AAMES 10/1/97
</TABLE>
Page 2
<PAGE> 5
AMRESCO MORTGAGE LOAN SCHEDULE
1997-3 PREFUND 3 GROUP 2 ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
SERVICER AMRESCO LAST ZIP PROPERTY MATURITY
LOAN NUMBER LOAN NUMBER NAME ADDRESS CITY STATE CODE TYPE DATE
- ----------- ----------- ---- ------- ---- ----- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
10048817 10048817AD ANDERSON 14980 S.W. 109TH AVE TIGARD OR 97223 SFR 1/1/27
10048858 10048858AD DAVIS 524-526 W. 42ND ST. LOS ANGELES CA 90037 SFR 3/1/27
10048882 10048882AD MITCHELTREE 1810 LOS ANGELES CA 90025 SFR 3/1/27
10048932 10048932AD MORIN 10917 27TH ST. S.E. EVERETT WA 98205 SFR 6/1/27
10048957 10048957AD ERICSSON 10215 BARTEE AVE PACOIMA CA 91331 SFR 2/1/27
10048973 10048973AD KRULEE 6547 NORTHRIDGE DRIVE SAN JOSE CA 95120 SFR 3/15/27
10049021 10049021AD HOLTS 149 W. 47TH PL. LOS ANGELES CA 90037 SFR 3/1/27
10049088 10049088AD HANEY 708 SILVER DR. VISTA CA 92083 SFR 11/1/26
10049138 10049138AD DAITOKU 140-142 23RD AVE SAN FRANCIS CA 94121 SFR 3/1/27
10049179 10049179AD ZWYGART 28221 163RD ST. E. WILKESON WA 98396 SFR 3/1/27
10049203 10049203AD BORREGO 1271 EAT MT VIEW AVE FRESNO CA 93725 SFR 3/1/27
10049229 10049229AD ERTMANN 8319 S. MCCLANAHAN LANE W. JORDAN UT 84088 SFR 3/1/27
10049260 10049260AD DUGGAN 2801 GIRVAN RD. REDDING CA 96001 SFR 3/1/27
10049328 10049328AD KUCUKBEYAZ 17003 CALAHAN ST. LOS ANGELES CA 91325 SFR 3/1/27
10049369 10049369AD SHILTS 2745 & 2749 W ORANGEWOOD A PHOENIX AZ 85051 SFR 3/1/27
10049393 10049393AD FRONEK 7372 S. VANCE ST. LITTLETON CO 80123 SFR 3/1/27
10049401 10049401AD BARRY 3802 EAST EUCLID AVENUE ORANGE CA 92869 SFR 4/1/27
10049435 10049435AD SCHOONARD 10001 ANJA PL. LAKESIDE CA 92040 SFR 3/1/27
10049468 10049468AD BENADERET 546 ANCHOR CIRCLE REDWOOD CIT CA 94065 SFR 4/1/27
10049518 10049518AD LIGGINS 1064 WALTON AVENUE DAYTON OH 45407 SFR 5/1/27
10049534 10049534AD ISHAQ 925 FREMONT BLVD W. SACRAMEN CA 95605 SFR 5/1/27
10049559 10049559AD HAYWARD 2269 TANGLEWOOD GRAND JUNCT CO 81503 SFR 4/1/27
10049567 10049567AD FIET 290 N. 1300 E. BOUNTIFUL UT 84010 SFR 4/1/27
10049591 10049591AD HEINZEN 5128 NORTH WIMMER AVENUE BALDWIN BK CA 91706 SFR 3/1/27
10049609 10049609AD ELLINGWOOD 18114 N. BOSTON RD COLBERT WA 99005 SFR 3/1/27
10049633 10049633AD SANDIFAR 1011 WOOLMAN DRIVE RICHMOND IN 47374 SFR 5/1/27
10049641 10049641AD SAMPLE 9203 JACKSON HILL RD. S.E. SALEM OR 97306 SFR 10/15/26
10049716 10049716AD LYNN LOT 6 HAINES ST. PORT TOWNSE WA 98368 SFR 7/1/26
10049765 10049765AD RIVAS 473 HURST VIEW AVE MONROVIA CA 91016 SFR 3/1/27
10049849 10049849AD HOBBIE 295 LAKEVIEW DR. SANTA ROSA FL 32459 SFR 6/1/27
10049864 10049864AD ZEARFOSS 5611 W. 28 AVE # 11 HIALEAH FL 33016 SFR 6/1/27
10100105 10100105AD GOODRICH 324 C.C. CHANDLER ROAD BURLESON TX 76028 SFR 10/1/27
10100212 10100212AD DE MADO 86 GREEN HILL ROAD WASHINGTON CT 06793 SFR 10/1/27
10100261 10100261AD QUINTANA 1 JUNIPER LANE PECOS NM 87535 SFR 10/1/27
10100303 10100303AD HARRIS 6550 AMANDA CIRCLE FAYETTEVILL NC 28304 SFR 10/1/27
10100311 10100311AD SWARTZ 233 SUNSET DRIVE JOHNSTOWN OH 43031 SFR 10/1/27
10100337 10100337AD HARDY 12900 WALDEN ROAD MONTGOMERY TX 77356 CONDO 10/1/27
10100352 10100352AD METE 124 OCONNELL DRIVE BERLIN CT 06037 SFR 10/1/27
10100360 10100360AD PIPER 13860 CASSIDY ROAD BELLEVUE MI 49021 SFR 10/1/27
10100378 10100378AD RUSSELL 209 ROCK STREET HUGHSTOWN PA 18640 SFR 10/1/27
10100386 10100386AD WOODWORTH 2159 FERN DELL PLACE LOS ANGELES CA 90068 SFR 10/1/27
10100444 10100444AD FILBAN 14584 GRANDVILLE DETROIT MI 48223 SFR 10/1/27
10100451 10100451AD PRATT 414 MERRIMACK STREET MANCHESTER NH 03103 2-4 UNITS 10/1/27
10100469 10100469AD SALIVAR RT 17 BOX 485 TEXARKANA TX 75501 SFR 10/1/27
10100493 10100493AD COMPTON 2129 PEPPER TREE PLACE ESCONDIDO CA 92026 SFR 10/1/27
10100501 10100501AD PELLEGRINO 142 HIDDEN ROAD ANDOVER MA 01810 SFR 10/1/27
10100543 10100543AD GROVES 916 1/2 2ND STREET NORTH SAINT PETE FL 33701 SFR 10/1/27
10104313 10104313AD NEESHAN 6315 SOUTH CYCLAMEN CIRCLE WEST JORDAN UT 84084 SFR 10/1/27
10104321 10104321AD BLANCO 8822 AQUARIUS AVENUE ELK GROVE CA 95624 SFR 10/1/27
10104396 10104396AD LEGRAIR 3101 N. BENDER AVENUE AKRON OH 44319 SFR 10/1/27
10104412 10104412AD WILSON 1025 MAIN AVE SHEBOYGAN WI 53081 SFR 10/1/27
10104446 10104446AD LANDRY 84 MASON STREET GRETNA LA 70053 SFR 10/1/12
<CAPTION>
SERVICER 10/1/97 CURRENT CURRENT OCCUPANCY ORIGINAL DUE
LOAN NUMBER SCHEDULED BALANCE RATE P&I PAYMENT LTV STATUS TERM SERVICER ORIGINATOR DATE
- ----------- ----------------- ----- ----------- --- ------ ---- -------- ---------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
10048817 73891.95 9.24 610.3 75 OWNER 360 ADVANTA AAMES 10/1/97
10048858 100937.93 8.25 761.78 65 OWNER 360 ADVANTA AAMES 10/1/97
10048882 108680.4 10.375 986.89 36.33 OWNER 360 ADVANTA AAMES 9/1/97
10048932 148188.45 10.08 1311.54 74.9 OWNER 360 ADVANTA AAMES 9/1/97
10048957 99335.83 9.375 829.67 75 OWNER 360 ADVANTA AAMES 10/1/97
10048973 298918 8.625 2333.37 66.6 OWNER 360 ADVANTA AAMES 10/15/97
10049021 149416.98 9.625 1274.98 75 OWNER 360 ADVANTA AAMES 10/1/97
10049088 48737.47 9.74 420.63 70 OWNER 360 ADVANTA AAMES 10/1/97
10049138 373900.17 10.375 3395.28 75 OWNER 360 ADVANTA AAMES 9/1/97
10049179 189313.74 9.75 1632.39 74.3 OWNER 360 ADVANTA AAMES 10/1/97
10049203 105530.97 8.875 843.38 59.5 OWNER 360 ADVANTA AAMES 10/1/97
10049229 77736.02 10 684.51 67.8 OWNER 360 ADVANTA AAMES 9/1/97
10049260 114986.85 8.375 877.88 70 OWNER 360 ADVANTA AAMES 10/1/97
10049328 139438.24 8.875 1113.9 51.8 OWNER 360 ADVANTA AAMES 9/1/97
10049369 74603.21 9.5 630.64 75 OWNER 360 ADVANTA AAMES 10/1/97
10049393 75053.44 9.75 654.68 63.5 OWNER 360 ADVANTA AAMES 11/1/97
10049401 148778.75 9.625 1270.9 80 OWNER 360 ADVANTA AAMES 10/1/97
10049435 74714.19 9.125 610.22 51.3 OWNER 360 ADVANTA AAMES 10/1/97
10049468 327087.35 9.875 2848.18 80 OWNER 360 ADVANTA AAMES 10/1/97
10049518 20954.21 10.15 186.63 75 OWNER 360 ADVANTA AAMES 9/1/97
10049534 53192.2 10.5 487.56 65 OWNER 360 ADVANTA AAMES 10/1/97
10049559 104715.38 10 921.45 52.5 OWNER 360 ADVANTA AAMES 10/1/97
10049567 143639.52 7.44 1003.04 65.5 OWNER 360 ADVANTA AAMES 10/1/97
10049591 75744.84 8.875 605.09 65 OWNER 360 ADVANTA AAMES 10/1/97
10049609 67977.28 8.375 521.41 70 NON OWNER 360 ADVANTA AAMES 9/1/97
10049633 56141.23 10.71 523.4 75 OWNER 360 ADVANTA AAMES 10/1/97
10049641 169040.94 9.49 1428.21 73.9 OWNER 360 ADVANTA AAMES 9/15/97
10049716 86476.62 10.25 780.51 79.8 OWNER 360 ADVANTA AAMES 10/1/97
10049765 117881.16 8.375 900.69 75 OWNER 360 ADVANTA AAMES 10/1/97
10049849 246941.67 8.9 1973.66 75 OWNER 360 ADVANTA AAMES 10/1/97
10049864 41915.65 9.46 351.94 70 OWNER 360 ADVANTA AAMES 10/1/97
10100105 61125 10.13 542.3 75 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10100212 307500 10.4 2789.86 75 OWNER 360 ADVANTA AMRESCO 11/1/97
10100261 55250 11.06 528.67 65 OWNER 360 ADVANTA AMRESCO 11/1/97
10100303 33600 14.63 414.93 70 OWNER 360 ADVANTA AMRESCO 11/1/97
10100311 52500 9.27 432.67 71.43 OWNER 360 ADVANTA AMRESCO 11/1/97
10100337 30000 10.3 269.95 78.95 OWNER 360 ADVANTA AMRESCO 11/1/97
10100352 273700 10.18 2438.4 70 OWNER 360 ADVANTA AMRESCO 11/1/97
10100360 105100 11.2 1016.81 83.55 OWNER 360 ADVANTA AMRESCO 11/1/97
10100378 51000 10.93 482.99 75 OWNER 360 ADVANTA AMRESCO 11/1/97
10100386 224000 8.23 1679.69 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10100444 106400 10.85 1001.23 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10100451 61530 9.77 529.54 73.25 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10100469 54400 10 477.4 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10100493 63500 9.02 511.85 48.85 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10100501 215000 10 1886.78 64.18 OWNER 360 ADVANTA AMRESCO 11/1/97
10100543 30600 9.63 260.21 60 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10104313 73500 9.68 627.7 70 OWNER 360 ADVANTA AMRESCO 11/1/97
10104321 127920 10.05 1127.32 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10104396 100300 9.9 872.8 85 OWNER 360 ADVANTA AMRESCO 11/1/97
10104412 50000 9.62 424.81 67.11 OWNER 360 ADVANTA AMRESCO 11/1/97
10104446 38400 10.6 426.86 80 OWNER 180 ADVANTA AMRESCO 11/1/97
</TABLE>
Page 3
<PAGE> 6
AMRESCO MORTGAGE LOAN SCHEDULE
1997-3 PREFUND 3 GROUP 2 ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
SERVICER AMRESCO LAST ZIP PROPERTY MATURITY
LOAN NUMBER LOAN NUMBER NAME ADDRESS CITY STATE CODE TYPE DATE
- ----------- ----------- ---- ------- ---- ----- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
10104453 10104453AD HENES 3744 SOUTHEAST 21ST DRIVE GRESHAM OR 97080 SFR 10/1/27
10104487 10104487AD ANDERSON 115 NORTH 7TH STREET WHEELING WV 26003 SFR 10/1/27
10104503 10104503AD HILL 905 WEST POPLAR STREET ZIONSVILLE IN 46077 SFR 10/1/27
10104529 10104529AD WEST 5238 NORTH 68TH STREET MILWAUKEE WI 53218 SFR 10/1/27
10104578 10104578AD JONES 4710 SOUTHWEST 160TH AVENU BEAVERTON OR 97007 SFR 10/1/27
10104602 10104602AD AGUILERA 910 WEST 28TH STREET PUEBLO CO 81003 SFR 10/1/27
10104636 10104636AD MARTINO 58 OSCEOLA AVENUE WARWICK RI 02888 SFR 10/1/27
10104701 10104701AD FLORES 1234 WEST HUFSMITH ROAD TOMBALL TX 77375 SFR 10/1/27
10104719 10104719AD BROWN 2515 SLIPPERY ROCK DRIVE SUGAR LAND TX 77478 SFR 10/1/27
10104776 10104776AD TIMMS 3371 NORTH 36TH STREET MILWAUKEE WI 53216 SFR 10/1/27
10104784 10104784AD SYBERTZ 7 CONCORD DRIVE SOUTH WALPO MA 02081 SFR 10/1/27
10104800 10104800AD HUDSON 5188 MARTINS CROSSING ROAD STONE MOUNT GA 30088 SFR 10/1/27
10104842 10104842AD KELLEY 800 EWERS ROCKY FORD CO 81067 SFR 10/1/27
10104867 10104867AD HEIDT 1536 EAST CAMBRIDGE AVENUE PHOENIX AZ 9E+08 SFR 10/1/27
10104883 10104883AD QUINN 109 SIERRA MADRE LANE TEXARKANA TX 75503 SFR 10/1/27
10104925 10104925AD GONZALEZ 219 ELMER STREET TRENTON NJ 08611 SFR 10/1/12
10104966 10104966AD OHAVER 5878 W22555 MILWAUKEE AVEN BIG BEND WI 53103 SFR 10/1/27
10106250 10106250AD YORBA 28485 SAN TIMOTEO CANYON R REDLANDS CA 92373 SFR 8/1/27
10106375 10106375AD GOMEZ 828 NORTH 60TH DRIVE PHOENIX AZ 85043 SFR 8/1/27
10106417 10106417AD OCCHINO 36025 NORTH TENTH STREET PHOENIX AZ 85027 SFR 6/1/27
10106458 10106458AD JEFFERSON 30080 COUNTY ROAD 30 AKRON CO 80720 SFR 8/1/27
10106474 10106474AD GUYETT 1830 LINWOOD AVENUE SW TUMWATER WA 98512 SFR 9/1/27
10106508 10106508AD BRONSON 55 SOUTH 100 WEST MORONI UT 84646 SFR 8/1/27
10106532 10106532AD ATWOOD 691 NORTH 400 EAST AMERICAN FO UT 84003 SFR 7/1/27
10106557 10106557AD CALIXTRO 1220 SEVIER AVENUE MENLO PARK CA 94025 SFR 8/1/27
10106573 10106573AD BAREMEN 2118 WASATCH ROAD EVANSTON WY 82930 SFR 8/1/27
10106623 10106623AD FRISINGER 4223 EAST 76TH STREET TACOMA WA 98445 SFR 9/1/27
10106631 10106631AD OLVIGA 6243 W. ZOE ELLA WAY GLENDALE AZ 85306 SFR 9/1/27
10106664 10106664AD REDD 10482 SOUTH 400 EAST SANDY UT 84070 SFR 8/1/27
10106714 10106714AD CHEEK 6717 MAPLE LAKES DRIVE UNI WEST BLOOMF MI 48322 SFR 7/1/27
10106748 10106748AD CUNNINGHAM 4309 PINEWOOD AVENUE WEST PALM B FL 33407 SFR 8/1/27
10106797 10106797AD LAMONT 251 WALLER STREET SAN FRANCIS CA 94102 SFR 7/1/27
10106813 10106813AD MAUTZ 8652 17TH AVENUE SOUTHWEST SEATTLE WA 98106 SFR 9/1/27
10106821 10106821AD HARDY 421 SOUTH 100 EAST AMERICAN FO UT 84003 SFR 8/1/27
10106847 10106847AD SNEE 1280 DELONE DRIVE YUBA CITY CA 95991 SFR 7/1/27
10106854 10106854AD SHETABI 4209 12TH STREET NW ALBUQUERQUE NM 87107 SFR 8/1/27
10106862 10106862AD KNAPP 299 CARTER STREET WINSTON OR 97496 SFR 4/1/27
10106870 10106870AD SINCLAIR 6760 BRANCH STREET HOLLYWOOD FL 33024 SFR 8/1/27
10106888 10106888AD WARD 4005 SOUTH WASHINGTON ST ENGLEWOOD CO 80110 SFR 9/1/27
10106896 10106896AD LOPEZ 4352 SPAULDING STREET ANTIOCH CA 94509 SFR 7/1/27
10106904 10106904AD BOUCKHOUT 4952 EAST HALIFAX STREET MESA AZ 85205 SFR 9/1/27
10106920 10106920AD TURNER 5124 ASHBROOK ROAD DALLAS TX 75227 SFR 7/1/27
10106938 10106938AD STONE 4360 LELIA DRIVE RIO VISTA CA 94571 SFR 6/1/27
10108355 10108355AD SINGH 2708 WYOMING STREET ST. LOUIS MO 63118 2-4 UNITS 9/1/27
10108371 10108371AD BATES 3043 SENECA PLACE GRAND JUNCT CO 81504 SFR 10/1/27
10108389 10108389AD VAFAEI-MAKHS 2411 GOLDEN VALLEY ROAD MINNEAPOLIS MN 55411 2-4 UNITS 10/1/27
10108397 10108397AD ANDERSON 758 RIVERVIEW AVENUE ST. PAUL MN 55107 SFR 9/1/27
10108439 10108439AD BROWN 3802 FAIR HILL ROAD FAIR OAKS CA 95628 SFR 10/1/27
10108553 10108553AD SCHWAB 1415 WILLMAR AVENUE SOUTHW WILLMAR MN 56201 SFR 10/1/27
10108579 10108579AD DAY 2290 WALNUT GROVE AVENUE SAN JOSE CA 95128 SFR 10/1/27
10108603 10108603AD CHETNER 1874 BAY FLAT ROAD BODEGA BAY CA 94923 SFR 10/1/27
10108637 10108637AD MULLINS 900 OVERVIEW DRIVE LEXINGTON KY 40514 SFR 10/1/27
<CAPTION>
SERVICER 10/1/97 CURRENT CURRENT OCCUPANCY ORIGINAL DUE
LOAN NUMBER SCHEDULED BALANCE RATE P&I PAYMENT LTV STATUS TERM SERVICER ORIGINATOR DATE
- ----------- ----------------- ----- ----------- --- ------ ---- -------- ---------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
10104453 103125 9.03 831.99 75 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10104487 63000 10.63 582.42 90 OWNER 360 ADVANTA AMRESCO 11/1/97
10104503 94400 10.85 888.31 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10104529 49590 11.63 496.01 87 OWNER 360 ADVANTA AMRESCO 11/1/97
10104578 108400 9.29 894.92 49.27 OWNER 360 ADVANTA AMRESCO 11/1/97
10104602 55500 7.9 403.38 75 OWNER 360 ADVANTA AMRESCO 11/1/97
10104636 97500 9.03 786.61 75 OWNER 360 ADVANTA AMRESCO 11/1/97
10104701 123750 9.77 1065.02 75 OWNER 360 ADVANTA AMRESCO 11/1/97
10104719 77400 10.75 722.51 90 OWNER 360 ADVANTA AMRESCO 11/1/97
10104776 32900 8.98 264.25 84.36 OWNER 360 ADVANTA AMRESCO 11/1/97
10104784 175000 8.93 1399.28 45.22 OWNER 360 ADVANTA AMRESCO 11/1/97
10104800 79200 10.88 747.07 82.5 OWNER 360 ADVANTA AMRESCO 11/1/97
10104842 80100 11 762.81 90 OWNER 360 ADVANTA AMRESCO 11/1/97
10104867 76000 10.3 683.86 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10104883 67140 11.38 658.74 90 OWNER 360 ADVANTA AMRESCO 11/1/97
10104925 39920 10.36 437.82 80 OWNER 180 ADVANTA ARK MORTGAGE INC 11/1/97
10104966 84000 9.5 706.32 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10106250 197814.49 9.75 1701.13 49.5 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106375 51964.72 11.25 505.06 80 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106417 107835.17 10.75 1008.16 90 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106458 100720.39 10.55 925.83 80 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106474 170918.52 9.65 1456.61 80 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106508 29974.99 10.3 269.95 48.39 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106532 100170 10.15 891.34 85 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106557 191841.72 10.35 1734.8 80 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106573 52747.85 9.5 443.97 80 OWNER 360 ADVANTA STANDARD FINANCIAL 9/1/97
10106623 87965.77 10.6 811.56 80 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106631 74658.34 8.9 595.69 90 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106664 86921.89 9.95 760.27 77.68 OWNER 360 ADVANTA STANDARD FINANCIAL 9/1/97
10106714 107353.45 9.9 935.46 75.44 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106748 62966.34 12.33 664.07 70 OWNER 360 ADVANTA STANDARD FINANCIAL 9/1/97
10106797 149853.2 11.45 1479.72 51.72 OWNER 360 ADVANTA STANDARD FINANCIAL 9/1/97
10106813 86204.82 9.2 706.43 75 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106821 94908.13 9.6 805.75 77.87 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106847 100158.48 9.75 861.73 85 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106854 59936.9 9.2 491.43 54.3 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106862 71824.55 10.5 658.61 80 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106870 62856.63 11.175 607.34 89.86 OWNER 360 ADVANTA STANDARD FINANCIAL 9/1/97
10106888 89974.25 12 925.75 75 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106896 139792.71 9.5 1177.2 80 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106904 84716.68 10.55 778.41 75 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10106920 56916.13 10.3 512.9 67.06 OWNER 360 ADVANTA STANDARD FINANCIAL 9/1/97
10106938 131635.6 9.5 1109.93 80 OWNER 360 ADVANTA STANDARD FINANCIAL 10/1/97
10108355 42486.71 11.6 424.12 85 OWNER 360 ADVANTA DOERING MORTGAGE CORPOR 10/1/97
10108371 63750 10.99 606.62 75 OWNER 360 ADVANTA GRANITE BAY FUNDING 11/1/97
10108389 66300 11.63 663.15 65 NON OWNER 360 ADVANTA MINNESOTA FUNDING AND MOR 11/1/97
10108397 62979.76 11.475 622.68 70 NON OWNER 360 ADVANTA MINNESOTA FUNDING AND MOR 10/1/97
10108439 207000 9.05 1673.02 69 OWNER 360 ADVANTA AMRESCO 11/1/97
10108553 92400 11.26 898.15 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10108579 146000 9.25 1201.11 59.59 OWNER 360 ADVANTA AMRESCO 11/1/97
10108603 122206 10.55 1122.44 76.38 OWNER 360 ADVANTA AMRESCO 11/1/97
10108637 71250 10.55 654.42 75 OWNER 360 ADVANTA AMERICAN LENDING GROUP INC 11/1/97
</TABLE>
Page 4
<PAGE> 7
AMRESCO MORTGAGE LOAN SCHEDULE
1997-3 PREFUND 3 GROUP 2 ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
SERVICER AMRESCO LAST ZIP PROPERTY MATURITY
LOAN NUMBER LOAN NUMBER NAME ADDRESS CITY STATE CODE TYPE DATE
- ----------- ----------- ---- ------- ---- ----- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
10108686 10108686AD GONZALEZ 2025 KILCHOAN WAY SAN JOSE CA 96122 SFR 10/1/27
10108736 10108736AD BUREKER 1834 SOUTH PITKIN CIRCLE AURORA CO 80017 CONDO 10/1/27
10108777 10108777AD NEWELL 1198 CEDAR PLACE CRESWELL OR 97426 SFR 10/1/27
10108827 10108827AD RAPOZA 77 PINE OAK BOULEVARD BARNEGAT NJ 08005 SFR 10/1/27
10108835 10108835AD OLLIS 600 MONTCLAIR STREET PITTSBURGH PA 15217 SFR 10/1/27
10108900 10108900AD COOK 1706 KNOWLES STREET NASHVILLE TN 37208 2-4 UNITS 10/1/27
10108926 10108926AD CRAVATT 1325 WEST BERNARD STREET BLYTHE CA 92225 SFR 10/1/27
10108967 10108967AD GARCIA 7277 WEST 79TH DRIVE ARVANDA CO 80003 SFR 10/1/27
10108975 10108975AD WILLIAMS 309 HARRIS ROAD WILMINGTON NC 28405 SFR 10/1/27
10108991 10108991AD DUGGINS 5007 KENNEDY STREET HICKORY NC 28602 SFR 10/1/27
10119782 10119782AD KLINKNER 3228 BLOOMINGTON AVENUE SO MINNEAPOLIS MN 55407 2-4 UNITS 10/1/27
10119832 10119832AD DAMATE LOT #55 HIBISCUS DRIVE OCEAN VIEW HI 96737 SFR 10/1/27
10119972 10119972AD RUGGIRELLO 2620 WEST CAMINO DE LAS GR TUCSON AZ 85742 SFR 10/1/27
10120012 10120012AD KAIUWAILANI 27-395 OLD MAMALAHOA HIGHW PAPAIKOU HI 96781 SFR 10/1/27
10120046 10120046AD WEAVER 2113 NORTHEAST 86TH AVENU VANCOUVER WA 98664 SFR 10/1/27
10120061 10120061AD GOERL 1137 LAWNDALE DRIVE MENASHA WI 54952 SFR 10/1/27
10120079 10120079AD ARMIJO 702 S. MUD SPRINGS RD PAYSON AZ 85541 SFR 10/1/27
10120087 10120087AD STEWART 8 HIGHLAND ROAD PITTSBURGH PA 15202 SFR 10/1/27
10120152 10120152AD EDWARDS 584 PLYMOUTH STREET EAST BRIDGE MA 02333 SFR 10/1/27
10120160 10120160AD STARKEY 6367 HELEN STREET LIBRARY PA 15129 SFR 10/1/27
10120178 10120178AD DREW 7815 OLD POLK CITY LAKELAND FL 33809 SFR 10/1/27
10120194 10120194AD DIXON 6260 WEST STATE ROAD 45 BLOOMINGTON IN 47403 SFR 10/1/27
10120251 10120251AD ARENDT 3307 WEST 91ST STREET CLEVELEND OH 44102 SFR 10/1/27
10120277 10120277AD JONES 28702 IDLELOCH DRIVE HUFFMAN TX 77336 SFR 10/1/27
10120285 10120285AD MEDINA 5105 MYRTLE STREET HOUSTON TX 77087 SFR 10/1/27
10120301 10120301AD TAMZARIAN 97 STOWELL ROAD BEDFORD NH 03110 SFR 10/1/27
10120335 10120335AD ZIEGLER 115 MIDDLETOWN AVENUE OLD SAYBROO CT 06475 SFR 10/1/27
TOTAL 235
<CAPTION>
SERVICER 10/1/97 CURRENT CURRENT OCCUPANCY ORIGINAL DUE
LOAN NUMBER SCHEDULED BALANCE RATE P&I PAYMENT LTV STATUS TERM SERVICER ORIGINATOR DATE
- ----------- ----------------- ----- ----------- --- ------ ---- -------- ---------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
10108686 136000 8.65 1060.21 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10108736 38400 9.88 333.59 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10108777 76000 10.88 716.88 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10108827 44900 9.31 371.34 52.82 OWNER 360 ADVANTA AMRESCO 11/1/97
10108835 61920 9.43 517.5 72 OWNER 360 ADVANTA AMRESCO 11/1/97
10108900 33600 8.02 247.01 70 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10108926 34000 9.85 294.61 54.84 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10108967 60000 9.77 516.37 49.18 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10108975 50375 10.8 472.14 65 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10108991 116000 10.76 1083.71 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10119782 52500 11 499.97 70 NON OWNER 360 ADVANTA MINNESOTA FUNDING AND MORTGAGE 11/1/97
10119832 52000 10.85 489.32 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10119972 81600 11.05 780.18 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10120012 101250 9.77 871.38 75 OWNER 360 ADVANTA AMRESCO 11/1/97
10120046 77350 11.15 745.4 85 OWNER 360 ADVANTA AMRESCO 11/1/97
10120061 94620 9.88 821.98 83 OWNER 360 ADVANTA AMRESCO 11/1/97
10120079 86800 10.18 773.3 51.98 OWNER 360 ADVANTA AMRESCO 11/1/97
10120087 121600 10.18 1083.34 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10120152 120000 9.5 1009.03 58.25 OWNER 360 ADVANTA AMRESCO 11/1/97
10120160 59250 10.58 545.53 75 OWNER 360 ADVANTA AMRESCO 11/1/97
10120178 120800 10.85 1136.74 80 OWNER 360 ADVANTA AMRESCO 11/1/97
10120194 106200 9.75 912.42 90 OWNER 360 ADVANTA AMRESCO 11/1/97
10120251 39700 7.02 264.66 58.38 OWNER 360 ADVANTA AMRESCO 11/1/97
10120277 85400 10.05 752.6 69.18 OWNER 360 ADVANTA AMRESCO 11/1/97
10120285 21700 9 174.6 70 OWNER 360 ADVANTA AMRESCO 11/1/97
10120301 262500 9.25 2159.52 62.5 NON OWNER 360 ADVANTA AMRESCO 11/1/97
10120335 168000 10.55 1543.05 80 OWNER 360 ADVANTA AMRESCO 11/1/97
$22,991,870.39
</TABLE>
Page 5
