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Previous: MICROSTRATEGY INC, S-1, 1999-01-21 |
Next: ADIRONDACK FINANCIAL SERVICES BANCORP INC, 8-K, 1999-01-21 |
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 26, 1998
LEHMAN ABS CORPORATION,
as Depositor, United PanAm Mortgage Corporation, as Seller, Pan
American Bank, FSB, as Master Servicer, and Bankers Trust Company
of California, N.A., as trustee (the "Trustee") under the Pooling
and Servicing Agreement, dated as of September 1, 1997, providing
for the issuance of the United PanAm Mortgage Loan Asset Backed
Certificates, Series 1997-1.
LEHMAN ABS CORPORATION
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-39649 94-324470
(Commission File Number) (I.R.S. Employer Identification No.)
THREE WORLD FINANCIAL CENTER
200 VESEY STREET
NEW YORK, NEW YORK 10022
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212) 526-7000
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements to the
Certificateholders which was derived from the monthly information
submitted by the Master Servicer of the Trust to the Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
October 26, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
November 25, 1998.
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.
Bankers Trust Company of California,
N.A., not in its individual
capacity, but solely as a duly
authorized agent of the Registrant
pursuant to the Pooling and
Servicing Agreement, dated as of
December 1, 1997.
Date: January 21, 1999 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
Monthly Remittance Statement to the Certificateholders dated as of
October 26, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
November 25, 1998.
United PanAm Mortgage Loan
Asset Backed Certificates
Series 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
LT1 112,700,000.00 99,318,824.18 759,525.48 2,162,087.40 2,
>921,612.88 56,227.44 0.00 97,100,509.34
LT2 1,150,000.00 906,519.01 6,932.47 47,736.72
> 54,669.19 0.00 0.00 858,782.29
LT3 1,150,000.00 1,120,395.77 8,568.05 22,062.11
> 30,630.16 1,147.50 25,674.60 1,122,860.76
R2 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 115,000,000.00 101,345,738.96 775,026.00 2,231,886.23 3,
>006,912.23 57,374.94 25,674.60 99,082,152.39
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
LT1 881.267295 6.739357 19.184449
> 25.923806 861.583934 9.176816% 9.050252%
LT2 788.277400 6.028235 41.510195
> 47.538430 746.767205 9.176816% 9.050252%
LT3 974.257191 7.450478 19.184443
> 26.634922 976.400664 9.176816% 9.050252%
R2 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: United PanAm Mortgage Corporation ADMI
>NISTRATOR: Amy Paik
SERVICER: Pan American Bank, FSB.
> Bankers Trust Company
LEAD UNDERWRITER: Lehman ASB Corporation
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 5
> (c) COPYRIGHT 1998 Bankers Trust Company
United PanAm Mortgage Loan
Asset Backed Certificates
Series 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
MT1 112,700,000.00 99,318,824.18 759,525.48 2,162,087.40 2,
>921,612.88 56,227.44 0.00 97,100,509.34
MT2 1,150,000.00 906,519.02 6,932.47 47,736.72
> 54,669.19 0.00 0.00 858,782.30
MT3 1,150,000.00 1,120,395.76 8,568.05 22,062.11
> 30,630.16 1,147.50 25,674.60 1,122,860.75
MT4 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 115,000,000.00 101,345,738.96 775,026.00 2,231,886.23 3,
>006,912.23 57,374.94 25,674.60 99,082,152.39
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
MT1 881.267295 6.739357 19.184449
> 25.923806 861.583934 9.176816% 9.050252%
MT2 788.277409 6.028235 41.510195
> 47.538430 746.767214 9.176816% 9.050252%
MT3 974.257183 7.450478 19.184443
> 26.634922 976.400656 9.176816% 9.050252%
MT4 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
R3 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: United PanAm Mortgage Corporation ADMI
>NISTRATOR: Amy Paik
SERVICER: Pan American Bank, FSB.
> Bankers Trust Company
LEAD UNDERWRITER: Lehman ASB Corporation
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 5
> (c) COPYRIGHT 1998 Bankers Trust Company
United PanAm Mortgage Loan
Asset Backed Certificates
Series 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 114,425,000.00 98,190,987.05 496,645.24 2,484,592.39 2,
>981,237.63 0.00 0.00 95,706,394.66
X 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
R1 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 114,425,000.00 98,190,987.05 496,645.24 2,484,592.39 2,
>981,237.63 0.00 0.00 95,706,394.66
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 525170BA3 858.125296 4.406790 22.046073
> 26.452863 836.411577 5.873750% 5.499380%
X 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
R1 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: United PanAm Mortgage Corporation ADMI
>NISTRATOR: Amy Paik
SERVICER: Pan American Bank, FSB.
> Bankers Trust Company
LEAD UNDERWRITER: Lehman ASB Corporation
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 3 of 5
> (c) COPYRIGHT 1998 Bankers Trust Company
> United PanAm Mortgage L
>oan
> Asset Backed Certificat
>es
> Series 1997-1
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
> SERVICING FEES PAID FOR
> THE CURRENT PERIOD: 36,672.60
> DELINQUENT SERVICING FE
>ES FOR THE CURRENT PERIOD: 5,554.79
> NET ACCRUED SERVICING F
>EE FOR THE CURRENT PERIOD: 42,227.39
>
> CURRENT PERIODS MONTHLY
> SERVICER ADVANCED PRINCIPAL 5,876.32
>
> CURRENT PERIODS MONTHLY
> SERVICER ADVANCED INTEREST 112,436.51
>
> DELINQUENT
> LOAN
> 30-59 60-89. 91 +
> INFORMATION:
> DAYS DAYS DAYS TOTAL
>
> PRINCIPAL BALANCE
> 363,363.30 298,608.72 1,352,108.19 2,014,080.2
>
> NUMBER OF LOANS
> 5 2 12 19
>
> FORECLOSURE LOAN INFORM
>ATION:
> PRINCIPAL BALANCE
> 932,633.921,544,342.884,321,722.90 6,798,699.7
>
> NUMBER OF LOANS
> 11 14 35 60
>
> BANKRUPTCY LOAN INFORMA
>TION:
> PRINCIPAL BALANCE
> 110,028.44 51,860.28 1,043,712.94 1,205,601.6
>
> NUMBER OF LOANS
> 1 1 10 12
>
> REO LOAN INFORMATION:
>
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> NUMBER OF LOANS
> 0 0 0 0
>
> BOOK VALUE OF REO PROPE
>RTIES 0.00
>
> GUARANTEED DISTRIBUTION
> AMOUNT: 496,645.24
>
> GUARANTEED DISTRIBUTION
> OF PRINCIPAL: 0.00
>
> GUARANTEED DISTRIBUTION
> OF INTEREST: 496,645.24
>
> INSURANCE PAYMENTS MADE
> TO CLASS A: 0.00
>
> CERTIFICATE INSURER REI
>MBURSEMENTS: 0.00
>
> CUMULATIVE INSURANCE PA
>YMENTS TO CLASS A: 0.00
>
> ENDING AGGREGATE MORTGA
>GE LOAN COUNT: 846.00
>
> ENDING AGGREGATE PRINCI
>PAL MORTGAGE LOAN BALANCE: 99,082,152.39
>
> WEIGHTED AVERAGE MONTHS
> TO MATURITY: 349.00
>
> WEIGHTED AVERAGE MORTGA
>GE RATE: 9.9269%
>
> PRINCIPAL PREPAYMENTS F
>OR CURRENT PERIOD: 2,026,486.1
>
> CLASS A INTEREST DISTRI
>BUTION AMOUNT: 496,645.24
>
> CLASS A INTEREST PAID U
>NDER CERTIFICATE POLICY 0.00
>
> AGGREGATE NON COVERED P
>REPAYMENT INTEREST SHORTFALL: 0.00
>
> AGGREGATE RELIEF ACT IN
>TEREST SHORTFALL : 0.00
>
>
> Page 4 of 5 (c) COPYRIGHT 1998 B
>
> United PanAm Mortgage L
>oan
> Asset Backed Certificat
>es
> Series 1997-1
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
> CURRENT PERIODS BASIS R
>ISK SHORTFALL AMOUNT: 0.00
>
> ENDING UNPAID BASIS RIS
>K SHORTFALLS: 0.00
>
> EXTRAORDINARY TRUST FUN
>D EXPENSES WITHDRAWN FROM COLLECTION ACCOUNT: 0.00
>
> REQUIRED SUBORDINATED A
>MOUNT: 5,715,601.3
>
> SUBORDINATED INCREASE A
>MOUNT: 221,005.82
>
> SUBORDINATED REDUCTION
>AMOUNT: 0.00
>
> CURRENT PERIODS AGGREGA
>TE AMOUNT OF REALIZED LOSSES : 57,374.94
>
> CURRENT PERIODS EXTRAOR
>DINARY LOSSES : 0.00
>
> CURRENT PERIODS FRAUD L
>OSSES : 0.00
>
> CURRENT PERIODS SPECIAL
> HAZARD LOSSES : 0.00
>
CURRENT PERIODS BANKRUP
>TCY LOSSES: 0.00
>
> BANKRUPTCY AMOUNT
> 100,000.00
>
> FRAUD LOSS AMOUNT
> 3,450,000.0
>
> SPECIAL HAZARD AMOUNT
> 1,144,250.0
>
> DETAIL OF LOANS THAT BE
>CAME REO DURING COLLECTION PERIOD
>
> Unpaid Stated Principal Date Proper
>
> Loan Number
> Principal Balance Principal Balance Became REO
>
>Page 5 of 5 (c) COPYRIGHT 1998 Bankers Trust Company
ty
ankers Trust Company
United PanAm Mortgage Loan
Asset Backed Certificates
Series 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
LT1 112,700,000.00 97,100,509.34 751,331.33 2,568,771.25 3,
>320,102.58 0.00 0.00 94,531,738.09
LT2 1,150,000.00 858,782.29 6,644.97 54,670.36
> 61,315.33 0.00 0.00 804,111.92
LT3 1,150,000.00 1,122,860.76 8,688.32 26,211.95
> 34,900.27 0.00 28,458.41 1,125,107.23
R2 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 115,000,000.00 99,082,152.39 766,664.62 2,649,653.56 3,
>416,318.18 0.00 28,458.41 96,460,957.24
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
LT1 861.583934 6.666649 22.793001
> 29.459650 838.790932 9.285199% 9.149015%
LT2 746.767205 5.778235 47.539447
> 53.317682 699.227758 9.285199% 9.149015%
LT3 976.400664 7.555061 22.793000
> 30.348061 978.354111 9.285199% 9.149015%
R2 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: United PanAm Mortgage Corporation ADMI
>NISTRATOR: Andrea Davidson
SERVICER: Pan American Bank, FSB.
> Bankers Trust Company
LEAD UNDERWRITER: Lehman ASB Corporation
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 5
> (c) COPYRIGHT 1998 Bankers Trust Company
United PanAm Mortgage Loan
Asset Backed Certificates
Series 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
MT1 112,700,000.00 97,100,509.34 751,331.33 2,568,771.25 3,
>320,102.58 0.00 0.00 94,531,738.09
MT2 1,150,000.00 858,782.30 6,644.97 54,670.36
> 61,315.33 0.00 0.00 804,111.93
MT3 1,150,000.00 1,122,860.75 8,688.32 26,211.95
> 34,900.27 0.00 28,458.41 1,125,107.22
MT4 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 115,000,000.00 99,082,152.39 766,664.62 2,649,653.56 3,
>416,318.18 0.00 28,458.41 96,460,957.24
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
MT1 861.583934 6.666649 22.793001
> 29.459650 838.790932 9.285199% 9.149015%
MT2 746.767214 5.778235 47.539447
> 53.317682 699.227767 9.285199% 9.149015%
MT3 976.400656 7.555061 22.793000
> 30.348061 978.354103 9.285199% 9.149015%
MT4 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
R3 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: United PanAm Mortgage Corporation ADMI
>NISTRATOR: Andrea Davidson
SERVICER: Pan American Bank, FSB.
> Bankers Trust Company
LEAD UNDERWRITER: Lehman ASB Corporation
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 5
> (c) COPYRIGHT 1998 Bankers Trust Company
United PanAm Mortgage Loan
Asset Backed Certificates
Series 1997-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 114,425,000.00 95,706,394.66 438,604.86 2,949,254.91 3,
>387,859.77 0.00 0.00 92,757,139.75
X 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
R1 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 114,425,000.00 95,706,394.66 438,604.86 2,949,254.91 3,
>387,859.77 0.00 0.00 92,757,139.75
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 525170BA3 836.411577 3.891791 26.169076
> 30.060868 810.637009 5.499380% 5.322340%
X 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
R1 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: United PanAm Mortgage Corporation ADMI
>NISTRATOR: Andrea Davidson
SERVICER: Pan American Bank, FSB.
> Bankers Trust Company
LEAD UNDERWRITER: Lehman ASB Corporation
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 3 of 5
> (c) COPYRIGHT 1998 Bankers Trust Company
> United PanAm Mortgage L
>oan
> Asset Backed Certificat
>es
> Series 1997-1
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
> SERVICING FEES PAID FOR
> THE CURRENT PERIOD: 33,901.39
> DELINQUENT SERVICING FE
>ES FOR THE CURRENT PERIOD: 7,382.84
> NET ACCRUED SERVICING F
>EE FOR THE CURRENT PERIOD: 41,284.23
>
> CURRENT PERIODS MONTHLY
> SERVICER ADVANCED PRINCIPAL 7,829.37
>
> CURRENT PERIODS MONTHLY
> SERVICER ADVANCED INTEREST 149,664.85
>
> DELINQUENT
> LOAN
> 30-59 60-89. 91 +
> INFORMATION:
> DAYS DAYS DAYS TOTAL
>
> PRINCIPAL BALANCE
> 1,028,182.70 186,208.11 291,375.00 1,505,765.81
>
> NUMBER OF LOANS
> 12 1 3 16
>
> FORECLOSURE LOAN INFORM
>ATION:
> PRINCIPAL BALANCE
> 715,862.04 811,186.52 6,071,017.67 7,598,066.23
>
> NUMBER OF LOANS
> 10 10 56 76
>
> BANKRUPTCY LOAN INFORMA
>TION:
> PRINCIPAL BALANCE
> 0.00 0.00 1,677,295.72 1,677,295.72
>
> NUMBER OF LOANS
> 0 0 13 13
>
> REO LOAN INFORMATION:
>
> PRINCIPAL BALANCE
> 0.00 97,174.08 0.00 97,174.08
>
> NUMBER OF LOANS
> 0 1 1290009 1290010.41
>
> BOOK VALUE OF REO PROPE
>RTIES 0.00
>
> GUARANTEED DISTRIBUTION
> AMOUNT: 438,604.86
>
> GUARANTEED DISTRIBUTION
> OF PRINCIPAL: 0.00
>
> GUARANTEED DISTRIBUTION
> OF INTEREST: 438,604.86
>
> INSURANCE PAYMENTS MADE
> TO CLASS A: 0.00
>
> CERTIFICATE INSURER REI
>MBURSEMENTS: 0.00
>
> CUMULATIVE INSURANCE PA
>YMENTS TO CLASS A: 0.00
>
> ENDING AGGREGATE MORTGA
>GE LOAN COUNT: 825.00
>
> ENDING AGGREGATE PRINCI
>PAL MORTGAGE LOAN BALANCE: 96,460,957.24
>
> WEIGHTED AVERAGE MONTHS
> TO MATURITY: 348.00
>
> WEIGHTED AVERAGE MORTGA
>GE RATE: 10.0332%
>
> PRINCIPAL PREPAYMENTS F
>OR CURRENT PERIOD: 2,572,906.80
>
> CLASS A INTEREST DISTRI
>BUTION AMOUNT: 438,604.86
>
> CLASS A INTEREST PAID U
>NDER CERTIFICATE POLICY 0.00
>
> AGGREGATE NON COVERED P
>REPAYMENT INTEREST SHORTFALL: 0.00
>
> AGGREGATE RELIEF ACT IN
>TEREST SHORTFALL : 0.00
>
>
> Page 4 of 5 (c) COPYRIGHT 1998 B
>
> United PanAm Mortgage L
>oan
> Asset Backed Certificat
>es
> Series 1997-1
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
> CURRENT PERIODS BASIS R
>ISK SHORTFALL AMOUNT: 0.00
>
> ENDING UNPAID BASIS RIS
>K SHORTFALLS: 0.00
>
> EXTRAORDINARY TRUST FUN
>D EXPENSES WITHDRAWN FROM COLLECTION ACCOUNT: 0.00
>
> REQUIRED SUBORDINATED A
>MOUNT: 4,600,000.00
>
> SUBORDINATED INCREASE A
>MOUNT: 328,059.76
>
> SUBORDINATED REDUCTION
>AMOUNT: 0.00
>
> CURRENT PERIODS AGGREGA
>TE AMOUNT OF REALIZED LOSSES : 0.00
>
> CURRENT PERIODS EXTRAOR
>DINARY LOSSES : 0.00
>
> CURRENT PERIODS FRAUD L
>OSSES : 0.00
>
> CURRENT PERIODS SPECIAL
> HAZARD LOSSES : 0.00
>
> CURRENT PERIODS BANKRUP
>TCY LOSSES: 0.00
>
> BANKRUPTCY AMOUNT
> 100,000.00
>
> FRAUD LOSS AMOUNT
> 3,450,000.00
>
> SPECIAL HAZARD AMOUNT
> 1,144,250.00
>
> DETAIL OF LOANS THAT BE
>CAME REO DURING COLLECTION PERIOD
>
> Unpaid Stated Principal Date Proper
>
> Loan Number
> Principal Balance Principal Balance Became REO
>
>
> Page 5 of 5 (c) COPYRIGHT 1998 B
>
ankers Trust Company
ty
ankers Trust Company
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