- --------------------------------------------------------------------------------
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)
July 17, 1998
AMRESCO Residential Securities Corporation Mortgage Loan Trust 1998-2
(Exact name of registrant as specified in its charter)
New York 333-30759-03 Application Pending
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
c/o Norwest Bank Minnesota, National Association
Sixth Street and Marquette Avenue
Minneapolis, Minnesota 55479-1026
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (612) 667-8058
No Change
(Former name or former address, if changed since last report)
- --------------------------------------------------------------------------------
<PAGE>
Item 2. Acquisition or Disposition of Assets
Description of the Conveyance of Subsequent Mortgage Loans
On July 17, 1998, AMRESCO Residential Securities Corporation Mortgage Loan
Trust 1998-2 (the "Trust") acquired $7,323,258.99 of Subsequent Mortgage Loans
pursuant to the terms of the Pooling and Servicing Agreement dated as of June 1,
1998, between AMRESCO Residential Capital Markets, Inc., as Seller and Master
Servicer, AMRESCO Residential Securities Corporation, as Depositor, Advanta
Mortgage Corp. USA, Ameriquest Mortgage Company and Wendover Financial Services
Corporation, as Servicers, and Norwest Bank Minnesota, National Association, in
its capacity as Trustee and a Subsequent Transfer Agreement dated July 17, 1998
(the "Subsequent Transfer Agreement") among AMRESCO Residential Capital Markets,
Inc., as Seller, AMRESCO Residential Securities Corporation, as Depositor and
the Trust, as purchaser. The Subsequent Mortgage Loans possess the
characteristics required by the Prospectus dated September 5, 1997 and the
Prospectus Supplement dated May 28, 1998 (the "Prospectus Supplement"). The
Prospectus Supplement was filed pursuant to Rule 424(b)(5) of the Act on June
11, 1998. The Schedules of Subsequent Mortgage Loans are attached to the
Subsequent Transfer Agreement.
<PAGE>
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 July 17, 1998, among
AMRESCO Residential Securities Corporation, as Depositor, AMRESCO
Residential Capital Markets, Inc., as Seller and AMRESCO Residential
Securities Corporation Mortgage Loan Trust 1998-2 as the Purchaser.
<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 hereunto duly authorized.
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST 1998-2
By: AMRESCO Residential Securities Corporation, as
Depositor
By: /s/ Ronald B. Kirkland
-------------------------------------------
Name: Ronald B. Kirkland
Title: Vice President and
Chief Accounting Officer
Dated: July 20, 1998
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 1998-2 (the "Purchaser") pursuant to
the Pooling and Servicing Agreement dated as of June 1, 1998 among the
Depositor, the Seller, as Seller and Master Servicer, Advanta Mortgage Corp.,
USA, Ameriquest Mortgage Company and Wendover Financial Services Corporation, as
Servicers, and Norwest Bank Minnesota, National Association 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 Schedules of
Subsequent Mortgage Loans.
Conveyance of Subsequent Mortgage Loans. As of July 17, 1998 (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 July 17, 1998 whether or not received)
(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, $7,323,258.99 pursuant to this Subsequent Transfer
Agreement and to include $7,323,258.99 of the Subsequent Mortgage Loans listed
in the Schedule attached hereto in Group II.
<PAGE>
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.
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/ Mark E. Trentmann Sr.
--------------------------------------------
Name: Mark E. Trentmann Sr.
Title: Vice President
AMRESCO RESIDENTIAL CAPITAL MARKETS, INC.
as Seller
By: /s/ Mark E. Trentmann Sr.
--------------------------------------------
Name: Mark E. Trentmann Sr.
Title: Vice President
AMRESCO RESIDENTIAL SECURITIES CORPORATION
MORTGAGE LOAN TRUST 1998-2,
by Norwest Bank Minnesota, National Association
as Trustee
By: /s/ Peter J. Masterman
--------------------------------------------
Name: Peter J. Masterman
Title: Vice President
Dated: July 17, 1998
<PAGE>
<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>
4255212 4255212LB OLIVERAZ 121 NE 5TH STREET RENVILLE MN 56284 SFR 20280201
4374617 4374617LB MANAWAY 518 EASTSIDE AVENUE HATTIESBURG MS 39401 SFR 20130201
4128971 4128971LB JACKSON 522 N 44TH STREET E. ST. LOUIS IL 62205 SFR 20130201
4422168 4422168LB TALBERT 3619 W GREENWAY DR. PINE BLUFF AR 71603 SFR 20280101
4300265 4300265LB SHELBY 108 W NORTH ST KEMPTON IN 46049 SFR 20130201
10091437 10091437WN PELANT 5304 WEST AVENUE ST. LOUIS MO 63116 SFR 20280301
4314191 4314191LB DAVIS 18420 HICKORY DETROIT MI 48205 SFR 20280201
4347720 4347720LB HOLT 410 NORTH BRIDGE STREET BELDING MI 48809 SFR 20280201
4307740 4307740LB TURNER 8315 ROSELAWN DETROIT MI 48204 SFR 20130201
4349684 4349684LB GORDON 5127 CHICAGO AVENUE SOUTH MINNEAPOLIS MN 55417 SFR 20280201
4185153 4185153LB WHITMORE 6660 COLLEGE AVENUE KANSAS CITY MO 64123 SFR 20280101
3895174 3895174LB GREENWALD 2909 ELROD ST TAMPA FL 33611 SFR 20271101
4438248 4438248LB PARKER 1552 W 30 STREET RIVIERA BEACH FL 33404 SFR 20280201
4326237 4326237LB PARSONS 502 NORTH MAIN STREET WAPELLO IA 52653 SFR 20280101
4045449 4045449LB BOOTH ROUTE 1 BOX 1310 URBANA MO 65767 MANUFD HOME 20271201
4159166 4159166LB TAYLOR 1508 MCKENNIE AVENUE NASHVILLE TN 37206 SFR 20271201
4390639 4390639LB COAXUM 1555 HWY 41 MT PLEASANT SC 29464 SFR 20130201
4330114 4330114LB HOWELL 2365 W BRITTON OKC OK 73120 SFR 20280201
7159809 7159809WN FRANK 120 EAST 36TH STREET COVINGTON KY 41015 SFR 20280601
4190757 4190757LB JARNAGIN 5613 STERLING STREET RAYTOWN MO 64133 SFR 20280201
4228862 4228862LB CRAIG 1901 N SUNNY RIDGE ROAD DAYTON OH 45414 SFR 20280201
10092575 10092575WN MALOTT 850 MEADOW LANE LEBANON OH 45036 SFR 20280601
4226551 4226551LB PEAGLER 14358 RUTHERFORD DETROIT MI 48227 SFR 20280101
4350914 4350914LB SPEARS 526 GREEN STREET NEW HAVEN IN 46774 SFR 20180201
4334876 4334876LB WRIGHT 1332 CURFMAN RALEIGH NC 27603 SFR 20280201
4398418 4398418LB RUSSELL 301 ILLINOIS STREET BRISTOL IN 46507 SFR 20180201
4094546 4094546LB STONE RT BOX 146 AYERS ROAD VERSHIRE VT 5079 MANUFD HOME 20280101
4361903 4361903LB BELDEN 503 SOTIER PLACE WOOD RIVER IL 62095 SFR 20280101
7128291 7128291WN ROBINSON 5724 S. WOLCOTT AVE. CHICAGO IL 60636 SFR 20280410
7147531 7147531WN WALEN 7606 SOUTH 88TH COURT JUSTICE IL 60458 CONDO 20280101
4418950 4418950LB PLANT 1819 MORNINGSIDE AVENUE COLUMBIA TN 38401 SFR 20180201
4423182 4423182LB PORCHAS 124 EAST SAINT ANNE AVENUE PHOENIX AZ 85040 SFR 20280201
3974011 3974011LB MCCABE 214 THELMA DRIVE SHEFFIELD LAKE OH 44054 SFR 20121101
4403135 4403135LB MANNING 552 SHEILA DRIVE NEWPORT TN 37821 SFR 20280101
4153854 4153854LB AGUILAR 1644 NORTH LESLIE STREET VISALIA CA 93291 SFR 20271201
4179099 4179099LB MC NEILL 462 BOYER AVENUE HAMMONTON NJ 8037 SFR 20280201
4304465 4304465LB MOWRY 512 E NORTH ST. PLANO IL 60545 SFR 20130201
7148661 7148661WN DAVIS 5453 DALEWOOD AVENUE MAPLE HEIGHTS OH 44137 SFR 20280401
4199543 4199543LB MORALES 1701 NEIHART AVE SACRAMENTO CA 95832 SFR 20271201
4356556 4356556LB FORREST 5905 HIGHWAY PP HIGH RIDGE MO 63049 SFR 20280201
4092359 4092359LB NOBLES 8919 S WINCHESTER AVENUE CHICAGO IL 60620 SFR 20280201
3846797 3846797LB LOPEZ 4010 PLACITA AVE LAS VEGAS NV 89121 SFR 20121101
4264479 4264479LB REED 554 WEST ELENA MESA AZ 85282 SFR 20280201
4221156 4221156LB HEINZ 169 ALCAN DRIVE PITTSBURGH PA 15239 SFR 20271201
4170312 4170312LB DeFELICE 162 SOUTH END STREE EAST HAVEN CT 6512 SFR 20271201
4221727 4221727LB CASE 839 UPTON AVE BATTLE CREEK MI 49015 SFR 20280201
4007126 4007126LB CLAUGHTON 9 CLEVELAND WAY W YARMOUTH MA 2763 SFR 20271101
4080735 4080735LB THREADGILL 744 BAYOU DRIVE DESTIN FL 32541 SFR 20271201
7115751 7115751WN CARPENTER 14 CAPN LIJAHS ROAD CENTERVILLE MA 2632 SFR 20280304
4275467 4275467LB KAFANTARIS 734 N. PARK AVENUE WARREN OH 44483 SFR 20130101
4398871 4398871LB MITCHELL 4845 4TH AVENUE SOUTH MINNEAPOLIS MN 55409 SFR 20280201
7101926 7101926WN JUUL 311-13-15 J STREET NORTH LAKE WORTH FL 33460 2-4 UNITS 20280201
4409652 4409652LB HEADLEY 1931 JACKSON AVE. EVANSTON IL 60201 SFR 20280201
7037591 7037591WN WESTFALL 3301 LOOKOUT STREET MOHEGAN LAKE NY 10547 SFR 20271201
3986676 3986676LB BELL 113W 38TH STREET WILMINGTON DE 19802 SFR 20271201
4000295 4000295LB BARNES 820 ROLLING MEADOWS MARYVILLE IL 62062 SFR 20271201
4309134 4309134LB JONES 1127 LESLIE PLACE LITHONIA GA 30058 SFR 20280101
4336533 4336533LB HUNT 14903 S CASTLEGATE AVE. COMPTON CA 90221 SFR 20280101
4104295 4104295LB BLOOD 537 EAST 300 NORTH KAYSVILLE UT 84037 SFR 20280201
2052017 2052017LB SINN 8100 PETUNIA VICTORIA MN 55386 SFR 20260101
2163509 2163509LB HOUSTON 1366 61ST AVENUE OAKLAND CA 94621 2-4 UNITS 20260401
4317707 4317707LB MCCLAIN 127 EGAN COURT STREAMWOOD IL 60107 SFR 20280101
7154792 7154792WN EMBLEY 112 HUDSON ROAD WASHOUGAL WA 98671 SFR 20280401
4404141 4404141LB NICOLAI 2029 RAINBOW COURT VISTA CA 92083 SFR 20280101
4368627 4368627LB MABERRY 767 SOUTH ST. HIGHLAND NY 12528 SFR 20280101
4248035 4248035LB HOFFMAN 910 S HAVEN PLACE SOUTH HAVEN TOWNSHIP MI 49090 SFR 20280201
4410833 4410833LB SCHAAF 6559 DE LONGPRE LOS ANGELES CA 90028 SFR 20280101
4382545 4382545LB CASTILLO 2509 WEST OAK AVE. FULLERTON CA 92633 SFR 20280101
4309845 4309845LB SANDURS 39 ACACIA DR HOLBROOK NY 11741 SFR 20280101
4239505 4239505LB LEWIS 12403 LITTLEFIELD ROAD MARYSVILLE CA 95901 SFR 20280101
7056138 7056138WN SUAREZ LOT 93 SEC D: A POCONO COUNT TOBYHANNA PA 18466 SFR 20280214
4403507 4403507LB GREER 208 DORSHIRE COURT LOUISVILLE KY 40245 SFR 20280201
<CAPTION>
Servicer AMRESCO 7/1/1998
Loan Loan Last * Scheduled Current Current Occupancy Original Due
Number Number Name Balance Rate P&I Payment LTV Status Term Servicer Originator Date
------- --------- ---- ------------ ---- ---------- ---- ------ ---- -------- ---------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
4255212 4255212LB OLIVERAZ 17480.2 9.95 153.1 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4374617 4374617LB MANAWAY 22148.88 10.99 254.46 80 OWNER 180 AMERIQUEST AMERIQUEST 19980601
4128971 4128971LB JACKSON 23761.6 10.25 262.13 65 OWNER 180 AMERIQUEST AMERIQUEST 19980601
4422168 4422168LB TALBERT 24738.72 11 238.09 52 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4300265 4300265LB SHELBY 26635.26 10.25 294.29 63 OWNER 180 AMERIQUEST AMERIQUEST 19980701
10091437 10091437WN PELANT 28454.12 10.5 260.7 75 OWNER 360 WENDOVER DOERING MORTGAGE 19980701
4314191 4314191LB DAVIS 29945.5 11 285.7 73 OWNER 360 AMERIQUEST AMERIQUEST 19980701
4347720 4347720LB HOLT 30937.31 10.5 283.57 46 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4307740 4307740LB TURNER 34589.67 10.5 386.89 70 OWNER 180 AMERIQUEST AMERIQUEST 19980601
4349684 4349684LB GORDON 34902.74 8.99 281.37 58 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4185153 4185153LB WHITMORE 35152.44 9.9 306.74 75 OWNER 360 AMERIQUEST AMERIQUEST 19980601
3895174 3895174LB GREENWALD 35469.96 9.99 312.15 68 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4438248 4438248LB PARKER 36312.18 12.664 393.12 70 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4326237 4326237LB PARSONS 36329.32 11.551 361.88 73 OWNER 360 AMERIQUEST AMERIQUEST 19980501
4045449 4045449LB BOOTH 36708.03 10 323.17 75 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4159166 4159166LB TAYLOR 37413.65 11.5 371.36 72 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4390639 4390639LB COAXUM 46263.72 10.75 524.6 43 OWNER 180 AMERIQUEST AMERIQUEST 19980701
4330114 4330114LB HOWELL 47934.37 12.5 512.28 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
7159809 7159809WN FRANK 47976.49 9.52 404.31 80 OWNER 360 WENDOVER CHADWICK MORTGAGE 19980701
4190757 4190757LB JARNAGIN 49627.13 11.99 510.84 70 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4228862 4228862LB CRAIG 49792.24 6.99 332.32 77 OWNER 360 AMERIQUEST AMERIQUEST 19980601
10092575 10092575WN MALOTT 52474.84 9.625 446.25 70 OWNER 360 WENDOVER WALSH SECURITICS INC 19980701
4226551 4226551LB PEAGLER 52813.69 8.75 416.95 79 OWNER 360 AMERIQUEST AMERIQUEST 19980501
4350914 4350914LB SPEARS 52936.74 11 549.64 75 OWNER 240 AMERIQUEST AMERIQUEST 19980601
4334876 4334876LB WRIGHT 53032.98 8.5 409.45 75 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4398418 4398418LB RUSSELL 53637.98 9.99 520.76 75 OWNER 240 AMERIQUEST AMERIQUEST 19980701
4094546 4094546LB STONE 54466.92 10.5 499.45 70 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4361903 4361903LB BELDEN 54978.02 8.5 424.82 85 OWNER 360 AMERIQUEST AMERIQUEST 19980601
7128291 7128291WN ROBINSON 56203.12 10.3 506.15 75 OWNER 360 WENDOVER PARKWAY 19980610
7147531 7147531WN WALEN 56728.11 8.85 452.5 75 OWNER 360 WENDOVER NEW CENTURY 19980701
4418950 4418950LB PLANT 58033.34 10.5 583.06 80 OWNER 240 AMERIQUEST AMERIQUEST 19980601
4423182 4423182LB PORCHAS 59113.54 11.999 608.9 80 OWNER 360 AMERIQUEST AMERIQUEST 19980701
3974011 3974011LB MCCABE 60815.32 7.99 595.67 75 OWNER 180 AMERIQUEST AMERIQUEST 19980601
4403135 4403135LB MANNING 63045.94 10.5 578.12 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4153854 4153854LB AGUILAR 63547.1 9.99 558.99 75 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4179099 4179099LB MC NEILL 63856.04 10 561.65 71 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4304465 4304465LB MOWRY 64190.09 8 625.95 60 OWNER 180 AMERIQUEST AMERIQUEST 19980601
7148661 7148661WN DAVIS 65371.28 10.5 598.7 79 OWNER 360 WENDOVER NEW CENTURY 19980501
4199543 4199543LB MORALES 66997.74 10.25 602.19 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4356556 4356556LB FORREST 67862.46 10.5 622.03 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4092359 4092359LB NOBLES 69480.28 11.25 676 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
3846797 3846797LB LOPEZ 71113.04 8.999 737.24 80 OWNER 180 AMERIQUEST AMERIQUEST 19980601
4264479 4264479LB REED 73466.03 10.99 700.36 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4221156 4221156LB HEINZ 73547.35 6.75 479.96 76 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4170312 4170312LB DeFELICE 74311.59 6.5 474.05 79 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4221727 4221727LB CASE 74489.25 6.99 497.14 85 OWNER 360 AMERIQUEST AMERIQUEST 19980701
4007126 4007126LB CLAUGHTON 77476.62 7.75 558.28 71 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4080735 4080735LB THREADGILL 80542.32 10.99 768.39 85 OWNER 360 AMERIQUEST AMERIQUEST 19980701
7115751 7115751WN CARPENTER 82405.95 10.75 770.13 75 OWNER 360 WENDOVER PARKWAY 19980704
4275467 4275467LB KAFANTARIS 84935.21 9.656 908.79 51 OWNER 180 AMERIQUEST AMERIQUEST 19980601
4398871 4398871LB MITCHELL 86770.97 9.25 715.73 74 OWNER 360 AMERIQUEST AMERIQUEST 19980601
7101926 7101926WN JUUL 87736.44 8.625 684.46 80 OWNER 360 WENDOVER PAN AMERICAN 19980701
4409652 4409652LB HEADLEY 89797.15 9.99 789.15 75 OWNER 360 AMERIQUEST AMERIQUEST 19980601
7037591 7037591WN WESTFALL 90747.03 10.99 865.93 65 OWNER 360 WENDOVER WMC 19980701
3986676 3986676LB BELL 92886.49 6.5 590.98 85 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4000295 4000295LB BARNES 93847.71 6.99 627.41 80 OWNER 360 AMERIQUEST AMERIQUEST 19980501
4309134 4309134LB JONES 94169.96 10.5 863.51 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4336533 4336533LB HUNT 94879.26 8.25 715.58 75 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4104295 4104295LB BLOOD 99750.16 9.5 840.85 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
2052017 2052017LB SINN 102176.25 12.5 1102.11 75 OWNER 360 AMERIQUEST LONG BEACH MTG 19980601
2163509 2163509LB HOUSTON 102473.05 10.125 920.72 80 OWNER 360 AMERIQUEST LONG BEACH MTG 19980501
4317707 4317707LB MCCLAIN 103836.48 9.5 875.75 77 OWNER 360 AMERIQUEST AMERIQUEST 19980601
7154792 7154792WN EMBLEY 103851.07 9.68 888.18 80 OWNER 360 WENDOVER ASSURANCE 19980701
4404141 4404141LB NICOLAI 108449 10.5 994.78 75 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4368627 4368627LB MABERRY 109826.65 12.5 1173.98 58 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4248035 4248035LB HOFFMAN 111747.54 9.99 982.06 70 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4410833 4410833LB SCHAAF 111802.83 12 1152.05 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4382545 4382545LB CASTILLO 118884.93 10.126 1057.18 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4309845 4309845LB SANDURS 128917.11 11 1230.41 76 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4239505 4239505LB LEWIS 134423.81 7.99 989.64 75 OWNER 360 AMERIQUEST AMERIQUEST 19980601
7056138 7056138WN SUAREZ 138768.82 10.35 1255.93 80 OWNER 360 WENDOVER PARKWAY MORTGAGE 19980714
4403507 4403507LB GREER 151533.02 8.5 1168.75 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
</TABLE>
Page 1 of 2
<PAGE>
<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>
7152689 7152689WN KOLLAR 1020 NORTH KEYSTONE NORTHBROOK IL 60062 SFR 20280301
7027501 7027501WN RANDALL 13489 THIRD STREET YUCAIPA CA 92399 SFR 20280101
4352225 4352225LB KERNS 25376 LINDENWOOD LANE SOUTHFIELD MI 48034 SFR 20280201
4201208 4201208LB CARRILLO 6549 BANTAM LAKE CIR SAN DIEGO CA 92119 SFR 20271201
3841293 3841293LB GRECO 45 STONYBROOK ROAD NORWALK CT 6851 SFR 20271101
4344271 4344271LB ALVISO 4764 LORELEI AVE CITY OF LONG BEACH CA 90808 SFR 20280101
7043540 7043540WN ECKMAN 27 SAGAMORE DRIVE ANDOVER ANDOVER MA 1810 SFR 20271202
4343364 4343364LB BARKSDALE 31 BRANDON ROAD LAWRENCEVILLE NJ 8648 SFR 20280101
4365946 4365946LB CORNWELL 2652 STATE ROAD 13 JACKSONVILLE FL 32259 SFR 20280101
4336145 4336145LB OSGOOD 11386 MIDDLE RIDGE TE SAN DIEGO CA 92128 CONDO 20280101
7024326 7024326WN GENTRY 3075 JAYLEE DRIVE SANTA ROSA CA 95404 SFR 20280201
4302675 4302675LB JOHNSON 4117 RAVENHURST CIRCLE GLEN ARM MD 21057 SFR 20280201
<CAPTION>
Servicer AMRESCO 7/1/1998
Loan Loan Last * Scheduled Current Current Occupancy Original Due
Number Number Name Balance Rate P&I Payment LTV Status Term Servicer Originator Date
------- --------- ---- ------------ ---- ---------- ---- ------ ---- -------- ---------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
7152689 7152689WN KOLLAR 151671.03 9.1 1233.98 80 OWNER 360 WENDOVER NEW CENTURY 19980801
7027501 7027501WN RANDALL 155515.5 9.35 1294.69 80 OWNER 360 WENDOVER AAMES 19980801
4352225 4352225LB KERNS 156978.33 10 1382.18 75 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4201208 4201208LB CARRILLO 160937.89 6.725 1048.04 79 OWNER 360 AMERIQUEST AMERIQUEST 19980601
3841293 3841293LB GRECO 189718.08 6.999 1270.58 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4344271 4344271LB ALVISO 199472.07 10.125 1773.65 80 OWNER 360 AMERIQUEST AMERIQUEST 19980601
7043540 7043540WN ECKMAN 203833.31 9.875 1775.78 76 OWNER 360 WENDOVER PARKWAY MORTGAGE 19980701
4343364 4343364LB BARKSDALE 207487.02 10.5 1907.24 75 OWNER 360 AMERIQUEST AMERIQUEST 19980601
4365946 4365946LB CORNWELL 223776.21 9.75 1933.1 45 OWNER 360 AMERIQUEST AMERIQUEST 19980701
4336145 4336145LB OSGOOD 224011.58 6.5 1423.73 85 OWNER 360 AMERIQUEST AMERIQUEST 19980701
7024326 7024326WN GENTRY 230250.25 8.875 1837.94 70 OWNER 360 WENDOVER PAN AMERICAN 19980701
4302675 4302675LB JOHNSON 247885.57 9.55 2098.59 70 OWNER 360 AMERIQUEST AMERIQUEST 19980601
-------------
Balance 7,323,258.99 *7/1/98 pmt goes to Amresco, 8/1/98 pmt goes to TRUST
=============
Loan Count 84
</TABLE>
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