SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
[X] Annual report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the period from June 18, 1997
(Commencement of Operations) to December 31, 1997.
[ ] Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the transition period from to
Commission File Number - 333-27355
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION,(as depositor under the
Pooling and Servicing Agreement, dated as of June 18, 1997, which forms Irwin
Home Equity Corporation Trust 1997-1, which will issue the Irwin Home Equity
Corporation Trust 1997-1, Mortgage Pass-Through Certificates, Series 1997-1).
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 13-3526694
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
One New York Plaza
New York, New York 10292
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code : (212) 778-1000
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [X]
Page 1 of 6
This report consists of 6 consecutively numbered pages.
Documents incorporated by reference: none
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PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
Irwin Home Equity Corporation Trust 1997-1
- - ---------------------------------------------------
TABLE OF CONTENTS
Page
PART I
Item 1. Business....................................................3
Item 2. Properties..................................................3
Item 3. Legal Proceedings...........................................3
Item 4. Submission of Matters to a Vote of Security Holders.........3
PART II
Item 5. Market for Registrant's Common Equity and Related
Stockholder Matters.........................................3
Item 6. Selected Financial Data.....................................3
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations.........................3
Item 8. Financial Statements and Supplementary Data.................3
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure.........................3
PART III
Item 10. Directors and Executive Officers of the Registrant..........3
Item 11. Executive Compensation......................................3
Item 12. Security Ownership of Certain Beneficial
Owners and Management..................................3
Item 13. Certain Relationships and Related Transactions..............3
PART IV
Item 14. Exhibits, Financial Statement Schedules and
Reports on Form 8-K.........................................4
SIGNATURE................................................................5
Supplemental Information to be Furnished with Reports Filed
Pursuant to Section 15(d) of the Act by Registrants Which
Have Not Registered Securities Pursuant to Section 12 of the Act.........6
<PAGE>
PART I
Item 1. Business
Omitted.
Item 2. Properties
Omitted.
Item 3. Legal Proceedings
The Registrant is not aware of any material legal proceeding with respect to a
Pool, the Trustee, the Servicer or Prudential Securities Secured Financing
Corporation, with respect to a Pool, other than ordinary routine litigation
incidental to the duties of the Trustee or Servicer under the related Pooling
and Servicing Agreement.
Item 4. Submission of Matters to a Vote of Security Holders
No matter was submitted to a vote or consent of Certificateholders during the
fiscal year covered by this report.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters
The Trust does not issue stock. There is currently no established secondary
market for the Certificates. As of January 30, 1998, there were eleven (11)
Certificateholders.
Item 6. Selected Financial Data
Omitted.
Item 7. Management's Discussion and Analysis of Financial condition and Results
of Operations
Omitted.
Item 8. Financial Statements and Supplementary Data
Omitted.
Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure
There was no change of accountants or disagreement with accountants on any
matter of accounting principles or practices or financial disclosure.
PART III
Item 10. Directors and Executive Officers of the Registrant
Omitted.
Item 11. Executive Compensation
Omitted.
Item 12. Security Ownership of Certain Beneficial Owners and Management
Omitted.
Item 13. Certain Relationships and Related Transactions
Omitted.
<PAGE>
PART IV
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a) The following documents are filed as part of this report:
(1) Financial Statements:
Omitted.
(2) Financial Statement Schedules:
Omitted.
(3) Exhibits:
Omitted.
(b) Reports on Form 8-K: The following Current Reports on Form 8-K were
filed by the Registrant.
A Current Report on Form 8-K, dated January 30, 1998, was filed for the purpose
of filing the Monthly Certificateholder Statements for payments made on July 15,
1997 and August 15, 1997, respectively. A Current Report on Form 8-K, dated
January 30, 1998, was filed for the purpose of filing the Monthly
Certificateholder Statements for payments made on September 15, 1997 and October
15, 1997, respectively. A Current Report on Form 8-K, dated January 30, 1998,
was filed for the purpose of filing the Monthly Certificateholder Statements for
payments made on November 15, 1997, December 15, 1997, and January 15, 1998,
respectively. The items reported in such Current Report were Item 5 (Other
Events).
(c) Exhibits to this report are listed in Item (14)(a)(3) above.
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SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) 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.
CHASE MANHATTAN BANK
not in its individual capacity but solely
as Trustee for Irwin Home Equity
Corporation Trust 1997-1
Date: March 31, 1998 By: /s/ Regina Bergeland
----------------
Regina Bergeland
Chase Manhattan Bank
Vice President
<PAGE>
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION
15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO
SECTION 12 OF THE ACT.
The registrant has not sent an annual report or proxy material to its security
holders. The registrant will not be sending an annual report or proxy material
to its security holders subsequent to the filing of this form.
