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Previous: MONEY STORE RESIDENTIAL TRUST 1998-I, 8-K, 1998-07-22 |
Next: MONEY STORE SBA ADJUSTABLE RATE CERTIFICATES 1998-1, 8-K, 1998-07-22 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
-----------------------------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event report) July 15, 1998
-----------------------
The Money Store Inc. (as Representative under a Pooling and Servicing Agreement
dated as of February 28, 1998 providing for the issuance of TMS Asset Backed
Certificates, Series 1998-A) and each of the Originators listed on Schedule A
attached hereto.
The Money Store, Inc.
---------------------
(Exact name of registrant as specified in its charter)
New Jersey
- ----------
Applied for
-----------
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
- -------------------------------------------------
(Address of principal executive officer)
Registrant's Telephone Number,
including area code: (908) 686-2000
--------------
n/a
- -------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5 Other Events
------------
Attached herein as Annex A is a copy of the Monthly Statement sent to Class
A Certificate holders with respect to the July 15, 1998 Remittance Date.
Item 7 Financial Statements and Exhibits
---------------------------------
The quarterly financial statement for the period ended September 30, 1997
for MBIA Inc. is incorporated by reference to the Form 10Q filed by MBIA Inc.
with the Securities and Exchange Commission on November 14, 1997.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE MONEY STORE INC.
By: /s/ Harry Puglisi
----------------------------------
Harry Puglisi
Treasurer
Dated: July 31, 1998
<PAGE>
Schedule A
List of Originators
-------------------
1998-A
------
The Money Store/Minnesota Inc.
The Money Store/D.C. Inc.
The Money Store/ Kentucky Inc.
The Money Store Home Equity Corp.
TMS Mortgage Inc.
<PAGE>
SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.10 OF THE POOLING AND SERVICING AGREEMENT
DATED AS OF FEBRUARY 28,1998, THE MONEY STORE INC. REPORTS THE FOLLOWING
INFORMATION PERTAINING TO SERIES 1998-A FOR THE JULY 10, 1998 DETERMINATION
DATE.
<TABLE>
<CAPTION>
POOL I POOL II POOL III
<S> <C> <C> <C>
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $12,705,373.85 $11,720,007.83 $4,183,882.01
ADJ : RECALCULATION 0.00 0.00 0.00
--------------- ---------------- ---------------
12,705,373.85 11,720,007.83 4,183,882.01
LESS: SERVICE FEE (7.03 & 5.04) 107,116.37 99,590.23 30,278.65
CONTINGENCY FEE (7.03 & 5.04) 107,116.37 99,590.23 30,278.65
OTHER SERVICER FEES (Late Charges / Escrow) (7.03 & 5.04) 120,814.84 220,763.86 8,220.42
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00
--------------- ---------------- ---------------
335,047.58 419,944.32 68,777.72
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 150,390.37 108,897.89 77,847.66
PRE-FUNDING ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00
--------------- ---------------- ---------------
150,390.37 108,897.89 77,847.66
LESS: EXCESS SPREAD (I-19) 1,752,712.20 1,566,852.44 780,849.40
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00
--------------- ---------------- ---------------
1,752,712.20 1,566,852.44 780,849.40
--------------- ---------------- ---------------
AVAILABLE REMITTANCE AMOUNT 10,768,004.43 9,842,108.96 3,412,102.55
===================================================
</TABLE>
2. (A) CLASS AF-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 113,039,811.30
(B) CLASS AF-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 66,000,000.00
(C) CLASS AF3 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 120,000,000.00
(D) CLASS AF-4 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 45,000,000.00
(E) CLASS AF-5 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 59,000,000.00
(F) CLASS AF-6 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 43,000,000.00
(G) CLASS AF-7 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 49,000,000.00
(H) CLASS AF-8 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 30,000,000.00
(I) CLASS AF-9 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 27,000,000.00
(I) CLASS AV PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 512,110,211.51
<PAGE>
(M) CLASS AH-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 46,442,965.84
(N) CLASS AH-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 12,685,000.00
(O) CLASS AH-3 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 29,307,000.00
(P) CLASS AH-4 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 10,406,000.00
(Q) CLASS AH-5 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 18,510,000.00
(S) CLASS MH-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 12,375,000.00
(T) CLASS MH-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 12,581,000.00
(U) CLASS BH PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 13,613,000.00
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS AF-1 9,423,697.39
CLASS AF-2 0.00
CLASS AF-3 0.00
CLASS AF-4 0.00
CLASS AF-5 0.00
CLASS AF-6 0.00
CLASS AF-7 0.00
CLASS AF-8 0.00
CLASS AF-9 0.00
TOTAL POOL I PRINCIPAL DISTRIBUTION AMOUNT: 9,423,697.39
CLASS AV (POOL II) PRINCIPAL DISTRIBUTION 8,747,588.97
CLASS AH-1 3,325,927.04
CLASS AH-2 0.00
CLASS AH-3 0.00
CLASS AH-4 0.00
CLASS AH-5 0.00
CLASS MH-1 0.00
CLASS MH-2 0.00
CLASS BH 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT: 3,325,927.04
4.TOTAL AMOUNT OF POOL I, II & III
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 4,095,730.89
POOL II 3,486,572.34
POOL III 2,073,797.46
(B) SPECIFIED SUBORDINATED AMOUNT
POOL I 17,100,000.00
POOL II 27,825,000.00
POOL III 9,900,000.00
(C) POOL III AVAILABLE MAXIMUM SUBORDINATED AMOUNT 6,366,564.00
6. PRINCIPAL PREPAYMENT RECEIVED DURING
THE DUE PERIOD # ACCOUNTS DOLLARS
POOL I 135 6,035,754.92
POOL II 83 6,315,822.75
POOL III 159 2,050,318.83
<PAGE>
<TABLE>
<S> <C> <C>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 841,148.32
POOL II 927,319.27
POOL III 181,508.56
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 1,127,064.69
POOL II 243,464.60
POOL III 374,861.17
9. AMOUNT OF INTEREST RECEIVED
POOL I 4,580,591.08
POOL II 4,012,637.35
POOL III 1,564,986.61
10. (A) AMOUNT OF MONTHLY ADVANCES INCLUDING COMPENSATING
INTEREST TO BE MADE ON THE DETERMINATION DATE
TO BE DEPOSITED IN THE CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.01 (a) (ii)
POOL I 150,390.37
POOL II 108,897.89
POOL III 77,847.66
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 1,247.54
POOL II 1,461.96
POOL III 1,163.41
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 27,253.04
POOL II 1,747.97
POOL III 0.00
13. CLASS AF-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 598,169.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 9,423,697.39
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-1 REMITTANCE AMOUNT 10,021,866.39
CLASS AF-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 341,275.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-2 REMITTANCE AMOUNT 341,275.00
CLASS AF-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 613,000.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-3 REMITTANCE AMOUNT 613,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS AF-4 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 233,437.50
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-4 REMITTANCE AMOUNT 233,437.50
CLASS AF-5 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 313,191.67
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-5 REMITTANCE AMOUNT 313,191.67
CLASS AF-6 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 231,841.67
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-6 REMITTANCE AMOUNT 231,841.67
CLASS AF-7 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 280,525.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-7 REMITTANCE AMOUNT 280,525.00
CLASS AF-8 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 156,125.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-8 REMITTANCE AMOUNT 156,125.00
CLASS AF-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 144,000.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-9 REMITTANCE AMOUNT 144,000.00
POOL I REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 2,911,564.83
(B) PRINCIPAL DISTRIBUTION AMOUNT 9,423,697.39
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 12,335,262.22
CLASS AV REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 2,488,535.56
(B) PRINCIPAL DISTRIBUTION AMOUNT 8,747,588.97
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AV REMITTANCE AMOUNT 11,236,124.53
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS AH-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 245,954.21
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,325,927.04
TOTAL CLASS AH-1 REMITTANCE AMOUNT 3,571,881.25
CLASS AH-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 65,539.17
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS AH-2 REMITTANCE AMOUNT 65,539.17
CLASS AH-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 150,808.94
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS AH-3 REMITTANCE AMOUNT 150,808.94
CLASS AH-4 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 55,455.31
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS AH-4 REMITTANCE AMOUNT 55,455.31
CLASS AH-5 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 106,586.75
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS AH-5 REMITTANCE AMOUNT 106,586.75
CLASS MH-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 71,001.56
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS MH-1 REMITTANCE AMOUNT 71,001.56
CLASS MH-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 75,800.53
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS MH-2 REMITTANCE AMOUNT 75,800.53
CLASS BH REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 90,356.29
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS BH REMITTANCE AMOUNT 90,356.29
POOL III REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 861,502.74
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,325,927.04
TOTAL POOL III REMITTANCE AMOUNT 4,187,429.78
14.(A) REIMBURSABLE AMOUNTS
POOL I STRIP AMOUNT 118,750.00
POOL II STRIP AMOUNT 106,689.63
(B) CLASS X REMITTANCE AMOUNT PAYABLE PURSUANT
TO SECTION 6.08(d) (iii) AND (iv)
POOL I 0.00
POOL II 0.00
POOL III 0.00
15.(A) CLASS AF-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 103,616,113.91
(B) CLASS AF-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 66,000,000.00
</TABLE>
<PAGE>
(C) CLASS AF-3 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 120,000,000.00
(D) CLASS AF-4 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 45,000,000.00
(E) CLASS AF-5 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 59,000,000.00
(F) CLASS AF-6 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 43,000,000.00
(G) CLASS AF-7 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 49,000,000.00
(H) CLASS AF-8 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 30,000,000.00
(I) CLASS AF-9 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 27,000,000.00
(J) CLASS AV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 503,362,622.54
(K) CLASS AH-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 43,117,038.80
(L) CLASS AH-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 12,685,000.00
(M) CLASS AH-3 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 29,307,000.00
(N) CLASS AH-4 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 10,406,000.00
<PAGE>
<TABLE>
<S> <C>
(O) CLASS AH-5 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 18,510,000.00
(P) CLASS MH-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 12,375,000.00
(Q) CLASS MH-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 12,581,000.00
(R) CLASS BH PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 13,613,000.00
(S) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 542,616,113.91
(T) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 503,362,622.54
(U) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 152,594,038.80
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II AND III) 100.00%
(B) EXCESS SPREAD (POOL I) 1,752,712.20
EXCESS SPREAD (POOL II) 1,566,852.44
EXCESS SPREAD (POOL III) 780,849.40
TOTAL EXCESS SPREAD (POOL I, II and III) 4,100,414.05
(C) REMAINDER EXCESS SPREAD AMOUNT POOL I 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL II 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL III 0.00
TOTAL REMAINDER EXCESS SPREAD AMOUNT POOL I, II and III 0.00
17. CUMULATIVE REALIZED LOSSES
POOL I 34,381.42
POOL II 1,747.97
POOL III 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 279.185
POOL II 353.848
POOL III 215.538
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.661%
POOL II 10.079%
POOL III 12.938%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 107,116.37
POOL II 99,590.23
POOL III 30,278.65
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 107,116.37
POOL II 99,590.23
POOL III 30,278.65
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 19,551.41
POOL II 18,137.24
POOL III 5,522.17
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 47,153.00
POOL II 48,010.00
POOL III 0.00
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE
SERVICERS PURSUANT TO: POOL I POOL II
(A) SECTION 5.04 (b) 0.00 0.00
(B) SECTION 5.04 (c) 0.00 0.00
(C) SECTION 5.04 (d)(ii) 0.00 0.00
(D) SECTION 5.04 (e) 0.00 0.00
(E) SECTION 5.04 (f)(i) 214,232.74 199,180.46
POOL III
(A) SECTION 5.04 (b) 0.00
(B) SECTION 5.04 (c) 0.00
(C) SECTION 5.04 (d)(ii) 0.00
(D) SECTION 5.04 (e) 0.00
(E) SECTION 5.04 (f)(i) 60,557.30
21. CLASS AF-1 POOL FACTOR (I-5):
CURRENT CLASS AF-1 PRINCIPAL BALANCE 103,616,113.91 0.79096270
ORIGINAL CLASS AF-1 PRINCIPAL BALANCE 131,000,000.00
CLASS AF-2 POOL FACTOR (I-5):
CURRENT CLASS AF-2 PRINCIPAL BALANCE 66,000,000.00 1.00000000
ORIGINAL CLASS AF-2 PRINCIPAL BALANCE 66,000,000.00
CLASS AF-3 POOL FACTOR (I-5):
CURRENT CLASS AF-3 PRINCIPAL BALANCE 120,000,000.00 1.00000000
ORIGINAL CLASS AF-3 PRINCIPAL BALANCE 120,000,000.00
CLASS AF-4 POOL FACTOR (I-5):
CURRENT CLASS AF-4 PRINCIPAL BALANCE 45,000,000.00 1.00000000
ORIGINAL CLASS AF-4 PRINCIPAL BALANCE 45,000,000.00
CLASS AF-5 POOL FACTOR (I-5):
CURRENT CLASS AF-5 PRINCIPAL BALANCE 59,000,000.00 1.00000000
ORIGINAL CLASS AF-5 PRINCIPAL BALANCE 59,000,000.00
CLASS AF-6 POOL FACTOR (I-5):
CURRENT CLASS AF-6 PRINCIPAL BALANCE 43,000,000.00 1.00000000
ORIGINAL CLASS AF-6 PRINCIPAL BALANCE 43,000,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS AF-7 POOL FACTOR (I-5):
CURRENT CLASS AF-7 PRINCIPAL BALANCE 49,000,000.00 1.00000000
ORIGINAL CLASS AF-7 PRINCIPAL BALANCE 49,000,000.00
CLASS AF-8 POOL FACTOR (I-5):
CURRENT CLASS AF-8 PRINCIPAL BALANCE 30,000,000.00 1.00000000
ORIGINAL CLASS AF-8 PRINCIPAL BALANCE 30,000,000.00
CLASS AF-9 POOL FACTOR (I-5):
CURRENT CLASS AF-8 PRINCIPAL BALANCE 27,000,000.00 1.00000000
ORIGINAL CLASS AF-8 PRINCIPAL BALANCE 27,000,000.00
POOL I FACTOR:
CURRENT POOL I PRINCIPAL BALANCE 542,616,113.91 0.95195809
ORIGINAL POOL I PRINCIPAL BALANCE 570,000,000.00
CLASS AV (POOL II) FACTOR:
CURRENT CLASS AV PRINCIPAL BALANCE 503,362,622.54 0.94974080
ORIGINAL CLASS AV PRINCIPAL BALANCE 530,000,000.00
CLASS AH-1 POOL FACTOR (I-5):
CURRENT CLASS AH-1 PRINCIPAL BALANCE 43,117,038.80
ORIGINAL CLASS AH-1 PRINCIPAL BALANCE 55,523,000.00 0.77656176
CLASS AH-2 POOL FACTOR (I-5):
CURRENT CLASS AH-2 PRINCIPAL BALANCE 12,685,000.00
ORIGINAL CLASS AH-2 PRINCIPAL BALANCE 12,685,000.00 1.00000000
CLASS AH-3 POOL FACTOR (I-5):
CURRENT CLASS AH-3 PRINCIPAL BALANCE 29,307,000.00
ORIGINAL CLASS AH-3 PRINCIPAL BALANCE 29,307,000.00 1.00000000
CLASS AH-4 POOL FACTOR (I-5):
CURRENT CLASS AH-4 PRINCIPAL BALANCE 10,406,000.00
ORIGINAL CLASS AH-4 PRINCIPAL BALANCE 10,406,000.00 1.00000000
CLASS AH-5 POOL FACTOR (I-5):
CURRENT CLASS AH-5 PRINCIPAL BALANCE 18,510,000.00
ORIGINAL CLASS AH-5 PRINCIPAL BALANCE 18,510,000.00 1.00000000
CLASS MH-1 POOL FACTOR (I-5):
CURRENT CLASS MH-1 PRINCIPAL BALANCE 12,375,000.00
ORIGINAL CLASS MH-1 PRINCIPAL BALANCE 12,375,000.00 1.00000000
CLASS MH-2 POOL FACTOR (I-5):
CURRENT CLASS MH-2 PRINCIPAL BALANCE 12,581,000.00
ORIGINAL CLASS MH-2 PRINCIPAL BALANCE 12,581,000.00 1.00000000
CLASS BH POOL FACTOR (I-5):
CURRENT CLASS BH PRINCIPAL BALANCE 13,613,000.00
ORIGINAL CLASS BH PRINCIPAL BALANCE 13,613,000.00 1.00000000
POOL III FACTOR (I-5):
CURRENT POOL III PRINCIPAL BALANCE 152,594,038.80
ORIGINAL POOL III PRINCIPAL BALANCE 165,000,000.00 0.92481236
</TABLE>
<PAGE>
<TABLE>
<S> <C>
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.661%
POOL II 10.079%
POOL III 12.938%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 10.009%
POOL II 9.417%
POOL III 12.388%
(C) WEIGHTED AVERAGE CLASS AF-1, CLASS AF-2, CLASS AF-3, CLASS AF-4, CLASS AF-5, CLASS AF-6,
CLASS AF-7, CLASS AF-8 AND CLASS AF-9 ADJUST MORTGAGE LOAN REMITTANCE RATE 6.474%
CLASS AV ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.986%
CLASS AH-1, CLASS AH-2, CLASS AH-3, CLASS AH-4, CLASS AH-5, CLASS MH-1,
CLASS MH-2 AND CLASS BH ADJUSTED MORTGAGE LOAN REMITTANCE RATE 6.679%
<CAPTION>
------------------------------------------------
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 04/30/98 05/31/98 06/30/98
------------------------------------------------
<S> <C> <C> <C>
POOL I 10.679% 10.670% 10.661%
POOL II 10.048% 10.056% 10.079%
POOL III 12.931% 12.934% 12.938%
<CAPTION>
<S> <C>
23. CLASS AV REMITTANCE RATE 5.83125%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS AV N/A
24. LIBOR RATE 5.65625%
25. CLASS AV NET FUNDS CAP 9.366%
26. CLASS AV CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
27. (A) AMOUNT OF DISTRIBUTION ALLOCABLE TO LIBOR
INTEREST CARRYOVER 0.00
(B) LIBOR INTEREST CARRYOVER BALANCE 0.00
28. POOL III TRIGGER EVENT IN EFFECT
29. (A) SENIOR PERCENTAGE 100.00%
CLASS B PERCENTAGE 0.00
30. (A) POOL III AGGREGATE APPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-1 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-2 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-3 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-4 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-5 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS MH-1 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS MH-2 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS BH APPLIED REALIZED LOSS AMOUNT 0.00
(B) POOL III AGGREGATE UNAPPLIED REALIZED LOSS AMOUNT
CLASS AH-1 UNAPPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-2 UNAPPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-3 UNAPPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-4 UNAPPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-5 UNAPPLIED REALIZED LOSS AMOUNT 0.00
CLASS MH-1 UNAPPLIED REALIZED LOSS AMOUNT 0.00
CLASS MH-2 UNAPPLIED REALIZED LOSS AMOUNT 0.00
CLASS BH UNAPPLIED REALIZED LOSS AMOUNT
31. POOL III ACCELERATED PRINCIPAL DISTRIBUTION AMOUNT
32. (A) AMOUNT TO BE DEPOSITED INTO THE FHA PREMIUM ACCOUNT
FOR THE DUE PERIOD 3986.42
(B) AMOUNT REIMBURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PUSUANT TO 6.06(b)(i)
33. AMOUNT OF FHA PAYMENTS AND RELATED PAYMENTS
RECEIVED DURING THE MONTH 0.00
34. THE RESERVE AMOUNT FOR THE DUE PERIOD
35. CLAIMS FILED DURING THE DUE PERIOD 0.00
36. CLAIMS PAID DURING THE PERIOD 0.00
37. CLAIMS DENIED BY FHA DURING THE DUE PERIOD 0.00
38. CLAIMS PENDING PAYMENT BY FHA DURING THE DUE PERIOD 0.00
39. NUMBER OF ALL DEFAULTED MORTGAGE LOANS PURCHACHED DURING THE DUE PERIOD 0.00
PRINCIPAL BALANCE OF ALL DEFAULTED MORTGAGE LOANS PURCHACHED DURING THE DUE PERIOD 0.00
</TABLE>
<PAGE>
EXHIBIT O (POOL I)
REMIC DELINQUENCIES AS OF -JUNE 30, 1998
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
1998-A-I $548,131,574.26 10,119 1 TO 29 DAYS 73,488,959.59 1406 13.41%
30 TO 59 DAYS 6,715,821.10 131 1.23%
60 TO 89 DAYS 2,888,854.79 48 0.53%
90 AND OVER 2,233,414.90 35 0.41%
FORECLOSURE 1,357,951.64 15 0.25%
REO PROPERTY 0.00 0 0.00%
TOTALS $86,685,002.02 1,635 15.81%
===============================================
EXHIBIT O (POOL II)
REMIC DELINQUENCIES AS OF -JUNE 30, 1998
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
1998-A-II $508,110,177.23 5,652 1 TO 29 DAYS 66,310,976.62 749 13.05%
30 TO 59 DAYS 6,807,769.41 90 1.34%
60 TO 89 DAYS 4,493,438.13 48 0.88%
90 AND OVER 2,782,521.32 36 0.55%
FORECLOSURE 1,619,323.17 16 0.32%
REO PROPERTY 0.00 0 0.00%
TOTALS $82,014,028.65 939 16.14%
===================================================
</TABLE>
<PAGE>
EXHIBIT O (POOL III)
REMIC DELINQUENCIES AS OF - JUNE 30, 1998
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C>
1998-A-III 155,387,074.74 8589 1 TO 29 DAYS 22,889,706.16 1326 14.73%
30 TO 59 DAYS 2,156,000.01 139 1.39%
60 TO 89 DAYS 1,277,982.31 67 0.82%
90 AND OVER 1,296,037.81 71 0.83%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $27,619,726.29 1603 17.77%
===================================================
</TABLE>
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