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<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) August 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 August 17, 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: August 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 AUGUST 12, 1998
DETERMINATION DATE.
<TABLE>
<CAPTION>
POOL I POOL II POOL III
<S> <C> <C> <C>
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $14,362,114.81 $15,695,132.41 $4,754,005.46
ADJ : RECALCULATION 0.00 0.00 0.00
------------------------------------------------------
14,362,114.81 15,695,132.41 4,754,005.46
LESS: SERVICE FEE (7.03 & 5.04) 110,550.98 103,679.41 31,667.44
CONTINGENCY FEE (7.03 & 5.04) 110,550.98 103,679.41 31,667.44
OTHER SERVICER FEES (Late Charges / Escrow) (7.03 & 5.04) 117,426.60 179,818.31 14,038.33
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00
------------------------------------------------------
338,528.56 387,177.13 77,373.21
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 0.00 0.00 0.00
PRE-FUNDING ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00
CAPITALIZED INTEREST ACCOUNT TRANSFER (6.02) 0.00 0.00 0.00
------------------------------------------------------
0.00 0.00 0.00
LESS: EXCESS SPREAD (I-19) 1,721,326.88 1,304,695.30 768,107.58
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00
------------------------------------------------------
1,721,326.88 1,304,695.30 768,107.58
--------------- ----------------- ----------------
AVAILABLE REMITTANCE AMOUNT 12,302,259.37 14,003,259.98 3,908,524.67
=============== ================= ================
2. (A) CLASS AF-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 103,616,113.91
(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 503,362,622.54
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(M) CLASS AH-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 43,117,038.80
(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
(R) CLASS MH-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 12,375,000.00
(S) CLASS MH-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 12,581,000.00
(T) CLASS BH PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 13,613,000.00
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS AF-1 10,977,572.83
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: 10,977,572.83
CLASS AV (POOL II) PRINCIPAL DISTRIBUTION 12,447,440.12
CLASS AH-1 3,827,338.69
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: 3,827,338.69
4.TOTAL AMOUNT OF POOL I, II & III
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 5,471,822.48
POOL II 4,746,370.11
POOL III 2,793,035.94
(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 159 7,466,277.50
POOL II 108 9,387,432.75
POOL III 158 2,422,145.12
</TABLE>
<PAGE>
<TABLE>
<S> <C>
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 1,312,222.97
POOL II 1,756,336.08
POOL III 283,256.39
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 763,129.95
POOL II 190,893.90
POOL III 390,343.53
9. AMOUNT OF INTEREST RECEIVED
POOL I 4,703,057.79
POOL II 4,180,651.37
POOL III 1,640,076.36
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 0.00
POOL II 0.00
POOL III 0.00
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 1,590.18
POOL II 187.91
POOL III 1,315.33
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 43,637.87
POOL II 1,184.58
POOL III 0.00
13. CLASS AF-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 548,301.94
(B) PRINCIPAL DISTRIBUTION AMOUNT 10,977,572.83
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-1 REMITTANCE AMOUNT 11,525,874.77
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>
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 2,861,697.77
(B) PRINCIPAL DISTRIBUTION AMOUNT 10,977,572.83
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 13,839,270.60
CLASS AV REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 2,690,630.52
(B) PRINCIPAL DISTRIBUTION AMOUNT 12,447,440.12
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AV REMITTANCE AMOUNT 15,138,070.64
<PAGE>
<TABLE>
<S> <C> <C>
CLASS AH-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 228,340.65
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,827,338.69
TOTAL CLASS AH-1 REMITTANCE AMOUNT 4,055,679.34
CLASS AH-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 65,539.17
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
65,539.17
TOTAL CLASS AH-2 REMITTANCE AMOUNT
CLASS AH-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 150,808.94
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
150,808.94
TOTAL CLASS AH-3 REMITTANCE AMOUNT
CLASS AH-4 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 55,455.31
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
55,455.31
TOTAL CLASS AH-4 REMITTANCE AMOUNT
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 843,889.19
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,827,338.69
TOTAL POOL III REMITTANCE AMOUNT 4,671,227.88
14. (A) REIMBURSABLE AMOUNTS
POOL I STRIP AMOUNT 118,750.00
POOL II STRIP AMOUNT 104,867.21
(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 92,638,541.08
(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 490,915,182.42
(K) CLASS AH-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 39,289,700.11
(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 531,638,541.08
(T) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 490,915,182.42
(U) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 148,766,700.11
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II AND III) 100.00%
(B) EXCESS SPREAD (POOL I) 1,721,326.88
EXCESS SPREAD (POOL II) 1,304,695.30
EXCESS SPREAD (POOL III) 768,107.58
TOTAL EXCESS SPREAD (POOL I, II and III) 3,794,129.75
(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 78,019.29
POOL II 2,932.55
POOL III 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 278.318
POOL II 352.848
POOL III 215.047
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.651%
POOL II 10.104%
POOL III 12.939%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 110,550.98
POOL II 103,679.41
POOL III 31,667.44
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 110,550.98
POOL II 103,679.41
POOL III 31,667.44
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 19,217.65
POOL II 17,827.43
POOL III 5,404.37
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 46,348.00
POOL II 47,190.00
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) 221,101.96 207,358.82
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) 63,334.88
21. CLASS AF-1 POOL FACTOR (I-5):
CURRENT CLASS AF-1 PRINCIPAL BALANCE 92,638,541.08 0.70716444
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-9 PRINCIPAL BALANCE 27,000,000.00 1.00000000
ORIGINAL CLASS AF-9 PRINCIPAL BALANCE 27,000,000.00
POOL I FACTOR:
CURRENT POOL I PRINCIPAL BALANCE 531,638,541.08 0.93269919
ORIGINAL POOL I PRINCIPAL BALANCE 570,000,000.00
CLASS AV (POOL II) FACTOR:
CURRENT CLASS AV PRINCIPAL BALANCE 490,915,182.42 0.92625506
ORIGINAL CLASS AV PRINCIPAL BALANCE 530,000,000.00
CLASS AH-1 POOL FACTOR (I-5):
CURRENT CLASS AH-1 PRINCIPAL BALANCE 39,289,700.11
ORIGINAL CLASS AH-1 PRINCIPAL BALANCE 55,523,000.00 0.70762927
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 148,766,700.11
ORIGINAL POOL III PRINCIPAL BALANCE 165,000,000.00 0.90161636
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.651%
POOL II 10.104%
POOL III 12.939%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 9.999%
POOL II 9.442%
POOL III 12.389%
(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 6.473%
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 6.686%
-----------------------------------------------------------------------------------
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 05/31/98 06/30/98 07/31/98
-----------------------------------------------------------------------------------
POOL I 10.670% 10.661% 10.651%
POOL II 10.056% 10.079% 10.104%
POOL III 12.934% 12.938% 12.939%
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 9.389%
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 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS AH-2 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS AH-3 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS AH-4 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS AH-5 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS MH-1 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS MH-2 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS BH UNAPAID 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 4145.73
(B) AMOUNT REIMBURURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PURSUANT TO 6.06(b)(i)
33. AMOUNT OF FHA PAYMENTS AND RELATED PAYMENTS
RECEIVED DURING THE DUE PERIOD 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 -JULY 31, 1998
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1998-A-I $538,546,305.97 9,958 1 TO 29 DAYS 74,929,387.91 1427 13.91%
30 TO 59 DAYS 8,815,434.80 165 1.64%
60 TO 89 DAYS 4,508,639.64 82 0.84%
90 AND OVER 3,788,576.44 63 0.70%
FORECLOSURE 2,313,225.63 25 0.43%
REO PROPERTY 0.00 0 0.00%
TOTALS $94,355,264.42 1,762 17.52%
==================================================
<CAPTION>
EXHIBIT O (POOL II)
REMIC DELINQUENCIES AS OF -JULY 31, 1998
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1998-A-II $496,774,329.92 5,543 1 TO 29 DAYS 65,928,269.25 763 13.27%
30 TO 59 DAYS 9,962,876.36 129 2.01%
60 TO 89 DAYS 3,843,679.60 49 0.77%
90 AND OVER 3,899,375.13 46 0.78%
FORECLOSURE 2,912,525.16 30 0.59%
REO PROPERTY 0.00 0 0.00%
TOTALS $86,546,725.50 1,017 17.42%
==================================================
</TABLE>
<PAGE>
EXHIBIT O (POOL III)
REMIC DELINQUENCIES AS OF -JULY 31, 1998
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1998-A-III 152,291,329.70 8420 1 TO 29 DAYS 22,078,151.94 1278 14.50%
30 TO 59 DAYS 2,655,080.35 162 1.74%
60 TO 89 DAYS 1,370,616.16 90 0.90%
90 AND OVER 2,258,300.92 122 1.48%
FORECLOSURE 63,110.00 2 0.04%
REO PROPERTY 0.00 0 0.00%
TOTALS $28,425,259.37 1654 18.67%
=============================================
</TABLE>
<PAGE>
1998-A
The following additional information, presented in dollars, pursuant to Secton
6.10 subclauses (ii), (vi), (vii), (viii), (xiii), (xv), (xxxvi) is provided for
each Class per $1,000 (or per $25,000 for Class A-11) original dollar amount as
of the Cut-Off Date.
<TABLE>
<CAPTION>
POOL I
SUBCLAUSE CLASS AF-1 CLASS AF-2 CLASS AF-3 CLASS AF-4 CLASS AF-5 CLASS AF-6
- ---------- ---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
(ii) 790.96 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
(vi) 56.99 0.00 0.00 0.00 0.00 0.00
(vii) 10.02 0.00 0.00 0.00 0.00 0.00
(viii) 5.83 0.00 0.00 0.00 0.00 0.00
(xiii) (a) 4.19 5.17 5.11 5.19 5.31 5.39
(b) 83.80 0.00 0.00 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00 0.00
(xv) 707.16 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
Pool I
Pool II Pool III
SUBCLAUSE CLASS AF-7 CLASS AF-8 CLASS AF-9 CLASS AV CLASS AH-1 CLASS AH-2
- ---------- ---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 1,000.00 949.74 776.56 1,000.00
(vi) 0.00 0.00 0.00 17.71 43.62 0.00
(vii) 0.00 0.00 0.00 3.31 5.10 0.00
(viii) 0.00 0.00 0.00 0.36 7.03 0.00
(xiii) (a) 5.73 5.20 5.33 5.08 0.00 5.17
(b) 0.00 0.00 0.00 23.49 0.00 0.00
(c) 0.00 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00 0.00
(xv) 1,000.00 1,000.00 1,000.00 926.26 707.63 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL III
SUBCLAUSE CLASS AH-3 CLASS AH-4 CLASS AH-5 CLASS MH-1 CLASS MH-2 CLASS BH
- ---------- ---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
(vi) 0.00 0.00 0.00 0.00 0.00 0.00
(vii) 0.00 0.00 0.00 0.00 0.00 0.00
(viii) 0.00 0.00 0.00 0.00 0.00 0.00
(xiii) (a) 5.15 5.33 5.76 5.74 6.03 6.64
(b) 0.00 0.00 0.00 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00 0.00
(xv) 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
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