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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) 05/17/99
The Money Store Inc. (as Representative under a Pooling and Servicing
Agreement dated as of February 28, 1998 providing for the issuance of
TMS SBA Loan-Backed Adjustable Rate Certificates, Series 1998-1, Class
A and Class B), The Money Store Investment Corporation, The Money
Store Commercial Mortgage Inc. and The Money Store of New York, Inc.
The Money Store, Inc.
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(Exact name of regristrant as specified in its charter)
New Jersey Applied For
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State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
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(Address of principal executive officer)
Registrant's Telephone Number,
including area code: 908-686-2000
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n/a
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(Former name or former address, if changed since last report)
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Item 5 Other Events
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Attached herein as Annex A is a copy of the Monthly Statement sent to Class A
Certificate holders with respect to Remittance Date of: 05/17/99
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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.
THE MONEY STORE INVESTMENT CORPORATION
THE MONEY STORE COMMERCIAL MORTGAGE INC.
THE MONEY STORE OF NEW YORK INC.
By: /s/ Arthur Lyon
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Name: Arthur Lyon
Title: Senior Vice President
Dated: 05/28/99
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SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.09 OF THE POOLING AND SERVICING AGREEMENT
DATED AS OF FEBRUARY 28, 1998, THE MONEY STORE INVESTMENT CORPORATION
REPORTS THE FOLLOWING INFORMATION PERTAINING TO SERIES 1998-1 FOR THE MAY
12, 1999 DETERMINATION DATE
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1. AVAILABLE FUNDS $ 5,399,227.11
2. (A) AGGREGATE CLASS A CERTIFICATE
PRINCIPAL BALANCE AS REPORTED IN THE PRIOR MONTH 77,330,923.24
(B) AGGREGATE CLASS B CERTIFICATE
PRINCIPAL BALANCE AS REPORTED IN THE PRIOR MONTH 5,820,607.10
(C) AGGREGATE POOL PRINCIPAL BALANCE
AS REPORTED IN THE PRIOR MONTH 83,151,530.34
3. PRINCIPAL PREPAYMENTS RECEIVED DURING
DUE PERIOD
(A) NUMBER OF ACCOUNTS 7
(B) DOLLARS 908,498.54
4. PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED
BY CURTAILMENTS RECEIVED DURING THE DUE PERIOD 31,876.78
5. PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED
BY ALL EXCESS AND MONTHLY PAYMENTS IN RESPECT OF
PRINCIPAL RECEIVED DURING THE DUE PERIOD 210,159.02
5A. RECOVERIES ON LIQUIDATED LOANS 0.00
6. AGGREGATE AMOUNT OF INTEREST RECEIVED NET OF THE FTA's
FEE, PREMIUM PROTECTION FEE, ADDITIONAL FEE AND PORTION
PAYABLE TO REGISTERED HOLDERS 997,867.11
7. (A) AMOUNT OF MONTHLY ADVANCE 0.00
(B) AMOUNT OF COMPENSATING INTEREST 2,300.97
8. DELINQUENCY AND FORECLOSURE INFORMATION
(SEE EXHIBIT K)
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9. PRODUCT OF THE UNGUARANTEED PERCENTAGE MULTIPLIED BY
REALIZED LOSSES ON A LIQUIDATED LOAN 0.00
10. (A) CLASS A INTEREST DISTRIBUTION AMOUNT:
(i) ACCRUED INTEREST 349,922.40
(ii) SHORTFALL, IF ANY, ON A PRECEDING
REMITTANCE DATE PLUS INTEREST 0.00
(iii) CLASS A INTEREST DISTRIBUTION AMOUNT
ADJUSTMENT 2,134.30
ADJUSTED CLASS A INTEREST DISTRIBUTION AMOUNT 352,056.70
4.20617324
(B) CLASS B INTEREST DISTRIBUTION AMOUNT:
(i) ACCRUED INTEREST 28,375.50
(ii) SHORTFALL, IF ANY, ON A PRECEDING
REMITTANCE DATE PLUS INTEREST 0.00
(iii) CLASS B INTEREST DISTRIBUTION AMOUNT
ADJUSTMENT 173.03
ADJUSTED CLASS B INTEREST DISTRIBUTION AMOUNT 28,548.53
4.53151270
(C) CLASS A PRINCIPAL DISTRIBUTION AMOUNT:
(i) UNGUARANTEED PERCENTAGE OF PAYMENTS
AND OTHER RECOVERIES OF PRINCIPAL 1,069,996.94
(ii) PRINCIPAL PORTION OF THE UNGUARANTEED
INTEREST PURCHASED FOR BREACH OF
WARRANTY AND RECEIVED BY THE TRUSTEE 0.00
(iii) SUBSTITUTION ADJUSTMENTS 0.00
(iv) UNGUARANTEED PERCENTAGE OF
LOSSES THAT WERE LIQUIDATED 0.00
(v) UNGUARANTEED PERCENTAGE OF SBA LOAN
DELINQUENT 24 MONTHS OR
UNCOLLECTIBLE 0.00
(vi) AMOUNT RELEASED FROM PRE-FUNDING ACCOUNT 0.00
(vii) RECALCULATED PRINCIPAL ADJUSTMENT 0.00
TOTAL CLASS A PRINCIPAL DISTRIBUTION AMOUNT 1,069,996.94
12.78371493
(D) CLASS B PRINCIPAL DISTRIBUTION AMOUNT:
(i) UNGUARANTEED PERCENTAGE OF PAYMENTS
AND OTHER RECOVERIES OF PRINCIPAL 80,537.40
(ii) PRINCIPAL PORTION OF THE UNGUARANTEED
INTEREST PURCHASED FOR BREACH OF
WARRANTY AND RECEIVED BY THE TRUSTEE 0.00
(iii) SUBSTITUTION ADJUSTMENTS 0.00
(iv) UNGUARANTEED PERCENTAGE OF
LOSSES THAT WERE LIQUIDATED 0.00
(v) UNGUARANTEED PERCENTAGE OF SBA LOAN
DELINQUENT 24 MONTHS OR
UNCOLLECTIBLE 0.00
(vi) AMOUNT RELEASED FROM PRE-FUNDING ACCOUNT 0.00
(vii) RECALCULATED PRINCIPAL ADJUSTMENT 0.00
TOTAL CLASS B PRINCIPAL DISTRIBUTION AMOUNT 80,537.40
12.78371429
11. (A) AMOUNT AVAILABLE IN THE SPREAD ACCOUNT
IN CASH AND FROM LIQUIDATION OF
PERMITTED INSTRUMENTS 3,448,477.90
(B) TRANSFER FROM SPREAD ACCOUNT TO CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.02(b)(i) 0.00
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12. (A) AGGREGATE CLASS A CERTIFICATE PRINCIPAL
BALANCE AFTER DISTRIBUTIONS TO BE MADE
ON THE REMITTANCE DATE 76,260,926.30
911,12217802
(B) AGGREGATE CLASS B CERTIFICATE PRINCIPAL
BALANCE AFTER DISTRIBUTIONS TO BE MADE
ON THE REMITTANCE DATE 5,740,069.70
911.12217460
(C) POOL PRINCIPAL BALANCE AFTER DISTRIBUTIONS
TO BE MADE ON THE REMITTANCE DATE 82,000,996.00
911,12217778
13. (A) EXCESS SPREAD 257,964.95
(B) EXTRA INTEREST 268,253.70
(C) SPREAD ACCOUNT BALANCE 3,448,477.90
(D) SPECIFIED SPREAD ACCOUNT REQUIREMENT 3,468,565.27
14. (A) WEIGHTED AVERAGE MATURITY 212.166
(B) WEIGHTED AVERAGE SBA LOAN INTEREST RATE 9.826%
15. (A) SERVICING FEE FOR THE RELATED DUE PERIOD 97,918.67
(B) PREMIUM PROTECTION FEE FOR THE RELATED
DUE PERIOD 99,733.57
(C) AMOUNTS TO BE DEPOSITED TO THE EXPENSE
ACCOUNT 4,157.58
16. AMOUNT OF REIMBURSEMENTS PURSUANT TO: 0.00
(A) SECTION 5.04 (b)
(B) SECTION 5.04 (c) 0.00
(C) SECTION 5.04 (d)(ii) 13,173.91
(D) SECTION 5.04 (e) 0.00
(E) SECTION 5.04 (f) 101,577.34
17. (A) CLASS A REMITTANCE RATE 5.430%
(B) CLASS B REMITTANCE RATE 5.850%
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18. (A) AGGREGATE PRINCIPAL BALANCE OF THE SUBSEQUENT SBA
LOANS PURCHASED DURING THE PRIOR DUE PERIOD 0.00
(B) AMOUNT ON DEPOSIT IN THE PRE-FUNDING ACCOUNT AS OF THE END OF
SUCH DUE PERIOD 0.00
19. OTHER INFORMATION AS REQUESTED
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I, Arthur Lyon, Senior Vice President, represent that The Money Store Investment
Corporation complied with section 6.09 of the Pooling and Servicing Agreement
dated February 28, 1998 pertaining to Series 1998 - 1 in preparing the
accompanying Servicer's Certificate.
THE MONEY STORE INVESTMENT CORPORATION
BY: _________________________________
ARTHUR LYON
SENIOR VICE PRESIDENT
