October 1, 1998
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Lehman Home Equity Loan Trust 1997-1 Home Equity Loan Asset-Backed
Certificates, Series 1997-1 File No. 333-14293.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the "Trust")
created pursuant to a Pooling and Servicing Agreement dated as of December
1, 1997 (the "Pooling and Servicing Agreement") among Lehman ABS
Corporation, as Depositor (the "Depositor"), Home Loan and Investment
Bank, F.S.B., as Seller and Servicer (the "Seller" and the "Servicer",
respectively), and Bankers Trust Company of California, N.A., as Trustee
(the "Trustee).
The Home Equity Loan Asset-Backed Certificates, Series 1997-1 (the
"Certificates"), will consist of three Classes (each , a "Class") of
senior Certificates, the Class A-1 Certificates, the Class A-2
Certificates (together, the Fixed Rate Certificates") and the Class A-3
Certificates (the "Variable Rate Certificates" and together with the Fixed
Rate Certificates the "Class A Certificates") and one Class of
subordinated Certificates (the "Class R Certificates"). Only the Class A
Certificates are being offered hereby.
The Certificates will evidence in the aggregate the entire beneficial
interest in a pool (the "Mortgage Pool") of closed-end home equity loans
(the "Mortgage Loans") consisting of two groups (each a "Group", or with
respect to the Class A Certificates, "Group" means the Class or Classes
of Class A Certificates that relate to the corresponding Group of Mortgage
Loans) held by Lehman Home Equity Loan Trust 1997-1 (the "Trust") to be
formed pursuant to a Pooling and Servicing Agreement among Lehman ABS
Corporation, as Depositor, Home Loan and Investment Bank, F.S.B. ("Home
Loan"), as Seller and Servicer, and Bankers Trust Company of California,
N.A., as Trustee. The Fixed Rate Certificates will represent undivided
ownership interests in the Group I Mortgage Loans which are closed-end
fixed rate home equity loans. The Variable Rate Certificates will
represent undivided ownership interests in the Group II Mortgage Loans
which are closed-end adjustable rate home equity loans. The assets of the
Trust will also include certain other property. The Mortgage Loans are
secured by first, second and third deeds of trust or mortgages primarily
on one-to four-family residential properties.
All of the Mortgage Loans will be acquired by Lehman ABS Corporation (the
"Depositor") from Home Loan. The aggregate undivided interest in the
Trust represented by the Fixed Rate Certificates will initially be equal
to $36,638,000, which as of April 1, 1997 (the "Cut-Off Date") is
approximately 100% of the sum of the outstanding Principal Balances (as
defined in the Prospectus Supplement dated March 16, 1997) of the
Mortgage Loans in Group I. The aggregate undivided interest in the Trust
represented by the Variable Rate Certificates will initially be equal to
$15,687,000, which as of the Cut-Off Date is approximately 100% of the
outstanding Principal Balances of the Mortgage Loans in Group II.
The Offered Certificates were registered under the Securities Act of
1933, as amended, by a Registration Statement on Form S-11 (File No.
333-14293). As a result, the Trust is subject to the filing requirements
of Section 15(d) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"). The Trust intends to fulfill these filing requirements
in the manner described herein:
The Trust will file, promptly after each Distribution Date (as defined in
the Pooling and Servicing Agreement), a Current Report on Form 8-K I
substantially the form enclosed herewith, including as an exhibit thereto
the applicable Distribution Date report. Each such Current Report will
also disclose under Item 5 any matter occurring during the relevant
reporting period which would be reportable under Item 1, 2, 4 or 5 of Part
II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will file an
annual report of Form 10-K which responds to Items 2, 3, and 4 of Part I,
Items 5 and 9 of Part II, Items 12 and 13 of Part III and Item 14 of Part
IV thereof, and include as exhibits thereto certain information from the
Distribution Date reports aggregated for such year and a copy of the
independent accountants' annual compliance statement required under the
Pooling and Servicing Agreement.
The Trust will follow the above procedures except for any fiscal year as
to which its reporting obligations under Section 15(d) of the Exchange Act
have been suspended pursuant to such Section. In such event, the Trust
will file a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call Judy
L. Gomez at (714) 253-7562.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Lehman ABS Corporation Home Equity Loan Trust
1997-1 Home Equity Loan Asset-Backed Certificates, Series 1997-1.
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): May 25,
1997.
LEHMAN ABS CORPORATION,
as Depositor (the "Depositor"), Home Loan and Investment Bank, F.S.B., as
Seller and Servicer (the "Seller" and the "Servicer", respectively), and
Bankers Trust Company of California, N.A., as Trustee (the "Trustee) under
the Pooling and Servicing Agreement, dated as of April 1, 1997,
providing for the issuance of the Home Equity Loan Asset-Backed
Certificates, Series 1997-1).
LEHMAN HOME EQUITY TRUST 1997-1 HOME EQUITY LOAN ASSET-BACKED
CERTIFICATES, SERIES 1997-1.
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-14293 13-3447441
(Commission File Number) (I.R.S. Employer Identification No.)
THREE WORLD FINANCIAL CENTER
20 VESEY STREET
NEW YORK, NEW YORK 10022
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212)526-7000
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements
to the Certificateholders which was derived from the monthly
information submitted by the Master Servicer of the Trust to the
Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Report to Certificateholders as to distributions made on
May 15, 1997.
Monthly Report to Certificateholders as to distributions made on
June 16, 1997.
Monthly Report to Certificateholders as to distributions made on
July 15, 1997.
Monthly Report to Certificateholders as to distributions made on
August 15, 1997.
Monthly Report to Certificateholders as to distributions made on
September 15, 1997.
Monthly Report to Certificateholders as to distributions made on
October 15, 1997.
Monthly Report to Certificateholders as to distributions made on
November 17, 1997.
Monthly Report to Certificateholders as to distributions made on
December 15, 1997.
Monthly Report to Certificateholders as to distributions made on
January 15, 1998.
Monthly Report to Certificateholders as to distributions made on
February 17, 1998.
Monthly Report to Certificateholders as to distributions made on
March 16, 1998.
Monthly Report to Certificateholders as to distributions made on
April 15, 1998.
Monthly Report to Certificateholders as to distributions made on
May 15, 1998.
Monthly Report to Certificateholders as to distributions made on
June 15, 1998.
Monthly Report to Certificateholders as to distributions made on
July 15, 1998.
SIGNATURE
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.
Bankers Trust Company of California,
N.A., not in its individual
capacity, but solely as a duly
authorized agent of the Registrant
pursuant to the Pooling and
Servicing Agreement, dated as of
April 1, 1997.
Date: October 1, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the Certificateholders 6
dated as of May 15, 1997.
Monthly Remittance Statement to the Certificateholders 15
dated as of June 16, 1997.
Monthly Remittance Statement to the Certificateholders 25
dated as of July 15, 1997.
Monthly Remittance Statement to the Certificateholders 35
dated as of August 15, 1997.
Monthly Remittance Statement to the Certificateholders 44
dated as of September 15, 1997.
Monthly Remittance Statement to the Certificateholders 55
dated as of October 15, 1997.
Monthly Remittance Statement to the Certificateholders 63
dated as of November 17, 1997.
Monthly Remittance Statement to the Certificateholders 74
dated as of December 15, 1997.
Monthly Remittance Statement to the Certificateholders 84
dated as of January 15, 1998.
Monthly Remittance Statement to the Certificateholders 94
dated as of February 17, 1998.
Monthly Remittance Statement to the Certificateholders 104
dated as of March 16, 1998.
Monthly Remittance Statement to the Certificateholders 112
dated as of April 15, 1998.
Monthly Remittance Statement to the Certificateholders 124
dated as of May 15, 1998.
Monthly Remittance Statement to the Certificateholders 134
dated as of June 15, 1998.
Monthly Remittance Statement to the Certificateholders 144
dated as of July 15, 1998.
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Revised
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 21,962,000.00 130,124.84 224,788.45
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 15,687,000.00 51,483.86 182,564.89
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 52,325,000.00 227,002.70 407,353.34
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 354,913.29 0.00 0.00 21,737,211.55
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 234,048.75 0.00 0.00 15,504,435.11
R 0.00 0.00 0.00 0.00
TOTALS 684,356.04 0.00 0.00 51,917,646.66
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 1,000.0000000 5.9249995 10.2353360
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 1,000.0000000 3.2819443 11.6379735
R 0.0000000 0.0000000 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 16.1603356 989.7646640
A-2 6.5000000 1,000.0000000
A-3 14.9199178 988.3620265
R 0.0.00000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.907500 5.907500%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: April 30, 1997
DISTRIBUTION DATE: May 15, 1997
ADMINISTRATOR: Whitney Iger
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Revised
Statement to Certificateholders
Distribution Date: May 15, 1997
ACCRUED SERVICING FEE COLLECTED: 19,757.87
PERMITTED REDUCTIONS TO SERVICING FEES: 0.00
TOTAL SERVICING FEES DUE MASTER SERVICER: 19,757.87
AMOUNT OF MONTHLY ADVANCES: 44,085.29
AMOUNT OF COMPENSATING INTEREST: 3,714.72
AMOUNT DUE THE CERTIFICATE INSURER: 6,235.31
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 0.00 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0
% OF LOANS REMAINING 0.0000% 0.0000% 0.0000%
GROUP 2 PRINCIPAL BALANCE 129,629.27 0.00 0.00
% OF ENDING POOL BALANCE 0.8361% 0.0000% 0.0000%
NUMBER OF LOANS 2 0 0
% OF LOANS REMAINING 0.7905% 0.0000% 0.0000%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 36,638,164.39
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 36,413,375.94
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,504,492.51
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 51,917,868.45
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 669
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 666
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 255
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 253
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 924
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 919
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 209
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 291
Page 2 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Revised
Statement to Certificateholders
Distribution Date: May 15, 1997
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 306,944.52
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 5
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 36,453.21
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 63,955.61
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 48,112.85
CURTAILMENTS 27,756.34
PREPAYMENTS 148,919.26
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRICIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 224,788.45
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 15,842.76
CURTAILMENTS 8,696.87
PREPAYMENTS 158,025.26
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 182,564.89
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 365,535.24
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 503,4723.91
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 264,389.54
Page 3 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Revised
Statement to Certificateholders
Distribution Date: May 15, 1997
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.40%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.01%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 130,124.84
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 130,124.84
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 51,483.86
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 51,483.86
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Revised
Statement to Certificateholders
Distribution Date: May 15, 1997
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 0.00
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 718.52
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 0.00
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 718.52
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 0.00
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 77,272.11
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 0.00
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 77,272.11
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 77,272.11
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 77,272.11
AMOUNT OF MONTHLY EXCESS SPREAD: 77,272.11
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
Distribution Date: May 15, 1997
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 33,878.97
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 10,000.00
Page 6 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 21,737,211.55 128,792.97 156,306.17
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 15,504,435.11 81,415.51 420,115.10
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 51,917,646.66 305,602.48 576,421.27
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 285,099.14 0.00 0.00 21,580,905.38
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 501,530.61 0.00 0.00 15,084,320.01
R 0.00 0.00 0.00 0.00
TOTALS 882,023.75 0.00 0.00 51,341,225.39
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 989.7646640 5.8643552 7.1171191
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 998.3620265 5.1899987 26.7810990
R 0.0000000 0.0000000 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 12.9814744 982.6475449
A-2 6.5000000 1,000.0000000
A-3 31.9710977 961.5809275
R 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.907500% 5.907500%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: May 30, 1997
DISTRIBUTION DATE: June 16, 1997
ADMINISTRATOR: Whitney Iger
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: June 16, 1997
ACCRUED SERVICING FEE COLLECTED: 22,042.93
PERMITTED REDUCTIONS TO SERVICING FEES: (1,524.65)
TOTAL SERVICING FEES DUE MASTER SERVICER: 20,518.28
AMOUNT OF MONTHLY ADVANCES: 24,494.07
AMOUNT OF COMPENSATING INTEREST: 21,053.69
AMOUNT DUE THE CERTIFICATE INSURER: 6,186.26
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 77,087.55 0.00 0.00
% OF ENDING POOL BALANCE 0.2126% 0.0000% 0.0000%
NUMBER OF LOANS 2 0 0
% OF LOANS REMAINING 0.3017% 0.0000% 0.0000%
GROUP 2 PRINCIPAL BALANCE 184,939.88 0.00 0.00
% OF ENDING POOL BALANCE 1.2260% 0.0000% 0.0000%
NUMBER OF LOANS 3 0 0
% OF LOANS REMAINING 1.2097% 0.0000% 0.0000%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 36,413,375.94
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 36,257,069.77
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,504,492.51
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,084,377.41
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 51,917,868.45
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 51,341,447.18
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 666
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 663
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 253
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 248
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 919
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 911
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 208
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 289
Page 2 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: June 16, 1997
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 474,696.59
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 8
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 25,013.52
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 76,711.16
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 58,480.88
CURTAILMENTS 18,103.64
PREPAYMENTS 79,721.65
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 156,306.17
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 18,230.28
CURTAILMENTS 6,909.88
PREPAYMENTS 394,974.94
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 420,115.10
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 395,869.17
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 423,724.34
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 528,704.16
Page 3 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: June 16, 1997
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.40%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 8.98%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 128,792.97
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 128,792.97
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 81,415.51
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 81,415.51
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: June 16, 1997
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 718.52
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 718.52
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 0.00
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 718.52
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 0.00
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 77,272.11
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 64,218.49
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 104.18
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 64,322.67
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 141,594.78
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 64,218.49
AMOUNT OF MONTHLY EXCESS SPREAD: 64,218.49
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: June 16, 1997
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 21,580,905.38 127,866.86 460,635.27
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 15,084,320.01 71,783.55 245,182.15
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 51,341,225.39 295,044.41 705,817.42
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 588,502.13 0.00 0.00 21,120,270.11
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 316,965.70 0.00 0.00 14,839,137.86
R 0.00 0.00 0.00 0.00
TOTALS 1,000,861.83 0.00 0.00 50,635,407.97
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 982.6475449 5.8221865 20.9741950
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 961.5809275 4.5759897 15.6296392
R 0.0000000 0.0000000 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 26.7963815 961.6733499
A-2 6.5000000 1,000.0000000
A-3 20.2056289 945.9512883
R 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.907500% 5.907500%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: June 30, 1997
DISTRIBUTION DATE: July 15, 1997
ADMINISTRATOR: Whitney Iger
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: July 15, 1997
ACCRUED SERVICING FEE COLLECTED: 22,225.20
PERMITTED REDUCTIONS TO SERVICING FEES: (2,014.59)
TOTAL SERVICING FEES DUE MASTER SERVICER: 20,210.61
AMOUNT OF MONTHLY ADVANCES: 27,530.13
AMOUNT OF COMPENSATING INTEREST: 2,687.67
AMOUNT DUE THE CERTIFICATE INSURER: 6,115.51
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 112,601.84 0.00 0.00
% OF ENDING POOL BALANCE 0.3146% 0.0000% 0.0000%
NUMBER OF LOANS 3 0 0
% OF LOANS REMAINING 0.4573% 0.0000% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 84,463.10 0.00
% OF ENDING POOL BALANCE 0.0000% 0.5692% 0.0000%
NUMBER OF LOANS 0 1 0
% OF LOANS REMAINING 0.0000% 0.4115% 0.0000%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 36,257,069.77
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 35,796,434.50
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,084,377.41
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 14,839,195.26
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 51,341,447.18
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 50,635,629.76
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 663
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 656
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 248
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 243
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 911
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 899
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 207
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 289
Page 2 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: July 15, 1997
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 607,534.94
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 12
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 31,372.15
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 66,910.33
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 51,338.14
CURTAILMENTS 22,545.85
PREPAYMENTS 386,751.28
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 460,635.27
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 15,572.19
CURTAILMENTS 8,826.30
PREPAYMENTS 220,783.66
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 245,182.15
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 404,074.66
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 735,965.17
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 354,392.77
Page 3 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: July 15, 1997
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.40%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.00%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 127,866.86
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 127,866.86
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 71,783.55
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 71,783.55
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: July 15, 1997
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 0.00
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 3,032.67
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 0.00
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 3,032.67
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 141,594.78
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 83,380.60
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 396.49
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 83,777.09
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 225,371.87
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 83,380.60
AMOUNT OF MONTHLY EXCESS SPREAD: 83,380.60
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: July 15, 1997
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 21,120,270.11 125,137.60 537,337.99
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 14,839,137.86 75,486.90 273,743.86
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 50,635,407.97 296,018.50 811,081.85
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 662,475.59 0.00 0.00 20,582,932.12
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 349,230.76 0.00 0.00 14,565,394.00
R 0.00 0.00 0.00 0.00
TOTALS 1,107,100.35 0.00 0.00 49,824,326.12
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 961.6733499 5.6976146 24.4667148
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 945.9512883 4.8120673 17.4503640
R 0.0000000 0.0000000 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 30.1646294 937.2066351
A-2 6.5000000 1,000.0000000
A-3 22.2624313 928.5009243
R 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.907500% 5.907500%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: July 31, 1997
DISTRIBUTION DATE: August 15, 1997
ADMINISTRATOR: Whitney Iger
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: August 15, 1997
ACCRUED SERVICING FEE COLLECTED: 21,130.95
PERMITTED REDUCTIONS TO SERVICING FEES: (2,425.79)
TOTAL SERVICING FEES DUE MASTER SERVICER: 18,705.16
AMOUNT OF MONTHLY ADVANCES: 29,780.59
AMOUNT OF COMPENSATING INTEREST: 2,425.79
AMOUNT DUE THE CERTIFICATE INSURER: 6,031.12
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 112,424.96 56,306.50 0.00
% OF ENDING POOL BALANCE 0.3189% 0.1597% 0.0000%
NUMBER OF LOANS 2 1 0
% OF LOANS REMAINING 0.3106% 0.1553% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0
% OF LOANS REMAINING 0.0000% 0.0000% 0.0000%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 35,796,434.50
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 35,259,096.51
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 14,839,195.26
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 14,565,451.40
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 50,635,629.76
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 49,824,547.91
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 656
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 644
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 243
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 239
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 899
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 883
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 206
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 287
Page 2 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: August 15, 1997
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 715,892.30
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 16
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 20,624.15
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 74,565.40
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 56,755.22
CURTAILMENTS 15,515.43
PREPAYMENTS 465,067.34
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 537,337.99
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 17,810.18
CURTAILMENTS 5,108.72
PREPAYMENTS 250,824.96
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 273,743.86
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 388,969.41
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 801,843.02
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 377,529.68
Page 3 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: August 15, 1997
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.40%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.01%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 127,137.60
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 125,137.60
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 75,486.90
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 75,486.90
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: August 15, 1997
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 3,032.67
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 4,223.86
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 0.00
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 7,256.53
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 225,371.87
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 66,241.23
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 744.63
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 66,985.86
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 292,357.73
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 66,241.23
AMOUNT OF MONTHLY EXCESS SPREAD: 66,241.23
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: August 15, 1997
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 20,582,932.12 121,953.87 578,295.78
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 14,565,394.00 74,094.36 238,128.77
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 49,824,326.12 291,442.23 816,424.55
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 700,249.65 0.00 0.00 20,004,636.34
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 312,223.13 0.00 0.00 14,327,265.23
R 0.00 0.00 0.00 0.00
TOTALS 1,107,866.78 0.00 0.00 49,007,901.57
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 937.2066351 5.5529492 26.3316538
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 928.5009243 4.7232970 15.1800070
R 0.0000000 0.0000000 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 31.8846030 910.8749813
A-2 6.5000000 1,000.0000000
A-3 19.9033040 913.3209173
R 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.907500% 5.907500%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: August 29, 1997
DISTRIBUTION DATE: September 15, 1997
ADMINISTRATOR: Whitney Iger
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: September 15, 1997
ACCRUED SERVICING FEE COLLECTED: 19,787.69
PERMITTED REDUCTIONS TO SERVICING FEES: (708.21)
TOTAL SERVICING FEES DUE MASTER SERVICER: 19,079.48
AMOUNT OF MONTHLY ADVANCES: 48,235.54
AMOUNT OF COMPENSATING INTEREST: 9,333.77
AMOUNT DUE THE CERTIFICATE INSURER: 5,934.22
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 174,922.40 47,465.48 56,306.50
% OF ENDING POOL BALANCE 0.5044% 0.1369% 0.1624%
NUMBER OF LOANS 2 1 1
% OF LOANS REMAINING 0.3155% 0.1577% 0.1577%
GROUP 2 PRINCIPAL BALANCE 211,474.72 0.00 0.00
% OF ENDING POOL BALANCE 1.4760% 0.0000% 0.0000%
NUMBER OF LOANS 4 0 0
% OF LOANS REMAINING 1.7021% 0.0000% 0.0000%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 56,306.50 0.00
% OF ENDING POOL BALANCE 0.1624% 0.0000%
NUMBER OF LOANS 1 0
% OF LOANS REMAINING 0.1577% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 35,259,096.51
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 34,680,800.73
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 14,565,451.40
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 14,327,322.63
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 49,824,547.91
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 49,008,123.36
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 644
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 634
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 239
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 235
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 883
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 869
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 206
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 286
Page 2 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: September 15, 1997
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 740,405.01
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 14
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 16,694.61
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 59,324.93
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 45,210.95
CURTAILMENTS 12,284.57
PREPAYMENTS 520,800.26
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 578,295.78
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 14,113.98
CURTAILMENTS 4,410.04
PREPAYMENTS 219,604.75
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 238,128.77
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 358,484.30
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 846,123.44
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 344,042.97
Page 3 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: October 15, 1997
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.40%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.01%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 121,953.87
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 121,953.87
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 74,094.36
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 74,094.36
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: September 15, 1997
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 7,256.53
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 7,256.53
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 0.00
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 7,256.53
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 0.00
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 292,357.73
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 76,365.41
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 1,227.71
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 77,593.12
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 369,950.85
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 76,365.41
AMOUNT OF MONTHLY EXCESS SPREAD: 76,365.41
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: September 15, 1997
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 20,004,636.34 118,527.47 551,016.07
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 14,327,265.23 70,531.93 400,640.78
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 49,007,901.57 284,453.40 951,656.85
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 669,543.54 0.00 0.00 19,453,620.27
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 471,172.71 0.00 0.00 13,926,624.45
R 0.00 0.00 0.00 0.00
TOTALS 1,236,110.25 0.00 0.00 48,056,244.72
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 910.8749813 5.3969343 25.0895214
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 913.3209173 4.4962026 25.5396685
R 0.0000000 0.0000000 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 30.4864557 885.7854599
A-2 6.5000000 1,000.0000000
A-3 30.0358711 887.7812488
R 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.907500% 5.907500%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: September 30, 1997
DISTRIBUTION DATE: October 15, 1997
ADMINISTRATOR: Jake D. Steen
Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: October 15, 1997
ACCRUED SERVICING FEE COLLECTED: 21,651.04
PERMITTED REDUCTIONS TO SERVICING FEES: 0.00
TOTAL SERVICING FEES DUE MASTER SERVICER: 21,651.04
AMOUNT OF MONTHLY ADVANCES: 35,089.85
AMOUNT OF COMPENSATING INTEREST: 1,343.93
AMOUNT DUE THE CERTIFICATE INSURER: 5,836.98
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 41,328.45 142,532.19 103,771.98
% OF ENDING POOL BALANCE 0.1211% 0.4176% 0.3041%
NUMBER OF LOANS 1 1 2
% OF LOANS REMAINING 0.1605% 0.1605% 0.3210%
GROUP 2 PRINCIPAL BALANCE 84,463.10 147,038.33 0.00
% OF ENDING POOL BALANCE 0.6065% 1.0558% 0.0000%
NUMBER OF LOANS 1 3 0
% OF LOANS REMAINING 0.4367% 1.3100% 0.0000%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 103,771.98 0.00
% OF ENDING POOL BALANCE 0.3041% 0.0000%
NUMBER OF LOANS 2 0
% OF LOANS REMAINING 0.3210% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 34,680,800.73
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 34,129,784.66
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 14,327,322.63
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 13,926,681.85
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 49,008,123.36
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 48,056,466.51
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 634
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 623
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 235
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 229
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 869
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 852
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 205
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 284
Page 2 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: October 15, 1997
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 868,395.73
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 17
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 20,490.28
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 62,770.84
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 47,820.79
CURTAILMENTS 14,987.22
PREPAYMENTS 488,208.06
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 551,016.07
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 14,950.05
CURTAILMENTS 5,503.06
PREPAYMENTS 380,187.67
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 400,640.78
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 399,731.30
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 812,436.35
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 503,976.05
Page 3 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: October 15, 1997
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.40%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.01%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 118,527.47
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 118,527.47
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 70,531.93
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 70,531.93
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: October 15, 1997
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 0.00
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 1,522.95
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 0.00
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 1,522.95
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 369,950.85
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 74,465.17
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 1,438.16
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 75,903.33
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 445,854.18
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 74,465.17
AMOUNT OF MONTHLY EXCESS SPREAD: 74,465.17
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: October 15, 1997
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 19,453,620.27 115,262.70 529,729.52
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 13,926,624.45 74,617.69 474,005.91
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 48,056,244.72 285,274.39 1,003,735.43
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 644,992.22 0.00 0.00 18,923,890.75
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 548,623.60 0.00 0.00 13,452,618.54
R 0.00 0.00 0.00 0.00
TOTALS 1,289,009.82 0.00 0.00 47,052,509.29
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 885.7854599 5.2482788 24.1202768
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 887.7812488 4.7566577 30.2164793
R 0.0000000 0.0000000 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 29.3685557 861.6651830
A-2 6.5000000 1,000.0000000
A-3 34.9731370 857.5647696
R 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.845000% 5.907500%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: October 31, 1997
DISTRIBUTION DATE: November 17, 1997
ADMINISTRATOR: Jake D. Steen
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: November 17, 1997
ACCRUED SERVICING FEE COLLECTED: 20,310.44
PERMITTED REDUCTIONS TO SERVICING FEES: (5,940.10)
TOTAL SERVICING FEES DUE MASTER SERVICER: 14,370.34
AMOUNT OF MONTHLY ADVANCES: 27,368.92
AMOUNT OF COMPENSATING INTEREST: 5,940.10
AMOUNT DUE THE CERTIFICATE INSURER: 5,722.62
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 240,541.57 0.00 103,771.98
% OF ENDING POOL BALANCE 0.7159% 0.0000% 0.3088%
NUMBER OF LOANS 4 0 2
% OF LOANS REMAINING 0.6536% 0.0000% 0.3268%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00 30,905.48
% OF ENDING POOL BALANCE 0.0000% 0.0000% 0.2297%
NUMBER OF LOANS 0 0 1
% OF LOANS REMAINING 0.0000% 0.0000% 0.4505%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 103,771.98 0.00
% OF ENDING POOL BALANCE 0.3088% 0.0000%
NUMBER OF LOANS 2 0
% OF LOANS REMAINING 0.3268% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 34,680,800.73
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 33,600,055.14
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 13,926,681.85
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 13,452,675.94
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 48,056,466.51
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 47,052,731.08
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 623
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 612
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 229
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 222
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 852
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 834
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 204
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 282
Page 2 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: November 17, 1997
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 913,254.73
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 18
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 17,462.42
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 73,018.28
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 55,865.73
CURTAILMENTS 10,304.05
PREPAYMENTS 463,559.74
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 529,729.52
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 17,152.55
CURTAILMENTS 7,158.37
PREPAYMENTS 449,694.99
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 474,005.91
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 386,198.21
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 781,980.57
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 574,795.97
Page 3 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: November 17, 1997
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.40%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.02%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 115,262.70
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 115,262.70
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 74,617.69
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 74,617.69
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: November 17, 1997
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 1,522.95
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 17,285.37
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 0.00
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 18,808.32
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 445,854.18
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 62,044.10
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 2,021.80
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 64,065.90
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 509,920.08
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 62,044.10
AMOUNT OF MONTHLY EXCESS SPREAD: 62,044.10
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: November 17, 1997
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 18,923,890.75 112,124.05 757,319.32
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 13,452,618.54 61,811.04 299,015.95
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 47,052,509.29 269,329.09 1,056,335.27
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 869,443.37 0.00 0.00 18,166,571.43
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 360,826.99 0.00 0.00 13,153,602.59
R 0.00 0.00 0.00 0.00
TOTALS 1,325,664.36 0.00 0.00 45,996,174.02
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 885.7854599 5.1053661 34.4831673
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 857.5647696 3.9402716 19.0613852
R 0.0000000 0.0000000 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 39.5885334 827.1820158
A-2 6.5000000 1,000.0000000
A-3 23.0016568 838.5033843
R 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.907500% 6.200500%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: November 28, 1997
DISTRIBUTION DATE: December 15, 1997
ADMINISTRATOR: Jake D. Steen
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: December 15, 1997
ACCRUED SERVICING FEE COLLECTED: 18,675.85
PERMITTED REDUCTIONS TO SERVICING FEES: (2,975.26)
TOTAL SERVICING FEES DUE MASTER SERVICER: 15,700.59
AMOUNT OF MONTHLY ADVANCES: 44,475.38
AMOUNT OF COMPENSATING INTEREST: 3,534.23
AMOUNT DUE THE CERTIFICATE INSURER: 5,601.56
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 14,419.28 0.00 103,771.98
% OF ENDING POOL BALANCE 0.0439% 0.0000% 0.3160%
NUMBER OF LOANS 1 0 2
% OF LOANS REMAINING 0.1669% 0.0000% 0.3339%
GROUP 2 PRINCIPAL BALANCE 64,310.69 0.00 30,905.48
% OF ENDING POOL BALANCE 0.4889% 0.0000% 0.2350%
NUMBER OF LOANS 1 0 1
% OF LOANS REMAINING 0.4608% 0.0000% 0.4608%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 103,771.98 0.00
% OF ENDING POOL BALANCE 0.3160% 0.0000%
NUMBER OF LOANS 2 0
% OF LOANS REMAINING 0.3339% 0.0000%
GROUP 2 PRINCIPAL BALANCE 30,905.48 0.00
% OF ENDING POOL BALANCE 0.0941% 0.0000%
NUMBER OF LOANS 1 0
% OF LOANS REMAINING 0.1669% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 33,600,055.14
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 32,842,735.82
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 13,452,675.94
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 13,153,659.99
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 47,052,731.08
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 45,996,395.81
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 612
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 599
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 222
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 217
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 834
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 816
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 203
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 281
Page 2 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: December 15, 1997
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 975,544.25
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 18
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 19,720.77
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 61,070.25
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 46,865.51
CURTAILMENTS 13,324.54
PREPAYMENTS 697,129.27
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 757,319.32
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 14,204.74
CURTAILMENTS 6,369.23
PREPAYMENTS 278,414.98
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 299,015.95
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 336,224.38
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,014,425.49
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 398,053.19
Page 3 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: December 15, 1997
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.40%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.07%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 112,124.05
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 112,124.05
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 61,811.04
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 61,811.04
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: December 15, 1997
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 11,147.13
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 18,808.32
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 0.00
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 11,147.13
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 7,661.19
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 509,920.08
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 81,212.76
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 1,995.26
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 83,208.02
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 593,128.10
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 81,212.76
AMOUNT OF MONTHLY EXCESS SPREAD: 81,212.76
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: December 15, 1997
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1997 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 18,166,571.43 107,636.93 1,191,046.78
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 13,153,602.59 70,231.28 937,531.73
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 45,996,174.02 273,262.21 2,128,578.51
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 1,298,683.71 0.00 0.00 16,975,524.65
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 1,007,763.01 0.00 0.00 12,216,070.86
R 0.00 0.00 0.00 0.00
TOTALS 2,401,840.72 0.00 0.00 43,867,595.51
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 827.1820158 4.9010532 54.2321637
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 838.5033843 4.4770370 59.7648837
R 0.0000000 0.0000000 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 59.1332169 772.9498520
A-2 6.5000000 1,000.0000000
A-3 64.2419207 778.7385007
R 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 6.200500% 5.813750%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: December 31, 1997
DISTRIBUTION DATE: January 15, 1998
ADMINISTRATOR: Jake D. Steen
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: January 15, 1998
ACCRUED SERVICING FEE COLLECTED: 19,996.72
PERMITTED REDUCTIONS TO SERVICING FEES: 0.00
TOTAL SERVICING FEES DUE MASTER SERVICER: 19,996.72
AMOUNT OF MONTHLY ADVANCES: 32,505.35
AMOUNT OF COMPENSATING INTEREST: 0.00
AMOUNT DUE THE CERTIFICATE INSURER: 5,475.83
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 164,668.24 14,419.28 103,771.98
% OF ENDING POOL BALANCE 0.5203% 0.0456% 0.3279%
NUMBER OF LOANS 4 1 2
% OF LOANS REMAINING 0.6920% 0.1730% 0.3460%
GROUP 2 PRINCIPAL BALANCE 34,398.98 0.00 30,905.48
% OF ENDING POOL BALANCE 0.2816% 0.0000% 0.2530%
NUMBER OF LOANS 1 0 1
% OF LOANS REMAINING 0.4926% 0.0000% 0.4926%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 103,771.98 0.00
% OF ENDING POOL BALANCE 0.3279% 0.0000%
NUMBER OF LOANS 2 0
% OF LOANS REMAINING 0.3460% 0.0000%
GROUP 2 PRINCIPAL BALANCE 30,905.48 0.00
% OF ENDING POOL BALANCE 0.0976% 0.0000%
NUMBER OF LOANS 1 0
% OF LOANS REMAINING 0.1730% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 32,842,735.82
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 31,651,689.04
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 13,153,659.99
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 12,216,128.26
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 45,996,395.81
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 43,867,817.30
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 599
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 578
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 217
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 203
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 816
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 781
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 201
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 278
Page 2 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: January 15, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 2,040,332.59
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 35
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 19,304.19
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 68,941.73
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 54,140.34
CURTAILMENTS 13,204.02
PREPAYMENTS 1,123,702.42
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 1,191,046.78
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 14,801.39
CURTAILMENTS 6,100.17
PREPAYMENTS 916,630.17
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 937,531.73
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 371,876.92
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,430,848.90
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,033,115.70
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: January 15, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.40%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.36%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 107,636.93
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 107,636.93
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 70,231.28
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 70,231.28
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: January 15, 1998
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 7,661.19
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 12,832.22
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 0.00
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 20,493.41
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 593,128.10
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 56,648.05
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 2,598.99
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 59,247.04
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 652,375.14
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 56,648.05
AMOUNT OF MONTHLY EXCESS SPREAD: 56,648.05
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: January 15, 1998
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 16,975,524.65 100,579.98 747,540.78
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 12,216,070.86 65,102.75 480,537.12
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 43,867,595.51 261,076.73 1,228,077.90
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 848,120.76 0.00 0.00 16,227,983.87
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 545,639.87 0.00 0.00 11,735,533.74
R 0.00 0.00 0.00 0.00
TOTALS 1,489,154.63 0.00 0.00 42,639,517.61
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 772.9498520 4.5797277 34.0379191
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 778.7385007 4.1501084 30.6328246
R 0.0000000 0.0000000 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 38.6176468 738.9119329
A-2 6.5000000 1,000.0000000
A-3 34.7829330 748.1056760
R 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.813750% 5.845000%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: January 30, 1997
DISTRIBUTION DATE: February 17, 1998
ADMINISTRATOR: Jake D. Steen
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: February 17, 1998
ACCRUED SERVICING FEE COLLECTED: 18,698.34
PERMITTED REDUCTIONS TO SERVICING FEES: (2,727.09)
TOTAL SERVICING FEES DUE MASTER SERVICER: 15,971.25
AMOUNT OF MONTHLY ADVANCES: 33,916.51
AMOUNT OF COMPENSATING INTEREST: 2,727.09
AMOUNT DUE THE CERTIFICATE INSURER: 5,219.69
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 54,367.36 0.00 103,771.98
% OF ENDING POOL BALANCE 0.1759% 0.0000% 0.3358%
NUMBER OF LOANS 2 0 2
% OF LOANS REMAINING 0.3546% 0.0000% 0.3546%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00 30,905.48
% OF ENDING POOL BALANCE 0.0000% 0.0000% 0.2633%
NUMBER OF LOANS 0 0 1
% OF LOANS REMAINING 0.0000% 0.0000% 0.5128%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 103,771.98 0.00
% OF ENDING POOL BALANCE 0.3358% 0.0000%
NUMBER OF LOANS 2 0
% OF LOANS REMAINING 0.3546% 0.0000%
GROUP 2 PRINCIPAL BALANCE 30,905.48 0.00
% OF ENDING POOL BALANCE 0.1000% 0.0000%
NUMBER OF LOANS 1 0
% OF LOANS REMAINING 0.1773% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 31,651,689.04
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 30,904,148.26
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 12,216,128.26
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 11,735,591.14
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 43,867,817.30
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 42,639,739.40
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 578
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 564
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 203
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 195
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 781
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 759
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 200
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 276
Page 2 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: February 17, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 1,151,416.31
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 22
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 22,629.92
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 54,031.67
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 43,482.69
CURTAILMENTS 19,374.96
PREPAYMENTS 684,683.13
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 747,540.78
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 10,548.98
CURTAILMENTS 3,254.96
PREPAYMENTS 466,733.18
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 480,537.12
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 355,183.99
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 987,198.14
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 579,084.48
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: February 17, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.39%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.81%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 100,579.98
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 100,579.98
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 65,102.75
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 65,102.75
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: February 17, 1998
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 1,516.42
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 20,493.41
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 12,504.21
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 1,516.42
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 31,481.20
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 652,375.14
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 71,908.30
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 3,026.65
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 74,934.95
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 727,310.09
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 71,908.30
AMOUNT OF MONTHLY EXCESS SPREAD: 71,908.30
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: February 17, 1998
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 16,227,983.87 96,150.80 889,242.64
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 11,735,533.74 51,445.64 1,404,386.83
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 42,639,517.61 242,990.44 2,293,629.47
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 985,393.44 0.00 0.00 15,338,741.23
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 1,455,832.47 0.00 0.00 10,331,146.91
R 0.00 0.00 0.00 0.00
TOTALS 2,536,619.91 0.00 0.00 40,345,888.14
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 738.9119329 4.3780530 40.4900574
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 748.1056760 3.2795079 89.5255199
R 0.0000000 0.0000000 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 44.8681104 698.4218755
A-2 6.5000000 1,000.0000000
A-3 92.8050277 658.5801562
R 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.845000% 5.907500%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: February 27, 1997
DISTRIBUTION DATE: March 16, 1998
ADMINISTRATOR: Jake D. Steen
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: March 16, 1998
ACCRUED SERVICING FEE COLLECTED: 16,611.25
PERMITTED REDUCTIONS TO SERVICING FEES: (7,060.66)
TOTAL SERVICING FEES DUE MASTER SERVICER: 9,550.59
AMOUNT OF MONTHLY ADVANCES: 49,218.07
AMOUNT OF COMPENSATING INTEREST: 7,060.66
AMOUNT DUE THE CERTIFICATE INSURER: 5,072.41
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 41,893.20 13,162.06 103,771.98
% OF ENDING POOL BALANCE 0.1396% 0.0439% 0.3457%
NUMBER OF LOANS 1 1 2
% OF LOANS REMAINING 0.1832% 0.1832% 0.3663%
GROUP 2 PRINCIPAL BALANCE 40,274.19 0.00 30,905.48
% OF ENDING POOL BALANCE 0.3898% 0.0000% 0.2991%
NUMBER OF LOANS 2 0 1
% OF LOANS REMAINING 1.1429% 0.0000% 0.5714%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 103,771.98 0.00
% OF ENDING POOL BALANCE 0.3457% 0.0000%
NUMBER OF LOANS 2 0
% OF LOANS REMAINING 0.3663% 0.0000%
GROUP 2 PRINCIPAL BALANCE 30,905.48 0.00
% OF ENDING POOL BALANCE 0.1030% 0.0000%
NUMBER OF LOANS 1 0
% OF LOANS REMAINING 0.1832% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 30,904,148.26
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 30,014,905.62
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 11,735,591.14
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 10,331,204.31
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 42,639,739.40
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 40,346,109.93
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 564
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 546
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 195
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 175
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 759
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 721
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 199
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 276
Page 2 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: March 16, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 2,222,833.86
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 38
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 16,057.25
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 54,738.36
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 44,935.78
CURTAILMENTS 12,186.86
PREPAYMENTS 832,120.00
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 889,242.64
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 9,802.58
CURTAILMENTS 3,870.39
PREPAYMENTS 1,390,713.86
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 1,404,386.83
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 320,727.01
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,127,450.57
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,504,138.54
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: March 16, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.39%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 10.15%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 96,150.80
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 96,150.80
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 51,445.64
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 51,445.64
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: March 16, 1998
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 568.94
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 31,481.20
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 589.00
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 568.94
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 31,501.26
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 727,310.09
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 89,896.79
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 2,858.30
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 92,755.09
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 820,065.18
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 89,896.79
AMOUNT OF MONTHLY EXCESS SPREAD: 89,896.79
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: March 16, 1998
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 15,338,741.23 90,882.04 1,238,419.57
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 10,331,146.91 50,859.37 829,840.91
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 40,345,888.14 288,203.44 2,068,260.48
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 1,329,301.61 0.00 0.00 14,100,321.66
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 880,700.28 0.00 0.00 9,501,306.00
R 0.00 0.00 0.00 0.00
TOTALS 2,356,463.92 0.00 0.00 38,277,627.66
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 698.4218755 4.1381495 56.3891982
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 658.5801562 3.2421349 52.8999114
R 0.0000000 0.9759777 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 60.5273477 642.0326774
A-2 6.5000000 1,000.0000000
A-3 56.1420463 605.6802448
R 0.9759777 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.907500% 5.876250%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: March 31, 1997
DISTRIBUTION DATE: April 15, 1998
ADMINISTRATOR: Jake D. Steen
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: April 15, 1998
ACCRUED SERVICING FEE COLLECTED: 16,987.19
PERMITTED REDUCTIONS TO SERVICING FEES: (8,253.59)
TOTAL SERVICING FEES DUE MASTER SERVICER: 8,733.60
AMOUNT OF MONTHLY ADVANCES: 27,622.85
AMOUNT OF COMPENSATING INTEREST: 8,253.59
AMOUNT DUE THE CERTIFICATE INSURER: 4,793.11
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 104,307.07 0.00 116,934.04
% OF ENDING POOL BALANCE 0.3625% 0.0000% 0.4064%
NUMBER OF LOANS 2 0 3
% OF LOANS REMAINING 0.3802% 0.0000% 0.5703%
GROUP 2 PRINCIPAL BALANCE 25,000.98 21,855.13 0.00
% OF ENDING POOL BALANCE 0.2631% 0.2300% 0.0000%
NUMBER OF LOANS 1 1 0
% OF LOANS REMAINING 0.6250% 0.6250% 0.0000%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 103,771.98 0.00
% OF ENDING POOL BALANCE 0.3606% 0.0000%
NUMBER OF LOANS 2 0
% OF LOANS REMAINING 0.3802% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 30,014,905.62
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 28,776,486.05
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 10,331,204.31
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 9,501,363.40
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 40,346,109.93
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 38,277,849.45
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 546
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 526
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 175
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 160
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 721
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 686
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 198
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 274
Page 2 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: April 15, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 1,935,211.59
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 35
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 22,898.35
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 79,245.06
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 65,990.34
CURTAILMENTS 14,330.02
PREPAYMENTS 1,158,099.21
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 1,238,419.57
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 13,254.72
CURTAILMENTS 8,568.33
PREPAYMENTS 777,112.38
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 25,696.63
UNRECOVERED CLASS A-3 PORTION 5,208.85
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 829,840.91
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 336,421.07
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,495,886.97
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 911,313.80
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: April 15, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.38%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 10.63%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 90,882.04
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 90,882.04
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 50,859.37
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 50,859.37
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: April 15, 1998
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 31,501.26
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 25,241.00
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 0.00
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 (51,068.03)
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 5,674.22
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 820,065.18
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 45,943.73
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 3,444.23
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 49,387.96
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 869,453.14
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 45,943.73
AMOUNT OF MONTHLY EXCESS SPREAD: 45,943.73
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: April 15, 1998
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 14,100,321.66 83,544.40 1,284,423.39
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 9,501,306.00 46,526.70 1,016,390.93
R 0.00 0.00 0.00 0.00
TOTALS 52,325,000.00 38,277,627.66 237,846.10 2,300,814.32
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 1,367,967.79 0.00 0.00 12,815,898.27
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 1,062,917.63 0.00 0.00 8,484,915.07
R 12,381.00 0.00 0.00 0.00
TOTALS 2,538,660.42 0.00 0.00 35,976,813.34
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 642.0326774 3.8040433 58.4838990
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 605.6802448 2.9659400 64.7919252
R 0.0000000 0.2366172 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 62.2879424 583.5487783
A-2 6.5000000 1,000.0000000
A-3 67.7578651 540.8883196
R 0.2366172 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.876250% 5.876250%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: April 30, 1997
DISTRIBUTION DATE: May 15, 1998
ADMINISTRATOR: Jake D. Steen
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: May 15, 1998
ACCRUED SERVICING FEE COLLECTED: 15,234.90
PERMITTED REDUCTIONS TO SERVICING FEES: (4,424.43)
TOTAL SERVICING FEES DUE MASTER SERVICER: 10,810.47
AMOUNT OF MONTHLY ADVANCES: 38,002.95
AMOUNT OF COMPENSATING INTEREST: 4,424.43
AMOUNT DUE THE CERTIFICATE INSURER: 4,544.90
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 108,796.96 63,125.96 103,771.98
% OF ENDING POOL BALANCE 0.3957% 0.2296% 0.3775%
NUMBER OF LOANS 2 1 2
% OF LOANS REMAINING 0.3992% 0.1996% 0.3992%
GROUP 2 PRINCIPAL BALANCE 74,767.68 0.00 21,855.13
% OF ENDING POOL BALANCE 0.8812% 0.0000% 0.2576%
NUMBER OF LOANS 1 0 1
% OF LOANS REMAINING 0.6944% 0.0000% 0.6944%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 103,771.98 0.00
% OF ENDING POOL BALANCE 0.3775% 0.0000%
NUMBER OF LOANS 2 0
% OF LOANS REMAINING 0.3992% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 28,776,486.05
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 27,492,062.66
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 9,501,363.40
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 8,484,972.47
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 38,277,849.45
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 35,977,035.13
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 526
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 501
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 160
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 144
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 686
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 645
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 197
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 276
Page 2 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: May 15, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 2,231,005.49
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 41
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 19,203.78
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 50,605.05
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 43,929.22
CURTAILMENTS 14,706.75
PREPAYMENTS 1,225,787.42
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 1,284,423.39
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 6,675.83
CURTAILMENTS 4,497.03
PREPAYMENTS 1,005,218.07
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 1,016,390.93
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 301,623.74
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,504,200.77
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,102,389.19
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: May 15, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.38%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 10.84%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 83,544.40
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 83,544.40
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 46,526.70
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 46,526.70
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: May 15, 1998
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 5,674.22
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 8,059.33
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 0.00
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 13,733.55
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 12,381.00
SPREAD ACCOUNT BEGINNING BALANCE: 869,453.14
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 75,765.64
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 3,752.16
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 79,517.80
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 12,381.00
SPREAD ACCOUNT ENDING BALANCE: 936,589.94
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 75,765.64
AMOUNT OF MONTHLY EXCESS SPREAD: 75,765.64
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 5,208.85
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
Page 5 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: May 15, 1998
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 12,815,898.27 75,934.19 963,471.43
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 8,484,915.07 42,934.55 342,826.95
R 0.00 0.00 66,173.63 0.00
TOTALS 52,325,000.00 35,976,813.34 280,436.37 1,306,298.38
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 1,039,405.62 0.00 0.00 11,852,426.84
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 385,761.50 0.00 0.00 8,142,088.12
R 66,173.63 0.00 0.00 0.00
TOTALS 1,586,734.75 0.00 0.00 34,670,514.96
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 583.5487783 3.4575262 43.8699312
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 540.8883196 2.7369510 21.8542073
R 0.0000000 1.2646657 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 47.3274574 539.6788471
A-2 6.5000000 1,000.0000000
A-3 24.5911583 519.0341123
R 1.2646657 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.876250% 5.876250%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: May 29, 1997
DISTRIBUTION DATE: June 15, 1998
ADMINISTRATOR: Jake D. Steen
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: June 15, 1998
ACCRUED SERVICING FEE COLLECTED: 14,448.66
PERMITTED REDUCTIONS TO SERVICING FEES: (7,040.86)
TOTAL SERVICING FEES DUE MASTER SERVICER: 7,407.80
AMOUNT OF MONTHLY ADVANCES: 43,835.17
AMOUNT OF COMPENSATING INTEREST: 7,040.86
AMOUNT DUE THE CERTIFICATE INSURER: 4,268.00
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 194,507.39 56,360.52 103,771.98
% OF ENDING POOL BALANCE 0.7332% 0.2125% 0.3912%
NUMBER OF LOANS 5 1 2
% OF LOANS REMAINING 1.0309% 0.2062% 0.4124%
GROUP 2 PRINCIPAL BALANCE 83,066.44 0.00 0.00
% OF ENDING POOL BALANCE 1.0202% 0.0000% 0.0000%
NUMBER OF LOANS 1 0 0
% OF LOANS REMAINING 0.7246% 0.0000% 0.0000%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 27,492,062.66
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 26,528,591.23
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 8,484,972.47
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 8,142,145.52
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 35,977,035.13
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 34,670,736.75
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 501
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 485
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 144
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 138
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 645
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 623
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 196
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 277
Page 2 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: June 15, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 1,245,958.68
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 22
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 9,046.37
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 51,293.33
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 43,679.42
CURTAILMENTS 5,542.49
PREPAYMENTS 914,249.52
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 963,471.43
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 7,613.91
CURTAILMENTS 3,503.88
PREPAYMENTS 331,709.16
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 342,826.95
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 273,939.66
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,170,602.81
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 416,275.73
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: June 15, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.37%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 10.88%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 75,934.19
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 75,934.19
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 42,934.55
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 42,934.55
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: June 15, 1998
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 4,803.23
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 13,733.55
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 7,191.04
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 4,803.23
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 20,369.56
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 66,173.63
SPREAD ACCOUNT BEGINNING BALANCE: 936,589.94
ADD'L NET SIMPLE INTEREST SHORTFALL WITHDRAWAL (4,248.20)
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 62,049.42
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 4,124.22
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 66,173.64
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 66,173.63
SPREAD ACCOUNT ENDING BALANCE: 932,341.74
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 62,049.42
AMOUNT OF MONTHLY EXCESS SPREAD: 62,049.42
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 5,208.85
Page 5 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: June 15, 1998
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 21,962,000.00 11,852,426.84 70,225.62 571,602.18
A-2 14,676,000.00 14,676,000.00 95,394.00 0.00
A-3 15,687,000.00 8,142,088.12 39,870.78 605,762.45
R 0.00 0.00 61,837.84 0.00
TOTALS 52,325,000.00 34,670,514.96 267,328.24 1,177,364.63
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 641,827.80 0.00 0.00 11,280,824.66
A-2 95,394.00 0.00 0.00 14,676,000.00
A-3 645,633.23 0.00 0.00 7,536,325.67
R 61,837.84 0.00 0.00 0.00
TOTALS 1,444,692.87 0.00 0.00 33,493,150.33
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
A-1 525180BC8 539.6788471 3.1975968 26.0268728
A-2 525180BD6 1,000.0000000 6.5000000 0.0000000
A-3 525180BE4 519.0341123 2.5416447 38.6155702
R 0.0000000 1.1818030 0.0000000
CURRENT
PRINCIPAL
CLASS TOTAL BALANCE
A-1 29.2244695 513.6519743
A-2 6.5000000 1,000.0000000
A-3 41.1572149 480.4185421
R 1.1818030 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.110000% 7.110000%
A-2 7.800000% 7.800000%
A-3 5.876250% 5.876250%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B.
SERVICER: Home Loan and Investment Bank, F.S.B
LEAD UNDERWRITER: Lehman ABS Corporation
RECORD DATE: June 30, 1997
DISTRIBUTION DATE: July 15, 1998
ADMINISTRATOR: Jake D. Steen
. Bankers Trust Company
3 Park Plaza
Irvine, CA 92614
FACTOR INFORMATION: (800)735-7777
Page 1 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: July 15, 1998
ACCRUED SERVICING FEE COLLECTED: 14,944.85
PERMITTED REDUCTIONS TO SERVICING FEES: 0.00
TOTAL SERVICING FEES DUE MASTER SERVICER: 14,944.85
AMOUNT OF MONTHLY ADVANCES: 36,898.18
AMOUNT OF COMPENSATING INTEREST: 0.00
AMOUNT DUE THE CERTIFICATE INSURER: 4,112.74
DELINQUENT LOAN
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS
GROUP 1 PRINCIPAL BALANCE 64,830.71 14,026.73 160,132.50
% OF ENDING POOL BALANCE 0.2498% 0.0540% 0.6169%
NUMBER OF LOANS 3 1 3
% OF LOANS REMAINING 0.6276% 0.2092% 0.6276%
GROUP 2 PRINCIPAL BALANCE 92,673.33 0.00 0.00
% OF ENDING POOL BALANCE 1.2297% 0.0000% 0.0000%
NUMBER OF LOANS 1 0 0
% OF LOANS REMAINING 0.7752% 0.0000% 0.0000%
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) FORECLOSURE REO
GROUP 1 PRINCIPAL BALANCE 47,465.48 0.00
% OF ENDING POOL BALANCE 0.1829% 0.0000%
NUMBER OF LOANS 1 0
% OF LOANS REMAINING 0.2092% 0.0000%
GROUP 2 PRINCIPAL BALANCE 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.0000%
NUMBER OF LOANS 0 0
% OF LOANS REMAINING 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN GROUP I: 36,638,164.39
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 26,528,591.23
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP I: 25,956,989.05
ORIGINAL PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 15,687,057.40
BEGINNING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 8,142,145.52
ENDING PRINCIPAL BALANCE
OF MORTGAGE LOAN GROUP II: 7,536,383.07
ORIGINAL PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 52,325,221.79
BEGINNING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 34,670,736.75
ENDING PRINCIPAL
BALANCE OF MORTGAGE LOAN POOL: 33,493,372.12
NUMBER OF LOANS IN GROUP
I AT THE BEGINNING OF THE RELATED DUE PERIOD: 485
NUMBER OF LOANS IN GROUP I
AT THE END OF THE RELATED DUE PERIOD: 478
NUMBER OF LOANS IN GROUP II
AT THE BEGINNING OF THE RELATED DUE PERIOD: 138
NUMBER OF LOANS IN GROUP II
AT THE END OF THE RELATED DUE PERIOD: 129
TOTAL NUMBER OF LOANS AT
THE BEGINNING OF THE RELATED DUE PERIOD: 623
TOTAL NUMBER OF LOANS AT
THE END OF THE RELATED DUE PERIOD: 607
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 196
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 275
Page 2 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: July 15, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT
TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 1,104,794.00
NUMBER OF LOANS SUBJECT TO PRINCIPAL
PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 16
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 22,991.73
PRINCIPAL PORTION OF
MONTHLY PAYMENTS ON MORTAGAGE LOANS: 49,578.90
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 42,954.37
CURTAILMENTS 19,342.91
PREPAYMENTS 509,304.90
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
REMAINING PRE-FUNDING AMOUNTS FOR DISTRIBUTION 0.00
FIXED RATE PRINCIPAL REMITTANCE AMOUNT: 571,602.18
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 6,624.53
CURTAILMENTS 3,648.82
PREPAYMENTS 595,489.10
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-3 PORTION 0.00
PRIOR CLASS A-3 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
CLASS A-3 PRINCIPAL REMITTANCE AMOUNT: 605,762.45
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 297,629.50
AMOUNT OF FIXED RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT OF VARIABLE RATE INSURED
PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 771,000.47
VARIABLE RATE AVAILABLE REMITTANCE
AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 677,868.73
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: July 15, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.37%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 10.90%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 70,225.62
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-1 INTEREST REMITTANCE AMOUNT: 70,225.62
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 95,394.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-2 INTEREST REMITTANCE AMOUNT: 95,394.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 39,870.78
LESS: A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
CLASS A-3 INTEREST REMITTANCE AMOUNT: 39,870.78
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
CLASS A-3 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OR SELLER TO THE EXTENT OF
REIMBURSABLE AMOUNTS: 0.00
REIMBURSEMENTS TO THE SERVICER OF SELLER TO THE EXTENT OF
NONRECOVERABLE ADVANCES: 0.00
Page 4 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: July 15, 1998
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 20,369.56
NET SIMPLE INTEREST EXCESS
DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 18,867.94
NET SIMPLE INEREST SHORTFALL
WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 0.00
LESS: ANNUAL WITHDRAWAL OF
90% OF BALANCE - P&S SECTION 5.03 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 39,237.50
AMOUNT TRANSFERRED FROM THE
SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 61,837.84
SPREAD ACCOUNT BEGINNING BALANCE: 932,341.74
ADD'L NET SIMPLE INTEREST SHORTFALL WITHDRAWAL 2,786.33
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 61,901.43
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 4,184.62
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 66,086.05
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 61,837.84
SPREAD ACCOUNT ENDING BALANCE: 936,589.94
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 61,901.43
AMOUNT OF MONTHLY EXCESS SPREAD: 61,901.43
AMOUNT OF SPREAD ACCOUNT EXCESS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
AMOUNT OF SPREAD ACCOUNT
EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
BASE SPREAD ACCOUNT REQUIREMENT: 936,589.94
SUMMARY OF REALIZED LOSSES:
CURRENT GROUP I REALIZED LOSSES: 0.00
CUMULATIVE GROUP I REALIZED LOSSES: 0.00
CUMULATIVE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
CURRENT GROUP II REALIZED LOSSES: 0.00
CUMULATIVE GROUP II REALIZED LOSSES: 5,208.85
Page 5 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-1
Statement to Certificateholders
Distribution Date: July 15, 1998
CUMULATIVE REALIZED LOSSES
ON THE VARIABLE RATE CERTIFICATES: 0.00
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE
ACCOUNT PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID
SERVICING FEES & ADVANCES 0.00
SECTION 3.03 (iv) INTEREST
EARNED ON SPREAD ACCOUNT DUE SERVICER 0.00
SECTION 3.03 (v) AMOUNTS DEPOSITED
IN CERTIFICATE ACCOUNT IN ERROR 0.00
SECTION 3.03 (vii) REO
CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.00
SECTION 3.03 (viii) REIMBURSEMENT
OF NONRECOVERABLE ADVANCES 0.00
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
CLASS A-3 NET FUNDS CAP
CARRYOVER AMOUNT DISTRIBUTED TO CLASS A-3: 0.00
BALANCE OF CLASS A-3 NET
FUNDS CAP CARRYOVER RESERVE ACCOUNT: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
