August 6, 1998
Securities and Exchange Commission
J Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Lehman Home Equity Loan Trust 1997-2 Home Equity Loan Asset-Backed
Certificates, Series 1997-2; 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 1997-2 (the
"Certificates"), will consist of two Classes (each , a "Class") of senior
Certificates, the Class A-1 Certificates (the "Fixed Rate Certificates")
and the Class A-2 Certificates (the "Variable Rate Certificates" and
together with the Fixed Rate Certificates the "Class A Certificates") and
on 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 of Class A
Certificates that relate to the corresponding Group of Mortgage Loans)
held by Lehman Home Equity Loan Trust 1997-2 (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 and second 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") form Home Loan. The aggregate undivided interest in the
Trust represented by the Fixed Rate Certificates will initially be equal
to $39,000,000, which as of December 1, 1997 (the "Cut-Off Date") is
approximately 100% of the sum of the outstanding Principal Balances (as
defined in the Prospectus Supplement dated November 26, 1997) of the
Mortgage Loans in Group I. The aggregate undivided interest in the Trust
prepresented by the Variable Rate Certificates will initially be equal to
$30,000,000, which as of the Cut-Off Date is approximately 100% o the sum
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 in
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
1997-2 Home Equity Loan Asset-Backed Certificates, Series 1997-2.
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): January 25,
1998.
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 December 1, 1997,
providing for the issuance of the Home Equity Loan Asset-Backed
Certificates, Series 1997-2).
LEHMAN HOME EQUITY TRUST 1997-2 HOME EQUITY LOAN ASSET-BACKED
CERTIFICATES, SERIES 1997-2.
(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
January 25, 1998.
Monthly Report to Certificateholders as to distributions made on
February 25, 1998.
Monthly Report to Certificateholders as to distributions made on
March 25, 1998.
Monthly Report to Certificateholders as to distributions made on
April 25, 1998.
Monthly Report to Certificateholders as to distributions made on
May 25, 1998.
Monthly Report to Certificateholders as to distributions made on
June 25, 1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Depositor 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
December 1, 1997.
Date: August 6, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the Certificateholders 5
dated as of January 25, 1998.
Monthly Remittance Statement to the Certificateholders 12
dated as of February 25, 1998.
Monthly Remittance Statement to the Certificateholders 18
dated as of March 25, 1998.
Monthly Remittance Statement to the Certificateholders 25
dated as of April 25, 1998.
Monthly Remittance Statement to the Certificateholders 31
dated as of May 25, 1998.
Monthly Remittance Statement to the Certificateholders 37
dated as of June 25, 1998.
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 39,000,000.00 39,000,000.00 223,599.99 319,209.76
A-2 30,000,000.00 30,000,000.00 177,825.00 426,829.94
R 0.00 0.00 0.00 0.00
TOTALS 69,000,000.00 69,000,000.00 401,424.99 746,039.70
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 542,809.75 0.00 0.00 38,680,790.24
A-2 604,654.94 0.00 0.00 29,573,170.06
R 0.00 0.00 0.00 0.00
TOTALS 1,147,464.69 0.00 0.00 68,253,960.30
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A-1 525180BF1 1,000.000000 5.7333331 8.1848656 13.9181987 991.8151344
A-2 525180BG9 1,000.000000 5.9275000 14.2276647 20.1551647 985.7723353
R LH9702101 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 6.880000% 6.880000%
A-2 5.927500% 5.833750%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B. ADMINISTRATOR: Jake Steen
SERVICER: Home Loan and Investment Bank, F.S.B. Bankers Trust Company
LEAD UNDERWRITER: Lehman ABS Corporation 3 Park Plaza
RECORD DATE: December 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: January 15, 1998 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 1997-2
Statement to Certificateholders
Distribution Date: January 15, 1998
ACCRUED SERVICING FEE COLLECTED: 26,148.17
PERMITTED REDUCTIONS TO SERVICING FEES: 0.00
TOTAL SERVICING FEES DUE MASTER SERVICER: 26,148.17
AMOUNT OF MONTHLY ADVANCES: 33,445.16
AMOUNT OF COMPENSATING INTEREST: 0.00
AMOUNT DUE THE CERTIFICATE INSURER: 8,425.00
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS FORCLOSURE REO
GROUP1 PRINCIPAL BALANCE 56.128.06 0.00 0.00 47,752.58 0.00
% OF ENDING POOL BALANCE 0.1451% 0.0000% 0.0000% 0.1235% 0.0000%
NUMBER OF LOANS 1 0 0 1 0
% OF LOANS REMAINING 0.1431% 0.0000% 0.0000% 0.1431% 0.0000%
GROUP 2 PRINCIPAL BALANCE 137,074.49 0.00 0.00 439,770.63 25,785.57
% OF ENDING POOL BALANCE 0.4635% 0.0000% 0.0000% 1.1369% 0.0872%
NUMBER OF LOANS 2 0 0 9 1
% OF LOANS REMAINING 0.4211% 0.0000% 0.0000% 1.2876% 0.2105%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,680,790.24
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 29,573,170.06
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 68,988,650.34
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 68,988,650.34
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 68,253,960.30
NUMBER OF LOANS IN GROUP I AT THE BEGINNING OF THE RELATED DUE PERIOD: 705
NUMBER OF LOANS IN GROUP I AT THE END OF THE RELATED DUE PERIOD: 699
NUMBER OF LOANS IN GROUP II AT THE BEGINNING OF THE RELATED DUE PERIOD: 484
NUMBER OF LOANS IN GROUP II AT THE END OF THE RELATED DUE PERIOD: 475
TOTAL NUMBER OF LOANS AT THE BEGINNING OF THE RELATED DUE PERIOD: 1,189
TOTAL NUMBER OF LOANS AT THE END OF THE RELATED DUE PERIOD: 1,174
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 211
GROUP II WEIGHTED ABERAGE REMAINING TERM TO MATURITY: 281
Page 2 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
Distribution Date: January 15, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT TO PREPAYMENTS AS OF THE CURRENT
DISTRIBUTION DATE: 590,557.43
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS AS OF THE CURRENT DISTRIBUTION
DATE: 15
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 42,092.90
PRICIPAL PORTION OF MONTHLY PAYMENTS ON MORTAGAGE LOANS: 102,039.71
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRICIPAL PAYMENTS 62,002.61
CURTAILMENTS 29,064.64
PREPAYMENTS 217,236.45
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRICIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRICIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
FIXED RATE PRICIPAL REMITTANCE AMOUNT: 319,209.76
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 40,037.10
CURTAILMENTS 13,028.26
PREPAYMENTS 373,320.98
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR CLASS A-2 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
VARIABLE RATE PRICIPAL REMITTANCE AMOUNT: 426,829.94
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 534,700.30
AMOUNT OF FIXED RATE INSURED PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE:0.00
AMOUNT OF VARIABLE RATE INSURED PAYMENTS AS OF THE CURRENT DIST. DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE AMOUNT AS OF THE CURRENT DIST. DATE:606,980.06
VARIABLE RATE AVAILABLE REMITTANCE AMT AS OF THE CURRENT DIST. DATE:637,282.38
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
Distribution Date: January 15, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.42%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 8.95%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 223,599.99
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
FIXED RATE INTEREST REMITTANCE AMOUNT: 223,599.99
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 177,825.00
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
VARIABLE RATE INTEREST REMITTANCE AMOUNT: 177,825.00
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP II MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OF 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 1997-2
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: 0.00
NET SIMPLE INTEREST
EXCESS DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 43,744.55
NET SIMPLE INEREST
SHORTFALL WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 0.00
LESS: ANNUAL WITHDRAWAL
OF 90% OF BALANCE - P&S SECTION 6.02 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 43,774.55
AMOUNT TRANSFERRED FROM THE SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNIG BALANCE: 0.00
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 88,372.75
GAIN/(LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 0.00
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 88,372.75
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 88,372.75
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 88,372.75
AMOUNT OF MONTHLY EXCESS SPREAD: 88,372.75
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
SUMMARY OF REALIZED LOSSED:
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 1997-2
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 0.000
SECTION 3.03 (iv) INTEREST EARNED ON SPREAD ACCOUNT DUE SERVICER 0.000
SECTION 3.03 (v) AMOUNTS DEPOSITED IN CERTIFICATE ACCOUNT IN ERROR 0.000
SECTION 3.03 (vii) REO CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.000
SECTION 3.03 (viii) REIMBURSEMENT OF NONRECOVERABLE ADVANCES 0.000
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT ON DEPOSIT IN THE PRE-FUNDING
ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT ON DEPOSIT IN THE CAPITALIZED
INTEREST ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 39,000,000.00 38,680,790.24 221,769.86 64,259.68
A-2 30,000,000.00 29,573,170.06 158,145.60 590,735.50
R 0.00 0.00 0.00 0.00
TOTALS 69,000,000.00 68,253,960.30 379,915.46 654,995.18
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 286,029.54 0.00 0.00 38,616,530.56
A-2 748,881.10 0.00 0.00 28,982,434.56
R 0.00 0.00 0.00 0.00
TOTALS 1,034,910.64 0.00 0.00 67,598,965.12
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A-1 525180BF1 991.8151344 5.6864067 1.6476841 7.3340908 990.1674503
A-2 525180BG9 985.7723353 5.2715200 19.6911833 24.9627033 966.0811520
R LH9702101 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 6.880000% 6.880000%
A-2 5.833750% 5.865000%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B. ADMINISTRATOR: Jake Steen
SERVICER: Home Loan and Investment Bank, F.S.B. Bankers Trust Company
LEAD UNDERWRITER: Lehman ABS Corporation 3 Park Plaza
RECORD DATE: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 17, 1998 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 1997-2
Statement to Certificateholders
Distribution Date: February 17, 1998
ACCRUED SERVICING FEE COLLECTED: 28,262.70
PERMITTED REDUCTIONS TO SERVICING FEES: (581.03)
TOTAL SERVICING FEES DUE MASTER SERVICER: 27,681.67
AMOUNT OF MONTHLY ADVANCES: 39,539.35
AMOUNT OF COMPENSATING INTEREST: 581.03
AMOUNT DUE THE CERTIFICATE INSURER: 7,985.64
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS FORCLOSURE REO
GROUP1 PRINCIPAL BALANCE 56.128.06 0.00 0.00 0.00 0.00
% OF ENDING POOL BALANCE 0.1453% 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 1 0 0 0 0
% OF LOANS REMAINING 0.1431% 0.0000% 0.0000% 0.0000% 0.0000%
GROUP 2 PRINCIPAL BALANCE 62,848.60 0.00 0.00 0.00 0.00
% OF ENDING POOL BALANCE 0.2169% 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 1 0 0 0 0
% OF LOANS REMAINING 0.2151% 0.0000% 0.0000% 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,680,790.24
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,616,530.56
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 29,573,170.06
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 28,982,434.56
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 68,988,650.34
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 68,253,960.30
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 67,598,965.12
NUMBER OF LOANS IN GROUP I AT THE BEGINNING OF THE RELATED DUE PERIOD: 699
NUMBER OF LOANS IN GROUP I AT THE END OF THE RELATED DUE PERIOD: 699
NUMBER OF LOANS IN GROUP II AT THE BEGINNING OF THE RELATED DUE PERIOD: 475
NUMBER OF LOANS IN GROUP II AT THE END OF THE RELATED DUE PERIOD: 465
TOTAL NUMBER OF LOANS AT THE BEGINNING OF THE RELATED DUE PERIOD: 1,174
TOTAL NUMBER OF LOANS AT THE END OF THE RELATED DUE PERIOD: 1,164
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 210
GROUP II WEIGHTED ABERAGE REMAINING TERM TO MATURITY: 280
Page 2 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
Distribution Date: February 17, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT TO PREPAYMENTS AS OF THE CURRENT
DISTRIBUTION DATE: 546,145.35
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS AS OF THE CURRENT DISTRIBUTION
DATE: 10
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 25,714.80
PRICIPAL PORTION OF MONTHLY PAYMENTS ON MORTAGAGE LOANS: 83,135.03
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRICIPAL PAYMENTS 49,935.20
CURTAILMENTS 14,324.48
PREPAYMENTS 0.00
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRICIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRICIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
FIXED RATE PRICIPAL REMITTANCE AMOUNT: 64,259.68
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 33,199.83
CURTAILMENTS 11,390.32
PREPAYMENTS 546,145.35
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR CLASS A-2 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
VARIABLE RATE PRICIPAL REMITTANCE AMOUNT: 590,735.50
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 522,437.77
AMOUNT OF FIXED RATE INSURED PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE:0.00
AMOUNT OF VARIABLE RATE INSURED PAYMENTS AS OF THE CURRENT DIST. DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE AMOUNT AS OF THE CURRENT DIST. DATE:358,048.29
VARIABLE RATE AVAILABLE REMITTANCE AMT AS OF THE CURRENT DIST. DATE:803,372.27
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
Distribution Date: February 17, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.41%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 8.95%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 221,769.86
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
FIXED RATE INTEREST REMITTANCE AMOUNT: 221,769.86
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 158,145.60
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
VARIABLE RATE INTEREST REMITTANCE AMOUNT: 158,145.60
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP II MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 0.00
REIMBURSEMENTS TO THE SERVICER OF 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 1997-2
Statement to Certificateholders
Distribution Date: February 17, 1998
AMOUNT TRANSFERRED FROM THE SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE
ACCOUNT: 5,710.02
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 43,774.55
NET SIMPLE INTEREST
EXCESS DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 134.93
NET SIMPLE INEREST
SHORTFALL WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT. 5,710.02
LESS: ANNUAL WITHDRAWAL
OF 90% OF BALANCE - P&S SECTION 6.02 0.00
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 38,199.46
AMOUNT TRANSFERRED FROM THE SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNIG BALANCE: 88,372.75
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 118,524.28
GAIN/(LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 0.00
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 118,524.28
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 206,897.03
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 118,524.28
AMOUNT OF MONTHLY EXCESS SPREAD: 118,524.28
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
SUMMARY OF REALIZED LOSSED:
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 1997-2
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 0.000
SECTION 3.03 (iv) INTEREST EARNED ON SPREAD ACCOUNT DUE SERVICER 0.000
SECTION 3.03 (v) AMOUNTS DEPOSITED IN CERTIFICATE ACCOUNT IN ERROR 0.000
SECTION 3.03 (vii) REO CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.000
SECTION 3.03 (viii) REIMBURSEMENT OF NONRECOVERABLE ADVANCES 0.000
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT ON DEPOSIT IN THE PRE-FUNDING
ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT ON DEPOSIT IN THE CAPITALIZED
INTEREST ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 39,000,000.00 38,616,530.56 202,080.09 499,753.72
A-2 30,000,000.00 28,982,434.56 117,807.79 731,928.98
R 0.00 0.00 0.00 0.00
TOTALS 69,000,000.00 67,598,965.12 319,887.88 1,231,682.70
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 701,833.81 0.00 0.00 38,116,776.84
A-2 849,736.77 0.00 0.00 28,250,505.58
R 0.00 0.00 0.00 0.00
TOTALS 1,551,570.58 0.00 0.00 66,367,282.42
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A-1 525180BF1 990.1674503 5.1815408 12.8141979 17.9957387 977.3532523
A-2 525180BG9 966.0811520 3.9269263 24.3976327 28.3245590 941.6835193
R LH9702101 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 6.880000% 6.880000%
A-2 5.865000% 5.927500%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B. ADMINISTRATOR: Jake Steen
SERVICER: Home Loan and Investment Bank, F.S.B. Bankers Trust Company
LEAD UNDERWRITER: Lehman ABS Corporation 3 Park Plaza
RECORD DATE: February 27, 1998 Irvine, CA 92614
DISTRIBUTION DATE: March 16, 1998 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 1997-2
Statement to Certificateholders
Distribution Date: March 16, 1998
ACCRUED SERVICING FEE COLLECTED: 4,744.54
PERMITTED REDUCTIONS TO SERVICING FEES: (638.90)
TOTAL SERVICING FEES DUE MASTER SERVICER: 4,105.64
AMOUNT OF MONTHLY ADVANCES: 4,576.83
AMOUNT OF COMPENSATING INTEREST: 4,984.65
AMOUNT DUE THE CERTIFICATE INSURER: 7,226.61
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS FORCLOSURE REO
GROUP1 PRINCIPAL BALANCE 0.0000 56,128.06 0.00 0.00 0.00
% OF ENDING POOL BALANCE 0.0000% 0.1473% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 1 0 0 0
% OF LOANS REMAINING 0.0000% 0.1449% 0.0000% 0.0000% 0.0000%
GROUP 2 PRINCIPAL BALANCE 83,758.16 0.00 0.00 0.00 0.00
% OF ENDING POOL BALANCE 0.2965% 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 1 0 0 0 0
% OF LOANS REMAINING 0.2193% 0.0000% 0.0000% 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,616,530.56
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,116,776.84
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 29,982,434.56
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 28,250,505.58
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 68,988,650.34
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 67,598,965.12
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 66,367,282.42
NUMBER OF LOANS IN GROUP I AT THE BEINNING OF THE RELATED DUE PERIOD: 699
NUMBER OF LOANS IN GROUP I AT THE END OF THE RELATED DUE PERIOD: 690
NUMBER OF LOANS IN GROUP II AT THE BEGINNING OF THE RELATED DUE PERIOD: 465
NUMBER OF LOANS IN GROUP II AT THE END OF THE RELATED DUE PERIOD: 456
TOTAL NUMBER OF LOANS AT THE BEGINNING OF THE RELATED DUE PERIOD: 1,164
TOTAL NUMBER OF LOANS AT THE END OF THE RELATED DUE PERIOD: 1,146
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 209
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 279
Page 2 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
Distribution Date: March 16, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT TO PREPAYMENTS AS OF THE CURRENT
DISTRIBUTION DATE: 1,112,848.09
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS AS OF THE CURRENT DISTRIBUTION
DATE: 18
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 32,959.77
PRICIPAL PORTION OF MONTHLY PAYMENTS ON MORTAGAGE LOANS: 85,874.84
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRICIPAL PAYMENTS 52,682.15
CURTAILMENTS 24,154.95
PREPAYMENTS 422,916.62
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRICIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRICIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
FIXED RATE PRICIPAL REMITTANCE AMOUNT: 499,753.72
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 33,192.69
CURTAILMENTS 8,804.82
PREPAYMENTS 689,931.47
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR CLASS A-2 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
VARIABLE RATE PRICIPAL REMITTANCE AMOUNT: 731,928.98
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 492,221.44
AMOUNT OF FIXED RATE INSURED PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE:0.00
AMOUNT OF VARIABLE RATE INSURED PAYMENTS AS OF THE CURRENT DIST. DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE AMOUNT AS OF THE CURRENT DIST. DATE:787,721.21
VARIABLE RATE AVAILABLE REMITTANCE AMT AS OF THE CURRENT DIST. DATE:939,659.98
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
Distribution Date: March 16, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.41%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 8.94%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 221,401.44
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT (19,321.35)
FIXED RATE INTEREST REMITTANCE AMOUNT: 202,080.09
CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 19,321.35
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP I MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 19,321.35
CLASS A-2 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 127,486.48
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 9,678.69
VARIABLE RATE INTEREST REMITTANCE AMOUNT: 117,807.79
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 9,678.69
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP II MORTGAGE LOAN INTEREST SHORTFALL AMOUNT: 9,678.69
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 1997-2
Statement to Certificateholders
Distribution Date: March 16, 1998
AMOUNT TRANSFERRED FROM THE SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE
ACCOUNT: 38,199.46
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 38,199.46
NET SIMPLE INTEREST EXCESS DEPOSITED IN SIMPLE INTEREST EXCESS SUB-ACCT. 0.00
NET SIMPLE INEREST SHORTFALL WITHDRAWN FROM SIMPLE INTEREST SUB-ACCT.38,199.46
LESS: ANNUAL WITHDRAWAL OF 90% OF BALANCE - P&S SECTION 6.02 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 BEGINNIG BALANCE: 206,897.03
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 168,584.00
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 0.00
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 168,584.00
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 375,481.03
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 168,584.00
AMOUNT OF MONTHLY EXCESS SPREAD: 168,584.00
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
SUMMARY OF REALIZED LOSSED:
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 1997-2
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 0.000
SECTION 3.03 (iv) INTEREST EARNED ON SPREAD ACCOUNT DUE SERVICER 0.000
SECTION 3.03 (v) AMOUNTS DEPOSITED IN CERTIFICATE ACCOUNT IN ERROR 0.000
SECTION 3.03 (vii) REO CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.000
SECTION 3.03 (viii) REIMBURSEMENT OF NONRECOVERABLE ADVANCES 0.000
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT ON DEPOSIT IN THE PRE-FUNDING
ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT ON DEPOSIT IN THE CAPITALIZED
INTEREST ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 39,000,000.00 38,116,776.84 218,536.18 1,008,249.50
A-2 30,000,000.00 28,250,505.58 139,545.72 588,327.19
R 0.00 0.00 45,063.19 0.00
TOTALS 69,000,000.00 66,367,282.42 403,145.09 1,596,576.69
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 1,226,785.68 0.00 0.00 37,108,527.34
A-2 727,872.19 0.00 0.00 27,662,178.39
R 45,063.19 0.00 0.00 0.00
TOTALS 1,999,721.78 0.00 0.00 64,770,705.73
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A-1 525180BF1 977.3532523 5.6034918 25.8525513 31.4560431 951.5007010
A-2 525180BG9 941.6835193 4.6515240 19.6109063 24.2624303 922.0726130
R LH9702101 0.0000000 0.6530897 0.0000000 0.6530897 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 6.880000% 6.880000%
A-2 5.927500% 5.896250%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B. ADMINISTRATOR: Jake Steen
SERVICER: Home Loan and Investment Bank, F.S.B. Bankers Trust Company
LEAD UNDERWRITER: Lehman ABS Corporation 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 15, 1998 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 1997-2
Statement to Certificateholders
Distribution Date: April 15, 1998
ACCRUED SERVICING FEE COLLECTED: 5,887.40
PERMITTED REDUCTIONS TO SERVICING FEES: (2,744.58)
TOTAL SERVICING FEES DUE MASTER SERVICER: 3,142.82
AMOUNT OF MONTHLY ADVANCES: 6,309.23
AMOUNT OF COMPENSATING INTEREST: 2,744.58
AMOUNT DUE THE CERTIFICATE INSURER: 7,425.21
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS FORCLOSURE REO
GROUP 1 PRINCIPAL BALANCE 0.0000 0.00 56,128.06 0.00 56,128.06
% OF ENDING POOL BALANCE 0.0000% 0.0000% 0.1513% 0.0000% 0.1513%
NUMBER OF LOANS 0 0 1 0 1
% OF LOANS REMAINING 0.0000% 0.0000% 0.1490% 0.0000% 0.1490%
GROUP 2 PRINCIPAL BALANCE 82,968.25 83,758.16 0.00 0.00 0.00
% OF ENDING POOL BALANCE 0.2999% 0.3028% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 1 1 0 0 0
% OF LOANS REMAINING 0.2237% 0.2237% 0.0000% 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,116,776.84
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 37,108,527.34
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 28,250,505.58
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 27,662,178.39
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 68,988,650.34
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 66,367,282.42
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 64,770,705.73
NUMBER OF LOANS IN GROUP I AT THE BEGINNING OF THE RELATED DUE PERIOD: 690
NUMBER OF LOANS IN GROUP I AT THE END OF THE RELATED DUE PERIOD: 671
NUMBER OF LOANS IN GROUP II AT THE BEGINNING OF THE RELATED DUE PERIOD: 456
NUMBER OF LOANS IN GROUP II AT THE END OF THE RELATED DUE PERIOD: 447
TOTAL NUMBER OF LOANS AT THE BEGINNING OF THE RELATED DUE PERIOD: 1,146
TOTAL NUMBER OF LOANS AT THE END OF THE RELATED DUE PERIOD: 1,118
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 208
GROUP II WEIGHTED AVERAGE REMAINING TERM TO MATURITY: 279
Page 2 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
Distribution Date: April 15, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT TO PREPAYMENTS AS OF THE CURRENT
DISTRIBUTION DATE: 1,448,045.82
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS AS OF THE CURRENT DISTRIBUTION
DATE: 28
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 24,642.86
PRICIPAL PORTION OF MONTHLY PAYMENTS ON MORTAGAGE LOANS: 123,888.01
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRICIPAL PAYMENTS 76,630.00
CURTAILMENTS 15,778.71
PREPAYMENTS 915,840.79
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRICIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRICIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
FIXED RATE PRICIPAL REMITTANCE AMOUNT: 1,008,249.50
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 47,258.01
CURTAILMENTS 8,864.15
PREPAYMENTS 532,205.03
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR CLASS A-2 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
VARIABLE RATE PRICIPAL REMITTANCE AMOUNT: 588,327.19
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 523,600.37
AMOUNT OF FIXED RATE INSURED PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE:0.00
AMOUNT OF VARIABLE RATE INSURED PAYMENTS AS OF THE CURRENT DIST. DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE AMT AS OF THE CURRENT DIST. DATE: 1,306,205.46
VARIABLE RATE AVAILABLE REMITTANCE AMT AS OF THE CURRENT DIST. DATE:807,554.16
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
Distribution Date: April 15, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.41%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 8.98%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 218,536.18
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
FIXED RATE INTEREST REMITTANCE AMOUNT: 218,536.18
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 139,545.72
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 9,678.69
VARIABLE RATE INTEREST REMITTANCE AMOUNT: 139,545.72
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP II 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 1997-2
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: 0.00
NET SIMPLE INTEREST EXCESS DEPOSITED IN SIMPLE INT. EXCESS SUB-ACCT. 50,070.21
NET SIMPLE INEREST SHORTFALL WITHDRAWN FROM SIMPLE INT. SUB-ACCT. 0.00
LESS: ANNUAL WITHDRAWAL OF 90% OF BALANCE - P&S SECTION 6.02 (45,063.19)
SIMPLE INTEREST EXCESS SUB-ACCOUNT ENDING BALANCE: 5,007.02
AMOUNT TRANSFERRED FROM THE SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
SPREAD ACCOUNT BEGINNING BALANCE: 375,819.81
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 106,612.63
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 920.81
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 107,533.44
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 483,353.25
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 106,612.63
AMOUNT OF MONTHLY EXCESS SPREAD: 106,612.63
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
SUMMARY OF REALIZED LOSSED:
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 1997-2
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 0.000
SECTION 3.03 (iv) INTEREST EARNED ON SPREAD ACCOUNT DUE SERVICER 0.000
SECTION 3.03 (v) AMOUNTS DEPOSITED IN CERTIFICATE ACCOUNT IN ERROR 0.000
SECTION 3.03 (vii) REO CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.000
SECTION 3.03 (viii) REIMBURSEMENT OF NONRECOVERABLE ADVANCES 0.000
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT ON DEPOSIT IN THE PRE-FUNDING
ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT ON DEPOSIT IN THE CAPITALIZED
INTEREST ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 39,000,000.00 37,108,527.34 212,755.55 1,118,178.56
A-2 30,000,000.00 27,662,178.39 136,639.63 1,227,015.22
R 0.00 0.00 0.00 0.00
TOTALS 69,000,000.00 64,770,705.73 349,395.18 2,345,193.78
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 1,330,934.11 0.00 0.00 35,990,348.78
A-2 1,363,654.85 0.00 0.00 26,435,163.17
R 0.00 0.00 0.00 0.00
TOTALS 2,694,588.96 0.00 0.00 62,425,511.95
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A-1 525180BF1 951.5007010 5.4552705 28.6712451 34.1265156 922.8294559
A-2 525180BG9 922.0726130 4.5546543 40.9005073 45.4551617 881.1721057
R 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 6.880000% 6.880000%
A-2 5.927500% 5.896250%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B. ADMINISTRATOR: Jake Steen
SERVICER: Home Loan and Investment Bank, F.S.B. Bankers Trust Company
LEAD UNDERWRITER: Lehman ABS Corporation 3 Park Plaza
RECORD DATE: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 15, 1998 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 1997-2
Statement to Certificateholders
Distribution Date: May 15, 1998
ACCRUED SERVICING FEE COLLECTED: 5,048.31
PERMITTED REDUCTIONS TO SERVICING FEES: (3,288.08)
TOTAL SERVICING FEES DUE MASTER SERVICER: 1,760.23
AMOUNT OF MONTHLY ADVANCES: 8,804.57
AMOUNT OF COMPENSATING INTEREST: 3,288.08
AMOUNT DUE THE CERTIFICATE INSURER: 7,247.34
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS FORCLOSURE REO
GROUP 1 PRINCIPAL BALANCE 33,547.53 0.00 56,128.06 0.00 56,128.06
% OF ENDING POOL BALANCE 0.0932% 0.0000% 0.1506% 0.0000% 0.1506%
NUMBER OF LOANS 1 0 1 0 1
% OF LOANS REMAINING 0.1538% 0.0000% 0.1538% 0.0000% 0.1538%
GROUP 2 PRINCIPAL BALANCE 48,764.10 82,968.25 0.00 0.00 0.00
% OF ENDING POOL BALANCE 0.1845% 0.3139% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 1 1 0 0 0
% OF LOANS REMAINING 0.2336% 0.2336% 0.0000% 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 37,108,527.34
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 35,990,348.78
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 27,662,178.39
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 26,435,163.17
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 68,988,650.34
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 64,770,705.73
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 62,425,511.95
NUMBER OF LOANS IN GROUP I AT THE BEGINNING OF THE RELATED DUE PERIOD: 671
NUMBER OF LOANS IN GROUP I AT THE END OF THE RELATED DUE PERIOD: 650
NUMBER OF LOANS IN GROUP II AT THE BEGINNING OF THE RELATED DUE PERIOD: 447
NUMBER OF LOANS IN GROUP II AT THE END OF THE RELATED DUE PERIOD: 428
TOTAL NUMBER OF LOANS AT THE BEGINNING OF THE RELATED DUE PERIOD: 1,118
TOTAL NUMBER OF LOANS AT THE END OF THE RELATED DUE PERIOD: 1,078
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 207
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 1997-2
Statement to Certificateholders
Distribution Date: May 15, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT TO PREPAYMENTS AS OF THE CURRENT
DISTRIBUTION DATE: 2,230,008.91
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS AS OF THE CURRENT DISTRIBUTION
DATE: 40
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 31,004.20
PRICIPAL PORTION OF MONTHLY PAYMENTS ON MORTAGAGE LOANS: 84,180.67
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRICIPAL PAYMENTS 53,205.46
CURTAILMENTS 19,341.08
PREPAYMENTS 1,045,632.02
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRICIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRICIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
FIXED RATE PRICIPAL REMITTANCE AMOUNT: 1,118,178.56
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 30,975.21
CURTAILMENTS 11,663.12
PREPAYMENTS 1,184,376.89
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR CLASS A-2 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
VARIABLE RATE PRICIPAL REMITTANCE AMOUNT: 1,227,015.22
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 479,333.86
AMOUNT OF FIXED RATE INSURED PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE:0.00
AMOUNT OF VARIABLE RATE INSURED PAYMENTS AS OF THE CURRENT DIST. DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE AMT AS OF THE CURRENT DIST. DATE: 1,412,680.02
VARIABLE RATE AVAILABLE
REMITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,441,782.81
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
Distribution Date: May 15, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.41%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.13%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 212,755.55
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
FIXED RATE INTEREST REMITTANCE AMOUNT: 212,755.55
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 136,639.63
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
VARIABLE RATE INTEREST REMITTANCE AMOUNT: 136,639.63
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP II 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 1997-2
Statement to Certificateholders
Distribution Date: May 15, 1998
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 29,200.08
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 5,007.02
NET SIMPLE INTEREST EXCESS DEPOSITED IN SIMPLE INT. EXCESS SUB-ACCT. 0.00
NET SIMPLE INEREST SHORTFALL WITHDRAWN FROM SIMPLE INT. SUB-ACCT. 29,200.08
LESS: ANNUAL WITHDRAWAL OF 90% OF BALANCE - P&S SECTION 6.02 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: 450,007.46
ADD'L NET SIMPLE INTEREST SHORTFALL WITHDRAWAL (24,193.06)
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 152,626.53
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 922.72
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 129,356.19
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 579,363.65
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 152,626.53
AMOUNT OF MONTHLY EXCESS SPREAD: 152,626.53
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
SUMMARY OF REALIZED LOSSED:
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 1997-2
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 0.000
SECTION 3.03 (iv) INTEREST EARNED ON SPREAD ACCOUNT DUE SERVICER 0.000
SECTION 3.03 (v) AMOUNTS DEPOSITED IN CERTIFICATE ACCOUNT IN ERROR 0.000
SECTION 3.03 (vii) REO CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.000
SECTION 3.03 (viii) REIMBURSEMENT OF NONRECOVERABLE ADVANCES 0.000
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT ON DEPOSIT IN THE PRE-FUNDING
ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT ON DEPOSIT IN THE CAPITALIZED
INTEREST ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 39,000,000.00 35,990,348.78 206,344.66 1,252,839.74
A-2 30,000,000.00 26,435,163.17 134,219.95 1,916,374.65
R 0.00 0.00 0.00 0.00
TOTALS 69,000,000.00 62,425,511.95 340,564.61 3,169,214.39
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 1,459,184.40 0.00 0.00 34,737,509.04
A-2 2,050,594.60 0.00 0.00 24,518,788.52
R 0.00 0.00 0.00 0.00
TOTALS 3,509,779.00 0.00 0.00 59,256,297.56
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A-1 525180BF1 922.8294559 5.2908887 32.1240959 37.4149846 890.7053600
A-2 525180BG9 881.1721057 4.4739983 63.8791550 68.3531533 817.2929507
R 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 6.880000% 6.880000%
A-2 5.896250% 5.896250%
R 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B. ADMINISTRATOR: Jake Steen
SERVICER: Home Loan and Investment Bank, F.S.B. Bankers Trust Company
LEAD UNDERWRITER: Lehman ABS Corporation 3 Park Plaza
RECORD DATE: May 29, 1998 Irvine, CA 92614
DISTRIBUTION DATE: June 15, 1998 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 1997-2
Statement to Certificateholders
Distribution Date: June 15, 1998
ACCRUED SERVICING FEE COLLECTED: 5,847.95
PERMITTED REDUCTIONS TO SERVICING FEES: (2,989.69)
TOTAL SERVICING FEES DUE MASTER SERVICER: 2,858.26
AMOUNT OF MONTHLY ADVANCES: 7,812.98
AMOUNT OF COMPENSATING INTEREST: 2,989.69
AMOUNT DUE THE CERTIFICATE INSURER: 6,983.06
DELINQUENT LOAN TOTAL TOTAL
INFORMATION: 30 TO 59 69 TO 89 90 AND OVER LOANS IN LOANS IN
(INC. LOANS IN FORECLOSURE) DAYS DAYS DAYS FORCLOSURE REO
GROUP 1 PRINCIPAL BALANCE 33,547.53 0.00 56,128.06 0.00 56,128.06
% OF ENDING POOL BALANCE 0.0966% 0.0000% 0.1616% 0.0000% 0.1616%
NUMBER OF LOANS 1 0 1 0 1
% OF LOANS REMAINING 0.1597% 0.0000% 0.1597% 0.0000% 0.1597%
GROUP 2 PRINCIPAL BALANCE 95,298.44 0.00 0.00 0.00 0.00
% OF ENDING POOL BALANCE 0.3887% 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 2 0 0 0 0
% OF LOANS REMAINING 0.5013% 0.0000% 0.0000% 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 35,990,348.78
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP I: 34,737,509.04
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 26,435,163.17
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN GROUP II: 24,518,788.52
ORIGINAL PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 68,988,650.34
BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 62,425,511.95
ENDING PRINCIPAL BALANCE OF MORTGAGE LOAN POOL: 59,256,297.56
NUMBER OF LOANS IN GROUP I AT THE BEGINNING OF THE RELATED DUE PERIOD: 650
NUMBER OF LOANS IN GROUP I AT THE END OF THE RELATED DUE PERIOD: 626
NUMBER OF LOANS IN GROUP II AT THE BEGINNING OF THE RELATED DUE PERIOD: 428
NUMBER OF LOANS IN GROUP II AT THE END OF THE RELATED DUE PERIOD: 399
TOTAL NUMBER OF LOANS AT THE BEGINNING OF THE RELATED DUE PERIOD: 1,078
TOTAL NUMBER OF LOANS AT THE END OF THE RELATED DUE PERIOD: 1,025
GROUP I WEIGHTED AVERAGE REMIANING TERM TO MATURITY: 206
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 1997-2
Statement to Certificateholders
Distribution Date: June 15, 1998
PRINCIPAL BALANCE OF LOANS SUBJECT TO PREPAYMENTS AS OF THE CURRENT
DISTRIBUTION DATE: 3,059,942.84
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS AS OF THE CURRENT DISTRIBUTION
DATE: 53
PRINCIPAL CURTAILMENTS ON MORTGAGE LOANS: 20,419.02
PRICIPAL PORTION OF MONTHLY PAYMENTS ON MORTAGAGE LOANS: 88,852.53
FIXED RATE PRINCIPAL REMITTANCE AMOUNT COMPONENTS:
SCHEDULED PRICIPAL PAYMENTS 58,374.99
CURTAILMENTS 10,543.76
PREPAYMENTS 1,183,920.99
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-1 PORTION 0.00
PRIOR FIXED RATE CARRY FORWARD AMOUNT 0.00
PRICIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRICIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
FIXED RATE PRICIPAL REMITTANCE AMOUNT: 1,252,839.74
VARIABLE RATE PRINCIPAL REMTTANCE AMOUNT COMPONENTS:
SCHEDULED PRINCIPAL PAYMENTS 30,477.54
CURTAILMENTS 9,875.26
PREPAYMENTS 1,876,021.85
INSURANCE PROCEEDS 0.00
RELEASED MORTGAGE PROPERTY PROCEEDS 0.00
NET LIQUIDATION PROCEEDS 0.00
UNRECOVERED CLASS A-2 PORTION 0.00
PRIOR CLASS A-2 CARRY FORWARD AMOUNT 0.00
PRINCIPAL PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
PRINCIPAL SUBSTITUTION ADJUSTMENT AMOUNT 0.00
VARIABLE RATE PRICIPAL REMITTANCE AMOUNT: 1,916,374.65
TOTAL AMOUNT OF INTEREST RECEIVED ON MORTGAGE LOANS: 471,736.56
AMOUNT OF FIXED RATE INSURED PAYMENTS AS OF THE CURRENT DISTRIBUTION DATE:0.00
AMOUNT OF VARIABLE RATE INSURED PAYMENTS AS OF THE CURRENT DIST. DATE: 0.00
FIXED RATE AVAILABLE REMITTANCE AMT AS OF THE CURRENT DIST. DATE: 1,530,190.37
VARIABLE RATE AVAILABLE
REMITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 2,117,304.68
Page 3 of 6 COPYRIGHT 1998 Bankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement to Certificateholders
Distribution Date: June 15, 1998
GROUP I WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.40%
GROUP II WEIGHTED AVERAGE MORTGAGE INTEREST RATE: 9.27%
CLASS A-1 INTEREST REMITTANCE AMOUNT COMPONENTS:
SCHEDULED INTEREST PAYMENTS 206,344.66
LESS: CLASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
FIXED RATE INTEREST REMITTANCE AMOUNT: 206,344.66
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 134,219.95
LESS: A-2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
VARIABLE RATE INTEREST REMITTANCE AMOUNT: 134,219.95
CLASS A-2 MORTGAGE LOAN INTEREST SHORTFALL COMPONENTS:
AMOUNT OF PREPAYMENT INTEREST SHORTFALL 0.00
AMOUNT OF CIVIL RELIEF ACT SHORTFALL 0.00
GROUP II 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 1997-2
Statement to Certificateholders
Distribution Date: June 15, 1998
AMOUNT TRANSFERRED FROM THE
SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 10,393.95
SIMPLE INTEREST EXCESS SUB-ACCOUNT BEGINNING BALANCE: 0.00
NET SIMPLE INTEREST EXCESS DEPOSITED IN SIMPLE INT. EXCESS SUB-ACCT. 0.00
NET SIMPLE INEREST SHORTFALL WITHDRAWN FROM SIMPLE INT. SUB-ACCT. 10,393.95
LESS: ANNUAL WITHDRAWAL OF 90% OF BALANCE - P&S SECTION 6.02 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: 579,363.65
ADD'L NET SIMPLE INTEREST SHORTFALL WITHDRAWAL (10,393.95)
AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 130,732.99
GAIN / (LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUNT 896.82
TOTAL AMOUNT DEPOSITED IN THE SPREAD ACCOUNT 121,235.86
TOTAL AMOUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
SPREAD ACCOUNT ENDING BALANCE: 700,599.51
EXCESS SPREAD PERCENTAGE: 100.00%
AMOUNT OF EXCESS SPREAD: 130,732.99
AMOUNT OF MONTHLY EXCESS SPREAD: 130,732.99
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
SUMMARY OF REALIZED LOSSED:
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 1997-2
Statement to Certificateholders
Distribution Date: June 15, 1998
COMPONENTS OF REIMBURSEMENTS TO THE SERVICER FROM THE CERTIFICATE ACCOUNT
PURSUANT TO:
SECTION 3.03 (ii) ACCRUED & UNPAID SERVICING FEES & ADVANCES 0.000
SECTION 3.03 (iv) INTEREST EARNED ON SPREAD ACCOUNT DUE SERVICER 0.000
SECTION 3.03 (v) AMOUNTS DEPOSITED IN CERTIFICATE ACCOUNT IN ERROR 0.000
SECTION 3.03 (vii) REO CONSERVATION & DISPOSITION AMOUNTS DUE SERVICER 0.000
SECTION 3.03 (viii) REIMBURSEMENT OF NONRECOVERABLE ADVANCES 0.000
TOTAL AMOUNT OF REIMBURSEMENTS TO THE SERVICER: 0.00
AMOUNT ON DEPOSIT IN THE PRE-FUNDING
ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT ON DEPOSIT IN THE CAPITALIZED
INTEREST ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
AMOUNT DUE THE SELLER PURSUANT TO
SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
Page 6 of 6 COPYRIGHT 1998 Bankers Trust Company
JUNE