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Previous: LEHMAN HOME EQUITY LAON TRUST 1997-1, 8-K, 1998-12-10 |
Next: DREYFUS RETIREMENT INCOME FUND, 497, 1998-12-10 |
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): July 15,
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
July 15, 1998.
Monthly Report to Certificateholders as to distributions made on
August 17, 1998.
Monthly Report to Certificateholders as to distributions made on
September 15, 1998.
Monthly Report to Certificateholders as to distributions made on
October 15, 1998.
Monthly Report to Certificateholders as to distributions made on
November 16, 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: December 10, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
Monthly Remittance Statement to the Certificateholders
dated as of July 15, 1998.
Monthly Remittance Statement to the Certificateholders
dated as of August 17, 1998.
Monthly Remittance Statement to the Certificateholders
dated as of September 15, 1998.
Monthly Remittance Statement to the Certificateholders
dated as of October 15, 1998.
Monthly Remittance Statement to the Certificateholders
dated as of November 16, 1998.
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 39,000,000.00 34,737,509.04 199,161.71 1,054,898.41 1,
>254,060.12 0.00 0.00 33,682,610.63
A-2 30,000,000.00 24,518,788.52 120,474.08 1,689,049.68 1,
>809,523.76 0.00 0.00 22,829,738.84
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 69,000,000.00 59,256,297.56 319,635.79 2,743,948.09 3,
>063,583.88 0.00 0.00 56,512,349.47
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-1 525180BF1 890.705360 5.106711 27.048677
> 32.155388 863.656683 6.880000% 6.880000%
A-2 525180BG9 817.292951 4.015803 56.301656
> 60.317459 760.991295 5.896250% 5.896250%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B. ADMI
>NISTRATOR: Jake Steen
SERVICER: Home Loan and Investment Bank, F.S.B.
> Bankers Trust Company
LEAD UNDERWRITER: Lehman ABS Corporation
> 3 Park Plaza
RECORD DATE: June 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: July 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 Certific
>ateholders
> Distribution Date:
> July 15, 1998
> ACCRUED SERVICING FEE C
>OLLECTED: 6,590.32
> PERMITTED REDUCTIONS TO
> SERVICING FEES: 0.00
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 6,590.32
>
> AMOUNT OF MONTHLY ADVAN
>CES: 8,923.05
>
> AMOUNT OF COMPENSATING
>INTEREST: 0.00
>
> AMOUNT DUE THE CERTIFIC
>ATE INSURER: 6,623.76
>
> DELINQUENT LOAN
> TOTAL TOTAL
>
> INFORMATION:
> 30 TO 59 60 TO 89 90 AND OVER LOANS IN LOANS IN
>
> (INCLUDING LOANS IN FOR
>ECLOSURE) DAYS DAYS DAYS FORECLOSURE REO
> GROUP 1 PRINCIP
>AL BALANCE 33,547.53 0.00 56,128.06 0.00 56,128.06
>
> PERCENTAGE OF ENDING PO
>OL BALANCE 0.0996% 0.0000% 0.1666% 0.0000% 0.1666%
>
> NUMBER OF LOANS
> 1 0 1 0 1
>
> PERCENTAGE OF LOANS REM
>AINING 0.1656% 0.0000% 0.1656% 0.0000% 0.1656%
>
> GROUP 2 PRINCIP
>AL BALANCE 0.00 62,847.95 0.00 0.00 0.00
>
> PERCENTAGE OF ENDING PO
>OL BALANCE 0.0000% 0.2753% 0.0000% 0.0000% 0.0000%
>
> NUMBER OF LOANS
> 0 1 0 0 0
>
> PERCENTAGE OF LOANS REM
>AINING 0.0000% 0.2717% 0.0000% 0.0000% 0.0000%
>
> BOOK VALUE OF REO PROPE
>RTY: 0.00
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN GROUP I: 34,737,509.04
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN GROUP I: 33,682,610.63
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN GROUP II: 24,518,788.52
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN GROUP II: 22,829,738.84
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN POOL: 68,988,650.34
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN POOL: 59,256,297.56
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN POOL: 56,512,349.47
>
> NUMBER OF LOANS IN GROU
>P I AT THE BEGINNING OF THE RELATED DUE PERIOD: 626
>
> NUMBER OF LOANS IN GROU
>P I AT THE END OF THE RELATED DUE PERIOD: 604
>
> NUMBER OF LOANS IN GROU
>P II AT THE BEGINNING OF THE RELATED DUE PERIOD: 399
>
> NUMBER OF LOANS IN GROU
>P II AT THE END OF THE RELATED DUE PERIOD: 368
>
> TOTAL NUMBER OF LOANS A
>T THE BEGINNING OF THE RELATED DUE PERIOD: 1,025
>
> TOTAL NUMBER OF LOANS A
>T THE END OF THE RELATED DUE PERIOD: 972
>
> GROUP I WEIGHTED AVERAG
>E REMAINING TERM TO MATURITY: 205
>
> GROUP II WEIGHTED AVERA
>GE REMAINING TERM TO MATURITY: 276
>
>
> Page 2 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> July 15, 1998
> PRINCIPAL BALANCE OF LO
>ANS SUBJECT TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 2,632,170.0
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 53
>
> PRINCIPAL CURTAILMENTS
>ON MORTGAGE LOANS: 33,696.22
>
> PRINCIPAL PORTION OF MO
>NTHLY PAYMENTS ON MORTGAGE LOANS: 78,081.81
>
> FIXED RATE PRINCIPAL RE
>MITTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D PRINCIPAL PAYMENTS 52,774.18
> CURTAILM
>ENTS 20,052.29
> PREPAYME
>NTS 982,071.94
> INSURANC
>E PROCEEDS 0.00
> RELEASED
> MORTGAGE PROPERTY PROCEEDS 0.00
> NET LIQU
>IDATION PROCEEDS 0.00
> UNRECOVE
>RED CLASS A-1 PORTION 0.00
> PRIOR FI
>XED RATE CARRY FORWARD AMOUNT 0.00
> PRINCIPA
>L PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
> PRINCIPA
>L SUBSTITUTION ADJUSTMENT AMOUNT 0.00
> FIXED RATE PRINCIPAL RE
>MITTANCE AMOUNT: 1,054,898.4
>
> VARIABLE RATE PRINCIPAL
> REMITTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D PRINCIPAL PAYMENTS 25,307.63
> CURTAILM
>ENTS 13,643.93
> PREPAYME
>NTS 1,650,098.12
> INSURANC
>E PROCEEDS 0.00
> RELEASED
> MORTGAGE PROPERTY PROCEEDS 0.00
> NET LIQU
>IDATION PROCEEDS 0.00
> UNRECOVE
>RED CLASS A-2 PORTION 0.00
> PRIOR CL
>ASS A-2 CARRY FORWARD AMOUNT 0.00
> PRINCIPA
>L PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
> PRINCIPA
>L SUBSTITUTION ADJUSTMENT AMOUNT 0.00
> VARIABLE RATE PRINCIPAL
> REMITTANCE AMOUNT: 1,689,049.6
>
> TOTAL AMOUNT OF INTERES
>T RECEIVED ON MORTGAGE LOANS: 486,122.63
>
> AMOUNT OF FIXED RATE IN
>SURED 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 RE
>MITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,329,050.0
>
> VARIABLE RATE AVAILABLE
> REMITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,884,522.0
>
>
> Page 3 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> July 15, 1998
> GROUP I WEIGHTED AVERAG
>E MORTGAGE INTEREST RATE: 9.40%
>
> GROUP II WEIGHTED AVERA
>GE MORTGAGE INTEREST RATE: 9.56%
>
> CLASS A-1 INTEREST REMI
>TTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D INTEREST PAYMENTS 199,161.71
> LESS: CL
>ASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
> FIXED RATE INTEREST REM
>ITTANCE AMOUNT: 199,161.71
>
> CLASS A-1 MORTGAGE LOAN
> INTEREST SHORTFALL COMPONENTS:
> AMOUNT O
>F PREPAYMENT INTEREST SHORTFALL 0.00
> AMOUNT O
>F CIVIL RELIEF ACT SHORTFALL 0.00
> GROUP I MORTGAGE LOAN I
>NTEREST SHORTFALL AMOUNT: 0.00
>
> CLASS A-2 INTEREST REMI
>TTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D INTEREST PAYMENTS 120,474.08
> LESS: A-
>2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
> VARIABLE RATE INTEREST
>REMITTANCE AMOUNT: 120,474.08
>
> CLASS A-2 MORTGAGE LOAN
> INTEREST SHORTFALL COMPONENTS:
> AMOUNT O
>F PREPAYMENT INTEREST SHORTFALL 0.00
> AMOUNT O
>F CIVIL RELIEF ACT SHORTFALL 0.00
> GROUP II MORTGAGE LOAN
>INTEREST SHORTFALL AMOUNT: 0.00
>
> REIMBURSEMENTS TO THE S
>ERVICER OR SELLER TO THE EXTENT OF REIMBURSABLE AMOUNTS: 0.00
>
> REIMBURSEMENTS TO THE S
>ERVICER OR SELLER TO THE EXTENT OF NONRECOVERABLE ADVANCES: 0.00
>
>
> Page 4 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> 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: 0.00
>
> NET SIMP
>LE INTEREST EXCESS DEPOSITED IN SIMPLE INTEREST EXCESS S 11,018.46
> NET SIMP
>LE INTEREST SHORTFALL WITHDRAWN FROM SIMPLE INTEREST SUB 0.00
> LESS: A
>NNUAL WITHDRAWAL OF 90% OF BALANCE - P&S SECTION 6.02 0.00
> SIMPLE INTEREST EXCESS
>SUB-ACCOUNT ENDING BALANCE: 11,018.46
>
> AMOUNT TRANSFERRED FROM
> THE SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
>
> SPREAD ACCOUNT BEGINNIN
>G BALANCE: 700,599.51
>
> ADD'L NE
>T SIMPLE INTEREST SHORTFALL WITHDRAWAL 0.00
> AMOUNT O
>F MONTHLY EXCESS SPREAD DEPOSITED 143,364.37
> GAIN / (
>LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUN 2,066.45
> TOTAL AM
>OUNT DEPOSITED IN THE SPREAD ACCOUNT 145,430.82
> TOTAL AM
>OUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
> SPREAD ACCOUNT ENDING B
>ALANCE: 846,030.33
>
> EXCESS SPREAD PERCENTAG
>E: 100.00%
>
> AMOUNT OF EXCESS SPREAD
>: 143,364.37
>
> AMOUNT OF MONTHLY EXCES
>S SPREAD: 143,364.37
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
>
> SUMMARY OF REALIZED LOS
>SES:
> CURRENT
>GROUP I REALIZED LOSSES: 0.00
>
> CUMULATI
>VE GROUP I REALIZED LOSSES: 0.00
>
> CUMULATI
>VE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
>
> CURRENT
>GROUP II REALIZED LOSSES: 0.00
>
> CUMULATI
>VE GROUP II REALIZED LOSSES: 0.00
>
> CUMULATI
>VE REALIZED LOSSES ON THE VARIABLE RATE CERTIFICATES: 0.00
>
>
> Page 5 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> July 15, 1998
> COMPONENTS OF REIMBURSE
>MENTS 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 SERVICE 0.00
> SECTION
>3.03 (v) AMOUNTS DEPOSITED IN CERTIFICATE ACCOUNT IN ER 0.00
> SECTION
>3.03 (vii) REO CONSERVATION & DISPOSITION AMOUNTS DUE S 0.00
> SECTION
>3.03 (viii) REIMBURSEMENT OF NONRECOVERABLE ADVANCES 0.00
> TOTAL AMOUNT OF REIMBUR
>SEMENTS TO THE SERVICER: 0.00
>
> AMOUNT ON DEPOSIT IN TH
>E PRE-FUNDING ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
>
> AMOUNT ON DEPOSIT IN TH
>E CAPITALIZED INTEREST ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
>
> AMOUNT DUE THE SELLER P
>URSUANT TO SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
>
> GAINS / (LOSSES) TO MON
>THLY EXCESS SPREAD ACCOUNT DEPOSIT BY GROUPS
> CURRENT
>GROUP I AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 71,226.65
>
> CURRENT
>GROUP II AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 72,137.72
>
>
> Page 6 of 6 COPYRIGHT 1998 B
>
ankers Trust Company
ankers Trust Company
ankers Trust Company
ankers Trust Company
ankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 39,000,000.00 33,682,610.63 193,113.63 1,200,074.92 1,
>393,188.55 0.00 0.00 32,482,535.71
A-2 30,000,000.00 22,829,738.84 123,392.36 1,444,697.83 1,
>568,090.19 0.00 0.00 21,385,041.01
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 69,000,000.00 56,512,349.47 316,505.99 2,644,772.75 2,
>961,278.74 0.00 0.00 53,867,576.72
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-1 525180BF1 863.656683 4.951632 30.771152
> 35.722783 832.885531 6.880000% 6.880000%
A-2 525180BG9 760.991295 4.113079 48.156594
> 52.269673 712.834700 5.896250% 5.880630%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B. ADMI
>NISTRATOR: Jake Steen
SERVICER: Home Loan and Investment Bank, F.S.B.
> Bankers Trust Company
LEAD UNDERWRITER: Lehman ABS Corporation
> 3 Park Plaza
RECORD DATE: July 31, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: August 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 Certific
>ateholders
> Distribution Date:
> August 17, 1998
> ACCRUED SERVICING FEE C
>OLLECTED: 5,350.64
> PERMITTED REDUCTIONS TO
> SERVICING FEES: (3,570.43)
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 1,780.21
>
> AMOUNT OF MONTHLY ADVAN
>CES: 12,360.54
>
> AMOUNT OF COMPENSATING
>INTEREST: 3,570.43
>
> AMOUNT DUE THE CERTIFIC
>ATE INSURER: 6,312.42
>
> DELINQUENT LOAN
> TOTAL TOTAL
>
> INFORMATION:
> 30 TO 59 60 TO 89 90 AND OVER LOANS IN LOANS IN
>
> (INCLUDING LOANS IN FOR
>ECLOSURE) DAYS DAYS DAYS FORECLOSURE REO
> GROUP 1 PRINCIP
>AL BALANCE 33,547.53 0.00 56,128.06 0.00 56,128.06
>
> PERCENTAGE OF ENDING PO
>OL BALANCE 0.1033% 0.0000% 0.1728% 0.0000% 0.1728%
>
> NUMBER OF LOANS
> 1 0 1 0 1
>
> PERCENTAGE OF LOANS REM
>AINING 0.1712% 0.0000% 0.1712% 0.0000% 0.1712%
>
> GROUP 2 PRINCIP
>AL BALANCE 174,552.43 0.00 62,847.95 0.00 0.00
>
> PERCENTAGE OF ENDING PO
>OL BALANCE 0.8162% 0.0000% 0.2939% 0.0000% 0.0000%
>
> NUMBER OF LOANS
> 2 0 1 0 0
>
> PERCENTAGE OF LOANS REM
>AINING 0.5780% 0.0000% 0.2890% 0.0000% 0.0000%
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN GROUP I: 33,682,610.63
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN GROUP I: 32,482,535.71
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN GROUP II: 22,829,738.84
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN GROUP II: 21,385,041.01
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN POOL: 68,988,650.34
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN POOL: 56,512,349.47
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN POOL: 53,867,576.72
>
> NUMBER OF LOANS IN GROU
>P I AT THE BEGINNING OF THE RELATED DUE PERIOD: 604
>
> NUMBER OF LOANS IN GROU
>P I AT THE END OF THE RELATED DUE PERIOD: 584
>
> NUMBER OF LOANS IN GROU
>P II AT THE BEGINNING OF THE RELATED DUE PERIOD: 368
>
> NUMBER OF LOANS IN GROU
>P II AT THE END OF THE RELATED DUE PERIOD: 346
>
> TOTAL NUMBER OF LOANS A
>T THE BEGINNING OF THE RELATED DUE PERIOD: 972
>
> TOTAL NUMBER OF LOANS A
>T THE END OF THE RELATED DUE PERIOD: 930
>
> GROUP I WEIGHTED AVERAG
>E REMAINING TERM TO MATURITY: 205
>
> GROUP II WEIGHTED AVERA
>GE REMAINING TERM TO MATURITY: 275
>
>
> Page 2 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> August 17, 1998
> PRINCIPAL BALANCE OF LO
>ANS SUBJECT TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 2,537,940.8
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 42
>
> PRINCIPAL CURTAILMENTS
>ON MORTGAGE LOANS: 25,423.57
>
> PRINCIPAL PORTION OF MO
>NTHLY PAYMENTS ON MORTGAGE LOANS: 81,408.29
>
> FIXED RATE PRINCIPAL RE
>MITTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D PRINCIPAL PAYMENTS 55,817.78
> CURTAILM
>ENTS 15,711.78
> PREPAYME
>NTS 1,128,545.36
> INSURANC
>E PROCEEDS 0.00
> RELEASED
> MORTGAGE PROPERTY PROCEEDS 0.00
> NET LIQU
>IDATION PROCEEDS 0.00
> UNRECOVE
>RED CLASS A-1 PORTION 0.00
> PRIOR FI
>XED RATE CARRY FORWARD AMOUNT 0.00
> PRINCIPA
>L PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
> PRINCIPA
>L SUBSTITUTION ADJUSTMENT AMOUNT 0.00
> FIXED RATE PRINCIPAL RE
>MITTANCE AMOUNT: 1,200,074.9
>
> VARIABLE RATE PRINCIPAL
> REMITTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D PRINCIPAL PAYMENTS 25,590.51
> CURTAILM
>ENTS 9,711.79
> PREPAYME
>NTS 1,409,395.53
> INSURANC
>E PROCEEDS 0.00
> RELEASED
> MORTGAGE PROPERTY PROCEEDS 0.00
> NET LIQU
>IDATION PROCEEDS 0.00
> UNRECOVE
>RED CLASS A-2 PORTION 0.00
> PRIOR CL
>ASS A-2 CARRY FORWARD AMOUNT 0.00
> PRINCIPA
>L PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
> PRINCIPA
>L SUBSTITUTION ADJUSTMENT AMOUNT 0.00
> VARIABLE RATE PRINCIPAL
> REMITTANCE AMOUNT: 1,444,697.8
>
> TOTAL AMOUNT OF INTERES
>T RECEIVED ON MORTGAGE LOANS: 454,499.01
>
> AMOUNT OF FIXED RATE IN
>SURED 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 RE
>MITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,459,664.1
>
> VARIABLE RATE AVAILABLE
> REMITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,629,311.0
>
>
> Page 3 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> August 17, 1998
> GROUP I WEIGHTED AVERAG
>E MORTGAGE INTEREST RATE: 9.40%
>
> GROUP II WEIGHTED AVERA
>GE MORTGAGE INTEREST RATE: 9.82%
>
> CLASS A-1 INTEREST REMI
>TTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D INTEREST PAYMENTS 193,113.63
> LESS: CL
>ASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
> FIXED RATE INTEREST REM
>ITTANCE AMOUNT: 193,113.63
>
> CLASS A-1 MORTGAGE LOAN
> INTEREST SHORTFALL COMPONENTS:
> AMOUNT O
>F PREPAYMENT INTEREST SHORTFALL 0.00
> AMOUNT O
>F CIVIL RELIEF ACT SHORTFALL 0.00
> GROUP I MORTGAGE LOAN I
>NTEREST SHORTFALL AMOUNT: 0.00
>
> CLASS A-2 INTEREST REMI
>TTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D INTEREST PAYMENTS 123,392.36
> LESS: A-
>2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
> VARIABLE RATE INTEREST
>REMITTANCE AMOUNT: 123,392.36
>
> CLASS A-2 MORTGAGE LOAN
> INTEREST SHORTFALL COMPONENTS:
> AMOUNT O
>F PREPAYMENT INTEREST SHORTFALL 0.00
> AMOUNT O
>F CIVIL RELIEF ACT SHORTFALL 0.00
> GROUP II MORTGAGE LOAN
>INTEREST SHORTFALL AMOUNT: 0.00
>
> REIMBURSEMENTS TO THE S
>ERVICER OR SELLER TO THE EXTENT OF REIMBURSABLE AMOUNTS: 0.00
>
> REIMBURSEMENTS TO THE S
>ERVICER OR SELLER TO THE EXTENT OF NONRECOVERABLE ADVANCES: 0.00
>
>
> Page 4 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> August 17, 1998
> AMOUNT TRANSFERRED FROM
> THE SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
>
> SIMPLE INTEREST EXCESS
>SUB-ACCOUNT BEGINNING BALANCE: 11,018.46
>
> NET SIMP
>LE INTEREST EXCESS DEPOSITED IN SIMPLE INTEREST EXCESS S 11,953.78
> NET SIMP
>LE INTEREST SHORTFALL WITHDRAWN FROM SIMPLE INTEREST SUB 0.00
> LESS: A
>NNUAL WITHDRAWAL OF 90% OF BALANCE - P&S SECTION 6.02 0.00
> SIMPLE INTEREST EXCESS
>SUB-ACCOUNT ENDING BALANCE: 22,972.24
>
> AMOUNT TRANSFERRED FROM
> THE SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
>
> SPREAD ACCOUNT BEGINNIN
>G BALANCE: 846,030.33
>
> AMOUNT O
>F MONTHLY EXCESS SPREAD DEPOSITED 121,384.10
> GAIN / (
>LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUN 3,775.85
> TOTAL AM
>OUNT DEPOSITED IN THE SPREAD ACCOUNT 125,159.95
> TOTAL AM
>OUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 0.00
> SPREAD ACCOUNT ENDING B
>ALANCE: 971,190.28
>
> EXCESS SPREAD PERCENTAG
>E: 100.00%
>
> AMOUNT OF EXCESS SPREAD
>: 121,384.10
>
> AMOUNT OF MONTHLY EXCES
>S SPREAD: 121,384.10
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
>
> SUMMARY OF REALIZED LOS
>SES:
> CURRENT
>GROUP I REALIZED LOSSES: 0.00
>
> CUMULATI
>VE GROUP I REALIZED LOSSES: 0.00
>
> CUMULATI
>VE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
>
> CURRENT
>GROUP II REALIZED LOSSES: 0.00
>
> CUMULATI
>VE GROUP II REALIZED LOSSES: 0.00
>
> CUMULATI
>VE REALIZED LOSSES ON THE VARIABLE RATE CERTIFICATES: 0.00
>
>
> Page 5 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> August 17, 1998
> COMPONENTS OF REIMBURSE
>MENTS 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 SERVICE 0.00
> SECTION
>3.03 (v) AMOUNTS DEPOSITED IN CERTIFICATE ACCOUNT IN ER 0.00
> SECTION
>3.03 (vii) REO CONSERVATION & DISPOSITION AMOUNTS DUE S 0.00
> SECTION
>3.03 (viii) REIMBURSEMENT OF NONRECOVERABLE ADVANCES 0.00
> TOTAL AMOUNT OF REIMBUR
>SEMENTS TO THE SERVICER: 0.00
>
> AMOUNT ON DEPOSIT IN TH
>E PRE-FUNDING ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
>
> AMOUNT ON DEPOSIT IN TH
>E CAPITALIZED INTEREST ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
>
> AMOUNT DUE THE SELLER P
>URSUANT TO SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
>
> GAINS / (LOSSES) TO MON
>THLY EXCESS SPREAD ACCOUNT DEPOSIT BY GROUPS
> CURRENT
>GROUP I AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 62,826.68
>
> CURRENT
>GROUP II AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 58,557.42
>
>
> Page 6 of 6 COPYRIGHT 1998 B
>
ankers Trust Company
ankers Trust Company
ankers Trust Company
ankers Trust Company
ankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 39,000,000.00 32,482,535.71 186,233.20 587,854.24
>774,087.44 0.00 0.00 31,894,681.47
A-2 30,000,000.00 21,385,041.01 101,304.66 1,085,515.38 1,
>186,820.04 0.00 0.00 20,299,525.63
R 0.00 0.00 23,312.44 0.00
> 23,312.44 0.00 0.00 0.00
TOTALS 69,000,000.00 53,867,576.72 310,850.30 1,673,369.62 1,
>984,219.92 0.00 0.00 52,194,207.10
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-1 525180BF1 832.885531 4.775210 15.073186
> 19.848396 817.812345 6.880000% 6.880000%
A-2 525180BG9 712.834700 3.376822 36.183846
> 39.560668 676.650854 5.880630% 5.880630%
R 0.000000 0.337861 0.000000
> 0.337861 0.000000 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B. ADMI
>NISTRATOR: Jake Steen
SERVICER: Home Loan and Investment Bank, F.S.B.
> Bankers Trust Company
LEAD UNDERWRITER: Lehman ABS Corporation
> 3 Park Plaza
RECORD DATE: August 31, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: September 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 Certific
>ateholders
> Distribution Date:
> September 15, 1998
> ACCRUED SERVICING FEE C
>OLLECTED: 5,068.56
> PERMITTED REDUCTIONS TO
> SERVICING FEES: (2,110.20)
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 2,958.36
>
> AMOUNT OF MONTHLY ADVAN
>CES: 17,750.41
>
> AMOUNT OF COMPENSATING
>INTEREST: 2,110.20
>
> AMOUNT DUE THE CERTIFIC
>ATE INSURER: 6,013.86
>
> DELINQUENT LOAN
> TOTAL TOTAL
>
> INFORMATION:
> 30 TO 59 60 TO 89 90 AND OVER LOANS IN LOANS IN
>
> (INCLUDING LOANS IN FOR
>ECLOSURE) DAYS DAYS DAYS FORECLOSURE REO
> GROUP 1 PRINCIP
>AL BALANCE 33,547.53 0.00 56,128.06 0.00 56,128.06
>
> PERCENTAGE OF ENDING PO
>OL BALANCE 0.1052% 0.0000% 0.1760% 0.0000% 0.1760%
>
> NUMBER OF LOANS
> 1 0 1 0 1
>
> PERCENTAGE OF LOANS REM
>AINING 0.1748% 0.0000% 0.1748% 0.0000% 0.1748%
>
> GROUP 2 PRINCIP
>AL BALANCE 66,260.00 174,552.43 62,847.95 62,847.95 0.00
>
> PERCENTAGE OF ENDING PO
>OL BALANCE 0.3264% 0.8599% 0.3096% 0.1970% 0.0000%
>
> NUMBER OF LOANS
> 1 2 1 1 0
>
> PERCENTAGE OF LOANS REM
>AINING 0.3040% 0.6079% 0.3040% 0.1748% 0.0000%
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN GROUP I: 32,482,535.71
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN GROUP I: 31,894,681.47
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN GROUP II: 21,385,041.01
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN GROUP II: 20,299,525.63
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN POOL: 68,988,650.34
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN POOL: 53,867,576.72
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN POOL: 52,194,207.10
>
> NUMBER OF LOANS IN GROU
>P I AT THE BEGINNING OF THE RELATED DUE PERIOD: 584
>
> NUMBER OF LOANS IN GROU
>P I AT THE END OF THE RELATED DUE PERIOD: 572
>
> NUMBER OF LOANS IN GROU
>P II AT THE BEGINNING OF THE RELATED DUE PERIOD: 346
>
> NUMBER OF LOANS IN GROU
>P II AT THE END OF THE RELATED DUE PERIOD: 329
>
> TOTAL NUMBER OF LOANS A
>T THE BEGINNING OF THE RELATED DUE PERIOD: 930
>
> TOTAL NUMBER OF LOANS A
>T THE END OF THE RELATED DUE PERIOD: 901
>
> GROUP I WEIGHTED AVERAG
>E REMAINING TERM TO MATURITY: 204
>
> GROUP II WEIGHTED AVERA
>GE REMAINING TERM TO MATURITY: 274
>
>
> Page 2 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> September 15, 1998
> PRINCIPAL BALANCE OF LO
>ANS SUBJECT TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 1,574,155.2
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 29
>
> PRINCIPAL CURTAILMENTS
>ON MORTGAGE LOANS: 30,407.94
>
> PRINCIPAL PORTION OF MO
>NTHLY PAYMENTS ON MORTGAGE LOANS: 68,806.46
>
> FIXED RATE PRINCIPAL RE
>MITTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D PRINCIPAL PAYMENTS 47,402.30
> CURTAILM
>ENTS 21,485.14
> PREPAYME
>NTS 518,966.80
> INSURANC
>E PROCEEDS 0.00
> RELEASED
> MORTGAGE PROPERTY PROCEEDS 0.00
> NET LIQU
>IDATION PROCEEDS 0.00
> UNRECOVE
>RED CLASS A-1 PORTION 0.00
> PRIOR FI
>XED RATE CARRY FORWARD AMOUNT 0.00
> PRINCIPA
>L PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
> PRINCIPA
>L SUBSTITUTION ADJUSTMENT AMOUNT 0.00
> FIXED RATE PRINCIPAL RE
>MITTANCE AMOUNT: 587,854.24
>
> VARIABLE RATE PRINCIPAL
> REMITTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D PRINCIPAL PAYMENTS 21,404.16
> CURTAILM
>ENTS 8,922.80
> PREPAYME
>NTS 1,055,188.42
> INSURANC
>E PROCEEDS 0.00
> RELEASED
> MORTGAGE PROPERTY PROCEEDS 0.00
> NET LIQU
>IDATION PROCEEDS 0.00
> UNRECOVE
>RED CLASS A-2 PORTION 0.00
> PRIOR CL
>ASS A-2 CARRY FORWARD AMOUNT 0.00
> PRINCIPA
>L PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
> PRINCIPA
>L SUBSTITUTION ADJUSTMENT AMOUNT 0.00
> VARIABLE RATE PRINCIPAL
> REMITTANCE AMOUNT: 1,085,515.3
>
> TOTAL AMOUNT OF INTERES
>T RECEIVED ON MORTGAGE LOANS: 426,746.92
>
> AMOUNT OF FIXED RATE IN
>SURED 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 RE
>MITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 845,872.43
>
> VARIABLE RATE AVAILABLE
> REMITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,265,763.9
>
>
> Page 3 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> September 15, 1998
> GROUP I WEIGHTED AVERAG
>E MORTGAGE INTEREST RATE: 9.39%
>
> GROUP II WEIGHTED AVERA
>GE MORTGAGE INTEREST RATE: 10.02%
>
> CLASS A-1 INTEREST REMI
>TTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D INTEREST PAYMENTS 186,233.20
> LESS: CL
>ASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
> FIXED RATE INTEREST REM
>ITTANCE AMOUNT: 186,233.20
>
> CLASS A-1 MORTGAGE LOAN
> INTEREST SHORTFALL COMPONENTS:
> AMOUNT O
>F PREPAYMENT INTEREST SHORTFALL 0.00
> AMOUNT O
>F CIVIL RELIEF ACT SHORTFALL 0.00
> GROUP I MORTGAGE LOAN I
>NTEREST SHORTFALL AMOUNT: 0.00
>
> CLASS A-2 INTEREST REMI
>TTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D INTEREST PAYMENTS 101,304.66
> LESS: A-
>2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
> VARIABLE RATE INTEREST
>REMITTANCE AMOUNT: 101,304.66
>
> CLASS A-2 MORTGAGE LOAN
> INTEREST SHORTFALL COMPONENTS:
> AMOUNT O
>F PREPAYMENT INTEREST SHORTFALL 0.00
> AMOUNT O
>F CIVIL RELIEF ACT SHORTFALL 0.00
> GROUP II MORTGAGE LOAN
>INTEREST SHORTFALL AMOUNT: 0.00
>
> REIMBURSEMENTS TO THE S
>ERVICER OR SELLER TO THE EXTENT OF REIMBURSABLE AMOUNTS: 0.00
>
> REIMBURSEMENTS TO THE S
>ERVICER OR SELLER TO THE EXTENT OF NONRECOVERABLE ADVANCES: 0.00
>
>
> Page 4 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> September 15, 1998
> AMOUNT TRANSFERRED FROM
> THE SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 9,088.32
>
> SIMPLE INTEREST EXCESS
>SUB-ACCOUNT BEGINNING BALANCE: 22,972.24
>
> NET SIMP
>LE INTEREST EXCESS DEPOSITED IN SIMPLE INTEREST EXCESS S 0.00
> NET SIMP
>LE INTEREST SHORTFALL WITHDRAWN FROM SIMPLE INTEREST SUB 6,978.73
> LESS: A
>NNUAL WITHDRAWAL OF 90% OF BALANCE - P&S SECTION 6.02 0.00
> SIMPLE INTEREST EXCESS
>SUB-ACCOUNT ENDING BALANCE: 15,993.51
>
> AMOUNT TRANSFERRED FROM
> THE SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 23,312.44
>
> SPREAD ACCOUNT BEGINNIN
>G BALANCE: 971,190.28
>
> AMOUNT O
>F MONTHLY EXCESS SPREAD DEPOSITED 144,715.03
> GAIN / (
>LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUN 4,345.59
> TOTAL AM
>OUNT DEPOSITED IN THE SPREAD ACCOUNT 149,060.62
> TOTAL AM
>OUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 23,312.44
> SPREAD ACCOUNT ENDING B
>ALANCE: 1,094,828.8
>
> EXCESS SPREAD PERCENTAG
>E: 100.00%
>
> AMOUNT OF EXCESS SPREAD
>: 144,715.03
>
> AMOUNT OF MONTHLY EXCES
>S SPREAD: 144,715.03
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
>
> SUMMARY OF REALIZED LOS
>SES:
> CURRENT
>GROUP I REALIZED LOSSES: 0.00
>
> CUMULATI
>VE GROUP I REALIZED LOSSES: 0.00
>
> CUMULATI
>VE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
>
> CURRENT
>GROUP II REALIZED LOSSES: 0.00
>
> CUMULATI
>VE GROUP II REALIZED LOSSES: 0.00
>
> CUMULATI
>VE REALIZED LOSSES ON THE VARIABLE RATE CERTIFICATES: 0.00
>
>
> Page 5 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> September 15, 1998
> COMPONENTS OF REIMBURSE
>MENTS 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 SERVICE 0.00
> SECTION
>3.03 (v) AMOUNTS DEPOSITED IN CERTIFICATE ACCOUNT IN ER 0.00
> SECTION
>3.03 (vii) REO CONSERVATION & DISPOSITION AMOUNTS DUE S 0.00
> SECTION
>3.03 (viii) REIMBURSEMENT OF NONRECOVERABLE ADVANCES 0.00
> TOTAL AMOUNT OF REIMBUR
>SEMENTS TO THE SERVICER: 0.00
>
> AMOUNT ON DEPOSIT IN TH
>E PRE-FUNDING ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
>
> AMOUNT ON DEPOSIT IN TH
>E CAPITALIZED INTEREST ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
>
> AMOUNT DUE THE SELLER P
>URSUANT TO SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
>
> GAINS / (LOSSES) TO MON
>THLY EXCESS SPREAD ACCOUNT DEPOSIT BY GROUPS
> CURRENT
>GROUP I AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 68,266.05
>
> CURRENT
>GROUP II AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 76,448.98
>
>
> Page 6 of 6 COPYRIGHT 1998 B
>
ankers Trust Company
ankers Trust Company
ankers Trust Company
ankers Trust Company
ankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 39,000,000.00 31,894,681.47 182,862.84 1,421,432.14 1,
>604,294.98 0.00 0.00 30,473,249.33
A-2 30,000,000.00 20,299,525.63 99,478.33 1,259,153.72 1,
>358,632.05 0.00 0.00 19,040,371.91
R 0.00 0.00 132,589.47 0.00
>132,589.47 0.00 0.00 0.00
TOTALS 69,000,000.00 52,194,207.10 414,930.64 2,680,585.86 3,
>095,516.50 0.00 0.00 49,513,621.24
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-1 525180BF1 817.812345 4.688791 36.446978
> 41.135769 781.365367 6.880000% 6.880000%
A-2 525180BG9 676.650854 3.315944 41.971791
> 45.287735 634.679064 5.880630% 5.648590%
R 0.000000 1.921587 0.000000
> 1.921587 0.000000 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B. ADMI
>NISTRATOR: Jake Steen
SERVICER: Home Loan and Investment Bank, F.S.B.
> Bankers Trust Company
LEAD UNDERWRITER: Lehman ABS Corporation
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: October 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 Certific
>ateholders
> Distribution Date:
> October 15, 1998
> ACCRUED SERVICING FEE C
>OLLECTED: 4,868.01
> PERMITTED REDUCTIONS TO
> SERVICING FEES: (1,074.94)
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 3,793.07
>
> AMOUNT OF MONTHLY ADVAN
>CES: 21,574.33
>
> AMOUNT OF COMPENSATING
>INTEREST: 1,074.94
>
> AMOUNT DUE THE CERTIFIC
>ATE INSURER: 5,823.54
>
> DELINQUENT LOAN
> TOTAL TOTAL
>
> INFORMATION:
> 30 TO 59 60 TO 89 90 AND OVER LOANS IN LOANS IN
>
> (INCLUDING LOANS IN FOR
>ECLOSURE) DAYS DAYS DAYS FORECLOSURE REO
> GROUP 1 PRINCIP
>AL BALANCE 154,541.66 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF ENDING PO
>OL BALANCE 0.5071% 0.0000% 0.0000% 0.0000% 0.0000%
>
> NUMBER OF LOANS
> 4 0 0 0 0
>
> PERCENTAGE OF LOANS REM
>AINING 0.7326% 0.0000% 0.0000% 0.0000% 0.0000%
>
> GROUP 2 PRINCIP
>AL BALANCE 121,804.38 126,203.22 177,457.16 114,609.21 0.00
>
> PERCENTAGE OF ENDING PO
>OL BALANCE 0.6397% 0.6628% 0.9320% 0.3761% 0.0000%
>
> NUMBER OF LOANS
> 2 2 2 1 0
>
> PERCENTAGE OF LOANS REM
>AINING 0.6452% 0.6452% 0.6452% 0.1832% 0.0000%
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN GROUP I: 31,894,681.47
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN GROUP I: 30,473,249.33
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN GROUP II: 20,299,525.63
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN GROUP II: 19,040,371.91
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN POOL: 68,988,650.34
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN POOL: 52,194,207.10
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN POOL: 49,513,621.24
>
> NUMBER OF LOANS IN GROU
>P I AT THE BEGINNING OF THE RELATED DUE PERIOD: 572
>
> NUMBER OF LOANS IN GROU
>P I AT THE END OF THE RELATED DUE PERIOD: 546
>
> NUMBER OF LOANS IN GROU
>P II AT THE BEGINNING OF THE RELATED DUE PERIOD: 329
>
> NUMBER OF LOANS IN GROU
>P II AT THE END OF THE RELATED DUE PERIOD: 310
>
> TOTAL NUMBER OF LOANS A
>T THE BEGINNING OF THE RELATED DUE PERIOD: 901
>
> TOTAL NUMBER OF LOANS A
>T THE END OF THE RELATED DUE PERIOD: 856
>
> GROUP I WEIGHTED AVERAG
>E REMAINING TERM TO MATURITY: 204
>
> GROUP II WEIGHTED AVERA
>GE REMAINING TERM TO MATURITY: 272
>
>
> Page 2 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> October 15, 1998
> PRINCIPAL BALANCE OF LO
>ANS SUBJECT TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 2,535,979.5
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 45
>
> PRINCIPAL CURTAILMENTS
>ON MORTGAGE LOANS: 25,146.40
>
> PRINCIPAL PORTION OF MO
>NTHLY PAYMENTS ON MORTGAGE LOANS: 63,331.90
>
> FIXED RATE PRINCIPAL RE
>MITTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D PRINCIPAL PAYMENTS 45,845.78
> CURTAILM
>ENTS 9,773.59
> PREPAYME
>NTS 1,309,684.71
> INSURANC
>E PROCEEDS 0.00
> RELEASED
> MORTGAGE PROPERTY PROCEEDS 0.00
> NET LIQU
>IDATION PROCEEDS 54,991.74
> UNRECOVE
>RED CLASS A-1 PORTION 1,136.32
> PRIOR FI
>XED RATE CARRY FORWARD AMOUNT 0.00
> PRINCIPA
>L PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
> PRINCIPA
>L SUBSTITUTION ADJUSTMENT AMOUNT 0.00
> FIXED RATE PRINCIPAL RE
>MITTANCE AMOUNT: 1,421,432.1
>
> VARIABLE RATE PRINCIPAL
> REMITTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D PRINCIPAL PAYMENTS 17,486.12
> CURTAILM
>ENTS 15,372.81
> PREPAYME
>NTS 1,226,294.79
> INSURANC
>E PROCEEDS 0.00
> RELEASED
> MORTGAGE PROPERTY PROCEEDS 0.00
> NET LIQU
>IDATION PROCEEDS 0.00
> UNRECOVE
>RED CLASS A-2 PORTION 0.00
> PRIOR CL
>ASS A-2 CARRY FORWARD AMOUNT 0.00
> PRINCIPA
>L PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
> PRINCIPA
>L SUBSTITUTION ADJUSTMENT AMOUNT 0.00
> VARIABLE RATE PRINCIPAL
> REMITTANCE AMOUNT: 1,259,153.7
>
> TOTAL AMOUNT OF INTERES
>T RECEIVED ON MORTGAGE LOANS: 411,143.06
>
> AMOUNT OF FIXED RATE IN
>SURED 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 RE
>MITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,673,537.5
>
> VARIABLE RATE AVAILABLE
> REMITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,432,946.1
>
>
> Page 3 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> October 15, 1998
> GROUP I WEIGHTED AVERAG
>E MORTGAGE INTEREST RATE: 9.39%
>
> GROUP II WEIGHTED AVERA
>GE MORTGAGE INTEREST RATE: 10.21%
>
> CLASS A-1 INTEREST REMI
>TTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D INTEREST PAYMENTS 182,862.84
> LESS: CL
>ASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
> FIXED RATE INTEREST REM
>ITTANCE AMOUNT: 182,862.84
>
> CLASS A-1 MORTGAGE LOAN
> INTEREST SHORTFALL COMPONENTS:
> AMOUNT O
>F PREPAYMENT INTEREST SHORTFALL 0.00
> AMOUNT O
>F CIVIL RELIEF ACT SHORTFALL 0.00
> GROUP I MORTGAGE LOAN I
>NTEREST SHORTFALL AMOUNT: 0.00
>
> CLASS A-2 INTEREST REMI
>TTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D INTEREST PAYMENTS 99,478.33
> LESS: A-
>2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
> VARIABLE RATE INTEREST
>REMITTANCE AMOUNT: 99,478.33
>
> CLASS A-2 MORTGAGE LOAN
> INTEREST SHORTFALL COMPONENTS:
> AMOUNT O
>F PREPAYMENT INTEREST SHORTFALL 0.00
> AMOUNT O
>F CIVIL RELIEF ACT SHORTFALL 0.00
> GROUP II MORTGAGE LOAN
>INTEREST SHORTFALL AMOUNT: 0.00
>
> REIMBURSEMENTS TO THE S
>ERVICER OR SELLER TO THE EXTENT OF REIMBURSABLE AMOUNTS: 0.00
>
> REIMBURSEMENTS TO THE S
>ERVICER OR SELLER TO THE EXTENT OF NONRECOVERABLE ADVANCES: 0.00
>
>
> Page 4 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> October 15, 1998
> AMOUNT TRANSFERRED FROM
> THE SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 11,974.83
>
> AMOUNT TRANSFERRED FROM
> THE SPREAD ACCOUNT TO THE SIMPLE INTEREST ACCOUNT: 9,877.48
>
> SIMPLE INTEREST EXCESS
>SUB-ACCOUNT BEGINNING BALANCE: 15,993.51
>
> NET SIMP
>LE INTEREST EXCESS DEPOSITED IN SIMPLE INTEREST EXCESS S 0.00
> NET SIMP
>LE INTEREST SHORTFALL WITHDRAWN FROM SIMPLE INTEREST SUB 2,097.35
> LESS: A
>NNUAL WITHDRAWAL OF 90% OF BALANCE - P&S SECTION 6.02 0.00
> SIMPLE INTEREST EXCESS
>SUB-ACCOUNT ENDING BALANCE: 13,896.16
>
> AMOUNT TRANSFERRED FROM
> THE SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 132,589.47
>
> SPREAD ACCOUNT BEGINNIN
>G BALANCE: 1,094,828.8
>
> AMOUNT O
>F MONTHLY EXCESS SPREAD DEPOSITED 137,733.07
> GAIN / (
>LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUN 4,733.88
> TOTAL AM
>OUNT DEPOSITED IN THE SPREAD ACCOUNT 142,466.95
> TOTAL AM
>OUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 132,589.47
> SPREAD ACCOUNT ENDING B
>ALANCE: 1,094,828.8
>
> EXCESS SPREAD PERCENTAG
>E: 100.00%
>
> AMOUNT OF EXCESS SPREAD
>: 137,733.07
>
> AMOUNT OF MONTHLY EXCES
>S SPREAD: 137,733.07
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
>
> SUMMARY OF REALIZED LOS
>SES:
> CURRENT
>GROUP I REALIZED LOSSES: 1,136.32
>
> CUMULATI
>VE GROUP I REALIZED LOSSES: 1,136.32
>
> CUMULATI
>VE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
>
> CURRENT
>GROUP II REALIZED LOSSES: 0.00
>
> CUMULATI
>VE GROUP II REALIZED LOSSES: 0.00
>
> CUMULATI
>VE REALIZED LOSSES ON THE VARIABLE RATE CERTIFICATES: 0.00
>
>
> Page 5 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> October 15, 1998
> COMPONENTS OF REIMBURSE
>MENTS 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 SERVICE 0.00
> SECTION
>3.03 (v) AMOUNTS DEPOSITED IN CERTIFICATE ACCOUNT IN ER 0.00
> SECTION
>3.03 (vii) REO CONSERVATION & DISPOSITION AMOUNTS DUE S 0.00
> SECTION
>3.03 (viii) REIMBURSEMENT OF NONRECOVERABLE ADVANCES 0.00
> TOTAL AMOUNT OF REIMBUR
>SEMENTS TO THE SERVICER: 0.00
>
> AMOUNT ON DEPOSIT IN TH
>E PRE-FUNDING ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
>
> AMOUNT ON DEPOSIT IN TH
>E CAPITALIZED INTEREST ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
>
> AMOUNT DUE THE SELLER P
>URSUANT TO SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
>
> GAINS / (LOSSES) TO MON
>THLY EXCESS SPREAD ACCOUNT DEPOSIT BY GROUPS
> CURRENT
>GROUP I AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 65,787.28
>
> CURRENT
>GROUP II AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 71,945.79
>
>
> Page 6 of 6 COPYRIGHT 1998 B
>
ankers Trust Company
ankers Trust Company
ankers Trust Company
ankers Trust Company
ankers Trust Company
Lehman Home Equity Loan Trust
Home Equity Loan Asset-Backed Certificates
Series 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 39,000,000.00 30,473,249.33 174,713.29 1,045,920.40 1,
>220,633.69 0.00 0.00 29,427,328.93
A-2 30,000,000.00 19,040,371.91 95,601.11 1,365,547.85 1,
>461,148.96 0.00 0.00 17,674,824.06
R 0.00 0.00 112,187.95 0.00
>112,187.95 0.00 0.00 0.00
TOTALS 69,000,000.00 49,513,621.24 382,502.35 2,411,468.25 2,
>793,970.60 0.00 0.00 47,102,152.99
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-1 525180BF1 781.365367 4.479828 26.818472
> 31.298300 754.546896 6.880000% 6.880000%
A-2 525180BG9 634.679064 3.186704 45.518262
> 48.704965 589.160802 5.648590% 5.517810%
R 0.000000 1.625912 0.000000
> 1.625912 0.000000 0.000000% 0.000000%
SELLER: Home Loan and Investment Bank, F.S.B. ADMI
>NISTRATOR: Jake Steen
SERVICER: Home Loan and Investment Bank, F.S.B.
> Bankers Trust Company
LEAD UNDERWRITER: Lehman ABS Corporation
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: November 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 Certific
>ateholders
> Distribution Date:
> November 16, 1998
> ACCRUED SERVICING FEE C
>OLLECTED: 20,996.87
> PERMITTED REDUCTIONS TO
> SERVICING FEES: (674.50)
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 20,322.37
>
> AMOUNT OF MONTHLY ADVAN
>CES: 34,520.40
>
> AMOUNT OF COMPENSATING
>INTEREST: 674.50
>
> AMOUNT DUE THE CERTIFIC
>ATE INSURER: 5,522.65
>
> DELINQUENT LOAN
> TOTAL TOTAL
>
> INFORMATION:
> 30 TO 59 60 TO 89 90 AND OVER LOANS IN LOANS IN
>
> (INCLUDING LOANS IN FOR
>ECLOSURE) DAYS DAYS DAYS FORECLOSURE REO
> GROUP 1 PRINCIP
>AL BALANCE 318,715.61 119,888.94 79,111.02 0.00 0.00
>
> PERCENTAGE OF ENDING PO
>OL BALANCE 1.0831% 0.4074% 0.2688% 0.0000% 0.0000%
>
> NUMBER OF LOANS
> 4 3 2 0 0
>
> PERCENTAGE OF LOANS REM
>AINING 0.7561% 0.5671% 0.3781% 0.0000% 0.0000%
>
> GROUP 2 PRINCIP
>AL BALANCE 152,054.51 127,019.99 425,609.73 213,288.07 0.00
>
> PERCENTAGE OF ENDING PO
>OL BALANCE 0.8603% 0.7186% 2.4080% 0.7248% 0.0000%
>
> NUMBER OF LOANS
> 3 2 6 3 0
>
> PERCENTAGE OF LOANS REM
>AINING 1.0453% 0.6969% 2.0906% 0.5671% 0.0000%
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN GROUP I: 38,989,093.94
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN GROUP I: 30,473,249.33
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN GROUP I: 29,427,328.93
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN GROUP II: 29,999,556.40
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN GROUP II: 19,040,371.91
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN GROUP II: 17,674,824.06
>
> ORIGINAL PRINCIPAL BALA
>NCE OF MORTGAGE LOAN POOL: 68,988,650.34
>
> BEGINNING PRINCIPAL BAL
>ANCE OF MORTGAGE LOAN POOL: 49,513,621.24
>
> ENDING PRINCIPAL BALANC
>E OF MORTGAGE LOAN POOL: 47,102,152.99
>
> NUMBER OF LOANS IN GROU
>P I AT THE BEGINNING OF THE RELATED DUE PERIOD: 546
>
> NUMBER OF LOANS IN GROU
>P I AT THE END OF THE RELATED DUE PERIOD: 529
>
> NUMBER OF LOANS IN GROU
>P II AT THE BEGINNING OF THE RELATED DUE PERIOD: 310
>
> NUMBER OF LOANS IN GROU
>P II AT THE END OF THE RELATED DUE PERIOD: 287
>
> TOTAL NUMBER OF LOANS A
>T THE BEGINNING OF THE RELATED DUE PERIOD: 856
>
> TOTAL NUMBER OF LOANS A
>T THE END OF THE RELATED DUE PERIOD: 816
>
> GROUP I WEIGHTED AVERAG
>E REMAINING TERM TO MATURITY: 202
>
> GROUP II WEIGHTED AVERA
>GE REMAINING TERM TO MATURITY: 272
>
>
> Page 2 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> November 16, 1998
> PRINCIPAL BALANCE OF LO
>ANS SUBJECT TO PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 2,328,235.0
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS AS OF THE CURRENT DISTRIBUTION DATE: 40
>
> PRINCIPAL CURTAILMENTS
>ON MORTGAGE LOANS: 14,945.80
>
> PRINCIPAL PORTION OF MO
>NTHLY PAYMENTS ON MORTGAGE LOANS: 68,287.40
>
> FIXED RATE PRINCIPAL RE
>MITTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D PRINCIPAL PAYMENTS 50,555.30
> CURTAILM
>ENTS 9,044.21
> PREPAYME
>NTS 986,320.89
> INSURANC
>E PROCEEDS 0.00
> RELEASED
> MORTGAGE PROPERTY PROCEEDS 0.00
> NET LIQU
>IDATION PROCEEDS 0.00
> UNRECOVE
>RED CLASS A-1 PORTION 0.00
> PRIOR FI
>XED RATE CARRY FORWARD AMOUNT 0.00
> PRINCIPA
>L PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
> PRINCIPA
>L SUBSTITUTION ADJUSTMENT AMOUNT 0.00
> FIXED RATE PRINCIPAL RE
>MITTANCE AMOUNT: 1,045,920.4
>
> VARIABLE RATE PRINCIPAL
> REMITTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D PRINCIPAL PAYMENTS 17,732.10
> CURTAILM
>ENTS 5,901.59
> PREPAYME
>NTS 1,341,914.16
> INSURANC
>E PROCEEDS 0.00
> RELEASED
> MORTGAGE PROPERTY PROCEEDS 0.00
> NET LIQU
>IDATION PROCEEDS 0.00
> UNRECOVE
>RED CLASS A-2 PORTION 0.00
> PRIOR CL
>ASS A-2 CARRY FORWARD AMOUNT 0.00
> PRINCIPA
>L PORTION OF PRICE ON REPURCHASED MORTGAGE LOANS 0.00
> PRINCIPA
>L SUBSTITUTION ADJUSTMENT AMOUNT 0.00
> VARIABLE RATE PRINCIPAL
> REMITTANCE AMOUNT: 1,365,547.8
>
> TOTAL AMOUNT OF INTERES
>T RECEIVED ON MORTGAGE LOANS: 397,466.71
>
> AMOUNT OF FIXED RATE IN
>SURED 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 RE
>MITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,271,517.9
>
> VARIABLE RATE AVAILABLE
> REMITTANCE AMOUNT AS OF THE CURRENT DISTRIBUTION DATE: 1,522,995.7
>
>
> Page 3 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> November 16, 1998
> GROUP I WEIGHTED AVERAG
>E MORTGAGE INTEREST RATE: 9.22%
>
> GROUP II WEIGHTED AVERA
>GE MORTGAGE INTEREST RATE: 10.22%
>
> CLASS A-1 INTEREST REMI
>TTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D INTEREST PAYMENTS 174,713.29
> LESS: CL
>ASS A-1 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
> FIXED RATE INTEREST REM
>ITTANCE AMOUNT: 174,713.29
>
> CLASS A-1 MORTGAGE LOAN
> INTEREST SHORTFALL COMPONENTS:
> AMOUNT O
>F PREPAYMENT INTEREST SHORTFALL 0.00
> AMOUNT O
>F CIVIL RELIEF ACT SHORTFALL 0.00
> GROUP I MORTGAGE LOAN I
>NTEREST SHORTFALL AMOUNT: 0.00
>
> CLASS A-2 INTEREST REMI
>TTANCE AMOUNT COMPONENTS:
> SCHEDULE
>D INTEREST PAYMENTS 95,601.11
> LESS: A-
>2 MORTGAGE LOAN INTEREST SHORTFALL AMOUNT 0.00
> VARIABLE RATE INTEREST
>REMITTANCE AMOUNT: 95,601.11
>
> CLASS A-2 MORTGAGE LOAN
> INTEREST SHORTFALL COMPONENTS:
> AMOUNT O
>F PREPAYMENT INTEREST SHORTFALL 0.00
> AMOUNT O
>F CIVIL RELIEF ACT SHORTFALL 0.00
> GROUP II MORTGAGE LOAN
>INTEREST SHORTFALL AMOUNT: 0.00
>
> REIMBURSEMENTS TO THE S
>ERVICER OR SELLER TO THE EXTENT OF REIMBURSABLE AMOUNTS: 0.00
>
> REIMBURSEMENTS TO THE S
>ERVICER OR SELLER TO THE EXTENT OF NONRECOVERABLE ADVANCES: 0.00
>
>
> Page 4 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> November 16, 1998
> AMOUNT TRANSFERRED FROM
> THE SIMPLE INTEREST SUB-ACCOUNT TO THE CERTIFICATE ACCOUNT: 0.00
>
> AMOUNT TRANSFERRED FROM
> THE SPREAD ACCOUNT TO THE SIMPLE INTEREST ACCOUNT: 0.00
>
> SIMPLE INTEREST EXCESS
>SUB-ACCOUNT BEGINNING BALANCE: 13,896.16
>
> NET SIMP
>LE INTEREST EXCESS DEPOSITED IN SIMPLE INTEREST EXCESS S 19,079.21
> NET SIMP
>LE INTEREST SHORTFALL WITHDRAWN FROM SIMPLE INTEREST SUB 0.00
> LESS: A
>NNUAL WITHDRAWAL OF 90% OF BALANCE - P&S SECTION 6.02 0.00
> SIMPLE INTEREST EXCESS
>SUB-ACCOUNT ENDING BALANCE: 32,975.37
>
> AMOUNT TRANSFERRED FROM
> THE SPREAD ACCOUNT TO THE CERTIFICATE ACCOUNT: 112,187.95
>
> SPREAD ACCOUNT BEGINNIN
>G BALANCE: 1,094,828.8
>
> AMOUNT O
>F MONTHLY EXCESS SPREAD DEPOSITED 107,208.32
> GAIN / (
>LOSSES) ON AMOUNTS INVESTED IN SPREAD ACCOUN 4,979.63
> TOTAL AM
>OUNT DEPOSITED IN THE SPREAD ACCOUNT 112,187.95
> TOTAL AM
>OUNTS WITHDRAWN FROM THE SPREAD ACCOUNT 112,187.95
> SPREAD ACCOUNT ENDING B
>ALANCE: 1,094,828.8
>
> EXCESS SPREAD PERCENTAG
>E: 100.00%
>
> AMOUNT OF EXCESS SPREAD
>: 107,208.32
>
> AMOUNT OF MONTHLY EXCES
>S SPREAD: 107,208.32
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO REIMBURSABLE AMOUNTS: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO MONTHLY ADVANCES: 0.00
>
> AMOUNT OF SPREAD ACCOUN
>T EXCESS APPLIED TO CLASS R CERTIFICATEHOLDERS: 0.00
>
> SUMMARY OF REALIZED LOS
>SES:
> CURRENT
>GROUP I REALIZED LOSSES: 0.00
>
> CUMULATI
>VE GROUP I REALIZED LOSSES: 1,136.32
>
> CUMULATI
>VE REALIZED LOSSES ON THE FIXED RATE CERTIFICATES: 0.00
>
> CURRENT
>GROUP II REALIZED LOSSES: 0.00
>
> CUMULATI
>VE GROUP II REALIZED LOSSES: 0.00
>
> CUMULATI
>VE REALIZED LOSSES ON THE VARIABLE RATE CERTIFICATES: 0.00
>
>
> Page 5 of 6 COPYRIGHT 1998 B
>
> Lehman Home Equity Loan
> Trust
> Home Equity Loan Asset-
>Backed Certificates
> Series 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> November 16, 1998
> COMPONENTS OF REIMBURSE
>MENTS 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 SERVICE 0.00
> SECTION
>3.03 (v) AMOUNTS DEPOSITED IN CERTIFICATE ACCOUNT IN ER 0.00
> SECTION
>3.03 (vii) REO CONSERVATION & DISPOSITION AMOUNTS DUE S 0.00
> SECTION
>3.03 (viii) REIMBURSEMENT OF NONRECOVERABLE ADVANCES 0.00
> TOTAL AMOUNT OF REIMBUR
>SEMENTS TO THE SERVICER: 0.00
>
> AMOUNT ON DEPOSIT IN TH
>E PRE-FUNDING ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
>
> AMOUNT ON DEPOSIT IN TH
>E CAPITALIZED INTEREST ACCOUNT AS OF THE CURRENT DISTRIBUTION DATE: 0.00
>
> AMOUNT DUE THE SELLER P
>URSUANT TO SECTION 3.02 (b) (ii) AS OF THE FIRST DISTRIBUTION DATE: 0.00
>
> GAINS / (LOSSES) TO MON
>THLY EXCESS SPREAD ACCOUNT DEPOSIT BY GROUPS
> CURRENT
>GROUP I AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 47,582.95
>
> CURRENT
>GROUP II AMOUNT OF MONTHLY EXCESS SPREAD DEPOSITED 59,625.37
>
>
> Page 6 of 6 COPYRIGHT 1998 B
>
ankers Trust Company
ankers Trust Company
ankers Trust Company
ankers Trust Company
ankers Trust Company
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