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): September 25,
1998.
SALOMON BROTHERS MORTGAGE SECURITIES VI, INC.
Salomon Brothers Mortgage Securities VII, Inc., as Depositor,
Wilshire Servicing Corporation, as Master Servicer, and Bankers Trust
Company, as Trustee under the Pooling and Servicing Agreement, dated
as of June 1, 1998, providing for the issuance of the Salomon
Brothers Mortgage Securities VII, Inc. Mortgage Pass-Through
Certificates, Series 1998-WFC1.)
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC. MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 1998-WFC1.
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-44593-08 13-3439681
(Commission File Number) (I.R.S. Employer Identification No.)
SEVEN WORLD TRADE CENTER
29TH FLOOR
NEW YORK, NEW YORK 10048
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212) 783-5659
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
September 25, 1998.
Monthly Report to Certificateholders as to distributions made on
October 26, 1998.
Monthly Report to Certificateholders as to distributions made on
November 25, 1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, hereunto duly authorized.
Bankers Trust Company, 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 June 1, 1998.
Date: December 29, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
Monthly Report to Certificateholders as to distributions
made on September 25, 1998.
Monthly Report to Certificateholders as to distributions
made on October 26, 1998.
Monthly Report to Certificateholders as to distributions
made on November 25, 1998.
Salomon Brothers Mortgage Securities VII, Inc.
Mortgage Pass-Through Certificates
Series 1998-WFC1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
REG INT A1 104,182,170.00 98,202,080.90 579,063.29 1,161,611.62 1,
>740,674.91 0.00 0.00 97,040,469.28
REG INT A2 23,968,035.00 23,295,000.22 135,310.56 384,478.24
>519,788.80 0.00 0.00 22,910,521.98
REG INT B1 9,293,000.00 9,269,949.39 54,661.65 8,245.89
> 62,907.54 0.00 0.00 9,261,703.50
REG INT B2 7,603,000.00 7,584,141.32 44,721.02 6,746.31
> 51,467.33 0.00 0.00 7,577,395.01
REG INT B3 5,069,000.00 5,056,426.72 29,815.97 4,497.84
> 34,313.81 0.00 0.00 5,051,928.88
REG INT B4 8,871,000.00 8,848,996.13 52,179.43 7,871.44
> 60,050.87 0.00 0.00 8,841,124.69
REG INT B5 2,534,000.00 2,527,714.60 14,905.05 2,248.48
> 17,153.53 0.00 0.00 2,525,466.12
REG INT B6 7,181,287.00 7,144,175.27 42,126.70 6,354.95
> 48,481.65 0.00 0.00 7,137,820.32
REG INT PO 258,895.00 257,199.64 0.00 723.69
> 723.69 0.00 0.00 256,475.95
R-I 100.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 168,960,487.00 162,185,684.19 952,783.67 1,582,778.46 2,
>535,562.13 0.00 0.00 160,602,905.73
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
REG INT A1 942.599688 5.558180 11.149812
> 16.707992 931.449876 7.075980% N/A
REG INT A2 971.919484 5.645459 16.041292
> 21.686751 955.878193 6.965144% N/A
REG INT B1 997.519573 5.882024 0.887323
> 6.769347 996.632250 7.075980% N/A
REG INT B2 997.519574 5.882023 0.887322
> 6.769345 996.632252 7.075980% N/A
REG INT B3 997.519574 5.882022 0.887323
> 6.769345 996.632251 7.075980% N/A
REG INT B4 997.519573 5.882023 0.887323
> 6.769346 996.632250 7.075980% N/A
REG INT B5 997.519574 5.882024 0.887324
> 6.769349 996.632249 7.075980% N/A
REG INT B6 994.832162 5.866177 0.884932
> 6.751109 993.947230 7.075980% N/A
REG INT PO 993.451554 0.000000 2.795303
> 2.795303 990.656251 0.000000% N/A
R-I 79548KZX9 0.000000 0.000000 0.000000
> 0.000000 0.000000 7.075980% N/A
SELLER: WMFC 1997-4 Inc. ADMI
>NISTRATOR: Jennifer Bohannon
SERVICER: Wilshire Servicing Corporation
> Bankers Trust Company
LEAD UNDERWRITER: Salomon Brothers Mortgage Securities VII, Inc
> 3 Park Plaza
RECORD DATE: August 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: September 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
Salomon Brothers Mortgage Securities VII, Inc.
Mortgage Pass-Through Certificates
Series 1998-WFC1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 104,182,070.00 98,202,080.90 473,496.05 1,161,611.62 1,
>635,107.67 0.00 0.00 97,040,469.28
A-2 23,968,035.00 23,295,000.22 126,181.25 384,478.24
>510,659.49 0.00 0.00 22,910,521.98
B-1 9,293,000.00 9,269,949.39 47,902.31 8,245.89
> 56,148.20 0.00 0.00 9,261,703.50
B-2 7,603,000.00 7,584,141.32 39,190.92 6,746.31
> 45,937.23 0.00 0.00 7,577,395.01
B-3 5,069,000.00 5,056,426.72 27,287.76 4,497.84
> 31,785.60 0.00 0.00 5,051,928.88
B-4 8,871,000.00 8,848,996.13 52,179.43 7,871.44
> 60,050.87 0.00 0.00 8,841,124.69
B-5 2,534,000.00 2,527,714.60 14,905.05 2,248.48
> 17,153.53 0.00 0.00 2,525,466.12
B-6 7,181,287.00 7,144,175.27 42,126.70 6,354.95
> 48,481.65 0.00 0.00 7,137,820.32
XS(*)150,115,205.00 143,407,598.55 129,514.20 0.00
>129,514.20 0.00 0.00 141,842,018.65
PO 258,895.00 257,199.64 0.00 723.69
> 723.69 0.00 0.00 256,475.95
R-II 100.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 168,960,387.00 162,185,684.19 952,783.67 1,582,778.46 2,
>535,562.13 0.00 0.00 160,602,905.73
(*) Represents a Notional Balance
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 79548KZR2 942.600592 4.544890 11.149823
> 15.694713 931.450770 5.785980% N/A
A-2 79548KZS0 971.919484 5.264564 16.041292
> 21.305855 955.878193 6.500000% N/A
B-1 79548KZU5 997.519573 5.154666 0.887323
> 6.041989 996.632250 6.200980% N/A
B-2 79548KZV3 997.519574 5.154665 0.887322
> 6.041987 996.632252 6.200980% N/A
B-3 79548KZW1 997.519574 5.383263 0.887323
> 6.270586 996.632251 6.475980% N/A
B-4 WM9801206 997.519573 5.882023 0.887323
> 6.769346 996.632250 7.075980% N/A
B-5 WM9801207 997.519574 5.882024 0.887324
> 6.769349 996.632249 7.075980% N/A
B-6 WM9801208 994.832162 5.866177 0.884932
> 6.751109 993.947230 7.075980% N/A
XS 79548KZT8 955.316942 0.862765 0.000000
> 0.862765 944.887752 1.082909% N/A
PO 79548KB56 993.451554 0.000000 2.795303
> 2.795303 990.656251 0.000000% N/A
R-II 79548KZY7 0.000000 0.000000 0.000000
> 0.000000 0.000000 7.075980% N/A
SELLER: WMFC 1997-4 Inc. ADMI
>NISTRATOR: Jennifer Bohannon
SERVICER: Wilshire Servicing Corporation
> Bankers Trust Company
LEAD UNDERWRITER: Salomon Brothers Mortgage Securities VII, Inc
> 3 Park Plaza
RECORD DATE: August 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: September 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
> Salomon Brothers Mortga
>ge Securities VII, Inc.
> Mortgage Pass-Through C
>ertificates
> Series 1998-WFC1
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1998
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 67,577.36
> LESS REDUCTIONS TO SERV
>ICING FEES FOR PREPAYMENT INTEREST SHORTFALL 0.00
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 67,577.36
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 5,583.63
>
> TRUSTEE FEE
> 2,027.32
>
> DELINQUENT AND
> THREE + PMTS LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> ONE TWO (Excluding F IN IN IN
>
> INFORMATION *
> PAYMENT PAYMENTS & BANKRUPTCY BANKRUPTCY REO FORECLOSURE
>
> GROUP 1 PRINCIPA
>L BALANCE 10,274,540.23 2,477,888.22 1,745,884.62 0.00 0.00 1,471,585.06
>
> PERCENTAGE OF POOL BALA
>NCE 7.4759% 1.8029% 1.2703% 0.0000% 0.0000% 1.0707%
>
> NUMBER OF LOANS
> 59 12 8 0 0 8
>
> PERCENTAGE OF LOANS
> 9.0909% 1.8490% 1.2327% 0.0000% 0.0000% 1.2327%
>
> GROUP 2 PRINCIPA
>L BALANCE 1,243,070.67 446,357.30 230,153.98 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 5.3657% 1.9267% 0.9935% 0.0000% 0.0000% 0.0000%
>
> NUMBER OF LOANS
> 10 3 2 0 0 0
>
> PERCENTAGE OF LOANS
> 5.1546% 1.5464% 1.0309% 0.0000% 0.0000% 0.0000%
>
> *Per Section 4.02(viii)
>of the Pooling and Servicing Agreement, delinquencies are calculated in each c
>
> immediately preceding P
>repayment Period
> BALANCE OF LOANS WHICH
>BECAME REO DURING THE PRECEDING CALENDAR MONTH 0.00
>
> NUMBER OF LOANS WHICH B
>ECAME REO DURING THE PRECEDING CALENDAR MONTH 0
>
> GROUP 1 GROUP 2 TOTAL
>
> PAYMENT ADVANCE
> 874,686.19 147,921.81 1,022,608.0
>
> PAYMENT ADVANCE REIMBUR
>SED 904,315.00 139,614.40 1,043,929.40
>
> OUTSTANDING ADVANCES RE
>IMBURSEMENT 884,829.92 136,606.16 1,021,436.08
>
> ENDING STATED BALANCE O
>F MORTGAGE POOL 137,435,907.80 23,166,997.93 160,602,905.73
>
> ENDING NUMBER OF LOANS
> 649 194 843
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 317 233 305
>
> CURRENT WEIGHTED AVERAG
>E COUPON RATE 7.5910% 7.4092% 7.5646%
>
> NEXT WEIGHTED AVERAGE C
>OUPON RATE 7.5886% 7.4050% 7.5621%
>
> PRINCIPAL PREPAYMENTS
> 1,074,258.02 348,099.08 1,422,357.10
>
> MORTGAGE LOANS REPURCHA
>SED BY SERVICER 0.00 0.00 0.00
>
> CURRENT EXTRAORDINARY T
>RUST FUND EXPENSES 0.00 0.00 0.00
>
> EXTRAORDINARY TRUST FUN
>D EXPENSES SINCE CLOSING DATE 0.00 0.00 0.00
>
> BANKRUPTCY AMOUNT
> 50,000.00
>
> FRAUD LOSS AMOUNT
> 5,068,815.00
>
> SPECIAL HAZARD AMOUNT
> 2,213,382.00
>
> AMOUNT OF PAYMENTS MADE
> WITH RESPECT TO CROSS-COLLATERALIZATION EVENT 0.00
>
> AMOUNT OF PAYMENTS MADE
> WITH RESPECT TO PREPAYMENT DIVERSION EVENT 0.00
>
>
> Page 3 of 4 (c) COPYRIGHT 1998 B
>
> Salomon Brothers Mortga
>ge Securities VII, Inc.
> Mortgage Pass-Through C
>ertificates
> Series 1998-WFC1
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1998
> AGGREGATE AMOUNT OF REL
>IEF ACT SHORTFALL 0.00
>
> CERTIFICATE INTEREST
> REALIZED NET OTHER PRIOR INTEREST CURRENT
>
>
> ACCRUED LOSS PREPAYMENT INTEREST UNPAID DISTRIBUTION UNPAID
>
>
> INTEREST ALLOCATION INTEREST SHORTFALL INTEREST AMOUNT INTEREST
>
> CLASS A-1
> 473,496.05 NA 0.00 0.00 0.00 473,496.05 0.00
>
> CLASS A-2
> 126,181.25 NA 0.00 0.00 0.00 126,181.25 0.00
>
> CLASS B-1
> 47,902.31 0.00 0.00 0.00 0.00 47,902.31 0.00
>
> CLASS B-2
> 39,190.92 0.00 0.00 0.00 0.00 39,190.92 0.00
>
> CLASS B-3
> 27,287.76 0.00 0.00 0.00 0.00 27,287.76 0.00
>
> CLASS B-4
> 52,179.43 0.00 0.00 0.00 0.00 52,179.43 0.00
>
> CLASS B-5
> 14,905.05 0.00 0.00 0.00 0.00 14,905.05 0.00
>
> CLASS B-6
> 42,126.70 0.00 0.00 0.00 0.00 42,126.70 0.00
>
> CLASS XS
> 129,514.20 0.00 0.00 0.00 0.00 129,514.20 0.00
>
> GROUP 1 GROUP 2 TOTAL
>
> CURRENT REALIZED LOSSES
> 0.00 0.00 0.00
>
> REALIZED LOSSES SINCE C
>LOSING DATE 19,316.02 0.00 19,316.02
>
> CURRENT BANKRUPCTY LOSS
>ES 0.00 0.00 0.00
>
> BANKRUPCTY LOSSES SINCE
> CLOSING DATE 0.00 0.00 0.00
>
> CURRENT FRAUD LOSSES
> 0.00 0.00 0.00
>
> FRAUD LOSSES SINCE CLOS
>ING DATE 0.00 0.00 0.00
>
> CURRENT SPECIAL HAZARD
>LOSSES 0.00 0.00 0.00
>
> SPECIAL HAZARD LOSSES S
>INCE CLOSING DATE 0.00 0.00 0.00
>
> MORTGAGE LOANS LIQUIDAT
>ED DURING THE PRECEDING CALENDAR MONTH:
>
> STATED PRIN REALIZED LIQUIDATION
>
> Loan Number
> SUBPOOL BALANCE LOSS DATE
>
> Page 4 of 4 (c) COPYRIGHT 1998 B
>
ase based on the end of the
ankers Trust Company
ankers Trust Company
Salomon Brothers Mortgage Securities VII, Inc.
Mortgage Pass-Through Certificates
Series 1998-WFC1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
REG INT A1 104,182,170.00 97,040,469.28 572,021.27 4,895,993.62 5,
>468,014.89 0.00 0.00 92,144,475.66
REG INT A2 23,968,035.00 22,910,521.98 133,016.49 685,679.77
>818,696.26 0.00 0.00 22,224,842.21
REG INT B1 9,293,000.00 9,261,703.50 54,594.67 8,006.74
> 62,601.41 0.00 0.00 9,253,696.76
REG INT B2 7,603,000.00 7,577,395.01 44,666.22 6,550.65
> 51,216.87 0.00 0.00 7,570,844.36
REG INT B3 5,069,000.00 5,051,928.88 29,779.44 4,367.39
> 34,146.83 0.00 0.00 5,047,561.49
REG INT B4 8,871,000.00 8,841,124.69 52,115.49 7,643.15
> 59,758.64 0.00 0.00 8,833,481.54
REG INT B5 2,534,000.00 2,525,466.12 14,886.78 2,183.26
> 17,070.04 0.00 0.00 2,523,282.86
REG INT B6 7,181,287.00 7,137,820.32 42,075.08 6,170.65
> 48,245.73 0.00 0.00 7,131,649.67
REG INT PO 258,895.00 256,475.95 0.00 10,770.18
> 10,770.18 0.00 0.00 245,705.77
R-I 100.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 168,960,487.00 160,602,905.73 943,155.44 5,627,365.41 6,
>570,520.85 0.00 0.00 154,975,540.32
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
REG INT A1 931.449876 5.490587 46.994544
> 52.485131 884.455331 7.073601% N/A
REG INT A2 955.878193 5.549745 28.608093
> 34.157838 927.270100 6.961924% N/A
REG INT B1 996.632250 5.874817 0.861588
> 6.736405 995.770662 7.073601% N/A
REG INT B2 996.632252 5.874815 0.861588
> 6.736403 995.770664 7.073601% N/A
REG INT B3 996.632251 5.874816 0.861588
> 6.736404 995.770663 7.073601% N/A
REG INT B4 996.632250 5.874816 0.861588
> 6.736404 995.770662 7.073601% N/A
REG INT B5 996.632249 5.874815 0.861586
> 6.736401 995.770663 7.073601% N/A
REG INT B6 993.947230 5.858989 0.859268
> 6.718257 993.087962 7.073601% N/A
REG INT PO 990.656251 0.000000 41.600572
> 41.600572 949.055679 0.000000% N/A
R-I 79548KZX9 0.000000 0.000000 0.000000
> 0.000000 0.000000 7.073601% N/A
SELLER: WMFC 1997-4 Inc. ADMI
>NISTRATOR: Jennifer Bohannon
SERVICER: Wilshire Servicing Corporation
> Bankers Trust Company
LEAD UNDERWRITER: Salomon Brothers Mortgage Securities VII, Inc
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
Salomon Brothers Mortgage Securities VII, Inc.
Mortgage Pass-Through Certificates
Series 1998-WFC1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 104,182,070.00 97,040,469.28 467,702.78 4,895,993.62 5,
>363,696.40 0.00 0.00 92,144,475.66
A-2 23,968,035.00 22,910,521.98 124,098.66 685,679.77
>809,778.43 0.00 0.00 22,224,842.21
B-1 9,293,000.00 9,261,703.50 47,841.34 8,006.74
> 55,848.08 0.00 0.00 9,253,696.76
B-2 7,603,000.00 7,577,395.01 39,141.04 6,550.65
> 45,691.69 0.00 0.00 7,570,844.36
B-3 5,069,000.00 5,051,928.88 27,253.48 4,367.39
> 31,620.87 0.00 0.00 5,047,561.49
B-4 8,871,000.00 8,841,124.69 52,115.49 7,643.15
> 59,758.64 0.00 0.00 8,833,481.54
B-5 2,534,000.00 2,525,466.12 14,886.78 2,183.26
> 17,070.04 0.00 0.00 2,523,282.86
B-6 7,181,287.00 7,137,820.32 42,075.08 6,170.65
> 48,245.73 0.00 0.00 7,131,649.67
XS(*)150,115,205.00 141,842,018.65 128,040.79 0.00
>128,040.79 0.00 0.00 136,241,420.48
PO 258,895.00 256,475.95 0.00 10,770.18
> 10,770.18 0.00 0.00 245,705.77
R-II 100.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 168,960,387.00 160,602,905.73 943,155.44 5,627,365.41 6,
>570,520.85 0.00 0.00 154,975,540.32
(*) Represents a Notional Balance
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 79548KZR2 931.450770 4.489283 46.994590
> 51.483872 884.456180 5.783601% N/A
A-2 79548KZS0 955.878193 5.177674 28.608093
> 33.785766 927.270100 6.500000% N/A
B-1 79548KZU5 996.632250 5.148105 0.861588
> 6.009693 995.770662 6.198601% N/A
B-2 79548KZV3 996.632252 5.148105 0.861588
> 6.009692 995.770664 6.198601% N/A
B-3 79548KZW1 996.632251 5.376500 0.861588
> 6.238088 995.770663 6.473601% N/A
B-4 WM9801206 996.632250 5.874816 0.861588
> 6.736404 995.770662 7.073601% N/A
B-5 WM9801207 996.632249 5.874815 0.861586
> 6.736401 995.770663 7.073601% N/A
B-6 WM9801208 993.947230 5.858989 0.859268
> 6.718257 993.087962 7.073601% N/A
XS 79548KZT8 944.887752 0.852950 0.000000
> 0.852950 907.579086 1.082405% N/A
PO 79548KB56 990.656251 0.000000 41.600572
> 41.600572 949.055679 0.000000% N/A
R-II 79548KZY7 0.000000 0.000000 0.000000
> 0.000000 0.000000 7.073601% N/A
SELLER: WMFC 1997-4 Inc. ADMI
>NISTRATOR: Jennifer Bohannon
SERVICER: Wilshire Servicing Corporation
> Bankers Trust Company
LEAD UNDERWRITER: Salomon Brothers Mortgage Securities VII, Inc
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
> Salomon Brothers Mortga
>ge Securities VII, Inc.
> Mortgage Pass-Through C
>ertificates
> Series 1998-WFC1
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 66,917.88
> LESS REDUCTIONS TO SERV
>ICING FEES FOR PREPAYMENT INTEREST SHORTFALL 0.00
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 66,917.88
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 4,902.79
>
> TRUSTEE FEE
> 2,007.54
>
> DELINQUENT AND
> THREE + PMTS LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> ONE TWO (Excluding F IN IN IN
>
> INFORMATION *
> PAYMENT PAYMENTS & BANKRUPTCY BANKRUPTCY REO FORECLOSURE
>
> GROUP 1 PRINCIPA
>L BALANCE 7,899,939.89 2,450,854.10 1,920,774.68 0.00 0.00 1,666,405.46
>
> PERCENTAGE OF POOL BALA
>NCE 5.9620% 1.8496% 1.4496% 0.0000% 0.0000% 1.2576%
>
> NUMBER OF LOANS
> 42 12 9 0 0 9
>
> PERCENTAGE OF LOANS
> 6.6456% 1.8987% 1.4241% 0.0000% 0.0000% 1.4241%
>
> GROUP 2 PRINCIPA
>L BALANCE 942,917.75 482,192.33 379,063.88 0.00 0.00 150,933.51
>
> PERCENTAGE OF POOL BALA
>NCE 4.1962% 2.1459% 1.6869% 0.0000% 0.0000% 0.6717%
>
> NUMBER OF LOANS
> 7 4 3 0 0 1
>
> PERCENTAGE OF LOANS
> 3.7037% 2.1164% 1.5873% 0.0000% 0.0000% 0.5291%
>
> *Per Section 4.02(viii)
>of the Pooling and Servicing Agreement, delinquencies are calculated in each c
>
> immediately preceding P
>repayment Period
> BALANCE OF LOANS WHICH
>BECAME REO DURING THE PRECEDING CALENDAR MONTH 0.00
>
> NUMBER OF LOANS WHICH B
>ECAME REO DURING THE PRECEDING CALENDAR MONTH 0
>
>
> GROUP 1 GROUP 2 TOTAL
>
> PAYMENT ADVANCE
> 865,840.46 158,272.73 1,024,113.19
>
> PAYMENT ADVANCE REIMBUR
>SED 874,799.37 144,521.18 1,019,320.55
>
> OUTSTANDING ADVANCES RE
>IMBURSEMENT 881,109.71 145,563.68 1,026,673.39
>
> ENDING STATED BALANCE O
>F MORTGAGE POOL 132,504,992.34 22,470,547.98 154,975,540.32
>
> ENDING NUMBER OF LOANS
> 632 189 821
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 318 234 306
>
> CURRENT WEIGHTED AVERAG
>E COUPON RATE 7.5886% 7.4050% 7.5621%
>
> NEXT WEIGHTED AVERAGE C
>OUPON RATE 7.5824% 7.3940% 7.5550%
>
> PRINCIPAL PREPAYMENTS
> 4,812,102.17 660,249.89 5,472,352.06
>
> MORTGAGE LOANS REPURCHA
>SED BY SERVICER 0.00 0.00 0.00
>
> CURRENT EXTRAORDINARY T
>RUST FUND EXPENSES 0.00 0.00 0.00
>
> EXTRAORDINARY TRUST FUN
>D EXPENSES SINCE CLOSING DATE 0.00 0.00 0.00
>
> BANKRUPTCY AMOUNT
> 50,000.00
>
> FRAUD LOSS AMOUNT
> 5,068,815.0
>
> SPECIAL HAZARD AMOUNT
> 2,213,382.0
>
> AMOUNT OF PAYMENTS MADE
> WITH RESPECT TO CROSS-COLLATERALIZATION EVENT 0.00
>
> AMOUNT OF PAYMENTS MADE
> WITH RESPECT TO PREPAYMENT DIVERSION EVENT 0.00
>
>
> Page 3 of 4 (c) COPYRIGHT 1998 B
>
> Salomon Brothers Mortga
>ge Securities VII, Inc.
> Mortgage Pass-Through C
>ertificates
> Series 1998-WFC1
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
> AGGREGATE AMOUNT OF REL
>IEF ACT SHORTFALL 0.00
>
> CERTIFICATE INTEREST
> REALIZED NET OTHER PRIOR INTEREST CURRENT
>
>
> ACCRUED LOSS PREPAYMENT INTEREST UNPAID DISTRIBUTION UNPAID
>
>
> INTEREST ALLOCATION INTEREST SHORTFALL INTEREST AMOUNT INTEREST
>
> CLASS A-1
> 467,702.78 NA 0.00 0.00 0.00 467,702.78 0.00
>
> CLASS A-2
> 124,098.66 NA 0.00 0.00 0.00 124,098.66 0.00
>
> CLASS B-1
> 47,841.34 0.00 0.00 0.00 0.00 47,841.34 0.00
>
> CLASS B-2
> 39,141.04 0.00 0.00 0.00 0.00 39,141.04 0.00
>
> CLASS B-3
> 27,253.48 0.00 0.00 0.00 0.00 27,253.48 0.00
>
> CLASS B-4
> 52,115.49 0.00 0.00 0.00 0.00 52,115.49 0.00
>
> CLASS B-5
> 14,886.78 0.00 0.00 0.00 0.00 14,886.78 0.00
>
> CLASS B-6
> 42,075.08 0.00 0.00 0.00 0.00 42,075.08 0.00
>
> CLASS XS
> 128,040.79 0.00 0.00 0.00 0.00 128,040.79 0.00
>
>
> GROUP 1 GROUP 2 TOTAL
>
> CURRENT REALIZED LOSSES
> 0.00 0.00 0.00
>
> REALIZED LOSSES SINCE C
>LOSING DATE 19,316.02 0.00 19,316.02
>
> CURRENT BANKRUPCTY LOSS
>ES 0.00 0.00 0.00
>
> BANKRUPCTY LOSSES SINCE
> CLOSING DATE 0.00 0.00 0.00
>
> CURRENT FRAUD LOSSES
> 0.00 0.00 0.00
>
> FRAUD LOSSES SINCE CLOS
>ING DATE 0.00 0.00 0.00
>
> CURRENT SPECIAL HAZARD
>LOSSES 0.00 0.00 0.00
>
> SPECIAL HAZARD LOSSES S
>INCE CLOSING DATE 0.00 0.00 0.00
>
> MORTGAGE LOANS LIQUIDAT
>ED DURING THE PRECEDING CALENDAR MONTH:
>
> STATED PRIN REALIZED LIQUIDATION
>
> Loan Number
> SUBPOOL BALANCE LOSS DATE
>
> Page 4 of 4 (c) COPYRIGHT 1998 B
>
ase based on the end of the
ankers Trust Company
ankers Trust Company
Salomon Brothers Mortgage Securities VII, Inc.
Mortgage Pass-Through Certificates
Series 1998-WFC1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
REG INT A1 104,182,170.00 92,144,475.66 542,681.32 785,651.28 1,
>328,332.60 0.00 0.00 91,358,824.38
REG INT A2 23,968,035.00 22,224,842.21 128,811.92 401,156.46
>529,968.38 0.00 0.00 21,823,685.75
REG INT B1 9,293,000.00 9,253,696.76 54,499.29 8,289.46
> 62,788.75 0.00 0.00 9,245,407.30
REG INT B2 7,603,000.00 7,570,844.36 44,588.20 6,781.96
> 51,370.16 0.00 0.00 7,564,062.40
REG INT B3 5,069,000.00 5,047,561.49 29,727.42 4,521.61
> 34,249.03 0.00 0.00 5,043,039.88
REG INT B4 8,871,000.00 8,833,481.54 52,024.45 7,913.03
> 59,937.48 0.00 0.00 8,825,568.51
REG INT B5 2,534,000.00 2,523,282.86 14,860.78 2,260.36
> 17,121.14 0.00 0.00 2,521,022.50
REG INT B6 7,181,287.00 7,131,649.67 42,001.58 6,388.54
> 48,390.12 0.00 0.00 7,125,261.13
REG INT PO 258,895.00 245,705.77 0.00 913.07
> 913.07 0.00 0.00 244,792.70
R-I 100.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 168,960,487.00 154,975,540.32 909,194.96 1,223,875.77 2,
>133,070.73 0.00 0.00 153,751,664.55
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
REG INT A1 884.455331 5.208965 7.541130
> 12.750095 876.914201 7.067354% N/A
REG INT A2 927.270100 5.374321 16.737144
> 22.111466 910.532956 6.950048% N/A
REG INT B1 995.770662 5.864553 0.892011
> 6.756564 994.878651 7.067354% N/A
REG INT B2 995.770664 5.864553 0.892011
> 6.756565 994.878653 7.067354% N/A
REG INT B3 995.770663 5.864553 0.892012
> 6.756565 994.878651 7.067354% N/A
REG INT B4 995.770662 5.864553 0.892011
> 6.756564 994.878651 7.067354% N/A
REG INT B5 995.770663 5.864554 0.892013
> 6.756567 994.878650 7.067354% N/A
REG INT B6 993.087962 5.848754 0.889609
> 6.738363 992.198352 7.067354% N/A
REG INT PO 949.055679 0.000000 3.526797
> 3.526797 945.528882 0.000000% N/A
R-I 79548KZX9 0.000000 0.000000 0.000000
> 0.000000 0.000000 7.067354% N/A
SELLER: WMFC 1997-4 Inc. ADMI
>NISTRATOR: Jennifer Bohannon
SERVICER: Wilshire Servicing Corporation
> Bankers Trust Company
LEAD UNDERWRITER: Salomon Brothers Mortgage Securities VII, Inc
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
Salomon Brothers Mortgage Securities VII, Inc.
Mortgage Pass-Through Certificates
Series 1998-WFC1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 104,182,070.00 92,144,475.66 443,626.02 785,651.28 1,
>229,277.30 0.00 0.00 91,358,824.38
A-2 23,968,035.00 22,224,842.21 120,384.56 401,156.46
>521,541.02 0.00 0.00 21,823,685.75
B-1 9,293,000.00 9,253,696.76 47,751.80 8,289.46
> 56,041.26 0.00 0.00 9,245,407.30
B-2 7,603,000.00 7,570,844.36 39,067.79 6,781.96
> 45,849.75 0.00 0.00 7,564,062.40
B-3 5,069,000.00 5,047,561.49 27,203.64 4,521.61
> 31,725.25 0.00 0.00 5,043,039.88
B-4 8,871,000.00 8,833,481.54 52,024.45 7,913.03
> 59,937.48 0.00 0.00 8,825,568.51
B-5 2,534,000.00 2,523,282.86 14,860.78 2,260.36
> 17,121.14 0.00 0.00 2,521,022.50
B-6 7,181,287.00 7,131,649.67 42,001.58 6,388.54
> 48,390.12 0.00 0.00 7,125,261.13
XS(*)150,115,205.00 136,241,420.48 122,274.34 0.00
>122,274.34 0.00 0.00 135,035,019.71
PO 258,895.00 245,705.77 0.00 913.07
> 913.07 0.00 0.00 244,792.70
R-II 100.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 168,960,387.00 154,975,540.32 909,194.96 1,223,875.77 2,
>133,070.73 0.00 0.00 153,751,664.55
(*) Represents a Notional Balance
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 79548KZR2 884.456180 4.258180 7.541137
> 11.799317 876.915043 5.777354% N/A
A-2 79548KZS0 927.270100 5.022713 16.737144
> 21.759857 910.532956 6.500000% N/A
B-1 79548KZU5 995.770662 5.138470 0.892011
> 6.030481 994.878651 6.192354% N/A
B-2 79548KZV3 995.770664 5.138470 0.892011
> 6.030481 994.878653 6.192354% N/A
B-3 79548KZW1 995.770663 5.366668 0.892012
> 6.258680 994.878651 6.467354% N/A
B-4 WM9801206 995.770662 5.864553 0.892011
> 6.756564 994.878651 7.067354% N/A
B-5 WM9801207 995.770663 5.864554 0.892013
> 6.756567 994.878650 7.067354% N/A
B-6 WM9801208 993.087962 5.848754 0.889609
> 6.738363 992.198352 7.067354% N/A
XS 79548KZT8 907.579086 0.814537 0.000000
> 0.814537 899.542586 1.076168% N/A
PO 79548KB56 949.055679 0.000000 3.526797
> 3.526797 945.528882 0.000000% N/A
R-II 79548KZY7 0.000000 0.000000 0.000000
> 0.000000 0.000000 7.067354% N/A
SELLER: WMFC 1997-4 Inc. ADMI
>NISTRATOR: Jennifer Bohannon
SERVICER: Wilshire Servicing Corporation
> Bankers Trust Company
LEAD UNDERWRITER: Salomon Brothers Mortgage Securities VII, Inc
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
> Salomon Brothers Mortga
>ge Securities VII, Inc.
> Mortgage Pass-Through C
>ertificates
> Series 1998-WFC1
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 64,573.14
> LESS REDUCTIONS TO SERV
>ICING FEES FOR PREPAYMENT INTEREST SHORTFALL 0.00
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 64,573.14
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 3,889.90
>
> TRUSTEE FEE
> 1,937.19
>
> DELINQUENT AND
> THREE + PMTS LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> ONE TWO (Excluding F IN IN IN
>
> INFORMATION *
> PAYMENT PAYMENTS & BANKRUPTCY BANKRUPTCY REO FORECLOSURE
>
> GROUP 1 PRINCIPA
>L BALANCE 4,941,493.27 1,604,715.98 1,686,917.81 0.00 0.00 3,331,356.41
>
> PERCENTAGE OF POOL BALA
>NCE 3.7526% 1.2186% 1.2810% 0.0000% 0.0000% 2.5298%
>
> NUMBER OF LOANS
> 25 8 8 0 0 17
>
> PERCENTAGE OF LOANS
> 3.9746% 1.2719% 1.2719% 0.0000% 0.0000% 2.7027%
>
> GROUP 2 PRINCIPA
>L BALANCE 461,359.20126,987.46 314,947.01 0.00 0.00 640,527.43
>
> PERCENTAGE OF POOL BALA
>NCE 2.0906% 0.5754% 1.4271% 0.0000% 0.0000% 2.9025%
>
> NUMBER OF LOANS
> 4 1 3 0 0 4
>
> PERCENTAGE OF LOANS
> 2.1505% 0.5376% 1.6129% 0.0000% 0.0000% 2.1505%
>
> *Per Section 4.02(viii)
>of the Pooling and Servicing Agreement, delinquencies are calculated in each c
>
> immediately preceding P
>repayment Period
> BALANCE OF LOANS WHICH
>BECAME REO DURING THE PRECEDING CALENDAR MONTH 0.00
>
> NUMBER OF LOANS WHICH B
>ECAME REO DURING THE PRECEDING CALENDAR MONTH 0
>
>
> GROUP 1 GROUP 2 TOTAL
>
> PAYMENT ADVANCE
> 854,772.57 148,160.89 1,002,933.46
>
> PAYMENT ADVANCE REIMBUR
>SED 0.00 0.00 0.00
>
> OUTSTANDING ADVANCES RE
>IMBURSEMENT 0.00 0.00 0.00
>
> ENDING STATED BALANCE O
>F MORTGAGE POOL 131,683,186.10 22,068,478.45 153,751,664.55
>
> ENDING NUMBER OF LOANS
> 629 186 815
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 317 233 305
>
> CURRENT WEIGHTED AVERAG
>E COUPON RATE 7.5824% 7.3940% 7.5550%
>
> NEXT WEIGHTED AVERAGE C
>OUPON RATE 7.5855% 7.3969% 7.5584%
>
> PRINCIPAL PREPAYMENTS
> 703,108.24 366,596.62 1,069,704.86
>
> MORTGAGE LOANS REPURCHA
>SED BY SERVICER 0.00 0.00 0.00
>
> CURRENT EXTRAORDINARY T
>RUST FUND EXPENSES 0.00 0.00 0.00
>
> EXTRAORDINARY TRUST FUN
>D EXPENSES SINCE CLOSING DATE 0.00 0.00 0.00
>
> BANKRUPTCY AMOUNT
> 50,000.00
>
> FRAUD LOSS AMOUNT
> 5,068,815.0
>
> SPECIAL HAZARD AMOUNT
> 2,213,382.0
>
> AMOUNT OF PAYMENTS MADE
> WITH RESPECT TO CROSS-COLLATERALIZATION EVENT 0.00
>
> AMOUNT OF PAYMENTS MADE
> WITH RESPECT TO PREPAYMENT DIVERSION EVENT 0.00
>
>
> Page 3 of 4 (c) COPYRIGHT 1998 B
>
> Salomon Brothers Mortga
>ge Securities VII, Inc.
> Mortgage Pass-Through C
>ertificates
> Series 1998-WFC1
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
> AGGREGATE AMOUNT OF REL
>IEF ACT SHORTFALL 0.00
>
> CERTIFICATE INTEREST
> REALIZED NET OTHER PRIOR INTEREST CURRENT
>
>
> ACCRUED LOSS PREPAYMENT INTEREST UNPAID DISTRIBUTION UNPAID
>
>
> INTEREST ALLOCATION INTEREST SHORTFALL INTEREST AMOUNT INTEREST
>
> CLASS A-1
> 443,626.02 NA 0.00 0.00 0.00 443,626.02 0.00
>
> CLASS A-2
> 120,384.56 NA 0.00 0.00 0.00 120,384.56 0.00
>
> CLASS B-1
> 47,751.80 0.00 0.00 0.00 0.00 47,751.80 0.00
>
> CLASS B-2
> 39,067.79 0.00 0.00 0.00 0.00 39,067.79 0.00
>
> CLASS B-3
> 27,203.64 0.00 0.00 0.00 0.00 27,203.64 0.00
>
> CLASS B-4
> 52,024.45 0.00 0.00 0.00 0.00 52,024.45 0.00
>
> CLASS B-5
> 14,860.78 0.00 0.00 0.00 0.00 14,860.78 0.00
>
> CLASS B-6
> 42,001.58 0.00 0.00 0.00 0.00 42,001.58 0.00
>
> CLASS XS
> 122,274.34 0.00 0.00 0.00 0.00 122,274.34 0.00
>
>
> GROUP 1 GROUP 2 TOTAL
>
> CURRENT REALIZED LOSSES
> 0.00 0.00 0.00
>
> REALIZED LOSSES SINCE C
>LOSING DATE 19,316.02 0.00 19,316.02
>
> CURRENT BANKRUPCTY LOSS
>ES 0.00 0.00 0.00
>
> BANKRUPCTY LOSSES SINCE
> CLOSING DATE 0.00 0.00 0.00
>
> CURRENT FRAUD LOSSES
> 0.00 0.00 0.00
>
> FRAUD LOSSES SINCE CLOS
>ING DATE 0.00 0.00 0.00
>
> CURRENT SPECIAL HAZARD
>LOSSES 0.00 0.00 0.00
>
> SPECIAL HAZARD LOSSES S
>INCE CLOSING DATE 0.00 0.00 0.00
>
> MORTGAGE LOANS LIQUIDAT
>ED DURING THE PRECEDING CALENDAR MONTH:
>
> STATED PRIN REALIZED LIQUIDATION
>
> Loan Number
> SUBPOOL BALANCE LOSS DATE
>
> Page 4 of 4 (c) COPYRIGHT 1998 B
>
ase based on the end of the
ankers Trust Company
ankers Trust Company
