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Previous: REYNARD MOTORSPORT INC, S-1, 1998-10-29 |
Next: ONYX ACCEPTANCE OWNER TRUST 1998-B, 8-K, 1998-10-29 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event October 15, 1998
--------------------
The Money Store Inc. (as Representative under a Pooling and Servicing Agreement
dated as of July 31, 1998 providing for the issuance of TMS Asset Backed
Certificates, Series 1998-B) and each of the Originators listed on Schedule A
attached hereto.
The Money Store, Inc.
--------------------
(Exact name of registrant as specified in its charter)
New Jersey Applied for
- ----------- -----------
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
- --------------------------------------------------
(Address of principal executive officer)
Registrant's Telephone Number,
including area code: (908) 686-2000
--------------
n/a
- ------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5 Other Events
------------
Attached herein as Annex A is a copy of the Monthly Statement sent to Class
A Certificate holders with respect to the October 15, 1998 Remittance Date.
Item 7 Financial Statements and Exhibits
---------------------------------
The quarterly financial statement for the period ended September 30, 1997
for MBIA Inc. is incorporated by reference to the Form 10Q filed by MBIA Inc,
with the Securities and Exchange Commission on November 14, 1997.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE MONEY STORE INC.
By: /s/ Harry Puglisi
---------------------
Harry Puglisi
Treasurer
Dated: October 31, 1998
<PAGE>
Schedule A
List of Originators
-------------------
1998-B
------
The Money Store/Minnesota Inc.
The Money Store/D.C. Inc.
The Money Store/ Kentucky Inc.
The Money Store Home Equity Corp.
TMS Mortgage Inc.
<PAGE>
SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.10 OF THE POOLING AND SERVICING
AGREEMENT DATED AS OF JULY 31,1998, THE MONEY STORE INC.
REPORTS THE FOLLOWING INFORMATION PERTAINING TO SERIES 1998-B
FOR THE OCTOBER 9, 1998 DETERMINATION DATE.
<TABLE>
<CAPTION>
<S> <C> <C> <C>
POOL I POOL II POOL III
1. AGGREGATE AMOUNT RECEIVED (5.03 b) $9,760,643.18 $12,520,110.56 $5,473,154.43
ADJ : RECALCULATION 0.00 0.00 0.00
-------------------------------------------
9,760,643.18 12,520,110.56 5,473,154.43
LESS: SERVICE FEE (7.03 & 5.04) 82,319.88 89,430.37 39,189.15
CONTINGENCY FEE (7.03 & 5.04) 82,319.88 89,430.37 39,189.15
OTHER SERVICER FEES (Late Charges / Escrow) (7.03 &
5.04 67,635.43 175,165.81 14,802.46
UNREIMBURSED MONTHLY ADVANCES (5.04 b) 0.00 0.00 0.00
-------------------------------------------
232,275.19 354,026.55 93,180.76
PLUS: MONTHLY ADVANCE (6.11) - INCLUDING
COMPENSATING INTEREST (6.12) 938,662.25 575,330.02 6,797.06
LESS: EXCESS SPREAD (I-19) 1,809,596.23 1,615,811.15 994,763.56
SUBORDINATION REDUCTION AMOUNT (I-56) 0.00 0.00 0.00
-------------------------------------------
1,809,596.23 1,615,811.15 994,763.56
-------------------------------------------
AVAILABLE REMITTANCE AMOUNT 8,657,434.01 11,125,602.88 4,392,007.17
===========================================
2. (A) CLASS AF-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 81,765,033.12
(B) CLASS AF-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 65,000,000.00
(C) CLASS AF3 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 132,000,000.00
(D) CLASS AF-4 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 50,000,000.00
(E) CLASS AF-5 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 35,000,000.00
(F) CLASS AF-6 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 48,000,000.00
(G) CLASS AF-7 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 52,969,000.00
(H) CLASS AF-8 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 29,000,000.00
(I) CLASS AF-9 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 23,329,000.00
(J) CLASS AV PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 517,937,263.10
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(K) CLASS AH-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 74,502,378.65
(L) CLASS AH-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 14,086,000.00
(M) CLASS AH-3 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 25,358,000.00
(N) CLASS AH-4 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 11,345,000.00
(O) CLASS AH-5 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 9,470,000.00
(P) CLASS AH-6 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 13,002,000.00
(Q) CLASS MH-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 15,899,000.00
(R) CLASS MH-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 14,955,000.00
(S) CLASS BH PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 16,396,000.00
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS AF-1 7,739,849.51
CLASS AF-2 0.00
CLASS AF-3 0.00
CLASS AF-4 0.00
CLASS AF-5 0.00
CLASS AF-6 0.00
CLASS AF-7 0.00
CLASS AF-8 0.00
CLASS AF-9 0.00
TOTAL POOL I PRINCIPAL DISTRIBUTION AMOUNT: 7,739,849.51
CLASS AV (POOL II) PRINCIPAL DISTRIBUTION 10,209,956.43
CLASS AH-1 4,340,741.74
CLASS AH-2 0.00
CLASS AH-3 0.00
CLASS AH-4 0.00
CLASS AH-5 0.00
CLASS AH-6 0.00
CLASS MH-1 0.00
CLASS MH-2 0.00
CLASS BH 0.00
TOTAL POOL III PRINCIPAL DISTRIBUTION AMOUNT : 4,340,741.74
4.TOTAL AMOUNT OF POOL I, II & III
INSURED PAYMENTS 0.00
5. (A) SUBORDINATED AMOUNT
POOL I 1,666,284.75
POOL II 1,354,063.10
POOL III 949,094.84
(B) SPECIFIED SUBORDINATED AMOUNT
POOL I 16,222,238.00
POOL II 28,054,383.00
POOL III 12,321,742.00
(C) POOL III AVAILABLE MAXIMUM SUBORDINATED AMOUNT 7,334,266.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
6. PRINCIPAL PREPAYMENT RECEIVED DURING
THE DUE PER# ACCOUNTS DOLLARS
POOL I 107 4,699,681.49
POOL II 79 6,947,577.33
POOL III 183 2,615,842.61
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD
POOL I 893,366.11
POOL II 1,604,592.60
POOL III 314,054.29
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD
POOL I 501,845.44
POOL II 220,836.09
POOL III 484,091.15
9. AMOUNT OF INTEREST RECEIVED
POOL I 3,598,114.71
POOL II 3,571,938.73
POOL III 2,033,995.49
10.(A) AMOUNT OF MONTHLY ADVANCES INCLUDING COMPENSATING
INTEREST TO BE MADE ON THE DETERMINATION DATE
TO BE DEPOSITED IN THE CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.01 (a) (ii)
POOL I 938,662.25
POOL II 575,330.02
POOL III 6,797.06
(B) AMOUNT OF COMPENSATING INTEREST
POOL I 1,661.28
POOL II 735.73
POOL III 905.69
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. THE AMOUNT OF REALIZED LOSSES DURING
DUE PERIOD
POOL I 0.00
POOL II 0.00
POOL III 0.00
13. CLASS AF-1 REMITTANCE AMOUNT:
(A) CU 428,585.05
(B) PR 7,739,849.51
(C) CA 0.00
(D) MO 0.00
TOTAL CLASS AF-1 8,168,434.56
CLASS AF-2 REMITTANCE AMOUNT:
(A) CU 331,229.17
(B) PR 0.00
(C) CA 0.00
(D) MO 0.00
TOTAL CLASS AF-2 331,229.17
CLASS AF-3 REMITTANCE AMOUNT:
(A) CU 664,400.00
(B) PR 0.00
(C) CA 0.00
(D) MO 0.00
TOTAL CLASS AF-3 664,400.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
CLASS AF-4 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 254,791.67
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-4 REMITTANCE AMOUNT 254,791.67
CLASS AF-5 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 181,562.50
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-5 REMITTANCE AMOUNT 181,562.50
CLASS AF-6 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 252,600.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-6 REMITTANCE AMOUNT 252,600.00
CLASS AF-7 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 293,536.54
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-7 REMITTANCE AMOUNT 293,536.54
CLASS AF-8 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 147,658.33
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-8 REMITTANCE AMOUNT 147,658.33
CLASS AF-9 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 123,157.68
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AF-9 REMITTANCE AMOUNT 123,157.68
POOL I REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 2,677,520.94
(B) PRINCIPAL DISTRIBUTION AMOUNT 7,739,849.51
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL POOL I REMITTANCE AMOUNT 10,417,370.45
CLASS AV REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 2,477,397.52
(B) PRINCIPAL DISTRIBUTION AMOUNT 10,209,956.43
(C) CARRY FORWARD AMOUNT 0.00
(D) MONTHLY ADVANCE FOR BANKRUPTCY 0.00
TOTAL CLASS AV REMITTANCE AMOUNT 12,687,353.95
CLASS AH-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 381,514.26
(B) PRINCIPAL DISTRIBUTION AMOUNT 4,340,741.74
TOTAL CLASS AH-1 REMITTANCE AMOUNT 4,722,256.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CLASS AH-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 70,430.00
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
70,430.00
TOTAL CLASS AH-2 REMITTANCE AMOUNT
CLASS AH-3 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 128,269.22
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
128,269.22
TOTAL CLASS AH-3 REMITTANCE AMOUNT
ASS AH-4 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 58,379.48
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
58,379.48
TOTAL CLASS AH-4 REMITTANCE AMOUNT
CLASS AH-5 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 49,914.79
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS AH-5 REMITTANCE AMOUNT 49,914.79
CLASS AH-6 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 70,969.25
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS AH-6 REMITTANCE AMOUNT 70,969.25
CLASS MH-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 87,444.50
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS MH-1 REMITTANCE AMOUNT 87,444.50
CLASS MH-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 87,985.25
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS MH-2 REMITTANCE AMOUNT 87,985.25
CLASS BH REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 107,872.02
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS BH REMITTANCE AMOUNT 107,872.02
POOL III REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 1,042,778.77
(B) PRINCIPAL DISTRIBUTION AMOUNT 4,340,741.74
TOTAL POOL III REMITTANCE AMOUNT 5,383,520.51
14.(A) REIMBURSABLE AMOUNTS
(B) CLASS X REMITTANCE AMOUNT PAYABLE PURSUANT
TO SECTION 6.08(d)(X)(v) AND (d)(Z)(xviii)
POOL I (0.00)
POOL II 0.00
POOL III 0.00
15.(A) CLASS AF-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 74,025,183.61
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(B) CLASS AF-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 65,000,000.00
(C) CLASS AF-3 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 132,000,000.00
(D) CLASS AF-4 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 50,000,000.00
(E) CLASS AF-5 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 35,000,000.00
(F) CLASS AF-6 PRINCIPAL BALANCE AFTER
DISTRIBUTIONS TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 48,000,000.00
(G) CLASS AF-7 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 52,969,000.00
(H) CLASS AF-8 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 29,000,000.00
(I) CLASS AF-9 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 23,329,000.00
(J) CLASS AV PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 507,727,306.67
(K) CLASS AH-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 70,161,636.91
(L) CLASS AH-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 14,086,000.00
(M) CLASS AH-3 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 25,358,000.00
(N) CLASS AH-4 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 11,345,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(O) CLASS AH-5 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 9,470,000.00
(P) CLASS AH-6 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 13,002,000.00
(P) CLASS MH-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 15,899,000.00
(Q) CLASS MH-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 14,955,000.00
(R) CLASS BH PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 16,396,000.00
(S) TOTAL POOL I PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 509,323,183.61
(T) TOTAL POOL II PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 507,727,306.67
(U) TOTAL POOL III PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 190,672,636.91
16. (A) MONTHLY EXCESS SPREAD PERCENTAGE (FOR POOL I, II AN 100.00%
(B) EXCESS SPREAD (POOL I) 1,809,596.23
EXCESS SPREAD (POOL II) 1,615,811.15
EXCESS SPREAD (POOL III) 994,763.56
TOTAL EXCESS SPREAD (POOL I, II and III) 4,420,170.93
(C) REMAINDER EXCESS SPREAD AMOUNT POOL I 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL II 0.00
REMAINDER EXCESS SPREAD AMOUNT POOL III 0.00
TOTAL REMAINDER EXCESS SPREAD AMOUNT POOL I, II 0.00
17. CUMULATIVE REALIZED LOSSES
POOL I 0.00
POOL II 0.00
POOL III 0.00
18. (A) THE WEIGHTED AVERAGE MATURITY
POOL I 273.231
POOL II 354.566
POOL III 219.405
(B) THE WEIGHTED AVERAGE MORTGAGE
INTEREST RATE
POOL I 10.871%
POOL II 10.007%
POOL III 12.978%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD
POOL I 82,319.88
POOL II 89,430.37
POOL III 39,189.15
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD
POOL I 82,319.88
POOL II 89,430.37
POOL III 39,189.15
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT - TRUSTEE
POOL I 5,493.79
POOL II 5,503.08
POOL III 3,250.22
(D) AMOUNT TO BE DEPOSITED TO THE INSURANCE ACCOUNT- MBIA
POOL I 44,166.00
POOL II 48,557.00
POOL III 0.00
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE
SERVICERS PURSU POOL I POOL II
(A) SECTION 0.00 0.00
(B) SECTION 0.00 0.00
(C) SECTION 0.00 0.00
(D) SECTION 0.00 0.00
(E) SECTION 164,639.76 178,860.74
POOL III
(A) SECTION 0.00
(B) SECTION 0.00
(C) SECTION 0.00
(D) SECTION 0.00
(E) SECTION 78,378.30
21. CLASS
CURRENT CLASS 74,025,183.61 0.84119527
ORIGINAL CLASS 88,000,000.00
CLASS AF-2 POOL FACTOR (I-5):
CURRENT CLASS 65,000,000.00 1.00000000
ORIGINAL CLASS 65,000,000.00
CLASS AF-3 POOL FACTOR (I-5):
CURRENT CLASS 132,000,000.00 1.00000000
ORIGINAL CLASS 132,000,000.00
CLASS AF-4 POOL FACTOR (I-5):
CURRENT CLASS 50,000,000.00 1.00000000
ORIGINAL CLASS 50,000,000.00
CLASS AF-5 POOL FACTOR (I-5):
CURRENT CLASS 35,000,000.00 1.00000000
ORIGINAL CLASS 35,000,000.00
CLASS AF-6 POOL FACTOR (I-5):
CURRENT CLASS 48,000,000.00 1.00000000
ORIGINAL CLASS 48,000,000.00
CLASS AF-7 POOL FACTOR (I-5):
CURRENT CLASS 52,969,000.00 1.00000000
ORIGINAL CLASS 52,969,000.00
CLASS AF-8 POOL FACTOR (I-5):
CURRENT CLASS 29,000,000.00 1.00000000
ORIGINAL CLASS 29,000,000.00
CLASS AF-9 POOL FACTOR (I-5):
CURRENT CLASS 23,329,000.00 1.00000000
ORIGINAL CLASS 23,329,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
POOL I FACTOR:
CURRENT POOL I PRINCIPAL BALANCE 509,323,183.61 0.97329473
ORIGINAL POOL I PRINCIPAL BALANCE 523,298,000.00
CLASS AV (POOL II) FACTOR:
CURRENT CLASS AV PRINCIPAL BALANCE 507,727,306.67 0.96824123
ORIGINAL CLASS AV PRINCIPAL BALANCE 524,381,000.00
CLASS AH-1 POOL FACTOR (I-5):
CURRENT CLASS AH-1 PRINCIPAL BALANCE 70,161,636.91
ORIGINAL CLASS AH-1 PRINCIPAL BALANCE 78,226,000.00 0.89690943
CLASS AH-2 POOL FACTOR (I-5):
CURRENT CLASS AH-2 PRINCIPAL BALANCE 14,086,000.00
ORIGINAL CLASS AH-2 PRINCIPAL BALANCE 14,086,000.00 1.00000000
CLASS AH-3 POOL FACTOR (I-5):
CURRENT CLASS AH-3 PRINCIPAL BALANCE 25,358,000.00
ORIGINAL CLASS AH-3 PRINCIPAL BALANCE 25,358,000.00 1.00000000
CLASS AH-4 POOL FACTOR (I-5):
CURRENT CLASS AH-4 PRINCIPAL BALANCE 11,345,000.00
ORIGINAL CLASS AH-4 PRINCIPAL BALANCE 11,345,000.00 1.00000000
CLASS AH-5 POOL FACTOR (I-5):
CURRENT CLASS AH-5 PRINCIPAL BALANCE 9,470,000.00
ORIGINAL CLASS AH-5 PRINCIPAL BALANCE 9,470,000.00 1.00000000
CLASS AH-6 POOL FACTOR (I-5):
CURRENT CLASS AH-6 PRINCIPAL BALANCE 13,002,000.00
ORIGINAL CLASS AH-6 PRINCIPAL BALANCE 13,002,000.00 1.00000000
CLASS MH-1 POOL FACTOR (I-5):
CURRENT CLASS MH-1 PRINCIPAL BALANCE 15,899,000.00
ORIGINAL CLASS MH-1 PRINCIPAL BALANCE 15,899,000.00 1.00000000
CLASS MH-2 POOL FACTOR (I-5):
CURRENT CLASS MH-2 PRINCIPAL BALANCE 14,955,000.00
ORIGINAL CLASS MH-2 PRINCIPAL BALANCE 14,955,000.00 1.00000000
CLASS BH POOL FACTOR (I-5):
CURRENT CLASS BH PRINCIPAL BALANCE 16,396,000.00
ORIGINAL CLASS BH PRINCIPAL BALANCE 16,396,000.00 1.00000000
POOL III FACTOR (I-5):
CURRENT POOL III PRINCIPAL BALANCE 190,672,636.91
ORIGINAL POOL III PRINCIPAL BALANCE 198,737,000.00 0.95942193
22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE
POOL I 10.871%
POOL II 10.007%
POOL III 12.978%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS
POOL I 10.256%
POOL II 9.282%
POOL III 12.478%
(C) WEIGHTED AVERAGE CLASS AF-1, CLASS AF-2, CLASS AF-3, CLASS AF-4, CLASS AF-5, CLASS AF-6,
CLASS AF-7, CLASS AF-8 AND CLASS AF-9 ADJUST MORTGAGE LOAN REMITTANCE RATE 6.328%
CLASS AV ADJUSTED MORTGAGE LOAN REMITTANCE RATE 5.865%
CLASS AH-1, CALSS AH-2, CLASS AH-3, CLASS AH-4, CLASS AH-5, CLASS AH-6,
CLASS MH-1, CLASS MH-2 AND CLAS BH ADJUSTED MORTGAGE LOAN REMITTANCE RATE 6.443%
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 08/31/98 09/30/98
------------------------
POOL I 10.876% 10.871%
POOL II 9.997% 10.007%
POOL III 12.977% 12.978%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
23. CLASS AV REMITTANCE RATE 5.73984%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS AV N/A
24. LIBOR RATE 5.58984%
25. CLASS AV NET FUNDS CAP 9.307%
26. CLASS AV CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER 0.00
27. (A) AMOUNT OF DISTRIBUTION ALLOCABLE TO LIBOR
INTEREST CARRYOVER 0.00
(B) LIBOR INTEREST CARRYOVER BALANCE 0.00
28. POOL III TRIGGER EVENT IN EFFECT
29.(A) SENIOR PERCENTAGE 100.00%
CLASS B PERCENTAGE 0.00
30. (A) POOL III AGGREGATE APPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-1 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-2 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-3 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-4 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-5 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS AH-6 APPLIED REALIZED LOSS AMOUNT
CLASS MH-1 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS MH-2 APPLIED REALIZED LOSS AMOUNT 0.00
CLASS BH APPLIED REALIZED LOSS AMOUNT 0.00
(B) POOL III AGGREGATE UNAPPLIED REALIZED LOSS AMOUNT
CLASS AH-1 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS AH-2 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS AH-3 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS AH-4 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS AH-5 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS AH-6 UNAPAID REALIZED LOSS AMOUNT
CLASS MH-1 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS MH-2 UNAPAID REALIZED LOSS AMOUNT 0.00
CLASS BH UNAPAID REALIZED LOSS AMOUNT
31. POOL III ACCELERATED PRINCIPAL DISTRIBUTION AMOUNT
32. (A) AMOUNT TO BE DEPOSITED INTO THE FHA PREMIUM ACCOUNT
FOR THE DUE PERIOD 10,368.43
(B) AMOUNT REIMBURURSABLE TO THE SERVICER
FROM THE FHA ACCOUNT PUSUANT TO 6.06(b)(i) 57.20
33. AMOUNT OF FHA PAYMENTS AND RELATED PAYMENTS
RECEIVED DURING THE DUE PERIOD 0.00
34. THE RESERVE AMOUNT FOR THE DUE PERIOD
35. CLAIMS FILED DURING THE DUE PERIOD 0.00
36. CLAIMS PAID DURING THE PERIOD 0.00
37. CLAIMS DENIED BY FHA DURING THE DUE PERIOD 0.00
38. CLAIMS PENDING PAYMENT BY FHA DURING THE DUE PERIOD 0.00
39. NUMBER OF ALL DEFAULTED MORTGAGE LOANS PURCHACHED DURING THE DUE PERIOD 0.00
PRINCIPAL BALANCE OF ALL DEFAULTED MORTGAGE LOANS PURCHACHED DURING THE D 0.00
</TABLE>
<PAGE>
EXHIBIT O ( POOL I )
REMIC DELINQUENCIES AS OF -SEPTEMBER 30, 1998
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNT RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1998-B-I $512,634,424.83 10,725 1 TO 29 DAYS 47,719,865.62 1070 9.31%
30 TO 59 DAYS 6,806,748.53 136 1.33%
60 TO 89 DAYS 2,449,196.02 43 0.48%
90 AND OVER 707,984.57 9 0.14%
FORECLOSURE 193,910.00 3 0.04%
REO PROPERTY 0.00 0 0.00%
TOTALS $57,877,704.74 1,261 11.29%
=========================================
</TABLE>
EXHIBIT O ( POOL II )
REMIC DELINQUENCIES AS OF -SEPTEMBER 30, 1998
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNT RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1998-B-II $510,518,320.18 5,762 1 TO 29 DAYS 51,448,089.64 566 10.08%
30 TO 59 DAYS 6,484,481.72 77 1.27%
60 TO 89 DAYS 2,793,304.57 38 0.55%
90 AND OVER 391,111.95 4 0.08%
FORECLOSURE 131,562.31 3 0.03%
REO PROPERTY 0.00 0 0.00%
TOTALS $61,248,550.19 688 12.00%
==========================================
</TABLE>
<PAGE>
EXHIBIT O ( POOL III )
REMIC DELINQUENCIES AS OF -SEPTEMBER 30, 1998
<TABLE>
<CAPTION>
REMIC OUTSTANDING #
SERIES DOLLARS ACCOUNT RANGES AMOUNT NO PCT
<S> <C> <C> <C> <C> <C> <C>
1998-B-III 192,548,485.44 10503 1 TO 29 DAYS 27,631,613.32 1581 14.35%
30 TO 59 DAYS 3,196,888.22 166 1.66%
60 TO 89 DAYS 1,387,503.99 76 0.72%
90 AND OVER 952,939.41 38 0.49%
FORECLOSURE 0.00 0 0.00%
REO PROPERTY 0.00 0 0.00%
TOTALS $33,168,944.94 1861 17.23%
===================================
</TABLE>
<PAGE>
1998-B
The following additional information, presented in dollars, pursuant to Secton
6.10 subclauses (ii), (vi), (vii), (viii), (xiii), (xv), (xxxvi) is provided for
each Class per $1,000 original dollar amount as of the Cut-off Date
<TABLE>
<CAPTION>
POOL I
SUBCLAUSE CLASS AF-1 CLASS AF-2 CLASS AF-3 CLASS AF-4 CLASS AF-5 CLASS AF-6 CLASS AF-7
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
(ii) 929.15 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
(vi) 53.41 0.00 0.00 0.00 0.00 0.00 0.00
(vii) 10.15 0.00 0.00 0.00 0.00 0.00 0.00
(viii) 5.70 0.00 0.00 0.00 0.00 0.00 0.00
(xiii) (a) 4.87 5.10 5.03 5.10 5.19 5.26 5.54
(b) 87.95 0.00 0.00 0.00 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(xv) 841.20 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
<TABLE>
Pool I Pool II Pool III
SUBCLAUSE CLASS AF-8 CLASS AF-9 CLASS AV CLASS AH-1 CLASS AH-2 CLASS AH-3
- ----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 987.71 952.40 1,000.00 1,000.00
(vi) 0.00 0.00 13.25 33.44 0.00 0.00
(vii) 0.00 0.00 13.25 33.44 0.00 0.00
(viii) 0.00 0.00 0.42 6.19 0.00 0.00
(xiii) (a) 5.09 5.28 4.72 4.88 5.00 5.06
(b) 0.00 0.00 19.47 55.49 0.00 0.00
(c) 0.00 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00 0.00
(xv) 1,000.00 1,000.00 968.24 896.91 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
<TABLE>
POOL III
SUBCLAUSE CLASS AH-4 CLASS AH-5 CLASS AH-6 CLASS MH-1 CLASS MH-2 CLASS BH
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
(ii) 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
(vi) 0.00 0.00 0.00 0.00 0.00 0.00
(vii) 0.00 0.00 0.00 0.00 0.00 0.00
(viii) 0.00 0.00 0.00 0.00 0.00 0.00
(xiii) (a) 5.15 5.27 5.46 5.50 5.88 6.58
(b) 0.00 0.00 0.00 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00 0.00 0.00
(xv) 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
(xxxvi) 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
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