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) : March 25, 1998
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-24327 13-3416059
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation or organization) Identification No.)
250 Vesey Street
World Financial Center, North Tower
New York, NY 10281
(Address of principal executive offices)
Registrant's telephone number, including area code : (212) 449-1000
N/A
(Former name or former address, if changed since last report.)
Page 1 of 4
This report consists of 25 consecutively numbered pages.
<PAGE>
Item 5. Other Events.
This report and the attached exhibit is being filed with respect to
the Registrant's Golden National Mortgage Loan Asset Backed Certificates,
Series 1998-GN1 (the "Certificates") pursuant to "no-action" positions
taken by the Securities and Exchange Commission with respect to alternative
means of satisfying the Registrant's reporting obligations under the
Securities Exchange Act of 1934, as amended. The Certificates were issued,
and this report and exhibits are being filed, pursuant to the terms of the
Pooling and Servicing Agreement, dated as of February 1, 1998, among
Merrill Lynch Mortgage Investors, Inc., as depositor, Golden National
Mortgage Banking Corp., as master servicer, and The Chase Manhattan
Bank, as trustee. On March 25, 1998, April 27, 1998, May 26, 1998,
June 25, 1998, July 27, 1998, August 25, 1998 and September 25, 1998
distributions were made to the Certificateholders.
Specific information with respect to the distributions is filed as
Exhibits 99.1, 99.2, 99.3, 99.4, 99.5, 99.6, and 99.7. No other reportable
transactions or matters have occurred during the current reporting period.
Item 7. Financial Statements and Exhibits.
(a) Not applicable
(b) Not applicable
(c) The following exhibits are filed as part of this report:
Statement to Certificateholders on March 25, 1998 filed
as Exhibit 99.1 hereto.
Statement to Certificateholders on April 27, 1998 filed
as Exhibit 99.2 hereto.
Statement to Certificateholders on May 26, 1998 filed
as Exhibit 99.3 hereto.
Statement to Certificateholders on June 25, 1998 filed
as Exhibit 99.4 hereto.
Statement to Certificateholders on July 27, 1998 filed
as Exhibit 99.5 hereto.
Statement to Certificateholders on August 25, 1998 filed
as Exhibit 99.6 hereto.
Statement to Certificateholders on September 25, 1998 filed
as Exhibit 99.7 hereto.
-2-
<PAGE>
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.
THE CHASE MANHATTAN BANK,
not in its individual capacity but solely
as Trustee under the Agreement referred
to herein
Date: October 7, 1998 By: /s/Thomas J. Provenzano
-----------------------------
Thomas J. Provenzano
Assistant Vice President
-3-
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits Page
99.1 Monthly Certificateholder Statement on
March 25, 1998 5
99.2 Monthly Certificateholder Statement on
April 25, 1998 8
99.3 Monthly Certificateholder Statement on 11
May 26, 1998
99.4 Monthly Certificateholder Statement on 14
June 25, 1998
99.5 Monthly Certificateholder Statement on 17
July 27, 1998
99.6 Monthly Certificateholder Statement on 20
August 25, 1998
99.7 Monthly Certificateholder Statement on 23
September 25, 1998
-4-
<PAGE>
Exhibit 99.1
Monthly Certificateholder Statement on March 25, 1998
-5-
<PAGE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 25-MAR-98 PAGE # 1
RECORD DATE: 12-Mar-98
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Certificate Certificate Principal Interest Total Realized Loss Certificate
Class Cusip # Balance Balance Distribution Distribution Distribution Principal Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
A 589929PJ1 118,900,000.00 118,900,000.00 333,397.15 704,482.50 1,037,879.65 0.00 0.00 118,566,602.85
M-1 589929PK8 13,041,000.00 13,041,000.00 0.00 82,919.03 82,919.03 0.00 0.00 13,041,000.00
M-2 589929PL6 11,507,000.00 11,507,000.00 0.00 76,905.12 76,905.12 0.00 0.00 11,507,000.00
B 589929PM4 9,972,000.00 9,972,000.00 0.00 73,501.95 73,501.95 0.00 0.00 9,972,000.00
R-I N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-II N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-III N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 153,420,000.00 153,420,000.00 333,397.15 937,808.59 1,271,205.74 0.00 0.00 153,086,602.85
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Notional Notional Interest Total Notional
Class Cusip # Amount Amount Distribution Distribution Balance
- -----------------------------------------------------------------------------------------------------------------------------------
C N/A 155,756,800.00 155,756,800.00 0.00 0.00 155,633,721.86
- -----------------------------------------------------------------------------------------------------------------------------------
Factor Information Per $1,000 Pass Through Rate
- ------------------------------------------------------------------------------
Principal Interest End Prin Current
Class Distribution Distribution Balance Pass Through Rate
- ------------------------------------------------------------------------------
A 2.80401304 5.92500000 997.19598696 7.11000000%
M-1 0.00000000 6.35833333 1000.00000000 7.63000000%
M-2 0.00000000 6.68333333 1000.00000000 8.02000000%
B 0.00000000 7.37083333 1000.00000000 8.84500000%
- ------------------------------------------------------------------------------
If there are any questions or comments, please contact the Relationship Manager
listed below.
---------------------------------------
NINA VELASTEGUI
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7600
---------------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-6-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 25-MAR-98 PAGE # 2
RECORD DATE: 12-Mar-98
SECTION 4.02 (iii) DISTRIBUTION SHORTFALL
-------------------------------
CLASS SHORTFALL AMOUNT
-------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
-------------------------------
SECTION 4.02 (iv) ENDING NUMBER OF ALL LOANS 982.00
ENDING AGGREGATE PRINCIPAL BALANCE 155,633,722.05
SECTION 4.02 (vi) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
-------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
1 MONTH 13 2,122,210.41
2 MONTHS 1 154,535.54
3+ MONTHS 0 0.00
FORECLOSURE 0 0.00
-------------------------------------------
THREE-MONTH ROLLING DELINQUENCY AVERAGE 51,511.85
SIXTY-DAY DELINQUENCY AMOUNT 154,535.54
-------------------------------------------
SECTION 4.02 (vii) CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
REO 0 0.00
-------------------------------------------
SECTION 4.02 (viii) AGGREGATE ACCRUED CERTIFICATE INTEREST REMAINING UNPAID 0.00
--------------------------------------------
CLASS ACCRUED UNPAID INTEREST
--------------------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
--------------------------------------------
SECTION 4.02 (ix) REQUIRED OVERCOLLATERALIZATION AMOUNT 7,009,056.00
OVERCOLLATERALIZATION AMOUNT 2,547,119.20
SECTION 4.02 (x) CURRENT AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (%) 0.00%
SECTION 4.02 (xi) AGGREGATE AMOUNT OF ANY RECOVERIES ON PREVIOUSLY -
FORECLOSED LOANS DUE TO A BREACH OF REPRESENTATION OR WARRANTY
SECTION 4.02 (xii) WEIGHTED AVERAGE REMAINING TERM 349.26
SECTION 4.02 (xiii) WEIGHTED AVERAGE NET MORTGAGE RATE 8.845652%
SECTION 4.02 (xv) MASTER SERVICER FEE 32,449.33
SECTION 4.02 (xvi) INTEREST REMITTANCE AMOUNT 1,148,127.60
SECTION 4.02 (xvii) PRINCIPAL REMITTANCE AMOUNT 123,078.14
SECTION 4.02 (xviii)HAS SERVICING TERMINATION TRIGGER? NO
SECTION 4.02 (xix) AGGREGATE MONTHLY ADVANCES 18,859.41
SECTION 4.02 (xx) REPURCHASED MORTGAGE LOANS 0.00
-------------------------------
COUNT AGG. PRIN. BAL.
-------------------------------
0 0.00
-------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-7-
<PAGE>
Exhibit 99.2
Monthly Certificateholder Statement on April 27, 1998
-8-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 27-Apr-98 PAGE # 1
RECORD DATE: 31-Mar-98
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Certificate Certificate Principal Interest Total Realized Loss Certificate
Class Cusip # Balance Balance Distribution Distribution Distribution Principal Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
A 589929PJ1 118,900,000.00 118,566,602.85 845,946.24 702,507.12 1,548,453.36 0.00 0.00 117,720,656.61
M-1 589929PK8 13,041,000.00 13,041,000.00 0.00 82,919.03 82,919.03 0.00 0.00 13,041,000.00
M-2 589929PL6 11,507,000.00 11,507,000.00 0.00 76,905.12 76,905.12 0.00 0.00 11,507,000.00
B 589929PM4 9,972,000.00 9,972,000.00 0.00 73,501.95 73,501.95 0.00 0.00 9,972,000.00
R-I N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-II N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-III N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL 153,420,000.00 153,086,602.85 845,946.24 935,833.21 1,781,779.45 0.00 0.00 152,240,656.61
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Notional Notional Interest Total Notional
Class Cusip # Amount Amount Distribution Distribution Balance
- -----------------------------------------------------------------------------------------------------------------------------------
C N/A 155,756,800.00 155,633,721.86 0.00 0.00 154,999,279.58
- -----------------------------------------------------------------------------------------------------------------------------------
Factor Information Per $1,000 Pass Through Rate
- ------------------------------------------------------------------------------
Principal Interest End Prin Current
Class Distribution Distribution Balance Pass Through Rate
- -------------------------------------------------------------------------
A 7.11477073 5.90838622 990.08121623 7.11000000%
M-1 0.00000000 6.35833333 1000.00000000 7.63000000%
M-2 0.00000000 6.68333333 1000.00000000 8.02000000%
B 0.00000000 7.37083333 1000.00000000 8.84500000%
- -------------------------------------------------------------------------
If there are any questions or comments, please contact the Relationship Manager
listed below.
---------------------------------------
NINA VELASTEGUI
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7600
---------------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-9-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 27-APR-98 PAGE # 2
RECORD DATE: 31-Mar-98
SECTION 4.02 (iii) DISTRIBUTION SHORTFALL
-------------------------------
CLASS SHORTFALL AMOUNT
-------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
-------------------------------
SECTION 4.02 (iv) ENDING NUMBER OF ALL LOANS 980
ENDING AGGREGATE PRINCIPAL BALANCE 154,999,279.77
SECTION 4.02 (vi) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
-------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
1 MONTH 10 1,557,244.86
2 MONTHS 5 975,220.38
3+ MONTHS 0 0.00
FORECLOSURE 0 0.00
-------------------------------------------
THREE-MONTH ROLLING DELINQUENCY AVERAGE 376,585.31
SIXTY-DAY DELINQUENCY AMOUNT 975,220.38
-------------------------------------------
SECTION 4.02 (vii) CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
REO 0 0.00
-------------------------------------------
SECTION 4.02 (viii) AGGREGATE ACCRUED CERTIFICATE INTEREST REMAINING UNPAID 0.00
--------------------------------------------
CLASS ACCRUED UNPAID INTEREST
--------------------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
--------------------------------------------
SECTION 4.02 (ix) REQUIRED OVERCOLLATERALIZATION AMOUNT 7,009,056.00
OVERCOLLATERALIZATION AMOUNT 2,758,623.16
SECTION 4.02 (x) CURRENT AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (%) 0.00%
SECTION 4.02 (xi) AGGREGATE AMOUNT OF ANY RECOVERIES ON PREVIOUSLY -
FORECLOSED LOANS DUE TO A BREACH OF REPRESENTATION OR WARRANTY
SECTION 4.02 (xii) WEIGHTED AVERAGE REMAINING TERM 347.13
SECTION 4.02 (xiii) WEIGHTED AVERAGE NET MORTGAGE RATE 8.846916%
SECTION 4.02 (xv) MASTER SERVICER FEE 32,423.70
SECTION 4.02 (xvi) INTEREST REMITTANCE AMOUNT 1,147,337.17
SECTION 4.02 (xvii) PRINCIPAL REMITTANCE AMOUNT 634,442.28
SCHEDULED PRIINCIPAL REMITTANCE AMOUNT 99,541.69
UNSCHEDULED PRINCIPAL REMITTANCE AMOUNT 534,900.59
SECTION 4.02 (xviii)HAS SERVICING TERMINATION TRIGGER? NO
SECTION 4.02 (xix) AGGREGATE MONTHLY ADVANCES 20,014.90
SECTION 4.02 (xx) REPURCHASED MORTGAGE LOANS 250,214.15
-------------------------------
COUNT AGG. PRIN. BAL.
-------------------------------
1 250,214.15
-------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-10-
<PAGE>
Exhibit 99.3
Monthly Certificateholder Statement on May 26, 1998
-11-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 26-May-98 PAGE # 1
RECORD DATE: 30-Apr-98
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Certificate Certificate Principal Interest Total Realized Loss Certificate
Class Cusip # Balance Balance Distribution Distribution Distribution Principal Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
A 589929PJ1 118,900,000.00 117,720,656.61 948,831.41 697,494.89 1,646,326.30 0.00 0.00 116,771,825.20
M-1 589929PK8 13,041,000.00 13,041,000.00 0.00 82,919.03 82,919.03 0.00 0.00 13,041,000.00
M-2 589929PL6 11,507,000.00 11,507,000.00 0.00 76,905.12 76,905.12 0.00 0.00 11,507,000.00
B 589929PM4 9,972,000.00 9,972,000.00 0.00 73,501.95 73,501.95 0.00 0.00 9,972,000.00
R-I N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-II N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-III N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL 153,420,000.00 152,240,656.61 948,831.41 930,820.99 1,879,652.40 0.00 0.00 151,291,825.20
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Notional Notional Interest Total Notional
Class Cusip # Amount Amount Distribution Distribution Balance
- -----------------------------------------------------------------------------------------------------------------------------------
C N/A 155,756,800.00 154,999,279.58 0.00 0.00 154,262,423.25
- -----------------------------------------------------------------------------------------------------------------------------------
Factor Information Per $1,000 Pass Through Rate
- ------------------------------------------------------------------------------
Principal Interest End Prin Current
Class Distribution Distribution Balance Pass Through Rate
- -------------------------------------------------------------------------
A 7.98007914 5.86623120 982.10113709 7.11000000%
M-1 0.00000000 6.35833372 1000.00000000 7.63000000%
M-2 0.00000000 6.68333362 1000.00000000 8.02000000%
B 0.00000000 7.37083333 1000.00000000 8.84500000%
- -------------------------------------------------------------------------
If there are any questions or comments, please contact the Relationship Manager
listed below.
---------------------------------------
NINA VELASTEGUI
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7600
---------------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-12-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 26-MAY-98 PAGE # 2
RECORD DATE: 30-Apr-98
SECTION 4.02 (iii) DISTRIBUTION SHORTFALL
-------------------------------
CLASS SHORTFALL AMOUNT
-------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
-------------------------------
SECTION 4.02 (iv) ENDING NUMBER OF ALL LOANS 975
ENDING AGGREGATE PRINCIPAL BALANCE 154,262,423.44
SECTION 4.02 (vi) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
-------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
1 MONTH 17 2,994,616.74
2 MONTHS 2 248,549.34
3+ MONTHS 1 186,939.54
FORECLOSURE 0 0.00
-------------------------------------------
THREE-MONTH ROLLING DELINQUENCY AVERAGE 521,748.27
SIXTY-DAY DELINQUENCY AMOUNT 435,488.88
-------------------------------------------
SECTION 4.02 (vii) CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
REO 0 0.00
-------------------------------------------
SECTION 4.02 (viii) AGGREGATE ACCRUED CERTIFICATE INTEREST REMAINING UNPAID 0.00
--------------------------------------------
CLASS ACCRUED UNPAID INTEREST
--------------------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
--------------------------------------------
SECTION 4.02 (ix) REQUIRED OVERCOLLATERALIZATION AMOUNT 7,009,056.00
OVERCOLLATERALIZATION AMOUNT 2,970,598.24
SECTION 4.02 (x) CURRENT AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (%) 0.00%
SECTION 4.02 (xi) AGGREGATE AMOUNT OF ANY RECOVERIES ON PREVIOUSLY -
FORECLOSED LOANS DUE TO A BREACH OF REPRESENTATION OR WARRANTY
SECTION 4.02 (xii) WEIGHTED AVERAGE REMAINING TERM 347.26
SECTION 4.02 (xiii) WEIGHTED AVERAGE NET MORTGAGE RATE 8.846027%
SECTION 4.02 (xv) MASTER SERVICER FEE 32,291.52
SECTION 4.02 (xvi) INTEREST REMITTANCE AMOUNT 1,142,796.06
SECTION 4.02 (xvii) PRINCIPAL REMITTANCE AMOUNT 736,856.33
SCHEDULED PRIINCIPAL REMITTANCE AMOUNT 100,087.84
UNSCHEDULED PRINCIPAL REMITTANCE AMOUNT 636,768.49
SECTION 4.02 (xviii)HAS SERVICING TERMINATION TRIGGER? NO
SECTION 4.02 (xix) AGGREGATE MONTHLY ADVANCES 27,918.47
SECTION 4.02 (xx) REPURCHASED MORTGAGE LOANS 0.00
-------------------------------
COUNT AGG. PRIN. BAL.
-------------------------------
0 0.00
-------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-13-
<PAGE>
Exhibit 99.4
Monthly Certificateholder Statement on June 25, 1998
-14-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 25-JUNE-98 PAGE # 1
RECORD DATE: 29-MAY-98
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Certificate Certificate Principal Interest Total Realized Loss Certificate
Class Cusip # Balance Balance Distribution Distribution Distribution Principal Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
A 589929PJ1 118,900,000.00 116,771,825.20 1,643,024.59 691,873.06 2,334,897.65 0.00 0.00 115,128,800.61
M-1 589929PK8 13,041,000.00 13,041,000.00 0.00 82,919.03 82,919.03 0.00 0.00 13,041,000.00
M-2 589929PL6 11,507,000.00 11,507,000.00 0.00 76,905.12 76,905.12 0.00 0.00 11,507,000.00
B 589929PM4 9,972,000.00 9,972,000.00 0.00 73,501.95 73,501.95 0.00 0.00 9,972,000.00
R-I N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-II N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-III N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL 153,420,000.00 151,291,825.20 1,643,024.59 925,199.16 2,568,223.75 0.00 0.00 149,648,800.61
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Notional Notional Interest Total Notional
Class Cusip # Amount Amount Distribution Distribution Balance
- -----------------------------------------------------------------------------------------------------------------------------------
C N/A 155,756,800.00 154,262,423.25 0.00 0.00 152,831,496.49
- -----------------------------------------------------------------------------------------------------------------------------------
Factor Information Per $1,000 Pass Through Rate
- ------------------------------------------------------------------------------
Principal Interest End Prin Current
Class Distribution Distribution Balance Pass Through Rate
- -------------------------------------------------------------------------
A 13.81854155 5.81894920 968.28259554 7.11000000%
M-1 0.00000000 6.35833372 1000.00000000 7.63000000%
M-2 0.00000000 6.68333362 1000.00000000 8.02000000%
B 0.00000000 7.37083333 1000.00000000 8.84500000%
- -------------------------------------------------------------------------
If there are any questions or comments, please contact the Relationship Manager
listed below.
---------------------------------------
NINA VELASTEGUI
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7600
---------------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-15-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 25-JUNE-98 PAGE # 2
RECORD DATE: 29-MAY-98
SECTION 4.02 (iii) DISTRIBUTION SHORTFALL
-------------------------------
CLASS SHORTFALL AMOUNT
-------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
-------------------------------
SECTION 4.02 (iv) ENDING NUMBER OF ALL LOANS 970
ENDING AGGREGATE PRINCIPAL BALANCE 152,831,496.68
SECTION 4.02 (vi) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
-------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
1 MONTH 9 1,340,731.51
2 MONTHS 9 1,538,644.07
3+ MONTHS 1 165,471.10
FORECLOSURE 1 186,939.54
-------------------------------------------
THREE-MONTH ROLLING DELINQUENCY AVERAGE 1,100,587.99
SIXTY-DAY DELINQUENCY AMOUNT 1,891,054.71
-------------------------------------------
SECTION 4.02 (vii) CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
REO 0 0.00
-------------------------------------------
SECTION 4.02 (viii) AGGREGATE ACCRUED CERTIFICATE INTEREST REMAINING UNPAID 0.00
--------------------------------------------
CLASS ACCRUED UNPAID INTEREST
--------------------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
--------------------------------------------
SECTION 4.02 (ix) REQUIRED OVERCOLLATERALIZATION AMOUNT 7,009,056.00
OVERCOLLATERALIZATION AMOUNT 3,182,696.07
SECTION 4.02 (x) CURRENT AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (%) 0.00%
SECTION 4.02 (xi) AGGREGATE AMOUNT OF ANY RECOVERIES ON PREVIOUSLY -
FORECLOSED LOANS DUE TO A BREACH OF REPRESENTATION OR WARRANTY
SECTION 4.02 (xii) WEIGHTED AVERAGE REMAINING TERM 346.23
SECTION 4.02 (xiii) WEIGHTED AVERAGE NET MORTGAGE RATE 8.847900%
SECTION 4.02 (xv) MASTER SERVICER FEE 32,138.03
SECTION 4.02 (xvi) INTEREST REMITTANCE AMOUNT 1,137,296.98
SECTION 4.02 (xvii) PRINCIPAL REMITTANCE AMOUNT 1,430,926.76
SCHEDULED PRIINCIPAL REMITTANCE AMOUNT 100,592.88
UNSCHEDULED PRINCIPAL REMITTANCE AMOUNT 1,330,333.88
SECTION 4.02 (xviii)HAS SERVICING TERMINATION TRIGGER? NO
SECTION 4.02 (xix) AGGREGATE MONTHLY ADVANCES 26,438.66
SECTION 4.02 (xx) REPURCHASED MORTGAGE LOANS 0.00
-------------------------------
COUNT AGG. PRIN. BAL.
-------------------------------
0 0.00
-------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-16-
<PAGE>
Exhibit 99.4
Monthly Certificateholder Statement on July 27, 1998
-17-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 27-JUL-98 PAGE # 1
RECORD DATE: 30-JUN-98
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Certificate Certificate Principal Interest Total Realized Loss Certificate
Class Cusip # Balance Balance Distribution Distribution Distribution Principal Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
A 589929PJ1 118,900,000.00 115,128,800.61 1,461,706.19 682,138.14 2,143,844.33 0.00 0.00 113,667,094.42
M-1 589929PK8 13,041,000.00 13,041,000.00 0.00 82,919.03 82,919.03 0.00 0.00 13,041,000.00
M-2 589929PL6 11,507,000.00 11,507,000.00 0.00 76,905.12 76,905.12 0.00 0.00 11,507,000.00
B 589929PM4 9,972,000.00 9,972,000.00 0.00 73,501.95 73,501.95 0.00 0.00 9,972,000.00
R-I N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-II N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-III N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL 153,420,000.00 149,648,800.61 1,461,706.19 915,464.24 2,377,170.43 0.00 0.00 148,187,094.42
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Notional Notional Interest Total Notional
Class Cusip # Amount Amount Distribution Distribution Balance
- -----------------------------------------------------------------------------------------------------------------------------------
C N/A 155,756,800.00 152,831,496.49 0.00 0.00 151,581,285.39
- -----------------------------------------------------------------------------------------------------------------------------------
Factor Information Per $1,000 Pass Through Rate
- ------------------------------------------------------------------------------
Principal Interest End Prin Current
Class Distribution Distribution Balance Pass Through Rate
- -------------------------------------------------------------------------
A 12.29357603 5.73707435 955.98901951 7.11000000%
M-1 0.00000000 6.35833372 1000.00000000 7.63000000%
M-2 0.00000000 6.68333362 1000.00000000 8.02000000%
B 0.00000000 7.37083333 1000.00000000 8.84500000%
- ------------------------------------------------------------------------
If there are any questions or comments, please contact the Relationship Manager
listed below.
---------------------------------------
NINA VELASTEGUI
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7600
---------------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-18-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 27-JULY-98 PAGE # 2
RECORD DATE: 30-JUNE-98
SECTION 4.02 (iii) DISTRIBUTION SHORTFALL
-------------------------------
CLASS SHORTFALL AMOUNT
-------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
-------------------------------
SECTION 4.02 (iv) ENDING NUMBER OF ALL LOANS 964
ENDING AGGREGATE PRINCIPAL BALANCE 151,581,285.58
SECTION 4.02 (vi) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
-------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
1 MONTH 12 1,873,575.98
2 MONTHS 3 478,358.20
3+ MONTHS 2 248,422.77
FORECLOSURE 5 850,623.07
-------------------------------------------
THREE-MONTH ROLLING DELINQUENCY AVERAGE 1,301,315.88
SIXTY-DAY DELINQUENCY AMOUNT 1,577,404.04
-------------------------------------------
SECTION 4.02 (vii) CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
REO 0 0.00
-------------------------------------------
SECTION 4.02 (viii) AGGREGATE ACCRUED CERTIFICATE INTEREST REMAINING UNPAID 0.00
--------------------------------------------
CLASS ACCRUED UNPAID INTEREST
--------------------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
--------------------------------------------
SECTION 4.02 (ix) REQUIRED OVERCOLLATERALIZATION AMOUNT 7,009,056.00
OVERCOLLATERALIZATION AMOUNT 3,394,191.16
SECTION 4.02 (x) CURRENT AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (%) 0.00%
SECTION 4.02 (xi) AGGREGATE AMOUNT OF ANY RECOVERIES ON PREVIOUSLY -
FORECLOSED LOANS DUE TO A BREACH OF REPRESENTATION OR WARRANTY
SECTION 4.02 (xii) WEIGHTED AVERAGE REMAINING TERM 344.22
SECTION 4.02 (xiii) WEIGHTED AVERAGE NET MORTGAGE RATE 8.847220%
SECTION 4.02 (xv) MASTER SERVICER FEE 31,839.89
SECTION 4.02 (xvi) INTEREST REMITTANCE AMOUNT 1,126,959.32
SECTION 4.02 (xvii) PRINCIPAL REMITTANCE AMOUNT 1,250,211.10
SCHEDULED PRIINCIPAL REMITTANCE AMOUNT 100,702.06
UNSCHEDULED PRINCIPAL REMITTANCE AMOUNT 1,149,509.04
SECTION 4.02 (xviii)HAS SERVICING TERMINATION TRIGGER? NO
SECTION 4.02 (xix) AGGREGATE MONTHLY ADVANCES 28,191.89
SECTION 4.02 (xx) REPURCHASED MORTGAGE LOANS 0.00
-------------------------------
COUNT AGG. PRIN. BAL.
-------------------------------
0 0.00
-------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-19-
<PAGE>
Exhibit 99.6
Monthly Certificateholder Statement on August 25, 1998
-20-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 25-AUG-98 PAGE # 1
RECORD DATE: 31-JUL-98
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Certificate Certificate Principal Interest Total Realized Loss Certificate
Class Cusip # Balance Balance Distribution Distribution Distribution Principal Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
A 589929PJ1 118,900,000.00 113,667,094.42 1,053,526.82 673,477.53 1,727,004.35 0.00 0.00 112,613,567.60
M-1 589929PK8 13,041,000.00 13,041,000.00 0.00 82,919.03 82,919.03 0.00 0.00 13,041,000.00
M-2 589929PL6 11,507,000.00 11,507,000.00 0.00 76,905.12 76,905.12 0.00 0.00 11,507,000.00
B 589929PM4 9,972,000.00 9,972,000.00 0.00 73,501.95 73,501.95 0.00 0.00 9,972,000.00
R-I N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-II N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-III N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
- ----------------------------------------------------------------------------------------------------------------------------
TOTAL 153,420,000.00 148,187,094.42 1,053,526.82 906,803.63 1,960,330.45 0.00 0.00 147,133,567.60
- ----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Notional Notional Interest Total Notional
Class Cusip # Amount Amount Distribution Distribution Balance
- -----------------------------------------------------------------------------------------------------------------------------------
C N/A 155,756,800.00 151,581,285.39 0.00 0.00 150,738,634.34
- -----------------------------------------------------------------------------------------------------------------------------------
Factor Information Per $1,000 Pass Through Rate
- ------------------------------------------------------------------------------
Principal Interest End Prin Current
Class Distribution Distribution Balance Pass Through Rate
- -------------------------------------------------------------------------
A 8.86061245 5.66423490 947.12840706 7.11000000%
M-1 0.00000000 6.35833372 1000.00000000 7.63000000%
M-2 0.00000000 6.68333362 1000.00000000 8.02000000%
B 0.00000000 7.37083333 1000.00000000 8.84500000%
- ------------------------------------------------------------------------
If there are any questions or comments, please contact the Relationship Manager listed below.
---------------------------------------
NINA VELASTEGUI
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7600
---------------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-21-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 25-AUG-98 PAGE # 2
RECORD DATE: 31-JULY-98
SECTION 4.02 (iii) DISTRIBUTION SHORTFALL
-------------------------------
CLASS SHORTFALL AMOUNT
-------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
-------------------------------
SECTION 4.02 (iv) ENDING NUMBER OF ALL LOANS 958
ENDING AGGREGATE PRINCIPAL BALANCE 150,738,634.53
SECTION 4.02 (vi) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
-------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
1 MONTH 23 3,996,511.67
2 MONTHS 3 418,959.25
3+ MONTHS 3 445,070.38
FORECLOSURE 5 850,623.07
-------------------------------------------
THREE-MONTH ROLLING DELINQUENCY AVERAGE 1,727,703.82
SIXTY-DAY DELINQUENCY AMOUNT 1,714,652.70
-------------------------------------------
SECTION 4.02 (vii) CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
REO 0 0.00
-------------------------------------------
SECTION 4.02 (viii) AGGREGATE ACCRUED CERTIFICATE INTEREST REMAINING UNPAID 0.00
--------------------------------------------
CLASS ACCRUED UNPAID INTEREST
--------------------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
--------------------------------------------
SECTION 4.02 (ix) REQUIRED OVERCOLLATERALIZATION AMOUNT 7,009,056.00
OVERCOLLATERALIZATION AMOUNT 3,605,066.93
SECTION 4.02 (x) CURRENT AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (%) 0.00%
SECTION 4.02 (xi) AGGREGATE AMOUNT OF ANY RECOVERIES ON PREVIOUSLY -
FORECLOSED LOANS DUE TO A BREACH OF REPRESENTATION OR WARRANTY
SECTION 4.02 (xii) WEIGHTED AVERAGE REMAINING TERM 343.08
SECTION 4.02 (xiii) WEIGHTED AVERAGE NET MORTGAGE RATE 8.846350%
SECTION 4.02 (xv) MASTER SERVICER FEE 31,579.43
SECTION 4.02 (xvi) INTEREST REMITTANCE AMOUNT 1,117,679.40
SECTION 4.02 (xvii) PRINCIPAL REMITTANCE AMOUNT 842,651.05
SCHEDULED PRIINCIPAL REMITTANCE AMOUNT 100,943.87
UNSCHEDULED PRINCIPAL REMITTANCE AMOUNT 741,707.18
SECTION 4.02 (xviii)HAS SERVICING TERMINATION TRIGGER? NO
SECTION 4.02 (xix) AGGREGATE MONTHLY ADVANCES 46,170.96
SECTION 4.02 (xx) REPURCHASED MORTGAGE LOANS 0.00
-------------------------------
COUNT AGG. PRIN. BAL.
-------------------------------
0 0.00
-------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-22-
<PAGE>
Exhibit 99.7
Monthly Certificateholder Statement on September 25, 1998
-23-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 25-SEPT-98 PAGE # 1
RECORD DATE: 31-AUG-98
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Certificate Certificate Principal Interest Total Realized Loss Certificate
Class Cusip # Balance Balance Distribution Distribution Distribution Principal Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
A 589929PJ1 118,900,000.00 112,613,567.60 2,037,498.24 667,235.39 2,704,733.63 0.00 0.00 110,576,069.36
M-1 589929PK8 13,041,000.00 13,041,000.00 0.00 82,919.03 82,919.03 0.00 0.00 13,041,000.00
M-2 589929PL6 11,507,000.00 11,507,000.00 0.00 76,905.12 76,905.12 0.00 0.00 11,507,000.00
B 589929PM4 9,972,000.00 9,972,000.00 0.00 73,458.99 73,458.99 0.00 0.00 9,972,000.00
R-I N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-II N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
R-III N/A N/A N/A N/A 0.00 0.00 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL 153,420,000.00 147,133,567.60 2,037,498.24 900,518.53 2,938,016.77 0.00 0.00 145,096,069.36
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Original Beginning Ending
Notional Notional Interest Total Notional
Class Cusip # Amount Amount Distribution Distribution Balance
- -----------------------------------------------------------------------------------------------------------------------------------
C N/A 155,756,800.00 150,738,634.34 0.00 0.00 148,911,938.64
- -----------------------------------------------------------------------------------------------------------------------------------
Factor Information Per $1,000 Pass Through Rate
- ------------------------------------------------------------------------------
Principal Interest End Prin Current
Class Distribution Distribution Balance Pass Through Rate
- -------------------------------------------------------------------------
A 17.13623415 5.61173583 929.99217292 7.11000000%
M-1 0.00000000 6.35833372 1000.00000000 7.63000000%
M-2 0.00000000 6.68333362 1000.00000000 8.02000000%
B 0.00000000 7.36652527 1000.00000000 8.83983000%
- ------------------------------------------------------------------------
If there are any questions or comments, please contact the Relationship Manager listed below.
---------------------------------------
NINA VELASTEGUI
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7600
---------------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-24-
<PAGE>
GOLDEN NATIONAL MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 1998-GN1
STATEMENT TO CERTIFICATEHOLDERS
DIST DATE: 25-SEPT-98 PAGE # 2
RECORD DATE: 31-AUG-98
SECTION 4.02 (iii) DISTRIBUTION SHORTFALL
-------------------------------
CLASS SHORTFALL AMOUNT
-------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
-------------------------------
SECTION 4.02 (iv) ENDING NUMBER OF ALL LOANS 948
ENDING AGGREGATE PRINCIPAL BALANCE 148,911,938.83
SECTION 4.02 (vi) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:
-------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
1 MONTH 21 3,380,952.92
2 MONTHS 7 1,426,050.29
3+ MONTHS 4 501,113.28
FORECLOSURE 7 1,208,415.87
-------------------------------------------
THREE-MONTH ROLLING DELINQUENCY AVERAGE 2,142,545.39
SIXTY-DAY DELINQUENCY AMOUNT 3,135,579.44
-------------------------------------------
SECTION 4.02 (vii) CATEGORY COUNT AGG. PRIN. BAL.
-------------------------------------------
REO 0 0.00
-------------------------------------------
SECTION 4.02 (viii) AGGREGATE ACCRUED CERTIFICATE INTEREST REMAINING UNPAID 0.00
--------------------------------------------
CLASS ACCRUED UNPAID INTEREST
--------------------------------------------
A 0.00
M-1 0.00
M-2 0.00
B 0.00
--------------------------------------------
SECTION 4.02 (ix) REQUIRED OVERCOLLATERALIZATION AMOUNT 7,009,056.00
OVERCOLLATERALIZATION AMOUNT 3,815,869.47
SECTION 4.02 (x) CURRENT AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (#) 0.00
CUMULATIVE AGGREGATE REALIZED LOSSES (%) 0.00%
SECTION 4.02 (xi) AGGREGATE AMOUNT OF ANY RECOVERIES ON PREVIOUSLY -
FORECLOSED LOANS DUE TO A BREACH OF REPRESENTATION OR WARRANTY
SECTION 4.02 (xii) WEIGHTED AVERAGE REMAINING TERM 342.03
SECTION 4.02 (xiii) WEIGHTED AVERAGE NET MORTGAGE RATE 8.839830%
SECTION 4.02 (xv) MASTER SERVICER FEE 31,403.88
SECTION 4.02 (xvi) INTEREST REMITTANCE AMOUNT 1,111,321.07
SECTION 4.02 (xvii) PRINCIPAL REMITTANCE AMOUNT 1,826,695.70
SCHEDULED PRIINCIPAL REMITTANCE AMOUNT 101,333.19
UNSCHEDULED PRINCIPAL REMITTANCE AMOUNT 1,725,362.51
SECTION 4.02 (xviii)HAS SERVICING TERMINATION TRIGGER? NO
SECTION 4.02 (xix) AGGREGATE MONTHLY ADVANCES 27,537.06
SECTION 4.02 (xx) REPURCHASED MORTGAGE LOANS 0.00
-------------------------------
COUNT AGG. PRIN. BAL.
-------------------------------
0 0.00
-------------------------------
GOLDEN NATIONAL MORTGAGE BANKING CORP.
SERVICER (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-25-
</TABLE>
