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SERVICER'S CERTIFICATE
IN ACCORDANCE WITH SECTION 6.10 OF THE POOLING AND SERVICING AGREEMENT DATED AS
OF AUGUST 31, 1998, THE MONEY STORE INC. REPORTS THE FOLLOWING INFORMATION
PERTAINING TO THE HOME IMPROVEMENT TRUST 1998-I FOR THE July 12, 2000
DETERMINATION DATE
$4,290,084.93
LESS: SERVICE FEE 24,349.56
CONTINGENCY FEE 24,349.56
OTHER SERVICER FEES (Late Charges / Escrow) 65,938.57
UNREIMBURSED MONTHLY ADVANCES 0.00
-----------------
114,637.69
PLUS: MONTHLY ADVANCE - INCLUDING
COMPENSATING INTEREST 60,895.68
PRE-FUNDING ACCOUNT TRANSFER 0.00
CAPITALIZED INTEREST ACCOUNT TRANSFER 0.00
----------------
60,895.68
AMOUNT WITHDRAWN FROM THE CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.01(b)(vi) 0.00
----------------
AVAILABLE REMITTANCE AMOUNT (I-2) 4,236,342.92
================
2. (A) CLASS AH PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 72,815,563.81
(B) CLASS MH-1 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 16,750,000.00
(C) CLASS MH-2 PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 15,250,000.00
(D) CLASS BH PRINCIPAL BALANCE AS REPORTED
IN PRIOR SERVICER'S CERTIFICATE 12,750,000.00
3. PRINCIPAL DISTRIBUTION AMOUNTS:
CLASS AH 3,473,875.36
CLASS MH-1 0.00
CLASS MH-2 0.00
CLASS BH 0.00
TOTAL PRINCIPAL DISTRIBUTION AMOUNT: 3,473,875.36
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4. THE AMOUNT ON DEPOSIT IN THE SPREAD ACCOUNT AND
THE SUPPLEMENTAL ACCOUNT
(A) BEFORE ALL DISTRIBUTIONS ARE MADE 0.00
(B) AFTER ALL DISTRIBUTIONS ARE MADE 0.00
5. (A) POOL SUBORDINATED AMOUNT 4,945,514.15
(B) POOL SPECIFIED SUBORDINATED AMOUNT 10,300,000.00
(C) POOL AVAILABLE MAXIMUM SUBORDINATED AMOUNT 10,365,776.00
6. PRINCIPAL PREPAYMENT RECEIVED DURING
THE DUE PERIOD
AMOUNT 2,287,756.81
# OF LOANS 137
7. AMOUNT OF CURTAILMENTS RECEIVED DURING
THE DUE PERIOD 133,893.96
8. AMOUNT OF EXCESS AND MONTHLY PAYMENTS
IN RESPECT OF PRINCIPAL RECEIVED DURING
THE DUE PERIOD 293,742.58
9. AMOUNT OF INTEREST RECEIVED 1,261,917.16
10. (A) AMOUNT OF MONTHLY ADVANCES TO BE MADE ON
THE DETERMINATION DATE
MONTHLY ADVANCE TO BE DEPOSITED IN THE CERTIFICATE
ACCOUNT PURSUANT TO SECTION 6.01(a)(ii) 60,895.68
(B) AMOUNT OF COMPENSATING INTEREST 89.98
11. DELINQUENT AND FORECLOSURE INFORMATION (EXHIBIT O)
12. AMOUNT OF REALIZED LOSSES DURING
THE DUE PERIOD 554,206.30
13. CLASS AH REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 447,977.53
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,473,875.36
TOTAL CLASS AH REMITTANCE AMOUNT 3,921,852.89
CLASS MH-1 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 107,218.61
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS MH-1 REMITTANCE AMOUNT 107,218.61
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CLASS MH-2 REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 100,328.06
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS MH-2 REMITTANCE AMOUNT 100,328.06
CLASS BH REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 96,347.50
(B) PRINCIPAL DISTRIBUTION AMOUNT 0.00
TOTAL CLASS BH REMITTANCE AMOUNT 96,347.50
AGGREGATE REMITTANCE AMOUNT:
(A) CURRENT INTEREST REQUIREMENT 751,871.70
(B) PRINCIPAL DISTRIBUTION AMOUNT 3,473,875.36
TOTAL REMITTANCE AMOUNT 4,225,747.06
CLASS AH INTEREST CARRYFORWARD AMOUNT 0.00
CLASS MH-I INTEREST CARRYFORWARD AMOUNT 0.00
CLASS MH-2 INTEREST CARRYFORWARD AMOUNT 0.00
CLASS BH INTEREST CARRYFORWARD AMOUNT 0.00
14. (A) THE REIMBURSABLE AMOUNTS 0.00
(B) CLASS X REMITTANCE AMOUNT PAYABLE
PURSUANT TO SECTION 6.08(d)(z)(xix) 0.00
15. (A) CLASS AH PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 69,341,688.45
(B) CLASS MH-1 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 16,750,000.00
(C) CLASS MH-2 PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 15,250,000.00
(D) CLASS BH PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 12,750,000.00
(E) TOTAL POOL PRINCIPAL BALANCE AFTER
DISTRIBUTION TO BE MADE ON THE
REMITTANCE DATE AND AFTER ALLOCATION
OF REALIZED LOSSES 114,091,688.45
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16. (A) MONTHLY EXCESS SPREAD PERCENTAGE 100.00%
(B) EXCESS SPREAD 520,282.60
(C) REMAINDER EXCESS SPREAD AMOUNT 0.00
17. CUMULATIVE REALIZED LOSSES 15,917,501.08
18. (A) WEIGHTED AVERAGE MATURITY 212.756
(B) WEIGHTED AVERAGE INTEREST RATE 12.982%
19. (A) SERVICING FEE FOR THE RELATED DUE PERIOD 24,349.56
(B) CONTINGENCY FEE FOR THE RELATED DUE PERIOD 24,349.56
(C) AMOUNT TO BE DEPOSITED TO THE EXPENSE ACCOUNT 1,959.43
(D) FHA PREMIUM ACCOUNT 8,636.44
(E) TRUST ADMINISTRATOR FEE 1,479.87
(F) FHA CUSTODIAN FEE 51.03
20. AMOUNT OF PAYMENTS AND REIMBURSEMENTS TO THE SERVICERS PURSUANT TO:
(A) SECTION 5.04 (b) 0.00
(B) SECTION 5.04 (c) 0.00
(C) SECTION 5.04 (d)(ii) 0.00
(D) SECTION 5.04 (e) 0.00
(E) SECTION 5.04 (f)(i) 48,699.12
21. CLASS AH POOL FACTOR (I-5):
CURRENT CLASS AH PRINCIPAL BALANCE 69,341,688.45 0.44664534
ORIGINAL CLASS AH PRINCIPAL BALANCE 155,250,000.00
CLASS MH-1 POOL FACTOR (I-5):
CURRENT CLASS MH-1 PRINCIPAL BALANCE 16,750,000.00 1.00000000
ORIGINAL CLASS MH-1 PRINCIPAL BALANCE 16,750,000.00
CLASS MH-2 POOL FACTOR (I-5):
CURRENT CLASS MH-2 PRINCIPAL BALANCE 15,250,000.00 1.00000000
ORIGINAL CLASS MH-2 PRINCIPAL BALANCE 15,250,000.00
CLASS BH POOL FACTOR (I-5):
CURRENT CLASS BH PRINCIPAL BALANCE 12,750,000.00 1.00000000
ORIGINAL CLASS BH PRINCIPAL BALANCE 12,750,000.00
POOL FACTOR:
CURRENT POOL PRINCIPAL BALANCE 114,091,688.45 0.57045844
ORIGINAL POOL PRINCIPAL BALANCE 200,000,000.00
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22. (A) WEIGHTED AVERAGE MORTGAGE INTEREST RATE 12.982%
(B) ADJUSTED MORTGAGE INTEREST RATE OF THE MORTGAGE LOANS 14.532%
(C) WEIGHTED AVERAGE CLASS AH, CLASS MH-1
CLASS MH-2 AND CLASS BH
ADJUSTED MORTGAGE LOAN REMITTANCE RATE 7.22308%
------------------------
(D) WEIGHTED AVERAGE MORTGAGE INTEREST RATE FOR 05/31/00 06/30/00
-------------------------
12.984% 12.982%
23. CLASS AH REMITTANCE RATE 6.92125%
CLASS MH-1 REMITTANCE RATE 7.20125%
CLASS MH-2 REMITTANCE RATE 7.40125%
CLASS BH REMITTANCE RATE 8.50125%
IF REMITTANCE RATES BASED ON THE NET FUNDS CAP
LIBOR PLUS MARGIN FOR CLASS AH
CLASS MH-1
CLASS MH-2
CLASS BH
24. LIBOR RATE 6.65125%
25. NET FUNDS CAP
26. (A) IF THE REMITTANCE RATE IS BASED ON NET FUNDS CAP
AMOUNT OF SUPPLEMENTAL PAYMENT FOR CLASS AH 0.00
CLASS MH-1 0.00
CLASS MH-2 0.00
CLASS BH 0.00
(B) CLASS AH CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER
CLASS MH-1 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER
CLASS MH-2 CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER
CLASS BH CERTIFICATEHOLDERS' LIBOR INTEREST CARRYOVER
27. (A) AMOUNT OF DISTRIBUTION ALLOCABLE TO LIBOR
INTEREST CARRYOVER FOR CLASS AH 0.00
CLASS MH-1 0.00
CLASS MH-2 0.00
CLASS BH 0.00
AGGREGATE DISTRIBUTION ALLOCABLE TO LIBOR INTEREST
CARRYOVER AMOUNT 0.00
(B) CLASS AH LIBOR INTEREST CARRYOVER BALANCE 0.00
CLASS MH-1 LIBOR INTEREST CARRYOVER BALANCE 0.00
CLASS MH-2 LIBOR INTEREST CARRYOVER BALANCE 0.00
CLASS BH LIBOR INTEREST CARRYOVER BALANCE 0.00
AGGREGATE LIBOR INTEREST CARRYOVER BALANCE 0.00
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28. IS TRIGGER EVENT IN EFFECT NO
29. CLASS A PERCENTAGE 100.00%
CLASS MH-1 PERCENTAGE 0.00%
CLASS MH-2 PERCENTAGE 0.00%
CLASS BH PERCENTAGE 0.00%
30. (A) POOL AGGREGATE APPLIED REALIZED LOSS AMOUNT
CLASS AH APPLIED REALIZED LOSS AMOUNT 0.00
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 AGGREGATE REALIZED LOSS AMOUNT
CLASS AH REALIZED LOSS AMOUNT 0.00
CLASS MH-1 REALIZED LOSS AMOUNT 0.00
CLASS MH-2 REALIZED LOSS AMOUNT 0.00
CLASS BH REALIZED LOSS AMOUNT 0.00
(C) POOL AGGREGATE UNPAID REALIZED LOSS AMOUNT
CLASS AH UNPAID REALIZED LOSS AMOUNT 0.00
CLASS MH-1 UNPAID REALIZED LOSS AMOUNT 0.00
CLASS MH-2 UNPAID REALIZED LOSS AMOUNT 0.00
CLASS BH UNPAID REALIZED LOSS AMOUNT 0.00
31. ACCELERATED PRINCIPAL DISTRIBUTION AMOUNT 593,603.21
32. (A) AMOUNT TO BE DEPOSITED INTO THE FHA PREMIUM ACCOUNT
FOR THE DUE PERIOD 8,636.44
(B) AMOUNT REIMBURSABLE TO THE SERVICER AND/OR THE
CERTIFICATE INSURER FROM THE FHA ACCOUNT PURSUANT
TO 6.06(b)(i) 15,094.35
33. AMOUNT OF FHA PAYMENTS AND RELATED PAYMENTS
RECEIVED DURING THE DUE PERIOD 170,426.80
34. THE RESERVE AMOUNT FOR THE DUE PERIOD 20,000,000.00
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 PURCHASED DURING
THE DUE PERIOD PRINCIPAL BALANCE OF ALL DEFAULTED MORTGAGE
LOANS PURCHASED DURING THE DUE PERIOD CERTIFICATE INSURER
FROM THE FHA ACCOUNT PURSUANT TO 6.06(b)(i) 0.00
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EXHIBIT O
REMIC DELINQUENCIES AS OF - June 30, 2000
HOME OUTSTANDING #
IMPROVEMENT DOLLARS ACCOUNTS RANGES AMOUNT NO PCT
1998-I $119,037,202.60 6,277 1 TO 29 DAYS 19,252,376.58 931 16.17%
30 TO 59 DAYS 3,029,233.61 154 2.54%
60 TO 89 DAYS 1,494,949.64 77 1.26%
90 AND OVER 3,292,148.52 162 2.77%
FORECLOSURE 473,191.37 22 0.40%
REO PROPERTY 141,644.75 7 0.12%
TOTALS $27,683,544.47 1,353 23.26%
=============================
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HOME IMPROVEMENT TRUST 1998-I
The following additional information, presented in dollars, pursuant to Section
6.10 subclauses (ii), (vi), (vii), (viii), (xiii), (xv), (xxii) is provided for
each Class per $1,000 original dollar amount as of the Cut-Off Date.
SUBCLAUSE CLASS AH CLASS MH-1 CLASS MH-2 CLASS BH
--------- -------- ---------- ---------- --------
(ii) 469.02 1,000.00 1,000.00 1,000.00
(vi) 14.74 0.00 0.00 0.00
(vii) 0.86 0.00 0.00 0.00
(viii) 1.83 0.00 0.00 0.00
(xiii) (a) 2.89 6.40 6.58 7.56
(b) 22.38 0.00 0.00 0.00
(c) 0.00 0.00 0.00 0.00
(d) 0.00 0.00 0.00 0.00
(xv) 446.65 1,000.00 1,000.00 1,000.00
(xxxv) 0.00 0.00 0.00 0.00
