<PAGE>
SECURITIES AND EXCHANGE COMMISSION
450 FIFTH STREET, NW
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
SEPTEMBER 25, 1997
(DATE OF EARLIEST EVENT REPORTED)
PNC MORTGAGE SECURITIES CORP.
AS DEPOSITOR AND MASTER SERVICER UNDER A
POOLING AND SERVICING AGREEMENT
DATED AS OF SEPTEMBER 1, 1997
PROVIDING FOR THE ISSUANCE OF
$695,684,820
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-6
Delaware 33-84896 36-4185795
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
Incorporation) Number)
75 NORTH FAIRWAY DRIVE
VERNON HILLS, ILLINOIS 60061
(Address of principal executive offices)
Registrant's telephone number, including area code:
(847) 549-6500
<PAGE>
Item 5. OTHER EVENTS
DESCRIPTION OF THE CERTIFICATES AND THE MORTGAGE POOL.
On September 25, 1997 (the "Closing Date"), PNC Mortgage Securities Corp.
(the "Company"), pursuant to a pooling and servicing agreement, dated as of
September 1, 1997, between the Company, PNC Bank, National Association and
U.S. Bank National Association, as trustee, caused the Mortgage Pass-Through
Certificates, Series 1997-6, to be issued (the "Certificates") which consist
of the following four classes: (i) Class I-A and Class II-A (together, the
"Class A Certificates" or the "Offered Certificates") and (ii) the Class I-R
and Class II-R Certificates (the "Residual Certificates"). Only the Class A
Certificates are offered to the public pursuant to the Company's Prospectus
dated September 18, 1997 (the "Base Prospectus"), and Prospectus Supplement
dated September 18, 1997 (the "Prospectus Supplement", and together with the
Base Prospectus, the "Prospectus").
The Certificates, other than the Class I-R and Class II-R Certificates,
evidence all the beneficial ownership interest in a trust (the "Trust")
established by the Company, the assets of which consist of a pool (the
"Mortgage Pool") of conventional, adjustable-rate one- to four-family
residential mortgage loans (the "Mortgage Loans") with original terms to
maturity of not more than 30 years and initial fixed-interest rate periods of
five years deposited and master serviced by the Company, two Reserve Funds
(as defined in the Prospectus), a Yield Supplement Account (as defined in the
Prospectus), a certificate guaranty insurance policy (the "Certificate
Insurance Policy") issued by MBIA Insurance Corporation (the "Certificate
Insurer") which, subject to its terms, will insure the receipt of certain
interest and principal distributions to be made with respect to the
Certificates with respect to each Distribution Date, in each case to the
extent not covered by the applicable Reserve Fund (subject to certain
limitations as specified in the Prospectus), and certain other assets, as
described in the Prospectus. The Reserve Fund for Loan Group I was
established in the amount of $5,713,731 and will provide Special Hazard
Coverage, Fraud Coverage and Bankruptcy Coverage to the Class A-1
Certificates in the amounts of $2,856,865, $5,713,731 and $110,667,
respectively. The Reserve Fund for Loan Group II was established in the
amount of $8,199,965 and will provide Special Hazard Coverage, Fraud Coverage
and Bankruptcy Coverage to the Class A-2 Certificates in the amounts of
$6,394,339, $8,199,965 and $148,720, respectively.
As described in the Prospectus, two separate REMIC elections have been
made in connection with the Trust for federal income tax purposes. Each
Class of Offered Certificates represent ownership of REMIC "regular
interests" in the related REMIC and each Class of Residual Certificates
represent ownership of the REMIC "residual interests" in the related REMIC.
See "Certain Federal Income Tax Consequences" in the Prospectus.
___________________________
Capitalized terms used herein and not otherwise defined shall have the
meanings assigned to them in the Prospectus, dated September 18, 1997, and
Prospectus Supplement, dated September 18, 1997, of PNC Mortgage Securities
Corp., relating to its Mortgage Pass-Through Certificates, Series 1997-6.
2
<PAGE>
The initial Class Principal Balance, initial Remittance Rate and Last
Scheduled Distribution Date for each Class of Offered Certificates is set
forth in the table below:
PRICE TO UNDERWRITING PROCEEDS TO
CLASS PUBLIC DISCOUNT (2) COMPANY (1)(3)
---------- ------------ ------------- --------------
Class I-A 99.9875% 0.25% 99.7375%
Class II-A 99.9748% 0.25% 99.7248%
Total $695,545,790 $1,739,212 $693,806,578
__________________________
(1) Plus accrued interest at the Class I-A or Class II-A Remittance Rate, as
applicable, from September 1, 1997.
(2) The Company has agreed to indemnify Goldman, Sachs & Co., Donaldson, Lufkin
& Jenrette Securities Corporation and PNC Capital Markets, Inc. (the
"Underwriters") against certain liabilities, including liabilities under
the Securities Act of 1933. Certain expenses of the Underwriters incurred
in connection with this offering will be paid for by PNC Bank, National
Association (the "Bank").
(3) Before deduction of expenses estimated to be $615,000.
__________________________
The Mortgage Pool consists of Mortgage Loans having an aggregate
principal balance outstanding as of September 1, 1997 (the "Cut-Off Date"),
after deducting payments due on or before that date, of approximately
$695,684,820. The Group I Loans and Group II Loans had an aggregate principal
balance outstanding as of the Cut-Off Date, after deducting payments due on
or before that date, of approximately $285,686,562 and $409,998,258,
respectively. Certain of the risks of loss on certain Mortgage Loans is
covered up to specified limits by Primary insurance Policies.
The Mortgage Loans are secured by first mortgages or first deeds of trust
or other similar security instruments creating first liens on one- to
four-family residential properties (the "Mortgaged Properties"), which may
include detached homes, duplexes, townhouses, individual condominium units,
individual units in planned unit developments and other attached dwelling
units which are part of buildings consisting of more than four units (so long
as the property subject to the lien of the related Mortgage consists of no
more than four units), and having the additional characteristics described
below and in the Prospectus. All of the Mortgage Loans were purchased by the
Company from the Bank.
Each Mortgage Loan is a conventional Mortgage Loan evidenced by a
Mortgage Note. Each such Mortgage Loan has an original term to maturity of
generally not more than 30 years, a fixed Mortgage Interest Rate (a "Fixed
Rate") during the initial five years of the Mortgage Loan and a Monthly
Payment during such period which will fully amortize the principal balance of
the Mortgage Loan over its original term to maturity. Each Mortgage Note
provides for adjustments to the Mortgage Interest Rate thereon at the end of
the initial Fixed Rate period and annually thereafter.
The Mortgage Interest Rate on each Mortgage Loan will adjust annually
commencing on the Due Date (as defined in the Prospectus) immediately prior
to the fifth anniversary of the first Due Date and thereafter on each
anniversary of the Due Date on
3
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which such adjustment occurred (each, an "Adjustment Date"). On each
Adjustment Date, the Mortgage Interest Rate will adjust to the sum of the
Index (as defined in the Prospectus) and the fixed percentage specified in
the applicable Mortgage Note (the "Gross Margin"), rounded to the nearest
one-eighth of one percent, subject to the limitation that with respect to
each Adjustment Date after the initial Adjustment Date, the Mortgage Interest
Rate after such adjustment may not vary from the Mortgage Interest Rate in
effect prior to such adjustment by more than two percentage points (the
"Periodic Cap"). In addition, adjustments to the Mortgage Interest Rate for
each Mortgage Loan are subject to a lifetime maximum interest rate (a "Rate
Ceiling") equal to the Fixed Rate plus between five and six and five-eights
percentage points. None of the Mortgage Loans specify a lifetime minimum
interest rate (a "Rate Floor"). Consequently, the minimum Mortgage Interest
Rate for each Mortgage Loan will be the Gross Margin for such Mortgage Loan.
Each Mortgage Loan is not assumable during the five-year fixed rate period;
however, each Mortgage Loan is assumable after its initial Adjustment Date.
On the first Due Date following each Adjustment Date, the Monthly Payment for
the Mortgage Loan will be adjusted, if necessary, to an amount that will
fully amortize such Mortgage Loan at the adjusted Mortgage Interest Rate over
its remaining scheduled term to maturity. The Group I Adjustment Date is
July 1, 2000 and the Group II Adjustment Date is October 1, 2001. Such dates
reflect the first date on which a Mortgage Loan in such Loan Group (as of the
Cut-Off Date) is scheduled to have its Mortgage Interest Rate adjusted and is
referred to in the Prospectus as the "Group Adjustment Date".
LOAN GROUP I
Each Group I Loan had a first payment date during the period from August
1, 1995 through October 1, 1996, inclusive, and has an original term to
maturity of not more than 30 years. As of the Cut-Off Date, none of the
Group I Loans had its initial Adjustment Date. The weighted average number
of months to the initial Adjustment Date is approximately 42.8 months. The
earliest and the latest month in which any Group I Loan will begin to accrue
interest at a Mortgage Interest Rate based on the Index is July 1, 2000 and
September 1, 2001, respectively. As of the Cut-Off Date, each of the Group I
Loans bears interest at a Fixed Rate ranging from 6.500% to 8.250% with a
weighted average of approximately 7.443% per annum. Each of the Group I
Loans has a Gross Margin of not less than 2.750% and not more than 2.875%,
and the weighted average of the Gross Margins is approximately 2.750%.
The highest Rate Ceiling for any Group I Loan is 13.250% and the lowest
Rate Ceiling is 11.500% and the weighted average of the Rate Ceilings is
12.578%. Each Group I Loan has a pass-through rate (the "Pass-Through Rate")
for any Distribution Date equal to the excess, if any, of the Mortgage
Interest Rate for such Mortgage Loan as of the first day of the month
preceding the month of such Distribution Date over the related Gross Fees (as
defined below). As of the Cut-Off Date, the Pass-Through Rate for each Group
I Loan was not less than 6.085% and not more than 7.835% per annum. As of
the Cut-Off Date, the weighted average of the Pass-Through Rates for the
Group I Loans was approximately 7.028% per annum.
4
<PAGE>
All of the Group I Loans have principal and interest payable on the first
day of each month (the "Due Date"). None of the Group I Loans are Buydown
Loans. The latest original scheduled maturity of any Group I Loan is
September 1, 2026. All of the Group I Loans had an original term to maturity
of 30 years, and as of the Cut-Off Date, the weighted average remaining term
to maturity of the Group I Loans was approximately 343 months. At
origination, based upon an appraisal of the Mortgaged Property securing each
Mortgage Loan, approximately 77.5% of the Group I Loans had Loan-to-Value
Ratios less than or equal to 80%, and approximately 22.5% of the Group I
Loans had Loan-to-Value Ratios greater than 80% but less than or equal to
95%. No Group I Loan had a Loan-to-Value Ratio at origination greater than
95%. At origination, the weighted average of the Loan-to-Value Ratios of the
Group I Loans was approximately 75.9%. As of the Cut-Off Date, the weighted
average of the Loan-to-Value Ratios of the Group I Loans was approximately
74.5%. As of the Cut-Off Date, approximately 22.5% of the Group I Loans are
covered by Primary Insurance Policies. All of the Group I Loans with
Loan-to-Value Ratios as of the Cut-Off Date in excess of 80% are covered by
Primary Insurance Policies. At origination, each Group I Loan had a
principal balance of not less than $20,050 nor more than $988,000, and the
average principal balance of the Group I Loans as of the Cut-Off Date was
approximately $269,008. Approximately 99.7% of the Group I Loans are secured
by owner-occupied Mortgaged Properties which are the primary residences of
the related Mortgagors, based solely on representations of the Mortgagors
obtained at the origination of the related Mortgage Loans, and approximately
0.3% of the Group I Loans are secured by owner-occupied Mortgaged Properties
which are second or vacation homes of the related Mortgagors, based solely on
such representations. None of the Group I Loans are secured by Mortgaged
Properties which are investor properties of the related Mortgagors, based
solely on such representations. The aggregate principal balance of Group I
Loans originated under a reduced documentation program, which generally
limits the original Loan-to-Value Ratio of such Mortgage Loan is
approximately $32,273,170, which is approximately 11.3% of Loan Group I. As
of the Cut-Off Date, the weighted average of the Loan-to-Value Ratios at
origination of such Mortgage Loans originated under a reduced documentation
program was approximately 67.0%.
Approximately 33.9% of the Group I Loans are secured by Mortgaged
Properties located in California; 9.1%, in Connecticut; 7.0%, in Ohio; 5.7%,
in Pennsylvania; 5.6%, in New Jersey; 5.1%, in Illinois; and no other single
state contains Mortgaged Properties securing more than 5% of the Group I
Loans. No more than 1.0% of the Group I Loans is secured by Mortgaged
Properties located in any one California zip code area, and no more than 1.2%
of the Group I Loans is secured by Mortgaged Properties located in any other
single zip code area. Approximately 34.1% of the Group I Loans were
originated for the purpose of refinancing existing mortgage debt, including
cash-out refinancings. Approximately 65.9% of the Group I Loans were
originated for the purpose of purchasing the Mortgaged Property.
LOAN GROUP II
Each Group II Loan had a first payment date during the period from
November 1, 1996 through July 1, 1997, inclusive, and has an original term to
maturity of not more than 30 years. As of the Cut-Off Date, none of the
Group II Loans had its initial Adjustment
5
<PAGE>
Date. The weighted average number of months to the initial Adjustment Date
is approximately 51.7 months. The earliest and the latest month in which any
Group II Loan will begin to accrue interest at a Mortgage Interest Rate based
on the Index is October 1, 2001 and June 1, 2002, respectively. As of the
Cut-Off Date, each of the Group II Loans bear interest at a Fixed Rate
ranging from 6.500% to 8.250% with a weighted average of approximately 7.461%
per annum. Each of the Group II Loans has a Gross Margin of not less than
2.750% and not more than 3.000%, and the weighted average of the Gross
Margins is approximately 2.750%.
The highest Rate Ceiling for any Group II Loan is 13.250% and the lowest
Rate Ceiling is 11.500% and the weighted average of the Rate Ceilings is
12.461%. As of the Cut-Off Date, the Pass-Through Rate for each Group II
Loan was not less than 6.095% and not more than 7.845% per annum. As of the
Cut-Off Date, the weighted average of the Pass-Through Rates for the Group II
Loans was approximately 7.056% per annum.
All of the Group II Loans have principal and interest payable on the
first day of each month (the "Due Date"). None of the Group II Loans are
Buydown Loans. The latest original scheduled maturity of any Group II Loan
is June 1, 2027. Except for one Group II Loan (which has an original term to
maturity of 20 years), each of the Group II Loans had an original term to
maturity of 30 years, and as of the Cut-Off Date, the weighted average
remaining term to maturity of the Group II Loans was approximately 352
months. At origination, based upon an appraisal of the Mortgaged Property
securing each Mortgage Loan, approximately 82.4% of the Group II Loans had
Loan-to-Value Ratios less than or equal to 80%, and approximately 17.6% of
the Group II Loans had Loan-to-Value Ratios greater than 80% but less than or
equal to 95%. No Group II Loan had a Loan-to-Value Ratio at origination
greater than 95%. At origination, the weighted average of the Loan-to-Value
Ratios of the Group II Loans was approximately 75.4%. As of the Cut-Off
Date, the weighted average of the Loan-to-Value Ratios of the Group II Loans
was approximately 74.8%. As of the Cut-Off Date, approximately 17.6% of the
Group II Loans are covered by Primary Insurance Policies. All of the Group
II Loans with Loan-to-Value Ratios as of the Cut-Off Date in excess of 80%
are covered by Primary Insurance Policies. At origination, each Group II
Loan had a principal balance of not less than $37,900 nor more than $985,000,
and the average principal balance of the Group II Loans as of the Cut-Off
Date was approximately $310,370. Approximately 99.9% of the Group II Loans
are secured by owner-occupied Mortgaged Properties which are the primary
residences of the related Mortgagors, based solely on representations of the
Mortgagors obtained at the origination of the related Mortgage Loans, and
approximately 0.1% of the Group II Loans are secured by owner-occupied
Mortgaged Properties which are second or vacation homes of the related
Mortgagors, based solely on such representations. None of the Group II Loans
are secured by Mortgaged Properties which are investor properties of the
related Mortgagors, based solely on such representations. The aggregate
principal balance of Group II Loans originated under a reduced documentation
program, which generally limits the original Loan-to-Value Ratio of such
Mortgage Loan is approximately $35,784,951, which is approximately 8.7% of
Loan Group II. As of the Cut-Off Date, the weighted average of the
Loan-to-Value Ratios at origination of such Mortgage Loans originated under a
reduced documentation program was approximately 64.5%.
6
<PAGE>
Approximately 31.9% of the Group II Loans are secured by Mortgaged
Properties located in California; 9.3%, in New Jersey; 8.7%, in Connecticut;
7.1%, in Pennsylvania; and no other single state contains Mortgaged
Properties securing more than 5% of the Group II Loans. No more than 1.6% of
the Group II Loans is secured by Mortgaged Properties located in any one
California zip code area, and no more than 1.1% of the Group II Loans is
secured by Mortgaged Properties located in any other single zip code area.
Approximately 32.5% of the Group II Loans were originated for the purpose of
refinancing existing mortgage debt, including cash-out refinancings.
Approximately 67.5% of the Group II Loans were originated for the purpose of
purchasing the Mortgaged Property.
The Servicing Fee with respect to each Mortgage Loan is 0.250%. The
Master Servicing Fee with respect to each Mortgage Loan is 0.050%.
In addition, on each Distribution Date following the Put Date for each
Loan Group, a Supplemental Fee will be paid with respect to each Mortgage
Loan in the related Loan Group. This Supplemental Fee equals 1.335% on each
Mortgage Loan in Loan Group I and 1.345% on each Mortgage Loan in Loan Group
II and will be in addition to the Servicing Fee, Master Servicing Fee and
Premium Payment Rate. The payment of the Supplemental Fee on each
Distribution Date following the applicable Put Date may significantly lower
the Remittance Rate on the related Class of Offered Certificates, thereby
increasing the likelihood that Certificateholders will exercise the Put
Option and consequently increasing the likelihood that the Bank will exercise
the Clean-Up Option or the Certificate Insurer will exercise the Certificate
Insurer Clean-Up Option. The Supplemental Fee will be payable to the Bank.
The Premium Payment Rate with respect to each Mortgage Loan in a Loan
Group is the rate at which the fee payable to the Certificate Insurer is
calculated.
For each Mortgage Loan and for each Distribution Date, the "Gross Fees"
will equal the sum of the applicable (a) Servicing Fee, (b) Master Servicing
Fee, -C- Supplemental Fee (for any Distribution Date after the applicable Put
Date) and (d) Premium Payment Rate. The Gross Fees with respect to each
Mortgage Loan in Loan Group I will equal 0.415% for any Distribution Date on
or prior to the Put Date, and 1.750% thereafter. The Gross Fees with respect
to each Mortgage Loan in Loan Group II will equal 0.405% for any Distribution
Date on or prior to the Put Date, and 1.750% thereafter.
The following tables describe additional characteristics of the Mortgage
Loans for each Loan Group as of the Cut-Off Date. All percentages set forth
below have been calculated based on the principal balance of the Mortgage
Loans in the applicable Loan Group as of the Cut-Off Date. Note that the sum
of the percentages set forth under the heading "% of Aggregate Balance of
Loan Group" in each of the tables that follow may not equal 100% due to
rounding.
7
<PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
The following exhibit is furnished herewith:
4.1 Pooling and Servicing Agreement between PNC Mortgage
Securities Corp., Depositor and Master Servicer, PNC Bank,
National Association and U.S. Bank National Association,
Trustee, dated as of September 1, 1997.
8
<PAGE>
a) Number of loans: 1062
b) Mortgage Interest Rates:
1997-6
Group I
AGGREGATE PERCENTAGE
MORTGAGE NUMBER BALANCES AS OF AGGREGATE
INTEREST OF OF THE CUT- BALANCE OF
RATE (MIR) LOANS OFF DATE THE POOL
---------- ------ ---------------- ------------
6.500% 38 $ 8,727,662.83 3.05 %
6.625% 28 $ 7,738,281.87 2.71 %
6.750% 49 $ 13,806,060.98 4.83 %
6.875% 69 $ 18,243,712.50 6.39 %
7.000% 68 $ 19,365,085.99 6.78 %
7.125% 75 $ 20,088,799.37 7.03 %
7.250% 83 $ 22,775,094.11 7.97 %
7.375% 73 $ 20,582,649.58 7.20 %
7.500% 114 $ 29,991,087.61 10.50 %
7.625% 80 $ 21,983,563.63 7.69 %
7.750% 104 $ 27,255,908.05 9.54 %
7.875% 132 $ 36,538,137.72 12.79 %
8.000% 67 $ 16,694,544.07 5.84 %
8.125% 51 $ 13,404,629.16 4.69 %
8.250% 31 $ 8,491,345.18 2.97 %
----- ---------------- -----------
TOTAL 1062 $ 285,686,562.65 100.00 %
9
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c) Pass-Through Rates:
1997-6
Group I
AGGREGATE WEIGHTED AVERAGE
BALANCES AS WEIGHTED SCHEDULED
RANGE OF OF THE CUT- AVERAGE REMAINING TERM
PASS-THROUGH RATES OFF DATE MIRS (in months)
------------------ -------------- ----------- ----------------
6.001 - 6.250% $ 16,465,944.70 6.559% 340
6.251 - 6.500% $ 32,049,773.48 6.821% 342
6.501 - 6.750% $ 39,453,885.36 7.064% 341
6.751 - 7.000% $ 43,357,743.69 7.309% 341
7.001 - 7.250% $ 51,974,651.24 7.553% 343
7.251 - 7.500% $ 63,794,045.77 7.822% 344
7.501 - 7.750% $ 30,099,173.23 8.056% 346
7.751 - 8.000% $ 8,491,345.18 8.250% 346
--------------- ------ ------
$285,686,562.65 7.443% * 343 *
* Represents a weighted average (by principal balance) of all the
Mortgage Loans.
10
<PAGE>
d) First Interest Adjustment Date:
1997-6
Group I
MONTH LOAN PRINCIPAL PCT TO
/YEAR COUNT BALANCE POOL
----- ----- --------- ------
07/2000 93 $20,504,664.47 7.18
08/2000 57 $13,398,342.63 4.69
09/2000 52 $13,264,790.56 4.64
10/2000 13 $3,245,917.95 1.14
11/2000 23 $6,776,884.90 2.37
12/2000 34 $10,110,372.94 3.54
01/2001 45 $15,940,243.26 5.58
02/2001 40 $13,421,094.71 4.70
03/2001 45 $13,500,099.18 4.73
04/2001 79 $22,343,181.37 7.82
05/2001 123 $33,055,665.57 11.57
06/2001 102 $26,933,828.43 9.43
07/2001 44 $10,987,335.09 3.85
08/2001 117 $28,791,426.20 10.08
09/2001 195 $53,412,715.39 18.70
----- -------------- -------
TOTAL 1062 $285,686,562.65 100.00
11
<PAGE>
e) Gross Margins:
1997-6
Group I
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
GROSS OF OF THE CUT- BALANCE OF
MARGIN LOANS OFF DATE POOL
-------- ------ ---------------- ------------
2.750% 1061 $ 285,435,877.82 99.91 %
2.875% 1 $ 250,684.83 0.09 %
------ ---------------- ------------
TOTAL 1062 $ 285,686,562.65 100.00 %
12
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f) Interest Rate Ceiling:
1997-6
Group I
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
CEILING OF OF THE CUT- BALANCE OF
RATE LOANS OFF DATE POOL
------ ------ ---------------- ------------
11.500% 25 $ 5,824,220.71 2.04 %
11.625% 17 $ 5,282,620.19 1.85 %
11.750% 40 $ 11,391,557.75 3.99 %
11.875% 54 $ 14,910,446.92 5.22 %
12.000% 49 $ 14,648,933.25 5.13 %
12.125% 59 $ 16,264,608.85 5.69 %
12.250% 61 $ 17,405,911.03 6.09 %
12.375% 51 $ 14,809,244.93 5.18 %
12.500% 92 $ 24,683,581.36 8.64 %
12.625% 65 $ 19,146,598.23 6.70 %
12.750% 121 $ 31,473,094.55 11.02 %
12.875% 118 $ 31,988,158.55 11.20 %
13.000% 57 $ 14,556,453.75 5.10 %
13.125% 222 $ 54,634,835.21 19.12 %
13.175% 1 $ 358,088.74 0.13 %
13.250% 30 $ 8,308,208.63 2.91 %
------ ---------------- ------------
TOTAL 1062 $ 285,686,562.65 100.00 %
13
<PAGE>
g) Original Principal Balances:
1997-6
Group I
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
ORIGINAL OF OF THE CUT- BALANCE OF
BALANCES LOANS OFF DATE POOL
------------------- ------ ---------------- ------------
$ 50,000 OR LESS 9 $ 346,858.82 0.12 %
$ 50,001 - 75,000 42 $ 2,692,804.55 0.94 %
$ 75,001 - 100,000 66 $ 5,779,405.06 2.02 %
$100,001 - 150,000 100 $ 12,057,084.42 4.22 %
$150,001 - 200,000 87 $ 14,921,426.92 5.22 %
$200,001 - 250,000 239 $ 53,448,329.17 18.71 %
$250,001 - 300,000 189 $ 50,712,575.12 17.75 %
$300,001 - 350,000 106 $ 33,787,931.73 11.83 %
$350,001 - 400,000 62 $ 22,827,180.14 7.99 %
$400,001 - 450,000 47 $ 19,282,151.80 6.75 %
$450,001 - 500,000 33 $ 15,563,884.37 5.45 %
OVER $500,000 82 $ 54,266,930.55 19.00 %
------ ---------------- ------------
TOTAL 1,062 $ 285,686,562.65 100.00 %
Outstanding principal balance of the smallest Mortgage Loan
at the Cut-Off Date: $ 7,704.78
Outstanding principal balance of the largest Mortgage Loan
at the Cut-Off Date: $ 977,354.82
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h) Years of initial Monthly Payment:
1997-6
Group I
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE
YEAR NUMBER BALANCES AS OF AGGREGATE
OF OF OF THE CUT- BALANCE OF
PAYMENT LOANS OFF DATE POOL
------- ------ ---------------- ------------
<S> <C> <C> <C>
1995 238 $ 57,190,600.51 20.02 %
1996 824 $ 228,495,962.14 79.98 %
------ ---------------- ------------
TOTAL 1062 $ 285,686,562.65 100.00 %
</TABLE>
15
<PAGE>
i) Current Loan-to-Value Ratios:
1997-6
Group I
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE
CURRENT NUMBER BALANCES AS OF AGGREGATE
LOAN-TO-VALUE OF OF THE CUT- BALANCE OF
RATIOS LOANS OFF DATE POOL
-------------- ------ ---------------- ------------
<S> <C> <C> <C>
60.00% OR LESS 115 $ 36,915,063.03 12.92 %
60.01-70.00% 131 $ 43,236,729.24 15.13 %
70.01-75.00% 135 $ 40,986,349.07 14.35 %
75.01-80.00% 378 $ 100,754,793.52 35.27 %
80.01-85.00% 28 $ 6,405,499.11 2.24 %
85.01-90.00% 163 $ 33,334,509.46 11.67 %
90.01-95.00% 112 $ 24,053,619.22 8.42 %
------ ---------------- ------------
TOTAL 1062 $ 285,686,562.65 100.00 %
</TABLE>
16
<PAGE>
j)Types of Mortgaged Properties:
1997-6
Group I
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
PROPERTY OF OF THE CUT- BALANCE OF
TYPES LOANS OFF DATE POOL
------------ ------ ----------------- ------------
<S> <C> <C> <C>
SINGLE FAMILY DETACHED 970 $ 268,898,665.19 94.12 %
DUPLEX 8 $ 1,539,009.36 0.54 %
TRIPLEX 2 $ 381,766.96 0.13 %
FOURPLEX 4 $ 328,993.12 0.12 %
TOWNHOUSE 12 $ 2,860,921.16 1.00 %
CONDOMINIUM 66 $ 11,677,206.86 4.09 %
------ ----------------- ------------
TOTAL 1062 $ 285,686,562.65 100.00 %
</TABLE>
17
<PAGE>
k) Owner Occupancy
1997-6
Group I
CODE LOAN PRINCIPAL PCT TO
COUNT BALANCE POOL
---- ----- --------- ------
OWNER OCCUPIED 1057 $284,705,503.11 99.66
OWNER OCCUPIED - 2ND HOME 5 $981,059.54 .34
----- -------------- -------
TOTAL 1062 $285,686,562.65 100.00
18
<PAGE>
l) Geographic Distribution by state:
1997-6
Group I
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
OF OF THE CUT- BALANCE OF
STATE LOANS OFF DATE POOL
-------------------- ------ ----------------- ------------
ALABAMA 2 $ 456,368.40 0.16 %
ARIZONA 7 $ 1,375,717.90 0.48 %
CALIFORNIA 285 $ 96,722,304.51 33.86 %
COLORADO 24 $ 6,706,277.35 2.35 %
CONNECTICUT 75 $ 26,062,792.85 9.12 %
DELAWARE 5 $ 840,376.94 0.29 %
DISTRICT OF COLUMBIA 2 $ 630,542.68 0.22 %
FLORIDA 31 $ 8,128,660.60 2.85 %
GEORGIA 27 $ 5,143,366.60 1.80 %
HAWAII 1 $ 351,822.36 0.12 %
ILLINOIS 64 $ 14,478,778.28 5.07 %
INDIANA 11 $ 2,628,176.84 0.92 %
IOWA 1 $ 123,488.06 0.04 %
KANSAS 18 $ 3,646,779.36 1.28 %
KENTUCKY 23 $ 5,952,533.79 2.08 %
LOUISIANA 2 $ 297,734.42 0.10 %
MARYLAND 13 $ 3,438,382.89 1.20 %
MASSACHUSETTS 39 $ 10,461,292.97 3.66 %
MICHIGAN 23 $ 6,308,797.80 2.21 %
MINNESOTA 1 $ 482,990.71 0.17 %
MISSOURI 31 $ 3,458,142.79 1.21 %
MONTANA 8 $ 1,464,602.61 0.51 %
NEVADA 3 $ 657,186.01 0.23 %
NEW JERSEY 59 $ 15,948,529.65 5.58 %
NEW MEXICO 3 $ 591,418.27 0.21 %
NEW YORK 15 $ 4,293,419.42 1.50 %
NORTH CAROLINA 16 $ 3,914,696.18 1.37 %
OHIO 76 $ 19,991,709.56 7.00 %
OKLAHOMA 16 $ 2,072,456.30 0.73 %
OREGON 2 $ 645,307.37 0.23 %
PENNSYLVANIA 76 $ 16,419,421.26 5.75 %
SOUTH CAROLINA 1 $ 90,975.78 0.03 %
TENNESSEE 30 $ 6,217,482.42 2.18 %
TEXAS 32 $ 6,780,899.10 2.37 %
UTAH 7 $ 2,069,250.36 0.72 %
VIRGINIA 14 $ 3,428,325.14 1.20 %
WASHINGTON 5 $ 1,106,286.72 0.39 %
WEST VIRGINIA 2 $ 276,511.23 0.10 %
WISCONSIN 10 $ 1,336,585.77 0.47 %
WYOMING 2 $ 686,171.40 0.24 %
------ ----------------- ------------
TOTAL 1062 $ 285,686,562.65 100.00 %
19
<PAGE>
m) Scheduled maturity years:
1997-6
Group I
AGGREGATE PERCENTAGE
YEAR NUMBER BALANCES AS OF AGGREGATE
OF OF OF THE CUT- BALANCE OF
MATURITY LOANS OFF DATE POOL
-------- ------ ------------------ ------------
2025 272 $ 67,300,973.45 23.56 %
2026 790 $ 218,385,589.20 76.44 %
------ ------------------ ------------
TOTAL 1062 $ 285,686,562.65 100.00 %
Weighted average (by principal balance) remaining term
(adjusted for curtailments) of the Mortgage Loans
calculated as of the Cut-Off Date: 339 months
Latest scheduled maturity of any Mortgage Loan:
September, 2026
20
<PAGE>
n) Original Terms:
1997-6
Group I
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
LOAN TERM OF OF THE CUT- BALANCE OF
(IN MONTHS) LOANS OFF DATE POOL
--------------- ------ ---------------- ------------
360 1062 $ 285,686,562.65 100.00 %
------ ---------------- ------------
TOTAL 1062 $ 285,686,562.65 100.00 %
21
<PAGE>
o) Loan Purpose Type:
1997-6
Group I
LOAN LOAN PRINCIPAL PCT TO
TYPE COUNT BALANCE POOL
----- ----- --------- ------
PURCHASE LOANS 778 $188,273,785.84 65.90
EXISTING LOAN REFI'S 76 $22,166,301.53 7.76
HOME IMPROVEMENT REFI'S 9 $2,592,008.08 .91
CASH OUT REFI'S 199 $72,654,467.20 25.43
----- -------------- -------
TOTAL 1062 $285,686,562.65 100.00
22
<PAGE>
p) Documentation Program Types:
1997-6
Group I
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
OF OF THE CUT- BALANCE OF
LOAN TYPE LOANS OFF DATE POOL
------------------------- ------ ---------------- ------------
FULL DOCUMENTATION 980 $ 253,413,392.48 88.70 %
LIMITED DOCUMENTATION 82 $ 32,273,170.17 11.30 %
------ ---------------- ------------
TOTAL 1062 $ 285,686,562.65 100.00 %
23
<PAGE>
a) Number of loans: 1321
b) Mortgage Interest Rates:
1997-6
Group II
AGGREGATE PERCENTAGE
MORTGAGE NUMBER BALANCES AS OF AGGREGATE
INTEREST OF OF THE CUT- BALANCE OF
RATE (MIR) LOANS OFF DATE THE POOL
---------- ------ ---------------- ------------
6.500% 41 $ 12,557,489.23 3.06 %
6.625% 28 $ 7,723,003.55 1.88 %
6.750% 47 $ 14,581,129.18 3.56 %
6.875% 59 $ 16,035,883.13 3.91 %
7.000% 64 $ 20,407,100.81 4.98 %
7.125% 55 $ 18,307,310.16 4.47 %
7.250% 96 $ 29,861,218.65 7.28 %
7.375% 112 $ 34,716,379.53 8.47 %
7.500% 198 $ 66,575,736.17 16.24 %
7.625% 212 $ 66,136,119.20 16.13 %
7.750% 160 $ 51,399,886.72 12.54 %
7.875% 154 $ 46,711,525.12 11.39 %
8.000% 52 $ 12,479,882.12 3.04 %
8.125% 29 $ 8,348,699.18 2.04 %
8.250% 14 $ 4,156,895.58 1.01 %
----- ---------------- -----------
TOTAL 1321 $ 409,998,258.33 100.00 %
24
<PAGE>
c) Pass-Through Rates:
1997-6
Group II
AGGREGATE WEIGHTED AVERAGE
BALANCES AS WEIGHTED SCHEDULED
RANGE OF OF THE CUT- AVERAGE REMAINING TERM
PASS-THROUGH RATES OFF DATE MIRS (in months)
------------------ -------------- ----------- ----------------
6.001 - 6.250% $ 20,280,492.78 6.548% 352
6.251 - 6.500% $ 30,617,012.31 6.815% 352
6.501 - 6.750% $ 38,714,410.97 7.059% 352
6.751 - 7.000% $ 64,577,598.18 7.317% 351
7.001 - 7.250% $132,711,855.37 7.562% 352
7.251 - 7.500% $ 98,111,411.84 7.810% 352
7.501 - 7.750% $ 20,828,581.30 8.050% 351
7.751 - 8.000% $ 4,156,895.58 8.250% 350
--------------- ------ ------
$409,998,258.33 7.461% * 352 *
* Represents a weighted average (by principal balance) of all the
Mortgage Loans.
25
<PAGE>
d) First Interest Adjustment Date:
1997-6
Group II
MONTH LOAN PRINCIPAL PCT TO
/YEAR COUNT BALANCE POOL
----- ----- --------- ------
10/2001 182 $51,609,632.96 12.59
11/2001 266 $81,184,641.54 19.80
12/2001 234 $73,450,242.76 17.91
01/2002 239 $73,513,947.87 17.93
02/2002 147 $48,990,693.58 11.95
03/2002 109 $35,225,885.94 8.59
04/2002 100 $33,804,393.47 8.25
05/2002 42 $11,648,784.67 2.84
06/2002 2 $570,035.54 .14
----- -------------- -------
TOTAL 1321 $409,998,258.33 100.00
26
<PAGE>
e) Gross Margins:
1997-6
Group II
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
GROSS OF OF THE CUT- BALANCE OF
MARGIN LOANS OFF DATE POOL
-------- ------ ---------------- ------------
2.750% 1319 $ 409,263,296.45 99.82 %
2.875% 1 $ 495,959.05 0.12 %
3.000% 1 $ 239,002.83 0.06 %
------ ---------------- ------------
TOTAL 1321 $ 409,998,258.33 100.00 %
27
<PAGE>
f) Interest Rate Ceiling:
1997-6
Group II
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
CEILING OF OF THE CUT- BALANCE OF
RATE LOANS OFF DATE POOL
------ ------ ---------------- ------------
11.500% 41 $ 12,557,489.23 3.06 %
11.625% 28 $ 7,723,003.55 1.88 %
11.750% 47 $ 14,581,129.18 3.56 %
11.875% 59 $ 16,035,883.13 3.91 %
12.000% 64 $ 20,407,100.81 4.98 %
12.125% 55 $ 18,307,310.16 4.47 %
12.250% 96 $ 29,861,218.65 7.28 %
12.375% 113 $ 35,079,367.63 8.56 %
12.500% 198 $ 66,575,736.17 16.24 %
12.625% 212 $ 66,136,119.20 16.13 %
12.750% 160 $ 51,399,886.72 12.54 %
12.875% 153 $ 46,348,537.02 11.30 %
13.000% 52 $ 12,479,882.12 3.04 %
13.125% 29 $ 8,348,699.18 2.04 %
13.250% 14 $ 4,156,895.58 1.01 %
------ ---------------- ------------
TOTAL 1321 $ 409,998,258.33 100.00 %
28
<PAGE>
g) Original Principal Balances:
1997-6
Group II
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
ORIGINAL OF OF THE CUT- BALANCE OF
BALANCES LOANS OFF DATE POOL
------------------- ------ ---------------- ------------
$ 50,000 OR LESS 9 $ 381,013.25 0.09 %
$ 50,001 - 75,000 27 $ 1,709,132.90 0.42 %
$ 75,001 - 100,000 40 $ 3,516,351.92 0.86 %
$100,001 - 150,000 62 $ 7,725,132.40 1.88 %
$150,001 - 200,000 36 $ 6,343,324.67 1.55 %
$200,001 - 250,000 340 $ 77,985,519.80 19.02 %
$250,001 - 300,000 273 $ 74,555,516.04 18.18 %
$300,001 - 350,000 161 $ 51,807,243.39 12.64 %
$350,001 - 400,000 110 $ 41,229,554.51 10.06 %
$400,001 - 450,000 71 $ 30,129,702.19 7.35 %
$450,001 - 500,000 49 $ 23,484,362.87 5.73 %
OVER $500,000 143 $ 91,131,404.39 22.23 %
------ ---------------- ------------
TOTAL 1,321 $ 409,998,258.33 100.00 %
Outstanding principal balance of the smallest Mortgage Loan
at the Cut-Off Date: $ 37,652.94
Outstanding principal balance of the largest Mortgage Loan
at the Cut-Off Date: $ 978,579.09
29
<PAGE>
h) Years of initial Monthly Payment:
1997-6
Group II
AGGREGATE PERCENTAGE
YEAR NUMBER BALANCES AS OF AGGREGATE
OF OF OF THE CUT- BALANCE OF
PAYMENT LOANS OFF DATE POOL
------- ------ ---------------- ------------
1996 448 $ 132,794,274.50 32.39 %
1997 873 $ 277,203,983.83 67.61 %
------ ---------------- ------------
TOTAL 1321 $ 409,998,258.33 100.00 %
30
<PAGE>
i) Current Loan-to-Value Ratios:
1997-6
Group II
AGGREGATE PERCENTAGE
CURRENT NUMBER BALANCES AS OF AGGREGATE
LOAN-TO-VALUE OF OF THE CUT- BALANCE OF
RATIOS LOANS OFF DATE POOL
-------------- ------ ---------------- ------------
60.00% OR LESS 130 $ 43,798,037.30 10.68 %
60.01-70.00% 179 $ 62,501,695.54 15.24 %
70.01-75.00% 199 $ 58,648,374.98 14.30 %
75.01-80.00% 538 $ 174,015,172.59 42.44 %
80.01-85.00% 18 $ 5,300,110.26 1.29 %
85.01-90.00% 164 $ 45,483,185.78 11.09 %
90.01-95.00% 93 $ 20,251,681.88 4.94 %
------ ---------------- ------------
TOTAL 1321 $ 409,998,258.33 100.00 %
31
<PAGE>
j) Types of Mortgaged Properties:
1997-6
Group II
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
PROPERTY OF OF THE CUT- BALANCE OF
TYPES LOANS OFF DATE POOL
------------ ------ ----------------- ------------
SINGLE FAMILY DETACHED 1220 $ 386,153,574.31 94.18 %
DUPLEX 7 $ 2,357,079.05 0.57 %
TRIPLEX 3 $ 412,171.11 0.10 %
FOURPLEX 1 $ 177,422.68 0.04 %
TOWNHOUSE 13 $ 2,633,291.03 0.64 %
CONDOMINIUM 77 $ 18,264,720.15 4.45 %
------ ----------------- ------------
TOTAL 1321 $ 409,998,258.33 100.00 %
32
<PAGE>
k) Owner Occupancy:
1997-6
Group II
CODE LOAN PRINCIPAL PCT TO
COUNT BALANCE POOL
---- ----- --------- ------
OWNER OCCUPIED 1319 $409,718,129.31 99.93
OWNER OCCUPIED - 2ND HOME 2 $280,129.02 .07
----- -------------- -------
TOTAL 1321 $409,998,258.33 100.00
33
<PAGE>
l) Geographic Distribution by state:
1997-6
Group II
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
OF OF THE CUT- BALANCE OF
STATE LOANS OFF DATE POOL
-------------------- ------ ----------------- ------------
ALABAMA 1 $ 135,282.86 0.03 %
ARIZONA 15 $ 3,741,152.06 0.91 %
CALIFORNIA 351 $ 130,768,868.06 31.89 %
COLORADO 42 $ 14,184,204.28 3.46 %
CONNECTICUT 107 $ 35,694,255.66 8.71 %
DELAWARE 10 $ 2,659,365.56 0.65 %
DISTRICT OF COLUMBIA 2 $ 570,711.19 0.14 %
FLORIDA 32 $ 10,038,909.65 2.45 %
GEORGIA 21 $ 5,290,330.64 1.29 %
ILLINOIS 53 $ 15,628,399.62 3.81 %
INDIANA 8 $ 2,002,163.11 0.49 %
KANSAS 17 $ 3,705,212.54 0.90 %
KENTUCKY 24 $ 5,399,144.16 1.32 %
MAINE 3 $ 1,054,696.22 0.26 %
MARYLAND 23 $ 6,868,381.18 1.68 %
MASSACHUSETTS 58 $ 18,309,515.26 4.47 %
MICHIGAN 21 $ 6,321,513.74 1.54 %
MINNESOTA 9 $ 2,117,342.56 0.52 %
MISSOURI 7 $ 1,358,734.44 0.33 %
MONTANA 2 $ 538,497.16 0.13 %
NEVADA 7 $ 2,748,749.05 0.67 %
NEW HAMPSHIRE 2 $ 560,168.58 0.14 %
NEW JERSEY 130 $ 38,138,233.44 9.30 %
NEW MEXICO 1 $ 236,262.41 0.06 %
NEW YORK 35 $ 12,533,106.72 3.06 %
NORTH CAROLINA 3 $ 767,976.94 0.19 %
OHIO 64 $ 17,830,043.28 4.35 %
OKLAHOMA 7 $ 1,366,704.48 0.33 %
OREGON 4 $ 841,234.74 0.21 %
PENNSYLVANIA 122 $ 29,243,444.05 7.13 %
RHODE ISLAND 2 $ 384,036.03 0.09 %
SOUTH CAROLINA 5 $ 1,217,407.15 0.30 %
TENNESSEE 18 $ 5,601,048.00 1.37 %
TEXAS 44 $ 12,052,538.91 2.94 %
UTAH 10 $ 3,249,248.29 0.79 %
VERMONT 3 $ 934,695.15 0.23 %
VIRGINIA 46 $ 12,277,239.65 2.99 %
WASHINGTON 11 $ 2,879,737.14 0.70 %
WISCONSIN 1 $ 749,704.37 0.18 %
------ ----------------- ------------
TOTAL 1321 $ 409,998,258.33 100.00 %
34
<PAGE>
m) Scheduled maturity years:
1997-6
Group II
AGGREGATE PERCENTAGE
YEAR NUMBER BALANCES AS OF AGGREGATE
OF OF OF THE CUT- BALANCE OF
MATURITY LOANS OFF DATE POOL
-------- ------ ------------------ ------------
2017 1 $ 223,006.20 0.05 %
2026 682 $ 206,244,517.26 50.30 %
2027 638 $ 203,530,734.87 49.64 %
------ ------------------ ------------
TOTAL 1321 $ 409,998,258.33 100.00 %
Weighted average (by principal balance) remaining term
(adjusted for curtailments) of the Mortgage Loans
calculated as of the Cut-Off Date: 349 months
Latest scheduled maturity of any Mortgage Loan:
June, 2027
35
<PAGE>
n) Original Terms:
1997-6
Group II
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
LOAN TERM OF OF THE CUT- BALANCE OF
(IN MONTHS) LOANS OFF DATE POOL
--------------- ------ ---------------- ------------
240 1 $ 223,006.20 0.05 %
360 1320 $ 409,775,252.13 99.95 %
------ ---------------- ------------
TOTAL 1321 $ 409,998,258.33 100.00 %
36
<PAGE>
o) Loan Purpose Type:
1997-6
Group II
LOAN LOAN PRINCIPAL PCT TO
TYPE COUNT BALANCE POOL
----- ----- --------- ------
PURCHASE LOANS 916 $276,813,868.02 67.52
EXISTING LOAN REFI'S 112 $29,862,961.00 7.28
HOME IMPROVEMENT REFI'S 18 $6,440,017.65 1.57
CASH OUT REFI'S 275 $96,881,411.66 23.63
----- -------------- -------
TOTAL 1321 $409,998,258.33 100.00
37
<PAGE>
p) Documentation Program Types:
1997-6
Group II
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
OF OF THE CUT- BALANCE OF
LOAN TYPE LOANS OFF DATE POOL
------------------------- ------ ---------------- ------------
FULL DOCUMENTATION 1231 $ 374,213,307.67 91.27 %
LIMITED DOCUMENTATION 90 $ 35,784,950.66 8.73 %
------ ---------------- ------------
TOTAL 1321 $ 409,998,258.33 100.00 %
38
<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.
Dated: September 25, 1997.
PNC MORTGAGE SECURITIES
CORP.
(Registrant)
By: \s\ Thomas G. Lehmann
---------------------------
Thomas G. Lehmann
Vice President
(Authorized Officer)
39
<PAGE>
PNC MORTGAGE SECURITIES CORP.,
as Depositor and Master Servicer
and
U.S. BANK
NATIONAL ASSOCIATION,
as Trustee
and
PNC Bank, National Association
POOLING AND SERVICING AGREEMENT
$695,684,820
PNC Mortgage Securities Corp.
Mortgage Pass-Through Certificates
Series 1997-6
Cut-Off Date: September 1, 1997
<PAGE>
This Pooling and Servicing Agreement, dated and effective as of
September 1, 1997 (this "Agreement"), is executed between PNC Mortgage
Securities Corp., as Depositor and Master Servicer (the "Company"), PNC Bank,
National Association, (the "Bank") and U.S. Bank National Association,
successor by merger to First Bank National Association, as Trustee (the
"Trustee"). Capitalized terms used in this Agreement and not otherwise
defined have the meanings ascribed to such terms in Article I hereof.
PRELIMINARY STATEMENT
The Company at the Closing Date is the owner of the Mortgage Loans and
the other property being conveyed by it to the Trustee for inclusion in the
Trust Fund. On the Closing Date, the Company will acquire the Certificates from
the Trust Fund as consideration for its transfer to the Trust Fund of the
Mortgage Loans and certain other assets and will be the owner of the
Certificates. The Company has duly authorized the execution and delivery of
this Agreement to provide for the conveyance to the Trustee of the Mortgage
Loans and the issuance to the Company of the Certificates representing in the
aggregate the entire beneficial ownership of the Trust Fund. All covenants and
agreements made by the Company, the Bank and the Trustee herein with respect to
the Mortgage Loans and the other property constituting the Trust Fund are for
the benefit of the Holders from time to time of the Certificates and the
Certificate Insurer. Each of the Company and the Bank is entering into this
Agreement, and the Trustee is accepting the trust created hereby, for good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged.
The Class I-A and Class II-A Certificates issued hereunder have been
offered for sale pursuant to a Prospectus, dated September 18, 1997, and a
Prospectus Supplement, dated September 18, 1997, of the Company (together, the
"Prospectus"). The Trust Fund created hereunder is intended to be the "Trust"
as described in the Prospectus and the Certificates are intended to be the
"Certificates" described therein. The following table sets forth the
designation, type of interest, Remittance Rate, initial Class Principal Balance
and last scheduled Distribution Date for each Class of Certificates comprising
the interests in the Trust Fund created hereunder:
<TABLE>
<CAPTION>
DESIGNATION TYPE OF REMITTANCE INITIAL CLASS LAST SCHEDULED INITIAL
- ----------- INTEREST RATE PRINCIPAL DISTRIBUTION DATE* RATINGS
-------- ---- BALANCE ----------------- -------
------- S&P MOODY'S
--- -------
<S> <C> <C> <C> <C> <C> <C>
Class I-A Regular(2) (1) $285,686,562 October 25, 2026 AAA Aaa
Class II-A Regular(2) (1) $409,998,258 July 25, 2027 AAA Aaa
Class I-R+ Residual -- -- October 25, 2026 -- --
Class II-R+ Residual -- -- July 25, 2027 -- --
</TABLE>
________________
* The Distribution Date in the month after the maturity date for the latest
maturing Mortgage Loan in the related Loan Group (the "latest possible
maturity date" for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury
Regulations).
+ The Class R Certificates are entitled to receive, for the related Loan
Group, the Residual Distribution Amount, Excess Liquidation Proceeds, and
Excess Interest to the extent described herein.
(1) The Remittance Rate for the Class I-A Certificates and the Class II-A
Certificates shall be variable as set forth in the definition of "Remittance
Rate" herein.
2
<PAGE>
(2) The portion of the Class A Certificates represented by the Uncertificated
Class I-A Regular Interests and the Uncertificated Class II-A Regular
Interests will be designated as the "regular interests" in REMIC I and
REMIC II, respectively.
As provided herein, with respect to the Trust Fund, the Company will
cause two separate REMIC elections to be made on behalf of the Trust Fund.
As set forth below, the Uncertificated Class I-A Regular Interests and the
Uncertificated Class II-A Regular Interests will be designated "regular
interests" in REMIC I and REMIC II, respectively, and the Class I-R and Class
II-R Certificates will be designated the sole class of "residual interests"
in REMIC I and REMIC II, respectively, for purposes of the REMIC Provisions.
As of the Cut-Off Date, the Mortgage Loans have an aggregate Principal
Balance of $695,684,820 and the Certificates have an Aggregate Certificate
Principal Balance of $695,684,820.
WITNESSETH:
WHEREAS, the Company is a corporation duly organized and existing
under and by virtue of the laws of the State of Delaware and has full
corporate power and authority to enter into this Agreement and to undertake
the obligations undertaken by it herein;
WHEREAS, the Company is the owner of the Mortgage Loans identified
in the Mortgage Loan Schedule hereto having unpaid Principal Balances on the
Cut-Off Date as stated therein;
WHEREAS, the Company has been duly authorized to create the Trust
Fund, consisting of the Mortgage Loans and certain other property and to sell
undivided beneficial ownership interests in such Trust Fund and in order to
do so is selling the Certificates issued hereunder as hereinafter provided;
WHEREAS, the Trustee is a national banking association duly
organized and existing under the laws of the United States and has full power
and authority to enter into this Agreement; and
WHEREAS, the Bank is a national banking association duly organized
and existing under the laws of the United States and has full power and
authority to enter into this Agreement and to perform its obligations
hereunder;
NOW, THEREFORE, in order to declare the terms and conditions upon
which the Certificates are, and are to be, authenticated, issued and
delivered, and in consideration of the premises and of the purchase and
acceptance of the Certificates by the Holders thereof, each of the Company
and the Bank separately covenants and agrees with the Trustee, (and the
Company and the Bank do not covenant with each other) for the equal and
proportionate benefit of the respective Holders from time to time of the
Certificates and the Certificate Insurer, as follows:
3
<PAGE>
ARTICLE I
Section 1.01. DEFINITIONS.
Whenever used in this Agreement, the following words and phrases,
unless the context otherwise requires, shall have the following meanings:
ACCRUED CERTIFICATE TARGET RATE INTEREST: With respect to each
Distribution Date, as to any Class of Class A Certificates, one month's interest
accrued at the related Target Rate on the Class Principal Balance immediately
prior to such Distribution Date. Accrued Certificate Target Rate Interest will
be calculated on the basis of a 360-day year consisting of twelve 30-day months.
ADJUSTMENT DATE: As to each Mortgage Loan, the date set forth in the
related Mortgage Note, which occurs commencing on the first Due Date immediately
prior to the fifth anniversary of the first Due Date and annually thereafter, on
which an adjustment to the Mortgage Interest Rate of such Mortgage Loan becomes
effective.
AGGREGATE CERTIFICATE PRINCIPAL BALANCE: At any given time, the sum
of the then current Class Principal Balances of all Classes of Certificates.
APPRAISED VALUE: The amount set forth in an appraisal made by or for
the mortgage originator in connection with its origination of each Mortgage
Loan.
AUTHENTICATING AGENT: Any authenticating agent appointed by the
Trustee pursuant to Section 8.11.
AUTHORIZED DENOMINATION: With respect to the Class A Certificates, an
initial Certificate Principal Balance equal to $25,000 and integral multiples of
$1 in excess thereof, except that one Certificate of each Class of the Class A
Certificates may be issued in a different amount. With respect to each Class of
Class R Certificates, one Certificate with a Percentage Interest equal to 0.01%
and one Certificate with a Percentage Interest equal to 99.99%.
AVAILABLE AMOUNT: With respect to the Related Insured Certificates
and any Distribution Date, the lesser of (a) the amount on deposit in the
Certificate Account applicable to the Related Insured Certificates, after giving
effect to (i) amounts paid or advanced by the Master Servicer, (ii) transfers
from the related Reserve Fund, (iii) transfers of Excess Interest to, or from,
the other Loan Group and (iv) transfers from the Yield Supplement Account and
(b) the sum of (i) the Available Distribution Amount applicable to the Related
Insured Certificates in accordance with this Agreement, (ii) the Excess Interest
received from the other Loan Group in accordance with this Agreement, (iii) the
Yield Supplement Amount applicable to the Related Insured Certificates and (iv)
the amount of any withdrawal from the applicable Reserve Fund minus (v) the
Excess Interest paid to the other Loan Group in accordance with this Agreement.
AVAILABLE DISTRIBUTION AMOUNT: For each of Loan Group I and Loan
Group II, on any Distribution Date, the sum of the following amounts (in the
case of paragraphs (1), (2) and (3), with respect to the Mortgage Loans in such
Loan Group):
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(1) the total amount of all cash received by or on behalf of
the Master Servicer with respect to such Mortgage Loans by the
Determination Date for such Distribution Date and not previously
distributed (including Monthly P&I Advances made by Servicers and proceeds
of Liquidated Mortgage Loans, except:
(a) all scheduled payments of principal and interest
collected but due on a date subsequent to the related Due Date;
(b) all Curtailments received after the Prior Period
(together with any interest payment received with such prepayments to
the extent that it represents the payment of interest accrued on a
related Mortgage Loan subsequent to the Prior Period);
(c) all Payoffs received on or after the 15th day of
the month of any such Determination Date (together with any interest
payment received with such Payoffs to the extent that it represents
the payment of interest accrued on a related Mortgage Loan subsequent
to the Prior Period), and interest accrued during the period from the
1st to the 14th day of the month of such Determination Date and
received with Payoffs received during such period, which interest
shall not be included in the calculation of the Available Distribution
Amount for any Distribution Date;
(d) Insurance Proceeds and Liquidation Proceeds
received after the Prior Period;
(e) all amounts in the Certificate Account which are
due and reimbursable to a Servicer or the Master Servicer pursuant to
the terms of this Agreement;
(f) the sum of the Master Servicing Amount, the
Servicing Amount, the Supplemental Amount and the Premium Amount for
each Mortgage Loan;
(g) Excess Liquidation Proceeds;
and
(h) Late Remittances;
(2) the sum, to the extent not previously distributed, of the
following amounts, to the extent advanced or received, as applicable, by
the Master Servicer by the Distribution Date:
(a) any Monthly P&I Advance made by the Master
Servicer to the Trustee with respect to such Distribution Date; and
(b) Compensating Interest; and
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(3) the total amount, to the extent not previously
distributed, of all cash received by the Distribution Date by the Trustee
or the Master Servicer, in respect of a Purchase Obligation under
Section 2.02 or Section 2.03 or any permitted repurchase of a Mortgage
Loan.
BANKRUPTCY COVERAGE: For each Loan Group, the Bankruptcy Coverage
Initial Amount for such Loan Group less (a) any scheduled or permissible
reduction in the amount of Bankruptcy Coverage for such Loan Group pursuant to
this definition and (b) Bankruptcy Losses incurred by the Loan Group without
regard to the coverage provided by the Certificate Insurance Policy. Bankruptcy
Coverage may be reduced upon written confirmation from the Rating Agency that
such reduction will not adversely affect the then current ratings assigned to
the Certificates by the Rating Agency (determined in the case of the Class A
Certificates without regard to the effect of the Certificate Insurance Policy)
and upon receipt by the Trustee of the prior written consent of the Certificate
Insurer.
BANKRUPTCY COVERAGE INITIAL AMOUNT: The Group I Bankruptcy Coverage
Initial Amount or the Group II Bankruptcy Coverage Initial Amount, as
applicable.
BANKRUPTCY LOSS: A loss on a Mortgage Loan arising out of (i) a
reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of
competent jurisdiction in a case under the United States Bankruptcy Code, other
than any such reduction that arises out of clause (ii) of this definition of
"Bankruptcy Loss," including, without limitation, any such reduction that
results in a permanent forgiveness of principal, or (ii) with respect to any
Mortgage Loan, a valuation, by a court of competent jurisdiction in a case under
such Bankruptcy Code, of the related Mortgaged Property in an amount less than
the then outstanding Principal Balance of such Mortgage Loan.
BENEFICIAL HOLDER: A Person holding a beneficial interest in any
Book-Entry Certificate as or through a DTC Participant or an Indirect DTC
Participant or a Person holding a beneficial interest in any Definitive
Certificate.
BOOK-ENTRY CERTIFICATES: The Class A Certificates, beneficial
ownership and transfers of which shall be made through book entries as described
in Section 5.07.
BUSINESS DAY: Any day other than a Saturday, a Sunday, or a day on
which the Certificate Insurer or banking institutions in Chicago, Illinois, New
York, New York or St. Paul, Minnesota are authorized or obligated by law or
executive order to be closed.
BUYDOWN AGREEMENT: An agreement between a Person and a Mortgagor
pursuant to which such Person has provided a Buydown Fund.
BUYDOWN FUND: A fund provided by the originator of a Mortgage Loan or
another Person with respect to a Buydown Loan which provides an amount
sufficient to subsidize regularly scheduled principal and interest payments due
on such Buydown Loan for a period. Buydown Funds may be (i) funded at the par
values of future payment subsidies, or (ii) funded in an amount less than the
par values of future payment subsidies, and determined by discounting
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such par values in accordance with interest accruing on such amounts, in
which event they will be deposited in an account bearing interest. Buydown
Funds may be held in a separate Buydown Fund Account or may be held in a
Custodial Account for P&I or a Custodial Account for Reserves and monitored
by a Servicer.
BUYDOWN FUND ACCOUNT: A separate account or accounts created and
maintained pursuant to Section 3.02 (a) with the corporate trust department of
the Trustee or another financial institution approved by the Master Servicer,
(b) within FDIC insured accounts (or other accounts with comparable insurance
coverage acceptable to the Rating Agency) created, maintained and monitored by a
Servicer or (c) in a separate non-trust account without FDIC or other insurance
in an Eligible Institution. Such account or accounts may be non-interest bearing
or may bear interest. In the event that a Buydown Fund Account is established
pursuant to clause (b) of the preceding sentence, amounts held in such Buydown
Fund Account shall not exceed the level of deposit insurance coverage on such
account; accordingly, more than one Buydown Fund Account may be established.
BUYDOWN LOAN: A Mortgage Loan for which the Mortgage Interest Rate
has been subsidized through a Buydown Fund provided at the time of origination
of such Mortgage Loan.
CERTIFICATE: Any one of the Certificates issued pursuant to this
Agreement, executed by the Trustee and authenticated by or on behalf of the
Trustee hereunder in substantially one of the forms set forth in Exhibits A and
B hereto. The additional matter appearing in Exhibit K shall be deemed
incorporated into Exhibits A and B as though set forth at the end of Exhibit A
and at the end of Exhibit B, as applicable.
CERTIFICATE ACCOUNT: The separate trust account created and
maintained with the with the corporate trust department of the Trustee, the
Investment Depository or any other Eligible Institution which is incorporated
under the laws of the United States or any state thereof pursuant to Section
3.04, which account shall bear a designation clearly indicating that the funds
deposited therein are held in trust for the benefit of the Trustee on behalf of
the Certificateholders or any other account serving a similar function
acceptable to the Rating Agency and the Certificate Insurer. Funds in the
Certificate Account in respect of the Mortgage Loans in Loan Group I and the
Mortgage Loans in Loan Group II and amounts withdrawn from the Certificate
Account attributable to each of such Loan Groups shall be accounted for
separately. Funds in the Certificate Account may be invested in Eligible
Investments and reinvestment earnings thereon (net of investment losses and
Payoff Earnings applied to Compensating Interest) shall be paid to the Master
Servicer as additional servicing compensation, in the same manner and subject to
the same terms and conditions that apply to the Investment Account under this
Agreement. Funds deposited in the Certificate Account (exclusive of the Master
Servicing Amount for each Mortgage Loan) shall be held in trust for the
Certificateholders and the Certificate Insurer and for the uses and purposes set
forth in Section 3.04, Section 3.05 and Section 4.01.
CERTIFICATE DISTRIBUTION AMOUNT: On each Distribution Date, the
Available Distribution Amount for each Loan Group shall be distributed to the
related Certificates in the following amounts and priority:
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(i) First, pro rata, in respect of the Interest Distribution Amount
and Excess Interest for such Loan Group up to the respective amounts thereof,
allocated as follows (any such pro rata distribution to give effect to amounts
in respect of Excess Interest from the other Loan Group and the Yield Supplement
Amount for such Loan Group payable to the Class A Certificates on such
Distribution Date):
(A) to the Class A Certificates related to such Loan Group,
the Interest Distribution Amount for such Distribution Date; and
(B) the Excess Interest for such Loan Group for such
Distribution Date, if any, as follows:
(1) If there is Excess Interest for such Distribution Date for
both Loan Groups, then pro rata (by the total amount of Excess
Interest for both Loan Groups) to the Yield Supplement Account
until the Required Account Level is reached, and then to the
Class R Certificates related to such Loan Group, otherwise:
(2) (a) first, to the Class A Certificates related to
the other Loan Group, up to the amount of the
Interest Shortfall for such other Loan Group;
(b) second, to the Yield Supplement Account until it
reaches the Required Account Level; and
(c) third, to the Class R Certificates related to such
Loan Group;
(ii) Second, to the Class A Certificates related to such Loan Group,
the sum of the Principal Payment Amount for such Loan Group, the Principal
Prepayment Amount for such Loan Group and the aggregate principal balance of all
Mortgage Loans in such Loan Group which became Liquidated Mortgage Loans during
the Prior Period until the Class Principal Balance for such Class has been
reduced to zero;
(iii) Third, to the Certificate Insurer, any Certificate Insurer
Reimbursement Amount; and
(iv) Fourth, to the Class R Certificates related to such Loan Group,
the Residual Distribution Amount.
For federal income tax purposes only, all distributions of Excess
Interest to the Class A Certificates related to the other Loan Group made
pursuant to this definition shall be deemed to be distributed first to the
Holder of the Residual Certificate then distributed by the Holder of the
Residual Certificate to the other Loan Group. Such deemed distribution shall
not affect the security interest in Excess Interest granted pursuant to Section
2.01.
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CERTIFICATE INSURANCE POLICY: The Certificate Guaranty Insurance
Policy No. 24860 issued by the Certificate Insurer in respect of the Insured
Certificates, in the form attached hereto as Exhibit H.
CERTIFICATE INSURER: MBIA Insurance Corporation or its successors in
interest.
CERTIFICATE INSURER CLEAN-UP OPTION: If the Bank fails to pay the Put
Purchase Price with respect to any Certificate for which the Holder has
exercised the Put Option, resulting in a claim upon the Certificate Insurance
Policy, the Certificate Insurer's right to purchase all of the Class A
Certificates of the related Class at the Clean-Up Purchase Price without regard
to whether the Put Option has been exercised with respect to more than 90% of
the outstanding Class Principal Balance of such Class and the Certificate
Insurer's right to purchase the related Residual Certificates at a price equal
to $1.
CERTIFICATE INSURER DEFAULT: The existence and continuance of any of
the following: (a) a failure by the Certificate Insurer to make a payment
required under the Certificate Insurance Policy in accordance with its terms;
(b) the entry of a decree or order of a court or agency having jurisdiction in
respect of the Certificate Insurer in an involuntary case under any present or
future Federal or state bankruptcy, insolvency or similar law appointing a
conservator or receiver or liquidator or other similar official of the
Certificate Insurer or of any substantial part of its property, or the entering
of an order for the winding up or liquidation of the affairs of the Certificate
Insurer and the continuance of any such decree or order undischarged or unstayed
and in force for a period of 90 consecutive days; (c) the consent by the
Certificate Insurer to the appointment of a conservator or receiver or
liquidator or other similar official in any insolvency, readjustment of debt,
marshaling of assets and liabilities or similar proceedings of or relating to
the Certificate Insurer or of or relating to all or substantially all of its
property; or (d) the admission by the Certificate Insurer in writing of its
inability to pay its debts generally as they become due, filing of a petition to
take advantage of or otherwise voluntarily commencing a case or proceeding under
any applicable bankruptcy, insolvency, reorganization or other similar statute,
making of an assignment for the benefit of its creditors, or the voluntary
suspension of payment of its obligations.
CERTIFICATE INSURER REIMBURSEMENT AMOUNT: The sum of (i) all amounts
previously paid by the Certificate Insurer under the Certificate Insurance
Policy which have not previously been reimbursed, (ii) any other amounts due to
the Certificate Insurer under the Insurance Agreement and (iii) interest on the
foregoing at the Late Payment Rate (as defined in the Insurance Agreement) from
the date such amount became due until paid in full.
CERTIFICATE PRINCIPAL BALANCE: For each Certificate of any Class of
Class A Certificates, the portion of the related Class Principal Balance, if
any, represented by such Certificate.
CERTIFICATE REGISTER AND CERTIFICATE REGISTRAR: The register
maintained and the registrar appointed, respectively, pursuant to Section 5.03.
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CERTIFICATEHOLDER OR HOLDER: The person in whose name a Certificate
is registered in the Certificate Register, except that, solely for the purposes
of giving any consent pursuant to this Agreement, any Certificate registered in
the name of the Company, the Master Servicer or any affiliate thereof shall be
deemed not to be outstanding and the Percentage Interest evidenced thereby shall
not be taken into account in determining whether the requisite percentage of
Percentage Interests necessary to effect any such consent has been obtained;
provided, that the Trustee may conclusively rely upon an Officer's Certificate
to determine whether any Person is an affiliate of the Company or the Master
Servicer. For so long as no Certificate Insurer Default exists, the Certificate
Insurer shall be deemed to be the sole Holder of all outstanding Insured
Certificates with respect to any rights hereunder (other than (i) the right to
receive distributions on such Insured Certificates, except as provided in
Section 3.16 (c) and (ii) the right to exercise the Put Option pursuant to
Section 3.18); provided, that the Certificate Insurer shall have no power
without the consent of the Owner of each Certificate affected thereby to:
(i) reduce in any manner the amount of, or delay the timing of, distributions of
principal or interest required to be made hereunder or reduce the Insured
Certificateholder's Undivided Interest, the Remittance Rate or the Termination
Payment with respect to any of the Insured Certificates, (ii) reduce the
percentage of Undivided Interests specified in Section 10.01 which are required
to amend this Agreement, (iii) create or permit the creation of any lien against
any part of the Trust Fund, (iv) modify any provision in any way which would
permit an earlier retirement of the Certificates, or (v) amend this definition
of "Certificateholder or Holder".
CLASS: All Certificates having the same priority and rights to
payments from the Available Distribution Amount, designated as a separate Class,
as set forth in the forms of Certificates attached hereto as Exhibits A and B.
Each Class shall be entitled to receive the amounts allocated to such Class
pursuant to the definition of "Certificate Distribution Amount" and Section 4.01
only to the extent of the Available Distribution Amount and other amounts set
forth in Section 4.01 for such Distribution Date remaining after distributions
in accordance with prior clauses of the definition of "Certificate Distribution
Amount."
CLASS A CERTIFICATES: The Class I-A and Class II-A Certificates,
collectively.
CLASS I-A CERTIFICATES: The Certificates designated as "Class I-A"
on the face thereof in substantially the form attached hereto as Exhibit A-1.
Except as otherwise described herein, the Class I-A Certificates, all of
which are related to the Mortgage Loans in Loan Group I, shall be entitled to
receive distributions related solely to such Mortgage Loans.
CLASS I-A RESERVE FUND: The separate trust account created and
maintained by the Master Servicer, with the corporate trust department of the
Trustee, the Investment Depository or any other Eligible Institution which is
incorporated under the laws of the United States or any state thereof
pursuant to Section 3.17, which account shall bear a designation clearly
indicating that the funds deposited therein are held in trust for the benefit
of the Trustee on behalf of the Class I-A and Class I-R Certificateholders
and the Certificate Insurer, or any other account serving a similar function
acceptable to the Rating Agency and the Certificate Insurer, and which
account provides that the Trustee may make, or cause to be made, withdrawals,
with respect to any related Reserve Fund Covered Amount for Loan Group I, to
the extent of the amount then remaining in the related Reserve Fund.
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CLASS I-A RESERVE FUND INITIAL AMOUNT: $5,713,731
CLASS II-A CERTIFICATES: The Certificates designated as "Class
II-A" on the face thereof in substantially the form attached hereto as
Exhibit A-2. Except as otherwise described herein, the Class II-A
Certificates, all of which are related to the Mortgage Loans in Loan Group
II, shall be entitled to receive distributions related solely to such
Mortgage Loans.
CLASS I-R CERTIFICATES: The Certificates designated as "Class I-R"
on the face thereof in substantially the form attached hereto as Exhibit B-1,
which have been designated as the single class of "residual interests" in
REMIC I pursuant to Section 2.01. Except as otherwise described herein, the
Class I-R Certificates, all of which are related to the Mortgage Loans in
Loan Group I, shall be entitled to receive distributions related solely to
such Mortgage Loans.
CLASS II-R CERTIFICATES: The Certificates designated as "Class
II-R" on the face thereof in substantially the form attached hereto as
Exhibit B-2, which have been designated as the single class of "residual
interests" in REMIC II pursuant to Section 2.01. Except as otherwise
described herein, the Class II-R Certificates, all of which are related to
the Mortgage Loans in Loan Group II shall be entitled to receive
distributions related solely to such Mortgage Loans.
CLASS II-A RESERVE FUND: The separate trust account created and
maintained by the Master Servicer, with the corporate trust department of the
Trustee, the Investment Depository or any other Eligible Institution which is
incorporated under the laws of the United States or any state thereof
pursuant to Section 3.17, which account shall bear a designation clearly
indicating that the funds deposited therein are held in trust for the benefit
of the Trustee on behalf of the Class II-A and Class II-R Certificateholders
and the Certificate Insurer, or any other account serving a similar function
acceptable to the Rating Agency and the Certificate Insurer, and which
account provides that the Trustee may make, or cause to be made, withdrawals,
with respect to any related Reserve Fund Covered Amount for Loan Group II, to
the extent of the amount then remaining in the related Reserve Fund.
CLASS II-A RESERVE FUND INITIAL AMOUNT: $8,199,965
CLASS PRINCIPAL BALANCE: For any Class of Certificates, the
applicable Initial Class Principal Balance therefor set forth in the
Preliminary Statement hereto, corresponding to the rights of such Class in
payments of principal due to be passed through to Certificateholders from
principal payments on the Mortgage Loans, as reduced from time to time by (x)
distributions of principal to Certificateholders of such Class and (y) the
portion of Realized Losses allocated to the Class Principal Balance of such
Class pursuant to the definition of "Realized Loss" with respect to a given
Distribution Date. For any Distribution Date, in the event a Realized Loss is
allocated to the Class Principal Balance of a Class in accordance with the
definition thereof, the reduction of the Class Principal Balance of any Class
of Certificates pursuant to the definition of "Realized Loss" shall be deemed
effective prior to the determination and distribution of principal on such
Class pursuant to the definition of "Certificate Distribution Amount."
Exclusively for the purpose of determining any subrogation rights of the
Certificate Insurer arising under Section 3.16 hereof, "Class Principal
Balance" of the Class A Certificates shall not be reduced by the amount of
any payments made by the Certificate Insurer in respect of principal on the
Insured
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Certificates under the Certificate Insurance Policy, except to the extent
such payments have been reimbursed to the Certificate Insurer pursuant to the
provisions of this Agreement. The Class R Certificates shall have no Class
Principal Balance.
CLASS R CERTIFICATES: The Class I-R and Class II-R Certificates,
collectively.
CLEAN-UP OPTION: If the Put Option is exercised with respect to
more than 90% of the outstanding Class Principal Balance of a Class of Class
A Certificates, the Bank's option to purchase on the same terms as the Put
Option all of the outstanding Certificates of such Class at the Clean-Up
Purchase Price, including Certificates with respect to which the applicable
Holder has not exercised the Put Option.
CLEAN-UP PURCHASE PRICE: For each Loan Group, the aggregate of the
Put Purchase Price for all related Class A Certificates.
CLEARING AGENCY: An organization registered as a "clearing agency"
pursuant to Section 17A of the Securities Exchange Act of 1934, as amended,
which initially shall be DTC.
CLOSING DATE: September 25, 1997, which is the date of settlement
of the sale of the Certificates to the original purchasers thereof.
CODE: The Internal Revenue Code of 1986, as amended.
COMPANY: PNC Mortgage Securities Corp., a Delaware corporation, or
its successor-in-interest.
COMPENSATING INTEREST: For any Distribution Date, with respect to a
Loan Group, the sum of (A) the lesser of (i) aggregate Uncollected Interest
with respect to the Mortgage Loans comprising such Loan Group and (ii) the
sum of (a) the aggregate Master Servicing Amount with respect to the Mortgage
Loans comprising such Loan Group, (b) Payoff Earnings with respect to the
Mortgage Loans comprising such Loan Group and (c) aggregate Payoff Interest
with respect to the Mortgage Loans comprising such Loan Group and (B) any
Excess Compensating Interest from the other Loan Group.
CORPORATE TRUST OFFICE: The corporate trust office of the Trustee
in the State of Minnesota, at which at any particular time its corporate
trust business with respect to this Agreement shall be administered, which
office at the date of the execution of this Agreement is located at 180 East
5th Street, SPFT0210, St. Paul, MN 55101, Attention: Structured Finance PNC
1997-6.
CURTAILMENT: Any payment of principal on a Mortgage Loan, made by
or on behalf of the related Mortgagor, other than a Monthly Payment, a
Prepaid Monthly Payment or a Payoff, which is applied to reduce the
outstanding Principal Balance of the Mortgage Loan.
CURTAILMENT SHORTFALL: With respect to any Curtailment applied with
a Monthly Payment other than a Prepaid Monthly Payment, an amount equal to
one month's interest on such Curtailment at the applicable Pass-Through Rate
on such Mortgage Loan.
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CUSTODIAL ACCOUNT FOR P&I: The Custodial Account for Principal and
Interest established and maintained by each Servicer pursuant to its
Servicing Contract and caused by the Master Servicer to be established and
maintained pursuant to Section 3.02 (a) with the corporate trust department
of the Trustee or another financial institution approved by the Master
Servicer such that the rights of the Master Servicer, the Trustee, the
Certificateholders and the Certificate Insurer thereto shall be fully
protected against the claims of any creditors of the applicable Servicer and
of any creditors or depositors of the institution in which such account is
maintained, (b) within FDIC insured accounts (or other accounts with
comparable insurance coverage acceptable to the Rating Agency) created,
maintained and monitored by a Servicer or (c) in a separate non-trust account
without FDIC or other insurance in an Eligible Institution. In the event that
a Custodial Account for P&I is established pursuant to clause (b) of the
preceding sentence, amounts held in such Custodial Account for P&I shall not
exceed the level of deposit insurance coverage on such account; accordingly,
more than one Custodial Account for P&I may be established. Any amount that
is at any time not protected or insured in accordance with the first sentence
of this definition of "Custodial Account for P&I" shall promptly be withdrawn
from such Custodial Account for P&I and be remitted to the Investment Account.
CUSTODIAL ACCOUNT FOR RESERVES: The Custodial Account for Reserves
established and maintained by each Servicer pursuant to its Servicing
Contract and caused by the Master Servicer to be established and maintained
pursuant to Section 3.02 (a) with the corporate trust department of the
Trustee or another financial institution approved by the Master Servicer such
that the rights of the Master Servicer, the Trustee, the Certificateholders
and the Certificate Insurer thereto shall be fully protected against the
claims of any creditors of the applicable Servicer and of any creditors or
depositors of the institution in which such account is maintained, (b) within
FDIC insured accounts (or other accounts with comparable insurance coverage
acceptable to the Rating Agency) created, maintained and monitored by a
Servicer or (c) in a separate non-trust account without FDIC or other
insurance in an Eligible Institution. In the event that a Custodial Account
for Reserves is established pursuant to clause (b) of the preceding sentence,
amounts held in such Custodial Account for Reserves shall not exceed the
level of deposit insurance coverage on such account; accordingly, more than
one Custodial Account for Reserves may be established. Any amount that is at
any time not protected or insured in accordance with the first sentence of
this definition of "Custodial Account for Reserves" shall promptly be
withdrawn from such Custodial Account for Reserves and be remitted to the
Investment Account.
CUSTODIAL AGREEMENT: The agreement, if any, among the Master
Servicer, the Trustee and a Custodian providing for the safekeeping of the
Mortgage Files on behalf of the Certificateholders.
CUSTODIAN: A custodian which is not an affiliate of the Master
Servicer or the Company, the Lender or the Bank and which is appointed
pursuant to a Custodial Agreement. Any Custodian so appointed shall act as
agent on behalf of the Trustee, and shall be compensated by the Trustee at no
additional charge to the Master Servicer or the Trust Fund. The Trustee shall
remain at all times responsible under the terms of this Agreement,
notwithstanding the fact that certain duties have been assigned to a
Custodian.
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CUT-OFF DATE: September 1, 1997.
DEFICIENCY AMOUNT: (i) With respect to the Related Class A
Certificates and the Related Residual Certificates, as of any Distribution
Date, the amount, if any, by which (a) the sum of the Interest Distribution
Amount payable to the Related Class A Certificates and the Excess Interest
Amount payable to the Related Residual Certificates exceeds (b) the related
Available Amount and (ii) with respect to the Related Class A Certificates,
(a) as of any Distribution Date, the amount, if any, by which (1) the sum of
(A) the sum of the Principal Payment Amount and the Principal Prepayment
Amount applicable to the Related Class A Certificates to the extent received
by the Trustee or advanced by the Master Servicer or related Servicer and (B)
the sum of the principal balances of the Mortgage Loans for the related Loan
Group which became Liquidated Mortgage Loans during the prior calendar month,
exceeds (2) the excess, if any, of the related Available Amount over the sum
of the related Excess Interest Amount and the related Interest Distribution
Amount, (b) as of each Last Scheduled Distribution Date or any Distribution
Date on which the Company repurchases the Mortgage Loans and all property
acquired in respect of such Mortgage Loans, after payment, if any, of all
other amounts to the Related Class A Certificates, any remaining Class
Principal Balance of the Related Class A Certificates, and (c) as of the Put
Date, the difference between the Put Purchase Price and the portion of the
Put Purchase Price, if any, paid by the Bank, of any Related Class A
Certificates with respect to which the Put Option or Clean-Up Option has been
exercised.
DEFINITIVE CERTIFICATES: As defined in Section 5.07.
DEPOSITARY AGREEMENT: The Letter of Representations, dated
September 24, 1997 by and among DTC, the Company and the Trustee.
DESTROYED MORTGAGE NOTE: A Mortgage Note the original of which was
permanently lost or destroyed and has not been replaced.
DETERMINATION DATE: A day not later than the 10th day preceding a
related Distribution Date.
DISQUALIFIED ORGANIZATION: As defined in Section 5.01(b).
DISTRIBUTION DATE: With respect to distributions on the
Certificates, the 25th day (or, if such 25th day is not a Business Day, the
Business Day immediately succeeding such 25th day) of each month, with the
first such date being October 27, 1997.
DTC: The Depository Trust Company.
DTC PARTICIPANT: A broker, dealer, bank, other financial
institution or other Person for whom DTC effects book-entry transfers and
pledges of securities deposited with DTC.
DUE DATE: The first day of each calendar month, which is the day on
which the Monthly Payment for each Mortgage Loan is due.
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ELIGIBLE INSTITUTION: An institution having (i) the highest
short-term debt rating, and one of the two highest long-term debt ratings of
the Rating Agency, (ii) with respect to any Custodial Account for P&I and
special Custodial Account for Reserves, an unsecured long-term debt rating of
at least one of the two highest unsecured long-term debt ratings of the
Rating Agency, (iii) with respect to any Buydown Fund Account or Custodial
Account which also serves as a Buydown Fund Account, the highest unsecured
long-term debt rating by the Rating Agency, or (iv) the approval of the
Rating Agency and the Certificate Insurer. Such institution may be the
Servicer if the applicable Servicing Contract requires the Servicer to
provide the Master Servicer with written notice on the Business Day following
the date on which the Servicer determines that such Servicer's short-term
debt and unsecured long-term debt ratings fail to meet the requirements of
the prior sentence.
ELIGIBLE INVESTMENTS: Any one or more of the obligations or
securities listed below in which funds deposited in the Reserve Funds, if
any, the Investment Account, the Yield Supplement Account, the Certificate
Account, the Custodial Account for P&I and the Custodial Account for Reserves
may be invested:
(i) Obligations of, or guaranteed as to principal and interest by,
the United States or any agency or instrumentality thereof when such
obligations are backed by the full faith and credit of the United States;
(ii) Repurchase agreements with a term not to exceed 30 days on
obligations described in clause (i) of this definition of "Eligible
Investments," provided that the unsecured obligations of the party agreeing
to repurchase such obligations have at the time the highest short term debt
rating of the Rating Agency and provided that such repurchaser's unsecured
long term debt has the highest unsecured long term debt ratings of the
Rating Agency; provided, however, that collateral transferred pursuant to
such repurchase agreement must be (i) valued daily at current market price
plus accrued interest, (ii) pursuant to such valuation, be equal, at all
times, to at least 105% of the cash transferred by the Trustee in exchange
for such collateral and (iii) be delivered to the Trustee or, if the
Trustee is supplying the collateral, an agent for the Trustee, in such
manner as to accomplish perfection of a security interest in the collateral
by possession of certificated securities;
(iii) Federal funds, certificates of deposit, time deposits and
bankers' acceptances of any U.S. bank or trust company incorporated under
the laws of the United States or any state, having an original term to
maturity of no more than 365 days, provided that the debt obligations of
such bank or trust company at the date of acquisition thereof have the
highest short term debt rating of the Rating Agency and unsecured long term
debt has the highest unsecured long term debt ratings of the Rating Agency;
(iv) Obligations of, or obligations guaranteed by, any state of the
United States or the District of Columbia, provided that such obligations
at the date of
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acquisition thereof shall have the highest long-term debt ratings
available for such securities from the Rating Agency;
(v) Commercial paper of any corporation incorporated under the laws
of the United States or any state thereof, which on the date of acquisition
has the highest commercial paper rating of the Rating Agency, provided that
the corporation has unsecured long term debt that has the highest unsecured
long term debt ratings of the Rating Agency;
(vi) Securities (other than stripped bonds or stripped coupons)
bearing interest or sold at a discount that are issued by any corporation
incorporated under the laws of the United States or any state thereof and
have the highest long-term unsecured rating available for such securities
from the Rating Agency; provided, however, that securities issued by any
such corporation will not be investments to the extent that investment
therein would cause the outstanding principal amount of securities issued
by such corporation that are then held as part of the Investment Account or
the Certificate Account to exceed 20% of the aggregate principal amount of
all Eligible Investments then held in the Investment Account and the
Certificate Account;
(vii) Units of taxable money market funds (which may be 12b-1 funds,
as contemplated under the rules promulgated by the Securities and Exchange
Commission under the Investment Company Act of 1940), which funds have the
highest rating available for such securities from the Rating Agency or
which have been designated in writing by the Rating Agency and the
Certificate Insurer as Eligible Investments; and
(viii) Such other instruments as shall not affect the Ratings, as
evidenced in writing by the Rating Agency, (determined in the case of the
Class A Certificates without regard to the effect of the Certificate
Insurance Policy) and which have been approved in writing by the
Certificate Insurer;
PROVIDED, HOWEVER, that such obligation or security is held for a temporary
period pursuant to Section 1.860G-2(g)(1) of the Treasury Regulations, and
that such period can in no event exceed thirteen months.
In no event shall an instrument be an Eligible Investment if such
instrument (a) evidences a right to receive only interest payments with
respect to the obligations underlying such instrument or (b) has been
purchased at a price greater than the outstanding principal balance of such
instrument.
ERISA: The Employee Retirement Income Security Act of 1974, as
amended.
EVENT OF DEFAULT: Any event of default as specified in Section 7.01.
EXCESS COMPENSATING INTEREST: For any Distribution Date, with
respect to a Loan Group, the excess, if any, of (i) the sum of (a) the
aggregate Master Servicing Amount with
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respect to the Mortgage Loans comprising such Loan Group and (b) Payoff
Earnings and Payoff Interest with respect to the Mortgage Loans comprising
such Loan Group over (ii) aggregate Uncollected Interest with respect to the
Mortgage Loans comprising such Loan Group.
EXCESS INTEREST: For each Loan Group, with respect to any
Distribution Date, the excess, if any, of the aggregate of the Monthly
Interest Payments for the Mortgage Loans in such Loan Group due on the Due
Date in the month of such Distribution Date (net of the Gross Amount for such
Loan Group and the related Residual Allocable Share of (i) Uncompensated
Interest Shortfall, (ii) any interest shortfalls related to the Relief Act,
(iii) any amounts that would otherwise be Compensating Interest but for the
Master Servicer's failure to remit such amounts to the Certificate Account
pursuant to Section 3.04) over the Accrued Certificate Target Rate Interest
for the related Class A Certificates. For each Loan Group, after the
applicable Put Date, the Excess Interest will be deemed to be zero.
EXCESS INTEREST AMOUNT: For each Distribution Date, with respect to
the related Loan Group, the Excess Interest for such Loan Group minus the sum
of (1) the amount of Excess Interest for such Loan Group required to be
distributed to the other Loan Group and (2) the amount of Excess Interest for
such Loan Group required to be used to increase the amount on deposit in the
Yield Supplement Account.
EXCESS LIQUIDATION PROCEEDS: With respect to any Distribution Date,
the excess, if any, of aggregate Liquidation Proceeds in the preceding month
over the amount that would have been received if a Payoff had been made on
the last day of such month with respect to each Mortgage Loan which became a
Liquidated Mortgage Loan during such month.
FDIC: Federal Deposit Insurance Corporation, or any successor
thereto.
FHA: Federal Housing Administration, or any successor thereto.
FHLB: Federal Home Loan Bank of San Francisco, or any successor
thereto.
FHLMC: Federal Home Loan Mortgage Corporation, or any successor
thereto.
FNMA: Federal National Mortgage Association, or any successor
thereto.
FRAUD COVERAGE: For each Loan Group, during the period prior to the
first anniversary of the Cut-Off Date, the Fraud Coverage Initial Amount for
such Loan Group reduced by Fraud Losses incurred for such Loan Group without
regard to the coverage provided by the Certificate Insurance Policy; during
the period from the first anniversary of the Cut-Off Date to (but not
including) the fifth anniversary of the Cut-Off Date, the amount of the Fraud
Coverage for such Loan Group on the most recent previous anniversary of the
Cut-Off Date (calculated in accordance with the second sentence of this
definition) reduced by Fraud Losses incurred for such Loan Group since such
anniversary without regard to the coverage provided by the Certificate
Insurance Policy; and during the period on and after the fifth anniversary of
the Cut-Off Date, Fraud Coverage for such Loan Group will be zero. On each
anniversary of the Cut-Off Date, Fraud Coverage for such Loan Group shall be
reduced to the lesser of (i) on the first, second, third and fourth
anniversaries of the Cut-Off Date, 1.0% of the aggregate principal
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balance of such Loan Group as of the Due Date in the preceding month and (ii)
the excess of the Fraud Coverage Initial Amount for such Loan Group over
cumulative Fraud Losses incurred for such Loan Group to date without regard
to the coverage provided by the Certificate Insurance Policy. Fraud Coverage
for such Loan Group may be reduced upon written confirmation from the Rating
Agency that such reduction will not adversely affect the then current ratings
assigned to the Certificates related to such Loan Group by the Rating Agency
(determined in the case of the Insured Certificates without regard to the
effect of the Certificate Insurance Policy) and upon receipt by the Trustee
of prior written consent of the Certificate Insurer.
FRAUD COVERAGE INITIAL AMOUNT: The Group I Fraud Coverage Initial
Amount or the Group II Fraud Coverage Initial Amount, as applicable.
FRAUD LOSS: The occurrence of a loss on a Mortgage Loan arising
from any action, event or state of facts with respect to such Mortgage Loan
which, because it involved or arose out of any dishonest, fraudulent,
criminal, negligent or knowingly wrongful act, error or omission by the
Mortgagor, originator (or assignee thereof) of such Mortgage Loan, Lender, a
Servicer or the Master Servicer, would result in an exclusion from, denial
of, or defense to coverage which otherwise would be provided by a Primary
Insurance Policy previously issued with respect to such Mortgage Loan.
GROSS AMOUNT: For any Distribution Date, with respect to each Loan
Group, the sum of (i) for the Mortgage Loans in such Loan Group, the sum of
the (a) Servicing Amount, (b) the Master Servicing Amount, (c) for any
Distribution Date after the Put Date applicable to such Loan Group, the
Supplemental Amount, and (ii) the Premium Amount for the Related Insured
Certificates.
GROSS FEES: For any Distribution Date, with respect to each
Mortgage Loan, the sum of the related (a) Servicing Fee, (b) Master Servicing
Fee, (c) for any Distribution Date after the Put Date applicable to such
Mortgage Loan, the Supplemental Fee, and (d) the Premium Payment Rate.
GROSS MARGIN: For each Mortgage Loan, the applicable fixed per
annum percentage rate specified in the applicable Mortgage Note and
designated as such in Exhibit D hereto.
GROUP I BANKRUPTCY COVERAGE INITIAL AMOUNT: $110,667.
GROUP I CERTIFICATES: The Class I-A Certificates and the Class I-R
Certificates.
GROUP I FRAUD COVERAGE INITIAL AMOUNT: $5,713,731.
GROUP I LOANS: The Mortgage Loans designated on the Mortgage Loan
Schedule as Group I Loans.
GROUP I PUT DATE: The Distribution Date in July, 2000.
GROUP I SPECIAL HAZARD COVERAGE INITIAL AMOUNT: $2,856,865.
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GROUP II BANKRUPTCY COVERAGE INITIAL AMOUNT: $148,720.
GROUP II CERTIFICATES: The Class II-A Certificates and the Class
II-R Certificates, collectively.
GROUP II FRAUD COVERAGE INITIAL AMOUNT: $8,199,965.
GROUP II LOANS: The Mortgage Loans designated on the Mortgage Loan
Schedule as Group II Loans.
GROUP II PUT DATE: The Distribution Date in July, 2001.
GROUP II SPECIAL HAZARD COVERAGE INITIAL AMOUNT: $6,394,339.
INDEX: The weekly average yield on United States Treasury
Securities adjusted to a constant maturity of one year, as made available by
the Federal Reserve Board, published in Federal Reserve Statistical Release
H.15(519) most recently available as of 45 days before the applicable
Adjustment Date. In the event the Index is no longer available, the Master
Servicer will select a substitute Index in accordance with the terms of the
related Mortgage Note and in compliance with applicable law.
INDIRECT DTC PARTICIPANTS: Entities such as banks, brokers, dealers
or trust companies, that clear through or maintain a custodial relationship
with a DTC Participant, either directly or indirectly.
INSURANCE AGREEMENT: The Insurance Agreement, dated as of September
1, 1997, among the Certificate Insurer, the Trustee, the Bank and the
Company.
INSURANCE PROCEEDS: Amounts paid or payable by the insurer under
any Primary Insurance Policy or any other insurance policy (including any
replacement policy permitted under this Agreement), but excluding the
Certificate Insurance Policy, covering any Mortgage Loan or Mortgaged
Property, including, without limitation, any hazard insurance policy required
pursuant to Section 3.07, any title insurance policy required pursuant to
Section 2.03, and any FHA insurance policy or VA guaranty.
INSURED PAYMENT: (i) As of any Distribution Date or the Put Date,
as applicable, any Deficiency Amount and (ii) any Preference Amount.
INSURED CERTIFICATES: The Class I-A, the Class I-R, the Class II-A
and the Class II-R Certificates.
INTEREST DISTRIBUTION AMOUNT: On any Distribution Date, for each
Class of the Class A Certificates, the sum of (x) the amount of interest
accrued on the respective Class Principal Balance for such Class at 1/12th
the applicable Remittance Rate during the Prior Period before giving effect
to distributions to be made on such Distribution Date, and (y) the portion of
the Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates, reduced by (i) the portion
allocated to such Class of Uncompensated Interest
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Shortfall; (ii) the portion allocated to such Class of any interest
shortfalls related to the Relief Act; and (iii) the portion allocated to such
Class of the amounts which would otherwise be Compensating Interest but for
the Master Servicer's failure to remit such amounts to the Certificate
Account pursuant to Section 3.04(a). For the purposes of this definition,
the portion set forth in clauses (i), (ii) and (iii) of the preceding
sentence shall be a fraction, the numerator of which is the applicable Target
Rate and the denominator of which is the weighted average Pass-Through Rate
of the related Loan Group for such Distribution Date; provided however that
for all Distribution Dates (i) after the applicable Put Date or (ii) on which
the applicable Target Rate exceeds the applicable weighted average
Pass-Through Rate, the portion shall be the entire applicable shortfall.
INTEREST SHORTFALL: With respect to any Distribution Date, for each
Class of Class A Certificates, the excess, if any, of (i) the Accrued
Certificate Target Rate Interest for the applicable Class of Class A
Certificates over (ii) the aggregate of the Monthly Interest Payments due on
the Mortgage Loans in the related Loan Group on the Due Date in the month of
such Distribution Date less the Gross Amount for such Loan Group. For each
Class of Class A Certificates, with respect to any Distribution Date
following the applicable Put Date, the Interest Shortfall will be deemed to
be zero.
INVESTMENT ACCOUNT: The account (which shall not be commingled with
any other investment accounts or any monies from any other transactions)
maintained by the Master Servicer in the trust department of the Investment
Depository pursuant to Section 3.03 and which bears a designation acceptable
to the Rating Agency and the Certificate Insurer.
INVESTMENT DEPOSITORY: Chemical Bank, New York, New York or another
bank or trust company designated from time to time by the Master Servicer.
The Investment Depository shall at all times be an Eligible Institution.
LAST SCHEDULED DISTRIBUTION DATE: With respect to each Class of
Class A Certificates, the Distribution Date in the month after the scheduled
maturity date for the latest maturing Mortgage Loan in the related Loan Group
as set forth in the Preliminary Statement hereto.
LATE REMITTANCES: With respect to each Loan Group any Compensating
Interest, advances or other remittances from the Master Servicer or Servicer
which is required to be remitted by the Master Servicer or Servicer but is
not remitted until after the third Business Day prior to the Distribution
Date to which such Compensating Interest, advances or other remittances from
the Master Servicer or Servicer relate and because such compensating
Interest, Advance or remittance was not paid in a timely fashion an amount
was withdrawn from the related Reserve Fund which would not have been
withdrawn if such payment had been timely paid.
LENDER: An institution from which the Company purchased any
Mortgage Loan pursuant to a Servicing Contract.
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LIQUIDATED MORTGAGE LOAN: A Mortgage Loan as to which the Master
Servicer or the applicable Servicer has determined in accordance with its
customary servicing practices that all amounts which it expects to recover
from or on account of such Mortgage Loan, whether from Insurance Proceeds,
Liquidation Proceeds or otherwise have been recovered. For purposes of this
definition, acquisition of a Mortgaged Property by the Trust Fund shall not
constitute final liquidation of the related Mortgage Loan.
LIQUIDATION PRINCIPAL: The principal portion of Liquidation
Proceeds received with respect to each Mortgage Loan which became a
Liquidated Mortgage Loan (but not in excess of the principal balance thereof)
during the Prior Period.
LIQUIDATION PROCEEDS: Amounts after deduction of amounts
reimbursable under Section 3.05(a)(i) and (ii) received and retained in
connection with the liquidation of defaulted Mortgage Loans, whether through
foreclosure or otherwise, other than Insurance Proceeds.
LOAN GROUP: Loan Group I or Loan Group II, as applicable.
LOAN GROUP I: The group of Mortgage Loans comprised of the Group I
Loans.
LOAN GROUP II: The group of Mortgage Loans comprised of the Group
II Loans.
LOAN-TO-VALUE RATIO: The original principal amount of a Mortgage
Loan divided by the Original Value; however, references to "current
Loan-to-Value Ratio" shall mean the then current Principal Balance of a
Mortgage Loan divided by the Original Value.
MASTER SERVICER: The Company, or any successor Master Servicer
appointed as provided pursuant to Section 7.02, acting to service and
administer the Mortgage Loans pursuant to Section 3.01.
MASTER SERVICING AMOUNT: With respect to any Distribution Date, for
each Mortgage Loan, the product of the aggregate outstanding Principal
Balance of the Mortgage Loan as of the first day of the month preceding the
month of such Distribution Date and 1/12th of the applicable Master Servicing
Fee.
MASTER SERVICING FEE: The percentage used to calculate the amount
charged by the Master Servicer for supervising the mortgage servicing and
advancing certain expenses, equal to a per annum rate set forth for each
Mortgage Loan in Exhibit D.
MONTHLY INTEREST PAYMENT: The interest portion of the Monthly
Payment.
MONTHLY P&I ADVANCE: An advance of funds by the Master Servicer
pursuant to Section 4.03 or a Servicer pursuant to its Servicing Contract to
cover delinquent principal and interest installments.
MONTHLY PAYMENT: The scheduled payment of principal and interest on
a Mortgage Loan (including any amounts due from a Buydown Fund, if any) which
is due on the related Due Date for such Mortgage Loan.
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MOODY'S: Moody's Investors Service, Inc., or its successor in
interest.
MORTGAGE: The mortgage, deed of trust or other instrument securing
a Mortgage Note.
MORTGAGE FILE: The following documents or instruments with respect
to each Mortgage Loan transferred and assigned pursuant to Section 2.01, with
respect to each Mortgage Loan:
(i) The original Mortgage Note either endorsed to (a) "First
Bank National Association, as Custodian/Trustee, without recourse"
or "First Bank National Association, as trustee for the benefit of
the Holders from time to time of PNC Mortgage Securities Corp.
Mortgage Pass-Through Certificates, Series 1997-6, without
recourse" or (b) "U.S. Bank National Association, as
Custodian/Trustee, without recourse" or "U.S. Bank National
Association, as trustee for the benefit of the Holders from time to
time of PNC Mortgage Securities Corp. Mortgage Pass-Through
Certificates, Series 1997-6, without recourse" and all intervening
endorsements evidencing a complete chain of endorsements from the
originator to the Trustee, or, in the event of any Destroyed
Mortgage Note, a copy or a duplicate original of the Mortgage Note,
together with an original lost note affidavit from the originator
of the related Mortgage Loan or the Company stating that the
original Mortgage Note was lost, misplaced or destroyed, together
with a copy of the related Mortgage Note; in the event the Mortgage
Notes or the assignments referred to in Section (iii)(2) of this
definition of "Mortgage File" are endorsed or executed in blank as
of the Closing Date, the Company shall, within 45 days of the
Closing Date, cause such Mortgage Notes or assignments to be
endorsed or executed pursuant to the terms set forth herein;
(ii) The Buydown Agreement, if applicable;
(iii) A Mortgage that is either
(1) the original recorded Mortgage with recording
information thereon for the jurisdiction in which the Mortgaged
Property is located, together with a Mortgage assignment thereof
in recordable form to "First Bank National Association, as
Custodian/Trustee", to "U.S. Bank National Association, as
Custodian/Trustee", to "First Bank National Association, as
Trustee for the Holders of PNC Mortgage Securities Corp. Mortgage
Pass-Through Certificates, Series 1997-6" or to "U.S. Bank
National Association, as trustee for the benefit of the Holders
from time to time of PNC Mortgage Securities Corp. Mortgage
Pass-Through Certificates, Series 1997-6, without recourse" and
all intervening assignments with evidence of a recording thereon
and evidencing a complete chain of assignment, from the originator
to the name holder or the payee endorsing the related Mortgage
Note; or
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(2) a copy of the Mortgage which represents a true and
correct reproduction of the original Mortgage and which has either
been certified (i) on the face thereof by the public recording
office in the appropriate jurisdiction in which the Mortgaged
Property is located, or (ii) by the originator or Lender as a true
and correct copy the original of which has been sent for
recordation and an original Mortgage assignment thereof duly
executed and acknowledged in recordable form to "First Bank
National Association, as Custodian/Trustee", to "U.S. Bank
National Association, as Custodian/Trustee", to "First Bank
National Association, as Trustee for the Holders of PNC Mortgage
Securities Corp. Mortgage Pass-Through Certificates, Series
1997-6" or to "U.S. Bank National Association, as trustee for the
benefit of the Holders from time to time of PNC Mortgage
Securities Corp. Mortgage Pass-Through Certificates, Series
1997-6, without recourse" and all intervening assignments with
evidence of a recording thereon and evidencing a complete chain of
assignment from the originator to the name holder or the payee
endorsing the related Mortgage Note;
(iv) A copy of (a) the title insurance policy, or
(b) in lieu thereof, a title insurance binder, a copy of an
attorney's title opinion, certificate or other evidence of title
acceptable to the Company and the Certificate Insurer; and
(v) For any Mortgage Loan that has been modified or
amended, the original instrument or instruments effecting such
modification or amendment.
MORTGAGE INTEREST RATE: For any Mortgage Loan, the per annum rate
at which interest accrues on such Mortgage Loan pursuant to the terms of the
related Mortgage Note.
MORTGAGE LOAN SCHEDULE: The schedule, as amended from time to time,
of Mortgage Loans attached hereto as Exhibit D, which shall set forth as to
each Mortgage Loan the following, among other things:
(i) its loan number,
(ii) its Loan Group,
(iii) the address of the Mortgaged Property,
(iv) the name of the Mortgagor,
(v) the Original Value of the property subject to the Mortgage,
(vi) the Principal Balance as of the Cut-Off Date,
(vii) the Mortgage Interest Rate as of the Cut-Off Date and the
Adjustment Date, Rate Ceiling, Periodic Cap and Gross Margin borne by
the Mortgage Note,
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(viii) whether a Primary Insurance Policy is in effect as of the
Cut-Off Date,
(ix) the maturity of the Mortgage Note, and
(x) the Servicing Fee and Master Servicing Fee.
MORTGAGE LOANS: With respect to each Mortgage Loan, the Mortgages and
the related Mortgage Notes, each transferred and assigned to the Trustee
pursuant to the provisions hereof as from time to time are held as part of
the Trust Fund, the Mortgage Loans so held being identified in the Mortgage
Loan Schedule.
MORTGAGE NOTE: The note or other evidence of indebtedness
evidencing the indebtedness of a Mortgagor under a Mortgage Loan.
MORTGAGE POOL: All of the Mortgage Loans.
MORTGAGED PROPERTY: With respect to any Mortgage Loan, the real
property, together with the improvements thereto, securing the indebtedness
of the Mortgagor under the related Mortgage Loan.
MORTGAGOR: The obligor on a Mortgage Note.
NONRECOVERABLE ADVANCE: Any advance which the Master Servicer shall
determine to be a Nonrecoverable Advance pursuant to Section 4.04 and which
was, or is proposed to be, made by (i) the Master Servicer or (ii) a Servicer
pursuant to its Servicing Contract.
NON-U.S. PERSON: A Person that is not a U.S. Person.
NOTICE: The telephonic or telegraphic notice, promptly confirmed
in writing by telecopy substantially in the form of Exhibit A attached to the
Certificate Insurance Policy, the original of which is subsequently delivered
by registered or certified mail, from the Trustee specifying the Insured
Payment which shall be due and owing on the applicable Distribution Date, or
Put Date, as applicable.
OTS: The Office of Thrift Supervision, or any successor thereto.
OFFICER'S CERTIFICATE: A certificate signed by the Chairman of the
Board, the President, a Vice President, or the Treasurer of the Master
Servicer and delivered to the Trustee with a copy to the Certificate Insurer.
OPINION OF COUNSEL: A written opinion of counsel, who shall be
reasonably acceptable to the Trustee and the Certificate Insurer and who may
be counsel for the Company or the Master Servicer. Each Opinion of Counsel
delivered pursuant to this Agreement shall be addressed to and reasonably
acceptable to the Certificate Insurer.
ORIGINAL VALUE: With respect to any Mortgage Loan other than a
Mortgage Loan originated for the purpose of refinancing an existing mortgage
debt, the lesser of (a) the Appraised
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Value (if any) of the Mortgaged Property at the time the Mortgage Loan was
originated or (b) the purchase price paid for the Mortgaged Property by the
Mortgagor. With respect to a Mortgage Loan originated for the purpose of
refinancing existing mortgage debt, the Original Value shall be equal to the
Appraised Value of the Mortgaged Property at the time the Mortgage Loan was
originated or the appraised value at the time the refinanced mortgage debt
was incurred.
OWNER: Each Holder of an Insured Certificate who, on the
applicable Distribution Date or Put Date, as applicable, is entitled under
the terms of the Insured Certificates to payment thereunder.
OWNERSHIP INTEREST: As defined in Section 5.01(b).
PASS-THROUGH ENTITY: As defined in Section 5.01(b).
PASS-THROUGH RATE: With respect to any Mortgage Loan and any
Distribution Date, the Mortgage Interest Rate as of the first day of the
Prior Period less Gross Fees.
PAYING AGENT: Any paying agent appointed by the Trustee pursuant
to Section 8.12.
PAYOFF: Any Mortgagor payment of principal on a Mortgage Loan
equal to the entire outstanding Principal Balance of such Mortgage Loan, if
received in advance of the last scheduled Due Date for such Mortgage Loan and
accompanied by an amount of interest equal to accrued unpaid interest on the
Mortgage Loan to the date of such payment-in-full.
PAYOFF EARNINGS: For any Distribution Date with respect to each
Mortgage Loan on which a Payoff was received by the Master Servicer during
the Payoff Period, the aggregate of the interest earned by the Master
Servicer from investment of each such Payoff from the date of receipt of such
Payoff until the Business Day immediately preceding the related Distribution
Date (net of investment losses).
PAYOFF INTEREST: For any Distribution Date with respect to a
Mortgage Loan for which a Payoff was received after the first calendar day of
the month of such Distribution Date and before the 15th calendar day of such
month, an amount of interest thereon at the applicable Pass-Through Rate, to
the extent received, accruing from the first day of the month of distribution
through the day of receipt thereof; to the extent (together with Payoff
Earnings and the aggregate Master Servicing Amount) not required to be
distributed as Compensating Interest on such Distribution Date, Payoff
Interest shall be payable to the Master Servicer as additional servicing
compensation.
PAYOFF PERIOD: With respect to the first Distribution Date, the
period from the Cut-Off Date through October 14, 1997, inclusive; and with
respect to any Distribution Date thereafter, the period from the 15th day of
the Prior Period through the 14th day of the month of such Distribution Date,
inclusive.
PERCENTAGE INTEREST: With respect to the right of each Certificate
of a particular Class in the distributions allocated to such Class,
"Percentage Interest" shall mean the percentage undivided beneficial
ownership interest evidenced by such Certificate of such Class, which
percentage shall equal:
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(i) with respect to any Class A Certificate, its Certificate
Principal Balance divided by the applicable Class Principal Balance;
and
(ii) with respect to the Class R Certificates, the percentage
set forth on the face of such Certificate.
PERIODIC CAP: For each Mortgage Loan, the applicable limit on
adjustment of the Mortgage Interest Rate for each Adjustment Date (other than
with respect to the first Adjustment Date) specified in the applicable
Mortgage Note and designated as such on Exhibit D hereto.
PERMITTED TRANSFEREE: With respect to the holding or ownership of
any Residual Certificate, any Person other than (i) the United States, a
State or any political subdivision thereof, or any agency or instrumentality
of any of the foregoing, (ii) a foreign government, International
Organization or any agency or instrumentality of either of the foregoing,
(iii) an organization (except certain farmers' cooperatives described in Code
Section 521) which is exempt from the taxes imposed by Chapter 1 of the Code
(unless such organization is subject to the tax imposed by Section 511 of the
Code on unrelated business taxable income), (iv) rural electric and telephone
cooperatives described in Code Section 1381(a)(2)(C), (v) any Person from
whom the Trustee has not received an affidavit to the effect that it is not a
"disqualified organization" within the meaning of Section 860E(e)(5) of the
Code, and (vi) any other Person so designated by the Company based upon an
Opinion of Counsel that the transfer of an Ownership Interest in a Residual
Certificate to such Person may cause the applicable REMIC to fail to qualify
as a REMIC at any time that the Certificates are outstanding. The terms
"United States," "State" and "International Organization" shall have the
meanings set forth in Code Section 7701 or successor provisions. A
corporation shall not be treated as an instrumentality of the United States
or of any State or political subdivision thereof if all of its activities are
subject to tax, and, with the exception of the FHLMC, a majority of its board
of directors is not selected by such governmental unit.
PERSON: Any individual, corporation, limited liability company,
partnership, joint venture, association, joint-stock company, trust,
unincorporated organization or government or any agency or political
subdivision thereof.
PREFERENCE AMOUNT: Any amount previously distributed to an Owner
on the Insured Certificates that is recoverable and sought to be recovered as
a voidable preference by a trustee in bankruptcy pursuant to the United
States Bankruptcy Code (11 U.S.C.), as amended from time to time in
accordance with a final nonappealable order of a court having competent
jurisdiction.
PREMIUM AMOUNT: With respect to the Class I-A and Class I-R
Certificates, beginning on the Distribution Date in November 1997 and on each
Distribution Date thereafter, the product of the outstanding Class Principal
Balance of such Class I-A Certificates, prior to any distributions on such
Distribution Date and 1/12th of the applicable Premium Payment Rate. With
respect to the Class II-A and Class II-R Certificates, beginning on the
Distribution Date in November 1997 and on each Distribution Date thereafter,
the product of the outstanding Class
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Principal Balance of such Class II-A Certificates prior to any distributions
on such Distribution Date and 1/12th of the applicable Premium Payment Rate.
PREMIUM PAYMENT RATE: With respect to the Class I-A and Class I-R
Certificates, 0.115% per annum and with respect to the Class II-A and Class
II-R Certificates, 0.105% per annum.
PREPAID MONTHLY PAYMENT: Any Monthly Payment received prior to its
scheduled Due Date, which is intended to be applied to a Mortgage Loan on its
scheduled Due Date and held in the related Custodial Account for P&I until
the Withdrawal Date following its scheduled Due Date.
PRIMARY INSURANCE POLICY: A policy of mortgage guaranty insurance,
if any, on an individual Mortgage Loan, providing coverage as required by
Section 2.03(xi).
PRINCIPAL BALANCE: At the time of any determination, the principal
balance of a Mortgage Loan remaining to be paid at the close of business on
the Cut-Off Date, after deduction of all principal payments due on or before
the Cut-Off Date and not paid, reduced by all amounts distributed or to be
distributed to Certificateholders thorough the Distribution Date in the month
of determination that are reported as allocable to principal of such Mortgage
Loan.
In the case of a Substitute Mortgage Loan, "Principal Balance"
shall mean, at the time of any determination, the principal balance of such
Substitute Mortgage Loan transferred to the Trust Fund on the date of
substitution, reduced by all amounts distributed or to be distributed to
Certificateholders through the Distribution Date in the month of
determination that are reported as allocable to principal of such Substitute
Mortgage Loan.
The Principal Balance of a Mortgage Loan (including a Substitute
Mortgage Loan) shall not be adjusted solely by reason of any bankruptcy or
similar proceeding or any moratorium or similar waiver or grace period.
Whenever a Realized Loss has been incurred with respect to a Mortgage Loan
during a calendar month, the Principal Balance of such Mortgage Loan shall be
reduced by the amount of such Realized Loss as of the Distribution Date next
following the end of such calendar month after giving effect to the
allocation of Realized Losses and distributions of principle to the
Certificates.
PRINCIPAL PAYMENT: Any payment of principal on a Mortgage Loan
other than a Principal Prepayment.
PRINCIPAL PAYMENT AMOUNT: On any Distribution Date and for any
Loan Group, with respect to the Mortgage Loans in such Loan Group, the sum of
(i) the scheduled principal payments on such Mortgage Loans due on the
related Due Date to the extent received or advanced, (ii) the principal
portion of repurchase proceeds received with respect to any such Mortgage
Loan which was repurchased by the Company pursuant to a Purchase Obligation
or as permitted by this Agreement during the Prior Period, and (iii) any
other unscheduled payments of principal which were received with respect to
any such Mortgage Loan during the Prior Period, other than Payoffs,
Curtailments and Liquidation Principal.
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PRINCIPAL PREPAYMENT: Any payment of principal on a Mortgage Loan
which constitutes a Payoff or a Curtailment.
PRINCIPAL PREPAYMENT AMOUNT: On any Distribution Date and for any
Loan Group, with respect to the Mortgage Loans in such Loan Group, the sum of
(i) Curtailments received during the Prior Period from such Mortgage Loans
and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.
PRIOR PERIOD: The calendar month immediately preceding any
Distribution Date.
PURCHASE OBLIGATION: An obligation of the Company to repurchase
Mortgage Loans under the circumstances and in the manner provided in Section
2.02 or Section 2.03.
PURCHASE PRICE: With respect to any Mortgage Loan to be purchased
pursuant to a Purchase Obligation, an amount equal to the sum of the
Principal Balance thereof, and unpaid accrued interest thereon, if any, to
the last day of the calendar month in which the date of repurchase occurs at
a rate equal to the applicable Pass-Through Rate; provided, however, that no
Mortgage Loan shall be purchased or required to be purchased pursuant to
Section 2.03, or more than two years after the Closing Date under Section
2.02, unless (a) the Mortgage Loan to be purchased is in default, or default
is in the judgment of the Company reasonably imminent, or (b) the Company, at
its expense, delivers to the Trustee an Opinion of Counsel to the effect that
the purchase of such Mortgage Loan will not give rise to a tax on a
prohibited transaction, as defined in Section 860F(a) of the Code; provided,
further, that in the case of clause (b) above, the Company will use its
reasonable efforts to obtain such Opinion of Counsel if such opinion is
obtainable.
PUT DATE: The Group I Put Date and the Group II Put Date.
PUT OPTION: The option of each Certificateholder of a Class A
Certificate to require the Bank to purchase such Certificateholder's Class A
Certificates on the applicable Put Date, exercisable during the 30-day period
ending on the second Distribution Date preceding the Put Date applicable to
the related Loan Group.
PUT PURCHASE PRICE: With respect to any Certificate for which the
related Certificateholder has exercised the Put Option, the Bank has
exercised the Clean-Up Option or the Certificate Insurer has exercised the
Certificate Insurer Clean-Up Option, the sum of the outstanding Certificate
Principal Balance of such Certificate on the Put Date (after giving effect to
distributions otherwise made on such date) plus accrued and unpaid interest
thereon at the applicable Remittance Rate up to the Put Date.
QUALIFIED INSURER: A mortgage guaranty insurance company duly
qualified as such under the laws of the states in which the Mortgaged
Properties are located if such qualification is necessary to issue the
applicable insurance policy or bond, duly authorized and licensed in such
states to transact the applicable insurance business and to write the
insurance provided by the Primary Insurance Policies and approved as an
insurer by FHLMC or FNMA and the Master Servicer. A Qualified Insurer must
have the rating required by the Rating Agency.
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RATE CEILING: The maximum per annum Mortgage Interest Rate
permitted under the related Mortgage Note.
RATING AGENCY: Initially, each of S&P and Moody's, thereafter,
each nationally recognized statistical rating organization approved in
writing by the Certificate Insurer that has rated the Certificates at the
request of the Company, or their respective successors in interest.
RATINGS: As of any date of determination, the ratings, if any, of
the Certificates as assigned by the Rating Agency.
REALIZED LOSS: For any Distribution Date, with respect to any
Mortgage Loan which became a Liquidated Mortgage Loan during the related
Prior Period, the sum of (i) the principal balance of such Mortgage Loan
remaining outstanding and the principal portion of Nonrecoverable Advances
actually reimbursed with respect to such Mortgage Loan (the principal portion
of such Realized Loss), and (ii) the accrued interest on such Mortgage Loan
remaining unpaid and the interest portion of Nonrecoverable Advances actually
reimbursed with respect to such Mortgage Loan (the interest portion of such
Realized Loss), after the application of the Liquidation Proceeds. For any
Distribution Date, with respect to any Mortgage Loan which is not a
Liquidated Mortgage Loan, the amount of the Bankruptcy Loss incurred with
respect to such Mortgage Loan as of the related Due Date.
During a Certificate Insurer Default, the principal portion of any
Realized Loss not covered by the applicable Reserve Fund shall be allocated
to the related Class A Certificates in reduction of the applicable Class
Principal Balance.
RECORD DATE: The last Business Day of the month immediately
preceding the month of the related Distribution Date.
RELATED CLASS A CERTIFICATES: The Class I-A or Class II-A
Certificates, as applicable.
RELATED INSURED CERTIFICATES: The Class I-A Certificates and the
Class I-R Certificates with respect to Loan Group I and the Class II-A
Certificates and the Class II-R Certificates with respect to Loan Group II,
as applicable.
RELATED RESIDUAL CERTIFICATES: The Class I-R or the Class II-R
Certificates, as applicable.
RELIEF ACT: The Soldiers' and Sailors' Civil Relief Act of 1940,
as amended.
REMIC: A real estate mortgage investment conduit, as such term is
defined in the Code.
REMIC I: The segregated pool of assets, with respect to which a
REMIC election is to be made, consisting of the Group I Loans. REMIC I shall
not include (i) either of the Reserve Funds, (ii) the Yield Supplement
Account, (iii) Excess Interest for Loan Group II or (iv) any payments with
respect to the Certificate Insurance Policy.
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REMIC II: The segregated pool of assets, with respect to which a
REMIC election is to be made, consisting of the Group II Loans. REMIC II
shall not include (i) either of the Reserve Funds, (ii) the Yield Supplement
Account, (iii) Excess Interest for Loan Group I, or (iv) any payments with
respect to the Certificate Insurance Policy.
REMIC PROVISIONS: Sections 860A through 860G of the Code, related
Code provisions and regulations promulgated thereunder, as the foregoing may
be in effect from time to time.
REMITTANCE RATE: For any Class of Class A Certificates, with
respect to any Distribution Date, (i) on or prior to the applicable Put Date,
the lesser of (x) the Target Rate for the applicable Class of Certificates
and (y) the sum of (a) the weighted average (by principal balance) of the
Pass-Through Rates on the Mortgage Loans in the related Loan Group for such
Distribution Date, (b) twelve times the ratio, expressed as a percentage, of
the Excess Interest, if any, received from the other Loan Group, divided by
the Class Principal Balance of such Class of Certificates (which percentage
shall be deemed to be zero after the Distribution Date in July, 2000), and
(c) twelve times the ratio, expressed as a percentage, of the applicable
Yield Supplement Amount divided by the Class Principal Balance of such Class
of Certificates and (ii) after the applicable Put Date, the weighted average
(by principal balance) of the Pass-Through Rates on the Mortgage Loans in the
related Loan Group for such Distribution Date.
REQUIRED ACCOUNT LEVEL: On each Distribution Date, $50,000.
RESERVE FUND: Either the Class I-A Reserve Fund or the Class II-A
Reserve Fund, or both the Class I-A Reserve Fund and the Class II-A Reserve
Fund, as the context requires.
RESERVE FUND COVERED AMOUNT: With respect to each Distribution
Date and a Loan Group, the excess of (a) the sum of (i) the Interest
Distribution Amount, (ii) the Excess Interest Amount, (iii) the Principal
Payment Amount, (iv) the Principal Prepayment Amount and (v) the sum of the
principal balances of the Mortgage Loans which became Liquidated Mortgage
Loans during the Prior Period over the sum of (b) (i) the related Available
Amount and (ii) the sum of any Special Hazard Losses in excess of Special
Hazard Coverage, Fraud Losses in excess of Fraud Coverage and Bankruptcy
Losses in excess of Bankruptcy Coverage.
RESERVE FUND INITIAL AMOUNT: The Class I-A Reserve Fund Initial
Amount and the Class II-A Reserve Fund Initial Amount.
RESERVE FUND LIQUIDATION AMOUNT: For each Loan Group, the
aggregate of, for each Mortgage Loan in such Loan Group which became a
Liquidated Mortgage Loan during the Prior Period, the excess, if any, of the
Liquidation Principal with respect to such Mortgage Loan over the lesser of
(a) the product of (x) the Stated Principal Balance of such Mortgage Loan and
(y) the difference between 100% and the related Reserve Fund Percentage and
(b) the product of (x) the Liquidation Principal with respect to such
Mortgage Loan and (y) difference between 100% and the related Reserve Fund
Prepayment Percentage.
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RESERVE FUND PERCENTAGE: For each Class of Class A Certificates,
with respect to any Distribution Date, the amount in the related Reserve
Fund, prior to any withdrawals on such date, divided by the related Class
Principal Balance of such Class, prior to any distributions on such date.
RESERVE FUND PREPAYMENT PERCENTAGE: For each Class of Class A
Certificates, (i) on any Distribution Date occurring before the Distribution
Date in the month of the tenth anniversary of the first Distribution Date,
0%; and (ii) on any other Distribution Date in each of the months of the
tenth anniversary of the first Distribution Date and thereafter, the Reserve
Fund Prepayment Percentage in effect prior to such Distribution Date, unless:
(a) aggregate Realized Losses on the Mortgage Loans in such
Distribution Date if such Distribution Date is during the
twelve month period commencing on the tenth, eleventh,
twelfth, thirteenth or fourteenth anniversary of the month of
the first Distribution Date, (or any Distribution Date
thereafter) have not exceeded 30%, 35%, 40%, 45% or 50%,
respectively, of the related Reserve Fund Initial Amount, and
(b) over the prior six months, the average aggregate outstanding
principal balance of the Mortgage Loans in the related Loan
Group delinquent 60 days or more (including for this purpose
any such Mortgage Loans in foreclosure and Mortgage Loans
with respect to which the related Mortgaged Property has been
acquired by the Trust Fund) has not exceeded 2% of the
average aggregate outstanding principal balance of all
Mortgage Loans in the related Loan Group,
in which case, as follows: (1) for any such Distribution Date in or after
the month of the tenth anniversary of the month of the first Distribution
Date but before the eleventh anniversary of the month of the first
Distribution Date, 30% of the related Reserve Fund Percentage for such
Distribution Date; (2) for any such Distribution Date in or after the month
of the eleventh anniversary of the month of the first Distribution Date but
before the twelfth anniversary of the month of the first Distribution Date,
40% of the related Reserve Fund Percentage for such Distribution Date; (3)
for any such Distribution Date in or after the month of the twelfth
anniversary of the month of the first Distribution Date but before the
thirteenth anniversary of the month of the first Distribution Date, 60% of
the related Reserve Fund Percentage for such Distribution Date; (4) for any
such Distribution Date in or after the month of the thirteenth anniversary of
the month of the first Distribution Date but before the fourteenth
anniversary of the month of the first Distribution Date, 80% of the related
Reserve Fund Percentage for such Distribution Date; and (5) for any such
Distribution Date thereafter, the Reserve Fund Percentage for such
Distribution Date, PROVIDED, HOWEVER, that if on any Distribution Date on or
after the month of the third anniversary of the first Distribution Date (a)
the Reserve Fund Percentage for such Class equals at least twice the initial
Reserve Fund Percentage, (b) aggregate Realized Losses on the Mortgage Loans
in the related Loan Group from the Closing Date up to such Distribution Date
if such Distribution Date is during the twelve month period commencing on the
third, fourth, fifth or sixth anniversary of the month of the first
Distribution Date, have not
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exceeded 10%, 15%, 20% or 25%, respectively, of the related Reserve Fund
Initial Amount, (ii) if such Distribution Date is during the period
commencing on the seventh anniversary of the month of the first Distribution
Date and ending prior to the tenth anniversary of the month of the first
Distribution Date, have not exceeded 30% of the related Reserve Fund Initial
Amount and (iii) if such Distribution Date is during the twelve month period
commencing on the tenth, eleventh, twelfth, thirteenth or fourteenth
anniversary of the month of the first Distribution Date (or any Distribution
Date thereafter) have not exceeded 30%, 35%, 40%, 45% or 50%, respectively,
of the related Reserve Fund Initial Amount and (c) over the prior six months,
the average aggregate outstanding principal balance of the Mortgage Loans in
the related Loan Group delinquent 60 days or more (including for this purpose
any such Mortgage Loans in foreclosure and Mortgage Loans with respect to
which the related Mortgaged Property has been acquired by the Trust Fund) has
not exceeded 2% of the average aggregate outstanding principal balance of all
Mortgage Loans in the related Loan Group, then the related Reserve Fund
Prepayment Percentage for such Distribution Date will be the related Reserve
Fund Percentage for such Distribution Date.
RESERVE FUND RELEASE AMOUNT: For each Reserve Fund for any
Distribution Date, the sum of (i) the related Reserve Fund Percentage of the
Principal Payment Amount of the related Loan Group distributed on such
Distribution Date, (ii) the related Reserve Fund Prepayment Percentage of the
Principal Prepayment Amount of the related Loan Group distributed on such
Distribution Date and (iii) the related Reserve Fund Liquidation Amount;
PROVIDED, HOWEVER, that on any Distribution Date on which the respective
Reserve Fund Percentage (before giving effect to any distributions or
releases) is less than the respective initial Reserve Fund Percentage, the
related Reserve Fund Prepayment Percentage will be zero, unless the
distributions of principal to the related Class A Certificates on such
Distribution Date would raise the related Reserve Fund Percentage above the
initial Reserve Fund Percentage, in which case the related Reserve Fund
Release Amount shall be the lesser of (i) Reserve Fund Release Amount
calculated in accordance with this definition without giving effect to this
proviso and (ii) the amount necessary to lower the related Reserve Fund
Percentage to its initial level, otherwise the Reserve Fund Release Amount
shall be zero.
RESIDUAL ALLOCABLE SHARE: For each Class of Residual Certificates
for any Distribution Date, a fraction, the numerator of which is the excess,
if any, of (i) the weighted average Pass-Through Rate of the Mortgage Loans
in the related Loan Group for such Distribution Date over (ii) the Target
Rate for such Loan Group, and the denominator of which is the weighted
average Pass-Through Rate of the Mortgage Loans in such Loan Group for such
Distribution Date. For each Class of Residual Certificates for any
Distribution Date after the applicable Put Date, the Residual Allocable Share
will be deemed to be zero.
RESIDUAL CERTIFICATES: The Class I-R Certificates and the Class
II-R Certificates. The Class I-R and Class II-R Certificates are hereby
designated the sole Class of "residual interests" in REMIC I and REMIC II,
respectively, for purposes of Section 860G(a)(2) of the Code.
RESIDUAL DISTRIBUTION AMOUNT: On any Distribution Date, any
portion of the Available Distribution Amount for a Loan Group remaining after
all other distributions pursuant
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to Section 4.01(a) including distributions to the related Class A
Certificates and distributions of Excess Interest, if any, paid to the other
Class of Class A Certificates or deposited to the Yield Supplement Account
and distributions of Excess Interest paid to the Holders of the Residual
Certificates pursuant to clause (i)(B)(2) of the definition of "Certificate
Distribution Amount". Upon termination of the obligations created by this
Agreement and the Trust Fund created hereby, the amounts which remain on
deposit in the Certificate Account after all other distributions, including
payment to the Certificateholders of the amounts set forth in Section 9.01 of
this Agreement, payment of the outstanding Certificate Insurer Reimbursement
Amount, if any, reimbursement to the Master Servicer for expenses incurred by
and reimbursable to it pursuant to Section 6.03, and subject to the
conditions set forth therein.
RESPONSIBLE OFFICER: When used with respect to the Trustee, any
officer assigned to and working in its Corporate Trust Department or similar
group and also, with respect to a particular matter, any other officer to
whom such matter is referred because of such officer's knowledge of and
familiarity with the particular subject.
S&P: Standard & Poor's Ratings Services, a division of The
McGraw-Hill Companies, Inc., provided that at any time it be a Rating Agency.
SECURITIES ACT: The Securities Act of 1933, as amended.
SELLING AND SERVICING CONTRACT: (a) The contract (including the
PNC Mortgage Securities Corp. Selling Guide and PNC Mortgage Securities Corp.
Servicing Guide to the extent incorporated by reference therein) between the
Master Servicer and a Person relating to the sale of the Mortgage Loans to
the Company and the servicing of such Mortgage Loans, on behalf of the Master
Servicer for the benefit of the Certificateholders and the Certificate
Insurer, as such contract may be amended or modified; provided, however, that
any such amendment or modification shall not materially adversely affect the
interests and rights of Certificateholders and the Certificate Insurer; and
(b) any other similar contract providing substantially similar rights and
benefits as those provided by such form of contract.
SERVICER: A mortgage loan servicing institution to which the
Master Servicer has assigned servicing duties with respect to any Mortgage
Loan under a Servicing Contract; provided, however, the Master Servicer may
designate itself or one or more other mortgage loan servicing institutions as
Servicer upon termination of an initial Servicer's servicing duties.
SERVICING AMOUNT: With respect to any Distribution Date, for each
Mortgage Loan, the product of the aggregate outstanding Principal Balance of
the Mortgage Loan as of the first day of the month preceding the month of
such Distribution Date and 1/12th of the applicable Servicing Fee.
SERVICING CONTRACT: The contract between the Company and a
servicer relating to the servicing of one or more Mortgage Loans on behalf of
the Master Servicer which contract is substantially in the form of Exhibit E
hereto and incorporates by reference the PNC Mortgage Securities Corp.
Servicing Guide.
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SERVICING FEE: For each Mortgage Loan, the percentage used to
calculate the amount paid to the Servicer thereof to perform primary
servicing functions for the Master Servicer with respect to such Mortgage
Loan, equal to the per annum rate set forth in the Mortgage Loan Schedule.
SERVICING OFFICER: Any officer of the Master Servicer involved in,
or responsible for, the administration and servicing of the Mortgage Loans
whose name and specimen signature appear on a list of servicing officers
furnished to the Trustee and the Certificate Insurer by the Master Servicer,
as such list may from time to time be amended.
SPECIAL HAZARD COVERAGE: For each Loan Group, the Special Hazard
Coverage Initial Amount for such Loan Group less Special Hazard Losses
incurred for such Loan Group, without regard to the coverage provided by the
Certificate Insurance Policy, and the amount of any scheduled reduction in
the amount of Special Hazard Coverage for such Loan Group as follows: on
each anniversary of the Cut-Off Date, the Special Hazard Coverage for such
Loan Group shall be reduced, but not increased, to an amount equal to the
lesser of (1) the greatest of (a) the aggregate principal balance of the
Mortgage Loans in the related Loan Group located in the single California zip
code area containing the largest aggregate principal balance of the Mortgage
Loans, (b) 1% of the aggregate unpaid principal balance of the Mortgage Loans
in the related Loan Group, and (c) twice the unpaid principal balance of the
largest single Mortgage Loan in such Loan Group, in each case calculated as
of the Due Date in the immediately preceding month, and (2) the Special
Hazard Coverage Initial Amount for such Loan Group as reduced by the Special
Hazard Losses allocated to the Certificates related to such Loan Group since
the Cut-Off Date. Special Hazard Coverage for such Loan Group may be reduced
upon written confirmation from the Rating Agency that such reduction will not
adversely affect the then current ratings assigned to the Certificates
related to such Loan Group by the Rating Agency (determined in the case of
the Class A Certificates without regard to the effect of the Certificate
Insurance Policy) and upon receipt by the Trustee of the prior written
consent of the Certificate Insurer.
SPECIAL HAZARD LOSS: The occurrence of any direct physical loss or
damage to a Mortgaged Property not covered by a standard hazard maintenance
policy with extended coverage which is caused by or results from any cause
except: (i) fire, lightning, windstorm, hail, explosion, riot, riot
attending a strike, civil commotion, vandalism, aircraft, vehicles, smoke,
sprinkler leakage, except to the extent of that portion of the loss which was
uninsured because of the application of a co-insurance clause of any
insurance policy covering these perils; (ii) normal wear and tear, gradual
deterioration, inherent vice or inadequate maintenance of all or part
thereof; (iii) errors in design, faulty workmanship or materials, unless the
collapse of the property or a part thereof ensues and then only for the
ensuing loss; (iv) nuclear reaction or nuclear radiation or radioactive
contamination, all whether controlled or uncontrolled and whether such loss
be direct or indirect, proximate or remote or be in whole or in part caused
by, contributed to or aggravated by a peril covered by this definition of
Special Hazard Loss; (v) hostile or warlike action in time of peace or war,
including action in hindering, combating or defending against an actual,
impending or expected attack (a) by any government of sovereign power (DE
JURE or DE FACTO), or by an authority maintaining or using military, naval or
air forces, (b) by military, naval or air forces, or (c) by an agent of any
such government, power, authority or forces; (vi) any
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weapon of war employing atomic fission or radioactive force whether in time
of peace or war; (vii) insurrection, rebellion, revolution, civil war,
usurped power or action taken by governmental authority in hindering,
combating or defending against such occurrence; or (viii) seizure or
destruction under quarantine or customs regulations, or confiscation by order
of any government or public authority.
STATED PRINCIPAL BALANCE: With respect to any Mortgage Loan as of
any date of determination, the Principal Balance of such Mortgage Loan as of
the Cut-off Date, after application of all scheduled principal payments paid
or advanced on or before the Cut-off Date, reduced by all amounts allocable
to principal that have been distributed to Certificateholders with respect to
such Mortgage Loan on or before such date of determination, and as further
reduced to the extent that any Realized Loss thereon has been allocated to
one or more Classes of Certificates on or before the date of determination.
SUBSTITUTE MORTGAGE LOAN: As defined in Section 2.02.
SUPPLEMENTAL FEE: With respect to the Mortgage Loans in Loan Group
I, 1.335% and with respect to the Mortgage Loans in Loan Group II, 1.345%.
SUPPLEMENTAL AMOUNT: With respect to any Distribution Date
following the applicable Put Date, for each Mortgage Loan, the product of the
aggregate outstanding Principal Balance of the Mortgage Loan as of the first
day of the month preceding the month of such Distribution Date and 1/12th of
the applicable Supplemental Fee.
TARGET RATE: For the Class I-A Certificates 6.490% and for the
Class II-A Certificates 6.600%.
TAX MATTERS PERSON: For REMIC I, the Holder of the Class I-R
Certificate issued hereunder having an Authorized Denomination of 0.01% or
any Permitted Transferee of such Class I-R Certificateholder. For REMIC II,
the Holder of the Class II-R Certificate issued hereunder having an
Authorized Denomination of 0.01% or any Permitted Transferee of such Class
II-R Certificateholder. If either of the Tax Matters Persons becomes a
Disqualified Organization, the last preceding Holder of such Authorized
Denomination of the Class I-R or Class II-R Certificate, as applicable, that
is not a Disqualified Organization shall be Tax Matters Person for REMIC I or
REMIC II, as applicable, pursuant to Section 5.01(c). If any Person is
appointed as tax matters person by the Internal Revenue Service for REMIC I
or REMIC II pursuant to the Code, such Person shall be Tax Matters Person for
REMIC I or REMIC II, as applicable.
TERMINATION DATE: As defined in Section 9.01(b).
TERMINATION PAYMENT: As defined in Section 9.01(b).
TRANSFER: As defined in Section 5.01(b).
TRANSFEREE: As defined in Section 5.01(b).
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TRANSFEREE AFFIDAVIT AND AGREEMENT: As defined in Section
5.01(c)(i)(B).
TRUST: As defined in Section 2.01.
TRUST FUND: The corpus of the trust created pursuant to Section
2.01 of this Agreement. The Trust Fund consists of (i) the Mortgage Loans
and all rights pertaining thereto; (ii) such assets as from time to time may
be held by the Trustee (or its duly appointed agent including the Investment
Depository) in the Certificate Account or the Investment Account (except
amounts representing the Master Servicing Amount for the Mortgage Loans (not
including Compensating Interest) or the Servicing Amount for the Mortgage
Loans); (iii) such assets as from time to time may be held by Servicers in a
Custodial Account for P&I related to the Mortgage Loans (except amounts
representing the Master Servicing Amount for the Mortgage Loans (not
including Compensating Interest) or the Servicing Amount for the Mortgage
Loans); (iv) property which secured a Mortgage Loan and which has been
acquired by foreclosure or deed in lieu of foreclosure after the Cut-Off
Date; (v) amounts paid or payable by the insurer under any FHA insurance
policy or any Primary Insurance Policy and proceeds of any VA guaranty and
any other insurance policy related to any Mortgage Loan or the Mortgage Pool;
and (vi) the Certificate Insurance Policy and the proceeds thereof, the
Reserve Funds, and such assets as from time to time may be held by the
Trustee in the Yield Supplement Account.
TRUSTEE: U.S. Bank National Association, which is the successor by
merger to First Bank National Association, or its successor-in-interest as
provided in Section 8.09, or any successor trustee appointed as herein
provided.
UNCERTIFICATED CLASS I-A REGULAR INTEREST: An uncertificated
partial undivided beneficial ownership interest in REMIC I having an
uncertificated principal balance equal to the aggregate Certificate Principal
Balance of the Class I-A Certificates, and which bears interest (a) prior to
the applicable Put Date at the lesser of (i) the applicable Target Rate and
(ii) the weighted average coupon for Loan Group I, less the applicable Gross
Fees, and (b) after the applicable Put Date, at the weighted average coupon
for Loan Group I less the applicable Gross Fees. On each Distribution Date
the Uncertificated Class I-A Regular Interest shall be deemed to have
received a distribution in respect of interest and principal from the
Available Distribution Amount for Loan Group I. For purposes solely of such
deemed distribution, the Available Distribution Amount shall be deemed to
have been applied as follows:
(a) First, pro rata to the Uncertificated Class I-A Regular
Interest and the Excess Interest for Loan Group I in respect
of accrued interest for the Prior Period and any accrued
interest for prior Distribution Dates remaining unpaid, in
each case reduced by a pro rata share of (i) any Uncompensated
Interest Shortfall, (ii) any interest shortfalls attributable
to the Relief Act, (iii) amounts which would otherwise have
been Compensating Interest but for the Master Servicer's
failure to remit such amounts to the Certificate Account
pursuant to Section 3.04(a), and (iv) the interest portion of
any Realized Losses in respect of Mortgage Loans that became
Liquidated Mortgage Loans during the Prior Period;
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(b) Second, to the Uncertificated Class I-A Regular Interest in
reduction of the principal balance thereof.
The principal balance of the Uncertificated Class I-A Regular Interest shall be
deemed to have been further reduced on each Distribution Date by the amount of
the principal portion of Realized Losses on the Group I Mortgage Loans for the
Prior Period. Notwithstanding any provision of this definition, actual
distributions to holders of the Class I-A and the Class I-R Certificates shall
be made only as provided therefor in the remainder of this Agreement.
UNCERTIFICATED CLASS II-A REGULAR INTEREST: An uncertificated
partial undivided beneficial ownership interest in REMIC II having an
uncertificated principal balance equal to the aggregate Certificate Principal
Balance of the Class II-A Certificates, and which bears interest (a) prior to
the applicable Put Date at the lesser of (i) the applicable Target Rate and
(ii) the weighted average coupon for Loan Group II, less the applicable Gross
Fees, and (b) after the applicable Put Date, at the weighted average coupon
for Loan Group II less the applicable Gross Fees. On each Distribution Date
the Uncertificated Class II-A Regular Interest shall be deemed to have
received a distribution in respect of interest and principal from the
Available Distribution Amount for Loan Group II. For purposes solely of such
deemed distribution, the Available Distribution Amount shall be deemed to
have been applied as follows:
(c) Second, to the Uncertificated Class II-A Regular Interest in
reduction of the principal balance thereof..
The principal balance of the Uncertificated Class II-A Regular Interest shall be
deemed to have been further reduced on each Distribution Date by the amount of
the principal portion of Realized Losses on the Group II Mortgage Loans for the
Prior Period. Notwithstanding any provision of this definition, actual
distributions to holders of the Class II-A and the Class II-R Certificates shall
be made only as provided therefor in the remainder of this Agreement.
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UNCOMPENSATED INTEREST SHORTFALL: With respect to a Loan Group,
for any Distribution Date, the excess, if any, of (i) the sum of (a)
aggregate shortfalls in interest collections as a result of Payoffs with
respect to the Mortgage Loans comprising such Loan Group and (b) aggregate
Curtailment Shortfall with respect to the Mortgage Loans comprising such Loan
Group over (ii) Compensating Interest with respect to such Loan Group.
UNDERWRITER: Goldman, Sachs & Co., and Donaldson, Lufkin &
Jenrette Securities Corporation, and PNC Capital Markets, Inc., collectively.
UNDERWRITING STANDARDS: The underwriting standards of PNC Mortgage
Corp. of America.
UNINSURED CAUSE: Any cause of damage to a Mortgaged Property, the
cost of the complete restoration of which is not fully reimbursable under the
hazard insurance policies required to be maintained pursuant to Section 3.07.
U.S. PERSON: A citizen or resident of the United States, a
corporation, partnership or other entity created or organized in or under the
laws of the United States or any political subdivision thereof, or an estate
or trust that is subject to U.S. federal income tax regardless of the source
of its income, or a trust if a court within the United States is able to
exercise primary supervision over the administration of the trust and one or
more United States fiduciaries have the authority to control all substantial
decisions of the trust.
VA: The Department of Veterans Affairs, formerly known as the
Veterans Administration, or any successor thereto.
WITHDRAWAL DATE: Any day during the period commencing on the 18th
day of the month of the related Distribution Date (or if such day is not a
Business Day, the immediately preceding Business Day) and ending on the last
Business Day prior to the 21st day of the month of such Distribution Date.
YIELD SUPPLEMENT ACCOUNT: The separate trust account created and
maintained by the Trustee with the corporate trust department of the Trustee,
the Investment Depository or any other Eligible Institution which is
incorporated under the laws of the United States or any state thereof, which
account shall bear a designation clearly indicating that the funds deposited
therein are held in trust for the benefit of the Trustee on behalf of the
Class A Certificateholders and the Certificate Insurer, or any other account
serving a similar function acceptable to the Rating Agency or the Certificate
Insurer, and which account provides that the Trustee may make, or cause to be
made, withdrawals of the Yield Supplement Amount which shall be distributed
to the applicable Class A Certificates on the respective Distribution Date,
to the extent of the amount then remaining in the Yield Supplement Account.
YIELD SUPPLEMENT AMOUNT: With respect to any Distribution Date,
for each Loan Group, (i) if there is no Interest Shortfall for such Loan
Group, zero; (ii) if there is an Interest Shortfall only for such Loan Group,
the lesser of (a) the amount of such Interest Shortfall less the Excess
Interest received from the other Loan Group and (b) the amount on deposit in
the Yield
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Supplement Account; and (iii) if there are Interest Shortfalls for both Loan
Groups, the amount of the Interest Shortfall with respect to such Loan Group
up to such Loan Group's pro rata share (by amount of Interest Shortfall) of
the amount in the Yield Supplement Account. For each Loan Group, for each
Distribution Date after the Put Date applicable to the related Class of Class
A Certificates, the Yield Supplement Amount will be deemed to be zero.
ARTICLE II
CREATION AND CONVEYANCE OF THE TRUST FUND; REMIC ELECTION AND DESIGNATIONS;
ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. CREATION AND CONVEYANCE OF THE TRUST FUND; REMIC ELECTION
AND DESIGNATIONS.
A trust (the "Trust") of which the Trustee is the trustee is hereby
created under the laws of the State of New York for the benefit of the
Holders of the Certificates and the Certificate Insurer. The purpose of the
Trust is to hold the Trust Fund and provide for the issuance, execution and
delivery of the Certificates. The assets of the Trust shall consist of the
Trust Fund. The Trust shall be irrevocable.
The assets of the Trust shall remain in the custody of the Trustee,
on behalf of the Trust, and shall be kept in the Trust. Moneys to the credit
of the Trust shall be held by the Trustee and invested as provided herein.
All assets received and held in the Trust will not be subject to any right,
charge, security interest, lien or claim of any kind in favor of U.S. Bank
National Association in its own right, or any Person claiming through it.
The Trustee, on behalf of the Trust, shall not have the power or authority to
transfer, assign, hypothecate, pledge or otherwise dispose of any of the
assets of the Trust to any Person, except as permitted herein. No creditor
of a beneficiary of the Trust, of the Trustee, or of the Company shall have
any right to obtain possession of, or otherwise exercise legal or equitable
remedies with respect to, the property of the Trust, except in accordance
with the terms of this Agreement.
Concurrently with the execution and delivery hereof, the Company
does hereby irrevocably sell, transfer, assign, set over and otherwise convey
to the Trustee, in trust for the benefit of the Certificateholders and the
Certificate Insurer, without recourse, all the Company's right, title and
interest in and to the Trust Fund, including but not limited to all scheduled
payments of principal and interest due after the Cut-Off Date and received by
the Company with respect to the Mortgage Loans at any time, and all Principal
Prepayments received by the Company after the Cut-Off Date (such transfer and
assignment by the Company to be referred to herein as the "Conveyance"). The
Trustee hereby accepts the Trust created hereby and accepts delivery of the
Trust Fund on behalf of the Trust and acknowledges that it holds the Mortgage
Loans for the benefit of the Holders of the Certificates issued pursuant to
this Agreement and the Certificate Insurer. It is the express intent of the
parties hereto that the Conveyance of the Trust Fund to the Trustee by the
Company as provided in this Section 2.01 be, and be construed as, an absolute
sale of the Trust Fund. It is, further, not the intention of the parties that
such Conveyance be deemed a pledge of the Trust Fund by the Company to the
Trustee to secure a debt or other obligation of the Company. However, in the
event that, notwithstanding the intent of the parties,
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the Trust Fund is held to be the property of the Company, or if for any other
reason this Agreement is held or deemed to create a security interest in the
Trust Fund, then
(a) this Agreement shall be deemed to be a security agreement;
(b) the Conveyance provided for in this Section 2.01 shall be
deemed to be a grant by the Company to the Trustee of a security interest in
all of the Company's right, title, and interest, whether now owned or
hereafter acquired, in and to:
(i) All accounts, contract rights, general intangibles,
chattel paper, instruments, documents, money, deposit accounts,
certificates of deposit, goods, letters of credit, advices of
credit and uncertificated securities consisting of, arising from or
relating to any of the property described in (x) and (y) below: (x)
the Mortgage Loans including the Mortgage Notes, related Mortgages,
and title, hazard and primary mortgage insurance policies
identified on the Mortgage Loan Schedule as defined herein,
including all Substitute Mortgage Loans, and all distributions with
respect thereto payable on and after the Cut-Off Date; and (y) the
Certificate Account, the Investment Account, the Custodial Accounts
for P&I and the Custodial Accounts for Reserves, the Class I-A
Reserve Fund, and the Class II-A Reserve Fund, and the Yield
Supplement Account including all property therein and all income
from the investment of funds therein (including any accrued
discount realized on liquidation of any investment purchased at a
discount);
(ii) All accounts, contract rights, general intangibles,
chattel paper, instruments, documents, money, deposit accounts,
certificates of deposit, goods, letters of credit, advices of
credit, uncertificated securities, and other rights arising from or
by virtue of the disposition of, or collections with respect to, or
insurance proceeds payable with respect to, or claims against other
persons with respect to, all or any part of the collateral
described in (i) above (including any accrued discount realized on
liquidation of any investment purchased at a discount); and
(iii) All cash and non-cash proceeds of the collateral
described in (i) and (ii) above;
(c) the possession by the Trustee of the Mortgage Notes, the
Mortgages, and such other goods, letters of credit, advices of credit,
instruments, money, documents, chattel paper or certificated securities shall
be deemed to be "possession by the secured party," or possession by a
purchaser or a person designated by him or her, for purposes of perfecting
the security interest pursuant to the Uniform Commercial Code (including,
without limitation, Sections 9-305, 8-313 or 8-321 thereof) as in force in
the relevant jurisdiction; and
(d) notifications to persons holding such property, and
acknowledgments, receipts or confirmations from persons holding such
property, shall be deemed to be notifications to, or acknowledgments,
receipts or confirmations from, financial intermediaries, bailees or agents
(as applicable) of the Trustee for the purpose of perfecting such security
interest under applicable law.
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The Company and the Trustee at the direction of the
Company or the Certificate Insurer shall, to the extent consistent with this
Agreement, take such actions as may be necessary to ensure that, if this
Agreement were deemed to create a security interest in the Trust Fund, such
security interest would be deemed to be a perfected security interest of
first priority under applicable law and will be maintained as such throughout
the term of the Agreement. In connection herewith, the Trustee shall have all
of the rights and remedies of a secured party and creditor under the Uniform
Commercial Code as in force in the relevant jurisdiction.
In connection with the sale, transfer and assignment
referred to in the first paragraph of this Section 2.01, the Company,
concurrently with the execution and delivery hereof, does deliver to, and
deposit with, or cause to be delivered to and deposited with, the Trustee or
Custodian the Mortgage Files.
Concurrently with the execution and delivery hereof, the
Company shall cause assignments of the Mortgage Loans to the Trustee to be
recorded or filed.
In instances where the original recorded Mortgage or any
intervening assignment thereof (recorded or in recordable form) cannot be
delivered by the Company to the Trustee prior to or concurrently with the
execution and delivery hereof (due to a delay on the part of the recording
office), the Company may, in lieu of delivering such original documents,
deliver to the Trustee a fully legible reproduction of the original Mortgage
or intervening assignment provided that the related Lender or originator
certifies on the face of such reproduction(s) or copy as follows: "Certified
true and correct copy of original which has been transmitted for
recordation." For purposes hereof, transmitted for recordation means having
been mailed or otherwise delivered for recordation to the appropriate
authority. In all such instances, the Company shall transmit the original
recorded Mortgage and any intervening assignments with evidence of recording
thereon (or a copy of such original Mortgage or intervening assignment
certified by the applicable recording office)(collectively, "Recording
Documents") to the Trustee within 270 days after the execution and delivery
hereof. In instances where, due to a delay on the part of the recording
office where any such Recording Documents have been delivered for
recordation, the Recording Documents cannot be delivered to the Trustee
within 270 days after execution and delivery hereof, the Company shall
deliver to the Trustee within such time period a certificate (a "Company
Officer's Certificate") signed by the Chairman of the Board, President, any
Vice President or Treasurer of the Company stating the date by which the
Company expects to receive such Recording Documents from the applicable
recording office. In the event that Recording Documents have still not been
received by the Company and delivered to the Trustee by the date specified in
its previous Company Officer's Certificate delivered to the Trustee, the
Company shall deliver to the Trustee by such date an additional Company
Officer's Certificate stating a revised date by which the Company expects to
receive the applicable Recording Documents. This procedure shall be repeated
until the Recording Documents have been received by the Company and delivered
to the Trustee.
In instances where, due to a delay on the part of the
title insurer, a copy of the title insurance policy for a particular Mortgage
Loan cannot be delivered to the Trustee prior to or concurrently with the
execution and delivery hereof, the Company shall provide a copy of such title
insurance policy to the Trustee within 90 days after the Company's receipt of
the Recording
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Documents necessary to issue such title insurance policy. In addition, the
Company shall, subject to the limitations set forth in the preceding
sentence, provide to the Trustee upon request therefor a duplicate title
insurance policy for any Mortgage Loan.
For Mortgage Loans for which the Company has received a
Payoff after the Cut-Off Date and prior to the date of execution and delivery
hereof, the Company, in lieu of delivering the above documents, herewith
delivers to the Trustee a certification of a Servicing Officer of the nature
set forth in Section 3.10.
The Trustee is authorized, with the Master Servicer's and
the Certificate Insurer's consent, to appoint any bank or trust company
approved by and unaffiliated with each of the Company, the Lender, the Bank
and the Master Servicer as Custodian of the documents or instruments referred
to above in this Section 2.01, and to enter into a Custodial Agreement
acceptable to the Certificate Insurer for such purpose, provided, however,
that the Trustee shall be and remain liable for the acts of any such
Custodian only to the extent that it is responsible for its own acts
hereunder.
The Company and the Trustee agree that the Company, as
agent for the Tax Matters Person, shall, on behalf of the Trust Fund, elect
to treat REMIC I and REMIC II as REMICs within the meaning of Section 860D of
the Code and, if necessary, under applicable state laws. Such elections shall
be included in the Form 1066 and any appropriate state returns to be filed on
behalf of the REMICs constituted by the Trust Fund for their first taxable
years.
The Closing Date is hereby designated as the "startup
day" of REMIC I and REMIC II within the meaning of Section 860G(a)(9) of the
Code.
The Uncertificated Class I-A Regular Interest and the
Uncertificated Class II-A Regular Interest are hereby designated as "regular
interests" for purposes of Section 860G(a)(1) of the Code for REMIC I and
REMIC II, respectively. The Class I-R and the Class II-R Certificates are
hereby designated as the class of "residual interests" for purposes of
Section 860G(a)(2) of the Code for REMIC I and REMIC II, respectively.
The parties intend that the affairs of REMIC I and REMIC
II formed hereunder shall constitute, and that the affairs of REMIC I and
REMIC II shall be conducted so as to qualify REMIC I and REMIC II as REMICs.
In furtherance of such intention, the Company covenants and agrees that it
shall act as agent for the Tax Matters Person (and the Company is hereby
appointed to act as agent for such Tax Matters Person) on behalf of REMIC I
and REMIC II and that in such capacity it shall: (a) prepare and file, or
cause to be prepared and filed, a federal tax return using a calendar year as
the taxable year and using an accrual method of accounting for REMIC I and
REMIC II when and as required by the REMIC Provisions and other applicable
federal income tax laws; (b) make an election, on behalf of the trust, for
REMIC I and REMIC II to be treated as REMICs on the federal tax return of
REMIC I and REMIC II for their first taxable year, in accordance with the
REMIC Provisions; (c) prepare and forward, or cause to be prepared and
forwarded, to the Certificateholders and the Trustee, all information reports
as and when required to be provided to them in accordance with the REMIC
Provisions, and make available the information necessary for the application
of Section 860E(e) of the Code;
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(d) conduct the affairs of REMIC I and REMIC II at all times that any
Certificates are outstanding so as to maintain the status of REMIC I and
REMIC II as REMICs under the REMIC Provisions; (e) not knowingly or
intentionally take any action or omit to take any action that would cause the
termination of the REMIC status of REMIC I or REMIC II; and (f) pay the
amount of any federal prohibited transaction penalty taxes imposed on REMIC I
or REMIC II when and as the same shall be due and payable (but such
obligation shall not prevent the Company or any other appropriate person from
contesting any such tax in appropriate proceedings and shall not prevent the
Company from withholding payment of such tax, if permitted by law, pending
the outcome of such proceedings); provided, that the Company shall be
entitled to be indemnified by the Trust Fund for any such prohibited
transaction penalty taxes if the Company's failure to exercise reasonable
care was not the primary cause of the imposition of such prohibited
transaction penalty taxes.
The Trustee and the Master Servicer shall promptly
provide the Company with such information as the Company may from time to
time request for the purpose of enabling the Company to prepare tax returns.
In the event that a Mortgage Loan is discovered to have a
defect which, had such defect been discovered before the startup day, would
have prevented the Mortgage Loan from being a "qualified mortgage" within the
meaning of Section 860G(a)(3) of the Code, and the Company does not
repurchase such Mortgage Loan within 90 days of such date, the Master
Servicer, on behalf of the Trustee, shall within 90 days of the date such
defect is discovered sell such Mortgage Loan at such price as the Master
Servicer in its sole discretion, determines to be the greatest price (not
less than the outstanding principal balance thereof plus accrued interest
unless approved by the Certificate Insurer) that will result in the purchase
thereof within 90 days of such date, unless the Master Servicer delivers to
the Trustee and the Certificate Insurer an Opinion of Counsel to the effect
that continuing to hold such Mortgage Loan will not adversely affect the
status of the electing portion of REMIC I or REMIC II as REMICs for federal
income tax purposes.
In the event that any tax is imposed on "prohibited
transactions" of REMIC I or REMIC II as defined in Section 860F of the Code
and not paid by the Company pursuant to clause (f) of the third preceding
paragraph, such tax shall be charged against amounts (other than Excess
Interest) otherwise distributable to the Class R Certificateholders.
Notwithstanding anything to the contrary contained herein, the Trustee is
hereby authorized to retain from amounts otherwise distributable to the Class
R Certificateholders (other than Excess Interest) on any Distribution Date
sufficient funds to reimburse the Company in its capacity as agent for the
Tax Matters Person for the payment of such tax (upon the written request of
the Company, to the extent reimbursable, and to the extent that the Company
has not been previously reimbursed therefor).
Section 2.02. ACCEPTANCE BY TRUSTEE. The Trustee acknowledges receipt
(or with respect to any Mortgage Loan subject to a Custodial Agreement,
receipt by the Custodian thereunder) of the documents (or certified copies
thereof as specified in Section 2.01) referred to in Section 2.01 above, but
without having made the review required to be made within 45 days pursuant to
this Section 2.02, and declares that as of the Closing Date it holds and will
hold such
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documents and the other documents constituting a part of the Mortgage Files
delivered to it, and the Trust Fund, as Trustee in trust, upon the trust
herein set forth, for the use and benefit of the Holders from time to time of
the Certificates and the Certificate Insurer. The Trustee agrees, for the
benefit of the Certificateholders and the Certificate Insurer, to review or
cause the Custodian to review each Mortgage File within 45 days after the
Closing Date and deliver to the Company and the Certificate Insurer a
certification in the form attached as Exhibit M hereto, to the effect that
all documents required (in the case of instruments described in clauses (v)
of the definition of "Mortgage File," known by the Trustee to be required)
pursuant to the third paragraph of Section 2.01 have been executed and
received, and that such documents relate to the Mortgage Loans identified in
the Mortgage Loan Schedule. In performing such review, the Trustee may rely
upon the purported genuineness and due execution of any such document, and on
the purported genuineness of any signature thereon. The Trustee shall not be
required to make any independent examination of any documents contained in
each Mortgage File beyond the review specifically required herein. The
Trustee makes no representations as to: (i) the validity, legality,
enforceability or genuineness of any of the Mortgage Loans identified on the
Mortgage Loan Schedule, or (ii) the collectability, insurability,
effectiveness or suitability of any Mortgage Loan. If the Trustee finds any
document or documents constituting a part of a Mortgage File not to have been
executed or received, or to be unrelated to the Mortgage Loans identified in
the Mortgage Loan Schedule, the Trustee shall promptly so notify the Company.
The Company hereby covenants and agrees that, if any such defect cannot be
corrected or cured, the Company shall, not later than 60 days after the
Trustee's notice to it respecting such defect, within the three-month period
commencing on the Closing Date (or within the two-year period commencing on
the Closing Date if the related Mortgage Loan is a "defective obligation"
within the meaning of Section 860G(a)(4)(B)(ii) of the Code and Treasury
Regulation Section 1.860G-2(f)), either (i) repurchase the related Mortgage
Loan from the Trustee at the Purchase Price, or (ii) substitute for any
Mortgage Loan to which such defect relates a different mortgage loan (a
"Substitute Mortgage Loan") which is a "qualified replacement mortgage" (as
defined in the Code) and, (iii) after such three-month or two-year period, as
applicable, the Company shall repurchase the Mortgage Loan from the Trustee
at the Purchase Price but only if the Mortgage Loan is in default or default
is, in the judgment of the Company, reasonably imminent. If such defect would
cause the Mortgage Loan to be other than a "qualified mortgage" (as defined
in the Code), then notwithstanding the previous sentence, repurchase or
substitution must occur within the sooner of (i) 90 days from the date the
defect was discovered or (ii) in the case of substitution, two years from the
Closing Date.
Such Substitute Mortgage Loan shall be an adjustable rate
mortgage loan with an initial fixed rate period of five years and annual
adjustments thereafter based on the Index, shall mature no later than, and
not more than two years earlier than, have a principal balance and
Loan-to-Value Ratio equal to or less than, and have a Pass-Through Rate on
the date of substitution equal to or no more than 1% greater than, a Gross
Margin and Rate Ceiling equal to or greater than, the Mortgage Loan being
substituted for. If the aggregate of the principal balances of the Substitute
Mortgage Loans substituted for a Mortgage Loan is less than the Principal
Balance of such Mortgage Loan, the Company shall pay the difference in cash
to the Trustee for deposit into the Certificate Account, and such payment by
the Company shall be treated in the same manner as proceeds of the repurchase
by the Company of a Mortgage Loan pursuant to this Section 2.02.
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Furthermore, such Substitute Mortgage Loan shall otherwise have such
characteristics so that the representations and warranties of the Company set
forth in Section 2.03 hereof would not have been incorrect had such
Substitute Mortgage Loan originally been a Mortgage Loan. A Substitute
Mortgage Loan may be substituted for a defective Mortgage Loan whether or not
such defective Mortgage Loan is itself a Substitute Mortgage Loan.
The Purchase Price for each repurchased Mortgage Loan
shall be deposited by the Company in the Certificate Account and, upon
receipt by the Trustee of written notification of such deposit signed by a
Servicing Officer, the Trustee shall release to the Company the related
Mortgage File and shall execute and deliver such instruments of transfer or
assignment, in each case without recourse, as shall be necessary to vest in
the Company or its designee or assignee title to any Mortgage Loan released
pursuant hereto. The obligation of the Company to repurchase or substitute
any Mortgage Loan as to which such a defect in a constituent document exists
shall constitute the sole remedy respecting such defect available to the
Certificateholders or the Trustee on behalf of the Certificateholders.
Section 2.03. REPRESENTATIONS AND WARRANTIES. The Company hereby
represents and warrants to the Trustee and the Certificate Insurer that:
(i) The information set forth in the Mortgage Loan
Schedule was true and correct in all material respects at the
date or dates respecting which such information is furnished;
(ii) As of the Closing Date, each Mortgage is a valid and
enforceable (subject to Section 2.03(xvi)) first lien on an
unencumbered estate in fee simple or leasehold estate in the
related Mortgaged Property subject only to (a) liens for current
real property taxes and special assessments; (b) covenants,
conditions and restrictions, rights of way, easements and other
matters of public record as of the date of recording such
Mortgage, such exceptions appearing of record being acceptable
to mortgage lending institutions generally or specifically
reflected in the appraisal obtained in connection with the
origination of the Mortgage Loan; (c) exceptions set forth in
the title insurance policy relating to such Mortgage, such
exceptions being acceptable to mortgage lending institutions
generally; and (d) other matters to which like properties are
commonly subject which do not materially interfere with the
benefits of the security intended to be provided by the Mortgage;
(iii) As of the Closing Date, the Company had good title
to, and was the sole owner of, each Mortgage Loan free and clear
of any encumbrance or lien, and immediately upon the transfer and
assignment herein contemplated, the Trustee shall have good title
to, and will be the sole legal owner of, each Mortgage Loan, free
and clear of any encumbrance or lien (other than any lien under
this Agreement);
(iv) As of the day prior to the Cut-Off Date, all payments
due on each Mortgage Loan had been made and no Mortgage Loan had
been delinquent
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(i.e., was more than 30 days past due) more than once in the
preceding 12 months and any such delinquency lasted for no more
than 30 days;
(v) As of the Closing Date, there is no late assessment for
delinquent taxes outstanding against any Mortgaged Property;
(vi) As of the Closing Date, there is no offset, defense or
counterclaim to any Mortgage Note, including the obligation of
the Mortgagor to pay the unpaid principal or interest on such
Mortgage Note;
(vii) As of the Closing Date, each Mortgaged Property
is free of damage and in good repair, ordinary wear and tear
excepted;
(viii) Each Mortgage Loan at the time it was made
complied with all applicable state and federal laws, including,
without limitation, usury, equal credit opportunity, disclosure
and recording laws;
(ix) Each Mortgage Loan was originated by a savings
association, savings bank, credit union, insurance company, or
similar institution which is supervised and examined by a
federal or state authority or by a mortgagee approved by the FHA
and will be serviced by an institution which meets the servicer
eligibility requirements established by the Company;
(x) As of the Closing Date, each Mortgage Loan is covered
by an ALTA form or CLTA form of mortgagee title insurance policy
or other form of policy of insurance which, as of the
origination date of such Mortgage Loan, was acceptable to FNMA
or FHLMC, and has been issued by, and is the valid and binding
obligation of, a title insurer which, as of the origination date
of such Mortgage Loan, was acceptable to FNMA or FHLMC and
qualified to do business in the state in which the related
Mortgaged Property is located. Such policy insures the
originator of the Mortgage Loan, its successors and assigns as
to the first priority lien of the Mortgage in the original
principal amount of the Mortgage Loan subject to the exceptions
set forth in such policy. Such policy is in full force and
effect and will be in full force and effect and inure to the
benefit of the Certificateholders upon the consummation of the
transactions contemplated by this Agreement and no claims have
been made under such policy, and no prior holder of the related
Mortgage, including the Company, has done, by act or omission,
anything which would impair the coverage of such policy;
(xi) As of the Closing Date, each Mortgage Loan which had a
Loan-to-Value Ratio at the time of the origination of the
Mortgage Loan in excess of 80% was covered by a Primary Insurance
Policy or an FHA insurance policy or a VA guaranty, and such
policy or guaranty is valid and remains in full force and effect,
except for any Mortgage Loan for which the outstanding Principal
Balance thereof at any time subsequent to origination was 80% or
less of the then current value of the related Mortgaged Property
(as determined by an appraisal obtained subsequent to
origination);
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(xii) As of the Closing Date, all policies of insurance
required by this Agreement or by a Servicing Contract have been
validly issued and remain in full force and effect, including
such policies covering the Company or any Servicer;
(xiii) As of the Closing Date, each insurer issuing a Primary
Insurance Policy holds a rating acceptable to the Rating Agency;
(xiv) Each Mortgage was documented by appropriate FNMA/FHLMC
mortgage instruments in effect at the time of origination, or
other instruments approved by the Company;
(xv) As of the Closing Date, the Mortgaged Property securing
each Mortgage is improved with a one- to four-family dwelling
unit, including units in a duplex, condominium project,
townhouse, a planned unit development or a de minimis planned
unit development;
(xvi) As of the Closing Date, each Mortgage and Mortgage Note
is the legal, valid and binding obligation of the maker thereof
and is enforceable in accordance with its terms, except only as
such enforcement may be limited by laws affecting the enforcement
of creditors' rights generally and principles of equity;
(xvii) As of the date of origination, as to Mortgaged
Properties which are units in condominiums or planned unit
developments, all of such units met FNMA or FHLMC requirements,
are located in a condominium or planned unit development
projects which have received FNMA or FHLMC approval, or are
approvable by FNMA or FHLMC;
(xviii) Prior to origination or refinancing, an appraisal of
each Mortgaged Property was made by an appraiser on a form
satisfactory to FNMA or FHLMC; ;except with respect to certain
refinanced Mortgage Loans, where the appraisal obtained in
connection with the origination of the refinanced debt may have
been used to underwrite the Mortgage Loan;
(xix) The Mortgage Loans have been underwritten substantially
in accordance with the applicable Underwriting Standards;
(xx) All of the Mortgage Loans have due-on-sale clauses; by
the terms of the Mortgage Notes, however, the due on sale
provisions may not be exercised at the time of a transfer if
prohibited by law or with respect to the period following the
applicable Adjustment Date if the proposed transferee meets the
creditworthiness requirements of the mortgagee.
(xxi) The Company used no adverse selection procedures in
selecting the Mortgage Loans from among the outstanding
adjustable rate conventional mortgage loans purchased by it
which were available for inclusion in the Mortgage Pool and as
to which the representations and warranties in this Section 2.03
could be made;
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(xxii) None of the Mortgage Notes related to the Mortgage
Loans is a Destroyed Mortgage Note;
(xxiii) As of the date of origination, no Mortgage Loan had a
Loan-to-Value Ratio in excess of 100%;
(xxiv) Each Mortgage Loan constitutes a "qualified mortgage"
under Section 860G(a)(3)(A) of the Code and Treasury Regulations
Section 1.860G-2(a)(1);
(xxv) Each Mortgage contains customary and enforceable
(subject to Section 2.03(xvi)) provisions such as to render the
rights and remedies of the holder thereof adequate for the
realization against the related property of the benefits of the
security provided thereby;
(xxvi) The rights with respect to each Mortgage Loan are
assignable by the Company without the consent of any Person
other than consents which will have been obtained on or before
Closing Date;
(xxvii) Each Mortgage was recorded, and all subsequent
assignments of the original Mortgage have been recorded or will
be recorded in accordance with this Agreement in the appropriate
jurisdictions wherein such recordation is necessary to perfect
the lien thereof as against creditors of the Company. Each
Mortgage and assignment of Mortgage is in recordable form and
is acceptable for recording under the laws of the jurisdiction
in which the property securing such Mortgage is located;
(xxviii) The terms of each Mortgage Note and Mortgage have not
been impaired, waived, altered or modified in any respect, except
by a written instrument which has been recorded, if necessary to
protect the interests of the Certificateholders and the
Certificate Insurer, and which has been delivered to the Trustee.
The substance of any such waiver, alteration or modification has
been approved by the applicable title insurer, to the extent
required by the applicable title insurance policy, and its terms
are reflected on the applicable Mortgage Loan Schedule. No
Mortgagor has been released, in whole or in part, except in
connection with an assumption agreement which has been approved
by the applicable title insurer (to the extent required by such
title insurer) and which is part of the Mortgage Loan File
delivered to the Trustee. No action on the part of any
Mortgagor which would otherwise cause the related Mortgage Loan
to be in default has been waived;
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(xxix) No Mortgage has been satisfied, canceled,
subordinated or rescinded, in whole or part, and the property
securing the Mortgage has not been released from the lien of
the Mortgage, in whole or part, nor has any instrument been
executed that would effect any such release, cancellation,
subordination or rescission;
(xxx) There is no proceeding pending or, to the best of the
Company's knowledge, threatened for the total or partial
condemnation of any property securing a Mortgage Loan;
(xxxi) All inspections, licenses and certificates with respect
to the use and occupancy of all occupied portions of all property
securing the Mortgages have been made, obtained or issued, as
applicable, as customary in connection with the origination of
first lien residential mortgage loans;
(xxxii) No improvement located on or being a part of any
Mortgaged Property is in material violation of any applicable
zoning laws or regulation;
(xxxiii) With respect to each Mortgage Loan, the payments
required of the related Mortgagor are and will be such that the
Mortgage Loan will fully amortize over its term. No Mortgage
Loan requires a balloon payment at the end of its term;
(xxxiv) No Mortgage Loans are date-of-payment or simple
interest loans;
(xxxv) With respect to each Mortgage which constitutes a deed
of trust, a trustee, authorized and duly qualified under
applicable law to serve as such, has been properly designated,
currently so serves and is named in the Mortgage. No
compensation is due to such trustee unless there is a default
under such Mortgage.
(xxxvi) The sale, transfer, assignment and conveyance of
Mortgage Loans by the Company pursuant to this Agreement is not
subject to and will not result in any tax, fee or governmental
charge payable by the Company or the Trustee to any federal,
state, or local government ("Transfer Taxes") other than
Transfer Taxes which have or will be paid by the Company as due.
In the event that the Trustee receives actual notice of any
Transfer Taxes arising out of the transfer, assignment and
conveyance of the Mortgage Loans, on written demand by the
Trustee, or upon the Company's otherwise being given notice
thereof by the Trustee, the Company shall pay, and otherwise
indemnify and hold the Trustee, and the Certificate Insurer
harmless, on an after-tax basis, from and against any and all
such Transfer Taxes (it being understood that the
Certificateholders, the Trustee, and the Certificate Insurer
shall have no obligation to pay such Transfer Taxes);
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(xxxvii) To the best of the Company's knowledge, the Mortgaged
Property is free from any and all toxic or hazardous substances
and there exists no violation of any local, state or federal
environmental law, rule, or regulation;
(xxxviii) None of the Mortgage Loans are Buydown Loans; and
(xxxix) None of the Mortgage Loans are subject to an FHA
insurance policy or VA guaranty.
It is understood and agreed that the representations and
warranties set forth in this Section 2.03 shall survive delivery of the
respective Mortgage Files to the Trustee or the Custodian, as the case may
be, and shall continue throughout the term of this Agreement. Upon discovery
by any of the Company, the Master Servicer, the Trustee, the Certificate
Insurer or the Custodian of a breach of any of the foregoing representations
and warranties which materially and adversely affects the value of the
related Mortgage Loans or the interests of the Certificateholders or the
Certificate Insurer in the related Mortgage Loans, the Company, the Master
Servicer, the Trustee, the Certificate Insurer or the Custodian, as the case
may be, discovering such breach shall give prompt written notice to the
others. Within 90 days of its discovery or its receipt of notice of breach,
the Company shall repurchase, subject to the limitations set forth in the
definition of "Purchase Price," or substitute for the affected Mortgage Loan
or Mortgage Loans or any property acquired in respect thereof from the
Trustee, unless it has cured such breach in all material respects. After the
end of the three-month period beginning on the "start-up day," any such
substitution shall be made only if the Company provides to the Trustee and
the Certificate Insurer an Opinion of Counsel reasonably satisfactory to the
Trustee that each Substitute Mortgage Loan will be a "qualified replacement
mortgage" within the meaning of Section 860G(a)(4) of the Code. Such
substitution shall be made in the manner and within the time limits set forth
in Section 2.02. Any such repurchase by the Company shall be accomplished in
the manner and at the Purchase Price, if applicable, but shall not be subject
to the time limits, set forth in Section 2.02. It is understood and agreed
that the obligation of the Company to provide such substitution or to make
such repurchase of any affected Mortgage Loan or Mortgage Loans or any
property acquired in respect thereof as to which a breach has occurred and is
continuing shall constitute the sole remedy respecting such breach available
to the Certificateholders or the Trustee on behalf of the Certificateholders.
The Bank hereby represents and warrants to the Trustee
and the Certificate Insurer that:
(i) The Bank is a national banking association and is in good
standing as of the date of this Agreement;
(ii) The Bank has duly authorized this Agreement and this Agreement
is a legal, valid and binding obligation of the Bank enforceable against it,
and the obligations of the Bank under this Agreement do not conflict with the
articles of association and by-laws of the Bank or any material agreements of
the Bank, nor violate any law, order, rule or regulation applicable to the
Bank.
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Section 2.04. AUTHENTICATION OF THE CERTIFICATES. The Trustee
acknowledges the transfer and assignment to it of the property constituting
the Trust Fund, but without having made the review required to be made within
45 days pursuant to Section 2.02, and, as of the Closing Date, shall cause to
be authenticated and delivered to or upon the order of the Company, in
exchange for the property constituting the Trust Fund, the Certificates in
Authorized Denominations evidencing the entire beneficial ownership interest
in the Trust Fund and relating to the Mortgage Loans.
ARTICLE III
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
Section 3.01. THE COMPANY TO ACT AS MASTER SERVICER. The Company shall
act as Master Servicer to service and administer the Mortgage Loans on behalf
of the Trustee and for the benefit of the Certificateholders and the
Certificate Insurer in accordance with the terms hereof and in the same
manner in which, and with the same care, skill, prudence and diligence with
which, it services and administers similar mortgage loans for other
portfolios, and in any event with no less skill, care, prudence and diligence
as a prudent mortgage loan servicer servicing for its own account and shall
have full power and authority to do or cause to be done any and all things in
connection with such servicing and administration which it may deem necessary
or desirable, including, without limitation, the power and authority to bring
actions and defend the Trust Fund on behalf of the Trustee in order to
enforce the terms of the Mortgage Notes. The Master Servicer may perform its
master servicing responsibilities through agents or independent contractors,
but shall not thereby be released from any of its responsibilities hereunder
and the Master Servicer shall diligently pursue all of its rights against
such agents or independent contractors.
The Master Servicer shall make reasonable efforts to collect or
cause to be collected all payments called for under the terms and provisions
of the Mortgage Loans and shall, to the extent such procedures shall be
consistent with this Agreement and the terms and provisions of any Primary
Insurance Policy, any FHA insurance policy or VA guaranty, any hazard
insurance policy, and federal flood insurance, cause to be followed such
collection procedures as are followed with respect to mortgage loans
comparable to the Mortgage Loans and held in portfolios of responsible
mortgage lenders in the local areas where each Mortgaged Property is located.
The Master Servicer shall enforce "due-on-sale" clauses with respect to the
Mortgage Loans, to the extent permitted by law, subject to the provisions set
forth in Section 3.08.
Consistent with the foregoing, the Master Servicer may in its
discretion (i) waive or cause to be waived any assumption fee or late payment
charge in connection with the prepayment of any Mortgage Loan and (ii) only
upon determining that the coverage of any applicable insurance policy or
guaranty related to a Mortgage Loan will not be materially adversely
affected, arrange a schedule, running for no more than 180 days after the
first delinquent Due Date, for payment of any delinquent installment on any
Mortgage Note or for the liquidation of delinquent items; provided, however,
that the Master Servicer may not without the prior written consent of the
Certificate Insurer permit any waiver, modification or variance which
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would (a) change the loan rate, (b) forgive any payment of principal or
interest, (c) lessen the lien priority or (d) extend the final maturity date
of a Mortgage Loan past 12 months prior to the related Last Scheduled
Distribution Date. The Master Servicer shall have the right, but not the
obligation, to repurchase any delinquent Mortgage Loan 90 days after the
first delinquent Due Date for an amount equal to its Purchase Price;
PROVIDED, HOWEVER, that the aggregate Purchase Price of Mortgage Loans so
repurchased shall not exceed one-half of one percent (0.50%) of the aggregate
Principal Balance of all Mortgage Loans as of the Cut-Off Date.
The Master Servicer is hereby authorized and empowered by the
Trustee to execute and deliver or cause to be executed and delivered on
behalf of the Certificateholders and the Trustee or any of them, any and all
instruments of satisfaction or cancellation, or of partial or full release,
discharge or modification, assignments of Mortgages and endorsements of
Mortgage Notes in connection with refinancings (in jurisdictions where such
assignments are the customary and usual standard of practice of mortgage
lenders) and all other comparable instruments, with respect to the Mortgage
Loans and with respect to the Mortgaged Properties. The Trustee shall furnish
the Master Servicer, at the Master Servicer's direction, with any powers of
attorney and other documents necessary or appropriate to enable the Master
Servicer to carry out its supervisory, servicing and administrative duties
under this Agreement.
The Master Servicer and each Servicer shall obtain (to the extent
generally commercially available from time to time) and maintain fidelity
bond and errors and omissions coverage acceptable to FNMA or FHLMC with
respect to their obligations under this Agreement and the applicable
Servicing Contract, respectively. The Master Servicer or each Servicer, as
applicable, shall establish escrow accounts for, or pay when due (by means of
an advance), any tax liens in connection with the Mortgaged Properties that
are not paid by the Mortgagors when due to the extent that any such payment
would not constitute a Nonrecoverable Advance when made. Notwithstanding the
foregoing, the Master Servicer shall not permit any modification with respect
to any Mortgage Loan that would both constitute a sale or exchange of such
Mortgage Loan within the meaning of Section 1001 of the Code (including any
proposed, temporary or final regulations promulgated thereunder) (other than
in connection with a proposed conveyance or assumption of such Mortgage Loan
that is treated as a Principal Prepayment or in a default situation) and
cause the related REMIC to fail to qualify as such under the Code. The Master
Servicer shall be entitled to approve a request from a Mortgagor for a
partial release of the related Mortgaged Property, the granting of an
easement thereon in favor of another Person, any alteration or demolition of
the related Mortgaged Property or other similar matters if it has determined,
exercising its good faith business judgment in the same manner as it would if
it were the owner of the related Mortgage Loan, that the security for, and
the timely and full collectability of, such Mortgage Loan would not be
adversely affected thereby and that the related REMIC would not fail to
continue to qualify as a REMIC under the Code as a result thereof and that no
tax on "prohibited transactions" or "contributions" after the startup day
would be imposed on such REMIC as a result thereof.
Section 3.02. CUSTODIAL ACCOUNTS. The Master Servicer shall cause to be
established and maintained Custodial Accounts for P&I, Buydown Fund Accounts
(if any) and special Custodial Accounts for Reserves and shall deposit or
cause to be deposited therein daily the amounts related to the Mortgage Loans
required by the Servicing Contracts to be so deposited.
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Proceeds received with respect to individual Mortgage Loans from any title,
hazard, or FHA insurance policy, VA guaranty, Primary Insurance Policy, or
other insurance policy (other than the Certificate Insurance Policy) covering
such Mortgage Loans shall be deposited first in the Custodial Account for
Reserves if required for the restoration or repair of the related Mortgaged
Property. Proceeds from such insurance policies not so deposited in the
Custodial Account for Reserves shall be deposited in the Custodial Account
for P&I, and shall be applied to the balances of the related Mortgage Loans
as payments of interest and principal.
The Master Servicer is hereby authorized to make withdrawals from
and to draft the Custodial Accounts for P&I and the Custodial Accounts for
Reserves for the purposes required or permitted by this Agreement. The
Custodial Accounts for P&I and the Custodial Account for Reserves shall each
bear a designation clearly showing the respective interests of the applicable
Servicer, as trustee, and of the Master Servicer, in substantially one of the
following forms:
(a) With respect to the Custodial Account for P&I: (i) [Servicer's
Name], as agent, trustee and/or bailee of principal and interest custodial
account for PNC Mortgage Securities Corp., its successors and assigns, for
various owners of interests in PNC Mortgage Securities Corp. mortgage backed
pools or (ii) [Servicer's Name] in trust for PNC Mortgage Securities Corp.,
its successors and assigns;
(b) With respect to the Custodial Account for Reserves: (i)
[Servicer's Name], as agent, trustee and/or bailee of taxes and insurance
custodial account for PNC Mortgage Securities Corp., its successors and
assigns for various owners of interests in PNC Mortgage Securities Corp.
mortgage backed pools or (ii) [Servicer's Name] in trust for PNC Mortgage
Securities Corp., its successors and assigns.
The Master Servicer hereby undertakes to assure remittance to
Certificateholders of all amounts relating to Mortgage Loans that have been
collected by any Servicer and are due to the Certificateholders pursuant to
Section 4.01 of this Agreement.
Section 3.03. THE INVESTMENT ACCOUNT; ELIGIBLE INVESTMENTS.
(a) Not later than the Withdrawal Date, the Master Servicer shall
withdraw or direct the withdrawal of funds in the Custodial Accounts for P&I,
for deposit in the Certificate Account or Investment Account at the Master
Servicer's option, in an amount representing:
(i) Scheduled installments of principal and interest on
the Mortgage Loans received or advanced by the applicable Servicer
which were due on the Due Date prior to such Withdrawal Date, net
of Servicing Amounts due the applicable Servicer and less any
amounts to be withdrawn later by the applicable Servicer from the
applicable Buydown Fund Accounts;
(ii) Payoffs and the proceeds of other types of
liquidations of Mortgage Loans received by the applicable Servicer
for such Mortgage Loans during the applicable period, with interest
to the date of Payoff or liquidation less
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any amounts to be withdrawn later by the applicable Servicer from
the applicable Buydown Fund Accounts; and
(iii) Curtailments received by the applicable Servicer in
the Prior Period.
In addition, the Master Servicer may, at its option, withdraw or
direct the withdrawal, for deposit in the Investment Account, of any funds in
the Certificate Account to be distributed on the related Distribution Date.
At its option, the Master Servicer may invest funds withdrawn from
the Custodial Accounts for P&I, as well as any Buydown Funds, Insurance
Proceeds and Liquidation Proceeds previously received by the Master Servicer
(including amounts paid by the Company in respect of any Purchase Obligation
or its substitution obligations set forth in Section 2.02 or Section 2.03 or
in connection with the exercise of the option to terminate this Agreement
pursuant to Section 9.01), during any period prior to their deposit in the
Certificate Account. Such funds, as well as any funds which were withdrawn
from the Custodial Accounts for P&I on or before the Withdrawal Date, but not
yet deposited into the Certificate Account, shall immediately be deposited by
the Master Servicer with the Investment Depository in an Investment Account
in the name of the Master Servicer and the Trustee for the benefit of the
Certificateholders and the Certificate Insurer for investment only as set
forth in this Section 3.03. The Master Servicer shall bear any and all losses
incurred on any investments made with such funds and shall deposit the amount
of such losses into the Certificate Account and shall be entitled to retain
all gains realized on such investments as additional servicing compensation.
Not later than the third Business Day prior to the Distribution Date, the
Master Servicer shall deposit such funds, net of any gains (except Payoff
Earnings) earned thereon, in the Certificate Account.
(b) Funds held in the Investment Account shall be invested in (i)
one or more Eligible Investments which shall in no event mature later than
the fourth Business Day prior to the related Distribution Date (except if
such Eligible Investments are obligations of the Trustee, such Eligible
Investments may mature on the third Business Day prior to the Distribution
Date), or (ii) such other instruments as shall be required to maintain the
Ratings (determined in the case of the Class A Certificates without regard to
the effect of the Certificate Insurance Policy) and which are acceptable to
the Certificate Insurer.
Section 3.04. THE CERTIFICATE ACCOUNT.
(a) Not later than the third Business Day prior to the related
Distribution Date, the Master Servicer shall direct the Investment Depository
to deposit the amounts previously deposited into the Investment Account
(which may include a deposit of Eligible Investments) to which the
Certificateholders are entitled into the Certificate Account. In addition,
not later than the third Business Day prior to the Distribution Date, the
Master Servicer shall deposit into the Certificate Account any Monthly P&I
Advances, Compensating Interest, or other payments required to be made by the
Master Servicer pursuant to Section 4.03 of this Agreement and any Insurance
Proceeds or Liquidation Proceeds (including amounts paid by the Company in
respect of any Purchase Obligation or in connection with the exercise of its
option to terminate this
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Agreement pursuant to Section 9.01) not previously deposited in the Custodial
Accounts for P&I or the Investment Account. The Trustee shall deposit into
the Certificate Account amounts received under the Certificate Insurance
Policy in accordance with Section 3.16(d) hereof.
(b) Funds held in the Certificate Account shall be invested at the
direction of the Master Servicer in (i) one or more Eligible Investments
which shall in no event mature later than the Business Day prior to the
related Distribution Date (except if such Eligible Investments are
obligations of the Trustee, such Eligible Investments may mature on the
Distribution Date), or (ii) such other instruments as shall be required to
maintain the Ratings and approved in writing by the Certificate Insurer.
Such investments are at the risk of the Master Servicer and the Master
Servicer shall deposit the amount of any losses on such investments into the
Certificate Account. Investment earnings on such investments shall be paid to
the Master Servicer as additional servicing compensation.
Section 3.05. PERMITTED WITHDRAWALS FROM THE CERTIFICATE ACCOUNT AND
CUSTODIAL ACCOUNTS FOR P&I AND OF BUYDOWN FUNDS FROM THE BUYDOWN FUND
ACCOUNTS.
(a) The Master Servicer is authorized to make withdrawals, from
time to time, from the Certificate Account or the Custodial Account for P&I,
as applicable, of amounts deposited therein in respect of the Certificates,
as follows:
(i) To reimburse itself or the applicable Servicer for
Monthly P&I Advances made pursuant to Section 4.03 or a Servicing
Contract, the Master Servicer's right to reimburse itself or such
Servicer pursuant to this paragraph (i) being limited to amounts
received on particular Mortgage Loans (including, for this purpose,
Insurance Proceeds and Liquidation Proceeds) which represent late
recoveries of principal and/or interest respecting which any such
Monthly P&I Advance was made;
(ii) To reimburse itself or the applicable Servicer for
amounts expended by or for the account of the Master Servicer
pursuant to Section 3.09 or amounts expended by such Servicer
pursuant to the Servicing Contracts in connection with the
restoration of property damaged by an Uninsured Cause or in
connection with the liquidation of a Mortgage Loan;
(iii) To pay to itself the Master Servicing Amount for
each Mortgage Loan (net of Compensating Interest reduced by Payoff
Earnings and Payoff Interest) as to which no prior withdrawals from
funds deposited by the Master Servicer have been made;
(iv) To reimburse itself or the applicable Servicer for
advances which the Master Servicer has determined to be
Nonrecoverable Advances;
(v) To pay to itself reinvestment earnings deposited or
earned in the Certificate Account (net of reinvestment losses) to
which it is entitled;
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(vi) To deposit amounts in the Investment Account
representing amounts in the Certificate Account not required to be
on deposit therein at the time of such withdrawal; and
upon termination of the obligations created by this Agreement and the Trust
Fund created hereby, after payment to the Certificateholders of the amounts
set forth in Section 9.01 of this Agreement and the outstanding Certificate
Insurer Reimbursement Amount, if any,
(vii) To reimburse itself for expenses incurred by and
reimbursable to it pursuant to Section 6.03; and
(viii) To clear and terminate the Certificate Account
pursuant to Section 9.01.
Since, in connection with withdrawals pursuant to paragraphs (i)
and (ii), the Master Servicer's entitlement thereto is limited to collections
or other recoveries on the related Mortgage Loan, the Master Servicer or the
applicable Servicer shall keep and maintain separate accounting for each
Mortgage Loan, for the purpose of justifying any such withdrawals.
(b) The Master Servicer (or the applicable Servicer, if such
Servicer holds and maintains a Buydown Fund Account) is authorized to make
withdrawals, from time to time, from the Buydown Fund Account or Custodial
Account for P&I of the following amounts of Buydown Funds:
(i) to deposit each month in the Investment Account the
amount necessary to supplement payments received on Buydown Loans;
(ii) in the event of a Payoff of any Mortgage Loan having a
related Buydown Fund, to apply amounts remaining in Buydown Fund
Accounts to reduce the required amount of such principal Payoff
(or, if the Mortgagor has made a Payoff, to refund such remaining
Buydown Fund amounts to the Person entitled thereto);
(iii) in the event of foreclosure or liquidation of any
Mortgage Loan having a Buydown Fund, to deposit remaining Buydown
Fund amounts in the Investment Account as Liquidation Proceeds; and
(iv) to clear and terminate the portion of any account
representing Buydown Funds pursuant to Section 9.01.
(c) The Trustee is authorized to make withdrawals from time to
time from the Certificate Account to reimburse itself for advances it has
made pursuant to Section 7.01(a) hereof that it has determined to be
Nonrecoverable Advances.
Section 3.06. MAINTENANCE OF PRIMARY INSURANCE POLICIES; COLLECTIONS
THEREUNDER. The Master Servicer and the applicable Servicer shall use their
best reasonable efforts to keep in full force and effect each Primary
Insurance Policy required with respect to a Mortgage Loan, in
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the manner set forth in the applicable Servicing Contract, until no longer
required. Notwithstanding the foregoing, the Master Servicer shall have no
obligation to maintain such Primary Insurance Policy for a Mortgage Loan for
which the outstanding Principal Balance thereof at any time subsequent to
origination was 80% or less of the value of the related Mortgaged Property
(as determined by the appraisal obtained at the time of origination).
Unless required by applicable law, neither the Master Servicer nor
any Servicer shall cancel or refuse to renew any such Primary Insurance
Policy in effect at the date of the initial issuance of the Certificates that
is required to be kept in force hereunder; provided, however, that neither
the Master Servicer nor any Servicer shall advance funds for the payment of
any premium due under any Primary Insurance Policy if it shall determine that
such an advance would be a Nonrecoverable Advance.
Section 3.07. MAINTENANCE OF HAZARD INSURANCE. The Master Servicer
shall cause to be maintained for each Mortgage Loan fire insurance with
extended coverage in an amount which is not less than the original principal
balance of such Mortgage Loan, except in cases approved by the Master
Servicer in which such amount exceeds the value of the improvements to the
Mortgaged Property. The Master Servicer shall also require fire insurance
with extended coverage in a comparable amount on property acquired upon
foreclosure, or deed in lieu of foreclosure, of any Mortgage Loan. Any
amounts collected under any such policies (other than amounts to be applied
to the restoration or repair of the related Mortgaged Property) shall be
deposited into the Custodial Account for P&I, subject to withdrawal pursuant
to the applicable Servicing Contract and pursuant to Section 3.03 and Section
3.05. Any unreimbursed costs incurred in maintaining any insurance described
in this Section 3.07 shall be recoverable as an advance by the Master
Servicer from the Certificate Account. Such insurance shall be with insurers
approved by the Master Servicer and FNMA or FHLMC. Other additional insurance
may be required of a Mortgagor, in addition to that required pursuant to such
applicable laws and regulations as shall at any time be in force and as shall
require such additional insurance. Where any part of any improvement to the
Mortgaged Property is located in a federally designated special flood hazard
area and in a community which participates in the National Flood Insurance
Program at the time of origination of the related Mortgage Loan, the Master
Servicer shall cause flood insurance to be provided. The hazard insurance
coverage required by this Section 3.07 may be met with blanket policies
providing protection equivalent to individual policies otherwise required.
The Master Servicer or the applicable Servicer shall be responsible for
paying any deductible amount on any such blanket policy. The Master Servicer
agrees to present, or cause to be presented, on behalf of and for the benefit
of the Trustee, the Certificateholders and the Certificate Insurer, claims
under the hazard insurance policy respecting any Mortgage Loan, and in this
regard to take such reasonable actions as shall be necessary to permit
recovery under such policy.
Section 3.08. ENFORCEMENT OF DUE-ON-SALE CLAUSES; ASSUMPTION
AGREEMENTS. When any Mortgaged Property is about to be conveyed by the
Mortgagor, the Master Servicer shall, to the extent it has knowledge of such
prospective conveyance and prior to the time of the consummation of such
conveyance, exercise on behalf of the Trustee the Trustee's rights to
accelerate the maturity of such Mortgage Loan, to the extent that such
acceleration is permitted by the terms of the related Mortgage Note, under
any "due-on-sale" clause applicable thereto; provided, however, that the
Master Servicer shall not exercise any such right if the due-on-sale
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clause, in the reasonable belief of the Master Servicer, is not enforceable
under applicable law or if such exercise would result in non-coverage of any
resulting loss that would otherwise be covered under any insurance policy. In
the event the Master Servicer is prohibited from exercising such right, the
Master Servicer is authorized to take or enter into an assumption and
modification agreement from or with the Person to whom a Mortgaged Property
has been or is about to be conveyed, pursuant to which such Person becomes
liable under the Mortgage Note and, unless prohibited by applicable state law
or unless the Mortgage Note contains a provision allowing a qualified
borrower to assume the Mortgage Note, the Mortgagor remains liable thereon;
provided that the Mortgage Loan shall continue to be covered (if so covered
before the Master Servicer enters such agreement) by any related Primary
Insurance Policy. The Master Servicer is also authorized to enter into a
substitution of liability agreement with such Person, pursuant to which the
original Mortgagor is released from liability and such Person is substituted
as Mortgagor and becomes liable under the Mortgage Note. The Master Servicer
shall notify the Trustee that any such substitution or assumption agreement
has been completed by forwarding to the Trustee the original copy of such
substitution or assumption agreement and other documents and instruments
constituting a part thereof. In connection with any such assumption or
substitution agreement, the terms of the related Mortgage Note shall not be
changed. Any fee collected by the applicable Servicer for entering into an
assumption or substitution of liability agreement shall be retained by such
Servicer as additional servicing compensation.
Notwithstanding the foregoing paragraph or any other provision of
this Agreement, the Master Servicer shall not be deemed to be in default,
breach or any other violation of its obligations hereunder by reason of any
assumption of a Mortgage Loan by operation of law or any assumption which the
Master Servicer may be restricted by law from preventing, for any reason
whatsoever.
Section 3.09. REALIZATION UPON DEFAULTED MORTGAGE LOANS. The Master
Servicer shall foreclose upon or otherwise comparably convert, or cause to be
foreclosed upon or comparably converted, the ownership of any Mortgaged
Property securing a Mortgage Loan which comes into and continues in default
and as to which no satisfactory arrangements can be made for collection of
delinquent payments pursuant to Section 3.01. In lieu of such foreclosure or
other conversion, and taking into consideration the desirability of
maximizing net Liquidation Proceeds after taking into account the effect of
Insurance Proceeds upon Liquidation Proceeds, the Master Servicer may, to the
extent consistent with prudent mortgage loan servicing practices, accept a
payment of less than the outstanding Principal Balance of a delinquent
Mortgage Loan in full satisfaction of the indebtedness evidenced by the
related Mortgage Note and release the lien of the related Mortgage upon
receipt of such payment. The Master Servicer shall not foreclose upon or
otherwise comparably convert a Mortgaged Property if there is evidence of
toxic waste, other hazardous substances or other evidence of environmental
contamination thereon and the Master Servicer determines that it would be
imprudent to do so. In connection with such foreclosure or other conversion,
the Master Servicer shall cause to be followed such practices and procedures
as it shall deem necessary or advisable and as shall be normal and usual in
general mortgage servicing activities. The foregoing is subject to the
provision that, in the case of damage to a Mortgaged Property from an
Uninsured Cause, the Master Servicer shall not be required to advance its own
funds towards the restoration of the property unless it shall be determined
in the sole judgment of the Master Servicer, (i) that such restoration will
increase the proceeds of
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liquidation of the Mortgage Loan to Certificateholders after reimbursement to
itself for such expenses, and (ii) that such expenses will be recoverable to
it through Liquidation Proceeds. The Master Servicer shall be responsible for
all other costs and expenses incurred by it in any such proceedings;
provided, however, that it shall be entitled to reimbursement thereof (as
well as its normal servicing compensation) as an advance. The Master Servicer
shall maintain information required for tax reporting purposes regarding any
Mortgaged Property which is abandoned or which has been foreclosed or
otherwise comparably converted. The Master Servicer shall report such
information to the Internal Revenue Service and the Mortgagor in the manner
required by applicable law.
The Trust Fund shall not acquire any real property (or personal
property incident to such real property) except in connection with a default
or imminent default of a Mortgage Loan. In the event that the Trust Fund
acquires any real property (or personal property incident to such real
property) in connection with a default or imminent default of a Mortgage
Loan, such property shall be disposed of by the Master Servicer within two
years after its acquisition by the Master Servicer for the Trust Fund, unless
the Master Servicer provides to the Trustee and the Certificate Insurer an
Opinion of Counsel to the effect that the holding by the Trust Fund of such
Mortgaged Property subsequent to two years after its acquisition will not
result in the imposition of taxes on "prohibited transactions" of the related
REMIC as defined in Section 860F of the Code or cause the applicable REMIC to
fail to qualify as a REMIC at any time that any Certificates are outstanding.
The Master Servicer shall manage, conserve, protect and operate each such
property for the Certificateholders and the Certificate Insurer solely for
the purpose of its prompt disposition and sale in a manner which does not
cause such property to fail to qualify as "foreclosure property" within the
meaning of Section 860G(a)(8) or result in the receipt by either REMIC of any
"income from non-permitted assets" within the meaning of Section
860F(a)(2)(B) of the Code or any "net income from foreclosure property" which
is subject to taxation under the REMIC Provisions. Pursuant to its efforts to
sell such property, the Master Servicer shall either itself or through an
agent selected by the Master Servicer protect and conserve such property in
the same manner and to such extent as is customary in the locality where such
property is located and may, incident to its conservation and protection of
the interests of the Certificateholders and the Certificate Insurer, rent the
same, or any part thereof, as the Master Servicer deems to be in the best
interest of the Master Servicer, the Certificateholders, and the Certificate
Insurer for the period prior to the sale of such property. Additionally, the
Master Servicer shall perform the tax withholding and shall file information
returns with respect to the receipt of mortgage interests received in a trade
or business, the reports of foreclosures and abandonments of any Mortgaged
Property and the information returns relating to cancellation of indebtedness
income with respect to any Mortgaged Property required by Sections 6050H,
6050J and 6050P, respectively, of the Code, and deliver to the Trustee an
Officers' Certificate on or before March 31 of each year stating that such
reports have been filed. Such reports shall be in form and substance
sufficient to meet the reporting requirements imposed by Sections 6050H,
6050J and 6050P of the Code.
Notwithstanding any other provision of this Agreement, the Master
Servicer shall comply with all federal withholding requirements with respect
to payments to Certificateholders of interest or original issue discount that
the Master Servicer reasonably believes are applicable
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under the Code. The consent of Certificateholders shall not be required for
any such withholding. Without limiting the foregoing, the Master Servicer
agrees that it will not withhold with respect to payments of interest or
original issue discount in the case of a Certificateholder that has furnished
or caused to be furnished an effective Form W-8 or an acceptable substitute
form or a successor form and who is not a "10 percent shareholder" within the
meaning of Code Section 871(h)(3)(B) or a "controlled foreign corporation"
described in Code Section 881(c)(3)(C) with respect to the REMIC, the Trust
Fund or the depositor. In the event the Trustee withholds any amount from
interest or original issue discount payments or advances thereof to any
Certificateholder pursuant to federal withholding requirements, the Trustee
shall indicate the amount withheld to such Certificateholder.
Section 3.10. TRUSTEE TO COOPERATE; RELEASE OF MORTGAGE FILES. Upon the
Payoff or scheduled maturity of any Mortgage Loan, the Master Servicer shall
cause such final payment to be immediately deposited in the related Custodial
Account for P&I or the Investment Account. Upon notice thereof, the Master
Servicer shall promptly notify the Trustee by a certification (which
certification shall include a statement to the effect that all amounts
received in connection with such payment which are required to be deposited
in either such account have been so deposited) of a Servicing Officer and
shall request delivery to it of the Mortgage File. Upon receipt of such
certification and request, the Trustee shall, not later than the fifth
succeeding Business Day, release the related Mortgage File to the Master
Servicer or the applicable Servicer indicated in such request. With any such
Payoff or other final payment, the Master Servicer is authorized to prepare
for and procure from the trustee or mortgagee under the Mortgage which
secured the Mortgage Note a deed of full reconveyance or other form of
satisfaction or assignment of Mortgage and endorsement of Mortgage Note in
connection with a refinancing covering the Mortgaged Property, which
satisfaction, endorsed Mortgage Note or assigning document shall be delivered
by the Master Servicer to the person or persons entitled thereto. No expenses
incurred in connection with such satisfaction or assignment shall be payable
to the Master Servicer by the Trustee or from the Certificate Account, the
Investment Account or the related Custodial Account for P&I. From time to
time as appropriate for the servicing or foreclosure of any Mortgage Loan,
including, for this purpose, collection under any Primary Insurance Policy,
the Trustee shall, upon request of the Master Servicer and delivery to it of
a trust receipt signed by a Servicing Officer, release not later than the
fifth Business Day following the date of receipt of such request the related
Mortgage File to the Master Servicer or the related Servicer as indicated by
the Master Servicer and shall execute such documents as shall be necessary to
the prosecution of any such proceedings. Such trust receipt shall obligate
the Master Servicer to return the Mortgage File to the Trustee when the need
therefor by the Master Servicer no longer exists, unless the Mortgage Loan
shall be liquidated, in which case, upon receipt of a certificate of a
Servicing Officer similar to that herein above specified, the trust receipt
shall be released by the Trustee to the Master Servicer.
Section 3.11. COMPENSATION TO THE MASTER SERVICER, THE SERVICERS AND
THE BANK. As compensation for its activities hereunder, the Master Servicer
shall be entitled to withdraw from the Certificate Account the amounts
provided for by Section 3.05(a)(iii). The Master Servicer shall be required
to pay all expenses incurred by it in connection with its activities
hereunder, including the Trustee's fees and shall not be entitled to
reimbursement therefor, except as specifically provided herein.
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As compensation for its activities under the applicable
Servicing Contract, the applicable Servicer shall be entitled to withhold or
withdraw from the Custodial Account for P&I the amounts provided for in such
Servicing Contract. Each Servicer is required to pay all expenses incurred by
it in connection with its servicing activities under its Servicing Contract
(including payment of premiums for Primary Insurance Policies, if required) and
shall not be entitled to reimbursement therefor except as specifically provided
in such Servicing Contract and not inconsistent with this Agreement.
For each Loan Group, with respect to each Distribution Date following
the applicable Put Date, as compensation for offering the Put Option, the Bank
shall be entitled to the Supplemental Amount for the Mortgage Loans related to
such Loan Group, which shall be paid to the Bank by the Trustee from the
Certificate Account. In the event that the Trustee submits to the Certificate
Insurer Notice of a Deficiency Amount of the type specified in clause (ii)(c)
of the definition of "Deficiency Amount", the Certificate Insurer shall be
entitled to the Supplemental Amount for the Mortgage Loans related to such Loan
Group, which shall be paid to the Certificate Insurer by the Trustee from the
Certificate Account.
Section 3.12. REPORTS TO THE TRUSTEE AND THE CERTIFICATE INSURER;
CERTIFICATE ACCOUNT STATEMENT. Not later than 15 days
after each Distribution Date, the Master Servicer shall forward to the Trustee
and the Certificate Insurer a statement, certified by a Servicing Officer,
setting forth the status of the Certificate Account as of the close of business
on such Distribution Date and showing, for the period covered by such
statement, the aggregate of deposits into and withdrawals from the Certificate
Account for each category of deposit specified in Section 3.04 and each
category of withdrawal specified in Section 3.05, and stating that all
distributions required by this Agreement have been made (or if any required
distribution has not been made, specifying the nature and amount thereof). Such
statement shall be provided to any Certificateholder upon request or by the
Trustee to any Certificateholder at the expense of the Master Servicer and
shall also, to the extent available, include information regarding
delinquencies on the Mortgage Loans, indicating the number and aggregate
Principal Balance of Mortgage Loans which are one, two, three or more months
delinquent, the number and aggregate Principal Balance of Mortgage Loans with
respect to which foreclosure proceedings have been initiated and the book value
of any Mortgaged Property acquired by the Trust Fund through foreclosure, deed
in lieu of foreclosure or other exercise of the Trust Fund's security interest
in the Mortgaged Property.
In addition, not later than 15 days after each Distribution Date, the
Master Servicer shall forward to the Trustee and the Certificate Insurer a
liquidation report in the form of Exhibit C hereto containing information about
each Mortgage Loan which became a Liquidated Mortgage Loan during the period
covered by such report.
Section 3.13. ANNUAL STATEMENT AS TO COMPLIANCE. The Master Servicer
shall deliver to the Trustee and the Certificate Insurer, on or before April 30
of each year, beginning with the first April 30 succeeding the Cut-Off Date by
at least six months, an Officer's Certificate stating as to the signer thereof,
that (i) a review of the activities of the Master Servicer during the preceding
calendar year and performance under this Agreement has been made under such
officer's supervision, and (ii) to the best of such officer's knowledge, based
on such review, the Master
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Servicer has fulfilled all its obligations under this Agreement throughout such
year, or, if there has been a default in the fulfillment of any such
obligation, specifying each such default known to such officer and the nature
and status thereof. Copies of such statement shall be provided by the Master
Servicer to Certificateholders upon request or by the Trustee (solely to the
extent that such copies are available to the Trustee) at the expense of the
Master Servicer, should the Master Servicer fail to so provide such copies.
Section 3.14. ACCESS TO CERTAIN DOCUMENTATION AND INFORMATION REGARDING
THE MORTGAGE LOANS. In the event that the Certificates are legal for investment
by federally-insured savings associations, the Master Servicer shall provide to
the OTS, the FDIC and the supervisory agents and examiners of the OTS and the
FDIC access to the documentation regarding the Mortgage Loans required by
applicable regulations of the OTS or the FDIC, as applicable, and shall in any
event provide such access to the documentation regarding the Mortgage Loans to
the Trustee and the Certificate Insurer and their respective representatives,
such access being afforded without charge, but only upon reasonable request and
during normal business hours at the offices of the Master Servicer designated
by it.
Section 3.15. ANNUAL INDEPENDENT PUBLIC ACCOUNTANTS' SERVICING REPORT. On
or before April 30 of each year, beginning with the first April 30 succeeding
the Cut-Off Date by at least six months, the Master Servicer, at its expense,
shall cause a firm of independent public accountants to furnish a statement to
the Trustee and the Certificate Insurer to the effect that, in connection with
the firm's examination of the Master Servicer's financial statements as of the
previous December 31, nothing came to their attention that indicated that the
Master Servicer was not in compliance with Section 3.02, Section 3.03, Section
3.04, Section 3.05, Section 3.11, Section 3.12 and Section 3.13 of this
Agreement, except for (i) such exceptions as such firm believes to be
immaterial, and (ii) such other exceptions as are set forth in such statement.
Section 3.16. MAINTENANCE OF THE CERTIFICATE INSURANCE POLICY;
COLLECTIONS THEREUNDER.
(a) Prior to 5:00 P.M. New York City time on the third Business Day
prior to each Distribution Date or applicable Put Date, as applicable, the
Master Servicer shall determine if a Deficiency Amount for such Distribution
Date or Put Date, as applicable, exists and, if so, shall immediately notify
the Trustee who shall complete the Notice and submit such Notice in accordance
with the Certificate Insurance Policy to the Certificate Insurer no later than
12:00 P.M., New York City time, on the second Business Day immediately
preceding each Distribution Date or Put Date, as applicable, as a claim for an
Insured Payment in an amount equal to such Deficiency Amount. If at any time
the Trustee determines that a Preference Amount is payable under the terms of
the Certificate Insurance Policy, the Trustee shall take the actions required
by the terms of the Certificate Insurance Policy to obtain payment of such
Preference Amount by the Certificate Insurer.
In the event that the Trustee submits Notice of the
existence of a Deficiency Amount of the type specified in clause (ii)(c) of the
definition of "Deficiency Amount", (i) the Certificate Insurer shall have the
right to exercise the Certificate Insurer Clean-Up Option, (ii) in the event
that the Certificate Insurer does not exercise the Certificate Insurer Clean-Up
Option,
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the Supplemental Amount for each Mortgage Loan in the related Loan Group for
each Distribution Date following the applicable Put Date shall be paid to the
Certificate Insurer as set forth in Section 4.01, or (iii) if the Bank has
previously exercised the Clean-Up Option and fails to deposit money with the
Trustee prior to the applicable Put Date, the Certificate Insurer shall deposit
the Clean-Up Purchase Price according to the terms of the Certificate Insurance
Policy after the Trustee submits a Notice pursuant to Section 3.16 and shall,
after such deposit, be entitled to such Class A Certificates and also have the
right to purchase the related Residual Certificates for $1.
(b) Upon receipt of an Insured Payment from the Certificate Insurer
on behalf of the Insured Certificateholders, the Trustee shall deposit such
Insured Payment in the Certificate Account. All such amounts on deposit in the
Certificate Account shall remain uninvested. The Trustee shall include on each
Distribution Date, or Put Date, as applicable, the Deficiency Amount for such
Distribution Date in the amount distributed to the Insured Certificates
pursuant to Section 4.01. If on any Distribution Date, the Trustee or the
Master Servicer determines that the Certificate Insurer has paid more under the
Certificate Insurance Policy than is required by the terms thereof, the Trustee
shall promptly return the excess amount to the Certificate Insurer.
(c) The Trustee shall (i) receive as attorney-in-fact of each
Insured Certificateholder any Insured Payment from the Certificate Insurer and
(ii) distribute such Insured Payment to such Insured Certificateholders as set
forth in subsection (b) above. Insured Payments disbursed by the Trustee from
proceeds of the Certificate Insurance Policy shall not be considered payment by
the Trust Fund with respect to the Insured Certificates, nor shall such
disbursement of such Insured Payments discharge the obligations of the Trust
Fund with respect to the amounts thereof, and the Certificate Insurer shall
become owner of such amounts to the extent covered by such Insured Payments as
the deemed assignee of such Insured Certificateholders. The Trustee hereby
agrees on behalf of each Insured Certificateholder (and each Insured
Certificateholder, by its acceptance of its Insured Certificates, hereby
agrees) for the benefit of the Certificate Insurer that the Trustee shall
recognize that to the extent the Certificate Insurer makes Insured Payments,
either directly or indirectly (as by paying through the Trustee), to the
Insured Certificateholders, the Certificate Insurer will be entitled to be
subrogated to the rights of the Insured Certificateholders to the extent of
such payments and will be entitled to receive the Certificate Insurer
Reimbursement Amount as set forth in Section 4.01 and the definition of
Certificate Distribution Amount.
In addition, in the event that the Certificate Insurer or the Company
determines that the Trustee has failed (i) to make a claim available under the
Certificate Insurance Policy or failed to distribute or cause to be distributed
to Certificateholders any amount required to be distributed hereunder
(including any Insured Payment), if such amount is held by the Trustee or its
Paying Agent (other than the Master Servicer or the Company) for distribution
(ii) to otherwise observe or perform in any material respect of its covenants,
agreements or obligations hereunder, and such failure shall continue unremedied
for a period of 5 days (in respect of clause (i) above) or 30 days (in respect
of clause (ii) above) after the date on which written notice of such failure,
requiring that the same be remedied, shall have been given to the Trustee by
the Company or the Certificate Insurer, which consent shall not be unreasonably
withheld, may remove the Trustee and appoint a successor trustee satisfying the
requirements of Section 8.06 by written instrument
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delivered as provided in the preceding sentence. In connection with the
appointment of a successor trustee pursuant to the preceding sentence, the
Company or the Certificate Insurer, as applicable, shall, on or before the date
on which any such appointment becomes effective, obtain from the Rating Agency
written confirmation that the appointment of any such successor trustee will
not result in the reduction of the Ratings below the then current Ratings (in
the case of the Insured Certificates, without regard to the existence of the
Certificate Insurance Policy).
Section 3.17. MAINTENANCE OF THE RESERVE FUNDS AND THE YIELD SUPPLEMENT
ACCOUNT; COLLECTIONS THEREUNDER. On or prior to the Closing Date, the Bank
shall cause to be established and maintained the Class I-A Reserve Fund in the
Class I-A Reserve Fund Initial Amount and the Class II-A Reserve Fund in the
Class II-A Reserve Fund Initial Amount to provide coverage to the related Class
of Class A Certificates and the related Class R Certificates for any applicable
Reserve Fund Covered Amounts. With respect to each Distribution Date, for each
Loan Group, the Master Servicer shall determine the amount of any Reserve Fund
Covered Amounts for such Loan Group and shall notify the Trustee by 5:00 p.m.
New York City time on the third Business Day prior to the Distribution Date of
such amount. In accordance with Section 4.03(b), the Trustee shall then
withdraw from the applicable Reserve Fund, to the extent funds are available
therein, any amounts needed to cover such Reserve Fund Covered Amount allocable
to such Classes of Certificates, and deposit such amount into the Certificate
Account. Withdrawals from the Reserve Funds made pursuant to this Section 3.17
for such Distribution Date shall be distributed pursuant to Section 4.01 to the
Insured Certificates (i) for any amounts withdrawn on account of the Interest
Distribution Amount, as interest to the related Class A Certificates as part of
the applicable Interest Distribution Amount, (ii) for any amount drawn on
account of principal, as principal to the related Class A Certificates, and
(iii) for any amount drawn on account of the Excess Interest Amount, to the
Class R Certificates. Upon depletion of the applicable Reserve Fund, an amount
equal to any Reserve Fund Covered Amounts in excess of the then existing
balance of the applicable Reserve Fund ("Uncovered Shortfall"), will be paid
from proceeds of the Certificate Insurance Policy to the Related Insured
Certificates on the related Distribution Date in accordance with Section 3.16.
With respect to each Loan Group, on each Distribution Date, the
Trustee shall withdraw from the applicable Reserve Fund the Reserve Fund
Release Amount, to the extent of funds available therein, and release such
amount to the Bank. Any amounts of Uncovered Shortfall allocable to the Insured
Certificates shall first be covered by the Certificate Insurance Policy and to
the extent not paid by the Certificate Insurer due to a default of the
Certificate Insurer under the Certificate Insurance Policy will be allocated as
a loss to the Insured Certificateholders.
Any amounts withdrawn by the Trustee from the Reserve Funds shall be
deposited in the Certificate Account for distribution to the applicable Class A
and Class R Certificateholders as described in the second preceding paragraph.
Upon termination of the Trust Fund, the Master Servicer shall promptly
remit to the Bank any amounts at the time remaining in the Reserve Funds.
The Reserve Funds established hereunder, to the extent that either
constitutes a "reserve fund" for purposes of the REMIC Provisions, shall be an
"outside reserve fund" as
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defined in Treasury Regulation 1.80G-2(h), and in that regard (i) such Reserve
Fund shall be an outside reserve fund and not an asset of REMIC I or REMIC II,
(ii) such fund shall be owned for federal tax purposes by the Bank and the Bank
shall report all amounts of income, deduction, gain or loss accruing therefrom,
and (iii) amounts transferred by REMIC I or REMIC II to the Reserve Fund shall
be treated as distributed by such REMIC to the Bank.
With respect to each Distribution Date, for each Loan Group the Master
Servicer shall determine whether an Interest Shortfall exists and, if so,
notify the Trustee by 5:00 pm New York City time on the third Business Day
prior to the Distribution Date of such Interest Shortfall. The Trustee shall
then withdraw the Yield Supplement Amount for such Loan Group from the Yield
Supplement Account and deposit such amount into the Certificate Account.
The Yield Supplement Account established hereunder, to the extent that
it constitutes a "reserve fund" for purposes of the REMIC Provisions, shall be
an "outside reserve fund" as defined in Treasury Regulation 1.80G-2(h), and in
that regard (i) such yield supplement account shall be an outside reserve fund
and not an asset of REMIC I or REMIC II, (ii) such fund shall be owned solely
for federal tax purposes by the Bank and the Bank shall report all amounts of
income, deduction, gain or loss accruing therefrom, and (iii) amounts
transferred by REMIC I or REMIC II to the Yield Supplement account shall be
treated as distributed by such REMIC to the Bank.
Section 3.18. PUT OPTION AND CLEAN-UP OPTION: With respect to each Loan
Group, during the 30 day period ending on the second Distribution Date
preceding the applicable Put Date, each Certificateholder, or in the event that
such Class A Certificates are still held in book-entry form, each Beneficial
Holder, of the Class A Certificates related to such Loan Group may exercise the
Put Option by written notice to the Master Servicer or, to the extent that the
Certificates are still held in book-entry form, DTC. Notice by a
Certificateholder or Beneficial Certificateholder, as applicable, of the
exercise of a Put Option will be irrevocable. At the end of the 30 day period,
based on information obtained by the Master Servicer from DTC with respect to
Book-Entry Certificates, if applicable, the Master Servicer shall notify the
Bank, the Certificate Insurer, and the Trustee in writing of the number of
Certificateholders, or Beneficial Holders, as applicable, who have exercised
the Put Option and the percentage of the Class Principal Balance of such Class
held by such Certificateholders or Beneficial Holders, as applicable. In the
event that the Put Option has been exercised with respect to more than 90% of
the outstanding Class Principal Balance of the applicable Class, the Master
Servicer shall so notify the Bank and the Certificate Insurer, in writing, and
the Bank will be entitled to exercise the Clean-Up Option. Not later than the
fourth Business Day prior to the applicable Put Date, the Bank shall deposit,
into the Certificate Account, (i) if the Bank has exercised the Clean-Up
Option, the Clean-Up Purchase Price, or (ii) otherwise, the Put Purchase Price
for each Class A Certificate for which the Certificateholder has exercised the
Put Option. The Trustee shall notify the Certificate Insurer within one
Business Day of the Bank's failure to make such deposit and such notice shall
indicate that the Certificate Insurer has the right to exercise the Certificate
Insurer Clean-Up Option if the Bank fails to honor the Put Option or the
Clean-Up Option.
On each Put Date, with respect to each Certificate for which the Put
Option was exercised, or as to all Certificates of such applicable Class if the
Bank has exercised the Clean-Up
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Option or the Certificate Insurer has exercised the Certificate Insurer
Clean-Up Option, the Trustee shall withdraw from the Certificate Account the
applicable Put Purchase Price and distribute it to the related
Certificateholder by wire transfer in immediately available funds for the
account of such Certificateholder, or by any other means of payment as
specified by such Certificateholder and at the address of such Holder appearing
in the Certificate Register, provided that such payment shall only be made
after presentation and surrender of the Certificate if the Certificates are no
longer held in book-entry form.
With respect to each Loan Group, in the event that the Class A
Certificates are no longer held in book-entry form, and any Certificateholders
of the related Class A Certificates, in the case of the exercise of the
Clean-Up Option or the Certificate Insurer Clean-Up Option, or all
Certificateholders who exercised the Put Option, in the case of the Put Option,
shall not surrender their Certificates for cancellation within six months after
the applicable Put Date, the Master Servicer shall give second written notice
to the remaining Certificateholders to surrender their Certificates for
cancellation and receive the Put Purchase Price with respect thereto. If
within one year after the second notice all the related Certificates shall not
have been surrendered for cancellation, the Master Servicer may take
appropriate steps to contact the remaining Certificateholders concerning
surrender of their Certificates, and the cost thereof shall be paid out of the
applicable Put Purchase Price, in the case of the Put Option or out of funds
and other assets which remain in the Trust Fund in the case of the Clean-Up
Option or the Certificate Insurer Clean-Up Option.
The Bank's obligation to make payments hereunder is irrevocable,
unconditional, and not subject to any defense, rights of setoff, counterclaim
or rescission.
Section 3.19. [RESERVED.]
Section 3.20. [RESERVED.]
Section 3.21. ASSUMPTION OR TERMINATION OF SERVICING CONTRACTS BY
TRUSTEE. In the event the Company or any successor Master Servicer shall for
any reason no longer be the Master Servicer (including by reason of an Event of
Default), the Trustee as trustee hereunder or its designee shall thereupon
assume all of the rights and obligations of the Master Servicer under the
Servicing Contracts with respect to the Mortgage Loans in the Mortgage Pool
unless the Trustee elects to terminate the Servicing Contracts with respect to
the Mortgage Loans in the Mortgage Pool in accordance with the terms thereof.
The Trustee, its designee or the successor servicer for the Trustee shall be
deemed to have assumed all of the Master Servicer's interest therein with
respect to the Mortgage Loans and to have replaced the Master Servicer as a
party to the Servicing Contracts to the same extent as if the rights and duties
under the Servicing Contracts relating to the Mortgage Loans had been assigned
to the assuming party, except that the Master Servicer shall not thereby be
relieved of any liability or obligations under the Servicing Contracts with
respect to the Master Servicer's duties to be performed prior to its
termination hereunder.
The Master Servicer at its expense shall, upon request of the Trustee,
deliver to the assuming party all documents and records relating to the
Servicing Contracts and the Mortgage Loans then being serviced and an
accounting of amounts collected and held by it and
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otherwise use its best efforts to effect the orderly and efficient transfer of
the rights and duties under the Servicing Contracts relating to the Mortgage
Loans to the assuming party.
ARTICLE IV
PAYMENTS TO CERTIFICATEHOLDERS; PAYMENT OF EXPENSES
Section 4.01. DISTRIBUTIONS TO CERTIFICATEHOLDERS.
(a) On each Distribution Date, for each Loan Group the Trustee (or
any duly appointed paying agent) shall (i) withdraw from the Certificate
Account the related Available Distribution Amount for such Distribution Date
and shall distribute, from the amount so withdrawn, to the extent of such
Available Distribution Amount, (1) the Certificate Distribution Amount to the
related Holders of the Class A and Class R Certificates, and (2) payments to
the Certificate Insurer (as described in Section 3.16) in respect of the
Certificate Insurer's subrogation of certain rights to payment due to the
Insured Certificateholders (ii) if an Interest Shortfall exists, withdraw the
Yield Supplement Amount for such Loan Group from the Certificate Account and
distribute such amount to the Class A Certificates related to such Loan Group;
and (iii) distribute Excess Liquidation Proceeds, first, to the Certificate
Insurer to the extent of the Certificate Insurer Reimbursement Amount and,
second, to the Class R Certificateholders, in accordance with written
statements received from the Master Servicer pursuant to Section 4.03(b), (iv)
withdraw from the applicable Reserve Fund the applicable Reserve Fund Covered
Amount in accordance with Section 3.17, and distribute such amounts to the
Certificates in accordance with Section 3.17, (v) withdraw the Deficiency
Amount, if any, from the Certificate Account and distribute such amount to the
Insured Certificates in accordance with Section 3.16, (vi) if Late Remittances
were deposited by the Master Servicer or the Servicer utilize such amount,
first, to offset any Deficiency Amount for such Distribution Date and second,
deposit such amount into the applicable Reserve Fund, (vii) distribute to the
Certificate Insurer (x) the Premium Amount; and (y) if applicable, the
Supplemental Amount for the Mortgage Loans in such Loan Group, (viii) if
applicable, distribute to the Bank the Supplemental Amount for the Mortgage
Loans in such Loan Group and (ix) if the Company has purchased all the Mortgage
Loans in a Loan Group pursuant to Section 9.01, distribute the proceeds to the
Certificateholders, all (except with respect to payments to the Certificate
Insurer) in accordance with written statements received from the Master
Servicer pursuant to Section 4.03(b) by wire transfer in immediately available
funds for the account of each Certificateholder, or by any other means of
payment acceptable to each Certificateholder of record on the immediately
preceding Record Date (other than as provided in Section 9.01 respecting the
final distribution), as specified by each such Certificateholder and at the
address of such Holder appearing in the Certificate Register and, with respect
to payments to the Certificate Insurer, by means of payment acceptable to the
Certificate Insurer.
(b) All reductions in the Certificate Principal Balance of a
Certificate effected by distributions of principal or allocations of Realized
Losses with respect to Mortgage Loans made on any Distribution Date shall be
binding upon all Holders of such Certificate and of any Certificate issued upon
the registration of transfer or exchange therefor or in lieu thereof, whether
or not such distribution is noted on such Certificate. The final distribution
of principal of each
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Certificate (and the final distribution with respect to the Class R
Certificates upon termination of the Trust Fund) shall be payable in the manner
provided above only upon presentation and surrender thereof on or after the
Distribution Date therefor at the office or agency of the Certificate Registrar
specified in the notice delivered pursuant to Section 4.01(c)(ii) or Section
9.01(b).
(c) Whenever, on the basis of Curtailments, Payoffs and Monthly
Payments on the Mortgage Loans and Insurance Proceeds, proceeds of the
Certificate Insurance Policy and Liquidation Proceeds received and expected to
be received during the Prior Period, the Master Servicer has notified the
Trustee that it believes that the entire remaining unpaid Class Principal
Balance of any Class of Certificates will become distributable on the next
Distribution Date, the Trustee shall, no later than the 18th day of the month
of such Distribution Date, mail or cause to be mailed to each Person in whose
name a Certificate to be so retired is registered at the close of business on
the Record Date and to the Rating Agency and to the Certificate Insurer a
notice to the effect that:
(i) it is expected that funds sufficient to make such final
distribution will be available in the Certificate Account on such
Distribution Date, and
(ii) if such funds are available, (A) such final distribution
will be payable on such Distribution Date, but only upon
presentation and surrender of such Certificate at the office or
agency of the Certificate Registrar maintained for such purpose
(the address of which shall be set forth in such notice), and
(B) no interest shall accrue on such Certificate after such
Distribution Date.
Section 4.02. STATEMENTS TO CERTIFICATEHOLDERS. With each distribution
from the Certificate Account on a Distribution Date, the Master Servicer shall
prepare and forward to the Trustee (and to the Company if the Company is no
longer acting as Master Servicer), and the Trustee shall forward to each
Certificateholder and the Certificate Insurer, a statement with respect to each
Loan Group setting forth, to the extent applicable: the amount of the
distribution payable to the applicable Class that represents principal and the
amount that represents interest, and the applicable Class Principal Balance
after giving effect to such distribution.
Upon request by any Certificateholder, the Certificate Insurer or the
Trustee, the Master Servicer shall forward to such Certificateholder, the
Trustee and the Company (if the Company is no longer acting as Master Servicer)
and the Certificate Insurer an additional report which sets forth with respect
to the Mortgage Loans, separated by Loan Group:
(a) The number and aggregate Principal Balance of the Mortgage Loans
delinquent one, two and three months or more;
(b) The (i) number and aggregate Principal Balance of Mortgage Loans
with respect to which foreclosure proceedings have been initiated, and (ii) the
number, unpaid Principal Balance and aggregate book value of Mortgaged
Properties acquired through foreclosure, deed in lieu of foreclosure or other
exercise of rights respecting the Trustee's security interest in the Mortgage
Loans;
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(c) The amount of the related Special Hazard Coverage remaining as
of the close of business on the applicable Determination Date;
(d) The amount of Group I Bankruptcy Coverage and Group II
Bankruptcy Coverage available to the applicable Class A Certificates remaining
as of the close of business on the applicable Determination Date;
(e) The amount of Group I Fraud Coverage and Group II Fraud Coverage
available to the applicable Class A Certificates remaining as of the close of
business on the applicable Determination Date;
(f) The amount of Certificate Insurer Reimbursement Amounts as of
such Determination Date, any amount payable to the Certificate Insurer pursuant
to its subrogation rights, and the amount of coverage available to the Class A
Certificates under each Reserve Fund as of the close of business on the
applicable Determination Date;
(g) The amount of Realized Losses allocable to the Certificates on
the related Distribution Date and the cumulative amount of Realized Losses
allocated to such Certificates since the Cut-Off Date; and
(h) The Principal Balance of any Mortgage Loans repurchased pursuant
to Section 3.01 during the Prior Period and the cumulative Principal Balance of
all Mortgage Loans repurchased pursuant to Section 3.01 since the Closing Date.
Upon request by any Class R Certificateholder, the Master Servicer, as
soon as reasonably practicable, shall provide the requesting Certificateholder
with such information as is necessary and appropriate, in the Master Servicer's
sole discretion, for purposes of satisfying applicable reporting requirements
under Rule 144A of the Securities Act.
With respect to each Loan Group, on or before the third Distribution
Date preceding the Put Date for such Loan Group, the Master Servicer shall
prepare and forward to the Trustee and the Certificate Insurer (and to the
Company if the Company is no longer acting as Master Servicer), and the Trustee
shall forward to each Holder of a Class A Certificate related to such Loan
Group, notice to the effect that:
(i) (A) such Certificateholder, or Beneficial Holder in the
event that the Class A Certificates are still held in book-entry
form, has the right to exercise the Put Option during the thirty
day period ending on the Second Distribution Date preceding the
applicable Put Date, (B) if the Certificateholder or Beneficial
Holder, as the case may be, chooses to exercise the Put Option, no
interest shall accrue on such Certificate after the Put Date;
(ii) such Put Option may be exercised by (a) in the event that
the Class A Certificates are no longer held in book-entry form,
providing irrevocable, written notice of such Certificateholder's
exercise of the Put Option to the Master Servicer and presenting and
surrendering such Certificate at the office or agency of the
Certificate Registrar maintained for such purpose (the address of
which shall be
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set forth in such notice) or (b) in the event that such
Class A Certificates are still held in book-entry form, providing
irrevocable, written notice of such Beneficial Holder's exercise of
the Put Option to DTC;
(iii) if the Certificateholder, or the Beneficial Holder, as
the case may be, complies with the preceding clause, the Put
Purchase Price shall be payable on the Put Date;
(iv) if Certificateholders, or, if the Class A Certificates
are still held in book-entry form, Beneficial Holders, holding more
than 90% of the Class Principal Balance of the applicable Class A
Certificates notify the Master Servicer of their intent to exercise
the Put Option, the Bank will be entitled to exercise the Clean-Up
Option; and
(v) if the Bank fails to honor the Put Option with respect to
any of the applicable Class A Certificates, the Certificate Insurer
may exercise the Certificate Insurer Clean-Up Option.
With respect to each Loan Group, on or prior to the Distribution Date
preceding the applicable Put Date, if the Bank intends to exercise the Clean-Up
Option, the Bank will cause the Master Servicer to prepare and forward to the
Trustee and the Certificate Insurer (and to the Company if the Company is no
longer acting as Master Servicer), and the Trustee shall forward to each Holder
of a Class A Certificate related to such Loan Group, notice to the effect that:
(i) the Bank has exercised the Clean-Up Option; and
(ii) if the Holder did not exercise the Put Option, (A) in the
event that the Class A Certificates are no longer held in book-entry
form, the Put Purchase Price will be payable upon presentation and
surrender of such Certificate at the office or agency of the
Certificate Registrar maintained for such purpose (the address of
which shall be set forth in such notice), and (B) no interest shall
accrue on such Certificate after the applicable Put Date.
The Bank shall give the Certificate Insurer and the Trustee
written notice not less than 30 days prior to each Put Date stating its
intention, or lack of intention, to repurchase the related Class A Certificates
upon exercise of the Put Option or to pay the Clean-Up Purchase Price upon
exercise of the Clean-Up Option.
With respect to each Loan Group, on or prior to the applicable Put
Date, if the Certificate Insurer has notified the Master Servicer of its intent
to exercise the Certificate Insurer Clean-Up Option after receiving Notice of
the existence of a Deficiency Amount of the type specified in clause (ii)(c) of
the definition of "Deficiency Amount", the Master Servicer shall prepare and
forward to the Trustee (and to the Company if the Company is no longer acting
as Master Servicer), and the Trustee shall forward to each Holder of a Class A
Certificate related to such Loan Group, notice to the effect that:
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(i) the Certificate Insurer has exercised the Certificate
Insurer Clean-Up Option; and
(ii) if the Holder did not exercise the Put Option, (A) in the
event that the Class A Certificates are no longer held in
book-entry form, the Put Purchase Price will be payable upon
presentation and surrender of such Certificate at the office or
agency of the Certificate Registrar maintained for such purpose
(the address of which shall be set forth in such notice), and (B)
no interest shall accrue on such Certificate after the applicable
Put Date.
Section 4.03. ADVANCES BY THE MASTER SERVICER; DISTRIBUTION REPORTS TO THE
TRUSTEE.
(a) To the extent described below, the Master Servicer is obligated
to advance its own funds to the Certificate Account to cover any shortfall
between (i) payments scheduled to be received in respect of the Mortgage
Loans, and (ii) the amounts actually deposited in the Certificate Account on
account of such payments. The Master Servicer's obligation to make any
advance or advances described in this Section 4.03 is effective only to the
extent that such advance is, in the good faith judgment of the Master
Servicer made on or before the Business Day immediately following the
Withdrawal Date, reimbursable from Insurance Proceeds or Liquidation Proceeds
of the related Mortgage Loans or recoverable as late Monthly Payments with
respect to the related Mortgage Loans or otherwise.
Prior to the close of business on the Business Day immediately
following each Withdrawal Date, the Master Servicer shall determine whether
or not it will make a Monthly P&I Advance on the third Business Day prior to
the next succeeding Distribution Date (in the event that the applicable
Servicer fails to make such advances) and shall furnish a statement to the
Trustee, the Paying Agent, if any, and to any Certificateholder or the
Certificate Insurer requesting the same, setting forth the aggregate amount
to be distributed on the next succeeding Distribution Date on account of
principal and interest, stated separately. In the event that full scheduled
amounts of principal and interest shall not have been received by or on
behalf of the Master Servicer prior to such Determination Date and the Master
Servicer shall have determined that a Monthly P&I Advance shall be made in
accordance with this Section 4.03, the Master Servicer shall so specify and
shall specify the aggregate amount of such advance.
In the event that the Master Servicer shall be required to make a
Monthly P&I Advance, it shall on the third Business Day prior to the related
Distribution Date either (i) deposit in the Certificate Account an amount
equal to such Monthly P&I Advance, (ii) make an appropriate entry in the
records of the Certificate Account that funds in such account being held for
future distribution or withdrawal have been, as permitted by this Section
4.03, used by the Master Servicer to make such Monthly P&I Advance, or (iii)
make advances in the form of any combination of (i) and (ii) aggregating the
amount of such Monthly P&I Advance. Any funds being held for future
distribution to Certificateholders and so used shall be replaced by the
Master Servicer by deposit in the Certificate Account on the third Business
Day immediately preceding any future Distribution Date to the extent that
funds in the Certificate Account on such Distribution Date shall be less than
payments to Certificateholders required to be made on such date. Under each
Servicing Contract, the Master Servicer is entitled to receive from the
Custodial
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Accounts for P&I amounts received by the applicable Servicer on particular
Mortgage Loans as late payments of principal and interest or as Liquidation
or Insurance Proceeds and respecting which the Master Servicer has made an
unreimbursed advance of principal and interest. The Master Servicer is also
entitled to receive other amounts from the Custodial Accounts for P&I to
reimburse itself for prior Nonrecoverable Advances respecting Mortgage Loans
serviced by the applicable Servicer. The Master Servicer shall deposit these
amounts in the Certificate Account prior to withdrawal pursuant to Section
3.05.
In accordance with Section 3.05, Monthly P&I Advances are
reimbursable to the Master Servicer from cash in the Certificate Account to
the extent that the Master Servicer shall determine that any such advances
previously made are Nonrecoverable Advances pursuant to Section 4.04.
(b) Prior to 5:00 P.M. New York City time on the third Business Day
prior to each Distribution Date, the Master Servicer shall provide the
Trustee and the Certificate Insurer with a statement regarding the amount of
the Deficiency Amount, if any, to be paid by the Certificate Insurer, the
amount, if any, to be withdrawn from each Reserve Fund with respect to the
related Reserve Fund Covered Amount and the amount of principal and interest,
the Residual Distribution Amount and the Excess Liquidation Proceeds to be
distributed to each Class of Certificates on such Distribution Date (such
amounts to be determined in accordance with the definition of "Certificate
Distribution Amount," Section 4.01 hereof and other related definitions set
forth in Article I hereof).
Section 4.04. NONRECOVERABLE ADVANCES. Any advance previously made by
the applicable Servicer pursuant to its Servicing Contract or by the Master
Servicer that the Master Servicer shall determine in its good faith judgment
not to be ultimately recoverable from Insurance Proceeds or Liquidation
Proceeds or otherwise of related Mortgage Loans or recoverable as late
Monthly Payments with respect to related Mortgage Loans shall be a
Nonrecoverable Advance. The determination by the Master Servicer that it or
the applicable Servicer has made a Nonrecoverable Advance or that any advance
would constitute a Nonrecoverable Advance, shall be evidenced by an Officer's
Certificate of the Master Servicer delivered to the Trustee on the
Determination Date and detailing the reasons for such determination.
Notwithstanding any other provision of this Agreement, any insurance policy
relating to the Mortgage Loans, or any other agreement relating to the
Mortgage Loans to which the Company or the Master Servicer is a party, (a)
the Company, the Master Servicer, and each Servicer shall not be obligated
to, and shall not, make any advance that, after reasonable inquiry and in its
sole discretion, the Company, the Master Servicer, or such Servicer shall
determine would be a Nonrecoverable Advance, and (b) the Company, the Master
Servicer, and each Servicer shall be entitled to reimbursement as provided in
Section 3.05(a)(i), (ii) and (iv) of this Agreement for any advances made
pursuant to this Agreement, any insurance policy relating to the Mortgage
Loans, or any other agreement relating to the Mortgage Loans to which the
Company or the Master Servicer is a party.
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ARTICLE V
THE CERTIFICATES
Section 5.01. THE CERTIFICATES.
(a) The Class A Certificates and the Residual Certificates shall be
substantially in the forms set forth in Exhibits A and B attached hereto, and
shall be executed by the Trustee, authenticated by the Trustee (or any duly
appointed Authenticating Agent) and delivered to or upon the order of the
Company upon receipt by the Trustee of the documents specified in Section
2.01. The Certificates shall be issuable in Authorized Denominations
evidencing Percentage Interests. Certificates shall be executed by manual or
facsimile signature on behalf of the Trustee by authorized officers of the
Trustee. Certificates bearing the manual or facsimile signatures of
individuals who were at the time of execution the proper officers of the
Trustee shall bind the Trustee, notwithstanding that such individuals or any
of them have ceased to hold such offices prior to the authentication and
delivery of such Certificates or did not hold such offices at the date of
such Certificates. No Certificate shall be entitled to any benefit under this
Agreement, or be valid for any purpose, unless there appears on such
Certificate a certificate of authentication substantially in the form
provided for herein executed by the Trustee or any Authenticating Agent by
manual signature, and such certificate upon any Certificate shall be
conclusive evidence, and the only evidence, that such Certificate has been
duly authenticated and delivered hereunder. All Certificates shall be dated
the date of their authentication. A statement of insurance satisfactory to
the Certificate Insurer shall be affixed to each Insured Certificate.
(b) The following definitions apply for purposes of this Section
5.01: "Disqualified Organization" means any Person which is not a Permitted
Transferee, but does not include any "Pass-Through Entity" which owns or
holds a Residual Certificate and of which a Disqualified Organization,
directly or indirectly, may be a stockholder, partner or beneficiary;
"Pass-Through Entity" means any regulated investment company, real estate
investment trust, common trust fund, partnership, trust or estate, and any
organization to which Section 1381 of the Code applies; "Ownership Interest"
means, with respect to any Residual Certificate, any ownership or security
interest in such Residual Certificate, including any interest in a Residual
Certificate as the Holder thereof and any other interest therein whether
direct or indirect, legal or beneficial, as owner or as pledgee; "Transfer"
means any direct or indirect transfer or sale of, or directly or indirectly
transferring or selling any Ownership Interest in a Residual Certificate; and
"Transferee" means any Person who is acquiring by Transfer any Ownership
Interest in a Residual Certificate.
(c) Restrictions on Transfers of the Residual Certificates to
Disqualified Organizations are set forth in this Section 5.01(c).
(i) Each Person who has or who acquires any Ownership Interest
in a Residual Certificate shall be deemed by the acceptance or
acquisition of such Ownership Interest to have agreed to be bound
by the following provisions and to have irrevocably authorized
the Trustee or its designee under clause (iii)(A) below to
deliver payments to a Person other than such Person and to negotiate
the terms
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of any mandatory sale under clause (iii)(B) below and to
execute all instruments of transfer and to do all other things
necessary in connection with any such sale. The rights of each
Person acquiring any Ownership Interest in a Residual Certificate
are expressly subject to the following provisions:
(A) Each Person holding or acquiring any Ownership
Interest in a Residual Certificate shall be a Permitted
Transferee and shall promptly notify the Trustee of
any change or impending change in its status as a
Permitted Transferee.
(B) In connection with any proposed Transfer of any
Ownership Interest in a Residual Certificate to a U.S.
Person, the Trustee shall require delivery to it, and
shall not register the Transfer of any Residual
Certificate until its receipt of (1) an affidavit and
agreement (a "Transferee Affidavit and Agreement")
attached hereto as Exhibit J from the proposed
Transferee, in form and substance satisfactory to the
Company, representing and warranting, among other
things, that it is not a Non-U.S. Person, that such
transferee is a Permitted Transferee, that it is not
acquiring its Ownership Interest in the Residual
Certificate that is the subject of the proposed
Transfer as a nominee, trustee or agent for any Person
who is not a Permitted Transferee, that for so long as
it retains its Ownership Interest in a Residual
Certificate, it will endeavor to remain a Permitted
Transferee, and that it has reviewed the provisions of
this Section 5.01(c) and agrees to be bound by them,
and (2) a certificate, attached hereto as Exhibit I,
from the Holder wishing to transfer the Residual
Certificate, in form and substance satisfactory to the
Company, representing and warranting, among other
things, that no purpose of the proposed Transfer is to
allow such Holder to impede the assessment or collection
of tax.
(C) Notwithstanding the delivery of a Transferee
Affidavit and Agreement by a proposed Transferee under
clause (B) above, if the Trustee has actual knowledge that
the proposed Transferee is not a Permitted Transferee, no
Transfer of an Ownership Interest in a Residual
Certificate to such proposed Transferee shall be effected.
(D) Each Person holding or acquiring any Ownership
Interest in a Residual Certificate agrees by holding or
acquiring such Ownership Interest (i) to require a
Transferee Affidavit and Agreement from any other
Person to whom such Person attempts to transfer its
Ownership Interest and to provide a certificate to the
Trustee in the form attached hereto as Exhibit J; (ii)
to obtain the express written consent of the Company
prior to any transfer of such Ownership Interest, which
consent may be withheld in the Company's sole
discretion; and (iii) to provide a certificate to the
Trustee in the form attached hereto as Exhibit I.
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(ii) The Trustee shall register the Transfer of any Residual
Certificate only if it shall have received the Transferee
Affidavit and Agreement, a certificate of the Holder requesting
such transfer in the form attached hereto as Exhibit J and all of
such other documents as shall have been reasonably required by
the Trustee as a condition to such registration.
(iii) (A) If any "disqualified organization" (as defined in
Section 860E(e)(5) of the Code) shall become a holder of a Residual
Certificate, then the last preceding Permitted Transferee shall
be restored, to the extent permitted by law, to all rights and
obligations as Holder thereof retroactive to the date of
registration of such Transfer of such Residual Certificate. If
any Non-U.S. Person shall become a holder of a Residual
Certificate, then the last preceding holder which is a U.S.
Person shall be restored, to the extent permitted by law, to all
rights and obligations as Holder thereof retroactive to the date
of registration of the Transfer to such Non-U.S. Person of such
Residual Certificate. If a transfer of a Residual Certificate is
disregarded pursuant to the provisions of Treasury Regulations
Section 1.860E-1 or Section 1.860G-3, then the last preceding
Permitted Transferee shall be restored, to the extent permitted
by law, to all rights and obligations as Holder thereof
retroactive to the date of registration of such Transfer of such
Residual Certificate. The Trustee shall be under no liability to
any Person for any registration of Transfer of a Residual
Certificate that is in fact not permitted by this Section 5.01(c)
or for making any payments due on such Certificate to the holder
thereof or for taking any other action with respect to such
holder under the provisions of this Agreement.
(B) If any purported Transferee shall become a Holder
of a Residual Certificate in violation of the restrictions
in this Section 5.01(c) and to the extent that the
retroactive restoration of the rights of the Holder of
such Residual Certificate as described in clause
(iii)(A) above shall be invalid, illegal or
unenforceable, then the Company shall have the right,
without notice to the Holder or any prior Holder of
such Residual Certificate, to sell such Residual Certificate
to a purchaser selected by the Company on such terms as the
Company may choose. Such purported Transferee shall
promptly endorse and deliver each Residual Certificate
in accordance with the instructions of the Company.
Such purchaser may be the Company itself or any
affiliate of the Company. The proceeds of such sale,
net of the commissions (which may include commissions
payable to the Company or its affiliates), expenses and
taxes due, if any, shall be remitted by the Company to
such purported Transferee. The terms and conditions of
any sale under this clause (iii)(B) shall be determined
in the sole discretion of the Company, and the Company
shall not be liable to any Person having an Ownership
Interest in a Residual Certificate as a result of its
exercise of such discretion.
(iv) The Company, on behalf of the Trustee, shall make
available, upon written request from the Trustee, all
information necessary to compute any tax
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imposed (A) as a result of the Transfer of an Ownership
Interest in a Residual Certificate to any Person who is
not a Permitted Transferee, including the information
regarding "excess inclusions" of such Residual Certificates
required to be provided to the Internal Revenue Service and
certain Persons as described in Treasury Regulation Section
1.860D-1(b)(5), and (B) as a result of any regulated
investment company, real estate investment trust, common
trust fund, partnership, trust, estate or organizations
described in Section 1381 of the Code having as among its
record holders at any time any Person who is not a Permitted
Transferee. Reasonable compensation for providing such
information may be required by the Company from such Person.
(v) The provisions of this Section 5.01 set forth prior
to this Section (v) may be modified, added to or eliminated,
provided that there shall have been delivered to the Trustee
the following:
(A) written notification from each Rating Agency
to the effect that the modification, addition to or
elimination of such provisions will not cause such
Rating Agency to downgrade its then-current Ratings of
the Certificates (determined in the case of the Insured
Certificates without regard to the effect of the
Certificate Insurance Policy) and the written consent
of the Certificate Insurer; and
(B) an Opinion of Counsel, in form and substance
satisfactory to the Company and the Certificate Insurer
(as evidenced by a certificate of the Company and the
Certificate Insurer), to the effect that such
modification, addition to or absence of such provisions
will not cause the Trust Fund to cease to qualify as a
REMIC and will not create a risk that (1) the Trust
Fund may be subject to an entity-level tax caused by
the Transfer of any Residual Certificate to a Person
which is not a Permitted Transferee or (2) a
Certificateholder or another Person will be subject to
a REMIC-related tax caused by the Transfer of a
Residual Certificate to a Person which is not a
Permitted Transferee.
(vi) The following legend shall appear on all Residual
Certificates:
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS
CERTIFICATE MAY BE MADE ONLY IF THE PROPOSED TRANSFEREE
PROVIDES A TRANSFER AFFIDAVIT TO THE COMPANY AND THE
TRUSTEE THAT (1) SUCH TRANSFEREE IS NOT EITHER (A) THE
UNITED STATES, ANY STATE OR POLITICAL SUBDIVISION THEREOF,
ANY FOREIGN GOVERNMENT, ANY INTERNATIONAL ORGANIZATION,
OR ANY AGENCY OR INSTRUMENTALITY OF ANY OF THE FOREGOING,
(B) ANY ORGANIZATION (OTHER THAN A COOPERATIVE DESCRIBED
IN SECTION 521 OF THE CODE) WHICH IS EXEMPT FROM THE
TAX IMPOSED BY CHAPTER 1 OF THE CODE UNLESS SUCH
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ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511
OF THE CODE, (C) ANY ORGANIZATION DESCRIBED IN SECTION
1381(a)(2)(C) OF THE CODE (ANY SUCH PERSON DESCRIBED IN
THE FOREGOING CLAUSES (A), (B), OR (C) BEING HEREINAFTER
REFERRED TO AS A "DISQUALIFIED ORGANIZATION"), OR (D) AN
AGENT OF A DISQUALIFIED ORGANIZATION AND (2) NO PURPOSE
OF SUCH TRANSFER IS TO ENABLE THE TRANSFEROR TO IMPEDE THE
ASSESSMENT OR COLLECTION OF TAX. SUCH AFFIDAVIT SHALL
INCLUDE CERTAIN REPRESENTATIONS AS TO THE FINANCIAL
CONDITION OF THE PROPOSED TRANSFEREE. NOTWITHSTANDING
THE REGISTRATION IN THE CERTIFICATE REGISTER OF ANY
TRANSFER, SALE OR OTHER DISPOSITION OF THIS CLASS R
CERTIFICATE TO A DISQUALIFIED ORGANIZATION OR AN AGENT OF
A DISQUALIFIED ORGANIZATION, SUCH REGISTRATION SHALL BE
DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND
SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER
FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT NOT LIMITED TO,
THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH
HOLDER OF THE CLASS R CERTIFICATE BY ACCEPTANCE OF THIS
CERTIFICATE SHALL BE DEEMED TO HAVE CONSENTED TO THE
PROVISIONS OF THIS PARAGRAPH.
(vii) The Holder of the Class R Certificate issued
hereunder having an Authorized Denomination of 0.01%, while not
a Disqualified Organization, is the Tax Matters Person for the
applicable REMIC.
(d) No transfer of a Residual Certificate shall be made unless the
transferee provides the Company and the Trustee with (i) a Transferee's
Agreement, substantially in the form of Exhibit G hereto, and (ii) either (a)
an affidavit substantially in the form of Exhibit A to Exhibit G hereto that
the proposed transferee is not an employee benefit plan or other plan or
arrangement subject to the prohibited transaction provisions of ERISA or
Section 4975 of the Code (or comparable provisions of any subsequent
enactments) (a "Plan"), a trustee of any Plan, or any other Person who is
using the "plan assets" of any Plan to effect such acquisition or (b) an
Opinion of Counsel acceptable to and in form and substance satisfactory to
the Trustee, the Certificate Insurer and the Company to the effect that the
purchase or holding of a Residual Certificate is permissible under applicable
law, will not constitute or result in a non-exempt prohibited transaction
under Section 406 of ERISA or Section 4975 of the Code, and will not subject
the Trustee, the Master Servicer, the Trust Fund, or the Company to any
obligation or liability (including obligations or liabilities under Section
406 of ERISA or Section 4975 of the Code) in addition to those undertaken in
this Agreement, which Opinion of Counsel shall not be an expense of the
Trustee, the Master Servicer, the Trust Fund or the Company.
(e) No transfer, sale, pledge or other disposition of a Residual
Certificate shall be made unless such transfer, sale, pledge or other
disposition is made in accordance with this Section 5.01(e) or Section 5.01(f).
Each Person who, at any time, acquires any ownership interest
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in any Residual Certificate shall be deemed by the acceptance or acquisition
of such ownership interest to have agreed to be bound by the following
provisions of this Section 5.01(e) and Section 5.01(f), as applicable. No
transfer of a Residual Certificate shall be deemed to be made in accordance
with this Section 5.01(e) unless such transfer is made pursuant to an
effective registration statement under the Securities Act or unless the
Trustee is provided with the certificates and an Opinion of Counsel, if
required, on which the Trustee may conclusively rely, which establishes or
establish to the Trustee's satisfaction that such transfer is exempt from the
registration requirements under the Securities Act, as follows: In the
event that a transfer is to be made in reliance upon an exemption from the
Securities Act, the Trustee shall require, in order to assure compliance with
the Securities Act, that the Certificateholder desiring to effect such
transfer certify to the Trustee in writing, in substantially the form
attached hereto as Exhibit F, the facts surrounding the transfer, with such
modifications to such Exhibit F as may be appropriate to reflect the actual
facts of the proposed transfer, and that the Certificateholder's proposed
transferee certify to the Trustee in writing, in substantially the form
attached hereto as Exhibit G, the facts surrounding the transfer, with such
modifications to such Exhibit G as may be appropriate to reflect the actual
facts of the proposed transfer. If such certificate of the proposed
transferee does not contain substantially the substance of Exhibit G, the
Trustee shall require an Opinion of Counsel satisfactory to it that such
transfer may be made without registration, which Opinion of Counsel shall not
be obtained at the expense of the Trustee, the Trust Fund or the Company.
Such Opinion of Counsel shall allow for the forwarding, and the Trustee shall
forward, a copy thereof to the Rating Agency and the Certificate Insurer (and
such Opinion of Counsel shall be addressed to the Trustee and the Certificate
Insurer). Notwithstanding the foregoing, any Residual Certificate may be
transferred, sold, pledged or otherwise disposed of in accordance with the
requirements set forth in Section 5.01(f).
(f) No transfer of a Residual Certificate may be made unless in
accordance with this Section 5.01(f) or Section 5.01(e). To effectuate a
Certificate transfer in accordance with this Section 5.01(f), the proposed
transferee of such Certificate must provide the Trustee and the Company with
an investment letter substantially in the form of Exhibit L attached hereto,
which investment letter shall not be an expense of the Trustee or the
Company, and which investment letter states that, among other things, such
transferee (i) is a "qualified institutional buyer" as defined under Rule
144A, acting for its own account or the accounts of other "qualified
institutional buyers" as defined under Rule 144A, and (ii) is aware that the
proposed transferor intends to rely on the exemption from registration
requirements under the Securities Act provided by Rule 144A. Notwithstanding
the foregoing, the proposed transferee of such Certificate shall not be
required to provide the Trustee or the Company with Annex 1 or Annex 2 to the
form of Exhibit L attached hereto if the Company so consents prior to each
such transfer. Such transfers shall be deemed to have complied with the
requirements of this Section 5.01(f). The Holder of a Certificate desiring to
effect such transfer does hereby agree to indemnify the Trustee, the Company,
and the Certificate Registrar against any liability that may result if
transfer is not made in accordance with this Agreement.
Section 5.02. CERTIFICATES ISSUABLE IN CLASSES; DISTRIBUTIONS OF
PRINCIPAL AND INTEREST; AUTHORIZED DENOMINATIONS The aggregate principal
amount of Certificates that may be authenticated and delivered under this
Agreement is limited to the aggregate Principal Balance of the Mortgage Loans
as of the Cut-Off Date, as specified in the Preliminary Statement to this
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Agreement, except for Certificates authenticated and delivered upon
registration of transfer of, or in exchange for, or in lieu of, other
Certificates pursuant to Section 5.03. Such aggregate principal amount shall
be allocated among one or more Classes having designations, types of
interests, initial per annum Remittance Rates, initial Class Principal
Balances, initial Component Balances and Last Scheduled Distribution Dates as
specified in the Preliminary Statement to this Agreement. The aggregate
Percentage Interest of each Class of Certificates of which the Class
Principal Balance equals zero as of the Cut-Off Date that may be
authenticated and delivered under this Agreement is limited to 100%.
Certificates shall be issued in Authorized Denominations.
Section 5.03. REGISTRATION OF TRANSFER AND EXCHANGE OF CERTIFICATES.
The Trustee shall cause to be maintained at one of its offices or at its
designated agent, a Certificate Register in which there shall be recorded the
name and address of each Certificateholder. Subject to such reasonable rules
and regulations as the Trustee may prescribe, the Certificate Register shall
be amended from time to time by the Trustee or its agent to reflect notice of
any changes received by the Trustee or its agent pursuant to Section 10.06.
The Trustee hereby appoints itself as the initial Certificate Registrar.
Upon surrender for registration of transfer of any Certificate to
the Trustee at the office of First Trust of New York, National Association,
100 Wall Street, Suite 1600, New York, NY 10005, Attention: Glenn Anderson,
or such other address or agency as may hereafter be provided to the Master
Servicer in writing by the Trustee, the Trustee shall execute, and the
Trustee or any Authenticating Agent shall authenticate and deliver, in the
name of the designated transferee or transferees, one or more new
Certificates of Authorized Denominations of like Percentage Interest. At the
option of the Certificateholders, Certificates may be exchanged for other
Certificates in Authorized Denominations of like Percentage Interest, upon
surrender of the Certificates to be exchanged at any such office or agency.
Whenever any Certificates are so surrendered for exchange, the Trustee shall
execute, and the Trustee, or any Authenticating Agent, shall authenticate and
deliver, the Certificates which the Certificateholder making the exchange is
entitled to receive. Every Certificate presented or surrendered for transfer
shall (if so required by the Trustee or any Authenticating Agent) be duly
endorsed by, or be accompanied by a written instrument of transfer in form
satisfactory to the Trustee or any Authenticating Agent and duly executed by,
the Holder thereof or such Holder's attorney duly authorized in writing.
A reasonable service charge may be made for any such exchange or
transfer of Certificates, and the Trustee may require payment of a sum
sufficient to cover any tax or governmental charge that may be imposed in
connection with any exchange or transfer of Certificates.
All Certificates surrendered for exchange or transfer shall be
cancelled by the Trustee or any Authenticating Agent.
Section 5.04. MUTILATED, DESTROYED, LOST OR STOLEN CERTIFICATES. If (i)
any mutilated Certificate is surrendered to the Trustee or any Authenticating
Agent, or (ii) the Trustee or any Authenticating Agent receives evidence to
their satisfaction of the destruction, loss or theft of any Certificate, and
there is delivered to the Trustee or any Authenticating Agent and the
Certificate
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Insurer such security or indemnity as may be required by them to save each of
them harmless, then, in the absence of notice to the Trustee or any
Authenticating Agent that such Certificate has been acquired by a bona fide
purchaser, the Trustee shall execute and the Trustee or any Authenticating
Agent shall authenticate and deliver, in exchange for or in lieu of any such
mutilated, destroyed, lost or stolen Certificate, a new Certificate of like
Percentage Interest. Upon the issuance of any new Certificate under this
Section 5.04, the Trustee or any Authenticating Agent may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses (including the fees and
expenses of the Trustee or any Authenticating Agent) connected therewith. Any
replacement Certificate issued pursuant to this Section 5.04 shall constitute
complete and indefeasible evidence of ownership in the Trust Fund as if
originally issued, whether or not the lost or stolen Certificate shall be
found at any time.
Section 5.05. PERSONS DEEMED OWNERS. The Company, the Master Servicer,
the Trustee, the Certificate Insurer, and any agent of any of them may treat
the Person in whose name any Certificate is registered as the owner of such
Certificate for the purpose of receiving distributions pursuant to Section
4.01 and for all other purposes whatsoever, and neither the Company, the
Master Servicer, the Certificate Insurer, the Trustee, the Certificate
Registrar nor any agent of the Company, the Master Servicer, the Certificate
Insurer, or the Trustee shall be affected by notice to the contrary.
Section 5.06. TEMPORARY CERTIFICATES. Upon the initial issuance of the
Certificates, the Trustee may execute, and the Trustee or any Authenticating
Agent shall authenticate and deliver, temporary Certificates which are
printed, lithographed, typewritten or otherwise produced, in any Authorized
Denomination, of the tenor of the definitive Certificates in lieu of which
they are issued and with such variations in form from the forms of the
Certificates set forth as Exhibits A and B hereto as the Trustee's officers
executing such Certificates may determine, as evidenced by their execution of
the Certificates. Notwithstanding the foregoing, the Certificates may remain
in the form set forth in this definition of "Temporary Certificates."
If temporary Certificates are issued, the Trustee shall cause
definitive Certificates to be prepared within ten Business Days of the
Closing Date or as soon as practicable thereafter. After preparation of
definitive Certificates, the temporary Certificates shall be exchangeable for
definitive Certificates upon surrender of the temporary Certificates at the
office or agency of the Trustee to be maintained as provided in Section 5.10
hereof, without charge to the holder. Any tax or governmental charge that may
be imposed in connection with any such exchange shall be borne by the Master
Servicer. Upon surrender for cancellation of any one or more temporary
Certificates, the Trustee shall execute and the Trustee or any Authenticating
Agent shall authenticate and deliver in exchange therefor a like principal
amount of definitive Certificates of Authorized Denominations. Until so
exchanged, the temporary Certificates shall in all respects be entitled to
the same benefits under this Agreement as definitive Certificates.
Section 5.07. BOOK-ENTRY FOR BOOK-ENTRY CERTIFICATES. Notwithstanding
the foregoing, the Book-Entry Certificates, upon original issuance, shall be
issued in the form of one or more typewritten Certificates of Authorized
Denomination representing the Book-Entry Certificates, to be delivered to
DTC, the initial Clearing Agency, by, or on behalf of, the
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Company, except that one Book-Entry Certificate of each Class of Book-Entry
Certificates may be issued in a denomination less than $1 and, if so issued,
shall be held in physical certificate form directly by the holder thereof.
The Book-Entry Certificates shall initially be registered on the Certificate
Register in the name of Cede & Co., the nominee of DTC, as the initial
Clearing Agency, and no Beneficial Holder shall receive a definitive
certificate representing such Beneficial Holder's interest in any Class of
Book-Entry Certificate, except as provided above and in Section 5.09. Each
Book-Entry Certificate shall bear the following legend:
Unless this Certificate is presented by an authorized representative of
The Depository Trust Company, a New York corporation ("DTC"), to the
Trustee or its agent for registration of transfer, exchange, or payment,
and any Certificate issued is registered in the name of Cede & Co. or
such other name as is requested by an authorized representative of DTC
(and any payment is made to Cede & Co. or to such other entity as is
requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an
interest herein.
Unless and until definitive, fully registered Book-Entry Certificates (the
"Definitive Certificates") have been issued to the Beneficial Holders
pursuant to Section 5.09:
(a) the provisions of this Section 5.07 shall be in full force and
effect with respect to the Book-Entry Certificates;
(b) subject to Section 10.03, the Master Servicer and the Trustee
may deal with the Clearing Agency for all purposes with respect to the
Book-Entry Certificates (including the making of distributions on the
Book-Entry Certificates) as the sole Certificateholder;
(c) to the extent that the provisions of this Section 5.07
conflict with any other provisions of this Agreement, the provisions of
this Section 5.07 shall control; and
(d) Subject to Section 10.03, the rights of the Beneficial Holders
shall be exercised only through the Clearing Agency and the DTC
Participants and shall be limited to those established by law and
agreements between such Beneficial Holders and the Clearing Agency
and/or the DTC Participants. Pursuant to the Depositary Agreement,
unless and until Definitive Certificates are issued pursuant to Section
5.09, the initial Clearing Agency will make book-entry transfers among
the DTC Participants and receive and transmit distributions of principal
and interest on the related Class of Book-Entry Certificates to such DTC
Participants.
For purposes of any provision of this Agreement requiring or
permitting actions with the consent of, or at the direction of, Holders of
Book-Entry Certificates evidencing a specified Percentage Interest, such
direction or consent may be given by the Clearing Agency at the direction of
Beneficial Holders owning Book-Entry Certificates evidencing the requisite
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Percentage Interest represented by the Book-Entry Certificates. The Clearing
Agency may take conflicting actions with respect to the Book-Entry
Certificates to the extent that such actions are taken on behalf of the
Beneficial Holders.
Section 5.08. NOTICES TO CLEARING AGENCY. Whenever notice or other
communication to the Certificateholders is required under this Agreement,
unless and until Definitive Certificates shall have been issued to the
related Certificateholders pursuant to Section 5.09, the Trustee shall give
all such notices and communications specified herein to be given to Holders
of the Book-Entry Certificates to the Clearing Agency which shall give such
notices and communications to the related DTC Participants in accordance with
its applicable rules, regulations and procedures.
Section 5.09. DEFINITIVE CERTIFICATES. If (a) the Master Servicer
notifies the Trustee in writing that the Clearing Agency is no longer willing
or able to discharge properly its responsibilities under the Depositary
Agreement with respect to the Book-Entry Certificates and the Trustee or the
Master Servicer is unable to locate a qualified successor, (b) the Master
Servicer, at its option, advises the Trustee in writing that it elects to
terminate the book-entry system with respect to the Book-Entry Certificates
through the Clearing Agency or (c) after the occurrence of an Event of
Default, Certificateholders holding Book-Entry Certificates evidencing
Percentage Interests aggregating not less than 66% of the aggregate Class
Principal Balance of such Certificates advise the Trustee and the Clearing
Agency through DTC Participants in writing that the continuation of a
book-entry system with respect to the Book-Entry Certificates through the
Clearing Agency is no longer in the best interests of the Certificateholders
with respect to such Certificates, the Trustee shall notify all
Certificateholders of Book-Entry Certificates and the Certificate Insurer of
the occurrence of any such event and of the availability of Definitive
Certificates. Upon surrender to the Trustee of the Book-Entry Certificates by
the Clearing Agency, accompanied by registration instructions from the
Clearing Agency for registration, the Trustee shall execute and the Trustee
or any Authenticating Agent shall authenticate and deliver the Definitive
Certificates. Neither the Company, the Master Servicer nor the Trustee shall
be liable for any delay in delivery of such instructions and may conclusively
rely on, and shall be protected in relying on, such instructions. Upon the
issuance of Definitive Certificates for all of the Certificates all
references herein to obligations imposed upon or to be performed by the
Clearing Agency shall be deemed to be imposed upon and performed by the
Trustee, to the extent applicable with respect to such Definitive
Certificates, and the Trustee shall recognize the Holders of Definitive
Certificates as Certificateholders hereunder.
Section 5.10. OFFICE FOR TRANSFER OF CERTIFICATES. The Trustee shall
maintain in New York, New York, an office or agency where Certificates may be
surrendered for registration of transfer or exchange. First Trust of New
York, National Association, 100 Wall Street, Suite 1600, New York, New York
10005, Attention: Tom Bowen, is initially designated for said purposes.
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ARTICLE VI
THE COMPANY AND THE MASTER SERVICER
Section 6.01. LIABILITY OF THE COMPANY AND THE MASTER SERVICER. The
Company and the Master Servicer shall be liable in accordance herewith only
to the extent of the obligations specifically imposed upon and undertaken by
the Company or the Master Servicer, as applicable, herein.
Section 6.02. MERGER OR CONSOLIDATION OF THE COMPANY OR THE MASTER
SERVICER. Any corporation into which the Company or the Master Servicer may
be merged or consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Company or the Master Servicer
shall, with the written consent of the Certificate Insurer of the successor
entity has a net worth of less than $10,000,000, be a party, or any
corporation succeeding to the business of the Company or the Master Servicer,
shall be the successor of the Company or the Master Servicer hereunder,
without the execution or filing of any paper or any further act on the part
of any of the parties hereto, anything herein to the contrary notwithstanding.
Section 6.03. LIMITATION ON LIABILITY OF THE COMPANY, THE MASTER
SERVICER AND OTHERS. Neither the Company nor the Master Servicer nor any of
the directors, officers, employees or agents of the Company or the Master
Servicer shall be under any liability to the Trust Fund or the
Certificateholders for any action taken by such Person or by a Servicer or
for such Person's or Servicer's refraining from the taking of any action in
good faith pursuant to this Agreement, or for errors in judgment; provided,
however, that this provision shall not protect the Company, the Master
Servicer or any such Person against any liability which would otherwise be
imposed by reason of willful misfeasance, bad faith or negligence in the
performance of duties or by reason of reckless disregard of duties and
obligations hereunder. The Company, the Master Servicer and any director,
officer, employee or agent of the Company or the Master Servicer may rely in
good faith on any document of any kind properly executed and submitted by any
Person respecting any matters arising hereunder. The Company, the Master
Servicer and any director, officer, employee or agent of the Company or the
Master Servicer shall be indemnified by the Trust Fund and held harmless
against any loss, liability or expense incurred in connection with any legal
action relating to this Agreement or the Certificates, other than any loss,
liability or expense relating to any Mortgage Loan (other than as otherwise
permitted in this Agreement) or incurred by reason of willful misfeasance,
bad faith or negligence in the performance of duties hereunder or by reason
of reckless disregard of obligations and duties hereunder. The Company and
the Master Servicer shall not be under any obligation to appear in, prosecute
or defend any legal action which is not incidental to its duties to service
the Mortgage Loans in accordance with this Agreement and which in its opinion
may involve it in any expense or liability; provided, however, that the
Company or the Master Servicer may in its discretion undertake any such
action which it may deem necessary or desirable with respect to the Mortgage
Loans, this Agreement, the Certificates or the rights and duties of the
parties hereto and the interests of the Certificateholders hereunder. In such
event, the legal expenses and costs of such action and any liability
resulting therefrom shall be expenses, costs and liabilities of the Trust
Fund and the Company and the Master Servicer shall be entitled to be
reimbursed therefor out of the Certificate Account after termination of the
Trust Fund, as provided by Section 3.05(a)(vii); provided, however, that any
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indemnifications or reimbursements to the Company, the Master Servicer or any
director, officer, employee or agent of the Company or the Master Servicer
pursuant to this Section 6.03 shall only be payable from amounts otherwise
payable to the Residual Certificates (except amounts payable to the Residual
Certificates relating to Excess Interest).
Section 6.04. THE COMPANY AND MASTER SERVICER NOT TO RESIGN. The
Company shall not resign from the obligations and duties (including, without
limitation, its obligations and duties as initial Master Servicer) hereby
imposed on it except upon determination that its duties hereunder are no
longer permissible under applicable law. Any successor Master Servicer shall
not resign from the obligations and duties hereby imposed on it except upon
determination that its duties hereunder are no longer permissible under
applicable law. Any such determination permitting the resignation of the
Company or any successor Master Servicer shall be evidenced by an Opinion of
Counsel to such effect delivered to the Trustee and the Certificate Insurer.
No such resignation shall become effective until the Trustee or a successor
Master Servicer shall have assumed the Master Servicer's responsibilities and
obligations in accordance with Section 7.02 hereof.
If the Company is no longer acting as Master Servicer, then the
successor Master Servicer shall give prompt written notice to the Company of
any information received by such successor Master Servicer which affects or
relates to an ongoing obligation or right of the Company under this Agreement.
ARTICLE VII
DEFAULT
Section 7.01. EVENTS OF DEFAULT. (a) In case one or more of the
following Events of Default by the Company, either in its own capacity or in
its capacity as Master Servicer or by a successor Master Servicer shall occur
and be continuing, that is to say:
(i) Any failure by the Master Servicer to distribute to
Certificateholders any payment required to be made under the terms of
the Certificates and this Agreement which continues unremedied for a
period of three days after the date upon which written notice of such
failure, requiring the same to be remedied, shall have been given to the
Master Servicer by the Trustee or to the Master Servicer and the Trustee
by the Certificate Insurer or the Holders of Certificates evidencing
Percentage Interests aggregating not less than 25% of the Trust Fund; or
(ii) Failure on the part of the Master Servicer duly to observe or
perform in any material respect any other of the covenants or agreements
on the part of the Master Servicer contained in the Certificates or in
this Agreement which continues unremedied for a period of 60 days after
the date on which written notice of such failure, requiring the same to
be remedied, shall have been given to the Master Servicer by the
Trustee, or to the Master Servicer and the
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Trustee by the Certificate Insurer or the Holders of Certificates
evidencing Percentage Interests aggregating not less than 25% of the
Trust Fund; or
(iii) A decree or order of a court or agency or supervisory
authority having jurisdiction in the premises for the appointment of a
trustee in bankruptcy, conservator or receiver or liquidator in any
bankruptcy, insolvency, readjustment of debt, marshalling of assets and
liabilities or similar proceedings, or for the winding-up or liquidation
of its affairs, shall have been entered against the Master Servicer and
such decree or order shall have remained in force undischarged or
unstayed for a period of 60 days; or
(iv) The Master Servicer shall consent to the appointment of a
trustee in bankruptcy, conservator or receiver or liquidator in any
bankruptcy, insolvency, readjustment of debt, marshalling of assets and
liabilities or similar proceedings of or relating to the Master Servicer
or of or relating to all or substantially all of its property; or
(v) The Master Servicer shall admit in writing its inability to
pay its debts generally as they become due, file a petition to take
advantage of any applicable bankruptcy, insolvency or reorganization
statute, make an assignment for the benefit of its creditors, or
voluntarily suspend payment of its obligations;
(vi) Any failure of the Master Servicer to make any Monthly P&I
Advance (other than a Nonrecoverable Advance) which continues unremedied
at the opening of business on the Distribution Date in respect of which
such Monthly P&I Advance was to have been made; or
(vii) So long as the Master Servicer owns, is owned by, under
common ownership with or otherwise an affiliate of the Bank, the
Certificate Insurer pays any claim pursuant to clause (ii)(c) of the
definition of "Deficiency Amount."
then, and in each and every such case, so long as an Event of Default shall
not have been remedied, either the Trustee (provided that the Trustee may act
only with the consent or at the direction of the Certificate Insurer), or,
subject to Section 10.03, the Holders of Class A Certificates evidencing
Percentage Interests aggregating not less than 25% of the Trust Fund, by
notice in writing to the Company, the Certificate Insurer and the Master
Servicer (and to the Trustee if given by the Certificateholders, in which
case such notice shall set forth evidence reasonably satisfactory to the
Trustee that such Event of Default has occurred and shall not have been
remedied) may terminate all of the rights (other than its right to
reimbursement for advances) and obligations of the Master Servicer, including
its right to the Master Servicing Amount for each Mortgage Loan, under this
Agreement and in and to the Mortgage Loans and the proceeds thereof, if any.
Such determination shall be final and binding. On or after the receipt by the
Master Servicer of such written notice, all authority and power of the Master
Servicer under this Agreement, whether with respect to the Certificates or
the Mortgage Loans or otherwise, shall pass to and be vested in the Trustee
pursuant to and under this Section 7.01; and, without limitation, the Trustee
is hereby authorized and empowered to execute and deliver, on behalf of
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the Master Servicer, as attorney-in-fact or otherwise, any and all documents
and other instruments, and to do or accomplish all other acts or things
necessary or appropriate to effect the purposes of such notice of
termination, whether to complete the transfer and endorsement or assignment
of the Mortgage Loans and related documents, or otherwise. The Master
Servicer agrees to cooperate with the Trustee in effecting the termination of
the Master Servicer's responsibilities and rights hereunder, including,
without limitation, the transfer to the Trustee for administration by it of
all cash amounts which shall at the time be credited by the Master Servicer
to the Certificate Account or thereafter be received with respect to the
Mortgage Loans.
Notwithstanding the foregoing, if an Event of Default described in
clause (vi) of this Section 7.01(a) shall occur, the Trustee shall, by notice
in writing to the Master Servicer, and the Certificate Insurer, which may be
delivered by telecopy, immediately suspend all of the rights and obligations
of the Master Servicer thereafter arising under this Agreement, but without
prejudice to any rights it may have as a Certificateholder or to
reimbursement of Monthly P&I Advances and other advances of its own funds,
and the Trustee shall act as provided in Section 7.02 to carry out the duties
of the Master Servicer, including the obligation to make any Monthly P&I
Advance the nonpayment of which was an Event of Default described in clause
(vi) of this Section 7.01(a). Any such action taken by the Trustee must be
prior to the distribution on the relevant Distribution Date. If the Master
Servicer shall within two Business Days following such suspension remit to
the Trustee the amount of any Monthly P&I Advance the nonpayment of which by
the Master Servicer was an Event of Default described in clause (vi) of this
Section 7.01(a), the Trustee with the prior written consent of the
Certificate Insurer shall permit the Master Servicer to resume its rights and
obligations as Master Servicer hereunder. The Master Servicer agrees that it
will reimburse the Trustee for actual, necessary and reasonable costs
incurred by the Trustee because of action taken pursuant to clause (vi) of
this Section 7.01(a). The Master Servicer agrees that if an Event of Default
as described in clause (vi) of this Section 7.01(a) shall occur more than two
times in any twelve month period, the Trustee shall be under no obligation to
permit the Master Servicer to resume its rights and obligations as Master
Servicer hereunder and the Trustee may not permit the Master Servicer to do
so without the prior written consent of the Certificate Insurer.
(b) In the event the Company is no longer acting as Master Servicer,
in case one or more of the following Events of Default by the Company shall
occur and be continuing, that is to say:
(i) Failure on the part of the Company duly to observe or perform
in any material respect any of the covenants or agreements on the part
of the Company contained in the Certificates or in this Agreement which
continues unremedied for a period of 60 days after the date on which
written notice of such failure, requiring the same to be remedied, shall
have been given to the Company by the Trustee, or to the Company and the
Trustee by the Certificate Insurer or the Holders of Certificates
evidencing Percentage Interests aggregating not less than 25% of the
Trust Fund; or
(ii) A decree or order of a court or agency or supervisory
authority having jurisdiction in the premises for the appointment of a
trustee in bankruptcy,
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conservator or receiver or liquidator in any bankruptcy, insolvency,
readjustment of debt, marshalling of assets and liabilities or similar
proceedings, or for the winding-up or liquidation of its affairs, shall
have been entered against the Company and such decree or order shall
have remained in force undischarged or unstayed for a period of 60 days;
or
(iii) The Company shall consent to the appointment of a trustee
in bankruptcy, conservator or receiver or liquidator in any bankruptcy,
insolvency, readjustment of debt, marshalling of assets and liabilities
or similar proceedings of or relating to the Company or of or relating
to all or substantially all of its property; or
(iv) The Company shall admit in writing its inability to pay its
debts generally as they become due, file a petition to take advantage of
any applicable bankruptcy, insolvency or reorganization statute, make an
assignment for the benefit of creditors, or voluntarily suspend payment
of its obligations;
then, and in each and every such case, so long as such Event of Default shall
not have been remedied, subject to Section 10.03 the Holders of Class A
Certificates evidencing Percentage Interests aggregating not less than 25% of
the Trust Fund, by notice in writing to the Company, the Certificate Insurer and
the Trustee, may direct the Trustee in accordance with Section 10.03 to
institute an action, suit or proceeding in its own name as Trustee hereunder to
enforce the Company's obligations hereunder; provided, however, that this
Section 7.01(b) shall not prevent the Trustee or the Certificate Insurer from
taking any action hereunder against the Company prior to the time periods set
forth in Section 7.01(b).
(c) In any circumstances in which this Agreement states that
Certificateholders owning Certificates evidencing a certain Percentage
Interest in the Trust Fund may take certain action, such action shall be
taken by the Trustee, but only if, subject to Section 10.03, the requisite
percentage of Certificateholders required under this Agreement for taking
like action or giving like instruction to the Trustee under this Agreement
shall have so directed the Trustee in writing.
Section 7.02. TRUSTEE TO ACT; APPOINTMENT OF SUCCESSOR. On and after
the time the Master Servicer receives a notice of termination pursuant to
Section 7.01, the Trustee shall be the successor in all respects to the
Master Servicer under this Agreement and under the Servicing Contracts with
respect to the Mortgage Loans in the Mortgage Pool and with respect to the
transactions set forth or provided for herein and shall have all the rights
and powers and be subject to all the responsibilities, duties and liabilities
relating thereto arising after the Master Servicer receives such notice of
termination placed on the Master Servicer by the terms and provisions hereof
and thereof, and shall have the same limitations on liability herein granted
to the Master Servicer; provided, that the Trustee shall not under any
circumstances be responsible for any representations and warranties or any
Purchase Obligation of the Company or any liability incurred by the Master
Servicer at or prior to the time the Master Servicer was terminated as Master
Servicer and the Trustee shall make Monthly P&I Advances that the Master
Servicer failed to make prior to receipt of the notice of termination but
shall not be obligated to make a
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Monthly P&I Advance if it is prohibited by law from so doing. As compensation
therefor, the Trustee shall be entitled to all funds relating to the Mortgage
Loans which the Master Servicer would have been entitled to retain or to
withdraw from the Certificate Account if the Master Servicer had continued to
act hereunder, except for those amounts due to the Master Servicer as
reimbursement for advances previously made or amounts previously expended and
are otherwise reimbursable hereunder. Notwithstanding the above, the Trustee
shall if directed by the Certificate Insurer and may, if it shall be
unwilling to so act, or shall if it is unable to so act, appoint, or petition
a court of competent jurisdiction to appoint, any established housing and
home finance institution having a net worth of not less than $10,000,000 and
which is acceptable to the Certificate Insurer as the successor to the Master
Servicer hereunder in the assumption of all or any part of the
responsibilities, duties or liabilities of the Master Servicer hereunder.
Pending any such appointment, the Trustee is obligated to act in such
capacity. In connection with such appointment and assumption, the Trustee may
make such arrangements for the compensation of such successor out of payments
on Mortgage Loans as it and such successor shall agree; provided, however,
that no such compensation shall, together with the compensation to the
Trustee, be in excess of that permitted the Master Servicer hereunder. The
Trustee and such successor shall take such actions, consistent with this
Agreement, as shall be necessary to effectuate any such succession.
Section 7.03. NOTIFICATION TO CERTIFICATEHOLDERS. Upon any such
termination or appointment of a successor to the Master Servicer, the Trustee
shall give prompt written notice thereof to the Certificate Insurer and the
Certificateholders at their respective addresses appearing in the Certificate
Register.
ARTICLE VIII
CONCERNING THE TRUSTEE
Section 8.01. DUTIES OF TRUSTEE.
(a) The Trustee, prior to the occurrence of an Event of Default
and after the curing of all Events of Default which may have occurred,
undertakes to perform such duties and only such duties as are specifically
set forth in this Agreement. In case an Event of Default has occurred (which
has not been cured or waived) the Trustee shall exercise such of the rights
and powers vested in it by this Agreement, and use the same degree of care
and skill in its exercise as a prudent person would exercise or use under the
circumstances in the conduct of such person's own affairs.
(b) The Trustee, upon receipt of all resolutions, certificates,
statements, opinions, reports, documents, orders or other instruments
furnished to the Trustee which are specifically required to be furnished
pursuant to any provision of this Agreement, shall examine them to determine
whether they are in the form required by this Agreement; provided, however,
that the Trustee shall not be responsible for the accuracy or content of any
such certificate, statement, opinion, report, or other order or instrument
furnished by the Company or Master Servicer to the Trustee pursuant to this
Agreement.
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(c) No provision of this Agreement shall be construed to relieve the
Trustee from liability for its own negligent action, its own negligent failure
to act or its own willful misconduct; provided, however, that:
(i) Prior to the occurrence of an Event of Default and after
the curing of all such Events of Default which may have occurred,
the duties and obligations of the Trustee shall be determined
solely by the express provisions of this Agreement, the Trustee
shall not be liable except for the performance of such duties and
obligations as are specifically set forth in this Agreement, no
implied covenants or obligations shall be read into this Agreement
against the Trustee, and, in the absence of bad faith on the part
of the Trustee, the Trustee may conclusively rely, as to the truth
of the statements and the correctness of the opinions expressed
therein, upon any certificates or opinions furnished to the Trustee
and conforming to the requirements of this Agreement; and
(ii) The Trustee shall not be personally liable with respect
to any action taken or omitted to be taken by it in good faith in
accordance with the direction of the Certificateholders holding
Certificates which evidence Percentage Interests aggregating not
less than 25% of the Trust Fund relating to the time, method and
place of conducting any proceeding for any remedy available to the
Trustee, or relating to the exercise of any trust or power
conferred upon the Trustee under this Agreement.
(d) Within three Business Days after the occurrence of any Event of
Default known to the Trustee, the Trustee shall transmit by mail to the Rating
Agency and the Certificate Insurer notice of each Event of Default. Within 90
days after the occurrence of any Event of Default known to the Trustee, the
Trustee shall transmit by mail to all Certificateholders (with a copy to the
Rating Agency) notice of each Event of Default, unless such Event of Default
shall have been cured or waived; provided, however, the Trustee shall be
protected in withholding such notice if and so long as a Responsible Officer of
the Trustee in good faith determines that the withholding of such notice is in
the best interests of the Certificateholders; and provided, further, that in the
case of any Event of Default of the character specified in Section 7.01(i) and
Section 7.01(ii) no such notice to Certificateholders shall be given until at
least 30 days after the occurrence thereof.
Section 8.02. CERTAIN MATTERS AFFECTING THE TRUSTEE. Except as otherwise
provided in Section 8.01:
(i) The Trustee may request and rely upon and shall be
protected in acting or refraining from acting upon any resolution,
Officer's Certificate, certificate of auditors or any other
certificate, statement, instrument, opinion, report, notice,
request, consent, order, approval, bond or other paper or document
believed by it to be genuine and to have been signed or presented
by the proper party or parties;
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(ii) The Trustee may consult with counsel selected by it with
due care and any Opinion of Counsel from such Counsel shall be full
and complete authorization and protection in respect of any action
taken or suffered or omitted by it hereunder in good faith and in
accordance with such Opinion of Counsel;
(iii)The Trustee shall not be personally liable for any
action taken or omitted by it in good faith and reasonably believed
by it to be authorized or within the discretion or rights or powers
conferred upon it by this Agreement;
(iv) Prior to the occurrence of an Event of Default hereunder
and after the curing of all Events of Default which may have
occurred, the Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, consent,
order, approval, bond or other paper or document, unless requested
in writing to do so by the Holders of Certificates evidencing
Percentage Interests aggregating not less than 25% of the Trust
Fund; provided, however, that if the payment within a reasonable
time to the Trustee of the costs, expenses or liabilities likely to
be incurred by it in the making of such investigation is, in the
opinion of the Trustee, not reasonably assured to the Trustee by
the security, if any, afforded to it by the terms of this
Agreement, the Trustee may require reasonable indemnity against
such expense or liability as a condition to proceeding;
(v) The Trustee may execute the trust or any of the powers
hereunder or perform any duties hereunder either directly or by or
through agents or attorneys; and
(vi) The Trustee shall not be deemed to have knowledge or
notice of any matter, including without limitation an Event of
Default, unless actually known by a Responsible Officer, or unless
written notice thereof referencing this Agreement or the
Certificates is received at the Corporate Trust Office at the
address set forth in Section 10.06.
Section 8.03. TRUSTEE NOT LIABLE FOR CERTIFICATES OR MORTGAGE LOANS The
recitals contained herein (other than those relating to the due organization,
power and authority of the Trustee) and in the Certificates (other than the
execution of, and certificate of authentication on, the Certificates) shall be
taken as the statements of the Company and the Trustee assumes no responsibility
for their correctness. The Trustee makes no representations as to the validity
or sufficiency of this Agreement or of the Certificates or any Mortgage Loan.
The Trustee shall not be accountable for the use or application by the Company
of any of the Certificates or of the proceeds of such Certificates, or for the
use or application of any funds paid to the Master Servicer, the Servicers or
the Company in respect of the Mortgage Loans or deposited into the Custodial
Account for P&I, any Buydown Fund Account, or the Custodial Accounts for P&I by
any Servicer or into the Investment Account, or the Certificate Account by the
Master Servicer or the Company.
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Section 8.04. TRUSTEE MAY OWN CERTIFICATES. The Trustee or any agent or
affiliate of the Trustee, in its individual or any other capacity, may become
the owner or pledgee of Certificates with the same rights it would have if it
were not Trustee.
Section 8.05. THE MASTER SERVICER TO PAY TRUSTEE'S FEES AND EXPENSES.
In accordance with a separate written agreement with the Trustee, the
Company, as Master Servicer, covenants and agrees to, and the Master Servicer
shall, pay the Trustee from time to time, and the Trustee shall be entitled
to payment, for all services rendered by it in the execution of the trust
hereby created and in the exercise and performance of any of the powers and
duties hereunder of the Trustee. Except as otherwise expressly provided
herein, the Master Servicer shall pay or reimburse the Trustee upon its
request for all reasonable expenses and disbursements incurred or made by the
Trustee in accordance with any of the provisions of this Agreement and
indemnify the Trustee from any loss, liability or expense incurred by it
hereunder (including the reasonable compensation and the expenses and
disbursements of its counsel and of all persons not regularly in its employ)
except any such expense or disbursement as may arise from its negligence or
bad faith. Such obligation shall survive the termination of this Agreement or
resignation or removal of the Trustee. The Master Servicer shall, at its
expense, prepare or cause to be prepared all federal and state income tax and
franchise tax and information returns relating to the Trust Fund required to
be prepared or filed by the Trustee and shall indemnify the Trustee for any
liability of the Trustee arising from any error in such returns.
Section 8.06. ELIGIBILITY REQUIREMENTS FOR TRUSTEE. The Trustee
hereunder shall at all times be (i) an institution insured by the FDIC, (ii)
a corporation or association organized and doing business under the laws of
the United States of America or of any state, authorized under such laws to
exercise corporate trust powers, having a combined capital and surplus of not
less than $50,000,000 and subject to supervision or examination by federal or
state authority and (iii) acceptable to the Rating Agency and the Certificate
Insurer. If such corporation or association publishes reports of condition at
least annually, pursuant to law or to the requirements of any aforementioned
supervising or examining authority, then for the purposes of this Section
8.06, the combined capital and surplus of such corporation shall be deemed to
be its combined capital and surplus as set forth in its most recent report of
condition so published. In case at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section 8.06, the Trustee
shall resign immediately in the manner and with the effect specified in
Section 8.07.
Section 8.07. RESIGNATION AND REMOVAL OF TRUSTEE. The Trustee may at
any time resign and be discharged from the trust hereby created by giving
written notice thereof to the Master Servicer and the Certificate Insurer.
Upon receiving such notice of resignation, the Master Servicer shall promptly
appoint a successor trustee by written instrument, in duplicate, one copy of
which instrument shall be delivered to the resigning Trustee and one copy to
the successor trustee. If no successor trustee shall have been so appointed
and shall have accepted appointment within 30 days after the giving of such
notice of resignation, the resigning Trustee may petition any court of
competent jurisdiction for the appointment of a successor trustee.
If at any time the Trustee shall cease to be eligible in
accordance with the provisions of Section 8.06 and shall fail to resign after
written request therefor by the Master Servicer, or if at any time the
Trustee shall become incapable of acting, or shall be adjudged
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bankrupt or insolvent, or a receiver of the Trustee or of its property shall
be appointed, or any public officer shall take charge or control of the
Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then the Master Servicer may remove the Trustee
and appoint a successor trustee by written instrument, in duplicate, one copy
of which instrument shall be delivered to the Trustee so removed, one copy to
the successor and one copy to the Certificate Insurer.
Subject to Section 10.03, the Holders of Certificates evidencing
Percentage Interests aggregating more than 50% of the Trust Fund may at any
time remove the Trustee and appoint a successor trustee by written instrument
or instruments, in triplicate, signed by such Holders or their attorneys
in-fact duly authorized, one complete set of which instruments shall be
delivered to the Master Servicer, one complete set to the Trustee so removed
and one complete set to the successor so appointed.
Any resignation or removal of the Trustee and appointment of a
successor trustee pursuant to any of the provisions of this Section 8.07
shall become effective upon acceptance of appointment by the successor
trustee as provided in Section 8.08. As long as the Certificate Insurance
Policy is in effect, the Master Servicer will send a written notice to the
Certificate Insurer of any such resignation, removal or appointment.
Section 8.08. SUCCESSOR TRUSTEE. Any successor trustee appointed as
provided in Section 8.07 shall execute, acknowledge and deliver to the Master
Servicer and to its predecessor trustee an instrument accepting such
appointment hereunder, and thereupon the resignation or removal of the
predecessor trustee shall become effective and such successor trustee,
without any further act, deed or conveyance, shall become fully vested with
all the rights, powers, duties and obligations of its predecessor hereunder,
with like effect as if originally named as Trustee herein. The predecessor
shall deliver to the successor trustee all Mortgage Files, related documents,
statements and all other property held by it hereunder, and the Master
Servicer and the predecessor trustee shall execute and deliver such
instruments and do such other things as may reasonably be required for more
fully and certainly vesting and confirming in the successor trustee all such
rights, powers, duties and obligations.
No successor trustee shall accept appointment as provided in
this Section 8.08 unless at the time of such appointment such successor
trustee shall be eligible under the provisions of Section 8.06.
Upon acceptance of appointment by a successor trustee as
provided in this Section 8.08, the Master Servicer shall mail notice of the
succession of such trustee hereunder to (i) all Certificateholders at their
addresses as shown in the Certificate Register (ii) the Rating Agency and
(iii) the Certificate Insurer. If the Master Servicer fails to mail such
notice within ten days after acceptance of appointment by the successor
trustee, the successor trustee shall cause such notice to be mailed.
Section 8.09. MERGER OR CONSOLIDATION OF TRUSTEE. Any corporation or
association into which the Trustee may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Trustee shall be
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a party, or any corporation succeeding to the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided such
resulting or successor corporation shall be eligible under the provisions of
Section 8.06, without the execution or filing of any paper or any further act
on the part of any of the parties hereto, anything herein to the contrary
notwithstanding.
Section 8.10. APPOINTMENT OF CO-TRUSTEE OR SEPARATE TRUSTEE.
Notwithstanding any other provisions hereof, at any time, for the purpose of
meeting any legal requirements of any jurisdiction in which any part of the
Trust Fund may at the time be located, the Master Servicer and the Trustee
acting jointly (with the consent of the Certificate Insurer) shall have the
power and shall execute and deliver all instruments to appoint one or more
Persons approved by the Trustee to act as co-trustee or co-trustees, jointly
with the Trustee, or separate trustee or separate trustees, of all or any
part of the Trust Fund, and to vest in such Person or Persons, in such
capacity, such title to the Trust Fund, or any part thereof, and, subject to
the other provisions of this Section 8.10, such powers, duties, obligations,
rights and trusts as the Master Servicer and the Trustee may consider
necessary or desirable; provided, that the Trustee shall remain liable for
all of its obligations and duties under this Agreement. If the Master
Servicer shall not have joined in such appointment within 15 days after the
receipt by it of a request so to do, or in case an Event of Default shall
have occurred and be continuing, the Trustee alone (with the consent of the
Certificate Holder) shall have the power to make such appointment; provided,
that the Trustee shall remain liable for all of its obligations and duties
under this Agreement. No co-trustee or separate trustee hereunder shall be
required to meet the terms of eligibility as a successor trustee under
Section 8.06 hereunder and no notice to Certificateholders of the appointment
of co-trustee(s) or separate trustee(s) shall be required under Section 8.08
hereof.
In the case of any appointment of a co-trustee or separate
trustee pursuant to this Section 8.10, all rights, powers, duties and
obligations conferred or imposed upon the Trustee shall be conferred or
imposed upon and exercised or performed by the Trustee and such separate
trustee or co-trustee jointly and severally, except to the extent that under
any law of any jurisdiction in which any particular act or acts are to be
performed by the Trustee (whether as Trustee hereunder or as successor to the
Master Servicer hereunder), the Trustee shall be incompetent or unqualified
to perform such act or acts, in which event such rights, powers, duties and
obligations (including the holding of title to the Trust Fund or any portion
thereof in any such jurisdiction) shall be exercised and performed by such
separate trustee or co-trustee at the direction of the Trustee.
Any notice, request or other writing given to the Trustee shall
be deemed to have been given to each of the then separate trustee(s) and
co-trustee(s), as effectively as if given to each of them. Every instrument
appointing any separate trustee(s) or co-trustee(s) shall refer to this
Agreement and the conditions of this Article VIII. Each separate trustee and
co-trustee, upon its acceptance of the trust conferred, shall be vested with
the estates or property specified in its instrument of appointment, either
jointly with the Trustee or separately, as may be provided therein, subject
to all the provisions of this Agreement, specifically including every
provision of this Agreement relating to the conduct of, affecting the
liability of, or affording protection to, the Trustee. Every such instrument
shall be filed with the Trustee.
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Any separate trustee or co-trustee may, at any time, constitute
the Trustee its agent or attorney-in-fact, with full power and authority, to
the extent not prohibited by law, to do any lawful act under or in respect of
this Agreement on its behalf and in its name. If any separate trustee or
co-trustee shall die, become incapable of acting, resign or be removed, all
of its estates, properties, rights, remedies and the trust shall vest in and
be exercised by the Trustee, to the extent permitted by law, without the
appointment of a new or successor trustee.
Section 8.11. AUTHENTICATING AGENTS. The Trustee may appoint one or
more Authenticating Agents which shall be authorized to act on behalf of the
Trustee in authenticating Certificates. Wherever reference is made in this
Agreement to the authentication of Certificates by the Trustee or the
Trustee's certificate of authentication, such reference shall be deemed to
include authentication on behalf of the Trustee by an Authenticating Agent
and a certificate of authentication executed on behalf of the Trustee by an
Authenticating Agent. Each Authenticating Agent must be acceptable to the
Master Servicer and the Certificate Insurer and must be a corporation or
banking association organized and doing business under the laws of the United
States of America or of any state, having a principal office and place of
business in New York, New York, having a combined capital and surplus of at
least $15,000,000, authorized under such laws to do a trust business and
subject to supervision or examination by federal or state authorities.
Any corporation into which any Authenticating Agent may be
merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which any
Authenticating Agent shall be a party, or any corporation succeeding to the
corporate agency business of any Authenticating Agent, shall continue to be
the Authenticating Agent so long as it shall be eligible in accordance with
the provisions of the first paragraph of this Section 8.11 without the
execution or filing of any paper or any further act on the part of the
Trustee or the Authenticating Agent.
Any Authenticating Agent may at any time resign by giving
written notice of resignation to the Trustee, the Certificate Insurer and to
the Master Servicer. The Trustee may, upon prior written approval of the
Master Servicer and the Certificate Insurer, at any time terminate the agency
of any Authenticating Agent by giving written notice of termination to such
Authenticating Agent and to the Master Servicer. Upon receiving a notice of
resignation or upon such a termination, or in case at any time any
Authenticating Agent shall cease to be eligible in accordance with the
provisions of the first paragraph of this Section 8.11, the Trustee may
appoint, upon prior written approval of the Master Servicer and the
Certificate Insurer, a successor Authenticating Agent, shall give written
notice of such appointment to the Master Servicer and shall mail notice of
such appointment to all Certificateholders. Any successor Authenticating
Agent upon acceptance of its appointment hereunder shall become vested with
all the rights, powers, duties and responsibilities of its predecessor
hereunder, with like effect as if originally named as Authenticating Agent.
Any reasonable compensation paid to an Authenticating Agent shall be a
reimbursable expense pursuant to Section 8.05 if paid by the Trustee.
Section 8.12. PAYING AGENTS. The Trustee may appoint one or more Paying
Agents which shall be authorized to act on behalf of the Trustee in making
withdrawals from the
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Certificate Account, and distributions to Certificateholders as provided in
Section 4.01(a) and Section 9.01(b) to the extent directed to do so by the
Master Servicer. Wherever reference is made in this Agreement to the
withdrawal from the Certificate Account by the Trustee, such reference shall
be deemed to include such a withdrawal on behalf of the Trustee by a Paying
Agent. Whenever reference is made in this Agreement to a distribution by the
Trustee or the furnishing of a statement to Certificateholders by the
Trustee, such reference shall be deemed to include such a distribution or
furnishing on behalf of the Trustee by a Paying Agent. Each Paying Agent
shall provide to the Trustee or the Certificate Insurer such information
concerning the Certificate Account as the Trustee or the Certificate Insurer
shall request from time to time. Each Paying Agent must be reasonably
acceptable to the Master Servicer and the Certificate Insurer and must be a
corporation or banking association organized and doing business under the
laws of the United States of America or of any state, having a principal
office and place of business in New York, New York, having a combined capital
and surplus of at least $15,000,000, authorized under such laws to do a trust
business and subject to supervision or examination by federal or state
authorities.
Any corporation into which any Paying Agent may be merged or
converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which any Paying Agent shall
be a party, or any corporation succeeding to the corporate agency business of
any Paying Agent, shall continue to be the Paying Agent provided that such
corporation after the consummation of such merger, conversion, consolidation
or succession meets the eligibility requirements of this Section 8.12.
Any Paying Agent may at any time resign by giving written notice
of resignation to the Trustee and to the Master Servicer and to the
Certificate Insurer; provided, that the Paying Agent has returned to the
Certificate Account or otherwise accounted, to the reasonable satisfaction of
the Master Servicer, for all amounts it has withdrawn from the Certificate
Account. The Trustee may, upon prior written approval of the Master Servicer
and the Certificate Insurer, at any time terminate the agency of any Paying
Agent by giving written notice of termination to such Paying Agent and to the
Master Servicer. Upon receiving a notice of resignation or upon such a
termination, or in case at any time any Paying Agent shall cease to be
eligible in accordance with the provisions of the first paragraph of this
Section 8.12, the Trustee may appoint, upon prior written approval of the
Master Servicer and the Certificate Insurer, a successor Paying Agent, shall
give written notice of such appointment to the Master Servicer and shall mail
notice of such appointment to all Certificateholders. Any successor Paying
Agent upon acceptance of its appointment hereunder shall become vested with
all the rights, powers, duties and responsibilities of its predecessor
hereunder, with like effect as if originally named as Paying Agent. Any
reasonable compensation paid to any Paying Agent shall be a reimbursable
expense pursuant to Section 8.05 if paid by the Trustee.
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ARTICLE IX
Termination
Section 9.01. TERMINATION UPON REPURCHASE BY THE COMPANY OR LIQUIDATION
OF ALL MORTGAGE LOANS.
(a) Except as otherwise set forth in this Article IX,
including, without limitation, the obligation of the Master Servicer to make
payments to Certificateholders in respect of Certificates related to a Loan
Group as hereafter set forth, the respective obligations and responsibilities
created hereby of the Company, the Master Servicer and the Trustee related to
such Loan Group and the related REMIC shall terminate upon (i) the repurchase
by the Company pursuant to the following paragraph of this Section 9.01(a) of
all Mortgage Loans in such Loan Group and all property acquired in respect of
any Mortgage Loan in such Loan Group remaining in the Trust Fund at a price
equal, after the deduction of related advances, to the sum of (x) the excess
of (A) 100% of the aggregate outstanding Principal Balance of the Mortgage
Loans in such Loan Group (other than Liquidated Mortgage Loans) plus accrued
interest at the applicable Mortgage Interest Rate less the Master Servicing
Fee and the Servicing Fee with respect to such Mortgage Loan (other than a
Liquidated Mortgage Loan) through the last day of the month of such
repurchase, over (B) with respect to any Mortgage Loan in such Loan Group
which is not a Liquidated Mortgage Loan, the amount of the Bankruptcy Loss
incurred with respect to such Mortgage Loan as of the date of such repurchase
by the Company to the extent that the Principal Balance of such Mortgage Loan
has not been previously reduced by such Bankruptcy Loss, and (y) the
appraised fair market value as of the effective date of the purchase of the
Mortgage Loans in such Loan Group of (A) all property in the Trust Fund which
secured a Mortgage Loan in such Loan Group and which was acquired by
foreclosure or deed in lieu of foreclosure after the Cut-Off Date, including
related Insurance Proceeds, and (B) all other property in the Trust Fund
related to the Mortgage Loans in such Loan Group, any such appraisal to be
conducted by an appraiser mutually agreed upon by the Company, the
Certificate Insurer and the Trustee, or (ii) the later of the final payment
or other liquidation (or any advance with respect thereto) of the last
Mortgage Loan in such Loan Group remaining in the Trust Fund or the
disposition of all property acquired upon foreclosure in respect of any
Mortgage Loan in such Loan Group, the payment to the related
Certificateholders of all amounts required to be paid to them hereunder and
(unless the assets of the Trust Fund have been reduced to zero) the payment
to the Certificate Insurer of all amounts due to it hereunder or under the
Insurance Agreement. Upon the repurchase of the outstanding Mortgage Loans
in either Loan Group, as set forth in this Section 9.01, the related REMIC
shall be terminated. Upon the repurchase by the Company of the outstanding
Mortgage Loans in both Loan Groups, as set forth in this Section 9.01 and the
distribution of the purchase price in accordance with this Agreement, the
Trust Fund shall be terminated; provided, however, that in no event shall the
trust created hereby continue beyond the expiration of 21 years from the
death of the survivor of the issue of Joseph P. Kennedy, the late ambassador
of the United States to the Court of St. James, living on the date hereof.
The Company may repurchase the outstanding Mortgage Loans in a
Loan Group and any Mortgaged Properties related to such Mortgage Loans
acquired by the Trust Fund at the price stated in clause (i) of the preceding
paragraph provided that the aggregate Principal Balance
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of the Mortgage Loans in such Loan Group at the time of any such repurchase
aggregates less than ten percent of the aggregate Principal Balance of the
Mortgage Loans in such Loan Group as of the Cut-Off Date. If such right is
exercised, the Company shall provide to the Trustee and the Certificate
Insurer (and to the Master Servicer, if the Company is no longer acting as
Master Servicer) the written certification of an officer of the Company
(which certification shall include a statement to the effect that all amounts
required to be paid in order to repurchase the Mortgage Loans in such Loan
Group have been deposited in the Certificate Account) and the Trustee shall
promptly execute all instruments as may be necessary to release and assign to
the Company the Mortgage Files related to such Mortgage Loans and any
foreclosed Mortgaged Property related to such Mortgage Loans pertaining to
the Trust Fund.
In no event shall the Company be required to expend any amounts
other than those described in the first paragraph of this Section 9.01(a) in
order to terminate the Trust Fund or repurchase the Mortgage Loans in either
Loan Group under this Section 9.01.
(b) Notice of the purchase of the Mortgage Loans and related
property in either Loan Group, specifying the date upon which the related
Certificateholders may surrender their Certificates to the Trustee for
payment and cancellation, shall be given promptly by letter from the Trustee
to the applicable Certificateholders mailed not less than 30 days prior to
such final distribution, specifying (i) the date upon which final payment of
the Certificates will be made upon presentation and surrender of Certificates
at the office of the Certificate Registrar therein designated (the
"Termination Date"), (ii) the amount of such final payment (the "Termination
Payment") and (iii) that the Record Date otherwise applicable to the
Distribution Date upon which the Termination Date occurs is not applicable,
payments being made only upon presentation and surrender of the Certificates
at the office of the Certificate Registrar therein specified. The Trustee
shall hold all amounts payable to Certificateholders in trust without
interest pending such payment.
In the event that all of the applicable Certificateholders shall
not surrender their Certificates for cancellation within six months after the
Termination Date, the Trustee shall give a second written notice to the
remaining Certificateholders to surrender their Certificates for cancellation
and receive the Termination Payment with respect thereto. If within one year
after the second notice all the Certificates shall not have been surrendered
for cancellation, the Company may take appropriate steps to contact the
remaining Certificateholders concerning surrender of their Certificates, and
the cost thereof shall be paid out of the funds and other assets which remain
in trust for those Certificateholders hereunder and the Certificate Insurer
shall have no further liability with respect to such Certificates.
Section 9.02. ADDITIONAL TERMINATION REQUIREMENTS.
(a) In the event the Company exercises its purchase option with
respect to both Loan Groups as provided in Section 9.01, the Trust Fund shall
be terminated in accordance with the following additional requirements,
unless the Trustee and the Certificate Insurer shall have received an Opinion
of Counsel to the effect that the failure of the Trust Fund to comply with
the requirements of this Section 9.02 will not (i) result in the imposition
of taxes on "prohibited
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transactions" of the Trust Fund as described in Section 860F of the Code, or
(ii) cause the Trust Fund to fail to qualify as a REMIC at any time that any
Certificates are outstanding:
(i) Within 90 days prior to the final Distribution Date for
the final Loan Group set forth in the notice given by the Trustee
under Section 9.01, the Company, in its capacity as agent of the
Tax Matters Person shall prepare the documentation required and
adopt a plan of complete liquidation on behalf of the Trust Fund
meeting the requirements of a qualified liquidation under Section
860F of the Code and any regulations thereunder, as evidenced by an
Opinion of Counsel, on behalf of the Trust Fund; and
(ii) At or after the time of adoption of such a plan of
complete liquidation and at or prior to the final Distribution
Date, the Master Servicer as agent of the Trustee shall sell all of
the assets of the Trust Fund to the Company for cash in the amount
specified in Section 9.01; provided, however, that in the event
that a calendar quarter ends after the time of adoption of such a
plan of complete liquidation but prior to the final Distribution
Date, the Master Servicer shall not sell any of the assets of the
Trust Fund prior to the close of that calendar quarter.
(b) By its acceptance of any Residual Certificate, the Holder
thereof hereby agrees to authorize the Company to adopt such a plan of
complete liquidation upon the written request of the Company and to take such
other action in connection therewith as may be reasonably requested by the
Company.
Section 9.03. TRUST IRREVOCABLE. Except as expressly provided herein,
the trust created hereby is irrevocable.
ARTICLE X
MISCELLANEOUS PROVISIONS
Section 10.01. AMENDMENT.
(a) This Agreement may be amended from time to time by the
Company and the Trustee, without the consent of any of the Certificateholders
(but subject to the consent of the Certificate Insurer), (i) to cure any
ambiguity; (ii) to correct or supplement any provision herein which may be
defective or inconsistent with any other provisions herein; (iii) to comply
with any requirements imposed by the Code or any regulations thereunder; (iv)
to correct the description of any property at any time included in the Trust
Fund, or to assure the conveyance to the Trustee of any property included in
the Trust Fund; and (v) pursuant to Section 5.01(c)(v). No such amendment
(other than one entered into pursuant to clause (iii) of the preceding
sentence) shall adversely affect in any material respect the interest of any
Certificateholder. Prior to entering into any amendment without the consent
of Certificateholders pursuant to this paragraph, the Trustee may require an
Opinion of Counsel to the effect that such amendment is permitted under this
paragraph. The placement of an "original issue discount" legend on, or any
change required to
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correct any such legend previously place on, a Certificate shall not be
deemed any amendment to this Agreement.
(b) This Agreement may also be amended from time to time by the
Company and the Trustee with the consent of the Certificate Insurer and the
Holders of Certificates evidencing Percentage Interests aggregating not less
than 66% of the Trust Fund for the purpose of adding any provisions to, or
changing in any manner or eliminating any of the provisions of, this
Agreement or of modifying in any manner the rights of the Certificateholders;
provided, however, that no such amendment shall, without the consent of the
Certificate Insurer and the Holder of each Certificate affected thereby (i)
reduce in any manner the amount of, or delay the timing of, distributions of
principal or interest required to be made hereunder or reduce the
Certificateholder's Percentage Interest, the Remittance Rate or the
Termination Payment with respect to any of the Certificates, (ii) reduce the
percentage of Percentage Interests specified in this Section 10.01 which are
required to amend this Agreement, (iii) create or permit the creation of any
lien against any part of the Trust Fund, or (iv) modify any provision in any
way which would permit an earlier retirement of the Certificates.
Promptly after the execution of any such amendment, the Trustee
shall furnish written notification of the substance of such amendment to the
Certificate Insurer and each Certificateholder. Any failure to provide such
notice, or any defect therein, shall not, however, in any way impair or
affect the validity of any such amendment.
It shall not be necessary for the consent of Certificateholders
under this Section 10.01 to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent shall approve the
substance thereof. The manner of obtaining such consents and of evidencing
the authorization of the execution thereof by Certificateholders shall be
subject to such reasonable regulations as the Trustee may prescribe.
Section 10.02. RECORDATION OF AGREEMENT. To the extent permitted by
applicable law, this Agreement is subject to recordation in all appropriate
public offices for real property records in all the counties or the
comparable jurisdictions in which any Mortgaged Property is situated, and in
any other appropriate public recording office or elsewhere, such recordation
to be effected by the Company and at its expense on direction by the Trustee,
but only upon direction accompanied by an Opinion of Counsel to the effect
that such recordation materially and beneficially affects the interests of
the Certificateholders.
Section 10.03. LIMITATION ON RIGHTS OF CERTIFICATEHOLDERS. The death or
incapacity of any Certificateholder shall not operate to terminate this
Agreement or the Trust Fund, nor entitle such Certificateholder's legal
representatives or heirs to claim an accounting or to take any action or
proceeding in any court for a partition or winding-up of the Trust Fund, nor
otherwise affect the rights, obligations and liabilities of the parties
hereto or any of them.
No Certificateholder shall have any right to vote or in any
manner otherwise to control the operation and management of the Trust Fund or
the obligations of the parties hereto (except as provided in Section 5.09,
Section 7.01, Section 8.01, Section 8.02, Section 8.07, Section 10.01 and
this Section 10.03), nor shall anything herein set forth, or contained in the
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terms of the Certificates, be construed so as to constitute the
Certificateholders from time to time as partners or members of an
association; nor shall any Certificateholder be under any liability to any
third person by reason of any action taken by the parties to this Agreement
pursuant to any provision hereof.
No Certificateholder shall have any right by virtue or by
availing of any provision of this Agreement to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this
Agreement, unless such Holder previously shall have given to the Trustee a
written notice of default and of the continuance thereof, as hereinbefore
provided, and unless also the Holders of Certificates evidencing Percentage
Interests aggregating not less than 25% of the Trust Fund shall have made
written request upon the Trustee to institute such action, suit or proceeding
in its own name as Trustee hereunder and shall have offered to the Trustee
such reasonable indemnity as it may require against the costs, expenses and
liabilities to be incurred therein or thereby, and the Trustee, for 60 days
after its receipt of such notice, request and offer of indemnity, shall have
neglected or refused to institute any such action, suit or proceeding.
However, the Trustee is under no obligation to exercise any of the
extraordinary trusts or powers vested in it by this Agreement or to make any
investigation of matters arising hereunder or to institute, conduct or defend
any litigation hereunder or in relation hereto at the request, order or
direction of any of the Certificateholders unless such Certificateholders
have offered to the Trustee reasonable security or indemnity against the
costs, expenses and liabilities which may be incurred therein or thereby. It
is understood and intended, and expressly covenanted by each
Certificateholder with every other Certificateholder and the Trustee, that no
one or more Holders of Certificates shall have any right in any manner
whatever by virtue or by availing of any provision of this Agreement to
affect, disturb or prejudice the rights of the Holders of any other of such
Certificates, or to obtain or seek to obtain priority over or preference to
any other such Holder, or to enforce any right under this Agreement, except
in the manner herein provided and for the equal, ratable and common benefit
of all Certificateholders. For the protection and enforcement of the
provisions of this Section 10.03, each and every Certificateholder and the
Trustee shall be entitled to such relief as can be given either at law or in
equity.
For so long as no Certificate Insurer Default exists, the
Certificate Insurer shall be deemed to be the sole Holder of all outstanding
Insured Certificates with respect to any rights hereunder (other than the
right to receive distributions on such Insured Certificates, except as
provided in Section 3.16(c)) and the Holders of the Insured Certificates may
not exercise such rights without the prior written consent of the Certificate
Insurer; provided that such rights may not be used to reduce the rights of
the Insured Certificateholders to receive distributions or to otherwise
impair their rights under this Agreement as further described in the
definition of "Certificateholder." The conditions set forth in the preceding
paragraph to actions by Certificateholders (except with respect to
indemnification of the Trustee) shall not apply to the Certificate Insurer
while the Certificate Insurer is exercising the actions of the
Certificateholders.
Section 10.04. ACCESS TO LIST OF CERTIFICATEHOLDERS. The Certificate
Registrar shall furnish or cause to be furnished to the Trustee, within 30
days after receipt of a request by the Trustee in writing, a list, in such
form as the Trustee may reasonably require, of the names and addresses of the
Certificateholders as of the most recent Record Date for payment of
distributions to such Certificateholders.
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If three or more Certificateholders (hereinafter referred to as
"applicants") apply in writing to the Trustee, and such application states
that the applicants desire to communicate with other Certificateholders with
respect to their rights under this Agreement or under the Certificates and is
accompanied by a copy of the communication which such applicants propose to
transmit, then the Trustee shall, within five Business Days after the receipt
of such list from the Certificate Registrar, afford such applicants access
during normal business hours to the most recent list of Certificateholders
held by the Trustee. If such a list is as of a date more than 90 days prior
to the date of receipt of such applicants' request, the Trustee shall
promptly request from the Certificate Registrar a current list as provided
above, and shall afford such applicants access to such list promptly upon
receipt.
Every Certificateholder, by receiving and holding the same, agrees
with the Master Servicer and the Trustee that neither the Master Servicer nor
the Trustee shall be held accountable by reason of the disclosure of any such
information as to the names and addresses of the Certificateholders
hereunder, regardless of the source from which such information was derived.
Section 10.05. GOVERNING LAW. This Agreement shall be construed in
accordance with the laws of the State of New York and the obligations, rights
and remedies of the parties hereunder shall be determined in accordance with
such laws.
Section 10.06. NOTICES. All demands, notices and communications
hereunder shall be in writing and shall be deemed to have been duly given if
personally delivered at or mailed by registered or certified mail to (a) in
the case of the Company, 75 North Fairway Drive, Vernon Hills, Illinois
60061, Attention: General Counsel (with a copy directed to the attention of
the Master Servicing Department) or such other address as may hereafter be
furnished to the Trustee in writing by the Company, (b) in the case of the
Master Servicer, 75 North Fairway Drive, Vernon Hills, Illinois 60061,
Attention: General Counsel (with a copy directed to the attention of the
Master Servicing Department) or such other address as may hereafter be
furnished to the Trustee in writing by the Master Servicer, (c) in the case
of the Bank, 5th Avenue & Wood Streets, 26th Floor, Pittsburgh, PA 15265,
attention: Michael Goeller, or such other address as may hereafter be
furnished to the Master Servicer and the Trustee in writing by the Bank, (d)
in the case of the Trustee, at its Corporate Trust Office, or such other
address as may hereafter be furnished to the Master Servicer in writing by
the Trustee, (e) in the case of the Certificate Registrar, at its Corporate
Trust Office, or such other address as may hereafter be furnished to the
Trustee in writing by the Certificate Registrar, (f) in the case of Moody's
Investors Service, Inc., 99 Church Street, New York, New York 10007,
Attention: Residential MBS Monitoring, or such other address as may
hereafter be furnished to the Trustee and Master Servicer in writing by
Moody's, (g) in the case of S&P, 26 Broadway, 15th Floor, New York, New York
10004, Attention: Frank Raiter, or such other address as may hereafter be
furnished to the Trustee and Master Servicer in writing by S&P and (h) in the
case of the Certificate Insurer, to MBIA Insurance Corporation, 113 King
Street, Armonk, New York, 10504, Attention: Insured Portfolio
Management-Structured Finance (IPM-SF) or such other address as may hereafter
be furnished to the Trustee and the Master Servicer in writing by the
Certificate Insurer. Notices to the Rating Agency shall also be deemed to
have been duly given if mailed by first class mail, postage prepaid, to the
above listed addresses of the Rating Agency. Any notice required or
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permitted to be mailed to a Certificateholder shall be given by first class
mail, postage prepaid, at the address of such Holder as shown in the
Certificate Register. Any notice so mailed within the time prescribed in this
Agreement shall be conclusively presumed to have been duly given, whether or
not the Certificateholder receives such notice.
Section 10.07. SEVERABILITY OF PROVISIONS. If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall be for any
reason whatsoever held invalid, then such covenants, agreements, provisions
or terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Agreement and shall in no way affect the validity
or enforceability of the other provisions of this Agreement or of the
Certificates or the rights of the Holders thereof.
Section 10.08. COUNTERPART SIGNATURES. For the purpose of facilitating
the recordation of this Agreement as herein provided and for other purposes,
this Agreement may be executed simultaneously in any number of counterparts,
each of which counterparts shall be deemed to be an original, and such
counterparts shall constitute but one and the same instrument.
Section 10.09. BENEFITS OF AGREEMENT. Nothing in this Agreement or in
any Certificate, expressed or implied, shall give to any Person, other than
the parties hereto and their respective successors hereunder, any separate
trustee or co-trustee appointed under Section 8.10, the Certificate Insurer
and the Certificateholders, any benefit or any legal or equitable right,
remedy or claim under this Agreement. The Certificate Insurer shall be a
third party beneficiary of this Agreement and shall be entitled to enforce
the provisions hereof as if a party hereto.
Section 10.10. NOTICES AND COPIES TO RATING AGENCY.
(a) The Trustee shall notify the Rating Agency (with a copy to the
Certificate Insurer) of the occurrence of any of the following events, in the
manner provided in Section 10.06:
(i) the occurrence of an Event of Default pursuant to
Section 7.01, subject to the provisions of Section 8.01(d);
(ii) the appointment of a successor Master Servicer
pursuant to Section 7.02;
(b) The Master Servicer shall notify the Rating Agency (with a
copy to the Certificate Insurer) of the occurrence of any of the following
events, in the manner provided in Section 10.06:
(i) any amendment of this Agreement pursuant to Section
10.01;
(ii) the appointment of a successor Trustee pursuant to
Section 8.08;
(iii) the filing of any claim under or the cancellation or
modification of any fidelity bond and errors and omissions coverage
pursuant to Section 3.01 and Section 3.06 with respect to the
Master Servicer or any Servicer;
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(iv) any change in the location of the Certificate
Account, any Custodial Account for P&I or any Custodial Account for
Reserves;
(v) the repurchase of any Mortgage Loan pursuant to a
Purchase Obligation or the repurchase of the outstanding Mortgage
Loans pursuant to Section 9.01;
(vi) the occurrence of the final Distribution Date or the
termination of the trust pursuant to Section 9.01(a)(ii);
(vii) the failure of the Master Servicer to make a Monthly
P&I Advance following a determination on the Determination Date
that the Master Servicer would make such advance pursuant to
Section 4.03;
(viii) the failure of the Master Servicer to make a
determination on the Determination Date regarding whether it would
make a Monthly P&I Advance when a shortfall exists between (x)
payments scheduled to be received in respect of the Mortgage Loans
and (y) the amounts actually deposited in the Certificate Account
on account of such payments, pursuant to Section 4.03; and
(ix) the exercise of the Clean-Up Option or the
Certificate Insurer Clean-Up Option.
(c) The Master Servicer shall provide copies of the statements
pursuant to Section 4.02, Section 3.13 or Section 3.15 or any other
statements to the Rating Agency (with a copy to the Certificate Insurer) in
such time and manner that such statements or determinations are required to
be provided to Certificateholders. With respect to the reports described in
the second paragraph of Section 4.02, the Master Servicer shall provide such
reports to the Rating Agency (with a copy to the Certificate Insurer) in
respect of each Distribution Date, without regard to whether any
Certificateholder or the Trustee has requested such report for such
Distribution Date.
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IN WITNESS WHEREOF, the Company and the Trustee have caused their
names to be signed hereto by their respective officers, thereunto duly
authorized, and their respective seals, duly attested, to be hereunto
affixed, all as of the day and year first above written.
PNC MORTGAGE SECURITIES CORP.
(SEAL)
By:__________________________________
Attest:
Its:
U.S BANK NATIONAL ASSOCIATION, as
TRUSTEE
By:__________________________________
Its:
PNC BANK, NATIONAL ASSOCATION
By:_____________________________
Its:
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ACKNOWLEDGEMENT OF CORPORATION
STATE OF ILLINOIS )
) SS.
COUNTY OF LAKE )
On this ___ day of September, 1997 before me, a Notary Public in
and for said State, personally appeared _________________________, known to
me to be the ______________________________ of PNC MORTGAGE SECURITIES CORP.,
one of the corporations that executed the within interest, and also known to
me to be the person who executed it on behalf of said Corporation, and
acknowledged to me that such corporation executed the within instrument
pursuant to its By-Laws or a resolution of its Board of Directors.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
official seal the day and year in the certificate first above written.
____________________________________
Notary Public
(SEAL)
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CERTIFICATE OF ACKNOWLEDGEMENT
STATE OF MINNESOTA )
) SS.
COUNTY OF ___________ )
On this ____ day of September, 1997 before me, a Notary Public in
and for said State, personally appeared ___________________________,
personally known to me (or proved to me on the basis of satisfactory
evidence) to be the person(s) whose name(s) is/are subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of
which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature ______________________________________ (SEAL)
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<PAGE>
CERTIFICATE OF ACKNOWLEDGEMENT
STATE OF PENNSYLVANIA )
) SS.
COUNTY OF ___________ )
On this ____ day of September, 1997 before me, a Notary
Public in and for said State, personally appeared ____________________,
personally known to me (or proved to me on the basis of satisfactory
evidence) to be the person(s) whose name(s) is/are subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of
which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature ______________________________________ (SEAL)
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TABLE OF CONTENTS
Page
ARTICLE I
SECTION 1.01. DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . 3
Accrued Certificate Target Rate Interest. . . . . . . . . . . . . . . . 4
Adjustment Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Aggregate Certificate Principal Balance . . . . . . . . . . . . . . . . 4
Appraised Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Authenticating Agent. . . . . . . . . . . . . . . . . . . . . . . . . . 4
Authorized Denomination . . . . . . . . . . . . . . . . . . . . . . . . 4
Available Amount. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Available Distribution Amount . . . . . . . . . . . . . . . . . . . . . 4
Bankruptcy Coverage . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Bankruptcy Coverage Initial Amount. . . . . . . . . . . . . . . . . . . 6
Bankruptcy Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Beneficial Holder . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Book-Entry Certificates . . . . . . . . . . . . . . . . . . . . . . . . 6
Business Day. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Buydown Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Buydown Fund. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Buydown Fund Account. . . . . . . . . . . . . . . . . . . . . . . . . . 6
Buydown Loan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Certificate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Certificate Account . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Certificate Distribution Amount . . . . . . . . . . . . . . . . . . . . 7
Certificate Insurance Policy. . . . . . . . . . . . . . . . . . . . . . 8
Certificate Insurer . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Certificate Insurer Clean-Up Option . . . . . . . . . . . . . . . . . . 8
Certificate Insurer Default . . . . . . . . . . . . . . . . . . . . . . 9
Certificate Insurer Reimbursement Amount. . . . . . . . . . . . . . . . 9
Certificate Principal Balance . . . . . . . . . . . . . . . . . . . . . 9
Certificate Register and Certificate Registrar. . . . . . . . . . . . . 9
Certificateholder or Holder . . . . . . . . . . . . . . . . . . . . . . 9
Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10
Class A Certificates. . . . . . . . . . . . . . . . . . . . . . . . . .10
Class I-A Certificates. . . . . . . . . . . . . . . . . . . . . . . . .10
Class I-A Reserve Fund. . . . . . . . . . . . . . . . . . . . . . . . .10
Class I-A Reserve Fund Initial Amount . . . . . . . . . . . . . . . . .10
Class II-A Certificates . . . . . . . . . . . . . . . . . . . . . . . .10
Class I-R Certificates. . . . . . . . . . . . . . . . . . . . . . . . .10
Class II-R Certificates . . . . . . . . . . . . . . . . . . . . . . . .11
Class II-A Reserve Fund . . . . . . . . . . . . . . . . . . . . . . . .11
Class II-A Reserve Fund Initial Amount. . . . . . . . . . . . . . . . .11
Class Principal Balance . . . . . . . . . . . . . . . . . . . . . . . .11
Class R Certificates. . . . . . . . . . . . . . . . . . . . . . . . . .11
Clean-Up Option . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
Clean-Up Purchase Price . . . . . . . . . . . . . . . . . . . . . . . .12
Clearing Agency . . . . . . . . . . . . . . . . . . . . . . . . . . . .12
Closing Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12
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TABLE OF CONTENTS
Page
Code. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12
Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12
Compensating Interest . . . . . . . . . . . . . . . . . . . . . . . . .12
Corporate Trust Office. . . . . . . . . . . . . . . . . . . . . . . . .12
Curtailment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12
Curtailment Shortfall . . . . . . . . . . . . . . . . . . . . . . . . .12
Custodial Account for P&I . . . . . . . . . . . . . . . . . . . . . . .12
Custodial Account for Reserves. . . . . . . . . . . . . . . . . . . . .13
Custodial Agreement . . . . . . . . . . . . . . . . . . . . . . . . . .13
Custodian . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13
Cut-Off Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13
Deficiency Amount . . . . . . . . . . . . . . . . . . . . . . . . . . .13
Definitive Certificates . . . . . . . . . . . . . . . . . . . . . . . .14
Depositary Agreement. . . . . . . . . . . . . . . . . . . . . . . . . .14
Destroyed Mortgage Note . . . . . . . . . . . . . . . . . . . . . . . .14
Determination Date. . . . . . . . . . . . . . . . . . . . . . . . . . .14
Disqualified Organization . . . . . . . . . . . . . . . . . . . . . . .14
Distribution Date . . . . . . . . . . . . . . . . . . . . . . . . . . .14
DTC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
DTC Participant . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
Due Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
Eligible Institution. . . . . . . . . . . . . . . . . . . . . . . . . .14
Eligible Investments. . . . . . . . . . . . . . . . . . . . . . . . . .15
ERISA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16
Event of Default. . . . . . . . . . . . . . . . . . . . . . . . . . . .16
Excess Compensating Interest. . . . . . . . . . . . . . . . . . . . . .16
Excess Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . .16
Excess Interest Amount. . . . . . . . . . . . . . . . . . . . . . . . .17
Excess Liquidation Proceeds . . . . . . . . . . . . . . . . . . . . . .17
FDIC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17
FHA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17
FHLB. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17
FHLMC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17
FNMA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17
Fraud Coverage. . . . . . . . . . . . . . . . . . . . . . . . . . . . .17
Fraud Coverage Initial Amount . . . . . . . . . . . . . . . . . . . . .18
Fraud Loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18
Gross Amount. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18
Gross Fees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18
Gross Margin. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18
Group I Bankruptcy Coverage Initial Amount. . . . . . . . . . . . . . .18
Group I Certificates. . . . . . . . . . . . . . . . . . . . . . . . . .18
Group I Fraud Coverage Initial Amount . . . . . . . . . . . . . . . . .18
Group I Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18
Group I Put Date. . . . . . . . . . . . . . . . . . . . . . . . . . . .18
Group I Special Hazard Coverage Initial Amount. . . . . . . . . . . . .18
Group II Bankruptcy Coverage Initial Amount . . . . . . . . . . . . . .18
Group II Certificates . . . . . . . . . . . . . . . . . . . . . . . . .18
Group II Fraud Coverage Initial Amount. . . . . . . . . . . . . . . . .18
Group II Loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . .19
Group II Put Date . . . . . . . . . . . . . . . . . . . . . . . . . . .19
Group II Special Hazard Coverage Initial Amount . . . . . . . . . . . .19
- ii-
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TABLE OF CONTENTS
Page
Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19
Indirect DTC Participants . . . . . . . . . . . . . . . . . . . . . . .19
Insurance Agreement . . . . . . . . . . . . . . . . . . . . . . . . . .19
Insurance Proceeds. . . . . . . . . . . . . . . . . . . . . . . . . . .19
Insured Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . .19
Insured Certificates. . . . . . . . . . . . . . . . . . . . . . . . . .19
Interest Distribution Amount. . . . . . . . . . . . . . . . . . . . . .19
Interest Shortfall. . . . . . . . . . . . . . . . . . . . . . . . . . .20
Investment Account. . . . . . . . . . . . . . . . . . . . . . . . . . .20
Investment Depository . . . . . . . . . . . . . . . . . . . . . . . . .20
Last Scheduled Distribution Date. . . . . . . . . . . . . . . . . . . .20
Late Remittances. . . . . . . . . . . . . . . . . . . . . . . . . . . .20
Lender. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20
Liquidated Mortgage Loan. . . . . . . . . . . . . . . . . . . . . . . .20
Liquidation Principal . . . . . . . . . . . . . . . . . . . . . . . . .20
Liquidation Proceeds. . . . . . . . . . . . . . . . . . . . . . . . . .21
Loan Group. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
Loan Group I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
Loan Group II . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
Loan-to-Value Ratio . . . . . . . . . . . . . . . . . . . . . . . . . .21
Master Servicer . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
Master Servicing Amount . . . . . . . . . . . . . . . . . . . . . . . .21
Master Servicing Fee. . . . . . . . . . . . . . . . . . . . . . . . . .21
Monthly Interest Payment. . . . . . . . . . . . . . . . . . . . . . . .21
Monthly P&I Advance . . . . . . . . . . . . . . . . . . . . . . . . . .21
Monthly Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
Moody's . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
Mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
Mortgage File . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
Mortgage Interest Rate. . . . . . . . . . . . . . . . . . . . . . . . .23
Mortgage Loan Schedule. . . . . . . . . . . . . . . . . . . . . . . . .23
Mortgage Loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . .23
Mortgage Note . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
Mortgage Pool . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
Mortgaged Property. . . . . . . . . . . . . . . . . . . . . . . . . . .24
Mortgagor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
Nonrecoverable Advance. . . . . . . . . . . . . . . . . . . . . . . . .24
Non-U.S. Person . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
Notice. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
OTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
Officer's Certificate . . . . . . . . . . . . . . . . . . . . . . . . .24
Opinion of Counsel. . . . . . . . . . . . . . . . . . . . . . . . . . .24
Original Value. . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
Owner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
Ownership Interest. . . . . . . . . . . . . . . . . . . . . . . . . . .25
Pass-Through Entity . . . . . . . . . . . . . . . . . . . . . . . . . .25
Pass-Through Rate . . . . . . . . . . . . . . . . . . . . . . . . . . .25
Paying Agent. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25
Payoff. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25
Payoff Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . .25
Payoff Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . .25
Payoff Period . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25
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TABLE OF CONTENTS
Page
Percentage Interest . . . . . . . . . . . . . . . . . . . . . . . . . .25
Periodic Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25
Permitted Transferee. . . . . . . . . . . . . . . . . . . . . . . . . .26
Person. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26
Preference Amount . . . . . . . . . . . . . . . . . . . . . . . . . . .26
Premium Amount. . . . . . . . . . . . . . . . . . . . . . . . . . . . .26
Premium Payment Rate. . . . . . . . . . . . . . . . . . . . . . . . . .26
Prepaid Monthly Payment . . . . . . . . . . . . . . . . . . . . . . . .26
Primary Insurance Policy. . . . . . . . . . . . . . . . . . . . . . . .27
Principal Balance . . . . . . . . . . . . . . . . . . . . . . . . . . .27
Principal Payment . . . . . . . . . . . . . . . . . . . . . . . . . . .27
Principal Payment Amount. . . . . . . . . . . . . . . . . . . . . . . .27
Principal Prepayment. . . . . . . . . . . . . . . . . . . . . . . . . .27
Principal Prepayment Amount . . . . . . . . . . . . . . . . . . . . . .27
Prior Period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .27
Purchase Obligation . . . . . . . . . . . . . . . . . . . . . . . . . .28
Purchase Price. . . . . . . . . . . . . . . . . . . . . . . . . . . . .28
Put Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28
Put Option. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28
Put Purchase Price. . . . . . . . . . . . . . . . . . . . . . . . . . .28
Qualified Insurer . . . . . . . . . . . . . . . . . . . . . . . . . . .28
Rate Ceiling. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28
Rating Agency . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28
Ratings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
Realized Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
Record Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
Related Class A Certificates. . . . . . . . . . . . . . . . . . . . . .29
Related Insured Certificates. . . . . . . . . . . . . . . . . . . . . .29
Related Residual Certificates . . . . . . . . . . . . . . . . . . . . .29
Relief Act. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
REMIC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
REMIC I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
REMIC II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
REMIC Provisions. . . . . . . . . . . . . . . . . . . . . . . . . . . .30
Remittance Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . .30
Required Account Level. . . . . . . . . . . . . . . . . . . . . . . . .30
Reserve Fund. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30
Reserve Fund Covered Amount . . . . . . . . . . . . . . . . . . . . . .30
Reserve Fund Initial Amount . . . . . . . . . . . . . . . . . . . . . .30
Reserve Fund Liquidation Amount . . . . . . . . . . . . . . . . . . . .30
Reserve Fund Percentage . . . . . . . . . . . . . . . . . . . . . . . .30
Reserve Fund Prepayment Percentage. . . . . . . . . . . . . . . . . . .30
Reserve Fund Release Amount . . . . . . . . . . . . . . . . . . . . . .32
Residual Allocable Share. . . . . . . . . . . . . . . . . . . . . . . .32
Residual Certificates . . . . . . . . . . . . . . . . . . . . . . . . .32
Residual Distribution Amount. . . . . . . . . . . . . . . . . . . . . .32
Responsible Officer . . . . . . . . . . . . . . . . . . . . . . . . . .33
S&P . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33
Securities Act. . . . . . . . . . . . . . . . . . . . . . . . . . . . .33
Selling and Servicing Contract. . . . . . . . . . . . . . . . . . . . .33
Servicer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33
Servicing Amount. . . . . . . . . . . . . . . . . . . . . . . . . . . .33
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Servicing Contract. . . . . . . . . . . . . . . . . . . . . . . . . . .33
Servicing Fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33
Servicing Officer . . . . . . . . . . . . . . . . . . . . . . . . . . .33
Special Hazard Coverage . . . . . . . . . . . . . . . . . . . . . . . .34
Special Hazard Loss . . . . . . . . . . . . . . . . . . . . . . . . . .34
Stated Principal Balance. . . . . . . . . . . . . . . . . . . . . . . .34
Substitute Mortgage Loan. . . . . . . . . . . . . . . . . . . . . . . .35
Supplemental Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . .35
Supplemental Amount . . . . . . . . . . . . . . . . . . . . . . . . . .35
Target Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35
Tax Matters Person. . . . . . . . . . . . . . . . . . . . . . . . . . .35
Termination Date. . . . . . . . . . . . . . . . . . . . . . . . . . . .35
Termination Payment . . . . . . . . . . . . . . . . . . . . . . . . . .35
Transfer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35
Transferee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35
Transferee Affidavit and Agreement. . . . . . . . . . . . . . . . . . .35
Trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35
Trust Fund. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35
Trustee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36
Uncertificated Class I-A Regular Interest . . . . . . . . . . . . . . .36
Uncertificated Class II-A Regular Interest. . . . . . . . . . . . . . .36
Uncollected Interest. . . . . . . . . . . . . . . . . . . . . . . . . .37
Uncompensated Interest Shortfall. . . . . . . . . . . . . . . . . . . .37
Underwriter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .37
Underwriting Standards. . . . . . . . . . . . . . . . . . . . . . . . .37
Uninsured Cause . . . . . . . . . . . . . . . . . . . . . . . . . . . .38
U.S. Person . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38
VA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38
Withdrawal Date . . . . . . . . . . . . . . . . . . . . . . . . . . . .38
Yield Supplement Account. . . . . . . . . . . . . . . . . . . . . . . .38
Yield Supplement Amount . . . . . . . . . . . . . . . . . . . . . . . .38
ARTICLE II
Creation and Conveyance of the Trust Fund;
REMIC Election and Designations; Original Issuance of Certificates
Section 2.01. Creation and Conveyance of the Trust Fund; REMIC Election and
Designations. . . . . . . . . . . . . . . . . . . . . . . . . .39
Section 2.02. Acceptance by Trustee . . . . . . . . . . . . . . . . . . . . .43
Section 2.03. Representations and Warranties. . . . . . . . . . . . . . . . .45
Section 2.04. Authentication of the Certificates. . . . . . . . . . . . . . .50
ARTICLE III
Administration and Servicing of Mortgage Loans
Section 3.01. The Company to Act as Master Servicer . . . . . . . . . . . . 50
Section 3.02. Custodial Accounts. . . . . . . . . . . . . . . . . . . . . . .52
Section 3.03. The Investment Account; Eligible Investments. . . . . . . . . .53
Section 3.04. The Certificate Account . . . . . . . . . . . . . . . . . . . .54
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Section 3.05. Permitted Withdrawals from the Certificate Account and
Custodial Accounts for P&I and of Buydown Funds from the
Buydown Fund Accounts . . . . . . . . . . . . . . . . . . . . 54
Section 3.06. Maintenance of Primary Insurance Policies; Collections
Thereunder . . . . . . . . . . . . . . . . . . . . . . . . . .56
Section 3.07. Maintenance of Hazard Insurance . . . . . . . . . . . . . . . 56
Section 3.08. Enforcement of Due-on-Sale Clauses; Assumption Agreements . . 57
Section 3.09. Realization Upon Defaulted Mortgage Loans . . . . . . . . . . 58
Section 3.10. Trustee to Cooperate; Release of Mortgage Files . . . . . . . .59
Section 3.11. Compensation to the Master Servicer, the Servicers and the
Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Section 3.12. Reports to the Trustee and the Certificate Insurer;
Certificate Account Statement . . . . . . . . . . . . . . . . 60
Section 3.13. Annual Statement as to Compliance . . . . . . . . . . . . . . .61
Section 3.14. Access to Certain Documentation and Information Regarding
the Mortgage Loans. . . . . . . . . . . . . . . . . . . . . . .61
Section 3.15. Annual Independent Public Accountants' Servicing Report . . . .61
Section 3.16. Maintenance of the Certificate Insurance Policy; Collections
Thereunder . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Section 3.17. Maintenance of the Reserve Funds and the Yield Supplement
Account; Collections Thereunder. . . . . . . . . . . . . . . . 63
Section 3.18. Put Option and Clean-Up Option. . . . . . . . . . . . . . . . .64
Section 3.19. [Reserved.] . . . . . . . . . . . . . . . . . . . . . . . . . .65
Section 3.20. [Reserved.] . . . . . . . . . . . . . . . . . . . . . . . . . .65
Section 3.21. Assumption or Termination of Servicing Contracts by Trustee . .66
ARTICLE IV
Payments to Certificateholders; Payment of Expenses
Section 4.01. Distributions to Certificateholders . . . . . . . . .. . . . . 66
Section 4.02. Statements to Certificateholders. . . . . . . . . . . . . . . .67
Section 4.03. Advances by the Master Servicer; Distribution Reports to the
Trustee. . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
Section 4.04. Nonrecoverable Advances . . . . . . . . . . . . . . . . . . . .71
ARTICLE V
The Certificates
Section 5.01. The Certificates. . . . . . . . . . . . . . . . . . . . . . . 72
Section 5.02. Certificates Issuable in Classes; Distributions of
Principal and Interest; Authorized Denominations. . . . . . . .77
Section 5.03. Registration of Transfer and Exchange of Certificates . . . . .78
Section 5.04. Mutilated, Destroyed, Lost or Stolen Certificates . . . . . . .78
Section 5.05. Persons Deemed Owners . . . . . . . . . . . . . . . . . . . . .79
Section 5.06. Temporary Certificates. . . . . . . . . . . . . . . . . . . . .79
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Section 5.07. Book-Entry for Book-Entry Certificates. . . . . . . . . . . . 79
Section 5.08. Notices to Clearing Agency. . . . . . . . . . . . . . . . . . 81
Section 5.09. Definitive Certificates . . . . . . . . . . . . . . . . . . . 81
Section 5.10. Office for Transfer of Certificates . . . . . . . . . . . . . 81
ARTICLE VI
The Company and the Master Servicer
Section 6.01. Liability of the Company and the Master Servicer. . . . . . . 82
Section 6.02. Merger or Consolidation of the Company or the Master
Servicer . . . . . . . . . . . . . . . . . . . . . . . . . . .82
Section 6.03. Limitation on Liability of the Company, the Master Servicer
and Others. . . . . . . . . . . . . . . . . . . . . . . . . . 82
Section 6.04. The Company and Master Servicer Not to Resign . . . . . . . . 83
ARTICLE VII
Default
Section 7.01. Events of Default . . . . . . . . . . . . . . . . . . . . . .83
Section 7.02. Trustee to Act; Appointment of Successor. . . . . . . . . . . 86
Section 7.03. Notification to Certificateholders. . . . . . . . . . . . . . 87
ARTICLE VIII
Concerning the Trustee
Section 8.01. Duties of Trustee . . . . . . . . . . . . . . . . . . . . . . 87
Section 8.02. Certain Matters Affecting the Trustee . . . . . . . . . . . . 88
Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans . . . . 89
Section 8.04. Trustee May Own Certificates. . . . . . . . . . . . . . . . . 89
Section 8.05. The Master Servicer to Pay Trustee's Fees and Expenses. . . . 89
Section 8.06. Eligibility Requirements for Trustee. . . . . . . . . . . . . 90
Section 8.07. Resignation and Removal of Trustee. . . . . . . . . . . . . . 90
Section 8.08. Successor Trustee . . . . . . . . . . . . . . . . . . . . . . 91
Section 8.09. Merger or Consolidation of Trustee. . . . . . . . . . . . . . 91
Section 8.10. Appointment of Co-Trustee or Separate Trustee . . . . . . . . 91
Section 8.11. Authenticating Agents . . . . . . . . . . . . . . . . . . . . 93
Section 8.12. Paying Agents . . . . . . . . . . . . . . . . . . . . . . . . 93
ARTICLE IX
Termination
Section 9.01. Termination Upon Repurchase by the Company or Liquidation
of All Mortgage Loans . . . . . . . . . . . . . . . . . . . . 94
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Section 9.02. Additional Termination Requirements . . . . . . . . . . . . . 96
Section 9.03. Trust Irrevocable . . . . . . . . . . . . . . . . . . . . . . 97
ARTICLE X
Miscellaneous Provisions
Section 10.01. Amendment . . . . . . . . . . . . . . . . . . . . . . . . . . 97
Section 10.02. Recordation of Agreement. . . . . . . . . . . . . . . . . . . 98
Section 10.03. Limitation on Rights of Certificateholders. . . . . . . . . . 98
Section 10.04. Access to List of Certificateholders. . . . . . . . . . . . . 99
Section 10.05. Governing Law . . . . . . . . . . . . . . . . . . . . . . . .100
Section 10.06. Notices . . . . . . . . . . . . . . . . . . . . . . . . . . .100
Section 10.07. Severability of Provisions. . . . . . . . . . . . . . . . . .100
Section 10.08. Counterpart Signatures. . . . . . . . . . . . . . . . . . . .100
Section 10.09. Benefits of Agreement . . . . . . . . . . . . . . . . . . . .101
Section 10.10. Notices and Copies to Rating Agency . . . . . . . . . . . . .101
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EXHIBITS
Exhibit A -- Forms of Class A Certificates
Exhibit B -- Form of Residual Certificates
Exhibit C -- Form of Liquidation Report
Exhibit D -- Schedule of Mortgage Loans
Exhibit E -- Form of Servicing Contract
Exhibit F -- Form of Transferor Certificate
Exhibit G -- Form of Transferee's Certificate
Exhibit H -- Form of Certificate Insurance Policy
Exhibit I -- Form of Transferor Certificate
Exhibit J -- Form of Transferee Affidavit and Agreement
Exhibit K -- Form of Additional Matter Incorporated into the Form of the
Certificates
Exhibit L -- Form of Rule 144A Investment Representation
Exhibit M -- Form of Trustee's Certificate of Review of Mortgage Loans
Exhibit N -- Schedule of Certain Mortgage Loans With Group Primary Insurance
Policies
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<PAGE>
Exhibit A-1
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-A
Evidencing a Percentage Interest in certain distributions with respect to a pool
of conventional one- to four-family mortgage loans formed and administered by
PNC MORTGAGE SECURITIES CORP.
This Certificate represents ownership of a "regular interest" in a "real estate
mortgage investment conduit," as those terms are defined in Sections 860G and
860D, respectively, of the Internal Revenue Code of 1986, as amended. The issue
date (the "Issue Date") of this Certificate is September [ ], 1997. The rate
at which interest is payable as of the Issue Date with respect to this
Certificate is [ ]% per annum. [Assuming that the Mortgage Loans
underlying the Certificates prepay at the prepayment assumption used by the
issuer in pricing this Certificate (I.E., 15% of the Prepayment Assumption as
described in the Prospectus Supplement), this Certificate has been issued with
original issue discount ("OID") of no more than $ per $100,000 of
initial Certificate Principal Balance, the yield to maturity is %, and the
amount of OID attributable to the short period is not more than $ per
$100,000 of initial Certificate Principal Balance, computed under the exact
method. No representation is made that the Mortgage Loans will prepay at a rate
based on the Constant Prepayment Rate or any other rate.]
[Unless this Certificate is presented by an authorized representative of The
Depository Trust Company, a New York corporation ("DTC"), to the Trustee or its
agent for registration of transfer, exchange, or payment, and any Certificate
issued is registered in the name of Cede & Co. or such other name as is
requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
hereof, Cede & Co., has an interest herein.]
Series 1997-6 Portion of the Class I-A Principal Balance
as of the Cut-Off Date evidenced by this
Certificate:
$
----------------------
The Class I-A Remittance Rate: (i) on or prior to the applicable Put Date,
the lesser of (x) the Target Rate for the applicable Class of Certificates
and (y) the sum of (a) the weighted average (by principal balance) of the
Pass-Through Rates on the Mortgage Loans in the related Loan Group for such
Distribution Date, (b) twelve times the ratio, expressed as a percentage, of
the Excess Interest, if any, received from the other Loan Group, divided by
the Class Principal Balance of such Class of Certificates (which percentage
shall be deemed to be zero after the Distribution Date in July, 2000), and
(c) twelve times the ratio, expressed as a percentage, of the applicable
Yield Supplement Amount divided by the Class Principal Balance of such Class
of Certificates and (ii) after the applicable Put Date, the weighted average
(by principal balance) of the Pass-Through Rates on the Mortgage Loans in the
related Loan Group for such Distribution Date.
Cut-Off Date: September 1, 1997 First Distribution Date: October 27, 1997
Last Scheduled Distribution Class I-A Principal Balance as of the
Date: October 25, 2026 Cut-Off Date: $ 285,686,562
---------------------
Registered Owner Certificate No.
--
<PAGE>
Exhibit A-2
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A
Evidencing a Percentage Interest in certain distributions with respect to a pool
of conventional one- to four-family mortgage loans formed and administered by
PNC MORTGAGE SECURITIES CORP.
This Certificate represents ownership of a "regular interest" in a "real estate
mortgage investment conduit," as those terms are defined in Sections 860G and
860D, respectively, of the Internal Revenue Code of 1986, as amended. The issue
date (the "Issue Date") of this Certificate is April 30, 1997. The rate at which
interest is payable as of the Issue Date with respect to this Certificate is [
]% per annum. [Assuming that the Mortgage Loans underlying the Certificates
prepay at the prepayment assumption used by the issuer in pricing this
Certificate (I.E., 15% of the Prepayment Assumption as described in the
Prospectus Supplement), this Certificate has been issued with original issue
discount ("OID") of no more than $ per $100,000 of initial
Certificate Principal Balance, the yield to maturity is %, and the amount
of OID attributable to the short period is not more than $ per
$100,000 of initial Certificate Principal Balance, computed under the exact
method. No representation is made that the Mortgage Loans will prepay at a rate
based on the Constant Prepayment Rate or any other rate.]
[Unless this Certificate is presented by an authorized representative of The
Depository Trust Company, a New York corporation ("DTC"), to the Trustee or its
agent for registration of transfer, exchange, or payment, and any Certificate
issued is registered in the name of Cede & Co. or such other name as is
requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
hereof, Cede & Co., has an interest herein.]
Series 1997-6 Portion of the Class II-A Principal
Balance as of the Cut-Off Date evidenced
by this Certificate:
$
--------------------------
The Class I-A Remittance Rate: (i) on or prior to the applicable Put Date,
the lesser of (x) the Target Rate for the applicable Class of Certificates
and (y) the sum of (a) the weighted average (by principal balance) of the
Pass-Through Rates on the Mortgage Loans in the related Loan Group for such
Distribution Date, (b) twelve times the ratio, expressed as a percentage, of
the Excess Interest, if any, received from the other Loan Group, divided by
the Class Principal Balance of such Class of Certificates (which percentage
shall be deemed to be zero after the Distribution Date in July, 2000), and
(c) twelve times the ratio, expressed as a percentage, of the applicable
Yield Supplement Amount divided by the Class Principal Balance of such Class
of Certificates and (ii) after the applicable Put Date, the weighted average
(by principal balance) of the Pass-Through Rates on the Mortgage Loans in the
related Loan Group for such Distribution Date.
Cut-Off Date: September 1, 1997 First Distribution Date: October 27, 1997
Last Scheduled Distribution Class II-A Principal Balance as of the
Date: July 25, 2027 Cut-Off Date: $409,998,258
----------------
A-2
<PAGE>
Registered Owner Certificate No.
--
<PAGE>
Exhibit B-1
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-R
Evidencing a Percentage Interest in certain distributions with respect to a pool
of conventional one- to four-family mortgage loans formed and administered by
PNC MORTGAGE SECURITIES CORP.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE
ONLY IF THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE COMPANY
AND THE CERTIFICATE REGISTRAR THAT (1) SUCH TRANSFEREE IS NOT EITHER (A) THE
UNITED STATES, ANY STATE OR POLITICAL SUBDIVISION THEREOF, ANY FOREIGN
GOVERNMENT, ANY INTERNATIONAL ORGANIZATION, OR ANY AGENCY OR INSTRUMENTALITY
OF ANY OF THE FOREGOING, (B) ANY ORGANIZATION (OTHER THAN A COOPERATIVE
DESCRIBED IN SECTION 521 OF THE CODE) WHICH IS EXEMPT FROM THE TAX IMPOSED BY
CHAPTER 1 OF THE CODE UNLESS SUCH ORGANIZATION IS SUBJECT TO THE TAX IMPOSED
BY SECTION 511 OF THE CODE, (C) ANY ORGANIZATION DESCRIBED IN SECTION
1381(a)(2)(C) OF THE CODE (ANY SUCH PERSON DESCRIBED IN THE FOREGOING CLAUSES
(A), (B), OR (C) BEING HEREINAFTER REFERRED TO AS A "DISQUALIFIED
ORGANIZATION"), OR (D) AN AGENT OF A DISQUALIFIED ORGANIZATION AND (2) NO
PURPOSE OF SUCH TRANSFER IS TO ENABLE THE TRANSFER TO IMPEDE THE ASSESSMENT
OR COLLECTION OF TAX. SUCH AFFIDAVIT SHALL INCLUDE CERTAIN REPRESENTATIONS AS
TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE. NOTWITHSTANDING THE
REGISTRATION IN THE CERTIFICATE REGISTER OF ANY TRANSFER, SALE OR OTHER
DISPOSITION OF THIS CLASS I-R CERTIFICATE TO A DISQUALIFIED ORGANIZATION OR
AN AGENT OF A DISQUALIFIED ORGANIZATION, SUCH REGISTRATION SHALL BE DEEMED TO
BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED
TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT NOT
LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER OF
A CLASS I-R CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO
HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.
NO TRANSFER OF ANY CLASS I-R CERTIFICATE SHALL BE MADE UNLESS THE TRANSFEREE
PROVIDES THE COMPANY AND THE TRUSTEE WITH (i) A TRANSFEREE'S AGREEMENT
SUBSTANTIALLY IN THE FORM OF EXHIBIT G TO THE POOLING AGREEMENT, AND (ii) EITHER
(a) AN AFFIDAVIT SUBSTANTIALLY IN THE FORM OF EXHIBIT A TO EXHIBIT G TO THE
POOLING AGREEMENT THAT THE PROPOSED TRANSFEREE IS NOT AN AN EMPLOYEE BENEFIT OR
OTHER PLAN SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF
THE CODE (OR COMPARABLE PROVISIONS OF ANY SUBSEQUENT ENACTMENTS) (A "PLAN"), OR
A TRUSTEE OF ANY SUCH PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF
ANY SUCH PLAN TO EFFECT SUCH ACQUISITION, OR (b) AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE , THE
CERTIFICATE INSURER AND THE COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING
OF A CLASS II-R CERTIFICATE IS PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT
CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF
ERISA OR SECTION 4975 OF THE CODE AND WILL NOT SUBJECT THE TRUSTEE, THE MASTER
SERVICER OR THE COMPANY TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR
LIABILITIES UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE) IN ADDITION
TO THOSE UNDERTAKEN IN THE POOLING AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT
BE AN EXPENSE OF THE TRUSTEE, THE MASTER SERVICER, THE TRUST FUND OR THE
COMPANY. THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE
OFFERED, SOLD, TRANSFERRED, PLEGED OR HYPOTHECATED IN THE ABSENCE OF
REGISTRATION OR THE AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT OF 1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OR SECTION
5.01(f) OF THE POOLING AGREEMENT.
Solely for U.S. federal income tax purposes, this Certificate represents a
"residual interest" in a "real estate mortgage investment conduit," as those
terms are defined in Sections 860G and 860D, respectively, of the Internal
Revenue Code of 1986, as amended.
Series 1997-6 Percentage Interest evidenced by this Class I-R Certificate in
the distributions to be made with respect to the Class I-R
Certificate: %
----
The Class I-R Certificates are entitled to Excess Liquidation
Proceeds, the Residual Distribution Amount and Excess Interest
as set forth in the Pooling Agreement
Cut-Off Date: September 1, 1997
First Distribution Date: October 27, 1997
Last Scheduled Distribution Date: October 25, 2026
----------------
Registered Owner Certificate No.
--
B-1
<PAGE>
Exhibit B-2
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-R
Evidencing a Percentage Interest in certain distributions with respect to a pool
of conventional one- to four-family mortgage loans formed and administered by
PNC MORTGAGE SECURITIES CORP.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE
ONLY IF THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE COMPANY
AND THE CERTIFICATE REGISTRAR THAT (1) SUCH TRANSFEREE IS NOT EITHER (A) THE
UNITED STATES, ANY STATE OR POLITICAL SUBDIVISION THEREOF, ANY FOREIGN
GOVERNMENT, ANY INTERNATIONAL ORGANIZATION, OR ANY AGENCY OR INSTRUMENTALITY
OF ANY OF THE FOREGOING, (B) ANY ORGANIZATION (OTHER THAN A COOPERATIVE
DESCRIBED IN SECTION 521 OF THE CODE) WHICH IS EXEMPT FROM THE TAX IMPOSED BY
CHAPTER 1 OF THE CODE UNLESS SUCH ORGANIZATION IS SUBJECT TO THE TAX IMPOSED
BY SECTION 511 OF THE CODE, (C) ANY ORGANIZATION DESCRIBED IN SECTION
1381(a)(2)(C) OF THE CODE (ANY SUCH PERSON DESCRIBED IN THE FOREGOING CLAUSES
(A), (B), OR (C) BEING HEREINAFTER REFERRED TO AS A "DISQUALIFIED
ORGANIZATION"), OR (D) AN AGENT OF A DISQUALIFIED ORGANIZATION AND (2) NO
PURPOSE OF SUCH TRANSFER IS TO ENABLE THE TRANSFER TO IMPEDE THE ASSESSMENT
OR COLLECTION OF TAX. SUCH AFFIDAVIT SHALL INCLUDE CERTAIN REPRESENTATIONS AS
TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE. NOTWITHSTANDING THE
REGISTRATION IN THE CERTIFICATE REGISTER OF ANY TRANSFER, SALE OR OTHER
DISPOSITION OF THIS CLASS II-R CERTIFICATE TO A DISQUALIFIED ORGANIZATION OR
AN AGENT OF A DISQUALIFIED ORGANIZATION, SUCH REGISTRATION SHALL BE DEEMED TO
BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED
TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT NOT
LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER OF
A CLASS II-R CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO
HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.
NO TRANSFER OF ANY CLASS I-R CERTIFICATE SHALL BE MADE UNLESS THE TRANSFEREE
PROVIDES THE COMPANY AND THE TRUSTEE WITH (i) A TRANSFEREE'S AGREEMENT
SUBSTANTIALLY IN THE FORM OF EXHIBIT G TO THE POOLING AGREEMENT, AND (ii)
EITHER (a) AN AFFIDAVIT SUBSTANTIALLY IN THE FORM OF EXHIBIT A TO EXHIBIT G
TO THE POOLING AGREEMENT THAT THE PROPOSED TRANSFEREE IS NOT AN AN EMPLOYEE
BENEFIT OR OTHER PLAN SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF
THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR
SECTION 4975 OF THE CODE (OR COMPARABLE PROVISIONS OF ANY SUBSEQUENT
ENACTMENTS) (A "PLAN"), OR A TRUSTEE OF ANY SUCH PLAN, OR ANY OTHER PERSON
WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO EFFECT SUCH ACQUISITION, OR
(b) AN OPINION OF COUNSEL ACCEPTABLE TO AND IN FORM AND SUBSTANCE
SATISFACTORY TO THE TRUSTEE , THE CERTIFICATE INSURER AND THE COMPANY TO THE
EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS II-R CERTIFICATE IS
PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN A
NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975
OF THE CODE AND WILL NOT SUBJECT THE TRUSTEE, THE MASTER SERVICER OR THE
COMPANY TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES
UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE
UNDERTAKEN IN THE POOLING AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN
EXPENSE OF THE TRUSTEE, THE MASTER SERVICER, THE TRUST FUND OR THE COMPANY.
THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OR SECTION 5.01(f) OF THE
POOLING AGREEMENT.
Solely for U.S. federal income tax purposes, this Certificate represents a
"residual interest" in a "real estate mortgage investment conduit," as those
terms are defined in Sections 860G and 860D, respectively, of the Internal
Revenue Code of 1986, as amended.
Series 1997-6 Percentage Interest evidenced by this Class II-R Certificate in
the distributions to be made with respect to the Class II-R
Certificate: %
-----
The Class II-R Certificates are entitled to Excess Liquidation
Proceeds, the Residual Distribution Amount and Excess Interest
as set forth in the Pooling Agreement
Cut-Off Date: September 1, 1997
First Distribution Date: October 27, 1997
Last Scheduled Distribution Date: July 25, 2027
----------------
<PAGE>
Registered Owner Certificate No.
----
<PAGE>
Exhibit C
Form of Liquidation Report
Customer Name:
Account Number:
Original Principal Balance:
1. Type of Liquidation (REO disposition/charge-off/short pay-off)
Date last paid
Date of foreclosure
Date of REO
Date of REO Disposition
Property Sale Price/Estimated Market Value at disposition
2. Liquidation Proceeds
Principal Prepayment $__________
Property Sale Proceeds __________
Insurance Proceeds __________
Other (itemize) __________
Total Proceeds $__________
3. Liquidation Expenses
Servicing Advances $__________
Delinquency Advances __________
Monthly Advances __________
Servicing Fees __________
Other Servicing Compensation __________
Total Advances $__________
4. Net Liquidation Proceeds $__________
(Item 2 minus Item 3)
5. Principal Balance of Mortgage Loan $__________
6. Loss, if any (Item 5 minus Item 4) $__________
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600070990 SZADKOWSKI,JAN 8252 VALLEY VIEW ORION TOWN MI 48634 $222,485.17
600071011 SWEENEY,ROBERT M 1701 SCENIC VALLEY L KNOXVILLE TN 37919 $157,589.27
600071012 GOMEZ,JEFFREY S 609 S DUNDEE AVE. BARRINGTON IL 60010 $212,745.47
600071013 SORENSON,ROBERT N 5355 SW32ND PLACE OCALA FL 34471 $137,792.21
600071014 ROBERTS,SUSAN F 106 E ELM STREET UN GREENWICH CT 6830 $275,781.28
600071015 MESSNER,LORI A 152 N BATTIN WICHITA KS 67208 $107,004.34
600071016 PARENT,JEAN-CLAUDE 10318 HALTON TERRACE LANHAM MD 20706 $248,917.82
600071017 MOHR,LARRY 3119 CORTE COLETA NEWPORT BE CA 92660 $328,307.41
600071018 TIDALGO,ADORACION P 474 WHITE OAK LANE LAKE BARRI IL 60010 $207,120.99
600071019 RESAR,TIMOTHY E 5078 GRANADA COURT RANCHO CUC CA 91737 $425,145.87
600071020 STEPHENS,LARRY G 4121 E 46TH PLACE TULSA OK 74135 $111,579.54
600071022 KUDLACEK,IVAN 1218 RAMSEY COURT ALLEN TX 75002 $155,434.97
600071023 BOLTON,HANNIBAL 20640 SHOAL PLACE STERLING VA 20165 $215,940.68
600071024 KAPLAN,JEFFREY L 8 THAMES DR LIVINGSTON NJ 7039 $874,729.34
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600070990 SZADKOWSKI,JAN 6.500 .250 6.250 .1650 6.085 09/01/2026
600071011 SWEENEY,ROBERT M 6.500 .250 6.250 .1650 6.085 05/01/2026
600071012 GOMEZ,JEFFREY S 6.500 .250 6.250 .1650 6.085 05/01/2026
600071013 SORENSON,ROBERT N 6.500 .250 6.250 .1650 6.085 05/01/2026
600071014 ROBERTS,SUSAN F 6.500 .250 6.250 .1650 6.085 05/01/2026
600071015 MESSNER,LORI A 6.500 .250 6.250 .1650 6.085 04/01/2026
600071016 PARENT,JEAN-CLAUDE 6.500 .250 6.250 .1650 6.085 03/01/2026
600071017 MOHR,LARRY 6.500 .250 6.250 .1650 6.085 03/01/2026
600071018 TIDALGO,ADORACION P 6.500 .250 6.250 .1650 6.085 04/01/2026
600071019 RESAR,TIMOTHY E 6.500 .250 6.250 .1650 6.085 03/01/2026
600071020 STEPHENS,LARRY G 6.500 .250 6.250 .1650 6.085 04/01/2026
600071022 KUDLACEK,IVAN 6.500 .250 6.250 .1650 6.085 03/01/2026
600071023 BOLTON,HANNIBAL 6.500 .250 6.250 .1650 6.085 02/01/2026
600071024 KAPLAN,JEFFREY L 6.500 .250 6.250 .1650 6.085 04/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600070990 SZADKOWSKI,JAN 91898101 $1,422.15 09/01/1997 360
600071011 SWEENEY,ROBERT M 91877974 $1,011.31 19 09/01/1997 360
600071012 GOMEZ,JEFFREY S 91875610 $1,365.27 1 09/01/1997 360
600071013 SORENSON,ROBERT N 91871710 $884.26 19 09/01/1997 360
600071014 ROBERTS,SUSAN F 91871445 $1,769.79 09/01/1997 360
600071015 MESSNER,LORI A 91870154 $687.37 09/01/1997 360
600071016 PARENT,JEAN-CLAUDE 91870021 $1,600.71 1 09/01/1997 360
600071017 MOHR,LARRY 91867489 $2,111.11 09/01/1997 360
600071018 TIDALGO,ADORACION P 91867419 $1,330.50 09/01/1997 360
600071019 RESAR,TIMOTHY E 91867185 $2,740.01 19 09/01/1997 360
600071020 STEPHENS,LARRY G 91865443 $716.77 19 09/01/1997 360
600071022 KUDLACEK,IVAN 91863265 $1,001.20 1 09/01/1997 360
600071023 BOLTON,HANNIBAL 91863156 $1,390.55 09/01/1997 360
600071024 KAPLAN,JEFFREY L 91861488 $5,619.08 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600070990 SZADKOWSKI,JAN 2.00 2.75 11.50 2.750 2.500 2.335 $282,000.00 N
600071011 SWEENEY,ROBERT M 2.00 2.75 11.50 2.750 2.500 2.335 $178,000.00 N
600071012 GOMEZ,JEFFREY S 2.00 2.75 11.50 2.750 2.500 2.335 $240,000.00 N
600071013 SORENSON,ROBERT N 2.00 2.75 11.50 2.750 2.500 2.335 $159,900.00 N
600071014 ROBERTS,SUSAN F 2.00 2.75 11.50 2.750 2.500 2.335 $350,000.00 N
600071015 MESSNER,LORI A 2.00 2.75 11.50 2.750 2.500 2.335 $145,000.00 N
600071016 PARENT,JEAN-CLAUDE 2.00 2.75 11.50 2.750 2.500 2.335 $266,725.00 N
600071017 MOHR,LARRY 2.00 2.75 11.50 2.750 2.500 2.335 $417,500.00 N
600071018 TIDALGO,ADORACION P 2.00 2.75 11.50 2.750 2.500 2.335 $266,528.00 N
600071019 RESAR,TIMOTHY E 2.00 2.75 11.50 2.750 2.500 2.335 $510,000.00 N
600071020 STEPHENS,LARRY G 2.00 2.75 11.50 2.750 2.500 2.335 $126,000.00 N
600071022 KUDLACEK,IVAN 2.00 2.75 11.50 2.750 2.500 2.335 $176,000.00 N
600071023 BOLTON,HANNIBAL 2.00 2.75 11.50 2.750 2.500 2.335 $276,850.00 N
600071024 KAPLAN,JEFFREY L 2.00 2.75 11.50 2.750 2.500 2.335 $1,200,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071025 SNYDER,HAROLD J 34 THIRD AVE BOROUGH OF NJ 8752 $240,824.27
600071026 SIMKINS,N. T 332 GOLFVIEW ROAD ATLANTA GA 30309 $216,152.09
600071027 HIGHTOWER,ROBERT C 401 EASTRIDGE COURT GRANITE BA CA 95746 $279,395.24
600071028 TERRYSR,W. M 7125 HARRODSBURG ROA LEXINGTON KY 40514 $314,863.14
600071029 DOLAN,TIMOTHY F 138 CHESTNUT HILL R TRUMBULL CT 6611 $190,080.59
600071030 BARR,DAN O 15053 AVENIDA DEL RIO CHINO HILL CA 91709 $225,388.69
600071031 EKKER,KIM A 34391 LIVORNA TER FREMONT CA 94536 $172,471.42
600071032 BAILEY,DON M 740 HALTER DR SW ALBUQUERQU NM 87121 $92,824.01
600071033 SEBA,RODNEY R 240 N MONTBELLA WICHITA KS 67230 $299,932.97
600071034 GILHAM,GEORGE A 28611 RANCHO GRANDE LAGUNA NIG CA 92677 $272,267.09
600071035 KOSSMAN,MICHAEL J 507 BROOKNEAL DRIVE ST. CHARLE MO 63304 $115,933.01
600071036 CIUFO,RICHARD M 10429 S 44TH ST. PHOENIX AZ 85044 $104,815.78
600071037 DAVIS,LARRY G 1318 FAWN RIDGE ROAD CONCORD NC 28027 $175,672.55
600071038 DEMEULEMEESTER,ROBERT S 25 GLENWOOD ROAD MONTCLAIR NJ 7042 $213,440.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071025 SNYDER,HAROLD J 6.500 .250 6.250 .1650 6.085 03/01/2026
600071026 SIMKINS,N. T 6.500 .250 6.250 .1650 6.085 03/01/2026
600071027 HIGHTOWER,ROBERT C 6.500 .250 6.250 .1650 6.085 03/01/2026
600071028 TERRYSR,W. M 6.500 .250 6.250 .1650 6.085 04/01/2026
600071029 DOLAN,TIMOTHY F 6.500 .250 6.250 .1650 6.085 02/01/2026
600071030 BARR,DAN O 6.500 .250 6.250 .1650 6.085 12/01/2025
600071031 EKKER,KIM A 6.500 .250 6.250 .1650 6.085 12/01/2025
600071032 BAILEY,DON M 6.500 .250 6.250 .1650 6.085 10/01/2025
600071033 SEBA,RODNEY R 6.500 .250 6.250 .1650 6.085 08/01/2025
600071034 GILHAM,GEORGE A 6.500 .250 6.250 .1650 6.085 08/01/2025
600071035 KOSSMAN,MICHAEL J 6.500 .250 6.250 .1650 6.085 08/01/2025
600071036 CIUFO,RICHARD M 6.500 .250 6.250 .1650 6.085 08/01/2025
600071037 DAVIS,LARRY G 6.500 .250 6.250 .1650 6.085 09/01/2025
600071038 DEMEULEMEESTER,ROBERT S 6.500 .250 6.250 .1650 6.085 08/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071025 SNYDER,HAROLD J 91861373 $1,548.57 09/01/1997 360
600071026 SIMKINS,N. T 91860743 $1,389.92 19 09/01/1997 360
600071027 HIGHTOWER,ROBERT C 91859694 $1,801.08 7 09/01/1997 360
600071028 TERRYSR,W. M 91857180 $2,022.62 09/01/1997 360
600071029 DOLAN,TIMOTHY F 91856776 $1,226.21 09/01/1997 360
600071030 BARR,DAN O 91854142 $1,453.76 09/01/1997 360
600071031 EKKER,KIM A 91848542 $1,112.44 09/01/1997 360
600071032 BAILEY,DON M 91846128 $599.96 09/01/1997 360
600071033 SEBA,RODNEY R 91835354 $1,942.66 09/01/1997 360
600071034 GILHAM,GEORGE A 91830104 $1,763.47 2 09/01/1997 360
600071035 KOSSMAN,MICHAEL J 91829547 $750.90 19 09/01/1997 360
600071036 CIUFO,RICHARD M 91829421 $682.00 7 09/01/1997 360
600071037 DAVIS,LARRY G 91827419 $1,137.72 19 09/01/1997 360
600071038 DEMEULEMEESTER,ROBERT S 91827363 $1,649.70 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071025 SNYDER,HAROLD J 2.00 2.75 11.50 2.750 2.500 2.335 $307,000.00 N
600071026 SIMKINS,N. T 2.00 2.75 11.50 2.750 2.500 2.335 $231,500.00 N
600071027 HIGHTOWER,ROBERT C 2.00 2.75 11.50 2.750 2.500 2.335 $299,970.00 N
600071028 TERRYSR,W. M 2.00 2.75 11.50 2.750 2.500 2.335 $400,000.00 N
600071029 DOLAN,TIMOTHY F 2.00 2.75 11.50 2.750 2.500 2.335 $247,000.00 N
600071030 BARR,DAN O 2.00 2.75 11.50 2.750 2.500 2.335 $355,000.00 N
600071031 EKKER,KIM A 2.00 2.75 11.50 2.750 2.500 2.335 $220,000.00 N
600071032 BAILEY,DON M 2.00 2.75 11.50 2.750 2.500 2.335 $118,652.00 N
600071033 SEBA,RODNEY R 2.00 2.75 13.13 2.750 2.500 2.335 $384,233.00 N
600071034 GILHAM,GEORGE A 2.00 2.75 13.13 2.750 2.500 2.335 $310,000.00 N
600071035 KOSSMAN,MICHAEL J 2.00 2.75 13.13 2.750 2.500 2.335 $132,000.00 N
600071036 CIUFO,RICHARD M 2.00 2.75 13.13 2.750 2.500 2.335 $119,900.00 N
600071037 DAVIS,LARRY G 2.00 2.75 13.13 2.750 2.500 2.335 $220,500.00 N
600071038 DEMEULEMEESTER,ROBERT S 2.00 2.75 13.13 2.750 2.500 2.335 $290,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071039 FELTEN,DEBRA J 29 MONTE CARLO DRI PITTSBURGH PA 15239 $52,373.93
600071040 BUTLER,GREGG 3 E ELBROOK AVENUE ALLENDALE NJ 7401 $268,078.99
600071041 DUNSMOREJR,RICHARD M 3104 AVIARA COURT NAPERVILLE IL 60563 $336,255.17
600071042 SRINIVASAN,ATUL 2525 AUSTIN PL SANTA CLAR CA 95054 $206,664.74
600071043 ARNOLD,STEVEN D 3351 DELUNA DRIVE RANCHO PAL CA 90275 $360,688.28
600071044 LUCAS,WES W 21 POLLARD ROAD MOUNTAIN L NJ 7046 $292,044.65
600071045 BAHNAMAN,MICHAEL A 1511 PEPPERMILL CIRC MIDLAND MI 48642 $205,274.26
600071053 HODGE,L. D 7938 NANTUCKET WOODS TERRE HAUT IN 47802 $171,659.63
600071068 BARNES,GARY S 7265 TWIN LAKES PERRYSBURG OH 43551 $127,261.50
600071069 HOLLOWAY,JAMES 611 SEMINOLE TRAIL LAKE IN TH IL 60102 $112,725.77
600071077 CARPENTER,RONALD F 10115 LINFORD TERRACE LANHAM SEA MD 20706 $271,623.47
600071093 GRUNEWALD,FRED S 4740 STONEHOLLOW WAY DALLAS TX 75287 $585,538.44
600071094 GOODWIN,MARSHALL L 347 LA VELA CT. MORGAN HIL CA 95037 $293,478.43
600071095 JENKINS,PAUL W 8 W STONE AVENUE LAKE FORES IL 60045 $324,966.78
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071039 FELTEN,DEBRA J 6.500 .250 6.250 .1650 6.085 07/01/2025
600071040 BUTLER,GREGG 6.500 .250 6.250 .1650 6.085 07/01/2025
600071041 DUNSMOREJR,RICHARD M 6.500 .250 6.250 .1650 6.085 09/01/2025
600071042 SRINIVASAN,ATUL 6.500 .250 6.250 .1650 6.085 07/01/2025
600071043 ARNOLD,STEVEN D 6.500 .250 6.250 .1650 6.085 07/01/2025
600071044 LUCAS,WES W 6.500 .250 6.250 .1650 6.085 08/01/2025
600071045 BAHNAMAN,MICHAEL A 6.500 .250 6.250 .1650 6.085 07/01/2025
600071053 HODGE,L. D 6.500 .250 6.250 .1650 6.085 09/01/2026
600071068 BARNES,GARY S 6.500 .250 6.250 .1650 6.085 09/01/2026
600071069 HOLLOWAY,JAMES 6.500 .250 6.250 .1650 6.085 09/01/2026
600071077 CARPENTER,RONALD F 6.625 .250 6.375 .1650 6.210 01/01/2026
600071093 GRUNEWALD,FRED S 6.625 .250 6.375 .1650 6.210 09/01/2026
600071094 GOODWIN,MARSHALL L 6.625 .250 6.375 .1650 6.210 08/01/2026
600071095 JENKINS,PAUL W 6.625 .250 6.375 .1650 6.210 06/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071039 FELTEN,DEBRA J 91825350 $341.32 19 09/01/1997 360
600071040 BUTLER,GREGG 91821857 $1,738.19 09/01/1997 360
600071041 DUNSMOREJR,RICHARD M 91821691 $2,179.43 09/01/1997 360
600071042 SRINIVASAN,ATUL 91820831 $1,339.98 09/01/1997 360
600071043 ARNOLD,STEVEN D 91820192 $2,338.65 09/01/1997 360
600071044 LUCAS,WES W 91820118 $1,896.20 09/01/1997 360
600071045 BAHNAMAN,MICHAEL A 91813917 $1,422.15 09/01/1997 360
600071053 HODGE,L. D 91898677 $1,097.27 09/01/1997 360
600071068 BARNES,GARY S 91898796 $813.47 19 09/01/1997 360
600071069 HOLLOWAY,JAMES 91897417 $720.56 1 09/01/1997 360
600071077 CARPENTER,RONALD F 91857744 $1,773.98 19 09/01/1997 360
600071093 GRUNEWALD,FRED S 91899261 $3,790.64 09/01/1997 360
600071094 GOODWIN,MARSHALL L 91888722 $1,901.72 1 09/01/1997 360
600071095 JENKINS,PAUL W 91879276 $2,109.82 1 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071039 FELTEN,DEBRA J 2.00 2.75 13.13 2.750 2.500 2.335 $60,000.00 N
600071040 BUTLER,GREGG 2.00 2.75 13.13 2.750 2.500 2.335 $410,000.00 N
600071041 DUNSMOREJR,RICHARD M 2.00 2.75 12.75 2.750 2.500 2.335 $469,810.00 N
600071042 SRINIVASAN,ATUL 2.00 2.75 13.13 2.750 2.500 2.335 $265,000.00 N
600071043 ARNOLD,STEVEN D 2.00 2.75 13.13 2.750 2.500 2.335 $486,000.00 N
600071044 LUCAS,WES W 2.00 2.75 13.13 2.750 2.500 2.335 $378,000.00 N
600071045 BAHNAMAN,MICHAEL A 2.00 2.75 13.13 2.750 2.500 2.335 $340,000.00 N
600071053 HODGE,L. D 2.00 2.75 11.50 2.750 2.500 2.335 $217,000.00 N
600071068 BARNES,GARY S 2.00 2.75 11.50 2.750 2.500 2.335 $143,000.00 N
600071069 HOLLOWAY,JAMES 2.00 2.75 11.50 2.750 2.500 2.335 $129,000.00 N
600071077 CARPENTER,RONALD F 2.00 2.75 11.63 2.750 2.500 2.335 $291,665.00 N
600071093 GRUNEWALD,FRED S 2.00 2.75 11.63 2.750 2.500 2.335 $740,000.00 N
600071094 GOODWIN,MARSHALL L 2.00 2.75 11.63 2.750 2.500 2.335 $329,114.00 N
600071095 JENKINS,PAUL W 2.00 2.75 11.63 2.750 2.500 2.335 $375,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071097 MOORE,DONALD W RT 13 BOX 504-L CROSSVILLE TN 38555 $103,454.72
600071098 DOODY,DAVID E 17511 LAKESEDGE TRAIL BAINBRIDGE OH 44022 $280,805.80
600071099 MOTAMED,THOMAS F 4310 QUAIL RUN COURT DUNNVILLE CA 94506 $608,651.14
600071100 SMITH,KEVIN F 48102 PARKLANE COURT CANTON MI 48188 $228,137.52
600071101 MAHONEY,MICHAEL P 325 INGLETON PLACE CASTLE ROC CO 80104 $253,511.51
600071102 BANKS,JANNA M 18 THESTLAND DRIVE SHREWSBURY MA 1545 $158,574.01
600071103 VASILCO,CAROL B 5959 N GREENVIEW CHICAGO IL 60660 $74,807.04
600071105 BOATRIGHT,LINDA S 2435 BEDFORD ST. UN STAMFORD CT 6901 $214,188.03
600071106 ARNEY,TIMOTHY L 25 CASTLEWOOD COUR NASHVILLE TN 37215 $589,467.45
600071107 DAUER,JOHN L 535 STANLEY BIRMINGHAM MI 48009 $330,078.80
600071108 HUDACEK,STEPHEN L 217 THOREAU DRIVE MOOSIC PA 18507 $284,680.22
600071109 CARVALHO-SILVA,FABIO 4331 EDGEMERE DRIVE MARIETTA GA 30062 $347,316.62
600071110 FIELDS,EUGENE 20913 COSTANSO STREET LOS ANGELE CA 91364 $333,340.21
600071111 WILKERSON,ROBYN S 2653 PARKLAWN DR. BRIGHTON MI 48116 $154,860.68
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071097 MOORE,DONALD W 6.625 .250 6.375 .1650 6.210 05/01/2026
600071098 DOODY,DAVID E 6.625 .250 6.375 .1650 6.210 05/01/2026
600071099 MOTAMED,THOMAS F 6.625 .250 6.375 .1650 6.210 04/01/2026
600071100 SMITH,KEVIN F 6.625 .250 6.375 .1650 6.210 03/01/2026
600071101 MAHONEY,MICHAEL P 6.625 .250 6.375 .1650 6.210 04/01/2026
600071102 BANKS,JANNA M 6.625 .250 6.375 .1650 6.210 04/01/2026
600071103 VASILCO,CAROL B 6.625 .250 6.375 .1650 6.210 04/01/2026
600071105 BOATRIGHT,LINDA S 6.625 .250 6.375 .1650 6.210 04/01/2026
600071106 ARNEY,TIMOTHY L 6.625 .250 6.375 .1650 6.210 04/01/2026
600071107 DAUER,JOHN L 6.625 .250 6.375 .1650 6.210 02/01/2026
600071108 HUDACEK,STEPHEN L 6.625 .250 6.375 .1650 6.210 03/01/2026
600071109 CARVALHO-SILVA,FABIO 6.625 .250 6.375 .1650 6.210 01/01/2026
600071110 FIELDS,EUGENE 6.625 .250 6.375 .1650 6.210 12/01/2025
600071111 WILKERSON,ROBYN S 6.625 .250 6.375 .1650 6.210 10/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071097 MOORE,DONALD W 91875280 $672.33 09/01/1997 360
600071098 DOODY,DAVID E 91874870 $1,824.89 09/01/1997 360
600071099 MOTAMED,THOMAS F 91873110 $3,959.68 09/01/1997 360
600071100 SMITH,KEVIN F 91871255 $1,485.52 09/01/1997 360
600071101 MAHONEY,MICHAEL P 91869445 $1,649.13 09/01/1997 360
600071102 BANKS,JANNA M 91869384 $1,031.54 19 09/01/1997 360
600071103 VASILCO,CAROL B 91867584 $486.64 09/01/1997 360
600071105 BOATRIGHT,LINDA S 91865901 $1,393.32 09/01/1997 360
600071106 ARNEY,TIMOTHY L 91863551 $3,841.23 09/01/1997 360
600071107 DAUER,JOHN L 91859840 $2,151.44 09/01/1997 360
600071108 HUDACEK,STEPHEN L 91857666 $1,853.70 09/01/1997 360
600071109 CARVALHO-SILVA,FABIO 91857126 $2,266.06 09/01/1997 360
600071110 FIELDS,EUGENE 91854842 $2,177.06 09/01/1997 360
600071111 WILKERSON,ROBYN S 91844921 $1,014.25 1 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071097 MOORE,DONALD W 2.00 2.75 11.63 2.750 2.500 2.335 $155,000.00 N
600071098 DOODY,DAVID E 2.00 2.75 11.63 2.750 2.500 2.335 $410,000.00 N
600071099 MOTAMED,THOMAS F 2.00 2.75 11.63 2.750 2.500 2.335 $773,000.00 N
600071100 SMITH,KEVIN F 2.00 2.75 11.63 2.750 2.500 2.335 $290,000.00 N
600071101 MAHONEY,MICHAEL P 2.00 2.75 11.63 2.750 2.500 2.335 $321,968.00 N
600071102 BANKS,JANNA M 2.00 2.75 11.63 2.750 2.500 2.335 $179,000.00 N
600071103 VASILCO,CAROL B 2.00 2.75 11.63 2.750 2.500 2.335 $95,000.00 N
600071105 BOATRIGHT,LINDA S 2.00 2.75 11.63 2.750 2.500 2.335 $272,000.00 N
600071106 ARNEY,TIMOTHY L 2.00 2.75 11.63 2.750 2.500 2.335 $845,000.00 N
600071107 DAUER,JOHN L 2.00 2.75 11.63 2.750 2.500 2.335 $480,000.00 N
600071108 HUDACEK,STEPHEN L 2.00 2.75 11.63 2.750 2.500 2.335 $386,000.00 N
600071109 CARVALHO-SILVA,FABIO 2.00 2.75 11.63 2.750 2.500 2.335 $442,400.00 N
600071110 FIELDS,EUGENE 2.00 2.75 11.63 2.750 2.500 2.335 $425,000.00 N
600071111 WILKERSON,ROBYN S 2.00 2.75 12.75 2.750 2.500 2.335 $176,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071112 IHLER,JEROME ( 113 MENDY CT. ENGLEWOOD OH 45322 $183,814.80
600071113 BENARD,GIL J 5410 AUTUMN BREEZE SPRING TX 77379 $73,453.57
600071114 ZAKHARIA,GEORGE F 2848 N CYPRESS CIRCLE WICHITA KS 67226 $237,346.75
600071115 MORETON,JERRY A 7085 MORNINGSIDE COU BRENTWOOD TN 37027 $253,087.45
600071116 ADAMS,J. N 9430 CROSS CREEK WICHITA KS 62706 $312,733.27
600071117 HARRIS,LESTER R 3680 DEER TRAIL DRIV DANVILLE CA 94506 $425,718.15
600071118 KRAMER,MICHAEL L 48893 JEROME SHELBY MI 48315 $195,182.11
600071119 TAYLOR,THOMAS D 23010 S WARMSTONE KATY TX 77494 $82,688.11
600071120 THOMPSON,DAVID P 35 THOMAS NEWTON D WESTBOROUG MA 1581 $243,851.31
600071121 ADAMSON,JON P 1380 CREEK RIDGE CRO ALPHARETTA GA 30202 $292,925.48
600071132 WHITE,BRIAN D 9878 S HOUSTON OAKS DR COLLIERVIL TN 38017 $264,273.12
600071133 CUNNINGHAM,BERNARD E 2673 SHADOW LAKE DRI LAKE ORION MI 48360 $224,580.75
600071134 ANDERSON,JAMES P 1304 NAVAHO DRIVE BRENTWOOD TN 37027 $230,462.57
600071135 DISKIN,JOHN J 166 SUMMIT LANE CHESTER HE PA 19017 $243,945.74
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071112 IHLER,JEROME ( 6.625 .250 6.375 .1650 6.210 09/01/2025
600071113 BENARD,GIL J 6.625 .250 6.375 .1650 6.210 09/01/2025
600071114 ZAKHARIA,GEORGE F 6.625 .250 6.375 .1650 6.210 08/01/2025
600071115 MORETON,JERRY A 6.625 .250 6.375 .1650 6.210 08/01/2025
600071116 ADAMS,J. N 6.625 .250 6.375 .1650 6.210 09/01/2025
600071117 HARRIS,LESTER R 6.625 .250 6.375 .1650 6.210 08/01/2025
600071118 KRAMER,MICHAEL L 6.625 .250 6.375 .1650 6.210 08/01/2025
600071119 TAYLOR,THOMAS D 6.625 .250 6.375 .1650 6.210 07/01/2025
600071120 THOMPSON,DAVID P 6.625 .250 6.375 .1650 6.210 07/01/2025
600071121 ADAMSON,JON P 6.625 .250 6.375 .1650 6.210 08/01/2025
600071132 WHITE,BRIAN D 6.750 .250 6.500 .1650 6.335 09/01/2026
600071133 CUNNINGHAM,BERNARD E 6.750 .250 6.500 .1650 6.335 09/01/2026
600071134 ANDERSON,JAMES P 6.750 .250 6.500 .1650 6.335 03/01/2026
600071135 DISKIN,JOHN J 6.750 .250 6.500 .1650 6.335 03/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071112 IHLER,JEROME ( 91838334 $1,206.35 09/01/1997 360
600071113 BENARD,GIL J 91833238 $481.19 09/01/1997 360
600071114 ZAKHARIA,GEORGE F 91832232 $1,566.20 19 09/01/1997 360
600071115 MORETON,JERRY A 91831976 $1,659.69 09/01/1997 360
600071116 ADAMS,J. N 91830506 $2,048.99 09/01/1997 360
600071117 HARRIS,LESTER R 91826335 $2,791.76 09/01/1997 360
600071118 KRAMER,MICHAEL L 91819055 $1,280.62 09/01/1997 360
600071119 TAYLOR,THOMAS D 91818776 $557.07 09/01/1997 360
600071120 THOMPSON,DAVID P 91818757 $1,600.78 09/01/1997 360
600071121 ADAMSON,JON P 91817772 $1,920.93 09/01/1997 360
600071132 WHITE,BRIAN D 91897016 $1,732.54 09/01/1997 360
600071133 CUNNINGHAM,BERNARD E 91895612 $1,472.32 19 09/01/1997 360
600071134 ANDERSON,JAMES P 91864130 $1,524.21 09/01/1997 360
600071135 DISKIN,JOHN J 91863440 $1,608.52 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071112 IHLER,JEROME ( 2.00 2.75 12.75 2.750 2.500 2.335 $235,500.00 N
600071113 BENARD,GIL J 2.00 2.75 13.13 2.750 2.500 2.335 $236,770.00 N
600071114 ZAKHARIA,GEORGE F 2.00 2.75 13.13 2.750 2.500 2.335 $257,500.00 N
600071115 MORETON,JERRY A 2.00 2.75 13.13 2.750 2.500 2.335 $324,000.00 N
600071116 ADAMS,J. N 2.00 2.75 13.13 2.750 2.500 2.335 $432,500.00 N
600071117 HARRIS,LESTER R 2.00 2.75 13.13 2.750 2.500 2.335 $545,000.00 N
600071118 KRAMER,MICHAEL L 2.00 2.75 13.13 2.750 2.500 2.335 $265,900.00 N
600071119 TAYLOR,THOMAS D 2.00 2.75 13.13 2.750 2.500 2.335 $135,737.00 N
600071120 THOMPSON,DAVID P 2.00 2.75 13.13 2.750 2.500 2.335 $344,900.00 N
600071121 ADAMSON,JON P 2.00 2.75 13.13 2.750 2.500 2.335 $497,500.00 N
600071132 WHITE,BRIAN D 2.00 2.75 11.75 2.750 2.500 2.335 $333,900.00 N
600071133 CUNNINGHAM,BERNARD E 2.00 2.75 11.75 2.750 2.500 2.335 $252,790.00 N
600071134 ANDERSON,JAMES P 2.00 2.75 11.75 2.750 2.500 2.335 $342,000.00 N
600071135 DISKIN,JOHN J 2.00 2.75 11.75 2.750 2.500 2.335 $325,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071136 SLODOWITZ,ROBERT 51 CALHOUN HILL RO WASHINGTON CT 6793 $491,393.12
600071153 CALDWELL,SCOTT A 7484 S CHAPPARAL CIRCL AURORA CO 80016 $338,750.87
600071155 HIGGINS,DAVID W 53 SAIL HARBOR DRI FAIRFIELD CT 6812 $311,642.94
600071156 CARLSON,KATHERINE A 142 FIELDSTONE WAY ERIE PA 16505 $127,407.59
600071157 PROVENCHER,JON M 1721 EAGLEBROOK DR. GENEVA IL 60134 $253,053.77
600071158 MELANCON,TIMOTHY P 206 CHESTNUT OAK DR MANDEVILLE LA 70448 $149,563.21
600071159 CHAFFER,TERRY L 1112 PALMER CT. CRYSTAL LA IL 60014 $214,533.80
600071160 SAVAGE,SUE E 1130 S SCOVILLE OAK PARK IL 60304 $147,844.09
600071161 KANE,TIMOTHY J 379 STANWICH ROAD GREENWICH CT 6830 $545,097.53
600071162 HENSLER,STEPHEN J 7 RAINTREE PLACE THE WOODLA TX 77381 $224,147.44
600071163 KIRKSEY,J.M. 1611 LOUDEN HEIGHTS CHARLESTON WV 25301 $222,223.52
600071164 AYOUB,RICHARD G 145 FLAVELL ROAD GROTON MA 1450 $59,035.59
600071165 DOBROWOLSKI,MICHAEL R 6351 COCOS DRIVE FT MYERS FL 33906 $264,148.24
600071166 PAGE,A. D 1132 SAINT WILLIAM D LIBERTYVIL IL 60048 $397,207.95
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071136 SLODOWITZ,ROBERT 6.750 .250 6.500 .1650 6.335 02/01/2026
600071153 CALDWELL,SCOTT A 6.750 .250 6.500 .1650 6.335 09/01/2026
600071155 HIGGINS,DAVID W 6.750 .250 6.500 .1650 6.335 09/01/2026
600071156 CARLSON,KATHERINE A 6.750 .250 6.500 .1650 6.335 08/01/2026
600071157 PROVENCHER,JON M 6.750 .250 6.500 .1650 6.335 06/01/2026
600071158 MELANCON,TIMOTHY P 6.750 .250 6.500 .1650 6.335 06/01/2026
600071159 CHAFFER,TERRY L 6.750 .250 6.500 .1650 6.335 06/01/2026
600071160 SAVAGE,SUE E 6.750 .250 6.500 .1650 6.335 05/01/2026
600071161 KANE,TIMOTHY J 6.750 .250 6.500 .1650 6.335 07/01/2026
600071162 HENSLER,STEPHEN J 6.750 .250 6.500 .1650 6.335 06/01/2026
600071163 KIRKSEY,J.M. 6.750 .250 6.500 .1650 6.335 06/01/2026
600071164 AYOUB,RICHARD G 6.750 .250 6.500 .1650 6.335 04/01/2026
600071165 DOBROWOLSKI,MICHAEL R 6.750 .250 6.500 .1650 6.335 05/01/2026
600071166 PAGE,A. D 6.750 .250 6.500 .1650 6.335 05/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071136 SLODOWITZ,ROBERT 91859139 $3,242.99 09/01/1997 360
600071153 CALDWELL,SCOTT A 91899259 $2,220.80 09/01/1997 360
600071155 HIGGINS,DAVID W 91897178 $2,043.08 09/01/1997 360
600071156 CARLSON,KATHERINE A 91888510 $836.04 09/01/1997 360
600071157 PROVENCHER,JON M 91883789 $1,663.65 09/01/1997 360
600071158 MELANCON,TIMOTHY P 91882747 $983.27 09/01/1997 360
600071159 CHAFFER,TERRY L 91882058 $1,413.94 09/01/1997 360
600071160 SAVAGE,SUE E 91879872 $972.90 19 09/01/1997 360
600071161 KANE,TIMOTHY J 91879472 $3,580.26 09/01/1997 360
600071162 HENSLER,STEPHEN J 91878642 $1,473.61 09/01/1997 360
600071163 KIRKSEY,J.M. 91877446 $1,460.97 1 09/01/1997 360
600071164 AYOUB,RICHARD G 91873839 $389.16 09/01/1997 360
600071165 DOBROWOLSKI,MICHAEL R 91872512 $1,738.24 09/01/1997 360
600071166 PAGE,A. D 91871264 $2,613.85 1 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071136 SLODOWITZ,ROBERT 2.00 2.75 11.75 2.750 2.500 2.335 $975,000.00 N
600071153 CALDWELL,SCOTT A 2.00 2.75 11.75 2.750 2.500 2.335 $428,000.00 N
600071155 HIGGINS,DAVID W 2.00 2.75 11.75 2.750 2.500 2.335 $452,000.00 N
600071156 CARLSON,KATHERINE A 2.00 2.75 11.75 2.750 2.500 2.335 $161,125.00 N
600071157 PROVENCHER,JON M 2.00 2.75 11.75 2.750 2.500 2.335 $342,000.00 N
600071158 MELANCON,TIMOTHY P 2.00 2.75 11.75 2.750 2.500 2.335 $189,500.00 N
600071159 CHAFFER,TERRY L 2.00 2.75 11.75 2.750 2.500 2.335 $272,500.00 N
600071160 SAVAGE,SUE E 2.00 2.75 11.75 2.750 2.500 2.335 $160,000.00 N
600071161 KANE,TIMOTHY J 2.00 2.75 11.75 2.750 2.500 2.335 $690,000.00 N
600071162 HENSLER,STEPHEN J 2.00 2.75 11.75 2.750 2.500 2.335 $284,000.00 N
600071163 KIRKSEY,J.M. 2.00 2.75 11.75 2.750 2.500 2.335 $265,000.00 N
600071164 AYOUB,RICHARD G 2.00 2.75 11.75 2.750 2.500 2.335 $140,000.00 N
600071165 DOBROWOLSKI,MICHAEL R 2.00 2.75 11.75 2.750 2.500 2.335 $335,000.00 N
600071166 PAGE,A. D 2.00 2.75 11.75 2.750 2.500 2.335 $475,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071167 MARTIN,DESIREE M 3200 LAKEWOOD EDGE CHARLOTTE NC 28269 $327,180.03
600071168 BAIRD,MAUREEN P 4011 SW139TH STREET R OCALA FL 34473 $104,500.08
600071169 DISKIN,JOHN J 110 HOWARD STREET CAPE MAY NJ 8204 $243,945.69
600071171 PISHKO,DAVID A 14821 E SUNDANCE WICHITA KS 67230 $260,658.85
600071172 CANNELL,JOHN R 5 HOLLY WOODS ROA TOWN OF MA MA 2739 $325,257.18
600071173 HEADLEYJR,CLAYTON E 11 POSADA IRVINE CA 92714 $251,593.27
600071175 GANGULI,NITU 28204 N BEL MONTE CRT SANTA CLAR CA 91351 $199,891.28
600071176 SCHUMACHER,JAMES G 5809 ASCOT GLEN RICHMOND VA 23201 $272,033.23
600071177 ALBERS,THOMAS H 5741 LENGWOOD DRIVE CINCINNATI OH 45244 $273,811.97
600071178 SKORCZ,CHRISTOPHER S 17 MOMROW TERRACE MENANDS NY 12204 $146,189.15
600071179 MOTTO,WILLIAM J 8525 CAMARGO CLUB DR CINCINNATI OH 45243 $768,771.70
600071180 HABER,DARRELL A 310 SHADOW FALLS DR MARTINEZ CA 94553 $210,506.88
600071181 RUYAN,JERRY L 8730 RED FOX LANE CINCINNATI OH 45243 $822,610.21
600071182 KRAEUTLER,JOHN A 665 BALBRIGGAN CT. CINCINNATI OH 45255 $277,669.96
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071167 MARTIN,DESIREE M 6.750 .250 6.500 .1650 6.335 05/01/2026
600071168 BAIRD,MAUREEN P 6.750 .250 6.500 .1650 6.335 04/01/2026
600071169 DISKIN,JOHN J 6.750 .250 6.500 .1650 6.335 03/01/2026
600071171 PISHKO,DAVID A 6.750 .250 6.500 .1650 6.335 06/01/2026
600071172 CANNELL,JOHN R 6.750 .250 6.500 .1650 6.335 05/01/2026
600071173 HEADLEYJR,CLAYTON E 6.750 .250 6.500 .1650 6.335 02/01/2026
600071175 GANGULI,NITU 6.750 .250 6.500 .1650 6.335 04/01/2026
600071176 SCHUMACHER,JAMES G 6.750 .250 6.500 .1650 6.335 05/01/2026
600071177 ALBERS,THOMAS H 6.750 .250 6.500 .1650 6.335 01/01/2026
600071178 SKORCZ,CHRISTOPHER S 6.750 .250 6.500 .1650 6.335 02/01/2026
600071179 MOTTO,WILLIAM J 6.750 .250 6.500 .1650 6.335 01/01/2026
600071180 HABER,DARRELL A 6.750 .250 6.500 .1650 6.335 12/01/2025
600071181 RUYAN,JERRY L 6.750 .250 6.500 .1650 6.335 01/01/2026
600071182 KRAEUTLER,JOHN A 6.750 .250 6.500 .1650 6.335 01/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071167 MARTIN,DESIREE M 91870435 $2,153.03 19 09/01/1997 360
600071168 BAIRD,MAUREEN P 91866017 $690.11 19 09/01/1997 360
600071169 DISKIN,JOHN J 91863433 $1,608.52 09/01/1997 360
600071171 PISHKO,DAVID A 91862372 $1,732.08 09/01/1997 360
600071172 CANNELL,JOHN R 91861480 $2,140.37 09/01/1997 360
600071173 HEADLEYJR,CLAYTON E 91861091 $1,660.41 14 09/01/1997 360
600071175 GANGULI,NITU 91859942 $1,316.65 09/01/1997 360
600071176 SCHUMACHER,JAMES G 91859708 $1,790.13 09/01/1997 360
600071177 ALBERS,THOMAS H 91857245 $1,816.07 09/01/1997 360
600071178 SKORCZ,CHRISTOPHER S 91856777 $964.79 1 09/01/1997 360
600071179 MOTTO,WILLIAM J 91856430 $5,078.52 09/01/1997 360
600071180 HABER,DARRELL A 91856420 $1,399.68 2 09/01/1997 360
600071181 RUYAN,JERRY L 91856406 $5,837.38 09/01/1997 360
600071182 KRAEUTLER,JOHN A 91853896 $1,848.50 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071167 MARTIN,DESIREE M 2.00 2.75 11.75 2.750 2.500 2.335 $368,951.00 N
600071168 BAIRD,MAUREEN P 2.00 2.75 11.75 2.750 2.500 2.335 $112,000.00 N
600071169 DISKIN,JOHN J 2.00 2.75 11.75 2.750 2.500 2.335 $385,000.00 N
600071171 PISHKO,DAVID A 2.00 2.75 11.75 2.750 2.500 2.335 $333,868.85 N
600071172 CANNELL,JOHN R 2.00 2.75 11.75 2.750 2.500 2.335 $850,000.00 N
600071173 HEADLEYJR,CLAYTON E 2.00 2.75 11.75 2.750 2.500 2.335 $269,500.00 N
600071175 GANGULI,NITU 2.00 2.75 11.75 2.750 2.500 2.335 $257,359.00 N
600071176 SCHUMACHER,JAMES G 2.00 2.75 11.75 2.750 2.500 2.335 $345,098.96 N
600071177 ALBERS,THOMAS H 2.00 2.75 11.75 2.750 2.500 2.335 $350,000.00 N
600071178 SKORCZ,CHRISTOPHER S 2.00 2.75 11.75 2.750 2.500 2.335 $175,000.00 N
600071179 MOTTO,WILLIAM J 2.00 2.75 11.75 2.750 2.500 2.335 $2,200,000.00 N
600071180 HABER,DARRELL A 2.00 2.75 11.75 2.750 2.500 2.335 $227,159.00 N
600071181 RUYAN,JERRY L 2.00 2.75 11.75 2.750 2.500 2.335 $1,725,000.00 N
600071182 KRAEUTLER,JOHN A 2.00 2.75 11.75 2.750 2.500 2.335 $475,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071183 NICHOLS,MARK L 111 RUSTIC LANE GALLATIN TN 37066 $124,981.09
600071184 CRANE,IAN R 1510 HOLLEY RIVER HOUSTON TX 77077 $162,822.41
600071185 FOWLER,JOHN P 1 EDGEHILL RD BROOKLINE MA 2146 $468,845.90
600071186 BELHUMEUR,PETER N 656 MILL PLAIN ROAD FAIRFIELD CT 6430 $246,193.31
600071187 GREEN,BRYAN J 2016 GLASTONBURY DR. FRANKLIN TN 37069 $125,240.86
600071188 FINKELSTEIN,HOWARD M 22 GUINEA ROAD GREENWICH CT 6830 $878,370.71
600071189 DIAMOND,DANIEL L SEATON ROAD UNIONTOWN PA 15401 $105,404.39
600071190 PIERCE,NORMAN A 10 AJA LANE NEW MILFOR CT 6776 $170,915.58
600071191 ANDERSON,GEORGE M 35 S STREET BETHEL DE 19931 $131,728.98
600071205 SALEM,YOUSEF H 5407 BACKLICK WOODS SPRINGFIEL VA 22151 $304,569.02
600071208 LOVELESS,THOMAS J 2730 SPENCER LANE BROOKFIELD WI 53045 $321,536.39
600071219 BEEKLEY,JEFFREY A 10658 HYACINTH LANE HIGHLANDS CO 80126 $118,849.60
600071221 VIANDS,LAWRENCE O 15693 N 103RD WAY SCOTTSDALE AZ 85259 $163,980.58
600071222 THEILER,MATTHEW J 285 SADDLER ROAD BAY VILLAG OH 44140 $151,369.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071183 NICHOLS,MARK L 6.750 .250 6.500 .1650 6.335 09/01/2025
600071184 CRANE,IAN R 6.750 .250 6.500 .1650 6.335 09/01/2025
600071185 FOWLER,JOHN P 6.750 .250 6.500 .1650 6.335 08/01/2025
600071186 BELHUMEUR,PETER N 6.750 .250 6.500 .1650 6.335 08/01/2025
600071187 GREEN,BRYAN J 6.750 .250 6.500 .1650 6.335 08/01/2025
600071188 FINKELSTEIN,HOWARD M 6.750 .250 6.500 .1650 6.335 07/01/2025
600071189 DIAMOND,DANIEL L 6.750 .250 6.500 .1650 6.335 07/01/2025
600071190 PIERCE,NORMAN A 6.750 .250 6.500 .1650 6.335 08/01/2025
600071191 ANDERSON,GEORGE M 6.750 .250 6.500 .1650 6.335 09/01/2025
600071205 SALEM,YOUSEF H 6.750 .250 6.500 .1650 6.335 09/01/2026
600071208 LOVELESS,THOMAS J 6.750 .250 6.500 .1650 6.335 09/01/2026
600071219 BEEKLEY,JEFFREY A 6.750 .250 6.500 .1650 6.335 09/01/2026
600071221 VIANDS,LAWRENCE O 6.750 .250 6.500 .1650 6.335 09/01/2026
600071222 THEILER,MATTHEW J 6.750 .250 6.500 .1650 6.335 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071183 NICHOLS,MARK L 91835193 $828.91 2 09/01/1997 360
600071184 CRANE,IAN R 91829471 $1,079.92 19 09/01/1997 360
600071185 FOWLER,JOHN P 91829114 $3,113.27 09/01/1997 360
600071186 BELHUMEUR,PETER N 91824836 $1,634.47 09/01/1997 360
600071187 GREEN,BRYAN J 91824685 $831.50 19 09/01/1997 360
600071188 FINKELSTEIN,HOWARD M 91820214 $5,837.38 09/01/1997 360
600071189 DIAMOND,DANIEL L 91820195 $700.49 09/01/1997 360
600071190 PIERCE,NORMAN A 91816521 $1,135.05 09/01/1997 360
600071191 ANDERSON,GEORGE M 91815477 $873.66 09/01/1997 360
600071205 SALEM,YOUSEF H 91899368 $1,996.71 09/01/1997 360
600071208 LOVELESS,THOMAS J 91895312 $2,107.94 09/01/1997 360
600071219 BEEKLEY,JEFFREY A 91897541 $783.51 09/01/1997 360
600071221 VIANDS,LAWRENCE O 91893403 $1,075.03 19 09/01/1997 360
600071222 THEILER,MATTHEW J 91893399 $992.36 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071183 NICHOLS,MARK L 2.00 2.75 12.75 2.750 2.500 2.335 $142,000.00 N
600071184 CRANE,IAN R 2.00 2.75 13.13 2.750 2.500 2.335 $187,000.00 N
600071185 FOWLER,JOHN P 2.00 2.75 13.13 2.750 2.500 2.335 $650,000.00 N
600071186 BELHUMEUR,PETER N 2.00 2.75 13.13 2.750 2.500 2.335 $320,000.00 N
600071187 GREEN,BRYAN J 2.00 2.75 13.13 2.750 2.500 2.335 $134,975.00 N
600071188 FINKELSTEIN,HOWARD M 2.00 2.75 13.13 2.750 2.500 2.335 $1,700,000.00 N
600071189 DIAMOND,DANIEL L 2.00 2.75 13.13 2.750 2.500 2.335 $135,000.00 N
600071190 PIERCE,NORMAN A 2.00 2.75 13.13 2.750 2.500 2.335 $231,915.00 N
600071191 ANDERSON,GEORGE M 2.00 2.75 13.13 2.750 2.500 2.335 $235,000.00 N
600071205 SALEM,YOUSEF H 2.00 2.75 11.75 2.750 2.500 2.335 $410,500.00 N
600071208 LOVELESS,THOMAS J 2.00 2.75 11.75 2.750 2.500 2.335 $408,000.00 N
600071219 BEEKLEY,JEFFREY A 2.00 2.75 11.75 2.750 2.500 2.335 $151,000.00 N
600071221 VIANDS,LAWRENCE O 2.00 2.75 11.75 2.750 2.500 2.335 $185,747.00 N
600071222 THEILER,MATTHEW J 2.00 2.75 11.75 2.750 2.500 2.335 $170,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071223 YOUNG,TIMOTHY F 8574 TWILIGHT TEAR L CINCINNATI OH 45249 $358,141.93
600071224 REICHARD,JEFFREY W 3035 N WINDSOR CT. WESTLAKE OH 44145 $494,671.26
600071225 LAXER,RICHARD A 245 WINDSOR GATE CO ATLANTA GA 30342 $284,508.30
600071228 MORRISONJR.,HAROLD L 3010 224TH AVENUE N. REDMOND WA 98053 $271,643.76
600071229 COENEN,DOUGLAS W 146 E WINDROSE WAY RICHBORO PA 18954 $254,172.69
600071230 CASELLA,JOHN F 21 UNIVERSITY CIRC HAWTHORNE IL 60047 $306,774.36
600071231 BEST,MICHAEL H 463 WELLS HILL ROAD SALISBURY CT 6039 $511,741.57
600071232 BOLZE,STEPHEN R 22 LOUDON HEIGHTS LOUDONVILL NY 12211 $287,877.20
600071233 HO,RAIMUNDO 66 QUEEN STREET HONOLULU HI 96813 $351,822.36
600071257 MCGREGOR,MARY K 25470 WAGON WHEEL CT BARRINGTON IL 60010 $419,588.14
600071259 LOHRMAN,RICHARD D 7402 WHISPERING OAK SYLVANIA OH 43560 $220,665.12
600071261 PORTER,AMY 393 BERLIN RD BOLTON MA 1740 $285,516.43
600071263 SEMANDS,DENISE F 3105 JAMIN PAUL EDMOND OK 73013 $276,834.62
600071264 CHRISTY,MICHAEL P 6120 PINTER COURT WEST CHEST OH 45069 $290,676.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071223 YOUNG,TIMOTHY F 6.750 .250 6.500 .1650 6.335 09/01/2026
600071224 REICHARD,JEFFREY W 6.750 .250 6.500 .1650 6.335 09/01/2026
600071225 LAXER,RICHARD A 6.750 .250 6.500 .1650 6.335 06/01/2026
600071228 MORRISONJR.,HAROLD L 6.875 .250 6.625 .1650 6.460 09/01/2026
600071229 COENEN,DOUGLAS W 6.875 .250 6.625 .1650 6.460 09/01/2026
600071230 CASELLA,JOHN F 6.875 .250 6.625 .1650 6.460 09/01/2026
600071231 BEST,MICHAEL H 6.875 .250 6.625 .1650 6.460 03/01/2026
600071232 BOLZE,STEPHEN R 6.875 .250 6.625 .1650 6.460 02/01/2026
600071233 HO,RAIMUNDO 6.875 .250 6.625 .1650 6.460 03/01/2026
600071257 MCGREGOR,MARY K 6.875 .250 6.625 .1650 6.460 09/01/2026
600071259 LOHRMAN,RICHARD D 6.875 .250 6.625 .1650 6.460 09/01/2026
600071261 PORTER,AMY 6.875 .250 6.625 .1650 6.460 09/01/2026
600071263 SEMANDS,DENISE F 6.875 .250 6.625 .1650 6.460 08/01/2026
600071264 CHRISTY,MICHAEL P 6.875 .250 6.625 .1650 6.460 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071223 YOUNG,TIMOTHY F 91893395 $2,347.93 09/01/1997 360
600071224 REICHARD,JEFFREY W 91883909 $3,242.99 09/01/1997 360
600071225 LAXER,RICHARD A 91858085 $1,871.85 09/01/1997 360
600071228 MORRISONJR.,HAROLD L 91898629 $1,803.27 19 09/01/1997 360
600071229 COENEN,DOUGLAS W 91898360 $1,690.93 09/01/1997 360
600071230 CASELLA,JOHN F 91898215 $2,036.48 2 09/01/1997 360
600071231 BEST,MICHAEL H 91861956 $3,416.03 09/01/1997 360
600071232 BOLZE,STEPHEN R 91855106 $1,923.49 09/01/1997 360
600071233 HO,RAIMUNDO 91853421 $2,348.52 09/01/1997 360
600071257 MCGREGOR,MARY K 92400339 $2,785.38 09/01/1997 360
600071259 LOHRMAN,RICHARD D 91898818 $1,466.27 09/01/1997 360
600071261 PORTER,AMY 91896751 $1,905.09 09/01/1997 360
600071263 SEMANDS,DENISE F 91894743 $1,839.40 09/01/1997 360
600071264 CHRISTY,MICHAEL P 91894549 $1,931.37 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071223 YOUNG,TIMOTHY F 2.00 2.75 11.75 2.750 2.500 2.335 $502,000.00 N
600071224 REICHARD,JEFFREY W 2.00 2.75 11.75 2.750 2.500 2.335 $655,000.00 N
600071225 LAXER,RICHARD A 2.00 2.75 11.75 2.750 2.500 2.335 $361,000.00 N
600071228 MORRISONJR.,HAROLD L 2.00 2.75 11.88 2.750 2.500 2.335 $305,000.00 N
600071229 COENEN,DOUGLAS W 2.00 2.75 11.88 2.750 2.500 2.335 $321,750.00 N
600071230 CASELLA,JOHN F 2.00 2.75 11.88 2.750 2.500 2.335 $360,000.00 N
600071231 BEST,MICHAEL H 2.00 2.75 11.88 2.750 2.500 2.335 $806,000.00 N
600071232 BOLZE,STEPHEN R 2.00 2.75 11.88 2.750 2.500 2.335 $366,000.00 N
600071233 HO,RAIMUNDO 2.00 2.75 11.88 2.750 2.500 2.335 $446,999.00 N
600071257 MCGREGOR,MARY K 2.00 2.75 11.88 2.750 2.500 2.335 $530,000.00 N
600071259 LOHRMAN,RICHARD D 2.00 2.75 11.88 2.750 2.500 2.335 $279,000.00 N
600071261 PORTER,AMY 2.00 2.75 11.88 2.750 2.500 2.335 $375,000.00 N
600071263 SEMANDS,DENISE F 2.00 2.75 11.88 2.750 2.500 2.335 $350,000.00 N
600071264 CHRISTY,MICHAEL P 2.00 2.75 11.88 2.750 2.500 2.335 $368,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071265 MACASKILL,MAYNARD 42 GOVERNORS LANE PRINCETON NJ 8540 $277,086.54
600071267 YARASAVAGE,ALBERT M 9410 WHITTINGHAM DRI BRENTWOOD TN 37027 $240,011.81
600071268 MCKEY,AARON 12560 HOWLIND PARK DR PLYMOUTH MI 48170 $311,811.32
600071269 HAMILTON,ERIC R 3808 RUBEN SIMPSON C FAIRFAX VA 22033 $224,701.40
600071270 CORNFELD,ELEANOR 27 FORREST HILLS D VOORHEES NJ 8043 $290,169.45
600071271 ORMAN,MICHAEL P 18 MINERS POINT ACWORTH GA 30102 $93,075.09
600071272 BEACH,KEVIN J 1055 HILLCREST DRIVE UPLAND CA 91786 $305,489.56
600071273 WHITNEY,ROBERT C 1609 SW. FREDRICK LEES SUMMI MO 64081 $113,040.83
600071274 MITCHELL,KENNETH D 1212 N LASALLE UNIT CHICAGO IL 60610 $70,693.64
600071275 MCMULLEN,JOSEPH M 305 ROUNDHILL COVE NASHVILLE TN 37211 $104,181.90
600071276 JOHNSON,MELVIN L 10919 RUNNING TIDE CO INDIANAPOL IN 46236 $303,959.05
600071277 EMERSON,STEVEN A 94 PRISCILLA DRIVE MIDDLETOWN NJ 7748 $216,570.82
600071279 COCKLEY,LINDA S 959W AVENUE SPRINGFIEL PA 19064 $129,993.15
600071281 HIGGINS,KEVIN M 4 LOS MONTEROS MONARCH BE CA 92629 $321,424.46
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071265 MACASKILL,MAYNARD 6.875 .250 6.625 .1650 6.460 09/01/2026
600071267 YARASAVAGE,ALBERT M 6.875 .250 6.625 .1650 6.460 06/01/2026
600071268 MCKEY,AARON 6.875 .250 6.625 .1650 6.460 05/01/2026
600071269 HAMILTON,ERIC R 6.875 .250 6.625 .1650 6.460 05/01/2026
600071270 CORNFELD,ELEANOR 6.875 .250 6.625 .1650 6.460 05/01/2026
600071271 ORMAN,MICHAEL P 6.875 .250 6.625 .1650 6.460 05/01/2026
600071272 BEACH,KEVIN J 6.875 .250 6.625 .1650 6.460 05/01/2026
600071273 WHITNEY,ROBERT C 6.875 .250 6.625 .1650 6.460 05/01/2026
600071274 MITCHELL,KENNETH D 6.875 .250 6.625 .1650 6.460 05/01/2026
600071275 MCMULLEN,JOSEPH M 6.875 .250 6.625 .1650 6.460 05/01/2026
600071276 JOHNSON,MELVIN L 6.875 .250 6.625 .1650 6.460 06/01/2026
600071277 EMERSON,STEVEN A 6.875 .250 6.625 .1650 6.460 06/01/2026
600071279 COCKLEY,LINDA S 6.875 .250 6.625 .1650 6.460 05/01/2026
600071281 HIGGINS,KEVIN M 6.875 .250 6.625 .1650 6.460 05/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071265 MACASKILL,MAYNARD 91894477 $1,839.40 09/01/1997 360
600071267 YARASAVAGE,ALBERT M 91879261 $1,642.32 09/01/1997 360
600071268 MCKEY,AARON 91879116 $2,077.54 09/01/1997 360
600071269 HAMILTON,ERIC R 91879060 $1,497.14 19 09/01/1997 360
600071270 CORNFELD,ELEANOR 91878545 $1,933.34 19 09/01/1997 360
600071271 ORMAN,MICHAEL P 91878248 $620.14 19 09/01/1997 360
600071272 BEACH,KEVIN J 91878081 $2,036.48 09/01/1997 360
600071273 WHITNEY,ROBERT C 91878050 $753.17 1 09/01/1997 360
600071274 MITCHELL,KENNETH D 91877450 $471.02 1 09/01/1997 360
600071275 MCMULLEN,JOSEPH M 91877231 $696.34 09/01/1997 360
600071276 JOHNSON,MELVIN L 91877147 $2,023.34 09/01/1997 360
600071277 EMERSON,STEVEN A 91876478 $1,441.63 2 09/01/1997 360
600071279 COCKLEY,LINDA S 91874559 $893.42 09/01/1997 360
600071281 HIGGINS,KEVIN M 91873568 $2,141.59 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071265 MACASKILL,MAYNARD 2.00 2.75 11.88 2.750 2.500 2.335 $350,000.00 N
600071267 YARASAVAGE,ALBERT M 2.00 2.75 11.88 2.750 2.500 2.335 $375,000.00 N
600071268 MCKEY,AARON 2.00 2.75 11.88 2.750 2.500 2.335 $395,340.00 N
600071269 HAMILTON,ERIC R 2.00 2.75 11.88 2.750 2.500 2.335 $253,250.00 N
600071270 CORNFELD,ELEANOR 2.00 2.75 11.88 2.750 2.500 2.335 $327,000.00 N
600071271 ORMAN,MICHAEL P 2.00 2.75 11.88 2.750 2.500 2.335 $104,900.00 N
600071272 BEACH,KEVIN J 2.00 2.75 11.88 2.750 2.500 2.335 $387,500.00 N
600071273 WHITNEY,ROBERT C 2.00 2.75 11.88 2.750 2.500 2.335 $120,700.00 N
600071274 MITCHELL,KENNETH D 2.00 2.75 11.88 2.750 2.500 2.335 $75,500.00 N
600071275 MCMULLEN,JOSEPH M 2.00 2.75 11.88 2.750 2.500 2.335 $135,000.00 N
600071276 JOHNSON,MELVIN L 2.00 2.75 11.88 2.750 2.500 2.335 $385,000.00 N
600071277 EMERSON,STEVEN A 2.00 2.75 11.88 2.750 2.500 2.335 $231,000.00 N
600071279 COCKLEY,LINDA S 2.00 2.75 11.88 2.750 2.500 2.335 $170,000.00 N
600071281 HIGGINS,KEVIN M 2.00 2.75 11.88 2.750 2.500 2.335 $546,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071282 BLAKE,MARSHALL 142 GREAT HILL ROAD CORNWALL CT 6759 $350,017.44
600071283 OWENS,THEODORE D 15 ESTERNAY DRIVE FOOTHILL R CA 92610 $220,245.99
600071284 GOULD,NORMAN L 5977 MERGENTHAL DRIV ST. CHARLE MO 63304 $172,149.40
600071285 HAMILTON,TIMOTHY M 278 PRINCETON AVENU MILL VALLE CA 94941 $359,541.16
600071286 FORMISANO,ROBERT J 14 5TH STREET PETALUMA CA 94952 $311,273.90
600071287 FORMISANO,ROBERT J 135 SPUR CLOSE SEA RANCH CA 95497 $453,120.39
600071288 ROLANDJR.,SANFORD J 123 DRUM HILL ROAD WILTON CT 6897 $492,522.19
600071289 LITTLE,LUTHER 10836 BITTERSWEET LAN FISHERS IN 46038 $171,548.54
600071290 WEINBERG,HOWARD C 484 SUTCLIFFE CIRCL VERNON HIL IL 60061 $221,634.94
600071291 HARAMIS,PETER 90 SANTA PAULA AVE SAN FRANCI CA 94127 $826,659.52
600071292 RADTKEII,WILLIAM P 6541 HIGH DRIVE MISSION HI KS 66208 $243,569.29
600071293 MOCIUN,MELANIE 437 MOLINO MILL VALLE CA 94941 $246,531.23
600071294 RUARK,RUDY E 515 BELLE MEADE BLV NASHVILLE TN 37205 $516,662.11
600071295 DIGATE,CHARLES J 318 BRAYTON POINT R WESTPORT MA 2790 $334,894.19
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071282 BLAKE,MARSHALL 6.875 .250 6.625 .1650 6.460 05/01/2026
600071283 OWENS,THEODORE D 6.875 .250 6.625 .1650 6.460 04/01/2026
600071284 GOULD,NORMAN L 6.875 .250 6.625 .1650 6.460 05/01/2026
600071285 HAMILTON,TIMOTHY M 6.875 .250 6.625 .1650 6.460 04/01/2026
600071286 FORMISANO,ROBERT J 6.875 .250 6.625 .1650 6.460 04/01/2026
600071287 FORMISANO,ROBERT J 6.875 .250 6.625 .1650 6.460 04/01/2026
600071288 ROLANDJR.,SANFORD J 6.875 .250 6.625 .1650 6.460 04/01/2026
600071289 LITTLE,LUTHER 6.875 .250 6.625 .1650 6.460 04/01/2026
600071290 WEINBERG,HOWARD C 6.875 .250 6.625 .1650 6.460 04/01/2026
600071291 HARAMIS,PETER 6.875 .250 6.625 .1650 6.460 03/01/2026
600071292 RADTKEII,WILLIAM P 6.875 .250 6.625 .1650 6.460 03/01/2026
600071293 MOCIUN,MELANIE 6.875 .250 6.625 .1650 6.460 03/01/2026
600071294 RUARK,RUDY E 6.875 .250 6.625 .1650 6.460 03/01/2026
600071295 DIGATE,CHARLES J 6.875 .250 6.625 .1650 6.460 04/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071282 BLAKE,MARSHALL 91873200 $2,332.10 09/01/1997 360
600071283 OWENS,THEODORE D 91872501 $1,468.83 09/01/1997 360
600071284 GOULD,NORMAN L 91871772 $1,147.00 19 09/01/1997 360
600071285 HAMILTON,TIMOTHY M 91870956 $2,397.79 09/01/1997 360
600071286 FORMISANO,ROBERT J 91868917 $2,075.90 09/01/1997 360
600071287 FORMISANO,ROBERT J 91868914 $3,021.87 09/01/1997 360
600071288 ROLANDJR.,SANFORD J 91868058 $3,284.64 09/01/1997 360
600071289 LITTLE,LUTHER 91867851 $1,147.00 19 09/01/1997 360
600071290 WEINBERG,HOWARD C 91867363 $1,478.09 09/01/1997 360
600071291 HARAMIS,PETER 91866278 $5,518.20 09/01/1997 360
600071292 RADTKEII,WILLIAM P 91863956 $1,625.90 09/01/1997 360
600071293 MOCIUN,MELANIE 91863617 $1,648.89 09/01/1997 360
600071294 RUARK,RUDY E 91863548 $3,448.88 09/01/1997 360
600071295 DIGATE,CHARLES J 91863226 $2,233.56 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071282 BLAKE,MARSHALL 2.00 2.75 11.88 2.750 2.500 2.335 $800,000.00 N
600071283 OWENS,THEODORE D 2.00 2.75 11.88 2.750 2.500 2.335 $279,863.00 N
600071284 GOULD,NORMAN L 2.00 2.75 11.88 2.750 2.500 2.335 $194,000.00 N
600071285 HAMILTON,TIMOTHY M 2.00 2.75 11.88 2.750 2.500 2.335 $690,000.00 N
600071286 FORMISANO,ROBERT J 2.00 2.75 11.88 2.750 2.500 2.335 $395,000.00 N
600071287 FORMISANO,ROBERT J 2.00 2.75 11.88 2.750 2.500 2.335 $575,000.00 N
600071288 ROLANDJR.,SANFORD J 2.00 2.75 11.88 2.750 2.500 2.335 $825,000.00 N
600071289 LITTLE,LUTHER 2.00 2.75 11.88 2.750 2.500 2.335 $194,000.00 N
600071290 WEINBERG,HOWARD C 2.00 2.75 11.88 2.750 2.500 2.335 $300,000.00 N
600071291 HARAMIS,PETER 2.00 2.75 11.88 2.750 2.500 2.335 $1,200,000.00 N
600071292 RADTKEII,WILLIAM P 2.00 2.75 11.88 2.750 2.500 2.335 $330,000.00 N
600071293 MOCIUN,MELANIE 2.00 2.75 11.88 2.750 2.500 2.335 $335,000.00 N
600071294 RUARK,RUDY E 2.00 2.75 11.88 2.750 2.500 2.335 $915,000.00 N
600071295 DIGATE,CHARLES J 2.00 2.75 11.88 2.750 2.500 2.335 $425,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071296 WINER,CAROLE A 3 OLD SHERMAN HIL TOWN OF WO CT 6798 $492,522.19
600071297 MCKENZIE,ANDREW M 2 SHAUGER TERRACE HARDYSTON NJ 7419 $172,220.61
600071298 FRIEDMAN,RICK A 4878 LEBLOND AVENUE CINCINNATI OH 45208 $235,502.59
600071299 KRATZ,DAVID 818 HILL STREET SOUTHHAMPT NY 11968 $112,926.22
600071300 BARMAND,SIAVASH 321 SAN RAFAEL AVEN BELVEDERE CA 94920 $417,456.57
600071301 HARPLEJR.,DANIEL L 1 HALL DRIVE DILLSBURG PA 17019 $314,917.92
600071302 LEMPERT,HAMILTON H 406 MEADOW LANE CINCINNATI OH 45215 $207,055.81
600071303 PETERSON,JEFFREY C 308 E MITCHELL DR PHOENIX AZ 85012 $69,618.70
600071304 LONDON,DONTE R 12109 SNOWDEN WOODS R LAUREL MD 20708 $227,200.38
600071305 SHAVE,COLIN J 8435 LAZY OAKS COURT DUNWOODY GA 30350 $440,303.03
600071306 LOW JR,THEODORE C 60 HILLRISE DOVE CANYO CA 92769 $292,708.41
600071307 MEEHAN,EDWARD J 2334 ROAT DRIVE ORLANDO FL 32835 $244,612.82
600071308 MEADOWS,MICHAEL J 5433 VICENZA WAY SAN JOSE CA 95138 $503,562.99
600071309 BRUNEY,CHARLES M 4001 AMBERFIELD CIRC NORCROSS GA 30092 $273,030.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071296 WINER,CAROLE A 6.875 .250 6.625 .1650 6.460 04/01/2026
600071297 MCKENZIE,ANDREW M 6.875 .250 6.625 .1650 6.460 03/01/2026
600071298 FRIEDMAN,RICK A 6.875 .250 6.625 .1650 6.460 01/01/2026
600071299 KRATZ,DAVID 6.875 .250 6.625 .1650 6.460 04/01/2026
600071300 BARMAND,SIAVASH 6.875 .250 6.625 .1650 6.460 01/01/2026
600071301 HARPLEJR.,DANIEL L 6.875 .250 6.625 .1650 6.460 03/01/2026
600071302 LEMPERT,HAMILTON H 6.875 .250 6.625 .1650 6.460 02/01/2026
600071303 PETERSON,JEFFREY C 6.875 .250 6.625 .1650 6.460 04/01/2026
600071304 LONDON,DONTE R 6.875 .250 6.625 .1650 6.460 04/01/2026
600071305 SHAVE,COLIN J 6.875 .250 6.625 .1650 6.460 09/01/2025
600071306 LOW JR,THEODORE C 6.875 .250 6.625 .1650 6.460 09/01/2025
600071307 MEEHAN,EDWARD J 6.875 .250 6.625 .1650 6.460 09/01/2025
600071308 MEADOWS,MICHAEL J 6.875 .250 6.625 .1650 6.460 11/01/2025
600071309 BRUNEY,CHARLES M 6.875 .250 6.625 .1650 6.460 08/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071296 WINER,CAROLE A 91862936 $3,284.64 09/01/1997 360
600071297 MCKENZIE,ANDREW M 91861376 $1,149.63 09/01/1997 360
600071298 FRIEDMAN,RICK A 91860490 $1,576.63 09/01/1997 360
600071299 KRATZ,DAVID 91859385 $1,445.24 09/01/1997 360
600071300 BARMAND,SIAVASH 91857715 $2,791.95 09/01/1997 360
600071301 HARPLEJR.,DANIEL L 91856974 $2,102.17 09/01/1997 360
600071302 LEMPERT,HAMILTON H 91855752 $1,397.94 09/01/1997 360
600071303 PETERSON,JEFFREY C 91841396 $471.35 09/01/1997 360
600071304 LONDON,DONTE R 91840911 $1,515.21 1 09/01/1997 360
600071305 SHAVE,COLIN J 91834707 $2,956.18 09/01/1997 360
600071306 LOW JR,THEODORE C 91833158 $1,965.24 19 09/01/1997 360
600071307 MEEHAN,EDWARD J 91830032 $1,642.32 09/01/1997 360
600071308 MEADOWS,MICHAEL J 91828634 $3,374.31 09/01/1997 360
600071309 BRUNEY,CHARLES M 91828226 $1,836.12 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071296 WINER,CAROLE A 2.00 2.75 11.88 2.750 2.500 2.335 $855,000.00 N
600071297 MCKENZIE,ANDREW M 2.00 2.75 11.88 2.750 2.500 2.335 $242,000.00 N
600071298 FRIEDMAN,RICK A 2.00 2.75 11.88 2.750 2.500 2.335 $300,000.00 N
600071299 KRATZ,DAVID 2.00 2.75 11.88 2.750 2.500 2.335 $470,000.00 N
600071300 BARMAND,SIAVASH 2.00 2.75 11.88 2.750 2.500 2.335 $570,000.00 N
600071301 HARPLEJR.,DANIEL L 2.00 2.75 11.88 2.750 2.500 2.335 $410,000.00 N
600071302 LEMPERT,HAMILTON H 2.00 2.75 11.88 2.750 2.500 2.335 $266,000.00 N
600071303 PETERSON,JEFFREY C 2.00 2.75 11.88 2.750 2.500 2.335 $89,730.00 N
600071304 LONDON,DONTE R 2.00 2.75 11.88 2.750 2.500 2.335 $242,815.00 N
600071305 SHAVE,COLIN J 2.00 2.75 13.13 2.750 2.500 2.335 $620,000.00 N
600071306 LOW JR,THEODORE C 2.00 2.75 13.13 2.750 2.500 2.335 $315,500.00 N
600071307 MEEHAN,EDWARD J 2.00 2.75 12.75 2.750 2.500 2.335 $336,900.00 N
600071308 MEADOWS,MICHAEL J 2.00 2.75 11.88 2.750 2.500 2.335 $734,849.00 N
600071309 BRUNEY,CHARLES M 2.00 2.75 13.13 2.750 2.500 2.335 $294,300.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071310 CARDON,DONALD R 813 MONROE DRIVE ROCK SPRIN WY 82901 $96,866.67
600071311 FREEMANJR.,JAMES N 3501 SELWYN AVENUE CHARLOTTE NC 28209 $119,400.07
600071312 MORRIS,MICHAEL S 8404 SPRUCE HILL ROA PROSPECT KY 40059 $379,328.58
600071313 SOWERS,MICHAEL G 45519 MUIRFIELD DRIVE CANTON MI 48188 $246,154.34
600071314 DEW,MICHAEL E 3812 WINDJAMMER COUR LEE'S SUMM MO 64082 $178,116.91
600071315 MCCREADY,RUSSELL J 4784 RAYMOND DRIVE LA VERNE CA 91750 $210,146.79
600071316 FISHER,ERNEST R 804 GREEN VALLEY LA HIGHLAND V TX 75067 $285,143.46
600071317 RYAN,SCOTT M 1850 WALTHALL DR. NW ATLANTA GA 30318 $185,373.48
600071318 WANDER,RONALD 972 FOUR OAKS FENTON MO 63026 $134,219.27
600071319 HECHT,STEVEN M 2726 ROBYNS GLEN DRI CHARLOTTE NC 28269 $115,129.56
600071320 USREY,DANNY R 1000 COYOTE SPRINGS BAKERSFIEL CA 93312 $132,731.25
600071352 FLOWERS,JAMES R 7621 STARNBERG LAKE CORPUS CHR TX 78413 $146,460.07
600071353 BOWEN,JEFFREY S 14671 HORSESHOE BEND GRANGER IN 46530 $165,460.32
600071354 EVANS,LANSING B 14003 CODY STREET OVERLAND P KS 66221 $226,617.15
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071310 CARDON,DONALD R 6.875 .250 6.625 .1650 6.460 09/01/2025
600071311 FREEMANJR.,JAMES N 6.875 .250 6.625 .1650 6.460 08/01/2025
600071312 MORRIS,MICHAEL S 6.875 .250 6.625 .1650 6.460 07/01/2025
600071313 SOWERS,MICHAEL G 6.875 .250 6.625 .1650 6.460 07/01/2025
600071314 DEW,MICHAEL E 6.875 .250 6.625 .1650 6.460 07/01/2025
600071315 MCCREADY,RUSSELL J 6.875 .250 6.625 .1650 6.460 07/01/2025
600071316 FISHER,ERNEST R 6.875 .250 6.625 .1650 6.460 07/01/2025
600071317 RYAN,SCOTT M 6.875 .250 6.625 .1650 6.460 07/01/2025
600071318 WANDER,RONALD 6.875 .250 6.625 .1650 6.460 07/01/2025
600071319 HECHT,STEVEN M 6.875 .250 6.625 .1650 6.460 10/01/2025
600071320 USREY,DANNY R 6.875 .250 6.625 .1650 6.460 07/01/2025
600071352 FLOWERS,JAMES R 6.875 .250 6.625 .1650 6.460 09/01/2026
600071353 BOWEN,JEFFREY S 6.875 .250 6.625 .1650 6.460 09/01/2026
600071354 EVANS,LANSING B 6.875 .250 6.625 .1650 6.460 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071310 CARDON,DONALD R 91827684 $650.36 2 09/01/1997 360
600071311 FREEMANJR.,JAMES N 91825660 $802.44 09/01/1997 360
600071312 MORRIS,MICHAEL S 91825063 $2,551.84 19 09/01/1997 360
600071313 SOWERS,MICHAEL G 91824943 $1,656.12 09/01/1997 360
600071314 DEW,MICHAEL E 91824053 $1,198.24 19 09/01/1997 360
600071315 MCCREADY,RUSSELL J 91821715 $1,413.71 09/01/1997 360
600071316 FISHER,ERNEST R 91818754 $1,918.23 09/01/1997 360
600071317 RYAN,SCOTT M 91817823 $1,248.16 1 09/01/1997 360
600071318 WANDER,RONALD 91817568 $919.70 09/01/1997 360
600071319 HECHT,STEVEN M 91817520 $772.22 7 09/01/1997 360
600071320 USREY,DANNY R 91817192 $977.51 09/01/1997 360
600071352 FLOWERS,JAMES R 91898678 $972.25 09/01/1997 360
600071353 BOWEN,JEFFREY S 91895595 $1,098.38 09/01/1997 360
600071354 EVANS,LANSING B 91893472 $1,504.37 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071310 CARDON,DONALD R 2.00 2.75 13.13 2.750 2.500 2.335 $119,000.00 N
600071311 FREEMANJR.,JAMES N 2.00 2.75 13.13 2.750 2.500 2.335 $152,700.00 N
600071312 MORRIS,MICHAEL S 2.00 2.75 13.13 2.750 2.500 2.335 $457,000.00 N
600071313 SOWERS,MICHAEL G 2.00 2.75 13.13 2.750 2.500 2.335 $315,125.00 N
600071314 DEW,MICHAEL E 2.00 2.75 13.13 2.750 2.500 2.335 $192,000.00 N
600071315 MCCREADY,RUSSELL J 2.00 2.75 13.13 2.750 2.500 2.335 $269,000.00 N
600071316 FISHER,ERNEST R 2.00 2.75 13.13 2.750 2.500 2.335 $365,000.00 N
600071317 RYAN,SCOTT M 2.00 2.75 13.13 2.750 2.500 2.335 $212,000.00 N
600071318 WANDER,RONALD 2.00 2.75 13.13 2.750 2.500 2.335 $200,000.00 N
600071319 HECHT,STEVEN M 2.00 2.75 12.75 2.750 2.500 2.335 $130,350.00 N
600071320 USREY,DANNY R 2.00 2.75 13.13 2.750 2.500 2.335 $186,000.00 N
600071352 FLOWERS,JAMES R 2.00 2.75 11.88 2.750 2.500 2.335 $185,000.00 N
600071353 BOWEN,JEFFREY S 2.00 2.75 11.88 2.750 2.500 2.335 $209,000.00 N
600071354 EVANS,LANSING B 2.00 2.75 11.88 2.750 2.500 2.335 $383,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071355 GELLER,HARRY L 4904 83RD ST. URBANDALE IA 50322 $123,488.06
600071356 FLEMMING,PETER J 2519 W WINFIELD BELVIDERE IL 61008 $95,545.43
600071359 WINN,STEVEN C 55 W 620 SOUTH OREM UT 84058 $334,417.36
600071360 FOSTER,VIRGINIA S 2960 POLO DRIVE DELRAY BEA FL 33483 $477,036.52
600071361 STEINBERG,LESLIE M 924 15TH STREET #1 SANTA MONI CA 90403 $286,585.75
600071386 WALKER,PATRICIA K 972 WOODCHUCK DRIVE VILLA HILL KY 41017 $231,896.33
600071389 GRAHAMJR.,THOMAS C 6576 HERITAGE CLUB D MASON OH 45040 $395,936.77
600071392 AUGUSTIN,JEFFREY G 12201 CHRISTY LANE LOS ALAMIT CA 90720 $578,543.32
600071393 CHAPMAN,BARRY J 1503 SARANELL NAPERVILLE IL 60565 $249,663.64
600071394 WEINSTEIN,BARRY S 11050 WOODLANDS WAY CINCINNATI OH 45241 $350,353.59
600071395 MORGAN,MARSHA K 1205 SABINE COURT SOUTH LAKE TX 76092 $192,502.00
600071396 CIARLO,PHILIP N 5740 GREEN HILL TROY MI 48098 $355,388.26
600071397 GALAN,JUAN I 746 FOREST AVE LARCHMONT NY 10538 $267,330.94
600071398 KLEENE JR,FREDERICK K 7750 TALL OAKS DR. PARK CITY UT 84098 $454,107.26
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071355 GELLER,HARRY L 6.875 .250 6.625 .1650 6.460 08/01/2026
600071356 FLEMMING,PETER J 6.875 .250 6.625 .1650 6.460 09/01/2026
600071359 WINN,STEVEN C 7.000 .250 6.750 .1650 6.585 02/01/2026
600071360 FOSTER,VIRGINIA S 7.000 .250 6.750 .1650 6.585 02/01/2026
600071361 STEINBERG,LESLIE M 7.000 .250 6.750 .1650 6.585 01/01/2026
600071386 WALKER,PATRICIA K 7.000 .250 6.750 .1650 6.585 09/01/2026
600071389 GRAHAMJR.,THOMAS C 7.000 .250 6.750 .1650 6.585 09/01/2026
600071392 AUGUSTIN,JEFFREY G 7.000 .250 6.750 .1650 6.585 08/01/2026
600071393 CHAPMAN,BARRY J 7.000 .250 6.750 .1650 6.585 08/01/2026
600071394 WEINSTEIN,BARRY S 7.000 .250 6.750 .1650 6.585 06/01/2026
600071395 MORGAN,MARSHA K 7.000 .250 6.750 .1650 6.585 06/01/2026
600071396 CIARLO,PHILIP N 7.000 .250 6.750 .1650 6.585 06/01/2026
600071397 GALAN,JUAN I 7.000 .250 6.750 .1650 6.585 06/01/2026
600071398 KLEENE JR,FREDERICK K 7.000 .250 6.750 .1650 6.585 06/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071355 GELLER,HARRY L 91886177 $820.50 19 09/01/1997 360
600071356 FLEMMING,PETER J 91882681 $634.26 1 09/01/1997 360
600071359 WINN,STEVEN C 91858191 $2,262.03 09/01/1997 360
600071360 FOSTER,VIRGINIA S 91858152 $3,226.72 09/01/1997 360
600071361 STEINBERG,LESLIE M 91858080 $1,946.01 09/01/1997 360
600071386 WALKER,PATRICIA K 91899556 $1,563.46 09/01/1997 360
600071389 GRAHAMJR.,THOMAS C 91894195 $2,661.21 09/01/1997 360
600071392 AUGUSTIN,JEFFREY G 91890465 $3,892.02 19 09/01/1997 360
600071393 CHAPMAN,BARRY J 91889148 $1,679.56 19 09/01/1997 360
600071394 WEINSTEIN,BARRY S 91883513 $2,361.16 09/01/1997 360
600071395 MORGAN,MARSHA K 91879670 $1,297.34 09/01/1997 360
600071396 CIARLO,PHILIP N 91879635 $2,395.09 09/01/1997 360
600071397 GALAN,JUAN I 91879566 $1,801.64 09/01/1997 360
600071398 KLEENE JR,FREDERICK K 91879269 $3,060.39 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071355 GELLER,HARRY L 2.00 2.75 11.88 2.750 2.500 2.335 $139,900.00 N
600071356 FLEMMING,PETER J 2.00 2.75 11.88 2.750 2.500 2.335 $107,300.00 N
600071359 WINN,STEVEN C 2.00 2.75 12.00 2.750 2.500 2.335 $550,000.00 N
600071360 FOSTER,VIRGINIA S 2.00 2.75 12.00 2.750 2.500 2.335 $870,000.00 N
600071361 STEINBERG,LESLIE M 2.00 2.75 12.00 2.750 2.500 2.335 $390,000.00 N
600071386 WALKER,PATRICIA K 2.00 2.75 12.00 2.750 2.500 2.335 $355,000.00 N
600071389 GRAHAMJR.,THOMAS C 2.00 2.75 12.00 2.750 2.500 2.335 $602,500.00 N
600071392 AUGUSTIN,JEFFREY G 2.00 2.75 12.00 2.750 2.500 2.335 $650,000.00 N
600071393 CHAPMAN,BARRY J 2.00 2.75 12.00 2.750 2.500 2.335 $297,000.00 N
600071394 WEINSTEIN,BARRY S 2.00 2.75 12.00 2.750 2.500 2.335 $443,726.00 N
600071395 MORGAN,MARSHA K 2.00 2.75 12.00 2.750 2.500 2.335 $244,000.00 N
600071396 CIARLO,PHILIP N 2.00 2.75 12.00 2.750 2.500 2.335 $631,500.00 N
600071397 GALAN,JUAN I 2.00 2.75 12.00 2.750 2.500 2.335 $338,500.00 N
600071398 KLEENE JR,FREDERICK K 2.00 2.75 12.00 2.750 2.500 2.335 $575,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071399 COCHRANE,PATRICK E 7816 VIRGINIA OAKS D GAINESVILL VA 22065 $254,464.18
600071400 CHANEY,ARI A 34365 SEMINOLE WAY SOLON OH 44139 $262,650.43
600071401 GOMES,FELIPE A 314 SCARLET CIRCLE WAXFORD PA 15090 $173,588.03
600071402 SEIFTS,JOSEPH L 1203 HARMONY COURT NAPERVILLE IL 60563 $220,635.52
600071403 REISCHMAN,RICHARD L 22203 MISSION HILLS L KATY TX 77450 $160,766.16
600071404 BROGOTO,MICHAEL D 1517 SWLONG PLACE LEE'S SUMM MO 64063 $82,453.54
600071405 SANFORD,HARRIS E 9051 LOGANBERRY DRIV GILROY CA 95020 $225,006.95
600071406 ANDREWS,DAVID L 6146 S NETHERLAND CIRC AURORA CO 80016 $255,967.54
600071407 DEASIS,ARNEL S 257 NAGLEE AVENUE SAN FRANCI CA 94112 $230,340.52
600071408 CHABOT,JOHN R 317 MILTON ROAD LITCHFIELD CT 6759 $591,777.05
600071409 MACMILLAN,DONALD S 18 MANORWOOD DRIVE BRANFORD CT 6405 $74,890.06
600071410 LINDHOLM,TOM 4500 LAKERIDGE ROAD DENVER CO 80219 $226,432.28
600071411 ANATRA,VICTOR 11 LAUREL HOLLOW R GUILFORD CT 6473 $270,983.81
600071412 WITCHELL,STEPHEN J 18 NIAGARA PIER ERIE PA 16507 $309,263.83
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071399 COCHRANE,PATRICK E 7.000 .250 6.750 .1650 6.585 05/01/2026
600071400 CHANEY,ARI A 7.000 .250 6.750 .1650 6.585 05/01/2026
600071401 GOMES,FELIPE A 7.000 .250 6.750 .1650 6.585 05/01/2026
600071402 SEIFTS,JOSEPH L 7.000 .250 6.750 .1650 6.585 06/01/2026
600071403 REISCHMAN,RICHARD L 7.000 .250 6.750 .1650 6.585 05/01/2026
600071404 BROGOTO,MICHAEL D 7.000 .250 6.750 .1650 6.585 04/01/2026
600071405 SANFORD,HARRIS E 7.000 .250 6.750 .1650 6.585 03/01/2026
600071406 ANDREWS,DAVID L 7.000 .250 6.750 .1650 6.585 03/01/2026
600071407 DEASIS,ARNEL S 7.000 .250 6.750 .1650 6.585 03/01/2026
600071408 CHABOT,JOHN R 7.000 .250 6.750 .1650 6.585 05/01/2026
600071409 MACMILLAN,DONALD S 7.000 .250 6.750 .1650 6.585 04/01/2026
600071410 LINDHOLM,TOM 7.000 .250 6.750 .1650 6.585 03/01/2026
600071411 ANATRA,VICTOR 7.000 .250 6.750 .1650 6.585 04/01/2026
600071412 WITCHELL,STEPHEN J 7.000 .250 6.750 .1650 6.585 03/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071399 COCHRANE,PATRICK E 91877954 $1,716.48 1 09/01/1997 360
600071400 CHANEY,ARI A 91877708 $1,771.70 09/01/1997 360
600071401 GOMES,FELIPE A 91876784 $1,170.93 09/01/1997 360
600071402 SEIFTS,JOSEPH L 91876034 $1,495.60 09/01/1997 360
600071403 REISCHMAN,RICHARD L 91874946 $1,084.44 09/01/1997 360
600071404 BROGOTO,MICHAEL D 91873181 $565.84 1 09/01/1997 360
600071405 SANFORD,HARRIS E 91871293 $1,520.89 1 09/01/1997 360
600071406 ANDREWS,DAVID L 91868960 $1,729.79 09/01/1997 360
600071407 DEASIS,ARNEL S 91867751 $1,556.81 19 09/01/1997 360
600071408 CHABOT,JOHN R 91867453 $3,991.82 09/01/1997 360
600071409 MACMILLAN,DONALD S 91867417 $505.63 09/01/1997 360
600071410 LINDHOLM,TOM 91865473 $1,530.20 09/01/1997 360
600071411 ANATRA,VICTOR 91864865 $1,829.58 09/01/1997 360
600071412 WITCHELL,STEPHEN J 91862670 $2,128.97 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071399 COCHRANE,PATRICK E 2.00 2.75 12.00 2.750 2.500 2.335 $287,000.00 N
600071400 CHANEY,ARI A 2.00 2.75 12.00 2.750 2.500 2.335 $334,850.00 N
600071401 GOMES,FELIPE A 2.00 2.75 12.00 2.750 2.500 2.335 $220,000.00 N
600071402 SEIFTS,JOSEPH L 2.00 2.75 12.00 2.750 2.500 2.335 $281,000.00 N
600071403 REISCHMAN,RICHARD L 2.00 2.75 12.00 2.750 2.500 2.335 $206,000.00 N
600071404 BROGOTO,MICHAEL D 2.00 2.75 12.00 2.750 2.500 2.335 $94,500.00 N
600071405 SANFORD,HARRIS E 2.00 2.75 12.00 2.750 2.500 2.335 $240,990.00 N
600071406 ANDREWS,DAVID L 2.00 2.75 12.00 2.750 2.500 2.335 $325,000.00 N
600071407 DEASIS,ARNEL S 2.00 2.75 12.00 2.750 2.500 2.335 $260,000.00 N
600071408 CHABOT,JOHN R 2.00 2.75 12.00 2.750 2.500 2.335 $1,000,000.00 N
600071409 MACMILLAN,DONALD S 2.00 2.75 12.00 2.750 2.500 2.335 $97,000.00 N
600071410 LINDHOLM,TOM 2.00 2.75 12.00 2.750 2.500 2.335 $310,000.00 N
600071411 ANATRA,VICTOR 2.00 2.75 12.00 2.750 2.500 2.335 $400,000.00 N
600071412 WITCHELL,STEPHEN J 2.00 2.75 12.00 2.750 2.500 2.335 $400,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071413 THORPE,LEON F 6221 N WEST 21ST C BOCA RATON FL 33496 $76,206.78
600071414 WAMPOLE,CAROLE L 27 BRIDGEPORT ROAD NEWPORT CO CA 92657 $442,611.26
600071415 HOLZAPFEL,ERIC C 7315 INDIAN HILL ROA CINCINNATI OH 45243 $560,640.98
600071416 FELNER,GLENN L 840 SHERIDAN ROAD GLENCOE IL 60173 $714,411.87
600071417 MATARAZZO,JOSEPH 6250 W LAKERIDGE ROAD LAKEWOOD CO 80227 $693,737.69
600071418 IMPROVEMENT GROUP,LLC,BAY 702 W BRITTINGHAM PLA MADISON WI 53715 $70,817.76
600071419 GRAMM,KARL W 753 SPYGLASS BLVD. FORSYTH IL 62535 $162,576.84
600071420 WEINER,JANICE 3484 DANIELLA COURT CALABASAS CA 91302 $406,102.46
600071421 MITCHELL,STEVEN C 3735 DIAMANTE SAN CLEMEN CA 92673 $293,669.37
600071422 ANDERSON,ROBERT 2056 SANTA CLARA AVE ALAMEDA CA 94501 $263,107.47
600071423 TROTTER,MICHAEL C 17271 2ND ST. E. N REDINGTO FL 33708 $97,634.52
600071424 SOLTAU,MARK 311 SHERWOOD WAY MENLO PARK CA 94025 $412,331.82
600071425 HAHN,DAVID A 400 10TH STREET CORONADO CA 92118 $466,084.68
600071426 DIFFEE,BARRY M 2907 9TH STREET NORT ARLINGTON VA 22201 $208,216.37
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071413 THORPE,LEON F 7.000 .250 6.750 .1650 6.585 04/01/2026
600071414 WAMPOLE,CAROLE L 7.000 .250 6.750 .1650 6.585 02/01/2026
600071415 HOLZAPFEL,ERIC C 7.000 .250 6.750 .1650 6.585 02/01/2026
600071416 FELNER,GLENN L 7.000 .250 6.750 .1650 6.585 04/01/2026
600071417 MATARAZZO,JOSEPH 7.000 .250 6.750 .1650 6.585 03/01/2026
600071418 IMPROVEMENT GROUP,LLC,BAY 7.000 .250 6.750 .1650 6.585 02/01/2026
600071419 GRAMM,KARL W 7.000 .250 6.750 .1650 6.585 12/01/2025
600071420 WEINER,JANICE 7.000 .250 6.750 .1650 6.585 03/01/2026
600071421 MITCHELL,STEVEN C 7.000 .250 6.750 .1650 6.585 01/01/2026
600071422 ANDERSON,ROBERT 7.000 .250 6.750 .1650 6.585 12/01/2025
600071423 TROTTER,MICHAEL C 7.000 .250 6.750 .1650 6.585 12/01/2025
600071424 SOLTAU,MARK 7.000 .250 6.750 .1650 6.585 12/01/2025
600071425 HAHN,DAVID A 7.000 .250 6.750 .1650 6.585 11/01/2025
600071426 DIFFEE,BARRY M 7.000 .250 6.750 .1650 6.585 10/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071413 THORPE,LEON F 91862527 $2,757.01 09/01/1997 360
600071414 WAMPOLE,CAROLE L 91862094 $2,993.86 09/01/1997 360
600071415 HOLZAPFEL,ERIC C 91861703 $3,792.22 09/01/1997 360
600071416 FELNER,GLENN L 91861288 $4,823.44 09/01/1997 360
600071417 MATARAZZO,JOSEPH 91860176 $4,690.39 09/01/1997 360
600071418 IMPROVEMENT GROUP,LLC,BAY 91856705 $479.02 09/01/1997 360
600071419 GRAMM,KARL W 91855961 $1,101.74 09/01/1997 360
600071420 WEINER,JANICE 91855174 $2,744.37 09/01/1997 360
600071421 MITCHELL,STEVEN C 91854966 $1,988.26 1 09/01/1997 360
600071422 ANDERSON,ROBERT 91854629 $1,783.01 09/01/1997 360
600071423 TROTTER,MICHAEL C 91852752 $661.64 1 09/01/1997 360
600071424 SOLTAU,MARK 91852058 $2,794.27 09/01/1997 360
600071425 HAHN,DAVID A 91850135 $3,161.52 09/01/1997 360
600071426 DIFFEE,BARRY M 91845827 $1,424.42 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071413 THORPE,LEON F 2.00 2.75 12.00 2.750 2.500 2.335 $518,000.00 N
600071414 WAMPOLE,CAROLE L 2.00 2.75 12.00 2.750 2.500 2.335 $775,000.00 N
600071415 HOLZAPFEL,ERIC C 2.00 2.75 12.00 2.750 2.500 2.335 $850,000.00 N
600071416 FELNER,GLENN L 2.00 2.75 12.00 2.750 2.500 2.335 $1,200,000.00 N
600071417 MATARAZZO,JOSEPH 2.00 2.75 12.00 2.750 2.500 2.335 $1,500,000.00 N
600071418 IMPROVEMENT GROUP,LLC,BAY 2.00 2.75 12.00 2.750 2.500 2.335 $120,000.00 N
600071419 GRAMM,KARL W 2.00 2.75 12.00 2.750 2.500 2.335 $207,000.00 N
600071420 WEINER,JANICE 2.00 2.75 12.00 2.750 2.500 2.335 $550,000.00 N
600071421 MITCHELL,STEVEN C 2.00 2.75 12.00 2.750 2.500 2.335 $314,624.00 N
600071422 ANDERSON,ROBERT 2.00 2.75 12.00 2.750 2.500 2.335 $335,000.00 N
600071423 TROTTER,MICHAEL C 2.00 2.75 12.00 2.750 2.500 2.335 $117,000.00 N
600071424 SOLTAU,MARK 2.00 2.75 12.00 2.750 2.500 2.335 $545,000.00 N
600071425 HAHN,DAVID A 2.00 2.75 12.00 2.750 2.500 2.335 $594,000.00 N
600071426 DIFFEE,BARRY M 2.00 2.75 12.00 2.750 2.500 2.335 $237,930.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071427 WHITE,ROBERT A 159 LIBRARY PL PRINCETON NJ 8540 $847,601.72
600071428 BERGIN,RICHARD A LOT 16 MEADOWBROOK BROOKLYN CT 6234 $145,863.48
600071429 PARENTI,DREW S 3768 JENNINGS STREET SAN DIEGO CA 92106 $202,148.88
600071430 LEIGH,TODD L 1651 N DAYTON CHICAGO IL 60614 $168,864.67
600071431 WILHELMII,KENT W 22184 FOREST HILLS DR GOLDEN CO 80401 $404,110.30
600071432 PANNELL,MICHAEL L 6820 HAMILTON ROAD LORTON VA 22079 $303,514.11
600071433 SWADJR.,WILMER L 3015 S OCEAN BLVD. HIGHLAND B FL 33431 $145,797.86
600071434 PRETTYMAN,THOMAS A 6867 CRIMSON SKY TRA SCOTTSDALE AZ 85262 $241,266.77
600071435 WARD,P. S 29 GLEN AVON DRIVE RIVERSIDE CT 6878 $672,862.14
600071436 FIELDS,R. E 1375 TERRAMONT DRIVE ROSWELL GA 30076 $78,240.60
600071437 GILLILAND,PAUL G 956 VAN LEER DRIVE NASHVILLE TN 37220 $223,963.67
600071438 TRUEBNER,JAN W 95 PEMBROKE ROAD DARIEN CT 6820 $342,302.39
600071439 KATZ,ANDREW D 5739 WOODMONT STREET PITTBURGH PA 15217 $213,739.28
600071440 PIBL,MARK 51 HAWTHORNE DR PRINCTON J NJ 8540 $298,291.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071427 WHITE,ROBERT A 7.000 .250 6.750 .1650 6.585 10/01/2025
600071428 BERGIN,RICHARD A 7.000 .250 6.750 .1650 6.585 09/01/2025
600071429 PARENTI,DREW S 7.000 .250 6.750 .1650 6.585 08/01/2025
600071430 LEIGH,TODD L 7.000 .250 6.750 .1650 6.585 09/01/2025
600071431 WILHELMII,KENT W 7.000 .250 6.750 .1650 6.585 09/01/2025
600071432 PANNELL,MICHAEL L 7.000 .250 6.750 .1650 6.585 08/01/2025
600071433 SWADJR.,WILMER L 7.000 .250 6.750 .1650 6.585 10/01/2025
600071434 PRETTYMAN,THOMAS A 7.000 .250 6.750 .1650 6.585 08/01/2025
600071435 WARD,P. S 7.000 .250 6.750 .1650 6.585 08/01/2025
600071436 FIELDS,R. E 7.000 .250 6.750 .1650 6.585 08/01/2025
600071437 GILLILAND,PAUL G 7.000 .250 6.750 .1650 6.585 08/01/2025
600071438 TRUEBNER,JAN W 7.000 .250 6.750 .1650 6.585 08/01/2025
600071439 KATZ,ANDREW D 7.000 .250 6.750 .1650 6.585 09/01/2025
600071440 PIBL,MARK 7.000 .250 6.750 .1650 6.585 08/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071427 WHITE,ROBERT A 91841620 $5,754.87 09/01/1997 360
600071428 BERGIN,RICHARD A 91837817 $991.30 7 09/01/1997 360
600071429 PARENTI,DREW S 91833419 $1,389.15 09/01/1997 360
600071430 LEIGH,TODD L 91833245 $1,149.64 09/01/1997 360
600071431 WILHELMII,KENT W 91832804 $2,746.37 09/01/1997 360
600071432 PANNELL,MICHAEL L 91832025 $2,065.44 19 09/01/1997 360
600071433 SWADJR.,WILMER L 91829610 $1,097.75 09/01/1997 360
600071434 PRETTYMAN,THOMAS A 91828210 $1,663.26 09/01/1997 360
600071435 WARD,P. S 91827275 $4,577.28 09/01/1997 360
600071436 FIELDS,R. E 91826309 $532.24 19 09/01/1997 360
600071437 GILLILAND,PAUL G 91826284 $1,523.54 19 09/01/1997 360
600071438 TRUEBNER,JAN W 91825820 $2,328.56 09/01/1997 360
600071439 KATZ,ANDREW D 91825634 $1,463.67 09/01/1997 360
600071440 PIBL,MARK 91824811 $2,029.17 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071427 WHITE,ROBERT A 2.00 2.75 13.13 2.750 2.500 2.335 $1,400,000.00 N
600071428 BERGIN,RICHARD A 2.00 2.75 12.75 2.750 2.500 2.335 $167,500.00 N
600071429 PARENTI,DREW S 2.00 2.75 13.13 2.750 2.500 2.335 $261,000.00 N
600071430 LEIGH,TODD L 2.00 2.75 13.13 2.750 2.500 2.335 $216,000.00 N
600071431 WILHELMII,KENT W 2.00 2.75 13.13 2.750 2.500 2.335 $519,000.00 N
600071432 PANNELL,MICHAEL L 2.00 2.75 13.13 2.750 2.500 2.335 $326,811.00 N
600071433 SWADJR.,WILMER L 2.00 2.75 12.75 2.750 2.500 2.335 $315,000.00 N
600071434 PRETTYMAN,THOMAS A 2.00 2.75 13.13 2.750 2.500 2.335 $436,738.85 N
600071435 WARD,P. S 2.00 2.75 13.13 2.750 2.500 2.335 $1,300,000.00 N
600071436 FIELDS,R. E 2.00 2.75 13.13 2.750 2.500 2.335 $90,000.00 N
600071437 GILLILAND,PAUL G 2.00 2.75 13.13 2.750 2.500 2.335 $242,000.00 N
600071438 TRUEBNER,JAN W 2.00 2.75 13.13 2.750 2.500 2.335 $835,000.00 N
600071439 KATZ,ANDREW D 2.00 2.75 13.13 2.750 2.500 2.335 $275,000.00 N
600071440 PIBL,MARK 2.00 2.75 13.13 2.750 2.500 2.335 $385,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071441 MCVICKER,JAMES M 3757 DEERWOOD DRIVE LAFOLLETTE TN 37766 $160,737.82
600071442 DESMOND,DAVID J 2 MELISSA TRAIL LONG VALLE NJ 7853 $228,525.28
600071443 O'BRIEN,LAWRENCE J 220 TANGLEWOOD ROAD FAIRFIELD CT 6430 $273,576.30
600071444 CAIMI,PERRY G 7 HOLLY DR KENNETT SQ PA 19348 $208,902.17
600071445 RYMER,ROGER R 621 MEADOWS DALLAS PA 18612 $142,835.86
600071446 COLLINS,MATTHEW 30 BLACK ALDER LAN WILTON CT 6897 $240,348.44
600071466 BURNS,KEVIN F 1328 CANTERBURY CIRC LIBERTYVIL IL 60048 $395,633.26
600071485 SCHOLL,WARREN M 11615 W 115TH STREET OVERLAND P KS 66204 $110,926.50
600071486 RICH,BRADFORD W 4378 BUNKER HILL DRI MEMPHIS TN 38115 $93,809.20
600071487 SEAL,WILLIAM T 44 CLEARVIEW PLACE BINGHAMTON NY 13901 $123,730.22
600071488 ROUSH,JOHN A 1690 DORCHESTER BIRMINGHAM MI 48009 $387,523.09
600071489 DANCY,FRANK L 11175 LINBROOK LANE DULUTH GA 30136 $176,835.29
600071490 YOUNG,DAVID J 2708 E 17TH STREET ODESSA TX 79761 $87,028.69
600071491 ANDERSON,PHYLLIS J 278 MANNING STREET HUDSON MA 1749 $64,974.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071441 MCVICKER,JAMES M 7.000 .250 6.750 .1650 6.585 07/01/2025
600071442 DESMOND,DAVID J 7.000 .250 6.750 .1650 6.585 07/01/2025
600071443 O'BRIEN,LAWRENCE J 7.000 .250 6.750 .1650 6.585 07/01/2025
600071444 CAIMI,PERRY G 7.000 .250 6.750 .1650 6.585 08/01/2025
600071445 RYMER,ROGER R 7.000 .250 6.750 .1650 6.585 07/01/2025
600071446 COLLINS,MATTHEW 7.000 .250 6.750 .1650 6.585 07/01/2025
600071466 BURNS,KEVIN F 7.000 .250 6.750 .1650 6.585 09/01/2026
600071485 SCHOLL,WARREN M 7.000 .250 6.750 .1650 6.585 09/01/2026
600071486 RICH,BRADFORD W 7.000 .250 6.750 .1650 6.585 09/01/2026
600071487 SEAL,WILLIAM T 7.000 .250 6.750 .1650 6.585 09/01/2026
600071488 ROUSH,JOHN A 7.000 .250 6.750 .1650 6.585 09/01/2026
600071489 DANCY,FRANK L 7.000 .250 6.750 .1650 6.585 09/01/2026
600071490 YOUNG,DAVID J 7.000 .250 6.750 .1650 6.585 08/01/2026
600071491 ANDERSON,PHYLLIS J 7.000 .250 6.750 .1650 6.585 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071441 MCVICKER,JAMES M 91823164 $1,942.68 09/01/1997 360
600071442 DESMOND,DAVID J 91820871 $1,556.14 1 09/01/1997 360
600071443 O'BRIEN,LAWRENCE J 91820080 $1,862.85 09/01/1997 360
600071444 CAIMI,PERRY G 91818337 $1,421.09 09/01/1997 360
600071445 RYMER,ROGER R 91817004 $1,064.48 09/01/1997 360
600071446 COLLINS,MATTHEW 91815297 $1,649.95 09/01/1997 360
600071466 BURNS,KEVIN F 91895252 $2,661.21 09/01/1997 360
600071485 SCHOLL,WARREN M 91899506 $748.47 09/01/1997 360
600071486 RICH,BRADFORD W 91894704 $630.54 19 09/01/1997 360
600071487 SEAL,WILLIAM T 91894698 $831.63 09/01/1997 360
600071488 ROUSH,JOHN A 91894065 $2,604.66 1 09/01/1997 360
600071489 DANCY,FRANK L 91893819 $1,188.56 1 09/01/1997 360
600071490 YOUNG,DAVID J 91891418 $585.47 09/01/1997 360
600071491 ANDERSON,PHYLLIS J 91884267 $437.10 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071441 MCVICKER,JAMES M 2.00 2.75 13.13 2.750 2.500 2.335 $365,000.00 N
600071442 DESMOND,DAVID J 2.00 2.75 13.13 2.750 2.500 2.335 $259,900.00 N
600071443 O'BRIEN,LAWRENCE J 2.00 2.75 13.13 2.750 2.500 2.335 $355,000.00 N
600071444 CAIMI,PERRY G 2.00 2.75 13.13 2.750 2.500 2.335 $267,000.00 N
600071445 RYMER,ROGER R 2.00 2.75 13.13 2.750 2.500 2.335 $207,000.00 N
600071446 COLLINS,MATTHEW 2.00 2.75 13.13 2.750 2.500 2.335 $310,000.00 N
600071466 BURNS,KEVIN F 2.00 2.75 12.00 2.750 2.500 2.335 $550,000.00 N
600071485 SCHOLL,WARREN M 2.00 2.75 12.00 2.750 2.500 2.335 $147,500.00 N
600071486 RICH,BRADFORD W 2.00 2.75 12.00 2.750 2.500 2.335 $111,500.00 N
600071487 SEAL,WILLIAM T 2.00 2.75 12.00 2.750 2.500 2.335 $161,000.00 N
600071488 ROUSH,JOHN A 2.00 2.75 12.00 2.750 2.500 2.335 $435,000.00 N
600071489 DANCY,FRANK L 2.00 2.75 12.00 2.750 2.500 2.335 $198,500.00 N
600071490 YOUNG,DAVID J 2.00 2.75 12.00 2.750 2.500 2.335 $110,000.00 N
600071491 ANDERSON,PHYLLIS J 2.00 2.75 12.00 2.750 2.500 2.335 $82,683.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071499 CRUMP,BILLIY W 4753 THORNBURY DRIVE FAIRFAX VA 22030 $214,105.65
600071500 PRENDERGAST,JAMES R 5245 BLUE YARROW RUN NORCROSS GA 30092 $227,323.28
600071501 ATHANASIOU,CHRISTINA M 18 ROYAL PALM WAY BOCA RATON FL 33432 $69,058.35
600071503 HARDY,PAMELA J 17807 POND RIDGE GURNEE IL 60031 $259,005.98
600071504 SOLOMON,MICHAEL L RR1 BOX 239A MONTOURSVI PA 17754 $76,189.64
600071505 FOGARTY,DENNIS G 1441 NEFFWOOD ALNE KIRKWOOD MO 63122 $214,762.86
600071506 WYATT,JERRY O 1620 DESERT FORT STR LAS VEGAS NV 89128 $219,814.78
600071507 RUHLANDER,SCOT 1701 W TERRACOTTA CHICAGO IL 60614 $217,602.72
600071508 ADAMS,RICHARD M 750 EDGEWOOD AVENUE MILL VALLE CA 94941 $590,379.67
600071509 ALLOWE,GREGORY P 682 WOODFIELD WAY ROCHESTER MI 48307 $211,953.15
600071538 SIMMONSIII,DAVID E 1308 NANTAHALA TRAIL MARIETTA GA 30000 $211,779.04
600071539 HANSEN,DONALD L 4713 E GRAND VALLEY CO CASTLEROCK CO 80104 $238,601.19
600071540 SHIELDS,RANDALL A 1075 MONACO PKWY. DENVER CO 80220 $257,198.61
600071541 ARLING,PAUL J 1234 LOUDEN #B CINCINNATI OH 45202 $135,397.48
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071499 CRUMP,BILLIY W 7.125 .250 6.875 .1650 6.710 09/01/2026
600071500 PRENDERGAST,JAMES R 7.125 .250 6.875 .1650 6.710 09/01/2026
600071501 ATHANASIOU,CHRISTINA M 7.125 .250 6.875 .1650 6.710 09/01/2026
600071503 HARDY,PAMELA J 7.125 .250 6.875 .1650 6.710 09/01/2026
600071504 SOLOMON,MICHAEL L 7.125 .250 6.875 .1650 6.710 09/01/2026
600071505 FOGARTY,DENNIS G 7.125 .250 6.875 .1650 6.710 02/01/2026
600071506 WYATT,JERRY O 7.125 .250 6.875 .1650 6.710 01/01/2026
600071507 RUHLANDER,SCOT 7.125 .250 6.875 .1650 6.710 01/01/2026
600071508 ADAMS,RICHARD M 7.125 .250 6.875 .1650 6.710 02/01/2026
600071509 ALLOWE,GREGORY P 7.125 .250 6.875 .1650 6.710 11/01/2025
600071538 SIMMONSIII,DAVID E 7.125 .250 6.875 .1650 6.710 09/01/2026
600071539 HANSEN,DONALD L 7.125 .250 6.875 .1650 6.710 08/01/2026
600071540 SHIELDS,RANDALL A 7.125 .250 6.875 .1650 6.710 08/01/2026
600071541 ARLING,PAUL J 7.125 .250 6.875 .1650 6.710 07/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071499 CRUMP,BILLIY W 91898394 $1,456.92 1 09/01/1997 360
600071500 PRENDERGAST,JAMES R 91898246 $1,546.86 09/01/1997 360
600071501 ATHANASIOU,CHRISTINA M 91897414 $469.92 19 09/01/1997 360
600071503 HARDY,PAMELA J 91896506 $1,762.45 09/01/1997 360
600071504 SOLOMON,MICHAEL L 91862624 $539.99 2 09/01/1997 360
600071505 FOGARTY,DENNIS G 91862080 $1,505.76 09/01/1997 360
600071506 WYATT,JERRY O 91859903 $1,506.43 09/01/1997 360
600071507 RUHLANDER,SCOT 91855281 $1,491.28 7 09/01/1997 360
600071508 ADAMS,RICHARD M 91851027 $4,042.31 09/01/1997 360
600071509 ALLOWE,GREGORY P 91849780 $1,455.24 19 09/01/1997 360
600071538 SIMMONSIII,DAVID E 91899562 $1,441.08 19 09/01/1997 360
600071539 HANSEN,DONALD L 91896154 $1,625.01 19 09/01/1997 360
600071540 SHIELDS,RANDALL A 91895344 $1,751.67 1 09/01/1997 360
600071541 ARLING,PAUL J 91889321 $922.99 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071499 CRUMP,BILLIY W 2.00 2.75 12.13 2.750 2.500 2.335 $227,670.00 N
600071500 PRENDERGAST,JAMES R 2.00 2.75 12.13 2.750 2.500 2.335 $287,000.00 N
600071501 ATHANASIOU,CHRISTINA M 2.00 2.75 12.13 2.750 2.500 2.335 $75,000.00 N
600071503 HARDY,PAMELA J 2.00 2.75 12.13 2.750 2.500 2.335 $327,000.00 N
600071504 SOLOMON,MICHAEL L 2.00 2.75 12.13 2.750 2.500 2.335 $93,000.00 N
600071505 FOGARTY,DENNIS G 2.00 2.75 12.13 2.750 2.500 2.335 $390,000.00 N
600071506 WYATT,JERRY O 2.00 2.75 12.13 2.750 2.500 2.335 $279,553.00 N
600071507 RUHLANDER,SCOT 2.00 2.75 12.13 2.750 2.500 2.335 $233,000.00 N
600071508 ADAMS,RICHARD M 2.00 2.75 12.13 2.750 2.500 2.335 $870,000.00 N
600071509 ALLOWE,GREGORY P 2.00 2.75 12.13 2.750 2.500 2.335 $240,550.00 N
600071538 SIMMONSIII,DAVID E 2.00 2.75 12.13 2.750 2.500 2.335 $228,900.00 N
600071539 HANSEN,DONALD L 2.00 2.75 12.13 2.750 2.500 2.335 $268,000.00 N
600071540 SHIELDS,RANDALL A 2.00 2.75 12.13 2.750 2.500 2.335 $310,000.00 N
600071541 ARLING,PAUL J 2.00 2.75 12.13 2.750 2.500 2.335 $172,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071543 WILFORD,D. S 107 PATERSON AVENUE GREENWICH CT 6830 $977,354.82
600071545 STRUNK,CINDY L 3109 EBENEZER ROAD MARIETTA GA 30066 $93,728.88
600071546 JOHNSON,JOHN M 520 CREEKWOOD DRIVE MARIETTA GA 30068 $180,896.68
600071547 GUTTSHALL,KURT P 2270 FOUNTAIN KEY CI WINDERMERE FL 34786 $258,000.99
600071548 BARFUS,RICHARD S 45 BRET HARTE SAN RAFAEL CA 94901 $306,101.32
600071549 KOSS,MICHAEL H 242 HARALSON AVENUE ATLANTA GA 30307 $59,193.68
600071550 MCMANUS,JAMES T 6404 NOBLE ROCK COUR CLIFTON VA 22024 $345,316.78
600071551 LILLY,KEVIN D 3288 HAMPTON RIDGE ATLANTA GA 30066 $177,926.12
600071552 VONTZ III,ALBERT W 2590 GRANDIN ROAD CINCINNATI OH 45208 $392,052.81
600071553 BATSON,DALE L 3908 ROCKSPUR TRAIL CRYSTAL LA IL 60014 $246,434.94
600071554 MORGAN,SAMUEL T 981 OLDE STERLING W DAYTON OH 45459 $641,302.47
600071555 RYAN,JEANNE M 2800 N LAKE SHORE CHICAGO IL 60657 $92,765.12
600071556 GITKIN,JEROME 10-15 BELLAIRI AVE FAIRLAWN NJ 7410 $66,103.50
600071557 LEYBA,EDWARD J 22631 N 49TH PLACE PHOENIX AZ 85024 $267,199.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071543 WILFORD,D. S 7.125 .250 6.875 .1650 6.710 08/01/2026
600071545 STRUNK,CINDY L 7.125 .250 6.875 .1650 6.710 05/01/2026
600071546 JOHNSON,JOHN M 7.125 .250 6.875 .1650 6.710 05/01/2026
600071547 GUTTSHALL,KURT P 7.125 .250 6.875 .1650 6.710 05/01/2026
600071548 BARFUS,RICHARD S 7.125 .250 6.875 .1650 6.710 06/01/2026
600071549 KOSS,MICHAEL H 7.125 .250 6.875 .1650 6.710 04/01/2026
600071550 MCMANUS,JAMES T 7.125 .250 6.875 .1650 6.710 05/01/2026
600071551 LILLY,KEVIN D 7.125 .250 6.875 .1650 6.710 04/01/2026
600071552 VONTZ III,ALBERT W 7.125 .250 6.875 .1650 6.710 05/01/2026
600071553 BATSON,DALE L 7.125 .250 6.875 .1650 6.710 04/01/2026
600071554 MORGAN,SAMUEL T 7.125 .250 6.875 .1650 6.710 05/01/2026
600071555 RYAN,JEANNE M 7.125 .250 6.875 .1650 6.710 04/01/2026
600071556 GITKIN,JEROME 7.125 .250 6.875 .1650 6.710 05/01/2026
600071557 LEYBA,EDWARD J 7.125 .250 6.875 .1650 6.710 03/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071543 WILFORD,D. S 91888393 $6,656.34 09/01/1997 360
600071545 STRUNK,CINDY L 91879767 $640.03 09/01/1997 360
600071546 JOHNSON,JOHN M 91879385 $1,235.26 1 09/01/1997 360
600071547 GUTTSHALL,KURT P 91878875 $1,761.77 09/01/1997 360
600071548 BARFUS,RICHARD S 91877274 $2,088.53 09/01/1997 360
600071549 KOSS,MICHAEL H 91876117 $404.57 09/01/1997 360
600071550 MCMANUS,JAMES T 91875900 $2,358.01 09/01/1997 360
600071551 LILLY,KEVIN D 91873369 $1,216.06 1 09/01/1997 360
600071552 VONTZ III,ALBERT W 91873315 $2,677.16 09/01/1997 360
600071553 BATSON,DALE L 91872781 $1,684.30 1 09/01/1997 360
600071554 MORGAN,SAMUEL T 91872503 $4,379.17 09/01/1997 360
600071555 RYAN,JEANNE M 91870467 $640.03 09/01/1997 360
600071556 GITKIN,JEROME 91870194 $451.39 09/01/1997 360
600071557 LEYBA,EDWARD J 91869674 $1,828.47 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071543 WILFORD,D. S 2.00 2.75 12.13 2.750 2.500 2.335 $1,235,000.00 N
600071545 STRUNK,CINDY L 2.00 2.75 12.13 2.750 2.500 2.335 $140,000.00 N
600071546 JOHNSON,JOHN M 2.00 2.75 12.13 2.750 2.500 2.335 $193,000.00 N
600071547 GUTTSHALL,KURT P 2.00 2.75 12.13 2.750 2.500 2.335 $326,900.00 N
600071548 BARFUS,RICHARD S 2.00 2.75 12.13 2.750 2.500 2.335 $565,000.00 N
600071549 KOSS,MICHAEL H 2.00 2.75 12.13 2.750 2.500 2.335 $110,900.00 N
600071550 MCMANUS,JAMES T 2.00 2.75 12.13 2.750 2.500 2.335 $490,000.00 N
600071551 LILLY,KEVIN D 2.00 2.75 12.13 2.750 2.500 2.335 $190,000.00 N
600071552 VONTZ III,ALBERT W 2.00 2.75 12.13 2.750 2.500 2.335 $1,000,000.00 N
600071553 BATSON,DALE L 2.00 2.75 12.13 2.750 2.500 2.335 $283,000.00 N
600071554 MORGAN,SAMUEL T 2.00 2.75 12.13 2.750 2.500 2.335 $935,000.00 N
600071555 RYAN,JEANNE M 2.00 2.75 12.13 2.750 2.500 2.335 $125,000.00 N
600071556 GITKIN,JEROME 2.00 2.75 12.13 2.750 2.500 2.335 $182,000.00 N
600071557 LEYBA,EDWARD J 2.00 2.75 12.13 2.750 2.500 2.335 $286,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071558 PECSOK,JUDY Z 20480 ROYAL STONE DR MALIBU CA 90265 $315,436.28
600071559 LIBER,NEAL A 29 LYNN DRIVE ENGLEWOOD NJ 7632 $631,197.25
600071560 BONFIM,RICK A 263 WOODLAKE DRIVE ATHENS GA 30606 $204,230.13
600071561 HOLDEN,DANIEL E 1715 JOEL WAY LOS ALTOS CA 94024 $406,124.91
600071562 SLEASEIII,CLYDE H EAST ST. CLAIR ROAD LIGONIER PA 15658 $200,586.45
600071563 MESSINA,MICHAEL A 45 SUNSET DRIVE ENGLEWOOD CO 80110 $499,854.78
600071564 UELTSCHY,RICHARD G 7513 TURNER RIDGE RO CRESTWOOD KY 40014 $205,758.97
600071565 MAYMAR,MARK S 44 MAKIN GRADE KENTFIELD CA 94904 $713,375.40
600071566 LEAVELL,CHRIS 1729 DIXON STREET REDONDO BE CA 90278 $310,060.61
600071567 KETCHERSID,MARK T 141 KENDALL COURT GRANITE BA CA 95746 $234,953.95
600071568 STOCKBRIDGE,WILLIAM D 138 REES PLACE FALLS CHUR VA 22046 $284,376.92
600071569 JENNINGS,JOHN P 2335 QUAIL RUN FARM CINCINNATI OH 45233 $403,426.01
600071570 BURCH,LEROY 20 RIO VISTA DRIVE FT. THOMAS KY 41075 $442,382.09
600071571 WITKOWSKI,THOMAS 445 ARBOR CREEK ROSWELL GA 30076 $168,109.60
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071558 PECSOK,JUDY Z 7.125 .250 6.875 .1650 6.710 04/01/2026
600071559 LIBER,NEAL A 7.125 .250 6.875 .1650 6.710 05/01/2026
600071560 BONFIM,RICK A 7.125 .250 6.875 .1650 6.710 05/01/2026
600071561 HOLDEN,DANIEL E 7.125 .250 6.875 .1650 6.710 04/01/2026
600071562 SLEASEIII,CLYDE H 7.125 .250 6.875 .1650 6.710 02/01/2026
600071563 MESSINA,MICHAEL A 7.125 .250 6.875 .1650 6.710 02/01/2026
600071564 UELTSCHY,RICHARD G 7.125 .250 6.875 .1650 6.710 08/01/2026
600071565 MAYMAR,MARK S 7.125 .250 6.875 .1650 6.710 02/01/2026
600071566 LEAVELL,CHRIS 7.125 .250 6.875 .1650 6.710 01/01/2026
600071567 KETCHERSID,MARK T 7.125 .250 6.875 .1650 6.710 01/01/2026
600071568 STOCKBRIDGE,WILLIAM D 7.125 .250 6.875 .1650 6.710 03/01/2026
600071569 JENNINGS,JOHN P 7.125 .250 6.875 .1650 6.710 02/01/2026
600071570 BURCH,LEROY 7.125 .250 6.875 .1650 6.710 01/01/2026
600071571 WITKOWSKI,THOMAS 7.125 .250 6.875 .1650 6.710 05/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071558 PECSOK,JUDY Z 91868972 $2,155.90 09/01/1997 360
600071559 LIBER,NEAL A 91865751 $4,311.80 09/01/1997 360
600071560 BONFIM,RICK A 91865249 $1,394.60 09/01/1997 360
600071561 HOLDEN,DANIEL E 91863368 $2,775.72 09/01/1997 360
600071562 SLEASEIII,CLYDE H 91863121 $1,374.39 09/01/1997 360
600071563 MESSINA,MICHAEL A 91861954 $3,422.49 09/01/1997 360
600071564 UELTSCHY,RICHARD G 91860814 $1,401.33 09/01/1997 360
600071565 MAYMAR,MARK S 91860442 $4,884.46 09/01/1997 360
600071566 LEAVELL,CHRIS 91860086 $2,124.91 2 09/01/1997 360
600071567 KETCHERSID,MARK T 91859737 $1,610.19 1 09/01/1997 360
600071568 STOCKBRIDGE,WILLIAM D 91859563 $1,945.37 09/01/1997 360
600071569 JENNINGS,JOHN P 91859447 $2,762.25 09/01/1997 360
600071570 BURCH,LEROY 91855366 $3,031.73 09/01/1997 360
600071571 WITKOWSKI,THOMAS 91852894 $1,148.69 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071558 PECSOK,JUDY Z 2.00 2.75 12.13 2.750 2.500 2.335 $530,000.00 N
600071559 LIBER,NEAL A 2.00 2.75 12.13 2.750 2.500 2.335 $800,000.00 N
600071560 BONFIM,RICK A 2.00 2.75 12.13 2.750 2.500 2.335 $275,000.00 N
600071561 HOLDEN,DANIEL E 2.00 2.75 12.13 2.750 2.500 2.335 $515,000.00 N
600071562 SLEASEIII,CLYDE H 2.00 2.75 12.13 2.750 2.500 2.335 $255,000.00 N
600071563 MESSINA,MICHAEL A 2.00 2.75 12.13 2.750 2.500 2.335 $635,000.00 N
600071564 UELTSCHY,RICHARD G 2.00 2.75 12.13 2.750 2.500 2.335 $278,795.00 N
600071565 MAYMAR,MARK S 2.00 2.75 12.13 2.750 2.500 2.335 $1,800,000.00 N
600071566 LEAVELL,CHRIS 2.00 2.75 12.13 2.750 2.500 2.335 $332,000.00 N
600071567 KETCHERSID,MARK T 2.00 2.75 12.13 2.750 2.500 2.335 $251,700.00 N
600071568 STOCKBRIDGE,WILLIAM D 2.00 2.75 12.13 2.750 2.500 2.335 $360,995.00 N
600071569 JENNINGS,JOHN P 2.00 2.75 12.13 2.750 2.500 2.335 $512,500.00 N
600071570 BURCH,LEROY 2.00 2.75 12.13 2.750 2.500 2.335 $630,000.00 N
600071571 WITKOWSKI,THOMAS 2.00 2.75 12.13 2.750 2.500 2.335 $195,545.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071572 NICHOLS,JOHN R 10095 SW70 AVENUE MIAMI FL 33156 $461,620.29
600071574 BARTELL,MARK C 2798 PALA MESA LANE FALLBROOK CA 92028 $184,648.15
600071575 MANZ,STEVEN F 6904 SHINNECOCK HILL CHARLOTTE NC 28277 $498,482.86
600071576 LUDWIG,EDWARD J 20075 OLD SANTA CRUZ LOS GATOS CA 95030 $412,131.44
600071577 ALVAREZ,AGUSTIN R 19409 RIVER FALLS DR. DAVIDSON NC 28036 $426,655.14
600071578 MCKEE,RANDY E 520 LAREDO CIRCLE ALLEN TX 75002 $280,911.61
600071579 PELEGERO,RENE M 84 SAUNDERS LANE RIDGEFIELD CT 6877 $342,673.28
600071580 VOSSLER,MICHAEL J 500 WIRE MILL ROAD STAMFORD CT 6903 $282,595.52
600071581 KARRA,UDAY D ONE TRIMONT LANE PITTSBURGH PA 15211 $171,240.33
600071582 DRESING,MARGARET M 12 LAUREL DRIVE NORTH EAST MA 2356 $174,829.64
600071583 RINGWALD,KATHLEEN M 39 BURLWOOD AVENUE SAN FRANCI CA 94127 $266,211.22
600071585 BAKUS,PAUL G 34880 SEMINOLE WAY SOLON OH 44139 $259,257.36
600071586 SEGAL,LEON 127 LAUREL AVENUE MENLO PARK CA 94025 $244,397.18
600071587 KALIS,TODD A 113 TOR CIRCLE GIBSONIA PA 15044 $391,035.80
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071572 NICHOLS,JOHN R 7.125 .250 6.875 .1650 6.710 12/01/2025
600071574 BARTELL,MARK C 7.125 .250 6.875 .1650 6.710 12/01/2025
600071575 MANZ,STEVEN F 7.125 .250 6.875 .1650 6.710 11/01/2025
600071576 LUDWIG,EDWARD J 7.125 .250 6.875 .1650 6.710 11/01/2025
600071577 ALVAREZ,AGUSTIN R 7.125 .250 6.875 .1650 6.710 12/01/2025
600071578 MCKEE,RANDY E 7.125 .250 6.875 .1650 6.710 09/01/2025
600071579 PELEGERO,RENE M 7.125 .250 6.875 .1650 6.710 09/01/2025
600071580 VOSSLER,MICHAEL J 7.125 .250 6.875 .1650 6.710 08/01/2025
600071581 KARRA,UDAY D 7.125 .250 6.875 .1650 6.710 08/01/2025
600071582 DRESING,MARGARET M 7.125 .250 6.875 .1650 6.710 09/01/2025
600071583 RINGWALD,KATHLEEN M 7.125 .250 6.875 .1650 6.710 09/01/2025
600071585 BAKUS,PAUL G 7.125 .250 6.875 .1650 6.710 09/01/2025
600071586 SEGAL,LEON 7.125 .250 6.875 .1650 6.710 07/01/2025
600071587 KALIS,TODD A 7.125 .250 6.875 .1650 6.710 07/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071572 NICHOLS,JOHN R 91851391 $3,166.48 09/01/1997 360
600071574 BARTELL,MARK C 91850662 $1,266.59 09/01/1997 360
600071575 MANZ,STEVEN F 91848107 $3,422.49 09/01/1997 360
600071576 LUDWIG,EDWARD J 91846086 $2,829.62 09/01/1997 360
600071577 ALVAREZ,AGUSTIN R 91845881 $2,926.63 09/01/1997 360
600071578 MCKEE,RANDY E 91835457 $1,943.68 1 09/01/1997 360
600071579 PELEGERO,RENE M 91833040 $2,358.01 2 09/01/1997 360
600071580 VOSSLER,MICHAEL J 91832713 $1,945.70 09/01/1997 360
600071581 KARRA,UDAY D 91832347 $1,179.01 09/01/1997 360
600071582 DRESING,MARGARET M 91831593 $1,202.59 19 09/01/1997 360
600071583 RINGWALD,KATHLEEN M 91829763 $1,831.17 19 09/01/1997 360
600071585 BAKUS,PAUL G 91829178 $1,783.33 09/01/1997 360
600071586 SEGAL,LEON 91825187 $1,684.30 09/01/1997 360
600071587 KALIS,TODD A 91823794 $2,694.87 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071572 NICHOLS,JOHN R 2.00 2.75 12.13 2.750 2.500 2.335 $615,000.00 N
600071574 BARTELL,MARK C 2.00 2.75 12.13 2.750 2.500 2.335 $235,000.00 N
600071575 MANZ,STEVEN F 2.00 2.75 12.13 2.750 2.500 2.335 $710,000.00 N
600071576 LUDWIG,EDWARD J 2.00 2.75 12.13 2.750 2.500 2.335 $605,000.00 N
600071577 ALVAREZ,AGUSTIN R 2.00 2.75 12.13 2.750 2.500 2.335 $614,400.00 N
600071578 MCKEE,RANDY E 2.00 2.75 13.13 2.750 2.500 2.335 $309,500.00 N
600071579 PELEGERO,RENE M 2.00 2.75 13.13 2.750 2.500 2.335 $420,000.00 N
600071580 VOSSLER,MICHAEL J 2.00 2.75 13.13 2.750 2.500 2.335 $361,000.00 N
600071581 KARRA,UDAY D 2.00 2.75 13.13 2.750 2.500 2.335 $275,000.00 N
600071582 DRESING,MARGARET M 2.00 2.75 12.75 2.750 2.500 2.335 $210,000.00 N
600071583 RINGWALD,KATHLEEN M 2.00 2.75 13.13 2.750 2.500 2.335 $302,000.00 N
600071585 BAKUS,PAUL G 2.00 2.75 12.75 2.750 2.500 2.335 $330,900.00 N
600071586 SEGAL,LEON 2.00 2.75 13.13 2.750 2.500 2.335 $405,000.00 N
600071587 KALIS,TODD A 2.00 2.75 13.13 2.750 2.500 2.335 $500,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071588 WHITELEATHER,BRUCE E 514 22ND ST. HUNTINGTON CA 92648 $249,285.30
600071589 SULLIVAN,MICHAEL W 400 AVON DRIVE NORMAN OK 73072 $131,974.54
600071590 HARDEN,DALE T 195 N HARBOR DRIVE CHICAGO IL 60601 $195,517.78
600071591 CENTO,STEPHEN J 6067 WINDING LAKE DR JUPITER FL 33458 $166,581.08
600071592 CRAWFORD,TED L 231 CORNFIELD LN PORT MATIL PA 16870 $239,509.30
600071593 JOHNSON,JEFFREY L 18428 LARKSPUR CT. GRAYSLAKE IL 60030 $190,043.28
600071594 NODAR,JOSE A 9815 SW68 STREET MIAMI FL 33173 $238,127.30
600071603 LEITH,WADE R 2850 VIA CORDOBA SAN RAMON CA 94583 $273,263.14
600071604 GRAHAM,ROBERT G 12223 SYDNEY BAY CT INDIANAPOL IN 46236 $247,520.98
600071605 BAKER,ROBERT Z 3012 THORNHILL DRIVE ROSEVILLE CA 95746 $297,025.18
600071617 MCLOUGHLIN,MARY E 3834 WILANDI DR. KNOXVILLE TN 37919 $180,591.38
600071618 LOPEZ,VICTOR J 5318 72ND ST. LUBBOCK TX 79408 $99,008.40
600071619 RIECK,GEORGE C 6034 N KENT AVENUE WHITEFISH WI 53217 $193,066.42
600071620 NAVOY,WALTER A 1121 RUE CHINON MANDEVILLE LA 70471 $148,171.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071588 WHITELEATHER,BRUCE E 7.125 .250 6.875 .1650 6.710 07/01/2025
600071589 SULLIVAN,MICHAEL W 7.125 .250 6.875 .1650 6.710 07/01/2025
600071590 HARDEN,DALE T 7.125 .250 6.875 .1650 6.710 07/01/2025
600071591 CENTO,STEPHEN J 7.125 .250 6.875 .1650 6.710 07/01/2025
600071592 CRAWFORD,TED L 7.125 .250 6.875 .1650 6.710 07/01/2025
600071593 JOHNSON,JEFFREY L 7.125 .250 6.875 .1650 6.710 07/01/2025
600071594 NODAR,JOSE A 7.125 .250 6.875 .1650 6.710 08/01/2025
600071603 LEITH,WADE R 7.125 .250 6.875 .1650 6.710 09/01/2026
600071604 GRAHAM,ROBERT G 7.125 .250 6.875 .1650 6.710 09/01/2026
600071605 BAKER,ROBERT Z 7.125 .250 6.875 .1650 6.710 09/01/2026
600071617 MCLOUGHLIN,MARY E 7.125 .250 6.875 .1650 6.710 09/01/2026
600071618 LOPEZ,VICTOR J 7.125 .250 6.875 .1650 6.710 09/01/2026
600071619 RIECK,GEORGE C 7.125 .250 6.875 .1650 6.710 09/01/2026
600071620 NAVOY,WALTER A 7.125 .250 6.875 .1650 6.710 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071588 WHITELEATHER,BRUCE E 91823736 $1,717.98 09/01/1997 360
600071589 SULLIVAN,MICHAEL W 91823203 $909.52 19 09/01/1997 360
600071590 HARDEN,DALE T 91822839 $1,347.44 09/01/1997 360
600071591 CENTO,STEPHEN J 91821346 $1,148.02 09/01/1997 360
600071592 CRAWFORD,TED L 91820975 $1,650.61 09/01/1997 360
600071593 JOHNSON,JEFFREY L 91817371 $1,309.71 19 09/01/1997 360
600071594 NODAR,JOSE A 91811542 $1,691.03 09/01/1997 360
600071603 LEITH,WADE R 91899479 $1,859.47 09/01/1997 360
600071604 GRAHAM,ROBERT G 91899167 $1,684.30 09/01/1997 360
600071605 BAKER,ROBERT Z 91896080 $2,021.16 19 09/01/1997 360
600071617 MCLOUGHLIN,MARY E 91899489 $1,228.86 09/01/1997 360
600071618 LOPEZ,VICTOR J 91898587 $673.72 09/01/1997 360
600071619 RIECK,GEORGE C 91897242 $1,313.75 1 09/01/1997 360
600071620 NAVOY,WALTER A 91896899 $1,017.31 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071588 WHITELEATHER,BRUCE E 2.00 2.75 13.13 2.750 2.500 2.335 $380,000.00 N
600071589 SULLIVAN,MICHAEL W 2.00 2.75 13.13 2.750 2.500 2.335 $155,000.00 N
600071590 HARDEN,DALE T 2.00 2.75 13.13 2.750 2.500 2.335 $318,000.00 N
600071591 CENTO,STEPHEN J 2.00 2.75 13.13 2.750 2.500 2.335 $213,000.00 N
600071592 CRAWFORD,TED L 2.00 2.75 13.13 2.750 2.500 2.335 $340,000.00 N
600071593 JOHNSON,JEFFREY L 2.00 2.75 13.13 2.750 2.500 2.335 $216,000.00 N
600071594 NODAR,JOSE A 2.00 2.75 13.13 2.750 2.500 2.335 $390,000.00 N
600071603 LEITH,WADE R 2.00 2.75 12.13 2.750 2.500 2.335 $345,000.00 N
600071604 GRAHAM,ROBERT G 2.00 2.75 12.13 2.750 2.500 2.335 $335,000.00 N
600071605 BAKER,ROBERT Z 2.00 2.75 12.13 2.750 2.500 2.335 $350,000.00 N
600071617 MCLOUGHLIN,MARY E 2.00 2.75 12.13 2.750 2.500 2.335 $228,000.00 N
600071618 LOPEZ,VICTOR J 2.00 2.75 12.13 2.750 2.500 2.335 $140,000.00 N
600071619 RIECK,GEORGE C 2.00 2.75 12.13 2.750 2.500 2.335 $235,000.00 N
600071620 NAVOY,WALTER A 2.00 2.75 12.13 2.750 2.500 2.335 $221,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071621 KILLION,ROBERT 4402 WOODHOLLOW DR. MIDLAND TX 79707 $141,378.34
600071622 VANVOOREN,ANDREW R 628 WELLINGTON DR. GREENSBURG PA 15601 $103,175.15
600071623 JORDAN,STEPHANIE K 1307 WINTHROP LANE ROCKFORD IL 61107 $53,464.52
600071624 PILAND,JAMES R 13801 E 87TH ST NOR OWASSO OK 74055 $123,653.17
600071625 PITTMAN,STEVEN G 3614 CHARLWOOD ROCHESTER MI 48037 $153,330.01
600071635 ASPINWALL,ANNE E 1058 ROBBIA DRIVE SUNNYVALE CA 94087 $219,327.14
600071636 REIMERS,JAN F 19 CHRISTY LANE TOWNSHIP S NJ 7871 $232,098.64
600071637 PERRY,RICHARD G 56 RIVER ROAD ROXBURY CT 6783 $295,823.26
600071638 MCCREA IV,JOHN 145 WILSON WAY LARKSPUR CA 94939 $408,139.78
600071687 SLANE,DANIEL M 4310 SUNBURY ROAD GALENA OH 43021 $404,051.15
600071689 ROSENBERGEN,GEORGE J 9225 N PROMONTORY RD INDIANAPOL IN 46236 $282,241.64
600071690 KAUFMAN,SARAH C 4 JOSHUA LANE BRIDGEWATE NJ 8807 $348,593.16
600071691 DONALDSON,JOHN R 3213 LANGLEY DRIVE PLANO TX 75025 $250,900.34
600071692 MCCARTNEYIV,JAMES R 94 TAMARACK ROAD WESTWOOD MA 2090 $227,771.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071621 KILLION,ROBERT 7.125 .250 6.875 .1650 6.710 09/01/2026
600071622 VANVOOREN,ANDREW R 7.125 .250 6.875 .1650 6.710 09/01/2026
600071623 JORDAN,STEPHANIE K 7.125 .250 6.875 .1650 6.710 09/01/2026
600071624 PILAND,JAMES R 7.125 .250 6.875 .1650 6.710 08/01/2026
600071625 PITTMAN,STEVEN G 7.125 .250 6.875 .1650 6.710 08/01/2026
600071635 ASPINWALL,ANNE E 7.250 .250 7.000 .1650 6.835 02/01/2026
600071636 REIMERS,JAN F 7.250 .250 7.000 .1650 6.835 01/01/2026
600071637 PERRY,RICHARD G 7.250 .250 7.000 .1650 6.835 04/01/2026
600071638 MCCREA IV,JOHN 7.250 .250 7.000 .1650 6.835 01/01/2026
600071687 SLANE,DANIEL M 7.250 .250 7.000 .1650 6.835 09/01/2026
600071689 ROSENBERGEN,GEORGE J 7.250 .250 7.000 .1650 6.835 09/01/2026
600071690 KAUFMAN,SARAH C 7.250 .250 7.000 .1650 6.835 09/01/2026
600071691 DONALDSON,JOHN R 7.250 .250 7.000 .1650 6.835 08/01/2026
600071692 MCCARTNEYIV,JAMES R 7.250 .250 7.000 .1650 6.835 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071621 KILLION,ROBERT 91896889 $962.07 1 09/01/1997 360
600071622 VANVOOREN,ANDREW R 91894216 $706.73 1 09/01/1997 360
600071623 JORDAN,STEPHANIE K 91892234 $363.81 19 09/01/1997 360
600071624 PILAND,JAMES R 91880267 $842.15 09/01/1997 360
600071625 PITTMAN,STEVEN G 91879527 $1,044.26 09/01/1997 360
600071635 ASPINWALL,ANNE E 91861217 $1,520.91 09/01/1997 360
600071636 REIMERS,JAN F 91857462 $1,609.94 09/01/1997 360
600071637 PERRY,RICHARD G 91856097 $2,046.53 09/01/1997 360
600071638 MCCREA IV,JOHN 91855490 $2,831.03 09/01/1997 360
600071687 SLANE,DANIEL M 91897615 $2,783.28 09/01/1997 360
600071689 ROSENBERGEN,GEORGE J 91896953 $1,944.20 09/01/1997 360
600071690 KAUFMAN,SARAH C 91895833 $2,401.26 09/01/1997 360
600071691 DONALDSON,JOHN R 91893177 $1,730.00 09/01/1997 360
600071692 MCCARTNEYIV,JAMES R 91893018 $1,569.01 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071621 KILLION,ROBERT 2.00 2.75 12.13 2.750 2.500 2.335 $168,000.00 N
600071622 VANVOOREN,ANDREW R 2.00 2.75 12.13 2.750 2.500 2.335 $120,900.00 N
600071623 JORDAN,STEPHANIE K 2.00 2.75 12.13 2.750 2.500 2.335 $60,500.00 N
600071624 PILAND,JAMES R 2.00 2.75 12.13 2.750 2.500 2.335 $160,825.00 N
600071625 PITTMAN,STEVEN G 2.00 2.75 12.13 2.750 2.500 2.335 $265,000.00 N
600071635 ASPINWALL,ANNE E 2.00 2.75 12.25 2.750 2.500 2.335 $343,000.00 N
600071636 REIMERS,JAN F 2.00 2.75 12.25 2.750 2.500 2.335 $315,000.00 N
600071637 PERRY,RICHARD G 2.00 2.75 12.25 2.750 2.500 2.335 $680,000.00 N
600071638 MCCREA IV,JOHN 2.00 2.75 12.25 2.750 2.500 2.335 $520,000.00 N
600071687 SLANE,DANIEL M 2.00 2.75 12.25 2.750 2.500 2.335 $510,000.00 N
600071689 ROSENBERGEN,GEORGE J 2.00 2.75 12.25 2.750 2.500 2.335 $377,250.00 N
600071690 KAUFMAN,SARAH C 2.00 2.75 12.25 2.750 2.500 2.335 $440,000.00 N
600071691 DONALDSON,JOHN R 2.00 2.75 12.25 2.750 2.500 2.335 $317,000.00 N
600071692 MCCARTNEYIV,JAMES R 2.00 2.75 12.25 2.750 2.500 2.335 $370,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071694 CHAMBLISS,H. D 7600 DUNSMUIR COURT CORNELIUS NC 28031 $254,017.47
600071696 BROWN,JOHN J 300 BORICA DR DANVILLE CA 94526 $221,265.15
600071697 VORREITER JR,EDSEL L 673 PORT NATCHEZ CO COLLIERVIL TN 38017 $238,156.27
600071698 PTUCHA,GEORGE 17212 TASSAJARA CIRCL MORGAN HIL CA 95037 $265,814.35
600071699 MEYER,DANIEL P 5475 WARING DR CINCINNATI OH 45243 $296,337.13
600071700 ALLISON,JAMES R 1202 MONTMORENCY DRI SAN JOSE CA 95118 $234,106.33
600071701 KOWANSKY,ELAINE 2707 CRANLYN SHAKER HEI OH 44120 $331,897.64
600071702 ARNOLD,DEAN B 45 SARENEE CIRCLE TRUMBULL CT 6611 $282,804.43
600071703 KLEEMAN,MERRICK R 2905 LONGRIDGE RD STAMFORD CT 6905 $493,468.34
600071704 KLATZKIN,LAWRENCE A 79 SHARON GOSHEN T CORNWALL CT 6753 $561,547.10
600071705 MYERS,MATTHEW F 301 MAIN STREET WESTPORT CT 6880 $410,565.70
600071706 MCNAIR,GREGORY G 256 HAVERFORD AVENU NASHVILLE TN 37205 $159,923.33
600071707 MAHAFFEYMD,DANIEL E 2850 LEXINGTON ROAD LOUISVILLE KY 40206 $110,440.65
600071708 FABIAN,ROBERT S 36 NEWSTAR RIDGE R SPARTA NJ 7871 $320,754.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071694 CHAMBLISS,H. D 7.250 .250 7.000 .1650 6.835 09/01/2026
600071696 BROWN,JOHN J 7.250 .250 7.000 .1650 6.835 06/01/2026
600071697 VORREITER JR,EDSEL L 7.250 .250 7.000 .1650 6.835 06/01/2026
600071698 PTUCHA,GEORGE 7.250 .250 7.000 .1650 6.835 06/01/2026
600071699 MEYER,DANIEL P 7.250 .250 7.000 .1650 6.835 06/01/2026
600071700 ALLISON,JAMES R 7.250 .250 7.000 .1650 6.835 06/01/2026
600071701 KOWANSKY,ELAINE 7.250 .250 7.000 .1650 6.835 06/01/2026
600071702 ARNOLD,DEAN B 7.250 .250 7.000 .1650 6.835 06/01/2026
600071703 KLEEMAN,MERRICK R 7.250 .250 7.000 .1650 6.835 05/01/2026
600071704 KLATZKIN,LAWRENCE A 7.250 .250 7.000 .1650 6.835 07/01/2026
600071705 MYERS,MATTHEW F 7.250 .250 7.000 .1650 6.835 05/01/2026
600071706 MCNAIR,GREGORY G 7.250 .250 7.000 .1650 6.835 06/01/2026
600071707 MAHAFFEYMD,DANIEL E 7.250 .250 7.000 .1650 6.835 04/01/2026
600071708 FABIAN,ROBERT S 7.250 .250 7.000 .1650 6.835 05/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071694 CHAMBLISS,H. D 91892751 $1,749.78 09/01/1997 360
600071696 BROWN,JOHN J 91883449 $1,528.07 09/01/1997 360
600071697 VORREITER JR,EDSEL L 91882763 $1,644.73 1 09/01/1997 360
600071698 PTUCHA,GEORGE 91882157 $1,835.74 19 09/01/1997 360
600071699 MEYER,DANIEL P 91880191 $2,046.53 09/01/1997 360
600071700 ALLISON,JAMES R 91879824 $1,616.76 09/01/1997 360
600071701 KOWANSKY,ELAINE 91879252 $2,292.11 09/01/1997 360
600071702 ARNOLD,DEAN B 91879076 $1,953.07 09/01/1997 360
600071703 KLEEMAN,MERRICK R 91878813 $3,410.88 09/01/1997 360
600071704 KLATZKIN,LAWRENCE A 91878564 $3,874.76 09/01/1997 360
600071705 MYERS,MATTHEW F 91878559 $2,837.85 09/01/1997 360
600071706 MCNAIR,GREGORY G 91876116 $1,104.44 19 09/01/1997 360
600071707 MAHAFFEYMD,DANIEL E 91874212 $764.04 09/01/1997 360
600071708 FABIAN,ROBERT S 91874134 $2,217.07 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071694 CHAMBLISS,H. D 2.00 2.75 12.25 2.750 2.500 2.335 $330,000.00 N
600071696 BROWN,JOHN J 2.00 2.75 12.25 2.750 2.500 2.335 $280,000.00 N
600071697 VORREITER JR,EDSEL L 2.00 2.75 12.25 2.750 2.500 2.335 $267,900.00 N
600071698 PTUCHA,GEORGE 2.00 2.75 12.25 2.750 2.500 2.335 $299,000.00 N
600071699 MEYER,DANIEL P 2.00 2.75 12.25 2.750 2.500 2.335 $760,000.00 N
600071700 ALLISON,JAMES R 2.00 2.75 12.25 2.750 2.500 2.335 $316,000.00 N
600071701 KOWANSKY,ELAINE 2.00 2.75 12.25 2.750 2.500 2.335 $420,000.00 N
600071702 ARNOLD,DEAN B 2.00 2.75 12.25 2.750 2.500 2.335 $357,900.00 N
600071703 KLEEMAN,MERRICK R 2.00 2.75 12.25 2.750 2.500 2.335 $625,000.00 N
600071704 KLATZKIN,LAWRENCE A 2.00 2.75 12.25 2.750 2.500 2.335 $710,000.00 N
600071705 MYERS,MATTHEW F 2.00 2.75 12.25 2.750 2.500 2.335 $520,000.00 N
600071706 MCNAIR,GREGORY G 2.00 2.75 12.25 2.750 2.500 2.335 $179,900.00 N
600071707 MAHAFFEYMD,DANIEL E 2.00 2.75 12.25 2.750 2.500 2.335 $340,000.00 N
600071708 FABIAN,ROBERT S 2.00 2.75 12.25 2.750 2.500 2.335 $411,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071709 HILL,JOSEPH A 1829 N PARKDALE WICHITA KS 67212 $85,595.14
600071710 MILLER,CRAIG S 10327 REMEMBERANCE TR HUNTERSVIL NC 28078 $216,093.23
600071711 JAROSZEWICZ,THADDEUS 7900 FINLEY LANE CINCINNATI OH 45243 $384,905.23
600071712 LOWRY,ERIC 1464 QUEENS ROAD LOS ANGELE CA 90069 $468,386.81
600071713 BLAKE,GEORGE R 624 WATCH COVE COUR CINCINNATI OH 45230 $409,222.24
600071714 DURAN,ANTHONY 57 WINTHROP NEW RO AURORA IL 60506 $113,497.75
600071716 HEAD,SALLY L 1020 KARENS WAY HENDERSONV TN 37075 $211,020.57
600071717 COVERT,ROBERT F 928 HOBSON ROAD NAPERVILLE IL 60540 $678,803.11
600071718 WILSON,JOYCE 2843 NICHOLS CANYON LOS ANGELE CA 90046 $297,041.67
600071719 CHEN,EDWARD P 350 LAS PALMAS COUR FREMONT CA 94539 $226,599.01
600071720 BUETTNER,JAY 17212 SIMS STREET HUNTINGTON CA 92649 $221,672.97
600071721 LEWIS,DAVID B 25 HORTON LANE NEW CANAAN CT 6840 $285,524.09
600071722 PARMENTER,WESLEY A 105 HUDSON LANE SMITHVILLE MO 64089 $110,540.43
600071723 FISHER,THOMAS E 11316 E DESERT VISTA RO SCOTTSDALE AZ 85255 $288,904.88
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071709 HILL,JOSEPH A 7.250 .250 7.000 .1650 6.835 05/01/2026
600071710 MILLER,CRAIG S 7.250 .250 7.000 .1650 6.835 04/01/2026
600071711 JAROSZEWICZ,THADDEUS 7.250 .250 7.000 .1650 6.835 05/01/2026
600071712 LOWRY,ERIC 7.250 .250 7.000 .1650 6.835 04/01/2026
600071713 BLAKE,GEORGE R 7.250 .250 7.000 .1650 6.835 04/01/2026
600071714 DURAN,ANTHONY 7.250 .250 7.000 .1650 6.835 05/01/2026
600071716 HEAD,SALLY L 7.250 .250 7.000 .1650 6.835 04/01/2026
600071717 COVERT,ROBERT F 7.250 .250 7.000 .1650 6.835 05/01/2026
600071718 WILSON,JOYCE 7.250 .250 7.000 .1650 6.835 03/01/2026
600071719 CHEN,EDWARD P 7.250 .250 7.000 .1650 6.835 03/01/2026
600071720 BUETTNER,JAY 7.250 .250 7.000 .1650 6.835 03/01/2026
600071721 LEWIS,DAVID B 7.250 .250 7.000 .1650 6.835 05/01/2026
600071722 PARMENTER,WESLEY A 7.250 .250 7.000 .1650 6.835 05/01/2026
600071723 FISHER,THOMAS E 7.250 .250 7.000 .1650 6.835 02/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071709 HILL,JOSEPH A 91873126 $595.54 19 09/01/1997 360
600071710 MILLER,CRAIG S 91872706 $1,495.67 09/01/1997 360
600071711 JAROSZEWICZ,THADDEUS 91871580 $2,660.49 09/01/1997 360
600071712 LOWRY,ERIC 91871237 $3,240.34 09/01/1997 360
600071713 BLAKE,GEORGE R 91871003 $2,831.03 09/01/1997 360
600071714 DURAN,ANTHONY 91870709 $784.50 09/01/1997 360
600071716 HEAD,SALLY L 91869526 $1,459.86 09/01/1997 360
600071717 COVERT,ROBERT F 91869403 $4,693.37 09/01/1997 360
600071718 WILSON,JOYCE 91868635 $2,056.77 09/01/1997 360
600071719 CHEN,EDWARD P 91868444 $1,569.01 09/01/1997 360
600071720 BUETTNER,JAY 91867543 $1,534.90 09/01/1997 360
600071721 LEWIS,DAVID B 91867319 $2,114.75 09/01/1997 360
600071722 PARMENTER,WESLEY A 91866333 $764.72 09/01/1997 360
600071723 FISHER,THOMAS E 91863740 $2,002.19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071709 HILL,JOSEPH A 2.00 2.75 12.25 2.750 2.500 2.335 $97,000.00 N
600071710 MILLER,CRAIG S 2.00 2.75 12.25 2.750 2.500 2.335 $274,888.00 N
600071711 JAROSZEWICZ,THADDEUS 2.00 2.75 12.25 2.750 2.500 2.335 $490,000.00 N
600071712 LOWRY,ERIC 2.00 2.75 12.25 2.750 2.500 2.335 $635,000.00 N
600071713 BLAKE,GEORGE R 2.00 2.75 12.25 2.750 2.500 2.335 $712,000.00 N
600071714 DURAN,ANTHONY 2.00 2.75 12.25 2.750 2.500 2.335 $185,000.00 N
600071716 HEAD,SALLY L 2.00 2.75 12.25 2.750 2.500 2.335 $315,000.00 N
600071717 COVERT,ROBERT F 2.00 2.75 12.25 2.750 2.500 2.335 $860,000.00 N
600071718 WILSON,JOYCE 2.00 2.75 12.25 2.750 2.500 2.335 $470,000.00 N
600071719 CHEN,EDWARD P 2.00 2.75 12.25 2.750 2.500 2.335 $370,000.00 N
600071720 BUETTNER,JAY 2.00 2.75 12.25 2.750 2.500 2.335 $375,000.00 N
600071721 LEWIS,DAVID B 2.00 2.75 12.25 2.750 2.500 2.335 $417,000.00 N
600071722 PARMENTER,WESLEY A 2.00 2.75 12.25 2.750 2.500 2.335 $140,221.00 N
600071723 FISHER,THOMAS E 2.00 2.75 12.25 2.750 2.500 2.335 $420,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071724 POULSEN,RICHARD S 8802 LAKESIDE COURT BOULDER CO 80301 $334,972.55
600071725 ABELSON,SIGMUND H 2321 CANYONBACK ROAD LOS ANGELE CA 90049 $620,684.45
600071726 RAMSTETTER,ANTHONY F 722 SAGE HILL DRIVE TAYLOR MIL KY 41015 $96,381.02
600071727 LASH,DAVID A 9406 CRESTA DRIVE LOS ANGLES CA 90035 $471,997.97
600071728 HIMMELEIN,FREDERICK T 8009 SARGENT RIDGE INDIANAPOL IN 46256 $344,414.73
600071729 TAYLOR,DUANE R 11 DEBBY LANE WARREN NJ 7059 $477,406.71
600071730 REICHART,DANIEL P 6218 N HAVERFORD AVENU INDIANAPOL IN 46220 $77,517.17
600071731 EMCHJR.,A. W 1140 COLUMBINE STREE DENVER CO 80209 $109,066.81
600071732 ABESAMIS JR,RAUL S 29076 SUNRISE COURT HAYWORD CA 94544 $224,816.41
600071733 JOHNSON,JOHN A 260 PICKETT STREET SONOMA CA 95476 $224,128.51
600071734 ADAMCZYK,LINDA C 164 REEDS GAP ROAD NORTHFORD CT 6472 $99,439.90
600071735 SOLANO,ANGEL 260 FERNDALE SO. SAN FR CA 94080 $228,783.60
600071736 LYNCH,DENNIS H 9 TANGLEWOOD DRIV LEXINGTON KY 40505 $273,566.03
600071737 SNEDECOR,MARK A 301 MERIDIAN DRIVE REDWOOD CI CA 94065 $271,342.05
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071724 POULSEN,RICHARD S 7.250 .250 7.000 .1650 6.835 03/01/2026
600071725 ABELSON,SIGMUND H 7.250 .250 7.000 .1650 6.835 03/01/2026
600071726 RAMSTETTER,ANTHONY F 7.250 .250 7.000 .1650 6.835 03/01/2026
600071727 LASH,DAVID A 7.250 .250 7.000 .1650 6.835 02/01/2026
600071728 HIMMELEIN,FREDERICK T 7.250 .250 7.000 .1650 6.835 02/01/2026
600071729 TAYLOR,DUANE R 7.250 .250 7.000 .1650 6.835 02/01/2026
600071730 REICHART,DANIEL P 7.250 .250 7.000 .1650 6.835 02/01/2026
600071731 EMCHJR.,A. W 7.250 .250 7.000 .1650 6.835 01/01/2026
600071732 ABESAMIS JR,RAUL S 7.250 .250 7.000 .1650 6.835 12/01/2025
600071733 JOHNSON,JOHN A 7.250 .250 7.000 .1650 6.835 12/01/2025
600071734 ADAMCZYK,LINDA C 7.250 .250 7.000 .1650 6.835 12/01/2025
600071735 SOLANO,ANGEL 7.250 .250 7.000 .1650 6.835 11/01/2025
600071736 LYNCH,DENNIS H 7.250 .250 7.000 .1650 6.835 12/01/2025
600071737 SNEDECOR,MARK A 7.250 .250 7.000 .1650 6.835 12/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071724 POULSEN,RICHARD S 91863283 $2,319.40 09/01/1997 360
600071725 ABELSON,SIGMUND H 91861894 $4,297.71 09/01/1997 360
600071726 RAMSTETTER,ANTHONY F 91861433 $679.79 09/01/1997 360
600071727 LASH,DAVID A 91861061 $3,274.45 09/01/1997 360
600071728 HIMMELEIN,FREDERICK T 91860579 $2,387.62 09/01/1997 360
600071729 TAYLOR,DUANE R 91859688 $3,308.56 09/01/1997 360
600071730 REICHART,DANIEL P 91858607 $537.21 09/01/1997 360
600071731 EMCHJR.,A. W 91857318 $756.53 09/01/1997 360
600071732 ABESAMIS JR,RAUL S 91853614 $1,560.82 19 09/01/1997 360
600071733 JOHNSON,JOHN A 91853433 $1,556.05 19 09/01/1997 360
600071734 ADAMCZYK,LINDA C 91850397 $695.82 09/01/1997 360
600071735 SOLANO,ANGEL 91849851 $1,590.15 2 09/01/1997 360
600071736 LYNCH,DENNIS H 91847799 $1,910.09 09/01/1997 360
600071737 SNEDECOR,MARK A 91847443 $1,883.83 14 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071724 POULSEN,RICHARD S 2.00 2.75 12.25 2.750 2.500 2.335 $550,000.00 N
600071725 ABELSON,SIGMUND H 2.00 2.75 12.25 2.750 2.500 2.335 $1,025,000.00 N
600071726 RAMSTETTER,ANTHONY F 2.00 2.75 12.25 2.750 2.500 2.335 $135,000.00 N
600071727 LASH,DAVID A 2.00 2.75 12.25 2.750 2.500 2.335 $600,000.00 N
600071728 HIMMELEIN,FREDERICK T 2.00 2.75 12.25 2.750 2.500 2.335 $470,000.00 N
600071729 TAYLOR,DUANE R 2.00 2.75 12.25 2.750 2.500 2.335 $650,000.00 N
600071730 REICHART,DANIEL P 2.00 2.75 12.25 2.750 2.500 2.335 $102,000.00 N
600071731 EMCHJR.,A. W 2.00 2.75 12.25 2.750 2.500 2.335 $138,630.36 N
600071732 ABESAMIS JR,RAUL S 2.00 2.75 12.25 2.750 2.500 2.335 $240,865.00 N
600071733 JOHNSON,JOHN A 2.00 2.75 12.25 2.750 2.500 2.335 $240,112.00 N
600071734 ADAMCZYK,LINDA C 2.00 2.75 12.25 2.750 2.500 2.335 $160,000.00 N
600071735 SOLANO,ANGEL 2.00 2.75 12.25 2.750 2.500 2.335 $259,000.00 N
600071736 LYNCH,DENNIS H 2.00 2.75 12.25 2.750 2.500 2.335 $380,000.00 N
600071737 SNEDECOR,MARK A 2.00 2.75 12.25 2.750 2.500 2.335 $290,689.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071738 GALLAGHER,SEAN J 24536 MULHOLLAND HIGH CALABASAS CA 91302 $349,732.15
600071739 IZADI,KAMRAN 6958 SILVER CANYON D SAN JOSE CA 95120 $214,400.41
600071740 BELLISTRI,JEFFREY M 6006 33RD STREET WASHINGTON DC 20015 $279,019.34
600071741 GIPSON,SCOTT F 535 W ST. CHARLES ROA LOMBARD IL 60148 $125,833.71
600071742 MCFADDEN,JOSEPH P 3401 LAWTON ST SAN FRANCI CA 94122 $228,124.68
600071743 WALSH,MONICA K 303A REX PLACE MADEIRA BE FL 33708 $60,888.18
600071744 JOHNSON,R. L 9609 EAGLE RIDGE DRI BETHESDA MD 20817 $734,938.10
600071745 UR,GARY J 25642 ROLLING HILLS D LAGUNA HIL CA 92653 $375,942.04
600071746 THOMASSON,DANN M 32 SHADYSIDE AVE SUMMIT NJ 7901 $205,390.72
600071747 SHADE,DEBRA M 7726 ANN LANE ROANOKE VA 24018 $203,315.02
600071748 ABRAMS,GARY M 93 SKYLINE TERRACE MILL VALLE CA 94941 $436,481.22
600071749 VIVIAN,EDWARD G.T 32 SECOND AVENUE ATLANTIC H NJ 7716 $205,593.09
600071750 FOX,GEOFFREY L 879 CHERRY STREET WINNETKA IL 60093 $254,401.64
600071751 STEWART,THOMAS W 31 ST. JOHNS AVE. SAVANNAH GA 31404 $49,863.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071738 GALLAGHER,SEAN J 7.250 .250 7.000 .1650 6.835 11/01/2025
600071739 IZADI,KAMRAN 7.250 .250 7.000 .1650 6.835 09/01/2025
600071740 BELLISTRI,JEFFREY M 7.250 .250 7.000 .1650 6.835 08/01/2025
600071741 GIPSON,SCOTT F 7.250 .250 7.000 .1650 6.835 09/01/2025
600071742 MCFADDEN,JOSEPH P 7.250 .250 7.000 .1650 6.835 09/01/2025
600071743 WALSH,MONICA K 7.250 .250 7.000 .1650 6.835 09/01/2025
600071744 JOHNSON,R. L 7.250 .250 7.000 .1650 6.835 09/01/2025
600071745 UR,GARY J 7.250 .250 7.000 .1650 6.835 08/01/2025
600071746 THOMASSON,DANN M 7.250 .250 7.000 .1650 6.835 09/01/2025
600071747 SHADE,DEBRA M 7.250 .250 7.000 .1650 6.835 09/01/2025
600071748 ABRAMS,GARY M 7.250 .250 7.000 .1650 6.835 07/01/2025
600071749 VIVIAN,EDWARD G.T 7.250 .250 7.000 .1650 6.835 08/01/2025
600071750 FOX,GEOFFREY L 7.250 .250 7.000 .1650 6.835 08/01/2025
600071751 STEWART,THOMAS W 7.250 .250 7.000 .1650 6.835 07/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071738 GALLAGHER,SEAN J 91847160 $2,430.25 09/01/1997 360
600071739 IZADI,KAMRAN 91837216 $1,500.79 19 09/01/1997 360
600071740 BELLISTRI,JEFFREY M 91836523 $1,944.21 19 09/01/1997 360
600071741 GIPSON,SCOTT F 91835124 $884.10 19 09/01/1997 360
600071742 MCFADDEN,JOSEPH P 91835107 $1,588.11 09/01/1997 360
600071743 WALSH,MONICA K 91833499 $457.06 09/01/1997 360
600071744 JOHNSON,R. L 91833387 $5,116.32 09/01/1997 360
600071745 UR,GARY J 91831828 $2,619.56 09/01/1997 360
600071746 THOMASSON,DANN M 91827812 $1,429.84 09/01/1997 360
600071747 SHADE,DEBRA M 91826838 $1,473.50 09/01/1997 360
600071748 ABRAMS,GARY M 91826471 $3,044.21 19 09/01/1997 360
600071749 VIVIAN,EDWARD G.T 91825288 $1,432.58 19 09/01/1997 360
600071750 FOX,GEOFFREY L 91824194 $1,775.02 09/01/1997 360
600071751 STEWART,THOMAS W 91824139 $347.91 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071738 GALLAGHER,SEAN J 2.00 2.75 12.25 2.750 2.500 2.335 $475,000.00 N
600071739 IZADI,KAMRAN 2.00 2.75 12.75 2.750 2.500 2.335 $249,950.00 N
600071740 BELLISTRI,JEFFREY M 2.00 2.75 13.13 2.750 2.500 2.335 $300,000.00 N
600071741 GIPSON,SCOTT F 2.00 2.75 13.13 2.750 2.500 2.335 $144,000.00 N
600071742 MCFADDEN,JOSEPH P 2.00 2.75 13.13 2.750 2.500 2.335 $291,000.00 N
600071743 WALSH,MONICA K 2.00 2.75 13.13 2.750 2.500 2.335 $84,000.00 N
600071744 JOHNSON,R. L 2.00 2.75 13.13 2.750 2.500 2.335 $1,240,000.00 N
600071745 UR,GARY J 2.00 2.75 13.13 2.750 2.500 2.335 $480,000.00 N
600071746 THOMASSON,DANN M 2.00 2.75 13.13 2.750 2.500 2.335 $262,000.00 N
600071747 SHADE,DEBRA M 2.00 2.75 12.75 2.750 2.500 2.335 $390,000.00 N
600071748 ABRAMS,GARY M 2.00 2.75 13.13 2.750 2.500 2.335 $525,000.00 N
600071749 VIVIAN,EDWARD G.T 2.00 2.75 12.75 2.750 2.500 2.335 $240,000.00 N
600071750 FOX,GEOFFREY L 2.00 2.75 13.13 2.750 2.500 2.335 $418,000.00 N
600071751 STEWART,THOMAS W 2.00 2.75 13.13 2.750 2.500 2.335 $66,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071752 CLARKIN,CHRISTOPHER J 4435 DORSET LANE SUWANEE GA 30174 $165,379.09
600071753 PIETRUNTI,NICHOLAS P 369 CHURCH STREET MIDDLETOWN NJ 7718 $88,110.99
600071754 KEYARASH,NEDA M 918 ANDREA COURT PITTSBURGH PA 15237 $135,663.71
600071755 TSAVALAS,YANNIS P 8 BUCKINGHAM COUR CLIFTON PA NY 12065 $205,794.13
600071756 BENNETT,THOMAS 20 SCOTT STREET NORWALK CT 6851 $204,424.76
600071757 LEE,BRIAN P 319 ST. PAUL STREET BROOKLINE MA 2146 $303,213.72
600071758 MALONEY,PATRICK J 50 MICHAEL ROAD STAMFORD CT 6903 $293,704.75
600071759 ROBERTSIII,W. S 1954 E SHORE DRIVE CULVER IN 46511 $415,696.34
600071761 RUSSO,GIAN 45 CUMBERLAND AVEN VERONA NJ 7044 $183,004.26
600071775 MYERS,WOODROW A 4288 STONELEIGH ROAD BLOOMFIELD MI 48302 $515,750.69
600071776 RANIERI,ANTHONY D 1292 HELFORD LANE CARMEL IN 46032 $227,773.88
600071804 KEEP,R. S 11337 S BIG SKY DRIVE SANDY UT 84070 $139,932.37
600071805 GAUTHIER,PATRICK R 213 CEDARBROOK RD ARDMORE PA 19003 $236,191.65
600071806 OWENS,TRACEY K 108 OWENO ROAD MAHWAH NJ 7430 $260,315.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071752 CLARKIN,CHRISTOPHER J 7.250 .250 7.000 .1650 6.835 07/01/2025
600071753 PIETRUNTI,NICHOLAS P 7.250 .250 7.000 .1650 6.835 08/01/2025
600071754 KEYARASH,NEDA M 7.250 .250 7.000 .1650 6.835 07/01/2025
600071755 TSAVALAS,YANNIS P 7.250 .250 7.000 .1650 6.835 07/01/2025
600071756 BENNETT,THOMAS 7.250 .250 7.000 .1650 6.835 07/01/2025
600071757 LEE,BRIAN P 7.250 .250 7.000 .1650 6.835 07/01/2025
600071758 MALONEY,PATRICK J 7.250 .250 7.000 .1650 6.835 08/01/2025
600071759 ROBERTSIII,W. S 7.250 .250 7.000 .1650 6.835 07/01/2025
600071761 RUSSO,GIAN 7.250 .250 7.000 .1650 6.835 07/01/2025
600071775 MYERS,WOODROW A 7.250 .250 7.000 .1650 6.835 09/01/2026
600071776 RANIERI,ANTHONY D 7.250 .250 7.000 .1650 6.835 09/01/2026
600071804 KEEP,R. S 7.250 .250 7.000 .1650 6.835 09/01/2026
600071805 GAUTHIER,PATRICK R 7.250 .250 7.000 .1650 6.835 09/01/2026
600071806 OWENS,TRACEY K 7.250 .250 7.000 .1650 6.835 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071752 CLARKIN,CHRISTOPHER J 91821762 $1,153.56 19 09/01/1997 360
600071753 PIETRUNTI,NICHOLAS P 91820969 $613.96 09/01/1997 360
600071754 KEYARASH,NEDA M 91820890 $946.18 19 09/01/1997 360
600071755 TSAVALAS,YANNIS P 91820845 $1,435.30 09/01/1997 360
600071756 BENNETT,THOMAS 91820377 $1,425.75 19 09/01/1997 360
600071757 LEE,BRIAN P 91816738 $2,114.75 09/01/1997 360
600071758 MALONEY,PATRICK J 91815701 $2,046.53 09/01/1997 360
600071759 ROBERTSIII,W. S 91815616 $2,899.25 09/01/1997 360
600071761 RUSSO,GIAN 91810669 $1,276.35 19 09/01/1997 360
600071775 MYERS,WOODROW A 91899383 $3,552.77 09/01/1997 360
600071776 RANIERI,ANTHONY D 91898589 $1,569.01 09/01/1997 360
600071804 KEEP,R. S 91894372 $963.92 19 09/01/1997 360
600071805 GAUTHIER,PATRICK R 91893799 $1,626.99 19 09/01/1997 360
600071806 OWENS,TRACEY K 91893133 $1,793.17 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071752 CLARKIN,CHRISTOPHER J 2.00 2.75 13.13 2.750 2.500 2.335 $187,900.00 N
600071753 PIETRUNTI,NICHOLAS P 2.00 2.75 12.75 2.750 2.500 2.335 $113,000.00 N
600071754 KEYARASH,NEDA M 2.00 2.75 13.13 2.750 2.500 2.335 $146,000.00 N
600071755 TSAVALAS,YANNIS P 2.00 2.75 13.13 2.750 2.500 2.335 $263,000.00 N
600071756 BENNETT,THOMAS 2.00 2.75 13.13 2.750 2.500 2.335 $220,000.00 N
600071757 LEE,BRIAN P 2.00 2.75 13.13 2.750 2.500 2.335 $475,000.00 N
600071758 MALONEY,PATRICK J 2.00 2.75 13.13 2.750 2.500 2.335 $405,000.00 N
600071759 ROBERTSIII,W. S 2.00 2.75 13.13 2.750 2.500 2.335 $532,000.00 N
600071761 RUSSO,GIAN 2.00 2.75 13.13 2.750 2.500 2.335 $197,000.00 N
600071775 MYERS,WOODROW A 2.00 2.75 12.25 2.750 2.500 2.335 $651,000.00 N
600071776 RANIERI,ANTHONY D 2.00 2.75 12.25 2.750 2.500 2.335 $305,000.00 N
600071804 KEEP,R. S 2.00 2.75 12.25 2.750 2.500 2.335 $157,000.00 N
600071805 GAUTHIER,PATRICK R 2.00 2.75 12.25 2.750 2.500 2.335 $265,000.00 N
600071806 OWENS,TRACEY K 2.00 2.75 12.25 2.750 2.500 2.335 $335,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071807 SZAMES,BRIAN M 603 DAKOTA TRAIL FRANKLIN L NJ 7417 $321,210.52
600071808 COYNE,MICHAEL A 22 MURRAY HILL MAN NEW PROVID NJ 7974 $246,656.80
600071809 BEECHER,LAWRENCE F 1906 OVERLOOK RIDGE KELLER TX 76248 $108,935.40
600071810 SLAUGHTER,MARK A 8 BLACKTHORN ROAD SHREWSBURY MA 1545 $297,041.86
600071825 SLEZAK,JEFFREY A 25540 QUITS POND COUR SOUTH RIDI VA 20152 $227,881.85
600071827 MCMAHON,TIMOTHY J 7134 COVENTRY WOODS DUBLIN OH 43016 $267,449.57
600071828 JACOBSEN,JEFFREY J 14350 MULHOLLAND DRIV LOS ANGELE CA 90077 $712,314.19
600071829 BELLIO,JOHN 2510 SILVERWOLF TRAI FORT WAYNE IN 46815 $220,384.56
600071882 DRENNAN,MICHAEL G 38 ADAMS ROAD BOXFORD MA 1921 $430,534.65
600071884 DORDELMAN,WILLIAM E 924 FIELD LANE VILLANOVA PA 19085 $272,368.85
600071885 KRAUSE,JAY F 47 MAPLE AVENUE ESSEX CT 6426 $232,032.72
600071886 OWENS,JOHN R 1905 LAKES EDGE DRIV LEXINGTON KY 40502 $222,874.62
600071887 ROCK,TIMOTHY R 9711 CHATHAM OAKS CHARLOTTE NC 28210 $243,612.19
600071888 MACHUCAJR.,MANUEL R 23689 SONATA DR. MURRIETA CA 92562 $250,474.80
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071807 SZAMES,BRIAN M 7.250 .250 7.000 .1650 6.835 09/01/2026
600071808 COYNE,MICHAEL A 7.250 .250 7.000 .1650 6.835 07/01/2026
600071809 BEECHER,LAWRENCE F 7.250 .250 7.000 .1650 6.835 09/01/2026
600071810 SLAUGHTER,MARK A 7.250 .250 7.000 .1650 6.835 03/01/2026
600071825 SLEZAK,JEFFREY A 7.375 .250 7.125 .1650 6.960 09/01/2026
600071827 MCMAHON,TIMOTHY J 7.375 .250 7.125 .1650 6.960 09/01/2026
600071828 JACOBSEN,JEFFREY J 7.375 .250 7.125 .1650 6.960 01/01/2026
600071829 BELLIO,JOHN 7.375 .250 7.125 .1650 6.960 01/01/2026
600071882 DRENNAN,MICHAEL G 7.375 .250 7.125 .1650 6.960 08/01/2026
600071884 DORDELMAN,WILLIAM E 7.375 .250 7.125 .1650 6.960 09/01/2026
600071885 KRAUSE,JAY F 7.375 .250 7.125 .1650 6.960 09/01/2026
600071886 OWENS,JOHN R 7.375 .250 7.125 .1650 6.960 09/01/2026
600071887 ROCK,TIMOTHY R 7.375 .250 7.125 .1650 6.960 09/01/2026
600071888 MACHUCAJR.,MANUEL R 7.375 .250 7.125 .1650 6.960 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071807 SZAMES,BRIAN M 91891752 $2,217.07 09/01/1997 360
600071808 COYNE,MICHAEL A 91885036 $1,705.44 09/01/1997 360
600071809 BEECHER,LAWRENCE F 91880028 $750.39 09/01/1997 360
600071810 SLAUGHTER,MARK A 91847220 $2,056.76 19 09/01/1997 360
600071825 SLEZAK,JEFFREY A 91897292 $1,594.08 09/01/1997 360
600071827 MCMAHON,TIMOTHY J 91895637 $1,864.82 09/01/1997 360
600071828 JACOBSEN,JEFFREY J 91857535 $5,000.49 09/01/1997 360
600071829 BELLIO,JOHN 91849315 $1,547.11 09/01/1997 360
600071882 DRENNAN,MICHAEL G 91894354 $3,004.44 09/01/1997 360
600071884 DORDELMAN,WILLIAM E 91893670 $2,112.18 09/01/1997 360
600071885 KRAUSE,JAY F 91893631 $1,633.17 09/01/1997 360
600071886 OWENS,JOHN R 91893369 $1,554.02 09/01/1997 360
600071887 ROCK,TIMOTHY R 91892436 $1,710.11 09/01/1997 360
600071888 MACHUCAJR.,MANUEL R 91892387 $1,750.86 1 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071807 SZAMES,BRIAN M 2.00 2.75 12.25 2.750 2.500 2.335 $525,000.00 N
600071808 COYNE,MICHAEL A 2.00 2.75 12.25 2.750 2.500 2.335 $323,000.00 N
600071809 BEECHER,LAWRENCE F 2.00 2.75 12.25 2.750 2.500 2.335 $164,054.00 N
600071810 SLAUGHTER,MARK A 2.00 2.75 12.25 2.750 2.500 2.335 $335,000.00 N
600071825 SLEZAK,JEFFREY A 2.00 2.75 12.38 2.750 2.500 2.335 $288,535.00 N
600071827 MCMAHON,TIMOTHY J 2.00 2.75 12.38 2.750 2.500 2.335 $380,000.00 N
600071828 JACOBSEN,JEFFREY J 2.00 2.75 12.38 2.750 2.500 2.335 $905,000.00 N
600071829 BELLIO,JOHN 2.00 2.75 12.38 2.750 2.500 2.335 $285,000.00 N
600071882 DRENNAN,MICHAEL G 2.00 2.75 12.38 2.750 2.500 2.335 $600,000.00 N
600071884 DORDELMAN,WILLIAM E 2.00 2.75 12.38 2.750 2.500 2.335 $508,050.00 N
600071885 KRAUSE,JAY F 2.00 2.75 12.38 2.750 2.500 2.335 $295,575.00 N
600071886 OWENS,JOHN R 2.00 2.75 12.38 2.750 2.500 2.335 $568,000.00 N
600071887 ROCK,TIMOTHY R 2.00 2.75 12.38 2.750 2.500 2.335 $309,500.00 N
600071888 MACHUCAJR.,MANUEL R 2.00 2.75 12.38 2.750 2.500 2.335 $281,675.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071890 ALLRED,KIM A 47 WEED STREET NEW CANAAN CT 6840 $381,363.27
600071891 LANE,KATHLEEN M 4747 BIG OAK BEND MARIETTA GA 30062 $119,638.79
600071892 SEIDL,ALLAN E 822 HILLCREST LANE WOODSTOCK GA 30189 $169,851.27
600071893 GLENN,SCOTT A 1511 MAPLEWOOD CT. WOODSTOCK GA 30189 $211,202.45
600071894 MOORE,CHARLES W 254 BARRINGTON ST PETERS MO 63376 $77,272.50
600071895 NIEDNER,CHARLES W 40 OLD GOVERNORS P ST. CHARLE MO 63301 $225,487.42
600071896 SCONYERS,J. D 20 MOHAWK AVENUE CORTE MADE CA 94925 $242,862.93
600071897 COWAN,DARYL E 130 HUNTCLIFF POINT ATLANTA GA 30350 $255,233.20
600071898 TOWLE,MICHAEL P 1748 CARLETON COURT REDWOOD CI CA 94061 $348,498.50
600071899 SMITH,RICHARD H 17290 STONEBROOK DRIV NORTHVILLE MI 48167 $320,582.80
600071900 FRENCH,JEFFREY A 33 REED RANCH ROAD TIBURON CA 94920 $434,389.01
600071901 MARTIN,GEORGE P 31106 LAQUINTA DRIVE GEORGETOWN TX 78628 $220,156.16
600071902 NELSON,CORLISS J 1521 FOLIAGE CT. WICHITA KS 67206 $472,795.67
600071903 CLARY,TIMOTHY J 620 S JEFFERSON UNION MO 63084 $78,486.13
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071890 ALLRED,KIM A 7.375 .250 7.125 .1650 6.960 09/01/2026
600071891 LANE,KATHLEEN M 7.375 .250 7.125 .1650 6.960 05/01/2026
600071892 SEIDL,ALLAN E 7.375 .250 7.125 .1650 6.960 06/01/2026
600071893 GLENN,SCOTT A 7.375 .250 7.125 .1650 6.960 06/01/2026
600071894 MOORE,CHARLES W 7.375 .250 7.125 .1650 6.960 05/01/2026
600071895 NIEDNER,CHARLES W 7.375 .250 7.125 .1650 6.960 05/01/2026
600071896 SCONYERS,J. D 7.375 .250 7.125 .1650 6.960 05/01/2026
600071897 COWAN,DARYL E 7.375 .250 7.125 .1650 6.960 04/01/2026
600071898 TOWLE,MICHAEL P 7.375 .250 7.125 .1650 6.960 05/01/2026
600071899 SMITH,RICHARD H 7.375 .250 7.125 .1650 6.960 04/01/2026
600071900 FRENCH,JEFFREY A 7.375 .250 7.125 .1650 6.960 05/01/2026
600071901 MARTIN,GEORGE P 7.375 .250 7.125 .1650 6.960 05/01/2026
600071902 NELSON,CORLISS J 7.375 .250 7.125 .1650 6.960 04/01/2026
600071903 CLARY,TIMOTHY J 7.375 .250 7.125 .1650 6.960 05/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071890 ALLRED,KIM A 91887526 $2,659.10 09/01/1997 360
600071891 LANE,KATHLEEN M 91881383 $837.10 09/01/1997 360
600071892 SEIDL,ALLAN E 91881142 $1,187.27 09/01/1997 360
600071893 GLENN,SCOTT A 91879887 $1,476.32 1 09/01/1997 360
600071894 MOORE,CHARLES W 91879570 $540.80 09/01/1997 360
600071895 NIEDNER,CHARLES W 91878228 $1,577.50 09/01/1997 360
600071896 SCONYERS,J. D 91877230 $1,699.06 09/01/1997 360
600071897 COWAN,DARYL E 91875767 $1,787.12 09/01/1997 360
600071898 TOWLE,MICHAEL P 91874084 $2,438.08 09/01/1997 360
600071899 SMITH,RICHARD H 91874057 $2,244.69 09/01/1997 360
600071900 FRENCH,JEFFREY A 91873892 $3,038.97 09/01/1997 360
600071901 MARTIN,GEORGE P 91873479 $1,540.21 19 09/01/1997 360
600071902 NELSON,CORLISS J 91872903 $3,453.38 09/01/1997 360
600071903 CLARY,TIMOTHY J 91872752 $549.09 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071890 ALLRED,KIM A 2.00 2.75 12.38 2.750 2.500 2.335 $560,000.00 N
600071891 LANE,KATHLEEN M 2.00 2.75 12.38 2.750 2.500 2.335 $151,500.00 N
600071892 SEIDL,ALLAN E 2.00 2.75 12.38 2.750 2.500 2.335 $214,900.00 N
600071893 GLENN,SCOTT A 2.00 2.75 12.38 2.750 2.500 2.335 $225,000.00 N
600071894 MOORE,CHARLES W 2.00 2.75 12.38 2.750 2.500 2.335 $97,900.00 N
600071895 NIEDNER,CHARLES W 2.00 2.75 12.38 2.750 2.500 2.335 $354,000.00 N
600071896 SCONYERS,J. D 2.00 2.75 12.38 2.750 2.500 2.335 $307,500.00 N
600071897 COWAN,DARYL E 2.00 2.75 12.38 2.750 2.500 2.335 $345,000.00 N
600071898 TOWLE,MICHAEL P 2.00 2.75 12.38 2.750 2.500 2.335 $480,000.00 N
600071899 SMITH,RICHARD H 2.00 2.75 12.38 2.750 2.500 2.335 $449,900.00 N
600071900 FRENCH,JEFFREY A 2.00 2.75 12.38 2.750 2.500 2.335 $550,000.00 N
600071901 MARTIN,GEORGE P 2.00 2.75 12.38 2.750 2.500 2.335 $235,000.00 N
600071902 NELSON,CORLISS J 2.00 2.75 12.38 2.750 2.500 2.335 $675,000.00 N
600071903 CLARY,TIMOTHY J 2.00 2.75 12.38 2.750 2.500 2.335 $105,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071904 SAVAGE,DAVID L 28 WHITE PINE DRIV MILLSBORO DE 19966 $44,396.67
600071905 JOHANSEN,LARS 2475 W LOWER LANDO LAN PARK CITY UT 84060 $273,529.34
600071906 SCHIMBERG,DANIEL A 3301 STETTINIUS AVEN CINCINNATI OH 45208 $248,786.44
600071908 BUSBY,JOHN H 603 14TH STREET MANHATTAN CA 90266 $386,672.05
600071909 HAAS,ELSON M 4275 HESSEL ROAD SEBASTOPOL CA 95472 $310,718.58
600071910 BROCKHOFF,DIANE C 3355 LINDSAY LANE CINCINNATI OH 45251 $73,832.66
600071911 BRANDON,WILLIAM D 2156 CHICKERING LANE NASHVILLE TN 37215 $315,919.28
600071912 NICKELS,KEVIN M 720 PROMONTORY LANE FOSTER CIT CA 94404 $229,143.62
600071913 IERVOLINO,RONALD J 8 OLD LANE EXTENS MONTVILLE NJ 7045 $364,971.10
600071914 HERRMANN,BRETT L 33872 BRIDGEHAMPTON D DANA POINT CA 92629 $210,220.80
600071916 BUFFORD,JASON 1470 PARTRIDGE DRIVE GILROY CA 95020 $228,311.18
600071917 BENTZ,DALE R 430 NORTHWEST MANZA GRANTS PAS OR 97526 $250,715.49
600071918 KNEALE,MICHAEL A 1170 FOXWOOD COURT BLOOMFIELD MI 48304 $344,650.05
600071919 CARSULA,VIOLETO C 2162 CHARGER DRIVE SAN JOSE CA 95131 $271,781.22
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071904 SAVAGE,DAVID L 7.375 .250 7.125 .1650 6.960 07/01/2026
600071905 JOHANSEN,LARS 7.375 .250 7.125 .1650 6.960 04/01/2026
600071906 SCHIMBERG,DANIEL A 7.375 .250 7.125 .1650 6.960 05/01/2026
600071908 BUSBY,JOHN H 7.375 .250 7.125 .1650 6.960 04/01/2026
600071909 HAAS,ELSON M 7.375 .250 7.125 .1650 6.960 04/01/2026
600071910 BROCKHOFF,DIANE C 7.375 .250 7.125 .1650 6.960 04/01/2026
600071911 BRANDON,WILLIAM D 7.375 .250 7.125 .1650 6.960 05/01/2026
600071912 NICKELS,KEVIN M 7.375 .250 7.125 .1650 6.960 03/01/2026
600071913 IERVOLINO,RONALD J 7.375 .250 7.125 .1650 6.960 04/01/2026
600071914 HERRMANN,BRETT L 7.375 .250 7.125 .1650 6.960 03/01/2026
600071916 BUFFORD,JASON 7.375 .250 7.125 .1650 6.960 03/01/2026
600071917 BENTZ,DALE R 7.375 .250 7.125 .1650 6.960 02/01/2026
600071918 KNEALE,MICHAEL A 7.375 .250 7.125 .1650 6.960 02/01/2026
600071919 CARSULA,VIOLETO C 7.375 .250 7.125 .1650 6.960 02/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071904 SAVAGE,DAVID L 91872461 $310.80 09/01/1997 360
600071905 JOHANSEN,LARS 91872348 $1,939.42 19 09/01/1997 360
600071906 SCHIMBERG,DANIEL A 91872150 $1,740.50 09/01/1997 360
600071908 BUSBY,JOHN H 91871647 $2,707.45 09/01/1997 360
600071909 HAAS,ELSON M 91871440 $2,175.63 09/01/1997 360
600071910 BROCKHOFF,DIANE C 91871100 $516.97 09/01/1997 360
600071911 BRANDON,WILLIAM D 91870676 $2,210.16 09/01/1997 360
600071912 NICKELS,KEVIN M 91867553 $1,605.82 09/01/1997 360
600071913 IERVOLINO,RONALD J 91866413 $2,555.50 09/01/1997 360
600071914 HERRMANN,BRETT L 91865534 $1,473.21 19 09/01/1997 360
600071916 BUFFORD,JASON 91865210 $1,612.73 1 09/01/1997 360
600071917 BENTZ,DALE R 91862931 $1,765.03 7 09/01/1997 360
600071918 KNEALE,MICHAEL A 91862311 $2,417.36 09/01/1997 360
600071919 CARSULA,VIOLETO C 91861817 $1,906.26 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071904 SAVAGE,DAVID L 2.00 2.75 12.38 2.750 2.500 2.335 $70,750.00 N
600071905 JOHANSEN,LARS 2.00 2.75 12.38 2.750 2.500 2.335 $312,000.00 N
600071906 SCHIMBERG,DANIEL A 2.00 2.75 12.38 2.750 2.500 2.335 $315,000.00 N
600071908 BUSBY,JOHN H 2.00 2.75 12.38 2.750 2.500 2.335 $490,000.00 N
600071909 HAAS,ELSON M 2.00 2.75 12.38 2.750 2.500 2.335 $420,000.00 N
600071910 BROCKHOFF,DIANE C 2.00 2.75 12.38 2.750 2.500 2.335 $93,615.00 N
600071911 BRANDON,WILLIAM D 2.00 2.75 12.38 2.750 2.500 2.335 $420,000.00 N
600071912 NICKELS,KEVIN M 2.00 2.75 12.38 2.750 2.500 2.335 $310,000.00 N
600071913 IERVOLINO,RONALD J 2.00 2.75 12.38 2.750 2.500 2.335 $463,000.00 N
600071914 HERRMANN,BRETT L 2.00 2.75 12.38 2.750 2.500 2.335 $237,000.00 N
600071916 BUFFORD,JASON 2.00 2.75 12.38 2.750 2.500 2.335 $245,821.00 N
600071917 BENTZ,DALE R 2.00 2.75 12.38 2.750 2.500 2.335 $269,000.00 N
600071918 KNEALE,MICHAEL A 2.00 2.75 12.38 2.750 2.500 2.335 $483,000.00 N
600071919 CARSULA,VIOLETO C 2.00 2.75 12.38 2.750 2.500 2.335 $352,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 33
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071920 GOLDBERG,IRVING B 106 MALLORCA WAY-1 SAN FRANCI CA 94123 $265,938.75
600071921 COTTER,CHERRY 3832 JACKSON STREET SAN FRANCI CA 94118 $384,038.63
600071923 GILBERT,JOHN M 270 CREST ROAD NOVATO CA 94947 $413,112.83
600071924 REGGIANI,FRANK 569 ALTA WAY MILL VALLE CA 94941 $359,737.23
600071925 WALKER,JOHN 7975 WALLER DRIVE MANASSAS VA 22111 $212,567.16
600071926 GASIOROWSKI,HENRY C 46 POND VIEW LANE STAMFORD CT 6903 $790,435.90
600071927 REDRUPJR.,JOHN L 108 ISLAND VIEW DRI IND. HARB. FL 32937 $343,834.58
600071928 AGUIRRE,INAKI 255 STRAWBERRY HILL STAMFORD CT 6905 $109,803.26
600071929 STRONG,KEITH T 312 MONROE DRIVE MOUNTAIN V CA 94040 $235,498.49
600071930 SCHAEFFER,PAUL M 19672 WELLINGTON LANE LOS ANGELE CA 91356 $823,525.23
600071931 ROONEY,SEAN P 276 S FRANKLIN TURN RAMSEY NJ 7446 $181,354.74
600071932 LEESE,SHERI L 4907 HOME AVE. MCHENRY IL 60050 $65,043.12
600071933 MURPY-THOMAS,JASON 2255 32ND AVE. SAN FRANCI CA 94116 $210,194.94
600071934 DESIERTO,ISRAEL A 1200 S FEDERAL D CHICAGO IL 60605 $121,283.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071920 GOLDBERG,IRVING B 7.375 .250 7.125 .1650 6.960 02/01/2026
600071921 COTTER,CHERRY 7.375 .250 7.125 .1650 6.960 02/01/2026
600071923 GILBERT,JOHN M 7.375 .250 7.125 .1650 6.960 01/01/2026
600071924 REGGIANI,FRANK 7.375 .250 7.125 .1650 6.960 12/01/2025
600071925 WALKER,JOHN 7.375 .250 7.125 .1650 6.960 11/01/2025
600071926 GASIOROWSKI,HENRY C 7.375 .250 7.125 .1650 6.960 06/01/2026
600071927 REDRUPJR.,JOHN L 7.375 .250 7.125 .1650 6.960 09/01/2025
600071928 AGUIRRE,INAKI 7.375 .250 7.125 .1650 6.960 09/01/2025
600071929 STRONG,KEITH T 7.375 .250 7.125 .1650 6.960 08/01/2025
600071930 SCHAEFFER,PAUL M 7.375 .250 7.125 .1650 6.960 09/01/2025
600071931 ROONEY,SEAN P 7.375 .250 7.125 .1650 6.960 09/01/2025
600071932 LEESE,SHERI L 7.375 .250 7.125 .1650 6.960 08/01/2025
600071933 MURPY-THOMAS,JASON 7.375 .250 7.125 .1650 6.960 09/01/2025
600071934 DESIERTO,ISRAEL A 7.375 .250 7.125 .1650 6.960 08/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071920 GOLDBERG,IRVING B 91860539 $1,899.70 09/01/1997 360
600071921 COTTER,CHERRY 91858786 $2,693.63 09/01/1997 360
600071923 GILBERT,JOHN M 91853157 $2,900.84 09/01/1997 360
600071924 REGGIANI,FRANK 91852531 $2,527.87 09/01/1997 360
600071925 WALKER,JOHN 91846641 $1,496.01 19 09/01/1997 360
600071926 GASIOROWSKI,HENRY C 91846175 $5,525.40 09/01/1997 360
600071927 REDRUPJR.,JOHN L 91836454 $2,424.27 7 09/01/1997 360
600071928 AGUIRRE,INAKI 91835235 $773.56 09/01/1997 360
600071929 STRONG,KEITH T 91832737 $1,726.69 09/01/1997 360
600071930 SCHAEFFER,PAUL M 91832318 $5,801.67 09/01/1997 360
600071931 ROONEY,SEAN P 91830701 $1,278.44 19 09/01/1997 360
600071932 LEESE,SHERI L 91830581 $462.75 09/01/1997 360
600071933 MURPY-THOMAS,JASON 91830580 $1,480.81 09/01/1997 360
600071934 DESIERTO,ISRAEL A 91828763 $855.40 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071920 GOLDBERG,IRVING B 2.00 2.75 12.38 2.750 2.500 2.335 $400,000.00 N
600071921 COTTER,CHERRY 2.00 2.75 12.38 2.750 2.500 2.335 $720,000.00 N
600071923 GILBERT,JOHN M 2.00 2.75 12.38 2.750 2.500 2.335 $525,000.00 N
600071924 REGGIANI,FRANK 2.00 2.75 12.38 2.750 2.500 2.335 $485,000.00 N
600071925 WALKER,JOHN 2.00 2.75 12.38 2.750 2.500 2.335 $228,442.00 N
600071926 GASIOROWSKI,HENRY C 2.00 2.75 12.38 2.750 2.500 2.335 $1,200,000.00 N
600071927 REDRUPJR.,JOHN L 2.00 2.75 12.75 2.750 2.500 2.335 $390,000.00 N
600071928 AGUIRRE,INAKI 2.00 2.75 13.13 2.750 2.500 2.335 $140,000.00 N
600071929 STRONG,KEITH T 2.00 2.75 13.13 2.750 2.500 2.335 $540,000.00 N
600071930 SCHAEFFER,PAUL M 2.00 2.75 13.13 2.750 2.500 2.335 $1,115,000.00 N
600071931 ROONEY,SEAN P 2.00 2.75 12.75 2.750 2.500 2.335 $208,000.00 N
600071932 LEESE,SHERI L 2.00 2.75 13.13 2.750 2.500 2.335 $104,000.00 N
600071933 MURPY-THOMAS,JASON 2.00 2.75 12.75 2.750 2.500 2.335 $268,000.00 N
600071934 DESIERTO,ISRAEL A 2.00 2.75 13.13 2.750 2.500 2.335 $137,655.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 34
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071935 ANGUS,DEREK C 5311 WESTMINSTER PLA PITTSBURGH PA 15232 $258,822.28
600071936 TJONG,MICHAEL S 7440 ALIDA PLACE RANCHO PAL CA 90274 $616,323.03
600071937 BRANSFORDJR,ARCHIE L 2515 HAMPTONS RUN ALPHARETTA GA 30202 $231,932.67
600071938 LAIBOW,RIMA E 88 BATTEN ROAD NEW YORK NY 10520 $358,088.74
600071939 CASSELMAN,CYNTHIA V 17 GREEN AVENUE NEW CANAAN CT 6840 $258,822.23
600071940 FLANDERS,RICHARD F 99 BRYNMOOR COURT GOSHEN CT 6756 $73,345.47
600071941 BRITT,ELLEN S 7980 NW50TH STREET LAUDERHILL FL 33351 $38,753.24
600071942 CIMOWSKY,WILLIAM W 13 OUTLOOK DRIVE DARIEN CT 6820 $440,378.42
600071943 DRONAMRAJU,RAMESH C 39 RIDGE RD WESTWOOD MA 2090 $660,567.61
600071944 MOOREJR.,JOHN L 506 DENHAM RD ROCKVILLE MD 20851 $115,189.99
600071945 DAMPSY,DIANA M 25 ROWLAND LANE RIDGEFIELD CT 6877 $206,859.39
600071946 ARMSTRONG,NANCY I ROUTE 2 BOX 375 BLANCHARD OK 73080 $122,914.48
600071947 RASMUSSEN,CHARLES 5032 STABLETON CT. MASON OH 45040 $143,416.74
600071948 M.BARCELLONA,ROSE M 3263 CHRISLAND DRIVE ANNAPOLIS MD 21403 $256,396.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071935 ANGUS,DEREK C 7.375 .250 7.125 .1650 6.960 09/01/2025
600071936 TJONG,MICHAEL S 7.375 .250 7.125 .1650 6.960 07/01/2025
600071937 BRANSFORDJR,ARCHIE L 7.375 .250 7.125 .1650 6.960 07/01/2025
600071938 LAIBOW,RIMA E 7.375 .250 7.125 .1650 6.960 07/01/2025
600071939 CASSELMAN,CYNTHIA V 7.375 .250 7.125 .1650 6.960 09/01/2025
600071940 FLANDERS,RICHARD F 7.375 .250 7.125 .1650 6.960 07/01/2025
600071941 BRITT,ELLEN S 7.375 .250 7.125 .1650 6.960 07/01/2025
600071942 CIMOWSKY,WILLIAM W 7.375 .250 7.125 .1650 6.960 07/01/2025
600071943 DRONAMRAJU,RAMESH C 7.375 .250 7.125 .1650 6.960 07/01/2025
600071944 MOOREJR.,JOHN L 7.375 .250 7.125 .1650 6.960 08/01/2025
600071945 DAMPSY,DIANA M 7.375 .250 7.125 .1650 6.960 08/01/2025
600071946 ARMSTRONG,NANCY I 7.375 .250 7.125 .1650 6.960 07/01/2025
600071947 RASMUSSEN,CHARLES 7.375 .250 7.125 .1650 6.960 07/01/2025
600071948 M.BARCELLONA,ROSE M 7.375 .250 7.125 .1650 6.960 07/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071935 ANGUS,DEREK C 91828517 $1,823.38 09/01/1997 360
600071936 TJONG,MICHAEL S 91827121 $4,351.25 09/01/1997 360
600071937 BRANSFORDJR,ARCHIE L 91825900 $1,636.90 19 09/01/1997 360
600071938 LAIBOW,RIMA E 91824968 $2,641.83 1 09/01/1997 360
600071939 CASSELMAN,CYNTHIA V 91823655 $1,823.38 09/01/1997 360
600071940 FLANDERS,RICHARD F 91822666 $518.01 09/01/1997 360
600071941 BRITT,ELLEN S 91822651 $273.51 09/01/1997 360
600071942 CIMOWSKY,WILLIAM W 91820590 $3,108.04 09/01/1997 360
600071943 DRONAMRAJU,RAMESH C 91819836 $4,662.06 09/01/1997 360
600071944 MOOREJR.,JOHN L 91819790 $812.23 09/01/1997 360
600071945 DAMPSY,DIANA M 91818068 $1,507.40 19 09/01/1997 360
600071946 ARMSTRONG,NANCY I 91816468 $867.49 09/01/1997 360
600071947 RASMUSSEN,CHARLES 91815801 $1,012.18 09/01/1997 360
600071948 M.BARCELLONA,ROSE M 91814462 $1,809.57 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071935 ANGUS,DEREK C 2.00 2.75 13.13 2.750 2.500 2.335 $330,000.00 N
600071936 TJONG,MICHAEL S 2.00 2.75 13.13 2.750 2.500 2.335 $900,000.00 N
600071937 BRANSFORDJR,ARCHIE L 2.00 2.75 13.13 2.750 2.500 2.335 $272,000.00 N
600071938 LAIBOW,RIMA E 2.00 2.75 13.18 2.750 2.500 2.335 $425,000.00 N
600071939 CASSELMAN,CYNTHIA V 2.00 2.75 12.75 2.750 2.500 2.335 $330,000.00 N
600071940 FLANDERS,RICHARD F 2.00 2.75 13.13 2.750 2.500 2.335 $125,000.00 N
600071941 BRITT,ELLEN S 2.00 2.75 13.13 2.750 2.500 2.335 $49,500.00 N
600071942 CIMOWSKY,WILLIAM W 2.00 2.75 13.13 2.750 2.500 2.335 $660,000.00 N
600071943 DRONAMRAJU,RAMESH C 2.00 2.75 13.13 2.750 2.500 2.335 $1,000,000.00 N
600071944 MOOREJR.,JOHN L 2.00 2.75 13.13 2.750 2.500 2.335 $147,000.00 N
600071945 DAMPSY,DIANA M 2.00 2.75 13.13 2.750 2.500 2.335 $242,500.00 N
600071946 ARMSTRONG,NANCY I 2.00 2.75 13.13 2.750 2.500 2.335 $167,500.00 N
600071947 RASMUSSEN,CHARLES 2.00 2.75 13.13 2.750 2.500 2.335 $183,195.00 N
600071948 M.BARCELLONA,ROSE M 2.00 2.75 13.13 2.750 2.500 2.335 $327,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 35
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071949 MEYER,JAMES J 1416 LAURAL OAKS DRI STREAMWOOD IL 60107 $142,122.16
600071962 DELONG,GREGG 22 OLIVE AVENUE LARKSPUR CA 94939 $326,882.76
600071964 SUFFOLETTA,JAMES A 604 INDIAN HOME RD. DANVILLE CA 94526 $314,732.09
600072000 MCDONALD,DONALD J 85 TIMBER LANE EVON CT 6001 $227,827.43
600072001 KELLEY,RANDAL W 28777 SKYCREST DRIVE MUNDELEIN IL 60060 $356,599.42
600072003 FARRAR,DANIEL F 6295 CHASEWOOD DR. EDEN PRAIR MN 55344 $482,990.71
600072004 PETERSON,DOUGLAS D 7623 ALVERSTONE AVEN LOS ANGELE CA 90045 $241,919.93
600072025 ENGELKING,SCOTT M 27 DELTON AVE. BUFFALO NY 14150 $61,180.82
600072026 VALOSII,JACK A 710 SHOAL CROSBY TX 77532 $84,711.83
600072027 HUGHES,CHARLES 22 BURKE ROAD WAYNE NJ 7470 $233,660.04
600072028 OSHANA,GENE R 46 RUTLAND SQUARE BOSTON MA 2118 $260,060.34
600072029 GAMALINDA,MARK R 3315 WINCHESTER LANE GLENVIEW IL 60025 $267,244.38
600072141 ROGERS,MARY E 1013 BROOKS BAY DRIV ERIE PA 16505 $158,128.72
600072142 GREEN,ERNEST 424 RUE MARSEILLE KETTERING OH 45429 $297,234.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071949 MEYER,JAMES J 7.375 .250 7.125 .1650 6.960 07/01/2025
600071962 DELONG,GREGG 7.375 .250 7.125 .1650 6.960 09/01/2026
600071964 SUFFOLETTA,JAMES A 7.375 .250 7.125 .1650 6.960 09/01/2026
600072000 MCDONALD,DONALD J 7.375 .250 7.125 .1650 6.960 09/01/2026
600072001 KELLEY,RANDAL W 7.375 .250 7.125 .1650 6.960 09/01/2026
600072003 FARRAR,DANIEL F 7.375 .250 7.125 .1650 6.960 08/01/2026
600072004 PETERSON,DOUGLAS D 7.375 .250 7.125 .1650 6.960 07/01/2026
600072025 ENGELKING,SCOTT M 7.500 .250 7.250 .1650 7.085 09/01/2026
600072026 VALOSII,JACK A 7.500 .250 7.250 .1650 7.085 09/01/2026
600072027 HUGHES,CHARLES 7.500 .250 7.250 .1650 7.085 03/01/2026
600072028 OSHANA,GENE R 7.500 .250 7.250 .1650 7.085 02/01/2026
600072029 GAMALINDA,MARK R 7.500 .250 7.250 .1650 7.085 02/01/2026
600072141 ROGERS,MARY E 7.500 .250 7.250 .1650 7.085 09/01/2026
600072142 GREEN,ERNEST 7.500 .250 7.250 .1650 7.085 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071949 MEYER,JAMES J 91809342 $1,151.36 19 09/01/1997 360
600071962 DELONG,GREGG 91899559 $2,279.23 09/01/1997 360
600071964 SUFFOLETTA,JAMES A 91896918 $2,198.83 09/01/1997 360
600072000 MCDONALD,DONALD J 91895179 $1,588.55 19 09/01/1997 360
600072001 KELLEY,RANDAL W 91894363 $2,486.43 09/01/1997 360
600072003 FARRAR,DANIEL F 91893161 $3,370.49 09/01/1997 360
600072004 PETERSON,DOUGLAS D 91879769 $1,709.42 09/01/1997 360
600072025 ENGELKING,SCOTT M 91896465 $431.76 1 09/01/1997 360
600072026 VALOSII,JACK A 91895502 $597.83 19 09/01/1997 360
600072027 HUGHES,CHARLES 91862833 $1,657.14 1 09/01/1997 360
600072028 OSHANA,GENE R 91859906 $1,845.93 09/01/1997 360
600072029 GAMALINDA,MARK R 91858527 $1,968.99 09/01/1997 360
600072141 ROGERS,MARY E 91898986 $1,115.95 09/01/1997 360
600072142 GREEN,ERNEST 91895970 $2,097.64 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071949 MEYER,JAMES J 2.00 2.75 13.13 2.750 2.500 2.335 $185,319.80 N
600071962 DELONG,GREGG 2.00 2.75 12.38 2.750 2.500 2.335 $640,000.00 N
600071964 SUFFOLETTA,JAMES A 2.00 2.75 12.38 2.750 2.500 2.335 $397,950.00 N
600072000 MCDONALD,DONALD J 2.00 2.75 12.38 2.750 2.500 2.335 $260,000.00 N
600072001 KELLEY,RANDAL W 2.00 2.75 12.38 2.750 2.500 2.335 $524,900.00 N
600072003 FARRAR,DANIEL F 2.00 2.75 12.38 2.750 2.500 2.335 $610,000.00 N
600072004 PETERSON,DOUGLAS D 2.00 2.75 12.38 2.750 2.500 2.335 $330,000.00 N
600072025 ENGELKING,SCOTT M 2.00 2.75 12.50 2.750 2.500 2.335 $65,000.00 N
600072026 VALOSII,JACK A 2.00 2.75 12.50 2.750 2.500 2.335 $90,000.00 N
600072027 HUGHES,CHARLES 2.00 2.75 12.50 2.750 2.500 2.335 $250,000.00 N
600072028 OSHANA,GENE R 2.00 2.75 12.50 2.750 2.500 2.335 $330,000.00 N
600072029 GAMALINDA,MARK R 2.00 2.75 12.50 2.750 2.500 2.335 $406,622.00 N
600072141 ROGERS,MARY E 2.00 2.75 12.50 2.750 2.500 2.335 $199,500.00 N
600072142 GREEN,ERNEST 2.00 2.75 12.50 2.750 2.500 2.335 $589,695.18 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 36
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072143 BROCK,KERRY P 11068 N CLOUD VIEW PLAC ORO VALLEY AZ 85737 $239,931.98
600072144 WILLIAMS,JEROME A 753 ALDER STREET GILROY CA 95020 $229,315.49
600072146 HAMWAY,TIMOTHY J 1372 STONY BROOK LAN MOUNTAINSI NJ 7092 $334,388.79
600072147 NEWMAN,RICHARD 30 ALDEBARAN DRIVE RANDOLPH NJ 7869 $353,617.72
600072148 HAVILAND,MAX A 21 SUNNYSIDE LANE LINCOLN MA 1773 $236,246.46
600072149 BARICKMAN,JAMES H 3 CHURCH HILL LAN REDDING CT 6896 $410,916.29
600072150 NEGREA,DAN 24 LIMERICK PLACE GREENWICH CT 10000 $743,086.23
600072151 RAGLAND,PETER D 3205 GRISCHY LANE CINCINNATI OH 45208 $142,672.55
600072152 IRWIN,C. L HILLSI DE DRIVE SEWICKLEY PA 15143 $396,312.65
600072153 BUTLER,JOHN J 28 CIRCLE DRIVE E RIDGEFIELD CT 6877 $204,926.29
600072154 CHALLAPPA,MURLI 2823 COLONIAL DR. SUGARLAND TX 77478 $81,531.01
600072155 OSBORNE,J. S 4879 BRADFORD CHASE MASON OH 45040 $230,687.30
600072156 EDSALL,RICHARD J 4 CARNEGIE PLACE BASKING RI NJ 7920 $272,667.89
600072157 GARCIA,VICTOR F 7425 SPYGLASS COURT CINCINNATI OH 45244 $400,843.69
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072143 BROCK,KERRY P 7.500 .250 7.250 .1650 7.085 08/01/2026
600072144 WILLIAMS,JEROME A 7.500 .250 7.250 .1650 7.085 08/01/2026
600072146 HAMWAY,TIMOTHY J 7.500 .250 7.250 .1650 7.085 09/01/2026
600072147 NEWMAN,RICHARD 7.500 .250 7.250 .1650 7.085 09/01/2026
600072148 HAVILAND,MAX A 7.500 .250 7.250 .1650 7.085 09/01/2026
600072149 BARICKMAN,JAMES H 7.500 .250 7.250 .1650 7.085 09/01/2026
600072150 NEGREA,DAN 7.500 .250 7.250 .1650 7.085 09/01/2026
600072151 RAGLAND,PETER D 7.500 .250 7.250 .1650 7.085 09/01/2026
600072152 IRWIN,C. L 7.500 .250 7.250 .1650 7.085 09/01/2026
600072153 BUTLER,JOHN J 7.500 .250 7.250 .1650 7.085 08/01/2026
600072154 CHALLAPPA,MURLI 7.500 .250 7.250 .1650 7.085 08/01/2026
600072155 OSBORNE,J. S 7.500 .250 7.250 .1650 7.085 08/01/2026
600072156 EDSALL,RICHARD J 7.500 .250 7.250 .1650 7.085 08/01/2026
600072157 GARCIA,VICTOR F 7.500 .250 7.250 .1650 7.085 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072143 BROCK,KERRY P 91895905 $1,694.62 09/01/1997 360
600072144 WILLIAMS,JEROME A 91895649 $1,619.63 2 09/01/1997 360
600072146 HAMWAY,TIMOTHY J 91895297 $2,359.85 2 09/01/1997 360
600072147 NEWMAN,RICHARD 91894934 $2,517.17 09/01/1997 360
600072148 HAVILAND,MAX A 91894894 $1,678.11 09/01/1997 360
600072149 BARICKMAN,JAMES H 91894330 $2,903.14 09/01/1997 360
600072150 NEGREA,DAN 91893523 $5,244.11 09/01/1997 360
600072151 RAGLAND,PETER D 91893519 $1,006.87 09/01/1997 360
600072152 IRWIN,C. L 91893082 $2,796.86 09/01/1997 360
600072153 BUTLER,JOHN J 91892236 $1,447.37 09/01/1997 360
600072154 CHALLAPPA,MURLI 91891794 $598.53 09/01/1997 360
600072155 OSBORNE,J. S 91889938 $1,649.45 09/01/1997 360
600072156 EDSALL,RICHARD J 91889469 $1,972.83 09/01/1997 360
600072157 GARCIA,VICTOR F 91888267 $2,831.12 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072143 BROCK,KERRY P 2.00 2.75 12.50 2.750 2.500 2.335 $305,000.00 N
600072144 WILLIAMS,JEROME A 2.00 2.75 12.50 2.750 2.500 2.335 $243,828.00 N
600072146 HAMWAY,TIMOTHY J 2.00 2.75 12.50 2.750 2.500 2.335 $375,000.00 N
600072147 NEWMAN,RICHARD 2.00 2.75 12.50 2.750 2.500 2.335 $450,000.00 N
600072148 HAVILAND,MAX A 2.00 2.75 12.50 2.750 2.500 2.335 $320,000.00 N
600072149 BARICKMAN,JAMES H 2.00 2.75 12.50 2.750 2.500 2.335 $519,000.00 N
600072150 NEGREA,DAN 2.00 2.75 12.50 2.750 2.500 2.335 $1,235,000.00 N
600072151 RAGLAND,PETER D 2.00 2.75 12.50 2.750 2.500 2.335 $180,000.00 N
600072152 IRWIN,C. L 2.00 2.75 12.50 2.750 2.500 2.335 $1,225,000.00 N
600072153 BUTLER,JOHN J 2.00 2.75 12.50 2.750 2.500 2.335 $265,000.00 N
600072154 CHALLAPPA,MURLI 2.00 2.75 12.50 2.750 2.500 2.335 $107,000.00 N
600072155 OSBORNE,J. S 2.00 2.75 12.50 2.750 2.500 2.335 $294,891.00 N
600072156 EDSALL,RICHARD J 2.00 2.75 12.50 2.750 2.500 2.335 $387,166.00 N
600072157 GARCIA,VICTOR F 2.00 2.75 12.50 2.750 2.500 2.335 $506,323.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 37
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072159 CLARK,WILLIAM T 4 SURREY LANE NORTH SALE NY 10560 $786,740.38
600072160 WILLIAMS,MICHAEL J 2272 HIDDEN POND LAN MARTINEZ CA 94553 $389,449.59
600072161 RIDENOUR,DONALD E 235 ELM STREET CINCINNATI OH 45215 $160,317.33
600072162 CASEY,DIANE E 3681 CALICO AVENUE SAN JOSE CA 95124 $221,192.83
600072163 BRUNETTE,WILLIAM M 2481 W ROOKWOOD COURT CINCINNATI OH 45208 $241,950.28
600072164 THAYER,MONTY L 6615 WICKVILLE DRIVE CHARLOTTE NC 28215 $127,492.98
600072165 REED,RONALD M 5948 S NOME STREET ENGLEWOOD CO 80150 $243,727.81
600072167 EHRHARDT,RICHARD C 11201 VINTAGE DRIVE RANCHO CUC CA 91701 $205,410.88
600072168 SIMONIAN,GEORGE M 940 HAWTHORNE LANE LIBERTYVIL IL 60048 $119,850.75
600072169 SHELTON,JAMES E 16534 N WOODSON DRIVE RAMONA CA 92065 $416,053.12
600072171 MITCHELL,PAUL N 1000 DAWES LIBERTYVIL IL 60048 $206,815.83
600072172 MOORE,SAMUEL 8905 APPLESEED DRIVE CINCINNATI OH 45249 $240,714.69
600072173 FITZPATRICK,TIMOTHY R 57 MEADOWOOD DRIVE LARKSPUR CA 94939 $370,637.82
600072174 SUNG,JAMES 2261 GRAPEVINE TERRA FREMONT CA 94539 $680,845.46
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072159 CLARK,WILLIAM T 7.500 .250 7.250 .1650 7.085 06/01/2026
600072160 WILLIAMS,MICHAEL J 7.500 .250 7.250 .1650 7.085 05/01/2026
600072161 RIDENOUR,DONALD E 7.500 .250 7.250 .1650 7.085 05/01/2026
600072162 CASEY,DIANE E 7.500 .250 7.250 .1650 7.085 06/01/2026
600072163 BRUNETTE,WILLIAM M 7.500 .250 7.250 .1650 7.085 05/01/2026
600072164 THAYER,MONTY L 7.500 .250 7.250 .1650 7.085 05/01/2026
600072165 REED,RONALD M 7.500 .250 7.250 .1650 7.085 05/01/2026
600072167 EHRHARDT,RICHARD C 7.500 .250 7.250 .1650 7.085 05/01/2026
600072168 SIMONIAN,GEORGE M 7.500 .250 7.250 .1650 7.085 05/01/2026
600072169 SHELTON,JAMES E 7.500 .250 7.250 .1650 7.085 06/01/2026
600072171 MITCHELL,PAUL N 7.500 .250 7.250 .1650 7.085 06/01/2026
600072172 MOORE,SAMUEL 7.500 .250 7.250 .1650 7.085 05/01/2026
600072173 FITZPATRICK,TIMOTHY R 7.500 .250 7.250 .1650 7.085 06/01/2026
600072174 SUNG,JAMES 7.500 .250 7.250 .1650 7.085 04/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072159 CLARK,WILLIAM T 91881993 $5,565.75 09/01/1997 360
600072160 WILLIAMS,MICHAEL J 91881571 $2,796.86 19 09/01/1997 360
600072161 RIDENOUR,DONALD E 91881525 $1,223.63 09/01/1997 360
600072162 CASEY,DIANE E 91881400 $1,566.24 19 09/01/1997 360
600072163 BRUNETTE,WILLIAM M 91880186 $1,713.08 09/01/1997 360
600072164 THAYER,MONTY L 91880073 $902.69 09/01/1997 360
600072165 REED,RONALD M 91879834 $1,725.67 09/01/1997 360
600072167 EHRHARDT,RICHARD C 91879246 $1,454.37 09/01/1997 360
600072168 SIMONIAN,GEORGE M 91878849 $1,678.11 09/01/1997 360
600072169 SHELTON,JAMES E 91878384 $2,943.35 2 09/01/1997 360
600072171 MITCHELL,PAUL N 91878085 $1,463.11 1 09/01/1997 360
600072172 MOORE,SAMUEL 91878012 $1,704.34 09/01/1997 360
600072173 FITZPATRICK,TIMOTHY R 91877728 $2,622.05 09/01/1997 360
600072174 SUNG,JAMES 91877539 $4,824.58 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072159 CLARK,WILLIAM T 2.00 2.75 12.50 2.750 2.500 2.335 $995,000.00 N
600072160 WILLIAMS,MICHAEL J 2.00 2.75 12.50 2.750 2.500 2.335 $463,000.00 N
600072161 RIDENOUR,DONALD E 2.00 2.75 12.50 2.750 2.500 2.335 $290,000.00 N
600072162 CASEY,DIANE E 2.00 2.75 12.50 2.750 2.500 2.335 $236,000.00 N
600072163 BRUNETTE,WILLIAM M 2.00 2.75 12.50 2.750 2.500 2.335 $340,000.00 N
600072164 THAYER,MONTY L 2.00 2.75 12.50 2.750 2.500 2.335 $161,400.00 N
600072165 REED,RONALD M 2.00 2.75 12.50 2.750 2.500 2.335 $308,500.00 N
600072167 EHRHARDT,RICHARD C 2.00 2.75 12.50 2.750 2.500 2.335 $280,000.00 N
600072168 SIMONIAN,GEORGE M 2.00 2.75 12.50 2.750 2.500 2.335 $351,500.00 N
600072169 SHELTON,JAMES E 2.00 2.75 12.50 2.750 2.500 2.335 $473,000.00 N
600072171 MITCHELL,PAUL N 2.00 2.75 12.50 2.750 2.500 2.335 $232,500.00 N
600072172 MOORE,SAMUEL 2.00 2.75 12.50 2.750 2.500 2.335 $305,000.00 N
600072173 FITZPATRICK,TIMOTHY R 2.00 2.75 12.50 2.750 2.500 2.335 $720,000.00 N
600072174 SUNG,JAMES 2.00 2.75 12.50 2.750 2.500 2.335 $950,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 38
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072175 DAVIS,KEVIN D 3306 PORTER STREET N WASHINGTON DC 20008 $351,523.34
600072176 SCHAEFFER,DAVID B 6420 E BASELINE RD. BOZEMAN MT 59715 $182,104.71
600072177 THOMPSON,JEFFERY D 181 ROCKAWAY O'FALLON MO 63366 $102,211.63
600072178 EVANS,RICHARD E 216 CHARTER OAK ROA SOUTHBURY CT 6488 $219,236.59
600072179 MICOZZI,GERARD 2934 GERTRUDE AVE LA CRESCEN CA 91214 $256,550.41
600072180 GUPTA,PRAMOD K 12600 W 121ST TERRACE OVERLAND P KS 66213 $187,634.93
600072181 FREDERICKS,GLENN H 16 SHAMROCK DRIVE BROOKFIELD CT 6804 $253,786.13
600072182 KILMARTIN,MICHAEL T 12 CATAMARAN LAKE ST LO MO 63367 $64,219.71
600072183 GREAN,PETER D 8390 HOLLYWOOD BOULE LOS ANGELE CA 90069 $329,321.75
600072184 BERRY,JASON W 2 BREAKER LANE REDWOOD CI CA 94065 $273,650.69
600072185 CHASTAIN,ARTHUR M 14 LA ROCHELLE LAKE ST LO MO 63367 $83,078.81
600072186 AHRENSSR.,ALLAN J 8392 SQUIRRELRIDGE D CINCINNATI OH 45243 $59,203.91
600072187 SIMITZ,ROBERT M 3928 N GREENVIEW CHICAGO IL 60613 $196,424.14
600072188 LEY,STEPHEN J ARROWH EAD CONDOMINIUM BIG SKY MT 59716 $197,346.49
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072175 DAVIS,KEVIN D 7.500 .250 7.250 .1650 7.085 04/01/2026
600072176 SCHAEFFER,DAVID B 7.500 .250 7.250 .1650 7.085 05/01/2026
600072177 THOMPSON,JEFFERY D 7.500 .250 7.250 .1650 7.085 05/01/2026
600072178 EVANS,RICHARD E 7.500 .250 7.250 .1650 7.085 05/01/2026
600072179 MICOZZI,GERARD 7.500 .250 7.250 .1650 7.085 04/01/2026
600072180 GUPTA,PRAMOD K 7.500 .250 7.250 .1650 7.085 05/01/2026
600072181 FREDERICKS,GLENN H 7.500 .250 7.250 .1650 7.085 05/01/2026
600072182 KILMARTIN,MICHAEL T 7.500 .250 7.250 .1650 7.085 05/01/2026
600072183 GREAN,PETER D 7.500 .250 7.250 .1650 7.085 04/01/2026
600072184 BERRY,JASON W 7.500 .250 7.250 .1650 7.085 05/01/2026
600072185 CHASTAIN,ARTHUR M 7.500 .250 7.250 .1650 7.085 04/01/2026
600072186 AHRENSSR.,ALLAN J 7.500 .250 7.250 .1650 7.085 04/01/2026
600072187 SIMITZ,ROBERT M 7.500 .250 7.250 .1650 7.085 05/01/2026
600072188 LEY,STEPHEN J 7.500 .250 7.250 .1650 7.085 04/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072175 DAVIS,KEVIN D 91877399 $2,490.96 1 09/01/1997 360
600072176 SCHAEFFER,DAVID B 91876236 $1,289.35 1 09/01/1997 360
600072177 THOMPSON,JEFFERY D 91875789 $723.69 19 09/01/1997 360
600072178 EVANS,RICHARD E 91875511 $1,552.26 09/01/1997 360
600072179 MICOZZI,GERARD 91875239 $1,817.96 09/01/1997 360
600072180 GUPTA,PRAMOD K 91875108 $1,328.51 09/01/1997 360
600072181 FREDERICKS,GLENN H 91875013 $1,810.97 19 09/01/1997 360
600072182 KILMARTIN,MICHAEL T 91874498 $455.19 09/01/1997 360
600072183 GREAN,PETER D 91874367 $2,333.63 09/01/1997 360
600072184 BERRY,JASON W 91874035 $1,937.53 14 09/01/1997 360
600072185 CHASTAIN,ARTHUR M 91873974 $592.93 09/01/1997 360
600072186 AHRENSSR.,ALLAN J 91873792 $419.53 09/01/1997 360
600072187 SIMITZ,ROBERT M 91873381 $1,390.74 19 09/01/1997 360
600072188 LEY,STEPHEN J 91873367 $1,398.43 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072175 DAVIS,KEVIN D 2.00 2.75 12.50 2.750 2.500 2.335 $375,000.00 N
600072176 SCHAEFFER,DAVID B 2.00 2.75 12.50 2.750 2.500 2.335 $204,900.00 N
600072177 THOMPSON,JEFFERY D 2.00 2.75 12.50 2.750 2.500 2.335 $115,000.00 N
600072178 EVANS,RICHARD E 2.00 2.75 12.50 2.750 2.500 2.335 $290,000.00 N
600072179 MICOZZI,GERARD 2.00 2.75 12.50 2.750 2.500 2.335 $325,000.00 N
600072180 GUPTA,PRAMOD K 2.00 2.75 12.50 2.750 2.500 2.335 $238,000.00 N
600072181 FREDERICKS,GLENN H 2.00 2.75 12.50 2.750 2.500 2.335 $283,000.00 N
600072182 KILMARTIN,MICHAEL T 2.00 2.75 12.50 2.750 2.500 2.335 $81,400.00 N
600072183 GREAN,PETER D 2.00 2.75 12.50 2.750 2.500 2.335 $445,000.00 N
600072184 BERRY,JASON W 2.00 2.75 12.50 2.750 2.500 2.335 $291,718.00 N
600072185 CHASTAIN,ARTHUR M 2.00 2.75 12.50 2.750 2.500 2.335 $106,000.00 N
600072186 AHRENSSR.,ALLAN J 2.00 2.75 12.50 2.750 2.500 2.335 $254,000.00 N
600072187 SIMITZ,ROBERT M 2.00 2.75 12.50 2.750 2.500 2.335 $221,000.00 N
600072188 LEY,STEPHEN J 2.00 2.75 12.50 2.750 2.500 2.335 $275,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 39
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072189 CARROLL,W W 4220 NORTHRIDGE NORMAN OK 73072 $110,514.05
600072190 MELHUISH,MARK 26 MAPLE AVE NORTH WESTPORT CT 6880 $352,967.99
600072192 FUNTAL,JOSEPH M 4 BEN AVON HEIGHT PITTSBURGH PA 15202 $84,337.79
600072193 MELLEN,BRIAN 1330 TEMPLE HILLS DR LAGUNA BEA CA 92651 $493,366.14
600072195 CLOOS,ROBERT P 300 WEWAKA BROOK RO BRIDGEWATE CT 6752 $107,000.01
600072196 SMITH,ERNEST M 2929 LOOKOUT VIEW DR GOLDEN CO 80401 $108,630.71
600072197 REDDING,DANIEL 2402 GRAND CANAL VENICE (AR CA 90291 $641,376.23
600072198 HAHN,SOON K 511 VIA DELFIN SAN CLEMEN CA 92672 $317,462.25
600072199 ARNOLD,SHARON A 2190 VIZCAYA CIRCLE SAN JOSE CA 95124 $266,392.99
600072200 DANSE,JAMES A 705 MISSION AVE SAN RAFAEL CA 94903 $241,135.33
600072201 MA,TRAVIS L 3422 HILLCREST DRIVE BELMONT CA 94002 $266,355.13
600072202 COLLINS,CORBIN J 1110S 263RD WEST SAND SPRIN OK 74063 $102,789.20
600072203 FARIVAR,FIROUZ 29 ORANGEGROVE IRVINE CA 92714 $265,182.72
600072204 ROTHMAN,DONALD E 24 MACNEIL CIRCLE MARLBOROUG MA 1752 $203,513.58
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072189 CARROLL,W W 7.500 .250 7.250 .1650 7.085 04/01/2026
600072190 MELHUISH,MARK 7.500 .250 7.250 .1650 7.085 04/01/2026
600072192 FUNTAL,JOSEPH M 7.500 .250 7.250 .1650 7.085 04/01/2026
600072193 MELLEN,BRIAN 7.500 .250 7.250 .1650 7.085 04/01/2026
600072195 CLOOS,ROBERT P 7.500 .250 7.250 .1650 7.085 05/01/2026
600072196 SMITH,ERNEST M 7.500 .250 7.250 .1650 7.085 05/01/2026
600072197 REDDING,DANIEL 7.500 .250 7.250 .1650 7.085 04/01/2026
600072198 HAHN,SOON K 7.500 .250 7.250 .1650 7.085 03/01/2026
600072199 ARNOLD,SHARON A 7.500 .250 7.250 .1650 7.085 03/01/2026
600072200 DANSE,JAMES A 7.500 .250 7.250 .1650 7.085 03/01/2026
600072201 MA,TRAVIS L 7.500 .250 7.250 .1650 7.085 02/01/2026
600072202 COLLINS,CORBIN J 7.500 .250 7.250 .1650 7.085 06/01/2026
600072203 FARIVAR,FIROUZ 7.500 .250 7.250 .1650 7.085 02/01/2026
600072204 ROTHMAN,DONALD E 7.500 .250 7.250 .1650 7.085 04/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072189 CARROLL,W W 91872782 $783.12 09/01/1997 360
600072190 MELHUISH,MARK 91871579 $2,501.19 19 09/01/1997 360
600072192 FUNTAL,JOSEPH M 91871299 $597.83 19 09/01/1997 360
600072193 MELLEN,BRIAN 91870286 $3,496.08 09/01/1997 360
600072195 CLOOS,ROBERT P 91868971 $839.06 09/01/1997 360
600072196 SMITH,ERNEST M 91866812 $769.14 09/01/1997 360
600072197 REDDING,DANIEL 91866045 $4,544.89 09/01/1997 360
600072198 HAHN,SOON K 91864894 $2,251.47 09/01/1997 360
600072199 ARNOLD,SHARON A 91862070 $1,913.75 09/01/1997 360
600072200 DANSE,JAMES A 91862064 $1,748.04 09/01/1997 360
600072201 MA,TRAVIS L 91861730 $1,890.68 09/01/1997 360
600072202 COLLINS,CORBIN J 91861638 $727.18 09/01/1997 360
600072203 FARIVAR,FIROUZ 91860390 $1,882.29 1 09/01/1997 360
600072204 ROTHMAN,DONALD E 91860112 $1,442.13 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072189 CARROLL,W W 2.00 2.75 12.50 2.750 2.500 2.335 $140,000.00 N
600072190 MELHUISH,MARK 2.00 2.75 12.50 2.750 2.500 2.335 $397,460.00 N
600072192 FUNTAL,JOSEPH M 2.00 2.75 12.50 2.750 2.500 2.335 $90,000.00 N
600072193 MELLEN,BRIAN 2.00 2.75 12.50 2.750 2.500 2.335 $675,000.00 N
600072195 CLOOS,ROBERT P 2.00 2.75 12.50 2.750 2.500 2.335 $150,000.00 N
600072196 SMITH,ERNEST M 2.00 2.75 12.50 2.750 2.500 2.335 $148,000.00 N
600072197 REDDING,DANIEL 2.00 2.75 12.50 2.750 2.500 2.335 $920,000.00 N
600072198 HAHN,SOON K 2.00 2.75 12.50 2.750 2.500 2.335 $410,000.00 N
600072199 ARNOLD,SHARON A 2.00 2.75 12.50 2.750 2.500 2.335 $364,990.00 N
600072200 DANSE,JAMES A 2.00 2.75 12.50 2.750 2.500 2.335 $550,000.00 N
600072201 MA,TRAVIS L 2.00 2.75 12.50 2.750 2.500 2.335 $338,500.00 N
600072202 COLLINS,CORBIN J 2.00 2.75 12.50 2.750 2.500 2.335 $130,000.00 N
600072203 FARIVAR,FIROUZ 2.00 2.75 12.50 2.750 2.500 2.335 $283,400.00 N
600072204 ROTHMAN,DONALD E 2.00 2.75 12.50 2.750 2.500 2.335 $275,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 40
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072205 WALSH,TIMOTHY J 19550 DOUGLASS LANE SARATOGA CA 95070 $720,337.67
600072206 NICHOLSON,MICHAEL 19971 CROW CREEK ROAD CASTRO VAL CA 94552 $276,375.22
600072207 RIELE,GARY S 467 LOVE LANE DANVILLE CA 94596 $372,359.22
600072208 KOWALIK,KRZYSZTOF 482 STAGECOACH ROAD TOWNSHIP O NJ 8510 $159,223.89
600072209 HERMAN,MICHAEL L 744 ROWLAND BOULEVA NOVATO CA 94947 $282,344.01
600072211 RICKABUS,DANIEL 8 ASPEN LEAF DOVE CANYO CA 91701 $327,142.48
600072212 DHILLON,TARA S 10687 RIDGE CANYON RO RANCHO CUC CA 91737 $258,647.68
600072213 SIERRA,JUAN J 6153 YEADON WAY SAN JOSE CA 95119 $249,216.83
600072214 SCIANAMBLO,MARY J 23 MARSH ROAD TIBURON CA 94920 $276,326.02
600072215 GREENE,DONALD R 197 VILLAGE DRIVE CRANBERRY PA 16066 $165,998.01
600072218 HUSTON,JOHN 26763 WEMBLEY FARMINGTON MI 48331 $492,120.99
600072219 SEIM,LISA A 307 MERIDIAN DRIVE0 REDWOOD CI CA 94065 $255,389.07
600072220 BRYZA,WILLIAM K 24567 OVERLAND DRIVE LOS ANGELE CA 91307 $258,093.62
600072221 CARPIO,PAUL A 606 CLAIRE PLACE SAN RAMON CA 94583 $216,903.02
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072205 WALSH,TIMOTHY J 7.500 .250 7.250 .1650 7.085 02/01/2026
600072206 NICHOLSON,MICHAEL 7.500 .250 7.250 .1650 7.085 01/01/2026
600072207 RIELE,GARY S 7.500 .250 7.250 .1650 7.085 02/01/2026
600072208 KOWALIK,KRZYSZTOF 7.500 .250 7.250 .1650 7.085 03/01/2026
600072209 HERMAN,MICHAEL L 7.500 .250 7.250 .1650 7.085 02/01/2026
600072211 RICKABUS,DANIEL 7.500 .250 7.250 .1650 7.085 01/01/2026
600072212 DHILLON,TARA S 7.500 .250 7.250 .1650 7.085 01/01/2026
600072213 SIERRA,JUAN J 7.500 .250 7.250 .1650 7.085 06/01/2026
600072214 SCIANAMBLO,MARY J 7.500 .250 7.250 .1650 7.085 01/01/2026
600072215 GREENE,DONALD R 7.500 .250 7.250 .1650 7.085 12/01/2025
600072218 HUSTON,JOHN 7.500 .250 7.250 .1650 7.085 01/01/2026
600072219 SEIM,LISA A 7.500 .250 7.250 .1650 7.085 12/01/2025
600072220 BRYZA,WILLIAM K 7.500 .250 7.250 .1650 7.085 12/01/2025
600072221 CARPIO,PAUL A 7.500 .250 7.250 .1650 7.085 11/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072205 WALSH,TIMOTHY J 91859679 $5,113.01 09/01/1997 360
600072206 NICHOLSON,MICHAEL 91858787 $1,963.39 09/01/1997 360
600072207 RIELE,GARY S 91858712 $2,643.03 09/01/1997 360
600072208 KOWALIK,KRZYSZTOF 91858711 $1,129.24 19 09/01/1997 360
600072209 HERMAN,MICHAEL L 91858673 $2,013.74 09/01/1997 360
600072211 RICKABUS,DANIEL 91856979 $2,327.34 7 09/01/1997 360
600072212 DHILLON,TARA S 91856607 $1,837.54 19 09/01/1997 360
600072213 SIERRA,JUAN J 91856379 $1,763.07 1 09/01/1997 360
600072214 SCIANAMBLO,MARY J 91855891 $1,963.04 19 09/01/1997 360
600072215 GREENE,DONALD R 91855545 $1,180.28 09/01/1997 360
600072218 HUSTON,JOHN 91854244 $3,496.07 09/01/1997 360
600072219 SEIM,LISA A 91853190 $1,815.87 19 09/01/1997 360
600072220 BRYZA,WILLIAM K 91851435 $1,835.09 1 09/01/1997 360
600072221 CARPIO,PAUL A 91848948 $1,557.50 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072205 WALSH,TIMOTHY J 2.00 2.75 12.50 2.750 2.500 2.335 $1,075,000.00 N
600072206 NICHOLSON,MICHAEL 2.00 2.75 12.50 2.750 2.500 2.335 $351,000.00 N
600072207 RIELE,GARY S 2.00 2.75 12.50 2.750 2.500 2.335 $555,000.00 N
600072208 KOWALIK,KRZYSZTOF 2.00 2.75 12.50 2.750 2.500 2.335 $170,000.00 N
600072209 HERMAN,MICHAEL L 2.00 2.75 12.50 2.750 2.500 2.335 $360,000.00 N
600072211 RICKABUS,DANIEL 2.00 2.75 12.50 2.750 2.500 2.335 $369,838.00 N
600072212 DHILLON,TARA S 2.00 2.75 12.50 2.750 2.500 2.335 $292,000.00 N
600072213 SIERRA,JUAN J 2.00 2.75 12.50 2.750 2.500 2.335 $265,445.00 N
600072214 SCIANAMBLO,MARY J 2.00 2.75 12.50 2.750 2.500 2.335 $312,000.00 N
600072215 GREENE,DONALD R 2.00 2.75 12.50 2.750 2.500 2.335 $211,000.00 N
600072218 HUSTON,JOHN 2.00 2.75 12.50 2.750 2.500 2.335 $825,000.00 N
600072219 SEIM,LISA A 2.00 2.75 12.50 2.750 2.500 2.335 $273,385.00 N
600072220 BRYZA,WILLIAM K 2.00 2.75 12.75 2.750 2.500 2.335 $291,990.00 N
600072221 CARPIO,PAUL A 2.00 2.75 12.50 2.750 2.500 2.335 $247,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 41
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072222 ANDERSONJR.,REUEL L 9 TURKEY TRAIL HOUSTON TX 77079 $324,134.12
600072224 KLINE,WILLIAM D 1153 SALEM RIDGE CINCINNATI OH 45230 $255,020.33
600072225 COLE,NEIL D 9 COLT'S MEADOW R DOWNINGTOW PA 19335 $98,084.90
600072226 BELPASSO,THOMAS J 1854 DRY CREEK ROAD SAN JOSE CA 95124 $246,519.59
600072227 ZEGLIN,RONALD F 15125 GINGER CREEK ORLAND PAR IL 60402 $215,596.92
600072228 JENSENJR.,RONALD P 1206 CHICKASAW DRIVE BRENTWOOD TN 37027 $132,298.05
600072229 LEE DENNIS,SANDRA 8405 MILL STATION RO SEBASTOPOL CA 95472 $254,796.25
600072230 CAPARROTTA,MAURICE 9 PARK AVE UNIT 2 HULL MA 2045 $43,007.68
600072231 DEHN,JOHN C 1613 MORREN DRIVE NORMAN OK 73071 $59,583.20
600072232 O'REILLY,JOHN J 736 S HAMPTON DRIV PALO ALTO CA 94303 $560,055.77
600072233 CARTER,MILES G 13844 LE BATEAU ISLE PALM BEACH FL 33408 $701,374.00
600072234 WILKES,JAMES E 1000 GRANDVIEW AVENU PITTSBURGH PA 15211 $97,912.00
600072235 WATROBA,GREG 32 TAMPA DRIVE SAN RAFAEL CA 94901 $239,551.80
600072237 SCHACHTER,BERNARD I 40 HARVEY LANE WESTBORO MA 1581 $190,683.34
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072222 ANDERSONJR.,REUEL L 7.500 .250 7.250 .1650 7.085 11/01/2025
600072224 KLINE,WILLIAM D 7.500 .250 7.250 .1650 7.085 09/01/2025
600072225 COLE,NEIL D 7.500 .250 7.250 .1650 7.085 09/01/2025
600072226 BELPASSO,THOMAS J 7.500 .250 7.250 .1650 7.085 09/01/2025
600072227 ZEGLIN,RONALD F 7.500 .250 7.250 .1650 7.085 08/01/2025
600072228 JENSENJR.,RONALD P 7.500 .250 7.250 .1650 7.085 08/01/2025
600072229 LEE DENNIS,SANDRA 7.500 .250 7.250 .1650 7.085 08/01/2025
600072230 CAPARROTTA,MAURICE 7.500 .250 7.250 .1650 7.085 08/01/2025
600072231 DEHN,JOHN C 7.500 .250 7.250 .1650 7.085 08/01/2025
600072232 O'REILLY,JOHN J 7.500 .250 7.250 .1650 7.085 07/01/2025
600072233 CARTER,MILES G 7.500 .250 7.250 .1650 7.085 08/01/2025
600072234 WILKES,JAMES E 7.500 .250 7.250 .1650 7.085 07/01/2025
600072235 WATROBA,GREG 7.500 .250 7.250 .1650 7.085 07/01/2025
600072237 SCHACHTER,BERNARD I 7.500 .250 7.250 .1650 7.085 07/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072222 ANDERSONJR.,REUEL L 91847449 $2,307.41 09/01/1997 360
600072224 KLINE,WILLIAM D 91836030 $1,817.96 09/01/1997 360
600072225 COLE,NEIL D 91833796 $699.21 09/01/1997 360
600072226 BELPASSO,THOMAS J 91832234 $1,758.52 09/01/1997 360
600072227 ZEGLIN,RONALD F 91830944 $1,538.27 09/01/1997 360
600072228 JENSENJR.,RONALD P 91830079 $943.94 09/01/1997 360
600072229 LEE DENNIS,SANDRA 91829897 $1,817.96 09/01/1997 360
600072230 CAPARROTTA,MAURICE 91827596 $307.65 09/01/1997 360
600072231 DEHN,JOHN C 91826133 $425.12 2 09/01/1997 360
600072232 O'REILLY,JOHN J 91825238 $3,999.51 09/01/1997 360
600072233 CARTER,MILES G 91824400 $5,004.26 09/01/1997 360
600072234 WILKES,JAMES E 91823499 $699.21 09/01/1997 360
600072235 WATROBA,GREG 91822607 $1,713.08 09/01/1997 360
600072237 SCHACHTER,BERNARD I 91821004 $1,361.72 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072222 ANDERSONJR.,REUEL L 2.00 2.75 12.50 2.750 2.500 2.335 $440,000.00 N
600072224 KLINE,WILLIAM D 2.00 2.75 12.75 2.750 2.500 2.335 $376,000.00 N
600072225 COLE,NEIL D 2.00 2.75 13.13 2.750 2.500 2.335 $225,000.00 N
600072226 BELPASSO,THOMAS J 2.00 2.75 13.13 2.750 2.500 2.335 $330,000.00 N
600072227 ZEGLIN,RONALD F 2.00 2.75 12.75 2.750 2.500 2.335 $350,000.00 N
600072228 JENSENJR.,RONALD P 2.00 2.75 13.13 2.750 2.500 2.335 $235,000.00 N
600072229 LEE DENNIS,SANDRA 2.00 2.75 12.88 2.750 2.500 2.335 $363,000.00 N
600072230 CAPARROTTA,MAURICE 2.00 2.75 13.13 2.750 2.500 2.335 $55,500.00 N
600072231 DEHN,JOHN C 2.00 2.75 13.13 2.750 2.500 2.335 $64,000.00 N
600072232 O'REILLY,JOHN J 2.00 2.75 13.13 2.750 2.500 2.335 $980,000.00 N
600072233 CARTER,MILES G 2.00 2.75 13.13 2.750 2.500 2.335 $980,000.00 N
600072234 WILKES,JAMES E 2.00 2.75 13.13 2.750 2.500 2.335 $140,000.00 N
600072235 WATROBA,GREG 2.00 2.75 13.13 2.750 2.500 2.335 $385,000.00 N
600072237 SCHACHTER,BERNARD I 2.00 2.75 13.13 2.750 2.500 2.335 $205,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 42
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072238 PUZA,STANLEY R 46 STRYKER BRIDGEWATE NJ 8807 $194,257.17
600072239 WILKE,JAMES L 9520 W STANFORD DRI MEQUON WI 53092 $151,897.89
600072240 CHRISTMAN,JOHN A 7 HOWES CT RIDGEFIELD CT 6877 $295,499.35
600072241 BREGMAN,MARK F 690 RIDGEBURY ROAD RIDGEFIELD CT 6877 $453,331.99
600072243 YOUNG,WILLIAM G 170 E ROCKS ROAD NORWALK CT 6851 $343,670.70
600072244 DELLARIA,JAMES A 60 SHEPARD AVENUE DEL WATER PA 18327 $70,283.12
600072245 HIRSCH,ALAN T 1933 W PATTERSON CHICAGO IL 60613 $230,092.99
600072246 BOULDIN,KENNETH A 615 BELLE MEADE BLV NASHVILLE TN 37205 $215,895.59
600072262 CHOU,CHIEN C 6349 HEMATITE COURT SAN JOSE CA 95135 $247,913.31
600072281 SCHLOSS,STEVEN K 15 CITRUS COURT HILLSBOROU CA 94010 $810,855.70
600072283 COHEN,MICHAEL A 13231 SW30TH COURT DAVIE FL 33330 $230,604.33
600072287 SELIGSON,JOHN D 4057 ALBERT CIRCLE EL DORADO CA 95762 $379,469.40
600072328 JOHNSTONE,THOMAS E 407 CHRISLENA LANE WESTCHESTE PA 19380 $212,027.25
600072329 SCHWAB,KENT A 273 MONETA WAY CAMPBELL CA 95008 $185,276.19
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072238 PUZA,STANLEY R 7.500 .250 7.250 .1650 7.085 07/01/2025
600072239 WILKE,JAMES L 7.500 .250 7.250 .1650 7.085 08/01/2025
600072240 CHRISTMAN,JOHN A 7.500 .250 7.250 .1650 7.085 07/01/2025
600072241 BREGMAN,MARK F 7.500 .250 7.250 .1650 7.085 07/01/2025
600072243 YOUNG,WILLIAM G 7.500 .250 7.250 .1650 7.085 07/01/2025
600072244 DELLARIA,JAMES A 7.500 .250 7.250 .1650 7.085 07/01/2025
600072245 HIRSCH,ALAN T 7.500 .250 7.250 .1650 7.085 07/01/2025
600072246 BOULDIN,KENNETH A 7.500 .250 7.250 .1650 7.085 07/01/2025
600072262 CHOU,CHIEN C 7.500 .250 7.250 .1650 7.085 09/01/2026
600072281 SCHLOSS,STEVEN K 7.500 .250 7.250 .1650 7.085 09/01/2026
600072283 COHEN,MICHAEL A 7.500 .250 7.250 .1650 7.085 09/01/2026
600072287 SELIGSON,JOHN D 7.500 .250 7.250 .1650 7.085 09/01/2026
600072328 JOHNSTONE,THOMAS E 7.500 .250 7.250 .1650 7.085 09/01/2026
600072329 SCHWAB,KENT A 7.500 .250 7.250 .1650 7.085 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072238 PUZA,STANLEY R 91819866 $1,387.24 09/01/1997 360
600072239 WILKE,JAMES L 91818397 $1,083.78 09/01/1997 360
600072240 CHRISTMAN,JOHN A 91818258 $2,132.60 09/01/1997 360
600072241 BREGMAN,MARK F 91818200 $3,237.36 19 09/01/1997 360
600072243 YOUNG,WILLIAM G 91815129 $2,454.24 19 09/01/1997 360
600072244 DELLARIA,JAMES A 91814047 $503.43 09/01/1997 360
600072245 HIRSCH,ALAN T 91813946 $1,643.15 09/01/1997 360
600072246 BOULDIN,KENNETH A 91810011 $1,541.77 19 09/01/1997 360
600072262 CHOU,CHIEN C 91898641 $1,776.36 09/01/1997 360
600072281 SCHLOSS,STEVEN K 92401563 $5,722.37 09/01/1997 360
600072283 COHEN,MICHAEL A 92401054 $1,627.43 14 09/01/1997 360
600072287 SELIGSON,JOHN D 92400205 $2,677.99 09/01/1997 360
600072328 JOHNSTONE,THOMAS E 91895184 $1,496.32 09/01/1997 360
600072329 SCHWAB,KENT A 91895173 $1,307.53 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072238 PUZA,STANLEY R 2.00 2.75 13.13 2.750 2.500 2.335 $248,000.00 N
600072239 WILKE,JAMES L 2.00 2.75 13.13 2.750 2.500 2.335 $199,000.00 N
600072240 CHRISTMAN,JOHN A 2.00 2.75 13.13 2.750 2.500 2.335 $394,910.00 N
600072241 BREGMAN,MARK F 2.00 2.75 13.13 2.750 2.500 2.335 $545,000.00 N
600072243 YOUNG,WILLIAM G 2.00 2.75 13.13 2.750 2.500 2.335 $390,000.00 N
600072244 DELLARIA,JAMES A 2.00 2.75 13.13 2.750 2.500 2.335 $90,000.00 N
600072245 HIRSCH,ALAN T 2.00 2.75 13.13 2.750 2.500 2.335 $295,000.00 N
600072246 BOULDIN,KENNETH A 2.00 2.75 13.13 2.750 2.500 2.335 $245,000.00 N
600072262 CHOU,CHIEN C 2.00 2.75 12.50 2.750 2.500 2.335 $404,081.00 N
600072281 SCHLOSS,STEVEN K 2.00 2.75 12.50 2.750 2.500 2.335 $1,023,000.00 N
600072283 COHEN,MICHAEL A 2.00 2.75 12.50 2.750 2.500 2.335 $245,000.00 N
600072287 SELIGSON,JOHN D 2.00 2.75 12.50 2.750 2.500 2.335 $510,000.00 N
600072328 JOHNSTONE,THOMAS E 2.00 2.75 12.50 2.750 2.500 2.335 $294,000.00 N
600072329 SCHWAB,KENT A 2.00 2.75 12.50 2.750 2.500 2.335 $422,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 43
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072330 POYET,JEAN-PIERRE H 5 BAYARD LARCHMONT NY 10538 $416,128.30
600072331 WILSON,JAMES D 107 HARBOR SHORE CO MOORESVILL NC 28115 $253,435.36
600072332 CORNEJO,JOSE M 12116 PERSIMMON AVE.N ALBUQUERQU NM 87111 $265,029.16
600072333 WATERS,ANN B 9010 E 95TH ST TULSA OK 74133 $65,285.73
600072335 PILLAY,KENNETH D 4295 VERDIGRIS CIRCL SAN JOSE CA 95134 $282,967.19
600072336 KLASSEN,JOHN 540 PEAK'S VIEW DRI BOZEMAN MT 59715 $249,475.43
600072337 GRANZOW,RICHARD A 503 OAKMONT COURT ARNOLD MD 21012 $94,883.22
600072338 JAROS,KEITH A 107 MERAMEC RIDGE D VALLEYPARK MO 63026 $121,272.77
600072339 HAEBERLE,NANCY K 313 DUBLIN CIRCLE SMITHVILLE MO 64089 $124,557.65
600072365 GRABER,MICHAEL L 4005 MARTINA DRIVE PLANO TX 75093 $295,627.60
600072367 JONESJR,FRANK S 3120 OAK HILL PLACE CLARKSTON MI 48348 $212,893.14
600072368 BAUGH III,WENDELL P 175 CENTRAL AVENUE NAPLES FL 33940 $286,913.76
600072479 BURRISJR,GLENN C 18418 RIVER FORD DR DAVIDSON NC 28036 $314,690.72
600072481 CAPPS,PHILIP A 30500 LAQUNITA DRIVE GEORGETOWN TX 78628 $216,351.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072330 POYET,JEAN-PIERRE H 7.500 .250 7.250 .1650 7.085 09/01/2026
600072331 WILSON,JAMES D 7.500 .250 7.250 .1650 7.085 08/01/2026
600072332 CORNEJO,JOSE M 7.500 .250 7.250 .1650 7.085 09/01/2026
600072333 WATERS,ANN B 7.500 .250 7.250 .1650 7.085 07/01/2026
600072335 PILLAY,KENNETH D 7.500 .250 7.250 .1650 7.085 09/01/2026
600072336 KLASSEN,JOHN 7.500 .250 7.250 .1650 7.085 08/01/2026
600072337 GRANZOW,RICHARD A 7.500 .250 7.250 .1650 7.085 06/01/2026
600072338 JAROS,KEITH A 7.500 .250 7.250 .1650 7.085 08/01/2026
600072339 HAEBERLE,NANCY K 7.500 .250 7.250 .1650 7.085 08/01/2026
600072365 GRABER,MICHAEL L 7.625 .250 7.375 .1650 7.210 09/01/2026
600072367 JONESJR,FRANK S 7.625 .250 7.375 .1650 7.210 12/01/2025
600072368 BAUGH III,WENDELL P 7.625 .250 7.375 .1650 7.210 11/01/2025
600072479 BURRISJR,GLENN C 7.625 .250 7.375 .1650 7.210 09/01/2026
600072481 CAPPS,PHILIP A 7.625 .250 7.375 .1650 7.210 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072330 POYET,JEAN-PIERRE H 91893736 $2,936.70 09/01/1997 360
600072331 WILSON,JAMES D 91893634 $1,789.99 09/01/1997 360
600072332 CORNEJO,JOSE M 91889677 $1,870.36 1 09/01/1997 360
600072333 WATERS,ANN B 91888011 $461.48 19 09/01/1997 360
600072335 PILLAY,KENNETH D 91884132 $1,996.96 19 09/01/1997 360
600072336 KLASSEN,JOHN 91881971 $1,762.02 09/01/1997 360
600072337 GRANZOW,RICHARD A 91879569 $671.25 09/01/1997 360
600072338 JAROS,KEITH A 91876306 $856.54 09/01/1997 360
600072339 HAEBERLE,NANCY K 91873931 $882.76 1 09/01/1997 360
600072365 GRABER,MICHAEL L 91898606 $2,118.08 1 09/01/1997 360
600072367 JONESJR,FRANK S 91849904 $1,531.67 09/01/1997 360
600072368 BAUGH III,WENDELL P 91846264 $2,066.76 09/01/1997 360
600072479 BURRISJR,GLENN C 91896016 $2,259.28 09/01/1997 360
600072481 CAPPS,PHILIP A 91895621 $1,546.53 2 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072330 POYET,JEAN-PIERRE H 2.00 2.75 12.50 2.750 2.500 2.335 $526,500.00 N
600072331 WILSON,JAMES D 2.00 2.75 12.50 2.750 2.500 2.335 $320,000.00 N
600072332 CORNEJO,JOSE M 2.00 2.75 12.50 2.750 2.500 2.335 $314,700.00 N
600072333 WATERS,ANN B 2.00 2.75 12.50 2.750 2.500 2.335 $76,000.00 N
600072335 PILLAY,KENNETH D 2.00 2.75 12.50 2.750 2.500 2.335 $300,659.00 N
600072336 KLASSEN,JOHN 2.00 2.75 12.50 2.750 2.500 2.335 $352,500.00 N
600072337 GRANZOW,RICHARD A 2.00 2.75 12.50 2.750 2.500 2.335 $120,000.00 N
600072338 JAROS,KEITH A 2.00 2.75 12.50 2.750 2.500 2.335 $153,830.00 N
600072339 HAEBERLE,NANCY K 2.00 2.75 12.50 2.750 2.500 2.335 $140,285.00 N
600072365 GRABER,MICHAEL L 2.00 2.75 12.63 2.750 2.500 2.335 $315,000.00 N
600072367 JONESJR,FRANK S 2.00 2.75 12.63 2.750 2.500 2.335 $309,000.00 N
600072368 BAUGH III,WENDELL P 2.00 2.75 12.63 2.750 2.500 2.335 $379,000.00 N
600072479 BURRISJR,GLENN C 2.00 2.75 12.63 2.750 2.500 2.335 $399,000.00 N
600072481 CAPPS,PHILIP A 2.00 2.75 12.63 2.750 2.500 2.335 $230,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 44
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072482 PARISH,DAVID E 25916 NW27TH DRIVE REDMOND WA 98053 $307,806.03
600072485 NORMINGTONIII,ERNEST Y RR1 GOLF VIEW DRIVE EAST BUFFA PA 17837 $246,466.69
600072486 SEGAL,EVAN J 209 E WALDHEIM ROAD PITTSBURGH PA 15215 $257,469.94
600072487 ARONSON,ROD B 32 RICHMOND HILL IRVINGTON NY 10533 $258,448.44
600072488 SAMSON,DAVID 143 LOWER CHURCH HI WASHINGTON CT 6794 $594,134.30
600072489 COX,WILLIAM A 113 BOARDWALK PLACE DOTHEN AL 36303 $236,334.76
600072490 BUSE,J.B. 5855 GRAVES LAKE DRI CINCINNATI OH 45243 $321,822.73
600072492 LOVETT,WILLIAM B 2400 LOSANTIVILLE AV CINCINNATI OH 45237 $86,341.93
600072493 DORIAN,EDWARD S 32 WINTHROP DRIVE GREENWICH CT 6878 $606,016.93
600072494 CONNER,PATRICK J 18 REDGATE LANE SOUTHBOROU MA 1772 $262,904.45
600072495 DONNELLY,SUE E 35 MALLORCA WAY SAN FRANCI CA 94123 $322,093.03
600072496 DOOLEY,FRANCIS M 229 LITCHFIELD RD NORFOLK CT 6058 $341,627.19
600072500 READ,DAVID C 5805 WALNUT CREEK BL ST. CHARLE MO 63304 $115,143.91
600072501 QUILL,ERIN C 4662 HIDDEN POND DR. ALLISON PA PA 15101 $139,695.85
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072482 PARISH,DAVID E 7.625 .250 7.375 .1650 7.210 09/01/2026
600072485 NORMINGTONIII,ERNEST Y 7.625 .250 7.375 .1650 7.210 08/01/2026
600072486 SEGAL,EVAN J 7.625 .250 7.375 .1650 7.210 09/01/2026
600072487 ARONSON,ROD B 7.625 .250 7.375 .1650 7.210 08/01/2026
600072488 SAMSON,DAVID 7.625 .250 7.375 .1650 7.210 08/01/2026
600072489 COX,WILLIAM A 7.625 .250 7.375 .1650 7.210 09/01/2026
600072490 BUSE,J.B. 7.625 .250 7.375 .1650 7.210 08/01/2026
600072492 LOVETT,WILLIAM B 7.625 .250 7.375 .1650 7.210 08/01/2026
600072493 DORIAN,EDWARD S 7.625 .250 7.375 .1650 7.210 08/01/2026
600072494 CONNER,PATRICK J 7.625 .250 7.375 .1650 7.210 08/01/2026
600072495 DONNELLY,SUE E 7.625 .250 7.375 .1650 7.210 08/01/2026
600072496 DOOLEY,FRANCIS M 7.625 .250 7.375 .1650 7.210 08/01/2026
600072500 READ,DAVID C 7.625 .250 7.375 .1650 7.210 06/01/2026
600072501 QUILL,ERIN C 7.625 .250 7.375 .1650 7.210 06/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072482 PARISH,DAVID E 91895541 $2,198.41 2 09/01/1997 360
600072485 NORMINGTONIII,ERNEST Y 91894341 $1,761.70 1 09/01/1997 360
600072486 SEGAL,EVAN J 91893705 $1,840.26 09/01/1997 360
600072487 ARONSON,ROD B 91893218 $1,847.34 09/01/1997 360
600072488 SAMSON,DAVID 91893214 $4,246.76 09/01/1997 360
600072489 COX,WILLIAM A 91892914 $1,687.95 09/01/1997 360
600072490 BUSE,J.B. 91892826 $2,300.33 09/01/1997 360
600072492 LOVETT,WILLIAM B 91892687 $617.20 09/01/1997 360
600072493 DORIAN,EDWARD S 91891573 $4,331.70 09/01/1997 360
600072494 CONNER,PATRICK J 91890862 $1,879.19 19 09/01/1997 360
600072495 DONNELLY,SUE E 91890710 $2,310.24 09/01/1997 360
600072496 DOOLEY,FRANCIS M 91890694 $2,441.89 09/01/1997 360
600072500 READ,DAVID C 91884351 $828.12 1 09/01/1997 360
600072501 QUILL,ERIN C 91883815 $1,000.11 2 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072482 PARISH,DAVID E 2.00 2.75 12.63 2.750 2.500 2.335 $349,000.00 N
600072485 NORMINGTONIII,ERNEST Y 2.00 2.75 12.63 2.750 2.500 2.335 $262,000.00 N
600072486 SEGAL,EVAN J 2.00 2.75 12.63 2.750 2.500 2.335 $400,000.00 N
600072487 ARONSON,ROD B 2.00 2.75 12.63 2.750 2.500 2.335 $348,000.00 N
600072488 SAMSON,DAVID 2.00 2.75 12.63 2.750 2.500 2.335 $755,000.00 N
600072489 COX,WILLIAM A 2.00 2.75 12.63 2.750 2.500 2.335 $298,100.00 N
600072490 BUSE,J.B. 2.00 2.75 12.63 2.750 2.500 2.335 $757,000.00 N
600072492 LOVETT,WILLIAM B 2.00 2.75 12.63 2.750 2.500 2.335 $109,000.00 N
600072493 DORIAN,EDWARD S 2.00 2.75 12.63 2.750 2.500 2.335 $765,000.00 N
600072494 CONNER,PATRICK J 2.00 2.75 12.63 2.750 2.500 2.335 $295,000.00 N
600072495 DONNELLY,SUE E 2.00 2.75 12.63 2.750 2.500 2.335 $408,000.00 N
600072496 DOOLEY,FRANCIS M 2.00 2.75 12.63 2.750 2.500 2.335 $550,000.00 N
600072500 READ,DAVID C 2.00 2.75 12.63 2.750 2.500 2.335 $130,000.00 N
600072501 QUILL,ERIN C 2.00 2.75 12.63 2.750 2.500 2.335 $157,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 45
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072502 GEMBERLING,GEORGE 15 RIVER RIDGE SLEEPY HOL IL 60110 $265,513.69
600072503 BLIGHT,VIRGINIA M 960 PARROTT DRIVE HILLSBOROU CA 94010 $543,318.00
600072504 CARLSON,TIMOTHY D 2845 SPRING MEADOWS BOZEMAN MT 59715 $183,272.65
600072505 LILLARD,LINDA 11744 WILLS CREEK ROA SAN DIEGO CA 92131 $277,805.17
600072506 SCHRUDDER,MITCHELL R 6510 MIMOSA LANE DALLAS TX 75230 $454,411.50
600072507 THOMPSON,JEFFREY R 1121 LINDEN COURT WICHITA KS 67206 $268,911.97
600072508 MONTAGUE,LAWRENCE F 325 WOODHOUSE ROAD FAIRFIELD CT 6430 $328,230.73
600072509 REID,GILFORD M #13 DICKENS DRIVE MINERAL WE WV 26150 $54,287.71
600072510 MAUDLIN,SCOTT R 2320 CHELSEA ROAD PALOS VERD CA 90274 $347,441.71
600072511 WANG,MING-DAKE 1121 DANBURY DRIVE SAN JOSE CA 95129 $262,802.10
600072512 MITCHELL,ROSS I 3336 CORTE VERSO CARLSBAD CA 92009 $296,089.55
600072513 SCHLEGEL,ANDREAS 1234 WOODLAWN AVENUE SAN JOSE CA 95128 $195,594.55
600072514 LAY,DAVID K 5205 PALMERA DRIVE OCEANSIDE CA 92056 $223,961.58
600072517 PAGE,ROBERT A 2200 GREEN STREET SAN FRANCI CA 94123 $637,044.83
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072502 GEMBERLING,GEORGE 7.625 .250 7.375 .1650 7.210 06/01/2026
600072503 BLIGHT,VIRGINIA M 7.625 .250 7.375 .1650 7.210 05/01/2026
600072504 CARLSON,TIMOTHY D 7.625 .250 7.375 .1650 7.210 06/01/2026
600072505 LILLARD,LINDA 7.625 .250 7.375 .1650 7.210 04/01/2026
600072506 SCHRUDDER,MITCHELL R 7.625 .250 7.375 .1650 7.210 05/01/2026
600072507 THOMPSON,JEFFREY R 7.625 .250 7.375 .1650 7.210 06/01/2026
600072508 MONTAGUE,LAWRENCE F 7.625 .250 7.375 .1650 7.210 06/01/2026
600072509 REID,GILFORD M 7.625 .250 7.375 .1650 7.210 04/01/2026
600072510 MAUDLIN,SCOTT R 7.625 .250 7.375 .1650 7.210 04/01/2026
600072511 WANG,MING-DAKE 7.625 .250 7.375 .1650 7.210 04/01/2026
600072512 MITCHELL,ROSS I 7.625 .250 7.375 .1650 7.210 06/01/2026
600072513 SCHLEGEL,ANDREAS 7.625 .250 7.375 .1650 7.210 05/01/2026
600072514 LAY,DAVID K 7.625 .250 7.375 .1650 7.210 04/01/2026
600072517 PAGE,ROBERT A 7.625 .250 7.375 .1650 7.210 05/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072502 GEMBERLING,GEORGE 91879655 $1,911.04 09/01/1997 360
600072503 BLIGHT,VIRGINIA M 91879535 $3,892.87 09/01/1997 360
600072504 CARLSON,TIMOTHY D 91879435 $1,312.25 19 09/01/1997 360
600072505 LILLARD,LINDA 91878609 $1,992.09 19 09/01/1997 360
600072506 SCHRUDDER,MITCHELL R 91877555 $3,255.85 09/01/1997 360
600072507 THOMPSON,JEFFREY R 91877509 $1,925.20 09/01/1997 360
600072508 MONTAGUE,LAWRENCE F 91874715 $2,349.88 09/01/1997 360
600072509 REID,GILFORD M 91873813 $389.29 19 09/01/1997 360
600072510 MAUDLIN,SCOTT R 91873355 $2,491.43 09/01/1997 360
600072511 WANG,MING-DAKE 91873336 $1,884.50 09/01/1997 360
600072512 MITCHELL,ROSS I 91872483 $2,119.85 1 09/01/1997 360
600072513 SCHLEGEL,ANDREAS 91871348 $1,401.43 09/01/1997 360
600072514 LAY,DAVID K 91871259 $1,605.99 19 09/01/1997 360
600072517 PAGE,ROBERT A 91866447 $4,600.66 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072502 GEMBERLING,GEORGE 2.00 2.75 12.63 2.750 2.500 2.335 $410,000.00 N
600072503 BLIGHT,VIRGINIA M 2.00 2.75 12.63 2.750 2.500 2.335 $1,000,000.00 N
600072504 CARLSON,TIMOTHY D 2.00 2.75 12.63 2.750 2.500 2.335 $206,000.00 N
600072505 LILLARD,LINDA 2.00 2.75 12.63 2.750 2.500 2.335 $296,307.00 N
600072506 SCHRUDDER,MITCHELL R 2.00 2.75 12.63 2.750 2.500 2.335 $580,000.00 N
600072507 THOMPSON,JEFFREY R 2.00 2.75 12.63 2.750 2.500 2.335 $340,000.00 N
600072508 MONTAGUE,LAWRENCE F 2.00 2.75 12.63 2.750 2.500 2.335 $415,000.00 N
600072509 REID,GILFORD M 2.00 2.75 12.63 2.750 2.500 2.335 $61,000.00 N
600072510 MAUDLIN,SCOTT R 2.00 2.75 12.63 2.750 2.500 2.335 $440,000.00 N
600072511 WANG,MING-DAKE 2.00 2.75 12.63 2.750 2.500 2.335 $355,000.00 N
600072512 MITCHELL,ROSS I 2.00 2.75 12.63 2.750 2.500 2.335 $315,345.00 N
600072513 SCHLEGEL,ANDREAS 2.00 2.75 12.63 2.750 2.500 2.335 $248,000.00 N
600072514 LAY,DAVID K 2.00 2.75 12.63 2.750 2.500 2.335 $238,865.00 N
600072517 PAGE,ROBERT A 2.00 2.75 12.63 2.750 2.500 2.335 $960,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 46
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072518 DAVIS,MARK K 19922 NEWFOUNDLAND CI HUNTINGTON CA 92648 $327,557.83
600072519 PLONA,DALE E 12062 COOPERWOOD DRIV CINCINNATI OH 45242 $153,250.85
600072520 ANDERSON,JAMES H 532 INDIAN HOME ROA DANVILLE CA 94526 $317,538.75
600072521 VOLKMANN,DANIEL G 2616 UNION STREET SAN FRANCI CA 94123 $632,123.73
600072522 JOHNSON,WILLIAM J 716 WEST VELARDE D THOUSAND O CA 91360 $213,157.66
600072524 FISCHBECK,DONALD P 6 DENIA LAGUNA NIG CA 92677 $393,846.52
600072525 MICHAUD,STEPHEN F 505 N TIGERTRAIL ROAD LOS ANGELE CA 90049 $945,231.90
600072526 ROSENTHAL,LAURENCE T 13330 COMPSTON STREET SHERMAN OA CA 91410 $219,569.49
600072527 LANFERMAN,DAVID P 661 CUENCA WAY FREMONT CA 94536 $314,092.73
600072528 CUNNINGHAM,SUSAN 1142 JOHNSON AVE SAN JOSE CA 95129 $220,271.67
600072529 SINHA,ARVIND V 11716 KAREN DRIVE POTOMAC MD 20854 $222,766.07
600072530 HOWES,KATHLEEN E 1322 FAREN DRIVE SANTA ANA CA 92705 $366,318.72
600072531 SEGAL,HAROLD 4845 ANDASOL AVENUE LOS ANGELE CA 91436 $274,739.48
600072532 LI,QIN M 2620 MARSHALL DRIVE PALO ALTO CA 94303 $265,624.51
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072518 DAVIS,MARK K 7.625 .250 7.375 .1650 7.210 02/01/2026
600072519 PLONA,DALE E 7.625 .250 7.375 .1650 7.210 04/01/2026
600072520 ANDERSON,JAMES H 7.625 .250 7.375 .1650 7.210 01/01/2026
600072521 VOLKMANN,DANIEL G 7.625 .250 7.375 .1650 7.210 01/01/2026
600072522 JOHNSON,WILLIAM J 7.625 .250 7.375 .1650 7.210 01/01/2026
600072524 FISCHBECK,DONALD P 7.625 .250 7.375 .1650 7.210 01/01/2026
600072525 MICHAUD,STEPHEN F 7.625 .250 7.375 .1650 7.210 01/01/2026
600072526 ROSENTHAL,LAURENCE T 7.625 .250 7.375 .1650 7.210 01/01/2026
600072527 LANFERMAN,DAVID P 7.625 .250 7.375 .1650 7.210 01/01/2026
600072528 CUNNINGHAM,SUSAN 7.625 .250 7.375 .1650 7.210 12/01/2025
600072529 SINHA,ARVIND V 7.625 .250 7.375 .1650 7.210 01/01/2026
600072530 HOWES,KATHLEEN E 7.625 .250 7.375 .1650 7.210 12/01/2025
600072531 SEGAL,HAROLD 7.625 .250 7.375 .1650 7.210 11/01/2025
600072532 LI,QIN M 7.625 .250 7.375 .1650 7.210 12/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072518 DAVIS,MARK K 91861960 $2,352.71 09/01/1997 360
600072519 PLONA,DALE E 91860963 $1,132.47 09/01/1997 360
600072520 ANDERSON,JAMES H 91859332 $2,282.64 09/01/1997 360
600072521 VOLKMANN,DANIEL G 91858807 $4,544.04 09/01/1997 360
600072522 JOHNSON,WILLIAM J 91858692 $1,533.08 19 09/01/1997 360
600072524 FISCHBECK,DONALD P 91858122 $2,831.18 09/01/1997 360
600072525 MICHAUD,STEPHEN F 91857993 $6,794.82 09/01/1997 360
600072526 ROSENTHAL,LAURENCE T 91857106 $1,578.38 09/01/1997 360
600072527 LANFERMAN,DAVID P 91855726 $2,257.86 09/01/1997 360
600072528 CUNNINGHAM,SUSAN 91855420 $1,584.75 09/01/1997 360
600072529 SINHA,ARVIND V 91854818 $1,610.94 09/01/1997 360
600072530 HOWES,KATHLEEN E 91854119 $2,636.53 09/01/1997 360
600072531 SEGAL,HAROLD 91851642 $1,978.29 09/01/1997 360
600072532 LI,QIN M 91850972 $1,911.05 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072518 DAVIS,MARK K 2.00 2.75 12.63 2.750 2.500 2.335 $450,000.00 N
600072519 PLONA,DALE E 2.00 2.75 12.63 2.750 2.500 2.335 $287,000.00 N
600072520 ANDERSON,JAMES H 2.00 2.75 12.63 2.750 2.500 2.335 $430,000.00 N
600072521 VOLKMANN,DANIEL G 2.00 2.75 12.63 2.750 2.500 2.335 $1,700,000.00 N
600072522 JOHNSON,WILLIAM J 2.00 2.75 12.63 2.750 2.500 2.335 $228,000.00 N
600072524 FISCHBECK,DONALD P 2.00 2.75 12.63 2.750 2.500 2.335 $500,000.00 N
600072525 MICHAUD,STEPHEN F 2.00 2.75 12.63 2.750 2.500 2.335 $1,750,000.00 N
600072526 ROSENTHAL,LAURENCE T 2.00 2.75 12.63 2.750 2.500 2.335 $280,000.00 N
600072527 LANFERMAN,DAVID P 2.00 2.75 12.63 2.750 2.500 2.335 $435,000.00 N
600072528 CUNNINGHAM,SUSAN 2.00 2.75 12.63 2.750 2.500 2.335 $325,000.00 N
600072529 SINHA,ARVIND V 2.00 2.75 12.63 2.750 2.500 2.335 $285,000.00 N
600072530 HOWES,KATHLEEN E 2.00 2.75 12.63 2.750 2.500 2.335 $497,000.00 N
600072531 SEGAL,HAROLD 2.00 2.75 12.63 2.750 2.500 2.335 $656,000.00 N
600072532 LI,QIN M 2.00 2.75 12.63 2.750 2.500 2.335 $365,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 47
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072534 SANTOS,JESSIE 29029 SUNRISE COURT HAYWORD CA 94544 $216,596.90
600072535 KINGJR,JAMES O 2900 NEWBURG ROAD LOUISVILLE KY 40205 $222,085.29
600072536 LEFEVRE,CHARLES V 86 W 23RD STREET AVALON BOR NJ 8202 $204,629.40
600072537 MACBETH,KEITH C 17077 LOS ROBLES WAY LOS GATOS CA 95030 $363,790.55
600072538 CLINTON,PETER T 2 ELM ROAD PRINCETON NJ 8540 $631,513.74
600072539 MILLER,JAMES L 16 VIAGGIO LANE FOOTHILL R CA 92610 $224,565.21
600072540 SPRINGFIELD,LISA M 2531 OAKRIDGE PLACE DECATUR GA 30033 $81,090.37
600072541 HONG,HERMAN 1525 MURRE LANE SUNNYVALE CA 94087 $268,841.87
600072542 MCLENNON,DANIEL F 53 SPINDRIFT PASSA CORTE MADE CA 94925 $230,605.18
600072543 GLAVE,CHRIS 40 ASHFORD AVENUE MILL VALLE CA 94941 $209,817.64
600072544 MOORE,DONNA J 2136 ASH LANE NORTHBROOK IL 60062 $195,861.32
600072545 VOLK,MICHAEL J 18755 W BROOKFIELD LAKE BROOKFIELD WI 53045 $89,193.06
600072546 DAVIS,RAY K 15501 TAMARAC CIR WICHITA KS 67230 $216,234.80
600072547 SHAFFER,THOMAS E 15094 150TH N.W. ST. OAK HARBOR WA 98277 $48,789.03
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072534 SANTOS,JESSIE 7.625 .250 7.375 .1650 7.210 11/01/2025
600072535 KINGJR,JAMES O 7.625 .250 7.375 .1650 7.210 11/01/2025
600072536 LEFEVRE,CHARLES V 7.625 .250 7.375 .1650 7.210 12/01/2025
600072537 MACBETH,KEITH C 7.625 .250 7.375 .1650 7.210 12/01/2025
600072538 CLINTON,PETER T 7.625 .250 7.375 .1650 7.210 10/01/2025
600072539 MILLER,JAMES L 7.625 .250 7.375 .1650 7.210 10/01/2025
600072540 SPRINGFIELD,LISA M 7.625 .250 7.375 .1650 7.210 09/01/2025
600072541 HONG,HERMAN 7.625 .250 7.375 .1650 7.210 09/01/2025
600072542 MCLENNON,DANIEL F 7.625 .250 7.375 .1650 7.210 09/01/2025
600072543 GLAVE,CHRIS 7.625 .250 7.375 .1650 7.210 08/01/2025
600072544 MOORE,DONNA J 7.625 .250 7.375 .1650 7.210 08/01/2025
600072545 VOLK,MICHAEL J 7.625 .250 7.375 .1650 7.210 07/01/2025
600072546 DAVIS,RAY K 7.625 .250 7.375 .1650 7.210 07/01/2025
600072547 SHAFFER,THOMAS E 7.625 .250 7.375 .1650 7.210 07/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072534 SANTOS,JESSIE 91848006 $1,559.63 14 09/01/1997 360
600072535 KINGJR,JAMES O 91847649 $1,712.86 09/01/1997 360
600072536 LEFEVRE,CHARLES V 91847513 $1,472.21 09/01/1997 360
600072537 MACBETH,KEITH C 91843840 $2,654.23 09/01/1997 360
600072538 CLINTON,PETER T 91843330 $4,551.11 09/01/1997 360
600072539 MILLER,JAMES L 91837861 $1,618.38 19 09/01/1997 360
600072540 SPRINGFIELD,LISA M 91837100 $584.99 19 09/01/1997 360
600072541 HONG,HERMAN 91832240 $1,942.89 2 09/01/1997 360
600072542 MCLENNON,DANIEL F 91831577 $1,663.32 09/01/1997 360
600072543 GLAVE,CHRIS 91828905 $1,514.68 09/01/1997 360
600072544 MOORE,DONNA J 91827799 $1,415.59 09/01/1997 360
600072545 VOLK,MICHAEL J 91823217 $658.25 09/01/1997 360
600072546 DAVIS,RAY K 91822087 $1,562.45 19 09/01/1997 360
600072547 SHAFFER,THOMAS E 91821766 $673.82 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072534 SANTOS,JESSIE 2.00 2.75 12.63 2.750 2.500 2.335 $231,990.00 N
600072535 KINGJR,JAMES O 2.00 2.75 12.63 2.750 2.500 2.335 $325,000.00 N
600072536 LEFEVRE,CHARLES V 2.00 2.75 12.63 2.750 2.500 2.335 $260,000.00 N
600072537 MACBETH,KEITH C 2.00 2.75 12.63 2.750 2.500 2.335 $600,000.00 N
600072538 CLINTON,PETER T 2.00 2.75 12.75 2.750 2.500 2.335 $920,000.00 N
600072539 MILLER,JAMES L 2.00 2.75 12.75 2.750 2.500 2.335 $240,734.00 N
600072540 SPRINGFIELD,LISA M 2.00 2.75 12.75 2.750 2.500 2.335 $87,000.00 N
600072541 HONG,HERMAN 2.00 2.75 13.13 2.750 2.500 2.335 $310,000.00 N
600072542 MCLENNON,DANIEL F 2.00 2.75 13.13 2.750 2.500 2.335 $299,000.00 N
600072543 GLAVE,CHRIS 2.00 2.75 13.13 2.750 2.500 2.335 $320,000.00 N
600072544 MOORE,DONNA J 2.00 2.75 13.13 2.750 2.500 2.335 $270,000.00 N
600072545 VOLK,MICHAEL J 2.00 2.75 13.13 2.750 2.500 2.335 $116,250.00 N
600072546 DAVIS,RAY K 2.00 2.75 13.13 2.750 2.500 2.335 $232,411.00 N
600072547 SHAFFER,THOMAS E 2.00 2.75 13.13 2.750 2.500 2.335 $119,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 48
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072548 CHARTYNOWICZ,BRONISLAW 1241 N RACE ARLINGTON IL 60004 $95,676.66
600072549 GOLDSTEIN,SAMUEL J 5005F BAKER'S BAY PHILADELPH PA 19114 $49,274.32
600072550 PASINI,ROBIN J 12194 GLENCOE ST. THORNTON CO 80241 $118,482.63
600072551 BENDER,DAVID G 3680 CHARLEMAINE DRI AURORA IL 60504 $170,909.99
600072552 BEDORESR.,JOSEPH M 360 MAWMAN LAKE BLUFF IL 60044 $206,109.58
600072573 HARRIS,C.GUS 37 ELM SEA LANE PLANDOME NY 11030 $374,635.61
600072574 BURKE,JAMES R 3830 E WHITE BAY DR HIGHLANDS CO 80126 $313,355.72
600072576 BROWN,CARLOS V 11639 PETENWELL ROAD SAN DIEGO CA 92131 $250,228.69
600072577 SHOWALTER,WILLIAM E 2945 VALMERE DRIVE MALIBU CA 90265 $392,762.88
600072578 HARRISON,RICHARD A 6471 CRYSTAL SPRINGS SAN JOSE CA 95120 $337,139.83
600072579 WATRAS,MICHAEL E 58 ST. NICHOLAS RO DARIEN CT 6820 $594,602.85
600072580 WILSON,RONALD N 5502 KNOLLCREST CT. HERMITAGE TN 37076 $71,273.00
600072611 GORDON,BOYD C 2081 KAHALA CIRCLE CASTLE ROC CO 80104 $295,715.75
600072645 WUNSCH,ROBERT D 4408 LONG CHAMP DRIV AUSTIN TX 78746 $330,747.83
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072548 CHARTYNOWICZ,BRONISLAW 7.625 .250 7.375 .1650 7.210 07/01/2025
600072549 GOLDSTEIN,SAMUEL J 7.625 .250 7.375 .1650 7.210 07/01/2025
600072550 PASINI,ROBIN J 7.625 .250 7.375 .1650 7.210 08/01/2025
600072551 BENDER,DAVID G 7.625 .250 7.375 .1650 7.210 07/01/2025
600072552 BEDORESR.,JOSEPH M 7.625 .250 7.375 .1650 7.210 07/01/2025
600072573 HARRIS,C.GUS 7.625 .250 7.375 .1650 7.210 09/01/2026
600072574 BURKE,JAMES R 7.625 .250 7.375 .1650 7.210 09/01/2026
600072576 BROWN,CARLOS V 7.625 .250 7.375 .1650 7.210 09/01/2026
600072577 SHOWALTER,WILLIAM E 7.625 .250 7.375 .1650 7.210 09/01/2026
600072578 HARRISON,RICHARD A 7.625 .250 7.375 .1650 7.210 09/01/2026
600072579 WATRAS,MICHAEL E 7.625 .250 7.375 .1650 7.210 09/01/2026
600072580 WILSON,RONALD N 7.625 .250 7.375 .1650 7.210 09/01/2026
600072611 GORDON,BOYD C 7.625 .250 7.375 .1650 7.210 09/01/2026
600072645 WUNSCH,ROBERT D 7.625 .250 7.375 .1650 7.210 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072548 CHARTYNOWICZ,BRONISLAW 91818585 $707.79 09/01/1997 360
600072549 GOLDSTEIN,SAMUEL J 91817761 $356.02 09/01/1997 360
600072550 PASINI,ROBIN J 91817286 $856.78 19 09/01/1997 360
600072551 BENDER,DAVID G 91813108 $1,238.64 19 09/01/1997 360
600072552 BEDORESR.,JOSEPH M 91808920 $1,489.20 09/01/1997 360
600072573 HARRIS,C.GUS 91899415 $2,689.62 09/01/1997 360
600072574 BURKE,JAMES R 91899390 $2,238.04 09/01/1997 360
600072576 BROWN,CARLOS V 91899163 $1,787.18 19 09/01/1997 360
600072577 SHOWALTER,WILLIAM E 91899162 $2,824.10 09/01/1997 360
600072578 HARRISON,RICHARD A 91899005 $2,407.91 19 09/01/1997 360
600072579 WATRAS,MICHAEL E 91897169 $4,246.76 09/01/1997 360
600072580 WILSON,RONALD N 91894207 $509.61 09/01/1997 360
600072611 GORDON,BOYD C 92400577 $2,112.06 09/01/1997 360
600072645 WUNSCH,ROBERT D 91893658 $2,362.26 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072548 CHARTYNOWICZ,BRONISLAW 2.00 2.75 13.13 2.750 2.500 2.335 $125,000.00 N
600072549 GOLDSTEIN,SAMUEL J 2.00 2.75 13.13 2.750 2.500 2.335 $86,500.00 N
600072550 PASINI,ROBIN J 2.00 2.75 13.13 2.750 2.500 2.335 $137,000.00 N
600072551 BENDER,DAVID G 2.00 2.75 13.13 2.750 2.500 2.335 $201,000.00 N
600072552 BEDORESR.,JOSEPH M 2.00 2.75 13.13 2.750 2.500 2.335 $263,000.00 N
600072573 HARRIS,C.GUS 2.00 2.75 12.63 2.750 2.500 2.335 $475,000.00 N
600072574 BURKE,JAMES R 2.00 2.75 12.63 2.750 2.500 2.335 $395,277.00 N
600072576 BROWN,CARLOS V 2.00 2.75 12.63 2.750 2.500 2.335 $265,838.00 N
600072577 SHOWALTER,WILLIAM E 2.00 2.75 12.63 2.750 2.500 2.335 $500,000.00 N
600072578 HARRISON,RICHARD A 2.00 2.75 12.63 2.750 2.500 2.335 $378,000.00 N
600072579 WATRAS,MICHAEL E 2.00 2.75 12.63 2.750 2.500 2.335 $1,025,000.00 N
600072580 WILSON,RONALD N 2.00 2.75 12.63 2.750 2.500 2.335 $105,500.00 N
600072611 GORDON,BOYD C 2.00 2.75 12.63 2.750 2.500 2.335 $373,000.00 N
600072645 WUNSCH,ROBERT D 2.00 2.75 12.63 2.750 2.500 2.335 $445,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 49
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072646 TIMMINS,LARRY G 38 RIVER ROAD RUTLAND MA 1543 $208,110.95
600072647 LAWNICZAK,RANDEL J 76 BRYN MAWR CIRCL FOND DU LA WI 54935 $91,241.80
600072648 DIXSON,MICHAEL R 208 BLACKBERRY LANE MOORESVILL NC 28115 $82,683.64
600072649 BREWER,GARY E 19 DAWN DRIVE INDIANA PA 15701 $69,315.61
600072650 KNOLL,ALEXANDER P 1327 GEORGETOWN DRIV OLD HICKOR TN 37138 $100,122.95
600072662 VEITCH,TREVOR S 4150 VANTAGE AVENUE STUDIO CIT CA 91604 $285,645.18
600072742 PERSKY,ARNOLD I 38 TAUNTON LAKE RO NEWTOWN CT 6470 $210,139.35
600072744 ZIPPERER-DAVIS,PAMELA E 2356 STRATFORD AVENU CINCINNATI OH 45219 $71,204.26
600072745 CIPRIANI,PIER J 213 62ND STREET BOROUGH OF NJ 8202 $318,826.92
600072746 MUNERO,FRANCISCO 3202 WAKE DRIVE KENSINGTON MD 20895 $362,413.04
600072747 HARRINGTON,MARK A 1861 N OAK LANE STATE COLL PA 16803 $74,514.86
600072750 MARTIN,TIMOTHY A RR 1 COGAN STAT PA 17728 $218,564.68
600072751 HEEKIN,R. M 1222 GRACE AVENUE CINCINNATI OH 45208 $124,005.64
600072752 MCGOLDRICK,PHILIP J 2065 PESCARA COURT LAS VEGAS NV 89123 $116,131.57
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072646 TIMMINS,LARRY G 7.625 .250 7.375 .1650 7.210 09/01/2026
600072647 LAWNICZAK,RANDEL J 7.625 .250 7.375 .1650 7.210 08/01/2026
600072648 DIXSON,MICHAEL R 7.625 .250 7.375 .1650 7.210 08/01/2026
600072649 BREWER,GARY E 7.625 .250 7.375 .1650 7.210 08/01/2026
600072650 KNOLL,ALEXANDER P 7.625 .250 7.375 .1650 7.210 08/01/2026
600072662 VEITCH,TREVOR S 7.750 .250 7.500 .1650 7.335 01/01/2026
600072742 PERSKY,ARNOLD I 7.750 .250 7.500 .1650 7.335 09/01/2026
600072744 ZIPPERER-DAVIS,PAMELA E 7.750 .250 7.500 .1650 7.335 09/01/2026
600072745 CIPRIANI,PIER J 7.750 .250 7.500 .1650 7.335 09/01/2026
600072746 MUNERO,FRANCISCO 7.750 .250 7.500 .1650 7.335 09/01/2026
600072747 HARRINGTON,MARK A 7.750 .250 7.500 .1650 7.335 09/01/2026
600072750 MARTIN,TIMOTHY A 7.750 .250 7.500 .1650 7.335 09/01/2026
600072751 HEEKIN,R. M 7.750 .250 7.500 .1650 7.335 08/01/2026
600072752 MCGOLDRICK,PHILIP J 7.750 .250 7.500 .1650 7.335 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072646 TIMMINS,LARRY G 91890870 $1,486.37 09/01/1997 360
600072647 LAWNICZAK,RANDEL J 91873077 $665.33 09/01/1997 360
600072648 DIXSON,MICHAEL R 91872972 $591.01 09/01/1997 360
600072649 BREWER,GARY E 91863286 $495.46 09/01/1997 360
600072650 KNOLL,ALEXANDER P 91844309 $771.50 7 09/01/1997 360
600072662 VEITCH,TREVOR S 91854123 $2,077.60 09/01/1997 360
600072742 PERSKY,ARNOLD I 91899359 $1,518.79 09/01/1997 360
600072744 ZIPPERER-DAVIS,PAMELA E 91898611 $515.82 09/01/1997 360
600072745 CIPRIANI,PIER J 91898507 $2,304.34 09/01/1997 360
600072746 MUNERO,FRANCISCO 91898443 $2,636.40 09/01/1997 360
600072747 HARRINGTON,MARK A 91898286 $543.76 09/01/1997 360
600072750 MARTIN,TIMOTHY A 91895155 $1,579.69 19 09/01/1997 360
600072751 HEEKIN,R. M 91894682 $896.95 09/01/1997 360
600072752 MCGOLDRICK,PHILIP J 91894209 $839.99 1 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072646 TIMMINS,LARRY G 2.00 2.75 12.63 2.750 2.500 2.335 $265,000.00 N
600072647 LAWNICZAK,RANDEL J 2.00 2.75 12.63 2.750 2.500 2.335 $129,000.00 N
600072648 DIXSON,MICHAEL R 2.00 2.75 12.63 2.750 2.500 2.335 $117,500.00 N
600072649 BREWER,GARY E 2.00 2.75 12.63 2.750 2.500 2.335 $166,500.00 N
600072650 KNOLL,ALEXANDER P 2.00 2.75 12.63 2.750 2.500 2.335 $124,000.00 N
600072662 VEITCH,TREVOR S 2.00 2.75 12.75 2.750 2.500 2.335 $387,500.00 N
600072742 PERSKY,ARNOLD I 2.00 2.75 12.75 2.750 2.500 2.335 $275,000.00 N
600072744 ZIPPERER-DAVIS,PAMELA E 2.00 2.75 12.75 2.750 2.500 2.335 $90,000.00 N
600072745 CIPRIANI,PIER J 2.00 2.75 12.75 2.750 2.500 2.335 $459,500.00 N
600072746 MUNERO,FRANCISCO 2.00 2.75 12.75 2.750 2.500 2.335 $460,000.00 N
600072747 HARRINGTON,MARK A 2.00 2.75 12.75 2.750 2.500 2.335 $94,900.00 N
600072750 MARTIN,TIMOTHY A 2.00 2.75 12.75 2.750 2.500 2.335 $245,000.00 N
600072751 HEEKIN,R. M 2.00 2.75 12.75 2.750 2.500 2.335 $156,600.00 N
600072752 MCGOLDRICK,PHILIP J 2.00 2.75 12.75 2.750 2.500 2.335 $137,990.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 50
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072754 GRINER,WINSTON H 915 WYCKFIELD DR BRENTWOOD TN 37027 $382,711.21
600072755 LAZARUS,HOWARD S 7508 PINE KNOLL CIRC PROSPECT KY 40059 $491,268.55
600072756 MCKEON,JOHN B 5504 GLENSHIRE DRIVE PLANO TX 75093 $332,059.75
600072757 NAHMANI,YOSSEF 517 HOWE ROAD MERION PA 19066 $289,437.18
600072758 O'BRIEN,SEAN P 2410 BLAIR BLVD NASHVILLE TN 37212 $206,174.37
600072759 PARSA,KOUROSH 12 AMHERST ROAD RIVERSIDE CT 6878 $293,798.48
600072760 BROADBENT,GUY 19 TAMIE WAY PITTSFIELD MA 1201 $232,758.23
600072762 POLLOCK,RICHARD M 109 19TH. ST. AVALON NJ 8202 $217,548.58
600072763 SCHLEIFF,WILLIAM R 29 STATE PARK ROAD HULL MA 2045 $314,318.39
600072764 TREWYN,JEFFREY W 1847 W LARCHMONT CHICAGO IL 60613 $205,232.75
600072765 SOSA,FRED W 13430 COLUMBET AVENUE SAN MARTIN CA 95046 $217,562.53
600072766 LOVETT,WILLIAM B 6046 BUDMAR AVENUE CINCINNATI OH 45224 $96,115.02
600072767 WHITE,MATTHEW A 2713 N 41ST ST. MCALLEN TX 78501 $74,169.03
600072768 EAGAN,JAMES E 652 PONUS RIDGE ROA NEW CANAAN CT 6840 $445,014.48
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072754 GRINER,WINSTON H 7.750 .250 7.500 .1650 7.335 09/01/2026
600072755 LAZARUS,HOWARD S 7.750 .250 7.500 .1650 7.335 08/01/2026
600072756 MCKEON,JOHN B 7.750 .250 7.500 .1650 7.335 09/01/2026
600072757 NAHMANI,YOSSEF 7.750 .250 7.500 .1650 7.335 09/01/2026
600072758 O'BRIEN,SEAN P 7.750 .250 7.500 .1650 7.335 09/01/2026
600072759 PARSA,KOUROSH 7.750 .250 7.500 .1650 7.335 09/01/2026
600072760 BROADBENT,GUY 7.750 .250 7.500 .1650 7.335 08/01/2026
600072762 POLLOCK,RICHARD M 7.750 .250 7.500 .1650 7.335 08/01/2026
600072763 SCHLEIFF,WILLIAM R 7.750 .250 7.500 .1650 7.335 08/01/2026
600072764 TREWYN,JEFFREY W 7.750 .250 7.500 .1650 7.335 09/01/2026
600072765 SOSA,FRED W 7.750 .250 7.500 .1650 7.335 06/01/2026
600072766 LOVETT,WILLIAM B 7.750 .250 7.500 .1650 7.335 06/01/2026
600072767 WHITE,MATTHEW A 7.750 .250 7.500 .1650 7.335 06/01/2026
600072768 EAGAN,JAMES E 7.750 .250 7.500 .1650 7.335 06/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072754 GRINER,WINSTON H 91893624 $2,766.07 1 09/01/1997 360
600072755 LAZARUS,HOWARD S 91893371 $3,553.40 09/01/1997 360
600072756 MCKEON,JOHN B 91893131 $2,399.98 09/01/1997 360
600072757 NAHMANI,YOSSEF 91893092 $2,091.92 09/01/1997 360
600072758 O'BRIEN,SEAN P 91892494 $1,490.14 09/01/1997 360
600072759 PARSA,KOUROSH 91892333 $2,123.45 19 09/01/1997 360
600072760 BROADBENT,GUY 91892168 $1,683.57 09/01/1997 360
600072762 POLLOCK,RICHARD M 91890673 $1,579.69 19 09/01/1997 360
600072763 SCHLEIFF,WILLIAM R 91890492 $2,369.18 09/01/1997 360
600072764 TREWYN,JEFFREY W 91886458 $1,483.33 09/01/1997 360
600072765 SOSA,FRED W 91883148 $1,576.11 09/01/1997 360
600072766 LOVETT,WILLIAM B 91882802 $696.35 09/01/1997 360
600072767 WHITE,MATTHEW A 91882044 $537.31 1 09/01/1997 360
600072768 EAGAN,JAMES E 91881941 $3,223.85 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072754 GRINER,WINSTON H 2.00 2.75 12.75 2.750 2.500 2.335 $429,000.00 N
600072755 LAZARUS,HOWARD S 2.00 2.75 12.75 2.750 2.500 2.335 $620,000.00 N
600072756 MCKEON,JOHN B 2.00 2.75 12.75 2.750 2.500 2.335 $445,000.00 N
600072757 NAHMANI,YOSSEF 2.00 2.75 12.75 2.750 2.500 2.335 $365,000.00 N
600072758 O'BRIEN,SEAN P 2.00 2.75 12.75 2.750 2.500 2.335 $260,000.00 N
600072759 PARSA,KOUROSH 2.00 2.75 12.75 2.750 2.500 2.335 $312,000.00 N
600072760 BROADBENT,GUY 2.00 2.75 12.75 2.750 2.500 2.335 $295,000.00 N
600072762 POLLOCK,RICHARD M 2.00 2.75 12.75 2.750 2.500 2.335 $245,000.00 N
600072763 SCHLEIFF,WILLIAM R 2.00 2.75 12.75 2.750 2.500 2.335 $475,000.00 N
600072764 TREWYN,JEFFREY W 2.00 2.75 12.75 2.750 2.500 2.335 $300,000.00 N
600072765 SOSA,FRED W 2.00 2.75 12.75 2.750 2.500 2.335 $310,000.00 N
600072766 LOVETT,WILLIAM B 2.00 2.75 12.75 2.750 2.500 2.335 $121,500.00 N
600072767 WHITE,MATTHEW A 2.00 2.75 12.75 2.750 2.500 2.335 $83,350.00 N
600072768 EAGAN,JAMES E 2.00 2.75 12.75 2.750 2.500 2.335 $712,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 51
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072769 SHAMP,SHAWN P 506 N WALLACE KANSAS CIT MO 64125 $19,827.88
600072770 COLVILL,SCOTT E 3 RAINTREE DRIVE MELBOURNE KY 41059 $261,866.24
600072771 CURTISS,DAVID W 371 DAHLIA STREET DENVER CO 80220 $442,245.38
600072772 BRASGA,RAYMOND 31755 CORTE PADRERA TEMECULA CA 92592 $226,581.35
600072773 BARSTOW,FRANCES E 301-30 3 28TH ST HERMOSA BE CA 90254 $314,677.64
600072774 RAY,BRENT G 196 KENNER AVE NASHVILLE TN 37205 $135,112.52
600072775 STACK,MICHAEL J 5583 WESTERFIELD PKW ST.CHARLES MO 63304 $7,704.78
600072776 HENDERSON,CHARLES C 100 CHATEAU DRIVE HILLSBOROU CA 94010 $968,345.29
600072777 DORTA,ANTONIO 2435 RED BUD LANE AURORA IL 60504 $88,932.94
600072778 FORNEY,MICHAEL A 3844 HEPPNER LANE SAN JOSE CA 95136 $218,947.02
600072779 ALLYN,TIMOTHY J 620N MCCADDEN PLACE LOS ANGELE CA 90004 $395,257.23
600072780 COHEN,RANDY E 79680 BERMUDA DUNES D BERMUDA DU CA 92201 $236,759.26
600072781 STOLLMAN,LEON G 2841 FIRENZE PLACE LOS ANGELE CA 90046 $313,043.92
600072782 BAYLIS,DONALD W 1200 HERITAGE COURT LOS ALTOS CA 94024 $415,020.32
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072769 SHAMP,SHAWN P 7.750 .250 7.500 .1650 7.335 06/01/2026
600072770 COLVILL,SCOTT E 7.750 .250 7.500 .1650 7.335 06/01/2026
600072771 CURTISS,DAVID W 7.750 .250 7.500 .1650 7.335 06/01/2026
600072772 BRASGA,RAYMOND 7.750 .250 7.500 .1650 7.335 05/01/2026
600072773 BARSTOW,FRANCES E 7.750 .250 7.500 .1650 7.335 05/01/2026
600072774 RAY,BRENT G 7.750 .250 7.500 .1650 7.335 05/01/2026
600072775 STACK,MICHAEL J 7.750 .250 7.500 .1650 7.335 09/01/2026
600072776 HENDERSON,CHARLES C 7.750 .250 7.500 .1650 7.335 05/01/2026
600072777 DORTA,ANTONIO 7.750 .250 7.500 .1650 7.335 05/01/2026
600072778 FORNEY,MICHAEL A 7.750 .250 7.500 .1650 7.335 06/01/2026
600072779 ALLYN,TIMOTHY J 7.750 .250 7.500 .1650 7.335 05/01/2026
600072780 COHEN,RANDY E 7.750 .250 7.500 .1650 7.335 05/01/2026
600072781 STOLLMAN,LEON G 7.750 .250 7.500 .1650 7.335 05/01/2026
600072782 BAYLIS,DONALD W 7.750 .250 7.500 .1650 7.335 05/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072769 SHAMP,SHAWN P 91881867 $143.64 19 09/01/1997 360
600072770 COLVILL,SCOTT E 91881823 $1,897.06 09/01/1997 360
600072771 CURTISS,DAVID W 91881552 $3,203.80 09/01/1997 360
600072772 BRASGA,RAYMOND 91880973 $1,642.73 1 09/01/1997 360
600072773 BARSTOW,FRANCES E 91880498 $2,321.18 09/01/1997 360
600072774 RAY,BRENT G 91880319 $980.05 2 09/01/1997 360
600072775 STACK,MICHAEL J 91880146 $844.29 19 09/01/1997 360
600072776 HENDERSON,CHARLES C 91879131 $7,035.17 09/01/1997 360
600072777 DORTA,ANTONIO 91879033 $644.77 19 09/01/1997 360
600072778 FORNEY,MICHAEL A 91878794 $1,586.14 7 09/01/1997 360
600072779 ALLYN,TIMOTHY J 91878667 $2,865.65 19 09/01/1997 360
600072780 COHEN,RANDY E 91877930 $1,716.52 09/01/1997 360
600072781 STOLLMAN,LEON G 91877796 $2,269.59 09/01/1997 360
600072782 BAYLIS,DONALD W 91877795 $3,008.93 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072769 SHAMP,SHAWN P 2.00 2.75 12.75 2.750 2.500 2.335 $21,150.00 N
600072770 COLVILL,SCOTT E 2.00 2.75 12.75 2.750 2.500 2.335 $331,000.00 N
600072771 CURTISS,DAVID W 2.00 2.75 12.75 2.750 2.500 2.335 $559,000.00 N
600072772 BRASGA,RAYMOND 2.00 2.75 12.75 2.750 2.500 2.335 $241,400.00 N
600072773 BARSTOW,FRANCES E 2.00 2.75 12.75 2.750 2.500 2.335 $405,000.00 N
600072774 RAY,BRENT G 2.00 2.75 12.75 2.750 2.500 2.335 $152,000.00 N
600072775 STACK,MICHAEL J 2.00 2.75 12.75 2.750 2.500 2.335 $138,340.00 N
600072776 HENDERSON,CHARLES C 2.00 2.75 12.75 2.750 2.500 2.335 $1,500,000.00 N
600072777 DORTA,ANTONIO 2.00 2.75 12.75 2.750 2.500 2.335 $107,800.00 N
600072778 FORNEY,MICHAEL A 2.00 2.75 12.75 2.750 2.500 2.335 $246,000.00 N
600072779 ALLYN,TIMOTHY J 2.00 2.75 12.75 2.750 2.500 2.335 $450,000.00 N
600072780 COHEN,RANDY E 2.00 2.75 12.75 2.750 2.500 2.335 $355,000.00 N
600072781 STOLLMAN,LEON G 2.00 2.75 12.75 2.750 2.500 2.335 $396,000.00 N
600072782 BAYLIS,DONALD W 2.00 2.75 12.75 2.750 2.500 2.335 $625,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 52
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072783 KATZ,JED M 1755 FILBERT ST. #1W SAN FRANCI CA 94123 $315,415.38
600072784 ALEXAKOS,GEORGE 2 MACARTHUR DRIVE OLD GREENW CT 6870 $318,955.31
600072785 LIPARI JR,ANTHONY M 1608 18TH ST. CIRCLE BLUE SPRIN MO 64015 $69,565.38
600072786 JOHNSON,JERRY L 1075 GREEN VALLEY RO BRYN MAWR PA 19010 $469,737.39
600072787 CLARK,STEVEN L 836 WESTBROOKE MEAD BALLWIN MO 63021 $125,296.09
600072788 BREEN,WADE H 2642 BREEZY POINT O'FALLON MO 63366 $92,563.01
600072790 DAOU,DANIEL J 14226 BOUNTY WAY POWAY CA 92064 $355,844.97
600072791 ALTSCHULER,MICHAEL D 81 TANYA CIRCLE B OCEAN NJ 7712 $144,565.43
600072792 SUEOKA,GREG T 3240 SUN RIDGE COURT PARK CITY UT 84060 $385,375.93
600072794 HOTALING,SACHI 4829 SHANNAMARA DRIV MATTHEWS NC 28105 $213,928.27
600072795 WILSON,ROGER L 1042 STILLWATER COND BIG SKY MT 59716 $141,985.67
600072796 HAIGHT,VAUGHN 4951 BACOPA LANE S ST. PETERS FL 33715 $379,047.87
600072797 FRIEDER,SAMUEL 1756 OAK HILL DRIVE HUNTINGDON PA 19006 $227,272.98
600072798 SEGUINE,HOLLY E 1140 NOYES STREET EVANSTON IL 60201 $247,949.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072783 KATZ,JED M 7.750 .250 7.500 .1650 7.335 05/01/2026
600072784 ALEXAKOS,GEORGE 7.750 .250 7.500 .1650 7.335 06/01/2026
600072785 LIPARI JR,ANTHONY M 7.750 .250 7.500 .1650 7.335 05/01/2026
600072786 JOHNSON,JERRY L 7.750 .250 7.500 .1650 7.335 06/01/2026
600072787 CLARK,STEVEN L 7.750 .250 7.500 .1650 7.335 04/01/2026
600072788 BREEN,WADE H 7.750 .250 7.500 .1650 7.335 06/01/2026
600072790 DAOU,DANIEL J 7.750 .250 7.500 .1650 7.335 04/01/2026
600072791 ALTSCHULER,MICHAEL D 7.750 .250 7.500 .1650 7.335 05/01/2026
600072792 SUEOKA,GREG T 7.750 .250 7.500 .1650 7.335 05/01/2026
600072794 HOTALING,SACHI 7.750 .250 7.500 .1650 7.335 09/01/2026
600072795 WILSON,ROGER L 7.750 .250 7.500 .1650 7.335 04/01/2026
600072796 HAIGHT,VAUGHN 7.750 .250 7.500 .1650 7.335 04/01/2026
600072797 FRIEDER,SAMUEL 7.750 .250 7.500 .1650 7.335 05/01/2026
600072798 SEGUINE,HOLLY E 7.750 .250 7.500 .1650 7.335 05/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072783 KATZ,JED M 91877548 $2,286.79 09/01/1997 360
600072784 ALEXAKOS,GEORGE 91876830 $2,314.01 19 09/01/1997 360
600072785 LIPARI JR,ANTHONY M 91874837 $504.35 09/01/1997 360
600072786 JOHNSON,JERRY L 91874835 $3,402.96 09/01/1997 360
600072787 CLARK,STEVEN L 91874748 $909.13 19 09/01/1997 360
600072788 BREEN,WADE H 91874489 $670.56 19 09/01/1997 360
600072790 DAOU,DANIEL J 91873090 $2,581.95 09/01/1997 360
600072791 ALTSCHULER,MICHAEL D 91872429 $1,048.11 09/01/1997 360
600072792 SUEOKA,GREG T 91871367 $2,794.01 09/01/1997 360
600072794 HOTALING,SACHI 91870487 $1,549.96 7 09/01/1997 360
600072795 WILSON,ROGER L 91870309 $1,031.63 19 09/01/1997 360
600072796 HAIGHT,VAUGHN 91868967 $2,750.31 09/01/1997 360
600072797 FRIEDER,SAMUEL 91868583 $1,647.75 09/01/1997 360
600072798 SEGUINE,HOLLY E 91868020 $1,808.58 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072783 KATZ,JED M 2.00 2.75 12.75 2.750 2.500 2.335 $399,000.00 N
600072784 ALEXAKOS,GEORGE 2.00 2.75 12.75 2.750 2.500 2.335 $340,000.00 N
600072785 LIPARI JR,ANTHONY M 2.00 2.75 12.75 2.750 2.500 2.335 $88,000.00 N
600072786 JOHNSON,JERRY L 2.00 2.75 12.75 2.750 2.500 2.335 $975,000.00 N
600072787 CLARK,STEVEN L 2.00 2.75 12.75 2.750 2.500 2.335 $141,000.00 N
600072788 BREEN,WADE H 2.00 2.75 12.75 2.750 2.500 2.335 $104,000.00 N
600072790 DAOU,DANIEL J 2.00 2.75 12.75 2.750 2.500 2.335 $525,000.00 N
600072791 ALTSCHULER,MICHAEL D 2.00 2.75 12.75 2.750 2.500 2.335 $185,000.00 N
600072792 SUEOKA,GREG T 2.00 2.75 12.75 2.750 2.500 2.335 $650,000.00 N
600072794 HOTALING,SACHI 2.00 2.75 12.75 2.750 2.500 2.335 $227,742.30 N
600072795 WILSON,ROGER L 2.00 2.75 12.75 2.750 2.500 2.335 $160,000.00 N
600072796 HAIGHT,VAUGHN 2.00 2.75 12.75 2.750 2.500 2.335 $479,900.00 N
600072797 FRIEDER,SAMUEL 2.00 2.75 12.75 2.750 2.500 2.335 $350,000.00 N
600072798 SEGUINE,HOLLY E 2.00 2.75 12.75 2.750 2.500 2.335 $280,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 53
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072799 MISRACH,IVAN S 15 WEEBETOOK LANE CINCINNATI OH 45208 $903,477.23
600072800 EVANS,JENNIFER A 110 HILLSIDE ROAD STRAFFORD PA 19087 $216,304.57
600072801 BOLOGA,MICHAEL 76 RIVERSIDE AVE RIVERSIDE CT 6878 $264,684.91
600072802 BESTENII,R. B 11906 RIDGE ROAD LOUISVILLE KY 40223 $412,031.68
600072803 FELLIN,FREDERICK M 6605 PLEASURE AVENUE SEA ISLE C NJ 8243 $227,093.03
600072804 WURMAN,ZEEV 3355 STOCKTON PLACE PALO ALTO CA 94303 $336,151.32
600072805 HALL,CATHERINE 1902 SUVA CIRCLE COSTA MESA CA 92626 $298,691.68
600072806 DEMPSEY,BILLY D 161 DANIEL DRIVE ALAMO CA 94507 $343,759.28
600072807 BROOKS,JAMES 3521 SAN PASQUAL PASADENA CA 91107 $482,641.99
600072808 KIM,CHIN H 345 PORT ROYALE AVE FOSTER CIT CA 94404 $295,495.02
600072809 WALTERS,JAMIE 14313 GREEN LEAF STRE SHERMAN OA CA 91423 $334,894.45
600072811 TANTECK,JAMES H 426 OAK LANE SAN GABRIE CA 91775 $267,915.38
600072813 WONG,SUSANNA K 5360 MILL STONE COUR TAYLOR MIL KY 41015 $55,060.69
600072814 SAVAGE,HAL R 31 MERRILL CIRCLE MORAGA CA 94556 $634,086.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072799 MISRACH,IVAN S 7.750 .250 7.500 .1650 7.335 04/01/2026
600072800 EVANS,JENNIFER A 7.750 .250 7.500 .1650 7.335 05/01/2026
600072801 BOLOGA,MICHAEL 7.750 .250 7.500 .1650 7.335 05/01/2026
600072802 BESTENII,R. B 7.750 .250 7.500 .1650 7.335 08/01/2026
600072803 FELLIN,FREDERICK M 7.750 .250 7.500 .1650 7.335 04/01/2026
600072804 WURMAN,ZEEV 7.750 .250 7.500 .1650 7.335 02/01/2026
600072805 HALL,CATHERINE 7.750 .250 7.500 .1650 7.335 02/01/2026
600072806 DEMPSEY,BILLY D 7.750 .250 7.500 .1650 7.335 01/01/2026
600072807 BROOKS,JAMES 7.750 .250 7.500 .1650 7.335 01/01/2026
600072808 KIM,CHIN H 7.750 .250 7.500 .1650 7.335 01/01/2026
600072809 WALTERS,JAMIE 7.750 .250 7.500 .1650 7.335 01/01/2026
600072811 TANTECK,JAMES H 7.750 .250 7.500 .1650 7.335 01/01/2026
600072813 WONG,SUSANNA K 7.750 .250 7.500 .1650 7.335 01/01/2026
600072814 SAVAGE,HAL R 7.750 .250 7.500 .1650 7.335 12/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072799 MISRACH,IVAN S 91866526 $6,572.37 09/01/1997 360
600072800 EVANS,JENNIFER A 91865950 $1,568.23 1 09/01/1997 360
600072801 BOLOGA,MICHAEL 91865270 $1,976.26 09/01/1997 360
600072802 BESTENII,R. B 91862839 $2,980.27 09/01/1997 360
600072803 FELLIN,FREDERICK M 91862749 $1,647.75 09/01/1997 360
600072804 WURMAN,ZEEV 91861888 $2,442.97 09/01/1997 360
600072805 HALL,CATHERINE 91859680 $2,170.73 09/01/1997 360
600072806 DEMPSEY,BILLY D 91859116 $2,500.28 09/01/1997 360
600072807 BROOKS,JAMES 91858718 $3,510.42 09/01/1997 360
600072808 KIM,CHIN H 91857055 $2,149.24 09/01/1997 360
600072809 WALTERS,JAMIE 91857054 $2,435.80 09/01/1997 360
600072811 TANTECK,JAMES H 91856410 $1,948.65 09/01/1997 360
600072813 WONG,SUSANNA K 91851022 $400.47 09/01/1997 360
600072814 SAVAGE,HAL R 91850384 $4,656.68 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072799 MISRACH,IVAN S 2.00 2.75 12.75 2.750 2.500 2.335 $1,300,000.00 N
600072800 EVANS,JENNIFER A 2.00 2.75 12.75 2.750 2.500 2.335 $243,250.00 N
600072801 BOLOGA,MICHAEL 2.00 2.75 12.75 2.750 2.500 2.335 $470,000.00 N
600072802 BESTENII,R. B 2.00 2.75 12.75 2.750 2.500 2.335 $520,000.00 N
600072803 FELLIN,FREDERICK M 2.00 2.75 12.75 2.750 2.500 2.335 $288,500.00 N
600072804 WURMAN,ZEEV 2.00 2.75 12.75 2.750 2.500 2.335 $505,000.00 N
600072805 HALL,CATHERINE 2.00 2.75 12.75 2.750 2.500 2.335 $405,000.00 N
600072806 DEMPSEY,BILLY D 2.00 2.75 12.75 2.750 2.500 2.335 $515,000.00 N
600072807 BROOKS,JAMES 2.00 2.75 12.75 2.750 2.500 2.335 $660,000.00 N
600072808 KIM,CHIN H 2.00 2.75 12.75 2.750 2.500 2.335 $390,000.00 N
600072809 WALTERS,JAMIE 2.00 2.75 12.75 2.750 2.500 2.335 $425,000.00 N
600072811 TANTECK,JAMES H 2.00 2.75 12.75 2.750 2.500 2.335 $390,000.00 N
600072813 WONG,SUSANNA K 2.00 2.75 12.75 2.750 2.500 2.335 $69,900.00 N
600072814 SAVAGE,HAL R 2.00 2.75 12.75 2.750 2.500 2.335 $900,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 54
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072815 BAIRD,WILLIAM V E4838 E REDSTONE LAVALLE WI 53941 $84,216.17
600072816 BROADHURST,JAMES S 1336 BENNINGTON AVEN PITTSBURGH PA 15217 $589,524.32
600072818 NOVIKOFF,TIMOTHY A 2 VIA TIGRA RANCHO SAN CA 92688 $217,522.20
600072820 LUTTER,FRANK 1169 AVALON AVENUE AVALON BOR NJ 8202 $221,258.84
600072821 LEHMER,RICHARD C 9150 FOX HOLLOW CLARKSTON MI 48348 $257,151.96
600072823 NICKEL,LINDA M 1457W ROSEMONT #2 CHICAGO IL 60660 $83,072.05
600072824 BUCKLEY,RONALD F 104 SETTLERS ROW NO PONTE VEDR FL 32082 $342,186.02
600072825 MOLZAHN,SCOTT J 138 BUCKHORN TRAIL BOZEMAN MT 59715 $87,392.95
600072826 MOGHADAM,MOHAMAD 2196 WELLINGTON DRIV MILPITAS CA 95035 $297,953.81
600072827 BENJAMIN,JONATHAN S 1840 EDDY STREET SAN FRANCI CA 94115 $333,330.54
600072828 RODRIQUE,PATRICIA S 5550 BLACK BEAR ROAD BOZEMAN MT 59715 $197,153.68
600072829 HALBACH,RONALD E 4 JESSICA DRIVE WESTFORD MA 1886 $232,581.80
600072830 MALEK,MAHER L 1586 SHANGHAI CIRCLE SAN JOSE CA 95131 $244,929.36
600072831 MACDONALD,CHARLES D 309 RAVINSWOOD ROAD PEORIA IL 61615 $251,580.76
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072815 BAIRD,WILLIAM V 7.750 .250 7.500 .1650 7.335 01/01/2026
600072816 BROADHURST,JAMES S 7.750 .250 7.500 .1650 7.335 12/01/2025
600072818 NOVIKOFF,TIMOTHY A 7.750 .250 7.500 .1650 7.335 11/01/2025
600072820 LUTTER,FRANK 7.750 .250 7.500 .1650 7.335 11/01/2025
600072821 LEHMER,RICHARD C 7.750 .250 7.500 .1650 7.335 11/01/2025
600072823 NICKEL,LINDA M 7.750 .250 7.500 .1650 7.335 10/01/2025
600072824 BUCKLEY,RONALD F 7.750 .250 7.500 .1650 7.335 09/01/2025
600072825 MOLZAHN,SCOTT J 7.750 .250 7.500 .1650 7.335 09/01/2025
600072826 MOGHADAM,MOHAMAD 7.750 .250 7.500 .1650 7.335 08/01/2025
600072827 BENJAMIN,JONATHAN S 7.750 .250 7.500 .1650 7.335 08/01/2025
600072828 RODRIQUE,PATRICIA S 7.750 .250 7.500 .1650 7.335 09/01/2025
600072829 HALBACH,RONALD E 7.750 .250 7.500 .1650 7.335 08/01/2025
600072830 MALEK,MAHER L 7.750 .250 7.500 .1650 7.335 07/01/2025
600072831 MACDONALD,CHARLES D 7.750 .250 7.500 .1650 7.335 07/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072815 BAIRD,WILLIAM V 91850289 $612.53 19 09/01/1997 360
600072816 BROADHURST,JAMES S 91848219 $4,291.31 09/01/1997 360
600072818 NOVIKOFF,TIMOTHY A 91847604 $1,584.70 1 09/01/1997 360
600072820 LUTTER,FRANK 91846364 $1,611.93 09/01/1997 360
600072821 LEHMER,RICHARD C 91846267 $1,873.42 09/01/1997 360
600072823 NICKEL,LINDA M 91841457 $605.73 09/01/1997 360
600072824 BUCKLEY,RONALD F 91837068 $2,497.05 09/01/1997 360
600072825 MOLZAHN,SCOTT J 91835275 $644.77 09/01/1997 360
600072826 MOGHADAM,MOHAMAD 91834160 $2,176.10 09/01/1997 360
600072827 BENJAMIN,JONATHAN S 91833236 $2,507.44 09/01/1997 360
600072828 RODRIQUE,PATRICIA S 91832961 $1,455.39 09/01/1997 360
600072829 HALBACH,RONALD E 91830452 $1,701.48 09/01/1997 360
600072830 MALEK,MAHER L 91827269 $1,791.03 19 09/01/1997 360
600072831 MACDONALD,CHARLES D 91825297 $1,948.65 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072815 BAIRD,WILLIAM V 2.00 2.75 12.75 2.750 2.500 2.335 $95,000.00 N
600072816 BROADHURST,JAMES S 2.00 2.75 12.75 2.750 2.500 2.335 $790,000.00 N
600072818 NOVIKOFF,TIMOTHY A 2.00 2.75 12.75 2.750 2.500 2.335 $232,878.00 N
600072820 LUTTER,FRANK 2.00 2.75 12.75 2.750 2.500 2.335 $325,000.00 N
600072821 LEHMER,RICHARD C 2.00 2.75 12.75 2.750 2.500 2.335 $493,000.00 N
600072823 NICKEL,LINDA M 2.00 2.75 12.75 2.750 2.500 2.335 $105,725.00 N
600072824 BUCKLEY,RONALD F 2.00 2.75 12.75 2.750 2.500 2.335 $436,000.00 N
600072825 MOLZAHN,SCOTT J 2.00 2.75 12.75 2.750 2.500 2.335 $139,000.00 N
600072826 MOGHADAM,MOHAMAD 2.00 2.75 13.13 2.750 2.500 2.335 $405,000.00 N
600072827 BENJAMIN,JONATHAN S 2.00 2.75 13.13 2.750 2.500 2.335 $490,000.00 N
600072828 RODRIQUE,PATRICIA S 2.00 2.75 12.75 2.750 2.500 2.335 $523,000.00 N
600072829 HALBACH,RONALD E 2.00 2.75 13.13 2.750 2.500 2.335 $302,500.00 N
600072830 MALEK,MAHER L 2.00 2.75 13.13 2.750 2.500 2.335 $263,300.00 N
600072831 MACDONALD,CHARLES D 2.00 2.75 13.13 2.750 2.500 2.335 $340,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 55
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072832 BUFORD,CALVIN D 4153 ROSE HILL AVE. CINCINNATI OH 45229 $235,161.90
600072833 CARROLLJR.,CHARLES T 269 101ST STREET STONE HARB NJ 8247 $156,814.16
600072834 JORGENSEN,OTTO 41 PERRINE RD PLAINSBORO NJ 8536 $155,136.62
600072835 JAMES,JESSE C 127 LAKESIDE DRIVE MALAKOFF TX 75418 $254,822.81
600072836 JOHNSON,SONJA R 1938 W POTOMAC CHICAGO IL 60614 $227,177.57
600072837 BRON,DIDIER R 9 COMMANCHE TRAIL DENVILLE NJ 7834 $188,176.78
600072838 SAPPENFIELD,ERIC L 3 BUTTONWOOD LANE CHATHAM TW NJ 7928 $449,860.72
600072839 HEBERT,ROY L 1450 W WINONA CHICAGO IL 60640 $145,860.29
600072840 LASKEY-MUHR,PAMELA J 2 STONEYBROOK ROA GRAFTON MA 1536 $195,184.78
600072841 ARNOLD,ELAINE E 397 COUNTRY WAY SCITUATE MA 2066 $118,384.33
600072842 BLIEMEISTER,MATTHEW E 27579 ROLLING PINES C LAWTON MI 49065 $140,414.47
600072843 KINTZ,BRANT E 84 ALLENBERRY DRIV WILKES-BAR PA 18706 $69,907.67
600072869 TRACY,STEPHEN B 134 CLORINDA AVENUE SAN RAFAEL CA 94901 $408,383.92
600072870 ALBRIGHT,BRUCE W 1746 TEAL CIRCLE TUSCALOOSA AL 35405 $220,033.64
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072832 BUFORD,CALVIN D 7.750 .250 7.500 .1650 7.335 07/01/2025
600072833 CARROLLJR.,CHARLES T 7.750 .250 7.500 .1650 7.335 07/01/2025
600072834 JORGENSEN,OTTO 7.750 .250 7.500 .1650 7.335 07/01/2025
600072835 JAMES,JESSE C 7.750 .250 7.500 .1650 7.335 07/01/2025
600072836 JOHNSON,SONJA R 7.750 .250 7.500 .1650 7.335 07/01/2025
600072837 BRON,DIDIER R 7.750 .250 7.500 .1650 7.335 07/01/2025
600072838 SAPPENFIELD,ERIC L 7.750 .250 7.500 .1650 7.335 07/01/2025
600072839 HEBERT,ROY L 7.750 .250 7.500 .1650 7.335 07/01/2025
600072840 LASKEY-MUHR,PAMELA J 7.750 .250 7.500 .1650 7.335 07/01/2025
600072841 ARNOLD,ELAINE E 7.750 .250 7.500 .1650 7.335 07/01/2025
600072842 BLIEMEISTER,MATTHEW E 7.750 .250 7.500 .1650 7.335 07/01/2025
600072843 KINTZ,BRANT E 7.750 .250 7.500 .1650 7.335 08/01/2025
600072869 TRACY,STEPHEN B 7.750 .250 7.500 .1650 7.335 09/01/2026
600072870 ALBRIGHT,BRUCE W 7.750 .250 7.500 .1650 7.335 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072832 BUFORD,CALVIN D 91821402 $1,719.39 09/01/1997 360
600072833 CARROLLJR.,CHARLES T 91821353 $1,146.26 09/01/1997 360
600072834 JORGENSEN,OTTO 91821140 $1,174.92 09/01/1997 360
600072835 JAMES,JESSE C 91820334 $1,862.68 09/01/1997 360
600072836 JOHNSON,SONJA R 91820319 $1,662.08 09/01/1997 360
600072837 BRON,DIDIER R 91819412 $1,375.52 09/01/1997 360
600072838 SAPPENFIELD,ERIC L 91819191 $3,288.33 19 09/01/1997 360
600072839 HEBERT,ROY L 91818409 $1,086.08 09/01/1997 360
600072840 LASKEY-MUHR,PAMELA J 91818176 $1,426.73 19 09/01/1997 360
600072841 ARNOLD,ELAINE E 91818127 $865.43 09/01/1997 360
600072842 BLIEMEISTER,MATTHEW E 91813857 $1,038.80 09/01/1997 360
600072843 KINTZ,BRANT E 91809309 $515.82 19 09/01/1997 360
600072869 TRACY,STEPHEN B 91897436 $2,951.62 09/01/1997 360
600072870 ALBRIGHT,BRUCE W 91897314 $1,590.31 14 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072832 BUFORD,CALVIN D 2.00 2.75 13.13 2.750 2.500 2.335 $300,000.00 N
600072833 CARROLLJR.,CHARLES T 2.00 2.75 13.13 2.750 2.500 2.335 $226,250.00 N
600072834 JORGENSEN,OTTO 2.00 2.75 13.13 2.750 2.500 2.335 $205,000.00 N
600072835 JAMES,JESSE C 2.00 2.75 13.13 2.750 2.500 2.335 $325,000.00 N
600072836 JOHNSON,SONJA R 2.00 2.75 13.13 2.750 2.500 2.335 $290,000.00 N
600072837 BRON,DIDIER R 2.00 2.75 13.13 2.750 2.500 2.335 $240,000.00 N
600072838 SAPPENFIELD,ERIC L 2.00 2.75 13.13 2.750 2.500 2.335 $510,000.00 N
600072839 HEBERT,ROY L 2.00 2.75 13.13 2.750 2.500 2.335 $189,500.00 N
600072840 LASKEY-MUHR,PAMELA J 2.00 2.75 13.13 2.750 2.500 2.335 $221,300.00 N
600072841 ARNOLD,ELAINE E 2.00 2.75 13.13 2.750 2.500 2.335 $151,000.00 N
600072842 BLIEMEISTER,MATTHEW E 2.00 2.75 13.13 2.750 2.500 2.335 $207,500.00 N
600072843 KINTZ,BRANT E 2.00 2.75 13.13 2.750 2.500 2.335 $80,200.00 N
600072869 TRACY,STEPHEN B 2.00 2.75 12.75 2.750 2.500 2.335 $515,000.00 N
600072870 ALBRIGHT,BRUCE W 2.00 2.75 12.75 2.750 2.500 2.335 $246,647.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 56
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072871 MELLANDER,KEVIN A 776 ALDER STREET GILROY CA 95020 $213,955.46
600072894 CARLOS,OCTAVIA M 1108 MERGANSER COURT UPPER MARL MD 20772 $241,065.51
600072922 AUSMUS,BRADLEY D 2172-7 6 OXFORD AVENUE CARDIFF CA 92007 $285,472.23
600072924 REEVES,ELIZABETH L 21032 N PRESTWICK DR. BARRINGTON IL 60010 $594,733.90
600072926 GOMEZ,FELIPE 2875 SNEAD COURT MELBOURNE FL 32935 $90,111.64
600072927 PALMER,GEORGE O #45 WYNDEN OAKS DR. HOUSTON TX 77056 $336,022.11
600072929 SAMSONJR.,JAMES M 982 FORISTELL ROAD WENTZVILLE MO 63385 $108,752.56
600072930 LESNIAK,THOMAS M 27 LA SORDINA RANCHO SAN CA 92688 $224,604.92
600072931 DOOLEY,THEODORE T 291 OAKWOOD CIRCLE MARTINEZ CA 94553 $253,458.76
600072932 LOFLAND,JERRY C 245 CORNWELL DRIVE BEAR DE 19701 $199,973.97
600072933 RENDELL,GEORGE H 7614 PLEASURE AVENUE SEA ISLE C NJ 8243 $118,855.34
600072949 FARSHI,JOHN 5111 OTIS AVENUE TARZANA CA 91356 $475,889.66
600072950 HEMPHILL,BEVERLY E 37 BRISTLECONE IRVINE CA 92620 $273,350.88
600072951 FLETCHER,WALTER J 811 HOT SPRINGS ROA SANTA BARB CA 93108 $892,293.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072871 MELLANDER,KEVIN A 7.750 .250 7.500 .1650 7.335 09/01/2026
600072894 CARLOS,OCTAVIA M 7.750 .250 7.500 .1650 7.335 09/01/2026
600072922 AUSMUS,BRADLEY D 7.750 .250 7.500 .1650 7.335 09/01/2026
600072924 REEVES,ELIZABETH L 7.750 .250 7.500 .1650 7.335 09/01/2026
600072926 GOMEZ,FELIPE 7.750 .250 7.500 .1650 7.335 07/01/2026
600072927 PALMER,GEORGE O 7.750 .250 7.500 .1650 7.335 08/01/2026
600072929 SAMSONJR.,JAMES M 7.750 .250 7.500 .1650 7.335 08/01/2026
600072930 LESNIAK,THOMAS M 7.750 .250 7.500 .1650 7.335 05/01/2026
600072931 DOOLEY,THEODORE T 7.750 .250 7.500 .1650 7.335 05/01/2026
600072932 LOFLAND,JERRY C 7.750 .250 7.500 .1650 7.335 08/01/2026
600072933 RENDELL,GEORGE H 7.750 .250 7.500 .1650 7.335 08/01/2026
600072949 FARSHI,JOHN 7.875 .250 7.625 .1650 7.460 09/01/2026
600072950 HEMPHILL,BEVERLY E 7.875 .250 7.625 .1650 7.460 09/01/2026
600072951 FLETCHER,WALTER J 7.875 .250 7.625 .1650 7.460 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072871 MELLANDER,KEVIN A 91895901 $1,546.38 19 09/01/1997 360
600072894 CARLOS,OCTAVIA M 92400569 $1,742.31 2 09/01/1997 360
600072922 AUSMUS,BRADLEY D 91895069 $2,063.27 09/01/1997 360
600072924 REEVES,ELIZABETH L 91894125 $4,298.47 09/01/1997 360
600072926 GOMEZ,FELIPE 91888441 $652.29 2 09/01/1997 360
600072927 PALMER,GEORGE O 91882710 $2,629.95 09/01/1997 360
600072929 SAMSONJR.,JAMES M 91880463 $786.62 1 09/01/1997 360
600072930 LESNIAK,THOMAS M 91880087 $1,628.41 1 09/01/1997 360
600072931 DOOLEY,THEODORE T 91876896 $1,837.60 2 09/01/1997 360
600072932 LOFLAND,JERRY C 91861301 $1,446.44 2 09/01/1997 360
600072933 RENDELL,GEORGE H 91854808 $859.69 09/01/1997 360
600072949 FARSHI,JOHN 91898813 $3,480.34 09/01/1997 360
600072950 HEMPHILL,BEVERLY E 91898593 $2,002.28 19 09/01/1997 360
600072951 FLETCHER,WALTER J 91898427 $6,525.63 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072871 MELLANDER,KEVIN A 2.00 2.75 12.75 2.750 2.500 2.335 $227,247.00 N
600072894 CARLOS,OCTAVIA M 2.00 2.75 12.38 2.750 2.500 2.335 $256,020.00 N
600072922 AUSMUS,BRADLEY D 2.00 2.75 12.75 2.750 2.500 2.335 $360,000.00 N
600072924 REEVES,ELIZABETH L 2.00 2.75 12.75 2.750 2.500 2.335 $750,000.00 N
600072926 GOMEZ,FELIPE 2.00 2.75 12.75 2.750 2.500 2.335 $101,200.00 N
600072927 PALMER,GEORGE O 2.00 2.75 12.75 2.750 2.500 2.335 $489,500.00 N
600072929 SAMSONJR.,JAMES M 2.00 2.75 12.75 2.750 2.500 2.335 $122,000.00 N
600072930 LESNIAK,THOMAS M 2.00 2.75 12.75 2.750 2.500 2.335 $239,299.00 N
600072931 DOOLEY,THEODORE T 2.00 2.75 12.75 2.750 2.500 2.335 $270,250.00 N
600072932 LOFLAND,JERRY C 2.00 2.75 12.75 2.750 2.500 2.335 $224,365.00 N
600072933 RENDELL,GEORGE H 2.00 2.75 12.75 2.750 2.500 2.335 $230,000.00 N
600072949 FARSHI,JOHN 2.00 2.75 12.88 2.750 2.500 2.335 $640,000.00 N
600072950 HEMPHILL,BEVERLY E 2.00 2.75 12.88 2.750 2.500 2.335 $306,839.00 N
600072951 FLETCHER,WALTER J 2.00 2.75 12.88 2.750 2.500 2.335 $2,350,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 57
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072953 CUSHING,GEORGE L 167 W STREET BEVERLY FA MA 1915 $575,033.48
600072954 DICK,DAVID L 8124 KENTUCKY RAYTOWN MO 64138 $82,190.16
600073026 SMITHIII,ROLAND A 5871 MILLCREST COURT HAMILTON OH 45011 $97,953.95
600073027 TEDESCHI,STEFANO 177 SAXONBURG BLVD PITTSBURGH PA 15238 $139,494.11
600073029 PANNONE,GREGORY S 24 CRESTWOOD DRIVE STAMFORD CT 6905 $234,226.94
600073031 KOWERT,GREGORY C 4 WINGATE ACTON MA 1720 $446,146.34
600073033 DAKER,NIHAL 130 ST. FRANCIS CIR OAKBROOK IL 60521 $531,410.25
600073034 FREIWALDJR.,WILLIAM F 4913 SUNNYDALE BLVD ERIE PA 16509 $108,025.73
600073035 EIKRAM,MOHAMMED 4307 N IRONWOOD WICHITA KS 67226 $209,688.93
600073036 DAVIS,CHRISTOPHER L 3463 CARPENTERS CREE CINCINNATI OH 45241 $199,278.81
600073038 LOVETT,WILLIAM B 2366 LOSANTIVILLE AV CINCINNATI OH 45237 $87,243.58
600073039 STAGG,P. L 13 ORCHARD HILL DR PALMYRA PA 17078 $123,433.92
600073040 VANAMBURGH,FRANK 1722 ROYAL PALM WAY BOCA RATON FL 33432 $743,577.77
600073041 MINDHAM,JEFFREY J 1201 DELWOOD BLUE SPRIN MO 64012 $83,366.72
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072953 CUSHING,GEORGE L 7.875 .250 7.625 .1650 7.460 09/01/2026
600072954 DICK,DAVID L 7.875 .250 7.625 .1650 7.460 09/01/2026
600073026 SMITHIII,ROLAND A 7.875 .250 7.625 .1650 7.460 09/01/2026
600073027 TEDESCHI,STEFANO 7.875 .250 7.625 .1650 7.460 09/01/2026
600073029 PANNONE,GREGORY S 7.875 .250 7.625 .1650 7.460 09/01/2026
600073031 KOWERT,GREGORY C 7.875 .250 7.625 .1650 7.460 09/01/2026
600073033 DAKER,NIHAL 7.875 .250 7.625 .1650 7.460 09/01/2026
600073034 FREIWALDJR.,WILLIAM F 7.875 .250 7.625 .1650 7.460 09/01/2026
600073035 EIKRAM,MOHAMMED 7.875 .250 7.625 .1650 7.460 09/01/2026
600073036 DAVIS,CHRISTOPHER L 7.875 .250 7.625 .1650 7.460 09/01/2026
600073038 LOVETT,WILLIAM B 7.875 .250 7.625 .1650 7.460 09/01/2026
600073039 STAGG,P. L 7.875 .250 7.625 .1650 7.460 09/01/2026
600073040 VANAMBURGH,FRANK 7.875 .250 7.625 .1650 7.460 09/01/2026
600073041 MINDHAM,JEFFREY J 7.875 .250 7.625 .1650 7.460 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072953 CUSHING,GEORGE L 91896775 $4,205.40 09/01/1997 360
600072954 DICK,DAVID L 91894885 $601.08 2 09/01/1997 360
600073026 SMITHIII,ROLAND A 91898245 $716.37 09/01/1997 360
600073027 TEDESCHI,STEFANO 91897571 $1,026.70 09/01/1997 360
600073029 PANNONE,GREGORY S 91896973 $1,712.98 09/01/1997 360
600073031 KOWERT,GREGORY C 91896773 $3,262.81 09/01/1997 360
600073033 DAKER,NIHAL 91896399 $3,886.37 09/01/1997 360
600073034 FREIWALDJR.,WILLIAM F 91896372 $797.58 09/01/1997 360
600073035 EIKRAM,MOHAMMED 91896042 $1,533.52 2 09/01/1997 360
600073036 DAVIS,CHRISTOPHER L 91895629 $1,457.39 09/01/1997 360
600073038 LOVETT,WILLIAM B 91895279 $638.06 09/01/1997 360
600073039 STAGG,P. L 91894985 $902.71 09/01/1997 360
600073040 VANAMBURGH,FRANK 91894941 $5,438.02 09/01/1997 360
600073041 MINDHAM,JEFFREY J 91894797 $610.15 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072953 CUSHING,GEORGE L 2.00 2.75 12.88 2.750 2.500 2.335 $1,600,000.00 N
600072954 DICK,DAVID L 2.00 2.75 12.88 2.750 2.500 2.335 $89,900.00 N
600073026 SMITHIII,ROLAND A 2.00 2.75 12.88 2.750 2.500 2.335 $123,500.00 N
600073027 TEDESCHI,STEFANO 2.00 2.75 12.88 2.750 2.500 2.335 $177,000.00 N
600073029 PANNONE,GREGORY S 2.00 2.75 12.88 2.750 2.500 2.335 $315,000.00 N
600073031 KOWERT,GREGORY C 2.00 2.75 12.88 2.750 2.500 2.335 $575,000.00 N
600073033 DAKER,NIHAL 2.00 2.75 12.88 2.750 2.500 2.335 $670,000.00 N
600073034 FREIWALDJR.,WILLIAM F 2.00 2.75 12.88 2.750 2.500 2.335 $159,900.00 N
600073035 EIKRAM,MOHAMMED 2.00 2.75 12.88 2.750 2.500 2.335 $235,000.00 N
600073036 DAVIS,CHRISTOPHER L 2.00 2.75 12.88 2.750 2.500 2.335 $401,000.00 N
600073038 LOVETT,WILLIAM B 2.00 2.75 12.88 2.750 2.500 2.335 $110,000.00 N
600073039 STAGG,P. L 2.00 2.75 12.88 2.750 2.500 2.335 $155,650.00 N
600073040 VANAMBURGH,FRANK 2.00 2.75 12.88 2.750 2.500 2.335 $1,300,000.00 N
600073041 MINDHAM,JEFFREY J 2.00 2.75 12.88 2.750 2.500 2.335 $99,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 58
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073043 DONOHUE,JOHN B 10409 BLACK IRON ROAD LOUISVILLE KY 40291 $255,004.26
600073044 FINE,ARTHUR L 20 SUNNYVIEW DRIVE REDDING CT 6875 $241,365.72
600073045 BERARDI,ANTHONY G 921 NORTHEAST DRIVE N. HUNTING PA 15642 $238,495.45
600073046 DAVISIII,WILLIAM H 917 CHAUTAUQUA NORMAN OK 73069 $112,344.52
600073048 RAINALDI,LOUIS J 327-32 9 ELLA STREET PITTSBURGH PA 15224 $59,292.59
600073049 PRENTOVIC,TINA M 872 COMPTON ROAD CINCINNATI OH 45231 $114,511.72
600073052 IZADI,MOHAMMED 427 UPPER GULPH ROA RADNOR PA 19087 $247,673.21
600073053 BANNON,PATRICK J 3655 JEFFERSON AVENU WASHINGTON PA 15301 $258,765.05
600073054 BENNUM,RICHARD 305 RED HAWK CIRCLE SILVERTHOR CO 80435 $39,517.53
600073055 BUSHEEIII,RICHARD E 314 ASHBURY LANE CRANBERRY PA 16066 $267,588.86
600073056 NASKY,THOMAS G 1233 HERSCHEL WOODS CINCINNATI OH 45208 $238,341.41
600073057 CHOVAN,DALE A 38 PIRATES WAY MANTEO NC 27954 $328,014.80
600073058 O'CONNOR,TIMOTHY 398 N STREET RIDGEFIELD CT 6877 $409,651.41
600073059 GABRIEL,THOMAS M 17005 ASH HILL DRIVE LOUISVILLE KY 40245 $344,768.34
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073043 DONOHUE,JOHN B 7.875 .250 7.625 .1650 7.460 08/01/2026
600073044 FINE,ARTHUR L 7.875 .250 7.625 .1650 7.460 09/01/2026
600073045 BERARDI,ANTHONY G 7.875 .250 7.625 .1650 7.460 09/01/2026
600073046 DAVISIII,WILLIAM H 7.875 .250 7.625 .1650 7.460 08/01/2026
600073048 RAINALDI,LOUIS J 7.875 .250 7.625 .1650 7.460 09/01/2026
600073049 PRENTOVIC,TINA M 7.875 .250 7.625 .1650 7.460 08/01/2026
600073052 IZADI,MOHAMMED 7.875 .250 7.625 .1650 7.460 08/01/2026
600073053 BANNON,PATRICK J 7.875 .250 7.625 .1650 7.460 09/01/2026
600073054 BENNUM,RICHARD 7.875 .250 7.625 .1650 7.460 09/01/2026
600073055 BUSHEEIII,RICHARD E 7.875 .250 7.625 .1650 7.460 09/01/2026
600073056 NASKY,THOMAS G 7.875 .250 7.625 .1650 7.460 09/01/2026
600073057 CHOVAN,DALE A 7.875 .250 7.625 .1650 7.460 08/01/2026
600073058 O'CONNOR,TIMOTHY 7.875 .250 7.625 .1650 7.460 08/01/2026
600073059 GABRIEL,THOMAS M 7.875 .250 7.625 .1650 7.460 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073043 DONOHUE,JOHN B 91894674 $1,866.33 2 09/01/1997 360
600073044 FINE,ARTHUR L 91894526 $1,769.17 09/01/1997 360
600073045 BERARDI,ANTHONY G 91894468 $1,769.17 09/01/1997 360
600073046 DAVISIII,WILLIAM H 91894342 $822.23 2 09/01/1997 360
600073048 RAINALDI,LOUIS J 91894240 $451.72 09/01/1997 360
600073049 PRENTOVIC,TINA M 91894060 $841.08 09/01/1997 360
600073052 IZADI,MOHAMMED 91893769 $1,812.67 09/01/1997 360
600073053 BANNON,PATRICK J 91893661 $1,892.43 19 09/01/1997 360
600073054 BENNUM,RICHARD 91893552 $1,957.69 09/01/1997 360
600073055 BUSHEEIII,RICHARD E 91893506 $1,956.96 19 09/01/1997 360
600073056 NASKY,THOMAS G 91893364 $1,743.07 09/01/1997 360
600073057 CHOVAN,DALE A 91893198 $2,719.01 09/01/1997 360
600073058 O'CONNOR,TIMOTHY 91893162 $2,998.16 09/01/1997 360
600073059 GABRIEL,THOMAS M 91892868 $2,543.54 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073043 DONOHUE,JOHN B 2.00 2.75 12.88 2.750 2.500 2.335 $286,000.00 N
600073044 FINE,ARTHUR L 2.00 2.75 12.88 2.750 2.500 2.335 $305,000.00 N
600073045 BERARDI,ANTHONY G 2.00 2.75 12.88 2.750 2.500 2.335 $305,000.00 N
600073046 DAVISIII,WILLIAM H 2.00 2.75 12.88 2.750 2.500 2.335 $126,000.00 N
600073048 RAINALDI,LOUIS J 2.00 2.75 12.88 2.750 2.500 2.335 $89,000.00 N
600073049 PRENTOVIC,TINA M 2.00 2.75 12.88 2.750 2.500 2.335 $145,000.00 N
600073052 IZADI,MOHAMMED 2.00 2.75 12.88 2.750 2.500 2.335 $415,000.00 N
600073053 BANNON,PATRICK J 2.00 2.75 12.88 2.750 2.500 2.335 $275,000.00 N
600073054 BENNUM,RICHARD 2.00 2.75 12.88 2.750 2.500 2.335 $365,000.00 N
600073055 BUSHEEIII,RICHARD E 2.00 2.75 12.88 2.750 2.500 2.335 $299,900.00 N
600073056 NASKY,THOMAS G 2.00 2.75 12.88 2.750 2.500 2.335 $300,500.00 N
600073057 CHOVAN,DALE A 2.00 2.75 12.88 2.750 2.500 2.335 $491,500.00 N
600073058 O'CONNOR,TIMOTHY 2.00 2.75 12.88 2.750 2.500 2.335 $590,000.00 N
600073059 GABRIEL,THOMAS M 2.00 2.75 12.88 2.750 2.500 2.335 $438,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 59
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073060 BUMILLER,MAUREEN K 2 VALLEYWOOD RD HOPKINTON MA 1748 $232,812.80
600073061 MILLER,MILTON F 6703 BRIARHILL RD. CRESTWOOD KY 40014 $209,157.17
600073062 MICHAELSHEH,PUI H 5794 S LIMA STREET ENGLEWOOD CO 80111 $341,054.30
600073063 KING,JAMES W 12370 CALLE CELESTINA GILROY CA 95020 $315,040.26
600073064 LOVETT,WILLIAM B 5555 KIRBY AVENUE CINCINNATI OH 45239 $75,226.54
600073065 MUNI,NICHOLAS G 3472 CORNELL PLACE CINCINNATI OH 45220 $204,918.31
600073067 CASEY,BERNADETTE A 804 BAYSWATER AVENU BURLINGAME CA 94010 $256,982.45
600073068 MORRIS,JOSEPH D 846 HOLLAND RD. FAR HILLS NJ 7921 $445,474.55
600073070 HOGAN,TIMOTHY T 993 RIVA RIDGE UNION KY 41091 $321,975.03
600073071 GOULD,ROBERT J 22541 QUINTA ROAD WOODLAND H CA 91364 $419,488.52
600073072 MALATIN,JAMES A 3556 GLENGARY AVENUE CINCINNATI OH 45236 $68,254.00
600073073 TRAPOLSI,PHILIP A 425 BEVERLY DRIVE ERIE PA 16505 $66,028.44
600073075 HARRIS,MELVIN G 2420 FAIRWAY POINTE LEAGUE CIT TX 77573 $170,399.09
600073076 TRUMPY,MATTHEW R 355 E SHARON ROAD CINCINNATI OH 45246 $102,677.83
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073060 BUMILLER,MAUREEN K 7.875 .250 7.625 .1650 7.460 08/01/2026
600073061 MILLER,MILTON F 7.875 .250 7.625 .1650 7.460 08/01/2026
600073062 MICHAELSHEH,PUI H 7.875 .250 7.625 .1650 7.460 09/01/2026
600073063 KING,JAMES W 7.875 .250 7.625 .1650 7.460 08/01/2026
600073064 LOVETT,WILLIAM B 7.875 .250 7.625 .1650 7.460 07/01/2026
600073065 MUNI,NICHOLAS G 7.875 .250 7.625 .1650 7.460 07/01/2026
600073067 CASEY,BERNADETTE A 7.875 .250 7.625 .1650 7.460 07/01/2026
600073068 MORRIS,JOSEPH D 7.875 .250 7.625 .1650 7.460 07/01/2026
600073070 HOGAN,TIMOTHY T 7.875 .250 7.625 .1650 7.460 08/01/2026
600073071 GOULD,ROBERT J 7.875 .250 7.625 .1650 7.460 07/01/2026
600073072 MALATIN,JAMES A 7.875 .250 7.625 .1650 7.460 06/01/2026
600073073 TRAPOLSI,PHILIP A 7.875 .250 7.625 .1650 7.460 06/01/2026
600073075 HARRIS,MELVIN G 7.875 .250 7.625 .1650 7.460 08/01/2026
600073076 TRUMPY,MATTHEW R 7.875 .250 7.625 .1650 7.460 06/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073060 BUMILLER,MAUREEN K 91892512 $1,703.91 09/01/1997 360
600073061 MILLER,MILTON F 91892080 $1,531.35 09/01/1997 360
600073062 MICHAELSHEH,PUI H 91891460 $2,494.24 09/01/1997 360
600073063 KING,JAMES W 91891394 $2,305.72 09/01/1997 360
600073064 LOVETT,WILLIAM B 91890918 $551.05 09/01/1997 360
600073065 MUNI,NICHOLAS G 91890835 $1,500.89 09/01/1997 360
600073067 CASEY,BERNADETTE A 91890258 $1,897.87 09/01/1997 360
600073068 MORRIS,JOSEPH D 91889949 $3,262.81 09/01/1997 360
600073070 HOGAN,TIMOTHY T 91887966 $2,356.48 09/01/1997 360
600073071 GOULD,ROBERT J 91887841 $3,072.48 09/01/1997 360
600073072 MALATIN,JAMES A 91887202 $500.30 09/01/1997 360
600073073 TRAPOLSI,PHILIP A 91885081 $483.98 09/01/1997 360
600073075 HARRIS,MELVIN G 91883889 $1,247.12 09/01/1997 360
600073076 TRUMPY,MATTHEW R 91883845 $752.62 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073060 BUMILLER,MAUREEN K 2.00 2.75 12.88 2.750 2.500 2.335 $305,000.00 N
600073061 MILLER,MILTON F 2.00 2.75 12.88 2.750 2.500 2.335 $264,000.00 N
600073062 MICHAELSHEH,PUI H 2.00 2.75 12.88 2.750 2.500 2.335 $430,000.00 N
600073063 KING,JAMES W 2.00 2.75 12.88 2.750 2.500 2.335 $463,000.00 N
600073064 LOVETT,WILLIAM B 2.00 2.75 12.88 2.750 2.500 2.335 $95,000.00 N
600073065 MUNI,NICHOLAS G 2.00 2.75 12.88 2.750 2.500 2.335 $261,220.00 N
600073067 CASEY,BERNADETTE A 2.00 2.75 12.88 2.750 2.500 2.335 $349,000.00 N
600073068 MORRIS,JOSEPH D 2.00 2.75 12.88 2.750 2.500 2.335 $1,550,000.00 N
600073070 HOGAN,TIMOTHY T 2.00 2.75 12.88 2.750 2.500 2.335 $552,000.00 N
600073071 GOULD,ROBERT J 2.00 2.75 12.88 2.750 2.500 2.335 $565,000.00 N
600073072 MALATIN,JAMES A 2.00 2.75 12.88 2.750 2.500 2.335 $95,000.00 N
600073073 TRAPOLSI,PHILIP A 2.00 2.75 12.88 2.750 2.500 2.335 $89,000.00 N
600073075 HARRIS,MELVIN G 2.00 2.75 12.88 2.750 2.500 2.335 $215,026.00 N
600073076 TRUMPY,MATTHEW R 2.00 2.75 12.88 2.750 2.500 2.335 $136,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 60
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073077 JOHNSON,RUSSELL L 1342 CALLE LAS TRANC THOUSAND O CA 91360 $286,469.19
600073078 TENUTA,JUDY L 13454 CONTOUR DRIVE SHERMAN OA CA 91423 $415,140.61
600073079 WILSON,RUEL P 3609 CASTLEROCK RD NORMAN OK 73072 $111,197.83
600073080 EDWARDS,TODD 283 SUNSET KEY TOWN OF SE NJ 7094 $97,435.17
600073081 SCHEMM,RICHARD L 1240 STUMP RD. N. WALES PA 19454 $296,756.73
600073082 WILLIAMS,ALLEN 23324 PARK SORRENTO CALABASAS CA 91302 $268,852.96
600073083 SCHAEFLE,MARC A 7020 OAK LEAF ROAD EDMOND OK 73013 $87,772.62
600073084 MOORE,PAUL A 500 WAUKEGAN ROAD LAKE FORES IL 60045 $544,054.04
600073085 WANG,QINCHUAN 2419 LOMENT PLACE SAN JOSE CA 95124 $246,250.09
600073086 SMITH,SCOTT S 3411 CHEECHAKO DRIVE RENO NV 89509 $321,239.66
600073087 SHEPPARD,RAYMOND 19110 FOX LANDING DRI BOCA RATON FL 33434 $166,279.15
600073088 HEINEMAN,TONI V 1234 8TH AVENUE SAN FRANCI CA 94122 $319,449.28
600073089 KIRKHAM,DONNA J 255 N MICHIGAN 16 LAWRENCE KS 66044 $32,643.28
600073090 MEYERSIII,A.G. 6405 OAK FOREST ROAD EDMOND OK 73003 $285,966.88
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073077 JOHNSON,RUSSELL L 7.875 .250 7.625 .1650 7.460 06/01/2026
600073078 TENUTA,JUDY L 7.875 .250 7.625 .1650 7.460 05/01/2026
600073079 WILSON,RUEL P 7.875 .250 7.625 .1650 7.460 06/01/2026
600073080 EDWARDS,TODD 7.875 .250 7.625 .1650 7.460 06/01/2026
600073081 SCHEMM,RICHARD L 7.875 .250 7.625 .1650 7.460 06/01/2026
600073082 WILLIAMS,ALLEN 7.875 .250 7.625 .1650 7.460 05/01/2026
600073083 SCHAEFLE,MARC A 7.875 .250 7.625 .1650 7.460 05/01/2026
600073084 MOORE,PAUL A 7.875 .250 7.625 .1650 7.460 06/01/2026
600073085 WANG,QINCHUAN 7.875 .250 7.625 .1650 7.460 05/01/2026
600073086 SMITH,SCOTT S 7.875 .250 7.625 .1650 7.460 05/01/2026
600073087 SHEPPARD,RAYMOND 7.875 .250 7.625 .1650 7.460 05/01/2026
600073088 HEINEMAN,TONI V 7.875 .250 7.625 .1650 7.460 05/01/2026
600073089 KIRKHAM,DONNA J 7.875 .250 7.625 .1650 7.460 06/01/2026
600073090 MEYERSIII,A.G. 7.875 .250 7.625 .1650 7.460 04/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073077 JOHNSON,RUSSELL L 91883515 $2,099.80 09/01/1997 360
600073078 TENUTA,JUDY L 91883093 $3,045.29 09/01/1997 360
600073079 WILSON,RUEL P 91882678 $815.70 19 09/01/1997 360
600073080 EDWARDS,TODD 91882268 $714.19 09/01/1997 360
600073081 SCHEMM,RICHARD L 91881678 $2,175.21 09/01/1997 360
600073082 WILLIAMS,ALLEN 91880965 $1,972.19 09/01/1997 360
600073083 SCHAEFLE,MARC A 91880692 $643.86 09/01/1997 360
600073084 MOORE,PAUL A 91880135 $3,987.88 09/01/1997 360
600073085 WANG,QINCHUAN 91879870 $1,853.28 09/01/1997 360
600073086 SMITH,SCOTT S 91879760 $2,356.48 09/01/1997 360
600073087 SHEPPARD,RAYMOND 91879619 $2,537.74 09/01/1997 360
600073088 HEINEMAN,TONI V 91879001 $2,349.23 09/01/1997 360
600073089 KIRKHAM,DONNA J 91878984 $239.27 09/01/1997 360
600073090 MEYERSIII,A.G. 91878625 $2,117.20 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073077 JOHNSON,RUSSELL L 2.00 2.75 12.88 2.750 2.500 2.335 $362,000.00 N
600073078 TENUTA,JUDY L 2.00 2.75 12.88 2.750 2.500 2.335 $525,000.00 N
600073079 WILSON,RUEL P 2.00 2.75 12.88 2.750 2.500 2.335 $125,000.00 N
600073080 EDWARDS,TODD 2.00 2.75 12.88 2.750 2.500 2.335 $138,500.00 N
600073081 SCHEMM,RICHARD L 2.00 2.75 12.88 2.750 2.500 2.335 $375,000.00 N
600073082 WILLIAMS,ALLEN 2.00 2.75 12.88 2.750 2.500 2.335 $340,000.00 N
600073083 SCHAEFLE,MARC A 2.00 2.75 12.88 2.750 2.500 2.335 $111,000.00 N
600073084 MOORE,PAUL A 2.00 2.75 12.88 2.750 2.500 2.335 $1,125,000.00 N
600073085 WANG,QINCHUAN 2.00 2.75 12.88 2.750 2.500 2.335 $319,500.00 N
600073086 SMITH,SCOTT S 2.00 2.75 12.88 2.750 2.500 2.335 $425,000.00 N
600073087 SHEPPARD,RAYMOND 2.00 2.75 12.88 2.750 2.500 2.335 $517,500.00 N
600073088 HEINEMAN,TONI V 2.00 2.75 12.88 2.750 2.500 2.335 $450,000.00 N
600073089 KIRKHAM,DONNA J 2.00 2.75 12.88 2.750 2.500 2.335 $43,000.00 N
600073090 MEYERSIII,A.G. 2.00 2.75 12.88 2.750 2.500 2.335 $365,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 61
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073091 LAGE,WILLIAM H 201 LEATHERBARK ROA CRANBERRY PA 16066 $74,189.22
600073092 HICKMAN,ERIC W 1190 WELLESLEY AVENU BATAVIA OH 45103 $177,452.92
600073093 FOREMAN,ROLAND K 6604 NEVILLE COURT MASON OH 45040 $396,276.99
600073094 COMPTON,R.TOM 28 SANDPIPER CIRCL WICHITA KS 67230 $247,297.36
600073095 SCHWARTZ,WILLIAM 845 MT. MORO ROAD VILLANOVA PA 19085 $612,826.59
600073096 WEBB,SEAN J #6 OAK HOLLOW DRIV ST PETERS MO 63376 $136,246.22
600073097 FINN,DORON H 89 ALEXANDER DRIVE PETERS TOW PA 15317 $383,037.47
600073098 AVRAMIDES,MICHAEL 277 MERRYALL ROAD NEW MILFOR CT 6776 $214,243.04
600073099 CRYTZER,FRED 12 CHADIMA CT. PLEASANT H CA 94523 $255,630.19
600073100 MONTEBELLO,JOSEPH E 159 S STREET LITCHFIELD CT 6759 $296,527.16
600073101 WISTER,ETHEL B 2175 BUTTONWOOD ROAD BERWYN PA 19312 $345,950.55
600073102 BREWSTER,SCOT A 4715 LA NORIA RANCHO SAN CA 92067 $782,836.53
600073103 LANIER,ELIZABETH K 1846 KEYS CRESCENT CINCINNATI OH 45206 $593,965.92
600073104 HASS,RAYMOND T 3101 THOUSAND OAKS D LOUISVILLE KY 40205 $217,952.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073091 LAGE,WILLIAM H 7.875 .250 7.625 .1650 7.460 06/01/2026
600073092 HICKMAN,ERIC W 7.875 .250 7.625 .1650 7.460 08/01/2026
600073093 FOREMAN,ROLAND K 7.875 .250 7.625 .1650 7.460 08/01/2026
600073094 COMPTON,R.TOM 7.875 .250 7.625 .1650 7.460 06/01/2026
600073095 SCHWARTZ,WILLIAM 7.875 .250 7.625 .1650 7.460 05/01/2026
600073096 WEBB,SEAN J 7.875 .250 7.625 .1650 7.460 05/01/2026
600073097 FINN,DORON H 7.875 .250 7.625 .1650 7.460 07/01/2026
600073098 AVRAMIDES,MICHAEL 7.875 .250 7.625 .1650 7.460 06/01/2026
600073099 CRYTZER,FRED 7.875 .250 7.625 .1650 7.460 04/01/2026
600073100 MONTEBELLO,JOSEPH E 7.875 .250 7.625 .1650 7.460 05/01/2026
600073101 WISTER,ETHEL B 7.875 .250 7.625 .1650 7.460 05/01/2026
600073102 BREWSTER,SCOT A 7.875 .250 7.625 .1650 7.460 05/01/2026
600073103 LANIER,ELIZABETH K 7.875 .250 7.625 .1650 7.460 07/01/2026
600073104 HASS,RAYMOND T 7.875 .250 7.625 .1650 7.460 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073091 LAGE,WILLIAM H 91878296 $543.80 09/01/1997 360
600073092 HICKMAN,ERIC W 91876831 $1,298.74 09/01/1997 360
600073093 FOREMAN,ROLAND K 91876563 $2,900.28 09/01/1997 360
600073094 COMPTON,R.TOM 91876494 $1,812.67 09/01/1997 360
600073095 SCHWARTZ,WILLIAM 91876334 $4,495.43 09/01/1997 360
600073096 WEBB,SEAN J 91876217 $1,001.68 1 09/01/1997 360
600073097 FINN,DORON H 91875377 $2,827.77 19 09/01/1997 360
600073098 AVRAMIDES,MICHAEL 91875178 $1,712.98 09/01/1997 360
600073099 CRYTZER,FRED 91875021 $1,879.74 19 09/01/1997 360
600073100 MONTEBELLO,JOSEPH E 91874942 $2,175.21 09/01/1997 360
600073101 WISTER,ETHEL B 91874921 $2,537.74 09/01/1997 360
600073102 BREWSTER,SCOT A 91873248 $5,742.55 09/01/1997 360
600073103 LANIER,ELIZABETH K 91872398 $4,350.42 09/01/1997 360
600073104 HASS,RAYMOND T 91863160 $1,595.15 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073091 LAGE,WILLIAM H 2.00 2.75 12.88 2.750 2.500 2.335 $102,500.00 N
600073092 HICKMAN,ERIC W 2.00 2.75 12.88 2.750 2.500 2.335 $223,990.00 N
600073093 FOREMAN,ROLAND K 2.00 2.75 12.88 2.750 2.500 2.335 $665,000.00 N
600073094 COMPTON,R.TOM 2.00 2.75 12.88 2.750 2.500 2.335 $350,000.00 N
600073095 SCHWARTZ,WILLIAM 2.00 2.75 12.88 2.750 2.500 2.335 $920,000.00 N
600073096 WEBB,SEAN J 2.00 2.75 12.88 2.750 2.500 2.335 $153,500.00 N
600073097 FINN,DORON H 2.00 2.75 12.88 2.750 2.500 2.335 $450,000.00 N
600073098 AVRAMIDES,MICHAEL 2.00 2.75 12.88 2.750 2.500 2.335 $315,000.00 N
600073099 CRYTZER,FRED 2.00 2.75 12.88 2.750 2.500 2.335 $305,000.00 N
600073100 MONTEBELLO,JOSEPH E 2.00 2.75 12.88 2.750 2.500 2.335 $380,000.00 N
600073101 WISTER,ETHEL B 2.00 2.75 12.88 2.750 2.500 2.335 $1,800,000.00 N
600073102 BREWSTER,SCOT A 2.00 2.75 12.88 2.750 2.500 2.335 $1,200,000.00 N
600073103 LANIER,ELIZABETH K 2.00 2.75 12.88 2.750 2.500 2.335 $750,000.00 N
600073104 HASS,RAYMOND T 2.00 2.75 12.88 2.750 2.500 2.335 $293,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 62
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073105 BROPHY,KEVIN M 3 ELMSHADOW COURT ST. PETERS MO 63376 $99,903.42
600073106 SNEVE,JERRY B 3375 AVENIDA NIEVE CARLSBAD CA 92009 $312,254.13
600073107 SCHENCK,NICHOLAS L 9236 CORDELL DRIVE LOS ANGELE CA 90069 $952,599.34
600073108 ASHDOWN,CHARLES C 1739 CHURCHWOOD DRIV CINCINNATI OH 45238 $165,374.60
600073109 ZYBERT,JOHN 25 FARMINGTON DRIV SHREWSBURY MA 1545 $232,564.57
600073110 HOLMES,HEDY M 2953 PACIFIC AVENUE SAN FRANCI CA 94115 $524,695.40
600073111 STUCKERT,JEFFREY A 8141 BRIDLEMAKER LAN CINCINNATI OH 45242 $445,135.17
600073112 FULWILER,JOHN M 33751 DONEGAL LANE SAN JUAN C CA 92675 $568,542.70
600073113 BEHLINGII,W A 260 BUNGALOW AVENUE SAN RAFAEL CA 94901 $232,355.93
600073114 AMID-HOZOUR,SAEED 970 SISKIYOU DRIVE MENLO PARK CA 94025 $344,595.69
600073115 LAMBERTJR,LEWIS H 45928 OMEGA DRIVE FREMONT CA 94539 $315,025.50
600073116 FONK,RONALD J 6229 MANOR DRIVE CRESTWOOD KY 40014 $89,056.67
600073117 PALANISWAMY,SAMPATH 1875 SUNSHINE COURT THOUSAND O CA 91362 $271,028.37
600073118 BAI,XU 3357 AVENIDA NIEVE CARLSBAD CA 92009 $232,700.30
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073105 BROPHY,KEVIN M 7.875 .250 7.625 .1650 7.460 06/01/2026
600073106 SNEVE,JERRY B 7.875 .250 7.625 .1650 7.460 03/01/2026
600073107 SCHENCK,NICHOLAS L 7.875 .250 7.625 .1650 7.460 05/01/2026
600073108 ASHDOWN,CHARLES C 7.875 .250 7.625 .1650 7.460 06/01/2026
600073109 ZYBERT,JOHN 7.875 .250 7.625 .1650 7.460 05/01/2026
600073110 HOLMES,HEDY M 7.875 .250 7.625 .1650 7.460 01/01/2026
600073111 STUCKERT,JEFFREY A 7.875 .250 7.625 .1650 7.460 06/01/2026
600073112 FULWILER,JOHN M 7.875 .250 7.625 .1650 7.460 01/01/2026
600073113 BEHLINGII,W A 7.875 .250 7.625 .1650 7.460 12/01/2025
600073114 AMID-HOZOUR,SAEED 7.875 .250 7.625 .1650 7.460 12/01/2025
600073115 LAMBERTJR,LEWIS H 7.875 .250 7.625 .1650 7.460 12/01/2025
600073116 FONK,RONALD J 7.875 .250 7.625 .1650 7.460 08/01/2026
600073117 PALANISWAMY,SAMPATH 7.875 .250 7.625 .1650 7.460 11/01/2025
600073118 BAI,XU 7.875 .250 7.625 .1650 7.460 12/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073105 BROPHY,KEVIN M 91862825 $738.12 19 09/01/1997 360
600073106 SNEVE,JERRY B 91859509 $2,294.12 19 09/01/1997 360
600073107 SCHENCK,NICHOLAS L 91859051 $6,987.86 09/01/1997 360
600073108 ASHDOWN,CHARLES C 91858764 $1,218.12 09/01/1997 360
600073109 ZYBERT,JOHN 91856046 $1,706.09 19 09/01/1997 360
600073110 HOLMES,HEDY M 91854382 $3,860.99 09/01/1997 360
600073111 STUCKERT,JEFFREY A 91853928 $3,262.81 09/01/1997 360
600073112 FULWILER,JOHN M 91852721 $4,183.65 09/01/1997 360
600073113 BEHLINGII,W A 91851716 $1,711.16 09/01/1997 360
600073114 AMID-HOZOUR,SAEED 91850859 $2,537.74 09/01/1997 360
600073115 LAMBERTJR,LEWIS H 91849700 $2,320.23 09/01/1997 360
600073116 FONK,RONALD J 91848925 $652.56 09/01/1997 360
600073117 PALANISWAMY,SAMPATH 91847452 $1,997.57 1 09/01/1997 360
600073118 BAI,XU 91846821 $1,713.71 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073105 BROPHY,KEVIN M 2.00 2.75 12.88 2.750 2.500 2.335 $119,847.00 N
600073106 SNEVE,JERRY B 2.00 2.75 12.88 2.750 2.500 2.335 $333,074.00 N
600073107 SCHENCK,NICHOLAS L 2.00 2.75 12.88 2.750 2.500 2.335 $1,300,000.00 N
600073108 ASHDOWN,CHARLES C 2.00 2.75 12.88 2.750 2.500 2.335 $210,000.00 N
600073109 ZYBERT,JOHN 2.00 2.75 12.88 2.750 2.500 2.335 $247,725.00 N
600073110 HOLMES,HEDY M 2.00 2.75 12.88 2.750 2.500 2.335 $710,000.00 N
600073111 STUCKERT,JEFFREY A 2.00 2.75 12.88 2.750 2.500 2.335 $600,000.00 N
600073112 FULWILER,JOHN M 2.00 2.75 12.88 2.750 2.500 2.335 $770,000.00 N
600073113 BEHLINGII,W A 2.00 2.75 12.88 2.750 2.500 2.335 $382,500.00 N
600073114 AMID-HOZOUR,SAEED 2.00 2.75 12.88 2.750 2.500 2.335 $755,000.00 N
600073115 LAMBERTJR,LEWIS H 2.00 2.75 12.88 2.750 2.500 2.335 $415,000.00 N
600073116 FONK,RONALD J 2.00 2.75 12.88 2.750 2.500 2.335 $147,000.00 N
600073117 PALANISWAMY,SAMPATH 2.00 2.75 12.88 2.750 2.500 2.335 $290,000.00 N
600073118 BAI,XU 2.00 2.75 12.88 2.750 2.500 2.335 $295,470.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 63
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073119 BERNARDO,ASSUNTA 23 WOOD AVENUE WETHERSFIE CT 6109 $49,188.60
600073120 JOHNSON,MARVIN A 83 CHAMPAGNE DRIVE LAKE ST. L MO 63367 $183,189.41
600073121 GUITTARD,JEAN-PIERRE 336 NARDO AVE. SOLANA BEA CA 92075 $293,488.59
600073122 CHA,JEAN N 2246 DEODORA DRIVE LOS ALTOS CA 94024 $377,462.18
600073123 BOSSART,DIANA H 500 OAK CREST ROAD SAN ANSELM CA 94960 $544,022.29
600073124 MATSUMOTO,JUDY K 6357 CAPRICORN AVENU AGOURA HIL CA 91301 $181,850.29
600073126 BARRY,PATRICK J 2430 EL AMIGO ROAD DEL MAR CA 92014 $285,292.92
600073127 JOHNSON,HARVEY C 7115 GLEN LAKE ROAD GLEN ARBOR MI 49636 $218,423.52
600073128 JERMIGAN,JOHN J 29106 HILLVIEW STREET HAYWARD CA 94544 $214,555.91
600073129 BARTLO,ALEXIS 740 WHISKEY HILL RO WOODSIDE CA 94062 $245,543.80
600073130 BUTTS,JAMES E 16 GREY EAGLE COUR PLEASANTON CA 94566 $437,546.28
600073131 B.GREENBERG,EDITH 10591 ROCCA WAY LOS ANGELE CA 90077 $455,355.53
600073132 BREN,LINDA 155 SHEARER ROAD WASHINGTON CT 6793 $785,739.68
600073133 SHARP,ERIC C 809 REGENCY DRIVE KEARNEY MO 64060 $164,343.88
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073119 BERNARDO,ASSUNTA 7.875 .250 7.625 .1650 7.460 11/01/2025
600073120 JOHNSON,MARVIN A 7.875 .250 7.625 .1650 7.460 05/01/2026
600073121 GUITTARD,JEAN-PIERRE 7.875 .250 7.625 .1650 7.460 01/01/2026
600073122 CHA,JEAN N 7.875 .250 7.625 .1650 7.460 10/01/2025
600073123 BOSSART,DIANA H 7.875 .250 7.625 .1650 7.460 11/01/2025
600073124 MATSUMOTO,JUDY K 7.875 .250 7.625 .1650 7.460 10/01/2025
600073126 BARRY,PATRICK J 7.875 .250 7.625 .1650 7.460 11/01/2025
600073127 JOHNSON,HARVEY C 7.875 .250 7.625 .1650 7.460 12/01/2025
600073128 JERMIGAN,JOHN J 7.875 .250 7.625 .1650 7.460 09/01/2025
600073129 BARTLO,ALEXIS 7.875 .250 7.625 .1650 7.460 09/01/2025
600073130 BUTTS,JAMES E 7.875 .250 7.625 .1650 7.460 09/01/2025
600073131 B.GREENBERG,EDITH 7.875 .250 7.625 .1650 7.460 08/01/2025
600073132 BREN,LINDA 7.875 .250 7.625 .1650 7.460 09/01/2025
600073133 SHARP,ERIC C 7.875 .250 7.625 .1650 7.460 06/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073119 BERNARDO,ASSUNTA 91846006 $362.53 09/01/1997 360
600073120 JOHNSON,MARVIN A 91845851 $1,343.92 19 09/01/1997 360
600073121 GUITTARD,JEAN-PIERRE 91845259 $2,175.21 09/01/1997 360
600073122 CHA,JEAN N 91842925 $2,784.27 09/01/1997 360
600073123 BOSSART,DIANA H 91842884 $4,009.63 09/01/1997 360
600073124 MATSUMOTO,JUDY K 91842004 $1,341.38 09/01/1997 360
600073126 BARRY,PATRICK J 91840600 $2,102.71 09/01/1997 360
600073127 JOHNSON,HARVEY C 91839344 $1,619.81 09/01/1997 360
600073128 JERMIGAN,JOHN J 91837534 $1,583.92 14 09/01/1997 360
600073129 BARTLO,ALEXIS 91834982 $1,812.67 09/01/1997 360
600073130 BUTTS,JAMES E 91830482 $3,371.57 09/01/1997 360
600073131 B.GREENBERG,EDITH 91830217 $3,364.32 09/01/1997 360
600073132 BREN,LINDA 91828511 $5,800.56 09/01/1997 360
600073133 SHARP,ERIC C 91827884 $1,204.63 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073119 BERNARDO,ASSUNTA 2.00 2.75 12.88 2.750 2.500 2.335 $119,000.00 N
600073120 JOHNSON,MARVIN A 2.00 2.75 12.88 2.750 2.500 2.335 $205,985.73 N
600073121 GUITTARD,JEAN-PIERRE 2.00 2.75 12.88 2.750 2.500 2.335 $3,875,000.00 N
600073122 CHA,JEAN N 2.00 2.75 12.75 2.750 2.500 2.335 $540,000.00 N
600073123 BOSSART,DIANA H 2.00 2.75 12.75 2.750 2.500 2.335 $750,000.00 N
600073124 MATSUMOTO,JUDY K 2.00 2.75 12.75 2.750 2.500 2.335 $255,000.00 N
600073126 BARRY,PATRICK J 2.00 2.75 12.88 2.750 2.500 2.335 $485,000.00 N
600073127 JOHNSON,HARVEY C 2.00 2.75 12.75 2.750 2.500 2.335 $495,000.00 N
600073128 JERMIGAN,JOHN J 2.00 2.75 12.75 2.750 2.500 2.335 $229,990.00 N
600073129 BARTLO,ALEXIS 2.00 2.75 13.13 2.750 2.500 2.335 $1,500,000.00 N
600073130 BUTTS,JAMES E 2.00 2.75 13.13 2.750 2.500 2.335 $640,000.00 N
600073131 B.GREENBERG,EDITH 2.00 2.75 13.13 2.750 2.500 2.335 $684,000.00 N
600073132 BREN,LINDA 2.00 2.75 12.75 2.750 2.500 2.335 $1,325,000.00 N
600073133 SHARP,ERIC C 2.00 2.75 12.88 2.750 2.500 2.335 $184,600.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 64
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073134 WESTON,MICHAEL S 21697 LOMITA AVE. CUPERTINO CA 95014 $213,698.17
600073135 NARWID,PAUL 7 PLANTATION ROAD WHITEHOUSE NJ 8889 $237,089.76
600073136 BREEDLOVE,HOWELL A 3245 TUCKER RANCH RO NW OF JACK WY 83001 $589,304.73
600073137 BRUCE,JOHN P 284 WHITNEY STREET NORTHBOROU MA 1532 $204,758.15
600073138 PORRELLO,ANTHONY J 6511 N NORTHWEST HGW CHICAGO IL 60631 $87,465.96
600073139 STEFFENSEN,KIM 2902 TRAILRIDGE DRIV NORMAN OK 73072 $90,198.30
600073140 VECCHIA,GERARD B 42 HAMILTON ROAD TWP PARSIP NJ 7054 $158,850.63
600073168 BRAVERMAN,CHARLES D 812 17TH STREET SANTA MONI CA 90403 $338,327.86
600073169 CASTRO,ARMANDO 129 N WILLOW SPRINGS ORANGE CA 92669 $296,439.63
600073171 CASSELS,WILLIAM A 9516 72N AVE NW GIG HARBOR WA 98332 $250,684.83
600073190 PETERS,ROBERT J 2920 E KENTUCKY AVENUE SALT LAKE UT 84117 $217,665.46
600073218 ROBINSON,H. G 3863 WELLINGTON COUR WEST LINN OR 97068 $394,591.88
600073219 CRADER,WILLIAM D 22736 SWEET MEADOW MISSION VI CA 92692 $286,100.66
600073220 MOORE,JAMES P 36 DOWNFIELD WAY COTO DE CA CA 92679 $294,037.50
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073134 WESTON,MICHAEL S 7.875 .250 7.625 .1650 7.460 08/01/2025
600073135 NARWID,PAUL 7.875 .250 7.625 .1650 7.460 11/01/2025
600073136 BREEDLOVE,HOWELL A 7.875 .250 7.625 .1650 7.460 09/01/2025
600073137 BRUCE,JOHN P 7.875 .250 7.625 .1650 7.460 07/01/2025
600073138 PORRELLO,ANTHONY J 7.875 .250 7.625 .1650 7.460 07/01/2025
600073139 STEFFENSEN,KIM 7.875 .250 7.625 .1650 7.460 07/01/2025
600073140 VECCHIA,GERARD B 7.875 .250 7.625 .1650 7.460 07/01/2025
600073168 BRAVERMAN,CHARLES D 7.875 .250 7.625 .1650 7.460 09/01/2026
600073169 CASTRO,ARMANDO 7.875 .250 7.625 .1650 7.460 09/01/2026
600073171 CASSELS,WILLIAM A 7.875 .250 7.625 .1650 7.460 09/01/2026
600073190 PETERS,ROBERT J 7.875 .250 7.625 .1650 7.460 09/01/2026
600073218 ROBINSON,H. G 7.875 .250 7.625 .1650 7.460 09/01/2026
600073219 CRADER,WILLIAM D 7.875 .250 7.625 .1650 7.460 08/01/2026
600073220 MOORE,JAMES P 7.875 .250 7.625 .1650 7.460 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073134 WESTON,MICHAEL S 91827005 $1,595.15 09/01/1997 360
600073135 NARWID,PAUL 91824057 $1,749.59 2 09/01/1997 360
600073136 BREEDLOVE,HOWELL A 91821101 $4,350.42 09/01/1997 360
600073137 BRUCE,JOHN P 91818019 $1,515.40 19 09/01/1997 360
600073138 PORRELLO,ANTHONY J 91813275 $646.76 09/01/1997 360
600073139 STEFFENSEN,KIM 91807121 $667.43 1 09/01/1997 360
600073140 VECCHIA,GERARD B 91804343 $1,174.61 2 09/01/1997 360
600073168 BRAVERMAN,CHARLES D 92400721 $2,474.30 09/01/1997 360
600073169 CASTRO,ARMANDO 92400161 $2,167.96 09/01/1997 360
600073171 CASSELS,WILLIAM A 91899175 $1,833.34 19 09/01/1997 360
600073190 PETERS,ROBERT J 92400414 $1,592.25 7 09/01/1997 360
600073218 ROBINSON,H. G 91895074 $2,885.78 09/01/1997 360
600073219 CRADER,WILLIAM D 91894937 $2,094.37 09/01/1997 360
600073220 MOORE,JAMES P 91894603 $2,152.01 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073134 WESTON,MICHAEL S 2.00 2.75 13.13 2.750 2.500 2.335 $275,000.00 N
600073135 NARWID,PAUL 2.00 2.75 12.88 2.750 2.500 2.335 $254,000.00 N
600073136 BREEDLOVE,HOWELL A 2.00 2.75 13.13 2.750 2.500 2.335 $2,400,000.00 N
600073137 BRUCE,JOHN P 2.00 2.75 13.13 2.750 2.500 2.335 $220,000.00 N
600073138 PORRELLO,ANTHONY J 2.00 2.75 13.13 2.750 2.500 2.335 $111,500.00 N
600073139 STEFFENSEN,KIM 2.00 2.75 13.25 2.750 2.500 2.335 $96,900.00 N
600073140 VECCHIA,GERARD B 2.00 2.75 13.13 2.750 2.500 2.335 $180,000.00 N
600073168 BRAVERMAN,CHARLES D 2.00 2.75 12.88 2.750 2.500 2.335 $455,000.00 N
600073169 CASTRO,ARMANDO 2.00 2.75 12.88 2.750 2.500 2.335 $400,000.00 N
600073171 CASSELS,WILLIAM A 2.00 2.88 12.88 2.875 2.625 2.460 $281,000.00 N
600073190 PETERS,ROBERT J 2.00 2.75 12.88 2.750 2.500 2.335 $244,000.00 N
600073218 ROBINSON,H. G 2.00 2.75 12.88 2.750 2.500 2.335 $498,000.00 N
600073219 CRADER,WILLIAM D 2.00 2.75 12.88 2.750 2.500 2.335 $361,078.00 N
600073220 MOORE,JAMES P 2.00 2.75 12.88 2.750 2.500 2.335 $371,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 65
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073221 BRISKIE,RONALD F 19 RIVIERA COTO DE CA CA 92679 $320,255.31
600073222 JUDGE,MARK M 1043 ARDILLA PLACE CHULA VIST CA 91910 $205,122.86
600073223 TENCZAR,DAVID J 2015 BENTWOOD COURT CUMMING GA 30130 $148,227.25
600073224 GULSTENE,KEVIN M 2070 DAHLIA STREET DENVER CO 80207 $238,385.05
600073225 KLEIBER,ROBERT 279 FLAMINGO ROAD MILL VALLE CA 94941 $220,315.56
600073226 HOKANSON,PAUL D 414 E CHESTNUT STREET ODESSA MO 64076 $70,385.04
600073227 ASHER,TRACY L 305 N FOREST RIDGE BO BROKEN ARR OK 74012 $234,695.08
600073228 BOUCHER,GINA S 76 LOIS STREET BRISTOL CT 6010 $83,303.66
600073229 DINGELDEIN,WILLIAM 90 PALADINI NOVATO CA 94947 $237,586.36
600073230 BITONDO,DAVID L 628 DORNOCH DR. ANN ARBOR MI 48103 $342,124.40
600073231 ABUAN,CONTANCE A 883 TANAGER ROAD LIVERMORE CA 94550 $263,104.05
600073232 RICHES,KENNETH W 370 GENOA DRIVE REDWOOD CI CA 94065 $221,528.59
600073234 DWORSKYG,MARC T 2337 OBSERVATORY AVE LOS ANGELE CA 90027 $371,101.55
600073235 BALSMEYER,RANDALL 35 BETHUNE STREET NEW YORK NY 10004 $459,333.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073221 BRISKIE,RONALD F 7.875 .250 7.625 .1650 7.460 09/01/2026
600073222 JUDGE,MARK M 7.875 .250 7.625 .1650 7.460 08/01/2026
600073223 TENCZAR,DAVID J 7.875 .250 7.625 .1650 7.460 09/01/2026
600073224 GULSTENE,KEVIN M 7.875 .250 7.625 .1650 7.460 07/01/2026
600073225 KLEIBER,ROBERT 7.875 .250 7.625 .1650 7.460 07/01/2026
600073226 HOKANSON,PAUL D 7.875 .250 7.625 .1650 7.460 07/01/2026
600073227 ASHER,TRACY L 7.875 .250 7.625 .1650 7.460 08/01/2026
600073228 BOUCHER,GINA S 7.875 .250 7.625 .1650 7.460 07/01/2026
600073229 DINGELDEIN,WILLIAM 7.875 .250 7.625 .1650 7.460 07/01/2026
600073230 BITONDO,DAVID L 7.875 .250 7.625 .1650 7.460 07/01/2026
600073231 ABUAN,CONTANCE A 7.875 .250 7.625 .1650 7.460 06/01/2026
600073232 RICHES,KENNETH W 7.875 .250 7.625 .1650 7.460 06/01/2026
600073234 DWORSKYG,MARC T 7.875 .250 7.625 .1650 7.460 09/01/2026
600073235 BALSMEYER,RANDALL 7.875 .250 7.625 .1650 7.460 07/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073221 BRISKIE,RONALD F 91894332 $2,356.48 09/01/1997 360
600073222 JUDGE,MARK M 91893491 $1,501.26 09/01/1997 360
600073223 TENCZAR,DAVID J 91892258 $1,090.50 09/01/1997 360
600073224 GULSTENE,KEVIN M 91888338 $1,761.19 19 09/01/1997 360
600073225 KLEIBER,ROBERT 91887224 $1,618.35 09/01/1997 360
600073226 HOKANSON,PAUL D 91886178 $515.52 19 09/01/1997 360
600073227 ASHER,TRACY L 91885729 $1,717.69 19 09/01/1997 360
600073228 BOUCHER,GINA S 91885285 $610.15 19 09/01/1997 360
600073229 DINGELDEIN,WILLIAM 91885209 $1,740.17 09/01/1997 360
600073230 BITONDO,DAVID L 91884681 $2,505.84 14 09/01/1997 360
600073231 ABUAN,CONTANCE A 91883689 $1,930.86 19 09/01/1997 360
600073232 RICHES,KENNETH W 91882590 $1,623.80 09/01/1997 360
600073234 DWORSKYG,MARC T 91880238 $2,726.26 09/01/1997 360
600073235 BALSMEYER,RANDALL 91879386 $3,364.32 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073221 BRISKIE,RONALD F 2.00 2.75 12.88 2.750 2.500 2.335 $420,000.00 N
600073222 JUDGE,MARK M 2.00 2.75 12.88 2.750 2.500 2.335 $258,854.00 N
600073223 TENCZAR,DAVID J 2.00 2.75 12.88 2.750 2.500 2.335 $188,000.00 N
600073224 GULSTENE,KEVIN M 2.00 2.75 12.88 2.750 2.500 2.335 $269,900.00 N
600073225 KLEIBER,ROBERT 2.00 2.75 12.88 2.750 2.500 2.335 $279,000.00 N
600073226 HOKANSON,PAUL D 2.00 2.75 12.88 2.750 2.500 2.335 $79,000.00 N
600073227 ASHER,TRACY L 2.00 2.75 12.88 2.750 2.500 2.335 $249,400.00 N
600073228 BOUCHER,GINA S 2.00 2.75 12.88 2.750 2.500 2.335 $93,500.00 N
600073229 DINGELDEIN,WILLIAM 2.00 2.75 12.88 2.750 2.500 2.335 $300,000.00 N
600073230 BITONDO,DAVID L 2.00 2.75 12.88 2.750 2.500 2.335 $384,000.00 N
600073231 ABUAN,CONTANCE A 2.00 2.75 12.88 2.750 2.500 2.335 $280,353.00 N
600073232 RICHES,KENNETH W 2.00 2.75 12.88 2.750 2.500 2.335 $279,990.00 N
600073234 DWORSKYG,MARC T 2.00 2.75 12.88 2.750 2.500 2.335 $470,000.00 N
600073235 BALSMEYER,RANDALL 2.00 2.75 12.88 2.750 2.500 2.335 $580,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 66
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073236 KERN,KATHLEEN T 140 SEA ISLAND BLVD FT. MILL SC 29715 $90,975.78
600073237 MICHAELIS,THEODORE K 1240 MOUNTAIN VIEW R ACME PA 15610 $147,415.11
600073238 NIXON,JOHN E 5620 WICKERSHIRE LAN OAKVILLE MO 63129 $101,861.46
600073244 GUZMAN,GEORGE 1349 CAYUGA AVENUE SAN FRANCI CA 94112 $232,045.21
600073245 STARKEY,DAN B 23741 VIA ROBLE COTO DE CA CA 92679 $827,340.56
600073269 DAVIS,JOHNNY R 418 FISHERS ROAD BRYN MAWR PA 19010 $610,854.17
600073271 MCCORD,ELIZABETH A 3123 WOODSFIELD CINCINNATI OH 45213 $64,456.99
600073273 SCOTT,TINA L 1032 S YORK STREET DENVER CO 80209 $296,142.83
600073274 WAID,MICHAEL R 1612 KNOX DR. BRENTWOOD TN 37027 $287,329.57
600073276 STEINBERG,SCOTT H 3407 ASTON COURT CINCINNATI OH 45209 $114,946.64
600073277 POTTSJR,GROVER C 539 GARDEN DRIVE LOUISVILLE KY 40206 $241,713.81
600073278 WEINBERGER,JACK L 1409 8TH AVE W SEATTLE WA 98119 $227,363.07
600073280 GREENBERG,BRAD 726 MOUNT MORO ROAD VILLANOVA PA 19085 $571,188.34
600073282 HALBERT,STANLEY P 106 INVERNESS DRIVE BLUE BELL PA 19422 $283,743.03
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073236 KERN,KATHLEEN T 7.875 .250 7.625 .1650 7.460 07/01/2026
600073237 MICHAELIS,THEODORE K 7.875 .250 7.625 .1650 7.460 08/01/2026
600073238 NIXON,JOHN E 7.875 .250 7.625 .1650 7.460 08/01/2026
600073244 GUZMAN,GEORGE 8.000 .250 7.750 .1650 7.585 09/01/2026
600073245 STARKEY,DAN B 8.000 .250 7.750 .1650 7.585 12/01/2025
600073269 DAVIS,JOHNNY R 8.000 .250 7.750 .1650 7.585 09/01/2026
600073271 MCCORD,ELIZABETH A 8.000 .250 7.750 .1650 7.585 09/01/2026
600073273 SCOTT,TINA L 8.000 .250 7.750 .1650 7.585 09/01/2026
600073274 WAID,MICHAEL R 8.000 .250 7.750 .1650 7.585 09/01/2026
600073276 STEINBERG,SCOTT H 8.000 .250 7.750 .1650 7.585 08/01/2026
600073277 POTTSJR,GROVER C 8.000 .250 7.750 .1650 7.585 09/01/2026
600073278 WEINBERGER,JACK L 8.000 .250 7.750 .1650 7.585 08/01/2026
600073280 GREENBERG,BRAD 8.000 .250 7.750 .1650 7.585 09/01/2026
600073282 HALBERT,STANLEY P 8.000 .250 7.750 .1650 7.585 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073236 KERN,KATHLEEN T 91878536 $666.34 2 09/01/1997 360
600073237 MICHAELIS,THEODORE K 91872451 $1,078.90 09/01/1997 360
600073238 NIXON,JOHN E 91868411 $746.82 09/01/1997 360
600073244 GUZMAN,GEORGE 91898172 $1,717.01 7 09/01/1997 360
600073245 STARKEY,DAN B 91852649 $6,163.62 09/01/1997 360
600073269 DAVIS,JOHNNY R 91897471 $4,519.99 09/01/1997 360
600073271 MCCORD,ELIZABETH A 91896445 $476.95 09/01/1997 360
600073273 SCOTT,TINA L 91896054 $2,198.36 19 09/01/1997 360
600073274 WAID,MICHAEL R 91895998 $2,126.08 7 09/01/1997 360
600073276 STEINBERG,SCOTT H 91895119 $851.17 09/01/1997 360
600073277 POTTSJR,GROVER C 91894871 $1,788.55 09/01/1997 360
600073278 WEINBERGER,JACK L 91894339 $1,684.73 09/01/1997 360
600073280 GREENBERG,BRAD 91891653 $4,226.48 09/01/1997 360
600073282 HALBERT,STANLEY P 91890275 $2,201.29 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073236 KERN,KATHLEEN T 2.00 2.75 12.88 2.750 2.500 2.335 $104,900.00 N
600073237 MICHAELIS,THEODORE K 2.00 2.75 12.88 2.750 2.500 2.335 $186,000.00 N
600073238 NIXON,JOHN E 2.00 2.75 12.88 2.750 2.500 2.335 $140,000.00 N
600073244 GUZMAN,GEORGE 2.00 2.75 13.00 2.750 2.500 2.335 $260,000.00 N
600073245 STARKEY,DAN B 2.00 2.75 12.00 2.750 2.500 2.335 $1,200,000.00 N
600073269 DAVIS,JOHNNY R 2.00 2.75 13.00 2.750 2.500 2.335 $770,000.00 N
600073271 MCCORD,ELIZABETH A 2.00 2.75 13.00 2.750 2.500 2.335 $82,000.00 N
600073273 SCOTT,TINA L 2.00 2.75 13.00 2.750 2.500 2.335 $332,900.00 N
600073274 WAID,MICHAEL R 2.00 2.75 13.00 2.750 2.500 2.335 $305,000.00 N
600073276 STEINBERG,SCOTT H 2.00 2.75 13.00 2.750 2.500 2.335 $145,000.00 N
600073277 POTTSJR,GROVER C 2.00 2.75 13.00 2.750 2.500 2.335 $325,000.00 N
600073278 WEINBERGER,JACK L 2.00 2.75 13.00 2.750 2.500 2.335 $287,000.00 N
600073280 GREENBERG,BRAD 2.00 2.75 13.00 2.750 2.500 2.335 $720,000.00 N
600073282 HALBERT,STANLEY P 2.00 2.75 13.00 2.750 2.500 2.335 $500,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 67
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073283 WESLEY,LEONARD P 5932 KILLARNEY CIRCL SAN JOSE CA 95138 $281,421.20
600073284 GUAY,PATRICK W 31 JOSEPH RD SHREWSBURY MA 1545 $305,823.73
600073285 GANS,SUSAN J 274 WAUGH AVENUE SANTA CRUZ CA 95065 $311,537.11
600073286 HASTYJR.,JOHN R 3908 KEAL RUN WAY LOUISVILLE KY 40241 $236,477.70
600073287 GOLDSTEIN,ALLAN 5734 SOLEDAD ROAD LA JOLLA CA 92037 $360,032.09
600073288 MOWJEE,AFZAL R 2014 S BEECH WICHITA KS 67207 $93,077.67
600073289 TRUFFAUT,MICHELLE 1437 N MARTEL AVENUE LOS ANGELE CA 90046 $150,396.55
600073290 SINCLAIR,RITA D 4105 ANN ARBOR ROAD LAKEWOOD CA 90712 $309,073.50
600073291 FREEMAN,CYNTHIA E 6296 CRITTENDEN DRIV CINCINNATI OH 45244 $346,560.61
600073292 JOHNESE,DANIEL J 8260 FOX RIDGE ROAD PITTSBURGH PA 15237 $127,630.44
600073293 HUGGINS,DOUGLAS B 1703 FORD AVENUE REDONDO BE CA 90277 $286,446.28
600073294 ROCHE,JAMES P 302 N WISNER ST. PARK RIDGE IL 60068 $187,300.87
600073295 FULLER,GARRY L 6181 RITTMAN ROAD GIBSONIA PA 15044 $396,067.13
600073296 ZATRAPELEK,CHARLIE L 130 THORTON DRIVE PALM BEACH FL 33408 $248,968.63
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073283 WESLEY,LEONARD P 8.000 .250 7.750 .1650 7.585 08/01/2026
600073284 GUAY,PATRICK W 8.000 .250 7.750 .1650 7.585 09/01/2026
600073285 GANS,SUSAN J 8.000 .250 7.750 .1650 7.585 07/01/2026
600073286 HASTYJR.,JOHN R 8.000 .250 7.750 .1650 7.585 09/01/2026
600073287 GOLDSTEIN,ALLAN 8.000 .250 7.750 .1650 7.585 07/01/2026
600073288 MOWJEE,AFZAL R 8.000 .250 7.750 .1650 7.585 07/01/2026
600073289 TRUFFAUT,MICHELLE 8.000 .250 7.750 .1650 7.585 06/01/2026
600073290 SINCLAIR,RITA D 8.000 .250 7.750 .1650 7.585 06/01/2026
600073291 FREEMAN,CYNTHIA E 8.000 .250 7.750 .1650 7.585 07/01/2026
600073292 JOHNESE,DANIEL J 8.000 .250 7.750 .1650 7.585 08/01/2026
600073293 HUGGINS,DOUGLAS B 8.000 .250 7.750 .1650 7.585 06/01/2026
600073294 ROCHE,JAMES P 8.000 .250 7.750 .1650 7.585 07/01/2026
600073295 FULLER,GARRY L 8.000 .250 7.750 .1650 7.585 07/01/2026
600073296 ZATRAPELEK,CHARLIE L 8.000 .250 7.750 .1650 7.585 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073283 WESLEY,LEONARD P 91889000 $2,083.89 09/01/1997 360
600073284 GUAY,PATRICK W 91888564 $2,262.93 19 09/01/1997 360
600073285 GANS,SUSAN J 91888449 $2,318.70 09/01/1997 360
600073286 HASTYJR.,JOHN R 91888172 $1,750.03 1 09/01/1997 360
600073287 GOLDSTEIN,ALLAN 91887634 $2,670.90 09/01/1997 360
600073288 MOWJEE,AFZAL R 91887509 $689.74 19 09/01/1997 360
600073289 TRUFFAUT,MICHELLE 91887367 $1,115.33 09/01/1997 360
600073290 SINCLAIR,RITA D 91887303 $2,311.36 09/01/1997 360
600073291 FREEMAN,CYNTHIA E 91886974 $2,568.18 09/01/1997 360
600073292 JOHNESE,DANIEL J 91886896 $945.09 09/01/1997 360
600073293 HUGGINS,DOUGLAS B 91886113 $2,124.25 19 09/01/1997 360
600073294 ROCHE,JAMES P 91885326 $2,524.15 09/01/1997 360
600073295 FULLER,GARRY L 91885232 $2,935.06 09/01/1997 360
600073296 ZATRAPELEK,CHARLIE L 91885193 $1,843.58 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073283 WESLEY,LEONARD P 2.00 2.75 13.00 2.750 2.500 2.335 $409,000.00 N
600073284 GUAY,PATRICK W 2.00 2.75 13.00 2.750 2.500 2.335 $342,805.00 N
600073285 GANS,SUSAN J 2.00 2.75 13.00 2.750 2.500 2.335 $395,000.00 N
600073286 HASTYJR.,JOHN R 2.00 2.75 13.00 2.750 2.500 2.335 $265,000.00 N
600073287 GOLDSTEIN,ALLAN 2.00 2.75 13.00 2.750 2.500 2.335 $455,000.00 N
600073288 MOWJEE,AFZAL R 2.00 2.75 13.00 2.750 2.500 2.335 $109,000.00 N
600073289 TRUFFAUT,MICHELLE 2.00 2.75 13.00 2.750 2.500 2.335 $190,000.00 N
600073290 SINCLAIR,RITA D 2.00 2.75 13.00 2.750 2.500 2.335 $465,500.00 N
600073291 FREEMAN,CYNTHIA E 2.00 2.75 13.00 2.750 2.500 2.335 $437,500.00 N
600073292 JOHNESE,DANIEL J 2.00 2.75 13.00 2.750 2.500 2.335 $161,000.00 N
600073293 HUGGINS,DOUGLAS B 2.00 2.75 13.00 2.750 2.500 2.335 $322,000.00 N
600073294 ROCHE,JAMES P 2.00 2.75 13.00 2.750 2.500 2.335 $430,000.00 N
600073295 FULLER,GARRY L 2.00 2.75 13.00 2.750 2.500 2.335 $500,000.00 N
600073296 ZATRAPELEK,CHARLIE L 2.00 2.75 13.00 2.750 2.500 2.335 $335,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 68
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073297 COLLINS,TIMOTHY D 3419 BERRY AVE. CINCINNATI OH 45208 $294,336.29
600073299 TICHENOR,WILLIAM R 2980 AIKEN ROAD SHELBYVILL KY 40065 $316,624.49
600073300 HUDSON,LARSON D 562 BEECH CREEK ROA BRENTWOOD TN 37027 $218,776.78
600073301 JOHANSON,KARL G 9165 LOGANBERRY DRIV GILROY CA 95020 $235,950.68
600073303 BALLOU,RODGER M 712 FERRY STREET MARSHFIELD MA 2050 $252,415.03
600073305 MAMOULIDES,MITCH 2363 BEECH LANE PAMPA TX 79065 $115,481.35
600073307 KELLEY,DANIEL K 36 WAYSIDE ROAD WESTBOROUG MA 1581 $244,272.00
600073308 QUIST,KIRT D 18184 MEANDER DRIVE GRAYSLAKE IL 60030 $221,174.55
600073309 BROWN,ROBERT W 1834 W 28TH STREET LAWRENCE KS 66046 $34,110.49
600073310 HORNER,DAVID E 10201 SW53RD COURT COOPER CIT FL 33328 $111,526.50
600073311 STEIER,SHELDON M 1357 ROSCOMARE ROAD LOS ANGELE CA 90077 $474,222.83
600073312 D'AMATOJR,PHILLIP 1905 LIVONIA AVE LOS ANGELE CA 90034 $269,659.36
600073313 GREENE,WILLIAM J LOT 78 AARON LANE S INDIANA PA 15701 $168,600.41
600073314 KASS,IRA G 2307 S GOEBBERT ARLINGTON IL 60005 $70,557.50
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073297 COLLINS,TIMOTHY D 8.000 .250 7.750 .1650 7.585 07/01/2026
600073299 TICHENOR,WILLIAM R 8.000 .250 7.750 .1650 7.585 06/01/2026
600073300 HUDSON,LARSON D 8.000 .250 7.750 .1650 7.585 06/01/2026
600073301 JOHANSON,KARL G 8.000 .250 7.750 .1650 7.585 05/01/2026
600073303 BALLOU,RODGER M 8.000 .250 7.750 .1650 7.585 06/01/2026
600073305 MAMOULIDES,MITCH 8.000 .250 7.750 .1650 7.585 05/01/2026
600073307 KELLEY,DANIEL K 8.000 .250 7.750 .1650 7.585 06/01/2026
600073308 QUIST,KIRT D 8.000 .250 7.750 .1650 7.585 05/01/2026
600073309 BROWN,ROBERT W 8.000 .250 7.750 .1650 7.585 05/01/2026
600073310 HORNER,DAVID E 8.000 .250 7.750 .1650 7.585 05/01/2026
600073311 STEIER,SHELDON M 8.000 .250 7.750 .1650 7.585 04/01/2026
600073312 D'AMATOJR,PHILLIP 8.000 .250 7.750 .1650 7.585 11/01/2025
600073313 GREENE,WILLIAM J 8.000 .250 7.750 .1650 7.585 07/01/2026
600073314 KASS,IRA G 8.000 .250 7.750 .1650 7.585 10/01/2025
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073297 COLLINS,TIMOTHY D 91884808 $2,230.64 09/01/1997 360
600073299 TICHENOR,WILLIAM R 91882223 $2,348.05 09/01/1997 360
600073300 HUDSON,LARSON D 91882214 $1,624.55 19 09/01/1997 360
600073301 JOHANSON,KARL G 91881426 $1,751.13 1 09/01/1997 360
600073303 BALLOU,RODGER M 91881020 $1,882.11 19 09/01/1997 360
600073305 MAMOULIDES,MITCH 91880766 $857.04 09/01/1997 360
600073307 KELLEY,DANIEL K 91879945 $1,812.77 19 09/01/1997 360
600073308 QUIST,KIRT D 91877253 $1,641.43 19 09/01/1997 360
600073309 BROWN,ROBERT W 91875696 $253.15 09/01/1997 360
600073310 HORNER,DAVID E 91874077 $827.69 09/01/1997 360
600073311 STEIER,SHELDON M 91869553 $3,522.07 09/01/1997 360
600073312 D'AMATOJR,PHILLIP 91850433 $2,010.51 09/01/1997 360
600073313 GREENE,WILLIAM J 91843724 $1,251.07 1 09/01/1997 360
600073314 KASS,IRA G 91842440 $526.48 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073297 COLLINS,TIMOTHY D 2.00 2.75 13.00 2.750 2.500 2.335 $380,000.00 N
600073299 TICHENOR,WILLIAM R 2.00 2.75 13.00 2.750 2.500 2.335 $400,000.00 N
600073300 HUDSON,LARSON D 2.00 2.75 13.00 2.750 2.500 2.335 $246,000.00 N
600073301 JOHANSON,KARL G 2.00 2.75 13.00 2.750 2.500 2.335 $252,865.00 N
600073303 BALLOU,RODGER M 2.00 2.75 13.00 2.750 2.500 2.335 $285,000.00 N
600073305 MAMOULIDES,MITCH 2.00 2.75 13.00 2.750 2.500 2.335 $146,000.00 N
600073307 KELLEY,DANIEL K 2.00 2.75 13.00 2.750 2.500 2.335 $274,500.00 N
600073308 QUIST,KIRT D 2.00 2.75 13.00 2.750 2.500 2.335 $235,490.00 N
600073309 BROWN,ROBERT W 2.00 2.75 13.00 2.750 2.500 2.335 $88,000.00 N
600073310 HORNER,DAVID E 2.00 2.75 13.00 2.750 2.500 2.335 $141,000.00 N
600073311 STEIER,SHELDON M 2.00 2.75 13.00 2.750 2.500 2.335 $640,000.00 N
600073312 D'AMATOJR,PHILLIP 2.00 2.75 13.00 2.750 2.500 2.335 $375,000.00 N
600073313 GREENE,WILLIAM J 2.00 2.75 13.00 2.750 2.500 2.335 $205,000.00 N
600073314 KASS,IRA G 2.00 2.75 12.75 2.750 2.500 2.335 $89,695.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 69
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073315 HURTT,ELEANOR S 6948 CLARIDGE PLACE PITTSBURGH PA 15208 $98,260.07
600073316 REFAHI,MARYAM 1464 CORTEZ AVENUE BBURLENGAM CA 94810 $147,893.66
600073317 GARRELTS,NORMAN V BOX 2 ROUTE 2 TOWN OF OS NY 13669 $147,389.85
600073318 SEASONWEIN,ROBERT G 12516 EXCHANGE COURT POTOMAC MD 20854 $353,156.80
600073320 MCKNIGHT,ELMA 3 FREEMAN RD SOMERSET NJ 8873 $153,876.11
600073321 FOLKS,G. S 4011 LINDEN COURT FRANKLIN TN 37069 $112,466.78
600073322 KULOW,MARK W 6406 TORIBROOKE LANE MADISON WI 53711 $102,377.10
600073323 MCNALLY,RONALD K 435 WAYLAND ROAD CHERRY HIL NJ 8034 $124,771.89
600073329 BIALEK,STEVEN J 23258 PARK CORNICHE CALABASAS CA 91302 $458,884.32
600073330 ARDEN,JEFF S 26050 SALINGER LANE SANTA CLAR CA 91381 $247,911.49
600073331 ESCOBEDO,JOSEPH 832 ENGLISH WALNUT MORGAN HIL CA 95037 $450,604.04
600073334 EDWARDS,JOHN R 965 BRIGHTWATER CIR MAITLAND FL 32751 $351,776.42
600073335 AMON,ALLISON 2388 KENILWORTH AVEN LOS ANGELE CA 90039 $295,019.70
600073337 TYSOE,RONALD W 3198 CORTEZ ROAD PEBBLE BEA CA 93953 $495,823.22
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073315 HURTT,ELEANOR S 8.000 .250 7.750 .1650 7.585 09/01/2025
600073316 REFAHI,MARYAM 8.000 .250 7.750 .1650 7.585 09/01/2025
600073317 GARRELTS,NORMAN V 8.000 .250 7.750 .1650 7.585 09/01/2025
600073318 SEASONWEIN,ROBERT G 8.000 .250 7.750 .1650 7.585 07/01/2025
600073320 MCKNIGHT,ELMA 8.000 .250 7.750 .1650 7.585 07/01/2025
600073321 FOLKS,G. S 8.000 .250 7.750 .1650 7.585 10/01/2025
600073322 KULOW,MARK W 8.000 .250 7.750 .1650 7.585 08/01/2025
600073323 MCNALLY,RONALD K 8.000 .250 7.750 .1650 7.585 07/01/2025
600073329 BIALEK,STEVEN J 8.000 .250 7.750 .1650 7.585 09/01/2026
600073330 ARDEN,JEFF S 8.000 .250 7.750 .1650 7.585 09/01/2026
600073331 ESCOBEDO,JOSEPH 8.000 .250 7.750 .1650 7.585 09/01/2026
600073334 EDWARDS,JOHN R 8.000 .250 7.750 .1650 7.585 08/01/2026
600073335 AMON,ALLISON 8.000 .250 7.750 .1650 7.585 09/01/2026
600073337 TYSOE,RONALD W 8.000 .250 7.750 .1650 7.585 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073315 HURTT,ELEANOR S 91840140 $733.76 09/01/1997 360
600073316 REFAHI,MARYAM 91838941 $1,895.31 09/01/1997 360
600073317 GARRELTS,NORMAN V 91830815 $1,100.65 09/01/1997 360
600073318 SEASONWEIN,ROBERT G 91823400 $2,641.55 09/01/1997 360
600073320 MCKNIGHT,ELMA 91821332 $1,152.38 19 09/01/1997 360
600073321 FOLKS,G. S 91820575 $840.89 7 09/01/1997 360
600073322 KULOW,MARK W 91805426 $765.32 2 09/01/1997 360
600073323 MCNALLY,RONALD K 91801338 $933.35 2 09/01/1997 360
600073329 BIALEK,STEVEN J 92400400 $3,395.50 09/01/1997 360
600073330 ARDEN,JEFF S 92400012 $1,834.42 1 09/01/1997 360
600073331 ESCOBEDO,JOSEPH 91899380 $3,334.23 09/01/1997 360
600073334 EDWARDS,JOHN R 91897799 $2,604.87 09/01/1997 360
600073335 AMON,ALLISON 91897337 $2,201.29 09/01/1997 360
600073337 TYSOE,RONALD W 91895318 $3,668.82 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073315 HURTT,ELEANOR S 2.00 2.75 12.75 2.750 2.500 2.335 $195,000.00 N
600073316 REFAHI,MARYAM 2.00 2.75 12.75 2.750 2.500 2.335 $369,000.00 N
600073317 GARRELTS,NORMAN V 2.00 2.75 12.75 2.750 2.500 2.335 $200,000.00 N
600073318 SEASONWEIN,ROBERT G 2.00 2.75 13.13 2.750 2.500 2.335 $482,000.00 N
600073320 MCKNIGHT,ELMA 2.00 2.75 13.13 2.750 2.500 2.335 $175,000.00 N
600073321 FOLKS,G. S 2.00 2.75 12.75 2.750 2.500 2.335 $127,728.00 N
600073322 KULOW,MARK W 2.00 2.75 13.13 2.750 2.500 2.335 $109,865.00 N
600073323 MCNALLY,RONALD K 2.00 2.75 13.25 2.750 2.500 2.335 $133,900.00 N
600073329 BIALEK,STEVEN J 2.00 2.75 13.00 2.750 2.500 2.335 $617,000.00 N
600073330 ARDEN,JEFF S 2.00 2.75 13.00 2.750 2.500 2.335 $263,200.00 N
600073331 ESCOBEDO,JOSEPH 2.00 2.75 13.00 2.750 2.500 2.335 $568,000.00 N
600073334 EDWARDS,JOHN R 2.00 2.75 13.00 2.750 2.500 2.335 $443,900.00 N
600073335 AMON,ALLISON 2.00 2.75 13.00 2.750 2.500 2.335 $382,000.00 N
600073337 TYSOE,RONALD W 2.00 2.75 13.00 2.750 2.500 2.335 $1,200,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 70
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073340 BRACKETT,DAVID D 1413 PHEASANT DRIVE GILROY CA 95020 $232,865.30
600073351 GRAMBLEY,GARY A 8017 BOTTLEBRUSH DRI AUSTIN TX 78750 $205,764.50
600073355 CESKE,ROBERT J 75 CATERSON TERRAC HARTSDALE NY 10530 $287,625.69
600073356 PONDER,THOMAS B 45 PROSPECT STREET PARK CITY UT 84060 $264,222.64
600073357 REESMAN,ARTHUR L 1813 HOLLY STREET NASHVILLE TN 37206 $61,787.73
600073358 MARLEY,JARED 1609 SHEFFIELD ROAD OKLAHOMA C OK 73120 $45,152.54
600073359 BECK,JEFFREY D 1401 BRINTONS BRIDGE CHADDS FOR PA 19317 $297,493.97
600073360 O'NEILL,DANIEL 55 VAN ROSE DRIVE NORTH HAVE CT 6473 $97,137.51
600073361 DIAL,ELIZABETH B 781 AZALEA DR #31 ROCKVILLE MD 20850 $96,541.28
600073362 KREUTZ,RICHARD L 115 N LEE ST. #207 ALEXANDRIA VA 22314 $157,322.77
600073363 CISNEROS,GABRIEL 17 GAILOUR ROAD QUESTA NM 87556 $233,565.10
600073364 FREITAS,CHRIS J 491 NOEL STREET ARROYO GRA CA 93420 $259,825.34
600073365 HOWELL,LOUIS H 1407 JAYHAWK LANE LIVERMORE CA 94550 $233,757.96
600073366 CAVENDER,ANN J 6149 YEADON WAY SAN JOSE CA 95119 $255,624.30
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073340 BRACKETT,DAVID D 8.000 .250 7.750 .1650 7.585 09/01/2026
600073351 GRAMBLEY,GARY A 8.000 .250 7.750 .1650 7.585 08/01/2026
600073355 CESKE,ROBERT J 8.000 .250 7.750 .1650 7.585 09/01/2026
600073356 PONDER,THOMAS B 8.000 .250 7.750 .1650 7.585 08/01/2026
600073357 REESMAN,ARTHUR L 8.000 .250 7.750 .1650 7.585 07/01/2026
600073358 MARLEY,JARED 8.000 .250 7.750 .1650 7.585 07/01/2026
600073359 BECK,JEFFREY D 8.000 .250 7.750 .1650 7.585 09/01/2026
600073360 O'NEILL,DANIEL 8.000 .250 7.750 .1650 7.585 07/01/2026
600073361 DIAL,ELIZABETH B 8.000 .250 7.750 .1650 7.585 07/01/2026
600073362 KREUTZ,RICHARD L 8.000 .250 7.750 .1650 7.585 06/01/2026
600073363 CISNEROS,GABRIEL 8.000 .250 7.750 .1650 7.585 05/01/2026
600073364 FREITAS,CHRIS J 8.000 .250 7.750 .1650 7.585 07/01/2026
600073365 HOWELL,LOUIS H 8.000 .250 7.750 .1650 7.585 06/01/2026
600073366 CAVENDER,ANN J 8.000 .250 7.750 .1650 7.585 06/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073340 BRACKETT,DAVID D 92400439 $1,723.08 1 09/01/1997 360
600073351 GRAMBLEY,GARY A 91895528 $1,523.66 09/01/1997 360
600073355 CESKE,ROBERT J 91893558 $2,142.59 09/01/1997 360
600073356 PONDER,THOMAS B 91893258 $1,966.49 09/01/1997 360
600073357 REESMAN,ARTHUR L 91890038 $457.87 09/01/1997 360
600073358 MARLEY,JARED 91887940 $334.60 19 09/01/1997 360
600073359 BECK,JEFFREY D 91887935 $2,201.29 09/01/1997 360
600073360 O'NEILL,DANIEL 91886541 $719.82 19 09/01/1997 360
600073361 DIAL,ELIZABETH B 91886155 $715.42 09/01/1997 360
600073362 KREUTZ,RICHARD L 91884193 $1,166.69 09/01/1997 360
600073363 CISNEROS,GABRIEL 91882922 $1,733.52 09/01/1997 360
600073364 FREITAS,CHRIS J 91882916 $1,925.40 09/01/1997 360
600073365 HOWELL,LOUIS H 91880956 $1,733.52 2 09/01/1997 360
600073366 CAVENDER,ANN J 91877250 $1,895.69 14 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073340 BRACKETT,DAVID D 2.00 2.75 13.00 2.750 2.500 2.335 $247,187.00 N
600073351 GRAMBLEY,GARY A 2.00 2.75 13.00 2.750 2.500 2.335 $276,900.00 N
600073355 CESKE,ROBERT J 2.00 2.75 13.00 2.750 2.500 2.335 $365,000.00 N
600073356 PONDER,THOMAS B 2.00 2.75 13.00 2.750 2.500 2.335 $335,000.00 N
600073357 REESMAN,ARTHUR L 2.00 2.75 13.00 2.750 2.500 2.335 $78,000.00 N
600073358 MARLEY,JARED 2.00 2.75 13.00 2.750 2.500 2.335 $48,000.00 N
600073359 BECK,JEFFREY D 2.00 2.75 13.00 2.750 2.500 2.335 $620,000.00 N
600073360 O'NEILL,DANIEL 2.00 2.75 13.00 2.750 2.500 2.335 $109,000.00 N
600073361 DIAL,ELIZABETH B 2.00 2.75 13.00 2.750 2.500 2.335 $135,000.00 N
600073362 KREUTZ,RICHARD L 2.00 2.75 13.00 2.750 2.500 2.335 $238,000.00 N
600073363 CISNEROS,GABRIEL 2.00 2.75 13.00 2.750 2.500 2.335 $315,000.00 N
600073364 FREITAS,CHRIS J 2.00 2.75 13.00 2.750 2.500 2.335 $328,000.00 N
600073365 HOWELL,LOUIS H 2.00 2.75 13.00 2.750 2.500 2.335 $262,661.00 N
600073366 CAVENDER,ANN J 2.00 2.75 13.00 2.750 2.500 2.335 $271,990.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 71
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073368 THOMAS,MYRNA V 1255 PEARL STREET SAN DIEGO CA 92037 $243,820.96
600073379 LITTLETON,PETER D 2 COUNTRY GATES D WILMINGTON DE 19810 $247,962.87
600073380 BAKER,ROBERT A 813 BOAL AVENUE BOALSBURG PA 16827 $51,812.94
600073381 REGAN,DIANE E 257 UNDERWOOD STREE HOLLISTON MA 1746 $290,819.52
600073385 SCHWARTZ,ROBERT I 12 EASTOVER ROAD STAMFORD CT 6905 $351,855.34
600073387 SIMON,BRETT T 3833 MEADOWLARK LANE CINCINNATI OH 45227 $59,456.05
600073388 KERLIN,JUDY D 750 BARNEY AVENUE CINCINNATI OH 45215 $93,563.79
600073389 RUPOLO,RONALD J 7408 HILLSHIRE LANE IRVING TX 75063 $247,389.07
600073390 VISCARDI,GERALD P 16 WAYSIDE RD WESTBOROUG MA 1581 $234,076.95
600073391 BUDNICK,DEAN E 43 PLEASANT STREET HOPKINTON MA 1748 $126,667.98
600073392 LAZZARA,MICHAEL D 414 LINCOLN AVENUE ERIE PA 16505 $55,082.75
600073393 HERSHBERGER,LARRY J 1090 CHAPEL FORGE DR LANCASTER PA 17601 $167,005.25
600073394 ADAMS,ELDON D 10415 WALDO AVENUE BEACH PARK IL 60099 $93,216.88
600073395 ROSENDAHL,CARL O 1875 OAK AVENUE MENLO PARK CA 94025 $583,534.72
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073368 THOMAS,MYRNA V 8.125 .250 7.875 .1650 7.710 08/01/2026
600073379 LITTLETON,PETER D 8.125 .250 7.875 .1650 7.710 09/01/2026
600073380 BAKER,ROBERT A 8.125 .250 7.875 .1650 7.710 09/01/2026
600073381 REGAN,DIANE E 8.125 .250 7.875 .1650 7.710 08/01/2026
600073385 SCHWARTZ,ROBERT I 8.125 .250 7.875 .1650 7.710 08/01/2026
600073387 SIMON,BRETT T 8.125 .250 7.875 .1650 7.710 08/01/2026
600073388 KERLIN,JUDY D 8.125 .250 7.875 .1650 7.710 08/01/2026
600073389 RUPOLO,RONALD J 8.125 .250 7.875 .1650 7.710 08/01/2026
600073390 VISCARDI,GERALD P 8.125 .250 7.875 .1650 7.710 09/01/2026
600073391 BUDNICK,DEAN E 8.125 .250 7.875 .1650 7.710 08/01/2026
600073392 LAZZARA,MICHAEL D 8.125 .250 7.875 .1650 7.710 08/01/2026
600073393 HERSHBERGER,LARRY J 8.125 .250 7.875 .1650 7.710 08/01/2026
600073394 ADAMS,ELDON D 8.125 .250 7.875 .1650 7.710 08/01/2026
600073395 ROSENDAHL,CARL O 8.125 .250 7.875 .1650 7.710 08/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073368 THOMAS,MYRNA V 91896829 $1,826.54 09/01/1997 360
600073379 LITTLETON,PETER D 91897364 $1,856.24 09/01/1997 360
600073380 BAKER,ROBERT A 91897149 $389.81 09/01/1997 360
600073381 REGAN,DIANE E 91895907 $2,179.97 09/01/1997 360
600073385 SCHWARTZ,ROBERT I 91893617 $2,635.87 19 09/01/1997 360
600073387 SIMON,BRETT T 91892791 $445.50 09/01/1997 360
600073388 KERLIN,JUDY D 91892615 $700.92 09/01/1997 360
600073389 RUPOLO,RONALD J 91892446 $1,853.27 09/01/1997 360
600073390 VISCARDI,GERALD P 91892164 $1,752.29 09/01/1997 360
600073391 BUDNICK,DEAN E 91891388 $948.91 19 09/01/1997 360
600073392 LAZZARA,MICHAEL D 91890606 $412.64 1 09/01/1997 360
600073393 HERSHBERGER,LARRY J 91890074 $1,336.49 09/01/1997 360
600073394 ADAMS,ELDON D 91889797 $698.32 19 09/01/1997 360
600073395 ROSENDAHL,CARL O 91889287 $4,371.46 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073368 THOMAS,MYRNA V 2.00 2.75 13.13 2.750 2.500 2.335 $380,000.00 N
600073379 LITTLETON,PETER D 2.00 2.75 13.13 2.750 2.500 2.335 $315,000.00 N
600073380 BAKER,ROBERT A 2.00 2.75 13.13 2.750 2.500 2.335 $75,000.00 N
600073381 REGAN,DIANE E 2.00 2.75 13.13 2.750 2.500 2.335 $367,000.00 N
600073385 SCHWARTZ,ROBERT I 2.00 2.75 13.13 2.750 2.500 2.335 $395,000.00 N
600073387 SIMON,BRETT T 2.00 2.75 13.13 2.750 2.500 2.335 $80,000.00 N
600073388 KERLIN,JUDY D 2.00 2.75 13.13 2.750 2.500 2.335 $118,000.00 N
600073389 RUPOLO,RONALD J 2.00 2.75 13.13 2.750 2.500 2.335 $312,000.00 N
600073390 VISCARDI,GERALD P 2.00 2.75 13.13 2.750 2.500 2.335 $295,000.00 N
600073391 BUDNICK,DEAN E 2.00 2.75 13.13 2.750 2.500 2.335 $142,000.00 N
600073392 LAZZARA,MICHAEL D 2.00 2.75 13.13 2.750 2.500 2.335 $58,500.00 N
600073393 HERSHBERGER,LARRY J 2.00 2.75 13.13 2.750 2.500 2.335 $285,000.00 N
600073394 ADAMS,ELDON D 2.00 2.75 13.13 2.750 2.500 2.335 $99,000.00 N
600073395 ROSENDAHL,CARL O 2.00 2.75 13.13 2.750 2.500 2.335 $785,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 72
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073396 SIRIO,CARL A 50 QUAIL HILL ROAD PITTSBURGH PA 15238 $569,312.03
600073397 HOLMES,R. C 1442 CULPEPPER NAPERVILLE IL 60565 $200,706.22
600073398 TRAN,KIET T 278 BARTMOUTH AVENU SAN CARLOS CA 94070 $269,200.29
600073399 ASWADHATI,AJOY 1674 QUAIL AVENUE SUNNYVALE CA 94087 $270,991.08
600073400 HEINDEL,TROY A 257 LAKEVIEW AVENUE CAMBRIDGE MA 2138 $383,295.66
600073401 GRAMKOW,THEODORE W 22 GREENWOOD COURT ORINDA CA 94563 $423,595.40
600073402 ITIN,TIMOTHY S 421 WOODLAND ROAD KENTFIELD CA 94904 $544,339.97
600073403 DAVIES,JEREMY R 36 CINNAMON LANE RANCHO PAL CA 90275 $437,625.89
600073404 BARNER,LESLIE A 20 LORING AVENUE MILL VALLE CA 94941 $296,695.57
600073405 HURLEY,MILDRED F 120 MERWINS LANE FAIRFIELD CT 6430 $346,398.14
600073406 OAT,WILLIAM A 210 E VINEYARD CT. CAPE MAY NJ 8204 $120,249.70
600073407 BERLIANT,JENNIE R 3040 WOLD CINCINNATI OH 45206 $450,515.48
600073408 FARBER,JACOBO 1815 COUNTRY CLUB DR CHERRY HIL NJ 8003 $302,115.87
600073410 DRAGINOFF,CARL J 8194 HAMILTON MASON WESTCHESTE OH 45069 $137,774.55
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073396 SIRIO,CARL A 8.125 .250 7.875 .1650 7.710 08/01/2026
600073397 HOLMES,R. C 8.125 .250 7.875 .1650 7.710 08/01/2026
600073398 TRAN,KIET T 8.125 .250 7.875 .1650 7.710 06/01/2026
600073399 ASWADHATI,AJOY 8.125 .250 7.875 .1650 7.710 07/01/2026
600073400 HEINDEL,TROY A 8.125 .250 7.875 .1650 7.710 07/01/2026
600073401 GRAMKOW,THEODORE W 8.125 .250 7.875 .1650 7.710 06/01/2026
600073402 ITIN,TIMOTHY S 8.125 .250 7.875 .1650 7.710 06/01/2026
600073403 DAVIES,JEREMY R 8.125 .250 7.875 .1650 7.710 05/01/2026
600073404 BARNER,LESLIE A 8.125 .250 7.875 .1650 7.710 05/01/2026
600073405 HURLEY,MILDRED F 8.125 .250 7.875 .1650 7.710 06/01/2026
600073406 OAT,WILLIAM A 8.125 .250 7.875 .1650 7.710 06/01/2026
600073407 BERLIANT,JENNIE R 8.125 .250 7.875 .1650 7.710 06/01/2026
600073408 FARBER,JACOBO 8.125 .250 7.875 .1650 7.710 06/01/2026
600073410 DRAGINOFF,CARL J 8.125 .250 7.875 .1650 7.710 07/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073396 SIRIO,CARL A 91889203 $4,264.90 09/01/1997 360
600073397 HOLMES,R. C 91888504 $1,503.56 19 09/01/1997 360
600073398 TRAN,KIET T 91887268 $2,019.60 09/01/1997 360
600073399 ASWADHATI,AJOY 91886682 $2,043.35 09/01/1997 360
600073400 HEINDEL,TROY A 91884799 $2,873.46 19 09/01/1997 360
600073401 GRAMKOW,THEODORE W 91884404 $3,177.89 09/01/1997 360
600073402 ITIN,TIMOTHY S 91883663 $4,083.73 09/01/1997 360
600073403 DAVIES,JEREMY R 91882667 $3,285.55 09/01/1997 360
600073404 BARNER,LESLIE A 91881385 $2,227.49 09/01/1997 360
600073405 HURLEY,MILDRED F 91881296 $2,598.74 09/01/1997 360
600073406 OAT,WILLIAM A 91879191 $902.13 19 09/01/1997 360
600073407 BERLIANT,JENNIE R 91878729 $3,379.85 09/01/1997 360
600073408 FARBER,JACOBO 91876589 $2,316.59 09/01/1997 360
600073410 DRAGINOFF,CARL J 91826690 $1,039.50 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073396 SIRIO,CARL A 2.00 2.75 13.13 2.750 2.500 2.335 $718,000.00 N
600073397 HOLMES,R. C 2.00 2.75 13.13 2.750 2.500 2.335 $225,000.00 N
600073398 TRAN,KIET T 2.00 2.75 13.13 2.750 2.500 2.335 $340,000.00 N
600073399 ASWADHATI,AJOY 2.00 2.75 13.13 2.750 2.500 2.335 $344,000.00 N
600073400 HEINDEL,TROY A 2.00 2.75 13.13 2.750 2.500 2.335 $430,000.00 N
600073401 GRAMKOW,THEODORE W 2.00 2.75 13.13 2.750 2.500 2.335 $535,000.00 N
600073402 ITIN,TIMOTHY S 2.00 2.75 13.13 2.750 2.500 2.335 $720,000.00 N
600073403 DAVIES,JEREMY R 2.00 2.75 13.13 2.750 2.500 2.335 $590,000.00 N
600073404 BARNER,LESLIE A 2.00 2.75 13.13 2.750 2.500 2.335 $375,000.00 N
600073405 HURLEY,MILDRED F 2.00 2.75 13.13 2.750 2.500 2.335 $540,000.00 N
600073406 OAT,WILLIAM A 2.00 2.75 13.13 2.750 2.500 2.335 $135,000.00 N
600073407 BERLIANT,JENNIE R 2.00 2.75 13.13 2.750 2.500 2.335 $569,000.00 N
600073408 FARBER,JACOBO 2.00 2.75 13.13 2.750 2.500 2.335 $440,000.00 N
600073410 DRAGINOFF,CARL J 2.00 2.75 13.13 2.750 2.500 2.335 $237,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 73
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073411 MENGES,DYLAN J 377 MITHOFF ST COLUMBUS OH 43206 $39,778.44
600073413 MUSTACHIO,TINA A 146 HUNTER AVENUE FANWOOD NJ 7023 $170,039.91
600073420 ADEY,KARL P 55 MOUNTAINSIDE RO MENDHAM TO NJ 7945 $292,017.29
600073421 ZUREICH,DON N 504 N SHORE DRIVE SNEADS FER NC 28460 $218,207.31
600073422 PUGLIESE,PAUL 1000 US 1 #728 JUPITER FL 33477 $247,962.86
600073424 SMITH,WOODROW D 3051 GERTRUDE AVENUE LA CRESCEN CA 91214 $231,927.26
600073426 SHIELDJR,ROBERT J 1735 ALRAY DRIVE CONCORD CA 94519 $241,045.63
600073429 GROCHOLSKI,WLODZIMIERZ 6783 SW104 STREET MIAMI FL 33156 $347,147.84
600073436 LANE,WILLIAM A 6930 GRANADA BLVD CORAL GABL FL 33146 $498,405.26
600073437 SCHMIDT,JEROME C 1209 HIDDEN RIDGE TOLEDO OH 43615 $69,379.93
600073438 STANISLAWSKI,TIMOTHY P 1621 CARLSON LANE REDONDO BE CA 90878 $261,947.86
600073439 MCGRAW,DONALD J JEFFER SON SCHOOL ROAD LIGONIER PA 15658 $317,392.44
600073440 WILEY,SHANE 12015 AVONETTE COURT SAN DIEGO CA 92131 $292,039.94
600073441 SMITH,PETER L 108 N AVENIDA MELISEN SAN DIMAS CA 91773 $344,418.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073411 MENGES,DYLAN J 8.125 .250 7.875 .1650 7.710 07/01/2025
600073413 MUSTACHIO,TINA A 8.125 .250 7.875 .1650 7.710 07/01/2025
600073420 ADEY,KARL P 8.125 .250 7.875 .1650 7.710 09/01/2026
600073421 ZUREICH,DON N 8.125 .250 7.875 .1650 7.710 09/01/2026
600073422 PUGLIESE,PAUL 8.125 .250 7.875 .1650 7.710 09/01/2026
600073424 SMITH,WOODROW D 8.125 .250 7.875 .1650 7.710 08/01/2026
600073426 SHIELDJR,ROBERT J 8.125 .250 7.875 .1650 7.710 08/01/2026
600073429 GROCHOLSKI,WLODZIMIERZ 8.125 .250 7.875 .1650 7.710 09/01/2026
600073436 LANE,WILLIAM A 8.125 .250 7.875 .1650 7.710 09/01/2026
600073437 SCHMIDT,JEROME C 8.125 .250 7.875 .1650 7.710 08/01/2026
600073438 STANISLAWSKI,TIMOTHY P 8.125 .250 7.875 .1650 7.710 08/01/2026
600073439 MCGRAW,DONALD J 8.125 .250 7.875 .1650 7.710 09/01/2026
600073440 WILEY,SHANE 8.125 .250 7.875 .1650 7.710 08/01/2026
600073441 SMITH,PETER L 8.125 .250 7.875 .1650 7.710 06/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073411 MENGES,DYLAN J 91818328 $301.83 09/01/1997 360
600073413 MUSTACHIO,TINA A 91812496 $1,286.38 2 09/01/1997 360
600073420 ADEY,KARL P 91899865 $2,186.65 19 09/01/1997 360
600073421 ZUREICH,DON N 91899650 $1,633.49 09/01/1997 360
600073422 PUGLIESE,PAUL 91899008 $1,856.24 09/01/1997 360
600073424 SMITH,WOODROW D 91896629 $1,737.44 19 09/01/1997 360
600073426 SHIELDJR,ROBERT J 91895964 $1,805.76 19 09/01/1997 360
600073429 GROCHOLSKI,WLODZIMIERZ 92401875 $2,598.75 09/01/1997 360
600073436 LANE,WILLIAM A 92401879 $3,731.05 09/01/1997 360
600073437 SCHMIDT,JEROME C 91894352 $519.75 09/01/1997 360
600073438 STANISLAWSKI,TIMOTHY P 91893296 $1,967.62 19 09/01/1997 360
600073439 MCGRAW,DONALD J 91892694 $2,375.99 09/01/1997 360
600073440 WILEY,SHANE 91889748 $2,187.77 1 09/01/1997 360
600073441 SMITH,PETER L 91887418 $2,583.90 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073411 MENGES,DYLAN J 2.00 2.75 13.13 2.750 2.500 2.335 $50,850.00 N
600073413 MUSTACHIO,TINA A 2.00 2.75 13.13 2.750 2.500 2.335 $192,500.00 N
600073420 ADEY,KARL P 2.00 2.75 13.13 2.750 2.500 2.335 $310,000.00 N
600073421 ZUREICH,DON N 2.00 2.75 13.13 2.750 2.500 2.335 $276,000.00 N
600073422 PUGLIESE,PAUL 2.00 2.75 13.13 2.750 2.500 2.335 $315,000.00 N
600073424 SMITH,WOODROW D 2.00 2.75 13.13 2.750 2.500 2.335 $260,000.00 N
600073426 SHIELDJR,ROBERT J 2.00 2.75 13.13 2.750 2.500 2.335 $256,000.00 N
600073429 GROCHOLSKI,WLODZIMIERZ 2.00 2.75 13.13 2.750 2.500 2.335 $550,000.00 N
600073436 LANE,WILLIAM A 2.00 2.75 13.13 2.750 2.500 2.335 $750,000.00 N
600073437 SCHMIDT,JEROME C 2.00 2.75 13.13 2.750 2.500 2.335 $87,500.00 N
600073438 STANISLAWSKI,TIMOTHY P 2.00 2.75 13.13 2.750 2.500 2.335 $295,000.00 N
600073439 MCGRAW,DONALD J 2.00 2.75 13.13 2.750 2.500 2.335 $400,000.00 N
600073440 WILEY,SHANE 2.00 2.75 13.13 2.750 2.500 2.335 $310,207.00 N
600073441 SMITH,PETER L 2.00 2.75 13.13 2.750 2.500 2.335 $435,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 74
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073442 WHITEHURST,E R 1012 KILDONAN DRIVE GLENDALE CA 91207 $424,208.74
600073443 CLUNE,WILLIAM E 43932 EL LUCERO PLACE TEMECULA CA 92592 $318,686.14
600073444 DOLINAR,MICHAEL E 3 BALSAM LANE SAN RAMON CA 94583 $262,124.48
600073445 LAVERY,MICHAEL B 6345 SNOWBERRY LANE NIWOT CO 80503 $297,036.78
600073446 YUMEN,JAMES E 5956 LISKA LANE SAN JOSE CA 95119 $235,105.21
600073447 DURAN,GILBERT 1749 MAYFLOWER COURT MOUNTAIN V CA 94040 $282,066.99
600073448 MOUNTFORD,STEVEN C 150 HARVEST CIRCLE OREGON WI 53575 $98,435.01
600073449 HENRY,BRIAN C 5508 CHESTNUT LANE MCFARLAND WI 53558 $133,804.17
600073450 BERNETT,J. S RT 331 BRUSH RUN R WASHINGTON PA 15301 $182,370.19
600073454 BARICH,GEORGE 1464 EDGEHILL LANE REDLANDS CA 92373 $243,548.74
600073457 DONALDSON,ROD B 26 TALL TREE DRIVE CAMP HILL PA 17011 $134,919.08
600073458 MCCOY,KEN J 202 BRECKENRIDGE DR WILMINGTON DE 19808 $216,314.45
600073459 DRUMMER,KENNETH W 8 GREENSBURGH LAN SAN ANSELM CA 94960 $594,815.75
600073461 SCHUHL,WILLIAM F 400 CORAL AVENUE BORO OF CA NJ 8212 $212,820.52
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073442 WHITEHURST,E R 8.125 .250 7.875 .1650 7.710 08/01/2026
600073443 CLUNE,WILLIAM E 8.125 .250 7.875 .1650 7.710 06/01/2026
600073444 DOLINAR,MICHAEL E 8.125 .250 7.875 .1650 7.710 06/01/2026
600073445 LAVERY,MICHAEL B 8.125 .250 7.875 .1650 7.710 07/01/2026
600073446 YUMEN,JAMES E 8.125 .250 7.875 .1650 7.710 06/01/2026
600073447 DURAN,GILBERT 8.125 .250 7.875 .1650 7.710 06/01/2026
600073448 MOUNTFORD,STEVEN C 8.125 .250 7.875 .1650 7.710 08/01/2026
600073449 HENRY,BRIAN C 8.125 .250 7.875 .1650 7.710 08/01/2026
600073450 BERNETT,J. S 8.125 .250 7.875 .1650 7.710 08/01/2026
600073454 BARICH,GEORGE 8.250 .250 8.000 .1650 7.835 09/01/2026
600073457 DONALDSON,ROD B 8.250 .250 8.000 .1650 7.835 09/01/2026
600073458 MCCOY,KEN J 8.250 .250 8.000 .1650 7.835 09/01/2026
600073459 DRUMMER,KENNETH W 8.250 .250 8.000 .1650 7.835 08/01/2026
600073461 SCHUHL,WILLIAM F 8.250 .250 8.000 .1650 7.835 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073442 WHITEHURST,E R 91885976 $3,177.89 09/01/1997 360
600073443 CLUNE,WILLIAM E 91884171 $2,390.85 09/01/1997 360
600073444 DOLINAR,MICHAEL E 91884138 $1,966.50 1 09/01/1997 360
600073445 LAVERY,MICHAEL B 91883749 $2,227.49 09/01/1997 360
600073446 YUMEN,JAMES E 91881183 $1,763.81 14 09/01/1997 360
600073447 DURAN,GILBERT 91879987 $2,116.12 09/01/1997 360
600073448 MOUNTFORD,STEVEN C 91878533 $742.50 09/01/1997 360
600073449 HENRY,BRIAN C 91877543 $1,002.37 09/01/1997 360
600073450 BERNETT,J. S 91861530 $1,366.19 09/01/1997 360
600073454 BARICH,GEORGE 91896934 $1,844.36 09/01/1997 360
600073457 DONALDSON,ROD B 91897063 $1,021.72 09/01/1997 360
600073458 MCCOY,KEN J 91895195 $1,639.26 19 09/01/1997 360
600073459 DRUMMER,KENNETH W 91894796 $4,507.60 09/01/1997 360
600073461 SCHUHL,WILLIAM F 91894335 $1,652.79 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073442 WHITEHURST,E R 2.00 2.75 13.13 2.750 2.500 2.335 $535,000.00 N
600073443 CLUNE,WILLIAM E 2.00 2.75 13.13 2.750 2.500 2.335 $525,000.00 N
600073444 DOLINAR,MICHAEL E 2.00 2.75 13.13 2.750 2.500 2.335 $294,279.00 N
600073445 LAVERY,MICHAEL B 2.00 2.75 13.13 2.750 2.500 2.335 $1,100,000.00 N
600073446 YUMEN,JAMES E 2.00 2.75 13.13 2.750 2.500 2.335 $250,115.00 N
600073447 DURAN,GILBERT 2.00 2.75 13.13 2.750 2.500 2.335 $370,000.00 N
600073448 MOUNTFORD,STEVEN C 2.00 2.75 13.13 2.750 2.500 2.335 $146,260.00 N
600073449 HENRY,BRIAN C 2.00 2.75 13.13 2.750 2.500 2.335 $205,000.00 N
600073450 BERNETT,J. S 2.00 2.75 13.13 2.750 2.500 2.335 $410,000.00 N
600073454 BARICH,GEORGE 2.00 2.75 13.25 2.750 2.500 2.335 $360,000.00 N
600073457 DONALDSON,ROD B 2.00 2.75 13.25 2.750 2.500 2.335 $170,000.00 N
600073458 MCCOY,KEN J 2.00 2.75 13.25 2.750 2.500 2.335 $229,728.00 N
600073459 DRUMMER,KENNETH W 2.00 2.75 13.25 2.750 2.500 2.335 $750,000.00 N
600073461 SCHUHL,WILLIAM F 2.00 2.75 13.25 2.750 2.500 2.335 $247,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 75
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073462 HUANG,BOR-FUEI 606 N ATHERTON ST. STATE COLL PA 16803 $93,584.29
600073463 NIEDERMAYER,SCOTT R 32 PROSPECT AVENUE MONTCLAIR NJ 7042 $321,135.50
600073464 HATHAWAY,PAULA J 10518 POT SPRING ROAD COCKEYSVIL MD 21030 $213,291.21
600073465 GRAZIANI,JOEL F 5043 CARLISLE COURT ANN ARBOR MI 48483 $237,926.32
600073466 DORIN,CHRISTOPHER P 1116 LONGFORD BARTLETT IL 60103 $108,553.83
600073467 SHAPPELL,JOHN R 1111 FAIRVIEW LANE RIVIERA BE FL 33404 $198,185.51
600073468 KALMANSON,MENACHEM M 7256 LAUREL OAK LANE CINCINNATI OH 45237 $198,271.97
600073469 GEIER,RICHARD E 1033 ADAMS ROAD LOVELAND OH 45140 $297,000.59
600073470 SKLAR,STEVEN E 5744 S FLORENCE STREET ENGLEWOOD CO 80111 $240,929.13
600073471 EDGAR,LINCOLN S 28 TYSON COURT DANVILLE CA 94526 $364,563.47
600073472 CASEY,CATHERINE S 5118 PALMERA DRIVE OCEANSIDE CA 92056 $230,462.85
600073473 MANKOWICH,JOHN I 43 HINMAN LANE WES SOUTHBURY CT 6433 $247,490.11
600073474 MORROW,WILLIAM D 2527 ALTA VISTA DRIV NEWPORT BE CA 92660 $762,269.79
600073475 O'NEILL,DANIEL 6987 BLUE ORCHID LAN CARLSBAD CA 92009 $296,776.15
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073462 HUANG,BOR-FUEI 8.250 .250 8.000 .1650 7.835 08/01/2026
600073463 NIEDERMAYER,SCOTT R 8.250 .250 8.000 .1650 7.835 08/01/2026
600073464 HATHAWAY,PAULA J 8.250 .250 8.000 .1650 7.835 09/01/2026
600073465 GRAZIANI,JOEL F 8.250 .250 8.000 .1650 7.835 08/01/2026
600073466 DORIN,CHRISTOPHER P 8.250 .250 8.000 .1650 7.835 08/01/2026
600073467 SHAPPELL,JOHN R 8.250 .250 8.000 .1650 7.835 08/01/2026
600073468 KALMANSON,MENACHEM M 8.250 .250 8.000 .1650 7.835 08/01/2026
600073469 GEIER,RICHARD E 8.250 .250 8.000 .1650 7.835 07/01/2026
600073470 SKLAR,STEVEN E 8.250 .250 8.000 .1650 7.835 07/01/2026
600073471 EDGAR,LINCOLN S 8.250 .250 8.000 .1650 7.835 07/01/2026
600073472 CASEY,CATHERINE S 8.250 .250 8.000 .1650 7.835 06/01/2026
600073473 MANKOWICH,JOHN I 8.250 .250 8.000 .1650 7.835 06/01/2026
600073474 MORROW,WILLIAM D 8.250 .250 8.000 .1650 7.835 06/01/2026
600073475 O'NEILL,DANIEL 8.250 .250 8.000 .1650 7.835 05/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073462 HUANG,BOR-FUEI 91894182 $709.20 09/01/1997 360
600073463 NIEDERMAYER,SCOTT R 91893844 $2,441.62 09/01/1997 360
600073464 HATHAWAY,PAULA J 91893557 $1,615.22 09/01/1997 360
600073465 GRAZIANI,JOEL F 91892801 $1,803.04 09/01/1997 360
600073466 DORIN,CHRISTOPHER P 91892184 $822.64 2 09/01/1997 360
600073467 SHAPPELL,JOHN R 91891031 $1,577.66 09/01/1997 360
600073468 KALMANSON,MENACHEM M 91890528 $1,502.53 09/01/1997 360
600073469 GEIER,RICHARD E 91889646 $2,252.30 09/01/1997 360
600073470 SKLAR,STEVEN E 91889366 $1,827.08 2 09/01/1997 360
600073471 EDGAR,LINCOLN S 91887836 $2,764.66 09/01/1997 360
600073472 CASEY,CATHERINE S 91884406 $1,748.95 1 09/01/1997 360
600073473 MANKOWICH,JOHN I 91882026 $1,878.17 09/01/1997 360
600073474 MORROW,WILLIAM D 91880079 $5,784.75 09/01/1997 360
600073475 O'NEILL,DANIEL 91879758 $2,253.80 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073462 HUANG,BOR-FUEI 2.00 2.75 13.25 2.750 2.500 2.335 $118,000.00 N
600073463 NIEDERMAYER,SCOTT R 2.00 2.75 13.25 2.750 2.500 2.335 $468,750.00 N
600073464 HATHAWAY,PAULA J 2.00 2.75 13.25 2.750 2.500 2.335 $500,000.00 N
600073465 GRAZIANI,JOEL F 2.00 2.75 13.25 2.750 2.500 2.335 $350,000.00 N
600073466 DORIN,CHRISTOPHER P 2.00 2.75 13.25 2.750 2.500 2.335 $124,500.00 N
600073467 SHAPPELL,JOHN R 2.00 2.75 13.25 2.750 2.500 2.335 $305,000.00 N
600073468 KALMANSON,MENACHEM M 2.00 2.75 13.25 2.750 2.500 2.335 $255,000.00 N
600073469 GEIER,RICHARD E 2.00 2.75 13.25 2.750 2.500 2.335 $374,750.00 N
600073470 SKLAR,STEVEN E 2.00 2.75 13.25 2.750 2.500 2.335 $256,000.00 N
600073471 EDGAR,LINCOLN S 2.00 2.75 13.25 2.750 2.500 2.335 $460,000.00 N
600073472 CASEY,CATHERINE S 2.00 2.75 13.25 2.750 2.500 2.335 $245,102.00 N
600073473 MANKOWICH,JOHN I 2.00 2.75 13.25 2.750 2.500 2.335 $380,000.00 N
600073474 MORROW,WILLIAM D 2.00 2.75 13.25 2.750 2.500 2.335 $1,100,000.00 N
600073475 O'NEILL,DANIEL 2.00 2.75 13.25 2.750 2.500 2.335 $400,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 76
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073476 MUNDY,KIMBO B 20 COLBURN RD WELLESLEY MA 2181 $399,944.06
600073477 VERNON,ROBERT P 808 W COLLEGE AVENUE STATE COLL PA 16801 $78,553.24
600073478 LAM,PHILIP C 7087 BRIGHTWATERS CO HAMILTON OH 45011 $185,287.23
600073479 SAWCZUK,GAIL E 3 BLACKBERRY LANE READINGTON NJ 8889 $134,266.27
600073481 LINDSAY,MARK H 950 BUTTERFIELD ROA SAN ANSELM CA 94960 $416,661.82
600073489 CAMPBELL,BARBARA 17125 HART STREET VAN NUYS CA 91406 $228,012.74
600073493 STERMAN,BURTON N 4152 FALLING LEAF DR ENCINO CA 91316 $594,815.75
600073494 BUCHANAN,KENNETH J 1557 TRIMINGHAM DRIV PLEASANTON CA 94566 $223,335.09
600073495 DARE,GERALD L 276 OAKWOOD CIRCLE MARTINEZ CA 94553 $241,005.90
600073496 HOWE,STEVE R ARROWH EAD CONDOMINIUM BIG SKY MT 59716 $225,871.03
600073497 MARTINEZ,ROBERT A 6758 MILNER ROAD LOS ANGELE CA 90068 $260,557.54
600073498 BECKETT,MARK D 11 LOOMARWICK ROAD NEW PRESTO CT 6777 $290,175.25
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073476 MUNDY,KIMBO B 8.250 .250 8.000 .1650 7.835 06/01/2026
600073477 VERNON,ROBERT P 8.250 .250 8.000 .1650 7.835 07/01/2025
600073478 LAM,PHILIP C 8.250 .250 8.000 .1650 7.835 07/01/2025
600073479 SAWCZUK,GAIL E 8.250 .250 8.000 .1650 7.835 07/01/2025
600073481 LINDSAY,MARK H 8.250 .250 8.000 .1650 7.835 09/01/2026
600073489 CAMPBELL,BARBARA 8.250 .250 8.000 .1650 7.835 08/01/2026
600073493 STERMAN,BURTON N 8.250 .250 8.000 .1650 7.835 08/01/2026
600073494 BUCHANAN,KENNETH J 8.250 .250 8.000 .1650 7.835 06/01/2026
600073495 DARE,GERALD L 8.250 .250 8.000 .1650 7.835 06/01/2026
600073496 HOWE,STEVE R 8.250 .250 8.000 .1650 7.835 07/01/2026
600073497 MARTINEZ,ROBERT A 8.250 .250 8.000 .1650 7.835 06/01/2026
600073498 BECKETT,MARK D 8.250 .250 8.000 .1650 7.835 09/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073476 MUNDY,KIMBO B 91867133 $3,035.12 09/01/1997 360
600073477 VERNON,ROBERT P 91818037 $601.01 09/01/1997 360
600073478 LAM,PHILIP C 91817905 $1,417.64 09/01/1997 360
600073479 SAWCZUK,GAIL E 91817204 $1,027.36 09/01/1997 360
600073481 LINDSAY,MARK H 91898533 $3,155.32 09/01/1997 360
600073489 CAMPBELL,BARBARA 91895951 $1,727.91 09/01/1997 360
600073493 STERMAN,BURTON N 91886720 $4,507.60 09/01/1997 360
600073494 BUCHANAN,KENNETH J 91885963 $1,694.86 19 09/01/1997 360
600073495 DARE,GERALD L 91884675 $1,828.96 2 09/01/1997 360
600073496 HOWE,STEVE R 91882955 $1,712.89 09/01/1997 360
600073497 MARTINEZ,ROBERT A 91880131 $1,977.34 09/01/1997 360
600073498 BECKETT,MARK D 91878555 $2,197.45 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073476 MUNDY,KIMBO B 2.00 2.75 13.25 2.750 2.500 2.335 $505,000.00 N
600073477 VERNON,ROBERT P 2.00 2.75 13.13 2.750 2.500 2.335 $165,000.00 N
600073478 LAM,PHILIP C 2.00 2.75 13.13 2.750 2.500 2.335 $235,900.00 N
600073479 SAWCZUK,GAIL E 2.00 2.75 13.13 2.750 2.500 2.335 $266,750.00 N
600073481 LINDSAY,MARK H 2.00 2.75 13.25 2.750 2.500 2.335 $525,000.00 N
600073489 CAMPBELL,BARBARA 2.00 2.75 13.25 2.750 2.500 2.335 $287,500.00 N
600073493 STERMAN,BURTON N 2.00 2.75 13.25 2.750 2.500 2.335 $750,000.00 N
600073494 BUCHANAN,KENNETH J 2.00 2.75 13.25 2.750 2.500 2.335 $237,500.00 N
600073495 DARE,GERALD L 2.00 2.75 13.25 2.750 2.500 2.335 $270,513.00 N
600073496 HOWE,STEVE R 2.00 2.75 13.25 2.750 2.500 2.335 $285,000.00 N
600073497 MARTINEZ,ROBERT A 2.00 2.75 13.25 2.750 2.500 2.335 $329,000.00 N
600073498 BECKETT,MARK D 2.00 2.75 13.25 2.750 2.500 2.335 $325,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 77
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:16:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3718 POOL NAME: 1997-6 Grp I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
<TABLE>
<CAPTION>
LOAN # OF CURRENT PROPERTY ORIG LOAN
COUNT BUYDOWN BALANCE VALUE AMOUNT P & I
** POOL ----- ------- ------- --------- --------- -----
<S> <C> <C> <C> <C> <C> <C>
** TOTAL 1062 0 285,686,562.65 405,669,228.03 292,582,698.50 2,031,445.61
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600070988 DOLAN,FRANK P 303 HAMBLEDON WALK ALPHARETTA GA 30202 $274,561.25
600070989 NEPPL,JEFFREY A 1157 AVONLEA CIRCLE GLEN MILLS PA 19342 $308,812.04
600070991 LIST,GARY C 5737 CAPILANO DRIVE SAN JOSE CA 95138 $423,201.75
600070992 ROBERTS,DEAN 438 EAGLE DRIVE NAZARETH PA 18064 $250,848.55
600070993 ALLEN,DAVID M 980 S FILLMORE WAY DENVER CO 80209 $222,702.76
600070994 SCHEPP,DOUGLAS E 2613 BIERSTADT DR. HIGHLAND V TX 75067 $261,201.00
600070995 M.MASELES,DANITA J 4304 TURKEY CREEK DR AUSTIN TX 78730 $255,278.20
600070996 GOLD,JEFFREY S 4 RIVER RUN EAST GREEN RI 2818 $234,432.54
600070997 PAVLECICH,JOHN E 6805 HARD SCRABBLE C WILMINGTON NC 28409 $280,583.65
600070998 HARTMAN,BRUCE L 1205 GALLOWAY LANE HARRISBURG PA 17111 $422,548.00
600070999 DAVIS,JEFFREY A 2900 PINE AVENUE MANHATTAN CA 90266 $545,946.15
600071000 TEISMANN,KEVIN P 1560 GULF BOULEVARD CLEARWATER FL 34630 $372,705.36
600071001 COHLER,ALAN 6705 LAUREL ROAD SOLEBURY PA 18963 $229,988.69
600071002 WENNEMER,ROBERT G 110 BELL FARM ESTAT SEWICKLEY PA 15143 $372,235.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600070988 DOLAN,FRANK P 6.500 .250 6.250 .1550 6.095 01/01/2027
600070989 NEPPL,JEFFREY A 6.500 .250 6.250 .1550 6.095 10/01/2026
600070991 LIST,GARY C 6.500 .250 6.250 .1550 6.095 10/01/2026
600070992 ROBERTS,DEAN 6.500 .250 6.250 .1550 6.095 04/01/2027
600070993 ALLEN,DAVID M 6.500 .250 6.250 .1550 6.095 04/01/2027
600070994 SCHEPP,DOUGLAS E 6.500 .250 6.250 .1550 6.095 04/01/2027
600070995 M.MASELES,DANITA J 6.500 .250 6.250 .1550 6.095 04/01/2027
600070996 GOLD,JEFFREY S 6.500 .250 6.250 .1550 6.095 03/01/2027
600070997 PAVLECICH,JOHN E 6.500 .250 6.250 .1550 6.095 02/01/2027
600070998 HARTMAN,BRUCE L 6.500 .250 6.250 .1550 6.095 02/01/2027
600070999 DAVIS,JEFFREY A 6.500 .250 6.250 .1550 6.095 01/01/2027
600071000 TEISMANN,KEVIN P 6.500 .250 6.250 .1550 6.095 01/01/2027
600071001 COHLER,ALAN 6.500 .250 6.250 .1550 6.095 01/01/2027
600071002 WENNEMER,ROBERT G 6.500 .250 6.250 .1550 6.095 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600070988 DOLAN,FRANK P 92412607 $1,748.30 09/01/1997 360
600070989 NEPPL,JEFFREY A 91898415 $1,972.05 09/01/1997 360
600070991 LIST,GARY C 91897305 $2,705.25 09/01/1997 360
600070992 ROBERTS,DEAN 92427536 $1,592.81 09/01/1997 360
600070993 ALLEN,DAVID M 92426896 $1,414.09 19 09/01/1997 360
600070994 SCHEPP,DOUGLAS E 92426636 $1,658.55 09/01/1997 360
600070995 M.MASELES,DANITA J 92424272 $1,620.94 19 09/01/1997 360
600070996 GOLD,JEFFREY S 92420229 $1,493.26 19 09/01/1997 360
600070997 PAVLECICH,JOHN E 92415796 $1,784.96 09/01/1997 360
600070998 HARTMAN,BRUCE L 92415714 $2,692.61 09/01/1997 360
600070999 DAVIS,JEFFREY A 92415534 $3,476.37 09/01/1997 360
600071000 TEISMANN,KEVIN P 92415443 $2,376.58 09/01/1997 360
600071001 COHLER,ALAN 92414696 $1,469.56 09/01/1997 360
600071002 WENNEMER,ROBERT G 92414288 $2,370.26 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600070988 DOLAN,FRANK P 2.00 2.75 11.50 2.750 2.500 2.345 $345,800.00 N
600070989 NEPPL,JEFFREY A 2.00 2.75 11.50 2.750 2.500 2.345 $442,500.00 N
600070991 LIST,GARY C 2.00 2.75 11.50 2.750 2.500 2.345 $535,000.00 N
600070992 ROBERTS,DEAN 2.00 2.75 11.50 2.750 2.500 2.345 $315,000.00 N
600070993 ALLEN,DAVID M 2.00 2.75 11.50 2.750 2.500 2.345 $235,500.00 N
600070994 SCHEPP,DOUGLAS E 2.00 2.75 11.50 2.750 2.500 2.345 $328,000.00 N
600070995 M.MASELES,DANITA J 2.00 2.75 11.50 2.750 2.500 2.345 $269,950.00 N
600070996 GOLD,JEFFREY S 2.00 2.75 11.50 2.750 2.500 2.345 $262,500.00 N
600070997 PAVLECICH,JOHN E 2.00 2.75 11.50 2.750 2.500 2.345 $353,000.00 N
600070998 HARTMAN,BRUCE L 2.00 2.75 11.50 2.750 2.500 2.345 $585,000.00 N
600070999 DAVIS,JEFFREY A 2.00 2.75 11.50 2.750 2.500 2.345 $795,000.00 N
600071000 TEISMANN,KEVIN P 2.00 2.75 11.50 2.750 2.500 2.345 $470,000.00 N
600071001 COHLER,ALAN 2.00 2.75 11.50 2.750 2.500 2.345 $700,000.00 N
600071002 WENNEMER,ROBERT G 2.00 2.75 11.50 2.750 2.500 2.345 $675,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071003 BUSCH,DOUGLAS F 5145 GROSVENOR CIRCL GRANITE BA CA 95746 $420,072.16
600071004 BARNETTE,SCOTT D 303 GENTLEWOODS DRI CARY NC 27511 $273,046.91
600071005 DUGAS,RAYMOND N 770 HUPP CROSS ROAD BLOOMFIELD MI 48301 $376,479.77
600071006 BLACK,BRENT L 17658 N 52ND PLACE SCOTTSDALE AZ 85254 $251,894.74
600071007 BROOKER,ROBERT A 15 N SHORE RD. HAMPTON NH 3842 $247,127.89
600071008 HARTLEY,DOUGLAS G 9 FORREST HILLS D VOORHEES NJ 8043 $223,341.62
600071009 MILLS,DAVID M 4001 EIDER DRIVE MCKINNEY TX 75070 $293,753.32
600071010 LOPEZ-LEWIS,KAREN 13349 S DRIFTWOOD DRIVE YUMA AZ 85367 $269,526.15
600071046 SHOEMAKER,STEPHEN H 158 REES PLACE FALLS CHUR VA 22046 $266,276.19
600071048 OSTOJIN,ALEKSANDRA 10 HOLLOW BROOK CO WAYNE NJ 7470 $248,392.03
600071049 HICKS,JACK 346 MOUNT PROSPECT FAR HILLS NJ 7931 $528,578.26
600071050 O'DONNELL,JOSEPH C 3648 WHITE EAGLE DRI NAPERVILLE IL 60564 $274,546.31
600071051 LUBURGH,BRIAN W 27 MOUNT PLEASANT SPARTA NJ 7871 $206,662.18
600071052 KELLY,MICHAEL A 53 LAURA LANE COVENT STA NJ 7961 $431,544.98
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071003 BUSCH,DOUGLAS F 6.500 .250 6.250 .1550 6.095 11/01/2026
600071004 BARNETTE,SCOTT D 6.500 .250 6.250 .1550 6.095 11/01/2026
600071005 DUGAS,RAYMOND N 6.500 .250 6.250 .1550 6.095 11/01/2026
600071006 BLACK,BRENT L 6.500 .250 6.250 .1550 6.095 11/01/2026
600071007 BROOKER,ROBERT A 6.500 .250 6.250 .1550 6.095 11/01/2026
600071008 HARTLEY,DOUGLAS G 6.500 .250 6.250 .1550 6.095 01/01/2027
600071009 MILLS,DAVID M 6.500 .250 6.250 .1550 6.095 11/01/2026
600071010 LOPEZ-LEWIS,KAREN 6.500 .250 6.250 .1550 6.095 11/01/2026
600071046 SHOEMAKER,STEPHEN H 6.500 .250 6.250 .1550 6.095 02/01/2027
600071048 OSTOJIN,ALEKSANDRA 6.500 .250 6.250 .1550 6.095 02/01/2027
600071049 HICKS,JACK 6.500 .250 6.250 .1550 6.095 02/01/2027
600071050 O'DONNELL,JOSEPH C 6.500 .250 6.250 .1550 6.095 02/01/2027
600071051 LUBURGH,BRIAN W 6.500 .250 6.250 .1550 6.095 02/01/2027
600071052 KELLY,MICHAEL A 6.500 .250 6.250 .1550 6.095 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071003 BUSCH,DOUGLAS F 92407844 $2,679.97 09/01/1997 360
600071004 BARNETTE,SCOTT D 92407104 $1,741.98 09/01/1997 360
600071005 DUGAS,RAYMOND N 92403401 $2,401.86 09/01/1997 360
600071006 BLACK,BRENT L 92403277 $1,607.03 19 09/01/1997 360
600071007 BROOKER,ROBERT A 92401358 $1,577.64 09/01/1997 360
600071008 HARTLEY,DOUGLAS G 92400900 $1,422.15 09/01/1997 360
600071009 MILLS,DAVID M 91896758 $1,874.08 19 09/01/1997 360
600071010 LOPEZ-LEWIS,KAREN 91884603 $1,719.54 2 09/01/1997 360
600071046 SHOEMAKER,STEPHEN H 92415944 $1,693.95 09/01/1997 360
600071048 OSTOJIN,ALEKSANDRA 92413300 $1,580.17 09/01/1997 360
600071049 HICKS,JACK 92413142 $3,362.60 09/01/1997 360
600071050 O'DONNELL,JOSEPH C 92412613 $1,756.52 19 09/01/1997 360
600071051 LUBURGH,BRIAN W 92412098 $1,314.70 09/01/1997 360
600071052 KELLY,MICHAEL A 91899018 $2,755.82 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071003 BUSCH,DOUGLAS F 2.00 2.75 11.50 2.750 2.500 2.345 $530,000.00 N
600071004 BARNETTE,SCOTT D 2.00 2.75 11.50 2.750 2.500 2.345 $344,500.00 N
600071005 DUGAS,RAYMOND N 2.00 2.75 11.50 2.750 2.500 2.345 $492,500.00 N
600071006 BLACK,BRENT L 2.00 2.75 11.50 2.750 2.500 2.345 $282,531.91 N
600071007 BROOKER,ROBERT A 2.00 2.75 11.50 2.750 2.500 2.345 $312,000.00 N
600071008 HARTLEY,DOUGLAS G 2.00 2.75 11.50 2.750 2.500 2.345 $360,000.00 N
600071009 MILLS,DAVID M 2.00 2.75 11.50 2.750 2.500 2.345 $329,471.32 N
600071010 LOPEZ-LEWIS,KAREN 2.00 2.75 11.50 2.750 2.500 2.345 $302,300.00 N
600071046 SHOEMAKER,STEPHEN H 2.00 2.75 11.50 2.750 2.500 2.345 $335,500.00 N
600071048 OSTOJIN,ALEKSANDRA 2.00 2.75 11.50 2.750 2.500 2.345 $425,000.00 N
600071049 HICKS,JACK 2.00 2.75 11.50 2.750 2.500 2.345 $665,000.00 N
600071050 O'DONNELL,JOSEPH C 2.00 2.75 11.50 2.750 2.500 2.345 $308,787.00 N
600071051 LUBURGH,BRIAN W 2.00 2.75 11.50 2.750 2.500 2.345 $325,000.00 N
600071052 KELLY,MICHAEL A 2.00 2.75 11.50 2.750 2.500 2.345 $545,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071055 CARLSON,PHILIP A 80 DAVENPORT FARM STANFORD CT 6903 $381,530.18
600071056 HUPP,RICHARD 11989 RIVER OAKS DRIV LOVELAND OH 45140 $223,986.83
600071057 PETERSON,JANE M 615 S WHISPERING HILL NAPERVILLE IL 60540 $221,978.54
600071058 LLOVERA,BERNARDO H 58 ANDREWS DRIVE DARIEN CT 6820 $386,375.25
600071059 HELLMANN,WAYNE E 5474 NORTHWOOD DRIVE CENTER VAL PA 18034 $258,327.69
600071060 CHAU,GILBERT 310 OAK ARBOR CT. ALPHARETTA GA 30202 $228,312.06
600071061 ORFIELD,DONALD R 2 ROSEWOOD DRIVE INDEPENDEN NJ 7840 $268,515.55
600071062 STAY,KEVIN E 30462 CAMINO PORVENIR RANCHO PAL CA 90275 $411,710.15
600071063 MCGEACHY,DANIEL 5 BLUEBIRD COURT RANDOLPH NJ 7869 $270,243.28
600071064 KITTERMAN,BRADLEY S 340 OLD YORK RD. DULUTH GA 30155 $233,764.20
600071065 MATTHEWS,ROBERT L 5 MAPLEWOOD DR. DANBURY CT 6811 $323,200.13
600071066 HUGHES,JOHN M 16088 VILLA VIZCAYA P DELRAY BEA FL 33446 $286,036.04
600071067 CURTIN,JOHN D 60 INDIAN LEDGE RO MONROE CT 6468 $297,220.94
600071070 MICCHELLI,ARTHUR 51 AUTUMN DRIVE NEWTOWN PA 18940 $311,603.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071055 CARLSON,PHILIP A 6.500 .250 6.250 .1550 6.095 02/01/2027
600071056 HUPP,RICHARD 6.500 .250 6.250 .1550 6.095 01/01/2027
600071057 PETERSON,JANE M 6.500 .250 6.250 .1550 6.095 01/01/2027
600071058 LLOVERA,BERNARDO H 6.500 .250 6.250 .1550 6.095 01/01/2027
600071059 HELLMANN,WAYNE E 6.500 .250 6.250 .1550 6.095 02/01/2027
600071060 CHAU,GILBERT 6.500 .250 6.250 .1550 6.095 04/01/2027
600071061 ORFIELD,DONALD R 6.500 .250 6.250 .1550 6.095 03/01/2027
600071062 STAY,KEVIN E 6.500 .250 6.250 .1550 6.095 04/01/2027
600071063 MCGEACHY,DANIEL 6.500 .250 6.250 .1550 6.095 01/01/2027
600071064 KITTERMAN,BRADLEY S 6.500 .250 6.250 .1550 6.095 01/01/2027
600071065 MATTHEWS,ROBERT L 6.500 .250 6.250 .1550 6.095 01/01/2027
600071066 HUGHES,JOHN M 6.500 .250 6.250 .1550 6.095 01/01/2027
600071067 CURTIN,JOHN D 6.500 .250 6.250 .1550 6.095 11/01/2026
600071070 MICCHELLI,ARTHUR 6.625 .250 6.375 .1550 6.220 04/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071055 CARLSON,PHILIP A 92413765 $2,427.14 09/01/1997 360
600071056 HUPP,RICHARD 92413687 $1,426.26 2 09/01/1997 360
600071057 PETERSON,JANE M 92413667 $1,415.83 09/01/1997 360
600071058 LLOVERA,BERNARDO H 92413126 $2,528.27 09/01/1997 360
600071059 HELLMANN,WAYNE E 92409965 $1,643.38 09/01/1997 360
600071060 CHAU,GILBERT 92422485 $1,453.76 09/01/1997 360
600071061 ORFIELD,DONALD R 92422241 $1,706.58 09/01/1997 360
600071062 STAY,KEVIN E 92420790 $2,614.23 09/01/1997 360
600071063 MCGEACHY,DANIEL 92409669 $1,720.81 3 09/01/1997 360
600071064 KITTERMAN,BRADLEY S 92409486 $1,488.52 09/01/1997 360
600071065 MATTHEWS,ROBERT L 92409105 $2,058.01 09/01/1997 360
600071066 HUGHES,JOHN M 92405540 $1,821.37 09/01/1997 360
600071067 CURTIN,JOHN D 92401435 $1,896.20 09/01/1997 360
600071070 MICCHELLI,ARTHUR 92422957 $2,004.17 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071055 CARLSON,PHILIP A 2.00 2.75 11.50 2.750 2.500 2.345 $480,000.00 N
600071056 HUPP,RICHARD 2.00 2.75 11.50 2.750 2.500 2.345 $282,054.00 N
600071057 PETERSON,JANE M 2.00 2.75 11.50 2.750 2.500 2.345 $280,000.00 N
600071058 LLOVERA,BERNARDO H 2.00 2.75 11.50 2.750 2.500 2.345 $850,000.00 N
600071059 HELLMANN,WAYNE E 2.00 2.75 11.50 2.750 2.500 2.345 $429,000.00 N
600071060 CHAU,GILBERT 2.00 2.75 11.50 2.750 2.500 2.345 $323,900.00 N
600071061 ORFIELD,DONALD R 2.00 2.75 11.50 2.750 2.500 2.345 $349,000.00 N
600071062 STAY,KEVIN E 2.00 2.75 11.50 2.750 2.500 2.345 $517,000.00 N
600071063 MCGEACHY,DANIEL 2.00 2.75 11.50 2.750 2.500 2.345 $302,500.00 N
600071064 KITTERMAN,BRADLEY S 2.00 2.75 11.50 2.750 2.500 2.345 $325,000.00 N
600071065 MATTHEWS,ROBERT L 2.00 2.75 11.50 2.750 2.500 2.345 $407,000.00 N
600071066 HUGHES,JOHN M 2.00 2.75 11.50 2.750 2.500 2.345 $360,200.00 N
600071067 CURTIN,JOHN D 2.00 2.75 11.50 2.750 2.500 2.345 $492,500.00 N
600071070 MICCHELLI,ARTHUR 2.00 2.75 11.63 2.750 2.500 2.345 $410,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071071 FURKIN,ROGER W 263 BERKSHIRE ROAD SANDY HOOK CT 6482 $216,927.65
600071072 MURRAYIII,AVERN L 8408 CLARK'S BRANCH RALEIGH NC 27613 $214,346.38
600071073 CARTER,JOHN F 3380 SAXONY GLEN MARIETTA GA 30066 $218,416.88
600071074 MCGEEHAN,PATRICK J 409 EAST CENTRAL A MOORESTOWN NJ 8057 $332,280.46
600071075 COLLEVECHIO,ALBERT D 3836 MANDEVILLE LANE NAPERVILLE IL 60564 $220,181.04
600071076 DENHAM,BILLY P 3808 LOST CAVERN COV AUSTIN TX 78739 $209,389.75
600071078 WILSON,HUGH 1598 KNOLLWOOD ROAD BETHLEHEM PA 18015 $223,996.42
600071079 PAINTER,CORNING F 10400 CASSIA COVE AUSTIN TX 78759 $226,236.36
600071080 CORMAN,PHILIP J 1806 PARK VISTA CIRC SANTA CLAR CA 95051 $257,384.37
600071081 COLE,R R 4071 LEE ROAD ALLISON PA PA 15101 $116,579.44
600071082 SHEETS,DAVID R 582 WEIKEL ROAD LANSDALE PA 19446 $235,472.75
600071083 ESMERSOY,CENGIZ 3815 PALMER COURT SUGARLAND TX 77479 $245,360.39
600071084 SEELEY,DUANE S 4 MALIBU CIRCLE NEWPORT BE CA 92625 $545,025.14
600071085 LUCERO,DAVID E 9608 NUTHATCH DRIVE FAIRFAX ST VA 22039 $237,528.36
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071071 FURKIN,ROGER W 6.625 .250 6.375 .1550 6.220 01/01/2027
600071072 MURRAYIII,AVERN L 6.625 .250 6.375 .1550 6.220 01/01/2027
600071073 CARTER,JOHN F 6.625 .250 6.375 .1550 6.220 01/01/2027
600071074 MCGEEHAN,PATRICK J 6.625 .250 6.375 .1550 6.220 12/01/2026
600071075 COLLEVECHIO,ALBERT D 6.625 .250 6.375 .1550 6.220 10/01/2026
600071076 DENHAM,BILLY P 6.625 .250 6.375 .1550 6.220 10/01/2026
600071078 WILSON,HUGH 6.625 .250 6.375 .1550 6.220 04/01/2027
600071079 PAINTER,CORNING F 6.625 .250 6.375 .1550 6.220 04/01/2027
600071080 CORMAN,PHILIP J 6.625 .250 6.375 .1550 6.220 01/01/2027
600071081 COLE,R R 6.625 .250 6.375 .1550 6.220 01/01/2027
600071082 SHEETS,DAVID R 6.625 .250 6.375 .1550 6.220 12/01/2026
600071083 ESMERSOY,CENGIZ 6.625 .250 6.375 .1550 6.220 11/01/2026
600071084 SEELEY,DUANE S 6.625 .250 6.375 .1550 6.220 11/01/2026
600071085 LUCERO,DAVID E 6.625 .250 6.375 .1550 6.220 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071071 FURKIN,ROGER W 92414671 $1,399.08 19 09/01/1997 360
600071072 MURRAYIII,AVERN L 92412194 $1,382.43 09/01/1997 360
600071073 CARTER,JOHN F 92410832 $1,408.68 09/01/1997 360
600071074 MCGEEHAN,PATRICK J 92408339 $2,145.04 09/01/1997 360
600071075 COLLEVECHIO,ALBERT D 91898379 $1,424.05 09/01/1997 360
600071076 DENHAM,BILLY P 91897845 $1,354.26 1 09/01/1997 360
600071078 WILSON,HUGH 92427271 $1,440.70 09/01/1997 360
600071079 PAINTER,CORNING F 92425930 $1,455.11 3 09/01/1997 360
600071080 CORMAN,PHILIP J 92414183 $1,660.01 3 09/01/1997 360
600071081 COLE,R R 92413886 $755.57 09/01/1997 360
600071082 SHEETS,DAVID R 92408800 $1,520.10 2 09/01/1997 360
600071083 ESMERSOY,CENGIZ 92407527 $1,585.41 09/01/1997 360
600071084 SEELEY,DUANE S 92406861 $3,521.71 09/01/1997 360
600071085 LUCERO,DAVID E 92405948 $1,531.94 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071071 FURKIN,ROGER W 2.00 2.75 11.63 2.750 2.500 2.345 $230,000.00 N
600071072 MURRAYIII,AVERN L 2.00 2.75 11.63 2.750 2.500 2.345 $269,900.00 N
600071073 CARTER,JOHN F 2.00 2.75 11.63 2.750 2.500 2.345 $304,900.00 N
600071074 MCGEEHAN,PATRICK J 2.00 2.75 11.63 2.750 2.500 2.345 $425,000.00 N
600071075 COLLEVECHIO,ALBERT D 2.00 2.75 11.63 2.750 2.500 2.345 $278,408.86 N
600071076 DENHAM,BILLY P 2.00 2.75 11.63 2.750 2.500 2.345 $235,000.00 N
600071078 WILSON,HUGH 2.00 2.75 11.63 2.750 2.500 2.345 $340,000.00 N
600071079 PAINTER,CORNING F 2.00 2.75 11.63 2.750 2.500 2.345 $252,500.00 N
600071080 CORMAN,PHILIP J 2.00 2.75 11.63 2.750 2.500 2.345 $305,000.00 N
600071081 COLE,R R 2.00 2.75 11.63 2.750 2.500 2.345 $147,500.00 N
600071082 SHEETS,DAVID R 2.00 2.75 11.63 2.750 2.500 2.345 $249,900.00 N
600071083 ESMERSOY,CENGIZ 2.00 2.75 11.63 2.750 2.500 2.345 $309,500.00 N
600071084 SEELEY,DUANE S 2.00 2.75 11.63 2.750 2.500 2.345 $725,000.00 N
600071085 LUCERO,DAVID E 2.00 2.75 11.63 2.750 2.500 2.345 $299,100.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071086 LANE,ANTHONY F 20678 NW27TH TERRACE BOCA RATON FL 33434 $272,512.62
600071087 O'HARA,ELLEN O 3200 CANTERBURY DRIV BOCA RATON FL 33434 $325,878.36
600071088 KENNEMER,BRIAN N 115 HILLSIDE TERRAC WARNER ROB GA 31088 $70,605.54
600071089 BUCKLEY,EDWARD J 2401 EDWARDS MANOR FOREST HIL MD 20150 $263,055.85
600071090 MCAVITYJR,THOMAS A 5844 GOLDENEYE COURT LONG GROVE IL 60047 $445,929.63
600071091 MITRY,NORMAN F 163 GENEVA DRIVE ALIQUIPPA PA 15001 $183,326.58
600071092 CROWLEY,MICHAEL J 10 DOWNER AVENUE SCARSDALE NY 10583 $247,505.61
600071122 NORRISJR.,CHARLES J 22330 SAM FRED ROAD MIDDLEBURG VA 22117 $396,575.94
600071123 TANSEY,VICTOR E 815 W TREE COVE COLLIERVIL TN 38017 $214,688.30
600071124 EDWARDS,BRIAN D 12425 BROOKS CROSSING FISHERS IN 46038 $372,301.43
600071125 FULTON,ROBERT J 177 61ST STREET BOROUGH OF NJ 8202 $522,658.32
600071126 FERNANDEZ,MANUEL J 4537 PECAN VALLEY DR PLANO TX 75093 $276,361.81
600071127 BUTLER,GERARD M 3328 WHITE EAGLE DRI NAPERVILLE IL 60564 $320,874.25
600071128 MCELLIN,DANIEL J 188 BOXWOOD DRIVE HAWTHORN W IL 60047 $268,103.30
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071086 LANE,ANTHONY F 6.625 .250 6.375 .1550 6.220 11/01/2026
600071087 O'HARA,ELLEN O 6.625 .250 6.375 .1550 6.220 12/01/2026
600071088 KENNEMER,BRIAN N 6.625 .250 6.375 .1550 6.220 11/01/2026
600071089 BUCKLEY,EDWARD J 6.625 .250 6.375 .1550 6.220 10/01/2026
600071090 MCAVITYJR,THOMAS A 6.625 .250 6.375 .1550 6.220 11/01/2026
600071091 MITRY,NORMAN F 6.625 .250 6.375 .1550 6.220 11/01/2026
600071092 CROWLEY,MICHAEL J 6.625 .250 6.375 .1550 6.220 10/01/2026
600071122 NORRISJR.,CHARLES J 6.625 .250 6.375 .1550 6.220 02/01/2027
600071123 TANSEY,VICTOR E 6.625 .250 6.375 .1550 6.220 03/01/2027
600071124 EDWARDS,BRIAN D 6.625 .250 6.375 .1550 6.220 01/01/2027
600071125 FULTON,ROBERT J 6.625 .250 6.375 .1550 6.220 04/01/2027
600071126 FERNANDEZ,MANUEL J 6.625 .250 6.375 .1550 6.220 04/01/2027
600071127 BUTLER,GERARD M 6.625 .250 6.375 .1550 6.220 01/01/2027
600071128 MCELLIN,DANIEL J 6.750 .250 6.500 .1550 6.345 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071086 LANE,ANTHONY F 92405029 $1,760.85 09/01/1997 360
600071087 O'HARA,ELLEN O 92404401 $2,136.08 09/01/1997 360
600071088 KENNEMER,BRIAN N 92404367 $456.22 19 09/01/1997 360
600071089 BUCKLEY,EDWARD J 92402192 $1,723.08 3 09/01/1997 360
600071090 MCAVITYJR,THOMAS A 92400973 $2,881.40 09/01/1997 360
600071091 MITRY,NORMAN F 92400245 $1,184.58 09/01/1997 360
600071092 CROWLEY,MICHAEL J 91899532 $1,600.78 09/01/1997 360
600071122 NORRISJR.,CHARLES J 92414955 $2,561.24 09/01/1997 360
600071123 TANSEY,VICTOR E 92412472 $1,383.07 09/01/1997 360
600071124 EDWARDS,BRIAN D 92418582 $2,401.17 09/01/1997 360
600071125 FULTON,ROBERT J 92421344 $3,361.63 09/01/1997 360
600071126 FERNANDEZ,MANUEL J 92421337 $1,777.50 09/01/1997 360
600071127 BUTLER,GERARD M 92407275 $2,069.48 09/01/1997 360
600071128 MCELLIN,DANIEL J 92412608 $1,751.21 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071086 LANE,ANTHONY F 2.00 2.75 11.63 2.750 2.500 2.345 $367,000.00 N
600071087 O'HARA,ELLEN O 2.00 2.75 11.63 2.750 2.500 2.345 $417,000.00 N
600071088 KENNEMER,BRIAN N 2.00 2.75 11.63 2.750 2.500 2.345 $75,000.00 N
600071089 BUCKLEY,EDWARD J 2.00 2.75 11.63 2.750 2.500 2.345 $299,000.00 N
600071090 MCAVITYJR,THOMAS A 2.00 2.75 11.63 2.750 2.500 2.345 $637,500.00 N
600071091 MITRY,NORMAN F 2.00 2.75 11.63 2.750 2.500 2.345 $255,000.00 N
600071092 CROWLEY,MICHAEL J 2.00 2.75 11.63 2.750 2.500 2.345 $340,000.00 N
600071122 NORRISJR.,CHARLES J 2.00 2.75 11.63 2.750 2.500 2.345 $1,056,250.00 N
600071123 TANSEY,VICTOR E 2.00 2.75 11.63 2.750 2.500 2.345 $270,000.00 N
600071124 EDWARDS,BRIAN D 2.00 2.75 11.63 2.750 2.500 2.345 $475,000.00 N
600071125 FULTON,ROBERT J 2.00 2.75 11.63 2.750 2.500 2.345 $825,000.00 N
600071126 FERNANDEZ,MANUEL J 2.00 2.75 11.63 2.750 2.500 2.345 $347,000.00 N
600071127 BUTLER,GERARD M 2.00 2.75 11.63 2.750 2.500 2.345 $404,000.00 N
600071128 MCELLIN,DANIEL J 2.00 2.75 11.75 2.750 2.500 2.345 $459,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071129 KRIENKE,JAMES E 3703 SMOKE HICKORY L VALRICO FL 33594 $248,243.72
600071130 HANSON,GREGORY F 135 NOD RD. RIDGEFIELD CT 6477 $492,515.57
600071131 WADE,BRUCE E 17 PERRY DR. WEST WINDS NJ 8512 $208,335.61
600071137 PHILLIPS,SHAWN L 5581 ARLENE WAY LIVERMORE CA 94558 $294,548.52
600071138 JONSKE,JAMES W 1697 PERIDOT DR. LIVERMORE CA 94550 $324,292.06
600071139 STEMMLER,KURT R 5900 PROSPECTOR CIRC ANAHEIM HI CA 92808 $266,595.94
600071140 ROSE,STUART A 27601 TRES VISTAS MISSION VI CA 92692 $392,861.47
600071141 THRASHER,DAVID L 16 TULIP LANE SAN CARLOS CA 94070 $415,084.02
600071142 COLEMAN,MATTHEW B 194 BELLAIR RD. RIDGEWOOD NJ 7450 $270,089.18
600071143 FOX,MICHAEL D 304 MOSSWOOD COURT WOODSTOCK GA 30189 $242,285.89
600071144 JESIONOWSKI,LEE G 12518 E BARBARY COAST TUCSON AZ 85749 $229,367.61
600071145 MARTINEZ,ERIC T 12 GASTON DRIVE PITTSFIELD MA 1201 $259,576.26
600071146 COHEN,LAWRENCE P 437 C DEDHAM STREET NEWTON MA 2159 $446,838.77
600071147 TONKINJR.,HOWARD T 21 LAKE MIST DRIVE SUGAR LAND TX 77479 $262,899.80
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071129 KRIENKE,JAMES E 6.750 .250 6.500 .1550 6.345 01/01/2027
600071130 HANSON,GREGORY F 6.750 .250 6.500 .1550 6.345 01/01/2027
600071131 WADE,BRUCE E 6.750 .250 6.500 .1550 6.345 12/01/2026
600071137 PHILLIPS,SHAWN L 6.750 .250 6.500 .1550 6.345 03/01/2027
600071138 JONSKE,JAMES W 6.750 .250 6.500 .1550 6.345 03/01/2027
600071139 STEMMLER,KURT R 6.750 .250 6.500 .1550 6.345 03/01/2027
600071140 ROSE,STUART A 6.750 .250 6.500 .1550 6.345 12/01/2026
600071141 THRASHER,DAVID L 6.750 .250 6.500 .1550 6.345 12/01/2026
600071142 COLEMAN,MATTHEW B 6.750 .250 6.500 .1550 6.345 01/01/2027
600071143 FOX,MICHAEL D 6.750 .250 6.500 .1550 6.345 01/01/2027
600071144 JESIONOWSKI,LEE G 6.750 .250 6.500 .1550 6.345 12/01/2026
600071145 MARTINEZ,ERIC T 6.750 .250 6.500 .1550 6.345 12/01/2026
600071146 COHEN,LAWRENCE P 6.750 .250 6.500 .1550 6.345 01/01/2027
600071147 TONKINJR.,HOWARD T 6.750 .250 6.500 .1550 6.345 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071129 KRIENKE,JAMES E 92412088 $1,621.50 09/01/1997 360
600071130 HANSON,GREGORY F 92411531 $3,217.05 09/01/1997 360
600071131 WADE,BRUCE E 92407734 $1,362.06 09/01/1997 360
600071137 PHILLIPS,SHAWN L 92422495 $1,920.50 2 09/01/1997 360
600071138 JONSKE,JAMES W 92420418 $2,114.43 09/01/1997 360
600071139 STEMMLER,KURT R 92419843 $1,738.24 09/01/1997 360
600071140 ROSE,STUART A 92414857 $2,568.45 09/01/1997 360
600071141 THRASHER,DAVID L 92411520 $2,713.73 09/01/1997 360
600071142 COLEMAN,MATTHEW B 92410526 $1,764.19 09/01/1997 360
600071143 FOX,MICHAEL D 92410423 $1,582.58 09/01/1997 360
600071144 JESIONOWSKI,LEE G 92409466 $1,499.56 09/01/1997 360
600071145 MARTINEZ,ERIC T 92409169 $1,697.06 19 09/01/1997 360
600071146 COHEN,LAWRENCE P 92409164 $2,918.69 09/01/1997 360
600071147 TONKINJR.,HOWARD T 92408785 $1,718.78 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071129 KRIENKE,JAMES E 2.00 2.75 11.75 2.750 2.500 2.345 $327,000.00 N
600071130 HANSON,GREGORY F 2.00 2.75 11.75 2.750 2.500 2.345 $620,000.00 N
600071131 WADE,BRUCE E 2.00 2.75 11.75 2.750 2.500 2.345 $326,500.00 N
600071137 PHILLIPS,SHAWN L 2.00 2.75 11.75 2.750 2.500 2.345 $329,033.00 N
600071138 JONSKE,JAMES W 2.00 2.75 11.75 2.750 2.500 2.345 $435,123.00 N
600071139 STEMMLER,KURT R 2.00 2.75 11.75 2.750 2.500 2.345 $335,000.00 N
600071140 ROSE,STUART A 2.00 2.75 11.75 2.750 2.500 2.345 $495,000.00 N
600071141 THRASHER,DAVID L 2.00 2.75 11.75 2.750 2.500 2.345 $523,000.00 N
600071142 COLEMAN,MATTHEW B 2.00 2.75 11.75 2.750 2.500 2.345 $372,000.00 N
600071143 FOX,MICHAEL D 2.00 2.75 11.75 2.750 2.500 2.345 $305,000.00 N
600071144 JESIONOWSKI,LEE G 2.00 2.75 11.75 2.750 2.500 2.345 $289,000.00 N
600071145 MARTINEZ,ERIC T 2.00 2.75 11.75 2.750 2.500 2.345 $290,750.00 N
600071146 COHEN,LAWRENCE P 2.00 2.75 11.75 2.750 2.500 2.345 $685,000.00 N
600071147 TONKINJR.,HOWARD T 2.00 2.75 11.75 2.750 2.500 2.345 $361,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071148 JASTY,SATYANARAYANA C 71 AUTUMN WIND SAN RAMON CA 94583 $241,845.21
600071149 MORREALEJR.,VINCENT 913 HILLS CREEK DRI MCKINNEY TX 75070 $231,933.53
600071150 PARKER,ROBERT B 3507 ROYAL WOODS CRYSTAL LA IL 60014 $253,739.26
600071151 ISAACS,RAY A 7721 OVERLOOK HILLS CINCINNATI OH 45244 $244,929.02
600071152 WALSH,JAMES F 24 DOUGLAS WICHITA KS 67206 $228,155.51
600071154 ERICKSON,COLLEEN 337 MEADOWBROOK RD FAIRFIELD CT 6430 $237,067.89
600071192 GIBSON,STEVEN A 36893 N DEER TRAIL DR LAKE VILLA IL 60048 $253,365.60
600071193 SHAH,PRABODH R 12788 MISTY CREEK LAN FAIRFAX VA 22033 $274,308.19
600071194 VINCENT,GREGORY L 20919 GARDENGATE CIRC ASHBURN VA 20147 $227,639.52
600071195 CAMPBELLIII,HAROLD A 1 MUIRFIELD ROAD HALF MOON CA 94019 $308,596.77
600071196 AINSWORTH,GARY V 45 SURREY LANE MAHWAH NJ 7430 $555,271.56
600071197 DESIRAJU,RAMAKRISHNA 598 QUAKER STREET CHAPPAQUA NY 10514 $259,648.67
600071198 ALLEN,VEDA L 46417 SPRINGWOOD COUR STERLING VA 20165 $232,789.52
600071199 OVERMYER,DAVID S 16 EVERGREEN COURT GLEN RIDGE NJ 7028 $224,208.86
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071148 JASTY,SATYANARAYANA C 6.750 .250 6.500 .1550 6.345 11/01/2026
600071149 MORREALEJR.,VINCENT 6.750 .250 6.500 .1550 6.345 11/01/2026
600071150 PARKER,ROBERT B 6.750 .250 6.500 .1550 6.345 11/01/2026
600071151 ISAACS,RAY A 6.750 .250 6.500 .1550 6.345 04/01/2027
600071152 WALSH,JAMES F 6.750 .250 6.500 .1550 6.345 10/01/2026
600071154 ERICKSON,COLLEEN 6.750 .250 6.500 .1550 6.345 10/01/2026
600071192 GIBSON,STEVEN A 6.750 .250 6.500 .1550 6.345 03/01/2027
600071193 SHAH,PRABODH R 6.750 .250 6.500 .1550 6.345 02/01/2027
600071194 VINCENT,GREGORY L 6.750 .250 6.500 .1550 6.345 01/01/2027
600071195 CAMPBELLIII,HAROLD A 6.750 .250 6.500 .1550 6.345 02/01/2027
600071196 AINSWORTH,GARY V 6.750 .250 6.500 .1550 6.345 01/01/2027
600071197 DESIRAJU,RAMAKRISHNA 6.750 .250 6.500 .1550 6.345 02/01/2027
600071198 ALLEN,VEDA L 6.750 .250 6.500 .1550 6.345 12/01/2026
600071199 OVERMYER,DAVID S 6.750 .250 6.500 .1550 6.345 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071148 JASTY,SATYANARAYANA C 92405411 $1,582.58 09/01/1997 360
600071149 MORREALEJR.,VINCENT 92403259 $1,517.72 19 09/01/1997 360
600071150 PARKER,ROBERT B 92402989 $1,660.41 09/01/1997 360
600071151 ISAACS,RAY A 92402496 $1,595.55 09/01/1997 360
600071152 WALSH,JAMES F 92400521 $1,494.37 09/01/1997 360
600071154 ERICKSON,COLLEEN 91897942 $1,552.74 2 09/01/1997 360
600071192 GIBSON,STEVEN A 92419771 $1,651.98 3 09/01/1997 360
600071193 SHAH,PRABODH R 92417454 $1,790.14 09/01/1997 360
600071194 VINCENT,GREGORY L 92417239 $1,486.91 2 09/01/1997 360
600071195 CAMPBELLIII,HAROLD A 92415332 $2,013.90 7 09/01/1997 360
600071196 AINSWORTH,GARY V 92413919 $3,626.97 09/01/1997 360
600071197 DESIRAJU,RAMAKRISHNA 92411762 $1,694.46 2 09/01/1997 360
600071198 ALLEN,VEDA L 92411637 $1,521.94 14 09/01/1997 360
600071199 OVERMYER,DAVID S 92406203 $1,465.83 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071148 JASTY,SATYANARAYANA C 2.00 2.75 11.75 2.750 2.500 2.345 $307,125.00 N
600071149 MORREALEJR.,VINCENT 2.00 2.75 11.75 2.750 2.500 2.345 $262,900.00 N
600071150 PARKER,ROBERT B 2.00 2.75 11.75 2.750 2.500 2.345 $338,000.00 N
600071151 ISAACS,RAY A 2.00 2.75 11.75 2.750 2.500 2.345 $385,371.00 N
600071152 WALSH,JAMES F 2.00 2.75 11.75 2.750 2.500 2.345 $288,000.00 N
600071154 ERICKSON,COLLEEN 2.00 2.75 11.75 2.750 2.500 2.345 $266,000.00 N
600071192 GIBSON,STEVEN A 2.00 2.75 11.75 2.750 2.500 2.345 $283,177.00 N
600071193 SHAH,PRABODH R 2.00 2.75 11.75 2.750 2.500 2.345 $345,000.00 N
600071194 VINCENT,GREGORY L 2.00 2.75 11.75 2.750 2.500 2.345 $254,750.00 N
600071195 CAMPBELLIII,HAROLD A 2.00 2.75 11.75 2.750 2.500 2.345 $345,000.00 N
600071196 AINSWORTH,GARY V 2.00 2.75 11.75 2.750 2.500 2.345 $699,000.00 N
600071197 DESIRAJU,RAMAKRISHNA 2.00 2.75 11.75 2.750 2.500 2.345 $275,000.00 N
600071198 ALLEN,VEDA L 2.00 2.75 11.75 2.750 2.500 2.345 $247,000.00 N
600071199 OVERMYER,DAVID S 2.00 2.75 11.75 2.750 2.500 2.345 $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071200 LANDRY,ROGER F 120 UPPER DEMUNDS R DALLAS PA 18612 $216,258.80
600071201 FREMONT,DAVID S 1032 AVENUE C REDONDO BE CA 90277 $452,683.64
600071202 EDDY,JOHN C 15 SUMMIT DRIVE BASKING RI NJ 7920 $340,879.44
600071203 MCKAY,SUSAN B 9 HALLVIEW DRIVE SIMSBURY CT 6070 $251,525.59
600071204 SHIH,DANIEL T 14329 CARTWRIGHT WAY NORTH POTO MD 20878 $247,564.52
600071206 PAPE,JAMES S 30028 KNOLL VIEW DRIV RANCHO PAL CA 90275 $462,945.71
600071207 COHEN,DAVID M 22 CORAL REEF NEWPORT CO CA 92657 $322,978.51
600071209 LAMEO,ROCK A 600 CARTERS GLENN C VIENNA VA 22180 $323,661.35
600071210 KURP,GARY R 40 COLONIAL RIDGE GAYLORDSVI CT 06776 $224,412.37
600071211 CHEATWOOD,JOEL D 1141 CAROL LANE GLENCOE IL 60022 $690,775.77
600071212 KETCHUM,R. D 6907 WINDHAM PKLWY PROSPECT KY 40059 $322,440.11
600071213 SAMPLE,JAMES R 303 MIRAMONTE LANE LIVERMORE CA 94550 $273,802.78
600071214 DISHONII,KENNETH T 60 PHILIP DR. SHELTON CT 6484 $302,676.50
600071215 SHUMATEJR.,RICHARD L 4064 SUGAR MAPLE DRI DANVILLE CA 94506 $495,390.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071200 LANDRY,ROGER F 6.750 .250 6.500 .1550 6.345 12/01/2026
600071201 FREMONT,DAVID S 6.750 .250 6.500 .1550 6.345 12/01/2026
600071202 EDDY,JOHN C 6.750 .250 6.500 .1550 6.345 12/01/2026
600071203 MCKAY,SUSAN B 6.750 .250 6.500 .1550 6.345 10/01/2026
600071204 SHIH,DANIEL T 6.750 .250 6.500 .1550 6.345 10/01/2026
600071206 PAPE,JAMES S 6.750 .250 6.500 .1550 6.345 10/01/2026
600071207 COHEN,DAVID M 6.750 .250 6.500 .1550 6.345 02/01/2027
600071209 LAMEO,ROCK A 6.750 .250 6.500 .1550 6.345 12/01/2026
600071210 KURP,GARY R 6.750 .250 6.500 .1550 6.345 01/01/2027
600071211 CHEATWOOD,JOEL D 6.750 .250 6.500 .1550 6.345 04/01/2027
600071212 KETCHUM,R. D 6.750 .250 6.500 .1550 6.345 04/01/2027
600071213 SAMPLE,JAMES R 6.750 .250 6.500 .1550 6.345 04/01/2027
600071214 DISHONII,KENNETH T 6.750 .250 6.500 .1550 6.345 04/01/2027
600071215 SHUMATEJR.,RICHARD L 6.750 .250 6.500 .1550 6.345 03/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071200 LANDRY,ROGER F 92405936 $1,413.94 2 09/01/1997 360
600071201 FREMONT,DAVID S 92403340 $2,959.55 2 09/01/1997 360
600071202 EDDY,JOHN C 92402529 $2,231.18 09/01/1997 360
600071203 MCKAY,SUSAN B 91899982 $1,647.44 09/01/1997 360
600071204 SHIH,DANIEL T 91899520 $1,621.50 09/01/1997 360
600071206 PAPE,JAMES S 91899284 $3,032.20 19 09/01/1997 360
600071207 COHEN,DAVID M 91896884 $2,107.94 09/01/1997 360
600071209 LAMEO,ROCK A 92414193 $2,116.05 09/01/1997 360
600071210 KURP,GARY R 92410613 $1,465.83 09/01/1997 360
600071211 CHEATWOOD,JOEL D 92424033 $4,501.27 09/01/1997 360
600071212 KETCHUM,R. D 92423514 $2,100.48 09/01/1997 360
600071213 SAMPLE,JAMES R 92422885 $1,783.64 09/01/1997 360
600071214 DISHONII,KENNETH T 92422455 $1,971.74 09/01/1997 360
600071215 SHUMATEJR.,RICHARD L 92418741 $3,230.02 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071200 LANDRY,ROGER F 2.00 2.75 11.75 2.750 2.500 2.345 $230,000.00 N
600071201 FREMONT,DAVID S 2.00 2.75 11.75 2.750 2.500 2.345 $507,000.00 N
600071202 EDDY,JOHN C 2.00 2.75 11.75 2.750 2.500 2.345 $430,000.00 N
600071203 MCKAY,SUSAN B 2.00 2.75 11.75 2.750 2.500 2.345 $317,500.00 N
600071204 SHIH,DANIEL T 2.00 2.75 11.75 2.750 2.500 2.345 $385,000.00 N
600071206 PAPE,JAMES S 2.00 2.75 11.75 2.750 2.500 2.345 $550,000.00 N
600071207 COHEN,DAVID M 2.00 2.75 11.75 2.750 2.500 2.345 $499,990.00 N
600071209 LAMEO,ROCK A 2.00 2.75 11.75 2.750 2.500 2.345 $435,000.00 N
600071210 KURP,GARY R 2.00 2.75 11.75 2.750 2.500 2.345 $291,000.00 N
600071211 CHEATWOOD,JOEL D 2.00 2.75 11.75 2.750 2.500 2.345 $867,500.00 N
600071212 KETCHUM,R. D 2.00 2.75 11.75 2.750 2.500 2.345 $408,000.00 N
600071213 SAMPLE,JAMES R 2.00 2.75 11.75 2.750 2.500 2.345 $369,000.00 N
600071214 DISHONII,KENNETH T 2.00 2.75 11.75 2.750 2.500 2.345 $380,000.00 N
600071215 SHUMATEJR.,RICHARD L 2.00 2.75 11.75 2.750 2.500 2.345 $622,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071216 ROJEEJR,FREDERICK J 29 HAYDEN DRIVE FOXBORO MA 2035 $272,320.50
600071217 GOODKNIGHT,ROBERT M 2217 WOODBURN HALL LEXINGTON KY 40515 $232,425.65
600071218 AUGUSTINE,WILLIAM 33 LAFAYETTE ROAD PRINCETON NJ 8540 $357,146.85
600071220 MCLOUGHLIN,KEITH R 5687 LONG ISLAND DRI ATLANTA GA 30327 $396,103.34
600071226 FREKOT,JEFFREY R 1851 O'HARA LANE MIDDLETOWN PA 17057 $159,456.93
600071227 JACKSON,ANTHONY 47123 OVERHILL LANE CANTON MI 48188 $215,511.93
600071234 PAYNE,KEVIN J 5145 AUTUMNWOOD DRIV CINCINNATI OH 45242 $309,180.71
600071235 JOHNSONIII,THEODORE K 80 ROCKROSE ALISO VIEJ CA 92656 $239,706.47
600071236 CARROLL,ALVIN B 3844 APPIAN STREET PLEASANTON CA 94588 $291,257.14
600071237 LEIBOWITZ,DAVID M OEHLER ROAD COMFORT TX 78013 $483,935.01
600071238 VANNOSTERN,KIMBERLY A 2040-G NORTH LINC0LN CHICAGO IL 60614 $441,323.59
600071239 BLANCO,LUCIO A 15900 SW77TH CT. MIAMI FL 33157 $219,370.45
600071240 BINKO,PAUL J 7125 E MOUNTAIN BRUSH HIGHLANDS CO 80126 $259,438.49
600071241 LUSIS,IVARS M 18947 GLADSTONE BLVD. MAPLE GROV MN 55311 $213,713.67
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071216 ROJEEJR,FREDERICK J 6.750 .250 6.500 .1550 6.345 02/01/2027
600071217 GOODKNIGHT,ROBERT M 6.750 .250 6.500 .1550 6.345 01/01/2027
600071218 AUGUSTINE,WILLIAM 6.750 .250 6.500 .1550 6.345 12/01/2026
600071220 MCLOUGHLIN,KEITH R 6.750 .250 6.500 .1550 6.345 10/01/2026
600071226 FREKOT,JEFFREY R 6.875 .250 6.625 .1550 6.470 05/01/2027
600071227 JACKSON,ANTHONY 6.875 .250 6.625 .1550 6.470 01/01/2027
600071234 PAYNE,KEVIN J 6.875 .250 6.625 .1550 6.470 04/01/2027
600071235 JOHNSONIII,THEODORE K 6.875 .250 6.625 .1550 6.470 04/01/2027
600071236 CARROLL,ALVIN B 6.875 .250 6.625 .1550 6.470 04/01/2027
600071237 LEIBOWITZ,DAVID M 6.875 .250 6.625 .1550 6.470 04/01/2027
600071238 VANNOSTERN,KIMBERLY A 6.875 .250 6.625 .1550 6.470 03/01/2027
600071239 BLANCO,LUCIO A 6.875 .250 6.625 .1550 6.470 03/01/2027
600071240 BINKO,PAUL J 6.875 .250 6.625 .1550 6.470 02/01/2027
600071241 LUSIS,IVARS M 6.875 .250 6.625 .1550 6.470 02/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071216 ROJEEJR,FREDERICK J 92418700 $1,777.16 09/01/1997 360
600071217 GOODKNIGHT,ROBERT M 92408576 $1,530.69 09/01/1997 360
600071218 AUGUSTINE,WILLIAM 92407214 $2,334.95 09/01/1997 360
600071220 MCLOUGHLIN,KEITH R 91895340 $2,594.39 09/01/1997 360
600071226 FREKOT,JEFFREY R 92427387 $1,051.09 09/01/1997 360
600071227 JACKSON,ANTHONY 92410346 $1,425.54 09/01/1997 360
600071234 PAYNE,KEVIN J 92426217 $2,039.76 3 09/01/1997 360
600071235 JOHNSONIII,THEODORE K 92425611 $1,582.87 09/01/1997 360
600071236 CARROLL,ALVIN B 92425199 $1,921.52 19 09/01/1997 360
600071237 LEIBOWITZ,DAVID M 92425049 $3,192.67 09/01/1997 360
600071238 VANNOSTERN,KIMBERLY A 92422354 $2,916.76 09/01/1997 360
600071239 BLANCO,LUCIO A 92421797 $1,448.53 19 09/01/1997 360
600071240 BINKO,PAUL J 92419678 $1,714.58 7 09/01/1997 360
600071241 LUSIS,IVARS M 92419185 $1,412.40 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071216 ROJEEJR,FREDERICK J 2.00 2.75 11.75 2.750 2.500 2.345 $342,500.00 N
600071217 GOODKNIGHT,ROBERT M 2.00 2.75 11.75 2.750 2.500 2.345 $295,000.00 N
600071218 AUGUSTINE,WILLIAM 2.00 2.75 11.75 2.750 2.500 2.345 $560,000.00 N
600071220 MCLOUGHLIN,KEITH R 2.00 2.75 11.75 2.750 2.500 2.345 $500,000.00 N
600071226 FREKOT,JEFFREY R 2.00 2.75 11.88 2.750 2.500 2.345 $200,000.00 N
600071227 JACKSON,ANTHONY 2.00 2.75 11.88 2.750 2.500 2.345 $271,800.00 N
600071234 PAYNE,KEVIN J 2.00 2.75 11.88 2.750 2.500 2.345 $345,000.00 N
600071235 JOHNSONIII,THEODORE K 2.00 2.75 11.88 2.750 2.500 2.345 $301,199.00 N
600071236 CARROLL,ALVIN B 2.00 2.75 11.88 2.750 2.500 2.345 $325,000.00 N
600071237 LEIBOWITZ,DAVID M 2.00 2.75 11.88 2.750 2.500 2.345 $786,000.00 N
600071238 VANNOSTERN,KIMBERLY A 2.00 2.75 11.88 2.750 2.500 2.345 $555,000.00 N
600071239 BLANCO,LUCIO A 2.00 2.75 11.88 2.750 2.500 2.345 $245,000.00 N
600071240 BINKO,PAUL J 2.00 2.75 11.88 2.750 2.500 2.345 $290,000.00 N
600071241 LUSIS,IVARS M 2.00 2.75 11.88 2.750 2.500 2.345 $269,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071242 HEARD,IRVIN K 22715 FOSSIL CREEK CI KATY TX 77450 $317,653.23
600071243 WILTHEW,ROBERT M 2444 CAMINO DE JUGA SAN RAMON CA 94583 $280,050.39
600071244 FINARELLI,THOMAS R 8 DOE DRIVE DALLAS PA 18612 $276,841.47
600071245 MASNYK,WALTER J 2314 LITTLEBROOKE DUNWOODY GA 30338 $238,126.08
600071246 BOIES,JEFFREY 135 CAPULIN STREET CASTLEROCK CO 80104 $446,517.90
600071247 BURGER,ALEXANDER S 18 CUTLER FARM ROA SUDBURY MA 1776 $475,861.84
600071248 CHANG,RUYU 31113 PRAIRIE RIDGE R GREEN OAKS IL 60048 $347,973.98
600071249 MOY,MARILEE 850 CARLYLE CIRCLE LAKE BLUFF IL 60044 $296,318.95
600071250 DAVIS,STEVEN W 26W488 INTERLACHEN LA WINFIELD IL 60190 $235,152.38
600071251 MANNIX,JOSEPH F 31 HERMITAGE DRIVE NEW HOPE PA 18938 $71,379.25
600071252 MOST,JERRY H 316 A KENILWORTH AV MOORESTOWN NJ 8057 $57,528.76
600071253 CYR,JOHN F 5 LONGVIEW HEIGHT NEWTOWN CT 6740 $225,736.94
600071254 JEPSON,ROBIN C 13210 LONG OVERLAND P KS 66204 $243,438.58
600071255 STUART,ROBERT R 941 SABLE RUN CARMEL IN 46032 $257,758.54
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071242 HEARD,IRVIN K 6.875 .250 6.625 .1550 6.470 12/01/2026
600071243 WILTHEW,ROBERT M 6.875 .250 6.625 .1550 6.470 12/01/2026
600071244 FINARELLI,THOMAS R 6.875 .250 6.625 .1550 6.470 12/01/2026
600071245 MASNYK,WALTER J 6.875 .250 6.625 .1550 6.470 12/01/2026
600071246 BOIES,JEFFREY 6.875 .250 6.625 .1550 6.470 12/01/2026
600071247 BURGER,ALEXANDER S 6.875 .250 6.625 .1550 6.470 11/01/2026
600071248 CHANG,RUYU 6.875 .250 6.625 .1550 6.470 11/01/2026
600071249 MOY,MARILEE 6.875 .250 6.625 .1550 6.470 11/01/2026
600071250 DAVIS,STEVEN W 6.875 .250 6.625 .1550 6.470 11/01/2026
600071251 MANNIX,JOSEPH F 6.875 .250 6.625 .1550 6.470 11/01/2026
600071252 MOST,JERRY H 6.875 .250 6.625 .1550 6.470 11/01/2026
600071253 CYR,JOHN F 6.875 .250 6.625 .1550 6.470 11/01/2026
600071254 JEPSON,ROBIN C 6.875 .250 6.625 .1550 6.470 11/01/2026
600071255 STUART,ROBERT R 6.875 .250 6.625 .1550 6.470 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071242 HEARD,IRVIN K 92412854 $2,103.03 19 09/01/1997 360
600071243 WILTHEW,ROBERT M 92410301 $1,855.17 09/01/1997 360
600071244 FINARELLI,THOMAS R 92410149 $1,832.83 3 09/01/1997 360
600071245 MASNYK,WALTER J 92409700 $1,576.63 09/01/1997 360
600071246 BOIES,JEFFREY 92409204 $2,956.18 09/01/1997 360
600071247 BURGER,ALEXANDER S 92408652 $3,153.26 09/01/1997 360
600071248 CHANG,RUYU 92407777 $2,305.82 19 09/01/1997 360
600071249 MOY,MARILEE 92407351 $1,970.79 09/01/1997 360
600071250 DAVIS,STEVEN W 92405238 $1,576.63 09/01/1997 360
600071251 MANNIX,JOSEPH F 92404846 $472.99 09/01/1997 360
600071252 MOST,JERRY H 92404280 $383.65 09/01/1997 360
600071253 CYR,JOHN F 92403959 $1,495.83 2 09/01/1997 360
600071254 JEPSON,ROBIN C 92402073 $1,613.42 1 09/01/1997 360
600071255 STUART,ROBERT R 92401270 $1,708.01 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071242 HEARD,IRVIN K 2.00 2.75 11.88 2.750 2.500 2.345 $355,700.00 N
600071243 WILTHEW,ROBERT M 2.00 2.75 11.88 2.750 2.500 2.345 $353,000.00 N
600071244 FINARELLI,THOMAS R 2.00 2.75 11.88 2.750 2.500 2.345 $310,000.00 N
600071245 MASNYK,WALTER J 2.00 2.75 11.88 2.750 2.500 2.345 $300,000.00 N
600071246 BOIES,JEFFREY 2.00 2.75 11.88 2.750 2.500 2.345 $670,500.00 N
600071247 BURGER,ALEXANDER S 2.00 2.75 11.88 2.750 2.500 2.345 $600,000.00 N
600071248 CHANG,RUYU 2.00 2.75 11.88 2.750 2.500 2.345 $392,181.00 N
600071249 MOY,MARILEE 2.00 2.75 11.88 2.750 2.500 2.345 $525,000.00 N
600071250 DAVIS,STEVEN W 2.00 2.75 11.88 2.750 2.500 2.345 $385,000.00 N
600071251 MANNIX,JOSEPH F 2.00 2.75 11.88 2.750 2.500 2.345 $90,000.00 N
600071252 MOST,JERRY H 2.00 2.75 11.88 2.750 2.500 2.345 $80,000.00 N
600071253 CYR,JOHN F 2.00 2.75 11.88 2.750 2.500 2.345 $253,000.00 N
600071254 JEPSON,ROBIN C 2.00 2.75 11.88 2.750 2.500 2.345 $288,950.00 N
600071255 STUART,ROBERT R 2.00 2.75 11.88 2.750 2.500 2.345 $459,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071256 STENDER,GREGG D 42 WINDSHIRE DRIVE SOUTH WIND CT 6074 $231,920.25
600071258 GAUGHAN,EDWARD W RD#1 BOX 199W MONKE GREENSBURG PA 15061 $152,535.36
600071260 SPECTOR,RANDY B 6 BARN SWALLOW RO WESTPORT CT 6880 $333,663.23
600071262 HUMPHREYSJR.,GEORGE E 5014 HARVEST PARK DR MEMPHIS TN 38115 $120,839.74
600071266 O'NEILII,ALLAN H 10 PLEASANT VALLEY DENVILLE NJ 7834 $353,508.43
600071321 EASTMAN,MERRILL E 129 SKYVIEW LANE NEW CANAAN CT 6840 $596,931.93
600071322 PHILLIPS,WALTER A 24 PHILLIPS DRIVE STONY POIN NY 10980 $303,175.24
600071323 ANDERSON,DARRELL R 29246 LAWRENCE WELK L ESCONDIDO CA 92026 $383,601.35
600071324 MCDONALD,CORBETT J 5502 RIDGEVIEW DRIVE LA VERNE CA 91750 $351,224.90
600071325 SCHAFER,CHARLES A 2116 2ND AVENUE W SEATTLE WA 98119 $296,693.61
600071326 GILLETTE,JAMES J 11 LOCKLIN CT. SAYREVILLE NJ 8872 $208,926.18
600071327 CARTER,DAVID A 1537 DIAMOND LAKE RO GLASTONBUR CT 6033 $298,465.93
600071328 MACRAE,GARY W 89 BOGGS HILL RD NEWTOWN CT 6470 $388,471.05
600071329 JANSSEN,JAY D 19 BUCK HILL RD. RIDGEFIELD CT 6877 $235,662.51
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071256 STENDER,GREGG D 6.875 .250 6.625 .1550 6.470 11/01/2026
600071258 GAUGHAN,EDWARD W 6.875 .250 6.625 .1550 6.470 10/01/2026
600071260 SPECTOR,RANDY B 6.875 .250 6.625 .1550 6.470 11/01/2026
600071262 HUMPHREYSJR.,GEORGE E 6.875 .250 6.625 .1550 6.470 10/01/2026
600071266 O'NEILII,ALLAN H 6.875 .250 6.625 .1550 6.470 01/01/2027
600071321 EASTMAN,MERRILL E 6.875 .250 6.625 .1550 6.470 03/01/2027
600071322 PHILLIPS,WALTER A 6.875 .250 6.625 .1550 6.470 02/01/2027
600071323 ANDERSON,DARRELL R 6.875 .250 6.625 .1550 6.470 01/01/2027
600071324 MCDONALD,CORBETT J 6.875 .250 6.625 .1550 6.470 01/01/2027
600071325 SCHAFER,CHARLES A 6.875 .250 6.625 .1550 6.470 02/01/2027
600071326 GILLETTE,JAMES J 6.875 .250 6.625 .1550 6.470 03/01/2027
600071327 CARTER,DAVID A 6.875 .250 6.625 .1550 6.470 03/01/2027
600071328 MACRAE,GARY W 6.875 .250 6.625 .1550 6.470 12/01/2026
600071329 JANSSEN,JAY D 6.875 .250 6.625 .1550 6.470 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071256 STENDER,GREGG D 92400356 $1,537.21 09/01/1997 360
600071258 GAUGHAN,EDWARD W 91899174 $1,011.67 09/01/1997 360
600071260 SPECTOR,RANDY B 91898322 $2,299.25 09/01/1997 360
600071262 HUMPHREYSJR.,GEORGE E 91895820 $801.45 1 09/01/1997 360
600071266 O'NEILII,ALLAN H 91881497 $2,364.94 09/01/1997 360
600071321 EASTMAN,MERRILL E 92417444 $3,941.57 09/01/1997 360
600071322 PHILLIPS,WALTER A 92416952 $2,003.63 09/01/1997 360
600071323 ANDERSON,DARRELL R 92416841 $2,537.39 09/01/1997 360
600071324 MCDONALD,CORBETT J 92416283 $2,323.23 1 09/01/1997 360
600071325 SCHAFER,CHARLES A 92414157 $1,970.79 09/01/1997 360
600071326 GILLETTE,JAMES J 92413301 $1,379.55 09/01/1997 360
600071327 CARTER,DAVID A 92410416 $1,970.79 09/01/1997 360
600071328 MACRAE,GARY W 92405114 $2,571.88 19 09/01/1997 360
600071329 JANSSEN,JAY D 92404710 $1,560.21 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071256 STENDER,GREGG D 2.00 2.75 11.88 2.750 2.500 2.345 $292,500.00 N
600071258 GAUGHAN,EDWARD W 2.00 2.75 11.88 2.750 2.500 2.345 $267,000.00 N
600071260 SPECTOR,RANDY B 2.00 2.75 11.88 2.750 2.500 2.345 $600,000.00 N
600071262 HUMPHREYSJR.,GEORGE E 2.00 2.75 11.88 2.750 2.500 2.345 $130,000.00 N
600071266 O'NEILII,ALLAN H 2.00 2.75 11.88 2.750 2.500 2.345 $460,125.00 N
600071321 EASTMAN,MERRILL E 2.00 2.75 11.88 2.750 2.500 2.345 $772,000.00 N
600071322 PHILLIPS,WALTER A 2.00 2.75 11.88 2.750 2.500 2.345 $385,000.00 N
600071323 ANDERSON,DARRELL R 2.00 2.75 11.88 2.750 2.500 2.345 $515,000.00 N
600071324 MCDONALD,CORBETT J 2.00 2.75 11.88 2.750 2.500 2.345 $393,000.00 N
600071325 SCHAFER,CHARLES A 2.00 2.75 11.88 2.750 2.500 2.345 $375,000.00 N
600071326 GILLETTE,JAMES J 2.00 2.75 11.88 2.750 2.500 2.345 $560,000.00 N
600071327 CARTER,DAVID A 2.00 2.75 11.88 2.750 2.500 2.345 $375,000.00 N
600071328 MACRAE,GARY W 2.00 2.75 11.88 2.750 2.500 2.345 $435,000.00 N
600071329 JANSSEN,JAY D 2.00 2.75 11.88 2.750 2.500 2.345 $250,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071330 GARFIELD,SCOTT M 15 AUSTIN HILL ROA CLINTON NJ 8809 $268,334.69
600071331 STOLTZFUS,NANCY H 633 N QUEEN STREET LANCASTER PA 17603 $40,532.58
600071332 MILLER,LANCE A 1616 WHITTINGHAM LAN FT. WAYNE IN 46804 $239,698.39
600071333 FABER,TIMOTHY J 21 MOHAWK TRAIL STAMFORD CT 6903 $370,046.77
600071334 MOORE,ROBERT R 709 FOX RUN TRAIL EDMOND OK 73003 $276,080.98
600071336 PALMER,LYNN F 5231 HERMITAGE DRIVE POWDER SPR GA 30073 $226,635.88
600071337 OLSON,STUART W 10305 BRANDENBURG COU GREAT FALL VA 22066 $307,601.61
600071338 WHITE,MARK E 6040 LOST COLONY DR WOODBRIDGE VA 22193 $238,063.43
600071339 SUTTER,JAMES T 30 INVERNESS COURT LAKE BLUFF IL 60044 $418,016.81
600071340 GOMEZ-MALAGON,FRANCISCO 1617 OLD BARN CI. LIBERTYVIL IL 60048 $314,809.93
600071341 WELLS,DIANA L 724 ST. JOHNS CIRCL PLEASANTON CA 94588 $264,239.65
600071342 FOWLER,JOHN P 3 JUNIPER ST. SAN RAMON CA 94583 $223,503.91
600071343 MICCOLIS,JERRY A 27 N DEXTER DRIVE BASKING RI NJ 7920 $213,737.94
600071344 HANRAHAN,GARY V 5030 CROSSBOW CIRCLE ROANOKE VA 24014 $242,963.22
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071330 GARFIELD,SCOTT M 6.875 .250 6.625 .1550 6.470 12/01/2026
600071331 STOLTZFUS,NANCY H 6.875 .250 6.625 .1550 6.470 02/01/2027
600071332 MILLER,LANCE A 6.875 .250 6.625 .1550 6.470 10/01/2026
600071333 FABER,TIMOTHY J 6.875 .250 6.625 .1550 6.470 10/01/2026
600071334 MOORE,ROBERT R 6.875 .250 6.625 .1550 6.470 03/01/2027
600071336 PALMER,LYNN F 6.875 .250 6.625 .1550 6.470 02/01/2027
600071337 OLSON,STUART W 6.875 .250 6.625 .1550 6.470 12/01/2026
600071338 WHITE,MARK E 6.875 .250 6.625 .1550 6.470 12/01/2026
600071339 SUTTER,JAMES T 6.875 .250 6.625 .1550 6.470 02/01/2027
600071340 GOMEZ-MALAGON,FRANCISCO 6.875 .250 6.625 .1550 6.470 01/01/2027
600071341 WELLS,DIANA L 6.875 .250 6.625 .1550 6.470 12/01/2026
600071342 FOWLER,JOHN P 6.875 .250 6.625 .1550 6.470 10/01/2026
600071343 MICCOLIS,JERRY A 6.875 .250 6.625 .1550 6.470 04/01/2027
600071344 HANRAHAN,GARY V 6.875 .250 6.625 .1550 6.470 04/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071330 GARFIELD,SCOTT M 92402441 $1,784.22 09/01/1997 360
600071331 STOLTZFUS,NANCY H 92400829 $268.36 2 09/01/1997 360
600071332 MILLER,LANCE A 91899729 $1,589.77 09/01/1997 360
600071333 FABER,TIMOTHY J 91899019 $2,454.29 09/01/1997 360
600071334 MOORE,ROBERT R 91895732 $1,822.98 3 09/01/1997 360
600071336 PALMER,LYNN F 92419226 $1,497.80 09/01/1997 360
600071337 OLSON,STUART W 92414194 $2,036.48 09/01/1997 360
600071338 WHITE,MARK E 92413821 $1,576.63 09/01/1997 360
600071339 SUTTER,JAMES T 92412679 $2,767.31 09/01/1997 360
600071340 GOMEZ-MALAGON,FRANCISCO 92410298 $2,086.41 09/01/1997 360
600071341 WELLS,DIANA L 92407871 $1,749.41 09/01/1997 360
600071342 FOWLER,JOHN P 92400278 $1,482.36 09/01/1997 360
600071343 MICCOLIS,JERRY A 92423930 $1,410.10 09/01/1997 360
600071344 HANRAHAN,GARY V 92423527 $1,602.91 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071330 GARFIELD,SCOTT M 2.00 2.75 11.88 2.750 2.500 2.345 $344,000.00 N
600071331 STOLTZFUS,NANCY H 2.00 2.75 11.88 2.750 2.500 2.345 $43,000.00 N
600071332 MILLER,LANCE A 2.00 2.75 11.88 2.750 2.500 2.345 $312,000.00 N
600071333 FABER,TIMOTHY J 2.00 2.75 11.88 2.750 2.500 2.345 $467,000.00 N
600071334 MOORE,ROBERT R 2.00 2.75 11.88 2.750 2.500 2.345 $308,383.00 N
600071336 PALMER,LYNN F 2.00 2.75 11.88 2.750 2.500 2.345 $285,000.00 N
600071337 OLSON,STUART W 2.00 2.75 11.88 2.750 2.500 2.345 $403,000.00 N
600071338 WHITE,MARK E 2.00 2.75 11.88 2.750 2.500 2.345 $305,000.00 N
600071339 SUTTER,JAMES T 2.00 2.75 11.88 2.750 2.500 2.345 $571,250.00 N
600071340 GOMEZ-MALAGON,FRANCISCO 2.00 2.75 11.88 2.750 2.500 2.345 $397,000.00 N
600071341 WELLS,DIANA L 2.00 2.75 11.88 2.750 2.500 2.345 $332,919.00 N
600071342 FOWLER,JOHN P 2.00 2.75 11.88 2.750 2.500 2.345 $282,066.00 N
600071343 MICCOLIS,JERRY A 2.00 2.75 11.88 2.750 2.500 2.345 $313,750.00 N
600071344 HANRAHAN,GARY V 2.00 2.75 11.88 2.750 2.500 2.345 $305,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071345 RICHARDS,CHRISTOPHER 413 WESTCHESTER GLEN CARBO IL 62034 $222,450.77
600071346 BRESS,JOSEPH M 3704 HARRISON ST NW WASHINGTON DC 20015 $298,465.93
600071347 CASHEL,WILLIAM F 1709 LOWER CHURCH CT VIRGINIA B VA 23455 $387,027.73
600071348 BIRCHMIER,ARIC J 5475 E KNOLL PLACE HIGHLANDS CO 80126 $223,656.13
600071349 MILES,EARL F 11581 WOODS BAY LANE INDIANAPOL IN 46236 $234,174.16
600071350 GILL,CHARLES L 1515 ALMA COURT RICHMOND TX 77469 $89,732.01
600071351 GLASS,KENNETH S 42 LILLIAN PLACE GLENDORA NJ 8029 $77,258.22
600071357 ROBINSON,DAVID F 5040 SILVER LAKE DRI PLANO TX 75093 $372,168.05
600071358 PERDEW,JAMES G 408 WYNDHAM HALL WA KNOXVILLE TN 37922 $232,831.15
600071362 VOWELL,DONALD D 67 WYN OAK NASHVILLE TN 37205 $298,502.85
600071363 BADAR,MICHAEL J 10372 CANADIANS LANDN EDEN PRAIR MN 55347 $295,217.06
600071364 GEBBIE,GRAHAM M 6650 PHEASANT RUN FRISCO TX 75034 $218,902.07
600071365 MEYERS,BRENT P 103 CYPRESS POINT W MORAGA CA 94556 $236,804.42
600071366 SHRAGGEJR,HARMON M 219 AVILA STREET SAN FRANCI CA 94123 $437,055.10
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071345 RICHARDS,CHRISTOPHER 6.875 .250 6.625 .1550 6.470 04/01/2027
600071346 BRESS,JOSEPH M 6.875 .250 6.625 .1550 6.470 03/01/2027
600071347 CASHEL,WILLIAM F 6.875 .250 6.625 .1550 6.470 01/01/2027
600071348 BIRCHMIER,ARIC J 6.875 .250 6.625 .1550 6.470 12/01/2026
600071349 MILES,EARL F 6.875 .250 6.625 .1550 6.470 12/01/2026
600071350 GILL,CHARLES L 6.875 .250 6.625 .1550 6.470 10/01/2026
600071351 GLASS,KENNETH S 6.875 .250 6.625 .1550 6.470 10/01/2026
600071357 ROBINSON,DAVID F 7.000 .250 6.750 .1550 6.595 12/01/2026
600071358 PERDEW,JAMES G 7.000 .250 6.750 .1550 6.595 01/01/2027
600071362 VOWELL,DONALD D 7.000 .250 6.750 .1550 6.595 03/01/2027
600071363 BADAR,MICHAEL J 7.000 .250 6.750 .1550 6.595 03/01/2027
600071364 GEBBIE,GRAHAM M 7.000 .250 6.750 .1550 6.595 03/01/2027
600071365 MEYERS,BRENT P 7.000 .250 6.750 .1550 6.595 01/01/2027
600071366 SHRAGGEJR,HARMON M 7.000 .250 6.750 .1550 6.595 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071345 RICHARDS,CHRISTOPHER 92422692 $1,467.58 09/01/1997 360
600071346 BRESS,JOSEPH M 92418619 $1,970.79 09/01/1997 360
600071347 CASHEL,WILLIAM F 92409981 $2,560.05 3 09/01/1997 360
600071348 BIRCHMIER,ARIC J 92407780 $1,480.72 14 09/01/1997 360
600071349 MILES,EARL F 92407053 $1,550.35 09/01/1997 360
600071350 GILL,CHARLES L 91899923 $597.15 1 09/01/1997 360
600071351 GLASS,KENNETH S 91899114 $512.40 09/01/1997 360
600071357 ROBINSON,DAVID F 92412235 $2,494.89 09/01/1997 360
600071358 PERDEW,JAMES G 92410878 $1,559.47 09/01/1997 360
600071362 VOWELL,DONALD D 92424158 $1,995.91 09/01/1997 360
600071363 BADAR,MICHAEL J 92420900 $1,974.62 09/01/1997 360
600071364 GEBBIE,GRAHAM M 92420779 $1,463.67 09/01/1997 360
600071365 MEYERS,BRENT P 92416240 $1,586.08 09/01/1997 360
600071366 SHRAGGEJR,HARMON M 92415805 $2,927.33 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071345 RICHARDS,CHRISTOPHER 2.00 2.75 11.88 2.750 2.500 2.345 $279,250.00 N
600071346 BRESS,JOSEPH M 2.00 2.75 11.88 2.750 2.500 2.345 $410,000.00 N
600071347 CASHEL,WILLIAM F 2.00 2.75 11.88 2.750 2.500 2.345 $433,000.00 N
600071348 BIRCHMIER,ARIC J 2.00 2.75 11.88 2.750 2.500 2.345 $250,489.00 N
600071349 MILES,EARL F 2.00 2.75 11.88 2.750 2.500 2.345 $295,000.00 N
600071350 GILL,CHARLES L 2.00 2.75 11.88 2.750 2.500 2.345 $101,000.00 N
600071351 GLASS,KENNETH S 2.00 2.75 11.88 2.750 2.500 2.345 $106,500.00 N
600071357 ROBINSON,DAVID F 2.00 2.75 12.00 2.750 2.500 2.345 $475,000.00 N
600071358 PERDEW,JAMES G 2.00 2.75 12.00 2.750 2.500 2.345 $293,000.00 N
600071362 VOWELL,DONALD D 2.00 2.75 12.00 2.750 2.500 2.345 $375,000.00 N
600071363 BADAR,MICHAEL J 2.00 2.75 12.00 2.750 2.500 2.345 $371,000.00 N
600071364 GEBBIE,GRAHAM M 2.00 2.75 12.00 2.750 2.500 2.345 $309,500.00 N
600071365 MEYERS,BRENT P 2.00 2.75 12.00 2.750 2.500 2.345 $298,000.00 N
600071366 SHRAGGEJR,HARMON M 2.00 2.75 12.00 2.750 2.500 2.345 $550,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071367 FRIES,CRAIG T 102 BURNS COURT PLEASANT H CA 94523 $228,460.58
600071368 MONBERG,JASON 487-48 9 NOE STREET SAN FRANCI CA 94114 $348,253.44
600071369 BENES,LAURENT 1780 MARYLAND STREET REDWOOD CI CA 94061 $264,446.79
600071370 WEINSHANK,ARTHUR C 74 KEELER ROAD BRIDGEWATE CT 6752 $496,653.53
600071371 CANTWELL,KAREN A 601 N WEST STREET FALLS CHUR VA 22046 $208,133.59
600071372 GRATTAN-SMITH,JOHN D 3896 CHAUCER WOOD ATLANTA GA 30319 $258,036.53
600071373 MCKENZIE,STEPHEN R 3432 VIA PALOMINO PALOS VERD CA 90274 $243,360.15
600071374 SCHNEIDER,CHRISTOPHER M 23 APPLEGATE LANE MONROE CT 6468 $245,843.52
600071375 DITTMEIER,JOHN B 3010 QUAIL HOLLOW DR CLARKS SUM PA 18411 $233,225.35
600071376 MYERS,STEVEN R 5005 PRIDES COURT MURRYSVILL PA 15668 $256,887.41
600071377 LUHRMANN,CRAIG J 26 LOEFFLER LANE MEDFIELD MA 2052 $357,590.52
600071378 MULVIHILL,THOMAS C 7 SAILORS WAY MONMOUTH B NJ 7750 $297,992.08
600071379 STICKLEY,HARRY M 1202 ELM DR. ALABASTER AL 35007 $135,282.86
600071380 CLARK,ALAN W 3254 N RACINE #3 CHICAGO IL 60657 $253,331.65
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071367 FRIES,CRAIG T 7.000 .250 6.750 .1550 6.595 01/01/2027
600071368 MONBERG,JASON 7.000 .250 6.750 .1550 6.595 01/01/2027
600071369 BENES,LAURENT 7.000 .250 6.750 .1550 6.595 02/01/2027
600071370 WEINSHANK,ARTHUR C 7.000 .250 6.750 .1550 6.595 01/01/2027
600071371 CANTWELL,KAREN A 7.000 .250 6.750 .1550 6.595 11/01/2026
600071372 GRATTAN-SMITH,JOHN D 7.000 .250 6.750 .1550 6.595 12/01/2026
600071373 MCKENZIE,STEPHEN R 7.000 .250 6.750 .1550 6.595 01/01/2027
600071374 SCHNEIDER,CHRISTOPHER M 7.000 .250 6.750 .1550 6.595 01/01/2027
600071375 DITTMEIER,JOHN B 7.000 .250 6.750 .1550 6.595 12/01/2026
600071376 MYERS,STEVEN R 7.000 .250 6.750 .1550 6.595 01/01/2027
600071377 LUHRMANN,CRAIG J 7.000 .250 6.750 .1550 6.595 01/01/2027
600071378 MULVIHILL,THOMAS C 7.000 .250 6.750 .1550 6.595 01/01/2027
600071379 STICKLEY,HARRY M 7.000 .250 6.750 .1550 6.595 11/01/2026
600071380 CLARK,ALAN W 7.000 .250 6.750 .1550 6.595 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071367 FRIES,CRAIG T 92415061 $1,530.20 19 09/01/1997 360
600071368 MONBERG,JASON 92414120 $2,332.55 2 09/01/1997 360
600071369 BENES,LAURENT 92413532 $1,769.70 09/01/1997 360
600071370 WEINSHANK,ARTHUR C 92413422 $3,326.51 09/01/1997 360
600071371 CANTWELL,KAREN A 92412810 $1,396.47 09/01/1997 360
600071372 GRATTAN-SMITH,JOHN D 92412546 $1,729.79 09/01/1997 360
600071373 MCKENZIE,STEPHEN R 92411088 $1,630.00 09/01/1997 360
600071374 SCHNEIDER,CHRISTOPHER M 92410625 $1,646.62 2 09/01/1997 360
600071375 DITTMEIER,JOHN B 92409462 $1,563.46 3 09/01/1997 360
600071376 MYERS,STEVEN R 92408064 $1,736.44 19 09/01/1997 360
600071377 LUHRMANN,CRAIG J 92407892 $2,395.09 09/01/1997 360
600071378 MULVIHILL,THOMAS C 92407202 $1,995.91 09/01/1997 360
600071379 STICKLEY,HARRY M 92405610 $908.14 19 09/01/1997 360
600071380 CLARK,ALAN W 92403712 $1,746.42 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071367 FRIES,CRAIG T 2.00 2.75 12.00 2.750 2.500 2.345 $272,000.00 N
600071368 MONBERG,JASON 2.00 2.75 12.00 2.750 2.500 2.345 $390,000.00 N
600071369 BENES,LAURENT 2.00 2.75 12.00 2.750 2.500 2.345 $333,000.00 N
600071370 WEINSHANK,ARTHUR C 2.00 2.75 12.00 2.750 2.500 2.345 $850,000.00 N
600071371 CANTWELL,KAREN A 2.00 2.75 12.00 2.750 2.500 2.345 $279,990.00 N
600071372 GRATTAN-SMITH,JOHN D 2.00 2.75 12.00 2.750 2.500 2.345 $325,000.00 N
600071373 MCKENZIE,STEPHEN R 2.00 2.75 12.00 2.750 2.500 2.345 $725,000.00 N
600071374 SCHNEIDER,CHRISTOPHER M 2.00 2.75 12.00 2.750 2.500 2.345 $275,000.00 N
600071375 DITTMEIER,JOHN B 2.00 2.75 12.00 2.750 2.500 2.345 $275,000.00 N
600071376 MYERS,STEVEN R 2.00 2.75 12.00 2.750 2.500 2.345 $290,000.00 N
600071377 LUHRMANN,CRAIG J 2.00 2.75 12.00 2.750 2.500 2.345 $488,500.00 N
600071378 MULVIHILL,THOMAS C 2.00 2.75 12.00 2.750 2.500 2.345 $385,000.00 N
600071379 STICKLEY,HARRY M 2.00 2.75 12.00 2.750 2.500 2.345 $146,500.00 N
600071380 CLARK,ALAN W 2.00 2.75 12.00 2.750 2.500 2.345 $328,180.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071381 ALLEN,JOSEPH C 106 INDIAN HILL ROA WILTON CT 6897 $322,264.99
600071382 BRODERICK,ROBERT P 2813 HUNTERDON DRIVE CINNAMINSO NJ 8077 $149,481.40
600071383 MERAZ,JULIO C 5225 ARYSHIRE DRIVE DUBLIN OH 43017 $372,835.77
600071385 FIKE,DAVID J 70 MOUNTAIN AVENUE MENDHAM NJ 7945 $261,470.69
600071387 DONOHUE,JOHN C 5 HUNTER LANE MEDWAY MA 2053 $239,250.71
600071388 MUI,MICHELLE H 101 GROVE STREET UN STAMFORD CT 6906 $107,785.62
600071390 HU,GARRICK T 5010 DOE CIRCLE EMMAUS PA 18049 $396,286.31
600071447 BURKE,DAVID P 8 KIMBERLY DRIVE REDDING CT 6896 $387,722.71
600071448 KASPER,KEVIN J 14 CALLISON LANE VOORHEES NJ 8043 $435,740.67
600071449 TRAN-LE,TRI E 3006 CLAY STREET SAN FRANCI CA 94115 $894,744.71
600071450 OSBORNE,ROBERT P 2803 BIXLEY HILL CT WOODBRIDGE VA 22191 $228,609.61
600071451 TEETS,MARK W 2802 BIG BEAR DRIVE SEDALIA CO 80135 $427,121.96
600071452 MAZZEO,EDGARDO M 13282 SWASCENSION DRIVE TIGARD OR 97223 $243,260.84
600071453 WURTZLER,JAY A 11616 ANGELIQUE STREE SAN DIEGO CA 92131 $312,265.63
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071381 ALLEN,JOSEPH C 7.000 .250 6.750 .1550 6.595 11/01/2026
600071382 BRODERICK,ROBERT P 7.000 .250 6.750 .1550 6.595 11/01/2026
600071383 MERAZ,JULIO C 7.000 .250 6.750 .1550 6.595 11/01/2026
600071385 FIKE,DAVID J 7.000 .250 6.750 .1550 6.595 11/01/2026
600071387 DONOHUE,JOHN C 7.000 .250 6.750 .1550 6.595 11/01/2026
600071388 MUI,MICHELLE H 7.000 .250 6.750 .1550 6.595 10/01/2026
600071390 HU,GARRICK T 7.000 .250 6.750 .1550 6.595 10/01/2026
600071447 BURKE,DAVID P 7.000 .250 6.750 .1550 6.595 02/01/2027
600071448 KASPER,KEVIN J 7.000 .250 6.750 .1550 6.595 02/01/2027
600071449 TRAN-LE,TRI E 7.000 .250 6.750 .1550 6.595 02/01/2027
600071450 OSBORNE,ROBERT P 7.000 .250 6.750 .1550 6.595 01/01/2027
600071451 TEETS,MARK W 7.000 .250 6.750 .1550 6.595 01/01/2027
600071452 MAZZEO,EDGARDO M 7.000 .250 6.750 .1550 6.595 01/01/2027
600071453 WURTZLER,JAY A 7.000 .250 6.750 .1550 6.595 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071381 ALLEN,JOSEPH C 92403151 $2,162.23 09/01/1997 360
600071382 BRODERICK,ROBERT P 92402729 $1,002.94 19 09/01/1997 360
600071383 MERAZ,JULIO C 92401796 $2,501.54 09/01/1997 360
600071385 FIKE,DAVID J 92401482 $1,754.40 1 09/01/1997 360
600071387 DONOHUE,JOHN C 91899087 $1,611.03 2 09/01/1997 360
600071388 MUI,MICHELLE H 91898934 $745.14 09/01/1997 360
600071390 HU,GARRICK T 91892616 $2,661.21 2 09/01/1997 360
600071447 BURKE,DAVID P 92418129 $2,594.68 09/01/1997 360
600071448 KASPER,KEVIN J 92417368 $2,916.02 19 09/01/1997 360
600071449 TRAN-LE,TRI E 92416796 $5,987.72 09/01/1997 360
600071450 OSBORNE,ROBERT P 92416654 $1,531.19 14 09/01/1997 360
600071451 TEETS,MARK W 92416640 $2,860.81 09/01/1997 360
600071452 MAZZEO,EDGARDO M 92416092 $1,629.33 09/01/1997 360
600071453 WURTZLER,JAY A 92413971 $2,095.38 1 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071381 ALLEN,JOSEPH C 2.00 2.75 12.00 2.750 2.500 2.345 $530,000.00 N
600071382 BRODERICK,ROBERT P 2.00 2.75 12.00 2.750 2.500 2.345 $167,500.00 N
600071383 MERAZ,JULIO C 2.00 2.75 12.00 2.750 2.500 2.345 $470,000.00 N
600071385 FIKE,DAVID J 2.00 2.75 12.00 2.750 2.500 2.345 $293,000.00 N
600071387 DONOHUE,JOHN C 2.00 2.75 12.00 2.750 2.500 2.345 $254,900.00 N
600071388 MUI,MICHELLE H 2.00 2.75 12.00 2.750 2.500 2.345 $140,000.00 N
600071390 HU,GARRICK T 2.00 2.75 12.00 2.750 2.500 2.345 $499,900.00 N
600071447 BURKE,DAVID P 2.00 2.75 12.00 2.750 2.500 2.345 $600,000.00 N
600071448 KASPER,KEVIN J 2.00 2.75 12.00 2.750 2.500 2.345 $487,000.00 N
600071449 TRAN-LE,TRI E 2.00 2.75 12.00 2.750 2.500 2.345 $1,200,000.00 N
600071450 OSBORNE,ROBERT P 2.00 2.75 12.00 2.750 2.500 2.345 $242,300.00 N
600071451 TEETS,MARK W 2.00 2.75 12.00 2.750 2.500 2.345 $667,000.00 N
600071452 MAZZEO,EDGARDO M 2.00 2.75 12.00 2.750 2.500 2.345 $341,900.00 N
600071453 WURTZLER,JAY A 2.00 2.75 12.00 2.750 2.500 2.345 $349,990.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071454 NUSSBAUM,JAMES W 465 WINDING ROSE DR ROCKVILLE MD 20850 $244,651.51
600071455 COOK,TED M 1318 FOREST HILLS CO SOUTHLAKE TX 76092 $322,545.61
600071456 MARTIN,MATHEW 160 CRANE DRIVE SAN ANSELM CA 94960 $367,839.45
600071457 HILL,DAVID F 13200 WOODSON OVERLAND P KS 66209 $438,265.12
600071458 MCCLUREIII,HOWARD H 15 TANGLEWOOD DRIV SUMMIT NJ 7901 $322,545.70
600071459 WILLIAMS,RICHARD K 3015 ROSEMOOR LANE FAIRFAX VA 22031 $264,094.42
600071460 LYMAN,BARRY H 2 FOX RUN ROAD ALLENDALE NJ 7401 $297,734.46
600071461 REILLY,MARK S 11100 KILRENNY COURT LOUISVILLE KY 40241 $104,500.77
600071462 HEDBABNY,STEPHAN 75 LOUGHLIN AVENUE COS COB CT 6807 $348,547.86
600071463 SLOSMAN,MARVIN L 430 AUTRY RIDGE POI ALPHARETTA GA 30202 $272,923.29
600071464 WEATHERLY,JOHN A 8441 PORTER LANE ALEXANDRIA VA 22308 $226,441.59
600071465 PERRIN JR,ROBERT L 4409 HERITAGE LANE LONG GROVE IL 60047 $479,104.38
600071467 SIMEUR,MICHAEL A 1624 ALAN COURT NAPERVILLE IL 60564 $266,214.80
600071470 JOHNSON,MARK 2758 HUNTERS WAY BLOOMFIELD MI 48304 $232,818.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071454 NUSSBAUM,JAMES W 7.000 .250 6.750 .1550 6.595 01/01/2027
600071455 COOK,TED M 7.000 .250 6.750 .1550 6.595 12/01/2026
600071456 MARTIN,MATHEW 7.000 .250 6.750 .1550 6.595 02/01/2027
600071457 HILL,DAVID F 7.000 .250 6.750 .1550 6.595 12/01/2026
600071458 MCCLUREIII,HOWARD H 7.000 .250 6.750 .1550 6.595 12/01/2026
600071459 WILLIAMS,RICHARD K 7.000 .250 6.750 .1550 6.595 12/01/2026
600071460 LYMAN,BARRY H 7.000 .250 6.750 .1550 6.595 12/01/2026
600071461 REILLY,MARK S 7.000 .250 6.750 .1550 6.595 10/01/2026
600071462 HEDBABNY,STEPHAN 7.000 .250 6.750 .1550 6.595 12/01/2026
600071463 SLOSMAN,MARVIN L 7.000 .250 6.750 .1550 6.595 12/01/2026
600071464 WEATHERLY,JOHN A 7.000 .250 6.750 .1550 6.595 10/01/2026
600071465 PERRIN JR,ROBERT L 7.000 .250 6.750 .1550 6.595 12/01/2026
600071467 SIMEUR,MICHAEL A 7.000 .250 6.750 .1550 6.595 03/01/2027
600071470 JOHNSON,MARK 7.000 .250 6.750 .1550 6.595 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071454 NUSSBAUM,JAMES W 92413682 $1,638.64 19 09/01/1997 360
600071455 COOK,TED M 92413597 $2,162.24 09/01/1997 360
600071456 MARTIN,MATHEW 92413427 $2,461.62 09/01/1997 360
600071457 HILL,DAVID F 92410335 $2,937.98 09/01/1997 360
600071458 MCCLUREIII,HOWARD H 92406220 $2,162.23 09/01/1997 360
600071459 WILLIAMS,RICHARD K 92406007 $1,773.03 09/01/1997 360
600071460 LYMAN,BARRY H 92403981 $1,995.91 09/01/1997 360
600071461 REILLY,MARK S 92403980 $704.56 09/01/1997 360
600071462 HEDBABNY,STEPHAN 92403682 $2,336.54 09/01/1997 360
600071463 SLOSMAN,MARVIN L 92402792 $1,829.58 09/01/1997 360
600071464 WEATHERLY,JOHN A 91898137 $1,523.22 14 09/01/1997 360
600071465 PERRIN JR,ROBERT L 91897241 $3,211.75 09/01/1997 360
600071467 SIMEUR,MICHAEL A 91894613 $1,780.02 09/01/1997 360
600071470 JOHNSON,MARK 92401265 $1,563.46 1 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071454 NUSSBAUM,JAMES W 2.00 2.75 12.00 2.750 2.500 2.345 $259,280.00 N
600071455 COOK,TED M 2.00 2.75 12.00 2.750 2.500 2.345 $406,794.00 N
600071456 MARTIN,MATHEW 2.00 2.75 12.00 2.750 2.500 2.345 $540,000.00 N
600071457 HILL,DAVID F 2.00 2.75 12.00 2.750 2.500 2.345 $552,000.00 N
600071458 MCCLUREIII,HOWARD H 2.00 2.75 12.00 2.750 2.500 2.345 $472,000.00 N
600071459 WILLIAMS,RICHARD K 2.00 2.75 12.00 2.750 2.500 2.345 $376,533.00 N
600071460 LYMAN,BARRY H 2.00 2.75 12.00 2.750 2.500 2.345 $389,900.00 N
600071461 REILLY,MARK S 2.00 2.75 12.00 2.750 2.500 2.345 $155,900.00 N
600071462 HEDBABNY,STEPHAN 2.00 2.75 12.00 2.750 2.500 2.345 $439,000.00 N
600071463 SLOSMAN,MARVIN L 2.00 2.75 12.00 2.750 2.500 2.345 $405,000.00 N
600071464 WEATHERLY,JOHN A 2.00 2.75 12.00 2.750 2.500 2.345 $241,000.00 N
600071465 PERRIN JR,ROBERT L 2.00 2.75 12.00 2.750 2.500 2.345 $635,000.00 N
600071467 SIMEUR,MICHAEL A 2.00 2.75 12.00 2.750 2.500 2.345 $334,473.07 N
600071470 JOHNSON,MARK 2.00 2.75 12.00 2.750 2.500 2.345 $265,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071471 MINER,JOHN R 5035 VILLAGE DRIVE CINCINNATI OH 45244 $233,627.71
600071472 CHORNEY,JEFFREY R 25 MANOR HOUSE DRI CHERRY HIL NJ 8003 $232,831.12
600071473 WRIGHT,ROBERT E 105 STROLL ROCK COM FAIRFIELD CT 6430 $608,426.39
600071474 FLYNN,TIMOTHY P 781 WOODED TRAIL FRANKLIN L NJ 7417 $646,756.20
600071475 BARNES,EDWARD J 19 PINEWOOD ROAD STAMFORD CT 6902 $286,562.75
600071476 REED,DONALD J 71 JOHN STREET WYCKOFF NJ 7481 $253,511.00
600071477 SEDRA,MAHER 310 1/2 EAST LEAMIN WILDWOOD NJ 8260 $69,982.63
600071478 SCHOTT,JAMES A 78 SAUNDERS LA RIDGEFIELD CT 6877 $305,109.96
600071479 GIGLIO,KEITH L 16848 LIVORNO DRIVE PACIFIC PA CA 90272 $425,500.84
600071480 MCGHIE,AUSTIN L 88 PASEO MIRASOL TIBURON CA 94920 $930,333.95
600071481 WOLFORD,DONALD R 8922 BRADFORD COURT WICHITA KS 67206 $194,688.18
600071482 WARD,BRIAN P 410 THAYER POND ROA WILTON CT 6897 $345,281.88
600071483 SELZER,MARY O 134 RIDGECREST RD. STAMFORD CT 6903 $522,575.12
600071484 TOVAR,HENRY M 6317 LAURELWOOD BRENTWOOD TN 37027 $213,994.64
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071471 MINER,JOHN R 7.000 .250 6.750 .1550 6.595 02/01/2027
600071472 CHORNEY,JEFFREY R 7.000 .250 6.750 .1550 6.595 01/01/2027
600071473 WRIGHT,ROBERT E 7.000 .250 6.750 .1550 6.595 02/01/2027
600071474 FLYNN,TIMOTHY P 7.000 .250 6.750 .1550 6.595 03/01/2027
600071475 BARNES,EDWARD J 7.000 .250 6.750 .1550 6.595 03/01/2027
600071476 REED,DONALD J 7.000 .250 6.750 .1550 6.595 02/01/2027
600071477 SEDRA,MAHER 7.000 .250 6.750 .1550 6.595 02/01/2027
600071478 SCHOTT,JAMES A 7.000 .250 6.750 .1550 6.595 02/01/2027
600071479 GIGLIO,KEITH L 7.000 .250 6.750 .1550 6.595 02/01/2027
600071480 MCGHIE,AUSTIN L 7.000 .250 6.750 .1550 6.595 03/01/2027
600071481 WOLFORD,DONALD R 7.000 .250 6.750 .1550 6.595 01/01/2027
600071482 WARD,BRIAN P 7.000 .250 6.750 .1550 6.595 01/01/2027
600071483 SELZER,MARY O 7.000 .250 6.750 .1550 6.595 12/01/2026
600071484 TOVAR,HENRY M 7.000 .250 6.750 .1550 6.595 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071471 MINER,JOHN R 92423902 $1,563.47 09/01/1997 360
600071472 CHORNEY,JEFFREY R 92420146 $1,559.47 09/01/1997 360
600071473 WRIGHT,ROBERT E 92418863 $4,071.65 09/01/1997 360
600071474 FLYNN,TIMOTHY P 92418731 $4,324.47 09/01/1997 360
600071475 BARNES,EDWARD J 92418641 $1,916.07 3 09/01/1997 360
600071476 REED,DONALD J 92418236 $1,696.52 19 09/01/1997 360
600071477 SEDRA,MAHER 92416591 $498.98 09/01/1997 360
600071478 SCHOTT,JAMES A 92416558 $2,044.14 09/01/1997 360
600071479 GIGLIO,KEITH L 92414100 $2,847.49 09/01/1997 360
600071480 MCGHIE,AUSTIN L 92413728 $6,220.58 09/01/1997 360
600071481 WOLFORD,DONALD R 92409941 $1,303.99 09/01/1997 360
600071482 WARD,BRIAN P 92407140 $2,328.56 09/01/1997 360
600071483 SELZER,MARY O 92406583 $3,512.80 09/01/1997 360
600071484 TOVAR,HENRY M 92400901 $1,437.05 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071471 MINER,JOHN R 2.00 2.75 12.00 2.750 2.500 2.345 $327,500.00 N
600071472 CHORNEY,JEFFREY R 2.00 2.75 12.00 2.750 2.500 2.345 $293,000.00 N
600071473 WRIGHT,ROBERT E 2.00 2.75 12.00 2.750 2.500 2.345 $765,000.00 N
600071474 FLYNN,TIMOTHY P 2.00 2.75 12.00 2.750 2.500 2.345 $858,600.00 N
600071475 BARNES,EDWARD J 2.00 2.75 12.00 2.750 2.500 2.345 $321,000.00 N
600071476 REED,DONALD J 2.00 2.75 12.00 2.750 2.500 2.345 $287,500.00 N
600071477 SEDRA,MAHER 2.00 2.75 12.00 2.750 2.500 2.345 $105,000.00 N
600071478 SCHOTT,JAMES A 2.00 2.75 12.00 2.750 2.500 2.345 $455,000.00 N
600071479 GIGLIO,KEITH L 2.00 2.75 12.00 2.750 2.500 2.345 $535,000.00 N
600071480 MCGHIE,AUSTIN L 2.00 2.75 12.00 2.750 2.500 2.345 $1,335,000.00 N
600071481 WOLFORD,DONALD R 2.00 2.75 12.00 2.750 2.500 2.345 $245,000.00 N
600071482 WARD,BRIAN P 2.00 2.75 12.00 2.750 2.500 2.345 $640,000.00 N
600071483 SELZER,MARY O 2.00 2.75 12.00 2.750 2.500 2.345 $660,000.00 N
600071484 TOVAR,HENRY M 2.00 2.75 12.00 2.750 2.500 2.345 $240,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071492 HANDY,PAUL T 2312 ORCHARD CREST B MANASQUAN NJ 8736 $251,870.95
600071493 NASCA,THOMAS J 12 ALLYSSA CIRCLE MALVERN PA 19355 $482,825.46
600071494 BUSEY,SAMUEL H 43106 DIFRANK COURT ASHBURN VA 20147 $212,497.36
600071495 BULLOCK,GREG A 2926 NWAURORA DR HILLSBORO OR 97124 $238,230.42
600071496 MAZMANIAN,DANIEL A 406 AWIXA ANN ARBOR MI 48104 $311,551.57
600071497 ADAMS,REBECCA C 7402 RIPPON ROAD ALEXANDRIA VA 22307 $220,821.11
600071498 HOFFMANN,LISA R 2 JASON CT. BROOKFIELD CT 6804 $304,416.08
600071502 YOUNG,J.CRAIG 123 S THIRD ST LEWISBURG PA 17837 $213,051.63
600071510 HAWKINSIII,ANDREW L 4215 CHABOYA ROAD SAN JOSE CA 95148 $436,697.22
600071511 BANQUER,DAVID P 27 GREAT HOLLOW DR MONROE CT 6468 $238,477.90
600071512 DADOURIAN,STEPHEN 27 EDGEMONT AVENUE SUMMIT NJ 7901 $286,118.77
600071513 ABRAHAMS,PAUL C 30 SCODON DR RIDGEFIELD CT 6877 $270,024.56
600071514 ROTHSTEIN,JEFFREY 4 NURSERY LANE WESTPORT CT 6880 $342,746.44
600071515 HUNSICKER,GERALD H 11914 COBBLESTONE ROA HOUSTON TX 77024 $620,917.49
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071492 HANDY,PAUL T 7.000 .250 6.750 .1550 6.595 01/01/2027
600071493 NASCA,THOMAS J 7.125 .250 6.875 .1550 6.720 01/01/2027
600071494 BUSEY,SAMUEL H 7.125 .250 6.875 .1550 6.720 01/01/2027
600071495 BULLOCK,GREG A 7.125 .250 6.875 .1550 6.720 12/01/2026
600071496 MAZMANIAN,DANIEL A 7.125 .250 6.875 .1550 6.720 01/01/2027
600071497 ADAMS,REBECCA C 7.125 .250 6.875 .1550 6.720 11/01/2026
600071498 HOFFMANN,LISA R 7.125 .250 6.875 .1550 6.720 10/01/2026
600071502 YOUNG,J.CRAIG 7.125 .250 6.875 .1550 6.720 10/01/2026
600071510 HAWKINSIII,ANDREW L 7.125 .250 6.875 .1550 6.720 02/01/2027
600071511 BANQUER,DAVID P 7.125 .250 6.875 .1550 6.720 02/01/2027
600071512 DADOURIAN,STEPHEN 7.125 .250 6.875 .1550 6.720 01/01/2027
600071513 ABRAHAMS,PAUL C 7.125 .250 6.875 .1550 6.720 01/01/2027
600071514 ROTHSTEIN,JEFFREY 7.125 .250 6.875 .1550 6.720 01/01/2027
600071515 HUNSICKER,GERALD H 7.125 .250 6.875 .1550 6.720 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071492 HANDY,PAUL T 91868983 $1,687.04 09/01/1997 360
600071493 NASCA,THOMAS J 92415540 $3,274.27 09/01/1997 360
600071494 BUSEY,SAMUEL H 92415317 $1,445.13 09/01/1997 360
600071495 BULLOCK,GREG A 92411350 $1,616.93 09/01/1997 360
600071496 MAZMANIAN,DANIEL A 92411336 $2,112.78 09/01/1997 360
600071497 ADAMS,REBECCA C 92407735 $1,500.04 09/01/1997 360
600071498 HOFFMANN,LISA R 91898660 $2,069.66 09/01/1997 360
600071502 YOUNG,J.CRAIG 91896903 $1,448.49 09/01/1997 360
600071510 HAWKINSIII,ANDREW L 92419109 $2,958.97 09/01/1997 360
600071511 BANQUER,DAVID P 92416608 $1,617.26 19 09/01/1997 360
600071512 DADOURIAN,STEPHEN 92416288 $1,940.31 09/01/1997 360
600071513 ABRAHAMS,PAUL C 92415975 $1,831.17 2 09/01/1997 360
600071514 ROTHSTEIN,JEFFREY 92415806 $2,324.33 09/01/1997 360
600071515 HUNSICKER,GERALD H 92414814 $4,210.74 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071492 HANDY,PAUL T 2.00 2.75 12.00 2.750 2.500 2.345 $338,000.00 N
600071493 NASCA,THOMAS J 2.00 2.75 12.13 2.750 2.500 2.345 $740,000.00 N
600071494 BUSEY,SAMUEL H 2.00 2.75 12.13 2.750 2.500 2.345 $286,000.00 N
600071495 BULLOCK,GREG A 2.00 2.75 12.13 2.750 2.500 2.345 $300,000.00 N
600071496 MAZMANIAN,DANIEL A 2.00 2.75 12.13 2.750 2.500 2.345 $392,000.00 N
600071497 ADAMS,REBECCA C 2.00 2.75 12.13 2.750 2.500 2.345 $296,900.00 N
600071498 HOFFMANN,LISA R 2.00 2.75 12.13 2.750 2.500 2.345 $384,000.00 N
600071502 YOUNG,J.CRAIG 2.00 2.75 12.13 2.750 2.500 2.345 $270,000.00 N
600071510 HAWKINSIII,ANDREW L 2.00 2.75 12.13 2.750 2.500 2.345 $549,000.00 N
600071511 BANQUER,DAVID P 2.00 2.75 12.13 2.750 2.500 2.345 $266,750.00 N
600071512 DADOURIAN,STEPHEN 2.00 2.75 12.13 2.750 2.500 2.345 $360,000.00 N
600071513 ABRAHAMS,PAUL C 2.00 2.75 12.13 2.750 2.500 2.345 $302,000.00 N
600071514 ROTHSTEIN,JEFFREY 2.00 2.75 12.13 2.750 2.500 2.345 $490,000.00 N
600071515 HUNSICKER,GERALD H 2.00 2.75 12.13 2.750 2.500 2.345 $799,350.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071516 MOORE,STEPHEN 1355 SUNSET SPRINGS WESTON FL 33326 $225,020.51
600071517 STEPHENS,WADE 1441 MOORES MILL ROA ATLANTA GA 30327 $244,442.84
600071518 LIZZIO,JOSEPH C 11 VALLEY RD NEW CANAAN CT 6840 $350,139.31
600071519 ARCHEY,PAUL J 60 ECHO DRIVE NORT DARIEN CT 6820 $221,543.38
600071521 HORNUNG,ROBERT E 25 WESTWAY ROAD SOUTHPORT CT 6490 $422,578.17
600071522 BLAZER,RANDOLPH C 11419 CEDAR RIDGE DR. POTOMAC MD 20854 $292,925.01
600071523 MORCK,STEPHEN J 12335 PLEASANT VIEW D FULTON MD 20759 $306,619.07
600071524 DZIEWISZ,MICHAEL S 119 CRYSTAL SPRINGS CRANBERRY PA 16066 $255,321.24
600071525 YARDENI,OFER J 6 VALERIE DRIVE UPPERBROOK NY 11545 $528,524.99
600071526 ROTH,HADLEY 516 5TH STREET MANHATTEN CA 90266 $412,933.87
600071527 CUTSHAW,ROBIN K 773 CUMBERLAND ROAD ATLANTA GA 30306 $356,295.71
600071528 PURVIS,JACK B 14420 WALTERS ROAD UN HOUSTON TX 77014 $91,836.64
600071529 HILDEBRAND,WILLIAM B 30 SETH LOW MOUNTA RIDGEFIELD CT 6877 $246,380.08
600071530 BROWNE,JON 2322 MAPLE NORTHBROOK IL 60062 $415,316.15
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071516 MOORE,STEPHEN 7.125 .250 6.875 .1550 6.720 01/01/2027
600071517 STEPHENS,WADE 7.125 .250 6.875 .1550 6.720 01/01/2027
600071518 LIZZIO,JOSEPH C 7.125 .250 6.875 .1550 6.720 01/01/2027
600071519 ARCHEY,PAUL J 7.125 .250 6.875 .1550 6.720 01/01/2027
600071521 HORNUNG,ROBERT E 7.125 .250 6.875 .1550 6.720 02/01/2027
600071522 BLAZER,RANDOLPH C 7.125 .250 6.875 .1550 6.720 12/01/2026
600071523 MORCK,STEPHEN J 7.125 .250 6.875 .1550 6.720 02/01/2027
600071524 DZIEWISZ,MICHAEL S 7.125 .250 6.875 .1550 6.720 01/01/2027
600071525 YARDENI,OFER J 7.125 .250 6.875 .1550 6.720 01/01/2027
600071526 ROTH,HADLEY 7.125 .250 6.875 .1550 6.720 12/01/2026
600071527 CUTSHAW,ROBIN K 7.125 .250 6.875 .1550 6.720 12/01/2026
600071528 PURVIS,JACK B 7.125 .250 6.875 .1550 6.720 01/01/2027
600071529 HILDEBRAND,WILLIAM B 7.125 .250 6.875 .1550 6.720 01/01/2027
600071530 BROWNE,JON 7.125 .250 6.875 .1550 6.720 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071516 MOORE,STEPHEN 92414668 $1,525.97 19 09/01/1997 360
600071517 STEPHENS,WADE 92414546 $1,657.68 3 09/01/1997 360
600071518 LIZZIO,JOSEPH C 92413776 $2,391.70 09/01/1997 360
600071519 ARCHEY,PAUL J 92413424 $1,502.39 09/01/1997 360
600071521 HORNUNG,ROBERT E 92412906 $2,863.30 09/01/1997 360
600071522 BLAZER,RANDOLPH C 92412740 $1,988.14 09/01/1997 360
600071523 MORCK,STEPHEN J 92412097 $2,080.11 09/01/1997 360
600071524 DZIEWISZ,MICHAEL S 92411905 $1,731.46 09/01/1997 360
600071525 YARDENI,OFER J 92410504 $3,584.18 09/01/1997 360
600071526 ROTH,HADLEY 92410446 $2,802.67 09/01/1997 360
600071527 CUTSHAW,ROBIN K 92409469 $2,425.39 09/01/1997 360
600071528 PURVIS,JACK B 92409132 $625.21 09/01/1997 360
600071529 HILDEBRAND,WILLIAM B 92407828 $1,670.82 09/01/1997 360
600071530 BROWNE,JON 92406796 $2,818.84 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071516 MOORE,STEPHEN 2.00 2.75 12.13 2.750 2.500 2.345 $238,500.00 N
600071517 STEPHENS,WADE 2.00 2.75 12.13 2.750 2.500 2.345 $259,000.00 N
600071518 LIZZIO,JOSEPH C 2.00 2.75 12.13 2.750 2.500 2.345 $700,000.00 N
600071519 ARCHEY,PAUL J 2.00 2.75 12.13 2.750 2.500 2.345 $500,000.00 N
600071521 HORNUNG,ROBERT E 2.00 2.75 12.13 2.750 2.500 2.345 $790,000.00 N
600071522 BLAZER,RANDOLPH C 2.00 2.75 12.13 2.750 2.500 2.345 $368,888.00 N
600071523 MORCK,STEPHEN J 2.00 2.75 12.13 2.750 2.500 2.345 $407,000.00 N
600071524 DZIEWISZ,MICHAEL S 2.00 2.75 12.13 2.750 2.500 2.345 $357,000.00 N
600071525 YARDENI,OFER J 2.00 2.75 12.13 2.750 2.500 2.345 $665,000.00 N
600071526 ROTH,HADLEY 2.00 2.75 12.13 2.750 2.500 2.345 $520,000.00 N
600071527 CUTSHAW,ROBIN K 2.00 2.75 12.13 2.750 2.500 2.345 $450,000.00 N
600071528 PURVIS,JACK B 2.00 2.75 12.13 2.750 2.500 2.345 $116,025.00 N
600071529 HILDEBRAND,WILLIAM B 2.00 2.75 12.13 2.750 2.500 2.345 $310,000.00 N
600071530 BROWNE,JON 2.00 2.75 12.13 2.750 2.500 2.345 $523,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071531 PARKER,C. K 1346 MARSH HARBOR DR JACKSONVIL FL 32225 $241,003.98
600071532 EHLERS,ROBERT W 1821 YALE DRIVE ALAMEDA CA 94501 $282,460.68
600071533 TERRELL,MARK C 7367 SAWGRASS POINT PINELLAS P FL 33782 $475,263.87
600071534 REISCH,DENNIS P 5890 WOOD THROUSH DR WEST CHEST OH 45069 $216,209.33
600071535 SEXTON,JOHN K 1711 CROSS CREEK DRI SENECA SC 29678 $228,110.81
600071536 LEV,PETER M 44 NOTTINGHAM RD MANHASSET NY 11040 $319,355.15
600071537 BRING,MITCHELL A 12 PRICKLEY PEAR H CROTON-ON NY 10520 $336,750.26
600071542 MAYEWSKI,JOHN D 502 E PELHAM DRIVE TOWNSHIP O NJ 8201 $337,207.29
600071544 CLARK,AMY K 18 TARKINGTON COUR PRINCETON NJ 8540 $491,766.62
600071595 WOODSJR.,THORNTON E 1140 MAGGIE LANE WALNUT CRE CA 94596 $236,044.88
600071596 YOSHIDA,THOMAS T 13934 CHESTER AVENUE SARATOGA CA 95070 $550,345.90
600071597 ALDANA,JOE H 21 HOLLYLEAF ALISO VIEJ CA 92656 $219,655.70
600071598 KIRBY,JOHN 31 COTSWOLDS DRIVE NORTH SALE NY 10560 $225,547.70
600071599 MCGOWAN,KERRY E 550 ORTEGA AVENUE - MOUNTAIN V CA 94040 $138,207.89
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071531 PARKER,C. K 7.125 .250 6.875 .1550 6.720 11/01/2026
600071532 EHLERS,ROBERT W 7.125 .250 6.875 .1550 6.720 11/01/2026
600071533 TERRELL,MARK C 7.125 .250 6.875 .1550 6.720 11/01/2026
600071534 REISCH,DENNIS P 7.125 .250 6.875 .1550 6.720 11/01/2026
600071535 SEXTON,JOHN K 7.125 .250 6.875 .1550 6.720 11/01/2026
600071536 LEV,PETER M 7.125 .250 6.875 .1550 6.720 11/01/2026
600071537 BRING,MITCHELL A 7.125 .250 6.875 .1550 6.720 10/01/2026
600071542 MAYEWSKI,JOHN D 7.125 .250 6.875 .1550 6.720 11/01/2026
600071544 CLARK,AMY K 7.125 .250 6.875 .1550 6.720 01/01/2027
600071595 WOODSJR.,THORNTON E 7.125 .250 6.875 .1550 6.720 03/01/2027
600071596 YOSHIDA,THOMAS T 7.125 .250 6.875 .1550 6.720 02/01/2027
600071597 ALDANA,JOE H 7.125 .250 6.875 .1550 6.720 01/01/2027
600071598 KIRBY,JOHN 7.125 .250 6.875 .1550 6.720 02/01/2027
600071599 MCGOWAN,KERRY E 7.125 .250 6.875 .1550 6.720 02/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071531 PARKER,C. K 92406653 $1,637.14 09/01/1997 360
600071532 EHLERS,ROBERT W 92406263 $1,918.75 09/01/1997 360
600071533 TERRELL,MARK C 92405617 $3,228.46 09/01/1997 360
600071534 REISCH,DENNIS P 92405163 $1,468.71 09/01/1997 360
600071535 SEXTON,JOHN K 92401624 $1,549.55 09/01/1997 360
600071536 LEV,PETER M 91899783 $2,169.37 09/01/1997 360
600071537 BRING,MITCHELL A 91899781 $2,317.59 09/01/1997 360
600071542 MAYEWSKI,JOHN D 91888971 $2,290.64 09/01/1997 360
600071544 CLARK,AMY K 91880261 $3,334.91 09/01/1997 360
600071595 WOODSJR.,THORNTON E 92417610 $1,598.06 09/01/1997 360
600071596 YOSHIDA,THOMAS T 92416984 $3,729.03 09/01/1997 360
600071597 ALDANA,JOE H 92414659 $1,489.60 1 09/01/1997 360
600071598 KIRBY,JOHN 92414430 $1,589.98 09/01/1997 360
600071599 MCGOWAN,KERRY E 92413880 $936.47 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071531 PARKER,C. K 2.00 2.75 12.13 2.750 2.500 2.345 $343,000.00 N
600071532 EHLERS,ROBERT W 2.00 2.75 12.13 2.750 2.500 2.345 $356,000.00 N
600071533 TERRELL,MARK C 2.00 2.75 12.13 2.750 2.500 2.345 $599,000.00 N
600071534 REISCH,DENNIS P 2.00 2.75 12.13 2.750 2.500 2.345 $272,500.00 N
600071535 SEXTON,JOHN K 2.00 2.75 12.13 2.750 2.500 2.345 $287,600.00 N
600071536 LEV,PETER M 2.00 2.75 12.13 2.750 2.500 2.345 $405,000.00 N
600071537 BRING,MITCHELL A 2.00 2.75 12.13 2.750 2.500 2.345 $430,000.00 N
600071542 MAYEWSKI,JOHN D 2.00 2.75 12.13 2.750 2.500 2.345 $475,000.00 N
600071544 CLARK,AMY K 2.00 2.75 12.13 2.750 2.500 2.345 $708,000.00 N
600071595 WOODSJR.,THORNTON E 2.00 2.75 12.13 2.750 2.500 2.345 $302,500.00 N
600071596 YOSHIDA,THOMAS T 2.00 2.75 12.13 2.750 2.500 2.345 $950,000.00 N
600071597 ALDANA,JOE H 2.00 2.75 12.13 2.750 2.500 2.345 $245,675.00 N
600071598 KIRBY,JOHN 2.00 2.75 12.13 2.750 2.500 2.345 $295,000.00 N
600071599 MCGOWAN,KERRY E 2.00 2.75 12.13 2.750 2.500 2.345 $174,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071600 APREA,DAVID J 100 GREENWAY TERRAC MAHOPAC NY 10541 $223,717.81
600071601 K.COUCHE,JO A 2012 LYNN AVENUE LOS GATOS CA 95032 $182,395.65
600071602 AZZARITO,JAMES 683 PONUS RIDGE ROA NEW CANAAN CT 6840 $556,666.66
600071606 JONES,PAUL N 8 BIRDSALL FARM D ARMONK NY 10504 $626,012.24
600071607 PFEIFFER,JAMES 2369 THACKERY DRIVE OAKLAND CA 94611 $219,740.62
600071608 MAKELA,GREGORY S 213 WHITE OAK SHADE NEW CANAAN CT 6840 $348,005.56
600071609 BURT,MICHAEL T 523 S SIXTH STREET SAN JOSE CA 95112 $334,600.04
600071610 FOWLER,ROBERT G 15693 E PROGRESS CIRCLE AURORA CO 80015 $343,232.84
600071611 GIESINGER,EDGAR R 1915 SANDGATE FALLS HOUSTON TX 77062 $309,668.00
600071612 VEZIN,DONOVAN 498 7TH. ST. AVALON NJ 8202 $485,324.71
600071613 DOVE,ROBERT 2574 UNION STREET SAN FRANCI CA 94123 $795,441.19
600071614 KELLY,DANNY K 3701 ROUND TREE WAY PLANO TX 75025 $382,906.81
600071615 SKLAR,MARK A 3621 ORDWAY STREET N WASINGTON DC 20016 $272,245.26
600071616 BOYER,ROBERT H 124 90TH STREET BOROUGH OF NJ 8247 $381,169.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071600 APREA,DAVID J 7.125 .250 6.875 .1550 6.720 02/01/2027
600071601 K.COUCHE,JO A 7.125 .250 6.875 .1550 6.720 12/01/2026
600071602 AZZARITO,JAMES 7.125 .250 6.875 .1550 6.720 12/01/2026
600071606 JONES,PAUL N 7.125 .250 6.875 .1550 6.720 02/01/2027
600071607 PFEIFFER,JAMES 7.125 .250 6.875 .1550 6.720 02/01/2027
600071608 MAKELA,GREGORY S 7.125 .250 6.875 .1550 6.720 02/01/2027
600071609 BURT,MICHAEL T 7.125 .250 6.875 .1550 6.720 01/01/2027
600071610 FOWLER,ROBERT G 7.125 .250 6.875 .1550 6.720 01/01/2027
600071611 GIESINGER,EDGAR R 7.125 .250 6.875 .1550 6.720 10/01/2026
600071612 VEZIN,DONOVAN 7.125 .250 6.875 .1550 6.720 03/01/2027
600071613 DOVE,ROBERT 7.125 .250 6.875 .1550 6.720 02/01/2027
600071614 KELLY,DANNY K 7.125 .250 6.875 .1550 6.720 12/01/2026
600071615 SKLAR,MARK A 7.125 .250 6.875 .1550 6.720 11/01/2026
600071616 BOYER,ROBERT H 7.125 .250 6.875 .1550 6.720 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071600 APREA,DAVID J 92412773 $1,515.87 3 09/01/1997 360
600071601 K.COUCHE,JO A 92412462 $1,237.96 09/01/1997 360
600071602 AZZARITO,JAMES 92402087 $3,778.21 09/01/1997 360
600071606 JONES,PAUL N 91895204 $4,241.73 3 09/01/1997 360
600071607 PFEIFFER,JAMES 92417864 $1,488.92 09/01/1997 360
600071608 MAKELA,GREGORY S 92416968 $2,358.01 09/01/1997 360
600071609 BURT,MICHAEL T 92416229 $2,269.08 09/01/1997 360
600071610 FOWLER,ROBERT G 92414374 $2,327.70 09/01/1997 360
600071611 GIESINGER,EDGAR R 92400529 $2,105.37 19 09/01/1997 360
600071612 VEZIN,DONOVAN 92418565 $3,285.73 09/01/1997 360
600071613 DOVE,ROBERT 92415493 $5,389.75 09/01/1997 360
600071614 KELLY,DANNY K 92414444 $2,598.87 1 09/01/1997 360
600071615 SKLAR,MARK A 92407243 $1,849.36 1 09/01/1997 360
600071616 BOYER,ROBERT H 92406945 $2,587.08 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071600 APREA,DAVID J 2.00 2.75 12.13 2.750 2.500 2.345 $260,000.00 N
600071601 K.COUCHE,JO A 2.00 2.75 12.13 2.750 2.500 2.345 $245,000.00 N
600071602 AZZARITO,JAMES 2.00 2.75 12.13 2.750 2.500 2.345 $701,000.00 N
600071606 JONES,PAUL N 2.00 2.75 12.13 2.750 2.500 2.345 $700,000.00 N
600071607 PFEIFFER,JAMES 2.00 2.75 12.13 2.750 2.500 2.345 $301,000.00 N
600071608 MAKELA,GREGORY S 2.00 2.75 12.13 2.750 2.500 2.345 $785,000.00 N
600071609 BURT,MICHAEL T 2.00 2.75 12.13 2.750 2.500 2.345 $421,000.00 N
600071610 FOWLER,ROBERT G 2.00 2.75 12.13 2.750 2.500 2.345 $431,980.00 N
600071611 GIESINGER,EDGAR R 2.00 2.75 12.13 2.750 2.500 2.345 $329,000.00 N
600071612 VEZIN,DONOVAN 2.00 2.75 12.13 2.750 2.500 2.345 $650,000.00 N
600071613 DOVE,ROBERT 2.00 2.75 12.13 2.750 2.500 2.345 $1,500,000.00 N
600071614 KELLY,DANNY K 2.00 2.75 12.13 2.750 2.500 2.345 $428,641.00 N
600071615 SKLAR,MARK A 2.00 2.75 12.13 2.750 2.500 2.345 $305,000.00 N
600071616 BOYER,ROBERT H 2.00 2.75 12.13 2.750 2.500 2.345 $480,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071626 MARSH,KEVIN M 413 OXFORD PLACE LOUISVILLE KY 40207 $120,572.12
600071627 POWERS,BRETT C 716 CHERRYTREE WAY CRANBERRY PA 16066 $286,398.51
600071628 PAUL,JOHN W 8 GREENWOOD CT HILTON HEA SC 29928 $195,607.90
600071629 DUSH,MARCIA A 8700 OVERLOOK ROAD MCLEAN VA 22102 $514,229.28
600071630 ARORA,AJAY 21306 SENECA CROSSING GERMANTOWN MD 20876 $230,827.62
600071631 COLMAN,KENDALL E 236 S MARION STREET DENVER CO 80522 $246,419.14
600071632 BARAF,ROBERT A 333 STANWICH RD. GREENWICH CT 6830 $456,557.84
600071633 BRITTAIN,BETTY L 299 INDIAN ROCK ROA NEW CANAAN CT 6840 $496,403.55
600071634 SAPOUNTZIS,THEODORE C 1099 COLEMAN AVENUE MENLO PARK CA 94025 $452,720.05
600071639 JACOBS,ZACHARY 3941 WITZEL DRIVE (SHERMAN O CA 91423 $403,401.08
600071640 THIBADEAU,JUDY K 2108 HERITAGE HEIGHT DECATUR GA 30033 $250,802.57
600071641 FIORANELLI,BARRY A 1365 N MORNINGSIDE ATLANTA GA 30306 $255,621.21
600071642 PHILLIPS III,THOMAS B 1765 GREENSWARD QUAY VIRGINIA B VA 23454 $229,019.32
600071643 BENJAMIN,MARK D 108 HARBOR VIEW LAN LARGO FL 34640 $357,998.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071626 MARSH,KEVIN M 7.250 .250 7.000 .1550 6.845 04/01/2027
600071627 POWERS,BRETT C 7.250 .250 7.000 .1550 6.845 02/01/2027
600071628 PAUL,JOHN W 7.250 .250 7.000 .1550 6.845 01/01/2027
600071629 DUSH,MARCIA A 7.250 .250 7.000 .1550 6.845 12/01/2026
600071630 ARORA,AJAY 7.250 .250 7.000 .1550 6.845 12/01/2026
600071631 COLMAN,KENDALL E 7.250 .250 7.000 .1550 6.845 01/01/2027
600071632 BARAF,ROBERT A 7.250 .250 7.000 .1550 6.845 05/01/2027
600071633 BRITTAIN,BETTY L 7.250 .250 7.000 .1550 6.845 12/01/2026
600071634 SAPOUNTZIS,THEODORE C 7.250 .250 7.000 .1550 6.845 12/01/2026
600071639 JACOBS,ZACHARY 7.250 .250 7.000 .1550 6.845 04/01/2027
600071640 THIBADEAU,JUDY K 7.250 .250 7.000 .1550 6.845 03/01/2027
600071641 FIORANELLI,BARRY A 7.250 .250 7.000 .1550 6.845 03/01/2027
600071642 PHILLIPS III,THOMAS B 7.250 .250 7.000 .1550 6.845 02/01/2027
600071643 BENJAMIN,MARK D 7.250 .250 7.000 .1550 6.845 02/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071626 MARSH,KEVIN M 92427396 $825.77 19 09/01/1997 360
600071627 POWERS,BRETT C 92417289 $1,964.67 09/01/1997 360
600071628 PAUL,JOHN W 92417218 $1,353.44 09/01/1997 360
600071629 DUSH,MARCIA A 92415315 $3,547.32 09/01/1997 360
600071630 ARORA,AJAY 92414972 $1,586.06 09/01/1997 360
600071631 COLMAN,KENDALL E 92414970 $1,691.80 09/01/1997 360
600071632 BARAF,ROBERT A 92414428 $3,124.37 09/01/1997 360
600071633 BRITTAIN,BETTY L 92408637 $3,410.88 09/01/1997 360
600071634 SAPOUNTZIS,THEODORE C 92408537 $3,110.72 09/01/1997 360
600071639 JACOBS,ZACHARY 92424826 $2,762.82 09/01/1997 360
600071640 THIBADEAU,JUDY K 92423714 $1,719.08 09/01/1997 360
600071641 FIORANELLI,BARRY A 92421091 $1,756.26 3 09/01/1997 360
600071642 PHILLIPS III,THOMAS B 92420612 $1,571.06 2 09/01/1997 360
600071643 BENJAMIN,MARK D 92419682 $2,455.83 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071626 MARSH,KEVIN M 2.00 2.75 12.25 2.750 2.500 2.345 $134,500.00 N
600071627 POWERS,BRETT C 2.00 2.75 12.25 2.750 2.500 2.345 $360,000.00 N
600071628 PAUL,JOHN W 2.00 2.75 12.25 2.750 2.500 2.345 $248,000.00 N
600071629 DUSH,MARCIA A 2.00 2.75 12.25 2.750 2.500 2.345 $659,064.79 N
600071630 ARORA,AJAY 2.00 2.75 12.25 2.750 2.500 2.345 $310,000.00 N
600071631 COLMAN,KENDALL E 2.00 2.75 12.25 2.750 2.500 2.345 $310,000.00 N
600071632 BARAF,ROBERT A 2.00 2.75 12.25 2.750 2.500 2.345 $2,700,000.00 N
600071633 BRITTAIN,BETTY L 2.00 2.75 12.25 2.750 2.500 2.345 $875,000.00 N
600071634 SAPOUNTZIS,THEODORE C 2.00 2.75 12.25 2.750 2.500 2.345 $570,000.00 N
600071639 JACOBS,ZACHARY 2.00 2.75 12.25 2.750 2.500 2.345 $580,000.00 N
600071640 THIBADEAU,JUDY K 2.00 2.75 12.25 2.750 2.500 2.345 $350,000.00 N
600071641 FIORANELLI,BARRY A 2.00 2.75 12.25 2.750 2.500 2.345 $271,000.00 N
600071642 PHILLIPS III,THOMAS B 2.00 2.75 12.25 2.750 2.500 2.345 $255,900.00 N
600071643 BENJAMIN,MARK D 2.00 2.75 12.25 2.750 2.500 2.345 $510,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071644 BONA,LAURA R 55 NEW LEBBON ROAD NEWTOWN CT 6470 $250,553.71
600071645 GREENBLATT,STEVEN 11 SHADYSIDE AVENU SUMMIT NJ 7901 $291,110.06
600071646 FISHER,FRED L 4 CATAMOUNT LANE LITTLETON CO 80127 $301,595.48
600071647 GIVLER,FAYE L 14 97TH STREET STONE HARB NJ 8247 $394,253.54
600071648 BLOOM,MICHAEL 862 MT. VIEW DRIVE LAFAYETTE CA 94549 $504,761.79
600071649 MARI,CHRISTIAN J 6518 RIVER CLYDE DRI HIGHLAND MD 20777 $306,036.72
600071650 KRAEKEL,WILLIAM P 35 WEATHERVANE DRI EASTON CT 6612 $270,266.17
600071651 CHAPIN,BRUCE S 1036 N BROADMOOR WICHITA KS 67206 $238,470.19
600071652 MADDEN,JOHN R 2040 VISTAZO EAST ST TIBURON CA 94920 $414,341.86
600071653 WALSMITH,JOSEPH E 100 CHIPMAN DRIVE SAN ANSELM CA 94960 $640,888.54
600071654 LEE,WILLIAM F 58 LAKEVIEW AVE NEW CANAAN CT 6840 $458,301.21
600071655 TAYLOR,PHILIP W 6522 BAYONNE SPRING TX 77379 $101,747.26
600071656 RENAUD,MICHAEL J 110 WOODS END RD FAIRFIELD CT 6430 $208,661.38
600071657 KLOTS,BORIS 1566 WINDING WAY BELMONT CA 94002 $397,122.78
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071644 BONA,LAURA R 7.250 .250 7.000 .1550 6.845 03/01/2027
600071645 GREENBLATT,STEVEN 7.250 .250 7.000 .1550 6.845 03/01/2027
600071646 FISHER,FRED L 7.250 .250 7.000 .1550 6.845 01/01/2027
600071647 GIVLER,FAYE L 7.250 .250 7.000 .1550 6.845 01/01/2027
600071648 BLOOM,MICHAEL 7.250 .250 7.000 .1550 6.845 01/01/2027
600071649 MARI,CHRISTIAN J 7.250 .250 7.000 .1550 6.845 01/01/2027
600071650 KRAEKEL,WILLIAM P 7.250 .250 7.000 .1550 6.845 01/01/2027
600071651 CHAPIN,BRUCE S 7.250 .250 7.000 .1550 6.845 01/01/2027
600071652 MADDEN,JOHN R 7.250 .250 7.000 .1550 6.845 01/01/2027
600071653 WALSMITH,JOSEPH E 7.250 .250 7.000 .1550 6.845 01/01/2027
600071654 LEE,WILLIAM F 7.250 .250 7.000 .1550 6.845 01/01/2027
600071655 TAYLOR,PHILIP W 7.250 .250 7.000 .1550 6.845 01/01/2027
600071656 RENAUD,MICHAEL J 7.250 .250 7.000 .1550 6.845 01/01/2027
600071657 KLOTS,BORIS 7.250 .250 7.000 .1550 6.845 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071644 BONA,LAURA R 92419346 $1,717.38 19 09/01/1997 360
600071645 GREENBLATT,STEVEN 92418566 $1,995.37 3 09/01/1997 360
600071646 FISHER,FRED L 92415770 $2,080.64 09/01/1997 360
600071647 GIVLER,FAYE L 92415720 $2,755.99 09/01/1997 360
600071648 BLOOM,MICHAEL 92415650 $3,465.46 09/01/1997 360
600071649 MARI,CHRISTIAN J 92415624 $2,101.10 09/01/1997 360
600071650 KRAEKEL,WILLIAM P 92415575 $1,855.52 09/01/1997 360
600071651 CHAPIN,BRUCE S 92414795 $1,637.22 3 09/01/1997 360
600071652 MADDEN,JOHN R 92414616 $2,844.68 09/01/1997 360
600071653 WALSMITH,JOSEPH E 92414451 $4,400.04 09/01/1997 360
600071654 LEE,WILLIAM F 92414330 $3,146.54 09/01/1997 360
600071655 TAYLOR,PHILIP W 92413521 $698.55 09/01/1997 360
600071656 RENAUD,MICHAEL J 92413382 $1,432.57 09/01/1997 360
600071657 KLOTS,BORIS 92413363 $2,728.71 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071644 BONA,LAURA R 2.00 2.75 12.25 2.750 2.500 2.345 $265,000.00 N
600071645 GREENBLATT,STEVEN 2.00 2.75 12.25 2.750 2.500 2.345 $325,000.00 N
600071646 FISHER,FRED L 2.00 2.75 12.25 2.750 2.500 2.345 $445,000.00 N
600071647 GIVLER,FAYE L 2.00 2.75 12.25 2.750 2.500 2.345 $625,000.00 N
600071648 BLOOM,MICHAEL 2.00 2.75 12.25 2.750 2.500 2.345 $635,000.00 N
600071649 MARI,CHRISTIAN J 2.00 2.75 12.25 2.750 2.500 2.345 $385,000.00 N
600071650 KRAEKEL,WILLIAM P 2.00 2.75 12.25 2.750 2.500 2.345 $376,000.00 N
600071651 CHAPIN,BRUCE S 2.00 2.75 12.25 2.750 2.500 2.345 $285,000.00 N
600071652 MADDEN,JOHN R 2.00 2.75 12.25 2.750 2.500 2.345 $733,000.00 N
600071653 WALSMITH,JOSEPH E 2.00 2.75 12.25 2.750 2.500 2.345 $975,000.00 N
600071654 LEE,WILLIAM F 2.00 2.75 12.25 2.750 2.500 2.345 $620,000.00 N
600071655 TAYLOR,PHILIP W 2.00 2.75 12.25 2.750 2.500 2.345 $128,000.00 N
600071656 RENAUD,MICHAEL J 2.00 2.75 12.25 2.750 2.500 2.345 $265,000.00 N
600071657 KLOTS,BORIS 2.00 2.75 12.25 2.750 2.500 2.345 $445,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071658 STEINMAN,BARBARA 11 HIGHLAND DRIVE LIVINGSTON NJ 7039 $265,129.14
600071659 CHU,SOW T 1085 MILKY WAY CUPERTINO CA 95014 $382,590.82
600071660 BALDWIN,BRUCE W 4671 HARBORVIEW DRIV ERIE PA 16508 $223,565.75
600071661 ELMORE,STEVEN F 9558 CALUMET COURT BRENTWOOD TN 37027 $236,984.82
600071662 WEIL,RICHARD T 6515 ELNIDO DRIVE MCLEAN VA 22101 $286,683.20
600071663 ENRIGHT,ROSALIND N 1 PYXIE LANE SAN CARLOS CA 94070 $283,183.33
600071664 COHRON,DAVID N 16 KNOB HILL DRIVE SUMMIT NJ 7901 $218,597.64
600071665 WILCOX,ERIC C 70 WESTWOOD DRIVE KENTFIELD CA 94904 $520,230.93
600071666 CLARKJR,H J 5861 W 700 NORTH MCCORDSVIL IN 46055 $268,378.27
600071667 GREGORY,JOHN P 10710 LIMERICK AVENUE CHATSWORTH CA 91311 $281,560.08
600071668 EASTON,ROBERT W 21 HENDRIE AVENUE RIVERSIDE CT 6878 $409,709.00
600071669 MENDIOLA,LUIS C 1301 HIGHLAND AVE. GLENDALE CA 91202 $202,948.00
600071670 DALI,DAVID P 130 CENTER LANE BARNSTABLE MA 2630 $393,151.58
600071671 MANSFIELD,ANNE D 836 VIA SOMONTE PALOS VERD CA 90274 $857,785.32
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071658 STEINMAN,BARBARA 7.250 .250 7.000 .1550 6.845 01/01/2027
600071659 CHU,SOW T 7.250 .250 7.000 .1550 6.845 01/01/2027
600071660 BALDWIN,BRUCE W 7.250 .250 7.000 .1550 6.845 01/01/2027
600071661 ELMORE,STEVEN F 7.250 .250 7.000 .1550 6.845 01/01/2027
600071662 WEIL,RICHARD T 7.250 .250 7.000 .1550 6.845 11/01/2026
600071663 ENRIGHT,ROSALIND N 7.250 .250 7.000 .1550 6.845 01/01/2027
600071664 COHRON,DAVID N 7.250 .250 7.000 .1550 6.845 01/01/2027
600071665 WILCOX,ERIC C 7.250 .250 7.000 .1550 6.845 12/01/2026
600071666 CLARKJR,H J 7.250 .250 7.000 .1550 6.845 01/01/2027
600071667 GREGORY,JOHN P 7.250 .250 7.000 .1550 6.845 12/01/2026
600071668 EASTON,ROBERT W 7.250 .250 7.000 .1550 6.845 02/01/2027
600071669 MENDIOLA,LUIS C 7.250 .250 7.000 .1550 6.845 01/01/2027
600071670 DALI,DAVID P 7.250 .250 7.000 .1550 6.845 12/01/2026
600071671 MANSFIELD,ANNE D 7.250 .250 7.000 .1550 6.845 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071658 STEINMAN,BARBARA 92413135 $1,820.25 09/01/1997 360
600071659 CHU,SOW T 92413105 $2,783.28 19 09/01/1997 360
600071660 BALDWIN,BRUCE W 92412992 $1,534.90 09/01/1997 360
600071661 ELMORE,STEVEN F 92412843 $1,637.22 09/01/1997 360
600071662 WEIL,RICHARD T 92412812 $1,971.49 09/01/1997 360
600071663 ENRIGHT,ROSALIND N 92412637 $1,944.20 09/01/1997 360
600071664 COHRON,DAVID N 92412601 $1,500.79 09/01/1997 360
600071665 WILCOX,ERIC C 92411884 $3,574.60 09/01/1997 360
600071666 CLARKJR,H J 92411631 $1,842.56 09/01/1997 360
600071667 GREGORY,JOHN P 92411378 $1,934.65 1 09/01/1997 360
600071668 EASTON,ROBERT W 92410977 $2,810.57 09/01/1997 360
600071669 MENDIOLA,LUIS C 92410959 $1,393.35 19 09/01/1997 360
600071670 DALI,DAVID P 92410085 $2,701.42 09/01/1997 360
600071671 MANSFIELD,ANNE D 92409761 $5,894.00 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071658 STEINMAN,BARBARA 2.00 2.75 12.25 2.750 2.500 2.345 $333,540.00 N
600071659 CHU,SOW T 2.00 2.75 12.25 2.750 2.500 2.345 $480,000.00 N
600071660 BALDWIN,BRUCE W 2.00 2.75 12.25 2.750 2.500 2.345 $325,000.00 N
600071661 ELMORE,STEVEN F 2.00 2.75 12.25 2.750 2.500 2.345 $390,000.00 N
600071662 WEIL,RICHARD T 2.00 2.75 12.25 2.750 2.500 2.345 $410,000.00 N
600071663 ENRIGHT,ROSALIND N 2.00 2.75 12.25 2.750 2.500 2.345 $380,000.00 N
600071664 COHRON,DAVID N 2.00 2.75 12.25 2.750 2.500 2.345 $350,000.00 N
600071665 WILCOX,ERIC C 2.00 2.75 12.25 2.750 2.500 2.345 $655,000.00 N
600071666 CLARKJR,H J 2.00 2.75 12.25 2.750 2.500 2.345 $385,000.00 N
600071667 GREGORY,JOHN P 2.00 2.75 12.25 2.750 2.500 2.345 $315,500.00 N
600071668 EASTON,ROBERT W 2.00 2.75 12.25 2.750 2.500 2.345 $515,000.00 N
600071669 MENDIOLA,LUIS C 2.00 2.75 12.25 2.750 2.500 2.345 $215,000.00 N
600071670 DALI,DAVID P 2.00 2.75 12.25 2.750 2.500 2.345 $495,000.00 N
600071671 MANSFIELD,ANNE D 2.00 2.75 12.25 2.750 2.500 2.345 $1,080,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071672 NUGENTJR.,JAMES E 1208 NOTRE DAME DRIV LEMONT IL 60439 $301,565.15
600071673 SILVERBLATT,BRUCE H RD #1 BOX 525 A BELLE VERN PA 15012 $136,121.57
600071674 BOWLING,CHARLES H 36 TWAIN HARTE LAN SAN RAFAEL CA 94901 $337,259.29
600071675 EVELO,JOSEPH H 7735 ROCK HILL LANE CINCINNATI OH 45243 $585,957.10
600071676 SAMPLE,ELIZABETH L 308 E 72ND STREET 16C NEW YORK NY 10021 $228,533.87
600071677 WOOD,DAVID W 2017 WINSTED WAY MARIETTA GA 30062 $354,336.54
600071678 URDAL,DAVID L 38 THIRD STREET #2 LOS ALTOS CA 94022 $353,146.09
600071679 DAME,PHILIP R 3506 LAUNCELOT WAY ANNANDALE VA 22003 $239,663.19
600071680 BRENNAN,JAMES H 128 GEORGETOWN ROAD WESTON CT 6883 $272,640.21
600071681 USCANGA,JOSE F 412 DIAL WAY STONE MOUN GA 30083 $84,568.43
600071682 HEDIGER,GARY P 26 SISSON TERRACE TENAFLY NJ 7670 $297,595.03
600071683 CONNELLYIII,MICHAEL J 109 SEABREEZE AVENU PALM BEACH FL 33480 $515,831.39
600071684 STOTSKY,HOWARD 77 DWIGHT PLACE ENGLEWOOD NJ 7631 $347,194.17
600071685 BENKENDORFER,GARY W 11081 N 128TH PLAC SCOTTSDALE AZ 85259 $238,076.08
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071672 NUGENTJR.,JAMES E 7.250 .250 7.000 .1550 6.845 12/01/2026
600071673 SILVERBLATT,BRUCE H 7.250 .250 7.000 .1550 6.845 12/01/2026
600071674 BOWLING,CHARLES H 7.250 .250 7.000 .1550 6.845 11/01/2026
600071675 EVELO,JOSEPH H 7.250 .250 7.000 .1550 6.845 11/01/2026
600071676 SAMPLE,ELIZABETH L 7.250 .250 7.000 .1550 6.845 01/01/2027
600071677 WOOD,DAVID W 7.250 .250 7.000 .1550 6.845 11/01/2026
600071678 URDAL,DAVID L 7.250 .250 7.000 .1550 6.845 11/01/2026
600071679 DAME,PHILIP R 7.250 .250 7.000 .1550 6.845 11/01/2026
600071680 BRENNAN,JAMES H 7.250 .250 7.000 .1550 6.845 11/01/2026
600071681 USCANGA,JOSE F 7.250 .250 7.000 .1550 6.845 10/01/2026
600071682 HEDIGER,GARY P 7.250 .250 7.000 .1550 6.845 11/01/2026
600071683 CONNELLYIII,MICHAEL J 7.250 .250 7.000 .1550 6.845 11/01/2026
600071684 STOTSKY,HOWARD 7.250 .250 7.000 .1550 6.845 11/01/2026
600071685 BENKENDORFER,GARY W 7.250 .250 7.000 .1550 6.845 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071672 NUGENTJR.,JAMES E 92409668 $2,072.11 19 09/01/1997 360
600071673 SILVERBLATT,BRUCE H 92407694 $946.86 09/01/1997 360
600071674 BOWLING,CHARLES H 92407475 $2,319.40 09/01/1997 360
600071675 EVELO,JOSEPH H 92407424 $4,093.06 09/01/1997 360
600071676 SAMPLE,ELIZABETH L 92406179 $1,569.01 09/01/1997 360
600071677 WOOD,DAVID W 92405887 $2,436.73 3 09/01/1997 360
600071678 URDAL,DAVID L 92405786 $2,428.55 09/01/1997 360
600071679 DAME,PHILIP R 92405533 $1,648.14 09/01/1997 360
600071680 BRENNAN,JAMES H 92404892 $1,875.98 09/01/1997 360
600071681 USCANGA,JOSE F 92402030 $583.26 2 09/01/1997 360
600071682 HEDIGER,GARY P 92401589 $2,046.53 09/01/1997 360
600071683 CONNELLYIII,MICHAEL J 92401559 $3,547.32 09/01/1997 360
600071684 STOTSKY,HOWARD 92401205 $2,387.62 09/01/1997 360
600071685 BENKENDORFER,GARY W 92400328 $1,637.22 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071672 NUGENTJR.,JAMES E 2.00 2.75 12.25 2.750 2.500 2.345 $337,500.00 N
600071673 SILVERBLATT,BRUCE H 2.00 2.75 12.25 2.750 2.500 2.345 $173,500.00 N
600071674 BOWLING,CHARLES H 2.00 2.75 12.25 2.750 2.500 2.345 $425,000.00 N
600071675 EVELO,JOSEPH H 2.00 2.75 12.25 2.750 2.500 2.345 $1,100,000.00 N
600071676 SAMPLE,ELIZABETH L 2.00 2.75 12.25 2.750 2.500 2.345 $640,000.00 N
600071677 WOOD,DAVID W 2.00 2.75 12.25 2.750 2.500 2.345 $396,900.00 N
600071678 URDAL,DAVID L 2.00 2.75 12.25 2.750 2.500 2.345 $445,000.00 N
600071679 DAME,PHILIP R 2.00 2.75 12.25 2.750 2.500 2.345 $302,000.00 N
600071680 BRENNAN,JAMES H 2.00 2.75 12.25 2.750 2.500 2.345 $343,750.00 N
600071681 USCANGA,JOSE F 2.00 2.75 12.25 2.750 2.500 2.345 $90,000.00 N
600071682 HEDIGER,GARY P 2.00 2.75 12.25 2.750 2.500 2.345 $450,000.00 N
600071683 CONNELLYIII,MICHAEL J 2.00 2.75 12.25 2.750 2.500 2.345 $650,000.00 N
600071684 STOTSKY,HOWARD 2.00 2.75 12.25 2.750 2.500 2.345 $490,000.00 N
600071685 BENKENDORFER,GARY W 2.00 2.75 12.25 2.750 2.500 2.345 $300,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071686 HENNESSY,JAMES M 49 ELMROCK ROAD BRONXVILLE NY 10708 $391,091.95
600071688 MULKERN,JAMES R 1250-1 252-1254 EVANS EVANS CITY PA 16033 $194,801.39
600071693 PLATUKIS,RONALD J 613 PATRIOT ROAD SOUTHBURY CT 6488 $243,035.94
600071695 PULITZER,ELIZABETH A 35 TERRACE AVENUE RIVERSIDE CT 6878 $572,506.91
600071762 OGLE,WILLIAM C 5318 W MOCKINGBIRD LAN DALLAS TX 75209 $170,049.08
600071763 STEWART,ROBERT L 11052 TREYBURN DRIVE GLEN ALLEN VA 23060 $301,938.46
600071764 KUPERMAN,ALEXANDER 705 WEARIMUS ROAD WASHINGTON NJ 7675 $228,907.05
600071765 CARLETON,JEFFREY E 8 SLEEPY HOLLOW L PRINCETON NJ 8550 $445,871.17
600071766 DILLON,WILLIAM S 6600 WOOD HOLLOW PLANO TX 75024 $330,380.50
600071767 ANDERSON,RICHARD J 1381 E ANNIE LACE WAY DRAPER UT 84020 $273,165.39
600071768 CHAPMAN,JOHN C 28 JOSS WAY WILLINGTON NJ 7946 $478,714.34
600071769 CIARDI,MICHAEL S 34 SHERMAN CIRCLE MONROE CT 6468 $255,659.55
600071770 PRESCOTT,ARTHUR W 8955 S HUDSON AVENUE TULSA OK 74137 $159,841.99
600071771 SHELBY,RONALD V 5240 E HARTFORD AVENUE SCOTTSDALE AZ 85254 $253,277.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071686 HENNESSY,JAMES M 7.250 .250 7.000 .1550 6.845 12/01/2026
600071688 MULKERN,JAMES R 7.250 .250 7.000 .1550 6.845 10/01/2026
600071693 PLATUKIS,RONALD J 7.250 .250 7.000 .1550 6.845 11/01/2026
600071695 PULITZER,ELIZABETH A 7.250 .250 7.000 .1550 6.845 12/01/2026
600071762 OGLE,WILLIAM C 7.250 .250 7.000 .1550 6.845 02/01/2027
600071763 STEWART,ROBERT L 7.250 .250 7.000 .1550 6.845 01/01/2027
600071764 KUPERMAN,ALEXANDER 7.250 .250 7.000 .1550 6.845 03/01/2027
600071765 CARLETON,JEFFREY E 7.250 .250 7.000 .1550 6.845 03/01/2027
600071766 DILLON,WILLIAM S 7.250 .250 7.000 .1550 6.845 01/01/2027
600071767 ANDERSON,RICHARD J 7.250 .250 7.000 .1550 6.845 02/01/2027
600071768 CHAPMAN,JOHN C 7.250 .250 7.000 .1550 6.845 03/01/2027
600071769 CIARDI,MICHAEL S 7.250 .250 7.000 .1550 6.845 02/01/2027
600071770 PRESCOTT,ARTHUR W 7.250 .250 7.000 .1550 6.845 12/01/2026
600071771 SHELBY,RONALD V 7.250 .250 7.000 .1550 6.845 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071686 HENNESSY,JAMES M 91898958 $2,728.71 09/01/1997 360
600071688 MULKERN,JAMES R 91897482 $1,412.10 09/01/1997 360
600071693 PLATUKIS,RONALD J 91892888 $1,671.33 09/01/1997 360
600071695 PULITZER,ELIZABETH A 91890560 $3,956.62 09/01/1997 360
600071762 OGLE,WILLIAM C 92419029 $1,166.53 19 09/01/1997 360
600071763 STEWART,ROBERT L 92418479 $2,073.82 09/01/1997 360
600071764 KUPERMAN,ALEXANDER 92416961 $1,569.01 09/01/1997 360
600071765 CARLETON,JEFFREY E 92416586 $3,056.15 09/01/1997 360
600071766 DILLON,WILLIAM S 92416108 $2,268.24 09/01/1997 360
600071767 ANDERSON,RICHARD J 92415852 $1,875.98 09/01/1997 360
600071768 CHAPMAN,JOHN C 92414974 $3,281.27 19 09/01/1997 360
600071769 CIARDI,MICHAEL S 92413961 $1,755.24 3 09/01/1997 360
600071770 PRESCOTT,ARTHUR W 92409177 $1,098.30 09/01/1997 360
600071771 SHELBY,RONALD V 92406006 $1,748.08 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071686 HENNESSY,JAMES M 2.00 2.75 12.25 2.750 2.500 2.345 $570,000.00 N
600071688 MULKERN,JAMES R 2.00 2.75 12.25 2.750 2.500 2.345 $467,000.00 N
600071693 PLATUKIS,RONALD J 2.00 2.75 12.25 2.750 2.500 2.345 $306,700.00 N
600071695 PULITZER,ELIZABETH A 2.00 2.75 12.25 2.750 2.500 2.345 $725,000.00 N
600071762 OGLE,WILLIAM C 2.00 2.75 12.25 2.750 2.500 2.345 $180,000.00 N
600071763 STEWART,ROBERT L 2.00 2.75 12.25 2.750 2.500 2.345 $380,000.00 N
600071764 KUPERMAN,ALEXANDER 2.00 2.75 12.25 2.750 2.500 2.345 $330,001.00 N
600071765 CARLETON,JEFFREY E 2.00 2.75 12.25 2.750 2.500 2.345 $560,000.00 N
600071766 DILLON,WILLIAM S 2.00 2.75 12.25 2.750 2.500 2.345 $425,000.00 N
600071767 ANDERSON,RICHARD J 2.00 2.75 12.25 2.750 2.500 2.345 $365,000.00 N
600071768 CHAPMAN,JOHN C 2.00 2.75 12.25 2.750 2.500 2.345 $535,000.00 N
600071769 CIARDI,MICHAEL S 2.00 2.75 12.25 2.750 2.500 2.345 $285,900.00 N
600071770 PRESCOTT,ARTHUR W 2.00 2.75 12.25 2.750 2.500 2.345 $225,000.00 N
600071771 SHELBY,RONALD V 2.00 2.75 12.25 2.750 2.500 2.345 $320,373.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071772 HOI,YUET C 3388 BROOK LEAF COUR SAN JOSE CA 95132 $221,410.69
600071773 RAY,NEVILLE R 1664 ST. NORBERT DRI DANVILLE CA 94526 $281,957.20
600071774 SAVAGE,DENISE L 197 FURNACE DOCK RO CORTLANDT NY 10566 $408,531.12
600071777 TAFARO,EDWARD 33 GLENWOOD AVENUE DEMAREST NJ 7627 $225,615.37
600071778 GALLIGANJR.,HENRY F 72 HILL FARM ROAD PEMBROKE MA 2359 $243,245.36
600071783 MITCHELL,LARRY 3068 BAYER DRIVE MARINA CA 93933 $219,928.28
600071784 HANSEN,TODD R 836 GREAT OAKS TRAI EAGAN MN 55123 $223,466.35
600071785 SUSZKO,PAUL R 14490 DELLWOOD ROAD N STILLWATER MN 55082 $248,406.34
600071786 ELKIN,PAUL S 8800 WINDTREE COURT SPOTSYLVAN VA 22553 $232,982.90
600071787 MCCARTHY,THOMAS G #47 BIG HORN CONDOM BIG SKY MT 59716 $220,765.54
600071788 ROSKOW,MARC T 6285 GINASHELL CIRCL SAN JOSE CA 95119 $287,814.74
600071789 FARMER,PAUL A 3910 UNIVERSITY HOUSTON TX 77005 $257,700.27
600071790 HARRIS,PETER R 155 LOCUST AVENUE SAN RAFAEL CA 94901 $498,749.20
600071791 TRAN,DAVID T 6257 GINASHELL CIRCL SAN JOSE CA 95119 $230,033.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071772 HOI,YUET C 7.250 .250 7.000 .1550 6.845 11/01/2026
600071773 RAY,NEVILLE R 7.250 .250 7.000 .1550 6.845 12/01/2026
600071774 SAVAGE,DENISE L 7.250 .250 7.000 .1550 6.845 10/01/2026
600071777 TAFARO,EDWARD 7.250 .250 7.000 .1550 6.845 12/01/2026
600071778 GALLIGANJR.,HENRY F 7.250 .250 7.000 .1550 6.845 11/01/2026
600071783 MITCHELL,LARRY 7.250 .250 7.000 .1550 6.845 04/01/2027
600071784 HANSEN,TODD R 7.250 .250 7.000 .1550 6.845 01/01/2027
600071785 SUSZKO,PAUL R 7.250 .250 7.000 .1550 6.845 01/01/2027
600071786 ELKIN,PAUL S 7.250 .250 7.000 .1550 6.845 01/01/2027
600071787 MCCARTHY,THOMAS G 7.250 .250 7.000 .1550 6.845 02/01/2027
600071788 ROSKOW,MARC T 7.250 .250 7.000 .1550 6.845 12/01/2026
600071789 FARMER,PAUL A 7.250 .250 7.000 .1550 6.845 10/01/2026
600071790 HARRIS,PETER R 7.250 .250 7.000 .1550 6.845 10/01/2026
600071791 TRAN,DAVID T 7.250 .250 7.000 .1550 6.845 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071772 HOI,YUET C 92405832 $1,522.62 09/01/1997 360
600071773 RAY,NEVILLE R 92405789 $1,937.38 09/01/1997 360
600071774 SAVAGE,DENISE L 91899604 $2,812.27 19 09/01/1997 360
600071777 TAFARO,EDWARD 91898452 $1,550.25 2 09/01/1997 360
600071778 GALLIGANJR.,HENRY F 91886764 $1,693.84 19 09/01/1997 360
600071783 MITCHELL,LARRY 92425799 $1,506.25 09/01/1997 360
600071784 HANSEN,TODD R 92419090 $1,534.22 09/01/1997 360
600071785 SUSZKO,PAUL R 92418584 $1,705.45 09/01/1997 360
600071786 ELKIN,PAUL S 92418482 $1,609.94 09/01/1997 360
600071787 MCCARTHY,THOMAS G 92417685 $1,514.43 09/01/1997 360
600071788 ROSKOW,MARC T 92409292 $1,977.63 19 09/01/1997 360
600071789 FARMER,PAUL A 92402886 $1,773.66 09/01/1997 360
600071790 HARRIS,PETER R 92401212 $3,432.71 09/01/1997 360
600071791 TRAN,DAVID T 91896182 $1,580.61 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071772 HOI,YUET C 2.00 2.75 12.25 2.750 2.500 2.345 $279,000.00 N
600071773 RAY,NEVILLE R 2.00 2.75 12.25 2.750 2.500 2.345 $355,000.00 N
600071774 SAVAGE,DENISE L 2.00 2.75 12.25 2.750 2.500 2.345 $485,000.00 N
600071777 TAFARO,EDWARD 2.00 2.75 12.25 2.750 2.500 2.345 $252,500.00 N
600071778 GALLIGANJR.,HENRY F 2.00 2.75 12.25 2.750 2.500 2.345 $275,900.00 N
600071783 MITCHELL,LARRY 2.00 2.75 12.25 2.750 2.500 2.345 $276,000.00 N
600071784 HANSEN,TODD R 2.00 2.75 12.25 2.750 2.500 2.345 $299,900.00 N
600071785 SUSZKO,PAUL R 2.00 2.75 12.25 2.750 2.500 2.345 $350,000.00 N
600071786 ELKIN,PAUL S 2.00 2.75 12.25 2.750 2.500 2.345 $330,000.00 N
600071787 MCCARTHY,THOMAS G 2.00 2.75 12.25 2.750 2.500 2.345 $277,500.00 N
600071788 ROSKOW,MARC T 2.00 2.75 12.25 2.750 2.500 2.345 $305,193.00 N
600071789 FARMER,PAUL A 2.00 2.75 12.25 2.750 2.500 2.345 $370,000.00 N
600071790 HARRIS,PETER R 2.00 2.75 12.25 2.750 2.500 2.345 $629,000.00 N
600071791 TRAN,DAVID T 2.00 2.75 12.25 2.750 2.500 2.345 $321,006.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071792 CRUZ,ANTHONY P 2 HORIZON DRIVE WAYNE NJ 7470 $297,322.70
600071793 WOLFFE,WESLEY A 77 LAFAYETTE AVENU CHATHAM NJ 7928 $264,451.82
600071794 VADASZ,MICHAEL G 23612 LOVELY LANE CHESTERTOW MD 21620 $496,781.01
600071795 EHN,C L 4708 25TH RD N ARLINGTON VA 22207 $298,331.77
600071796 WALLACEJR.,BENNIE H 4 COSTA LANE WEST REDDI CT 6896 $290,376.32
600071797 PLONSKER,STEVEN E 423 BRIER HILL ROAD DEERFIELD IL 60015 $560,863.83
600071798 NORWOOD,WILLIAM H 3 PARTRIDGE TRAIL SHERMAN CT 6784 $306,781.91
600071799 GRIFFITH,ROBERT E 110 KILDARE RD GARDEN CIT NY 11530 $397,775.71
600071800 CORLEY,MICHAEL A 1648 DILAR DR. GROVE OK 74344 $241,648.76
600071801 SCHMUCKER,RONALD L 244 GREEN VALLEY DR ANDOVER KS 67002 $98,870.29
600071802 MARTIN,ELLIS E 1721 N CHERYL PL WICHITA KS 67212 $39,695.78
600071803 LAPUTKA,MARK P RR#2 BOX 724 FOOTHIL TOWNSHIP O PA 18222 $70,795.84
600071811 CHRISTOPHER,DAVID W 124 LANCASTER AVENU PITTSBURGH PA 15228 $124,712.91
600071812 TRZANOWSKI,THOMAS J 15 GORDON ROAD ESSEX FELL NJ 7021 $348,377.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071792 CRUZ,ANTHONY P 7.250 .250 7.000 .1550 6.845 02/01/2027
600071793 WOLFFE,WESLEY A 7.250 .250 7.000 .1550 6.845 04/01/2027
600071794 VADASZ,MICHAEL G 7.250 .250 7.000 .1550 6.845 04/01/2027
600071795 EHN,C L 7.250 .250 7.000 .1550 6.845 02/01/2027
600071796 WALLACEJR.,BENNIE H 7.250 .250 7.000 .1550 6.845 02/01/2027
600071797 PLONSKER,STEVEN E 7.250 .250 7.000 .1550 6.845 02/01/2027
600071798 NORWOOD,WILLIAM H 7.250 .250 7.000 .1550 6.845 01/01/2027
600071799 GRIFFITH,ROBERT E 7.250 .250 7.000 .1550 6.845 02/01/2027
600071800 CORLEY,MICHAEL A 7.250 .250 7.000 .1550 6.845 02/01/2027
600071801 SCHMUCKER,RONALD L 7.250 .250 7.000 .1550 6.845 12/01/2026
600071802 MARTIN,ELLIS E 7.250 .250 7.000 .1550 6.845 10/01/2026
600071803 LAPUTKA,MARK P 7.250 .250 7.000 .1550 6.845 01/01/2027
600071811 CHRISTOPHER,DAVID W 7.375 .250 7.125 .1550 6.970 06/01/2027
600071812 TRZANOWSKI,THOMAS J 7.375 .250 7.125 .1550 6.970 03/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071792 CRUZ,ANTHONY P 92423892 $2,046.53 09/01/1997 360
600071793 WOLFFE,WESLEY A 92421487 $1,811.18 3 09/01/1997 360
600071794 VADASZ,MICHAEL G 92419167 $3,402.35 09/01/1997 360
600071795 EHN,C L 92419000 $2,046.53 09/01/1997 360
600071796 WALLACEJR.,BENNIE H 92416774 $1,991.95 09/01/1997 360
600071797 PLONSKER,STEVEN E 92416669 $3,847.47 09/01/1997 360
600071798 NORWOOD,WILLIAM H 92415803 $2,106.22 19 09/01/1997 360
600071799 GRIFFITH,ROBERT E 92415789 $2,728.71 09/01/1997 360
600071800 CORLEY,MICHAEL A 92414962 $1,657.69 19 09/01/1997 360
600071801 SCHMUCKER,RONALD L 92409946 $682.18 09/01/1997 360
600071802 MARTIN,ELLIS E 92401397 $273.21 09/01/1997 360
600071803 LAPUTKA,MARK P 91898140 $486.05 09/01/1997 360
600071811 CHRISTOPHER,DAVID W 92427258 $863.34 09/01/1997 360
600071812 TRZANOWSKI,THOMAS J 92420319 $2,417.36 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071792 CRUZ,ANTHONY P 2.00 2.75 12.25 2.750 2.500 2.345 $428,571.00 N
600071793 WOLFFE,WESLEY A 2.00 2.75 12.25 2.750 2.500 2.345 $295,000.00 N
600071794 VADASZ,MICHAEL G 2.00 2.75 12.25 2.750 2.500 2.345 $665,000.00 N
600071795 EHN,C L 2.00 2.75 12.25 2.750 2.500 2.345 $375,000.00 N
600071796 WALLACEJR.,BENNIE H 2.00 2.75 12.25 2.750 2.500 2.345 $435,000.00 N
600071797 PLONSKER,STEVEN E 2.00 2.75 12.25 2.750 2.500 2.345 $705,000.00 N
600071798 NORWOOD,WILLIAM H 2.00 2.75 12.25 2.750 2.500 2.345 $325,000.00 N
600071799 GRIFFITH,ROBERT E 2.00 2.75 12.25 2.750 2.500 2.345 $570,000.00 N
600071800 CORLEY,MICHAEL A 2.00 2.75 12.25 2.750 2.500 2.345 $270,000.00 N
600071801 SCHMUCKER,RONALD L 2.00 2.75 12.25 2.750 2.500 2.345 $136,000.00 N
600071802 MARTIN,ELLIS E 2.00 2.75 12.25 2.750 2.500 2.345 $97,900.00 N
600071803 LAPUTKA,MARK P 2.00 2.75 12.25 2.750 2.500 2.345 $99,000.00 N
600071811 CHRISTOPHER,DAVID W 2.00 2.75 12.38 2.750 2.500 2.345 $256,500.00 N
600071812 TRZANOWSKI,THOMAS J 2.00 2.75 12.38 2.750 2.500 2.345 $557,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071813 HILL,WILLIAM J 2020 HABOURSIDE DRIV LONGBOAT K FL 34228 $249,037.08
600071814 NOTEBAERT,EDMOND F 200 WYLLPEN DRIVE WEST CHEST PA 19380 $358,046.77
600071815 STUBENHOFERJR.,GERALD J 6430 ROSEMOOR STREET PITTSBURGH PA 15222 $101,961.85
600071816 GARMAN,WAYNE E 260 GLADE MILL RD VALENCIA PA 16059 $181,383.52
600071817 MAIER,HENRY J 112 HIDDEN OAK DR MARS PA 16046 $241,488.57
600071818 RODRIQUEZ,ROBERT 2685 S EATON PLACE LAKEWOOD CO 80227 $291,191.70
600071819 CHIN,ROBERT 10 LANCASTER ROAD WINDHAM NH 3087 $313,040.69
600071820 ZANE,MARTIN M 24975 ELDORADO MEADOW HIDDEN HIL CA 91302 $595,788.56
600071821 BROCK,GREGORY J 52 VALLEYWOOD RD COS COB CT 6807 $321,725.80
600071822 THOMAS,WILLIAM R.L. 19 INDIAN CREEK RO HOLMDEL NJ 7733 $245,762.57
600071823 VINCENT,JEAN-PIERRE R 76 GOODHOUSE ROAD LITCHFIELD CT 6759 $225,903.12
600071824 MICHALSKI,KIM 11680 MONTANA AVENUE LOS ANGELE CA 90049 $284,373.90
600071826 ZADROVICZ JR,JAMES J 5633 NORTHWOOD DR CENTER VAL PA 18034 $228,014.64
600071830 SAVIOLA,DAVID B 8471 ALLENWOOD ROAD LOS ANGELE CA 90046 $378,536.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071813 HILL,WILLIAM J 7.375 .250 7.125 .1550 6.970 04/01/2027
600071814 NOTEBAERT,EDMOND F 7.375 .250 7.125 .1550 6.970 02/01/2027
600071815 STUBENHOFERJR.,GERALD J 7.375 .250 7.125 .1550 6.970 01/01/2027
600071816 GARMAN,WAYNE E 7.375 .250 7.125 .1550 6.970 02/01/2027
600071817 MAIER,HENRY J 7.375 .250 7.125 .1550 6.970 01/01/2027
600071818 RODRIQUEZ,ROBERT 7.375 .250 7.125 .1550 6.970 12/01/2026
600071819 CHIN,ROBERT 7.375 .250 7.125 .1550 6.970 01/01/2027
600071820 ZANE,MARTIN M 7.375 .250 7.125 .1550 6.970 12/01/2026
600071821 BROCK,GREGORY J 7.375 .250 7.125 .1550 6.970 12/01/2026
600071822 THOMAS,WILLIAM R.L. 7.375 .250 7.125 .1550 6.970 12/01/2026
600071823 VINCENT,JEAN-PIERRE R 7.375 .250 7.125 .1550 6.970 12/01/2026
600071824 MICHALSKI,KIM 7.375 .250 7.125 .1550 6.970 10/01/2026
600071826 ZADROVICZ JR,JAMES J 7.375 .250 7.125 .1550 6.970 10/01/2026
600071830 SAVIOLA,DAVID B 7.375 .250 7.125 .1550 6.970 04/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071813 HILL,WILLIAM J 92419219 $1,726.69 09/01/1997 360
600071814 NOTEBAERT,EDMOND F 92417428 $2,486.43 09/01/1997 360
600071815 STUBENHOFERJR.,GERALD J 92416561 $708.63 19 09/01/1997 360
600071816 GARMAN,WAYNE E 92415951 $1,623.09 09/01/1997 360
600071817 MAIER,HENRY J 92415005 $1,678.34 09/01/1997 360
600071818 RODRIQUEZ,ROBERT 92411052 $2,025.40 2 09/01/1997 360
600071819 CHIN,ROBERT 92410800 $2,175.63 09/01/1997 360
600071820 ZANE,MARTIN M 92408668 $4,144.05 09/01/1997 360
600071821 BROCK,GREGORY J 92408349 $2,237.79 2 09/01/1997 360
600071822 THOMAS,WILLIAM R.L. 92407953 $1,709.42 09/01/1997 360
600071823 VINCENT,JEAN-PIERRE R 92407742 $1,571.29 09/01/1997 360
600071824 MICHALSKI,KIM 91897374 $1,981.20 09/01/1997 360
600071826 ZADROVICZ JR,JAMES J 91896967 $1,588.55 09/01/1997 360
600071830 SAVIOLA,DAVID B 92425683 $2,624.57 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071813 HILL,WILLIAM J 2.00 2.75 12.38 2.750 2.500 2.345 $385,000.00 N
600071814 NOTEBAERT,EDMOND F 2.00 2.75 12.38 2.750 2.500 2.345 $500,000.00 N
600071815 STUBENHOFERJR.,GERALD J 2.00 2.75 12.38 2.750 2.500 2.345 $114,000.00 N
600071816 GARMAN,WAYNE E 2.00 2.75 12.38 2.750 2.500 2.345 $300,000.00 N
600071817 MAIER,HENRY J 2.00 2.75 12.38 2.750 2.500 2.345 $380,000.00 N
600071818 RODRIQUEZ,ROBERT 2.00 2.75 12.38 2.750 2.500 2.345 $345,000.00 N
600071819 CHIN,ROBERT 2.00 2.75 12.38 2.750 2.500 2.345 $440,000.00 N
600071820 ZANE,MARTIN M 2.00 2.75 12.38 2.750 2.500 2.345 $1,300,000.00 N
600071821 BROCK,GREGORY J 2.00 2.75 12.38 2.750 2.500 2.345 $360,000.00 N
600071822 THOMAS,WILLIAM R.L. 2.00 2.75 12.38 2.750 2.500 2.345 $330,000.00 N
600071823 VINCENT,JEAN-PIERRE R 2.00 2.75 12.38 2.750 2.500 2.345 $317,500.00 N
600071824 MICHALSKI,KIM 2.00 2.75 12.38 2.750 2.500 2.345 $382,500.00 N
600071826 ZADROVICZ JR,JAMES J 2.00 2.75 12.38 2.750 2.500 2.345 $361,270.00 N
600071830 SAVIOLA,DAVID B 2.00 2.75 12.38 2.750 2.500 2.345 $475,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071831 MURREN,JAMES J 1159 REDDING RD FAIRFIELD CT 6430 $469,939.95
600071832 WATERMAN,DEBORAH F 10 KENDALL DRIVE WESTBORO MA 1581 $408,420.80
600071833 BREW,JULIAN 16841 LIVORNO DRIVE PACIFIC PA CA 90272 $556,607.38
600071834 VERCELLIJR,DONALD J 1569 WALNUT STREET SAN CARLOS CA 94070 $270,553.91
600071835 COFFMAN,CAROLYN 108 CAMPFIRE ROAD CHAPPAQUA NY 10514 $258,998.56
600071836 RAHIMI,AMIR M 1001 AVONONAK AVENUE GLENDALE CA 91206 $290,415.71
600071837 FORSYTH,THOMAS L 13 FOX RUN ROAD WILTON CT 6897 $632,055.97
600071838 WEGE,D. M 8145 WYCLIFFE DRIVE CINCINNATI OH 45244 $357,760.76
600071839 DUNN,PHILIP S 138 WOODRIDGE DRIVE STAMFORD CT 6905 $229,818.96
600071840 PARKS,DANIEL K 10995 HISKEY LANE TUSTIN CA 92782 $308,765.54
600071842 BLISKA,THOMAS E 334 LAVERNE AVENUE MILL VALLE CA 94941 $80,826.21
600071843 VANCLIEF,DOUGLAS H 52 VISTA DRIVE EASTON CT 6612 $283,034.01
600071844 MARCHINIAK,LAWRENCE J 2624 ARBORETA COURT CARMICHAEL CA 95608 $298,134.01
600071845 THOMPSON,DEBBIE A 18285 CONSTITUTION AV MONTE SERE CA 95030 $579,845.69
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071831 MURREN,JAMES J 7.375 .250 7.125 .1550 6.970 04/01/2027
600071832 WATERMAN,DEBORAH F 7.375 .250 7.125 .1550 6.970 04/01/2027
600071833 BREW,JULIAN 7.375 .250 7.125 .1550 6.970 03/01/2027
600071834 VERCELLIJR,DONALD J 7.375 .250 7.125 .1550 6.970 04/01/2027
600071835 COFFMAN,CAROLYN 7.375 .250 7.125 .1550 6.970 04/01/2027
600071836 RAHIMI,AMIR M 7.375 .250 7.125 .1550 6.970 02/01/2027
600071837 FORSYTH,THOMAS L 7.375 .250 7.125 .1550 6.970 03/01/2027
600071838 WEGE,D. M 7.375 .250 7.125 .1550 6.970 01/01/2027
600071839 DUNN,PHILIP S 7.375 .250 7.125 .1550 6.970 03/01/2027
600071840 PARKS,DANIEL K 7.375 .250 7.125 .1550 6.970 02/01/2027
600071842 BLISKA,THOMAS E 7.375 .250 7.125 .1550 6.970 01/01/2027
600071843 VANCLIEF,DOUGLAS H 7.375 .250 7.125 .1550 6.970 01/01/2027
600071844 MARCHINIAK,LAWRENCE J 7.375 .250 7.125 .1550 6.970 01/01/2027
600071845 THOMPSON,DEBBIE A 7.375 .250 7.125 .1550 6.970 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071831 MURREN,JAMES J 92425057 $3,280.71 09/01/1997 360
600071832 WATERMAN,DEBORAH F 92424902 $2,831.77 09/01/1997 360
600071833 BREW,JULIAN 92421331 $3,862.26 09/01/1997 360
600071834 VERCELLIJR,DONALD J 92420926 $1,875.87 09/01/1997 360
600071835 COFFMAN,CAROLYN 92420429 $1,795.76 09/01/1997 360
600071836 RAHIMI,AMIR M 92420369 $2,016.77 09/01/1997 360
600071837 FORSYTH,THOMAS L 92420314 $4,385.79 09/01/1997 360
600071838 WEGE,D. M 92420152 $2,486.44 09/01/1997 360
600071839 DUNN,PHILIP S 92419804 $1,597.53 3 09/01/1997 360
600071840 PARKS,DANIEL K 92418746 $2,144.21 2 09/01/1997 360
600071842 BLISKA,THOMAS E 92416067 $6,057.22 09/01/1997 360
600071843 VANCLIEF,DOUGLAS H 92415807 $1,968.42 09/01/1997 360
600071844 MARCHINIAK,LAWRENCE J 92414836 $2,072.03 09/01/1997 360
600071845 THOMPSON,DEBBIE A 92414237 $4,033.54 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071831 MURREN,JAMES J 2.00 2.75 12.38 2.750 2.500 2.345 $1,700,000.00 N
600071832 WATERMAN,DEBORAH F 2.00 2.75 12.38 2.750 2.500 2.345 $750,000.00 N
600071833 BREW,JULIAN 2.00 2.75 12.38 2.750 2.500 2.345 $699,000.00 N
600071834 VERCELLIJR,DONALD J 2.00 2.75 12.38 2.750 2.500 2.345 $339,500.00 N
600071835 COFFMAN,CAROLYN 2.00 2.75 12.38 2.750 2.500 2.345 $450,000.00 N
600071836 RAHIMI,AMIR M 2.00 2.75 12.38 2.750 2.500 2.345 $365,000.00 N
600071837 FORSYTH,THOMAS L 2.00 2.75 12.38 2.750 2.500 2.345 $920,000.00 N
600071838 WEGE,D. M 2.00 2.75 12.38 2.750 2.500 2.345 $450,000.00 N
600071839 DUNN,PHILIP S 2.00 2.75 12.38 2.750 2.500 2.345 $257,000.00 N
600071840 PARKS,DANIEL K 2.00 2.75 12.38 2.750 2.500 2.345 $344,990.00 N
600071842 BLISKA,THOMAS E 2.00 2.75 12.38 2.750 2.500 2.345 $1,175,000.00 N
600071843 VANCLIEF,DOUGLAS H 2.00 2.75 12.38 2.750 2.500 2.345 $380,000.00 N
600071844 MARCHINIAK,LAWRENCE J 2.00 2.75 12.38 2.750 2.500 2.345 $400,000.00 N
600071845 THOMPSON,DEBBIE A 2.00 2.75 12.38 2.750 2.500 2.345 $950,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071846 KELLER,STEPHAN 12 CALYPSO LANE SAN CARLOS CA 94070 $248,893.80
600071847 SAHAKIAN,DANIEL D 200 HAYMAKER STATE COLL PA 16801 $623,722.29
600071848 IRONMONGER,JOHN D 4505 SHERBOURNE DRIV SAN JOSE CA 95124 $335,131.04
600071849 DEHNER,JOSEPH J 822 YALE AVENUE TERRACE PA OH 45174 $281,019.26
600071850 CHARLES,SIMON 2 THUNDER RIDGE R NEWTOWN CT 6470 $236,022.80
600071851 TOSSEY,LAURENCE A 28431 LA PLUMOSA LAGUNA NIG CA 92677 $321,984.73
600071852 ADEWALE,LAWRENCE 16 EMERSON PLACE NEWARK NJ 7106 $43,860.71
600071853 HASSELL,WILLIAM 17 CHOWDER KETTLE CHILMARK MA 2535 $294,158.90
600071854 SMALL,MATTHEW V 41 W TRAIL STAMFORD CT 6903 $275,319.48
600071855 KNUDSON,BRIAN J 7312 FAWN HILL ROAD CHANHASSEN MN 55317 $254,407.69
600071856 REALE,ROGER C 74 MILL PLAIN ROAD BRANFORD CT 6405 $245,960.57
600071857 PACE,PHILIP P 151 CLINTON ROAD NEWFOUNDLA NJ 7435 $225,654.91
600071858 CLEMENS,RICHARD E 3288 MUIRFIELD DRIVE CHAMBERSBU PA 17201 $223,006.20
600071859 MAPES,JOHN S 27 MARINE WAY UNIT AVALON NJ 8202 $297,894.26
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071846 KELLER,STEPHAN 7.375 .250 7.125 .1550 6.970 01/01/2027
600071847 SAHAKIAN,DANIEL D 7.375 .250 7.125 .1550 6.970 01/01/2027
600071848 IRONMONGER,JOHN D 7.375 .250 7.125 .1550 6.970 12/01/2026
600071849 DEHNER,JOSEPH J 7.375 .250 7.125 .1550 6.970 01/01/2027
600071850 CHARLES,SIMON 7.375 .250 7.125 .1550 6.970 01/01/2027
600071851 TOSSEY,LAURENCE A 7.375 .250 7.125 .1550 6.970 01/01/2027
600071852 ADEWALE,LAWRENCE 7.375 .250 7.125 .1550 6.970 02/01/2027
600071853 HASSELL,WILLIAM 7.375 .250 7.125 .1550 6.970 01/01/2027
600071854 SMALL,MATTHEW V 7.375 .250 7.125 .1550 6.970 01/01/2027
600071855 KNUDSON,BRIAN J 7.375 .250 7.125 .1550 6.970 01/01/2027
600071856 REALE,ROGER C 7.375 .250 7.125 .1550 6.970 01/01/2027
600071857 PACE,PHILIP P 7.375 .250 7.125 .1550 6.970 12/01/2026
600071858 CLEMENS,RICHARD E 7.375 .250 7.125 .1550 6.970 01/01/2017
600071859 MAPES,JOHN S 7.375 .250 7.125 .1550 6.970 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071846 KELLER,STEPHAN 92413576 $1,732.21 09/01/1997 360
600071847 SAHAKIAN,DANIEL D 92413543 $4,369.90 09/01/1997 360
600071848 IRONMONGER,JOHN D 92413154 $2,331.03 7 09/01/1997 360
600071849 DEHNER,JOSEPH J 92412899 $1,958.06 09/01/1997 360
600071850 CHARLES,SIMON 92412806 $1,640.35 19 09/01/1997 360
600071851 TOSSEY,LAURENCE A 92412632 $2,237.79 09/01/1997 360
600071852 ADEWALE,LAWRENCE 92411676 $304.59 19 09/01/1997 360
600071853 HASSELL,WILLIAM 92411601 $2,044.40 09/01/1997 360
600071854 SMALL,MATTHEW V 92411270 $1,915.93 3 09/01/1997 360
600071855 KNUDSON,BRIAN J 92411044 $1,768.13 09/01/1997 360
600071856 REALE,ROGER C 92411030 $1,709.42 09/01/1997 360
600071857 PACE,PHILIP P 92410889 $1,569.56 19 09/01/1997 360
600071858 CLEMENS,RICHARD E 92410292 $1,806.60 09/01/1997 240
600071859 MAPES,JOHN S 92410245 $2,072.03 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071846 KELLER,STEPHAN 2.00 2.75 12.38 2.750 2.500 2.345 $313,500.00 N
600071847 SAHAKIAN,DANIEL D 2.00 2.75 12.38 2.750 2.500 2.345 $1,000,000.00 N
600071848 IRONMONGER,JOHN D 2.00 2.75 12.38 2.750 2.500 2.345 $375,000.00 N
600071849 DEHNER,JOSEPH J 2.00 2.75 12.38 2.750 2.500 2.345 $392,000.00 N
600071850 CHARLES,SIMON 2.00 2.75 12.38 2.750 2.500 2.345 $264,000.00 N
600071851 TOSSEY,LAURENCE A 2.00 2.75 12.38 2.750 2.500 2.345 $405,000.00 N
600071852 ADEWALE,LAWRENCE 2.00 2.75 12.38 2.750 2.500 2.345 $49,000.00 N
600071853 HASSELL,WILLIAM 2.00 2.75 12.38 2.750 2.500 2.345 $375,000.00 N
600071854 SMALL,MATTHEW V 2.00 2.75 12.38 2.750 2.500 2.345 $292,000.00 N
600071855 KNUDSON,BRIAN J 2.00 2.75 12.38 2.750 2.500 2.345 $320,000.00 N
600071856 REALE,ROGER C 2.00 2.75 12.38 2.750 2.500 2.345 $330,000.00 N
600071857 PACE,PHILIP P 2.00 2.75 12.38 2.750 2.500 2.345 $252,500.00 N
600071858 CLEMENS,RICHARD E 2.00 2.75 12.38 2.750 2.500 2.345 $283,000.00 N
600071859 MAPES,JOHN S 2.00 2.75 12.38 2.750 2.500 2.345 $375,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071860 BRITTAIN,J. T 3328 LYON DRIVE LEXINGTON KY 40513 $154,498.87
600071861 ALPERT,STEVEN P 9512 TULLIS DRIVE (BEVERLY H CA 90210 $322,718.77
600071862 BARNES,JAMES E 8829 N SACKETT DRIVE PARK CITY UT 84098 $317,496.61
600071863 DURRELL,ROBERT R 1140 TRUMAN STREET REDWOOD CI CA 94061 $269,872.08
600071864 WESOLOWSKI,EDWARD A 1514 BRANDWINE BLVD WILMINGTON DE 19809 $222,157.78
600071865 NEWMAN,NORMAN I 43 ORCHARD REST RO SHERMAN CT 6784 $302,109.16
600071866 DEUTSCH,MARY C 2242 E TERRARIDGE DRIV HIGHLANDS CO 80126 $231,772.50
600071867 GREEN,ROBERT 69 WOODLAND STREET TENAFLY NJ 7670 $595,788.56
600071868 HARDERSEN,DEANNA L 10594 SCOTT MILL ROAD JACKSONVIL FL 32257 $281,282.18
600071869 MARIO,CARTER E 157 NEWTON ROAD WOODBRIDGE CT 6525 $286,556.67
600071870 TOW,CHRISTOPHER K 366 MERIDIAN DRIVE REDWOOD CI CA 94065 $203,396.20
600071871 PERFETTO,DARLENE 823 SPRINGDALE ROAD ATLANTA GA 30306 $544,697.96
600071872 YOUNGIII,JAMES S 6229 PASADENA POINT GULFPORT FL 33707 $248,035.09
600071873 RICHTER,HANS F 5514 LAKE PLACE DRIV HOUSTON TX 77041 $272,871.12
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071860 BRITTAIN,J. T 7.375 .250 7.125 .1550 6.970 12/01/2026
600071861 ALPERT,STEVEN P 7.375 .250 7.125 .1550 6.970 12/01/2026
600071862 BARNES,JAMES E 7.375 .250 7.125 .1550 6.970 11/01/2026
600071863 DURRELL,ROBERT R 7.375 .250 7.125 .1550 6.970 11/01/2026
600071864 WESOLOWSKI,EDWARD A 7.375 .250 7.125 .1550 6.970 12/01/2026
600071865 NEWMAN,NORMAN I 7.375 .250 7.125 .1550 6.970 01/01/2027
600071866 DEUTSCH,MARY C 7.375 .250 7.125 .1550 6.970 11/01/2026
600071867 GREEN,ROBERT 7.375 .250 7.125 .1550 6.970 12/01/2026
600071868 HARDERSEN,DEANNA L 7.375 .250 7.125 .1550 6.970 11/01/2026
600071869 MARIO,CARTER E 7.375 .250 7.125 .1550 6.970 11/01/2026
600071870 TOW,CHRISTOPHER K 7.375 .250 7.125 .1550 6.970 11/01/2026
600071871 PERFETTO,DARLENE 7.375 .250 7.125 .1550 6.970 11/01/2026
600071872 YOUNGIII,JAMES S 7.375 .250 7.125 .1550 6.970 11/01/2026
600071873 RICHTER,HANS F 7.375 .250 7.125 .1550 6.970 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071860 BRITTAIN,J. T 92410093 $1,077.45 09/01/1997 360
600071861 ALPERT,STEVEN P 92409803 $2,244.70 09/01/1997 360
600071862 BARNES,JAMES E 92409360 $2,210.16 09/01/1997 360
600071863 DURRELL,ROBERT R 92409339 $1,878.64 09/01/1997 360
600071864 WESOLOWSKI,EDWARD A 92408836 $1,560.93 09/01/1997 360
600071865 NEWMAN,NORMAN I 92408779 $2,099.65 09/01/1997 360
600071866 DEUTSCH,MARY C 92407663 $1,613.42 09/01/1997 360
600071867 GREEN,ROBERT 92407204 $4,144.05 09/01/1997 360
600071868 HARDERSEN,DEANNA L 92406530 $1,958.06 19 09/01/1997 360
600071869 MARIO,CARTER E 92405932 $2,002.96 09/01/1997 360
600071870 TOW,CHRISTOPHER K 92405807 $1,415.89 09/01/1997 360
600071871 PERFETTO,DARLENE 92405369 $3,791.81 19 09/01/1997 360
600071872 YOUNGIII,JAMES S 92405168 $1,726.69 09/01/1997 360
600071873 RICHTER,HANS F 92404416 $1,897.98 3 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071860 BRITTAIN,J. T 2.00 2.75 12.38 2.750 2.500 2.345 $195,000.00 N
600071861 ALPERT,STEVEN P 2.00 2.75 12.38 2.750 2.500 2.345 $587,500.00 N
600071862 BARNES,JAMES E 2.00 2.75 12.38 2.750 2.500 2.345 $400,000.00 N
600071863 DURRELL,ROBERT R 2.00 2.75 12.38 2.750 2.500 2.345 $340,000.00 N
600071864 WESOLOWSKI,EDWARD A 2.00 2.75 12.38 2.750 2.500 2.345 $313,000.00 N
600071865 NEWMAN,NORMAN I 2.00 2.75 12.38 2.750 2.500 2.345 $380,000.00 N
600071866 DEUTSCH,MARY C 2.00 2.75 12.38 2.750 2.500 2.345 $292,000.00 N
600071867 GREEN,ROBERT 2.00 2.75 12.38 2.750 2.500 2.345 $950,000.00 N
600071868 HARDERSEN,DEANNA L 2.00 2.75 12.38 2.750 2.500 2.345 $315,000.00 N
600071869 MARIO,CARTER E 2.00 2.75 12.38 2.750 2.500 2.345 $545,000.00 N
600071870 TOW,CHRISTOPHER K 2.00 2.75 12.38 2.750 2.500 2.345 $260,361.00 N
600071871 PERFETTO,DARLENE 2.00 2.75 12.38 2.750 2.500 2.345 $610,000.00 N
600071872 YOUNGIII,JAMES S 2.00 2.75 12.38 2.750 2.500 2.345 $315,000.00 N
600071873 RICHTER,HANS F 2.00 2.75 12.38 2.750 2.500 2.345 $289,276.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 33
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071874 NIEBERG,OWEN 83 OVERBROOK DRIVE STAMFORD CT 6906 $288,921.86
600071875 CARR,THOMAS A 2 MARTINS LANE NANTUCKET MA 2554 $317,496.61
600071876 O'LEARY,KEVIN P 4206 LAKEWAY BOULEVA AUSTIN TX 78734 $319,977.02
600071877 MEYER,GREGORY A 5519 S GARFIELD AVENUE HINSDALE IL 60521 $418,698.63
600071880 KOZAN,JONATHAN S 2865 E FOX STREET MESA AZ 85044 $226,840.61
600071881 NELSONJR.,RICHARD E 27 SLEEPY HOLLOW R NEWTOWN CT 6470 $274,283.34
600071883 SALINARDI,JOSEPH 3 FIELDING TERR PARAMUS NJ 7652 $238,053.87
600071915 KRUEGER,DAVID C 4 FOX HILL ROAD TEWKSBURY NJ 8833 $274,978.95
600071922 HEYMAN,TOMAS J 65 HIGH RIDGE ROAD MONTGOMERY NJ 8558 $595,306.13
600071950 BURKEJR.,ROBERT M 8450 BUCKINGHAM COUR WILLOW SPR IL 60480 $274,502.55
600071951 BERMEAII,RICHARD 6031 HAWTHORN ST GILROY CA 95020 $229,066.28
600071952 DOAN,HINH 4258 VERDIGRIS CIRCL SAN JOSE CA 95134 $242,432.59
600071953 FELTER,DAVID S 1603 LUPINE DEN COUR VIENNA VA 22182 $420,147.61
600071954 MCLENDON,VALERIE R 3009 ARBOR OAKS DRIV ARLINGTN TX 76006 $234,905.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071874 NIEBERG,OWEN 7.375 .250 7.125 .1550 6.970 11/01/2026
600071875 CARR,THOMAS A 7.375 .250 7.125 .1550 6.970 11/01/2026
600071876 O'LEARY,KEVIN P 7.375 .250 7.125 .1550 6.970 11/01/2026
600071877 MEYER,GREGORY A 7.375 .250 7.125 .1550 6.970 11/01/2026
600071880 KOZAN,JONATHAN S 7.375 .250 7.125 .1550 6.970 11/01/2026
600071881 NELSONJR.,RICHARD E 7.375 .250 7.125 .1550 6.970 01/01/2027
600071883 SALINARDI,JOSEPH 7.375 .250 7.125 .1550 6.970 11/01/2026
600071915 KRUEGER,DAVID C 7.375 .250 7.125 .1550 6.970 01/01/2027
600071922 HEYMAN,TOMAS J 7.375 .250 7.125 .1550 6.970 11/01/2026
600071950 BURKEJR.,ROBERT M 7.375 .250 7.125 .1550 6.970 02/01/2027
600071951 BERMEAII,RICHARD 7.375 .250 7.125 .1550 6.970 01/01/2027
600071952 DOAN,HINH 7.375 .250 7.125 .1550 6.970 01/01/2027
600071953 FELTER,DAVID S 7.375 .250 7.125 .1550 6.970 01/01/2027
600071954 MCLENDON,VALERIE R 7.375 .250 7.125 .1550 6.970 03/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071874 NIEBERG,OWEN 92404249 $2,011.25 09/01/1997 360
600071875 CARR,THOMAS A 92402515 $2,210.16 09/01/1997 360
600071876 O'LEARY,KEVIN P 92402052 $2,227.43 09/01/1997 360
600071877 MEYER,GREGORY A 92401760 $2,914.65 09/01/1997 360
600071880 KOZAN,JONATHAN S 92400022 $1,579.23 2 09/01/1997 360
600071881 NELSONJR.,RICHARD E 91896779 $1,906.26 09/01/1997 360
600071883 SALINARDI,JOSEPH 91893985 $1,657.62 09/01/1997 360
600071915 KRUEGER,DAVID C 91865275 $1,911.10 09/01/1997 360
600071922 HEYMAN,TOMAS J 91853226 $4,144.05 09/01/1997 360
600071950 BURKEJR.,ROBERT M 92417500 $1,906.26 09/01/1997 360
600071951 BERMEAII,RICHARD 92416699 $1,592.01 7 09/01/1997 360
600071952 DOAN,HINH 92415467 $1,684.91 09/01/1997 360
600071953 FELTER,DAVID S 92415321 $2,922.94 09/01/1997 360
600071954 MCLENDON,VALERIE R 92415013 $1,629.99 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071874 NIEBERG,OWEN 2.00 2.75 12.38 2.750 2.500 2.345 $364,000.00 N
600071875 CARR,THOMAS A 2.00 2.75 12.38 2.750 2.500 2.345 $591,500.00 N
600071876 O'LEARY,KEVIN P 2.00 2.75 12.38 2.750 2.500 2.345 $430,000.00 N
600071877 MEYER,GREGORY A 2.00 2.75 12.38 2.750 2.500 2.345 $527,500.00 N
600071880 KOZAN,JONATHAN S 2.00 2.75 12.38 2.750 2.500 2.345 $240,706.00 N
600071881 NELSONJR.,RICHARD E 2.00 2.75 12.38 2.750 2.500 2.345 $345,250.00 N
600071883 SALINARDI,JOSEPH 2.00 2.75 12.38 2.750 2.500 2.345 $355,000.00 N
600071915 KRUEGER,DAVID C 2.00 2.75 12.38 2.750 2.500 2.345 $390,000.00 N
600071922 HEYMAN,TOMAS J 2.00 2.75 12.38 2.750 2.500 2.345 $750,000.00 N
600071950 BURKEJR.,ROBERT M 2.00 2.75 12.38 2.750 2.500 2.345 $345,000.00 N
600071951 BERMEAII,RICHARD 2.00 2.75 12.38 2.750 2.500 2.345 $242,645.00 N
600071952 DOAN,HINH 2.00 2.75 12.38 2.750 2.500 2.345 $304,990.00 N
600071953 FELTER,DAVID S 2.00 2.75 12.38 2.750 2.500 2.345 $529,011.00 N
600071954 MCLENDON,VALERIE R 2.00 2.75 12.38 2.750 2.500 2.345 $300,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 34
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071955 MARTIN,JAY 14 CLUB VISTA DOVE CANYO CA 92679 $276,072.08
600071956 OAKLAND,ROBERT 5787 WIMSEY AVENUE N BAINBRIDGE WA 98110 $245,363.44
600071957 SEDORE,JAMES P 2 CHESTNUT PLACE LEBANON NJ 8833 $248,245.21
600071958 SANTORO,VICTOR R 4531 DULCINEA CT. LOS ANGELE CA 91364 $401,783.47
600071959 BARNES,FREDERICK 81 SLIKER ROAD GLEN GARDN NJ 8826 $206,540.08
600071960 OWEN,RICHARD J 1229 CORDELIA AVE SAN JOSE CA 95129 $373,547.46
600071963 BURKE,EDWARD R 31 BAYBERRY DUNES BETHANY BE DE 19930 $247,841.94
600071965 LEONARDI,KENNETH J 23799 SHOOTING STAR D GOLDEN CO 80401 $321,725.79
600071968 O'BRIEN,KEVIN M 28 LEWIS RD TRUMBULL CT 6611 $273,442.75
600071969 GANSEMER,STEVEN J 705 41ST AVENUE NOR ROCHESTER MN 55901 $83,477.50
600071970 WIRICK,ROY K 7326 CADENCIA CARLSBAD CA 92009 $517,120.43
600071971 GESSWEIN,DAVID L 802 SAINT ANNE DRIV STREET MD 21154 $228,752.05
600071972 OTT,ROBERT R 35 CLIFF ROAD WESTON MA 2193 $645,957.04
600071973 TREES,JACQUELINE 2681 CARMAR DRIVE LOS ANGELE CA 90046 $386,269.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071955 MARTIN,JAY 7.375 .250 7.125 .1550 6.970 01/01/2027
600071956 OAKLAND,ROBERT 7.375 .250 7.125 .1550 6.970 10/01/2026
600071957 SEDORE,JAMES P 7.375 .250 7.125 .1550 6.970 12/01/2026
600071958 SANTORO,VICTOR R 7.375 .250 7.125 .1550 6.970 12/01/2026
600071959 BARNES,FREDERICK 7.375 .250 7.125 .1550 6.970 12/01/2026
600071960 OWEN,RICHARD J 7.375 .250 7.125 .1550 6.970 10/01/2026
600071963 BURKE,EDWARD R 7.375 .250 7.125 .1550 6.970 10/01/2026
600071965 LEONARDI,KENNETH J 7.375 .250 7.125 .1550 6.970 12/01/2026
600071968 O'BRIEN,KEVIN M 7.375 .250 7.125 .1550 6.970 04/01/2027
600071969 GANSEMER,STEVEN J 7.375 .250 7.125 .1550 6.970 01/01/2027
600071970 WIRICK,ROY K 7.375 .250 7.125 .1550 6.970 02/01/2027
600071971 GESSWEIN,DAVID L 7.375 .250 7.125 .1550 6.970 02/01/2027
600071972 OTT,ROBERT R 7.375 .250 7.125 .1550 6.970 01/01/2027
600071973 TREES,JACQUELINE 7.375 .250 7.125 .1550 6.970 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071955 MARTIN,JAY 92406641 $1,918.70 1 09/01/1997 360
600071956 OAKLAND,ROBERT 92404822 $1,709.43 19 09/01/1997 360
600071957 SEDORE,JAMES P 92404375 $1,726.69 3 09/01/1997 360
600071958 SANTORO,VICTOR R 92402794 $2,849.03 09/01/1997 360
600071959 BARNES,FREDERICK 92400862 $1,436.60 09/01/1997 360
600071960 OWEN,RICHARD J 91899633 $2,602.46 09/01/1997 360
600071963 BURKE,EDWARD R 91898862 $1,726.69 09/01/1997 360
600071965 LEONARDI,KENNETH J 91895582 $2,237.79 14 09/01/1997 360
600071968 O'BRIEN,KEVIN M 92419338 $1,895.90 3 09/01/1997 360
600071969 GANSEMER,STEVEN J 92418583 $580.17 09/01/1997 360
600071970 WIRICK,ROY K 92418510 $3,591.51 09/01/1997 360
600071971 GESSWEIN,DAVID L 92415712 $1,588.56 09/01/1997 360
600071972 OTT,ROBERT R 92414184 $4,489.39 09/01/1997 360
600071973 TREES,JACQUELINE 92412401 $2,686.73 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071955 MARTIN,JAY 2.00 2.75 12.38 2.750 2.500 2.345 $308,869.00 N
600071956 OAKLAND,ROBERT 2.00 2.75 12.38 2.750 2.500 2.345 $275,000.00 N
600071957 SEDORE,JAMES P 2.00 2.75 12.38 2.750 2.500 2.345 $278,500.00 N
600071958 SANTORO,VICTOR R 2.00 2.75 12.38 2.750 2.500 2.345 $550,000.00 N
600071959 BARNES,FREDERICK 2.00 2.75 12.38 2.750 2.500 2.345 $450,000.00 N
600071960 OWEN,RICHARD J 2.00 2.75 12.38 2.750 2.500 2.345 $471,000.00 N
600071963 BURKE,EDWARD R 2.00 2.75 12.38 2.750 2.500 2.345 $410,000.00 N
600071965 LEONARDI,KENNETH J 2.00 2.75 12.38 2.750 2.500 2.345 $360,000.00 N
600071968 O'BRIEN,KEVIN M 2.00 2.75 12.38 2.750 2.500 2.345 $305,000.00 N
600071969 GANSEMER,STEVEN J 2.00 2.75 12.38 2.750 2.500 2.345 $105,000.00 N
600071970 WIRICK,ROY K 2.00 2.75 12.38 2.750 2.500 2.345 $650,000.00 N
600071971 GESSWEIN,DAVID L 2.00 2.75 12.38 2.750 2.500 2.345 $350,000.00 N
600071972 OTT,ROBERT R 2.00 2.75 12.38 2.750 2.500 2.345 $832,500.00 N
600071973 TREES,JACQUELINE 2.00 2.75 12.38 2.750 2.500 2.345 $525,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 35
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071974 FAZIO,JOHN W 1863 WAZEE STREET DENVER CO 80202 $241,488.57
600071975 MCQUEEN,DANIEL M 3460 CORTE SONRISA CARLSBAD CA 92009 $323,823.20
600071976 ROAKE,STEPHEN M 10650 RIVERA PLACE NO SEATTLE WA 98125 $316,318.98
600071977 ILCHERT,DAVID T 28432 VIA NANDINA LAGUNA NIG CA 92677 $210,021.26
600071978 STARBUCK,JERRY G 723 GLOUCHESTER STR BOCA RATON FL 33487 $245,859.30
600071979 VIKNER,DAVID 11 FAIRLAWN STREET HO-HO-KUS NJ 7423 $342,021.91
600071980 HOLT,GLENN N 360 CRESTVIEW DRIVE SANTA CLAR CA 95050 $212,549.26
600071981 STEEVES,MARK A 10463 ILONA AVENUE LOS ANGELE CA 90064 $456,029.18
600071982 TRAMPEDACH,KURT G 62 PICKWAY WAY UN WAYLAND MA 1778 $222,066.43
600071983 MANSOR,NICHOLAS 704 22ND STREET AVALON NJ 8202 $242,064.06
600071984 COSTA,PATRICE 401 STEPHEN ROAD SAN MATEO CA 94403 $356,222.68
600071985 GIBSON,MYRON O 22217 CAMILLE WOODHAVEN MI 48183 $132,267.20
600071986 BRAVERMAN,LEONARD W 21 CORNELL ROAD NEW FAIRFI CT 6812 $268,748.22
600071987 BARDENHEIERJR.,GEORGE E 906 TALL GRASS COUR ST. CHARLE IL 60174 $277,354.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071974 FAZIO,JOHN W 7.375 .250 7.125 .1550 6.970 01/01/2027
600071975 MCQUEEN,DANIEL M 7.375 .250 7.125 .1550 6.970 01/01/2027
600071976 ROAKE,STEPHEN M 7.375 .250 7.125 .1550 6.970 12/01/2026
600071977 ILCHERT,DAVID T 7.375 .250 7.125 .1550 6.970 10/01/2026
600071978 STARBUCK,JERRY G 7.375 .250 7.125 .1550 6.970 10/01/2026
600071979 VIKNER,DAVID 7.375 .250 7.125 .1550 6.970 10/01/2026
600071980 HOLT,GLENN N 7.375 .250 7.125 .1550 6.970 10/01/2026
600071981 STEEVES,MARK A 7.375 .250 7.125 .1550 6.970 10/01/2026
600071982 TRAMPEDACH,KURT G 7.375 .250 7.125 .1550 6.970 10/01/2026
600071983 MANSOR,NICHOLAS 7.375 .250 7.125 .1550 6.970 04/01/2027
600071984 COSTA,PATRICE 7.375 .250 7.125 .1550 6.970 04/01/2027
600071985 GIBSON,MYRON O 7.375 .250 7.125 .1550 6.970 03/01/2027
600071986 BRAVERMAN,LEONARD W 7.375 .250 7.125 .1550 6.970 03/01/2027
600071987 BARDENHEIERJR.,GEORGE E 7.375 .250 7.125 .1550 6.970 02/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071974 FAZIO,JOHN W 92410219 $1,678.34 2 09/01/1997 360
600071975 MCQUEEN,DANIEL M 92410039 $2,250.57 1 09/01/1997 360
600071976 ROAKE,STEPHEN M 92409370 $2,210.17 09/01/1997 360
600071977 ILCHERT,DAVID T 92403378 $1,463.20 2 09/01/1997 360
600071978 STARBUCK,JERRY G 92400803 $1,712.87 09/01/1997 360
600071979 VIKNER,DAVID 92400511 $2,382.83 09/01/1997 360
600071980 HOLT,GLENN N 92400378 $1,480.81 09/01/1997 360
600071981 STEEVES,MARK A 92400359 $3,177.11 09/01/1997 360
600071982 TRAMPEDACH,KURT G 92400306 $1,547.11 09/01/1997 360
600071983 MANSOR,NICHOLAS 91880894 $1,678.34 09/01/1997 360
600071984 COSTA,PATRICE 92422913 $2,469.85 09/01/1997 360
600071985 GIBSON,MYRON O 92419624 $917.91 19 09/01/1997 360
600071986 BRAVERMAN,LEONARD W 92418671 $1,864.82 09/01/1997 360
600071987 BARDENHEIERJR.,GEORGE E 92418439 $1,934.58 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071974 FAZIO,JOHN W 2.00 2.75 12.38 2.750 2.500 2.345 $270,000.00 N
600071975 MCQUEEN,DANIEL M 2.00 2.75 12.38 2.750 2.500 2.345 $362,059.00 N
600071976 ROAKE,STEPHEN M 2.00 2.75 12.38 2.750 2.500 2.345 $800,000.00 N
600071977 ILCHERT,DAVID T 2.00 2.75 12.38 2.750 2.500 2.345 $223,000.00 N
600071978 STARBUCK,JERRY G 2.00 2.75 12.38 2.750 2.500 2.345 $310,000.00 N
600071979 VIKNER,DAVID 2.00 2.75 12.38 2.750 2.500 2.345 $435,000.00 N
600071980 HOLT,GLENN N 2.00 2.75 12.38 2.750 2.500 2.345 $268,000.00 N
600071981 STEEVES,MARK A 2.00 2.75 12.38 2.750 2.500 2.345 $575,000.00 N
600071982 TRAMPEDACH,KURT G 2.00 2.75 12.38 2.750 2.500 2.345 $280,000.00 N
600071983 MANSOR,NICHOLAS 2.00 2.75 12.38 2.750 2.500 2.345 $303,750.00 N
600071984 COSTA,PATRICE 2.00 2.75 12.38 2.750 2.500 2.345 $447,000.00 N
600071985 GIBSON,MYRON O 2.00 2.75 12.38 2.750 2.500 2.345 $139,900.00 N
600071986 BRAVERMAN,LEONARD W 2.00 2.75 12.38 2.750 2.500 2.345 $360,000.00 N
600071987 BARDENHEIERJR.,GEORGE E 2.00 2.75 12.38 2.750 2.500 2.345 $410,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 36
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600071988 HENN,BENEDICT A 5666 DUDDINGSTON DR DUBLIN OH 43017 $240,743.16
600071989 PANDEY,RAJIV 708 SASSAFRAS COURT MARLTON NJ 8053 $80,980.52
600071990 WEINMEISTER,DEAN A 2640 231ST PLACE SOU ISSAQUAH WA 98029 $231,451.33
600071991 MONOGENIS,EMANUEL 60 KINGS HILL ROAD SHARON CT 6069 $477,395.68
600071992 MCDONALD,GLENN G 23 WESLEY WOOD COU KINGSVILLE MD 21087 $290,360.73
600071993 BLOSE,KATHERINE M 196 WOLFPIT AVE NORWALK CT 6851 $227,204.45
600071995 MARKOWSKI,EUGENE P 33 TOKENEKE TRAIL DARIEN CT 6820 $744,735.75
600071996 BREWER,RICHARD B 115 ERICSON ROAD HILLSBOROU CA 94010 $694,523.78
600071997 HOUNTALAS,MICHAEL R 18 STETSON AVENUE KENTFIELD CA 94904 $465,942.95
600071998 GITS,MICHAEL G 3932 PROMENADE WAY PLEASANTON CA 94566 $228,597.51
600071999 CRISCI,PAUL A 472 PARROTT DRIVE SAN MATEO CA 94402 $582,081.34
600072002 GOOSMAN,MICHAEL J 147 ORCHARD ST. BLOOMFIELD NJ 7003 $118,964.14
600072005 GORDON,STANLEY 1314 MOUNT PLEASANT VILLANOVA PA 19085 $772,088.04
600072006 BLAIR,STEVEN D 7500 PINEHURST DRIVE CINCINNATI OH 45244 $398,190.78
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600071988 HENN,BENEDICT A 7.375 .250 7.125 .1550 6.970 01/01/2027
600071989 PANDEY,RAJIV 7.375 .250 7.125 .1550 6.970 01/01/2027
600071990 WEINMEISTER,DEAN A 7.375 .250 7.125 .1550 6.970 01/01/2027
600071991 MONOGENIS,EMANUEL 7.375 .250 7.125 .1550 6.970 02/01/2027
600071992 MCDONALD,GLENN G 7.375 .250 7.125 .1550 6.970 12/01/2026
600071993 BLOSE,KATHERINE M 7.375 .250 7.125 .1550 6.970 12/01/2026
600071995 MARKOWSKI,EUGENE P 7.375 .250 7.125 .1550 6.970 12/01/2026
600071996 BREWER,RICHARD B 7.375 .250 7.125 .1550 6.970 11/01/2026
600071997 HOUNTALAS,MICHAEL R 7.375 .250 7.125 .1550 6.970 10/01/2026
600071998 GITS,MICHAEL G 7.375 .250 7.125 .1550 6.970 11/01/2026
600071999 CRISCI,PAUL A 7.375 .250 7.125 .1550 6.970 10/01/2026
600072002 GOOSMAN,MICHAEL J 7.375 .250 7.125 .1550 6.970 10/01/2026
600072005 GORDON,STANLEY 7.500 .250 7.250 .1550 7.095 04/01/2027
600072006 BLAIR,STEVEN D 7.500 .250 7.250 .1550 7.095 03/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600071988 HENN,BENEDICT A 92416164 $1,673.17 09/01/1997 360
600071989 PANDEY,RAJIV 92415114 $564.28 09/01/1997 360
600071990 WEINMEISTER,DEAN A 92414964 $1,608.59 09/01/1997 360
600071991 MONOGENIS,EMANUEL 92414779 $3,315.24 09/01/1997 360
600071992 MCDONALD,GLENN G 92409944 $2,037.50 7 09/01/1997 360
600071993 BLOSE,KATHERINE M 92407518 $1,583.55 2 09/01/1997 360
600071995 MARKOWSKI,EUGENE P 92407286 $5,180.06 09/01/1997 360
600071996 BREWER,RICHARD B 92406715 $4,834.73 09/01/1997 360
600071997 HOUNTALAS,MICHAEL R 92404203 $3,246.17 09/01/1997 360
600071998 GITS,MICHAEL G 92402709 $1,591.32 3 09/01/1997 360
600071999 CRISCI,PAUL A 92401894 $4,055.64 09/01/1997 360
600072002 GOOSMAN,MICHAEL J 91894020 $828.81 09/01/1997 360
600072005 GORDON,STANLEY 92422559 $5,418.91 09/01/1997 360
600072006 BLAIR,STEVEN D 92420952 $2,796.86 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600071988 HENN,BENEDICT A 2.00 2.75 12.38 2.750 2.500 2.345 $323,000.00 N
600071989 PANDEY,RAJIV 2.00 2.75 12.38 2.750 2.500 2.345 $106,500.00 N
600071990 WEINMEISTER,DEAN A 2.00 2.75 12.38 2.750 2.500 2.345 $310,574.00 N
600071991 MONOGENIS,EMANUEL 2.00 2.75 12.38 2.750 2.500 2.345 $600,000.00 N
600071992 MCDONALD,GLENN G 2.00 2.75 12.38 2.750 2.500 2.345 $333,000.00 N
600071993 BLOSE,KATHERINE M 2.00 2.75 12.38 2.750 2.500 2.345 $254,750.00 N
600071995 MARKOWSKI,EUGENE P 2.00 2.75 12.38 2.750 2.500 2.345 $1,720,000.00 N
600071996 BREWER,RICHARD B 2.00 2.75 12.38 2.750 2.500 2.345 $1,225,000.00 N
600071997 HOUNTALAS,MICHAEL R 2.00 2.75 12.38 2.750 2.500 2.345 $660,000.00 N
600071998 GITS,MICHAEL G 2.00 2.75 12.38 2.750 2.500 2.345 $256,000.00 N
600071999 CRISCI,PAUL A 2.00 2.75 12.38 2.750 2.500 2.345 $734,000.00 N
600072002 GOOSMAN,MICHAEL J 2.00 2.75 12.38 2.750 2.500 2.345 $162,000.00 N
600072005 GORDON,STANLEY 2.00 2.75 12.50 2.750 2.500 2.345 $1,250,000.00 N
600072006 BLAIR,STEVEN D 2.00 2.75 12.50 2.750 2.500 2.345 $527,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 37
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072008 PETERMAN,JOHN H 3025 MONTAVESTA ROAD LEXINGTON KY 40502 $186,651.92
600072009 WUSSLER,ROBERT J ONE CENTRAL PARK WE BOROUGH OF NY 10023 $146,191.47
600072010 NOLANIII,THOMAS F 755 OLD MILL ROAD ERIE PA 16505 $162,760.47
600072011 ORNER,DAN R 7327 TAMARRON PLACE WEST CHEST OH 45039 $532,989.78
600072012 ALLENSON,EVAN S 606 HARTS RIDGE RD WHITEMARSH PA 19428 $582,354.06
600072013 KRONE,MARK U 8203 BAYWOOD COURT MAINEVILLE OH 45039 $386,421.13
600072015 HIGGINS,EDWARD T 37 RIVER AVENUE MONMOUTH B NJ 7750 $263,203.82
600072016 SWARTZMAN,GAVIN 465 N SWEET GUM LA LAFAYETTE PA 19444 $270,172.44
600072017 POWERS,RONALD D 631 OSAGE ROAD PITTSBURGH PA 15243 $365,766.74
600072018 HOOLE,ROGER H 4579 S FARM MEADOW LAN SALT LAKE UT 84117 $277,306.82
600072019 LEGROS,JAMES 3550 AMESBURY ROAD LOS ANGELE CA 90027 $345,616.61
600072020 HAVENS,DAVID A 969 SMITH RIDGE ROA NEW CANAAN CT 6840 $337,671.42
600072021 MAYFIELD,RAY S 1807 N WAYNE STREET ARLINGTON VA 22201 $223,530.41
600072022 BELOFF,DEBORAH 2435 BEDFORD STREET STAMFORD CT 6901 $214,861.59
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072008 PETERMAN,JOHN H 7.500 .250 7.250 .1550 7.095 03/01/2027
600072009 WUSSLER,ROBERT J 7.500 .250 7.250 .1550 7.095 02/01/2027
600072010 NOLANIII,THOMAS F 7.500 .250 7.250 .1550 7.095 03/01/2027
600072011 ORNER,DAN R 7.500 .250 7.250 .1550 7.095 04/01/2027
600072012 ALLENSON,EVAN S 7.500 .250 7.250 .1550 7.095 03/01/2027
600072013 KRONE,MARK U 7.500 .250 7.250 .1550 7.095 01/01/2027
600072015 HIGGINS,EDWARD T 7.500 .250 7.250 .1550 7.095 03/01/2027
600072016 SWARTZMAN,GAVIN 7.500 .250 7.250 .1550 7.095 03/01/2027
600072017 POWERS,RONALD D 7.500 .250 7.250 .1550 7.095 01/01/2027
600072018 HOOLE,ROGER H 7.500 .250 7.250 .1550 7.095 01/01/2027
600072019 LEGROS,JAMES 7.500 .250 7.250 .1550 7.095 12/01/2026
600072020 HAVENS,DAVID A 7.500 .250 7.250 .1550 7.095 12/01/2026
600072021 MAYFIELD,RAY S 7.500 .250 7.250 .1550 7.095 11/01/2026
600072022 BELOFF,DEBORAH 7.500 .250 7.250 .1550 7.095 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072008 PETERMAN,JOHN H 92418827 $1,311.03 09/01/1997 360
600072009 WUSSLER,ROBERT J 92418511 $1,048.82 09/01/1997 360
600072010 NOLANIII,THOMAS F 92418210 $1,143.22 09/01/1997 360
600072011 ORNER,DAN R 92416924 $3,740.80 09/01/1997 360
600072012 ALLENSON,EVAN S 92416777 $4,090.40 09/01/1997 360
600072013 KRONE,MARK U 92415864 $2,726.94 09/01/1997 360
600072015 HIGGINS,EDWARD T 92414612 $1,852.92 09/01/1997 360
600072016 SWARTZMAN,GAVIN 92414119 $1,897.67 3 09/01/1997 360
600072017 POWERS,RONALD D 92414095 $2,573.11 09/01/1997 360
600072018 HOOLE,ROGER H 92413184 $1,950.81 09/01/1997 360
600072019 LEGROS,JAMES 92408393 $2,433.27 09/01/1997 360
600072020 HAVENS,DAVID A 92408193 $2,377.33 09/01/1997 360
600072021 MAYFIELD,RAY S 92407741 $1,574.99 09/01/1997 360
600072022 BELOFF,DEBORAH 92407724 $1,513.80 2 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072008 PETERMAN,JOHN H 2.00 2.75 12.50 2.750 2.500 2.345 $250,000.00 N
600072009 WUSSLER,ROBERT J 2.00 2.75 12.50 2.750 2.500 2.345 $214,481.00 N
600072010 NOLANIII,THOMAS F 2.00 2.75 12.50 2.750 2.500 2.345 $242,000.00 N
600072011 ORNER,DAN R 2.00 2.75 12.50 2.750 2.500 2.345 $1,250,000.00 N
600072012 ALLENSON,EVAN S 2.00 2.75 12.50 2.750 2.500 2.345 $775,000.00 N
600072013 KRONE,MARK U 2.00 2.75 12.50 2.750 2.500 2.345 $525,000.00 N
600072015 HIGGINS,EDWARD T 2.00 2.75 12.50 2.750 2.500 2.345 $600,000.00 N
600072016 SWARTZMAN,GAVIN 2.00 2.75 12.50 2.750 2.500 2.345 $285,750.00 N
600072017 POWERS,RONALD D 2.00 2.75 12.50 2.750 2.500 2.345 $460,000.00 N
600072018 HOOLE,ROGER H 2.00 2.75 12.50 2.750 2.500 2.345 $349,000.00 N
600072019 LEGROS,JAMES 2.00 2.75 12.50 2.750 2.500 2.345 $435,000.00 N
600072020 HAVENS,DAVID A 2.00 2.75 12.50 2.750 2.500 2.345 $425,000.00 N
600072021 MAYFIELD,RAY S 2.00 2.75 12.50 2.750 2.500 2.345 $291,095.00 N
600072022 BELOFF,DEBORAH 2.00 2.75 12.50 2.750 2.500 2.345 $246,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 38
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072023 HARTWELL,KASSON D 246 VIA LINDA VISTA REDONDO BE CA 90277 $348,043.38
600072024 PROL,MARK T 7255 FAWN LAKE DRIVE ALPHARETTA GA 30202 $215,965.34
600072030 RAUST,ERIC H 3125 HANNAHS POND LA HERNDON VA 20171 $240,094.46
600072031 KEATING,DANIEL J 35 W 186 DUCHESNE DR DUNDEE IL 60118 $234,016.40
600072032 LEADER,KEVIN C 6251 ACACIA AVENUE OAKLAND CA 94618 $581,805.69
600072033 CASSIDY,DAVID B 2707 LIGHTHOUSE LANE CORONA DEL CA 92625 $547,933.43
600072034 RITZ,KEVIN D 1444 S UINTA COURT DENVER CO 80231 $317,801.41
600072035 NOTHDURFT,WILLIAM E 935 FEDERAL AVENUE SEATTLE WA 98102 $341,980.11
600072036 PATEL,PRAVIN T 807 LAKELAND SCHAUMBURG IL 60173 $290,134.34
600072037 YOUNGBERG,KEVIN R 5266 PELOQUIN AVENUE ANNADALE MN 55302 $378,281.22
600072038 ANDERMAN,RICHARD 42 HEDGE ROW LANE EAST HAMPT NY 11937 $518,046.13
600072039 WOLK,JOHN H 4 RAJCULA FARM RD BROOKFIELD CT 6804 $331,152.09
600072040 CONTRERAS,PAUL A 3751 KAMP DRIVE PLEASANTON CA 94588 $234,036.61
600072041 WHEELOCK,JENNIFER K 5103 WISSIOMING ROAD BETHESDA MD 20816 $420,091.25
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072023 HARTWELL,KASSON D 7.500 .250 7.250 .1550 7.095 10/01/2026
600072024 PROL,MARK T 7.500 .250 7.250 .1550 7.095 10/01/2026
600072030 RAUST,ERIC H 7.500 .250 7.250 .1550 7.095 04/01/2027
600072031 KEATING,DANIEL J 7.500 .250 7.250 .1550 7.095 04/01/2027
600072032 LEADER,KEVIN C 7.500 .250 7.250 .1550 7.095 04/01/2027
600072033 CASSIDY,DAVID B 7.500 .250 7.250 .1550 7.095 04/01/2027
600072034 RITZ,KEVIN D 7.500 .250 7.250 .1550 7.095 04/01/2027
600072035 NOTHDURFT,WILLIAM E 7.500 .250 7.250 .1550 7.095 02/01/2027
600072036 PATEL,PRAVIN T 7.500 .250 7.250 .1550 7.095 02/01/2027
600072037 YOUNGBERG,KEVIN R 7.500 .250 7.250 .1550 7.095 03/01/2027
600072038 ANDERMAN,RICHARD 7.500 .250 7.250 .1550 7.095 04/01/2027
600072039 WOLK,JOHN H 7.500 .250 7.250 .1550 7.095 04/01/2027
600072040 CONTRERAS,PAUL A 7.500 .250 7.250 .1550 7.095 03/01/2027
600072041 WHEELOCK,JENNIFER K 7.500 .250 7.250 .1550 7.095 03/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072023 HARTWELL,KASSON D 91897451 $2,454.24 2 09/01/1997 360
600072024 PROL,MARK T 91897413 $1,522.89 1 09/01/1997 360
600072030 RAUST,ERIC H 92425837 $1,685.11 09/01/1997 360
600072031 KEATING,DANIEL J 92424829 $1,643.15 2 09/01/1997 360
600072032 LEADER,KEVIN C 92424614 $4,083.41 09/01/1997 360
600072033 CASSIDY,DAVID B 92424599 $3,845.68 09/01/1997 360
600072034 RITZ,KEVIN D 92424440 $2,230.49 09/01/1997 360
600072035 NOTHDURFT,WILLIAM E 92423898 $2,403.90 19 09/01/1997 360
600072036 PATEL,PRAVIN T 92423897 $2,075.27 09/01/1997 360
600072037 YOUNGBERG,KEVIN R 92423889 $2,657.02 09/01/1997 360
600072038 ANDERMAN,RICHARD 92423512 $3,635.92 09/01/1997 360
600072039 WOLK,JOHN H 92423092 $2,324.89 19 09/01/1997 360
600072040 CONTRERAS,PAUL A 92422716 $1,643.85 7 09/01/1997 360
600072041 WHEELOCK,JENNIFER K 92422679 $2,950.69 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072023 HARTWELL,KASSON D 2.00 2.75 12.50 2.750 2.500 2.345 $390,000.00 N
600072024 PROL,MARK T 2.00 2.75 12.50 2.750 2.500 2.345 $247,000.00 N
600072030 RAUST,ERIC H 2.00 2.75 12.50 2.750 2.500 2.345 $332,000.00 N
600072031 KEATING,DANIEL J 2.00 2.75 12.50 2.750 2.500 2.345 $270,000.00 N
600072032 LEADER,KEVIN C 2.00 2.75 12.50 2.750 2.500 2.345 $730,000.00 N
600072033 CASSIDY,DAVID B 2.00 2.75 12.50 2.750 2.500 2.345 $801,000.00 N
600072034 RITZ,KEVIN D 2.00 2.75 12.50 2.750 2.500 2.345 $399,000.00 N
600072035 NOTHDURFT,WILLIAM E 2.00 2.75 12.50 2.750 2.500 2.345 $382,000.00 N
600072036 PATEL,PRAVIN T 2.00 2.75 12.50 2.750 2.500 2.345 $371,000.00 N
600072037 YOUNGBERG,KEVIN R 2.00 2.75 12.50 2.750 2.500 2.345 $475,000.00 N
600072038 ANDERMAN,RICHARD 2.00 2.75 12.50 2.750 2.500 2.345 $650,000.00 N
600072039 WOLK,JOHN H 2.00 2.75 12.50 2.750 2.500 2.345 $350,000.00 N
600072040 CONTRERAS,PAUL A 2.00 2.75 12.50 2.750 2.500 2.345 $247,500.00 N
600072041 WHEELOCK,JENNIFER K 2.00 2.75 12.50 2.750 2.500 2.345 $527,675.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 39
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072042 WELSH,JOSEPH E 14215 AMHERST COURT LOS ALTOS CA 94022 $859,259.22
600072043 BOWEN,RICHARD 338 MOUNT HOLYOKE A PACIFIC PA CA 90272 $562,418.59
600072044 MURRAY,JAMES M 925 ALTURAS WAY MILL VALLE CA 94941 $418,100.33
600072045 RIGNEY,JOHN 101 OCEAN AVENUE # SANTA MONI CA 90402 $362,851.34
600072046 SPINCIC,WESLEY J 4714 BREEZY POINT DR KINGWOOD TX 77345 $294,700.57
600072047 BELL,CHRISTOPHER 17044 BROADWAY TERRAC OAKLAND CA 94611 $646,559.31
600072048 MCFADDEN,BERNARD 9 SPLIT ROCK RD NEWTOWN CT 6470 $308,597.89
600072049 MILLERII,WILLIAM P 12 ADAMS HILL ROAD NEWTOWN CT 6470 $298,643.12
600072050 ALONI,DANIEL 3096 FRANKLIN CANYON LOS ANGELE CA 90210 $429,075.25
600072051 HERR,DONALD F 6 STATION ROAD TOWNSHIP O NJ 8512 $148,766.83
600072052 KLABER,W. D 415 SUTTON CIRCLE DANVILLE CA 94526 $210,529.62
600072053 CHOI,KI Y 36 GREAT CIRCLE DR MILL VALLE CA 94941 $603,813.28
600072054 HOUSEL,CHRISTIANNE 24 WITHERSPOON COU MORRIS TOW NJ 7960 $139,258.92
600072055 LEE,MICHAEL B 3669 VINEYARD PLACE CINCINNATI OH 45226 $664,506.54
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072042 WELSH,JOSEPH E 7.500 .250 7.250 .1550 7.095 04/01/2027
600072043 BOWEN,RICHARD 7.500 .250 7.250 .1550 7.095 04/01/2027
600072044 MURRAY,JAMES M 7.500 .250 7.250 .1550 7.095 03/01/2027
600072045 RIGNEY,JOHN 7.500 .250 7.250 .1550 7.095 03/01/2027
600072046 SPINCIC,WESLEY J 7.500 .250 7.250 .1550 7.095 01/01/2027
600072047 BELL,CHRISTOPHER 7.500 .250 7.250 .1550 7.095 02/01/2027
600072048 MCFADDEN,BERNARD 7.500 .250 7.250 .1550 7.095 03/01/2027
600072049 MILLERII,WILLIAM P 7.500 .250 7.250 .1550 7.095 03/01/2027
600072050 ALONI,DANIEL 7.500 .250 7.250 .1550 7.095 03/01/2027
600072051 HERR,DONALD F 7.500 .250 7.250 .1550 7.095 03/01/2027
600072052 KLABER,W. D 7.500 .250 7.250 .1550 7.095 02/01/2027
600072053 CHOI,KI Y 7.500 .250 7.250 .1550 7.095 01/01/2027
600072054 HOUSEL,CHRISTIANNE 7.500 .250 7.250 .1550 7.095 02/01/2027
600072055 LEE,MICHAEL B 7.500 .250 7.250 .1550 7.095 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072042 WELSH,JOSEPH E 92422661 $6,030.73 09/01/1997 360
600072043 BOWEN,RICHARD 92422600 $3,950.56 09/01/1997 360
600072044 MURRAY,JAMES M 92422543 $2,936.70 09/01/1997 360
600072045 RIGNEY,JOHN 92422468 $2,548.64 19 09/01/1997 360
600072046 SPINCIC,WESLEY J 92420620 $2,073.18 09/01/1997 360
600072047 BELL,CHRISTOPHER 92420440 $4,544.89 09/01/1997 360
600072048 MCFADDEN,BERNARD 92420197 $2,167.56 09/01/1997 360
600072049 MILLERII,WILLIAM P 92419893 $2,097.64 09/01/1997 360
600072050 ALONI,DANIEL 92419101 $3,041.58 09/01/1997 360
600072051 HERR,DONALD F 92418243 $1,048.82 09/01/1997 360
600072052 KLABER,W. D 92417188 $1,479.89 19 09/01/1997 360
600072053 CHOI,KI Y 92416786 $4,247.73 09/01/1997 360
600072054 HOUSEL,CHRISTIANNE 92416396 $978.90 09/01/1997 360
600072055 LEE,MICHAEL B 92416353 $4,775.64 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072042 WELSH,JOSEPH E 2.00 2.75 12.50 2.750 2.500 2.345 $1,162,500.00 N
600072043 BOWEN,RICHARD 2.00 2.75 12.50 2.750 2.500 2.345 $765,000.00 N
600072044 MURRAY,JAMES M 2.00 2.75 12.50 2.750 2.500 2.345 $525,000.00 N
600072045 RIGNEY,JOHN 2.00 2.75 12.50 2.750 2.500 2.345 $405,000.00 N
600072046 SPINCIC,WESLEY J 2.00 2.75 12.50 2.750 2.500 2.345 $375,316.00 N
600072047 BELL,CHRISTOPHER 2.00 2.75 12.50 2.750 2.500 2.345 $860,000.00 N
600072048 MCFADDEN,BERNARD 2.00 2.75 12.50 2.750 2.500 2.345 $394,000.00 N
600072049 MILLERII,WILLIAM P 2.00 2.75 12.50 2.750 2.500 2.345 $489,000.00 N
600072050 ALONI,DANIEL 2.00 2.75 12.50 2.750 2.500 2.345 $550,000.00 N
600072051 HERR,DONALD F 2.00 2.75 12.50 2.750 2.500 2.345 $205,000.00 N
600072052 KLABER,W. D 2.00 2.75 12.50 2.750 2.500 2.345 $249,000.00 N
600072053 CHOI,KI Y 2.00 2.75 12.50 2.750 2.500 2.345 $825,000.00 N
600072054 HOUSEL,CHRISTIANNE 2.00 2.75 12.50 2.750 2.500 2.345 $180,000.00 N
600072055 LEE,MICHAEL B 2.00 2.75 12.50 2.750 2.500 2.345 $1,060,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 40
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072056 GIANAN,FLOR V 2639 COMMONWEALTH AV LOS ANGELE CA 90027 $267,406.41
600072057 KAHANE,ROBERT 4657 ENCINO AVENUE ENCINO CA 91316 $942,246.94
600072058 KAULL,KURT J 43 UPPER NORTH TER TIBURON CA 94920 $618,225.31
600072059 SPILLAR,CONNIE W 4204 RAVINE RIDGE TR AUSTIN TX 78746 $576,480.20
600072060 CRIBBS,DANIEL F 126 VASONA OAKS DRI LOS GATOS CA 95070 $258,422.12
600072061 PAGLIARA,TIMOTHY J 2698 MCLEMORE LANE FRANKLIN TN 37064 $676,921.97
600072062 ABRAMS,NEIL N 274 65TH STREET AVALON NJ 8202 $278,300.77
600072063 KABUS,ROBERT S 131 BOTHIN ROAD FAIRFAX CA 94930 $306,130.63
600072064 SMITH,JAMES O 93 W 15TH STREET AVALON NJ 8202 $278,300.77
600072065 SEWELL,DONALD J 5200 GREEN PINE LANE KALAMAZOO MI 49009 $216,100.01
600072066 MACK,JEFFREY C 164 ULTRA DRIVE HENDERSON NV 89014 $260,205.55
600072067 JONES,CARL W 117 CAPTAINE GRAVES WILLIAMSBU VA 23185 $338,763.81
600072068 HEBELER,ROBERT E 108 MOORE CREEK ROA SANTA CRUZ CA 95065 $447,266.98
600072069 KROON,JON D 750 TABOR DRIVE SCOTTS VAL CA 95066 $428,583.20
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072056 GIANAN,FLOR V 7.500 .250 7.250 .1550 7.095 01/01/2027
600072057 KAHANE,ROBERT 7.500 .250 7.250 .1550 7.095 01/01/2027
600072058 KAULL,KURT J 7.500 .250 7.250 .1550 7.095 01/01/2027
600072059 SPILLAR,CONNIE W 7.500 .250 7.250 .1550 7.095 01/01/2027
600072060 CRIBBS,DANIEL F 7.500 .250 7.250 .1550 7.095 01/01/2027
600072061 PAGLIARA,TIMOTHY J 7.500 .250 7.250 .1550 7.095 03/01/2027
600072062 ABRAMS,NEIL N 7.500 .250 7.250 .1550 7.095 01/01/2027
600072063 KABUS,ROBERT S 7.500 .250 7.250 .1550 7.095 01/01/2027
600072064 SMITH,JAMES O 7.500 .250 7.250 .1550 7.095 01/01/2027
600072065 SEWELL,DONALD J 7.500 .250 7.250 .1550 7.095 02/01/2027
600072066 MACK,JEFFREY C 7.500 .250 7.250 .1550 7.095 12/01/2026
600072067 JONES,CARL W 7.500 .250 7.250 .1550 7.095 12/01/2026
600072068 HEBELER,ROBERT E 7.500 .250 7.250 .1550 7.095 01/01/2027
600072069 KROON,JON D 7.500 .250 7.250 .1550 7.095 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072056 GIANAN,FLOR V 92415904 $1,881.59 19 09/01/1997 360
600072057 KAHANE,ROBERT 92415673 $6,628.55 09/01/1997 360
600072058 KAULL,KURT J 92415360 $4,349.11 09/01/1997 360
600072059 SPILLAR,CONNIE W 92415245 $4,055.44 09/01/1997 360
600072060 CRIBBS,DANIEL F 92415054 $1,817.96 09/01/1997 360
600072061 PAGLIARA,TIMOTHY J 92414844 $4,754.66 09/01/1997 360
600072062 ABRAMS,NEIL N 92414744 $1,957.80 09/01/1997 360
600072063 KABUS,ROBERT S 92414602 $2,153.58 09/01/1997 360
600072064 SMITH,JAMES O 92414332 $1,957.80 09/01/1997 360
600072065 SEWELL,DONALD J 92413872 $1,519.04 09/01/1997 360
600072066 MACK,JEFFREY C 92413830 $1,831.95 09/01/1997 360
600072067 JONES,CARL W 92413828 $2,385.03 2 09/01/1997 360
600072068 HEBELER,ROBERT E 92413811 $3,146.47 09/01/1997 360
600072069 KROON,JON D 92413810 $3,015.01 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072056 GIANAN,FLOR V 2.00 2.75 12.50 2.750 2.500 2.345 $283,300.00 N
600072057 KAHANE,ROBERT 2.00 2.75 12.50 2.750 2.500 2.345 $1,440,000.00 N
600072058 KAULL,KURT J 2.00 2.75 12.50 2.750 2.500 2.345 $777,500.00 N
600072059 SPILLAR,CONNIE W 2.00 2.75 12.50 2.750 2.500 2.345 $1,050,000.00 N
600072060 CRIBBS,DANIEL F 2.00 2.75 12.50 2.750 2.500 2.345 $405,000.00 N
600072061 PAGLIARA,TIMOTHY J 2.00 2.75 12.50 2.750 2.500 2.345 $985,000.00 N
600072062 ABRAMS,NEIL N 2.00 2.75 12.50 2.750 2.500 2.345 $425,000.00 N
600072063 KABUS,ROBERT S 2.00 2.75 12.50 2.750 2.500 2.345 $385,000.00 N
600072064 SMITH,JAMES O 2.00 2.75 12.50 2.750 2.500 2.345 $400,000.00 N
600072065 SEWELL,DONALD J 2.00 2.75 12.50 2.750 2.500 2.345 $338,500.00 N
600072066 MACK,JEFFREY C 2.00 2.75 12.50 2.750 2.500 2.345 $327,500.00 N
600072067 JONES,CARL W 2.00 2.75 12.50 2.750 2.500 2.345 $379,000.00 N
600072068 HEBELER,ROBERT E 2.00 2.75 12.50 2.750 2.500 2.345 $612,000.00 N
600072069 KROON,JON D 2.00 2.75 12.50 2.750 2.500 2.345 $539,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 41
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072070 NEWKIRK,MARC S 1251 CORNER KETCH RD NEWARK DE 19711 $377,599.77
600072071 CAGE,NICOLAS 5647 TRYON ROAD LOS ANGELE CA 90068 $922,876.42
600072072 COTUGNO,MARK A 1258 BRIDGEWATER DRI WEST CHEST PA 19380 $217,174.03
600072073 PARANINFO,NOEL B 807 FERDINAND AVENU EL GRANADA CA 94018 $270,285.46
600072074 FIASCO,ANTHONY F 2200 MONONGAHELA BLV MCKEESPORT PA 15132 $99,393.17
600072075 CORSCADDEN,JAMES B 401 WESTON ROAD WELLESLEY MA 2181 $226,616.34
600072076 MINER,THOMAS S 4180 ARBOLADO DRIVE WALNUT CRE CA 94598 $471,846.14
600072077 SHANK,PAUL W 35 GARDNER ROAD HIDDEN VAL PA 15502 $232,761.34
600072078 PHILLIPS,BRAD 1118 TERRADYNE ANDOVER KS 67002 $254,943.35
600072079 KURKOWSKI,DAVID C 115 READING AVENUE CAPE MAY NJ 8204 $226,616.34
600072080 LELANNIC,DIDIER J 2186 VIZCAYA CIRCLE SAN JOSE CA 95124 $297,945.42
600072081 BRENNAN,SUSAN S 5 INTERVALE STREE WELLESLEY MA 2181 $246,798.07
600072082 FRIDAY,CHARLES D 4009 OLD ORCHARD WAY GIBSONIA PA 15044 $383,356.38
600072083 TEUFEL,ZOE 81 HILARITA AVENUE MILL VALLE CA 94941 $257,970.71
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072070 NEWKIRK,MARC S 7.500 .250 7.250 .1550 7.095 01/01/2027
600072071 CAGE,NICOLAS 7.500 .250 7.250 .1550 7.095 01/01/2027
600072072 COTUGNO,MARK A 7.500 .250 7.250 .1550 7.095 01/01/2027
600072073 PARANINFO,NOEL B 7.500 .250 7.250 .1550 7.095 01/01/2027
600072074 FIASCO,ANTHONY F 7.500 .250 7.250 .1550 7.095 01/01/2027
600072075 CORSCADDEN,JAMES B 7.500 .250 7.250 .1550 7.095 01/01/2027
600072076 MINER,THOMAS S 7.500 .250 7.250 .1550 7.095 12/01/2026
600072077 SHANK,PAUL W 7.500 .250 7.250 .1550 7.095 02/01/2027
600072078 PHILLIPS,BRAD 7.500 .250 7.250 .1550 7.095 01/01/2027
600072079 KURKOWSKI,DAVID C 7.500 .250 7.250 .1550 7.095 01/01/2027
600072080 LELANNIC,DIDIER J 7.500 .250 7.250 .1550 7.095 12/01/2026
600072081 BRENNAN,SUSAN S 7.500 .250 7.250 .1550 7.095 12/01/2026
600072082 FRIDAY,CHARLES D 7.500 .250 7.250 .1550 7.095 12/01/2026
600072083 TEUFEL,ZOE 7.500 .250 7.250 .1550 7.095 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072070 NEWKIRK,MARC S 92413568 $2,657.02 09/01/1997 360
600072071 CAGE,NICOLAS 92413417 $6,572.62 09/01/1997 360
600072072 COTUGNO,MARK A 92413370 $1,527.78 09/01/1997 360
600072073 PARANINFO,NOEL B 92413157 $1,901.86 09/01/1997 360
600072074 FIASCO,ANTHONY F 92412944 $699.21 09/01/1997 360
600072075 CORSCADDEN,JAMES B 92412761 $1,594.21 09/01/1997 360
600072076 MINER,THOMAS S 92412581 $3,321.97 09/01/1997 360
600072077 SHANK,PAUL W 92412402 $1,636.16 09/01/1997 360
600072078 PHILLIPS,BRAD 92411938 $1,793.49 19 09/01/1997 360
600072079 KURKOWSKI,DAVID C 92411900 $1,594.21 09/01/1997 360
600072080 LELANNIC,DIDIER J 92411656 $2,097.64 09/01/1997 360
600072081 BRENNAN,SUSAN S 92411540 $1,737.55 2 09/01/1997 360
600072082 FRIDAY,CHARLES D 92411507 $2,698.97 09/01/1997 360
600072083 TEUFEL,ZOE 92411202 $1,817.96 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072070 NEWKIRK,MARC S 2.00 2.75 12.50 2.750 2.500 2.345 $554,000.00 N
600072071 CAGE,NICOLAS 2.00 2.75 12.50 2.750 2.500 2.345 $1,400,000.00 N
600072072 COTUGNO,MARK A 2.00 2.75 12.50 2.750 2.500 2.345 $275,000.00 N
600072073 PARANINFO,NOEL B 2.00 2.75 12.50 2.750 2.500 2.345 $340,000.00 N
600072074 FIASCO,ANTHONY F 2.00 2.75 12.50 2.750 2.500 2.345 $250,000.00 N
600072075 CORSCADDEN,JAMES B 2.00 2.75 12.50 2.750 2.500 2.345 $285,000.00 N
600072076 MINER,THOMAS S 2.00 2.75 12.50 2.750 2.500 2.345 $595,000.00 N
600072077 SHANK,PAUL W 2.00 2.75 12.50 2.750 2.500 2.345 $312,000.00 N
600072078 PHILLIPS,BRAD 2.00 2.75 12.50 2.750 2.500 2.345 $285,000.00 N
600072079 KURKOWSKI,DAVID C 2.00 2.75 12.50 2.750 2.500 2.345 $285,000.00 N
600072080 LELANNIC,DIDIER J 2.00 2.75 12.50 2.750 2.500 2.345 $400,000.00 N
600072081 BRENNAN,SUSAN S 2.00 2.75 12.50 2.750 2.500 2.345 $263,750.00 N
600072082 FRIDAY,CHARLES D 2.00 2.75 12.50 2.750 2.500 2.345 $520,000.00 N
600072083 TEUFEL,ZOE 2.00 2.75 12.50 2.750 2.500 2.345 $380,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 42
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072084 DELLOPOULOS,GEORGE S 8170 W SILVERHEELS PLA LARKSBUR CO 80118 $248,287.78
600072085 BRINLEY,ROBERT D 223 GULL STREET MANHATTAN CA 90266 $271,726.19
600072086 MITRA,ATIN K 104 MADELINE DRIVE EDINBORO PA 16412 $103,287.76
600072087 CATALFUMO,FRANK J 93 DRIFTWOOD DRIVE BRICK NJ 8723 $556,601.55
600072089 DELL,GEORGE J 170 E STREET SHARON CT 6069 $286,027.55
600072090 MACIAS,PAUL R 10309 N PIERPONT CIRCLE FRESNO CA 93720 $227,545.82
600072091 PANYUTICH,ALEXANDER V 2701 MANNING AVENUE LOS ANGELE CA 90064 $254,541.92
600072092 CONWAY,RALPH W 12930 REGAN LANE SARATOGA CA 95010 $421,492.52
600072093 SILVESTRO,SANTO 17 MICHIGAN AVE NEW CANNAA CT 6840 $276,312.87
600072094 REED,JAMES R 1970 PORT EDWARD PLA NEWPORT BE CA 92660 $547,786.24
600072095 SANTOURIAN,BRUCE D 3427 CORTE SONRISA CARLSBAD CA 92009 $320,283.30
600072096 WHEAT,DAVID J 7608 SPRING AVENUE MELROSE PA PA 19027 $216,279.46
600072097 LOSONCI,THOMAS 85 FRELMA DRIVE TRUMBULL CT 6611 $237,798.07
600072098 MARTIN,CHARLES B 6511 MOUNT BATTON CO PROSPECT KY 40059 $272,900.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072084 DELLOPOULOS,GEORGE S 7.500 .250 7.250 .1550 7.095 12/01/2026
600072085 BRINLEY,ROBERT D 7.500 .250 7.250 .1550 7.095 12/01/2026
600072086 MITRA,ATIN K 7.500 .250 7.250 .1550 7.095 12/01/2026
600072087 CATALFUMO,FRANK J 7.500 .250 7.250 .1550 7.095 01/01/2027
600072089 DELL,GEORGE J 7.500 .250 7.250 .1550 7.095 12/01/2026
600072090 MACIAS,PAUL R 7.500 .250 7.250 .1550 7.095 12/01/2026
600072091 PANYUTICH,ALEXANDER V 7.500 .250 7.250 .1550 7.095 11/01/2026
600072092 CONWAY,RALPH W 7.500 .250 7.250 .1550 7.095 11/01/2026
600072093 SILVESTRO,SANTO 7.500 .250 7.250 .1550 7.095 01/01/2027
600072094 REED,JAMES R 7.500 .250 7.250 .1550 7.095 11/01/2026
600072095 SANTOURIAN,BRUCE D 7.500 .250 7.250 .1550 7.095 12/01/2026
600072096 WHEAT,DAVID J 7.500 .250 7.250 .1550 7.095 01/01/2027
600072097 LOSONCI,THOMAS 7.500 .250 7.250 .1550 7.095 01/01/2027
600072098 MARTIN,CHARLES B 7.500 .250 7.250 .1550 7.095 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072084 DELLOPOULOS,GEORGE S 92410805 $1,748.04 09/01/1997 360
600072085 BRINLEY,ROBERT D 92410594 $1,913.05 09/01/1997 360
600072086 MITRA,ATIN K 92410493 $727.18 09/01/1997 360
600072087 CATALFUMO,FRANK J 92410051 $3,915.60 09/01/1997 360
600072089 DELL,GEORGE J 92409749 $2,013.74 09/01/1997 360
600072090 MACIAS,PAUL R 92409608 $1,602.01 1 09/01/1997 360
600072091 PANYUTICH,ALEXANDER V 92409598 $1,793.49 19 09/01/1997 360
600072092 CONWAY,RALPH W 92409575 $2,971.67 09/01/1997 360
600072093 SILVESTRO,SANTO 92409482 $1,943.82 09/01/1997 360
600072094 REED,JAMES R 92409357 $3,859.66 09/01/1997 360
600072095 SANTOURIAN,BRUCE D 92409299 $2,257.07 1 09/01/1997 360
600072096 WHEAT,DAVID J 92409254 $1,521.49 09/01/1997 360
600072097 LOSONCI,THOMAS 92409170 $1,672.87 09/01/1997 360
600072098 MARTIN,CHARLES B 92408921 $1,922.84 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072084 DELLOPOULOS,GEORGE S 2.00 2.75 12.50 2.750 2.500 2.345 $350,000.00 N
600072085 BRINLEY,ROBERT D 2.00 2.75 12.50 2.750 2.500 2.345 $342,000.00 N
600072086 MITRA,ATIN K 2.00 2.75 12.50 2.750 2.500 2.345 $130,000.00 N
600072087 CATALFUMO,FRANK J 2.00 2.75 12.50 2.750 2.500 2.345 $750,000.00 N
600072089 DELL,GEORGE J 2.00 2.75 12.50 2.750 2.500 2.345 $360,000.00 N
600072090 MACIAS,PAUL R 2.00 2.75 12.50 2.750 2.500 2.345 $254,573.00 N
600072091 PANYUTICH,ALEXANDER V 2.00 2.75 12.50 2.750 2.500 2.345 $285,000.00 N
600072092 CONWAY,RALPH W 2.00 2.75 12.50 2.750 2.500 2.345 $655,000.00 N
600072093 SILVESTRO,SANTO 2.00 2.75 12.50 2.750 2.500 2.345 $670,000.00 N
600072094 REED,JAMES R 2.00 2.75 12.50 2.750 2.500 2.345 $690,000.00 N
600072095 SANTOURIAN,BRUCE D 2.00 2.75 12.50 2.750 2.500 2.345 $358,716.00 N
600072096 WHEAT,DAVID J 2.00 2.75 12.50 2.750 2.500 2.345 $272,000.00 N
600072097 LOSONCI,THOMAS 2.00 2.75 12.50 2.750 2.500 2.345 $319,000.00 N
600072098 MARTIN,CHARLES B 2.00 2.75 12.50 2.750 2.500 2.345 $415,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 43
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072099 RABE,DANIEL R 4319 ESQUIRE CIRCLE NAPERVILLE IL 60564 $319,798.19
600072100 RIZZO,JOHN E 1426 SHORELINE WAY LOVELAND OH 45140 $118,386.44
600072101 MCENDARFFER,DAVID L 6211 W 132ND TERRACE OVERLAND P KS 66209 $284,264.30
600072102 CILIO,KIMBERLY H 3216 SKIPPACK PIKE WORCESTER PA 19490 $175,611.42
600072103 CLAUDER,ARTHUR R 610 KLOTTER AVENUE CINCINNATI OH 45214 $79,389.33
600072104 GOODWIN JR,EVERETT N 11828 S OCTOBER COVE SANDY UT 84092 $446,564.78
600072105 MOGELNICKI,JAMES J 127 GOLD KING WAY BRECKENRID CO 80424 $297,709.94
600072106 ROY,DENNIS R 1055 CATAWBA VALLEY CINCINNATI OH 45226 $303,904.25
600072107 ARIMA,HIROYUKI 638 HARVESTER DRIVE FOSTER CIT CA 94404 $289,693.53
600072108 SMITH,MARK D 547 BROOK AVENUE RIVER VALE NJ 7675 $276,523.25
600072109 BORDERS,ROBERT A 1252 BASSETT AVENUE LOUISVILLE KY 40204 $186,859.13
600072110 PHILLIPS,BROOK J 276 S PERSHING WICHITA KS 67218 $228,145.08
600072111 SEGESTA,THOMAS 24 TRESTLES LAGUNA NIG CA 92677 $240,948.61
600072112 MICHAELIDES,STEVEN P 6299 SKYLINE BOULEVA OAKLAND CA 94611 $258,015.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072099 RABE,DANIEL R 7.500 .250 7.250 .1550 7.095 02/01/2027
600072100 RIZZO,JOHN E 7.500 .250 7.250 .1550 7.095 12/01/2026
600072101 MCENDARFFER,DAVID L 7.500 .250 7.250 .1550 7.095 01/01/2027
600072102 CILIO,KIMBERLY H 7.500 .250 7.250 .1550 7.095 12/01/2026
600072103 CLAUDER,ARTHUR R 7.500 .250 7.250 .1550 7.095 11/01/2026
600072104 GOODWIN JR,EVERETT N 7.500 .250 7.250 .1550 7.095 11/01/2026
600072105 MOGELNICKI,JAMES J 7.500 .250 7.250 .1550 7.095 11/01/2026
600072106 ROY,DENNIS R 7.500 .250 7.250 .1550 7.095 12/01/2026
600072107 ARIMA,HIROYUKI 7.500 .250 7.250 .1550 7.095 11/01/2026
600072108 SMITH,MARK D 7.500 .250 7.250 .1550 7.095 11/01/2026
600072109 BORDERS,ROBERT A 7.500 .250 7.250 .1550 7.095 01/01/2027
600072110 PHILLIPS,BROOK J 7.500 .250 7.250 .1550 7.095 11/01/2026
600072111 SEGESTA,THOMAS 7.500 .250 7.250 .1550 7.095 10/01/2026
600072112 MICHAELIDES,STEVEN P 7.500 .250 7.250 .1550 7.095 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072099 RABE,DANIEL R 92408388 $2,247.97 09/01/1997 360
600072100 RIZZO,JOHN E 92408241 $839.06 09/01/1997 360
600072101 MCENDARFFER,DAVID L 92407547 $1,999.76 09/01/1997 360
600072102 CILIO,KIMBERLY H 92407487 $1,468.35 09/01/1997 360
600072103 CLAUDER,ARTHUR R 92407374 $559.37 09/01/1997 360
600072104 GOODWIN JR,EVERETT N 92407344 $3,146.47 09/01/1997 360
600072105 MOGELNICKI,JAMES J 92406971 $2,097.64 09/01/1997 360
600072106 ROY,DENNIS R 92406868 $2,139.60 09/01/1997 360
600072107 ARIMA,HIROYUKI 92406747 $2,048.70 09/01/1997 360
600072108 SMITH,MARK D 92406651 $2,027.72 09/01/1997 360
600072109 BORDERS,ROBERT A 92406638 $1,314.52 09/01/1997 360
600072110 PHILLIPS,BROOK J 92406574 $1,607.49 3 09/01/1997 360
600072111 SEGESTA,THOMAS 92406447 $1,699.10 09/01/1997 360
600072112 MICHAELIDES,STEVEN P 92406432 $1,817.96 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072099 RABE,DANIEL R 2.00 2.75 12.50 2.750 2.500 2.345 $401,900.00 N
600072100 RIZZO,JOHN E 2.00 2.75 12.50 2.750 2.500 2.345 $296,000.00 N
600072101 MCENDARFFER,DAVID L 2.00 2.75 12.50 2.750 2.500 2.345 $357,500.00 N
600072102 CILIO,KIMBERLY H 2.00 2.75 12.50 2.750 2.500 2.345 $650,000.00 N
600072103 CLAUDER,ARTHUR R 2.00 2.75 12.50 2.750 2.500 2.345 $100,000.00 N
600072104 GOODWIN JR,EVERETT N 2.00 2.75 12.50 2.750 2.500 2.345 $600,000.00 N
600072105 MOGELNICKI,JAMES J 2.00 2.75 12.50 2.750 2.500 2.345 $379,000.00 N
600072106 ROY,DENNIS R 2.00 2.75 12.50 2.750 2.500 2.345 $382,500.00 N
600072107 ARIMA,HIROYUKI 2.00 2.75 12.50 2.750 2.500 2.345 $425,000.00 N
600072108 SMITH,MARK D 2.00 2.75 12.50 2.750 2.500 2.345 $550,000.00 N
600072109 BORDERS,ROBERT A 2.00 2.75 12.50 2.750 2.500 2.345 $235,000.00 N
600072110 PHILLIPS,BROOK J 2.00 2.75 12.50 2.750 2.500 2.345 $242,000.00 N
600072111 SEGESTA,THOMAS 2.00 2.75 12.50 2.750 2.500 2.345 $348,000.00 N
600072112 MICHAELIDES,STEVEN P 2.00 2.75 12.50 2.750 2.500 2.345 $325,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 44
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072113 COULTER,G. D 420 GRAVEL HILL RD KINNELON NJ 7405 $226,592.80
600072114 SHEEDERJR,FRANK E 16 NIAGRA PIER ERIE PA 16507 $372,137.41
600072115 CLAYTON,MICHAEL T 2610 LINDSEY COURT STILLWATER OK 74074 $207,404.54
600072116 WITTUCK,RONALD P 5727 SCHULTZ ROAD ERIE PA 16509 $249,783.34
600072117 SOKOL,SCOTT 237 WINCHESTER STRE BROOKLINE MA 2146 $224,795.73
600072118 HARRISON,TOBY G 1018 N PRESERVE CO WICHITA KS 67206 $307,633.60
600072119 MITCHELL,MICHELE F 1111 HERMANN DR. #8B HOUSTON TX 77004 $309,371.84
600072120 DICK,DOUGLAS P 632 PITCAIRN PLACE PITTSBURGH PA 15232 $571,147.97
600072121 HARRIS,ROGER 478 QUAKER ROAD CHAPPAQUA NY 10514 $364,843.50
600072122 RUSSO,ANTHONY 134 ORANGEBURGH RD OLD TAPPAN NJ 7675 $245,207.15
600072123 DARLAND,TYE G 1028 POST OAK WICHITA KS 67206 $214,551.56
600072124 FISHBURN,JOHN S 21634 N 58TH AVE. GLENDALE AZ 85308 $267,938.90
600072125 SPINNER,JOSEPH B 340 KINGS HIGHWAY W HADDONFIEL NJ 8033 $298,179.44
600072126 O'BRIEN,KEVIN R 681 CHESTNUT STREET STIRLING NJ 7980 $230,045.69
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072113 COULTER,G. D 7.500 .250 7.250 .1550 7.095 01/01/2027
600072114 SHEEDERJR,FRANK E 7.500 .250 7.250 .1550 7.095 11/01/2026
600072115 CLAYTON,MICHAEL T 7.500 .250 7.250 .1550 7.095 11/01/2026
600072116 WITTUCK,RONALD P 7.500 .250 7.250 .1550 7.095 12/01/2026
600072117 SOKOL,SCOTT 7.500 .250 7.250 .1550 7.095 11/01/2026
600072118 HARRISON,TOBY G 7.500 .250 7.250 .1550 7.095 11/01/2026
600072119 MITCHELL,MICHELE F 7.500 .250 7.250 .1550 7.095 10/01/2026
600072120 DICK,DOUGLAS P 7.500 .250 7.250 .1550 7.095 10/01/2026
600072121 HARRIS,ROGER 7.500 .250 7.250 .1550 7.095 11/01/2026
600072122 RUSSO,ANTHONY 7.500 .250 7.250 .1550 7.095 11/01/2026
600072123 DARLAND,TYE G 7.500 .250 7.250 .1550 7.095 10/01/2026
600072124 FISHBURN,JOHN S 7.500 .250 7.250 .1550 7.095 11/01/2026
600072125 SPINNER,JOSEPH B 7.500 .250 7.250 .1550 7.095 01/01/2027
600072126 O'BRIEN,KEVIN R 7.500 .250 7.250 .1550 7.095 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072113 COULTER,G. D 92405725 $1,594.21 09/01/1997 360
600072114 SHEEDERJR,FRANK E 92405717 $2,622.05 09/01/1997 360
600072115 CLAYTON,MICHAEL T 92405365 $1,461.36 09/01/1997 360
600072116 WITTUCK,RONALD P 92404919 $1,764.47 09/01/1997 360
600072117 SOKOL,SCOTT 92404667 $1,583.90 19 09/01/1997 360
600072118 HARRISON,TOBY G 92404634 $2,167.56 3 09/01/1997 360
600072119 MITCHELL,MICHELE F 92404399 $2,181.55 09/01/1997 360
600072120 DICK,DOUGLAS P 92404248 $4,027.48 09/01/1997 360
600072121 HARRIS,ROGER 92403716 $2,570.66 19 09/01/1997 360
600072122 RUSSO,ANTHONY 92403568 $1,748.04 09/01/1997 360
600072123 DARLAND,TYE G 92402855 $1,521.49 09/01/1997 360
600072124 FISHBURN,JOHN S 92402831 $1,887.88 09/01/1997 360
600072125 SPINNER,JOSEPH B 92402624 $2,097.64 09/01/1997 360
600072126 O'BRIEN,KEVIN R 92402564 $1,622.18 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072113 COULTER,G. D 2.00 2.75 12.50 2.750 2.500 2.345 $285,000.00 N
600072114 SHEEDERJR,FRANK E 2.00 2.75 12.50 2.750 2.500 2.345 $479,900.00 N
600072115 CLAYTON,MICHAEL T 2.00 2.75 12.50 2.750 2.500 2.345 $292,000.00 N
600072116 WITTUCK,RONALD P 2.00 2.75 12.50 2.750 2.500 2.345 $381,000.00 N
600072117 SOKOL,SCOTT 2.00 2.75 12.50 2.750 2.500 2.345 $266,500.00 N
600072118 HARRISON,TOBY G 2.00 2.75 12.50 2.750 2.500 2.345 $345,000.00 N
600072119 MITCHELL,MICHELE F 2.00 2.75 12.50 2.750 2.500 2.345 $390,000.00 N
600072120 DICK,DOUGLAS P 2.00 2.75 12.50 2.750 2.500 2.345 $720,000.00 N
600072121 HARRIS,ROGER 2.00 2.75 12.50 2.750 2.500 2.345 $408,500.00 N
600072122 RUSSO,ANTHONY 2.00 2.75 12.50 2.750 2.500 2.345 $450,000.00 N
600072123 DARLAND,TYE G 2.00 2.75 12.50 2.750 2.500 2.345 $272,000.00 N
600072124 FISHBURN,JOHN S 2.00 2.75 12.50 2.750 2.500 2.345 $360,000.00 N
600072125 SPINNER,JOSEPH B 2.00 2.75 12.50 2.750 2.500 2.345 $375,000.00 N
600072126 O'BRIEN,KEVIN R 2.00 2.75 12.50 2.750 2.500 2.345 $290,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 45
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072127 CHEADLE,JERRY T 3929 SABLE RIDGE DRI SUGARCREEK OH 45305 $332,178.10
600072128 RUBINOJR,FRANK J 13329 FRANKLIN ST THORNTON CO 80241 $189,832.41
600072129 REDDY,C. C 274 MAHALA STREET PORT MATIL PA 16870 $330,973.85
600072130 KNUTSON,JEFFREY L 823 GEORGEBORO CT. BRENTWOOD TN 37027 $220,603.06
600072131 WHITEHEAD,RAN L 9119 BRENTMEADE BLVD BRENTWOOD TN 37027 $348,043.38
600072132 FITZPATRICK,MARK D 611 NOD HILL ROAD TOWN OF WI CT 6897 $516,030.44
600072133 GILLESPIE,GEORGE J 6513 PLEASURE AVENUE BOROUGH OF NJ 8243 $234,168.16
600072134 GIERKINK,ROBERT W 36 HIGHLAND AVENUE LEXINGTON MA 2173 $431,707.54
600072135 SCHNEIDER,KEITH L 184 JONES LANE MARS PA 16046 $302,671.77
600072136 SMITH,JOHN J 625 ELM AVENUE CINCINNATI OH 45174 $297,472.95
600072137 NOYES,FRANK R 9400 CUNNINGHAM ROAD CINCINNATI OH 45243 $818,050.58
600072138 LAMBERT,ROBERT W 9283 JOHNSTON LANE CINCINNATI OH 45249 $404,539.98
600072140 D'ASTOLFO,LAWRENCE 82 WILLIAM ST. LITTLE FAL NJ 7424 $119,083.92
600072145 STERNLICHT,RUSSELL D 37 GREAT HILL FARM POUND RIDG NY 10506 $896,940.43
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072127 CHEADLE,JERRY T 7.500 .250 7.250 .1550 7.095 10/01/2026
600072128 RUBINOJR,FRANK J 7.500 .250 7.250 .1550 7.095 10/01/2026
600072129 REDDY,C. C 7.500 .250 7.250 .1550 7.095 10/01/2026
600072130 KNUTSON,JEFFREY L 7.500 .250 7.250 .1550 7.095 11/01/2026
600072131 WHITEHEAD,RAN L 7.500 .250 7.250 .1550 7.095 10/01/2026
600072132 FITZPATRICK,MARK D 7.500 .250 7.250 .1550 7.095 11/01/2026
600072133 GILLESPIE,GEORGE J 7.500 .250 7.250 .1550 7.095 11/01/2026
600072134 GIERKINK,ROBERT W 7.500 .250 7.250 .1550 7.095 10/01/2026
600072135 SCHNEIDER,KEITH L 7.500 .250 7.250 .1550 7.095 11/01/2026
600072136 SMITH,JOHN J 7.500 .250 7.250 .1550 7.095 10/01/2026
600072137 NOYES,FRANK R 7.500 .250 7.250 .1550 7.095 10/01/2026
600072138 LAMBERT,ROBERT W 7.500 .250 7.250 .1550 7.095 12/01/2026
600072140 D'ASTOLFO,LAWRENCE 7.500 .250 7.250 .1550 7.095 11/01/2026
600072145 STERNLICHT,RUSSELL D 7.500 .250 7.250 .1550 7.095 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072127 CHEADLE,JERRY T 92402160 $2,342.37 09/01/1997 360
600072128 RUBINOJR,FRANK J 92402039 $1,338.65 2 09/01/1997 360
600072129 REDDY,C. C 92401525 $2,342.37 09/01/1997 360
600072130 KNUTSON,JEFFREY L 92401369 $1,554.35 19 09/01/1997 360
600072131 WHITEHEAD,RAN L 92401367 $2,454.24 09/01/1997 360
600072132 FITZPATRICK,MARK D 92401232 $3,635.92 09/01/1997 360
600072133 GILLESPIE,GEORGE J 92401006 $1,650.15 09/01/1997 360
600072134 GIERKINK,ROBERT W 92400895 $3,044.21 19 09/01/1997 360
600072135 SCHNEIDER,KEITH L 92400855 $2,132.60 09/01/1997 360
600072136 SMITH,JOHN J 92400486 $2,097.64 09/01/1997 360
600072137 NOYES,FRANK R 92400089 $5,768.52 09/01/1997 360
600072138 LAMBERT,ROBERT W 92400075 $2,858.39 09/01/1997 360
600072140 D'ASTOLFO,LAWRENCE 91899245 $839.06 09/01/1997 360
600072145 STERNLICHT,RUSSELL D 91895458 $6,324.81 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072127 CHEADLE,JERRY T 2.00 2.75 12.50 2.750 2.500 2.345 $500,000.00 N
600072128 RUBINOJR,FRANK J 2.00 2.75 12.50 2.750 2.500 2.345 $201,555.00 N
600072129 REDDY,C. C 2.00 2.75 12.50 2.750 2.500 2.345 $425,000.00 N
600072130 KNUTSON,JEFFREY L 2.00 2.75 12.50 2.750 2.500 2.345 $247,000.00 N
600072131 WHITEHEAD,RAN L 2.00 2.75 12.50 2.750 2.500 2.345 $468,000.00 N
600072132 FITZPATRICK,MARK D 2.00 2.75 12.50 2.750 2.500 2.345 $650,000.00 N
600072133 GILLESPIE,GEORGE J 2.00 2.75 12.50 2.750 2.500 2.345 $450,000.00 N
600072134 GIERKINK,ROBERT W 2.00 2.75 12.50 2.750 2.500 2.345 $483,750.00 N
600072135 SCHNEIDER,KEITH L 2.00 2.75 12.50 2.750 2.500 2.345 $430,000.00 N
600072136 SMITH,JOHN J 2.00 2.75 12.50 2.750 2.500 2.345 $540,000.00 N
600072137 NOYES,FRANK R 2.00 2.75 12.50 2.750 2.500 2.345 $1,135,000.00 N
600072138 LAMBERT,ROBERT W 2.00 2.75 12.50 2.750 2.500 2.345 $511,006.80 N
600072140 D'ASTOLFO,LAWRENCE 2.00 2.75 12.50 2.750 2.500 2.345 $165,000.00 N
600072145 STERNLICHT,RUSSELL D 2.00 2.75 12.50 2.750 2.500 2.345 $1,130,700.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 46
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072158 MCNULTY,MICHAEL E 90 MT. LEBANON STR PEPPERELL MA 1463 $241,525.32
600072191 HARRELLJR,FORREST E 2 CHAMPIONS BEND HOUSTON TX 77069 $313,438.88
600072247 MANNING,ECTON R 49 PAINTER RIDGE R WASHINGTON CT 6794 $541,120.34
600072248 BIFULCO,FREDERICK 130 107TH STREET BOROUGH OF NJ 8247 $236,923.53
600072249 HAWKINS,WILLIAM J 10687 ALLIWELLS COURT OAKTON VA 22124 $632,339.05
600072250 JACKSON,LINDA J 4123 BALBOA DR LIVERPOOL NY 13090 $71,618.90
600072251 ENGLISH,KATHLEEN A 9 MILTON COURT CARY IL 60013 $273,331.03
600072252 PHILIPSON,ULRIK 271 HUNTING RIDGE R STAMFORD CT 6903 $623,698.97
600072253 MASSAGUE,JOAN 40 FERRY BRIDGE RD WASHINGTON CT 6753 $305,890.59
600072254 TOPAR,EDWARD D 442 NEW PROVIDENCE MOUNTAINSI NJ 7092 $312,842.61
600072255 FALLS,DARREL M 9 E DARTMOOR LANE SALT LAKE UT 84103 $436,641.19
600072256 MORIN,RICHARD J 1549 HUSTED AVE. SAN JOSE CA 95111 $267,426.96
600072257 HOLOP,JOSEPH P 11233 S VANDALIA TULSA OK 74137 $305,691.99
600072258 LIGORNER,MARTIN M 2500 HUDSON TERR APT FORT LEE NJ 7024 $214,222.69
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072158 MCNULTY,MICHAEL E 7.500 .250 7.250 .1550 7.095 01/01/2027
600072191 HARRELLJR,FORREST E 7.500 .250 7.250 .1550 7.095 11/01/2026
600072247 MANNING,ECTON R 7.500 .250 7.250 .1550 7.095 02/01/2027
600072248 BIFULCO,FREDERICK 7.500 .250 7.250 .1550 7.095 03/01/2027
600072249 HAWKINS,WILLIAM J 7.500 .250 7.250 .1550 7.095 01/01/2027
600072250 JACKSON,LINDA J 7.500 .250 7.250 .1550 7.095 02/01/2027
600072251 ENGLISH,KATHLEEN A 7.500 .250 7.250 .1550 7.095 01/01/2027
600072252 PHILIPSON,ULRIK 7.500 .250 7.250 .1550 7.095 12/01/2026
600072253 MASSAGUE,JOAN 7.500 .250 7.250 .1550 7.095 12/01/2026
600072254 TOPAR,EDWARD D 7.500 .250 7.250 .1550 7.095 12/01/2026
600072255 FALLS,DARREL M 7.500 .250 7.250 .1550 7.095 11/01/2026
600072256 MORIN,RICHARD J 7.500 .250 7.250 .1550 7.095 11/01/2026
600072257 HOLOP,JOSEPH P 7.500 .250 7.250 .1550 7.095 12/01/2026
600072258 LIGORNER,MARTIN M 7.500 .250 7.250 .1550 7.095 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072158 MCNULTY,MICHAEL E 91887271 $1,699.09 19 09/01/1997 360
600072191 HARRELLJR,FORREST E 91871504 $2,208.47 09/01/1997 360
600072247 MANNING,ECTON R 92416082 $3,803.73 09/01/1997 360
600072248 BIFULCO,FREDERICK 92413490 $1,664.13 09/01/1997 360
600072249 HAWKINS,WILLIAM J 92413152 $4,448.41 09/01/1997 360
600072250 JACKSON,LINDA J 92412683 $503.43 09/01/1997 360
600072251 ENGLISH,KATHLEEN A 92412651 $1,922.85 09/01/1997 360
600072252 PHILIPSON,ULRIK 92405974 $4,391.07 09/01/1997 360
600072253 MASSAGUE,JOAN 92405968 $2,153.58 09/01/1997 360
600072254 TOPAR,EDWARD D 92405927 $2,202.53 09/01/1997 360
600072255 FALLS,DARREL M 92405487 $3,076.54 09/01/1997 360
600072256 MORIN,RICHARD J 92405456 $1,884.73 19 09/01/1997 360
600072257 HOLOP,JOSEPH P 92402465 $2,152.18 2 09/01/1997 360
600072258 LIGORNER,MARTIN M 92400861 $1,508.21 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072158 MCNULTY,MICHAEL E 2.00 2.75 12.50 2.750 2.500 2.345 $270,000.00 N
600072191 HARRELLJR,FORREST E 2.00 2.75 12.50 2.750 2.500 2.345 $430,000.00 N
600072247 MANNING,ECTON R 2.00 2.75 12.50 2.750 2.500 2.345 $680,000.00 N
600072248 BIFULCO,FREDERICK 2.00 2.75 12.50 2.750 2.500 2.345 $340,000.00 N
600072249 HAWKINS,WILLIAM J 2.00 2.75 12.50 2.750 2.500 2.345 $811,000.00 N
600072250 JACKSON,LINDA J 2.00 2.75 12.50 2.750 2.500 2.345 $103,000.00 N
600072251 ENGLISH,KATHLEEN A 2.00 2.75 12.50 2.750 2.500 2.345 $406,000.00 N
600072252 PHILIPSON,ULRIK 2.00 2.75 12.50 2.750 2.500 2.345 $785,000.00 N
600072253 MASSAGUE,JOAN 2.00 2.75 12.50 2.750 2.500 2.345 $385,000.00 N
600072254 TOPAR,EDWARD D 2.00 2.75 12.50 2.750 2.500 2.345 $440,000.00 N
600072255 FALLS,DARREL M 2.00 2.75 12.50 2.750 2.500 2.345 $554,000.00 N
600072256 MORIN,RICHARD J 2.00 2.75 12.50 2.750 2.500 2.345 $299,500.00 N
600072257 HOLOP,JOSEPH P 2.00 2.75 12.50 2.750 2.500 2.345 $342,000.00 N
600072258 LIGORNER,MARTIN M 2.00 2.75 12.50 2.750 2.500 2.345 $290,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 47
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072259 SAVKOV,ALEXANDER 8 FALCON RUN KINNELON NJ 7405 $446,918.01
600072260 WAIS,LAURA 11 NORWOOD AVENUE ROSS CA 94957 $355,975.93
600072261 CRANDALL,THEODORE L 612 GRANDVIEW DRIVE GIBSONIA PA 15044 $416,462.11
600072263 CLENDENING,PATRICIA M 137 BACK CREEK DRIV MIDDLETOWN DE 19709 $321,897.96
600072273 NABERS,JAMES H 1050 VISTA POINT CIR SAN RAMON CA 94583 $321,240.40
600072274 LINDEMAN,MATTHEW R 1848 GREENWOOD AVENU SAN CARLOS CA 94070 $304,615.93
600072275 EVANGELISTA,SIMPLICIO 286-56 TH STREET BOROUGH OF NJ 8202 $312,421.67
600072276 SHEETSIII,ALDEN G 750 LINDA VISTA AVE PASADENA CA 91103 $427,723.84
600072277 GRACZYK,RONALD J 130 90TH STREET BOROUGH OF NJ 8247 $249,060.63
600072278 MAHONEY,STEPHEN M 902 VENTURA WAY MILL VALLE CA 94941 $397,665.33
600072279 KLEMP,JEFFREY C 1900 VERMONT STREET LAWRENCE KS 66046 $62,171.26
600072280 FOX,DONALD M 429-43 5 GREENWICH ST. NEW YORK NY 10013 $697,369.83
600072282 HUGINNIE,ANDREA Y 3736-3 8 20TH STREET SAN FRANCI CA 94110 $397,178.03
600072284 HALBARDIER,ROBERT F 2529 BREAUX TRACE SEABROOK TX 77586 $305,207.26
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072259 SAVKOV,ALEXANDER 7.500 .250 7.250 .1550 7.095 12/01/2026
600072260 WAIS,LAURA 7.500 .250 7.250 .1550 7.095 10/01/2026
600072261 CRANDALL,THEODORE L 7.500 .250 7.250 .1550 7.095 10/01/2026
600072263 CLENDENING,PATRICIA M 7.500 .250 7.250 .1550 7.095 12/01/2026
600072273 NABERS,JAMES H 7.500 .250 7.250 .1550 7.095 03/01/2027
600072274 LINDEMAN,MATTHEW R 7.500 .250 7.250 .1550 7.095 03/01/2027
600072275 EVANGELISTA,SIMPLICIO 7.500 .250 7.250 .1550 7.095 04/01/2027
600072276 SHEETSIII,ALDEN G 7.500 .250 7.250 .1550 7.095 02/01/2027
600072277 GRACZYK,RONALD J 7.500 .250 7.250 .1550 7.095 04/01/2027
600072278 MAHONEY,STEPHEN M 7.500 .250 7.250 .1550 7.095 02/01/2027
600072279 KLEMP,JEFFREY C 7.500 .250 7.250 .1550 7.095 12/01/2026
600072280 FOX,DONALD M 7.500 .250 7.250 .1550 7.095 04/01/2027
600072282 HUGINNIE,ANDREA Y 7.500 .250 7.250 .1550 7.095 10/01/2026
600072284 HALBARDIER,ROBERT F 7.500 .250 7.250 .1550 7.095 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072259 SAVKOV,ALEXANDER 92400847 $3,146.47 09/01/1997 360
600072260 WAIS,LAURA 92400262 $2,510.18 09/01/1997 360
600072261 CRANDALL,THEODORE L 92400137 $2,936.70 09/01/1997 360
600072263 CLENDENING,PATRICIA M 91894641 $2,272.31 19 09/01/1997 360
600072273 NABERS,JAMES H 92425266 $2,256.37 2 09/01/1997 360
600072274 LINDEMAN,MATTHEW R 92424243 $2,139.60 09/01/1997 360
600072275 EVANGELISTA,SIMPLICIO 92419666 $2,192.74 09/01/1997 360
600072276 SHEETSIII,ALDEN G 92418287 $3,006.62 09/01/1997 360
600072277 GRACZYK,RONALD J 92418212 $1,748.04 09/01/1997 360
600072278 MAHONEY,STEPHEN M 92417341 $2,796.86 09/01/1997 360
600072279 KLEMP,JEFFREY C 92411534 $437.71 2 09/01/1997 360
600072280 FOX,DONALD M 92411103 $4,894.50 09/01/1997 360
600072282 HUGINNIE,ANDREA Y 92401214 $2,822.03 09/01/1997 360
600072284 HALBARDIER,ROBERT F 92400953 $2,152.18 2 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072259 SAVKOV,ALEXANDER 2.00 2.75 12.50 2.750 2.500 2.345 $575,000.00 N
600072260 WAIS,LAURA 2.00 2.75 12.50 2.750 2.500 2.345 $810,000.00 N
600072261 CRANDALL,THEODORE L 2.00 2.75 12.50 2.750 2.500 2.345 $1,000,000.00 N
600072263 CLENDENING,PATRICIA M 2.00 2.75 12.50 2.750 2.500 2.345 $342,045.00 N
600072273 NABERS,JAMES H 2.00 2.75 12.50 2.750 2.500 2.345 $358,611.00 N
600072274 LINDEMAN,MATTHEW R 2.00 2.75 12.50 2.750 2.500 2.345 $395,000.00 N
600072275 EVANGELISTA,SIMPLICIO 2.00 2.75 12.50 2.750 2.500 2.345 $392,000.00 N
600072276 SHEETSIII,ALDEN G 2.00 2.75 12.50 2.750 2.500 2.345 $580,000.00 N
600072277 GRACZYK,RONALD J 2.00 2.75 12.50 2.750 2.500 2.345 $536,800.00 N
600072278 MAHONEY,STEPHEN M 2.00 2.75 12.50 2.750 2.500 2.345 $595,000.00 N
600072279 KLEMP,JEFFREY C 2.00 2.75 12.50 2.750 2.500 2.345 $65,900.00 N
600072280 FOX,DONALD M 2.00 2.75 12.50 2.750 2.500 2.345 $875,000.00 N
600072282 HUGINNIE,ANDREA Y 2.00 2.75 12.50 2.750 2.500 2.345 $504,500.00 N
600072284 HALBARDIER,ROBERT F 2.00 2.75 12.50 2.750 2.500 2.345 $342,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 48
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072285 BRAYIII,HORACE A 3 BIRDIE COURT GRASONVILL MD 21638 $247,894.07
600072286 SLAUGHTER,MARK A 1106 NAVAHO DR. BRENTWOOD TN 37027 $267,725.64
600072288 KAPLAN,BARRY R 4135 N 49TH WAY PHOENIX AZ 85018 $389,988.82
600072289 WINN,STEPHEN G 12237 MARINE VIEW DR SEATTLE WA 98146 $269,316.76
600072290 SPIERS,KENNETH L 1907 E 7325 SOUTH SALT LAKE UT 84121 $276,989.87
600072291 MARTIN,ROBERT D 3045 MONTE ROSA AVEN LAS VEGAS NV 89120 $639,960.76
600072292 DELUMMENMARCKE,PHILIPPE 4141 SWARTHMORE STRE HOUSTON TX 77005 $327,480.83
600072293 FURMANIII,ALBERT V 74602 PALO VERDE DR INDIAN WEL CA 92210 $795,765.22
600072294 BOSWELL,ROBERT S 320 HIGH STREET DENVER CO 80218 $850,805.17
600072295 ASCANI,IVO 3365 MELENDY DRIVE SAN CARLOS CA 94070 $298,179.22
600072296 NELSONIII,ARTHUR W 28064 HERON COURT CARMEL CA 93923 $255,142.20
600072297 NAVASSACASA,JUAN R 2 HATHAWAY ROAD MARBLEHEAD MA 1945 $286,972.81
600072298 CHILDREY,RUSSELL D 10 CARRIAGE COURT LOS ALTOS CA 94022 $323,021.41
600072299 POWELL,KATHY O 306 MONTICELLO ROAD FRANKLIN TN 37064 $222,115.61
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072285 BRAYIII,HORACE A 7.500 .250 7.250 .1550 7.095 10/01/2026
600072286 SLAUGHTER,MARK A 7.500 .250 7.250 .1550 7.095 10/01/2026
600072288 KAPLAN,BARRY R 7.500 .250 7.250 .1550 7.095 03/01/2027
600072289 WINN,STEPHEN G 7.500 .250 7.250 .1550 7.095 02/01/2027
600072290 SPIERS,KENNETH L 7.500 .250 7.250 .1550 7.095 12/01/2026
600072291 MARTIN,ROBERT D 7.500 .250 7.250 .1550 7.095 02/01/2027
600072292 DELUMMENMARCKE,PHILIPPE 7.500 .250 7.250 .1550 7.095 11/01/2026
600072293 FURMANIII,ALBERT V 7.500 .250 7.250 .1550 7.095 02/01/2027
600072294 BOSWELL,ROBERT S 7.500 .250 7.250 .1550 7.095 01/01/2027
600072295 ASCANI,IVO 7.500 .250 7.250 .1550 7.095 01/01/2027
600072296 NELSONIII,ARTHUR W 7.500 .250 7.250 .1550 7.095 02/01/2027
600072297 NAVASSACASA,JUAN R 7.500 .250 7.250 .1550 7.095 02/01/2027
600072298 CHILDREY,RUSSELL D 7.500 .250 7.250 .1550 7.095 01/01/2027
600072299 POWELL,KATHY O 7.500 .250 7.250 .1550 7.095 02/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072285 BRAYIII,HORACE A 92400801 $1,748.04 09/01/1997 360
600072286 SLAUGHTER,MARK A 92400304 $1,887.88 09/01/1997 360
600072288 KAPLAN,BARRY R 92423895 $2,740.58 09/01/1997 360
600072289 WINN,STEPHEN G 92418937 $1,893.13 1 09/01/1997 360
600072290 SPIERS,KENNETH L 92418936 $1,950.11 2 09/01/1997 360
600072291 MARTIN,ROBERT D 92417896 $4,544.89 09/01/1997 360
600072292 DELUMMENMARCKE,PHILIPPE 92416881 $2,307.41 09/01/1997 360
600072293 FURMANIII,ALBERT V 92416481 $5,593.72 09/01/1997 360
600072294 BOSWELL,ROBERT S 92416041 $5,985.28 09/01/1997 360
600072295 ASCANI,IVO 92415858 $2,097.64 09/01/1997 360
600072296 NELSONIII,ARTHUR W 92415703 $1,793.49 09/01/1997 360
600072297 NAVASSACASA,JUAN R 92415217 $2,017.24 09/01/1997 360
600072298 CHILDREY,RUSSELL D 92414577 $2,272.45 09/01/1997 360
600072299 POWELL,KATHY O 92414480 $1,562.74 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072285 BRAYIII,HORACE A 2.00 2.75 12.50 2.750 2.500 2.345 $328,000.00 N
600072286 SLAUGHTER,MARK A 2.00 2.75 12.50 2.750 2.500 2.345 $360,000.00 N
600072288 KAPLAN,BARRY R 2.00 2.75 12.50 2.750 2.500 2.345 $522,607.00 N
600072289 WINN,STEPHEN G 2.00 2.75 12.50 2.750 2.500 2.345 $285,000.00 N
600072290 SPIERS,KENNETH L 2.00 2.75 12.50 2.750 2.500 2.345 $310,000.00 N
600072291 MARTIN,ROBERT D 2.00 2.75 12.50 2.750 2.500 2.345 $1,200,000.00 N
600072292 DELUMMENMARCKE,PHILIPPE 2.00 2.75 12.50 2.750 2.500 2.345 $439,900.00 N
600072293 FURMANIII,ALBERT V 2.00 2.75 12.50 2.750 2.500 2.345 $1,125,000.00 N
600072294 BOSWELL,ROBERT S 2.00 2.75 12.50 2.750 2.500 2.345 $1,400,000.00 N
600072295 ASCANI,IVO 2.00 2.75 12.50 2.750 2.500 2.345 $520,000.00 N
600072296 NELSONIII,ARTHUR W 2.00 2.75 12.50 2.750 2.500 2.345 $455,000.00 N
600072297 NAVASSACASA,JUAN R 2.00 2.75 12.50 2.750 2.500 2.345 $488,500.00 N
600072298 CHILDREY,RUSSELL D 2.00 2.75 12.50 2.750 2.500 2.345 $648,000.00 N
600072299 POWELL,KATHY O 2.00 2.75 12.50 2.750 2.500 2.345 $299,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 49
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072300 SMITH,DALE C 1340 CANADAVILLE LOO EADS TN 38028 $230,262.06
600072301 KREEGER,JOSEPH P 13000 ATLANTIC AVE ROCKVILLE MD 20852 $119,922.94
600072302 O'HARA,WILLIAM E 1602 STONE MANSION D SEWICKLEY PA 15143 $158,631.41
600072303 BROWN,CINDY L 6805 SOUTHEAST 68TH HILLSBORO OR 97123 $121,164.46
600072304 RODGERS,ERNEST N 3561 SIPLER LANE HUNTINGDON PA 19006 $197,388.81
600072305 DUNCAN,MARK 1059 CARRIAGE HILL P ANNAPOLIS MD 21401 $289,423.24
600072306 SCHOCK,REGINA A 12720 WOODBRIDGE STRE LOS ANGELE CA 91604 $243,322.10
600072307 CORTEZ,ALONZO L 1703 CRYSTAL VIEW CI THOUSAND O CA 91320 $273,017.30
600072309 LEVENFELD,WAYNE A 14130 SOBEY MEADOWS C SARATOGA CA 95070 $496,575.67
600072310 HOWARD,WILLIAM T 250 LINE ROAD MALVERN PA 19355 $238,356.36
600072311 SOBON,JOHN L 467 VALLEY STREET MAPLEWOOD NJ 7040 $45,602.66
600072312 PIROZZOLIJR.,MARIO M 85 RIVERGATE LANE BERLIN CT 6023 $205,780.96
600072313 DANIEL,RAYMOND J 1203 WILLOW BROOK CO SUGAR LAND TX 77479 $205,582.34
600072314 HORWITZ,ADAM F 5304 SWITCHGRASS NAPERVILLE IL 60563 $241,406.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072300 SMITH,DALE C 7.500 .250 7.250 .1550 7.095 01/01/2027
600072301 KREEGER,JOSEPH P 7.500 .250 7.250 .1550 7.095 12/01/2026
600072302 O'HARA,WILLIAM E 7.500 .250 7.250 .1550 7.095 01/01/2027
600072303 BROWN,CINDY L 7.500 .250 7.250 .1550 7.095 12/01/2026
600072304 RODGERS,ERNEST N 7.500 .250 7.250 .1550 7.095 12/01/2026
600072305 DUNCAN,MARK 7.500 .250 7.250 .1550 7.095 01/01/2027
600072306 SCHOCK,REGINA A 7.500 .250 7.250 .1550 7.095 12/01/2026
600072307 CORTEZ,ALONZO L 7.500 .250 7.250 .1550 7.095 12/01/2026
600072309 LEVENFELD,WAYNE A 7.500 .250 7.250 .1550 7.095 12/01/2026
600072310 HOWARD,WILLIAM T 7.500 .250 7.250 .1550 7.095 12/01/2026
600072311 SOBON,JOHN L 7.500 .250 7.250 .1550 7.095 01/01/2027
600072312 PIROZZOLIJR.,MARIO M 7.500 .250 7.250 .1550 7.095 12/01/2026
600072313 DANIEL,RAYMOND J 7.500 .250 7.250 .1550 7.095 12/01/2026
600072314 HORWITZ,ADAM F 7.500 .250 7.250 .1550 7.095 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072300 SMITH,DALE C 92414378 $1,620.43 09/01/1997 360
600072301 KREEGER,JOSEPH P 92413825 $844.31 09/01/1997 360
600072302 O'HARA,WILLIAM E 92412938 $1,115.95 09/01/1997 360
600072303 BROWN,CINDY L 92411479 $853.04 09/01/1997 360
600072304 RODGERS,ERNEST N 92409960 $1,389.69 09/01/1997 360
600072305 DUNCAN,MARK 92409799 $2,045.91 7 09/01/1997 360
600072306 SCHOCK,REGINA A 92408201 $1,713.07 09/01/1997 360
600072307 CORTEZ,ALONZO L 92407781 $1,922.14 09/01/1997 360
600072309 LEVENFELD,WAYNE A 92407653 $3,496.07 09/01/1997 360
600072310 HOWARD,WILLIAM T 92407526 $1,678.11 09/01/1997 360
600072311 SOBON,JOHN L 92407499 $325.13 09/01/1997 360
600072312 PIROZZOLIJR.,MARIO M 92407280 $1,448.77 09/01/1997 360
600072313 DANIEL,RAYMOND J 92407124 $1,447.37 2 09/01/1997 360
600072314 HORWITZ,ADAM F 92407077 $1,706.08 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072300 SMITH,DALE C 2.00 2.75 12.50 2.750 2.500 2.345 $309,000.00 N
600072301 KREEGER,JOSEPH P 2.00 2.75 12.50 2.750 2.500 2.345 $161,000.00 N
600072302 O'HARA,WILLIAM E 2.00 2.75 12.50 2.750 2.500 2.345 $199,500.00 N
600072303 BROWN,CINDY L 2.00 2.75 12.50 2.750 2.500 2.345 $172,500.00 N
600072304 RODGERS,ERNEST N 2.00 2.75 12.50 2.750 2.500 2.345 $270,000.00 N
600072305 DUNCAN,MARK 2.00 2.75 12.50 2.750 2.500 2.345 $308,000.00 N
600072306 SCHOCK,REGINA A 2.00 2.75 12.50 2.750 2.500 2.345 $327,000.00 N
600072307 CORTEZ,ALONZO L 2.00 2.75 12.50 2.750 2.500 2.345 $399,900.00 N
600072309 LEVENFELD,WAYNE A 2.00 2.75 12.50 2.750 2.500 2.345 $815,000.00 N
600072310 HOWARD,WILLIAM T 2.00 2.75 12.50 2.750 2.500 2.345 $400,000.00 N
600072311 SOBON,JOHN L 2.00 2.75 12.50 2.750 2.500 2.345 $62,000.00 N
600072312 PIROZZOLIJR.,MARIO M 2.00 2.75 12.50 2.750 2.500 2.345 $259,000.00 N
600072313 DANIEL,RAYMOND J 2.00 2.75 12.50 2.750 2.500 2.345 $230,000.00 N
600072314 HORWITZ,ADAM F 2.00 2.75 12.50 2.750 2.500 2.345 $305,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 50
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072315 ALEA,JOSE M 8 STOCKWELL LANE SOUTHBOROU MA 1772 $285,801.48
600072316 MCKENZIE,GERARD E 74 DOWNFIELD WAY COTO DE CA CA 92679 $350,255.66
600072317 SMITH,DAVID W 934 PARK AVENUE WYCOMBE PA 18980 $294,965.89
600072318 MCELANEY,RICHARD H 15238 SURREY HOUSE WA CENTREVILL VA 20120 $213,060.98
600072319 NUGENT,MICHAEL J 15549 KAVIN LANE MONTE SERE CA 95030 $396,946.51
600072320 BROWN,KENNETH J 5654 171ST AVE. SOUT BELLEVUE WA 98006 $496,575.67
600072321 WHELAN,DAVID J 3130 5TH STREET NORT ARLINGTON VA 22201 $273,791.00
600072322 HEMBD,SETH L 9743 S GOLDEN EAGLE AV HIGHLANDS CO 80126 $214,180.53
600072323 MALICK,STEPHEN R 6116 MILLWOOD DRIVE ARLINGTON TX 76016 $258,969.10
600072324 HEAD,JANICE L 150 RICE LANE LARKSPUR CA 94939 $337,135.99
600072325 CRAWFORD,LYNDA M 12011 QUARUM PLACE BOWIE MD 20720 $233,241.51
600072326 SOBRAN,ERIC C 19 HOWE STREET HINGHAM MA 2043 $229,159.71
600072327 MCLENNAN,ALAN 1760 SOMERSET LANE MUNDELEIN IL 60060 $239,002.83
600072334 NARWOLD,KAREN G 86 LITTLE FOX LANE SOUTHBURY CT 6488 $371,841.22
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072315 ALEA,JOSE M 7.500 .250 7.250 .1550 7.095 11/01/2026
600072316 MCKENZIE,GERARD E 7.500 .250 7.250 .1550 7.095 11/01/2026
600072317 SMITH,DAVID W 7.500 .250 7.250 .1550 7.095 12/01/2026
600072318 MCELANEY,RICHARD H 7.500 .250 7.250 .1550 7.095 11/01/2026
600072319 NUGENT,MICHAEL J 7.500 .250 7.250 .1550 7.095 11/01/2026
600072320 BROWN,KENNETH J 7.500 .250 7.250 .1550 7.095 12/01/2026
600072321 WHELAN,DAVID J 7.500 .250 7.250 .1550 7.095 11/01/2026
600072322 HEMBD,SETH L 7.500 .250 7.250 .1550 7.095 10/01/2026
600072323 MALICK,STEPHEN R 7.500 .250 7.250 .1550 7.095 11/01/2026
600072324 HEAD,JANICE L 7.500 .250 7.250 .1550 7.095 10/01/2026
600072325 CRAWFORD,LYNDA M 7.500 .250 7.250 .1550 7.095 12/01/2026
600072326 SOBRAN,ERIC C 7.500 .250 7.250 .1550 7.095 10/01/2026
600072327 MCLENNAN,ALAN 7.500 .250 7.250 .1550 7.095 01/01/2027
600072334 NARWOLD,KAREN G 7.500 .250 7.250 .1550 7.095 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072315 ALEA,JOSE M 92406969 $2,013.74 09/01/1997 360
600072316 MCKENZIE,GERARD E 92406851 $2,467.88 2 09/01/1997 360
600072317 SMITH,DAVID W 92406758 $2,076.67 3 09/01/1997 360
600072318 MCELANEY,RICHARD H 92406393 $1,501.22 19 09/01/1997 360
600072319 NUGENT,MICHAEL J 92406259 $2,796.86 09/01/1997 360
600072320 BROWN,KENNETH J 92405656 $3,496.07 09/01/1997 360
600072321 WHELAN,DAVID J 92404896 $1,929.84 09/01/1997 360
600072322 HEMBD,SETH L 92402933 $1,510.30 1 09/01/1997 360
600072323 MALICK,STEPHEN R 92402391 $1,835.44 09/01/1997 360
600072324 HEAD,JANICE L 92402288 $2,377.33 09/01/1997 360
600072325 CRAWFORD,LYNDA M 91899880 $1,642.11 1 09/01/1997 360
600072326 SOBRAN,ERIC C 91899457 $1,720.07 2 09/01/1997 360
600072327 MCLENNAN,ALAN 91896362 $1,690.00 2 09/01/1997 360
600072334 NARWOLD,KAREN G 91884567 $2,622.05 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072315 ALEA,JOSE M 2.00 2.75 12.50 2.750 2.500 2.345 $360,900.00 N
600072316 MCKENZIE,GERARD E 2.00 2.75 12.50 2.750 2.500 2.345 $392,607.00 N
600072317 SMITH,DAVID W 2.00 2.75 12.50 2.750 2.500 2.345 $330,000.00 N
600072318 MCELANEY,RICHARD H 2.00 2.75 12.50 2.750 2.500 2.345 $226,000.00 N
600072319 NUGENT,MICHAEL J 2.00 2.75 12.50 2.750 2.500 2.345 $595,000.00 N
600072320 BROWN,KENNETH J 2.00 2.75 12.50 2.750 2.500 2.345 $764,832.69 N
600072321 WHELAN,DAVID J 2.00 2.75 12.50 2.750 2.500 2.345 $345,000.00 N
600072322 HEMBD,SETH L 2.00 2.75 12.50 2.750 2.500 2.345 $229,554.00 N
600072323 MALICK,STEPHEN R 2.00 2.75 12.50 2.750 2.500 2.345 $362,500.00 N
600072324 HEAD,JANICE L 2.00 2.75 12.50 2.750 2.500 2.345 $425,000.00 N
600072325 CRAWFORD,LYNDA M 2.00 2.75 12.50 2.750 2.500 2.345 $247,246.00 N
600072326 SOBRAN,ERIC C 2.00 2.75 12.50 2.750 2.500 2.345 $290,000.00 N
600072327 MCLENNAN,ALAN 2.00 3.00 12.50 3.000 2.750 2.595 $284,377.00 N
600072334 NARWOLD,KAREN G 2.00 2.75 12.50 2.750 2.500 2.345 $525,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 51
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072340 KNAPPJR.,JAMES B 138-E LONG BEACH BOUL LOVELADIES NJ 8040 $548,392.44
600072341 CROUSE,HARRY L 164 CAMRY LANE SOMERSET PA 15501 $199,415.43
600072342 SMITH,CHRISTOPHER A 32 KENNARD RD BROOKLINE MA 2146 $538,421.68
600072343 MCGEEHAN,ANN M 6050 RUHL ROAD FAIRVIEW PA 16415 $232,119.59
600072344 WINCHELL,CHARLES A 29 HUNTER FARM ROA HENRYVILLE PA 18332 $223,178.99
600072345 ROSENBLUM,BRUCE 38 WALNUT PL NEWTONVILL MA 2160 $348,977.02
600072346 BULGER,LELAND K 2833 GRANDIN HOLLOW CINCINNATI OH 45208 $380,311.36
600072347 O'KEEFE,BRENDA J 4523 SMITH ROAD CINCINNATI OH 45212 $40,723.10
600072348 SCHEAR,MICHAEL G 1809 LINCOLN AVENUE CINCINNATI OH 45212 $44,801.43
600072349 DOYLE,JOSEPH T 9 OCEAN GREEN DRI KIAWAH ISL SC 29455 $382,255.77
600072350 SHEAKLEY,LARRY A 200 ASPEN LANE BEAVER CRE CO 81620 $696,911.45
600072351 GARRISON,STEPHEN N 233 SUNRIDGE ROAD PITTSBURGH PA 15238 $219,559.18
600072353 GOODRICH,PHILIP A 518 NORTHFIELD ROAD DEVON PA 19333 $124,905.73
600072354 BERNSTEIN,RICHARD P ONE CENTRAL PARK WE BOROUGH OF NY 10019 $229,807.14
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072340 KNAPPJR.,JAMES B 7.625 .250 7.375 .1550 7.220 05/01/2027
600072341 CROUSE,HARRY L 7.625 .250 7.375 .1550 7.220 05/01/2027
600072342 SMITH,CHRISTOPHER A 7.625 .250 7.375 .1550 7.220 05/01/2027
600072343 MCGEEHAN,ANN M 7.625 .250 7.375 .1550 7.220 05/01/2027
600072344 WINCHELL,CHARLES A 7.625 .250 7.375 .1550 7.220 04/01/2027
600072345 ROSENBLUM,BRUCE 7.625 .250 7.375 .1550 7.220 05/01/2027
600072346 BULGER,LELAND K 7.625 .250 7.375 .1550 7.220 04/01/2027
600072347 O'KEEFE,BRENDA J 7.625 .250 7.375 .1550 7.220 04/01/2027
600072348 SCHEAR,MICHAEL G 7.625 .250 7.375 .1550 7.220 03/01/2027
600072349 DOYLE,JOSEPH T 7.625 .250 7.375 .1550 7.220 02/01/2027
600072350 SHEAKLEY,LARRY A 7.625 .250 7.375 .1550 7.220 03/01/2027
600072351 GARRISON,STEPHEN N 7.625 .250 7.375 .1550 7.220 03/01/2027
600072353 GOODRICH,PHILIP A 7.625 .250 7.375 .1550 7.220 02/01/2027
600072354 BERNSTEIN,RICHARD P 7.625 .250 7.375 .1550 7.220 02/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072340 KNAPPJR.,JAMES B 92428541 $3,892.87 09/01/1997 360
600072341 CROUSE,HARRY L 92428051 $1,415.59 09/01/1997 360
600072342 SMITH,CHRISTOPHER A 92427437 $3,822.09 09/01/1997 360
600072343 MCGEEHAN,ANN M 92426138 $1,647.74 09/01/1997 360
600072344 WINCHELL,CHARLES A 92425801 $1,585.46 09/01/1997 360
600072345 ROSENBLUM,BRUCE 92424722 $2,477.28 09/01/1997 360
600072346 BULGER,LELAND K 92423776 $2,704.48 09/01/1997 360
600072347 O'KEEFE,BRENDA J 92423381 $290.20 09/01/1997 360
600072348 SCHEAR,MICHAEL G 92423146 $318.51 09/01/1997 360
600072349 DOYLE,JOSEPH T 92419785 $2,719.63 09/01/1997 360
600072350 SHEAKLEY,LARRY A 92419154 $4,954.56 09/01/1997 360
600072351 GARRISON,STEPHEN N 92418925 $1,564.22 09/01/1997 360
600072353 GOODRICH,PHILIP A 92418765 $955.52 09/01/1997 360
600072354 BERNSTEIN,RICHARD P 92418586 $1,635.00 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072340 KNAPPJR.,JAMES B 2.00 2.75 12.63 2.750 2.500 2.345 $1,512,500.00 N
600072341 CROUSE,HARRY L 2.00 2.75 12.63 2.750 2.500 2.345 $489,500.00 N
600072342 SMITH,CHRISTOPHER A 2.00 2.75 12.63 2.750 2.500 2.345 $765,000.00 N
600072343 MCGEEHAN,ANN M 2.00 2.75 12.63 2.750 2.500 2.345 $291,000.00 N
600072344 WINCHELL,CHARLES A 2.00 2.75 12.63 2.750 2.500 2.345 $280,000.00 N
600072345 ROSENBLUM,BRUCE 2.00 2.75 12.63 2.750 2.500 2.345 $489,000.00 N
600072346 BULGER,LELAND K 2.00 2.75 12.63 2.750 2.500 2.345 $500,000.00 N
600072347 O'KEEFE,BRENDA J 2.00 2.75 12.63 2.750 2.500 2.345 $91,000.00 N
600072348 SCHEAR,MICHAEL G 2.00 2.75 12.63 2.750 2.500 2.345 $58,000.00 N
600072349 DOYLE,JOSEPH T 2.00 2.75 12.63 2.750 2.500 2.345 $480,300.00 N
600072350 SHEAKLEY,LARRY A 2.00 2.75 12.63 2.750 2.500 2.345 $1,065,000.00 N
600072351 GARRISON,STEPHEN N 2.00 2.75 12.63 2.750 2.500 2.345 $294,000.00 N
600072353 GOODRICH,PHILIP A 2.00 2.75 12.63 2.750 2.500 2.345 $680,000.00 N
600072354 BERNSTEIN,RICHARD P 2.00 2.75 12.63 2.750 2.500 2.345 $320,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 52
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072355 HAYES,JESSE M 3566 RAYMAR DRIVE CINCINNATI OH 45208 $330,864.58
600072356 WOLFEIII,SAMUEL M 17 LAKESIDE DRIVE HARVEYS LA PA 18618 $174,230.05
600072357 MATHER,PETER M 11347 TERWILLIGERS CR CINT OH 45249 $149,225.41
600072358 BRANTLEY,JEFFREY H 8046 CHESTERSHIRE DR CINCINNATI OH 45241 $275,061.74
600072359 O'CONNORJR.,JOSEPH A 1222 ROUND HILL ROAD BRYN MAWR PA 19010 $198,815.87
600072360 TAFT,WILLIAM H RR 1 BOX 122 B YOU HARDING TO NJ 7976 $385,449.19
600072361 SPULLER,PAUL J 920 TWELVE OAKS DRI CARMEL IN 46032 $297,805.31
600072362 EDSALL,ROBERT J 2000 BRIGHTON DAM RO BROOKEVILL MD 20833 $256,472.47
600072363 SORRELS,JOHN M 133 65TH STREET UN SEA ISLE C NJ 8243 $54,632.47
600072364 WELLS,MARK D 2409 N FAIRFAX DRIVE ARLINGTON VA 22201 $263,299.53
600072366 FERGUSON,JOHN S 778 LOTUS AVE ORADELL NJ 7649 $280,076.56
600072369 POLEVOY,STUART M 2 MONTAUK TRAIL WAYNE NJ 7470 $476,986.49
600072370 ST.GERMAIN,MARK 2913 N POINSETTIA AVEN MANHATTAN CA 90266 $381,098.10
600072371 CONNOLLY,PETER P 2413 VINEYARD ROAD NOVATO CA 94947 $547,984.16
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072355 HAYES,JESSE M 7.625 .250 7.375 .1550 7.220 02/01/2027
600072356 WOLFEIII,SAMUEL M 7.625 .250 7.375 .1550 7.220 02/01/2027
600072357 MATHER,PETER M 7.625 .250 7.375 .1550 7.220 02/01/2027
600072358 BRANTLEY,JEFFREY H 7.625 .250 7.375 .1550 7.220 01/01/2027
600072359 O'CONNORJR.,JOSEPH A 7.625 .250 7.375 .1550 7.220 01/01/2027
600072360 TAFT,WILLIAM H 7.625 .250 7.375 .1550 7.220 02/01/2027
600072361 SPULLER,PAUL J 7.625 .250 7.375 .1550 7.220 11/01/2026
600072362 EDSALL,ROBERT J 7.625 .250 7.375 .1550 7.220 01/01/2027
600072363 SORRELS,JOHN M 7.625 .250 7.375 .1550 7.220 12/01/2026
600072364 WELLS,MARK D 7.625 .250 7.375 .1550 7.220 11/01/2026
600072366 FERGUSON,JOHN S 7.625 .250 7.375 .1550 7.220 10/01/2026
600072369 POLEVOY,STUART M 7.625 .250 7.375 .1550 7.220 05/01/2027
600072370 ST.GERMAIN,MARK 7.625 .250 7.375 .1550 7.220 04/01/2027
600072371 CONNOLLY,PETER P 7.625 .250 7.375 .1550 7.220 04/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072355 HAYES,JESSE M 92418413 $2,355.54 09/01/1997 360
600072356 WOLFEIII,SAMUEL M 92418075 $1,811.95 09/01/1997 360
600072357 MATHER,PETER M 92417056 $1,061.69 09/01/1997 360
600072358 BRANTLEY,JEFFREY H 92417035 $1,958.47 09/01/1997 360
600072359 O'CONNORJR.,JOSEPH A 92416158 $1,415.59 09/01/1997 360
600072360 TAFT,WILLIAM H 92415151 $2,742.35 09/01/1997 360
600072361 SPULLER,PAUL J 92414389 $2,134.71 09/01/1997 360
600072362 EDSALL,ROBERT J 92412294 $1,826.11 09/01/1997 360
600072363 SORRELS,JOHN M 92408263 $389.29 09/01/1997 360
600072364 WELLS,MARK D 92407819 $1,882.02 09/01/1997 360
600072366 FERGUSON,JOHN S 91897034 $1,998.81 09/01/1997 360
600072369 POLEVOY,STUART M 92430207 $3,411.57 09/01/1997 360
600072370 ST.GERMAIN,MARK 92426696 $2,707.31 09/01/1997 360
600072371 CONNOLLY,PETER P 92425747 $3,892.87 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072355 HAYES,JESSE M 2.00 2.75 12.63 2.750 2.500 2.345 $416,000.00 N
600072356 WOLFEIII,SAMUEL M 2.00 2.75 12.63 2.750 2.500 2.345 $360,000.00 N
600072357 MATHER,PETER M 2.00 2.75 12.63 2.750 2.500 2.345 $365,000.00 N
600072358 BRANTLEY,JEFFREY H 2.00 2.75 12.63 2.750 2.500 2.345 $345,900.00 N
600072359 O'CONNORJR.,JOSEPH A 2.00 2.75 12.63 2.750 2.500 2.345 $505,000.00 N
600072360 TAFT,WILLIAM H 2.00 2.75 12.63 2.750 2.500 2.345 $601,000.00 N
600072361 SPULLER,PAUL J 2.00 2.75 12.63 2.750 2.500 2.345 $377,000.00 N
600072362 EDSALL,ROBERT J 2.00 2.75 12.63 2.750 2.500 2.345 $325,000.00 N
600072363 SORRELS,JOHN M 2.00 2.75 12.63 2.750 2.500 2.345 $97,500.00 N
600072364 WELLS,MARK D 2.00 2.75 12.63 2.750 2.500 2.345 $345,900.00 N
600072366 FERGUSON,JOHN S 2.00 2.75 12.63 2.750 2.500 2.345 $353,000.00 N
600072369 POLEVOY,STUART M 2.00 2.75 12.63 2.750 2.500 2.345 $750,000.00 N
600072370 ST.GERMAIN,MARK 2.00 2.75 12.63 2.750 2.500 2.345 $485,000.00 N
600072371 CONNOLLY,PETER P 2.00 2.75 12.63 2.750 2.500 2.345 $880,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 53
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072372 BOYD,CHARLES C 6 N 158 SULKY ROAD WAYNE IL 60184 $298,900.46
600072373 BALL,BENJAMIN H 1873 EDGEWOOD DRIVE PALO ALTO CA 94303 $291,926.09
600072374 GLUCKMAN,JACK L 4770 BIGHORN RD. #3- VAIL CO 81657 $219,193.65
600072375 OLSON,RONALD G 124 KIVA DRIVE PALM DESER CA 92260 $647,132.07
600072376 TRUJILLO,ED 4005 OAKMORE ROAD OAKLAND CA 94602 $287,304.07
600072377 HADSELL,RICHARD M 4221 OAK HILL DRIVE ANNANDALE VA 22003 $273,786.61
600072378 KELLY,TERENCE M 2721 S COURT PALO ALTO CA 94306 $498,167.42
600072379 BEDOS,ALEXIS M 234 RIVERSIDE AVE RIVERSIDE CT 6878 $580,663.97
600072380 CLINE,DENNIS K 1 MEADOW PARK CIR BELMONT CA 94002 $262,225.54
600072381 SHOTTS,LAURENCE S 1015 OAKMONT COURT NAPA CA 94558 $274,988.42
600072382 ROGERS,JON M 1028 ALAMEDA DE LAS REDWOOD CI CA 94061 $277,896.00
600072383 HENRIKSEN,KRISTIE J 12 JERUSALEM LANE COHASSETT MA 2025 $302,636.74
600072384 CALVO,RICARDO A 35 JACOBS LANE TOWNSHIP O NJ 7076 $290,719.12
600072385 KAELBER,AUGUST 250 W CARMEL VALLEY CARMEL VAL CA 93924 $313,845.48
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072372 BOYD,CHARLES C 7.625 .250 7.375 .1550 7.220 04/01/2027
600072373 BALL,BENJAMIN H 7.625 .250 7.375 .1550 7.220 04/01/2027
600072374 GLUCKMAN,JACK L 7.625 .250 7.375 .1550 7.220 04/01/2027
600072375 OLSON,RONALD G 7.625 .250 7.375 .1550 7.220 03/01/2027
600072376 TRUJILLO,ED 7.625 .250 7.375 .1550 7.220 03/01/2027
600072377 HADSELL,RICHARD M 7.625 .250 7.375 .1550 7.220 03/01/2027
600072378 KELLY,TERENCE M 7.625 .250 7.375 .1550 7.220 04/01/2027
600072379 BEDOS,ALEXIS M 7.625 .250 7.375 .1550 7.220 04/01/2027
600072380 CLINE,DENNIS K 7.625 .250 7.375 .1550 7.220 03/01/2027
600072381 SHOTTS,LAURENCE S 7.625 .250 7.375 .1550 7.220 04/01/2027
600072382 ROGERS,JON M 7.625 .250 7.375 .1550 7.220 03/01/2027
600072383 HENRIKSEN,KRISTIE J 7.625 .250 7.375 .1550 7.220 04/01/2027
600072384 CALVO,RICARDO A 7.625 .250 7.375 .1550 7.220 04/01/2027
600072385 KAELBER,AUGUST 7.625 .250 7.375 .1550 7.220 04/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072372 BOYD,CHARLES C 92425659 $2,123.38 09/01/1997 360
600072373 BALL,BENJAMIN H 92424991 $2,073.84 09/01/1997 360
600072374 GLUCKMAN,JACK L 92424843 $1,557.15 09/01/1997 360
600072375 OLSON,RONALD G 92424818 $4,600.66 09/01/1997 360
600072376 TRUJILLO,ED 92423635 $2,051.19 19 09/01/1997 360
600072377 HADSELL,RICHARD M 92423291 $1,946.44 09/01/1997 360
600072378 KELLY,TERENCE M 92423045 $3,538.97 09/01/1997 360
600072379 BEDOS,ALEXIS M 92422963 $4,125.02 09/01/1997 360
600072380 CLINE,DENNIS K 92422842 $1,868.58 09/01/1997 360
600072381 SHOTTS,LAURENCE S 92422213 $1,953.51 09/01/1997 360
600072382 ROGERS,JON M 92421096 $1,976.16 09/01/1997 360
600072383 HENRIKSEN,KRISTIE J 92421020 $2,149.92 19 09/01/1997 360
600072384 CALVO,RICARDO A 92420729 $2,066.76 09/01/1997 360
600072385 KAELBER,AUGUST 92420504 $2,229.55 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072372 BOYD,CHARLES C 2.00 2.75 12.63 2.750 2.500 2.345 $375,000.00 N
600072373 BALL,BENJAMIN H 2.00 2.75 12.63 2.750 2.500 2.345 $618,000.00 N
600072374 GLUCKMAN,JACK L 2.00 2.75 12.63 2.750 2.500 2.345 $288,000.00 N
600072375 OLSON,RONALD G 2.00 2.75 12.63 2.750 2.500 2.345 $1,170,000.00 N
600072376 TRUJILLO,ED 2.00 2.75 12.63 2.750 2.500 2.345 $322,000.00 N
600072377 HADSELL,RICHARD M 2.00 2.75 12.63 2.750 2.500 2.345 $345,000.00 N
600072378 KELLY,TERENCE M 2.00 2.75 12.63 2.750 2.500 2.345 $685,000.00 N
600072379 BEDOS,ALEXIS M 2.00 2.75 12.63 2.750 2.500 2.345 $728,500.00 N
600072380 CLINE,DENNIS K 2.00 2.75 12.63 2.750 2.500 2.345 $330,000.00 N
600072381 SHOTTS,LAURENCE S 2.00 2.75 12.63 2.750 2.500 2.345 $345,000.00 N
600072382 ROGERS,JON M 2.00 2.75 12.63 2.750 2.500 2.345 $349,000.00 N
600072383 HENRIKSEN,KRISTIE J 2.00 2.75 12.63 2.750 2.500 2.345 $337,500.00 N
600072384 CALVO,RICARDO A 2.00 2.75 12.63 2.750 2.500 2.345 $365,060.60 N
600072385 KAELBER,AUGUST 2.00 2.75 12.63 2.750 2.500 2.345 $350,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 54
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072386 NICOL,DOUGLAS A 28 THE CROSSWAY KINNELON NJ 7405 $319,064.70
600072387 ACELLO,ANTHONY N 14 ARNOLD AVENUE CLOSTER NJ 07624 $496,748.52
600072388 TORKELSON,ROGER L 22 EGRET WAY MILL VALLE CA 94941 $597,800.93
600072389 WHEELER,PHILIP J 2 KEMBLE DR SHREWSBURY MA 1545 $213,752.72
600072390 FOX,STEVEN C 163 LINDEN TREE RD WILTON CT 6897 $388,279.22
600072391 STILLER,JEFFREY S 3815 WAGNER FLOYDS KNO IN 47119 $261,340.81
600072392 BENNETT,JAMES S 4 YORK STREET NANTUCKET MA 2554 $263,830.78
600072393 JONES,SAMUEL J 816 STANWICK ROAD TOWNSHIP O NJ 8057 $258,657.37
600072394 MOTT,YUPHA 8225 DARTMOOR COURT DULUTH GA 30155 $222,936.19
600072395 GOODRICH,SCOTT B 27 CHIPPEWA ROAD WESTFORD MA 1886 $223,838.07
600072396 JOHNSON,R. S 400 N MANSFIELD AVENU LOS ANGELE CA 90036 $329,040.27
600072397 QUINN,GLENN 6124 LINFORTH DRIVE LOS ANGELE CA 90068 $397,631.81
600072398 WILLIS,ISAAC J 379 LAKE DRIVE SMYRNA DE 19977 $73,617.84
600072399 BARTON,ROGER 14505 W SUNSET BLVD. LOS ANGELE CA 90272 $319,343.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072386 NICOL,DOUGLAS A 7.625 .250 7.375 .1550 7.220 05/01/2027
600072387 ACELLO,ANTHONY N 7.625 .250 7.375 .1550 7.220 03/01/2027
600072388 TORKELSON,ROGER L 7.625 .250 7.375 .1550 7.220 04/01/2027
600072389 WHEELER,PHILIP J 7.625 .250 7.375 .1550 7.220 03/01/2027
600072390 FOX,STEVEN C 7.625 .250 7.375 .1550 7.220 03/01/2027
600072391 STILLER,JEFFREY S 7.625 .250 7.375 .1550 7.220 03/01/2027
600072392 BENNETT,JAMES S 7.625 .250 7.375 .1550 7.220 03/01/2027
600072393 JONES,SAMUEL J 7.625 .250 7.375 .1550 7.220 02/01/2027
600072394 MOTT,YUPHA 7.625 .250 7.375 .1550 7.220 01/01/2027
600072395 GOODRICH,SCOTT B 7.625 .250 7.375 .1550 7.220 02/01/2027
600072396 JOHNSON,R. S 7.625 .250 7.375 .1550 7.220 01/01/2027
600072397 QUINN,GLENN 7.625 .250 7.375 .1550 7.220 01/01/2027
600072398 WILLIS,ISAAC J 7.625 .250 7.375 .1550 7.220 02/01/2027
600072399 BARTON,ROGER 7.625 .250 7.375 .1550 7.220 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072386 NICOL,DOUGLAS A 92420294 $2,264.94 09/01/1997 360
600072387 ACELLO,ANTHONY N 92420240 $3,531.54 09/01/1997 360
600072388 TORKELSON,ROGER L 92420232 $4,246.76 09/01/1997 360
600072389 WHEELER,PHILIP J 92420114 $1,519.63 09/01/1997 360
600072390 FOX,STEVEN C 92420103 $2,760.40 09/01/1997 360
600072391 STILLER,JEFFREY S 92419830 $1,857.96 09/01/1997 360
600072392 BENNETT,JAMES S 92419300 $1,875.65 09/01/1997 360
600072393 JONES,SAMUEL J 92417945 $1,840.26 09/01/1997 360
600072394 MOTT,YUPHA 92417758 $1,642.08 09/01/1997 360
600072395 GOODRICH,SCOTT B 92417389 $1,592.54 09/01/1997 360
600072396 JOHNSON,R. S 92417045 $2,342.80 09/01/1997 360
600072397 QUINN,GLENN 92417030 $2,831.17 09/01/1997 360
600072398 WILLIS,ISAAC J 92416959 $523.77 09/01/1997 360
600072399 BARTON,ROGER 92416869 $2,274.85 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072386 NICOL,DOUGLAS A 2.00 2.75 12.63 2.750 2.500 2.345 $420,000.00 N
600072387 ACELLO,ANTHONY N 2.00 2.75 12.63 2.750 2.500 2.345 $623,700.00 N
600072388 TORKELSON,ROGER L 2.00 2.75 12.63 2.750 2.500 2.345 $1,155,000.00 N
600072389 WHEELER,PHILIP J 2.00 2.75 12.63 2.750 2.500 2.345 $273,000.00 N
600072390 FOX,STEVEN C 2.00 2.75 12.63 2.750 2.500 2.345 $490,000.00 N
600072391 STILLER,JEFFREY S 2.00 2.75 12.63 2.750 2.500 2.345 $350,000.00 N
600072392 BENNETT,JAMES S 2.00 2.75 12.63 2.750 2.500 2.345 $390,000.00 N
600072393 JONES,SAMUEL J 2.00 2.75 12.63 2.750 2.500 2.345 $485,000.00 N
600072394 MOTT,YUPHA 2.00 2.75 12.63 2.750 2.500 2.345 $330,000.00 N
600072395 GOODRICH,SCOTT B 2.00 2.75 12.63 2.750 2.500 2.345 $300,000.00 N
600072396 JOHNSON,R. S 2.00 2.75 12.63 2.750 2.500 2.345 $625,000.00 N
600072397 QUINN,GLENN 2.00 2.75 12.63 2.750 2.500 2.345 $500,000.00 N
600072398 WILLIS,ISAAC J 2.00 2.75 12.63 2.750 2.500 2.345 $129,000.00 N
600072399 BARTON,ROGER 2.00 2.75 12.63 2.750 2.500 2.345 $357,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 55
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072400 DENBO,HOWARD E 3301 WASHINGTON STRE SAN FRANCI CA 94118 $549,725.91
600072401 HOUTZAGER,MARCEL P 160 SAN RAFAEL AVEN BELVEDERE CA 94920 $490,723.58
600072402 KIECKHEFERIII,WALTER F 129 GREAT CIRCLE DR MILL VALLE CA 94941 $646,151.62
600072403 KILDOW,MICHAEL T 6830 COUNTRY CLUB DR ROHNERT PA CA 94928 $177,422.68
600072404 MEYER,ROBERT R 11042 TODDTEE LANE CINCINNATI OH 45242 $238,229.75
600072405 WALLACE,PATRICK 662 CANTARA LANE VISTA CA 92083 $266,209.20
600072406 BRANCHE,ZACHARY Y 5726 RATERS DRIVE SANTA ROSA CA 95409 $241,140.40
600072408 WALAS,WALTER A 2957 BLOOMFIELD CROS BLOOMFIELD MI 48304 $377,460.82
600072410 SCHER,MARC S 7210 VIEW AVENUE EL CERRITO CA 94530 $497,039.70
600072411 STEVENSON,JEAN D 1846 GRIFFITH ROAD FALLS CHUR VA 22043 $79,526.32
600072412 STEVENSON,JEAN D 7618 LUNCEFORD LANE FALLS CHUR VA 22043 $79,526.32
600072413 STEVENSON,JEAN D 2039 ARCH DRIVE FALLS CHUR VA 22043 $79,526.32
600072414 STEVENSON,JEAN D 1841 LUSBY PLACE FALLS CHUR VA 22043 $79,526.32
600072415 WELLMAN,RONALD J 9850 KITTYWOOD DRIVE CINCINNATI OH 45252 $437,394.96
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072400 DENBO,HOWARD E 7.625 .250 7.375 .1550 7.220 01/01/2027
600072401 HOUTZAGER,MARCEL P 7.625 .250 7.375 .1550 7.220 01/01/2027
600072402 KIECKHEFERIII,WALTER F 7.625 .250 7.375 .1550 7.220 01/01/2027
600072403 KILDOW,MICHAEL T 7.625 .250 7.375 .1550 7.220 01/01/2027
600072404 MEYER,ROBERT R 7.625 .250 7.375 .1550 7.220 01/01/2027
600072405 WALLACE,PATRICK 7.625 .250 7.375 .1550 7.220 12/01/2026
600072406 BRANCHE,ZACHARY Y 7.625 .250 7.375 .1550 7.220 11/01/2026
600072408 WALAS,WALTER A 7.625 .250 7.375 .1550 7.220 12/01/2026
600072410 SCHER,MARC S 7.625 .250 7.375 .1550 7.220 01/01/2027
600072411 STEVENSON,JEAN D 7.625 .250 7.375 .1550 7.220 01/01/2027
600072412 STEVENSON,JEAN D 7.625 .250 7.375 .1550 7.220 01/01/2027
600072413 STEVENSON,JEAN D 7.625 .250 7.375 .1550 7.220 01/01/2027
600072414 STEVENSON,JEAN D 7.625 .250 7.375 .1550 7.220 01/01/2027
600072415 WELLMAN,RONALD J 7.625 .250 7.375 .1550 7.220 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072400 DENBO,HOWARD E 92416802 $3,914.10 09/01/1997 360
600072401 HOUTZAGER,MARCEL P 92416572 $4,954.56 09/01/1997 360
600072402 KIECKHEFERIII,WALTER F 92414697 $4,600.66 09/01/1997 360
600072403 KILDOW,MICHAEL T 92414692 $1,263.41 09/01/1997 360
600072404 MEYER,ROBERT R 92414643 $1,698.71 09/01/1997 360
600072405 WALLACE,PATRICK 92414464 $1,896.89 09/01/1997 360
600072406 BRANCHE,ZACHARY Y 92414385 $1,719.59 19 09/01/1997 360
600072408 WALAS,WALTER A 92413658 $2,689.62 09/01/1997 360
600072410 SCHER,MARC S 92413442 $3,538.97 09/01/1997 360
600072411 STEVENSON,JEAN D 92413359 $566.24 09/01/1997 360
600072412 STEVENSON,JEAN D 92413355 $566.24 09/01/1997 360
600072413 STEVENSON,JEAN D 92413348 $566.24 09/01/1997 360
600072414 STEVENSON,JEAN D 92413339 $566.24 09/01/1997 360
600072415 WELLMAN,RONALD J 92413285 $3,114.29 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072400 DENBO,HOWARD E 2.00 2.75 12.63 2.750 2.500 2.345 $975,000.00 N
600072401 HOUTZAGER,MARCEL P 2.00 2.75 12.63 2.750 2.500 2.345 $990,000.00 N
600072402 KIECKHEFERIII,WALTER F 2.00 2.75 12.63 2.750 2.500 2.345 $900,000.00 N
600072403 KILDOW,MICHAEL T 2.00 2.75 12.63 2.750 2.500 2.345 $255,000.00 N
600072404 MEYER,ROBERT R 2.00 2.75 12.63 2.750 2.500 2.345 $325,000.00 N
600072405 WALLACE,PATRICK 2.00 2.75 12.63 2.750 2.500 2.345 $335,000.00 N
600072406 BRANCHE,ZACHARY Y 2.00 2.75 12.63 2.750 2.500 2.345 $269,950.00 N
600072408 WALAS,WALTER A 2.00 2.75 12.63 2.750 2.500 2.345 $495,000.00 N
600072410 SCHER,MARC S 2.00 2.75 12.63 2.750 2.500 2.345 $625,000.00 N
600072411 STEVENSON,JEAN D 2.00 2.75 12.63 2.750 2.500 2.345 $141,000.00 N
600072412 STEVENSON,JEAN D 2.00 2.75 12.63 2.750 2.500 2.345 $147,000.00 N
600072413 STEVENSON,JEAN D 2.00 2.75 12.63 2.750 2.500 2.345 $137,000.00 N
600072414 STEVENSON,JEAN D 2.00 2.75 12.63 2.750 2.500 2.345 $142,000.00 N
600072415 WELLMAN,RONALD J 2.00 2.75 12.63 2.750 2.500 2.345 $550,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 56
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072416 KRASS,MARC S 510 CARRINGTON LANE LOVELAND OH 45140 $65,211.63
600072417 HENN,ROBERT L 25 LOIS COURT MILL VALLE CA 94941 $569,980.31
600072419 KNUTSEN,KATHLEEN P 15758 KAVIN LANE LOS GATOS CA 95030 $397,631.81
600072420 WHEELER,D B 178 AVENIDA MIRAFLO TIBURON CA 94920 $528,760.65
600072421 PERCY,KATHERINE 9912 WESTWANDA DRIVE LOS ANGELE CA 90210 $385,407.30
600072422 NEWELLJR.,MARTIN P 8928 ALICIA STREET PHILADELPH PA 19111 $269,147.02
600072423 LUNDGREN,ROBERT G 17 ALTA VISTA AVEN MILL VALLE CA 94941 $447,335.77
600072424 GRINNELL,MICHAEL O 15 PASEO MIRASOL TIBURON CA 94920 $397,631.72
600072425 MAHONEY,BILL 241 CEDAR CREST DRI GLENWOOD S CO 81601 $218,529.93
600072426 TEUFEL,WILLIAM L 6 STANTON PLACE MILL VALLE CA 94941 $486,725.82
600072428 UNKRICH,LEE 35 OXFORD DRIVE SAN RAFAEL CA 94903 $417,513.39
600072429 FATH,HARRY J 11 ELMHURST PLACE CINCINNATI OH 45208 $973,451.66
600072430 IERO,JOSEPH D 30 CRAIG LANE FRASER PA 19355 $248,519.88
600072431 GARRIGA,FRANCISCO J 13409 PARDISSI COURT MARYLAND H MO 63146 $282,533.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072416 KRASS,MARC S 7.625 .250 7.375 .1550 7.220 01/01/2027
600072417 HENN,ROBERT L 7.625 .250 7.375 .1550 7.220 01/01/2027
600072419 KNUTSEN,KATHLEEN P 7.625 .250 7.375 .1550 7.220 01/01/2027
600072420 WHEELER,D B 7.625 .250 7.375 .1550 7.220 01/01/2027
600072421 PERCY,KATHERINE 7.625 .250 7.375 .1550 7.220 12/01/2026
600072422 NEWELLJR.,MARTIN P 7.625 .250 7.375 .1550 7.220 01/01/2027
600072423 LUNDGREN,ROBERT G 7.625 .250 7.375 .1550 7.220 01/01/2027
600072424 GRINNELL,MICHAEL O 7.625 .250 7.375 .1550 7.220 01/01/2027
600072425 MAHONEY,BILL 7.625 .250 7.375 .1550 7.220 12/01/2026
600072426 TEUFEL,WILLIAM L 7.625 .250 7.375 .1550 7.220 12/01/2026
600072428 UNKRICH,LEE 7.625 .250 7.375 .1550 7.220 01/01/2027
600072429 FATH,HARRY J 7.625 .250 7.375 .1550 7.220 12/01/2026
600072430 IERO,JOSEPH D 7.625 .250 7.375 .1550 7.220 01/01/2027
600072431 GARRIGA,FRANCISCO J 7.625 .250 7.375 .1550 7.220 02/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072416 KRASS,MARC S 92413255 $464.31 09/01/1997 360
600072417 HENN,ROBERT L 92413204 $4,058.31 09/01/1997 360
600072419 KNUTSEN,KATHLEEN P 92412968 $2,831.17 09/01/1997 360
600072420 WHEELER,D B 92412910 $3,786.70 09/01/1997 360
600072421 PERCY,KATHERINE 92412749 $2,746.25 09/01/1997 360
600072422 NEWELLJR.,MARTIN P 92412291 $1,916.35 3 09/01/1997 360
600072423 LUNDGREN,ROBERT G 92412195 $3,185.07 09/01/1997 360
600072424 GRINNELL,MICHAEL O 92412190 $2,831.18 09/01/1997 360
600072425 MAHONEY,BILL 92412163 $1,557.15 09/01/1997 360
600072426 TEUFEL,WILLIAM L 92411853 $3,468.19 09/01/1997 360
600072428 UNKRICH,LEE 92411667 $2,972.73 09/01/1997 360
600072429 FATH,HARRY J 92411487 $6,936.38 09/01/1997 360
600072430 IERO,JOSEPH D 92411474 $1,769.48 09/01/1997 360
600072431 GARRIGA,FRANCISCO J 92411289 $2,010.13 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072416 KRASS,MARC S 2.00 2.75 12.63 2.750 2.500 2.345 $82,000.00 N
600072417 HENN,ROBERT L 2.00 2.75 12.63 2.750 2.500 2.345 $795,000.00 N
600072419 KNUTSEN,KATHLEEN P 2.00 2.75 12.63 2.750 2.500 2.345 $585,000.00 N
600072420 WHEELER,D B 2.00 2.75 12.63 2.750 2.500 2.345 $986,000.00 N
600072421 PERCY,KATHERINE 2.00 2.75 12.63 2.750 2.500 2.345 $485,000.00 N
600072422 NEWELLJR.,MARTIN P 2.00 2.75 12.63 2.750 2.500 2.345 $285,000.00 N
600072423 LUNDGREN,ROBERT G 2.00 2.75 12.63 2.750 2.500 2.345 $705,000.00 N
600072424 GRINNELL,MICHAEL O 2.00 2.75 12.63 2.750 2.500 2.345 $722,500.00 N
600072425 MAHONEY,BILL 2.00 2.75 12.63 2.750 2.500 2.345 $275,000.00 N
600072426 TEUFEL,WILLIAM L 2.00 2.75 12.63 2.750 2.500 2.345 $623,000.00 N
600072428 UNKRICH,LEE 2.00 2.75 12.63 2.750 2.500 2.345 $525,000.00 N
600072429 FATH,HARRY J 2.00 2.75 12.63 2.750 2.500 2.345 $1,600,000.00 N
600072430 IERO,JOSEPH D 2.00 2.75 12.63 2.750 2.500 2.345 $365,000.00 N
600072431 GARRIGA,FRANCISCO J 2.00 2.75 12.63 2.750 2.500 2.345 $355,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 57
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072432 OMLOR,DAVID D 28621 JAEGER DRIVE LAGUNA NIG CA 92677 $255,506.50
600072433 BARNEWOLT,THOMAS G 380 ROUND TOWER ST. CHARLE MO 63304 $232,138.46
600072434 PANZA,ALFRED J 826 TENTH STREET OAKMONT PA 15139 $437,059.95
600072435 BROWN,JACK 224 21ST PLACE SANTA MONI CA 90402 $720,155.62
600072436 LAMKIN,DANIEL M 31 GREENVALE LAS FLORES CA 92688 $248,428.77
600072437 PETERSON,MARK A 12808 RUSSELL OVERLAND P KS 66208 $385,407.40
600072438 BARTON,ADAM 331 PINEHILL ROAD MILL VALLE CA 94941 $215,582.24
600072439 KROSS,DEAN E 1400 SQUIRREL HILL A PITTSBURGH PA 15217 $278,129.08
600072440 CRICK,PATRICIA A 8812 WOODED TRAIL CR LOUISVILLE KY 40220 $149,338.18
600072441 MCRAE,BRIAN W 2024 N RACINE AVENUE CHICAGO IL 60614 $287,143.34
600072442 HAMMERSMITH,GEORGE L 6 PLANTERS WOOD D HILTON HEA SC 29928 $322,081.74
600072443 TABB,LAWRENCE R 7 BENJAMIN DRIVE WESTBOROUG MA 1581 $248,078.32
600072444 SHEARA,JEFFREY F 299 46TH ST BOROUGH OF NJ 8202 $234,602.78
600072445 DERMAN,BRUCE 23011 OXNARD STREET LOS ANGELE CA 91367 $243,362.95
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072432 OMLOR,DAVID D 7.625 .250 7.375 .1550 7.220 12/01/2026
600072433 BARNEWOLT,THOMAS G 7.625 .250 7.375 .1550 7.220 12/01/2026
600072434 PANZA,ALFRED J 7.625 .250 7.375 .1550 7.220 12/01/2026
600072435 BROWN,JACK 7.625 .250 7.375 .1550 7.220 12/01/2026
600072436 LAMKIN,DANIEL M 7.625 .250 7.375 .1550 7.220 12/01/2026
600072437 PETERSON,MARK A 7.625 .250 7.375 .1550 7.220 12/01/2026
600072438 BARTON,ADAM 7.625 .250 7.375 .1550 7.220 11/01/2026
600072439 KROSS,DEAN E 7.625 .250 7.375 .1550 7.220 12/01/2026
600072440 CRICK,PATRICIA A 7.625 .250 7.375 .1550 7.220 03/01/2027
600072441 MCRAE,BRIAN W 7.625 .250 7.375 .1550 7.220 12/01/2026
600072442 HAMMERSMITH,GEORGE L 7.625 .250 7.375 .1550 7.220 01/01/2027
600072443 TABB,LAWRENCE R 7.625 .250 7.375 .1550 7.220 12/01/2026
600072444 SHEARA,JEFFREY F 7.625 .250 7.375 .1550 7.220 01/01/2027
600072445 DERMAN,BRUCE 7.625 .250 7.375 .1550 7.220 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072432 OMLOR,DAVID D 92410921 $1,831.78 09/01/1997 360
600072433 BARNEWOLT,THOMAS G 92410849 $1,654.11 3 09/01/1997 360
600072434 PANZA,ALFRED J 92410654 $3,114.29 09/01/1997 360
600072435 BROWN,JACK 92410592 $5,131.50 09/01/1997 360
600072436 LAMKIN,DANIEL M 92410375 $1,770.20 7 09/01/1997 360
600072437 PETERSON,MARK A 92410336 $2,746.24 09/01/1997 360
600072438 BARTON,ADAM 92410235 $1,537.33 09/01/1997 360
600072439 KROSS,DEAN E 92409962 $1,981.82 09/01/1997 360
600072440 CRICK,PATRICIA A 92409928 $1,061.69 09/01/1997 360
600072441 MCRAE,BRIAN W 92409825 $2,066.76 09/01/1997 360
600072442 HAMMERSMITH,GEORGE L 92409788 $2,293.25 09/01/1997 360
600072443 TABB,LAWRENCE R 92409760 $1,769.48 09/01/1997 360
600072444 SHEARA,JEFFREY F 92409704 $1,670.39 09/01/1997 360
600072445 DERMAN,BRUCE 92409646 $1,734.09 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072432 OMLOR,DAVID D 2.00 2.75 12.63 2.750 2.500 2.345 $363,000.00 N
600072433 BARNEWOLT,THOMAS G 2.00 2.75 12.63 2.750 2.500 2.345 $246,000.00 N
600072434 PANZA,ALFRED J 2.00 2.75 12.63 2.750 2.500 2.345 $550,000.00 N
600072435 BROWN,JACK 2.00 2.75 12.63 2.750 2.500 2.345 $1,250,000.00 N
600072436 LAMKIN,DANIEL M 2.00 2.75 12.63 2.750 2.500 2.345 $263,294.00 N
600072437 PETERSON,MARK A 2.00 2.75 12.63 2.750 2.500 2.345 $485,000.00 N
600072438 BARTON,ADAM 2.00 2.75 12.63 2.750 2.500 2.345 $271,550.00 N
600072439 KROSS,DEAN E 2.00 2.75 12.63 2.750 2.500 2.345 $350,000.00 N
600072440 CRICK,PATRICIA A 2.00 2.75 12.63 2.750 2.500 2.345 $200,000.00 N
600072441 MCRAE,BRIAN W 2.00 2.75 12.63 2.750 2.500 2.345 $365,000.00 N
600072442 HAMMERSMITH,GEORGE L 2.00 2.75 12.63 2.750 2.500 2.345 $405,000.00 N
600072443 TABB,LAWRENCE R 2.00 2.75 12.63 2.750 2.500 2.345 $400,000.00 N
600072444 SHEARA,JEFFREY F 2.00 2.75 12.63 2.750 2.500 2.345 $295,000.00 N
600072445 DERMAN,BRUCE 2.00 2.75 12.63 2.750 2.500 2.345 $380,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 58
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072446 DAWSON,RICHARD J 6 DRUMLIN ROAD IPSWICH MA 1938 $239,190.95
600072448 SHANK,BRUCE A 2A WOODLAWN TERRAC HOLLIDAYSB PA 16648 $131,318.34
600072449 JOINER,CLINTON H 2532 OBSERVATORY AVE CINCINNATI OH 45208 $248,519.88
600072450 ANDERSSON,OLA 9944 BENNINGTON DRIV CINCINNATI OH 45241 $258,262.70
600072451 SLADEK,JOSEPH N 112 LIMEKILN RD RIDGEFIELD CT 6877 $332,504.82
600072452 BERNARD,SUZANNE M 2 S CATHERINE LAGRANGE IL 60525 $357,594.47
600072453 HANKER,LARRY R 142 91ST STREET STONE HARB NJ 8247 $248,519.88
600072454 DEMEYER,RONALD L 3813 NW50TH TERRACE KANSAS CIT MO 64119 $85,673.71
600072455 CORWIN,JEANNE M 6272 GRAND VISTA AVE CINCINNATI OH 45213 $245,755.80
600072456 CAMACHO,ADOLFO 1627 SUN VALLEY COUR AUSTIN TX 78734 $101,765.46
600072457 CONWAY,WILLIAM 137 COACHMAN'S DRIV SOUTHBURY CT 6488 $248,137.99
600072458 KLUCHMAN,MICHAEL 115 ALLEN AVENUE NEWTON MA 2165 $301,735.78
600072459 MULLIGAN,ROBERT J 52 MCCOSH ROAD CLIFTON NJ 7013 $158,664.29
600072460 GARRETT,J. G 7 OLMSTEAD COURT NEW CANAAN CT 6840 $273,348.80
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072446 DAWSON,RICHARD J 7.625 .250 7.375 .1550 7.220 12/01/2026
600072448 SHANK,BRUCE A 7.625 .250 7.375 .1550 7.220 02/01/2027
600072449 JOINER,CLINTON H 7.625 .250 7.375 .1550 7.220 01/01/2027
600072450 ANDERSSON,OLA 7.625 .250 7.375 .1550 7.220 12/01/2026
600072451 SLADEK,JOSEPH N 7.625 .250 7.375 .1550 7.220 11/01/2026
600072452 BERNARD,SUZANNE M 7.625 .250 7.375 .1550 7.220 12/01/2026
600072453 HANKER,LARRY R 7.625 .250 7.375 .1550 7.220 01/01/2027
600072454 DEMEYER,RONALD L 7.625 .250 7.375 .1550 7.220 12/01/2026
600072455 CORWIN,JEANNE M 7.625 .250 7.375 .1550 7.220 11/01/2026
600072456 CAMACHO,ADOLFO 7.625 .250 7.375 .1550 7.220 12/01/2026
600072457 CONWAY,WILLIAM 7.625 .250 7.375 .1550 7.220 11/01/2026
600072458 KLUCHMAN,MICHAEL 7.625 .250 7.375 .1550 7.220 11/01/2026
600072459 MULLIGAN,ROBERT J 7.625 .250 7.375 .1550 7.220 11/01/2026
600072460 GARRETT,J. G 7.625 .250 7.375 .1550 7.220 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072446 DAWSON,RICHARD J 92409460 $1,704.37 09/01/1997 360
600072448 SHANK,BRUCE A 92409283 $934.29 09/01/1997 360
600072449 JOINER,CLINTON H 92409087 $1,769.48 09/01/1997 360
600072450 ANDERSSON,OLA 92408920 $1,840.26 09/01/1997 360
600072451 SLADEK,JOSEPH N 92408744 $2,371.11 09/01/1997 360
600072452 BERNARD,SUZANNE M 92408642 $2,548.06 3 09/01/1997 360
600072453 HANKER,LARRY R 92408118 $1,769.48 09/01/1997 360
600072454 DEMEYER,RONALD L 92408000 $610.47 09/01/1997 360
600072455 CORWIN,JEANNE M 92407858 $1,752.50 09/01/1997 360
600072456 CAMACHO,ADOLFO 92407638 $725.13 09/01/1997 360
600072457 CONWAY,WILLIAM 92407294 $1,769.48 09/01/1997 360
600072458 KLUCHMAN,MICHAEL 92407210 $2,151.69 09/01/1997 360
600072459 MULLIGAN,ROBERT J 92406084 $1,132.47 3 09/01/1997 360
600072460 GARRETT,J. G 92405628 $1,949.26 2 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072446 DAWSON,RICHARD J 2.00 2.75 12.63 2.750 2.500 2.345 $301,000.00 N
600072448 SHANK,BRUCE A 2.00 2.75 12.63 2.750 2.500 2.345 $165,000.00 N
600072449 JOINER,CLINTON H 2.00 2.75 12.63 2.750 2.500 2.345 $320,000.00 N
600072450 ANDERSSON,OLA 2.00 2.75 12.63 2.750 2.500 2.345 $325,000.00 N
600072451 SLADEK,JOSEPH N 2.00 2.75 12.63 2.750 2.500 2.345 $500,000.00 N
600072452 BERNARD,SUZANNE M 2.00 2.75 12.63 2.750 2.500 2.345 $400,000.00 N
600072453 HANKER,LARRY R 2.00 2.75 12.63 2.750 2.500 2.345 $312,500.00 N
600072454 DEMEYER,RONALD L 2.00 2.75 12.63 2.750 2.500 2.345 $115,000.00 N
600072455 CORWIN,JEANNE M 2.00 2.75 12.63 2.750 2.500 2.345 $309,500.00 N
600072456 CAMACHO,ADOLFO 2.00 2.75 12.63 2.750 2.500 2.345 $128,121.00 N
600072457 CONWAY,WILLIAM 2.00 2.75 12.63 2.750 2.500 2.345 $330,000.00 N
600072458 KLUCHMAN,MICHAEL 2.00 2.75 12.63 2.750 2.500 2.345 $380,000.00 N
600072459 MULLIGAN,ROBERT J 2.00 2.75 12.63 2.750 2.500 2.345 $185,000.00 N
600072460 GARRETT,J. G 2.00 2.75 12.63 2.750 2.500 2.345 $306,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 59
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072461 THOMAS,JOHN T 536 COMMERCE DRIVE DECATUR GA 30030 $100,892.91
600072462 FRUECHTEMEYER,RALPH G 6746 MIAMI WOODS DRI LOVELAND OH 45140 $218,659.90
600072463 LEITAO,DAVID A 44 WOODFIELDS DRIV TOLLAND CT 6084 $257,716.03
600072464 D'ABO,OLIVIA J 3480 BERRY DRIVE STUDIO CIT CA 91604 $389,080.31
600072465 KAISER,PAULINE E 8109 WITTS MEADOW LA CINCINNATI OH 45255 $85,739.04
600072466 SOUTHWORTH,KENNETH A 64 FITCH AVE DARIEN CT 6820 $223,324.10
600072467 KING,MICHAEL A PARCEL 10 DOVER FARM MANAKIN-SA VA 23103 $297,534.10
600072468 WEST,GORDON S 2132 MICHELTORENA ST LOS ANGELE CA 90039 $238,212.38
600072469 MASI,STEVEN A 3 PATTI LANE OAK RIDGE NJ 7438 $109,431.98
600072470 ENGLISH JR,CHRISTOPHER TOWN FARM ROAD CAVENDISH VT 5142 $404,646.51
600072471 SIMON,JAMES M 1336 NORMANDY LANE BARTLETT IL 60103 $158,684.92
600072472 LEU,KENNETH E 4129 PLUM TREE WICHITA KS 67226 $195,334.17
600072474 SEMPLE,JOSEPH P 5 CROWN WAY MARBLEHEAD MA 1945 $361,999.91
600072475 TALOTTA,LOUIS J 429 AUSTRALIAN AVEN PALM BEACH FL 33480 $194,388.98
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072461 THOMAS,JOHN T 7.625 .250 7.375 .1550 7.220 11/01/2026
600072462 FRUECHTEMEYER,RALPH G 7.625 .250 7.375 .1550 7.220 12/01/2026
600072463 LEITAO,DAVID A 7.625 .250 7.375 .1550 7.220 11/01/2026
600072464 D'ABO,OLIVIA J 7.625 .250 7.375 .1550 7.220 11/01/2026
600072465 KAISER,PAULINE E 7.625 .250 7.375 .1550 7.220 01/01/2027
600072466 SOUTHWORTH,KENNETH A 7.625 .250 7.375 .1550 7.220 11/01/2026
600072467 KING,MICHAEL A 7.625 .250 7.375 .1550 7.220 10/01/2026
600072468 WEST,GORDON S 7.625 .250 7.375 .1550 7.220 11/01/2026
600072469 MASI,STEVEN A 7.625 .250 7.375 .1550 7.220 02/01/2027
600072470 ENGLISH JR,CHRISTOPHER 7.625 .250 7.375 .1550 7.220 10/01/2026
600072471 SIMON,JAMES M 7.625 .250 7.375 .1550 7.220 10/01/2026
600072472 LEU,KENNETH E 7.625 .250 7.375 .1550 7.220 11/01/2026
600072474 SEMPLE,JOSEPH P 7.625 .250 7.375 .1550 7.220 10/01/2026
600072475 TALOTTA,LOUIS J 7.625 .250 7.375 .1550 7.220 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072461 THOMAS,JOHN T 92405278 $719.47 3 09/01/1997 360
600072462 FRUECHTEMEYER,RALPH G 92405159 $1,559.98 09/01/1997 360
600072463 LEITAO,DAVID A 92404922 $1,837.79 19 09/01/1997 360
600072464 D'ABO,OLIVIA J 92404823 $2,774.55 09/01/1997 360
600072465 KAISER,PAULINE E 92404714 $610.47 09/01/1997 360
600072466 SOUTHWORTH,KENNETH A 92404647 $1,592.54 09/01/1997 360
600072467 KING,MICHAEL A 92404455 $2,123.39 09/01/1997 360
600072468 WEST,GORDON S 92403863 $1,698.71 09/01/1997 360
600072469 MASI,STEVEN A 92403718 $778.57 09/01/1997 360
600072470 ENGLISH JR,CHRISTOPHER 92401619 $2,887.80 09/01/1997 360
600072471 SIMON,JAMES M 92401387 $1,132.47 09/01/1997 360
600072472 LEU,KENNETH E 92401271 $1,392.94 09/01/1997 360
600072474 SEMPLE,JOSEPH P 92400709 $2,583.45 09/01/1997 360
600072475 TALOTTA,LOUIS J 92400690 $1,387.28 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072461 THOMAS,JOHN T 2.00 2.75 12.63 2.750 2.500 2.345 $107,000.00 N
600072462 FRUECHTEMEYER,RALPH G 2.00 2.75 12.63 2.750 2.500 2.345 $295,000.00 N
600072463 LEITAO,DAVID A 2.00 2.75 12.63 2.750 2.500 2.345 $288,500.00 N
600072464 D'ABO,OLIVIA J 2.00 2.75 12.63 2.750 2.500 2.345 $490,000.00 N
600072465 KAISER,PAULINE E 2.00 2.75 12.63 2.750 2.500 2.345 $123,215.00 N
600072466 SOUTHWORTH,KENNETH A 2.00 2.75 12.63 2.750 2.500 2.345 $300,000.00 N
600072467 KING,MICHAEL A 2.00 2.75 12.63 2.750 2.500 2.345 $570,000.00 N
600072468 WEST,GORDON S 2.00 2.75 12.63 2.750 2.500 2.345 $300,000.00 N
600072469 MASI,STEVEN A 2.00 2.75 12.63 2.750 2.500 2.345 $150,000.00 N
600072470 ENGLISH JR,CHRISTOPHER 2.00 2.75 12.63 2.750 2.500 2.345 $510,000.00 N
600072471 SIMON,JAMES M 2.00 2.75 12.63 2.750 2.500 2.345 $224,000.00 N
600072472 LEU,KENNETH E 2.00 2.75 12.63 2.750 2.500 2.345 $246,000.00 N
600072474 SEMPLE,JOSEPH P 2.00 2.75 12.63 2.750 2.500 2.345 $495,000.00 N
600072475 TALOTTA,LOUIS J 2.00 2.75 12.63 2.750 2.500 2.345 $245,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 60
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072476 GLOVER,PAULETTE 1017 SUMMIT DRIVE GREENSBURG PA 15601 $87,746.08
600072477 HART,GARY M 10725 CHELMSFORD ROAD CINCINNATI OH 45240 $69,181.15
600072478 HARRIS,GEOFFREY C 4258 SAINT ANDREWS P CINCINNATI OH 45236 $131,616.76
600072480 CLARK SR,EARL E 4701 E PALM LANE PHOENIX AZ 85008 $42,348.33
600072483 RANDALL,MARIA E 4105 FAIRWAY DRIVE GIBSONIA PA 15044 $393,342.07
600072484 ATKINS,JOSEPH P 1718 WEEDON ROAD WAYNE PA 19087 $485,865.08
600072491 TYMECK,JAMES 11 FOUNTAYNE LANE MANALAPAN NJ 7726 $312,620.07
600072497 BALDWINIII,JOSEPH W 6 COTTAGE COURT HAVEN BEAC NJ 8008 $340,969.25
600072498 WESDORP,R. G 812 ENGLEWOOD COURT VILLA HILL KY 41017 $373,625.56
600072499 MAHEN,KEVIN E 123 MACDUFF CIRCLE STATE COLL PA 16801 $225,904.78
600072516 SUMME,LISA M 3186 KILLINGTON LANE CINCINNATI OH 45244 $306,460.27
600072553 KORMAN,STEVEN E 3008 WEDGEWOOD COURT MURRYSVILL PA 15668 $310,623.38
600072554 BAINES,BRYAN N 320 TIDES RUN YORKTOWN VA 23692 $288,282.95
600072555 NINI,REMO 1 BURNT HILL ROAD SKILLMAN NJ 8558 $274,912.95
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072476 GLOVER,PAULETTE 7.625 .250 7.375 .1550 7.220 10/01/2026
600072477 HART,GARY M 7.625 .250 7.375 .1550 7.220 10/01/2026
600072478 HARRIS,GEOFFREY C 7.625 .250 7.375 .1550 7.220 11/01/2026
600072480 CLARK SR,EARL E 7.625 .250 7.375 .1550 7.220 11/01/2026
600072483 RANDALL,MARIA E 7.625 .250 7.375 .1550 7.220 04/01/2027
600072484 ATKINS,JOSEPH P 7.625 .250 7.375 .1550 7.220 11/01/2026
600072491 TYMECK,JAMES 7.625 .250 7.375 .1550 7.220 11/01/2026
600072497 BALDWINIII,JOSEPH W 7.625 .250 7.375 .1550 7.220 01/01/2027
600072498 WESDORP,R. G 7.625 .250 7.375 .1550 7.220 04/01/2027
600072499 MAHEN,KEVIN E 7.625 .250 7.375 .1550 7.220 11/01/2026
600072516 SUMME,LISA M 7.625 .250 7.375 .1550 7.220 10/01/2026
600072553 KORMAN,STEVEN E 7.625 .250 7.375 .1550 7.220 03/01/2027
600072554 BAINES,BRYAN N 7.625 .250 7.375 .1550 7.220 01/01/2027
600072555 NINI,REMO 7.625 .250 7.375 .1550 7.220 03/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072476 GLOVER,PAULETTE 91899093 $626.40 09/01/1997 360
600072477 HART,GARY M 91898045 $498.99 09/01/1997 360
600072478 HARRIS,GEOFFREY C 91898011 $939.24 09/01/1997 360
600072480 CLARK SR,EARL E 91896000 $382.21 09/01/1997 360
600072483 RANDALL,MARIA E 91895121 $2,797.20 09/01/1997 360
600072484 ATKINS,JOSEPH P 91894869 $3,538.97 09/01/1997 360
600072491 TYMECK,JAMES 91892699 $2,229.31 09/01/1997 360
600072497 BALDWINIII,JOSEPH W 91889308 $2,427.73 09/01/1997 360
600072498 WESDORP,R. G 91888326 $2,654.23 09/01/1997 360
600072499 MAHEN,KEVIN E 91884697 $1,610.94 09/01/1997 360
600072516 SUMME,LISA M 91869292 $2,187.08 09/01/1997 360
600072553 KORMAN,STEVEN E 92417550 $2,208.32 09/01/1997 360
600072554 BAINES,BRYAN N 92417267 $2,052.61 09/01/1997 360
600072555 NINI,REMO 92417183 $1,990.67 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072476 GLOVER,PAULETTE 2.00 2.75 12.63 2.750 2.500 2.345 $123,000.00 N
600072477 HART,GARY M 2.00 2.75 12.63 2.750 2.500 2.345 $94,000.00 N
600072478 HARRIS,GEOFFREY C 2.00 2.75 12.63 2.750 2.500 2.345 $165,897.00 N
600072480 CLARK SR,EARL E 2.00 2.75 12.63 2.750 2.500 2.345 $72,000.00 N
600072483 RANDALL,MARIA E 2.00 2.75 12.63 2.750 2.500 2.345 $500,000.00 N
600072484 ATKINS,JOSEPH P 2.00 2.75 12.63 2.750 2.500 2.345 $700,000.00 N
600072491 TYMECK,JAMES 2.00 2.75 12.63 2.750 2.500 2.345 $393,708.00 N
600072497 BALDWINIII,JOSEPH W 2.00 2.75 12.63 2.750 2.500 2.345 $429,270.00 N
600072498 WESDORP,R. G 2.00 2.75 12.63 2.750 2.500 2.345 $522,000.00 N
600072499 MAHEN,KEVIN E 2.00 2.75 12.63 2.750 2.500 2.345 $315,000.00 N
600072516 SUMME,LISA M 2.00 2.75 12.63 2.750 2.500 2.345 $386,360.50 N
600072553 KORMAN,STEVEN E 2.00 2.75 12.63 2.750 2.500 2.345 $390,000.00 N
600072554 BAINES,BRYAN N 2.00 2.75 12.63 2.750 2.500 2.345 $390,000.00 N
600072555 NINI,REMO 2.00 2.75 12.63 2.750 2.500 2.345 $375,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 61
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072556 BOURLAND,MARY D 1434 HIDDEN OAKS CIR CORINTH TX 76205 $115,274.51
600072557 MATULAC,GODOFRED P 543 PASEO ROSAL CHULA VIST CA 91910 $233,210.69
600072558 BEALE,ALLEN M 13534 SOUTHWEST CLEAR TIRGARD OR 97223 $238,579.02
600072559 GUNAWAN,PETER S 610 READING PLACE DANVILLE CA 94526 $266,975.02
600072560 LEE,DALE W 1819 HUMBOLDT AVE. S MINNEAPOLI MN 55403 $265,011.32
600072561 WARNER,WILLIAM W 8504 ESTRELITA DRIVE LAS VEGAS NV 89128 $259,367.46
600072562 LANGWORTHY,MICHAEL 2127 LYANS DRIVE LACANADA CA 91011 $381,139.87
600072563 OWEN,MARGARETTE J 125 ORCHARD LANE HAVERFORD PA 19041 $496,275.88
600072564 SHORT,KERRY C 4 CAPTAIN HANDLEY ACTON MA 1720 $275,141.27
600072565 ALMEIDAJR.,RAYMOND J 7 LORRAINE DRIVE ASHLAND MA 1721 $218,092.21
600072566 MANDELKERN,PETER S 3 OAK TREE COURT SANDS POIN NY 11050 $597,352.70
600072567 JOHNSON,JOHN L 166 WHITNEY STREET NORTHBORO MA 1532 $231,343.78
600072568 CHANG,KYUNG H 300 STONYCROFT ROAD RIDGEWOOD NJ 7450 $481,262.60
600072569 BEDO,GARY J 17408 JESSICA LANE CHINO HILL CA 91709 $229,080.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072556 BOURLAND,MARY D 7.625 .250 7.375 .1550 7.220 12/01/2026
600072557 MATULAC,GODOFRED P 7.625 .250 7.375 .1550 7.220 02/01/2027
600072558 BEALE,ALLEN M 7.625 .250 7.375 .1550 7.220 01/01/2027
600072559 GUNAWAN,PETER S 7.625 .250 7.375 .1550 7.220 12/01/2026
600072560 LEE,DALE W 7.625 .250 7.375 .1550 7.220 11/01/2026
600072561 WARNER,WILLIAM W 7.625 .250 7.375 .1550 7.220 10/01/2026
600072562 LANGWORTHY,MICHAEL 7.625 .250 7.375 .1550 7.220 11/01/2026
600072563 OWEN,MARGARETTE J 7.625 .250 7.375 .1550 7.220 11/01/2026
600072564 SHORT,KERRY C 7.625 .250 7.375 .1550 7.220 12/01/2026
600072565 ALMEIDAJR.,RAYMOND J 7.625 .250 7.375 .1550 7.220 02/01/2027
600072566 MANDELKERN,PETER S 7.625 .250 7.375 .1550 7.220 03/01/2027
600072567 JOHNSON,JOHN L 7.625 .250 7.375 .1550 7.220 12/01/2026
600072568 CHANG,KYUNG H 7.625 .250 7.375 .1550 7.220 12/01/2026
600072569 BEDO,GARY J 7.625 .250 7.375 .1550 7.220 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072556 BOURLAND,MARY D 92416883 $821.40 1 09/01/1997 360
600072557 MATULAC,GODOFRED P 92416522 $1,660.49 1 09/01/1997 360
600072558 BEALE,ALLEN M 92412984 $1,698.71 09/01/1997 360
600072559 GUNAWAN,PETER S 92412431 $1,925.20 09/01/1997 360
600072560 LEE,DALE W 92406132 $1,889.81 09/01/1997 360
600072561 WARNER,WILLIAM W 92406052 $1,857.26 09/01/1997 360
600072562 LANGWORTHY,MICHAEL 92405408 $2,717.93 09/01/1997 360
600072563 OWEN,MARGARETTE J 92404440 $3,538.97 09/01/1997 360
600072564 SHORT,KERRY C 92403186 $1,960.59 09/01/1997 360
600072565 ALMEIDAJR.,RAYMOND J 92402720 $1,552.19 09/01/1997 360
600072566 MANDELKERN,PETER S 92402119 $4,246.76 09/01/1997 360
600072567 JOHNSON,JOHN L 92401790 $1,648.45 3 09/01/1997 360
600072568 CHANG,KYUNG H 92401522 $3,429.26 19 09/01/1997 360
600072569 BEDO,GARY J 92401461 $1,633.59 14 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072556 BOURLAND,MARY D 2.00 2.75 12.63 2.750 2.500 2.345 $122,200.00 N
600072557 MATULAC,GODOFRED P 2.00 2.75 12.63 2.750 2.500 2.345 $247,308.00 N
600072558 BEALE,ALLEN M 2.00 2.75 12.63 2.750 2.500 2.345 $300,000.00 N
600072559 GUNAWAN,PETER S 2.00 2.75 12.63 2.750 2.500 2.345 $340,000.00 N
600072560 LEE,DALE W 2.00 2.75 12.63 2.750 2.500 2.345 $335,500.00 N
600072561 WARNER,WILLIAM W 2.00 2.75 12.63 2.750 2.500 2.345 $328,000.00 N
600072562 LANGWORTHY,MICHAEL 2.00 2.75 12.63 2.750 2.500 2.345 $480,000.00 N
600072563 OWEN,MARGARETTE J 2.00 2.75 12.63 2.750 2.500 2.345 $700,000.00 N
600072564 SHORT,KERRY C 2.00 2.75 12.63 2.750 2.500 2.345 $346,400.00 N
600072565 ALMEIDAJR.,RAYMOND J 2.00 2.75 12.63 2.750 2.500 2.345 $274,179.00 N
600072566 MANDELKERN,PETER S 2.00 2.75 12.63 2.750 2.500 2.345 $765,000.00 N
600072567 JOHNSON,JOHN L 2.00 2.75 12.63 2.750 2.500 2.345 $274,900.00 N
600072568 CHANG,KYUNG H 2.00 2.75 12.63 2.750 2.500 2.345 $570,000.00 N
600072569 BEDO,GARY J 2.00 2.75 12.63 2.750 2.500 2.345 $242,990.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 62
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072570 KALUS,GARY S 1480 BRIARBERRY LANE GILROY CA 95020 $247,994.74
600072571 HEWITT,ROBERT L 16528 ENGLEWOOD AVENU LOS GATOS CA 95032 $283,649.28
600072572 WHITELAW,CHARLES M 1 SUNNY MEADE STR LADUE MO 63124 $260,342.42
600072575 KATTMAN,D M 15 ELMWOOD ROAD MARBLEHEAD MA 1945 $373,199.43
600072589 PALAZZINI,WILLIAM 331 TEMPLETON COURT GRANITE BA CA 95746 $245,661.29
600072590 MCCOYJR.,HAROLD V 10 FOUNDRY DAM ROA COLD SPRIN NY 10516 $227,243.77
600072591 MIKRUT,JEROME W 1210 MACINTOSH DRIVE WAUCONDA IL 60084 $232,488.43
600072592 GAGNI,ENGELI G 10161 MACADAM LANE CUPERTINO CA 95014 $330,882.82
600072593 RUSSO,RANDOLPH J 14 DEERWOOD DRIVE NEW CITY NY 10956 $155,428.22
600072594 WALTER,LAURA M 24 BLAKES HILL ROA WESTFORD MA 1886 $266,765.28
600072595 HUGLE,DAVID S 17 LOS CERROS DRIV GREENBRAE CA 94904 $358,140.94
600072596 KUPETZ,DANIEL T 4208 MAMMOTH AVE. (SHERMAN O CA 91423 $256,667.67
600072597 MEROLAJR.,BLAIR H 101 LIMEWOOD AVENUE BRANFORD CT 6405 $224,175.32
600072598 RASKIN,DONALD W 23051 PARK DULCE (CALABASAS CA 91302 $270,389.59
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072570 KALUS,GARY S 7.625 .250 7.375 .1550 7.220 10/01/2026
600072571 HEWITT,ROBERT L 7.625 .250 7.375 .1550 7.220 10/01/2026
600072572 WHITELAW,CHARLES M 7.625 .250 7.375 .1550 7.220 10/01/2026
600072575 KATTMAN,D M 7.625 .250 7.375 .1550 7.220 11/01/2026
600072589 PALAZZINI,WILLIAM 7.625 .250 7.375 .1550 7.220 03/01/2027
600072590 MCCOYJR.,HAROLD V 7.625 .250 7.375 .1550 7.220 04/01/2027
600072591 MIKRUT,JEROME W 7.625 .250 7.375 .1550 7.220 02/01/2027
600072592 GAGNI,ENGELI G 7.625 .250 7.375 .1550 7.220 04/01/2027
600072593 RUSSO,RANDOLPH J 7.625 .250 7.375 .1550 7.220 04/01/2027
600072594 WALTER,LAURA M 7.625 .250 7.375 .1550 7.220 02/01/2027
600072595 HUGLE,DAVID S 7.625 .250 7.375 .1550 7.220 02/01/2027
600072596 KUPETZ,DANIEL T 7.625 .250 7.375 .1550 7.220 02/01/2027
600072597 MEROLAJR.,BLAIR H 7.625 .250 7.375 .1550 7.220 04/01/2027
600072598 RASKIN,DONALD W 7.625 .250 7.375 .1550 7.220 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072570 KALUS,GARY S 91899801 $1,769.84 1 09/01/1997 360
600072571 HEWITT,ROBERT L 91899511 $2,024.29 09/01/1997 360
600072572 WHITELAW,CHARLES M 91899459 $1,857.96 09/01/1997 360
600072575 KATTMAN,D M 91899337 $2,661.31 09/01/1997 360
600072589 PALAZZINI,WILLIAM 92421526 $1,746.48 7 09/01/1997 360
600072590 MCCOYJR.,HAROLD V 92419687 $1,617.31 09/01/1997 360
600072591 MIKRUT,JEROME W 92419257 $1,656.24 09/01/1997 360
600072592 GAGNI,ENGELI G 92418576 $2,350.58 09/01/1997 360
600072593 RUSSO,RANDOLPH J 92418325 $1,104.16 09/01/1997 360
600072594 WALTER,LAURA M 92418323 $1,897.95 09/01/1997 360
600072595 HUGLE,DAVID S 92418100 $2,548.06 09/01/1997 360
600072596 KUPETZ,DANIEL T 92417800 $1,826.11 09/01/1997 360
600072597 MEROLAJR.,BLAIR H 92417752 $1,592.54 09/01/1997 360
600072598 RASKIN,DONALD W 92417709 $1,925.20 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072570 KALUS,GARY S 2.00 2.75 12.63 2.750 2.500 2.345 $263,253.00 N
600072571 HEWITT,ROBERT L 2.00 2.75 12.63 2.750 2.500 2.345 $436,000.00 N
600072572 WHITELAW,CHARLES M 2.00 2.75 12.63 2.750 2.500 2.345 $350,000.00 N
600072575 KATTMAN,D M 2.00 2.75 12.63 2.750 2.500 2.345 $470,000.00 N
600072589 PALAZZINI,WILLIAM 2.00 2.75 12.63 2.750 2.500 2.345 $259,762.00 N
600072590 MCCOYJR.,HAROLD V 2.00 2.75 12.63 2.750 2.500 2.345 $310,000.00 N
600072591 MIKRUT,JEROME W 2.00 2.75 12.63 2.750 2.500 2.345 $330,000.00 N
600072592 GAGNI,ENGELI G 2.00 2.75 12.63 2.750 2.500 2.345 $415,155.00 N
600072593 RUSSO,RANDOLPH J 2.00 2.75 12.63 2.750 2.500 2.345 $208,000.00 N
600072594 WALTER,LAURA M 2.00 2.75 12.63 2.750 2.500 2.345 $375,000.00 N
600072595 HUGLE,DAVID S 2.00 2.75 12.63 2.750 2.500 2.345 $825,000.00 N
600072596 KUPETZ,DANIEL T 2.00 2.75 12.63 2.750 2.500 2.345 $322,500.00 N
600072597 MEROLAJR.,BLAIR H 2.00 2.75 12.63 2.750 2.500 2.345 $300,000.00 N
600072598 RASKIN,DONALD W 2.00 2.75 12.63 2.750 2.500 2.345 $340,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 63
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072599 COOPER,VICTORIA M 5946 BUSCH DRIVE MALIBU CA 90265 $628,258.16
600072600 SCHNEIDER,LOUIS 51 BEACH LANE WESTHAMPTO NY 11978 $641,639.65
600072601 JACKSON,MICHAEL E 507 RIDGELAWN TRAIL BATAVIA IL 60510 $265,683.83
600072602 ANTONELLI,SANDRA G 536 ST. MARKS AVENU WESTFIELD NJ 7090 $257,466.54
600072603 HUFF,COURTNEY 1604 CASA GRANDE STR PASADENA CA 91104 $219,026.58
600072604 DAVIS,DON R 12233 GOODLAND COURT MANASSAS VA 22111 $277,531.30
600072605 GERSH,GARY 241 N ROCKINGHAM AVEN LOS ANGELE CA 90049 $956,565.28
600072606 LOWELL,THOMAS C 11 WYNDEMERE DRIVE SOUTHBOROU MA 1772 $564,761.92
600072607 WANAMAKER,MARK R 16 FIRST STREET COLORADO S CO 80906 $207,282.15
600072608 SABELLA,FRANK 306 DEERTRAIL LANE MILL VALLE CA 94941 $337,102.20
600072609 LOUGHRIDGE,MARK P 186 CAZNEAU AVENUE SAUSALITO CA 94965 $255,482.67
600072610 GAFFNEY,PHILLIP G 307 CHANNING RD. BURLINGAME CA 94010 $254,887.34
600072612 AUSTIN,GARY K 1646 GREENFIELD COUR GURNEE IL 60031 $232,366.04
600072613 TUCHLER,ANDREW T 9 NORTHWOOD LANE NATICK MA 1760 $545,637.67
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072599 COOPER,VICTORIA M 7.625 .250 7.375 .1550 7.220 01/01/2027
600072600 SCHNEIDER,LOUIS 7.625 .250 7.375 .1550 7.220 04/01/2027
600072601 JACKSON,MICHAEL E 7.625 .250 7.375 .1550 7.220 12/01/2026
600072602 ANTONELLI,SANDRA G 7.625 .250 7.375 .1550 7.220 01/01/2027
600072603 HUFF,COURTNEY 7.625 .250 7.375 .1550 7.220 12/01/2026
600072604 DAVIS,DON R 7.625 .250 7.375 .1550 7.220 12/01/2026
600072605 GERSH,GARY 7.625 .250 7.375 .1550 7.220 12/01/2026
600072606 LOWELL,THOMAS C 7.625 .250 7.375 .1550 7.220 11/01/2026
600072607 WANAMAKER,MARK R 7.625 .250 7.375 .1550 7.220 10/01/2026
600072608 SABELLA,FRANK 7.625 .250 7.375 .1550 7.220 10/01/2026
600072609 LOUGHRIDGE,MARK P 7.625 .250 7.375 .1550 7.220 10/01/2026
600072610 GAFFNEY,PHILLIP G 7.625 .250 7.375 .1550 7.220 11/01/2026
600072612 AUSTIN,GARY K 7.625 .250 7.375 .1550 7.220 01/01/2027
600072613 TUCHLER,ANDREW T 7.625 .250 7.375 .1550 7.220 02/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072599 COOPER,VICTORIA M 92417049 $4,473.26 09/01/1997 360
600072600 SCHNEIDER,LOUIS 92412391 $4,558.19 09/01/1997 360
600072601 JACKSON,MICHAEL E 92410710 $1,896.89 09/01/1997 360
600072602 ANTONELLI,SANDRA G 92410636 $1,833.19 09/01/1997 360
600072603 HUFF,COURTNEY 92410210 $1,560.69 7 09/01/1997 360
600072604 DAVIS,DON R 92410053 $1,977.58 19 09/01/1997 360
600072605 GERSH,GARY 92409867 $6,816.05 09/01/1997 360
600072606 LOWELL,THOMAS C 92405352 $4,027.35 09/01/1997 360
600072607 WANAMAKER,MARK R 92403516 $1,479.29 1 09/01/1997 360
600072608 SABELLA,FRANK 92401213 $2,406.50 09/01/1997 360
600072609 LOUGHRIDGE,MARK P 92401036 $1,823.28 09/01/1997 360
600072610 GAFFNEY,PHILLIP G 92400794 $1,817.61 09/01/1997 360
600072612 AUSTIN,GARY K 91894337 $1,654.47 14 09/01/1997 360
600072613 TUCHLER,ANDREW T 91891962 $3,882.04 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072599 COOPER,VICTORIA M 2.00 2.75 12.63 2.750 2.500 2.345 $790,000.00 N
600072600 SCHNEIDER,LOUIS 2.00 2.75 12.63 2.750 2.500 2.345 $920,000.00 N
600072601 JACKSON,MICHAEL E 2.00 2.75 12.63 2.750 2.500 2.345 $335,000.00 N
600072602 ANTONELLI,SANDRA G 2.00 2.75 12.63 2.750 2.500 2.345 $359,000.00 N
600072603 HUFF,COURTNEY 2.00 2.75 12.63 2.750 2.500 2.345 $245,000.00 N
600072604 DAVIS,DON R 2.00 2.75 12.63 2.750 2.500 2.345 $294,229.00 N
600072605 GERSH,GARY 2.00 2.75 12.63 2.750 2.500 2.345 $3,800,000.00 N
600072606 LOWELL,THOMAS C 2.00 2.75 12.63 2.750 2.500 2.345 $740,000.00 N
600072607 WANAMAKER,MARK R 2.00 2.75 12.63 2.750 2.500 2.345 $220,000.00 N
600072608 SABELLA,FRANK 2.00 2.75 12.63 2.750 2.500 2.345 $425,000.00 N
600072609 LOUGHRIDGE,MARK P 2.00 2.75 12.63 2.750 2.500 2.345 $322,000.00 N
600072610 GAFFNEY,PHILLIP G 2.00 2.75 12.63 2.750 2.500 2.345 $321,000.00 N
600072612 AUSTIN,GARY K 2.00 2.75 12.63 2.750 2.500 2.345 $246,068.00 N
600072613 TUCHLER,ANDREW T 2.00 2.75 12.63 2.750 2.500 2.345 $685,589.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 64
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072614 CHAPMAN,SUSAN K 52 DRAKES BAY DRIV CORONA DEL CA 92625 $533,436.29
600072615 BOLAT,HASAN 655 S ELISEO DRIVE LARKSPUR CA 94939 $209,801.88
600072616 SCHULER,LEE J 16 MUIRFIELD PLACE ST.CHARLES MO 63304 $137,928.54
600072617 CHARLTON,ERIK A 2684 UNION STREET SAN FRANCI CA 94123 $656,591.75
600072618 PARSONS,JON R 1545 EDGEWOOD DRIVE PALO ALTO CA 94303 $765,768.95
600072619 KULLA,MARC S 530 MINTON LANE MOUNTAIN V CA 94041 $290,690.56
600072620 WINER,RICHARD A 1473 TYLER PARK WAY MOUNTAIN V CA 94040 $262,139.26
600072621 EDELSTEIN,MARK A 51 TREADWELL LANE WESTON CT 6883 $341,215.89
600072622 BOULTER,CHRISTOPHER L 19742 DORADO DRIVE TRABUCO CA CA 92679 $247,729.41
600072623 HICKEY,MICHAEL J 1437 E SOUTH PLYMOUTH CHICAGO IL 60605 $227,174.34
600072624 ACTOR,LEE D 15374 TAMSON COURT MONTE SERE CA 95030 $842,979.34
600072625 SCHUGART,HUGH 672-67 4 2ND AVENUE SAN FRANCI CA 94118 $397,934.37
600072626 KILDOW,MICHAEL T 110 FLORENCE AVENUE MILL VALLE CA 94941 $336,045.96
600072627 FRAWLEY,ANDREW J 50 YORK ROAD WAYLAND MA 1778 $584,041.40
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072614 CHAPMAN,SUSAN K 7.625 .250 7.375 .1550 7.220 05/01/2027
600072615 BOLAT,HASAN 7.625 .250 7.375 .1550 7.220 03/01/2027
600072616 SCHULER,LEE J 7.625 .250 7.375 .1550 7.220 01/01/2027
600072617 CHARLTON,ERIK A 7.625 .250 7.375 .1550 7.220 02/01/2027
600072618 PARSONS,JON R 7.625 .250 7.375 .1550 7.220 02/01/2027
600072619 KULLA,MARC S 7.625 .250 7.375 .1550 7.220 02/01/2027
600072620 WINER,RICHARD A 7.625 .250 7.375 .1550 7.220 02/01/2027
600072621 EDELSTEIN,MARK A 7.625 .250 7.375 .1550 7.220 02/01/2027
600072622 BOULTER,CHRISTOPHER L 7.625 .250 7.375 .1550 7.220 01/01/2027
600072623 HICKEY,MICHAEL J 7.625 .250 7.375 .1550 7.220 02/01/2027
600072624 ACTOR,LEE D 7.625 .250 7.375 .1550 7.220 01/01/2027
600072625 SCHUGART,HUGH 7.625 .250 7.375 .1550 7.220 02/01/2027
600072626 KILDOW,MICHAEL T 7.625 .250 7.375 .1550 7.220 01/01/2027
600072627 FRAWLEY,ANDREW J 7.625 .250 7.375 .1550 7.220 02/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072614 CHAPMAN,SUSAN K 92423274 $3,786.70 09/01/1997 360
600072615 BOLAT,HASAN 92418897 $1,502.29 09/01/1997 360
600072616 SCHULER,LEE J 92417432 $982.06 09/01/1997 360
600072617 CHARLTON,ERIK A 92417411 $4,671.44 09/01/1997 360
600072618 PARSONS,JON R 92416856 $5,450.01 09/01/1997 360
600072619 KULLA,MARC S 92416665 $2,068.17 09/01/1997 360
600072620 WINER,RICHARD A 92416664 $1,865.04 1 09/01/1997 360
600072621 EDELSTEIN,MARK A 92416441 $2,427.73 09/01/1997 360
600072622 BOULTER,CHRISTOPHER L 92416274 $1,764.88 09/01/1997 360
600072623 HICKEY,MICHAEL J 92416255 $1,627.93 09/01/1997 360
600072624 ACTOR,LEE D 92416174 $6,002.09 09/01/1997 360
600072625 SCHUGART,HUGH 92415652 $2,831.18 3 09/01/1997 360
600072626 KILDOW,MICHAEL T 92414681 $2,406.50 09/01/1997 360
600072627 FRAWLEY,ANDREW J 92414607 $4,156.17 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072614 CHAPMAN,SUSAN K 2.00 2.75 12.63 2.750 2.500 2.345 $670,000.00 N
600072615 BOLAT,HASAN 2.00 2.75 12.63 2.750 2.500 2.345 $283,000.00 N
600072616 SCHULER,LEE J 2.00 2.75 12.63 2.750 2.500 2.345 $185,000.00 N
600072617 CHARLTON,ERIK A 2.00 2.75 12.63 2.750 2.500 2.345 $825,000.00 N
600072618 PARSONS,JON R 2.00 2.75 12.63 2.750 2.500 2.345 $1,265,000.00 N
600072619 KULLA,MARC S 2.00 2.75 12.63 2.750 2.500 2.345 $366,221.00 N
600072620 WINER,RICHARD A 2.00 2.75 12.63 2.750 2.500 2.345 $310,000.00 N
600072621 EDELSTEIN,MARK A 2.00 2.75 12.63 2.750 2.500 2.345 $450,000.00 N
600072622 BOULTER,CHRISTOPHER L 2.00 2.75 12.63 2.750 2.500 2.345 $311,742.00 N
600072623 HICKEY,MICHAEL J 2.00 2.75 12.63 2.750 2.500 2.345 $287,500.00 N
600072624 ACTOR,LEE D 2.00 2.75 12.63 2.750 2.500 2.345 $1,375,000.00 N
600072625 SCHUGART,HUGH 2.00 2.75 12.63 2.750 2.500 2.345 $449,000.00 N
600072626 KILDOW,MICHAEL T 2.00 2.75 12.63 2.750 2.500 2.345 $450,000.00 N
600072627 FRAWLEY,ANDREW J 2.00 2.75 12.63 2.750 2.500 2.345 $740,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 65
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072628 BODKIN,THOMAS J 927 CONCORD CIRCLE MUNDELEIN IL 60060 $233,409.84
600072629 WEYHRAUCH,THOMAS A 4611 SALMON CREEK LN GIG HARBOU WA 98335 $150,983.82
600072630 THURMESJR.,NICHOLAS J 2929 N 15TH DRIVE PHOENIX AZ 85015 $55,916.99
600072631 COLLINS,TIMOTHY W 2147 TANTALLON DRIVE FT. MITCHE KY 41017 $86,471.30
600072633 LAMPKIN,JOSEPH C 1431 SWALLOW LANE GILROY CA 95020 $247,113.65
600072634 HANSTAD,MARLIN E 32908 MIDDLEBORO LIVONIA MI 48154 $143,147.38
600072635 BLOOMALECKSEN,BETH A 723 10TH STREET SANTA MONI CA 90402 $744,413.79
600072636 FREITAS,LUIS J 916 ALDER STREET GILROY CA 95020 $224,973.95
600072637 SOLITRO,FRANCES E 6321 GULF OF MEXICO LONG BOAT FL 34228 $494,669.05
600072638 GHERARDI,VINCENT J 7512 BRADFORD PEAR D IRVING TX 75063 $267,989.03
600072639 DEBERRY,TIMOTHY E 8560 GATEWICK DRIVE COLORADO S CO 80920 $214,819.59
600072640 STAHL,PETER L 936 TROPHY DRIVE MOUNTAIN V CA 94040 $377,169.65
600072641 GOLDMAN,JAMES S 1970 JOSEPHINE AVENU SAN JOSE CA 95129 $226,125.99
600072642 BALLINS,DAVID E 5782 S KALISPEL COURT AURORA CO 80014 $285,632.80
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072628 BODKIN,THOMAS J 7.625 .250 7.375 .1550 7.220 01/01/2027
600072629 WEYHRAUCH,THOMAS A 7.625 .250 7.375 .1550 7.220 12/01/2026
600072630 THURMESJR.,NICHOLAS J 7.625 .250 7.375 .1550 7.220 01/01/2027
600072631 COLLINS,TIMOTHY W 7.625 .250 7.375 .1550 7.220 12/01/2026
600072633 LAMPKIN,JOSEPH C 7.625 .250 7.375 .1550 7.220 12/01/2026
600072634 HANSTAD,MARLIN E 7.625 .250 7.375 .1550 7.220 01/01/2027
600072635 BLOOMALECKSEN,BETH A 7.625 .250 7.375 .1550 7.220 11/01/2026
600072636 FREITAS,LUIS J 7.625 .250 7.375 .1550 7.220 12/01/2026
600072637 SOLITRO,FRANCES E 7.625 .250 7.375 .1550 7.220 12/01/2026
600072638 GHERARDI,VINCENT J 7.625 .250 7.375 .1550 7.220 11/01/2026
600072639 DEBERRY,TIMOTHY E 7.625 .250 7.375 .1550 7.220 10/01/2026
600072640 STAHL,PETER L 7.625 .250 7.375 .1550 7.220 11/01/2026
600072641 GOLDMAN,JAMES S 7.625 .250 7.375 .1550 7.220 10/01/2026
600072642 BALLINS,DAVID E 7.625 .250 7.375 .1550 7.220 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072628 BODKIN,THOMAS J 92414179 $1,661.90 14 09/01/1997 360
600072629 WEYHRAUCH,THOMAS A 92414178 $1,075.85 09/01/1997 360
600072630 THURMESJR.,NICHOLAS J 92412700 $398.13 09/01/1997 360
600072631 COLLINS,TIMOTHY W 92412350 $663.56 09/01/1997 360
600072633 LAMPKIN,JOSEPH C 92408805 $1,763.83 1 09/01/1997 360
600072634 HANSTAD,MARLIN E 92407665 $1,019.23 09/01/1997 360
600072635 BLOOMALECKSEN,BETH A 92407358 $5,308.46 09/01/1997 360
600072636 FREITAS,LUIS J 92407340 $1,603.87 1 09/01/1997 360
600072637 SOLITRO,FRANCES E 92407105 $3,538.97 09/01/1997 360
600072638 GHERARDI,VINCENT J 92406901 $1,911.04 19 09/01/1997 360
600072639 DEBERRY,TIMOTHY E 92402903 $1,533.09 7 09/01/1997 360
600072640 STAHL,PETER L 92402217 $2,689.62 09/01/1997 360
600072641 GOLDMAN,JAMES S 92402152 $1,613.77 09/01/1997 360
600072642 BALLINS,DAVID E 92402007 $2,038.45 14 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072628 BODKIN,THOMAS J 2.00 2.75 12.63 2.750 2.500 2.345 $247,160.00 N
600072629 WEYHRAUCH,THOMAS A 2.00 2.75 12.63 2.750 2.500 2.345 $190,000.00 N
600072630 THURMESJR.,NICHOLAS J 2.00 2.75 12.63 2.750 2.500 2.345 $75,000.00 N
600072631 COLLINS,TIMOTHY W 2.00 2.75 12.63 2.750 2.500 2.345 $125,000.00 N
600072633 LAMPKIN,JOSEPH C 2.00 2.75 12.63 2.750 2.500 2.345 $276,897.00 N
600072634 HANSTAD,MARLIN E 2.00 2.75 12.63 2.750 2.500 2.345 $180,000.00 N
600072635 BLOOMALECKSEN,BETH A 2.00 2.75 12.63 2.750 2.500 2.345 $1,260,000.00 N
600072636 FREITAS,LUIS J 2.00 2.75 12.63 2.750 2.500 2.345 $238,573.00 N
600072637 SOLITRO,FRANCES E 2.00 2.75 12.63 2.750 2.500 2.345 $625,000.00 N
600072638 GHERARDI,VINCENT J 2.00 2.75 12.63 2.750 2.500 2.345 $300,000.00 N
600072639 DEBERRY,TIMOTHY E 2.00 2.75 12.63 2.750 2.500 2.345 $228,000.00 N
600072640 STAHL,PETER L 2.00 2.75 12.63 2.750 2.500 2.345 $475,000.00 N
600072641 GOLDMAN,JAMES S 2.00 2.75 12.63 2.750 2.500 2.345 $325,000.00 N
600072642 BALLINS,DAVID E 2.00 2.75 12.63 2.750 2.500 2.345 $320,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 66
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072643 STALDER,JAMES C 1821 WOODLANDS CIRCL PITTSBURGH PA 15241 $886,348.74
600072644 CAMERON,LAURIE 20 CHURCH STREET U GREENWICH CT 6830 $236,440.51
600072651 SOIFER,DAVID M 9250 GIVEN ROAD CINCINNATI OH 45243 $119,619.69
600072652 KUHN,MICHAEL R 550 NORMANDY COURT PITTSBURGH PA 15238 $448,717.24
600072653 DEITRICK,DAVID J 105 REBECCA COURT PITTSBURGH PA 15237 $123,247.65
600072654 JOHNSONJR.,EVERETT C 124 BIRCH LANE GREENWICH CT 6830 $319,087.80
600072655 BRACE,RAYMOND M 26 LOCUST AVENUE HERSHEY PA 17033 $95,586.81
600072656 JUELLE,OSCAR J ONE CENTRAL PARK WE BOROUGH OF NY 10023 $279,766.53
600072657 SANDERS,DAVID I 6405 GIVEN ROAD CINCINNATI OH 45243 $662,645.13
600072658 CLAASSEN,SALLY A 2631 SQUAW PRAIRIE R BELVIDERE IL 61008 $223,533.28
600072659 TAYLOR,VALERIE E 1001 RAY AVENUE LOS ALTOS CA 94022 $303,925.77
600072660 MCGUINNESS JR,VINCENT J 1960 PORT RAMSGATE P NEWPORT BE CA 92660 $405,035.15
600072661 WEISS,BARRY R 96 SUGAR LOAF DRIV TIBURON CA 94920 $530,709.62
600072663 MISNER,TIMOTHY C 1330 GREENWOOD DRIVE PALO ALTO CA 94301 $647,676.36
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072643 STALDER,JAMES C 7.625 .250 7.375 .1550 7.220 11/01/2026
600072644 CAMERON,LAURIE 7.625 .250 7.375 .1550 7.220 10/01/2026
600072651 SOIFER,DAVID M 7.750 .250 7.500 .1550 7.345 05/01/2027
600072652 KUHN,MICHAEL R 7.750 .250 7.500 .1550 7.345 05/01/2027
600072653 DEITRICK,DAVID J 7.750 .250 7.500 .1550 7.345 05/01/2027
600072654 JOHNSONJR.,EVERETT C 7.750 .250 7.500 .1550 7.345 05/01/2027
600072655 BRACE,RAYMOND M 7.750 .250 7.500 .1550 7.345 03/01/2027
600072656 JUELLE,OSCAR J 7.750 .250 7.500 .1550 7.345 02/01/2027
600072657 SANDERS,DAVID I 7.750 .250 7.500 .1550 7.345 02/01/2027
600072658 CLAASSEN,SALLY A 7.750 .250 7.500 .1550 7.345 12/01/2026
600072659 TAYLOR,VALERIE E 7.750 .250 7.500 .1550 7.345 11/01/2026
600072660 MCGUINNESS JR,VINCENT J 7.750 .250 7.500 .1550 7.345 11/01/2026
600072661 WEISS,BARRY R 7.750 .250 7.500 .1550 7.345 10/01/2026
600072663 MISNER,TIMOTHY C 7.750 .250 7.500 .1550 7.345 04/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072643 STALDER,JAMES C 92401939 $6,320.60 09/01/1997 360
600072644 CAMERON,LAURIE 92401081 $1,687.38 09/01/1997 360
600072651 SOIFER,DAVID M 92433088 $874.02 09/01/1997 360
600072652 KUHN,MICHAEL R 92428735 $3,223.85 09/01/1997 360
600072653 DEITRICK,DAVID J 92427252 $885.49 09/01/1997 360
600072654 JOHNSONJR.,EVERETT C 92426512 $2,292.52 09/01/1997 360
600072655 BRACE,RAYMOND M 92421722 $687.76 09/01/1997 360
600072656 JUELLE,OSCAR J 92418562 $2,020.28 09/01/1997 360
600072657 SANDERS,DAVID I 92417915 $4,771.31 09/01/1997 360
600072658 CLAASSEN,SALLY A 92410898 $1,611.93 09/01/1997 360
600072659 TAYLOR,VALERIE E 92407865 $2,199.39 09/01/1997 360
600072660 MCGUINNESS JR,VINCENT J 92407807 $2,922.97 09/01/1997 360
600072661 WEISS,BARRY R 91897462 $3,832.81 09/01/1997 360
600072663 MISNER,TIMOTHY C 92427103 $4,656.68 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072643 STALDER,JAMES C 2.00 2.75 12.63 2.750 2.500 2.345 $1,250,000.00 N
600072644 CAMERON,LAURIE 2.00 2.75 12.63 2.750 2.500 2.345 $298,000.00 N
600072651 SOIFER,DAVID M 2.00 2.75 12.75 2.750 2.500 2.345 $550,000.00 N
600072652 KUHN,MICHAEL R 2.00 2.75 12.75 2.750 2.500 2.345 $596,000.00 N
600072653 DEITRICK,DAVID J 2.00 2.75 12.75 2.750 2.500 2.345 $154,500.00 N
600072654 JOHNSONJR.,EVERETT C 2.00 2.75 12.75 2.750 2.500 2.345 $900,000.00 N
600072655 BRACE,RAYMOND M 2.00 2.75 12.75 2.750 2.500 2.345 $120,000.00 N
600072656 JUELLE,OSCAR J 2.00 2.75 12.75 2.750 2.500 2.345 $402,960.00 N
600072657 SANDERS,DAVID I 2.00 2.75 12.75 2.750 2.500 2.345 $1,820,000.00 N
600072658 CLAASSEN,SALLY A 2.00 2.75 12.75 2.750 2.500 2.345 $304,000.00 N
600072659 TAYLOR,VALERIE E 2.00 2.75 12.75 2.750 2.500 2.345 $540,000.00 N
600072660 MCGUINNESS JR,VINCENT J 2.00 2.75 12.75 2.750 2.500 2.345 $510,000.00 N
600072661 WEISS,BARRY R 2.00 2.75 12.75 2.750 2.500 2.345 $940,000.00 N
600072663 MISNER,TIMOTHY C 2.00 2.75 12.75 2.750 2.500 2.345 $830,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 67
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072664 BUFF,KATHARINE W 1900 RITTENHOUSE SQU PHILADELPH PA 19103 $139,499.52
600072665 FOX,STEPHEN M 9716 U.S. HWY 42 PROSPECT KY 40059 $274,016.95
600072666 MILL,MEREDITH 60 CORTE ALEGRE GREENBRAE CA 94904 $209,249.26
600072667 HOON,PHILIP A 9 BROADWAY AVENUE KENTFIELD CA 94904 $433,444.97
600072668 SETZER,CURT B 1649-1 651 BEACH STREE SAN FRANCI CA 94123 $747,318.89
600072669 SAHN,KENNETH B 3400 CHICKERING LANE BLOOMFIELD MI 48302 $240,659.79
600072670 WOELK,MEGAN W 1965 N LINCOLN AVE. CHICAGO IL 60614 $149,065.22
600072671 ATKINS,TIMOTHY C 289 DEVONSHIRE ROAD TREDYFFRIN PA 19333 $188,261.78
600072672 CALLAS,PERRY G 5430 E HILLSIDE ROAD CRYSTAL LA IL 60012 $331,799.01
600072673 LYTZ,KARL S 135 UPLAND ROAD KENTFIELD CA 94904 $668,075.20
600072674 TEDESCO,STEPHEN 57 ORANGE AVENUE LARKSPUR CA 94939 $402,261.29
600072675 MITCHELL,STEPHEN 1727 VINE STREET BERKELEY CA 94703 $227,018.75
600072676 BEDELL,MICHAEL L 23441 SKYVIEW TERRACE LOS GATOS CA 95030 $345,506.62
600072677 BEYER,MERLYN R 13681 ALTA LOMA LANE JAMUL CA 91935 $238,967.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072664 BUFF,KATHARINE W 7.750 .250 7.500 .1550 7.345 04/01/2027
600072665 FOX,STEPHEN M 7.750 .250 7.500 .1550 7.345 04/01/2027
600072666 MILL,MEREDITH 7.750 .250 7.500 .1550 7.345 04/01/2027
600072667 HOON,PHILIP A 7.750 .250 7.500 .1550 7.345 04/01/2027
600072668 SETZER,CURT B 7.750 .250 7.500 .1550 7.345 04/01/2027
600072669 SAHN,KENNETH B 7.750 .250 7.500 .1550 7.345 03/01/2027
600072670 WOELK,MEGAN W 7.750 .250 7.500 .1550 7.345 04/01/2027
600072671 ATKINS,TIMOTHY C 7.750 .250 7.500 .1550 7.345 05/01/2027
600072672 CALLAS,PERRY G 7.750 .250 7.500 .1550 7.345 02/01/2027
600072673 LYTZ,KARL S 7.750 .250 7.500 .1550 7.345 03/01/2027
600072674 TEDESCO,STEPHEN 7.750 .250 7.500 .1550 7.345 03/01/2027
600072675 MITCHELL,STEPHEN 7.750 .250 7.500 .1550 7.345 03/01/2027
600072676 BEDELL,MICHAEL L 7.750 .250 7.500 .1550 7.345 03/01/2027
600072677 BEYER,MERLYN R 7.750 .250 7.500 .1550 7.345 03/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072664 BUFF,KATHARINE W 92426995 $1,002.98 09/01/1997 360
600072665 FOX,STEPHEN M 92426271 $1,970.13 09/01/1997 360
600072666 MILL,MEREDITH 92425943 $1,504.47 09/01/1997 360
600072667 HOON,PHILIP A 92425564 $3,116.39 09/01/1997 360
600072668 SETZER,CURT B 92424798 $5,373.09 09/01/1997 360
600072669 SAHN,KENNETH B 92424692 $1,731.57 2 09/01/1997 360
600072670 WOELK,MEGAN W 92424488 $1,071.75 09/01/1997 360
600072671 ATKINS,TIMOTHY C 92423927 $1,352.59 09/01/1997 360
600072672 CALLAS,PERRY G 92423849 $2,399.99 09/01/1997 360
600072673 LYTZ,KARL S 92423598 $4,814.29 09/01/1997 360
600072674 TEDESCO,STEPHEN 92423213 $2,894.31 09/01/1997 360
600072675 MITCHELL,STEPHEN 92422743 $1,633.42 09/01/1997 360
600072676 BEDELL,MICHAEL L 92422456 $2,485.95 09/01/1997 360
600072677 BEYER,MERLYN R 92422379 $1,719.39 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072664 BUFF,KATHARINE W 2.00 2.75 12.75 2.750 2.500 2.345 $175,000.00 N
600072665 FOX,STEPHEN M 2.00 2.75 12.75 2.750 2.500 2.345 $426,800.00 N
600072666 MILL,MEREDITH 2.00 2.75 12.75 2.750 2.500 2.345 $360,000.00 N
600072667 HOON,PHILIP A 2.00 2.75 12.75 2.750 2.500 2.345 $650,000.00 N
600072668 SETZER,CURT B 2.00 2.75 12.75 2.750 2.500 2.345 $1,000,000.00 N
600072669 SAHN,KENNETH B 2.00 2.75 12.75 2.750 2.500 2.345 $254,500.00 N
600072670 WOELK,MEGAN W 2.00 2.75 12.75 2.750 2.500 2.345 $187,000.00 N
600072671 ATKINS,TIMOTHY C 2.00 2.75 12.75 2.750 2.500 2.345 $236,000.00 N
600072672 CALLAS,PERRY G 2.00 2.75 12.75 2.750 2.500 2.345 $550,000.00 N
600072673 LYTZ,KARL S 2.00 2.75 12.75 2.750 2.500 2.345 $840,000.00 N
600072674 TEDESCO,STEPHEN 2.00 2.75 12.75 2.750 2.500 2.345 $505,000.00 N
600072675 MITCHELL,STEPHEN 2.00 2.75 12.75 2.750 2.500 2.345 $285,000.00 N
600072676 BEDELL,MICHAEL L 2.00 2.75 12.75 2.750 2.500 2.345 $436,000.00 N
600072677 BEYER,MERLYN R 2.00 2.75 12.75 2.750 2.500 2.345 $300,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 68
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072678 GLUCKSMAN,WILLIAM J 2706 BASIL LN. LOS ANGELE CA 90077 $452,046.11
600072679 READ,LECK 8983 S FORREST DR HIGHLANDS CO 80126 $242,538.51
600072680 HIGGINS,JULIE 44 TOLEDO SAN FRANCI CA 94123 $423,170.93
600072681 MCCLAIN,PATRICK C 2518 MONTGOMERY PLAC EL DORADO CA 95762 $294,143.16
600072682 DEFEVER,CYRIL R SOUTH MOUNTAIN PASS GARRISON NY 10524 $375,974.94
600072683 SIEGMUND,MICHAEL L 5014 RAVEN WAY CLAYTON CA 94517 $280,479.97
600072684 CAMBELL,DAVID N 39 GLENMOOR DRIVE ENGLEWOOD CO 80110 $396,752.25
600072685 SAVAGE,LESTER E 16222 W WARMUTH ROAD CANYON COU CA 91351 $247,928.37
600072686 ROBINSON,STEPHEN 2 CLOVER DRIVE WILTON CT 6497 $272,397.22
600072687 KRISHNA,SRINIVAS 3528 SYDNEY DRIVE SAN JOSE CA 95132 $232,200.31
600072688 RAZI,ABOLGHASSEM 46 MONTECITO ROAD SAN RAFAEL CA 94901 $460,802.06
600072689 WHITAKER,WILLIAM 3144 NICHOLS CANYON LOS ANGELE CA 90046 $397,392.51
600072690 FRANK,WARREN H 331 APPALOOSA WAY PALM DESER CA 92260 $288,705.60
600072691 EASTWOOD,JOHN E 32 MILLARD ROAD LARKSPUR CA 94939 $387,451.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072678 GLUCKSMAN,WILLIAM J 7.750 .250 7.500 .1550 7.345 03/01/2027
600072679 READ,LECK 7.750 .250 7.500 .1550 7.345 03/01/2027
600072680 HIGGINS,JULIE 7.750 .250 7.500 .1550 7.345 03/01/2027
600072681 MCCLAIN,PATRICK C 7.750 .250 7.500 .1550 7.345 02/01/2027
600072682 DEFEVER,CYRIL R 7.750 .250 7.500 .1550 7.345 03/01/2027
600072683 SIEGMUND,MICHAEL L 7.750 .250 7.500 .1550 7.345 02/01/2027
600072684 CAMBELL,DAVID N 7.750 .250 7.500 .1550 7.345 02/01/2027
600072685 SAVAGE,LESTER E 7.750 .250 7.500 .1550 7.345 03/01/2027
600072686 ROBINSON,STEPHEN 7.750 .250 7.500 .1550 7.345 01/01/2027
600072687 KRISHNA,SRINIVAS 7.750 .250 7.500 .1550 7.345 11/01/2026
600072688 RAZI,ABOLGHASSEM 7.750 .250 7.500 .1550 7.345 12/01/2026
600072689 WHITAKER,WILLIAM 7.750 .250 7.500 .1550 7.345 12/01/2026
600072690 FRANK,WARREN H 7.750 .250 7.500 .1550 7.345 12/01/2026
600072691 EASTWOOD,JOHN E 7.750 .250 7.500 .1550 7.345 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072678 GLUCKSMAN,WILLIAM J 92422234 $3,252.51 09/01/1997 360
600072679 READ,LECK 92422062 $1,747.33 1 09/01/1997 360
600072680 HIGGINS,JULIE 92421238 $3,044.75 09/01/1997 360
600072681 MCCLAIN,PATRICK C 92420634 $2,507.45 09/01/1997 360
600072682 DEFEVER,CYRIL R 92420081 $2,705.17 09/01/1997 360
600072683 SIEGMUND,MICHAEL L 92419939 $2,019.57 2 09/01/1997 360
600072684 CAMBELL,DAVID N 92419177 $3,008.93 09/01/1997 360
600072685 SAVAGE,LESTER E 92418807 $1,783.87 09/01/1997 360
600072686 ROBINSON,STEPHEN 92413078 $1,962.97 09/01/1997 360
600072687 KRISHNA,SRINIVAS 92412808 $1,675.69 3 09/01/1997 360
600072688 RAZI,ABOLGHASSEM 92412272 $3,335.62 09/01/1997 360
600072689 WHITAKER,WILLIAM 92412039 $2,865.65 09/01/1997 360
600072690 FRANK,WARREN H 92411220 $2,081.90 09/01/1997 360
600072691 EASTWOOD,JOHN E 92411198 $2,794.01 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072678 GLUCKSMAN,WILLIAM J 2.00 2.75 12.75 2.750 2.500 2.345 $620,000.00 N
600072679 READ,LECK 2.00 2.75 12.75 2.750 2.500 2.345 $256,773.00 N
600072680 HIGGINS,JULIE 2.00 2.75 12.75 2.750 2.500 2.345 $669,000.00 N
600072681 MCCLAIN,PATRICK C 2.00 2.75 12.75 2.750 2.500 2.345 $675,000.00 N
600072682 DEFEVER,CYRIL R 2.00 2.75 12.75 2.750 2.500 2.345 $472,000.00 N
600072683 SIEGMUND,MICHAEL L 2.00 2.75 12.75 2.750 2.500 2.345 $296,740.00 N
600072684 CAMBELL,DAVID N 2.00 2.75 12.75 2.750 2.500 2.345 $750,000.00 N
600072685 SAVAGE,LESTER E 2.00 2.75 12.75 2.750 2.500 2.345 $430,000.00 N
600072686 ROBINSON,STEPHEN 2.00 2.75 12.75 2.750 2.500 2.345 $342,500.00 N
600072687 KRISHNA,SRINIVAS 2.00 2.75 12.75 2.750 2.500 2.345 $259,900.00 N
600072688 RAZI,ABOLGHASSEM 2.00 2.75 12.75 2.750 2.500 2.345 $582,000.00 N
600072689 WHITAKER,WILLIAM 2.00 2.75 12.75 2.750 2.500 2.345 $530,000.00 N
600072690 FRANK,WARREN H 2.00 2.75 12.75 2.750 2.500 2.345 $390,000.00 N
600072691 EASTWOOD,JOHN E 2.00 2.75 12.75 2.750 2.500 2.345 $505,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 69
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072692 DEMMY,JOHN D 105 PADDOCK DRIVE NEWARK DE 19711 $184,273.21
600072693 ESKEY,MARK W 315 SUSSEX COURT SWEDESBORO NJ 8085 $119,395.55
600072694 SILVER,RAMON R 17021 WESTPORT DRIVE HUNTINGTON CA 92649 $396,796.45
600072695 ELLIOTT,GRAYDON A 572 SPRINGFIELD AVE OCEANSIDE CA 92057 $223,220.80
600072696 SULLIVAN,M H 41 NEVADA STREET SAN FRANCI CA 94110 $429,183.94
600072697 REID,DAVID 6424 LAWNTON LANE PHILADELPH PA 19126 $142,770.60
600072698 HOLMES,PAUL B 22353 N LINDEN DRIVE BARRINGTON IL 60010 $371,340.62
600072699 TRIPOLI,FRANCIS J 2041 BLAIR STREET WILLIAMSPO PA 17701 $99,348.14
600072700 TROIANI,CHRISTOPHER J 1711 SUMMIT POINTE SCRANTON PA 18508 $48,379.70
600072701 GERE,GARY M 356 SUMMIT DRIVE REDWOOD CI CA 94062 $321,928.25
600072702 SCHEPER,PAUL E 22187 WESTCLIFF MISSION VI CA 92692 $292,856.33
600072703 MILLER,JOHN L 3511 ST. GERMAINE CO LOUISVILLE KY 40207 $170,878.78
600072704 JOHNSONJR,THOMAS A SOUTH ROAD MILLBROOK NY 12545 $348,236.98
600072705 WELSH,PATRICK 7253 FOX HARBOR ROAD PROSPECT KY 40059 $223,533.26
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072692 DEMMY,JOHN D 7.750 .250 7.500 .1550 7.345 05/01/2027
600072693 ESKEY,MARK W 7.750 .250 7.500 .1550 7.345 02/01/2027
600072694 SILVER,RAMON R 7.750 .250 7.500 .1550 7.345 12/01/2026
600072695 ELLIOTT,GRAYDON A 7.750 .250 7.500 .1550 7.345 12/01/2026
600072696 SULLIVAN,M H 7.750 .250 7.500 .1550 7.345 12/01/2026
600072697 REID,DAVID 7.750 .250 7.500 .1550 7.345 01/01/2027
600072698 HOLMES,PAUL B 7.750 .250 7.500 .1550 7.345 11/01/2026
600072699 TRIPOLI,FRANCIS J 7.750 .250 7.500 .1550 7.345 12/01/2026
600072700 TROIANI,CHRISTOPHER J 7.750 .250 7.500 .1550 7.345 12/01/2026
600072701 GERE,GARY M 7.750 .250 7.500 .1550 7.345 12/01/2026
600072702 SCHEPER,PAUL E 7.750 .250 7.500 .1550 7.345 11/01/2026
600072703 MILLER,JOHN L 7.750 .250 7.500 .1550 7.345 12/01/2026
600072704 JOHNSONJR,THOMAS A 7.750 .250 7.500 .1550 7.345 02/01/2027
600072705 WELSH,PATRICK 7.750 .250 7.500 .1550 7.345 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072692 DEMMY,JOHN D 92411094 $1,323.93 09/01/1997 360
600072693 ESKEY,MARK W 92410953 $859.69 09/01/1997 360
600072694 SILVER,RAMON R 92410906 $2,861.35 09/01/1997 360
600072695 ELLIOTT,GRAYDON A 92410643 $1,611.57 14 09/01/1997 360
600072696 SULLIVAN,M H 92410582 $3,094.90 09/01/1997 360
600072697 REID,DAVID 92410522 $1,028.77 09/01/1997 360
600072698 HOLMES,PAUL B 92410517 $2,686.55 09/01/1997 360
600072699 TRIPOLI,FRANCIS J 92410311 $716.41 09/01/1997 360
600072700 TROIANI,CHRISTOPHER J 92410120 $349.25 09/01/1997 360
600072701 GERE,GARY M 92410035 $2,328.34 09/01/1997 360
600072702 SCHEPER,PAUL E 92409744 $2,113.42 09/01/1997 360
600072703 MILLER,JOHN L 92409735 $1,232.23 09/01/1997 360
600072704 JOHNSONJR,THOMAS A 92409727 $2,507.44 09/01/1997 360
600072705 WELSH,PATRICK 92409682 $1,611.93 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072692 DEMMY,JOHN D 2.00 2.75 12.75 2.750 2.500 2.345 $231,000.00 N
600072693 ESKEY,MARK W 2.00 2.75 12.75 2.750 2.500 2.345 $188,000.00 N
600072694 SILVER,RAMON R 2.00 2.75 12.75 2.750 2.500 2.345 $550,000.00 N
600072695 ELLIOTT,GRAYDON A 2.00 2.75 12.75 2.750 2.500 2.345 $236,818.00 N
600072696 SULLIVAN,M H 2.00 2.75 12.75 2.750 2.500 2.345 $540,000.00 N
600072697 REID,DAVID 2.00 2.75 12.75 2.750 2.500 2.345 $179,500.00 N
600072698 HOLMES,PAUL B 2.00 2.75 12.75 2.750 2.500 2.345 $492,652.76 N
600072699 TRIPOLI,FRANCIS J 2.00 2.75 12.75 2.750 2.500 2.345 $141,000.00 N
600072700 TROIANI,CHRISTOPHER J 2.00 2.75 12.75 2.750 2.500 2.345 $65,000.00 N
600072701 GERE,GARY M 2.00 2.75 12.75 2.750 2.500 2.345 $610,000.00 N
600072702 SCHEPER,PAUL E 2.00 2.75 12.75 2.750 2.500 2.345 $485,950.00 N
600072703 MILLER,JOHN L 2.00 2.75 12.75 2.750 2.500 2.345 $220,000.00 N
600072704 JOHNSONJR,THOMAS A 2.00 2.75 12.75 2.750 2.500 2.345 $600,000.00 N
600072705 WELSH,PATRICK 2.00 2.75 12.75 2.750 2.500 2.345 $335,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 70
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072706 JOHNSON JR,EARVIN 12 BEVERLY PARK DR LOS ANGELE CA 90210 $978,579.09
600072707 SMILEY,MICHAEL H 6739 ROUND OAK ROAD PENNGROVE CA 94951 $261,285.62
600072708 MILLS,DANIEL B 1510 LUPTON AVENUE SAN JOSE CA 95125 $362,613.57
600072709 FRANKLIN,CHARLES M 443 HOOVER RD AMBLER PA 19002 $127,165.58
600072710 COOK,BRIAN 736 WOODFIELD WAY ROCHESTER MI 48307 $248,208.13
600072711 MINKOFF,JAY B 865 AVALON AVENUE AVALON NJ 8202 $596,977.64
600072712 SUTHERLAND,JEANNIE 5046 SPANISH HILLS D LAS VEGAS NV 89113 $536,152.42
600072713 HALE,ROGER W 218 MOCKINGBIRD GAR LOUISVILLE KY 40207 $596,534.65
600072714 PATEL,MUKESH M 88 RUGGLES STREET WESTBOROUG MA 1581 $327,602.03
600072715 MOCHALSKI,DAVID L 1510 3RD STREET MANHATTAN CA 90266 $355,797.64
600072716 SOUZA,KENNETH S 18 HARRIS FARM ROA BOLTON MA 1740 $322,881.43
600072717 CARY,MICHAEL S 35 DURAN COURT PACIFICA CA 94044 $250,119.19
600072718 SHARIFI,MASUMEH 100 WILDOMAR STREET MILL VALLE CA 94941 $196,669.55
600072719 RANCK,RONALD G 3044 READING AVENUE HAMMONTON NJ 8037 $149,133.66
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072706 JOHNSON JR,EARVIN 7.750 .250 7.500 .1550 7.345 12/01/2026
600072707 SMILEY,MICHAEL H 7.750 .250 7.500 .1550 7.345 12/01/2026
600072708 MILLS,DANIEL B 7.750 .250 7.500 .1550 7.345 12/01/2026
600072709 FRANKLIN,CHARLES M 7.750 .250 7.500 .1550 7.345 12/01/2026
600072710 COOK,BRIAN 7.750 .250 7.500 .1550 7.345 01/01/2027
600072711 MINKOFF,JAY B 7.750 .250 7.500 .1550 7.345 02/01/2027
600072712 SUTHERLAND,JEANNIE 7.750 .250 7.500 .1550 7.345 11/01/2026
600072713 HALE,ROGER W 7.750 .250 7.500 .1550 7.345 01/01/2027
600072714 PATEL,MUKESH M 7.750 .250 7.500 .1550 7.345 11/01/2026
600072715 MOCHALSKI,DAVID L 7.750 .250 7.500 .1550 7.345 11/01/2026
600072716 SOUZA,KENNETH S 7.750 .250 7.500 .1550 7.345 12/01/2026
600072717 CARY,MICHAEL S 7.750 .250 7.500 .1550 7.345 11/01/2026
600072718 SHARIFI,MASUMEH 7.750 .250 7.500 .1550 7.345 11/01/2026
600072719 RANCK,RONALD G 7.750 .250 7.500 .1550 7.345 01/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072706 JOHNSON JR,EARVIN 92409664 $7,056.66 09/01/1997 360
600072707 SMILEY,MICHAEL H 92409656 $1,884.16 09/01/1997 360
600072708 MILLS,DANIEL B 92409631 $2,636.40 09/01/1997 360
600072709 FRANKLIN,CHARLES M 92409232 $917.01 09/01/1997 360
600072710 COOK,BRIAN 92408823 $1,788.52 14 09/01/1997 360
600072711 MINKOFF,JAY B 92408364 $4,298.47 09/01/1997 360
600072712 SUTHERLAND,JEANNIE 92408026 $3,940.27 09/01/1997 360
600072713 HALE,ROGER W 92407798 $4,298.47 09/01/1997 360
600072714 PATEL,MUKESH M 92407751 $2,364.16 09/01/1997 360
600072715 MOCHALSKI,DAVID L 92407377 $2,586.25 09/01/1997 360
600072716 SOUZA,KENNETH S 92407251 $2,328.34 09/01/1997 360
600072717 CARY,MICHAEL S 92406906 $1,805.00 7 09/01/1997 360
600072718 SHARIFI,MASUMEH 92406735 $1,504.47 09/01/1997 360
600072719 RANCK,RONALD G 92406603 $1,074.62 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072706 JOHNSON JR,EARVIN 2.00 2.75 12.75 2.750 2.500 2.345 $5,500,000.00 N
600072707 SMILEY,MICHAEL H 2.00 2.75 12.75 2.750 2.500 2.345 $420,000.00 N
600072708 MILLS,DANIEL B 2.00 2.75 12.75 2.750 2.500 2.345 $460,000.00 N
600072709 FRANKLIN,CHARLES M 2.00 2.75 12.75 2.750 2.500 2.345 $160,000.00 N
600072710 COOK,BRIAN 2.00 2.75 12.75 2.750 2.500 2.345 $262,800.00 N
600072711 MINKOFF,JAY B 2.00 2.75 12.75 2.750 2.500 2.345 $835,000.00 N
600072712 SUTHERLAND,JEANNIE 2.00 2.75 12.75 2.750 2.500 2.345 $1,500,000.00 N
600072713 HALE,ROGER W 2.00 2.75 12.75 2.750 2.500 2.345 $775,000.00 N
600072714 PATEL,MUKESH M 2.00 2.75 12.75 2.750 2.500 2.345 $465,000.00 N
600072715 MOCHALSKI,DAVID L 2.00 2.75 12.75 2.750 2.500 2.345 $540,000.00 N
600072716 SOUZA,KENNETH S 2.00 2.75 12.75 2.750 2.500 2.345 $505,000.00 N
600072717 CARY,MICHAEL S 2.00 2.75 12.75 2.750 2.500 2.345 $280,000.00 N
600072718 SHARIFI,MASUMEH 2.00 2.75 12.75 2.750 2.500 2.345 $432,500.00 N
600072719 RANCK,RONALD G 2.00 2.75 12.75 2.750 2.500 2.345 $203,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 71
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072720 ROGERS,ANTHONY K 1212 POINTE PLACE OLD HICKOR TN 37138 $355,398.51
600072721 POWELL,KENNETH E 402 ALPEN CT. WEXFORD PA 15090 $300,202.58
600072722 MANCINI,DONNA D 910 LYNNWOOD BLVD NASHVILLE TN 37205 $249,176.15
600072723 TENFELDE,THOMAS J 26931 CLARKSTON DRIVE BONITA SPR FL 34135 $100,440.61
600072724 WARREN,JONATHAN 1515 SHADY AVENUE PITTSBURGH PA 15217 $222,372.33
600072725 BAXI,NISHENDU S 15220 ARBOR DRIVE ORLAND PAR IL 60462 $566,255.09
600072726 STAHL,TODD L 66 KENSINGTON AVE. LAGRANGE IL 60525 $264,065.99
600072727 OVERBERG,JEFFREY D 1030 MOUND STREET CINCINNATI OH 45203 $123,098.96
600072728 MURPHY,BRIAN P 1028 MOUND STREET CINCINNATI OH 45203 $121,510.56
600072729 GARRETT,EDWARD C 3100 HERITAGE COURT CRESTWOOD KY 40014 $84,382.35
600072730 PHILLIPS,DENNIS G 1433 SHORELINE WAY LOVELAND OH 45140 $298,698.22
600072731 OWENS,DAVID A 707 PARK PLACE ELLENSBURG WA 98926 $56,585.86
600072732 MILLER,AARON M 221 MARBLE ISLAND R COLCHESTER VT 5446 $254,709.27
600072733 DARY,RICHARD L 1902 31ST AVENUE SE PUYALLUP WA 98374 $206,381.54
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072720 ROGERS,ANTHONY K 7.750 .250 7.500 .1550 7.345 11/01/2026
600072721 POWELL,KENNETH E 7.750 .250 7.500 .1550 7.345 11/01/2026
600072722 MANCINI,DONNA D 7.750 .250 7.500 .1550 7.345 11/01/2026
600072723 TENFELDE,THOMAS J 7.750 .250 7.500 .1550 7.345 01/01/2027
600072724 WARREN,JONATHAN 7.750 .250 7.500 .1550 7.345 11/01/2026
600072725 BAXI,NISHENDU S 7.750 .250 7.500 .1550 7.345 11/01/2026
600072726 STAHL,TODD L 7.750 .250 7.500 .1550 7.345 01/01/2027
600072727 OVERBERG,JEFFREY D 7.750 .250 7.500 .1550 7.345 11/01/2026
600072728 MURPHY,BRIAN P 7.750 .250 7.500 .1550 7.345 11/01/2026
600072729 GARRETT,EDWARD C 7.750 .250 7.500 .1550 7.345 11/01/2026
600072730 PHILLIPS,DENNIS G 7.750 .250 7.500 .1550 7.345 11/01/2026
600072731 OWENS,DAVID A 7.750 .250 7.500 .1550 7.345 11/01/2026
600072732 MILLER,AARON M 7.750 .250 7.500 .1550 7.345 02/01/2027
600072733 DARY,RICHARD L 7.750 .250 7.500 .1550 7.345 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072720 ROGERS,ANTHONY K 92405392 $2,564.76 19 09/01/1997 360
600072721 POWELL,KENNETH E 92405382 $2,166.43 09/01/1997 360
600072722 MANCINI,DONNA D 92405105 $1,798.19 2 09/01/1997 360
600072723 TENFELDE,THOMAS J 92404907 $791.64 09/01/1997 360
600072724 WARREN,JONATHAN 92404472 $1,604.76 09/01/1997 360
600072725 BAXI,NISHENDU S 92404232 $4,086.42 09/01/1997 360
600072726 STAHL,TODD L 92403963 $1,902.79 09/01/1997 360
600072727 OVERBERG,JEFFREY D 92403580 $888.35 09/01/1997 360
600072728 MURPHY,BRIAN P 92403578 $876.89 09/01/1997 360
600072729 GARRETT,EDWARD C 92403455 $608.95 09/01/1997 360
600072730 PHILLIPS,DENNIS G 92403222 $2,165.71 09/01/1997 360
600072731 OWENS,DAVID A 92402884 $408.35 09/01/1997 360
600072732 MILLER,AARON M 92402748 $1,834.02 09/01/1997 360
600072733 DARY,RICHARD L 92402654 $1,490.50 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072720 ROGERS,ANTHONY K 2.00 2.75 12.75 2.750 2.500 2.345 $408,000.00 N
600072721 POWELL,KENNETH E 2.00 2.75 12.75 2.750 2.500 2.345 $378,000.00 N
600072722 MANCINI,DONNA D 2.00 2.75 12.75 2.750 2.500 2.345 $279,000.00 N
600072723 TENFELDE,THOMAS J 2.00 2.75 12.75 2.750 2.500 2.345 $138,212.00 N
600072724 WARREN,JONATHAN 2.00 2.75 12.75 2.750 2.500 2.345 $280,000.00 N
600072725 BAXI,NISHENDU S 2.00 2.75 12.75 2.750 2.500 2.345 $713,000.00 N
600072726 STAHL,TODD L 2.00 2.75 12.75 2.750 2.500 2.345 $332,000.00 N
600072727 OVERBERG,JEFFREY D 2.00 2.75 12.75 2.750 2.500 2.345 $156,000.00 N
600072728 MURPHY,BRIAN P 2.00 2.75 12.75 2.750 2.500 2.345 $156,000.00 N
600072729 GARRETT,EDWARD C 2.00 2.75 12.75 2.750 2.500 2.345 $125,000.00 N
600072730 PHILLIPS,DENNIS G 2.00 2.75 12.75 2.750 2.500 2.345 $377,919.73 N
600072731 OWENS,DAVID A 2.00 2.75 12.75 2.750 2.500 2.345 $76,000.00 N
600072732 MILLER,AARON M 2.00 2.75 12.75 2.750 2.500 2.345 $320,000.00 N
600072733 DARY,RICHARD L 2.00 2.75 12.75 2.750 2.500 2.345 $219,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 72
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072734 DAVIS,DIXIE L 1801 BLUEBONNET LANE AUSTIN TX 78704 $87,801.37
600072736 MARKOWITZ,ALAN M 116 S 22ND STREET LONGPORT NJ 8403 $967,915.07
600072737 KIPROFF,PAUL M #2 LAKEVIEW DRIVE HIDDEN VAL PA 15502 $65,917.48
600072738 SIMONSON,RICHARD D 67 SYLVAN CREST SOUTHBURY CT 6488 $292,856.32
600072739 CHYTEN,ALAN M 18 HICKEY DRIVE FRAMINGHAM MA 1701 $106,217.69
600072740 TOFFLER,MICHAEL 1 DAVENPORT ROAD ROXBURY CT 6783 $409,006.16
600072741 BRACE,RAYMOND RD 1 BOX 32 HERSHEY PA 17033 $421,591.82
600072743 CHOJNACKI,JEROME E 5302 WESTERHAM HOUSTON TX 77069 $301,790.98
600072748 SMITH,JACOB P 6907 CLAIRBORNE ROAD SHAWNEE KS 66217 $216,667.09
600072753 KRANICH,JOEL H 1 PARKTON PLACE PITTSBURGH PA 15232 $284,715.95
600072761 OSSENMACHER,JOHN M 11 GLADES ROAD SCITUATE MA 2066 $562,073.17
600072789 OREFICEJR.,JOSEPH F 9500 WATERFALL ROAD BRENTWOOD TN 37027 $308,406.76
600072844 STEWART,LUCRETIA 611 BRENTWOOD COURT KING OF PR PA 19496 $99,569.64
600072845 BOEHLE,GREGORY E 3973 E KEMPER ROAD SHARONVILL OH 45241 $77,511.71
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072734 DAVIS,DIXIE L 7.750 .250 7.500 .1550 7.345 10/01/2026
600072736 MARKOWITZ,ALAN M 7.750 .250 7.500 .1550 7.345 11/01/2026
600072737 KIPROFF,PAUL M 7.750 .250 7.500 .1550 7.345 11/01/2026
600072738 SIMONSON,RICHARD D 7.750 .250 7.500 .1550 7.345 11/01/2026
600072739 CHYTEN,ALAN M 7.750 .250 7.500 .1550 7.345 11/01/2026
600072740 TOFFLER,MICHAEL 7.750 .250 7.500 .1550 7.345 11/01/2026
600072741 BRACE,RAYMOND 7.750 .250 7.500 .1550 7.345 10/01/2026
600072743 CHOJNACKI,JEROME E 7.750 .250 7.500 .1550 7.345 11/01/2026
600072748 SMITH,JACOB P 7.750 .250 7.500 .1550 7.345 10/01/2026
600072753 KRANICH,JOEL H 7.750 .250 7.500 .1550 7.345 11/01/2026
600072761 OSSENMACHER,JOHN M 7.750 .250 7.500 .1550 7.345 05/01/2027
600072789 OREFICEJR.,JOSEPH F 7.750 .250 7.500 .1550 7.345 10/01/2026
600072844 STEWART,LUCRETIA 7.750 .250 7.500 .1550 7.345 03/01/2027
600072845 BOEHLE,GREGORY E 7.750 .250 7.500 .1550 7.345 03/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072734 DAVIS,DIXIE L 92402501 $635.82 09/01/1997 360
600072736 MARKOWITZ,ALAN M 92402185 $6,985.02 09/01/1997 360
600072737 KIPROFF,PAUL M 92401423 $475.70 09/01/1997 360
600072738 SIMONSON,RICHARD D 92401411 $2,113.42 09/01/1997 360
600072739 CHYTEN,ALAN M 92401202 $977.90 09/01/1997 360
600072740 TOFFLER,MICHAEL 92400134 $2,951.62 09/01/1997 360
600072741 BRACE,RAYMOND 91899558 $3,044.75 09/01/1997 360
600072743 CHOJNACKI,JEROME E 91898772 $2,177.89 09/01/1997 360
600072748 SMITH,JACOB P 91898227 $1,565.00 19 09/01/1997 360
600072753 KRANICH,JOEL H 91893750 $2,054.67 09/01/1997 360
600072761 OSSENMACHER,JOHN M 91891074 $4,038.27 09/01/1997 360
600072789 OREFICEJR.,JOSEPH F 91873866 $2,227.33 09/01/1997 360
600072844 STEWART,LUCRETIA 92422011 $716.41 09/01/1997 360
600072845 BOEHLE,GREGORY E 92419748 $558.80 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072734 DAVIS,DIXIE L 2.00 2.75 12.75 2.750 2.500 2.345 $118,500.00 N
600072736 MARKOWITZ,ALAN M 2.00 2.75 12.75 2.750 2.500 2.345 $1,750,000.00 N
600072737 KIPROFF,PAUL M 2.00 2.75 12.75 2.750 2.500 2.345 $83,000.00 N
600072738 SIMONSON,RICHARD D 2.00 2.75 12.75 2.750 2.500 2.345 $372,000.00 N
600072739 CHYTEN,ALAN M 2.00 2.75 12.75 2.750 2.500 2.345 $255,000.00 N
600072740 TOFFLER,MICHAEL 2.00 2.75 12.75 2.750 2.500 2.345 $515,000.00 N
600072741 BRACE,RAYMOND 2.00 2.75 12.75 2.750 2.500 2.345 $573,000.00 N
600072743 CHOJNACKI,JEROME E 2.00 2.75 12.75 2.750 2.500 2.345 $385,000.00 N
600072748 SMITH,JACOB P 2.00 2.75 12.75 2.750 2.500 2.345 $229,950.00 N
600072753 KRANICH,JOEL H 2.00 2.75 12.75 2.750 2.500 2.345 $363,000.00 N
600072761 OSSENMACHER,JOHN M 2.00 2.75 12.75 2.750 2.500 2.345 $765,000.00 N
600072789 OREFICEJR.,JOSEPH F 2.00 2.75 12.75 2.750 2.500 2.345 $388,638.00 N
600072844 STEWART,LUCRETIA 2.00 2.75 12.75 2.750 2.500 2.345 $131,400.00 N
600072845 BOEHLE,GREGORY E 2.00 2.75 12.75 2.750 2.500 2.345 $115,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 73
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072846 DUNPHY,BARRY E 11 COBBLERS LANE BEVERLY MA 1915 $243,854.94
600072847 SHOPE,DONALD J 75 FOX LANE MILLVILLE DE 19970 $158,191.24
600072848 BOTKIN,PERRY L 12999 BLAIRWOOD DRIVE LOS ANGELE CA 91604 $536,076.01
600072849 AOKI,RALPH S 2001 HILLSBORO AVENU LOS ANGELE CA 90035 $326,259.24
600072850 BROWN,ERIC C 57 MARLBOROUGH STR BOSTON MA 2116 $281,936.30
600072851 KAN,KENNY 425-42 7 4TH AVENUE SAN FRANCI CA 94118 $327,364.19
600072852 CHENAULT,PAUL G 16185 EDGEMONT DRIVE FT. MYERS FL 33908 $223,364.98
600072853 YOUNG,KENNETH P 1015 E TUFTS AVE. ENGLEWOOD CO 80110 $377,238.65
600072854 BODDAPATI,SUBRAHMANYAM 1940 CLYDE DRIVE NAPERVILLE IL 60565 $249,378.16
600072856 ROSS,ROBERT S 560 HAVERHILL BLOOMFIELD MI 48304 $595,640.07
600072857 BURAKOW,NICHOLAS 9905 SHADDY COVE DRI FAIRFAX ST VA 22039 $344,217.20
600072858 HOWLE,GREGORY A 49 MILLER AVENUE ROCKAWAY NJ 7866 $225,350.44
600072859 EMERY,HARRY 3012 OAK AVENUE MANHATTAN CA 90266 $225,030.73
600072860 WILEY,J J 900 ROLLING PINES ORTONVILLE MI 48462 $296,330.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072846 DUNPHY,BARRY E 7.750 .250 7.500 .1550 7.345 03/01/2027
600072847 SHOPE,DONALD J 7.750 .250 7.500 .1550 7.345 03/01/2027
600072848 BOTKIN,PERRY L 7.750 .250 7.500 .1550 7.345 11/01/2026
600072849 AOKI,RALPH S 7.750 .250 7.500 .1550 7.345 12/01/2026
600072850 BROWN,ERIC C 7.750 .250 7.500 .1550 7.345 11/01/2026
600072851 KAN,KENNY 7.750 .250 7.500 .1550 7.345 11/01/2026
600072852 CHENAULT,PAUL G 7.750 .250 7.500 .1550 7.345 11/01/2026
600072853 YOUNG,KENNETH P 7.750 .250 7.500 .1550 7.345 11/01/2026
600072854 BODDAPATI,SUBRAHMANYAM 7.750 .250 7.500 .1550 7.345 10/01/2026
600072856 ROSS,ROBERT S 7.750 .250 7.500 .1550 7.345 11/01/2026
600072857 BURAKOW,NICHOLAS 7.750 .250 7.500 .1550 7.345 10/01/2026
600072858 HOWLE,GREGORY A 7.750 .250 7.500 .1550 7.345 11/01/2026
600072859 EMERY,HARRY 7.750 .250 7.500 .1550 7.345 10/01/2026
600072860 WILEY,J J 7.750 .250 7.500 .1550 7.345 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072846 DUNPHY,BARRY E 92416673 $1,755.22 2 09/01/1997 360
600072847 SHOPE,DONALD J 92410402 $1,138.20 09/01/1997 360
600072848 BOTKIN,PERRY L 92405970 $3,868.63 09/01/1997 360
600072849 AOKI,RALPH S 92405930 $2,352.70 19 09/01/1997 360
600072850 BROWN,ERIC C 92405922 $2,034.61 09/01/1997 360
600072851 KAN,KENNY 92405654 $2,389.95 09/01/1997 360
600072852 CHENAULT,PAUL G 92405110 $1,611.93 09/01/1997 360
600072853 YOUNG,KENNETH P 92404788 $2,722.37 09/01/1997 360
600072854 BODDAPATI,SUBRAHMANYAM 92404540 $1,810.84 09/01/1997 360
600072856 ROSS,ROBERT S 92404534 $4,298.47 09/01/1997 360
600072857 BURAKOW,NICHOLAS 92404450 $2,485.96 09/01/1997 360
600072858 HOWLE,GREGORY A 92404076 $1,626.26 09/01/1997 360
600072859 EMERY,HARRY 92403632 $1,625.19 09/01/1997 360
600072860 WILEY,J J 92403263 $2,138.49 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072846 DUNPHY,BARRY E 2.00 2.75 12.75 2.750 2.500 2.345 $258,000.00 N
600072847 SHOPE,DONALD J 2.00 2.75 12.75 2.750 2.500 2.345 $198,599.00 N
600072848 BOTKIN,PERRY L 2.00 2.75 12.75 2.750 2.500 2.345 $690,000.00 N
600072849 AOKI,RALPH S 2.00 2.75 12.75 2.750 2.500 2.345 $365,000.00 N
600072850 BROWN,ERIC C 2.00 2.75 12.75 2.750 2.500 2.345 $355,000.00 N
600072851 KAN,KENNY 2.00 2.75 12.75 2.750 2.500 2.345 $417,000.00 N
600072852 CHENAULT,PAUL G 2.00 2.75 12.75 2.750 2.500 2.345 $294,552.00 N
600072853 YOUNG,KENNETH P 2.00 2.75 12.75 2.750 2.500 2.345 $565,000.00 N
600072854 BODDAPATI,SUBRAHMANYAM 2.00 2.75 12.75 2.750 2.500 2.345 $318,530.00 N
600072856 ROSS,ROBERT S 2.00 2.75 12.75 2.750 2.500 2.345 $1,040,000.00 N
600072857 BURAKOW,NICHOLAS 2.00 2.75 12.75 2.750 2.500 2.345 $450,000.00 N
600072858 HOWLE,GREGORY A 2.00 2.75 12.75 2.750 2.500 2.345 $350,000.00 N
600072859 EMERY,HARRY 2.00 2.75 12.75 2.750 2.500 2.345 $302,500.00 N
600072860 WILEY,J J 2.00 2.75 12.75 2.750 2.500 2.345 $425,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 74
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072861 ANDERSON,JOSEPH J 10972 NW2 STREET PLANTATION FL 33324 $241,392.13
600072862 DEBBS,ROBERT H 2 SASSAFRAS COURT VOORHEES NJ 8043 $468,674.85
600072863 HONIGMAN,BENJAMIN 3622 E 7TH AVENUE PARK DENVER CO 80206 $294,567.22
600072864 JACOBI,RALPH 1231 CHATEAU DRIVE SAN JOSE CA 95120 $334,570.05
600072865 COUSINS,ROBERT E 14330 CORDWOOD COURT SARATOGA CA 95070 $619,987.92
600072867 ROSENBACH,JEFFREY B 619 THORNCROFT DRIV WEST CHEST PA 19380 $231,174.05
600072868 SECHREST,DENNIS G 1098 UPPER HAPPY VAL LAFAYETTE CA 94549 $289,381.80
600072878 BUCKLEY,DAVID A 128 S BROADWAY #D REDONDO BE CA 90277 $231,338.64
600072879 BRADEN,BRUCE F 40 POPLAR DRIVE KENTFIELD CA 94904 $678,061.60
600072881 GRIMES,JOHN C 14585 BOX ELDER COURT HUGHESVILL MD 20637 $239,506.44
600072882 DOBSON,EDWARD 1 CHERBOURG NEWPORT BE CA 92660 $348,236.98
600072883 VONLANGE,EDWARD C 12201 WOODFORD DRIVE MARRIOTTSV MD 21104 $347,906.38
600072884 LORIGO,JAMES C 4391 PRESERVE PARKWA LITTLETON CO 80121 $394,005.25
600072885 HOLLIBUSH,DANIEL J N 1931 LORAMOOR L LAKE GENEV WI 53147 $749,704.37
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072861 ANDERSON,JOSEPH J 7.750 .250 7.500 .1550 7.345 11/01/2026
600072862 DEBBS,ROBERT H 7.750 .250 7.500 .1550 7.345 12/01/2026
600072863 HONIGMAN,BENJAMIN 7.750 .250 7.500 .1550 7.345 12/01/2026
600072864 JACOBI,RALPH 7.750 .250 7.500 .1550 7.345 10/01/2026
600072865 COUSINS,ROBERT E 7.750 .250 7.500 .1550 7.345 10/01/2026
600072867 ROSENBACH,JEFFREY B 7.750 .250 7.500 .1550 7.345 11/01/2026
600072868 SECHREST,DENNIS G 7.750 .250 7.500 .1550 7.345 11/01/2026
600072878 BUCKLEY,DAVID A 7.750 .250 7.500 .1550 7.345 05/01/2027
600072879 BRADEN,BRUCE F 7.750 .250 7.500 .1550 7.345 05/01/2027
600072881 GRIMES,JOHN C 7.750 .250 7.500 .1550 7.345 02/01/2027
600072882 DOBSON,EDWARD 7.750 .250 7.500 .1550 7.345 02/01/2027
600072883 VONLANGE,EDWARD C 7.750 .250 7.500 .1550 7.345 01/01/2027
600072884 LORIGO,JAMES C 7.750 .250 7.500 .1550 7.345 02/01/2027
600072885 HOLLIBUSH,DANIEL J 7.750 .250 7.500 .1550 7.345 02/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072861 ANDERSON,JOSEPH J 92402920 $1,748.05 09/01/1997 360
600072862 DEBBS,ROBERT H 92402628 $3,379.67 19 09/01/1997 360
600072863 HONIGMAN,BENJAMIN 92402460 $2,124.16 09/01/1997 360
600072864 JACOBI,RALPH 92400834 $2,471.62 09/01/1997 360
600072865 COUSINS,ROBERT E 91899411 $4,477.58 09/01/1997 360
600072867 ROSENBACH,JEFFREY B 91899082 $1,679.27 09/01/1997 360
600072868 SECHREST,DENNIS G 91897943 $2,088.34 09/01/1997 360
600072878 BUCKLEY,DAVID A 92428229 $1,662.08 09/01/1997 360
600072879 BRADEN,BRUCE F 92424563 $4,871.60 09/01/1997 360
600072881 GRIMES,JOHN C 92419003 $1,724.77 09/01/1997 360
600072882 DOBSON,EDWARD 92418802 $2,507.44 09/01/1997 360
600072883 VONLANGE,EDWARD C 92418480 $2,507.45 09/01/1997 360
600072884 LORIGO,JAMES C 92417888 $2,836.99 09/01/1997 360
600072885 HOLLIBUSH,DANIEL J 92417711 $5,398.17 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072861 ANDERSON,JOSEPH J 2.00 2.75 12.75 2.750 2.500 2.345 $306,628.00 N
600072862 DEBBS,ROBERT H 2.00 2.75 12.75 2.750 2.500 2.345 $555,000.00 N
600072863 HONIGMAN,BENJAMIN 2.00 2.75 12.75 2.750 2.500 2.345 $425,000.00 N
600072864 JACOBI,RALPH 2.00 2.75 12.75 2.750 2.500 2.345 $600,000.00 N
600072865 COUSINS,ROBERT E 2.00 2.75 12.75 2.750 2.500 2.345 $925,000.00 N
600072867 ROSENBACH,JEFFREY B 2.00 2.75 12.75 2.750 2.500 2.345 $293,000.00 N
600072868 SECHREST,DENNIS G 2.00 2.75 12.75 2.750 2.500 2.345 $445,000.00 N
600072878 BUCKLEY,DAVID A 2.00 2.75 12.75 2.750 2.500 2.345 $290,000.00 N
600072879 BRADEN,BRUCE F 2.00 2.75 12.75 2.750 2.500 2.345 $850,000.00 N
600072881 GRIMES,JOHN C 2.00 2.75 12.75 2.750 2.500 2.345 $321,000.00 N
600072882 DOBSON,EDWARD 2.00 2.75 12.75 2.750 2.500 2.345 $740,000.00 N
600072883 VONLANGE,EDWARD C 2.00 2.75 12.75 2.750 2.500 2.345 $478,000.00 N
600072884 LORIGO,JAMES C 2.00 2.75 12.75 2.750 2.500 2.345 $595,000.00 N
600072885 HOLLIBUSH,DANIEL J 2.00 2.75 12.75 2.750 2.500 2.345 $1,200,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 75
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072886 MILLER,CHARLES G 207 SANTA ROSA AVEN SAUSALITO CA 94965 $395,386.88
600072887 WIDDOES,JAMES L 3178 ABINGTON DRIVE LOS ANGELE CA 90210 $806,514.00
600072888 PETRONE,NICHOLAS P O BOX 576 CASSA ALPINE BOR NJ 7620 $647,676.36
600072889 RUNNING,OLAF T 4461 PRESERVE PARKWA LITTLETON CO 80121 $518,299.20
600072890 BROWN,RONALD L 785 E SOUTHFORK DRIVE DRAPER UT 84020 $238,435.51
600072891 LYNCH,RAYMOND F 115 ELM AVENUE LARKSPUR CA 94939 $450,700.96
600072892 LEWIS,DONALD C 57 BATES BLVD. ORINDA CA 94563 $256,922.97
600072893 CARTERIII,JOSIAH T 226 WESTPORT RD WILTON CT 6897 $302,355.76
600072895 WELLMAN,DAVID J 9998 WEATHERLY COURT CINCINNATI OH 45252 $127,143.86
600072896 MARTIN,JOSEPH L 30924 LUND WARREN MI 48093 $126,844.89
600072898 FREUND,GARETH 1341 SIERRA ALTA WAY LOS ANGELE CA 90069 $248,924.07
600072899 JOHNSON,JOSEPH D 1230 SCRAMBLERS KNOB FRANKLIN TN 37069 $672,095.01
600072900 ECKHARDT,JOHN G 13220 WATSONVILLE ROA MORGAN HIL CA 95037 $326,358.56
600072901 STEFFEN,CRAIG O 1034 JANA DRIVE LAWRENCE KS 66048 $74,511.08
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072886 MILLER,CHARLES G 7.750 .250 7.500 .1550 7.345 02/01/2027
600072887 WIDDOES,JAMES L 7.750 .250 7.500 .1550 7.345 03/01/2027
600072888 PETRONE,NICHOLAS 7.750 .250 7.500 .1550 7.345 04/01/2027
600072889 RUNNING,OLAF T 7.750 .250 7.500 .1550 7.345 12/01/2026
600072890 BROWN,RONALD L 7.750 .250 7.500 .1550 7.345 12/01/2026
600072891 LYNCH,RAYMOND F 7.750 .250 7.500 .1550 7.345 11/01/2026
600072892 LEWIS,DONALD C 7.750 .250 7.500 .1550 7.345 10/01/2026
600072893 CARTERIII,JOSIAH T 7.750 .250 7.500 .1550 7.345 10/01/2026
600072895 WELLMAN,DAVID J 7.750 .250 7.500 .1550 7.345 04/01/2027
600072896 MARTIN,JOSEPH L 7.750 .250 7.500 .1550 7.345 04/01/2027
600072898 FREUND,GARETH 7.750 .250 7.500 .1550 7.345 03/01/2027
600072899 JOHNSON,JOSEPH D 7.750 .250 7.500 .1550 7.345 03/01/2027
600072900 ECKHARDT,JOHN G 7.750 .250 7.500 .1550 7.345 12/01/2026
600072901 STEFFEN,CRAIG O 7.750 .250 7.500 .1550 7.345 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072886 MILLER,CHARLES G 92417644 $2,851.32 09/01/1997 360
600072887 WIDDOES,JAMES L 92416835 $5,802.94 09/01/1997 360
600072888 PETRONE,NICHOLAS 92413864 $4,656.68 09/01/1997 360
600072889 RUNNING,OLAF T 92410795 $3,737.52 09/01/1997 360
600072890 BROWN,RONALD L 92410382 $1,719.39 09/01/1997 360
600072891 LYNCH,RAYMOND F 92401216 $3,252.51 09/01/1997 360
600072892 LEWIS,DONALD C 92401060 $1,855.51 09/01/1997 360
600072893 CARTERIII,JOSIAH T 92400979 $2,183.62 09/01/1997 360
600072895 WELLMAN,DAVID J 92429304 $914.14 09/01/1997 360
600072896 MARTIN,JOSEPH L 92419417 $912.00 2 09/01/1997 360
600072898 FREUND,GARETH 92418460 $1,791.03 09/01/1997 360
600072899 JOHNSON,JOSEPH D 92417940 $4,835.78 09/01/1997 360
600072900 ECKHARDT,JOHN G 92416885 $2,353.42 2 09/01/1997 360
600072901 STEFFEN,CRAIG O 92416879 $537.31 2 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072886 MILLER,CHARLES G 2.00 2.75 12.75 2.750 2.500 2.345 $630,000.00 N
600072887 WIDDOES,JAMES L 2.00 2.75 12.75 2.750 2.500 2.345 $1,175,000.00 N
600072888 PETRONE,NICHOLAS 2.00 2.75 12.75 2.750 2.500 2.345 $1,100,000.00 N
600072889 RUNNING,OLAF T 2.00 2.75 12.75 2.750 2.500 2.345 $730,000.00 N
600072890 BROWN,RONALD L 2.00 2.75 12.75 2.750 2.500 2.345 $315,000.00 N
600072891 LYNCH,RAYMOND F 2.00 2.75 12.75 2.750 2.500 2.345 $600,000.00 N
600072892 LEWIS,DONALD C 2.00 2.75 12.75 2.750 2.500 2.345 $323,750.00 N
600072893 CARTERIII,JOSIAH T 2.00 2.75 12.75 2.750 2.500 2.345 $381,000.00 N
600072895 WELLMAN,DAVID J 2.00 2.75 12.75 2.750 2.500 2.345 $159,500.00 N
600072896 MARTIN,JOSEPH L 2.00 2.75 12.75 2.750 2.500 2.345 $134,000.00 N
600072898 FREUND,GARETH 2.00 2.75 12.75 2.750 2.500 2.345 $585,000.00 N
600072899 JOHNSON,JOSEPH D 2.00 2.75 12.75 2.750 2.500 2.345 $1,200,000.00 N
600072900 ECKHARDT,JOHN G 2.00 2.75 12.75 2.750 2.500 2.345 $365,000.00 N
600072901 STEFFEN,CRAIG O 2.00 2.75 12.75 2.750 2.500 2.345 $82,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 76
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072902 OLMSTEADJR,LOWELL E 108 N RIVER DRIVE WES JUPITER FL 33458 $298,044.36
600072903 MCCLELLAND,JULIE G 210 CYPRESS PEKIN IL 61554 $37,652.94
600072904 HILL,BRAD D 5800 S KEARNY STREET GREENWOOD CO 80111 $235,455.02
600072905 SIPHER,JOSEPH K 1662 MANITOBA DRIVE SUNNYVALE CA 94087 $248,370.32
600072906 EAKLEYJR,NORMAN E 5N268 FOXMOOR DRIVE ST. CHARLE IL 60175 $273,207.40
600072907 DHONDT,CHRISTIAN 5830 MEADERS LANE DALLAS TX 75230 $307,747.35
600072908 JACKSON,WILLIAM B 1567 TIFFANY DRIVE PITTSBURGH PA 15241 $158,957.01
600072909 KING,DENNIS 12602 CHEVERLY COURT SARATOGA CA 95070 $524,163.19
600072910 BULLER,TIMOTHY J 12 STONEWALL IRVINE CA 92720 $229,124.61
600072911 MCFARLAND,CHARLES W 5425 E CHERYL DRIVE SCOTTSDALE AZ 85253 $248,183.34
600072912 VANBUSKIRK,MICHAEL A 18653 VESSING ROAD SARATOGA CA 95070 $764,980.65
600072913 ROXAS,OSMUNDO S 1755 CANTERBURY LANE HAYWARD CA 94544 $216,277.79
600072914 KOTCHOU,KEITH V 218 IVYWOOD DRIVE WALNUT CRE CA 94598 $218,731.73
600072915 CELIKEL,SERKIS 23721 HARBOR VISTA DR MALIBU CA 90265 $486,070.53
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072902 OLMSTEADJR,LOWELL E 7.750 .250 7.500 .1550 7.345 12/01/2026
600072903 MCCLELLAND,JULIE G 7.750 .250 7.500 .1550 7.345 12/01/2026
600072904 HILL,BRAD D 7.750 .250 7.500 .1550 7.345 12/01/2026
600072905 SIPHER,JOSEPH K 7.750 .250 7.500 .1550 7.345 12/01/2026
600072906 EAKLEYJR,NORMAN E 7.750 .250 7.500 .1550 7.345 12/01/2026
600072907 DHONDT,CHRISTIAN 7.750 .250 7.500 .1550 7.345 11/01/2026
600072908 JACKSON,WILLIAM B 7.750 .250 7.500 .1550 7.345 12/01/2026
600072909 KING,DENNIS 7.750 .250 7.500 .1550 7.345 11/01/2026
600072910 BULLER,TIMOTHY J 7.750 .250 7.500 .1550 7.345 11/01/2026
600072911 MCFARLAND,CHARLES W 7.750 .250 7.500 .1550 7.345 11/01/2026
600072912 VANBUSKIRK,MICHAEL A 7.750 .250 7.500 .1550 7.345 12/01/2026
600072913 ROXAS,OSMUNDO S 7.750 .250 7.500 .1550 7.345 12/01/2026
600072914 KOTCHOU,KEITH V 7.750 .250 7.500 .1550 7.345 10/01/2026
600072915 CELIKEL,SERKIS 7.750 .250 7.500 .1550 7.345 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072902 OLMSTEADJR,LOWELL E 92416624 $2,149.24 09/01/1997 360
600072903 MCCLELLAND,JULIE G 92411369 $271.52 09/01/1997 360
600072904 HILL,BRAD D 92409908 $1,697.90 09/01/1997 360
600072905 SIPHER,JOSEPH K 92408908 $1,791.03 09/01/1997 360
600072906 EAKLEYJR,NORMAN E 92407315 $1,970.13 09/01/1997 360
600072907 DHONDT,CHRISTIAN 92407095 $2,220.88 09/01/1997 360
600072908 JACKSON,WILLIAM B 92406777 $1,146.26 09/01/1997 360
600072909 KING,DENNIS 92406643 $3,782.66 09/01/1997 360
600072910 BULLER,TIMOTHY J 92406562 $1,669.96 2 09/01/1997 360
600072911 MCFARLAND,CHARLES W 92406465 $1,791.03 09/01/1997 360
600072912 VANBUSKIRK,MICHAEL A 92406418 $5,516.37 09/01/1997 360
600072913 ROXAS,OSMUNDO S 92404491 $1,559.63 19 09/01/1997 360
600072914 KOTCHOU,KEITH V 92403862 $1,579.69 19 09/01/1997 360
600072915 CELIKEL,SERKIS 92403581 $3,510.42 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072902 OLMSTEADJR,LOWELL E 2.00 2.75 12.75 2.750 2.500 2.345 $385,000.00 N
600072903 MCCLELLAND,JULIE G 2.00 2.75 12.75 2.750 2.500 2.345 $72,913.56 N
600072904 HILL,BRAD D 2.00 2.75 12.75 2.750 2.500 2.345 $340,000.00 N
600072905 SIPHER,JOSEPH K 2.00 2.75 12.75 2.750 2.500 2.345 $525,000.00 N
600072906 EAKLEYJR,NORMAN E 2.00 2.75 12.75 2.750 2.500 2.345 $370,000.00 N
600072907 DHONDT,CHRISTIAN 2.00 2.75 12.75 2.750 2.500 2.345 $445,000.00 N
600072908 JACKSON,WILLIAM B 2.00 2.75 12.75 2.750 2.500 2.345 $225,000.00 N
600072909 KING,DENNIS 2.00 2.75 12.75 2.750 2.500 2.345 $660,000.00 N
600072910 BULLER,TIMOTHY J 2.00 2.75 12.75 2.750 2.500 2.345 $259,000.00 N
600072911 MCFARLAND,CHARLES W 2.00 2.75 12.75 2.750 2.500 2.345 $415,000.00 N
600072912 VANBUSKIRK,MICHAEL A 2.00 2.75 12.75 2.750 2.500 2.345 $1,175,000.00 N
600072913 ROXAS,OSMUNDO S 2.00 2.75 12.75 2.750 2.500 2.345 $241,900.00 N
600072914 KOTCHOU,KEITH V 2.00 2.75 12.75 2.750 2.500 2.345 $245,000.00 N
600072915 CELIKEL,SERKIS 2.00 2.75 12.75 2.750 2.500 2.345 $700,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 77
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072916 LIEBERMAN,BARRY 26637 BRENTWOOD DRIVE LAKE ARROW CA 92352 $212,035.77
600072917 MARSLAND,TIMOTHY 348 GRANELLI AVENUE HALF MOON CA 94019 $370,072.78
600072918 MACAK,DEBRA M 7190 BOYD AVENUE CORONA ARE CA 91719 $213,744.48
600072919 SMITH,DON C 251 ADAMS STREET DENVER CO 80206 $249,979.12
600072920 LABRIE,DYLAN 17 GLEN AVENUE NORWALK CT 6851 $247,747.16
600072921 CLARK,NORMAN K 611 BAIR ROAD BERWYN PA 19312 $278,002.54
600072923 WEISS,EDWARD J WARD LANE - A/K/A 15 TOWN OF NE CT 6840 $443,117.81
600072928 BECKER,BARRY M 9459 CHAUCERS COURT BRENTWOOD TN 37027 $473,450.14
600072934 KNEPPER,JOHN R 142 SALT MARSH COTT HILTON HEA SC 29925 $89,350.93
600072935 GOEHLER,RICHARD M 6333 TRAILRIDGE COUR LOVELAND OH 45140 $263,266.10
600072936 POPPLEWELL,DAVID H 8387 DEERPATH DRIVE WEST CHEST OH 45069 $323,099.30
600072937 FREEMAN,RICHARD J 428 WOODLAND ROAD EDGEWORTH PA 15143 $362,988.10
600072938 WARD,KEVIN K 213 CAMBRIDGE AVENU CINCINNATI OH 45174 $323,866.88
600072939 TOLER,PAUL W 26 WEEBETOOK LANE CINCINNATI OH 45208 $388,175.60
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072916 LIEBERMAN,BARRY 7.750 .250 7.500 .1550 7.345 10/01/2026
600072917 MARSLAND,TIMOTHY 7.750 .250 7.500 .1550 7.345 10/01/2026
600072918 MACAK,DEBRA M 7.750 .250 7.500 .1550 7.345 10/01/2026
600072919 SMITH,DON C 7.750 .250 7.500 .1550 7.345 10/01/2026
600072920 LABRIE,DYLAN 7.750 .250 7.500 .1550 7.345 10/01/2026
600072921 CLARK,NORMAN K 7.750 .250 7.500 .1550 7.345 10/01/2026
600072923 WEISS,EDWARD J 7.750 .250 7.500 .1550 7.345 10/01/2026
600072928 BECKER,BARRY M 7.750 .250 7.500 .1550 7.345 10/01/2026
600072934 KNEPPER,JOHN R 7.875 .250 7.625 .1550 7.470 05/01/2027
600072935 GOEHLER,RICHARD M 7.875 .250 7.625 .1550 7.470 05/01/2027
600072936 POPPLEWELL,DAVID H 7.875 .250 7.625 .1550 7.470 05/01/2027
600072937 FREEMAN,RICHARD J 7.875 .250 7.625 .1550 7.470 05/01/2027
600072938 WARD,KEVIN K 7.875 .250 7.625 .1550 7.470 04/01/2027
600072939 TOLER,PAUL W 7.875 .250 7.625 .1550 7.470 05/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072916 LIEBERMAN,BARRY 92403149 $1,531.34 09/01/1997 360
600072917 MARSLAND,TIMOTHY 92403117 $2,708.04 09/01/1997 360
600072918 MACAK,DEBRA M 92402927 $1,546.74 14 09/01/1997 360
600072919 SMITH,DON C 92402257 $1,805.36 09/01/1997 360
600072920 LABRIE,DYLAN 91896705 $1,789.24 19 09/01/1997 360
600072921 CLARK,NORMAN K 91896119 $2,007.75 14 09/01/1997 360
600072923 WEISS,EDWARD J 91894881 $3,200.21 19 09/01/1997 360
600072928 BECKER,BARRY M 91881968 $3,420.51 09/01/1997 360
600072934 KNEPPER,JOHN R 92430582 $649.66 09/01/1997 360
600072935 GOEHLER,RICHARD M 92430149 $1,914.18 09/01/1997 360
600072936 POPPLEWELL,DAVID H 92429718 $2,349.22 09/01/1997 360
600072937 FREEMAN,RICHARD J 92428943 $2,639.25 09/01/1997 360
600072938 WARD,KEVIN K 92428087 $2,356.48 09/01/1997 360
600072939 TOLER,PAUL W 92426645 $2,849.52 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072916 LIEBERMAN,BARRY 2.00 2.75 12.75 2.750 2.500 2.345 $285,000.00 N
600072917 MARSLAND,TIMOTHY 2.00 2.75 12.75 2.750 2.500 2.345 $477,500.00 N
600072918 MACAK,DEBRA M 2.00 2.75 12.75 2.750 2.500 2.345 $239,900.00 N
600072919 SMITH,DON C 2.00 2.75 12.75 2.750 2.500 2.345 $315,000.00 N
600072920 LABRIE,DYLAN 2.00 2.75 12.75 2.750 2.500 2.345 $277,500.00 N
600072921 CLARK,NORMAN K 2.00 2.75 12.75 2.750 2.500 2.345 $295,000.00 N
600072923 WEISS,EDWARD J 2.00 2.75 12.75 2.750 2.500 2.345 $513,500.00 N
600072928 BECKER,BARRY M 2.00 2.75 12.75 2.750 2.500 2.345 $596,833.43 N
600072934 KNEPPER,JOHN R 2.00 2.75 12.88 2.750 2.500 2.345 $112,000.00 N
600072935 GOEHLER,RICHARD M 2.00 2.75 12.88 2.750 2.500 2.345 $330,000.00 N
600072936 POPPLEWELL,DAVID H 2.00 2.75 12.88 2.750 2.500 2.345 $405,000.00 N
600072937 FREEMAN,RICHARD J 2.00 2.75 12.38 2.750 2.500 2.345 $455,000.00 N
600072938 WARD,KEVIN K 2.00 2.75 12.88 2.750 2.500 2.345 $470,000.00 N
600072939 TOLER,PAUL W 2.00 2.75 12.88 2.750 2.500 2.345 $780,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 78
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072940 SCHIMBERG,LEE 3259 GLENDORA AVENUE CINCINNATI OH 45220 $58,194.77
600072941 COHEN,RICHARD L 3101 BOARDWALK - UNI CITY OF AT NJ 8401 $231,544.11
600072942 MENARD,MICHAEL J 2648 ASH MILL RD HOLICONG PA 18928 $548,082.47
600072943 DAVIES,MATTHEW F 126 JAVA AVENUE HERSHEY PA 17033 $187,355.46
600072944 LOVETT,WILLIAM B 5551 KIRBY AVENUE CINCINNATI OH 45239 $98,307.03
600072945 SULLIVANJR,JOHN R 25051 MAMMOTH CIRCLE LAKE FORES CA 92630 $226,383.73
600072946 DEMATTIES,MURRAY G 1685 MERRILL DRIVE SAN JOSE CA 95124 $222,372.36
600072947 VAZQUEZ,FRANK 1047 ARDILLA PLACE CHULA VIST CA 91910 $231,348.21
600072948 FATTORUSO,D L 72651 HOMESTEAD ROAD PALM DESER CA 92260 $250,176.65
600072952 ESCOLL,ANDREW J 5 WINTHROP ST WINCHESTER MA 1890 $347,260.79
600072956 STEINBERG,ABRAHAM 800 PALISADES AVENU FORT LEE NJ 7024 $523,540.51
600072957 MUNRO,JAMES S 15201 MCKENDREE AVENU PACIFIC PA CA 90272 $445,322.63
600072958 GROSHONG,DIANE L 9159 NEWHALL DRIVE SACRAMENTO CA 95826 $59,733.46
600072959 TIAMSONJR,ROSS A 1036 S MOUNTCREST COUR ANAHEIM CA 92808 $279,023.82
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072940 SCHIMBERG,LEE 7.875 .250 7.625 .1550 7.470 04/01/2027
600072941 COHEN,RICHARD L 7.875 .250 7.625 .1550 7.470 03/01/2027
600072942 MENARD,MICHAEL J 7.875 .250 7.625 .1550 7.470 04/01/2027
600072943 DAVIES,MATTHEW F 7.875 .250 7.625 .1550 7.470 03/01/2027
600072944 LOVETT,WILLIAM B 7.875 .250 7.625 .1550 7.470 02/01/2027
600072945 SULLIVANJR,JOHN R 7.875 .250 7.625 .1550 7.470 11/01/2026
600072946 DEMATTIES,MURRAY G 7.875 .250 7.625 .1550 7.470 11/01/2026
600072947 VAZQUEZ,FRANK 7.875 .250 7.625 .1550 7.470 11/01/2026
600072948 FATTORUSO,D L 7.875 .250 7.625 .1550 7.470 11/01/2026
600072952 ESCOLL,ANDREW J 7.875 .250 7.625 .1550 7.470 10/01/2026
600072956 STEINBERG,ABRAHAM 7.875 .250 7.625 .1550 7.470 05/01/2027
600072957 MUNRO,JAMES S 7.875 .250 7.625 .1550 7.470 06/01/2027
600072958 GROSHONG,DIANE L 7.875 .250 7.625 .1550 7.470 05/01/2027
600072959 TIAMSONJR,ROSS A 7.875 .250 7.625 .1550 7.470 04/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072940 SCHIMBERG,LEE 92426281 $435.04 09/01/1997 360
600072941 COHEN,RICHARD L 92422940 $2,175.21 09/01/1997 360
600072942 MENARD,MICHAEL J 92421635 $3,987.88 09/01/1997 360
600072943 DAVIES,MATTHEW F 92419762 $1,370.38 19 09/01/1997 360
600072944 LOVETT,WILLIAM B 92417847 $716.37 09/01/1997 360
600072945 SULLIVANJR,JOHN R 92408445 $1,653.16 09/01/1997 360
600072946 DEMATTIES,MURRAY G 92408183 $1,623.87 09/01/1997 360
600072947 VAZQUEZ,FRANK 92408022 $1,689.42 14 09/01/1997 360
600072948 FATTORUSO,D L 92407868 $1,830.80 09/01/1997 360
600072952 ESCOLL,ANDREW J 91897749 $2,537.74 09/01/1997 360
600072956 STEINBERG,ABRAHAM 92429360 $3,806.61 09/01/1997 360
600072957 MUNRO,JAMES S 92428696 $3,235.62 09/01/1997 360
600072958 GROSHONG,DIANE L 92426681 $434.32 09/01/1997 360
600072959 TIAMSONJR,ROSS A 92426220 $2,030.19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072940 SCHIMBERG,LEE 2.00 2.75 12.88 2.750 2.500 2.345 $78,000.00 N
600072941 COHEN,RICHARD L 2.00 2.75 12.88 2.750 2.500 2.345 $435,000.00 N
600072942 MENARD,MICHAEL J 2.00 2.75 12.88 2.750 2.500 2.345 $890,000.00 N
600072943 DAVIES,MATTHEW F 2.00 2.75 12.88 2.750 2.500 2.345 $210,000.00 N
600072944 LOVETT,WILLIAM B 2.00 2.75 12.88 2.750 2.500 2.345 $123,500.00 N
600072945 SULLIVANJR,JOHN R 2.00 2.75 12.88 2.750 2.500 2.345 $285,000.00 N
600072946 DEMATTIES,MURRAY G 2.00 2.75 12.88 2.750 2.500 2.345 $279,950.00 N
600072947 VAZQUEZ,FRANK 2.00 2.75 12.88 2.750 2.500 2.345 $245,282.00 N
600072948 FATTORUSO,D L 2.00 2.75 12.88 2.750 2.500 2.345 $330,000.00 N
600072952 ESCOLL,ANDREW J 2.00 2.75 12.88 2.750 2.500 2.345 $547,500.00 N
600072956 STEINBERG,ABRAHAM 2.00 2.75 12.88 2.750 2.500 2.345 $725,000.00 N
600072957 MUNRO,JAMES S 2.00 2.75 12.88 2.750 2.500 2.345 $595,000.00 N
600072958 GROSHONG,DIANE L 2.00 2.75 12.88 2.750 2.500 2.345 $77,000.00 N
600072959 TIAMSONJR,ROSS A 2.00 2.75 12.88 2.750 2.500 2.345 $350,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 79
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072961 BUELL,JANE E 1494 BUCKINGHAM ROAD BIRMINGHAM MI 48009 $298,954.07
600072962 HOON,PHILIP A 551 ROCKY RIDGE RD. TAHOE CITY CA 96145 $190,583.19
600072963 YENI,SHIRLEY H 2801 APPALOOSA COURT PINOLE CA 94564 $224,491.55
600072964 HEIDE,JORGEN 3017 E ST. MARYS CIRCL SALT LAKE UT 84108 $350,772.80
600072966 LEPPO,CARL R 16 QUARRY LANE NORTH EAST MA 2356 $249,249.36
600072967 SANTANGELO,JOSEPH G 7 DOE'S LANE WILMINGTON DE 19807 $418,237.05
600072968 CORTESE,ROBERT P 12487 LONGVIEW DRIVE NORTH HUNT PA 15642 $61,540.61
600072969 FELDMAN,DAVID ONE CENTRAL PARK WE NEW YORK NY 10023 $275,012.84
600072970 YOSELOFF,MARK L 1900 GREY EAGLE STRE HENDERSON NV 89014 $388,362.98
600072971 CONNOR,JAMES 42W016 HUNTERS HILL ST. CHARLE IL 60175 $228,853.82
600072972 DAVENPORT,MARK A 804 CHERRY LAUREL C NASHVILLE TN 37215 $259,008.21
600072973 BARBER,MALCOLM T 824 W 20TH STREET UPLAND CA 91784 $228,180.97
600072974 KALMAN,R D 15 FARMSTEAD DRIVE SHELBURNE VT 5482 $275,339.37
600072975 KOZARSKY,NEIL 308 OLIPHANT LANE MOUNT LAUR NJ 8054 $98,314.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072961 BUELL,JANE E 7.875 .250 7.625 .1550 7.470 04/01/2027
600072962 HOON,PHILIP A 7.875 .250 7.625 .1550 7.470 04/01/2027
600072963 YENI,SHIRLEY H 7.875 .250 7.625 .1550 7.470 02/01/2027
600072964 HEIDE,JORGEN 7.875 .250 7.625 .1550 7.470 04/01/2027
600072966 LEPPO,CARL R 7.875 .250 7.625 .1550 7.470 03/01/2027
600072967 SANTANGELO,JOSEPH G 7.875 .250 7.625 .1550 7.470 03/01/2027
600072968 CORTESE,ROBERT P 7.875 .250 7.625 .1550 7.470 03/01/2027
600072969 FELDMAN,DAVID 7.875 .250 7.625 .1550 7.470 04/01/2027
600072970 YOSELOFF,MARK L 7.875 .250 7.625 .1550 7.470 03/01/2027
600072971 CONNOR,JAMES 7.875 .250 7.625 .1550 7.470 02/01/2027
600072972 DAVENPORT,MARK A 7.875 .250 7.625 .1550 7.470 03/01/2027
600072973 BARBER,MALCOLM T 7.875 .250 7.625 .1550 7.470 04/01/2027
600072974 KALMAN,R D 7.875 .250 7.625 .1550 7.470 03/01/2027
600072975 KOZARSKY,NEIL 7.875 .250 7.625 .1550 7.470 02/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072961 BUELL,JANE E 92425724 $2,175.21 09/01/1997 360
600072962 HOON,PHILIP A 92425575 $1,386.70 09/01/1997 360
600072963 YENI,SHIRLEY H 92423878 $1,635.76 09/01/1997 360
600072964 HEIDE,JORGEN 92423377 $2,552.24 09/01/1997 360
600072966 LEPPO,CARL R 92422299 $1,814.85 09/01/1997 360
600072967 SANTANGELO,JOSEPH G 92421493 $3,045.29 09/01/1997 360
600072968 CORTESE,ROBERT P 92421295 $448.09 09/01/1997 360
600072969 FELDMAN,DAVID 92420906 $2,001.01 09/01/1997 360
600072970 YOSELOFF,MARK L 92420604 $2,827.77 09/01/1997 360
600072971 CONNOR,JAMES 92420537 $1,667.66 09/01/1997 360
600072972 DAVENPORT,MARK A 92420443 $1,885.91 19 09/01/1997 360
600072973 BARBER,MALCOLM T 92420099 $1,660.41 09/01/1997 360
600072974 KALMAN,R D 92420049 $2,004.82 09/01/1997 360
600072975 KOZARSKY,NEIL 92419826 $716.37 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072961 BUELL,JANE E 2.00 2.75 12.88 2.750 2.500 2.345 $415,000.00 N
600072962 HOON,PHILIP A 2.00 2.75 12.88 2.750 2.500 2.345 $285,000.00 N
600072963 YENI,SHIRLEY H 2.00 2.75 12.88 2.750 2.500 2.345 $282,000.00 N
600072964 HEIDE,JORGEN 2.00 2.75 12.88 2.750 2.500 2.345 $440,000.00 N
600072966 LEPPO,CARL R 2.00 2.75 12.88 2.750 2.500 2.345 $312,900.00 N
600072967 SANTANGELO,JOSEPH G 2.00 2.75 12.88 2.750 2.500 2.345 $621,000.00 N
600072968 CORTESE,ROBERT P 2.00 2.75 12.88 2.750 2.500 2.345 $143,000.00 N
600072969 FELDMAN,DAVID 2.00 2.75 12.88 2.750 2.500 2.345 $420,000.00 N
600072970 YOSELOFF,MARK L 2.00 2.75 12.88 2.750 2.500 2.345 $490,000.00 N
600072971 CONNOR,JAMES 2.00 2.75 12.88 2.750 2.500 2.345 $300,000.00 N
600072972 DAVENPORT,MARK A 2.00 2.75 12.88 2.750 2.500 2.345 $289,000.00 N
600072973 BARBER,MALCOLM T 2.00 2.75 12.88 2.750 2.500 2.345 $300,000.00 N
600072974 KALMAN,R D 2.00 2.75 12.88 2.750 2.500 2.345 $360,000.00 N
600072975 KOZARSKY,NEIL 2.00 2.75 12.88 2.750 2.500 2.345 $123,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 80
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072976 KATZ,STEVEN L 46 BUTTONWOOD FARM WEST TISBU MA 2575 $278,619.88
600072977 SCHWARTZ,CHARLES H 2210 VERSAILLES COUR HENDERSON NV 89014 $441,818.50
600072978 LOFGREN,CHRISTOPHER 126 BELVEDERE DRIVE MILL VALLE CA 94941 $317,860.18
600072979 BOYD,MICHAEL 2701 WILD HOLLY ROAD ANNAPOLIS MD 21403 $492,567.97
600072980 UNIT 16 OF CONSTELLA BOSTON MA 2129 $364,932.47
600072981 KERN,RICHARD S 4226 VERDIGRIS CIRCL SAN JOSE CA 95134 $258,644.75
600072982 DECLARIS,WADE N 145 VAN WINKLE DRIV SAN ANSELM CA 94960 $496,820.55
600072983 O'CONNELL,JOHN B 2959 CHESTNUT RUN DR BLOOMFIELD MI 48302 $589,091.31
600072984 MUNSE,SCOTT R 3504 LAKEBROOK DRIVE PLANO TX 75093 $319,175.75
600072985 DRAZAN,ANTHONY P 308 N SYCAMORE AVENUE LOS ANGELE CA 90036 $377,583.59
600072986 HUACO,MICHAEL J 989 GROSVENOR PLACE OAKLAND CA 94610 $331,876.17
600072987 SKRZYNIARZ,WILLIAM J 2891 NICHOLS CANYON LOS ANGELE CA 90046 $370,727.55
600072988 NICHOLS,D J 3865 FOREST HILL AVE OAKLAND CA 94602 $221,617.84
600072989 RYAN,ANTHONY W 34 CABOT STREET WINCHESTER MA 1890 $554,903.41
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072976 KATZ,STEVEN L 7.875 .250 7.625 .1550 7.470 04/01/2027
600072977 SCHWARTZ,CHARLES H 7.875 .250 7.625 .1550 7.470 02/01/2027
600072978 LOFGREN,CHRISTOPHER 7.875 .250 7.625 .1550 7.470 03/01/2027
600072979 BOYD,MICHAEL 7.875 .250 7.625 .1550 7.470 02/01/2027
600072980 7.875 .250 7.625 .1550 7.470 01/01/2027
600072981 KERN,RICHARD S 7.875 .250 7.625 .1550 7.470 12/01/2026
600072982 DECLARIS,WADE N 7.875 .250 7.625 .1550 7.470 12/01/2026
600072983 O'CONNELL,JOHN B 7.875 .250 7.625 .1550 7.470 02/01/2027
600072984 MUNSE,SCOTT R 7.875 .250 7.625 .1550 7.470 12/01/2026
600072985 DRAZAN,ANTHONY P 7.875 .250 7.625 .1550 7.470 12/01/2026
600072986 HUACO,MICHAEL J 7.875 .250 7.625 .1550 7.470 12/01/2026
600072987 SKRZYNIARZ,WILLIAM J 7.875 .250 7.625 .1550 7.470 12/01/2026
600072988 NICHOLS,D J 7.875 .250 7.625 .1550 7.470 11/01/2026
600072989 RYAN,ANTHONY W 7.875 .250 7.625 .1550 7.470 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072976 KATZ,STEVEN L 92419743 $2,030.19 09/01/1997 360
600072977 SCHWARTZ,CHARLES H 92419578 $3,219.31 09/01/1997 360
600072978 LOFGREN,CHRISTOPHER 92419252 $2,314.42 09/01/1997 360
600072979 BOYD,MICHAEL 92417756 $3,589.09 09/01/1997 360
600072980 92413639 $2,661.00 09/01/1997 360
600072981 KERN,RICHARD S 92410442 $1,887.36 09/01/1997 360
600072982 DECLARIS,WADE N 92409984 $3,625.35 09/01/1997 360
600072983 O'CONNELL,JOHN B 92409883 $4,292.42 09/01/1997 360
600072984 MUNSE,SCOTT R 92409880 $2,498.96 09/01/1997 360
600072985 DRAZAN,ANTHONY P 92409833 $2,755.27 09/01/1997 360
600072986 HUACO,MICHAEL J 92409567 $2,421.73 09/01/1997 360
600072987 SKRZYNIARZ,WILLIAM J 92409524 $2,705.23 09/01/1997 360
600072988 NICHOLS,D J 92409383 $1,618.35 14 09/01/1997 360
600072989 RYAN,ANTHONY W 92409380 $4,049.52 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072976 KATZ,STEVEN L 2.00 2.75 12.88 2.750 2.500 2.345 $350,000.00 N
600072977 SCHWARTZ,CHARLES H 2.00 2.75 12.88 2.750 2.500 2.345 $555,000.00 N
600072978 LOFGREN,CHRISTOPHER 2.00 2.75 12.88 2.750 2.500 2.345 $399,000.00 N
600072979 BOYD,MICHAEL 2.00 2.75 12.88 2.750 2.500 2.345 $635,000.00 N
600072980 2.00 2.75 12.88 2.750 2.500 2.345 $560,000.00 N
600072981 KERN,RICHARD S 2.00 2.75 12.88 2.750 2.500 2.345 $325,418.00 N
600072982 DECLARIS,WADE N 2.00 2.75 12.88 2.750 2.500 2.345 $627,000.00 N
600072983 O'CONNELL,JOHN B 2.00 2.75 12.88 2.750 2.500 2.345 $740,000.00 N
600072984 MUNSE,SCOTT R 2.00 2.75 12.88 2.750 2.500 2.345 $480,000.00 N
600072985 DRAZAN,ANTHONY P 2.00 2.75 12.88 2.750 2.500 2.345 $475,000.00 N
600072986 HUACO,MICHAEL J 2.00 2.75 12.88 2.750 2.500 2.345 $420,000.00 N
600072987 SKRZYNIARZ,WILLIAM J 2.00 2.75 12.88 2.750 2.500 2.345 $470,000.00 N
600072988 NICHOLS,D J 2.00 2.75 12.88 2.750 2.500 2.345 $248,000.00 N
600072989 RYAN,ANTHONY W 2.00 2.75 12.88 2.750 2.500 2.345 $700,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 81
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600072990 COOK,VALERIE J 1792 ST. ANDREWS DRI MORAGA CA 94556 $258,156.92
600072991 SANELLI,LARRY D 22100 N DOBSON ROAD SCOTTSDALE AZ 85255 $290,322.66
600072992 KERR,TIMOTHY E 227-27 TH STREET CONDO BOROUGH OF NJ 8202 $206,677.40
600072993 WELCH,LISA G 6152 COBBS ROAD ALEXANDRIA VA 22310 $302,788.27
600072994 HILBORN,MARK D 112 AUTUMN WAY VENETIA PA 15367 $281,399.14
600072995 LOFGREN,CAROLINE 551 MARION STREET DENVER CO 80218 $249,690.25
600072996 UNDERWOOD,BLAIR E 5682 HOLLY OAK DRIVE LOS ANGELE CA 90068 $625,534.04
600072997 DRYFOOS,GLENN A 1632 S SHENANDOAH STRE LOS ANGELE CA 90035 $229,006.17
600072998 SCHWAB,RONALD F 8558 HOLLYWOOD BLVD LOS ANGELE CA 90069 $308,696.12
600072999 KUCHIBHATLA,DILIP 3251 VINTAGE ACRES W SAN JOSE CA 95148 $345,451.68
600073000 S.AMMONS,REGINALD K 333 HOBART AVENUE SAN MATEO CA 94402 $285,056.75
600073001 MARTIN,LINDA B 2202 N AZALEA DRIVE ORANGE CA 92867 $341,710.37
600073002 MILLER,J B 2216 DOUGLASS BLVD LOUISVILLE KY 40205 $347,518.96
600073003 CRAMPJR.,JOHN F 532 MARTINS CORNER COATESVILL PA 19320 $142,979.23
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600072990 COOK,VALERIE J 7.875 .250 7.625 .1550 7.470 11/01/2026
600072991 SANELLI,LARRY D 7.875 .250 7.625 .1550 7.470 11/01/2026
600072992 KERR,TIMOTHY E 7.875 .250 7.625 .1550 7.470 12/01/2026
600072993 WELCH,LISA G 7.875 .250 7.625 .1550 7.470 11/01/2026
600072994 HILBORN,MARK D 7.875 .250 7.625 .1550 7.470 12/01/2026
600072995 LOFGREN,CAROLINE 7.875 .250 7.625 .1550 7.470 11/01/2026
600072996 UNDERWOOD,BLAIR E 7.875 .250 7.625 .1550 7.470 11/01/2026
600072997 DRYFOOS,GLENN A 7.875 .250 7.625 .1550 7.470 11/01/2026
600072998 SCHWAB,RONALD F 7.875 .250 7.625 .1550 7.470 11/01/2026
600072999 KUCHIBHATLA,DILIP 7.875 .250 7.625 .1550 7.470 11/01/2026
600073000 S.AMMONS,REGINALD K 7.875 .250 7.625 .1550 7.470 11/01/2026
600073001 MARTIN,LINDA B 7.875 .250 7.625 .1550 7.470 11/01/2026
600073002 MILLER,J B 7.875 .250 7.625 .1550 7.470 11/01/2026
600073003 CRAMPJR.,JOHN F 7.875 .250 7.625 .1550 7.470 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600072990 COOK,VALERIE J 92409362 $1,885.18 09/01/1997 360
600072991 SANELLI,LARRY D 92409121 $2,123.01 09/01/1997 360
600072992 KERR,TIMOTHY E 92409065 $1,508.14 09/01/1997 360
600072993 WELCH,LISA G 92408852 $2,211.10 14 09/01/1997 360
600072994 HILBORN,MARK D 92408280 $2,053.40 09/01/1997 360
600072995 LOFGREN,CAROLINE 92408061 $1,827.17 09/01/1997 360
600072996 UNDERWOOD,BLAIR E 92407652 $4,567.94 09/01/1997 360
600072997 DRYFOOS,GLENN A 92407525 $1,682.16 09/01/1997 360
600072998 SCHWAB,RONALD F 92407147 $2,254.24 09/01/1997 360
600072999 KUCHIBHATLA,DILIP 92407059 $2,523.24 09/01/1997 360
600073000 S.AMMONS,REGINALD K 92406732 $2,082.40 09/01/1997 360
600073001 MARTIN,LINDA B 92406561 $2,495.33 1 09/01/1997 360
600073002 MILLER,J B 92405475 $2,537.74 09/01/1997 360
600073003 CRAMPJR.,JOHN F 92405240 $1,044.10 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600072990 COOK,VALERIE J 2.00 2.75 12.88 2.750 2.500 2.345 $430,000.00 N
600072991 SANELLI,LARRY D 2.00 2.75 12.88 2.750 2.500 2.345 $580,000.00 N
600072992 KERR,TIMOTHY E 2.00 2.75 12.88 2.750 2.500 2.345 $260,000.00 N
600072993 WELCH,LISA G 2.00 2.75 12.88 2.750 2.500 2.345 $321,750.00 N
600072994 HILBORN,MARK D 2.00 2.75 12.88 2.750 2.500 2.345 $355,000.00 N
600072995 LOFGREN,CAROLINE 2.00 2.75 12.88 2.750 2.500 2.345 $315,000.00 N
600072996 UNDERWOOD,BLAIR E 2.00 2.75 12.88 2.750 2.500 2.345 $790,000.00 N
600072997 DRYFOOS,GLENN A 2.00 2.75 12.88 2.750 2.500 2.345 $290,000.00 N
600072998 SCHWAB,RONALD F 2.00 2.75 12.88 2.750 2.500 2.345 $410,000.00 N
600072999 KUCHIBHATLA,DILIP 2.00 2.75 12.88 2.750 2.500 2.345 $435,000.00 N
600073000 S.AMMONS,REGINALD K 2.00 2.75 12.88 2.750 2.500 2.345 $359,000.00 N
600073001 MARTIN,LINDA B 2.00 2.75 12.88 2.750 2.500 2.345 $383,000.00 N
600073002 MILLER,J B 2.00 2.75 12.88 2.750 2.500 2.345 $448,500.00 N
600073003 CRAMPJR.,JOHN F 2.00 2.75 12.88 2.750 2.500 2.345 $180,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 82
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073004 BLACKWELL,VERNE L PITTS ROAD HARRISON ME 4040 $322,696.10
600073005 PADGETT,DONALD L 4354 HAMILTON AVENUE CINCINNATI OH 45223 $124,362.12
600073006 DEMAIO,SUSAN 714 N BROADWAY WEST CAPE NJ 8204 $92,142.21
600073007 GANULIN,NEIL 23 ELMHURST PLACE CINCINNATI OH 45208 $373,058.38
600073008 MCCOOL,SUSAN J 101 MAPLE ST NORTHBORO MA 1532 $94,326.51
600073009 CATINO,THEODORE A 7031 OVERTON WAY MAINEVILLE OH 45039 $737,657.80
600073010 SNAWDER,CAROLYN M 404 WYNFIELD CLOSE LOUISVILLE KY 40206 $297,652.95
600073011 HINDMAN,STEVEN M 918 FERNGROVE DRIVE CUPERTINO CA 95014 $248,540.19
600073012 WILSONJR.,EDWIN P 200 NW14 AVENUE FT. LAUDER FL 33301 $243,263.24
600073013 RESETERJR.,JOHN J 6 SPRING HILL ROA FRANKLIN T NJ 8801 $249,058.94
600073014 MCCLUNG,MARGARET 520 GRANITE RD GUILFORD CT 6437 $206,525.58
600073016 SHAKESPEARE,SAMUEL W 2910 NW28TH TERRRACE BOCA RATON FL 33434 $293,901.69
600073017 YORK,KEVIN 3212 ALLAIRE ROAD WALL NJ 7719 $231,505.91
600073018 GASTINGERJR,JAMES W 11105 OAKHURST DRIVE LOUISVILLE KY 40245 $229,362.49
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073004 BLACKWELL,VERNE L 7.875 .250 7.625 .1550 7.470 11/01/2026
600073005 PADGETT,DONALD L 7.875 .250 7.625 .1550 7.470 11/01/2026
600073006 DEMAIO,SUSAN 7.875 .250 7.625 .1550 7.470 11/01/2026
600073007 GANULIN,NEIL 7.875 .250 7.625 .1550 7.470 10/01/2026
600073008 MCCOOL,SUSAN J 7.875 .250 7.625 .1550 7.470 11/01/2026
600073009 CATINO,THEODORE A 7.875 .250 7.625 .1550 7.470 02/01/2027
600073010 SNAWDER,CAROLYN M 7.875 .250 7.625 .1550 7.470 10/01/2026
600073011 HINDMAN,STEVEN M 7.875 .250 7.625 .1550 7.470 10/01/2026
600073012 WILSONJR.,EDWIN P 7.875 .250 7.625 .1550 7.470 11/01/2026
600073013 RESETERJR.,JOHN J 7.875 .250 7.625 .1550 7.470 01/01/2027
600073014 MCCLUNG,MARGARET 7.875 .250 7.625 .1550 7.470 11/01/2026
600073016 SHAKESPEARE,SAMUEL W 7.875 .250 7.625 .1550 7.470 11/01/2026
600073017 YORK,KEVIN 7.875 .250 7.625 .1550 7.470 11/01/2026
600073018 GASTINGERJR,JAMES W 7.875 .250 7.625 .1550 7.470 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073004 BLACKWELL,VERNE L 92404890 $2,356.48 09/01/1997 360
600073005 PADGETT,DONALD L 92404652 $908.15 09/01/1997 360
600073006 DEMAIO,SUSAN 92404640 $672.86 09/01/1997 360
600073007 GANULIN,NEIL 92404572 $2,726.26 09/01/1997 360
600073008 MCCOOL,SUSAN J 92404266 $688.82 19 09/01/1997 360
600073009 CATINO,THEODORE A 92403991 $5,374.94 09/01/1997 360
600073010 SNAWDER,CAROLYN M 92403908 $2,175.21 09/01/1997 360
600073011 HINDMAN,STEVEN M 92403454 $1,816.30 09/01/1997 360
600073012 WILSONJR.,EDWIN P 92403398 $1,776.42 09/01/1997 360
600073013 RESETERJR.,JOHN J 92402454 $1,816.08 09/01/1997 360
600073014 MCCLUNG,MARGARET 92402357 $1,508.14 09/01/1997 360
600073016 SHAKESPEARE,SAMUEL W 92402300 $2,146.21 09/01/1997 360
600073017 YORK,KEVIN 92401794 $1,696.66 09/01/1997 360
600073018 GASTINGERJR,JAMES W 92401700 $1,674.91 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073004 BLACKWELL,VERNE L 2.00 2.75 12.88 2.750 2.500 2.345 $475,000.00 N
600073005 PADGETT,DONALD L 2.00 2.75 12.88 2.750 2.500 2.345 $167,000.00 N
600073006 DEMAIO,SUSAN 2.00 2.75 12.88 2.750 2.500 2.345 $116,000.00 N
600073007 GANULIN,NEIL 2.00 2.75 12.88 2.750 2.500 2.345 $470,000.00 N
600073008 MCCOOL,SUSAN J 2.00 2.75 12.88 2.750 2.500 2.345 $100,000.00 N
600073009 CATINO,THEODORE A 2.00 2.75 12.88 2.750 2.500 2.345 $932,000.00 N
600073010 SNAWDER,CAROLYN M 2.00 2.75 12.88 2.750 2.500 2.345 $400,000.00 N
600073011 HINDMAN,STEVEN M 2.00 2.75 12.88 2.750 2.500 2.345 $334,000.00 N
600073012 WILSONJR.,EDWIN P 2.00 2.75 12.88 2.750 2.500 2.345 $350,000.00 N
600073013 RESETERJR.,JOHN J 2.00 2.75 12.88 2.750 2.500 2.345 $630,000.00 N
600073014 MCCLUNG,MARGARET 2.00 2.75 12.88 2.750 2.500 2.345 $262,000.00 N
600073016 SHAKESPEARE,SAMUEL W 2.00 2.75 12.88 2.750 2.500 2.345 $370,000.00 N
600073017 YORK,KEVIN 2.00 2.75 12.88 2.750 2.500 2.345 $292,500.00 N
600073018 GASTINGERJR,JAMES W 2.00 2.75 12.88 2.750 2.500 2.345 $316,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 83
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073019 MUSCHIANO,VICTOR D 220 POND STREET HOPKINTON MA 1748 $223,735.81
600073020 CONTE,JOSEPH 9 OLD FARM HILL R NEWTOWN CT 6470 $350,039.93
600073021 SOLEJR,CHARLES W 3608 HUMMER ROAD ANNANDALE VA 22003 $269,872.01
600073022 FORBES,KATHRYN A 5706 N CENTRAL AVENUE PHOENIX AZ 85012 $305,229.99
600073023 GLUTTING,ROBERT V 7352 GREAT WATERS LA WEST CHEST OH 45069 $299,166.00
600073024 BARKAUSKAS,JOSEPH E 14 STONEHOUSE RD. WHITEHOUSE NJ 8889 $248,227.85
600073025 GRESTY,DAVID B RR 1 MONTOURSVI PA 17754 $78,154.80
600073028 MCGOUGH,HUGH F 4342 CENTRE AVENUE PITTSBURGH PA 15213 $143,865.62
600073030 LEIS,ALBERT E 10906 PAW PAW LANE GOSHEN KY 40026 $322,457.31
600073032 FISCHER,TIMOTHY A 3507 AULTWOODS LANE CINCINNATI OH 45208 $124,022.03
600073047 BRACKIN,MARSHALL 4201 MARINER DRIVE OKLAHOMA C OK 73099 $78,932.33
600073050 PACE,ANN S 968 RIVA RIDGE UNION KY 41091 $297,652.95
600073051 ISAACSON,PETER A 217 WOOD STREET HOPKINGTON MA 1748 $103,935.54
600073066 COLLETTA,ANDREW M 9773 FARMSTEAD LOVELAND OH 45140 $336,943.72
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073019 MUSCHIANO,VICTOR D 7.875 .250 7.625 .1550 7.470 10/01/2026
600073020 CONTE,JOSEPH 7.875 .250 7.625 .1550 7.470 10/01/2026
600073021 SOLEJR,CHARLES W 7.875 .250 7.625 .1550 7.470 10/01/2026
600073022 FORBES,KATHRYN A 7.875 .250 7.625 .1550 7.470 10/01/2026
600073023 GLUTTING,ROBERT V 7.875 .250 7.625 .1550 7.470 05/01/2027
600073024 BARKAUSKAS,JOSEPH E 7.875 .250 7.625 .1550 7.470 11/01/2026
600073025 GRESTY,DAVID B 7.875 .250 7.625 .1550 7.470 10/01/2026
600073028 MCGOUGH,HUGH F 7.875 .250 7.625 .1550 7.470 10/01/2026
600073030 LEIS,ALBERT E 7.875 .250 7.625 .1550 7.470 10/01/2026
600073032 FISCHER,TIMOTHY A 7.875 .250 7.625 .1550 7.470 10/01/2026
600073047 BRACKIN,MARSHALL 7.875 .250 7.625 .1550 7.470 12/01/2026
600073050 PACE,ANN S 7.875 .250 7.625 .1550 7.470 10/01/2026
600073051 ISAACSON,PETER A 7.875 .250 7.625 .1550 7.470 10/01/2026
600073066 COLLETTA,ANDREW M 7.875 .250 7.625 .1550 7.470 12/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073019 MUSCHIANO,VICTOR D 92401381 $1,635.03 09/01/1997 360
600073020 CONTE,JOSEPH 92401223 $2,558.04 19 09/01/1997 360
600073021 SOLEJR,CHARLES W 92401052 $1,972.19 09/01/1997 360
600073022 FORBES,KATHRYN A 92400614 $2,251.35 2 09/01/1997 360
600073023 GLUTTING,ROBERT V 92400470 $2,175.21 09/01/1997 360
600073024 BARKAUSKAS,JOSEPH E 92400282 $1,812.67 19 09/01/1997 360
600073025 GRESTY,DAVID B 91898302 $574.25 09/01/1997 360
600073028 MCGOUGH,HUGH F 91897559 $1,051.35 09/01/1997 360
600073030 LEIS,ALBERT E 91896956 $2,356.48 09/01/1997 360
600073032 FISCHER,TIMOTHY A 91896703 $906.34 09/01/1997 360
600073047 BRACKIN,MARSHALL 91894278 $576.43 09/01/1997 360
600073050 PACE,ANN S 91893942 $2,175.21 09/01/1997 360
600073051 ISAACSON,PETER A 91893853 $761.32 09/01/1997 360
600073066 COLLETTA,ANDREW M 91890822 $2,458.71 19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073019 MUSCHIANO,VICTOR D 2.00 2.75 12.88 2.750 2.500 2.345 $313,000.00 N
600073020 CONTE,JOSEPH 2.00 2.75 12.88 2.750 2.500 2.345 $392,375.00 N
600073021 SOLEJR,CHARLES W 2.00 2.75 12.88 2.750 2.500 2.345 $340,000.00 N
600073022 FORBES,KATHRYN A 2.00 2.75 12.88 2.750 2.500 2.345 $345,000.00 N
600073023 GLUTTING,ROBERT V 2.00 2.75 12.88 2.750 2.500 2.345 $475,241.00 N
600073024 BARKAUSKAS,JOSEPH E 2.00 2.75 12.88 2.750 2.500 2.345 $295,907.00 N
600073025 GRESTY,DAVID B 2.00 2.75 12.88 2.750 2.500 2.345 $99,000.00 N
600073028 MCGOUGH,HUGH F 2.00 2.75 12.88 2.750 2.500 2.345 $234,000.00 N
600073030 LEIS,ALBERT E 2.00 2.75 12.88 2.750 2.500 2.345 $472,500.00 N
600073032 FISCHER,TIMOTHY A 2.00 2.75 12.88 2.750 2.500 2.345 $191,500.00 N
600073047 BRACKIN,MARSHALL 2.00 2.75 12.88 2.750 2.500 2.345 $106,000.00 N
600073050 PACE,ANN S 2.00 2.75 12.88 2.750 2.500 2.345 $418,739.69 N
600073051 ISAACSON,PETER A 2.00 2.75 12.88 2.750 2.500 2.345 $141,000.00 N
600073066 COLLETTA,ANDREW M 2.00 2.75 12.88 2.750 2.500 2.345 $398,943.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 84
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073074 LEFF,STEPHEN 16378 MIRASOL WAY DELRAY BEA FL 33446 $567,199.42
600073141 SILVERSTEIN,RICHARD 29174 WAGON ROAD AGOURA CA 91301 $616,953.71
600073142 ANASTASIOU,LORI S 2329 ASHLAND AVENUE SANTA MONI CA 90405 $374,152.55
600073143 LITT,RICHARD A 647 WATKINS STREET BIRMINGHAM MI 48009 $693,561.48
600073144 SUSS,JAMES A 18972 E COSTILLA PLACE AURORA CO 80016 $290,851.34
600073145 WILSON,M R 5006 ROMA COURT MARINA DEL CA 90292 $645,392.31
600073147 BIRCHJR,PHILLIP W 268 OAK LANDING COU SEVERNA PA MD 21146 $595,588.48
600073148 ALLEN,ERIC 13 ANTELOPE LANE MONTEREY CA 93940 $305,816.70
600073149 KAHANE,JEFFREY 3520 RIDGEVIEW DRIVE SANTA ROSA CA 95404 $349,504.80
600073150 HOLTJR,JOHN W 15 BIRCHWOOD ROAD CAPE ELIZA ME 4107 $211,446.82
600073151 POER,J B 13931 MARGATE STREET LOS ANGELE CA 91401 $273,245.32
600073152 WEST,MARK 8328 GARIBALDI AVENU SAN GABRIE CA 91775 $234,326.97
600073153 BOOKOUT,WILLIAM E 5771 TROPHY DRIVE HUNTINGTON CA 92649 $299,812.98
600073154 KENNAN,E D 28 RIDGEWOOD TERRA MAPLEWOOD NJ 7040 $221,170.89
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073074 LEFF,STEPHEN 7.875 .250 7.625 .1550 7.470 02/01/2027
600073141 SILVERSTEIN,RICHARD 7.875 .250 7.625 .1550 7.470 02/01/2027
600073142 ANASTASIOU,LORI S 7.875 .250 7.625 .1550 7.470 02/01/2027
600073143 LITT,RICHARD A 7.875 .250 7.625 .1550 7.470 12/01/2026
600073144 SUSS,JAMES A 7.875 .250 7.625 .1550 7.470 11/01/2026
600073145 WILSON,M R 7.875 .250 7.625 .1550 7.470 11/01/2026
600073147 BIRCHJR,PHILLIP W 7.875 .250 7.625 .1550 7.470 12/01/2026
600073148 ALLEN,ERIC 7.875 .250 7.625 .1550 7.470 11/01/2026
600073149 KAHANE,JEFFREY 7.875 .250 7.625 .1550 7.470 11/01/2026
600073150 HOLTJR,JOHN W 7.875 .250 7.625 .1550 7.470 12/01/2026
600073151 POER,J B 7.875 .250 7.625 .1550 7.470 10/01/2026
600073152 WEST,MARK 7.875 .250 7.625 .1550 7.470 11/01/2026
600073153 BOOKOUT,WILLIAM E 7.875 .250 7.625 .1550 7.470 11/01/2026
600073154 KENNAN,E D 7.875 .250 7.625 .1550 7.470 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073074 LEFF,STEPHEN 91884419 $4,132.90 09/01/1997 360
600073141 SILVERSTEIN,RICHARD 92416867 $4,495.44 09/01/1997 360
600073142 ANASTASIOU,LORI S 92415206 $2,726.27 09/01/1997 360
600073143 LITT,RICHARD A 92409876 $5,060.99 09/01/1997 360
600073144 SUSS,JAMES A 92406139 $2,175.21 09/01/1997 360
600073145 WILSON,M R 92406129 $4,712.95 09/01/1997 360
600073147 BIRCHJR,PHILLIP W 92406014 $4,346.07 09/01/1997 360
600073148 ALLEN,ERIC 92405876 $2,233.21 09/01/1997 360
600073149 KAHANE,JEFFREY 92405825 $2,552.24 09/01/1997 360
600073150 HOLTJR,JOHN W 92405819 $1,542.95 19 09/01/1997 360
600073151 POER,J B 92405806 $1,996.85 1 09/01/1997 360
600073152 WEST,MARK 92405797 $1,711.17 09/01/1997 360
600073153 BOOKOUT,WILLIAM E 92405753 $2,207.11 09/01/1997 360
600073154 KENNAN,E D 92405751 $1,615.10 14 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073074 LEFF,STEPHEN 2.00 2.75 12.88 2.750 2.500 2.345 $746,785.00 N
600073141 SILVERSTEIN,RICHARD 2.00 2.75 12.88 2.750 2.500 2.345 $1,125,000.00 N
600073142 ANASTASIOU,LORI S 2.00 2.75 12.88 2.750 2.500 2.345 $520,000.00 N
600073143 LITT,RICHARD A 2.00 2.75 12.88 2.750 2.500 2.345 $945,000.00 N
600073144 SUSS,JAMES A 2.00 2.75 12.88 2.750 2.500 2.345 $408,000.00 N
600073145 WILSON,M R 2.00 2.75 12.88 2.750 2.500 2.345 $850,000.00 N
600073147 BIRCHJR,PHILLIP W 2.00 2.75 12.88 2.750 2.500 2.345 $806,000.00 N
600073148 ALLEN,ERIC 2.00 2.75 12.88 2.750 2.500 2.345 $385,000.00 N
600073149 KAHANE,JEFFREY 2.00 2.75 12.88 2.750 2.500 2.345 $440,000.00 N
600073150 HOLTJR,JOHN W 2.00 2.75 12.88 2.750 2.500 2.345 $224,000.00 N
600073151 POER,J B 2.00 2.75 12.88 2.750 2.500 2.345 $306,000.00 N
600073152 WEST,MARK 2.00 2.75 12.88 2.750 2.500 2.345 $295,000.00 N
600073153 BOOKOUT,WILLIAM E 2.00 2.75 12.88 2.750 2.500 2.345 $380,500.00 N
600073154 KENNAN,E D 2.00 2.75 12.88 2.750 2.500 2.345 $247,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 85
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073155 AVENT,TIMOTHY 17150 HACKLEY POINT R FRENCHTOWN MT 59834 $317,731.62
600073156 NAKAMURA,TATSU 44 JIM ELDER DRIVE CAMPBELL CA 95008 $259,318.10
600073157 SUTHERLAND,HINTON I 7010 OHIO RIVER BOUL PITTSBURGH PA 15202 $212,390.75
600073158 SEGELBAUM,SCOTT R 1746 TALBOT ROAD BLUE BELL PA 19422 $210,373.06
600073159 NASH,PHILLIP E 1433 PHEASANT DRIVE GILROY CA 95020 $211,539.63
600073160 ALFIERI,JESSICA R 75 HOWE COURT OLD WOORDM NY 11598 $206,180.53
600073161 DIAMOND,STEPHEN M 511 CRAWFORD DRIVE SUNNYVALE CA 94086 $363,524.68
600073162 MILLOT,BENOIT 9606 PAGE AVENUE BETHSEDA MD 20814 $245,745.50
600073163 KOCH,WILLIAM J 2524 PROSSER AVEUE LOS ANGELE CA 90064 $301,845.02
600073164 BOSTIAN,RICKY L 1004 STERN LANE FOSTER CIT CA 94404 $236,505.10
600073165 YOUNG,ALLEN R 6926 GALA STREET HIGHLAND CA 92346 $246,760.79
600073166 WEINER,JAY M 5073 BRITTANY LANE BRYN MAWR PA 19010 $332,625.29
600073167 BAIADA,PAUL M 124 PHEASANT FIELDS MOORESTOWN NJ 8057 $643,565.70
600073170 KAUFFMAN,FRANK 7722 ROCTON AVENUE CHEVY CHAS MD 20815 $285,746.83
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073155 AVENT,TIMOTHY 7.875 .250 7.625 .1550 7.470 11/01/2026
600073156 NAKAMURA,TATSU 7.875 .250 7.625 .1550 7.470 11/01/2026
600073157 SUTHERLAND,HINTON I 7.875 .250 7.625 .1550 7.470 12/01/2026
600073158 SEGELBAUM,SCOTT R 7.875 .250 7.625 .1550 7.470 11/01/2026
600073159 NASH,PHILLIP E 7.875 .250 7.625 .1550 7.470 11/01/2026
600073160 ALFIERI,JESSICA R 7.875 .250 7.625 .1550 7.470 12/01/2026
600073161 DIAMOND,STEPHEN M 7.875 .250 7.625 .1550 7.470 11/01/2026
600073162 MILLOT,BENOIT 7.875 .250 7.625 .1550 7.470 11/01/2026
600073163 KOCH,WILLIAM J 7.875 .250 7.625 .1550 7.470 11/01/2026
600073164 BOSTIAN,RICKY L 7.875 .250 7.625 .1550 7.470 10/01/2026
600073165 YOUNG,ALLEN R 7.875 .250 7.625 .1550 7.470 11/01/2026
600073166 WEINER,JAY M 7.875 .250 7.625 .1550 7.470 11/01/2026
600073167 BAIADA,PAUL M 7.875 .250 7.625 .1550 7.470 12/01/2026
600073170 KAUFFMAN,FRANK 7.875 .250 7.625 .1550 7.470 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073155 AVENT,TIMOTHY 92405581 $2,320.22 09/01/1997 360
600073156 NAKAMURA,TATSU 92405165 $2,001.19 09/01/1997 360
600073157 SUTHERLAND,HINTON I 92405158 $1,549.84 2 09/01/1997 360
600073158 SEGELBAUM,SCOTT R 92405045 $1,536.24 09/01/1997 360
600073159 NASH,PHILLIP E 92404968 $1,544.77 14 09/01/1997 360
600073160 ALFIERI,JESSICA R 92404918 $1,504.52 09/01/1997 360
600073161 DIAMOND,STEPHEN M 92404884 $2,662.45 3 09/01/1997 360
600073162 MILLOT,BENOIT 92404809 $1,794.55 19 09/01/1997 360
600073163 KOCH,WILLIAM J 92404798 $2,204.21 09/01/1997 360
600073164 BOSTIAN,RICKY L 92404571 $1,729.29 7 09/01/1997 360
600073165 YOUNG,ALLEN R 92404121 $1,802.52 09/01/1997 360
600073166 WEINER,JAY M 92403812 $2,428.98 09/01/1997 360
600073167 BAIADA,PAUL M 92402867 $4,712.95 09/01/1997 360
600073170 KAUFFMAN,FRANK 92400008 $2,088.20 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073155 AVENT,TIMOTHY 2.00 2.75 12.88 2.750 2.500 2.345 $490,350.00 N
600073156 NAKAMURA,TATSU 2.00 2.75 12.88 2.750 2.500 2.345 $345,000.00 N
600073157 SUTHERLAND,HINTON I 2.00 2.75 12.88 2.750 2.500 2.345 $225,000.00 N
600073158 SEGELBAUM,SCOTT R 2.00 2.75 12.88 2.750 2.500 2.345 $282,500.00 N
600073159 NASH,PHILLIP E 2.00 2.75 12.88 2.750 2.500 2.345 $243,490.00 N
600073160 ALFIERI,JESSICA R 2.00 2.75 12.88 2.750 2.500 2.345 $336,000.00 N
600073161 DIAMOND,STEPHEN M 2.00 2.75 12.88 2.750 2.500 2.345 $408,000.00 N
600073162 MILLOT,BENOIT 2.00 2.75 12.88 2.750 2.500 2.345 $275,000.00 N
600073163 KOCH,WILLIAM J 2.00 2.75 12.88 2.750 2.500 2.345 $380,000.00 N
600073164 BOSTIAN,RICKY L 2.00 2.75 12.88 2.750 2.500 2.345 $265,000.00 N
600073165 YOUNG,ALLEN R 2.00 2.75 12.88 2.750 2.500 2.345 $325,000.00 N
600073166 WEINER,JAY M 2.00 2.75 12.88 2.750 2.500 2.345 $425,000.00 N
600073167 BAIADA,PAUL M 2.00 2.75 12.88 2.750 2.500 2.345 $840,000.00 N
600073170 KAUFFMAN,FRANK 2.00 2.75 12.88 2.750 2.500 2.345 $360,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 86
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073172 MATIAS,VICTOR 15 DANBERRY RD EAST AMWEL NJ 8551 $246,639.07
600073178 LIGNELLI,JOHN L 1569 AVALON AVE AVALON NJ 8202 $274,892.74
600073179 ELLIS,DONALD B 15 VISTA DEL MAR ORINDA CA 94563 $429,566.25
600073180 FRANZINO,ROBERT M 150A HANOVER ROAD NEWTOWN CT 6470 $232,287.31
600073181 LORENZEN,RALF G 6523 TAMARACK TROY MI 48098 $261,717.23
600073182 BRIGGS,MICHAEL R 2752 HOMEWOOD DRIVE TROY MI 48098 $231,021.53
600073183 L'ECUYER,THOMAS J 2511 BROOKLAWN ROAD TROY MI 48084 $248,012.77
600073184 WENDT,CURT A 1611 ORCHARD COURT WEST CHICA IL 60185 $113,621.10
600073185 SILVERMAN,RICHARD A 8155 WILLOW GLEN ROA LOS ANGELE CA 90046 $343,646.76
600073187 WARREN,M. T 238 MILLBURY STREET AUBURN MA 1501 $238,335.03
600073188 BOWLES,WILLIAM P 1090 LADERA LANE SANTA BARB CA 93108 $628,643.04
600073189 SHAFFER,WILLIAM J 4403 E HAMBLIN DRIVE PHOENIX AZ 85024 $241,595.04
600073191 BURKHOLDER,JUNE 254 MORRIS ROAD HARLEYVILL PA 19438 $348,169.21
600073192 RYCROFT,CHRISTOPHER J 1814 S FIR PLACE BROKEN ARR OK 74012 $97,103.89
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073172 MATIAS,VICTOR 7.875 .250 7.625 .1550 7.470 11/01/2026
600073178 LIGNELLI,JOHN L 7.875 .250 7.625 .1550 7.470 02/01/2027
600073179 ELLIS,DONALD B 7.875 .250 7.625 .1550 7.470 01/01/2027
600073180 FRANZINO,ROBERT M 7.875 .250 7.625 .1550 7.470 04/01/2027
600073181 LORENZEN,RALF G 7.875 .250 7.625 .1550 7.470 01/01/2027
600073182 BRIGGS,MICHAEL R 7.875 .250 7.625 .1550 7.470 12/01/2026
600073183 L'ECUYER,THOMAS J 7.875 .250 7.625 .1550 7.470 12/01/2026
600073184 WENDT,CURT A 7.875 .250 7.625 .1550 7.470 03/01/2027
600073185 SILVERMAN,RICHARD A 7.875 .250 7.625 .1550 7.470 10/01/2026
600073187 WARREN,M. T 7.875 .250 7.625 .1550 7.470 04/01/2027
600073188 BOWLES,WILLIAM P 7.875 .250 7.625 .1550 7.470 10/01/2026
600073189 SHAFFER,WILLIAM J 7.875 .250 7.625 .1550 7.470 10/01/2026
600073191 BURKHOLDER,JUNE 7.875 .250 7.625 .1550 7.470 04/01/2027
600073192 RYCROFT,CHRISTOPHER J 7.875 .250 7.625 .1550 7.470 05/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073172 MATIAS,VICTOR 91882886 $1,801.08 2 09/01/1997 360
600073178 LIGNELLI,JOHN L 92418095 $2,003.00 09/01/1997 360
600073179 ELLIS,DONALD B 92417817 $3,132.30 09/01/1997 360
600073180 FRANZINO,ROBERT M 92413384 $1,690.14 19 09/01/1997 360
600073181 LORENZEN,RALF G 92410394 $1,908.38 09/01/1997 360
600073182 BRIGGS,MICHAEL R 92410199 $1,685.79 09/01/1997 360
600073183 L'ECUYER,THOMAS J 92409878 $1,809.78 09/01/1997 360
600073184 WENDT,CURT A 92409851 $827.30 19 09/01/1997 360
600073185 SILVERMAN,RICHARD A 92403431 $2,523.24 09/01/1997 360
600073187 WARREN,M. T 92401820 $1,734.26 19 09/01/1997 360
600073188 BOWLES,WILLIAM P 92401099 $4,594.04 09/01/1997 360
600073189 SHAFFER,WILLIAM J 92400783 $1,765.54 7 09/01/1997 360
600073191 BURKHOLDER,JUNE 91882100 $2,537.74 09/01/1997 360
600073192 RYCROFT,CHRISTOPHER J 92427850 $706.04 3 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073172 MATIAS,VICTOR 2.00 2.75 12.88 2.750 2.500 2.345 $276,000.00 N
600073178 LIGNELLI,JOHN L 2.00 2.75 12.88 2.750 2.500 2.345 $425,000.00 N
600073179 ELLIS,DONALD B 2.00 2.75 12.88 2.750 2.500 2.345 $565,000.00 N
600073180 FRANZINO,ROBERT M 2.00 2.75 12.88 2.750 2.500 2.345 $259,000.00 N
600073181 LORENZEN,RALF G 2.00 2.75 12.88 2.750 2.500 2.345 $329,000.00 N
600073182 BRIGGS,MICHAEL R 2.00 2.75 12.88 2.750 2.500 2.345 $305,000.00 N
600073183 L'ECUYER,THOMAS J 2.00 2.75 12.88 2.750 2.500 2.345 $312,000.00 N
600073184 WENDT,CURT A 2.00 2.75 12.88 2.750 2.500 2.345 $120,831.00 N
600073185 SILVERMAN,RICHARD A 2.00 2.75 12.88 2.750 2.500 2.345 $435,000.00 N
600073187 WARREN,M. T 2.00 2.75 12.88 2.750 2.500 2.345 $276,000.00 N
600073188 BOWLES,WILLIAM P 2.00 2.75 12.88 2.750 2.500 2.345 $792,000.00 N
600073189 SHAFFER,WILLIAM J 2.00 2.75 12.88 2.750 2.500 2.345 $270,588.00 N
600073191 BURKHOLDER,JUNE 2.00 2.75 12.88 2.750 2.500 2.345 $495,000.00 N
600073192 RYCROFT,CHRISTOPHER J 2.00 2.75 12.88 2.750 2.500 2.345 $102,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 87
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073193 NG,JOHNNY 4250 VERDIGRIS CIRCL SAN JOSE CA 95134 $295,508.84
600073194 QUINN,JONATHAN E 29021 GARDEN OAKS COU AGOURA HIL CA 91301 $264,500.46
600073195 LEWIS,MILFORD T 1241 GULF OF MEXICO LONGBOAT K FL 34228 $297,972.59
600073196 DAILY,RITA A 11000 164TH AVENUE SO RENTON WA 98059 $268,086.02
600073198 QUINT-KULIKOWSKI,DEBRA 27735 N BRIARCLIFF PLAC VALENCIA CA 91355 $226,433.42
600073199 KRAKOWSKY,SHINAAN S 16927 MAGNOLIA BOULEV (ENCINO AR CA 91316 $619,576.54
600073200 AGAR,BELINDA 92 SWANS NECK LANE BRIDGEHAMP NY 11968 $347,774.43
600073201 BELZA,ROBERT A 9203 SPRINGSTEAD COV LOUISVILLE KY 40241 $220,886.43
600073203 KUHN,HAROLD 105 POLECAT LANE TELLURIDE CO 81435 $495,959.05
600073204 WHIDDONJR,JOHN L 48 DOWNFIELD WAY COTO DE CA CA 92679 $386,242.48
600073205 NICHOLSONJR.,EDWARD A 315 TECUMSEH PLACE HURON OH 44839 $84,521.12
600073206 CHA,JENNIFER S 5757 ELDORA STREET LAS VEGAS NV 89102 $222,881.38
600073207 LANGLEY,DAVID E 5753 S KEARNY STREET GREENWOOD CO 80111 $304,054.20
600073208 LEHANE,BERNARD D 1290 PICKETT STREET SONOMA CA 95476 $235,121.31
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073193 NG,JOHNNY 7.875 .250 7.625 .1550 7.470 12/01/2026
600073194 QUINN,JONATHAN E 7.875 .250 7.625 .1550 7.470 01/01/2027
600073195 LEWIS,MILFORD T 7.875 .250 7.625 .1550 7.470 11/01/2026
600073196 DAILY,RITA A 7.875 .250 7.625 .1550 7.470 11/01/2026
600073198 QUINT-KULIKOWSKI,DEBRA 7.875 .250 7.625 .1550 7.470 11/01/2026
600073199 KRAKOWSKY,SHINAAN S 7.875 .250 7.625 .1550 7.470 11/01/2026
600073200 AGAR,BELINDA 7.875 .250 7.625 .1550 7.470 12/01/2026
600073201 BELZA,ROBERT A 7.875 .250 7.625 .1550 7.470 12/01/2026
600073203 KUHN,HAROLD 7.875 .250 7.625 .1550 7.470 11/01/2026
600073204 WHIDDONJR,JOHN L 7.875 .250 7.625 .1550 7.470 11/01/2026
600073205 NICHOLSONJR.,EDWARD A 7.875 .250 7.625 .1550 7.470 01/01/2027
600073206 CHA,JENNIFER S 7.875 .250 7.625 .1550 7.470 11/01/2026
600073207 LANGLEY,DAVID E 7.875 .250 7.625 .1550 7.470 12/01/2026
600073208 LEHANE,BERNARD D 7.875 .250 7.625 .1550 7.470 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073193 NG,JOHNNY 92409162 $2,156.36 14 09/01/1997 360
600073194 QUINN,JONATHAN E 92408876 $1,928.68 09/01/1997 360
600073195 LEWIS,MILFORD T 92407613 $2,175.94 09/01/1997 360
600073196 DAILY,RITA A 92407395 $1,957.69 2 09/01/1997 360
600073198 QUINT-KULIKOWSKI,DEBRA 92407180 $1,653.52 09/01/1997 360
600073199 KRAKOWSKY,SHINAAN S 92406718 $4,524.44 09/01/1997 360
600073200 AGAR,BELINDA 92406687 $2,537.74 09/01/1997 360
600073201 BELZA,ROBERT A 92406576 $1,611.83 3 09/01/1997 360
600073203 KUHN,HAROLD 92406425 $3,621.73 09/01/1997 360
600073204 WHIDDONJR,JOHN L 92406300 $2,820.52 1 09/01/1997 360
600073205 NICHOLSONJR.,EDWARD A 92406280 $616.31 09/01/1997 360
600073206 CHA,JENNIFER S 92406100 $1,631.41 7 09/01/1997 360
600073207 LANGLEY,DAVID E 92405021 $2,218.71 2 09/01/1997 360
600073208 LEHANE,BERNARD D 92404811 $1,716.97 14 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073193 NG,JOHNNY 2.00 2.75 12.88 2.750 2.500 2.345 $313,091.00 N
600073194 QUINN,JONATHAN E 2.00 2.75 12.88 2.750 2.500 2.345 $380,000.00 N
600073195 LEWIS,MILFORD T 2.00 2.75 12.88 2.750 2.500 2.345 $705,000.00 N
600073196 DAILY,RITA A 2.00 2.75 12.88 2.750 2.500 2.345 $300,000.00 N
600073198 QUINT-KULIKOWSKI,DEBRA 2.00 2.75 12.88 2.750 2.500 2.345 $285,097.00 N
600073199 KRAKOWSKY,SHINAAN S 2.00 2.75 12.88 2.750 2.500 2.345 $780,000.00 N
600073200 AGAR,BELINDA 2.00 2.75 12.88 2.750 2.500 2.345 $710,000.00 N
600073201 BELZA,ROBERT A 2.00 2.75 12.88 2.750 2.500 2.345 $247,000.00 N
600073203 KUHN,HAROLD 2.00 2.88 12.88 2.875 2.625 2.470 $850,000.00 N
600073204 WHIDDONJR,JOHN L 2.00 2.75 12.88 2.750 2.500 2.345 $432,303.00 N
600073205 NICHOLSONJR.,EDWARD A 2.00 2.75 12.88 2.750 2.500 2.345 $130,000.00 N
600073206 CHA,JENNIFER S 2.00 2.75 12.88 2.750 2.500 2.345 $250,000.00 N
600073207 LANGLEY,DAVID E 2.00 2.75 12.88 2.750 2.500 2.345 $340,000.00 N
600073208 LEHANE,BERNARD D 2.00 2.75 12.88 2.750 2.500 2.345 $249,306.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 88
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073209 BRICKEY,ROBERT P 595 E NORTH HILLS DRI SALT LAKE UT 84103 $351,825.74
600073210 SCHADE,GREGG E 6 MINK TRAP LANE SHARON MA 2067 $268,086.02
600073211 PELLEGRIN,JAMES M 17110 CRESCENT DRIVE LOS GATOS CA 95032 $459,717.91
600073212 SANTHANAM,SRIBALAN 400 HILLCREST ROAD SAN CARLOS CA 94070 $451,689.56
600073213 JENKINS,TANYA L 1175 CORRAL AVENUE SUNNYVALE CA 94086 $321,658.22
600073214 BLUM,MICHAEL 14718 TUSTIN STREET LOS ANGELE CA 91403 $377,306.21
600073216 CAMPBELL,JEAN M 18660 PASADERO DRIVE LOS ANGELE CA 91356 $488,150.86
600073217 GALBRAITH,ROBERT M 478 DARLINGTON ROAD MEDIA PA 19063 $471,632.82
600073239 HADDAD,RICHARD Y 8800 S OCEAN DRIVE #11 JENSEN BEA FL 34157 $101,723.48
600073240 WARD,JULIE D 900 MIAMI AVENUE TERRACE PA OH 45174 $95,739.77
600073241 GAGE,JOHN S 5 1/2 BEECHCREST CINCINNATI OH 45206 $220,899.54
600073242 BRUNT,ANNE J PINE RUN FARM - OLD GARRISON NY 10524 $562,456.19
600073243 PIERCE,DAVID E 1165 HILLTOP ROAD ERIE PA 16509 $79,783.14
600073246 LEWIS,ARTHUR S 95 WASHINGTON VALL WARREN NJ 7060 $448,780.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073209 BRICKEY,ROBERT P 7.875 .250 7.625 .1550 7.470 10/01/2026
600073210 SCHADE,GREGG E 7.875 .250 7.625 .1550 7.470 11/01/2026
600073211 PELLEGRIN,JAMES M 7.875 .250 7.625 .1550 7.470 11/01/2026
600073212 SANTHANAM,SRIBALAN 7.875 .250 7.625 .1550 7.470 11/01/2026
600073213 JENKINS,TANYA L 7.875 .250 7.625 .1550 7.470 10/01/2026
600073214 BLUM,MICHAEL 7.875 .250 7.625 .1550 7.470 11/01/2026
600073216 CAMPBELL,JEAN M 7.875 .250 7.625 .1550 7.470 10/01/2026
600073217 GALBRAITH,ROBERT M 7.875 .250 7.625 .1550 7.470 11/01/2026
600073239 HADDAD,RICHARD Y 8.000 .250 7.750 .1550 7.595 05/01/2027
600073240 WARD,JULIE D 8.000 .250 7.750 .1550 7.595 05/01/2027
600073241 GAGE,JOHN S 8.000 .250 7.750 .1550 7.595 05/01/2027
600073242 BRUNT,ANNE J 8.000 .250 7.750 .1550 7.595 04/01/2027
600073243 PIERCE,DAVID E 8.000 .250 7.750 .1550 7.595 05/01/2027
600073246 LEWIS,ARTHUR S 8.000 .250 7.750 .1550 7.595 05/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073209 BRICKEY,ROBERT P 92403866 $2,571.10 14 09/01/1997 360
600073210 SCHADE,GREGG E 92403854 $1,957.69 09/01/1997 360
600073211 PELLEGRIN,JAMES M 92403707 $3,357.07 09/01/1997 360
600073212 SANTHANAM,SRIBALAN 92403630 $3,306.32 09/01/1997 360
600073213 JENKINS,TANYA L 92403567 $2,372.43 09/01/1997 360
600073214 BLUM,MICHAEL 92403408 $2,755.27 09/01/1997 360
600073216 CAMPBELL,JEAN M 92403207 $3,567.34 09/01/1997 360
600073217 GALBRAITH,ROBERT M 92403158 $3,444.08 09/01/1997 360
600073239 HADDAD,RICHARD Y 92431573 $748.44 09/01/1997 360
600073240 WARD,JULIE D 92430383 $704.41 09/01/1997 360
600073241 GAGE,JOHN S 92429021 $1,625.29 09/01/1997 360
600073242 BRUNT,ANNE J 92422040 $4,141.18 09/01/1997 360
600073243 PIERCE,DAVID E 92417377 $587.01 09/01/1997 360
600073246 LEWIS,ARTHUR S 92430580 $3,301.94 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073209 BRICKEY,ROBERT P 2.00 2.75 12.88 2.750 2.500 2.345 $394,000.00 N
600073210 SCHADE,GREGG E 2.00 2.75 12.88 2.750 2.500 2.345 $338,000.00 N
600073211 PELLEGRIN,JAMES M 2.00 2.75 12.88 2.750 2.500 2.345 $695,000.00 N
600073212 SANTHANAM,SRIBALAN 2.00 2.75 12.88 2.750 2.500 2.345 $570,000.00 N
600073213 JENKINS,TANYA L 2.00 2.75 12.88 2.750 2.500 2.345 $409,000.00 N
600073214 BLUM,MICHAEL 2.00 2.75 12.88 2.750 2.500 2.345 $475,000.00 N
600073216 CAMPBELL,JEAN M 2.00 2.75 12.88 2.750 2.500 2.345 $615,000.00 N
600073217 GALBRAITH,ROBERT M 2.00 2.75 12.88 2.750 2.500 2.345 $600,000.00 N
600073239 HADDAD,RICHARD Y 2.00 2.75 13.00 2.750 2.500 2.345 $150,000.00 N
600073240 WARD,JULIE D 2.00 2.75 13.00 2.750 2.500 2.345 $120,000.00 N
600073241 GAGE,JOHN S 2.00 2.75 13.00 2.750 2.500 2.345 $415,000.00 N
600073242 BRUNT,ANNE J 2.00 2.75 13.00 2.750 2.500 2.345 $806,250.00 N
600073243 PIERCE,DAVID E 2.00 2.75 13.00 2.750 2.500 2.345 $172,000.00 N
600073246 LEWIS,ARTHUR S 2.00 2.75 13.00 2.750 2.500 2.345 $615,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 89
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073247 KLAWITTER,JAMES T LOT # 109 ELK LAKE OWENTON KY 40359 $39,764.35
600073248 GIEBEL,KENNETH H 960 SHORELINE DRIVE SAN MATEO CA 94404 $191,347.21
600073249 SANMARTIN,CARLOS A 5845 VISTA DEL MAR YORBA LIND CA 92887 $240,591.56
600073250 ELLIOTT,GEORGE C 22 DOLPHIN BOULEVA PONTE VEDR FL 32082 $81,066.82
600073251 HOLMBERG,DAVID 252 N MOUNTAIN AVENUE UPPER MONT NJ 7043 $231,883.43
600073252 LEE,H T 5422 AVENIDA CUESTA ALBUQUERQU NM 87111 $236,262.41
600073255 HICKEY,THOMAS J 39 FIELDSTONE TERR STAMFORD CT 6905 $329,265.04
600073256 MARSH,HAROLD L 4470 OLD STATE ROAD MCKEAN PA 16426 $198,270.90
600073257 WEISS,GARY M 4575 BIGHORN ROAD VAIL CO 81657 $230,395.83
600073258 HOGGARD,GEORGE 2984 CRYSTAL COURT TITUSVILLE FL 32780 $110,828.32
600073259 GROSSMAN,HENRY L 43 ST. BOTOLPH STR BOSTON MA 2116 $216,492.56
600073260 MULHOLLAND III,DANIEL M 158 MEADOW MOUNTAIN SWANTON MD 21561 $186,700.01
600073261 EVELO,JOSEPH H 10121 OLD TRAIL ROAD SCOTTSDALE AZ 85262 $430,645.35
600073262 FORTUNATO,DAVID A 26 POINT STREET BLAIRSVILL PA 15717 $65,000.07
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073247 KLAWITTER,JAMES T 8.000 .250 7.750 .1550 7.595 04/01/2027
600073248 GIEBEL,KENNETH H 8.000 .250 7.750 .1550 7.595 04/01/2027
600073249 SANMARTIN,CARLOS A 8.000 .250 7.750 .1550 7.595 02/01/2027
600073250 ELLIOTT,GEORGE C 8.000 .250 7.750 .1550 7.595 03/01/2027
600073251 HOLMBERG,DAVID 8.000 .250 7.750 .1550 7.595 02/01/2027
600073252 LEE,H T 8.000 .250 7.750 .1550 7.595 02/01/2027
600073255 HICKEY,THOMAS J 8.000 .250 7.750 .1550 7.595 11/01/2026
600073256 MARSH,HAROLD L 8.000 .250 7.750 .1550 7.595 11/01/2026
600073257 WEISS,GARY M 8.000 .250 7.750 .1550 7.595 11/01/2026
600073258 HOGGARD,GEORGE 8.000 .250 7.750 .1550 7.595 11/01/2026
600073259 GROSSMAN,HENRY L 8.000 .250 7.750 .1550 7.595 11/01/2026
600073260 MULHOLLAND III,DANIEL M 8.000 .250 7.750 .1550 7.595 11/01/2026
600073261 EVELO,JOSEPH H 8.000 .250 7.750 .1550 7.595 11/01/2026
600073262 FORTUNATO,DAVID A 8.000 .250 7.750 .1550 7.595 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073247 KLAWITTER,JAMES T 92428690 $292.77 09/01/1997 360
600073248 GIEBEL,KENNETH H 92426133 $1,408.83 09/01/1997 360
600073249 SANMARTIN,CARLOS A 92420444 $1,773.88 09/01/1997 360
600073250 ELLIOTT,GEORGE C 92420348 $597.28 09/01/1997 360
600073251 HOLMBERG,DAVID 92419427 $1,709.68 2 09/01/1997 360
600073252 LEE,H T 92419359 $1,741.96 14 09/01/1997 360
600073255 HICKEY,THOMAS J 92404241 $2,436.10 09/01/1997 360
600073256 MARSH,HAROLD L 92403483 $1,467.53 09/01/1997 360
600073257 WEISS,GARY M 92403367 $1,702.33 09/01/1997 360
600073258 HOGGARD,GEORGE 92403317 $818.88 3 09/01/1997 360
600073259 GROSSMAN,HENRY L 92403155 $1,599.61 09/01/1997 360
600073260 MULHOLLAND III,DANIEL M 92402958 $1,379.48 09/01/1997 360
600073261 EVELO,JOSEPH H 92402870 $3,228.56 09/01/1997 360
600073262 FORTUNATO,DAVID A 92402619 $480.62 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073247 KLAWITTER,JAMES T 2.00 2.75 13.00 2.750 2.500 2.345 $49,900.00 N
600073248 GIEBEL,KENNETH H 2.00 2.75 13.00 2.750 2.500 2.345 $240,000.00 N
600073249 SANMARTIN,CARLOS A 2.00 2.75 13.00 2.750 2.500 2.345 $420,000.00 N
600073250 ELLIOTT,GEORGE C 2.00 2.75 13.00 2.750 2.500 2.345 $101,750.00 N
600073251 HOLMBERG,DAVID 2.00 2.75 13.00 2.750 2.500 2.345 $258,900.00 N
600073252 LEE,H T 2.00 2.75 13.00 2.750 2.500 2.345 $249,900.00 N
600073255 HICKEY,THOMAS J 2.00 2.75 13.00 2.750 2.500 2.345 $415,000.00 N
600073256 MARSH,HAROLD L 2.00 2.75 13.00 2.750 2.500 2.345 $256,000.00 N
600073257 WEISS,GARY M 2.00 2.75 13.00 2.750 2.500 2.345 $290,000.00 N
600073258 HOGGARD,GEORGE 2.00 2.75 13.00 2.750 2.500 2.345 $124,000.00 N
600073259 GROSSMAN,HENRY L 2.00 2.75 13.00 2.750 2.500 2.345 $272,550.00 N
600073260 MULHOLLAND III,DANIEL M 2.00 2.75 13.00 2.750 2.500 2.345 $250,000.00 N
600073261 EVELO,JOSEPH H 2.00 2.75 13.00 2.750 2.500 2.345 $648,523.75 N
600073262 FORTUNATO,DAVID A 2.00 2.75 13.00 2.750 2.500 2.345 $92,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 90
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073263 SMITH,DENNIS A 4400 N W. 63RD AVENUE CORAL SPRI FL 33067 $211,306.13
600073264 LEONTARAKIS,GUS 1 N BIRCH ROAD FT. LAUDER FL 33301 $446,565.70
600073265 KAWTOSKI,JUDITH A 925 STRATFORD COURT STATE COLL PA 16801 $51,579.09
600073266 SAGE,GRACE J 1071-6 LANCASTER BLVD MECHANICSB PA 17055 $54,679.54
600073267 KOUZNETSOV,ALEXANDRE N 2613 PENBROOK LANE STATE COLL PA 16801 $66,488.72
600073268 KING,CHRISTOPHER S 4024 NICHOL AVENUE ANDERSON IN 46011 $70,706.20
600073270 WELSHJR.,FRANK C 6 RIDGEWOOD TERRA LEWISTOWN PA 17044 $80,016.16
600073272 RAHE,ROBERT W 667 MOURNING DOVE D SARASOTA FL 34236 $873,915.04
600073279 LUTTERBIE,RONALD W 10310 KERRIANNA DRIVE CINCINNATI OH 45242 $143,852.24
600073281 LYMAN SR,BENJAMIN F 210 BUFFLEHEAD STRE KYLE TX 78640 $290,477.14
600073324 SWENINGSON,STEVE N BLUEFIN BAY CONDO TOFTE MN 55615 $155,361.41
600073325 RAY-CHAUDHURI,AVIJIT K 2394 ALSACE COURT LIVERMORE CA 94550 $304,066.21
600073326 MANSFIELD,ROBERT J 1200 FOXWOOD COURT BLOOMFIELD MI 48304 $238,042.59
600073327 AVIOTTI,MIKE 2418 CALLE AQUAMARIN SAN CLEMEN CA 92673 $243,130.24
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073263 SMITH,DENNIS A 8.000 .250 7.750 .1550 7.595 10/01/2026
600073264 LEONTARAKIS,GUS 8.000 .250 7.750 .1550 7.595 10/01/2026
600073265 KAWTOSKI,JUDITH A 8.000 .250 7.750 .1550 7.595 10/01/2026
600073266 SAGE,GRACE J 8.000 .250 7.750 .1550 7.595 10/01/2026
600073267 KOUZNETSOV,ALEXANDRE N 8.000 .250 7.750 .1550 7.595 10/01/2026
600073268 KING,CHRISTOPHER S 8.000 .250 7.750 .1550 7.595 10/01/2026
600073270 WELSHJR.,FRANK C 8.000 .250 7.750 .1550 7.595 10/01/2026
600073272 RAHE,ROBERT W 8.000 .250 7.750 .1550 7.595 11/01/2026
600073279 LUTTERBIE,RONALD W 8.000 .250 7.750 .1550 7.595 12/01/2026
600073281 LYMAN SR,BENJAMIN F 8.000 .250 7.750 .1550 7.595 11/01/2026
600073324 SWENINGSON,STEVE N 8.000 .250 7.750 .1550 7.595 03/01/2027
600073325 RAY-CHAUDHURI,AVIJIT K 8.000 .250 7.750 .1550 7.595 11/01/2026
600073326 MANSFIELD,ROBERT J 8.000 .250 7.750 .1550 7.595 11/01/2026
600073327 AVIOTTI,MIKE 8.000 .250 7.750 .1550 7.595 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073263 SMITH,DENNIS A 92402175 $1,562.92 3 09/01/1997 360
600073264 LEONTARAKIS,GUS 92401898 $3,301.94 09/01/1997 360
600073265 KAWTOSKI,JUDITH A 92401837 $381.56 09/01/1997 360
600073266 SAGE,GRACE J 92401723 $404.30 09/01/1997 360
600073267 KOUZNETSOV,ALEXANDRE N 92401483 $491.62 09/01/1997 360
600073268 KING,CHRISTOPHER S 91898742 $522.81 09/01/1997 360
600073270 WELSHJR.,FRANK C 91897173 $594.35 09/01/1997 360
600073272 RAHE,ROBERT W 91896180 $6,457.13 09/01/1997 360
600073279 LUTTERBIE,RONALD W 91892680 $1,062.12 09/01/1997 360
600073281 LYMAN SR,BENJAMIN F 91891345 $2,146.26 19 09/01/1997 360
600073324 SWENINGSON,STEVE N 92425460 $1,144.67 09/01/1997 360
600073325 RAY-CHAUDHURI,AVIJIT K 92405448 $2,249.36 09/01/1997 360
600073326 MANSFIELD,ROBERT J 92404362 $1,758.83 09/01/1997 360
600073327 AVIOTTI,MIKE 92403764 $1,797.72 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073263 SMITH,DENNIS A 2.00 2.75 13.00 2.750 2.500 2.345 $224,250.00 N
600073264 LEONTARAKIS,GUS 2.00 2.75 13.00 2.750 2.500 2.345 $600,000.00 N
600073265 KAWTOSKI,JUDITH A 2.00 2.75 13.00 2.750 2.500 2.345 $65,000.00 N
600073266 SAGE,GRACE J 2.00 2.75 13.00 2.750 2.500 2.345 $68,900.00 N
600073267 KOUZNETSOV,ALEXANDRE N 2.00 2.75 13.00 2.750 2.500 2.345 $102,000.00 N
600073268 KING,CHRISTOPHER S 2.00 2.75 13.00 2.750 2.500 2.345 $95,000.00 N
600073270 WELSHJR.,FRANK C 2.00 2.75 13.00 2.750 2.500 2.345 $110,400.00 N
600073272 RAHE,ROBERT W 2.00 2.75 13.00 2.750 2.500 2.345 $1,100,000.00 N
600073279 LUTTERBIE,RONALD W 2.00 2.75 13.00 2.750 2.500 2.345 $193,000.00 N
600073281 LYMAN SR,BENJAMIN F 2.00 2.75 13.00 2.750 2.500 2.345 $325,000.00 N
600073324 SWENINGSON,STEVE N 2.00 2.75 13.00 2.750 2.500 2.345 $236,900.00 N
600073325 RAY-CHAUDHURI,AVIJIT K 2.00 2.75 13.00 2.750 2.500 2.345 $383,226.00 N
600073326 MANSFIELD,ROBERT J 2.00 2.75 13.00 2.750 2.500 2.345 $452,000.00 N
600073327 AVIOTTI,MIKE 2.00 2.75 13.00 2.750 2.500 2.345 $399,725.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 91
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073328 TRECKER,KAREN L 14162 LADUE ROAD CHESTERFIE MO 63017 $256,399.81
600073332 PARKER,JR,JAMES W 505 PALOS VERDES DR AUSTIN TX 78734 $235,216.02
600073333 SHAW,JAMES A 6351 S COVENTREE LANE LITTLETON CO 80123 $271,908.85
600073336 FIERRO,TODD S 45450 IRVINE DRIVE NOVI MI 48374 $248,092.07
600073338 KELPIN,RONALD 6 HARVARD STREET CRESSKILL NJ 7626 $233,542.42
600073339 CLINE,DONALD M 111 PINE POINTE COU LEAGUE CIT TX 77573 $273,760.08
600073341 BURROWSIII,THOMAS G 880 EMERALD PLACE D ST CHARLES MO 63304 $103,718.05
600073342 MILONE,ARTHUR F 240 SICKLER ROAD LAKE HILL NY 12448 $417,696.09
600073343 MANNING,R SEAN 9455 INDIAN PAINTBRU HIGHLANDS CO 80126 $246,908.99
600073344 MCNEIL,DOUGLAS K 809 ARLINGTON CIRCL NOVATO CA 94947 $371,413.90
600073345 PARKIN,ERIC G 16322 WALRUS LANE HUNTINGTON CA 92649 $422,594.46
600073346 BURKE,CHRIS 2506 CALLE JADE SAN CLEMEN CA 92673 $322,817.34
600073347 WEST,GREGORY S 960 PARTRIDGE DRIVE PALATINE IL 60067 $217,743.46
600073348 PASCAL,ANDRE 1519 WINTERWARM DRIV FALLBROOK CA 92028 $223,277.80
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073328 TRECKER,KAREN L 8.000 .250 7.750 .1550 7.595 12/01/2026
600073332 PARKER,JR,JAMES W 8.000 .250 7.750 .1550 7.595 10/01/2026
600073333 SHAW,JAMES A 8.000 .250 7.750 .1550 7.595 10/01/2026
600073336 FIERRO,TODD S 8.000 .250 7.750 .1550 7.595 10/01/2026
600073338 KELPIN,RONALD 8.000 .250 7.750 .1550 7.595 12/01/2026
600073339 CLINE,DONALD M 8.000 .250 7.750 .1550 7.595 10/01/2026
600073341 BURROWSIII,THOMAS G 8.000 .250 7.750 .1550 7.595 05/01/2027
600073342 MILONE,ARTHUR F 8.000 .250 7.750 .1550 7.595 02/01/2027
600073343 MANNING,R SEAN 8.000 .250 7.750 .1550 7.595 12/01/2026
600073344 MCNEIL,DOUGLAS K 8.000 .250 7.750 .1550 7.595 11/01/2026
600073345 PARKIN,ERIC G 8.000 .250 7.750 .1550 7.595 10/01/2026
600073346 BURKE,CHRIS 8.000 .250 7.750 .1550 7.595 10/01/2026
600073347 WEST,GREGORY S 8.000 .250 7.750 .1550 7.595 10/01/2026
600073348 PASCAL,ANDRE 8.000 .250 7.750 .1550 7.595 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073328 TRECKER,KAREN L 92402721 $1,893.11 09/01/1997 360
600073332 PARKER,JR,JAMES W 91898878 $1,739.21 19 09/01/1997 360
600073333 SHAW,JAMES A 91898225 $2,010.52 09/01/1997 360
600073336 FIERRO,TODD S 91895681 $1,834.41 19 09/01/1997 360
600073338 KELPIN,RONALD 91880584 $1,724.35 2 09/01/1997 360
600073339 CLINE,DONALD M 91861584 $2,034.00 19 09/01/1997 360
600073341 BURROWSIII,THOMAS G 92418179 $763.12 3 09/01/1997 360
600073342 MILONE,ARTHUR F 92414465 $3,081.81 09/01/1997 360
600073343 MANNING,R SEAN 92407796 $1,823.04 09/01/1997 360
600073344 MCNEIL,DOUGLAS K 92404141 $2,744.28 09/01/1997 360
600073345 PARKIN,ERIC G 92403747 $3,125.84 09/01/1997 360
600073346 BURKE,CHRIS 92403433 $2,386.94 09/01/1997 360
600073347 WEST,GREGORY S 92402984 $1,617.95 1 09/01/1997 360
600073348 PASCAL,ANDRE 92402758 $1,650.97 2 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073328 TRECKER,KAREN L 2.00 2.75 13.00 2.750 2.500 2.345 $322,500.00 N
600073332 PARKER,JR,JAMES W 2.00 2.75 13.00 2.750 2.500 2.345 $249,500.00 N
600073333 SHAW,JAMES A 2.00 2.75 13.00 2.750 2.500 2.345 $342,500.00 N
600073336 FIERRO,TODD S 2.00 2.75 13.00 2.750 2.500 2.345 $280,000.00 N
600073338 KELPIN,RONALD 2.00 2.75 13.00 2.750 2.500 2.345 $280,000.00 N
600073339 CLINE,DONALD M 2.00 2.75 13.00 2.750 2.500 2.345 $291,835.00 N
600073341 BURROWSIII,THOMAS G 2.00 2.75 13.00 2.750 2.500 2.345 $112,085.00 N
600073342 MILONE,ARTHUR F 2.00 2.75 13.00 2.750 2.500 2.345 $525,000.00 N
600073343 MANNING,R SEAN 2.00 2.75 13.00 2.750 2.500 2.345 $311,957.00 N
600073344 MCNEIL,DOUGLAS K 2.00 2.75 13.00 2.750 2.500 2.345 $470,000.00 N
600073345 PARKIN,ERIC G 2.00 2.75 13.00 2.750 2.500 2.345 $575,000.00 N
600073346 BURKE,CHRIS 2.00 2.75 13.00 2.750 2.500 2.345 $406,642.00 N
600073347 WEST,GREGORY S 2.00 2.75 13.00 2.750 2.500 2.345 $245,000.00 N
600073348 PASCAL,ANDRE 2.00 2.75 13.00 2.750 2.500 2.345 $250,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 92
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073349 HASCALL,TIMOTHY M 1401 GREEN OAKS DRIV LITTLETON CO 80121 $579,167.29
600073350 FALLON,MARY E 256 KINVARA DRIVE PITTSBURGH PA 15237 $99,236.88
600073352 MARSHALL,T. T 7 CLOVER LEAF COU MEDFORD NJ 8055 $209,985.08
600073353 BUTLERII,JOHN T 164 PENINSULA DRIVE CENTRAL CI PA 15926 $218,321.03
600073367 RODDY,LOIS 5593 OAK VISTA DRIVE CINCINNATI OH 45243 $99,735.66
600073369 CHANG,NERISSA C 377 ST. MARTIN DRIV REDWOOD CI CA 94065 $348,602.75
600073371 RYKAART,RONALD J 10497 BRENTMOOR DRIVE LOVELAND OH 45140 $303,196.46
600073372 CLOUTIER,GEORGE 103 BELLEVUE STREET NEWTON MA 2158 $263,396.95
600073374 KEMPTON,KENNETH P 2300 FIRST AVENUE STATE COLL PA 16801 $59,595.32
600073375 COLE,KENNETH W 9 HARBOR ROAD REHOBOTH B DE 19971 $407,234.82
600073376 GIGAS,HARALD 108 REYNOLDS AVENUE DUBOIS PA 15801 $76,923.02
600073377 SCHIMIZZI,JAMES F RD 2 BOX 362B SALTSBURG PA 15681 $120,752.51
600073378 CAPANO,JAN B 34 ROCKLAND FALLS ROCKLAND DE 19732 $248,313.95
600073382 OSTERMAN,A. L 818 FARAWAY RD. SNOWMASS V CO 81615 $799,007.49
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073349 HASCALL,TIMOTHY M 8.000 .250 7.750 .1550 7.595 11/01/2026
600073350 FALLON,MARY E 8.000 .250 7.750 .1550 7.595 10/01/2026
600073352 MARSHALL,T. T 8.000 .250 7.750 .1550 7.595 10/01/2026
600073353 BUTLERII,JOHN T 8.000 .250 7.750 .1550 7.595 10/01/2026
600073367 RODDY,LOIS 8.125 .250 7.875 .1550 7.720 05/01/2027
600073369 CHANG,NERISSA C 8.125 .250 7.875 .1550 7.720 03/01/2027
600073371 RYKAART,RONALD J 8.125 .250 7.875 .1550 7.720 05/01/2027
600073372 CLOUTIER,GEORGE 8.125 .250 7.875 .1550 7.720 12/01/2026
600073374 KEMPTON,KENNETH P 8.125 .250 7.875 .1550 7.720 11/01/2026
600073375 COLE,KENNETH W 8.125 .250 7.875 .1550 7.720 11/01/2026
600073376 GIGAS,HARALD 8.125 .250 7.875 .1550 7.720 10/01/2026
600073377 SCHIMIZZI,JAMES F 8.125 .250 7.875 .1550 7.720 10/01/2026
600073378 CAPANO,JAN B 8.125 .250 7.875 .1550 7.720 11/01/2026
600073382 OSTERMAN,A. L 8.125 .250 7.875 .1550 7.720 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073349 HASCALL,TIMOTHY M 92402443 $4,279.32 09/01/1997 360
600073350 FALLON,MARY E 91897038 $733.76 09/01/1997 360
600073352 MARSHALL,T. T 91895028 $1,552.65 09/01/1997 360
600073353 BUTLERII,JOHN T 91894524 $1,614.28 09/01/1997 360
600073367 RODDY,LOIS 92430838 $742.50 09/01/1997 360
600073369 CHANG,NERISSA C 92423901 $2,598.75 09/01/1997 360
600073371 RYKAART,RONALD J 92408719 $2,257.19 09/01/1997 360
600073372 CLOUTIER,GEORGE 92404445 $1,967.62 09/01/1997 360
600073374 KEMPTON,KENNETH P 92403159 $445.50 09/01/1997 360
600073375 COLE,KENNETH W 92402819 $3,044.24 09/01/1997 360
600073376 GIGAS,HARALD 92401206 $575.44 09/01/1997 360
600073377 SCHIMIZZI,JAMES F 92400619 $905.85 09/01/1997 360
600073378 CAPANO,JAN B 91897624 $1,856.24 09/01/1997 360
600073382 OSTERMAN,A. L 91894393 $5,977.10 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073349 HASCALL,TIMOTHY M 2.00 2.75 13.00 2.750 2.500 2.345 $729,000.00 N
600073350 FALLON,MARY E 2.00 2.75 13.00 2.750 2.500 2.345 $146,000.00 N
600073352 MARSHALL,T. T 2.00 2.75 13.00 2.750 2.500 2.345 $264,500.00 N
600073353 BUTLERII,JOHN T 2.00 2.75 13.00 2.750 2.500 2.345 $290,000.00 N
600073367 RODDY,LOIS 2.00 2.75 13.13 2.750 2.500 2.345 $154,000.00 N
600073369 CHANG,NERISSA C 2.00 2.75 13.13 2.750 2.500 2.345 $466,667.00 N
600073371 RYKAART,RONALD J 2.00 2.75 13.13 2.750 2.500 2.345 $380,632.00 N
600073372 CLOUTIER,GEORGE 2.00 2.75 13.13 2.750 2.500 2.345 $390,000.00 N
600073374 KEMPTON,KENNETH P 2.00 2.75 13.13 2.750 2.500 2.345 $80,000.00 N
600073375 COLE,KENNETH W 2.00 2.75 13.13 2.750 2.500 2.345 $610,000.00 N
600073376 GIGAS,HARALD 2.00 2.75 13.13 2.750 2.500 2.345 $110,900.00 N
600073377 SCHIMIZZI,JAMES F 2.00 2.75 13.13 2.750 2.500 2.345 $165,000.00 N
600073378 CAPANO,JAN B 2.00 2.75 13.13 2.750 2.500 2.345 $340,500.00 N
600073382 OSTERMAN,A. L 2.00 2.75 13.13 2.750 2.500 2.345 $1,150,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 93
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073383 KRANICH,JOEL H 4638 WINTHROP STREET PITTSBURGH PA 15213 $118,114.17
600073384 KRANICH,JOEL H 4626 HENRY STREET PITTSBURGH PA 15213 $99,255.55
600073386 GREER,TIMOTHY P 758 SMITH RIDGE RD NEW CANAAN CT 6840 $342,427.24
600073409 WOOD,SARAH H 2708 HILLBROOKE PKWY OWENSBORO KY 42303 $104,218.39
600073414 KASPARIAN,NARINE 2155 RIMCREST DRIVE GLENDALE CA 91207 $326,781.07
600073415 WINN,KEVIN R 4375 ADAMS AVENUE SAN DIEGO CA 92116 $223,920.52
600073416 KNIGHTIII,ROBERT J 205 CREFFIELD HEIGH MONTE SERE CA 95030 $564,169.24
600073417 NELSON,SCOTT C 1418 E NORTHRIDGE DRIV BOUNTIFUL UT 84010 $280,049.58
600073418 MARTIN,MICHAEL W 333 MAYA PALM DRIVE BOCA RATON FL 33432 $694,788.98
600073419 BECKER,REUBEN J 211 MEDA LANE MILL VALLE CA 94941 $484,708.74
600073423 WICKS,MICHAEL 6361 EL PASEO DR SAN JOSE CA 95120 $293,606.39
600073427 POWELL,WILLIAM C 1115 NORVAL WAY SAN JOSE CA 95125 $249,339.20
600073428 HAND,GEORGE E 102 WASHINGTON AVEN TOWNSHIP O NJ 8094 $72,757.99
600073430 MCGETRICK,MICHAEL 575 OAKWOOD LANE CASTLE ROC CO 80104 $489,575.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073383 KRANICH,JOEL H 8.125 .250 7.875 .1550 7.720 10/01/2026
600073384 KRANICH,JOEL H 8.125 .250 7.875 .1550 7.720 10/01/2026
600073386 GREER,TIMOTHY P 8.125 .250 7.875 .1550 7.720 10/01/2026
600073409 WOOD,SARAH H 8.125 .250 7.875 .1550 7.720 10/01/2026
600073414 KASPARIAN,NARINE 8.125 .250 7.875 .1550 7.720 11/01/2026
600073415 WINN,KEVIN R 8.125 .250 7.875 .1550 7.720 10/01/2026
600073416 KNIGHTIII,ROBERT J 8.125 .250 7.875 .1550 7.720 11/01/2026
600073417 NELSON,SCOTT C 8.125 .250 7.875 .1550 7.720 10/01/2026
600073418 MARTIN,MICHAEL W 8.125 .250 7.875 .1550 7.720 10/01/2026
600073419 BECKER,REUBEN J 8.125 .250 7.875 .1550 7.720 11/01/2026
600073423 WICKS,MICHAEL 8.125 .250 7.875 .1550 7.720 11/01/2026
600073427 POWELL,WILLIAM C 8.125 .250 7.875 .1550 7.720 05/01/2027
600073428 HAND,GEORGE E 8.125 .250 7.875 .1550 7.720 04/01/2027
600073430 MCGETRICK,MICHAEL 8.125 .250 7.875 .1550 7.720 11/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073383 KRANICH,JOEL H 91893790 $883.57 09/01/1997 360
600073384 KRANICH,JOEL H 91893767 $742.50 09/01/1997 360
600073386 GREER,TIMOTHY P 91892922 $2,561.62 09/01/1997 360
600073409 WOOD,SARAH H 91869881 $779.62 09/01/1997 360
600073414 KASPARIAN,NARINE 92404750 $2,442.82 09/01/1997 360
600073415 WINN,KEVIN R 92404722 $1,675.08 2 09/01/1997 360
600073416 KNIGHTIII,ROBERT J 92404658 $4,217.38 09/01/1997 360
600073417 NELSON,SCOTT C 92404497 $2,094.96 19 09/01/1997 360
600073418 MARTIN,MICHAEL W 92404411 $5,197.49 09/01/1997 360
600073419 BECKER,REUBEN J 92404254 $3,623.39 09/01/1997 360
600073423 WICKS,MICHAEL 91897558 $2,194.82 09/01/1997 360
600073427 POWELL,WILLIAM C 92430886 $1,856.24 09/01/1997 360
600073428 HAND,GEORGE E 92423868 $542.02 09/01/1997 360
600073430 MCGETRICK,MICHAEL 92401465 $3,659.77 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073383 KRANICH,JOEL H 2.00 2.75 13.13 2.750 2.500 2.345 $216,000.00 N
600073384 KRANICH,JOEL H 2.00 2.75 13.13 2.750 2.500 2.345 $155,000.00 N
600073386 GREER,TIMOTHY P 2.00 2.75 13.13 2.750 2.500 2.345 $475,000.00 N
600073409 WOOD,SARAH H 2.00 2.75 13.13 2.750 2.500 2.345 $188,500.00 N
600073414 KASPARIAN,NARINE 2.00 2.75 13.13 2.750 2.500 2.345 $554,000.00 N
600073415 WINN,KEVIN R 2.00 2.75 13.13 2.750 2.500 2.345 $237,500.00 N
600073416 KNIGHTIII,ROBERT J 2.00 2.75 13.13 2.750 2.500 2.345 $710,000.00 N
600073417 NELSON,SCOTT C 2.00 2.75 13.13 2.750 2.500 2.345 $297,000.00 N
600073418 MARTIN,MICHAEL W 2.00 2.75 13.13 2.750 2.500 2.345 $916,000.00 N
600073419 BECKER,REUBEN J 2.00 2.75 13.13 2.750 2.500 2.345 $610,000.00 N
600073423 WICKS,MICHAEL 2.00 2.75 13.13 2.750 2.500 2.345 $369,500.00 N
600073427 POWELL,WILLIAM C 2.00 2.75 13.13 2.750 2.500 2.345 $360,000.00 N
600073428 HAND,GEORGE E 2.00 2.75 13.13 2.750 2.500 2.345 $118,000.00 N
600073430 MCGETRICK,MICHAEL 2.00 2.75 13.13 2.750 2.500 2.345 $616,154.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 94
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073431 ZARRELLA,GERALD 32 W SIDE ROAD NEW SHOREH RI 2807 $149,603.49
600073432 BADGER,DAVID S 174 IRWIN STREET SAN RAFAEL CA 94901 $262,034.77
600073433 YEE,LI-KING 607 RAVENNA TERRACE FREMONT CA 94536 $234,193.46
600073435 TELLES,GARY 14029 EMORY DRIVE WHITTIER CA 90605 $221,477.65
600073451 LESLIE,RICHARD J 5 HARVEST WAY WESTBORO MA 1581 $410,918.12
600073452 BAKER,DEBORAH K 413 PLEASANT VALLEY MOORESTOWN NJ 8057 $134,851.59
600073453 HUANG,AVA P ONE CENTRAL PARK WE BOROUGH OF NY 10023 $279,278.40
600073455 STOREY,JAMES M MAIN ROAD ON GREAT CRANBERRY ME 4625 $520,553.30
600073456 OLIVIERI,COSMO 26 WATERFORD CIRCL WASHINGTON NY 10992 $139,079.17
600073480 LEDERMAN,DAVID 258 AMALFI DRIVE LOS ANGELE CA 90402 $866,959.43
600073483 DUGUAY,KIM A 27788 HIDDEN TRAIL RD LAGUNA HIL CA 92653 $397,368.93
600073484 STIDMAN,CHRISTOPHER 5 SEAGATE ROAD DARIEN CT 6820 $359,173.17
600073485 CLARK,SUSAN E 24 HEREFORD AVENU CAPE MAY C NJ 8210 $56,852.12
600073486 MURREL,ROBERT R 25090 TAHQUITZ ROAD IDYLL WILD CA 92549 $251,350.58
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073431 ZARRELLA,GERALD 8.125 .250 7.875 .1550 7.720 05/01/2027
600073432 BADGER,DAVID S 8.125 .250 7.875 .1550 7.720 10/01/2026
600073433 YEE,LI-KING 8.125 .250 7.875 .1550 7.720 10/01/2026
600073435 TELLES,GARY 8.125 .250 7.875 .1550 7.720 10/01/2026
600073451 LESLIE,RICHARD J 8.125 .250 7.875 .1550 7.720 10/01/2026
600073452 BAKER,DEBORAH K 8.250 .250 8.000 .1550 7.845 05/01/2027
600073453 HUANG,AVA P 8.250 .250 8.000 .1550 7.845 05/01/2027
600073455 STOREY,JAMES M 8.250 .250 8.000 .1550 7.845 11/01/2026
600073456 OLIVIERI,COSMO 8.250 .250 8.000 .1550 7.845 11/01/2026
600073480 LEDERMAN,DAVID 8.250 .250 8.000 .1550 7.845 10/01/2026
600073483 DUGUAY,KIM A 8.250 .250 8.000 .1550 7.845 11/01/2026
600073484 STIDMAN,CHRISTOPHER 8.250 .250 8.000 .1550 7.845 10/01/2026
600073485 CLARK,SUSAN E 8.250 .250 8.000 .1550 7.845 05/01/2027
600073486 MURREL,ROBERT R 8.250 .250 8.000 .1550 7.845 05/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073431 ZARRELLA,GERALD 92423603 $1,113.75 09/01/1997 360
600073432 BADGER,DAVID S 92403322 $1,960.19 09/01/1997 360
600073433 YEE,LI-KING 92402936 $1,751.93 7 09/01/1997 360
600073435 TELLES,GARY 92402214 $1,657.63 7 09/01/1997 360
600073451 LESLIE,RICHARD J 91860741 $3,073.94 19 09/01/1997 360
600073452 BAKER,DEBORAH K 92431283 $1,015.71 09/01/1997 360
600073453 HUANG,AVA P 92422165 $2,103.55 09/01/1997 360
600073455 STOREY,JAMES M 92401409 $3,936.64 09/01/1997 360
600073456 OLIVIERI,COSMO 91897492 $1,051.77 09/01/1997 360
600073480 LEDERMAN,DAVID 91899153 $6,560.81 09/01/1997 360
600073483 DUGUAY,KIM A 91893906 $3,005.07 09/01/1997 360
600073484 STIDMAN,CHRISTOPHER 92401680 $2,718.08 2 09/01/1997 360
600073485 CLARK,SUSAN E 92431605 $428.22 19 09/01/1997 360
600073486 MURREL,ROBERT R 92425048 $1,893.19 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073431 ZARRELLA,GERALD 2.00 2.75 13.13 2.750 2.500 2.345 $250,000.00 N
600073432 BADGER,DAVID S 2.00 2.75 13.13 2.750 2.500 2.345 $330,000.00 N
600073433 YEE,LI-KING 2.00 2.75 13.13 2.750 2.500 2.345 $248,387.00 N
600073435 TELLES,GARY 2.00 2.75 13.13 2.750 2.500 2.345 $235,000.00 N
600073451 LESLIE,RICHARD J 2.00 2.75 13.13 2.750 2.500 2.345 $460,000.00 N
600073452 BAKER,DEBORAH K 2.00 2.75 13.25 2.750 2.500 2.345 $169,000.00 N
600073453 HUANG,AVA P 2.00 2.75 13.25 2.750 2.500 2.345 $400,000.00 N
600073455 STOREY,JAMES M 2.00 2.75 13.25 2.750 2.500 2.345 $655,000.00 N
600073456 OLIVIERI,COSMO 2.00 2.75 13.25 2.750 2.500 2.345 $177,150.00 N
600073480 LEDERMAN,DAVID 2.00 2.75 13.25 2.750 2.500 2.345 $1,164,500.00 N
600073483 DUGUAY,KIM A 2.00 2.75 13.25 2.750 2.500 2.345 $590,000.00 N
600073484 STIDMAN,CHRISTOPHER 2.00 2.75 13.25 2.750 2.500 2.345 $402,000.00 N
600073485 CLARK,SUSAN E 2.00 2.75 13.25 2.750 2.500 2.345 $60,000.00 N
600073486 MURREL,ROBERT R 2.00 2.75 13.25 2.750 2.500 2.345 $315,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 95
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600073487 DELLINGER,DAVID V 9122 SANTAYANA DRIVE FAIRFAX VA 22031 $250,170.26
600073488 SAXE,STEPHEN A 6918 SHARPSBURG DRIV CENTREVILL VA 20121 $228,578.29
600073490 THOMPSON,CRAIG 22401 LONG GROVE ROAD BARRINGTON IL 60010 $238,257.50
600073491 CARDWELL,BARRY E 7826 FRIARS COURT ALEXANDRIA VA 22306 $223,465.67
600073492 WEIS,STEPHEN P 1 BEACH AVENUE TOWNSHIP O NJ 8251 $210,957.17
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600073487 DELLINGER,DAVID V 8.250 .250 8.000 .1550 7.845 10/01/2026
600073488 SAXE,STEPHEN A 8.250 .250 8.000 .1550 7.845 10/01/2026
600073490 THOMPSON,CRAIG 8.250 .250 8.000 .1550 7.845 10/01/2026
600073491 CARDWELL,BARRY E 8.250 .250 8.000 .1550 7.845 10/01/2026
600073492 WEIS,STEPHEN P 8.250 .250 8.000 .1550 7.845 10/01/2026
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600073487 DELLINGER,DAVID V 92403177 $1,893.20 19 09/01/1997 360
600073488 SAXE,STEPHEN A 92403000 $1,729.79 14 09/01/1997 360
600073490 THOMPSON,CRAIG 91895375 $1,803.04 09/01/1997 360
600073491 CARDWELL,BARRY E 91893699 $1,691.10 19 09/01/1997 360
600073492 WEIS,STEPHEN P 91891393 $1,596.44 09/01/1997 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600073487 DELLINGER,DAVID V 2.00 2.75 13.25 2.750 2.500 2.345 $280,000.00 N
600073488 SAXE,STEPHEN A 2.00 2.75 13.25 2.750 2.500 2.345 $242,390.00 N
600073490 THOMPSON,CRAIG 2.00 2.75 13.25 2.750 2.500 2.345 $325,000.00 N
600073491 CARDWELL,BARRY E 2.00 2.75 13.25 2.750 2.500 2.345 $237,000.00 N
600073492 WEIS,STEPHEN P 2.00 2.75 13.25 2.750 2.500 2.345 $312,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 96
RUN DATE: 09/22/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 08:20:37 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 09/22/1997
POOL NUMBER: 3719 POOL NAME: 1997-6 Grp II
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
<TABLE>
<CAPTION>
LOAN # OF CURRENT PROPERTY ORIG LOAN
COUNT BUYDOWN BALANCE VALUE AMOUNT P & I
** POOL ----- ------- ------- --------- --------- -----
<S> <C> <C> <C> <C> <C> <C>
** TOTAL 1321 0 409,998,258.33 573,086,622.46 414,507,161.00 2,888,304.72
</TABLE>
<PAGE>
EXHIBIT E
SERVICING AGREEMENT
This Servicing Agreement (this "Agreement"), dated as of September 1,
1997, is by and between PNC Mortgage Securities Corp., a Delaware corporation
(the "Company") and PNC Mortgage Corp. of America, an Ohio corporation (the
"Servicer").
W I T N E S S E T H :
WHEREAS, the Company has agreed to purchase from PNC Bank, National
Association (the "Seller"), and Seller has agreed to sell to Company, certain
first lien residential mortgage loans described on the Mortgage Loan Schedule
(the "Schedule") attached hereto as Exhibit A (the "Mortgage Loans"); and
WHEREAS, in order to induce Company to purchase the mortgage loans,
Seller has agreed to cause the Mortgage Loans to be serviced pursuant to
Company's Servicing Guide (the "Guide"), as may be henceforth amended from time
to time by Company; and
WHEREAS, Servicer desires to service the Mortgage Loans on behalf of
the Company pursuant to the Guide; and
WHEREAS, Company desires Servicer to service the Mortgage Loans.
NOW, THEREFORE, the parties hereto, for good and valuable
consideration, the receipt of which is hereby acknowledged, agree as follows:
1. SERVICING OF SERVICER MORTGAGE LOANS. Servicer shall, commencing on
September 16, 1997, service the Mortgage Loans on behalf of Company, or any
assignee of Company, in compliance with the provisions of (a) the Guide, (b) all
applicable state, federal and local laws and regulations and (c) the applicable
notes, mortgages, deeds of trust and other mortgage loan documentation.
2. COMPENSATION. With respect to each Mortgage Loan, Servicer shall receive a
fee for performing primary servicing functions with respect to such Mortgage
Loan, equal to the per annum rate set forth for such Mortgage Loan in the
Schedule on the outstanding principal balance of such Mortgage Loan, payable
monthly from interest actually collected with respect to such Mortgage Loan from
whatever source.
1
<PAGE>
3. REPRESENTATIONS AND WARRANTIES OF SERVICER.
All of the representations and warranties contained in this Section are made by
Servicer as to each Mortgage Loan serviced on behalf of Company unless expressly
waived in writing by Company. All of the representations and warranties made by
Servicer pursuant to this Section are made and given to Company with the
knowledge that Company relies on such representations and warranties as
continuing consideration for allowing Servicer to retain the servicing rights to
each Mortgage Loan serviced for Company. Servicer makes such representations
and warranties with specific knowledge that Company intends to sell each
Mortgage Loan to third parties in reliance upon Servicer's representations,
warranties and obligations. All representations and warranties of Servicer
shall survive any investigation made by or on behalf of Company, its assignees
or designees, liquidation of the applicable Mortgage Loan, repurchase of the
Mortgage Loan or the Mortgaged Property, termination of this Agreement, or other
similar event or transfer or sale of servicing, and all such representations,
warranties and obligations shall inure to the benefit of Company, its successors
and assigns.
Unless otherwise specified, the representations and warranties contained in this
Section are made with respect to each Mortgage Loan as of the date of delivery
to Company of any oral or written report or remittance related thereto.
(a) ORGANIZATION AND GOOD STANDING. Servicer is duly organized, validly
existing and in good standing under the laws of the jurisdiction under which it
was organized and is qualified to do business and is properly licensed or
registered to service Mortgage Loans on behalf of Company in each jurisdiction
in which a Mortgaged Property is located, or is exempt under applicable law from
such qualification or licensing and no demand for such qualification or
licensing has been made upon Servicer by any jurisdiction.
(b) AUTHORITY AND CAPACITY. Servicer has all requisite corporate power,
authority and capacity to enter into this Agreement and to perform the
obligations required of it hereunder. This Agreement (assuming the due
authorization and execution of this Agreement by Company) constitutes a valid
and legally binding agreement of Servicer enforceable in accordance with its
terms, except as such enforceability may be limited by bankruptcy, insolvency,
moratorium, reorganization and similar laws, and by equitable principles
affecting the enforceability of the rights of creditors. No consent, approval,
authorization or order of or registration or filing with, or notice to, any
governmental authority or court is required, under state or federal law prior to
the execution, delivery and performance of or compliance by Servicer with this
Agreement or the consummation by Servicer of any other transaction contemplated
hereby.
(c) NO CONFLICT. Neither the execution and delivery of this Agreement nor
the consummation of the transactions contemplated by this Agreement nor
compliance with its terms and conditions, shall conflict with or result in the
breach of, or constitute a default under, or result in the creation or
imposition of any lien, charge or encumbrance of any nature upon the properties
or assets of Servicer, any of the terms, conditions or provisions of Servicer's
2
<PAGE>
charter or by-laws or any similar corporate documents of Servicer or any
mortgage, indenture, deed of trust, loan or credit agreement or other agreement
or instrument to which Servicer is now a party or by which it is bound.
(d) COMPLIANCE WITH LAWS. There is no action, suit, proceeding or
investigation pending, or to Servicer's knowledge, threatened against Servicer
before, any court, administrative agency or other tribunal (i) asserting the
invalidity of this Agreement, (ii) seeking to prevent the consummation of any of
the transactions contemplated hereby or (iii) which might materially and
adversely affect the performance by Servicer of its obligations under, or the
validity or enforceability of, this Agreement. Servicer has not violated any
applicable law, regulation, ordinance, order, injunction or decree, or any other
requirement of any governmental body or court, which may materially and
adversely affect the Mortgage Loans serviced pursuant to this Agreement or the
related servicing privileges.
(e) PERFORMANCE. Servicer does not believe, nor does it have any reason
or cause to believe, that it cannot perform each and every covenant contained in
this Agreement.
(f) ORDINARY COURSE TRANSACTION. The consummation of the transactions
contemplated by this Agreement are in the ordinary course of business of
Servicer.
(g) STATEMENTS MADE. No representation, warranty or written statement
made by Servicer in this Agreement or in any schedule, written statement or
certificate furnished to Company by Servicer in connection with this Agreement
or the transactions contemplated thereunder contains or will contain any untrue
statement of a material fact or omits or will omit to state a material fact
necessary to make the statements contained herein or therein not misleading.
(h) APPROVED SERVICER. Servicer (i) meets all of the eligibility
requirements set forth in Section 101.01 of the Guide and (ii) is (x) a
mortgagee approved by HUD or (y) an institution whose deposit accounts are
insured by the Federal Deposit Insurance Corporation.
4. ADDITIONAL COVENANTS OF SERVICER.
Servicer, without limitation and in addition to any other covenants made in this
Agreement or the Guide with respect to the Mortgage Loans, covenants the
following:
(a) COMPLETION AND DELIVERY OF DOCUMENTS. Servicer shall properly
complete and transmit all of Company's forms in a timely manner and in
accordance with the requirements set forth in this Agreement, the Guide and the
instructions provided by Company. All information contained in any form or
communication sent or given to Company by or on behalf of Servicer shall be
true, correct and complete.
(b) USE OF PURCHASER'S NAME. Servicer shall confine its use of Company's
name and logo to those uses specifically authorized in this Agreement. In no
instance may Servicer use Company's name or logo to obtain any mortgage-related
services.
3
<PAGE>
(c) NO SOLICITATION Neither Servicer nor any of Servicer's affiliates
shall specifically target any Mortgage Loan serviced on behalf of Company for
refinance or target the Mortgagor relating to any such Mortgage Loan for the
sale of any other financial products. Servicer and Servicer's affiliates may
promote the terms they have for refinancings or other financial products by
sending letters or promotional materials to the Mortgagors for (i) all
mortgage loans serviced by Servicer, (ii) specific types of mortgage loans
(such as FHA-insured, VA-guaranteed, conventional fixed rate, or conventional
adjustable rate) serviced by Servicer or (iii) all mortgage loans with
interest rates which fall within specific ranges serviced by Servicer.
Neither Servicer nor any of Servicer's affiliates may, however, treat the
Mortgage Loans as a different class of mortgage loans for the purposes of
advertising the availability of refinancing terms or other financial
products. Furthermore, neither Servicer nor any of Servicer's affiliates
will transfer or otherwise disclose any information with respect to the
Mortgage Loans, or assist any other person or entity in making a direct
solicitation of the related Mortgagors.
(d) INSPECTION OF RECORDS. Servicer shall permit Company and its agents
during normal business hours to inspect all books and records of Servicer
pertaining to its mortgage lending operations or any mortgage loan serviced by
Servicer on behalf of Company.
(e) COMPLETION AND TRANSMISSION OF REPORTS. Servicer shall complete and
transmit all required reports to Company in full compliance with instructions
provided by Company.
(f) SUSPENSION OR DISQUALIFICATION. Servicer shall immediately notify
Company in writing by certified mail if its servicing rights are suspended or
terminated by any institution including, but not limited to HUD, FNMA, FHLMC or
GNMA.
5. SERVICER ACKNOWLEDGMENT. Servicer acknowledges that its rights to service
the Mortgage Loans are subject to the terms and conditions of this Agreement
which includes all of the provisions of the Guide.
6. INDEMNIFICATION. Servicer shall indemnify and hold harmless Company
against and from all, losses, damages, penalties, fines, forfeitures, legal fees
and related costs, judgments and any other costs, fees and expenses incurred by
Company arising out of Servicer's breach of any representation, warranty or
covenant set forth in this Agreement. The obligations of Servicer under this
paragraph shall survive delivery of, and payment for, the Mortgage Loans,
liquidation or repurchase of the Mortgage Loans and termination of this
Agreement.
7. TERMINATION BY COMPANY. Company may terminate the privilege of Servicer to
continue to service Mortgage Loans for Company for any of the reasons set forth
in the Guide, including a change in Servicer's form of origination or a transfer
of 25% or more of the equity interest in Servicer. No such termination shall
release Servicer from any of its obligations hereunder or under the Guide or
from any liability arising hereunder or thereunder. Any forbearance or delay by
Company in exercising such rights shall not be deemed a waiver of any right and
shall not preclude the exercise of any right.
4
<PAGE>
8. ATTORNEYS' FEES. In the event of a dispute arising from or concerning an
obligation of the Servicer or Company under this Agreement which results in
litigation, the prevailing party to such litigation shall be indemnified by the
other party for all costs and expenses in bringing or defending such action.
9. DELEGATION OF SERVICING RESPONSIBILITIES. Servicer may not, without the
prior written approval of the Company (which approval shall not be unreasonably
withheld), delegate any of Servicer's duties or obligations hereunder to a third
party. In the event that Company permits any such delegation, Servicer shall
continue to remain liable hereunder for the performance of the delegated duties
or obligations.
10. MISCELLANEOUS.
(a) NOTICES. All notices, requests, demands and other communications
which are required or permitted to be given under this Agreement shall be in
writing and shall be deemed to have been duly given upon the delivery or mailing
thereof, as the case may be, sent by registered or certified mail, return
receipt requested, postage prepaid.
(a) If to the Company, to:
PNC Mortgage Securities Corp.
75 North Fairway Drive
Vernon Hills, IL 60015
ATTN: Legal Services Department
(b) If to Servicer, to:
PNC Mortgage Corp. of America
75 N. Fairway Drive
Vernon Hills, IL 60015
ATTN: Legal Services Department
or to such other address as the Company or Servicer shall have
specified in writing to the other.
(b) WAIVERS. Either the Company or Servicer may, by written notice to the
other:
(i) extend the time for the performance of any of the obligations or
other transactions of the other party; or
(ii) waive compliance with any of the terms, conditions or covenants
required to be complied with by the other party hereunder.
The waiver by any party hereto of a breach of any provision of this
Agreement shall not operate or be construed as a waiver of any other subsequent
breach.
5
<PAGE>
(c) ENTIRE AGREEMENT; AMENDMENT. This Agreement constitutes the entire
agreement between the parties with respect to the servicing of the Mortgage
Loans and supersedes all prior agreements with respect thereto. This Agreement
may be amended but only in writing signed by the party against whom such
amendment is sought to be enforced.
(d) BINDING EFFECT. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their successors and assigns. Nothing in
this Agreement, express or implied, is intended to confer on any person other
than the parties hereto and their successors and assigns, any rights,
obligations, remedies or liabilities.
(e) HEADINGS. Headings on the Articles and Sections in this Agreement are
for reference purposes only and shall not be deemed to have any substantive
effect.
(f) APPLICABLE LAWS. This Agreement shall be construed in accordance with
the laws of the State of Illinois.
(g) INCORPORATION OF EXHIBITS. All Exhibits attached hereto shall be
incorporated herein and shall be understood to be a part hereof as though
included in the body of this Agreement.
IN WITNESS WHEREOF, each of the undersigned parties to this Agreement has
caused this Agreement to be duly executed in its corporate name by one of its
duly authorized officers, all as of the date first above written.
PNC MORTGAGE SECURITIES CORP.
-----------------------------------
Attest: By:
---------------------------
Its:
---------------------------
- ---------------------------
PNC MORTGAGE CORP. OF AMERICA
-----------------------------------
Attest: By:
---------------------------
Its:
---------------------------
- ---------------------------
6
<PAGE>
Exhibit F
FORM OF TRANSFEROR CERTIFICATE FOR
CLASS I-R AND CLASS II-R CERTIFICATES
[Date]
U.S. Bank National Association, as Trustee
180 East 5th Street, SPFT0210
St. Paul, MN 55101
Re: PURCHASE OF PNC MORTGAGE SECURITIES CORP. MORTGAGE PASS-THROUGH
CERTIFICATES SERIES 1997-6, CLASS [I-R] [II-R] (the "Certificates")
Ladies and Gentlemen:
In connection with our disposition of the above Certificates we certify
that (a) we understand the Certificates have not been registered under the
Securities Act of 1933, as amended (the "Act") and are being disposed by us in a
transaction that is exempt from the registration requirements of the Act, and
(b) we have not offered or sold any certificates to, or solicited offers to buy
any Certificates from, any person, or otherwise approached or negotiated with
any person with respect thereto, or taken any other action which would result in
a violation of Section 5 of the Act.
Very truly yours,
[Name of Transferor]
By:______________________
Authorized Officer
F-1
<PAGE>
Exhibit G
FORM OF TRANSFEREE'S AGREEMENT FOR CLASS II-R, AND CLASS II-R CERTIFICATES
[Date]
U.S. Bank National Association
180 East 5th Street, SPFT0210
St. Paul, MN 55101
PNC Mortgage Securities Corp.
75 N. Fairway Drive
Vernon Hills, Illinois 60061
The undersigned (the "Purchaser") proposes to purchase [Class I-R] [Class
II-R] Certificates evidencing an undivided interest in PNC Mortgage Securities
Corp. Mortgage Pass-Through Certificates, Series 1997-6 (the "Purchased
Certificates") in the principal amount of $______________. In doing so, the
Purchaser hereby acknowledges and agrees as follows:
1. Definitions. Each capitalized term used herein and not otherwise
defined herein shall have the meaning ascribed to it in the Pooling and
Servicing Agreement, dated as of September 1, 1997 (the "Pooling Agreement"),
between PNC Mortgage Securities Corp. ("PNC), U.S. Bank National Association, as
trustee (the "Trustee"), and PNC Bank, National Association (the "Bank")
regarding the PNC Mortgage Securities Corp. Mortgage Pass-Through Certificates,
Series 1997-6.
2. Representations and Warranties of the Purchaser. In connection with
the proposed transfer, the Purchaser represents and warrants to PNC and the
Trustee that:
a. The Purchaser is duly organized, validly existing and in
good standing under the laws of the jurisdiction in which the Purchaser is
organized, is authorized to invest in the Purchased Certificates, and to
enter into this Agreement, and duly executed and delivered this Agreement;
b. The Purchaser is acquiring the Purchased Certificates for
its own account as principal and not with a view to the distribution thereof,
in whole or in part;
c. The Purchaser is an "accredited investor" as such term is
defined in paragraph (a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) of Section 501
of Regulation D under the Securities Act of 1933, as amended (the "Act"), has
knowledge of financial and business matters and is capable of evaluating the
merits and risks of an investment in the Purchased Certificates; the
Purchaser has sought such accounting, legal and tax advice as it has
considered necessary to make an informed investment decision; and the
Purchaser is able to bear the economic risk of an investment in the Purchased
Certificates and can afford a complete loss of such investment;
d. The Purchaser is not affiliated with the Trustee;
e. The Purchaser confirms that PNC has made available to the
Purchaser the opportunity to ask questions of, and receive answers from PNC
concerning the Trust, the purchase by the Purchaser of the Purchased
Certificates and all matters relating thereto that PNC possesses or can
acquire without unreasonable effort or expense; and
G-1
<PAGE>
f. If applicable, the Purchaser has complied, and will
continue to comply, with the guidelines established by Thrift Bulletin 12
issued December 13, 1988, by the Office of Regulatory Activities of the
Federal Home Loan Bank System; and
g. The Purchaser will provide the Trustee and the Master
Servicer with affidavits substantially in the form of Exhibit A attached
hereto.
3. Transfer of Purchased Certificates.
a. The Purchaser understands that the Purchased Certificates
have not been registered under the Act, or any state securities laws and that
no transfer may be made unless the Purchased Certificates are registered
under the Act and under applicable state law or unless an exemption from
registration is available. The Purchaser further understands that neither PNC
nor the Trust is under any obligation to register the Purchased Certificates
or make an exemption available. In the event that such a transfer is to be
made within two years from the Closing Date without registration under the
Act or applicable state securities laws, (i) the Trustee shall require, in
order to assure compliance with such laws, that the Certificateholder's
prospective transferee each certify to PNC and the Trustee as to the factual
basis for the registration or qualification exemption relied upon, and (ii)
the Trustee or PNC may require an Opinion of Counsel that such transfer may
be made pursuant to an exemption from the Act and state securities laws,
which Opinion of Counsel shall not be an expense of the Trustee or PNC. Any
such Certificateholder desiring to effect such transfer shall, and does
hereby agree to, indemnify the Trustee and PNC against any liability that may
result if the transfer is not so exempt or is not made in accordance with
such federal and state laws.
b. No transfer of a Purchased Certificate shall be made
unless the transferee provides PNC and the Trustee with (i) a Transferee's
Agreement, substantially in the form of this Agreement, and (ii) either (a)
an affidavit substantially in the form of Exhibit A hereto that the proposed
transferee is not an employee benefit plan or other plan or arrangement
subject to the prohibited transaction provisions of ERISA or Section 4975 of
the Internal Revenue Code of 1986, as amended, or comparable provisions of
any subsequent enactments (a "Plan"), a trustee of any Plan, or any other
Person who is using the "plan assets" of any Plan to effect such acquisition
or (b) a Benefit Plan Opinion (as defined in Exhibit A hereto).
c. The Purchaser acknowledges that its Purchased Certificates
bear a legend setting forth the applicable restrictions on transfer.
G-2
<PAGE>
IN WITNESS WHEREOF, the undersigned has caused this Agreement to be validly
executed by its duly authorized representative as of the day and the year first
above written.
[Purchaser]
By:____________________________
Its:___________________________
G-3
<PAGE>
Exhibit A to Form of Transferee Agreement (Exhibit G)
PNC MORTGAGE SECURITIES CORP.
BENEFIT PLAN AFFIDAVIT
RE: PNC MORTGAGE SECURITIES CORP. MORTGAGE PASS-THROUGH CERTIFICATES,
SERIES 1997-6 (THE "TRUST") [CLASS I-R] [CLASS II-R] CERTIFICATES (THE
"PURCHASED CERTIFICATES")
Under penalties of perjury, I, _____________________, declare that, to the
best of my knowledge and belief, the following representations are true, correct
and complete; and
1. That I am the _______________ of __________________ (the
"Purchaser"), whose taxpayer identification number is ___________, and on
behalf of which I have the authority to make this affidavit.
2. That the Purchaser is acquiring a Purchased Certificate representing
an interest in the Trust.
3. That the Purchaser (i) is not an employee benefit plan or other plan
or arrangement subject to the prohibited transaction provisions of the
Employee Retirement Income Security Act of 1974, as amended ("ERISA") or
Section 4975 of the Internal Revenue Code of 1986, as amended (the "Code"),
or comparable provisions of any subsequent enactments (a "Plan"), a trustee
of any Plan, or any other Person who is using the "plan assets" of any Plan
to effect such acquisition, or (ii) has provided a "Benefit Plan Opinion"
satisfactory to PNC Mortgage Securities Corp. (the "Company"), the
Certificate Insurer and the Trustee of the Trust. A Benefit Plan Opinion is
an opinion of counsel to the effect that the proposed transfer (a) is
permissible under applicable law, (b) will not constitute or result in a
non-exempt prohibited transaction under Section 406 of ERISA or Section 4975
of the Code, and (c) will not subject the Trustee, the Master Servicer, the
Certificate Insurer or the Company to any obligation or liability (including
obligations or liabilities under Section 406 of ERISA or Section 4975 of the
Code) in addition to those undertaken in this Agreement, which Benefit Plan
Opinion shall not be an expense of the Trustee, the Master Servicer, the
Certificate Insurer or the Company.
IN WITNESS WHEREOF, the Purchaser has caused this instrument to be duly
executed on its behalf, by its duly authorized officer this _____ day of
__________________, 199__.
[Purchaser]
By:
--------------------------------
Its:
-------------------------------
Personally appeared before me ______________________, known or proved to
me to be the same person who executed the foregoing instrument and to be a
________________ of the Purchaser, and acknowledged to me that (s)he executed
the same as his/her free act and deed and as the free act and deed of the
Purchaser.
SUBSCRIBED and SWORN to before me
this day of ____________, 19__.
G-4
<PAGE>
_______________________________
Notary Public
G-5
<PAGE>
Exhibit I
TRANSFEROR CERTIFICATE
[Date]
U.S. Bank National Association, as Trustee
180 East 5th Street, SPFT0210
St. Paul, MN 55101
Attn: Structured Finance
Re: PNC Mortgage Securities Corp. Mortgage Pass-Through Certificates,
Series1997-6, Class [I-R] [II-R]
Ladies and Gentlemen:
This letter is delivered to you in connection with the sale by
(the "Seller") to
(the "Purchaser") of $____________________ initial Certificate Principal
Balance of Mortgage Pass-Through Certificates, Series 1997-6, Class [I-R]
[II-R] (the "Certificate"), pursuant to Section 5.01 of the Pooling and
Servicing Agreement (the "Pooling Agreement"), dated as of September 1, 1997
among PNC Mortgage Securities Corp., as depositor and master servicer (the
"Company"), and U.S. Bank National Association, as trustee (the "Trustee")
and PNC Bank, National Association (the "Bank"). All terms used herein and
not otherwise defined shall have the meanings set forth in the Pooling
Agreement. The Seller hereby certifies, represents and warrants to, and
covenants with, the Company and the Trustee that:
1. No purpose of the Seller relating to the sale of the Certificate by
the Seller to the Purchaser is or will be to enable the Seller to impede the
assessment or collection of tax.
2. The Seller understands that the Purchaser has delivered to the
Trustee and the Company a transferee affidavit and agreement in the form
attached to the Pooling Agreement as Exhibit J. The Seller does not know or
believe that any representation contained therein is false.
3. The Seller has no actual knowledge that the proposed Transferee is not
a Permitted Transferee.
4. The Seller has no actual knowledge that the Purchaser would be
unwilling or unable to pay taxes due on its share of the taxable income
attributable to the Certificates.
5. The Seller has conducted a reasonable investigation of the financial
condition of the Purchaser and, as a result of the investigation, found that
the Purchaser has historically paid its debts as they came due, and found no
significant evidence to indicate that the Purchaser will not continue to pay
its debts as they come due in the future.
6. The Purchaser has represented to the Seller that, if the
Certificates constitute a noneconomic residual interest, it (i) understands
that as holder of a noneconomic residual interest it may incur tax
liabilities in excess of any cash flows generated by the interest, and (ii)
intends to pay taxes associated with its holding of the Certificates as they
become due.
I-1
<PAGE>
Very truly yours,
[Seller]
By: ____________________________________
Name: _________________________________
Title: __________________________________
I-2
<PAGE>
Exhibit J
TRANSFEREE AFFIDAVIT AND AGREEMENT
STATE OF )
) ss:
COUNTY OF )
[NAME OF OFFICER], being first duly sworn, deposes and says:
1. That he is [Title of Officer] of [Name of Owner] (record or
beneficial owner of the Class [I-R] [II-R] Certificate (the "Owner")), a
[savings institution] [corporation] duly organized and existing under the
laws of [the State of ] [the United States], on
behalf of which he makes this affidavit and agreement.
2. That the Owner (i) is not and will not be a "disqualified
organization" as of [date of transfer] within the meaning of Section
860E(e)(5) of the Internal Revenue Code of 1986, as amended (the "Code") and
will endeavor to remain other than a disqualified organization for so long as
it retains its ownership interest in the Class [I-R] [II-R] Certificates, and
(ii) is acquiring the Class [I-R] [II-R] Certificates for its own account or
for the account of another Owner from which it has received an affidavit and
agreement in substantially the same form as this affidavit and agreement.
(For this purpose, a "disqualified organization" means the United States, any
state or political subdivision thereof, or any agency or instrumentality of
any of the foregoing (other than an instrumentality all of the activities of
which are subject to tax and, except for the Federal Home Loan Mortgage
Corporation, a majority of whose board of directors is not selected by any
such governmental entity, or any foreign government or international
organization, or any agency or instrumentality of such foreign government or
organization, any rural electric or telephone cooperative, or any
organization (other than certain farmers' cooperatives) that is generally
exempt from federal income tax unless such organization is subject to the tax
on unrelated business taxable income).
3. That the Owner is aware (i) of the tax that would be imposed on
transfers of the Class [I-R] [II-R] Certificates after March 31, 1988; (ii)
that such tax would be on the transferor, or, if such transfer is through an
agent (which person includes a broker, nominee or middleman) for a
disqualified organization, on the agent; (iii) that the person otherwise
liable for the tax shall be relieved of liability for the tax if the
transferee furnishes to such person an affidavit that the transferee is not a
disqualified organization and, at the time of transfer, such person does not
have actual knowledge that the affidavit is false; and (iv) that the Class
[I-R] [II-R] Certificates may be a "noneconomic residual interest" within the
meaning of Treasury regulations promulgated pursuant to the Code and that the
transferor of a noneconomic residual interest will remain liable for any
taxes due with respect to the income on such residual interest, if a
significant purpose of the transfer was to enable the transferor to impede
the assessment or collection of tax.
4. That the Owner is aware of the tax imposed on a "pass-through
entity" holding the Class [I-R] [II-R] Certificates if at any time during the
taxable year of the pass-through entity a disqualified organization is the
record holder of an interest in such entity. (For this purpose, a "pass
through entity" includes a regulated investment company, a real estate
investment trust or common trust fund, a partnership, trust or estate, and
certain cooperatives.)
J-1
<PAGE>
5. That the Owner is aware that the Trustee will not register the
Transfer of the Class [I-R] [II-R] Certificates unless the transferee, or the
transferees' agent, delivers to it an affidavit and agreement, among other
things, in substantially the same form as this affidavit and agreement. The
Owner expressly agrees that it will not consummate any such transfer if it
knows or believes that any of the representations contained in such affidavit
and agreement are false.
6. That the Owner has reviewed the restrictions set forth on the face
of the Class [I-R] [II-R] Certificates and the provisions of Section 5.01 of
the Pooling Agreement under which the Class [I-R] [II-R] Certificates were
issued (in particular, clauses (iii)(A) and (iii)(B) of Section 5.01(c) which
authorize the Trustee to deliver payments to a person other than the Owner
and negotiate a mandatory sale by the Trustee in the event the Owner holds
such Certificates in violation of Section 5.01). The Owner expressly agrees
to be bound by and to comply with such restrictions and provisions.
7. That the Owner consents to any additional restrictions or
arrangements that shall be deemed necessary upon advice of counsel to
constitute a reasonable arrangement to ensure that the Class [I-R] [II-R]
Certificates will only be owned, directly or indirectly, by an Owner that is
not a disqualified organization.
8. The Owner's Taxpayer Identification Number is .
9. That no purpose of the Owner relating to the purchase of the Class
[I-R] [II-R] Certificates by the Owner is or will be to enable the transferor
to impede the assessment or collection of tax.
10. That the Owner has no present knowledge or expectation that it will
be unable to pay any United States taxes owed by it so long as any of the
Certificates remain outstanding.
11. That the Owner has no present knowledge or expectation that it will
become insolvent or subject to a bankruptcy proceeding for so long as any of
the Certificates remain outstanding.
12. That no purpose of the Owner relating to any sale of the Class [I-R]
[II-R] Certificates by the Owner will be to impede the assessment or
collection of tax.
13. The Owner is a citizen or resident of the United States, a
corporation, partnership or other entity created or organized in, or under
the laws of, the United States or any political subdivision thereof, or an
estate or trust whose income from sources without the United States is
includible in gross income for United States federal income tax purposes
regardless of its connection with the conduct of a trade or business within
the United States.
14. The Owner hereby agrees to cooperate with the Company and to take
any action required of it by the Code or Treasury regulations thereunder
(whether now or hereafter promulgated) in order to create or maintain the
REMIC status of the Trust Fund.
15. The Owner hereby agrees that it will not take any action that could
endanger the REMIC status of the Trust Fund or result in the imposition of
tax on the Trust Fund unless counsel for, or acceptable to, the Company has
provided an opinion that such action will not result in the loss of such
REMIC status or the imposition of such tax, as applicable.
J-2
<PAGE>
16. The Owner as transferee of the Class [I-R] [II-R] Certificates has
represented to their transferor that, if the Class [I-R] [II-R] Certificates
constitute a noneconomic residual interest, the Owner (i) understands that as
holder of a noneconomic residual interest it may incur tax liabilities in
excess of any cash flows generated by the interest, and (ii) intends to pay
taxes associated with its holding of the Class [I-R] [II-R] Certificates as
they become due.
IN WITNESS WHEREOF, the Owner has caused this instrument to be executed
on its behalf, pursuant to the authority of its Board of Directors, by its
[Title of Officer] and its corporate seal to be hereunto attached, attested
by its [Assistant] Secretary, this day of , 19 .
[Name of Owner]
By:
[Name of Officer]
[Title of Officer]
[Corporate Seal]
ATTEST:
[Assistant] Secretary
Personally appeared before me the above-named [Name of Officer], known
or proved to me to be the same person who executed the foregoing instrument
and to be the [Title of Officer] of the Owner, and Acknowledged to me that he
executed the same as his free act and deed and the free act and deed of the
Owner.
Subscribed and sworn before me this day of , 19 .
NOTARY PUBLIC
COUNTY OF
STATE OF
My Commission expires the day of , 19
J-3
<PAGE>
Exhibit K
FORM OF ADDITIONAL MATTER INCORPORATED INTO
THE FORM OF THE CERTIFICATES
This Certificate does not represent an obligation of or interest in PNC
Mortgage Securities Corp. or any of its affiliates, including PNC Bank Corp.
Neither this Certificate nor the underlying Mortgage Loans are guaranteed by
any agency or instrumentality of the United States.
This certifies that the above-named Registered Owner is the registered
owner of certain interests in a trust fund (the "Trust Fund") whose assets
consist of, among other things, a pool (the "Mortgage Pool") of conventional
one- to four-family mortgage loans (the "Mortgage Loans"), formed and
administered by PNC Mortgage Securities Corp. (the "Company"), which term
includes any successor entity under the Pooling Agreement referred to below.
The Mortgage Pool was created pursuant to a Pooling and Servicing Agreement,
dated as of the Cut-Off Date stated above (the "Pooling Agreement"), between
the Company and U.S. Bank National Association, as Trustee (the "Trustee"), a
summary of certain of the pertinent provisions of which is set forth
hereafter. To the extent not defined herein, the capitalized terms used
herein have the meanings assigned in the Pooling Agreement. Nothing herein
shall be deemed inconsistent with such meanings, and in the event of any
conflict between the Pooling Agreement and the terms of this Certificate, the
Pooling Agreement shall control. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Pooling Agreement, to
which Pooling Agreement the Holder of this Certificate, by virtue of the
acceptance hereof, assents and by which such Holder is bound.
Distributions will be made, pursuant to the Pooling Agreement, on the
25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on
the first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last day (or if
such last day is not a Business Day, the Business Day immediately preceding
such last day) of the month immediately preceding the month of such
distribution (the "Record Date"), to the extent of such Certificateholder's
Percentage Interest represented by this Certificate in the portion of the
Available Distribution Amount for such Distribution Date then distributable
on the Certificates of this Class, as specified in Section 4.01 of the
Pooling Agreement.
The Holder of this Certificate will have the option (the "Put Option") to
require the Bank to purchase such Certificate during the 30 day period ending on
the second Distribution Date preceding the Put Date as defined in the Pooling
Agreement for the purchase price set forth in the Pooling Agreement. If the Put
Option is exercised with respect to more than 90% of the outstanding Class
Principal Balance of the applicable Class of Certificates, the Bank will have
the option to purchase on the same terms all of the outstanding Certificates of
such Class, including Certificates with respect to which the Certificateholder
has not exercised the Put Option.
Distributions on this Certificate will be made by the Trustee by wire
transfer or check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register. Notwithstanding the
above, the final distribution on this Certificate will be made after due notice
by the Trustee of the pendency of such distribution and only upon presentation
and surrender of this Certificate to the Certificate Registrar.
K-1
<PAGE>
Reference is hereby made to the further provisions of this Certificate
set forth below, which further provisions shall for all purposes have the
same effect as if set forth at this place.
Unless the certificate of authentication hereon has been executed by or
on behalf of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling Agreement or be valid for any
purpose.
K-2
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.
U.S. BANK NATIONAL ASSOCIATION, as Trustee
By:
---------------------------------------
(TRUSTEE'S CERTIFICATE OF AUTHENTICATION)
This is one of the Certificates referred to in the within-mentioned
Pooling Agreement.
U.S. BANK NATIONAL
ASSOCIATION, as Trustee
---------------------------------------
By:
---------------------------------------
Dated:
K-3
<PAGE>
PNC MORTGAGE SECURITIES CORP.
MORTGAGE PASS-THROUGH CERTIFICATE
This Certificate is one of a duly authorized issue of Certificates
designated as Mortgage Pass-Through Certificates of the Series and Class
specified hereon (herein called the "Certificates") and representing certain
interests in the Trust Fund.
The Certificates do not represent an obligation of, or an interest in,
the Company or any of its affiliates and are not insured or guaranteed by any
governmental agency. The Certificates are limited in right of payment to
certain collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth herein and in the Pooling Agreement. In the event
Company funds are advanced with respect to any Mortgage Loan, such advance is
reimbursable to the Company from the related recoveries on such Mortgage Loan
or from other cash deposited in the Certificate Account to the extent that
such advance is not otherwise recoverable.
As provided in the Pooling Agreement, withdrawals from the Certificate
Account may be made by the Company from time to time for purposes other than
distributions to Certificateholders, such purposes including reimbursement to
the Company of advances made, or certain expenses incurred, by it.
The Pooling Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of
the Company and the rights of the Certificateholders under the Pooling
Agreement at any time by the Company and the Trustee with the consent of the
Holders of the Certificates evidencing Percentage Interests aggregating not
less than 66% of the Trust Fund. For the purposes of such provision and
except as provided below, voting rights relating to 100% of the Aggregate
Certificate Principal Balance will be allocated pro rata (by Certificate
Principal Balance) among such Certificates. Any such consent by the Holder of
this Certificate shall be conclusive and binding on such Holder and upon all
future Holders of this Certificate and of any Certificate issued upon the
transfer hereof or in exchange herefor or in lieu hereof whether or not
notation of such consent is made upon this Certificate. The Pooling Agreement
also permits the amendment thereof, in certain limited circumstances, without
the consent of the Holders of any of the Certificates.
As provided in the Pooling Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar or the office maintained
by the Trustee in the City and State of New York, duly endorsed by, or
accompanied by an assignment in the form below or other written instrument of
transfer in form satisfactory to the Trustee or any Authenticating Agent duly
executed by, the Holder hereof or such Holder's attorney duly authorized in
writing, and thereupon one or more new Certificates of Authorized
Denominations evidencing the same Percentage Interest set forth hereinabove
will be issued to the designated transferee or transferees.
No transfer of a Certificate will be made unless such transfer is exempt
from or is made in accordance with the registration requirements of the
Securities Act of 1933, as amended (the "Securities Act") and any applicable
state securities laws. In the event that a transfer is to be made without
registration or qualification under applicable laws, (i) in the event such
transfer is made pursuant to Rule 144A under the Securities Act, the Company
and the Trustee shall require the transferee to execute an investment letter
in substantially the form attached as Exhibit L to the Pooling Agreement,
which investment letter shall not be
K-4
<PAGE>
an expense of the Company, the Master Servicer or the Trustee and (ii) in the
event that such a transfer is not made pursuant to Rule 144A under the
Securities Act, the Company may require an Opinion of Counsel satisfactory to
the Company that such transfer may be made without such registration or
qualification, which Opinion of Counsel shall not be an expense of the
Company, the Master Servicer or the Trustee. Neither the Company nor the
Trustee will register the Certificate under the Securities Act, qualify the
Certificate under any state securities law or provide registration rights to
any purchaser. Any Holder desiring to effect such transfer shall, and does
hereby agree to, indemnify the Trustee, the Company and the Master Servicer
against any liability that may result if the transfer is not so exempt or is
not made in accordance with such federal and state laws.
The Certificates are issuable only as registered Certificates without
coupons in Authorized Denominations specified in the Pooling Agreement. As
provided in the Pooling Agreement and subject to certain limitations therein
set forth, Certificates are exchangeable for new Certificates of Authorized
Denominations evidencing the same aggregate interest in the portion of the
Available Distribution Amount distributable on this Class of Certificate, as
requested by the Holder surrendering the same.
A reasonable service charge may be made for any such registration of
transfer or exchange, and the Trustee may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection
therewith.
The Company, the Trustee and the Certificate Registrar and any agent of
the Company, the Trustee or the Certificate Registrar may treat the Person in
whose name this Certificate is registered as the owner hereof for all
purposes, and neither the Company, the Trustee, the Certificate Registrar nor
any such agent shall be affected by notice to the contrary.
The obligations created by the Pooling Agreement and the Trust Fund
created thereby shall terminate upon (i) the later of the maturity or other
liquidation (including repurchase by the Company) of the last Mortgage Loan
remaining in the Trust Fund or the disposition of all property acquired upon
foreclosure or deed in lieu of foreclosure of any Mortgage Loan, and (ii) the
payment to Certificateholders of all amounts held by the Trustee and required
to be paid to them pursuant to the Pooling Agreement. In the event that the
Company repurchases any Mortgage Loan pursuant to the Pooling Agreement, such
Pooling Agreement requires that the Trustee distribute to the
Certificateholders in the aggregate an amount equal to 100% of the unpaid
Principal Balance of such Mortgage Loan, plus accrued interest at the
applicable Pass-Through Rate to the next scheduled Due Date for the Mortgage
Loan. The Pooling Agreement permits, but does not require, the Company to
repurchase from the Trust Fund all Mortgage Loans at the time subject thereto
and all property acquired in respect of any Mortgage Loan upon payment to the
Certificateholders of the amounts specified in the Pooling Agreement. The
exercise of such right will effect early retirement of the Certificates, the
Company's right to repurchase being subject to the aggregate unpaid Principal
Balance of the Mortgage Loans at the time of repurchase being less than ten
percent (10%) of the aggregate unpaid Principal Balance of the Mortgage Loans
as of the Cut-Off Date.
K-5
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s) and assign(s) and
transfer(s) unto
(Please print or typewrite name and address, including postal zip code of
assignee. Please insert social security or other identifying number of
assignee.)
the within Mortgage Pass-Through Certificate and hereby irrevocably
constitutes and appoints __
Attorney to transfer said Certificate on the Certificate Register, with full
power of substitution in the premises.
Dated:
------------- ---------------------------------------------------------
Signature Guaranteed
---------------------------------------------------------
NOTICE: The signature to this assignment must correspond
with the name as written upon the face of the
within instrument in every particular, without
alteration or enlargement or any change
whatever.
K-6
<PAGE>
EXHIBIT L
[FORM OF RULE 144A INVESTMENT REPRESENTATION]
Description of Rule 144A Securities, including numbers:
--------------------------------------------------------
--------------------------------------------------------
--------------------------------------------------------
--------------------------------------------------------
The undersigned seller, as registered holder (the "Seller"), intends to
transfer the Rule 144A Securities described above to the undersigned buyer
(the "Buyer").
1. In connection with such transfer and in accordance with the agreements
pursuant to which the Rule 144A Securities were issued, the Seller hereby
certifies the following facts: Neither the Seller nor anyone acting on its
behalf has offered, transferred, pledged, sold or otherwise disposed of the
Rule 144A Securities, any interest in the Rule 144A Securities or any other
similar security to, or solicited any offer to buy or accept a transfer,
pledge or other disposition of the Rule 144A Securities, any interest in the
Rule 144A Securities or any other similar security from, or otherwise
approached or negotiated with respect to the Rule 144A Securities, any
interest in the Rule 144A Securities or any other similar security with, any
person in any manner, or made any general solicitation by means of general
advertising or in any other manner, or taken any other action, that would
constitute a distribution of the Rule 144A Securities under the Securities
Act of 1933, as amended (the "1933 Act"), or that would render the
disposition of the Rule 144A Securities a violation of Section 5 of the 1933
Act or require registration pursuant thereto, and that the Seller has not
offered the Rule 144A Securities to any person other than the Buyer or
another "qualified institutional buyer" as defined in Rule 144A under the
1933 Act.
2. The Buyer warrants and represents to, and covenants with, the Seller,
the Trustee and the Master Servicer (as defined in the Pooling and Servicing
Agreement (the "Agreement") dated as of April 1, 1997 between PNC Mortgage
Securities Corp., as Depositor and Master Servicer, and U.S. Bank National
Association, as Trustee) pursuant to Section 5.01(f) of the Agreement, as
follows:
a. The Buyer understands that the Rule 144A Securities have not been
registered under the 1933 Act or the securities laws of any state.
b. The Buyer considers itself a substantial, sophisticated
institutional investor having such knowledge and experience in financial and
business matters that it is capable of evaluating the merits and risks of
investment in the Rule 144A Securities.
c. The Buyer has received and reviewed the Private Placement Memorandum
dated as of April 30, 1997 relating to the Rule 144A Securities and has been
furnished with all information regarding the Rule 144A Securities that it
has requested from the Seller, the Trustee, the Company or the Master
Servicer.
L-1
<PAGE>
d. Neither the Buyer nor anyone acting on its behalf has offered,
transferred, pledged, sold or otherwise disposed of the Rule 144A
Securities, any interest in the Rule 144A Securities or any other similar
security to, or solicited any offer to buy or accept a transfer, pledge or
other disposition of the Rule 144A Securities, any interest in the Rule 144A
Securities or any other similar security from, or otherwise approached or
negotiated with respect to the Rule 144A Securities, any interest in the
Rule 144A Securities or any other similar security with, any person in any
manner, or made any general solicitation by means of general advertising or
in any other manner, or taken any other action, that would constitute a
distribution of the Rule 144A Securities under the 1933 Act or that would
render the disposition of the Rule 144A Securities a violation of Section 5
of the 1933 Act or require registration pursuant thereto, nor will it act,
nor has it authorized or will it authorize any person to act, in such manner
with respect to the Rule 144A Securities.
e. The Buyer is a "qualified institutional buyer" as that term is
defined in Rule 144A under the 1933 Act and has (1) completed either of the
forms of certification to that effect attached hereto as Annex 1 or Annex 2,
or (2) obtained the waiver of the Company with respect to Annex 1 and Annex
2 pursuant to Section 5.01(f) of the Agreement. The Buyer is aware that the
sale to it is being made in reliance on Rule 144A. The Buyer is acquiring
the Rule 144A Securities for its own account or the accounts of other
qualified institutional buyers, understands that such Rule 144A Securities
may be resold, pledged or transferred only (i) to a person reasonably
believed to be a qualified institutional buyer that purchases for its own
account or for the account of a qualified institutional buyer to whom notice
is given that the resale, pledge or transfer is being made in reliance on
Rule 144A, or (ii) pursuant to another exemption from registration under the
1933 Act.
f. The Buyer is not affiliated with (i) the Trustee or (ii) any Rating
Agency that rated the Rule 144A Securities.
g. If applicable, the Buyer has complied, and will continue to comply,
with the guidelines established by Thrift Bulletin 12 issued December 13,
1988, by the Office of Regulatory Activities of the Federal Home Loan Bank
System.
This document may be executed in one or more counterparts and by the
different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original; such counterparts, together, shall
constitute one and the same document.
IN WITNESS WHEREOF, each of the parties has executed this document as of
the date set forth below.
- ----------------------------- --------------------------------
Print Name of Seller Print Name of Buyer
By: By:
-------------------------- --------------------------------
Name: Name:
Title: Title:
Taxpayer Identification: Taxpayer Identification:
No. No.
-------------------------- ------------------------------
L-2
<PAGE>
Date: Date:
-------------------------- ---------------------------
L-3
<PAGE>
ANNEX 1 TO EXHIBIT L
QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
[For Buyers Other Than Registered Investment Companies]
The undersigned hereby certifies as follows in connection with the Rule
144A Investment Representation to which this Certification is attached:
1. As indicated below, the undersigned is the President, Chief Financial
Officer, Senior Vice President or other executive officer of the Buyer.
2. In connection with purchases by the Buyer, the Buyer is a "qualified
institutional buyer" as that term is defined in Rule 144A under the
Securities Act of 1933 ("Rule 144A") because (i) the Buyer owned and/or
invested on a discretionary basis $______________________(1) in securities
(except for the excluded securities referred to below) as of the end of the
Buyer's most recent fiscal year (such amount being calculated in accordance
with Rule 144A) and (ii) the Buyer satisfies the criteria in the category
marked below.
_____ CORPORATION, ETC. The Buyer is a corporation (other than a bank,
savings and loan association or similar institution), Massachusetts or
similar business trust, partnership, or charitable organization
described in Section 501(c)(3) of the Internal Revenue Code.
_____ BANK. The Buyer (a) is a national bank or banking institution
organized under the laws of any State, territory or the District of
Columbia, the business of which is substantially confined to banking
and is supervised by the State or territorial banking commission or
similar official or is a foreign bank or equivalent institution, and
(b) has an audited net worth of at least $25,000,000 as demonstrated
in its latest annual financial statements, A COPY OF WHICH IS ATTACHED
HERETO.
_____ SAVINGS AND LOAN. The Buyer (a) is a savings and loan association,
building and loan association, cooperative bank, homestead association
or similar institution, which is supervised and examined by a State or
Federal authority having supervision over any such institutions or is
a foreign savings and loan association or equivalent institution and
(b) has an audited net worth of at least $25,000,000 as demonstrated
in its latest annual financial statements.
_____ BROKER-DEALER. The Buyer is a dealer registered pursuant to Section 15
of the Securities Exchange Act of 1934.
_____ INSURANCE COMPANY. The Buyer is an insurance company whose primary and
predominant business activity is the writing of insurance or the
reinsuring of risks underwritten by
- ---------------------
(1) Buyer must own and/or invest on a discretionary basis at least $100,000
in securities unless Buyer is a dealer, and, in that case, Buyer must own
and/or invest on a discretionary basis at least $10,000,000 in securities.
L-1-1
<PAGE>
insurance companies and which is subject to supervision by the
insurance commissioner or a similar official or agency of a State or
territory or the District of Columbia.
_____ STATE OR LOCAL PLAN. The Buyer is a plan established and maintained by
a State, its political subdivisions, or any agency or instrumentality
of the State or its political subdivisions, for the benefit of its
employees.
_____ ERISA PLAN. The Buyer is an employee benefit plan within the meaning
of Section 3(3) of the Employee Retirement Income Security Act of
1974, as amended ("ERISA") and is subject to the fiduciary
responsibility provisions of ERISA.
_____ INVESTMENT ADVISER. The Buyer is an investment adviser registered
under the Investment Advisers Act of 1940.
_____ SBIC. The Buyer is a Small Business Investment Company licensed by
the U.S. Small Business Administration under Section 301(c) or (d) of
the Small Business Investment Act of 1958.
_____ BUSINESS DEVELOPMENT COMPANY. The Buyer is a business development
company as defined in Section 202(a)(22) of the Investment Advisers
Act of 1940.
_____ TRUST FUND. The Buyer is a trust fund whose trustee is a bank or trust
company and whose participants are exclusively (a) plans established
and maintained by a State, its political subdivisions, or any agency
or instrumentality of the State or its political subdivisions, for the
benefit of its employees, or (b) employee benefit plans within the
meaning of Title I of the Employee Retirement Income Security Act of
1974, but is not a trust fund that includes as participants individual
retirement accounts or H.R. 10 plans.
3. The term "SECURITIES" as used herein DOES NOT INCLUDE (i) securities
of issuers that are affiliated with the Buyer, (ii) securities that are part
of an unsold allotment to or subscription by the Buyer, if the Buyer is a
dealer, (iii) bank deposit notes and certificates of deposit, (iv) loan
participations, (v) repurchase agreements, (vi) securities owned but subject
to a repurchase agreement and (vii) currency, interest rate and commodity
swaps.
4. For purposes of determining the aggregate amount of securities owned
and/or invested on a discretionary basis by the Buyer, the Buyer used the
cost of such securities to the Buyer and did not include any of the
securities referred to in the preceding paragraph. Further, in determining
such aggregate amount, the Buyer may have included securities owned by
subsidiaries of the Buyer, but only if such subsidiaries are consolidated
with the Buyer in its financial statements prepared in accordance with
generally accepted accounting principles and if the investments of such
subsidiaries are managed under the Buyer's direction. However, such
securities were not included if the Buyer is a majority-owned, consolidated
subsidiary of another enterprise and the Buyer is not itself a reporting
company under the Securities Exchange Act of 1934.
5. The Buyer acknowledges that it is familiar with Rule 144A and
understands that the seller to it and other parties related to the
Certificates are relying and will continue to rely on the statements made
herein because one or more sales to the Buyer may be in reliance on Rule 144A.
L-1-2
<PAGE>
___ ___ Will the Buyer be purchasing the Rule 144A
Yes No Securities only for the Buyer's own account?
6. If the answer to the foregoing question is "no", the Buyer agrees
that, in connection with any purchase of securities sold to the Buyer for the
account of a third party (including any separate account) in reliance on Rule
144A, the Buyer will only purchase for the account of a third party that at
the time is a "qualified institutional buyer" within the meaning of Rule
144A. In addition, the Buyer agrees that the Buyer will not purchase
securities for a third party unless the Buyer has obtained a current
representation letter from such third party or taken other appropriate steps
contemplated by Rule 144A to conclude that such third party independently
meets the definition of "qualified institutional buyer" set forth in Rule
144A.
7. The Buyer will notify each of the parties to which this certification
is made of any changes in the information and conclusions herein. Until such
notice is given, the Buyer's purchase of Rule 144A Securities will constitute
a reaffirmation of this certification as of the date of such purchase.
-------------------------------------
Print Name of Buyer
By:
--------------------------------
Name:
Title:
Date:
--------------------------------
L-1-3
<PAGE>
ANNEX 2 TO EXHIBIT L
QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
[For Buyers That Are Registered Investment Companies]
The undersigned hereby certifies as follows in connection with the
Rule 144A Investment Representation to which this Certification is attached:
1. As indicated below, the undersigned is the President, Chief Financial
Officer or Senior Vice President of the Buyer or, if the Buyer is a
"qualified institutional buyer" as that term is defined in Rule 144A under
the Securities Act of 1933 ("Rule 144A") because Buyer is part of a Family of
Investment Companies (as defined below), is such an officer of the Adviser.
2. In connection with purchases by Buyer, the Buyer is a "qualified
institutional buyer" as defined in SEC Rule 144A because (i) the Buyer is an
investment company registered under the Investment Company Act of 1940, and
(ii) as marked below, the Buyer alone, or the Buyer's Family of Investment
Companies, owned at least $100,000,000 in securities (other than the excluded
securities referred to below) as of the end of the Buyer's most recent fiscal
year. For purposes of determining the amount of securities owned by the Buyer
or the Buyer's Family of Investment Companies, the cost of such securities
was used.
____ The Buyer owned $_______________ in securities (other than the excluded
securities referred to below) as of the end of the Buyer's most recent
fiscal year (such amount being calculated in accordance with Rule 144A).
____ The Buyer is part of a Family of Investment Companies which owned in the
aggregate $_______________ in securities (other than the excluded
securities referred to below) as of the end of the Buyer's most recent
fiscal year (such amount being calculated in accordance with Rule 144A).
3. The term "FAMILY OF INVESTMENT COMPANIES" as used herein means two or
more registered investment companies (or series thereof) that have the same
investment adviser or investment advisers that are affiliated (by virtue of
being majority owned subsidiaries of the same parent or because one
investment adviser is a majority owned subsidiary of the other).
4. The term "SECURITIES" as used herein does not include (i) securities
of issuers that are affiliated with the Buyer or are part of the Buyer's
Family of Investment Companies, (ii) bank deposit notes and certificates of
deposit, (iii) loan participations, (iv) repurchase agreements, (v)
securities owned but subject to a repurchase agreement and (vi) currency,
interest rate and commodity swaps.
5. The Buyer is familiar with Rule 144A and understands that each of the
parties to which this certification is made are relying and will continue to
rely on the statements made herein because one or more sales to the Buyer
will be in reliance on Rule 144A. In addition, the Buyer will only purchase
for the Buyer's own account.
L-2-1
<PAGE>
6. The undersigned will notify each of the parties to which this
certification is made of any changes in the information and conclusions
herein. Until such notice, the Buyer's purchase of Rule 144A Securities will
constitute a reaffirmation of this certification by the undersigned as of the
date of such purchase.
___________________________________
Print Name of Buyer
By: _______________________________
Name: ____________________________
Title: __________________________
IF AN ADVISER:
___________________________________
Print Name of Buyer
Date: _____________________________
Signature _________________________
(SEAL)
L-2-2
<PAGE>
EXHIBIT M
[Date]
[Company]
Re: Pooling and Servicing Agreement dated as of September 1, 1997 among PNC
Mortgage Securities Corp., as Depositor and Master Servicer, and U.S. Bank
National Association, as Trustee, relating to PNC Mortgage Securities Corp.
Mortgage Pass-Through Certificates, Series 1997-6
Ladies and Gentlemen:
In accordance with Section 2.02 of the above-captioned Pooling and
Servicing Agreement, the undersigned, as Trustee, hereby certifies that,
except as noted on the attachment hereto, as to each Mortgage Loan listed in
the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or
listed on the attachment hereto) it or the Custodian on its behalf has
reviewed the documents delivered to it or to the Custodian on its behalf
pursuant to Section 2.01 of the Pooling and Servicing Agreement and has
determined that (i) all documents required (in the case of instruments
described in clause (X)(v) of the definition of "Mortgage File," known by the
Trustee to be required) pursuant to the third paragraph of Section 2.01 of
the Pooling and Servicing Agreement have been executed and received as of the
date hereof are in its possession or in the possession of the Custodian on
its behalf and (ii) all such documents have been executed and relate to the
Mortgage Loans identified in the Mortgage Loan Schedule. The Trustee has made
no independent examination of such documents beyond the review specifically
required in the above referenced Pooling and Servicing Agreement and has
relied upon the purported genuineness and due execution of any such documents
and upon the purported genuineness of any signature thereon. The Trustee
makes no representations as to: (i) the validity, legality, enforceability or
genuineness of any of the documents contained in each Mortgage File or any of
the Mortgage Loans identified on the Mortgage Loan Schedule, or (ii) the
collectability, insurability, effectiveness or suitability of any such
Mortgage Loan.
Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the above-captioned Pooling and Servicing
Agreement.
as Trustee
By: _______________________________
Name: _____________________________
Title: ____________________________
M-1
<PAGE>
EXHIBIT N
Schedule of Certain Mortgage Loans With Group Primary Insurance Policies
N-1
