<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
NOVEMBER 25, 1997
(DATE OF EARLIEST EVENT REPORTED)
PNC MORTGAGE SECURITIES CORP.
AS DEPOSITOR, CERTIFICATE ADMINISTRATOR AND MASTER SERVICER UNDER A
POOLING AND SERVICING AGREEMENT
DATED AS OF NOVEMBER 1, 1997
PROVIDING FOR THE ISSUANCE OF
$828,189,240.58
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-8
Delaware 333-38121 T/B/D
(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 November 25, 1997 (the "Closing Date"), PNC Mortgage Securities Corp.
(the "Company"), pursuant to a pooling and servicing agreement, dated as of
November 1, 1997, between the Company, as Depositor, Certificate
Administrator and Master Servicer, IndyMac, Inc., as Master Servicer, and
U.S. Bank National Association, as the Trustee, caused the Mortgage
Pass-Through Certificates, Series 1997-8, to be issued (the "Certificates")
which consist of the following thirty-eight classes: (i) Class I-A-1, (ii)
Class II-A-1, Class II-A-2, Class II-A-3, Class II-A-4, Class II-A-5, Class
II-A-6, Class II-A-7, Class II-A-8, Class II-A-9 and Class II-A-10 (the
"Group II-A Certificates"), (iii) Class III-PT (together with the Class I-A-1
and Group II-A Certificates, the "Class A Certificates"), (iv) Class I-P,
Class II-P and Class III-P (the "Class P Certificates") (v) Class I-X-1 and
Class I-X-2 (the "Class I-X Certificates"), Class II-X and Class III-X
(together with the Class I-X Certificates, the "Class X Certificates"), (vi)
Class I-B-1, Class I-B-2 and Class I-B-3 (the "Group I Senior Subordinate
Certificates"), (vii) Class I-B-4, Class I-B-5 and Class I-B-6 (the "Group I
Junior Subordinate Certificates" and, together with the Group I Senior
Subordinate Certificates, the "Group I-B Certificates"), (viii) Class II-B-1,
Class II-B-2 and Class II-B-3 (the "Group II Senior Subordinate
Certificates"), (ix) Class II-B-4, Class II-B-5 and Class II-B-6 (the "Group
II Junior Subordinate Certificates" and, together with the Group II Senior
Subordinate Certificates, the "Group II-B Certificates"), (x) Class III-B-1,
Class III-B-2 and Class III-B-3 (the "Group III Senior Subordinate
Certificates"), (xi) Class III-B-4, Class III-B-5 and III-B-6 (the "Group III
Junior Subordinate Certificates" and, together with the Group III Senior
Subordinate Certificates, the "Group III-B Certificates"), and (xii) Class R
(the "Residual Certificates" and, together with the Class A, Class X and
Class P Certificates, the "Senior Certificates"). The Class I-A-1, Class
I-P, Class I-X and Group I-B Certificates are sometimes referred to as the
"Group I Certificates", the Group II-A, Class II-P, Class II-X, Group II-B
and Class R Certificates are sometimes referred to as the "Group II
Certificates" and the Class III-PT, Class III-P, Class III-X and Group III-B
Certificates are sometimes referred to as the "Group III Certificates". The
Group I Certificates, the Group II Certificates and the Group III
Certificates are each a "Certificate Group". The Class II-A-8 and Class
II-A-9 Certificates are sometimes referred to as the "Lockout Certificates".
The Class I-X-1 and Class I-X-2 Certificates are sometimes referred to as the
"LIBOR Certificates". The Class I-X-1 Certificates are sometimes referred to
as the "Floater Certificates" and the Class I-X-2 Certificates are sometimes
referred to as the "Inverse Floater Certificates".
__________________________
Capitalized terms used herein and not otherwise defined shall have the
meanings assigned to them in the Prospectus, dated November 24, 1997, and
Prospectus Supplement, dated November 24, 1997, of PNC Mortgage Securities
Corp., relating to its Mortgage Pass-Through Certificates, Series 1997-8.
2
<PAGE>
The Group I Senior Subordinate Certificates, Group II Senior Subordinate
Certificates and Group III Senior Subordinate Certificates are collectively
referred to as the "Senior Subordinate Certificates". The Group I Junior
Subordinate Certificates, Group II Junior Subordinate Certificates and Group III
Junior Subordinate Certificates are collectively referred to as the "Junior
Subordinate Certificates". The Group I-B, Group II-B and Group III-B
Certificates are collectively referred to as the "Subordinate Certificates" or
"Class B Certificates". Only the Senior Certificates and the Senior Subordinate
Certificates (collectively, the "Offered Certificates") are offered to the
public pursuant to the Company's Prospectus dated November 24, 1997 (the "Base
Prospectus"), and Prospectus Supplement dated November 24, 1997 (the "Prospectus
Supplement", and together with the Base Prospectus, the "Prospectus"). The
Junior Subordinate Certificates are not offered pursuant to the Prospectus.
The Certificates evidence all the beneficial ownership interest in a
trust (the "Trust") established by the Company, the assets of which consist
of a pool of conventional fixed-rate one- to four-family residential and
cooperative apartment mortgage loans with original terms to maturity of not
more than 30 years (the "Mortgage Loans") deposited by the Company, and
certain other assets, as described in the Prospectus. Certain of the
Mortgage Loans will be master serviced by the Company (the "PNC Loans") and
certain of the Mortgage Loans will be master serviced by IndyMac, Inc. (the
"IndyMac Loans" and each of the Company and IndyMac, in such capacity, a
"Master Servicer"). The Mortgage Pool (as described in the Prospectus)
consists of three groups of Mortgage Loans ("Loan Group I", "Loan Group II"
and "Loan Group III", and each, a "Loan Group"). The Mortgage Loans in Loan
Group I are sometimes referred to as the "Group I Loans", the Mortgage Loans
in Loan Group II are sometimes referred to as the "Group II Loans" and the
Mortgage Loans in Loan Group III are sometimes referred to as the "Group III
Loans". The Group I Certificates will correspond to the Group I Loans, which
consist of fixed-rate Mortgage Loans with terms to maturity of not more than
30 years. The Group II Certificates will correspond to the Group II Loans,
which consist of fixed-rate Mortgage Loans with terms to maturity of not more
than 30 years. The Group III Certificates will correspond to the Group III
Loans, which consist of fixed-rate Mortgage Loans with terms to maturity of
not more than 15 years. Distributions of interest and principal on the Group
I Certificates, the Group II Certificates and the Group III Certificates will
be solely based on interest and principal received or advanced with respect
to the Group I Loans, Group II Loans and Group III Loans, respectively. The
rights of the holders of the Class B Certificates of a Certificate Group to
receive distributions with respect to the Mortgage Loans in the related Loan
Group will be based solely on interest and principal received or advanced
with respect to such Loan Group, and will be subordinate to the rights of the
holders of Class B Certificates of such Certificate Group with lower
numerical designations and the Senior Certificates of such Certificate Group
to the extent described in the Prospectus.
The Company has caused an election to be made to treat the Trust as a
"real estate mortgage investment conduit" (a "REMIC") for federal income tax
purposes. All of the certificates issued by the Trust, other than the Class R
Certificates, represent ownership of REMIC "regular interests". The Class R
Certificates represent ownership of the REMIC
3
<PAGE>
"residual interest" in the Trust. See "Certain Federal Income Tax
Consequences" in the Prospectus Supplement and in the Prospectus.
The Offered Certificates evidence interests only in the Trust and are
payable solely from amounts received with respect thereto.
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:
<TABLE>
<CAPTION>
INITIAL CLASS INITIAL LAST SCHEDULED
CLASS PRINCIPAL BALANCE REMITTANCE RATE (1) DISTRIBUTION DATE
----- ----------------- ------------------- -----------------
<S> <C> <C> <C>
Class I-A-1 $ 363,533,005.00 7.250% January 25, 2028
Class II-A-1 85,246,108.00 7.000% December 25, 2027
Class II-A-2 72,411,210.00 7.000% December 25, 2027
Class II-A-3 65,563,181.00 7.000% December 25, 2027
Class II-A-4 6,388,029.00 7.000%(2) December 25, 2027
Class II-A-5 10,490,109.00 7.000%(3) December 25, 2027
Class II-A-6 555,409.00 7.000%(4) December 25, 2027
Class II-A-7 7,423,000.00 7.000% December 25, 2027
Class II-A-8 59,639,283.00 7.000% December 25, 2027
Class II-A-9 4,901,652.00 7.000% December 25, 2027
Class II-A-10 10,086,644.00 7.000% December 25, 2027
Class III-PT 100,539,062.00 6.750% December 25, 2012
Class I-X-1 -- Variable Rate (5) January 25, 2028
Class I-X-2 -- Variable Rate (6) January 25, 2028
Class II-X -- 7.000%(7) December 25, 2027
Class III-X -- 6.750%(8) December 25, 2012
Class I-P 152,576.72 (9) January 25, 2028
Class II-P 142,701.19 (9) December 25, 2027
Class III-P 201,782.40 (9) December 25, 2012
Class I-B-I 10,725,313.00 7.250% January 25, 2028
Class I-B-2 6,825,198.00 7.250% January 25, 2028
Class I-B-3 4,290,125.00 7.250% January 25, 2028
Class II-B-1 11,132,668.00 7.000% December 25, 2027
Class II-B-2 3,254,164.00 7.000% December 25, 2027
Class II-B-3 1,712,718.00 7.000% December 25, 2027
Class III-B-1 2,244,486.00 6.750% December 25, 2012
Class III-B-2 417,579.00 6.750% December 25, 2012
Class III-B-3 313,184.00 6.750% December 25, 2012
Class R 50.00 7.000% January 25, 2028
</TABLE>
__________________________
4
<PAGE>
(1) Interest distributed to the Offered Certificates (other than the Class P
Certificates, which are not entitled to receive distributions of interest)
on each Distribution Date will have accrued during the preceding calendar
month at the applicable per annum Remittance Rate, except for the LIBOR
Certificates which will accrue interest during the period from the 25th day
of the month prior to each Distribution Date to the 24th day of the month
of such Distribution Date.
(2) On each Distribution Date on or before the Class II-A-4 Accretion
Termination Date (as defined in the Prospectus), an amount equal to the
Class II-A-4 Accrual Amount (as defined in the Prospectus) will be added to
the Class II-A-4 Principal Balance, and such amount will be distributed as
principal to other Classes of Certificates as described in the Prospectus
and will not be distributed as interest to the Class II-A-4 Certificates.
(3) The Class II-A-5 Certificates are comprised of Component II-A-5-1 and
Component II-A-5-2 (each as defined in the Prospectus). The interest and
principal distributable to the Class II-A-5 Certificates will be based on
the interest and principal allocable to each Component (as defined in the
Prospectus) thereof. On each Distribution Date prior to the Component
II-A-5-1 Accretion Termination Date (as defined in the Prospectus), an
amount equal to the Component II-A-5-1 Accrual Amount (as defined in the
Prospectus) will be added to the Component II-A-5-1 Principal Balance, and
such amount will be distributed as principal to other Components and
Classes of Certificates as described in the Prospectus and will not be
distributed as interest to Component II-A-5-1. On each Distribution Date
prior to the Component II-A-5-2 Accretion Termination Date (as defined in
the Prospectus), an amount equal to the Component II-A-5-2 Accrual Amount
(as defined in the Prospectus) will be added to the Component II-A-5-2
Principal Balance, and such amount will be distributed as principal to
another Class of Certificates as described in the Prospectus and will not
be distributed as interest to Component II-A-5-2.
(4) On each Distribution Date on or before the Class II-A-6 Accretion
Termination Date (as defined in the Prospectus), an amount equal to the
Class II-A-6 Accrual Amount (as defined in the Prospectus) will be added to
the Class II-A-6 Principal Balance, and such amount will be distributed as
principal to other Classes of Certificates as described in the Prospectus
and will not be distributed as interest to the Class II-A-6 Certificates.
(5) The initial Remittance Rate for the Class I-X-1 Certificates will be 5.250%
per annum. Thereafter, the Class I-X-1 Certificates will accrue interest
at a per annum rate equal to four multiplied by LIBOR (as defined in the
Prospectus) minus 17.500%, subject to a minimum and maximum Remittance Rate
of 0% and 14.500% per annum, respectively. The Class I-X-1 Certificates
will accrue interest on the Class I-X-1 Notional Amount (as defined in
"Description of the Certificates--Distributions of Interest" in the
Prospectus). The Class I-X-1 Notional Amount as of the Cut-Off Date will
be approximately $21,674,172. The Class I-X-1 Certificates will not be
entitled to receive distributions of principal.
(6) The initial Remittance Rate for the Class I-X-2 Certificates will be 9.250%
per annum. Thereafter, the Class I-X-2 Certificates will accrue interest
at a per annum rate equal to 32.000% minus four multiplied by LIBOR,
subject to a minimum and maximum Remittance Rate of 0% and 14.500% per
annum, respectively. The Class I-X-2 Certificates will accrue interest on
the Class I-X-2 Notional Amount (as defined in "Description of the
Certificates--Distributions of Interest" in the Prospectus). The Class
I-X-2 Notional Amount as of the Cut-Off Date was approximately $21,674,172.
The Class I-X-2 Certificates are not entitled to receive distributions of
principal.
(7) The Remittance Rate on the Class II-X Certificates is 7.000% per annum.
The Class II-X Certificates will accrue interest on the Class II-X Notional
Amount (as defined in "Description of the Certificates--Distributions of
Interest" in the Prospectus). The Class II-X Notional Amount as of the
Cut-Off Date was approximately $35,143,021. The Class II-X Certificates
are not entitled to receive distributions of principal.
(8) The Remittance Rate on the Class III-X Certificates is 6.750% per annum.
The Class III-X Certificates will accrue interest on the Class III-X
Notional Amount (as defined in "Description of the
Certificates--Distributions of Interest" in the Prospectus). The Class
III-X Notional Amount as of the Cut-Off Date was approximately $9,303,707.
The Class III-X Certificates are not entitled to receive distributions of
principal.
(9) The Class I-P, Class II-P and Class III-P Certificates are not entitled to
receive distributions of interest.
5
<PAGE>
The Mortgage Pool consists of Mortgage Loans having an aggregate principal
balance outstanding as of November 1, 1997 (the "Cut-Off Date"), after deducting
payments due on or before that date, of approximately $836,949,643. The Group
I Loans, Group II Loans and Group III Loans have an aggregate principal balance
outstanding as of the Cut-Off Date, after deducting payments due on or before
that date, of approximately $390,011,349, $342,543,635 and $104,394,658,
respectively.
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 or shares of stock relating to cooperative
apartments (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 other than
cooperative apartments), and having the additional characteristics described in
the Prospectus.
Each Mortgage Loan will have a first payment date during the period from
June, 1991 through January, 1998, inclusive, and will have an original term to
maturity of not more than 30 years in the case of Group I Loans and Group II
Loans and 15 years in the case of Group III Loans.
LOAN GROUP I
As of the Cut-Off Date, the Mortgage Interest Rate on each Group I Loan was
not less than 6.875% and not more than 9.750% per annum. As of the Cut-Off
Date, the weighted average of the Mortgage Interest Rates on the Group I Loans
was approximately 8.363% per annum. As of the Cut-Off Date, the Pass-Through
Rate for each Group I Loan was not less than 6.450% and not more than 9.450% per
annum. As of the Cut-Off Date, the weighted average of the Pass-Through Rates
for the Group I Loans was approximately 8.053% per annum. As of the Cut-Off
Date, 2,893 of the Group I Loans with an aggregate principal balance of
$324,056,135 were PNC Loans, and 560 of the Group I Loans with an aggregate
principal balance of $65,955,214 were IndyMac Loans.
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
December 2027. Each of the Group I Loans have original terms to maturity of
not more than 30 years, and as of the Cut-Off Date, the weighted average
remaining term to maturity (adjusted for Curtailments) of the Group I Loans
was approximately 356.1 months. At origination, based upon an appraisal of
the Mortgaged Property securing each Group I Loan, approximately 91.0% of the
Group I Loans had Loan-to-Value Ratios less than or equal to 80%, and
approximately 9.0% 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
as origination greater than 95%. At origination, the weighted average of the
Loan-to-Value Ratios of the Group I Loans was approximately 73.5%. As of the
Cut-Off Date, the weighted average of the Loan-to-Value Ratios of the Group I
Loans was approximately 73.4%. As of the Cut-Off Date, approximately 8.8% of
the Group I Loans were covered by a Primary Insurance Policy.
6
<PAGE>
Approximately 96.9% of the Group I Loans with Loan-to-Value Ratios as of the
Cut-Off Date in excess of 80% were covered by a Primary Insurance Policy. At
origination, each Group I Loan had a principal balance of not less than
$22,500 nor more than $247,500, and the average principal balance of the
Group I Loans as of the Cut-Off Date was approximately $112,949.
Approximately 70.3% of the Group I Loans were secured by owner-occupied
Mortgaged Properties which were the primary residences of the related
Mortgagors, based solely on representations of the Mortgagors obtained at the
origination of the related Group I Loans, and approximately 3.9% of the Group
I Loans were secured by owner-occupied Mortgaged Properties which were second
or vacation homes of the related Mortgagors, based solely on such
representations. Approximately 25.8% of the Group I Loans were secured by
Mortgaged Properties which were investor properties of the related
Mortgagors, based solely on such representations. Approximately 0.5% of the
Group I Loans were secured by interests in cooperative apartments. The
aggregate principal balance of Group I Loans originated under reduced and no
documentation programs (including certain Group I Loans for which
verification of income and deposits was not required), which generally limit
the original Loan-to-Value Ratio of the Group I Loan, was approximately
$270,348,220 which was approximately 69.3% of Loan Group I. As of the
Cut-Off Date, the weighted average of the Loan-to-Value Ratios of such Group
I Loans originated under such reduced and no documentation programs was
approximately 71.0%.
Approximately 27.6% of the Group I Loans are secured by Mortgaged
Properties located in California; 7.6%, in Colorado; 6.3%, in Florida; 6.2% , in
Arizona; 5.4%, in New York; and no other single state contains Mortgaged
Properties securing more than 5.0% of the Group I Loans. No more than 0.2% of
the Group I Loans are secured by Mortgaged Properties located in any one
California zip code area, and no more than 0.3% of the Group I Loans are secured
by Mortgaged Properties located in any other single zip code area.
Approximately 45.8% of the Group I Loans were originated for the purpose of
refinancing existing mortgage debt, including cash-out refinancings.
Approximately 54.2% of the Group I Loans were originated for the purpose of
purchasing the Mortgaged Property.
LOAN GROUP II
As of the Cut-Off Date, the Mortgage Interest Rate on each Group II Loan
was not less than 7.000% and not more than 9.250% per annum. As of the
Cut-Off Date, the weighted average of the Mortgage Interest Rates on the
Group II Loans was approximately 8.001% per annum. As of the Cut-Off Date,
the Pass-Through Rate for each Group II Loan was not less than 6.700% and not
more than 8.960% per annum. As of the Cut-Off Date, the weighted average of
the Pass-Through Rates for the Group II Loans was approximately 7.715% per
annum. As of the Cut-Off Date, 1,028 of the Group II Loans with an aggregate
principal balance of $341,302,416 were PNC Loans, and 4 of the Group II Loans
with an aggregate principal balance of $1,241,219 were IndyMac Loans.
All of the Group II Loans have principal and interest payable on the Due
Date. None of the Group II Loans are Buydown Loans. The latest original
scheduled maturity of any Group II Loan is November 2027. Each of the Group II
Loans have original terms to
7
<PAGE>
maturity of not more than 30 years, and as of the Cut-Off Date, the weighted
average remaining term to maturity (adjusted for Curtailments) of the Group
II Loans was approximately 357.7 months. At origination, based upon an
appraisal of the Mortgaged Property securing each Group II Loan,
approximately 86.8% of the Group II Loans had Loan-to-Value Ratios less than
or equal to 80%, and approximately 13.2% of the Group II Loans had
Loan-to-Value ratios greater than 80% but less than or equal to 95%. At
origination, the weighted average of the Loan-to-Value Ratios of the Group II
Loans was approximately 74.2%. As of the Cut-Off Date, the weighted average
of the Loan-to-Value Ratios of the Group II Loans was approximately 74.1%.
As of the Cut-Off Date, approximately 12.6% of the Group II Loans were
covered by a Primary Insurance Policy. Approximately 96.4% of the Group II
Loans with Loan-to-Value ratios as of the Cut-Off Date in excess of 80% were
covered by a Primary Insurance Policy. At origination, each Group II Loan
had a principal balance of not less than $214,650 nor more than $2,500,000
and the average principal balance of the Group II Loans as of the Cut-Off
Date was approximately $331,922. Approximately 93.7% of the Group II Loans
were secured by owner-occupied Mortgaged Properties which were the primary
residences of the related Mortgagors, based solely on representations of the
Mortgagors obtained at the origination of the related Group II Loans, and
approximately 2.7% of the Group II Loans were secured by owner-occupied
Mortgaged Properties which were second or vacation homes of the related
Mortgagors, based solely on such representations. Approximately 3.6% of the
Group II Loans were secured by Mortgaged Properties which were investor
properties of the related Mortgagors, based solely on such representations.
Approximately 0.3% of the Group II Loans are secured by interests in
cooperative apartments. The aggregate principal balance of Group II Loans
originated under reduced and no documentation programs (including certain
Group II Loans for which verification of income and deposits was not
required), which generally limit the original Loan-to-Value Ratio of the
Group II Loan, was approximately $114,917,051, which was approximately 33.5%
of Loan Group II. As of the Cut-Off Date, the weighted average of the
Loan-to-Value Ratios of such Group II Loans originated under such reduced and
no documentation programs was approximately 69.5%.
Approximately 46.1% of the Group II Loans are secured by Mortgaged
Properties located in California; 5.1%, in New York; 5.1%, in Illinois; and no
other single state contains Mortgaged Properties securing more than 5% of the
Group II Loans. No more than 1.4% of the Group II Loans are secured by
Mortgaged Properties located in any one California zip code area, and no more
than 0.8% of the Group II Loans are secured by Mortgaged Properties located in
any other single zip code area. Approximately 47.5% of the Group II Loans were
originated for the purpose of refinancing existing mortgage debt, including
cash-out refinancings. Approximately 52.5% of the Group II Loans were
originated for the purpose of purchasing the Mortgaged Property.
LOAN GROUP III
As of the Cut-Off Date, the Mortgage Interest Rate on each Group III Loan
was not less than 6.500% and not more than 9.250% per annum. As of the Cut-Off
Date, the weighted average of the Mortgage Interest Rates on the Group III Loans
was approximately 7.615% per annum. As of the Cut-Off Date, the Pass-Through
Rate for
8
<PAGE>
each Group III Loan was not less than 6.260% and not more than 8.970% per
annum. As of the Cut-Off Date, the weighted average of the Pass-Through
Rates for the Group III Loans was approximately 7.339% per annum. All of the
Group III Loans are PNC Loans.
All of the Group III Loans have principal and interest payable on the Due
Date. None of the Group III Loans are Buydown Loans. The latest original
scheduled maturity of any Group III Loan is November 2012. Each of the Group
III Loans have original terms to maturity of not more than 15 years, and, as
of the Cut-Off Date, the weighted average remaining term to maturity
(adjusted for Curtailments, except with respect to Balloon Loans) of the
Group III Loans was approximately 176.0 months. The weighted average
remaining term to maturity for Loan Group III was determined without regard
to the amortization schedules of the Balloon Loans in Loan Group III. As of
the Cut-Off Date, approximately 4.0% of the Group III Loans, with an
aggregate principal balance of $4,194,955, by the terms of the related
Mortgages will not fully amortize by their stated maturity dates (each, a
"Balloon Loan"). At origination, based upon an appraisal of the Mortgaged
Property securing each Group III Loan, approximately 96.8% of the Group III
Loans had Loan-to-Value Ratios less than or equal to 80%, and approximately
3.2% of the Group III Loans had Loan-to-Value Ratios greater than 80% but
less than or equal to 95%. No Group III 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 III Loans was approximately 69.4%. As of
the Cut-Off Date, the weighted average of the Loan-to-Value Ratios of the
Group III Loans was approximately 68.6%. As of the Cut-Off Date,
approximately 3.5% of the Group III Loans were covered by a Primary Insurance
Policy. All of the Group III Loans with Loan-to-Value Ratios as of the
Cut-Off Date in excess of 80% were covered by a Primary Insurance Policy. At
origination, each Group III Loan had a principal balance of not less than
$22,000 nor more than $1,000,000 and the average principal balance of the
Group III Loans as of the Cut-Off Date was approximately $241,096.
Approximately 94.0% of the Group III Loans were secured by owner-occupied
Mortgaged Properties which were the primary residences of the related
Mortgagors, based solely on representations of the Mortgagors obtained at the
origination of the related Group III Loans, and approximately 3.1% of the
Group III Loans were secured by owner-occupied Mortgaged Properties which
were second or vacation homes of the related Mortgagors, based solely on such
representations. Approximately 2.9% of the Group III Loans were secured by
Mortgaged Properties which were investor properties of the related
Mortgagors, based solely on such representations. None of the Group III
Loans are secured by interests in cooperative apartments. The aggregate
principal balance of Group III Loans originated under reduced and no
documentation programs (including certain Group III Loans for which
verification of income and deposits was not required), which generally limit
the original Loan-to-Value Ratio of the Group III Loan, was approximately
$21,952,893, which was approximately 21.0% of Loan Group III. As of the
Cut-Off Date, the weighted average of the Loan-to-Value Ratios of such Group
III Loans originated under such reduced and no documentation programs was
approximately 65.2%.
Approximately 34.6% of the Group III Loans are secured by Mortgaged
Properties located in California; 5.6% in Texas; 5.2% in Michigan; and no other
single state contains Mortgaged Properties securing more than 5% of the Group
III Loans. No more than 1.1% of the Group III Loans were secured by Mortgaged
Properties located in any one California
9
<PAGE>
zip code area, and no more than 1.6% of the Group III Loans were secured by
Mortgaged Properties located in any other single zip code area.
Approximately 57.4% of the Group III Loans were originated for the purpose of
refinancing existing mortgage debt, including cash-out refinancings.
Approximately 42.6% of the Group III Loans were originated for the purpose of
purchasing the Mortgaged Property.
Each Master Servicer will receive a fee (the "Master Servicing Fee") for
its services as Master Servicer under the Pooling Agreement. Each Master
Servicer will retain as its Master Servicing Fee an amount which will be
calculated as a per annum percentage for each related Mortgage Loan. The Master
Servicing Fee with respect to each Group I Loan will range from a minimum of
0.035% to a maximum of 0.045%, with a weighted average of 0.040%. The Master
Servicing Fee with respect to each Group II Loan will range from a minimum of
0.035% top a maximum of 0.095%, with a weighted average of 0.051%. The Master
Servicing Fee with respect to each Group III Loan will range from a minimum of
0.025% to a maximum of 0.045%, with a weighted average of 0.040%.
The Servicing Fee with respect to each Group I Loan ranges from a minimum
of 0.200% to a maximum of 0.375%, with a weighted average of 0.266%. The
Servicing Fee with respect to each Group II Loan ranges from a minimum of 0.150%
to a maximum of 0.375%, with a weighted average of 0.229%. The Servicing Fee
with respect to each Group III Loan ranges from a minimum of 0.200% to a maximum
of 0.250%, with a weighted average of 0.231%. See "Description of the
Certificates -- Servicing Compensation and Payment of Expenses" in the
Prospectus for information regarding other possible compensation to the Company
and the servicers.
Pursuant to the Pooling Agreement, the Company (in its capacity as
Certificate Administrator) will calculate LIBOR and amounts payable to the
Certificateholders and provide certain other administrative services as
specified in the Pooling Agreement. The Certificate Administrator will receive
a fee (the "Certificate Administrator Fee") for its services as Certificate
Administrator under the Pooling Agreement. The Certificate Administrator Fee
with respect to each Mortgage Loan shall be 0.005% per annum. The Company, in
its capacity as Certificate Administrator and Master Servicer, will be
responsible for paying the fees of the Trustee. The Company will also pay all
expenses incurred in connection with its activities as Certificate Administrator
under the Pooling Agreement.
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.
10
<PAGE>
a) Number of loans: 3,453
b) Mortgage Interest Rates: 1997-8 Group I
AGGREGATE PERCENTAGE
MORTGAGE NUMBER BALANCES AS OF AGGREGATE
INTEREST OF OF THE CUT- BALANCE OF
RATE (MIR) LOANS OFF DATE THE POOL
---------- ------ ---------------- ------------
6.875% 1 $ 46,670.44 0.01 %
7.000% 2 $ 154,254.56 0.04 %
7.125% 2 $ 224,229.98 0.06 %
7.250% 5 $ 595,063.95 0.15 %
7.375% 15 $ 2,004,392.43 0.51 %
7.500% 29 $ 3,472,536.34 0.89 %
7.625% 44 $ 5,477,289.49 1.40 %
7.750% 87 $ 10,640,792.74 2.73 %
7.875% 205 $ 26,793,013.64 6.87 %
8.000% 278 $ 34,210,860.76 8.77 %
8.125% 263 $ 32,135,541.25 8.24 %
8.250% 469 $ 55,094,925.66 14.13 %
8.375% 446 $ 50,738,458.18 13.01 %
8.500% 543 $ 59,119,172.03 15.16 %
8.625% 276 $ 29,648,101.27 7.60 %
8.750% 342 $ 34,157,076.79 8.76 %
8.875% 274 $ 29,073,926.42 7.45 %
9.000% 125 $ 12,326,472.37 3.16 %
9.125% 17 $ 1,324,899.07 0.34 %
9.250% 15 $ 1,324,615.10 0.34 %
9.375% 6 $ 512,445.35 0.13 %
9.500% 3 $ 344,823.62 0.09 %
9.625% 2 $ 213,429.46 0.05 %
9.750% 4 $ 378,358.32 0.10 %
----- ---------------- -----------
TOTAL 3453 $ 390,011,349.22 100.00 %
===== ================
11
<PAGE>
c) Pass-Through Rates: 1997-8 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)
------------------ -------------- ----------- ----------------
6.251 - 6.500% $ 46,670.44 6.875% 319
6.501 - 6.750% $ 266,574.10 7.053% 358
6.751 - 7.000% $ 904,550.04 7.262% 358
7.001 - 7.250% $ 6,270,625.17 7.484% 357
7.251 - 7.500% $ 18,255,834.29 7.741% 359
7.501 - 7.750% $ 59,634,348.74 7.954% 357
7.751 - 8.000% $ 92,615,163.89 8.219% 358
8.001 - 8.250% $106,676,214.99 8.453% 357
8.251 - 8.500% $ 65,339,574.19 8.712% 355
8.501 - 8.750% $ 35,903,222.45 8.917% 353
8.751 - 9.000% $ 2,649,514.17 9.187% 357
9.001 - 9.250% $ 1,006,829.04 9.455% 355
9.251 - 9.500% $ 442,227.71 9.732% 357
--------------- ------ ------
$390,011,349.22 8.363% * 357 *
===============
* Represents a weighted average (by principal balance) of all the
Mortgage Loans.
12
<PAGE>
d) Original Principal Balances: 1997-8 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 181 $ 7,808,580.46 2.00 %
$ 50,001 - 75,000 656 $ 41,312,056.53 10.59 %
$ 75,001 - 100,000 739 $ 65,591,020.19 16.82 %
$100,001 - 150,000 1,117 $ 138,137,553.82 35.42 %
$150,001 - 200,000 630 $ 110,132,468.21 28.24 %
$200,001 - 250,000 130 $ 27,029,670.01 6.93 %
------ ---------------- ------------
TOTAL 3,453 $ 390,011,349.22 100.00 %
====== ================
Outstanding principal balance of the smallest Mortgage Loan
at the Cut-Off Date: $ 22,485.66
Outstanding principal balance of the largest Mortgage Loan
at the Cut-Off Date: $247,500.00
13
<PAGE>
e) Years of initial Monthly Payment: 1997-8 Group I
AGGREGATE PERCENTAGE
YEAR NUMBER BALANCES AS OF AGGREGATE
OF OF OF THE CUT- BALANCE OF
PAYMENT LOANS OFF DATE POOL
------- ------ ---------------- ------------
1994 3 $ 290,333.54 0.07 %
1995 1 $ 117,371.59 0.03 %
1996 5 $ 346,786.89 0.09 %
1997 3418 $ 386,313,357.20 99.05 %
1998 26 $ 2,943,500.00 0.75 %
------ ---------------- ------------
TOTAL 3453 $ 390,011,349.22 100.00 %
====== ================
14
<PAGE>
f) Current Loan-to-Value Ratios: 1997-8 Group I
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 457 $ 44,805,430.56 11.49 %
60.01-70.00% 530 $ 58,868,529.05 15.09 %
70.01-75.00% 934 $ 107,054,806.49 27.45 %
75.01-80.00% 1207 $ 144,341,587.63 37.01 %
80.01-85.00% 30 $ 3,545,779.63 0.91 %
85.01-90.00% 249 $ 25,003,452.38 6.41 %
90.01-95.00% 46 $ 6,391,763.48 1.64 %
------ ---------------- ------------
TOTAL 3453 $ 390,011,349.22 100.00 %
====== ================
15
<PAGE>
g) Types of Mortgaged Properties: 1997-8 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 2530 $ 289,432,921.38 74.21 %
DUPLEX 211 $ 21,901,656.86 5.62 %
TRIPLEX 76 $ 9,179,393.44 2.35 %
FOURPLEX 73 $ 8,838,898.28 2.27 %
TOWNHOUSE 8 $ 699,782.51 0.18 %
CONDOMINIUM 305 $ 30,341,981.12 7.78 %
PLANNED UNIT DEVELOPMENT 202 $ 25,145,451.31 6.45 %
HI-RISE CONDO 26 $ 2,628,224.05 0.67 %
HOUSING COOPERATIVES 22 $ 1,843,040.27 0.47 %
------ ----------------- ------------
TOTAL 3453 $ 390,011,349.22 100.00 %
====== =================
</TABLE>
16
<PAGE>
h) Geographic Distribution by state: 1997-8 Group I
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
OF OF THE CUT- BALANCE OF
STATE LOANS OFF DATE POOL
-------------------- ------ ----------------- ------------
<S> <C> <C> <C>
ALABAMA 15 $ 1,516,976.48 0.39 %
ALASKA 2 $ 213,412.89 0.05 %
ARIZONA 241 $ 24,254,266.84 6.22 %
ARKANSAS 1 $ 52,692.10 0.01 %
CALIFORNIA 840 $ 107,809,042.57 27.64 %
COLORADO 258 $ 29,599,472.89 7.59 %
CONNECTICUT 23 $ 2,619,103.02 0.67 %
DELAWARE 1 $ 92,695.56 0.02 %
DISTRICT OF COLUMBIA 2 $ 265,848.06 0.07 %
FLORIDA 241 $ 24,591,426.74 6.31 %
GEORGIA 112 $ 12,329,496.34 3.16 %
HAWAII 35 $ 4,879,035.70 1.25 %
IDAHO 52 $ 4,546,542.67 1.17 %
ILLINOIS 131 $ 15,429,860.15 3.96 %
INDIANA 17 $ 1,461,586.42 0.37 %
IOWA 7 $ 581,985.10 0.15 %
KANSAS 5 $ 444,883.53 0.11 %
KENTUCKY 6 $ 352,650.57 0.09 %
LOUISIANA 2 $ 170,540.30 0.04 %
MAINE 1 $ 130,000.00 0.03 %
MARYLAND 40 $ 3,764,118.65 0.97 %
MASSACHUSETTS 51 $ 5,922,269.45 1.52 %
MICHIGAN 94 $ 9,103,749.92 2.33 %
MINNESOTA 33 $ 4,001,104.90 1.03 %
MISSISSIPPI 4 $ 411,878.00 0.11 %
MISSOURI 25 $ 2,435,005.29 0.62 %
MONTANA 23 $ 2,285,266.99 0.59 %
NEBRASKA 6 $ 697,343.34 0.18 %
NEVADA 110 $ 11,450,247.95 2.94 %
NEW HAMPSHIRE 4 $ 451,014.44 0.12 %
NEW JERSEY 79 $ 9,935,173.50 2.55 %
NEW MEXICO 37 $ 3,646,195.67 0.93 %
NEW YORK 166 $ 20,909,771.69 5.36 %
NORTH CAROLINA 23 $ 2,339,944.91 0.60 %
OHIO 72 $ 6,391,333.21 1.64 %
OKLAHOMA 12 $ 1,483,478.39 0.38 %
OREGON 158 $ 18,115,365.82 4.64 %
PENNSYLVANIA 33 $ 3,805,687.12 0.98 %
RHODE ISLAND 7 $ 627,002.51 0.16 %
SOUTH CAROLINA 16 $ 1,705,591.46 0.44 %
TENNESSEE 18 $ 2,074,662.80 0.53 %
TEXAS 152 $ 13,827,183.39 3.55 %
UTAH 126 $ 14,843,016.23 3.81 %
VERMONT 2 $ 182,785.40 0.05 %
VIRGINIA 54 $ 5,918,799.26 1.52 %
WASHINGTON 90 $ 10,085,201.56 2.59 %
WEST VIRGINIA 3 $ 205,321.20 0.05 %
WISCONSIN 20 $ 1,749,442.49 0.45 %
WYOMING 3 $ 301,875.75 0.08 %
------ ----------------- ------------
TOTAL 3453 $ 390,011,349.22 100.00 %
</TABLE>
17
<PAGE>
i) Scheduled maturity years: 1997-8 Group I
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE
YEAR NUMBER BALANCES AS OF AGGREGATE
OF OF OF THE CUT- BALANCE OF
MATURITY LOANS OFF DATE POOL
-------- ------ ------------------ ------------
<S> <C> <C> <C>
2016 1 $ 88,583.69 0.02 %
2017 68 $ 6,505,447.80 1.67 %
2022 1 $ 41,959.30 0.01 %
2024 3 $ 290,333.54 0.07 %
2025 1 $ 117,371.59 0.03 %
2026 9 $ 941,794.97 0.24 %
2027 3370 $ 382,025,858.33 97.95 %
------ ------------------ ------------
TOTAL 3453 $ 390,011,349.22 100.00 %
====== ==================
</TABLE>
Weighted average (by principal balance) remaining term
(adjusted for curtailments) of the Mortgage Loans
calculated as of the Cut-Off Date: 356.1
Latest scheduled maturity of any Mortgage Loan: December, 2027
18
<PAGE>
j) Original Terms: 1997-8 Group I
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
LOAN TERM OF OF THE CUT- BALANCE OF
(IN MONTHS) LOANS OFF DATE POOL
--------------- ------ ---------------- ------------
<S> <C> <C> <C>
240 69 $ 6,594,031.49 1.69 %
300 1 $ 41,959.30 0.01 %
346 1 $ 138,591.37 0.04 %
357 1 $ 135,732.10 0.03 %
360 3381 $ 383,101,034.96 98.23 %
------ ---------------- ------------
TOTAL 3453 $ 390,011,349.22 100.00 %
====== ================
</TABLE>
19
<PAGE>
k) Documentation Program Types: 1997-8 Group I
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
OF OF THE CUT- BALANCE OF
LOAN TYPE LOANS OFF DATE POOL
------------------------- ------ ---------------- ------------
<S> <C> <C> <C>
NO RATIO 630 $ 72,222,895.18 18.52 %
FULL DOCUMENTATION 1143 $ 119,663,129.33 30.68 %
LIMITED DOCUMENTATION 1680 $ 198,125,324.71 50.80 %
------ ---------------- ------------
TOTAL 3453 $ 390,011,349.22 100.00 %
====== ================
</TABLE>
20
<PAGE>
a)Number of loans:1032
b)Mortgage Interest Rates: 1997-8 Group II
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE
MORTGAGE NUMBER BALANCES AS OF AGGREGATE
INTEREST OF OF THE CUT- BALANCE OF
RATE (MIR) LOANS OFF DATE THE POOL
---------- ------ ---------------- ------------
<S> <C> <C> <C>
7.000% 5 $ 1,844,447.42 0.54 %
7.125% 8 $ 2,613,402.80 0.76 %
7.250% 24 $ 8,238,095.00 2.40 %
7.375% 25 $ 9,132,232.49 2.67 %
7.500% 74 $ 23,847,320.67 6.96 %
7.625% 87 $ 27,969,763.08 8.17 %
7.750% 123 $ 41,018,279.17 11.97 %
7.875% 174 $ 56,544,723.20 16.51 %
8.000% 122 $ 40,600,211.06 11.85 %
8.100% 1 $ 292,814.36 0.09 %
8.125% 95 $ 29,548,677.55 8.63 %
8.250% 74 $ 25,915,533.09 7.57 %
8.375% 49 $ 17,021,596.30 4.97 %
8.500% 52 $ 15,817,446.43 4.62 %
8.625% 45 $ 18,117,715.01 5.29 %
8.750% 43 $ 13,575,508.94 3.96 %
8.875% 19 $ 5,263,566.36 1.54 %
9.000% 10 $ 4,501,445.61 1.31 %
9.250% 2 $ 680,856.92 0.20 %
----- ---------------- -----------
TOTAL 1032 $ 342,543,635.46 100.00 %
===== ================
</TABLE>
21
<PAGE>
c)Pass-Through Rates: 1997-8 Group II
<TABLE>
<CAPTION>
AGGREGATE WEIGHTED AVERAGE
BALANCES AS WEIGHTED SCHEDULED
RANGE OF OF THE CUT- AVERAGE REMAINING TERM
PASS-THROUGH RATES OFF DATE MIRS (in months)
------------------ --------------- ----------- ----------------
<S> <C> <C> <C>
6.501 - 6.750% $ 1,844,447.42 7.000% 357
6.751 - 7.000% $ 11,214,942.14 7.225% 358
7.001 - 7.250% $ 32,616,108.82 7.466% 358
7.251 - 7.500% $ 68,988,042.25 7.699% 358
7.501 - 7.750% $ 97,144,934.26 7.927% 358
7.751 - 8.000% $ 55,406,843.67 8.183% 359
8.001 - 8.250% $ 33,189,224.06 8.433% 357
8.251 - 8.500% $ 31,693,223.95 8.679% 356
8.501 - 8.750% $ 9,765,011.97 8.933% 352
8.751 - 9.000% $ 680,856.92 9.250% 360
--------------- ------ ------
$342,543,635.46 8.001% * 358 *
===============
</TABLE>
* Represents a weighted average (by principal balance) of all the
Mortgage Loans.
22
<PAGE>
d)Original Principal Balances: 1997-8 Group II
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
ORIGINAL OF OF THE CUT- BALANCE OF
BALANCES LOANS OFF DATE POOL
------------------- ------ ---------------- ------------
<S> <C> <C> <C>
$ 50,000 OR LESS 0 $ .00 0.00 %
$ 50,001 - 75,000 0 $ .00 0.00 %
$ 75,001 - 100,000 0 $ .00 0.00 %
$100,001 - 150,000 0 $ .00 0.00 %
$150,001 - 200,000 0 $ .00 0.00 %
$200,001 - 250,000 280 $ 65,305,129.23 19.06 %
$250,001 - 300,000 310 $ 85,109,962.18 24.85 %
$300,001 - 350,000 151 $ 48,790,728.61 14.24 %
$350,001 - 400,000 132 $ 49,798,776.15 14.54 %
$400,001 - 450,000 51 $ 21,705,790.19 6.34 %
$450,001 - 500,000 38 $ 18,034,141.35 5.26 %
OVER $500,000 70 $ 53,799,107.75 15.71 %
------ ---------------- ------------
TOTAL 1,032 $ 342,543,635.46 100.00 %
====== ================
</TABLE>
Outstanding principal balance of the smallest Mortgage Loan
at the Cut-Off Date: $210,200.45
Outstanding principal balance of the largest Mortgage Loan
at the Cut-Off Date: $2,498,405.83
23
<PAGE>
e)Years of initial Monthly Payment: 1997-8 Group II
<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>
1991 3 $ 858,907.56 0.25 %
1992 3 $ 902,740.21 0.26 %
1993 2 $ 584,570.40 0.17 %
1994 2 $ 476,731.51 0.14 %
1995 2 $ 483,613.09 0.14 %
1996 2 $ 552,017.74 0.16 %
1997 1018 $ 338,685,054.95 98.87 %
------ ----------------- ------------
TOTAL 1032 $ 342,543,635.46 100.00 %
====== =================
</TABLE>
24
<PAGE>
f)Current Loan-to-Value Ratios: 1997-8 Group II
<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 104 $ 41,747,713.06 12.19 %
60.01-70.00% 142 $ 53,000,859.97 15.47 %
70.01-75.00% 173 $ 60,672,642.78 17.71 %
75.01-80.00% 451 $ 142,291,189.40 41.54 %
80.01-85.00% 19 $ 5,514,832.84 1.61 %
85.01-90.00% 104 $ 29,183,789.37 8.52 %
90.01-95.00% 39 $ 10,132,608.04 2.96 %
95.01% OR MORE 0 $ .00 0.00 %
------ ----------------- ------------
TOTAL 1032 $ 342,543,635.46 100.00 %
====== =================
</TABLE>
25
<PAGE>
g)Types of Mortgaged Properties: 1997-8 Group II
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
PROPERTY OF OF THE CUT- BALANCE OF
TYPES LOANS OFF DATE POOL
------------ ------ ----------------- ------------
SINGLE FAMILY DETACHED 902 $ 301,654,983.17 88.06 %
DUPLEX 23 $ 6,550,635.61 1.91 %
TRIPLEX 6 $ 2,153,903.47 0.63 %
FOURPLEX 15 $ 4,571,474.26 1.33 %
TOWNHOUSE 5 $ 1,441,420.41 0.42 %
CONDOMINIUM 33 $ 9,669,047.87 2.82 %
PLANNED UNIT DEVELOPMENT 40 $ 11,844,536.26 3.46 %
HI-RISE CONDO 5 $ 3,712,595.90 1.08 %
HOUSING COOPERATIVES 3 $ 945,038.51 0.28 %
------ ----------------- ------------
TOTAL 1032 $ 342,543,635.46 100.00 %
====== =================
26
<PAGE>
h)Geographic Distribution by state: 1997-8 Group II
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
OF OF THE CUT- BALANCE OF
STATE LOANS OFF DATE POOL
-------------------- ------ ----------------- ------------
ALABAMA 3 $ 997,635.30 0.29 %
ARIZONA 26 $ 7,479,208.33 2.18 %
CALIFORNIA 456 $ 157,839,164.16 46.08 %
COLORADO 46 $ 16,318,297.43 4.76 %
CONNECTICUT 18 $ 7,373,838.83 2.15 %
DELAWARE 1 $ 231,505.58 0.07 %
FLORIDA 34 $ 10,723,058.47 3.13 %
GEORGIA 21 $ 5,979,398.01 1.75 %
HAWAII 17 $ 5,734,438.84 1.67 %
IDAHO 1 $ 367,733.65 0.11 %
ILLINOIS 53 $ 17,299,252.17 5.05 %
INDIANA 4 $ 1,136,458.75 0.33 %
IOWA 1 $ 230,237.39 0.07 %
KANSAS 2 $ 537,447.15 0.16 %
KENTUCKY 3 $ 982,511.32 0.29 %
MARYLAND 28 $ 8,001,167.35 2.34 %
MASSACHUSETTS 28 $ 9,036,501.16 2.64 %
MICHIGAN 14 $ 5,038,857.89 1.47 %
MINNESOTA 8 $ 2,433,546.20 0.71 %
MISSOURI 5 $ 1,390,564.60 0.41 %
MONTANA 2 $ 527,151.12 0.15 %
NEBRASKA 1 $ 218,000.00 0.06 %
NEVADA 7 $ 2,285,184.96 0.67 %
NEW HAMPSHIRE 1 $ 349,312.89 0.10 %
NEW JERSEY 39 $ 15,394,246.80 4.49 %
NEW MEXICO 1 $ 279,500.46 0.08 %
NEW YORK 48 $ 17,416,703.77 5.08 %
NORTH CAROLINA 8 $ 2,107,378.81 0.62 %
OHIO 18 $ 5,632,030.64 1.64 %
OKLAHOMA 1 $ 250,000.00 0.07 %
OREGON 25 $ 7,189,857.50 2.10 %
PENNSYLVANIA 20 $ 5,632,356.52 1.64 %
RHODE ISLAND 1 $ 226,916.59 0.07 %
SOUTH CAROLINA 2 $ 459,681.81 0.13 %
TENNESSEE 7 $ 1,987,599.37 0.58 %
TEXAS 22 $ 6,012,639.55 1.76 %
UTAH 22 $ 6,456,970.16 1.89 %
VIRGINIA 16 $ 4,625,708.17 1.35 %
WASHINGTON 19 $ 5,609,386.11 1.64 %
WEST VIRGINIA 1 $ 265,692.79 0.08 %
WISCONSIN 1 $ 237,492.81 0.07 %
WYOMING 1 $ 249,002.05 0.07 %
------ ----------------- ------------
TOTAL 1032 $ 342,543,635.46 100.00 %
27
<PAGE>
i)Scheduled maturity years: 1997-8 Group II
AGGREGATE PERCENTAGE
YEAR NUMBER BALANCES AS OF AGGREGATE
OF OF OF THE CUT- BALANCE OF
MATURITY LOANS OFF DATE POOL
-------- ------ ------------------ ------------
2017 1 $ 218,923.22 0.06 %
2021 3 $ 858,907.56 0.25 %
2022 3 $ 902,740.21 0.26 %
2023 2 $ 584,570.40 0.17 %
2024 3 $ 716,097.83 0.21 %
2025 1 $ 244,246.77 0.07 %
2026 2 $ 552,017.74 0.16 %
2027 1017 $ 338,466,131.73 98.81 %
------ ------------------ ------------
TOTAL 1032 $ 342,543,635.46 100.00 %
====== ==================
Weighted average (by principal balance) remaining term
(adjusted for curtailments) of the Mortgage Loans
calculated as of the Cut-Off Date:357.7
Latest scheduled maturity of any Mortgage Loan:11/01/2027
28
<PAGE>
j)Original Terms: 1997-8 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 $ 218,923.22 0.06 %
360 1031 $ 342,324,712.24 99.94 %
------ ---------------- ------------
TOTAL 1032 $ 342,543,635.46 100.00 %
====== ================
29
<PAGE>
k)Documentation Program Types: 1997-8 Group II
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
OF OF THE CUT- BALANCE OF
LOAN TYPE LOANS OFF DATE POOL
------------------------- ------ ---------------- ------------
NO RATIO 74 $ 25,435,839.89 7.43 %
FULL DOCUMENTATION 696 $ 227,626,584.35 66.45 %
LIMITED DOCUMENTATION 242 $ 83,201,725.62 24.29 %
NO VERIFY 20 $ 6,279,485.60 1.83 %
------ ---------------- ------------
TOTAL 1032 $ 342,543,635.46 100.00 %
====== ================
30
<PAGE>
a) Number of loans: 433
b) Mortgage Interest Rates:1997-8 Group III
AGGREGATE PERCENTAGE
MORTGAGE NUMBER BALANCES AS OF AGGREGATE
INTEREST OF OF THE CUT- BALANCE OF
RATE (MIR) LOANS OFF DATE THE POOL
---------- ------ ---------------- ------------
6.500% 2 $ 859,385.67 0.82 %
6.625% 2 $ 501,500.54 0.48 %
6.750% 4 $ 1,493,407.60 1.43 %
6.875% 7 $ 2,387,683.05 2.29 %
7.000% 18 $ 4,911,521.57 4.70 %
7.125% 13 $ 4,535,309.02 4.34 %
7.150% 1 $ 389,913.34 0.37 %
7.250% 34 $ 10,973,103.16 10.51 %
7.375% 30 $ 9,305,666.55 8.91 %
7.500% 58 $ 16,555,110.54 15.86 %
7.625% 35 $ 10,015,706.35 9.59 %
7.750% 50 $ 13,283,275.49 12.72 %
7.875% 40 $ 10,205,245.41 9.78 %
8.000% 38 $ 6,458,428.22 6.19 %
8.125% 19 $ 2,927,746.36 2.80 %
8.250% 25 $ 2,288,206.19 2.19 %
8.375% 10 $ 1,311,791.87 1.26 %
8.500% 18 $ 1,825,394.21 1.75 %
8.625% 10 $ 1,259,700.96 1.21 %
8.750% 6 $ 502,957.95 0.48 %
8.875% 4 $ 179,075.96 0.17 %
9.000% 3 $ 520,269.82 0.50 %
9.125% 2 $ 959,106.31 0.92 %
9.250% 4 $ 745,151.96 0.71 %
----- ---------------- -----------
TOTAL 433 $ 104,394,658.10 100.00 %
===== ================
31
<PAGE>
c)Pass-Through Rates: 1997-8 Group III
AGGREGATE WEIGHTED AVERAGE
BALANCES AS WEIGHTED SCHEDULED
RANGE OF OF THE CUT- AVERAGE REMAINING TERM
PASS-THROUGH RATES OFF DATE MIRS (in months)
------------------ -------------- ----------- ----------------
6.251 - 6.500% $ 1,360,886.21 6.546% 178
6.501 - 6.750% $ 5,248,596.37 6.872% 177
6.751 - 7.000% $ 13,879,214.15 7.143% 176
7.001 - 7.250% $ 27,447,419.87 7.407% 177
7.251 - 7.500% $ 21,738,960.23 7.647% 177
7.501 - 7.750% $ 21,003,130.97 7.873% 177
7.751 - 8.000% $ 6,413,001.26 8.146% 176
8.001 - 8.250% $ 3,137,186.08 8.448% 175
8.251 - 8.500% $ 1,762,658.91 8.661% 175
8.501 - 8.750% $ 699,345.78 8.968% 173
8.751 - 9.000% $ 1,704,258.27 9.180% 175
--------------- ------ ------
$104,394,658.10 7.615% * 177 *
===============
* Represents a weighted average (by principal balance) of all the
Mortgage Loans.
32
<PAGE>
d)Original Principal Balances: 1997-8 Group III
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
ORIGINAL OF OF THE CUT- BALANCE OF
BALANCES LOANS OFF DATE POOL
------------------- ------ ---------------- ------------
$ 50,000 OR LESS 42 $ 1,675,943.54 1.61 %
$ 50,001 - 75,000 37 $ 2,307,411.74 2.21 %
$ 75,001 - 100,000 38 $ 3,261,558.77 3.12 %
$100,001 - 150,000 40 $ 4,793,724.68 4.59 %
$150,001 - 200,000 12 $ 2,016,462.84 1.93 %
$200,001 - 250,000 54 $ 12,538,311.66 12.01 %
$250,001 - 300,000 81 $ 22,279,749.40 21.34 %
$300,001 - 350,000 37 $ 11,976,474.24 11.47 %
$350,001 - 400,000 31 $ 11,574,149.15 11.09 %
$400,001 - 450,000 14 $ 6,016,001.56 5.76 %
$450,001 - 500,000 19 $ 9,007,751.82 8.63 %
OVER $500,000 28 $ 16,947,118.70 16.23 %
------ ---------------- ------------
TOTAL 433 $ 104,394,658.10 100.00 %
====== ================
Outstanding principal balance of the smallest Mortgage Loan
at the Cut-Off Date: $21,688.24
Outstanding principal balance of the largest Mortgage Loan
at the Cut-Off Date: $988,196.43
33
<PAGE>
e) Years of initial Monthly Payment: 1997-8 Group III
AGGREGATE PERCENTAGE
YEAR NUMBER BALANCES AS OF AGGREGATE
OF OF OF THE CUT- BALANCE OF
PAYMENT LOANS OFF DATE POOL
------- ------ ---------------- ------------
1994 1 $ 389,913.34 0.37 %
1996 2 $ 445,741.83 0.43 %
1997 430 $ 103,559,002.93 99.20 %
------ ---------------- ------------
TOTAL 433 $ 104,394,658.10 100.00 %
====== ================
34
<PAGE>
f)Current Loan-to-Value Ratios: 1997-8 Group III
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 118 $ 22,691,784.74 21.74 %
60.01-70.00% 88 $ 23,253,571.13 22.27 %
70.01-75.00% 90 $ 22,488,870.50 21.54 %
75.01-80.00% 120 $ 32,586,008.38 31.21 %
80.01-85.00% 2 $ 616,053.71 0.59 %
85.01-90.00% 13 $ 2,242,914.40 2.15 %
90.01-95.00% 2 $ 515,455.24 0.49 %
95.01% OR MORE 0 $ .00 0.00 %
------ ---------------- ------------
TOTAL 433 $ 104,394,658.10 100.00 %
====== ================
35
<PAGE>
g)Types of Mortgaged Properties:1997-8 Group III
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
PROPERTY OF OF THE CUT- BALANCE OF
TYPES LOANS OFF DATE POOL
------------ ------ ----------------- ------------
SINGLE FAMILY DETACHED 322 $ 81,418,347.13 77.99 %
DUPLEX 14 $ 2,462,463.60 2.36 %
TRIPLEX 1 $ 47,020.01 0.05 %
FOURPLEX 2 $ 203,663.41 0.20 %
CONDOMINIUM 20 $ 3,361,195.66 3.22 %
PLANNED UNIT DEVELOPMENT 63 $ 16,745,754.83 16.04 %
HI-RISE CONDO 1 $ 156,213.46 0.15 %
------ ----------------- ------------
TOTAL 433 $ 104,394,658.10 100.00 %
====== =================
36
<PAGE>
h)Geographic Distribution by state:1997-8 Group III
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
OF OF THE CUT- BALANCE OF
STATE LOANS OFF DATE POOL
-------------------- ------ ----------------- ------------
ALABAMA 4 $ 560,638.38 0.54 %
ARIZONA 18 $ 4,582,155.42 4.39 %
ARKANSAS 1 $ 43,116.16 0.04 %
CALIFORNIA 112 $ 36,091,369.21 34.57 %
COLORADO 8 $ 1,768,545.76 1.69 %
CONNECTICUT 1 $ 217,950.27 0.21 %
DELAWARE 3 $ 543,884.54 0.52 %
DISTRICT OF COLUMBIA 1 $ 246,705.06 0.24 %
FLORIDA 36 $ 4,682,957.18 4.49 %
GEORGIA 11 $ 4,135,930.09 3.96 %
IDAHO 2 $ 168,608.71 0.16 %
ILLINOIS 27 $ 4,881,989.10 4.68 %
INDIANA 3 $ 1,242,649.20 1.19 %
KENTUCKY 4 $ 972,104.82 0.93 %
LOUISIANA 1 $ 247,720.69 0.24 %
MAINE 1 $ 386,203.18 0.37 %
MARYLAND 9 $ 3,051,324.83 2.92 %
MASSACHUSETTS 9 $ 2,295,423.37 2.20 %
MICHIGAN 30 $ 5,418,678.10 5.19 %
MINNESOTA 3 $ 415,909.35 0.40 %
MISSOURI 7 $ 1,300,294.79 1.25 %
MONTANA 2 $ 425,743.20 0.41 %
NEVADA 3 $ 856,091.19 0.82 %
NEW HAMPSHIRE 1 $ 258,458.74 0.25 %
NEW JERSEY 14 $ 3,101,746.51 2.97 %
NEW MEXICO 6 $ 692,844.08 0.66 %
NEW YORK 12 $ 2,244,728.16 2.15 %
NORTH CAROLINA 7 $ 1,977,927.43 1.89 %
OHIO 17 $ 3,583,354.92 3.43 %
OKLAHOMA 4 $ 332,530.34 0.32 %
OREGON 6 $ 1,309,478.61 1.25 %
PENNSYLVANIA 14 $ 5,061,617.62 4.85 %
SOUTH CAROLINA 5 $ 912,562.26 0.87 %
TENNESSEE 2 $ 352,755.13 0.34 %
TEXAS 31 $ 5,831,583.68 5.59 %
UTAH 1 $ 39,045.93 0.04 %
VIRGINIA 4 $ 851,484.60 0.82 %
WASHINGTON 2 $ 164,779.71 0.16 %
WISCONSIN 11 $ 3,143,767.78 3.01 %
------ ----------------- ------------
TOTAL 433 $ 104,394,658.10 100.00 %
====== ===============
37
<PAGE>
i) Scheduled maturity years:1997- Group III
AGGREGATE PERCENTAGE
YEAR NUMBER BALANCES AS OF AGGREGATE
OF OF OF THE CUT- BALANCE OF
MATURITY LOANS OFF DATE POOL
-------- ------ ------------------ ------------
2007 2 $ 87,127.01 0.08 %
2009 1 $ 389,913.34 0.37 %
2011 4 $ 955,391.38 0.92 %
2012 426 $ 102,962,226.37 98.63 %
------ ------------------ ------------
TOTAL 433 $ 104,394,658.10 100.00 %
====== ==================
Weighted average (by principal balance) remaining term
(adjusted for curtailments) of the Mortgage Loans
calculated as of the Cut-Off Date: 176.0 months
Latest scheduled maturity of any Mortgage Loan:
Novemebr ,2012
38
<PAGE>
j) Original Terms: 1997-8 Group III
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
LOAN TERM OF OF THE CUT- BALANCE OF
(IN MONTHS) LOANS OFF DATE POOL
--------------- ------ ---------------- ------------
120 2 $ 87,127.01 0.08 %
180 431 $ 104,307,531.09 99.92 %
------ ---------------- ------------
TOTAL 433 $ 104,394,658.10 100.00 %
====== ================
39
<PAGE>
k)Documentation Program Types: 1997-8 Group III
AGGREGATE PERCENTAGE
NUMBER BALANCES AS OF AGGREGATE
OF OF THE CUT- BALANCE OF
LOAN TYPE LOANS OFF DATE POOL
------------------------- ------ ---------------- ------------
NO RATIO 14 $ 2,410,963.85 2.31 %
FULL DOCUMENTATION 276 $ 82,441,765.53 78.97 %
LIMITED DOCUMENTATION 105 $ 15,978,064.52 15.31 %
NO VERIFY 38 $ 3,563,864.20 3.41 %
------ ---------------- ------------
TOTAL 433 $ 104,394,658.10 100.00 %
====== ================
40
<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, Certificate Administrator and Master Servicer,
IndyMac, Inc., as Master Servicer, and U.S. Bank National
Association, Trustee, dated as of November 1, 1997.
41
<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: December 8, 1997.
PNC MORTGAGE SECURITIES
CORP.
(Registrant)
By: \s\ Thomas G. Lehmann
--------------------------------
Thomas G. Lehmann
Vice President
(Authorized Officer)
42
<PAGE>
EXECUTION COPY
PNC MORTGAGE SECURITIES CORP.,
as Depositor, Certificate Administrator and Master Servicer
INDYMAC, INC.
as Master Servicer
and
U.S. BANK
NATIONAL ASSOCIATION,
as Trustee
POOLING AND SERVICING AGREEMENT
$836,949,642.78
PNC Mortgage Securities Corp.
Mortgage Pass-Through Certificates
Series 1997-8
Cut-Off Date: November 1, 1997
<PAGE>
TABLE OF CONTENTS
PAGE
Preliminary Statement . . . . . . . . . . . . . . . . . . . . . . . . . 1
ARTICLE I
Section 1.01. DEFINITIONS. . . . . . . . . . . . . . . . . . . . . . . 5
Accrual Amount . . . . . . . . . . . . . . . . . . . . . 5
Adjusted Lockout Percentage. . . . . . . . . . . . . . . 5
Aggregate Certificate Principal Balance. . . . . . . . . 5
Appraised Value. . . . . . . . . . . . . . . . . . . . . 5
Assignment of Proprietary Lease. . . . . . . . . . . . . 5
Authenticating Agent . . . . . . . . . . . . . . . . . . 5
Authorized Denomination. . . . . . . . . . . . . . . . . 5
Available Distribution Amount. . . . . . . . . . . . . . 5
Bankruptcy Coverage. . . . . . . . . . . . . . . . . . . 6
Bankruptcy Coverage Initial Amount . . . . . . . . . . . 7
Bankruptcy Loss. . . . . . . . . . . . . . . . . . . . . 7
Beneficial Holder: . . . . . . . . . . . . . . . . . . . 7
Book-Entry Certificates. . . . . . . . . . . . . . . . . 7
Business Day . . . . . . . . . . . . . . . . . . . . . . 7
Buydown Agreement. . . . . . . . . . . . . . . . . . . . 7
Buydown Fund . . . . . . . . . . . . . . . . . . . . . . 7
Buydown Fund Account . . . . . . . . . . . . . . . . . . 7
Buydown Loan . . . . . . . . . . . . . . . . . . . . . . 8
Certificate. . . . . . . . . . . . . . . . . . . . . . . 8
Certificate Account. . . . . . . . . . . . . . . . . . . 8
Certificate Account. . . . . . . . . . . . . . . . . . . 8
Certificate Administrator. . . . . . . . . . . . . . . . 8
Certificate Administrator Fee. . . . . . . . . . . . . . 8
Certificate Distribution Amount. . . . . . . . . . . . . 8
Certificate Principal Balance. . . . . . . . . . . . . . 21
Certificate Register and Certificate Registrar . . . . . 21
Certificateholder or Holder. . . . . . . . . . . . . . . 21
Class. . . . . . . . . . . . . . . . . . . . . . . . . . 21
Class A Certificates . . . . . . . . . . . . . . . . . . 22
Class B Certificates . . . . . . . . . . . . . . . . . . 22
Class I-A-1 Certificates . . . . . . . . . . . . . . . . 22
Class I-B-1 Certificates . . . . . . . . . . . . . . . . 22
Class I-B-2 Certificates . . . . . . . . . . . . . . . . 22
Class I-B-3 Certificates . . . . . . . . . . . . . . . . 22
Class I-B-4 Certificates . . . . . . . . . . . . . . . . 22
Class I-B-5 Certificates . . . . . . . . . . . . . . . . 22
Class I-B-6 Certificates . . . . . . . . . . . . . . . . 22
Class I-P Certificates . . . . . . . . . . . . . . . . . 22
Class I-P Fraction . . . . . . . . . . . . . . . . . . . 23
i
<PAGE>
PAGE
Class I-P Mortgage Loan. . . . . . . . . . . . . . . . . 23
Class I-X Certificates . . . . . . . . . . . . . . . . . 23
Class I-X Notional Amount. . . . . . . . . . . . . . . . 23
Class I-X-1 Certificates . . . . . . . . . . . . . . . . 23
Class I-X-1 Notional Amount. . . . . . . . . . . . . . . 23
Class I-X-2 Certificates . . . . . . . . . . . . . . . . 23
Class I-X-2 Notional Amount. . . . . . . . . . . . . . . 23
Class II-A-1 Certificates. . . . . . . . . . . . . . . . 23
Class II-A-2 Certificates. . . . . . . . . . . . . . . . 23
Class II-A-3 Certificates. . . . . . . . . . . . . . . . 23
Class II-A-4 Accretion Termination Date. . . . . . . . . 24
Class II-A-4 Accrual Amount. . . . . . . . . . . . . . . 24
Class II-A-4 Certificates. . . . . . . . . . . . . . . . 24
Class II-A-5 Certificates. . . . . . . . . . . . . . . . 24
Class II-A-6 Accretion Termination Date. . . . . . . . . 24
Class II-A-6 Accrual Amount. . . . . . . . . . . . . . . 24
Class II-A-6 Certificates. . . . . . . . . . . . . . . . 24
Class II-A-7 Certificates. . . . . . . . . . . . . . . . 24
Class II-A-8 Certificates. . . . . . . . . . . . . . . . 24
Class II-A-9 Certificates. . . . . . . . . . . . . . . . 24
Class II-A-10 Certificates . . . . . . . . . . . . . . . 25
Class II-B-1 Certificates. . . . . . . . . . . . . . . . 25
Class II-B-2 Certificates. . . . . . . . . . . . . . . . 25
Class II-B-3 Certificates. . . . . . . . . . . . . . . . 25
Class II-B-4 Certificates. . . . . . . . . . . . . . . . 25
Class II-B-5 Certificates. . . . . . . . . . . . . . . . 25
Class II-B-6 Certificates. . . . . . . . . . . . . . . . 25
Class II-P Certificates. . . . . . . . . . . . . . . . . 25
Class II-P Fraction. . . . . . . . . . . . . . . . . . . 25
Class II-P Mortgage Loan . . . . . . . . . . . . . . . . 26
Class II-X Certificates. . . . . . . . . . . . . . . . . 26
Class II-X Notional Amount . . . . . . . . . . . . . . . 26
Class III-B-1 Certificates . . . . . . . . . . . . . . . 26
Class III-B-2 Certificates . . . . . . . . . . . . . . . 26
Class III-B-3 Certificates . . . . . . . . . . . . . . . 26
Class III-B-4 Certificates . . . . . . . . . . . . . . . 26
Class III-B-5 Certificates . . . . . . . . . . . . . . . 26
Class III-B-6 Certificates . . . . . . . . . . . . . . . 26
Class III-P Certificates . . . . . . . . . . . . . . . . 26
Class III-PT Certificates. . . . . . . . . . . . . . . . 27
Class III-P Fraction . . . . . . . . . . . . . . . . . . 27
Class III-P Mortgage Loan. . . . . . . . . . . . . . . . 27
Class III-X Certificates . . . . . . . . . . . . . . . . 27
Class III-X Notional Amount. . . . . . . . . . . . . . . 27
Class Notional Amount. . . . . . . . . . . . . . . . . . 27
Class P Certificates . . . . . . . . . . . . . . . . . . 27
Class Principal Balance. . . . . . . . . . . . . . . . . 27
Class R Certificates . . . . . . . . . . . . . . . . . . 28
ii
<PAGE>
PAGE
Class X Certificates . . . . . . . . . . . . . . . . . . 28
Clearing Agency. . . . . . . . . . . . . . . . . . . . . 28
Closing Date . . . . . . . . . . . . . . . . . . . . . . 28
Code . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Collateral Reduction Trigger Date. . . . . . . . . . . . 28
Company. . . . . . . . . . . . . . . . . . . . . . . . . 28
Compensating Interest. . . . . . . . . . . . . . . . . . 28
Component. . . . . . . . . . . . . . . . . . . . . . . . 29
Component II-A-5-1 . . . . . . . . . . . . . . . . . . . 29
Component II-A-5-1 Accretion Termination Date. . . . . . 29
Component II-A-5-1 Accrual Amount. . . . . . . . . . . . 29
Component II-A-5-2 . . . . . . . . . . . . . . . . . . . 29
Component II-A-5-2 Accretion Termination Date. . . . . . 29
Component II-A-5-2 Accrual Amount. . . . . . . . . . . . 29
Component Principal Balance. . . . . . . . . . . . . . . 29
Cooperative. . . . . . . . . . . . . . . . . . . . . . . 30
Cooperative Apartment. . . . . . . . . . . . . . . . . . 30
Cooperative Lease. . . . . . . . . . . . . . . . . . . . 30
Cooperative Loans. . . . . . . . . . . . . . . . . . . . 30
Cooperative Stock. . . . . . . . . . . . . . . . . . . . 30
Cooperative Stock Certificate. . . . . . . . . . . . . . 30
Corporate Trust Office . . . . . . . . . . . . . . . . . 30
Curtailment. . . . . . . . . . . . . . . . . . . . . . . 30
Curtailment Shortfall. . . . . . . . . . . . . . . . . . 31
Custodial Account for P&I. . . . . . . . . . . . . . . . 31
Custodial Account for Reserves . . . . . . . . . . . . . 31
Custodial Agreement. . . . . . . . . . . . . . . . . . . 31
Custodian. . . . . . . . . . . . . . . . . . . . . . . . 31
Cut-Off Date . . . . . . . . . . . . . . . . . . . . . . 32
DCR. . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Definitive Certificates. . . . . . . . . . . . . . . . . 32
Depositary Agreement . . . . . . . . . . . . . . . . . . 32
Destroyed Mortgage Note. . . . . . . . . . . . . . . . . 32
Determination Date . . . . . . . . . . . . . . . . . . . 32
Disqualified Organization. . . . . . . . . . . . . . . . 32
Distribution Date. . . . . . . . . . . . . . . . . . . . 32
DTC. . . . . . . . . . . . . . . . . . . . . . . . . . . 32
DTC Participant. . . . . . . . . . . . . . . . . . . . . 32
Due Date . . . . . . . . . . . . . . . . . . . . . . . . 32
Eligible Institution . . . . . . . . . . . . . . . . . . 32
Eligible Investments . . . . . . . . . . . . . . . . . . 32
ERISA. . . . . . . . . . . . . . . . . . . . . . . . . . 34
Event of Default . . . . . . . . . . . . . . . . . . . . 34
Excess Liquidation Proceeds. . . . . . . . . . . . . . . 34
FDIC . . . . . . . . . . . . . . . . . . . . . . . . . . 34
FHA. . . . . . . . . . . . . . . . . . . . . . . . . . . 34
FHLB . . . . . . . . . . . . . . . . . . . . . . . . . . 34
FHLMC. . . . . . . . . . . . . . . . . . . . . . . . . . 34
iii
<PAGE>
PAGE
Fitch. . . . . . . . . . . . . . . . . . . . . . . . . . 34
FNMA . . . . . . . . . . . . . . . . . . . . . . . . . . 34
Fraud Coverage . . . . . . . . . . . . . . . . . . . . . 34
Fraud Coverage Initial Amount. . . . . . . . . . . . . . 34
Fraud Loss . . . . . . . . . . . . . . . . . . . . . . . 35
Group I Certificates . . . . . . . . . . . . . . . . . . 35
Group I Credit Support Depletion Date. . . . . . . . . . 35
Group I Loan . . . . . . . . . . . . . . . . . . . . . . 35
Group I Premium Rate Mortgage Loans. . . . . . . . . . . 35
Group I Senior Certificates. . . . . . . . . . . . . . . 35
Group I Senior Liquidation Amount. . . . . . . . . . . . 35
Group I Senior Percentage. . . . . . . . . . . . . . . . 35
Group I Senior Prepayment Percentage . . . . . . . . . . 35
Group I Senior Principal Distribution Amount . . . . . . 36
Group I Subordinate Liquidation Amount . . . . . . . . . 37
Group I Subordinate Percentage . . . . . . . . . . . . . 37
Group I Subordinate Prepayment Percentage. . . . . . . . 37
Group I Subordinate Principal Distribution Amount. . . . 37
Group I Subordinate Principal Prepayments Distribution
Amount. . . . . . . . . . . . . . . . . . . . . . . 37
Group I-B Certificates . . . . . . . . . . . . . . . . . 38
Group II Certificates. . . . . . . . . . . . . . . . . . 38
Group II Credit Support Depletion Date . . . . . . . . . 38
Group II Loan. . . . . . . . . . . . . . . . . . . . . . 38
Group II Premium Rate Mortgage Loans . . . . . . . . . . 38
Group II Senior Certificates . . . . . . . . . . . . . . 38
Group II Senior Liquidation Amount . . . . . . . . . . . 38
Group II Senior Percentage . . . . . . . . . . . . . . . 38
Group II Senior Prepayment Percentage. . . . . . . . . . 38
Group II Senior Principal Distribution Amount. . . . . . 39
Group II Subordinate Liquidation Amount. . . . . . . . . 40
Group II Subordinate Percentage. . . . . . . . . . . . . 40
Group II Subordinate Prepayment Percentage . . . . . . . 40
Group II Subordinate Principal Distribution Amount . . . 40
Group II Subordinate Principal Prepayments Distribution
Amount. . . . . . . . . . . . . . . . . . . . . . . 40
Group II-A Certificates. . . . . . . . . . . . . . . . . 41
Group II-B Certificates. . . . . . . . . . . . . . . . . 41
Group III Certificates . . . . . . . . . . . . . . . . . 41
Group III Credit Support Depletion Date. . . . . . . . . 41
Group III Loan . . . . . . . . . . . . . . . . . . . . . 41
Group III Premium Rate Mortgage Loans. . . . . . . . . . 41
Group III Senior Certificates. . . . . . . . . . . . . . 41
Group III Senior Liquidation Amount. . . . . . . . . . . 41
Group III Senior Percentage. . . . . . . . . . . . . . . 41
Group III Senior Prepayment Percentage . . . . . . . . . 41
Group III Senior Principal Distribution Amount . . . . . 43
Group III Subordinate Liquidation Amount . . . . . . . . 43
Group III Subordinate Percentage . . . . . . . . . . . . 43
Group III Subordinate Prepayment Percentage. . . . . . . 43
iv
<PAGE>
PAGE
Group III Subordinate Principal Distribution Amount. . . 43
Group III Subordinate Principal Prepayments
Distribution Amount . . . . . . . . . . . . . . . . 44
Group III-B Certificates . . . . . . . . . . . . . . . . 44
Indirect DTC Participants. . . . . . . . . . . . . . . . 44
IndyMac Mortgage Loan. . . . . . . . . . . . . . . . . . 44
Insurance Proceeds . . . . . . . . . . . . . . . . . . . 44
Interest Distribution Amount . . . . . . . . . . . . . . 44
Investment Account . . . . . . . . . . . . . . . . . . . 44
Investment Depository. . . . . . . . . . . . . . . . . . 44
Junior Subordinate Certificates. . . . . . . . . . . . . 44
Lender . . . . . . . . . . . . . . . . . . . . . . . . . 45
LIBOR. . . . . . . . . . . . . . . . . . . . . . . . . . 45
LIBOR Determination Date . . . . . . . . . . . . . . . . 45
Liquidated Mortgage Loan . . . . . . . . . . . . . . . . 46
Liquidation Principal. . . . . . . . . . . . . . . . . . 46
Liquidation Proceeds . . . . . . . . . . . . . . . . . . 46
Loan Group . . . . . . . . . . . . . . . . . . . . . . . 46
Loan Group I . . . . . . . . . . . . . . . . . . . . . . 46
Loan Group II. . . . . . . . . . . . . . . . . . . . . . 46
Loan Group III . . . . . . . . . . . . . . . . . . . . . 46
Loan-to-Value Ratio. . . . . . . . . . . . . . . . . . . 46
Lockout Liquidation Amount . . . . . . . . . . . . . . . 46
Lockout Percentage . . . . . . . . . . . . . . . . . . . 46
Lockout Prepayment Percentage. . . . . . . . . . . . . . 46
Lockout Principal Distribution Amount. . . . . . . . . . 47
Master Servicer. . . . . . . . . . . . . . . . . . . . . 47
Master Servicer's Section 3.12 Report. . . . . . . . . . 47
Master Servicer's Section 4.02 Report. . . . . . . . . . 47
Master Servicing Fee . . . . . . . . . . . . . . . . . . 47
Monthly P&I Advance. . . . . . . . . . . . . . . . . . . 47
Monthly Payment. . . . . . . . . . . . . . . . . . . . . 47
Mortgage . . . . . . . . . . . . . . . . . . . . . . . . 47
Mortgage File. . . . . . . . . . . . . . . . . . . . . . 47
Mortgage Interest Rate . . . . . . . . . . . . . . . . . 49
Mortgage Loan Schedule . . . . . . . . . . . . . . . . . 49
Mortgage Loans . . . . . . . . . . . . . . . . . . . . . 50
Mortgage Note. . . . . . . . . . . . . . . . . . . . . . 50
Mortgage Pool. . . . . . . . . . . . . . . . . . . . . . 50
Mortgaged Property . . . . . . . . . . . . . . . . . . . 50
Mortgagor. . . . . . . . . . . . . . . . . . . . . . . . 50
Nonrecoverable Advance . . . . . . . . . . . . . . . . . 50
Non-U.S. Person. . . . . . . . . . . . . . . . . . . . . 50
OTS. . . . . . . . . . . . . . . . . . . . . . . . . . . 51
Officer's Certificate. . . . . . . . . . . . . . . . . . 51
Opinion of Counsel . . . . . . . . . . . . . . . . . . . 51
Original Value . . . . . . . . . . . . . . . . . . . . . 51
Ownership Interest . . . . . . . . . . . . . . . . . . . 51
v
<PAGE>
PAGE
Pass-Through Entity. . . . . . . . . . . . . . . . . . . 51
Pass-Through Rate. . . . . . . . . . . . . . . . . . . . 51
Paying Agent . . . . . . . . . . . . . . . . . . . . . . 51
Payoff . . . . . . . . . . . . . . . . . . . . . . . . . 51
Payoff Earnings. . . . . . . . . . . . . . . . . . . . . 51
Payoff Interest. . . . . . . . . . . . . . . . . . . . . 52
Payoff Period. . . . . . . . . . . . . . . . . . . . . . 52
Percentage Interest. . . . . . . . . . . . . . . . . . . 52
Percentage Reduction Factor. . . . . . . . . . . . . . . 53
Permitted Transferee . . . . . . . . . . . . . . . . . . 53
Person . . . . . . . . . . . . . . . . . . . . . . . . . 53
Planned Principal Balance. . . . . . . . . . . . . . . . 53
PNC Mortgage Loan. . . . . . . . . . . . . . . . . . . . 53
Prepaid Monthly Payment. . . . . . . . . . . . . . . . . 53
Prepayment Period. . . . . . . . . . . . . . . . . . . . 53
Primary Insurance Policy . . . . . . . . . . . . . . . . 53
Principal Balance. . . . . . . . . . . . . . . . . . . . 53
Principal Payment. . . . . . . . . . . . . . . . . . . . 54
Principal Payment Amount . . . . . . . . . . . . . . . . 54
Principal Prepayment . . . . . . . . . . . . . . . . . . 54
Principal Prepayment Amount. . . . . . . . . . . . . . . 54
Prior Period . . . . . . . . . . . . . . . . . . . . . . 54
Pro Rata Allocation. . . . . . . . . . . . . . . . . . . 54
Purchase Obligation. . . . . . . . . . . . . . . . . . . 55
Purchase Price . . . . . . . . . . . . . . . . . . . . . 55
Qualified Insurer. . . . . . . . . . . . . . . . . . . . 55
Rating Agency. . . . . . . . . . . . . . . . . . . . . . 55
Ratings. . . . . . . . . . . . . . . . . . . . . . . . . 55
Realized Loss. . . . . . . . . . . . . . . . . . . . . . 55
Record Date. . . . . . . . . . . . . . . . . . . . . . . 58
Reference Banks. . . . . . . . . . . . . . . . . . . . . 58
Regular Interest Certificates. . . . . . . . . . . . . . 59
REMIC. . . . . . . . . . . . . . . . . . . . . . . . . . 59
REMIC Provisions . . . . . . . . . . . . . . . . . . . . 59
Remittance Rate. . . . . . . . . . . . . . . . . . . . . 59
Residual Certificates. . . . . . . . . . . . . . . . . . 59
Residual Distribution Amount . . . . . . . . . . . . . . 59
Responsible Officer. . . . . . . . . . . . . . . . . . . 59
S&P. . . . . . . . . . . . . . . . . . . . . . . . . . . 59
Scheduled Principal Balance. . . . . . . . . . . . . . . 59
Securities Act . . . . . . . . . . . . . . . . . . . . . 59
Security Agreement . . . . . . . . . . . . . . . . . . . 59
Selling and Servicing Contract . . . . . . . . . . . . . 60
Senior Certificates. . . . . . . . . . . . . . . . . . . 60
Servicer . . . . . . . . . . . . . . . . . . . . . . . . 60
Servicing Fee. . . . . . . . . . . . . . . . . . . . . . 60
Servicing Officer. . . . . . . . . . . . . . . . . . . . 60
Special Hazard Coverage. . . . . . . . . . . . . . . . . 60
vi
<PAGE>
PAGE
Special Hazard Coverage Initial Amount . . . . . . . . . 61
Special Hazard Loss. . . . . . . . . . . . . . . . . . . 61
Step Down Percentage . . . . . . . . . . . . . . . . . . 61
Stripped Interest Rate . . . . . . . . . . . . . . . . . 61
Subordinate Certificates . . . . . . . . . . . . . . . . 61
Subordination Level. . . . . . . . . . . . . . . . . . . 61
Substitute Mortgage Loan . . . . . . . . . . . . . . . . 62
Targeted Principal Balance . . . . . . . . . . . . . . . 62
Tax Matters Person . . . . . . . . . . . . . . . . . . . 62
Termination Date . . . . . . . . . . . . . . . . . . . . 62
Termination Payment. . . . . . . . . . . . . . . . . . . 62
Transfer . . . . . . . . . . . . . . . . . . . . . . . . 62
Transferee . . . . . . . . . . . . . . . . . . . . . . . 62
Transferee Affidavit and Agreement . . . . . . . . . . . 62
Trust Fund . . . . . . . . . . . . . . . . . . . . . . . 62
Trustee. . . . . . . . . . . . . . . . . . . . . . . . . 63
Uncollected Interest . . . . . . . . . . . . . . . . . . 63
Uncompensated Interest Shortfall . . . . . . . . . . . . 63
Underwriter. . . . . . . . . . . . . . . . . . . . . . . 63
Underwriting Standards . . . . . . . . . . . . . . . . . 63
Uninsured Cause. . . . . . . . . . . . . . . . . . . . . 63
U.S. Person. . . . . . . . . . . . . . . . . . . . . . . 63
VA . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Withdrawal Date. . . . . . . . . . . . . . . . . . . . . 63
ARTICLE II
CONVEYANCE OF THE TRUST FUND; REMIC ELECTION AND DESIGNATIONS;
ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. CONVEYANCE OF THE TRUST FUND; REMIC ELECTION AND
DESIGNATIONS.. . . . . . . . . . . . . . . . . . . . . . 65
Section 2.02. ACCEPTANCE BY TRUSTEE. . . . . . . . . . . . . . . . . . 69
Section 2.03. REPRESENTATIONS AND WARRANTIES OF THE COMPANY
CONCERNING THE MORTGAGE LOANS. . . . . . . . . . . . . . 71
Section 2.04. AUTHENTICATION OF THE CERTIFICATES. . . . . . . . . . . 75
ARTICLE III
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
Section 3.01. THE COMPANY TO ACT AS MASTER SERVICER WITH RESPECT TO
THE PNC MORTGAGE LOANS AND INDYMAC TO ACT AS MASTER
SERVICER WITH RESPECT TO THE INDYMAC MORTGAGE LOANS. . . 75
Section 3.02. CUSTODIAL ACCOUNTS . . . . . . . . . . . . . . . . . . . 77
Section 3.03. THE INVESTMENT ACCOUNTS; ELIGIBLE INVESTMENTS. . . . . . 78
Section 3.04. THE CERTIFICATE ACCOUNT. . . . . . . . . . . . . . . . . 79
vii
<PAGE>
PAGE
Section 3.05. PERMITTED WITHDRAWALS FROM THE CERTIFICATE ACCOUNT,
INVESTMENT ACCOUNTS AND CUSTODIAL ACCOUNTS FOR P&I AND
OF BUYDOWN FUNDS FROM THE BUYDOWN FUND ACCOUNTS. . . . . 79
Section 3.06. MAINTENANCE OF PRIMARY INSURANCE POLICIES; COLLECTIONS
THEREUNDER . . . . . . . . . . . . . . . . . . . . . . . 81
Section 3.07. MAINTENANCE OF HAZARD INSURANCE. . . . . . . . . . . . . 82
Section 3.08. ENFORCEMENT OF DUE-ON-SALE CLAUSES; ASSUMPTION
AGREEMENTS . . . . . . . . . . . . . . . . . . . . . . . 82
Section 3.09. REALIZATION UPON DEFAULTED MORTGAGE LOANS. . . . . . . . 83
Section 3.10. TRUSTEE TO COOPERATE; RELEASE OF MORTGAGE FILES. . . . . 85
Section 3.11. COMPENSATION TO THE CERTIFICATE ADMINISTRATOR, MASTER
SERVICERS AND THE SERVICERS. . . . . . . . . . . . . . . 86
Section 3.12. REPORTS TO THE TRUSTEE; CERTIFICATE ACCOUNT STATEMENT. . 86
Section 3.13. ANNUAL STATEMENT AS TO COMPLIANCE. . . . . . . . . . . . 87
Section 3.14. ACCESS TO CERTAIN DOCUMENTATION AND INFORMATION
REGARDING THE MORTGAGE LOANS . . . . . . . . . . . . . . 87
Section 3.15. ANNUAL INDEPENDENT PUBLIC ACCOUNTANTS' SERVICING
REPORT . . . . . . . . . . . . . . . . . . . . . . . . . 87
Section 3.16. [RESERVED.]. . . . . . . . . . . . . . . . . . . . . . . 87
Section 3.17. [RESERVED.]. . . . . . . . . . . . . . . . . . . . . . . 87
Section 3.18. [RESERVED.]. . . . . . . . . . . . . . . . . . . . . . . 87
Section 3.19. [RESERVED.]. . . . . . . . . . . . . . . . . . . . . . . 87
Section 3.20. [RESERVED.]. . . . . . . . . . . . . . . . . . . . . . . 87
Section 3.21. ASSUMPTION OR TERMINATION OF SELLING AND SERVICING
CONTRACTS BY TRUSTEE . . . . . . . . . . . . . . . . . . 87
ARTICLE IV
PAYMENTS TO CERTIFICATEHOLDERS; PAYMENT OF EXPENSES
Section 4.01. DISTRIBUTIONS TO CERTIFICATEHOLDERS. . . . . . . . . . . 88
Section 4.02. STATEMENTS TO CERTIFICATEHOLDERS . . . . . . . . . . . . 89
Section 4.03. ADVANCES BY THE MASTER SERVICERS; DISTRIBUTION REPORTS
TO THE TRUSTEE . . . . . . . . . . . . . . . . . . . . . 90
Section 4.04. NONRECOVERABLE ADVANCES. . . . . . . . . . . . . . . . . 91
ARTICLE V
THE CERTIFICATES
Section 5.01. THE CERTIFICATES . . . . . . . . . . . . . . . . . . . . 92
Section 5.02. CERTIFICATES ISSUABLE IN CLASSES; DISTRIBUTIONS OF
PRINCIPAL AND INTEREST; AUTHORIZED DENOMINATIONS . . . . 97
Section 5.03. REGISTRATION OF TRANSFER AND EXCHANGE OF CERTIFICATES. . 97
Section 5.04. MUTILATED, DESTROYED, LOST OR STOLEN CERTIFICATES. . . . 98
Section 5.05. PERSONS DEEMED OWNERS. . . . . . . . . . . . . . . . . . 98
Section 5.06. TEMPORARY CERTIFICATES . . . . . . . . . . . . . . . . . 98
Section 5.07. BOOK-ENTRY FOR BOOK-ENTRY CERTIFICATES.. . . . . . . . . 99
Section 5.08. NOTICES TO CLEARING AGENCY.. . . . . . . . . . . . . . . 100
viii
<PAGE>
PAGE
Section 5.09. DEFINITIVE CERTIFICATES. . . . . . . . . . . . . . . . . 100
Section 5.10. OFFICE FOR TRANSFER OF CERTIFICATES. . . . . . . . . . . 100
ARTICLE VI
THE COMPANY, THE MASTER SERVICERS AND THE CERTIFICATE ADMINISTRATOR
Section 6.01. LIABILITY OF THE COMPANY, THE MASTER SERVICERS AND THE
CERTIFICATE ADMINISTRATOR. . . . . . . . . . . . . . . . 101
Section 6.02. MERGER OR CONSOLIDATION OF THE COMPANY, A MASTER
SERVICER OR THE CERTIFICATE ADMINISTRATOR. . . . . . . . 101
Section 6.03. LIMITATION ON LIABILITY OF THE COMPANY, THE MASTER
SERVICERS, THE CERTIFICATE ADMINISTRATOR AND OTHERS. . . 101
Section 6.04. THE COMPANY, EACH MASTER SERVICER AND THE CERTIFICATE
ADMINISTRATOR NOT TO RESIGN. . . . . . . . . . . . . . . 102
ARTICLE VII
DEFAULT
Section 7.01. EVENTS OF DEFAULT. . . . . . . . . . . . . . . . . . . . 102
Section 7.02. TRUSTEE TO ACT; APPOINTMENT OF SUCCESSOR . . . . . . . . 106
Section 7.03. NOTIFICATION TO CERTIFICATEHOLDERS . . . . . . . . . . . 107
ARTICLE VIII
CONCERNING THE TRUSTEE
Section 8.01. DUTIES OF TRUSTEE. . . . . . . . . . . . . . . . . . . . 107
Section 8.02. CERTAIN MATTERS AFFECTING THE TRUSTEE. . . . . . . . . . 108
Section 8.03. TRUSTEE NOT LIABLE FOR CERTIFICATES OR MORTGAGE LOANS. . 109
Section 8.04. TRUSTEE MAY OWN CERTIFICATES . . . . . . . . . . . . . . 110
Section 8.05. THE CERTIFICATE ADMINISTRATOR TO PAY TRUSTEE'S FEES AND
EXPENSES . . . . . . . . . . . . . . . . . . . . . . . . 110
Section 8.06. ELIGIBILITY REQUIREMENTS FOR TRUSTEE . . . . . . . . . . 110
Section 8.07. RESIGNATION AND REMOVAL OF TRUSTEE . . . . . . . . . . . 110
Section 8.08. SUCCESSOR TRUSTEE. . . . . . . . . . . . . . . . . . . . 111
Section 8.09. MERGER OR CONSOLIDATION OF TRUSTEE . . . . . . . . . . . 111
Section 8.10. APPOINTMENT OF CO-TRUSTEE OR SEPARATE TRUSTEE. . . . . . 112
Section 8.11. AUTHENTICATING AGENTS. . . . . . . . . . . . . . . . . . 113
Section 8.12. PAYING AGENTS. . . . . . . . . . . . . . . . . . . . . . 113
ARTICLE IX
TERMINATION
Section 9.01. TERMINATION UPON REPURCHASE BY THE COMPANY OR
LIQUIDATION OF ALL MORTGAGE LOANS. . . . . . . . . . . . 114
Section 9.02. ADDITIONAL TERMINATION REQUIREMENTS. . . . . . . . . . . 116
ix
<PAGE>
PAGE
Section 9.03. TRUST IRREVOCABLE. . . . . . . . . . . . . . . . . . . . 116
ARTICLE X
MISCELLANEOUS PROVISIONS
Section 10.01. AMENDMENT. . . . . . . . . . . . . . . . . . . . . . . . 116
Section 10.02. RECORDATION OF AGREEMENT . . . . . . . . . . . . . . . . 117
Section 10.03. LIMITATION ON RIGHTS OF CERTIFICATEHOLDERS . . . . . . . 117
Section 10.04. ACCESS TO LIST OF CERTIFICATEHOLDERS . . . . . . . . . . 118
Section 10.05. GOVERNING LAW. . . . . . . . . . . . . . . . . . . . . . 119
Section 10.06. NOTICES. . . . . . . . . . . . . . . . . . . . . . . . . 119
Section 10.07. SEVERABILITY OF PROVISIONS . . . . . . . . . . . . . . . 119
Section 10.08. COUNTERPART SIGNATURES . . . . . . . . . . . . . . . . . 120
Section 10.09. BENEFITS OF AGREEMENT. . . . . . . . . . . . . . . . . . 120
Section 10.10. NOTICES AND COPIES TO RATING AGENCY. . . . . . . . . . . 120
x
<PAGE>
EXHIBITS
Exhibit A -- Forms of Certificates
Exhibit B -- Form of Residual Certificates
Exhibit C -- [Reserved.]
Exhibit D -- Schedule of Mortgage Loans
Exhibit E -- Form of Selling and Servicing Contract
Exhibit F -- Form of Transferor Certificate for Class I-B-4, Class I-B-5,
Class I-B-6, Class II-B-4, Class II-B-5, Class II-B-6, Class III-
B-4, Class III-B-5 and Class III-B-6 Certificates
Exhibit G -- Form of Transferee's Certificate for Class I-B-4, Class I-B-5,
Class I-B-6, Class II-B-4, Class II-B-5, Class II-B-6, Class III-
B-4, Class III-B-5 and Class III-B-6 Certificates
Exhibit H -- [Reserved.]
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 Mortgage Loans having a Loan-to-Value Ratio at the
time of the origination of the Mortgage Loan in excess of 80%
which were not covered by a Primary Insurance Policy, an FHA
insurance policy or a VA Guaranty
Exhibit O -- Planned Principal Balances
Exhibit P -- Targeted Principal Balances
Exhibit Q -- Percentage Reduction Factors
xi
<PAGE>
This Pooling and Servicing Agreement, dated and effective as of November
1, 1997 (this "Agreement"), is executed by and among PNC Mortgage Securities
Corp. (the "Company"), as Depositor, Certificate Administrator and Master
Servicer, IndyMac, Inc., as Master Servicer, and U.S. 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 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. The Company 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 Certificates issued hereunder, other than the Class I-B-4, Class
I-B-5, Class I-B-6, Class II-B-4, Class II-B-5, Class II-B-6, Class III-B-4,
Class III-B-5 and Class III-B-6 Certificates, have been offered for sale
pursuant to a Prospectus, dated November 24, 1997, and a Prospectus
Supplement, dated November 24, 1997, of the Company (together, the
"Prospectus"). The Class I-B-4, Class I-B-5, Class I-B-6, Class II-B-4, Class
II-B-5, Class II-B-6, Class III-B-4, Class III-B-5 and Class III-B-6
Certificates have been offered for sale pursuant to a Private Placement
Memorandum, dated November 25, 1997. The Trust Fund created hereunder is
intended to be the "Trust" as described in the Prospectus and the Private
Placement Memorandum 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:
1
<PAGE>
<TABLE>
<CAPTION>
INITIAL CLASS
REMITTANCE PRINCIPAL LAST SCHEDULED
DESIGNATION TYPE OF INTEREST RATE(1) BALANCE DISTRIBUTION DATE*
<S> <C> <C> <C> <C>
Class I-A-1 Regular 7.250% $363,533,005.00 January 25, 2028
Class II-A-1 Regular 7.000% 85,246,108.00 December 27, 2027
Class II-A-2 Regular 7.000% 72,411,210.00 December 27, 2027
Class II-A-3 Regular 7.000% 65,563,181.00 December 27, 2027
Class II-A-4 Regular 7.000%(2) 6,388,029.00 December 27, 2027
Class II-A-5 Regular 7.000%(3) 10,490,109.00 December 27, 2027
Class II-A-6 Regular 7.000%(4) 555,409.00 December 27, 2027
Class II-A-7 Regular 7.000% 7,423,000.00 December 27, 2027
Class II-A-8 Regular 7.000% 59,639,283.00 December 27, 2027
Class II-A-9 Regular 7.000% 4,901,652.00 December 27, 2027
Class II-A-10 Regular 7.000% 10,086,644.00 December 27, 2027
Class III-PT Regular 6.750% 100,539,062.00 December 26, 2012
Class I-X-1 Regular (5) 0.00 January 25, 2028
Class I-X-2 Regular (6) 0.00 January 25, 2028
Class II-X Regular 7.000%(7) 0.00 December 27, 2027
Class III-X Regular 6.750%(8) 0.00 December 26, 2012
Class I-P Regular (9) 152,576.72 January 25, 2028
Class II-P Regular (9) 142,701.19 December 27, 2027
Class III-P Regular (9) 201,782.40 December 26, 2012
Class I-B-1 Regular 7.250% 10,725,313.00 January 25, 2028
Class I-B-2 Regular 7.250% 6,825,198.00 January 25, 2028
Class I-B-3 Regular 7.250% 4,290,125.00 January 25, 2028
Class I-B-4 Regular 7.250% 2,145,062.00 January 25, 2028
Class I-B-5 Regular 7.250% 780,023.00 January 25, 2028
Class I-B-6 Regular 7.250% 1,560,046.50 January 25, 2028
Class II-B-1 Regular 7.000% 11,132,668.00 December 27, 2027
Class II-B-2 Regular 7.000% 3,254,165.00 December 27, 2027
Class II-B-3 Regular 7.000% 1,712,718.00 December 27, 2027
Class II-B-4 Regular 7.000% 1,541,446.00 December 27, 2027
Class II-B-5 Regular 7.000% 1,027,630.00 December 27, 2027
Class II-B-6 Regular 7.000% 1,027,633.27 December 27, 2027
Class III-B-1 Regular 6.750% 2,244,486.00 December 26, 2012
Class III-B-2 Regular 6.750% 417,579.00 December 26, 2012
Class III-B-3 Regular 6.750% 313,184.00 December 26, 2012
2
<PAGE>
Class III-B-4 Regular 6.750% 260,987.00 December 26, 2012
Class III-B-5 Regular 6.750% 208,789.00 December 26, 2012
Class III-B-6 Regular 6.750% 208,788.70 December 26, 2012
Class R+ Residual 7.000% 50.00 January 25, 2028
</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 the Residual Distribution
Amount and Excess Liquidation Proceeds.
(1) Interest distributed to the Offered Certificates (other than the Class P
Certificates, which will not be entitled to receive distributions of
interest) on each Distribution Date will have accrued during the preceding
calendar month at the applicable per annum Remittance Rate, except for the
LIBOR Certificates which will accrue interest during the period from the
25th day of the month prior to each Distribution Date to the 24th day of
the month of such Distribution Date.
(2) On each Distribution Date on or before the Class II-A-4 Accretion
Termination Date, an amount equal to the Class II-A-4 Accrual Amount will
be added to the Class II-A-4 Principal Balance, and such amount will be
distributed as principal to other Classes of Certificates as described
herein and will not be distributed as interest to the Class II-A-4
Certificates.
(3) For purposes of calculating distributions, the Class II-A-5 Certificates
will be comprised of two Components having the designations, initial
Component Balances and Remittance Rates set forth below:
INITIAL COMPONENT
DESIGNATION BALANCE REMITTANCE RATE
Component II-A-5-1 $2,596,302 7.000%(A)
Component II-A-5-2 7,893,807 7.000%(B)
(A) On each Distribution Date prior to the Component II-A-5-1 Accretion
Termination Date, an amount equal to the Component II-A-5-1 Accrual
Amount will be added to the Component II-A-5-1 Principal Balance, and
such amount will be distributed as principal to other Components and
Classes of Certificates as described herein and will not be
distributed as interest to Component II-A-5-1.
(B) On each Distribution Date prior to the Component II-A-5-2 Accretion
Termination Date, an amount equal to the Component II-A-5-2 Accrual
Amount will be added to the Component II-A-5-2 Principal Balance, and
such amount will be distributed as principal to other Components and
Classes of Certificates as described herein and will not be
distributed as interest to Component II-A-5-2.
(4) On each Distribution Date on or before the Class II-A-6 Accretion
Termination Date, an amount equal to the Class II-A-6 Accrual Amount will
be added to the Class II-A-6 Principal Balance, and such amount will be
distributed as principal to other Classes of Certificates as described
herein and will not be distributed as interest to the Class II-A-6
Certificates.
(5) The initial Remittance Rate for the Class I-X-1 Certificates will be 5.250%
per annum. Thereafter, the Class I-X-1 Certificates will accrue interest
at a per annum rate equal to four multiplied by LIBOR minus 17.500%,
subject to a minimum and maximum Remittance Rate of 0% and 14.500% per
annum, respectively. The Class I-X-1 Certificates will accrue interest on
the Class I-X-1 Notional Amount. For each Group I Premium Rate Mortgage
Loan the foregoing rate reduces to interest on the principal balance of
such Mortgage Loan at a per annum rate equal to the product of (a) the
Stripped Interest Rate for such Mortgage Loan and (b) the difference (i)
27.5862068965517 times LIBOR (expressed as a fraction) minus (ii)
1.20689655172414, subject to a minimum rate of 0% and a maximum rate equal
to the Stripped Interest Rate for such Mortgage Loan.
(6) The initial Remittance Rate for the Class I-X-2 Certificates will be 9.250%
per annum. Thereafter, the Class I-X-2 Certificates will accrue interest
at a per annum rate equal to 32.000% minus four multiplied by LIBOR,
subject to a minimum and maximum Remittance Rate of 0% and 14.500% per
annum, respectively. The Class I-X-2 Certificates will accrue interest on
the Class I-X-2 Notional Amount. For each Group I Premium Rate Mortgage
Loan the foregoing rate reduces to interest on the principal balance of
such Mortgage Loan at a per annum rate equal to the product of (a) the
Stripped Interest Rate for such Mortgage Loan and (b) the difference (i)
2.20689655172414 minus (ii) 27.5862068965517 times LIBOR (expressed as a
fraction), subject to a minimum rate of 0% and a maximum rate equal to the
Stripped Interest Rate for such Mortgage Loan.
3
<PAGE>
(7) The Remittance Rate on the Class II-X Certificates will be 7.000% per
annum. The Class II-X Certificates will accrue interest on the Class II-X
Notional Amount.
(8) The Remittance Rate on the Class III-X Certificates will be 6.750% per
annum. The Class III-X Certificates will accrue interest on the Class III-
X Notional Amount.
(9) The Class I-P, Class II-P and Class III-P Certificates will not have a
Remittance Rate and will not be entitled to distributions of interest.
As provided herein, with respect to the Trust Fund, the Company will
cause an election to be made on behalf of the Trust Fund to be treated for
federal income tax purposes as a REMIC. The Certificates (other than the
Class R Certificates) will be designated "regular interests" in the Trust
Fund and the Class R Certificates will be designated the sole class of
"residual interests" in the Trust Fund, for purposes of the REMIC Provisions.
As of the Cut-Off Date, the Mortgage Loans have an aggregate Principal
Balance of $836,949,642.78, and the Certificates have an Aggregate
Certificate Principal Balance of $836,949,642.78.
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, IndyMac, Inc. 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;
and
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.
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, the Company covenants
and agrees with the Trustee, for the equal and proportionate benefit of the
respective Holders from time to time of the Certificates, as follows:
4
<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:
ACCRUAL AMOUNT: The Class II-A-4 Accrual Amount, Class II-A-6 Accrual
Amount, Component II-A-5-1 Accrual Amount or Component II-A-5-2 Accrual Amount,
as applicable.
ADJUSTED LOCKOUT PERCENTAGE: With respect to any Distribution Date prior to
the Distribution Date in December 2002, 0% and with respect to any Distribution
Date on or after the Distribution Date in December 2002, the Lockout Percentage.
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.
ASSIGNMENT OF PROPRIETARY LEASE: With respect to a Cooperative Loan, the
assignment of the related Cooperative Lease from the Mortgagor to the originator
of the Cooperative Loan.
AUTHENTICATING AGENT: Any authenticating agent appointed by the Trustee
pursuant to Section 8.11.
AUTHORIZED DENOMINATION: With respect to the Certificates (other than
the Class II-A-7, Class X and Class R Certificates), an initial Certificate
Principal Balance equal to $25,000 each and integral multiples of $1 in
excess thereof, except that one Certificate of each of the Class I-P, Class
II-P, Class III-P, Class I-B-6, Class II-B-6 and Class III-B-6 Certificate
may be issued in a different amount. With respect to the Class II-A-7
Certificates, an initial Certificate Principal Balance equal to $1,000 and
integral multiples of $1 in excess thereof. With respect to the Class X
Certificates, a Class Notional Amount as of the Cut-Off Date equal to
$100,000 and integral multiples of $1 in excess thereof, except that one
Certificate of each such Class may be issued in a different amount. With
respect to the 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 DISTRIBUTION AMOUNT: With respect to each Loan Group, on any
Distribution Date, the sum of the following amounts with respect to the
Mortgage Loans in such Loan Group:
(1) the total amount of all cash received by or on behalf of the
Master Servicers 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, proceeds of such Mortgage Loans
which have been liquidated and scheduled amounts of distributions from
Buydown Funds respecting Buydown Loans, if any), except:
(a) all scheduled payments of principal and interest
collected but due on a date subsequent to the related Due Date;
5
<PAGE>
(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 after the applicable Prepayment
Period immediately preceding such Determination Date (together
with any interest payment received with such Payoffs to the
extent that it represents the payment of interest accrued on such
Mortgage Loan for the period subsequent to the Prior Period), and
with respect to PNC Mortgage Loans, interest accrued during the
period from the 1st to the 14th day of the month of such
Determination Date, which interest shall not be included in the
calculation of the Available Distribution Amount for any
Distribution Date;
(d) Insurance Proceeds and Liquidation Proceeds on such
Mortgage Loans received after the Prior Period;
(e) all amounts in the Certificate Account which are due
and reimbursable to a Servicer or a Master Servicer pursuant to
the terms of this Agreement;
(f) the sum of the Master Servicing Fee, the Servicing Fee
and the Certificate Administrator Fee, for each such Mortgage
Loan; and
(g) Excess Liquidation Proceeds;
(2) the sum, to the extent not previously distributed, of the
following amounts, to the extent advanced or received, as applicable, by
either Master Servicer by the Distribution Date:
(a) any Monthly P&I Advance made by either Master Servicer
to the Trustee with respect to such Distribution Date; and
(b) Compensating Interest; and
(3) the total amount, to the extent not previously distributed, of
all cash received by the Distribution Date by the Trustee or either Master
Servicer, in respect of a Purchase Obligation under Section 2.02 and
Section 2.03 or any permitted repurchase of a Mortgage Loan.
BANKRUPTCY COVERAGE: With respect to a Loan Group, the Bankruptcy
Coverage Initial Amount for such Loan Group, less (a) any scheduled or
permissible reduction in the amount of Bankruptcy Coverage pursuant to this
definition and (b) Bankruptcy Losses allocated to the Certificates of the
related Certificate Group. 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.
6
<PAGE>
BANKRUPTCY COVERAGE INITIAL AMOUNT: With respect to the Group I
Certificates, $107,830, with respect to the Group II Certificates, $113,235
and with respect to the Group III Certificates, $100,000.
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
banking institutions in Chicago, Illinois or New York, New York 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
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 applicable
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.
7
<PAGE>
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 Trustee, the Investment Depository or any other bank or trust
company acceptable to the Rating Agency 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. Funds in the Certificate Account in respect of the
Mortgage Loans in Loan Group I, the Mortgage Loans in Loan Group II and the
Mortgage Loans in Loan Group III 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 shall be paid to the
Certificate Administrator as additional compensation for the Certificate
Administrator's duties under this Agreement. Funds deposited in the
Certificate Account (exclusive of the Master Servicing Fee and Certificate
Administrator Fee) shall be held in trust for the Certificateholders and for
the uses and purposes set forth in Section 3.04, Section 3.05 and Section
4.01.
CERTIFICATE ACCOUNT STATEMENT: With respect to the Certificate Account,
a statement delivered by the Certificate Administrator to the Trustee
pursuant to Section 3.12.
CERTIFICATE ADMINISTRATOR: PNC Mortgage Securities Corp., a Delaware
corporation, its successor-in-interest or any successor thereto appointed as
provided pursuant to Section 7.02.
CERTIFICATE ADMINISTRATOR FEE: The fee charged by the Certificate
Administrator for performing its duties under this Agreement equal to a per
annum rate of 0.005% for each Mortgage Loan.
CERTIFICATE DISTRIBUTION AMOUNT: (I) For any Distribution Date prior to
the Group I, Group II or Group III Credit Support Depletion Date, as
applicable, the Available Distribution Amount for the related Loan Group
shall be distributed to the Certificates of the related Certificate Group in
the following amounts and priority:
(a) With respect to the Group I Certificates, on any Distribution Date
prior to the Group I Credit Support Depletion Date, to the extent of the
Available Distribution Amount for Loan Group I remaining following prior
distributions, if any, on such Distribution Date:
(i) First, to the Class I-P Certificates, the
aggregate for all Class I-P Mortgage Loans of the product
for each Class I-P Mortgage Loan of the applicable Class
I-P Fraction and the sum of (x) scheduled payments of
principal on such Class I-P Mortgage Loan due on or before
the related Due Date in respect of which no distribution
has been made on any previous Distribution Date and which
were received
8
<PAGE>
by the Determination Date, or which have been advanced as
part of a Monthly P&I Advance with respect to such
Distribution Date, (y) the principal portion received in
respect of such Class I-P Mortgage Loan during the Prior
Period of (1) Curtailments, (2) Insurance Proceeds, (3)
the amount, if any, of the principal portion of the
Purchase Price pursuant to a Purchase Obligation or any
repurchase of a Mortgage Loan permitted hereunder and (4)
Liquidation Proceeds and (z) the principal portion of
Payoffs received in respect of such Class I-P Mortgage
Loan during the applicable Prepayment Period;
(ii) Second, to the Class I-A-1 and Class I-X
Certificates, concurrently, the sum of the Interest
Distribution Amounts for such Classes of Certificates
remaining unpaid from previous Distribution Dates, pro
rata according to their respective shares of such unpaid
amounts;
(iii) Third, to the Class I-A-1 and Class I-X
Certificates, concurrently, the sum of the Interest
Distribution Amounts for such Classes of Certificates for
the current Distribution Date, pro rata according to their
respective Interest Distribution Amounts;
(iv) Fourth, to the Class I-A-1 Certificates, the
Group I Senior Principal Distribution Amount;
(v) Fifth, to the Class I-P Certificates, to the
extent of amounts otherwise available to pay the Group I
Subordinate Principal Distribution Amount (without regard
to clause (B) of the definition thereof) on such
Distribution Date, the amount payable to the Class I-P
Certificates on previous Distribution Dates pursuant to
clause (I)(a)(vi) of this definition of "Certificate
Distribution Amount" and remaining unpaid from such
previous Distribution Dates;
(vi) Sixth, to the Class I-P Certificates as
principal, to the extent of amounts otherwise available to
pay the Group I Subordinate Principal Distribution Amount
(without regard to clause (B) of the definition thereof)
on such Distribution Date, an amount equal to the Class
I-P Fraction of any Realized Loss on a Class I-P Mortgage
Loan, other than a Special Hazard Loss, Fraud Loss or
Bankruptcy Loss in excess of the Group I Special Hazard
Coverage, Group I Fraud Coverage or Group I Bankruptcy
Coverage, as applicable, PROVIDED that any amounts
distributed in respect of losses pursuant to paragraph
(I)(a)(v) or this paragraph (I)(a)(vi) of this definition
of "Certificate Distribution Amount" shall not cause a
further reduction in the Class I-P Principal Balance;
(vii) Seventh, to the Class I-B-1 Certificates, the
Interest Distribution Amount for such Class of
Certificates remaining unpaid from previous Distribution
Dates;
(viii) Eighth, to the Class I-B-1 Certificates, the
Interest Distribution Amount for such Class of
Certificates for the current Distribution Date;
(ix) Ninth, to the Class I-B-1 Certificates, the
portion of the Group I Subordinate Principal Distribution
Amount allocable to such Class of Certificates pursuant to
the
9
<PAGE>
definition of "Group I Subordinate Principal Distribution
Amount" herein, until the Class I-B-1 Principal Balance
has been reduced to zero;
(x) Tenth, to the Class I-B-2 Certificates, the
Interest Distribution Amount for such Class of
Certificates remaining unpaid from previous Distribution
Dates;
(xi) Eleventh, to the Class I-B-2 Certificates, the
Interest Distribution Amount for such Class of
Certificates for the current Distribution Date;
(xii) Twelfth, to the Class I-B-2 Certificates, the
portion of the Group I Subordinate Principal Distribution
Amount allocable to such Class of Certificates pursuant to
the definition of "Group I Subordinate Principal
Distribution Amount" herein, until the Class I-B-2
Principal Balance has been reduced to zero;
(xiii) Thirteenth, to the Class I-B-3 Certificates, the
Interest Distribution Amount for such Class of
Certificates remaining unpaid from previous Distribution
Dates;
(xiv) Fourteenth, to the Class I-B-3 Certificates, the
Interest Distribution Amount for such Class of
Certificates for the current Distribution Date;
(xv) Fifteenth, to the Class I-B-3 Certificates, the
portion of the Group I Subordinate Principal Distribution
Amount allocable to such Class of Certificates pursuant to
the definition of "Group I Subordinate Principal
Distribution Amount" herein, until the Class I-B-3
Principal Balance has been reduced to zero;
(xvi) Sixteenth, to the Class I-B-4 Certificates, the
Interest Distribution Amount for such Class of
Certificates remaining unpaid from previous Distribution
Dates;
(xvii) Seventeenth, to the Class I-B-4 Certificates,
the Interest Distribution Amount for such Class of
Certificates for the current Distribution Date;
(xviii) Eighteenth, to the Class I-B-4 Certificates, the
portion of the Group I Subordinate Principal Distribution
Amount allocable to such Class of Certificates pursuant to
the definition of "Group I Subordinate Principal
Distribution Amount" herein, until the Class I-B-4
Principal Balance has been reduced to zero;
(xix) Nineteenth, to the Class I-B-5 Certificates, the
Interest Distribution Amount for such Class of
Certificates remaining unpaid from previous Distribution
Dates;
(xx) Twentieth, to the Class I-B-5 Certificates, the
Interest Distribution Amount for such Class of
Certificates for the current Distribution Date;
(xxi) Twenty-first, to the Class I-B-5 Certificates,
the portion of the Group I Subordinate Principal
Distribution Amount allocable to such Class of
Certificates pursuant to the definition of "Group I
Subordinate Principal Distribution Amount" herein, until
the Class I-B-5 Principal Balance has been reduced to zero;
10
<PAGE>
(xxii) Twenty-second, to the Class I-B-6 Certificates,
the Interest Distribution Amount for such Class of
Certificates remaining unpaid from previous Distribution
Dates;
(xxiii) Twenty-third, to the Class I-B-6 Certificates,
the Interest Distribution Amount for such Class of
Certificates for the current Distribution Date;
(xxiv) Twenty-fourth, to the Class I-B-6 Certificates,
the portion of the Group I Subordinate Principal
Distribution Amount allocable to such Class of
Certificates pursuant to the definition of "Group I
Subordinate Principal Distribution Amount" herein, until
the Class I-B-6 Principal Balance has been reduced to zero;
(xxv) Twenty-fifth, to each Class of Group I-B
Certificates in the order of seniority, the remaining
portion, if any, of the Available Distribution Amount for
Loan Group I, up to the amount of unreimbursed Realized
Losses previously allocated to such Class, if any,
provided that any amounts distributed in respect of losses
pursuant to this paragraph (I)(a)(xxv) of this definition
of "Certificate Distribution Amount" shall not cause a
further reduction in the Class Principal Balances of the
Group I-B Certificates; and
(xxvi) Twenty-sixth, to the Class R Certificates, the
Residual Distribution Amount for Loan Group I for such
Distribution Date;
(b) With respect to the Group II and Class R Certificates, on any
Distribution Date prior to the Group II Credit Support Depletion Date, to the
extent of the Available Distribution Amount for Loan Group II remaining
following prior distributions, if any, on such Distribution Date:
(i) First, to the Class II-P Certificates, the
aggregate for all Class II-P Mortgage Loans of the product
for each Class II-P Mortgage Loan of the applicable Class
II-P Fraction and the sum of (x) scheduled payments of
principal on such Class II-P Mortgage Loan due on or
before the related Due Date in respect of which no
distribution has been made on any previous Distribution
Date and which were received by the Determination Date, or
which have been advanced as part of a Monthly P&I Advance
with respect to such Distribution Date, (y) the principal
portion received in respect of such Class II-P Mortgage
Loan during the Prior Period of (1) Curtailments, (2)
Insurance Proceeds, (3) the amount, if any, of the
principal portion of the Purchase Price pursuant to a
Purchase Obligation or any repurchase of a Mortgage Loan
permitted hereunder and (4) Liquidation Proceeds and (z)
the principal portion of Payoffs received in respect of
such Class II-P Mortgage Loan during the Prepayment Period;
(ii) Second, to the Group II-A, Class II-X and Class
R Certificates, concurrently, the sum of the Interest
Distribution Amounts for such Classes of Certificates or
Components remaining unpaid from previous Distribution
Dates, pro rata according to their respective shares of
such unpaid amounts; provided, however, that (i) on or
before the Class II-A-4 Accretion Termination Date, the
amount that would otherwise be payable to the Class II-A-4
Certificates pursuant to this clause (I)(b)(ii) will be
paid instead as principal as described in clause
(I)(b)(iii)(b) of this definition of Certificate
Distribution Amount, (ii) on or before the Class II-A-6
Accretion Termination Date, the amount that would
otherwise be payable to the Class II-A-6 Certificates
pursuant
11
<PAGE>
to this clause (I)(b)(ii) will be paid instead as principal as described in
clause (I)(b)(iii)(c) of this definition of Certificate Distribution Amount,
(iii) prior to the Component II-A-5-1 Accretion Termination Date, the amount
that would otherwise be payable to Component II-A-5-1 pursuant to this clause
(I)(b)(ii) will be paid instead as principal as described in clause
(I)(b)(iii)(d) of this definition of Certificate Distribution Amount and (iv)
prior to the Component II-A-5-2 Accretion Termination Date, the amount that
would otherwise be payable to Component II-A-5-2 pursuant to this clause
(I)(b)(ii) will be paid instead as principal as described in clause
(I)(b)(iii)(e) of this definition of Certificate Distribution Amount;
(iii) Third,
(a) to the Group II-A, Class II-X and Class R Certificates,
concurrently, the sum of the Interest Distribution Amounts for such
Classes of Certificates or Components for the current Distribution Date,
pro rata according to their respective Interest Distribution Amounts;
(b) on or before the Class II-A-4 Accretion Termination Date, the
Class II-A-4 Accrual Amount, as principal, as follows:
(1) first, to the Class II-A-2 Certificates, to the extent
necessary to reduce the Class II-A-2 Principal Balance to
its Targeted Principal Balance for such Distribution Date;
and
(2) second, to the Class II-A-4 Certificates, until the Class
II-A-4 Principal Balance has been reduced to zero;
(c) on or before the Class II-A-6 Accretion Termination Date, the
Class II-A-6 Accrual Amount, as principal, as follows:
(1) first, to the Class II-A-10 Certificates, to the extent
necessary to reduce the Class II-A-10 Principal Balance to
its Targeted Principal Balance for such Distribution Date;
and
(2) second, to the Class II-A-6 Certificates, until the Class
II-A-6 Principal Balance has been reduced to zero;
(d) prior to the Component II-A-5-1 Accretion Termination Date, the
Component II-A-5-1 Accrual Amount, as principal, as follows:
(1) first, to the Class II-A-3 Certificates, to the extent
necessary to reduce the Class II-A-3 Principal Balance to
its Targeted Principal Balance for such Distribution Date;
(2) second, to Component II-A-5-2, until the Component II-A-5-2
Principal Balance has been reduced to zero;
12
<PAGE>
(3) third, to the Class II-A-3 Certificates, until the Class
II-A-3 Principal Balance has been reduced to zero; and
(4) fourth, to Component II-A-5-1, until the Component II-A-5-1
Principal Balance has been reduced to zero; and
(e) prior to the Component II-A-5-2 Accretion Termination Date, the
Component II-A-5-2 Accrual Amount, as principal, as follows:
(1) first, to the Class II-A-3 Certificates, to the extent
necessary to reduce the Class II-A-3 Principal Balance
to its Targeted Principal Balance for such
Distribution Date; and
(2) second, to Component II-A-5-2, until the Component II-
A-5-2 Principal Balance has been reduced to zero;
(iv) Fourth, to the Group II-A and Class R Certificates, the Group II
Senior Principal Distribution Amount as follows:
(a) first, to the Class II-A-8 and Class II-A-9 Certificates, pro
rata, an amount, up to the amount of the Lockout Principal Distribution
Amount (as defined below) for such Distribution Date, until the Principal
Balances of the Class II-A-8 and Class II-A-9 Certificates have been
reduced to zero;
(b) second, to the Class R Certificates, the portion of the Group
II Senior Principal Distribution Amount remaining after the distribution
in paragraph (I)(b)(iv)(a) above, until the Class R Principal Balance
has been reduced to zero;
(c) third, to the Class II-A-1 Certificates, the portion of the
Group II Senior Principal Distribution Amount remaining after the
distributions in paragraph (I)(b)(iv)(a) and (b) above, to the extent
necessary to reduce the Class II-A-1 Principal Balance to its Planned
Principal Balance for such Distribution Date;
(d) fourth, the portion of the Group II Senior Principal
Distribution Amount remaining after the distributions in paragraph
(I)(b)(iv)(a) through (c) above, concurrently, as follows, until the
Class Principal Balances thereof have been reduce to zero:
(1) 6.4304540193% sequentially as follows:
(A) first, to the Class II-A-10 Certificates, to the
extent necessary to reduce the Class II-A-10 Principal
Balance to its Targeted Principal Balance for such
Distribution Date; and
(B) second, to the Class II-A-6 Certificates, until the
Class II-A-6 Principal Balance has been reduced to zero;
and
13
<PAGE>
(C) third, to the Class II-A-10 Certificates, until the
Class II-A-10 Principal Balance has been reduced to zero;
(2) 47.6143919926% sequentially as follows:
(A) first, to the Class II-A-2 Certificates, to the extent
necessary to reduce the Class II-A-2 Principal Balance to
its Targeted Principal Balance for such Distribution
Date;
(B) second, to the Class II-A-4 Certificates, until the
Class II-A-4 Principal Balance has been reduced to zero;
and
(C) third, to the Class II-A-2 Certificates, until the
Class II-A-2 Principal Balance has been reduced to zero;
and
(3) 45.9551539881% sequentially as follows:
(I) prior to the Collateral Reduction Trigger Date, as
follows:
(a) first, to the Class II-A-3 Certificates, to the
extent necessary to reduce the Class II-A-3 Principal
Balance to its Targeted Principal Balance for such
Distribution Date;
(b) second, to Component II-A-5-2, until the Component
II-A-5-2 Principal Balance has been reduced to zero;
(c) third, to the Class II-A-3 Certificates, until the
Class II-A-3 Principal Balance has been reduced to
zero; and
(d) fourth, to Component II-A-5-1, until the Component
II-A-5-1 Principal Balance has been reduced to zero;
(II) on or after the Collateral Reduction Trigger Date, as
follows:
(a) first, to Component II-A-5-1, until the Component
II-A-5-1 Principal Balance has been reduced to zero;
(b) second, to Component II-A-5-2, until the Component
II-A-5-2 Principal Balance has been reduced to zero;
and
(c) third, to the Class II-A-3 Certificates, until the
Class II-A-3 Principal Balance has been reduced to
zero;
(e) fifth, to the Class II-A-1 Certificates, the portion of the
Group II Senior Principal Distribution Amount remaining after the
distributions in paragraph (I)(b)(iv)(a) through (d) above, until the
Class II-A-1 Principal Balance has been reduced to zero;
14
<PAGE>
(f) sixth, to the Class II-A-7 Certificates, the portion of the
Group II Senior Principal Distribution Amount remaining after the
distributions in paragraph (I)(b)(iv)(a) through (e) described above,
until the Class II-A-7 Principal Balance has been reduced to zero; and
(g) seventh, to the Class II-A-8 and Class II-A-9 Certificates, pro
rata, the portion of the Group II Senior Principal Distribution Amount
remaining after the distributions in paragraph (I)(b)(iv)(a) through (f)
described above, until the Class II-A-8 and Class II-A-9 Principal
Balances have been reduced to zero;
(v) Fifth, to the Class II-P Certificates, to the extent of amounts
otherwise available to pay the Group II Subordinate Principal Distribution
Amount (without regard to clause (B) of the definition thereof) on such
Distribution Date, the amount payable to the Class II-P Certificates on
previous Distribution Dates pursuant to clause (I)(b)(vi) of this definition
of "Certificate Distribution Amount" and remaining unpaid from such previous
Distribution Dates;
(vi) Sixth, to the Class II-P Certificates, to the extent of amounts
otherwise available to pay the Group II Subordinate Principal Distribution
Amount (without regard to clause (B) of the definition thereof) on such
Distribution Date, an amount equal to the Class II-P Fraction of any Realized
Loss on a Class II-P Mortgage Loan, other than a Special Hazard Loss, Fraud
Loss or Bankruptcy Loss in excess of the Group II Special Hazard Coverage,
Group II Fraud Coverage or Group II Bankruptcy Coverage, as applicable,
PROVIDED that any amounts distributed in respect of losses pursuant to
paragraph (I)(b)(v) or this paragraph (I)(b)(vi) of this definition of
"Certificate Distribution Amount" shall not cause a further reduction in the
Class II-P Principal Balance;
(vii) Seventh, to the Class II-B-1 Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(viii) Eighth, to the Class II-B-1 Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(ix) Ninth, to the Class II-B-1 Certificates, the portion of the Group
II Subordinate Principal Distribution Amount allocable to such Class of
Certificates pursuant to the definition of "Group II Subordinate Principal
Distribution Amount" herein, until the Class II-B-1 Principal Balance has
been reduced to zero;
(x) Tenth, to the Class II-B-2 Certificates, the Interest Distribution
Amount for such Class of Certificates remaining unpaid from previous
Distribution Dates;
(xi) Eleventh, to the Class II-B-2 Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(xii) Twelfth, to the Class II-B-2 Certificates, the portion of the
Group II Subordinate Principal Distribution Amount allocable to such Class of
Certificates
15
<PAGE>
pursuant to the definition of "Group II Subordinate Principal
Distribution Amount" herein, until the Class II-B-2 Principal
Balance has been reduced to zero;
(xiii) Thirteenth, to the Class II-B-3 Certificates, the
Interest Distribution Amount for such Class of Certificates
remaining unpaid from previous Distribution Dates;
(xiv) Fourteenth, to the Class II-B-3 Certificates, the
Interest Distribution Amount for such Class of Certificates
for the current Distribution Date;
(xv) Fifteenth, to the Class II-B-3 Certificates, the
portion of the Group II Subordinate Principal Distribution
Amount allocable to such Class of Certificates pursuant to the
definition of "Group II Subordinate Principal Distribution
Amount" herein, until the Class II-B-3 Principal Balance has
been reduced to zero;
(xvi) Sixteenth, to the Class II-B-4 Certificates, the
Interest Distribution Amount for such Class of Certificates
remaining unpaid from previous Distribution Dates;
(xvii) Seventeenth, to the Class II-B-4 Certificates, the
Interest Distribution Amount for such Class of Certificates
for the current Distribution Date;
(xviii) Eighteenth, to the Class II-B-4 Certificates, the
portion of the Group II Subordinate Principal Distribution
Amount allocable to such Class of Certificates pursuant to the
definition of "Group II Subordinate Principal Distribution
Amount" herein, until the Class II-B-4 Principal Balance has
been reduced to zero;
(xix) Nineteenth, to the Class II-B-5 Certificates, the
Interest Distribution Amount for such Class of Certificates
remaining unpaid from previous Distribution Dates;
(xx) Twentieth, to the Class II-B-5 Certificates, the
Interest Distribution Amount for such Class of Certificates
for the current Distribution Date;
(xxi) Twenty-first, to the Class II-B-5 Certificates, the
portion of the Group II Subordinate Principal Distribution
Amount allocable to such Class of Certificates pursuant to the
definition of "Group II Subordinate Principal Distribution
Amount" herein, until the Class II-B-5 Principal Balance has
been reduced to zero;
(xxii) Twenty-second, to the Class II-B-6 Certificates,
the Interest Distribution Amount for such Class of
Certificates remaining unpaid from previous Distribution
Dates;
(xxiii) Twenty-third, to the Class II-B-6 Certificates,
the Interest Distribution Amount for such Class of
Certificates for the current Distribution Date;
(xxiv) Twenty-fourth, to the Class II-B-6 Certificates,
the portion of the Group II Subordinate Principal Distribution
Amount allocable to such Class of Certificates pursuant to the
definition of "Group II Subordinate Principal Distribution
Amount" herein, until the Class II-B-6 Principal Balance has
been reduced to zero;
16
<PAGE>
(xxv) Twenty-fifth, to each Class of Group II-B Certificates in the
order of seniority, the remaining portion, if any, of the Available
Distribution Amount for Loan Group II, up to the amount of unreimbursed
Realized Losses previously allocated to such Class, if any, provided
that any amounts distributed in respect of losses pursuant to this
paragraph (I)(b)(xxv) of this definition of "Certificate Distribution
Amount" shall not cause a further reduction in the Class Principal
Balances of the Group II-B Certificates; and
(xxvi) Twenty-sixth, to the Class R Certificates, the Residual
Distribution Amount for Loan Group II for such Distribution Date; and
(c) With respect to the Group III and Class R Certificates, on any
Distribution Date prior to the Group III Credit Support Depletion Date, to the
extent of the Available Distribution Amount for Loan Group III remaining
following prior distributions, if any, on such Distribution Date:
(i) First, to the Class III-P Certificates, the aggregate for all
Class III-P Mortgage Loans of the product for each Class III-P Mortgage
Loan of the applicable Class III-P Fraction and the sum of (x) scheduled
payments of principal on such Class III-P Mortgage Loan due on or before
the related Due Date in respect of which no distribution has been made
on any previous Distribution Date and which were received by the
Determination Date, or which have been advanced as part of a Monthly P&I
Advance with respect to such Distribution Date, (y) the principal
portion received in respect of such Class III-P Mortgage Loan during the
Prior Period of (1) Curtailments, (2) Insurance Proceeds, (3) the
amount, if any, of the principal portion of the Purchase Price pursuant
to a Purchase Obligation or any repurchase of a Mortgage Loan permitted
hereunder and (4) Liquidation Proceeds and (z) the principal portion of
Payoffs received in respect of such Class III-P Mortgage Loan during the
Prepayment Period;
(ii) Second, to the Class III-PT and Class III-X Certificates,
concurrently, the sum of the Interest Distribution Amounts for such
Classes of Certificates remaining unpaid from previous Distribution
Dates, pro rata according to their respective shares of such unpaid
amounts;
(iii) Third, to the Class III-PT and Class III-X Certificates,
concurrently, the sum of the Interest Distribution Amounts for such
Classes of Certificates for the current Distribution Date, pro rata
according to their respective Interest Distribution Amounts;
(iv) Fourth, to the Class III-PT Certificates, the Group III
Senior Principal Distribution Amount;
(v) Fifth, to the Class III-P Certificates, to the extent of
amounts otherwise available to pay the Group III Subordinate Principal
Distribution Amount (without regard to clause (B) of the definition
thereof) on such Distribution Date, the amount payable to the Class
III-P Certificates on previous Distribution Dates pursuant to clause
(I)(c)(vi) of this definition of "Certificate Distribution Amount" and
remaining unpaid from such previous Distribution Dates;
17
<PAGE>
(vi) Sixth, to the Class III-P Certificates as principal, to the
extent of amounts otherwise available to pay the Group III Subordinate
Principal Distribution Amount (without regard to clause (B) of the
definition thereof) on such Distribution Date, an amount equal to the
Class III-P Fraction of any Realized Loss on a Class III-P Mortgage
Loan, other than a Special Hazard Loss, Fraud Loss or Bankruptcy Loss in
excess of the Group III Special Hazard Coverage, Group III Fraud
Coverage or Group III Bankruptcy Coverage, as applicable, PROVIDED that
any amounts distributed in respect of losses pursuant to paragraph
(I)(c)(v) or this paragraph (I)(c)(vi) of this definition of
"Certificate Distribution Amount" shall not cause a further reduction in
the Class III-P Principal Balance;
(vii) Seventh, to the Class III-B-1 Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(viii) Eighth, to the Class III-B-1 Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(ix) Ninth, to the Class III-B-1 Certificates, the portion of the
Group III Subordinate Principal Distribution Amount allocable to such
Class of Certificates pursuant to the definition of "Group III
Subordinate Principal Distribution Amount" herein, until the Class
III-B-1 Principal Balance has been reduced to zero;
(x) Tenth, to the Class III-B-2 Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(xi) Eleventh, to the Class III-B-2 Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(xii) Twelfth, to the Class III-B-2 Certificates, the portion of
the Group III Subordinate Principal Distribution Amount allocable to
such Class of Certificates pursuant to the definition of "Group III
Subordinate Principal Distribution Amount" herein, until the Class
III-B-2 Principal Balance has been reduced to zero;
(xiii) Thirteenth, to the Class III-B-3 Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(xiv) Fourteenth, to the Class III-B-3 Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(xv) Fifteenth, to the Class III-B-3 Certificates, the portion of
the Group III Subordinate Principal Distribution Amount allocable to
such Class of Certificates pursuant to the definition of "Group III
Subordinate Principal Distribution Amount" herein, until the Class
III-B-3 Principal Balance has been reduced to zero;
(xvi) Sixteenth, to the Class III-B-4 Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
18
<PAGE>
(xvii) Seventeenth, to the Class III-B-4 Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(xviii) Eighteenth, to the Class III-B-4 Certificates, the portion
of the Group III Subordinate Principal Distribution Amount allocable to
such Class of Certificates pursuant to the definition of "Group III
Subordinate Principal Distribution Amount" herein, until the Class
III-B-4 Principal Balance has been reduced to zero;
(xix) Nineteenth, to the Class III-B-5 Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(xx) Twentieth, to the Class III-B-5 Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(xxi) Twenty-first, to the Class III-B-5 Certificates, the portion
of the Group III Subordinate Principal Distribution Amount allocable to
such Class of Certificates pursuant to the definition of "Group III
Subordinate Principal Distribution Amount" herein, until the Class
III-B-5 Principal Balance has been reduced to zero;
(xxii) Twenty-second, to the Class III-B-6 Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xxiii) Twenty-third, to the Class III-B-6 Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xxiv) Twenty-fourth, to the Class III-B-6 Certificates, the
portion of the Group III Subordinate Principal Distribution Amount
allocable to such Class of Certificates pursuant to the definition of
"Group III Subordinate Principal Distribution Amount" herein, until the
Class III-B-6 Principal Balance has been reduced to zero;
(xxv) Twenty-fifth, to each Class of Group III-B Certificates in
the order of seniority, the remaining portion, if any, of the Available
Distribution Amount for Loan Group III, up to the amount of unreimbursed
Realized Losses previously allocated to such Class, if any, provided
that any amounts distributed in respect of losses pursuant to this
paragraph (I)(c)(xxv) of this definition of "Certificate Distribution
Amount" shall not cause a further reduction in the Class Principal
Balances of the Group III-B Certificates; and
(xxvi) Twenty-sixth, to the Class R Certificates, the Residual
Distribution Amount for Loan Group I for such Distribution Date;
(II) For any Distribution Date on or after the Group I, Group II or
Group III Credit Support Depletion Date, as applicable, the Available
Distribution Amount for the related Loan Group shall be distributed to the
outstanding Classes of Certificates of the related Certificate Group in the
following amounts and priority:
(a) With respect to the Class I-A-1, Class I-X and Class I-P
Certificates, on any Distribution Date on or after the Group I Credit Support
Depletion Date, to the extent of the Available
19
<PAGE>
Distribution Amount for Loan Group I remaining following prior distributions,
if any, on such Distribution Date:
(i) First, to the Class I-P Certificates, principal in the amount
that would otherwise be distributed to such Class on such Distribution
Date pursuant to clause (I)(a)(i) of this definition of "Certificate
Distribution Amount";
(ii) Second, to the Class I-A-1 and Class I-X Certificates, the
amount payable to each such Class of Certificates on prior Distribution
Dates pursuant to clause (I)(a)(ii) or (II)(a)(iii) of this definition
of "Certificate Distribution Amount," and remaining unpaid, pro rata
according to such amount payable to the extent of amounts available;
(iii) Third, to the Class I-A-1 and Class I-X Certificates,
concurrently, the sum of the Interest Distribution Amounts for such
Classes of Certificates for the current Distribution Date, pro rata
according to their respective Interest Distribution Amounts;
(iv) Fourth, to the Class I-A-1 Certificates, the Group I Senior
Principal Distribution Amount until the Class I-A-1 Principal Balances
have been reduced to zero; and
(v) Fifth, to the Class R Certificates, the Residual Distribution
Amount for Loan Group I for such Distribution Date;
(b) With respect to the Group II-A, Class II-X, Class II-P and Class R
Certificates, on any Distribution Date on or after the Group II Credit
Support Depletion Date, to the extent of the Available Distribution Amount
for Loan Group II remaining following prior distributions, if any, on such
Distribution Date:
(i) First, to the Class II-P Certificates, principal in the amount
that would otherwise be distributed to such Class on such Distribution
Date pursuant to clause (I)(b)(i) of this definition of "Certificate
Distribution Amount";
(ii) Second, to the Group II-A, Class II-X and Class R, the amount
payable to each such Class of Certificates or Component on prior
Distribution Dates pursuant to clause (I)(b)(ii) or (II)(b)(iii) of this
definition of "Certificate Distribution Amount," and remaining unpaid,
pro rata according to such amount payable to the extent of amounts
available;
(iii) Third, to the Group II-A, Class II-X and Class R
Certificates, concurrently, the sum of the Interest Distribution Amounts
for such Classes of Certificates or Components for the current
Distribution Date, pro rata according to their respective Interest
Distribution Amounts;
(iv) Fourth, to the Group II-A Certificates, the Group II Senior
Principal Distribution Amount allocated pro rata according to their
respective Class or Component Principal Balances until such Class or
Component Principal Balances have been reduced to zero; and
20
<PAGE>
(v) Fifth, to the Class R Certificates, the Residual Distribution
Amount for Loan Group II for such Distribution Date; and
(c) With respect to the Class III-A-1, Class III-X and Class III-P
Certificates, on any Distribution Date on or after the Group III Credit
Support Depletion Date, to the extent of the Available Distribution Amount
for Loan Group III remaining following prior distributions, if any, on such
Distribution Date:
(i) First, to the Class III-P Certificates, principal in the
amount that would otherwise be distributed to such Class on such
Distribution Date pursuant to clause (I)(c)(i) of this definition of
"Certificate Distribution Amount";
(ii) Second, to the Class III-PT and Class III-X Certificates, the
amount payable to each such Class of Certificates on prior Distribution
Dates pursuant to clause (I)(c)(ii) or (II)(c)(iii) of this definition
of "Certificate Distribution Amount," and remaining unpaid, pro rata
according to such amount payable to the extent of amounts available;
(iii) Third, to the Class III-PT and Class III-X Certificates,
concurrently, the sum of the Interest Distribution Amounts for such
Classes of Certificates for the current Distribution Date, pro rata
according to their respective Interest Distribution Amounts;
(iv) Fourth, to the Class III-PT Certificates, the Group I Senior
Principal Distribution Amount until the Class III-A-1 Principal
Balances have been reduced to zero; and
(v) Fifth, to the Class R Certificates, the Residual Distribution
Amount for Loan Group III for such Distribution Date.
CERTIFICATE PRINCIPAL BALANCE: For each Certificate of any Class, 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.
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 Certificate Administrator, a 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, the Certificate
Administrator or the Master Servicer.
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" only to the
extent of
21
<PAGE>
the Available Distribution Amount 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-1, Class II-A-1, Class II-A-2,
Class II-A-3, Class II-A-4, Class II-A-5, Class II-A-6, Class II-A-7, Class
II-A-8, Class II-A-9, Class II-A-10 and Class III-PT Certificates,
collectively.
CLASS B CERTIFICATES: The Group I-B, Group II-B and Group III-B
Certificates, collectively.
CLASS I-A-1 CERTIFICATES: The Certificates designated as "Class
I-A-1" on the face thereof in substantially the form attached hereto as
Exhibit A-1. The Class I-A-1 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-B-1 CERTIFICATES: The Certificates designated as "Class
I-B-1" on the face thereof in substantially the form attached hereto as
Exhibit A-20. The Class I-B-1 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-B-2 CERTIFICATES: The Certificates designated as "Class
I-B-2" on the face thereof in substantially the form attached hereto as
Exhibit A-21. The Class I-B-2 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-B-3 CERTIFICATES: The Certificates designated as "Class
I-B-3" on the face thereof in substantially the form attached hereto as
Exhibit A-22. The Class I-B-3 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-B-4 CERTIFICATES: The Certificates designated as "Class
I-B-4" on the face thereof in substantially the form attached hereto as
Exhibit A-23. The Class I-B-4 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-B-5 CERTIFICATES: The Certificates designated as "Class
I-B-5" on the face thereof in substantially the form attached hereto as
Exhibit A-24. The Class I-B-5 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-B-6 CERTIFICATES: The Certificates designated as "Class
I-B-6" on the face thereof in substantially the form attached hereto as
Exhibit A-25. The Class I-B-6 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-P CERTIFICATES: The Certificates designated as "Class I-P"
on the face thereof in substantially the form attached hereto as Exhibit
A-13. Except as otherwise described herein, the Class I-P Certificates, all
of which are related to the Class I-P Mortgage Loans, shall be entitled to
receive distributions related solely to such Class I-P Mortgage Loans.
22
<PAGE>
CLASS I-P FRACTION: For each Class I-P Mortgage Loan, a fraction,
the numerator of which is 7.250% less the Pass-Through Rate on such Class I-P
Mortgage Loan and the denominator of which is 7.250%.
CLASS I-P MORTGAGE LOAN: Any Group I Loan with a Pass-Through Rate
of less than 7.250% per annum.
CLASS I-X CERTIFICATES: The Class I-X-1 and Class I-X-2
Certificates, collectively.
CLASS I-X NOTIONAL AMOUNT: With respect to any Distribution Date,
the product of (x) the aggregate scheduled principal balance, as of the
second preceding Due Date after giving effect to payments scheduled to be
received as of such Due Date, whether or not received, or with respect to the
initial Distribution Date, as of the Cut-Off Date, of the Group I Premium
Rate Mortgage Loans and (y) a fraction, the numerator of which is the
weighted average of the Stripped Interest Rates for the Group I Premium Rate
Mortgage Loans as of such Due Date and the denominator of which is 7.250%.
CLASS I-X-1 CERTIFICATES: The Certificates designated as "Class
I-X-1" on the face thereof in substantially the form attached hereto as
Exhibit A-16. The Class I-X-1 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-X-1 NOTIONAL AMOUNT: With respect to any Distribution Date,
one-half of the Class I-X Notional Amount.
CLASS I-X-2 CERTIFICATES: The Certificates designated as "Class
I-X-2" on the face thereof in substantially the form attached hereto as
Exhibit A-17. The Class I-X-2 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-X-2 NOTIONAL AMOUNT: With respect to any Distribution Date,
one-half of the Class I-X Notional Amount.
CLASS II-A-1 CERTIFICATES: The Certificates designated as "Class
II-A-1" on the face thereof in substantially the form attached hereto as
Exhibit A-2. The Class II-A-1 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-2 CERTIFICATES: The Certificates designated as "Class
II-A-2" on the face thereof in substantially the form attached hereto as
Exhibit A-3. The Class II-A-2 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-3 CERTIFICATES: The Certificates designated as "Class
II-A-3" on the face thereof in substantially the form attached hereto as
Exhibit A-4. The Class II-A-3 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.
23
<PAGE>
CLASS II-A-4 ACCRETION TERMINATION DATE: The earlier to occur of (i)
the Distribution Date on which the Class II-A-2 Principal Balance has been
reduced to zero and (ii) the Group II Credit Support Depletion Date.
CLASS II-A-4 ACCRUAL AMOUNT: On any Distribution Date, an amount
equal to the amount allocable to the Class II-A-4 Certificates on such
Distribution Date pursuant to the definition of "Interest Distribution
Amount" herein, without regard to the proviso at the end of the first
sentence of such definition. Notwithstanding the foregoing, for any
Distribution Date after the Class II-A-4 Accretion Termination Date, the
Class II-A-4 Accrual Amount shall be zero.
CLASS II-A-4 CERTIFICATES: The Certificates designated as "Class
II-A-4" on the face thereof in substantially the form attached hereto as
Exhibit A-5. The Class II-A-4 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-5 CERTIFICATES: The Certificates designated as "Class
II-A-5" on the face thereof in substantially the form attached hereto as
Exhibit A-6. The Class II-A-5 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-6 ACCRETION TERMINATION DATE: The earlier to occur of (i)
the Distribution Date on which the Class II-A-10 Principal Balance has been
reduced to zero and (ii) the Group II Credit Support Depletion Date.
CLASS II-A-6 ACCRUAL AMOUNT: On any Distribution Date, an amount
equal to the amount allocable to the Class II-A-6 Certificates on such
Distribution Date pursuant to the definition of "Interest Distribution
Amount" herein, without regard to the proviso at the end of the first
sentence of such definition. Notwithstanding the foregoing, for any
Distribution Date after the Class II-A-6 Accretion Termination Date, the
Class II-A-6 Accrual Amount shall be zero.
CLASS II-A-6 CERTIFICATES: The Certificates designated as "Class
II-A-6" on the face thereof in substantially the form attached hereto as
Exhibit A-7. The Class II-A-6 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-7 CERTIFICATES: The Certificates designated as "Class
II-A-7" on the face thereof in substantially the form attached hereto as
Exhibit A-8. The Class II-A-7 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-8 CERTIFICATES: The Certificates designated as "Class
II-A-8" on the face thereof in substantially the form attached hereto as
Exhibit A-9. The Class II-A-8 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-9 CERTIFICATES: The Certificates designated as "Class
II-A-9" on the face thereof in substantially the form attached hereto as
Exhibit A-10. The Class II-A-9 Certificates, all of
24
<PAGE>
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-10 CERTIFICATES: The Certificates designated as "Class
II-A-10" on the face thereof in substantially the form attached hereto as
Exhibit A-11. The Class II-A-10 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-B-1 CERTIFICATES: The Certificates designated as "Class
II-B-1" on the face thereof in substantially the form attached hereto as
Exhibit A-26. The Class II-B-1 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-B-2 CERTIFICATES: The Certificates designated as "Class
II-B-2" on the face thereof in substantially the form attached hereto as
Exhibit A-27. The Class II-B-2 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-B-3 CERTIFICATES: The Certificates designated as "Class
II-B-3" on the face thereof in substantially the form attached hereto as
Exhibit A-28. The Class II-B-3 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-B-4 CERTIFICATES: The Certificates designated as "Class
II-B-4" on the face thereof in substantially the form attached hereto as
Exhibit A-29. The Class II-B-4 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-B-5 CERTIFICATES: The Certificates designated as "Class
II-B-5" on the face thereof in substantially the form attached hereto as
Exhibit A-30. The Class II-B-5 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-B-6 CERTIFICATES: The Certificates designated as "Class
II-B-6" on the face thereof in substantially the form attached hereto as
Exhibit A-31. The Class II-B-6 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-P CERTIFICATES: The Certificates designated as "Class II-P"
on the face thereof in substantially the form attached hereto as Exhibit
A-14. Except as otherwise described herein, the Class II-P Certificates, all
of which are related to the Class II-P Mortgage Loans, shall be entitled to
receive distributions related solely to such Class II-P Mortgage Loans.
CLASS II-P FRACTION: For each Class II-P Mortgage Loan, a fraction,
the numerator of which is 7.000% less the Pass-Through Rate on such Class
II-P Mortgage Loan and the denominator of which is 7.000%.
25
<PAGE>
CLASS II-P MORTGAGE LOAN: Any Group II Loan with a Pass-Through Rate
of less than 7.000% per annum.
CLASS II-X CERTIFICATES: The Certificates designated as "Class II-X"
on the face thereof in substantially the form attached hereto as Exhibit
A-18. The Class II-X 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-X NOTIONAL AMOUNT: With respect to any Distribution Date,
the product of (x) the aggregate scheduled principal balance, as of the
second preceding Due Date after giving effect to payments scheduled to be
received as of such Due Date, whether or not received, or with respect to the
initial Distribution Date, as of the Cut-Off Date, of the Group II Premium
Rate Mortgage Loans and (y) a fraction, the numerator of which is the
weighted average of the Stripped Interest Rates for the Group II Premium Rate
Mortgage Loans as of such Due Date and the denominator of which is 7.000%.
CLASS III-B-1 CERTIFICATES: The Certificates designated as "Class
III-B-1" on the face thereof in substantially the form attached hereto as
Exhibit A-32. The Class III-B-1 Certificates, all of which are related to the
Mortgage Loans in Loan Group III, shall be entitled to receive distributions
related solely to such Mortgage Loans.
CLASS III-B-2 CERTIFICATES: The Certificates designated as "Class
III-B-2" on the face thereof in substantially the form attached hereto as
Exhibit A-33. The Class III-B-2 Certificates, all of which are related to the
Mortgage Loans in Loan Group III, shall be entitled to receive distributions
related solely to such Mortgage Loans.
CLASS III-B-3 CERTIFICATES: The Certificates designated as "Class
III-B-3" on the face thereof in substantially the form attached hereto as
Exhibit A-34. The Class III-B-3 Certificates, all of which are related to the
Mortgage Loans in Loan Group III, shall be entitled to receive distributions
related solely to such Mortgage Loans.
CLASS III-B-4 CERTIFICATES: The Certificates designated as "Class
III-B-4" on the face thereof in substantially the form attached hereto as
Exhibit A-35. The Class III-B-4 Certificates, all of which are related to the
Mortgage Loans in Loan Group III, shall be entitled to receive distributions
related solely to such Mortgage Loans.
CLASS III-B-5 CERTIFICATES: The Certificates designated as "Class
III-B-5" on the face thereof in substantially the form attached hereto as
Exhibit A-36. The Class III-B-5 Certificates, all of which are related to the
Mortgage Loans in Loan Group III, shall be entitled to receive distributions
related solely to such Mortgage Loans.
CLASS III-B-6 CERTIFICATES: The Certificates designated as "Class
III-B-6" on the face thereof in substantially the form attached hereto as
Exhibit A-37. The Class III-B-6 Certificates, all of which are related to the
Mortgage Loans in Loan Group III, shall be entitled to receive distributions
related solely to such Mortgage Loans.
CLASS III-P CERTIFICATES: The Certificates designated as "Class
III-P" on the face thereof in substantially the form attached hereto as
Exhibit A-15. Except as otherwise described herein, the
26
<PAGE>
Class III-P Certificates, all of which are related to the Class III-P
Mortgage Loans, shall be entitled to receive distributions related solely to
such Class III-P Mortgage Loans.
CLASS III-PT CERTIFICATES: The Certificates designated as "Class
III-PT" on the face thereof in substantially the form attached hereto as
Exhibit A-12. Except as otherwise described herein, the Class III-PT
Certificates, all of which are related to the Mortgage Loans in Loan Group
III, shall be entitled to receive distributions related solely to such Class
III Mortgage Loans.
CLASS III-P FRACTION: For each Class III-P Mortgage Loan, a
fraction, the numerator of which is 6.750% less the Pass-Through Rate on such
Class III-P Mortgage Loan and the denominator of which is 6.750%.
CLASS III-P MORTGAGE LOAN: Any Group III Loan with a Pass-Through
Rate of less than 6.750% per annum.
CLASS III-X CERTIFICATES: The Certificates designated as "Class
III-X" on the face thereof in substantially the form attached hereto as
Exhibit A-19. The Class III-X Certificates, all of which are related to the
Mortgage Loans in Loan Group III, shall be entitled to receive distributions
related solely to such Mortgage Loans.
CLASS III-X NOTIONAL AMOUNT: With respect to any Distribution Date,
the product of (x) the aggregate scheduled principal balance, as of the
second preceding Due Date after giving effect to payments scheduled to be
received as of such Due Date, whether or not received, or with respect to the
initial Distribution Date, as of the Cut-Off Date, of the Group III Premium
Rate Mortgage Loans and (y) a fraction, the numerator of which is the
weighted average of the Stripped Interest Rates for the Group III Premium
Rate Mortgage Loans as of such Due Date and the denominator of which is
6.750%.
CLASS NOTIONAL AMOUNT: With respect to the Class I-X-1 Certificates,
the Class I-X-1 Notional Amount; with respect to the Class I-X-2
Certificates, the Class I-X-2 Notional Amount; with respect to the Class II-X
Certificates, the Class II-X Notional Amount and with respect to the Class
III-X Certificates, the Class III-X Notional Amount, as applicable.
CLASS P CERTIFICATES: The Class I-P, Class II-P and Class III-P
Certificates, collectively.
CLASS PRINCIPAL BALANCE: For any Class of Certificates, other than
the Class II-A-5 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 (including, with respect to the Class II-A-2, Class II-A-3, Class
II-A-4, Class II-A-6 and Class II-A-10 Certificates, the portions of the
Class II-A-4 Accrual Amount, the Class II-A-6 Accrual Amount, the Component
II-A-5-1 Accrual Amount and the Component II-A-5-2 Accrual Amount distributed
to such Class of Certificates) 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, 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
27
<PAGE>
"Certificate Distribution Amount". In addition to the foregoing, on each
Distribution Date on or before the Class II-A-4 Accretion Termination Date,
the Class II-A-4 Principal Balance will be increased by the Class II-A-4
Accrual Amount for such Distribution Date and on each Distribution Date on or
before the Class II-A-6 Accretion Termination Date, the Class II-A-6
Principal Balance will be increased by the Class II-A-6 Accrual Amount for
such Distribution Date. Notwithstanding the foregoing, any amounts
distributed in respect of losses pursuant to paragraphs (I)(a)(v),
(I)(a)(vi), (I)(b)(v), (I)(b)(vi), (I)(c)(v) or (I)(c)(vi) of the definition
of "Certificate Distribution Amount" shall not cause a further reduction in
the Class I-P Principal Balance, the Class II-P Principal Balance or the
Class III-P Principal Balance. The Class Principal Balance for the Class
I-A-1 Certificates shall be referred to as the "Class I-A-1 Principal
Balance", the Class Principal Balance for the Class II-A-1 Certificates shall
be referred to as the "Class II-A-1 Principal Balance" and so on. The Class
II-A-5 Principal Balance shall equal the sum of the Component II-A-5-1
Principal Balance and the Component II-A-5-2 Principal Balance. The Class
I-X-1, Class I-X-2, Class II-X and Class III-X Principal Balances shall be
zero.
CLASS R CERTIFICATES: The Certificates designated as "Class R" on
the face thereof in substantially the form attached hereto as Exhibit B,
which have been designated as the single class of "residual interests" in the
Trust Fund pursuant to Section 2.01.
CLASS X CERTIFICATES: The Class I-X-1, Class I-X-2, Class II-X and
Class III-X Certificates, collectively.
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: November 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.
COLLATERAL REDUCTION TRIGGER DATE: The first Distribution Date on
which (X) the portion of the Available Distribution Amount for Loan Group II
representing payments in respect of principal for such Distribution Date
exceeds (Y) the product of (i) the Percentage Reduction Factor for such
Distribution Date and (ii) the aggregate Scheduled Principal Balance of the
Group II Mortgage Loans as of the preceding Distribution Date (or as of the
Cut-Off Date, in the case of the first Distribution Date).
COMPANY: PNC Mortgage Securities Corp., a Delaware corporation, or
its successor-in-interest.
COMPENSATING INTEREST: For any Distribution Date with respect to
each Loan Group and the PNC Mortgage Loans contained therein, the lesser of
(i) the sum of (a) the aggregate Master Servicing Fee payable to the Company
on such Distribution Date, (b) the aggregate Payoff Earnings and (c) the
aggregate Payoff Interest and (ii) the aggregate Uncollected Interest. For
any Distribution Date with respect to each Loan Group and the IndyMac
Mortgage Loans contained therein, the lesser of (i) two-thirds of the
aggregate Master Serving Fee payable to IndyMac on such Distribution Date and
(ii) the sum of (a) the aggregate Uncollected Interest and (b) the aggregate
Curtailment Shortfall.
28
<PAGE>
COMPONENT: A portion of the Class II-A-5 Certificates representing
parts of the entitlement of such Classes to principal and/or interest as
described in the Preliminary Statement hereto and the remainder of the
Agreement.
COMPONENT II-A-5-1: A portion of the Class II-A-5 Certificates
representing part of the entitlement of such Class to principal and interest
as described in the Preliminary Statement hereto and the remainder of the
Agreement.
COMPONENT II-A-5-1 ACCRETION TERMINATION DATE: The earlier to occur
of (i) the Distribution Date following the Distribution Date on which
Component II-A-5-1 receives any amount of principal, (ii) the Distribution
Date following the Group II Credit Support Depletion Date and (iii) the
Collateral Reduction Trigger Date.
COMPONENT II-A-5-1 ACCRUAL AMOUNT: On any Distribution Date, an
amount equal to the amount allocable to the Class II-A-5-1 Certificates on
such Distribution Date pursuant to the definition of "Interest Distribution
Amount" herein, without regard to the proviso at the end of the first
sentence of such definition. Notwithstanding the foregoing, for any
Distribution Date on or after the Component II-A-5-1 Accretion Termination
Date, the Component II-A-5-1 Accrual Amount shall be zero.
COMPONENT II-A-5-2: A portion of the Class II-A-5 Certificates
representing part of the entitlement of such Class to principal and interest
as described in the Preliminary Statement hereto and the remainder of the
Agreement.
COMPONENT II-A-5-2 ACCRETION TERMINATION DATE: The earlier to occur
of (i) the Distribution Date following the Distribution Date on which
Component II-A-5-2 receives any amount of principal, (ii) the Distribution
Date following the Group II Credit Support Depletion Date and (iii) the
Collateral Reduction Trigger Date.
COMPONENT II-A-5-2 ACCRUAL AMOUNT: On any Distribution Date, an
amount equal to the amount allocable to the Class II-A-5-2 Certificates on
such Distribution Date pursuant to the definition of "Interest Distribution
Amount" herein, without regard to the proviso at the end of the first
sentence of such definition. Notwithstanding the foregoing, for any
Distribution Date on or after the Component II-A-5-2 Accretion Termination
Date, the Component II-A-5-2 Accrual Amount shall be zero.
COMPONENT PRINCIPAL BALANCE: For Component II-A-5-1 and Component
II-A-5-2 of the Class II-A-5 Certificates, the applicable Initial Component
Balance therefor set forth in the Preliminary Statement hereto, corresponding
to the rights of such Component in payments of principal due to be passed
through to the Component from principal payments on the Mortgage Loans, as
reduced from time to time by (x) distributions of principal to the Class
II-A-5 Certificates in respect of such Component (including the portion of
the Component II-A-5-1 Accrual Amount and Component II-A-5-2 Accrual Amount
distributed to such Component) and (y) the portion of Realized Losses
allocated to the Component Principal Balance in respect of such Component
pursuant to the definition of "Realized Loss" with respect to a given
Distribution Date. In addition to the foregoing, on each Distribution Date
prior to the Component II-A-5-1 Accretion Termination Date, the Component
Principal Balance of Component II-A-5-1 will be increased by the Component
II-A-5-1 Accrual Amount for such Distribution Date and on each Distribution
Date
29
<PAGE>
prior to the Component II-A-5-2 Accretion Termination Date, the Component
Principal Balance of Component II-A-5-2 will be increased by the Component
II-A-5-2 Accrual Amount for such Distribution Date. For any Distribution
Date, the reduction of the Component Principal Balance of any Component
pursuant to the definition of "Realized Loss" shall be deemed effective prior
to the determination and distribution of principal on such Component pursuant
to the definition of "Certificate Distribution Amount." The Component
Principal Balance for Component II-A-5-1 shall be referred to as the
"Component II-A-5-1 Balance" and the Component Principal Balance for
Component II-A-5-2 shall be referred to as the "Component II-A-5-2 Balance".
COOPERATIVE: A private, cooperative housing corporation organized
under the laws of, and headquartered in, New York, Washington, California or
Pennsylvania which owns or leases land and all or part of a building or
buildings located in such State, including apartments, spaces used for
commercial purposes and common areas therein and whose board of directors
authorizes, among other things, the sale of Cooperative Stock.
COOPERATIVE APARTMENT: A dwelling unit in a multi-dwelling building
owned or leased by a Cooperative, which unit the Mortgagor has an exclusive
right to occupy pursuant to the terms of a proprietary lease or occupancy
agreement.
COOPERATIVE LEASE: With respect to a Cooperative Loan, the
proprietary lease or occupancy agreement with respect to the Cooperative
Apartment occupied by the Mortgagor and relating to the related Cooperative
Stock, which lease or agreement confers an exclusive right to the holder of
such Cooperative Stock to occupy such apartment.
COOPERATIVE LOANS: Any of the Mortgage Loans made in respect of a
Cooperative Apartment, evidenced by a Mortgage Note and secured by (i) a
Security Agreement, (ii) the related Cooperative Stock Certificate, (iii) an
assignment of the Cooperative Lease, (iv) financing statements and (v) a
stock power (or other similar instrument), and ancillary thereto, a
recognition agreement between the Cooperative and the originator of the
Cooperative Loan, each of which was transferred and assigned to the Trustee
pursuant to Section 2.01 and are from time to time held as part of the Trust
Fund.
COOPERATIVE STOCK: With respect to a Cooperative Loan, the single
outstanding class of stock, partnership interest or other ownership
instrument in the related Cooperative.
COOPERATIVE STOCK CERTIFICATE: With respect to a Cooperative Loan,
the stock certificate or other instrument evidencing the related Cooperative
Stock.
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
1997-8.
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.
30
<PAGE>
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.
CUSTODIAL ACCOUNT FOR P&I: The Custodial Account for Principal and
Interest established and maintained by each Servicer pursuant to its Selling
and Servicing Contract and caused by the related 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 related Master Servicer such that the rights of such Master Servicer, the
Trustee and the Certificateholders 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 related Investment
Account.
CUSTODIAL ACCOUNT FOR RESERVES: The Custodial Account for Reserves
established and maintained by each Servicer pursuant to its Selling and
Servicing Contract and caused by the related 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 related Master Servicer such that the rights of such Master Servicer, the
Trustee and the Certificateholders 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
related Investment Account.
CUSTODIAL AGREEMENT: The agreement, if any, among the related 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 either Master
Servicer or the Company 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
either Master Servicer. 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.
31
<PAGE>
CUT-OFF DATE: November 1, 1997.
DCR: Duff & Phelps Credit Rating Co., provided that at any time it be a
Rating Agency.
DEFINITIVE CERTIFICATES: As defined in Section 5.07.
DEPOSITARY AGREEMENT: The Letter of Representations, dated November 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 December 26, 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.
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. Such institution may be the
Servicer if the applicable Selling and Servicing Contract requires the Servicer
to provide the applicable 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 Fund, if any, the
Investment 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;
32
<PAGE>
(ii) Repurchase agreements 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 one of the two
highest unsecured long term debt ratings of the Rating Agency;
(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, 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 one of the two 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 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 one of the
two 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 as
Eligible Investments; and
(viii) Such other instruments as shall not affect the
Ratings;
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
33
<PAGE>
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 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.
FITCH: Fitch Investors Service, L.P. provided that at any time it be a
Rating Agency.
FNMA: Federal National Mortgage Association, or any successor thereto.
FRAUD COVERAGE: During the period prior to the first anniversary of the
Cut-Off Date, and with respect to a Loan Group, the Fraud Coverage Initial
Amount for such Loan Group reduced by Fraud Losses allocated to the Certificates
in the related Certificate Group; 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 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 allocated to the Certificates in the related
Certificate Group since such anniversary; and during the period on and after the
fifth anniversary of the Cut-Off Date, Fraud Coverage will be zero. On each
anniversary of the Cut-Off Date, Fraud Coverage shall be reduced to the lesser
of (i) with respect to Loan Group I and Loan Group II, on the second, third,
fourth and fifth anniversaries of the Cut-Off Date, 1% of the aggregate
principal balance of the Mortgage Loans in the related Loan Group as of the Due
Date in the preceding month and with respect to Loan Group III, on the first
anniversary of the Cut-Off Date, 1%, and on the second, third and fourth
anniversaries of the Cut-Off Date, 0.50% of the aggregate principal balance of
the Group III Loans as of the Due Date in the preceding month and (ii) the
excess of the Fraud Coverage Initial Amount over cumulative Fraud Losses
allocated to the Certificates in the related Certificate Group to date. Fraud
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 in the related Certificate Group by the Rating Agency.
FRAUD COVERAGE INITIAL AMOUNT: With respect to the Group I
Certificates, $7,800,227, with respect to the Group II Certificates, $6,850,875
and with respect to the Group III Certificates, $1,043,946.
34
<PAGE>
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 a
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.
GROUP I CERTIFICATES: The Class I-A-1, Class I-X-1, Class 1-X-2, Class
I-P and Group I-B Certificates, collectively.
GROUP I CREDIT SUPPORT DEPLETION DATE: The first Distribution Date on
which the aggregate of the Class Principal Balances of the Group I-B
Certificates has been or will be reduced to zero as a result of principal
distributions thereon and the allocation of Realized Losses on such Distribution
Date.
GROUP I LOAN: The Mortgage Loans designated on the Mortgage Loan
Schedule as Group I Loans.
GROUP I PREMIUM RATE MORTGAGE LOANS: The Group I Loans having
Pass-Through Rates in excess of 7.250% per annum.
GROUP I SENIOR CERTIFICATES: The Class I-A-1, Class I-X-1, Class I-X-2
and Class I-P Certificates, collectively.
GROUP I SENIOR LIQUIDATION AMOUNT: The aggregate, for each Group I Loan
which became a Liquidated Mortgage Loan during the Prior Period, of the lesser
of: (i) the Group I Senior Percentage of the Principal Balance of such Mortgage
Loan (exclusive of the Class I-P Fraction thereof, if applicable), and (ii) the
Group I Senior Prepayment Percentage of the Liquidation Principal with respect
to such Mortgage Loan.
GROUP I SENIOR PERCENTAGE: With respect to any Distribution Date, the
Class Principal Class I-A-1 Principal Balance divided by aggregate Class
Principal Balance of the Group I Certificates (reduced by the Class I-P
Principal Balance), in each case immediately prior to such Distribution Date.
GROUP I SENIOR PREPAYMENT PERCENTAGE: (i) On any Distribution Date
occurring before the Distribution Date in the month of the fifth anniversary of
the first Distribution Date, 100%; (ii) on any other Distribution Date on which
the Group I Senior Percentage for such Distribution Date exceeds the initial
Group I Senior Percentage as of the Cut-Off Date, 100%; and (iii) on any other
Distribution Date in each of the months of the fifth anniversary of the first
Distribution Date and thereafter, 100%, unless:
(a) the mean aggregate Principal Balance of Group I Loans which are 60
or more days delinquent (including loans in foreclosure and
property held by the Trust Fund) for each of the immediately
preceding six calendar months is less than or equal to 50% of the
mean aggregate of the Class Principal Balances of the Group I-B
Certificates as of such Distribution Date, and
35
<PAGE>
(b) cumulative Realized Losses on the Group I Loans allocated to the
Group I-B Certificates are less than or equal to (1) for any
Distribution Date before the month of the sixth anniversary of the
month of the first Distribution Date, 30% of the sum of the
Class Principal Balances of the Group I-B Certificates as of the
Cut-Off Date, (2) for any Distribution Date in or after the month
of the sixth anniversary of the month of the first Distribution
Date but before the seventh anniversary of the month of the first
Distribution Date, 35% of the sum of the Class Principal Balances
of the Group I-B Certificates as of the Cut-Off Date, (3) for any
Distribution Date in or after the month of the seventh anniversary
of the month of the first Distribution Date but before the eighth
anniversary of the month of the first Distribution Date, 40% of
the sum of the Class Principal Balances of the Group I-B
Certificates as of the Cut-Off Date, (4) for any Distribution Date
in or after the month of the eighth anniversary of the month of
the first Distribution Date but before the ninth anniversary of
the month of the first Distribution Date, 45% of the sum of the
Class Principal Balances of the Group I-B Certificates as of the
Cut-Off Date, and (5) for any Distribution Date in or after the
month of the ninth anniversary of the month of the first
Distribution Date, 50% of the sum of the Class Principal Balances
of the Group I-B Certificates as of the Cut-Off Date,
in which case, as follows: (1) for any such Distribution Date in or after the
month of the fifth anniversary of the month of the first Distribution Date but
before the sixth anniversary of the month of the first Distribution Date, the
Group I Senior Percentage for such Distribution Date plus 70% of the Subordinate
Percentage for Loan Group I for such Distribution Date; (2) for any such
Distribution Date in or after the month of the sixth anniversary of the month of
the first Distribution Date but before the seventh anniversary of the month of
the first Distribution Date, the Group I Senior Percentage for such Distribution
Date plus 60% of the Subordinate Percentage for Loan Group I for such
Distribution Date; (3) for any such Distribution Date in or after the month of
the seventh anniversary of the month of the first Distribution Date but before
the eighth anniversary of the month of the first Distribution Date, the Group I
Senior Percentage for such Distribution Date plus 40% of the Subordinate
Percentage for Loan Group I for such Distribution Date; (4) for any such
Distribution Date in or after the month of the eighth anniversary of the month
of the first Distribution Date but before the ninth anniversary of the month of
the first Distribution Date, the Group I Senior Percentage for such Distribution
Date plus 20% of the Subordinate Percentage for Loan Group I for such
Distribution Date; and (5) for any such Distribution Date thereafter, the Group
I Senior Percentage for such Distribution Date.
If on any Distribution Date the allocation to the Group I Senior
Certificates (other than the Class I-P Certificates) of Principal Prepayments in
the percentage required would reduce the sum of the Class Principal Balances of
the Group I Senior Certificates (other than the Class I-P Certificates) below
zero, the Group I Senior Prepayment Percentage for such Distribution Date shall
be limited to the percentage necessary to reduce such sum to zero.
Notwithstanding the foregoing, however, on each Distribution Date, the Class I-P
Certificates will receive the Class I-P Fraction of all principal payments,
including, without limitation, Principal Prepayments, received in respect of
each Class I-P Mortgage Loan.
GROUP I SENIOR PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution
Date, an amount equal to the sum of (a) the Group I Senior Percentage of the
Principal Payment Amount for Loan Group I (exclusive of the portion thereof
attributable to principal distributions to the Class I-P Certificates
36
<PAGE>
pursuant to clause (I)(a)(i) of the definition of "Certificate Distribution
Amount"), (b) the Group I Senior Prepayment Percentage of the Principal
Prepayment Amount for Loan Group I (exclusive of the portion thereof
attributable to principal distributions to the Class I-P Certificates
pursuant to clause (I)(a)(i) of the definition of "Certificate Distribution
Amount") and (c) the Group I Senior Liquidation Amount.
GROUP I SUBORDINATE LIQUIDATION AMOUNT: The excess, if any, of the
aggregate of Liquidation Principal for all Group I Loans which became
Liquidated Mortgage Loans during the Prior Period, over the related Group I
Senior Liquidation Amount for such Distribution Date.
GROUP I SUBORDINATE PERCENTAGE: With respect to any Distribution
Date, the excess of 100% over the Group I Senior Percentage for such date.
GROUP I SUBORDINATE PREPAYMENT PERCENTAGE: On any Distribution Date
for Loan Group I, the excess of 100% over the Group I Senior Prepayment
Percentage for such Distribution Date; PROVIDED, HOWEVER, that if the
aggregate of the Class I-A-1 Principal Balance has been reduced to zero, then
the Group I Subordinate Prepayment Percentage shall equal 100%.
GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT: On any
Distribution Date, the excess of (A) the sum of (i) the Subordinate
Percentage for Loan Group I of the Principal Payment Amount for Loan Group I
(exclusive of the portion thereof attributable to principal distributions to
the Class I-P Certificates pursuant to clause (I)(a)(i) of the definition of
"Certificate Distribution Amount"), (ii) the Group I Subordinate Principal
Prepayments Distribution Amount and (iii) the Group I Subordinate Liquidation
Amount over (B) the amounts required to be distributed to the Class I-P
Certificates pursuant to clauses (I)(a)(v) and (I)(a)(vi) of the definition
of "Certificate Distribution Amount" on such Distribution Date. Any
reduction in the Group I Subordinate Principal Distribution Amount pursuant
to clause (B) of this definition shall: (i) first, be subtracted from the
amount calculated pursuant to clause (A)(i) of this definition, (ii) second,
be subtracted from the amount calculated pursuant to clause (A)(iii) of this
definition and (iii) third, be subtracted from the amount calculated pursuant
to clause (A)(ii) of this definition. On any Distribution Date, the Group I
Subordinate Principal Distribution Amount shall be allocated pro rata, by
Class Principal Balance, among the Classes of Group I-B Certificates and paid
in the order of distribution to such Classes pursuant to clause (I)(a) of the
definition of "Certificate Distribution Amount" herein, except as otherwise
stated in such definition. Notwithstanding the foregoing, on any Distribution
Date prior to distributions on such date, if the Subordination Level for any
Class of Group I-B Certificates is less than such percentage as of the
Cut-Off Date, the pro rata portion of the Group I Subordinate Principal
Prepayments Distribution Amount otherwise allocable to the Class or Classes
junior to such Class will be distributed to the most senior Class of the
Group I-B Certificates for which the Subordination Level is less than such
percentage as of the Cut-Off Date, and to the Classes of Group I-B
Certificates senior thereto, pro rata according to the Class Principal
Balances of such Classes. For purposes of this definition and the definition
of "Subordination Level," the relative seniority, from highest to lowest, of
the Classes of Group I-B Certificates shall be as follows: Class I-B-1, Class
I-B-2, Class I-B-3, Class I-B-4, Class I-B-5 and Class I-B-6.
GROUP I SUBORDINATE PRINCIPAL PREPAYMENTS DISTRIBUTION AMOUNT: On
any Distribution Date, the Group I Subordinate Prepayment Percentage of the
Principal Prepayment Amount for Loan
37
<PAGE>
Group I (exclusive of the portion thereof attributable to principal
distributions to the Class I-P Certificates pursuant to clause (I)(a)(i) of
the definition of "Certificate Distribution Amount").
GROUP I-B CERTIFICATES: The Class I-B-1, Class I-B-2, Class I-B-3,
Class I-B-4, Class I-B-5 and Class I-B-6 Certificates, collectively.
GROUP II CERTIFICATES: The Group II Senior Certificates and Group
I-B Certificates, collectively.
GROUP II CREDIT SUPPORT DEPLETION DATE: The first Distribution Date
on which the aggregate of the Class Principal Balances of the Group II-B
Certificates has been or will be reduced to zero as a result of principal
distributions thereon and the allocation of Realized Losses on such
Distribution Date.
GROUP II LOAN: The Mortgage Loans designated on the Mortgage Loan
Schedule as Group II Loans.
GROUP II PREMIUM RATE MORTGAGE LOANS: The Group II Loans having
Pass-Through Rates in excess of 7.000% per annum.
GROUP II SENIOR CERTIFICATES: The Group II-A, Class II-X, Class II-P
and Class R Certificates, collectively.
GROUP II SENIOR LIQUIDATION AMOUNT: The aggregate, for each Group II
Loan which became a Liquidated Mortgage Loan during the Prior Period, of the
lesser of: (i) the Group II Senior Percentage of the Principal Balance of
such Mortgage Loan (exclusive of the Class II-P Fraction thereof, if
applicable), and (ii) the Group II Senior Prepayment Percentage of the
Liquidation Principal with respect to such Mortgage Loan.
GROUP II SENIOR PERCENTAGE: With respect to any Distribution Date,
the sum of the Class Principal Balances of the Group II-A Certificates
divided by aggregate Class Principal Balance of the Group II Certificates
(reduced by the Class II-P Principal Balance), in each case immediately prior
to such Distribution Date.
GROUP II SENIOR PREPAYMENT PERCENTAGE: (i) On any Distribution Date
occurring before the Distribution Date in the month of the fifth anniversary
of the first Distribution Date, 100%; (ii) on any other Distribution Date on
which the Group II Senior Percentage for such Distribution Date exceeds the
initial Group II Senior Percentage as of the Cut-Off Date, 100%; and (iii) on
any other Distribution Date in each of the months of the fifth anniversary of
the first Distribution Date and thereafter, 100%, unless:
(a) the mean aggregate Principal Balance of Group II Loans which
are 60 or more days delinquent (including loans in foreclosure
and property held by the Trust Fund) for each of the
immediately preceding six calendar months is less than or equal
to 50% of the mean aggregate of the Class Principal Balances of
the Group II-B Certificates as of such Distribution Date, and
38
<PAGE>
(b) cumulative Realized Losses on the Group II Loans allocated to
the Group II-B Certificates are less than or equal to (1) for
any Distribution Date before the month of the sixth anniversary
of the month of the first Distribution Date, 30% of the sum of
the Class Principal Balances of the Group II-B Certificates as
of the Cut-Off Date, (2) for any Distribution Date in or after
the month of the sixth anniversary of the month of the first
Distribution Date but before the seventh anniversary of the
month of the first Distribution Date, 35% of the sum of the
Class Principal Balances of the Group II-B Certificates as of
the Cut-Off Date, (3) for any Distribution Date in or after the
month of the seventh anniversary of the month of the first
Distribution Date but before the eighth anniversary of the
month of the first Distribution Date, 40% of the sum of the
Class Principal Balances of the Group II-B Certificates as of
the Cut-Off Date, (4) for any Distribution Date in or after the
month of the eighth anniversary of the month of the first
Distribution Date but before the ninth anniversary of the month
of the first Distribution Date, 45% of the sum of the Class
Principal Balances of the Group II-B Certificates as of the
Cut-Off Date, and (5) for any Distribution Date in or after the
month of the ninth anniversary of the month of the first
Distribution Date, 50% of the sum of the Class Principal
Balances of the Group II-B Certificates as of the Cut-Off Date,
in which case, as follows: (1) for any such Distribution Date in or after the
month of the fifth anniversary of the month of the first Distribution Date
but before the sixth anniversary of the month of the first Distribution Date,
the Group II Senior Percentage for such Distribution Date plus 70% of the
Subordinate Percentage for Loan Group II for such Distribution Date; (2) for
any such Distribution Date in or after the month of the sixth anniversary of
the month of the first Distribution Date but before the seventh anniversary
of the month of the first Distribution Date, the Group II Senior Percentage
for such Distribution Date plus 60% of the Subordinate Percentage for Loan
Group II for such Distribution Date; (3) for any such Distribution Date in or
after the month of the seventh anniversary of the month of the first
Distribution Date but before the eighth anniversary of the month of the first
Distribution Date, the Group II Senior Percentage for such Distribution Date
plus 40% of the Subordinate Percentage for Loan Group II for such
Distribution Date; (4) for any such Distribution Date in or after the month
of the eighth anniversary of the month of the first Distribution Date but
before the ninth anniversary of the month of the first Distribution Date, the
Group II Senior Percentage for such Distribution Date plus 20% of the
Subordinate Percentage for Loan Group II for such Distribution Date; and (5)
for any such Distribution Date thereafter, the Group II Senior Percentage for
such Distribution Date.
If on any Distribution Date the allocation to the Group II Senior
Certificates (other than the Class II-P Certificates) of Principal
Prepayments in the percentage required would reduce the sum of the Class
Principal Balances of the Group II Senior Certificates (other than the Class
II-P Certificates) below zero, the Group II Senior Prepayment Percentage for
such Distribution Date shall be limited to the percentage necessary to reduce
such sum to zero. Notwithstanding the foregoing, however, on each
Distribution Date, the Class II-P Certificates will receive the Class II-P
Fraction of all principal payments, including, without limitation, Principal
Prepayments, received in respect of each Class II-P Mortgage Loan.
GROUP II SENIOR PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution
Date, an amount equal to the sum of (a) the Group II Senior Percentage of the
Principal Payment Amount for Loan Group II (exclusive of the portion thereof
attributable to principal distributions to the Class II-P
39
<PAGE>
Certificates pursuant to clause (I)(b)(i) of the definition of "Certificate
Distribution Amount"), (b) the Group II Senior Prepayment Percentage of the
Principal Prepayment Amount for Loan Group II (exclusive of the portion
thereof attributable to principal distributions to the Class II-P
Certificates pursuant to clause (I)(b)(i) of the definition of "Certificate
Distribution Amount") and (c) the Group II Senior Liquidation Amount.
GROUP II SUBORDINATE LIQUIDATION AMOUNT: The excess, if any, of the
aggregate of Liquidation Principal for all Group II Loans which became
Liquidated Mortgage Loans during the Prior Period, over the related Group II
Senior Liquidation Amount for such Distribution Date.
GROUP II SUBORDINATE PERCENTAGE: With respect to any Distribution
Date, the excess of 100% over the Group II Senior Percentage for such date.
GROUP II SUBORDINATE PREPAYMENT PERCENTAGE: On any Distribution Date
for Loan Group II, the excess of 100% over the Group II Senior Prepayment
Percentage for such Distribution Date; PROVIDED, HOWEVER, that if the
aggregate of the Class Principal Balances of the Group II-A Certificates and
the Class R Certificates have been reduced to zero, then the Group II
Subordinate Prepayment Percentage shall equal 100%.
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT: On any
Distribution Date, the excess of (A) the sum of (i) the Subordinate
Percentage for Loan Group II of the Principal Payment Amount for Loan Group
II (exclusive of the portion thereof attributable to principal distributions
to the Class II-P Certificates pursuant to clause (I)(b)(i) of the definition
of "Certificate Distribution Amount"), (ii) the Group II Subordinate
Principal Prepayments Distribution Amount and (iii) the Group II Subordinate
Liquidation Amount over (B) the amounts required to be distributed to the
Class II-P Certificates pursuant to clauses (I)(b)(v) and (I)(b)(vi) of the
definition of "Certificate Distribution Amount" on such Distribution Date.
Any reduction in the Group II Subordinate Principal Distribution Amount
pursuant to clause (B) of this definition shall: (i) first, be subtracted
from the amount calculated pursuant to clause (A)(i) of this definition, (ii)
second, be subtracted from the amount calculated pursuant to clause (A)(iii)
of this definition and (iii) third, be subtracted from the amount calculated
pursuant to clause (A)(ii) of this definition. On any Distribution Date, the
Group II Subordinate Principal Distribution Amount shall be allocated pro
rata, by Class Principal Balance, among the Classes of Group II-B
Certificates and paid in the order of distribution to such Classes pursuant
to clause (I) of the definition of "Certificate Distribution Amount" herein,
except as otherwise stated in such definition. Notwithstanding the foregoing,
on any Distribution Date prior to distributions on such date, if the
Subordination Level for any Class of Group II-B Certificates is less than
such percentage as of the Cut-Off Date, the pro rata portion of the Group II
Subordinate Principal Prepayments Distribution Amount otherwise allocable to
the Class or Classes junior to such Class will be distributed to the most
senior Class of the Group II-B Certificates for which the Subordination Level
is less than such percentage as of the Cut-Off Date, and to the Classes of
Group II-B Certificates senior thereto, pro rata according to the Class
Principal Balances of such Classes. For purposes of this definition and the
definition of "Subordination Level," the relative seniority, from highest to
lowest, of the Classes of Group II-B Certificates shall be as follows: Class
II-B-1, Class II-B-2, Class II-B-3, Class II-B-4, Class II-B-5 and Class
II-B-6.
GROUP II SUBORDINATE PRINCIPAL PREPAYMENTS DISTRIBUTION AMOUNT: On
any Distribution Date, the Group II Subordinate Prepayment Percentage of the
Principal Prepayment Amount for Loan
40
<PAGE>
Group II (exclusive of the portion thereof attributable to principal
distributions to the Class II-P Certificates pursuant to clause (I)(b)(i) of
the definition of "Certificate Distribution Amount").
GROUP II-A CERTIFICATES: The Class II-A-1, Class II-A-2, Class
II-A-3, Class II-A-4, Class II-A-5, Class II-A-6, Class II-A-7, Class II-A-8,
Class II-A-9 and Class II-A-10 Certificates, collectively.
GROUP II-B CERTIFICATES: The Class II-B-1, Class II-B-2, Class
II-B-3, Class II-B-4, Class II-B-5 and Class II-B-6 Certificates,
collectively.
GROUP III CERTIFICATES: The Class III-PT, Class III-X, Class III-P
and Group III-B Certificates, collectively.
GROUP III CREDIT SUPPORT DEPLETION DATE: The first Distribution Date
on which the aggregate of the Class Principal Balances of the Group III-B
Certificates has been or will be reduced to zero as a result of principal
distributions thereon and the allocation of Realized Losses on such
Distribution Date.
GROUP III LOAN: The Mortgage Loans designated on the Mortgage Loan
Schedule as Group III Loans.
GROUP III PREMIUM RATE MORTGAGE LOANS: The Group III Loans having
Pass-Through Rates in excess of 6.750% per annum.
GROUP III SENIOR CERTIFICATES: The Class III-PT, Class III-X and
Class III-P Certificates, collectively.
GROUP III SENIOR LIQUIDATION AMOUNT: The aggregate, for each Group
III Loan which became a Liquidated Mortgage Loan during the Prior Period, of
the lesser of: (i) the Group III Senior Percentage of the Principal Balance
of such Mortgage Loan (exclusive of the Class III-P Fraction thereof, if
applicable), and (ii) the Group III Senior Prepayment Percentage of the
Liquidation Principal with respect to such Mortgage Loan.
GROUP III SENIOR PERCENTAGE: With respect to any Distribution Date,
the Class III-PT Principal Balance divided by aggregate Class Principal
Balance of the Group III Certificates (reduced by the Class III-P Principal
Balance), in each case immediately prior to such Distribution Date.
GROUP III SENIOR PREPAYMENT PERCENTAGE: (i) On any Distribution Date
occurring before the Distribution Date in the month of the fifth anniversary
of the first Distribution Date, 100%; (ii) on any other Distribution Date on
which the Group III Senior Percentage for such Distribution Date exceeds the
initial Group III Senior Percentage as of the Cut-Off Date, 100%; and (iii)
on any other Distribution Date in each of the months of the fifth anniversary
of the first Distribution Date and thereafter, 100%, unless:
(a) the mean aggregate Principal Balance of Group III Loans which
are 60 or more days delinquent (including loans in foreclosure
and property held by the Trust Fund) for each of the
immediately preceding six calendar months is less than or equal
to 50% of the
41
<PAGE>
mean aggregate of the Class Principal Balances of the Group
III-B Certificates as of such Distribution Date, and
(b) cumulative Realized Losses on the Group III Loans allocated to
the Group III-B Certificates are less than or equal to (1) for
any Distribution Date before the month of the sixth anniversary
of the month of the first Distribution Date, 30% of the sum of
the Class Principal Balances of the Group III-B Certificates as
of the Cut-Off Date, (2) for any Distribution Date in or after
the month of the sixth anniversary of the month of the first
Distribution Date but before the seventh anniversary of the
month of the first Distribution Date, 35% of the sum of the
Class Principal Balances of the Group III-B Certificates as of
the Cut-Off Date, (3) for any Distribution Date in or after the
month of the seventh anniversary of the month of the first
Distribution Date but before the eighth anniversary of the
month of the first Distribution Date, 40% of the sum of the
Class Principal Balances of the Group III-B Certificates as of
the Cut-Off Date, (4) for any Distribution Date in or after the
month of the eighth anniversary of the month of the first
Distribution Date but before the ninth anniversary of the month
of the first Distribution Date, 45% of the sum of the Class
Principal Balances of the Group III-B Certificates as of the
Cut-Off Date, and (5) for any Distribution Date in or after the
month of the ninth anniversary of the month of the first
Distribution Date, 50% of the sum of the Class Principal
Balances of the Group III-B Certificates as of the Cut-Off Date,
in which case, as follows: (1) for any such Distribution Date in or after the
month of the fifth anniversary of the month of the first Distribution Date
but before the sixth anniversary of the month of the first Distribution Date,
the Group III Senior Percentage for such Distribution Date plus 70% of the
Subordinate Percentage for Loan Group III for such Distribution Date; (2) for
any such Distribution Date in or after the month of the sixth anniversary of
the month of the first Distribution Date but before the seventh anniversary
of the month of the first Distribution Date, the Group III Senior Percentage
for such Distribution Date plus 60% of the Subordinate Percentage for Loan
Group III for such Distribution Date; (3) for any such Distribution Date in
or after the month of the seventh anniversary of the month of the first
Distribution Date but before the eighth anniversary of the month of the first
Distribution Date, the Group III Senior Percentage for such Distribution Date
plus 40% of the Subordinate Percentage for Loan Group III for such
Distribution Date; (4) for any such Distribution Date in or after the month
of the eighth anniversary of the month of the first Distribution Date but
before the ninth anniversary of the month of the first Distribution Date, the
Group III Senior Percentage for such Distribution Date plus 20% of the
Subordinate Percentage for Loan Group III for such Distribution Date; and (5)
for any such Distribution Date thereafter, the Group III Senior Percentage
for such Distribution Date.
If on any Distribution Date the allocation to the Group III Senior
Certificates (other than the Class III-P Certificates) of Principal
Prepayments in the percentage required would reduce the sum of the Class
Principal Balances of the Group III Senior Certificates (other than the Class
III-P Certificates) below zero, the Group III Senior Prepayment Percentage
for such Distribution Date shall be limited to the percentage necessary to
reduce such sum to zero. Notwithstanding the foregoing, however, on each
Distribution Date, the Class III-P Certificates will receive the Class III-P
Fraction of all principal payments, including, without limitation, Principal
Prepayments, received in respect of each Class III-P Mortgage Loan.
42
<PAGE>
GROUP III SENIOR PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution
Date, an amount equal to the sum of (a) the Group III Senior Percentage of
the Principal Payment Amount for Loan Group III (exclusive of the portion
thereof attributable to principal distributions to the Class III-P
Certificates pursuant to clause (I)(c)(i) of the definition of "Certificate
Distribution Amount"), (b) the Group III Senior Prepayment Percentage of the
Principal Prepayment Amount for Loan Group III (exclusive of the portion
thereof attributable to principal distributions to the Class III-P
Certificates pursuant to clause (I)(c)(i) of the definition of "Certificate
Distribution Amount") and (c) the Group III Senior Liquidation Amount.
GROUP III SUBORDINATE LIQUIDATION AMOUNT: The excess, if any, of the
aggregate of Liquidation Principal for all Group III Loans which became
Liquidated Mortgage Loans during the Prior Period, over the related Group III
Senior Liquidation Amount for such Distribution Date.
GROUP III SUBORDINATE PERCENTAGE: With respect to any Distribution
Date, the excess of 100% over the Group III Senior Percentage for such date.
GROUP III SUBORDINATE PREPAYMENT PERCENTAGE: On any Distribution
Date for Loan Group III, the excess of 100% over the Group III Senior
Prepayment Percentage for such Distribution Date; PROVIDED, HOWEVER, that if
the aggregate of the Class III-PT Principal Balance has been reduced to zero,
then the Group III Subordinate Prepayment Percentage shall equal 100%.
GROUP III SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT: On any
Distribution Date, the excess of (A) the sum of (i) the Subordinate
Percentage for Loan Group III of the Principal Payment Amount for Loan Group
III (exclusive of the portion thereof attributable to principal distributions
to the Class III-P Certificates pursuant to clause (I)(c)(i) of the
definition of "Certificate Distribution Amount"), (ii) the Group III
Subordinate Principal Prepayments Distribution Amount and (iii) the Group III
Subordinate Liquidation Amount over (B) the amounts required to be
distributed to the Class III-P Certificates pursuant to clauses (I)(c)(v) and
(I)(c)(vi) of the definition of "Certificate Distribution Amount" on such
Distribution Date. Any reduction in the Group III Subordinate Principal
Distribution Amount pursuant to clause (B) of this definition shall: (i)
first, be subtracted from the amount calculated pursuant to clause (A)(i) of
this definition, (ii) second, be subtracted from the amount calculated
pursuant to clause (A)(iii) of this definition and (iii) third, be subtracted
from the amount calculated pursuant to clause (A)(ii) of this definition.
On any Distribution Date, the Group III Subordinate Principal Distribution
Amount shall be allocated pro rata, by Class Principal Balance, among the
Classes of Group III-B Certificates and paid in the order of distribution to
such Classes pursuant to clause (I) of the definition of "Certificate
Distribution Amount" herein, except as otherwise stated in such definition.
Notwithstanding the foregoing, on any Distribution Date prior to
distributions on such date, if the Subordination Level for any Class of Group
III-B Certificates is less than such percentage as of the Cut-Off Date, the
pro rata portion of the Group III Subordinate Principal Prepayments
Distribution Amount otherwise allocable to the Class or Classes junior to
such Class will be distributed to the most senior Class of the Group III-B
Certificates for which the Subordination Level is less than such percentage
as of the Cut-Off Date, and to the Classes of Group III-B Certificates senior
thereto, pro rata according to the Class Principal Balances of such Classes.
For purposes of this definition and the definition of "Subordination Level,"
the relative seniority, from highest to lowest, of the Classes of Group III-B
Certificates shall be as follows: Class III-B-1, Class III-B-2, Class
III-B-3, Class III-B-4, Class III-B-5 and Class III-B-6.
43
<PAGE>
GROUP III SUBORDINATE PRINCIPAL PREPAYMENTS DISTRIBUTION AMOUNT: On
any Distribution Date, the Group III Subordinate Prepayment Percentage of the
Principal Prepayment Amount for Loan Group III (exclusive of the portion
thereof attributable to principal distributions to the Class III-P
Certificates pursuant to clause (I)(c)(i) of the definition of "Certificate
Distribution Amount").
GROUP III-B CERTIFICATES: The Class III-B-1, Class III-B-2, Class
III-B-3, Class III-B-4, Class III-B-5 and Class III-B-6 Certificates,
collectively.
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.
INDYMAC MORTGAGE LOAN: A Mortgage Loan listed on the Mortgage Loan
Schedule as being master serviced by IndyMac.
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), 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.
INTEREST DISTRIBUTION AMOUNT: On any Distribution Date, for any
Class of Certificates (other than the Class II-A-5 Certificates) or
Component, the amount of interest accrued on the respective Class Principal
Balance, Component Principal Balance or Class Notional Amount, as applicable,
at 1/12th of the related Remittance Rate for such Class or Component during
the Prior Period, before giving effect to allocations of Realized Losses for
the Prior Period or distributions to be made on such Distribution Date,
reduced by Uncompensated Interest Shortfall and the interest portion of
Realized Losses allocated to such Class or Component pursuant to the
definitions of "Uncompensated Interest Shortfall" and "Realized Loss,"
respectively; PROVIDED, HOWEVER, that (a) in the case of the II-A-4
Certificates, such amount shall be reduced by the Class II-A-4 Accrual
Amount, (b) in the case of the II-A-6 Certificates, such amount shall be
reduced by the Class II-A-6 Accrual Amount, (c) in the case of Component
II-A-5-1, such amount shall be reduced by the Component II-A-5-1 Accrual
Amount and (d) in the case of Component II-A-5-2, such amount shall be
reduced by the Component II-A-5-2 Accrual Amount. The Interest Distribution
Amount for the Class P Certificates on any Distribution Date shall equal zero.
INVESTMENT ACCOUNT: A commingled account (which shall be commingled
only with investment accounts related to series of pass-through certificates
with a class of certificates which has a rating equal to the highest of the
Ratings of the Certificates) maintained by a 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.
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.
JUNIOR SUBORDINATE CERTIFICATES: The Class I-B-4, Class I-B-5, Class
I-B-6, Class II-B-4, Class II-B-5, Class II-B-6, Class III-B-4, Class III-B-5
and Class III-B-6 Certificates, collectively.
44
<PAGE>
LENDER: An institution from which the Company purchased any Mortgage
Loans pursuant to a Selling and Servicing Contract.
LIBOR: With respect to each Distribution Date, the London Interbank
Offered Rate for one-month United States dollar-denominated deposits
determined by the Certificate Administrator on the basis of quotations as of
approximately 11:00 a.m. (London time) appearing on the Telerate Page 3750
(as defined in the International Swap Dealers Association Inc. Code of 1987
Interest Rate and Currency Exchange Definitions) of the Reference Banks, as
follows:
(a) in the event that fewer than two Reference Banks provide such
quotations, the higher of
(i) LIBOR as determined on the immediately preceding LIBOR
Determination Date (or, in the case of the first LIBOR
Determination Date, 5.6875%) and
(ii) the Reserve Rate. The "Reserve Rate" will be the rate per
annum (rounded upward, if necessary, to the nearest multiple of
1/16th of 1%) that the Certificate Administrator determines to be
either
(x) the arithmetic mean of the offered quotations that the
leading banks in New York City selected by the Certificate
Administrator in its sole discretion are then quoting on the
relevant LIBOR Determination Date for one-month United States
dollar deposits to the principal London office of each of the
Reference Banks or those of them (being at least two in number)
to which such offered quotations are, in the opinion of the
Certificate Administrator, being so made, or
(y) in the event that the Certificate Administrator can
determine no such arithmetic mean, the arithmetic mean of the
offered quotations that the leading banks in New York City
selected by the Certificate Administrator in its sole discretion
are quoting on such LIBOR Determination Date to leading European
banks for one-month United States dollar deposits, provided,
however, that if the banks selected by the Certificate
Administrator are not then so quoting, LIBOR shall be as
determined on the immediately preceding LIBOR Determination Date
(or, in the case of the first LIBOR Determination Date, 5.6875%,
as specified above);
(b) otherwise, the arithmetic mean (rounded upward, if necessary,
to the nearest multiple of 1/16th of 1%) of the offered quotations of the
Reference Banks on the applicable LIBOR Determination Date
the establishment of which, in each case, shall be final and binding upon the
Certificateholders in the absence of manifest error.
LIBOR DETERMINATION DATE: With respect to interest paid on any
Distribution Date, other than the first Distribution Date, the second day on
which banks in London and New York City are
45
<PAGE>
open for the transaction of international business prior to the 25th day of
the month preceding the Distribution Date.
LIQUIDATED MORTGAGE LOAN: A Mortgage Loan as to which the applicable
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 (exclusive of the portion thereof attributable to principal
distributions to the Class P Certificates pursuant to clauses (I)(c)(i),
(I)(b)(i) and (I)(c)(i) of the definition of "Certificate Distribution
Amount" herein) 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, Loan Group II or Loan Group III, 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 GROUP III: The group of Mortgage Loans comprised of the Group III
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.
LOCKOUT LIQUIDATION AMOUNT: The aggregate, for each Group II Loan which
became a Liquidated Mortgage Loan during the Prior Period, of the lesser of
(i) the Lockout Percentage of the Principal Balance of such Mortgage Loan
(exclusive of the Class II-P Fraction thereof, if applicable) and (ii) the
Lockout Percentage on any Distribution Date occurring prior to the fifth
anniversary of the first Distribution Date, and the Lockout Prepayment
Percentage on any Distribution Date thereafter, in each case, of the
Liquidation Principal with respect to such Mortgage Loan.
LOCKOUT PERCENTAGE: For any Distribution Date, (x) the sum of the Class
II-A-8 Principal Balance and the Class II-A-9 Principal Balance divided by
(y) the sum of the Class Principal Balances of the Group II Certificates
(reduced by the Class II-P Principal Balance), in each case, immediately
prior to such Distribution Date.
LOCKOUT PREPAYMENT PERCENTAGE: For any Distribution Date, the product of
(a) the Lockout Percentage for such Distribution Date and (b) the applicable
Step Down Percentage.
46
<PAGE>
LOCKOUT PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution Date, an
amount equal to the sum of (i) the Adjusted Lockout Percentage of the
Principal Payment Amount for Loan Group II (exclusive of the portion thereof
attributable to principal distributions to the Class II-P Certificates
pursuant to clause (I)(b)(i) of the definition of "Certificate Distribution
Amount" herein), (ii) the Lockout Prepayment Percentage of the Principal
Prepayment Amount for Loan Group II (exclusive of the portion thereof
attributable to principal distributions to the Class II-P Certificates
pursuant to clause (I)(b)(i) of the definition of "Certificate Distribution
Amount" herein), and (iii) the Lockout Liquidation Amount.
MASTER SERVICER: With respect to the PNC Mortgage Loans, the Company, or
any successor thereto appointed as provided pursuant to Section 7.02, acting
to service and administer such Mortgage Loans pursuant to Section 3.01; with
respect to the IndyMac Mortgage Loans, IndyMac, Inc., a Delaware corporation,
or any successor thereto appointed as provided pursuant to Section 7.02,
acting to service and administer such Mortgage Loans pursuant to Section 3.01.
MASTER SERVICER'S SECTION 3.12 REPORT: A report delivered by each Master
Servicer to the Certificate Administrator pursuant to Section 3.12.
MASTER SERVICER'S SECTION 4.02 REPORT: A report delivered by each Master
Servicer to the Certificate Administrator pursuant to Section 4.02.
MASTER SERVICING FEE: The fee charged by the applicable Master Servicer
for supervising the mortgage servicing and advancing certain expenses, equal
to a per annum rate set forth for each related Mortgage Loan in Exhibit D on
the outstanding Principal Balance of such Mortgage Loan, payable monthly from
the related Investment Account.
MONTHLY P&I ADVANCE: An advance of funds by a Master Servicer pursuant
to Section 4.03 or a Servicer pursuant to its Selling and 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.
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, (X)
with respect to each Mortgage Loan that is not a Cooperative Loan:
(i) The original Mortgage Note endorsed to "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 Securities Corp. Mortgage Pass-Through Certificates,
Series 1997-8, 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
47
<PAGE>
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 "U.S. Bank National Association, as Custodian/Trustee" or
to "U.S. Bank National Association, as Trustee for the Holders of
PNC Mortgage Securities Corp. Mortgage Pass-Through Certificates,
Series 1997-8" and all intervening assignments evidencing a
complete chain of assignment, from the originator to the name
holder or the payee endorsing the related Mortgage Note; or
(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 "U.S. Bank National Association, as
Custodian/Trustee" or to "U.S. Bank National Association, as
Trustee for the Holders of PNC Mortgage Securities Corp. Mortgage
Pass-Through Certificates, Series 1997-8" and all intervening
assignments 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
(v) For any Mortgage Loan that has been modified or amended, the
original instrument or instruments effecting such modification or
amendment.
and (Y) with respect to each Cooperative Loan:
(i) the original Mortgage Note endorsed to "U.S. Bank National
Association, as Custodian/Trustee" or to "U.S. Bank National
Association, as
48
<PAGE>
Trustee for the Holders of PNC Mortgage Securities Corp. Mortgage
Pass-Through Certificates, Series 1997-8" 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;
(ii) A counterpart of the Cooperative Lease and the Assignment of
Proprietary Lease to the originator of the Cooperative Loan with
intervening assignments showing an unbroken chain of title from such
originator to the Trustee;
(iii) The related Cooperative Stock Certificate, representing the
related Cooperative Stock pledged with respect to such Cooperative Loan,
together with an undated stock power (or other similar instrument)
executed in blank;
(iv) The original recognition agreement by the Cooperative of the
interests of the mortgagee with respect to the related Cooperative Loan;
(v) The Security Agreement;
(vi) Copies of the original UCC-1 financing statement, and any
continuation statements, filed by the originator of such Cooperative
Loan as secured party, each with evidence of recording thereof,
evidencing the interest of the originator under the Security Agreement
and the Assignment of Proprietary Lease;
(vii) Copies of the filed UCC-3 assignments of the security
interest referenced in clause (vi) above showing an unbroken chain of
title from the originator to the Trustee, each with evidence of
recording thereof, evidencing the interest of the originator under the
Security Agreement and the Assignment of Proprietary Lease;
(viii) An executed assignment of the interest of the originator in
the Security Agreement, Assignment of Proprietary Lease and the
recognition agreement referenced in clause (iv) above, showing an
unbroken chain of title from the originator to the Trustee;
(ix) An executed UCC-1 financing statement showing the Company as
debtor and the Trustee as secured party, each in a form sufficient for
filing, evidencing the interest of such debtors in the Cooperative
Loans; and
(x) For any Cooperative 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:
49
<PAGE>
(i) its loan number,
(ii) the address of the Mortgaged Property,
(iii) the name of the Mortgagor,
(iv) the Original Value of the property subject to the Mortgage,
(v) the Principal Balance as of the Cut-Off Date,
(vi) the Mortgage Interest Rate borne by the Mortgage Note,
(vii) whether a Primary Insurance Policy is in effect as of the
Cut-Off Date,
(viii) the maturity of the Mortgage Note,
(ix) the Servicing Fee, Master Servicing Fee and the Certificate
Administrator Fee,
(x) its Loan Group, and
(xi) whether it is a PNC Mortgage Loan or an IndyMac Mortgage
Loan.
MORTGAGE LOANS: With respect to each Cooperative Loan, the related
Mortgage Note, Security Agreement, Assignment of Proprietary Lease,
Cooperative Stock Certificate and Cooperative Lease, and, with respect to
each Mortgage Loan other than a Cooperative 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, other than a
Cooperative Loan, the real property, together with improvements thereto, and,
with respect to any Cooperative Loan, the related Cooperative Stock and
Cooperative Lease, securing the indebtedness of the Mortgagor under the
related Mortgage Loan.
MORTGAGOR: The obligor on a Mortgage Note.
NONRECOVERABLE ADVANCE: With respect to any Mortgage Loan, any advance
which the related 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) such Master Servicer or (ii) a Servicer pursuant to its Selling and
Servicing Contract.
NON-U.S. PERSON: A Person that is not a U.S. Person.
50
<PAGE>
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 a Master Servicer
and delivered to the Trustee.
OPINION OF COUNSEL: A written opinion of counsel, who shall be
reasonably acceptable to the Trustee and who may be counsel for the Company
or either Master Servicer.
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 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.
OWNERSHIP INTEREST: As defined in Section 5.01(b).
PASS-THROUGH ENTITY: As defined in Section 5.01(b).
PASS-THROUGH RATE: For each Mortgage Loan, a rate equal to the Mortgage
Interest Rate for such Mortgage Loan less the applicable per annum percentage
rates related to each of the Servicing Fee, Master Servicing Fee and
Certificate Administrator Fee. For each Mortgage Loan, any calculation of
monthly interest at such rate shall be based upon annual interest at such
rate (computed on the basis of a 360-day year of twelve 30-day months) on the
unpaid Principal Balance of the related Mortgage Loan divided by twelve, and
any calculation of interest at such rate by reason of a Payoff shall be based
upon annual interest at such rate on the outstanding Principal Balance of the
related Mortgage Loan multiplied by a fraction, the numerator of which is the
number of days elapsed from the Due Date of the last scheduled payment of
principal and interest to, but not including, the date of such Payoff, and
the denominator of which is (a) for Payoffs received on a Due Date, 360, and
(b) for all other Payoffs, 365.
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 PNC
Mortgage Loan on which a Payoff was received by the related Master Servicer
during the Payoff Period, the aggregate of the interest earned by such 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).
51
<PAGE>
PAYOFF INTEREST: For any Distribution Date with respect to a PNC Mortgage
Loan for which a Payoff was received on or 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 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 Fee)
not required to be distributed as Compensating Interest on such Distribution
Date, Payoff Interest shall be payable to the Master Servicer of such Mortgage
Loans as additional servicing compensation.
PAYOFF PERIOD: With respect to the first Distribution Date, the period from
the Cut-Off Date through November 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: (a) 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:
(i) with respect to any Regular Interest Certificate (other than the
Class I-X-1, Class I-X-2, Class II-X and Class III-X Certificates), its
Certificate Principal Balance divided by the applicable Class Principal
Balance;
(ii) with respect to the Class I-X-1, Class I-X-2, Class II-X and
Class III-X Certificates, the portion of the respective Class Notional
Amount evidenced by such Certificate divided by the respective Class
Notional Amount; and
(iii) with respect to the Class R Certificates, the percentage set
forth on the face of such Certificate.
(b) With respect to the rights of each Certificate in connection with
Sections 5.09, 7.01, 8.01(c), 8.02, 8.07, 10.01 and 10.03, "Percentage Interest"
shall mean the percentage undivided beneficial interest evidenced by such
Certificate in the Trust Fund, which for purposes of such rights only shall
equal:
(i) with respect to any Certificate (other than the Class I-X-1,
Class I-X-2, Class II-X and Class III-X Certificates), the product of (x)
ninety-six percent (96%) and (y) the percentage calculated by dividing its
Certificate Principal Balance by the Aggregate Certificate Principal
Balance; PROVIDED, HOWEVER, that the percentage in (x) above shall be
increased by one percent (1%) upon each retirement of the Class I-X-1,
Class I-X-2, Class II-X and Class III-X Certificates;
(ii) with respect to any Class of Class I-X-1, Class I-X-2, Class II-X
or Class III-X Certificate, one percent (1%) of such Certificate's
Percentage Interest as calculated by paragraph (a)(ii) of this definition;
and
(iii) with respect to the Class R Certificate, zero.
52
<PAGE>
PERCENTAGE REDUCTION FACTOR: With respect to the Group II Loans, the amount
set forth in the table attached hereto as Exhibit Q, for the applicable
Distribution Date.
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
Trust Fund 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.
PLANNED PRINCIPAL BALANCE: The amount set forth in the table attached
hereto as Exhibit O, for the applicable Distribution Date, for the Class II-A-1
Certificates.
PNC MORTGAGE LOAN: A Mortgage Loan listed on the Mortgage Loan Schedule as
being master serviced by the Company.
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.
PREPAYMENT PERIOD: With respect to each Payoff in respect of a PNC Mortgage
Loan, the Payoff Period; with respect to each Payoff in respect of an IndyMac
Mortgage Loan, the Prior Period; and with respect to each Curtailment in respect
of any Mortgage Loan, the Prior Period.
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 whether or not paid, 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 Mortgage Loan.
53
<PAGE>
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 principal 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,
the sum with respect to the Mortgage Loans in such Loan Group of (i) the
scheduled principal payments on the Mortgage Loans due on the related Due Date,
(ii) the principal portion of repurchase proceeds received with respect to any
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 Mortgage Loan during the Prior Period, other than Payoffs, Curtailments and
Liquidation Principal.
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, the sum with respect to the Mortgage Loans in such Loan Group of (i)
Curtailments received during the Prior Period from such Mortgage Loans and (ii)
Payoffs received during the applicable Prepayment Period from the Mortgage
Loans.
PRIOR PERIOD: The calendar month immediately preceding any Distribution
Date.
PRO RATA ALLOCATION: The allocation of the principal portion of losses
relating to a Mortgage Loan in a given Loan Group to all Classes of Certificates
in the related Certificate Group (other than the Class P Certificates) pro rata
according to their respective Class or Component Principal Balances (except if
the loss is recognized with respect to a Class P Mortgage Loan, in which event
the applicable Class P Fraction of such loss will first be allocated to the
applicable Class P Certificates, and the remainder of such loss will be
allocated as described above), and the allocation of the interest portion of
such losses to the Certificates in the related Certificate Group pro rata
according to the amount of interest accrued on each such Class or Component
(other than the Class P Certificates) in reduction thereof and then in reduction
of their related Class or Component Principal Balances, is hereinafter referred
to as "PRO RATA ALLOCATION".
54
<PAGE>
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.
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.
RATING AGENCY: Initially, each of S&P, Fitch and DCR, thereafter, each
nationally recognized statistical rating organization 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). 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.
Except for Special Hazard Losses in excess of Group I Special Hazard
Coverage, Fraud Losses in excess of Group I Fraud Coverage and Bankruptcy Losses
in excess of Group I Bankruptcy Coverage, Realized Losses with respect to the
Group I Loans shall be allocated among the Group I Certificates (i) for Realized
Losses allocable to principal (a) first, to the Class I-B-6 Certificates, until
the Class I-B-6 Principal Balance has been reduced to zero, (b) second, to the
Class I-B-5 Certificates, until the Class I-B-5 Principal Balance has been
reduced to zero, (c) third, to the Class I-B-4 Certificates, until the Class I-
B-4 Principal Balance has been reduced to zero, (d) fourth, to the Class I-B-3
Certificates, until the Class I-B-3 Principal Balance has been reduced to zero,
(e) fifth, to the Class I-B-2 Certificates, until the Class I-B-2 Principal
Balance has been
55
<PAGE>
reduced to zero, (f) sixth, to the Class I-B-1 Certificates, until the Class
I-B-1 Principal Balance has been reduced to zero, and (g) seventh, to the
Class I-A-1 Certificates in reduction thereof; PROVIDED, HOWEVER, that if the
loss is recognized with respect to a Class I-P Mortgage Loan, the Class I-P
Fraction of such loss will first be allocated to the Class I-P Certificates
and the remainder of such loss will be allocated as described above in this
clause (i); and (ii) for Realized Losses allocable to interest (a) first, to
the Class I-B-6 Certificates, in reduction of accrued but unpaid interest
thereon and then in reduction of the Class I-B-6 Principal Balance, (b)
second, to the Class I-B-5 Certificates, in reduction of accrued but unpaid
interest thereon and then in reduction of the Class I-B-5 Principal Balance,
(c) third, to the Class I-B-4 Certificates, in reduction of accrued but
unpaid interest thereon and then in reduction of the Class I-B-4 Principal
Balance, (d) fourth, to the Class I-B-3 Certificates, in reduction of accrued
but unpaid interest thereon and then in reduction of the Class I-B-3
Principal Balance, (e) fifth, to the Class I-B-2 Certificates, in reduction
of accrued but unpaid interest thereon and then in reduction of the Class
I-B-2 Principal Balance, (f) sixth, to the Class I-B-1 Certificates, in
reduction of accrued but unpaid interest thereon and then in reduction of the
Class I-B-1 Principal Balance, and (g) seventh, to the Class I-A-1 and Class
I-X Certificates pro rata according to accrued but unpaid interest on such
Classes of Certificates and then in reduction of the Class I-A-1 Principal
Balance.
Except for Special Hazard Losses in excess of Group II Special Hazard
Coverage, Fraud Losses in excess of Group II Fraud Coverage and Bankruptcy
Losses in excess of Group II Bankruptcy Coverage, Realized Losses with
respect to the Group II Loans shall be allocated among the Group II
Certificates (i) for Realized Losses allocable to principal (a) first, to the
Class II-B-6 Certificates, until the Class II-B-6 Principal Balance has been
reduced to zero, (b) second, to the Class II-B-5 Certificates, until the
Class II-B-5 Principal Balance has been reduced to zero, (c) third, to the
Class II-B-4 Certificates, until the Class II-B-4 Principal Balance has been
reduced to zero, (d) fourth, to the Class II-B-3 Certificates, until the
Class II-B-3 Principal Balance has been reduced to zero, (e) fifth, to the
Class II-B-2 Certificates, until the Class II-B-2 Principal Balance has been
reduced to zero, (f) sixth, to the Class II-B-1 Certificates, until the Class
II-B-1 Principal Balance has been reduced to zero, and (g) seventh, to the
Group II-A Certificates and Class R Certificates pro rata to such Classes of
Certificates according to their respective Class Principal Balances (or
Component Principal Balances, in the case of Component II-A-5-1 and Component
II-A-5-2) in reduction thereof; PROVIDED, HOWEVER, that if the loss is
recognized with respect to a Class II-P Mortgage Loan, the Class II-P
Fraction of such loss will first be allocated to the Class II-P Certificates
and the remainder of such loss will be allocated as described above in this
clause (i); PROVIDED, FURTHER, that all losses allocated to principal that
would otherwise be allocable to the Class II-A-1 Certificates on any
Distribution Date will be allocated to the Class II-A-9 Certificates, until
the Class II-A-9 Principal Balance has been reduced to zero; and (ii) for
Realized Losses allocable to interest (a) first, to the Class II-B-6
Certificates, in reduction of accrued but unpaid interest thereon and then in
reduction of the Class II-B-6 Principal Balance, (b) second, to the Class
II-B-5 Certificates, in reduction of accrued but unpaid interest thereon and
then in reduction of the Class II-B-5 Principal Balance, (c) third, to the
Class II-B-4 Certificates, in reduction of accrued but unpaid interest
thereon and then in reduction of the Class II-B-4 Principal Balance, (d)
fourth, to the Class II-B-3 Certificates, in reduction of accrued but unpaid
interest thereon and then in reduction of the Class II-B-3 Principal Balance,
(e) fifth, to the Class II-B-2 Certificates, in reduction of accrued but
unpaid interest thereon and then in reduction of the Class II-B-2 Principal
Balance, (f) sixth, to the Class II-B-1 Certificates, in reduction of accrued
but unpaid interest thereon and then in reduction of the Class II-B-1
Principal Balance, and (g) seventh, to the Group II-A, Class II-X and Class R
Certificates pro rata according to accrued but unpaid interest on such
56
<PAGE>
Classes of Certificates (or Component II-A-5-1 and Component II-A-5-2, in the
case of the Class II-A-5 Certificates) and then pro rata according to their
respective Class Principal Balances (or Component Principal Balances, in the
case of the Component II-A-5-1 and Component II-A-5-2) in reduction thereof;
PROVIDED, HOWEVER, that all losses allocated to interest that would otherwise
be allocable to the Class II-A-1 Certificates on any Distribution Date will
be allocated to the Class II-A-9 Certificates in reduction of accrued but
unpaid interest thereon and then in reduction of the Class II-A-9 Principal
Balance until the Class II-A-9 Principal Balance has been reduced to zero.
Except for Special Hazard Losses in excess of Group III Special Hazard
Coverage, Fraud Losses in excess of Group III Fraud Coverage and Bankruptcy
Losses in excess of Group III Bankruptcy Coverage, Realized Losses with
respect to the Group III Loans shall be allocated among the Group III
Certificates (i) for Realized Losses allocable to principal (a) first, to the
Class III-B-6 Certificates, until the Class III-B-6 Principal Balance has
been reduced to zero, (b) second, to the Class III-B-5 Certificates, until
the Class III-B-5 Principal Balance has been reduced to zero, (c) third, to
the Class III-B-4 Certificates, until the Class III-B-4 Principal Balance has
been reduced to zero, (d) fourth, to the Class III-B-3 Certificates, until
the Class III-B-3 Principal Balance has been reduced to zero, (e) fifth, to
the Class III-B-2 Certificates, until the Class III-B-2 Principal Balance has
been reduced to zero, (f) sixth, to the Class III-B-1 Certificates, until the
Class III-B-1 Principal Balance has been reduced to zero, and (g) seventh, to
the Class III-PT Certificates in reduction thereof; PROVIDED, HOWEVER, that
if the loss is recognized with respect to a Class III-P Mortgage Loan, the
Class III-P Fraction of such loss will first be allocated to the Class III-P
Certificates and the remainder of such loss will be allocated as described
above in this clause (i); and (ii) for Realized Losses allocable to interest
(a) first, to the Class III-B-6 Certificates, in reduction of accrued but
unpaid interest thereon and then in reduction of the Class III-B-6 Principal
Balance, (b) second, to the Class III-B-5 Certificates, in reduction of
accrued but unpaid interest thereon and then in reduction of the Class
III-B-5 Principal Balance, (c) third, to the Class III-B-4 Certificates, in
reduction of accrued but unpaid interest thereon and then in reduction of the
Class III-B-4 Principal Balance, (d) fourth, to the Class III-B-3
Certificates, in reduction of accrued but unpaid interest thereon and then in
reduction of the Class III-B-3 Principal Balance, (e) fifth, to the Class
III-B-2 Certificates, in reduction of accrued but unpaid interest thereon and
then in reduction of the Class III-B-2 Principal Balance, (f) sixth, to the
Class III-B-1 Certificates, in reduction of accrued but unpaid interest
thereon and then in reduction of the Class III-B-1 Principal Balance, and (g)
seventh, to the Class III-PT and Class III-X Certificates pro rata according
to accrued but unpaid interest on such Classes of Certificates and then in
reduction of the Class III-PT Principal Balances.
Special Hazard Losses on Group I Loans in excess of the Special Hazard
Coverage, Fraud Losses on Group I Loans in excess of the Group I Fraud
Coverage, and Bankruptcy Losses on Group I Loans in excess of the Group I
Bankruptcy Coverage shall be allocated among the Group I Certificates by Pro
Rata Allocation.
Special Hazard Losses on Group II Loans in excess of the Special Hazard
Coverage, Fraud Losses on Group II Loans in excess of the Group II Fraud
Coverage, and Bankruptcy Losses on Group II Loans in excess of the Group II
Bankruptcy Coverage shall be allocated among the Group II Certificates by Pro
Rata Allocation.
Special Hazard Losses on Group III Loans in excess of the Special Hazard
Coverage, Fraud Losses on Group III Loans in excess of the Group III Fraud
Coverage, and Bankruptcy Losses on
57
<PAGE>
Group III Loans in excess of the Group III Bankruptcy Coverage shall be
allocated among the Group III Certificates by Pro Rata Allocation.
On each Distribution Date, after giving effect to the principal
distributions and allocations of losses as provided in this Agreement
(without regard to this paragraph), if the aggregate Certificate Principal
Balance of all outstanding Group I Certificates exceeds the aggregate
principal balance of the Group I Loans remaining to be paid at the close of
business on the Cut-Off Date, after deduction of (i) all principal payments
due on or before the Cut-Off Date in respect of each such Mortgage Loan
whether or not paid and (ii) all amounts of principal in respect of each such
Mortgage Loan that have been received or advanced and included in the
Available Distribution Amount for Loan Group I, and all losses in respect of
each such Mortgage Loan that have been allocated to Certificates, on such
Distribution Date or prior Distribution Dates, then such excess will be
deemed a principal loss and will be allocated to the most junior Class of
Group I-B Certificates, in reduction of the Class Principal Balance thereof.
On each Distribution Date, after giving effect to the principal
distributions and allocations of losses as provided in this Agreement
(without regard to this paragraph), if the aggregate Certificate Principal
Balance of all outstanding Group II Certificates exceeds the aggregate
principal balance of the Group II Loans remaining to be paid at the close of
business on the Cut-Off Date, after deduction of (i) all principal payments
due on or before the Cut-Off Date in respect of each such Mortgage Loan
whether or not paid and (ii) all amounts of principal in respect of each such
Mortgage Loan that have been received or advanced and included in the
Available Distribution Amount for Loan Group II, and all losses in respect of
each such Mortgage Loan that have been allocated to Certificates, on such
Distribution Date or prior Distribution Dates, then such excess will be
deemed a principal loss and will be allocated to the most junior Class of
Group II-B Certificates, in reduction of the Class Principal Balance thereof.
On each Distribution Date, after giving effect to the principal
distributions and allocations of losses as provided in this Agreement
(without regard to this paragraph), if the aggregate Certificate Principal
Balance of all outstanding Group III Certificates exceeds the aggregate
principal balance of the Group III Loans remaining to be paid at the close of
business on the Cut-Off Date, after deduction of (i) all principal payments
due on or before the Cut-Off Date in respect of each such Mortgage Loan
whether or not paid and (ii) all amounts of principal in respect of each such
Mortgage Loan that have been received or advanced and included in the
Available Distribution Amount for Loan Group III, and all losses in respect
of each such Mortgage Loan that have been allocated to Certificates, on such
Distribution Date or prior Distribution Dates, then such excess will be
deemed a principal loss and will be allocated to the most junior Class of
Group III-B Certificates, in reduction of the Class Principal Balance thereof.
RECORD DATE: The last Business Day of the month immediately preceding
the month of the related Distribution Date.
REFERENCE BANKS: Barclays Bank PLC, Bankers Trust Company and The Bank
of Tokyo, Ltd. or, if any such bank shall cease to provide quotations for
one-month United States dollar-denominated deposits, any other leading bank
with an established place of business in London engaged in transactions in
Eurodollar deposits in the international Eurocurrency market not controlling,
controlled by or under common control with the Company, designated by the
58
<PAGE>
Company from time to time for the purpose of providing quotations for
one-month United States dollar-denominated deposits.
REGULAR INTEREST CERTIFICATES: The Certificates, other than the Class R
Certificates.
REMIC: A real estate mortgage investment conduit, as such term is
defined in the Code.
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 each Class of Certificates or Component of the
Class II-A-5 Certificates, the per annum rate set forth as the Remittance
Rate for such Class or Component in the Preliminary Statement hereto.
RESIDUAL CERTIFICATES: The Class R Certificates, which are being issued
in a single class. The Class R Certificates are hereby designated the sole
Class of "residual interests" in the REMIC related to the Trust Fund 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
distributions to the related Certificates. 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 payment to
the Certificateholders of the amounts set forth in Section 9.01 of this
Agreement, 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.
SCHEDULED PRINCIPAL BALANCE: With respect to any Mortgage Loan as of any
Distribution Date, the unpaid principal balance of such Mortgage Loan as
specified in the amortization schedule at the time relating thereto (before
any adjustment to such schedule by reason of bankruptcy or similar proceeding
or any moratorium or similar waiver or grace period) as of the first day of
the month preceding the month of such Distribution Date, after giving effect
to any previously applied Curtailments, the payment of principal due on such
first day of the month and any reduction of the principal balance of such
Mortgage Loan by a bankruptcy court, irrespective of any delinquency in
payment by the related Mortgagor.
SECURITIES ACT: The Securities Act of 1933, as amended.
SECURITY AGREEMENT: With respect to a Cooperative Loan, the agreement
creating a security interest in favor of the originator of the Cooperative
Loan in the related Cooperative Stock.
59
<PAGE>
SELLING AND SERVICING CONTRACT: (a)(i) 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
Company and a Person relating to the sale of the Mortgage Loans to the
Company and, with respect to the PNC Mortgage Loans, the servicing of such
Mortgage Loans for the benefit of the Certificateholders, which contract is
substantially in the form of Exhibit E hereto, as such contract may be
amended or modified from time to time; provided, however, that any such
amendment or modification shall not materially adversely affect the interests
and rights of Certificateholders and (ii) the contract between IndyMac and a
Person relating to the servicing of the IndyMac Mortgage Loans for the
benefit of the Certificateholders, which contract is substantially in the
form of Exhibit E hereto, as such contract may be amended or modified from
time to time; provided, however, that any such amendment or modification
shall not materially adversely affect the interests and rights of
Certificateholders; and (b) any other similar contract providing
substantially similar rights and benefits as those provided by the forms of
contract attached as Exhibit E hereto.
SENIOR CERTIFICATES: The Class A, Class P, Class X and Class R
Certificates, collectively.
SERVICER: A mortgage loan servicing institution to which the applicable
Master Servicer has assigned servicing duties with respect to any Mortgage
Loan under a Selling and Servicing Contract; provided, however, each 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 FEE: For each Mortgage Loan, the fee paid to the Servicer
thereof to perform primary servicing functions with respect to such Mortgage
Loan, equal to the per annum rate set forth for each Mortgage Loan in the
Mortgage Loan Schedule on the outstanding Principal Balance of such Mortgage
Loan.
SERVICING OFFICER: Any officer of a Master Servicer or the Certificate
Administrator involved in, or responsible for, the administration and
servicing of the Mortgage Loans or the Certificates, as applicable, whose
name and specimen signature appear on a list of servicing officers furnished
to the Trustee by a Master Servicer or the Certificate Administrator, as such
list may from time to time be amended.
SPECIAL HAZARD COVERAGE: With respect to a Loan Group, the Special
Hazard Coverage Initial Amount less Special Hazard Losses allocated to the
Certificates in the related Certificate Group and the amount of any scheduled
reduction in the amount of Special Hazard Coverage as follows: on each
anniversary of the Cut-Off Date, the Special Hazard Coverage 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 the related Loan Group, in each case calculated as of the
Due Date in the immediately preceding month, and (2) the Special Hazard
Coverage Initial Amount as reduced by the Special Hazard Losses allocated to
the Certificates in the related Certificate Group since the Cut-Off Date.
Special Hazard 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.
60
<PAGE>
SPECIAL HAZARD COVERAGE INITIAL AMOUNT: With respect to Loan Group I,
$3,900,113, with respect to Loan Group II, $4,996,812 and with respect to
Loan Group III, $1,976,393.
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 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.
STEP DOWN PERCENTAGE: For any Distribution Date, the percentage
indicated below:
Distribution Date Occurring In Step Down Percentage
----------------------------------- --------------------
December 1997 through November 2002 0%
December 2002 through November 2003 30%
December 2003 through November 2004 40%
December 2004 through November 2005 60%
December 2005 through November 2006 80%
December 2006 and thereafter 100%
STRIPPED INTEREST RATE: For each Group I Loan, the excess, if any, of
the Pass-Through Rate for such Mortgage Loan over 7.250%, for each Group II
Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan
over 7.000% and for each Group III Loan, the excess, if any, of the
Pass-Through Rate for such Mortgage Loan over 6.750%.
SUBORDINATE CERTIFICATES: The Group I-B, Group II-B and Group III-B
Certificates, collectively.
SUBORDINATION LEVEL: On any specified date, with respect to any of the
Group I-B Certificates, the percentage obtained by dividing the sum of the
Class Principal Balances of the Classes of Certificates which are subordinate
in right of payment to such Class (provided that no Class of Group I-B
Certificates shall be subordinate in right of payment to the Class I-B-6
Certificates) by the aggregate of the Class Principal Balances of the Group I
Certificates as of such
61
<PAGE>
date prior to giving effect to distributions of principal or interest or
allocations of Realized Losses on the Group I Loans on such date. On any
specified date, with respect to any of the Group II-B Certificates, the
percentage obtained by dividing the sum of the Class Principal Balances of
the Classes of Certificates which are subordinate in right of payment to such
Class (provided that no Class of Group II-B Certificates shall be subordinate
in right of payment to the Class II-B-6 Certificates) by the aggregate of the
Class Principal Balances of the Group II Certificates as of such date prior
to giving effect to distributions of principal or interest or allocations of
Realized Losses on the Group II Loans on such date. On any specified date,
with respect to any of the Group III-B Certificates, the percentage obtained
by dividing the sum of the Class Principal Balances of the Classes of
Certificates which are subordinate in right of payment to such Class
(provided that no Class of Group III-B Certificates shall be subordinate in
right of payment to the Class III-B-6 Certificates) by the aggregate of the
Class Principal Balances of the Group III Certificates as of such date prior
to giving effect to distributions of principal or interest or allocations of
Realized Losses on the Group III Loans on such date.
SUBSTITUTE MORTGAGE LOAN: As defined in Section 2.02.
TARGETED PRINCIPAL BALANCE: The amount set forth in the table attached
hereto as Exhibit P, for the applicable Distribution Date, for each of the
Class II-A-2, Class II-A-3 and Class II-A-10 Certificates, as applicable.
TAX MATTERS PERSON: The Holder of the Class R Certificate issued
hereunder having an Authorized Denomination of 0.01% or any Permitted
Transferee of such Class R Certificateholder. If the Tax Matters Person
becomes a Disqualified Organization, the last preceding Holder of such
Authorized Denomination of the Class R Certificate that is not a Disqualified
Organization shall be Tax Matters Person pursuant to Section 5.01(c). If any
Person is appointed as tax matters person by the Internal Revenue Service
pursuant to the Code, such Person shall be Tax Matters Person.
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).
TRANSFEREE AFFIDAVIT AND AGREEMENT: As defined in Section 5.01(c)(i)(B).
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 Accounts (except
amounts representing the Certificate Administrator Fee, the Master Servicing
Fee or the Servicing Fee); (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 Certificate X Fee, the Master Servicing Fee
or the Servicing Fee); (iv) property which secured a Mortgage Loan and which
has been acquired by foreclosure or deed in lieu of foreclosure or, in the
case of a Cooperative Loan, a similar form of
62
<PAGE>
conversion, after the Cut-Off Date; and (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.
TRUSTEE: U.S. Bank National Association, or its successor-in-interest as
provided in Section 8.09, or any successor trustee appointed as herein
provided.
UNCOLLECTED INTEREST: With respect to any Distribution Date for any PNC
Mortgage Loan on which a Payoff was made by a Mortgagor during the related
Prepayment Period, except for Payoffs received during the period from the
first through the 14th day of the month of such Distribution Date, an amount
equal to one month's interest at the applicable Pass-Through Rate on such
Mortgage Loan less the amount of interest actually paid by the Mortgagor with
respect to such Payoff; with respect to any Distribution Date for any IndyMac
Mortgage Loan on which a Payoff was made by a Mortgagor during the related
Prepayment Period, an amount equal to one month's interest at the applicable
Pass-Through Rate on such Mortgage Loan less the amount of interest actually
paid by the Mortgagor with respect to such Payoff.
UNCOMPENSATED INTEREST SHORTFALL: With respect to a Loan Group, for any
Distribution Date, the excess, if any, of (i) the sum of (a) aggregate
Uncollected Interest with respect to the Mortgage Loans in the related Loan
Group and (b) aggregate Curtailment Shortfall with respect to the Mortgage
Loans in the related Loan Group over (ii) Compensating Interest with respect
to such Loan Group.
UNDERWRITER: Donaldson, Lufkin & Jenrette Securities Corporation.
UNDERWRITING STANDARDS: The underwriting standards of the Company, Old
Kent Mortgage Co., Chase Manhattan Mortgage Corporation, National City
Mortgage, Western Financial Savings Bank, First Nationwide Mortgage Corp.,
PHH US Mortgage Corporation, Countrywide Home Loan, Inc., IndyMac, Inc.,
Headlands Mortgage Co., Washington Mutual, FA or Bank of America FSB, as
applicable.
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
63
<PAGE>
Business Day) and ending on the last Business Day prior to the 21st day of
the month of such Distribution Date.
64
<PAGE>
ARTICLE II
CONVEYANCE OF THE TRUST FUND; REMIC ELECTION AND DESIGNATIONS;
ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. 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. 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, of a Master Servicer, of the
Certificate Administrator 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, 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.
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, 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,
65
<PAGE>
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, Cooperative Stock
Certificates, Cooperative Leases, 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 Accounts, the Custodial Accounts for P&I and the
Custodial Accounts for Reserves, 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, the Security Agreements, Assignments of Proprietary Lease,
Cooperative Stock Certificates, Cooperative Leases 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.
The Company and the Trustee at the direction of the Company 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,
66
<PAGE>
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, except in states where, in the opinion of counsel admitted to practice
in such state acceptable to the Company, the Trustee and the Rating Agency
submitted in lieu of such recording or filing, such recording or filing is
not required to protect the Trustee's interest in the Mortgage Loans against
creditors of, or against sale, further assignments, satisfaction or discharge
by the Lender, a Servicer, the Company or a Master Servicer, and the Company
shall cause to be filed the Form UCC-3 assignment and Form UCC-1 financing
statement referred to in clause (Y)(vii) and (ix), respectively, of the
definition of "Mortgage File." In connection with its servicing of
Cooperative Loans, each Master Servicer will use its best efforts to file
timely continuation statements, if necessary, with regard to each financing
statement and assignment relating to Cooperative Loans.
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 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.
67
<PAGE>
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 related Master Servicer's consent,
to appoint any bank or trust company approved by and unaffiliated with each
of the Company, the Certificate Administrator or any Master Servicer as
Custodian of the documents or instruments referred to above in this Section
2.01, and to enter into a Custodial Agreement 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 the Trust
Fund as a REMIC within the meaning of Section 860D of the Code and, if
necessary, under applicable state laws. Such election shall be included in
the Form 1066 and any appropriate state return to be filed on behalf of the
REMIC constituted by the Trust Fund for its first taxable year.
The Closing Date is hereby designated as the "startup day" of the REMIC
constituted by the Trust Fund within the meaning of Section 860G(a)(9) of the
Code.
The regular interests (as set forth in the table contained in the
Preliminary Statement hereto) relating to the Trust Fund are hereby
designated as "regular interests" for purposes of Section 860G(a)(1) of the
Code. The Class R Certificates are being issued in a single Class, which is
hereby designated as the sole class of "residual interest" in the Trust Fund
for purposes of Section 860G(a)(2) of the Code.
The parties intend that the affairs of the Trust Fund formed hereunder
shall constitute, and that the affairs of the Trust Fund shall be conducted
so as to qualify the Trust Fund as a REMIC. 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 the Trust Fund 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 the Trust Fund 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 the Trust Fund to be treated as a REMIC on the federal tax
return of the Trust Fund for its first taxable year, in accordance with the
REMIC Provisions; (c) prepare and forward, or cause to be prepared and
forwarded, to the holders of the Certificates 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; (d) conduct the affairs of
the Trust Fund at all times that any Certificates are outstanding so as to
maintain the status of the Trust Fund as a REMIC 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 the Trust Fund; and
(f) pay the amount of any federal prohibited transaction penalty taxes
imposed on the Trust Fund 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
68
<PAGE>
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 Servicers 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 related 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 such Master Servicer in
its sole discretion, determines to be the greatest price that will result in
the purchase thereof within 90 days of such date, unless such Master Servicer
delivers to the Trustee 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 the Trust Fund as a REMIC for federal income tax purposes.
In the event that any tax is imposed on "prohibited transactions" of the
Trust Fund 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 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 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 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 trusts herein set forth, for the use and benefit of the Holders from time
to time of the Certificates. The Trustee agrees, for the benefit of the
Holders of the Certificates, to review or cause the Custodian to review each
Mortgage File within 45 days after the Closing Date and deliver to the
Company 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 (X)(vi) and (Y)(x) 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
69
<PAGE>
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 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 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. 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.
70
<PAGE>
Section 2.03. REPRESENTATIONS AND WARRANTIES OF THE COMPANY CONCERNING
THE MORTGAGE LOANS. The Company hereby represents and warrants to the Trustee
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, other than with respect to
Cooperative Loans, 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
(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
except to the extent that the Buydown Agreement for a Buydown Loan forgives
certain indebtedness of a Mortgagor;
(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
71
<PAGE>
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 (except the
Cooperative Loans) 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) Except as set forth in Exhibit N attached hereto, 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);
(xii) As of the Closing Date, all policies of insurance required by
this Agreement or by a Selling and Servicing Contract (except that the
Mortgage Loans described in Exhibit N, attached hereto, do not have Primary
Insurance Policies) have been validly issued and remain in full force and
effect, including such policies covering the Company, either Master Servicer
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, other than with respect to a
Cooperative Loan, 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
72
<PAGE>
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) None of the Mortgage Loans are Buydown Loans;
(xix) As of the Cut-Off Date, based solely on representations of the
Mortgagors obtained at the origination of the related Mortgage Loans,
approximately 70.4% (by Principal Balance) of the Group I Loans will be
secured by owner occupied Mortgaged Properties which are the primary
residences of the related Mortgagors, approximately 3.8% (by Principal
Balance) of the Group I Loans will be secured by owner occupied Mortgaged
Properties which were second or vacation homes of the Mortgagors and
approximately 25.7% (by Principal Balance) of the Group I Loans will be
secured by Mortgaged Properties which were investor properties of the related
Mortgagors; approximately 93.9% (by Principal Balance) of the Group II Loans
will be secured by owner occupied Mortgaged Properties which are the primary
residences of the related Mortgagors, approximately 2.6% (by Principal
Balance) of the Group II Loans will be secured by owner occupied Mortgaged
Properties which were second or vacation homes of the Mortgagors and
approximately 3.5% (by Principal Balance) of the Group II Loans will be
secured by Mortgaged Properties which were investor properties of the related
Mortgagors; approximately 94.0% (by Principal Balance) of the Group III Loans
will be secured by owner occupied Mortgaged Properties which are the primary
residences of the related Mortgagors, approximately 3.1% (by Principal
Balance) of the Group III Loans will be secured by owner occupied Mortgaged
Properties which were second or vacation homes of the Mortgagors and
approximately 2.9% (by Principal Balance) of the Group III Loans will be
secured by Mortgaged Properties which were investor properties of the related
Mortgagors; and as of the Cut-Off Date, 22 of the Group I Loans, representing
approximately 0.5% (by Principal Balance) of the Group I Loans will be
secured by interests in Cooperative Apartments, 3 of the Group II Loans,
representing approximately 0.3% (by Principal Balance) of the Group II Loans
will be secured by interests in Cooperative Apartments, and none of the Group
III Loans will be secured by interests in Cooperative Apartments.
(xx) Prior to origination or refinancing, an appraisal of each
Mortgaged Property was made by an appraiser on a form satisfactory to FNMA or
FHLMC;
(xxi) The Mortgage Loans have been underwritten substantially in
accordance with the applicable Underwriting Standards;
(xxii) 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;
73
<PAGE>
(xxiii) The Company used no adverse selection procedures in selecting
the Mortgage Loans from among the outstanding fixed-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;
(xxiv) With respect to a Mortgage Loan that is a Cooperative Loan,
the Cooperative Stock that is pledged as security for the Mortgage Loan is
held by a person as a tenant-stockholder (as defined in Section 216 of the
Code) in a cooperative housing corporation (as defined in Section 216 of the
Code);
(xxv) Each Cooperative Loan is secured by a valid, subsisting and
enforceable perfected first lien and security interest in the related
Cooperative Stock securing the related Mortgage Note, subject only to (a)
liens of the Cooperative for unpaid assessments representing the Mortgagor's
pro rata share of the Cooperative's payments for its blanket mortgage,
current and future real property taxes, insurance premiums, maintenance fees
and other assessments to which like collateral is commonly subject, and (b)
other matters to which like collateral is commonly subject which do not
materially interfere with the benefits of the security intended to be
provided by the Security Agreement;
(xxvi) With respect to any Mortgage Loan as to which an affidavit has
been delivered to the Trustee certifying that the original Mortgage Note is a
Destroyed Mortgage Note, if such Mortgage Loan is subsequently in default,
the enforcement of such Mortgage Loan or of the related Mortgage by or on
behalf of the Trustee will not be materially adversely affected by the
absence of the original Mortgage Note;
(xxvii) As of the date of origination, based upon an appraisal of the
Mortgaged Property securing each Mortgage Loan, approximately 91.0% (by
Principal Balance) of the Group I Loans had a Loan-to-Value Ratio less than
or equal to 80%, approximately 9.0% (by Principal Balance) of the Group I
Loans had a Loan-to-Value Ratio greater than 80% but less than or equal to
95% and no Group I Loan had a Loan-to-Value Ratio at origination greater than
95%; approximately 86.8% (by Principal Balance) of the Group II Loans had a
Loan-to-Value Ratio less than or equal to 80%, approximately 13.2% (by
Principal Balance) of the Group II Loans had a Loan-to-Value Ratio greater
than 80% but less than or equal to 95% and no Group II Loan had a
Loan-to-Value Ratio at origination greater than 95%; approximately 96.8% (by
Principal Balance) of the Group III Loans had a Loan-to-Value Ratio less than
or equal to 80%, approximately 3.2% (by Principal Balance) of the Group III
Loans had a Loan-to-Value Ratio greater than 80% but less than or equal to
95% and no Group III Loan had a Loan-to-Value Ratio at origination greater
than 95%;
(xviii) Approximately 45.8% (by Principal Balance) of the Group I
Loans, approximately 47.5% (by Principal Balance) of the Group II Loans and
approximately 57.4% (by Principal Balance) of the Group III Loans were
originated for the purpose of refinancing existing mortgage debt, including
cash-out refinancings and approximately 54.2% (by Principal Balance) of the
Group I Loans, approximately 52.5% (by Principal Balance) of the Group II
Loans and approximately 42.6% (by Principal Balance) of the Group III Loans
were originated for the purpose of purchasing the Mortgaged Property;
74
<PAGE>
(xix) Not less than approximately 31.6%, 66.4% and 78.9% (by
Principal Balance) of the Group I Loans, Group II Loans and Group III Loans,
respectively, were originated under full documentation programs;
(xxix) 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).
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 Certificate Administrator, a Master Servicer, the Trustee 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 in the related Mortgage
Loans, the Company, the Certificate Administrator, the Master Servicer, the
Trustee 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 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.
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 WITH RESPECT TO THE
PNC MORTGAGE LOANS AND INDYMAC TO ACT AS MASTER SERVICER WITH RESPECT TO THE
INDYMAC MORTGAGE LOANS. The Company and IndyMac, Inc. ("IndyMac") shall each
act as Master Servicer to service and administer the PNC Mortgage Loans and
the IndyMac Mortgage Loans, respectively, on behalf of the Trustee and for
the benefit of the Certificateholders in accordance with the terms hereof and
75
<PAGE>
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 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. Each Master Servicer may perform its respective master servicing
responsibilities through agents or independent contractors, but shall not
thereby be released from any of its responsibilities hereunder and each
Master Servicer shall diligently pursue all of its rights against such agents
or independent contractors.
Each Master Servicer shall make reasonable efforts to collect or cause
to be collected all payments called for under the terms and provisions of the
related 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 related Mortgage Loans and held in portfolios of
responsible mortgage lenders in the local areas where each Mortgaged Property
is located. The Master Servicers shall enforce "due-on-sale" clauses with
respect to the related Mortgage Loans, to the extent permitted by law,
subject to the provisions set forth in Section 3.08.
Consistent with the foregoing, each 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 related Mortgage Loan and
(ii) only upon determining that the coverage of any applicable insurance
policy or guaranty related to a related 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.
Each Master Servicer shall have the right, but not the obligation, to
repurchase any related 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, as of the Cut-Off Date, of all PNC Mortgage Loans in the case of the
Company and all IndyMac Mortgage Loans in the case of IndyMac.
Each 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 related Mortgage Loans and with
respect to the related Mortgaged Properties. The Trustee shall furnish each
Master Servicer, at such Master Servicer's direction, with any powers of
attorney and other documents necessary or appropriate to enable such Master
Servicer to carry out its supervisory, servicing and administrative duties
under this Agreement.
Each 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 Selling
and Servicing Contract, respectively. Each Master Servicer or each Servicer,
76
<PAGE>
as applicable, shall establish escrow accounts for, or pay when due (by means
of an advance), any tax liens in connection with the related Mortgaged
Properties that are not paid by the related Mortgagors when due to the extent
that any such payment would not constitute a Nonrecoverable Advance when
made. Notwithstanding the foregoing, no Master Servicer shall permit any
modification with respect to any Mortgage Loan master serviced by it 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 REMIC to fail
to qualify as such under the Code. With respect to each Mortgage Loan, the
related 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 Trust Fund 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 either REMIC as a result thereof.
In connection with the servicing and administering of each Mortgage
Loan, the related Master Servicer and any affiliate of such Master Servicer
(i) may perform services such as appraisals, default management and brokerage
servicers that are not customarily provided by servicers of mortgage loans,
and shall be entitled to reasonable compensation therefore and (ii) may, at
its own discretion and on behalf of the Trustee, obtain credit information in
the form of a "credit score" from a credit repository.
Section 3.02. CUSTODIAL ACCOUNTS. Each Master Servicer shall cause to
be established and maintained by each Servicer, under such Master Servicer's
supervision, Custodial Accounts for P&I, Buydown Fund Accounts (if any) and
special Custodial Account for Reserves and shall deposit or cause to be
deposited therein daily the amounts related to the related Mortgage Loans
required by the Selling and Servicing Contracts to be so deposited. 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 covering such Mortgage Loans shall be deposited first in the
related 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 related Custodial Account for Reserves shall
be deposited in the related Custodial Account for P&I, and shall be applied
to the balances of the related Mortgage Loans as payments of interest and
principal.
Each Master Servicer is hereby authorized to make withdrawals from and
to draft the related Custodial Accounts for P&I and the Custodial Accounts
for Reserves for the purposes required or permitted by this Agreement. Each
Custodial Account for P&I and each Custodial Account for Reserves shall bear
a designation clearly showing the respective interests of the applicable
Servicer, as trustee, and of the related Master Servicer, in substantially
one of the following forms:
77
<PAGE>
(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.][IndyMac, Inc.], its
successors and assigns, for various owners of interests in [PNC Mortgage
Securities Corp.][IndyMac, Inc.] mortgage-backed pools or (ii) [Servicer's Name]
in trust for [PNC Mortgage Securities Corp.][IndyMac, Inc.];
(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.][IndyMac, Inc.], its
successors and assigns for various mortgagors and/or various owners of interests
in [PNC Mortgage Securities Corp.][IndyMac, Inc.] mortgage-backed pools or (ii)
[Servicer's Name] in trust for [PNC Mortgage Securities Corp.][IndyMac, Inc.]
and various Mortgagors.
Each Master Servicer hereby undertakes to assure remittance to the
Certificate Account of all amounts relating to the related Mortgage Loans
that have been collected by any Servicer under its supervision and are due to
the Certificate Account pursuant to Section 4.01 of this Agreement.
Section 3.03. THE INVESTMENT ACCOUNTS; ELIGIBLE INVESTMENTS.
(a) Not later than the Withdrawal Date, each Master Servicer shall
withdraw or direct the withdrawal of funds in the related Custodial Accounts
for P&I, for deposit in the related Investment Account, in an amount
representing:
(i) Scheduled installments of principal and interest on the
related Mortgage Loans received or advanced by the applicable Servicers
which were due on the Due Date prior to such Withdrawal Date, net of
Servicing Fees due the applicable Servicers and less any amounts to be
withdrawn later by the applicable Servicers from the applicable Buydown
Fund Accounts;
(ii) Payoffs and the proceeds of other types of liquidations
of the related Mortgage Loans received by the applicable Servicer for
such Mortgage Loans during the applicable Prepayment Period, with
interest to the date of Payoff or liquidation less any amounts to be
withdrawn later by the applicable Servicers from the applicable Buydown
Fund Accounts; and
(iii) Curtailments received by the applicable Servicers in
the Prepayment Period.
At its option, each 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 such 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) for its own account and at its own risk, during any period
prior to their deposit in the Certificate Account. Such funds, as well as any
funds which were withdrawn from the related 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 related Master Servicer with the
Investment Depository in an Investment Account in the name of such Master
Servicer and the
78
<PAGE>
Trustee for investment only as set forth in this Section 3.03. The related
Master Servicer shall bear any and all losses incurred on any investments
made with such funds and shall be entitled to retain all gains realized on
such investments as additional servicing compensation. Not later than the
Business Day prior to the Distribution Date, each 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 Accounts shall be invested 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.
Section 3.04. THE CERTIFICATE ACCOUNT.
(a) Not later than the Business Day prior to the related Distribution
Date, each Master Servicer shall direct the Investment Depository to deposit the
amounts previously deposited by such Master Servicer into its 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 Business Day prior to the Distribution Date, each Master Servicer
shall deposit into the Certificate Account any Monthly P&I Advances or other
payments required to be made by such 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 Agreement pursuant
to Section 9.01) not previously deposited in the related Custodial Accounts for
P&I or the related Investment Account.
(b) Funds held in the Certificate Account shall be invested at the
direction of the Certificate Administrator 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. The Certificate Administrator shall be entitled to
receive any gains earned on such Eligible Investments and shall bear any losses
suffered in connection therewith.
Section 3.05. PERMITTED WITHDRAWALS FROM THE CERTIFICATE ACCOUNT,
INVESTMENT ACCOUNTS AND CUSTODIAL ACCOUNTS FOR P&I AND OF BUYDOWN FUNDS FROM THE
BUYDOWN FUND ACCOUNTS.
(a) Each Master Servicer is authorized to make withdrawals, from time to
time, from its Investment Account or the Custodial Accounts for P&I established
by the Servicers under such Master Servicer's supervision, 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 Selling and Servicing
Contract, such right to reimbursement pursuant to this paragraph (i) being
limited to amounts received on
79
<PAGE>
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 applicable Master Servicer pursuant
to Section 3.09 or amounts expended by such Servicer pursuant to the
Selling and 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, with respect to the related Mortgage
Loans, the Master Servicing Fee (net of Compensating Interest reduced by,
in the case of Compensating Interest with respect to the PNC Mortgage
Loans, Payoff Earnings and Payoff Interest) as to which no prior
withdrawals from funds deposited by such Master Servicer have been made;
(iv) To reimburse itself or the applicable Servicer for advances
made with respect to related Mortgage Loans which such Master Servicer has
determined to be Nonrecoverable Advances;
(v) To pay to itself reinvestment earnings deposited or earned
in its Investment Account (net of reinvestment losses) to which it is
entitled and to reimburse itself for expenses incurred by and reimbursable
to it pursuant to Section 6.03;
(vi) To deposit in the Certificate Account, not later than the
Business Day prior to the related Distribution Date, the amounts specified
in Section 3.04(a); and
after making or providing for the above withdrawals
(vii) To clear and terminate its Investment Account following
termination of this Agreement pursuant to Section 9.01.
Since, in connection with withdrawals pursuant to paragraphs (i) and (ii),
the related Master Servicer's entitlement thereto is limited to collections or
other recoveries on the related Mortgage Loan, such 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) Each 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
established by any Servicer under its supervision of the following amounts of
Buydown Funds:
(i) To deposit each month in its Investment Account established
by such Master Servicer 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
80
<PAGE>
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
its Investment Account as Liquidation Proceeds; and
(iv) To clear and terminate the portion of any account
representing Buydown Funds following termination of this Agreement pursuant
to Section 9.01;
(c) The Certificate Administrator is authorized to make withdrawals, from
time to time, from the Certificate Account of amounts deposited therein in
respect of the Certificates, as follows:
(i) To reimburse or pay either Master Servicer or any Servicer
the amounts described in clause (a) above which have been deposited in the
Certificate Account;
(ii) To deposit amounts in the applicable Investment Account
representing amounts in the Certificate Account not required to be on
deposit therein at the time such withdrawal; and
(iii) To pay itself the Certificate Administrator Fee,
reinvestment earnings deposited or earned in the Certificate Account (net
of reinvestment losses) to which it is entitled, and expenses incurred by
it and reimbursable to it pursuant to Section 6.03.
(d) 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.
(e) The Trustee is authorized to make withdrawals from time to time from
the Certificate Account to pay to the Certificate Administrator the Certificate
Administrator Fee, to pay the Certificate Administrator reinvestment earnings
deposited or earned in the Certificate Account (net of reinvestment losses) to
which it is entitled, and to reimburse the Certificate Administrator for
expenses incurred by and reimbursable to it pursuant to Section 6.03.
Section 3.06. MAINTENANCE OF PRIMARY INSURANCE POLICIES; COLLECTIONS
THEREUNDER. Each Master Servicer shall use its best reasonable efforts to keep,
and to cause the Servicers under its supervision to keep, in full force and
effect each Primary Insurance Policy required with respect to a related Mortgage
Loan, in the manner set forth in the applicable Selling and Servicing Contract,
until no longer required. Notwithstanding the foregoing, neither Master Servicer
shall have any 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.
Unless required by applicable law, neither Master Servicer shall cancel or
refuse to renew, or allow any Servicer under its supervision to 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
81
<PAGE>
be kept in force hereunder; provided, however, that neither Master Servicer,
nor any Servicer under such Master Servicer's supervision, shall advance
funds for the payment of any premium due under any Primary Insurance Policy
if such Master Servicer shall determine that such an advance would be a
Nonrecoverable Advance.
Section 3.07. MAINTENANCE OF HAZARD INSURANCE. Each Master Servicer shall
cause to be maintained for each related Mortgage Loan (other than a Cooperative
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 related Master Servicer in which such amount exceeds the value of the
improvements to the Mortgaged Property. Each 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 related
Mortgage Loan (other than a Cooperative 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 related Custodial
Account for P&I, subject to withdrawal pursuant to the applicable Selling and
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 related Master Servicer
from the related Investment Account. Such insurance shall be with insurers
approved by the related 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 (other than a Mortgaged Property secured by a Cooperative
Loan) 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 related 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. Each Master Servicer or
the applicable Servicer under such master Servicer's supervision shall be
responsible for paying any deductible amount on any such blanket policy. Each
Master Servicer agrees to present, or cause to be presented, on behalf of and
for the benefit of the Trustee and Certificateholders, claims under the hazard
insurance policy respecting any related 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
related 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 related Master Servicer
shall not exercise any such right if the due-on-sale clause, in the reasonable
belief of such 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 related Master
Servicer is prohibited from exercising such right, the related 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
82
<PAGE>
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 related Master Servicer enters
such agreement) by any related Primary Insurance Policy. The related 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. No Master Servicer shall enter into any substitution or
assumption with respect to a related Mortgage Loan if such substitution or
assumption shall (i) both constitute a "significant modification" effecting an
exchange or reissuance of such Mortgage Loan under the Code (or Treasury
regulations promulgated thereunder) and cause the REMIC to fail to qualify as a
REMIC under the REMIC Provisions or (ii) cause the imposition of any tax on
"prohibited transactions" or "contributions" after the Startup Day under the
REMIC Provisions. The applicable 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, no Master Servicer shall 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 such Master Servicer
may be restricted by law from preventing, for any reason whatsoever.
Section 3.09. REALIZATION UPON DEFAULTED MORTGAGE LOANS. Each 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 related 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 related 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 related 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 such Master Servicer determines that it would be imprudent to do so. In
connection with such foreclosure or other conversion, the related 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 related
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 such Master Servicer, (i) that such restoration will increase the proceeds of
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 related 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
83
<PAGE>
(as well as its normal servicing compensation) as an advance. Each 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. Each Master Servicer shall
report such information to the Internal Revenue Service, the Certificate
Administrator and the Mortgagor in the manner required by applicable law.
The Master Servicers may jointly enter into a special servicing agreement
with an unaffiliated holder of 100% Percentage Interest of a Class of Class B
Certificates or a holder of a class of securities representing interests in the
Class B Certificates and/or other subordinated mortgage pass-through
certificates, subject to each Rating Agency's acknowledgment that the ratings of
the Certificates in effect immediately prior to the entering into of such
agreement would not be qualified, downgraded or withdrawn and the Certificates
would not be placed on credit review status (except for possible upgrading) as a
result of such agreement. Any such agreement may contain provisions whereby
such holder may instruct the Master Servicers to instruct a Servicer to the
extent provided in the applicable Selling and Servicing Contract to commence or
delay foreclosure proceedings with respect to delinquent Mortgage Loans and will
contain provisions for the deposit of cash by the holder that would be available
for distribution to Certificateholders if Liquidation Proceeds are less than
they otherwise may have been had the Servicer acted in accordance with its
normal procedures.
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 related Master Servicer within two years after its
acquisition by such Master Servicer for the Trust Fund, unless such Master
Servicer provides to the Trustee 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 Trust Fund as defined in Section 860F of the Code or cause
the Trust Fund to fail to qualify as a REMIC at any time that any Certificates
are outstanding. The related Master Servicer shall manage, conserve, protect and
operate each such property for the Certificateholders 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 the 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 related
Master Servicer shall either itself or through an agent selected by such 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, rent the same, or any part thereof, as such Master Servicer
deems to be in the best interest of such Master Servicer and the
Certificateholders for the period prior to the sale of such property.
Additionally, the related 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
84
<PAGE>
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 Certificate
Administrator shall comply with all federal withholding requirements with
respect to payments to Certificateholders of interest or original issue
discount that the Certificate Administrator reasonably believes are
applicable under the Code. The consent of Certificateholders shall not be
required for any such withholding. Without limiting the foregoing, the
Certificate Administrator 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 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 related Master Servicer
shall cause such final payment to be immediately deposited in the related
Custodial Account for P&I or the related Investment Account. Upon notice
thereof, the related 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 related Master
Servicer or the applicable Servicer indicated in such request. With any such
Payoff or other final payment, the related 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 related Master Servicer to the person or persons entitled thereto. No
expenses incurred in connection with such satisfaction or assignment shall be
payable to the related Master Servicer by the Trustee or from the Certificate
Account, the related 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 related 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 related Master Servicer or the related Servicer
as indicated by the related Master Servicer and shall execute such documents as
shall be necessary to the prosecution of any such proceedings. Such trust
receipt shall obligate the related Master Servicer to return the Mortgage File
to the Trustee when the need therefor by the related 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 related
Master Servicer.
85
<PAGE>
Section 3.11. COMPENSATION TO THE CERTIFICATE ADMINISTRATOR, MASTER
SERVICERS AND THE SERVICERS. As compensation for its activities hereunder, each
Master Servicer shall be entitled to receive from its Investment Account the
amounts provided for by Section 3.05(a)(iii). Each Master Servicer shall be
required to pay all expenses incurred by it in connection with its activities
hereunder and shall not be entitled to reimbursement therefor, except as
specifically provided herein.
As compensation for its activities under the applicable Selling and
Servicing Contract, the applicable Servicer shall be entitled to withhold or
withdraw from the related Custodial Account for P&I the amounts provided for in
such Selling and Servicing Contract. Each Servicer is required to pay all
expenses incurred by it in connection with its servicing activities under its
Selling and 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 Selling and Servicing Contract
and not inconsistent with this Agreement.
The Trustee or the Certificate Administrator shall withdraw from the
Certificate Account the amounts provided for by Section 3.05(c) and (e) and, in
the case of the Trustee, shall pay such amounts to the Certificate
Administrator. Such amounts shall be compensation for the activities of the
Certificate Administrator hereunder. The Certificate Administrator shall be
required to pay all expenses incurred by it in connection with its activities
hereunder, including the Trustee's fees and expenses (pursuant to Section 8.05)
and shall not be entitled to reimbursement therefor, except as specifically
provided herein.
Section 3.12. REPORTS TO THE TRUSTEE; CERTIFICATE ACCOUNT STATEMENT. Not
later than 15 days after each Distribution Date, each Master Servicer shall
forward to the Certificate Administrator a Master Servicer's Section 3.12 Report
setting forth certain information with respect to the Mortgage Loans serviced by
such Master Servicer. The Certificate Administrator shall, within five (5) days
after its receipt of such statements, and based on the information set forth in
such Master Servicers' Section 3.12 Reports, deliver a Certificate Account
Statement, certified by a Servicing Officer, to the Trustee. The Certificate
Account Statement shall set forth the status of the Certificate Account as of
the close of business on such Distribution Date and show, 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 state that all
distributions required by this Agreement have been made (or if any required
distribution has not been made, specify the nature and amount thereof). The
Trustee shall provide such statements to any Certificateholder upon request at
the expense of the Certificate Administrator. Such statement 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.
86
<PAGE>
Section 3.13. ANNUAL STATEMENT AS TO COMPLIANCE. Each Master Servicer
shall deliver to the Trustee, 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 such 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, such Master 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 related 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 such Master Servicer, should such
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, each 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 related
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 such Mortgage Loans to the Trustee and its representatives, such
access being afforded without charge, but only upon reasonable request and
during normal business hours at the offices of the related 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, each Master Servicer, at
its expense, shall cause a firm of independent public accountants to furnish
a statement to the Trustee to the effect that, in connection with the firm's
examination of such Master Servicer's financial statements as of the previous
December 31, nothing came to their attention that indicated that such 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. [RESERVED.]
Section 3.17. [RESERVED.]
Section 3.18. [RESERVED.]
Section 3.19. [RESERVED.]
Section 3.20. [RESERVED.]
Section 3.21. ASSUMPTION OR TERMINATION OF SELLING AND SERVICING CONTRACTS
BY TRUSTEE. In the event a Master Servicer, or any successor Master Servicer,
shall for any reason no longer be a 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 such Master Servicer under
the Selling and Servicing Contracts with respect to the related Mortgage Loans
unless the
87
<PAGE>
Trustee elects to terminate the Selling and Servicing Contracts with respect
to such Mortgage Loans 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 such Master Servicer's interest therein with respect to the
related Mortgage Loans and to have replaced such Master Servicer as a party
to the Selling and Servicing Contracts to the same extent as if the rights
and duties under the Selling and Servicing Contracts relating to such
Mortgage Loans had been assigned to the assuming party, except that the
applicable Master Servicer shall not thereby be relieved of any liability or
obligations under the Selling and Servicing Contracts with respect to such
Master Servicer's duties to be performed prior to its termination hereunder.
The applicable Master Servicer at its expense shall, upon request of the
Trustee, deliver to the assuming party all documents and records relating to
the Selling and Servicing Contracts and the related Mortgage Loans then being
master serviced by such Master Servicer and an accounting of amounts
collected and held by such Master Servicer and otherwise use its best efforts
to effect the orderly and efficient transfer of the rights and duties under
the related Selling and Servicing Contracts relating to such 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, the Trustee (or any duly appointed paying
agent) shall (i) withdraw from the Certificate Account the Available
Distribution Amount for such Distribution Date and shall distribute, from the
amount so withdrawn, to the extent of the Available Distribution Amount, the
Certificate Distribution Amount, and (ii) distribute Excess Liquidation
Proceeds to the Class R Certificateholders, in accordance with written
statements received from the Certificate Administrator 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.
(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 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 and Liquidation Proceeds received and
expected to be received during the applicable Prepayment Period, the Certificate
Administrator has notified the
88
<PAGE>
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 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. Not later than three (3)
days prior to each Distribution Date, each Master Servicer shall forward to the
Certificate Administrator a Master Servicer's Section 4.02 Report setting forth
certain information with respect to the Mortgage Loans serviced by such Master
Servicer. With each distribution from the Certificate Account on a Distribution
Date, the Certificate Administrator shall, based on the information set forth in
such Master Servicers' Section 4.02 Reports, prepare and forward to the Trustee
(and to the Company if the Company is no longer acting as Certificate
Administrator), and the Trustee shall forward to each Certificateholder, a
statement 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 or the Trustee, the Certificate
Administrator shall forward to such Certificateholder, the Trustee and the
Company (if the Company is no longer acting as Certificate Administrator) an
additional report which sets forth with respect to the Mortgage Loans:
(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 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;
(c) The amount of Group I Special Hazard Coverage, Group II
Special Hazard Coverage and Group III Special Hazard Coverage
available to the Senior Certificates remaining as of the close of
business on the applicable Determination Date;
(d) The amount of Group I Bankruptcy Coverage, Group II
Bankruptcy Coverage and Group III Bankruptcy Coverage available to the
Senior Certificates remaining as of the close of business on the
applicable Determination Date;
89
<PAGE>
(e) The amount of Group I Fraud Coverage, Group II Fraud
Coverage and Group III Fraud Coverage available to the Senior
Certificates remaining as of the close of business on the applicable
Determination Date; and
(f) The amount of Realized Losses incurred in respect of each
Loan Group allocable to the Certificates on the related Distribution
Date and the cumulative amount of Realized Losses incurred in respect
of each Loan Group allocated to such Certificates since the Cut-Off
Date.
Upon request by any Certificateholder, the Certificate Administrator, as
soon as reasonably practicable, shall provide the requesting Certificateholder
with such information as is necessary and appropriate, in the Certificate
Administrator's sole discretion, for purposes of satisfying applicable reporting
requirements under Rule 144A of the Securities Act.
Section 4.03. ADVANCES BY THE MASTER SERVICERS; DISTRIBUTION REPORTS TO
THE TRUSTEE.
(a) To the extent described below, each 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 Mortgage Loans master
serviced by such Master Servicer, and (ii) the amounts actually deposited in the
Certificate Account on account of such payments. Each 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
such 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, each Master Servicer shall determine whether or not it
will make a Monthly P&I Advance on the 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 Certificate Administrator, the
Trustee, the Paying Agent, if any, and to any Certificateholder requesting the
same, setting forth the aggregate amount to be distributed on the next
succeeding Distribution Date on account of principal and interest in respect of
the Mortgage Loans master serviced by such Master Servicer, stated separately.
In the event that full scheduled amounts of principal and interest in respect of
the related Mortgage Loans shall not have been received by or on behalf of the
related Master Servicer prior to such Determination Date and such Master
Servicer shall have determined that a Monthly P&I Advance shall be made in
accordance with this Section 4.03, such Master Servicer shall so specify and
shall specify the aggregate amount of such advance.
In the event that a Master Servicer shall be required to make a Monthly
P&I Advance, it shall on the 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) direct the Certificate Administrator to 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 such 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 related Master Servicer by deposit in the Certificate Account
on the Business Day immediately
90
<PAGE>
preceding any future Distribution Date to the extent that funds in the
Certificate Account on such Distribution Date with respect to the related
Mortgage Loans shall be less than payments to Certificateholders required to
be made on such date with respect to such Mortgage Loans. Under each Selling
and Servicing Contract, such Master Servicer is entitled to receive from the
Custodial Accounts for P&I established by the Servicers under its supervision
amounts received by the such Servicers on particular Mortgage Loans as late
payments of principal and interest or as Liquidation or Insurance Proceeds
and respecting which such Master Servicer has made an unreimbursed advance of
principal and interest. Each Master Servicer is also entitled to receive
other amounts from the related Custodial Accounts for P&I established by the
Servicers under its supervision to reimburse such Master Servicer for prior
Nonrecoverable Advances respecting related Mortgage Loans serviced by the
such Servicers. Each Master Servicer shall deposit these amounts in its
Investment Account prior to withdrawal pursuant to Section 3.05.
In accordance with Section 3.05, Monthly P&I Advances are reimbursable
to each Master Servicer from cash in its Investment Account to the extent
that such 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 Business Day prior to
each Distribution Date, the Certificate Administrator shall provide the
Trustee with a statement regarding 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 a
Servicer pursuant to its Selling and Servicing Contract with respect to a
Mortgage Loan or by the related Master Servicer that such Master Servicer
shall determine in its good faith judgment not to be ultimately recoverable
from Insurance Proceeds or Liquidation Proceeds or otherwise with respect to
such Mortgage Loan or recoverable as late Monthly Payments with respect to
such Mortgage Loan shall be a Nonrecoverable Advance. The determination by a
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 such 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 either Master Servicer
is a party, (a) the Company, each 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, such Master Servicer, or
such Servicer shall determine would be a Nonrecoverable Advance, and (b) the
Company, each Master Servicer, and each Servicer shall be entitled to
reimbursement for any advance as provided in Section 3.05(a)(i), (ii) and
(iv) of this Agreement.
91
<PAGE>
ARTICLE V
THE CERTIFICATES
Section 5.01. THE CERTIFICATES.
(a) The Regular Interest Certificates and the Residual Certificates
shall be substantially in the forms set forth in Exhibits A, B and C 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.
(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 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:
92
<PAGE>
(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.
(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
93
<PAGE>
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 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; and
94
<PAGE>
(B) an Opinion of Counsel, in form and substance satisfactory to
the Company (as evidenced by a certificate of the Company), 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
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 REMIC.
95
<PAGE>
(d) In the case of any Class II-A-9, Class B or Class R Certificate
presented for registration in the name of 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, the Trustee
shall require (i) an Opinion of Counsel acceptable to and in form and
substance satisfactory to the Trustee and the Company to the effect that the
purchase or holding of a Class II-A-9, Class B or Class 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 Certificate Administrator
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 Certificate Administrator or the
Company or (ii) only in the case of a Class II-A-9 or Class B Certificate, an
officer's certificate acceptable to and in form and substance satisfactory to
the Trustee and the Company to the effect that the transferee is an insurance
company, the source of funds to be used by it to purchase a Class II-A-9 or
Class B Certificate is an "insurance company general account" (within the
meaning of Department of Labor Prohibited Transaction Class Exemption
("PTCE") 95-60), and the purchase is being made in reliance upon the
availability of the exemptive relief afforded under Sections I and III of
PTCE 95-60, which officer's certificate shall not be an expense of the
Trustee, the Certificate Administrator or the Company.
(e) No transfer, sale, pledge or other disposition of a Junior
Subordinate 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 in any
Junior Subordinate 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 Junior Subordinate 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. Notwithstanding
the foregoing, any Class of Junior Subordinate Certificate may be
transferred, sold, pledged or otherwise disposed of in accordance with the
requirements set forth in Section 5.01(f).
96
<PAGE>
(f) Transfers of the Junior Subordinate Certificates may be made in
accordance with this Section 5.01(f). 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
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 Principal 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 Certificate
Administrator and each 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
97
<PAGE>
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 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 Certificate
Administrator, each Master Servicer, the Trustee 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 Section 4.05 and for all other purposes whatsoever, and
neither the Company, the Certificate Administrator, the Master Servicers, the
Trustee, the Certificate Registrar nor any agent of the Company, the
Certificate Administrator, the Master Servicers 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, B and C 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
98
<PAGE>
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 Certificate Administrator. 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 Company. 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) the Certificate Administrator 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) 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
99
<PAGE>
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 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 Certificate
Administrator 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 Certificate Administrator is unable to locate a qualified
successor, (b) the Certificate Administrator, 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 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, Certificate Administrator 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: Glenn Anderson, is initially designated for said purposes.
100
<PAGE>
ARTICLE VI
THE COMPANY, THE MASTER SERVICERS AND THE CERTIFICATE ADMINISTRATOR
Section 6.01. LIABILITY OF THE COMPANY, THE MASTER SERVICERS AND THE
CERTIFICATE ADMINISTRATOR. The Company, the Master Servicers and the
Certificate Administrator shall be liable in accordance herewith only to the
extent of the obligations specifically imposed upon and undertaken by the
Company, the Master Servicers or the Certificate Administrator, as
applicable, herein.
Section 6.02. MERGER OR CONSOLIDATION OF THE COMPANY, A MASTER SERVICER
OR THE CERTIFICATE ADMINISTRATOR. Any corporation into which the Company, a
Master Servicer or the Certificate Administrator may be merged or
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Company, a Master Servicer or the Certificate
Administrator shall be a party, or any corporation succeeding to the business
of the Company, a Master Servicer or the Certificate Administrator shall be
the successor of the Company, such Master Servicer or the Certificate
Administrator 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
SERVICERS, THE CERTIFICATE ADMINISTRATOR AND OTHERS. None of the Company, the
Master Servicers, the Certificate Administrator or any of the directors,
officers, employees or agents of the Company, the Master Servicers or the
Certificate Administrator 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 Servicers, the Certificate Administrator or any such Person against
any liability which would otherwise be imposed by reason of willful
misfeasance, bad faith or gross negligence in the performance of duties or by
reason of reckless disregard of duties and obligations hereunder. The
Company, the Master Servicers, the Certificate Administrator and any
director, officer, employee or agent of the Company, the Master Servicers and
the Certificate Administrator 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 Servicers, the Certificate
Administrator and any director, officer, employee or agent of the Company,
the Master Servicers and the Certificate Administrator 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 gross negligence in
the performance of duties hereunder or by reason of reckless disregard of
obligations and duties hereunder. The Company, the Master Servicers and the
Certificate Administrator 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, each Master Servicer or the Certificate Administrator 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
101
<PAGE>
action and any liability resulting therefrom shall be expenses, costs and
liabilities of the Trust Fund and the Company, each Master Servicer and the
Certificate Administrator shall be entitled to be reimbursed therefor out of
the Certificate Account, as provided by Section 3.05.
Section 6.04. THE COMPANY, EACH MASTER SERVICER AND THE CERTIFICATE
ADMINISTRATOR NOT TO RESIGN. None of the Company, the Master Servicers or the
Certificate Administrator shall 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 successor to the Company, either
Master Servicer or the Certificate Administrator 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, a Master Servicer or
the Certificate Administrator or any successor to the Company, a Master
Servicer or the Certificate Administrator shall be evidenced by an Opinion of
Counsel to such effect delivered to the Trustee. No such resignation shall
become effective until the Trustee or the successor to the Company, a Master
Servicer or the Certificate Administrator shall have assumed the resigning
party's responsibilities and obligations in accordance with Section 7.02
hereof.
Each successor to a resigning 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 a Master Servicer or by a successor Master
Servicer shall occur and be continuing, that is to say:
(i) Any failure by a Master Servicer to deposit into the
Certificate Account any amount required to be deposited therein by such
Master Servicer under the terms of this Agreement which continues
unremedied for a period of ten days after the date upon which written
notice of such failure, requiring the same to be remedied, shall have been
given to such Master Servicer by the Trustee or to such Master Servicer and
the Trustee by the Holders of Certificates evidencing Percentage Interests
aggregating not less than 25% of the Trust Fund; or
(ii) Failure on the part of a Master Servicer duly to observe or
perform in any material respect any other of the covenants or agreements on
the part of such 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 such Master Servicer by the Trustee, or to such
Master Servicer and the Trustee by 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,
102
<PAGE>
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 a Master Servicer and such decree or order shall
have remained in force undischarged or unstayed for a period of 60 days; or
(iv) A 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 such Master Servicer
or of or relating to all or substantially all of its property; or
(v) A 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; or
(vi) Any failure of a 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;
then, and in each and every such case, so long as an Event of Default shall
not have been remedied by such Master Servicer, either the Trustee, or the
Holders of Certificates evidencing Percentage Interests aggregating not less
than 25% of the Trust Fund, by notice in writing to the Company and the
Defaulting 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
Defaulting Master Servicer, including its right to the related Master
Servicing Fee, under this Agreement and in and to the applicable Mortgage
Loans and the proceeds thereof, if any. Such determination shall be final and
binding. On or after the receipt by the Defaulting Master Servicer of such
written notice, all authority and power of the Defaulting Master Servicer
under this Agreement, whether with respect to the Certificates or the
Mortgage Loans master serviced by it 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 the Defaulting 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. Each Master Servicer agrees to cooperate with the Trustee in
effecting the termination of the Defaulting 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 Defaulting 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 Defaulting Master Servicer, which may be delivered by telecopy,
immediately suspend all of the rights and
103
<PAGE>
obligations of the Defaulting 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 Defaulting 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 Defaulting 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 Defaulting Master
Servicer was an Event of Default described in clause (vi) of this Section
7.01(a), the Trustee shall permit the Defaulting Master Servicer to resume
its rights and obligations as Master Servicer hereunder. The Defaulting
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). Each 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 such Master Servicer to
resume its rights and obligations as Master Servicer hereunder.
(b) 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 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, 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, the Holders of Certificates evidencing Percentage
Interests aggregating not less than 25% of the Trust Fund, by notice in
writing to the Company and the Trustee, may direct the Trustee
104
<PAGE>
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.
(c) In case one or more of the following Events of Default by the
Certificate Administrator shall occur and be continuing, that is to say:
(i) Any failure by the Certificate Administrator to make any
payment required to be made under the terms of the Certificates and this
Agreement which continues unremedied for a period of ten days after the
date upon which written notice of such failure, requiring the same to be
remedied, shall have been given to the Certificate Administrator by the
Trustee or to the Certificate Administrator and the Trustee by the Holders
of Certificates evidencing Percentage Interests aggregating not less than
25% of the Trust Fund;
(ii) Failure on the part of the Certificate Administrator duly
to observe or perform in any material respect any of the covenants or
agreements on the part of the Certificate Administrator 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 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 Certificate Administrator
and such decree or order shall have remained in force undischarged or
unstayed for a period of 60 days; or
(iv) The Certificate Administrator 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
Certificate Administrator or of or relating to all or substantially all of
its property; or
(v) The Certificate Administrator 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 an Event of Default shall
not have been remedied by the Certificate Administrator, either the Trustee,
or the Holders of Certificates evidencing Percentage Interests aggregating
not less than 25% of the Trust Fund, by notice in writing to the Company and
the Certificate Administrator (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
and obligations of the Certificate Administrator, including its right to the
Certificate Administrator
105
<PAGE>
Fee under this Agreement. Such determination shall be final and binding. On
or after the receipt by the Certificate Administrator of such written notice,
all authority and power of the Certificate Administrator under this
Agreement, whether with respect to the Certificates or the Mortgage Loans
master serviced by it or otherwise, shall pass to and be vested in the
Trustee pursuant to and under this Section 7.01(c); and, without limitation,
the Trustee is hereby authorized and empowered to execute and deliver, on
behalf of the Certificate Administrator, 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
Certificate Administrator agrees to cooperate with the Trustee in effecting
the termination of the Certificate Administrator's responsibilities and
rights hereunder.
(d) In any circumstances in which this Agreement states that
Certificateholders owning Certificates evidencing a certain percentage
Percentage Interest in the Trust Fund may take certain action, such action
shall be taken by the Trustee, but only if 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. (a) On and
after the time a Defaulting Master Servicer receives a notice of termination
pursuant to Section 7.01(a), the Trustee shall be the successor in all
respects to the Defaulting Master Servicer under this Agreement and under the
Selling and Servicing Contracts with respect to the Mortgage Loans 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 Defaulting Master Servicer
receives such notice of termination placed on the Defaulting Master Servicer
by the terms and provisions hereof and thereof, and shall have the same
limitations on liability herein granted to the Defaulting 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 Defaulting Master Servicer at or
prior to the time the Defaulting Master Servicer was terminated as Master
Servicer and the Trustee shall not be obligated to make a 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 Defaulting Master Servicer would have been entitled to retain or to
withdraw from the Certificate Account if the Defaulting Master Servicer had
continued to act hereunder, except for those amounts due to the Defaulting
Master Servicer as reimbursement for advances previously made or amounts
previously expended and are otherwise reimbursable hereunder. Notwithstanding
the above, the Trustee 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 as the successor to the
Defaulting Master Servicer hereunder in the assumption of all or any part of
the responsibilities, duties or liabilities of the Defaulting 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 Defaulting 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.
106
<PAGE>
(b) On and after the time a Certificate Administrator receives a notice
of termination pursuant to Section 7.01(c), the Trustee shall be the
successor in all respects to the Certificate Administrator under this
Agreement 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
Certificate Administrator receives such notice of termination placed on the
Certificate Administrator by the terms and provisions hereof and thereof, and
shall have the same limitations on liability herein granted to the
Certificate Administrator; 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
Certificate Administrator at or prior to the time the Certificate
Administrator was terminated. As compensation therefor, the Trustee shall be
entitled to all funds relating to the Mortgage Loans which the Certificate
Administrator would have been entitled to retain or to withdraw from the
Certificate Account if the Certificate Administrator had continued to act
hereunder, except for those amounts due to the Certificate Administrator as
amounts previously expended and otherwise reimbursable hereunder.
Notwithstanding the above, the Trustee 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 as the successor
to the Certificate Administrator hereunder in the assumption of all or any
part of the responsibilities, duties or liabilities of the Certificate
Administrator 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
Certificate Administrator 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 Defaulting Master Servicer
or Certificate Administrator, the Trustee shall give prompt written notice
thereof to 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.
107
<PAGE>
(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 Certificate Administrator or a Master Servicer to the
Trustee pursuant to this Agreement.
(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 ten days after the occurrence of any Event of Default known
to the Trustee, the Trustee shall transmit by mail to the Rating Agency
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 or to the Rating Agency 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;
108
<PAGE>
(ii) The Trustee may consult with counsel and any Opinion of
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 Servicers, the Servicers, the Certificate Administrator or
the Company in respect of the Mortgage Loans or deposited into the Custodial
Accounts for P&I, any Buydown Fund Account, or the Custodial Accounts for P&I
by any Servicer or into the Investment Accounts, or the Certificate Account
by the Master Servicers, the Certificate Administrator or the Company.
109
<PAGE>
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 CERTIFICATE ADMINISTRATOR TO PAY TRUSTEE'S FEES AND
EXPENSES. Subject to any separate written agreement with the Trustee, the
Certificate Administrator covenants and agrees to, and the Certificate
Administrator 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 Certificate Administrator 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 Company 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. 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 trusts hereby created by giving
written notice thereof to the Certificate Administrator. Upon receiving such
notice of resignation, the Certificate Administrator 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 Certificate Administrator, or if at any time the Trustee
shall become incapable of acting, or shall be adjudged 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
110
<PAGE>
rehabilitation, conservation or liquidation, then the Certificate
Administrator 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.
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
Certificate Administrator and each 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. Any expenses associated with the resignation of the Trustee
shall be borne by the Trustee, and any expenses associated with the removal
of the Trustee shall be borne by the Certificate Administrator.
Section 8.08. SUCCESSOR TRUSTEE. Any successor trustee appointed as
provided in Section 8.07 shall execute, acknowledge and deliver to the
Certificate Administrator and each 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 Certificate Administrator, each 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 Certificate Administrator shall mail notice of the
succession of such trustee hereunder to (i) all Certificateholders at their
addresses as shown in the Certificate Register and (ii) the Rating Agency. If
the Certificate Administrator 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 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.
111
<PAGE>
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 Certificate Administrator and the
Trustee acting jointly 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 Certificate
Administrator 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 Certificate Administrator 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 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 Certificate
Administrator 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 trusts 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.
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.
112
<PAGE>
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
Certificate Administrator 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 and to the Certificate Administrator. The
Trustee may, upon prior written approval of the Certificate Administrator, at
any time terminate the agency of any Authenticating Agent by giving written
notice of termination to such Authenticating Agent and to the Certificate
Administrator. 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
Certificate Administrator, a successor Authenticating Agent, shall give
written notice of such appointment to the Certificate Administrator 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 Certificate Account, and distributions to
Certificateholders as provided in Section 4.01(a), Section 4.05(a) and
Section 9.01(b) to the extent directed to do so by the Certificate
Administrator. 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 such information concerning the Certificate Account as the
Trustee shall request from time to time. Each Paying Agent must be reasonably
acceptable to the Certificate Administrator 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
113
<PAGE>
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 Certificate Administrator; provided,
that the Paying Agent has returned to the Certificate Account or otherwise
accounted, to the reasonable satisfaction of the Certificate Administrator,
for all amounts it has withdrawn from the Certificate Account. The Trustee
may, upon prior written approval of the Certificate Administrator, at any
time terminate the agency of any Paying Agent by giving written notice of
termination to such Paying Agent and to the Certificate Administrator. 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 Certificate Administrator, a
successor Paying Agent, shall give written notice of such appointment to the
Certificate Administrator 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.
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 Servicers to make payments
to Certificateholders as hereafter set forth, the respective obligations and
responsibilities of the Company, the Master Servicers and the Trustee created
hereby shall terminate upon (i) the repurchase by the Company pursuant to the
following paragraph of this Section 9.01(a) of all Mortgage Loans and all
property acquired in respect of any Mortgage Loan 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 such
Mortgage Loans (other than Liquidated Mortgage Loans) plus accrued interest
at the applicable Pass-Through Rate 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 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
114
<PAGE>
previously reduced by such Bankruptcy Loss, and (y) the appraised fair market
value as of the effective date of the termination of the trust created hereby
of (A) all property in the Trust Fund which secured a Mortgage Loan 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, any such appraisal to be conducted by an appraiser mutually
agreed upon by the Company 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 remaining in the Trust Fund or the disposition of all
property acquired upon foreclosure in respect of any Mortgage Loan, and the
payment to Certificateholders of all amounts required to be paid to them
hereunder; provided, however, that in no event shall the trusts 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 and any
Mortgaged Properties acquired by the Trust Fund at the price stated in clause
(i) of the preceding paragraph provided that the aggregate Principal Balance
of the Mortgage Loans at the time of any such repurchase aggregates less than
ten percent of the aggregate Principal Balance of the Mortgage Loans as of
the Cut-Off Date. If such right is exercised, the Company shall provide to
the Trustee (and to the Master Servicers 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 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 and any foreclosed Mortgaged
Property 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 under this
Section 9.01.
(b) Notice of any termination, specifying the date upon which the
Certificateholders may surrender their Certificates to the Trustee for
payment and cancellation, shall be given promptly by letter from the Trustee
to 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. Upon any such notice, the
Certificate Account shall terminate subject to the Master Servicers'
obligation to hold all amounts payable to Certificateholders in trust without
interest pending such payment.
In the event that all of the Certificateholders shall not surrender
their Certificates for cancellation within six months after the Termination
Date, the Company 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 hereunder.
115
<PAGE>
Section 9.02. ADDITIONAL TERMINATION REQUIREMENTS.
(a) In the event the Company repurchases the Mortgage Loans and
exercises its purchase option as provided in Section 9.01, the Trust Fund
shall be terminated in accordance with the following additional requirements,
unless the Company, at its own expense, obtains for the Trustee 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 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:
(A) Within 90 days prior to the final Distribution Date 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 obtained at the expense of the Company, on behalf of the
Trust Fund; and
(B) At or after the time of adoption of such a plan of complete
liquidation and at or prior to the final Distribution Date, the Certificate
Administrator, 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 Certificate Administrator 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 Class R 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 Certificate
Administrator, the Master Servicers, the Company and the Trustee, without the
consent of any of the Certificateholders, (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
116
<PAGE>
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 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
Certificate Administrator, the Master Servicers, the Company and the Trustee
with the consent of 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 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 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.
117
<PAGE>
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 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.
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.
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
118
<PAGE>
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
each Master Servicer and the Trustee that neither the Master Servicers 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 IndyMac, Inc., 155 North Lake
Avenue, Pasadena, California 91101, Attention: Master Serving Department or such
other address as may hereafter be furnished to the Trustee in writing by
IndyMac, (c) in the case of the Trustee, at its Corporate Trust Office, or such
other address as may hereafter be furnished to each Master Servicer in writing
by the Trustee, (d) 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, (e) in the case of Fitch, One State
Street Plaza, New York, New York 10004, or such other address as may hereafter
be furnished to the Trustee and Master Servicers in writing by Fitch, (f) 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 Servicers in writing by S&P and (g) in the case of DCR, 55 E. Monroe
Street, 38th Floor, Chicago, Illinois 60603, Attention: Residential Mortgages,
or such other address as may hereafter be furnished to the Trustee and Master
Servicers in writing by DCR. 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 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.
119
<PAGE>
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 and the Certificateholders, any
benefit or any legal or equitable right, remedy or claim under this Agreement.
Section 10.10. NOTICES AND COPIES TO RATING AGENCY.
(a) The Trustee shall notify the Rating Agency 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 Certificate Administrator shall notify the Rating Agency of the
occurrence of any of the following events, or in the case of clauses (iii),
(iv), (vii) and (viii) promptly upon receiving notice thereof, 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 a Master Servicer
or any Servicer;
(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 a Master Servicer to make a Monthly P&I
Advance following a determination on the Determination Date that such
Master Servicer would make such advance pursuant to Section 4.03; and
120
<PAGE>
(viii) the failure of a 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.
(c) The Certificate Administrator shall provide copies of the statements
pursuant to Section 4.02, Section 3.13 or Section 3.15 or any other statements,
and each Master Servicer shall provide copies of the reports or statements
pursuant to Section 4.02, Section 3.12, Section 3.13, Section 3.15 or any other
reports or statements to the Rating Agency 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 Certificate Administrator shall provide such reports to the Rating Agency in
respect of each Distribution Date, without regard to whether any
Certificateholder or the Trustee has requested such report for such Distribution
Date.
121
<PAGE>
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: /s/ Michael A. Aaknes
--------------------------
Michael A. Aaknes
Its: Assistant Vice President
INDYMAC, INC.
(SEAL)
By: /s/ Shannon Smith
-------------------------
Shannon Smith
Its: 1st V.P.
U.S. BANK NATIONAL ASSOCIATION, as Trustee
(SEAL)
No Corporate Seal
By: /s/ C. Hatfield
-------------------------
C. Hatfield
Its: VICE PRESIDENT
<PAGE>
ACKNOWLEDGEMENT OF CORPORATION
STATE OF ILLINOIS )
) SS.
COUNTY OF LAKE )
On this 25th day of November, 1997 before me, a Notary Public in
and for said State, personally appeared Michael A. Aaknes, known to me to be
the Assistant Vice President 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.
/s/ Julie A. Lucas
----------------------------
Notary Public
OFFICIAL SEAL
JULIE A. LUCAS
Notary Public, State of Illinois
My Commission Expires 11-5-99
(SEAL)
<PAGE>
CERTIFICATE OF ACKNOWLEDGEMENT
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
On this 25th day of November, 1997 before me, a Notary Public in and for
said State, personally appeared Shannon Smith, 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 /s/ Paulette Ronga (SEAL)
----------------------
PAULETTE RONGA
Commission #1154028
Notary Public-California
Los Angeles County
My Comm. Expires Aug. 31, 2001
<PAGE>
CERTIFICATE OF ACKNOWLEDGEMENT
STATE OF MINNESOTA )
) SS.
COUNTY OF RAMSEY )
On this 25th day of November, 1997 before me, a Notary Public in and for
said State, personally appeared C. Hatfield, 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. DEBORAH J. FRANCO
NOTARY PUBLIC - MINNESOTA
Signature /s/ Deborah J. Franco (SEAL) My Commission Expires Jan. 31, 2000
----------------------
<PAGE>
Exhibit A-1
CUSIP 69348L PK 9
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-A-1
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 November 25, 1997. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is 7.250% 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., 100% of the Basic 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 Basic 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 1997-8 Portion of the Class I-A-1
Principal Balance as of the
Class I-A-1 Remittance Rate: 7.250% Cut-Off Date evidenced by this
Certificate:
$
---------------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: January 25, 2028
Class I-A-1 Principal Balance as of the Cut-Off Date:
$363,549,230.00
----------------------
Registered Owner Certificate No. _
A-1-1
<PAGE>
Exhibit A-2
CUSIP 69348L PL 7
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-1
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 November
25, 1997. The rate at which interest is payable as of the Issue Date with
respect to this Certificate is 7.000% 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., 250% of the Basic 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 Basic 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 1997-8 Portion of the Class II-A-1
Principal Balance as of the
Cut-Off Date evidenced by this
Certificate:
Class II-A-1 Remittance Rate: 7.000% $
------------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-A-1 Principal Balance as of the Cut-Off Date:
$85,244,839.00
--------------------
Registered Owner Certificate No. __
A-2-1
<PAGE>
Exhibit A-3
CUSIP 69348L PM 5
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-2
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 November
25, 1997. The rate at which interest is payable as of the Issue Date with
respect to this Certificate is 7.000% 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., 250% of the Basic 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 Basic 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 1997-8 Portion of the Class II-A-2
Principal Balance as of the
Cut-Off Date evidenced by this
Certificate:
Class II-A-2 Remittance Rate: 7.000% $
------------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-A-2 Principal Balance as of the Cut-Off Date:
$72,411,708.00
--------------------
Registered Owner Certificate No. __
A-3-1
<PAGE>
Exhibit A-4
CUSIP 69348L PN 3
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-3
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 November 25, 1997. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is 7.000% 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., 250% of the Basic 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 Basic 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 1997-8 Portion of the Class II-A-3
Principal Balance as of the
Cut-Off Date evidenced by this
Certificate:
Class II-A-3 Remittance Rate: 7.000% $
------------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-A-3 Principal Balance as of the Cut-Off Date:
$65,563,632.00
--------------------
Registered Owner Certificate No. __
A-4-1
<PAGE>
Exhibit A-5
CUSIP 69348L PP 8
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-4
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 November 25, 1997. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is 7.000% 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., 250% of the Basic 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 Basic 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 1997-8 Portion of the Class II-A-4
Principal Balance as of the
Cut-Off Date evidenced by this
Certificate:
Class II-A-4 Remittance Rate: 7.000% $
-----------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-A-4 Principal Balance as of the Cut-Off Date:
$6,388,073.00
--------------------
Registered Owner Certificate No. __
A-5-1
<PAGE>
Exhibit A-6
CUSIP 69348L PQ 6
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-5
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 November 25, 1997. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is 7.000% 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., 250% of the Basic 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 Basic 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 1997-8 Portion of the Class II-A-5
Principal Balance as of the
Cut-Off Date evidenced by this
Certificate:
Class II-A-5 Remittance Rate: $
Based on the following two ------------------------------
Components:
(i) Component II-A-5-1 Remittance Rate: 7.000%
applied to the Component II-A-5-1 Principal Balance;
and
(ii) Component II-A-5-2 Remittance Rate: 7.000%
applied to the Component II-A-5-2 Principal Balance.
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-A-5 Principal Balance as of the Cut-Off Date:
$10,490,181.00
--------------------
Registered Owner Certificate No. __
A-6-1
<PAGE>
Exhibit A-7
CUSIP 69348L PR 4
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-6
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 November
25, 1997. The rate at which interest is payable as of the Issue Date with
respect to this Certificate is 7.000% 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., 250% of the Basic 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 Basic 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 1997-8 Portion of the Class II-A-6
Principal Balance as of the
Cut-Off Date evidenced by
this Certificate:
Class II-A-6 Remittance Rate: 7.000% $
--------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-A-6 Principal Balance as of the Cut-Off Date:
$555,413.00
----------------
Registered Owner Certificate No. _
A-7-1
<PAGE>
Exhibit A-8
CUSIP 69348L PS 2
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-7
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 November
25, 1997. The rate at which interest is payable as of the Issue Date with
respect to this Certificate is 7.000% 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., 250% of the Basic 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 Basic 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 1997-8 Portion of the Class II-A-7
Principal Balance as of the
Cut-Off Date evidenced by this
Certificate:
Class II-A-7 Remittance Rate: 7.000% $
------------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-A-7 Principal Balance as of the Cut-Off Date:
$7,425,000.00
----------------
Registered Owner Certificate No. _
A-9-1
<PAGE>
Exhibit A-9
CUSIP 69348L PT 0
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-8
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 November
25, 1997. The rate at which interest is payable as of the Issue Date with
respect to this Certificate is 7.000% 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., 250% of the Basic 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 Basic 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 1997-8 Portion of the Class II-A-8
Principal Balance as of the
Cut-Off Date evidenced by
this Certificate:
Class II-A-8 Remittance Rate: 7.000% $
--------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-A-8 Principal Balance as of the Cut-Off Date:
$59,639,823.00
----------------
Registered Owner Certificate No. _
A-9-1
<PAGE>
Exhibit A-10
CUSIP 69348L PU 7
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-9
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 November
25, 1997. The rate at which interest is payable as of the Issue Date with
respect to this Certificate is 7.000% 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., 250% of the Basic 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 Basic 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.]
IN THE CASE OF ANY CLASS II-A-9 CERTIFICATE PRESENTED FOR REGISTRATION IN THE
NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS II-A-9
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
Series 1997-8 Portion of the Class II-A-9
Principal Balance as of the
Cut-Off Date evidenced by
this Certificate:
Class II-A-9 Remittance Rate: 7.000% $
--------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-A-9 Principal Balance as of the Cut-Off Date:
$4,901,579.00
----------------
Registered Owner Certificate No. _
A-10-1
<PAGE>
Exhibit A-11
CUSIP 69348L QW 2
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-10
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 November
25, 1997. The rate at which interest is payable as of the Issue Date with
respect to this Certificate is 7.000% 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., 250% of the Basic 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 Basic 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 1997-8 Portion of the Class II-A-10
Principal Balance as of the
Cut-Off Date evidenced by
this Certificate:
Class II-A-10 Remittance Rate: 7.000% $
---------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-A-10 Principal Balance as of the Cut-Off Date:
$10,086,713.00
----------------
Registered Owner Certificate No. _
A-11-1
<PAGE>
Exhibit A-12
CUSIP 69348L PV 5
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-PT
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 November
25, 1997. The rate at which interest is payable as of the Issue Date with
respect to this Certificate is 6.750% 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., 235% of the Basic 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 Basic 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 1997-8 Portion of the Class III-PT
Principal Balance as of the
Cut-Off Date evidenced by
this Certificate:
Class III-PT: 6.750% $
--------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 26, 2012
Class III-PT Principal Balance as of the Cut-Off Date:
$100,539,062.00
----------------
Registered Owner Certificate No. _
A-12-1
<PAGE>
Exhibit A-13
CUSIP 69348L QA 0
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-P
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 November
25, 1997. Interest is not payable with respect to this Certificate. [Assuming
that the Mortgage Loans underlying the Certificates prepay at the prepayment
assumption used by the issuer in pricing this Certificate (I.E., 100% of the
Basic 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 Basic Prepayment
Rate or any other rate.]
Series 1997-8 Portion of the Class I-P
Principal Balance as of
the Cut-Off Date evidenced
by this Certificate:
Class I-P Remittance Rate: 0.00% $
-------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: January 25, 2028
Class I-P Principal Balance as of the Cut-Off Date:
$136,352.14
----------------
Registered Owner Certificate No. _
A-13-1
<PAGE>
Exhibit A-14
CUSIP 69348L QB 8
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-P
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 November
25, 1997. Interest is not payable with respect to this Certificate. [Assuming
that the Mortgage Loans underlying the Certificates prepay at the prepayment
assumption used by the issuer in pricing this Certificate (I.E., 250% of the
Basic 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 Basic Prepayment
Rate or any other rate.]
Series 1997-8 Portion of the Class II-P
Principal Balance as of the
Cut-Off Date evidenced by
this Certificate:
Class II-P Remittance Rate: 0.00% $
-------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-P Principal Balance as of the Cut-Off Date:
$140,364.76
----------------
Registered Owner Certificate No. _
A-14-1
<PAGE>
Exhibit A-15
CUSIP 69348L QC 6
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-P
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 November
25, 1997. Interest is not payable with respect to this Certificate. [Assuming
that the Mortgage Loans underlying the Certificates prepay at the prepayment
assumption used by the issuer in pricing this Certificate (I.E., 235% of the
Basic 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 Basic Prepayment
Rate or any other rate.]
Series 1997-8 Portion of the Class III-P
Principal Balance as of the
Cut-Off Date evidenced by
this Certificate:
Class III-P Remittance Rate: 0.00% $
--------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 26, 2012
Class III-P Principal Balance as of the Cut-Off Date:
$201,782.40
----------------
Registered Owner Certificate No. _
A-15-1
<PAGE>
Exhibit A-16
CUSIP 69348L PW 3
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-X-1
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 November
25, 1997. The rate at which interest is payable as of the Issue Date with
respect to this Certificate is 5.250% 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., 100% of the Basic 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 Basic Prepayment Rate or any other
rate.]
Series 1997-8 Portion of the Class I-X-1
Notional Amount as of the
Cut-Off Date evidenced by
this Certificate:
Class I-X-1 Remittance Rate: From $
the 25th of each month to the --------------------------
24th of the succeeding month, a
per annum rate equal to four
multiplied by LIBOR minus
17.500%, subject to a minimum and
maximum Remittance Rate of 0.000%
and 14.500% per annum
respectively, applied to the
Class I-X-1 Notional Amount
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: January 25, 2028
Class I-X-1 Principal Balance as of the Cut-Off Date:
$0.00
Class I-X-1 Notional Amount as of the Cut-Off Date:
$21,870,749.23
----------------
Registered Owner Certificate No. _
A-16-1
<PAGE>
Exhibit A-17
CUSIP 69348L PX 1
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-X-2
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 November
25, 1997. The rate at which interest is payable as of the Issue Date with
respect to this Certificate is 9.250% 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., 100% of the Basic 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 Basic Prepayment Rate or any other rate.]
Series 1997-8 Portion of the Class I-X-2 Notional
Amount as of the Cut-Off Date
evidenced by this Certificate:
Class I-X-2 Remittance Rate: From $
the 25th of each month to the -----------------------------
24th of the succeeding month, a
per annum rate equal to 32.000%
minus four multiplied by LIBOR,
subject to a minimum and maximum
Remittance Rate of 0.000% and
14.500% per annum respectively,
applied to the Class I-X-2
Notional Amount
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: January 25, 2028
Class I-X-2 Principal Balance as of the Cut-Off Date:
$0.00
Class I-X-2 Notional Amount as of the Cut-Off Date:
$21,870,749.23
----------------
Registered Owner Certificate No. _
A-17-1
<PAGE>
Exhibit A-18
CUSIP 69348L PY 9
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-X
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 November 25, 1997. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is 7.000% 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., 250% of the Basic 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 Basic Prepayment Rate or any other rate.]
Series 1997-8 Portion of the Class II-X Notional
Amount as of the Cut-Off Date
evidenced by this Certificate:
Class II-X Remittance Rate: 7.000% $
applied to the Class II-X ---------------------------------
Notional Amount
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-X Principal Balance as of the Cut-Off Date:
$0.00
Class II-X Notional Amount as of the Cut-Off Date:
$35,148,664.58
----------------
Registered Owner Certificate No. _
A-18-1
<PAGE>
Exhibit A-19
CUSIP 69348L PZ 6
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-X
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 November 25, 1997. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is 6.750% 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., 235% of the Basic 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 Basic Prepayment Rate or any other rate.]
Series 1997-8
Portion of the Class III-X Notional
Amount as of the Cut-Off Date
evidenced by this Certificate:
Class III-X Remittance Rate: $
6.750% applied to the Class III-X ---------------------------------
Notional Amount
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 26, 2012
Class III-X Principal Balance as of the Cut-Off Date:
$0.00
Class III-X Notional Amount as of the Cut-Off Date:
$9,303,707.80
----------------
Registered Owner Certificate No. _
A-19-1
<PAGE>
Exhibit A-20
CUSIP 69348L QD 4
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-1
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.250% 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., 100% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS I-B-1 CERTIFICATE PRESENTED FOR REGISTRATION IN THE
NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH PLAN, OR ANY
OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO EFFECT SUCH
ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET FORTH IN
SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL ACCEPTABLE TO
AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE COMPANY TO THE
EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS I-B-1 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 CERTIFICATE ADMINISTRATOR,
THE MASTER SERVICERS 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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class I-B-1 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class I-B-1 Principal
Balance as of the Cut-Off Date
evidenced by this Certificate:
Class I-B-1 Remittance Rate: 7.250% $
--------------------------------
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: January 25, 2028
Class I-B-1 Principal Balance as of the Cut-Off Date:
$10,725,313.00
----------------
Registered Owner Certificate No. _
A-20-1
<PAGE>
Exhibit A-21
CUSIP 69348L QE 2
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-2
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.250% 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., 100% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS I-B-2 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS I-B-2
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class I-B-2 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class I-B-2 Principal
Balance as of the Cut-Off Date
evidenced by this Certificate:
$
-----------------------------------
Class I-B-2 Remittance Rate: 7.250%
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: January 25, 2028
Class I-B-2 Principal Balance as of
the Cut-Off Date:
$6,825,198.00
----------------
Registered Owner Certificate No. _
A-21-1
<PAGE>
Exhibit A-22
CUSIP 69348L QF 9
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-3
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.250% 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., 100% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS I-B-3 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS I-B-3
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class I-B-3 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class I-B-3 Principal
Balance as of the Cut-Off Date
Class I-B-3 Remittance Rate: 7.250% evidenced by this Certificate:
$
Cut-Off Date: November 1, 1997 -----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: January 25, 2028
Class I-B-3 Principal Balance as of the Cut-Off Date:
$4,290,125.00
----------------
Registered Owner Certificate No. _
A-22-1
<PAGE>
Exhibit A-23
CUSIP 69348L QN 2
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-4
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.250% 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., 100% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS I-B-4 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS I-B-4
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class I-B-4 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class I-B-4 Principal
Balance as of the Cut-Off Date
Class I-B-4 Remittance Rate: 7.250% evidenced by this Certificate:
$
Cut-Off Date: November 1, 1997 -----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: January 25, 2028
Class I-B-4 Principal Balance as of the Cut-Off Date:
$2,145,062.00
----------------
Registered Owner Certificate No. _
A-23-1
<PAGE>
Exhibit A-24
CUSIP 69348L QP 7
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-5
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.250% 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., 100% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS I-B-5 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS I-B-5
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class I-B-5 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class I-B-5 Principal
Balance as of the Cut-Off Date
Class I-B-5 Remittance Rate: 7.250% evidenced by this Certificate:
$
Cut-Off Date: November 1, 1997 -----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: January 25, 2028
Class I-B-5 Principal Balance as of the Cut-Off Date:
$780,023.00
----------------
Registered Owner Certificate No. _
A-24-1
<PAGE>
Exhibit A-25
CUSIP 69348L QQ 5
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-6
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.250% 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., 100% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS I-B-6 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS I-B-6
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class I-B-6 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class I-B-6 Principal
Balance as of the Cut-Off Date
Class I-B-6 Remittance Rate: 7.250% evidenced by this Certificate:
$
Cut-Off Date: November 1, 1997 -----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: January 25, 2028
Class I-B-6 Principal Balance as of the Cut-Off Date:
$1,560,046.08
----------------
Registered Owner Certificate No. _
A-25-1
<PAGE>
Exhibit A-26
CUSIP 69348L QG 7
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-1
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.000% 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., 250% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS II-B-1 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS II-B-1
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class II-B-1 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class II-B-1 Principal
Balance as of the Cut-Off Date
Class II-B-1 Remittance Rate: 7.000% evidenced by this Certificate:
$
Cut-Off Date: November 1, 1997 -----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-B-1 Principal Balance as of the Cut-Off Date:
$11,132,668.00
----------------
Registered Owner Certificate No. _
A-26-1
<PAGE>
Exhibit A-27
CUSIP 69348L QH 5
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-2
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.000% 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., 250% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS II-B-2 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS II-B-2
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class II-B-2 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8
Portion of the Class II-B-2 Principal
Class II-B-2 Remittance Rate: 7.000% Balance as of the Cut-Off Date
evidenced by this Certificate:
Cut-Off Date: November 1, 1997 $
-----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-B-2 Principal Balance as of the Cut-Off Date:
$3,254,165.00
----------------
Registered Owner Certificate No. _
A-27-1
<PAGE>
Exhibit A-28
CUSIP 69348L QJ 1
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-3
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.000% 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., 250% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS II-B-3 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS II-B-3
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class II-B-3 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8
Portion of the Class II-B-3 Principal
Class II-B-3 Remittance Rate: 7.000% Balance as of the Cut-Off Date
evidenced by this Certificate:
Cut-Off Date: November 1, 1997 $
-----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-B-3 Principal Balance as of the Cut-Off Date:
$1,712,718.00
----------------
Registered Owner Certificate No. _
A-28-1
<PAGE>
Exhibit A-29
CUSIP 69348L QR 3
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-4
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.000% 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., 250% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS II-B-4 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS II-B-4
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class II-B-4 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8
Portion of the Class II-B-4 Principal
Class II-B-4 Remittance Rate: 7.000% Balance as of the Cut-Off Date
evidenced by this Certificate:
Cut-Off Date: November 1, 1997 $
-----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-B-1 Principal Balance as of the Cut-Off Date:
$1,541,446.00
----------------
Registered Owner Certificate No. _
A-29-1
<PAGE>
Exhibit A-30
CUSIP 69348L QS 1
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-5
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.000% 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., 250% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS II-B-5 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS II-B-5
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class II-B-5 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8
Portion of the Class II-B-5 Principal
Class II-B-5 Remittance Rate: 7.000% Balance as of the Cut-Off Date
evidenced by this Certificate:
Cut-Off Date: November 1, 1997 $
-----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-B-5 Principal Balance as of the Cut-Off Date:
$1,027,631.00
----------------
Registered Owner Certificate No. _
A-30-1
<PAGE>
Exhibit A-31
CUSIP 69348L QZ 5
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-6
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 7.000% 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., 250% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS II-B-6 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS II-B-6
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class II-B-6 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8
Portion of the Class II-B-6 Principal
Class II-B-6 Remittance Rate: 7.000% Balance as of the Cut-Off Date
evidenced by this Certificate:
Cut-Off Date: November 1, 1997 $
-----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 27, 2027
Class II-B-6 Principal Balance as of the Cut-Off Date:
$1,027,631.70
----------------
Registered Owner Certificate No. _
A-31-1
<PAGE>
Exhibit A-32
CUSIP 69348L QK 8
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-1
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 6.750% 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., 235% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS III-B-1 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS III-B-1
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class III-B-1 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class III-B-1 Principal
Balance as of the Cut-Off Date
Class III-B-1 Remittance Rate: 6.750% evidenced by this Certificate:
$
Cut-Off Date: November 1, 1997 -----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 26, 2012
Class III-B-1 Principal Balance as of the Cut-Off Date:
$2,224,486.00
----------------
Registered Owner Certificate No. _
A-32-1
<PAGE>
Exhibit A-33
CUSIP 69348L QL 6
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-2
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 6.750% 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., 235% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS III-B-2 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS III-B-2
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class III-B-2 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class III-B-2 Principal
Balance as of the Cut-Off Date
Class III-B-2 Remittance Rate: 6.750% evidenced by this Certificate:
$
Cut-Off Date: November 1, 1997 -----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 26, 2012
Class III-B-2 Principal Balance as of the Cut-Off Date:
$417,579.00
----------------
Registered Owner Certificate No. _
A-33-1
<PAGE>
Exhibit A-34
CUSIP 69348L QM 4
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-3
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 6.750% 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., 235% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS III-B-3 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS III-B-3
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class III-B-3 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class III-B-3 Principal
Balance as of the Cut-Off Date
Class III-B-3 Remittance Rate: 6.750% evidenced by this Certificate:
$
Cut-Off Date: November 1, 1997 -----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 26, 2012
Class III-B-3 Principal Balance as of the Cut-Off Date:
$313,184.00
----------------
Registered Owner Certificate No. _
A-34-1
<PAGE>
Exhibit A-35
CUSIP 69348L QT 9
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-4
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 6.750% 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., 235% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS III-B-4 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS III-B-4
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class III-B-4 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class III-B-4 Principal
Balance as of the Cut-Off Date
Class III-B-4 Remittance Rate: 6.750% evidenced by this Certificate:
$
Cut-Off Date: November 1, 1997 -----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 26, 2012
Class III-B-4 Principal Balance as of the Cut-Off Date:
$260,987.00
----------------
Registered Owner Certificate No. _
A-35-1
<PAGE>
Exhibit A-36
CUSIP 69348L QU 6
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-5
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 6.750% 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., 235% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS III-B-5 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS III-B-5
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class III-B-5 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class III-B-5 Principal
Balance as of the Cut-Off Date
Class III-B-5 Remittance Rate: 6.750% evidenced by this Certificate:
$
Cut-Off Date: November 1, 1997 -----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 26, 2012
Class III-B-5 Principal Balance as of the Cut-Off Date:
$208,789.00
----------------
Registered Owner Certificate No. _
A-36-1
<PAGE>
Exhibit A-37
CUSIP 69348L QV 4
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-6
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
"Code"). The issue date (the "Issue Date") of this Certificate is November 25,
1997. The rate at which interest is payable as of the Issue Date with respect to
this Certificate is 6.750% 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., 235% of the Basic 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 Basic Prepayment Rate or any other rate.]
IN THE CASE OF ANY CLASS III-B-6 CERTIFICATE PRESENTED FOR REGISTRATION IN
THE NAME OF AN EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION 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"), A TRUSTEE OF ANY SUCH
PLAN, OR ANY OTHER PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH PLAN TO
EFFECT SUCH ACQUISITION, THE TRUSTEE SHALL REQUIRE, EXCEPT AS OTHERWISE SET
FORTH IN SECTION 5.01(d) OF THE POOLING AGREEMENT, AN OPINION OF COUNSEL
ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE
COMPANY TO THE EFFECT THAT THE PURCHASE OR HOLDING OF A CLASS III-B-6
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 CERTIFICATE
ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR THE COMPANY.
The Class III-B-6 Certificates will be subordinate in right of payment to and
provide credit support to certain Classes of Certificates, as described in the
Pooling Agreement.
Series 1997-8 Portion of the Class III-B-6 Principal
Balance as of the Cut-Off Date
Class III-B-6 Remittance Rate: 6.750% evidenced by this Certificate:
$
Cut-Off Date: November 1, 1997 -----------------------------------
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: December 26, 2012
Class III-B-6 Principal Balance as of the Cut-Off Date:
$208,788.70
----------------
Registered Owner Certificate No. _
A-37-1
<PAGE>
Exhibit B
CUSIP 69348L QY B
MORTGAGE PASS-THROUGH CERTIFICATE
Class 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 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 R CERTIFICATE BY ACCEPTANCE OF THIS
CERTIFICATE SHALL BE DEEMED TO HAVE CONSENTED TO THE PROVISIONS OF THIS
PARAGRAPH.
IN THE CASE OF ANY CLASS R CERTIFICATE PRESENTED FOR REGISTRATION IN THE NAME OF
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,
THE TRUSTEE SHALL REQUIRE AN OPINION OF COUNSEL ACCEPTABLE TO AND IN FORM AND
SUBSTANCE SATISFACTORY TO THE TRUSTEE AND THE COMPANY TO THE EFFECT THAT THE
PURCHASE OR HOLDING OF A CLASS R CERTIFICATE IS PERMISSIBLE UNDER APPLICABLE
LAW, WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION WITHIN
THE MEANING OF SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE AND WILL NOT
SUBJECT THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS 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 CERTIFICATE ADMINISTRATOR, THE MASTER SERVICERS OR
THE COMPANY.
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 1997-8 Percentage Interest evidenced by
this Class R Certificate in the
Class R Remittance Rate: 7.000%. distributions to be made with
Additionally, the the Class R respect to the Class R
Certificates are entitled to Certificate: %
Excess Liquidation Proceeds and -----
the Residual Distribution Amount
as defined in the Pooling Agreement.
Cut-Off Date: November 1, 1997
First Distribution Date: December 26, 1997
Last Scheduled Distribution Date: January 25, 2027
Class R Principal Balance as of the Cut-Off Date:
$50.00
----------------
Registered Owner Certificate No. _
B-1
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013640 Gironda ,Joseph A 4972 Fulton Place Murrells Inlet SC 29576 $168,690.66
60013643 Lubben ,Brian Sco 3091 Lisa Court THOUSAND OAKS CA 91320 $196,573.03
60013651 Romano ,Louis 151-14 22nd Avenue Whitestone NY 11357 $127,844.37
60013653 Ahsan ,Manzurul 15356 Hillside Circle Omaha NE 68154 $142,094.44
60013663 Hens ,Robert T 1215 Center Street Aurora NY 14052 $69,957.59
60013672 Schade ,Carole 1546 West 28th Street Loveland CO 80538 $142,593.15
60013680 Widmer ,William 150 Stag Road Cle Elum WA 98922 $93,282.44
60013684 Wright ,Thomas 270-272 Siena Long Beach CA 90803 $199,510.17
60013711 Alvarez ,Edgar 251 Durango Loop Davenport FL 33837 $86,340.63
60013722 Tsan ,Peter S. 11249 North 50th Lane Glendale AZ 85304 $94,109.95
60013732 Neafsey ,Donald G 213 Grasmere Avenue Fairfield CT 6430 $118,616.36
60013738 Zabala ,Francisco 250 Evergreen Street, N. Palm Bay FL 32907 $70,620.44
60013747 Salters ,Ronald B 8836 South Harper Chicago IL 60619 $94,778.95
60013753 Kircher ,Steven 130 Pacific Court Vallejo CA 94589 $52,876.66
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013640 Gironda ,Joseph A 8.500 .375 8.125 .0500 8.075 09/01/2027
60013643 Lubben ,Brian Sco 8.875 .375 8.500 .0500 8.450 02/01/2027
60013651 Romano ,Louis 8.500 .375 8.125 .0500 8.075 10/01/2027
60013653 Ahsan ,Manzurul 8.625 .375 8.250 .0500 8.200 08/01/2027
60013663 Hens ,Robert T 8.500 .375 8.125 .0500 8.075 10/01/2027
60013672 Schade ,Carole 8.875 .375 8.500 .0500 8.450 07/01/2027
60013680 Widmer ,William 8.750 .375 8.375 .0500 8.325 07/01/2027
60013684 Wright ,Thomas 8.500 .375 8.125 .0500 8.075 07/01/2027
60013711 Alvarez ,Edgar 8.625 .375 8.250 .0500 8.200 07/01/2027
60013722 Tsan ,Peter S. 8.500 .375 8.125 .0500 8.075 07/01/2027
60013732 Neafsey ,Donald G 8.875 .375 8.500 .0500 8.450 09/01/2027
60013738 Zabala ,Francisco 8.875 .375 8.500 .0500 8.450 10/01/2027
60013747 Salters ,Ronald B 8.750 .375 8.375 .0500 8.325 08/01/2027
60013753 Kircher ,Steven 8.750 .375 8.375 .0500 8.325 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013640 Gironda ,Joseph A 224944 $1,299.47 11/01/1997 360
60013643 Lubben ,Brian Sco 226906 $1,572.19 15 11/01/1997 360
60013651 Romano ,Louis 231669 $984.21 11/01/1997 360
60013653 Ahsan ,Manzurul 233468 $1,107.96 11/01/1997 360
60013663 Hens ,Robert T 239444 $538.24 11/01/1997 360
60013672 Schade ,Carole 243027 $1,137.78 11/01/1997 360
60013680 Widmer ,William 245428 $735.57 2 11/01/1997 360
60013684 Wright ,Thomas 246170 $1,537.83 11/01/1997 360
60013711 Alvarez ,Edgar 251100 $673.57 11/01/1997 360
60013722 Tsan ,Peter S. 252626 $725.86 11/01/1997 360
60013732 Neafsey ,Donald G 253932 $944.83 19 11/01/1997 360
60013738 Zabala ,Francisco 254595 $562.52 11/01/1997 360
60013747 Salters ,Ronald B 255242 $747.37 11/01/1997 360
60013753 Kircher ,Steven 256076 $416.96 11/01/1997 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>
60013640 Gironda ,Joseph A $247,000.00 N
60013643 Lubben ,Brian Sco $208,000.00 N
60013651 Romano ,Louis $425,000.00 N
60013653 Ahsan ,Manzurul $203,500.00 N
60013663 Hens ,Robert T $114,000.00 N
60013672 Schade ,Carole $230,000.00 N
60013680 Widmer ,William $110,000.00 N
60013684 Wright ,Thomas $295,000.00 N
60013711 Alvarez ,Edgar $123,805.00 N
60013722 Tsan ,Peter S. $118,000.00 N
60013732 Neafsey ,Donald G $125,000.00 N
60013738 Zabala ,Francisco $94,300.00 N
60013747 Salters ,Ronald B $148,000.00 N
60013753 Kircher ,Steven $67,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013766 Carnevale ,Jane 4923 Commonwealth Drive Sarasota FL 34242 $149,822.24
60013767 Verrino ,Robert 1606 Blue Heron Lane Jacksonville Be FL 32250 $117,371.59
60013775 Neilson ,Sally A 5 Lexington Court Coram NY 11727 $67,923.47
60013784 Hobbs ,Christoph 76 Division St Westbury NY 11590 $101,180.31
60013786 Williams ,Percival 1301 N. W. 159th Avenue Pembroke Pines FL 33028 $117,700.23
60013790 Stramel ,Kenneth L 1637 Westridge Drive E-4 Fort Collins CO 80526 $103,011.11
60013799 Freudiger ,Felicia 3714 Ne 132nd Avenue Vancouver WA 98682 $71,854.34
60013818 Tureck ,David J. 2004-2010 S W Timber Aven Redmond OR 97756 $83,952.90
60013821 Johnson ,Roseann E 364 Sedgewood Road Springfield Tow PA 19064 $129,300.00
60013822 Bohnen ,David J 19919 Villa Drive Sonora CA 95370 $202,153.91
60013828 Pezzo ,Anthony 436 Eighth Avenue Pelham NY 10803 $196,000.00
60013833 Clemow ,Susan A. 3344 Oak Drive Hollywood FL 33021 $83,811.81
60013854 Raulien ,Dave W. 7629 - 7631 Bogey Court Sacramento CA 95828 $79,213.27
60013857 Chan ,Chi H. 4802 S.e. 65th Avenue Portland OR 97206 $73,907.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013766 Carnevale ,Jane 8.625 .375 8.250 .0500 8.200 09/01/2027
60013767 Verrino ,Robert 7.875 .375 7.500 .0500 7.450 07/01/2025
60013775 Neilson ,Sally A 8.875 .375 8.500 .0500 8.450 09/01/2027
60013784 Hobbs ,Christoph 7.875 .375 7.500 .0500 7.450 10/01/2027
60013786 Williams ,Percival 8.875 .375 8.500 .0500 8.450 09/01/2027
60013790 Stramel ,Kenneth L 8.500 .375 8.125 .0500 8.075 09/01/2027
60013799 Freudiger ,Felicia 8.750 .375 8.375 .0500 8.325 08/01/2027
60013818 Tureck ,David J. 8.875 .375 8.500 .0500 8.450 10/01/2027
60013821 Johnson ,Roseann E 8.625 .375 8.250 .0500 8.200 11/01/2027
60013822 Bohnen ,David J 8.500 .375 8.125 .0500 8.075 10/01/2027
60013828 Pezzo ,Anthony 8.500 .375 8.125 .0500 8.075 11/01/2027
60013833 Clemow ,Susan A. 7.500 .375 7.125 .0500 7.075 08/01/2027
60013854 Raulien ,Dave W. 8.875 .375 8.500 .0500 8.450 09/01/2027
60013857 Chan ,Chi H. 8.375 .375 8.000 .0500 7.950 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013766 Carnevale ,Jane 256887 $1,166.69 11/01/1997 360
60013767 Verrino ,Robert 256896 $870.08 11/01/1997 360
60013775 Neilson ,Sally A 257193 $541.04 11/01/1997 360
60013784 Hobbs ,Christoph 257573 $734.14 11/01/1997 360
60013786 Williams ,Percival 257681 $938.07 11/01/1997 360
60013790 Stramel ,Kenneth L 257881 $793.52 11/01/1997 360
60013799 Freudiger ,Felicia 258181 $566.43 11/01/1997 360
60013818 Tureck ,David J. 259298 $668.35 11/01/1997 360
60013821 Johnson ,Roseann E 259517 $1,005.68 11/01/1997 360
60013822 Bohnen ,David J 259526 $1,556.28 11/01/1997 360
60013828 Pezzo ,Anthony 259872 $1,507.07 11/01/1997 360
60013833 Clemow ,Susan A. 260060 $587.34 11/01/1997 360
60013854 Raulien ,Dave W. 260595 $633.34 11/01/1997 360
60013857 Chan ,Chi H. 260620 $562.45 11/01/1997 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>
60013766 Carnevale ,Jane $226,500.00 N
60013767 Verrino ,Robert $170,000.00 N
60013775 Neilson ,Sally A $85,000.00 N
60013784 Hobbs ,Christoph $150,000.00 N
60013786 Williams ,Percival $157,259.00 N
60013790 Stramel ,Kenneth L $129,006.00 N
60013799 Freudiger ,Felicia $103,000.00 N
60013818 Tureck ,David J. $112,000.00 N
60013821 Johnson ,Roseann E $172,500.00 N
60013822 Bohnen ,David J $253,000.00 N
60013828 Pezzo ,Anthony $255,000.00 N
60013833 Clemow ,Susan A. $105,000.00 N
60013854 Raulien ,Dave W. $99,500.00 N
60013857 Chan ,Chi H. $92,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013870 Reed ,Barbara 19 Echo Reed Mt Charleston NV 89124 $159,800.40
60013872 Spencer ,Victoria 8080 Yancey Lane Flagstaff AZ 86004 $70,848.67
60013874 Duong ,Chi 2489 W 111th Pl Denver CO 80234 $117,103.75
60013877 Dube ,Robert Pa 4309 Balboa Drive Fort Worth TX 76133 $94,303.62
60013878 Quan ,Jimmy Y C 3718 Patterson Ave Oakland CA 94619 $116,042.59
60013885 Oakes ,Gary H 4091 Manchester Place Riverside CA 92503 $90,290.08
60013886 Trent ,David E 2926 Se Yamhill Street Portland OR 97214 $149,812.88
60013888 Borawski ,Thomas E 12 Vernon St Northampton MA 1060 $139,820.83
60013898 El Khoury ,George F. 9151 Collett Avenue North Hills CA 91343 $131,082.03
60013905 Peyton ,Patricia 7250 Via Mimosa San Jose CA 95135 $184,744.53
60013910 Warman ,Eduardo N 6230-34 Kirkwood Lane N Yuma AZ 85369 $85,451.16
60013915 Rowlette ,Randy D 295 E Arlington Street Gladstone OR 97027 $127,777.45
60013916 Cohen ,Jerome J 10169 N Serene Meadows D Boca Raton FL 33428 $89,890.55
60013917 Mcconnell ,Bonne Sue 545 Linden Street Yuba City CA 95991 $63,422.79
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013870 Reed ,Barbara 8.375 .375 8.000 .0500 7.950 09/01/2027
60013872 Spencer ,Victoria 7.750 .375 7.375 .0500 7.325 09/01/2027
60013874 Duong ,Chi 8.375 .375 8.000 .0500 7.950 10/01/2027
60013877 Dube ,Robert Pa 7.875 .375 7.500 .0500 7.450 09/01/2027
60013878 Quan ,Jimmy Y C 8.625 .375 8.250 .0500 8.200 09/01/2027
60013885 Oakes ,Gary H 8.500 .375 8.125 .0500 8.075 09/01/2027
60013886 Trent ,David E 8.375 .375 8.000 .0500 7.950 10/01/2027
60013888 Borawski ,Thomas E 8.250 .375 7.875 .0500 7.825 10/01/2027
60013898 El Khoury ,George F. 8.250 .375 7.875 .0500 7.825 09/01/2027
60013905 Peyton ,Patricia 7.875 .375 7.500 .0500 7.450 10/01/2027
60013910 Warman ,Eduardo N 8.750 .375 8.375 .0500 8.325 09/01/2027
60013915 Rowlette ,Randy D 8.750 .375 8.375 .0500 8.325 09/01/2027
60013916 Cohen ,Jerome J 8.500 .375 8.125 .0500 8.075 10/01/2027
60013917 Mcconnell ,Bonne Sue 8.500 .375 8.125 .0500 8.075 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013870 Reed ,Barbara 260941 $1,216.12 11/01/1997 360
60013872 Spencer ,Victoria 261048 $508.66 11/01/1997 360
60013874 Duong ,Chi 261203 $891.18 11/01/1997 360
60013877 Dube ,Robert Pa 261282 $685.19 11/01/1997 360
60013878 Quan ,Jimmy Y C 261286 $904.19 11/01/1997 360
60013885 Oakes ,Gary H 261505 $695.10 11/01/1997 360
60013886 Trent ,David E 261511 $1,140.11 11/01/1997 360
60013888 Borawski ,Thomas E 261583 $1,051.78 11/01/1997 360
60013898 El Khoury ,George F. 261764 $986.04 11/01/1997 360
60013905 Peyton ,Patricia 261894 $1,341.38 11/01/1997 360
60013910 Warman ,Eduardo N 262002 $673.42 11/01/1997 360
60013915 Rowlette ,Randy D 262104 $1,006.98 11/01/1997 360
60013916 Cohen ,Jerome J 262107 $692.03 11/01/1997 360
60013917 Mcconnell ,Bonne Sue 262116 $488.26 11/01/1997 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>
60013870 Reed ,Barbara $200,000.00 N
60013872 Spencer ,Victoria $242,000.00 N
60013874 Duong ,Chi $156,365.00 N
60013877 Dube ,Robert Pa $119,000.00 N
60013878 Quan ,Jimmy Y C $155,000.00 N
60013885 Oakes ,Gary H $113,000.00 N
60013886 Trent ,David E $215,000.00 N
60013888 Borawski ,Thomas E $175,000.00 N
60013898 El Khoury ,George F. $175,000.00 N
60013905 Peyton ,Patricia $285,000.00 N
60013910 Warman ,Eduardo N $107,000.00 N
60013915 Rowlette ,Randy D $160,000.00 N
60013916 Cohen ,Jerome J $127,000.00 N
60013917 Mcconnell ,Bonne Sue $81,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013920 Spencer ,William L 1518 North Pacific Avenue Kelso WA 98626 $96,890.83
60013924 Scagliola ,Douglas A 31265 Oakridge Court Spanish Fort AL 36527 $111,860.15
60013929 Chapman ,Linda 2487 Peachtree Lane san jose CA 95128 $125,155.49
60013930 Hutton ,Kathleen 71 Lakewood Circle Glastonbury CT 6033 $143,729.60
60013938 Smith ,Gary G. 258 River Road Fairfax VT 5454 $107,872.02
60013944 Blumberg ,Jenifer L 611 Cleveland Street Missoula MT 59801 $98,879.62
60013946 Woody ,Daniel C 1672 Frankfurt Way Livermore CA 94550 $119,780.36
60013947 Burns ,Jeffrey A 600 West Vineyard Drive Pasco WA 99301 $116,104.99
60013957 Coumbs ,James M. 22901 112th Place S.e. Kent WA 98031 $91,292.51
60013959 Foehrenbach ,Julianne 11515 Route 22 Austerlitz NY 12017 $84,948.50
60013961 Rodriguez ,Jose 116 East Grove St. Bogota NJ 7603 $124,340.67
60013962 Adams ,Gregory A 1105 Highland Station Fort Worth TX 76131 $84,891.22
60013964 Sodini ,Peter D. 22380 Mono Drive Twain Harte CA 95383 $211,735.52
60013967 Oass ,William J 33 Driftwood Lane Berlin MD 21811 $94,282.23
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013920 Spencer ,William L 8.875 .375 8.500 .0500 8.450 09/01/2027
60013924 Scagliola ,Douglas A 8.875 .375 8.500 .0500 8.450 08/01/2027
60013929 Chapman ,Linda 8.125 .375 7.750 .0500 7.700 10/01/2027
60013930 Hutton ,Kathleen 8.375 .375 8.000 .0500 7.950 09/01/2027
60013938 Smith ,Gary G. 8.625 .375 8.250 .0500 8.200 10/01/2027
60013944 Blumberg ,Jenifer L 8.500 .375 8.125 .0500 8.075 09/01/2027
60013946 Woody ,Daniel C 8.500 .375 8.125 .0500 8.075 09/01/2027
60013947 Burns ,Jeffrey A 8.375 .375 8.000 .0500 7.950 10/01/2027
60013957 Coumbs ,James M. 8.875 .375 8.500 .0500 8.450 08/01/2027
60013959 Foehrenbach ,Julianne 8.500 .375 8.125 .0500 8.075 10/01/2027
60013961 Rodriguez ,Jose 8.250 .375 7.875 .0500 7.825 10/01/2027
60013962 Adams ,Gregory A 8.250 .375 7.875 .0500 7.825 10/01/2027
60013964 Sodini ,Peter D. 8.375 .375 8.000 .0500 7.950 09/01/2027
60013967 Oass ,William J 8.375 .375 8.000 .0500 7.950 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013920 Spencer ,William L 262166 $771.78 11/01/1997 360
60013924 Scagliola ,Douglas A 262284 $891.52 11/01/1997 360
60013929 Chapman ,Linda 262420 $930.50 11/01/1997 360
60013930 Hutton ,Kathleen 262426 $1,094.51 11/01/1997 360
60013938 Smith ,Gary G. 262535 $840.01 11/01/1997 360
60013944 Blumberg ,Jenifer L 262653 $761.23 11/01/1997 360
60013946 Woody ,Daniel C 262677 $922.70 11/01/1997 360
60013947 Burns ,Jeffrey A 262690 $883.58 11/01/1997 360
60013957 Coumbs ,James M. 262865 $728.02 11/01/1997 360
60013959 Foehrenbach ,Julianne 262900 $653.58 11/01/1997 360
60013961 Rodriguez ,Jose 262922 $935.33 11/01/1997 360
60013962 Adams ,Gregory A 262931 $638.58 11/01/1997 360
60013964 Sodini ,Peter D. 262951 $1,611.36 11/01/1997 360
60013967 Oass ,William J 263179 $717.51 11/01/1997 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>
60013920 Spencer ,William L $137,000.00 N
60013924 Scagliola ,Douglas A $149,400.00 N
60013929 Chapman ,Linda $265,000.00 N
60013930 Hutton ,Kathleen $180,000.00 N
60013938 Smith ,Gary G. $144,000.00 N
60013944 Blumberg ,Jenifer L $132,000.00 N
60013946 Woody ,Daniel C $230,000.00 N
60013947 Burns ,Jeffrey A $155,000.00 N
60013957 Coumbs ,James M. $122,000.00 N
60013959 Foehrenbach ,Julianne $115,000.00 N
60013961 Rodriguez ,Jose $166,000.00 N
60013962 Adams ,Gregory A $107,000.00 N
60013964 Sodini ,Peter D. $265,000.00 N
60013967 Oass ,William J $118,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013969 Babukr ,Haidrah M 4011 Sheffield Way Antioch CA 94509 $131,704.25
60013974 Goetschius ,Gayle Ell 145 Colonial Avenue Southbury CT 6488 $172,500.00
60013975 Kelley ,Kathleen 26 Glenwood Road Clinton CT 6413 $53,969.73
60013976 Thompson ,Jerry F. 3154 Hosie Avenue Bryon CA 94514 $137,809.43
60013982 Redlich ,Stella D 491 Wagle Lane Fieldbrook CA 95519 $86,649.08
60013988 Vatistas ,Gregory 23 Silver Street Rochester NH 3867 $83,949.11
60013992 Carr ,Cedric An 2728 Water Oak Drive Grand Prairie TX 75052 $110,966.49
60013995 Rozenberg ,Polina 225 East 86 Street New York NY 10028 $115,855.28
60013997 Kilby ,Robert 5986 Annaberg Place Burke VA 22015 $100,686.56
60013999 Mavroules ,Mitchell 24 Sherman Street Peabody MA 1960 $103,863.48
60014018 Sobel ,Richard P 4609 Cashel Castle Drive Houston TX 77069 $55,935.31
60014032 Bucher ,Nancy S. 7711 25th Avenue Ne Seattle WA 98115 $137,432.69
60014036 Kaselow ,Richard W 511 Cordova Avenue Nw Albuquerque NM 87107 $81,909.83
60014038 Smolyar ,Yakov 4611 Vista Del Monte #204 Sherman Oaks CA 91403 $147,707.58
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013969 Babukr ,Haidrah M 7.500 .375 7.125 .0500 7.075 09/01/2027
60013974 Goetschius ,Gayle Ell 8.750 .375 8.375 .0500 8.325 11/01/2027
60013975 Kelley ,Kathleen 8.875 .375 8.500 .0500 8.450 10/01/2027
60013976 Thompson ,Jerry F. 7.875 .375 7.500 .0500 7.450 10/01/2027
60013982 Redlich ,Stella D 8.750 .375 8.375 .0500 8.325 09/01/2027
60013988 Vatistas ,Gregory 8.500 .375 8.125 .0500 8.075 10/01/2027
60013992 Carr ,Cedric An 8.500 .375 8.125 .0500 8.075 11/01/2024
60013995 Rozenberg ,Polina 8.375 .375 8.000 .0500 7.950 10/01/2027
60013997 Kilby ,Robert 8.875 .375 8.500 .0500 8.450 10/01/2027
60013999 Mavroules ,Mitchell 8.125 .375 7.750 .0500 7.700 10/01/2027
60014018 Sobel ,Richard P 8.750 .375 8.375 .0500 8.325 09/01/2027
60014032 Bucher ,Nancy S. 8.500 .375 8.125 .0500 8.075 09/01/2027
60014036 Kaselow ,Richard W 8.125 .375 7.750 .0500 7.700 09/01/2027
60014038 Smolyar ,Yakov 8.125 .375 7.750 .0500 7.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013969 Babukr ,Haidrah M 263194 $922.97 11/01/1997 360
60013974 Goetschius ,Gayle Ell 263329 $1,357.06 11/01/1997 360
60013975 Kelley ,Kathleen 263330 $429.65 11/01/1997 360
60013976 Thompson ,Jerry F. 263331 $1,000.60 12 11/01/1997 360
60013982 Redlich ,Stella D 263474 $682.86 11/01/1997 360
60013988 Vatistas ,Gregory 263596 $645.89 11/01/1997 360
60013992 Carr ,Cedric An 263718 $874.88 2 11/01/1997 360
60013995 Rozenberg ,Polina 263780 $881.69 11/01/1997 360
60013997 Kilby ,Robert 263832 $802.01 11/01/1997 360
60013999 Mavroules ,Mitchell 263841 $772.20 11/01/1997 360
60014018 Sobel ,Richard P 264107 $440.56 11/01/1997 360
60014032 Bucher ,Nancy S. 264361 $1,058.03 11/01/1997 360
60014036 Kaselow ,Richard W 264433 $609.39 11/01/1997 360
60014038 Smolyar ,Yakov 264489 $1,098.90 11/01/1997 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>
60013969 Babukr ,Haidrah M $195,000.00 N
60013974 Goetschius ,Gayle Ell $230,000.00 N
60013975 Kelley ,Kathleen $99,000.00 N
60013976 Thompson ,Jerry F. $155,000.00 N
60013982 Redlich ,Stella D $108,500.00 N
60013988 Vatistas ,Gregory $105,500.00 N
60013992 Carr ,Cedric An $120,000.00 N
60013995 Rozenberg ,Polina $145,000.00 N
60013997 Kilby ,Robert $126,000.00 N
60013999 Mavroules ,Mitchell $130,000.00 N
60014018 Sobel ,Richard P $70,000.00 N
60014032 Bucher ,Nancy S. $172,000.00 N
60014036 Kaselow ,Richard W $102,590.00 N
60014038 Smolyar ,Yakov $185,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014050 Vanmeter ,Kristophe 5034 Old Orr Road Flowery Branch GA 30542 $72,906.60
60014051 Vanmeter ,Kristophe 5025 Loving Road Flowery Branch GA 30542 $72,906.60
60014052 Vanmeter ,Kristophe 5016 Loving Road Flowery Branch GA 30542 $72,906.60
60014053 Spahr ,Gary M 8115 Jack Rabbit Road Cheyenne WY 82009 $157,303.52
60014055 Ferreira ,Richard A 321 Laurel Ave Gustine CA 95322 $99,764.54
60014056 Tsoi ,Benny K C 8912 S Miners Drive Littleton CO 80126 $121,109.98
60014057 Rivers ,Joseph 15 Straub Drive Lagrangeville NY 12540 $145,817.86
60014061 Young ,John W 2424 5th Street Boulder CO 80302 $198,616.69
60014072 Hogan ,Mary Ruth 2222 Barbara Drive Selma CA 93662 $66,866.25
60014073 Dexter ,Charles V 1875 Fairfield Terrace Henderson NV 89014 $189,134.96
60014074 Pansky ,Stacie 9 Lexington Ct Churchville PA 18966 $146,430.68
60014075 Sheikh ,Shehzad 945 Chestnut Ridge Road Chestnut Ridge NY 10977 $98,888.59
60014085 Tatem ,Michael D 6 Sherman Street Huntington NY 11743 $113,857.78
60014099 Mcbride ,Luanne P 1508 Blaine Avenue Ne Renton WA 98056 $121,843.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014050 Vanmeter ,Kristophe 8.250 .375 7.875 .0500 7.825 09/01/2027
60014051 Vanmeter ,Kristophe 8.250 .375 7.875 .0500 7.825 09/01/2027
60014052 Vanmeter ,Kristophe 8.250 .375 7.875 .0500 7.825 09/01/2027
60014053 Spahr ,Gary M 8.375 .375 8.000 .0500 7.950 10/01/2027
60014055 Ferreira ,Richard A 7.250 .375 6.875 .0500 6.825 09/01/2027
60014056 Tsoi ,Benny K C 8.750 .375 8.375 .0500 8.325 09/01/2027
60014057 Rivers ,Joseph 8.375 .375 8.000 .0500 7.950 10/01/2027
60014061 Young ,John W 8.250 .375 7.875 .0500 7.825 09/01/2027
60014072 Hogan ,Mary Ruth 8.375 .375 8.000 .0500 7.950 09/01/2027
60014073 Dexter ,Charles V 8.250 .375 7.875 .0500 7.825 09/01/2027
60014074 Pansky ,Stacie 8.750 .375 8.375 .0500 8.325 09/01/2027
60014075 Sheikh ,Shehzad 8.875 .375 8.500 .0500 8.450 10/01/2027
60014085 Tatem ,Michael D 8.375 .375 8.000 .0500 7.950 10/01/2027
60014099 Mcbride ,Luanne P 8.250 .375 7.875 .0500 7.825 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014050 Vanmeter ,Kristophe 264663 $548.42 11/01/1997 360
60014051 Vanmeter ,Kristophe 264666 $548.42 11/01/1997 360
60014052 Vanmeter ,Kristophe 264668 $548.42 11/01/1997 360
60014053 Spahr ,Gary M 264697 $1,197.12 11/01/1997 360
60014055 Ferreira ,Richard A 264743 $682.18 11/01/1997 360
60014056 Tsoi ,Benny K C 264759 $953.87 11/01/1997 360
60014057 Rivers ,Joseph 264766 $1,109.71 11/01/1997 360
60014061 Young ,John W 264798 $1,495.02 11/01/1997 360
60014072 Hogan ,Mary Ruth 265029 $513.05 11/01/1997 360
60014073 Dexter ,Charles V 265041 $1,423.66 11/01/1997 360
60014074 Pansky ,Stacie 265051 $1,153.31 11/01/1997 360
60014075 Sheikh ,Shehzad 265057 $787.69 11/01/1997 360
60014085 Tatem ,Michael D 265162 $866.49 11/01/1997 360
60014099 Mcbride ,Luanne P 265317 $916.55 1 11/01/1997 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>
60014050 Vanmeter ,Kristophe $100,000.00 N
60014051 Vanmeter ,Kristophe $100,000.00 N
60014052 Vanmeter ,Kristophe $100,000.00 N
60014053 Spahr ,Gary M $210,000.00 N
60014055 Ferreira ,Richard A $170,000.00 N
60014056 Tsoi ,Benny K C $151,565.00 N
60014057 Rivers ,Joseph $182,500.00 N
60014061 Young ,John W $248,832.00 N
60014072 Hogan ,Mary Ruth $90,000.00 N
60014073 Dexter ,Charles V $339,500.00 N
60014074 Pansky ,Stacie $235,000.00 N
60014075 Sheikh ,Shehzad $132,000.00 N
60014085 Tatem ,Michael D $152,000.00 N
60014099 Mcbride ,Luanne P $140,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014101 Henderson ,Shirley J 219 Calle Questa Fritch TX 79036 $69,515.36
60014102 Pfitzinger ,Gaynel J 1315 East Michelle Drive Phoenix AZ 85022 $110,115.94
60014105 Dean ,Ronald E 4629 Cloud Crest Drive Medford OR 97504 $199,257.42
60014107 Fayne ,Thomas E. 31 Midhill Road Martinez CA 94553 $127,926.35
60014121 Jaffy ,Harris 2418 Penmar Ave Venice CA 90291 $183,663.14
60014126 Goldschmidt ,Marie 598 21st Street Avalon NJ 8202 $79,864.44
60014127 Lee ,Carol L 4223ne 15th Avenue Portland OR 97211 $102,980.93
60014128 Ross ,Jane E. 9203 Alden Lenexa KS 66215 $92,945.10
60014130 Eichorn ,James 1417-1419 E. Fairbanks St Tacoma WA 98404 $58,931.85
60014132 Eichorn ,James 1421 & 1423 E. Fairbanks Tacoma WA 98404 $58,931.85
60014138 Alexander ,William 11 12 Percival St Maynard MA 1754 $99,884.50
60014150 Ramos ,Joseph 50 Snowden Avenue Ossining NY 10562 $85,298.80
60014151 Tecau ,Philip A. 8361 West Laurel Lane Peoria AZ 85345 $126,392.13
60014153 White ,Charles T 2641 Spring Street Dacula GA 30211 $79,897.63
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014101 Henderson ,Shirley J 8.500 .375 8.125 .0500 8.075 10/01/2027
60014102 Pfitzinger ,Gaynel J 8.500 .375 8.125 .0500 8.075 10/01/2027
60014105 Dean ,Ronald E 8.500 .375 8.125 .0500 8.075 10/01/2027
60014107 Fayne ,Thomas E. 8.750 .375 8.375 .0500 8.325 10/01/2027
60014121 Jaffy ,Harris 8.500 .375 8.125 .0500 8.075 09/01/2027
60014126 Goldschmidt ,Marie 8.875 .375 8.500 .0500 8.450 09/01/2027
60014127 Lee ,Carol L 8.750 .375 8.375 .0500 8.325 10/01/2027
60014128 Ross ,Jane E. 8.625 .375 8.250 .0500 8.200 10/01/2027
60014130 Eichorn ,James 8.750 .375 8.375 .0500 8.325 09/01/2027
60014132 Eichorn ,James 8.750 .375 8.375 .0500 8.325 09/01/2027
60014138 Alexander ,William 8.750 .375 8.375 .0500 8.325 09/01/2027
60014150 Ramos ,Joseph 8.625 .375 8.250 .0500 8.200 10/01/2027
60014151 Tecau ,Philip A. 8.375 .375 8.000 .0500 7.950 10/01/2027
60014153 White ,Charles T 8.250 .375 7.875 .0500 7.825 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014101 Henderson ,Shirley J 265321 $535.17 11/01/1997 360
60014102 Pfitzinger ,Gaynel J 265326 $847.73 11/01/1997 360
60014105 Dean ,Ronald E 265349 $1,533.99 11/01/1997 360
60014107 Fayne ,Thomas E. 265421 $1,006.98 11/01/1997 360
60014121 Jaffy ,Harris 265675 $1,414.81 11/01/1997 360
60014126 Goldschmidt ,Marie 265747 $636.52 11/01/1997 360
60014127 Lee ,Carol L 265762 $811.09 11/01/1997 360
60014128 Ross ,Jane E. 265766 $723.34 11/01/1997 360
60014130 Eichorn ,James 265773 $464.16 11/01/1997 360
60014132 Eichorn ,James 265784 $464.16 11/01/1997 360
60014138 Alexander ,William 265905 $786.71 11/01/1997 360
60014150 Ramos ,Joseph 266012 $664.23 11/01/1997 360
60014151 Tecau ,Philip A. 266018 $961.87 15 11/01/1997 360
60014153 White ,Charles T 266027 $601.01 11/01/1997 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>
60014101 Henderson ,Shirley J $87,000.00 N
60014102 Pfitzinger ,Gaynel J $147,000.00 N
60014105 Dean ,Ronald E $350,000.00 N
60014107 Fayne ,Thomas E. $160,000.00 N
60014121 Jaffy ,Harris $230,000.00 N
60014126 Goldschmidt ,Marie $150,000.00 N
60014127 Lee ,Carol L $137,500.00 N
60014128 Ross ,Jane E. $116,500.00 N
60014130 Eichorn ,James $80,000.00 N
60014132 Eichorn ,James $80,000.00 N
60014138 Alexander ,William $145,000.00 N
60014150 Ramos ,Joseph $122,000.00 N
60014151 Tecau ,Philip A. $140,643.00 N
60014153 White ,Charles T $100,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014166 Strickler ,C William 1100 Pine Top Circle Colfax CA 95713 $117,852.79
60014167 Camelo ,Michael S 5227 Washington Street Suncook NH 3275 $134,848.08
60014177 Lim ,Kai Choo 23336 Pretty Doe Drive Canyon Lake CA 92587 $149,703.63
60014179 Lamar ,Ronald V 3243 Soaring Eagle Way Pinetop AZ 85935 $173,106.20
60014184 Runyan ,Patrick M 1923 East Hazelwood Avenu Phoenix AZ 85016 $75,604.07
60014185 Stauffer ,David 1326 Amador Street Vallejo CA 94590 $136,829.10
60014186 Hahle ,Susan 2945 Leta Lane Sacramento CA 95821 $94,858.54
60014192 Blanco ,Carina 3624 Crescent Canyon Stre Las Vegas NV 89129 $175,002.97
60014197 Parks ,Bonnita A 417 Third Street Annapolis MD 21403 $110,811.91
60014198 Paretsky ,Harold 10412 Pacific Sageview Ln Las Vegas NV 89134 $111,641.67
60014200 Westerlund ,Joyce A 4077 156th Ave S E Bellevue WA 98006 $122,258.63
60014207 Tucci ,Michael 1522 E St Louise Las Vegas NV 89104 $72,507.16
60014212 Diegelman ,Esther 8931 E. River Road North Port FL 34287 $208,745.88
60014215 Blount ,Else H 2702 North Bristol Tacoma WA 98407 $87,678.76
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014166 Strickler ,C William 8.375 .375 8.000 .0500 7.950 10/01/2027
60014167 Camelo ,Michael S 8.875 .375 8.500 .0500 8.450 10/01/2027
60014177 Lim ,Kai Choo 8.125 .375 7.750 .0500 7.700 09/01/2027
60014179 Lamar ,Ronald V 8.875 .375 8.500 .0500 8.450 09/01/2027
60014184 Runyan ,Patrick M 8.250 .375 7.875 .0500 7.825 09/01/2027
60014185 Stauffer ,David 8.375 .375 8.000 .0500 7.950 10/01/2027
60014186 Hahle ,Susan 7.500 .375 7.125 .0500 7.075 10/01/2027
60014192 Blanco ,Carina 8.875 .375 8.500 .0500 8.450 09/01/2027
60014197 Parks ,Bonnita A 8.875 .375 8.500 .0500 8.450 09/01/2027
60014198 Paretsky ,Harold 7.750 .375 7.375 .0500 7.325 10/01/2027
60014200 Westerlund ,Joyce A 8.750 .375 8.375 .0500 8.325 10/01/2027
60014207 Tucci ,Michael 8.625 .375 8.250 .0500 8.200 10/01/2027
60014212 Diegelman ,Esther 8.500 .375 8.125 .0500 8.075 10/01/2027
60014215 Blount ,Else H 7.875 .375 7.500 .0500 7.450 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014166 Strickler ,C William 266226 $896.89 11/01/1997 360
60014167 Camelo ,Michael S 266236 $1,074.12 11/01/1997 360
60014177 Lim ,Kai Choo 266341 $1,113.75 11/01/1997 360
60014179 Lamar ,Ronald V 266386 $1,379.65 11/01/1997 360
60014184 Runyan ,Patrick M 266481 $569.09 11/01/1997 360
60014185 Stauffer ,David 266492 $1,041.30 11/01/1997 360
60014186 Hahle ,Susan 266498 $664.26 11/01/1997 360
60014192 Blanco ,Carina 266553 $1,394.77 12 11/01/1997 360
60014197 Parks ,Bonnita A 266650 $883.17 11/01/1997 360
60014198 Paretsky ,Harold 266659 $800.95 11/01/1997 360
60014200 Westerlund ,Joyce A 266682 $962.93 11/01/1997 360
60014207 Tucci ,Michael 266777 $564.29 11/01/1997 360
60014212 Diegelman ,Esther 266828 $1,607.03 11/01/1997 360
60014215 Blount ,Else H 266940 $636.61 11/01/1997 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>
60014166 Strickler ,C William $200,000.00 N
60014167 Camelo ,Michael S $195,000.00 N
60014177 Lim ,Kai Choo $206,000.00 N
60014179 Lamar ,Ronald V $216,800.00 N
60014184 Runyan ,Patrick M $101,000.00 N
60014185 Stauffer ,David $200,000.00 N
60014186 Hahle ,Susan $175,000.00 N
60014192 Blanco ,Carina $193,000.00 N
60014197 Parks ,Bonnita A $157,000.00 N
60014198 Paretsky ,Harold $148,000.00 N
60014200 Westerlund ,Joyce A $153,000.00 N
60014207 Tucci ,Michael $96,750.00 N
60014212 Diegelman ,Esther $300,000.00 N
60014215 Blount ,Else H $211,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014217 Delapp ,Patrick 15411 Peacock Hill Avenue Gig Harbor WA 98332 $99,878.39
60014227 Burgher ,Berisford 1191 Muirwood Drive Stone Mountain GA 30088 $67,417.93
60014236 Hook ,Paul Fran 95 Dockside Circle San Rafael CA 94903 $131,817.70
60014237 Fox ,Dianna 28691 Winthorp Circle Bonita Springs FL 34134 $179,769.65
60014241 Chichetti ,Matthew J 10 Jenny Lane Newburgh NY 12550 $150,652.53
60014248 Kofoed ,W. Arvin 515 North 200 East #14 Provo UT 84606 $67,385.20
60014276 Robertson ,Tom 20 Preston Road Fm 2909 Canton TX 75103 $99,875.26
60014278 Luttjohann ,James R. 26022 Alizia Canyon Road Calabasas CA 91302 $117,963.62
60014280 Ventresca, Jr.,Robert 38 Atlantic Street Newport RI 2840 $109,924.30
60014293 Swanson ,David L. 8050 S. E. Bybee Bouevard Portland OR 97206 $78,211.88
60014296 Boyd ,William O 6334 SE 21st Avenue Portland OR 97202 $109,855.59
60014304 Roberts ,Sally B 6871 North 2200 West #8- Park City UT 84098 $82,451.29
60014328 Marshall ,Perry A 402 Berkley Elmhurst IL 60126 $200,773.79
60014334 Cianciulli ,Anne 127 Marielle Lane East Norriton T PA 19401 $79,894.98
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014217 Delapp ,Patrick 8.500 .375 8.125 .0500 8.075 10/01/2027
60014227 Burgher ,Berisford 8.500 .375 8.125 .0500 8.075 10/01/2027
60014236 Hook ,Paul Fran 7.875 .375 7.500 .0500 7.450 10/01/2027
60014237 Fox ,Dianna 8.250 .375 7.875 .0500 7.825 10/01/2027
60014241 Chichetti ,Matthew J 8.625 .375 8.250 .0500 8.200 09/01/2027
60014248 Kofoed ,W. Arvin 8.625 .375 8.250 .0500 8.200 10/01/2027
60014276 Robertson ,Tom 8.375 .375 8.000 .0500 7.950 10/01/2027
60014278 Luttjohann ,James R. 8.750 .375 8.375 .0500 8.325 10/01/2027
60014280 Ventresca, Jr.,Robert 7.875 .375 7.500 .0500 7.450 10/01/2027
60014293 Swanson ,David L. 8.875 .375 8.500 .0500 8.450 09/01/2027
60014296 Boyd ,William O 8.125 .375 7.750 .0500 7.700 10/01/2027
60014304 Roberts ,Sally B 8.625 .375 8.250 .0500 8.200 10/01/2027
60014328 Marshall ,Perry A 8.875 .375 8.500 .0500 8.450 10/01/2027
60014334 Cianciulli ,Anne 8.125 .375 7.750 .0500 7.700 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014217 Delapp ,Patrick 266944 $768.92 11/01/1997 360
60014227 Burgher ,Berisford 267038 $519.02 11/01/1997 360
60014236 Hook ,Paul Fran 267120 $957.10 11/01/1997 360
60014237 Fox ,Dianna 267125 $1,352.28 11/01/1997 360
60014241 Chichetti ,Matthew J 267140 $1,175.43 11/01/1997 360
60014248 Kofoed ,W. Arvin 267186 $524.42 11/01/1997 360
60014276 Robertson ,Tom 267563 $760.07 11/01/1997 360
60014278 Luttjohann ,James R. 267597 $929.09 11/01/1997 360
60014280 Ventresca, Jr.,Robert 267605 $797.58 11/01/1997 360
60014293 Swanson ,David L. 267818 $622.99 11/01/1997 360
60014296 Boyd ,William O 267872 $816.75 11/01/1997 360
60014304 Roberts ,Sally B 268004 $641.68 11/01/1997 360
60014328 Marshall ,Perry A 268297 $1,599.25 11/01/1997 360
60014334 Cianciulli ,Anne 268446 $594.00 11/01/1997 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>
60014217 Delapp ,Patrick $134,000.00 N
60014227 Burgher ,Berisford $90,000.00 N
60014236 Hook ,Paul Fran $165,000.00 N
60014237 Fox ,Dianna $230,000.00 N
60014241 Chichetti ,Matthew J $201,500.00 N
60014248 Kofoed ,W. Arvin $90,000.00 N
60014276 Robertson ,Tom $125,000.00 N
60014278 Luttjohann ,James R. $157,500.00 N
60014280 Ventresca, Jr.,Robert $137,500.00 N
60014293 Swanson ,David L. $111,818.00 N
60014296 Boyd ,William O $173,000.00 N
60014304 Roberts ,Sally B $114,000.00 N
60014328 Marshall ,Perry A $275,000.00 N
60014334 Cianciulli ,Anne $151,695.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014340 Gamble ,David F 617 North Nevada Oceanside CA 92054 $76,701.70
60014341 Blum ,Daniel 411 Grant Place Frederick MD 21702 $78,951.38
60014344 Grant Sr. ,Robert E. 5715 Andover Road Wilmington NC 28403 $127,948.20
60014345 Bhathena ,Teresita 12313 Northeast 68th Plac Kirkland WA 98033 $74,915.61
60014347 Bauer ,John C. 137 Trombley Hill Road Hyde Park VT 5655 $74,913.38
60014362 Quilici ,Wilhelmen 21 Westover Court Pleasant Hill CA 94712 $183,526.57
60014366 Simpson ,James 1329 Mt. Pitt Avenue Medford OR 97501 $67,413.61
60014369 Turner ,Richard 32362 Lakeview Road Ne Coulee City WA 99115 $89,884.83
60014383 Vadnais ,Richard J 503 Highland Drive Chanhassen MN 55317 $115,359.56
60014385 Curia ,Michael 555 Juana Avenue San Leandro CA 94577 $99,875.24
60014395 Vaughan ,Raymond C 1313 Fox Meadow Circle Limerick Townsh PA 19468 $94,293.77
60014398 Layne ,Jerry D. 1533 James Street Escalon CA 95320 $58,232.66
60014403 Knoll ,Thomas E 2725 E. Wilbur Avenue Coeur D Alene ID 83814 $199,756.82
60014408 Mcclaflin ,Ronald D 3600 Koll Drive Newberg OR 97132 $206,948.07
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014340 Gamble ,David F 8.250 .375 7.875 .0500 7.825 10/01/2027
60014341 Blum ,Daniel 8.375 .375 8.000 .0500 7.950 09/01/2027
60014344 Grant Sr. ,Robert E. 8.625 .375 8.250 .0500 8.200 10/01/2027
60014345 Bhathena ,Teresita 8.875 .375 8.500 .0500 8.450 10/01/2027
60014347 Bauer ,John C. 8.750 .375 8.375 .0500 8.325 10/01/2027
60014362 Quilici ,Wilhelmen 8.500 .375 8.125 .0500 8.075 10/01/2027
60014366 Simpson ,James 8.250 .375 7.875 .0500 7.825 10/01/2027
60014369 Turner ,Richard 8.250 .375 7.875 .0500 7.825 10/01/2027
60014383 Vadnais ,Richard J 8.500 .375 8.125 .0500 8.075 10/01/2027
60014385 Curia ,Michael 8.375 .375 8.000 .0500 7.950 10/01/2027
60014395 Vaughan ,Raymond C 8.875 .375 8.500 .0500 8.450 10/01/2027
60014398 Layne ,Jerry D. 8.750 .375 8.375 .0500 8.325 10/01/2027
60014403 Knoll ,Thomas E 8.500 .375 8.125 .0500 8.075 10/01/2027
60014408 Mcclaflin ,Ronald D 8.500 .375 8.125 .0500 8.075 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014340 Gamble ,David F 268506 $576.98 11/01/1997 360
60014341 Blum ,Daniel 268511 $600.84 12 11/01/1997 360
60014344 Grant Sr. ,Robert E. 268574 $996.35 11/01/1997 360
60014345 Bhathena ,Teresita 268611 $596.73 11/01/1997 360
60014347 Bauer ,John C. 268617 $590.03 11/01/1997 360
60014362 Quilici ,Wilhelmen 268902 $1,412.88 11/01/1997 360
60014366 Simpson ,James 268922 $507.11 11/01/1997 360
60014369 Turner ,Richard 268989 $676.14 11/01/1997 360
60014383 Vadnais ,Richard J 269226 $888.10 11/01/1997 360
60014385 Curia ,Michael 269267 $760.08 11/01/1997 360
60014395 Vaughan ,Raymond C 269402 $751.09 11/01/1997 360
60014398 Layne ,Jerry D. 269446 $458.65 11/01/1997 360
60014403 Knoll ,Thomas E 269562 $1,537.83 11/01/1997 360
60014408 Mcclaflin ,Ronald D 269603 $1,593.19 11/01/1997 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>
60014340 Gamble ,David F $96,000.00 N
60014341 Blum ,Daniel $93,000.00 N
60014344 Grant Sr. ,Robert E. $170,800.00 N
60014345 Bhathena ,Teresita $180,000.00 N
60014347 Bauer ,John C. $125,000.00 N
60014362 Quilici ,Wilhelmen $245,000.00 N
60014366 Simpson ,James $90,000.00 N
60014369 Turner ,Richard $140,000.00 N
60014383 Vadnais ,Richard J $154,000.00 N
60014385 Curia ,Michael $125,000.00 N
60014395 Vaughan ,Raymond C $118,000.00 N
60014398 Layne ,Jerry D. $72,900.00 N
60014403 Knoll ,Thomas E $351,000.00 N
60014408 Mcclaflin ,Ronald D $259,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014412 Larsen ,Larry L 3425 Chelwood Road N E Albuquerque NM 87112 $105,171.96
60014415 Miller Jr ,James E 760 Ratchcliff Drive S E Salem OR 97302 $92,684.23
60014434 Hayes ,Richard A 1255 East North Way Dinuba CA 93618 $103,809.62
60014435 Mac Sleyne ,Timothy P 3425 Beaver Brook Canyon Evergreen CO 80439 $74,855.54
60014441 Larrabee Jr ,Richard H 2102 Forest Trail Austin TX 78703 $204,744.27
60014445 Bartolotta ,Christoph 14416 128th St Ne Arlington WA 98223 $130,920.64
60014451 Van Zandt ,Tom F. 1408 & 1410 Loma Alto Dri San Antonio TX 78232 $76,890.95
60014454 Pinter ,Ned W. 297 Carol Lane Miranda CA 95553 $168,534.04
60014456 Smith ,Mary T 5928 South Odessa Circle Aurora CO 80015 $105,175.22
60014459 Pieri ,Laura 7335 Bel Air Street Corona CA 91719 $187,753.20
60014470 Newton ,G. Peter 356 Warwick Avenue South South Orange NJ 7079 $164,800.00
60014473 Cummins ,Robert 11139 Sagewallow Lane Houston TX 77009 $64,920.96
60014480 Reichel ,Roberta 4353 East Campo Bello Dri Phoenix AZ 85032 $59,923.20
60014496 Misiuk ,Aleksande 6715 Se 83rd Avenue Portland OR 97266 $92,484.48
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014412 Larsen ,Larry L 8.500 .375 8.125 .0500 8.075 10/01/2027
60014415 Miller Jr ,James E 8.375 .375 8.000 .0500 7.950 10/01/2027
60014434 Hayes ,Richard A 8.500 .375 8.125 .0500 8.075 09/01/2027
60014435 Mac Sleyne ,Timothy P 8.250 .375 7.875 .0500 7.825 09/01/2027
60014441 Larrabee Jr ,Richard H 8.375 .375 8.000 .0500 7.950 10/01/2027
60014445 Bartolotta ,Christoph 8.500 .375 8.125 .0500 8.075 10/01/2027
60014451 Van Zandt ,Tom F. 7.750 .375 7.375 .0500 7.325 10/01/2027
60014454 Pinter ,Ned W. 8.250 .375 7.875 .0500 7.825 10/01/2027
60014456 Smith ,Mary T 8.625 .375 8.250 .0500 8.200 10/01/2027
60014459 Pieri ,Laura 8.125 .375 7.750 .0500 7.700 10/01/2027
60014470 Newton ,G. Peter 8.625 .375 8.250 .0500 8.200 11/01/2027
60014473 Cummins ,Robert 8.500 .375 8.125 .0500 8.075 10/01/2027
60014480 Reichel ,Roberta 8.250 .375 7.875 .0500 7.825 10/01/2027
60014496 Misiuk ,Aleksande 8.375 .375 8.000 .0500 7.950 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014412 Larsen ,Larry L 269658 $809.67 2 11/01/1997 360
60014415 Miller Jr ,James E 269671 $705.35 11/01/1997 360
60014434 Hayes ,Richard A 269854 $799.68 11/01/1997 360
60014435 Mac Sleyne ,Timothy P 269904 $563.45 11/01/1997 360
60014441 Larrabee Jr ,Richard H 269976 $1,558.15 11/01/1997 360
60014445 Bartolotta ,Christoph 270005 $1,007.28 11/01/1997 360
60014451 Van Zandt ,Tom F. 270054 $551.64 11/01/1997 360
60014454 Pinter ,Ned W. 270079 $1,267.77 11/01/1997 360
60014456 Smith ,Mary T 270093 $819.01 12 11/01/1997 360
60014459 Pieri ,Laura 270127 $1,395.90 11/01/1997 360
60014470 Newton ,G. Peter 270297 $1,281.80 11/01/1997 360
60014473 Cummins ,Robert 270335 $499.80 11/01/1997 360
60014480 Reichel ,Roberta 270365 $450.77 11/01/1997 360
60014496 Misiuk ,Aleksande 270612 $703.83 11/01/1997 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>
60014412 Larsen ,Larry L $117,000.00 N
60014415 Miller Jr ,James E $116,000.00 N
60014434 Hayes ,Richard A $130,000.00 N
60014435 Mac Sleyne ,Timothy P $94,000.00 N
60014441 Larrabee Jr ,Richard H $284,000.00 N
60014445 Bartolotta ,Christoph $290,000.00 N
60014451 Van Zandt ,Tom F. $110,000.00 N
60014454 Pinter ,Ned W. $230,000.00 N
60014456 Smith ,Mary T $117,000.00 N
60014459 Pieri ,Laura $235,000.00 N
60014470 Newton ,G. Peter $206,000.00 N
60014473 Cummins ,Robert $85,000.00 N
60014480 Reichel ,Roberta $116,000.00 N
60014496 Misiuk ,Aleksande $123,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014498 Bennett ,Joanne E 6229 Arabian Drive Hereford AZ 85615 $63,672.47
60014499 Vorbeck ,Susan Le 405 H Street Petaluma CA 94952 $168,184.48
60014512 Weston ,Rosemary 1625 West Morse Avenue Chicago IL 60626 $125,447.28
60014515 Wandle ,James W 1156 West Brooklyn Ave Salt Lake City UT 84104 $72,518.30
60014516 Maniscalco ,Cathrine 544 Schultz Road New Hanover Tow PA 18074 $116,900.00
60014517 Kaher ,Larry J. 5735 Cazadero Highway Cazadero CA 95421 $106,017.58
60014536 Joyner ,Michael A 5550 Old Orchard Geneva OH 44041 $108,000.00
60014540 Prudek ,Thomas E. 6571 North Maple Avenue Fresno CA 93710 $82,353.81
60014541 Shira ,J Kent 1301 South Edison Way Denver CO 80222 $130,191.50
60014550 Morales ,Raul 9621 Flametree Court Manassas VA 20110 $130,545.12
60014557 Mongeon ,Ernest L. 1917 Yellow Oak Drive Modesto CA 95354 $89,496.51
60014566 Parrott ,Diane 281 Lawson St Saline MI 48176 $114,271.25
60014576 Albert Sr ,Leo W 26109 Timber Trl Dearborn Height MI 48127 $135,621.72
60014583 Anaya ,Conrado A 696 N 17th Street San Jose CA 95112 $143,175.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014498 Bennett ,Joanne E 8.500 .375 8.125 .0500 8.075 10/01/2027
60014499 Vorbeck ,Susan Le 8.250 .375 7.875 .0500 7.825 10/01/2027
60014512 Weston ,Rosemary 8.500 .375 8.125 .0500 8.075 10/01/2027
60014515 Wandle ,James W 8.875 .375 8.500 .0500 8.450 09/01/2027
60014516 Maniscalco ,Cathrine 8.750 .375 8.375 .0500 8.325 11/01/2027
60014517 Kaher ,Larry J. 8.375 .375 8.000 .0500 7.950 10/01/2027
60014536 Joyner ,Michael A 8.500 .375 8.125 .0500 8.075 11/01/2027
60014540 Prudek ,Thomas E. 8.875 .375 8.500 .0500 8.450 10/01/2027
60014541 Shira ,J Kent 8.500 .375 8.125 .0500 8.075 10/01/2027
60014550 Morales ,Raul 8.625 .375 8.250 .0500 8.200 10/01/2027
60014557 Mongeon ,Ernest L. 8.750 .375 8.375 .0500 8.325 10/01/2027
60014566 Parrott ,Diane 8.875 .375 8.500 .0500 8.450 09/01/2027
60014576 Albert Sr ,Leo W 8.125 .375 7.750 .0500 7.700 10/01/2027
60014583 Anaya ,Conrado A 8.500 .375 8.125 .0500 8.075 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014498 Bennett ,Joanne E 270630 $490.19 11/01/1997 360
60014499 Vorbeck ,Susan Le 270636 $1,265.14 11/01/1997 360
60014512 Weston ,Rosemary 270850 $965.76 11/01/1997 360
60014515 Wandle ,James W 270868 $577.64 11/01/1997 360
60014516 Maniscalco ,Cathrine 270873 $919.65 11/01/1997 360
60014517 Kaher ,Larry J. 270876 $806.82 11/01/1997 360
60014536 Joyner ,Michael A 271030 $830.43 11/01/1997 360
60014540 Prudek ,Thomas E. 271051 $655.61 11/01/1997 360
60014541 Shira ,J Kent 271054 $1,002.28 11/01/1997 360
60014550 Morales ,Raul 271125 $1,016.57 11/01/1997 360
60014557 Mongeon ,Ernest L. 271191 $704.89 11/01/1997 360
60014566 Parrott ,Diane 271250 $910.22 11/01/1997 360
60014576 Albert Sr ,Leo W 271383 $1,008.32 11/01/1997 360
60014583 Anaya ,Conrado A 271487 $1,102.24 11/01/1997 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>
60014498 Bennett ,Joanne E $85,000.00 N
60014499 Vorbeck ,Susan Le $210,500.00 N
60014512 Weston ,Rosemary $157,000.00 N
60014515 Wandle ,James W $121,000.00 N
60014516 Maniscalco ,Cathrine $167,000.00 N
60014517 Kaher ,Larry J. $145,000.00 N
60014536 Joyner ,Michael A $135,000.00 N
60014540 Prudek ,Thomas E. $103,000.00 N
60014541 Shira ,J Kent $175,000.00 N
60014550 Morales ,Raul $163,790.00 N
60014557 Mongeon ,Ernest L. $112,000.00 N
60014566 Parrott ,Diane $143,000.00 N
60014576 Albert Sr ,Leo W $194,000.00 N
60014583 Anaya ,Conrado A $231,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014585 Julius ,Donald L. 3130 Palo Verde Drive Laughlin NV 89029 $82,402.23
60014588 Trampier ,Craig S. 1010 S. E. Park Avenue Corvallis OR 97333 $67,417.93
60014589 Carroll ,Robert St 5 Hunt Cup Circle Owings Mills MD 21117 $93,480.21
60014591 Almasan ,George Li 12211 Ditmore Drive Garden Grove CA 92841 $80,394.33
60014597 Wudarcki ,Lawrence 3167 Lakewood Way Boise ID 83706 $112,000.00
60014608 Argote ,Walter A 10705 Spring Oak Court Burke VA 22015 $88,092.74
60014625 Smith ,Douglass 10300 Waycross Avenue Louisville KY 40229 $59,927.04
60014627 Leal ,John T 9002 Sedgemoor Trail Austin TX 78748 $80,399.57
60014632 Shapiro ,Leslie 453 Turnpike Street, Unit Easton MA 2334 $87,898.37
60014635 Petrie ,Francis 262 Decatur Rd Stafford VA 22554 $59,928.91
60014638 Esterly ,Elizabeth 2625 E Windsor Circle Eugene OR 97405 $111,061.28
60014639 Esterly ,Elizabeth 3869 Peppertree Drive Eugene OR 97405 $87,890.21
60014647 Lopez ,Jose M. 8046 Radford Avenue North Hollywood CA 91605 $106,400.00
60014648 Trono ,Maryann W 301 Water Fowl Drive Yorktown VA 23692 $119,734.42
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014585 Julius ,Donald L. 8.625 .375 8.250 .0500 8.200 10/01/2027
60014588 Trampier ,Craig S. 8.500 .375 8.125 .0500 8.075 10/01/2027
60014589 Carroll ,Robert St 8.250 .375 7.875 .0500 7.825 10/01/2027
60014591 Almasan ,George Li 8.125 .375 7.750 .0500 7.700 10/01/2027
60014597 Wudarcki ,Lawrence 8.500 .375 8.125 .0500 8.075 11/01/2027
60014608 Argote ,Walter A 8.500 .375 8.125 .0500 8.075 10/01/2027
60014625 Smith ,Douglass 8.500 .375 8.125 .0500 8.075 09/01/2027
60014627 Leal ,John T 8.375 .375 8.000 .0500 7.950 09/01/2027
60014632 Shapiro ,Leslie 8.750 .375 8.375 .0500 8.325 10/01/2027
60014635 Petrie ,Francis 8.625 .375 8.250 .0500 8.200 09/01/2027
60014638 Esterly ,Elizabeth 8.375 .375 8.000 .0500 7.950 10/01/2027
60014639 Esterly ,Elizabeth 8.375 .375 8.000 .0500 7.950 10/01/2027
60014647 Lopez ,Jose M. 8.500 .375 8.125 .0500 8.075 11/01/2027
60014648 Trono ,Maryann W 7.875 .375 7.500 .0500 7.450 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014585 Julius ,Donald L. 271494 $641.68 11/01/1997 360
60014588 Trampier ,Craig S. 271511 $519.02 11/01/1997 360
60014589 Carroll ,Robert St 271513 $703.19 11/01/1997 360
60014591 Almasan ,George Li 271527 $597.71 11/01/1997 360
60014597 Wudarcki ,Lawrence 271591 $861.19 11/01/1997 360
60014608 Argote ,Walter A 271717 $678.19 11/01/1997 360
60014625 Smith ,Douglass 271926 $461.35 11/01/1997 360
60014627 Leal ,John T 271951 $611.86 11/01/1997 360
60014632 Shapiro ,Leslie 271986 $692.30 11/01/1997 360
60014635 Petrie ,Francis 272010 $466.67 11/01/1997 360
60014638 Esterly ,Elizabeth 272032 $845.20 11/01/1997 360
60014639 Esterly ,Elizabeth 272039 $668.87 11/01/1997 360
60014647 Lopez ,Jose M. 272078 $818.12 11/01/1997 360
60014648 Trono ,Maryann W 272103 $869.36 11/01/1997 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>
60014585 Julius ,Donald L. $110,000.00 N
60014588 Trampier ,Craig S. $90,000.00 N
60014589 Carroll ,Robert St $117,000.00 N
60014591 Almasan ,George Li $143,500.00 N
60014597 Wudarcki ,Lawrence $142,000.00 N
60014608 Argote ,Walter A $113,000.00 N
60014625 Smith ,Douglass $75,000.00 N
60014627 Leal ,John T $115,000.00 N
60014632 Shapiro ,Leslie $110,000.00 N
60014635 Petrie ,Francis $75,000.00 N
60014638 Esterly ,Elizabeth $139,000.00 N
60014639 Esterly ,Elizabeth $110,000.00 N
60014647 Lopez ,Jose M. $133,000.00 N
60014648 Trono ,Maryann W $239,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014658 Tafur ,Juan Carl 761 Sequoia Woods Place Concord CA 94518 $213,340.28
60014664 Voss ,John H W272 N 2695 Lakeview Blvd Pewaukee WI 53072 $66,874.64
60014683 Kluesener ,Herman B 3506 Canter Drive North Las Vegas NV 89030 $97,378.38
60014687 Austin ,Fred 29500 Jamaica Dunes Road Tehachapi CA 93561 $72,809.04
60014694 Becker ,H. Peter 319 Fairhaven Way Vallejo CA 94591 $179,207.54
60014695 Mcintyre ,Paul A 308 North 2860 East Circl St George UT 84790 $87,623.23
60014696 Gearin ,Scott P. 187 Low Street Newburyport MA 1950 $68,820.43
60014718 Schoeffel ,Elisabeth 4425 Old River Street Oceanside CA 92057 $99,884.52
60014722 Rice ,Stanford 1704 Minda Drive Eugene OR 97401 $63,922.19
60014724 Buenrostro ,Federico 8824 O Melveny Avenue Sun Valley CA 91352 $103,067.93
60014727 Milligan ,Fred 223 Madrid Street San Francisco CA 94112 $184,500.00
60014728 Hsu ,Ti-fei 151 Pearl Street Newton MA 2158 $179,797.43
60014732 King ,Patricia 10509 131st St. E Puyallup WA 98374 $100,000.00
60014735 Malter ,Jeffrey L 500 Sierra Hieghts Court Newbury Park CA 91320 $170,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014658 Tafur ,Juan Carl 8.500 .375 8.125 .0500 8.075 10/01/2027
60014664 Voss ,John H 8.875 .375 8.500 .0500 8.450 10/01/2027
60014683 Kluesener ,Herman B 8.375 .375 8.000 .0500 7.950 10/01/2027
60014687 Austin ,Fred 8.375 .375 8.000 .0500 7.950 10/01/2027
60014694 Becker ,H. Peter 7.625 .375 7.250 .0500 7.200 09/01/2027
60014695 Mcintyre ,Paul A 8.625 .375 8.250 .0500 8.200 10/01/2027
60014696 Gearin ,Scott P. 8.750 .375 8.375 .0500 8.325 10/01/2027
60014718 Schoeffel ,Elisabeth 8.750 .375 8.375 .0500 8.325 10/01/2027
60014722 Rice ,Stanford 8.500 .375 8.125 .0500 8.075 10/01/2027
60014724 Buenrostro ,Federico 8.250 .375 7.875 .0500 7.825 10/01/2027
60014727 Milligan ,Fred 8.750 .375 8.375 .0500 8.325 11/01/2027
60014728 Hsu ,Ti-fei 8.875 .375 8.500 .0500 8.450 10/01/2027
60014732 King ,Patricia 8.250 .375 7.875 .0500 7.825 11/01/2027
60014735 Malter ,Jeffrey L 8.625 .375 8.250 .0500 8.200 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014658 Tafur ,Juan Carl 272163 $1,642.40 11/01/1997 360
60014664 Voss ,John H 272184 $532.69 11/01/1997 360
60014683 Kluesener ,Herman B 272368 $741.07 11/01/1997 360
60014687 Austin ,Fred 272399 $554.10 7 11/01/1997 360
60014694 Becker ,H. Peter 272515 $1,271.20 11/01/1997 360
60014695 Mcintyre ,Paul A 272536 $681.93 11/01/1997 360
60014696 Gearin ,Scott P. 272542 $542.04 11/01/1997 360
60014718 Schoeffel ,Elisabeth 272727 $786.70 11/01/1997 360
60014722 Rice ,Stanford 272777 $492.10 11/01/1997 360
60014724 Buenrostro ,Federico 272786 $775.31 11/01/1997 360
60014727 Milligan ,Fred 272824 $1,451.46 11/01/1997 360
60014728 Hsu ,Ti-fei 272839 $1,432.16 11/01/1997 360
60014732 King ,Patricia 272862 $751.27 11/01/1997 360
60014735 Malter ,Jeffrey L 272916 $1,322.24 11/01/1997 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>
60014658 Tafur ,Juan Carl $267,000.00 N
60014664 Voss ,John H $103,000.00 N
60014683 Kluesener ,Herman B $127,500.00 N
60014687 Austin ,Fred $81,000.00 N
60014694 Becker ,H. Peter $224,500.00 N
60014695 Mcintyre ,Paul A $116,900.00 N
60014696 Gearin ,Scott P. $153,900.00 N
60014718 Schoeffel ,Elisabeth $187,000.00 N
60014722 Rice ,Stanford $80,000.00 N
60014724 Buenrostro ,Federico $129,000.00 N
60014727 Milligan ,Fred $246,000.00 N
60014728 Hsu ,Ti-fei $258,000.00 N
60014732 King ,Patricia $140,000.00 N
60014735 Malter ,Jeffrey L $235,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014746 Parmar ,Marilyn O 108 Harvey Street Norton MA 2766 $130,000.00
60014747 Coutu ,Jeffrey J 18 Pearson Street Chelmsford MA 1824 $112,000.00
60014756 Pacheco ,Sharon M. 90 Arreba Street Martinez CA 94553 $92,886.92
60014759 Walker ,jr ,Joeseph L 33 Boulder Lane Cedar Crest NM 87008 $109,931.63
60014765 Willis ,William T 8455 N. E. 12th Avenue Miami FL 33138 $116,108.66
60014769 Campbell ,Michael J 7604 Chipmunk Way Citrus Heights CA 95610 $121,427.79
60014783 Wilke ,Gary S. 5644 Roanoke Portage MI 49002 $52,371.42
60014784 Tram ,Van Quy 293 Priscilla Lane Aldan PA 19018 $102,284.76
60014791 Brantz ,Gary S. 6760 Manitowoc Drive Plano TX 75023 $81,098.71
60014794 Roesel ,Charles M 38169 Blue Circle Palm Desert CA 92260 $79,200.00
60014798 Whiting ,Mark S. 1320 West 1600 South Mapleton UT 84664 $145,000.00
60014801 Pankey ,Janice A 125 Foothill Blvd San Luis Obispo CA 93401 $119,846.43
60014802 Marini Jr. ,Frank A. 14 Jones Street Worcester MA 1604 $99,000.00
60014803 Silver ,Jack 3049 South Leyden Street Denver CO 80222 $128,185.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014746 Parmar ,Marilyn O 8.375 .375 8.000 .0500 7.950 11/01/2027
60014747 Coutu ,Jeffrey J 8.625 .375 8.250 .0500 8.200 11/01/2027
60014756 Pacheco ,Sharon M. 8.500 .375 8.125 .0500 8.075 10/01/2027
60014759 Walker ,jr ,Joeseph L 8.375 .375 8.000 .0500 7.950 10/01/2027
60014765 Willis ,William T 8.500 .375 8.125 .0500 8.075 10/01/2027
60014769 Campbell ,Michael J 7.750 .375 7.375 .0500 7.325 09/01/2027
60014783 Wilke ,Gary S. 8.500 .375 8.125 .0500 8.075 08/01/2027
60014784 Tram ,Van Quy 8.875 .375 8.500 .0500 8.450 10/01/2027
60014791 Brantz ,Gary S. 8.375 .375 8.000 .0500 7.950 10/01/2027
60014794 Roesel ,Charles M 8.500 .375 8.125 .0500 8.075 11/01/2027
60014798 Whiting ,Mark S. 8.625 .375 8.250 .0500 8.200 11/01/2027
60014801 Pankey ,Janice A 8.250 .375 7.875 .0500 7.825 09/01/2027
60014802 Marini Jr. ,Frank A. 8.750 .375 8.375 .0500 8.325 11/01/2027
60014803 Silver ,Jack 8.250 .375 7.875 .0500 7.825 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014746 Parmar ,Marilyn O 272991 $988.09 11/01/1997 360
60014747 Coutu ,Jeffrey J 272998 $871.12 11/01/1997 360
60014756 Pacheco ,Sharon M. 273101 $715.09 11/01/1997 360
60014759 Walker ,jr ,Joeseph L 273123 $836.08 11/01/1997 360
60014765 Willis ,William T 273169 $893.86 11/01/1997 360
60014769 Campbell ,Michael J 273190 $871.16 11/01/1997 360
60014783 Wilke ,Gary S. 273315 $403.68 11/01/1997 360
60014784 Tram ,Van Quy 273322 $814.74 11/01/1997 360
60014791 Brantz ,Gary S. 273421 $617.18 11/01/1997 360
60014794 Roesel ,Charles M 273444 $608.98 11/01/1997 360
60014798 Whiting ,Mark S. 273484 $1,127.80 11/01/1997 360
60014801 Pankey ,Janice A 273492 $901.52 11/01/1997 360
60014802 Marini Jr. ,Frank A. 273525 $778.83 19 11/01/1997 360
60014803 Silver ,Jack 273547 $964.25 11/01/1997 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>
60014746 Parmar ,Marilyn O $176,100.00 N
60014747 Coutu ,Jeffrey J $140,000.00 N
60014756 Pacheco ,Sharon M. $133,000.00 N
60014759 Walker ,jr ,Joeseph L $545,000.00 N
60014765 Willis ,William T $155,000.00 N
60014769 Campbell ,Michael J $152,000.00 N
60014783 Wilke ,Gary S. $70,000.00 N
60014784 Tram ,Van Quy $128,000.00 N
60014791 Brantz ,Gary S. $101,500.00 N
60014794 Roesel ,Charles M $99,000.00 N
60014798 Whiting ,Mark S. $288,000.00 N
60014801 Pankey ,Janice A $150,000.00 N
60014802 Marini Jr. ,Frank A. $110,000.00 N
60014803 Silver ,Jack $162,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014805 Macknight ,Lisa 5181 Thorn Tree Irvine CA 92612 $140,574.43
60014806 Ostrander ,Louise L 1430 Gulf Boulevard Clearwater FL 34630 $112,319.54
60014810 Morris ,Susan 17726 184th Avenue N E Woodinville WA 98072 $179,781.13
60014815 Beattie ,Dennis 14508 S E 7th Way Vancouver WA 98683 $83,653.27
60014816 Beattie ,Dennis W 702 S E 143rd Avenue Vancouver WA 98683 $105,880.70
60014817 Trimp ,Tony 6640 Camino De Luna Rancho Murieta CA 95683 $143,824.90
60014821 Macia ,Antonio 540 Brickell Key Drive Un Miami FL 33131 $115,600.00
60014824 Hurdle ,Renee 1971 Del Font Las Vegas NV 89131 $199,744.04
60014826 Beasley ,William 4692 Carpinteria Ave #9 Carpinteria CA 93013 $133,429.03
60014828 Furman ,Scott D 2143 Turk Road Doylestown Town PA 18901 $128,000.00
60014837 Campbell ,Wallace E 38 Merlin Court Oakland CA 94605 $207,567.76
60014838 Strickland ,George E 2651 Alister Avenue Tustin CA 92782 $118,818.35
60014839 Branson ,Lowell P 2121 East Kathleen Road Phoenix AZ 85022 $63,119.12
60014840 Poltere Jr ,John 544 & 544 1/2 South Coron Ventura CA 93001 $129,833.63
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014805 Macknight ,Lisa 8.375 .375 8.000 .0500 7.950 09/01/2027
60014806 Ostrander ,Louise L 7.125 .375 6.750 .0500 6.700 09/01/2027
60014810 Morris ,Susan 8.500 .375 8.125 .0500 8.075 10/01/2027
60014815 Beattie ,Dennis 8.750 .375 8.375 .0500 8.325 10/01/2027
60014816 Beattie ,Dennis W 8.875 .375 8.500 .0500 8.450 10/01/2027
60014817 Trimp ,Tony 8.500 .375 8.125 .0500 8.075 10/01/2027
60014821 Macia ,Antonio 8.875 .375 8.500 .0500 8.450 11/01/2027
60014824 Hurdle ,Renee 8.250 .375 7.875 .0500 7.825 10/01/2027
60014826 Beasley ,William 8.250 .375 7.875 .0500 7.825 09/01/2027
60014828 Furman ,Scott D 7.875 .375 7.500 .0500 7.450 11/01/2027
60014837 Campbell ,Wallace E 7.875 .375 7.500 .0500 7.450 09/01/2027
60014838 Strickland ,George E 7.375 .375 7.000 .0500 6.950 09/01/2027
60014839 Branson ,Lowell P 8.250 .375 7.875 .0500 7.825 09/01/2027
60014840 Poltere Jr ,John 8.250 .375 7.875 .0500 7.825 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014805 Macknight ,Lisa 273569 $1,069.80 11/01/1997 360
60014806 Ostrander ,Louise L 273601 $757.93 11/01/1997 360
60014810 Morris ,Susan 273654 $1,384.05 11/01/1997 360
60014815 Beattie ,Dennis 273726 $658.87 7 11/01/1997 360
60014816 Beattie ,Dennis W 273727 $843.39 11/01/1997 360
60014817 Trimp ,Tony 273729 $1,107.24 11/01/1997 360
60014821 Macia ,Antonio 273819 $919.77 11/01/1997 360
60014824 Hurdle ,Renee 273845 $1,502.54 11/01/1997 360
60014826 Beasley ,William 273855 $1,003.69 11/01/1997 360
60014828 Furman ,Scott D 273876 $928.09 11/01/1997 360
60014837 Campbell ,Wallace E 274005 $1,508.14 11/01/1997 360
60014838 Strickland ,George E 274013 $821.90 11/01/1997 360
60014839 Branson ,Lowell P 274033 $474.80 11/01/1997 360
60014840 Poltere Jr ,John 274043 $976.65 11/01/1997 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>
60014805 Macknight ,Lisa $175,970.00 N
60014806 Ostrander ,Louise L $150,000.00 N
60014810 Morris ,Susan $225,000.00 N
60014815 Beattie ,Dennis $93,100.00 N
60014816 Beattie ,Dennis W $132,500.00 N
60014817 Trimp ,Tony $180,000.00 N
60014821 Macia ,Antonio $144,500.00 N
60014824 Hurdle ,Renee $250,000.00 N
60014826 Beasley ,William $167,000.00 N
60014828 Furman ,Scott D $160,000.00 N
60014837 Campbell ,Wallace E $260,000.00 N
60014838 Strickland ,George E $269,900.00 N
60014839 Branson ,Lowell P $79,000.00 N
60014840 Poltere Jr ,John $200,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014843 Ruff ,Joseph W. 1808 Titus Road San Diego CA 92110 $179,662.01
60014845 Smith ,Jacquelin 410 & 412 Ciccone Drive Hendersonville NC 28739 $78,352.59
60014853 Butt ,Brian 13300 South 83rd Avenue Orland Park IL 60462 $107,868.68
60014858 Pjevach ,George A 9505 Amber Valley Lane Las Vegas NV 89134 $101,476.46
60014860 Soto ,Gustavo J 6806 Lumberjack Orlando FL 32818 $70,000.00
60014865 Salas ,Alfonso M 928-930 South Standard St Santa Ana CA 92701 $108,610.84
60014867 O Neal, Jr. ,William M 10389 Caminito Rio Bronco San Diego CA 92131 $115,855.30
60014874 Manley ,Robert P. 1533 Wyehka Way Mt. Shasta CA 96067 $150,000.00
60014875 Chen ,Jen-mao 301 Ridge Vista Avenue San Jose CA 95127 $172,500.00
60014876 Orme ,Phillip R 1109 Holly Avenue Chesapeake VA 23324 $63,918.08
60014878 Spangler ,Mark J 10206 NW 13th Lane Gainesville FL 32606 $164,349.01
60014891 Hughes ,Laura A. 2475 Walsh Glen Court Henderson NV 89012 $199,350.00
60014899 Peterson ,James F. 1187 Palou Avenue San Francisco CA 94124 $97,500.00
60014900 Peterson ,James F. 1123 Palou Avenue San Francisco CA 94124 $105,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014843 Ruff ,Joseph W. 8.375 .375 8.000 .0500 7.950 08/01/2027
60014845 Smith ,Jacquelin 8.375 .375 8.000 .0500 7.950 08/01/2027
60014853 Butt ,Brian 8.500 .375 8.125 .0500 8.075 09/01/2027
60014858 Pjevach ,George A 8.500 .375 8.125 .0500 8.075 10/01/2027
60014860 Soto ,Gustavo J 8.500 .375 8.125 .0500 8.075 11/01/2027
60014865 Salas ,Alfonso M 8.250 .375 7.875 .0500 7.825 09/01/2027
60014867 O Neal, Jr. ,William M 8.375 .375 8.000 .0500 7.950 10/01/2027
60014874 Manley ,Robert P. 8.500 .375 8.125 .0500 8.075 11/01/2027
60014875 Chen ,Jen-mao 8.500 .375 8.125 .0500 8.075 11/01/2027
60014876 Orme ,Phillip R 8.250 .375 7.875 .0500 7.825 09/01/2027
60014878 Spangler ,Mark J 7.750 .375 7.375 .0500 7.325 09/01/2027
60014891 Hughes ,Laura A. 8.250 .375 7.875 .0500 7.825 11/01/2027
60014899 Peterson ,James F. 8.375 .375 8.000 .0500 7.950 11/01/2027
60014900 Peterson ,James F. 8.375 .375 8.000 .0500 7.950 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014843 Ruff ,Joseph W. 274089 $1,368.13 11/01/1997 360
60014845 Smith ,Jacquelin 274111 $596.66 11/01/1997 360
60014853 Butt ,Brian 274162 $830.43 11/01/1997 360
60014858 Pjevach ,George A 274194 $781.22 11/01/1997 360
60014860 Soto ,Gustavo J 274227 $538.24 11/01/1997 360
60014865 Salas ,Alfonso M 274347 $817.00 11/01/1997 360
60014867 O Neal, Jr. ,William M 274392 $881.68 11/01/1997 360
60014874 Manley ,Robert P. 274473 $1,153.37 11/01/1997 360
60014875 Chen ,Jen-mao 274475 $1,326.38 11/01/1997 360
60014876 Orme ,Phillip R 274479 $480.82 11/01/1997 360
60014878 Spangler ,Mark J 274492 $1,179.93 11/01/1997 360
60014891 Hughes ,Laura A. 274649 $1,497.65 12 11/01/1997 360
60014899 Peterson ,James F. 274753 $741.07 11/01/1997 360
60014900 Peterson ,James F. 274755 $798.08 11/01/1997 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>
60014843 Ruff ,Joseph W. $240,000.00 N
60014845 Smith ,Jacquelin $118,500.00 N
60014853 Butt ,Brian $145,000.00 N
60014858 Pjevach ,George A $127,000.00 N
60014860 Soto ,Gustavo J $87,500.00 N
60014865 Salas ,Alfonso M $145,000.00 N
60014867 O Neal, Jr. ,William M $145,000.00 N
60014874 Manley ,Robert P. $225,000.00 N
60014875 Chen ,Jen-mao $230,000.00 N
60014876 Orme ,Phillip R $80,000.00 N
60014878 Spangler ,Mark J $219,607.00 N
60014891 Hughes ,Laura A. $209,855.00 N
60014899 Peterson ,James F. $130,000.00 N
60014900 Peterson ,James F. $141,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014921 Alekson ,Peter T 95 Chapin Street Canandaigua NY 14424 $66,118.84
60014936 Parsons ,Whitney E 100 East Cooper Avenue 2 Aspen CO 81611 $196,583.87
60014944 Dakan ,Charles W 514 West Harrison Street Colorado Spring CO 80907 $115,862.53
60014945 Easter ,Larry J 1931 Nw Hemlock Avenue Redmond OR 97756 $99,875.24
60014946 Calhoun ,Michael L 2800 Nordham Dr. Austin TX 78745 $59,813.74
60014947 Vondas ,Anastasio 7243 South Ora Court Greenbelt MD 20770 $96,000.00
60014950 Bollman ,James W. 5 N 692 Farrier Point Lan Saint Charles IL 60175 $199,633.93
60014955 Mccutcheon ,Robert M. 149 Narragansett Street Cranston RI 2905 $54,829.74
60014960 Borre ,Margaret 6075 Riverside Avenue Rialto CA 92377 $94,500.00
60014961 Reyes ,Gaston 4313 Brandywine Street N Washington DC 20016 $134,848.06
60014963 Cook ,Robert J. 940 91st Pl. Kenosha WI 53143 $84,893.95
60014964 Hood ,Marc 7204 Avenue W Lubbock TX 79423 $56,835.97
60014965 Schoeffield ,Kathleen 1584 Dellsway Road Baltimore MD 21286 $55,129.36
60014966 Mangione ,Michael A 209 Flint Ave. Cranston RI 2910 $55,184.52
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014921 Alekson ,Peter T 7.625 .375 7.250 .0500 7.200 09/01/2027
60014936 Parsons ,Whitney E 8.625 .375 8.250 .0500 8.200 10/01/2027
60014944 Dakan ,Charles W 8.625 .375 8.250 .0500 8.200 09/01/2027
60014945 Easter ,Larry J 8.375 .375 8.000 .0500 7.950 10/01/2027
60014946 Calhoun ,Michael L 8.500 .375 8.125 .0500 8.075 10/01/2027
60014947 Vondas ,Anastasio 8.500 .375 8.125 .0500 8.075 11/01/2027
60014950 Bollman ,James W. 8.500 .375 8.125 .0500 8.075 09/01/2027
60014955 Mccutcheon ,Robert M. 8.250 .375 7.875 .0500 7.825 09/01/2027
60014960 Borre ,Margaret 8.500 .375 8.125 .0500 8.075 11/01/2027
60014961 Reyes ,Gaston 8.875 .375 8.500 .0500 8.450 09/01/2027
60014963 Cook ,Robert J. 8.375 .375 8.000 .0500 7.950 09/01/2027
60014964 Hood ,Marc 8.875 .375 8.500 .0500 8.450 09/01/2027
60014965 Schoeffield ,Kathleen 8.250 .375 7.875 .0500 7.825 09/01/2027
60014966 Mangione ,Michael A 8.625 .375 8.250 .0500 8.200 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014921 Alekson ,Peter T 274970 $468.67 12 11/01/1997 360
60014936 Parsons ,Whitney E 275147 $1,529.91 11/01/1997 360
60014944 Dakan ,Charles W 275195 $902.24 11/01/1997 360
60014945 Easter ,Larry J 275202 $760.08 11/01/1997 360
60014946 Calhoun ,Michael L 275211 $460.20 11/01/1997 360
60014947 Vondas ,Anastasio 275232 $738.16 11/01/1997 360
60014950 Bollman ,James W. 275285 $1,537.83 11/01/1997 360
60014955 Mccutcheon ,Robert M. 275344 $412.45 12 11/01/1997 360
60014960 Borre ,Margaret 275388 $726.63 11/01/1997 360
60014961 Reyes ,Gaston 275390 $1,074.13 11/01/1997 360
60014963 Cook ,Robert J. 275405 $646.07 11/01/1997 360
60014964 Hood ,Marc 275409 $452.72 7 11/01/1997 360
60014965 Schoeffield ,Kathleen 275410 $414.70 11/01/1997 360
60014966 Mangione ,Michael A 275415 $429.73 12 11/01/1997 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>
60014921 Alekson ,Peter T $77,900.00 N
60014936 Parsons ,Whitney E $281,000.00 N
60014944 Dakan ,Charles W $161,000.00 N
60014945 Easter ,Larry J $240,000.00 N
60014946 Calhoun ,Michael L $85,500.00 N
60014947 Vondas ,Anastasio $146,000.00 N
60014950 Bollman ,James W. $310,000.00 N
60014955 Mccutcheon ,Robert M. $61,000.00 N
60014960 Borre ,Margaret $135,000.00 N
60014961 Reyes ,Gaston $280,000.00 N
60014963 Cook ,Robert J. $150,000.00 N
60014964 Hood ,Marc $67,000.00 N
60014965 Schoeffield ,Kathleen $123,900.00 N
60014966 Mangione ,Michael A $65,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014968 Myers ,Robert H 221-225 West 20th Street Pueblo CO 81003 $69,082.75
60014970 Tiet ,Heidi Vo 11 La Torre Avenue Phillips Ranch CA 91766 $199,500.00
60014972 Copeland ,Isaiah 462 Lewis Boulevard S. E. Saint Petersbur FL 33705 $78,204.80
60014973 Grebler ,David M. 4803 Laurella Ave. Saint Louis MO 63119 $80,504.48
60014974 Grebler ,David M. 7422 Williams Ave. Saint Louis MO 63117 $61,776.69
60014975 Caestecker ,Anne A. 1508 North View Drive Thousand Oaks CA 91362 $104,000.00
60014984 Fuller ,Daniel H 8067 South Quince Circle Englewood CO 80112 $124,348.62
60014990 Cotter III ,Ralph E 10380 Pine Cone Drive Truckee CA 96161 $165,803.27
60014996 Sommer ,Gisela 3760 Granada Avenue San Diego CA 92104 $103,800.00
60014998 Cobb ,James D 378 Adams Street Glencoe IL 60022 $69,921.23
60014999 Tinsley ,Timothy M 3334 West 5th Avenue Belle WV 25015 $53,874.36
60015000 Flores ,Larry J 1338 Mt. Shasta Avenue Milpitas CA 95035 $132,000.00
60015001 Kennefick ,Sarah E 5 Peters Street South Boston MA 2127 $176,476.40
60015003 Sidwell ,Jeffrey L 79 West 700 North Bountiful UT 84010 $87,900.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014968 Myers ,Robert H 8.875 .375 8.500 .0500 8.450 08/01/2027
60014970 Tiet ,Heidi Vo 8.500 .375 8.125 .0500 8.075 11/01/2027
60014972 Copeland ,Isaiah 8.500 .375 8.125 .0500 8.075 09/01/2027
60014973 Grebler ,David M. 8.625 .375 8.250 .0500 8.200 09/01/2027
60014974 Grebler ,David M. 8.625 .375 8.250 .0500 8.200 09/01/2027
60014975 Caestecker ,Anne A. 8.250 .375 7.875 .0500 7.825 11/01/2027
60014984 Fuller ,Daniel H 8.500 .375 8.125 .0500 8.075 10/01/2027
60014990 Cotter III ,Ralph E 8.625 .375 8.250 .0500 8.200 10/01/2027
60014996 Sommer ,Gisela 7.875 .375 7.500 .0500 7.450 11/01/2027
60014998 Cobb ,James D 8.875 .375 8.500 .0500 8.450 10/01/2027
60014999 Tinsley ,Timothy M 8.750 .375 8.375 .0500 8.325 08/01/2027
60015000 Flores ,Larry J 7.750 .375 7.375 .0500 7.325 11/01/2027
60015001 Kennefick ,Sarah E 8.500 .375 8.125 .0500 8.075 09/01/2027
60015003 Sidwell ,Jeffrey L 8.625 .375 8.250 .0500 8.200 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014968 Myers ,Robert H 275434 $550.59 2 11/01/1997 360
60014970 Tiet ,Heidi Vo 275450 $1,533.98 11/01/1997 360
60014972 Copeland ,Isaiah 275457 $602.06 2 11/01/1997 360
60014973 Grebler ,David M. 275460 $626.90 11/01/1997 360
60014974 Grebler ,David M. 275462 $481.07 11/01/1997 360
60014975 Caestecker ,Anne A. 275480 $781.32 11/01/1997 360
60014984 Fuller ,Daniel H 275565 $957.30 11/01/1997 360
60014990 Cotter III ,Ralph E 275607 $1,291.14 11/01/1997 360
60014996 Sommer ,Gisela 275691 $752.62 11/01/1997 360
60014998 Cobb ,James D 275700 $556.95 11/01/1997 360
60014999 Tinsley ,Timothy M 275707 $424.82 11/01/1997 360
60015000 Flores ,Larry J 275722 $945.67 11/01/1997 360
60015001 Kennefick ,Sarah E 275728 $1,359.44 11/01/1997 360
60015003 Sidwell ,Jeffrey L 275753 $683.68 11/01/1997 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>
60014968 Myers ,Robert H $88,000.00 N
60014970 Tiet ,Heidi Vo $285,000.00 N
60014972 Copeland ,Isaiah $87,000.00 N
60014973 Grebler ,David M. $107,500.00 N
60014974 Grebler ,David M. $82,500.00 N
60014975 Caestecker ,Anne A. $204,000.00 N
60014984 Fuller ,Daniel H $174,000.00 N
60014990 Cotter III ,Ralph E $454,000.00 N
60014996 Sommer ,Gisela $129,750.00 N
60014998 Cobb ,James D $307,000.00 N
60014999 Tinsley ,Timothy M $67,500.00 N
60015000 Flores ,Larry J $214,000.00 N
60015001 Kennefick ,Sarah E $272,000.00 N
60015003 Sidwell ,Jeffrey L $120,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015007 Staszewski ,George F 13111 West Playfield Driv Crestwood IL 60445 $52,534.38
60015008 Van Horn ,Alisa R 71 West 800 North Bountiful UT 84010 $80,396.98
60015018 Lee ,Janice 1015 South Neveda Street Oceanside CA 92054 $112,469.47
60015028 Melena ,Christina 2847 Annette Street Oceanside CA 92056 $76,000.00
60015051 Lorch ,Monica D. 5 Gatehouse Lane Doylestown Town PA 18901 $75,000.00
60015055 Sullivan ,Michael G 3 Wesley Court Congers NY 10920 $184,000.00
60015056 Clark ,Kenneth 1111 W Ocean View Avenue Norfolk VA 23503 $65,882.23
60015057 Minsel ,Peter E 6826 Hidden Lane Trail Brecksville OH 44141 $158,267.14
60015059 Hennesay ,Lance 896 North De Wolf Avenue Fresno CA 93727 $200,508.41
60015078 Hughes ,Daniel P 237 Zieglersville Road Schwenksville PA 19473 $85,403.77
60015092 Nanni ,Linda 142 Ritchie Court Henderson NV 89012 $147,615.62
60015093 Haselman ,Alexandri 1333 Avatar Drive Powhatan VA 23139 $63,863.62
60015100 Puffin ,Bobby 2460 June Street Hood River OR 97031 $96,629.30
60015101 Houck ,Maxwell 1910 Blue Spruce Drive Oakdale CA 95361 $89,890.55
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015007 Staszewski ,George F 8.375 .375 8.000 .0500 7.950 10/01/2027
60015008 Van Horn ,Alisa R 8.250 .375 7.875 .0500 7.825 10/01/2027
60015018 Lee ,Janice 7.875 .375 7.500 .0500 7.450 10/01/2027
60015028 Melena ,Christina 8.500 .375 8.125 .0500 8.075 11/01/2027
60015051 Lorch ,Monica D. 8.875 .375 8.500 .0500 8.450 11/01/2027
60015055 Sullivan ,Michael G 7.875 .375 7.500 .0500 7.450 11/01/2027
60015056 Clark ,Kenneth 8.625 .375 8.250 .0500 8.200 09/01/2027
60015057 Minsel ,Peter E 8.625 .375 8.250 .0500 8.200 09/01/2027
60015059 Hennesay ,Lance 7.625 .375 7.250 .0500 7.200 10/01/2027
60015078 Hughes ,Daniel P 8.875 .375 8.500 .0500 8.450 10/01/2027
60015092 Nanni ,Linda 8.375 .375 8.000 .0500 7.950 10/01/2027
60015093 Haselman ,Alexandri 7.750 .375 7.375 .0500 7.325 09/01/2027
60015100 Puffin ,Bobby 8.375 .375 8.000 .0500 7.950 10/01/2027
60015101 Houck ,Maxwell 8.500 .375 8.125 .0500 8.075 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015007 Staszewski ,George F 275809 $399.80 11/01/1997 360
60015008 Van Horn ,Alisa R 275816 $604.77 11/01/1997 360
60015018 Lee ,Janice 275895 $816.61 2 11/01/1997 360
60015028 Melena ,Christina 276056 $584.37 11/01/1997 360
60015051 Lorch ,Monica D. 276358 $596.73 11/01/1997 360
60015055 Sullivan ,Michael G 276385 $1,334.13 11/01/1997 360
60015056 Clark ,Kenneth 276402 $513.35 11/01/1997 360
60015057 Minsel ,Peter E 276410 $1,233.19 11/01/1997 360
60015059 Hennesay ,Lance 276452 $1,421.25 11/01/1997 360
60015078 Hughes ,Daniel P 276672 $680.28 15 11/01/1997 360
60015092 Nanni ,Linda 276893 $1,123.39 11/01/1997 360
60015093 Haselman ,Alexandri 276925 $458.50 11/01/1997 360
60015100 Puffin ,Bobby 276988 $735.37 11/01/1997 360
60015101 Houck ,Maxwell 276999 $692.03 11/01/1997 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>
60015007 Staszewski ,George F $122,000.00 N
60015008 Van Horn ,Alisa R $102,500.00 N
60015018 Lee ,Janice $132,500.00 N
60015028 Melena ,Christina $95,000.00 N
60015051 Lorch ,Monica D. $98,000.00 N
60015055 Sullivan ,Michael G $230,000.00 N
60015056 Clark ,Kenneth $88,000.00 N
60015057 Minsel ,Peter E $198,213.00 N
60015059 Hennesay ,Lance $251,000.00 N
60015078 Hughes ,Daniel P $95,000.00 N
60015092 Nanni ,Linda $197,087.00 N
60015093 Haselman ,Alexandri $80,000.00 N
60015100 Puffin ,Bobby $129,000.00 N
60015101 Houck ,Maxwell $120,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015115 Rookasin - Kar,Iris H 940 East Waters Avenue Aspen CO 81611 $79,799.00
60015120 Dunlap, Jr. ,Bryant O. 4330 Pin Oak Drive Durham NC 27707 $84,454.85
60015128 Huang ,Hui Xia 13807 Sycamore Village Dr Midlothian VA 23113 $78,438.74
60015130 Kelley Jr ,Richard R 565 Addison Street Palo Alto CA 94301 $117,832.89
60015132 Kelley, Jr. ,Richard R 563 Addison Street Palo Alto CA 94301 $117,832.89
60015138 Harrelson ,James A 8775 Chipita Park Road Cascade CO 80809 $158,901.06
60015149 Findley Jr. ,Bobby D 210 Hunters Road Myrtle Beach SC 29577 $67,424.02
60015150 Cloyd ,Randolph 200 West Queens Drive Williamsburg VA 23185 $149,817.62
60015153 Seeley ,Elizebeth 50 Nightingale Lane Tijeras NM 87059 $83,900.44
60015156 Curiel ,Valentin 3200 Sondiesa Way Elk Grove CA 95758 $59,912.86
60015165 Pinter ,Bence I. 968 Thomasson Lane Paradise CA 95969 $74,862.71
60015178 Lattin ,Jennifer 925 Green Lane Prescott AZ 86301 $69,914.88
60015179 Geiszler ,Mark H 1345 Stoneham St. superior CO 80027 $132,829.79
60015180 Baker ,Preston K 10712 Sandpiper Street Boise ID 83709 $166,586.53
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015115 Rookasin - Kar,Iris H 8.375 .375 8.000 .0500 7.950 08/01/2027
60015120 Dunlap, Jr. ,Bryant O. 8.875 .375 8.500 .0500 8.450 10/01/2027
60015128 Huang ,Hui Xia 7.750 .375 7.375 .0500 7.325 10/01/2027
60015130 Kelley Jr ,Richard R 7.750 .375 7.375 .0500 7.325 10/01/2027
60015132 Kelley, Jr. ,Richard R 7.750 .375 7.375 .0500 7.325 10/01/2027
60015138 Harrelson ,James A 8.375 .375 8.000 .0500 7.950 09/01/2027
60015149 Findley Jr. ,Bobby D 8.875 .375 8.500 .0500 8.450 10/01/2027
60015150 Cloyd ,Randolph 8.500 .375 8.125 .0500 8.075 10/01/2027
60015153 Seeley ,Elizebeth 8.625 .375 8.250 .0500 8.200 10/01/2027
60015156 Curiel ,Valentin 7.625 .375 7.250 .0500 7.200 10/01/2027
60015165 Pinter ,Bence I. 8.500 .375 8.125 .0500 8.075 09/01/2027
60015178 Lattin ,Jennifer 8.500 .375 8.125 .0500 8.075 10/01/2027
60015179 Geiszler ,Mark H 8.250 .375 7.875 .0500 7.825 10/01/2027
60015180 Baker ,Preston K 8.250 .375 7.875 .0500 7.825 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015115 Rookasin - Kar,Iris H 277122 $608.06 11/01/1997 360
60015120 Dunlap, Jr. ,Bryant O. 277207 $672.72 2 11/01/1997 360
60015128 Huang ,Hui Xia 277387 $562.75 11/01/1997 360
60015130 Kelley Jr ,Richard R 277390 $845.37 11/01/1997 360
60015132 Kelley, Jr. ,Richard R 277395 $845.37 11/01/1997 360
60015138 Harrelson ,James A 277441 $1,210.04 11/01/1997 360
60015149 Findley Jr. ,Bobby D 277651 $537.07 2 11/01/1997 360
60015150 Cloyd ,Randolph 277655 $1,153.37 11/01/1997 360
60015153 Seeley ,Elizebeth 277694 $653.35 11/01/1997 360
60015156 Curiel ,Valentin 277798 $424.68 11/01/1997 360
60015165 Pinter ,Bence I. 277900 $576.69 11/01/1997 360
60015178 Lattin ,Jennifer 278082 $538.24 11/01/1997 360
60015179 Geiszler ,Mark H 278124 $999.19 11/01/1997 360
60015180 Baker ,Preston K 278128 $1,253.12 11/01/1997 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>
60015115 Rookasin - Kar,Iris H $192,000.00 N
60015120 Dunlap, Jr. ,Bryant O. $105,730.00 N
60015128 Huang ,Hui Xia $98,220.00 N
60015130 Kelley Jr ,Richard R $412,000.00 N
60015132 Kelley, Jr. ,Richard R $412,000.00 N
60015138 Harrelson ,James A $199,000.00 N
60015149 Findley Jr. ,Bobby D $75,000.00 N
60015150 Cloyd ,Randolph $188,000.00 N
60015153 Seeley ,Elizebeth $105,000.00 N
60015156 Curiel ,Valentin $130,990.00 N
60015165 Pinter ,Bence I. $100,000.00 N
60015178 Lattin ,Jennifer $121,000.00 N
60015179 Geiszler ,Mark H $178,916.00 N
60015180 Baker ,Preston K $208,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015184 Creel ,William E 2703 Altony Drive Marietta GA 30064 $71,167.72
60015187 Frederiksen ,Renee K 3784 Butternut Avenue Loveland CO 80538 $77,500.68
60015189 Perry ,Katherine 4342 Northwood Drive Hathaway Pines CA 95233 $71,165.56
60015192 Paulin ,Ricardo J 12060 N. W 10 Street Coral Springs FL 33071 $160,697.67
60015193 Orgren ,John 121 Ne 92nd Street Miami FL 33138 $106,205.27
60015194 Thurber ,Karl G 2912 West Lehman Avenue Salt Lake City UT 84119 $77,163.06
60015207 Schwarz ,Raymond E 1594-96 Lakeland Avenue Lakewood OH 44107 $93,626.92
60015211 Adam ,Donald J 20 Balch Way Piscataway NJ 8854 $134,609.11
60015212 Runge ,Glen W 7134 Washington Street Sutter CA 95982 $69,914.88
60015213 Tsigas ,John 2191 93 Wascana Avenue Lakewood OH 44107 $92,600.00
60015220 Phommaneth ,Keith 17546 Nw Bernard Place Beaverton OR 97006 $155,728.79
60015224 Shumaker ,Robert E 5746 Autumn Hill Court Columbus OH 43235 $54,938.11
60015225 Sparks ,Randall D 2234 Pommel Avenue Las Vegas NV 89119 $90,000.00
60015228 Fernandes ,Debra L 29 South Main Street Berkley MA 2779 $89,893.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015184 Creel ,William E 8.750 .375 8.375 .0500 8.325 10/01/2027
60015187 Frederiksen ,Renee K 8.250 .375 7.875 .0500 7.825 10/01/2027
60015189 Perry ,Katherine 8.625 .375 8.250 .0500 8.200 10/01/2027
60015192 Paulin ,Ricardo J 8.375 .375 8.000 .0500 7.950 09/01/2027
60015193 Orgren ,John 8.500 .375 8.125 .0500 8.075 09/01/2027
60015194 Thurber ,Karl G 8.875 .375 8.500 .0500 8.450 10/01/2027
60015207 Schwarz ,Raymond E 8.125 .375 7.750 .0500 7.700 10/01/2027
60015211 Adam ,Donald J 7.750 .375 7.375 .0500 7.325 10/01/2027
60015212 Runge ,Glen W 8.500 .375 8.125 .0500 8.075 10/01/2027
60015213 Tsigas ,John 8.625 .375 8.250 .0500 8.200 11/01/2027
60015220 Phommaneth ,Keith 8.750 .375 8.375 .0500 8.325 09/01/2027
60015224 Shumaker ,Robert E 8.875 .375 8.500 .0500 8.450 10/01/2027
60015225 Sparks ,Randall D 8.125 .375 7.750 .0500 7.700 11/01/2027
60015228 Fernandes ,Debra L 8.625 .375 8.250 .0500 8.200 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015184 Creel ,William E 278201 $560.52 11/01/1997 360
60015187 Frederiksen ,Renee K 278235 $582.99 11/01/1997 360
60015189 Perry ,Katherine 278277 $554.18 11/01/1997 360
60015192 Paulin ,Ricardo J 278326 $1,223.72 11/01/1997 360
60015193 Orgren ,John 278328 $818.12 11/01/1997 360
60015194 Thurber ,Karl G 278331 $614.64 11/01/1997 360
60015207 Schwarz ,Raymond E 278536 $696.10 11/01/1997 360
60015211 Adam ,Donald J 278609 $965.72 11/01/1997 360
60015212 Runge ,Glen W 278613 $538.24 11/01/1997 360
60015213 Tsigas ,John 278629 $720.24 11/01/1997 360
60015220 Phommaneth ,Keith 278732 $1,227.25 11/01/1997 360
60015224 Shumaker ,Robert E 278835 $437.60 11/01/1997 360
60015225 Sparks ,Randall D 278855 $668.25 11/01/1997 360
60015228 Fernandes ,Debra L 278924 $700.02 11/01/1997 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>
60015184 Creel ,William E $95,000.00 N
60015187 Frederiksen ,Renee K $97,000.00 N
60015189 Perry ,Katherine $96,250.00 N
60015192 Paulin ,Ricardo J $420,000.00 N
60015193 Orgren ,John $133,000.00 N
60015194 Thurber ,Karl G $103,000.00 N
60015207 Schwarz ,Raymond E $125,000.00 N
60015211 Adam ,Donald J $168,500.00 N
60015212 Runge ,Glen W $115,500.00 N
60015213 Tsigas ,John $123,500.00 N
60015220 Phommaneth ,Keith $215,000.00 N
60015224 Shumaker ,Robert E $151,000.00 N
60015225 Sparks ,Randall D $120,000.00 N
60015228 Fernandes ,Debra L $179,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015231 Lombardo ,Risa 6833 West Carol Avenue Peoria AZ 85345 $58,926.40
60015233 Houck ,Maxwell G 1921 Sugar Pine Drive Oakdale CA 95361 $89,141.47
60015240 Evans ,Roger A 1635 Ahart Street Simi Valley CA 93065 $108,361.16
60015241 Neis ,Michael J 519-21 21c East 54th Stre Indianapolis IN 46220 $139,343.02
60015242 Mc Donald ,Carol A. 7240 East Manzanita Drive Scottsdale AZ 85258 $120,832.92
60015246 Fusaro ,Robert S 7819 Mount Diablo Court Fair Oaks CA 95628 $151,301.11
60015247 Hoffman ,Joseph An 148 Hopper Lane Folsom CA 95630 $169,377.35
60015248 Hess ,Janice J 5325 Corbett Circle Santa Rosa CA 95403 $107,362.41
60015251 Hayashi ,Hinako 885 S. Orange Grove Blvd. Pasadena CA 91105 $99,872.02
60015252 Thomas ,C. F. 658 North Village Green S Porterville CA 93257 $62,919.38
60015253 Leffas ,James 11815 Caminito Ryone San Diego CA 92128 $100,000.00
60015256 Saephan ,Kao Liam 1430 Se 148th Avenue Portland OR 97233 $74,888.33
60015266 Maggio ,Jeffrey M 1125 Monterra Greems Aven Las Vegas NV 89123 $105,215.18
60015268 Santiago ,Robert J 3010 Albin Drive San Antonio TX 78209 $97,248.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015231 Lombardo ,Risa 8.375 .375 8.000 .0500 7.950 10/01/2027
60015233 Houck ,Maxwell G 8.500 .375 8.125 .0500 8.075 10/01/2027
60015240 Evans ,Roger A 8.250 .375 7.875 .0500 7.825 10/01/2027
60015241 Neis ,Michael J 8.875 .375 8.500 .0500 8.450 10/01/2027
60015242 Mc Donald ,Carol A. 7.875 .375 7.500 .0500 7.450 10/01/2027
60015246 Fusaro ,Robert S 8.125 .375 7.750 .0500 7.700 10/01/2027
60015247 Hoffman ,Joseph An 8.125 .375 7.750 .0500 7.700 10/01/2027
60015248 Hess ,Janice J 8.250 .375 7.875 .0500 7.825 10/01/2027
60015251 Hayashi ,Hinako 8.250 .375 7.875 .0500 7.825 10/01/2027
60015252 Thomas ,C. F. 8.250 .375 7.875 .0500 7.825 10/01/2027
60015253 Leffas ,James 7.875 .375 7.500 .0500 7.450 11/01/2027
60015256 Saephan ,Kao Liam 7.500 .375 7.125 .0500 7.075 10/01/2027
60015266 Maggio ,Jeffrey M 8.250 .375 7.875 .0500 7.825 10/01/2027
60015268 Santiago ,Robert J 8.250 .375 7.875 .0500 7.825 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015231 Lombardo ,Risa 278981 $448.44 7 11/01/1997 360
60015233 Houck ,Maxwell G 279046 $686.26 11/01/1997 360
60015240 Evans ,Roger A 279228 $815.12 11/01/1997 360
60015241 Neis ,Michael J 279230 $1,109.92 12 11/01/1997 360
60015242 Mc Donald ,Carol A. 279238 $877.33 11/01/1997 360
60015246 Fusaro ,Robert S 279325 $1,124.89 11/01/1997 360
60015247 Hoffman ,Joseph An 279342 $1,259.28 11/01/1997 360
60015248 Hess ,Janice J 279344 $807.62 11/01/1997 360
60015251 Hayashi ,Hinako 279423 $751.27 11/01/1997 360
60015252 Thomas ,C. F. 279442 $473.30 11/01/1997 360
60015253 Leffas ,James 279448 $725.07 11/01/1997 360
60015256 Saephan ,Kao Liam 279600 $524.41 11/01/1997 360
60015266 Maggio ,Jeffrey M 279856 $791.46 11/01/1997 360
60015268 Santiago ,Robert J 279885 $732.48 11/01/1997 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>
60015231 Lombardo ,Risa $67,000.00 N
60015233 Houck ,Maxwell G $119,000.00 N
60015240 Evans ,Roger A $155,000.00 N
60015241 Neis ,Michael J $155,000.00 N
60015242 Mc Donald ,Carol A. $176,000.00 N
60015246 Fusaro ,Robert S $202,500.00 N
60015247 Hoffman ,Joseph An $212,000.00 N
60015248 Hess ,Janice J $182,000.00 N
60015251 Hayashi ,Hinako $315,000.00 N
60015252 Thomas ,C. F. $79,000.00 N
60015253 Leffas ,James $178,000.00 N
60015256 Saephan ,Kao Liam $115,000.00 N
60015266 Maggio ,Jeffrey M $131,690.00 N
60015268 Santiago ,Robert J $130,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015270 Keoho ,Ann Marie 4505 South Alder Drive Tempe AZ 85282 $80,843.96
60015272 Holloway ,Tammy 274 Eden Valley Road Rome GA 30161 $102,212.57
60015280 Rawlins ,Atom Jon 7 Boulder Lane Cedar Crest NM 87008 $152,199.94
60015281 Mehr ,Bijan 68-70 Rhodes Circle Hingham MA 2043 $116,000.00
60015282 Mc Guigan ,Joseph T. 1941 North 360 East Provo UT 84604 $135,757.39
60015285 Hider ,Maurice J 2088 Old Forge Way Marietta GA 30068 $105,381.26
60015286 Schafer ,John F. 100 Laurelwood Lane Alpharetta GA 30004 $95,891.96
60015291 Hewitt ,Jean Q. 1520 Misty Wood Drive Roseville CA 95747 $127,500.00
60015292 Foulkes ,Peggy A. 18710 90th St. N Loxahatchee FL 33470 $145,600.00
60015295 Dally ,Salah M. 5510 Bend Street Capital Heights MD 20743 $87,898.37
60015296 Lee ,Thad M. 2112 Grider Road Mobile AL 36618 $151,016.15
60015297 Notartomaso ,Michael A 354 Cuscowilla Drive, N E Eatonton GA 31024 $199,525.21
60015298 Maiden ,Lucy A 3109 Village Dr #58 Richmond VA 23235 $88,500.00
60015299 Long ,Alex 111 Lucerne Boulevard Cherry Hill NJ 8003 $191,766.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015270 Keoho ,Ann Marie 8.250 .375 7.875 .0500 7.825 09/01/2027
60015272 Holloway ,Tammy 8.500 .375 8.125 .0500 8.075 09/01/2027
60015280 Rawlins ,Atom Jon 8.125 .375 7.750 .0500 7.700 10/01/2027
60015281 Mehr ,Bijan 8.750 .375 8.375 .0500 8.325 11/01/2027
60015282 Mc Guigan ,Joseph T. 8.625 .375 8.250 .0500 8.200 09/01/2027
60015285 Hider ,Maurice J 8.875 .375 8.500 .0500 8.450 10/01/2027
60015286 Schafer ,John F. 8.875 .375 8.500 .0500 8.450 10/01/2027
60015291 Hewitt ,Jean Q. 8.375 .375 8.000 .0500 7.950 11/01/2027
60015292 Foulkes ,Peggy A. 8.375 .375 8.000 .0500 7.950 11/01/2027
60015295 Dally ,Salah M. 8.750 .375 8.375 .0500 8.325 10/01/2027
60015296 Lee ,Thad M. 8.500 .375 8.125 .0500 8.075 10/01/2027
60015297 Notartomaso ,Michael A 8.875 .375 8.500 .0500 8.450 10/01/2027
60015298 Maiden ,Lucy A 8.250 .375 7.875 .0500 7.825 11/01/2027
60015299 Long ,Alex 8.500 .375 8.125 .0500 8.075 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015270 Keoho ,Ann Marie 279891 $608.53 11/01/1997 360
60015272 Holloway ,Tammy 279919 $787.37 11/01/1997 360
60015280 Rawlins ,Atom Jon 280133 $1,131.57 11/01/1997 360
60015281 Mehr ,Bijan 280150 $912.57 11/01/1997 360
60015282 Mc Guigan ,Joseph T. 280154 $1,057.79 11/01/1997 360
60015285 Hider ,Maurice J 280252 $839.41 11/01/1997 360
60015286 Schafer ,John F. 280256 $763.82 11/01/1997 360
60015291 Hewitt ,Jean Q. 280542 $969.10 11/01/1997 360
60015292 Foulkes ,Peggy A. 280653 $1,106.67 11/01/1997 360
60015295 Dally ,Salah M. 280785 $692.30 11/01/1997 360
60015296 Lee ,Thad M. 280795 $1,162.60 11/01/1997 360
60015297 Notartomaso ,Michael A 280798 $1,589.30 2 11/01/1997 360
60015298 Maiden ,Lucy A 280801 $664.88 11/01/1997 360
60015299 Long ,Alex 280808 $1,476.31 11/01/1997 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>
60015270 Keoho ,Ann Marie $108,000.00 N
60015272 Holloway ,Tammy $128,000.00 N
60015280 Rawlins ,Atom Jon $203,300.00 N
60015281 Mehr ,Bijan $155,000.00 N
60015282 Mc Guigan ,Joseph T. $170,000.00 N
60015285 Hider ,Maurice J $131,900.00 N
60015286 Schafer ,John F. $121,000.00 N
60015291 Hewitt ,Jean Q. $170,000.00 N
60015292 Foulkes ,Peggy A. $182,000.00 N
60015295 Dally ,Salah M. $110,000.00 N
60015296 Lee ,Thad M. $189,000.00 N
60015297 Notartomaso ,Michael A $235,000.00 N
60015298 Maiden ,Lucy A $118,000.00 N
60015299 Long ,Alex $267,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015302 Viglino ,Jason A 821 Shem Creek Circle Myrtle Beach SC 29577 $69,517.50
60015303 Hutchinson ,Carol 2024 Ostwood Terrace Union NJ 7083 $154,536.32
60015304 Isenberg ,Dilworth 7530 Kemper House Court Manassas VA 20111 $177,772.20
60015305 Byrd ,Larry H. 516 Turtle Creek Drive Birmingham AL 35226 $134,236.58
60015306 Brust ,Bernd 127 South Main Street Hudson OH 44236 $142,635.08
60015307 Rose ,Todd W. 8070 Foxwell Road Glen Burnie MD 21061 $149,127.59
60015308 Phung ,Thomas T. 15 Glyn Drive Newark DE 19713 $92,695.56
60015309 Chen ,Andrew C 25 Lawrence Street #2 Boston MA 2116 $145,585.98
60015310 Holmes ,Willie 5713 Ironstone Drive Columbus GA 31907 $90,500.00
60015313 D Souza ,Kenneth J 4465 12 Manor Vero Beach FL 32968 $112,263.33
60015314 Bishop ,Milica M 1782 E Trafalgar Cr Hollywood FL 33020 $100,919.13
60015316 Coogan ,David 5029 12th Street South Arlington VA 22206 $83,897.86
60015317 Gebar ,Andeberha 820 Kokomo Lane Indianapolis IN 46241 $80,506.92
60015318 Kaniuk ,Ronald Sc 2093 Nw 52 Street Boca Raton FL 33496 $139,788.37
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015302 Viglino ,Jason A 8.625 .375 8.250 .0500 8.200 10/01/2027
60015303 Hutchinson ,Carol 7.875 .375 7.500 .0500 7.450 10/01/2027
60015304 Isenberg ,Dilworth 8.250 .375 7.875 .0500 7.825 10/01/2027
60015305 Byrd ,Larry H. 8.500 .375 8.125 .0500 8.075 10/01/2027
60015306 Brust ,Bernd 8.750 .375 8.375 .0500 8.325 10/01/2027
60015307 Rose ,Todd W. 8.750 .375 8.375 .0500 8.325 10/01/2027
60015308 Phung ,Thomas T. 8.875 .375 8.500 .0500 8.450 10/01/2027
60015309 Chen ,Andrew C 8.875 .375 8.500 .0500 8.450 10/01/2027
60015310 Holmes ,Willie 7.625 .375 7.250 .0500 7.200 11/01/2027
60015313 D Souza ,Kenneth J 8.500 .375 8.125 .0500 8.075 10/01/2027
60015314 Bishop ,Milica M 8.500 .375 8.125 .0500 8.075 10/01/2027
60015316 Coogan ,David 8.500 .375 8.125 .0500 8.075 10/01/2027
60015317 Gebar ,Andeberha 8.750 .375 8.375 .0500 8.325 10/01/2027
60015318 Kaniuk ,Ronald Sc 8.750 .375 8.375 .0500 8.325 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015302 Viglino ,Jason A 280871 $541.35 11/01/1997 360
60015303 Hutchinson ,Carol 280878 $1,122.04 1 11/01/1997 360
60015304 Isenberg ,Dilworth 280917 $1,337.26 11/01/1997 360
60015305 Byrd ,Larry H. 280936 $1,033.42 11/01/1997 360
60015306 Brust ,Bernd 281012 $1,123.41 11/01/1997 360
60015307 Rose ,Todd W. 281182 $1,174.54 11/01/1997 360
60015308 Phung ,Thomas T. 281192 $738.36 11/01/1997 360
60015309 Chen ,Andrew C 281296 $1,159.65 11/01/1997 360
60015310 Holmes ,Willie 281478 $640.55 11/01/1997 360
60015313 D Souza ,Kenneth J 281602 $864.26 11/01/1997 360
60015314 Bishop ,Milica M 281604 $776.93 11/01/1997 360
60015316 Coogan ,David 281817 $645.89 11/01/1997 360
60015317 Gebar ,Andeberha 281846 $634.08 11/01/1997 360
60015318 Kaniuk ,Ronald Sc 281934 $1,100.99 11/01/1997 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>
60015302 Viglino ,Jason A $87,000.00 N
60015303 Hutchinson ,Carol $162,900.00 N
60015304 Isenberg ,Dilworth $222,500.00 N
60015305 Byrd ,Larry H. $168,000.00 N
60015306 Brust ,Bernd $178,500.00 N
60015307 Rose ,Todd W. $186,700.00 N
60015308 Phung ,Thomas T. $116,000.00 N
60015309 Chen ,Andrew C $265,000.00 N
60015310 Holmes ,Willie $151,000.00 N
60015313 D Souza ,Kenneth J $149,900.00 N
60015314 Bishop ,Milica M $126,303.00 N
60015316 Coogan ,David $105,000.00 N
60015317 Gebar ,Andeberha $107,500.00 N
60015318 Kaniuk ,Ronald Sc $200,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015319 Perdue ,Lisa B 1650 Rising Viewlane Knoxville TN 37922 $189,595.11
60015322 Phillips ,Robert An 102 Windsor Trail Pelham AL 35124 $185,250.00
60015323 Climis ,Melanie 735 14th Place Miami Beach FL 33139 $84,252.59
60015324 Steward ,Stanley A 7000 Raincloud Drive Las Vegas NV 89128 $83,900.44
60015325 Robbins ,Schuyler 1202 Cascade Street Hood River OR 97031 $99,872.02
60015327 Greaser ,Alan 12251 Yowell Road Ashland VA 23005 $99,887.47
60015328 Browder ,Marian B. 14243 Cool Valley Road Valley Center CA 92082 $191,734.87
60015329 Dyer ,Ellen M 1406 Lisbon Street Coral Gables FL 33114 $138,591.37
60015331 Raices ,Robert K 3467 Warren Court Bullhead City AZ 86442 $114,860.17
60015333 Goularte ,Judy A 1060 Oak Street Hollister CA 95023 $130,155.91
60015334 Cox ,Trent A 325 South 900 East Kaysville UT 84037 $108,614.33
60015335 Mayers ,Cathy A. 5481 Saddleback Drive Prescott Valley AZ 86314 $78,609.09
60015336 Juratovac ,William R 6406 Dawson Boulevard Mentor OH 44060 $132,584.39
60015337 Boland ,Catherine 1023 Forrest Avenue Decatur GA 30089 $115,855.28
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015319 Perdue ,Lisa B 7.750 .375 7.375 .0500 7.325 09/01/2027
60015322 Phillips ,Robert An 8.500 .375 8.125 .0500 8.075 11/01/2027
60015323 Climis ,Melanie 8.750 .375 8.375 .0500 8.325 10/01/2027
60015324 Steward ,Stanley A 8.625 .375 8.250 .0500 8.200 10/01/2027
60015325 Robbins ,Schuyler 8.250 .375 7.875 .0500 7.825 10/01/2027
60015327 Greaser ,Alan 8.875 .375 8.500 .0500 8.450 10/01/2027
60015328 Browder ,Marian B. 7.875 .375 7.500 .0500 7.450 10/01/2027
60015329 Dyer ,Ellen M 8.750 .375 8.375 .0500 8.325 07/01/2026
60015331 Raices ,Robert K 8.500 .375 8.125 .0500 8.075 10/01/2027
60015333 Goularte ,Judy A 7.500 .375 7.125 .0500 7.075 10/01/2027
60015334 Cox ,Trent A 8.375 .375 8.000 .0500 7.950 10/01/2027
60015335 Mayers ,Cathy A. 8.750 .375 8.375 .0500 8.325 10/01/2027
60015336 Juratovac ,William R 8.375 .375 8.000 .0500 7.950 10/01/2027
60015337 Boland ,Catherine 8.375 .375 8.000 .0500 7.950 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015319 Perdue ,Lisa B 281935 $1,361.18 11/01/1997 360
60015322 Phillips ,Robert An 282144 $1,424.41 11/01/1997 360
60015323 Climis ,Melanie 282240 $663.58 11/01/1997 360
60015324 Steward ,Stanley A 282376 $653.35 11/01/1997 360
60015325 Robbins ,Schuyler 282424 $751.27 11/01/1997 360
60015327 Greaser ,Alan 282447 $795.64 11/01/1997 360
60015328 Browder ,Marian B. 282451 $1,392.13 11/01/1997 360
60015329 Dyer ,Ellen M 282539 $1,101.01 11/01/1997 346
60015331 Raices ,Robert K 282556 $884.25 11/01/1997 360
60015333 Goularte ,Judy A 282634 $911.43 11/01/1997 360
60015334 Cox ,Trent A 282639 $826.58 11/01/1997 360
60015335 Mayers ,Cathy A. 282658 $619.14 11/01/1997 360
60015336 Juratovac ,William R 282795 $1,009.00 11/01/1997 360
60015337 Boland ,Catherine 282808 $881.69 11/01/1997 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>
60015319 Perdue ,Lisa B $255,000.00 N
60015322 Phillips ,Robert An $247,000.00 N
60015323 Climis ,Melanie $120,500.00 N
60015324 Steward ,Stanley A $115,000.00 N
60015325 Robbins ,Schuyler $140,000.00 N
60015327 Greaser ,Alan $174,000.00 N
60015328 Browder ,Marian B. $240,000.00 N
60015329 Dyer ,Ellen M $227,000.00 N
60015331 Raices ,Robert K $198,000.00 N
60015333 Goularte ,Judy A $205,000.00 N
60015334 Cox ,Trent A $145,000.00 N
60015335 Mayers ,Cathy A. $104,999.00 N
60015336 Juratovac ,William R $175,000.00 N
60015337 Boland ,Catherine $145,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015338 Brouillette ,Wendy W 206 Lyncroft Lane Apex NC 27502 $175,380.94
60015339 Schwab ,Jay Samue 632 S 2nd Street Brighton CO 80601 $83,000.00
60015340 Muradian ,Todd 19 Toscany Irvine CA 92614 $199,756.82
60015341 Terracciano ,Ricardo W 1679 Ne 10th Avenue Hillsboro OR 97124 $107,865.27
60015342 Singh ,Jasvir 530 Willow Oaks Circle Birmingham AL 35216 $144,619.36
60015343 Wong ,Eddie C.p 25530 Chilmark Drive South Riding VA 20152 $196,000.00
60015344 Wilson ,William D 2946 East Scandia Way Sandy UT 84093 $135,000.00
60015345 Scipione ,Judy 2293 Doc Holliday Dr. Park City UT 84060 $177,600.00
600093566 GORDON 3520 BROTHERS PLACE SE WASHINGTON WA 20032 $46,670.44
600093575 Simpson 3637 Eastchester Road Bronx NY 10469 $199,108.68
600093578 Louie 1014 Dyer Drive Lafayette CA 94549 $207,297.40
600093595 Langelier 82 Main Street North Smithfiel RI 2896 $149,560.07
600093659 Shellnut 4621 Regina Lane Concord CA 94520 $167,676.39
600093661 Mason 942 W. Camino Real Boca Raton FL 33486 $78,757.30
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015338 Brouillette ,Wendy W 8.375 .375 8.000 .0500 7.950 10/01/2027
60015339 Schwab ,Jay Samue 8.500 .375 8.125 .0500 8.075 11/01/2027
60015340 Muradian ,Todd 8.500 .375 8.125 .0500 8.075 10/01/2027
60015341 Terracciano ,Ricardo W 8.375 .375 8.000 .0500 7.950 10/01/2027
60015342 Singh ,Jasvir 8.375 .375 8.000 .0500 7.950 10/01/2027
60015343 Wong ,Eddie C.p 7.750 .375 7.375 .0500 7.325 11/01/2027
60015344 Wilson ,William D 8.250 .375 7.875 .0500 7.825 11/01/2027
60015345 Scipione ,Judy 7.875 .375 7.500 .0500 7.450 11/01/2027
600093566 GORDON 6.875 .375 6.500 .0500 6.450 06/01/2024
600093575 Simpson 8.750 .375 8.375 .0500 8.325 04/01/2027
600093578 Louie 7.625 .375 7.250 .0500 7.200 12/01/2026
600093595 Langelier 9.625 .375 9.250 .0500 9.200 05/01/2027
600093659 Shellnut 8.250 .375 7.875 .0500 7.825 08/01/2027
600093661 Mason 7.375 .375 7.000 .0500 6.950 07/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015338 Brouillette ,Wendy W 282852 $1,334.69 11/01/1997 360
60015339 Schwab ,Jay Samue 282878 $638.20 11/01/1997 360
60015340 Muradian ,Todd 282880 $1,537.83 11/01/1997 360
60015341 Terracciano ,Ricardo W 282881 $820.88 11/01/1997 360
60015342 Singh ,Jasvir 282884 $1,100.59 11/01/1997 360
60015343 Wong ,Eddie C.p 282935 $1,404.17 11/01/1997 360
60015344 Wilson ,William D 282979 $1,014.21 11/01/1997 360
60015345 Scipione ,Judy 282989 $1,287.73 11/01/1997 360
600093566 GORDON 60255 $494.98 2 11/01/1997 360
600093575 Simpson 219712 $1,636.34 11/01/1997 360
600093578 Louie 222575 $1,480.70 11/01/1997 360
600093595 Langelier 242851 $1,274.99 11/01/1997 360
600093659 Shellnut 252867 $1,262.13 11/01/1997 360
600093661 Mason 252984 $545.64 11/01/1997 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>
60015338 Brouillette ,Wendy W $219,500.00 N
60015339 Schwab ,Jay Samue $104,000.00 N
60015340 Muradian ,Todd $250,000.00 N
60015341 Terracciano ,Ricardo W $155,000.00 N
60015342 Singh ,Jasvir $181,000.00 N
60015343 Wong ,Eddie C.p $245,780.00 N
60015344 Wilson ,William D $231,000.00 N
60015345 Scipione ,Judy $222,000.00 N
600093566 GORDON $79,000.00 N
600093575 Simpson $260,000.00 N
600093578 Louie $278,995.00 N
600093595 Langelier $200,000.00 N
600093659 Shellnut $210,000.00 N
600093661 Mason $130,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600093664 Asuncion 165-08 67th Ave Flushing NY 11365 $207,712.77
600093666 Hewett 10023 Cowley Cove Drive Riverview FL 33569 $58,654.56
600093687 Carpenter 3128 & 3130 22nd St Lane Hickory NC 28601 $115,070.34
600093688 Cobb 835 Estates Drive Copper Canyon TX 75067 $198,495.66
600093692 Hamrick 151 Je Johnson Road Kalama WA 98625 $116,068.08
600093695 Monte 80-12 149th Avenue Howard Beach NY 11414 $204,122.07
600093697 Moss 804 White Burch Ave Ellensburg WA 98926 $209,344.30
600093698 Coalman 7921 Adamson Lane Se Salem OR 97301 $207,805.29
600093700 Martin 11278 North Forest Hills Parker CO 80134 $199,756.82
600093705 Holmes 432 North Swope Street Greenfield IN 46140 $51,889.96
600093710 Reed 7765 Industrial Road Las Vegas NV 89139 $112,729.89
600093711 Davodian 966 S. Rincon Rising Rd. Tucson AZ 85748 $154,101.67
600093718 Burk 2817 Ne 12th Avenue Portland OR 97212 $202,147.51
600093722 Beck 452 N.e 39 Street Miami FL 33137 $168,491.03
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600093664 Asuncion 7.875 .375 7.500 .0500 7.450 09/01/2027
600093666 Hewett 7.000 .375 6.625 .0500 6.575 08/01/2027
600093687 Carpenter 8.875 .375 8.500 .0500 8.450 09/01/2027
600093688 Cobb 8.250 .375 7.875 .0500 7.825 09/01/2027
600093692 Hamrick 7.250 .375 6.875 .0500 6.825 09/01/2027
600093695 Monte 7.875 .375 7.500 .0500 7.450 09/01/2027
600093697 Moss 8.500 .375 8.125 .0500 8.075 09/01/2027
600093698 Coalman 7.750 .375 7.375 .0500 7.325 09/01/2027
600093700 Martin 8.500 .375 8.125 .0500 8.075 09/01/2027
600093705 Holmes 8.750 .375 8.375 .0500 8.325 09/01/2027
600093710 Reed 8.375 .375 8.000 .0500 7.950 10/01/2027
600093711 Davodian 8.250 .375 7.875 .0500 7.825 10/01/2027
600093718 Burk 8.375 .375 8.000 .0500 7.950 09/01/2027
600093722 Beck 8.500 .375 8.125 .0500 8.075 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600093664 Asuncion 254318 $1,508.15 11/01/1997 360
600093666 Hewett 254939 $391.20 11/01/1997 360
600093687 Carpenter 259852 $916.59 11/01/1997 360
600093688 Cobb 259931 $1,493.14 11/01/1997 360
600093692 Hamrick 260607 $793.03 11/01/1997 360
600093695 Monte 261212 $1,486.40 11/01/1997 360
600093697 Moss 261397 $1,612.42 3 11/01/1997 360
600093698 Coalman 261823 $1,490.86 11/01/1997 360
600093700 Martin 262111 $1,537.83 11/01/1997 360
600093705 Holmes 263464 $409.08 11/01/1997 360
600093710 Reed 264172 $857.36 11/01/1997 360
600093711 Davodian 264186 $1,158.46 11/01/1997 360
600093718 Burk 265456 $1,538.39 11/01/1997 360
600093722 Beck 266519 $1,297.93 11/01/1997 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>
600093664 Asuncion $260,000.00 N
600093666 Hewett $81,000.00 N
600093687 Carpenter $144,000.00 N
600093688 Cobb $265,000.00 N
600093692 Hamrick $155,000.00 N
600093695 Monte $305,000.00 N
600093697 Moss $233,000.00 N
600093698 Coalman $277,500.00 N
600093700 Martin $250,000.00 N
600093705 Holmes $65,000.00 N
600093710 Reed $150,000.00 N
600093711 Davodian $225,000.00 N
600093718 Burk $270,000.00 N
600093722 Beck $211,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600093724 Drust 10921 Fairbanks Way Culver City CA 90230 $191,121.68
600093726 Deal 8582 Cypress Springs Road Lake Worth, Pal FL 33467 $161,899.31
600093734 Wong 6332 Villa Rosa Drive Rancho Palos Ve CA 90275 $213,520.56
600093740 Hoffman O Berkshire Road Richmond VA 23221 $199,750.50
600093742 D Angelo 3867 Inverness Road Fairfax VA 22033 $191,783.92
600093749 Emulut 4927 Kernwood Court Palm Harbor FL 34685 $204,444.65
600093751 Jones 1324 South 400 East Salt Lake City UT 84108 $124,294.44
600093752 Gearhart 18530 Stevens Rd Marengo IL 60152 $183,558.74
600093753 Gimler 79-81 North Street Mansfield MA 2048 $142,919.83
600093756 Pino 1703 Captiva Drive Oldsmar FL 34677 $187,731.70
600093757 Mills 7784 Parfet Street Arvada CO 80005 $152,083.27
600093763 Afic 33121 Lynx Lane Evergreen CO 80439 $187,727.00
600093768 Pitz 6133 Cornwall Terrace Frederick MD 21701 $180,585.45
600093771 Mcmillan 4475 Songglen Circle Colorado Spring CO 80906 $168,184.50
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600093724 Drust 8.000 .375 7.625 .0500 7.575 10/01/2027
600093726 Deal 8.375 .375 8.000 .0500 7.950 10/01/2027
600093734 Wong 7.500 .375 7.125 .0500 7.075 08/01/2027
600093740 Hoffman 8.375 .375 8.000 .0500 7.950 09/01/2027
600093742 D Angelo 8.875 .375 8.500 .0500 8.450 09/01/2027
600093749 Emulut 8.375 .375 8.000 .0500 7.950 09/01/2027
600093751 Jones 9.000 .375 8.625 .0500 8.575 08/01/2027
600093752 Gearhart 9.250 .375 8.875 .0500 8.825 09/01/2027
600093753 Gimler 8.875 .375 8.500 .0500 8.450 10/01/2027
600093756 Pino 8.750 .375 8.375 .0500 8.325 09/01/2027
600093757 Mills 7.875 .375 7.500 .0500 7.450 08/01/2027
600093763 Afic 7.625 .375 7.250 .0500 7.200 09/01/2027
600093768 Pitz 8.750 .375 8.375 .0500 8.325 08/01/2027
600093771 Mcmillan 8.250 .375 7.875 .0500 7.825 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600093724 Drust 266836 $1,403.32 11/01/1997 360
600093726 Deal 267035 $1,231.32 11/01/1997 360
600093734 Wong 269057 $1,496.32 11/01/1997 360
600093740 Hoffman 269939 $1,520.15 11/01/1997 360
600093742 D Angelo 270412 $1,527.64 11/01/1997 360
600093749 Emulut 271533 $1,555.87 11/01/1997 360
600093751 Jones 272507 $1,001.76 11/01/1997 360
600093752 Gearhart 272753 $1,511.67 11/01/1997 360
600093753 Gimler 272770 $1,137.77 11/01/1997 360
600093756 Pino 273883 $1,479.00 11/01/1997 360
600093757 Mills 273967 $1,105.01 11/01/1997 360
600093763 Afic 274196 $1,330.65 11/01/1997 360
600093768 Pitz 275291 $1,423.15 3 11/01/1997 360
600093771 Mcmillan 275424 $1,265.13 11/01/1997 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>
600093724 Drust $255,000.00 N
600093726 Deal $202,505.00 N
600093734 Wong $460,000.00 N
600093740 Hoffman $250,000.00 N
600093742 D Angelo $240,000.00 N
600093749 Emulut $255,897.00 N
600093751 Jones $166,000.00 N
600093752 Gearhart $245,000.00 N
600093753 Gimler $180,000.00 N
600093756 Pino $235,000.00 N
600093757 Mills $190,500.00 N
600093763 Afic $235,000.00 N
600093768 Pitz $201,000.00 N
600093771 Mcmillan $210,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600093785 Bekermajit 101-46 106Th St. Ozone Park NY 11416 $136,946.72
600093789 Biggs 8400 Treehouse Lane Austin TX 78749 $106,863.07
600093794 Mocaby 2018 E 11 Mile Royal Oak MI 48073 $123,346.79
600093796 Carpenter 3118 & 3120 22nd Street L Hickory NC 28601 $115,070.34
600093797 Schumm 18041 North 40th Place Phoenix AZ 85032 $100,904.33
600093798 Gill Prospect Avenue Oak Bluffs MA 2557 $125,462.27
600093799 Salerno 103-A Camden Avenue Lavallette NJ 8735 $211,801.38
600093802 Bertges 7732 Purple Sky Drive Las Vegas NV 89129 $155,819.85
600093803 Mccutcheon 99 West Beverly Avenue Clovis CA 93612 $195,755.49
600093810 Whiteside 941 Burton Avenue Highland Park IL 60035 $125,089.71
600093812 Kruczek 1111 Shoulder Bone Circle Greensboro GA 30642 $191,489.76
600104723 Fernandez, Mary D 3528,3530 Hunter St Los Angeles CA 90063 $132,696.61
600104731 Henley, Dennis M. 2085 Woodtrails Drive #4 Fairfield OH 45014 $62,720.06
600104743 Sargent, Paul F 13662 South Vestry Road Draper UT 84020 $103,829.55
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600093785 Bekermajit 9.000 .375 8.625 .0500 8.575 07/01/2027
600093789 Biggs 8.250 .375 7.875 .0500 7.825 09/01/2027
600093794 Mocaby 8.875 .375 8.500 .0500 8.450 09/01/2027
600093796 Carpenter 8.875 .375 8.500 .0500 8.450 09/01/2027
600093797 Schumm 8.500 .375 8.125 .0500 8.075 09/01/2027
600093798 Gill 9.000 .375 8.625 .0500 8.575 09/01/2027
600093799 Salerno 9.750 .375 9.375 .0500 9.325 09/01/2027
600093802 Bertges 8.750 .375 8.375 .0500 8.325 09/01/2027
600093803 Mccutcheon 8.375 .375 8.000 .0500 7.950 09/01/2027
600093810 Whiteside 8.250 .375 7.875 .0500 7.825 09/01/2027
600093812 Kruczek 8.750 .375 8.375 .0500 8.325 10/01/2027
600104723 Fernandez, Mary D 7.375 .290 7.085 .0500 7.035 02/01/2024
600104731 Henley, Dennis M. 8.375 .250 8.125 .0500 8.075 04/01/2027
600104743 Sargent, Paul F 8.000 .250 7.750 .0500 7.700 06/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600093785 Bekermajit 238428 $1,104.35 11/01/1997 360
600093789 Biggs 249005 $803.86 11/01/1997 360
600093794 Mocaby 258739 $984.61 11/01/1997 360
600093796 Carpenter 259849 $916.59 11/01/1997 360
600093797 Schumm 261385 $778.52 11/01/1997 360
600093798 Gill 263315 $1,010.61 11/01/1997 360
600093799 Salerno 264417 $1,821.41 11/01/1997 360
600093802 Bertges 266480 $1,227.25 11/01/1997 360
600093803 Mccutcheon 266652 $1,489.75 11/01/1997 360
600093810 Whiteside 274135 $940.96 11/01/1997 360
600093812 Kruczek 276199 $1,507.32 11/01/1997 360
600104723 Fernandez, Mary D 187581 $960.04 11/01/1997 360
600104731 Henley, Dennis M. 242783 $478.85 11/01/1997 360
600104743 Sargent, Paul F 251766 $770.46 11/01/1997 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>
600093785 Bekermajit $183,000.00 N
600093789 Biggs $135,000.00 N
600093794 Mocaby $165,000.00 N
600093796 Carpenter $144,000.00 N
600093797 Schumm $135,000.00 N
600093798 Gill $157,000.00 N
600093799 Salerno $265,000.00 N
600093802 Bertges $208,000.00 N
600093803 Mccutcheon $245,000.00 N
600093810 Whiteside $167,000.00 N
600093812 Kruczek $239,500.00 N
600104723 Fernandez, Mary D $180,000.00 N
600104731 Henley, Dennis M. $84,000.00 N
600104743 Sargent, Paul F $270,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104746 Woodward, T. Kevin 874 East Baker Drive Midvale UT 84047 $115,752.80
600104759 Seideman, Richard B 14551 Oak Meadow Road Valley Center CA 92082 $64,912.47
600104760 Malins, Alfred C. 4324 Brandywine Drive Sarasota FL 34241 $177,400.00
600104761 Mc Neal, Marcus D 4800 Willamsburg Lane #13 La Mesa CA 91941 $59,923.22
600104768 Ceton, Colleen K 1505 East Cypress Drive Phoenix AZ 85006 $71,111.18
600104770 Avery, Robert M 7425 Birch Bay Drive Blaine WA 98230 $159,435.03
600104773 Friedberg, Lori Beth 124 A B C & D Calvin Cou West Columbia SC 29172 $61,920.65
600104774 Friedberg, Lori Beth 119 Calvin Court West Columbia SC 29169 $53,930.90
600104778 Martin, Saranrit 51 Los Padres Circle Novato CA 94947 $71,250.00
600104784 Vanmeter, Kristopher Todd 5042 Old Orr Road Flowery Branch GA 30542 $72,906.59
600104785 Rogers Jr, Bill 4818 S Fontanelle Street Seattle WA 98411 $104,929.54
600104792 Schwartz, Samuel J 19040 216th Avenue Southe Maple Valley WA 98038 $51,966.84
600104793 Herrera Sr, Jose Ignacio 2505 South Ramona Drive Santa Ana CA 92707 $99,865.35
600104802 Korn, Francios 1353 El Centro Oakland CA 94602 $94,872.08
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104746 Woodward, T. Kevin 7.750 .250 7.500 .0500 7.450 08/01/2027
600104759 Seideman, Richard B 8.000 .250 7.750 .0500 7.700 09/01/2027
600104760 Malins, Alfred C. 8.250 .250 8.000 .0500 7.950 11/01/2027
600104761 Mc Neal, Marcus D 8.250 .250 8.000 .0500 7.950 09/01/2027
600104768 Ceton, Colleen K 8.375 .250 8.125 .0500 8.075 09/01/2027
600104770 Avery, Robert M 8.000 .250 7.750 .0500 7.700 09/01/2027
600104773 Friedberg, Lori Beth 8.250 .250 8.000 .0500 7.950 09/01/2027
600104774 Friedberg, Lori Beth 8.250 .250 8.000 .0500 7.950 09/01/2027
600104778 Martin, Saranrit 8.125 .250 7.875 .0500 7.825 11/01/2027
600104784 Vanmeter, Kristopher Todd 8.250 .250 8.000 .0500 7.950 09/01/2027
600104785 Rogers Jr, Bill 8.000 .250 7.750 .0500 7.700 10/01/2027
600104792 Schwartz, Samuel J 8.250 .250 8.000 .0500 7.950 10/01/2027
600104793 Herrera Sr, Jose Ignacio 8.000 .250 7.750 .0500 7.700 09/01/2027
600104802 Korn, Francios 8.000 .250 7.750 .0500 7.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104746 Woodward, T. Kevin 253198 $831.04 11/01/1997 360
600104759 Seideman, Richard B 259861 $476.95 11/01/1997 360
600104760 Malins, Alfred C. 260009 $1,332.75 11/01/1997 360
600104761 Mc Neal, Marcus D 260467 $450.76 11/01/1997 360
600104768 Ceton, Colleen K 262211 $541.17 11/01/1997 360
600104770 Avery, Robert M 262622 $1,171.46 11/01/1997 360
600104773 Friedberg, Lori Beth 263025 $465.79 11/01/1997 360
600104774 Friedberg, Lori Beth 263031 $405.68 11/01/1997 360
600104778 Martin, Saranrit 263865 $529.03 11/01/1997 360
600104784 Vanmeter, Kristopher Todd 264670 $548.42 11/01/1997 360
600104785 Rogers Jr, Bill 264684 $770.46 11/01/1997 360
600104792 Schwartz, Samuel J 265566 $390.66 11/01/1997 360
600104793 Herrera Sr, Jose Ignacio 265717 $733.77 11/01/1997 360
600104802 Korn, Francios 266692 $697.08 11/01/1997 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>
600104746 Woodward, T. Kevin $146,000.00 N
600104759 Seideman, Richard B $290,000.00 N
600104760 Malins, Alfred C. $223,000.00 N
600104761 Mc Neal, Marcus D $75,000.00 N
600104768 Ceton, Colleen K $89,000.00 N
600104770 Avery, Robert M $225,000.00 N
600104773 Friedberg, Lori Beth $77,500.00 N
600104774 Friedberg, Lori Beth $67,500.00 N
600104778 Martin, Saranrit $95,000.00 N
600104784 Vanmeter, Kristopher Todd $100,000.00 N
600104785 Rogers Jr, Bill $141,000.00 N
600104792 Schwartz, Samuel J $178,000.00 N
600104793 Herrera Sr, Jose Ignacio $151,500.00 N
600104802 Korn, Francios $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104811 Hill, Belia D 2419 Camino Bucanero San Clemente CA 92673 $65,456.05
600104813 Bouman, Sharrie 7942 Seawall Circle Huntington Beac CA 92648 $139,906.06
600104814 Mc Donald, Gregory B 17916 Benchmark Drive Dallas TX 75252 $187,877.03
600104815 Hailey, Harold D 520 Se Columbia River Dr Vancouver WA 98661 $127,914.11
600104816 Sanders, Barbara Berke 11671 Waverly Drive Garden Grove CA 92840 $155,895.33
600104820 Biddle, Jenny M 422 A 422b South Freeman Oceanside CA 92054 $89,190.11
600104823 Bandeali, Aman U. 6206 Colina Lane Austin TX 78759 $109,928.04
600104826 Tienken, Brian C 910 N.w. 161st Terrace Beaverton OR 97006 $168,262.02
600104832 Martin, Dennis 9033 Vista Grande West Hollywood CA 90069 $153,896.67
600104834 Lopez, Maria Del Socorro 822 Woodlawn Avenue Chula Vista CA 91911 $71,951.69
600104838 Hoffman Jr., William 8722 7th Avenue South Seattle WA 98108 $55,964.29
600104839 Reda, Joseph A 5340 E Anderson Dr Scottsdale AZ 85254 $161,894.03
600104847 Rosenberg, Deanne 28 Fifer Lane Lexington MA 02173 $169,200.00
600104848 Nguyen, Xuan 18619 E Powers Dr Aurora CO 80015 $130,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104811 Hill, Belia D 8.000 .250 7.750 .0500 7.700 10/01/2027
600104813 Bouman, Sharrie 8.000 .250 7.750 .0500 7.700 10/01/2027
600104814 Mc Donald, Gregory B 8.125 .250 7.875 .0500 7.825 10/01/2027
600104815 Hailey, Harold D 8.000 .250 7.750 .0500 7.700 10/01/2027
600104816 Sanders, Barbara Berke 8.000 .250 7.750 .0500 7.700 10/01/2027
600104820 Biddle, Jenny M 8.000 .250 7.750 .0500 7.700 10/01/2027
600104823 Bandeali, Aman U. 8.125 .250 7.875 .0500 7.825 10/01/2027
600104826 Tienken, Brian C 8.000 .250 7.750 .0500 7.700 10/01/2027
600104832 Martin, Dennis 8.000 .250 7.750 .0500 7.700 10/01/2027
600104834 Lopez, Maria Del Socorro 8.000 .250 7.750 .0500 7.700 10/01/2027
600104838 Hoffman Jr., William 8.250 .250 8.000 .0500 7.950 10/01/2027
600104839 Reda, Joseph A 8.125 .250 7.875 .0500 7.825 10/01/2027
600104847 Rosenberg, Deanne 8.125 .250 7.875 .0500 7.825 11/01/2027
600104848 Nguyen, Xuan 7.500 .250 7.250 .0500 7.200 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104811 Hill, Belia D 267522 $480.62 11/01/1997 360
600104813 Bouman, Sharrie 267696 $1,027.27 11/01/1997 360
600104814 Mc Donald, Gregory B 267809 $1,395.89 11/01/1997 360
600104815 Hailey, Harold D 267865 $939.22 11/01/1997 360
600104816 Sanders, Barbara Berke 268217 $1,144.67 11/01/1997 360
600104820 Biddle, Jenny M 268510 $654.89 11/01/1997 360
600104823 Bandeali, Aman U. 268844 $816.75 11/01/1997 360
600104826 Tienken, Brian C 269103 $1,235.48 11/01/1997 360
600104832 Martin, Dennis 269285 $1,130.00 11/01/1997 360
600104834 Lopez, Maria Del Socorro 269383 $528.31 11/01/1997 360
600104838 Hoffman Jr., William 269567 $420.71 11/01/1997 360
600104839 Reda, Joseph A 269595 $1,202.85 11/01/1997 360
600104847 Rosenberg, Deanne 270099 $1,256.31 11/01/1997 360
600104848 Nguyen, Xuan 270318 $908.98 11/01/1997 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>
600104811 Hill, Belia D $188,000.00 N
600104813 Bouman, Sharrie $230,000.00 N
600104814 Mc Donald, Gregory B $235,000.00 N
600104815 Hailey, Harold D $160,000.00 N
600104816 Sanders, Barbara Berke $195,000.00 N
600104820 Biddle, Jenny M $119,000.00 N
600104823 Bandeali, Aman U. $152,000.00 N
600104826 Tienken, Brian C $224,500.00 N
600104832 Martin, Dennis $270,000.00 N
600104834 Lopez, Maria Del Socorro $155,000.00 N
600104838 Hoffman Jr., William $88,000.00 N
600104839 Reda, Joseph A $295,151.00 N
600104847 Rosenberg, Deanne $245,000.00 N
600104848 Nguyen, Xuan $188,527.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 33
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104851 Smoker, Linda K 9073 Mallard Avenue Fountain Valley CA 92708 $187,870.62
600104857 Yang, Szu-chih 5678 Tonopah Drive San Jose CA 95123 $149,901.88
600104859 Gillen, John F. 4 Foxglove Lane Yountville CA 94599 $182,000.00
600104860 Mizrahi, Roberta 105 Highland Lane Delray Beach FL 33444 $109,620.00
600104861 Fauntleroy, Craig E 132 Willow Drive Livingston MT 59047 $104,155.97
600104863 Prasad, Rajwati 5017 32nd Avenue Sacramento CA 95824 $59,363.07
600104864 Deal, Michael William 400 E Alexander Ave Merced CA 95340 $74,000.00
600104866 Ramsey, John H 3428 99th Ave Ne Lake Stevens WA 98258 $176,134.70
600104867 Grigg, Howard 5401 Inverrary Court Bakersfield CA 93309 $65,955.71
600104871 Gravo, Gerald 64969 East Mt Meadow Lan Brightwood OR 97011 $129,914.96
600104878 Elstob, Mark 1396 June Way South Lake Taho CA 96150 $87,890.21
600104885 Love, Charles L. 3207 Windermere Drive Arlington TX 76014 $51,700.00
600104889 Day, Maryanna 552 Eagle Mill Road Ashland OR 97520 $100,000.00
600104890 Paine, Eugene L. 4500 Studebaker Road Placerville CA 95667 $137,400.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104851 Smoker, Linda K 7.875 .250 7.625 .0500 7.575 10/01/2027
600104857 Yang, Szu-chih 8.125 .250 7.875 .0500 7.825 10/01/2027
600104859 Gillen, John F. 7.875 .250 7.625 .0500 7.575 11/01/2027
600104860 Mizrahi, Roberta 8.000 .250 7.750 .0500 7.700 08/01/2027
600104861 Fauntleroy, Craig E 7.875 .250 7.625 .0500 7.575 09/01/2027
600104863 Prasad, Rajwati 8.375 .250 8.125 .0500 8.075 10/01/2027
600104864 Deal, Michael William 8.125 .250 7.875 .0500 7.825 11/01/2027
600104866 Ramsey, John H 8.125 .250 7.875 .0500 7.825 10/01/2027
600104867 Grigg, Howard 8.000 .250 7.750 .0500 7.700 10/01/2027
600104871 Gravo, Gerald 8.125 .250 7.875 .0500 7.825 10/01/2027
600104878 Elstob, Mark 8.375 .250 8.125 .0500 8.075 09/01/2027
600104885 Love, Charles L. 8.375 .250 8.125 .0500 8.075 11/01/2027
600104889 Day, Maryanna 8.375 .250 8.125 .0500 8.075 11/01/2027
600104890 Paine, Eugene L. 8.375 .250 8.125 .0500 8.075 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104851 Smoker, Linda K 270440 $1,363.13 11/01/1997 360
600104857 Yang, Szu-chih 270918 $1,113.75 11/01/1997 360
600104859 Gillen, John F. 271046 $1,319.63 11/01/1997 360
600104860 Mizrahi, Roberta 271088 $807.14 11/01/1997 360
600104861 Fauntleroy, Craig E 271092 $756.25 12 11/01/1997 360
600104863 Prasad, Rajwati 271460 $451.49 12 11/01/1997 360
600104864 Deal, Michael William 271526 $549.45 11/01/1997 360
600104866 Ramsey, John H 271598 $1,308.66 11/01/1997 360
600104867 Grigg, Howard 271604 $484.29 11/01/1997 360
600104871 Gravo, Gerald 271712 $965.25 11/01/1997 360
600104878 Elstob, Mark 272488 $668.87 11/01/1997 360
600104885 Love, Charles L. 272774 $392.96 11/01/1997 360
600104889 Day, Maryanna 273041 $760.08 11/01/1997 360
600104890 Paine, Eugene L. 273045 $1,044.34 11/01/1997 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>
600104851 Smoker, Linda K $235,000.00 N
600104857 Yang, Szu-chih $270,000.00 N
600104859 Gillen, John F. $231,990.00 N
600104860 Mizrahi, Roberta $173,000.00 N
600104861 Fauntleroy, Craig E $123,000.00 N
600104863 Prasad, Rajwati $66,000.00 N
600104864 Deal, Michael William $92,500.00 N
600104866 Ramsey, John H $250,000.00 N
600104867 Grigg, Howard $111,000.00 N
600104871 Gravo, Gerald $200,000.00 N
600104878 Elstob, Mark $110,000.00 N
600104885 Love, Charles L. $69,000.00 N
600104889 Day, Maryanna $190,000.00 N
600104890 Paine, Eugene L. $215,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 34
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104897 Ramirez, Jorge 4546 North Kenton Ave. Chicago IL 60630 $139,919.44
600104898 Brunton, Carolyn J 4024 E. Lupine Avenue Phoenix AZ 85028 $135,000.00
600104900 Cristancho, Julia 15749 Ambiance Drive Gaithersburg MD 20878 $71,755.36
600104901 Reedy, Kevin J. 930 North Wetherly Drive West Hollywood CA 90069 $164,000.00
600104902 Canedo Jr, Jose 1518 Early Lane Units A B Houston TX 77055 $83,895.22
600104906 Freemantle, Roy P. 3788 South Shore Boulevar Lake Oswego OR 97035 $124,000.00
600104909 Fredrickson, Susan B 1046 Miramonte Drive #8 Santa Barbara CA 93109 $122,439.06
600104910 Okuno, Koji 1730 Sw Harbor Way Portland OR 97201 $100,000.00
600104912 Ramsey, John H 11801 Tulare Way West Marysville WA 98271 $119,919.48
600104915 Kuternoga, Krzysztofa 2626 North Merrimac Chicago IL 60639 $129,749.59
600104919 Yoas, Howard 2002 West Loop Austin TX 78758 $106,463.57
600104920 Kendziorski, Ervin Robert 530 5301/2 532 West Chest Anaheim CA 92805 $151,664.68
600104926 Brown, Nancy J. 746 Nw 38th Terrace Deerfield Beach FL 33442 $84,000.00
600104928 Crawford, Vernell 4726 15th Street Nw Washington DC 20011 $131,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104897 Ramirez, Jorge 8.750 .250 8.500 .0500 8.450 10/01/2027
600104898 Brunton, Carolyn J 8.375 .250 8.125 .0500 8.075 11/01/2027
600104900 Cristancho, Julia 8.375 .250 8.125 .0500 8.075 10/01/2027
600104901 Reedy, Kevin J. 7.875 .250 7.625 .0500 7.575 11/01/2027
600104902 Canedo Jr, Jose 8.375 .250 8.125 .0500 8.075 09/01/2027
600104906 Freemantle, Roy P. 8.125 .250 7.875 .0500 7.825 11/01/2027
600104909 Fredrickson, Susan B 8.125 .250 7.875 .0500 7.825 09/01/2027
600104910 Okuno, Koji 8.250 .250 8.000 .0500 7.950 11/01/2027
600104912 Ramsey, John H 8.000 .250 7.750 .0500 7.700 10/01/2027
600104915 Kuternoga, Krzysztofa 8.250 .250 8.000 .0500 7.950 08/01/2027
600104919 Yoas, Howard 8.250 .250 8.000 .0500 7.950 09/01/2027
600104920 Kendziorski, Ervin Robert 8.375 .250 8.125 .0500 8.075 09/01/2027
600104926 Brown, Nancy J. 8.375 .250 8.125 .0500 8.075 11/01/2027
600104928 Crawford, Vernell 8.250 .250 8.000 .0500 7.950 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104897 Ramirez, Jorge 273355 $1,101.39 11/01/1997 360
600104898 Brunton, Carolyn J 273389 $1,026.10 11/01/1997 360
600104900 Cristancho, Julia 273498 $545.74 11/01/1997 360
600104901 Reedy, Kevin J. 273510 $1,189.11 11/01/1997 360
600104902 Canedo Jr, Jose 273531 $638.46 11/01/1997 360
600104906 Freemantle, Roy P. 273570 $920.70 11/01/1997 360
600104909 Fredrickson, Susan B 273747 $910.30 11/01/1997 360
600104910 Okuno, Koji 273753 $751.27 11/01/1997 360
600104912 Ramsey, John H 273797 $880.52 11/01/1997 360
600104915 Kuternoga, Krzysztofa 273864 $976.65 11/01/1997 360
600104919 Yoas, Howard 274034 $800.86 11/01/1997 360
600104920 Kendziorski, Ervin Robert 274060 $1,155.31 11/01/1997 360
600104926 Brown, Nancy J. 274344 $638.46 11/01/1997 360
600104928 Crawford, Vernell 274408 $984.16 11/01/1997 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>
600104897 Ramirez, Jorge $175,000.00 N
600104898 Brunton, Carolyn J $180,000.00 N
600104900 Cristancho, Julia $95,750.00 N
600104901 Reedy, Kevin J. $205,000.00 N
600104902 Canedo Jr, Jose $105,000.00 N
600104906 Freemantle, Roy P. $290,000.00 N
600104909 Fredrickson, Susan B $163,500.00 N
600104910 Okuno, Koji $136,000.00 N
600104912 Ramsey, John H $150,000.00 N
600104915 Kuternoga, Krzysztofa $174,000.00 N
600104919 Yoas, Howard $137,000.00 N
600104920 Kendziorski, Ervin Robert $190,000.00 N
600104926 Brown, Nancy J. $151,000.00 N
600104928 Crawford, Vernell $190,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 35
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104929 Pendleton, Matthew E. 3405 - 07 Woodmar Court West Lafayette IN 47906 $77,300.96
600104937 Clark, John E. 9 Taunton Lake Drive Newtown CT 06470 $160,000.00
600104941 Terry, Jim D 225 Timber Ridge Drive Burleson TX 76028 $72,800.00
600104942 Cook, William O 1091 West Whitten Street Chandler AZ 85224 $89,544.30
600104947 Evans, George D 1437 Marmora Road Virginia Beach VA 23464 $75,650.47
600104948 Batt, Betty F 127 West 118th Street Los Angeles CA 90061 $84,000.00
600104953 Center, Harlen W. 506 Odessa Magnolia TX 77355 $71,308.62
600104959 Renville, Allen 1010 Greenwich Chico CA 95926 $111,350.00
600104967 Nelson, Alice R. 3930 S. E. 322nd Avenue Troutdale OR 97060 $175,000.00
600104969 Dedlow, Carol 3201 Scriver Street Santa Cruz CA 95062 $150,000.00
600104971 Kost, Michael 37 Lawrence St. Hamburg NJ 07419 $102,000.00
600104975 Dye, Donald B 102 L L Davis Drive Ruidoso NM 88345 $92,937.60
600104976 Helander, Wendy J. 352 Old Whitfield Street Guilford CT 06437 $120,516.99
600104977 Vanderbilt, Vern 871 Ironwood Drive San Jose CA 95125 $204,850.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104929 Pendleton, Matthew E. 8.250 .250 8.000 .0500 7.950 09/01/2027
600104937 Clark, John E. 7.875 .250 7.625 .0500 7.575 11/01/2027
600104941 Terry, Jim D 8.000 .250 7.750 .0500 7.700 11/01/2027
600104942 Cook, William O 8.375 .250 8.125 .0500 8.075 10/01/2027
600104947 Evans, George D 8.125 .250 7.875 .0500 7.825 10/01/2027
600104948 Batt, Betty F 7.750 .250 7.500 .0500 7.450 11/01/2027
600104953 Center, Harlen W. 8.250 .250 8.000 .0500 7.950 09/01/2027
600104959 Renville, Allen 8.250 .250 8.000 .0500 7.950 11/01/2027
600104967 Nelson, Alice R. 8.125 .250 7.875 .0500 7.825 11/01/2027
600104969 Dedlow, Carol 8.000 .250 7.750 .0500 7.700 11/01/2027
600104971 Kost, Michael 8.000 .250 7.750 .0500 7.700 11/01/2027
600104975 Dye, Donald B 8.000 .250 7.750 .0500 7.700 10/01/2027
600104976 Helander, Wendy J. 8.125 .250 7.875 .0500 7.825 09/01/2027
600104977 Vanderbilt, Vern 8.250 .250 8.000 .0500 7.950 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104929 Pendleton, Matthew E. 274441 $581.48 15 11/01/1997 360
600104937 Clark, John E. 274739 $1,160.11 11/01/1997 360
600104941 Terry, Jim D 274871 $534.19 11/01/1997 360
600104942 Cook, William O 274916 $681.03 11/01/1997 360
600104947 Evans, George D 275116 $562.08 11/01/1997 360
600104948 Batt, Betty F 275163 $601.79 11/01/1997 360
600104953 Center, Harlen W. 275377 $536.41 11/01/1997 360
600104959 Renville, Allen 275972 $836.54 12 11/01/1997 360
600104967 Nelson, Alice R. 276329 $1,299.37 11/01/1997 360
600104969 Dedlow, Carol 276340 $1,100.65 11/01/1997 360
600104971 Kost, Michael 276389 $748.44 11/01/1997 360
600104975 Dye, Donald B 276645 $682.40 11/01/1997 360
600104976 Helander, Wendy J. 276651 $898.42 11/01/1997 360
600104977 Vanderbilt, Vern 276695 $1,538.97 11/01/1997 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>
600104929 Pendleton, Matthew E. $86,000.00 N
600104937 Clark, John E. $216,000.00 N
600104941 Terry, Jim D $91,000.00 N
600104942 Cook, William O $113,000.00 N
600104947 Evans, George D $105,000.00 N
600104948 Batt, Betty F $120,000.00 N
600104953 Center, Harlen W. $102,000.00 N
600104959 Renville, Allen $123,750.00 N
600104967 Nelson, Alice R. $750,000.00 N
600104969 Dedlow, Carol $187,500.00 N
600104971 Kost, Michael $136,000.00 N
600104975 Dye, Donald B $270,000.00 N
600104976 Helander, Wendy J. $152,000.00 N
600104977 Vanderbilt, Vern $275,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 36
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104984 Wahler, James 10420 Mercury Drive Grass Valley CA 95945 $128,800.00
600104988 Matthews, Ronnie R 2505 Ahern Street Marysville CA 95901 $114,924.77
600105000 Nasser, Yousef 19927 East Crestline Plac Aurora CO 80015 $116,000.00
600105004 Casares, Eddy 13322 Nw 1st Terrace Miami FL 33182 $139,811.50
600105005 Warner, Ronald A 345 W 34th Street Miami FL 33140 $124,916.12
600105006 Moore, Donnie D. 7186 Font Avenue Riverside CA 92509 $64,000.00
600105007 Lashari, Mohammad S. 5006 Bellmead Drive Missouri City TX 77459 $124,050.00
600105010 Rich, Kimberly D 5341 Old Oxford Lane Youngstown OH 44512 $99,934.58
600105012 Weisel, Linnette A 55 Lado De Loma Nogales AZ 85621 $143,803.44
600105013 Pataki, Gigi R 8209 Amersham Avenue Las Vegas NV 89129 $112,126.60
600105017 Fisher, Patricia Regina 1807 Forest Avenue Durango CO 81301 $75,449.33
600105019 Keever, James 2700 Nebula Way Las Cruces NM 88011 $59,959.74
600105023 Bernard, Joan 224 Highland Oaks Drive Los Gatos CA 95032 $83,646.63
600105044 Gipson, Brian L. 13348 Trego Street Sylmar CA 91342 $120,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104984 Wahler, James 7.750 .250 7.500 .0500 7.450 11/01/2027
600104988 Matthews, Ronnie R 8.125 .250 7.875 .0500 7.825 10/01/2027
600105000 Nasser, Yousef 8.000 .250 7.750 .0500 7.700 11/01/2027
600105004 Casares, Eddy 8.000 .250 7.750 .0500 7.700 09/01/2027
600105005 Warner, Ronald A 8.000 .250 7.750 .0500 7.700 10/01/2027
600105006 Moore, Donnie D. 8.125 .250 7.875 .0500 7.825 11/01/2027
600105007 Lashari, Mohammad S. 8.000 .250 7.750 .0500 7.700 11/01/2027
600105010 Rich, Kimberly D 8.125 .250 7.875 .0500 7.825 10/01/2027
600105012 Weisel, Linnette A 8.000 .250 7.750 .0500 7.700 10/01/2027
600105013 Pataki, Gigi R 8.125 .250 7.875 .0500 7.825 10/01/2027
600105017 Fisher, Patricia Regina 8.000 .250 7.750 .0500 7.700 10/01/2027
600105019 Keever, James 8.000 .250 7.750 .0500 7.700 10/01/2027
600105023 Bernard, Joan 8.250 .250 8.000 .0500 7.950 10/01/2027
600105044 Gipson, Brian L. 8.250 .250 8.000 .0500 7.950 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104984 Wahler, James 276885 $922.74 11/01/1997 360
600104988 Matthews, Ronnie R 276985 $853.88 11/01/1997 360
600105000 Nasser, Yousef 277471 $851.17 11/01/1997 360
600105004 Casares, Eddy 277538 $1,027.27 11/01/1997 360
600105005 Warner, Ronald A 277551 $917.21 11/01/1997 360
600105006 Moore, Donnie D. 277562 $475.20 11/01/1997 360
600105007 Lashari, Mohammad S. 277583 $910.23 11/01/1997 360
600105010 Rich, Kimberly D 277968 $742.50 11/01/1997 360
600105012 Weisel, Linnette A 278098 $1,055.89 11/01/1997 360
600105013 Pataki, Gigi R 278122 $833.09 12 11/01/1997 360
600105017 Fisher, Patricia Regina 278208 $554.00 11/01/1997 360
600105019 Keever, James 278221 $440.26 11/01/1997 360
600105023 Bernard, Joan 278325 $628.81 11/01/1997 360
600105044 Gipson, Brian L. 279006 $901.52 11/01/1997 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>
600104984 Wahler, James $190,000.00 N
600104988 Matthews, Ronnie R $156,500.00 N
600105000 Nasser, Yousef $145,000.00 N
600105004 Casares, Eddy $210,000.00 N
600105005 Warner, Ronald A $285,000.00 N
600105006 Moore, Donnie D. $115,000.00 N
600105007 Lashari, Mohammad S. $155,075.00 N
600105010 Rich, Kimberly D $150,000.00 N
600105012 Weisel, Linnette A $179,900.00 N
600105013 Pataki, Gigi R $132,000.00 N
600105017 Fisher, Patricia Regina $149,500.00 N
600105019 Keever, James $120,000.00 N
600105023 Bernard, Joan $350,000.00 N
600105044 Gipson, Brian L. $200,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 37
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105055 Reed, Karlene S 3342 E Desert Flower Ln Phoenix AZ 85044 $109,926.18
600105097 Armeno, Virginia 7108 NW 67th Street Tamarac FL 33319 $52,431.08
600105101 Ryan, Bette B. 8300 Tavaros Drive Plano TX 75024 $102,900.00
600105108 Jones, Gem 2209 Sharpshire Lane Arlington TX 76014 $54,961.18
600105112 Hardway, William Edward 8382 Kingfisher Drive Huntington Beac CA 92646 $205,465.50
600105126 Lorber, Daniel L. 138-26 58th Avenue Flushing NY 11355 $153,227.37
600105128 Ha, Gu Young 713 Cedar Crest Drive Nashville TN 37209 $123,575.09
600105130 Frederick, Jonathan 8 Race Track Hollow Middlefield CT 06455 $139,434.56
600105132 Myers, Jeffrey L. 1208 Hubbell Drive Virginia Beach VA 23454 $66,357.66
600105133 Watkins, Jr., Melvin J 8209 Abbyhill Place Tampa FL 33615 $63,500.00
600105134 King, Sandy 4103 11th Street Court We Palmetto FL 34221 $100,000.00
600105135 Beaty Jr, Edward W 6 Barons Way Savannah GA 31419 $115,200.00
600105137 Yskamp, Peter A. 6051 Se Alder Hill Loop Milwaukie OR 97267 $134,000.00
600105138 Ozment, Monroe S 725 Little Neck Road Virginia Beach VA 23452 $58,421.24
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105055 Reed, Karlene S 8.000 .250 7.750 .0500 7.700 10/01/2027
600105097 Armeno, Virginia 8.125 .250 7.875 .0500 7.825 09/01/2027
600105101 Ryan, Bette B. 8.000 .250 7.750 .0500 7.700 11/01/2027
600105108 Jones, Gem 7.750 .250 7.500 .0500 7.450 10/01/2027
600105112 Hardway, William Edward 8.125 .250 7.875 .0500 7.825 10/01/2027
600105126 Lorber, Daniel L. 8.875 .250 8.625 .0500 8.575 09/01/2027
600105128 Ha, Gu Young 8.500 .250 8.250 .0500 8.200 10/01/2027
600105130 Frederick, Jonathan 8.625 .250 8.375 .0500 8.325 09/01/2027
600105132 Myers, Jeffrey L. 8.250 .250 8.000 .0500 7.950 10/01/2027
600105133 Watkins, Jr., Melvin J 8.250 .250 8.000 .0500 7.950 11/01/2027
600105134 King, Sandy 8.250 .250 8.000 .0500 7.950 11/01/2027
600105135 Beaty Jr, Edward W 8.250 .250 8.000 .0500 7.950 11/01/2027
600105137 Yskamp, Peter A. 8.250 .250 8.000 .0500 7.950 11/01/2027
600105138 Ozment, Monroe S 8.000 .250 7.750 .0500 7.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105055 Reed, Karlene S 279484 $807.15 11/01/1997 360
600105097 Armeno, Virginia 281603 $389.81 11/01/1997 360
600105101 Ryan, Bette B. 281696 $755.04 11/01/1997 360
600105108 Jones, Gem 282104 $394.03 11/01/1997 360
600105112 Hardway, William Edward 282456 $1,526.58 11/01/1997 360
600105126 Lorber, Daniel L. 282743 $1,220.52 11/01/1997 360
600105128 Ha, Gu Young 282755 $950.76 11/01/1997 360
600105130 Frederick, Jonathan 282759 $1,085.80 11/01/1997 360
600105132 Myers, Jeffrey L. 282825 $498.84 11/01/1997 360
600105133 Watkins, Jr., Melvin J 282840 $477.06 1 11/01/1997 360
600105134 King, Sandy 282879 $751.27 11/01/1997 360
600105135 Beaty Jr, Edward W 282885 $865.46 11/01/1997 360
600105137 Yskamp, Peter A. 282952 $1,006.70 11/01/1997 360
600105138 Ozment, Monroe S 282956 $429.25 11/01/1997 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>
600105055 Reed, Karlene S $300,000.00 N
600105097 Armeno, Virginia $70,000.00 N
600105101 Ryan, Bette B. $147,000.00 N
600105108 Jones, Gem $69,000.00 N
600105112 Hardway, William Edward $257,000.00 N
600105126 Lorber, Daniel L. $236,000.00 N
600105128 Ha, Gu Young $155,000.00 N
600105130 Frederick, Jonathan $174,620.00 N
600105132 Myers, Jeffrey L. $83,000.00 N
600105133 Watkins, Jr., Melvin J $72,500.00 N
600105134 King, Sandy $400,000.00 N
600105135 Beaty Jr, Edward W $144,000.00 N
600105137 Yskamp, Peter A. $167,500.00 N
600105138 Ozment, Monroe S $78,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 38
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105139 Dill, Patricia 4401 E. Lake Circle North Littleton CO 80121 $94,436.59
600105140 Musa, Ibrahim M 4016 Hirst Drive Annandale VA 22003 $101,600.00
600105141 Sansom, Iris D. 400 Portree Way Cantonment FL 32533 $109,928.04
600105143 Montoya, Kathleen Whalen 823 West 209th Street Torrance CA 90502 $124,800.00
600105145 Menghi, William M. 4828 W. Cedr Pt. Riverton UT 84065 $122,000.00
600105146 Selden, Rena 530 East Piping Rock Rd Phoenix AZ 85022 $96,735.04
600105151 Burrington, Steve C 3881 East 364th Street Willoughby OH 44094 $75,150.00
600105153 Goman, Valentin 4016 West Beverly Lane Phoenix AZ 85023 $132,800.00
600105154 Neal, Keith A. 8395 Goldsport Circle Huntington Beac CA 92646 $131,911.43
600105155 Smith, William P 9432 Telkaif Street Lakeside CA 92040 $157,499.50
600105156 Quezada, Marie V. 1154 Clarkson Street Denver CO 80218 $200,729.36
600105157 Satterfield, James L. 25952 Via Marejada Mission Viejo CA 92691 $191,874.41
600105158 Shapiro, Leonard 8540 De Soto Avenue #49 Canoga Park CA 91304 $101,130.36
600105159 Gibson, John E. 1313 Faiview Drive Fort Collins CO 80521 $92,678.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105139 Dill, Patricia 8.000 .250 7.750 .0500 7.700 10/01/2027
600105140 Musa, Ibrahim M 7.750 .250 7.500 .0500 7.450 11/01/2027
600105141 Sansom, Iris D. 8.125 .250 7.875 .0500 7.825 10/01/2027
600105143 Montoya, Kathleen Whalen 8.000 .250 7.750 .0500 7.700 11/01/2027
600105145 Menghi, William M. 8.000 .250 7.750 .0500 7.700 11/01/2027
600105146 Selden, Rena 8.000 .250 7.750 .0500 7.700 10/01/2027
600105151 Burrington, Steve C 7.875 .250 7.625 .0500 7.575 11/01/2027
600105153 Goman, Valentin 8.250 .250 8.000 .0500 7.950 11/01/2027
600105154 Neal, Keith A. 8.000 .250 7.750 .0500 7.700 10/01/2027
600105155 Smith, William P 8.250 .250 8.000 .0500 7.950 10/01/2027
600105156 Quezada, Marie V. 8.000 .250 7.750 .0500 7.700 09/01/2027
600105157 Satterfield, James L. 8.125 .250 7.875 .0500 7.825 10/01/2027
600105158 Shapiro, Leonard 7.875 .250 7.625 .0500 7.575 10/01/2027
600105159 Gibson, John E. 8.125 .250 7.875 .0500 7.825 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105139 Dill, Patricia 282968 $693.41 11/01/1997 360
600105140 Musa, Ibrahim M 283011 $727.88 11/01/1997 360
600105141 Sansom, Iris D. 283018 $816.75 11/01/1997 360
600105143 Montoya, Kathleen Whalen 283047 $915.74 11/01/1997 360
600105145 Menghi, William M. 283075 $895.20 11/01/1997 360
600105146 Selden, Rena 283106 $710.29 11/01/1997 360
600105151 Burrington, Steve C 283432 $544.89 11/01/1997 360
600105153 Goman, Valentin 283520 $997.69 11/01/1997 360
600105154 Neal, Keith A. 283583 $968.57 11/01/1997 360
600105155 Smith, William P 283590 $1,184.00 11/01/1997 360
600105156 Quezada, Marie V. 283595 $1,474.87 11/01/1997 360
600105157 Satterfield, James L. 283600 $1,425.59 11/01/1997 360
600105158 Shapiro, Leonard 283604 $733.77 11/01/1997 360
600105159 Gibson, John E. 283614 $689.04 11/01/1997 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>
600105139 Dill, Patricia $135,000.00 N
600105140 Musa, Ibrahim M $127,000.00 N
600105141 Sansom, Iris D. $162,500.00 N
600105143 Montoya, Kathleen Whalen $156,000.00 N
600105145 Menghi, William M. $152,500.00 N
600105146 Selden, Rena $121,000.00 N
600105151 Burrington, Steve C $113,000.00 N
600105153 Goman, Valentin $166,000.00 N
600105154 Neal, Keith A. $182,000.00 N
600105155 Smith, William P $197,000.00 N
600105156 Quezada, Marie V. $315,000.00 N
600105157 Satterfield, James L. $240,000.00 N
600105158 Shapiro, Leonard $126,500.00 N
600105159 Gibson, John E. $116,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 39
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105160 Bragar, Norman H. 18927 Chase Street Northridge CA 91324 $136,410.71
600105161 Jiwani, Mehmood K. 2209 Grand Canyon Court Carrollton TX 75006 $129,408.53
600105162 Greenfield, Betty Jo 4634 Maytime Lane #232 Culver City CA 90230 $130,310.26
600105163 Vardara, Philip G. 3612 24th Street Sacramento CA 95818 $107,036.96
600105164 Begel, Alla 933 17th Street #7 Santa Monica CA 90403 $199,862.36
600105165 Johnson, Carl Douglas 547 Aliso Avenue Newport Beach CA 92663 $164,886.45
600105166 Elfant, Florence 647 Jacon Way Pacific Palisad CA 90272 $80,941.38
600105167 Silvestar, Igor 5142 Powers Ferry Road Atlanta GA 30328 $214,452.31
600105168 Gordon, Jr., Robert Mario 10180 West 8th Avenue Lakewood CO 80215 $95,930.52
600105169 Debree, Mary Margaret 4524 N. Peachtree Rd. Atlanta GA 30338 $87,943.89
600105170 Lum, Tyrus 2003 Ripley Avenue Redondo Beach CA 90278 $203,859.61
600105171 Richards, Lawrence H 3991 South Uravan Street Aurora CO 80013 $86,258.10
600105172 Gilreath, Robert S 3279 South Flamingo Way Denver CO 80222 $89,884.83
600105173 Lundgren, Jon 116 North Lohrum Lane Anaheim CA 92807 $168,683.83
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105160 Bragar, Norman H. 8.125 .250 7.875 .0500 7.825 10/01/2027
600105161 Jiwani, Mehmood K. 7.750 .250 7.500 .0500 7.450 10/01/2027
600105162 Greenfield, Betty Jo 7.875 .250 7.625 .0500 7.575 10/01/2027
600105163 Vardara, Philip G. 8.000 .250 7.750 .0500 7.700 09/01/2027
600105164 Begel, Alla 7.875 .250 7.625 .0500 7.575 10/01/2027
600105165 Johnson, Carl Douglas 7.875 .250 7.625 .0500 7.575 10/01/2027
600105166 Elfant, Florence 7.625 .250 7.375 .0500 7.325 10/01/2027
600105167 Silvestar, Igor 7.875 .250 7.625 .0500 7.575 10/01/2027
600105168 Gordon, Jr., Robert Mario 7.625 .250 7.375 .0500 7.325 10/01/2027
600105169 Debree, Mary Margaret 8.250 .250 8.000 .0500 7.950 10/01/2027
600105170 Lum, Tyrus 7.875 .250 7.625 .0500 7.575 10/01/2027
600105171 Richards, Lawrence H 8.125 .250 7.875 .0500 7.825 09/01/2027
600105172 Gilreath, Robert S 8.250 .250 8.000 .0500 7.950 09/01/2027
600105173 Lundgren, Jon 7.875 .250 7.625 .0500 7.575 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105160 Bragar, Norman H. 283618 $1,013.51 11/01/1997 360
600105161 Jiwani, Mehmood K. 283653 $928.47 11/01/1997 360
600105162 Greenfield, Betty Jo 283677 $945.49 11/01/1997 360
600105163 Vardara, Philip G. 283683 $792.47 11/01/1997 360
600105164 Begel, Alla 283693 $1,450.14 11/01/1997 360
600105165 Johnson, Carl Douglas 283694 $1,196.36 11/01/1997 360
600105166 Elfant, Florence 283697 $573.31 11/01/1997 360
600105167 Silvestar, Igor 283701 $1,556.00 11/01/1997 360
600105168 Gordon, Jr., Robert Mario 283704 $679.48 11/01/1997 360
600105169 Debree, Mary Margaret 283705 $661.11 11/01/1997 360
600105170 Lum, Tyrus 283713 $1,479.14 11/01/1997 360
600105171 Richards, Lawrence H 283717 $641.52 11/01/1997 360
600105172 Gilreath, Robert S 283732 $676.14 11/01/1997 360
600105173 Lundgren, Jon 283780 $1,223.92 11/01/1997 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>
600105160 Bragar, Norman H. $182,000.00 N
600105161 Jiwani, Mehmood K. $162,000.00 N
600105162 Greenfield, Betty Jo $169,000.00 N
600105163 Vardara, Philip G. $135,000.00 N
600105164 Begel, Alla $250,000.00 N
600105165 Johnson, Carl Douglas $365,000.00 N
600105166 Elfant, Florence $535,000.00 N
600105167 Silvestar, Igor $270,750.00 N
600105168 Gordon, Jr., Robert Mario $120,000.00 N
600105169 Debree, Mary Margaret $165,000.00 N
600105170 Lum, Tyrus $255,000.00 N
600105171 Richards, Lawrence H $109,900.00 N
600105172 Gilreath, Robert S $120,000.00 N
600105173 Lundgren, Jon $211,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 40
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105174 Albee, Grace M. 307 Woodcrest Drive Richardson TX 75080 $78,346.05
600105175 Turner, Paula 2127 Doar Road Chapel Hill NC 27514 $154,596.78
600105176 Curtis, Catherine T 335-337 Harvard Avenue Claremont CA 91711 $205,354.96
600105177 Marbury, Herbert R. 1432 Allegheny Street Atlanta GA 30310 $55,123.77
600105178 Hong, Yong Rye 2840 West Hollywood #1w Chicago IL 60659 $93,538.77
600105179 Fields, Ivy June 809 West 229th Street Torrance CA 90502 $64,456.72
600105180 Dale, Derrick D. 1334 Downing Street Denver CO 80218 $129,824.97
600105181 Kim, Su Nam 8143 North Grace Avenue Niles IL 60714 $119,923.48
600105182 Figueroa, David E 1100 Kilpatrick Road Hendersonville NC 28739 $81,298.12
600105183 Whaley, Mary Sue 2129 West Virginia Avenue Phoenix AZ 85009 $104,933.05
600105184 Davis, Garry J. 3120 English Oak Drive Cumming GA 30041 $183,623.54
600105185 Do, Mai T 6907 Bevis Ave Van Nuys CA 91405 $117,912.08
600105189 Pirozzi, David 213 Suydam Street New Brunswick NJ 08901 $106,200.00
600105190 Church, James D 101 Slim Drive Chester CA 96020 $184,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105174 Albee, Grace M. 7.875 .250 7.625 .0500 7.575 10/01/2027
600105175 Turner, Paula 8.125 .250 7.875 .0500 7.825 09/01/2027
600105176 Curtis, Catherine T 7.750 .250 7.500 .0500 7.450 10/01/2027
600105177 Marbury, Herbert R. 7.875 .250 7.625 .0500 7.575 09/01/2027
600105178 Hong, Yong Rye 8.125 .250 7.875 .0500 7.825 10/01/2027
600105179 Fields, Ivy June 8.000 .250 7.750 .0500 7.700 10/01/2027
600105180 Dale, Derrick D. 8.000 .250 7.750 .0500 7.700 09/01/2027
600105181 Kim, Su Nam 8.250 .250 8.000 .0500 7.950 10/01/2027
600105182 Figueroa, David E 8.250 .250 8.000 .0500 7.950 10/01/2027
600105183 Whaley, Mary Sue 8.250 .250 8.000 .0500 7.950 10/01/2027
600105184 Davis, Garry J. 7.875 .250 7.625 .0500 7.575 10/01/2027
600105185 Do, Mai T 7.750 .250 7.500 .0500 7.450 10/01/2027
600105189 Pirozzi, David 8.500 .250 8.250 .0500 8.200 11/01/2027
600105190 Church, James D 8.625 .250 8.375 .0500 8.325 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105174 Albee, Grace M. 283784 $568.45 11/01/1997 360
600105175 Turner, Paula 283793 $1,149.39 11/01/1997 360
600105176 Curtis, Catherine T 283794 $1,472.23 11/01/1997 360
600105177 Marbury, Herbert R. 283800 $400.24 11/01/1997 360
600105178 Hong, Yong Rye 283812 $694.98 11/01/1997 360
600105179 Fields, Ivy June 283818 $473.28 11/01/1997 360
600105180 Dale, Derrick D. 283823 $953.89 11/01/1997 360
600105181 Kim, Su Nam 283832 $901.52 11/01/1997 360
600105182 Figueroa, David E 283833 $611.16 11/01/1997 360
600105183 Whaley, Mary Sue 283849 $788.83 11/01/1997 360
600105184 Davis, Garry J. 283863 $1,332.32 11/01/1997 360
600105185 Do, Mai T 283934 $845.37 11/01/1997 360
600105189 Pirozzi, David 284345 $816.59 12 11/01/1997 360
600105190 Church, James D 285238 $1,431.13 11/01/1997 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>
600105174 Albee, Grace M. $104,550.00 N
600105175 Turner, Paula $193,500.00 N
600105176 Curtis, Catherine T $325,000.00 N
600105177 Marbury, Herbert R. $69,000.00 N
600105178 Hong, Yong Rye $117,000.00 N
600105179 Fields, Ivy June $115,000.00 N
600105180 Dale, Derrick D. $200,000.00 N
600105181 Kim, Su Nam $160,000.00 N
600105182 Figueroa, David E $116,250.00 N
600105183 Whaley, Mary Sue $140,000.00 N
600105184 Davis, Garry J. $245,000.00 N
600105185 Do, Mai T $148,000.00 N
600105189 Pirozzi, David $118,000.00 N
600105190 Church, James D $230,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 41
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:01:53 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
LOAN # OF CURRENT P ROPERTY ORIG LOAN
** POOL ----- ------- ------- - -------- --------- -----
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
LOAN # OF ------ ------ ------ ----- ------
** POOL ----- ------- ------ ------ ------ ----- ------
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
LOAN # OF COUNT BUYDOWN BALANE VALUE AMOU
** POOL ----- ------- ** TOTAL 560 00 65,95,213.92 95,050,988.00
<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>
LOAN # OF NT P & I
** POOL ----- ------- 66,061,594.30 500,267.89
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013632 Sargent ,Joseph Al 9601 Edelweis Street Rancho Cucamong CA 91730 $88,583.69
60013633 Clymer ,Daniel A 5010 71st Street Urbandale IA 50322 $104,412.74
60013634 Petrakis ,Leah C 35 Elm Court Cohasset MA 2025 $156,681.41
60013635 King ,Mark A. 829 East Wilmington Avenu Salt Lake City UT 84106 $63,576.29
60013636 Thai-Nguyen ,Denise 2256 Kettle Drive Orlando FL 32835 $158,104.16
60013637 Majeed ,Aiesha 90-27 201st Street Hollis NY 11423 $59,238.95
60013638 Mcginnis ,Joseph J. 8 Patricia Road Danvers MA 1923 $151,425.70
60013639 Lopez ,Keith 4254 Greenbriar Lane Fort Lauderdale FL 33331 $108,350.00
60013641 Urena ,Jose A 142 Hale Avenue Brooklyn NY 11208 $160,123.90
60013642 Belecario ,Dario R 506 South 61st Street San Diego CA 92114 $99,985.12
60013644 Calil ,Rita E. 141 SW 33 Avenue Miami FL 33135 $101,133.08
60013645 Oestreicher ,Thomas 2110 Julia Goldbach Avenu Ronkonkoma NY 11779 $86,052.72
60013646 Boudreau ,David 1610 Hermitage Drive Round Rock TX 78681 $94,688.04
60013647 Dickerson ,Glen 1932 White Grand Junction CO 81501 $51,880.03
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013632 Sargent ,Joseph Al 8.750 .250 8.500 .0400 8.460 12/01/2016
60013633 Clymer ,Daniel A 8.125 .250 7.875 .0400 7.835 10/01/2027
60013634 Petrakis ,Leah C 8.875 .250 8.625 .0400 8.585 02/01/2027
60013635 King ,Mark A. 8.750 .250 8.500 .0400 8.460 02/01/2017
60013636 Thai-Nguyen ,Denise 8.500 .250 8.250 .0400 8.210 10/01/2027
60013637 Majeed ,Aiesha 8.750 .250 8.500 .0400 8.460 03/01/2017
60013638 Mcginnis ,Joseph J. 8.875 .250 8.625 .0400 8.585 02/01/2017
60013639 Lopez ,Keith 8.375 .250 8.125 .0400 8.085 11/01/2027
60013641 Urena ,Jose A 8.375 .250 8.125 .0400 8.085 04/01/2017
60013642 Belecario ,Dario R 8.875 .250 8.625 .0400 8.585 03/01/2017
60013644 Calil ,Rita E. 8.750 .250 8.500 .0400 8.460 10/01/2027
60013645 Oestreicher ,Thomas 8.875 .250 8.625 .0400 8.585 04/01/2017
60013646 Boudreau ,David 8.500 .250 8.250 .0400 8.210 04/01/2027
60013647 Dickerson ,Glen 8.875 .250 8.625 .0400 8.585 04/01/2017
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013632 Sargent ,Joseph Al 200302 $808.60 11/01/1997 240
60013633 Clymer ,Daniel A 215579 $776.29 11/01/1997 360
60013634 Petrakis ,Leah C 216245 $1,253.14 11/01/1997 360
60013635 King ,Mark A. 219266 $569.99 11/01/1997 240
60013636 Thai-Nguyen ,Denise 221350 $1,216.42 11/01/1997 360
60013637 Majeed ,Aiesha 221755 $530.23 11/01/1997 240
60013638 Mcginnis ,Joseph J. 222883 $1,382.14 11/01/1997 240
60013639 Lopez ,Keith 223007 $823.54 11/01/1997 360
60013641 Urena ,Jose A 225298 $1,393.08 11/01/1997 240
60013642 Belecario ,Dario R 226707 $902.85 11/01/1997 240
60013644 Calil ,Rita E. 227126 $796.53 11/01/1997 360
60013645 Oestreicher ,Thomas 228457 $775.79 11/01/1997 240
60013646 Boudreau ,David 229129 $731.24 11/01/1997 360
60013647 Dickerson ,Glen 229679 $468.14 11/01/1997 240
<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>
60013632 Sargent ,Joseph Al $131,000.00 N
60013633 Clymer ,Daniel A $144,000.00 N
60013634 Petrakis ,Leah C $213,000.00 N
60013635 King ,Mark A. $132,000.00 N
60013636 Thai-Nguyen ,Denise $248,205.00 N
60013637 Majeed ,Aiesha $160,000.00 N
60013638 Mcginnis ,Joseph J. $225,000.00 N
60013639 Lopez ,Keith $144,470.00 N
60013641 Urena ,Jose A $216,000.00 N
60013642 Belecario ,Dario R $135,000.00 N
60013644 Calil ,Rita E. $135,000.00 N
60013645 Oestreicher ,Thomas $116,000.00 N
60013646 Boudreau ,David $118,900.00 N
60013647 Dickerson ,Glen $70,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013648 Hurd ,Richard R 2120 West 400 South Cedar City UT 84720 $194,756.75
60013649 Hedgpeth ,Belden 35876 Blakesley Creek Roa Philomath OR 97370 $117,061.40
60013650 Karnowski ,Gary A. 6734 Hill Park Court Greendale WI 53129 $94,673.53
60013652 Sciubba ,Steven P 24 Proctor Avenue Latham NY 12110 $90,325.33
60013654 Hatley ,Dale B 820 Holiday Avenue Hazelwood MO 63042 $64,637.24
60013655 Hein ,Susan Dia 74-810 Ulua''oa Street Kailua Kona HI 96740 $149,831.19
60013656 Campagna ,Salvatore 42 River Street Lodi NJ 7644 $134,844.09
60013657 Clayton ,Thomas S. 23942 Via Onda Valencia CA 91355 $169,894.34
60013658 Demello ,Craig Wil 1050 North Point #708 San Francisco CA 94109 $94,130.40
60013659 Gutierrez ,Santos I. 317 North Thirteenth Stre Santa Paula CA 93060 $66,248.39
60013660 Messina ,Nancy 149-07 123rd Street South Ozone Par NY 11420 $168,210.74
60013661 Butcher ,Randy A 1360 Lipowitz Avenue Crescent City CA 95531 $69,359.26
60013662 Booth ,Kerry Sue 11381 West 71st Place Arvada CO 80004 $87,500.00
60013664 Bowden ,Charles L 257 Winter Park Drive Winter Park CO 80482 $154,046.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013648 Hurd ,Richard R 8.375 .250 8.125 .0400 8.085 10/01/2027
60013649 Hedgpeth ,Belden 8.875 .250 8.625 .0400 8.585 04/01/2017
60013650 Karnowski ,Gary A. 8.625 .250 8.375 .0400 8.335 04/01/2017
60013652 Sciubba ,Steven P 8.625 .250 8.375 .0400 8.335 05/01/2017
60013654 Hatley ,Dale B 8.500 .250 8.250 .0400 8.210 05/01/2017
60013655 Hein ,Susan Dia 8.875 .250 8.625 .0400 8.585 09/01/2027
60013656 Campagna ,Salvatore 8.750 .250 8.500 .0400 8.460 10/01/2027
60013657 Clayton ,Thomas S. 8.375 .250 8.125 .0400 8.085 10/01/2027
60013658 Demello ,Craig Wil 9.000 .250 8.750 .0400 8.710 05/01/2017
60013659 Gutierrez ,Santos I. 8.500 .250 8.250 .0400 8.210 05/01/2017
60013660 Messina ,Nancy 8.750 .250 8.500 .0400 8.460 08/01/2017
60013661 Butcher ,Randy A 9.000 .250 8.750 .0400 8.710 05/01/2017
60013662 Booth ,Kerry Sue 8.750 .250 8.500 .0400 8.460 11/01/2027
60013664 Bowden ,Charles L 8.875 .250 8.625 .0400 8.585 07/01/2017
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013648 Hurd ,Richard R 229690 $1,482.14 11/01/1997 360
60013649 Hedgpeth ,Belden 230195 $1,070.04 11/01/1997 240
60013650 Karnowski ,Gary A. 231111 $840.73 11/01/1997 240
60013652 Sciubba ,Steven P 232612 $798.68 11/01/1997 240
60013654 Hatley ,Dale B 233709 $570.16 12 11/01/1997 240
60013655 Hein ,Susan Dia 234219 $1,193.47 11/01/1997 360
60013656 Campagna ,Salvatore 235633 $1,062.05 11/01/1997 360
60013657 Clayton ,Thomas S. 236364 $1,292.12 11/01/1997 360
60013658 Demello ,Craig Wil 236593 $854.74 11/01/1997 240
60013659 Gutierrez ,Santos I. 237653 $580.57 11/01/1997 240
60013660 Messina ,Nancy 237810 $1,493.47 11/01/1997 240
60013661 Butcher ,Randy A 238072 $629.81 11/01/1997 240
60013662 Booth ,Kerry Sue 238388 $688.37 11/01/1997 360
60013664 Bowden ,Charles L 239880 $1,382.14 11/01/1997 240
<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>
60013648 Hurd ,Richard R $260,000.00 N
60013649 Hedgpeth ,Belden $234,000.00 N
60013650 Karnowski ,Gary A. $154,000.00 N
60013652 Sciubba ,Steven P $115,000.00 N
60013654 Hatley ,Dale B $73,000.00 N
60013655 Hein ,Susan Dia $200,000.00 N
60013656 Campagna ,Salvatore $169,000.00 N
60013657 Clayton ,Thomas S. $212,500.00 N
60013658 Demello ,Craig Wil $197,500.00 N
60013659 Gutierrez ,Santos I. $124,000.00 N
60013660 Messina ,Nancy $260,000.00 N
60013661 Butcher ,Randy A $100,000.00 N
60013662 Booth ,Kerry Sue $137,500.00 N
60013664 Bowden ,Charles L $236,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013666 Mackwish ,Beverlie 5418 Nicholas Court Pipersville PA 18901 $201,471.39
60013667 Miller ,Gary 1 Waters Ave Hicksville NY 11801 $82,796.72
60013668 Sloves ,Tylee A. 1871 Bourne Court Wantagh NY 11793 $175,796.74
60013669 Weinhold ,Terrence 7069 Chesapeak Circle Boynton Beach FL 33462 $99,931.18
60013670 Nguyen ,Phuong 338 Suydam Street Brooklyn NY 11237 $99,750.00
60013671 Sarikas ,Kostas 32 Robin Lane Farmingdale NY 11735 $165,972.53
60013673 Craddick ,Joyce F. 918 Mary Jane Avenue Ashland OR 97520 $111,596.38
60013674 Jones ,Evelina P 86 Elliot Place Freeport NY 11520 $104,875.57
60013675 Condos ,Louis 21 Amarillos Drive Key Haven FL 33041 $196,625.49
60013676 Kehoe ,James L. 4629 East Williams Drive Phoenix AZ 85024 $173,327.90
60013677 Sagrillo ,Walter Ed 1949 Maverick Glen Escondido CA 92027 $59,613.15
60013678 Ricigliano ,Daniel A. 6601 Ward Road Niagara Falls NY 14304 $90,448.80
60013679 Fonseca ,Ralph 14349 SW 166 Street Miami FL 33177 $94,292.84
60013681 Lombardi ,Mary 183 Bernard Drive Middletown NJ 7748 $185,650.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013666 Mackwish ,Beverlie 7.875 .250 7.625 .0400 7.585 09/01/2027
60013667 Miller ,Gary 8.500 .250 8.250 .0400 8.210 08/01/2027
60013668 Sloves ,Tylee A. 8.750 .250 8.500 .0400 8.460 09/01/2027
60013669 Weinhold ,Terrence 7.875 .250 7.625 .0400 7.585 10/01/2027
60013670 Nguyen ,Phuong 8.875 .250 8.625 .0400 8.585 11/01/2027
60013671 Sarikas ,Kostas 8.875 .250 8.625 .0400 8.585 07/01/2017
60013673 Craddick ,Joyce F. 8.875 .250 8.625 .0400 8.585 07/01/2027
60013674 Jones ,Evelina P 8.625 .250 8.375 .0400 8.335 09/01/2027
60013675 Condos ,Louis 8.750 .250 8.500 .0400 8.460 06/01/2017
60013676 Kehoe ,James L. 8.250 .250 8.000 .0400 7.960 09/01/2027
60013677 Sagrillo ,Walter Ed 8.500 .250 8.250 .0400 8.210 07/01/2017
60013678 Ricigliano ,Daniel A. 9.000 .250 8.750 .0400 8.710 07/01/2017
60013679 Fonseca ,Ralph 8.500 .250 8.250 .0400 8.210 10/01/2027
60013681 Lombardi ,Mary 8.875 .250 8.625 .0400 8.585 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013666 Mackwish ,Beverlie 240349 $1,462.83 11/01/1997 360
60013667 Miller ,Gary 241413 $638.20 11/01/1997 360
60013668 Sloves ,Tylee A. 241837 $1,384.59 11/01/1997 360
60013669 Weinhold ,Terrence 242132 $725.07 11/01/1997 360
60013670 Nguyen ,Phuong 242386 $793.66 11/01/1997 360
60013671 Sarikas ,Kostas 242957 $1,489.14 11/01/1997 240
60013673 Craddick ,Joyce F. 243101 $889.93 11/01/1997 360
60013674 Jones ,Evelina P 243369 $816.68 11/01/1997 360
60013675 Condos ,Louis 243700 $1,767.42 11/01/1997 240
60013676 Kehoe ,James L. 244042 $1,303.83 11/01/1997 360
60013677 Sagrillo ,Walter Ed 244417 $520.69 11/01/1997 240
60013678 Ricigliano ,Daniel A. 244858 $818.76 11/01/1997 240
60013679 Fonseca ,Ralph 244877 $725.47 11/01/1997 360
60013681 Lombardi ,Mary 245716 $1,477.12 11/01/1997 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>
60013666 Mackwish ,Beverlie $269,002.00 N
60013667 Miller ,Gary $153,000.00 N
60013668 Sloves ,Tylee A. $235,000.00 N
60013669 Weinhold ,Terrence $156,813.00 N
60013670 Nguyen ,Phuong $133,000.00 N
60013671 Sarikas ,Kostas $225,000.00 N
60013673 Craddick ,Joyce F. $139,900.00 N
60013674 Jones ,Evelina P $175,000.00 N
60013675 Condos ,Louis $260,000.00 N
60013676 Kehoe ,James L. $216,985.00 N
60013677 Sagrillo ,Walter Ed $148,000.00 N
60013678 Ricigliano ,Daniel A. $130,000.00 N
60013679 Fonseca ,Ralph $118,490.00 N
60013681 Lombardi ,Mary $247,540.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013682 Vardevaryan ,Armen 12654 Miranda Street North Hollywood CA 91607 $115,661.42
60013683 Hagerty ,Eldon E. 9251 North Poquita Valley Prescott Valley AZ 86314 $87,946.69
60013685 Wold ,Harry 15180 S W Barcelona Way Beaverton OR 97007 $138,803.99
60013686 Slevin ,Patrick 7 Borden Street Monmouth Beach NJ 7750 $131,172.51
60013687 Koerner ,Dean R. 1921 West 550 North West Point UT 84015 $143,833.70
60013688 Lacy ,Patricia 6720 Willow Lake Circle Fort Myers FL 33912 $129,919.20
60013689 Lehne ,Michael D 7956-7958 Samantha Way Sacramento CA 95827 $65,418.09
60013690 Lehne ,Michael D 7960-7962 Samantha Way Sacramento CA 95828 $65,418.09
60013691 Lehne ,Michael D 8040-8042 Blackhawk Drive Sacramento CA 95828 $65,418.09
60013692 Lehne ,Michael D 8000-8002 Blackhawk Drive Sacramento CA 95828 $65,418.09
60013693 Lehne ,Michael D 8020-8022 Blackhawk Drive Sacramento CA 95827 $65,418.09
60013694 Lehne ,Michael D 7968-7970 Samantha Way Sacramento CA 95828 $65,418.09
60013695 Lehne ,Michael D 8030-8032 Blackhawk Drive Sacramento CA 95828 $65,418.09
60013696 Mink ,Rebecca A 56856 Enterprise Drive # Sunriver OR 97707 $58,931.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013682 Vardevaryan ,Armen 8.750 .250 8.500 .0400 8.460 06/01/2027
60013683 Hagerty ,Eldon E. 8.500 .250 8.250 .0400 8.210 10/01/2027
60013685 Wold ,Harry 8.875 .250 8.625 .0400 8.585 07/01/2027
60013686 Slevin ,Patrick 8.625 .250 8.375 .0400 8.335 10/01/2027
60013687 Koerner ,Dean R. 8.750 .250 8.500 .0400 8.460 09/01/2027
60013688 Lacy ,Patricia 8.375 .250 8.125 .0400 8.085 10/01/2027
60013689 Lehne ,Michael D 9.000 .250 8.750 .0400 8.710 07/01/2027
60013690 Lehne ,Michael D 9.000 .250 8.750 .0400 8.710 07/01/2027
60013691 Lehne ,Michael D 9.000 .250 8.750 .0400 8.710 07/01/2027
60013692 Lehne ,Michael D 9.000 .250 8.750 .0400 8.710 07/01/2027
60013693 Lehne ,Michael D 9.000 .250 8.750 .0400 8.710 07/01/2027
60013694 Lehne ,Michael D 9.000 .250 8.750 .0400 8.710 07/01/2027
60013695 Lehne ,Michael D 9.000 .250 8.750 .0400 8.710 07/01/2027
60013696 Mink ,Rebecca A 8.750 .250 8.500 .0400 8.460 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013682 Vardevaryan ,Armen 246046 $912.57 11/01/1997 360
60013683 Hagerty ,Eldon E. 246069 $676.64 11/01/1997 360
60013685 Wold ,Harry 246309 $1,107.54 11/01/1997 360
60013686 Slevin ,Patrick 247049 $1,020.85 11/01/1997 360
60013687 Koerner ,Dean R. 247581 $1,132.85 11/01/1997 360
60013688 Lacy ,Patricia 248162 $988.09 11/01/1997 360
60013689 Lehne ,Michael D 248832 $527.84 11/01/1997 360
60013690 Lehne ,Michael D 248833 $527.84 11/01/1997 360
60013691 Lehne ,Michael D 248834 $527.84 11/01/1997 360
60013692 Lehne ,Michael D 248838 $527.84 11/01/1997 360
60013693 Lehne ,Michael D 248840 $527.84 11/01/1997 360
60013694 Lehne ,Michael D 248841 $527.84 11/01/1997 360
60013695 Lehne ,Michael D 248844 $527.84 11/01/1997 360
60013696 Mink ,Rebecca A 248902 $464.15 11/01/1997 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>
60013682 Vardevaryan ,Armen $145,000.00 N
60013683 Hagerty ,Eldon E. $110,000.00 N
60013685 Wold ,Harry $174,000.00 N
60013686 Slevin ,Patrick $175,000.00 N
60013687 Koerner ,Dean R. $180,000.00 N
60013688 Lacy ,Patricia $180,000.00 N
60013689 Lehne ,Michael D $82,000.00 N
60013690 Lehne ,Michael D $82,000.00 N
60013691 Lehne ,Michael D $82,000.00 N
60013692 Lehne ,Michael D $86,000.00 N
60013693 Lehne ,Michael D $82,000.00 N
60013694 Lehne ,Michael D $82,000.00 N
60013695 Lehne ,Michael D $82,000.00 N
60013696 Mink ,Rebecca A $79,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013697 Caso ,Manuel 14244 Sw 183 Terr Miami FL 33177 $60,000.00
60013698 Smith ,Charles E 75-5888 Alii Drive, Apt. Kailua Kona HI 96740 $89,901.31
60013699 Balestra ,Richard J 4782 Ellen Circle Syracuse NY 13215 $76,473.89
60013700 Schatz ,Ronald J. 67-66 108th Street Apt. C Flushing NY 11375 $80,908.85
60013701 Mosier ,James R 607 Sampton Road South Plainfiel NJ 7080 $132,032.59
60013702 Roll ,Michael C Hc 88 Box 3626 Big Timber MT 59011 $100,000.00
60013703 Holder ,Mark A. 4517 East Juniper Avenue Phoenix AZ 85032 $92,947.86
60013704 Tamasese ,Paliva Pe 430 Keoniana Street #1407 Honolulu HI 96815 $87,907.21
60013705 Rizzo Jr. ,James M. 465 Medford Street Somerville MA 2145 $59,613.11
60013706 Schultz ,Michael S 5 Spar Pole Lane Bluffton SC 29910 $104,600.00
60013707 Schiffer ,Dwaine R. 350 Highland Drive Medford OR 97504 $65,090.63
60013708 Lahr ,Diane M 20807 Lakeland Street Saint Clair Sho MI 48081 $80,397.49
60013709 King ,Ronald D. 381 East 36th Street Paterson NJ 7505 $127,765.71
60013710 Marending ,Cathy 12010 Ridge Road Golden CO 80403 $117,250.91
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013697 Caso ,Manuel 8.375 .250 8.125 .0400 8.085 11/01/2027
60013698 Smith ,Charles E 9.000 .250 8.750 .0400 8.710 09/01/2027
60013699 Balestra ,Richard J 8.375 .250 8.125 .0400 8.085 08/01/2017
60013700 Schatz ,Ronald J. 8.875 .250 8.625 .0400 8.585 09/01/2027
60013701 Mosier ,James R 8.625 .250 8.375 .0400 8.335 09/01/2017
60013702 Roll ,Michael C 8.500 .250 8.250 .0400 8.210 11/01/2027
60013703 Holder ,Mark A. 8.875 .250 8.625 .0400 8.585 10/01/2027
60013704 Tamasese ,Paliva Pe 8.250 .250 8.000 .0400 7.960 07/01/2017
60013705 Rizzo Jr. ,James M. 8.500 .250 8.250 .0400 8.210 07/01/2017
60013706 Schultz ,Michael S 8.625 .250 8.375 .0400 8.335 11/01/2027
60013707 Schiffer ,Dwaine R. 8.750 .250 8.500 .0400 8.460 07/01/2017
60013708 Lahr ,Diane M 8.375 .250 8.125 .0400 8.085 08/01/2027
60013709 King ,Ronald D. 8.500 .250 8.250 .0400 8.210 09/01/2027
60013710 Marending ,Cathy 8.625 .250 8.375 .0400 8.335 07/01/2017
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013697 Caso ,Manuel 249019 $456.05 11/01/1997 360
60013698 Smith ,Charles E 249020 $724.16 11/01/1997 360
60013699 Balestra ,Richard J 249460 $660.85 11/01/1997 240
60013700 Schatz ,Ronald J. 249498 $644.47 11/01/1997 360
60013701 Mosier ,James R 249515 $1,159.94 11/01/1997 240
60013702 Roll ,Michael C 249567 $768.91 11/01/1997 360
60013703 Holder ,Mark A. 249687 $739.95 11/01/1997 360
60013704 Tamasese ,Paliva Pe 249871 $756.21 11/01/1997 240
60013705 Rizzo Jr. ,James M. 250176 $520.70 11/01/1997 240
60013706 Schultz ,Michael S 250188 $813.57 12 11/01/1997 360
60013707 Schiffer ,Dwaine R. 250323 $578.83 11/01/1997 240
60013708 Lahr ,Diane M 250342 $612.62 11/01/1997 360
60013709 King ,Ronald D. 250502 $984.21 11/01/1997 360
60013710 Marending ,Cathy 250587 $1,033.39 11/01/1997 240
<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>
60013697 Caso ,Manuel $116,235.00 N
60013698 Smith ,Charles E $150,000.00 N
60013699 Balestra ,Richard J $102,500.00 N
60013700 Schatz ,Ronald J. $108,000.00 N
60013701 Mosier ,James R $183,000.00 N
60013702 Roll ,Michael C $160,000.00 N
60013703 Holder ,Mark A. $118,000.00 N
60013704 Tamasese ,Paliva Pe $125,000.00 N
60013705 Rizzo Jr. ,James M. $220,000.00 N
60013706 Schultz ,Michael S $110,130.00 N
60013707 Schiffer ,Dwaine R. $128,000.00 N
60013708 Lahr ,Diane M $124,000.00 N
60013709 King ,Ronald D. $160,000.00 N
60013710 Marending ,Cathy $195,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013712 Diponzio ,Theodore Fox Hollow Road T/o Brunswick NY 12180 $199,051.21
60013713 Hendee ,William 1445 E. Laredo Street Chandler AZ 85225 $169,813.58
60013714 Max ,Kenneth R 6811 East Sheena Drive Scottsdale AZ 85254 $99,168.73
60013715 Willett ,Bruce E 9795 Garden Lane Cornville AZ 86325 $103,663.81
60013716 Roman ,John M. 325 Helena Court Oakley CA 94561 $123,454.61
60013717 Stoepker ,Kathleen 21 Hunter Boulevard West Milford NJ 7480 $118,131.54
60013718 Thomas ,Edrice 646 East 86th Street Brooklyn NY 11226 $206,658.24
60013719 Briner ,Brian A. W10376 School Road Hortonville WI 54944 $157,308.50
60013720 Huish ,Dale A 4450 E Desert Lane Higley AZ 85236 $209,859.09
60013721 Conger ,Darlene S 10454 Reeck Allen Park MI 48101 $99,884.50
60013723 Rea ,Linda P. 1763 West Oraibi Drive Phoenix AZ 85027 $63,843.27
60013724 Sirimanne ,Sriyantha 1717 West 62nd Street #1, Los Angeles CA 90047 $151,807.02
60013725 Morrison ,Stuart An 800 Cole Road Aromas CA 95004 $195,773.65
60013726 Shoemaker ,Richard D 1700 West 2250 North Helper UT 84526 $74,955.72
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013712 Diponzio ,Theodore 8.625 .250 8.375 .0400 8.335 08/01/2017
60013713 Hendee ,William 9.000 .250 8.750 .0400 8.710 09/01/2027
60013714 Max ,Kenneth R 8.750 .250 8.500 .0400 8.460 07/01/2027
60013715 Willett ,Bruce E 8.250 .250 8.000 .0400 7.960 07/01/2027
60013716 Roman ,John M. 8.625 .250 8.375 .0400 8.335 08/01/2027
60013717 Stoepker ,Kathleen 8.875 .250 8.625 .0400 8.585 07/01/2027
60013718 Thomas ,Edrice 9.000 .250 8.750 .0400 8.710 08/01/2027
60013719 Briner ,Brian A. 8.500 .250 8.250 .0400 8.210 09/01/2027
60013720 Huish ,Dale A 8.000 .250 7.750 .0400 7.710 10/01/2027
60013721 Conger ,Darlene S 8.750 .250 8.500 .0400 8.460 10/01/2027
60013723 Rea ,Linda P. 8.500 .250 8.250 .0400 8.210 07/01/2027
60013724 Sirimanne ,Sriyantha 8.250 .250 8.000 .0400 7.960 08/01/2027
60013725 Morrison ,Stuart An 8.750 .250 8.500 .0400 8.460 09/01/2027
60013726 Shoemaker ,Richard D 8.625 .250 8.375 .0400 8.335 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013712 Diponzio ,Theodore 251232 $1,751.50 11/01/1997 240
60013713 Hendee ,William 251680 $1,367.86 11/01/1997 360
60013714 Max ,Kenneth R 251709 $781.98 11/01/1997 360
60013715 Willett ,Bruce E 251714 $781.32 11/01/1997 360
60013716 Roman ,John M. 251923 $962.51 11/01/1997 360
60013717 Stoepker ,Kathleen 251972 $942.04 11/01/1997 360
60013718 Thomas ,Edrice 252000 $1,665.57 2 11/01/1997 360
60013719 Briner ,Brian A. 252044 $1,211.04 11/01/1997 360
60013720 Huish ,Dale A 252345 $1,540.91 11/01/1997 360
60013721 Conger ,Darlene S 252610 $786.71 11/01/1997 360
60013723 Rea ,Linda P. 252685 $492.10 11/01/1997 360
60013724 Sirimanne ,Sriyantha 252964 $1,142.68 12 11/01/1997 360
60013725 Morrison ,Stuart An 253043 $1,541.93 1 11/01/1997 360
60013726 Shoemaker ,Richard D 253062 $583.34 11/01/1997 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>
60013712 Diponzio ,Theodore $270,000.00 N
60013713 Hendee ,William $212,606.00 N
60013714 Max ,Kenneth R $142,000.00 N
60013715 Willett ,Bruce E $160,000.00 N
60013716 Roman ,John M. $165,000.00 N
60013717 Stoepker ,Kathleen $148,000.00 N
60013718 Thomas ,Edrice $230,000.00 N
60013719 Briner ,Brian A. $210,000.00 N
60013720 Huish ,Dale A $325,000.00 N
60013721 Conger ,Darlene S $250,000.00 N
60013723 Rea ,Linda P. $80,000.00 N
60013724 Sirimanne ,Sriyantha $169,000.00 N
60013725 Morrison ,Stuart An $207,000.00 N
60013726 Shoemaker ,Richard D $100,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013727 Roberts ,Gennie Ne 5461 Royal Vista Lane Las Vegas NV 89129 $112,751.22
60013728 Benejam ,Carla Jea 24 Talbot Street Salinas CA 93901 $121,864.73
60013729 Nizza ,Vincent 210 West End Avenue Freeport NY 11520 $67,917.30
60013730 Neuberger ,Scot L. 3848 East Tano Street Phoenix AZ 85044 $83,799.45
60013731 Bolte ,Matt 357 6th Avenue Unit #2 Brooklyn NY 11215 $175,281.06
60013733 Tobler ,Evan G 7610 Maryland Avenue Anchorage AK 99504 $73,412.89
60013734 Mingot ,Jean-clau 4 Kaymac Street Brentwood NY 11717 $84,901.83
60013735 Johnson Jr ,John E 128 Atlantic Avenue Freeport NY 11520 $109,938.33
60013736 Bayer ,Robert 24013 Kirkcaldy Circle Canoga Park CA 91307 $211,034.80
60013737 Muscat ,Jack 18760 Dove Court Middletown CA 95461 $58,918.53
60013739 Sebastian ,Phillip C 6015 N. Camino De Santa V Tucson AZ 85718 $149,817.62
60013740 Le Ray ,Peter 1901 Walnut Street, Apt 1 Philadelphia PA 19103 $72,676.65
60013741 Levine ,Shari E 67 Irma Drive Oceanside NY 11572 $168,000.00
60013742 Pechackova ,Blazena 4128 Amber Ridge Lane Valrico FL 33594 $101,390.10
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013727 Roberts ,Gennie Ne 9.000 .250 8.750 .0400 8.710 09/01/2027
60013728 Benejam ,Carla Jea 8.375 .250 8.125 .0400 8.085 07/01/2027
60013729 Nizza ,Vincent 8.500 .250 8.250 .0400 8.210 09/01/2027
60013730 Neuberger ,Scot L. 8.625 .250 8.375 .0400 8.335 07/01/2027
60013731 Bolte ,Matt 8.375 .250 8.125 .0400 8.085 09/01/2027
60013733 Tobler ,Evan G 8.625 .250 8.375 .0400 8.335 09/01/2027
60013734 Mingot ,Jean-clau 8.750 .250 8.500 .0400 8.460 09/01/2027
60013735 Johnson Jr ,John E 8.875 .250 8.625 .0400 8.585 10/01/2027
60013736 Bayer ,Robert 7.625 .250 7.375 .0400 7.335 08/01/2027
60013737 Muscat ,Jack 7.875 .250 7.625 .0400 7.585 09/01/2027
60013739 Sebastian ,Phillip C 8.500 .250 8.250 .0400 8.210 09/01/2027
60013740 Le Ray ,Peter 8.875 .250 8.625 .0400 8.585 09/01/2027
60013741 Levine ,Shari E 8.250 .250 8.000 .0400 7.960 11/01/2027
60013742 Pechackova ,Blazena 8.625 .250 8.375 .0400 8.335 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013727 Roberts ,Gennie Ne 253276 $908.22 11/01/1997 360
60013728 Benejam ,Carla Jea 253455 $929.19 11/01/1997 360
60013729 Nizza ,Vincent 253651 $522.87 11/01/1997 360
60013730 Neuberger ,Scot L. 253679 $653.35 11/01/1997 360
60013731 Bolte ,Matt 253796 $1,333.93 7 11/01/1997 360
60013733 Tobler ,Evan G 253983 $571.68 11/01/1997 360
60013734 Mingot ,Jean-clau 254080 $668.70 11/01/1997 360
60013735 Johnson Jr ,John E 254172 $875.21 11/01/1997 360
60013736 Bayer ,Robert 254382 $1,496.98 11/01/1997 360
60013737 Muscat ,Jack 254480 $427.79 11/01/1997 360
60013739 Sebastian ,Phillip C 254634 $1,153.37 11/01/1997 360
60013740 Le Ray ,Peter 254656 $579.23 11/01/1997 360
60013741 Levine ,Shari E 254882 $1,262.13 11/01/1997 360
60013742 Pechackova ,Blazena 254974 $789.07 11/01/1997 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>
60013727 Roberts ,Gennie Ne $150,500.00 N
60013728 Benejam ,Carla Jea $163,000.00 N
60013729 Nizza ,Vincent $85,000.00 N
60013730 Neuberger ,Scot L. $112,000.00 N
60013731 Bolte ,Matt $195,000.00 N
60013733 Tobler ,Evan G $98,000.00 N
60013734 Mingot ,Jean-clau $121,500.00 N
60013735 Johnson Jr ,John E $170,000.00 N
60013736 Bayer ,Robert $235,000.00 N
60013737 Muscat ,Jack $107,000.00 N
60013739 Sebastian ,Phillip C $210,000.00 N
60013740 Le Ray ,Peter $91,000.00 N
60013741 Levine ,Shari E $224,000.00 N
60013742 Pechackova ,Blazena $135,818.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013743 Taylor ,Gary D 260 Willmary Road Johnson City TN 37601 $159,824.54
60013744 Brisson ,James J. 69-1723 Puako Beach Drive Kamuela HI 96743 $200,000.00
60013745 Croft ,Douglas O 4243 West Old Miller Cour Salt Lake City UT 84118 $52,411.05
60013746 Halter ,Ron 1701 North Lincoln Street Burbank CA 91506 $122,516.67
60013748 Balter ,James H. 6506 Leonardo Street Miami FL 33146 $149,118.46
60013749 Gonzalez ,Tracie M. 1018 Aspri Way West Palm Beach FL 33418 $122,937.85
60013750 Ledbetter ,Pamela J. 100 Topaz Place Markleeville CA 96120 $115,866.04
60013751 Fortuin ,Kenneth C Saddlemire Road, Box 206 Knox NY 12107 $69,868.56
60013752 Ramos ,Ophelia C 4203 Clairemont Drive San Diego CA 92117 $114,790.48
60013754 Johnston ,Scott E. 2120 East Willow Park Lan Salt Lake City UT 84093 $199,730.71
60013755 Tortorella ,Anthony 484 Mountainview Road Valley Cottage NY 10989 $150,000.00
60013756 Costa ,Manuel 540 2nd Avenue Elizabeth NJ 7207 $163,986.84
60013757 Levy ,Allen 914 Dunham Road East Meadow NY 11554 $134,902.29
60013758 Little ,James E 694 Brownwood Avenue Atlanta GA 30316 $89,890.57
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013743 Taylor ,Gary D 9.000 .250 8.750 .0400 8.710 09/01/2027
60013744 Brisson ,James J. 8.500 .250 8.250 .0400 8.210 11/01/2027
60013745 Croft ,Douglas O 8.875 .250 8.625 .0400 8.585 09/01/2027
60013746 Halter ,Ron 7.500 .250 7.250 .0400 7.210 08/01/2027
60013748 Balter ,James H. 8.500 .250 8.250 .0400 8.210 10/01/2027
60013749 Gonzalez ,Tracie M. 8.625 .250 8.375 .0400 8.335 08/01/2027
60013750 Ledbetter ,Pamela J. 8.750 .250 8.500 .0400 8.460 09/01/2027
60013751 Fortuin ,Kenneth C 8.375 .250 8.125 .0400 8.085 08/01/2027
60013752 Ramos ,Ophelia C 8.250 .250 8.000 .0400 7.960 08/01/2017
60013754 Johnston ,Scott E. 8.000 .250 7.750 .0400 7.710 09/01/2027
60013755 Tortorella ,Anthony 8.500 .250 8.250 .0400 8.210 11/01/2027
60013756 Costa ,Manuel 9.000 .250 8.750 .0400 8.710 07/01/2027
60013757 Levy ,Allen 7.625 .250 7.375 .0400 7.335 10/01/2027
60013758 Little ,James E 8.500 .250 8.250 .0400 8.210 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013743 Taylor ,Gary D 254993 $1,287.40 11/01/1997 360
60013744 Brisson ,James J. 255057 $1,537.83 11/01/1997 360
60013745 Croft ,Douglas O 255084 $417.71 11/01/1997 360
60013746 Halter ,Ron 255180 $863.53 11/01/1997 360
60013748 Balter ,James H. 255269 $1,147.99 11/01/1997 360
60013749 Gonzalez ,Tracie M. 255365 $958.24 11/01/1997 360
60013750 Ledbetter ,Pamela J. 255580 $912.57 11/01/1997 360
60013751 Fortuin ,Kenneth C 255748 $532.05 11/01/1997 360
60013752 Ramos ,Ophelia C 255961 $988.40 11/01/1997 240
60013754 Johnston ,Scott E. 256111 $1,467.53 11/01/1997 360
60013755 Tortorella ,Anthony 256135 $1,153.38 11/01/1997 360
60013756 Costa ,Manuel 256186 $1,322.40 12 11/01/1997 360
60013757 Levy ,Allen 256233 $955.52 11/01/1997 360
60013758 Little ,James E 256312 $692.02 1 11/01/1997 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>
60013743 Taylor ,Gary D $200,000.00 N
60013744 Brisson ,James J. $253,000.00 N
60013745 Croft ,Douglas O $75,000.00 N
60013746 Halter ,Ron $190,000.00 N
60013748 Balter ,James H. $220,000.00 N
60013749 Gonzalez ,Tracie M. $154,000.00 N
60013750 Ledbetter ,Pamela J. $155,000.00 N
60013751 Fortuin ,Kenneth C $100,000.00 N
60013752 Ramos ,Ophelia C $145,000.00 N
60013754 Johnston ,Scott E. $540,000.00 N
60013755 Tortorella ,Anthony $220,000.00 N
60013756 Costa ,Manuel $173,000.00 N
60013757 Levy ,Allen $185,000.00 N
60013758 Little ,James E $100,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013759 Huang ,May Lin 312 Lake Shore Drive Lake Hiawatha NJ 7034 $93,693.20
60013760 Calace ,Elbio R. 2421 Ala Wai Boulevard Honolulu HI 96815 $87,219.89
60013761 Chirrick ,Michael R 5042 Mozart Drive Las Vegas NV 89102 $75,464.74
60013762 Marzella ,Nicola 41 Cooke St Staten Island NY 10314 $142,339.65
60013763 Le Favor ,Richard J 7666 Mariner Point Osseo MN 55311 $159,795.24
60013764 Brown ,William B 3278 Emerald Street Rosamond CA 93560 $57,686.68
60013765 Nelson ,David J 387 Mcbean Park Drive Lincoln CA 95648 $152,064.88
60013768 Weiner ,Betty 7-18 Cross Meadow Drive Fair Lawn NJ 7410 $129,046.91
60013769 Ramos ,Virgilio 16-1312 Pahoa Government Keaau HI 96749 $115,927.90
60013770 Keeling ,Bill 41532 Willow Run Road Temecula CA 92591 $137,245.41
60013771 Serrano ,Robert D 1048 Elm Avenue Seaside CA 93955 $76,402.10
60013772 Berry ,James 38246 Wheeler Road Dexter OR 97431 $94,556.32
60013773 Dodson ,Constance 8600 East Alameda #12-205 Denver CO 80231 $58,131.53
60013774 Medina ,Gloria M. 5680 Calmor Court #3 San Jose CA 95123 $87,838.95
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013759 Huang ,May Lin 8.500 .250 8.250 .0400 8.210 10/01/2027
60013760 Calace ,Elbio R. 8.500 .250 8.250 .0400 8.210 09/01/2017
60013761 Chirrick ,Michael R 8.500 .250 8.250 .0400 8.210 08/01/2027
60013762 Marzella ,Nicola 8.875 .250 8.625 .0400 8.585 09/01/2027
60013763 Le Favor ,Richard J 8.250 .250 8.000 .0400 7.960 09/01/2027
60013764 Brown ,William B 9.000 .250 8.750 .0400 8.710 09/01/2027
60013765 Nelson ,David J 8.500 .250 8.250 .0400 8.210 09/01/2027
60013768 Weiner ,Betty 8.625 .250 8.375 .0400 8.335 09/01/2027
60013769 Ramos ,Virgilio 8.375 .250 8.125 .0400 8.085 10/01/2027
60013770 Keeling ,Bill 8.250 .250 8.000 .0400 7.960 08/01/2027
60013771 Serrano ,Robert D 8.250 .250 8.000 .0400 7.960 10/01/2027
60013772 Berry ,James 8.750 .250 8.500 .0400 8.460 08/01/2017
60013773 Dodson ,Constance 8.875 .250 8.625 .0400 8.585 08/01/2017
60013774 Medina ,Gloria M. 8.500 .250 8.250 .0400 8.210 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013759 Huang ,May Lin 256321 $720.86 11/01/1997 360
60013760 Calace ,Elbio R. 256412 $759.35 11/01/1997 240
60013761 Chirrick ,Michael R 256448 $581.68 11/01/1997 360
60013762 Marzella ,Nicola 256466 $1,133.79 11/01/1997 360
60013763 Le Favor ,Richard J 256682 $1,202.03 11/01/1997 360
60013764 Brown ,William B 256719 $464.67 11/01/1997 360
60013765 Nelson ,David J 256794 $1,170.67 11/01/1997 360
60013768 Weiner ,Betty 256900 $1,004.90 11/01/1997 360
60013769 Ramos ,Virgilio 256910 $881.68 11/01/1997 360
60013770 Keeling ,Bill 256928 $1,033.74 11/01/1997 360
60013771 Serrano ,Robert D 257082 $574.72 12 11/01/1997 360
60013772 Berry ,James 257118 $839.53 11/01/1997 240
60013773 Dodson ,Constance 257130 $520.75 11/01/1997 240
60013774 Medina ,Gloria M. 257188 $676.64 11/01/1997 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>
60013759 Huang ,May Lin $125,000.00 N
60013760 Calace ,Elbio R. $125,000.00 N
60013761 Chirrick ,Michael R $94,600.00 N
60013762 Marzella ,Nicola $190,000.00 N
60013763 Le Favor ,Richard J $202,650.00 N
60013764 Brown ,William B $77,000.00 N
60013765 Nelson ,David J $203,000.00 N
60013768 Weiner ,Betty $161,500.00 N
60013769 Ramos ,Virgilio $145,000.00 N
60013770 Keeling ,Bill $172,000.00 N
60013771 Serrano ,Robert D $85,000.00 N
60013772 Berry ,James $152,000.00 N
60013773 Dodson ,Constance $73,000.00 N
60013774 Medina ,Gloria M. $110,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013776 Moll ,Richard W 1160 Highland Drive Stayton OR 97383 $123,523.47
60013777 Ungar ,Jacob 4910 17th Avenue Apartmen Brooklyn NY 11204 $99,826.13
60013778 Mccoy ,Robert 83 Eppirt Street East Orange NJ 7018 $83,861.33
60013779 Ali ,Firoz 1505 East Elm Road Oak Creek WI 53154 $114,644.87
60013780 Mikayelyan ,Akop Jack 1434 North Sierra Bonita Pasadena CA 91104 $142,308.14
60013781 Lane ,Michael L 2610 N Washburn Road Monroe UT 84754 $114,856.55
60013782 Shores ,David 235 East River Drive East Hartford CT 6108 $142,222.37
60013783 Mc Guire ,Francis J 6940 Fisher Road Howell MI 48843 $74,866.18
60013785 Venkataramanuj,Perialwar 209 Exner Road Darien IL 60561 $178,391.86
60013787 Moeller ,Roy V. 840 Camino De Los Mares San Clemente CA 92673 $114,933.83
60013788 Arguez ,Osliria 183 110th Street Marathon FL 33050 $97,487.29
60013789 Caballero ,Gustavo 13041 Sw 52nd Street Hollywood FL 33027 $123,875.68
60013791 Espinoza ,Barbara A 865-F 2 South B Street Oxnard CA 93030 $52,316.04
60013792 Asmuth ,Paul 2660 Spring Street St. Helena CA 94574 $211,368.54
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013776 Moll ,Richard W 8.500 .250 8.250 .0400 8.210 08/01/2027
60013777 Ungar ,Jacob 8.750 .250 8.500 .0400 8.460 08/01/2027
60013778 Mccoy ,Robert 9.000 .250 8.750 .0400 8.710 08/01/2027
60013779 Ali ,Firoz 8.500 .250 8.250 .0400 8.210 08/01/2017
60013780 Mikayelyan ,Akop Jack 8.000 .250 7.750 .0400 7.710 09/01/2027
60013781 Lane ,Michael L 8.375 .250 8.125 .0400 8.085 10/01/2027
60013782 Shores ,David 8.375 .250 8.125 .0400 8.085 09/01/2027
60013783 Mc Guire ,Francis J 8.625 .250 8.375 .0400 8.335 09/01/2027
60013785 Venkataramanuj,Perialwar 8.500 .250 8.250 .0400 8.210 10/01/2027
60013787 Moeller ,Roy V. 8.750 .250 8.500 .0400 8.460 10/01/2027
60013788 Arguez ,Osliria 8.750 .250 8.500 .0400 8.460 09/01/2027
60013789 Caballero ,Gustavo 9.000 .250 8.750 .0400 8.710 07/01/2027
60013791 Espinoza ,Barbara A 7.875 .250 7.625 .0400 7.585 08/01/2027
60013792 Asmuth ,Paul 8.375 .250 8.125 .0400 8.085 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013776 Moll ,Richard W 257265 $951.54 11/01/1997 360
60013777 Ungar ,Jacob 257312 $786.70 11/01/1997 360
60013778 Mccoy ,Robert 257328 $675.88 11/01/1997 360
60013779 Ali ,Firoz 257457 $999.74 11/01/1997 240
60013780 Mikayelyan ,Akop Jack 257479 $1,045.61 11/01/1997 360
60013781 Lane ,Michael L 257500 $874.08 11/01/1997 360
60013782 Shores ,David 257517 $1,082.34 11/01/1997 360
60013783 Mc Guire ,Francis J 257546 $583.35 11/01/1997 360
60013785 Venkataramanuj,Perialwar 257664 $1,372.52 11/01/1997 360
60013787 Moeller ,Roy V. 257745 $904.71 11/01/1997 360
60013788 Arguez ,Osliria 257783 $767.82 11/01/1997 360
60013789 Caballero ,Gustavo 257811 $998.94 5 11/01/1997 360
60013791 Espinoza ,Barbara A 257907 $380.12 11/01/1997 360
60013792 Asmuth ,Paul 257926 $1,607.55 11/01/1997 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>
60013776 Moll ,Richard W $165,000.00 N
60013777 Ungar ,Jacob $143,000.00 N
60013778 Mccoy ,Robert $120,000.00 N
60013779 Ali ,Firoz $144,000.00 N
60013780 Mikayelyan ,Akop Jack $190,000.00 N
60013781 Lane ,Michael L $194,500.00 N
60013782 Shores ,David $178,000.00 N
60013783 Mc Guire ,Francis J $180,000.00 N
60013785 Venkataramanuj,Perialwar $238,000.00 N
60013787 Moeller ,Roy V. $165,000.00 N
60013788 Arguez ,Osliria $122,000.00 N
60013789 Caballero ,Gustavo $130,700.00 N
60013791 Espinoza ,Barbara A $69,900.00 N
60013792 Asmuth ,Paul $235,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013793 Brown ,Judith 1045 Allesandro Morro Bay CA 93442 $92,000.00
60013794 Achor ,Thomas E. 1922 E. Easy Street Bullhead City AZ 86426 $91,640.24
60013795 Van Gundy ,Todd 3610 & 3612 Clay Street Denver CO 80211 $127,759.66
60013796 Natoli ,Frank A. 251 Storm Drive Holtsville NY 11742 $65,061.57
60013797 Donovan ,Loretta M 471 Brule Street Coos Bay OR 97420 $77,403.32
60013798 Wolder ,Jason 28 Foster Lane Westbury NY 11590 $105,621.41
60013800 Schorsch ,Stephen L 11541 King Snake Court Surprise AZ 85374 $94,372.79
60013801 Tegardine ,Nancy 1106 Via Mariana Chula Vista CA 91910 $152,254.90
60013802 Heavin ,Jane D 7654 S Monaco Circle West Englewood CO 80237 $99,936.23
60013803 Columbo ,Dennis G. 86 Sparrow Court Royal Palm Beac FL 33411 $86,703.60
60013804 Franko, Sr ,Daniel S 3607 Sanford Street Concord CA 94520 $211,748.78
60013805 Gaccione ,Richard 47 Oak Avenue Larchmont NY 10538 $155,000.00
60013806 Gaccione ,Richard 70 Iselin Terrace Larchmont NY 10538 $198,250.00
60013807 Oxley ,Terry J 825 N E 66th Street Seattle WA 98115 $159,392.98
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013793 Brown ,Judith 8.375 .250 8.125 .0400 8.085 11/01/2027
60013794 Achor ,Thomas E. 9.000 .250 8.750 .0400 8.710 04/01/2027
60013795 Van Gundy ,Todd 8.375 .250 8.125 .0400 8.085 08/01/2027
60013796 Natoli ,Frank A. 8.625 .250 8.375 .0400 8.335 10/01/2027
60013797 Donovan ,Loretta M 8.375 .250 8.125 .0400 8.085 10/01/2027
60013798 Wolder ,Jason 8.500 .250 8.250 .0400 8.210 10/01/2027
60013800 Schorsch ,Stephen L 8.500 .250 8.250 .0400 8.210 10/01/2027
60013801 Tegardine ,Nancy 8.250 .250 8.000 .0400 7.960 09/01/2027
60013802 Heavin ,Jane D 8.250 .250 8.000 .0400 7.960 10/01/2027
60013803 Columbo ,Dennis G. 8.000 .250 7.750 .0400 7.710 09/01/2017
60013804 Franko, Sr ,Daniel S 8.625 .250 8.375 .0400 8.335 09/01/2027
60013805 Gaccione ,Richard 8.250 .250 8.000 .0400 7.960 11/01/2027
60013806 Gaccione ,Richard 8.250 .250 8.000 .0400 7.960 11/01/2027
60013807 Oxley ,Terry J 8.000 .250 7.750 .0400 7.710 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013793 Brown ,Judith 257955 $699.27 11/01/1997 360
60013794 Achor ,Thomas E. 257979 $740.25 11/01/1997 360
60013795 Van Gundy ,Todd 258008 $972.89 11/01/1997 360
60013796 Natoli ,Frank A. 258097 $506.34 11/01/1997 360
60013797 Donovan ,Loretta M 258154 $589.06 11/01/1997 360
60013798 Wolder ,Jason 258162 $813.13 11/01/1997 360
60013800 Schorsch ,Stephen L 258192 $726.09 11/01/1997 360
60013801 Tegardine ,Nancy 258315 $1,145.31 11/01/1997 360
60013802 Heavin ,Jane D 258472 $751.27 11/01/1997 360
60013803 Columbo ,Dennis G. 258474 $727.71 11/01/1997 240
60013804 Franko, Sr ,Daniel S 258544 $1,648.91 11/01/1997 360
60013805 Gaccione ,Richard 258548 $1,164.47 11/01/1997 360
60013806 Gaccione ,Richard 258549 $1,489.39 11/01/1997 360
60013807 Oxley ,Terry J 258585 $1,170.35 12 11/01/1997 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>
60013793 Brown ,Judith $115,000.00 N
60013794 Achor ,Thomas E. $115,000.00 N
60013795 Van Gundy ,Todd $162,000.00 N
60013796 Natoli ,Frank A. $93,000.00 N
60013797 Donovan ,Loretta M $96,875.00 N
60013798 Wolder ,Jason $142,000.00 N
60013800 Schorsch ,Stephen L $138,901.00 N
60013801 Tegardine ,Nancy $203,320.00 N
60013802 Heavin ,Jane D $128,000.00 N
60013803 Columbo ,Dennis G. $112,000.00 N
60013804 Franko, Sr ,Daniel S $265,000.00 N
60013805 Gaccione ,Richard $410,000.00 N
60013806 Gaccione ,Richard $319,000.00 N
60013807 Oxley ,Terry J $189,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013808 Gutierrez ,Jose S 317 Neva Place Los Angeles CA 90042 $82,504.62
60013809 Shade ,Edyth L 31 Primrose Amherst NY 14150 $115,000.00
60013810 Pimentel ,Carlos F 1317 Rocky Ridge Road Amsterdam NY 12010 $60,864.96
60013811 Rosco ,Michael D 1300 Uri Court Incline Village NV 89451 $138,127.48
60013812 Berger ,Paul F 209 Avenida Montalvo San Clemente CA 92672 $159,587.65
60013813 Hofheinz ,Corey T 8594 Erinbrook Way Sacramento CA 95826 $115,723.07
60013814 Hakes ,Rod G 890 South 630 East Spanish Fork UT 84660 $140,800.00
60013815 Bryson ,Daovea M. 4461 Morristown Drive Riverside CA 92505 $79,857.29
60013816 Lisandrelli ,Paul L 4988 Alexis Drive Liverpool NY 13090 $81,949.03
60013817 Doucet ,Steven F 111 Third Street Leominster MA 1453 $79,956.30
60013819 Alarcon Cuttin,Rose M. 11600 Deer Hill Lane Prescott AZ 86301 $99,865.35
60013820 Mitchell ,Debra L 3902 View Point Drive Park City UT 84060 $182,800.00
60013823 Seamans ,Gary 5527 Grape St San Diego CA 92105 $91,549.73
60013824 Lombardo ,Anthony E 806 South 5th Street Philadelphia PA 19147 $63,674.43
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013808 Gutierrez ,Jose S 8.750 .250 8.500 .0400 8.460 09/01/2027
60013809 Shade ,Edyth L 8.375 .250 8.125 .0400 8.085 11/01/2027
60013810 Pimentel ,Carlos F 8.750 .250 8.500 .0400 8.460 10/01/2027
60013811 Rosco ,Michael D 8.375 .250 8.125 .0400 8.085 09/01/2027
60013812 Berger ,Paul F 8.250 .250 8.000 .0400 7.960 08/01/2027
60013813 Hofheinz ,Corey T 8.625 .250 8.375 .0400 8.335 07/01/2027
60013814 Hakes ,Rod G 8.250 .250 8.000 .0400 7.960 11/01/2027
60013815 Bryson ,Daovea M. 8.625 .250 8.375 .0400 8.335 09/01/2027
60013816 Lisandrelli ,Paul L 8.375 .250 8.125 .0400 8.085 10/01/2027
60013817 Doucet ,Steven F 9.000 .250 8.750 .0400 8.710 10/01/2027
60013819 Alarcon Cuttin,Rose M. 8.000 .250 7.750 .0400 7.710 09/01/2027
60013820 Mitchell ,Debra L 7.875 .250 7.625 .0400 7.585 11/01/2027
60013823 Seamans ,Gary 8.375 .250 8.125 .0400 8.085 08/01/2017
60013824 Lombardo ,Anthony E 8.625 .250 8.375 .0400 8.335 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013808 Gutierrez ,Jose S 258734 $649.81 11/01/1997 360
60013809 Shade ,Edyth L 258749 $874.09 11/01/1997 360
60013810 Pimentel ,Carlos F 258753 $479.10 11/01/1997 360
60013811 Rosco ,Michael D 258787 $1,051.18 11/01/1997 360
60013812 Berger ,Paul F 258826 $1,202.03 11/01/1997 360
60013813 Hofheinz ,Corey T 258877 $902.24 11/01/1997 360
60013814 Hakes ,Rod G 258953 $1,057.78 11/01/1997 360
60013815 Bryson ,Daovea M. 259138 $622.23 11/01/1997 360
60013816 Lisandrelli ,Paul L 259168 $623.26 11/01/1997 360
60013817 Doucet ,Steven F 259186 $643.70 11/01/1997 360
60013819 Alarcon Cuttin,Rose M. 259330 $733.77 11/01/1997 360
60013820 Mitchell ,Debra L 259428 $1,325.43 11/01/1997 360
60013823 Seamans ,Gary 259639 $791.13 11/01/1997 240
60013824 Lombardo ,Anthony E 259713 $495.85 11/01/1997 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>
60013808 Gutierrez ,Jose S $118,000.00 N
60013809 Shade ,Edyth L $162,000.00 N
60013810 Pimentel ,Carlos F $87,000.00 N
60013811 Rosco ,Michael D $184,500.00 N
60013812 Berger ,Paul F $200,000.00 N
60013813 Hofheinz ,Corey T $145,000.00 N
60013814 Hakes ,Rod G $191,000.00 N
60013815 Bryson ,Daovea M. $110,000.00 N
60013816 Lisandrelli ,Paul L $110,000.00 N
60013817 Doucet ,Steven F $131,000.00 N
60013819 Alarcon Cuttin,Rose M. $286,000.00 N
60013820 Mitchell ,Debra L $228,500.00 N
60013823 Seamans ,Gary $116,000.00 N
60013824 Lombardo ,Anthony E $131,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013825 Stewart ,Don Marsh 12727 Mueller Drive Groveland CA 95321 $95,873.97
60013826 Gutierrez ,Jose G 5426 - 5426 1/2 Geer Aven Los Angeles CA 90016 $104,872.33
60013827 Sinquimani ,Rosa M 14373 Telluride Drive Baldwin Park CA 91706 $175,878.87
60013829 Mociran ,Petru 547 Pitt Road Kingsport TN 37660 $103,873.55
60013830 Pilagonia ,Perry 183 Drake Avenue, 1 F New Rochelle NY 10805 $92,087.89
60013831 Hardin ,Nancy J. Lot 24 Swiss Villa Lam MO 65781 $51,970.84
60013832 Allred ,Daren L 1397 North Main Street Farmington UT 84025 $182,400.00
60013834 Harmon ,Russell L N 12439 14th Avenue Necedah WI 54646 $63,555.31
60013835 Shum ,Amy 520 14th Street N E Salem OR 97301 $89,896.06
60013836 Russell ,Carl D. 8501 Prairie Avenue Urbandale IA 50322 $79,626.37
60013837 Neff ,Robert M 5900 Canterbury Drive A Culver City CA 90230 $87,890.23
60013838 Loader ,Gregory F 277 North 600 East Payson UT 84651 $97,178.00
60013839 Wenner ,James 7805 Sheanadoah Drive Elizabeth CO 80107 $127,118.89
60013840 Wendl ,Hans J 2220 California Street Berkeley CA 94703 $178,958.72
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013825 Stewart ,Don Marsh 8.125 .250 7.875 .0400 7.835 10/01/2027
60013826 Gutierrez ,Jose G 8.500 .250 8.250 .0400 8.210 09/01/2027
60013827 Sinquimani ,Rosa M 7.875 .250 7.625 .0400 7.585 10/01/2027
60013829 Mociran ,Petru 8.500 .250 8.250 .0400 8.210 09/01/2027
60013830 Pilagonia ,Perry 8.500 .250 8.250 .0400 8.210 09/01/2027
60013831 Hardin ,Nancy J. 8.875 .250 8.625 .0400 8.585 10/01/2027
60013832 Allred ,Daren L 8.625 .250 8.375 .0400 8.335 11/01/2027
60013834 Harmon ,Russell L 8.875 .250 8.625 .0400 8.585 09/01/2017
60013835 Shum ,Amy 8.750 .250 8.500 .0400 8.460 10/01/2027
60013836 Russell ,Carl D. 8.750 .250 8.500 .0400 8.460 08/01/2017
60013837 Neff ,Robert M 8.375 .250 8.125 .0400 8.085 09/01/2027
60013838 Loader ,Gregory F 8.250 .250 8.000 .0400 7.960 09/01/2017
60013839 Wenner ,James 8.250 .250 8.000 .0400 7.960 10/01/2027
60013840 Wendl ,Hans J 8.000 .250 7.750 .0400 7.710 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013825 Stewart ,Don Marsh 259754 $712.80 11/01/1997 360
60013826 Gutierrez ,Jose G 259761 $807.36 11/01/1997 360
60013827 Sinquimani ,Rosa M 259799 $1,276.13 11/01/1997 360
60013829 Mociran ,Petru 259891 $799.67 11/01/1997 360
60013830 Pilagonia ,Perry 259913 $708.94 2 11/01/1997 360
60013831 Hardin ,Nancy J. 259916 $413.74 11/01/1997 360
60013832 Allred ,Daren L 259920 $1,418.69 11/01/1997 360
60013834 Harmon ,Russell L 260072 $568.47 11/01/1997 240
60013835 Shum ,Amy 260107 $708.03 11/01/1997 360
60013836 Russell ,Carl D. 260126 $706.97 11/01/1997 240
60013837 Neff ,Robert M 260138 $668.86 11/01/1997 360
60013838 Loader ,Gregory F 260153 $830.76 11/01/1997 240
60013839 Wenner ,James 260160 $955.61 11/01/1997 360
60013840 Wendl ,Hans J 260181 $1,314.91 11/01/1997 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>
60013825 Stewart ,Don Marsh $120,000.00 N
60013826 Gutierrez ,Jose G $155,000.00 N
60013827 Sinquimani ,Rosa M $220,000.00 N
60013829 Mociran ,Petru $145,000.00 N
60013830 Pilagonia ,Perry $102,500.00 N
60013831 Hardin ,Nancy J. $65,000.00 N
60013832 Allred ,Daren L $228,000.00 N
60013834 Harmon ,Russell L $85,000.00 N
60013835 Shum ,Amy $120,000.00 N
60013836 Russell ,Carl D. $133,000.00 N
60013837 Neff ,Robert M $110,000.00 N
60013838 Loader ,Gregory F $130,000.00 N
60013839 Wenner ,James $159,000.00 N
60013840 Wendl ,Hans J $224,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013841 Bains ,Davinder 1734 Ravens Place Way San Jose CA 95121 $186,972.38
60013842 Urgilez ,Manuel 1153 51st Street North Bergen NJ 7047 $74,954.56
60013843 Vaupel ,David Joh 10 Meadow Drive San Rafael CA 94903 $195,755.51
60013844 Roehl ,Nicholas 1030-1038 Taylor Street Eugene OR 97402 $74,891.08
60013845 Ally ,Bibi Tauh 611 Northwest 207th Avenu Pembroke Pines FL 33029 $90,472.88
60013846 Roehl ,Nicholas 1125-1125 1/2 Jackson Str Eugene OR 97402 $101,102.95
60013847 Mckenzie ,Gerard A. 62 Barkers Mill Road Independence To NJ 7840 $154,500.00
60013848 Roehl ,Nicholas 1166-1166 1/2 Hayes St Eugene OR 97402 $78,635.64
60013849 Sangillo ,Stephen A 47 Park Avenue Madison NJ 7940 $167,779.46
60013850 Carlson ,Matthew W 1003 Vine Street Aspen CO 81611 $127,360.20
60013851 Young ,Johnny 17800 West Highway 85 Goodyear AZ 85338 $91,944.27
60013852 Moscara ,Dennis 743 Point View Road Brick NJ 8724 $106,380.13
60013853 Dixon ,Carlis 4733 Olanda Street Lynwood CA 90262 $64,957.48
60013855 Thorpe ,John M. 2035 Catalina Avenue Vista CA 92084 $112,209.58
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013841 Bains ,Davinder 8.500 .250 8.250 .0400 8.210 09/01/2027
60013842 Urgilez ,Manuel 8.500 .250 8.250 .0400 8.210 10/01/2027
60013843 Vaupel ,David Joh 8.375 .250 8.125 .0400 8.085 09/01/2027
60013844 Roehl ,Nicholas 7.625 .250 7.375 .0400 7.335 09/01/2027
60013845 Ally ,Bibi Tauh 8.875 .250 8.625 .0400 8.585 09/01/2017
60013846 Roehl ,Nicholas 7.625 .250 7.375 .0400 7.335 09/01/2027
60013847 Mckenzie ,Gerard A. 7.750 .250 7.500 .0400 7.460 11/01/2027
60013848 Roehl ,Nicholas 7.625 .250 7.375 .0400 7.335 09/01/2027
60013849 Sangillo ,Stephen A 8.125 .250 7.875 .0400 7.835 09/01/2027
60013850 Carlson ,Matthew W 9.000 .250 8.750 .0400 8.710 09/01/2027
60013851 Young ,Johnny 8.500 .250 8.250 .0400 8.210 10/01/2027
60013852 Moscara ,Dennis 8.875 .250 8.625 .0400 8.585 09/01/2027
60013853 Dixon ,Carlis 8.125 .250 7.875 .0400 7.835 10/01/2027
60013855 Thorpe ,John M. 8.875 .250 8.625 .0400 8.585 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013841 Bains ,Davinder 260183 $1,439.41 11/01/1997 360
60013842 Urgilez ,Manuel 260241 $576.69 11/01/1997 360
60013843 Vaupel ,David Joh 260274 $1,489.74 11/01/1997 360
60013844 Roehl ,Nicholas 260283 $530.85 11/01/1997 360
60013845 Ally ,Bibi Tauh 260286 $809.22 11/01/1997 240
60013846 Roehl ,Nicholas 260290 $716.65 11/01/1997 360
60013847 Mckenzie ,Gerard A. 260300 $1,106.86 11/01/1997 360
60013848 Roehl ,Nicholas 260353 $557.39 11/01/1997 360
60013849 Sangillo ,Stephen A 260457 $1,247.40 11/01/1997 360
60013850 Carlson ,Matthew W 260496 $1,025.89 11/01/1997 360
60013851 Young ,Johnny 260552 $707.40 11/01/1997 360
60013852 Moscara ,Dennis 260592 $847.37 11/01/1997 360
60013853 Dixon ,Carlis 260593 $482.62 11/01/1997 360
60013855 Thorpe ,John M. 260614 $894.30 11/01/1997 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>
60013841 Bains ,Davinder $234,000.00 N
60013842 Urgilez ,Manuel $100,000.00 N
60013843 Vaupel ,David Joh $245,000.00 N
60013844 Roehl ,Nicholas $100,000.00 N
60013845 Ally ,Bibi Tauh $121,000.00 N
60013846 Roehl ,Nicholas $135,000.00 N
60013847 Mckenzie ,Gerard A. $216,000.00 N
60013848 Roehl ,Nicholas $105,000.00 N
60013849 Sangillo ,Stephen A $210,000.00 N
60013850 Carlson ,Matthew W $170,000.00 N
60013851 Young ,Johnny $115,000.00 N
60013852 Moscara ,Dennis $142,000.00 N
60013853 Dixon ,Carlis $140,000.00 N
60013855 Thorpe ,John M. $149,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013856 Morby ,Richard L 731 Monument Road Malvern PA 19355 $184,384.82
60013858 Bunyard, Sr. ,Larry K. 8403 Chesterfield Drive Southaven MS 38671 $63,888.72
60013859 Hilberg ,Katherine 7644 East Phillips Circle Englewood CO 80112 $139,263.98
60013860 Villarreal ,Arnulfo H 4664 South Quail Park Dri Salt Lake City UT 84117 $66,267.23
60013861 Lopez ,Jose Sant 505 Majorca Avenue Altamonte Sprin FL 32714 $93,473.98
60013862 Walker ,Bennie L. 3615 Thomas Avenue North Las Vegas NV 89030 $84,906.79
60013863 Walker ,Bennie L. 3601 Tomas Avenue North Las Vegas NV 89030 $83,907.90
60013864 Walker ,Bennie L. 3515 Thomas Avenue North Las Vegas NV 89030 $81,910.08
60013865 Reiger ,Pamela A. 2771 West Calle Cuero De Tucson AZ 85745 $95,889.14
60013866 Cullen ,Susan C 305 Whiteview Road T/o No Troy NY 12180 $82,345.08
60013867 Ferracane ,Joeseph 13 Fernwood Drive T/O Colonie, Lo NY 12211 $130,314.70
60013868 Gaysinskiy ,Leonid 134 Camden Avenue Staten Island NY 10307 $181,897.96
60013869 Arnold ,Stephen L 5286 Forest View Drive Grizzly Flats CA 95636 $164,595.89
60013871 Millar ,Kent 35135 Peterson Road Auberry CA 93602 $114,852.83
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013856 Morby ,Richard L 8.750 .250 8.500 .0400 8.460 09/01/2017
60013858 Bunyard, Sr. ,Larry K. 8.750 .250 8.500 .0400 8.460 08/01/2027
60013859 Hilberg ,Katherine 8.750 .250 8.500 .0400 8.460 09/01/2027
60013860 Villarreal ,Arnulfo H 8.375 .250 8.125 .0400 8.085 09/01/2027
60013861 Lopez ,Jose Sant 8.000 .250 7.750 .0400 7.710 09/01/2027
60013862 Walker ,Bennie L. 9.000 .250 8.750 .0400 8.710 09/01/2027
60013863 Walker ,Bennie L. 9.000 .250 8.750 .0400 8.710 09/01/2027
60013864 Walker ,Bennie L. 9.000 .250 8.750 .0400 8.710 09/01/2027
60013865 Reiger ,Pamela A. 8.750 .250 8.500 .0400 8.460 09/01/2027
60013866 Cullen ,Susan C 8.375 .250 8.125 .0400 8.085 09/01/2027
60013867 Ferracane ,Joeseph 8.125 .250 7.875 .0400 7.835 10/01/2027
60013868 Gaysinskiy ,Leonid 8.875 .250 8.625 .0400 8.585 10/01/2027
60013869 Arnold ,Stephen L 8.500 .250 8.250 .0400 8.210 08/01/2027
60013871 Millar ,Kent 8.250 .250 8.000 .0400 7.960 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013856 Morby ,Richard L 260615 $1,637.08 11/01/1997 240
60013858 Bunyard, Sr. ,Larry K. 260662 $503.49 11/01/1997 360
60013859 Hilberg ,Katherine 260719 $1,096.86 11/01/1997 360
60013860 Villarreal ,Arnulfo H 260733 $504.31 11/01/1997 360
60013861 Lopez ,Jose Sant 260816 $686.80 11/01/1997 360
60013862 Walker ,Bennie L. 260819 $683.93 11/01/1997 360
60013863 Walker ,Bennie L. 260829 $675.88 11/01/1997 360
60013864 Walker ,Bennie L. 260835 $659.79 11/01/1997 360
60013865 Reiger ,Pamela A. 260845 $755.23 11/01/1997 360
60013866 Cullen ,Susan C 260867 $627.06 11/01/1997 360
60013867 Ferracane ,Joeseph 260887 $968.22 11/01/1997 360
60013868 Gaysinskiy ,Leonid 260891 $1,448.08 11/01/1997 360
60013869 Arnold ,Stephen L 260920 $1,268.71 11/01/1997 360
60013871 Millar ,Kent 261000 $863.96 11/01/1997 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>
60013856 Morby ,Richard L $247,000.00 N
60013858 Bunyard, Sr. ,Larry K. $80,000.00 N
60013859 Hilberg ,Katherine $185,900.00 N
60013860 Villarreal ,Arnulfo H $88,500.00 N
60013861 Lopez ,Jose Sant $117,000.00 N
60013862 Walker ,Bennie L. $132,500.00 N
60013863 Walker ,Bennie L. $132,500.00 N
60013864 Walker ,Bennie L. $132,500.00 N
60013865 Reiger ,Pamela A. $120,000.00 N
60013866 Cullen ,Susan C $114,500.00 N
60013867 Ferracane ,Joeseph $163,000.00 N
60013868 Gaysinskiy ,Leonid $227,900.00 N
60013869 Arnold ,Stephen L $220,000.00 N
60013871 Millar ,Kent $180,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013873 Sim ,Chae 979-979 1/2 South Catalin Los Angeles CA 90006 $93,935.65
60013875 Ujifusa ,Edward Y 4913 Mondell Road Las Vegas NV 89130 $101,369.60
60013876 Martin ,Aniece 3383 64th Avenue Oakland CA 94605 $107,865.27
60013879 Ortega ,Pedro M. 14545 Sw 75th Street Miami FL 33183 $139,321.47
60013880 Day ,Kevin Way 477 North 300 East Logan UT 84321 $91,879.23
60013881 Mittag ,Leo J. 779 Snowden Road White Salmon WA 98672 $82,399.69
60013882 Aqui ,Kerrie 8305 Donatello Court Las Vegas NV 89129 $80,735.22
60013883 Sherwood ,Drew S. 807 Faxon Avenue San Francisco CA 94112 $149,787.58
60013884 Stearns ,Martin D 1245 Maple Drive Oakdale CA 95361 $75,076.24
60013887 Jones ,Gregory L 71 East 500 North Salt Lake City UT 84103 $125,854.49
60013889 Torres ,Noemi 221 Elm Road Mahopac NY 10541 $109,936.70
60013890 Barry, Jr. ,Ralph F. 127 West Saddle River Roa Saddle River NJ 7458 $69,919.16
60013891 Sotomayer ,Maricel 1331 S. W. 124 Court #3c Miami FL 33184 $88,446.39
60013892 Conti ,Joanne 232 Target Street Staten Island NY 10304 $103,500.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013873 Sim ,Chae 8.500 .250 8.250 .0400 8.210 09/01/2027
60013875 Ujifusa ,Edward Y 8.875 .250 8.625 .0400 8.585 08/01/2027
60013876 Martin ,Aniece 8.375 .250 8.125 .0400 8.085 10/01/2027
60013879 Ortega ,Pedro M. 8.250 .250 8.000 .0400 7.960 09/01/2027
60013880 Day ,Kevin Way 8.125 .250 7.875 .0400 7.835 09/01/2027
60013881 Mittag ,Leo J. 8.500 .250 8.250 .0400 8.210 09/01/2027
60013882 Aqui ,Kerrie 8.500 .250 8.250 .0400 8.210 09/01/2027
60013883 Sherwood ,Drew S. 7.750 .250 7.500 .0400 7.460 09/01/2027
60013884 Stearns ,Martin D 8.250 .250 8.000 .0400 7.960 10/01/2017
60013887 Jones ,Gregory L 8.750 .250 8.500 .0400 8.460 09/01/2027
60013889 Torres ,Noemi 8.750 .250 8.500 .0400 8.460 10/01/2027
60013890 Barry, Jr. ,Ralph F. 8.750 .250 8.500 .0400 8.460 10/01/2027
60013891 Sotomayer ,Maricel 8.500 .250 8.250 .0400 8.210 10/01/2027
60013892 Conti ,Joanne 8.500 .250 8.250 .0400 8.210 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013873 Sim ,Chae 261088 $723.16 1 11/01/1997 360
60013875 Ujifusa ,Edward Y 261214 $808.38 11/01/1997 360
60013876 Martin ,Aniece 261215 $820.88 11/01/1997 360
60013879 Ortega ,Pedro M. 261294 $1,048.02 11/01/1997 360
60013880 Day ,Kevin Way 261340 $683.10 11/01/1997 360
60013881 Mittag ,Leo J. 261386 $634.35 11/01/1997 360
60013882 Aqui ,Kerrie 261387 $622.44 11/01/1997 360
60013883 Sherwood ,Drew S. 261467 $1,074.62 11/01/1997 360
60013884 Stearns ,Martin D 261473 $640.76 11/01/1997 240
60013887 Jones ,Gregory L 261538 $991.24 11/01/1997 360
60013889 Torres ,Noemi 261600 $865.38 11/01/1997 360
60013890 Barry, Jr. ,Ralph F. 261626 $550.69 11/01/1997 360
60013891 Sotomayer ,Maricel 261641 $680.49 11/01/1997 360
60013892 Conti ,Joanne 261649 $795.83 5 11/01/1997 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>
60013873 Sim ,Chae $99,000.00 N
60013875 Ujifusa ,Edward Y $127,000.00 N
60013876 Martin ,Aniece $150,000.00 N
60013879 Ortega ,Pedro M. $186,000.00 N
60013880 Day ,Kevin Way $115,000.00 N
60013881 Mittag ,Leo J. $122,000.00 N
60013882 Aqui ,Kerrie $120,950.00 N
60013883 Sherwood ,Drew S. $349,000.00 N
60013884 Stearns ,Martin D $94,000.00 N
60013887 Jones ,Gregory L $157,500.00 N
60013889 Torres ,Noemi $142,000.00 N
60013890 Barry, Jr. ,Ralph F. $380,000.00 N
60013891 Sotomayer ,Maricel $112,000.00 N
60013892 Conti ,Joanne $115,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013893 Tishman ,Deborah 66-01 Burns Street #4x Rego Park NY 11374 $98,540.27
60013894 Gabriel ,Timothy R 2906 North Union Ave Tacoma WA 98407 $113,864.89
60013895 Fischbach ,Robert C 2601 5th Avenue Sacramento CA 95818 $119,925.41
60013896 Roth ,Mary Jo 3005 Village Drive Steamboat Sprin CO 80477 $79,905.18
60013897 Majdanac ,Petar B 101 Luna Way #233 Las Vegas NV 89128 $51,705.18
60013899 Ortloff ,Michelann 2153 North East Rodney Av Portland OR 97212 $78,735.00
60013900 Chen ,Paul 5415 Harmon Avenue #1178 Las Vegas NV 89103 $65,360.38
60013901 Ozegovich ,Mary 24 Heckscher Spur Drive East Islip NY 11730 $99,826.13
60013902 Hanson ,Robert J 1009 Royal Saint Georges Florence OR 97439 $190,883.54
60013903 Mcdermott ,Barbara 25 Surryhill Place Huntington NY 11743 $214,132.55
60013904 Ballesteros ,Renee L 326 - 328 South Parish Pl Burbank CA 91506 $204,744.27
60013906 Lee ,Duk Sung 430 Monterey Boulevard San Francisco CA 94127 $209,731.26
60013907 Cselovszki ,Janos 6631 Colfax Avenue North Minneapolis MN 55430 $69,595.28
60013908 Szalonek ,Thad J. 3737 Foster Circle Baldwin Park CA 91706 $113,055.14
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013893 Tishman ,Deborah 8.500 .250 8.250 .0400 8.210 10/01/2027
60013894 Gabriel ,Timothy R 8.625 .250 8.375 .0400 8.335 09/01/2027
60013895 Fischbach ,Robert C 8.375 .250 8.125 .0400 8.085 10/01/2027
60013896 Roth ,Mary Jo 8.625 .250 8.375 .0400 8.335 09/01/2027
60013897 Majdanac ,Petar B 8.500 .250 8.250 .0400 8.210 09/01/2027
60013899 Ortloff ,Michelann 8.125 .250 7.875 .0400 7.835 09/01/2017
60013900 Chen ,Paul 8.500 .250 8.250 .0400 8.210 10/01/2027
60013901 Ozegovich ,Mary 8.750 .250 8.500 .0400 8.460 09/01/2027
60013902 Hanson ,Robert J 8.500 .250 8.250 .0400 8.210 09/01/2027
60013903 Mcdermott ,Barbara 8.375 .250 8.125 .0400 8.085 09/01/2027
60013904 Ballesteros ,Renee L 8.375 .250 8.125 .0400 8.085 09/01/2027
60013906 Lee ,Duk Sung 8.250 .250 8.000 .0400 7.960 09/01/2027
60013907 Cselovszki ,Janos 8.500 .250 8.250 .0400 8.210 09/01/2027
60013908 Szalonek ,Thad J. 8.250 .250 8.000 .0400 7.960 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013893 Tishman ,Deborah 261658 $758.15 1 11/01/1997 360
60013894 Gabriel ,Timothy R 261683 $886.69 11/01/1997 360
60013895 Fischbach ,Robert C 261694 $912.09 11/01/1997 360
60013896 Roth ,Mary Jo 261746 $622.24 11/01/1997 360
60013897 Majdanac ,Petar B 261752 $398.30 11/01/1997 360
60013899 Ortloff ,Michelann 261817 $666.95 11/01/1997 240
60013900 Chen ,Paul 261819 $502.87 11/01/1997 360
60013901 Ozegovich ,Mary 261845 $786.70 11/01/1997 360
60013902 Hanson ,Robert J 261866 $1,476.31 11/01/1997 360
60013903 Mcdermott ,Barbara 261869 $1,629.59 11/01/1997 360
60013904 Ballesteros ,Renee L 261870 $1,558.15 7 11/01/1997 360
60013906 Lee ,Duk Sung 261896 $1,577.66 11/01/1997 360
60013907 Cselovszki ,Janos 261967 $535.78 11/01/1997 360
60013908 Szalonek ,Thad J. 261981 $850.43 11/01/1997 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>
60013893 Tishman ,Deborah $116,000.00 N
60013894 Gabriel ,Timothy R $152,000.00 N
60013895 Fischbach ,Robert C $160,000.00 N
60013896 Roth ,Mary Jo $170,000.00 N
60013897 Majdanac ,Petar B $74,000.00 N
60013899 Ortloff ,Michelann $172,500.00 N
60013900 Chen ,Paul $93,450.00 N
60013901 Ozegovich ,Mary $146,900.00 N
60013902 Hanson ,Robert J $240,000.00 N
60013903 Mcdermott ,Barbara $330,000.00 N
60013904 Ballesteros ,Renee L $230,000.00 N
60013906 Lee ,Duk Sung $280,000.00 N
60013907 Cselovszki ,Janos $87,100.00 N
60013908 Szalonek ,Thad J. $151,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013909 Martin ,Deborah A 20 Hart Place Mastic NY 11950 $84,644.26
60013911 Kornahrens ,Katherine 5703 St. Angela Drive Charleston SC 29418 $132,625.67
60013912 Curnow ,Ernest 162 & 164 Railway Ave Quincy CA 95971 $79,755.72
60013913 Cleary ,Nancy L. 50 Kosmas Street Marlborough MA 1752 $124,931.72
60013914 Drown ,Matthew 9414 South 1980 West South Jordan UT 84095 $121,907.17
60013918 Laberee Jr ,David D 3417 Se 3rd Street Corvallis OR 97333 $74,859.18
60013919 Miller I I I ,Earl M 11415 Geib Northeast Hartville OH 44632 $64,916.83
60013921 Gross ,Michael N 50 Beauchamp Road Red Lodge MT 59068 $114,867.18
60013922 Montagriff ,Kari L. 378 Handicap Ave. Pagosa Springs CO 81147 $94,637.71
60013923 Schroeder ,William R 8777-79 W. 63rd Pl Arvada CO 80004 $119,707.95
60013925 Rispoli ,Angelo 48 Tarlton Street Staten Island NY 10306 $107,900.00
60013926 Ambartsumov ,Rafael 1468 East 15th Street #10 Brooklyn NY 11226 $67,461.16
60013927 Miller ,Dianne 350 Skyview Drive Senoia GA 30276 $62,500.00
60013928 Alexander ,Louis A. 11200 Sw 60 Avenue Miami FL 33156 $188,787.30
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013909 Martin ,Deborah A 8.375 .250 8.125 .0400 8.085 09/01/2027
60013911 Kornahrens ,Katherine 8.125 .250 7.875 .0400 7.835 09/01/2027
60013912 Curnow ,Ernest 8.875 .250 8.625 .0400 8.585 09/01/2017
60013913 Cleary ,Nancy L. 9.000 .250 8.750 .0400 8.710 10/01/2027
60013914 Drown ,Matthew 7.375 .250 7.125 .0400 7.085 10/01/2027
60013918 Laberee Jr ,David D 8.375 .250 8.125 .0400 8.085 09/01/2027
60013919 Miller I I I ,Earl M 8.250 .250 8.000 .0400 7.960 09/01/2027
60013921 Gross ,Michael N 8.750 .250 8.500 .0400 8.460 09/01/2027
60013922 Montagriff ,Kari L. 8.625 .250 8.375 .0400 8.335 09/01/2027
60013923 Schroeder ,William R 8.625 .250 8.375 .0400 8.335 09/01/2027
60013925 Rispoli ,Angelo 8.625 .250 8.375 .0400 8.335 11/01/2027
60013926 Ambartsumov ,Rafael 8.750 .250 8.500 .0400 8.460 10/01/2027
60013927 Miller ,Dianne 8.250 .250 8.000 .0400 7.960 11/01/2027
60013928 Alexander ,Louis A. 8.875 .250 8.625 .0400 8.585 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013909 Martin ,Deborah A 261994 $644.17 11/01/1997 360
60013911 Kornahrens ,Katherine 262023 $986.04 11/01/1997 360
60013912 Curnow ,Ernest 262047 $713.36 11/01/1997 240
60013913 Cleary ,Nancy L. 262065 $1,005.78 11/01/1997 360
60013914 Drown ,Matthew 262070 $842.62 11/01/1997 360
60013918 Laberee Jr ,David D 262122 $570.05 11/01/1997 360
60013919 Miller I I I ,Earl M 262154 $488.32 11/01/1997 360
60013921 Gross ,Michael N 262192 $904.71 11/01/1997 360
60013922 Montagriff ,Kari L. 262209 $736.96 11/01/1997 360
60013923 Schroeder ,William R 262276 $932.19 2 11/01/1997 360
60013925 Rispoli ,Angelo 262332 $839.24 11/01/1997 360
60013926 Ambartsumov ,Rafael 262334 $531.03 1 11/01/1997 360
60013927 Miller ,Dianne 262382 $469.54 11/01/1997 360
60013928 Alexander ,Louis A. 262394 $1,503.77 11/01/1997 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>
60013909 Martin ,Deborah A $113,000.00 N
60013911 Kornahrens ,Katherine $166,000.00 N
60013912 Curnow ,Ernest $124,000.00 N
60013913 Cleary ,Nancy L. $180,000.00 N
60013914 Drown ,Matthew $198,000.00 N
60013918 Laberee Jr ,David D $116,000.00 N
60013919 Miller I I I ,Earl M $83,000.00 N
60013921 Gross ,Michael N $165,000.00 N
60013922 Montagriff ,Kari L. $124,750.00 N
60013923 Schroeder ,William R $141,000.00 N
60013925 Rispoli ,Angelo $134,900.00 N
60013926 Ambartsumov ,Rafael $75,000.00 N
60013927 Miller ,Dianne $78,200.00 N
60013928 Alexander ,Louis A. $236,250.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013931 Riray ,Symon S. 6615 Folklore Court San Jose CA 95120 $186,295.50
60013932 Missimer ,Richard S W276 S8910 Hilltop Lane Mukwonago WI 53149 $107,875.27
60013933 Bruner ,Curtis H 3530 Larkspur Drive Longmont CO 80503 $130,970.55
60013934 Barry ,James 6041 Cedar Glen Drive Cedar Hill MO 63016 $51,833.54
60013935 Wadsworth ,Lester 2605 Hansen Drive Carson City NV 89701 $85,446.86
60013936 Rice ,Andrea 725 35th Street Boulder CO 80303 $113,147.44
60013937 Al-awaji ,Dorothy A 19608 East Flora Avenue Aurora CO 80013 $122,927.38
60013939 Sokol ,John 6 Little John Lane Danbury CT 6811 $164,705.65
60013940 Orr ,John S. 257 Knotts Street Nipomo CA 93444 $69,881.41
60013941 Megerdichian ,Joseph 1229 West 168th Street Un Gardena CA 90247 $91,890.97
60013942 Megerdichian ,Joseph 1229 West 168th Street Un Gardena CA 90247 $91,890.97
60013943 Sleight Jr ,Robert P. 54 Fair Street Carmel NY 10512 $172,261.80
60013945 Berkowitz ,Jerald 25716 West Wordsworth Lan Stevenson Ranch CA 91381 $152,440.45
60013948 Zipay ,Elizabeth 1202 Sherman Avenue Point Pleasant NJ 8742 $81,849.91
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013931 Riray ,Symon S. 8.875 .250 8.625 .0400 8.585 10/01/2027
60013932 Missimer ,Richard S 8.750 .250 8.500 .0400 8.460 09/01/2027
60013933 Bruner ,Curtis H 8.500 .250 8.250 .0400 8.210 09/01/2027
60013934 Barry ,James 8.500 .250 8.250 .0400 8.210 09/01/2017
60013935 Wadsworth ,Lester 8.375 .250 8.125 .0400 8.085 10/01/2027
60013936 Rice ,Andrea 8.000 .250 7.750 .0400 7.710 09/01/2027
60013937 Al-awaji ,Dorothy A 8.625 .250 8.375 .0400 8.335 10/01/2027
60013939 Sokol ,John 8.625 .250 8.375 .0400 8.335 08/01/2027
60013940 Orr ,John S. 8.875 .250 8.625 .0400 8.585 08/01/2027
60013941 Megerdichian ,Joseph 8.625 .250 8.375 .0400 8.335 09/01/2027
60013942 Megerdichian ,Joseph 8.625 .250 8.375 .0400 8.335 09/01/2027
60013943 Sleight Jr ,Robert P. 7.875 .250 7.625 .0400 7.585 10/01/2027
60013945 Berkowitz ,Jerald 8.000 .250 7.750 .0400 7.710 08/01/2027
60013948 Zipay ,Elizabeth 8.500 .250 8.250 .0400 8.210 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013931 Riray ,Symon S. 262434 $1,483.08 11/01/1997 360
60013932 Missimer ,Richard S 262449 $849.64 11/01/1997 360
60013933 Bruner ,Curtis H 262459 $1,008.28 11/01/1997 360
60013934 Barry ,James 262480 $451.27 11/01/1997 240
60013935 Wadsworth ,Lester 262495 $649.86 1 11/01/1997 360
60013936 Rice ,Andrea 262496 $831.36 11/01/1997 360
60013937 Al-awaji ,Dorothy A 262533 $956.68 11/01/1997 360
60013939 Sokol ,John 262545 $1,283.35 11/01/1997 360
60013940 Orr ,John S. 262573 $556.95 11/01/1997 360
60013941 Megerdichian ,Joseph 262603 $715.57 11/01/1997 360
60013942 Megerdichian ,Joseph 262604 $715.57 11/01/1997 360
60013943 Sleight Jr ,Robert P. 262627 $1,250.74 11/01/1997 360
60013945 Berkowitz ,Jerald 262656 $1,120.83 11/01/1997 360
60013948 Zipay ,Elizabeth 262740 $630.51 11/01/1997 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>
60013931 Riray ,Symon S. $233,000.00 N
60013932 Missimer ,Richard S $135,000.00 N
60013933 Bruner ,Curtis H $163,920.00 N
60013934 Barry ,James $69,000.00 N
60013935 Wadsworth ,Lester $95,000.00 N
60013936 Rice ,Andrea $162,000.00 N
60013937 Al-awaji ,Dorothy A $160,000.00 N
60013939 Sokol ,John $210,000.00 N
60013940 Orr ,John S. $147,000.00 N
60013941 Megerdichian ,Joseph $138,000.00 N
60013942 Megerdichian ,Joseph $140,000.00 N
60013943 Sleight Jr ,Robert P. $225,000.00 N
60013945 Berkowitz ,Jerald $190,990.00 N
60013948 Zipay ,Elizabeth $120,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013949 Juarez ,Alfred D. 15208 Amso Street San Diego CA 92111 $131,044.52
60013950 Krawczyk ,Zbigniew 323 Starke Avenue East Meadow NY 11554 $128,166.11
60013951 Robles ,Greg S. 1981 Alissa Drive Hollister CA 95023 $149,599.54
60013952 Torres ,Marcial E 7090 W. 12th Court Hialeah FL 33014 $114,371.15
60013953 Vaclavik ,Raymond G 10022 South Country Drive Alvin TX 77511 $104,238.42
60013954 Powers ,Sherry 2610 12th Avenue South Denison IA 51442 $129,583.95
60013955 Holden ,James Wil 533 S Main Street Ukiah CA 95482 $63,922.17
60013956 Moreno ,Antonia 695-697 Banff Street San Jose CA 95116 $173,483.51
60013958 Bourgeois ,Frederick 83 Hildreth Street Lowell MA 1852 $89,793.47
60013960 VIVALDI ,Luis A 10006 N.w. 51st Terrace Miami FL 33178 $112,659.27
60013963 Bongiorno ,Malcolm F 4731 East Amberwood Drive Phoenix AZ 85044 $103,274.27
60013965 Schramm ,Kurt 669 Trailside Rd Golden CO 80401 $194,684.08
60013966 Meklin ,Anatoliy 1089 Pomeroy Avenue Santa Clara CA 95051 $135,563.50
60013968 Mcgriff ,Craig 6224 Olde Harwick Circle Oklahoma City OK 73162 $143,919.27
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013949 Juarez ,Alfred D. 8.625 .250 8.375 .0400 8.335 09/01/2027
60013950 Krawczyk ,Zbigniew 8.125 .250 7.875 .0400 7.835 10/01/2027
60013951 Robles ,Greg S. 8.250 .250 8.000 .0400 7.960 10/01/2027
60013952 Torres ,Marcial E 8.875 .250 8.625 .0400 8.585 09/01/2027
60013953 Vaclavik ,Raymond G 8.625 .250 8.375 .0400 8.335 10/01/2027
60013954 Powers ,Sherry 8.250 .250 8.000 .0400 7.960 09/01/2027
60013955 Holden ,James Wil 8.500 .250 8.250 .0400 8.210 09/01/2027
60013956 Moreno ,Antonia 8.000 .250 7.750 .0400 7.710 10/01/2027
60013958 Bourgeois ,Frederick 8.625 .250 8.375 .0400 8.335 09/01/2027
60013960 VIVALDI ,Luis A 8.375 .250 8.125 .0400 8.085 10/01/2027
60013963 Bongiorno ,Malcolm F 8.500 .250 8.250 .0400 8.210 09/01/2027
60013965 Schramm ,Kurt 8.375 .250 8.125 .0400 8.085 10/01/2017
60013966 Meklin ,Anatoliy 8.250 .250 8.000 .0400 7.960 10/01/2027
60013968 Mcgriff ,Craig 8.875 .250 8.625 .0400 8.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013949 Juarez ,Alfred D. 262757 $1,020.46 11/01/1997 360
60013950 Krawczyk ,Zbigniew 262784 $952.25 7 11/01/1997 360
60013951 Robles ,Greg S. 262790 $1,124.61 11/01/1997 360
60013952 Torres ,Marcial E 262796 $911.01 5 11/01/1997 360
60013953 Vaclavik ,Raymond G 262800 $811.24 7 11/01/1997 360
60013954 Powers ,Sherry 262821 $974.77 11/01/1997 360
60013955 Holden ,James Wil 262833 $492.11 11/01/1997 360
60013956 Moreno ,Antonia 262843 $1,273.82 11/01/1997 360
60013958 Bourgeois ,Frederick 262883 $699.23 7 11/01/1997 360
60013960 VIVALDI ,Luis A 262909 $857.37 11/01/1997 360
60013963 Bongiorno ,Malcolm F 262937 $795.06 2 11/01/1997 360
60013965 Schramm ,Kurt 263040 $1,676.86 11/01/1997 240
60013966 Meklin ,Anatoliy 263158 $1,019.09 11/01/1997 360
60013968 Mcgriff ,Craig 263190 $1,145.73 11/01/1997 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>
60013949 Juarez ,Alfred D. $164,000.00 N
60013950 Krawczyk ,Zbigniew $142,500.00 N
60013951 Robles ,Greg S. $230,300.00 N
60013952 Torres ,Marcial E $134,500.00 N
60013953 Vaclavik ,Raymond G $115,900.00 N
60013954 Powers ,Sherry $173,000.00 N
60013955 Holden ,James Wil $80,000.00 N
60013956 Moreno ,Antonia $217,000.00 N
60013958 Bourgeois ,Frederick $99,900.00 N
60013960 VIVALDI ,Luis A $142,000.00 N
60013963 Bongiorno ,Malcolm F $115,000.00 N
60013965 Schramm ,Kurt $266,600.00 N
60013966 Meklin ,Anatoliy $179,000.00 N
60013968 Mcgriff ,Craig $180,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013970 Long ,Kyle F. 7530 East 17th Avenue Denver CO 80220 $122,708.13
60013971 Wielkiewicz ,Helen 78 Bayview Avenue North Kingstown RI 2852 $67,120.35
60013972 Burns ,Richard 553 Long Island Avenue Medford NY 11763 $84,906.79
60013973 Farley, Jr. ,William P 39 Lincoln Avenue Woodbridge Twp. NJ 7067 $123,920.92
60013977 Straatman ,Lane M. 2887 West 600 South Young Ward UT 84321 $90,137.41
60013978 Steinman ,James F. 5340 North Ft. Yuma Trail Tucson AZ 85750 $139,834.09
60013979 Rothaus ,Paul 1319 Newton Street Key West FL 33040 $183,635.79
60013980 Liles ,Norman L. 1086 Cedar Court Creswell OR 97426 $95,234.14
60013981 Randazzo ,Gail D 556 North Las Casas Avenu Pacific Palisad CA 90272 $99,872.02
60013983 Pereira Jr ,Wantoir 968 South James Court Salt Lake City UT 84111 $50,316.79
60013984 Vennes ,Jo Anne 4908 Cnty Road 154 Glenwood Spring CO 81601 $74,953.39
60013985 Miller ,Wendy P 2522 North Robin Lane Mesa AZ 85213 $152,823.31
60013986 Mezzanotte, Jr,John J 3466 Bear River Drive Wheatland CA 95692 $131,822.27
60013987 Schwarz ,Edith M. 1600 Arlington Dr Crescent City CA 95531 $62,919.38
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013970 Long ,Kyle F. 8.750 .250 8.500 .0400 8.460 09/01/2027
60013971 Wielkiewicz ,Helen 8.625 .250 8.375 .0400 8.335 09/01/2027
60013972 Burns ,Richard 9.000 .250 8.750 .0400 8.710 10/01/2027
60013973 Farley, Jr. ,William P 8.250 .250 8.000 .0400 7.960 10/01/2027
60013977 Straatman ,Lane M. 8.375 .250 8.125 .0400 8.085 10/01/2027
60013978 Steinman ,James F. 8.625 .250 8.375 .0400 8.335 09/01/2027
60013979 Rothaus ,Paul 8.375 .250 8.125 .0400 8.085 10/01/2027
60013980 Liles ,Norman L. 8.750 .250 8.500 .0400 8.460 09/01/2027
60013981 Randazzo ,Gail D 8.250 .250 8.000 .0400 7.960 09/01/2027
60013983 Pereira Jr ,Wantoir 9.000 .250 8.750 .0400 8.710 09/01/2027
60013984 Vennes ,Jo Anne 8.375 .250 8.125 .0400 8.085 10/01/2027
60013985 Miller ,Wendy P 8.750 .250 8.500 .0400 8.460 09/01/2027
60013986 Mezzanotte, Jr,John J 8.000 .250 7.750 .0400 7.710 09/01/2027
60013987 Schwarz ,Edith M. 8.250 .250 8.000 .0400 7.960 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013970 Long ,Kyle F. 263210 $966.46 7 11/01/1997 360
60013971 Wielkiewicz ,Helen 263221 $522.68 11/01/1997 360
60013972 Burns ,Richard 263246 $683.93 11/01/1997 360
60013973 Farley, Jr. ,William P 263278 $931.58 11/01/1997 360
60013977 Straatman ,Lane M. 263337 $685.97 11/01/1997 360
60013978 Steinman ,James F. 263373 $1,088.91 11/01/1997 360
60013979 Rothaus ,Paul 263382 $1,396.63 11/01/1997 360
60013980 Liles ,Norman L. 263424 $750.51 12 11/01/1997 360
60013981 Randazzo ,Gail D 263436 $751.27 11/01/1997 360
60013983 Pereira Jr ,Wantoir 263482 $405.53 7 11/01/1997 360
60013984 Vennes ,Jo Anne 263500 $570.05 11/01/1997 360
60013985 Miller ,Wendy P 263518 $1,203.65 11/01/1997 360
60013986 Mezzanotte, Jr,John J 263522 $968.57 11/01/1997 360
60013987 Schwarz ,Edith M. 263580 $473.30 11/01/1997 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>
60013970 Long ,Kyle F. $136,500.00 N
60013971 Wielkiewicz ,Helen $84,000.00 N
60013972 Burns ,Richard $132,000.00 N
60013973 Farley, Jr. ,William P $180,000.00 N
60013977 Straatman ,Lane M. $129,000.00 N
60013978 Steinman ,James F. $210,000.00 N
60013979 Rothaus ,Paul $245,000.00 N
60013980 Liles ,Norman L. $106,000.00 N
60013981 Randazzo ,Gail D $500,000.00 N
60013983 Pereira Jr ,Wantoir $56,000.00 N
60013984 Vennes ,Jo Anne $130,000.00 N
60013985 Miller ,Wendy P $204,000.00 N
60013986 Mezzanotte, Jr,John J $165,000.00 N
60013987 Schwarz ,Edith M. $84,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60013989 Kessler ,Garry 8124 Waxhaw Creek Road Waxhaw NC 28173 $123,928.66
60013990 Corkins ,Jean W. 755 Crestview Drive Orange City FL 32763 $51,043.97
60013991 Bahar ,Nemetulla 8412 Snow White Drive El Cajon CA 92021 $84,580.05
60013993 Rutecki ,Michael 14520 Hickory Hill Court, Fort Myers FL 33912 $97,381.46
60013994 Bains ,Naranjan 2532 Robins Court Union City CA 94587 $183,885.64
60013996 Spencer ,Wayne A 1077 Kennebunk Cricle Henderson NV 89015 $103,207.28
60013998 Wehrwein ,Gary 18230 Teresa Macomb MI 48044 $99,826.13
60014000 Calderon ,Hector L. 21194 Laguna Road Apple Valley CA 92308 $78,663.63
60014001 Bates ,Nancy Ann 19596 Seagull Lane Huntington Beac CA 92648 $169,813.58
60014003 Deluca ,Anthony J 236 Cambridge Avenue Staten Island NY 10314 $177,772.20
60014004 Solek ,Van R 689 Belvidere Avenue Lopatcong NJ 8865 $93,800.00
60014005 Alley ,Malka Gre 74504 Nevada Circle Palm Desert CA 92260 $75,912.24
60014006 Danza ,Thomas M. 427 North Wendy Drive Newbury Park CA 91320 $152,813.96
60014007 Laureano ,Peter 187 West Cypress Lane Westbury NY 11590 $162,186.80
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60013989 Kessler ,Garry 8.750 .250 8.500 .0400 8.460 10/01/2027
60013990 Corkins ,Jean W. 9.000 .250 8.750 .0400 8.710 09/01/2027
60013991 Bahar ,Nemetulla 7.750 .250 7.500 .0400 7.460 09/01/2027
60013993 Rutecki ,Michael 8.500 .250 8.250 .0400 8.210 09/01/2027
60013994 Bains ,Naranjan 8.375 .250 8.125 .0400 8.085 10/01/2027
60013996 Spencer ,Wayne A 7.875 .250 7.625 .0400 7.585 09/01/2027
60013998 Wehrwein ,Gary 8.750 .250 8.500 .0400 8.460 09/01/2027
60014000 Calderon ,Hector L. 9.000 .250 8.750 .0400 8.710 09/01/2027
60014001 Bates ,Nancy Ann 9.000 .250 8.750 .0400 8.710 10/01/2027
60014003 Deluca ,Anthony J 8.250 .250 8.000 .0400 7.960 10/01/2027
60014004 Solek ,Van R 8.875 .250 8.625 .0400 8.585 11/01/2027
60014005 Alley ,Malka Gre 8.750 .250 8.500 .0400 8.460 09/01/2027
60014006 Danza ,Thomas M. 8.500 .250 8.250 .0400 8.210 09/01/2027
60014007 Laureano ,Peter 8.125 .250 7.875 .0400 7.835 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60013989 Kessler ,Garry 263647 $975.51 11/01/1997 360
60013990 Corkins ,Jean W. 263653 $411.16 11/01/1997 360
60013991 Bahar ,Nemetulla 263659 $606.80 11/01/1997 360
60013993 Rutecki ,Michael 263720 $749.69 11/01/1997 360
60013994 Bains ,Naranjan 263772 $1,398.53 11/01/1997 360
60013996 Spencer ,Wayne A 263825 $749.36 11/01/1997 360
60013998 Wehrwein ,Gary 263834 $786.70 11/01/1997 360
60014000 Calderon ,Hector L. 263878 $633.65 11/01/1997 360
60014001 Bates ,Nancy Ann 263881 $1,367.86 11/01/1997 360
60014003 Deluca ,Anthony J 263962 $1,337.26 11/01/1997 360
60014004 Solek ,Van R 263971 $746.32 11/01/1997 360
60014005 Alley ,Malka Gre 263982 $597.89 11/01/1997 360
60014006 Danza ,Thomas M. 263992 $1,176.44 11/01/1997 360
60014007 Laureano ,Peter 263999 $1,205.82 11/01/1997 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>
60013989 Kessler ,Garry $156,000.00 N
60013990 Corkins ,Jean W. $63,900.00 N
60013991 Bahar ,Nemetulla $121,000.00 N
60013993 Rutecki ,Michael $130,000.00 N
60013994 Bains ,Naranjan $234,000.00 N
60013996 Spencer ,Wayne A $129,205.00 N
60013998 Wehrwein ,Gary $193,188.00 N
60014000 Calderon ,Hector L. $105,000.00 N
60014001 Bates ,Nancy Ann $245,000.00 N
60014003 Deluca ,Anthony J $285,000.00 N
60014004 Solek ,Van R $134,000.00 N
60014005 Alley ,Malka Gre $95,000.00 N
60014006 Danza ,Thomas M. $195,000.00 N
60014007 Laureano ,Peter $203,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014008 Megerdichian ,Joseph 1229 West 168th Street Un Gardena CA 90247 $91,890.97
60014009 Mennillo ,Roger N. 994 Reservoir Avenue Cranston RI 2920 $123,860.45
60014010 Gonzales ,Silviano 4018 East 133rd Place Thornton CO 80241 $83,249.53
60014011 Megerdichian ,Joseph 1229 West 168th Street Un Gardena CA 90247 $91,890.97
60014012 Celi ,Mark E 434 Old Marlboro Road Concord MA 1742 $166,584.85
60014013 McKee ,John W. 3816 Remount Drive Las Vegas NV 89121 $81,900.29
60014014 Mckee ,John W 3917 Applecrest Street Las Vegas NV 89108 $75,408.20
60014015 Mckee ,John W. 264 Fairbrook Drive Henderson NV 89014 $116,861.36
60014016 Berman ,Tosh 2601 Waverly Drive Los Angeles CA 90039 $187,740.39
60014017 Snyder ,Charles 1027 S Clementine Street Oceanside CA 92054 $74,764.74
60014019 Geronimo ,Vincente 1422 Sunnycrest Circle San Jose CA 95122 $109,859.24
60014020 Coleman ,George B 126 Argonaut Avenue San Francisco CA 94134 $75,912.24
60014021 Sanders ,Neal 1756 Northwest Grant Circ Corvallis OR 97330 $72,859.40
60014022 Denzler ,John 7 East Surf Avenue Beach Haven NJ 8008 $137,516.65
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014008 Megerdichian ,Joseph 8.625 .250 8.375 .0400 8.335 09/01/2027
60014009 Mennillo ,Roger N. 8.875 .250 8.625 .0400 8.585 09/01/2027
60014010 Gonzales ,Silviano 8.500 .250 8.250 .0400 8.210 10/01/2027
60014011 Megerdichian ,Joseph 8.625 .250 8.375 .0400 8.335 09/01/2027
60014012 Celi ,Mark E 8.750 .250 8.500 .0400 8.460 08/01/2027
60014013 McKee ,John W. 8.500 .250 8.250 .0400 8.210 09/01/2027
60014014 Mckee ,John W 8.500 .250 8.250 .0400 8.210 09/01/2027
60014015 Mckee ,John W. 8.625 .250 8.375 .0400 8.335 09/01/2027
60014016 Berman ,Tosh 7.875 .250 7.625 .0400 7.585 10/01/2027
60014017 Snyder ,Charles 8.625 .250 8.375 .0400 8.335 09/01/2027
60014019 Geronimo ,Vincente 8.250 .250 8.000 .0400 7.960 09/01/2027
60014020 Coleman ,George B 8.750 .250 8.500 .0400 8.460 09/01/2027
60014021 Sanders ,Neal 8.250 .250 8.000 .0400 7.960 09/01/2027
60014022 Denzler ,John 8.500 .250 8.250 .0400 8.210 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014008 Megerdichian ,Joseph 264001 $715.57 11/01/1997 360
60014009 Mennillo ,Roger N. 264006 $986.60 11/01/1997 360
60014010 Gonzales ,Silviano 264014 $640.51 11/01/1997 360
60014011 Megerdichian ,Joseph 264016 $715.57 11/01/1997 360
60014012 Celi ,Mark E 264017 $1,312.81 11/01/1997 360
60014013 McKee ,John W. 264095 $630.51 11/01/1997 360
60014014 Mckee ,John W 264099 $580.53 11/01/1997 360
60014015 Mckee ,John W. 264101 $910.01 2 11/01/1997 360
60014016 Berman ,Tosh 264102 $1,363.13 11/01/1997 360
60014017 Snyder ,Charles 264103 $583.35 11/01/1997 360
60014019 Geronimo ,Vincente 264149 $826.39 11/01/1997 360
60014020 Coleman ,George B 264158 $597.89 11/01/1997 360
60014021 Sanders ,Neal 264180 $548.42 11/01/1997 360
60014022 Denzler ,John 264206 $1,058.02 11/01/1997 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>
60014008 Megerdichian ,Joseph $138,000.00 N
60014009 Mennillo ,Roger N. $155,000.00 N
60014010 Gonzales ,Silviano $141,400.00 N
60014011 Megerdichian ,Joseph $138,000.00 N
60014012 Celi ,Mark E $222,500.00 N
60014013 McKee ,John W. $115,000.00 N
60014014 Mckee ,John W $102,000.00 N
60014015 Mckee ,John W. $130,000.00 N
60014016 Berman ,Tosh $235,000.00 N
60014017 Snyder ,Charles $178,000.00 N
60014019 Geronimo ,Vincente $197,500.00 N
60014020 Coleman ,George B $95,000.00 N
60014021 Sanders ,Neal $123,000.00 N
60014022 Denzler ,John $172,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014023 Pyle ,K Roger 17221 Angelfish Lane Summerland Key FL 33042 $159,910.30
60014024 Crowe ,William R 115 D Maunalua Avenue #4 Honolulu HI 96825 $151,916.97
60014025 CRUZZ ,Jesus R 5636 Pierce Street Omaha NE 68106 $92,548.08
60014026 Nelson ,Donald L. 309 E . 17th Avenue & 168 Eugene OR 97402 $149,745.34
60014028 Derkson ,John H 3831 Delaney Road Se Salem OR 97301 $160,395.01
60014029 Fanuel ,Douglas 3-15 Lyons Avenue Fair Lawn NJ 7410 $104,875.57
60014030 Foster ,Steven M. 3431 Terrace Way Bakersfield CA 93309 $53,105.07
60014031 Bryan ,Darren 2317-2318 Beverly Way Las Vegas NV 89104 $76,413.90
60014033 Freedman ,Alan D 4661 N Avenida Ronca Tucson AZ 85750 $134,920.29
60014034 Romano ,James 60 Herman Thau Road Clinton Townshi NJ 8801 $203,879.55
60014035 Larson ,Bryon 671 North 1720 West Pleasant Grove UT 84062 $128,847.13
60014037 Fender ,Don R 1046 Dominion Katy TX 77450 $101,585.55
60014039 Ayus ,Raymundo 1500 Ocean Bay Drive #h- Key Largo FL 33037 $59,934.21
60014040 Holman ,Ron & Lin 22632 Seeley Drive Crestline CA 92325 $64,757.61
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014023 Pyle ,K Roger 8.875 .250 8.625 .0400 8.585 10/01/2027
60014024 Crowe ,William R 9.000 .250 8.750 .0400 8.710 10/01/2027
60014025 CRUZZ ,Jesus R 8.875 .250 8.625 .0400 8.585 10/01/2027
60014026 Nelson ,Donald L. 8.000 .250 7.750 .0400 7.710 10/01/2017
60014028 Derkson ,John H 8.125 .250 7.875 .0400 7.835 10/01/2027
60014029 Fanuel ,Douglas 8.625 .250 8.375 .0400 8.335 09/01/2027
60014030 Foster ,Steven M. 8.625 .250 8.375 .0400 8.335 09/01/2027
60014031 Bryan ,Darren 8.875 .250 8.625 .0400 8.585 09/01/2027
60014033 Freedman ,Alan D 8.625 .250 8.375 .0400 8.335 10/01/2027
60014034 Romano ,James 8.625 .250 8.375 .0400 8.335 10/01/2027
60014035 Larson ,Bryon 8.625 .250 8.375 .0400 8.335 09/01/2027
60014037 Fender ,Don R 8.875 .250 8.625 .0400 8.585 09/01/2027
60014039 Ayus ,Raymundo 9.000 .250 8.750 .0400 8.710 09/01/2027
60014040 Holman ,Ron & Lin 8.125 .250 7.875 .0400 7.835 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014023 Pyle ,K Roger 264208 $1,273.03 11/01/1997 360
60014024 Crowe ,William R 264209 $1,223.03 11/01/1997 360
60014025 CRUZZ ,Jesus R 264221 $736.77 7 11/01/1997 360
60014026 Nelson ,Donald L. 264227 $1,254.66 11/01/1997 240
60014028 Derkson ,John H 264276 $1,191.71 11/01/1997 360
60014029 Fanuel ,Douglas 264284 $816.68 11/01/1997 360
60014030 Foster ,Steven M. 264330 $413.79 1 11/01/1997 360
60014031 Bryan ,Darren 264351 $608.67 2 11/01/1997 360
60014033 Freedman ,Alan D 264389 $1,050.02 11/01/1997 360
60014034 Romano ,James 264403 $1,586.70 11/01/1997 360
60014035 Larson ,Bryon 264406 $1,003.35 11/01/1997 360
60014037 Fender ,Don R 264485 $809.17 5 11/01/1997 360
60014039 Ayus ,Raymundo 264491 $482.77 11/01/1997 360
60014040 Holman ,Ron & Lin 264501 $481.14 11/01/1997 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>
60014023 Pyle ,K Roger $240,000.00 N
60014024 Crowe ,William R $190,000.00 N
60014025 CRUZZ ,Jesus R $102,950.00 N
60014026 Nelson ,Donald L. $235,000.00 N
60014028 Derkson ,John H $238,500.00 N
60014029 Fanuel ,Douglas $140,000.00 N
60014030 Foster ,Steven M. $62,000.00 N
60014031 Bryan ,Darren $90,000.00 N
60014033 Freedman ,Alan D $180,000.00 N
60014034 Romano ,James $255,000.00 N
60014035 Larson ,Bryon $172,000.00 N
60014037 Fender ,Don R $113,000.00 N
60014039 Ayus ,Raymundo $90,000.00 N
60014040 Holman ,Ron & Lin $81,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014041 Schiffer ,Dwaine R. 1551 Miracle Lane Medford OR 97504 $64,798.37
60014042 Dac ,Binh 3255 Grove Meadows Cove Lawrenceville GA 30244 $103,377.34
60014043 McGowan, Jr. ,Edward M. 111-29 205th Street Jamaica NY 11412 $89,000.00
60014044 Haq ,Mohammad 9162 Nw 112 Terrace Hialeah FL 33016 $88,397.79
60014045 Mc William ,George 3 Barberry Heights Gloucester MA 1930 $107,847.05
60014046 Daleo ,Gloria B. 4150 Flamingo Crest Drive Las Vegas NV 89121 $68,164.86
60014047 Malone ,David T. 213 CO Road 463 Grand Lake CO 80447 $96,900.00
60014048 San ,Joseph Y 6273 Potrero Dr Newark CA 94560 $179,882.26
60014049 Prado ,Jorge A 1800 Edmond Street, Unit Las Vegas NV 89102 $62,929.10
60014054 Bucciero ,Jeffrey 119 Cooper Road Fishkill NY 12524 $108,617.78
60014058 Dejea ,Rebecca J 23566 Shadow Drive Auburn CA 95602 $99,807.37
60014059 Moreno ,Fernando 1205 80th Street North Bergen NJ 7047 $52,468.20
60014060 Hubbs ,Jack V 46 S Highway 19 New Florence MO 63363 $124,855.63
60014062 Vita ,Diane L 74 Argyle Drive Shirley NY 11967 $53,131.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014041 Schiffer ,Dwaine R. 8.750 .250 8.500 .0400 8.460 09/01/2017
60014042 Dac ,Binh 8.625 .250 8.375 .0400 8.335 09/01/2027
60014043 McGowan, Jr. ,Edward M. 8.750 .250 8.500 .0400 8.460 11/01/2027
60014044 Haq ,Mohammad 8.750 .250 8.500 .0400 8.460 09/01/2027
60014045 Mc William ,George 7.750 .250 7.500 .0400 7.460 09/01/2027
60014046 Daleo ,Gloria B. 8.375 .250 8.125 .0400 8.085 09/01/2027
60014047 Malone ,David T. 8.375 .250 8.125 .0400 8.085 11/01/2027
60014048 San ,Joseph Y 8.125 .250 7.875 .0400 7.835 10/01/2027
60014049 Prado ,Jorge A 8.875 .250 8.625 .0400 8.585 09/01/2027
60014054 Bucciero ,Jeffrey 8.500 .250 8.250 .0400 8.210 10/01/2027
60014058 Dejea ,Rebecca J 8.250 .250 8.000 .0400 7.960 09/01/2027
60014059 Moreno ,Fernando 8.500 .250 8.250 .0400 8.210 10/01/2027
60014060 Hubbs ,Jack V 8.750 .250 8.500 .0400 8.460 10/01/2027
60014062 Vita ,Diane L 8.250 .250 8.000 .0400 7.960 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014041 Schiffer ,Dwaine R. 264548 $574.41 11/01/1997 240
60014042 Dac ,Binh 264550 $805.02 11/01/1997 360
60014043 McGowan, Jr. ,Edward M. 264553 $700.17 11/01/1997 360
60014044 Haq ,Mohammad 264559 $696.23 11/01/1997 360
60014045 Mc William ,George 264573 $773.73 11/01/1997 360
60014046 Daleo ,Gloria B. 264581 $518.75 11/01/1997 360
60014047 Malone ,David T. 264589 $736.51 11/01/1997 360
60014048 San ,Joseph Y 264638 $1,336.49 11/01/1997 360
60014049 Prado ,Jorge A 264639 $501.26 2 11/01/1997 360
60014054 Bucciero ,Jeffrey 264712 $836.19 11/01/1997 360
60014058 Dejea ,Rebecca J 264772 $751.27 11/01/1997 360
60014059 Moreno ,Fernando 264777 $403.68 11/01/1997 360
60014060 Hubbs ,Jack V 264786 $983.38 11/01/1997 360
60014062 Vita ,Diane L 264804 $399.67 11/01/1997 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>
60014041 Schiffer ,Dwaine R. $103,000.00 N
60014042 Dac ,Binh $138,000.00 N
60014043 McGowan, Jr. ,Edward M. $125,000.00 N
60014044 Haq ,Mohammad $118,000.00 N
60014045 Mc William ,George $158,000.00 N
60014046 Daleo ,Gloria B. $91,000.00 N
60014047 Malone ,David T. $139,900.00 N
60014048 San ,Joseph Y $240,000.00 N
60014049 Prado ,Jorge A $70,000.00 N
60014054 Bucciero ,Jeffrey $145,000.00 N
60014058 Dejea ,Rebecca J $325,000.00 N
60014059 Moreno ,Fernando $70,000.00 N
60014060 Hubbs ,Jack V $195,000.00 N
60014062 Vita ,Diane L $66,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014063 Hoskins ,Ellen 76 Maple Ave Union NJ 7088 $56,188.32
60014064 Marjenka ,Theodore 1211 West Elsie Street Appleton WI 54914 $57,466.91
60014065 Pahler ,Thomas J. 1039 Sandpiper Lane Santa Barbara CA 93110 $94,629.64
60014066 Phan ,Hoa 6533 Santiage Court Sun City Center FL 33573 $129,841.93
60014067 Smith ,Kenneth 13226 Sw Yarrow Way Tigard OR 97223 $166,014.56
60014068 Horne ,Debbi M 60 South 1250 West Clearfield UT 84015 $96,732.25
60014069 Kessler ,William H 118 Fish Hatchery Lane Enterprise OR 97828 $52,928.63
60014070 Ali ,Tamin K. 1536 Windsor Lane Fullerton CA 92831 $104,858.63
60014071 Soloschenko ,Alexander 1 Laurel Street San Carlos CA 94070 $127,318.77
60014076 Houston ,Robert A. 25761 Norval Lane N W Poulsbo WA 98370 $89,878.82
60014077 Sheppard ,Wendy 18 Mallard Lane Newington CT 6111 $84,852.21
60014078 Rowe ,Joanne C 4598 Middleburg Road Union Bridge MD 21791 $137,832.19
60014079 Jones ,Andrew N 4 Tradd St Charleston SC 29401 $171,398.75
60014080 Gallagher ,Paul F. 25096 Sanoria Street Laguna Niguel CA 92677 $188,770.19
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014063 Hoskins ,Ellen 9.000 .250 8.750 .0400 8.710 10/01/2027
60014064 Marjenka ,Theodore 8.750 .250 8.500 .0400 8.460 10/01/2027
60014065 Pahler ,Thomas J. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014066 Phan ,Hoa 8.500 .250 8.250 .0400 8.210 09/01/2027
60014067 Smith ,Kenneth 7.750 .250 7.500 .0400 7.460 09/01/2027
60014068 Horne ,Debbi M 8.500 .250 8.250 .0400 8.210 09/01/2027
60014069 Kessler ,William H 8.000 .250 7.750 .0400 7.710 10/01/2027
60014070 Ali ,Tamin K. 8.000 .250 7.750 .0400 7.710 09/01/2027
60014071 Soloschenko ,Alexander 8.250 .250 8.000 .0400 7.960 10/01/2027
60014076 Houston ,Robert A. 8.000 .250 7.750 .0400 7.710 09/01/2027
60014077 Sheppard ,Wendy 8.750 .250 8.500 .0400 8.460 09/01/2027
60014078 Rowe ,Joanne C 8.500 .250 8.250 .0400 8.210 09/01/2027
60014079 Jones ,Andrew N 8.625 .250 8.375 .0400 8.335 10/01/2027
60014080 Gallagher ,Paul F. 8.500 .250 8.250 .0400 8.210 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014063 Hoskins ,Ellen 264844 $452.60 11/01/1997 360
60014064 Marjenka ,Theodore 264897 $452.36 11/01/1997 360
60014065 Pahler ,Thomas J. 264907 $728.06 11/01/1997 360
60014066 Phan ,Hoa 264927 $999.59 11/01/1997 360
60014067 Smith ,Kenneth 264950 $1,191.04 15 11/01/1997 360
60014068 Horne ,Debbi M 264956 $744.69 11/01/1997 360
60014069 Kessler ,William H 264959 $388.90 11/01/1997 360
60014070 Ali ,Tamin K. 264965 $770.45 11/01/1997 360
60014071 Soloschenko ,Alexander 265019 $957.11 11/01/1997 360
60014076 Houston ,Robert A. 265061 $660.39 11/01/1997 360
60014077 Sheppard ,Wendy 265072 $668.70 11/01/1997 360
60014078 Rowe ,Joanne C 265074 $1,061.11 11/01/1997 360
60014079 Jones ,Andrew N 265079 $1,333.91 11/01/1997 360
60014080 Gallagher ,Paul F. 265082 $1,453.25 2 11/01/1997 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>
60014063 Hoskins ,Ellen $75,000.00 N
60014064 Marjenka ,Theodore $80,000.00 N
60014065 Pahler ,Thomas J. $126,250.00 N
60014066 Phan ,Hoa $163,000.00 N
60014067 Smith ,Kenneth $175,000.00 N
60014068 Horne ,Debbi M $129,180.00 N
60014069 Kessler ,William H $140,000.00 N
60014070 Ali ,Tamin K. $140,000.00 N
60014071 Soloschenko ,Alexander $196,000.00 N
60014076 Houston ,Robert A. $140,000.00 N
60014077 Sheppard ,Wendy $130,000.00 N
60014078 Rowe ,Joanne C $197,000.00 N
60014079 Jones ,Andrew N $245,000.00 N
60014080 Gallagher ,Paul F. $210,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014081 Best ,Russell J 531 Moses Street Carson City NV 89703 $129,925.21
60014082 Berney ,Joseph C. 239 Cherry Court Cottage Grove OR 97424 $86,053.04
60014083 Heinritz ,Wolfgang 852 Golf Club Circle Pleasant Hill CA 94523 $214,256.14
60014084 Kuhn ,Cindy Kay 15004 Keller Lake Drive Burnsville MN 55306 $169,793.31
60014086 Liptak ,Christine 66 Laventhal Avenue Irvington NJ 7111 $84,906.79
60014087 Borten ,Henry 141-20 71st Road Kew Gardens NY 11367 $101,193.23
60014088 Figueroa ,Bernardit 2710 W 60th Street Hialeah FL 33016 $50,371.00
60014089 Rosario, Sr. ,David 1668 Dogwood Street Merrick NY 11566 $104,678.98
60014090 Parris ,David 115-30 175th Street Albans NY 11412 $129,357.99
60014091 Blakenship ,Melissa D 18 Duchess Court Baltimore MD 21237 $66,327.19
60014092 Powell, Jr. ,William R 19 George Street Sayville NY 11782 $101,938.20
60014093 Sand ,Paul M. 8533 West Rue De Lamour Peoria AZ 85381 $115,700.00
60014094 Wernik ,Morton R. 1901 Walnut Street, Apt 1 Philadelphia PA 19103 $99,826.10
60014095 Giddings ,Gregory 1931 Port Nelson Place Newport Beach CA 92660 $213,845.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014081 Best ,Russell J 8.750 .250 8.500 .0400 8.460 10/01/2027
60014082 Berney ,Joseph C. 8.875 .250 8.625 .0400 8.585 09/01/2027
60014083 Heinritz ,Wolfgang 8.000 .250 7.750 .0400 7.710 10/01/2027
60014084 Kuhn ,Cindy Kay 8.500 .250 8.250 .0400 8.210 09/01/2027
60014086 Liptak ,Christine 9.000 .250 8.750 .0400 8.710 09/01/2027
60014087 Borten ,Henry 8.875 .250 8.625 .0400 8.585 10/01/2027
60014088 Figueroa ,Bernardit 8.750 .250 8.500 .0400 8.460 10/01/2027
60014089 Rosario, Sr. ,David 8.750 .250 8.500 .0400 8.460 09/01/2027
60014090 Parris ,David 9.000 .250 8.750 .0400 8.710 09/01/2027
60014091 Blakenship ,Melissa D 9.000 .250 8.750 .0400 8.710 09/01/2027
60014092 Powell, Jr. ,William R 8.500 .250 8.250 .0400 8.210 10/01/2027
60014093 Sand ,Paul M. 8.250 .250 8.000 .0400 7.960 11/01/2027
60014094 Wernik ,Morton R. 8.750 .250 8.500 .0400 8.460 09/01/2027
60014095 Giddings ,Gregory 7.625 .250 7.375 .0400 7.335 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014081 Best ,Russell J 265135 $1,022.71 11/01/1997 360
60014082 Berney ,Joseph C. 265142 $685.45 11/01/1997 360
60014083 Heinritz ,Wolfgang 265143 $1,573.19 11/01/1997 360
60014084 Kuhn ,Cindy Kay 265151 $1,307.15 11/01/1997 360
60014086 Liptak ,Christine 265180 $683.93 11/01/1997 360
60014087 Borten ,Henry 265194 $805.60 11/01/1997 360
60014088 Figueroa ,Bernardit 265213 $396.50 11/01/1997 360
60014089 Rosario, Sr. ,David 265214 $824.46 11/01/1997 360
60014090 Parris ,David 265219 $1,041.99 11/01/1997 360
60014091 Blakenship ,Melissa D 265221 $534.27 11/01/1997 360
60014092 Powell, Jr. ,William R 265222 $784.30 11/01/1997 360
60014093 Sand ,Paul M. 265225 $869.22 12 11/01/1997 360
60014094 Wernik ,Morton R. 265229 $786.71 11/01/1997 360
60014095 Giddings ,Gregory 265234 $1,514.68 11/01/1997 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>
60014081 Best ,Russell J $198,500.00 N
60014082 Berney ,Joseph C. $114,900.00 N
60014083 Heinritz ,Wolfgang $316,000.00 N
60014084 Kuhn ,Cindy Kay $212,500.00 N
60014086 Liptak ,Christine $125,000.00 N
60014087 Borten ,Henry $135,000.00 N
60014088 Figueroa ,Bernardit $63,000.00 N
60014089 Rosario, Sr. ,David $131,000.00 N
60014090 Parris ,David $185,000.00 N
60014091 Blakenship ,Melissa D $83,000.00 N
60014092 Powell, Jr. ,William R $131,000.00 N
60014093 Sand ,Paul M. $128,614.00 N
60014094 Wernik ,Morton R. $195,000.00 N
60014095 Giddings ,Gregory $697,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014096 Ogata ,Thomas S. 2121 West 178th Street Torrance CA 90504 $132,434.58
60014097 Al-hethlin ,Naif K. 2385 S W Timberline Drive Portland OR 97225 $141,618.48
60014098 Berry ,David B 458 Quaddick Road North Grosvenor CT 6255 $95,780.37
60014100 Prodromidis ,Peter 19 Lantern Lane Worcester MA 1609 $179,896.44
60014103 Wessel ,Harold E 1281conejo Place San Bernardino CA 92404 $71,903.06
60014104 Hernandez ,David 675 East Clayton Avenue Fresno CA 93725 $135,830.35
60014106 Stallones ,Lorann 4112 Green Ridge Drive Laporte CO 80535 $122,796.92
60014108 Rupp ,Renee 851 South Krameria Street Denver CO 80224 $112,000.00
60014109 Johnson ,Timothy T 116 W. Exchange Street Mazomanie WI 53560 $83,869.15
60014110 Maher ,Steven J. 393 Cedarhurst Street Islip Terrace NY 11752 $117,000.00
60014111 Grant ,Susan 52-2720 Keokea Beach Road Hawi HI 96719 $97,000.00
60014112 Ghiorghies ,Victoria 16 Chevy Drive Centereach NY 11720 $125,250.00
60014113 Fletcher ,John Stew 862 & 864 West Hamilton A San Pedro Area CA 90731 $129,517.36
60014114 Cocchiarelli ,Stephanie 8 Speaker Street Commack NY 11725 $114,819.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014096 Ogata ,Thomas S. 8.375 .250 8.125 .0400 8.085 09/01/2027
60014097 Al-hethlin ,Naif K. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014098 Berry ,David B 8.375 .250 8.125 .0400 8.085 10/01/2027
60014100 Prodromidis ,Peter 8.750 .250 8.500 .0400 8.460 10/01/2027
60014103 Wessel ,Harold E 8.000 .250 7.750 .0400 7.710 09/01/2027
60014104 Hernandez ,David 8.375 .250 8.125 .0400 8.085 09/01/2027
60014106 Stallones ,Lorann 9.000 .250 8.750 .0400 8.710 09/01/2027
60014108 Rupp ,Renee 8.500 .250 8.250 .0400 8.210 11/01/2027
60014109 Johnson ,Timothy T 8.500 .250 8.250 .0400 8.210 10/01/2027
60014110 Maher ,Steven J. 8.750 .250 8.500 .0400 8.460 11/01/2027
60014111 Grant ,Susan 8.250 .250 8.000 .0400 7.960 11/01/2027
60014112 Ghiorghies ,Victoria 8.750 .250 8.500 .0400 8.460 11/01/2027
60014113 Fletcher ,John Stew 8.250 .250 8.000 .0400 7.960 10/01/2027
60014114 Cocchiarelli ,Stephanie 8.625 .250 8.375 .0400 8.335 10/01/2017
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014096 Ogata ,Thomas S. 265261 $1,007.86 12 11/01/1997 360
60014097 Al-hethlin ,Naif K. 265292 $1,114.75 11/01/1997 360
60014098 Berry ,David B 265314 $728.91 11/01/1997 360
60014100 Prodromidis ,Peter 265320 $1,416.06 11/01/1997 360
60014103 Wessel ,Harold E 265327 $528.31 11/01/1997 360
60014104 Hernandez ,David 265343 $1,033.70 11/01/1997 360
60014106 Stallones ,Lorann 265412 $989.69 11/01/1997 360
60014108 Rupp ,Renee 265422 $861.19 11/01/1997 360
60014109 Johnson ,Timothy T 265423 $645.28 11/01/1997 360
60014110 Maher ,Steven J. 265431 $920.44 11/01/1997 360
60014111 Grant ,Susan 265437 $728.73 11/01/1997 360
60014112 Ghiorghies ,Victoria 265440 $985.34 11/01/1997 360
60014113 Fletcher ,John Stew 265450 $973.64 11/01/1997 360
60014114 Cocchiarelli ,Stephanie 265466 $1,007.11 11/01/1997 240
<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>
60014096 Ogata ,Thomas S. $156,000.00 N
60014097 Al-hethlin ,Naif K. $218,000.00 N
60014098 Berry ,David B $119,900.00 N
60014100 Prodromidis ,Peter $225,000.00 N
60014103 Wessel ,Harold E $90,000.00 N
60014104 Hernandez ,David $170,000.00 N
60014106 Stallones ,Lorann $164,000.00 N
60014108 Rupp ,Renee $140,000.00 N
60014109 Johnson ,Timothy T $104,900.00 N
60014110 Maher ,Steven J. $156,000.00 N
60014111 Grant ,Susan $167,000.00 N
60014112 Ghiorghies ,Victoria $167,000.00 N
60014113 Fletcher ,John Stew $162,000.00 N
60014114 Cocchiarelli ,Stephanie $165,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014115 Rogers ,Ralph A. 3419 North Lake Trail Doraville GA 30340 $81,942.12
60014116 Shikenjanski ,Christine 83 Spring Road Rio Rancho NM 87124 $105,311.56
60014117 Tsai ,Lily J 7 Festivo Irvine CA 92606 $209,731.26
60014118 Gifford ,Barry K. 27515 East 152nd Avenue Brighton CO 80601 $180,000.00
60014119 Henson Sr. ,Robert D. 217-g Elbridge Avenue Cloverdale CA 95425 $76,297.12
60014120 Reyes ,Armando L 11243 Muller Street Downey CA 90241 $112,294.09
60014122 Tongson ,Teresa 45 River Drive South Unit Jersey City NJ 7302 $99,936.23
60014123 Strauser ,Sandra M. 1714 Hunters Bluff Drive North Las Vegas NV 89030 $94,881.49
60014124 Seehof ,John E. 88 Tryconnell Avenue Massapequa Park NY 11762 $111,873.96
60014125 Brough ,Grant A. 1234 N Ash Dr Layton UT 84040 $104,881.83
60014129 Lindberg ,Kevin L 450 Hunt Riverway Suwanee GA 30174 $115,459.43
60014131 Constant ,Steven J. 801 Mago Vista Road Arnold MD 21012 $101,942.82
60014133 Darvey ,Daniel 56 Obal Avenue Elmwood Park NJ 7407 $170,812.50
60014134 Elwood ,Curtis W. 119 North 2nd Street Hayden CO 81639 $70,010.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014115 Rogers ,Ralph A. 7.750 .250 7.500 .0400 7.460 10/01/2027
60014116 Shikenjanski ,Christine 8.125 .250 7.875 .0400 7.835 09/01/2027
60014117 Tsai ,Lily J 8.250 .250 8.000 .0400 7.960 10/01/2027
60014118 Gifford ,Barry K. 8.250 .250 8.000 .0400 7.960 11/01/2027
60014119 Henson Sr. ,Robert D. 8.000 .250 7.750 .0400 7.710 09/01/2027
60014120 Reyes ,Armando L 8.500 .250 8.250 .0400 8.210 09/01/2027
60014122 Tongson ,Teresa 8.250 .250 8.000 .0400 7.960 10/01/2027
60014123 Strauser ,Sandra M. 8.375 .250 8.125 .0400 8.085 09/01/2027
60014124 Seehof ,John E. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014125 Brough ,Grant A. 8.875 .250 8.625 .0400 8.585 09/01/2027
60014129 Lindberg ,Kevin L 8.500 .250 8.250 .0400 8.210 09/01/2027
60014131 Constant ,Steven J. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014133 Darvey ,Daniel 9.000 .250 8.750 .0400 8.710 09/01/2027
60014134 Elwood ,Curtis W. 8.875 .250 8.625 .0400 8.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014115 Rogers ,Ralph A. 265503 $587.46 11/01/1997 360
60014116 Shikenjanski ,Christine 265509 $782.97 12 11/01/1997 360
60014117 Tsai ,Lily J 265574 $1,577.66 11/01/1997 360
60014118 Gifford ,Barry K. 265579 $1,352.28 11/01/1997 360
60014119 Henson Sr. ,Robert D. 265634 $560.60 12 11/01/1997 360
60014120 Reyes ,Armando L 265673 $865.03 11/01/1997 360
60014122 Tongson ,Teresa 265711 $751.27 11/01/1997 360
60014123 Strauser ,Sandra M. 265719 $722.07 11/01/1997 360
60014124 Seehof ,John E. 265733 $891.12 11/01/1997 360
60014125 Brough ,Grant A. 265745 $835.43 11/01/1997 360
60014129 Lindberg ,Kevin L 265767 $888.87 11/01/1997 360
60014131 Constant ,Steven J. 265775 $811.56 11/01/1997 360
60014133 Darvey ,Daniel 265800 $1,375.90 2 11/01/1997 360
60014134 Elwood ,Curtis W. 265803 $557.35 11/01/1997 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>
60014115 Rogers ,Ralph A. $118,000.00 N
60014116 Shikenjanski ,Christine $111,000.00 N
60014117 Tsai ,Lily J $327,900.00 N
60014118 Gifford ,Barry K. $325,000.00 N
60014119 Henson Sr. ,Robert D. $85,000.00 N
60014120 Reyes ,Armando L $150,000.00 N
60014122 Tongson ,Teresa $125,000.00 N
60014123 Strauser ,Sandra M. $130,900.00 N
60014124 Seehof ,John E. $140,000.00 N
60014125 Brough ,Grant A. $132,000.00 N
60014129 Lindberg ,Kevin L $144,500.00 N
60014131 Constant ,Steven J. $127,500.00 N
60014133 Darvey ,Daniel $180,000.00 N
60014134 Elwood ,Curtis W. $87,600.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014135 Gale ,Susan 4201 Collins Ave #1902 Miami Beach FL 33139 $187,253.85
60014136 Schneider ,Carl 630 6th Street Berthoud CO 80513 $119,917.42
60014137 Thorlaksson ,Trausti 2587 Hudson Avenue Merritt Island FL 32952 $95,025.74
60014139 Bigham ,Tony L. 27714 178th Place Southea Monroe WA 98272 $189,878.84
60014140 Meyer ,William S 445 Spruce Street Fernley NV 89408 $60,919.93
60014141 Winchester ,Stanley E 11085 S W 78th Avenue Tigard OR 97223 $121,455.90
60014142 Langwell ,Kay L. 260 W. Branch Street Arroyo Grande CA 93420 $96,738.27
60014143 O Neal ,Walter 25712 West Wordworth Lane Stevenson Ranch CA 91381 $175,042.32
60014144 Prakelt ,Hans J. 519 Silver Drive Vacaville CA 95687 $85,000.00
60014145 Franks ,Saundra S 26950 Patterson Street Perris CA 92570 $122,339.19
60014146 Redding ,Charles A 15892 Frenchtown Road Brownsville CA 95919 $121,782.37
60014147 Reifsneider ,David J. 209 Webster Avenue Hulmeville PA 19047 $118,746.37
60014148 Smith ,Matthew 2816 South Adams Street Denver CO 80210 $103,443.47
60014149 Armengol ,Hilda C. 5253 N.w. 113 Avenue Miami FL 33178 $117,560.52
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014135 Gale ,Susan 8.125 .250 7.875 .0400 7.835 09/01/2027
60014136 Schneider ,Carl 7.875 .250 7.625 .0400 7.585 10/01/2027
60014137 Thorlaksson ,Trausti 8.500 .250 8.250 .0400 8.210 09/01/2027
60014139 Bigham ,Tony L. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014140 Meyer ,William S 8.125 .250 7.875 .0400 7.835 09/01/2027
60014141 Winchester ,Stanley E 8.625 .250 8.375 .0400 8.335 09/01/2027
60014142 Langwell ,Kay L. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014143 O Neal ,Walter 8.625 .250 8.375 .0400 8.335 09/01/2027
60014144 Prakelt ,Hans J. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014145 Franks ,Saundra S 8.125 .250 7.875 .0400 7.835 10/01/2027
60014146 Redding ,Charles A 8.625 .250 8.375 .0400 8.335 09/01/2027
60014147 Reifsneider ,David J. 7.750 .250 7.500 .0400 7.460 09/01/2027
60014148 Smith ,Matthew 9.000 .250 8.750 .0400 8.710 10/01/2027
60014149 Armengol ,Hilda C. 8.625 .250 8.375 .0400 8.335 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014135 Gale ,Susan 265826 $1,392.19 11/01/1997 360
60014136 Schneider ,Carl 265838 $870.08 11/01/1997 360
60014137 Thorlaksson ,Trausti 265895 $732.01 11/01/1997 360
60014139 Bigham ,Tony L. 265913 $1,427.41 11/01/1997 360
60014140 Meyer ,William S 265915 $452.92 11/01/1997 360
60014141 Winchester ,Stanley E 265918 $945.79 11/01/1997 360
60014142 Langwell ,Kay L. 265932 $727.23 11/01/1997 360
60014143 O Neal ,Walter 265948 $1,363.08 12 11/01/1997 360
60014144 Prakelt ,Hans J. 265962 $653.58 11/01/1997 360
60014145 Franks ,Saundra S 265968 $909.56 11/01/1997 360
60014146 Redding ,Charles A 265973 $948.90 11/01/1997 360
60014147 Reifsneider ,David J. 265984 $852.54 11/01/1997 360
60014148 Smith ,Matthew 265996 $832.78 12 11/01/1997 360
60014149 Armengol ,Hilda C. 266011 $915.46 11/01/1997 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>
60014135 Gale ,Susan $250,000.00 N
60014136 Schneider ,Carl $192,000.00 N
60014137 Thorlaksson ,Trausti $136,000.00 N
60014139 Bigham ,Tony L. $260,000.00 N
60014140 Meyer ,William S $88,000.00 N
60014141 Winchester ,Stanley E $152,000.00 N
60014142 Langwell ,Kay L. $121,000.00 N
60014143 O Neal ,Walter $194,989.00 N
60014144 Prakelt ,Hans J. $107,000.00 N
60014145 Franks ,Saundra S $270,000.00 N
60014146 Redding ,Charles A $175,000.00 N
60014147 Reifsneider ,David J. $209,000.00 N
60014148 Smith ,Matthew $115,000.00 N
60014149 Armengol ,Hilda C. $156,990.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014152 Hoffman ,Leonard F 1 Reisling Court Grand Junction CO 81503 $94,390.87
60014154 Noel ,Jocelyn 6904 Furman Parkway Riverdale MD 20737 $95,824.28
60014155 Culbertson ,Albert H. 4608 West Lake Circle Littleton CO 80123 $120,852.86
60014156 Starry ,Mary Ther 8875 West Yale Avenue Lakewood CO 80228 $80,152.43
60014157 Servin ,Aron 128 Herkimer Street Joliet IL 60432 $52,191.21
60014158 Ellibee ,Gery G. 212 21st Street S E Salem OR 97301 $97,478.25
60014159 Cronk ,Barbara 5210 South Emporia Way Englewood CO 80111 $94,681.74
60014160 Cannon ,Dee 994 South Foothill Road Idaho Falls ID 83401 $76,500.00
60014161 Bal ,Sahib 1775 West North Bear Cree Merced CA 95348 $125,773.76
60014162 Tangen ,Dianna L. 18970 West Moonlight Mesa Wickenburg AZ 85390 $94,250.00
60014163 Alfieri Jr. ,Frank D. 54 G Street Seaside Park NJ 8752 $199,884.93
60014164 Bordycott ,Lucinda L 20 Alyssum Ct Reno NV 89511 $146,863.23
60014165 Willar ,Helen 3225 E. Mountainair Drive Tucson AZ 85705 $127,848.32
60014168 Prives ,Carol M. 4180 N. Swan Road Tucson AZ 85718 $175,774.77
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014152 Hoffman ,Leonard F 8.750 .250 8.500 .0400 8.460 09/01/2027
60014154 Noel ,Jocelyn 8.500 .250 8.250 .0400 8.210 09/01/2027
60014155 Culbertson ,Albert H. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014156 Starry ,Mary Ther 8.500 .250 8.250 .0400 8.210 10/01/2027
60014157 Servin ,Aron 8.875 .250 8.625 .0400 8.585 10/01/2027
60014158 Ellibee ,Gery G. 8.375 .250 8.125 .0400 8.085 09/01/2027
60014159 Cronk ,Barbara 8.375 .250 8.125 .0400 8.085 09/01/2027
60014160 Cannon ,Dee 7.625 .250 7.375 .0400 7.335 11/01/2027
60014161 Bal ,Sahib 8.500 .250 8.250 .0400 8.210 10/01/2027
60014162 Tangen ,Dianna L. 8.000 .250 7.750 .0400 7.710 11/01/2027
60014163 Alfieri Jr. ,Frank D. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014164 Bordycott ,Lucinda L 8.625 .250 8.375 .0400 8.335 10/01/2027
60014165 Willar ,Helen 8.625 .250 8.375 .0400 8.335 09/01/2027
60014168 Prives ,Carol M. 8.250 .250 8.000 .0400 7.960 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014152 Hoffman ,Leonard F 266026 $743.43 7 11/01/1997 360
60014154 Noel ,Jocelyn 266042 $738.16 11/01/1997 360
60014155 Culbertson ,Albert H. 266071 $930.39 11/01/1997 360
60014156 Starry ,Mary Ther 266077 $617.05 11/01/1997 360
60014157 Servin ,Aron 266087 $415.72 2 11/01/1997 360
60014158 Ellibee ,Gery G. 266089 $741.83 11/01/1997 360
60014159 Cronk ,Barbara 266118 $720.55 11/01/1997 360
60014160 Cannon ,Dee 266121 $541.46 11/01/1997 360
60014161 Bal ,Sahib 266126 $967.68 2 11/01/1997 360
60014162 Tangen ,Dianna L. 266135 $691.57 11/01/1997 360
60014163 Alfieri Jr. ,Frank D. 266140 $1,573.40 11/01/1997 360
60014164 Bordycott ,Lucinda L 266161 $1,142.97 12 11/01/1997 360
60014165 Willar ,Helen 266184 $995.57 11/01/1997 360
60014168 Prives ,Carol M. 266264 $1,322.23 11/01/1997 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>
60014152 Hoffman ,Leonard F $105,000.00 N
60014154 Noel ,Jocelyn $129,000.00 N
60014155 Culbertson ,Albert H. $225,000.00 N
60014156 Starry ,Mary Ther $107,000.00 N
60014157 Servin ,Aron $55,000.00 N
60014158 Ellibee ,Gery G. $122,000.00 N
60014159 Cronk ,Barbara $118,500.00 N
60014160 Cannon ,Dee $175,000.00 N
60014161 Bal ,Sahib $132,500.00 N
60014162 Tangen ,Dianna L. $175,000.00 N
60014163 Alfieri Jr. ,Frank D. $272,000.00 N
60014164 Bordycott ,Lucinda L $163,331.00 N
60014165 Willar ,Helen $160,000.00 N
60014168 Prives ,Carol M. $220,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014169 Faulconer ,Robert S 1250 Highway 238 Jacksonville OR 97530 $128,555.15
60014170 Lee ,Andy S 15051 Avenida Del Monte Chino Hills CA 91709 $191,750.51
60014171 Holmes & Assoc, 14318 South Selina Lane Draper UT 84020 $191,895.12
60014172 Tran ,Nguyen Qu 4957 Euclid Court San Diego CA 92105 $115,120.72
60014173 Lundell ,Robert G. 2100 E. Main Street Medford OR 97504 $151,912.55
60014174 Gunggavakin ,Sang 2620 Louise Avenue Arcadia CA 91006 $211,868.23
60014175 Navarro ,Jose Rica 5808 Hellman Avenue Rancho Cucamong CA 91730 $209,210.70
60014176 Sparks ,Michele 4045 N E 216th Avenue Fairview OR 97024 $135,717.01
60014178 Freyre-henry ,Lucia 1250 West Avenue 7n Miami Beach FL 33139 $57,535.16
60014180 French ,Daniel M. 2855 South Teller Street Denver CO 80227 $119,846.43
60014181 Cochran ,Donna R. 373 East 9th Avenue Roselle NJ 7203 $104,455.57
60014182 Le ,Thuy Than 2674 Jodeco Drive Jonesboro GA 30236 $187,277.80
60014183 Schaefer ,John J. 4275 West Gail Drive Chandler AZ 85226 $91,941.33
60014187 Reyling ,Arthur T. 4479 West Sun Quest Stree Tucson AZ 85741 $73,797.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014169 Faulconer ,Robert S 8.875 .250 8.625 .0400 8.585 10/01/2027
60014170 Lee ,Andy S 8.375 .250 8.125 .0400 8.085 10/01/2027
60014171 Holmes & Assoc, 9.000 .250 8.750 .0400 8.710 10/01/2027
60014172 Tran ,Nguyen Qu 7.875 .250 7.625 .0400 7.585 10/01/2027
60014173 Lundell ,Robert G. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014174 Gunggavakin ,Sang 8.375 .250 8.125 .0400 8.085 10/01/2027
60014175 Navarro ,Jose Rica 7.875 .250 7.625 .0400 7.585 09/01/2027
60014176 Sparks ,Michele 8.000 .250 7.750 .0400 7.710 09/01/2027
60014178 Freyre-henry ,Lucia 8.875 .250 8.625 .0400 8.585 10/01/2027
60014180 French ,Daniel M. 8.250 .250 8.000 .0400 7.960 09/01/2027
60014181 Cochran ,Donna R. 7.875 .250 7.625 .0400 7.585 09/01/2027
60014182 Le ,Thuy Than 8.625 .250 8.375 .0400 8.335 09/01/2027
60014183 Schaefer ,John J. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014187 Reyling ,Arthur T. 7.875 .250 7.625 .0400 7.585 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014169 Faulconer ,Robert S 266273 $1,024.00 11/01/1997 360
60014170 Lee ,Andy S 266280 $1,459.26 11/01/1997 360
60014171 Holmes & Assoc, 266295 $1,544.88 11/01/1997 360
60014172 Tran ,Nguyen Qu 266301 $835.28 11/01/1997 360
60014173 Lundell ,Robert G. 266313 $1,195.78 11/01/1997 360
60014174 Gunggavakin ,Sang 266320 $1,611.35 11/01/1997 360
60014175 Navarro ,Jose Rica 266327 $1,519.02 11/01/1997 360
60014176 Sparks ,Michele 266338 $997.19 11/01/1997 360
60014178 Freyre-henry ,Lucia 266373 $458.30 11/01/1997 360
60014180 French ,Daniel M. 266407 $901.52 11/01/1997 360
60014181 Cochran ,Donna R. 266419 $758.42 11/01/1997 360
60014182 Le ,Thuy Than 266449 $1,458.36 11/01/1997 360
60014183 Schaefer ,John J. 266463 $691.17 11/01/1997 360
60014187 Reyling ,Arthur T. 266511 $535.83 11/01/1997 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>
60014169 Faulconer ,Robert S $195,000.00 N
60014170 Lee ,Andy S $239,990.00 N
60014171 Holmes & Assoc, $240,000.00 N
60014172 Tran ,Nguyen Qu $144,000.00 N
60014173 Lundell ,Robert G. $190,000.00 N
60014174 Gunggavakin ,Sang $265,000.00 N
60014175 Navarro ,Jose Rica $299,500.00 N
60014176 Sparks ,Michele $169,900.00 N
60014178 Freyre-henry ,Lucia $72,000.00 N
60014180 French ,Daniel M. $150,000.00 N
60014181 Cochran ,Donna R. $139,500.00 N
60014182 Le ,Thuy Than $250,000.00 N
60014183 Schaefer ,John J. $115,000.00 N
60014187 Reyling ,Arthur T. $98,575.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 33
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014188 Rappa ,Richard 21 Palm Lane Westbury NY 11590 $138,307.14
60014189 Warner ,Joseph B. 202 North La Luna Avenue Ojai CA 93023 $116,757.86
60014190 Krampikowski ,Michele G 19218 Southeast 20th Cour Issaquah WA 98029 $99,881.50
60014191 Monier ,Louis 751 East Ranch Road Gilbert AZ 85296 $131,765.92
60014193 Yost ,Sheila R. 3825 Crestwood Terrace Fort Worth TX 76107 $139,846.49
60014194 Caudill ,Gail 6004 74th Street Marysville WA 98270 $85,390.59
60014195 Bambikian ,Karo L 3100 Center Court Drive Modesto CA 95355 $85,834.34
60014199 Szmuc ,Debra 9232 South Poplar Street Tempe AZ 85284 $173,788.43
60014201 Kent ,Steve 206 Saratoga Avenue Grover Beach CA 93433 $89,043.18
60014202 Harris ,Dorothy J 1699 Deep Springs Avenue Las Vegas NV 89123 $136,583.73
60014203 Lawrence ,Tracy J. 19355 Sherman Way #8 Reseda CA 91335 $85,352.11
60014204 Piekarski ,Theodore 26827 North 41st Way Phoenix AZ 85331 $141,219.06
60014205 Muir- Horowitz,Nadine 5840 Lake Crowley Place San Jose CA 95123 $175,085.39
60014206 Lewis ,Bertha E. 6840 Somerworth Drive Citrus Heights CA 95621 $85,947.90
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014188 Rappa ,Richard 8.000 .250 7.750 .0400 7.710 10/01/2027
60014189 Warner ,Joseph B. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014190 Krampikowski ,Michele G 8.625 .250 8.375 .0400 8.335 10/01/2027
60014191 Monier ,Louis 8.250 .250 8.000 .0400 7.960 10/01/2027
60014193 Yost ,Sheila R. 9.000 .250 8.750 .0400 8.710 09/01/2027
60014194 Caudill ,Gail 8.250 .250 8.000 .0400 7.960 09/01/2027
60014195 Bambikian ,Karo L 8.250 .250 8.000 .0400 7.960 09/01/2027
60014199 Szmuc ,Debra 8.500 .250 8.250 .0400 8.210 09/01/2027
60014201 Kent ,Steve 8.250 .250 8.000 .0400 7.960 10/01/2027
60014202 Harris ,Dorothy J 8.500 .250 8.250 .0400 8.210 09/01/2027
60014203 Lawrence ,Tracy J. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014204 Piekarski ,Theodore 8.250 .250 8.000 .0400 7.960 09/01/2027
60014205 Muir- Horowitz,Nadine 8.125 .250 7.875 .0400 7.835 10/01/2027
60014206 Lewis ,Bertha E. 8.500 .250 8.250 .0400 8.210 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014188 Rappa ,Richard 266527 $1,015.53 11/01/1997 360
60014189 Warner ,Joseph B. 266528 $898.86 11/01/1997 360
60014190 Krampikowski ,Michele G 266541 $777.79 11/01/1997 360
60014191 Monier ,Louis 266550 $990.55 7 11/01/1997 360
60014193 Yost ,Sheila R. 266567 $1,126.47 11/01/1997 360
60014194 Caudill ,Gail 266584 $642.33 11/01/1997 360
60014195 Bambikian ,Karo L 266604 $646.09 11/01/1997 360
60014199 Szmuc ,Debra 266674 $1,337.91 11/01/1997 360
60014201 Kent ,Steve 266714 $669.38 11/01/1997 360
60014202 Harris ,Dorothy J 266718 $1,051.49 11/01/1997 360
60014203 Lawrence ,Tracy J. 266723 $679.49 12 11/01/1997 360
60014204 Piekarski ,Theodore 266747 $1,062.29 11/01/1997 360
60014205 Muir- Horowitz,Nadine 266771 $1,300.86 11/01/1997 360
60014206 Lewis ,Bertha E. 266772 $661.27 11/01/1997 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>
60014188 Rappa ,Richard $173,000.00 N
60014189 Warner ,Joseph B. $164,900.00 N
60014190 Krampikowski ,Michele G $248,000.00 N
60014191 Monier ,Louis $146,548.00 N
60014193 Yost ,Sheila R. $175,000.00 N
60014194 Caudill ,Gail $114,000.00 N
60014195 Bambikian ,Karo L $136,115.00 N
60014199 Szmuc ,Debra $330,000.00 N
60014201 Kent ,Steve $119,000.00 N
60014202 Harris ,Dorothy J $170,990.00 N
60014203 Lawrence ,Tracy J. $95,000.00 N
60014204 Piekarski ,Theodore $202,051.00 N
60014205 Muir- Horowitz,Nadine $219,000.00 N
60014206 Lewis ,Bertha E. $115,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 34
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014208 Gubler ,Bea P. 2894 South Cartland Drive Hurricane UT 84737 $69,958.68
60014209 Botvin ,Ivan J. 5300 East Weaver Drive Littleton CO 80121 $177,480.83
60014210 Covington ,Lyman D 361 East 200 South Kaysville UT 84037 $99,887.47
60014211 Golden ,David A. 1209 E. Loma Vista Drive Tempe AZ 85282 $82,906.58
60014213 Spaleck ,Martin 1040 Oysterwood Street Hollywood FL 33019 $169,808.68
60014214 Saghi ,Allan J. 1101 Green Street #1602 San Francisco CA 94109 $166,299.20
60014216 Talerico ,Daniel J. 9433 East 5th Street Tucson AZ 85710 $85,889.94
60014218 Johnson ,Travis A. 28 East Kanab Creek Drive Kanab UT 84741 $68,756.13
60014219 McLeod ,Sharon 11167 North Desert Flower Tucson AZ 85737 $94,945.34
60014220 Anderson ,John 1254 Risden Place Eugene OR 97404 $84,983.85
60014221 Ines ,Edward M. 690 Atkins Drive Glendale CA 91206 $143,824.90
60014222 Fredericks ,Joseph 405 Park Avenue, #d-4 Basalt CO 81621 $131,316.21
60014223 Acton ,Cynthia R 3433 Dickens Drive Virginia Beach VA 23452 $93,083.73
60014224 Kay ,Stephen L 55 East 9th Street Apt. 7 New York NY 10003 $54,838.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014208 Gubler ,Bea P. 8.625 .250 8.375 .0400 8.335 10/01/2027
60014209 Botvin ,Ivan J. 8.000 .250 7.750 .0400 7.710 10/01/2027
60014210 Covington ,Lyman D 8.875 .250 8.625 .0400 8.585 10/01/2027
60014211 Golden ,David A. 8.875 .250 8.625 .0400 8.585 09/01/2027
60014213 Spaleck ,Martin 8.875 .250 8.625 .0400 8.585 09/01/2027
60014214 Saghi ,Allan J. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014216 Talerico ,Daniel J. 8.250 .250 8.000 .0400 7.960 09/01/2027
60014218 Johnson ,Travis A. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014219 McLeod ,Sharon 8.750 .250 8.500 .0400 8.460 10/01/2027
60014220 Anderson ,John 8.375 .250 8.125 .0400 8.085 09/01/2027
60014221 Ines ,Edward M. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014222 Fredericks ,Joseph 8.250 .250 8.000 .0400 7.960 10/01/2027
60014223 Acton ,Cynthia R 8.375 .250 8.125 .0400 8.085 09/01/2027
60014224 Kay ,Stephen L 8.875 .250 8.625 .0400 8.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014208 Gubler ,Bea P. 266798 $544.45 11/01/1997 360
60014209 Botvin ,Ivan J. 266803 $1,303.17 11/01/1997 360
60014210 Covington ,Lyman D 266807 $795.64 11/01/1997 360
60014211 Golden ,David A. 266821 $660.39 11/01/1997 360
60014213 Spaleck ,Martin 266832 $1,352.60 11/01/1997 360
60014214 Saghi ,Allan J. 266912 $1,279.47 11/01/1997 360
60014216 Talerico ,Daniel J. 266943 $646.09 11/01/1997 360
60014218 Johnson ,Travis A. 266947 $516.87 11/01/1997 360
60014219 McLeod ,Sharon 266950 $747.37 11/01/1997 360
60014220 Anderson ,John 266957 $646.75 11/01/1997 360
60014221 Ines ,Edward M. 266961 $1,107.24 11/01/1997 360
60014222 Fredericks ,Joseph 266981 $987.17 7 11/01/1997 360
60014223 Acton ,Cynthia R 267000 $708.39 11/01/1997 360
60014224 Kay ,Stephen L 267033 $436.81 11/01/1997 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>
60014208 Gubler ,Bea P. $149,000.00 N
60014209 Botvin ,Ivan J. $222,000.00 N
60014210 Covington ,Lyman D $125,000.00 N
60014211 Golden ,David A. $124,500.00 N
60014213 Spaleck ,Martin $251,238.00 N
60014214 Saghi ,Allan J. $440,000.00 N
60014216 Talerico ,Daniel J. $110,000.00 N
60014218 Johnson ,Travis A. $86,000.00 N
60014219 McLeod ,Sharon $146,696.00 N
60014220 Anderson ,John $127,000.00 N
60014221 Ines ,Edward M. $180,000.00 N
60014222 Fredericks ,Joseph $146,000.00 N
60014223 Acton ,Cynthia R $116,500.00 N
60014224 Kay ,Stephen L $85,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 35
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014225 Bennion ,Richard 1105 South 800 East Salt Lake City UT 84105 $136,829.10
60014226 Musick ,Michael C 2126 North Chrysler Drive Tucson AZ 85716 $79,947.67
60014228 Tate ,Rudolph 1110 Cape Aire Lane Carlsbad CA 92008 $181,895.29
60014229 Capone ,Joseph 26582 Somerly Mission Viejo CA 92692 $214,311.06
60014230 Taylor ,William M 1431 Klows Trail Elizabeth CO 80107 $160,000.00
60014231 Vielot ,Vertus 4421 Clarendon Road Brooklyn NY 11203 $60,000.00
60014232 Mills ,Richard B 4678 South Hanauer Street Murray UT 84107 $103,873.53
60014233 Medina ,Jack D. 0264 Larkspur Lane Avon CO 81620 $213,060.53
60014234 Eldredge ,Barry B. 5025 South 600 West Washington Terr UT 84405 $77,802.84
60014235 Cook ,Kimberly 1501 Blueteal Drive Brandon FL 33511 $67,887.71
60014238 Moulton ,William C 2768 Grandeur Avenue Altadena CA 91001 $55,938.59
60014239 Reese ,Larry J. 14838 Echo Ridge Drive Nevada City CA 95959 $119,750.63
60014240 Weaver ,Clarence 842 East Silver Street Tucson AZ 85719 $73,650.45
60014242 Miller ,Margaret 33 Oakland Street Huntington NY 11743 $115,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014225 Bennion ,Richard 8.375 .250 8.125 .0400 8.085 09/01/2027
60014226 Musick ,Michael C 8.125 .250 7.875 .0400 7.835 10/01/2027
60014228 Tate ,Rudolph 8.750 .250 8.500 .0400 8.460 10/01/2027
60014229 Capone ,Joseph 8.000 .250 7.750 .0400 7.710 09/01/2027
60014230 Taylor ,William M 7.875 .250 7.625 .0400 7.585 11/01/2027
60014231 Vielot ,Vertus 8.500 .250 8.250 .0400 8.210 11/01/2027
60014232 Mills ,Richard B 8.500 .250 8.250 .0400 8.210 10/01/2027
60014233 Medina ,Jack D. 8.125 .250 7.875 .0400 7.835 10/01/2027
60014234 Eldredge ,Barry B. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014235 Cook ,Kimberly 9.000 .250 8.750 .0400 8.710 09/01/2027
60014238 Moulton ,William C 9.000 .250 8.750 .0400 8.710 10/01/2027
60014239 Reese ,Larry J. 7.875 .250 7.625 .0400 7.585 09/01/2027
60014240 Weaver ,Clarence 8.000 .250 7.750 .0400 7.710 09/01/2027
60014242 Miller ,Margaret 8.250 .250 8.000 .0400 7.960 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014225 Bennion ,Richard 267034 $1,041.30 11/01/1997 360
60014226 Musick ,Michael C 267036 $594.00 11/01/1997 360
60014228 Tate ,Rudolph 267051 $1,431.79 11/01/1997 360
60014229 Capone ,Joseph 267053 $1,574.66 11/01/1997 360
60014230 Taylor ,William M 267060 $1,160.11 11/01/1997 360
60014231 Vielot ,Vertus 267079 $461.35 11/01/1997 360
60014232 Mills ,Richard B 267095 $799.68 11/01/1997 360
60014233 Medina ,Jack D. 267099 $1,583.01 11/01/1997 360
60014234 Eldredge ,Barry B. 267112 $598.60 7 11/01/1997 360
60014235 Cook ,Kimberly 267117 $547.15 11/01/1997 360
60014238 Moulton ,William C 267129 $450.59 11/01/1997 360
60014239 Reese ,Larry J. 267131 $870.08 11/01/1997 360
60014240 Weaver ,Clarence 267137 $541.52 2 11/01/1997 360
60014242 Miller ,Margaret 267143 $863.96 11/01/1997 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>
60014225 Bennion ,Richard $190,000.00 N
60014226 Musick ,Michael C $100,000.00 N
60014228 Tate ,Rudolph $260,000.00 N
60014229 Capone ,Joseph $270,000.00 N
60014230 Taylor ,William M $200,000.00 N
60014231 Vielot ,Vertus $165,000.00 N
60014232 Mills ,Richard B $130,000.00 N
60014233 Medina ,Jack D. $266,500.00 N
60014234 Eldredge ,Barry B. $86,500.00 N
60014235 Cook ,Kimberly $92,000.00 N
60014238 Moulton ,William C $70,000.00 N
60014239 Reese ,Larry J. $150,000.00 N
60014240 Weaver ,Clarence $82,000.00 N
60014242 Miller ,Margaret $205,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 36
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014243 Gerst ,Martin 937 West Cantebria Drive Gilbert AZ 85233 $82,299.80
60014244 Williams ,Frank J. 4322 East Bryn Mawr Road Tucson AZ 85711 $120,249.80
60014245 Anderson ,Michael G 1615 East Silver Street Tucson AZ 85719 $59,431.27
60014246 Meath ,William A 401 Dale Avenue Mc Henry IL 60050 $114,914.65
60014247 Frostad ,Lisa M 3579 253rd Court Se Issaquah WA 98029 $191,747.95
60014249 Bytomski ,Jeffrey R 16403 South 47th Place Phoenix AZ 85044 $121,141.30
60014250 Lam ,Quang 10731 Vickens Avenue Garden Grove CA 92840 $159,721.82
60014251 Monge ,Edgardo 478 Valley Road Clifton NJ 7011 $144,000.00
60014252 Murphy ,Mary K 100 Waipalani Road Haiku HI 96708 $200,000.00
60014253 Smith ,Pauline M 1302 Queen Anne Ave. N. Seattle WA 98109 $52,398.89
60014254 Starks ,Edward Ja 22886 Kingsley Street Lake Forest CA 92630 $160,105.42
60014255 Derusha Jr ,Glenn E 1173 Cochran Road Pittsburgh PA 15243 $98,473.82
60014256 Alejandre ,Pricilian 275 & 277 Alaska Street Turlock CA 95380 $77,957.39
60014257 Sweeney ,Judith L. 12421 Everglade Street Los Angeles CA 90066 $207,870.72
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014243 Gerst ,Martin 8.500 .250 8.250 .0400 8.210 09/01/2027
60014244 Williams ,Frank J. 8.375 .250 8.125 .0400 8.085 09/01/2027
60014245 Anderson ,Michael G 8.750 .250 8.500 .0400 8.460 10/01/2027
60014246 Meath ,William A 7.500 .250 7.250 .0400 7.210 10/01/2027
60014247 Frostad ,Lisa M 8.125 .250 7.875 .0400 7.835 09/01/2027
60014249 Bytomski ,Jeffrey R 7.750 .250 7.500 .0400 7.460 09/01/2027
60014250 Lam ,Quang 8.750 .250 8.500 .0400 8.460 09/01/2027
60014251 Monge ,Edgardo 8.875 .250 8.625 .0400 8.585 11/01/2027
60014252 Murphy ,Mary K 8.000 .250 7.750 .0400 7.710 11/01/2027
60014253 Smith ,Pauline M 8.250 .250 8.000 .0400 7.960 09/01/2027
60014254 Starks ,Edward Ja 8.625 .250 8.375 .0400 8.335 10/01/2027
60014255 Derusha Jr ,Glenn E 8.250 .250 8.000 .0400 7.960 09/01/2027
60014256 Alejandre ,Pricilian 9.000 .250 8.750 .0400 8.710 10/01/2027
60014257 Sweeney ,Judith L. 8.375 .250 8.125 .0400 8.085 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014243 Gerst ,Martin 267157 $633.59 11/01/1997 360
60014244 Williams ,Frank J. 267163 $915.13 11/01/1997 360
60014245 Anderson ,Michael G 267168 $468.09 11/01/1997 360
60014246 Meath ,William A 267174 $804.10 11/01/1997 360
60014247 Frostad ,Lisa M 267185 $1,425.60 11/01/1997 360
60014249 Bytomski ,Jeffrey R 267193 $869.72 11/01/1997 360
60014250 Lam ,Quang 267203 $1,258.72 12 11/01/1997 360
60014251 Monge ,Edgardo 267216 $1,145.73 11/01/1997 360
60014252 Murphy ,Mary K 267221 $1,467.53 11/01/1997 360
60014253 Smith ,Pauline M 267277 $394.41 11/01/1997 360
60014254 Starks ,Edward Ja 267292 $1,246.02 12 11/01/1997 360
60014255 Derusha Jr ,Glenn E 267304 $740.75 11/01/1997 360
60014256 Alejandre ,Pricilian 267312 $627.61 11/01/1997 360
60014257 Sweeney ,Judith L. 267357 $1,580.95 11/01/1997 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>
60014243 Gerst ,Martin $103,000.00 N
60014244 Williams ,Frank J. $150,500.00 N
60014245 Anderson ,Michael G $85,000.00 N
60014246 Meath ,William A $155,000.00 N
60014247 Frostad ,Lisa M $240,000.00 N
60014249 Bytomski ,Jeffrey R $151,750.00 N
60014250 Lam ,Quang $178,000.00 N
60014251 Monge ,Edgardo $180,000.00 N
60014252 Murphy ,Mary K $260,000.00 N
60014253 Smith ,Pauline M $75,000.00 N
60014254 Starks ,Edward Ja $178,000.00 N
60014255 Derusha Jr ,Glenn E $131,500.00 N
60014256 Alejandre ,Pricilian $102,000.00 N
60014257 Sweeney ,Judith L. $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 37
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014258 Kear ,Mary Eliz 311 D Street Silver City NM 88061 $54,925.95
60014259 Ehlinger ,Michael 4111 N. W. 66th Avenue Pompano Beach FL 33067 $198,000.00
60014260 Stefanac ,Suzi 968 Penisula Avenue San Mateo CA 94401 $159,098.48
60014261 Belo ,Matilde S 3915 Evadale Drive Los Angeles CA 90031 $115,370.02
60014262 Ward ,Tahirih J 13443 Orange Blossom Lane Poway CA 92064 $86,947.29
60014263 Baugher ,Andrea 4618 Route 50 (t/o Wilton Gansevoort NY 12831 $58,219.48
60014264 Perini, Jr. ,Robert A. 3607 East Sheridan Street Phoenix AZ 85008 $84,298.90
60014265 Edgett ,Robert N. 21985 Tobarra Mission Viejo CA 92692 $106,793.88
60014266 Burton ,Sarah Kay 61451 Rock Bluff Lane Bend OR 97702 $116,029.67
60014267 Kiriakos ,George 31366 Ashmill Court Temecula CA 92591 $112,299.29
60014268 Wafford ,Herman Z 2124 Sylvia Street Selma CA 93662 $55,140.84
60014269 Mannino ,Samuel P. Blue Bell Road Centre Hall PA 16828 $106,785.27
60014271 Donado ,Alvaro 3860 S W 130 Avenue Miami FL 33175 $80,898.95
60014272 Abruzzo ,Frank 1688 West Avenue P H 9 Miami Beach FL 33139 $119,932.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014258 Kear ,Mary Eliz 8.000 .250 7.750 .0400 7.710 10/01/2027
60014259 Ehlinger ,Michael 8.375 .250 8.125 .0400 8.085 11/01/2027
60014260 Stefanac ,Suzi 8.250 .250 8.000 .0400 7.960 10/01/2027
60014261 Belo ,Matilde S 8.875 .250 8.625 .0400 8.585 10/01/2027
60014262 Ward ,Tahirih J 8.500 .250 8.250 .0400 8.210 10/01/2027
60014263 Baugher ,Andrea 7.875 .250 7.625 .0400 7.585 10/01/2027
60014264 Perini, Jr. ,Robert A. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014265 Edgett ,Robert N. 8.250 .250 8.000 .0400 7.960 09/01/2027
60014266 Burton ,Sarah Kay 8.500 .250 8.250 .0400 8.210 10/01/2027
60014267 Kiriakos ,George 8.625 .250 8.375 .0400 8.335 09/01/2027
60014268 Wafford ,Herman Z 8.125 .250 7.875 .0400 7.835 09/01/2027
60014269 Mannino ,Samuel P. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014271 Donado ,Alvaro 8.375 .250 8.125 .0400 8.085 10/01/2027
60014272 Abruzzo ,Frank 8.875 .250 8.625 .0400 8.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014258 Kear ,Mary Eliz 267359 $403.57 11/01/1997 360
60014259 Ehlinger ,Michael 267363 $1,504.95 11/01/1997 360
60014260 Stefanac ,Suzi 267364 $1,196.02 11/01/1997 360
60014261 Belo ,Matilde S 267365 $918.97 11/01/1997 360
60014262 Ward ,Tahirih J 267372 $668.96 11/01/1997 360
60014263 Baugher ,Andrea 267377 $422.72 11/01/1997 360
60014264 Perini, Jr. ,Robert A. 267378 $648.58 11/01/1997 360
60014265 Edgett ,Robert N. 267391 $803.86 11/01/1997 360
60014266 Burton ,Sarah Kay 267400 $892.71 11/01/1997 360
60014267 Kiriakos ,George 267405 $875.02 11/01/1997 360
60014268 Wafford ,Herman Z 267414 $410.23 11/01/1997 360
60014269 Mannino ,Samuel P. 267415 $821.58 11/01/1997 360
60014271 Donado ,Alvaro 267433 $615.66 11/01/1997 360
60014272 Abruzzo ,Frank 267452 $954.77 11/01/1997 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>
60014258 Kear ,Mary Eliz $135,000.00 N
60014259 Ehlinger ,Michael $247,500.00 N
60014260 Stefanac ,Suzi $199,000.00 N
60014261 Belo ,Matilde S $165,000.00 N
60014262 Ward ,Tahirih J $171,000.00 N
60014263 Baugher ,Andrea $72,900.00 N
60014264 Perini, Jr. ,Robert A. $112,500.00 N
60014265 Edgett ,Robert N. $192,000.00 N
60014266 Burton ,Sarah Kay $145,125.00 N
60014267 Kiriakos ,George $150,000.00 N
60014268 Wafford ,Herman Z $85,000.00 N
60014269 Mannino ,Samuel P. $142,500.00 N
60014271 Donado ,Alvaro $270,000.00 N
60014272 Abruzzo ,Frank $160,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 38
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014273 Liu ,Ai-dang 1410 South Stonecrest Pla Diamond Bar CA 91765 $183,792.92
60014274 Camarena ,Fred J. 1707 Roosevelt Street Placentia CA 92870 $133,525.10
60014275 Yochim ,Victoria 36825 Little Leaf Drive Palmdale CA 93550 $56,233.46
60014277 Huynh ,Dat M. T. 11091 Sagittarius San Diego CA 92126 $146,306.65
60014279 Parkhill ,David Ala 11625 Pine Grove Lane Parker CO 80134 $191,081.16
60014281 Willenborg ,David R. 60601 Marjorie Ann South Lyon MI 48178 $110,665.27
60014282 Stewart ,William V 3106 Chipeta Avenue Grand Junction CO 81504 $66,963.40
60014283 Greene ,Gregory K 5704 Lasaine Avenue Encino CA 91316 $87,288.15
60014284 Rasmussen ,Brant L 7224 North Syracuse Stree Portland OR 97203 $91,751.29
60014285 Kane ,Devon 411 University Place San Diego CA 92103 $206,368.32
60014286 Janowicz ,Stephen P 796 Ottawa Drive Placentia CA 92870 $70,334.87
60014287 Murphy ,Francis M 758 Hemlock Road Lyons CO 80540 $161,637.52
60014288 Stoy ,John A. 16208 Woburn Road Sharpsburg MD 21782 $139,915.19
60014289 Carson ,Marjorie 36220 Village Road Yucaipa CA 92399 $211,611.96
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014273 Liu ,Ai-dang 8.875 .250 8.625 .0400 8.585 10/01/2027
60014274 Camarena ,Fred J. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014275 Yochim ,Victoria 8.875 .250 8.625 .0400 8.585 10/01/2027
60014277 Huynh ,Dat M. T. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014279 Parkhill ,David Ala 8.375 .250 8.125 .0400 8.085 10/01/2027
60014281 Willenborg ,David R. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014282 Stewart ,William V 9.000 .250 8.750 .0400 8.710 10/01/2027
60014283 Greene ,Gregory K 8.250 .250 8.000 .0400 7.960 09/01/2027
60014284 Rasmussen ,Brant L 8.000 .250 7.750 .0400 7.710 10/01/2027
60014285 Kane ,Devon 8.250 .250 8.000 .0400 7.960 10/01/2027
60014286 Janowicz ,Stephen P 8.250 .250 8.000 .0400 7.960 09/01/2027
60014287 Murphy ,Francis M 8.625 .250 8.375 .0400 8.335 10/01/2027
60014288 Stoy ,John A. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014289 Carson ,Marjorie 8.500 .250 8.250 .0400 8.210 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014273 Liu ,Ai-dang 267459 $1,463.99 11/01/1997 360
60014274 Camarena ,Fred J. 267494 $1,062.98 11/01/1997 360
60014275 Yochim ,Victoria 267541 $447.67 11/01/1997 360
60014277 Huynh ,Dat M. T. 267585 $1,099.85 11/01/1997 360
60014279 Parkhill ,David Ala 267598 $1,453.26 11/01/1997 360
60014281 Willenborg ,David R. 267612 $851.96 11/01/1997 360
60014282 Stewart ,William V 267634 $539.10 11/01/1997 360
60014283 Greene ,Gregory K 267636 $656.61 11/01/1997 360
60014284 Rasmussen ,Brant L 267671 $674.15 11/01/1997 360
60014285 Kane ,Devon 267685 $1,551.37 11/01/1997 360
60014286 Janowicz ,Stephen P 267692 $529.08 11/01/1997 360
60014287 Murphy ,Francis M 267709 $1,257.94 11/01/1997 360
60014288 Stoy ,John A. 267735 $1,076.48 11/01/1997 360
60014289 Carson ,Marjorie 267737 $1,630.10 11/01/1997 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>
60014273 Liu ,Ai-dang $230,000.00 N
60014274 Camarena ,Fred J. $167,000.00 N
60014275 Yochim ,Victoria $75,026.00 N
60014277 Huynh ,Dat M. T. $183,000.00 N
60014279 Parkhill ,David Ala $239,000.00 N
60014281 Willenborg ,David R. $138,500.00 N
60014282 Stewart ,William V $97,000.00 N
60014283 Greene ,Gregory K $124,900.00 N
60014284 Rasmussen ,Brant L $122,500.00 N
60014285 Kane ,Devon $270,000.00 N
60014286 Janowicz ,Stephen P $93,900.00 N
60014287 Murphy ,Francis M $230,000.00 N
60014288 Stoy ,John A. $203,000.00 N
60014289 Carson ,Marjorie $265,300.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 39
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014290 Roberts ,Peter M. 1 Downing Street #1 Denver CO 80218 $122,429.52
60014291 Aragon ,Lorenzo 829 North Summit Avenue Pasadena CA 91103 $105,539.24
60014292 Knapp ,Melanie D 959 East Fountain Street Mesa AZ 85203 $77,512.67
60014294 Day ,Lorraine 5510 Armitos Avenue #5 Goleta CA 93117 $59,182.24
60014295 Nizetich ,Tom A. 1517 Dalmatia Drive (San Los Angeles CA 90732 $151,907.92
60014297 Bastie ,Virginia 147 Cardinal Street Bellmawr NJ 8031 $97,381.44
60014298 Stoddard ,Kerri L 153 W 1310 South Logan UT 84321 $61,158.94
60014299 Gottschalk ,Rennie 27823 Ferguson Drive Castaic CA 91384 $123,928.66
60014300 Gerstein ,Robert B. 100 East Hartsdale Avenue Hartsdale NY 10530 $114,256.41
60014301 Scotti ,Michelle 217 Tonea Way Richardson Spri CA 95973 $91,141.84
60014302 Hunt ,Cheryl A. 14537 S.e. Fairwood Renton WA 98058 $208,460.04
60014303 Green ,Joseph W 31233 S W Chia Loop Wilsonville OR 97070 $127,926.35
60014305 Johnson ,Loreen K 22 stagecoach court Saint Peters MO 63376 $49,971.97
60014306 Manning ,Kathleen 12859 Palidades Street Truckee CA 96161 $146,067.55
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014290 Roberts ,Peter M. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014291 Aragon ,Lorenzo 8.750 .250 8.500 .0400 8.460 10/01/2027
60014292 Knapp ,Melanie D 8.875 .250 8.625 .0400 8.585 09/01/2027
60014294 Day ,Lorraine 8.250 .250 8.000 .0400 7.960 10/01/2027
60014295 Nizetich ,Tom A. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014297 Bastie ,Virginia 8.500 .250 8.250 .0400 8.210 10/01/2027
60014298 Stoddard ,Kerri L 8.000 .250 7.750 .0400 7.710 10/01/2027
60014299 Gottschalk ,Rennie 8.750 .250 8.500 .0400 8.460 10/01/2027
60014300 Gerstein ,Robert B. 8.625 .250 8.375 .0400 8.335 04/01/2027
60014301 Scotti ,Michelle 8.250 .250 8.000 .0400 7.960 10/01/2027
60014302 Hunt ,Cheryl A. 8.000 .250 7.750 .0400 7.710 10/01/2027
60014303 Green ,Joseph W 8.750 .250 8.500 .0400 8.460 10/01/2027
60014305 Johnson ,Loreen K 8.875 .250 8.625 .0400 8.585 10/01/2027
60014306 Manning ,Kathleen 8.375 .250 8.125 .0400 8.085 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014290 Roberts ,Peter M. 267738 $963.71 11/01/1997 360
60014291 Aragon ,Lorenzo 267739 $830.76 11/01/1997 360
60014292 Knapp ,Melanie D 267749 $617.42 11/01/1997 360
60014294 Day ,Lorraine 267834 $444.90 11/01/1997 360
60014295 Nizetich ,Tom A. 267835 $1,168.75 11/01/1997 360
60014297 Bastie ,Virginia 267907 $749.70 11/01/1997 360
60014298 Stoddard ,Kerri L 267932 $449.06 7 11/01/1997 360
60014299 Gottschalk ,Rennie 267954 $975.51 11/01/1997 360
60014300 Gerstein ,Robert B. 267962 $892.51 12 11/01/1997 360
60014301 Scotti ,Michelle 267986 $685.16 11/01/1997 360
60014302 Hunt ,Cheryl A. 267991 $1,530.63 11/01/1997 360
60014303 Green ,Joseph W 267993 $1,006.98 11/01/1997 360
60014305 Johnson ,Loreen K 268010 $397.82 11/01/1997 360
60014306 Manning ,Kathleen 268027 $1,111.61 11/01/1997 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>
60014290 Roberts ,Peter M. $182,500.00 N
60014291 Aragon ,Lorenzo $132,000.00 N
60014292 Knapp ,Melanie D $97,000.00 N
60014294 Day ,Lorraine $84,600.00 N
60014295 Nizetich ,Tom A. $190,000.00 N
60014297 Bastie ,Virginia $130,000.00 N
60014298 Stoddard ,Kerri L $68,000.00 N
60014299 Gottschalk ,Rennie $170,000.00 N
60014300 Gerstein ,Robert B. $127,500.00 N
60014301 Scotti ,Michelle $114,000.00 N
60014302 Hunt ,Cheryl A. $300,000.00 N
60014303 Green ,Joseph W $160,000.00 N
60014305 Johnson ,Loreen K $73,000.00 N
60014306 Manning ,Kathleen $195,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 40
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014307 Garibay ,Rachel 181 Xavier Street Denver CO 80219 $73,459.85
60014308 Cyr ,Jeanine K 15800 Village Green Drive Mill Creek WA 98012 $59,964.58
60014309 Vosburgh ,Edward 1404 Eliza Street Key West FL 33040 $71,000.00
60014310 Taniguchi ,Robbin 824 West 4th Street San Pedro CA 90731 $206,780.13
60014311 Villalobos ,Elba 14233 Kendale Lakes Circl Miami FL 33183 $89,547.10
60014312 Hillman ,Douglas R 86 South 2000 East St George UT 84770 $84,804.46
60014313 Norris ,James 4800 Club View Circle Mesquite TX 75149 $164,909.87
60014314 Ori ,Christoph 7405 Saint Andrews Road Lake Worth FL 33467 $131,924.05
60014315 Diaz ,Arturo V. 501 2nd Street Palisades Park NJ 7650 $159,500.00
60014316 Teske ,Richard A 3612 South Milton Shopier Janesville WI 53546 $115,133.72
60014317 Kermani ,Abner M. 1909 Rio Canyon Court, Un Las Vegas NV 89128 $60,165.37
60014318 Carter ,Philip 5 Beckett Street Danbury CT 6810 $95,837.27
60014319 Tyndall ,Dwight 3400 Tiemann Avenue Bronx NY 10467 $180,450.00
60014320 Krug ,Mark A. 220 Nottingham Drive West Jacksonville FL 32259 $97,865.86
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014307 Garibay ,Rachel 9.000 .250 8.750 .0400 8.710 10/01/2027
60014308 Cyr ,Jeanine K 8.625 .250 8.375 .0400 8.335 10/01/2027
60014309 Vosburgh ,Edward 8.250 .250 8.000 .0400 7.960 11/01/2027
60014310 Taniguchi ,Robbin 8.000 .250 7.750 .0400 7.710 09/01/2027
60014311 Villalobos ,Elba 8.625 .250 8.375 .0400 8.335 10/01/2027
60014312 Hillman ,Douglas R 8.875 .250 8.625 .0400 8.585 10/01/2027
60014313 Norris ,James 9.000 .250 8.750 .0400 8.710 10/01/2027
60014314 Ori ,Christoph 8.750 .250 8.500 .0400 8.460 10/01/2027
60014315 Diaz ,Arturo V. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014316 Teske ,Richard A 8.750 .250 8.500 .0400 8.460 10/01/2027
60014317 Kermani ,Abner M. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014318 Carter ,Philip 8.125 .250 7.875 .0400 7.835 10/01/2027
60014319 Tyndall ,Dwight 9.000 .250 8.750 .0400 8.710 11/01/2027
60014320 Krug ,Mark A. 8.375 .250 8.125 .0400 8.085 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014307 Garibay ,Rachel 268033 $591.40 11/01/1997 360
60014308 Cyr ,Jeanine K 268037 $466.67 11/01/1997 360
60014309 Vosburgh ,Edward 268038 $533.40 11/01/1997 360
60014310 Taniguchi ,Robbin 268047 $1,520.36 11/01/1997 360
60014311 Villalobos ,Elba 268056 $696.90 11/01/1997 360
60014312 Hillman ,Douglas R 268073 $675.50 11/01/1997 360
60014313 Norris ,James 268099 $1,327.63 11/01/1997 360
60014314 Ori ,Christoph 268100 $1,038.45 11/01/1997 360
60014315 Diaz ,Arturo V. 268104 $1,226.42 11/01/1997 360
60014316 Teske ,Richard A 268119 $906.28 12 11/01/1997 360
60014317 Kermani ,Abner M. 268159 $473.59 11/01/1997 360
60014318 Carter ,Philip 268160 $712.05 11/01/1997 360
60014319 Tyndall ,Dwight 268162 $1,451.94 2 11/01/1997 360
60014320 Krug ,Mark A. 268166 $745.26 11/01/1997 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>
60014307 Garibay ,Rachel $98,000.00 N
60014308 Cyr ,Jeanine K $160,000.00 N
60014309 Vosburgh ,Edward $184,000.00 N
60014310 Taniguchi ,Robbin $259,000.00 N
60014311 Villalobos ,Elba $112,000.00 N
60014312 Hillman ,Douglas R $113,000.00 N
60014313 Norris ,James $208,000.00 N
60014314 Ori ,Christoph $165,000.00 N
60014315 Diaz ,Arturo V. $240,000.00 N
60014316 Teske ,Richard A $128,000.00 N
60014317 Kermani ,Abner M. $86,000.00 N
60014318 Carter ,Philip $137,000.00 N
60014319 Tyndall ,Dwight $200,500.00 N
60014320 Krug ,Mark A. $130,741.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 41
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014321 Hornby ,John 665 Main Avenue Warwick RI 2886 $66,523.08
60014322 Duncan ,Donald Lo 2110 Yellowstone Street Ellensburg WA 98926 $169,002.71
60014323 Homko ,Edward P 3445 Honoapiilani Hwy. #8 Lahaina HI 96761 $131,170.49
60014324 Law ,Jason D 1016 North 2000 West Kaysville UT 84037 $174,888.41
60014325 Nicol ,Cathey A. 1456 East Tuckey Lane Phoenix AZ 85014 $79,298.39
60014326 Lopez ,Graciela 475 West 42 Street Hialeah FL 33012 $111,685.70
60014327 Bleakley ,William M 4100 North Cabrillo Highw Half Moon Bay CA 94019 $118,851.54
60014329 Bender ,Robert J. 317 Willow Avenue Hoboken NJ 7030 $136,000.00
60014330 Gherghel ,Augustin 917 South Texella Court Anaheim CA 92804 $149,904.35
60014331 Packham ,Sheryl L. 480 Blue Lakes Blvd Twin Falls ID 83301 $59,966.36
60014332 Williams ,B. J. 1530 N W Canyon Drive Redmond OR 97756 $75,113.15
60014333 Rontal ,Rik T. 120 East Branch Street Nipomo CA 93444 $73,957.42
60014335 Vetter ,Teresa M. 124 E Chapel Avenue Cherry Hill NJ 8034 $79,456.57
60014336 Levitt ,Jon 780 Lakeside Drive Baldwin NY 11510 $102,550.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014321 Hornby ,John 8.750 .250 8.500 .0400 8.460 10/01/2027
60014322 Duncan ,Donald Lo 8.750 .250 8.500 .0400 8.460 10/01/2027
60014323 Homko ,Edward P 8.500 .250 8.250 .0400 8.210 10/01/2027
60014324 Law ,Jason D 8.250 .250 8.000 .0400 7.960 10/01/2027
60014325 Nicol ,Cathey A. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014326 Lopez ,Graciela 8.750 .250 8.500 .0400 8.460 10/01/2027
60014327 Bleakley ,William M 8.375 .250 8.125 .0400 8.085 10/01/2027
60014329 Bender ,Robert J. 8.875 .250 8.625 .0400 8.585 11/01/2027
60014330 Gherghel ,Augustin 8.250 .250 8.000 .0400 7.960 10/01/2027
60014331 Packham ,Sheryl L. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014332 Williams ,B. J. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014333 Rontal ,Rik T. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014335 Vetter ,Teresa M. 9.000 .250 8.750 .0400 8.710 10/01/2027
60014336 Levitt ,Jon 9.000 .250 8.750 .0400 8.710 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014321 Hornby ,John 268176 $523.95 2 11/01/1997 360
60014322 Duncan ,Donald Lo 268177 $1,330.31 11/01/1997 360
60014323 Homko ,Edward P 268182 $1,009.20 11/01/1997 360
60014324 Law ,Jason D 268195 $1,314.72 11/01/1997 360
60014325 Nicol ,Cathey A. 268236 $596.51 11/01/1997 360
60014326 Lopez ,Graciela 268241 $879.14 11/01/1997 360
60014327 Bleakley ,William M 268243 $904.49 11/01/1997 360
60014329 Bender ,Robert J. 268324 $1,082.08 11/01/1997 360
60014330 Gherghel ,Augustin 268327 $1,126.90 11/01/1997 360
60014331 Packham ,Sheryl L. 268346 $477.39 11/01/1997 360
60014332 Williams ,B. J. 268349 $591.60 11/01/1997 360
60014333 Rontal ,Rik T. 268440 $582.16 11/01/1997 360
60014335 Vetter ,Teresa M. 268448 $639.68 11/01/1997 360
60014336 Levitt ,Jon 268474 $825.15 11/01/1997 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>
60014321 Hornby ,John $74,000.00 N
60014322 Duncan ,Donald Lo $225,500.00 N
60014323 Homko ,Edward P $175,000.00 N
60014324 Law ,Jason D $225,000.00 N
60014325 Nicol ,Cathey A. $106,000.00 N
60014326 Lopez ,Graciela $145,000.00 N
60014327 Bleakley ,William M $170,000.00 N
60014329 Bender ,Robert J. $170,000.00 N
60014330 Gherghel ,Augustin $200,000.00 N
60014331 Packham ,Sheryl L. $80,000.00 N
60014332 Williams ,B. J. $94,000.00 N
60014333 Rontal ,Rik T. $105,000.00 N
60014335 Vetter ,Teresa M. $106,000.00 N
60014336 Levitt ,Jon $146,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 42
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014337 Maceda ,Jesus 3215 S. W. 127th Avenue Miami FL 33175 $105,536.03
60014338 Kendall ,Jeannene 383 W 600 North American Fork UT 84003 $123,678.80
60014339 Lavine ,Stanley I Off Akoni Pule Hwy. Kapaau HI 96755 $179,890.96
60014342 Sierra ,Santos 119 East 16th Street Paterson NJ 7524 $98,000.00
60014343 Gasperini ,Carl 114 N. Bristol Drive Bloomingdale IL 60108 $172,395.50
60014346 Nedbalek ,Linda K 2730 West Monte Avenue Mesa AZ 85202 $86,938.60
60014348 Lim ,Basilio Y 1645 Cactus Drive Lancaster CA 93535 $141,432.20
60014349 Stryker ,David B. 1531 W Olive Street Taylorsville UT 84123 $89,881.86
60014350 Sagon ,Lawrence 238 Mahie Place Kihei HI 96753 $179,876.13
60014351 Blue ,Sahra 5701 Collins Avenue #909 Miami Beach FL 33140 $69,500.00
60014352 Blake ,Prudence 271 E 500 N Tetonia ID 83422 $115,000.00
60014353 Wilson ,Jack R. 5520 Pennsylvania Street Rock Island WA 98850 $67,158.23
60014354 Kandel ,Beverly 8521 Gloria Avenue North Hills CA 91343 $141,020.90
60014355 Thach ,Henry 17613 Ibex Avenue Artesia CA 90701 $137,419.37
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014337 Maceda ,Jesus 8.500 .250 8.250 .0400 8.210 10/01/2027
60014338 Kendall ,Jeannene 8.750 .250 8.500 .0400 8.460 10/01/2027
60014339 Lavine ,Stanley I 8.500 .250 8.250 .0400 8.210 10/01/2027
60014342 Sierra ,Santos 8.500 .250 8.250 .0400 8.210 11/01/2027
60014343 Gasperini ,Carl 8.500 .250 8.250 .0400 8.210 10/01/2027
60014346 Nedbalek ,Linda K 7.750 .250 7.500 .0400 7.460 10/01/2027
60014348 Lim ,Basilio Y 8.625 .250 8.375 .0400 8.335 09/01/2027
60014349 Stryker ,David B. 8.125 .250 7.875 .0400 7.835 10/01/2027
60014350 Sagon ,Lawrence 7.875 .250 7.625 .0400 7.585 10/01/2027
60014351 Blue ,Sahra 8.750 .250 8.500 .0400 8.460 11/01/2027
60014352 Blake ,Prudence 7.875 .250 7.625 .0400 7.585 11/01/2027
60014353 Wilson ,Jack R. 8.375 .250 8.125 .0400 8.085 10/01/2027
60014354 Kandel ,Beverly 8.875 .250 8.625 .0400 8.585 10/01/2027
60014355 Thach ,Henry 8.125 .250 7.875 .0400 7.835 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014337 Maceda ,Jesus 268482 $811.97 11/01/1997 360
60014338 Kendall ,Jeannene 268490 $973.54 11/01/1997 360
60014339 Lavine ,Stanley I 268491 $1,384.04 11/01/1997 360
60014342 Sierra ,Santos 268524 $753.54 11/01/1997 360
60014343 Gasperini ,Carl 268556 $1,326.38 11/01/1997 360
60014346 Nedbalek ,Linda K 268614 $623.28 11/01/1997 360
60014348 Lim ,Basilio Y 268623 $1,101.35 11/01/1997 360
60014349 Stryker ,David B. 268627 $668.25 11/01/1997 360
60014350 Sagon ,Lawrence 268632 $1,305.12 11/01/1997 360
60014351 Blue ,Sahra 268717 $546.76 11/01/1997 360
60014352 Blake ,Prudence 268739 $833.83 11/01/1997 360
60014353 Wilson ,Jack R. 268770 $510.77 11/01/1997 360
60014354 Kandel ,Beverly 268774 $1,122.65 12 11/01/1997 360
60014355 Thach ,Henry 268811 $1,021.68 11/01/1997 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>
60014337 Maceda ,Jesus $132,000.00 N
60014338 Kendall ,Jeannene $165,000.00 N
60014339 Lavine ,Stanley I $240,000.00 N
60014342 Sierra ,Santos $160,000.00 N
60014343 Gasperini ,Carl $230,000.00 N
60014346 Nedbalek ,Linda K $130,000.00 N
60014348 Lim ,Basilio Y $177,000.00 N
60014349 Stryker ,David B. $118,000.00 N
60014350 Sagon ,Lawrence $225,000.00 N
60014351 Blue ,Sahra $107,000.00 N
60014352 Blake ,Prudence $260,000.00 N
60014353 Wilson ,Jack R. $84,000.00 N
60014354 Kandel ,Beverly $157,000.00 N
60014355 Thach ,Henry $172,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 43
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014356 Cooper ,Stephen 200 West Cliff Drive #23 Santa Cruz CA 95060 $210,480.31
60014357 Howell ,Stuart D. 109 Western Court Santa Cruz CA 95060 $184,882.04
60014358 Macchia ,Trifone 17 Amato Mission Viejo CA 92692 $189,878.84
60014359 Hudson ,James R. 27885 S W 147th Avenue Sherwood OR 97140 $214,325.37
60014360 Brown ,Calvin C. 2568 Fordham Street Palo Alto CA 94303 $92,697.61
60014361 Papandrea ,Robert 979 Corte Augusta Camarillo CA 93010 $192,267.60
60014363 Alverson ,Marilyn J 5864 Country Trails Browns Valley CA 95918 $79,950.27
60014364 Nguyen ,Khanh Tro 1700 Magnolia Walk Court Norcross GA 30093 $112,433.57
60014365 Alexander ,Warren E 1000 Bobolink Avenue Eugene OR 97404 $103,039.13
60014367 Cherfas ,Leonid 6784 Fallon Lane Canal Wincheste OH 43110 $95,042.39
60014368 O'Flaherty ,Matthew 56 Baxter Street Boston MA 2127 $126,760.84
60014370 Peacocke ,Frank W. 10619 63rd Avenue Northwe Gig Harbor WA 98335 $155,907.90
60014371 Cox ,Wanda A. 304 West Bentrup Street Chandler AZ 85224 $199,575.15
60014372 Dillon ,Bonnie J. 10 Colony Drive North Caldwell NJ 7006 $139,001.82
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014356 Cooper ,Stephen 8.250 .250 8.000 .0400 7.960 10/01/2027
60014357 Howell ,Stuart D. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014358 Macchia ,Trifone 8.250 .250 8.000 .0400 7.960 10/01/2027
60014359 Hudson ,James R. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014360 Brown ,Calvin C. 8.375 .250 8.125 .0400 8.085 10/01/2017
60014361 Papandrea ,Robert 7.875 .250 7.625 .0400 7.585 10/01/2027
60014363 Alverson ,Marilyn J 8.375 .250 8.125 .0400 8.085 10/01/2027
60014364 Nguyen ,Khanh Tro 8.625 .250 8.375 .0400 8.335 10/01/2027
60014365 Alexander ,Warren E 8.625 .250 8.375 .0400 8.335 10/01/2027
60014367 Cherfas ,Leonid 8.500 .250 8.250 .0400 8.210 10/01/2027
60014368 O'Flaherty ,Matthew 9.000 .250 8.750 .0400 8.710 09/01/2027
60014370 Peacocke ,Frank W. 8.625 .250 8.375 .0400 8.335 10/01/2027
60014371 Cox ,Wanda A. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014372 Dillon ,Bonnie J. 7.750 .250 7.500 .0400 7.460 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014356 Cooper ,Stephen 268814 $1,583.29 11/01/1997 360
60014357 Howell ,Stuart D. 268821 $1,389.84 11/01/1997 360
60014358 Macchia ,Trifone 268858 $1,427.41 11/01/1997 360
60014359 Hudson ,James R. 268871 $1,612.22 11/01/1997 360
60014360 Brown ,Calvin C. 268886 $799.73 11/01/1997 240
60014361 Papandrea ,Robert 268890 $1,395.03 11/01/1997 360
60014363 Alverson ,Marilyn J 268903 $608.06 11/01/1997 360
60014364 Nguyen ,Khanh Tro 268906 $875.02 11/01/1997 360
60014365 Alexander ,Warren E 268917 $801.90 11/01/1997 360
60014367 Cherfas ,Leonid 268936 $731.24 11/01/1997 360
60014368 O'Flaherty ,Matthew 268976 $1,021.07 2 11/01/1997 360
60014370 Peacocke ,Frank W. 268990 $1,213.35 11/01/1997 360
60014371 Cox ,Wanda A. 269029 $1,589.70 7 11/01/1997 360
60014372 Dillon ,Bonnie J. 269035 $996.53 11/01/1997 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>
60014356 Cooper ,Stephen $281,000.00 N
60014357 Howell ,Stuart D. $285,000.00 N
60014358 Macchia ,Trifone $254,000.00 N
60014359 Hudson ,James R. $320,000.00 N
60014360 Brown ,Calvin C. $173,000.00 N
60014361 Papandrea ,Robert $240,500.00 N
60014363 Alverson ,Marilyn J $155,000.00 N
60014364 Nguyen ,Khanh Tro $150,000.00 N
60014365 Alexander ,Warren E $137,500.00 N
60014367 Cherfas ,Leonid $118,995.00 N
60014368 O'Flaherty ,Matthew $141,000.00 N
60014370 Peacocke ,Frank W. $240,000.00 N
60014371 Cox ,Wanda A. $222,000.00 N
60014372 Dillon ,Bonnie J. $214,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 44
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014373 Criaris ,Constance 6481 Zinnia Street Arvada CO 80004 $101,441.59
60014374 Walters ,Robin M 3707 Bathurst Avenue Bakersfield CA 93313 $143,837.94
60014375 Owens ,Robert E 9202 Fisk Road Richmond VA 23233 $78,913.36
60014376 Hoehn ,Randy Sco 2271 North Euclid Avenue Upland CA 91784 $154,791.29
60014377 Owens ,Robert E 12517 Hillgate Lane Richmond VA 23233 $124,363.47
60014378 Nauta ,Michael R 2913 Park Ave. Laporte CO 80535 $102,843.79
60014379 Cloyd ,Randolph 902 Jackson Drive Williamsburg VA 23185 $57,677.95
60014380 Menezes ,Kevin 148 Treble Cove Road Billerica MA 1862 $139,500.00
60014381 Murphy ,Jewel 933 Irvington Drive Eugene OR 97404 $69,917.03
60014382 Cohen ,Isaac 224 Governors Road Unit # Lakewood NJ 8701 $50,250.00
60014384 Alexander ,Anthony 312 13th Street Brooklyn NY 11215 $141,000.00
60014386 Emmitt ,David H. 4246 Lee Hill Drive Boulder CO 80302 $174,891.22
60014387 Granquist ,Duane C 26239 North 45th Place Phoenix AZ 85024 $152,914.22
60014388 Zahn ,Ronald B. 1889 W 29th Avenue Eugene OR 97405 $202,380.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014373 Criaris ,Constance 8.750 .250 8.500 .0400 8.460 10/01/2027
60014374 Walters ,Robin M 8.875 .250 8.625 .0400 8.585 10/01/2027
60014375 Owens ,Robert E 9.000 .250 8.750 .0400 8.710 10/01/2027
60014376 Hoehn ,Randy Sco 8.000 .250 7.750 .0400 7.710 10/01/2027
60014377 Owens ,Robert E 9.000 .250 8.750 .0400 8.710 10/01/2027
60014378 Nauta ,Michael R 9.000 .250 8.750 .0400 8.710 10/01/2027
60014379 Cloyd ,Randolph 8.375 .250 8.125 .0400 8.085 10/01/2027
60014380 Menezes ,Kevin 8.750 .250 8.500 .0400 8.460 11/01/2027
60014381 Murphy ,Jewel 8.625 .250 8.375 .0400 8.335 10/01/2027
60014382 Cohen ,Isaac 8.500 .250 8.250 .0400 8.210 11/01/2027
60014384 Alexander ,Anthony 8.125 .250 7.875 .0400 7.835 11/01/2027
60014386 Emmitt ,David H. 8.375 .250 8.125 .0400 8.085 10/01/2027
60014387 Granquist ,Duane C 8.875 .250 8.625 .0400 8.585 10/01/2027
60014388 Zahn ,Ronald B. 8.625 .250 8.375 .0400 8.335 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014373 Criaris ,Constance 269052 $798.51 11/01/1997 360
60014374 Walters ,Robin M 269104 $1,145.73 11/01/1997 360
60014375 Owens ,Robert E 269114 $635.66 2 11/01/1997 360
60014376 Hoehn ,Randy Sco 269117 $1,137.34 11/01/1997 360
60014377 Owens ,Robert E 269119 $1,001.76 5 11/01/1997 360
60014378 Nauta ,Michael R 269176 $827.96 11/01/1997 360
60014379 Cloyd ,Randolph 269179 $438.95 11/01/1997 360
60014380 Menezes ,Kevin 269218 $1,097.45 11/01/1997 360
60014381 Murphy ,Jewel 269224 $544.46 11/01/1997 360
60014382 Cohen ,Isaac 269225 $386.38 11/01/1997 360
60014384 Alexander ,Anthony 269249 $1,046.92 11/01/1997 360
60014386 Emmitt ,David H. 269270 $1,330.13 11/01/1997 360
60014387 Granquist ,Duane C 269280 $1,217.34 12 11/01/1997 360
60014388 Zahn ,Ronald B. 269298 $1,575.02 11/01/1997 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>
60014373 Criaris ,Constance $145,000.00 N
60014374 Walters ,Robin M $175,000.00 N
60014375 Owens ,Robert E $87,790.00 N
60014376 Hoehn ,Randy Sco $350,000.00 N
60014377 Owens ,Robert E $138,373.00 N
60014378 Nauta ,Michael R $147,000.00 N
60014379 Cloyd ,Randolph $77,000.00 N
60014380 Menezes ,Kevin $186,000.00 N
60014381 Murphy ,Jewel $162,000.00 N
60014382 Cohen ,Isaac $67,000.00 N
60014384 Alexander ,Anthony $210,000.00 N
60014386 Emmitt ,David H. $260,000.00 N
60014387 Granquist ,Duane C $170,000.00 N
60014388 Zahn ,Ronald B. $270,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 45
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014389 Baca ,Robin G. 1518 Spreading Oak Dr. Henderson NV 89014 $97,443.91
60014390 Tappen ,Charles 51 Kitchell Road Denville NJ 7834 $164,614.54
60014391 Spinks ,Tisa 71 Hackamore Road, West Edwards CO 81632 $179,885.22
60014392 Kitt ,Timothy N 15417-15421 South Washing Compton CA 90221 $135,834.64
60014393 Alcius ,Monexant 550 Northwest 147th Stree Miami FL 33168 $79,082.07
60014394 Ciambrone ,Ann A. 117 Cambridge Drive Port Orange FL 32127 $55,428.96
60014396 Cesarini ,Matthew 1311 Salinas Place #2 Santa Barbara CA 93103 $199,872.47
60014397 Hamilton - Phi,W. Kay 7208 Waldo Avenue El Cerrito CA 94530 $74,959.03
60014399 Conlon ,Heather E 8622 Cactus Wren Road Scottsdale AZ 85250 $206,125.06
60014400 Poper ,Valerie D 41989 Via Renate Temecula CA 92591 $86,947.30
60014401 Douskey ,Hazel M. 2 Wilton Acres Wilton CT 6897 $124,931.72
60014402 Wiltfang ,John K. 250 Cherokee Street Denver CO 80223 $91,500.00
60014404 Heller ,Marsha E 2219 21st Street Anacortes WA 98221 $173,747.31
60014405 Miller, Jr. ,Lloyd R. 9578 El Hill Road Memphis TN 38133 $154,288.24
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014389 Baca ,Robin G. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014390 Tappen ,Charles 8.875 .250 8.625 .0400 8.585 10/01/2027
60014391 Spinks ,Tisa 8.250 .250 8.000 .0400 7.960 10/01/2027
60014392 Kitt ,Timothy N 8.500 .250 8.250 .0400 8.210 10/01/2027
60014393 Alcius ,Monexant 7.500 .250 7.250 .0400 7.210 10/01/2027
60014394 Ciambrone ,Ann A. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014396 Cesarini ,Matthew 8.250 .250 8.000 .0400 7.960 10/01/2027
60014397 Hamilton - Phi,W. Kay 9.000 .250 8.750 .0400 8.710 10/01/2027
60014399 Conlon ,Heather E 8.500 .250 8.250 .0400 8.210 10/01/2027
60014400 Poper ,Valerie D 8.500 .250 8.250 .0400 8.210 10/01/2027
60014401 Douskey ,Hazel M. 9.000 .250 8.750 .0400 8.710 10/01/2027
60014402 Wiltfang ,John K. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014404 Heller ,Marsha E 7.625 .250 7.375 .0400 7.335 10/01/2027
60014405 Miller, Jr. ,Lloyd R. 7.625 .250 7.375 .0400 7.335 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014389 Baca ,Robin G. 269299 $767.03 11/01/1997 360
60014390 Tappen ,Charles 269320 $1,311.22 11/01/1997 360
60014391 Spinks ,Tisa 269322 $1,352.28 11/01/1997 360
60014392 Kitt ,Timothy N 269351 $1,045.72 11/01/1997 360
60014393 Alcius ,Monexant 269370 $553.78 7 11/01/1997 360
60014394 Ciambrone ,Ann A. 269372 $416.96 11/01/1997 360
60014396 Cesarini ,Matthew 269419 $1,502.53 11/01/1997 360
60014397 Hamilton - Phi,W. Kay 269423 $603.47 11/01/1997 360
60014399 Conlon ,Heather E 269464 $1,585.88 11/01/1997 360
60014400 Poper ,Valerie D 269529 $668.95 11/01/1997 360
60014401 Douskey ,Hazel M. 269543 $1,005.78 11/01/1997 360
60014402 Wiltfang ,John K. 269555 $703.56 11/01/1997 360
60014404 Heller ,Marsha E 269575 $1,231.57 11/01/1997 360
60014405 Miller, Jr. ,Lloyd R. 269577 $1,092.84 11/01/1997 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>
60014389 Baca ,Robin G. $130,000.00 N
60014390 Tappen ,Charles $206,000.00 N
60014391 Spinks ,Tisa $332,000.00 N
60014392 Kitt ,Timothy N $170,000.00 N
60014393 Alcius ,Monexant $88,000.00 N
60014394 Ciambrone ,Ann A. $74,000.00 N
60014396 Cesarini ,Matthew $250,000.00 N
60014397 Hamilton - Phi,W. Kay $135,000.00 N
60014399 Conlon ,Heather E $275,000.00 N
60014400 Poper ,Valerie D $113,500.00 N
60014401 Douskey ,Hazel M. $315,000.00 N
60014402 Wiltfang ,John K. $115,000.00 N
60014404 Heller ,Marsha E $217,500.00 N
60014405 Miller, Jr. ,Lloyd R. $193,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 46
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014406 Harris ,Richard L 206 Boothbay Street Henderson NV 89014 $87,340.90
60014407 Le ,Kim 2530 West Manley Avenue Santa Ana CA 92704 $123,603.34
60014409 Cacsire ,Susana 26 Martin Place Port Chester NY 10573 $143,784.39
60014410 Kindseth ,Richard O 12735 Nightingale Street Coon Rapids MN 55448 $185,368.48
60014411 Shope ,Michael 1837 Forest Dale Avenue Beavercreek OH 45432 $99,861.91
60014413 Foglia ,Bruno 30 Sea Gate Avenue Westhampton NY 11970 $210,865.46
60014414 Napier ,Pattie J 3920 Baltimore Somerset R Millersport OH 43046 $167,779.46
60014416 Mason ,Stephanie 7073 Elati Street Denver CO 80221 $60,000.00
60014417 Moran ,Robert 407 North Lincoln Street Burbank CA 91506 $173,486.44
60014418 Cohee ,Pamela J. 13534 Emiline Street Omaha NE 68138 $53,136.89
60014419 Boardman ,Frank E. 5201 North Dahl Drive Tacoma WA 98406 $113,600.00
60014420 Chavez ,Judith 5756 N. Rainbow Ave. Las Vegas NV 89130 $126,928.80
60014421 Choubin, Jr. ,Michail 17811 Road 24 Madera CA 93638 $66,500.00
60014422 Cox ,Edward D 9025 East Browning Avenue Clovis CA 93611 $169,808.68
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014406 Harris ,Richard L 8.375 .250 8.125 .0400 8.085 10/01/2027
60014407 Le ,Kim 8.625 .250 8.375 .0400 8.335 10/01/2027
60014409 Cacsire ,Susana 9.000 .250 8.750 .0400 8.710 10/01/2017
60014410 Kindseth ,Richard O 8.375 .250 8.125 .0400 8.085 10/01/2027
60014411 Shope ,Michael 7.875 .250 7.625 .0400 7.585 10/01/2027
60014413 Foglia ,Bruno 8.250 .250 8.000 .0400 7.960 10/01/2027
60014414 Napier ,Pattie J 8.125 .250 7.875 .0400 7.835 10/01/2027
60014416 Mason ,Stephanie 8.000 .250 7.750 .0400 7.710 11/01/2027
60014417 Moran ,Robert 8.125 .250 7.875 .0400 7.835 10/01/2027
60014418 Cohee ,Pamela J. 8.625 .250 8.375 .0400 8.335 10/01/2027
60014419 Boardman ,Frank E. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014420 Chavez ,Judith 8.875 .250 8.625 .0400 8.585 10/01/2027
60014421 Choubin, Jr. ,Michail 8.875 .250 8.625 .0400 8.585 11/01/2027
60014422 Cox ,Edward D 8.875 .250 8.625 .0400 8.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014406 Harris ,Richard L 269581 $664.69 11/01/1997 360
60014407 Le ,Kim 269593 $962.52 11/01/1997 360
60014409 Cacsire ,Susana 269623 $1,295.61 11/01/1997 240
60014410 Kindseth ,Richard O 269634 $1,410.69 11/01/1997 360
60014411 Shope ,Michael 269646 $725.07 11/01/1997 360
60014413 Foglia ,Bruno 269665 $1,585.17 7 11/01/1997 360
60014414 Napier ,Pattie J 269668 $1,247.40 11/01/1997 360
60014416 Mason ,Stephanie 269676 $440.26 11/01/1997 360
60014417 Moran ,Robert 269694 $1,288.98 11/01/1997 360
60014418 Cohee ,Pamela J. 269697 $413.82 11/01/1997 360
60014419 Boardman ,Frank E. 269698 $873.49 11/01/1997 360
60014420 Chavez ,Judith 269707 $1,010.47 11/01/1997 360
60014421 Choubin, Jr. ,Michail 269710 $529.10 5 11/01/1997 360
60014422 Cox ,Edward D 269722 $1,352.60 11/01/1997 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>
60014406 Harris ,Richard L $109,361.00 N
60014407 Le ,Kim $165,000.00 N
60014409 Cacsire ,Susana $180,000.00 N
60014410 Kindseth ,Richard O $232,000.00 N
60014411 Shope ,Michael $150,000.00 N
60014413 Foglia ,Bruno $250,000.00 N
60014414 Napier ,Pattie J $285,000.00 N
60014416 Mason ,Stephanie $107,500.00 N
60014417 Moran ,Robert $217,000.00 N
60014418 Cohee ,Pamela J. $76,000.00 N
60014419 Boardman ,Frank E. $142,000.00 N
60014420 Chavez ,Judith $158,900.00 N
60014421 Choubin, Jr. ,Michail $70,000.00 N
60014422 Cox ,Edward D $212,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 47
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014423 Wiegman ,Estefania 10575 Lyndora Norwalk CA 90650 $120,103.78
60014424 Swenson ,Scott 4029 Monarch Trails Wheatland CA 95692 $131,500.00
60014425 Fenley ,Scott D. 4751 Davenport Avenue Oakland CA 94619 $181,484.20
60014426 Green ,Joseph W 31253 Sw Chia Loop Wilsonville OR 97070 $143,917.15
60014427 Maglione ,Martin R 1905 Shipway Avenue Long Beach CA 90815 $114,841.20
60014428 Carrillo ,Robert O 1105 Jarrow Avenue Hacienda Height CA 91745 $124,859.32
60014429 Durand ,Irene O. 444 South Fraser Avenue Los Angeles CA 90022 $79,902.73
60014430 Hanks ,Yvonne Ca 1911 Southeast 176th Cour Vancouver WA 98683 $95,250.00
60014431 Langevin ,Theodore 33 High Street Seymour CT 6483 $66,414.91
60014432 Larsen ,Sonja D. 628 Northwest 80th Street Seattle WA 98117 $164,900.04
60014433 Lam ,Kim Ngoc 6817 Southeast 135th Aven Portland OR 97236 $131,176.42
60014436 Laspoumaderes ,Juan C 2233 Calas Drive #31 E Miami FL 33141 $55,924.59
60014437 Perlich-fay ,Elizabeth 203 Falcon Place Clayton CA 94517 $202,272.12
60014438 Zohar ,Rafael 6503 Mammoth Avenue Van Nuys CA 91401 $123,920.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014423 Wiegman ,Estefania 8.500 .250 8.250 .0400 8.210 10/01/2027
60014424 Swenson ,Scott 8.375 .250 8.125 .0400 8.085 11/01/2027
60014425 Fenley ,Scott D. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014426 Green ,Joseph W 8.750 .250 8.500 .0400 8.460 10/01/2027
60014427 Maglione ,Martin R 7.875 .250 7.625 .0400 7.585 10/01/2027
60014428 Carrillo ,Robert O 8.875 .250 8.625 .0400 8.585 10/01/2027
60014429 Durand ,Irene O. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014430 Hanks ,Yvonne Ca 8.250 .250 8.000 .0400 7.960 11/01/2027
60014431 Langevin ,Theodore 8.250 .250 8.000 .0400 7.960 10/01/2027
60014432 Larsen ,Sonja D. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014433 Lam ,Kim Ngoc 8.875 .250 8.625 .0400 8.585 10/01/2027
60014436 Laspoumaderes ,Juan C 8.000 .250 7.750 .0400 7.710 10/01/2027
60014437 Perlich-fay ,Elizabeth 8.875 .250 8.625 .0400 8.585 10/01/2027
60014438 Zohar ,Rafael 8.250 .250 8.000 .0400 7.960 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014423 Wiegman ,Estefania 269725 $924.62 11/01/1997 360
60014424 Swenson ,Scott 269731 $999.49 11/01/1997 360
60014425 Fenley ,Scott D. 269732 $1,364.30 11/01/1997 360
60014426 Green ,Joseph W 269757 $1,132.85 11/01/1997 360
60014427 Maglione ,Martin R 269760 $833.83 11/01/1997 360
60014428 Carrillo ,Robert O 269765 $994.56 11/01/1997 360
60014429 Durand ,Irene O. 269766 $615.13 11/01/1997 360
60014430 Hanks ,Yvonne Ca 269828 $715.58 11/01/1997 360
60014431 Langevin ,Theodore 269830 $499.59 11/01/1997 360
60014432 Larsen ,Sonja D. 269832 $1,268.71 11/01/1997 360
60014433 Lam ,Kim Ngoc 269836 $1,044.28 11/01/1997 360
60014436 Laspoumaderes ,Juan C 269914 $410.91 11/01/1997 360
60014437 Perlich-fay ,Elizabeth 269920 $1,611.18 11/01/1997 360
60014438 Zohar ,Rafael 269936 $931.57 11/01/1997 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>
60014423 Wiegman ,Estefania $210,000.00 N
60014424 Swenson ,Scott $175,500.00 N
60014425 Fenley ,Scott D. $227,000.00 N
60014426 Green ,Joseph W $180,000.00 N
60014427 Maglione ,Martin R $197,000.00 N
60014428 Carrillo ,Robert O $175,000.00 N
60014429 Durand ,Irene O. $100,000.00 N
60014430 Hanks ,Yvonne Ca $127,000.00 N
60014431 Langevin ,Theodore $106,000.00 N
60014432 Larsen ,Sonja D. $220,000.00 N
60014433 Lam ,Kim Ngoc $175,000.00 N
60014436 Laspoumaderes ,Juan C $70,000.00 N
60014437 Perlich-fay ,Elizabeth $270,000.00 N
60014438 Zohar ,Rafael $155,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 48
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014439 Douglas ,Robert R. 5753 SE Pueblo Street Hillsboro OR 97123 $104,636.58
60014440 Elhawwash ,Nabil 22835 Van Buren Street Grand Terrace CA 92313 $119,919.48
60014442 Niece ,Bill 12485 Nelson Drive Auburn CA 95603 $165,548.47
60014443 Madson ,Edward A 31A & B West Wetmore Road Tucson AZ 85705 $81,949.03
60014444 Barraza ,Carlos G 11 Gold Crest Court Pittsburg CA 94565 $141,186.74
60014446 Madson ,Edward A 37a & B West Wetmore Road Tucson AZ 85705 $81,949.03
60014447 Gobuty ,Vyvyan K 10916 Densmore Avenue Granada Hills CA 91344 $92,143.47
60014448 Madson ,Edward A 39a & B West Wetmore Road Tucson AZ 85705 $53,963.77
60014449 Madson ,Edward A 33 A & B Wetmore Road Tucson AZ 85705 $81,949.03
60014450 Maher ,Dr. John 2233 West 21st Avenue Apache Junction AZ 85220 $68,316.83
60014452 Jenkins ,Reed M. 15100 North 86th Lane Peoria AZ 85381 $100,742.01
60014453 Shemel ,Karine 22 West 15th Street, Unit New York NY 10011 $139,915.19
60014455 Black ,Twain K. 2212 South 233rd Avenue Higley AZ 85236 $116,119.17
60014457 Cockroft ,Dean R 78-6806 Makenawai Street Kailua Kona HI 96740 $205,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014439 Douglas ,Robert R. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014440 Elhawwash ,Nabil 8.000 .250 7.750 .0400 7.710 10/01/2027
60014442 Niece ,Bill 8.500 .250 8.250 .0400 8.210 10/01/2027
60014443 Madson ,Edward A 8.375 .250 8.125 .0400 8.085 10/01/2027
60014444 Barraza ,Carlos G 8.750 .250 8.500 .0400 8.460 10/01/2027
60014446 Madson ,Edward A 8.375 .250 8.125 .0400 8.085 10/01/2027
60014447 Gobuty ,Vyvyan K 8.750 .250 8.500 .0400 8.460 10/01/2027
60014448 Madson ,Edward A 8.000 .250 7.750 .0400 7.710 10/01/2027
60014449 Madson ,Edward A 8.375 .250 8.125 .0400 8.085 10/01/2027
60014450 Maher ,Dr. John 8.500 .250 8.250 .0400 8.210 10/01/2027
60014452 Jenkins ,Reed M. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014453 Shemel ,Karine 8.500 .250 8.250 .0400 8.210 10/01/2027
60014455 Black ,Twain K. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014457 Cockroft ,Dean R 8.000 .250 7.750 .0400 7.710 11/01/2017
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014439 Douglas ,Robert R. 269970 $805.05 11/01/1997 360
60014440 Elhawwash ,Nabil 269971 $880.52 11/01/1997 360
60014442 Niece ,Bill 269981 $1,274.47 11/01/1997 360
60014443 Madson ,Edward A 269997 $623.26 11/01/1997 360
60014444 Barraza ,Carlos G 270004 $1,112.01 11/01/1997 360
60014446 Madson ,Edward A 270015 $623.26 11/01/1997 360
60014447 Gobuty ,Vyvyan K 270020 $725.73 11/01/1997 360
60014448 Madson ,Edward A 270031 $396.23 11/01/1997 360
60014449 Madson ,Edward A 270035 $623.26 11/01/1997 360
60014450 Maher ,Dr. John 270046 $525.94 2 11/01/1997 360
60014452 Jenkins ,Reed M. 270062 $792.99 11/01/1997 360
60014453 Shemel ,Karine 270072 $1,076.48 11/01/1997 360
60014455 Black ,Twain K. 270087 $924.94 11/01/1997 360
60014457 Cockroft ,Dean R 270105 $1,714.70 11/01/1997 240
<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>
60014439 Douglas ,Robert R. $130,900.00 N
60014440 Elhawwash ,Nabil $150,000.00 N
60014442 Niece ,Bill $221,000.00 N
60014443 Madson ,Edward A $115,000.00 N
60014444 Barraza ,Carlos G $188,475.00 N
60014446 Madson ,Edward A $113,000.00 N
60014447 Gobuty ,Vyvyan K $123,000.00 N
60014448 Madson ,Edward A $115,000.00 N
60014449 Madson ,Edward A $115,000.00 N
60014450 Maher ,Dr. John $76,033.00 N
60014452 Jenkins ,Reed M. $126,000.00 N
60014453 Shemel ,Karine $200,000.00 N
60014455 Black ,Twain K. $155,000.00 N
60014457 Cockroft ,Dean R $425,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 49
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014458 Sanchez ,Luis A. 149 Wallington Avenue Wallington NJ 7057 $115,433.55
60014460 Aoki ,John 1512 Piikoi Street #104 Honolulu HI 96822 $146,617.76
60014461 Tum ,Peth 4963 Grand Avenue Montclair CA 91763 $139,825.34
60014462 Ursone ,Gerald J. B-8 Hilton Head Beach & T Hilton Head Isl SC 29928 $50,538.48
60014463 Nelson ,Timothy 253 East Sherri Drive Gilbert AZ 85296 $125,469.94
60014464 Torrence I I I,John 241 South Violet Lane Orange CA 92869 $205,462.05
60014465 Burlison ,Andrew J. 33080 Pikes Peak Drive Greeley CO 80631 $124,720.42
60014466 Roesing ,Gary A. 133 Chase Avenue Ivyland PA 18974 $157,097.17
60014467 Canevari ,John C 85 Beamer Street Woodland CA 95695 $74,859.09
60014468 Manion-copley ,Juliana 1034 Front Street, Apt. N Lahaina HI 96761 $63,003.93
60014469 Grunstein ,Robert 2994-2996 Reynard Way San Diego CA 92103 $65,955.72
60014471 Williams, Jr. ,Charles L 2173 Fir Drive Arnold CA 95223 $84,638.74
60014472 Restaino ,Nicole 5108 South Lowe Chicago IL 60609 $55,800.00
60014474 Puccio ,Robert J. 11582 Depew Court Broomfield CO 80020 $106,332.15
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014458 Sanchez ,Luis A. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014460 Aoki ,John 8.875 .250 8.625 .0400 8.585 10/01/2027
60014461 Tum ,Peth 8.375 .250 8.125 .0400 8.085 10/01/2027
60014462 Ursone ,Gerald J. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014463 Nelson ,Timothy 8.250 .250 8.000 .0400 7.960 10/01/2027
60014464 Torrence I I I,John 8.000 .250 7.750 .0400 7.710 10/01/2027
60014465 Burlison ,Andrew J. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014466 Roesing ,Gary A. 8.125 .250 7.875 .0400 7.835 10/01/2027
60014467 Canevari ,John C 9.000 .250 8.750 .0400 8.710 10/01/2027
60014468 Manion-copley ,Juliana 8.750 .250 8.500 .0400 8.460 10/01/2017
60014469 Grunstein ,Robert 8.000 .250 7.750 .0400 7.710 10/01/2027
60014471 Williams, Jr. ,Charles L 8.125 .250 7.875 .0400 7.835 10/01/2027
60014472 Restaino ,Nicole 9.000 .250 8.750 .0400 8.710 11/01/2027
60014474 Puccio ,Robert J. 8.250 .250 8.000 .0400 7.960 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014458 Sanchez ,Luis A. 270126 $908.64 11/01/1997 360
60014460 Aoki ,John 270139 $1,167.21 7 11/01/1997 360
60014461 Tum ,Peth 270157 $1,064.11 11/01/1997 360
60014462 Ursone ,Gerald J. 270161 $389.07 11/01/1997 360
60014463 Nelson ,Timothy 270167 $943.22 12 11/01/1997 360
60014464 Torrence I I I,John 270193 $1,508.62 11/01/1997 360
60014465 Burlison ,Andrew J. 270194 $937.58 11/01/1997 360
60014466 Roesing ,Gary A. 270211 $1,167.21 11/01/1997 360
60014467 Canevari ,John C 270215 $602.66 11/01/1997 360
60014468 Manion-copley ,Juliana 270234 $558.51 11/01/1997 240
60014469 Grunstein ,Robert 270254 $484.28 11/01/1997 360
60014471 Williams, Jr. ,Charles L 270303 $629.27 11/01/1997 360
60014472 Restaino ,Nicole 270333 $448.98 1 11/01/1997 360
60014474 Puccio ,Robert J. 270336 $799.35 11/01/1997 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>
60014458 Sanchez ,Luis A. $154,000.00 N
60014460 Aoki ,John $163,000.00 N
60014461 Tum ,Peth $189,900.00 N
60014462 Ursone ,Gerald J. $67,500.00 N
60014463 Nelson ,Timothy $139,500.00 N
60014464 Torrence I I I,John $257,000.00 N
60014465 Burlison ,Andrew J. $156,000.00 N
60014466 Roesing ,Gary A. $196,500.00 N
60014467 Canevari ,John C $107,000.00 N
60014468 Manion-copley ,Juliana $79,000.00 N
60014469 Grunstein ,Robert $88,000.00 N
60014471 Williams, Jr. ,Charles L $120,000.00 N
60014472 Restaino ,Nicole $62,000.00 N
60014474 Puccio ,Robert J. $133,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 50
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014475 Srulovitz ,Barbara A 5668 Oakgrove Avenue San Francisco CA 94168 $174,758.35
60014476 Doyle ,Steve H 3313 West Willow Avenue Phoenix AZ 85029 $59,830.81
60014477 Kynett ,Leslie J. 171 Mill Street Genoa NV 89411 $118,858.98
60014478 Brannon ,Charles E 1439 Ashstone Street Germantown TN 38138 $79,955.15
60014479 Honea ,Ronald C. 32788 Gregory Place Lake Elsinore CA 92530 $62,136.06
60014481 Walker ,Charles G 1142 W Morning View Drive Tucson AZ 85704 $131,077.70
60014482 Furlow ,Donald G 4007 North 152 Avenue Omaha NE 68164 $192,591.97
60014483 Quintana ,Stephen C 3715 Thaxton S E Albuquerque NM 87111 $132,923.47
60014484 Jew ,Frederick 3900 Lake Avenue New Prague MN 56071 $187,288.98
60014485 Strauss ,Harold R 14 Sandpiper Court Smithtown NY 11787 $211,748.76
60014486 Westrope, Jr. ,William B 19832 North 90th Drive Peoria AZ 85382 $59,881.45
60014487 O' Donnell ,Rory 2401 N Nebraska Chandler AZ 85224 $69,155.87
60014488 Dorcas ,Dale 2001 G Street Bellingham WA 98225 $140,250.00
60014489 Hopkins ,Richard E 300 Pine Street Nunn CO 80648 $66,961.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014475 Srulovitz ,Barbara A 7.875 .250 7.625 .0400 7.585 10/01/2027
60014476 Doyle ,Steve H 8.750 .250 8.500 .0400 8.460 10/01/2027
60014477 Kynett ,Leslie J. 8.625 .250 8.375 .0400 8.335 10/01/2027
60014478 Brannon ,Charles E 8.875 .250 8.625 .0400 8.585 10/01/2027
60014479 Honea ,Ronald C. 8.500 .250 8.250 .0400 8.210 09/01/2027
60014481 Walker ,Charles G 8.125 .250 7.875 .0400 7.835 09/01/2027
60014482 Furlow ,Donald G 8.875 .250 8.625 .0400 8.585 10/01/2027
60014483 Quintana ,Stephen C 8.750 .250 8.500 .0400 8.460 10/01/2027
60014484 Jew ,Frederick 8.875 .250 8.625 .0400 8.585 10/01/2027
60014485 Strauss ,Harold R 8.625 .250 8.375 .0400 8.335 10/01/2027
60014486 Westrope, Jr. ,William B 8.125 .250 7.875 .0400 7.835 08/01/2027
60014487 O' Donnell ,Rory 8.250 .250 8.000 .0400 7.960 10/01/2027
60014488 Dorcas ,Dale 7.875 .250 7.625 .0400 7.585 11/01/2027
60014489 Hopkins ,Richard E 8.750 .250 8.500 .0400 8.460 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014475 Srulovitz ,Barbara A 270343 $1,268.87 11/01/1997 360
60014476 Doyle ,Steve H 270347 $471.24 11/01/1997 360
60014477 Kynett ,Leslie J. 270351 $925.57 11/01/1997 360
60014478 Brannon ,Charles E 270357 $636.52 11/01/1997 360
60014479 Honea ,Ronald C. 270362 $478.65 11/01/1997 360
60014481 Walker ,Charles G 270370 $974.53 11/01/1997 360
60014482 Furlow ,Donald G 270380 $1,533.21 11/01/1997 360
60014483 Quintana ,Stephen C 270385 $1,046.32 12 11/01/1997 360
60014484 Jew ,Frederick 270423 $1,491.84 11/01/1997 360
60014485 Strauss ,Harold R 270426 $1,648.92 11/01/1997 360
60014486 Westrope, Jr. ,William B 270448 $445.50 11/01/1997 360
60014487 O' Donnell ,Rory 270471 $519.88 2 11/01/1997 360
60014488 Dorcas ,Dale 270473 $1,016.91 11/01/1997 360
60014489 Hopkins ,Richard E 270474 $527.09 11/01/1997 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>
60014475 Srulovitz ,Barbara A $330,000.00 N
60014476 Doyle ,Steve H $74,900.00 N
60014477 Kynett ,Leslie J. $170,000.00 N
60014478 Brannon ,Charles E $179,900.00 N
60014479 Honea ,Ronald C. $83,000.00 N
60014481 Walker ,Charles G $175,000.00 N
60014482 Furlow ,Donald G $256,950.00 N
60014483 Quintana ,Stephen C $140,000.00 N
60014484 Jew ,Frederick $250,000.00 N
60014485 Strauss ,Harold R $265,000.00 N
60014486 Westrope, Jr. ,William B $117,850.00 N
60014487 O' Donnell ,Rory $76,894.00 N
60014488 Dorcas ,Dale $187,000.00 N
60014489 Hopkins ,Richard E $99,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 51
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014490 Shea ,Larry J. 9990 Hahn Road Calhan CO 80808 $110,358.59
60014491 Carrera ,Andrew A. 10060 E. Morrill Way Tucson AZ 85749 $84,899.28
60014492 Lee ,Gary L. 5153 Dreamgarden Loop Roseville CA 95747 $96,250.00
60014493 Krupnick ,Howard 5909 Graves Avenue Encino CA 91316 $130,000.00
60014494 Johnson ,Georgia A 3812 Debussy Way North Las Vegas NV 89030 $86,347.66
60014495 Martin ,Winifred 16215 West Tonto Street Goodyear AZ 85338 $89,451.81
60014497 Martinez ,Luis R. 1744 Appian Way Montebello CA 90640 $144,905.15
60014500 Chase ,Michael G 4808 Westfield Drive Austin TX 78731 $65,915.53
60014501 Liljeberg ,Lisa Mari 45-3466 Kawila Street #c Honokaa HI 96727 $140,000.00
60014502 Masani ,Nooruddin 932 Berkshire Drive Westbury NY 11590 $200,000.00
60014503 Indiero ,Frank N. 8760 N. W. 153 Terrace Miami FL 33016 $123,678.79
60014504 Basso ,John 10 Terrace Blvd. New Hyde Park NY 11040 $147,000.00
60014505 Bastedenbeck ,Robert 18565 E. Greenwood Place Aurora CO 80013 $164,689.42
60014506 Du Charme ,Cherie A 3301 Kittery Court Fort Collins CO 80526 $84,297.38
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014490 Shea ,Larry J. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014491 Carrera ,Andrew A. 8.625 .250 8.375 .0400 8.335 10/01/2027
60014492 Lee ,Gary L. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014493 Krupnick ,Howard 7.750 .250 7.500 .0400 7.460 11/01/2027
60014494 Johnson ,Georgia A 8.500 .250 8.250 .0400 8.210 10/01/2027
60014495 Martin ,Winifred 9.000 .250 8.750 .0400 8.710 10/01/2027
60014497 Martinez ,Luis R. 8.125 .250 7.875 .0400 7.835 10/01/2027
60014500 Chase ,Michael G 8.250 .250 8.000 .0400 7.960 10/01/2027
60014501 Liljeberg ,Lisa Mari 8.750 .250 8.500 .0400 8.460 11/01/2027
60014502 Masani ,Nooruddin 8.750 .250 8.500 .0400 8.460 11/01/2027
60014503 Indiero ,Frank N. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014504 Basso ,John 8.875 .250 8.625 .0400 8.585 11/01/2027
60014505 Bastedenbeck ,Robert 8.000 .250 7.750 .0400 7.710 10/01/2027
60014506 Du Charme ,Cherie A 8.500 .250 8.250 .0400 8.210 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014490 Shea ,Larry J. 270487 $830.15 11/01/1997 360
60014491 Carrera ,Andrew A. 270540 $661.12 11/01/1997 360
60014492 Lee ,Gary L. 270554 $740.08 11/01/1997 360
60014493 Krupnick ,Howard 270582 $931.34 11/01/1997 360
60014494 Johnson ,Georgia A 270586 $664.34 11/01/1997 360
60014495 Martin ,Winifred 270610 $720.54 11/01/1997 360
60014497 Martinez ,Luis R. 270620 $1,076.62 11/01/1997 360
60014500 Chase ,Michael G 270656 $495.84 11/01/1997 360
60014501 Liljeberg ,Lisa Mari 270665 $1,101.38 11/01/1997 360
60014502 Masani ,Nooruddin 270669 $1,573.40 11/01/1997 360
60014503 Indiero ,Frank N. 270684 $973.55 11/01/1997 360
60014504 Basso ,John 270690 $1,169.60 11/01/1997 360
60014505 Bastedenbeck ,Robert 270723 $1,209.25 11/01/1997 360
60014506 Du Charme ,Cherie A 270726 $648.96 11/01/1997 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>
60014490 Shea ,Larry J. $140,000.00 N
60014491 Carrera ,Andrew A. $252,000.00 N
60014492 Lee ,Gary L. $125,500.00 N
60014493 Krupnick ,Howard $230,000.00 N
60014494 Johnson ,Georgia A $108,000.00 N
60014495 Martin ,Winifred $111,940.00 N
60014497 Martinez ,Luis R. $225,000.00 N
60014500 Chase ,Michael G $102,000.00 N
60014501 Liljeberg ,Lisa Mari $175,000.00 N
60014502 Masani ,Nooruddin $267,000.00 N
60014503 Indiero ,Frank N. $165,000.00 N
60014504 Basso ,John $210,000.00 N
60014505 Bastedenbeck ,Robert $206,000.00 N
60014506 Du Charme ,Cherie A $105,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 52
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014507 Claycamp ,Robert D. 1111 West Wagoner Road Phoenix AZ 85023 $105,336.15
60014508 Yakubov ,Gavrik 141-22 81st Avenue Briarwood NY 11435 $207,000.00
60014509 Foster ,Catherine 4401 Tuskeegee Place Clinton MD 20735 $168,647.76
60014510 Lyman ,Roger 70 Hauoli Street Unit #20 Wailuku HI 96793 $142,322.24
60014511 Huntzinger ,Marie 1604 Ferndale Avenue Abington PA 19001 $64,889.87
60014513 Sacco ,Patricia 3075 Butterfly Lane Shasta Lake CA 96003 $99,884.50
60014514 Lafrance ,Jeffrey E 94 Palisade Ave Emerson NJ 7630 $131,044.50
60014518 Galbraith ,Joel D. C 612 East 600 North Springville UT 84663 $130,264.73
60014519 Howe ,John B. 4 Hermosa Drive South Easton MA 2375 $127,922.46
60014520 Hernandez ,Lino 800 Las Lomas La Habra CA 90631 $99,881.50
60014521 Pugh ,Stephen 10008 Wilton Oaks Court Elk Grove CA 95624 $153,654.44
60014522 Fisher ,Dan 1438 West Sapphire Court St George UT 84770 $151,916.97
60014523 Crigler ,Scharlett 19244 East Campton Street West Covina (A CA 91792 $99,878.39
60014524 Lin ,Seng C. 1115 South Cordova Street Alhambra CA 91801 $124,844.07
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014507 Claycamp ,Robert D. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014508 Yakubov ,Gavrik 8.875 .250 8.625 .0400 8.585 11/01/2027
60014509 Foster ,Catherine 8.500 .250 8.250 .0400 8.210 10/01/2027
60014510 Lyman ,Roger 8.375 .250 8.125 .0400 8.085 10/01/2027
60014511 Huntzinger ,Marie 8.875 .250 8.625 .0400 8.585 09/01/2027
60014513 Sacco ,Patricia 8.750 .250 8.500 .0400 8.460 10/01/2027
60014514 Lafrance ,Jeffrey E 8.625 .250 8.375 .0400 8.335 10/01/2027
60014518 Galbraith ,Joel D. C 8.125 .250 7.875 .0400 7.835 10/01/2027
60014519 Howe ,John B. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014520 Hernandez ,Lino 8.625 .250 8.375 .0400 8.335 10/01/2027
60014521 Pugh ,Stephen 8.375 .250 8.125 .0400 8.085 10/01/2027
60014522 Fisher ,Dan 9.000 .250 8.750 .0400 8.710 10/01/2027
60014523 Crigler ,Scharlett 8.500 .250 8.250 .0400 8.210 10/01/2027
60014524 Lin ,Seng C. 8.375 .250 8.125 .0400 8.085 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014507 Claycamp ,Robert D. 270734 $810.43 15 11/01/1997 360
60014508 Yakubov ,Gavrik 270752 $1,646.99 1 11/01/1997 360
60014509 Foster ,Catherine 270777 $1,297.55 11/01/1997 360
60014510 Lyman ,Roger 270791 $1,083.10 11/01/1997 360
60014511 Huntzinger ,Marie 270802 $517.17 11/01/1997 360
60014513 Sacco ,Patricia 270853 $786.71 11/01/1997 360
60014514 Lafrance ,Jeffrey E 270865 $1,020.47 11/01/1997 360
60014518 Galbraith ,Joel D. C 270877 $967.85 5 11/01/1997 360
60014519 Howe ,John B. 270879 $984.21 11/01/1997 360
60014520 Hernandez ,Lino 270880 $777.79 11/01/1997 360
60014521 Pugh ,Stephen 270882 $1,168.61 11/01/1997 360
60014522 Fisher ,Dan 270887 $1,223.03 11/01/1997 360
60014523 Crigler ,Scharlett 270902 $768.92 11/01/1997 360
60014524 Lin ,Seng C. 270939 $950.09 11/01/1997 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>
60014507 Claycamp ,Robert D. $110,983.00 N
60014508 Yakubov ,Gavrik $230,000.00 N
60014509 Foster ,Catherine $225,000.00 N
60014510 Lyman ,Roger $190,000.00 N
60014511 Huntzinger ,Marie $102,000.00 N
60014513 Sacco ,Patricia $153,000.00 N
60014514 Lafrance ,Jeffrey E $164,000.00 N
60014518 Galbraith ,Joel D. C $144,875.00 N
60014519 Howe ,John B. $160,000.00 N
60014520 Hernandez ,Lino $155,000.00 N
60014521 Pugh ,Stephen $205,000.00 N
60014522 Fisher ,Dan $190,000.00 N
60014523 Crigler ,Scharlett $143,000.00 N
60014524 Lin ,Seng C. $195,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 53
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014525 Royes ,Junior A. 958 West Grand Street Elizabeth NJ 7208 $188,770.19
60014526 Medovyy ,Dmitriy 1745 Camino Palmero Stree Los Angeles CA 90046 $100,339.18
60014527 Machuca ,Rosario F 904 Cordova Drive Chula Vista CA 91910 $153,349.62
60014528 Mc Culley ,Robert M. 317 Parkway Circle North Fort Collins CO 80525 $116,919.48
60014529 Joy ,Geoffry M 2045 4th Street 207B Santa Monica CA 90405 $103,928.43
60014530 Ross ,Jamie F 209 Garth Road Scarsdale NY 10583 $72,168.70
60014531 Hickey ,Robert P. 243 Edwards Place Yonkers NY 10703 $101,500.00
60014532 Root ,Ronald A. 120 Orchard Wood Lane Garberville CA 95542 $109,933.37
60014533 Clarke ,Suzanne E 7587 Hazard Center Drive, San Diego CA 92108 $75,000.00
60014534 Kowalewski ,Chester 4705 N 108th Circle Omaha NE 68164 $49,971.96
60014535 Afonso ,Louis A. 3324 Main Street Bridgeport CT 6606 $77,947.66
60014537 Weinstein ,Neil A. 170 Park Avenue New Hyde Park NY 11040 $181,390.05
60014538 Marsh ,Patricia 76-6187 Lehua Rd Kailua Kona HI 96740 $134,022.84
60014539 Barrow ,Greg W. 56 Sitzmark Circle Breckenridge CO 80424 $149,909.13
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014525 Royes ,Junior A. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014526 Medovyy ,Dmitriy 8.500 .250 8.250 .0400 8.210 10/01/2027
60014527 Machuca ,Rosario F 8.125 .250 7.875 .0400 7.835 10/01/2027
60014528 Mc Culley ,Robert M. 7.875 .250 7.625 .0400 7.585 10/01/2027
60014529 Joy ,Geoffry M 7.875 .250 7.625 .0400 7.585 10/01/2027
60014530 Ross ,Jamie F 8.875 .250 8.625 .0400 8.585 10/01/2027
60014531 Hickey ,Robert P. 8.875 .250 8.625 .0400 8.585 11/01/2027
60014532 Root ,Ronald A. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014533 Clarke ,Suzanne E 8.125 .250 7.875 .0400 7.835 11/01/2027
60014534 Kowalewski ,Chester 8.875 .250 8.625 .0400 8.585 10/01/2027
60014535 Afonso ,Louis A. 8.000 .250 7.750 .0400 7.710 10/01/2027
60014537 Weinstein ,Neil A. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014538 Marsh ,Patricia 8.750 .250 8.500 .0400 8.460 10/01/2027
60014539 Barrow ,Greg W. 8.500 .250 8.250 .0400 8.210 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014525 Royes ,Junior A. 270944 $1,453.25 1 11/01/1997 360
60014526 Medovyy ,Dmitriy 270946 $771.99 11/01/1997 360
60014527 Machuca ,Rosario F 270961 $1,139.36 11/01/1997 360
60014528 Mc Culley ,Robert M. 270962 $848.33 11/01/1997 360
60014529 Joy ,Geoffry M 270972 $754.07 11/01/1997 360
60014530 Ross ,Jamie F 270988 $574.85 7 11/01/1997 360
60014531 Hickey ,Robert P. 270996 $807.58 11/01/1997 360
60014532 Root ,Ronald A. 271004 $845.80 11/01/1997 360
60014533 Clarke ,Suzanne E 271016 $556.87 11/01/1997 360
60014534 Kowalewski ,Chester 271018 $397.83 11/01/1997 360
60014535 Afonso ,Louis A. 271022 $572.34 11/01/1997 360
60014537 Weinstein ,Neil A. 271032 $1,395.58 11/01/1997 360
60014538 Marsh ,Patricia 271034 $1,054.97 11/01/1997 360
60014539 Barrow ,Greg W. 271045 $1,153.37 11/01/1997 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>
60014525 Royes ,Junior A. $210,000.00 N
60014526 Medovyy ,Dmitriy $125,500.00 N
60014527 Machuca ,Rosario F $191,849.00 N
60014528 Mc Culley ,Robert M. $182,000.00 N
60014529 Joy ,Geoffry M $130,000.00 N
60014530 Ross ,Jamie F $85,000.00 N
60014531 Hickey ,Robert P. $145,000.00 N
60014532 Root ,Ronald A. $287,000.00 N
60014533 Clarke ,Suzanne E $191,657.00 N
60014534 Kowalewski ,Chester $116,000.00 N
60014535 Afonso ,Louis A. $98,500.00 N
60014537 Weinstein ,Neil A. $242,000.00 N
60014538 Marsh ,Patricia $180,000.00 N
60014539 Barrow ,Greg W. $229,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 54
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014542 Heiner ,Gary 89 Columbine Circle 3 Avon CO 81620 $151,098.55
60014543 Cordts ,John N. 4043 Cooke Drive Colorado Spring CO 80911 $66,962.44
60014544 Shelton ,Jack 5192 Emiline Drive San Jose CA 95124 $203,856.02
60014545 Martinez ,Orlinda E 5404 East 62nd Way Commerce City CO 80022 $51,971.60
60014546 Banks ,Robert W. 1382 So. Tennyson St. Denver CO 80219 $57,365.22
60014547 Ferraiolo Sr. ,Arthur 161 South Montowese Stree Branford CT 6405 $109,866.26
60014548 De Santis, Jr.,Frank J. 336 Lake Resort Road Lake Arrowhead CA 92352 $204,000.00
60014549 Marx ,James P. 317 Longwood Drive Kennett Townshi PA 19357 $151,805.59
60014551 Basior ,Barry 702 22nd Street Union City NJ 7087 $119,000.00
60014552 Crumpler ,James W. 6633 W. Ocotillo Rd. Glendale AZ 85301 $52,439.36
60014553 Crumpler ,James W. 6609 W. Ocotillo Road Glendale AZ 85301 $54,437.07
60014554 Crumpler ,James W. 6617 W. Ocotillo Road Glendale AZ 85301 $52,439.36
60014555 Knapton ,Merleene 2138 North Burrell Avenue Simi Valley CA 93063 $140,721.06
60014556 Cole ,Patrick M 555 North Center Street American Fork UT 84003 $81,658.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014542 Heiner ,Gary 8.000 .250 7.750 .0400 7.710 10/01/2027
60014543 Cordts ,John N. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014544 Shelton ,Jack 7.750 .250 7.500 .0400 7.460 10/01/2027
60014545 Martinez ,Orlinda E 9.000 .250 8.750 .0400 8.710 10/01/2027
60014546 Banks ,Robert W. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014547 Ferraiolo Sr. ,Arthur 8.500 .250 8.250 .0400 8.210 10/01/2027
60014548 De Santis, Jr.,Frank J. 9.000 .250 8.750 .0400 8.710 11/01/2027
60014549 Marx ,James P. 8.375 .250 8.125 .0400 8.085 10/01/2027
60014551 Basior ,Barry 8.750 .250 8.500 .0400 8.460 11/01/2027
60014552 Crumpler ,James W. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014553 Crumpler ,James W. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014554 Crumpler ,James W. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014555 Knapton ,Merleene 8.875 .250 8.625 .0400 8.585 10/01/2027
60014556 Cole ,Patrick M 8.875 .250 8.625 .0400 8.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014542 Heiner ,Gary 271057 $1,109.45 11/01/1997 360
60014543 Cordts ,John N. 271062 $533.08 11/01/1997 360
60014544 Shelton ,Jack 271087 $1,461.48 11/01/1997 360
60014545 Martinez ,Orlinda E 271096 $418.40 11/01/1997 360
60014546 Banks ,Robert W. 271099 $441.36 11/01/1997 360
60014547 Ferraiolo Sr. ,Arthur 271114 $845.80 11/01/1997 360
60014548 De Santis, Jr.,Frank J. 271117 $1,641.43 11/01/1997 360
60014549 Marx ,James P. 271119 $1,154.55 11/01/1997 360
60014551 Basior ,Barry 271134 $936.17 11/01/1997 360
60014552 Crumpler ,James W. 271142 $413.02 11/01/1997 360
60014553 Crumpler ,James W. 271145 $428.75 11/01/1997 360
60014554 Crumpler ,James W. 271146 $413.02 11/01/1997 360
60014555 Knapton ,Merleene 271170 $1,120.27 11/01/1997 360
60014556 Cole ,Patrick M 271173 $650.44 11/01/1997 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>
60014542 Heiner ,Gary $189,000.00 N
60014543 Cordts ,John N. $111,500.00 N
60014544 Shelton ,Jack $257,000.00 N
60014545 Martinez ,Orlinda E $97,000.00 N
60014546 Banks ,Robert W. $82,000.00 N
60014547 Ferraiolo Sr. ,Arthur $153,000.00 N
60014548 De Santis, Jr.,Frank J. $255,000.00 N
60014549 Marx ,James P. $189,900.00 N
60014551 Basior ,Barry $172,000.00 N
60014552 Crumpler ,James W. $90,000.00 N
60014553 Crumpler ,James W. $90,000.00 N
60014554 Crumpler ,James W. $90,000.00 N
60014555 Knapton ,Merleene $176,000.00 N
60014556 Cole ,Patrick M $109,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 55
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014558 Lamas ,Gonzalo 7210 Arcata Street Fontana CA 92336 $147,156.10
60014559 Stith ,Norma L. 7900 East Colette Circle Tucson AZ 85710 $59,212.21
60014560 Pena ,Ulises 115 Butter Street Brooklyn NY 11231 $141,559.50
60014561 Dickason, Jr. ,Gilbert H 4136 Kimberly Avenue La Verne CA 91750 $205,051.49
60014562 Perez ,Claudio 10925 S W 145 Place Miami FL 33186 $94,380.00
60014563 Casero ,Roberto L 205 Halton Circle Seffner FL 33584 $91,941.33
60014564 Macmillan ,William W #5 Rapids Lane Grand Lake CO 80447 $103,523.11
60014565 Molloy ,Thomas W 8435 Palmada Drive Las Vegas NV 89123 $87,098.55
60014567 Ponce ,Jose Emil 1369 1369 1/2 And 1371 Ea Los Angeles CA 90031 $161,812.92
60014568 Acosta ,Eduardo J 3523 La Clede Avenue Los Angeles CA 90039 $133,828.51
60014569 Kucera ,Thomas 860 Monterey Road South Pasadena CA 91030 $193,869.83
60014570 Thayer ,Wendy A. 2410 Lakeview Drive Santa Rosa CA 95405 $84,891.22
60014571 Cadena ,Arturo F. 420 De Anza Way Oxnard CA 93033 $91,939.82
60014572 Voss ,Michael R 13027 Paraiso Road Apple Valley CA 92308 $132,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014558 Lamas ,Gonzalo 8.250 .250 8.000 .0400 7.960 10/01/2027
60014559 Stith ,Norma L. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014560 Pena ,Ulises 8.750 .250 8.500 .0400 8.460 10/01/2017
60014561 Dickason, Jr. ,Gilbert H 7.625 .250 7.375 .0400 7.335 10/01/2027
60014562 Perez ,Claudio 8.750 .250 8.500 .0400 8.460 11/01/2027
60014563 Casero ,Roberto L 8.250 .250 8.000 .0400 7.960 10/01/2027
60014564 Macmillan ,William W 7.500 .250 7.250 .0400 7.210 10/01/2027
60014565 Molloy ,Thomas W 8.625 .250 8.375 .0400 8.335 10/01/2027
60014567 Ponce ,Jose Emil 8.750 .250 8.500 .0400 8.460 10/01/2027
60014568 Acosta ,Eduardo J 8.250 .250 8.000 .0400 7.960 10/01/2027
60014569 Kucera ,Thomas 8.000 .250 7.750 .0400 7.710 10/01/2027
60014570 Thayer ,Wendy A. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014571 Cadena ,Arturo F. 8.125 .250 7.875 .0400 7.835 10/01/2027
60014572 Voss ,Michael R 7.750 .250 7.500 .0400 7.460 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014558 Lamas ,Gonzalo 271199 $1,106.24 7 11/01/1997 360
60014559 Stith ,Norma L. 271201 $445.13 11/01/1997 360
60014560 Pena ,Ulises 271205 $1,254.87 11/01/1997 240
60014561 Dickason, Jr. ,Gilbert H 271206 $1,452.39 7 11/01/1997 360
60014562 Perez ,Claudio 271207 $742.49 11/01/1997 360
60014563 Casero ,Roberto L 271215 $691.17 11/01/1997 360
60014564 Macmillan ,William W 271226 $724.39 11/01/1997 360
60014565 Molloy ,Thomas W 271233 $677.84 11/01/1997 360
60014567 Ponce ,Jose Emil 271262 $1,274.45 2 11/01/1997 360
60014568 Acosta ,Eduardo J 271273 $1,006.70 11/01/1997 360
60014569 Kucera ,Thomas 271287 $1,423.50 11/01/1997 360
60014570 Thayer ,Wendy A. 271297 $638.58 11/01/1997 360
60014571 Cadena ,Arturo F. 271302 $683.10 11/01/1997 360
60014572 Voss ,Michael R 271327 $945.67 11/01/1997 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>
60014558 Lamas ,Gonzalo $155,000.00 N
60014559 Stith ,Norma L. $79,000.00 N
60014560 Pena ,Ulises $247,000.00 N
60014561 Dickason, Jr. ,Gilbert H $216,000.00 N
60014562 Perez ,Claudio $150,000.00 N
60014563 Casero ,Roberto L $115,000.00 N
60014564 Macmillan ,William W $129,500.00 N
60014565 Molloy ,Thomas W $108,995.00 N
60014567 Ponce ,Jose Emil $180,000.00 N
60014568 Acosta ,Eduardo J $185,000.00 N
60014569 Kucera ,Thomas $205,000.00 N
60014570 Thayer ,Wendy A. $166,500.00 N
60014571 Cadena ,Arturo F. $144,000.00 N
60014572 Voss ,Michael R $180,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 56
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014573 Smith, Sr ,Sidney G 618 East 138th Street Los Angeles CA 90059 $91,447.35
60014574 Ignagni, Sr. ,Robert B 400 Bursby Branch Road Gallatin TN 37066 $66,425.15
60014575 Addy ,Michael S 386 East Sixth Avenue Midvale UT 84047 $79,449.30
60014577 Mikolitis ,Mark W. 96 Pratt Place Alma CO 80420 $137,537.24
60014578 Mc Donald ,Julie E. 5605 Montadale Street Fitchburg WI 53711 $124,928.08
60014579 Shiozumi ,Hideo 500 Kapalua Drive, Apt. # Lahaina HI 96761 $210,000.00
60014580 Nandsaram ,Seeram 93-16 201st Street Hollis NY 11423 $119,000.00
60014581 Griggs ,Rosemary 621 South Hancock Avenue Colorado Spring CO 80903 $71,250.00
60014582 Pettingill ,Clifford 175 East 400 South Smithfield UT 84335 $80,000.00
60014584 Kim ,Yen Hoe 24 Garden Circle Syosset NY 11791 $121,500.00
60014586 Colburn ,Kevin R 692 Outback Way Railroad Flat CA 95248 $199,887.88
60014587 Joseph ,Anna D 3029 64th Street Urbandale IA 50322 $72,414.08
60014590 Kline ,Gary L 4711 Black Lake Blvd. S. Olympia WA 98512 $139,912.98
60014592 Manooki ,Vanik 540 South Street Glendale CA 91202 $118,433.57
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014573 Smith, Sr ,Sidney G 8.750 .250 8.500 .0400 8.460 10/01/2027
60014574 Ignagni, Sr. ,Robert B 8.875 .250 8.625 .0400 8.585 10/01/2027
60014575 Addy ,Michael S 8.250 .250 8.000 .0400 7.960 10/01/2027
60014577 Mikolitis ,Mark W. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014578 Mc Donald ,Julie E. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014579 Shiozumi ,Hideo 8.500 .250 8.250 .0400 8.210 11/01/2027
60014580 Nandsaram ,Seeram 8.500 .250 8.250 .0400 8.210 11/01/2027
60014581 Griggs ,Rosemary 8.500 .250 8.250 .0400 8.210 11/01/2027
60014582 Pettingill ,Clifford 8.750 .250 8.500 .0400 8.460 11/01/2027
60014584 Kim ,Yen Hoe 8.750 .250 8.500 .0400 8.460 11/01/2027
60014586 Colburn ,Kevin R 8.875 .250 8.625 .0400 8.585 10/01/2027
60014587 Joseph ,Anna D 8.625 .250 8.375 .0400 8.335 10/01/2027
60014590 Kline ,Gary L 8.375 .250 8.125 .0400 8.085 10/01/2027
60014592 Manooki ,Vanik 8.875 .250 8.625 .0400 8.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014573 Smith, Sr ,Sidney G 271344 $719.84 11/01/1997 360
60014574 Ignagni, Sr. ,Robert B 271359 $529.11 11/01/1997 360
60014575 Addy ,Michael S 271361 $597.26 11/01/1997 360
60014577 Mikolitis ,Mark W. 271405 $1,033.93 11/01/1997 360
60014578 Mc Donald ,Julie E. 271410 $983.38 11/01/1997 360
60014579 Shiozumi ,Hideo 271447 $1,614.72 11/01/1997 360
60014580 Nandsaram ,Seeram 271449 $915.01 11/01/1997 360
60014581 Griggs ,Rosemary 271465 $547.86 11/01/1997 360
60014582 Pettingill ,Clifford 271484 $629.37 11/01/1997 360
60014584 Kim ,Yen Hoe 271490 $955.84 11/01/1997 360
60014586 Colburn ,Kevin R 271495 $1,591.29 11/01/1997 360
60014587 Joseph ,Anna D 271500 $563.90 11/01/1997 360
60014590 Kline ,Gary L 271518 $1,064.10 11/01/1997 360
60014592 Manooki ,Vanik 271528 $942.84 11/01/1997 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>
60014573 Smith, Sr ,Sidney G $122,000.00 N
60014574 Ignagni, Sr. ,Robert B $95,000.00 N
60014575 Addy ,Michael S $114,000.00 N
60014577 Mikolitis ,Mark W. $183,500.00 N
60014578 Mc Donald ,Julie E. $167,500.00 N
60014579 Shiozumi ,Hideo $420,000.00 N
60014580 Nandsaram ,Seeram $159,000.00 N
60014581 Griggs ,Rosemary $95,000.00 N
60014582 Pettingill ,Clifford $135,000.00 N
60014584 Kim ,Yen Hoe $162,000.00 N
60014586 Colburn ,Kevin R $270,000.00 N
60014587 Joseph ,Anna D $103,600.00 N
60014590 Kline ,Gary L $200,000.00 N
60014592 Manooki ,Vanik $158,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 57
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014593 Wan ,Eugene 1521 Carrigan Lane Ukiah CA 95482 $107,861.79
60014594 Vacek ,Linda M Rt 1 Box 39-v County Rd 2 East Bernard TX 77435 $69,513.16
60014595 Perakis ,Margaret 3720 Cactus Wheel Ct Las Vegas NV 89129 $83,952.91
60014596 Agate ,James M. 296 Desert Falls Drive E. Palm Desert CA 92211 $153,659.23
60014598 Isturis, Jr. ,Fidel H. 5288 Kesling Street San Diego CA 92117 $131,170.49
60014599 King ,Stephen 5430 Surrey Street Las Vegas NV 89119 $94,739.55
60014600 Hendrickson ,Risa A. 1515 A Prospect Avenue Placentia CA 92870 $76,945.65
60014601 Malunay, Sr. ,Jeffrey S 133 Poniu Circle Wailuku HI 96793 $199,878.84
60014602 Tiffin ,Timothy L 2310 Cottage Court Missoula MT 59801 $101,944.28
60014603 Smith ,Robert L. 814 Central Avenue Dolores CO 81323 $129,669.36
60014604 Weight ,Patrick D 717 South 1100 East Pleasant Grove UT 84062 $119,925.41
60014605 Cowan ,Stefan 715 Country Road 11 Golden CO 80403 $119,925.41
60014606 Lacy ,Charles F 78-261 Manukai Street #24 Kailua Kona HI 96740 $146,408.94
60014607 Biagi ,Donald L. 6748 Ebensburg Lane Dublin CA 94568 $182,889.14
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014593 Wan ,Eugene 8.250 .250 8.000 .0400 7.960 09/01/2027
60014594 Vacek ,Linda M 8.375 .250 8.125 .0400 8.085 10/01/2027
60014595 Perakis ,Margaret 8.875 .250 8.625 .0400 8.585 10/01/2027
60014596 Agate ,James M. 8.625 .250 8.375 .0400 8.335 10/01/2027
60014598 Isturis, Jr. ,Fidel H. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014599 King ,Stephen 8.250 .250 8.000 .0400 7.960 10/01/2027
60014600 Hendrickson ,Risa A. 7.750 .250 7.500 .0400 7.460 10/01/2027
60014601 Malunay, Sr. ,Jeffrey S 8.500 .250 8.250 .0400 8.210 10/01/2027
60014602 Tiffin ,Timothy L 9.000 .250 8.750 .0400 8.710 10/01/2027
60014603 Smith ,Robert L. 8.375 .250 8.125 .0400 8.085 10/01/2027
60014604 Weight ,Patrick D 8.375 .250 8.125 .0400 8.085 10/01/2027
60014605 Cowan ,Stefan 8.375 .250 8.125 .0400 8.085 10/01/2027
60014606 Lacy ,Charles F 8.375 .250 8.125 .0400 8.085 10/01/2027
60014607 Biagi ,Donald L. 8.500 .250 8.250 .0400 8.210 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014593 Wan ,Eugene 271539 $811.37 11/01/1997 360
60014594 Vacek ,Linda M 271547 $529.02 11/01/1997 360
60014595 Perakis ,Margaret 271586 $668.34 11/01/1997 360
60014596 Agate ,James M. 271589 $1,195.85 11/01/1997 360
60014598 Isturis, Jr. ,Fidel H. 271595 $1,009.20 11/01/1997 360
60014599 King ,Stephen 271596 $712.20 11/01/1997 360
60014600 Hendrickson ,Risa A. 271607 $551.64 11/01/1997 360
60014601 Malunay, Sr. ,Jeffrey S 271609 $1,537.83 11/01/1997 360
60014602 Tiffin ,Timothy L 271630 $820.72 11/01/1997 360
60014603 Smith ,Robert L. 271664 $986.19 11/01/1997 360
60014604 Weight ,Patrick D 271671 $912.09 11/01/1997 360
60014605 Cowan ,Stefan 271672 $912.09 11/01/1997 360
60014606 Lacy ,Charles F 271699 $1,113.51 11/01/1997 360
60014607 Biagi ,Donald L. 271704 $1,407.11 11/01/1997 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>
60014593 Wan ,Eugene $144,000.00 N
60014594 Vacek ,Linda M $87,000.00 N
60014595 Perakis ,Margaret $141,000.00 N
60014596 Agate ,James M. $205,000.00 N
60014598 Isturis, Jr. ,Fidel H. $175,000.00 N
60014599 King ,Stephen $118,500.00 N
60014600 Hendrickson ,Risa A. $101,500.00 N
60014601 Malunay, Sr. ,Jeffrey S $250,000.00 N
60014602 Tiffin ,Timothy L $175,000.00 N
60014603 Smith ,Robert L. $173,000.00 N
60014604 Weight ,Patrick D $166,000.00 N
60014605 Cowan ,Stefan $162,000.00 N
60014606 Lacy ,Charles F $196,000.00 N
60014607 Biagi ,Donald L. $230,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 58
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014609 Marks ,Lloyd 222 East 35th Street, Apt New York NY 10016 $108,000.00
60014610 Weinstein ,Joseph 688 Park Avenue Lakewood NJ 8701 $151,857.65
60014611 Anderson ,Reginald 529 Route 306 Monsey NY 10952 $213,750.00
60014612 Lalicata ,Domenic S78 W30389 Red Oak Circle Mukwonago WI 53149 $149,911.45
60014613 Shapin-Jeppest,Sherrill 28 Corners Road Congers NY 10920 $129,500.00
60014614 Locatelli, Jr.,Adolph 18999 Larsen Road Grass Valley CA 95945 $97,940.63
60014615 Ozmon ,Gary Robe 691 W. Ivanhoe Street Gilbert AZ 85233 $111,930.39
60014616 Lankford ,Donald L. 91 Mercer Avenue Doylestown PA 18901 $84,899.26
60014617 Adams ,Linda L. 52659 Coney Drive Grand Junction MI 49056 $86,139.62
60014618 Posada ,Mario 2039 Welwyn Avenue Des Plaines IL 60018 $99,079.39
60014619 Campbell ,Keith G 413 High Street San Luis Obispo CA 93401 $126,849.50
60014620 Ohanessian ,Vartkes 440 West Wilson Avenue Glendale CA 91203 $196,728.51
60014621 Spurr ,Peter 11700 N. Edi Place Tucson AZ 85737 $194,887.81
60014622 Miller ,John M 16520 14th Dr. Se Bothell WA 98012 $165,649.59
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014609 Marks ,Lloyd 8.750 .250 8.500 .0400 8.460 11/01/2027
60014610 Weinstein ,Joseph 8.250 .250 8.000 .0400 7.960 07/01/2027
60014611 Anderson ,Reginald 9.000 .250 8.750 .0400 8.710 11/01/2027
60014612 Lalicata ,Domenic 8.625 .250 8.375 .0400 8.335 10/01/2027
60014613 Shapin-Jeppest,Sherrill 8.750 .250 8.500 .0400 8.460 11/01/2027
60014614 Locatelli, Jr.,Adolph 8.500 .250 8.250 .0400 8.210 10/01/2027
60014615 Ozmon ,Gary Robe 8.375 .250 8.125 .0400 8.085 10/01/2027
60014616 Lankford ,Donald L. 8.625 .250 8.375 .0400 8.335 10/01/2027
60014617 Adams ,Linda L. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014618 Posada ,Mario 8.500 .250 8.250 .0400 8.210 10/01/2027
60014619 Campbell ,Keith G 8.625 .250 8.375 .0400 8.335 10/01/2027
60014620 Ohanessian ,Vartkes 8.500 .250 8.250 .0400 8.210 10/01/2027
60014621 Spurr ,Peter 8.750 .250 8.500 .0400 8.460 10/01/2027
60014622 Miller ,John M 8.500 .250 8.250 .0400 8.210 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014609 Marks ,Lloyd 271723 $849.64 11/01/1997 360
60014610 Weinstein ,Joseph 271730 $1,143.80 11/01/1997 360
60014611 Anderson ,Reginald 271753 $1,719.88 2 11/01/1997 360
60014612 Lalicata ,Domenic 271754 $1,166.68 11/01/1997 360
60014613 Shapin-Jeppest,Sherrill 271759 $1,018.78 11/01/1997 360
60014614 Locatelli, Jr.,Adolph 271767 $753.54 11/01/1997 360
60014615 Ozmon ,Gary Robe 271797 $851.28 11/01/1997 360
60014616 Lankford ,Donald L. 271800 $661.13 11/01/1997 360
60014617 Adams ,Linda L. 271830 $647.97 11/01/1997 360
60014618 Posada ,Mario 271831 $762.76 11/01/1997 360
60014619 Campbell ,Keith G 271833 $987.79 11/01/1997 360
60014620 Ohanessian ,Vartkes 271852 $1,514.51 7 11/01/1997 360
60014621 Spurr ,Peter 271868 $1,534.07 11/01/1997 360
60014622 Miller ,John M 271884 $1,274.47 11/01/1997 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>
60014609 Marks ,Lloyd $135,000.00 N
60014610 Weinstein ,Joseph $203,000.00 N
60014611 Anderson ,Reginald $225,000.00 N
60014612 Lalicata ,Domenic $208,000.00 N
60014613 Shapin-Jeppest,Sherrill $189,500.00 N
60014614 Locatelli, Jr.,Adolph $123,000.00 N
60014615 Ozmon ,Gary Robe $140,512.00 N
60014616 Lankford ,Donald L. $115,000.00 N
60014617 Adams ,Linda L. $115,000.00 N
60014618 Posada ,Mario $124,000.00 N
60014619 Campbell ,Keith G $180,000.00 N
60014620 Ohanessian ,Vartkes $232,000.00 N
60014621 Spurr ,Peter $260,000.00 N
60014622 Miller ,John M $221,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 59
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014623 Sims ,Hubert M. 6045 33rd Ave Seattle WA 98118 $139,915.19
60014624 Tran ,Dung Q. 13054 Roundup Avenue San Diego CA 92129 $134,307.51
60014626 Legaspin ,Sergio G. 830 Barr Avenue San Diego CA 92103 $115,428.21
60014628 Domanski ,Joseph S. 310 Donegal Drive Bozeman MT 59715 $99,881.50
60014629 Tokarczyk, Jr.,August Jo 117 119th Street South Tacoma WA 98444 $68,961.31
60014630 Madsen ,Wayne 844 South 6th Street Cottage Grove OR 97424 $84,499.74
60014631 Scott ,Robert J. 401 East Broadway Avenue Harrison OH 45030 $55,033.01
60014633 Molloy ,Thomas W. 648 Paulson Drive Las Vegas NV 89123 $83,950.41
60014634 Singh ,Mohinder 110-37 63rd Road Forest Hills NY 11375 $179,781.15
60014636 Sellers ,David A. 6790 Sw Madrid Drive Beaverton OR 97007 $135,830.35
60014637 Berry ,Sandra 257 Cornelia Street Brooklyn NY 11221 $143,725.02
60014640 Wadell ,James R. 27001 Hwy 149 Gunnison CO 81230 $134,950.00
60014641 Byrne ,Daniel L 1115-1125 Temple Avenue Santa Rosa CA 95404 $140,035.91
60014642 Terry ,Ardith L. 1248 N W Elgin Avenue Bend OR 97701 $95,870.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014623 Sims ,Hubert M. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014624 Tran ,Dung Q. 7.875 .250 7.625 .0400 7.585 10/01/2027
60014626 Legaspin ,Sergio G. 8.375 .250 8.125 .0400 8.085 10/01/2027
60014628 Domanski ,Joseph S. 8.625 .250 8.375 .0400 8.335 10/01/2027
60014629 Tokarczyk, Jr.,August Jo 8.875 .250 8.625 .0400 8.585 10/01/2027
60014630 Madsen ,Wayne 8.625 .250 8.375 .0400 8.335 10/01/2027
60014631 Scott ,Robert J. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014633 Molloy ,Thomas W. 8.625 .250 8.375 .0400 8.335 10/01/2027
60014634 Singh ,Mohinder 8.500 .250 8.250 .0400 8.210 10/01/2027
60014636 Sellers ,David A. 8.375 .250 8.125 .0400 8.085 10/01/2027
60014637 Berry ,Sandra 8.500 .250 8.250 .0400 8.210 09/01/2027
60014640 Wadell ,James R. 7.875 .250 7.625 .0400 7.585 11/01/2027
60014641 Byrne ,Daniel L 7.375 .250 7.125 .0400 7.085 10/01/2027
60014642 Terry ,Ardith L. 8.000 .250 7.750 .0400 7.710 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014623 Sims ,Hubert M. 271890 $1,076.48 11/01/1997 360
60014624 Tran ,Dung Q. 271897 $974.49 11/01/1997 360
60014626 Legaspin ,Sergio G. 271927 $877.88 11/01/1997 360
60014628 Domanski ,Joseph S. 271956 $777.79 11/01/1997 360
60014629 Tokarczyk, Jr.,August Jo 271957 $549.00 11/01/1997 360
60014630 Madsen ,Wayne 271960 $658.01 2 11/01/1997 360
60014631 Scott ,Robert J. 271965 $423.67 12 11/01/1997 360
60014633 Molloy ,Thomas W. 271990 $653.34 11/01/1997 360
60014634 Singh ,Mohinder 272004 $1,384.04 11/01/1997 360
60014636 Sellers ,David A. 272023 $1,033.70 11/01/1997 360
60014637 Berry ,Sandra 272025 $1,106.47 11/01/1997 360
60014640 Wadell ,James R. 272051 $978.48 11/01/1997 360
60014641 Byrne ,Daniel L 272054 $968.67 11/01/1997 360
60014642 Terry ,Ardith L. 272055 $704.41 11/01/1997 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>
60014623 Sims ,Hubert M. $200,000.00 N
60014624 Tran ,Dung Q. $168,000.00 N
60014626 Legaspin ,Sergio G. $165,000.00 N
60014628 Domanski ,Joseph S. $167,000.00 N
60014629 Tokarczyk, Jr.,August Jo $92,000.00 N
60014630 Madsen ,Wayne $94,000.00 N
60014631 Scott ,Robert J. $61,250.00 N
60014633 Molloy ,Thomas W. $105,000.00 N
60014634 Singh ,Mohinder $225,000.00 N
60014636 Sellers ,David A. $170,000.00 N
60014637 Berry ,Sandra $179,900.00 N
60014640 Wadell ,James R. $180,000.00 N
60014641 Byrne ,Daniel L $187,000.00 N
60014642 Terry ,Ardith L. $120,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 60
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014643 Mondragon ,Ronnie B 60 Camino Sur Del Ranchos De Taos NM 87557 $195,000.00
60014644 Chand ,Katherine 617 Yolo Street Broderick CA 95605 $69,900.86
60014645 Levora ,Eric A. 481- D Kawailoa Road Kailua HI 96734 $199,862.36
60014646 Singh ,Vijay 6120 North Montana Portland OR 97217 $92,000.00
60014649 Cotter ,Ronald D. 5763 E. Bloomfield Street Simi Valley CA 93063 $121,676.25
60014650 Kolar ,Larry C. 2649 Michael Drive Edmond OK 73013 $64,000.00
60014651 Kroll ,Dennis 193 Stevens Avenue Jersey City NJ 7305 $73,500.00
60014652 Strumidlo ,Leszek 118 West Granada Avenue Lindenhurst NY 11757 $128,800.00
60014653 Jaspering ,Marilyn 204 Ski Doo Road Fairplay CO 80440 $90,265.11
60014654 Chang ,Jung In 10896 Hamilton Downs Cour Jacksonville FL 32257 $101,188.66
60014655 Schwarz ,Robert R. 2440 Dunwood Court Colorado Spring CO 80920 $180,066.27
60014656 Stanton ,Larry L 590 East 400 South Payson UT 84651 $63,000.00
60014657 Sarff ,Dave 4300 Zeitler Road Moscow ID 83843 $75,745.06
60014659 Miller ,Robert G. 3891 East Page Avenue Gilbert AZ 85234 $70,003.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014643 Mondragon ,Ronnie B 8.500 .250 8.250 .0400 8.210 11/01/2027
60014644 Chand ,Katherine 7.750 .250 7.500 .0400 7.460 10/01/2027
60014645 Levora ,Eric A. 7.875 .250 7.625 .0400 7.585 10/01/2027
60014646 Singh ,Vijay 8.750 .250 8.500 .0400 8.460 11/01/2027
60014649 Cotter ,Ronald D. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014650 Kolar ,Larry C. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014651 Kroll ,Dennis 8.875 .250 8.625 .0400 8.585 11/01/2027
60014652 Strumidlo ,Leszek 8.750 .250 8.500 .0400 8.460 11/01/2027
60014653 Jaspering ,Marilyn 8.500 .250 8.250 .0400 8.210 10/01/2027
60014654 Chang ,Jung In 8.500 .250 8.250 .0400 8.210 10/01/2027
60014655 Schwarz ,Robert R. 7.500 .250 7.250 .0400 7.210 10/01/2027
60014656 Stanton ,Larry L 8.500 .250 8.250 .0400 8.210 11/01/2027
60014657 Sarff ,Dave 8.125 .250 7.875 .0400 7.835 10/01/2017
60014659 Miller ,Robert G. 7.875 .250 7.625 .0400 7.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014643 Mondragon ,Ronnie B 272057 $1,499.38 11/01/1997 360
60014644 Chand ,Katherine 272068 $501.49 11/01/1997 360
60014645 Levora ,Eric A. 272069 $1,450.14 11/01/1997 360
60014646 Singh ,Vijay 272070 $723.77 11/01/1997 360
60014649 Cotter ,Ronald D. 272104 $936.15 11/01/1997 360
60014650 Kolar ,Larry C. 272115 $492.10 11/01/1997 360
60014651 Kroll ,Dennis 272118 $584.80 11/01/1997 360
60014652 Strumidlo ,Leszek 272126 $1,013.27 11/01/1997 360
60014653 Jaspering ,Marilyn 272131 $694.91 11/01/1997 360
60014654 Chang ,Jung In 272151 $778.53 11/01/1997 360
60014655 Schwarz ,Robert R. 272156 $1,259.98 7 11/01/1997 360
60014656 Stanton ,Larry L 272157 $484.42 11/01/1997 360
60014657 Sarff ,Dave 272160 $641.62 11/01/1997 240
60014659 Miller ,Robert G. 272165 $508.28 11/01/1997 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>
60014643 Mondragon ,Ronnie B $300,000.00 N
60014644 Chand ,Katherine $95,000.00 N
60014645 Levora ,Eric A. $280,000.00 N
60014646 Singh ,Vijay $132,000.00 N
60014649 Cotter ,Ronald D. $171,750.00 N
60014650 Kolar ,Larry C. $80,000.00 N
60014651 Kroll ,Dennis $98,000.00 N
60014652 Strumidlo ,Leszek $161,000.00 N
60014653 Jaspering ,Marilyn $120,500.00 N
60014654 Chang ,Jung In $135,000.00 N
60014655 Schwarz ,Robert R. $200,226.00 N
60014656 Stanton ,Larry L $84,000.00 N
60014657 Sarff ,Dave $120,000.00 N
60014659 Miller ,Robert G. $120,115.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 61
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014660 Howell ,Max E. 6355 Bischoff Road West Palm Beach FL 33413 $80,952.18
60014661 Santos ,Romulo O. 1080 Main Street Andover MA 1810 $108,278.01
60014662 Wilmarth ,Perry M. 501 Fox Glove Court Fort Collins CO 80524 $83,939.20
60014663 St Louis ,Josaphat 1740 Nw 22 Avenue Delray Beach FL 33445 $79,951.54
60014665 Brandler ,Andrew J. 135 La Pasada Circle West Ponte Vedra Bea FL 32082 $93,693.20
60014666 Carvajal ,Jose 1238 South Broadway Santa Ana CA 92707 $98,000.00
60014667 Radmacher ,Frank 394 Lake Resort Road Lake Arrowhead CA 92352 $200,000.00
60014668 Vatanatham ,Sutee 4515 E Alamos Fresno CA 93726 $102,881.05
60014669 Verrastro ,Michael 5732 Whistler Circle Huntington Beac CA 92649 $192,546.90
60014670 Blankenship ,Barbara P 517 Mission Road Everson WA 98247 $84,200.00
60014671 Wicker, Sr. ,Frank 483 South Kihei Rd. #220 Wailuku HI 96793 $71,750.00
60014672 Kneff ,Raymond A 5492 West Road To The Pas Pinedale AZ 85934 $64,084.11
60014673 Tanossian ,Zareh 15031 Chatsworth Street Mission Hills CA 91345 $52,469.79
60014674 Christman ,Howard 802 San Gabriel Place Colorado Spring CO 80906 $52,120.76
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014660 Howell ,Max E. 8.625 .250 8.375 .0400 8.335 10/01/2027
60014661 Santos ,Romulo O. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014662 Wilmarth ,Perry M. 7.625 .250 7.375 .0400 7.335 10/01/2027
60014663 St Louis ,Josaphat 8.500 .250 8.250 .0400 8.210 10/01/2027
60014665 Brandler ,Andrew J. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014666 Carvajal ,Jose 8.000 .250 7.750 .0400 7.710 11/01/2017
60014667 Radmacher ,Frank 7.875 .250 7.625 .0400 7.585 11/01/2027
60014668 Vatanatham ,Sutee 8.750 .250 8.500 .0400 8.460 10/01/2027
60014669 Verrastro ,Michael 8.125 .250 7.875 .0400 7.835 10/01/2027
60014670 Blankenship ,Barbara P 8.250 .250 8.000 .0400 7.960 11/01/2027
60014671 Wicker, Sr. ,Frank 8.000 .250 7.750 .0400 7.710 11/01/2027
60014672 Kneff ,Raymond A 8.250 .250 8.000 .0400 7.960 10/01/2027
60014673 Tanossian ,Zareh 8.750 .250 8.500 .0400 8.460 10/01/2027
60014674 Christman ,Howard 8.875 .250 8.625 .0400 8.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014660 Howell ,Max E. 272168 $630.01 11/01/1997 360
60014661 Santos ,Romulo O. 272176 $862.48 11/01/1997 360
60014662 Wilmarth ,Perry M. 272179 $594.55 11/01/1997 360
60014663 St Louis ,Josaphat 272180 $615.13 11/01/1997 360
60014665 Brandler ,Andrew J. 272187 $720.86 11/01/1997 360
60014666 Carvajal ,Jose 272197 $819.71 11/01/1997 240
60014667 Radmacher ,Frank 272214 $1,450.14 11/01/1997 360
60014668 Vatanatham ,Sutee 272247 $810.30 11/01/1997 360
60014669 Verrastro ,Michael 272265 $1,431.54 11/01/1997 360
60014670 Blankenship ,Barbara P 272275 $632.57 11/01/1997 360
60014671 Wicker, Sr. ,Frank 272287 $526.48 11/01/1997 360
60014672 Kneff ,Raymond A 272297 $481.75 11/01/1997 360
60014673 Tanossian ,Zareh 272299 $413.02 11/01/1997 360
60014674 Christman ,Howard 272308 $414.93 11/01/1997 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>
60014660 Howell ,Max E. $109,000.00 N
60014661 Santos ,Romulo O. $135,500.00 N
60014662 Wilmarth ,Perry M. $114,000.00 N
60014663 St Louis ,Josaphat $100,000.00 N
60014665 Brandler ,Andrew J. $125,000.00 N
60014666 Carvajal ,Jose $133,500.00 N
60014667 Radmacher ,Frank $475,000.00 N
60014668 Vatanatham ,Sutee $180,000.00 N
60014669 Verrastro ,Michael $241,000.00 N
60014670 Blankenship ,Barbara P $109,000.00 N
60014671 Wicker, Sr. ,Frank $102,500.00 N
60014672 Kneff ,Raymond A $85,500.00 N
60014673 Tanossian ,Zareh $75,000.00 N
60014674 Christman ,Howard $69,590.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 62
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014675 Millstein ,Eugene J 3017 Stanton Circle Carmichael CA 95608 $75,907.60
60014676 Erger ,Marilyn V 16521 East 121st Circle Brighton CO 80601 $164,894.79
60014677 Fallgatter ,Kirk M. 16835 420th Avenue Southe North Bend WA 98045 $108,933.96
60014678 Millstein ,Eugene J 7070 Lynnetree Way Citrus Heights CA 95610 $66,918.54
60014679 Hesser ,John W. 2727 East Alturas Street Tucson AZ 85716 $67,061.39
60014680 Ordonez ,Alfredo 13600 S W 84th Ave Miami FL 33158 $150,000.00
60014681 Hesser ,John W. 2725 East Alturas Street Tucson AZ 85716 $67,061.39
60014682 Still ,Ronald R. 4828 N E 32nd Place Portland OR 97211 $93,993.03
60014684 Eaton ,Stephen O 10701 Putman Rd Thurmont MD 21788 $61,419.26
60014685 Graham ,Dorris 12339 Kitty Brook Houston TX 77071 $74,599.43
60014686 Ballard ,Gloria E. 5241 S. Dawson St. Seattle WA 98118 $67,713.24
60014688 Mitchell ,Nancy M 234 Mill Springs Coatesville IN 46121 $142,500.00
60014689 Swanson ,Victoria 1757 Woodmoor Dr Monument CO 80132 $69,958.68
60014690 De Vaney ,Elfriede 2565 Cortina Lane, Unit 1 Vail CO 81657 $137,827.86
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014675 Millstein ,Eugene J 8.500 .250 8.250 .0400 8.210 10/01/2027
60014676 Erger ,Marilyn V 8.250 .250 8.000 .0400 7.960 10/01/2027
60014677 Fallgatter ,Kirk M. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014678 Millstein ,Eugene J 8.500 .250 8.250 .0400 8.210 10/01/2027
60014679 Hesser ,John W. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014680 Ordonez ,Alfredo 8.250 .250 8.000 .0400 7.960 11/01/2027
60014681 Hesser ,John W. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014682 Still ,Ronald R. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014684 Eaton ,Stephen O 8.125 .250 7.875 .0400 7.835 10/01/2027
60014685 Graham ,Dorris 8.000 .250 7.750 .0400 7.710 10/01/2027
60014686 Ballard ,Gloria E. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014688 Mitchell ,Nancy M 8.875 .250 8.625 .0400 8.585 11/01/2027
60014689 Swanson ,Victoria 8.625 .250 8.375 .0400 8.335 10/01/2027
60014690 De Vaney ,Elfriede 8.375 .250 8.125 .0400 8.085 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014675 Millstein ,Eugene J 272313 $584.37 11/01/1997 360
60014676 Erger ,Marilyn V 272314 $1,239.59 11/01/1997 360
60014677 Fallgatter ,Kirk M. 272318 $838.12 11/01/1997 360
60014678 Millstein ,Eugene J 272326 $515.17 11/01/1997 360
60014679 Hesser ,John W. 272344 $527.88 11/01/1997 360
60014680 Ordonez ,Alfredo 272347 $1,126.90 11/01/1997 360
60014681 Hesser ,John W. 272354 $527.88 11/01/1997 360
60014682 Still ,Ronald R. 272358 $723.16 7 11/01/1997 360
60014684 Eaton ,Stephen O 272370 $456.64 11/01/1997 360
60014685 Graham ,Dorris 272375 $548.12 1 11/01/1997 360
60014686 Ballard ,Gloria E. 272396 $509.36 11/01/1997 360
60014688 Mitchell ,Nancy M 272443 $1,133.80 11/01/1997 360
60014689 Swanson ,Victoria 272444 $544.45 11/01/1997 360
60014690 De Vaney ,Elfriede 272445 $1,048.90 11/01/1997 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>
60014675 Millstein ,Eugene J $146,000.00 N
60014676 Erger ,Marilyn V $345,000.00 N
60014677 Fallgatter ,Kirk M. $146,000.00 N
60014678 Millstein ,Eugene J $137,500.00 N
60014679 Hesser ,John W. $89,500.00 N
60014680 Ordonez ,Alfredo $245,000.00 N
60014681 Hesser ,John W. $89,500.00 N
60014682 Still ,Ronald R. $104,500.00 N
60014684 Eaton ,Stephen O $133,000.00 N
60014685 Graham ,Dorris $83,000.00 N
60014686 Ballard ,Gloria E. $168,000.00 N
60014688 Mitchell ,Nancy M $190,000.00 N
60014689 Swanson ,Victoria $100,000.00 N
60014690 De Vaney ,Elfriede $245,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 63
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014691 De Vaney ,Elfriede 2565 Cortina Lane, Unit 2 Vail CO 81657 $99,878.41
60014692 Pyrak ,Mark A. 818 Main Street Fort Benton MT 59442 $81,907.72
60014693 Chelone ,Nate C 460 Miller Creek Road San Rafael CA 94903 $59,925.16
60014697 Decruz ,Penny M 6754 Crow Canyon Road Castro Valley CA 94546 $174,888.41
60014698 Lethridge ,Beth 715 North 610 East American Fork UT 84003 $157,904.29
60014699 Grucel ,Sharon 10299 West Fair Avenue Ap Littleton CO 80127 $87,893.01
60014700 Schoenberg ,John J. 15809 Rimrock Road Apple Valley CA 92307 $171,884.59
60014701 Pease ,Ngoc Bich 1205 N E 80th Avenue Portland OR 97213 $85,600.00
60014702 Givone ,Eugene R. 19451 Salmon Lane Huntington Beac CA 92646 $148,000.00
60014703 Phillips ,Darrell 103 Division Street Platteville CO 80651 $105,000.00
60014704 Jensen ,Dennis 1445 Birchim Lane Bishop CA 93514 $107,934.57
60014705 Phillips ,Darrell 623 Marion Ave Platteville CO 80651 $61,500.00
60014706 Rebboah ,Gilbert 25122 Ocean Knoll Dana Point CA 92629 $167,000.00
60014707 Martinez ,Henry 10480 Greenhurst Street Bellflower CA 90706 $99,339.78
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014691 De Vaney ,Elfriede 8.500 .250 8.250 .0400 8.210 10/01/2027
60014692 Pyrak ,Mark A. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014693 Chelone ,Nate C 8.375 .250 8.125 .0400 8.085 10/01/2027
60014697 Decruz ,Penny M 8.250 .250 8.000 .0400 7.960 10/01/2027
60014698 Lethridge ,Beth 8.500 .250 8.250 .0400 8.210 10/01/2027
60014699 Grucel ,Sharon 8.500 .250 8.250 .0400 8.210 10/01/2027
60014700 Schoenberg ,John J. 8.000 .250 7.750 .0400 7.710 10/01/2027
60014701 Pease ,Ngoc Bich 8.750 .250 8.500 .0400 8.460 11/01/2027
60014702 Givone ,Eugene R. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014703 Phillips ,Darrell 8.500 .250 8.250 .0400 8.210 11/01/2027
60014704 Jensen ,Dennis 8.500 .250 8.250 .0400 8.210 10/01/2027
60014705 Phillips ,Darrell 8.500 .250 8.250 .0400 8.210 11/01/2027
60014706 Rebboah ,Gilbert 7.875 .250 7.625 .0400 7.585 11/01/2027
60014707 Martinez ,Henry 8.500 .250 8.250 .0400 8.210 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014691 De Vaney ,Elfriede 272451 $768.91 11/01/1997 360
60014692 Pyrak ,Mark A. 272452 $652.43 11/01/1997 360
60014693 Chelone ,Nate C 272468 $456.04 11/01/1997 360
60014697 Decruz ,Penny M 272560 $1,314.72 11/01/1997 360
60014698 Lethridge ,Beth 272576 $1,214.88 11/01/1997 360
60014699 Grucel ,Sharon 272581 $676.64 11/01/1997 360
60014700 Schoenberg ,John J. 272584 $1,262.08 11/01/1997 360
60014701 Pease ,Ngoc Bich 272587 $673.42 11/01/1997 360
60014702 Givone ,Eugene R. 272590 $1,137.99 11/01/1997 360
60014703 Phillips ,Darrell 272591 $807.36 11/01/1997 360
60014704 Jensen ,Dennis 272604 $830.43 11/01/1997 360
60014705 Phillips ,Darrell 272607 $472.89 11/01/1997 360
60014706 Rebboah ,Gilbert 272610 $1,210.87 11/01/1997 360
60014707 Martinez ,Henry 272612 $764.30 11/01/1997 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>
60014691 De Vaney ,Elfriede $245,000.00 N
60014692 Pyrak ,Mark A. $106,000.00 N
60014693 Chelone ,Nate C $250,000.00 N
60014697 Decruz ,Penny M $345,000.00 N
60014698 Lethridge ,Beth $215,000.00 N
60014699 Grucel ,Sharon $115,000.00 N
60014700 Schoenberg ,John J. $215,000.00 N
60014701 Pease ,Ngoc Bich $107,000.00 N
60014702 Givone ,Eugene R. $185,000.00 N
60014703 Phillips ,Darrell $148,000.00 N
60014704 Jensen ,Dennis $135,000.00 N
60014705 Phillips ,Darrell $82,000.00 N
60014706 Rebboah ,Gilbert $400,000.00 N
60014707 Martinez ,Henry $142,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 64
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014708 Renfro ,Harvey D 28235 Stonington Way Escondido CA 92026 $157,893.98
60014709 Schiavon ,Eliseo 1128 South California Ave West Covina CA 91790 $71,910.17
60014710 Mccarty ,Donald L. 4649 Evenstar Lane Julian CA 92036 $64,957.48
60014711 Morton ,Donald L. 361 West Woodbury Drive Meridian ID 83642 $71,206.84
60014712 Shoemaker ,Harold B. 22960 South Estacada Road Estacada OR 97023 $154,791.29
60014713 Nelson ,Timothy 635 East Shannon Street Chandler AZ 85225 $131,316.22
60014714 Mcfarlen ,Robert L 14634 North 33rd Street Phoenix AZ 85032 $57,285.46
60014715 Baniel ,Anat 17839 North 13th Street Phoenix AZ 85022 $132,650.00
60014716 Serrano ,Fortunato 13151 Sunbird Drive Moreno Valley CA 92553 $69,905.74
60014717 Vignal ,Jean Paul 24402 Hampton Drive #B Valencia CA 91355 $196,000.00
60014719 Stramaglia ,Jennifer 18208 Judy Street Castro Valley CA 94546 $121,916.05
60014720 Sullivan ,Brian 1011 Caribbean Drive East Summerland Key FL 33042 $159,897.97
60014721 Moneo ,Consuelo 16414 Clymer Street Grana Los Angeles CA 91344 $85,684.48
60014723 Irizzary ,Maria 69-65a Park Drive East Flushing NY 11354 $68,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014708 Renfro ,Harvey D 8.000 .250 7.750 .0400 7.710 10/01/2027
60014709 Schiavon ,Eliseo 8.375 .250 8.125 .0400 8.085 10/01/2027
60014710 Mccarty ,Donald L. 8.125 .250 7.875 .0400 7.835 10/01/2027
60014711 Morton ,Donald L. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014712 Shoemaker ,Harold B. 8.000 .250 7.750 .0400 7.710 10/01/2027
60014713 Nelson ,Timothy 8.250 .250 8.000 .0400 7.960 10/01/2027
60014714 Mcfarlen ,Robert L 8.875 .250 8.625 .0400 8.585 10/01/2027
60014715 Baniel ,Anat 8.625 .250 8.375 .0400 8.335 11/01/2027
60014716 Serrano ,Fortunato 8.000 .250 7.750 .0400 7.710 10/01/2027
60014717 Vignal ,Jean Paul 8.500 .250 8.250 .0400 8.210 11/01/2027
60014719 Stramaglia ,Jennifer 7.875 .250 7.625 .0400 7.585 10/01/2027
60014720 Sullivan ,Brian 8.250 .250 8.000 .0400 7.960 10/01/2027
60014721 Moneo ,Consuelo 8.000 .250 7.750 .0400 7.710 10/01/2027
60014723 Irizzary ,Maria 8.250 .250 8.000 .0400 7.960 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014708 Renfro ,Harvey D 272619 $1,159.35 11/01/1997 360
60014709 Schiavon ,Eliseo 272628 $547.26 11/01/1997 360
60014710 Mccarty ,Donald L. 272651 $482.62 11/01/1997 360
60014711 Morton ,Donald L. 272656 $547.85 11/01/1997 360
60014712 Shoemaker ,Harold B. 272658 $1,137.34 11/01/1997 360
60014713 Nelson ,Timothy 272675 $987.16 2 11/01/1997 360
60014714 Mcfarlen ,Robert L 272676 $456.30 11/01/1997 360
60014715 Baniel ,Anat 272694 $1,031.74 7 11/01/1997 360
60014716 Serrano ,Fortunato 272710 $513.64 11/01/1997 360
60014717 Vignal ,Jean Paul 272721 $1,507.07 11/01/1997 360
60014719 Stramaglia ,Jennifer 272733 $884.58 11/01/1997 360
60014720 Sullivan ,Brian 272739 $1,202.03 11/01/1997 360
60014721 Moneo ,Consuelo 272750 $629.57 11/01/1997 360
60014723 Irizzary ,Maria 272778 $510.86 11/01/1997 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>
60014708 Renfro ,Harvey D $225,000.00 N
60014709 Schiavon ,Eliseo $180,000.00 N
60014710 Mccarty ,Donald L. $250,000.00 N
60014711 Morton ,Donald L. $95,000.00 N
60014712 Shoemaker ,Harold B. $243,000.00 N
60014713 Nelson ,Timothy $146,000.00 N
60014714 Mcfarlen ,Robert L $76,500.00 N
60014715 Baniel ,Anat $149,900.00 N
60014716 Serrano ,Fortunato $100,000.00 N
60014717 Vignal ,Jean Paul $245,000.00 N
60014719 Stramaglia ,Jennifer $176,000.00 N
60014720 Sullivan ,Brian $215,000.00 N
60014721 Moneo ,Consuelo $143,000.00 N
60014723 Irizzary ,Maria $85,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 65
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014725 Foster ,Winsome E 7180 Raleigh Street Hollywood FL 33024 $57,565.11
60014726 Kippel ,Viola R. 13145 Neon N E Albuquerque NM 87112 $95,435.92
60014729 Clokey ,Lori E. 18 Davenport Street Harrison NY 10528 $124,844.07
60014730 Ruston ,Bruce E 5664 Summerfield Street Camarillo CA 93012 $93,676.87
60014731 Culver ,Gene R. 1083 Lazy M Street Red Lodge MT 59068 $119,927.30
60014733 MIRANDA ,GREGORY 727 729 731 733 E EAST MA TURLOCK CA 95380 $50,000.00
60014734 Dean ,Georgia 12800 Sw Chicory Court Portland OR 97223 $68,916.10
60014736 Hoang ,Aaron T. 1762 Bagpipe Way San Jose CA 95121 $182,959.53
60014737 Tumber ,Rajinder 1757 Augusta Lane Yuba City CA 95993 $85,445.48
60014738 Tumber ,Rajinder 1507 Eli Court Yuba City CA 95993 $85,445.48
60014739 Clarizio Sr. ,Orlando 9850 Emperor Avenue Arcadia CA 91007 $173,183.69
60014740 Tchoudovski ,Valeri 18721 Hatteras Street #4 Tarzana CA 91356 $167,892.87
60014741 Neal ,Glen T 25322 Road 407 Raymond CA 93653 $212,700.00
60014742 Grady ,Edward C. 7400 Souther Pine Lane Sacramento CA 95842 $119,150.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014725 Foster ,Winsome E 8.500 .250 8.250 .0400 8.210 10/01/2027
60014726 Kippel ,Viola R. 8.000 .250 7.750 .0400 7.710 10/01/2027
60014729 Clokey ,Lori E. 8.375 .250 8.125 .0400 8.085 10/01/2027
60014730 Ruston ,Bruce E 8.125 .250 7.875 .0400 7.835 10/01/2027
60014731 Culver ,Gene R. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014733 MIRANDA ,GREGORY 8.500 .250 8.250 .0400 8.210 11/01/2027
60014734 Dean ,Georgia 8.500 .250 8.250 .0400 8.210 10/01/2027
60014736 Hoang ,Aaron T. 8.125 .250 7.875 .0400 7.835 10/01/2027
60014737 Tumber ,Rajinder 8.250 .250 8.000 .0400 7.960 10/01/2027
60014738 Tumber ,Rajinder 8.250 .250 8.000 .0400 7.960 10/01/2027
60014739 Clarizio Sr. ,Orlando 8.375 .250 8.125 .0400 8.085 10/01/2027
60014740 Tchoudovski ,Valeri 8.250 .250 8.000 .0400 7.960 10/01/2027
60014741 Neal ,Glen T 8.625 .250 8.375 .0400 8.335 11/01/2027
60014742 Grady ,Edward C. 8.500 .250 8.250 .0400 8.210 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014725 Foster ,Winsome E 272806 $442.89 11/01/1997 360
60014726 Kippel ,Viola R. 272817 $700.75 11/01/1997 360
60014729 Clokey ,Lori E. 272847 $950.09 11/01/1997 360
60014730 Ruston ,Bruce E 272852 $696.46 11/01/1997 360
60014731 Culver ,Gene R. 272853 $922.70 11/01/1997 360
60014733 MIRANDA ,GREGORY 272890 $384.46 11/01/1997 360
60014734 Dean ,Georgia 272903 $530.55 11/01/1997 360
60014736 Hoang ,Aaron T. 272930 $1,360.25 11/01/1997 360
60014737 Tumber ,Rajinder 272938 $642.33 11/01/1997 360
60014738 Tumber ,Rajinder 272941 $642.33 11/01/1997 360
60014739 Clarizio Sr. ,Orlando 272946 $1,317.97 12 11/01/1997 360
60014740 Tchoudovski ,Valeri 272947 $1,262.13 11/01/1997 360
60014741 Neal ,Glen T 272949 $1,654.36 11/01/1997 360
60014742 Grady ,Edward C. 272959 $916.16 11/01/1997 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>
60014725 Foster ,Winsome E $72,000.00 N
60014726 Kippel ,Viola R. $136,500.00 N
60014729 Clokey ,Lori E. $243,000.00 N
60014730 Ruston ,Bruce E $190,500.00 N
60014731 Culver ,Gene R. $177,500.00 N
60014733 MIRANDA ,GREGORY $125,000.00 N
60014734 Dean ,Georgia $150,000.00 N
60014736 Hoang ,Aaron T. $229,000.00 N
60014737 Tumber ,Rajinder $114,000.00 N
60014738 Tumber ,Rajinder $115,000.00 N
60014739 Clarizio Sr. ,Orlando $204,000.00 N
60014740 Tchoudovski ,Valeri $210,000.00 N
60014741 Neal ,Glen T $270,000.00 N
60014742 Grady ,Edward C. $158,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 66
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014743 Roach ,Sandra L. 810 Cordwell Circle Roseville CA 95678 $116,900.00
60014744 Woeltje ,Dale W. 6356 Moonmist Avenue Las Vegas NV 89108 $102,542.48
60014745 Ferreira ,Melva Fai 1535 Pensacola Street #39 Honolulu HI 96822 $65,963.00
60014748 Croasmun ,Robert G 2331 South M Street Tacoma WA 98405 $64,410.93
60014749 Eastham ,Barry A. 16324 South East Hillside Milwaukie OR 97267 $89,945.48
60014750 Murillo ,Antonio 440 L Street , Apt. Q Chula Vista CA 91911 $63,626.43
60014751 Jewett ,Keith 545 West Dryden Street Glendale CA 91202 $133,900.00
60014752 Persad ,Harichara 193 Fort Lee Road Teaneck NJ 7666 $113,927.31
60014753 Bogen ,Alfred J. 310 Radam Lane Austin TX 78745 $126,000.00
60014754 Brink ,Robert J. 10795 Willow Reed Circle Parker CO 80134 $210,905.94
60014755 Diaz ,Oscar A. 13435 S W 71 Street Miami FL 33183 $105,000.00
60014757 Prado ,Karen Lee 979 South Pennsylvania St Denver CO 80209 $157,500.00
60014758 Speer ,Rose 10512 Lake Vista Circle Boca Raton FL 33428 $99,934.58
60014760 Ford ,Claire Y. 9485 W. Hinsdale Place Littleton CO 80123 $131,550.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014743 Roach ,Sandra L. 7.875 .250 7.625 .0400 7.585 11/01/2027
60014744 Woeltje ,Dale W. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014745 Ferreira ,Melva Fai 8.875 .250 8.625 .0400 8.585 10/01/2027
60014748 Croasmun ,Robert G 7.875 .250 7.625 .0400 7.585 10/01/2027
60014749 Eastham ,Barry A. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014750 Murillo ,Antonio 8.750 .250 8.500 .0400 8.460 10/01/2027
60014751 Jewett ,Keith 8.250 .250 8.000 .0400 7.960 11/01/2027
60014752 Persad ,Harichara 8.250 .250 8.000 .0400 7.960 10/01/2027
60014753 Bogen ,Alfred J. 8.250 .250 8.000 .0400 7.960 11/01/2027
60014754 Brink ,Robert J. 8.125 .250 7.875 .0400 7.835 10/01/2027
60014755 Diaz ,Oscar A. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014757 Prado ,Karen Lee 8.750 .250 8.500 .0400 8.460 11/01/2027
60014758 Speer ,Rose 8.125 .250 7.875 .0400 7.835 10/01/2027
60014760 Ford ,Claire Y. 8.000 .250 7.750 .0400 7.710 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014743 Roach ,Sandra L. 272962 $847.61 7 11/01/1997 360
60014744 Woeltje ,Dale W. 272964 $816.33 12 11/01/1997 360
60014745 Ferreira ,Melva Fai 272969 $525.13 11/01/1997 360
60014748 Croasmun ,Robert G 272999 $467.67 11/01/1997 360
60014749 Eastham ,Barry A. 273014 $692.02 11/01/1997 360
60014750 Murillo ,Antonio 273036 $501.13 11/01/1997 360
60014751 Jewett ,Keith 273051 $1,005.95 12 11/01/1997 360
60014752 Persad ,Harichara 273063 $856.44 2 11/01/1997 360
60014753 Bogen ,Alfred J. 273065 $946.60 5 11/01/1997 360
60014754 Brink ,Robert J. 273068 $1,567.00 5 11/01/1997 360
60014755 Diaz ,Oscar A. 273077 $807.36 11/01/1997 360
60014757 Prado ,Karen Lee 273109 $1,239.05 11/01/1997 360
60014758 Speer ,Rose 273116 $742.50 11/01/1997 360
60014760 Ford ,Claire Y. 273124 $965.27 11/01/1997 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>
60014743 Roach ,Sandra L. $140,000.00 N
60014744 Woeltje ,Dale W. $114,000.00 N
60014745 Ferreira ,Melva Fai $88,000.00 N
60014748 Croasmun ,Robert G $86,000.00 N
60014749 Eastham ,Barry A. $166,000.00 N
60014750 Murillo ,Antonio $91,000.00 N
60014751 Jewett ,Keith $149,000.00 N
60014752 Persad ,Harichara $120,000.00 N
60014753 Bogen ,Alfred J. $140,000.00 N
60014754 Brink ,Robert J. $248,287.00 N
60014755 Diaz ,Oscar A. $150,000.00 N
60014757 Prado ,Karen Lee $210,000.00 N
60014758 Speer ,Rose $130,000.00 N
60014760 Ford ,Claire Y. $165,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 67
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014761 Shafer ,Peter B. 1531 Warm Springs Road 4 Ketchum ID 83340 $115,927.90
60014762 Bofill ,Jose Carl 7930 S W 96th Street Miami FL 33156 $129,515.22
60014763 Rochat-Boeser ,Jeffrey W 19011 Maple Leaf Drive Eden Prairie MN 55346 $142,057.01
60014764 Learned ,Richard M 96 Norwood Avunue Newton MA 2160 $179,899.09
60014766 Bergman ,Rick C 162-164 Bedford Street N Minneapolis MN 55414 $187,400.00
60014767 Berry ,J David 2194 Edison Ave Atlanta GA 30305 $140,837.16
60014768 Zorella ,Sharon L. 603 Lennox Street Baltimore MD 21217 $50,000.00
60014770 Coker ,Aleen D 113 Davis Court Bakersfield CA 93309 $87,401.53
60014771 Carman, Jr. ,Gregory W 30 Larkspur Court Farmingdale NY 11735 $123,591.64
60014772 Acrey ,Edward 16 Asoleado Carmel Valley CA 93924 $181,748.67
60014773 Cozzetti ,Dennis N. 12523 North Middle Sabino Mount Lemmon AZ 85619 $103,870.25
60014774 Sampognaro ,George 4811 Hidden Beaches Drive Blythe CA 92225 $188,770.19
60014775 Worysz ,Gerald 175 Clearview Ave Southold NY 11971 $124,827.38
60014776 Meza ,Edward A P N 405030021 Moreno Valley CA 92555 $199,737.47
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014761 Shafer ,Peter B. 8.375 .250 8.125 .0400 8.085 10/01/2027
60014762 Bofill ,Jose Carl 8.125 .250 7.875 .0400 7.835 10/01/2027
60014763 Rochat-Boeser ,Jeffrey W 8.125 .250 7.875 .0400 7.835 10/01/2027
60014764 Learned ,Richard M 8.875 .250 8.625 .0400 8.585 10/01/2027
60014766 Bergman ,Rick C 8.875 .250 8.625 .0400 8.585 11/01/2027
60014767 Berry ,J David 8.750 .250 8.500 .0400 8.460 10/01/2027
60014768 Zorella ,Sharon L. 8.750 .250 8.500 .0400 8.460 11/01/2027
60014770 Coker ,Aleen D 8.875 .250 8.625 .0400 8.585 10/01/2027
60014771 Carman, Jr. ,Gregory W 8.250 .250 8.000 .0400 7.960 10/01/2027
60014772 Acrey ,Edward 7.875 .250 7.625 .0400 7.585 09/01/2027
60014773 Cozzetti ,Dennis N. 8.375 .250 8.125 .0400 8.085 10/01/2027
60014774 Sampognaro ,George 8.500 .250 8.250 .0400 8.210 09/01/2027
60014775 Worysz ,Gerald 7.875 .250 7.625 .0400 7.585 09/01/2027
60014776 Meza ,Edward 8.125 .250 7.875 .0400 7.835 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014761 Shafer ,Peter B. 273135 $881.68 11/01/1997 360
60014762 Bofill ,Jose Carl 273142 $962.28 11/01/1997 360
60014763 Rochat-Boeser ,Jeffrey W 273155 $1,055.46 11/01/1997 360
60014764 Learned ,Richard M 273167 $1,432.16 11/01/1997 360
60014766 Bergman ,Rick C 273170 $1,491.04 11/01/1997 360
60014767 Berry ,J David 273173 $1,109.25 11/01/1997 360
60014768 Zorella ,Sharon L. 273184 $393.35 11/01/1997 360
60014770 Coker ,Aleen D 273197 $696.19 11/01/1997 360
60014771 Carman, Jr. ,Gregory W 273207 $929.69 11/01/1997 360
60014772 Acrey ,Edward 273218 $1,319.63 11/01/1997 360
60014773 Cozzetti ,Dennis N. 273221 $790.48 11/01/1997 360
60014774 Sampognaro ,George 273235 $1,453.25 1 11/01/1997 360
60014775 Worysz ,Gerald 273238 $906.34 11/01/1997 360
60014776 Meza ,Edward 273242 $1,484.99 11/01/1997 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>
60014761 Shafer ,Peter B. $145,000.00 N
60014762 Bofill ,Jose Carl $162,000.00 N
60014763 Rochat-Boeser ,Jeffrey W $177,700.00 N
60014764 Learned ,Richard M $275,000.00 N
60014766 Bergman ,Rick C $250,000.00 N
60014767 Berry ,J David $188,000.00 N
60014768 Zorella ,Sharon L. $86,000.00 N
60014770 Coker ,Aleen D $129,000.00 N
60014771 Carman, Jr. ,Gregory W $165,000.00 N
60014772 Acrey ,Edward $250,000.00 N
60014773 Cozzetti ,Dennis N. $130,000.00 N
60014774 Sampognaro ,George $210,000.00 N
60014775 Worysz ,Gerald $180,000.00 N
60014776 Meza ,Edward $250,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 68
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014777 Higbee ,P. Arthur 241 Fifth Street Steamboat Sprin CO 80477 $85,000.00
60014778 Patterson ,Ronald L 136 S. Tomboy Street #c20 Telluride CO 81435 $89,890.55
60014779 Erps ,Harry 1246 Beach 12th Street Far Rockaway NY 11691 $199,500.00
60014780 Pino ,Orlando L 1504 North Castlewood Dri Franktown CO 80116 $169,885.93
60014781 Cannon ,Greg 8916 Camelia Ct Rancho Cucamong CA 91730 $171,774.20
60014782 Bevard ,James R. 848 North 235 East Orem UT 84057 $95,938.78
60014785 Acito ,Gina 10428 Keokuk Avenue Chatsworth CA 91311 $133,750.00
60014786 Burns ,Rosemary 6247 E Justine Rd. Scottsdale AZ 85254 $65,166.50
60014787 Cleary ,A. Sean 5190 Hayes Avenue Las Vegas NV 89108 $127,418.70
60014788 Drewke ,Kyle 1075 Kona Drive Bastrop TX 78602 $62,927.25
60014789 Tran ,Kham Duc 1990 College View Drive Monterey Park CA 91754 $144,902.71
60014790 Eke ,Emmanuel 6100 17th St South Saint Petersbur FL 33712 $70,156.37
60014792 James ,Allan 977 Utica Avenue Brooklyn NY 11203 $164,809.44
60014793 Allen ,Shannon 544 S. E. 174th Avenue Portland OR 97233 $54,569.39
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014777 Higbee ,P. Arthur 8.000 .250 7.750 .0400 7.710 11/01/2027
60014778 Patterson ,Ronald L 8.500 .250 8.250 .0400 8.210 10/01/2027
60014779 Erps ,Harry 8.875 .250 8.625 .0400 8.585 11/01/2027
60014780 Pino ,Orlando L 8.000 .250 7.750 .0400 7.710 10/01/2027
60014781 Cannon ,Greg 8.125 .250 7.875 .0400 7.835 09/01/2027
60014782 Bevard ,James R. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014785 Acito ,Gina 8.375 .250 8.125 .0400 8.085 11/01/2027
60014786 Burns ,Rosemary 8.250 .250 8.000 .0400 7.960 10/01/2027
60014787 Cleary ,A. Sean 8.250 .250 8.000 .0400 7.960 10/01/2027
60014788 Drewke ,Kyle 8.750 .250 8.500 .0400 8.460 10/01/2027
60014789 Tran ,Kham Duc 8.000 .250 7.750 .0400 7.710 10/01/2027
60014790 Eke ,Emmanuel 8.375 .250 8.125 .0400 8.085 10/01/2027
60014792 James ,Allan 8.750 .250 8.500 .0400 8.460 10/01/2027
60014793 Allen ,Shannon 8.875 .250 8.625 .0400 8.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014777 Higbee ,P. Arthur 273286 $623.70 11/01/1997 360
60014778 Patterson ,Ronald L 273291 $692.03 11/01/1997 360
60014779 Erps ,Harry 273295 $1,587.31 11/01/1997 360
60014780 Pino ,Orlando L 273298 $1,247.40 11/01/1997 360
60014781 Cannon ,Greg 273299 $1,277.10 11/01/1997 360
60014782 Bevard ,James R. 273304 $721.22 11/01/1997 360
60014785 Acito ,Gina 273329 $1,016.60 11/01/1997 360
60014786 Burns ,Rosemary 273359 $490.20 11/01/1997 360
60014787 Cleary ,A. Sean 273369 $957.86 11/01/1997 360
60014788 Drewke ,Kyle 273377 $495.62 11/01/1997 360
60014789 Tran ,Kham Duc 273396 $1,063.96 11/01/1997 360
60014790 Eke ,Emmanuel 273403 $533.57 11/01/1997 360
60014792 James ,Allan 273427 $1,298.06 11/01/1997 360
60014793 Allen ,Shannon 273435 $434.42 11/01/1997 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>
60014777 Higbee ,P. Arthur $170,000.00 N
60014778 Patterson ,Ronald L $130,000.00 N
60014779 Erps ,Harry $285,000.00 N
60014780 Pino ,Orlando L $230,000.00 N
60014781 Cannon ,Greg $215,000.00 N
60014782 Bevard ,James R. $120,000.00 N
60014785 Acito ,Gina $267,500.00 N
60014786 Burns ,Rosemary $132,000.00 N
60014787 Cleary ,A. Sean $170,000.00 N
60014788 Drewke ,Kyle $93,000.00 N
60014789 Tran ,Kham Duc $195,000.00 N
60014790 Eke ,Emmanuel $87,750.00 N
60014792 James ,Allan $220,000.00 N
60014793 Allen ,Shannon $78,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 69
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014795 Rivieccio ,Rosemary 81-11 Margaret Place Glendale NY 11385 $163,098.56
60014796 Rippy Jr ,William J 889 20 Road Fruita CO 81521 $104,872.33
60014797 Kaniho, Jr. ,John O. 18-7895 Kolenelio Road Mountain View HI 96771 $83,943.64
60014799 Drotzman ,Michael J 1755 West Angel Fire Terr Phoenix AZ 85027 $70,850.00
60014800 Kranenburg ,Peter A. 1109 W. 1240 North Orem UT 84057 $184,744.53
60014804 Cartwright ,Robert Fr 44598 Laurel Lane Sugarloaf CA 92386 $59,600.00
60014807 Lee ,Larsen 322 South Winton Avenue La Puente CA 91744 $60,132.25
60014808 Sanchez ,Dietrich 4250 Wickford Drive North Las Vegas NV 89030 $136,019.64
60014809 Bobrow ,Paul S. 1149 Cielo Circle Rohnert Park CA 94928 $159,200.00
60014811 Brown ,Melissa I 7808 St. Fabian Lane Baltimore MD 21222 $63,159.70
60014812 Schwartz ,Kennard R 544 East 16th Avenue Longmont CO 80501 $199,865.80
60014813 Rodriguez ,Rose E 4627 West Gary Drive Chandler AZ 85226 $78,896.31
60014814 Gerdes ,Michael J 615 East Lodge Street Tempe AZ 85283 $102,985.95
60014818 Patel ,Rakesh 1701 Nathaniel Drive Philadelphia PA 19115 $63,710.37
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014795 Rivieccio ,Rosemary 8.375 .250 8.125 .0400 8.085 10/01/2027
60014796 Rippy Jr ,William J 8.500 .250 8.250 .0400 8.210 10/01/2027
60014797 Kaniho, Jr. ,John O. 8.000 .250 7.750 .0400 7.710 10/01/2027
60014799 Drotzman ,Michael J 8.500 .250 8.250 .0400 8.210 11/01/2027
60014800 Kranenburg ,Peter A. 7.875 .250 7.625 .0400 7.585 10/01/2027
60014804 Cartwright ,Robert Fr 8.250 .250 8.000 .0400 7.960 11/01/2027
60014807 Lee ,Larsen 8.875 .250 8.625 .0400 8.585 10/01/2027
60014808 Sanchez ,Dietrich 8.625 .250 8.375 .0400 8.335 10/01/2027
60014809 Bobrow ,Paul S. 8.000 .250 7.750 .0400 7.710 11/01/2027
60014811 Brown ,Melissa I 8.250 .250 8.000 .0400 7.960 10/01/2027
60014812 Schwartz ,Kennard R 8.000 .250 7.750 .0400 7.710 10/01/2027
60014813 Rodriguez ,Rose E 8.125 .250 7.875 .0400 7.835 10/01/2027
60014814 Gerdes ,Michael J 8.375 .250 8.125 .0400 8.085 10/01/2027
60014818 Patel ,Rakesh 8.375 .250 8.125 .0400 8.085 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014795 Rivieccio ,Rosemary 273452 $1,240.44 11/01/1997 360
60014796 Rippy Jr ,William J 273461 $807.36 11/01/1997 360
60014797 Kaniho, Jr. ,John O. 273474 $616.36 11/01/1997 360
60014799 Drotzman ,Michael J 273485 $544.78 11/01/1997 360
60014800 Kranenburg ,Peter A. 273488 $1,341.38 11/01/1997 360
60014804 Cartwright ,Robert Fr 273568 $447.75 11/01/1997 360
60014807 Lee ,Larsen 273625 $478.98 11/01/1997 360
60014808 Sanchez ,Dietrich 273641 $1,058.58 7 11/01/1997 360
60014809 Bobrow ,Paul S. 273643 $1,168.15 11/01/1997 360
60014811 Brown ,Melissa I 273656 $474.80 11/01/1997 360
60014812 Schwartz ,Kennard R 273693 $1,467.53 11/01/1997 360
60014813 Rodriguez ,Rose E 273697 $586.57 11/01/1997 360
60014814 Gerdes ,Michael J 273712 $783.25 7 11/01/1997 360
60014818 Patel ,Rakesh 273758 $484.55 11/01/1997 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>
60014795 Rivieccio ,Rosemary $204,000.00 N
60014796 Rippy Jr ,William J $145,000.00 N
60014797 Kaniho, Jr. ,John O. $105,000.00 N
60014799 Drotzman ,Michael J $94,500.00 N
60014800 Kranenburg ,Peter A. $285,000.00 N
60014804 Cartwright ,Robert Fr $74,500.00 N
60014807 Lee ,Larsen $86,000.00 N
60014808 Sanchez ,Dietrich $151,225.00 N
60014809 Bobrow ,Paul S. $199,000.00 N
60014811 Brown ,Melissa I $80,500.00 N
60014812 Schwartz ,Kennard R $250,000.00 N
60014813 Rodriguez ,Rose E $107,000.00 N
60014814 Gerdes ,Michael J $114,500.00 N
60014818 Patel ,Rakesh $85,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 70
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014820 Meyer ,Deborah L 4621 West 43rd Avenue Denver CO 80212 $61,461.78
60014822 Runkle ,Sandra L. 2817 Yorkshire Avenue Henderson NV 89014 $74,609.17
60014823 Leggett ,Graham 8564 W. Rue De Lamour Peoria AZ 85381 $97,786.00
60014825 Moore ,James G. 7356 Cobblefield Street Las Vegas NV 89123 $50,000.00
60014827 Forcier ,Jeff D 2405 Main Street Napa CA 94558 $154,000.00
60014829 Constantine ,Deborah E 738 Judith Court Petaluma CA 94952 $160,793.97
60014830 Bachynski ,Myron L. 4200 150th Street West Savage MN 55378 $155,101.03
60014831 Argueta ,Javier 792 Mc Donald Way Greenfield CA 93927 $127,199.08
60014832 Brooks ,Jordan 18151 N E 31 Court, Unit Miami FL 33160 $58,400.00
60014833 Sowder ,John G 8831 Old Elam Cemetary Ruthville VA 23147 $50,250.00
60014834 Day ,Michael G 1293 North 50 East Orem UT 84057 $98,400.00
60014835 Applegren ,Mark S 2625 North Lehman Road Peoria IL 61604 $96,875.87
60014836 Tossman ,Sandra Fa 42 Raisin Tree Circle Pikesville MD 21208 $199,762.99
60014841 Bovell ,Henderson 3536 Chesapeake Circle Boynton Beach FL 33462 $111,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014820 Meyer ,Deborah L 8.375 .250 8.125 .0400 8.085 10/01/2027
60014822 Runkle ,Sandra L. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014823 Leggett ,Graham 8.125 .250 7.875 .0400 7.835 10/01/2027
60014825 Moore ,James G. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014827 Forcier ,Jeff D 8.250 .250 8.000 .0400 7.960 11/01/2027
60014829 Constantine ,Deborah E 8.250 .250 8.000 .0400 7.960 10/01/2027
60014830 Bachynski ,Myron L. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014831 Argueta ,Javier 8.625 .250 8.375 .0400 8.335 10/01/2027
60014832 Brooks ,Jordan 8.750 .250 8.500 .0400 8.460 11/01/2027
60014833 Sowder ,John G 8.125 .250 7.875 .0400 7.835 11/01/2027
60014834 Day ,Michael G 8.500 .250 8.250 .0400 8.210 11/01/2027
60014835 Applegren ,Mark S 8.250 .250 8.000 .0400 7.960 10/01/2027
60014836 Tossman ,Sandra Fa 8.625 .250 8.375 .0400 8.335 10/01/2027
60014841 Bovell ,Henderson 8.375 .250 8.125 .0400 8.085 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014820 Meyer ,Deborah L 273768 $467.44 11/01/1997 360
60014822 Runkle ,Sandra L. 273842 $574.38 11/01/1997 360
60014823 Leggett ,Graham 273843 $726.53 11/01/1997 360
60014825 Moore ,James G. 273850 $384.46 11/01/1997 360
60014827 Forcier ,Jeff D 273863 $1,156.95 11/01/1997 360
60014829 Constantine ,Deborah E 273877 $1,209.54 11/01/1997 360
60014830 Bachynski ,Myron L. 273882 $1,165.97 11/01/1997 360
60014831 Argueta ,Javier 273886 $990.52 11/01/1997 360
60014832 Brooks ,Jordan 273888 $459.43 11/01/1997 360
60014833 Sowder ,John G 273894 $373.11 11/01/1997 360
60014834 Day ,Michael G 273919 $756.61 11/01/1997 360
60014835 Applegren ,Mark S 273939 $728.73 11/01/1997 360
60014836 Tossman ,Sandra Fa 273956 $1,555.58 11/01/1997 360
60014841 Bovell ,Henderson 274064 $843.68 11/01/1997 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>
60014820 Meyer ,Deborah L $82,000.00 N
60014822 Runkle ,Sandra L. $115,000.00 N
60014823 Leggett ,Graham $122,313.00 N
60014825 Moore ,James G. $172,000.00 N
60014827 Forcier ,Jeff D $205,000.00 N
60014829 Constantine ,Deborah E $261,000.00 N
60014830 Bachynski ,Myron L. $194,000.00 N
60014831 Argueta ,Javier $141,500.00 N
60014832 Brooks ,Jordan $73,000.00 N
60014833 Sowder ,John G $67,000.00 N
60014834 Day ,Michael G $123,000.00 N
60014835 Applegren ,Mark S $129,900.00 N
60014836 Tossman ,Sandra Fa $252,000.00 N
60014841 Bovell ,Henderson $148,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 71
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014842 Florio ,Christine 678 Dolphin Avenue Key Largo FL 33037 $59,960.75
60014844 Young ,John Grat 25 East Garnet Granby CO 80446 $111,922.92
60014846 Genender ,Catherine 21740 Chatsworth Street Chatsworth CA 91311 $149,798.03
60014847 Lo ,Bill 6 Crivelli Aisle Irvine CA 92606 $134,960.00
60014848 Pasini ,Luis 2231 Quesada Avenue San Francisco CA 94115 $140,000.00
60014849 Sagona ,Ronald A. 2412 Camino Corso Rio San Clemente CA 92673 $168,000.00
60014850 Yun ,Rak Heum 19029 Nordhoff Street, No Northridge CA 91324 $71,916.86
60014851 Mead ,Patrick 5335 Santa Lupe Avenue Sparks NV 89436 $131,176.42
60014852 Zayas ,Maria 2826 W. Granada Road Phoenix AZ 85009 $51,750.00
60014854 Hearst ,Edward W. 26186 Tierra Circle Mission Viejo CA 92691 $149,899.35
60014855 Sterling ,Anne 1433 Emerywheel Circle Las Vegas NV 89110 $71,200.00
60014856 Noia ,Rosa Mari 3502 Fitzsimons Common Fremont CA 94538 $135,000.00
60014857 Bevan ,Joan Mari 8734-8376 Ramsgate Avenu Los Angeles CA 90045 $184,000.00
60014859 Mclaughlin ,Carol Jea 19 Veracruz Dana Point CA 92629 $201,361.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014842 Florio ,Christine 8.125 .250 7.875 .0400 7.835 10/01/2027
60014844 Young ,John Grat 7.875 .250 7.625 .0400 7.585 10/01/2027
60014846 Genender ,Catherine 8.000 .250 7.750 .0400 7.710 10/01/2027
60014847 Lo ,Bill 8.125 .250 7.875 .0400 7.835 11/01/2027
60014848 Pasini ,Luis 8.750 .250 8.500 .0400 8.460 11/01/2027
60014849 Sagona ,Ronald A. 8.250 .250 8.000 .0400 7.960 11/01/2027
60014850 Yun ,Rak Heum 8.750 .250 8.500 .0400 8.460 10/01/2027
60014851 Mead ,Patrick 8.875 .250 8.625 .0400 8.585 10/01/2027
60014852 Zayas ,Maria 8.500 .250 8.250 .0400 8.210 11/01/2027
60014854 Hearst ,Edward W. 8.000 .250 7.750 .0400 7.710 10/01/2027
60014855 Sterling ,Anne 8.625 .250 8.375 .0400 8.335 11/01/2027
60014856 Noia ,Rosa Mari 7.875 .250 7.625 .0400 7.585 11/01/2027
60014857 Bevan ,Joan Mari 8.500 .250 8.250 .0400 8.210 11/01/2027
60014859 Mclaughlin ,Carol Jea 7.875 .250 7.625 .0400 7.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014842 Florio ,Christine 274079 $445.50 11/01/1997 360
60014844 Young ,John Grat 274101 $812.08 11/01/1997 360
60014846 Genender ,Catherine 274125 $1,100.65 11/01/1997 360
60014847 Lo ,Bill 274131 $1,002.07 11/01/1997 360
60014848 Pasini ,Luis 274132 $1,101.38 11/01/1997 360
60014849 Sagona ,Ronald A. 274143 $1,262.13 11/01/1997 360
60014850 Yun ,Rak Heum 274149 $566.42 11/01/1997 360
60014851 Mead ,Patrick 274150 $1,044.28 11/01/1997 360
60014852 Zayas ,Maria 274158 $397.91 11/01/1997 360
60014854 Hearst ,Edward W. 274166 $1,100.65 11/01/1997 360
60014855 Sterling ,Anne 274175 $553.79 11/01/1997 360
60014856 Noia ,Rosa Mari 274188 $978.84 11/01/1997 360
60014857 Bevan ,Joan Mari 274191 $1,414.80 11/01/1997 360
60014859 Mclaughlin ,Carol Jea 274216 $1,461.01 11/01/1997 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>
60014842 Florio ,Christine $143,000.00 N
60014844 Young ,John Grat $140,000.00 N
60014846 Genender ,Catherine $315,000.00 N
60014847 Lo ,Bill $192,800.00 N
60014848 Pasini ,Luis $175,000.00 N
60014849 Sagona ,Ronald A. $210,000.00 N
60014850 Yun ,Rak Heum $90,000.00 N
60014851 Mead ,Patrick $175,000.00 N
60014852 Zayas ,Maria $69,000.00 N
60014854 Hearst ,Edward W. $219,000.00 N
60014855 Sterling ,Anne $89,000.00 N
60014856 Noia ,Rosa Mari $251,900.00 N
60014857 Bevan ,Joan Mari $230,000.00 N
60014859 Mclaughlin ,Carol Jea $259,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 72
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014861 Helling ,David L. 1442 Friendship Lane East Colorado Spring CO 80904 $120,849.05
60014862 Stockert ,Cheryl Ly 95723 Highway 99 West Junction City OR 97448 $140,623.15
60014863 Mouttapa ,Albert 8008 Manchester Avenue Rohnert Park CA 94928 $210,455.06
60014864 Parker ,Michael J 403 Anderson St. Castle Rock CO 80104 $86,700.00
60014866 King ,Robert G. H. C. 3 Box 4014 Reeds Spring MO 65737 $79,500.00
60014868 Masters-shahna,Ali 44916 Harlas Avenue Lancaster CA 93534 $51,637.13
60014869 Bartels ,Kurt 616 Cherry Lane Pueblo CO 81005 $53,700.00
60014870 Jones ,Casey J 1360 Lanson Lane Eugene OR 97404 $73,457.72
60014871 Hay ,Dorothy L 19601 Southeast 143rd Str Renton WA 98052 $125,927.51
60014872 Rock ,Janet F. 829 East Trinity Lane Claremont CA 91711 $119,791.37
60014873 March ,Charles E 12650 Powerhouse Road Potter Valley CA 95469 $129,917.10
60014877 Young ,Gary 2400 Stover Fort Collins CO 80525 $100,000.00
60014879 Mercer ,Charles E 11395 West 58th Ave Arvada CO 80004 $110,861.52
60014880 Halliday ,Jay F .0 Carbondale CO 81623 $149,913.69
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014861 Helling ,David L. 8.375 .250 8.125 .0400 8.085 10/01/2027
60014862 Stockert ,Cheryl Ly 9.000 .250 8.750 .0400 8.710 10/01/2027
60014863 Mouttapa ,Albert 7.875 .250 7.625 .0400 7.585 10/01/2027
60014864 Parker ,Michael J 8.125 .250 7.875 .0400 7.835 11/01/2017
60014866 King ,Robert G. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014868 Masters-shahna,Ali 8.125 .250 7.875 .0400 7.835 10/01/2027
60014869 Bartels ,Kurt 8.250 .250 8.000 .0400 7.960 11/01/2027
60014870 Jones ,Casey J 8.750 .250 8.500 .0400 8.460 10/01/2027
60014871 Hay ,Dorothy L 8.750 .250 8.500 .0400 8.460 10/01/2027
60014872 Rock ,Janet F. 8.750 .250 8.500 .0400 8.460 09/01/2027
60014873 March ,Charles E 8.250 .250 8.000 .0400 7.960 10/01/2027
60014877 Young ,Gary 8.000 .250 7.750 .0400 7.710 11/01/2027
60014879 Mercer ,Charles E 8.375 .250 8.125 .0400 8.085 10/01/2027
60014880 Halliday ,Jay F 8.750 .250 8.500 .0400 8.460 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014861 Helling ,David L. 274255 $919.69 11/01/1997 360
60014862 Stockert ,Cheryl Ly 274263 $1,132.10 11/01/1997 360
60014863 Mouttapa ,Albert 274315 $1,527.00 11/01/1997 360
60014864 Parker ,Michael J 274316 $731.95 11/01/1997 240
60014866 King ,Robert G. 274376 $611.29 11/01/1997 360
60014868 Masters-shahna,Ali 274433 $383.91 12 11/01/1997 360
60014869 Bartels ,Kurt 274438 $403.44 11/01/1997 360
60014870 Jones ,Casey J 274446 $578.22 11/01/1997 360
60014871 Hay ,Dorothy L 274449 $991.24 11/01/1997 360
60014872 Rock ,Janet F. 274452 $944.04 11/01/1997 360
60014873 March ,Charles E 274456 $976.65 11/01/1997 360
60014877 Young ,Gary 274488 $733.76 11/01/1997 360
60014879 Mercer ,Charles E 274500 $843.69 11/01/1997 360
60014880 Halliday ,Jay F 274534 $1,180.06 11/01/1997 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>
60014861 Helling ,David L. $161,500.00 N
60014862 Stockert ,Cheryl Ly $201,000.00 N
60014863 Mouttapa ,Albert $263,287.00 N
60014864 Parker ,Michael J $142,500.00 N
60014866 King ,Robert G. $118,000.00 N
60014868 Masters-shahna,Ali $57,450.00 N
60014869 Bartels ,Kurt $73,000.00 N
60014870 Jones ,Casey J $98,000.00 N
60014871 Hay ,Dorothy L $168,000.00 N
60014872 Rock ,Janet F. $170,000.00 N
60014873 March ,Charles E $204,000.00 N
60014877 Young ,Gary $125,000.00 N
60014879 Mercer ,Charles E $148,000.00 N
60014880 Halliday ,Jay F $210,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 73
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014881 Allerdice ,Ronald L. 341 East Laurel Ave Sierra Madre CA 91024 $66,916.41
60014882 Stewart ,Clarence 2826 Allison Avenue Panama City FL 32408 $73,401.03
60014883 Wang ,Chau Ran 31 Versailles Newport Beach CA 92657 $115,000.00
60014884 Chapman ,Ida P. 430 East Mesquite Street Globe AZ 85501 $68,956.01
60014885 Loquidis ,Terry 1836 North Stapley, #149 Mesa AZ 85203 $74,353.76
60014886 Davis ,James M. 23 Valley View Lane New Milford CT 6776 $108,000.00
60014887 Byal ,Clarence 19595 Summerglen Castro Valley CA 94546 $214,200.00
60014888 Ahlman ,Joseph Al 289 East 400 North #1 Provo UT 84606 $135,000.00
60014889 Anderson I I I,Stuart D. 3397 East Oakledge Road Salt Lake City UT 84121 $102,375.36
60014890 Brown ,Jerry D 2262 Railway Circle Gold River CA 95670 $109,213.59
60014892 Baez ,Ana M 11450 Sw 58 Terrace Miami FL 33173 $66,000.00
60014893 Woolley ,Beatrice 26325 Long Oak Dr Newhall CA 91321 $73,949.08
60014894 Buffington- El,Ruth 5 Carlisle Road Chestnut Ridge NY 10977 $75,000.00
60014895 St. John ,Larissa S 116 Central Park South #5 New York NY 10019 $196,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014881 Allerdice ,Ronald L. 8.375 .250 8.125 .0400 8.085 10/01/2027
60014882 Stewart ,Clarence 8.000 .250 7.750 .0400 7.710 10/01/2027
60014883 Wang ,Chau Ran 8.000 .250 7.750 .0400 7.710 11/01/2027
60014884 Chapman ,Ida P. 8.250 .250 8.000 .0400 7.960 10/01/2027
60014885 Loquidis ,Terry 8.375 .250 8.125 .0400 8.085 10/01/2027
60014886 Davis ,James M. 8.625 .250 8.375 .0400 8.335 11/01/2027
60014887 Byal ,Clarence 8.875 .250 8.625 .0400 8.585 11/01/2027
60014888 Ahlman ,Joseph Al 8.500 .250 8.250 .0400 8.210 11/01/2027
60014889 Anderson I I I,Stuart D. 8.500 .250 8.250 .0400 8.210 10/01/2027
60014890 Brown ,Jerry D 8.375 .250 8.125 .0400 8.085 09/01/2027
60014892 Baez ,Ana M 9.000 .250 8.750 .0400 8.710 11/01/2027
60014893 Woolley ,Beatrice 7.875 .250 7.625 .0400 7.585 10/01/2027
60014894 Buffington- El,Ruth 8.500 .250 8.250 .0400 8.210 11/01/2027
60014895 St. John ,Larissa S 9.000 .250 8.750 .0400 8.710 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014881 Allerdice ,Ronald L. 274543 $509.25 11/01/1997 360
60014882 Stewart ,Clarence 274546 $539.32 11/01/1997 360
60014883 Wang ,Chau Ran 274549 $843.83 11/01/1997 360
60014884 Chapman ,Ida P. 274562 $518.37 11/01/1997 360
60014885 Loquidis ,Terry 274570 $565.49 11/01/1997 360
60014886 Davis ,James M. 274574 $840.01 11/01/1997 360
60014887 Byal ,Clarence 274582 $1,704.27 2 11/01/1997 360
60014888 Ahlman ,Joseph Al 274600 $1,038.03 11/01/1997 360
60014889 Anderson I I I,Stuart D. 274602 $788.14 11/01/1997 360
60014890 Brown ,Jerry D 274635 $831.14 11/01/1997 360
60014892 Baez ,Ana M 274664 $531.06 11/01/1997 360
60014893 Woolley ,Beatrice 274674 $536.55 11/01/1997 360
60014894 Buffington- El,Ruth 274679 $576.69 11/01/1997 360
60014895 St. John ,Larissa S 274683 $1,577.06 11/01/1997 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>
60014881 Allerdice ,Ronald L. $270,000.00 N
60014882 Stewart ,Clarence $105,000.00 N
60014883 Wang ,Chau Ran $453,000.00 N
60014884 Chapman ,Ida P. $95,000.00 N
60014885 Loquidis ,Terry $93,000.00 N
60014886 Davis ,James M. $135,000.00 N
60014887 Byal ,Clarence $238,000.00 N
60014888 Ahlman ,Joseph Al $180,000.00 N
60014889 Anderson I I I,Stuart D. $137,000.00 N
60014890 Brown ,Jerry D $159,561.00 N
60014892 Baez ,Ana M $82,500.00 N
60014893 Woolley ,Beatrice $160,000.00 N
60014894 Buffington- El,Ruth $214,900.00 N
60014895 St. John ,Larissa S $280,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 74
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014896 Patenaude ,Robert J. 13809 S. 18th St. Bellevue NE 68123 $167,000.00
60014897 Bencze ,Joan 8 Stacy Drive Port Jefferson NY 11776 $198,100.00
60014901 Baker ,Sandra K 9149 North 68th Lane Peoria AZ 85345 $50,000.00
60014902 Cimarusti ,Anthony 6832 Marinvale Drive Citrus Heights CA 95621 $80,000.00
60014903 Levine ,Nancy J 20417 Lake Ridge Drive Spring Lake Tow MN 55372 $184,619.40
60014904 Diaz ,Yolanda 3535 Lacy Blvd Falls Church VA 22041 $130,000.00
60014905 Crapanzano ,Sebastian 7512 Cannock St. Las Vegas NV 89131 $117,850.00
60014906 Cole ,R David 14275 Highland Avenue Guerneville CA 95446 $200,000.00
60014907 Meriwether ,Margit S. 5625 Kristin Lane Missoula MT 59803 $110,000.00
60014908 Mughal ,Khalid 4371 Jessica Circle Fremont CA 94555 $194,400.00
60014909 Horton ,Pamela A. 1799 Crockett Lane Gardnerville NV 89410 $100,000.00
60014910 Deland ,Marty 843 South 300 East Circle Ivins UT 84738 $97,280.00
60014911 Hampton ,Glen R. 5289 West Chester Road West Valley Cit UT 84120 $197,000.00
60014912 Britt ,Leotha L. 337 Las Flores Terrace San Diego CA 92114 $108,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014896 Patenaude ,Robert J. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014897 Bencze ,Joan 8.375 .250 8.125 .0400 8.085 11/01/2027
60014901 Baker ,Sandra K 8.500 .250 8.250 .0400 8.210 11/01/2027
60014902 Cimarusti ,Anthony 8.500 .250 8.250 .0400 8.210 11/01/2027
60014903 Levine ,Nancy J 8.375 .250 8.125 .0400 8.085 10/01/2027
60014904 Diaz ,Yolanda 8.875 .250 8.625 .0400 8.585 11/01/2027
60014905 Crapanzano ,Sebastian 9.000 .250 8.750 .0400 8.710 11/01/2027
60014906 Cole ,R David 8.500 .250 8.250 .0400 8.210 11/01/2027
60014907 Meriwether ,Margit S. 7.875 .250 7.625 .0400 7.585 11/01/2027
60014908 Mughal ,Khalid 8.500 .250 8.250 .0400 8.210 11/01/2027
60014909 Horton ,Pamela A. 7.750 .250 7.500 .0400 7.460 11/01/2027
60014910 Deland ,Marty 8.625 .250 8.375 .0400 8.335 11/01/2027
60014911 Hampton ,Glen R. 8.750 .250 8.500 .0400 8.460 11/01/2027
60014912 Britt ,Leotha L. 8.500 .250 8.250 .0400 8.210 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014896 Patenaude ,Robert J. 274693 $1,284.09 11/01/1997 360
60014897 Bencze ,Joan 274706 $1,505.70 11/01/1997 360
60014901 Baker ,Sandra K 274764 $384.46 11/01/1997 360
60014902 Cimarusti ,Anthony 274766 $615.13 11/01/1997 360
60014903 Levine ,Nancy J 274770 $1,405.00 11/01/1997 360
60014904 Diaz ,Yolanda 274771 $1,034.34 11/01/1997 360
60014905 Crapanzano ,Sebastian 274798 $948.25 7 11/01/1997 360
60014906 Cole ,R David 274834 $1,537.83 11/01/1997 360
60014907 Meriwether ,Margit S. 274835 $797.58 11/01/1997 360
60014908 Mughal ,Khalid 274836 $1,494.77 11/01/1997 360
60014909 Horton ,Pamela A. 274843 $716.41 11/01/1997 360
60014910 Deland ,Marty 274850 $756.63 11/01/1997 360
60014911 Hampton ,Glen R. 274884 $1,549.80 11/01/1997 360
60014912 Britt ,Leotha L. 274901 $830.43 11/01/1997 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>
60014896 Patenaude ,Robert J. $225,000.00 N
60014897 Bencze ,Joan $283,000.00 N
60014901 Baker ,Sandra K $83,900.00 N
60014902 Cimarusti ,Anthony $100,000.00 N
60014903 Levine ,Nancy J $231,106.00 N
60014904 Diaz ,Yolanda $165,000.00 N
60014905 Crapanzano ,Sebastian $130,950.00 N
60014906 Cole ,R David $250,000.00 N
60014907 Meriwether ,Margit S. $170,000.00 N
60014908 Mughal ,Khalid $243,000.00 N
60014909 Horton ,Pamela A. $150,000.00 N
60014910 Deland ,Marty $121,600.00 N
60014911 Hampton ,Glen R. $246,270.00 N
60014912 Britt ,Leotha L. $136,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 75
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014913 Jacky ,Gary J. 308 East Republican Stree Seattle WA 98102 $100,000.00
60014914 Morris ,James W. 2954 Plaza Azul Santa Fe NM 87505 $54,000.00
60014915 Ernster ,Marlene 11768 North 135th Place Scottsdale AZ 85259 $131,250.00
60014916 Emel ,Russell W 1380 Pennyer & 825 North Cottage Grove OR 97424 $86,250.00
60014917 Fanuka ,Radenko 75-15 194th Street Flushing NY 11366 $80,000.00
60014918 Guffey ,Roger K. 5643 W. Abraham Lane Glendale AZ 85308 $177,900.21
60014919 Gallo ,Ana Maria 606 Gladstone Bellingham WA 98225 $100,000.00
60014920 Schaefer ,Todd R. 4015 Del Monte Drive Boise ID 83704 $140,000.00
60014922 Koldenhoven ,Bruce A. 816 W. Cucharras St. Colorado Spring CO 80905 $72,900.00
60014923 Talbot ,Peter 1650 Goulart Ranch Road Newcastle CA 95658 $107,500.00
60014924 O Malley ,Lynn 101 Roxie Avenue North Beach Twp NJ 8008 $148,000.00
60014925 Martin ,Judith J 9384 Lakepoint Drive Elk Grove CA 95758 $118,594.11
60014926 Palmer ,Richard S 8924 East Aster Drive Scottsdale AZ 85260 $127,852.17
60014927 Campbell ,Charles A 8225 San Bernardino Road, Rancho Cucamong CA 91730 $125,600.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014913 Jacky ,Gary J. 8.375 .250 8.125 .0400 8.085 11/01/2027
60014914 Morris ,James W. 8.250 .250 8.000 .0400 7.960 11/01/2027
60014915 Ernster ,Marlene 8.625 .250 8.375 .0400 8.335 11/01/2027
60014916 Emel ,Russell W 8.500 .250 8.250 .0400 8.210 11/01/2027
60014917 Fanuka ,Radenko 8.375 .250 8.125 .0400 8.085 11/01/2027
60014918 Guffey ,Roger K. 8.875 .250 8.625 .0400 8.585 10/01/2027
60014919 Gallo ,Ana Maria 8.125 .250 7.875 .0400 7.835 11/01/2027
60014920 Schaefer ,Todd R. 8.250 .250 8.000 .0400 7.960 11/01/2027
60014922 Koldenhoven ,Bruce A. 8.875 .250 8.625 .0400 8.585 11/01/2027
60014923 Talbot ,Peter 8.000 .250 7.750 .0400 7.710 11/01/2027
60014924 O Malley ,Lynn 8.250 .250 8.000 .0400 7.960 11/01/2027
60014925 Martin ,Judith J 8.125 .250 7.875 .0400 7.835 10/01/2027
60014926 Palmer ,Richard S 8.750 .250 8.500 .0400 8.460 10/01/2027
60014927 Campbell ,Charles A 8.875 .250 8.625 .0400 8.585 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014913 Jacky ,Gary J. 274914 $760.07 11/01/1997 360
60014914 Morris ,James W. 274932 $405.68 11/01/1997 360
60014915 Ernster ,Marlene 274939 $1,020.85 11/01/1997 360
60014916 Emel ,Russell W 274942 $663.19 11/01/1997 360
60014917 Fanuka ,Radenko 274944 $608.06 11/01/1997 360
60014918 Guffey ,Roger K. 274947 $1,416.25 11/01/1997 360
60014919 Gallo ,Ana Maria 274960 $742.49 11/01/1997 360
60014920 Schaefer ,Todd R. 274964 $1,051.77 11/01/1997 360
60014922 Koldenhoven ,Bruce A. 274974 $580.03 7 11/01/1997 360
60014923 Talbot ,Peter 274977 $788.80 11/01/1997 360
60014924 O Malley ,Lynn 275010 $1,111.88 11/01/1997 360
60014925 Martin ,Judith J 275013 $881.72 1 11/01/1997 360
60014926 Palmer ,Richard S 275039 $1,006.98 7 11/01/1997 360
60014927 Campbell ,Charles A 275040 $999.33 11/01/1997 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>
60014913 Jacky ,Gary J. $140,000.00 N
60014914 Morris ,James W. $154,000.00 N
60014915 Ernster ,Marlene $175,000.00 N
60014916 Emel ,Russell W $115,000.00 N
60014917 Fanuka ,Radenko $315,000.00 N
60014918 Guffey ,Roger K. $248,000.00 N
60014919 Gallo ,Ana Maria $128,000.00 N
60014920 Schaefer ,Todd R. $175,000.00 N
60014922 Koldenhoven ,Bruce A. $81,000.00 N
60014923 Talbot ,Peter $290,000.00 N
60014924 O Malley ,Lynn $185,000.00 N
60014925 Martin ,Judith J $131,990.00 N
60014926 Palmer ,Richard S $151,000.00 N
60014927 Campbell ,Charles A $157,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 76
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014928 Cranney ,W. Scott 93 North Church Road Park City UT 84098 $195,000.00
60014929 Ennen ,Althea M. 438 N 3rd Street River Falls WI 54022 $58,000.00
60014930 Olson II ,Kenneth D 1601 North 12th Street Boise ID 83702 $153,750.00
60014931 Lancaster ,Donald P. 465 Topaz Drive Clifton CO 81520 $67,461.16
60014932 Smith ,Bill C. 5879 Kimber Road Cashmere WA 98815 $180,000.00
60014933 Reid ,Stacy 1494 North 230 West Orem UT 84057 $140,000.00
60014934 Salamanca ,Gabriel 509 S. Lincoln Street Santa Maria CA 93454 $78,706.99
60014935 Cleverley ,Sabrina 422 East 200 North Pleasant Grove UT 84062 $203,000.00
60014937 Penoske ,Bruce R 2216 S W Perkins Avenue Pendleton OR 97801 $93,600.00
60014938 Dale ,Michael 353 Minnie Hall Road Bozeman MT 59715 $112,000.00
60014939 Davis ,Rickey C. 4614 Fairbairn Avenue Oakland CA 94619 $128,300.00
60014940 Khazzoom ,Edythe J 2418 Roosevelt Avenue Berkeley CA 94703 $172,250.00
60014941 Silveira ,Leopoldin 1021 N. College Drive Santa Maria CA 93454 $92,000.00
60014942 Atkinson ,Michael B 6326 Golden West Terrace Billings MT 59106 $79,944.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014928 Cranney ,W. Scott 8.500 .250 8.250 .0400 8.210 11/01/2027
60014929 Ennen ,Althea M. 8.750 .250 8.500 .0400 8.460 11/01/2027
60014930 Olson II ,Kenneth D 8.500 .250 8.250 .0400 8.210 11/01/2027
60014931 Lancaster ,Donald P. 8.750 .250 8.500 .0400 8.460 10/01/2027
60014932 Smith ,Bill C. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014933 Reid ,Stacy 8.250 .250 8.000 .0400 7.960 11/01/2027
60014934 Salamanca ,Gabriel 9.000 .250 8.750 .0400 8.710 10/01/2027
60014935 Cleverley ,Sabrina 8.500 .250 8.250 .0400 8.210 11/01/2027
60014937 Penoske ,Bruce R 7.875 .250 7.625 .0400 7.585 11/01/2027
60014938 Dale ,Michael 8.500 .250 8.250 .0400 8.210 11/01/2027
60014939 Davis ,Rickey C. 8.375 .250 8.125 .0400 8.085 11/01/2027
60014940 Khazzoom ,Edythe J 8.000 .250 7.750 .0400 7.710 11/01/2027
60014941 Silveira ,Leopoldin 8.750 .250 8.500 .0400 8.460 11/01/2027
60014942 Atkinson ,Michael B 7.875 .250 7.625 .0400 7.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014928 Cranney ,W. Scott 275044 $1,499.38 11/01/1997 360
60014929 Ennen ,Althea M. 275113 $456.29 11/01/1997 360
60014930 Olson II ,Kenneth D 275126 $1,182.20 11/01/1997 360
60014931 Lancaster ,Donald P. 275128 $531.03 11/01/1997 360
60014932 Smith ,Bill C. 275137 $1,384.04 11/01/1997 360
60014933 Reid ,Stacy 275141 $1,051.77 11/01/1997 360
60014934 Salamanca ,Gabriel 275142 $633.64 11/01/1997 360
60014935 Cleverley ,Sabrina 275144 $1,560.89 11/01/1997 360
60014937 Penoske ,Bruce R 275154 $678.66 11/01/1997 360
60014938 Dale ,Michael 275166 $861.18 11/01/1997 360
60014939 Davis ,Rickey C. 275170 $975.17 11/01/1997 360
60014940 Khazzoom ,Edythe J 275174 $1,263.91 11/01/1997 360
60014941 Silveira ,Leopoldin 275181 $723.76 11/01/1997 360
60014942 Atkinson ,Michael B 275182 $580.06 11/01/1997 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>
60014928 Cranney ,W. Scott $390,000.00 N
60014929 Ennen ,Althea M. $83,000.00 N
60014930 Olson II ,Kenneth D $205,000.00 N
60014931 Lancaster ,Donald P. $97,500.00 N
60014932 Smith ,Bill C. $279,000.00 N
60014933 Reid ,Stacy $178,000.00 N
60014934 Salamanca ,Gabriel $105,000.00 N
60014935 Cleverley ,Sabrina $255,000.00 N
60014937 Penoske ,Bruce R $117,000.00 N
60014938 Dale ,Michael $160,000.00 N
60014939 Davis ,Rickey C. $173,500.00 N
60014940 Khazzoom ,Edythe J $265,000.00 N
60014941 Silveira ,Leopoldin $132,000.00 N
60014942 Atkinson ,Michael B $105,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 77
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014943 Howarth ,John W. 4843 Torrington Place, #1 Sacramento CA 95842 $82,240.00
60014948 Veibell ,Alton 14015 North 400 West Collinston UT 84306 $140,000.00
60014949 Hoekema ,Stan C. 4926 Hwy 200 West Thompson Falls MT 59873 $65,000.00
60014951 Seifert ,William M 584 Elkhart Lane Grand Junction CO 81504 $93,750.00
60014952 Maguire ,Virginia 1065 S. Macon Street Aurora CO 80012 $62,250.00
60014953 Mitchell ,Christine 12404 Piscataway Road Clinton MD 20735 $60,000.00
60014954 Absher ,Louise 462 S. Balsams St. Lakewood CO 80226 $82,600.00
60014956 Light ,Ronald L 2503 Western Trails Boule Austin TX 78745 $75,000.00
60014957 Adolphe ,Nancy M. 50 Goshen Street Elmont NY 11003 $116,000.00
60014958 Cantone ,Thomas 79 Dubois Avenue Valley Stream NY 11581 $189,000.00
60014959 Ferrandino ,Angelo 16 Guinea Road Brewster NY 10509 $145,600.00
60014962 Barbier ,Gary 3471 Kimo Way Auburn CA 95602 $175,000.00
60014967 Gee ,Syd 1310 West Fort Mcdonald C Payson AZ 85541 $141,000.00
60014969 Benson ,Charles D 1924 Millington Square Bel Air MD 21015 $79,854.03
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014943 Howarth ,John W. 8.125 .250 7.875 .0400 7.835 11/01/2027
60014948 Veibell ,Alton 8.375 .250 8.125 .0400 8.085 11/01/2027
60014949 Hoekema ,Stan C. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014951 Seifert ,William M 8.500 .250 8.250 .0400 8.210 11/01/2027
60014952 Maguire ,Virginia 8.500 .250 8.250 .0400 8.210 11/01/2027
60014953 Mitchell ,Christine 8.875 .250 8.625 .0400 8.585 11/01/2027
60014954 Absher ,Louise 8.500 .250 8.250 .0400 8.210 11/01/2027
60014956 Light ,Ronald L 8.375 .250 8.125 .0400 8.085 11/01/2027
60014957 Adolphe ,Nancy M. 8.625 .250 8.375 .0400 8.335 11/01/2027
60014958 Cantone ,Thomas 8.625 .250 8.375 .0400 8.335 11/01/2027
60014959 Ferrandino ,Angelo 8.500 .250 8.250 .0400 8.210 11/01/2027
60014962 Barbier ,Gary 7.875 .250 7.625 .0400 7.585 11/01/2027
60014967 Gee ,Syd 8.875 .250 8.625 .0400 8.585 11/01/2027
60014969 Benson ,Charles D 8.750 .250 8.500 .0400 8.460 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014943 Howarth ,John W. 275186 $610.63 11/01/1997 360
60014948 Veibell ,Alton 275275 $1,064.10 11/01/1997 360
60014949 Hoekema ,Stan C. 275281 $499.79 11/01/1997 360
60014951 Seifert ,William M 275309 $720.86 11/01/1997 360
60014952 Maguire ,Virginia 275317 $478.65 11/01/1997 360
60014953 Mitchell ,Christine 275333 $477.39 11/01/1997 360
60014954 Absher ,Louise 275342 $635.12 11/01/1997 360
60014956 Light ,Ronald L 275366 $570.06 11/01/1997 360
60014957 Adolphe ,Nancy M. 275379 $902.24 11/01/1997 360
60014958 Cantone ,Thomas 275381 $1,470.02 11/01/1997 360
60014959 Ferrandino ,Angelo 275382 $1,119.54 11/01/1997 360
60014962 Barbier ,Gary 275398 $1,268.87 11/01/1997 360
60014967 Gee ,Syd 275418 $1,121.86 11/01/1997 360
60014969 Benson ,Charles D 275442 $628.57 11/01/1997 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>
60014943 Howarth ,John W. $112,900.00 N
60014948 Veibell ,Alton $200,000.00 N
60014949 Hoekema ,Stan C. $212,000.00 N
60014951 Seifert ,William M $125,000.00 N
60014952 Maguire ,Virginia $83,000.00 N
60014953 Mitchell ,Christine $146,500.00 N
60014954 Absher ,Louise $118,000.00 N
60014956 Light ,Ronald L $100,000.00 N
60014957 Adolphe ,Nancy M. $145,000.00 N
60014958 Cantone ,Thomas $270,000.00 N
60014959 Ferrandino ,Angelo $182,000.00 N
60014962 Barbier ,Gary $360,000.00 N
60014967 Gee ,Syd $188,000.00 N
60014969 Benson ,Charles D $110,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 78
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014971 Colon ,Diana J. 7345 East Thirty-first St Tucson AZ 85710 $66,515.35
60014976 Gonzalez ,Maria E. 15331 Sw 155th Court Miami FL 33187 $122,400.00
60014977 Florendo ,Herminia 2909 North Sheridan Road Chicago IL 60657 $60,000.00
60014978 Smith ,Kevin G. 489 Dal Green Place Henderson NV 89012 $95,436.77
60014979 Chang ,Chung Yee 2730 Pacheco Street San Francisco CA 94116 $150,000.00
60014980 Simon ,Craig J. 4568 East Chism Trail Phoenix AZ 85024 $152,600.00
60014981 Ruchti I I ,Robert R. 4039 Waldorf Court Las Vegas NV 89103 $114,700.00
60014982 Barnett ,Arnold I. 8899 La Manga Avenue Las Vegas NV 89117 $163,850.00
60014983 Perez ,Janie G. 836 W. Barrett Santa Maria CA 93454 $77,000.00
60014985 Bardzik ,Joan E 10410 South Ocean Drive # Jensen Beach FL 34957 $102,750.00
60014986 Martinez ,Diane L. 1632 Palopinto Avenue Glendora CA 91741 $184,000.00
60014987 Eakins ,Richard P 155 County Road 114 Idaho Springs CO 80452 $63,000.00
60014988 Williams ,Wendy L. 215 Chestnut Court San Ramon CA 94583 $194,730.72
60014989 Peng ,Fen Roo 16043 Sierra Pass Way Hacienda Height CA 91745 $99,815.42
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014971 Colon ,Diana J. 8.750 .250 8.500 .0400 8.460 05/01/2027
60014976 Gonzalez ,Maria E. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014977 Florendo ,Herminia 8.625 .250 8.375 .0400 8.335 11/01/2027
60014978 Smith ,Kevin G. 8.625 .250 8.375 .0400 8.335 10/01/2027
60014979 Chang ,Chung Yee 8.375 .250 8.125 .0400 8.085 11/01/2027
60014980 Simon ,Craig J. 8.500 .250 8.250 .0400 8.210 11/01/2027
60014981 Ruchti I I ,Robert R. 7.875 .250 7.625 .0400 7.585 11/01/2027
60014982 Barnett ,Arnold I. 8.125 .250 7.875 .0400 7.835 11/01/2027
60014983 Perez ,Janie G. 8.250 .250 8.000 .0400 7.960 11/01/2027
60014985 Bardzik ,Joan E 8.625 .250 8.375 .0400 8.335 11/01/2027
60014986 Martinez ,Diane L. 8.375 .250 8.125 .0400 8.085 11/01/2027
60014987 Eakins ,Richard P 8.875 .250 8.625 .0400 8.585 11/01/2027
60014988 Williams ,Wendy L. 7.875 .250 7.625 .0400 7.585 10/01/2027
60014989 Peng ,Fen Roo 8.000 .250 7.750 .0400 7.710 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014971 Colon ,Diana J. 275454 $525.12 11/01/1997 360
60014976 Gonzalez ,Maria E. 275483 $941.15 11/01/1997 360
60014977 Florendo ,Herminia 275488 $466.67 11/01/1997 360
60014978 Smith ,Kevin G. 275502 $743.18 11/01/1997 360
60014979 Chang ,Chung Yee 275526 $1,140.11 11/01/1997 360
60014980 Simon ,Craig J. 275529 $1,173.36 11/01/1997 360
60014981 Ruchti I I ,Robert R. 275546 $831.65 11/01/1997 360
60014982 Barnett ,Arnold I. 275550 $1,216.58 11/01/1997 360
60014983 Perez ,Janie G. 275551 $578.48 11/01/1997 360
60014985 Bardzik ,Joan E 275567 $799.18 11/01/1997 360
60014986 Martinez ,Diane L. 275568 $1,398.53 11/01/1997 360
60014987 Eakins ,Richard P 275572 $501.26 11/01/1997 360
60014988 Williams ,Wendy L. 275588 $1,413.89 11/01/1997 360
60014989 Peng ,Fen Roo 275606 $733.40 11/01/1997 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>
60014971 Colon ,Diana J. $89,000.00 N
60014976 Gonzalez ,Maria E. $153,000.00 N
60014977 Florendo ,Herminia $117,000.00 N
60014978 Smith ,Kevin G. $119,439.00 N
60014979 Chang ,Chung Yee $260,000.00 N
60014980 Simon ,Craig J. $218,000.00 N
60014981 Ruchti I I ,Robert R. $143,400.00 N
60014982 Barnett ,Arnold I. $218,500.00 N
60014983 Perez ,Janie G. $110,000.00 N
60014985 Bardzik ,Joan E $137,000.00 N
60014986 Martinez ,Diane L. $230,000.00 N
60014987 Eakins ,Richard P $87,000.00 N
60014988 Williams ,Wendy L. $265,000.00 N
60014989 Peng ,Fen Roo $133,280.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 79
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60014991 Johnson ,Craig P. 145 Blake Road Hopkins MN 55343 $140,000.00
60014992 Schaffran ,Paul 3235 S E 178th Avenue Portland OR 97236 $95,600.00
60014993 Ryan ,Valerie 957 North 400 East American Fork UT 84003 $175,000.00
60014994 Lowe ,Melvin N. 6862 East County Road 66 Wellington CO 80549 $114,300.00
60014995 Flowers ,Stanley A 5909 North Taft Hill Road Fort Collins CO 80524 $201,500.00
60014997 Zarchy ,Gary S. 15934 East Centipede Driv Fountain Hills AZ 85268 $150,312.25
60015002 Duncan ,Paul 5304 Plateau Drive Felton CA 95018 $154,192.11
60015004 Cosper ,Lindy J 721a Bull Run Eagle CO 81631 $148,500.00
60015005 Brown ,Gordon 1118 Pearl Street Key West FL 33040 $165,000.00
60015006 Williams ,Virginia 216 Lake Trail Drive Magnolia TX 77355 $73,600.00
60015009 Jackson ,Jay Vance 1082 East 28th Street Ogden UT 84403 $71,900.00
60015010 Gray ,Lawrence 2900 Whistler Road, # C30 Steamboat Sprin CO 80477 $65,250.00
60015011 Austin ,Roger Ren 0 Bend OR 97701 $187,380.43
60015012 Lee ,Dorothy A 30124 S Meadowbrook Lane Molalla OR 97038 $168,783.71
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60014991 Johnson ,Craig P. 8.750 .250 8.500 .0400 8.460 11/01/2027
60014992 Schaffran ,Paul 7.000 .250 6.750 .0400 6.710 11/01/2027
60014993 Ryan ,Valerie 8.250 .250 8.000 .0400 7.960 11/01/2027
60014994 Lowe ,Melvin N. 8.375 .250 8.125 .0400 8.085 11/01/2027
60014995 Flowers ,Stanley A 8.250 .250 8.000 .0400 7.960 11/01/2027
60014997 Zarchy ,Gary S. 8.375 .250 8.125 .0400 8.085 10/01/2027
60015002 Duncan ,Paul 8.000 .250 7.750 .0400 7.710 10/01/2027
60015004 Cosper ,Lindy J 8.125 .250 7.875 .0400 7.835 11/01/2027
60015005 Brown ,Gordon 8.125 .250 7.875 .0400 7.835 11/01/2027
60015006 Williams ,Virginia 8.875 .250 8.625 .0400 8.585 11/01/2027
60015009 Jackson ,Jay Vance 9.000 .250 8.750 .0400 8.710 11/01/2027
60015010 Gray ,Lawrence 8.000 .250 7.750 .0400 7.710 11/01/2027
60015011 Austin ,Roger Ren 8.250 .250 8.000 .0400 7.960 10/01/2027
60015012 Lee ,Dorothy A 8.250 .250 8.000 .0400 7.960 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60014991 Johnson ,Craig P. 275642 $1,101.39 11/01/1997 360
60014992 Schaffran ,Paul 275661 $636.03 11/01/1997 360
60014993 Ryan ,Valerie 275666 $1,314.72 11/01/1997 360
60014994 Lowe ,Melvin N. 275681 $868.77 11/01/1997 360
60014995 Flowers ,Stanley A 275685 $1,513.80 11/01/1997 360
60014997 Zarchy ,Gary S. 275692 $1,143.91 11/01/1997 360
60015002 Duncan ,Paul 275735 $1,132.93 11/01/1997 360
60015004 Cosper ,Lindy J 275754 $1,102.61 11/01/1997 360
60015005 Brown ,Gordon 275802 $1,225.12 11/01/1997 360
60015006 Williams ,Virginia 275806 $585.59 5 11/01/1997 360
60015009 Jackson ,Jay Vance 275835 $578.52 11/01/1997 360
60015010 Gray ,Lawrence 275844 $478.78 11/01/1997 360
60015011 Austin ,Roger Ren 275846 $1,408.63 11/01/1997 360
60015012 Lee ,Dorothy A 275856 $1,269.65 11/01/1997 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>
60014991 Johnson ,Craig P. $175,000.00 N
60014992 Schaffran ,Paul $119,500.00 N
60014993 Ryan ,Valerie $265,000.00 N
60014994 Lowe ,Melvin N. $152,500.00 N
60014995 Flowers ,Stanley A $310,000.00 N
60014997 Zarchy ,Gary S. $190,000.00 N
60015002 Duncan ,Paul $193,000.00 N
60015004 Cosper ,Lindy J $215,000.00 N
60015005 Brown ,Gordon $214,000.00 N
60015006 Williams ,Virginia $77,500.00 N
60015009 Jackson ,Jay Vance $89,900.00 N
60015010 Gray ,Lawrence $87,000.00 N
60015011 Austin ,Roger Ren $250,000.00 N
60015012 Lee ,Dorothy A $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 80
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015013 Parente ,Virginia 8352 West Oraibi Drive Peoria AZ 85382 $86,203.69
60015014 Bodmer ,William L 19652 Squaw River Lane Bend OR 97702 $76,699.18
60015015 Labagh ,Marie C. 11, 11A & 11b Chestnut Av San Rafael CA 94901 $211,699.79
60015016 HEBBRON ,Kyle 6815 Red Maple Way Citrus Heights CA 95610 $99,865.35
60015017 Allen ,Muriel M. 4831 8th Street #6 Carpinteria CA 93013 $183,700.00
60015019 Nguyen ,Tom Thuy 15828 Devonwood Way San Lorenzo CA 94580 $170,000.00
60015020 Quataert ,Pamela D 17325 Ne Tykeson Road Mcminnville OR 97128 $174,764.37
60015021 Martinez ,Paul 12726 Manor Drive Auburn CA 95603 $124,831.68
60015022 Alvear ,Jorge 13083 Nw 7th Street Pembroke Pines FL 33028 $99,300.00
60015023 Carroll ,Marilyn 1170 N Federal Highway # Fort Lauderdale FL 33304 $50,000.00
60015024 Beaton ,Leonore V 3810 16th Avenue North Saint Petersbur FL 33713 $51,900.00
60015025 Mcgoffin ,Sean L 2425 Adobe Benson AZ 85602 $128,250.00
60015026 Pickhinke ,Anthony G 20500 Kingsbury Street Chatsworth CA 91311 $210,000.00
60015027 Kyllo ,Pamela Ra 4844 Sw Dune Avenue Lincoln City OR 97367 $118,992.74
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015013 Parente ,Virginia 8.875 .250 8.625 .0400 8.585 09/01/2027
60015014 Bodmer ,William L 8.125 .250 7.875 .0400 7.835 09/01/2027
60015015 Labagh ,Marie C. 7.750 .250 7.500 .0400 7.460 10/01/2027
60015016 HEBBRON ,Kyle 8.000 .250 7.750 .0400 7.710 09/01/2027
60015017 Allen ,Muriel M. 8.000 .250 7.750 .0400 7.710 11/01/2027
60015019 Nguyen ,Tom Thuy 8.250 .250 8.000 .0400 7.960 11/01/2027
60015020 Quataert ,Pamela D 8.000 .250 7.750 .0400 7.710 09/01/2027
60015021 Martinez ,Paul 8.000 .250 7.750 .0400 7.710 09/01/2027
60015022 Alvear ,Jorge 8.375 .250 8.125 .0400 8.085 11/01/2027
60015023 Carroll ,Marilyn 8.375 .250 8.125 .0400 8.085 11/01/2027
60015024 Beaton ,Leonore V 8.375 .250 8.125 .0400 8.085 11/01/2027
60015025 Mcgoffin ,Sean L 8.375 .250 8.125 .0400 8.085 11/01/2027
60015026 Pickhinke ,Anthony G 8.125 .250 7.875 .0400 7.835 11/01/2027
60015027 Kyllo ,Pamela Ra 8.750 .250 8.500 .0400 8.460 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015013 Parente ,Virginia 275863 $687.04 11/01/1997 360
60015014 Bodmer ,William L 275866 $570.24 11/01/1997 360
60015015 Labagh ,Marie C. 275877 $1,518.79 11/01/1997 360
60015016 HEBBRON ,Kyle 275888 $733.77 11/01/1997 360
60015017 Allen ,Muriel M. 275891 $1,347.93 11/01/1997 360
60015019 Nguyen ,Tom Thuy 275901 $1,277.15 11/01/1997 360
60015020 Quataert ,Pamela D 275918 $1,284.09 11/01/1997 360
60015021 Martinez ,Paul 275947 $917.21 11/01/1997 360
60015022 Alvear ,Jorge 275969 $754.76 11/01/1997 360
60015023 Carroll ,Marilyn 275974 $380.04 11/01/1997 360
60015024 Beaton ,Leonore V 275982 $394.48 11/01/1997 360
60015025 Mcgoffin ,Sean L 276015 $974.79 7 11/01/1997 360
60015026 Pickhinke ,Anthony G 276048 $1,559.24 11/01/1997 360
60015027 Kyllo ,Pamela Ra 276049 $937.75 11/01/1997 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>
60015013 Parente ,Virginia $115,191.00 N
60015014 Bodmer ,William L $96,000.00 N
60015015 Labagh ,Marie C. $470,000.00 N
60015016 HEBBRON ,Kyle $135,000.00 N
60015017 Allen ,Muriel M. $245,000.00 N
60015019 Nguyen ,Tom Thuy $228,000.00 N
60015020 Quataert ,Pamela D $331,500.00 N
60015021 Martinez ,Paul $174,500.00 N
60015022 Alvear ,Jorge $134,650.00 N
60015023 Carroll ,Marilyn $91,000.00 N
60015024 Beaton ,Leonore V $77,000.00 N
60015025 Mcgoffin ,Sean L $142,500.00 N
60015026 Pickhinke ,Anthony G $295,000.00 N
60015027 Kyllo ,Pamela Ra $149,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 81
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015029 Carlos ,Rommel 8360 Bergthold Way Sacramento CA 95828 $67,884.78
60015030 Moore ,Aredious 2919 Hearst Court Fairfield CA 94533 $110,251.35
60015031 Johnson Black,Sarah 108 Roberts Road Taos NM 87571 $159,907.94
60015032 Lee ,Dorothy A 5839 Highway 101 North Seaside OR 97138 $159,046.19
60015033 Musselman ,Jo Ann 18131-18133 Sw Deerbrush Lake Oswego OR 97035 $125,846.78
60015034 Leek ,Donald J 7754 Magnolia Avenue Fair Oaks CA 95628 $192,771.30
60015035 Johnson ,Geri V 1423 N W 18th Place Bend OR 97701 $140,115.82
60015036 Pickering ,Richard A 5436 Chandler Road Quincy CA 95971 $91,875.00
60015037 Warrick ,Lois A. 217 Peninsula Drive Lake Almanor CA 96137 $65,954.58
60015038 Swan ,James A. 816 Chamberlain Court Mill Valley CA 94941 $190,000.00
60015039 Nguyen ,Vuong T. 8301 Marion Circle Westminster CA 92683 $100,000.00
60015040 Shields ,Richard 2219 Happy Valley Drive Medford OR 97501 $81,000.00
60015041 Stone ,Daryl R. 1804 25th Avenue Greeley CO 80631 $125,600.00
60015042 Cheng ,Chia Hsiu 2020 Pattengill Lansing MI 48910 $54,750.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015029 Carlos ,Rommel 8.875 .250 8.625 .0400 8.585 09/01/2027
60015030 Moore ,Aredious 8.000 .250 7.750 .0400 7.710 09/01/2027
60015031 Johnson Black,Sarah 8.750 .250 8.500 .0400 8.460 10/01/2027
60015032 Lee ,Dorothy A 8.250 .250 8.000 .0400 7.960 09/01/2027
60015033 Musselman ,Jo Ann 8.500 .250 8.250 .0400 8.210 09/01/2027
60015034 Leek ,Donald J 8.625 .250 8.375 .0400 8.335 10/01/2027
60015035 Johnson ,Geri V 8.125 .250 7.875 .0400 7.835 09/01/2027
60015036 Pickering ,Richard A 8.125 .250 7.875 .0400 7.835 11/01/2027
60015037 Warrick ,Lois A. 7.875 .250 7.625 .0400 7.585 10/01/2027
60015038 Swan ,James A. 8.500 .250 8.250 .0400 8.210 11/01/2027
60015039 Nguyen ,Vuong T. 7.875 .250 7.625 .0400 7.585 11/01/2027
60015040 Shields ,Richard 7.625 .250 7.375 .0400 7.335 11/01/2027
60015041 Stone ,Daryl R. 8.500 .250 8.250 .0400 8.210 11/01/2027
60015042 Cheng ,Chia Hsiu 8.875 .250 8.625 .0400 8.585 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015029 Carlos ,Rommel 276082 $541.04 11/01/1997 360
60015030 Moore ,Aredious 276086 $810.08 11/01/1997 360
60015031 Johnson Black,Sarah 276089 $1,258.73 11/01/1997 360
60015032 Lee ,Dorothy A 276101 $1,196.40 11/01/1997 360
60015033 Musselman ,Jo Ann 276110 $968.84 11/01/1997 360
60015034 Leek ,Donald J 276115 $1,501.13 11/01/1997 360
60015035 Johnson ,Geri V 276125 $1,041.73 11/01/1997 360
60015036 Pickering ,Richard A 276155 $682.17 11/01/1997 360
60015037 Warrick ,Lois A. 276157 $478.55 11/01/1997 360
60015038 Swan ,James A. 276173 $1,460.94 11/01/1997 360
60015039 Nguyen ,Vuong T. 276181 $725.07 11/01/1997 360
60015040 Shields ,Richard 276202 $573.31 11/01/1997 360
60015041 Stone ,Daryl R. 276204 $965.76 11/01/1997 360
60015042 Cheng ,Chia Hsiu 276215 $435.62 11/01/1997 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>
60015029 Carlos ,Rommel $85,000.00 N
60015030 Moore ,Aredious $138,000.00 N
60015031 Johnson Black,Sarah $200,000.00 N
60015032 Lee ,Dorothy A $245,000.00 N
60015033 Musselman ,Jo Ann $180,000.00 N
60015034 Leek ,Donald J $320,000.00 N
60015035 Johnson ,Geri V $186,000.00 N
60015036 Pickering ,Richard A $122,500.00 N
60015037 Warrick ,Lois A. $137,000.00 N
60015038 Swan ,James A. $340,000.00 N
60015039 Nguyen ,Vuong T. $175,000.00 N
60015040 Shields ,Richard $121,000.00 N
60015041 Stone ,Daryl R. $157,000.00 N
60015042 Cheng ,Chia Hsiu $73,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 82
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015043 Ash ,Richard 3060 Santa Rosa Avenue Altadena CA 91001 $138,000.00
60015044 Meyer ,Steven P. 3153 Perlett Drive Shingle Springs CA 95682 $131,917.95
60015045 Merrill ,Theodore 6450 Hawarden Drive Riverside CA 92506 $134,899.81
60015046 Rosen ,Anne Mari 1120 Bennett Avenue Glenwood Spring CO 81601 $55,000.00
60015047 Miller ,Gerald L. 1037 18th Street #9 Santa Monica CA 90403 $206,250.00
60015048 Hobbs ,William D 226 Elliott Court Columbia TN 38401 $81,000.00
60015049 Peters ,James T. 29584 S. Cramer Road Molalla OR 97038 $97,500.00
60015050 Kennedy ,Kevin R. 631 Ouray Avenue Grand Junction CO 81501 $112,500.00
60015052 Fisher ,Ken 4255 Las Virgenes Road, Calabasas CA 91302 $105,750.00
60015053 Madison ,Valerie 6710 Kurl Way (reseda Ar Los Angeles CA 91335 $104,250.00
60015054 Poulson ,Vernal Tr 450 6th Street Ogden UT 84404 $59,400.00
60015058 Anderson ,Michael L 103 North Applewood Drive Alpine UT 84004 $190,000.00
60015060 Manley ,Maureen 261 Eden Roc Road Sausalito CA 94965 $136,000.00
60015061 Blom ,Cornelius 407 North 200 West Jerome ID 83338 $70,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015043 Ash ,Richard 7.875 .250 7.625 .0400 7.585 11/01/2027
60015044 Meyer ,Steven P. 8.375 .250 8.125 .0400 8.085 10/01/2027
60015045 Merrill ,Theodore 7.500 .250 7.250 .0400 7.210 10/01/2027
60015046 Rosen ,Anne Mari 7.625 .250 7.375 .0400 7.335 11/01/2027
60015047 Miller ,Gerald L. 7.875 .250 7.625 .0400 7.585 11/01/2027
60015048 Hobbs ,William D 8.375 .250 8.125 .0400 8.085 11/01/2027
60015049 Peters ,James T. 8.000 .250 7.750 .0400 7.710 11/01/2027
60015050 Kennedy ,Kevin R. 8.750 .250 8.500 .0400 8.460 11/01/2027
60015052 Fisher ,Ken 8.000 .250 7.750 .0400 7.710 11/01/2027
60015053 Madison ,Valerie 8.375 .250 8.125 .0400 8.085 11/01/2027
60015054 Poulson ,Vernal Tr 8.750 .250 8.500 .0400 8.460 11/01/2027
60015058 Anderson ,Michael L 8.250 .250 8.000 .0400 7.960 11/01/2027
60015060 Manley ,Maureen 7.625 .250 7.375 .0400 7.335 11/01/2027
60015061 Blom ,Cornelius 8.000 .250 7.750 .0400 7.710 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015043 Ash ,Richard 276238 $1,000.60 11/01/1997 360
60015044 Meyer ,Steven P. 276255 $1,003.30 11/01/1997 360
60015045 Merrill ,Theodore 276261 $943.94 11/01/1997 360
60015046 Rosen ,Anne Mari 276265 $389.29 11/01/1997 360
60015047 Miller ,Gerald L. 276296 $1,495.46 11/01/1997 360
60015048 Hobbs ,William D 276299 $615.66 11/01/1997 360
60015049 Peters ,James T. 276326 $715.42 11/01/1997 360
60015050 Kennedy ,Kevin R. 276332 $885.04 11/01/1997 360
60015052 Fisher ,Ken 276371 $775.96 11/01/1997 360
60015053 Madison ,Valerie 276374 $792.38 11/01/1997 360
60015054 Poulson ,Vernal Tr 276378 $467.30 7 11/01/1997 360
60015058 Anderson ,Michael L 276440 $1,427.41 11/01/1997 360
60015060 Manley ,Maureen 276453 $962.60 11/01/1997 360
60015061 Blom ,Cornelius 276455 $513.64 11/01/1997 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>
60015043 Ash ,Richard $172,500.00 N
60015044 Meyer ,Steven P. $165,000.00 N
60015045 Merrill ,Theodore $286,000.00 N
60015046 Rosen ,Anne Mari $192,000.00 N
60015047 Miller ,Gerald L. $275,000.00 N
60015048 Hobbs ,William D $108,000.00 N
60015049 Peters ,James T. $183,000.00 N
60015050 Kennedy ,Kevin R. $150,000.00 N
60015052 Fisher ,Ken $141,000.00 N
60015053 Madison ,Valerie $139,000.00 N
60015054 Poulson ,Vernal Tr $66,000.00 N
60015058 Anderson ,Michael L $290,000.00 N
60015060 Manley ,Maureen $170,000.00 N
60015061 Blom ,Cornelius $177,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 83
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015062 Cox ,Ima Jean 563 And 565 Traffic Way Arroyo Grande CA 93420 $190,000.00
60015063 Oliver Jr. ,Joseph J 547 Mesa Verde Place Pleasant Hill CA 94523 $159,773.41
60015064 Neideigh ,Michael 4108 Chestnut Street Vancouver WA 98660 $98,000.00
60015065 Rowlands ,Richard A 50 East Hillsdale Boulev San Mateo CA 94403 $190,143.63
60015066 Gmur ,Scott 4817 West Avenue L-6 Area Of Quatz H CA 93536 $156,549.41
60015067 Knickel ,Steven C. 312 N. Fond Du Lac Avenue Campbellsport WI 53010 $68,250.00
60015068 Veal ,Mary H. 6415 Chestnut Hill Road Flowery Branch GA 30542 $214,500.00
60015069 Dennis ,Rodney M. 913 East Violet Drive Sandy UT 84094 $104,000.00
60015070 Mooney ,Michael W 1231 Scott Drive Cle Elum WA 98922 $162,000.00
60015071 Novak ,Alan 5320 Royer Avenue Woodland Hills CA 91367 $208,200.00
60015072 Landegger ,Robert C. 1305 Agnew Street Simi Valley CA 93065 $113,250.00
60015073 Kernan ,Matthew J 731 Whispering Bay Lane Suisun City CA 94585 $71,250.00
60015074 Vaughn ,Joseph H. 8545 S. E. 88th Avenue Portland OR 97266 $82,500.00
60015075 Knudsen ,Mikel A 1150 West 360 North #3 St George UT 84770 $53,100.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015062 Cox ,Ima Jean 8.125 .250 7.875 .0400 7.835 11/01/2027
60015063 Oliver Jr. ,Joseph J 7.750 .250 7.500 .0400 7.460 10/01/2027
60015064 Neideigh ,Michael 8.000 .250 7.750 .0400 7.710 11/01/2027
60015065 Rowlands ,Richard A 8.000 .250 7.750 .0400 7.710 10/01/2027
60015066 Gmur ,Scott 8.250 .250 8.000 .0400 7.960 10/01/2027
60015067 Knickel ,Steven C. 8.375 .250 8.125 .0400 8.085 11/01/2027
60015068 Veal ,Mary H. 7.875 .250 7.625 .0400 7.585 11/01/2027
60015069 Dennis ,Rodney M. 8.250 .250 8.000 .0400 7.960 11/01/2027
60015070 Mooney ,Michael W 8.375 .250 8.125 .0400 8.085 11/01/2027
60015071 Novak ,Alan 8.375 .250 8.125 .0400 8.085 11/01/2027
60015072 Landegger ,Robert C. 8.500 .250 8.250 .0400 8.210 11/01/2027
60015073 Kernan ,Matthew J 8.500 .250 8.250 .0400 8.210 11/01/2027
60015074 Vaughn ,Joseph H. 9.000 .250 8.750 .0400 8.710 11/01/2027
60015075 Knudsen ,Mikel A 8.625 .250 8.375 .0400 8.335 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015062 Cox ,Ima Jean 276456 $1,410.74 11/01/1997 360
60015063 Oliver Jr. ,Joseph J 276461 $1,146.26 11/01/1997 360
60015064 Neideigh ,Michael 276462 $719.09 11/01/1997 360
60015065 Rowlands ,Richard A 276465 $1,397.09 11/01/1997 360
60015066 Gmur ,Scott 276492 $1,177.61 5 11/01/1997 360
60015067 Knickel ,Steven C. 276503 $518.75 11/01/1997 360
60015068 Veal ,Mary H. 276508 $1,555.27 11/01/1997 360
60015069 Dennis ,Rodney M. 276519 $781.32 11/01/1997 360
60015070 Mooney ,Michael W 276532 $1,231.32 11/01/1997 360
60015071 Novak ,Alan 276571 $1,582.47 11/01/1997 360
60015072 Landegger ,Robert C. 276584 $870.79 11/01/1997 360
60015073 Kernan ,Matthew J 276586 $547.85 11/01/1997 360
60015074 Vaughn ,Joseph H. 276593 $663.81 11/01/1997 360
60015075 Knudsen ,Mikel A 276624 $413.01 5 11/01/1997 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>
60015062 Cox ,Ima Jean $237,500.00 N
60015063 Oliver Jr. ,Joseph J $231,000.00 N
60015064 Neideigh ,Michael $144,000.00 N
60015065 Rowlands ,Richard A $238,000.00 N
60015066 Gmur ,Scott $165,000.00 N
60015067 Knickel ,Steven C. $105,000.00 N
60015068 Veal ,Mary H. $295,000.00 N
60015069 Dennis ,Rodney M. $130,000.00 N
60015070 Mooney ,Michael W $220,000.00 N
60015071 Novak ,Alan $260,250.00 N
60015072 Landegger ,Robert C. $151,000.00 N
60015073 Kernan ,Matthew J $95,000.00 N
60015074 Vaughn ,Joseph H. $110,000.00 N
60015075 Knudsen ,Mikel A $59,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 84
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015076 Mc Bride ,Elizabeth 111 Prospect Street Petaluma CA 94952 $148,950.00
60015077 Farley ,Kit 472 Crestvale Drive Sierra Madre CA 91024 $205,230.25
60015079 Cosenza ,Lisa Park 27115 Manor Circle, ( Va Los Angeles CA 91355 $131,920.00
60015080 Pryor ,JAMES M 6220 Ammons Drive Arvada CO 80004 $89,700.00
60015081 Pruitt ,Willie L 19121 Old Highway 49 Saucier MS 39574 $200,700.00
60015082 Kilpatrick ,Russell A 10555 Highway 2 East Coram MT 59913 $159,000.00
60015083 Carter ,Lloyd W 17 E Upper Round Valley R Payson AZ 85541 $74,400.00
60015084 Hilligoss ,William R 1925 Caliente Drive Palm Springs CA 92264 $192,000.00
60015085 Lauten ,Bernard F 300 Fox Chapel Road, #212 Pittsburgh PA 15238 $75,000.00
60015086 Foltz ,Rex E 110 Gordon Lane Castle Rock CO 80104 $164,000.00
60015087 Switzer ,John 5055 Bella Noches Loop Las Cruces NM 88011 $139,811.50
60015088 Truong ,Quang 3828 West Ocotillo Road Phoenix AZ 85019 $58,500.00
60015089 Smith ,Laura E. 7100 N E Fairway Avenue Vancouver WA 98662 $164,000.00
60015090 Himler ,Edward G. 19400 N E Halsey Street Portland OR 97230 $93,750.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015076 Mc Bride ,Elizabeth 8.250 .250 8.000 .0400 7.960 11/01/2027
60015077 Farley ,Kit 8.125 .250 7.875 .0400 7.835 10/01/2027
60015079 Cosenza ,Lisa Park 7.500 .250 7.250 .0400 7.210 11/01/2027
60015080 Pryor ,JAMES M 8.125 .250 7.875 .0400 7.835 11/01/2027
60015081 Pruitt ,Willie L 8.625 .250 8.375 .0400 8.335 11/01/2027
60015082 Kilpatrick ,Russell A 8.500 .250 8.250 .0400 8.210 11/01/2027
60015083 Carter ,Lloyd W 8.500 .250 8.250 .0400 8.210 11/01/2027
60015084 Hilligoss ,William R 8.000 .250 7.750 .0400 7.710 11/01/2027
60015085 Lauten ,Bernard F 7.500 .250 7.250 .0400 7.210 11/01/2027
60015086 Foltz ,Rex E 8.125 .250 7.875 .0400 7.835 11/01/2027
60015087 Switzer ,John 8.000 .250 7.750 .0400 7.710 09/01/2027
60015088 Truong ,Quang 8.500 .250 8.250 .0400 8.210 11/01/2027
60015089 Smith ,Laura E. 8.500 .250 8.250 .0400 8.210 11/01/2027
60015090 Himler ,Edward G. 9.000 .250 8.750 .0400 8.710 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015076 Mc Bride ,Elizabeth 276625 $1,119.01 12 11/01/1997 360
60015077 Farley ,Kit 276660 $1,525.83 11/01/1997 360
60015079 Cosenza ,Lisa Park 276692 $922.40 11/01/1997 360
60015080 Pryor ,JAMES M 276694 $666.02 11/01/1997 360
60015081 Pruitt ,Willie L 276703 $1,561.03 7 11/01/1997 360
60015082 Kilpatrick ,Russell A 276727 $1,222.57 11/01/1997 360
60015083 Carter ,Lloyd W 276740 $572.07 11/01/1997 360
60015084 Hilligoss ,William R 276741 $1,408.83 11/01/1997 360
60015085 Lauten ,Bernard F 276770 $524.42 11/01/1997 360
60015086 Foltz ,Rex E 276777 $1,217.70 11/01/1997 360
60015087 Switzer ,John 276795 $1,027.27 11/01/1997 360
60015088 Truong ,Quang 276803 $449.81 11/01/1997 360
60015089 Smith ,Laura E. 276849 $1,261.02 11/01/1997 360
60015090 Himler ,Edward G. 276855 $754.33 11/01/1997 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>
60015076 Mc Bride ,Elizabeth $165,500.00 N
60015077 Farley ,Kit $274,000.00 N
60015079 Cosenza ,Lisa Park $164,900.00 N
60015080 Pryor ,JAMES M $138,000.00 N
60015081 Pruitt ,Willie L $223,000.00 N
60015082 Kilpatrick ,Russell A $212,000.00 N
60015083 Carter ,Lloyd W $93,000.00 N
60015084 Hilligoss ,William R $240,000.00 N
60015085 Lauten ,Bernard F $145,000.00 N
60015086 Foltz ,Rex E $205,000.00 N
60015087 Switzer ,John $220,000.00 N
60015088 Truong ,Quang $78,000.00 N
60015089 Smith ,Laura E. $220,000.00 N
60015090 Himler ,Edward G. $125,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 85
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015091 Syers ,James O. 7124 Madera Drive Goleta CA 93117 $179,950.00
60015094 Brown, Jr. ,Layne G. 3616 G Road Palisade CO 81526 $175,763.02
60015095 Trieu ,Thomas P 7841 Orchid Drive Huntington Beac CA 92648 $202,400.00
60015096 Tavori ,Jennifer 432 City View Lane Grand Junction CO 81503 $115,363.13
60015097 Albert ,Mark Yoji 110 Clinton Avenue Hillsdale NJ 7642 $150,000.00
60015098 Shelton ,Marie J. 612 Flower Drive Folsom CA 95630 $121,600.00
60015099 Schwartau ,William K 10 Wailea Ekolu Place Uni Kihei HI 96753 $213,750.00
60015102 Knoblauch ,Sue Ann O 426 Devonshire Drive San Antonio TX 78209 $62,469.95
60015103 Rocha ,Helio A 2412 Sagepoint Circle Las Vegas NV 89128 $115,000.00
60015104 Meinert ,James E. 542 North Sixth Street Grover Beach CA 93433 $118,927.91
60015105 Beyer ,James F 301 West 32nd Street Durango CO 81301 $180,000.00
60015106 Hester ,Bryan L. 3398 62.00 Road Olathe CO 81425 $80,000.00
60015107 Holmes And Ass, 467 East Henry Day Court Draper UT 84020 $150,000.00
60015108 Feak ,Richard W 10942 SW Hawk View Circle Stuart FL 34997 $167,898.23
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015091 Syers ,James O. 8.500 .250 8.250 .0400 8.210 11/01/2027
60015094 Brown, Jr. ,Layne G. 8.000 .250 7.750 .0400 7.710 10/01/2027
60015095 Trieu ,Thomas P 8.250 .250 8.000 .0400 7.960 11/01/2027
60015096 Tavori ,Jennifer 8.625 .250 8.375 .0400 8.335 10/01/2027
60015097 Albert ,Mark Yoji 7.750 .250 7.500 .0400 7.460 11/01/2027
60015098 Shelton ,Marie J. 7.500 .250 7.250 .0400 7.210 11/01/2027
60015099 Schwartau ,William K 8.250 .250 8.000 .0400 7.960 11/01/2027
60015102 Knoblauch ,Sue Ann O 8.250 .250 8.000 .0400 7.960 10/01/2027
60015103 Rocha ,Helio A 8.375 .250 8.125 .0400 8.085 11/01/2027
60015104 Meinert ,James E. 8.500 .250 8.250 .0400 8.210 10/01/2027
60015105 Beyer ,James F 8.375 .250 8.125 .0400 8.085 11/01/2027
60015106 Hester ,Bryan L. 8.500 .250 8.250 .0400 8.210 11/01/2027
60015107 Holmes And Ass, 8.875 .250 8.625 .0400 8.585 11/01/2027
60015108 Feak ,Richard W 8.500 .250 8.250 .0400 8.210 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015091 Syers ,James O. 276888 $1,383.66 11/01/1997 360
60015094 Brown, Jr. ,Layne G. 276939 $1,291.43 11/01/1997 360
60015095 Trieu ,Thomas P 276944 $1,520.56 11/01/1997 360
60015096 Tavori ,Jennifer 276947 $898.35 11/01/1997 360
60015097 Albert ,Mark Yoji 276960 $1,074.62 11/01/1997 360
60015098 Shelton ,Marie J. 276969 $850.24 11/01/1997 360
60015099 Schwartau ,William K 276980 $1,605.83 11/01/1997 360
60015102 Knoblauch ,Sue Ann O 277009 $469.92 7 11/01/1997 360
60015103 Rocha ,Helio A 277019 $874.08 11/01/1997 360
60015104 Meinert ,James E. 277024 $915.01 11/01/1997 360
60015105 Beyer ,James F 277025 $1,368.13 11/01/1997 360
60015106 Hester ,Bryan L. 277033 $615.13 11/01/1997 360
60015107 Holmes And Ass, 277043 $1,193.47 11/01/1997 360
60015108 Feak ,Richard W 277049 $1,291.77 11/01/1997 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>
60015091 Syers ,James O. $240,000.00 N
60015094 Brown, Jr. ,Layne G. $220,000.00 N
60015095 Trieu ,Thomas P $269,900.00 N
60015096 Tavori ,Jennifer $165,000.00 N
60015097 Albert ,Mark Yoji $203,000.00 N
60015098 Shelton ,Marie J. $152,000.00 N
60015099 Schwartau ,William K $285,000.00 N
60015102 Knoblauch ,Sue Ann O $69,500.00 N
60015103 Rocha ,Helio A $154,000.00 N
60015104 Meinert ,James E. $165,000.00 N
60015105 Beyer ,James F $236,000.00 N
60015106 Hester ,Bryan L. $105,000.00 N
60015107 Holmes And Ass, $250,000.00 N
60015108 Feak ,Richard W $225,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 86
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015109 Kennedy ,Donald W. 4947 Laurel Avenue Grants Pass OR 97527 $74,400.00
60015110 Johnson ,Gene 134 Shorebird Circle Redwood City CA 94065 $189,000.00
60015111 Richie ,Robert L 9900 S W 139 Street Miami FL 33176 $159,100.00
60015112 Newell ,Judith W. 42 Old Framingham Road Sudbury MA 1776 $50,000.00
60015113 Linetsky ,Semyon 125 N. Gale Drive # 305 Beverly Hills CA 90211 $192,000.00
60015114 El- Sadek ,Mohamad R 9970 S W 151st Avenue Beaverton OR 97007 $146,000.00
60015116 Szlendak ,John J 612 Brown Avenue Fort Collins CO 80525 $103,500.00
60015117 Cryns ,Ellen M 2015 Cross St. Seaside CA 93955 $148,000.00
60015118 May ,Richard D 100 Laurelhurst Street Central Point OR 97502 $60,750.00
60015119 Kitchen ,Susan Lei 8396 East Mineral Drive Englewood CO 80112 $117,250.00
60015121 Gonzalez ,Martha Lu 6801 S. W. 17 Street Miami FL 33155 $120,000.00
60015122 Parker ,Kenneth L 219 East Kelso Street Tucson AZ 85705 $56,188.32
60015123 Andrews ,Loyce E. 1224 Undine Street Bellingham WA 98226 $139,500.00
60015124 Allen ,Murray Mi 637 East 200 South Spanish Fork UT 84660 $73,500.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015109 Kennedy ,Donald W. 8.875 .250 8.625 .0400 8.585 11/01/2027
60015110 Johnson ,Gene 8.625 .250 8.375 .0400 8.335 11/01/2027
60015111 Richie ,Robert L 8.375 .250 8.125 .0400 8.085 11/01/2027
60015112 Newell ,Judith W. 8.375 .250 8.125 .0400 8.085 11/01/2027
60015113 Linetsky ,Semyon 7.875 .250 7.625 .0400 7.585 11/01/2027
60015114 El- Sadek ,Mohamad R 8.375 .250 8.125 .0400 8.085 11/01/2027
60015116 Szlendak ,John J 8.625 .250 8.375 .0400 8.335 11/01/2027
60015117 Cryns ,Ellen M 7.875 .250 7.625 .0400 7.585 11/01/2027
60015118 May ,Richard D 8.250 .250 8.000 .0400 7.960 11/01/2027
60015119 Kitchen ,Susan Lei 8.750 .250 8.500 .0400 8.460 11/01/2027
60015121 Gonzalez ,Martha Lu 8.500 .250 8.250 .0400 8.210 11/01/2027
60015122 Parker ,Kenneth L 9.000 .250 8.750 .0400 8.710 10/01/2027
60015123 Andrews ,Loyce E. 8.250 .250 8.000 .0400 7.960 11/01/2027
60015124 Allen ,Murray Mi 8.625 .250 8.375 .0400 8.335 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015109 Kennedy ,Donald W. 277066 $591.96 11/01/1997 360
60015110 Johnson ,Gene 277071 $1,470.02 11/01/1997 360
60015111 Richie ,Robert L 277078 $1,209.28 11/01/1997 360
60015112 Newell ,Judith W. 277099 $380.04 11/01/1997 360
60015113 Linetsky ,Semyon 277105 $1,392.13 11/01/1997 360
60015114 El- Sadek ,Mohamad R 277120 $1,109.71 11/01/1997 360
60015116 Szlendak ,John J 277136 $805.01 11/01/1997 360
60015117 Cryns ,Ellen M 277146 $1,073.10 11/01/1997 360
60015118 May ,Richard D 277147 $456.39 11/01/1997 360
60015119 Kitchen ,Susan Lei 277149 $922.41 11/01/1997 360
60015121 Gonzalez ,Martha Lu 277208 $922.70 11/01/1997 360
60015122 Parker ,Kenneth L 277296 $452.60 11/01/1997 360
60015123 Andrews ,Loyce E. 277297 $1,048.02 11/01/1997 360
60015124 Allen ,Murray Mi 277315 $571.68 11/01/1997 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>
60015109 Kennedy ,Donald W. $93,000.00 N
60015110 Johnson ,Gene $210,000.00 N
60015111 Richie ,Robert L $215,000.00 N
60015112 Newell ,Judith W. $280,000.00 N
60015113 Linetsky ,Semyon $240,000.00 N
60015114 El- Sadek ,Mohamad R $196,000.00 N
60015116 Szlendak ,John J $138,000.00 N
60015117 Cryns ,Ellen M $185,000.00 N
60015118 May ,Richard D $81,000.00 N
60015119 Kitchen ,Susan Lei $167,500.00 N
60015121 Gonzalez ,Martha Lu $150,000.00 N
60015122 Parker ,Kenneth L $75,000.00 N
60015123 Andrews ,Loyce E. $188,000.00 N
60015124 Allen ,Murray Mi $98,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 87
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015125 Lande ,Phillip A 4793 Scott Allen Drive Missoula MT 59803 $100,000.00
60015126 Nye ,Bruce A. 1731 Gelbke Lane Concord CA 94520 $128,800.00
60015127 Bently ,Carl 251 Blue Creek Rd. Pagosa Springs CO 81147 $86,000.00
60015129 Sheppard ,Duane 10970 Butte Falls Highway Eagle Point OR 97524 $139,000.00
60015131 Krause ,Larry W. 109 Northeast 109th Avenu Portland OR 97220 $108,750.00
60015133 Huynh ,Yung 807 / 811 Northwest Elm S Camas WA 98604 $120,000.00
60015134 Walters ,Timothy J 2774 Northwest Savier Str Portland OR 97210 $112,500.00
60015135 Walters ,Timonthy 2845 Northwest Thurman St Portland OR 97210 $116,000.00
60015136 Novobilski ,Carl G. 3850 East Lupine Avenue Phoenix AZ 85028 $96,000.00
60015137 Thomas ,Curtis A. 4685 - 4695 Everett Stree Wheatridge CO 80033 $145,300.00
60015139 Terracino ,Thomas J 14 Comstock Trail Unit #4 Brookfield CT 6804 $108,627.63
60015140 Broback ,William A 14967 Ember Court Apple Valley MN 55124 $111,900.00
60015141 Bauer ,Robert L. 69-1035 Kaena Place #306 Waikoloa HI 96738 $191,250.00
60015142 Fielder-moss ,Susan 3211 Sesbania Drive Austin TX 78748 $103,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015125 Lande ,Phillip A 7.625 .250 7.375 .0400 7.335 11/01/2027
60015126 Nye ,Bruce A. 8.500 .250 8.250 .0400 8.210 11/01/2027
60015127 Bently ,Carl 8.125 .250 7.875 .0400 7.835 11/01/2027
60015129 Sheppard ,Duane 8.375 .250 8.125 .0400 8.085 11/01/2027
60015131 Krause ,Larry W. 8.625 .250 8.375 .0400 8.335 11/01/2027
60015133 Huynh ,Yung 8.625 .250 8.375 .0400 8.335 11/01/2027
60015134 Walters ,Timothy J 8.500 .250 8.250 .0400 8.210 11/01/2027
60015135 Walters ,Timonthy 8.500 .250 8.250 .0400 8.210 11/01/2027
60015136 Novobilski ,Carl G. 8.500 .250 8.250 .0400 8.210 11/01/2027
60015137 Thomas ,Curtis A. 8.875 .250 8.625 .0400 8.585 11/01/2027
60015139 Terracino ,Thomas J 8.875 .250 8.625 .0400 8.585 10/01/2027
60015140 Broback ,William A 8.750 .250 8.500 .0400 8.460 11/01/2027
60015141 Bauer ,Robert L. 8.375 .250 8.125 .0400 8.085 11/01/2027
60015142 Fielder-moss ,Susan 7.875 .250 7.625 .0400 7.585 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015125 Lande ,Phillip A 277337 $707.79 11/01/1997 360
60015126 Nye ,Bruce A. 277362 $990.36 11/01/1997 360
60015127 Bently ,Carl 277377 $638.55 11/01/1997 360
60015129 Sheppard ,Duane 277388 $1,056.50 11/01/1997 360
60015131 Krause ,Larry W. 277394 $845.85 11/01/1997 360
60015133 Huynh ,Yung 277398 $933.35 11/01/1997 360
60015134 Walters ,Timothy J 277399 $865.03 7 11/01/1997 360
60015135 Walters ,Timonthy 277401 $891.94 11/01/1997 360
60015136 Novobilski ,Carl G. 277407 $738.16 11/01/1997 360
60015137 Thomas ,Curtis A. 277423 $1,156.07 11/01/1997 360
60015139 Terracino ,Thomas J 277446 $865.26 11/01/1997 360
60015140 Broback ,William A 277451 $880.32 11/01/1997 360
60015141 Bauer ,Robert L. 277458 $1,453.64 11/01/1997 360
60015142 Fielder-moss ,Susan 277512 $746.82 11/01/1997 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>
60015125 Lande ,Phillip A $158,365.00 N
60015126 Nye ,Bruce A. $161,000.00 N
60015127 Bently ,Carl $450,000.00 N
60015129 Sheppard ,Duane $251,500.00 N
60015131 Krause ,Larry W. $145,000.00 N
60015133 Huynh ,Yung $150,000.00 N
60015134 Walters ,Timothy J $125,000.00 N
60015135 Walters ,Timonthy $145,000.00 N
60015136 Novobilski ,Carl G. $120,000.00 N
60015137 Thomas ,Curtis A. $185,000.00 N
60015139 Terracino ,Thomas J $145,000.00 N
60015140 Broback ,William A $140,000.00 N
60015141 Bauer ,Robert L. $255,000.00 N
60015142 Fielder-moss ,Susan $128,750.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 88
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015143 Eid ,Mushira 963 South 800 East Salt Lake City UT 84105 $164,700.00
60015144 Shao ,Olivia L. 5553 North Charlotte Aven Pomona CA 91766 $123,341.96
60015145 Sarkisyan ,Zohrab 12256 Lull Street North Hollywood CA 91605 $89,600.00
60015146 Hernandez ,Solomon 12000 Hatteras Street North Hollywood CA 91607 $125,400.00
60015147 Close ,Mary Jane 2611 West Wilshire Boulev Norman OK 73026 $176,000.00
60015148 Snow George ,Linda J. 2180 South 800 West Woods Cross UT 84087 $111,200.00
60015151 Swenson ,Scott 7086 Meadowlark Lane Sheridan CA 95681 $82,500.00
60015152 Sundberg ,Stephanie 1141 N. Washington Loveland CO 80537 $64,800.00
60015154 Parker, Sr. ,Kenneth L 1107 East 9th Street Tucson AZ 85719 $54,750.00
60015155 Foley ,Tammy Rae 499 Halsey Ave. San Jose CA 95128 $213,750.00
60015157 Furnell ,Cindy A. 1850 N E 56th Court Fort Lauderdale FL 33308 $149,000.00
60015158 Elmer ,Harold 1161 Ski Hill Road Unit 1 Breckenridge CO 80424 $100,000.00
60015159 Ramsey Jr ,James Wil 2626 Anthony Lane Missoula MT 59803 $156,000.00
60015160 Reddington ,Catherine 32 Chesterfield Rd. Milton MA 2186 $160,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015143 Eid ,Mushira 9.000 .250 8.750 .0400 8.710 11/01/2027
60015144 Shao ,Olivia L. 8.250 .250 8.000 .0400 7.960 10/01/2027
60015145 Sarkisyan ,Zohrab 7.875 .250 7.625 .0400 7.585 11/01/2027
60015146 Hernandez ,Solomon 8.250 .250 8.000 .0400 7.960 11/01/2027
60015147 Close ,Mary Jane 8.875 .250 8.625 .0400 8.585 11/01/2027
60015148 Snow George ,Linda J. 8.625 .250 8.375 .0400 8.335 11/01/2027
60015151 Swenson ,Scott 8.625 .250 8.375 .0400 8.335 11/01/2027
60015152 Sundberg ,Stephanie 8.375 .250 8.125 .0400 8.085 11/01/2027
60015154 Parker, Sr. ,Kenneth L 9.000 .250 8.750 .0400 8.710 11/01/2027
60015155 Foley ,Tammy Rae 8.375 .250 8.125 .0400 8.085 11/01/2027
60015157 Furnell ,Cindy A. 8.750 .250 8.500 .0400 8.460 11/01/2027
60015158 Elmer ,Harold 8.750 .250 8.500 .0400 8.460 11/01/2027
60015159 Ramsey Jr ,James Wil 8.000 .250 7.750 .0400 7.710 11/01/2027
60015160 Reddington ,Catherine 8.625 .250 8.375 .0400 8.335 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015143 Eid ,Mushira 277560 $1,325.21 5 11/01/1997 360
60015144 Shao ,Olivia L. 277590 $927.81 11/01/1997 360
60015145 Sarkisyan ,Zohrab 277604 $649.66 11/01/1997 360
60015146 Hernandez ,Solomon 277605 $942.09 7 11/01/1997 360
60015147 Close ,Mary Jane 277638 $1,400.33 11/01/1997 360
60015148 Snow George ,Linda J. 277639 $864.90 11/01/1997 360
60015151 Swenson ,Scott 277664 $641.68 11/01/1997 360
60015152 Sundberg ,Stephanie 277675 $492.53 11/01/1997 360
60015154 Parker, Sr. ,Kenneth L 277695 $440.53 11/01/1997 360
60015155 Foley ,Tammy Rae 277704 $1,624.65 11/01/1997 360
60015157 Furnell ,Cindy A. 277799 $1,172.19 11/01/1997 360
60015158 Elmer ,Harold 277803 $786.70 11/01/1997 360
60015159 Ramsey Jr ,James Wil 277816 $1,144.67 11/01/1997 360
60015160 Reddington ,Catherine 277822 $1,244.46 11/01/1997 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>
60015143 Eid ,Mushira $182,500.00 N
60015144 Shao ,Olivia L. $210,000.00 N
60015145 Sarkisyan ,Zohrab $112,000.00 N
60015146 Hernandez ,Solomon $132,000.00 N
60015147 Close ,Mary Jane $220,000.00 N
60015148 Snow George ,Linda J. $139,062.00 N
60015151 Swenson ,Scott $105,000.00 N
60015152 Sundberg ,Stephanie $81,000.00 N
60015154 Parker, Sr. ,Kenneth L $73,000.00 N
60015155 Foley ,Tammy Rae $285,000.00 N
60015157 Furnell ,Cindy A. $199,000.00 N
60015158 Elmer ,Harold $125,000.00 N
60015159 Ramsey Jr ,James Wil $195,000.00 N
60015160 Reddington ,Catherine $226,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 89
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015161 Parker, Sr. ,Kenneth L 4613 East Duncan Street Tucson AZ 85712 $59,250.00
60015162 Semler ,R. Parker 2714-2718 N. Clay St. Denver CO 80218 $108,000.00
60015163 Lilov ,Vladimir 91 Continental Road Parsippany NJ 7950 $138,576.92
60015164 Craine ,Gayle 160 Keonekai Road Unit 1 Kihei HI 96753 $58,000.00
60015166 Hall ,Ronald S 413 Box Wood Circle Winter Springs FL 32708 $57,750.00
60015167 Giannini ,Angelo 1455 Marvin Lane Seaford NY 11783 $151,200.00
60015168 Wood ,Barbara 4337 Marina City Drive #6 Marina Del Rey CA 90292 $92,000.00
60015169 Friedman ,Gregory 3327 Caroline Avenue Culver City CA 90232 $115,931.51
60015170 Nutt ,Donald R. 1493 Sandy Lane Lakeport CA 95453 $157,787.26
60015171 Mariato ,Mary 1604 Mt. Hamilton Drive Antioch CA 94509 $109,473.42
60015172 Weaver ,David R. 69 County Road 645 Grand Lake CO 80447 $119,920.00
60015173 Hummel ,Paul D. 1715 Huago Ct. Loveland CO 80537 $157,400.00
60015174 Ford ,John C. 1800 Truman Creek Road Kila MT 59920 $83,000.00
60015175 Escobar ,Nerfen A. 9327 Brookpark Road Downey CA 90240 $82,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015161 Parker, Sr. ,Kenneth L 8.875 .250 8.625 .0400 8.585 11/01/2027
60015162 Semler ,R. Parker 8.000 .250 7.750 .0400 7.710 11/01/2027
60015163 Lilov ,Vladimir 8.375 .250 8.125 .0400 8.085 10/01/2027
60015164 Craine ,Gayle 8.000 .250 7.750 .0400 7.710 11/01/2027
60015166 Hall ,Ronald S 8.500 .250 8.250 .0400 8.210 11/01/2027
60015167 Giannini ,Angelo 8.750 .250 8.500 .0400 8.460 11/01/2027
60015168 Wood ,Barbara 8.250 .250 8.000 .0400 7.960 11/01/2027
60015169 Friedman ,Gregory 8.625 .250 8.375 .0400 8.335 10/01/2027
60015170 Nutt ,Donald R. 8.000 .250 7.750 .0400 7.710 10/01/2027
60015171 Mariato ,Mary 8.750 .250 8.500 .0400 8.460 10/01/2027
60015172 Weaver ,David R. 8.000 .250 7.750 .0400 7.710 11/01/2027
60015173 Hummel ,Paul D. 8.375 .250 8.125 .0400 8.085 11/01/2027
60015174 Ford ,John C. 8.750 .250 8.500 .0400 8.460 11/01/2027
60015175 Escobar ,Nerfen A. 8.000 .250 7.750 .0400 7.710 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015161 Parker, Sr. ,Kenneth L 277825 $471.42 11/01/1997 360
60015162 Semler ,R. Parker 277830 $792.47 11/01/1997 360
60015163 Lilov ,Vladimir 277832 $1,054.60 11/01/1997 360
60015164 Craine ,Gayle 277880 $425.58 11/01/1997 360
60015166 Hall ,Ronald S 277913 $444.05 11/01/1997 360
60015167 Giannini ,Angelo 277940 $1,189.49 11/01/1997 360
60015168 Wood ,Barbara 277952 $691.17 11/01/1997 360
60015169 Friedman ,Gregory 277976 $902.24 11/01/1997 360
60015170 Nutt ,Donald R. 277977 $1,159.35 11/01/1997 360
60015171 Mariato ,Mary 277980 $862.23 11/01/1997 360
60015172 Weaver ,David R. 278020 $879.93 11/01/1997 360
60015173 Hummel ,Paul D. 278039 $1,196.35 11/01/1997 360
60015174 Ford ,John C. 278046 $652.96 11/01/1997 360
60015175 Escobar ,Nerfen A. 278055 $601.69 11/01/1997 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>
60015161 Parker, Sr. ,Kenneth L $79,000.00 N
60015162 Semler ,R. Parker $171,500.00 N
60015163 Lilov ,Vladimir $185,000.00 N
60015164 Craine ,Gayle $110,000.00 N
60015166 Hall ,Ronald S $77,000.00 N
60015167 Giannini ,Angelo $189,000.00 N
60015168 Wood ,Barbara $115,000.00 N
60015169 Friedman ,Gregory $145,000.00 N
60015170 Nutt ,Donald R. $277,500.00 N
60015171 Mariato ,Mary $137,000.00 N
60015172 Weaver ,David R. $149,900.00 N
60015173 Hummel ,Paul D. $196,760.00 N
60015174 Ford ,John C. $118,000.00 N
60015175 Escobar ,Nerfen A. $210,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 90
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015176 Cates ,David C. 94 Jones Creek Lane Pine CO 80470 $175,500.00
60015177 Lincoln ,Charles A 5 & 6 Oak Place Framingham MA 1702 $105,000.00
60015181 Zimick ,Robert 1462 C River Road Edgewater NJ 7020 $188,000.00
60015182 Wallace ,Darrell 1058-1060 East 6th Street Long Beach CA 90802 $98,888.59
60015183 Lafrenierre ,Larry 604 Stan Dr Grand Junction CO 81504 $90,900.00
60015185 Constance Clar,Constance 4 Quaker Road Norwalk CT 6854 $84,896.64
60015186 Capsuoto ,Dianne 15437 North Cameo Drive Sun City AZ 85351 $82,100.00
60015188 Young ,Corienne Lot J18 Ridgway CO 81432 $199,862.36
60015190 Viera ,Richard 5655 & 5665 W Ellsworth A Lakewood CO 80226 $119,857.79
60015191 Miranda ,Jose A. 68 East 64 Street Hialeah FL 33013 $75,000.00
60015195 Stopp ,Dale A 3111 Sw 46th Street Redmond OR 97756 $69,828.57
60015196 Whitman ,Judith 2738 Angus Street Los Angeles CA 90039 $157,300.00
60015197 Nordstrom ,Rodney R 661 Ridgeview Lane Peoria IL 61604 $61,023.79
60015198 Lyons ,Ned M 27315 144th Avenue South Kent WA 98031 $77,823.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015176 Cates ,David C. 8.000 .250 7.750 .0400 7.710 11/01/2027
60015177 Lincoln ,Charles A 9.000 .250 8.750 .0400 8.710 11/01/2027
60015181 Zimick ,Robert 8.875 .250 8.625 .0400 8.585 11/01/2027
60015182 Wallace ,Darrell 8.875 .250 8.625 .0400 8.585 10/01/2027
60015183 Lafrenierre ,Larry 8.875 .250 8.625 .0400 8.585 11/01/2027
60015185 Constance Clar,Constance 8.500 .250 8.250 .0400 8.210 10/01/2027
60015186 Capsuoto ,Dianne 7.625 .250 7.375 .0400 7.335 11/01/2027
60015188 Young ,Corienne 7.875 .250 7.625 .0400 7.585 10/01/2027
60015190 Viera ,Richard 8.625 .250 8.375 .0400 8.335 10/01/2027
60015191 Miranda ,Jose A. 7.875 .250 7.625 .0400 7.585 11/01/2017
60015195 Stopp ,Dale A 8.500 .250 8.250 .0400 8.210 08/01/2027
60015196 Whitman ,Judith 8.000 .250 7.750 .0400 7.710 11/01/2027
60015197 Nordstrom ,Rodney R 8.375 .250 8.125 .0400 8.085 10/01/2027
60015198 Lyons ,Ned M 8.875 .250 8.625 .0400 8.585 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015176 Cates ,David C. 278064 $1,287.76 11/01/1997 360
60015177 Lincoln ,Charles A 278076 $844.85 11/01/1997 360
60015181 Zimick ,Robert 278161 $1,495.81 11/01/1997 360
60015182 Wallace ,Darrell 278173 $787.69 12 11/01/1997 360
60015183 Lafrenierre ,Larry 278195 $723.24 11/01/1997 360
60015185 Constance Clar,Constance 278212 $653.58 11/01/1997 360
60015186 Capsuoto ,Dianne 278229 $581.10 11/01/1997 360
60015188 Young ,Corienne 278238 $1,450.14 11/01/1997 360
60015190 Viera ,Richard 278288 $933.35 11/01/1997 360
60015191 Miranda ,Jose A. 278305 $621.51 11/01/1997 240
60015195 Stopp ,Dale A 278350 $538.24 11/01/1997 360
60015196 Whitman ,Judith 278352 $1,154.21 11/01/1997 360
60015197 Nordstrom ,Rodney R 278354 $464.40 11/01/1997 360
60015198 Lyons ,Ned M 278364 $620.61 11/01/1997 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>
60015176 Cates ,David C. $234,000.00 N
60015177 Lincoln ,Charles A $140,000.00 N
60015181 Zimick ,Robert $235,000.00 N
60015182 Wallace ,Darrell $110,000.00 N
60015183 Lafrenierre ,Larry $119,000.00 N
60015185 Constance Clar,Constance $160,000.00 N
60015186 Capsuoto ,Dianne $109,500.00 N
60015188 Young ,Corienne $265,000.00 N
60015190 Viera ,Richard $150,000.00 N
60015191 Miranda ,Jose A. $126,000.00 N
60015195 Stopp ,Dale A $160,000.00 N
60015196 Whitman ,Judith $242,000.00 N
60015197 Nordstrom ,Rodney R $81,500.00 N
60015198 Lyons ,Ned M $104,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 91
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015199 Fairbanks ,Jeffrey 325 E. Vine Circle Mesa AZ 85210 $101,026.24
60015200 Jones ,Kendall 909 Big Horn St Henderson NV 89015 $88,125.00
60015201 Terlizzi ,Valerie B 94 Sanford Avenue Emerson NJ 7630 $125,000.00
60015202 Josie ,Larry 4593 South Creekview Dr Salt Lake City UT 84107 $116,000.00
60015203 Gist ,John R 1950 Derek Dr Bend OR 97701 $166,911.37
60015204 Downer ,Randolph 150-152 West University B Tucson AZ 85705 $60,750.00
60015205 Chesley ,Elizabeth 225 E-2 Lincoln Street Duxbury MA 2332 $50,100.00
60015206 Harvey ,Laura E. 56699 Lunar Drive Bend OR 97707 $138,750.00
60015208 Wilson ,C Anthony 570 Bushnell Lane Eugene OR 97404 $110,721.08
60015209 Schulze ,Richard B 6432 Colette Way North Highlands CA 95660 $56,800.00
60015210 Moak ,Clinton 5370 N W 32nd St Pompano Beach FL 33063 $99,600.00
60015214 Mckitric ,Martha E 21314 Gary Drive #205 Hayward CA 94546 $105,000.00
60015215 Randolph ,Gary J. 604 Holly Drive Edmond OK 73034 $125,300.00
60015216 David ,Nolita V 2908 Sargent Avenue San Pablo CA 94806 $114,300.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015199 Fairbanks ,Jeffrey 9.000 .250 8.750 .0400 8.710 08/01/2027
60015200 Jones ,Kendall 8.250 .250 8.000 .0400 7.960 11/01/2027
60015201 Terlizzi ,Valerie B 7.375 .250 7.125 .0400 7.085 11/01/2027
60015202 Josie ,Larry 8.375 .250 8.125 .0400 8.085 11/01/2027
60015203 Gist ,John R 8.750 .250 8.500 .0400 8.460 07/01/2027
60015204 Downer ,Randolph 8.875 .250 8.625 .0400 8.585 11/01/2027
60015205 Chesley ,Elizabeth 8.500 .250 8.250 .0400 8.210 11/01/2027
60015206 Harvey ,Laura E. 8.750 .250 8.500 .0400 8.460 11/01/2027
60015208 Wilson ,C Anthony 8.375 .250 8.125 .0400 8.085 08/01/2027
60015209 Schulze ,Richard B 8.500 .250 8.250 .0400 8.210 11/01/2027
60015210 Moak ,Clinton 8.625 .250 8.375 .0400 8.335 11/01/2027
60015214 Mckitric ,Martha E 8.250 .250 8.000 .0400 7.960 11/01/2027
60015215 Randolph ,Gary J. 8.375 .250 8.125 .0400 8.085 11/01/2027
60015216 David ,Nolita V 7.875 .250 7.625 .0400 7.585 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015199 Fairbanks ,Jeffrey 278367 $814.69 11/01/1997 360
60015200 Jones ,Kendall 278375 $662.05 11/01/1997 360
60015201 Terlizzi ,Valerie B 278403 $863.34 11/01/1997 360
60015202 Josie ,Larry 278406 $881.68 11/01/1997 360
60015203 Gist ,John R 278442 $1,316.94 11/01/1997 360
60015204 Downer ,Randolph 278476 $483.35 11/01/1997 360
60015205 Chesley ,Elizabeth 278514 $385.23 11/01/1997 360
60015206 Harvey ,Laura E. 278524 $1,091.55 11/01/1997 360
60015208 Wilson ,C Anthony 278537 $843.69 11/01/1997 360
60015209 Schulze ,Richard B 278553 $436.74 11/01/1997 360
60015210 Moak ,Clinton 278563 $774.68 11/01/1997 360
60015214 Mckitric ,Martha E 278653 $788.83 11/01/1997 360
60015215 Randolph ,Gary J. 278654 $952.37 11/01/1997 360
60015216 David ,Nolita V 278659 $828.75 11/01/1997 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>
60015199 Fairbanks ,Jeffrey $135,000.00 N
60015200 Jones ,Kendall $117,500.00 N
60015201 Terlizzi ,Valerie B $175,000.00 N
60015202 Josie ,Larry $145,000.00 N
60015203 Gist ,John R $279,000.00 N
60015204 Downer ,Randolph $81,000.00 N
60015205 Chesley ,Elizabeth $176,500.00 N
60015206 Harvey ,Laura E. $185,000.00 N
60015208 Wilson ,C Anthony $154,000.00 N
60015209 Schulze ,Richard B $71,000.00 N
60015210 Moak ,Clinton $124,500.00 N
60015214 Mckitric ,Martha E $149,000.00 N
60015215 Randolph ,Gary J. $170,000.00 N
60015216 David ,Nolita V $143,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 92
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015217 Rosen ,Judith B. 501 Williamsburg Way Upper Merion To PA 19406 $75,000.00
60015218 Madec ,Andrew M. 478 East Calle Higuera Camarillo CA 93010 $171,200.00
60015219 Wayman ,Lilas 2035 N. 600 West Lehi UT 84043 $96,750.00
60015221 Hogeland ,William P 7918 W. 62nd Way Arvada CO 80004 $50,000.00
60015222 Huxley ,Faith F. 1074 Miramonte Drive Unit Santa Barbara CA 93109 $143,200.00
60015223 Mullison ,Burton H. 555 Amethyst Drive Steamboat Sprin CO 80477 $150,000.00
60015226 Logan ,Jon P. 19978 East Loyola Place Aurora CO 80013 $86,000.00
60015227 Bowers ,Craig E. 1978 Faye Court Pleasant Hill CA 94523 $134,000.00
60015229 Croft ,Jennifer 21 Kings Crossing Rd #304 Winter Park CO 80482 $112,500.00
60015230 Szager ,Kenneth R 3709-3713 W. 118th St Hawthorne CA 90250 $114,000.00
60015232 Moritz ,William S 200 Aguirre Court Cotati CA 94931 $177,766.33
60015234 Gillespie ,Jerry R. 505/507 8th Street Carbondale CO 81623 $190,500.00
60015235 Bronsert ,Richard N 743 745 S W 16th Loveland CO 80537 $123,750.00
60015236 Mastaglio ,Thomas W. 200 Tamarack Lane #508 Avon CO 81620 $128,250.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015217 Rosen ,Judith B. 8.500 .250 8.250 .0400 8.210 11/01/2027
60015218 Madec ,Andrew M. 8.000 .250 7.750 .0400 7.710 11/01/2027
60015219 Wayman ,Lilas 8.375 .250 8.125 .0400 8.085 11/01/2027
60015221 Hogeland ,William P 8.125 .250 7.875 .0400 7.835 11/01/2027
60015222 Huxley ,Faith F. 8.375 .250 8.125 .0400 8.085 11/01/2027
60015223 Mullison ,Burton H. 8.125 .250 7.875 .0400 7.835 11/01/2027
60015226 Logan ,Jon P. 7.875 .250 7.625 .0400 7.585 11/01/2027
60015227 Bowers ,Craig E. 8.000 .250 7.750 .0400 7.710 11/01/2027
60015229 Croft ,Jennifer 8.500 .250 8.250 .0400 8.210 11/01/2027
60015230 Szager ,Kenneth R 8.375 .250 8.125 .0400 8.085 11/01/2027
60015232 Moritz ,William S 8.125 .250 7.875 .0400 7.835 10/01/2027
60015234 Gillespie ,Jerry R. 8.250 .250 8.000 .0400 7.960 11/01/2027
60015235 Bronsert ,Richard N 8.250 .250 8.000 .0400 7.960 11/01/2027
60015236 Mastaglio ,Thomas W. 8.250 .250 8.000 .0400 7.960 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015217 Rosen ,Judith B. 278703 $576.69 11/01/1997 360
60015218 Madec ,Andrew M. 278713 $1,256.20 11/01/1997 360
60015219 Wayman ,Lilas 278723 $735.37 11/01/1997 360
60015221 Hogeland ,William P 278754 $371.25 11/01/1997 360
60015222 Huxley ,Faith F. 278780 $1,088.42 11/01/1997 360
60015223 Mullison ,Burton H. 278802 $1,113.75 11/01/1997 360
60015226 Logan ,Jon P. 278869 $623.56 11/01/1997 360
60015227 Bowers ,Craig E. 278902 $983.24 11/01/1997 360
60015229 Croft ,Jennifer 278957 $865.03 7 11/01/1997 360
60015230 Szager ,Kenneth R 278969 $866.48 7 11/01/1997 360
60015232 Moritz ,William S 279012 $1,321.65 11/01/1997 360
60015234 Gillespie ,Jerry R. 279049 $1,431.16 11/01/1997 360
60015235 Bronsert ,Richard N 279050 $929.69 11/01/1997 360
60015236 Mastaglio ,Thomas W. 279119 $963.50 11/01/1997 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>
60015217 Rosen ,Judith B. $150,000.00 N
60015218 Madec ,Andrew M. $214,000.00 N
60015219 Wayman ,Lilas $195,000.00 N
60015221 Hogeland ,William P $215,000.00 N
60015222 Huxley ,Faith F. $179,000.00 N
60015223 Mullison ,Burton H. $200,000.00 N
60015226 Logan ,Jon P. $133,500.00 N
60015227 Bowers ,Craig E. $167,500.00 N
60015229 Croft ,Jennifer $127,000.00 N
60015230 Szager ,Kenneth R $121,000.00 N
60015232 Moritz ,William S $222,500.00 N
60015234 Gillespie ,Jerry R. $254,000.00 N
60015235 Bronsert ,Richard N $166,000.00 N
60015236 Mastaglio ,Thomas W. $175,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 93
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015237 Bainbrick ,Raymona E 642 Broadway Como CO 80432 $83,200.00
60015238 French ,David A 145 West Maple Street Denver CO 80223 $112,500.00
60015239 Hawkinson ,Gregory C 532 Division Drive Big Bear City CA 92314 $123,600.00
60015243 Islam ,Mohammed 2742 West Pondera Street Lancaster CA 93536 $122,857.96
60015244 Robbins ,Monty G 10605 And 10607 Flamingo Oklahoma City OK 73162 $93,750.00
60015245 Schultz ,Winston K 3371 West 30th Avenue Denver CO 80211 $157,500.00
60015249 Lynch ,Barbara 419 Birchwood Raod Medford NY 11763 $76,300.00
60015250 Carlson ,Jon kai 1426 Gay Street Longmont CO 80501 $100,000.00
60015254 Farinola ,Onofrio 4710 Northwest 102nd Aven Miami FL 33178 $56,000.00
60015255 Khatchatourian,Greta 1236 North Columbus Avenu Glendale CA 91202 $74,625.00
60015257 Cordova ,Theresa 6986-d Stagecoach Road Dublin CA 94568 $65,000.00
60015258 Kleinman ,Kay 3985 Campolindo Drive Moraga CA 94556 $171,000.00
60015259 Sanders ,Mark Ferr 2828 Silverplum # L 4 Fort Collins CO 80526 $73,200.00
60015260 Stewart ,Jimmy D 6501 Blue Lane Norman OK 73071 $172,500.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015237 Bainbrick ,Raymona E 7.875 .250 7.625 .0400 7.585 11/01/2027
60015238 French ,David A 8.750 .250 8.500 .0400 8.460 11/01/2027
60015239 Hawkinson ,Gregory C 8.000 .250 7.750 .0400 7.710 11/01/2027
60015243 Islam ,Mohammed 8.750 .250 8.500 .0400 8.460 10/01/2027
60015244 Robbins ,Monty G 8.500 .250 8.250 .0400 8.210 11/01/2027
60015245 Schultz ,Winston K 8.375 .250 8.125 .0400 8.085 11/01/2027
60015249 Lynch ,Barbara 8.625 .250 8.375 .0400 8.335 11/01/2027
60015250 Carlson ,Jon kai 8.750 .250 8.500 .0400 8.460 11/01/2027
60015254 Farinola ,Onofrio 8.750 .250 8.500 .0400 8.460 11/01/2027
60015255 Khatchatourian,Greta 7.750 .250 7.500 .0400 7.460 11/01/2027
60015257 Cordova ,Theresa 8.500 .250 8.250 .0400 8.210 11/01/2027
60015258 Kleinman ,Kay 7.625 .250 7.375 .0400 7.335 11/01/2027
60015259 Sanders ,Mark Ferr 7.750 .250 7.500 .0400 7.460 11/01/2027
60015260 Stewart ,Jimmy D 8.375 .250 8.125 .0400 8.085 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015237 Bainbrick ,Raymona E 279126 $603.26 11/01/1997 360
60015238 French ,David A 279155 $885.04 11/01/1997 360
60015239 Hawkinson ,Gregory C 279188 $906.93 11/01/1997 360
60015243 Islam ,Mohammed 279253 $967.64 11/01/1997 360
60015244 Robbins ,Monty G 279275 $720.86 11/01/1997 360
60015245 Schultz ,Winston K 279299 $1,197.11 11/01/1997 360
60015249 Lynch ,Barbara 279384 $593.45 11/01/1997 360
60015250 Carlson ,Jon kai 279398 $786.70 11/01/1997 360
60015254 Farinola ,Onofrio 279455 $440.55 11/01/1997 360
60015255 Khatchatourian,Greta 279555 $534.62 11/01/1997 360
60015257 Cordova ,Theresa 279606 $499.79 11/01/1997 360
60015258 Kleinman ,Kay 279608 $1,210.33 11/01/1997 360
60015259 Sanders ,Mark Ferr 279639 $524.41 11/01/1997 360
60015260 Stewart ,Jimmy D 279662 $1,311.12 11/01/1997 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>
60015237 Bainbrick ,Raymona E $112,000.00 N
60015238 French ,David A $150,000.00 N
60015239 Hawkinson ,Gregory C $154,500.00 N
60015243 Islam ,Mohammed $154,000.00 N
60015244 Robbins ,Monty G $125,000.00 N
60015245 Schultz ,Winston K $225,000.00 N
60015249 Lynch ,Barbara $109,000.00 N
60015250 Carlson ,Jon kai $135,500.00 N
60015254 Farinola ,Onofrio $80,000.00 N
60015255 Khatchatourian,Greta $99,500.00 N
60015257 Cordova ,Theresa $185,000.00 N
60015258 Kleinman ,Kay $400,000.00 N
60015259 Sanders ,Mark Ferr $91,500.00 N
60015260 Stewart ,Jimmy D $230,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 94
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015261 Cavalco ,Deborah 1318 Sandhurst Drive Sandwich IL 60548 $105,000.00
60015262 Silva ,Abel 377 North Western Ave., 1 Hemet CA 92543 $62,500.00
60015263 Witt ,Dennis R. 2833 Ohina Street Kihei HI 96753 $157,500.00
60015264 Larsen ,Barbara 189 Oak Springs San Anselmo CA 94960 $171,500.00
60015265 Deschamps ,Cesar F 42 Canton Street Lawrence MA 1841 $60,750.00
60015267 Dunleavy ,Mary 4920 Rita Drive Las Vegas NV 89121 $64,000.00
60015269 Carr ,Robert 1200 Justin St Pearce AZ 85625 $63,000.00
60015271 Graham ,Randell 712 South 4th Street Montebello CA 90640 $113,500.00
60015273 Judd ,David B. 465 West 300 North Provo UT 84601 $91,000.00
60015274 Naderi ,Javad 24982 Los Alamos Laguna Niguel CA 92677 $131,100.00
60015275 Ngo ,Benjamin 13888 Dawson Street Garden Grove CA 92843 $61,000.00
60015276 Reynolds ,Duane J 2139 South 4th Street Wes Missoula MT 59801 $110,000.00
60015277 Reynolds ,Duane J 2131 South 4th Street Wes Missoula MT 59801 $110,000.00
60015278 Mac Dougall ,Marianne 8304 South Everett Way #F Littleton CO 80123 $69,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015261 Cavalco ,Deborah 8.125 .250 7.875 .0400 7.835 11/01/2027
60015262 Silva ,Abel 8.750 .250 8.500 .0400 8.460 11/01/2027
60015263 Witt ,Dennis R. 8.750 .250 8.500 .0400 8.460 11/01/2027
60015264 Larsen ,Barbara 8.000 .250 7.750 .0400 7.710 11/01/2027
60015265 Deschamps ,Cesar F 8.625 .250 8.375 .0400 8.335 11/01/2027
60015267 Dunleavy ,Mary 8.375 .250 8.125 .0400 8.085 11/01/2027
60015269 Carr ,Robert 8.500 .250 8.250 .0400 8.210 11/01/2027
60015271 Graham ,Randell 8.625 .250 8.375 .0400 8.335 11/01/2027
60015273 Judd ,David B. 8.375 .250 8.125 .0400 8.085 11/01/2027
60015274 Naderi ,Javad 8.000 .250 7.750 .0400 7.710 11/01/2027
60015275 Ngo ,Benjamin 8.125 .250 7.875 .0400 7.835 11/01/2027
60015276 Reynolds ,Duane J 8.500 .250 8.250 .0400 8.210 11/01/2027
60015277 Reynolds ,Duane J 8.500 .250 8.250 .0400 8.210 11/01/2027
60015278 Mac Dougall ,Marianne 8.250 .250 8.000 .0400 7.960 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015261 Cavalco ,Deborah 279693 $779.62 11/01/1997 360
60015262 Silva ,Abel 279701 $491.69 1 11/01/1997 360
60015263 Witt ,Dennis R. 279727 $1,239.05 11/01/1997 360
60015264 Larsen ,Barbara 279757 $1,258.41 11/01/1997 360
60015265 Deschamps ,Cesar F 279770 $472.51 11/01/1997 360
60015267 Dunleavy ,Mary 279873 $486.45 11/01/1997 360
60015269 Carr ,Robert 279887 $484.42 11/01/1997 360
60015271 Graham ,Randell 279909 $882.79 11/01/1997 360
60015273 Judd ,David B. 279939 $691.67 11/01/1997 360
60015274 Naderi ,Javad 279954 $961.97 11/01/1997 360
60015275 Ngo ,Benjamin 279957 $452.92 11/01/1997 360
60015276 Reynolds ,Duane J 280011 $845.81 11/01/1997 360
60015277 Reynolds ,Duane J 280016 $845.81 11/01/1997 360
60015278 Mac Dougall ,Marianne 280079 $518.37 11/01/1997 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>
60015261 Cavalco ,Deborah $166,500.00 N
60015262 Silva ,Abel $69,500.00 N
60015263 Witt ,Dennis R. $210,000.00 N
60015264 Larsen ,Barbara $392,000.00 N
60015265 Deschamps ,Cesar F $81,000.00 N
60015267 Dunleavy ,Mary $97,500.00 N
60015269 Carr ,Robert $84,000.00 N
60015271 Graham ,Randell $167,000.00 N
60015273 Judd ,David B. $131,000.00 N
60015274 Naderi ,Javad $163,900.00 N
60015275 Ngo ,Benjamin $81,500.00 N
60015276 Reynolds ,Duane J $170,000.00 N
60015277 Reynolds ,Duane J $170,000.00 N
60015278 Mac Dougall ,Marianne $92,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 95
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015279 Babbini ,Michael A 103 West Third Street Santa Rosa CA 95401 $147,000.00
60015283 Bartolone ,Thomas 385 East Coffe Pot Drive Sedona AZ 86336 $104,250.00
60015284 Digiorgio ,Gary F 7277 West 83rd Way Arvada CO 80003 $135,900.00
60015287 Guerrero ,Georgina 612 Wheeler Street Santa Rosa CA 95404 $107,861.79
60015288 Pomroy ,Leona M. 1348 Valkenburg Drive Colorado Spring CO 80907 $112,000.00
60015289 Cole ,Fred 611 South Xenon Court Lakewood CO 80228 $65,000.00
60015290 Brewer ,Nadine 658 Rossie Hill Drive- Un Park City UT 84068 $187,500.00
60015293 Nickel ,Gordon 672-674 Woodcrest Drive Lake Elsinore CA 92530 $117,750.00
60015294 Bell ,Raymond E 2810 Begonia Court Unit 1 Henderson NV 89014 $62,800.00
60015300 Schleicher ,Robert H. 7455 Park Lane Road Longmont CO 80503 $214,000.00
60015301 Acker-Gonsenha,Linda 5052 South Yampa Court Aurora CO 80015 $99,750.00
60015311 Robbins ,Maria Del 200 Mountain Shadows Dr Glenwood Spring CO 81601 $125,000.00
60015312 Lancaster ,David P & 2216 2216.5 & 2218 N 6th Grand Junction CO 81501 $103,500.00
60015315 Novotny ,Eva Marie 35 Dunn Laguna Niguel CA 92677 $171,200.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015279 Babbini ,Michael A 9.000 .250 8.750 .0400 8.710 11/01/2027
60015283 Bartolone ,Thomas 8.375 .250 8.125 .0400 8.085 11/01/2027
60015284 Digiorgio ,Gary F 8.750 .250 8.500 .0400 8.460 11/01/2027
60015287 Guerrero ,Georgina 8.250 .250 8.000 .0400 7.960 10/01/2027
60015288 Pomroy ,Leona M. 8.250 .250 8.000 .0400 7.960 11/01/2027
60015289 Cole ,Fred 8.000 .250 7.750 .0400 7.710 11/01/2027
60015290 Brewer ,Nadine 8.750 .250 8.500 .0400 8.460 11/01/2027
60015293 Nickel ,Gordon 8.875 .250 8.625 .0400 8.585 11/01/2027
60015294 Bell ,Raymond E 8.375 .250 8.125 .0400 8.085 11/01/2027
60015300 Schleicher ,Robert H. 8.250 .250 8.000 .0400 7.960 11/01/2027
60015301 Acker-Gonsenha,Linda 8.250 .250 8.000 .0400 7.960 11/01/2027
60015311 Robbins ,Maria Del 7.875 .250 7.625 .0400 7.585 11/01/2027
60015312 Lancaster ,David P & 8.625 .250 8.375 .0400 8.335 11/01/2027
60015315 Novotny ,Eva Marie 7.750 .250 7.500 .0400 7.460 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015279 Babbini ,Michael A 280123 $1,182.80 11/01/1997 360
60015283 Bartolone ,Thomas 280179 $792.38 11/01/1997 360
60015284 Digiorgio ,Gary F 280180 $1,069.13 7 11/01/1997 360
60015287 Guerrero ,Georgina 280259 $811.37 11/01/1997 360
60015288 Pomroy ,Leona M. 280323 $841.42 11/01/1997 360
60015289 Cole ,Fred 280417 $476.95 11/01/1997 360
60015290 Brewer ,Nadine 280436 $1,475.06 11/01/1997 360
60015293 Nickel ,Gordon 280687 $936.87 11/01/1997 360
60015294 Bell ,Raymond E 280703 $477.33 11/01/1997 360
60015300 Schleicher ,Robert H. 280848 $1,607.71 11/01/1997 360
60015301 Acker-Gonsenha,Linda 280865 $749.39 11/01/1997 360
60015311 Robbins ,Maria Del 281600 $906.34 11/01/1997 360
60015312 Lancaster ,David P & 281601 $805.02 11/01/1997 360
60015315 Novotny ,Eva Marie 281742 $1,226.50 11/01/1997 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>
60015279 Babbini ,Michael A $185,000.00 N
60015283 Bartolone ,Thomas $139,000.00 N
60015284 Digiorgio ,Gary F $151,000.00 N
60015287 Guerrero ,Georgina $135,000.00 N
60015288 Pomroy ,Leona M. $140,000.00 N
60015289 Cole ,Fred $130,000.00 N
60015290 Brewer ,Nadine $255,000.00 N
60015293 Nickel ,Gordon $157,000.00 N
60015294 Bell ,Raymond E $78,500.00 N
60015300 Schleicher ,Robert H. $286,000.00 N
60015301 Acker-Gonsenha,Linda $133,000.00 N
60015311 Robbins ,Maria Del $180,000.00 N
60015312 Lancaster ,David P & $138,000.00 N
60015315 Novotny ,Eva Marie $214,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 96
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
60015320 Green ,Seretteau 7560 Cathedral Oaks Road Goleta CA 93117 $115,000.00
60015321 Malinak, Sr. ,Kenneth E 9119 W. Mariposa Grande Peoria AZ 85382 $140,300.00
60015326 Moore ,Elizabeth 3740 1st Avenue Denver CO 80206 $165,000.00
60015330 Howard ,Elvira 8801 Emerson Place Everett WA 98208 $55,000.00
60015332 Varela ,Kellee L. 891 Blossom Drive Brentwood CA 94513 $161,350.00
500066168 BROWN,TRACIE M 2513 PARK AVE RICHMOND VA 23220 $109,807.96
600081064 GRUBISIC COLLEEN 3116 DIANE DRIV AURORA IL 60504 $69,294.00
600081065 EURIOSTE RUDOLPH 1001 EAST 9TH S PUEBLO CO 81001 $54,295.21
600081067 COULTER THEODORE 19210 LOVERS LA GREY FOREST TX 78023 $99,807.37
600081076 KILIAN CHARLES 1784 ALTA VISTA VISTA CA 92084 $199,584.37
600081079 TABOTABO STEPHANIE 1806 INDIAN SUM ROUND ROCK TX 78664 $110,070.77
600081081 BAYLOR JAMES 12313 EMERY OAK AUSTIN TX 78758 $57,186.79
600081082 BAYLOR JAMES 7728 MANNASSAS AUSTIN TX 78745 $71,308.85
600081085 THOMPSON MYRON 20038 EYOTA ROA APPLE VALLEY CA 92308 $94,218.16
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
60015320 Green ,Seretteau 7.875 .250 7.625 .0400 7.585 11/01/2027
60015321 Malinak, Sr. ,Kenneth E 7.875 .250 7.625 .0400 7.585 11/01/2027
60015326 Moore ,Elizabeth 8.750 .250 8.500 .0400 8.460 11/01/2027
60015330 Howard ,Elvira 8.500 .250 8.250 .0400 8.210 11/01/2027
60015332 Varela ,Kellee L. 8.375 .250 8.125 .0400 8.085 11/01/2027
500066168 BROWN,TRACIE M 7.875 .250 7.625 .0500 7.575 09/01/2027
600081064 GRUBISIC COLLEEN 8.250 .250 8.000 .0500 7.950 08/01/2027
600081065 EURIOSTE RUDOLPH 8.250 .250 8.000 .0500 7.950 08/01/2027
600081067 COULTER THEODORE 8.250 .250 8.000 .0500 7.950 08/01/2027
600081076 KILIAN CHARLES 7.875 .250 7.625 .0500 7.575 08/01/2027
600081079 TABOTABO STEPHANIE 7.875 .250 7.625 .0500 7.575 08/01/2027
600081081 BAYLOR JAMES 8.125 .250 7.875 .0500 7.825 08/01/2027
600081082 BAYLOR JAMES 8.125 .250 7.875 .0500 7.825 08/01/2027
600081085 THOMPSON MYRON 8.250 .250 8.000 .0500 7.950 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
60015320 Green ,Seretteau 282129 $833.83 11/01/1997 360
60015321 Malinak, Sr. ,Kenneth E 282134 $1,017.27 11/01/1997 360
60015326 Moore ,Elizabeth 282443 $1,298.06 11/01/1997 360
60015330 Howard ,Elvira 282546 $422.91 11/01/1997 360
60015332 Varela ,Kellee L. 282557 $1,226.38 11/01/1997 360
500066168 BROWN,TRACIE M 8575165 $797.58 11/01/1997 360
600081064 GRUBISIC COLLEEN 0001153501 $525.89 11/01/1997 360
600081065 EURIOSTE RUDOLPH 0001154434 $408.69 11/01/1997 360
600081067 COULTER THEODORE 0001155779 $751.27 11/01/1997 360
600081076 KILIAN CHARLES 0001164664 $1,450.14 11/01/1997 360
600081079 TABOTABO STEPHANIE 0001166487 $799.75 11/01/1997 360
600081081 BAYLOR JAMES 0001167980 $425.45 11/01/1997 360
600081082 BAYLOR JAMES 0001167998 $530.51 11/01/1997 360
600081085 THOMPSON MYRON 0001169986 $709.20 11/01/1997 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>
60015320 Green ,Seretteau $158,000.00 N
60015321 Malinak, Sr. ,Kenneth E $175,380.00 N
60015326 Moore ,Elizabeth $236,327.00 N
60015330 Howard ,Elvira $132,500.00 N
60015332 Varela ,Kellee L. $237,375.00 N
500066168 BROWN,TRACIE M .00 .00 .00 .000 .250 .300 $158,500.00 N
600081064 GRUBISIC COLLEEN .00 .00 .00 .000 .250 .300 $162,000.00 N
600081065 EURIOSTE RUDOLPH .00 .00 .00 .000 .250 .300 $68,000.00 N
600081067 COULTER THEODORE .00 .00 .00 .000 .250 .300 $125,000.00 N
600081076 KILIAN CHARLES .00 .00 .00 .000 .250 .300 $250,000.00 N
600081079 TABOTABO STEPHANIE .00 .00 .00 .000 .250 .300 $137,980.00 N
600081081 BAYLOR JAMES .00 .00 .00 .000 .250 .300 $83,000.00 N
600081082 BAYLOR JAMES .00 .00 .00 .000 .250 .300 $99,000.00 N
600081085 THOMPSON MYRON .00 .00 .00 .000 .250 .300 $118,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 97
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600081087 JONES DON 2912 WEST 136TH GARDENA CA 90249 $99,807.37
600081090 WHITE CHARLES 615 TANNER ROAD DACULA GA 30211 $73,304.89
600081091 SIRIZZOTTI ROCCO 2215 MARION STR DENVER CO 80205 $93,564.78
600081092 KESERIC LINDA 2805 SUNDOWN LA BOULDER CO 80303 $99,807.37
600081093 SPAULDING JOAN 11844 BARLETTA MOORPARK CA 93021 $65,822.98
600081094 HOUTZAGER MICHAEL 3025 COMPASS PO ALPHARETTA GA 30202 $187,559.40
600081097 MESA KENNETH 1353 NORTH JAMA GILBERT AZ 85234 $92,222.02
600081101 BASSEL LARRY 8157 VIA MALLOR LA JOLLA CA 92037 $154,885.51
600081103 HOLBROOK SR. WILLIAM 3010 CHAPEL HIL DOUGLASVILLE GA 30135 $65,869.60
600081105 CHEN YIGE 1257 FAIRWEATHE SAN JOSE CA 95131 $179,644.38
600081106 GRUENBECK THOMAS 26371 VIA LOGRO MISSION VIEJO CA 92691 $142,118.65
600081109 RIGBY WESTLEY 4110 DREAM CATC WOODSTOCK GA 30189 $124,932.92
600081110 SUN OUTING 429 VIA HERBOSA NOVATO CA 94949 $160,793.97
600081114 BRIGHT SUSAN 4308 POPLAR GRO CHARLOTTE NC 28269 $126,250.07
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600081087 JONES DON 8.250 .250 8.000 .0500 7.950 08/01/2027
600081090 WHITE CHARLES 8.125 .250 7.875 .0500 7.825 08/01/2027
600081091 SIRIZZOTTI ROCCO 8.125 .250 7.875 .0500 7.825 08/01/2027
600081092 KESERIC LINDA 8.250 .250 8.000 .0500 7.950 08/01/2027
600081093 SPAULDING JOAN 8.250 .250 8.000 .0500 7.950 08/01/2027
600081094 HOUTZAGER MICHAEL 7.875 .250 7.625 .0500 7.575 08/01/2027
600081097 MESA KENNETH 8.250 .250 8.000 .0500 7.950 08/01/2027
600081101 BASSEL LARRY 8.000 .250 7.750 .0500 7.700 08/01/2027
600081103 HOLBROOK SR. WILLIAM 8.125 .250 7.875 .0500 7.825 08/01/2027
600081105 CHEN YIGE 8.125 .250 7.875 .0500 7.825 08/01/2027
600081106 GRUENBECK THOMAS 8.125 .250 7.875 .0500 7.825 08/01/2027
600081109 RIGBY WESTLEY 7.750 .250 7.500 .0500 7.450 08/01/2027
600081110 SUN OUTING 8.250 .250 8.000 .0500 7.950 09/01/2027
600081114 BRIGHT SUSAN 8.125 .250 7.875 .0500 7.825 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600081087 JONES DON 0001170687 $751.27 11/01/1997 360
600081090 WHITE CHARLES 0001171412 $545.36 11/01/1997 360
600081091 SIRIZZOTTI ROCCO 0001171461 $696.09 11/01/1997 360
600081092 KESERIC LINDA 0001171537 $751.27 11/01/1997 360
600081093 SPAULDING JOAN 0001171610 $495.46 11/01/1997 360
600081094 HOUTZAGER MICHAEL 0001172006 $1,362.77 11/01/1997 360
600081097 MESA KENNETH 0001172204 $694.17 11/01/1997 360
600081101 BASSEL LARRY 0001173103 $1,138.80 11/01/1997 360
600081103 HOLBROOK SR. WILLIAM 0001173467 $490.05 11/01/1997 360
600081105 CHEN YIGE 0001173814 $1,336.49 11/01/1997 360
600081106 GRUENBECK THOMAS 0001173996 $1,057.32 11/01/1997 360
600081109 RIGBY WESTLEY 0001174416 $896.95 11/01/1997 360
600081110 SUN OUTING 0001174473 $1,209.54 11/01/1997 360
600081114 BRIGHT SUSAN 0001175033 $939.26 11/01/1997 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>
600081087 JONES DON .00 .00 .00 .000 .250 .300 $170,000.00 N
600081090 WHITE CHARLES .00 .00 .00 .000 .250 .300 $91,850.00 N
600081091 SIRIZZOTTI ROCCO .00 .00 .00 .000 .250 .300 $125,000.00 N
600081092 KESERIC LINDA .00 .00 .00 .000 .250 .300 $200,000.00 N
600081093 SPAULDING JOAN .00 .00 .00 .000 .250 .300 $173,219.00 N
600081094 HOUTZAGER MICHAEL .00 .00 .00 .000 .250 .300 $234,975.00 N
600081097 MESA KENNETH .00 .00 .00 .000 .250 .300 $115,500.00 N
600081101 BASSEL LARRY .00 .00 .00 .000 .250 .300 $194,000.00 N
600081103 HOLBROOK SR. WILLIAM .00 .00 .00 .000 .250 .300 $82,500.00 N
600081105 CHEN YIGE .00 .00 .00 .000 .250 .300 $225,000.00 N
600081106 GRUENBECK THOMAS .00 .00 .00 .000 .250 .300 $178,000.00 N
600081109 RIGBY WESTLEY .00 .00 .00 .000 .250 .300 $156,500.00 N
600081110 SUN OUTING .00 .00 .00 .000 .250 .300 $230,000.00 N
600081114 BRIGHT SUSAN .00 .00 .00 .000 .250 .300 $168,750.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 98
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600081115 O'NEILL EDWARD 7049 NORTH OVER CHICAGO IL 60631 $89,826.65
600081117 BURNETT DONALD 1912 NORFOLK HOUSTON TX 77098 $130,997.18
600081118 SANCHEZ HOWARD 16772 WEYBURN A YORBA LINDA CA 92886 $194,006.07
600081122 STAFFORD WILLIAM HCR5 BOX 571A KERRVILLE TX 78028 $195,612.77
600081123 KORNHAUSER ROBERT 5010 WOOD DUCK MISSOURI CITY TX 77459 $87,817.12
600081124 WEST VELMA 2360 HWY 46 SOU NEW BRAUNFELS TX 78130 $107,284.79
600081125 WONG KAI 11401 WINDERMER AUSTIN TX 78759 $84,333.05
600081126 YEATER SR. JOHN 265 EASTWOOD LA LELAND NC 28451 $62,130.11
600081127 GADDIS LINDA 307 CRESTLINE B GREENVILLE NC 27834 $89,822.18
600081128 THOMPSON JOSEPH 3366 PARK RIM C SAN DIEGO CA 92117 $180,142.84
600081129 RUIZ CHARLES 625 LINDA VISTA PASADENA CA 91105 $202,808.61
600081130 MARCHAND MARIE 10550 HAMMERLY HOUSTON TX 77043 $35,156.93
600081131 WU SHUNSHOU 7539 ALONDA WAY SAN DIEGO CA 92129 $96,763.27
600081132 BASLER PAUL 17726 DEEP BROO SPRING TX 77379 $91,419.01
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600081115 O'NEILL EDWARD 8.250 .250 8.000 .0500 7.950 08/01/2027
600081117 BURNETT DONALD 8.250 .250 8.000 .0500 7.950 08/01/2027
600081118 SANCHEZ HOWARD 8.000 .250 7.750 .0500 7.700 08/01/2027
600081122 STAFFORD WILLIAM 8.125 .250 7.875 .0500 7.825 08/01/2027
600081123 KORNHAUSER ROBERT 7.875 .250 7.625 .0500 7.575 08/01/2027
600081124 WEST VELMA 8.125 .250 7.875 .0500 7.825 08/01/2027
600081125 WONG KAI 8.125 .250 7.875 .0500 7.825 08/01/2027
600081126 YEATER SR. JOHN 8.250 .250 8.000 .0500 7.950 08/01/2027
600081127 GADDIS LINDA 8.125 .250 7.875 .0500 7.825 08/01/2027
600081128 THOMPSON JOSEPH 7.875 .250 7.625 .0500 7.575 08/01/2027
600081129 RUIZ CHARLES 8.250 .250 8.000 .0500 7.950 08/01/2027
600081130 MARCHAND MARIE 8.250 .250 8.000 .0500 7.950 08/01/2027
600081131 WU SHUNSHOU 8.250 .250 8.000 .0500 7.950 08/01/2027
600081132 BASLER PAUL 8.125 .250 7.875 .0500 7.825 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600081115 O'NEILL EDWARD 0001175116 $676.14 11/01/1997 360
600081117 BURNETT DONALD 0001175553 $986.04 11/01/1997 360
600081118 SANCHEZ HOWARD 0001176015 $1,426.44 11/01/1997 360
600081122 STAFFORD WILLIAM 0001176411 $1,455.29 11/01/1997 360
600081123 KORNHAUSER ROBERT 0001176437 $638.06 11/01/1997 360
600081124 WEST VELMA 0001176627 $801.90 11/01/1997 360
600081125 WONG KAI 0001176726 $627.41 2 11/01/1997 360
600081126 YEATER SR. JOHN 0001177252 $467.66 11/01/1997 360
600081127 GADDIS LINDA 0001177286 $668.25 11/01/1997 360
600081128 THOMPSON JOSEPH 0001177468 $1,309.48 11/01/1997 360
600081129 RUIZ CHARLES 0001177476 $1,526.57 11/01/1997 360
600081130 MARCHAND MARIE 0001177518 $264.82 11/01/1997 360
600081131 WU SHUNSHOU 0001177641 $728.35 11/01/1997 360
600081132 BASLER PAUL 0001177708 $680.13 11/01/1997 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>
600081115 O'NEILL EDWARD .00 .00 .00 .000 .250 .300 $195,000.00 N
600081117 BURNETT DONALD .00 .00 .00 .000 .250 .300 $175,000.00 N
600081118 SANCHEZ HOWARD .00 .00 .00 .000 .250 .300 $243,000.00 N
600081122 STAFFORD WILLIAM .00 .00 .00 .000 .250 .300 $245,000.00 N
600081123 KORNHAUSER ROBERT .00 .00 .00 .000 .250 .300 $110,000.00 N
600081124 WEST VELMA .00 .00 .00 .000 .250 .300 $135,000.00 N
600081125 WONG KAI .00 .00 .00 .000 .250 .300 $93,900.00 N
600081126 YEATER SR. JOHN .00 .00 .00 .000 .250 .300 $83,055.00 N
600081127 GADDIS LINDA .00 .00 .00 .000 .250 .300 $126,000.00 N
600081128 THOMPSON JOSEPH .00 .00 .00 .000 .250 .300 $225,750.00 N
600081129 RUIZ CHARLES .00 .00 .00 .000 .250 .300 $254,000.00 N
600081130 MARCHAND MARIE .00 .00 .00 .000 .250 .300 $47,000.00 N
600081131 WU SHUNSHOU .00 .00 .00 .000 .250 .300 $138,500.00 N
600081132 BASLER PAUL .00 .00 .00 .000 .250 .300 $114,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 99
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600081134 BAUER KEN 1391 REED STREE LAKEWOOD CO 80215 $67,363.22
600081135 MESA KENNETH 1362 EAST CULLU GILBERT AZ 85234 $82,636.40
600081136 POWELL EDDIE 15631 PRAIRIE A LAWNDALE CA 90260 $124,360.00
600081138 PYEATT SCOTT 9 SOMERSET DOVE CANYON CA 92679 $188,008.48
600081139 ANDERSON LYNDA 5905 SHAMROCK R DURHAM NC 27713 $92,072.32
600081140 MADOW ELISA 1926 GILLESPIE SANTA BARBARA CA 93101 $209,585.10
600081143 EKRUT VERNON 615 N.W. 5TH AV MINERAL WELLS TX 76067 $58,307.55
600081144 MATHEY KARL 21112 WINCHESTE TRABUCO CANYON CA 92679 $126,256.34
600081145 IWABUCHI HELEN 11813 PUEBLO LI EL PASO TX 79936 $141,776.39
600081148 DANIEL JAMES 667 PARK DRIVE ATLANTA GA 30306 $155,683.89
600081152 MITROFF GEORGE 1440 ENCHANTED SAN MATEO CA 94402 $204,702.30
600081153 BRADBURY CHARLES 311 SOUTH ABLES GRANBURY TX 76048 $45,767.66
600081154 SZABO KATHY 9146 JELLICO AV NORTHRIDGE CA 91325 $204,418.04
600081156 ROTBERGER NORMAN 15146 MAGNOLIA SHERMAN OAKS CA 91403 $49,932.68
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600081134 BAUER KEN 8.000 .250 7.750 .0500 7.700 08/01/2027
600081135 MESA KENNETH 8.125 .250 7.875 .0500 7.825 08/01/2027
600081136 POWELL EDDIE 8.250 .250 8.000 .0500 7.950 08/01/2027
600081138 PYEATT SCOTT 7.875 .250 7.625 .0500 7.575 08/01/2027
600081139 ANDERSON LYNDA 8.250 .250 8.000 .0500 7.950 08/01/2027
600081140 MADOW ELISA 8.125 .250 7.875 .0500 7.825 08/01/2027
600081143 EKRUT VERNON 8.125 .250 7.875 .0500 7.825 08/01/2027
600081144 MATHEY KARL 8.250 .250 8.000 .0500 7.950 08/01/2027
600081145 IWABUCHI HELEN 8.250 .250 8.000 .0500 7.950 08/01/2027
600081148 DANIEL JAMES 8.000 .250 7.750 .0500 7.700 08/01/2027
600081152 MITROFF GEORGE 7.625 .250 7.375 .0500 7.325 09/01/2027
600081153 BRADBURY CHARLES 8.250 .250 8.000 .0500 7.950 08/01/2027
600081154 SZABO KATHY 7.875 .250 7.625 .0500 7.575 09/01/2027
600081156 ROTBERGER NORMAN 8.000 .250 7.750 .0500 7.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600081134 BAUER KEN 0001178052 $495.29 11/01/1997 360
600081135 MESA KENNETH 0001178151 $614.79 11/01/1997 360
600081136 POWELL EDDIE 0001178292 $936.08 11/01/1997 360
600081138 PYEATT SCOTT 0001178409 $1,366.03 11/01/1997 360
600081139 ANDERSON LYNDA 0001178680 $693.04 11/01/1997 360
600081140 MADOW ELISA 0001178904 $1,559.24 11/01/1997 360
600081143 EKRUT VERNON 0001179290 $434.36 2 11/01/1997 360
600081144 MATHEY KARL 0001179472 $950.35 11/01/1997 360
600081145 IWABUCHI HELEN 0001179480 $1,067.17 11/01/1997 360
600081148 DANIEL JAMES 0001179761 $1,144.67 11/01/1997 360
600081152 MITROFF GEORGE 0001180157 $1,450.98 11/01/1997 360
600081153 BRADBURY CHARLES 0001180587 $345.58 11/01/1997 360
600081154 SZABO KATHY 0001180637 $1,486.39 11/01/1997 360
600081156 ROTBERGER NORMAN 0001181452 $366.88 11/01/1997 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>
600081134 BAUER KEN .00 .00 .00 .000 .250 .300 $90,000.00 N
600081135 MESA KENNETH .00 .00 .00 .000 .250 .300 $103,500.00 N
600081136 POWELL EDDIE .00 .00 .00 .000 .250 .300 $178,000.00 N
600081138 PYEATT SCOTT .00 .00 .00 .000 .250 .300 $235,500.00 N
600081139 ANDERSON LYNDA .00 .00 .00 .000 .250 .300 $123,000.00 N
600081140 MADOW ELISA .00 .00 .00 .000 .250 .300 $300,000.00 N
600081143 EKRUT VERNON .00 .00 .00 .000 .250 .300 $65,000.00 N
600081144 MATHEY KARL .00 .00 .00 .000 .250 .300 $229,000.00 N
600081145 IWABUCHI HELEN .00 .00 .00 .000 .250 .300 $189,400.00 N
600081148 DANIEL JAMES .00 .00 .00 .000 .250 .300 $195,000.00 N
600081152 MITROFF GEORGE .00 .00 .00 .000 .250 .300 $490,000.00 N
600081153 BRADBURY CHARLES .00 .00 .00 .000 .250 .300 $57,500.00 N
600081154 SZABO KATHY .00 .00 .00 .000 .250 .300 $310,000.00 N
600081156 ROTBERGER NORMAN .00 .00 .00 .000 .250 .300 $105,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 100
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600081157 DEMARET SUSAN 748 COTTAGE LAN BOULDER CO 80304 $123,665.32
600081161 JACKSON JAMES 8020 CLARK CT. RED OAK TX 75115 $139,511.90
600081162 MOEWS GARY 8 PIECES OF EIG HILTON HEAD SC 29928 $188,635.97
600081163 ATHERTON ROBERT 6300 EAST WESLE DENVER CO 80222 $82,818.63
600081164 MAI THUY 2015 SEQUOIA AV SIMI VALLEY CA 93063 $114,383.35
600081165 BORGES LISA 1079710799 NOR CULVER CITY CA 90230 $196,391.01
600081166 MARTIN BILLY 4474 MERLIN CIR DOUGLASVILLE GA 30134 $51,600.43
600081167 ROSS MICHAEL 6527 GENSTAR LA DALLAS TX 75252 $108,989.67
600081169 SLOVACEK HARRY 2036 LA VACA CARROLLTON TX 75010 $89,073.66
600081171 MORENO WILLIAM 4917 HAKEL DRIV CORPUS CHRISTI TX 78415 $44,913.33
600081173 VOKOUN EDWARD 1901 PICKWICK C IRVING TX 75060 $72,063.76
600081174 BURNETT DONALD 3007 A SOUTH 4T AUSTIN TX 78704 $107,791.97
600081175 POWELL DIANNE 940 INTREPID CO DEL MAR CA 92014 $133,828.51
600081176 EDWARDS RICHARD 3401 SPOTTED HO AUSTIN TX 78739 $108,557.32
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600081157 DEMARET SUSAN 7.375 .250 7.125 .0500 7.075 08/01/2027
600081161 JACKSON JAMES 8.000 .250 7.750 .0500 7.700 09/01/2027
600081162 MOEWS GARY 8.250 .250 8.000 .0500 7.950 08/01/2027
600081163 ATHERTON ROBERT 7.625 .250 7.375 .0500 7.325 08/01/2027
600081164 MAI THUY 7.875 .250 7.625 .0500 7.575 09/01/2027
600081165 BORGES LISA 7.875 .250 7.625 .0500 7.575 08/01/2027
600081166 MARTIN BILLY 8.250 .250 8.000 .0500 7.950 08/01/2027
600081167 ROSS MICHAEL 8.250 .250 8.000 .0500 7.950 08/01/2027
600081169 SLOVACEK HARRY 8.125 .250 7.875 .0500 7.825 08/01/2027
600081171 MORENO WILLIAM 8.250 .250 8.000 .0500 7.950 08/01/2027
600081173 VOKOUN EDWARD 8.000 .250 7.750 .0500 7.700 08/01/2027
600081174 BURNETT DONALD 8.250 .250 8.000 .0500 7.950 08/01/2027
600081175 POWELL DIANNE 8.250 .250 8.000 .0500 7.950 09/01/2027
600081176 EDWARDS RICHARD 8.125 .250 7.875 .0500 7.825 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600081157 DEMARET SUSAN 0001181585 $856.09 11/01/1997 360
600081161 JACKSON JAMES 0001182633 $1,025.07 11/01/1997 360
600081162 MOEWS GARY 0001182666 $1,419.89 11/01/1997 360
600081163 ATHERTON ROBERT 0001182823 $587.47 11/01/1997 360
600081164 MAI THUY 0001182997 $832.38 11/01/1997 360
600081165 BORGES LISA 0001183409 $1,426.94 11/01/1997 360
600081166 MARTIN BILLY 0001183425 $388.40 11/01/1997 360
600081167 ROSS MICHAEL 0001183482 $820.38 11/01/1997 360
600081169 SLOVACEK HARRY 0001183714 $662.68 11/01/1997 360
600081171 MORENO WILLIAM 0001184407 $338.07 11/01/1997 360
600081173 VOKOUN EDWARD 0001185073 $530.88 11/01/1997 360
600081174 BURNETT DONALD 0001185305 $811.37 11/01/1997 360
600081175 POWELL DIANNE 0001186006 $1,006.70 11/01/1997 360
600081176 EDWARDS RICHARD 0001186915 $807.09 11/01/1997 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>
600081157 DEMARET SUSAN .00 .00 .00 .000 .250 .300 $248,000.00 N
600081161 JACKSON JAMES .00 .00 .00 .000 .250 .300 $174,640.00 N
600081162 MOEWS GARY .00 .00 .00 .000 .250 .300 $270,000.00 N
600081163 ATHERTON ROBERT .00 .00 .00 .000 .250 .300 $143,000.00 N
600081164 MAI THUY .00 .00 .00 .000 .250 .300 $143,500.00 N
600081165 BORGES LISA .00 .00 .00 .000 .250 .300 $246,000.00 N
600081166 MARTIN BILLY .00 .00 .00 .000 .250 .300 $69,000.00 N
600081167 ROSS MICHAEL .00 .00 .00 .000 .250 .300 $136,500.00 N
600081169 SLOVACEK HARRY .00 .00 .00 .000 .250 .300 $119,000.00 N
600081171 MORENO WILLIAM .00 .00 .00 .000 .250 .300 $60,000.00 N
600081173 VOKOUN EDWARD .00 .00 .00 .000 .250 .300 $96,500.00 N
600081174 BURNETT DONALD .00 .00 .00 .000 .250 .300 $135,000.00 N
600081175 POWELL DIANNE .00 .00 .00 .000 .250 .300 $167,500.00 N
600081176 EDWARDS RICHARD .00 .00 .00 .000 .250 .300 $135,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 101
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600081177 CLARK RICHARD 2403 RIVER ROAD ELLENWOOD GA 30049 $76,632.17
600081181 KNAPP EVERETT 38761 CHERRYSTO BEAUMONT CA 92223 $99,742.28
600081182 WOOLHEATER TIMOTHY 510 SESSINGHAM ALPHARETTA GA 30202 $119,811.48
600081184 YORK WILLIAM 320 HASCALL ROA ATLANTA GA 30309 $154,002.08
600081185 DREIER RICHARD 3881 LOCKLEAR W ATLANTA GA 30360 $115,701.05
600081186 DECKER MOLLY 7308 STANWOOD W SACRAMENTO CA 95831 $107,721.67
600081187 PADILLA MARC 718 EAST DALTON GLENDORA CA 91741 $188,313.45
600081199 ROBINSON WARREN 3907 SPRUCE BAY KINGWOOD TX 77345 $95,001.48
600082917 JEFFERS 265 COUNTY ROAD 283 LIBERTY HILL TX 78642 $164,682.18
600082925 RICHARDS 1031 LAWNDALE DRIVE GREENWOOD IN 46142 $94,892.75
600082926 MENLEY 0 COUNTY ROAD 86 ELGIN TX 78621 $122,723.71
600082931 CRUSCIEL 134 N 28TH STREET BATTLE CREEK MI 49015 $43,048.16
600082933 LINES 120 FREESE DRIVE SANGER TX 76266 $58,398.29
600082934 ISHAQ 10151 ASPEN WAY PALM BEACH GARD FL 33410 $130,051.69
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600081177 CLARK RICHARD 7.625 .250 7.375 .0500 7.325 08/01/2027
600081181 KNAPP EVERETT 8.250 .250 8.000 .0500 7.950 07/01/2027
600081182 WOOLHEATER TIMOTHY 8.250 .250 8.000 .0500 7.950 06/01/2027
600081184 YORK WILLIAM 8.250 .250 8.000 .0500 7.950 07/01/2027
600081185 DREIER RICHARD 8.250 .250 8.000 .0500 7.950 07/01/2027
600081186 DECKER MOLLY 8.250 .250 8.000 .0500 7.950 07/01/2027
600081187 PADILLA MARC 8.250 .250 8.000 .0500 7.950 07/01/2027
600081199 ROBINSON WARREN 7.875 .250 7.625 .0500 7.575 08/01/2027
600082917 JEFFERS 8.250 .250 8.000 .0500 7.950 08/01/2027
600082925 RICHARDS 8.875 .250 8.625 .0500 8.575 09/01/2027
600082926 MENLEY 8.750 .250 8.500 .0500 8.450 06/01/2027
600082931 CRUSCIEL 8.750 .250 8.500 .0500 8.450 05/01/2027
600082933 LINES 8.750 .250 8.500 .0500 8.450 08/01/2027
600082934 ISHAQ 8.875 .250 8.625 .0500 8.575 07/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600081177 CLARK RICHARD 0001187012 $543.59 11/01/1997 360
600081181 KNAPP EVERETT 0001126523 $751.27 11/01/1997 360
600081182 WOOLHEATER TIMOTHY 0001126671 $903.02 11/01/1997 360
600081184 YORK WILLIAM 0001148766 $1,159.96 11/01/1997 360
600081185 DREIER RICHARD 0001153253 $871.47 11/01/1997 360
600081186 DECKER MOLLY 0001156991 $811.37 11/01/1997 360
600081187 PADILLA MARC 0001157395 $1,418.39 11/01/1997 360
600081199 ROBINSON WARREN 0001167758 $690.27 11/01/1997 360
600082917 JEFFERS 0898256 $1,239.59 11/01/1997 360
600082925 RICHARDS 0915172 $755.86 11/01/1997 360
600082926 MENLEY 0919365 $975.51 11/01/1997 360
600082931 CRUSCIEL 0923892 $339.85 12 11/01/1997 360
600082933 LINES 0925047 $460.22 12 11/01/1997 360
600082934 ISHAQ 0925701 $1,037.52 11/01/1997 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>
600081177 CLARK RICHARD .00 .00 .00 .000 .250 .300 $96,000.00 N
600081181 KNAPP EVERETT .00 .00 .00 .000 .250 .300 $165,000.00 N
600081182 WOOLHEATER TIMOTHY .00 .00 .00 .000 .250 .300 $150,300.00 N
600081184 YORK WILLIAM .00 .00 .00 .000 .250 .300 $193,000.00 N
600081185 DREIER RICHARD .00 .00 .00 .000 .250 .300 $145,000.00 N
600081186 DECKER MOLLY .00 .00 .00 .000 .250 .300 $135,000.00 N
600081187 PADILLA MARC .00 .00 .00 .000 .250 .300 $236,000.00 N
600081199 ROBINSON WARREN .00 .00 .00 .000 .250 .300 $119,000.00 N
600082917 JEFFERS .00 .00 .00 .000 .250 .300 $278,000.00 N
600082925 RICHARDS .00 .00 .00 .000 .250 .300 $135,000.00 N
600082926 MENLEY .00 .00 .00 .000 .250 .300 $155,000.00 N
600082931 CRUSCIEL .00 .00 .00 .000 .250 .300 $48,000.00 N
600082933 LINES .00 .00 .00 .000 .250 .300 $65,000.00 N
600082934 ISHAQ .00 .00 .00 .000 .250 .300 $163,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 102
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600082936 ESPOSITO 1745 MARION WALDO ROAD MARION OH 43302 $140,680.29
600082938 CHACON 8446 WEST ROSEVIEW DRIVE NILES IL 60714 $151,635.77
600082939 STEINAGE 307 E MELODY AVENUE PORTAGE MI 49002 $90,205.38
600082940 KRUKOWSK 2458 BLUESTAR HIGHWAY FENNVILLE MI 49408 $63,056.68
600082942 FRENDO 923 RIVARD GROSSE POINTE MI 48230 $138,279.67
600082943 KRIER 69124 CENTER STREET PAW PAW MI 49079 $71,094.59
600082944 BEHRENS 630 N SALEM AVENUE ARLINGTON HEIGH IL 60004 $114,672.84
600082948 HOWELL 2510 GRAND KANSAS CITY MO 64108 $89,353.02
600082949 NEHRKE 1981 NE NE 32ND COURT LIGHT HOUSE POI FL 33064 $51,909.61
600082950 KAVOUSSI 4329 JAMES CASEY STREET AUSTIN TX 78745 $51,872.63
600082951 DRIVER 6355 IVANHOE BEAUMONT TX 77706 $47,163.52
600082952 GRAMS 1914 E 1ST ST DULUTH MN 55812 $74,857.81
600082954 KILLACKY 1423 WESTGLEN DRIVE NAPERVILLE IL 60565 $183,413.67
600082956 MARSILIO 51 PRETORIA DRIVE ELLISVILLE MO 63021 $125,645.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600082936 ESPOSITO 8.875 .250 8.625 .0500 8.575 07/01/2027
600082938 CHACON 8.625 .250 8.375 .0500 8.325 07/01/2027
600082939 STEINAGE 9.125 .250 8.875 .0500 8.825 07/01/2027
600082940 KRUKOWSK 8.875 .250 8.625 .0500 8.575 07/01/2027
600082942 FRENDO 9.000 .250 8.750 .0500 8.700 07/01/2027
600082943 KRIER 8.500 .250 8.250 .0500 8.200 08/01/2027
600082944 BEHRENS 8.875 .250 8.625 .0500 8.575 06/01/2027
600082948 HOWELL 8.875 .250 8.625 .0500 8.575 08/01/2027
600082949 NEHRKE 8.750 .250 8.500 .0500 8.450 08/01/2027
600082950 KAVOUSSI 8.500 .250 8.250 .0500 8.200 07/01/2027
600082951 DRIVER 8.500 .250 8.250 .0500 8.200 08/01/2027
600082952 GRAMS 8.875 .250 8.625 .0500 8.575 07/01/2027
600082954 KILLACKY 8.500 .250 8.250 .0500 8.200 08/01/2027
600082956 MARSILIO 9.375 .250 9.125 .0500 9.075 07/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600082936 ESPOSITO 0926152 $1,121.86 11/01/1997 360
600082938 CHACON 0926307 $1,182.24 11/01/1997 360
600082939 STEINAGE 0926716 $735.52 11/01/1997 360
600082940 KRUKOWSK 0926789 $502.85 11/01/1997 360
600082942 FRENDO 0927016 $1,115.21 12 11/01/1997 360
600082943 KRIER 0927096 $547.85 11/01/1997 360
600082944 BEHRENS 0927469 $914.99 11/01/1997 360
600082948 HOWELL 0928605 $715.68 11/01/1997 360
600082949 NEHRKE 0928895 $409.08 11/01/1997 360
600082950 KAVOUSSI 0929074 $399.84 11/01/1997 360
600082951 DRIVER 0929092 $363.31 11/01/1997 360
600082952 GRAMS 0929263 $604.69 11/01/1997 360
600082954 KILLACKY 0929491 $1,412.88 11/01/1997 360
600082956 MARSILIO 0929542 $1,048.01 11/01/1997 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>
600082936 ESPOSITO .00 .00 .00 .000 .250 .300 $243,000.00 N
600082938 CHACON .00 .00 .00 .000 .250 .300 $190,000.00 N
600082939 STEINAGE .00 .00 .00 .000 .250 .300 $113,000.00 N
600082940 KRUKOWSK .00 .00 .00 .000 .250 .300 $79,000.00 N
600082942 FRENDO .00 .00 .00 .000 .250 .300 $154,000.00 N
600082943 KRIER .00 .00 .00 .000 .250 .300 $95,000.00 N
600082944 BEHRENS .00 .00 .00 .000 .250 .300 $163,000.00 N
600082948 HOWELL .00 .00 .00 .000 .250 .300 $119,950.00 N
600082949 NEHRKE .00 .00 .00 .000 .250 .300 $65,000.00 N
600082950 KAVOUSSI .00 .00 .00 .000 .250 .300 $65,000.00 N
600082951 DRIVER .00 .00 .00 .000 .250 .300 $63,000.00 N
600082952 GRAMS .00 .00 .00 .000 .250 .300 $95,000.00 N
600082954 KILLACKY .00 .00 .00 .000 .250 .300 $245,000.00 N
600082956 MARSILIO .00 .00 .00 .000 .250 .300 $158,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 103
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600082957 GRUSZKA 9919 S 87TH COURT PALOS HILLS IL 60465 $93,341.57
600082959 RAFOU 3135 FARMDALE STERLING HEIGHT MI 48310 $149,711.07
600082964 HANDERSO 1819 HAWKCREST DRIVE JACKSONVILLE FL 32259 $144,596.91
600082966 PARTAIN 726 W BRADLEY STREET OWOSSO MI 48867 $43,927.37
600082968 CRAMER 1120 SOUTHFIELD STREET DEARBORN MI 48124 $76,332.84
600082969 EVANS 527 LONGWOOD LANE PEACHTREE CITY GA 30269 $98,642.50
600082970 MATERNIC 2559 BRUNSWICK CIRCLE WOODRIDGE IL 60517 $131,033.31
600082976 RAIMONDI 2008 SW DANFORTH CIRCLE PALM CITY FL 34990 $92,339.17
600082978 SHINA 4173 BRECKENRIDGE WEST BLOOMFIELD MI 48323 $131,094.26
600082979 HELLWEGE 5622 SCEPTER PLACE COLUMBUS OH 43235 $99,796.04
600082980 YUDKIN 4011 KLOMAN STREET ANNANDALE VA 22003 $199,594.72
600082981 PFLIEGER 5 S 448 GLENOBAN DR NAPERVILLE IL 60563 $116,072.49
600082982 HOYT 17609 JENNIFER LANE MINNETONKA MN 55345 $124,753.03
600082983 VISCUSO 155 NORTH HANLEY ROAD UNIVERSITY CITY MO 63105 $188,454.43
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600082957 GRUSZKA 8.875 .250 8.625 .0500 8.575 08/01/2027
600082959 RAFOU 8.250 .250 8.000 .0500 7.950 08/01/2027
600082964 HANDERSO 7.875 .250 7.625 .0500 7.575 07/01/2027
600082966 PARTAIN 9.000 .250 8.750 .0500 8.700 08/01/2027
600082968 CRAMER 7.625 .250 7.375 .0500 7.325 08/01/2027
600082969 EVANS 8.750 .250 8.500 .0500 8.450 08/01/2027
600082970 MATERNIC 9.000 .250 8.750 .0500 8.700 08/01/2027
600082976 RAIMONDI 8.750 .250 8.500 .0500 8.450 08/01/2027
600082978 SHINA 8.625 .250 8.375 .0500 8.325 09/01/2027
600082979 HELLWEGE 8.000 .250 7.750 .0500 7.700 08/01/2027
600082980 YUDKIN 8.000 .250 7.750 .0500 7.700 08/01/2027
600082981 PFLIEGER 9.375 .250 9.125 .0500 9.075 08/01/2027
600082982 HOYT 8.125 .250 7.875 .0500 7.825 08/01/2027
600082983 VISCUSO 8.500 .250 8.250 .0500 8.200 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600082957 GRUSZKA 0929547 $743.93 11/01/1997 360
600082959 RAFOU 0929825 $1,126.90 11/01/1997 360
600082964 HANDERSO 0930328 $1,051.35 11/01/1997 360
600082966 PARTAIN 0930524 $354.03 11/01/1997 360
600082968 CRAMER 0930649 $541.46 11/01/1997 360
600082969 EVANS 0930669 $786.70 11/01/1997 360
600082970 MATERNIC 0930829 $1,056.07 11/01/1997 360
600082976 RAIMONDI 0931293 $727.70 11/01/1997 360
600082978 SHINA 0931455 $1,026.68 11/01/1997 360
600082979 HELLWEGE 0931536 $733.76 11/01/1997 360
600082980 YUDKIN 0931593 $1,467.53 11/01/1997 360
600082981 PFLIEGER 0931671 $966.91 11/01/1997 360
600082982 HOYT 0931758 $928.12 11/01/1997 360
600082983 VISCUSO 0931783 $1,451.71 11/01/1997 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>
600082957 GRUSZKA .00 .00 .00 .000 .250 .300 $225,000.00 N
600082959 RAFOU .00 .00 .00 .000 .250 .300 $204,900.00 N
600082964 HANDERSO .00 .00 .00 .000 .250 .300 $194,000.00 N
600082966 PARTAIN .00 .00 .00 .000 .250 .300 $55,000.00 N
600082968 CRAMER .00 .00 .00 .000 .250 .300 $104,000.00 N
600082969 EVANS .00 .00 .00 .000 .250 .300 $128,500.00 N
600082970 MATERNIC .00 .00 .00 .000 .250 .300 $175,000.00 N
600082976 RAIMONDI .00 .00 .00 .000 .250 .300 $192,500.00 N
600082978 SHINA .00 .00 .00 .000 .250 .300 $165,000.00 N
600082979 HELLWEGE .00 .00 .00 .000 .250 .300 $125,000.00 N
600082980 YUDKIN .00 .00 .00 .000 .250 .300 $250,000.00 N
600082981 PFLIEGER .00 .00 .00 .000 .250 .300 $155,000.00 N
600082982 HOYT .00 .00 .00 .000 .250 .300 $185,000.00 N
600082983 VISCUSO .00 .00 .00 .000 .250 .300 $236,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 104
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600082984 REYNOLDS 705 WENDALL STREET WEST CHICAGO IL 60185 $98,794.26
600082985 O'BRIEN 128 ASBURY AVENUE EVANSTON IL 60202 $89,431.76
600082986 JENSEN S 856 CANTERBURY LANE CRYSTAL LAKE IL 60014 $94,194.37
600082987 CARTER 10410 HUMMINGBIRD STREET COON RAPIDS MN 55433 $98,200.62
600082988 MCKIERNA 3626 QUINCY STREET HOLLAND MI 49424 $59,856.79
600082990 MARRERO 2244 HABERSHAM DRIVE CLEARWATER FL 34624 $80,652.12
600082993 MINTON 44 FISHERMANS COVE PONTE VEDRA BEA FL 33082 $124,669.59
600082995 ROMAN 3117 SAN FERNANDO DR DELRAY BEACH FL 33445 $51,664.57
600082997 BORAS 10105 WINDSTREAM DRIVE COLUMBIA MD 21044 $61,033.36
600082998 BEANE 5050 E MAIN STREET SOUTH BLOOMFIEL OH 43103 $57,485.33
600082999 EDWARDS 479 HAGUE AVENUE NORTH COLUMBUS OH 43204 $59,816.36
600083000 NEAL 4114 KINSWAY BALTIMORE MD 21206 $48,994.68
600083001 DENNISON 3702 BREAKER WATERFORD MI 48329 $64,884.05
600083004 COBLE 2631 HORSESHOE RIDGE DR ST CHARLES IL 63303 $112,376.64
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600082984 REYNOLDS 7.875 .250 7.625 .0500 7.575 08/01/2027
600082985 O'BRIEN 8.375 .250 8.125 .0500 8.075 08/01/2027
600082986 JENSEN S 8.625 .250 8.375 .0500 8.325 08/01/2027
600082987 CARTER 8.000 .250 7.750 .0500 7.700 08/01/2027
600082988 MCKIERNA 8.625 .250 8.375 .0500 8.325 07/01/2027
600082990 MARRERO 8.500 .250 8.250 .0500 8.200 08/01/2027
600082993 MINTON 8.125 .250 7.875 .0500 7.825 07/01/2027
600082995 ROMAN 9.000 .250 8.750 .0500 8.700 08/01/2027
600082997 BORAS 8.750 .250 8.500 .0500 8.450 07/01/2027
600082998 BEANE 9.500 .250 9.250 .0500 9.200 07/01/2027
600082999 EDWARDS 8.500 .250 8.250 .0500 8.200 08/01/2027
600083000 NEAL 9.000 .250 8.750 .0500 8.700 09/01/2027
600083001 DENNISON 8.625 .250 8.375 .0500 8.325 08/01/2027
600083004 COBLE 9.000 .250 8.750 .0500 8.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600082984 REYNOLDS 0931843 $717.82 11/01/1997 360
600082985 O'BRIEN 0931845 $681.02 11/01/1997 360
600082986 JENSEN S 0931861 $734.23 11/01/1997 360
600082987 CARTER 0931945 $722.02 11/01/1997 360
600082988 MCKIERNA 0932249 $466.67 11/01/1997 360
600082990 MARRERO 0932450 $621.28 11/01/1997 360
600082993 MINTON 0932569 $928.12 11/01/1997 360
600082995 ROMAN 0932641 $416.39 11/01/1997 360
600082997 BORAS 0932713 $481.46 12 11/01/1997 360
600082998 BEANE 0932714 $484.33 19 11/01/1997 360
600082999 EDWARDS 0932794 $461.35 11/01/1997 360
600083000 NEAL 0932803 $398.29 11/01/1997 360
600083001 DENNISON 0932821 $505.56 11/01/1997 360
600083004 COBLE 0933035 $905.20 11/01/1997 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>
600082984 REYNOLDS .00 .00 .00 .000 .250 .300 $144,000.00 N
600082985 O'BRIEN .00 .00 .00 .000 .250 .300 $119,500.00 N
600082986 JENSEN S .00 .00 .00 .000 .250 .300 $118,000.00 N
600082987 CARTER .00 .00 .00 .000 .250 .300 $123,000.00 N
600082988 MCKIERNA .00 .00 .00 .000 .250 .300 $89,000.00 N
600082990 MARRERO .00 .00 .00 .000 .250 .300 $101,000.00 N
600082993 MINTON .00 .00 .00 .000 .250 .300 $185,000.00 N
600082995 ROMAN .00 .00 .00 .000 .250 .300 $69,000.00 N
600082997 BORAS .00 .00 .00 .000 .250 .300 $68,000.00 N
600082998 BEANE .00 .00 .00 .000 .250 .300 $64,000.00 N
600082999 EDWARDS .00 .00 .00 .000 .250 .300 $80,000.00 N
600083000 NEAL .00 .00 .00 .000 .250 .300 $66,000.00 N
600083001 DENNISON .00 .00 .00 .000 .250 .300 $129,000.00 N
600083004 COBLE .00 .00 .00 .000 .250 .300 $150,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 105
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083005 GABRYS 38333 ASHBROOKE FARMINGTON HILL MI 48331 $119,780.36
600083006 PETRICH 5889 INDIAN RIDGE CIRCLE PRIOR LAKE MN 55372 $99,812.24
600083007 PARISI 7707 ARBOR WONDER LAKE IL 60097 $54,282.86
600083009 MILLER 70 WEST BURTON PLACE CHICAGO IL 60610 $59,887.35
600083011 ABBGY 620 SILVER CREEK RD WHITEHALL MI 49461 $139,825.36
600083012 SHAUGHNE 110 DOMBEY ROAD SAVANNAH GA 31410 $118,194.62
600083015 ZIEBELL 796 EAST BROADWAY MILFORD CT 6460 $95,819.73
600083018 LILL 1770 BEN FRANKLIN DR SARASOTA FL 34236 $119,712.21
600083019 REGRAGUI 7756 BERMUDA DUNES DRIVE ORLANDO FL 32819 $90,234.53
600083021 NGUYEN 434 JAX ESTATE DRIVE JACKSONVILLE FL 32218 $82,245.28
600083022 SOBERS 6300 FLOTILLA DRIVE HOLMES BEACH FL 34217 $60,988.16
600083023 HESS 506 36TH STREET WEST PALMETTO FL 34221 $96,926.79
600083024 OLSEN 4904 W24TH STREET BRADENTON FL 34207 $64,367.57
600083025 SMITH 124 SEMINOLE DRIVE GREENVILLE SC 29605 $132,525.08
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083005 GABRYS 8.500 .250 8.250 .0500 8.200 08/01/2027
600083006 PETRICH 8.375 .250 8.125 .0500 8.075 08/01/2027
600083007 PARISI 9.125 .250 8.875 .0500 8.825 07/01/2027
600083009 MILLER 8.375 .250 8.125 .0500 8.075 08/01/2027
600083011 ABBGY 8.375 .250 8.125 .0500 8.075 09/01/2027
600083012 SHAUGHNE 8.250 .250 8.000 .0500 7.950 07/01/2027
600083015 ZIEBELL 8.375 .250 8.125 .0500 8.075 08/01/2027
600083018 LILL 8.000 .250 7.750 .0500 7.700 08/01/2027
600083019 REGRAGUI 8.500 .250 8.250 .0500 8.200 08/01/2027
600083021 NGUYEN 8.375 .250 8.125 .0500 8.075 08/01/2027
600083022 SOBERS 8.500 .250 8.250 .0500 8.200 08/01/2027
600083023 HESS 8.625 .250 8.375 .0500 8.325 08/01/2027
600083024 OLSEN 9.000 .250 8.750 .0500 8.700 08/01/2027
600083025 SMITH 8.875 .250 8.625 .0500 8.575 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083005 GABRYS 0933146 $922.70 11/01/1997 360
600083006 PETRICH 0933162 $760.07 11/01/1997 360
600083007 PARISI 0933176 $442.62 11/01/1997 360
600083009 MILLER 0933260 $456.04 11/01/1997 360
600083011 ABBGY 0933615 $1,064.10 11/01/1997 360
600083012 SHAUGHNE 0933740 $890.25 11/01/1997 360
600083015 ZIEBELL 0933992 $729.67 11/01/1997 360
600083018 LILL 0934056 $880.52 11/01/1997 360
600083019 REGRAGUI 0934057 $695.10 11/01/1997 360
600083021 NGUYEN 0934089 $626.30 11/01/1997 360
600083022 SOBERS 0934095 $469.81 11/01/1997 360
600083023 HESS 0934103 $755.23 2 11/01/1997 360
600083024 OLSEN 0934125 $518.98 11/01/1997 360
600083025 SMITH 0934188 $1,056.22 11/01/1997 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>
600083005 GABRYS .00 .00 .00 .000 .250 .300 $165,000.00 N
600083006 PETRICH .00 .00 .00 .000 .250 .300 $140,000.00 N
600083007 PARISI .00 .00 .00 .000 .250 .300 $68,000.00 N
600083009 MILLER .00 .00 .00 .000 .250 .300 $75,000.00 N
600083011 ABBGY .00 .00 .00 .000 .250 .300 $175,000.00 N
600083012 SHAUGHNE .00 .00 .00 .000 .250 .300 $158,000.00 N
600083015 ZIEBELL .00 .00 .00 .000 .250 .300 $120,000.00 N
600083018 LILL .00 .00 .00 .000 .250 .300 $180,000.00 N
600083019 REGRAGUI .00 .00 .00 .000 .250 .300 $113,000.00 N
600083021 NGUYEN .00 .00 .00 .000 .250 .300 $103,000.00 N
600083022 SOBERS .00 .00 .00 .000 .250 .300 $81,500.00 N
600083023 HESS .00 .00 .00 .000 .250 .300 $115,000.00 N
600083024 OLSEN .00 .00 .00 .000 .250 .300 $86,000.00 N
600083025 SMITH .00 .00 .00 .000 .250 .300 $177,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 106
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083026 HIMROD 1139 DARROW EVANSTON IL 60202 $151,025.39
600083028 COLES 4601 WWEST TOUHY LINCOLNWOOD IL 60646 $131,365.24
600083030 MILLER 505 ZION LANE ZIONSVILLE IN 46077 $85,842.59
600083032 LONG 620 E WHITTIER ST COLUMBUS OH 43206 $45,913.63
600083033 MARSHALL 131 EAST MILL STREET WAUCONDA IL 60084 $44,923.76
600083035 GOODE JR 562 E50TH PLACE CHICAGO IL 60615 $183,770.48
600083037 WALTON 2337 SW FISSURE LOOP NORT REDMOND OR 97756 $53,895.99
600083038 BENTLEY 5611 GREENFIELD DRIVE GALENA OH 43021 $167,003.71
600083041 SHOEMAKE 505 TYLER STREET DALTON GA 30720 $39,525.64
600083045 HATFIELD 6330 FORRESTER DRIVE BRADENTON FL 34202 $164,674.01
600083047 SMITH 1936 LEWISTON DRIVE LOUISVILLE KY 40216 $51,662.30
600083049 DECLET 2972 VISCOUNT CIRCLE KISSIMMEE FL 34747 $78,513.26
600083050 LEMONS 1023 VERDI WAY CLARKSTON GA 30021 $67,862.20
600083051 BOWKER 1813 GLADYS/3159 HILSDALE LARGO FL 33774 $103,814.47
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083026 HIMROD 8.750 .250 8.500 .0500 8.450 09/01/2027
600083028 COLES 8.625 .250 8.375 .0500 8.325 08/01/2027
600083030 MILLER 8.500 .250 8.250 .0500 8.200 08/01/2027
600083032 LONG 8.375 .250 8.125 .0500 8.075 08/01/2027
600083033 MARSHALL 8.875 .250 8.625 .0500 8.575 08/01/2027
600083035 GOODE JR 8.375 .250 8.125 .0500 8.075 09/01/2027
600083037 WALTON 8.250 .250 8.000 .0500 7.950 08/01/2027
600083038 BENTLEY 8.500 .250 8.250 .0500 8.200 08/01/2027
600083041 SHOEMAKE 8.375 .250 8.125 .0500 8.075 08/01/2027
600083045 HATFIELD 8.125 .250 7.875 .0500 7.825 08/01/2027
600083047 SMITH 8.875 .250 8.625 .0500 8.575 08/01/2027
600083049 DECLET 8.750 .250 8.500 .0500 8.450 08/01/2027
600083050 LEMONS 8.000 .250 7.750 .0500 7.700 08/01/2027
600083051 BOWKER 8.625 .250 8.375 .0500 8.325 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083026 HIMROD 0934237 $1,189.49 12 11/01/1997 360
600083028 COLES 0934402 $1,023.57 11/01/1997 360
600083030 MILLER 0934563 $661.27 11/01/1997 360
600083032 LONG 0934823 $349.63 11/01/1997 360
600083033 MARSHALL 0934857 $358.04 11/01/1997 360
600083035 GOODE JR 0934938 $1,398.53 11/01/1997 360
600083037 WALTON 0935062 $405.68 11/01/1997 360
600083038 BENTLEY 0935235 $1,297.16 11/01/1997 360
600083041 SHOEMAKE 0935299 $300.99 2 11/01/1997 360
600083045 HATFIELD 0935338 $1,225.12 11/01/1997 360
600083047 SMITH 0935358 $411.75 11/01/1997 360
600083049 DECLET 0935427 $618.74 11/01/1997 360
600083050 LEMONS 0935484 $498.96 11/01/1997 360
600083051 BOWKER 0935493 $808.90 11/01/1997 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>
600083026 HIMROD .00 .00 .00 .000 .250 .300 $172,000.00 N
600083028 COLES .00 .00 .00 .000 .250 .300 $164,500.00 N
600083030 MILLER .00 .00 .00 .000 .250 .300 $210,000.00 N
600083032 LONG .00 .00 .00 .000 .250 .300 $64,000.00 N
600083033 MARSHALL .00 .00 .00 .000 .250 .300 $78,000.00 N
600083035 GOODE JR .00 .00 .00 .000 .250 .300 $230,000.00 N
600083037 WALTON .00 .00 .00 .000 .250 .300 $72,000.00 N
600083038 BENTLEY .00 .00 .00 .000 .250 .300 $220,000.00 N
600083041 SHOEMAKE .00 .00 .00 .000 .250 .300 $44,000.00 N
600083045 HATFIELD .00 .00 .00 .000 .250 .300 $220,000.00 N
600083047 SMITH .00 .00 .00 .000 .250 .300 $69,000.00 N
600083049 DECLET .00 .00 .00 .000 .250 .300 $104,900.00 N
600083050 LEMONS .00 .00 .00 .000 .250 .300 $85,000.00 N
600083051 BOWKER .00 .00 .00 .000 .250 .300 $130,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 107
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083052 ROLLINGE 1825 TARPON LANE VERO BEACH FL 32960 $49,903.70
600083055 HUFF 609- E613 DOROTHY LANE KETTERING OH 45419 $79,867.91
600083056 SNIPES 389 WOODBURY PINES CIRCL ORLANDO FL 32828 $109,569.99
600083057 WORKMAN 3736 BREMEN PASS CLEVELAND OH 45002 $109,761.41
600083058 COOMBE 4103 HAMPSTEAD LANE WOODBRIDGE VA 22192 $120,789.61
600083060 EVANS 1214 E JOHNSTON OLATHE KS 66061 $52,056.96
600083061 STANLEY 9974 OLD WAGON TRAIL EDEN PRAIRIE MN 55347 $184,116.50
600083062 MAMULA 1721 OXNARD DRIVE DOWNERS GROVE IL 60516 $157,807.90
600083063 POLASEK 1410 SUE BARNETT DRIVE HOUSTON TX 77018 $71,468.96
600083065 MINEO 6429 W164TH PLACE TINLEY PARK IL 60477 $114,863.71
600083067 CARDWELL 700 S RAVEN ROAD SHOREWOOD IL 60431 $114,827.63
600083068 FETTY 4603 S ROUTE 47 WOODSTOCK IL 60098 $125,769.38
600083072 THOMAS 11704 GREAT OWL CIRCLE RESTON VA 20194 $152,449.02
600083073 FRONK 1003 BURGOYNE DRIVE CINCINNATI OH 45245 $78,908.77
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083052 ROLLINGE 8.250 .250 8.000 .0500 7.950 08/01/2027
600083055 HUFF 9.000 .250 8.750 .0500 8.700 08/01/2027
600083056 SNIPES 8.625 .250 8.375 .0500 8.325 09/01/2027
600083057 WORKMAN 8.250 .250 8.000 .0500 7.950 08/01/2027
600083058 COOMBE 8.750 .250 8.500 .0500 8.450 08/01/2027
600083060 EVANS 8.625 .250 8.375 .0500 8.325 08/01/2027
600083061 STANLEY 8.250 .250 8.000 .0500 7.950 08/01/2027
600083062 MAMULA 8.500 .250 8.250 .0500 8.200 09/01/2027
600083063 POLASEK 8.500 .250 8.250 .0500 8.200 08/01/2027
600083065 MINEO 8.625 .250 8.375 .0500 8.325 09/01/2027
600083067 CARDWELL 8.125 .250 7.875 .0500 7.825 09/01/2027
600083068 FETTY 8.500 .250 8.250 .0500 8.200 08/01/2027
600083072 THOMAS 7.375 .250 7.125 .0500 7.075 08/01/2027
600083073 FRONK 8.750 .250 8.500 .0500 8.450 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083052 ROLLINGE 0935514 $375.63 11/01/1997 360
600083055 HUFF 0936048 $643.70 11/01/1997 360
600083056 SNIPES 0936068 $853.24 12 11/01/1997 360
600083057 WORKMAN 0936075 $826.39 11/01/1997 360
600083058 COOMBE 0936090 $951.91 7 11/01/1997 360
600083060 EVANS 0936255 $405.62 2 11/01/1997 360
600083061 STANLEY 0936280 $1,386.09 11/01/1997 360
600083062 MAMULA 0936283 $1,214.88 11/01/1997 360
600083063 POLASEK 0936307 $550.54 12 11/01/1997 360
600083065 MINEO 0936393 $894.46 12 11/01/1997 360
600083067 CARDWELL 0936469 $853.87 11/01/1997 360
600083068 FETTY 0936548 $968.83 11/01/1997 360
600083072 THOMAS 0936735 $1,055.36 11/01/1997 360
600083073 FRONK 0936761 $621.49 11/01/1997 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>
600083052 ROLLINGE .00 .00 .00 .000 .250 .300 $85,000.00 N
600083055 HUFF .00 .00 .00 .000 .250 .300 $115,000.00 N
600083056 SNIPES .00 .00 .00 .000 .250 .300 $121,900.00 N
600083057 WORKMAN .00 .00 .00 .000 .250 .300 $227,500.00 N
600083058 COOMBE .00 .00 .00 .000 .250 .300 $145,000.00 N
600083060 EVANS .00 .00 .00 .000 .250 .300 $57,950.00 N
600083061 STANLEY .00 .00 .00 .000 .250 .300 $246,239.00 N
600083062 MAMULA .00 .00 .00 .000 .250 .300 $200,000.00 N
600083063 POLASEK .00 .00 .00 .000 .250 .300 $79,600.00 N
600083065 MINEO .00 .00 .00 .000 .250 .300 $130,000.00 N
600083067 CARDWELL .00 .00 .00 .000 .250 .300 $154,000.00 N
600083068 FETTY .00 .00 .00 .000 .250 .300 $168,000.00 N
600083072 THOMAS .00 .00 .00 .000 .250 .300 $191,000.00 N
600083073 FRONK .00 .00 .00 .000 .250 .300 $126,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 108
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083074 MORTON 5054 DEER CREEK PLACE INDIANAPOLIS IN 46254 $91,688.37
600083075 SNYMAN 312 21ST ST VIRGINIA BEACH VA 23451 $169,793.31
600083076 VALRANCE 357 UNIVERSITY SOUTH LYON MI 48178 $94,628.26
600083078 HESS 715 FARMINGTON ROAD ACCOKEEK MD 20607 $91,682.51
600083082 RINCK 81 GROVE STREET COOPERSVILLE MI 49404 $69,087.19
600083083 MORGAN 4131 ASHFORD WAY GAINSVILLE GA 30507 $191,610.93
600083084 HOOPER 2910 BURCH AVENUE NASHVILLE TN 37203 $149,711.07
600083085 NEWBY 2118 BLAIR BOULEVARD NASHVILLE TN 37212 $198,367.18
600083087 LIDDLE 1975 PALM ACRES DRIVE WEST PALM BEACH FL 33406 $109,318.80
600083088 PUGLIESE 754 HARBOR WAY PALM HARBOR FL 34683 $74,663.08
600083090 LEDOUX J 10 GOSNOLD STREET HYANNIS MA 2601 $104,118.65
600083091 BURGOON 3754 LIGHTHOUSE DRIVE PALM BEACH GARD FL 33410 $92,145.12
600083092 WYLDE KA 425 AVENIDA DEL NORTE SARASOTA FL 34242 $165,702.05
600083093 MARTINS 419 ORIOLE CIRCLE PALM HARBOR FL 34683 $114,972.39
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083074 MORTON 8.500 .250 8.250 .0500 8.200 09/01/2027
600083075 SNYMAN 8.500 .250 8.250 .0500 8.200 09/01/2027
600083076 VALRANCE 8.250 .250 8.000 .0500 7.950 09/01/2027
600083078 HESS 8.250 .250 8.000 .0500 7.950 09/01/2027
600083082 RINCK 8.375 .250 8.125 .0500 8.075 09/01/2027
600083083 MORGAN 8.000 .250 7.750 .0500 7.700 08/01/2027
600083084 HOOPER 8.250 .250 8.000 .0500 7.950 08/01/2027
600083085 NEWBY 8.250 .250 8.000 .0500 7.950 08/01/2027
600083087 LIDDLE 8.500 .250 8.250 .0500 8.200 08/01/2027
600083088 PUGLIESE 8.500 .250 8.250 .0500 8.200 08/01/2027
600083090 LEDOUX J 8.750 .250 8.500 .0500 8.450 08/01/2027
600083091 BURGOON 8.375 .250 8.125 .0500 8.075 08/01/2017
600083092 WYLDE KA 8.625 .250 8.375 .0500 8.325 08/01/2027
600083093 MARTINS 8.125 .250 7.875 .0500 7.825 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083074 MORTON 0936767 $705.87 12 11/01/1997 360
600083075 SNYMAN 0936821 $1,307.15 11/01/1997 360
600083076 VALRANCE 0936889 $712.58 11/01/1997 360
600083078 HESS 0936933 $689.67 7 11/01/1997 360
600083082 RINCK 0937144 $525.97 11/01/1997 360
600083083 MORGAN 0937174 $1,408.83 11/01/1997 360
600083084 HOOPER 0937184 $1,126.90 11/01/1997 360
600083085 NEWBY 0937185 $1,493.14 11/01/1997 360
600083087 LIDDLE 0937221 $845.80 11/01/1997 360
600083088 PUGLIESE 0937245 $575.15 11/01/1997 360
600083090 LEDOUX J 0937299 $820.53 2 11/01/1997 360
600083091 BURGOON 0937313 $798.01 11/01/1997 240
600083092 WYLDE KA 0937317 $1,291.13 11/01/1997 360
600083093 MARTINS 0937368 $855.36 11/01/1997 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>
600083074 MORTON .00 .00 .00 .000 .250 .300 $102,000.00 N
600083075 SNYMAN .00 .00 .00 .000 .250 .300 $260,000.00 N
600083076 VALRANCE .00 .00 .00 .000 .250 .300 $135,500.00 N
600083078 HESS .00 .00 .00 .000 .250 .300 $102,000.00 N
600083082 RINCK .00 .00 .00 .000 .250 .300 $86,500.00 N
600083083 MORGAN .00 .00 .00 .000 .250 .300 $240,000.00 N
600083084 HOOPER .00 .00 .00 .000 .250 .300 $200,000.00 N
600083085 NEWBY .00 .00 .00 .000 .250 .300 $265,000.00 N
600083087 LIDDLE .00 .00 .00 .000 .250 .300 $141,000.00 N
600083088 PUGLIESE .00 .00 .00 .000 .250 .300 $93,500.00 N
600083090 LEDOUX J .00 .00 .00 .000 .250 .300 $115,900.00 N
600083091 BURGOON .00 .00 .00 .000 .250 .300 $116,000.00 N
600083092 WYLDE KA .00 .00 .00 .000 .250 .300 $207,500.00 N
600083093 MARTINS .00 .00 .00 .000 .250 .300 $144,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 109
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083094 VALERY 10290 138TH STREET NORTH LARGO FL 33774 $85,451.17
600083095 GRAUSO 10880 SEA PINES CIRCLE HOBE SOUND FL 33455 $65,479.93
600083097 FICKEL 427 14TH STREET OCEAN CITY MD 21842 $134,952.55
600083098 MCFADDEN 238 240 N PLUM STREET SPRINGFIELD OH 45504 $43,157.44
600083099 BUCHMAN 3418 HOLLY AVE FLINT MI 48506 $39,948.80
600083101 MORIN 625 S MONTFORD AVE BALTIMORE MD 21224 $51,652.82
600083102 MINOR 23 NORWOOD COURT SAVANNAH GA 31406 $75,746.19
600083103 CUMMANS 11935A WEBB SUMMIT ROAD S BREMAN OH 43107 $87,821.69
600083109 SPANOS 230 N REDFIELD COURT PARK RIDGE IL 60068 $139,730.35
600083111 DARFLING 786 MESA DRIVE ELGIN IL 60123 $103,672.96
600083112 FELLAND 5400 10TH AVE S MINNEAPOLIS MN 55417 $103,310.54
600083117 PAPALITS 7590 KORBEL DRIVE GURNEE IL 60031 $199,536.12
600083123 HOVEY 1672 VAN PELT STREET COLUMBUS OH 43220 $49,906.10
600083124 AVILA 1570 PARK PLACE ROAD WESTERVILLE OH 43081 $40,690.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083094 VALERY 8.750 .250 8.500 .0500 8.450 08/01/2027
600083095 GRAUSO 8.500 .250 8.250 .0500 8.200 08/01/2027
600083097 FICKEL 8.500 .250 8.250 .0500 8.200 08/01/2027
600083098 MCFADDEN 9.250 .250 9.000 .0500 8.950 08/01/2027
600083099 BUCHMAN 8.250 .250 8.000 .0500 7.950 09/01/2027
600083101 MORIN 8.375 .250 8.125 .0500 8.075 08/01/2027
600083102 MINOR 8.000 .250 7.750 .0500 7.700 08/01/2027
600083103 CUMMANS 8.000 .250 7.750 .0500 7.700 08/01/2027
600083109 SPANOS 8.250 .250 8.000 .0500 7.950 08/01/2027
600083111 DARFLING 7.625 .250 7.375 .0500 7.325 08/01/2027
600083112 FELLAND 8.500 .250 8.250 .0500 8.200 08/01/2027
600083117 PAPALITS 8.125 .250 7.875 .0500 7.825 09/01/2027
600083123 HOVEY 8.375 .250 8.125 .0500 8.075 08/01/2027
600083124 AVILA 8.500 .250 8.250 .0500 8.200 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083094 VALERY 0937413 $673.42 11/01/1997 360
600083095 GRAUSO 0937465 $504.41 11/01/1997 360
600083097 FICKEL 0937582 $1,039.57 11/01/1997 360
600083098 MCFADDEN 0937641 $357.86 11/01/1997 360
600083099 BUCHMAN 0937656 $300.51 11/01/1997 360
600083101 MORIN 0937794 $393.34 2 11/01/1997 360
600083102 MINOR 0937824 $556.93 11/01/1997 360
600083103 CUMMANS 0937838 $645.71 11/01/1997 360
600083109 SPANOS 0938140 $1,051.77 11/01/1997 360
600083111 DARFLING 0938178 $735.40 11/01/1997 360
600083112 FELLAND 0938244 $795.83 11/01/1997 360
600083117 PAPALITS 0938325 $1,484.99 11/01/1997 360
600083123 HOVEY 0938643 $380.04 11/01/1997 360
600083124 AVILA 0938645 $319.87 11/01/1997 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>
600083094 VALERY .00 .00 .00 .000 .250 .300 $107,000.00 N
600083095 GRAUSO .00 .00 .00 .000 .250 .300 $82,000.00 N
600083097 FICKEL .00 .00 .00 .000 .250 .300 $169,000.00 N
600083098 MCFADDEN .00 .00 .00 .000 .250 .300 $58,000.00 N
600083099 BUCHMAN .00 .00 .00 .000 .250 .300 $58,000.00 N
600083101 MORIN .00 .00 .00 .000 .250 .300 $57,500.00 N
600083102 MINOR .00 .00 .00 .000 .250 .300 $94,900.00 N
600083103 CUMMANS .00 .00 .00 .000 .250 .300 $110,000.00 N
600083109 SPANOS .00 .00 .00 .000 .250 .300 $175,000.00 N
600083111 DARFLING .00 .00 .00 .000 .250 .300 $129,990.00 N
600083112 FELLAND .00 .00 .00 .000 .250 .300 $143,500.00 N
600083117 PAPALITS .00 .00 .00 .000 .250 .300 $250,000.00 N
600083123 HOVEY .00 .00 .00 .000 .250 .300 $93,000.00 N
600083124 AVILA .00 .00 .00 .000 .250 .300 $52,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 110
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083128 WHITTENB 831 LANTERN DRIVE MARYSVILLE OH 43040 $97,774.77
600083131 SICKELS 52 HOCKING STREET CANAL WINCHESTE OH 43110 $61,129.32
600083132 STERN 1839 SHIPMAN BLVD BIRMINGHAM MI 48009 $147,810.61
600083133 TACKETT 37 SOUTH MAIN STREET CEDARVILLE OH 45314 $67,890.61
600083134 CURTIS 3411 MULHEARN AVENUE KALAMAZOO MI 49001 $40,003.75
600083135 VANHOUTT 2295 LANCASTER ROAD BLOOMFIELD TOWN MI 48302 $125,085.58
600083138 WOLMER 221 PINECREST PLACE POOLER GA 31322 $54,888.55
600083140 THORNE 6266 WOODCHUCK PLACE WALDORF MD 20603 $102,823.78
600083141 DIGET 30 COLLIER RD ATLANTA GA 30309 $70,283.78
600083145 CLEMENTI 2312 KENTUCK COURT NAPERVILLE IL 60564 $185,142.69
600083146 NOONAN 11316 WATKINS RD MARYSVILLE OH 43040 $74,112.07
600083147 SMILEY 45 NORTHGATE DRIVE PONTE VERDA BEA FL 32082 $159,784.58
600083148 NORTON 8600 MESSICK DRIVE PENSACOLA FL 32534 $64,882.27
600083150 COSTA 1803 MOORES MILL RD ATLANTA GA 30318 $128,799.43
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083128 WHITTENB 8.125 .250 7.875 .0500 7.825 08/01/2027
600083131 SICKELS 8.750 .250 8.500 .0500 8.450 09/01/2027
600083132 STERN 8.250 .250 8.000 .0500 7.950 09/01/2027
600083133 TACKETT 9.125 .250 8.875 .0500 8.825 08/01/2027
600083134 CURTIS 8.750 .250 8.500 .0500 8.450 09/01/2027
600083135 VANHOUTT 8.125 .250 7.875 .0500 7.825 09/01/2027
600083138 WOLMER 8.000 .250 7.750 .0500 7.700 08/01/2027
600083140 THORNE 8.250 .250 8.000 .0500 7.950 09/01/2027
600083141 DIGET 9.000 .250 8.750 .0500 8.700 08/01/2027
600083145 CLEMENTI 8.250 .250 8.000 .0500 7.950 08/01/2027
600083146 NOONAN 8.250 .250 8.000 .0500 7.950 09/01/2027
600083147 SMILEY 8.000 .250 7.750 .0500 7.700 09/01/2027
600083148 NORTON 8.000 .250 7.750 .0500 7.700 09/01/2027
600083150 COSTA 8.000 .250 7.750 .0500 7.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083128 WHITTENB 0938850 $728.39 2 11/01/1997 360
600083131 SICKELS 0938988 $481.46 19 11/01/1997 360
600083132 STERN 0939022 $1,111.87 11/01/1997 360
600083133 TACKETT 0939071 $553.27 11/01/1997 360
600083134 CURTIS 0939223 $315.07 12 11/01/1997 360
600083135 VANHOUTT 0939299 $929.98 11/01/1997 360
600083138 WOLMER 0939545 $403.57 11/01/1997 360
600083140 THORNE 0939698 $777.57 7 11/01/1997 360
600083141 DIGET 0939722 $566.45 11/01/1997 360
600083145 CLEMENTI 0940062 $1,393.60 11/01/1997 360
600083146 NOONAN 0940255 $563.45 11/01/1997 360
600083147 SMILEY 0940427 $1,174.02 11/01/1997 360
600083148 NORTON 0940449 $476.95 11/01/1997 360
600083150 COSTA 0940524 $946.56 11/01/1997 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>
600083128 WHITTENB .00 .00 .00 .000 .250 .300 $109,000.00 N
600083131 SICKELS .00 .00 .00 .000 .250 .300 $68,000.00 N
600083132 STERN .00 .00 .00 .000 .250 .300 $185,000.00 N
600083133 TACKETT .00 .00 .00 .000 .250 .300 $93,000.00 N
600083134 CURTIS .00 .00 .00 .000 .250 .300 $44,500.00 N
600083135 VANHOUTT .00 .00 .00 .000 .250 .300 $167,000.00 N
600083138 WOLMER .00 .00 .00 .000 .250 .300 $82,500.00 N
600083140 THORNE .00 .00 .00 .000 .250 .300 $109,000.00 N
600083141 DIGET .00 .00 .00 .000 .250 .300 $88,000.00 N
600083145 CLEMENTI .00 .00 .00 .000 .250 .300 $231,900.00 N
600083146 NOONAN .00 .00 .00 .000 .250 .300 $110,000.00 N
600083147 SMILEY .00 .00 .00 .000 .250 .300 $200,000.00 N
600083148 NORTON .00 .00 .00 .000 .250 .300 $104,900.00 N
600083150 COSTA .00 .00 .00 .000 .250 .300 $172,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 111
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083151 BRUNELLE 4120 SPALDING HOLLOW NORCROSS GA 30092 $194,762.90
600083152 SAUERS 245 SCARBOROUGH TERRACE WELLINGTON FL 33414 $167,790.43
600083154 NOBLE 2830 FRENCH ROAD BEAUMONT TX 77706 $47,941.63
600083155 COX 332 GUDRUN ROAD COLUMBUS OH 43202 $143,725.02
600083156 DAVIS 51 CHRISTY DRIVE GREENWOOD IN 46143 $59,910.66
600083157 COBURN 18951 NORTH SHORE ROAD SPRING LAKE MI 49456 $109,862.78
600083158 LUZIETTI 356 HAYDEN ROAD TALLAHASSEE FL 32304 $62,028.28
600083160 PEI 6406 AVERY ISLAND AVENUE AUSTIN TX 78727 $56,423.92
600083161 NAIR 8 TOULON COURT SAVANNAH GA 31419 $83,295.96
600083162 PARDO 2765 GROVE STREET NATIONAL CITY CA 91950 $119,060.26
600083163 DEDDEH 7286 KEOKI COURT SAN DIEGO CA 92126 $141,377.13
600083165 BARTLETT 9806 NORTH MIDWAY AVENUE PORTLAND OR 97203 $113,042.70
600083167 SEAGER 542 CANNAVINA ROAD CARSON WA 98610 $83,897.86
600083168 STANNARD 23665 SOUTHWEST VOSS PLAC SHERWOOD OR 97140 $181,392.68
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083151 BRUNELLE 8.500 .250 8.250 .0500 8.200 09/01/2027
600083152 SAUERS 8.375 .250 8.125 .0500 8.075 09/01/2027
600083154 NOBLE 8.500 .250 8.250 .0500 8.200 09/01/2027
600083155 COX 8.500 .250 8.250 .0500 8.200 09/01/2027
600083156 DAVIS 7.500 .250 7.250 .0500 7.200 09/01/2027
600083157 COBURN 8.375 .250 8.125 .0500 8.075 09/01/2027
600083158 LUZIETTI 8.750 .250 8.500 .0500 8.450 09/01/2027
600083160 PEI 8.000 .250 7.750 .0500 7.700 09/01/2027
600083161 NAIR 8.375 .250 8.125 .0500 8.075 09/01/2027
600083162 PARDO 8.375 .250 8.125 .0500 8.075 08/01/2027
600083163 DEDDEH 8.375 .250 8.125 .0500 8.075 07/01/2027
600083165 BARTLETT 8.500 .250 8.250 .0500 8.200 08/01/2027
600083167 SEAGER 8.500 .250 8.250 .0500 8.200 09/01/2027
600083168 STANNARD 7.500 .250 7.250 .0500 7.200 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083151 BRUNELLE 0940789 $1,499.38 11/01/1997 360
600083152 SAUERS 0940885 $1,276.92 11/01/1997 360
600083154 NOBLE 0941100 $369.08 11/01/1997 360
600083155 COX 0941483 $1,106.47 19 11/01/1997 360
600083156 DAVIS 0941890 $419.53 11/01/1997 360
600083157 COBURN 0942097 $836.08 11/01/1997 360
600083158 LUZIETTI 0942159 $488.54 12 11/01/1997 360
600083160 PEI 0943713 $414.58 11/01/1997 360
600083161 NAIR 0944246 $633.90 2 11/01/1997 360
600083162 PARDO 6210066 $912.09 11/01/1997 360
600083163 DEDDEH 6210988 $1,124.15 11/01/1997 360
600083165 BARTLETT 6211462 $870.80 11/01/1997 360
600083167 SEAGER 6211546 $645.89 11/01/1997 360
600083168 STANNARD 6211552 $1,271.18 2 11/01/1997 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>
600083151 BRUNELLE .00 .00 .00 .000 .250 .300 $260,000.00 N
600083152 SAUERS .00 .00 .00 .000 .250 .300 $235,000.00 N
600083154 NOBLE .00 .00 .00 .000 .250 .300 $60,000.00 N
600083155 COX .00 .00 .00 .000 .250 .300 $159,900.00 N
600083156 DAVIS .00 .00 .00 .000 .250 .300 $87,000.00 N
600083157 COBURN .00 .00 .00 .000 .250 .300 $240,000.00 N
600083158 LUZIETTI .00 .00 .00 .000 .250 .300 $69,000.00 N
600083160 PEI .00 .00 .00 .000 .250 .300 $88,500.00 N
600083161 NAIR .00 .00 .00 .000 .250 .300 $92,700.00 N
600083162 PARDO .00 .00 .00 .000 .250 .300 $160,000.00 N
600083163 DEDDEH .00 .00 .00 .000 .250 .300 $197,500.00 N
600083165 BARTLETT .00 .00 .00 .000 .250 .300 $151,000.00 N
600083167 SEAGER .00 .00 .00 .000 .250 .300 $120,000.00 N
600083168 STANNARD .00 .00 .00 .000 .250 .300 $202,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 112
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083171 LAUNDREA 156 EAST CEDAR CREEK ROA SAN DIMAS CA 91773 $90,566.08
600083178 PRETS 4714 WEST DESERT HILLS DR GLENDALE AZ 85304 $68,870.43
600083179 SPRUIT 608 SOUTH DANYELL DRIVE CHANDLER AZ 85225 $61,881.56
600083181 PUTMAN 1832 VILLINES AVENUE SAN JACINTO CA 92583 $94,243.81
600083186 MOONEY 3422 NEVES WAY SAN JOSE CA 95127 $202,119.75
600083188 BLOM 3237 LIBERTY AVENUE ALAMEDA CA 94501 $182,622.15
600083189 AVERY 1881 LINDO STREET BENECIA CA 94510 $128,518.55
600083190 KAKAR 22732 WOOD LAKE LANE LAKE FOREST CA 92630 $163,566.49
600083191 JACKSON 9365 WEST IOWA PLACE LAKEWOOD CO 80232 $108,240.95
600083192 JACKSON 1641 SOUTH VALENTINE WAY LAKEWOOD CO 80228 $111,732.61
600083193 ERRICO 1830 WEST LEMONWOOD ROAD TUCSON AZ 85737 $149,395.82
600083194 PATCHETT 4835 EAST SHERIDAN STREET PHOENIX AZ 85008 $60,834.92
600083195 CLAY 10622 NORTH 11TH STREET PHOENIX AZ 85020 $125,272.50
600083196 MORRIS 862 WEST PINE KNOLL DRIV PRESCOTT AZ 86303 $63,778.77
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083171 LAUNDREA 8.000 .250 7.750 .0500 7.700 08/01/2027
600083178 PRETS 8.375 .250 8.125 .0500 8.075 08/01/2027
600083179 SPRUIT 8.375 .250 8.125 .0500 8.075 08/01/2027
600083181 PUTMAN 8.000 .250 7.750 .0500 7.700 07/01/2027
600083186 MOONEY 8.375 .250 8.125 .0500 8.075 08/01/2027
600083188 BLOM 8.250 .250 8.000 .0500 7.950 08/01/2027
600083189 AVERY 7.625 .250 7.375 .0500 7.325 08/01/2027
600083190 KAKAR 8.125 .250 7.875 .0500 7.825 07/01/2027
600083191 JACKSON 8.625 .250 8.375 .0500 8.325 07/01/2027
600083192 JACKSON 8.625 .250 8.375 .0500 8.325 07/01/2027
600083193 ERRICO 8.500 .250 8.250 .0500 8.200 08/01/2027
600083194 PATCHETT 9.125 .250 8.875 .0500 8.825 09/01/2027
600083195 CLAY 8.500 .250 8.250 .0500 8.200 08/01/2027
600083196 MORRIS 8.375 .250 8.125 .0500 8.075 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083171 LAUNDREA 6211680 $665.90 11/01/1997 360
600083178 PRETS 6215103 $524.45 11/01/1997 360
600083179 SPRUIT 6215111 $473.15 11/01/1997 360
600083181 PUTMAN 6222578 $693.41 11/01/1997 360
600083186 MOONEY 6233456 $1,539.15 11/01/1997 360
600083188 BLOM 6233474 $1,374.82 11/01/1997 360
600083189 AVERY 6233516 $911.64 11/01/1997 360
600083190 KAKAR 6235264 $1,217.70 11/01/1997 360
600083191 JACKSON 6235779 $843.91 11/01/1997 360
600083192 JACKSON 6235791 $871.13 11/01/1997 360
600083193 ERRICO 6235910 $1,153.37 11/01/1997 360
600083194 PATCHETT 6236115 $495.51 11/01/1997 360
600083195 CLAY 6236119 $965.76 11/01/1997 360
600083196 MORRIS 6236213 $486.45 11/01/1997 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>
600083171 LAUNDREA .00 .00 .00 .000 .250 .300 $121,000.00 N
600083178 PRETS .00 .00 .00 .000 .250 .300 $87,000.00 N
600083179 SPRUIT .00 .00 .00 .000 .250 .300 $83,000.00 N
600083181 PUTMAN .00 .00 .00 .000 .250 .300 $134,500.00 N
600083186 MOONEY .00 .00 .00 .000 .250 .300 $270,000.00 N
600083188 BLOM .00 .00 .00 .000 .250 .300 $244,000.00 N
600083189 AVERY .00 .00 .00 .000 .250 .300 $161,000.00 N
600083190 KAKAR .00 .00 .00 .000 .250 .300 $205,000.00 N
600083191 JACKSON .00 .00 .00 .000 .250 .300 $155,000.00 N
600083192 JACKSON .00 .00 .00 .000 .250 .300 $160,000.00 N
600083193 ERRICO .00 .00 .00 .000 .250 .300 $305,000.00 N
600083194 PATCHETT .00 .00 .00 .000 .250 .300 $87,000.00 N
600083195 CLAY .00 .00 .00 .000 .250 .300 $157,000.00 N
600083196 MORRIS .00 .00 .00 .000 .250 .300 $128,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 113
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083197 LEE 2716 EAST TURNEY AVENUE PHOENIX AZ 85016 $109,691.19
600083198 PEICOV 748-EAST MC KINLEY S PHOENIX AZ 85006 $24,956.52
600083199 SOLOMON 9956 NORTH CALLE LOMA LIN ORO VALLEY AZ 85737 $149,204.61
600083204 VITALE 9539 PASEO TEMPORADA SAN DIEGO CA 92129 $133,595.91
600083212 PODESTA 25662 SKYBIRD LANE LAKE FOREST CA 92630 $175,892.85
600083214 HARMON 6763 MULLEN PARKWAY REDDING CA 96001 $67,769.21
600083222 THOMPSON 2155 OLIVE AVENUE LONG BEACH CA 90806 $64,809.14
600083223 FRANCO J 3943 WEST MC FADDEN AVENU SANTA ANA CA 92704 $31,445.21
600083224 DONOHUE 4661 DESMOND CIRCLE OCEANSIDE CA 92056 $122,313.59
600083225 PARDO 2711 GROVE STREET NATIONAL CITY CA 91950 $118,776.53
600083226 CHEN 3953 CAMINITO DEL MAR SUR SAN DIEGO CA 92130 $125,414.07
600083228 HANENBUR 12097 CALLE DE MONTANA EL CAJON CA 92019 $78,394.29
600083229 HILLERS 13570 PYRAMID DRIVE VICTORVILLE CA 92392 $127,765.72
600083233 TERRANEO 3828 GAVIOTA AVENUE LONG BEACH CA 90807 $149,197.05
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083197 LEE 8.375 .250 8.125 .0500 8.075 08/01/2027
600083198 PEICOV 8.750 .250 8.500 .0500 8.450 08/01/2027
600083199 SOLOMON 8.125 .250 7.875 .0500 7.825 08/01/2027
600083204 VITALE 8.125 .250 7.875 .0500 7.825 07/01/2027
600083212 PODESTA 8.000 .250 7.750 .0500 7.700 08/01/2027
600083214 HARMON 8.250 .250 8.000 .0500 7.950 08/01/2027
600083222 THOMPSON 8.500 .250 8.250 .0500 8.200 07/01/2027
600083223 FRANCO J 8.750 .250 8.500 .0500 8.450 08/01/2027
600083224 DONOHUE 7.875 .250 7.625 .0500 7.575 08/01/2027
600083225 PARDO 8.375 .250 8.125 .0500 8.075 08/01/2027
600083226 CHEN 8.375 .250 8.125 .0500 8.075 08/01/2027
600083228 HANENBUR 8.000 .250 7.750 .0500 7.700 09/01/2027
600083229 HILLERS 8.500 .250 8.250 .0500 8.200 08/01/2027
600083233 TERRANEO 8.000 .250 7.750 .0500 7.700 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083197 LEE 6236215 $836.08 11/01/1997 360
600083198 PEICOV 6236249 $196.68 11/01/1997 360
600083199 SOLOMON 6236254 $1,110.04 11/01/1997 360
600083204 VITALE 6269846 $994.58 11/01/1997 360
600083212 PODESTA 6275912 $1,293.26 11/01/1997 360
600083214 HARMON 6284620 $510.11 11/01/1997 360
600083222 THOMPSON 6299358 $499.80 11/01/1997 360
600083223 FRANCO J 6299411 $247.82 11/01/1997 360
600083224 DONOHUE 6310037 $890.39 11/01/1997 360
600083225 PARDO 6310067 $904.49 11/01/1997 360
600083226 CHEN 6310089 $955.03 11/01/1997 360
600083228 HANENBUR 6310152 $576.01 11/01/1997 360
600083229 HILLERS 6311032 $984.21 11/01/1997 360
600083233 TERRANEO 6311303 $1,096.98 11/01/1997 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>
600083197 LEE .00 .00 .00 .000 .250 .300 $137,500.00 N
600083198 PEICOV .00 .00 .00 .000 .250 .300 $32,000.00 N
600083199 SOLOMON .00 .00 .00 .000 .250 .300 $230,000.00 N
600083204 VITALE .00 .00 .00 .000 .250 .300 $167,495.00 N
600083212 PODESTA .00 .00 .00 .000 .250 .300 $235,000.00 N
600083214 HARMON .00 .00 .00 .000 .250 .300 $84,900.00 N
600083222 THOMPSON .00 .00 .00 .000 .250 .300 $95,000.00 N
600083223 FRANCO J .00 .00 .00 .000 .250 .300 $45,000.00 N
600083224 DONOHUE .00 .00 .00 .000 .250 .300 $153,500.00 N
600083225 PARDO .00 .00 .00 .000 .250 .300 $150,000.00 N
600083226 CHEN .00 .00 .00 .000 .250 .300 $190,000.00 N
600083228 HANENBUR .00 .00 .00 .000 .250 .300 $125,500.00 N
600083229 HILLERS .00 .00 .00 .000 .250 .300 $160,000.00 N
600083233 TERRANEO .00 .00 .00 .000 .250 .300 $215,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 114
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083234 MARZAN 6628- 6632 LELAND WAY LOS ANGELES CA 90028 $130,722.30
600083235 RICE 12572 WEDGEWOOD CIRCLE TUSTIN CA 92782 $113,857.78
600083236 RIZO 15716 COUNTRY CLUB DRIVE CHINO HILLS CA 91709 $89,734.09
600083237 BROWN 965 967 NORTH ELEANOR ST POMONA CA 91767 $112,304.40
600083239 WHEATER 1601 NORTHWEST ALBANY AVE BEND OR 97701 $109,715.67
600083241 CARNES 1230 CREEKSIDE DRIVE HAILEY ID 83333 $57,925.77
600083242 MCCONN 3770 EAST PERSHING AVENUE PHOENIX AZ 85032 $52,209.04
600083243 SEGER 4501 NORTH CAMINO DEL REY TUCSON AZ 85718 $162,087.18
600083244 OH 6154 SOUTH MACON WAY ENGLEWOOD CO 80111 $189,544.80
600083246 LUGO 4613 NORTH LOST HORIZON D TUCSON AZ 85745 $131,773.52
600083247 FLYNN 9615 EAST SKINNER DRIVE SCOTTSDALE AZ 85262 $211,659.20
600083248 MASON 4418 EAST VOLTAIRE AVENUE PHOENIX AZ 85032 $88,392.40
600083250 HARRIS 235 WEST RIDGECREST ROAD PHOENIX AZ 85027 $150,893.58
600083251 SHUMWAY 4920 BADGER ROAD PESCOTT VALLEY AZ 86314 $114,856.53
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083234 MARZAN 8.750 .250 8.500 .0500 8.450 08/01/2027
600083235 RICE 8.375 .250 8.125 .0500 8.075 09/01/2027
600083236 RIZO 8.500 .250 8.250 .0500 8.200 08/01/2027
600083237 BROWN 8.750 .250 8.500 .0500 8.450 08/01/2027
600083239 WHEATER 7.750 .250 7.500 .0500 7.450 08/01/2027
600083241 CARNES 8.250 .250 8.000 .0500 7.950 09/01/2027
600083242 MCCONN 8.750 .250 8.500 .0500 8.450 08/01/2027
600083243 SEGER 8.250 .250 8.000 .0500 7.950 08/01/2027
600083244 OH 8.000 .250 7.750 .0500 7.700 08/01/2027
600083246 LUGO 8.000 .250 7.750 .0500 7.700 09/01/2027
600083247 FLYNN 7.875 .250 7.625 .0500 7.575 08/01/2027
600083248 MASON 8.500 .250 8.250 .0500 8.200 09/01/2027
600083250 HARRIS 8.000 .250 7.750 .0500 7.700 08/01/2027
600083251 SHUMWAY 8.375 .250 8.125 .0500 8.075 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083234 MARZAN 6311412 $1,030.19 2 11/01/1997 360
600083235 RICE 6311428 $866.49 11/01/1997 360
600083236 RIZO 6311471 $692.03 11/01/1997 360
600083237 BROWN 6311477 $885.04 11/01/1997 360
600083239 WHEATER 6311612 $787.70 11/01/1997 360
600083241 CARNES 6311679 $435.74 11/01/1997 360
600083242 MCCONN 6312005 $411.45 11/01/1997 360
600083243 SEGER 6312006 $1,220.06 11/01/1997 360
600083244 OH 6312031 $1,394.16 11/01/1997 360
600083246 LUGO 6312106 $968.57 11/01/1997 360
600083247 FLYNN 6312129 $1,537.88 11/01/1997 360
600083248 MASON 6312169 $680.49 11/01/1997 360
600083250 HARRIS 6312214 $1,109.46 11/01/1997 360
600083251 SHUMWAY 6312217 $874.09 11/01/1997 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>
600083234 MARZAN .00 .00 .00 .000 .250 .300 $145,500.00 N
600083235 RICE .00 .00 .00 .000 .250 .300 $152,000.00 N
600083236 RIZO .00 .00 .00 .000 .250 .300 $130,000.00 N
600083237 BROWN .00 .00 .00 .000 .250 .300 $150,000.00 N
600083239 WHEATER .00 .00 .00 .000 .250 .300 $219,900.00 N
600083241 CARNES .00 .00 .00 .000 .250 .300 $135,000.00 N
600083242 MCCONN .00 .00 .00 .000 .250 .300 $75,000.00 N
600083243 SEGER .00 .00 .00 .000 .250 .300 $250,000.00 N
600083244 OH .00 .00 .00 .000 .250 .300 $276,250.00 N
600083246 LUGO .00 .00 .00 .000 .250 .300 $176,000.00 N
600083247 FLYNN .00 .00 .00 .000 .250 .300 $284,000.00 N
600083248 MASON .00 .00 .00 .000 .250 .300 $118,000.00 N
600083250 HARRIS .00 .00 .00 .000 .250 .300 $189,000.00 N
600083251 SHUMWAY .00 .00 .00 .000 .250 .300 $172,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 115
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083257 STEINWAL 7088 WHOLLILYNN DRIVE BOISE ID 83709 $139,756.59
600083258 ROCKWELL 6375 HIGHWAY NEW PLYMOUTH ID 83655 $56,128.89
600083259 DION 7283 W CASCADE DRIVE BOISE ID 83704 $85,255.30
600083260 FRANCE 194 MOUNTAIN VIEW DRIVE VICTOR MT 59875 $49,908.48
600083262 THOMPSON 403 CRESCENT DRIVE MONTPELIER ID 83254 $49,945.18
600083263 NADEAU 8509 COPPER KNOLL AVENUE LAS VEGAS NV 89129 $149,767.67
600083264 BUTT 2448 EAST WOODCHUCK WAY SANDY UT 84093 $106,909.38
600083265 GUNDERSO 1082 EAST COUNTRY LANE DRAPER UT 84020 $170,203.57
600083266 BLACKBUR 3407 FAIROAKS CIRCLE CALDWELL ID 83605 $91,690.32
600083268 FURNISS 889 BEN LOMAND AVENUE SOUTH OGDEN UT 84403 $170,344.96
600083269 FOURET 1319 ELDER STREET NAMPA ID 83686 $63,636.27
600083270 BLASER 1040 N MAURA AVENUE MERIDIAN ID 83642 $98,827.89
600083271 BAUER 8994 SOUTH SUMMER CREST D SANDY UT 84093 $168,528.49
600083273 MYERS 2225 E STAR LANE MERIDIAN ID 83642 $116,701.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083257 STEINWAL 8.750 .250 8.500 .0500 8.450 08/01/2027
600083258 ROCKWELL 9.125 .250 8.875 .0500 8.825 07/01/2027
600083259 DION 8.875 .250 8.625 .0500 8.575 08/01/2027
600083260 FRANCE 8.500 .250 8.250 .0500 8.200 08/01/2027
600083262 THOMPSON 9.000 .250 8.750 .0500 8.700 09/01/2027
600083263 NADEAU 8.500 .250 8.250 .0500 8.200 09/01/2027
600083264 BUTT 8.000 .250 7.750 .0500 7.700 07/01/2027
600083265 GUNDERSO 8.750 .250 8.500 .0500 8.450 08/01/2027
600083266 BLACKBUR 8.750 .250 8.500 .0500 8.450 08/01/2027
600083268 FURNISS 7.875 .250 7.625 .0500 7.575 08/01/2027
600083269 FOURET 8.625 .250 8.375 .0500 8.325 08/01/2027
600083270 BLASER 8.750 .250 8.500 .0500 8.450 08/01/2027
600083271 BAUER 8.125 .250 7.875 .0500 7.825 09/01/2027
600083273 MYERS 8.875 .250 8.625 .0500 8.575 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083257 STEINWAL 7041440 $1,101.38 11/01/1997 360
600083258 ROCKWELL 7046337 $457.67 11/01/1997 360
600083259 DION 7055440 $679.48 11/01/1997 360
600083260 FRANCE 7056740 $384.46 11/01/1997 360
600083262 THOMPSON 7103629 $402.31 11/01/1997 360
600083263 NADEAU 7106753 $1,152.99 11/01/1997 360
600083264 BUTT 7119188 $786.60 11/01/1997 360
600083265 GUNDERSO 7123488 $1,341.32 11/01/1997 360
600083266 BLACKBUR 7125732 $722.58 11/01/1997 360
600083268 FURNISS 7126788 $1,237.69 11/01/1997 360
600083269 FOURET 7127632 $495.84 11/01/1997 360
600083270 BLASER 7132030 $778.83 2 11/01/1997 360
600083271 BAUER 7137109 $1,252.96 11/01/1997 360
600083273 MYERS 7206931 $930.11 2 11/01/1997 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>
600083257 STEINWAL .00 .00 .00 .000 .250 .300 $215,000.00 N
600083258 ROCKWELL .00 .00 .00 .000 .250 .300 $75,000.00 N
600083259 DION .00 .00 .00 .000 .250 .300 $113,900.00 N
600083260 FRANCE .00 .00 .00 .000 .250 .300 $164,500.00 N
600083262 THOMPSON .00 .00 .00 .000 .250 .300 $76,000.00 N
600083263 NADEAU .00 .00 .00 .000 .250 .300 $187,450.00 N
600083264 BUTT .00 .00 .00 .000 .250 .300 $134,000.00 N
600083265 GUNDERSO .00 .00 .00 .000 .250 .300 $235,000.00 N
600083266 BLACKBUR .00 .00 .00 .000 .250 .300 $122,500.00 N
600083268 FURNISS .00 .00 .00 .000 .250 .300 $222,000.00 N
600083269 FOURET .00 .00 .00 .000 .250 .300 $85,000.00 N
600083270 BLASER .00 .00 .00 .000 .250 .300 $110,000.00 N
600083271 BAUER .00 .00 .00 .000 .250 .300 $225,000.00 N
600083273 MYERS .00 .00 .00 .000 .250 .300 $129,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 116
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600083275 FORSBERG 1549 WEST 2500 SOUTH SYRACUSE UT 84075 $122,551.17
600083276 WATSON 174 E SHADOW BROOK LANE KAYSVILLE UT 84037 $142,217.78
600083277 GUTIERRE 1536 COBB LANE LAS VEGAS NV 89101 $116,756.85
600083278 ELDERS J 638 EAST PHEASANT HAVEN DRAPER UT 84020 $159,683.86
600083279 MENDOZA 8410 ELDORA STREET LAS VEGAS NV 89117 $59,834.54
600083280 STEVENS 545 EAST 300 SOUTH ST GEORGE UT 84770 $88,361.29
600083281 CAVALLAR 435 EAST 4TH AVENUE SALT LAKE CITY UT 84103 $79,798.66
600083282 HOFFER 2705 CLOUDSDALE CIRCLE LAS VEGAS NV 89117 $161,703.48
600083283 WEBSTER 7936 DECKER CANYON DRIVE LAS VEGAS NV 89128 $53,107.52
600083285 HAYNES 5374 PALISADES QUAD AVENU LAS VEGAS NV 89122 $81,406.10
600083286 WATKINS 970 NELLIE JO DRIVE LAS VEGAS NV 89123 $124,063.81
600083287 SMITH 124 EAST CLEVELAND AVENU SALT LAKE CITY UT 84115 $82,643.59
600083288 SMITH 252 WEST 1200 NORTH BOUNTIFUL UT 84010 $87,561.08
600083291 KUSHNIRSKIY YURIY 1210 DEER RUN COURT UPPER SOUTH PA 18966 $208,311.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600083275 FORSBERG 8.000 .250 7.750 .0500 7.700 08/01/2027
600083276 WATSON 8.250 .250 8.000 .0500 7.950 09/01/2027
600083277 GUTIERRE 7.875 .250 7.625 .0500 7.575 08/01/2027
600083278 ELDERS J 8.125 .250 7.875 .0500 7.825 08/01/2027
600083279 MENDOZA 8.250 .250 8.000 .0500 7.950 08/01/2027
600083280 STEVENS 9.250 .250 9.000 .0500 8.950 08/01/2027
600083281 CAVALLAR 8.000 .250 7.750 .0500 7.700 08/01/2027
600083282 HOFFER 8.500 .250 8.250 .0500 8.200 08/01/2027
600083283 WEBSTER 8.750 .250 8.500 .0500 8.450 08/01/2027
600083285 HAYNES 8.375 .250 8.125 .0500 8.075 08/01/2027
600083286 WATKINS 9.000 .250 8.750 .0500 8.700 09/01/2027
600083287 SMITH 9.750 .250 9.500 .0500 9.450 07/01/2027
600083288 SMITH 9.125 .250 8.875 .0500 8.825 07/01/2027
600083291 KUSHNIRSKIY YURIY 7.875 .250 7.625 .0400 7.585 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600083275 FORSBERG 7226211 $901.06 11/01/1997 360
600083276 WATSON 7268813 $1,069.80 11/01/1997 360
600083277 GUTIERRE 7357320 $848.33 12 11/01/1997 360
600083278 ELDERS J 7385113 $1,188.00 11/01/1997 360
600083279 MENDOZA 7400420 $450.38 11/01/1997 360
600083280 STEVENS 7400520 $728.07 11/01/1997 360
600083281 CAVALLAR 7401610 $587.01 11/01/1997 360
600083282 HOFFER 7407520 $1,245.64 11/01/1997 360
600083283 WEBSTER 7414620 $418.52 11/01/1997 360
600083285 HAYNES 7425920 $620.22 11/01/1997 360
600083286 WATKINS 7438020 $999.34 2 11/01/1997 360
600083287 SMITH 7813419 $711.38 2 11/01/1997 360
600083288 SMITH 7849519 $713.96 7 11/01/1997 360
600083291 KUSHNIRSKIY YURIY 21728658 $1,512.50 33 11/01/1997 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>
600083275 FORSBERG .00 .00 .00 .000 .250 .300 $153,575.00 N
600083276 WATSON .00 .00 .00 .000 .250 .300 $178,000.00 N
600083277 GUTIERRE .00 .00 .00 .000 .250 .300 $130,000.00 N
600083278 ELDERS J .00 .00 .00 .000 .250 .300 $350,000.00 N
600083279 MENDOZA .00 .00 .00 .000 .250 .300 $74,950.00 N
600083280 STEVENS .00 .00 .00 .000 .250 .300 $118,000.00 N
600083281 CAVALLAR .00 .00 .00 .000 .250 .300 $162,500.00 N
600083282 HOFFER .00 .00 .00 .000 .250 .300 $202,500.00 N
600083283 WEBSTER .00 .00 .00 .000 .250 .300 $66,500.00 N
600083285 HAYNES .00 .00 .00 .000 .250 .300 $102,000.00 N
600083286 WATKINS .00 .00 .00 .000 .250 .300 $138,000.00 N
600083287 SMITH .00 .00 .00 .000 .250 .300 $92,000.00 N
600083288 SMITH .00 .00 .00 .000 .250 .300 $111,000.00 N
600083291 KUSHNIRSKIY YURIY .00 .00 .00 .000 .250 .290 $231,800.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 117
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600084798 Appel,Donna G 1405 S 4th Street Marshalltown IA 50158 $75,150.11
600084819 Glass,Stuart D 305 Halls Creek Drive Mattituck NY 11952 $210,782.29
600084866 O'Camb,James 4900 Kenworth Drive Rescue CA 95672 $204,896.12
600084868 Greene,Robert J Deer Ridge Road Clinton NY 12580 $202,588.29
600084883 O Connor,Laura Jones 230 Second Street Healdsburg CA 95448 $202,491.56
600084884 Silver,Mark 2551 Jardin Manor Fort Lauderdale FL 33327 $199,510.17
600084908 Guttman,Darren 800 Catherine Street Key West FL 33040 $169,277.69
600084921 Chand,Nilesh 4329 Blondwood Court Union City CA 94587 $200,244.91
600084928 Tanabe,Makoto 3704 Cambord Court San Jose CA 95127 $202,360.23
600084966 Grassi,Thomas 2807 Patterson Avenue Key West FL 33040 $171,970.13
600085039 Wong,Rebeca N. 74-12 45th Street Elmhurst NY 11373 $209,430.69
600085042 Bay,Generoso 1626 Big Bend Drive Milpitas CA 95035 $209,045.99
600085049 Thompson, Jr.,Allen 750 Sabeta Drive Ridgway CO 81432 $210,873.11
600085074 Lowenthal,David 33833 Railfence Road Alta CA 95701 $129,693.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600084798 Appel,Donna G 7.375 .250 7.125 .0400 7.085 02/01/2026
600084819 Glass,Stuart D 8.000 .250 7.750 .0400 7.710 01/01/2027
600084866 O'Camb,James 8.125 .250 7.875 .0400 7.835 03/01/2027
600084868 Greene,Robert J 9.500 .250 9.250 .0400 9.210 05/01/2027
600084883 O Connor,Laura Jones 7.875 .250 7.625 .0400 7.585 06/01/2027
600084884 Silver,Mark 8.500 .250 8.250 .0400 8.210 07/01/2027
600084908 Guttman,Darren 7.625 .250 7.375 .0400 7.335 06/01/2027
600084921 Chand,Nilesh 8.875 .250 8.625 .0400 8.585 07/01/2027
600084928 Tanabe,Makoto 8.375 .250 8.125 .0400 8.085 06/01/2027
600084966 Grassi,Thomas 7.375 .250 7.125 .0400 7.085 07/01/2027
600085039 Wong,Rebeca N. 8.000 .250 7.750 .0400 7.710 07/01/2027
600085042 Bay,Generoso 8.125 .250 7.875 .0400 7.835 07/01/2027
600085049 Thompson, Jr.,Allen 8.625 .250 8.375 .0400 8.335 08/01/2027
600085074 Lowenthal,David 7.250 .250 7.000 .0400 6.960 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600084798 Appel,Donna G 196888 $528.03 12 11/01/1997 360
600084819 Glass,Stuart D 220482 $1,557.42 11/01/1997 360
600084866 O'Camb,James 231829 $1,529.54 1 11/01/1997 360
600084868 Greene,Robert J 232310 $1,708.62 11/01/1997 360
600084883 O Connor,Laura Jones 238554 $1,473.34 11/01/1997 360
600084884 Silver,Mark 239196 $1,537.83 11/01/1997 360
600084908 Guttman,Darren 243712 $1,203.25 11/01/1997 360
600084921 Chand,Nilesh 245436 $1,596.86 1 11/01/1997 360
600084928 Tanabe,Makoto 245957 $1,542.95 11/01/1997 360
600084966 Grassi,Thomas 248120 $1,191.41 11/01/1997 360
600085039 Wong,Rebeca N. 251283 $1,540.91 11/01/1997 360
600085042 Bay,Generoso 251403 $1,556.27 11/01/1997 360
600085049 Thompson, Jr.,Allen 251860 $1,643.09 11/01/1997 360
600085074 Lowenthal,David 253403 $886.83 11/01/1997 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>
600084798 Appel,Donna G .00 .00 .00 .000 .250 .290 $82,000.00 N
600084819 Glass,Stuart D .00 .00 .00 .000 .250 .290 $270,000.00 N
600084866 O'Camb,James .00 .00 .00 .000 .250 .290 $250,000.00 N
600084868 Greene,Robert J .00 .00 .00 .000 .250 .290 $254,000.00 N
600084883 O Connor,Laura Jones .00 .00 .00 .000 .250 .290 $254,000.00 N
600084884 Silver,Mark .00 .00 .00 .000 .250 .290 $327,592.00 N
600084908 Guttman,Darren .00 .00 .00 .000 .250 .290 $278,000.00 N
600084921 Chand,Nilesh .00 .00 .00 .000 .250 .290 $223,000.00 N
600084928 Tanabe,Makoto .00 .00 .00 .000 .250 .290 $253,760.00 N
600084966 Grassi,Thomas .00 .00 .00 .000 .250 .290 $225,000.00 N
600085039 Wong,Rebeca N. .00 .00 .00 .000 .250 .290 $280,000.00 N
600085042 Bay,Generoso .00 .00 .00 .000 .250 .290 $262,000.00 N
600085049 Thompson, Jr.,Allen .00 .00 .00 .000 .250 .290 $290,000.00 N
600085074 Lowenthal,David .00 .00 .00 .000 .250 .290 $165,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 118
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600085097 Ogbogu,Samuel 437 W Scenic Drive Monrovia CA 91016 $211,548.23
600085128 Anderson,Lenard B. 3213 South 2750 East St George UT 84790 $127,708.18
600085150 Tung,Su Wan 555 University Avenue #21 Honolulu HI 96826 $199,769.02
600085163 Sandoval,Sebastian 701 Huntington Place San Ramon CA 94583 $199,534.67
600085169 Rhodes,Brian J 8002 Windswept Houston TX 77063 $129,708.75
600085170 Hoeker,Charles 1617 Bahama Drive Key West FL 33040 $201,600.91
600085188 Sample,Kathleen I. 1020 E. Third Avenue Broomfield CO 80020 $159,761.76
600085640 TONNING ANDREW A. 210 3RD AV SEATTLE WA 98104 $158,769.11
600085641 HOLMES TED R. 1348 NORTH CHEHALIS WA 98532 $128,473.81
600085642 HOLSOME KEVIN G 16994 KAWAI COU FOUNTAIN VALLEY CA 92708 $179,763.72
600085644 DUHN THORE 2621 SWEET CLOV MINDEN NV 89423 $114,924.78
600085646 BRANDGARD DEBRA 4208 WALLING FO AUSTIN TX 78727 $109,189.81
600085649 PETTYJOHN DALE 10300 GLENBROOK GRASS VALLEY CA 95945 $106,848.45
600085656 MISKEN JAMES 11046 WEST 77TH ARVADA CO 80005 $207,726.96
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600085097 Ogbogu,Samuel 7.750 .250 7.500 .0400 7.460 08/01/2027
600085128 Anderson,Lenard B. 7.500 .250 7.250 .0400 7.210 08/01/2027
600085150 Tung,Su Wan 8.750 .250 8.500 .0400 8.460 09/01/2027
600085163 Sandoval,Sebastian 8.750 .250 8.500 .0400 8.460 07/01/2027
600085169 Rhodes,Brian J 7.500 .250 7.250 .0400 7.210 08/01/2027
600085170 Hoeker,Charles 8.125 .250 7.875 .0400 7.835 08/01/2027
600085188 Sample,Kathleen I. 7.500 .250 7.250 .0400 7.210 09/01/2027
600085640 TONNING ANDREW A. 7.625 .250 7.375 .0500 7.325 09/01/2027
600085641 HOLMES TED R. 7.750 .250 7.500 .0500 7.450 09/01/2027
600085642 HOLSOME KEVIN G 8.125 .250 7.875 .0500 7.825 09/01/2027
600085644 DUHN THORE 8.125 .250 7.875 .0500 7.825 10/01/2027
600085646 BRANDGARD DEBRA 7.750 .250 7.500 .0500 7.450 09/01/2027
600085649 PETTYJOHN DALE 8.125 .250 7.875 .0500 7.825 09/01/2027
600085656 MISKEN JAMES 8.125 .250 7.875 .0500 7.825 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600085097 Ogbogu,Samuel 255544 $1,518.79 11/01/1997 360
600085128 Anderson,Lenard B. 257128 $894.99 11/01/1997 360
600085150 Tung,Su Wan 258283 $1,573.40 11/01/1997 360
600085163 Sandoval,Sebastian 258929 $1,573.40 12 11/01/1997 360
600085169 Rhodes,Brian J 259436 $908.98 11/01/1997 360
600085170 Hoeker,Charles 259547 $1,499.84 11/01/1997 360
600085188 Sample,Kathleen I. 260282 $1,118.75 11/01/1997 360
600085640 TONNING ANDREW A. 617472 $1,125.39 11/01/1997 360
600085641 HOLMES TED R. 617639 $922.02 11/01/1997 360
600085642 HOLSOME KEVIN G 1061613 $1,336.49 7 11/01/1997 360
600085644 DUHN THORE 1117746 $853.87 11/01/1997 360
600085646 BRANDGARD DEBRA 1155126 $783.40 11/01/1997 360
600085649 PETTYJOHN DALE 1172659 $794.47 11/01/1997 360
600085656 MISKEN JAMES 1177492 $1,544.39 11/01/1997 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>
600085097 Ogbogu,Samuel .00 .00 .00 .000 .250 .290 $265,000.00 N
600085128 Anderson,Lenard B. .00 .00 .00 .000 .250 .290 $242,000.00 N
600085150 Tung,Su Wan .00 .00 .00 .000 .250 .290 $415,000.00 N
600085163 Sandoval,Sebastian .00 .00 .00 .000 .250 .290 $224,000.00 N
600085169 Rhodes,Brian J .00 .00 .00 .000 .250 .290 $162,500.00 N
600085170 Hoeker,Charles .00 .00 .00 .000 .250 .290 $253,500.00 N
600085188 Sample,Kathleen I. .00 .00 .00 .000 .250 .290 $200,000.00 N
600085640 TONNING ANDREW A. .00 .00 .00 .000 .250 .300 $318,000.00 N
600085641 HOLMES TED R. .00 .00 .00 .000 .250 .300 $161,000.00 N
600085642 HOLSOME KEVIN G .00 .00 .00 .000 .250 .300 $200,000.00 N
600085644 DUHN THORE .00 .00 .00 .000 .250 .300 $152,602.00 N
600085646 BRANDGARD DEBRA .00 .00 .00 .000 .250 .300 $136,731.00 N
600085649 PETTYJOHN DALE .00 .00 .00 .000 .250 .300 $150,000.00 N
600085656 MISKEN JAMES .00 .00 .00 .000 .250 .300 $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 119
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600085662 SALINE GERALD 940 SEALANE DRI ENCINITAS CA 92024 $199,244.69
600085667 STRICKLER PATRICIA 4504 TIVOLI STR SAN DIEGO CA 92107 $49,918.17
600085669 BENAVENTE RONALD 171 BROWNS VALL WATSONVILLE CA 95076 $164,777.84
600085670 MIZRAHI YEHUDA 21730 MARY LEE WOODLAND HILLS CA 91367 $157,496.90
600085675 DICRESCIO DOMINIC 1620 DEBRA PLAC RIO RANCHO NM 87124 $53,183.56
600085676 SPARKS ROBERT 1860 TICE CREEK WALNUT CREEK CA 94595 $149,009.07
600085677 KIRK NICOLLE 7193 OLDE STAGE BOULDER CO 80302 $188,419.01
600085679 JOHNSON CLIFFORD 5267 OLD NORCRO NORCROSS GA 30071 $103,870.25
600085680 TRUONG DU 2399 SOUTH PERR DENVER CO 80219 $89,887.72
600085684 LE TRUONG 9715 WESTBURY W HIGHLANDS RANCH CO 80126 $165,770.77
600085686 GROSSEN VICTOR 2864 BIDDLEFORD SAN RAMON CA 94583 $175,774.77
600085687 POULSEN LASSE 8 DOVE STREET ALISO VIEJO CA 92656 $168,746.90
600085688 VINCENT KEVIN 612 AVENIDA DE THOUSAND OAKS CA 91320 $46,439.83
600085689 GRINNAN VIRGINIA 13272 KIBBINGS SAN DIEGO CA 92130 $115,352.20
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600085662 SALINE GERALD 8.250 .250 8.000 .0500 7.950 09/01/2027
600085667 STRICKLER PATRICIA 8.375 .250 8.125 .0500 8.075 09/01/2027
600085669 BENAVENTE RONALD 8.000 .250 7.750 .0500 7.700 09/01/2027
600085670 MIZRAHI YEHUDA 8.125 .250 7.875 .0500 7.825 10/01/2027
600085675 DICRESCIO DOMINIC 8.375 .250 8.125 .0500 8.075 09/01/2027
600085676 SPARKS ROBERT 8.250 .250 8.000 .0500 7.950 09/01/2027
600085677 KIRK NICOLLE 8.000 .250 7.750 .0500 7.700 09/01/2027
600085679 JOHNSON CLIFFORD 8.375 .250 8.125 .0500 8.075 09/01/2027
600085680 TRUONG DU 8.375 .250 8.125 .0500 8.075 09/01/2027
600085684 LE TRUONG 7.875 .250 7.625 .0500 7.575 09/01/2027
600085686 GROSSEN VICTOR 8.250 .250 8.000 .0500 7.950 09/01/2027
600085687 POULSEN LASSE 7.625 .250 7.375 .0500 7.325 09/01/2027
600085688 VINCENT KEVIN 8.250 .250 8.000 .0500 7.950 09/01/2027
600085689 GRINNAN VIRGINIA 8.250 .250 8.000 .0500 7.950 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600085662 SALINE GERALD 1182781 $1,498.78 11/01/1997 360
600085667 STRICKLER PATRICIA 1183664 $380.04 11/01/1997 360
600085669 BENAVENTE RONALD 1184951 $1,210.71 11/01/1997 360
600085670 MIZRAHI YEHUDA 1185370 $1,170.18 11/01/1997 360
600085675 DICRESCIO DOMINIC 1187772 $404.74 11/01/1997 360
600085676 SPARKS ROBERT 1188390 $1,120.89 11/01/1997 360
600085677 KIRK NICOLLE 1188671 $1,386.82 11/01/1997 360
600085679 JOHNSON CLIFFORD 1188846 $790.48 11/01/1997 360
600085680 TRUONG DU 1189141 $684.07 11/01/1997 360
600085684 LE TRUONG 1189638 $1,203.62 11/01/1997 360
600085686 GROSSEN VICTOR 1190727 $1,322.23 11/01/1997 360
600085687 POULSEN LASSE 1191048 $1,196.17 11/01/1997 360
600085688 VINCENT KEVIN 1191113 $349.34 11/01/1997 360
600085689 GRINNAN VIRGINIA 1191881 $867.71 11/01/1997 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>
600085662 SALINE GERALD .00 .00 .00 .000 .250 .300 $285,000.00 N
600085667 STRICKLER PATRICIA .00 .00 .00 .000 .250 .300 $268,000.00 N
600085669 BENAVENTE RONALD .00 .00 .00 .000 .250 .300 $220,000.00 N
600085670 MIZRAHI YEHUDA .00 .00 .00 .000 .250 .300 $197,000.00 N
600085675 DICRESCIO DOMINIC .00 .00 .00 .000 .250 .300 $71,000.00 N
600085676 SPARKS ROBERT .00 .00 .00 .000 .250 .300 $186,500.00 N
600085677 KIRK NICOLLE .00 .00 .00 .000 .250 .300 $270,000.00 N
600085679 JOHNSON CLIFFORD .00 .00 .00 .000 .250 .300 $130,000.00 N
600085680 TRUONG DU .00 .00 .00 .000 .250 .300 $130,000.00 N
600085684 LE TRUONG .00 .00 .00 .000 .250 .300 $207,600.00 N
600085686 GROSSEN VICTOR .00 .00 .00 .000 .250 .300 $240,000.00 N
600085687 POULSEN LASSE .00 .00 .00 .000 .250 .300 $359,000.00 N
600085688 VINCENT KEVIN .00 .00 .00 .000 .250 .300 $62,000.00 N
600085689 GRINNAN VIRGINIA .00 .00 .00 .000 .250 .300 $165,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 120
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600085690 COTE KRISTIN 13574 JADESTONE SAN DIEGO CA 92130 $167,785.00
600085691 KOPP LAVERNE 12403 BUTTERCUP RANCHO CUCAMONG CA 91739 $67,309.24
600085693 MOORE DORIS 9747 SOUTH DAME CHICAGO IL 60643 $84,444.73
600085694 HARRIS RITA 743 N. ORANGE D LOS ANGELES CA 90038 $149,611.49
600085695 KRAUSE BLAIR 2310 BROOKWATER ALPHARETTA GA 30202 $140,755.35
600085696 CHRISTAL DAVID 9252 EAGLE RIDG LAS VEGAS NV 89134 $199,744.06
600085698 SANDERS MICHAEL 9721 BECK DRIVE PLANO TX 75025 $184,395.02
600085699 HENDI MANOOCHEHR 1001 WEST OAKDA IRVING TX 75060 $78,297.08
600085700 DESMOND ROY 1491 BOULDER BL ALGONQUIN IL 60102 $139,631.29
600085702 AKINS MARK 220 C.R. 232 DURANGO CO 81301 $101,869.47
600085704 PIERCY DAVID 4715 HAMPTON SQ ALPHARETTA GA 30202 $97,278.50
600085706 DOSHI RITA 2190 CAMINO LAR CHINO HILLS CA 91709 $183,770.48
600085707 RILEY DIANNE 17030 EAST NICK FOUNTAIN HILLS AZ 85268 $74,947.07
600085708 NGUYEN HAI 1043 MAZATLAN C COLORADO SPRING CO 80910 $112,359.67
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600085690 COTE KRISTIN 8.250 .250 8.000 .0500 7.950 09/01/2027
600085691 KOPP LAVERNE 8.000 .250 7.750 .0500 7.700 09/01/2027
600085693 MOORE DORIS 8.125 .250 7.875 .0500 7.825 10/01/2027
600085694 HARRIS RITA 8.375 .250 8.125 .0500 8.075 09/01/2027
600085695 KRAUSE BLAIR 7.875 .250 7.625 .0500 7.575 09/01/2027
600085696 CHRISTAL DAVID 8.250 .250 8.000 .0500 7.950 09/01/2027
600085698 SANDERS MICHAEL 7.875 .250 7.625 .0500 7.575 09/01/2027
600085699 HENDI MANOOCHEHR 8.125 .250 7.875 .0500 7.825 09/01/2027
600085700 DESMOND ROY 8.375 .250 8.125 .0500 8.075 09/01/2027
600085702 AKINS MARK 8.250 .250 8.000 .0500 7.950 09/01/2027
600085704 PIERCY DAVID 8.375 .250 8.125 .0500 8.075 09/01/2027
600085706 DOSHI RITA 8.375 .250 8.125 .0500 8.075 09/01/2027
600085707 RILEY DIANNE 7.750 .250 7.500 .0500 7.450 10/01/2027
600085708 NGUYEN HAI 8.375 .250 8.125 .0500 8.075 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600085690 COTE KRISTIN 1191907 $1,262.13 11/01/1997 360
600085691 KOPP LAVERNE 1192376 $494.56 11/01/1997 360
600085693 MOORE DORIS 1192541 $627.41 11/01/1997 360
600085694 HARRIS RITA 1192681 $1,140.11 11/01/1997 360
600085695 KRAUSE BLAIR 1192699 $1,021.99 11/01/1997 360
600085696 CHRISTAL DAVID 1193028 $1,502.53 11/01/1997 360
600085698 SANDERS MICHAEL 1194356 $1,338.84 11/01/1997 360
600085699 HENDI MANOOCHEHR 1195320 $582.12 11/01/1997 360
600085700 DESMOND ROY 1195387 $1,064.10 11/01/1997 360
600085702 AKINS MARK 1195536 $766.29 11/01/1997 360
600085704 PIERCY DAVID 1196104 $740.31 11/01/1997 360
600085706 DOSHI RITA 1198035 $1,398.53 11/01/1997 360
600085707 RILEY DIANNE 1198043 $537.31 11/01/1997 360
600085708 NGUYEN HAI 1198472 $855.08 11/01/1997 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>
600085690 COTE KRISTIN .00 .00 .00 .000 .250 .300 $210,000.00 N
600085691 KOPP LAVERNE .00 .00 .00 .000 .250 .300 $123,000.00 N
600085693 MOORE DORIS .00 .00 .00 .000 .250 .300 $130,000.00 N
600085694 HARRIS RITA .00 .00 .00 .000 .250 .300 $290,000.00 N
600085695 KRAUSE BLAIR .00 .00 .00 .000 .250 .300 $176,240.00 N
600085696 CHRISTAL DAVID .00 .00 .00 .000 .250 .300 $250,000.00 N
600085698 SANDERS MICHAEL .00 .00 .00 .000 .250 .300 $246,257.00 N
600085699 HENDI MANOOCHEHR .00 .00 .00 .000 .250 .300 $112,000.00 N
600085700 DESMOND ROY .00 .00 .00 .000 .250 .300 $288,920.00 N
600085702 AKINS MARK .00 .00 .00 .000 .250 .300 $165,000.00 N
600085704 PIERCY DAVID .00 .00 .00 .000 .250 .300 $129,900.00 N
600085706 DOSHI RITA .00 .00 .00 .000 .250 .300 $230,000.00 N
600085707 RILEY DIANNE .00 .00 .00 .000 .250 .300 $190,000.00 N
600085708 NGUYEN HAI .00 .00 .00 .000 .250 .300 $150,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 121
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600085710 DEAN RORY 158 WEST BROADW ELIZABETH CO 80107 $84,868.57
600085711 LANGLEY STEVE 4126 N. HICKORY DOUGLASVILLE GA 30134 $109,859.24
600085713 READ GORDON 6029 SOUTH KENT ENGLEWOOD CO 80111 $167,790.43
600085714 JONES AMY 8409 CATSKILL C PLANO TX 75025 $120,737.22
600085717 MORECI PETER 369 UMBRIA WAY HENDERSON NV 89014 $61,959.44
600085718 TARZIER MONICA 3380 SEQUOIA DR SAN LUIS OBISPO CA 93401 $139,811.50
600085719 PEZESHKI REZA 17508 CALIFA ST ENCINO CA 91316 $148,799.38
600085720 DIRKSEN SUE 221 BAY STREET SANTA CRUZ CA 95060 $129,820.49
600085721 LETICA RADE 1012 WEST TALCO PARK RIDGE IL 60068 $119,854.09
600085722 BOBO JOHN 3681 HOWELL WOO DULUTH GA 30136 $185,767.99
600085723 HOY TIMOTHY 10285 VISTA DE LA MESA CA 91941 $199,650.65
600085725 CRAWFORD JAMES 2624 NORTH TOWN SANTA ANA CA 92706 $148,205.18
600085726 SCHALLER JODI 428 INGLESIDE D BOLINGBROOK IL 60440 $103,271.03
600085727 KILE REX 9616 MILL HOLLO DALLAS TX 75243 $123,050.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600085710 DEAN RORY 8.250 .250 8.000 .0500 7.950 09/01/2027
600085711 LANGLEY STEVE 8.250 .250 8.000 .0500 7.950 09/01/2027
600085713 READ GORDON 8.375 .250 8.125 .0500 8.075 09/01/2027
600085714 JONES AMY 8.000 .250 7.750 .0500 7.700 09/01/2027
600085717 MORECI PETER 8.125 .250 7.875 .0500 7.825 10/01/2027
600085718 TARZIER MONICA 8.000 .250 7.750 .0500 7.700 09/01/2027
600085719 PEZESHKI REZA 8.000 .250 7.750 .0500 7.700 09/01/2027
600085720 DIRKSEN SUE 7.875 .250 7.625 .0500 7.575 09/01/2027
600085721 LETICA RADE 8.500 .250 8.250 .0500 8.200 09/01/2027
600085722 BOBO JOHN 8.375 .250 8.125 .0500 8.075 09/01/2027
600085723 HOY TIMOTHY 8.375 .250 8.125 .0500 8.075 09/01/2027
600085725 CRAWFORD JAMES 8.125 .250 7.875 .0500 7.825 09/01/2027
600085726 SCHALLER JODI 8.375 .250 8.125 .0500 8.075 09/01/2027
600085727 KILE REX 8.500 .250 8.250 .0500 8.200 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600085710 DEAN RORY 1198597 $638.58 11/01/1997 360
600085711 LANGLEY STEVE 1198860 $826.39 11/01/1997 360
600085713 READ GORDON 1198928 $1,276.92 11/01/1997 360
600085714 JONES AMY 1199322 $887.12 11/01/1997 360
600085717 MORECI PETER 1201151 $460.35 11/01/1997 360
600085718 TARZIER MONICA 1201243 $1,027.27 11/01/1997 360
600085719 PEZESHKI REZA 1201441 $1,093.31 11/01/1997 360
600085720 DIRKSEN SUE 1201821 $942.59 11/01/1997 360
600085721 LETICA RADE 1202258 $922.70 11/01/1997 360
600085722 BOBO JOHN 1202274 $1,413.73 11/01/1997 360
600085723 HOY TIMOTHY 1202928 $1,519.38 11/01/1997 360
600085725 CRAWFORD JAMES 1204122 $1,101.87 11/01/1997 360
600085726 SCHALLER JODI 1204403 $785.91 11/01/1997 360
600085727 KILE REX 1205467 $947.30 11/01/1997 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>
600085710 DEAN RORY .00 .00 .00 .000 .250 .300 $122,000.00 N
600085711 LANGLEY STEVE .00 .00 .00 .000 .250 .300 $195,000.00 N
600085713 READ GORDON .00 .00 .00 .000 .250 .300 $210,000.00 N
600085714 JONES AMY .00 .00 .00 .000 .250 .300 $151,183.00 N
600085717 MORECI PETER .00 .00 .00 .000 .250 .300 $132,500.00 N
600085718 TARZIER MONICA .00 .00 .00 .000 .250 .300 $280,000.00 N
600085719 PEZESHKI REZA .00 .00 .00 .000 .250 .300 $192,000.00 N
600085720 DIRKSEN SUE .00 .00 .00 .000 .250 .300 $283,000.00 N
600085721 LETICA RADE .00 .00 .00 .000 .250 .300 $150,000.00 N
600085722 BOBO JOHN .00 .00 .00 .000 .250 .300 $248,000.00 N
600085723 HOY TIMOTHY .00 .00 .00 .000 .250 .300 $249,900.00 N
600085725 CRAWFORD JAMES .00 .00 .00 .000 .250 .300 $185,500.00 N
600085726 SCHALLER JODI .00 .00 .00 .000 .250 .300 $137,900.00 N
600085727 KILE REX .00 .00 .00 .000 .250 .300 $176,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 122
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600085728 FOWLERIII SAMUEL 6234 LULLWATER DOUGLASVILLE GA 30135 $66,317.17
600085729 MESA KENNETH 3871 EAST SAN R GILBERT AZ 85234 $89,944.06
600085730 LEVY JEANNETTE 7349 EAST GALLE SCOTTSDALE AZ 85255 $99,934.58
600085737 DESGRANGES, GERARD 14 HORATIO STREET 1 NEW YORK NY 10014 $89,887.72
600085741 HARROLD, BRIAN W 147A E MOUNTAIN RD S COLD SPRING NY 10516 $187,740.37
600085742 GROSS, STEPHEN 2335 E 70TH ST BROOKLYN NY 11234 $99,875.24
600085743 GIUSTINO, VICTOR 1034 166TH ST WHITESTONE NY 11357 $26,966.32
600085749 MAQUEDA, MARIBERT D 1243 N BALBOA DRIVE GILBERT AZ 85234 $156,041.10
600085750 AGOSTINO, RAY 7582 N VIA DE LA SIES SCOTTSDALE AZ 85258 $145,581.94
600085760 WALLACE, JR RICHARD 1230 16TH CT SW LARGO FL 33770 $91,808.82
600085765 WOODS, ROGER 2794 EAST HOQUIAM ROA HOQUIAM WA 98550 $89,014.64
600085766 INZERILLA, TINA E 207 CHESTNUT COURT SAN RAMON CA 94583 $207,219.81
600085775 PROTO, RICHARD F 134A SACKETT POINT RO NORTH HAVEN CT 6473 $92,500.00
600085784 BLESY, II MICHAEL 17795 SOUTHEAST HIGHWA UMATILLA FL 32784 $75,857.32
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600085728 FOWLERIII SAMUEL 8.375 .250 8.125 .0500 8.075 09/01/2027
600085729 MESA KENNETH 8.375 .250 8.125 .0500 8.075 10/01/2027
600085730 LEVY JEANNETTE 8.125 .250 7.875 .0500 7.825 10/01/2027
600085737 DESGRANGES, GERARD 8.375 .250 8.125 .0400 8.085 09/01/2027
600085741 HARROLD, BRIAN W 7.875 .250 7.625 .0400 7.585 09/01/2027
600085742 GROSS, STEPHEN 8.375 .250 8.125 .0400 8.085 09/01/2027
600085743 GIUSTINO, VICTOR 8.375 .250 8.125 .0400 8.085 09/01/2027
600085749 MAQUEDA, MARIBERT D 8.125 .250 7.875 .0400 7.835 08/01/2027
600085750 AGOSTINO, RAY 7.875 .250 7.625 .0400 7.585 09/01/2027
600085760 WALLACE, JR RICHARD 7.875 .250 7.625 .0400 7.585 08/01/2027
600085765 WOODS, ROGER 7.875 .250 7.625 .0400 7.585 08/01/2027
600085766 INZERILLA, TINA E 7.875 .250 7.625 .0400 7.585 07/01/2027
600085775 PROTO, RICHARD F 8.250 .250 8.000 .0400 7.960 06/01/2027
600085784 BLESY, II MICHAEL 8.375 .250 8.125 .0400 8.085 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600085728 FOWLERIII SAMUEL 1205525 $504.69 11/01/1997 360
600085729 MESA KENNETH 1206317 $684.07 11/01/1997 360
600085730 LEVY JEANNETTE 1236744 $742.50 11/01/1997 360
600085737 DESGRANGES, GERARD 1111110912 $684.07 11/01/1997 360
600085741 HARROLD, BRIAN W 1111117558 $1,363.14 11/01/1997 360
600085742 GROSS, STEPHEN 1111120440 $760.08 11/01/1997 360
600085743 GIUSTINO, VICTOR 1111122580 $205.22 11/01/1997 360
600085749 MAQUEDA, MARIBERT D 1204001114 $1,160.89 11/01/1997 360
600085750 AGOSTINO, RAY 1204006887 $1,061.50 11/01/1997 360
600085760 WALLACE, JR RICHARD 1381085314 $667.06 11/01/1997 360
600085765 WOODS, ROGER 1474001258 $646.76 11/01/1997 360
600085766 INZERILLA, TINA E 1479001652 $1,508.14 11/01/1997 360
600085775 PROTO, RICHARD F 1500330131 $697.18 11/01/1997 360
600085784 BLESY, II MICHAEL 1500355278 $577.65 11/01/1997 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>
600085728 FOWLERIII SAMUEL .00 .00 .00 .000 .250 .300 $83,000.00 N
600085729 MESA KENNETH .00 .00 .00 .000 .250 .300 $112,500.00 N
600085730 LEVY JEANNETTE .00 .00 .00 .000 .250 .300 $225,000.00 N
600085737 DESGRANGES, GERARD .00 .00 .00 .000 .250 .290 $137,500.00 N
600085741 HARROLD, BRIAN W .00 .00 .00 .000 .250 .290 $253,000.00 N
600085742 GROSS, STEPHEN .00 .00 .00 .000 .250 .290 $225,000.00 N
600085743 GIUSTINO, VICTOR .00 .00 .00 .000 .250 .290 $38,575.00 N
600085749 MAQUEDA, MARIBERT D .00 .00 .00 .000 .250 .290 $195,471.00 N
600085750 AGOSTINO, RAY .00 .00 .00 .000 .250 .290 $183,000.00 N
600085760 WALLACE, JR RICHARD .00 .00 .00 .000 .250 .290 $115,000.00 N
600085765 WOODS, ROGER .00 .00 .00 .000 .250 .290 $111,500.00 N
600085766 INZERILLA, TINA E .00 .00 .00 .000 .250 .290 $260,000.00 N
600085775 PROTO, RICHARD F .00 .00 .00 .000 .250 .290 $116,000.00 N
600085784 BLESY, II MICHAEL .00 .00 .00 .000 .250 .290 $95,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 123
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600085788 PUGLIESE, ANDREW 132 MIDLAND AVENUE GLEN RIDGE NJ 7028 $171,642.55
600085792 JOHNSON, BILLY WAYNE 602 SOUTH STREET HEBER SPRINGS AR 72543 $52,692.10
600085799 MC, GOWAN GUY 2268 CATALINA BLVD SAN DIEGO CA 92107 $194,461.42
600085800 MRAKOVCICH, MICHAEL 762 ST MICHAEL CIRCL PLEASANTON CA 94566 $151,315.33
600085806 POWER, CLAUDE E 4586 N FRESNO ST FRESNO CA 93726 $55,096.35
600085807 WOODS, RICHARD L 9 TAHOE DRIVE RIO VISTA CA 94571 $91,827.23
600085815 BECKNELL, FRANK E 303 WOODBURN CREEK R SPARTANBURG SC 29302 $61,400.83
600085816 KIM, SUN CHO 10010 76TH STREET SOUT TACOMA WA 98498 $123,615.82
600085818 PATTERSON, JAMES D 891 FAIRFIELD DRIVE TEMPERANCE MI 48182 $67,493.06
600085822 PENNOCK, ANNE L 240-A CANTERBURY LANE MEDINA OH 44256 $49,906.10
600085824 MADDOX, KENNETH A 7701 NEAVILS LANE CATLETT VA 20119 $147,707.58
600085829 ALTENBERNT, GERALD J 1923 ROLLING MEADOWS PINCKNEY MI 48169 $104,619.32
600085833 BOYD, WILLIAM LANCE 2540 AMBERBROOK LANE GRAYSON GA 30017 $189,471.81
600085836 HICKSON, HARRY L LOT 184CHERRY LAKE PHAS CHERRY LOG GA 30522 $49,883.30
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600085788 PUGLIESE, ANDREW 7.875 .250 7.625 .0400 7.585 08/01/2027
600085792 JOHNSON, BILLY WAYNE 8.125 .250 7.875 .0400 7.835 08/01/2027
600085799 MC, GOWAN GUY 8.250 .250 8.000 .0400 7.960 07/01/2027
600085800 MRAKOVCICH, MICHAEL 8.375 .250 8.125 .0400 8.085 08/01/2027
600085806 POWER, CLAUDE E 8.375 .250 8.125 .0400 8.085 08/01/2027
600085807 WOODS, RICHARD L 8.375 .250 8.125 .0400 8.085 08/01/2027
600085815 BECKNELL, FRANK E 8.250 .250 8.000 .0400 7.960 06/01/2027
600085816 KIM, SUN CHO 8.375 .250 8.125 .0400 8.085 07/01/2027
600085818 PATTERSON, JAMES D 8.375 .250 8.125 .0400 8.085 07/01/2027
600085822 PENNOCK, ANNE L 8.375 .250 8.125 .0400 8.085 08/01/2027
600085824 MADDOX, KENNETH A 8.125 .250 7.875 .0400 7.835 08/01/2027
600085829 ALTENBERNT, GERALD J 8.375 .250 8.125 .0400 8.085 09/01/2027
600085833 BOYD, WILLIAM LANCE 7.875 .250 7.625 .0400 7.585 07/01/2027
600085836 HICKSON, HARRY L 8.000 .250 7.750 .0400 7.710 07/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600085788 PUGLIESE, ANDREW 1500356918 $1,247.12 11/01/1997 360
600085792 JOHNSON, BILLY WAYNE 1504143657 $392.04 11/01/1997 360
600085799 MC, GOWAN GUY 1506284026 $1,464.97 11/01/1997 360
600085800 MRAKOVCICH, MICHAEL 1506284059 $1,152.27 11/01/1997 360
600085806 POWER, CLAUDE E 1506292603 $419.56 11/01/1997 360
600085807 WOODS, RICHARD L 1506295248 $699.27 11/01/1997 360
600085815 BECKNELL, FRANK E 1507264680 $462.79 11/01/1997 360
600085816 KIM, SUN CHO 1507265399 $942.30 11/01/1997 360
600085818 PATTERSON, JAMES D 1507268568 $516.85 11/01/1997 360
600085822 PENNOCK, ANNE L 1507276544 $380.04 11/01/1997 360
600085824 MADDOX, KENNETH A 1507283663 $1,098.90 11/01/1997 360
600085829 ALTENBERNT, GERALD J 1507295232 $796.18 11/01/1997 360
600085833 BOYD, WILLIAM LANCE 1511152206 $1,377.63 11/01/1997 360
600085836 HICKSON, HARRY L 1511157899 $370.55 11/01/1997 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>
600085788 PUGLIESE, ANDREW .00 .00 .00 .000 .250 .290 $216,000.00 N
600085792 JOHNSON, BILLY WAYNE .00 .00 .00 .000 .250 .290 $66,000.00 N
600085799 MC, GOWAN GUY .00 .00 .00 .000 .250 .290 $260,000.00 N
600085800 MRAKOVCICH, MICHAEL .00 .00 .00 .000 .250 .290 $189,500.00 N
600085806 POWER, CLAUDE E .00 .00 .00 .000 .250 .290 $69,000.00 N
600085807 WOODS, RICHARD L .00 .00 .00 .000 .250 .290 $115,000.00 N
600085815 BECKNELL, FRANK E .00 .00 .00 .000 .250 .290 $88,000.00 N
600085816 KIM, SUN CHO .00 .00 .00 .000 .250 .290 $165,300.00 N
600085818 PATTERSON, JAMES D .00 .00 .00 .000 .250 .290 $85,000.00 N
600085822 PENNOCK, ANNE L .00 .00 .00 .000 .250 .290 $64,500.00 N
600085824 MADDOX, KENNETH A .00 .00 .00 .000 .250 .290 $185,000.00 N
600085829 ALTENBERNT, GERALD J .00 .00 .00 .000 .250 .290 $135,000.00 N
600085833 BOYD, WILLIAM LANCE .00 .00 .00 .000 .250 .290 $253,500.00 N
600085836 HICKSON, HARRY L .00 .00 .00 .000 .250 .290 $72,239.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 124
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600085837 GONZALEZ, MARTHA L 12055 SOUTHWEST 19TH L MIAMI FL 33175 $60,635.94
600085852 PHIPPS, BRUCE D 847 NORTHEAST 190TH SHORELINE WA 98155 $135,548.10
600085855 BRAWLEY, DEBORAH E 3975 DEHESA COURT BOULDER CO 80301 $170,896.91
600085862 DIENGDOH, ABSTAR R 322 NORTH 21ST AVENU GREELEY CO 80631 $73,861.03
600085877 VASQUEZ, GUILLERMO 511 DAWNRIDGE DRIVE SAN ANTONIO TX 78213 $75,314.65
600085878 HOERSCH, EDWARD V 5736 EVENING WAY SANTA ROSA CA 95409 $44,207.11
600085908 LEE, FONG TOE 249 ESTHER COURT HAYWARD CA 94544 $119,850.30
600085927 MERCADO, ANGIE R 2903 POSTWOOD DRIVE SAN JOSE CA 95132 $84,893.95
600085936 MEGARD, TIM 608 CROWN COLONY DRI LUFKIN TX 75901 $95,819.73
600085938 TURNER, DEANNA D 21380 HEIDI DRIVE EDMOND OK 73003 $116,104.97
600085941 MERWIN, WALTER LEE 4907 SOUTH SPOTTED RO SPOKANE WA 99219 $98,277.23
600085952 NEAL, MICHAEL L 2901 HEMINGFORD LANE OKLAHOMA CITY OK 73120 $86,219.39
600085961 TIMM, JAMES E 24490 AVENIDA ARCONTE MURRIETA CA 92562 $141,822.85
600085966 PUIG, GEORGE A 1675 GILA CIRCLE ANGEL FIRE NM 87710 $109,862.78
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600085837 GONZALEZ, MARTHA L 8.375 .250 8.125 .0400 8.085 08/01/2027
600085852 PHIPPS, BRUCE D 8.125 .250 7.875 .0400 7.835 06/01/2027
600085855 BRAWLEY, DEBORAH E 8.125 .250 7.875 .0400 7.835 07/01/2027
600085862 DIENGDOH, ABSTAR R 8.375 .250 8.125 .0400 8.085 08/01/2027
600085877 VASQUEZ, GUILLERMO 8.000 .250 7.750 .0400 7.710 06/01/2027
600085878 HOERSCH, EDWARD V 7.875 .250 7.625 .0400 7.585 07/01/2017
600085908 LEE, FONG TOE 8.375 .250 8.125 .0400 8.085 09/01/2027
600085927 MERCADO, ANGIE R 8.375 .250 8.125 .0400 8.085 09/01/2027
600085936 MEGARD, TIM 8.375 .250 8.125 .0400 8.085 08/01/2027
600085938 TURNER, DEANNA D 8.375 .250 8.125 .0400 8.085 09/01/2027
600085941 MERWIN, WALTER LEE 8.375 .250 8.125 .0400 8.085 09/01/2027
600085952 NEAL, MICHAEL L 7.875 .250 7.625 .0400 7.585 09/01/2027
600085961 TIMM, JAMES E 8.375 .250 8.125 .0400 8.085 09/01/2027
600085966 PUIG, GEORGE A 8.375 .250 8.125 .0400 8.085 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600085837 GONZALEZ, MARTHA L 1511159759 $461.74 11/01/1997 360
600085852 PHIPPS, BRUCE D 1513139399 $1,009.80 11/01/1997 360
600085855 BRAWLEY, DEBORAH E 1513156784 $1,272.27 11/01/1997 360
600085862 DIENGDOH, ABSTAR R 1513165967 $562.46 11/01/1997 360
600085877 VASQUEZ, GUILLERMO 1526005704 $554.73 3 11/01/1997 360
600085878 HOERSCH, EDWARD V 1526006547 $372.90 11/01/1997 240
600085908 LEE, FONG TOE 1561363407 $912.09 11/01/1997 360
600085927 MERCADO, ANGIE R 1561365297 $646.07 11/01/1997 360
600085936 MEGARD, TIM 1563164718 $729.67 11/01/1997 360
600085938 TURNER, DEANNA D 1563165095 $883.59 11/01/1997 360
600085941 MERWIN, WALTER LEE 1565159468 $747.92 11/01/1997 360
600085952 NEAL, MICHAEL L 1566105635 $638.07 11/01/1997 360
600085961 TIMM, JAMES E 1567199270 $1,079.31 11/01/1997 360
600085966 PUIG, GEORGE A 1569160968 $836.08 11/01/1997 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>
600085837 GONZALEZ, MARTHA L .00 .00 .00 .000 .250 .290 $81,000.00 N
600085852 PHIPPS, BRUCE D .00 .00 .00 .000 .250 .290 $170,000.00 N
600085855 BRAWLEY, DEBORAH E .00 .00 .00 .000 .250 .290 $228,500.00 N
600085862 DIENGDOH, ABSTAR R .00 .00 .00 .000 .250 .290 $161,000.00 N
600085877 VASQUEZ, GUILLERMO .00 .00 .00 .000 .250 .290 $84,000.00 N
600085878 HOERSCH, EDWARD V .00 .00 .00 .000 .250 .290 $290,000.00 N
600085908 LEE, FONG TOE .00 .00 .00 .000 .250 .290 $156,000.00 N
600085927 MERCADO, ANGIE R .00 .00 .00 .000 .250 .290 $250,000.00 N
600085936 MEGARD, TIM .00 .00 .00 .000 .250 .290 $128,000.00 N
600085938 TURNER, DEANNA D .00 .00 .00 .000 .250 .290 $155,000.00 N
600085941 MERWIN, WALTER LEE .00 .00 .00 .000 .250 .290 $123,000.00 N
600085952 NEAL, MICHAEL L .00 .00 .00 .000 .250 .290 $110,000.00 N
600085961 TIMM, JAMES E .00 .00 .00 .000 .250 .290 $190,000.00 N
600085966 PUIG, GEORGE A .00 .00 .00 .000 .250 .290 $360,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 125
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600085968 ENWILLER, JON P 4519 EAST CATHEDRAL R PHOENIX AZ 85044 $121,371.67
600085976 PAYSEUR, DAVID C 1618 MASSAPOAQ ROAD LINCOLNTON NC 28092 $43,518.10
600085977 STEADMAN, JAMES A 120 MELLYN LANE PIEDMONT SC 29673 $127,840.31
600085979 SHERRILL, CLINTON LYNN 2200- 403 N OCEAN BOUL NORTH MYRTLE BE SC 29582 $122,542.64
600085980 WALKER, SUSAN M 7700 SORRELL RUN COUR SUMMERFIELD NC 27358 $130,045.83
600085984 NORTHRUP, TERRANCE L 2039 EAST 60 SOUTH ST GEORGE UT 84790 $96,652.60
600085994 MCLEAN, SUSAN 184 GLENWOOD DRIVE MONROEVILLE PA 15146 $139,816.22
600085995 QUIN, JOSEPH Q 2904 STEEPLE HILL HIGHLAND MI 48357 $145,318.49
600085997 PEROW, MARK D 504 SOUTH LAVINIA ST LUDINGTON MI 49431 $46,331.12
600085998 GEARHART, DIANE M 1828 TALLMADGE ROAD KENT OH 44240 $106,171.04
600086001 HAMMETT, JAMES A 1052 WILBERT ROAD LAKEWOOD OH 44107 $159,699.55
600086006 MACE, DAVID E 58181 BAXTER CIRCLE ELKHART IN 46516 $85,390.57
600086008 PITTMAN, LYLE M 209 E GRIMES FAIRFIELD IA 52556 $54,297.85
600086009 BEATTY, JAMES J 4016 NORTH CASS AVENU WESTMONT IL 60559 $71,365.72
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600085968 ENWILLER, JON P 8.375 .250 8.125 .0400 8.085 08/01/2027
600085976 PAYSEUR, DAVID C 8.375 .250 8.125 .0400 8.085 08/01/2027
600085977 STEADMAN, JAMES A 8.375 .250 8.125 .0400 8.085 09/01/2027
600085979 SHERRILL, CLINTON LYNN 7.875 .250 7.625 .0400 7.585 08/01/2027
600085980 WALKER, SUSAN M 8.000 .250 7.750 .0400 7.710 09/01/2027
600085984 NORTHRUP, TERRANCE L 8.000 .250 7.750 .0400 7.710 09/01/2027
600085994 MCLEAN, SUSAN 8.125 .250 7.875 .0400 7.835 09/01/2027
600085995 QUIN, JOSEPH Q 8.375 .250 8.125 .0400 8.085 09/01/2027
600085997 PEROW, MARK D 8.375 .250 8.125 .0400 8.085 09/01/2027
600085998 GEARHART, DIANE M 7.875 .250 7.625 .0400 7.585 08/01/2027
600086001 HAMMETT, JAMES A 8.375 .250 8.125 .0400 8.085 08/01/2027
600086006 MACE, DAVID E 8.250 .250 8.000 .0400 7.960 09/01/2027
600086008 PITTMAN, LYLE M 8.375 .250 8.125 .0400 8.085 08/01/2027
600086009 BEATTY, JAMES J 8.375 .250 8.125 .0400 8.085 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600085968 ENWILLER, JON P 1569173610 $924.25 11/01/1997 360
600085976 PAYSEUR, DAVID C 1577085609 $331.40 11/01/1997 360
600085977 STEADMAN, JAMES A 1577089144 $972.90 11/01/1997 360
600085979 SHERRILL, CLINTON LYNN 1577090020 $893.29 11/01/1997 360
600085980 WALKER, SUSAN M 1577092036 $956.83 11/01/1997 360
600085984 NORTHRUP, TERRANCE L 1579056565 $710.29 11/01/1997 360
600085994 MCLEAN, SUSAN 1581102836 $1,039.50 11/01/1997 360
600085995 QUIN, JOSEPH Q 1581111699 $1,105.91 11/01/1997 360
600085997 PEROW, MARK D 1581113639 $352.68 11/01/1997 360
600085998 GEARHART, DIANE M 1581115623 $775.83 11/01/1997 360
600086001 HAMMETT, JAMES A 1581115907 $1,216.12 11/01/1997 360
600086006 MACE, DAVID E 1581118870 $642.34 11/01/1997 360
600086008 PITTMAN, LYLE M 1583046281 $413.48 11/01/1997 360
600086009 BEATTY, JAMES J 1583055486 $543.46 11/01/1997 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>
600085968 ENWILLER, JON P .00 .00 .00 .000 .250 .290 $152,000.00 N
600085976 PAYSEUR, DAVID C .00 .00 .00 .000 .250 .290 $54,500.00 N
600085977 STEADMAN, JAMES A .00 .00 .00 .000 .250 .290 $160,000.00 N
600085979 SHERRILL, CLINTON LYNN .00 .00 .00 .000 .250 .290 $154,000.00 N
600085980 WALKER, SUSAN M .00 .00 .00 .000 .250 .290 $163,000.00 N
600085984 NORTHRUP, TERRANCE L .00 .00 .00 .000 .250 .290 $121,000.00 N
600085994 MCLEAN, SUSAN .00 .00 .00 .000 .250 .290 $175,000.00 N
600085995 QUIN, JOSEPH Q .00 .00 .00 .000 .250 .290 $194,000.00 N
600085997 PEROW, MARK D .00 .00 .00 .000 .250 .290 $58,000.00 N
600085998 GEARHART, DIANE M .00 .00 .00 .000 .250 .290 $134,000.00 N
600086001 HAMMETT, JAMES A .00 .00 .00 .000 .250 .290 $274,000.00 N
600086006 MACE, DAVID E .00 .00 .00 .000 .250 .290 $106,900.00 N
600086008 PITTMAN, LYLE M .00 .00 .00 .000 .250 .290 $70,500.00 N
600086009 BEATTY, JAMES J .00 .00 .00 .000 .250 .290 $110,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 126
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086010 BOLDAK, IRENA 4557 NORTH SPRINGFIEL CHICAGO IL 60625 $85,816.35
600086012 RHODES, JR JON 350 SOUTH VAN BUREN KIRKWOOD MO 63122 $83,842.25
600086019 IVANKOVIC, ANTUN 2 FAIRVIEW AVENUE CLOSTER NJ 7624 $134,831.59
600086022 LOMBARDI, FRANK 42 NEWPORT DRIVE MANALAPAN NJ 7726 $183,654.48
600086024 COCO, BARRY M 5112 NORTH 6TH STREET ARLINGTON VA 22203 $157,295.92
600086032 GRAVES, CHERYL A 5432 BONITA DRIVE WIMAUMA FL 33598 $78,631.75
600086033 TUCKER, EDWARD E 5217 PEACH AVENUE SEFFNER FL 33584 $54,148.13
600086034 GIRO, RAFAEL R 24151 SW 157TH AVENUE MIAMI FL 33032 $205,992.71
600086036 FOREMANTAYLOR, ELIZABET 888 LEVITT PARKWAY ROCKLEDGE FL 32955 $49,438.24
600086067 SCHOENDORFF, THOMAS R 4415 N DAMEN AVENUE CHICAGO IL 60625 $135,719.52
600086078 WILLIAMS DOROTHY J 87 HORACE GREELEY R AMHERST NH 3031 $136,742.75
600086081 WILLCOX GEORGE H 20280 EAST RIVER ROAD GROSSE ILE MI 48138 $202,740.23
600086083 SMITH PATRICK S 31226 KRAUTER AVENUE GARDEN CITY MI 48135 $99,868.72
600086096 LEE CHRISTINA L 439 NW 19TH STREET OKLAHOMA CITY OK 73103 $187,658.71
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086010 BOLDAK, IRENA 8.375 .250 8.125 .0400 8.085 08/01/2027
600086012 RHODES, JR JON 8.375 .250 8.125 .0400 8.085 08/01/2027
600086019 IVANKOVIC, ANTUN 8.375 .250 8.125 .0400 8.085 09/01/2027
600086022 LOMBARDI, FRANK 8.375 .250 8.125 .0400 8.085 08/01/2027
600086024 COCO, BARRY M 8.250 .250 8.000 .0400 7.960 08/01/2027
600086032 GRAVES, CHERYL A 8.375 .250 8.125 .0400 8.085 08/01/2027
600086033 TUCKER, EDWARD E 8.375 .250 8.125 .0400 8.085 08/01/2027
600086034 GIRO, RAFAEL R 8.375 .250 8.125 .0400 8.085 09/01/2027
600086036 FOREMANTAYLOR, ELIZABET 8.375 .250 8.125 .0400 8.085 09/01/2027
600086067 SCHOENDORFF, THOMAS R 8.375 .250 8.125 .0400 8.085 08/01/2027
600086078 WILLIAMS DOROTHY J 8.375 .250 8.125 .0400 8.085 08/01/2027
600086081 WILLCOX GEORGE H 8.250 .250 8.000 .0400 7.960 09/01/2027
600086083 SMITH PATRICK S 8.125 .250 7.875 .0400 7.835 09/01/2027
600086096 LEE CHRISTINA L 8.250 .250 8.000 .0400 7.960 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086010 BOLDAK, IRENA 1583057095 $654.43 11/01/1997 360
600086012 RHODES, JR JON 1583058065 $638.47 11/01/1997 360
600086019 IVANKOVIC, ANTUN 1587061640 $1,026.10 11/01/1997 360
600086022 LOMBARDI, FRANK 1587073628 $1,398.54 11/01/1997 360
600086024 COCO, BARRY M 1587075485 $1,184.00 11/01/1997 360
600086032 GRAVES, CHERYL A 1589124275 $598.94 11/01/1997 360
600086033 TUCKER, EDWARD E 1589124570 $412.34 11/01/1997 360
600086034 GIRO, RAFAEL R 1589125620 $1,567.65 11/01/1997 360
600086036 FOREMANTAYLOR, ELIZABET 1590050314 $376.24 11/01/1997 360
600086067 SCHOENDORFF, THOMAS R 1604087230 $1,033.70 11/01/1997 360
600086078 WILLIAMS DOROTHY J 1500342651 $1,041.30 11/01/1997 360
600086081 WILLCOX GEORGE H 1507258688 $1,525.07 11/01/1997 360
600086083 SMITH PATRICK S 1507288791 $742.50 11/01/1997 360
600086096 LEE CHRISTINA L 1563165244 $1,412.39 11/01/1997 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>
600086010 BOLDAK, IRENA .00 .00 .00 .000 .250 .290 $123,000.00 N
600086012 RHODES, JR JON .00 .00 .00 .000 .250 .290 $105,000.00 N
600086019 IVANKOVIC, ANTUN .00 .00 .00 .000 .250 .290 $180,000.00 N
600086022 LOMBARDI, FRANK .00 .00 .00 .000 .250 .290 $230,000.00 N
600086024 COCO, BARRY M .00 .00 .00 .000 .250 .290 $242,000.00 N
600086032 GRAVES, CHERYL A .00 .00 .00 .000 .250 .290 $106,000.00 N
600086033 TUCKER, EDWARD E .00 .00 .00 .000 .250 .290 $92,000.00 N
600086034 GIRO, RAFAEL R .00 .00 .00 .000 .250 .290 $275,000.00 N
600086036 FOREMANTAYLOR, ELIZABET .00 .00 .00 .000 .250 .290 $84,500.00 N
600086067 SCHOENDORFF, THOMAS R .00 .00 .00 .000 .250 .290 $170,000.00 N
600086078 WILLIAMS DOROTHY J .00 .00 .00 .000 .250 .290 $300,000.00 N
600086081 WILLCOX GEORGE H .00 .00 .00 .000 .250 .290 $422,000.00 N
600086083 SMITH PATRICK S .00 .00 .00 .000 .250 .290 $125,000.00 N
600086096 LEE CHRISTINA L .00 .00 .00 .000 .250 .290 $235,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 127
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086106 FLANIGAN RICK E 4408 SW 35 AVENUE DANIA FL 33004 $167,785.00
600086118 SAULSBUR 1634 STEVENS AVENUE ORLANDO FL 32806 $79,602.55
600086119 DIMICHEL 242 E MCCREIGHT AVENU SPRINGFIELD OH 45503 $48,310.54
600086120 MARSHALL 1226 BENT OAK TRAIL ALTAMONTE SPRIN FL 32714 $96,402.61
600086122 GRADECAK 270 OVERLEAF DRIVE ARNOLD MD 21012 $93,452.69
600086123 SURGENER 563 EAST BERNARD HAZEL PARK MI 48030 $42,763.95
600086127 YAGHNAM 4020 AFFIRMED FLORISSANT MO 63034 $125,795.90
600086130 KOZER 6531 CHANNEL ROAD FRIDLEY MN 55432 $126,205.67
600086136 GREEN 258 E ALCOTT ROAD COLUMBUS OH 43207 $52,437.78
600086137 MALEC 1947 BELLAVISTA HOWELL MI 48843 $164,314.03
600086140 BANCHER 1675 TIMBER LANE DRI MONTGOMERY IL 60538 $136,947.63
600086141 SCHLASIN 167 CREEKSIDE LANE MINNETONKA MN 55345 $109,383.45
600086143 LEMON 138 BRONCO PLACE GERMANTOWN MD 20874 $125,093.11
600086144 FRIEDMAN 5285 MONTEREY CIRCLE DELCAY BEACH FL 33484 $92,681.23
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086106 FLANIGAN RICK E 8.250 .250 8.000 .0400 7.960 09/01/2027
600086118 SAULSBUR 8.500 .250 8.250 .0500 8.200 03/01/2027
600086119 DIMICHEL 9.125 .250 8.875 .0500 8.825 04/01/2027
600086120 MARSHALL 8.875 .250 8.625 .0500 8.575 07/01/2027
600086122 GRADECAK 9.250 .250 9.000 .0500 8.950 05/01/2027
600086123 SURGENER 9.250 .250 9.000 .0500 8.950 05/01/2027
600086127 YAGHNAM 8.750 .250 8.500 .0500 8.450 06/01/2027
600086130 KOZER 8.750 .250 8.500 .0500 8.450 07/01/2027
600086136 GREEN 8.625 .250 8.375 .0500 8.325 09/01/2027
600086137 MALEC 9.250 .250 9.000 .0500 8.950 09/01/2027
600086140 BANCHER 8.625 .250 8.375 .0500 8.325 08/01/2027
600086141 SCHLASIN 8.125 .250 7.875 .0500 7.825 08/01/2027
600086143 LEMON 9.000 .250 8.750 .0500 8.700 08/01/2027
600086144 FRIEDMAN 8.250 .250 8.000 .0500 7.950 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086106 FLANIGAN RICK E 1589129010 $1,262.13 11/01/1997 360
600086118 SAULSBUR 0915916 $615.13 11/01/1997 360
600086119 DIMICHEL 0916916 $397.05 11/01/1997 360
600086120 MARSHALL 0920079 $769.79 11/01/1997 360
600086122 GRADECAK 0923895 $771.26 11/01/1997 360
600086123 SURGENER 0924503 $352.93 11/01/1997 360
600086127 YAGHNAM 0926340 $1,006.98 11/01/1997 360
600086130 KOZER 0928502 $995.18 11/01/1997 360
600086136 GREEN 0930615 $408.34 11/01/1997 360
600086137 MALEC 0930715 $1,353.30 11/01/1997 360
600086140 BANCHER 0931771 $1,067.13 11/01/1997 360
600086141 SCHLASIN 0931974 $813.78 11/01/1997 360
600086143 LEMON 0932168 $1,008.20 19 11/01/1997 360
600086144 FRIEDMAN 0932425 $697.18 11/01/1997 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>
600086106 FLANIGAN RICK E .00 .00 .00 .000 .250 .290 $240,000.00 N
600086118 SAULSBUR .00 .00 .00 .000 .250 .300 $165,000.00 N
600086119 DIMICHEL .00 .00 .00 .000 .250 .300 $61,000.00 N
600086120 MARSHALL .00 .00 .00 .000 .250 .300 $129,000.00 N
600086122 GRADECAK .00 .00 .00 .000 .250 .300 $125,000.00 N
600086123 SURGENER .00 .00 .00 .000 .250 .300 $66,000.00 N
600086127 YAGHNAM .00 .00 .00 .000 .250 .300 $160,000.00 N
600086130 KOZER .00 .00 .00 .000 .250 .300 $160,000.00 N
600086136 GREEN .00 .00 .00 .000 .250 .300 $70,000.00 N
600086137 MALEC .00 .00 .00 .000 .250 .300 $260,000.00 N
600086140 BANCHER .00 .00 .00 .000 .250 .300 $172,000.00 N
600086141 SCHLASIN .00 .00 .00 .000 .250 .300 $137,000.00 N
600086143 LEMON .00 .00 .00 .000 .250 .300 $132,000.00 N
600086144 FRIEDMAN .00 .00 .00 .000 .250 .300 $116,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 128
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086146 PERKINS 5030 HILLIARD GREEN HILLIARD OH 43026 $116,827.53
600086147 BRENNAN 68 N ELIZABETH ST LOMBARD IL 60148 $76,366.98
600086148 OSHAUGHN 4915 W 143RD STREET APPLEVALLEY MN 55124 $97,880.84
600086149 SHIMAN 407 FAIRWOOD BOULEV FAIRHOPE AL 36532 $94,884.49
600086150 O'CONNOR 704 CERNY DRIVE EUREKA MO 63025 $69,575.58
600086151 DYE 2252 NORTH FREEMONT CHICAGO IL 60614 $124,787.38
600086153 PROPST 2447 SHERINGHAM ROAD UPPER ARLINGTON OH 43220 $194,643.09
600086154 LEANZA 1563 EAST 193RD STRE EUCLID OH 44117 $48,515.50
600086155 SIUSTA 31 97TH AVENUE NW COON RAPIDS MN 55433 $111,863.82
600086156 SIUSTA 27 97TH AVENUE NW COON RAPIDS MN 55433 $111,863.82
600086157 NOORI 5701 MARINER DRIVE TAMPA FL 33609 $83,809.73
600086158 WINN 7113 52ND DRIVE EAST BRADENTON FL 34203 $84,899.28
600086159 WOODALL 3601 N PHILLIPS STRE TAMPA FL 33619 $45,448.79
600086160 RAMEY 4642 FALL CREEK RD CHATTANOOGA TN 37416 $82,544.24
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086146 PERKINS 8.750 .250 8.500 .0500 8.450 07/01/2027
600086147 BRENNAN 8.750 .250 8.500 .0500 8.450 08/01/2027
600086148 OSHAUGHN 8.500 .250 8.250 .0500 8.200 09/01/2027
600086149 SHIMAN 8.500 .250 8.250 .0500 8.200 09/01/2027
600086150 O'CONNOR 9.125 .250 8.875 .0500 8.825 09/01/2027
600086151 DYE 9.000 .250 8.750 .0500 8.700 09/01/2027
600086153 PROPST 8.500 .250 8.250 .0500 8.200 08/01/2027
600086154 LEANZA 8.750 .250 8.500 .0500 8.450 08/01/2027
600086155 SIUSTA 8.500 .250 8.250 .0500 8.200 09/01/2027
600086156 SIUSTA 8.500 .250 8.250 .0500 8.200 09/01/2027
600086157 NOORI 8.625 .250 8.375 .0500 8.325 08/01/2027
600086158 WINN 8.625 .250 8.375 .0500 8.325 09/01/2027
600086159 WOODALL 8.875 .250 8.625 .0500 8.575 09/01/2027
600086160 RAMEY 8.250 .250 8.000 .0500 7.950 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086146 PERKINS 0932725 $921.23 7 11/01/1997 360
600086147 BRENNAN 0933013 $601.83 12 11/01/1997 360
600086148 OSHAUGHN 0933256 $753.54 11/01/1997 360
600086149 SHIMAN 0934187 $730.47 11/01/1997 360
600086150 O'CONNOR 0934283 $566.70 11/01/1997 360
600086151 DYE 0934403 $1,005.78 11/01/1997 360
600086153 PROPST 0934528 $1,499.38 11/01/1997 360
600086154 LEANZA 0934830 $382.34 12 11/01/1997 360
600086155 SIUSTA 0935084 $861.18 11/01/1997 360
600086156 SIUSTA 0935085 $861.18 11/01/1997 360
600086157 NOORI 0935255 $653.34 11/01/1997 360
600086158 WINN 0935312 $661.12 11/01/1997 360
600086159 WOODALL 0935411 $362.02 11/01/1997 360
600086160 RAMEY 0935501 $620.92 12 11/01/1997 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>
600086146 PERKINS .00 .00 .00 .000 .250 .300 $130,120.00 N
600086147 BRENNAN .00 .00 .00 .000 .250 .300 $85,000.00 N
600086148 OSHAUGHN .00 .00 .00 .000 .250 .300 $122,500.00 N
600086149 SHIMAN .00 .00 .00 .000 .250 .300 $147,000.00 N
600086150 O'CONNOR .00 .00 .00 .000 .250 .300 $96,000.00 N
600086151 DYE .00 .00 .00 .000 .250 .300 $458,716.00 N
600086153 PROPST .00 .00 .00 .000 .250 .300 $260,000.00 N
600086154 LEANZA .00 .00 .00 .000 .250 .300 $54,000.00 N
600086155 SIUSTA .00 .00 .00 .000 .250 .300 $140,000.00 N
600086156 SIUSTA .00 .00 .00 .000 .250 .300 $140,000.00 N
600086157 NOORI .00 .00 .00 .000 .250 .300 $105,000.00 N
600086158 WINN .00 .00 .00 .000 .250 .300 $117,000.00 N
600086159 WOODALL .00 .00 .00 .000 .250 .300 $65,000.00 N
600086160 RAMEY .00 .00 .00 .000 .250 .300 $87,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 129
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086161 BRADSHAW 725 YEAGER ROAD DILLSBURG PA 17019 $164,294.79
600086163 ROBISON 808 WEST KALAMAZOO KALAMAZOO MI 49007 $91,094.68
600086164 KOSALKA 4552 N DELPHIA AVENU CHICAGO IL 60656 $210,130.76
600086165 OGLESBY 9318 ANTAUGA STREET HOUSTON TX 77080 $55,437.55
600086167 MATHIS 2730 COLLEGE HILL SCHAUMBURG IL 60173 $91,738.31
600086168 SCHEIBER 117 S HARDING GARDEN HOMES IL 60655 $107,861.79
600086169 SCHOBER 8554 PALMETTO DRIVE ST LOUIS MO 63123 $63,929.82
600086171 FISKE 805 N PARSONS AVENUE BRANDON FL 33510 $51,643.31
600086173 BRINGOLA 4 LEHNER STREET WOLFEBORO NH 3894 $95,474.50
600086175 GRANOVSK 37 SACO STREET NEWTON MA 2164 $169,798.55
600086176 DIALS 501 OXBOW LAKE RD WHITE LAKE MI 48386 $108,617.76
600086177 CLOUSE 3944 THRUSH DRIVE INDIANAPOLIS IN 46222 $47,109.40
600086179 HOPPING 244 BERG RD SOUTHFIELD MI 48034 $120,257.32
600086181 ADAMS 3913 ORCHARD ROAD LAKE GENEVA WI 53147 $35,957.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086161 BRADSHAW 8.375 .250 8.125 .0500 8.075 09/01/2027
600086163 ROBISON 8.750 .250 8.500 .0500 8.450 09/01/2027
600086164 KOSALKA 8.250 .250 8.000 .0500 7.950 09/01/2027
600086165 OGLESBY 8.875 .250 8.625 .0500 8.575 09/01/2027
600086167 MATHIS 8.500 .250 8.250 .0500 8.200 09/01/2027
600086168 SCHEIBER 8.250 .250 8.000 .0500 7.950 09/01/2027
600086169 SCHOBER 9.000 .250 8.750 .0500 8.700 09/01/2027
600086171 FISKE 9.000 .250 8.750 .0500 8.700 09/01/2027
600086173 BRINGOLA 8.125 .250 7.875 .0500 7.825 09/01/2027
600086175 GRANOVSK 8.625 .250 8.375 .0500 8.325 09/01/2027
600086176 DIALS 8.500 .250 8.250 .0500 8.200 09/01/2027
600086177 CLOUSE 8.250 .250 8.000 .0500 7.950 09/01/2027
600086179 HOPPING 8.625 .250 8.375 .0500 8.325 09/01/2027
600086181 ADAMS 8.625 .250 8.375 .0500 8.325 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086161 BRADSHAW 0935546 $1,250.32 11/01/1997 360
600086163 ROBISON 0935874 $717.47 11/01/1997 360
600086164 KOSALKA 0936231 $1,580.66 11/01/1997 360
600086165 OGLESBY 0936258 $441.58 11/01/1997 360
600086167 MATHIS 0936394 $706.25 11/01/1997 360
600086168 SCHEIBER 0936420 $811.37 11/01/1997 360
600086169 SCHOBER 0936484 $514.96 11/01/1997 360
600086171 FISKE 0937197 $415.99 12 11/01/1997 360
600086173 BRINGOLA 0937325 $709.83 11/01/1997 360
600086175 GRANOVSK 0937495 $1,322.24 11/01/1997 360
600086176 DIALS 0937517 $836.20 11/01/1997 360
600086177 CLOUSE 0937587 $354.60 12 11/01/1997 360
600086179 HOPPING 0937992 $936.46 11/01/1997 360
600086181 ADAMS 0938055 $280.00 11/01/1997 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>
600086161 BRADSHAW .00 .00 .00 .000 .250 .300 $225,000.00 N
600086163 ROBISON .00 .00 .00 .000 .250 .300 $114,000.00 N
600086164 KOSALKA .00 .00 .00 .000 .250 .300 $263,000.00 N
600086165 OGLESBY .00 .00 .00 .000 .250 .300 $74,000.00 N
600086167 MATHIS .00 .00 .00 .000 .250 .300 $122,500.00 N
600086168 SCHEIBER .00 .00 .00 .000 .250 .300 $144,000.00 N
600086169 SCHOBER .00 .00 .00 .000 .250 .300 $81,000.00 N
600086171 FISKE .00 .00 .00 .000 .250 .300 $57,500.00 N
600086173 BRINGOLA .00 .00 .00 .000 .250 .300 $119,500.00 N
600086175 GRANOVSK .00 .00 .00 .000 .250 .300 $227,000.00 N
600086176 DIALS .00 .00 .00 .000 .250 .300 $145,000.00 N
600086177 CLOUSE .00 .00 .00 .000 .250 .300 $52,500.00 N
600086179 HOPPING .00 .00 .00 .000 .250 .300 $172,000.00 N
600086181 ADAMS .00 .00 .00 .000 .250 .300 $127,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 130
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086182 WILKINSO 151 W 132ND ST OLATHE KS 66062 $92,248.74
600086184 BUSLJETA 4518 NORTH CENTRAL P CHICAGO IL 60625 $150,901.26
600086186 ROMANO 5 AMBER COURT CRETE IL 60417 $149,812.88
600086187 AVILA 1568 PARK PLACE ROAD WESTERVILLE OH 43081 $41,549.16
600086188 ZAVAGLI 1700 ALTA VISTA STRE SARASOTA FL 34236 $164,610.29
600086189 NEUBAUER 1529 SUMMIT STREET COLUMBUS OH 43202 $40,003.75
600086190 GREEN 7521 RIVERDALE RD NEW CARROLLTON MD 20784 $22,674.44
600086191 GREEN 7519 RIVERDALE RD NEW CARROLLTON MD 20784 $23,373.67
600086192 CHIA 810 ALEXANDER DENTON TX 76201 $59,176.10
600086193 HANSEN 7327 AUTUMN PARK SAN ANTONIO TX 78249 $77,755.34
600086194 WASIM 2485 SUTTER PKWY DUBLIN OH 43016 $64,024.05
600086195 WOUDSTRA 6000 OLD FLINT ROAD WHITE LAKE MI 48383 $166,791.68
600086196 ALLISON 571 GLENDALE CIRCLE ANN ARBOR MI 48103 $188,576.26
600086198 SAULS 2008 EAST JOHNSON AV PENSACOLA FL 32514 $92,883.98
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086182 WILKINSO 9.000 .250 8.750 .0500 8.700 09/01/2027
600086184 BUSLJETA 8.125 .250 7.875 .0500 7.825 08/01/2027
600086186 ROMANO 8.375 .250 8.125 .0500 8.075 09/01/2027
600086187 AVILA 8.500 .250 8.250 .0500 8.200 09/01/2027
600086188 ZAVAGLI 8.625 .250 8.375 .0500 8.325 09/01/2027
600086189 NEUBAUER 8.750 .250 8.500 .0500 8.450 09/01/2027
600086190 GREEN 8.875 .250 8.625 .0500 8.575 09/01/2027
600086191 GREEN 8.875 .250 8.625 .0500 8.575 09/01/2027
600086192 CHIA 8.375 .250 8.125 .0500 8.075 09/01/2027
600086193 HANSEN 8.500 .250 8.250 .0500 8.200 09/01/2027
600086194 WASIM 8.625 .250 8.375 .0500 8.325 09/01/2027
600086195 WOUDSTRA 8.375 .250 8.125 .0500 8.075 09/01/2027
600086196 ALLISON 8.625 .250 8.375 .0500 8.325 09/01/2027
600086198 SAULS 8.375 .250 8.125 .0500 8.075 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086182 WILKINSO 0938125 $743.07 11/01/1997 360
600086184 BUSLJETA 0938395 $1,122.66 12 11/01/1997 360
600086186 ROMANO 0938443 $1,140.11 11/01/1997 360
600086187 AVILA 0938644 $319.87 11/01/1997 360
600086188 ZAVAGLI 0938691 $1,283.35 11/01/1997 360
600086189 NEUBAUER 0939042 $315.07 12 11/01/1997 360
600086190 GREEN 0939192 $180.62 11/01/1997 360
600086191 GREEN 0939194 $186.18 11/01/1997 360
600086192 CHIA 0939287 $450.34 11/01/1997 360
600086193 HANSEN 0939378 $598.60 12 11/01/1997 360
600086194 WASIM 0939600 $498.56 11/01/1997 360
600086195 WOUDSTRA 0939603 $1,269.32 11/01/1997 360
600086196 ALLISON 0939653 $1,468.47 11/01/1997 360
600086198 SAULS 0939747 $706.87 11/01/1997 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>
600086182 WILKINSO .00 .00 .00 .000 .250 .300 $142,385.00 N
600086184 BUSLJETA .00 .00 .00 .000 .250 .300 $168,000.00 N
600086186 ROMANO .00 .00 .00 .000 .250 .300 $200,000.00 N
600086187 AVILA .00 .00 .00 .000 .250 .300 $52,000.00 N
600086188 ZAVAGLI .00 .00 .00 .000 .250 .300 $265,000.00 N
600086189 NEUBAUER .00 .00 .00 .000 .250 .300 $44,500.00 N
600086190 GREEN .00 .00 .00 .000 .250 .300 $30,000.00 N
600086191 GREEN .00 .00 .00 .000 .250 .300 $30,000.00 N
600086192 CHIA .00 .00 .00 .000 .250 .300 $79,000.00 N
600086193 HANSEN .00 .00 .00 .000 .250 .300 $86,529.00 N
600086194 WASIM .00 .00 .00 .000 .250 .300 $125,000.00 N
600086195 WOUDSTRA .00 .00 .00 .000 .250 .300 $210,500.00 N
600086196 ALLISON .00 .00 .00 .000 .250 .300 $236,000.00 N
600086198 SAULS .00 .00 .00 .000 .250 .300 $124,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 131
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086200 WOODALL 3603 N PHILLIPS STRE TAMPA FL 33619 $45,448.79
600086201 DIES 509 H ROLLING GREEN FONTANA WI 53125 $79,747.81
600086202 TIPPLE 2704 MOONLIGHT LANE COLUMBUS OH 43207 $69,222.01
600086203 DOSHI 392 S BURGESS AVENUE COLUMBUS OH 43204 $48,546.70
600086204 GARCIA 3507 GERTRUDE AVENU DEARBORN MI 48124 $67,413.61
600086205 ROBINSON 7581 CLOVERBROOK PAR CENTERVILLE OH 45459 $135,830.35
600086206 TUMINELL 718 FORT HILL DR VICKSBURG MS 39180 $40,437.03
600086207 CANNADAY 721 DEAN WAY FT MYERS FL 33919 $69,912.68
600086209 WOODALL 3415 N 54TH STREET TAMPA FL 33619 $45,448.79
600086210 SANTOS 1877 E CROWLEY CIRCL LONGWOOD FL 32779 $101,669.73
600086211 WHITE 120 DOUGLAS STREET CHATTANOOGA TN 37403 $79,103.70
600086212 KERN 182 ORIOLE RD FORT MYERS FL 33912 $52,139.72
600086213 DEBS 4954 CUMNOR DOWNERS GROVE IL 60515 $83,895.22
600086214 NELSON 363 MARGARET TERRAC CARY IL 60013 $94,890.28
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086200 WOODALL 8.875 .250 8.625 .0500 8.575 09/01/2027
600086201 DIES 8.250 .250 8.000 .0500 7.950 09/01/2027
600086202 TIPPLE 8.875 .250 8.625 .0500 8.575 09/01/2027
600086203 DOSHI 9.000 .250 8.750 .0500 8.700 09/01/2027
600086204 GARCIA 8.250 .250 8.000 .0500 7.950 09/01/2027
600086205 ROBINSON 8.375 .250 8.125 .0500 8.075 09/01/2027
600086206 TUMINELL 8.250 .250 8.000 .0500 7.950 09/01/2027
600086207 CANNADAY 8.375 .250 8.125 .0500 8.075 09/01/2027
600086209 WOODALL 8.875 .250 8.625 .0500 8.575 09/01/2027
600086210 SANTOS 8.250 .250 8.000 .0500 7.950 09/01/2027
600086211 WHITE 8.500 .250 8.250 .0500 8.200 09/01/2027
600086212 KERN 8.750 .250 8.500 .0500 8.450 09/01/2027
600086213 DEBS 8.375 .250 8.125 .0500 8.075 09/01/2027
600086214 NELSON 8.750 .250 8.500 .0500 8.450 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086200 WOODALL 0939778 $362.02 11/01/1997 360
600086201 DIES 0940013 $599.89 11/01/1997 360
600086202 TIPPLE 0940210 $551.38 2 11/01/1997 360
600086203 DOSHI 0940226 $391.05 19 11/01/1997 360
600086204 GARCIA 0940275 $507.11 11/01/1997 360
600086205 ROBINSON 0940348 $1,033.70 11/01/1997 360
600086206 TUMINELL 0940476 $304.26 11/01/1997 360
600086207 CANNADAY 0940663 $532.05 11/01/1997 360
600086209 WOODALL 0940733 $362.02 11/01/1997 360
600086210 SANTOS 0940809 $764.79 11/01/1997 360
600086211 WHITE 0940813 $608.98 12 11/01/1997 360
600086212 KERN 0940886 $410.66 2 11/01/1997 360
600086213 DEBS 0940948 $638.46 11/01/1997 360
600086214 NELSON 0940986 $747.37 11/01/1997 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>
600086200 WOODALL .00 .00 .00 .000 .250 .300 $65,000.00 N
600086201 DIES .00 .00 .00 .000 .250 .300 $106,500.00 N
600086202 TIPPLE .00 .00 .00 .000 .250 .300 $77,000.00 N
600086203 DOSHI .00 .00 .00 .000 .250 .300 $54,000.00 N
600086204 GARCIA .00 .00 .00 .000 .250 .300 $90,000.00 N
600086205 ROBINSON .00 .00 .00 .000 .250 .300 $170,000.00 N
600086206 TUMINELL .00 .00 .00 .000 .250 .300 $86,500.00 N
600086207 CANNADAY .00 .00 .00 .000 .250 .300 $108,000.00 N
600086209 WOODALL .00 .00 .00 .000 .250 .300 $65,000.00 N
600086210 SANTOS .00 .00 .00 .000 .250 .300 $165,500.00 N
600086211 WHITE .00 .00 .00 .000 .250 .300 $88,000.00 N
600086212 KERN .00 .00 .00 .000 .250 .300 $58,000.00 N
600086213 DEBS .00 .00 .00 .000 .250 .300 $105,000.00 N
600086214 NELSON .00 .00 .00 .000 .250 .300 $123,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 132
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086216 HOELTING 7240 REEDS OVERLAND PARK KS 66204 $58,930.07
600086217 OLALDE 1519 COLUMBIA DRIVE ELK GROVE VILLA IL 60007 $97,440.94
600086218 KARSTRAN 122 HIAWATHA DRIVE CLARENDON HILLS IL 60514 $110,108.78
600086220 VERNON 5565 PRESTON OAKS RD DALLAS TX 75240 $49,940.76
600086222 GILLIAM 141 S 1417 FOURTH STR COLUMBUS OH 43207 $43,955.39
600086224 WOMACK 4613 MARS COURT ACWORTH GA 30101 $71,673.43
600086225 ROSBERG 9446 PORT ROYAL MARTINSVILLE IN 46151 $59,463.96
600086226 SCALZITT 3310 60TH AVENUE WES BRADENTON FL 34209 $49,936.01
600086227 STANIFER 1620 RILEY CENTER RD MEMPHIS MI 48041 $86,904.60
600086228 PARCHER 6101 ROYAL PALM BLVD MARGATE FL 33063 $79,948.99
600086229 KOTELES 532 DAVIS BLVD WEST TAMPA FL 33606 $149,812.88
600086231 ELKINS 248 HIGHWAY 70 PEGRAM TN 37143 $83,947.78
600086232 FAGAN SR 1031 ANGLERS COVE MARCO ISLAND FL 34145 $44,948.03
600086233 BURNS 623 SUNSET PIQUA OH 45356 $55,466.38
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086216 HOELTING 8.625 .250 8.375 .0500 8.325 09/01/2027
600086217 OLALDE 8.500 .250 8.250 .0500 8.200 10/01/2027
600086218 KARSTRAN 8.375 .250 8.125 .0500 8.075 09/01/2027
600086220 VERNON 8.625 .250 8.375 .0500 8.325 09/01/2027
600086222 GILLIAM 9.375 .250 9.125 .0500 9.075 09/01/2027
600086224 WOMACK 8.625 .250 8.375 .0500 8.325 09/01/2017
600086225 ROSBERG 8.500 .250 8.250 .0500 8.200 10/01/2027
600086226 SCALZITT 8.250 .250 8.000 .0500 7.950 09/01/2027
600086227 STANIFER 9.000 .250 8.750 .0500 8.700 09/01/2027
600086228 PARCHER 8.250 .250 8.000 .0500 7.950 10/01/2027
600086229 KOTELES 8.375 .250 8.125 .0500 8.075 09/01/2027
600086231 ELKINS 8.375 .250 8.125 .0500 8.075 10/01/2027
600086232 FAGAN SR 8.750 .250 8.500 .0500 8.450 09/01/2027
600086233 BURNS 8.500 .250 8.250 .0500 8.200 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086216 HOELTING 0941048 $458.90 12 11/01/1997 360
600086217 OLALDE 0941058 $749.69 11/01/1997 360
600086218 KARSTRAN 0941063 $839.12 11/01/1997 360
600086220 VERNON 0941122 $388.89 11/01/1997 360
600086222 GILLIAM 0941491 $365.97 11/01/1997 360
600086224 WOMACK 0941824 $629.66 11/01/1997 240
600086225 ROSBERG 0941889 $457.50 11/01/1997 360
600086226 SCALZITT 0942288 $375.63 11/01/1997 360
600086227 STANIFER 0942303 $700.02 11/01/1997 360
600086228 PARCHER 0942381 $601.01 11/01/1997 360
600086229 KOTELES 0942510 $1,140.11 11/01/1997 360
600086231 ELKINS 0942913 $638.47 11/01/1997 360
600086232 FAGAN SR 0943098 $354.02 11/01/1997 360
600086233 BURNS 0943390 $426.75 11/01/1997 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>
600086216 HOELTING .00 .00 .00 .000 .250 .300 $65,600.00 N
600086217 OLALDE .00 .00 .00 .000 .250 .300 $137,000.00 N
600086218 KARSTRAN .00 .00 .00 .000 .250 .300 $138,000.00 N
600086220 VERNON .00 .00 .00 .000 .250 .300 $81,500.00 N
600086222 GILLIAM .00 .00 .00 .000 .250 .300 $55,000.00 N
600086224 WOMACK .00 .00 .00 .000 .250 .300 $89,900.00 N
600086225 ROSBERG .00 .00 .00 .000 .250 .300 $85,000.00 N
600086226 SCALZITT .00 .00 .00 .000 .250 .300 $78,000.00 N
600086227 STANIFER .00 .00 .00 .000 .250 .300 $116,000.00 N
600086228 PARCHER .00 .00 .00 .000 .250 .300 $110,000.00 N
600086229 KOTELES .00 .00 .00 .000 .250 .300 $200,000.00 N
600086231 ELKINS .00 .00 .00 .000 .250 .300 $120,000.00 N
600086232 FAGAN SR .00 .00 .00 .000 .250 .300 $90,000.00 N
600086233 BURNS .00 .00 .00 .000 .250 .300 $90,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 133
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086234 COUGHLIN 2832 42ND AVE S MINNEPOLIS MN 55406 $59,927.04
600086235 NAVARRO 77 W MAGNOLIA DRIV STREAMWOOD IL 60107 $141,836.02
600086236 PROST 260 W CALHOUN AVE ANTIOCH IL 60002 $175,780.44
600086237 ALVINO 4611 WEST GRACE SCHILLER PARK IL 60176 $112,859.05
600086238 MOORE 632 NORTH CENTRAL EUREKA MO 63025 $50,931.30
600086239 MODULA 1849 LOST VALLEY ROA POWELL OH 43065 $96,879.00
600086241 LUZIETTI 370 HAYDEN ROAD TALLAHASSEE FL 32304 $59,286.53
600086242 LANG 708 CHANNING FERNDALE MI 48220 $61,167.44
600086244 VALADEZ 427 SAIPAN PLACE SAN ANTONIO TX 78221 $39,951.35
600086246 BAYS 4821 NARRAGANSETT AV SAN DIEGO CA 92107 $199,369.68
600086247 GREENLEA 3416 EAST LAVEY PHOENIX AZ 85032 $105,950.31
600086248 SMITH 7510 HYATT PRAIRIE R ASHLAND OR 97520 $149,550.60
600086249 ROBERSON 3622 NORTHEAST 7TH GRESHAM OR 97030 $89,781.51
600086250 MAGANA 9208 LUBEC STREET DOWNEY CA 90240 $193,252.37
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086234 COUGHLIN 8.500 .250 8.250 .0500 8.200 09/01/2027
600086235 NAVARRO 8.750 .250 8.500 .0500 8.450 09/01/2027
600086236 PROST 8.375 .250 8.125 .0500 8.075 09/01/2027
600086237 ALVINO 8.375 .250 8.125 .0500 8.075 09/01/2027
600086238 MOORE 8.375 .250 8.125 .0500 8.075 09/01/2027
600086239 MODULA 8.375 .250 8.125 .0500 8.075 09/01/2027
600086241 LUZIETTI 8.750 .250 8.500 .0500 8.450 09/01/2027
600086242 LANG 9.125 .250 8.875 .0500 8.825 10/01/2027
600086244 VALADEZ 8.500 .250 8.250 .0500 8.200 09/01/2027
600086246 BAYS 8.375 .250 8.125 .0500 8.075 06/01/2027
600086247 GREENLEA 8.875 .250 8.625 .0500 8.575 07/01/2027
600086248 SMITH 8.625 .250 8.375 .0500 8.325 07/01/2027
600086249 ROBERSON 8.125 .250 7.875 .0500 7.825 09/01/2027
600086250 MAGANA 8.250 .250 8.000 .0500 7.950 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086234 COUGHLIN 0943534 $461.35 11/01/1997 360
600086235 NAVARRO 0943543 $1,117.11 11/01/1997 360
600086236 PROST 0943588 $1,337.73 11/01/1997 360
600086237 ALVINO 0943735 $858.88 11/01/1997 360
600086238 MOORE 0943737 $389.16 11/01/1997 360
600086239 MODULA 0944231 $737.27 11/01/1997 360
600086241 LUZIETTI 0944590 $467.30 12 11/01/1997 360
600086242 LANG 0944835 $497.94 12 11/01/1997 360
600086244 VALADEZ 0945002 $307.57 11/01/1997 360
600086246 BAYS 6210962 $1,520.15 11/01/1997 360
600086247 GREENLEA 6211073 $845.93 11/01/1997 360
600086248 SMITH 6211448 $1,166.69 11/01/1997 360
600086249 ROBERSON 6211561 $668.25 11/01/1997 360
600086250 MAGANA 6211774 $1,453.70 11/01/1997 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>
600086234 COUGHLIN .00 .00 .00 .000 .250 .300 $75,000.00 N
600086235 NAVARRO .00 .00 .00 .000 .250 .300 $194,000.00 N
600086236 PROST .00 .00 .00 .000 .250 .300 $220,000.00 N
600086237 ALVINO .00 .00 .00 .000 .250 .300 $165,000.00 N
600086238 MOORE .00 .00 .00 .000 .250 .300 $64,000.00 N
600086239 MODULA .00 .00 .00 .000 .250 .300 $121,250.00 N
600086241 LUZIETTI .00 .00 .00 .000 .250 .300 $66,000.00 N
600086242 LANG .00 .00 .00 .000 .250 .300 $68,000.00 N
600086244 VALADEZ .00 .00 .00 .000 .250 .300 $57,000.00 N
600086246 BAYS .00 .00 .00 .000 .250 .300 $260,000.00 N
600086247 GREENLEA .00 .00 .00 .000 .250 .300 $132,900.00 N
600086248 SMITH .00 .00 .00 .000 .250 .300 $210,000.00 N
600086249 ROBERSON .00 .00 .00 .000 .250 .300 $120,000.00 N
600086250 MAGANA .00 .00 .00 .000 .250 .300 $265,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 134
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086252 JENSEN 2642 COHOE COURT CASTRO VALLEY CA 94546 $127,514.20
600086253 PIERSON 227 BEGONIA BOULEVA FAIRFIELD CA 94533 $142,088.33
600086254 MARCH 1099 CLUBHOUSE DRIVE SANTA MARIA CA 93455 $179,769.65
600086255 SANCHEZ 2615 SOUTH FREMONT A ALHAMBRA CA 91803 $171,779.89
600086256 MIKAELIA 5901 OSTROM AVENUE LOS ANGELES CA 91316 $111,863.80
600086257 RICKEY 915 WEST YALE DRIVE TEMPE AZ 85283 $56,275.75
600086258 DAVALOS 180 SUNDOWNER WAY CANYON COUNTRY CA 91351 $52,469.79
600086259 HOLGUIN 6846 SAN LUIS AVENUE BELL CA 90201 $95,172.22
600086260 HOLGUIN 6842 SAN LUIS AVENUE BELL CA 90201 $97,766.04
600086261 KIMBROUG 950 EAST 118TH DRIV LOS ANGELES CA 90059 $98,561.90
600086263 DUCOUSSO 1538 TAMAR DRIVE PETALUMA CA 94954 $181,440.83
600086264 PETERSON 164 TAO ROAD APPLE VALLEY CA 92307 $204,991.01
600086269 RENNON 4 EL MORRO RANCHO SANTA MA CA 92688 $171,150.85
600086271 ARCA 151 CHETNEY DRIVE WEST COVINA CA 91706 $113,461.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086252 JENSEN 8.375 .250 8.125 .0500 8.075 05/01/2027
600086253 PIERSON 9.000 .250 8.750 .0500 8.700 06/01/2027
600086254 MARCH 8.250 .250 8.000 .0500 7.950 09/01/2027
600086255 SANCHEZ 8.250 .250 8.000 .0500 7.950 09/01/2027
600086256 MIKAELIA 8.500 .250 8.250 .0500 8.200 09/01/2027
600086257 RICKEY 8.250 .250 8.000 .0500 7.950 09/01/2027
600086258 DAVALOS 8.750 .250 8.500 .0500 8.450 10/01/2027
600086259 HOLGUIN 8.625 .250 8.375 .0500 8.325 07/01/2027
600086260 HOLGUIN 8.625 .250 8.375 .0500 8.325 07/01/2027
600086261 KIMBROUG 8.875 .250 8.625 .0500 8.575 04/01/2027
600086263 DUCOUSSO 8.500 .250 8.250 .0500 8.200 06/01/2027
600086264 PETERSON 8.625 .250 8.375 .0500 8.325 07/01/2027
600086269 RENNON 8.750 .250 8.500 .0500 8.450 07/01/2027
600086271 ARCA 8.500 .250 8.250 .0500 8.200 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086252 JENSEN 6213631 $972.90 11/01/1997 360
600086253 PIERSON 6213931 $1,146.59 19 11/01/1997 360
600086254 MARCH 6214242 $1,352.28 11/01/1997 360
600086255 SANCHEZ 6215009 $1,292.18 11/01/1997 360
600086256 MIKAELIA 6215064 $861.19 11/01/1997 360
600086257 RICKEY 6215128 $423.34 11/01/1997 360
600086258 DAVALOS 6221926 $413.02 11/01/1997 360
600086259 HOLGUIN 6222522 $742.02 11/01/1997 360
600086260 HOLGUIN 6222523 $762.24 11/01/1997 360
600086261 KIMBROUG 6224254 $787.69 11/01/1997 360
600086263 DUCOUSSO 6230688 $1,399.43 12 11/01/1997 360
600086264 PETERSON 6231188 $1,633.36 11/01/1997 360
600086269 RENNON 6234664 $1,349.59 11/01/1997 360
600086271 ARCA 6234712 $873.49 11/01/1997 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>
600086252 JENSEN .00 .00 .00 .000 .250 .300 $160,000.00 N
600086253 PIERSON .00 .00 .00 .000 .250 .300 $150,000.00 N
600086254 MARCH .00 .00 .00 .000 .250 .300 $244,000.00 N
600086255 SANCHEZ .00 .00 .00 .000 .250 .300 $215,000.00 N
600086256 MIKAELIA .00 .00 .00 .000 .250 .300 $140,000.00 N
600086257 RICKEY .00 .00 .00 .000 .250 .300 $70,484.00 N
600086258 DAVALOS .00 .00 .00 .000 .250 .300 $70,000.00 N
600086259 HOLGUIN .00 .00 .00 .000 .250 .300 $130,000.00 N
600086260 HOLGUIN .00 .00 .00 .000 .250 .300 $135,000.00 N
600086261 KIMBROUG .00 .00 .00 .000 .250 .300 $143,000.00 N
600086263 DUCOUSSO .00 .00 .00 .000 .250 .300 $192,000.00 N
600086264 PETERSON .00 .00 .00 .000 .250 .300 $280,000.00 N
600086269 RENNON .00 .00 .00 .000 .250 .300 $214,473.00 N
600086271 ARCA .00 .00 .00 .000 .250 .300 $142,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 135
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086272 PERONE 2602 DORAY CIRCLE MONROVIA CA 91016 $121,225.33
600086273 NICHOLS 432 ELYSIAN BOULEVA BIG BEAR CA 92314 $56,069.62
600086277 SMITH 230 EAST MUNOZ STRE QUEEN CREEK AZ 85247 $127,045.33
600086278 ROSE 1505 MONROE STREET SANTA ROSA CA 95404 $127,336.82
600086279 SCOTT 2195 WEST CALIFORNIA FRESNO CA 93706 $111,778.71
600086280 TU 8420 NORTH DEARING A FRESNO CA 93720 $166,900.62
600086283 SMITH 3465 CEDAR LANE LAKE ALMANOR CA 96137 $149,308.67
600086286 DOWNEY 1568 FIFTEENTH STREE LOS OSOS CA 93402 $127,836.18
600086287 CARTER 142 EAST SUNDOWN BO VAIL AZ 85641 $66,257.01
600086289 JOHNSON 475 SOUTH HWY 69 DEWEY AZ 86327 $145,833.94
600086290 FRANCO J 3945 WEST MC FADDEN SANTA ANA CA 92704 $31,445.21
600086293 DE BEVOI 372 EAST BENTON ROA TEMECULA CA 92592 $99,868.72
600086295 MINET 9961 CRISTOBAL DRIVE SPRING VALLEY CA 91977 $115,052.57
600086296 HASHIOKA 414 COMSTOCK LANE BIG BEAR LAKE CA 92315 $71,161.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086272 PERONE 8.875 .250 8.625 .0500 8.575 07/01/2027
600086273 NICHOLS 8.875 .250 8.625 .0500 8.575 07/01/2027
600086277 SMITH 8.500 .250 8.250 .0500 8.200 09/01/2027
600086278 ROSE 8.250 .250 8.000 .0500 7.950 09/01/2027
600086279 SCOTT 8.125 .250 7.875 .0500 7.825 08/01/2027
600086280 TU 8.125 .250 7.875 .0500 7.825 09/01/2027
600086283 SMITH 8.250 .250 8.000 .0500 7.950 09/01/2027
600086286 DOWNEY 8.250 .250 8.000 .0500 7.950 09/01/2027
600086287 CARTER 9.125 .250 8.875 .0500 8.825 07/01/2027
600086289 JOHNSON 8.875 .250 8.625 .0500 8.575 06/01/2027
600086290 FRANCO J 8.750 .250 8.500 .0500 8.450 08/01/2027
600086293 DE BEVOI 8.125 .250 7.875 .0500 7.825 09/01/2027
600086295 MINET 8.250 .250 8.000 .0500 7.950 09/01/2027
600086296 HASHIOKA 8.375 .250 8.125 .0500 8.075 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086272 PERONE 6234960 $967.51 11/01/1997 360
600086273 NICHOLS 6235091 $447.55 11/01/1997 360
600086277 SMITH 6262641 $978.06 11/01/1997 360
600086278 ROSE 6264989 $957.87 11/01/1997 360
600086279 SCOTT 6274928 $831.60 11/01/1997 360
600086280 TU 6274984 $1,240.86 11/01/1997 360
600086283 SMITH 6284660 $1,123.15 11/01/1997 360
600086286 DOWNEY 6285824 $961.63 11/01/1997 360
600086287 CARTER 6297785 $540.26 11/01/1997 360
600086289 JOHNSON 6297923 $1,163.63 11/01/1997 360
600086290 FRANCO J 6299410 $247.82 11/01/1997 360
600086293 DE BEVOI 6310080 $742.50 11/01/1997 360
600086295 MINET 6310205 $865.46 11/01/1997 360
600086296 HASHIOKA 6310254 $541.56 11/01/1997 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>
600086272 PERONE .00 .00 .00 .000 .250 .300 $152,000.00 N
600086273 NICHOLS .00 .00 .00 .000 .250 .300 $75,000.00 N
600086277 SMITH .00 .00 .00 .000 .250 .300 $159,000.00 N
600086278 ROSE .00 .00 .00 .000 .250 .300 $170,000.00 N
600086279 SCOTT .00 .00 .00 .000 .250 .300 $140,000.00 N
600086280 TU .00 .00 .00 .000 .250 .300 $208,900.00 N
600086283 SMITH .00 .00 .00 .000 .250 .300 $230,000.00 N
600086286 DOWNEY .00 .00 .00 .000 .250 .300 $160,000.00 N
600086287 CARTER .00 .00 .00 .000 .250 .300 $83,000.00 N
600086289 JOHNSON .00 .00 .00 .000 .250 .300 $195,000.00 N
600086290 FRANCO J .00 .00 .00 .000 .250 .300 $45,000.00 N
600086293 DE BEVOI .00 .00 .00 .000 .250 .300 $216,500.00 N
600086295 MINET .00 .00 .00 .000 .250 .300 $144,000.00 N
600086296 HASHIOKA .00 .00 .00 .000 .250 .300 $95,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 136
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086297 GARCIA 1226 APACHE AVENUE SANTA FE NM 87505 $104,173.17
600086299 MILNE II 5108 GASLIGHT LANE CULVER CITY CA 90230 $168,689.31
600086300 ARDON 5740 CITRUS AVENUE WHITTIER CA 90601 $39,947.49
600086301 WALSH 3660 LANGLEY STREET SALEM OR 97301 $162,996.41
600086302 YOKOYAMA, CAZ 165 SOUTHWEST WATER BEAVERTON OR 97006 $163,892.72
600086303 BOTGER 2355 NORTHWEST ESTAV CORVALLIS OR 97330 $54,927.79
600086305 WEE SONG 537 WEST SPUR AVENU GILBERT AZ 85233 $77,655.47
600086306 MASON 4409 EAST VOLTAIRE A PHOENIX AZ 85032 $90,639.65
600086307 CUMMINGS 131 MARBLE AVENUE N ALBUQUERQUE NM 87112 $73,456.49
600086308 DAVIDSON 1010 EAST OSBORN ROA PHOENIX AZ 85014 $41,199.84
600086309 JIMENEZ 331 SOUTH CHOLLA ST GILBERT AZ 85233 $49,942.25
600086310 KAISER 516 EAST LODGE DRIV TEMPE AZ 85283 $98,430.16
600086311 HERNANDE 3455 ZIRCON COURT PRESCOTT VALLEY AZ 86314 $50,340.27
600086312 ALEXANDE 4324 EAST STANFORD D PHOENIX AZ 85018 $170,087.54
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086297 GARCIA 8.500 .250 8.250 .0500 8.200 09/01/2027
600086299 MILNE II 8.375 .250 8.125 .0500 8.075 09/01/2027
600086300 ARDON 8.125 .250 7.875 .0500 7.825 09/01/2027
600086301 WALSH 8.375 .250 8.125 .0500 8.075 09/01/2027
600086302 YOKOYAMA, CAZ 8.125 .250 7.875 .0500 7.825 10/01/2027
600086303 BOTGER 8.125 .250 7.875 .0500 7.825 09/01/2027
600086305 WEE SONG 8.500 .250 8.250 .0500 8.200 09/01/2027
600086306 MASON 8.500 .250 8.250 .0500 8.200 09/01/2027
600086307 CUMMINGS 8.500 .250 8.250 .0500 8.200 08/01/2027
600086308 DAVIDSON 8.500 .250 8.250 .0500 8.200 09/01/2027
600086309 JIMENEZ 8.750 .250 8.500 .0500 8.450 09/01/2027
600086310 KAISER 8.500 .250 8.250 .0500 8.200 09/01/2027
600086311 HERNANDE 8.625 .250 8.375 .0500 8.325 09/01/2027
600086312 ALEXANDE 8.375 .250 8.125 .0500 8.075 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086297 GARCIA 6311099 $801.98 11/01/1997 360
600086299 MILNE II 6311374 $1,283.76 11/01/1997 360
600086300 ARDON 6311389 $297.00 11/01/1997 360
600086301 WALSH 6311586 $1,240.44 11/01/1997 360
600086302 YOKOYAMA, CAZ 6311663 $1,217.70 11/01/1997 360
600086303 BOTGER 6311755 $408.38 11/01/1997 360
600086305 WEE SONG 6312128 $597.83 11/01/1997 360
600086306 MASON 6312170 $697.79 11/01/1997 360
600086307 CUMMINGS 6312172 $565.92 11/01/1997 360
600086308 DAVIDSON 6312184 $317.18 11/01/1997 360
600086309 JIMENEZ 6312259 $393.35 11/01/1997 360
600086310 KAISER 6312267 $757.77 12 11/01/1997 360
600086311 HERNANDE 6312282 $392.01 11/01/1997 360
600086312 ALEXANDE 6312331 $1,294.41 11/01/1997 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>
600086297 GARCIA .00 .00 .00 .000 .250 .300 $165,000.00 N
600086299 MILNE II .00 .00 .00 .000 .250 .300 $230,000.00 N
600086300 ARDON .00 .00 .00 .000 .250 .300 $210,000.00 N
600086301 WALSH .00 .00 .00 .000 .250 .300 $204,000.00 N
600086302 YOKOYAMA, CAZ .00 .00 .00 .000 .250 .300 $205,000.00 N
600086303 BOTGER .00 .00 .00 .000 .250 .300 $195,000.00 N
600086305 WEE SONG .00 .00 .00 .000 .250 .300 $111,098.00 N
600086306 MASON .00 .00 .00 .000 .250 .300 $121,000.00 N
600086307 CUMMINGS .00 .00 .00 .000 .250 .300 $92,000.00 N
600086308 DAVIDSON .00 .00 .00 .000 .250 .300 $55,000.00 N
600086309 JIMENEZ .00 .00 .00 .000 .250 .300 $95,000.00 N
600086310 KAISER .00 .00 .00 .000 .250 .300 $109,500.00 N
600086311 HERNANDE .00 .00 .00 .000 .250 .300 $63,000.00 N
600086312 ALEXANDE .00 .00 .00 .000 .250 .300 $212,901.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 137
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086313 QUINN 6085 NORTH BAILEY AV PRESCOTT AZ 86301 $192,782.80
600086314 KIELING 9541 NORTH TOWAGO D PRESCOTT VALLEY AZ 86314 $69,914.88
600086315 FORISH 1660 PLUM ROAD RIO RANCHO NM 87124 $53,531.41
600086316 FERRY 1660 NORTH EL CAMINO TEMPE AZ 85281 $89,491.05
600086321 GREGERSO 424 14TH AVENUE SOU NAMPA ID 83651 $63,763.40
600086322 GREGERSO 212 14TH AVENUE SOU NAMPA ID 83651 $103,777.67
600086323 GREGSON 1605 6TH STREET SOUT NAMPA ID 83651 $87,811.87
600086324 GREGERSO 218 SUGAR AVENUE NAMPA ID 83687 $51,909.61
600086325 GREGERSO 307 307 1/2 16TH AV NAMPA ID 83651 $66,683.84
600086326 GREGERSO 316 11TH AVE SO EXT NAMPA ID 83686 $98,189.65
600086327 GOODWIN 1523 9TH STREET SOUT NAMPA ID 83651 $55,938.59
600086328 GOODWIN 908 16TH AVENUE SOU NAMPA ID 83651 $61,578.80
600086329 KOVAK 11 BULL FROG DRIVE IDAHO CITY ID 83631 $67,833.08
600086330 GREGERSO 423 15TH AVENUE SOU NAMPA ID 83651 $135,846.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086313 QUINN 8.875 .250 8.625 .0500 8.575 09/01/2027
600086314 KIELING 8.500 .250 8.250 .0500 8.200 09/01/2027
600086315 FORISH 8.250 .250 8.000 .0500 7.950 09/01/2027
600086316 FERRY 8.500 .250 8.250 .0500 8.200 09/01/2027
600086321 GREGERSO 8.750 .250 8.500 .0500 8.450 08/01/2027
600086322 GREGERSO 8.750 .250 8.500 .0500 8.450 08/01/2027
600086323 GREGSON 8.750 .250 8.500 .0500 8.450 08/01/2027
600086324 GREGERSO 8.750 .250 8.500 .0500 8.450 08/01/2027
600086325 GREGERSO 8.750 .250 8.500 .0500 8.450 08/01/2027
600086326 GREGERSO 8.750 .250 8.500 .0500 8.450 08/01/2027
600086327 GOODWIN 9.000 .250 8.750 .0500 8.700 09/01/2027
600086328 GOODWIN 8.750 .250 8.500 .0500 8.450 09/01/2027
600086329 KOVAK 8.250 .250 8.000 .0500 7.950 09/01/2027
600086330 GREGERSO 8.875 .250 8.625 .0500 8.575 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086313 QUINN 6312382 $1,535.60 11/01/1997 360
600086314 KIELING 6312460 $538.24 11/01/1997 360
600086315 FORISH 6312494 $402.68 11/01/1997 360
600086316 FERRY 6312527 $688.95 11/01/1997 360
600086321 GREGERSO 7054040 $502.70 2 11/01/1997 360
600086322 GREGERSO 7057040 $818.17 11/01/1997 360
600086323 GREGSON 7057340 $692.30 11/01/1997 360
600086324 GREGERSO 7058540 $409.08 11/01/1997 360
600086325 GREGERSO 7058640 $525.52 11/01/1997 360
600086326 GREGERSO 7058740 $774.11 11/01/1997 360
600086327 GOODWIN 7061140 $450.59 11/01/1997 360
600086328 GOODWIN 7063540 $485.00 12 11/01/1997 360
600086329 KOVAK 7064240 $510.26 11/01/1997 360
600086330 GREGERSO 7065940 $1,082.08 11/01/1997 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>
600086313 QUINN .00 .00 .00 .000 .250 .300 $311,000.00 N
600086314 KIELING .00 .00 .00 .000 .250 .300 $90,000.00 N
600086315 FORISH .00 .00 .00 .000 .250 .300 $67,000.00 N
600086316 FERRY .00 .00 .00 .000 .250 .300 $112,000.00 N
600086321 GREGERSO .00 .00 .00 .000 .250 .300 $71,000.00 N
600086322 GREGERSO .00 .00 .00 .000 .250 .300 $130,000.00 N
600086323 GREGSON .00 .00 .00 .000 .250 .300 $115,000.00 N
600086324 GREGERSO .00 .00 .00 .000 .250 .300 $65,000.00 N
600086325 GREGERSO .00 .00 .00 .000 .250 .300 $83,500.00 N
600086326 GREGERSO .00 .00 .00 .000 .250 .300 $123,000.00 N
600086327 GOODWIN .00 .00 .00 .000 .250 .300 $70,000.00 N
600086328 GOODWIN .00 .00 .00 .000 .250 .300 $72,000.00 N
600086329 KOVAK .00 .00 .00 .000 .250 .300 $84,900.00 N
600086330 GREGERSO .00 .00 .00 .000 .250 .300 $170,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 138
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086331 ADAMS 2734 WEST 4375 SOUTH ROY UT 84067 $116,097.40
600086332 MOUQIAN 1626 EAST AMBLEWOOD SALT LAKE CITY UT 84124 $143,071.31
600086334 CARMACK 481 EAST 550 SOUTH BOUNTIFUL UT 84010 $122,239.32
600086335 WEBB 7855 WINDWARD ROAD LAS VEGAS NV 89117 $128,697.31
600086336 TURNER 3527 CITRUS CEDAR WA NORTH LAS VEGAS NV 89030 $69,923.23
600086337 FITZWATE 3425 E RUSSELL ROAD LAS VEGAS NV 89120 $35,358.05
600086338 ROBERTS 7811 SOUTH CHADBOURN SALT LAKE CITY UT 84121 $154,226.24
600086340 VANDONGE 1855 EAST 4650 SOUTH SALT LAKE CITY UT 84117 $107,878.45
600086357 Harry E Santee 5250 East Idlewood Lane Flagstaff AZ 86004 $139,639.19
600086366 Andrew Craig 207 Indiana Street Union NJ 7083 $168,464.08
600086375 Francis Elaine Norris 4967 Chippewa Trail Las Cruces NM 88011 $195,443.11
600086377 Merle L. Tyler 2761 Wingate Street Eugene OR 97408 $173,211.05
600086386 Raymond W Coak 1317 South Beeler Street Denver CO 80231 $117,177.91
600086396 Simon S Gutman 2147 Coney Island Avenue Brooklyn NY 11223 $206,023.85
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086331 ADAMS 8.125 .250 7.875 .0500 7.825 09/01/2027
600086332 MOUQIAN 8.375 .250 8.125 .0500 8.075 09/01/2027
600086334 CARMACK 8.125 .250 7.875 .0500 7.825 09/01/2027
600086335 WEBB 8.625 .250 8.375 .0500 8.325 09/01/2027
600086336 TURNER 9.000 .250 8.750 .0500 8.700 09/01/2027
600086337 FITZWATE 8.625 .250 8.375 .0500 8.325 09/01/2027
600086338 ROBERTS 8.875 .250 8.625 .0500 8.575 09/01/2027
600086340 VANDONGE 8.875 .250 8.625 .0500 8.575 09/01/2027
600086357 Harry E Santee 8.250 .250 8.000 .0400 7.960 07/01/2027
600086366 Andrew Craig 8.875 .250 8.625 .0400 8.585 08/01/2027
600086375 Francis Elaine Norris 8.625 .250 8.375 .0400 8.335 09/01/2027
600086377 Merle L. Tyler 7.500 .250 7.250 .0400 7.210 08/01/2027
600086386 Raymond W Coak 9.250 .250 9.000 .0400 8.960 09/01/2027
600086396 Simon S Gutman 9.000 .250 8.750 .0400 8.710 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086331 ADAMS 7124388 $863.15 11/01/1997 360
600086332 MOUQIAN 7138509 $1,088.80 11/01/1997 360
600086334 CARMACK 7384513 $908.82 11/01/1997 360
600086335 WEBB 7428120 $1,002.18 11/01/1997 360
600086336 TURNER 7438620 $563.24 11/01/1997 360
600086337 FITZWATE 7442820 $275.34 11/01/1997 360
600086338 ROBERTS 7559812 $1,228.48 11/01/1997 360
600086340 VANDONGE 7663919 $859.30 2 11/01/1997 360
600086357 Harry E Santee 248627 $1,051.78 11/01/1997 360
600086366 Andrew Craig 256149 $1,342.65 11/01/1997 360
600086375 Francis Elaine Norris 259350 $1,521.94 11/01/1997 360
600086377 Merle L. Tyler 259783 $1,213.84 11/01/1997 360
600086386 Raymond W Coak 263828 $965.00 19 11/01/1997 360
600086396 Simon S Gutman 266317 $1,659.53 11/01/1997 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>
600086331 ADAMS .00 .00 .00 .000 .250 .300 $155,000.00 N
600086332 MOUQIAN .00 .00 .00 .000 .250 .300 $191,000.00 N
600086334 CARMACK .00 .00 .00 .000 .250 .300 $153,000.00 N
600086335 WEBB .00 .00 .00 .000 .250 .300 $161,100.00 N
600086336 TURNER .00 .00 .00 .000 .250 .300 $89,900.00 N
600086337 FITZWATE .00 .00 .00 .000 .250 .300 $85,400.00 N
600086338 ROBERTS .00 .00 .00 .000 .250 .300 $193,500.00 N
600086340 VANDONGE .00 .00 .00 .000 .250 .300 $120,000.00 N
600086357 Harry E Santee .00 .00 .00 .000 .250 .290 $190,000.00 N
600086366 Andrew Craig .00 .00 .00 .000 .250 .290 $225,000.00 N
600086375 Francis Elaine Norris .00 .00 .00 .000 .250 .290 $260,900.00 N
600086377 Merle L. Tyler .00 .00 .00 .000 .250 .290 $217,000.00 N
600086386 Raymond W Coak .00 .00 .00 .000 .250 .290 $130,363.00 N
600086396 Simon S Gutman .00 .00 .00 .000 .250 .290 $275,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 139
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600086398 Jacques A. Gourguechon 2133 Saddleridge Loop Sui Avon CO 81620 $189,896.22
600086401 James Pyle 2002 28th Avenue Greeley CO 80631 $191,886.64
600086406 Thomas F. Ury 800 Four O' Clock Rd.,2Fb Breckenridge CO 80424 $189,875.72
600088381 FREEMAN 505 N LAKE SHORE DRIV CHICAGO IL 60611 $163,571.65
600088383 EASTER 768 BELLEVUE AVENUE SPRINGFIELD OH 45503 $44,942.42
600088385 FUDULOV 678 TALLGRASS LANE LAKE VILLA IL 60046 $113,519.83
600088386 SOMMERS 810 E LAKESHORE DR BARRINGTON IL 60010 $178,782.35
600088388 HAWTHORN 1883 NW SHORE TERRACE STUART FL 34994 $113,532.93
600088389 COLBY JR 532 SAINT ALBANS WAY RICHMOND VA 23229 $191,741.48
600088390 NEWCOMBE 5944 SENTINEL DRIVE RALEIGH NC 27615 $101,130.01
600088392 GREENWOO 658 JEFFERSON STREET SHAKOPEE MN 55379 $75,047.62
600088393 BUTLER 39377 HWY 6 AVON CO 81620 $64,916.83
600088394 KAZLAUKS 16636 HUNTER TRAIL TINLEY PARK IL 60477 $177,772.22
600088395 CLOPTON 7288 SANNER ROAD CLARKSVILLE MD 21029 $144,605.04
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600086398 Jacques A. Gourguechon 9.000 .250 8.750 .0400 8.710 10/01/2027
600086401 James Pyle 8.625 .250 8.375 .0400 8.335 10/01/2027
600086406 Thomas F. Ury 8.125 .250 7.875 .0400 7.835 10/01/2027
600088381 FREEMAN 9.000 .250 8.750 .0500 8.700 07/01/2027
600088383 EASTER 8.250 .250 8.000 .0500 7.950 09/01/2027
600088385 FUDULOV 7.750 .250 7.500 .0500 7.450 10/01/2027
600088386 SOMMERS 8.500 .250 8.250 .0500 8.200 09/01/2027
600088388 HAWTHORN 8.625 .250 8.375 .0500 8.325 10/01/2027
600088389 COLBY JR 8.000 .250 7.750 .0500 7.700 09/01/2027
600088390 NEWCOMBE 8.625 .250 8.375 .0500 8.325 09/01/2027
600088392 GREENWOO 8.000 .250 7.750 .0500 7.700 08/01/2027
600088393 BUTLER 8.250 .250 8.000 .0500 7.950 09/01/2027
600088394 KAZLAUKS 8.250 .250 8.000 .0500 7.950 09/01/2027
600088395 CLOPTON 8.000 .250 7.750 .0500 7.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600086398 Jacques A. Gourguechon 266794 $1,528.78 11/01/1997 360
600086401 James Pyle 267864 $1,493.36 11/01/1997 360
600086406 Thomas F. Ury 273091 $1,410.74 11/01/1997 360
600088381 FREEMAN 0923637 $1,319.58 11/01/1997 360
600088383 EASTER 0927277 $338.07 11/01/1997 360
600088385 FUDULOV 0931723 $813.84 11/01/1997 360
600088386 SOMMERS 0931940 $1,376.36 11/01/1997 360
600088388 HAWTHORN 0932640 $883.57 11/01/1997 360
600088389 COLBY JR 0932739 $1,408.83 11/01/1997 360
600088390 NEWCOMBE 0935245 $787.51 11/01/1997 360
600088392 GREENWOO 0936233 $551.79 11/01/1997 360
600088393 BUTLER 0936418 $488.32 11/01/1997 360
600088394 KAZLAUKS 0936513 $1,337.25 11/01/1997 360
600088395 CLOPTON 0936725 $1,062.49 11/01/1997 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>
600086398 Jacques A. Gourguechon .00 .00 .00 .000 .250 .290 $237,500.00 N
600086401 James Pyle .00 .00 .00 .000 .250 .290 $302,000.00 N
600086406 Thomas F. Ury .00 .00 .00 .000 .250 .290 $260,000.00 N
600088381 FREEMAN .00 .00 .00 .000 .250 .300 $205,000.00 N
600088383 EASTER .00 .00 .00 .000 .250 .300 $60,000.00 N
600088385 FUDULOV .00 .00 .00 .000 .250 .300 $163,370.00 N
600088386 SOMMERS .00 .00 .00 .000 .250 .300 $247,000.00 N
600088388 HAWTHORN .00 .00 .00 .000 .250 .300 $142,000.00 N
600088389 COLBY JR .00 .00 .00 .000 .250 .300 $240,000.00 N
600088390 NEWCOMBE .00 .00 .00 .000 .250 .300 $135,000.00 N
600088392 GREENWOO .00 .00 .00 .000 .250 .300 $94,000.00 N
600088393 BUTLER .00 .00 .00 .000 .250 .300 $190,000.00 N
600088394 KAZLAUKS .00 .00 .00 .000 .250 .300 $246,000.00 N
600088395 CLOPTON .00 .00 .00 .000 .250 .300 $181,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 140
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088396 DEMAY 100 LONG AVE SCHAUMBURG IL 60193 $194,756.75
600088397 TOOLE 3111 LUPINE RD RICHMOND VA 23228 $82,451.29
600088398 ETHRIDGE 1352 MIAMI RD BENTON HARBOR MI 49022 $99,881.50
600088399 QUINTON 20304 NATIONAL DRIVE LAGO VISTA TX 78645 $98,563.71
600088400 WELLS 4225 SPRING LAKE DRIVE LAKE IN THE HIL IL 60102 $89,470.98
600088401 PODJASEK 2366 COUNTY FARM SCHAUMBURG IL 60194 $124,840.05
600088402 CHRISTOD 4927 FAIRVIEW LN SKOKIE IL 60077 $188,129.96
600088403 KUDA 428 ILLINOIS ST CARPENTERSVILLE IL 60110 $108,595.70
600088404 ACKERMAN 8548 W SUNNYSIDE AVE CHICAGO IL 60656 $109,851.89
600088405 NGUYEN 161 WINDSOR CASTLE DR NEWPORT NEWS VA 23608 $57,622.32
600088406 LEVITZ 10120 ANDORA DRIVE AUSTIN TX 78717 $124,833.76
600088407 LOPEZ 612 BURCHFIELD AVENUE DALTON GA 30721 $43,945.11
600088408 FOSTER 5235 HYDE RD CUMMING GA 30130 $96,862.64
600088409 RICHES 2749 COUNTRYSIDE BLVD CLEARWATER FL 33761 $53,124.59
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088396 DEMAY 8.375 .250 8.125 .0500 8.075 09/01/2027
600088397 TOOLE 8.625 .250 8.375 .0500 8.325 10/01/2027
600088398 ETHRIDGE 8.625 .250 8.375 .0500 8.325 09/01/2027
600088399 QUINTON 7.875 .250 7.625 .0500 7.575 09/01/2027
600088400 WELLS 8.500 .250 8.250 .0500 8.200 09/01/2027
600088401 PODJASEK 8.250 .250 8.000 .0500 7.950 09/01/2027
600088402 CHRISTOD 8.250 .250 8.000 .0500 7.950 10/01/2027
600088403 KUDA 8.375 .250 8.125 .0500 8.075 08/01/2027
600088404 ACKERMAN 8.000 .250 7.750 .0500 7.700 09/01/2027
600088405 NGUYEN 8.000 .250 7.750 .0500 7.700 09/01/2027
600088406 LEVITZ 8.125 .250 7.875 .0500 7.825 09/01/2027
600088407 LOPEZ 8.375 .250 8.125 .0500 8.075 09/01/2027
600088408 FOSTER 7.750 .250 7.500 .0500 7.450 09/01/2027
600088409 RICHES 7.875 .250 7.625 .0500 7.575 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600088396 DEMAY 0937083 $1,482.14 11/01/1997 360
600088397 TOOLE 0937525 $641.68 11/01/1997 360
600088398 ETHRIDGE 0937893 $777.79 11/01/1997 360
600088399 QUINTON 0938314 $715.64 11/01/1997 360
600088400 WELLS 0938342 $688.95 11/01/1997 360
600088401 PODJASEK 0938345 $939.08 11/01/1997 360
600088402 CHRISTOD 0938399 $1,414.26 11/01/1997 360
600088403 KUDA 0938408 $826.96 11/01/1997 360
600088404 ACKERMAN 0938484 $807.14 11/01/1997 360
600088405 NGUYEN 0939072 $423.38 11/01/1997 360
600088406 LEVITZ 0939320 $928.12 11/01/1997 360
600088407 LOPEZ 0939703 $334.43 11/01/1997 360
600088408 FOSTER 0939755 $694.92 11/01/1997 360
600088409 RICHES 0939759 $385.74 11/01/1997 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>
600088396 DEMAY .00 .00 .00 .000 .250 .300 $260,000.00 N
600088397 TOOLE .00 .00 .00 .000 .250 .300 $110,000.00 N
600088398 ETHRIDGE .00 .00 .00 .000 .250 .300 $189,000.00 N
600088399 QUINTON .00 .00 .00 .000 .250 .300 $131,600.00 N
600088400 WELLS .00 .00 .00 .000 .250 .300 $112,000.00 N
600088401 PODJASEK .00 .00 .00 .000 .250 .300 $163,000.00 N
600088402 CHRISTOD .00 .00 .00 .000 .250 .300 $260,000.00 N
600088403 KUDA .00 .00 .00 .000 .250 .300 $137,800.00 N
600088404 ACKERMAN .00 .00 .00 .000 .250 .300 $222,000.00 N
600088405 NGUYEN .00 .00 .00 .000 .250 .300 $77,000.00 N
600088406 LEVITZ .00 .00 .00 .000 .250 .300 $167,700.00 N
600088407 LOPEZ .00 .00 .00 .000 .250 .300 $70,800.00 N
600088408 FOSTER .00 .00 .00 .000 .250 .300 $127,000.00 N
600088409 RICHES .00 .00 .00 .000 .250 .300 $66,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 141
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088410 GOODWIN 1550 WORCESTER ROAD FRAMINGHAM MA 1701 $119,825.75
600088411 MANVILLE 3637 MURPHY LANE CLIFFORD MI 48727 $54,968.35
600088412 CAUDERLI 1113 COLLINGWOOD RD ALEXANDRIA VA 22308 $150,795.13
600088413 SPALDING 2302 BRIARGROVE CT RICHMOND VA 23233 $91,939.82
600088414 TAYLOR J 123 TARRYTOWN TRAIL LONGWOOD FL 32750 $140,061.17
600088415 GERACE 3548 SEMINOLE ROAD FT PIERCE FL 34951 $86,879.86
600088416 LOPES 673 PHILADLEPHIA AVE CHAMBERSBURG PA 17201 $107,854.58
600088417 COMBS 14117 79TH COURT NORTH LOXAHATCHEE FL 33470 $66,710.60
600088418 HUNG 31 MONTEVALE AVENUE WOBURN MA 1801 $47,672.55
600088419 BROWDER 900 BROOK FOREST ROAD EDMOND OK 73034 $174,776.05
600088420 MCLAUGHL RT1 BOX 104-A RIO RAN HARLINGEN TX 78552 $163,889.96
600088421 KOEHLER 221 SALEM CT SLEEY HOLLOW IL 60118 $202,257.15
600088422 ALVAREZ 3216 KINLOCK COURT PLANO TX 75074 $131,431.58
600088423 MCDOWELL 108 N GLENDALE BARRINGTON IL 60010 $190,767.78
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088410 GOODWIN 7.625 .250 7.375 .0500 7.325 09/01/2027
600088411 MANVILLE 8.750 .250 8.500 .0500 8.450 10/01/2027
600088412 CAUDERLI 7.500 .250 7.250 .0500 7.200 09/01/2027
600088413 SPALDING 8.125 .250 7.875 .0500 7.825 10/01/2027
600088414 TAYLOR J 8.000 .250 7.750 .0500 7.700 09/01/2027
600088415 GERACE 7.875 .250 7.625 .0500 7.575 09/01/2027
600088416 LOPES 8.000 .250 7.750 .0500 7.700 09/01/2027
600088417 COMBS 8.625 .250 8.375 .0500 8.325 10/01/2027
600088418 HUNG 8.750 .250 8.500 .0500 8.450 10/01/2027
600088419 BROWDER 8.250 .250 8.000 .0500 7.950 09/01/2027
600088420 MCLAUGHL 8.000 .250 7.750 .0500 7.700 10/01/2027
600088421 KOEHLER 7.750 .250 7.500 .0500 7.450 10/01/2027
600088422 ALVAREZ 8.250 .250 8.000 .0500 7.950 09/01/2027
600088423 MCDOWELL 8.500 .250 8.250 .0500 8.200 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600088410 GOODWIN 0939788 $849.35 11/01/1997 360
600088411 MANVILLE 0940211 $432.69 11/01/1997 360
600088412 CAUDERLI 0940281 $1,055.96 11/01/1997 360
600088413 SPALDING 0940300 $683.10 11/01/1997 360
600088414 TAYLOR J 0940636 $1,029.10 11/01/1997 360
600088415 GERACE 0940638 $630.81 11/01/1997 360
600088416 LOPES 0940752 $792.47 11/01/1997 360
600088417 COMBS 0940760 $519.17 11/01/1997 360
600088418 HUNG 0940845 $375.26 12 11/01/1997 360
600088419 BROWDER 0940927 $1,314.72 11/01/1997 360
600088420 MCLAUGHL 0941082 $1,203.37 11/01/1997 360
600088421 KOEHLER 0941106 $1,450.02 11/01/1997 360
600088422 ALVAREZ 0941146 $988.67 11/01/1997 360
600088423 MCDOWELL 0941168 $1,468.62 11/01/1997 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>
600088410 GOODWIN .00 .00 .00 .000 .250 .300 $151,000.00 N
600088411 MANVILLE .00 .00 .00 .000 .250 .300 $152,000.00 N
600088412 CAUDERLI .00 .00 .00 .000 .250 .300 $189,000.00 N
600088413 SPALDING .00 .00 .00 .000 .250 .300 $133,000.00 N
600088414 TAYLOR J .00 .00 .00 .000 .250 .300 $187,000.00 N
600088415 GERACE .00 .00 .00 .000 .250 .300 $150,000.00 N
600088416 LOPES .00 .00 .00 .000 .250 .300 $135,600.00 N
600088417 COMBS .00 .00 .00 .000 .250 .300 $89,000.00 N
600088418 HUNG .00 .00 .00 .000 .250 .300 $53,000.00 N
600088419 BROWDER .00 .00 .00 .000 .250 .300 $235,000.00 N
600088420 MCLAUGHL .00 .00 .00 .000 .250 .300 $205,000.00 N
600088421 KOEHLER .00 .00 .00 .000 .250 .300 $269,900.00 N
600088422 ALVAREZ .00 .00 .00 .000 .250 .300 $164,500.00 N
600088423 MCDOWELL .00 .00 .00 .000 .250 .300 $325,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 142
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088425 NGUYEN 6108 STEVENS FOREST RD COLUMBIA MD 21045 $106,273.91
600088427 FREEMAN 88 WEST MAIN STREET MILAN MI 48160 $76,257.22
600088428 MEADOWS 145 VALLEY STREET BALLGROUND GA 30107 $27,506.51
600088429 WOODHAMS 1382 WEST B AVENUE PLAINWELL MI 49080 $56,667.38
600088430 CLASRKE 768 WESTMINSTER LN VIRGINIA BEACH VA 23454 $59,928.90
600088431 BUI 7151 DEGROFF CT ANNANDALE VA 22003 $194,762.44
600088432 MCSWAIN 694 PALLISTER DETROIT MI 48202 $103,863.48
600088433 TROMBLEY 220 WEST 16TH STREET HOLLAND MI 49423 $49,470.77
600088434 HOLT 8719 PARRY LANE ALEXANDRIA VA 22308 $190,661.91
600088435 PURDY 658 WASHINGTON BLVD OAK PARK IL 60302 $39,543.92
600088436 RUMBAUGH 10221 STARLIGHT WAY LOUISVILLE KY 40272 $63,961.23
600088437 SANSONE 20490 LOWRY DRIVE FAIRHOPE AL 36532 $69,956.49
600088438 YORK 4065 LAKE DRIVE LOGAN VILLE GA 30249 $125,823.73
600088439 HARTLEY 304 WICKLOW COVE BRANDON MS 39042 $106,852.25
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088425 NGUYEN 8.625 .250 8.375 .0500 8.325 09/01/2027
600088427 FREEMAN 8.875 .250 8.625 .0500 8.575 10/01/2027
600088428 MEADOWS 8.500 .250 8.250 .0500 8.200 09/01/2027
600088429 WOODHAMS 8.750 .250 8.500 .0500 8.450 10/01/2027
600088430 CLASRKE 8.625 .250 8.375 .0500 8.325 09/01/2027
600088431 BUI 7.750 .250 7.500 .0500 7.450 10/01/2027
600088432 MCSWAIN 8.125 .250 7.875 .0500 7.825 09/01/2027
600088433 TROMBLEY 8.625 .250 8.375 .0500 8.325 10/01/2027
600088434 HOLT 7.625 .250 7.375 .0500 7.325 10/01/2027
600088435 PURDY 7.750 .250 7.500 .0500 7.450 09/01/2027
600088436 RUMBAUGH 8.500 .250 8.250 .0500 8.200 10/01/2027
600088437 SANSONE 8.375 .250 8.125 .0500 8.075 10/01/2027
600088438 YORK 8.500 .250 8.250 .0500 8.200 10/01/2027
600088439 HARTLEY 7.875 .250 7.625 .0500 7.575 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600088425 NGUYEN 0941495 $827.57 11/01/1997 360
600088427 FREEMAN 0941502 $607.08 11/01/1997 360
600088428 MEADOWS 0941574 $211.76 18 11/01/1997 360
600088429 WOODHAMS 0941721 $446.06 12 11/01/1997 360
600088430 CLASRKE 0941803 $466.67 11/01/1997 360
600088431 BUI 0941814 $1,396.29 11/01/1997 360
600088432 MCSWAIN 0941883 $772.20 11/01/1997 360
600088433 TROMBLEY 0942034 $385.01 11/01/1997 360
600088434 HOLT 0942147 $1,350.47 11/01/1997 360
600088435 PURDY 0942359 $283.70 11/01/1997 360
600088436 RUMBAUGH 0942446 $492.10 11/01/1997 360
600088437 SANSONE 0942479 $532.05 11/01/1997 360
600088438 YORK 0942482 $968.06 12 11/01/1997 360
600088439 HARTLEY 0942561 $775.82 11/01/1997 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>
600088425 NGUYEN .00 .00 .00 .000 .250 .300 $133,000.00 N
600088427 FREEMAN .00 .00 .00 .000 .250 .300 $109,000.00 N
600088428 MEADOWS .00 .00 .00 .000 .250 .300 $30,600.00 N
600088429 WOODHAMS .00 .00 .00 .000 .250 .300 $63,000.00 N
600088430 CLASRKE .00 .00 .00 .000 .250 .300 $81,000.00 N
600088431 BUI .00 .00 .00 .000 .250 .300 $244,900.00 N
600088432 MCSWAIN .00 .00 .00 .000 .250 .300 $130,000.00 N
600088433 TROMBLEY .00 .00 .00 .000 .250 .300 $75,000.00 N
600088434 HOLT .00 .00 .00 .000 .250 .300 $238,500.00 N
600088435 PURDY .00 .00 .00 .000 .250 .300 $49,500.00 N
600088436 RUMBAUGH .00 .00 .00 .000 .250 .300 $93,000.00 N
600088437 SANSONE .00 .00 .00 .000 .250 .300 $153,000.00 N
600088438 YORK .00 .00 .00 .000 .250 .300 $139,900.00 N
600088439 HARTLEY .00 .00 .00 .000 .250 .300 $134,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 143
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088440 BARTA 1169 CLAY'S TRAIL HUDSON FL 34667 $94,375.95
600088441 REYNOLDS 9279 LAKEVIEW DRIVE FOLEY AL 36535 $71,955.25
600088442 MURRAY 6510 PEBBLE DRIVE PENSACOLA FL 32507 $45,852.22
600088443 CASTLEBE 5411 MILL RUN DRIVE MARIETTA GA 30068 $146,802.08
600088444 MILLS 1996 NW FORK RD STUART FL 34994 $179,882.26
600088446 NICOLETT 947 ROYAL PALM BEACH ROYAL PALM BEAC FL 33411 $52,118.20
600088448 GANOE ROUTE 3 OLD FURNANCE RIDGELEY WV 26753 $87,696.84
600088449 RISSMANE 24 VIA DE CASAS CIRC BOYNTON BEACH FL 33426 $44,172.53
600088451 GOLDFARB 17552 FAIRLAWN DR CHAGRIN FALLS OH 44023 $103,437.30
600088452 HONOLD 2114 KIRCHOFF ROAD ROLLING MEADOWS IL 60008 $91,376.81
600088453 NIEMER 12215 MEADOW CREST COUR STAFFORD TX 77477 $114,645.43
600088454 NICHOLS 112 CARRIAGE WAY DRIV BURR RIDGE IL 60521 $96,951.77
600088457 HANSON 10600 RIVER TERRACE BLOOMINGTON MN 55431 $82,793.91
600088458 ZORRILLA 1119 TANGLEWOOD DRIVE EDINBURG TX 78539 $61,167.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088440 BARTA 8.125 .250 7.875 .0500 7.825 09/01/2027
600088441 REYNOLDS 8.375 .250 8.125 .0500 8.075 10/01/2027
600088442 MURRAY 9.250 .250 9.000 .0500 8.950 09/01/2027
600088443 CASTLEBE 8.000 .250 7.750 .0500 7.700 09/01/2027
600088444 MILLS 8.125 .250 7.875 .0500 7.825 10/01/2027
600088446 NICOLETT 8.500 .250 8.250 .0500 8.200 10/01/2027
600088448 GANOE 8.500 .250 8.250 .0500 8.200 10/01/2027
600088449 RISSMANE 8.375 .250 8.125 .0500 8.075 10/01/2027
600088451 GOLDFARB 8.500 .250 8.250 .0500 8.200 10/01/2027
600088452 HONOLD 8.000 .250 7.750 .0500 7.700 09/01/2027
600088453 NIEMER 8.000 .250 7.750 .0500 7.700 09/01/2027
600088454 NICHOLS 7.375 .250 7.125 .0500 7.075 09/01/2027
600088457 HANSON 8.250 .250 8.000 .0500 7.950 09/01/2027
600088458 ZORRILLA 9.125 .250 8.875 .0500 8.825 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600088440 BARTA 0942616 $701.66 11/01/1997 360
600088441 REYNOLDS 0942641 $547.25 11/01/1997 360
600088442 MURRAY 0942764 $377.61 12 11/01/1997 360
600088443 CASTLEBE 0942788 $1,078.63 11/01/1997 360
600088444 MILLS 0942838 $1,336.49 11/01/1997 360
600088446 NICOLETT 0943100 $403.68 11/01/1997 360
600088448 GANOE 0943122 $674.72 11/01/1997 360
600088449 RISSMANE 0943143 $335.95 11/01/1997 360
600088451 GOLDFARB 0943496 $795.83 11/01/1997 360
600088452 HONOLD 0943674 $671.39 11/01/1997 360
600088453 NIEMER 0943683 $842.36 11/01/1997 360
600088454 NICHOLS 0943843 $670.65 11/01/1997 360
600088457 HANSON 0943869 $622.80 11/01/1997 360
600088458 ZORRILLA 0943886 $497.94 12 11/01/1997 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>
600088440 BARTA .00 .00 .00 .000 .250 .300 $126,000.00 N
600088441 REYNOLDS .00 .00 .00 .000 .250 .300 $185,000.00 N
600088442 MURRAY .00 .00 .00 .000 .250 .300 $51,000.00 N
600088443 CASTLEBE .00 .00 .00 .000 .250 .300 $220,000.00 N
600088444 MILLS .00 .00 .00 .000 .250 .300 $274,000.00 N
600088446 NICOLETT .00 .00 .00 .000 .250 .300 $70,000.00 N
600088448 GANOE .00 .00 .00 .000 .250 .300 $117,000.00 N
600088449 RISSMANE .00 .00 .00 .000 .250 .300 $55,250.00 N
600088451 GOLDFARB .00 .00 .00 .000 .250 .300 $138,000.00 N
600088452 HONOLD .00 .00 .00 .000 .250 .300 $130,000.00 N
600088453 NIEMER .00 .00 .00 .000 .250 .300 $143,500.00 N
600088454 NICHOLS .00 .00 .00 .000 .250 .300 $129,500.00 N
600088457 HANSON .00 .00 .00 .000 .250 .300 $131,000.00 N
600088458 ZORRILLA .00 .00 .00 .000 .250 .300 $68,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 144
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088459 PACE 700 KENSINGTON WAY BOLINGBROOK IL 60440 $109,869.65
600088461 WILLIAMS 408 S HAVER HARTFORD MI 49064 $41,576.06
600088462 CAMERON 5353 SUNNYCREST WEST BLOOMFIELD MI 48323 $168,544.80
600088463 MURRAY 617 MILLER DRIVE BUMPASS VA 23024 $61,457.67
600088464 WILLIAMS 291 ADAMSON DRIVE GAHANNA OH 43230 $126,317.31
600088465 STROUD 3496 STOKEY CT COLUMBUS OH 43230 $68,558.45
600088466 SAWYER 7390 NORTH WEST BAY SH NORTHPORT MI 49670 $199,862.36
600088467 COMPTON 7140 STATE ROUTE 762 ORIENT OH 43146 $123,920.93
600088468 WILLHITE 14211 SUMMERFIELD DRIVE MEW LENOX IL 60451 $213,696.95
600088469 ZULPO 305 SOUTH WATER STREE BATAVIA IL 60510 $151,828.95
600088470 CAMPBELL 10302 BARWOOD DRIVE HOUSTON TX 77043 $63,961.23
600088471 MAJZAB 2839 W LAWRENCE AVE CHICAGO IL 60625 $41,224.36
600088473 GONZALEZ 3212 GREGG LANE MANOR TX 78653 $87,946.69
600088474 DEDENBAC 9636 PARKWAY GROSSE ILE MI 48138 $141,511.99
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088459 PACE 8.625 .250 8.375 .0500 8.325 09/01/2027
600088461 WILLIAMS 8.750 .250 8.500 .0500 8.450 10/01/2027
600088462 CAMERON 8.500 .250 8.250 .0500 8.200 09/01/2027
600088463 MURRAY 7.875 .250 7.625 .0500 7.575 10/01/2027
600088464 WILLIAMS 8.125 .250 7.875 .0500 7.825 10/01/2027
600088465 STROUD 8.500 .250 8.250 .0500 8.200 10/01/2027
600088466 SAWYER 7.875 .250 7.625 .0500 7.575 10/01/2027
600088467 COMPTON 8.250 .250 8.000 .0500 7.950 10/01/2027
600088468 WILLHITE 7.750 .250 7.500 .0500 7.450 09/01/2027
600088469 ZULPO 8.875 .250 8.625 .0500 8.575 09/01/2027
600088470 CAMPBELL 8.500 .250 8.250 .0500 8.200 10/01/2027
600088471 MAJZAB 8.375 .250 8.125 .0500 8.075 10/01/2027
600088473 GONZALEZ 8.500 .250 8.250 .0500 8.200 10/01/2027
600088474 DEDENBAC 8.375 .250 8.125 .0500 8.075 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600088459 PACE 0943946 $855.57 11/01/1997 360
600088461 WILLIAMS 0944156 $327.27 12 11/01/1997 360
600088462 CAMERON 0944507 $1,297.55 11/01/1997 360
600088463 MURRAY 0944509 $445.92 11/01/1997 360
600088464 WILLIAMS 0944601 $938.52 11/01/1997 360
600088465 STROUD 0944641 $527.47 11/01/1997 360
600088466 SAWYER 0944758 $1,450.14 11/01/1997 360
600088467 COMPTON 0944832 $931.57 11/01/1997 360
600088468 WILLHITE 0945114 $1,533.12 11/01/1997 360
600088469 ZULPO 0945266 $1,209.38 11/01/1997 360
600088470 CAMPBELL 0945320 $492.10 11/01/1997 360
600088471 MAJZAB 0945435 $313.53 11/01/1997 360
600088473 GONZALEZ 0945482 $676.64 11/01/1997 360
600088474 DEDENBAC 0945535 $1,076.26 11/01/1997 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>
600088459 PACE .00 .00 .00 .000 .250 .300 $162,000.00 N
600088461 WILLIAMS .00 .00 .00 .000 .250 .300 $52,000.00 N
600088462 CAMERON .00 .00 .00 .000 .250 .300 $234,000.00 N
600088463 MURRAY .00 .00 .00 .000 .250 .300 $104,000.00 N
600088464 WILLIAMS .00 .00 .00 .000 .250 .300 $158,000.00 N
600088465 STROUD .00 .00 .00 .000 .250 .300 $91,500.00 N
600088466 SAWYER .00 .00 .00 .000 .250 .300 $670,000.00 N
600088467 COMPTON .00 .00 .00 .000 .250 .300 $168,000.00 N
600088468 WILLHITE .00 .00 .00 .000 .250 .300 $270,000.00 N
600088469 ZULPO .00 .00 .00 .000 .250 .300 $190,000.00 N
600088470 CAMPBELL .00 .00 .00 .000 .250 .300 $80,000.00 N
600088471 MAJZAB .00 .00 .00 .000 .250 .300 $55,000.00 N
600088473 GONZALEZ .00 .00 .00 .000 .250 .300 $110,000.00 N
600088474 DEDENBAC .00 .00 .00 .000 .250 .300 $177,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 145
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088475 CHAMPT 8535 E ANGUS ROAD TRAVERSE CITY MI 49684 $64,961.63
600088476 HARRIS J 12824 RIVER ROAD RICHMOND VA 23233 $149,899.35
600088477 PFEIFFER 6733 KENINGTON AVE RICHMOND VA 23226 $63,869.39
600088478 ALATTAR 3226 BYWATER STERLING HEIGHT MI 48314 $157,911.42
600088479 BROWN 2441 E 39TH STREET SAVANNAH GA 31404 $43,155.03
600088480 BRENNAN 3641 140TH AVENUE NORT LARGO FL 33771 $38,228.00
600088481 BRENNON 3623 140TH AVE NORTH LARGO FL 33771 $38,228.00
600088482 POWELL 8866 OAK CIRCLE TAMPA FL 33615 $64,960.63
600088483 ENDRES 4687 SCENIC COURT PENSACOLA FL 32504 $211,871.57
600088484 MCMASTER 7213 BUTTONWOOD DRIVE FORT WORTH TX 76137 $48,123.01
600088485 MURRAY 333 S WESLEY AVE OAK PARK IL 60302 $96,741.36
600088486 MEZY 709 W LINCOLN MADISON HIEGHTS MI 48071 $76,441.94
600088487 GARVELIN 2816 N MAIN ST ROYAL OAK MI 48073 $95,201.90
600088488 CALHOUN 310 LOCK 4 ROAD RIVERSIDE AL 35135 $115,926.03
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088475 CHAMPT 8.625 .250 8.375 .0500 8.325 10/01/2027
600088476 HARRIS J 8.000 .250 7.750 .0500 7.700 10/01/2027
600088477 PFEIFFER 9.625 .250 9.375 .0500 9.325 10/01/2027
600088478 ALATTAR 8.875 .250 8.625 .0500 8.575 10/01/2027
600088479 BROWN 9.250 .250 9.000 .0500 8.950 09/01/2027
600088480 BRENNAN 8.750 .250 8.500 .0500 8.450 10/01/2027
600088481 BRENNON 8.750 .250 8.500 .0500 8.450 10/01/2027
600088482 POWELL 8.500 .250 8.250 .0500 8.200 10/01/2027
600088483 ENDRES 8.500 .250 8.250 .0500 8.200 10/01/2027
600088484 MCMASTER 8.875 .250 8.625 .0500 8.575 10/01/2027
600088485 MURRAY 8.500 .250 8.250 .0500 8.200 10/01/2027
600088486 MEZY 8.625 .250 8.375 .0500 8.325 10/01/2027
600088487 GARVELIN 9.375 .250 9.125 .0500 9.075 10/01/2027
600088488 CALHOUN 8.250 .250 8.000 .0500 7.950 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600088475 CHAMPT 0945567 $505.56 11/01/1997 360
600088476 HARRIS J 0945811 $1,100.65 11/01/1997 360
600088477 PFEIFFER 0945876 $543.14 18 11/01/1997 360
600088478 ALATTAR 0945921 $1,257.12 11/01/1997 360
600088479 BROWN 0945935 $355.40 2 11/01/1997 360
600088480 BRENNAN 0946202 $300.91 12 11/01/1997 360
600088481 BRENNON 0946203 $300.91 12 11/01/1997 360
600088482 POWELL 0946387 $499.79 11/01/1997 360
600088483 ENDRES 0946403 $1,630.10 11/01/1997 360
600088484 MCMASTER 0947021 $383.10 2 11/01/1997 360
600088485 MURRAY 0947063 $744.31 11/01/1997 360
600088486 MEZY 0948021 $595.01 11/01/1997 360
600088487 GARVELIN 0948041 $792.24 11/01/1997 360
600088488 CALHOUN 0948135 $871.47 11/01/1997 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>
600088475 CHAMPT .00 .00 .00 .000 .250 .300 $193,000.00 N
600088476 HARRIS J .00 .00 .00 .000 .250 .300 $190,000.00 N
600088477 PFEIFFER .00 .00 .00 .000 .250 .300 $71,000.00 N
600088478 ALATTAR .00 .00 .00 .000 .250 .300 $237,750.00 N
600088479 BROWN .00 .00 .00 .000 .250 .300 $48,000.00 N
600088480 BRENNAN .00 .00 .00 .000 .250 .300 $42,500.00 N
600088481 BRENNON .00 .00 .00 .000 .250 .300 $42,500.00 N
600088482 POWELL .00 .00 .00 .000 .250 .300 $116,000.00 N
600088483 ENDRES .00 .00 .00 .000 .250 .300 $265,000.00 N
600088484 MCMASTER .00 .00 .00 .000 .250 .300 $53,500.00 N
600088485 MURRAY .00 .00 .00 .000 .250 .300 $121,000.00 N
600088486 MEZY .00 .00 .00 .000 .250 .300 $102,500.00 N
600088487 GARVELIN .00 .00 .00 .000 .250 .300 $127,000.00 N
600088488 CALHOUN .00 .00 .00 .000 .250 .300 $172,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 146
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088489 GARBOW 2914 LENOX RD NE ATLANTA GA 30324 $148,697.60
600088491 NORMAN 6854 CEDAR HILL COURT RIVERDALE GA 30296 $63,860.28
600088492 TERSIGNI 264 E ARCHWOOD AVE AKRON OH 44301 $40,973.86
600088493 VENABLE RT 4 ROUTE 4 BOX 335 CENTRE AL 35960 $52,468.20
600088495 FLORES 1095 CHELTERHAM CIRCLE THOUSAND OAKS CA 91360 $132,799.83
600088497 AKOPIAN 16711 MORISON STREET LOS ANGELES CA 91436 $151,640.31
600088498 WHITE 9216 NORTH GREEN MEADO FRESNO CA 93720 $113,838.56
600088501 ONO 22630 SATICOY STREET LOS ANGELES CA 91307 $99,890.33
600088502 LASSESEN 256 MAY CREEK ROAD DAYS CREEK OR 97427 $209,280.58
600088503 GALVAN 233 LAURIE LANE SANTA PAULA CA 93060 $103,789.24
600088506 DIAZ 23163 COFFEE BERRY CIRC CORONA CA 91719 $121,669.25
600088507 BROWN 310 WEST JUNIPER AVEN FLAGSTAFF AZ 86001 $52,324.75
600088508 BOWENS 8348 WEST ROCKWOOD DRI PEORIA AZ 85382 $64,910.23
600088510 PAULUS 827 NORTH VERANO DRIV GLENDORA CA 91741 $199,847.82
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088489 GARBOW 7.875 .250 7.625 .0500 7.575 10/01/2027
600088491 NORMAN 8.375 .250 8.125 .0500 8.075 10/01/2027
600088492 TERSIGNI 8.250 .250 8.000 .0500 7.950 10/01/2027
600088493 VENABLE 8.500 .250 8.250 .0500 8.200 10/01/2027
600088495 FLORES 8.000 .250 7.750 .0500 7.700 09/01/2027
600088497 AKOPIAN 7.875 .250 7.625 .0500 7.575 09/01/2027
600088498 WHITE 7.750 .250 7.500 .0500 7.450 09/01/2027
600088501 ONO 9.000 .250 8.750 .0500 8.700 09/01/2027
600088502 LASSESEN 8.125 .250 7.875 .0500 7.825 09/01/2027
600088503 GALVAN 8.000 .250 7.750 .0500 7.700 08/01/2027
600088506 DIAZ 8.000 .250 7.750 .0500 7.700 07/01/2027
600088507 BROWN 8.625 .250 8.375 .0500 8.325 07/01/2027
600088508 BOWENS 7.875 .250 7.625 .0500 7.575 09/01/2027
600088510 PAULUS 7.375 .250 7.125 .0500 7.075 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600088489 GARBOW 0948181 $1,078.90 11/01/1997 360
600088491 NORMAN 0949152 $485.69 11/01/1997 360
600088492 TERSIGNI 0949189 $308.02 11/01/1997 360
600088493 VENABLE 0950041 $403.68 11/01/1997 360
600088495 FLORES 6211908 $975.91 11/01/1997 360
600088497 AKOPIAN 6211997 $1,101.02 11/01/1997 360
600088498 WHITE 6214002 $816.71 11/01/1997 360
600088501 ONO 6215157 $804.63 2 11/01/1997 360
600088502 LASSESEN 6221920 $1,559.25 11/01/1997 360
600088503 GALVAN 6225332 $763.12 11/01/1997 360
600088506 DIAZ 6235268 $895.20 11/01/1997 360
600088507 BROWN 6235939 $407.96 11/01/1997 360
600088508 BOWENS 6236177 $471.30 11/01/1997 360
600088510 PAULUS 6274173 $1,381.35 11/01/1997 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>
600088489 GARBOW .00 .00 .00 .000 .250 .300 $186,000.00 N
600088491 NORMAN .00 .00 .00 .000 .250 .300 $79,900.00 N
600088492 TERSIGNI .00 .00 .00 .000 .250 .300 $59,600.00 N
600088493 VENABLE .00 .00 .00 .000 .250 .300 $70,000.00 N
600088495 FLORES .00 .00 .00 .000 .250 .300 $193,000.00 N
600088497 AKOPIAN .00 .00 .00 .000 .250 .300 $202,500.00 N
600088498 WHITE .00 .00 .00 .000 .250 .300 $144,000.00 N
600088501 ONO .00 .00 .00 .000 .250 .300 $125,000.00 N
600088502 LASSESEN .00 .00 .00 .000 .250 .300 $349,500.00 N
600088503 GALVAN .00 .00 .00 .000 .250 .300 $130,000.00 N
600088506 DIAZ .00 .00 .00 .000 .250 .300 $153,000.00 N
600088507 BROWN .00 .00 .00 .000 .250 .300 $164,900.00 N
600088508 BOWENS .00 .00 .00 .000 .250 .300 $207,000.00 N
600088510 PAULUS .00 .00 .00 .000 .250 .300 $280,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 147
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088513 KELLER 1640 CANTER CT REDDING CA 96002 $89,946.86
600088515 BUENROST 2091 BEEBEE STREET SAN LUIS OBISPO CA 93401 $127,733.99
600088516 SLACK 2375 ADAMS STREET CAMBRIA CA 93428 $171,762.48
600088518 HARROW 4389 POINSETTIA STREET SAN LUIS OBISPO CA 93401 $198,917.89
600088519 SHAGENA 6292 BELGRAVE AVENUE GARDEN GROVE CA 92845 $141,594.98
600088520 PEACE 12562 PALOMAR STREET GARDEN GROVE CA 92845 $167,768.00
600088521 HOBSON 6552 BANTAM LAKE CIRCL SAN DIEGO CA 92119 $121,835.72
600088522 CHIER 4728 ROBBINS STREET SAN DIEGO CA 92122 $172,892.67
600088523 WELCH 827-82 9TH ST IMPERIAL BEACH CA 91932 $180,378.88
600088525 GELITZ 610 SOUTHWEST COLONY PORTLAND OR 97319 $165,782.08
600088526 MCCONNEL 1105 COAL SOUTHW ALBUQUERQUE NM 87102 $87,905.98
600088527 LOVER 5106 EAST CHARLESTON A SCOTTSDALE AZ 85254 $129,841.93
600088528 MEYER 10246 EAST ESSEX VILLAG TUCSON AZ 85748 $95,467.98
600088529 KOCK 8205 EAST ORANGE BLOSS SCOTTSDALE AZ 85250 $52,932.16
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088513 KELLER 8.625 .250 8.375 .0500 8.325 10/01/2027
600088515 BUENROST 7.875 .250 7.625 .0500 7.575 08/01/2027
600088516 SLACK 7.875 .250 7.625 .0500 7.575 09/01/2027
600088518 HARROW 7.750 .250 7.500 .0500 7.450 09/01/2027
600088519 SHAGENA 8.000 .250 7.750 .0500 7.700 08/01/2027
600088520 PEACE 7.875 .250 7.625 .0500 7.575 09/01/2027
600088521 HOBSON 8.000 .250 7.750 .0500 7.700 09/01/2027
600088522 CHIER 7.750 .250 7.500 .0500 7.450 09/01/2027
600088523 WELCH 8.000 .250 7.750 .0500 7.700 10/01/2027
600088525 GELITZ 8.125 .250 7.875 .0500 7.825 09/01/2027
600088526 MCCONNEL 9.125 .250 8.875 .0500 8.825 09/01/2027
600088527 LOVER 8.500 .250 8.250 .0500 8.200 09/01/2027
600088528 MEYER 7.875 .250 7.625 .0500 7.575 09/01/2027
600088529 KOCK 8.250 .250 8.000 .0500 7.950 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600088513 KELLER 6284662 $700.02 11/01/1997 360
600088515 BUENROST 6285829 $928.09 11/01/1997 360
600088516 SLACK 6285836 $1,247.12 11/01/1997 360
600088518 HARROW 6285873 $1,427.10 11/01/1997 360
600088519 SHAGENA 6294678 $1,041.95 11/01/1997 360
600088520 PEACE 6299539 $1,218.12 11/01/1997 360
600088521 HOBSON 6310116 $895.20 11/01/1997 360
600088522 CHIER 6310162 $1,240.83 11/01/1997 360
600088523 WELCH 6310239 $1,324.45 18 11/01/1997 360
600088525 GELITZ 6311575 $1,232.55 11/01/1997 360
600088526 MCCONNEL 6312185 $716.00 11/01/1997 360
600088527 LOVER 6312193 $999.59 12 11/01/1997 360
600088528 MEYER 6312234 $693.17 11/01/1997 360
600088529 KOCK 6312238 $398.18 11/01/1997 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>
600088513 KELLER .00 .00 .00 .000 .250 .300 $120,000.00 N
600088515 BUENROST .00 .00 .00 .000 .250 .300 $160,000.00 N
600088516 SLACK .00 .00 .00 .000 .250 .300 $215,000.00 N
600088518 HARROW .00 .00 .00 .000 .250 .300 $249,000.00 N
600088519 SHAGENA .00 .00 .00 .000 .250 .300 $193,000.00 N
600088520 PEACE .00 .00 .00 .000 .250 .300 $210,000.00 N
600088521 HOBSON .00 .00 .00 .000 .250 .300 $223,000.00 N
600088522 CHIER .00 .00 .00 .000 .250 .300 $216,500.00 N
600088523 WELCH .00 .00 .00 .000 .250 .300 $190,000.00 N
600088525 GELITZ .00 .00 .00 .000 .250 .300 $236,000.00 N
600088526 MCCONNEL .00 .00 .00 .000 .250 .300 $110,000.00 N
600088527 LOVER .00 .00 .00 .000 .250 .300 $144,500.00 N
600088528 MEYER .00 .00 .00 .000 .250 .300 $127,500.00 N
600088529 KOCK .00 .00 .00 .000 .250 .300 $91,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 148
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088531 HAFFNER 10805 WEST BROOKSIDE DR SUN CITY AZ 85351 $59,919.21
600088532 CANNER 6839 TRUCHAS DR ALBUQUERQUE NM 87109 $90,946.27
600088533 BRIJLALL 4338 WEST KEIM DRIVE GLENDALE AZ 85301 $50,942.61
600088534 RAMIREZ 2121E WAHALLA LN PHOENIX AZ 85024 $102,331.29
600088535 ASCHE 1110W MONTEREY ST CHANDLER AZ 85224 $146,910.94
600088536 GREGERSO 115 16TH AVENUE SOUTH NAMPA ID 83651 $94,551.82
600088537 GREGERSO 210 LONESTAR ROAD NAMPA ID 83651 $95,841.50
600088538 GREGERSO 423 5TH AVENUE SOUTH NAMPA ID 83651 $45,050.23
600088539 REHFELD 5132 BRIARCREST DR NAMPA ID 83686 $63,927.98
600088540 MANN 7545 DALLAS COURT LAS VEGAS NV 89139 $149,792.88
600088541 ANDERSON 403 EAST KENSINGTON A SALT LAKE CITY UT 84115 $67,958.81
600088543 POULOS 1538 HARRISON AVENUE SALT LAKE CITY UT 84105 $155,800.36
600091399 MONDROSK 1341 MOSLEY ROAD ENNIS TX 75119 $159,907.95
600091400 STEVENS 5160 DUCK LAKE ROAD HIGHLAND MI 48357 $116,525.65
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088531 HAFFNER 8.000 .250 7.750 .0500 7.700 09/01/2027
600088532 CANNER 8.625 .250 8.375 .0500 8.325 10/01/2027
600088533 BRIJLALL 8.875 .250 8.625 .0500 8.575 09/01/2027
600088534 RAMIREZ 8.000 .250 7.750 .0500 7.700 10/01/2027
600088535 ASCHE 8.500 .250 8.250 .0500 8.200 10/01/2027
600088536 GREGERSO 9.000 .250 8.750 .0500 8.700 07/01/2027
600088537 GREGERSO 9.000 .250 8.750 .0500 8.700 08/01/2027
600088538 GREGERSO 9.000 .250 8.750 .0500 8.700 07/01/2027
600088539 REHFELD 8.875 .250 8.625 .0500 8.575 09/01/2027
600088540 MANN 7.875 .250 7.625 .0500 7.575 09/01/2027
600088541 ANDERSON 8.500 .250 8.250 .0500 8.200 10/01/2027
600088543 POULOS 8.250 .250 8.000 .0500 7.950 09/01/2027
600091399 MONDROSK 8.750 .250 8.500 .0500 8.450 10/01/2027
600091400 STEVENS 8.250 .250 8.000 .0500 7.950 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600088531 HAFFNER 6312429 $440.26 11/01/1997 360
600088532 CANNER 6312488 $707.79 11/01/1997 360
600088533 BRIJLALL 6312522 $405.78 11/01/1997 360
600088534 RAMIREZ 6312578 $751.38 11/01/1997 360
600088535 ASCHE 6312608 $1,130.31 11/01/1997 360
600088536 GREGERSO 7046640 $762.78 11/01/1997 360
600088537 GREGERSO 7050240 $772.44 11/01/1997 360
600088538 GREGERSO 7053740 $363.29 11/01/1997 360
600088539 REHFELD 7127132 $509.21 11/01/1997 360
600088540 MANN 7413820 $1,087.60 11/01/1997 360
600088541 ANDERSON 7479710 $522.86 11/01/1997 360
600088543 POULOS 7555512 $1,171.98 11/01/1997 360
600091399 MONDROSK 0931932 $1,258.72 11/01/1997 360
600091400 STEVENS 0934644 $875.98 11/01/1997 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>
600088531 HAFFNER .00 .00 .00 .000 .250 .300 $114,500.00 N
600088532 CANNER .00 .00 .00 .000 .250 .300 $169,000.00 N
600088533 BRIJLALL .00 .00 .00 .000 .250 .300 $68,000.00 N
600088534 RAMIREZ .00 .00 .00 .000 .250 .300 $128,000.00 N
600088535 ASCHE .00 .00 .00 .000 .250 .300 $196,000.00 N
600088536 GREGERSO .00 .00 .00 .000 .250 .300 $118,500.00 N
600088537 GREGERSO .00 .00 .00 .000 .250 .300 $120,000.00 N
600088538 GREGERSO .00 .00 .00 .000 .250 .300 $61,300.00 N
600088539 REHFELD .00 .00 .00 .000 .250 .300 $94,000.00 N
600088540 MANN .00 .00 .00 .000 .250 .300 $263,000.00 N
600088541 ANDERSON .00 .00 .00 .000 .250 .300 $139,000.00 N
600088543 POULOS .00 .00 .00 .000 .250 .300 $195,000.00 N
600091399 MONDROSK .00 .00 .00 .000 .250 .300 $200,000.00 N
600091400 STEVENS .00 .00 .00 .000 .250 .300 $180,400.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 149
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091401 BOONE 7147 WATERMAN AVENUE UNIVERSITY CITY MO 63130 $145,304.94
600091402 WEBB JR 7940 MIDDLETOWN-GERMANTO GERMANTOWN OH 45327 $65,577.08
600091403 WILKE 5736 DEERFIELD PORTAGE MI 49002 $44,917.64
600091404 WARD 516 CHARTER STREET DEKALB IL 60115 $82,851.92
600091405 HUTSON 12705 S RENE STREET OLATHE KS 66062 $148,702.66
600091406 GREEN 7521 RIVERDALE RD NEW CARROLLTON MD 20784 $22,624.50
600091407 PRIESTAP 740 WENDY LANE GRAYLING MI 49738 $39,973.16
600091408 KIRCHEIS 7850 CRESTVIEW DR NE BELMONT MI 49306 $194,862.38
600091410 VEITH 612 GRAND RIVER LAINGSBURG MI 48848 $59,960.75
600091412 FRAGULIS 1650 TIMBERLINE TRACE SNELLVILLE GA 30078 $170,685.40
600091414 BRATKOVS 8712 SKOKIE BOULEVARD SKOKIE IL 60076 $65,760.13
600091415 MANN 1213 STONELAKE DR CLEBURNE TX 76031 $82,336.15
600091416 COLELLA 7217 CAMDEN DOWNERS GROVE IL 60516 $163,498.31
600091417 ROBERTSO 1531 MARCY CIRCLE SAVANNAH GA 31406 $58,481.16
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091401 BOONE 8.000 .250 7.750 .0500 7.700 08/01/2027
600091402 WEBB JR 8.500 .250 8.250 .0500 8.200 08/01/2027
600091403 WILKE 8.500 .250 8.250 .0500 8.200 08/01/2027
600091404 WARD 8.625 .250 8.375 .0500 8.325 08/01/2027
600091405 HUTSON 8.125 .250 7.875 .0500 7.825 10/01/2027
600091406 GREEN 8.875 .250 8.625 .0500 8.575 09/01/2027
600091407 PRIESTAP 8.000 .250 7.750 .0500 7.700 10/01/2027
600091408 KIRCHEIS 7.750 .250 7.500 .0500 7.450 11/01/2027
600091410 VEITH 8.125 .250 7.875 .0500 7.825 10/01/2027
600091412 FRAGULIS 8.000 .250 7.750 .0500 7.700 10/01/2027
600091414 BRATKOVS 8.500 .250 8.250 .0500 8.200 10/01/2027
600091415 MANN 7.875 .250 7.625 .0500 7.575 09/01/2027
600091416 COLELLA 8.375 .250 8.125 .0500 8.075 10/01/2027
600091417 ROBERTSO 8.000 .250 7.750 .0500 7.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091401 BOONE 0936431 $1,068.37 11/01/1997 360
600091402 WEBB JR 0936893 $507.48 11/01/1997 360
600091403 WILKE 0937100 $346.01 11/01/1997 360
600091404 WARD 0938183 $645.57 7 11/01/1997 360
600091405 HUTSON 0938326 $1,104.84 11/01/1997 360
600091406 GREEN 0939193 $180.22 11/01/1997 360
600091407 PRIESTAP 0939261 $293.51 11/01/1997 360
600091408 KIRCHEIS 0939441 $1,397.00 11/01/1997 360
600091410 VEITH 0940174 $445.50 11/01/1997 360
600091412 FRAGULIS 0940620 $1,253.27 11/01/1997 360
600091414 BRATKOVS 0940909 $505.95 11/01/1997 360
600091415 MANN 0941042 $597.82 11/01/1997 360
600091416 COLELLA 0941098 $1,243.48 11/01/1997 360
600091417 ROBERTSO 0941451 $429.69 11/01/1997 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>
600091401 BOONE .00 .00 .00 .000 .250 .300 $183,000.00 N
600091402 WEBB JR .00 .00 .00 .000 .250 .300 $85,000.00 N
600091403 WILKE .00 .00 .00 .000 .250 .300 $60,000.00 N
600091404 WARD .00 .00 .00 .000 .250 .300 $95,000.00 N
600091405 HUTSON .00 .00 .00 .000 .250 .300 $186,000.00 N
600091406 GREEN .00 .00 .00 .000 .250 .300 $30,000.00 N
600091407 PRIESTAP .00 .00 .00 .000 .250 .300 $76,000.00 N
600091408 KIRCHEIS .00 .00 .00 .000 .250 .300 $305,000.00 N
600091410 VEITH .00 .00 .00 .000 .250 .300 $85,000.00 N
600091412 FRAGULIS .00 .00 .00 .000 .250 .300 $213,500.00 N
600091414 BRATKOVS .00 .00 .00 .000 .250 .300 $94,000.00 N
600091415 MANN .00 .00 .00 .000 .250 .300 $114,000.00 N
600091416 COLELLA .00 .00 .00 .000 .250 .300 $204,500.00 N
600091417 ROBERTSO .00 .00 .00 .000 .250 .300 $73,200.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 150
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091418 RICHARDS 1312 ABERCORN STREET SAVANNAH GA 31401 $70,103.06
600091419 TRUESDEL 2233 EAST CORK STREET KALAMAZOO MI 49001 $35,979.29
600091420 NICHOLS 1618 HIGHLAND TERRACE NEEDHAM MA 2194 $175,388.09
600091421 HUNG 33 MONTEVALE AVENUE WOBURN MA 1801 $47,672.55
600091422 YORK 5364 FOREST DRIVE LOGANVILLE GA 30249 $116,829.18
600091423 BRESLIN 16073 SHELLCRACKER ROAD JACKSONVILLE FL 32226 $199,878.84
600091424 ARGENTO 2835 OLDE SAVANNAH COVE SUWANNEE GA 30174 $120,619.02
600091425 SCOTT 106 MICHAEL LOOP DAPHNE AL 36526 $77,950.26
600091426 HOZELLA 1201-1203 WEST MARKET ST POTTSVILLE PA 17901 $71,205.72
600091427 SKINNER 220 VIVIAN ST LEEDS AL 35094 $40,028.13
600091429 AYERS RT 1 BOX 327 B RIO HONDO TX 78583 $89,938.07
600091431 KUMAR 213 E CUSTIS AVENUE ALEXANDRIA VA 22301 $97,446.74
600091432 JOHNSON 2009 NOBLE OXFORD MI 48370 $157,404.59
600091433 SMITH-HI 3190 GREY FOX DR GAHANNA OH 43230 $123,428.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091418 RICHARDS 7.875 .250 7.625 .0500 7.575 09/01/2027
600091419 TRUESDEL 8.750 .250 8.500 .0500 8.450 10/01/2027
600091420 NICHOLS 8.250 .250 8.000 .0500 7.950 10/01/2027
600091421 HUNG 8.750 .250 8.500 .0500 8.450 10/01/2027
600091422 YORK 8.500 .250 8.250 .0500 8.200 10/01/2027
600091423 BRESLIN 8.500 .250 8.250 .0500 8.200 10/01/2027
600091424 ARGENTO 8.000 .250 7.750 .0500 7.700 10/01/2027
600091425 SCOTT 8.250 .250 8.000 .0500 7.950 10/01/2027
600091426 HOZELLA 8.375 .250 8.125 .0500 8.075 10/01/2027
600091427 SKINNER 9.000 .250 8.750 .0500 8.700 10/01/2027
600091429 AYERS 7.875 .250 7.625 .0500 7.575 10/01/2027
600091431 KUMAR 9.000 .250 8.750 .0500 8.700 10/01/2027
600091432 JOHNSON 8.500 .250 8.250 .0500 8.200 10/01/2027
600091433 SMITH-HI 8.750 .250 8.500 .0500 8.450 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091418 RICHARDS 0941561 $509.00 11/01/1997 360
600091419 TRUESDEL 0942397 $283.21 12 11/01/1997 360
600091420 NICHOLS 0942470 $1,318.47 11/01/1997 360
600091421 HUNG 0942477 $375.26 12 11/01/1997 360
600091422 YORK 0942483 $898.86 12 11/01/1997 360
600091423 BRESLIN 0942625 $1,537.83 11/01/1997 360
600091424 ARGENTO 0942730 $885.65 11/01/1997 360
600091425 SCOTT 0942790 $585.99 11/01/1997 360
600091426 HOZELLA 0942991 $541.55 11/01/1997 360
600091427 SKINNER 0943064 $322.25 12 11/01/1997 360
600091429 AYERS 0943804 $652.56 11/01/1997 360
600091431 KUMAR 0944208 $784.51 11/01/1997 360
600091432 JOHNSON 0944233 $1,211.04 11/01/1997 360
600091433 SMITH-HI 0944508 $971.58 11/01/1997 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>
600091418 RICHARDS .00 .00 .00 .000 .250 .300 $702,000.00 N
600091419 TRUESDEL .00 .00 .00 .000 .250 .300 $40,000.00 N
600091420 NICHOLS .00 .00 .00 .000 .250 .300 $257,342.00 N
600091421 HUNG .00 .00 .00 .000 .250 .300 $53,000.00 N
600091422 YORK .00 .00 .00 .000 .250 .300 $129,900.00 N
600091423 BRESLIN .00 .00 .00 .000 .250 .300 $400,000.00 N
600091424 ARGENTO .00 .00 .00 .000 .250 .300 $150,900.00 N
600091425 SCOTT .00 .00 .00 .000 .250 .300 $119,000.00 N
600091426 HOZELLA .00 .00 .00 .000 .250 .300 $95,000.00 N
600091427 SKINNER .00 .00 .00 .000 .250 .300 $44,500.00 N
600091429 AYERS .00 .00 .00 .000 .250 .300 $123,500.00 N
600091431 KUMAR .00 .00 .00 .000 .250 .300 $130,000.00 N
600091432 JOHNSON .00 .00 .00 .000 .250 .300 $225,000.00 N
600091433 SMITH-HI .00 .00 .00 .000 .250 .300 $220,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 151
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091435 MARTINDA 1751 SULTAN AVENUE CINCINNATI OH 45230 $43,098.88
600091436 PRICE 1707 LORING DRIVE LONGVIEW TX 75604 $59,963.65
600091437 SMITH 10456 S LONGWOOD DRIVE CHICAGO IL 60643 $167,898.23
600091438 PINEIRO 1227 AVENUE L SANTA FE TX 77510 $39,977.57
600091439 WHITE 18709 W FARMINGTON ROAD TRIVOLI IL 61569 $51,938.38
600091440 MCNEAL 10035 SOUTH YATES CHICAGO IL 60617 $66,360.80
600091441 SCHULZ 4878 EDGEWATER DRIVE MOUND MN 55364 $157,502.05
600091442 MENTLER 912 SPRINGFIRE EL PASO TX 79912 $59,961.74
600091443 MEDINA 705 WEBSTER STREET ALGONQUIN IL 60102 $125,723.79
600091444 GARCIA 359 PENDALE ROAD EL PASO TX 79907 $83,753.02
600091445 HOEHN 5 N 124 MARY COURT ST CHARLES IL 60175 $161,901.86
600091446 NORIEGA 305 SPRING AVENUE ANNA MARIA FL 34216 $109,738.44
600091447 MATAR 6300 STEVENSON AVENUE ALEXANDRIA VA 22304 $55,161.04
600091448 POURLOSH 38203 MALLORY LIVONIA MI 48154 $177,992.10
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091435 MARTINDA 8.500 .250 8.250 .0500 8.200 10/01/2027
600091436 PRICE 8.500 .250 8.250 .0500 8.200 10/01/2027
600091437 SMITH 8.500 .250 8.250 .0500 8.200 10/01/2027
600091438 PINEIRO 8.875 .250 8.625 .0500 8.575 10/01/2027
600091439 WHITE 8.625 .250 8.375 .0500 8.325 09/01/2027
600091440 MCNEAL 8.625 .250 8.375 .0500 8.325 10/01/2027
600091441 SCHULZ 8.375 .250 8.125 .0500 8.075 10/01/2027
600091442 MENTLER 8.250 .250 8.000 .0500 7.950 10/01/2027
600091443 MEDINA 8.500 .250 8.250 .0500 8.200 10/01/2027
600091444 GARCIA 8.875 .250 8.625 .0500 8.575 10/01/2027
600091445 HOEHN 8.500 .250 8.250 .0500 8.200 10/01/2027
600091446 NORIEGA 8.875 .250 8.625 .0500 8.575 10/01/2027
600091447 MATAR 7.750 .250 7.500 .0500 7.450 10/01/2027
600091448 POURLOSH 8.500 .250 8.250 .0500 8.200 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091435 MARTINDA 0944828 $331.59 11/01/1997 360
600091436 PRICE 0945133 $461.35 11/01/1997 360
600091437 SMITH 0945169 $1,291.77 11/01/1997 360
600091438 PINEIRO 0945185 $318.26 11/01/1997 360
600091439 WHITE 0945203 $404.45 11/01/1997 360
600091440 MCNEAL 0945224 $516.45 11/01/1997 360
600091441 SCHULZ 0945267 $1,197.87 11/01/1997 360
600091442 MENTLER 0945279 $450.76 11/01/1997 360
600091443 MEDINA 0945307 $967.29 11/01/1997 360
600091444 GARCIA 0945389 $666.75 11/01/1997 360
600091445 HOEHN 0945460 $1,245.64 11/01/1997 360
600091446 NORIEGA 0945711 $873.62 2 11/01/1997 360
600091447 MATAR 0945715 $395.46 11/01/1997 360
600091448 POURLOSH 0945768 $1,369.44 11/01/1997 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>
600091435 MARTINDA .00 .00 .00 .000 .250 .300 $57,500.00 N
600091436 PRICE .00 .00 .00 .000 .250 .300 $75,000.00 N
600091437 SMITH .00 .00 .00 .000 .250 .300 $280,000.00 N
600091438 PINEIRO .00 .00 .00 .000 .250 .300 $50,000.00 N
600091439 WHITE .00 .00 .00 .000 .250 .300 $80,000.00 N
600091440 MCNEAL .00 .00 .00 .000 .250 .300 $83,000.00 N
600091441 SCHULZ .00 .00 .00 .000 .250 .300 $197,000.00 N
600091442 MENTLER .00 .00 .00 .000 .250 .300 $75,000.00 N
600091443 MEDINA .00 .00 .00 .000 .250 .300 $158,000.00 N
600091444 GARCIA .00 .00 .00 .000 .250 .300 $104,770.00 N
600091445 HOEHN .00 .00 .00 .000 .250 .300 $225,000.00 N
600091446 NORIEGA .00 .00 .00 .000 .250 .300 $122,000.00 N
600091447 MATAR .00 .00 .00 .000 .250 .300 $69,000.00 N
600091448 POURLOSH .00 .00 .00 .000 .250 .300 $237,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 152
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091449 LEWIS 1261 N FAHLANDER DR. COLUMBUS OH 43229 $98,891.43
600091450 DANIELCZ 810-12 BEDFORD BAY TRAIL LAWRENCEVILLE GA 30045 $95,495.03
600091451 VERSACE 1369 SECTION LINE TRAIL DELTONA FL 32725 $46,773.08
600091452 ANDERSON 4626 NW 34TH STREET GAINESVILLE FL 32605 $54,867.58
600091453 ADUDDELL 330 TUDOR DR CAPE CORAL FL 33904 $40,076.93
600091454 HAYWARD 3101 BAY VILLA AVE TAMPA FL 33611 $107,936.24
600091455 KRUGER 1387 IDLEWILD COURT SARASOTA FL 34243 $58,466.34
600091456 FREVE JR 2193 GLENCOE DRIVE ORANGE PARK FL 32073 $109,924.30
600091457 HEALEY 4933 STARR LANSING MI 48910 $33,731.57
600091458 MCFADDEN 111- 113 N RACE STREET SPRINGFIELD OH 45504 $40,079.21
600091459 FRIED 658 HAMPTON-LOCUST GROVE HAMPTON GA 30228 $179,885.22
600091460 FETZ 12212 EAGLES NEST CT GERMANTOWN MD 20874 $59,207.11
600091461 DARWIN 3532 MEADOWBROOK DRIVE FORT WORTH TX 76103 $32,230.96
600091462 ARNOWITZ 169 HOME AVENUE PALATINE IL 60067 $142,311.49
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091449 LEWIS 9.000 .250 8.750 .0500 8.700 09/01/2027
600091450 DANIELCZ 8.750 .250 8.500 .0500 8.450 10/01/2027
600091451 VERSACE 8.750 .250 8.500 .0500 8.450 10/01/2027
600091452 ANDERSON 8.625 .250 8.375 .0500 8.325 10/01/2027
600091453 ADUDDELL 8.750 .250 8.500 .0500 8.450 10/01/2027
600091454 HAYWARD 8.625 .250 8.375 .0500 8.325 10/01/2027
600091455 KRUGER 8.750 .250 8.500 .0500 8.450 10/01/2027
600091456 FREVE JR 7.875 .250 7.625 .0500 7.575 11/01/2027
600091457 HEALEY 9.000 .250 8.750 .0500 8.700 10/01/2027
600091458 MCFADDEN 9.250 .250 9.000 .0500 8.950 10/01/2027
600091459 FRIED 8.250 .250 8.000 .0500 7.950 10/01/2027
600091460 FETZ 7.625 .250 7.375 .0500 7.325 10/01/2027
600091461 DARWIN 8.625 .250 8.375 .0500 8.325 10/01/2027
600091462 ARNOWITZ 8.375 .250 8.125 .0500 8.075 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091449 LEWIS 0945898 $796.58 18 11/01/1997 360
600091450 DANIELCZ 0945961 $751.69 12 11/01/1997 360
600091451 VERSACE 0946010 $368.17 2 11/01/1997 360
600091452 ANDERSON 0946058 $427.01 2 11/01/1997 360
600091453 ADUDDELL 0946351 $315.47 11/01/1997 360
600091454 HAYWARD 0946404 $840.01 11/01/1997 360
600091455 KRUGER 0946495 $460.22 18 11/01/1997 360
600091456 FREVE JR 0946566 $797.58 11/01/1997 360
600091457 HEALEY 0946673 $271.56 12 11/01/1997 360
600091458 MCFADDEN 0946739 $329.89 11/01/1997 360
600091459 FRIED 0946778 $1,352.28 11/01/1997 360
600091460 FETZ 0946847 $419.37 11/01/1997 360
600091461 DARWIN 0947055 $250.84 11/01/1997 360
600091462 ARNOWITZ 0947057 $1,082.34 11/01/1997 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>
600091449 LEWIS .00 .00 .00 .000 .250 .300 $110,000.00 N
600091450 DANIELCZ .00 .00 .00 .000 .250 .300 $106,200.00 N
600091451 VERSACE .00 .00 .00 .000 .250 .300 $52,000.00 N
600091452 ANDERSON .00 .00 .00 .000 .250 .300 $61,000.00 N
600091453 ADUDDELL .00 .00 .00 .000 .250 .300 $53,500.00 N
600091454 HAYWARD .00 .00 .00 .000 .250 .300 $135,000.00 N
600091455 KRUGER .00 .00 .00 .000 .250 .300 $65,000.00 N
600091456 FREVE JR .00 .00 .00 .000 .250 .300 $137,500.00 N
600091457 HEALEY .00 .00 .00 .000 .250 .300 $37,500.00 N
600091458 MCFADDEN .00 .00 .00 .000 .250 .300 $54,500.00 N
600091459 FRIED .00 .00 .00 .000 .250 .300 $240,000.00 N
600091460 FETZ .00 .00 .00 .000 .250 .300 $79,000.00 N
600091461 DARWIN .00 .00 .00 .000 .250 .300 $43,000.00 N
600091462 ARNOWITZ .00 .00 .00 .000 .250 .300 $178,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 153
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091463 LAUGHLIN 7000 HURST COURT ST LOUIS MO 63116 $62,566.27
600091466 ALFANO 1103S HUNT CLUB DR MT PROSPECT IL 60056 $67,958.81
600091467 WILLIAMS 2166 AUDLEY NE GRAND RAPIDS MI 49505 $66,358.73
600091468 HILL 2801 WILLING AVENUE FORT WORTH TX 76110 $57,565.99
600091469 BROWN 829 WOODBRIDGE HILLS BRIGHTON MI 48116 $88,898.97
600091470 BURTON 17 N 545 BIG TIMBER ROAD HAMPSHIRE IL 60140 $34,978.80
600091471 PAYNE 162 SCARSDALE DRIVE RIVERDALE GA 30274 $58,760.55
600091472 GATES 1621 COOL CREEK DRIVE CARMEL IN 46033 $140,512.61
600091473 KINNE 13433 SUSAN DRIVE HUDSON FL 34667 $51,971.60
600091474 JACOBS 7899 LAINA LANE BOYNTON BEACH FL 33437 $93,687.10
600091475 LOWRY 1155 HAVEN BROOK PLACE ATLANTA GA 30319 $109,333.73
600091476 SCHUNK 7328 LANDAU DRIVE BLOOMINGTON MN 55438 $88,146.57
600091477 STANFORD 212 RUSKIN ROAD PEACHTREE CITY GA 30269 $99,836.29
600091478 ORTH 2734 KILGORE PLACE SARASOTA FL 34235 $45,334.57
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091463 LAUGHLIN 9.375 .250 9.125 .0500 9.075 10/01/2027
600091466 ALFANO 8.500 .250 8.250 .0500 8.200 11/01/2027
600091467 WILLIAMS 8.375 .250 8.125 .0500 8.075 10/01/2027
600091468 HILL 8.625 .250 8.375 .0500 8.325 10/01/2027
600091469 BROWN 8.750 .250 8.500 .0500 8.450 10/01/2027
600091470 BURTON 8.500 .250 8.250 .0500 8.200 10/01/2027
600091471 PAYNE 8.000 .250 7.750 .0500 7.700 10/01/2027
600091472 GATES 8.375 .250 8.125 .0500 8.075 10/01/2027
600091473 KINNE 9.000 .250 8.750 .0500 8.700 10/01/2027
600091474 JACOBS 8.000 .250 7.750 .0500 7.700 10/01/2027
600091475 LOWRY 8.500 .250 8.250 .0500 8.200 10/01/2027
600091476 SCHUNK 8.500 .250 8.250 .0500 8.200 10/01/2027
600091477 STANFORD 8.250 .250 8.000 .0500 7.950 10/01/2027
600091478 ORTH 8.875 .250 8.625 .0500 8.575 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091463 LAUGHLIN 0947098 $524.01 12 11/01/1997 360
600091466 ALFANO 0947187 $522.86 11/01/1997 360
600091467 WILLIAMS 0947206 $504.69 11/01/1997 360
600091468 HILL 0947217 $448.01 2 11/01/1997 360
600091469 BROWN 0947526 $700.16 11/01/1997 360
600091470 BURTON 0947640 $269.12 11/01/1997 360
600091471 PAYNE 0947950 $431.45 11/01/1997 360
600091472 GATES 0947986 $1,068.66 11/01/1997 360
600091473 KINNE 0948184 $418.40 11/01/1997 360
600091474 JACOBS 0948191 $687.90 11/01/1997 360
600091475 LOWRY 0948326 $841.19 11/01/1997 360
600091476 SCHUNK 0948815 $678.18 12 11/01/1997 360
600091477 STANFORD 0949053 $750.52 12 11/01/1997 360
600091478 ORTH 0949159 $360.91 18 11/01/1997 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>
600091463 LAUGHLIN .00 .00 .00 .000 .250 .300 $73,000.00 N
600091466 ALFANO .00 .00 .00 .000 .250 .300 $96,000.00 N
600091467 WILLIAMS .00 .00 .00 .000 .250 .300 $83,000.00 N
600091468 HILL .00 .00 .00 .000 .250 .300 $64,000.00 N
600091469 BROWN .00 .00 .00 .000 .250 .300 $148,000.00 N
600091470 BURTON .00 .00 .00 .000 .250 .300 $260,000.00 N
600091471 PAYNE .00 .00 .00 .000 .250 .300 $73,500.00 N
600091472 GATES .00 .00 .00 .000 .250 .300 $192,000.00 N
600091473 KINNE .00 .00 .00 .000 .250 .300 $65,000.00 N
600091474 JACOBS .00 .00 .00 .000 .250 .300 $124,990.00 N
600091475 LOWRY .00 .00 .00 .000 .250 .300 $136,800.00 N
600091476 SCHUNK .00 .00 .00 .000 .250 .300 $98,000.00 N
600091477 STANFORD .00 .00 .00 .000 .250 .300 $111,000.00 N
600091478 ORTH .00 .00 .00 .000 .250 .300 $50,400.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 154
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091479 BUNZELUK 28028 W CHICAGO LIVONIA MI 48150 $79,943.54
600091480 CLEVELAN 1800 VAUGHN RD GRIFFIN GA 30223 $69,260.13
600091481 BAKER 3820 GULF BLVD ST PETERSBURG B FL 33706 $108,932.25
600091482 ELKINS 541 CROLEY DRIVE NASHVILLE TN 37209 $57,464.25
600091483 SANTAMAR 330 DENNY COURT BOCA RATON FL 33486 $129,519.45
600091484 BARBIERI 30126 BENTLEY LIVONIA MI 48154 $115,927.90
600091485 BOARDLEY 4001 GROVELAND AVE BALTIMORE MD 21215 $56,967.21
600091486 FILPI 4 N 390 8TH AVENUE ADDISON IL 60101 $93,943.05
600091487 BLANCHAR 121 NORTHWOOD HOUSTON TX 77009 $80,055.10
600091488 BROWN 3853 CONNECTICUT ST ST LOUIS MO 63116 $58,466.34
600091489 SPROULL 1216 OAKTON EVANSTON IL 60202 $127,268.79
600091490 SPOERLE 5313 FALCON DRIVE INDIANAPOLIS IN 46224 $56,665.65
600091491 NAZERI 26361 PAPAGAYO DRIVE MISSION VIEJO CA 92691 $147,621.18
600091492 GOLDFING 1064 SOUTH SHENANDOAH ST LOS ANGELES CA 90035 $123,773.02
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091479 BUNZELUK 7.750 .250 7.500 .0500 7.450 10/01/2027
600091480 CLEVELAN 8.750 .250 8.500 .0500 8.450 10/01/2027
600091481 BAKER 8.375 .250 8.125 .0500 8.075 10/01/2027
600091482 ELKINS 8.375 .250 8.125 .0500 8.075 10/01/2027
600091483 SANTAMAR 8.375 .250 8.125 .0500 8.075 10/01/2027
600091484 BARBIERI 8.375 .250 8.125 .0500 8.075 10/01/2027
600091485 BOARDLEY 8.750 .250 8.500 .0500 8.450 10/01/2027
600091486 FILPI 8.500 .250 8.250 .0500 8.200 10/01/2027
600091487 BLANCHAR 8.875 .250 8.625 .0500 8.575 11/01/2027
600091488 BROWN 8.750 .250 8.500 .0500 8.450 10/01/2027
600091489 SPROULL 8.250 .250 8.000 .0500 7.950 10/01/2027
600091490 SPOERLE 8.500 .250 8.250 .0500 8.200 11/01/2027
600091491 NAZERI 8.250 .250 8.000 .0500 7.950 09/01/2027
600091492 GOLDFING 8.500 .250 8.250 .0500 8.200 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091479 BUNZELUK 0949164 $573.13 11/01/1997 360
600091480 CLEVELAN 0949775 $545.18 18 11/01/1997 360
600091481 BAKER 0949916 $828.48 11/01/1997 360
600091482 ELKINS 0950013 $437.05 11/01/1997 360
600091483 SANTAMAR 0950082 $985.05 11/01/1997 360
600091484 BARBIERI 0950228 $881.68 11/01/1997 360
600091485 BOARDLEY 0950287 $448.42 11/01/1997 360
600091486 FILPI 0950505 $722.78 11/01/1997 360
600091487 BLANCHAR 0950549 $637.31 2 11/01/1997 360
600091488 BROWN 0950557 $460.22 11/01/1997 360
600091489 SPROULL 0951284 $956.74 11/01/1997 360
600091490 SPOERLE 0951920 $435.98 12 11/01/1997 360
600091491 NAZERI 6211142 $1,111.88 11/01/1997 360
600091492 GOLDFING 6211154 $953.46 11/01/1997 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>
600091479 BUNZELUK .00 .00 .00 .000 .250 .300 $125,900.00 N
600091480 CLEVELAN .00 .00 .00 .000 .250 .300 $77,000.00 N
600091481 BAKER .00 .00 .00 .000 .250 .300 $185,000.00 N
600091482 ELKINS .00 .00 .00 .000 .250 .300 $82,500.00 N
600091483 SANTAMAR .00 .00 .00 .000 .250 .300 $162,000.00 N
600091484 BARBIERI .00 .00 .00 .000 .250 .300 $145,900.00 N
600091485 BOARDLEY .00 .00 .00 .000 .250 .300 $85,500.00 N
600091486 FILPI .00 .00 .00 .000 .250 .300 $155,000.00 N
600091487 BLANCHAR .00 .00 .00 .000 .250 .300 $89,000.00 N
600091488 BROWN .00 .00 .00 .000 .250 .300 $78,000.00 N
600091489 SPROULL .00 .00 .00 .000 .250 .300 $159,225.00 N
600091490 SPOERLE .00 .00 .00 .000 .250 .300 $63,000.00 N
600091491 NAZERI .00 .00 .00 .000 .250 .300 $185,000.00 N
600091492 GOLDFING .00 .00 .00 .000 .250 .300 $155,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 155
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091493 BALMER 1314 NORTHWEST IRVING ST PORTLAND OR 97209 $124,855.63
600091494 KRIEGBAU 10402 N 101ST AVENUE SUN CITY AZ 85351 $55,966.07
600091495 ESQUIBEL 7435 CARRIVEAU AVENUE NE ALBUQUERQUE NM 87110 $155,110.71
600091496 HERRERA 6340 LOCUST STREET ALBUQUERQUE NM 87113 $86,947.29
600091497 FERGUSON 6996 E MIGHTY SAGUARO WAY SCOTTSDALE AZ 85262 $211,864.81
600091498 HOLLINGS 3842 E JOAN DE ARC AVENUE PHOENIX AZ 85032 $56,169.30
600091499 MERZ 445 RIATA VALLEY DRIVE KINGMAN AZ 86401 $46,371.15
600091500 FULLWOOD 10598 OXBOW DRIVE DEWEY AZ 86327 $149,511.67
600091502 WALKER 36599 AVENUE 12 MADERA CA 93638 $78,251.33
600091503 SORENSEN 3013 E WILLIS AVENUE FRESNO CA 93726 $54,287.39
600091504 RETA 9342 PACIFIC AVE ANAHEIM CA 92804 $105,684.27
600091505 SANDOVAL 10457 STANFORD AVENUE SOUTH GATE CA 90280 $153,806.77
600091506 PAREDES 3147 CHEROKEE AVENUE SOUTH GATE CA 90280 $147,671.37
600091507 FLAVIN 17120 GERMAIN STREET LOS ANGELES CA 91344 $104,936.39
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091493 BALMER 8.750 .250 8.500 .0500 8.450 09/01/2027
600091494 KRIEGBAU 8.500 .250 8.250 .0500 8.200 10/01/2027
600091495 ESQUIBEL 8.750 .250 8.500 .0500 8.450 10/01/2027
600091496 HERRERA 8.500 .250 8.250 .0500 8.200 10/01/2027
600091497 FERGUSON 8.250 .250 8.000 .0500 7.950 10/01/2027
600091498 HOLLINGS 9.000 .250 8.750 .0500 8.700 10/01/2027
600091499 MERZ 8.375 .250 8.125 .0500 8.075 10/01/2027
600091500 FULLWOOD 8.625 .250 8.375 .0500 8.325 10/01/2027
600091502 WALKER 8.375 .250 8.125 .0500 8.075 10/01/2027
600091503 SORENSEN 7.875 .250 7.625 .0500 7.575 10/01/2027
600091504 RETA 8.375 .250 8.125 .0500 8.075 10/01/2027
600091505 SANDOVAL 8.500 .250 8.250 .0500 8.200 10/01/2027
600091506 PAREDES 9.125 .250 8.875 .0500 8.825 10/01/2027
600091507 FLAVIN 8.500 .250 8.250 .0500 8.200 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091493 BALMER 6211559 $983.38 11/01/1997 360
600091494 KRIEGBAU 6212695 $430.60 11/01/1997 360
600091495 ESQUIBEL 6212757 $1,220.96 11/01/1997 360
600091496 HERRERA 6212811 $668.96 11/01/1997 360
600091497 FERGUSON 6212817 $1,592.69 11/01/1997 360
600091498 HOLLINGS 6212825 $452.20 11/01/1997 360
600091499 MERZ 6212831 $352.68 11/01/1997 360
600091500 FULLWOOD 6212850 $1,163.58 11/01/1997 360
600091502 WALKER 6214054 $595.14 7 11/01/1997 360
600091503 SORENSEN 6214081 $395.17 11/01/1997 360
600091504 RETA 6214268 $803.78 11/01/1997 360
600091505 SANDOVAL 6215391 $1,183.36 12 11/01/1997 360
600091506 PAREDES 6215504 $1,202.15 11/01/1997 360
600091507 FLAVIN 6215741 $807.36 11/01/1997 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>
600091493 BALMER .00 .00 .00 .000 .250 .300 $240,000.00 N
600091494 KRIEGBAU .00 .00 .00 .000 .250 .300 $84,000.00 N
600091495 ESQUIBEL .00 .00 .00 .000 .250 .300 $194,000.00 N
600091496 HERRERA .00 .00 .00 .000 .250 .300 $140,000.00 N
600091497 FERGUSON .00 .00 .00 .000 .250 .300 $266,680.00 N
600091498 HOLLINGS .00 .00 .00 .000 .250 .300 $75,000.00 N
600091499 MERZ .00 .00 .00 .000 .250 .300 $58,000.00 N
600091500 FULLWOOD .00 .00 .00 .000 .250 .300 $187,000.00 N
600091502 WALKER .00 .00 .00 .000 .250 .300 $87,000.00 N
600091503 SORENSEN .00 .00 .00 .000 .250 .300 $75,000.00 N
600091504 RETA .00 .00 .00 .000 .250 .300 $141,000.00 N
600091505 SANDOVAL .00 .00 .00 .000 .250 .300 $162,000.00 N
600091506 PAREDES .00 .00 .00 .000 .250 .300 $197,000.00 N
600091507 FLAVIN .00 .00 .00 .000 .250 .300 $140,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 156
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091508 HINES 1384 OAK DRIVE EUGENE OR 97404 $125,721.81
600091510 HOGAN 18328 S AIRPORT WAY MANTECA CA 95337 $179,396.72
600091512 KHAMBHAI 26002 MONTE ROYALE DR MISSION VIEJO CA 92692 $191,871.17
600091513 LAMPASON 569 MOUNTAIN VIEW STREET ALTADENA CA 91001 $66,714.48
600091515 CLEVE 804 COUNTRY CLUB DR PRESCOTT AZ 86303 $71,958.57
600091517 BRIDGEMA 7145 NORTH 57TH AVENUE GLENDALE AZ 85301 $52,139.72
600091519 SPENCER 10149 SUN VALLEY DR RANCHO CUCAMONG CA 91737 $209,859.09
600091520 KISTLER 4640 W POLO CREEK COURT FRESNO CA 93722 $109,528.30
600091521 SMITH 542 VIA LA BARRANCA ARROYO GRANDE CA 93420 $139,925.49
600091522 HALLETT 1753 EAGLE HEIGHTS DR EAGLE POINT OR 97524 $102,684.48
600091524 GRIFFIN 5308 TRACI DR SANTA BARBARA CA 93111 $141,266.54
600091526 QOZI 10160 CLAUSER STREET SAN DIEGO CA 92126 $133,310.95
600091527 WITMAYER 12596 SALMON RIVER ROAD SAN DIEGO CA 92129 $199,770.03
600091528 FOUST 1910 SUNCREST AVENUE OCEANSIDE CA 92056 $167,798.28
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091508 HINES 8.375 .250 8.125 .0500 8.075 10/01/2027
600091510 HOGAN 8.750 .250 8.500 .0500 8.450 10/01/2027
600091512 KHAMBHAI 8.000 .250 7.750 .0500 7.700 10/01/2027
600091513 LAMPASON 9.125 .250 8.875 .0500 8.825 10/01/2027
600091515 CLEVE 8.750 .250 8.500 .0500 8.450 10/01/2027
600091517 BRIDGEMA 8.750 .250 8.500 .0500 8.450 09/01/2027
600091519 SPENCER 8.000 .250 7.750 .0500 7.700 10/01/2027
600091520 KISTLER 8.125 .250 7.875 .0500 7.825 10/01/2027
600091521 SMITH 9.125 .250 8.875 .0500 8.825 10/01/2027
600091522 HALLETT 8.250 .250 8.000 .0500 7.950 10/01/2027
600091524 GRIFFIN 8.625 .250 8.375 .0500 8.325 10/01/2027
600091526 QOZI 7.750 .250 7.500 .0500 7.450 09/01/2027
600091527 WITMAYER 8.250 .250 8.000 .0500 7.950 10/01/2027
600091528 FOUST 8.500 .250 8.250 .0500 8.200 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091508 HINES 6215759 $956.17 11/01/1997 360
600091510 HOGAN 6216072 $1,412.13 11/01/1997 360
600091512 KHAMBHAI 6217056 $1,408.83 11/01/1997 360
600091513 LAMPASON 6217310 $543.10 11/01/1997 360
600091515 CLEVE 6236167 $566.43 12 11/01/1997 360
600091517 BRIDGEMA 6262696 $410.66 12 11/01/1997 360
600091519 SPENCER 6274186 $1,540.91 11/01/1997 360
600091520 KISTLER 6274953 $813.78 11/01/1997 360
600091521 SMITH 6277393 $1,139.09 11/01/1997 360
600091522 HALLETT 6282892 $771.93 11/01/1997 360
600091524 GRIFFIN 6285915 $1,099.41 11/01/1997 360
600091526 QOZI 6310288 $956.41 11/01/1997 360
600091527 WITMAYER 6310445 $1,501.79 11/01/1997 360
600091528 FOUST 6310630 $1,291.01 11/01/1997 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>
600091508 HINES .00 .00 .00 .000 .250 .300 $170,000.00 N
600091510 HOGAN .00 .00 .00 .000 .250 .300 $250,000.00 N
600091512 KHAMBHAI .00 .00 .00 .000 .250 .300 $240,000.00 N
600091513 LAMPASON .00 .00 .00 .000 .250 .300 $89,000.00 N
600091515 CLEVE .00 .00 .00 .000 .250 .300 $80,000.00 N
600091517 BRIDGEMA .00 .00 .00 .000 .250 .300 $58,000.00 N
600091519 SPENCER .00 .00 .00 .000 .250 .300 $280,000.00 N
600091520 KISTLER .00 .00 .00 .000 .250 .300 $137,000.00 N
600091521 SMITH .00 .00 .00 .000 .250 .300 $175,000.00 N
600091522 HALLETT .00 .00 .00 .000 .250 .300 $137,000.00 N
600091524 GRIFFIN .00 .00 .00 .000 .250 .300 $188,500.00 N
600091526 QOZI .00 .00 .00 .000 .250 .300 $166,900.00 N
600091527 WITMAYER .00 .00 .00 .000 .250 .300 $249,900.00 N
600091528 FOUST .00 .00 .00 .000 .250 .300 $209,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 157
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091529 NEMERSON 371 RANCHO DRIVE VENTURA CA 93003 $123,583.37
600091531 BARRETT 8755 SW LEHMAN STREET TIGARD OR 97223 $109,933.36
600091532 SKY 124 NW DELAWARE AVENUE BEND OR 97701 $54,572.32
600091533 KRAUSE 605 SE SPOKANE STREET PORTLAND OR 97202 $159,648.13
600091534 STEENSON 8913 N CALVERT AVE PORTLAND OR 97217 $81,199.50
600091535 STONE 950 SE SOUTHEAST MERRYMAN SHERWOOD OR 97140 $66,957.28
600091536 BERGH 26 NE STANTON PORTLAND OR 97212 $113,925.43
600091537 BAIRD 7790 SW ELLMAN LANE DURHAM OR 97224 $195,804.58
600091538 POLOVY 1843 N WILD HYACINTH DR TUCSON AZ 85715 $112,683.43
600091539 OWENS 6605 N HIGHWAY 89 CHINO VALLEY AZ 86323 $87,783.86
600091540 WEE SONG 519 W SPUR AVE GILBERT AZ 85233 $77,704.09
600091541 BROWN 435 N NORTH CARIBE PLACE TUCSON AZ 85710 $91,942.81
600091542 FERGUSON 14647 S COUNTRY CLUB DRIV ARIZONA CITY AZ 85223 $116,183.12
600091543 LA BARBE 115 SKYLINE DRIVE SEDONA AZ 86351 $70,953.55
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091529 NEMERSON 8.000 .250 7.750 .0500 7.700 09/01/2027
600091531 BARRETT 8.500 .250 8.250 .0500 8.200 10/01/2027
600091532 SKY 8.750 .250 8.500 .0500 8.450 10/01/2027
600091533 KRAUSE 8.250 .250 8.000 .0500 7.950 10/01/2027
600091534 STEENSON 8.375 .250 8.125 .0500 8.075 10/01/2027
600091535 STONE 8.250 .250 8.000 .0500 7.950 10/01/2027
600091536 BERGH 8.125 .250 7.875 .0500 7.825 10/01/2027
600091537 BAIRD 7.500 .250 7.250 .0500 7.200 11/01/2027
600091538 POLOVY 8.625 .250 8.375 .0500 8.325 10/01/2027
600091539 OWENS 8.500 .250 8.250 .0500 8.200 10/01/2027
600091540 WEE SONG 8.625 .250 8.375 .0500 8.325 10/01/2027
600091541 BROWN 8.375 .250 8.125 .0500 8.075 10/01/2027
600091542 FERGUSON 8.750 .250 8.500 .0500 8.450 10/01/2027
600091543 LA BARBE 8.125 .250 7.875 .0500 7.825 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091529 NEMERSON 6311465 $908.04 11/01/1997 360
600091531 BARRETT 6311761 $845.81 11/01/1997 360
600091532 SKY 6311778 $432.69 11/01/1997 360
600091533 KRAUSE 6311802 $1,200.15 11/01/1997 360
600091534 STEENSON 6311830 $617.56 11/01/1997 360
600091535 STONE 6311834 $503.35 11/01/1997 360
600091536 BERGH 6311911 $846.45 11/01/1997 360
600091537 BAIRD 6311941 $1,370.11 11/01/1997 360
600091538 POLOVY 6312028 $876.96 11/01/1997 360
600091539 OWENS 6312092 $675.88 11/01/1997 360
600091540 WEE SONG 6312134 $604.74 11/01/1997 360
600091541 BROWN 6312321 $699.27 11/01/1997 360
600091542 FERGUSON 6312337 $914.54 11/01/1997 360
600091543 LA BARBE 6312360 $527.18 11/01/1997 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>
600091529 NEMERSON .00 .00 .00 .000 .250 .300 $165,000.00 N
600091531 BARRETT .00 .00 .00 .000 .250 .300 $165,000.00 N
600091532 SKY .00 .00 .00 .000 .250 .300 $85,000.00 N
600091533 KRAUSE .00 .00 .00 .000 .250 .300 $213,000.00 N
600091534 STEENSON .00 .00 .00 .000 .250 .300 $125,000.00 N
600091535 STONE .00 .00 .00 .000 .250 .300 $127,000.00 N
600091536 BERGH .00 .00 .00 .000 .250 .300 $142,500.00 N
600091537 BAIRD .00 .00 .00 .000 .250 .300 $244,950.00 N
600091538 POLOVY .00 .00 .00 .000 .250 .300 $161,115.00 N
600091539 OWENS .00 .00 .00 .000 .250 .300 $115,000.00 N
600091540 WEE SONG .00 .00 .00 .000 .250 .300 $111,098.00 N
600091541 BROWN .00 .00 .00 .000 .250 .300 $129,900.00 N
600091542 FERGUSON .00 .00 .00 .000 .250 .300 $155,000.00 N
600091543 LA BARBE .00 .00 .00 .000 .250 .300 $245,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 158
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091544 ROBERTS 3485 SPARROW LN LAS CRUCES NM 88005 $81,701.94
600091545 GIORDANO 4526 E PINNACLE VISTA DRI PHOENIX AZ 85331 $127,414.45
600091547 ANDERSON 47834 N 30TH AVENUE PHOENIX AZ 85027 $59,963.65
600091548 AVALON 1738 W BETHANY HOME ROAD PHOENIX AZ 85015 $54,967.52
600091549 CHILDRES 19141 WEST WHITTON AVENU LITCHFIELD PARK AZ 85340 $55,289.31
600091550 BROCKELS 2929 OAK TREE DR SHOW LOW AZ 85901 $77,950.26
600091551 IHSEN 600 S DOBSON RD MESA AZ 85202 $37,329.60
600091553 PATTERSO 26 CANADA DE LOS ALAMOS ALBUQUERQUE NM 87123 $78,952.13
600091554 KINGSBUR 1949 KACHINA DRIVE PRESCOTT AZ 86301 $123,922.93
600091555 MCNAMARA 3002 W MELINDA LN PHOENIX AZ 85027 $89,598.42
600091556 GARCIA 805 FITZGERALD RD ALBUQUERQUE NM 87107 $74,956.85
600091557 PRUSEK 109 E 9TH AVENUE POST FALLS ID 83854 $60,766.79
600091558 RILEY 12286 CLAUSEN TRAIL RATHDRUM ID 83858 $88,450.38
600091559 JONES 10497 N PALISADES WAY BOISE ID 83703 $119,325.78
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091544 ROBERTS 8.500 .250 8.250 .0500 8.200 10/01/2027
600091545 GIORDANO 8.000 .250 7.750 .0500 7.700 10/01/2027
600091547 ANDERSON 8.500 .250 8.250 .0500 8.200 10/01/2027
600091548 AVALON 8.625 .250 8.375 .0500 8.325 10/01/2027
600091549 CHILDRES 9.000 .250 8.750 .0500 8.700 09/01/2027
600091550 BROCKELS 8.250 .250 8.000 .0500 7.950 10/01/2027
600091551 IHSEN 9.000 .250 8.750 .0500 8.700 10/01/2027
600091553 PATTERSO 8.500 .250 8.250 .0500 8.200 10/01/2027
600091554 KINGSBUR 8.375 .250 8.125 .0500 8.075 10/01/2027
600091555 MCNAMARA 8.750 .250 8.500 .0500 8.450 10/01/2027
600091556 GARCIA 8.750 .250 8.500 .0500 8.450 10/01/2027
600091557 PRUSEK 9.000 .250 8.750 .0500 8.700 10/01/2027
600091558 RILEY 8.875 .250 8.625 .0500 8.575 10/01/2027
600091559 JONES 8.375 .250 8.125 .0500 8.075 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091544 ROBERTS 6312392 $638.20 11/01/1997 360
600091545 GIORDANO 6312472 $935.55 11/01/1997 360
600091547 ANDERSON 6312528 $461.35 11/01/1997 360
600091548 AVALON 6312540 $427.79 11/01/1997 360
600091549 CHILDRES 6312577 $445.36 12 11/01/1997 360
600091550 BROCKELS 6312591 $585.99 11/01/1997 360
600091551 IHSEN 6312612 $300.53 2 11/01/1997 360
600091553 PATTERSO 6312628 $607.45 11/01/1997 360
600091554 KINGSBUR 6312648 $942.49 11/01/1997 360
600091555 MCNAMARA 6312654 $705.28 12 11/01/1997 360
600091556 GARCIA 6312666 $590.03 11/01/1997 360
600091557 PRUSEK 7011741 $489.21 11/01/1997 360
600091558 RILEY 7017041 $704.15 11/01/1997 360
600091559 JONES 7042140 $907.53 11/01/1997 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>
600091544 ROBERTS .00 .00 .00 .000 .250 .300 $195,000.00 N
600091545 GIORDANO .00 .00 .00 .000 .250 .300 $170,000.00 N
600091547 ANDERSON .00 .00 .00 .000 .250 .300 $145,000.00 N
600091548 AVALON .00 .00 .00 .000 .250 .300 $91,000.00 N
600091549 CHILDRES .00 .00 .00 .000 .250 .300 $61,500.00 N
600091550 BROCKELS .00 .00 .00 .000 .250 .300 $104,000.00 N
600091551 IHSEN .00 .00 .00 .000 .250 .300 $41,500.00 N
600091553 PATTERSO .00 .00 .00 .000 .250 .300 $110,000.00 N
600091554 KINGSBUR .00 .00 .00 .000 .250 .300 $155,000.00 N
600091555 MCNAMARA .00 .00 .00 .000 .250 .300 $100,000.00 N
600091556 GARCIA .00 .00 .00 .000 .250 .300 $95,000.00 N
600091557 PRUSEK .00 .00 .00 .000 .250 .300 $76,000.00 N
600091558 RILEY .00 .00 .00 .000 .250 .300 $142,000.00 N
600091559 JONES .00 .00 .00 .000 .250 .300 $159,245.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 159
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091560 MOSS 676 10TH STREET IDAHO FALLS ID 83404 $49,472.96
600091561 HALL 1715 SOUTH HERVEY STREET BOISE ID 83705 $116,108.66
600091562 THOMPSON 2911 PASCOE LANE NAMPA ID 83686 $77,556.50
600091563 COLLARD 198 EAST 850 NORTH CENTERVILLE UT 84014 $120,826.76
600091564 WHITE 2025 W PARWEST DRIVE PARK CITY UT 84060 $102,992.23
600091566 ODELL 326 WEST 3450 NORTH PLEASANT VIEW UT 84414 $114,922.84
600091568 POLIAKOF 830 CARNEY STREET OGDEN UT 84403 $66,709.56
600091569 BLONQUIS 217- E 221 E 1700 SOUTH BOUNTIFUL UT 84010 $90,894.90
600091570 MILLER 5890 MEDALLION LAS VEGAS NV 89122 $35,981.34
600091571 CARL 2405 CLIFFWOOD DRIVE HENDERSON NV 89014 $97,492.41
600091572 VEGA 2105 MONTEREY AVENUE LAS VEGAS NV 89104 $89,953.34
600091575 PARK 8770 S 1480 WEST WEST JORDAN UT 84088 $102,686.14
600101348 SARKIE, JOHN 10631 TROM SNOHOMISH WA 98290 $110,177.88
600101349 STEPHENSON, PAUL 191 HIDDEN LANE VALLEY SPRINGS CA 95252 $135,732.10
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091560 MOSS 9.000 .250 8.750 .0500 8.700 10/01/2027
600091561 HALL 8.500 .250 8.250 .0500 8.200 09/01/2027
600091562 THOMPSON 8.875 .250 8.625 .0500 8.575 10/01/2027
600091563 COLLARD 8.500 .250 8.250 .0500 8.200 10/01/2027
600091564 WHITE 8.875 .250 8.625 .0500 8.575 10/01/2027
600091566 ODELL 8.000 .250 7.750 .0500 7.700 10/01/2027
600091568 POLIAKOF 8.500 .250 8.250 .0500 8.200 10/01/2027
600091569 BLONQUIS 8.750 .250 8.500 .0500 8.450 09/01/2027
600091570 MILLER 9.250 .250 9.000 .0500 8.950 10/01/2027
600091571 CARL 8.625 .250 8.375 .0500 8.325 10/01/2027
600091572 VEGA 9.250 .250 9.000 .0500 8.950 10/01/2027
600091575 PARK 8.375 .250 8.125 .0500 8.075 10/01/2027
600101348 SARKIE, JOHN 8.125 .250 7.875 .0500 7.825 10/01/2027
600101349 STEPHENSON, PAUL 8.250 .250 8.000 .0500 7.950 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>
600091560 MOSS 7046834 $398.29 2 11/01/1997 360
600091561 HALL 7073340 $893.86 11/01/1997 360
600091562 THOMPSON 7132032 $617.42 11/01/1997 360
600091563 COLLARD 7135288 $929.62 11/01/1997 360
600091564 WHITE 7137088 $819.91 7 11/01/1997 360
600091566 ODELL 7223511 $843.83 11/01/1997 360
600091568 POLIAKOF 7358211 $513.25 11/01/1997 360
600091569 BLONQUIS 7387713 $715.90 11/01/1997 360
600091570 MILLER 7408120 $296.16 11/01/1997 360
600091571 CARL 7440120 $758.73 11/01/1997 360
600091572 VEGA 7470220 $740.41 2 11/01/1997 360
600091575 PARK 7666619 $780.97 11/01/1997 360
600101348 SARKIE, JOHN 604249 $818.60 11/01/1997 360
600101349 STEPHENSON, PAUL 1044189 $1,023.69 11/01/1997 357
<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>
600091560 MOSS .00 .00 .00 .000 .250 .300 $55,000.00 N
600091561 HALL .00 .00 .00 .000 .250 .300 $155,000.00 N
600091562 THOMPSON .00 .00 .00 .000 .250 .300 $97,000.00 N
600091563 COLLARD .00 .00 .00 .000 .250 .300 $186,000.00 N
600091564 WHITE .00 .00 .00 .000 .250 .300 $114,500.00 N
600091566 ODELL .00 .00 .00 .000 .250 .300 $198,000.00 N
600091568 POLIAKOF .00 .00 .00 .000 .250 .300 $89,000.00 N
600091569 BLONQUIS .00 .00 .00 .000 .250 .300 $140,000.00 N
600091570 MILLER .00 .00 .00 .000 .250 .300 $45,000.00 N
600091571 CARL .00 .00 .00 .000 .250 .300 $121,990.00 N
600091572 VEGA .00 .00 .00 .000 .250 .300 $100,000.00 N
600091575 PARK .00 .00 .00 .000 .250 .300 $137,000.00 N
600101348 SARKIE, JOHN $147,000.00 N
600101349 STEPHENSON, PAUL $190,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 160
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600101350 MILLER, THOMAS 726 WEST AVENUE CALIMESA CA 92320 $54,966.68
600101351 VIOLAND, PAUL 2301 TRAILSIDE AUSTIN TX 78704 $116,225.84
600101352 TOOMER, DONALD 10144 SNOW CRES LAS VEGAS NV 89134 $144,008.11
600101353 MILLER, DAVID 338 BLACK HENDERSON NV 89014 $109,528.30
600101354 PASSANTINO, MARIA 2039 LAGO GRAND FORT MOHAVE AZ 86426 $108,432.56
600101355 SPILLER, ALLEAN 10424 RANDOLPH HOUSTON TX 77075 $72,000.00
600101356 POMERANTZ, BARRY 28944 RUE DANIE CANYON COUNTRY CA 91351 $130,707.68
600101357 RAGLAND, PATRICIA 31354 CORT TEMECULA CA 92592 $183,876.54
600101358 NIERI, MICHAEL 269 FERNDALE AV SOUTH SAN FRANC CA 94080 $206,118.48
600101359 BELOTE, RAMONA 8571 PAGODA WAY SAN DIEGO CA 92126 $119,923.48
600101360 SEDDON, PATRICIA 1512 SMITH LEVE CHAPEL HILL NC 27514 $99,286.65
600101361 DE SILVA, LIXYA 1031-33 LINCOLN SAN DIEGO CA 92103 $134,916.25
600101362 LARA, RICK 4935 WEST BYRON CHICAGO IL 60641 $180,274.84
600101363 NASR, MO 9400 DOLIVER DR HOUSTON TX 77063 $77,950.26
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600101350 MILLER, THOMAS 8.500 .250 8.250 .0500 8.200 10/01/2027
600101351 VIOLAND, PAUL 8.250 .250 8.000 .0500 7.950 10/01/2027
600101352 TOOMER, DONALD 8.250 .250 8.000 .0500 7.950 10/01/2027
600101353 MILLER, DAVID 8.125 .250 7.875 .0500 7.825 10/01/2027
600101354 PASSANTINO, MARIA 8.375 .250 8.125 .0500 8.075 10/01/2027
600101355 SPILLER, ALLEAN 8.375 .250 8.125 .0500 8.075 11/01/2027
600101356 POMERANTZ, BARRY 7.750 .250 7.500 .0500 7.450 10/01/2027
600101357 RAGLAND, PATRICIA 8.000 .250 7.750 .0500 7.700 10/01/2027
600101358 NIERI, MICHAEL 8.250 .250 8.000 .0500 7.950 10/01/2027
600101359 BELOTE, RAMONA 8.250 .250 8.000 .0500 7.950 10/01/2027
600101360 SEDDON, PATRICIA 8.250 .250 8.000 .0500 7.950 10/01/2027
600101361 DE SILVA, LIXYA 8.500 .250 8.250 .0500 8.200 10/01/2027
600101362 LARA, RICK 8.375 .250 8.125 .0500 8.075 09/01/2027
600101363 NASR, MO 8.250 .250 8.000 .0500 7.950 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600101350 MILLER, THOMAS 1062355 $422.90 11/01/1997 360
600101351 VIOLAND, PAUL 1062603 $873.72 11/01/1997 360
600101352 TOOMER, DONALD 1065515 $1,082.58 11/01/1997 360
600101353 MILLER, DAVID 1065937 $813.78 11/01/1997 360
600101354 PASSANTINO, MARIA 1103886 $824.68 11/01/1997 360
600101355 SPILLER, ALLEAN 1122290 $547.25 11/01/1997 360
600101356 POMERANTZ, BARRY 1129402 $937.07 11/01/1997 360
600101357 RAGLAND, PATRICIA 1138429 $1,350.13 11/01/1997 360
600101358 NIERI, MICHAEL 1172857 $1,549.49 11/01/1997 360
600101359 BELOTE, RAMONA 1181338 $901.52 11/01/1997 360
600101360 SEDDON, PATRICIA 1181627 $746.38 11/01/1997 360
600101361 DE SILVA, LIXYA 1183011 $1,038.03 11/01/1997 360
600101362 LARA, RICK 1183706 $1,371.93 1 11/01/1997 360
600101363 NASR, MO 1184514 $585.99 11/01/1997 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>
600101350 MILLER, THOMAS $100,000.00 N
600101351 VIOLAND, PAUL $156,500.00 N
600101352 TOOMER, DONALD $180,154.00 N
600101353 MILLER, DAVID $137,014.00 N
600101354 PASSANTINO, MARIA $164,000.00 N
600101355 SPILLER, ALLEAN $90,000.00 N
600101356 POMERANTZ, BARRY $163,500.00 N
600101357 RAGLAND, PATRICIA $230,000.00 N
600101358 NIERI, MICHAEL $275,000.00 N
600101359 BELOTE, RAMONA $160,000.00 N
600101360 SEDDON, PATRICIA $132,500.00 N
600101361 DE SILVA, LIXYA $210,000.00 N
600101362 LARA, RICK $190,000.00 N
600101363 NASR, MO $120,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 161
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600101364 MARSH, JR., EARL 1100 TERRAMONT ROSWELL GA 30076 $88,744.81
600101365 MAXIM, FELICIA 5912 NORTH MAPL CHICAGO IL 60659 $189,382.21
600101366 NEMTUDA, MARGARET 717 LAURIE ELLI WINTERVILLE NC 28590 $44,940.94
600101367 HANKIN, JOHN 342 VIA CAPRI HEMET CA 92544 $73,954.01
600101368 DERY, SUZANNE 2504 SONOMA CO AUSTIN TX 78733 $149,502.14
600101369 SUEN, JOHN 2819 CURTIS AVE REDWOOD CITY CA 94124 $119,846.43
600101370 LARSON, PIA 5110 MOUNTAIN B OAKLAND CA 94619 $112,424.51
600101371 KNUTSON, LINDA 7801 NORTH 44TH GLENDALE AZ 85301 $47,569.65
600101372 DARNELL, RONALD 7370 EAST FLORI DENVER CO 80231 $94,741.08
600101373 THOMAS, LAURANA 6069 BING CHERR LAS VEGAS NV 89122 $53,966.44
600101374 PELLEGRINO, RICHARD 12330 CALLE CEL GILROY CA 95020 $189,881.90
600101375 VASQUEZ, BEVERLY 3515 HONOLULU A LA CRESCENTA CA 91214 $143,905.80
600101376 DAINS, RUSSEL 1424 CASTLE CRE LAS VEGAS NV 89117 $168,615.50
600101377 Mc LOUGHLIN, JOHN 21830 CORVO WAY TOPANGA CA 90290 $213,874.69
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600101364 MARSH, JR., EARL 8.375 .250 8.125 .0500 8.075 10/01/2027
600101365 MAXIM, FELICIA 8.375 .250 8.125 .0500 8.075 10/01/2027
600101366 NEMTUDA, MARGARET 8.125 .250 7.875 .0500 7.825 10/01/2027
600101367 HANKIN, JOHN 8.375 .250 8.125 .0500 8.075 10/01/2027
600101368 DERY, SUZANNE 8.125 .250 7.875 .0500 7.825 10/01/2027
600101369 SUEN, JOHN 8.250 .250 8.000 .0500 7.950 09/01/2027
600101370 LARSON, PIA 8.000 .250 7.750 .0500 7.700 10/01/2027
600101371 KNUTSON, LINDA 8.250 .250 8.000 .0500 7.950 10/01/2027
600101372 DARNELL, RONALD 8.375 .250 8.125 .0500 8.075 10/01/2027
600101373 THOMAS, LAURANA 8.375 .250 8.125 .0500 8.075 10/01/2027
600101374 PELLEGRINO, RICHARD 8.375 .250 8.125 .0500 8.075 10/01/2027
600101375 VASQUEZ, BEVERLY 8.125 .250 7.875 .0500 7.825 10/01/2027
600101376 DAINS, RUSSEL 7.875 .250 7.625 .0500 7.575 10/01/2027
600101377 Mc LOUGHLIN, JOHN 8.250 .250 8.000 .0500 7.950 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600101364 MARSH, JR., EARL 1184647 $674.94 11/01/1997 360
600101365 MAXIM, FELICIA 1185552 $1,440.34 11/01/1997 360
600101366 NEMTUDA, MARGARET 1187533 $334.12 11/01/1997 360
600101367 HANKIN, JOHN 1187814 $562.45 11/01/1997 360
600101368 DERY, SUZANNE 1188358 $1,110.78 11/01/1997 360
600101369 SUEN, JOHN 1189430 $901.52 11/01/1997 360
600101370 LARSON, PIA 1189620 $825.49 11/01/1997 360
600101371 KNUTSON, LINDA 1191634 $357.60 11/01/1997 360
600101372 DARNELL, RONALD 1193267 $720.55 11/01/1997 360
600101373 THOMAS, LAURANA 1193945 $410.44 11/01/1997 360
600101374 PELLEGRINO, RICHARD 1194984 $1,444.14 11/01/1997 360
600101375 VASQUEZ, BEVERLY 1195452 $1,069.20 11/01/1997 360
600101376 DAINS, RUSSEL 1196229 $1,223.92 11/01/1997 360
600101377 Mc LOUGHLIN, JOHN 1196278 $1,611.47 11/01/1997 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>
600101364 MARSH, JR., EARL $111,000.00 N
600101365 MAXIM, FELICIA $254,000.00 N
600101366 NEMTUDA, MARGARET $60,000.00 N
600101367 HANKIN, JOHN $92,500.00 N
600101368 DERY, SUZANNE $199,506.00 N
600101369 SUEN, JOHN $160,000.00 N
600101370 LARSON, PIA $150,000.00 N
600101371 KNUTSON, LINDA $59,500.00 N
600101372 DARNELL, RONALD $118,500.00 N
600101373 THOMAS, LAURANA $121,000.00 N
600101374 PELLEGRINO, RICHARD $525,000.00 N
600101375 VASQUEZ, BEVERLY $180,000.00 N
600101376 DAINS, RUSSEL $211,000.00 N
600101377 Mc LOUGHLIN, JOHN $480,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 162
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600101378 REICHEL, WARNE 1254 VIA PRIVAD ESCONDIDO CA 92029 $170,890.96
600101379 CHIANG, KWAN 2110 STREAMHURS SUGAR LAND TX 77479 $98,037.45
600101380 RAPP, PATRICIA 31021 MINUTE MA WESTLAKE VILLAG CA 91361 $166,293.89
600101381 SAIZ, MARIE 7711-7713 LADOR COMMERCE CITY CO 80022 $83,847.79
600101382 ROBINSON, DAVID 5024 STONELEIGH DALLAS TX 75235 $61,749.75
600101383 RICE, MARIE 59TH WEST 8TH S PITTSBURG CA 94565 $131,917.95
600101384 HICKS, JOHN 6204 ADEL COVE AUSTIN TX 78749 $93,039.10
600101385 CHEUNG, KAI 2118 10TH AVENU OAKLAND CA 94606 $101,931.56
600101386 COX, DANNY 1904 CAMPFIRE C LEWISVILLE TX 75067 $148,702.66
600101387 KING, PERRY 4290 STUDIO STR LAS VEGAS NV 89115 $56,164.17
600101388 WU, CHAO 1285 YUKON WAY NOVATO CA 94947 $182,130.78
600101389 STREYAR, MYRON 435 SOUTH COUNT TUCSON AZ 85716 $76,547.29
600101390 NEJADEH, BIJAN 12402 ALDERBROO AUSTIN TX 78758 $89,941.12
600101391 HENDRICKSON, ROBIN 7035 CINNA SPARKS NV 89436 $162,593.57
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600101378 REICHEL, WARNE 8.250 .250 8.000 .0500 7.950 10/01/2027
600101379 CHIANG, KWAN 8.250 .250 8.000 .0500 7.950 10/01/2027
600101380 RAPP, PATRICIA 8.250 .250 8.000 .0500 7.950 10/01/2027
600101381 SAIZ, MARIE 8.375 .250 8.125 .0500 8.075 10/01/2027
600101382 ROBINSON, DAVID 8.375 .250 8.125 .0500 8.075 10/01/2027
600101383 RICE, MARIE 8.375 .250 8.125 .0500 8.075 10/01/2027
600101384 HICKS, JOHN 8.125 .250 7.875 .0500 7.825 10/01/2027
600101385 CHEUNG, KAI 8.000 .250 7.750 .0500 7.700 10/01/2027
600101386 COX, DANNY 8.125 .250 7.875 .0500 7.825 10/01/2027
600101387 KING, PERRY 8.250 .250 8.000 .0500 7.950 10/01/2027
600101388 WU, CHAO 8.125 .250 7.875 .0500 7.825 10/01/2027
600101389 STREYAR, MYRON 7.875 .250 7.625 .0500 7.575 10/01/2027
600101390 NEJADEH, BIJAN 8.125 .250 7.875 .0500 7.825 10/01/2027
600101391 HENDRICKSON, ROBIN 8.125 .250 7.875 .0500 7.825 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600101378 REICHEL, WARNE 1196344 $1,284.67 11/01/1997 360
600101379 CHIANG, KWAN 1197896 $736.99 2 11/01/1997 360
600101380 RAPP, PATRICIA 1198316 $1,250.11 11/01/1997 360
600101381 SAIZ, MARIE 1198340 $638.46 11/01/1997 360
600101382 ROBINSON, DAVID 1199090 $470.10 11/01/1997 360
600101383 RICE, MARIE 1200104 $1,003.30 11/01/1997 360
600101384 HICKS, JOHN 1200831 $691.26 11/01/1997 360
600101385 CHEUNG, KAI 1201128 $748.44 11/01/1997 360
600101386 COX, DANNY 1201763 $1,104.84 11/01/1997 360
600101387 KING, PERRY 1202183 $422.21 11/01/1997 360
600101388 WU, CHAO 1202407 $1,353.20 11/01/1997 360
600101389 STREYAR, MYRON 1203355 $555.40 11/01/1997 360
600101390 NEJADEH, BIJAN 1203819 $668.25 11/01/1997 360
600101391 HENDRICKSON, ROBIN 1204288 $1,208.04 11/01/1997 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>
600101378 REICHEL, WARNE $280,000.00 N
600101379 CHIANG, KWAN $109,000.00 N
600101380 RAPP, PATRICIA $208,000.00 N
600101381 SAIZ, MARIE $105,000.00 N
600101382 ROBINSON, DAVID $82,500.00 N
600101383 RICE, MARIE $165,000.00 N
600101384 HICKS, JOHN $116,400.00 N
600101385 CHEUNG, KAI $142,500.00 N
600101386 COX, DANNY $186,000.00 N
600101387 KING, PERRY $81,000.00 N
600101388 WU, CHAO $243,000.00 N
600101389 STREYAR, MYRON $258,000.00 N
600101390 NEJADEH, BIJAN $120,000.00 N
600101391 HENDRICKSON, ROBIN $216,954.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 163
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600101392 HOLGUIN, RENE 502 AUTUMN WILL EL PASO TX 79922 $175,093.86
600101393 POTTS, GEORGE 4575 GRANBY CIR COLORADO SPRING CO 80919 $146,895.52
600101394 GREEN, WINDSOR 7000 MILLRACE D AUSTIN TX 78724 $55,964.29
600101395 MATHISON, ROBERT 6904 MILLRACE D AUSTIN TX 78724 $55,964.29
600101396 GREEN, WINDSOR 7006 MILLRACE D AUSTIN TX 78724 $55,964.29
600101397 GREEN, WINDSOR 6910 MILLRACE D AUSTIN TX 78724 $55,964.29
600101398 GREEN, WINDSOR 6908 MILLRACE D AUSTIN TX 78724 $55,964.29
600101399 MATHISON, ROBERT 7004 MILLRACE D AUSTIN TX 78724 $55,964.29
600101400 MATHISON, ROBERT 7102 MILLRACE D AUSTIN TX 78724 $55,964.29
600101401 MATHISON, ROBERT 7002 MILLRACE D AUSTIN TX 78700 $55,964.29
600101402 SLEP, SHAWN 5165 PHOENIX ST CUMMING GA 30131 $69,153.56
600101403 DURHAM, HAROLD 1201 MILLS AVEN TAYLOR TX 76574 $33,579.65
600101404 DURHAM, HAROLD 921 WEST 5TH ST TAYLOR TX 76574 $43,973.35
600101405 AJAYI, PATRICK 2110 HILLSIDE D ROWLETT TX 75088 $135,554.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600101392 HOLGUIN, RENE 8.500 .250 8.250 .0500 8.200 10/01/2027
600101393 POTTS, GEORGE 8.000 .250 7.750 .0500 7.700 10/01/2027
600101394 GREEN, WINDSOR 8.250 .250 8.000 .0500 7.950 10/01/2027
600101395 MATHISON, ROBERT 8.250 .250 8.000 .0500 7.950 10/01/2027
600101396 GREEN, WINDSOR 8.250 .250 8.000 .0500 7.950 10/01/2027
600101397 GREEN, WINDSOR 8.250 .250 8.000 .0500 7.950 10/01/2027
600101398 GREEN, WINDSOR 8.250 .250 8.000 .0500 7.950 10/01/2027
600101399 MATHISON, ROBERT 8.250 .250 8.000 .0500 7.950 10/01/2027
600101400 MATHISON, ROBERT 8.250 .250 8.000 .0500 7.950 10/01/2027
600101401 MATHISON, ROBERT 8.250 .250 8.000 .0500 7.950 10/01/2027
600101402 SLEP, SHAWN 8.000 .250 7.750 .0500 7.700 10/01/2027
600101403 DURHAM, HAROLD 8.500 .250 8.250 .0500 8.200 10/01/2027
600101404 DURHAM, HAROLD 8.500 .250 8.250 .0500 8.200 10/01/2027
600101405 AJAYI, PATRICK 8.000 .250 7.750 .0500 7.700 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600101392 HOLGUIN, RENE 1205145 $1,347.14 11/01/1997 360
600101393 POTTS, GEORGE 1205152 $1,078.63 11/01/1997 360
600101394 GREEN, WINDSOR 1205269 $420.71 11/01/1997 360
600101395 MATHISON, ROBERT 1205277 $420.71 11/01/1997 360
600101396 GREEN, WINDSOR 1205293 $420.71 11/01/1997 360
600101397 GREEN, WINDSOR 1205301 $420.71 11/01/1997 360
600101398 GREEN, WINDSOR 1205319 $420.71 11/01/1997 360
600101399 MATHISON, ROBERT 1205335 $420.71 11/01/1997 360
600101400 MATHISON, ROBERT 1205343 $420.71 11/01/1997 360
600101401 MATHISON, ROBERT 1205350 $420.71 11/01/1997 360
600101402 SLEP, SHAWN 1205558 $507.77 11/01/1997 360
600101403 DURHAM, HAROLD 1206499 $258.35 11/01/1997 360
600101404 DURHAM, HAROLD 1206697 $338.32 11/01/1997 360
600101405 AJAYI, PATRICK 1206960 $995.35 11/01/1997 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>
600101392 HOLGUIN, RENE $219,000.00 N
600101393 POTTS, GEORGE $210,000.00 N
600101394 GREEN, WINDSOR $70,000.00 N
600101395 MATHISON, ROBERT $70,000.00 N
600101396 GREEN, WINDSOR $70,000.00 N
600101397 GREEN, WINDSOR $70,000.00 N
600101398 GREEN, WINDSOR $70,000.00 N
600101399 MATHISON, ROBERT $70,000.00 N
600101400 MATHISON, ROBERT $70,000.00 N
600101401 MATHISON, ROBERT $70,000.00 N
600101402 SLEP, SHAWN $93,000.00 N
600101403 DURHAM, HAROLD $42,000.00 N
600101404 DURHAM, HAROLD $55,000.00 N
600101405 AJAYI, PATRICK $169,618.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 164
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600101406 GUCCIARDO, JOSEPH 201 NORTH NAOMI BURBANK CA 91505 $118,924.12
600101407 DEWITT, THOMAS 2229-31 NEWPORT DENVER CO 80207 $119,923.48
600101408 MURASHIGE, CARLTON 2942 ASPENDALE RENO NV 89503 $181,328.25
600101409 EDWARDS, THOMAS 2745 STABLE HIL KERNERSVILLE NC 27284 $151,807.98
600101410 PATCH, LEE 40320 ROBIN STR FREMONT CA 94538 $155,897.95
600101411 McNEELY, BRIAN 373 WHITE TAIL LAFAYETTE CO 80026 $187,474.13
600101412 ORTIZ, TRENT 2840 LUMBERJACK COLORADO SPRING CO 80920 $206,257.96
600101413 FRANKLIN, FRANK 1302 FAIRBANKS AUSTIN TX 78752 $67,200.00
600101414 EL-KHATIB, MOHAMED 11425 EAST VASS AURORA CO 80014 $119,917.42
600101415 BRODERICK, LINDA 139 MOURSUND BL SAN ANTONIO TX 78221 $40,925.19
600101416 KENT, KYOKO 19734 SEASHORE HUNTINGTON BEAC CA 92648 $168,000.00
600101417 BURNS, LARRY 19197 EAST BELL AURORA CO 80015 $135,113.79
600101418 BISGARD, TIMI-KAY 15265 EAST CHEN AURORA CO 80015 $153,899.26
600101419 AMADO, GEORGE 1094 S. DEARBOR AURORA CO 80012 $42,774.08
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600101406 GUCCIARDO, JOSEPH 8.250 .250 8.000 .0500 7.950 10/01/2027
600101407 DEWITT, THOMAS 8.250 .250 8.000 .0500 7.950 10/01/2027
600101408 MURASHIGE, CARLTON 8.000 .250 7.750 .0500 7.700 10/01/2027
600101409 EDWARDS, THOMAS 8.500 .250 8.250 .0500 8.200 10/01/2027
600101410 PATCH, LEE 8.125 .250 7.875 .0500 7.825 10/01/2027
600101411 McNEELY, BRIAN 8.000 .250 7.750 .0500 7.700 10/01/2027
600101412 ORTIZ, TRENT 7.875 .250 7.625 .0500 7.575 10/01/2027
600101413 FRANKLIN, FRANK 8.375 .250 8.125 .0500 8.075 11/01/2027
600101414 EL-KHATIB, MOHAMED 7.875 .250 7.625 .0500 7.575 10/01/2027
600101415 BRODERICK, LINDA 8.500 .250 8.250 .0500 8.200 10/01/2027
600101416 KENT, KYOKO 8.375 .250 8.125 .0500 8.075 11/01/2027
600101417 BURNS, LARRY 8.250 .250 8.000 .0500 7.950 10/01/2027
600101418 BISGARD, TIMI-KAY 8.125 .250 7.875 .0500 7.825 10/01/2027
600101419 AMADO, GEORGE 8.500 .250 8.250 .0500 8.200 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600101406 GUCCIARDO, JOSEPH 1207182 $894.01 11/01/1997 360
600101407 DEWITT, THOMAS 1207463 $901.52 11/01/1997 360
600101408 MURASHIGE, CARLTON 1215037 $1,331.42 1 11/01/1997 360
600101409 EDWARDS, THOMAS 1233212 $1,167.98 11/01/1997 360
600101410 PATCH, LEE 1233345 $1,158.30 11/01/1997 360
600101411 McNEELY, BRIAN 1233642 $1,376.54 11/01/1997 360
600101412 ORTIZ, TRENT 1233782 $1,496.54 11/01/1997 360
600101413 FRANKLIN, FRANK 1233824 $510.77 11/01/1997 360
600101414 EL-KHATIB, MOHAMED 1234020 $870.08 11/01/1997 360
600101415 BRODERICK, LINDA 1234350 $314.87 11/01/1997 360
600101416 KENT, KYOKO 1235126 $1,276.92 11/01/1997 360
600101417 BURNS, LARRY 1235209 $1,015.71 11/01/1997 360
600101418 BISGARD, TIMI-KAY 1235290 $1,143.45 11/01/1997 360
600101419 AMADO, GEORGE 1236280 $329.09 11/01/1997 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>
600101406 GUCCIARDO, JOSEPH $152,100.00 N
600101407 DEWITT, THOMAS $150,000.00 N
600101408 MURASHIGE, CARLTON $191,000.00 N
600101409 EDWARDS, THOMAS $217,000.00 N
600101410 PATCH, LEE $195,000.00 N
600101411 McNEELY, BRIAN $268,000.00 N
600101412 ORTIZ, TRENT $258,000.00 N
600101413 FRANKLIN, FRANK $84,000.00 N
600101414 EL-KHATIB, MOHAMED $150,000.00 N
600101415 BRODERICK, LINDA $54,600.00 N
600101416 KENT, KYOKO $210,000.00 N
600101417 BURNS, LARRY $169,000.00 N
600101418 BISGARD, TIMI-KAY $206,000.00 N
600101419 AMADO, GEORGE $53,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 165
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600101420 ELYASIAN, AIDA 17909 VALERIO S RESEDA CA 91335 $143,108.69
600101421 ASHBY, HERBERT 631 OAK RUN TRA AGOURA CA 91301 $74,000.00
600101422 ALVAREZ, ARACELI 25111 CALLE PLA LAGUNA NIGUEL CA 92677 $80,749.78
600101423 VO, MUOI 1915 SPRING ROS LAWRENCEVILLE GA 30043 $152,904.90
600101424 PRZYBOROWSKI, ANDREZEJ 221 13TH STREET ST. PETERSBURG FL 33701 $150,000.00
600101425 GORMAN, JOAN 8229 HILTON HEA LAS VEGAS NV 89128 $123,200.00
600101426 YOUNAN, YOSEP 1816 WEST HOOD CHICAGO IL 60660 $77,948.98
600101427 BECKER, JUDITH 4015-4017 FOND SAN DIEGO CA 92117 $110,400.00
600101428 SALAZAR, LAURA 12244 ROBERT DA ELPASO TX 79938 $77,104.46
600101429 BLANCHARD, RICHARD 2032 SOUTH SAN GREEN VALLEY AZ 85614 $48,869.60
600101430 CROUCH, STEPHEN 526 PEARL STREE ELIZABETH CO 80107 $103,900.00
600101431 RAGAN, SEAN 9194 BLACKBIRD FOUNTAIN VALLEY CA 92708 $210,000.00
600101432 SCHAECHER, THOMAS 7080 SOUTH CLAY LITTLETON CO 80120 $118,500.00
600101433 SMITH, ROBERT 19849 KINZIE ST (CHATSWORTH ARE CA 91311 $79,948.99
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600101420 ELYASIAN, AIDA 8.250 .250 8.000 .0500 7.950 10/01/2027
600101421 ASHBY, HERBERT 7.875 .250 7.625 .0500 7.575 11/01/2027
600101422 ALVAREZ, ARACELI 8.375 .250 8.125 .0500 8.075 10/01/2027
600101423 VO, MUOI 8.375 .250 8.125 .0500 8.075 10/01/2027
600101424 PRZYBOROWSKI, ANDREZEJ 8.375 .250 8.125 .0500 8.075 11/01/2027
600101425 GORMAN, JOAN 8.375 .250 8.125 .0500 8.075 11/01/2027
600101426 YOUNAN, YOSEP 8.125 .250 7.875 .0500 7.825 10/01/2027
600101427 BECKER, JUDITH 8.000 .250 7.750 .0500 7.700 11/01/2027
600101428 SALAZAR, LAURA 8.625 .250 8.375 .0500 8.325 10/01/2027
600101429 BLANCHARD, RICHARD 8.375 .250 8.125 .0500 8.075 10/01/2027
600101430 CROUCH, STEPHEN 8.250 .250 8.000 .0500 7.950 11/01/2027
600101431 RAGAN, SEAN 8.000 .250 7.750 .0500 7.700 11/01/2027
600101432 SCHAECHER, THOMAS 7.875 .250 7.625 .0500 7.575 11/01/2027
600101433 SMITH, ROBERT 8.250 .250 8.000 .0500 7.950 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600101420 ELYASIAN, AIDA 1237155 $1,075.81 11/01/1997 360
600101421 ASHBY, HERBERT 1237163 $536.55 11/01/1997 360
600101422 ALVAREZ, ARACELI 1237387 $614.14 11/01/1997 360
600101423 VO, MUOI 1237650 $1,162.91 11/01/1997 360
600101424 PRZYBOROWSKI, ANDREZEJ 1237866 $1,140.11 11/01/1997 360
600101425 GORMAN, JOAN 1238393 $936.41 11/01/1997 360
600101426 YOUNAN, YOSEP 1240118 $579.15 11/01/1997 360
600101427 BECKER, JUDITH 1240639 $810.08 11/01/1997 360
600101428 SALAZAR, LAURA 1241181 $600.06 11/01/1997 360
600101429 BLANCHARD, RICHARD 1241298 $371.68 11/01/1997 360
600101430 CROUCH, STEPHEN 1241660 $780.57 11/01/1997 360
600101431 RAGAN, SEAN 1241686 $1,540.91 11/01/1997 360
600101432 SCHAECHER, THOMAS 1241801 $859.21 11/01/1997 360
600101433 SMITH, ROBERT 1241876 $601.01 11/01/1997 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>
600101420 ELYASIAN, AIDA $179,000.00 N
600101421 ASHBY, HERBERT $92,500.00 N
600101422 ALVAREZ, ARACELI $101,000.00 N
600101423 VO, MUOI $204,000.00 N
600101424 PRZYBOROWSKI, ANDREZEJ $200,000.00 N
600101425 GORMAN, JOAN $154,000.00 N
600101426 YOUNAN, YOSEP $138,000.00 N
600101427 BECKER, JUDITH $138,000.00 N
600101428 SALAZAR, LAURA $96,450.00 N
600101429 BLANCHARD, RICHARD $69,900.00 N
600101430 CROUCH, STEPHEN $129,900.00 N
600101431 RAGAN, SEAN $300,000.00 N
600101432 SCHAECHER, THOMAS $158,000.00 N
600101433 SMITH, ROBERT $289,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 166
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600101434 TYLER, FELICIA 2117 ARBOR CIRC BREA CA 92821 $150,000.00
600101435 SZEWCZYK, DANIEL 23546 CANERWELL NEWHALL CA 91321 $161,892.87
600101436 WARREN, JOHN 2010 STEPHEN LO ATLANTA GA 30305 $103,937.00
600101437 FARIELLO, CAROL 2021 JESSUP STR BRIGHTON CO 80601 $109,931.63
600101438 MILLER, JUDY 43 ARROWLEAF CO BOULDER CO 80304 $164,889.29
600101439 KNAPP, L. 533 WEST BELDEN CHICAGO IL 60614 $151,098.55
600101440 SHUSTERMAN, ALEKSANDR 4617 PARNELL LA PLANO TX 75025 $96,240.14
600101441 GARRETT, LAURA 6150 HIGH WOODS FORT WORTH TX 76112 $105,927.06
600101442 BEYER, MARSHA 577 SOUTH LINCO DENVER CO 80209 $167,293.26
600101443 SMITH, DANIEL 1226-28 HELIX S SPRING VALLEY CA 91977 $105,000.00
600101444 OROS, MARILYN 21 SENECA DRIVE MONTGOMERY IL 60538 $64,857.03
600101445 CHOI, EVA 2312 21ST AVENU SAN FRANCISCO CA 94116 $202,000.00
600101446 SMITH, DANIEL 1242-1246 HELIX SPRING VALLEY A CA 91977 $105,000.00
600101447 JENSEN, JANE 13220 WEST DAKO LAKEWOOD CO 80228 $104,933.05
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600101434 TYLER, FELICIA 7.875 .250 7.625 .0500 7.575 11/01/2027
600101435 SZEWCZYK, DANIEL 8.500 .250 8.250 .0500 8.200 10/01/2027
600101436 WARREN, JOHN 8.500 .250 8.250 .0500 8.200 10/01/2027
600101437 FARIELLO, CAROL 8.375 .250 8.125 .0500 8.075 10/01/2027
600101438 MILLER, JUDY 8.000 .250 7.750 .0500 7.700 10/01/2027
600101439 KNAPP, L. 8.000 .250 7.750 .0500 7.700 10/01/2027
600101440 SHUSTERMAN, ALEKSANDR 8.375 .250 8.125 .0500 8.075 10/01/2027
600101441 GARRETT, LAURA 7.875 .250 7.625 .0500 7.575 10/01/2027
600101442 BEYER, MARSHA 8.250 .250 8.000 .0500 7.950 10/01/2027
600101443 SMITH, DANIEL 8.000 .250 7.750 .0500 7.700 11/01/2027
600101444 OROS, MARILYN 8.250 .250 8.000 .0500 7.950 10/01/2027
600101445 CHOI, EVA 8.375 .250 8.125 .0500 8.075 11/01/2027
600101446 SMITH, DANIEL 8.000 .250 7.750 .0500 7.700 11/01/2027
600101447 JENSEN, JANE 8.250 .250 8.000 .0500 7.950 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600101434 TYLER, FELICIA 1241884 $1,087.60 11/01/1997 360
600101435 SZEWCZYK, DANIEL 1241918 $1,245.64 12 11/01/1997 360
600101436 WARREN, JOHN 1241934 $799.67 11/01/1997 360
600101437 FARIELLO, CAROL 1242239 $836.08 11/01/1997 360
600101438 MILLER, JUDY 1242338 $1,210.71 11/01/1997 360
600101439 KNAPP, L. 1242536 $1,109.45 11/01/1997 360
600101440 SHUSTERMAN, ALEKSANDR 1242668 $731.95 11/01/1997 360
600101441 GARRETT, LAURA 1242718 $768.57 11/01/1997 360
600101442 BEYER, MARSHA 1243047 $1,257.62 2 11/01/1997 360
600101443 SMITH, DANIEL 1243187 $770.45 11/01/1997 360
600101444 OROS, MARILYN 1243237 $487.57 18 11/01/1997 360
600101445 CHOI, EVA 1243294 $1,535.35 11/01/1997 360
600101446 SMITH, DANIEL 1243328 $770.45 11/01/1997 360
600101447 JENSEN, JANE 1243385 $788.83 11/01/1997 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>
600101434 TYLER, FELICIA $216,000.00 N
600101435 SZEWCZYK, DANIEL $180,000.00 N
600101436 WARREN, JOHN $130,000.00 N
600101437 FARIELLO, CAROL $138,500.00 N
600101438 MILLER, JUDY $405,000.00 N
600101439 KNAPP, L. $675,000.00 N
600101440 SHUSTERMAN, ALEKSANDR $120,389.00 N
600101441 GARRETT, LAURA $149,000.00 N
600101442 BEYER, MARSHA $186,000.00 N
600101443 SMITH, DANIEL $140,000.00 N
600101444 OROS, MARILYN $80,000.00 N
600101445 CHOI, EVA $285,000.00 N
600101446 SMITH, DANIEL $140,000.00 N
600101447 JENSEN, JANE $140,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 167
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600101448 NELSON, CHARLES 110 OAKWOOD BLV NEW BRAUNFELS TX 78130 $116,425.71
600101449 AMBORN, RONNIE 21172 WHITE HOR HUNTINGTON BEAC CA 92646 $200,000.00
600101450 THOMPSON, GERALD 6387 REY D SPARKS NV 89436 $136,000.00
600101451 ROBERSON, DEBRA 6231 NORTH PASC TUCSON AZ 85718 $161,799.37
600101452 PING, JO ANNE 131 TAPATIO STR HENDERSON NV 89014 $51,965.11
600101453 BAIRD, CECILIA 2504 MORELLO HE MARTINEZ CA 94553 $140,000.00
600101454 KHAN, SOHAIL 2015 SOUTH FINL LOMBARD IL 60148 $69,455.62
600101455 ADAMANY, RENEE 304 PROVIDENCE WOODSTOCK GA 30188 $95,000.00
600101456 PETTIFORD, EMMA 19427 SCOBEY AV CARSON CA 90746 $140,907.77
600101457 HAHN, OWEN 268 BRET HARTE LAKE ARROWHEAD CA 92352 $80,000.00
600101458 MATTES, MICHAEL 25055 WALNUT ST NEWHALL CA 91321 $176,250.00
600101459 FORBES, LAURIE 131 RYLER PARK DURANGO CO 81301 $126,400.00
600101460 PORTER, TODD 2832 OAK POINT JACKSONVILLE TX 75766 $63,712.36
600101461 CHOI, CHONG 2319 SOUTH GOEB ARLINGTON HEIGH IL 60005 $76,749.76
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600101448 NELSON, CHARLES 8.250 .250 8.000 .0500 7.950 10/01/2027
600101449 AMBORN, RONNIE 8.125 .250 7.875 .0500 7.825 11/01/2027
600101450 THOMPSON, GERALD 7.875 .250 7.625 .0500 7.575 11/01/2027
600101451 ROBERSON, DEBRA 8.375 .250 8.125 .0500 8.075 10/01/2027
600101452 PING, JO ANNE 8.000 .250 7.750 .0500 7.700 10/01/2027
600101453 BAIRD, CECILIA 8.125 .250 7.875 .0500 7.825 11/01/2027
600101454 KHAN, SOHAIL 8.250 .250 8.000 .0500 7.950 10/01/2027
600101455 ADAMANY, RENEE 7.750 .250 7.500 .0500 7.450 11/01/2027
600101456 PETTIFORD, EMMA 8.125 .250 7.875 .0500 7.825 10/01/2027
600101457 HAHN, OWEN 8.250 .250 8.000 .0500 7.950 11/01/2027
600101458 MATTES, MICHAEL 8.250 .250 8.000 .0500 7.950 11/01/2027
600101459 FORBES, LAURIE 8.375 .250 8.125 .0500 8.075 11/01/2027
600101460 PORTER, TODD 8.625 .250 8.375 .0500 8.325 10/01/2027
600101461 CHOI, CHONG 8.125 .250 7.875 .0500 7.825 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600101448 NELSON, CHARLES 1243427 $875.23 11/01/1997 360
600101449 AMBORN, RONNIE 1243559 $1,484.99 11/01/1997 360
600101450 THOMPSON, GERALD 1243674 $986.09 11/01/1997 360
600101451 ROBERSON, DEBRA 1244342 $1,230.56 11/01/1997 360
600101452 PING, JO ANNE 1244417 $381.56 11/01/1997 360
600101453 BAIRD, CECILIA 1244466 $1,039.50 11/01/1997 360
600101454 KHAN, SOHAIL 1244557 $522.88 11/01/1997 360
600101455 ADAMANY, RENEE 1244649 $680.59 11/01/1997 360
600101456 PETTIFORD, EMMA 1244714 $1,046.92 11/01/1997 360
600101457 HAHN, OWEN 1244763 $601.01 11/01/1997 360
600101458 MATTES, MICHAEL 1244847 $1,324.11 11/01/1997 360
600101459 FORBES, LAURIE 1245216 $960.73 11/01/1997 360
600101460 PORTER, TODD 1245240 $495.84 11/01/1997 360
600101461 CHOI, CHONG 1245364 $570.24 11/01/1997 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>
600101448 NELSON, CHARLES $166,500.00 N
600101449 AMBORN, RONNIE $260,000.00 N
600101450 THOMPSON, GERALD $340,000.00 N
600101451 ROBERSON, DEBRA $202,400.00 N
600101452 PING, JO ANNE $104,000.00 N
600101453 BAIRD, CECILIA $180,000.00 N
600101454 KHAN, SOHAIL $87,000.00 N
600101455 ADAMANY, RENEE $156,750.00 N
600101456 PETTIFORD, EMMA $188,000.00 N
600101457 HAHN, OWEN $170,000.00 N
600101458 MATTES, MICHAEL $235,000.00 N
600101459 FORBES, LAURIE $158,000.00 N
600101460 PORTER, TODD $85,000.00 N
600101461 CHOI, CHONG $96,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 168
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600101462 KIM, HYUN 8716 NORTH OZAR NILES IL 60714 $160,692.11
600101463 CAMPODONICO, ANTHONY 4319 WILKINSON STUDIO CITY CA 91604 $157,000.00
600101464 DUGGER, SR., RICHARD 909 NORTH GRANI PAYSON AZ 85541 $64,954.12
600101465 GYONGYOS, DAVID 8526 EAST SUNNY SCOTTSDALE AZ 85260 $188,673.32
600101466 WORLEY, CHRISTOPHER 5149 SOUTH DANU AURORA CO 80015 $119,915.31
600101467 NANCE, SCOTT 5249 DAKOTA AVE CASTLE ROCK CO 80104 $106,928.20
600101468 CHILDS, CHRISTINA 6847 LA VISTA D DALLAS TX 75214 $63,662.39
600101469 ARMSTRONG, DEANE 11917 FOREST LA DALLAS TX 75230 $184,885.02
600101470 GREEN, ANGELA 3318 CREEK VALL SMYRNA GA 30082 $110,400.00
600101471 BREEN, KATHRYN 422 SOUTH PASEO ANAHEIM CA 92807 $54,961.18
600101472 YIU, HONG 1923 EDGEFORT C SAN JOSE CA 95122 $154,798.67
600101473 VAGSHENIAN, GREGORY 2908 COLE STREE AUSTIN TX 78705 $165,499.68
600101474 ALLYN, STEHPANIE 2367 BATTLE DRI VILLA RICA GA 30180 $124,916.12
600101475 COSIC, SASHA 311 NORTH CARRI CHANDLER AZ 85224 $154,251.58
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600101462 KIM, HYUN 8.000 .250 7.750 .0500 7.700 10/01/2027
600101463 CAMPODONICO, ANTHONY 7.750 .250 7.500 .0500 7.450 11/01/2027
600101464 DUGGER, SR., RICHARD 7.750 .250 7.500 .0500 7.450 10/01/2027
600101465 GYONGYOS, DAVID 8.000 .250 7.750 .0500 7.700 10/01/2027
600101466 WORLEY, CHRISTOPHER 7.750 .250 7.500 .0500 7.450 10/01/2027
600101467 NANCE, SCOTT 8.000 .250 7.750 .0500 7.700 10/01/2027
600101468 CHILDS, CHRISTINA 8.625 .250 8.375 .0500 8.325 10/01/2027
600101469 ARMSTRONG, DEANE 8.375 .250 8.125 .0500 8.075 10/01/2027
600101470 GREEN, ANGELA 7.875 .250 7.625 .0500 7.575 11/01/2027
600101471 BREEN, KATHRYN 7.750 .250 7.500 .0500 7.450 10/01/2027
600101472 YIU, HONG 8.125 .250 7.875 .0500 7.825 10/01/2027
600101473 VAGSHENIAN, GREGORY 8.500 .250 8.250 .0500 8.200 10/01/2027
600101474 ALLYN, STEHPANIE 8.000 .250 7.750 .0500 7.700 10/01/2027
600101475 COSIC, SASHA 8.250 .250 8.000 .0500 7.950 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600101462 KIM, HYUN 1245380 $1,179.89 11/01/1997 360
600101463 CAMPODONICO, ANTHONY 1245547 $1,124.77 11/01/1997 360
600101464 DUGGER, SR., RICHARD 1245810 $465.67 11/01/1997 360
600101465 GYONGYOS, DAVID 1245844 $1,385.35 11/01/1997 360
600101466 WORLEY, CHRISTOPHER 1246248 $859.69 11/01/1997 360
600101467 NANCE, SCOTT 1246461 $785.13 11/01/1997 360
600101468 CHILDS, CHRISTINA 1246628 $495.45 11/01/1997 360
600101469 ARMSTRONG, DEANE 1246826 $1,406.13 11/01/1997 360
600101470 GREEN, ANGELA 1246859 $800.48 11/01/1997 360
600101471 BREEN, KATHRYN 1247238 $394.03 11/01/1997 360
600101472 YIU, HONG 1247667 $1,150.13 11/01/1997 360
600101473 VAGSHENIAN, GREGORY 1247857 $1,273.32 12 11/01/1997 360
600101474 ALLYN, STEHPANIE 1247865 $917.21 11/01/1997 360
600101475 COSIC, SASHA 1248319 $1,159.58 11/01/1997 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>
600101462 KIM, HYUN $201,000.00 N
600101463 CAMPODONICO, ANTHONY $260,000.00 N
600101464 DUGGER, SR., RICHARD $135,000.00 N
600101465 GYONGYOS, DAVID $236,000.00 N
600101466 WORLEY, CHRISTOPHER $201,250.00 N
600101467 NANCE, SCOTT $143,000.00 N
600101468 CHILDS, CHRISTINA $91,000.00 N
600101469 ARMSTRONG, DEANE $340,000.00 N
600101470 GREEN, ANGELA $138,000.00 N
600101471 BREEN, KATHRYN $216,000.00 N
600101472 YIU, HONG $227,000.00 N
600101473 VAGSHENIAN, GREGORY $184,000.00 N
600101474 ALLYN, STEHPANIE $239,000.00 N
600101475 COSIC, SASHA $192,950.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 169
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600101476 ZASLOW, NORMAN 3983 SAN AUGUST SAN DIEGO CA 92130 $111,910.44
600101477 SMITH, JILL 514 SUMMERTREE KELLER TX 76248 $111,932.15
600101478 OLVER, ZULEMA 381 SOUTH AMES LAKEWOOD CO 80226 $53,800.00
600101479 WITTKORN, T. 326 SOUTHRIDGE LONGMONT CO 80501 $60,800.00
600101480 CHAVEZ, MARY 1155 BOSTON STR AURORA CO 80010 $59,962.71
600101481 BUTTROSS, SR., DAVID 1905 WOODLAND A AUSTIN TX 78741 $88,000.00
600101482 ANGELO, JOSEPH 3162 SENTINEL C LAWRENCEVILLE GA 30043 $70,706.03
600101483 SCIBIOR-ZWEGLIN, KRYSTYNA 8970 PARKSIDE A DES PLAINES IL 60016 $70,000.00
600101484 JACKSON, GEORGE 3033 CHAMA MEAD RIO RANCHO NM 87124 $72,850.00
600101485 LEWIS, SCOTT 5725 RIDGETOP D GAINESVILLE GA 30504 $66,308.76
600101486 LOCATELLI, STEPHEN 12325 WITT ROAD POWAY CA 92064 $127,900.00
600101487 WEINZIMER, MARCY 310 EAST RIDGEL TUCSON AZ 85737 $84,000.00
600101488 PFLEPSEN, DAVID 35419 NORTH 58T CAREFREE AZ 85377 $210,000.00
600101489 WITTLER, ROGER 1960 PLYMOUTH S MOUNTAIN VIEW CA 94043 $200,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600101476 ZASLOW, NORMAN 7.125 .250 6.875 .0500 6.825 10/01/2027
600101477 SMITH, JILL 8.500 .250 8.250 .0500 8.200 10/01/2027
600101478 OLVER, ZULEMA 8.000 .250 7.750 .0500 7.700 11/01/2027
600101479 WITTKORN, T. 8.625 .250 8.375 .0500 8.325 11/01/2027
600101480 CHAVEZ, MARY 8.375 .250 8.125 .0500 8.075 10/01/2027
600101481 BUTTROSS, SR., DAVID 8.625 .250 8.375 .0500 8.325 11/01/2027
600101482 ANGELO, JOSEPH 8.375 .250 8.125 .0500 8.075 10/01/2027
600101483 SCIBIOR-ZWEGLIN, KRYSTYNA 8.375 .250 8.125 .0500 8.075 11/01/2027
600101484 JACKSON, GEORGE 8.750 .250 8.500 .0500 8.450 11/01/2027
600101485 LEWIS, SCOTT 8.375 .250 8.125 .0500 8.075 10/01/2027
600101486 LOCATELLI, STEPHEN 8.375 .250 8.125 .0500 8.075 11/01/2027
600101487 WEINZIMER, MARCY 8.125 .250 7.875 .0500 7.825 11/01/2027
600101488 PFLEPSEN, DAVID 8.250 .250 8.000 .0500 7.950 11/01/2027
600101489 WITTLER, ROGER 8.250 .250 8.000 .0500 7.950 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600101476 ZASLOW, NORMAN 1248327 $754.56 11/01/1997 360
600101477 SMITH, JILL 1248558 $861.18 11/01/1997 360
600101478 OLVER, ZULEMA 1248574 $394.77 11/01/1997 360
600101479 WITTKORN, T. 1249002 $472.90 11/01/1997 360
600101480 CHAVEZ, MARY 1249465 $456.04 11/01/1997 360
600101481 BUTTROSS, SR., DAVID 1249507 $684.45 11/01/1997 360
600101482 ANGELO, JOSEPH 1249523 $537.75 11/01/1997 360
600101483 SCIBIOR-ZWEGLIN, KRYSTYNA 1249861 $532.05 11/01/1997 360
600101484 JACKSON, GEORGE 1250018 $573.11 1 11/01/1997 360
600101485 LEWIS, SCOTT 1250166 $504.31 11/01/1997 360
600101486 LOCATELLI, STEPHEN 1250406 $972.13 11/01/1997 360
600101487 WEINZIMER, MARCY 1250679 $623.70 11/01/1997 360
600101488 PFLEPSEN, DAVID 1252220 $1,577.66 11/01/1997 360
600101489 WITTLER, ROGER 1252303 $1,502.53 11/01/1997 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>
600101476 ZASLOW, NORMAN $352,000.00 N
600101477 SMITH, JILL $178,000.00 N
600101478 OLVER, ZULEMA $67,300.00 N
600101479 WITTKORN, T. $76,000.00 N
600101480 CHAVEZ, MARY $81,000.00 N
600101481 BUTTROSS, SR., DAVID $110,000.00 N
600101482 ANGELO, JOSEPH $94,347.00 N
600101483 SCIBIOR-ZWEGLIN, KRYSTYNA $87,500.00 N
600101484 JACKSON, GEORGE $80,990.00 N
600101485 LEWIS, SCOTT $94,800.00 N
600101486 LOCATELLI, STEPHEN $159,900.00 N
600101487 WEINZIMER, MARCY $112,000.00 N
600101488 PFLEPSEN, DAVID $340,000.00 N
600101489 WITTLER, ROGER $275,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 170
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600101490 LIU, DAISY 9509 DOVE MEADO DALLAS TX 75243 $109,850.00
600101491 AMADO, GEORGE 1282 SOUTH UVAL AURORA CO 80012 $43,600.00
600101492 MIZZI, JULIE 203 SOUTH BODIN HINSDALE IL 60521 $145,100.00
600101493 FITTS, SHERRY 51 SHERWOOD LAN MARIETTA GA 30067 $80,000.00
600101494 SMITH, JEFFREY 2112- 2114 VALL SMYRNA GA 30080 $68,000.00
600104348 NEEDHAM-CHENOWETH BARBARA 3243 WHITE AVE CLIFTON CO 81520 $69,003.43
600104349 IRWIN CHRISTIE 460 SEXTON RD SEBASTOPOL CA 95472 $38,699.12
600104350 WHITAKER LINDA D 602 ALLEN ST AUSTIN TX 78702 $44,713.35
600104351 MOLINA FRANCISCO 763 BETHLYNN CT EAST MEADOW NY 91364 $119,220.88
600104352 SHARRETT DONALD 9326 GOBLIN LN EVERETT WA 98208 $96,032.28
600104353 MACCHIA EDITH 1821 PILGRIM AVE BRONX NY 10461 $153,087.03
600104354 LABONTE CLAUDE 1508 MONTGOMERY RD THOUSAND OAKS CA 91360 $193,380.77
600104359 CASEY BRYAN 28 WINNECOMAC CIR KINGS PARK NY 11754 $118,443.85
600104360 VOGT B JILL 283 18TH ST AVALON NJ 82020 $148,168.25
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600101490 LIU, DAISY 8.250 .250 8.000 .0500 7.950 11/01/2027
600101491 AMADO, GEORGE 8.500 .250 8.250 .0500 8.200 11/01/2027
600101492 MIZZI, JULIE 8.375 .250 8.125 .0500 8.075 11/01/2027
600101493 FITTS, SHERRY 7.875 .250 7.625 .0500 7.575 11/01/2027
600101494 SMITH, JEFFREY 8.375 .250 8.125 .0500 8.075 11/01/2027
600104348 NEEDHAM-CHENOWETH BARBARA 9.375 .250 9.125 .0500 9.075 07/01/2026
600104349 IRWIN CHRISTIE 8.625 .250 8.375 .0500 8.325 10/01/2026
600104350 WHITAKER LINDA D 9.750 .250 9.500 .0500 9.450 10/01/2026
600104351 MOLINA FRANCISCO 9.250 .250 9.000 .0500 8.950 11/01/2026
600104352 SHARRETT DONALD 8.500 .250 8.250 .0500 8.200 12/01/2026
600104353 MACCHIA EDITH 9.250 .250 9.000 .0500 8.950 12/01/2026
600104354 LABONTE CLAUDE 8.125 .250 7.875 .0500 7.825 01/01/2027
600104359 CASEY BRYAN 8.125 .250 7.875 .0500 7.825 04/01/2027
600104360 VOGT B JILL 7.875 .250 7.625 .0500 7.575 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>
600101490 LIU, DAISY 1252378 $825.27 11/01/1997 360
600101491 AMADO, GEORGE 1254580 $335.25 11/01/1997 360
600101492 MIZZI, JULIE 1255009 $1,102.86 11/01/1997 360
600101493 FITTS, SHERRY 1256650 $580.06 11/01/1997 360
600101494 SMITH, JEFFREY 1259019 $516.85 11/01/1997 360
600104348 NEEDHAM-CHENOWETH BARBARA 3949898 $578.90 11/01/1997 360
600104349 IRWIN CHRISTIE 3992799 $311.12 11/01/1997 360
600104350 WHITAKER LINDA D 3996394 $386.62 1 11/01/1997 360
600104351 MOLINA FRANCISCO 4005005 $987.22 11/01/1997 360
600104352 SHARRETT DONALD 4036737 $743.54 11/01/1997 360
600104353 MACCHIA EDITH 4037628 $1,266.93 11/01/1997 360
600104354 LABONTE CLAUDE 4094769 $1,447.87 11/01/1997 360
600104359 CASEY BRYAN 4142147 $883.58 11/01/1997 360
600104360 VOGT B JILL 4151379 $1,094.86 11/01/1997 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>
600101490 LIU, DAISY $146,500.00 N
600101491 AMADO, GEORGE $54,500.00 N
600101492 MIZZI, JULIE $193,500.00 N
600101493 FITTS, SHERRY $139,293.00 N
600101494 SMITH, JEFFREY $85,000.00 N
600104348 NEEDHAM-CHENOWETH BARBARA $87,000.00 N
600104349 IRWIN CHRISTIE $280,000.00 N
600104350 WHITAKER LINDA D $50,000.00 N
600104351 MOLINA FRANCISCO $160,000.00 N
600104352 SHARRETT DONALD $137,000.00 N
600104353 MACCHIA EDITH $220,000.00 N
600104354 LABONTE CLAUDE $265,000.00 N
600104359 CASEY BRYAN $170,000.00 N
600104360 VOGT B JILL $215,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 171
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104362 INGARDIA BARBARA GOLDSTEI 114 KNICKERBOCKER PLAINVIEW NY 11803 $171,395.31
600104363 KIDD L T 432- 434 E DOVER ST MILWAUKEE WI 53207 $75,512.30
600104366 KANG JUNG W 2430 8TH ST #C2 FORT LEE NJ 70240 $74,811.54
600104378 LEVIN TRUSTEE HAROLD LOUI 22317 MOBILE ST CANOGA PARK CA 91303 $126,148.30
600104380 PAPPAS CLIFFORD J 15725W VALE DR GOODYEAR AZ 85338 $154,746.59
600104383 DRISCOLL DON D 98 WILDWOOD CT QUINCY CA 95971 $49,930.95
600104386 ROBINSON DENICE K 1373 GARNET ST CORONA CA 91720 $59,865.57
600104387 GINGERICH WAYNE R 8555 AMISH PIKE PLAIN CITY OH 43064 $145,895.07
600104389 HIRSCH JAYNE H 2583 HYACINTH ST WESTBURY NY 11590 $153,414.01
600104399 KERBY FRED D 956 EVENING DEW DR LAS VEGAS NV 89110 $149,792.86
600104402 WOOD SHARON L 171 ANDOVER ST SAN FRANCISCO CA 94110 $109,818.70
600104406 ROCHA MARTIN 725 RECORD DR LOS ANGELES CA 90063 $39,976.38
600104413 GREENSPAN MYRON H 4389 IOLA DR SARASTOTA FL 34231 $76,893.65
600104415 SWARM SUSAN ANDERSON 312 WALTON WAY ROSEVILLE CA 95678 $109,928.04
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104362 INGARDIA BARBARA GOLDSTEI 8.750 .250 8.500 .0500 8.450 05/01/2027
600104363 KIDD L T 8.375 .250 8.125 .0500 8.075 05/01/2027
600104366 KANG JUNG W 8.375 .250 8.125 .0500 8.075 07/01/2027
600104378 LEVIN TRUSTEE HAROLD LOUI 7.875 .250 7.625 .0500 7.575 07/01/2027
600104380 PAPPAS CLIFFORD J 8.125 .250 7.875 .0500 7.825 09/01/2027
600104383 DRISCOLL DON D 7.875 .250 7.625 .0500 7.575 09/01/2027
600104386 ROBINSON DENICE K 7.500 .250 7.250 .0500 7.200 08/01/2027
600104387 GINGERICH WAYNE R 7.875 .250 7.625 .0500 7.575 09/01/2027
600104389 HIRSCH JAYNE H 7.625 .250 7.375 .0500 7.325 08/01/2027
600104399 KERBY FRED D 7.875 .250 7.625 .0500 7.575 09/01/2027
600104402 WOOD SHARON L 7.625 .250 7.375 .0500 7.325 09/01/2027
600104406 ROCHA MARTIN 8.625 .250 8.375 .0500 8.325 10/01/2027
600104413 GREENSPAN MYRON H 7.875 .250 7.625 .0500 7.575 09/01/2027
600104415 SWARM SUSAN ANDERSON 8.125 .250 7.875 .0500 7.825 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104362 INGARDIA BARBARA GOLDSTEI 4181947 $1,353.13 11/01/1997 360
600104363 KIDD L T 4197455 $576.14 11/01/1997 360
600104366 KANG JUNG W 4218210 $570.06 11/01/1997 360
600104378 LEVIN TRUSTEE HAROLD LOUI 8229437 $917.22 11/01/1997 360
600104380 PAPPAS CLIFFORD J 8230583 $1,150.50 13 11/01/1997 360
600104383 DRISCOLL DON D 8240483 $362.54 11/01/1997 360
600104386 ROBINSON DENICE K 8254252 $419.53 11/01/1997 360
600104387 GINGERICH WAYNE R 8256141 $1,062.23 11/01/1997 360
600104389 HIRSCH JAYNE H 8263170 $1,088.24 11/01/1997 360
600104399 KERBY FRED D 8283053 $1,087.61 11/01/1997 360
600104402 WOOD SHARON L 8291395 $778.58 11/01/1997 360
600104406 ROCHA MARTIN 8295560 $311.12 11/01/1997 360
600104413 GREENSPAN MYRON H 8298523 $558.31 11/01/1997 360
600104415 SWARM SUSAN ANDERSON 8302523 $816.75 11/01/1997 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>
600104362 INGARDIA BARBARA GOLDSTEI $215,000.00 N
600104363 KIDD L T $98,000.00 N
600104366 KANG JUNG W $100,000.00 N
600104378 LEVIN TRUSTEE HAROLD LOUI $215,000.00 N
600104380 PAPPAS CLIFFORD J $172,200.00 N
600104383 DRISCOLL DON D $160,000.00 N
600104386 ROBINSON DENICE K $130,000.00 N
600104387 GINGERICH WAYNE R $256,000.00 N
600104389 HIRSCH JAYNE H $205,000.00 N
600104399 KERBY FRED D $216,500.00 N
600104402 WOOD SHARON L $255,000.00 N
600104406 ROCHA MARTIN $100,000.00 N
600104413 GREENSPAN MYRON H $105,000.00 N
600104415 SWARM SUSAN ANDERSON $180,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 172
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104419 HANKIN ARTHUR 3350NE192ND ST NORTH MIAMI BEA FL 33180 $54,163.09
600104421 LEARY MICHAEL R 4 WAGO AVE ARMONK NY 10504 $174,904.41
600104423 MELTZER PAULA A 5612 LAS VIRGENES RD CALABASAS CA 91302 $51,962.36
600104424 WOODARD THEODORE 839E 83RD ST LOS ANGELES CA 90001 $73,946.44
600104706 NIGRO ANTHONY 2238 KENT ROAD LOWER MOREL PA 19006 $109,788.10
600104707 DIEDRICH TERRY 2540 ELDORADR SPRINGS DR LOVELAND CO 80538 $195,992.39
600104708 SWANSON MALCOLM J 6331 PERCHING AVE ST LOUIS MO 63130 $149,739.18
600104709 SOLOMON THOMAS 93 MIDLAND BLVD MAPLEWOOD NJ 07040 $86,848.74
600104710 PARK IN-BAE 1727 PEACHTREE CIRCLE WHITEHALL PA 18052 $98,866.70
600104711 MCNEILL,JR DUNCAN A 70 BARCLAY SQUARE DRIVE BRIGHTON NY 14618 $130,033.38
600104714 DENTRO,ANTHONY JU 11247 DOWNEY DRIVE GREENWELL LA 70808 $119,854.09
600104726 Carpenter, Calvin B. 5102 Englewood Avenue Yakima WA 98908 $148,308.95
600104727 Salamone, Glenn P. 1424 Albany Street Schenectady NY 12304 $44,393.11
600104728 Dickerson, Glen 531 Hall Grand Junction CO 81505 $43,628.60
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104419 HANKIN ARTHUR 8.000 .250 7.750 .0500 7.700 10/01/2027
600104421 LEARY MICHAEL R 9.000 .250 8.750 .0500 8.700 10/01/2027
600104423 MELTZER PAULA A 7.625 .250 7.375 .0500 7.325 10/01/2027
600104424 WOODARD THEODORE 7.625 .250 7.375 .0500 7.325 10/01/2027
600104706 NIGRO ANTHONY 8.250 .200 8.050 .0400 8.010 08/01/2027
600104707 DIEDRICH TERRY 8.125 .200 7.925 .0400 7.885 09/01/2027
600104708 SWANSON MALCOLM J 8.750 .200 8.550 .0400 8.510 08/01/2027
600104709 SOLOMON THOMAS 8.750 .200 8.550 .0400 8.510 08/01/2027
600104710 PARK IN-BAE 8.000 .200 7.800 .0400 7.760 09/01/2027
600104711 MCNEILL,JR DUNCAN A 8.250 .200 8.050 .0400 8.010 09/01/2027
600104714 DENTRO,ANTHONY JU 8.500 .200 8.300 .0400 8.260 09/01/2027
600104726 Carpenter, Calvin B. 8.000 .250 7.750 .0400 7.710 03/01/2017
600104727 Salamone, Glenn P. 8.250 .250 8.000 .0400 7.960 03/01/2017
600104728 Dickerson, Glen 8.875 .250 8.625 .0400 8.585 04/01/2017
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104419 HANKIN ARTHUR 8311441 $403.58 11/01/1997 360
600104421 LEARY MICHAEL R 8319287 $1,408.09 11/01/1997 360
600104423 MELTZER PAULA A 8319733 $368.06 11/01/1997 360
600104424 WOODARD THEODORE 8321184 $523.77 11/01/1997 360
600104706 NIGRO ANTHONY 6151260 $826.40 11/01/1997 360
600104707 DIEDRICH TERRY 6181226 $1,457.15 11/01/1997 360
600104708 SWANSON MALCOLM J 9590217 $1,180.06 11/01/1997 360
600104709 SOLOMON THOMAS 9901976 $684.43 11/01/1997 360
600104710 PARK IN-BAE 9962572 $726.43 11/01/1997 360
600104711 MCNEILL,JR DUNCAN A 9981318 $978.15 11/01/1997 360
600104714 DENTRO,ANTHONY JU 5473566 $922.70 11/01/1997 360
600104726 Carpenter, Calvin B. 225569 $1,258.01 11/01/1997 240
600104727 Salamone, Glenn P. 225858 $383.43 11/01/1997 240
600104728 Dickerson, Glen 229681 $393.69 11/01/1997 240
<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>
600104419 HANKIN ARTHUR $117,500.00 N
600104421 LEARY MICHAEL R $235,000.00 N
600104423 MELTZER PAULA A $137,000.00 N
600104424 WOODARD THEODORE $125,000.00 N
600104706 NIGRO ANTHONY $280,000.00 N
600104707 DIEDRICH TERRY $392,500.00 N
600104708 SWANSON MALCOLM J $294,500.00 N
600104709 SOLOMON THOMAS $163,000.00 N
600104710 PARK IN-BAE $165,000.00 N
600104711 MCNEILL,JR DUNCAN A $217,000.00 N
600104714 DENTRO,ANTHONY JU $232,500.00 N
600104726 Carpenter, Calvin B. $188,000.00 N
600104727 Salamone, Glenn P. $60,000.00 N
600104728 Dickerson, Glen $58,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 173
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104729 Conroy, John 98 B Edgwater Park Bronx NY 10465 $37,425.90
600104730 Dale, Thomas K. 120 Hui Road F Apt. No. E Lahaina HI 96761 $40,551.08
600104732 Adelman, Steven 7 Harris Road Harris NY 12742 $74,506.95
600104733 Jones, Roberta L 5300 Carriage Pine Drive Raleigh NC 27616 $49,965.59
600104734 Prego, Roberto 15412 S W 35 Terrace Miami FL 33185 $92,945.09
600104735 Smith, Alfred B. 1417 Meadow Street Metairie LA 70003 $50,686.21
600104736 Kliment, Stephen A. 3119 E. Fairmount Avenue Phoenix AZ 85018 $90,693.85
600104737 Kliment, Stephen A. 3105 E. Fairmount Avenue Phoenix AZ 85018 $90,693.85
600104738 Kliment, Stephen A 3111 E. Fairmount Avenue Phoenix AZ 85018 $90,693.85
600104739 Kliment, Stephen A. 3127 E. Fairmount Avenue Phoenix AZ 85018 $90,693.85
600104740 Kliment, Stephen A. 3121 E. Fairmount Avenue Phoenix AZ 85018 $90,693.85
600104741 Kliment, Stephen A 3115 E. Fairmount Avenue Phoenix AZ 85018 $90,693.85
600104742 Tang, Yan O. 975 Heathergreen Court Concord CA 94521 $120,000.00
600104744 Wood, Joni 4220 Excelsior Road Eureka CA 95503 $87,200.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104729 Conroy, John 8.125 .250 7.875 .0400 7.835 08/01/2027
600104730 Dale, Thomas K. 8.500 .250 8.250 .0400 8.210 05/01/2017
600104732 Adelman, Steven 8.375 .250 8.125 .0400 8.085 09/01/2027
600104733 Jones, Roberta L 7.875 .250 7.625 .0400 7.585 10/01/2027
600104734 Prego, Roberto 8.625 .250 8.375 .0400 8.335 10/01/2027
600104735 Smith, Alfred B. 8.875 .250 8.625 .0400 8.585 07/01/2017
600104736 Kliment, Stephen A. 8.875 .250 8.625 .0400 8.585 07/01/2027
600104737 Kliment, Stephen A. 8.875 .250 8.625 .0400 8.585 07/01/2027
600104738 Kliment, Stephen A 8.875 .250 8.625 .0400 8.585 07/01/2027
600104739 Kliment, Stephen A. 8.875 .250 8.625 .0400 8.585 07/01/2027
600104740 Kliment, Stephen A. 8.875 .250 8.625 .0400 8.585 07/01/2027
600104741 Kliment, Stephen A 8.875 .250 8.625 .0400 8.585 07/01/2027
600104742 Tang, Yan O. 8.250 .250 8.000 .0400 7.960 11/01/2027
600104744 Wood, Joni 8.625 .250 8.375 .0400 8.335 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104729 Conroy, John 239725 $278.44 11/01/1997 360
600104730 Dale, Thomas K. 239804 $355.38 11/01/1997 240
600104732 Adelman, Steven 244297 $567.01 11/01/1997 360
600104733 Jones, Roberta L 244796 $362.54 11/01/1997 360
600104734 Prego, Roberto 246516 $723.35 11/01/1997 360
600104735 Smith, Alfred B. 248775 $454.77 11/01/1997 240
600104736 Kliment, Stephen A. 249635 $723.25 11/01/1997 360
600104737 Kliment, Stephen A. 249637 $723.25 11/01/1997 360
600104738 Kliment, Stephen A 249641 $723.25 11/01/1997 360
600104739 Kliment, Stephen A. 249643 $723.25 11/01/1997 360
600104740 Kliment, Stephen A. 249645 $723.25 11/01/1997 360
600104741 Kliment, Stephen A 249647 $723.25 11/01/1997 360
600104742 Tang, Yan O. 249837 $901.52 11/01/1997 360
600104744 Wood, Joni 252701 $678.23 11/01/1997 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>
600104729 Conroy, John $80,000.00 N
600104730 Dale, Thomas K. $58,500.00 N
600104732 Adelman, Steven $99,500.00 N
600104733 Jones, Roberta L $112,995.00 N
600104734 Prego, Roberto $132,990.00 N
600104735 Smith, Alfred B. $68,000.00 N
600104736 Kliment, Stephen A. $113,670.00 N
600104737 Kliment, Stephen A. $113,670.00 N
600104738 Kliment, Stephen A $113,670.00 N
600104739 Kliment, Stephen A. $113,670.00 N
600104740 Kliment, Stephen A. $113,670.00 N
600104741 Kliment, Stephen A $113,670.00 N
600104742 Tang, Yan O. $433,950.00 N
600104744 Wood, Joni $109,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 174
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104745 Lopusny, Brian 22632 North 42nd Place Phoenix AZ 85024 $144,707.66
600104747 Krueger, Norman A. 1158 Perrot Street Green Bay WI 54302 $45,539.65
600104748 Tevis, Richard Dale 1347 Southwest Blvd #f Rohnert Park CA 94928 $37,416.00
600104749 Moscato, Pasquale 97 South Montgomery Stree Walden NY 12586 $79,900.20
600104750 Brixius, Peter F. 269 Honeysuckle Casper WY 82604 $73,372.23
600104751 Mcconnell, Bonne Sue 1313 & 1313 1/2 Maple Str Marysville CA 95901 $48,000.00
600104752 Marino, Jerald J 2372 East Clarene Street Meridian ID 83642 $39,937.41
600104753 Delgado, Narciso R. 3913 Valley Forge Avenue Las Vegas NV 89110 $48,667.39
600104754 Goldfarb, Erwin 307 West Columbia Champaign IL 61820 $49,416.11
600104755 Sowder, John G 8629 Old Elam Cemetary Ro Charles City VA 23030 $37,650.49
600104756 Giancursio, Anthony J 1100 South Clinton Avenue Rochester NY 14620 $22,485.66
600104757 May, Sandra L. 815 North Creek Road Greenfield Cent NY 12833 $79,948.99
600104758 Velez, Raul 275 Pine Street Jersey City NJ 07304 $40,000.00
600104762 Ceballos, Miguel A. 2093 Iola Street Aurora CO 80010 $49,636.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104745 Lopusny, Brian 8.250 .250 8.000 .0400 7.960 10/01/2027
600104747 Krueger, Norman A. 8.875 .250 8.625 .0400 8.585 08/01/2017
600104748 Tevis, Richard Dale 7.500 .250 7.250 .0400 7.210 08/01/2027
600104749 Moscato, Pasquale 8.375 .250 8.125 .0400 8.085 09/01/2027
600104750 Brixius, Peter F. 8.750 .250 8.500 .0400 8.460 08/01/2027
600104751 Mcconnell, Bonne Sue 8.750 .250 8.500 .0400 8.460 11/01/2027
600104752 Marino, Jerald J 7.250 .250 7.000 .0400 6.960 09/01/2027
600104753 Delgado, Narciso R. 8.875 .250 8.625 .0400 8.585 08/01/2027
600104754 Goldfarb, Erwin 8.875 .250 8.625 .0400 8.585 08/01/2027
600104755 Sowder, John G 8.125 .250 7.875 .0400 7.835 09/01/2027
600104756 Giancursio, Anthony J 8.250 .250 8.000 .0400 7.960 10/01/2027
600104757 May, Sandra L. 8.250 .250 8.000 .0400 7.960 10/01/2027
600104758 Velez, Raul 8.625 .250 8.375 .0400 8.335 11/01/2027
600104762 Ceballos, Miguel A. 8.750 .250 8.500 .0400 8.460 09/01/2017
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104745 Lopusny, Brian 252719 $1,087.84 11/01/1997 360
600104747 Krueger, Norman A. 254386 $407.96 11/01/1997 240
600104748 Tevis, Richard Dale 254637 $262.21 11/01/1997 360
600104749 Moscato, Pasquale 255219 $608.06 11/01/1997 360
600104750 Brixius, Peter F. 255990 $578.22 11/01/1997 360
600104751 Mcconnell, Bonne Sue 256009 $377.62 11/01/1997 360
600104752 Marino, Jerald J 256080 $272.87 11/01/1997 360
600104753 Delgado, Narciso R. 257147 $387.88 11/01/1997 360
600104754 Goldfarb, Erwin 257662 $393.85 11/01/1997 360
600104755 Sowder, John G 258239 $279.93 11/01/1997 360
600104756 Giancursio, Anthony J 258505 $169.03 11/01/1997 360
600104757 May, Sandra L. 258730 $601.01 11/01/1997 360
600104758 Velez, Raul 259285 $311.12 11/01/1997 360
600104762 Ceballos, Miguel A. 260574 $440.76 11/01/1997 240
<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>
600104745 Lopusny, Brian $181,026.00 N
600104747 Krueger, Norman A. $61,000.00 N
600104748 Tevis, Richard Dale $50,000.00 N
600104749 Moscato, Pasquale $100,000.00 N
600104750 Brixius, Peter F. $98,000.00 N
600104751 Mcconnell, Bonne Sue $64,000.00 N
600104752 Marino, Jerald J $99,900.00 N
600104753 Delgado, Narciso R. $65,000.00 N
600104754 Goldfarb, Erwin $66,000.00 N
600104755 Sowder, John G $58,000.00 N
600104756 Giancursio, Anthony J $56,000.00 N
600104757 May, Sandra L. $135,000.00 N
600104758 Velez, Raul $82,000.00 N
600104762 Ceballos, Miguel A. $66,501.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 175
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104763 Mcginnis, Joseph B 216 Cedar Street Carrollton GA 30117 $139,917.34
600104764 Butler, William D 570 West Elm Street New Bedford MA 02740 $67,961.88
600104765 Velasquez, Jose Angel 1124 & 1124 1/2 D Street Salinas CA 93905 $76,000.00
600104766 McDonald, Gene C 193 Middlesex Road Rochester NY 14610 $47,072.90
600104767 Niffenegger, Dorothy 1292 N W Hwy 6 Oxford IA 52322 $66,500.00
600104769 Nicholas, Kenneth C 25755 Barclay Drive Murrieta CA 92563 $120,500.00
600104771 Roberts, Bernardo 348 60th Street Brooklyn NY 11220 $139,912.98
600104772 Collado, Juan T 2578 Hyacinth Street Westbury NY 11590 $186,886.71
600104775 Petchey, Pauline L. 64 Morning Sun Avenue Mill Valley CA 94941 $96,879.00
600104776 Webb, Betty F. 2 N. Main Street Villa Grove IL 61956 $67,462.15
600104777 O Hara, Maureen 4576 Twinning Street Los Angeles CA 90032 $41,549.29
600104779 Rutkoskie, Janet Brock 16 Senisa Way Irvine CA 92612 $94,872.08
600104780 Pereyra, Horacio David 5488 South West Alger Ave Beaverton OR 97005 $45,572.38
600104781 Brenner, Bernard 3 Forest Drive Greenwood Lake NY 10925 $79,500.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104763 Mcginnis, Joseph B 8.625 .250 8.375 .0400 8.335 10/01/2027
600104764 Butler, William D 8.875 .250 8.625 .0400 8.585 10/01/2027
600104765 Velasquez, Jose Angel 7.875 .250 7.625 .0400 7.585 11/01/2027
600104766 McDonald, Gene C 8.750 .250 8.500 .0400 8.460 10/01/2027
600104767 Niffenegger, Dorothy 8.500 .250 8.250 .0400 8.210 11/01/2027
600104769 Nicholas, Kenneth C 8.875 .250 8.625 .0400 8.585 11/01/2027
600104771 Roberts, Bernardo 8.375 .250 8.125 .0400 8.085 10/01/2027
600104772 Collado, Juan T 8.500 .250 8.250 .0400 8.210 10/01/2027
600104775 Petchey, Pauline L. 8.375 .250 8.125 .0400 8.085 09/01/2027
600104776 Webb, Betty F. 8.875 .250 8.625 .0400 8.585 10/01/2027
600104777 O Hara, Maureen 8.500 .250 8.250 .0400 8.210 09/01/2027
600104779 Rutkoskie, Janet Brock 8.000 .250 7.750 .0400 7.710 09/01/2027
600104780 Pereyra, Horacio David 8.500 .250 8.250 .0400 8.210 10/01/2027
600104781 Brenner, Bernard 8.750 .250 8.500 .0400 8.460 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104763 Mcginnis, Joseph B 260699 $1,088.91 11/01/1997 360
600104764 Butler, William D 260903 $541.04 11/01/1997 360
600104765 Velasquez, Jose Angel 260933 $551.05 11/01/1997 360
600104766 McDonald, Gene C 261158 $370.54 11/01/1997 360
600104767 Niffenegger, Dorothy 261663 $511.33 11/01/1997 360
600104769 Nicholas, Kenneth C 262362 $958.76 11/01/1997 360
600104771 Roberts, Bernardo 262657 $1,064.10 11/01/1997 360
600104772 Collado, Juan T 262782 $1,437.87 14 11/01/1997 360
600104775 Petchey, Pauline L. 263597 $737.27 11/01/1997 360
600104776 Webb, Betty F. 263648 $537.07 11/01/1997 360
600104777 O Hara, Maureen 263773 $319.87 11/01/1997 360
600104779 Rutkoskie, Janet Brock 264215 $697.08 11/01/1997 360
600104780 Pereyra, Horacio David 264267 $350.62 11/01/1997 360
600104781 Brenner, Bernard 264296 $625.43 11/01/1997 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>
600104763 Mcginnis, Joseph B $190,000.00 N
600104764 Butler, William D $111,000.00 N
600104765 Velasquez, Jose Angel $95,000.00 N
600104766 McDonald, Gene C $58,900.00 N
600104767 Niffenegger, Dorothy $115,000.00 N
600104769 Nicholas, Kenneth C $150,675.00 N
600104771 Roberts, Bernardo $175,000.00 N
600104772 Collado, Juan T $215,000.00 N
600104775 Petchey, Pauline L. $360,000.00 N
600104776 Webb, Betty F. $90,000.00 N
600104777 O Hara, Maureen $52,000.00 N
600104779 Rutkoskie, Janet Brock $220,000.00 N
600104780 Pereyra, Horacio David $57,000.00 N
600104781 Brenner, Bernard $106,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 176
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104782 Olson, David Glen 441 South 1100 West Farmington UT 84025 $164,000.00
600104783 Alonso, Luis M 30331 South West 155 Aven Homestead FL 33033 $45,573.08
600104786 Rouf, M A 4322 2nd Rd North Arlington VA 22203 $38,655.30
600104788 Olean, Judith A. 980 Player Loop SE Rio Rancho NM 87124 $140,308.16
600104789 Newton, Joan H. 3733 Climbing Rose Street Las Vegas NV 89117 $148,000.00
600104790 Files, Dale 39141 Agua Vista Murrieta CA 92563 $123,675.03
600104791 Tsai, Nancy 2279 B Via Mariposa West Laguna Hills CA 92653 $39,952.58
600104794 Mac Neil, Liddie E. 8950 South Rincon Mesa Dr Tucson AZ 85747 $47,771.04
600104795 Kuczera, Pawel 1940 Grande Circle #66 Fairfield CA 94533 $37,331.52
600104796 Benefield Jr, Guy N 600 Beavers Road Grantville GA 30220 $209,855.48
600104797 Palmisano, Robert J. 61 Gaston Street Methuen MA 01844 $42,724.77
600104798 Valdez, Ruben 7280 82 84 86 E. 74th Ave Commerce City CO 80022 $76,954.54
600104799 Ingersoll, Jeff 18590 Washington Avenue Downey ID 83234 $48,750.00
600104800 Zar, Gary F. 12124 East Kepner Place Aurora CO 80012 $34,379.16
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104782 Olson, David Glen 7.750 .250 7.500 .0400 7.460 12/01/2027
600104783 Alonso, Luis M 8.625 .250 8.375 .0400 8.335 10/01/2027
600104786 Rouf, M A 8.750 .250 8.500 .0400 8.460 09/01/2027
600104788 Olean, Judith A. 8.125 .250 7.875 .0400 7.835 10/01/2027
600104789 Newton, Joan H. 8.250 .250 8.000 .0400 7.960 11/01/2027
600104790 Files, Dale 8.500 .250 8.250 .0400 8.210 10/01/2027
600104791 Tsai, Nancy 8.625 .250 8.375 .0400 8.335 09/01/2027
600104794 Mac Neil, Liddie E. 8.500 .250 8.250 .0400 8.210 10/01/2027
600104795 Kuczera, Pawel 8.500 .250 8.250 .0400 8.210 08/01/2027
600104796 Benefield Jr, Guy N 7.875 .250 7.625 .0400 7.585 10/01/2027
600104797 Palmisano, Robert J. 8.625 .250 8.375 .0400 8.335 10/01/2027
600104798 Valdez, Ruben 8.625 .250 8.375 .0400 8.335 10/01/2027
600104799 Ingersoll, Jeff 8.250 .250 8.000 .0400 7.960 11/01/2027
600104800 Zar, Gary F. 8.500 .250 8.250 .0400 8.210 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104782 Olson, David Glen 264396 $1,174.92 11/01/1997 360
600104783 Alonso, Luis M 264584 $354.67 11/01/1997 360
600104786 Rouf, M A 264825 $304.46 12 11/01/1997 360
600104788 Olean, Judith A. 265047 $1,042.47 11/01/1997 360
600104789 Newton, Joan H. 265164 $1,111.87 11/01/1997 360
600104790 Files, Dale 265297 $951.53 11/01/1997 360
600104791 Tsai, Nancy 265390 $311.12 11/01/1997 360
600104794 Mac Neil, Liddie E. 265794 $367.54 11/01/1997 360
600104795 Kuczera, Pawel 266162 $287.58 7 11/01/1997 360
600104796 Benefield Jr, Guy N 266198 $1,522.65 11/01/1997 360
600104797 Palmisano, Robert J. 266358 $332.50 11/01/1997 360
600104798 Valdez, Ruben 266375 $598.90 11/01/1997 360
600104799 Ingersoll, Jeff 266426 $366.24 11/01/1997 360
600104800 Zar, Gary F. 266434 $264.51 11/01/1997 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>
600104782 Olson, David Glen $286,000.00 N
600104783 Alonso, Luis M $82,000.00 N
600104786 Rouf, M A $43,000.00 N
600104788 Olean, Judith A. $175,500.00 N
600104789 Newton, Joan H. $185,000.00 N
600104790 Files, Dale $165,000.00 N
600104791 Tsai, Nancy $58,000.00 N
600104794 Mac Neil, Liddie E. $97,800.00 N
600104795 Kuczera, Pawel $44,000.00 N
600104796 Benefield Jr, Guy N $360,000.00 N
600104797 Palmisano, Robert J. $57,000.00 N
600104798 Valdez, Ruben $125,000.00 N
600104799 Ingersoll, Jeff $65,000.00 N
600104800 Zar, Gary F. $43,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 177
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104801 Colatruglio, Anthony 92 Stony Brook Road Somerville NJ 08876 $146,250.00
600104803 Chin, Gan Hong 1677 86th Street Brooklyn NY 11214 $145,000.00
600104804 Parker, Scott 1545 Euclid Avenue #2L Miami Beach FL 33139 $48,721.95
600104805 Leon, Lino 12044 Silicon Avenue Chino CA 91710 $95,940.33
600104806 Jorstad, Ruby M. 8207 Vanguard Drive Denver CO 80221 $108,500.00
600104807 Frizzell, Patricia A. 6810 Beagle Run Lane Arlington TN 38002 $102,687.75
600104808 Warga, Elaine 379 Yorkshire Place Marlboro NJ 07746 $49,771.35
600104809 Heller, Cynthia Ann 503 Markgrafs Lake Alcove woodbury MN 55125 $54,964.02
600104810 Cockrill, Alison P. 409 16th Avenue East, Apt Seattle WA 98102 $44,971.31
600104812 Mehta, Usha N 6912 Remmet Avenue #1 Canoga Park CA 91303 $49,469.23
600104817 Rabinowitz, Howard L. 31 Lakeville Drive East Hills NY 11576 $182,000.00
600104818 Mancini, Antoinette 1004 Shannon Way Melville NY 11747 $42,972.59
600104819 Gallegos, Modesto F. 1320 El Llano Road Espanola NM 87532 $39,938.19
600104821 Waterbury, Michael K. 5810 Cowen Place Northeas Seattle WA 98105 $82,396.07
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104801 Colatruglio, Anthony 8.250 .250 8.000 .0400 7.960 11/01/2027
600104803 Chin, Gan Hong 7.750 .250 7.500 .0400 7.460 12/01/2027
600104804 Parker, Scott 8.750 .250 8.500 .0400 8.460 10/01/2027
600104805 Leon, Lino 8.375 .250 8.125 .0400 8.085 10/01/2027
600104806 Jorstad, Ruby M. 8.125 .250 7.875 .0400 7.835 11/01/2027
600104807 Frizzell, Patricia A. 8.500 .250 8.250 .0400 8.210 10/01/2027
600104808 Warga, Elaine 8.750 .250 8.500 .0400 8.460 10/01/2027
600104809 Heller, Cynthia Ann 8.125 .250 7.875 .0400 7.835 10/01/2027
600104810 Cockrill, Alison P. 8.250 .250 8.000 .0400 7.960 10/01/2027
600104812 Mehta, Usha N 8.375 .250 8.125 .0400 8.085 10/01/2027
600104817 Rabinowitz, Howard L. 8.375 .250 8.125 .0400 8.085 11/01/2027
600104818 Mancini, Antoinette 8.250 .250 8.000 .0400 7.960 10/01/2027
600104819 Gallegos, Modesto F. 8.750 .250 8.500 .0400 8.460 10/01/2017
600104821 Waterbury, Michael K. 8.125 .250 7.875 .0400 7.835 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104801 Colatruglio, Anthony 266690 $1,098.73 11/01/1997 360
600104803 Chin, Gan Hong 266724 $1,038.80 11/01/1997 360
600104804 Parker, Scott 266727 $383.52 11/01/1997 360
600104805 Leon, Lino 266748 $729.67 11/01/1997 360
600104806 Jorstad, Ruby M. 266773 $805.61 18 11/01/1997 360
600104807 Frizzell, Patricia A. 267086 $790.06 11/01/1997 360
600104808 Warga, Elaine 267096 $391.78 11/01/1997 360
600104809 Heller, Cynthia Ann 267318 $408.38 11/01/1997 360
600104810 Cockrill, Alison P. 267397 $338.07 11/01/1997 360
600104812 Mehta, Usha N 267653 $376.24 11/01/1997 360
600104817 Rabinowitz, Howard L. 268292 $1,383.33 11/01/1997 360
600104818 Mancini, Antoinette 268465 $323.04 11/01/1997 360
600104819 Gallegos, Modesto F. 268470 $353.48 11/01/1997 240
600104821 Waterbury, Michael K. 268607 $612.19 12 11/01/1997 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>
600104801 Colatruglio, Anthony $195,000.00 N
600104803 Chin, Gan Hong $265,000.00 N
600104804 Parker, Scott $75,000.00 N
600104805 Leon, Lino $120,000.00 N
600104806 Jorstad, Ruby M. $122,000.00 N
600104807 Frizzell, Patricia A. $137,000.00 N
600104808 Warga, Elaine $90,500.00 N
600104809 Heller, Cynthia Ann $124,075.00 N
600104810 Cockrill, Alison P. $70,000.00 N
600104812 Mehta, Usha N $66,000.00 N
600104817 Rabinowitz, Howard L. $650,000.00 N
600104818 Mancini, Antoinette $114,500.00 N
600104819 Gallegos, Modesto F. $89,000.00 N
600104821 Waterbury, Michael K. $97,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 178
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104822 Wise, Paul Route 1 Box 197-B Kirbyville TX 75956 $41,073.11
600104824 Galvin, John M. 1509 Enid Street Houston TX 77009 $78,539.53
600104825 Littleton, Dennis C 3715 Galiano Dr. Ferndale WA 98248 $41,959.30
600104827 Okikawa, Rick K 2500 S Street Sacramento CA 95816 $143,908.17
600104828 Emel, Russ W. 524 Cedar Street Drain OR 97435 $92,943.66
600104829 Zambrano Garcia, Ernesto 5202 Curry Ford Rd Unit 1 Orlando FL 32812 $43,874.73
600104830 Pugliese, Phyllis 7 Linda Place Huntington NY 11743 $88,941.78
600104831 Marshall, Peyton M. 3035 & 3037 Southeast Bel Portland OR 97214 $114,000.00
600104833 Sundra, Ian D. 705 Clearbrook Road Matthews NC 28105 $96,988.11
600104835 Cole, John 31837 Corte Priego Temecula CA 92592 $52,000.00
600104836 Riley, John C 841 Lightgleam Court Las Vegas NV 89123 $115,679.88
600104837 Zar, Gary F. 12033 East Harvard Ave. # Aurora CO 80014 $45,973.54
600104840 Boriskin, Bernard 2712 Hemingway Lane Mahwah NJ 07430 $135,000.00
600104841 West, Jonnie J. 570 Roxella Lane Unit B Las Vegas NV 89110 $45,973.54
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104822 Wise, Paul 8.125 .250 7.875 .0400 7.835 10/01/2027
600104824 Galvin, John M. 8.875 .250 8.625 .0400 8.585 10/01/2027
600104825 Littleton, Dennis C 8.500 .250 8.250 .0400 8.210 10/01/2022
600104827 Okikawa, Rick K 8.250 .250 8.000 .0400 7.960 10/01/2027
600104828 Emel, Russ W. 8.500 .250 8.250 .0400 8.210 10/01/2027
600104829 Zambrano Garcia, Ernesto 8.750 .250 8.500 .0400 8.460 10/01/2027
600104830 Pugliese, Phyllis 8.125 .250 7.875 .0400 7.835 10/01/2027
600104831 Marshall, Peyton M. 7.875 .250 7.625 .0400 7.585 11/01/2027
600104833 Sundra, Ian D. 8.250 .250 8.000 .0400 7.960 10/01/2027
600104835 Cole, John 7.500 .250 7.250 .0400 7.210 11/01/2027
600104836 Riley, John C 8.500 .250 8.250 .0400 8.210 10/01/2027
600104837 Zar, Gary F. 8.750 .250 8.500 .0400 8.460 10/01/2027
600104840 Boriskin, Bernard 8.500 .250 8.250 .0400 8.210 11/01/2027
600104841 West, Jonnie J. 8.750 .250 8.500 .0400 8.460 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104822 Wise, Paul 268823 $305.17 11/01/1997 360
600104824 Galvin, John M. 268879 $626.58 11/01/1997 360
600104825 Littleton, Dennis C 268939 $338.20 11/01/1997 300
600104827 Okikawa, Rick K 269126 $1,081.83 7 11/01/1997 360
600104828 Emel, Russ W. 269195 $715.09 11/01/1997 360
600104829 Zambrano Garcia, Ernesto 269211 $345.37 11/01/1997 360
600104830 Pugliese, Phyllis 269250 $660.82 11/01/1997 360
600104831 Marshall, Peyton M. 269254 $826.58 11/01/1997 360
600104833 Sundra, Ian D. 269319 $729.11 11/01/1997 360
600104835 Cole, John 269471 $363.60 11/01/1997 360
600104836 Riley, John C 269520 $890.02 11/01/1997 360
600104837 Zar, Gary F. 269523 $361.88 11/01/1997 360
600104840 Boriskin, Bernard 269729 $1,038.03 11/01/1997 360
600104841 West, Jonnie J. 269730 $361.88 11/01/1997 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>
600104822 Wise, Paul $68,500.00 N
600104824 Galvin, John M. $105,000.00 N
600104825 Littleton, Dennis C $52,500.00 N
600104827 Okikawa, Rick K $160,000.00 N
600104828 Emel, Russ W. $128,000.00 N
600104829 Zambrano Garcia, Ernesto $54,990.00 N
600104830 Pugliese, Phyllis $185,000.00 N
600104831 Marshall, Peyton M. $164,000.00 N
600104833 Sundra, Ian D. $137,370.00 N
600104835 Cole, John $100,000.00 N
600104836 Riley, John C $154,396.00 N
600104837 Zar, Gary F. $57,500.00 N
600104840 Boriskin, Bernard $180,000.00 N
600104841 West, Jonnie J. $58,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 179
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104842 Cacioppo, Tony 3371 Apres Ski Way Steamboat Sprin CO 80477 $39,975.76
600104843 Degraw, Jerry 843 South Roberta Street Salt Lake City UT 84111 $70,200.00
600104844 Heath, Dennis E 1200 Aloha Street Red Bluff CA 96080 $43,973.35
600104845 Mercurio, Celeste 7 Medford Lane Greenburgh NY 10583 $204,000.00
600104846 Colatruglio, Salvatore 21 Kline Boulevard New Providence NJ 07974 $159,892.65
600104849 Leong, Arthur Jr 23 Streit Avenue Poughkeepsie NY 12603 $65,956.83
600104850 Ryazanov, Alexey G. 82 Gulick Road Princeton NJ 08540 $187,392.13
600104852 Norheim, Dennis J. 25425 Manzanita Drive Idyllwild CA 92549 $87,200.00
600104853 Agrigoroae, Stanley 25426 Elderwood Lake Forest CA 92630 $208,663.41
600104854 Chase, Michael G 302 Zennia Street Austin TX 78751 $49,968.12
600104855 Ferreira, Manuel 24552 Sybil Avenue Hayward CA 94542 $154,411.11
600104856 Jubenville, Peter L 2489 Devonshire Square #4 Denver CO 80229 $41,474.86
600104858 Jones, Linda D. 6910 City Line Avenue Philadelphia PA 19151 $142,400.00
600104862 Guzman, Enrique 159 Depeyster Street Sleepy Hollow NY 10591 $194,500.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104842 Cacioppo, Tony 8.500 .250 8.250 .0400 8.210 10/01/2027
600104843 Degraw, Jerry 8.625 .250 8.375 .0400 8.335 12/01/2027
600104844 Heath, Dennis E 8.500 .250 8.250 .0400 8.210 10/01/2027
600104845 Mercurio, Celeste 8.750 .250 8.500 .0400 8.460 11/01/2027
600104846 Colatruglio, Salvatore 8.000 .250 7.750 .0400 7.710 10/01/2027
600104849 Leong, Arthur Jr 8.125 .250 7.875 .0400 7.835 10/01/2027
600104850 Ryazanov, Alexey G. 8.750 .250 8.500 .0400 8.460 10/01/2027
600104852 Norheim, Dennis J. 8.625 .250 8.375 .0400 8.335 11/01/2027
600104853 Agrigoroae, Stanley 8.125 .250 7.875 .0400 7.835 10/01/2027
600104854 Chase, Michael G 8.250 .250 8.000 .0400 7.960 10/01/2027
600104855 Ferreira, Manuel 8.750 .250 8.500 .0400 8.460 10/01/2027
600104856 Jubenville, Peter L 8.500 .250 8.250 .0400 8.210 10/01/2027
600104858 Jones, Linda D. 7.875 .250 7.625 .0400 7.585 11/01/2027
600104862 Guzman, Enrique 8.625 .250 8.375 .0400 8.335 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104842 Cacioppo, Tony 269827 $307.57 11/01/1997 360
600104843 Degraw, Jerry 269852 $546.01 11/01/1997 360
600104844 Heath, Dennis E 270066 $338.32 11/01/1997 360
600104845 Mercurio, Celeste 270084 $1,604.87 11/01/1997 360
600104846 Colatruglio, Salvatore 270088 $1,174.02 11/01/1997 360
600104849 Leong, Arthur Jr 270338 $490.05 11/01/1997 360
600104850 Ryazanov, Alexey G. 270342 $1,475.06 11/01/1997 360
600104852 Norheim, Dennis J. 270484 $678.23 11/01/1997 360
600104853 Agrigoroae, Stanley 270507 $1,550.34 11/01/1997 360
600104854 Chase, Michael G 270655 $375.63 11/01/1997 360
600104855 Ferreira, Manuel 270706 $1,215.45 11/01/1997 360
600104856 Jubenville, Peter L 270744 $319.10 7 11/01/1997 360
600104858 Jones, Linda D. 270963 $1,032.50 11/01/1997 360
600104862 Guzman, Enrique 271130 $1,512.80 11/01/1997 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>
600104842 Cacioppo, Tony $355,000.00 N
600104843 Degraw, Jerry $108,000.00 N
600104844 Heath, Dennis E $55,000.00 N
600104845 Mercurio, Celeste $255,000.00 N
600104846 Colatruglio, Salvatore $214,000.00 N
600104849 Leong, Arthur Jr $82,500.00 N
600104850 Ryazanov, Alexey G. $250,000.00 N
600104852 Norheim, Dennis J. $116,300.00 N
600104853 Agrigoroae, Stanley $261,000.00 N
600104854 Chase, Michael G $71,000.00 N
600104855 Ferreira, Manuel $206,000.00 N
600104856 Jubenville, Peter L $47,000.00 N
600104858 Jones, Linda D. $178,000.00 N
600104862 Guzman, Enrique $250,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 180
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104865 Gibbs, Dennis W 14407 Mary Jane Lane Tomball TX 77375 $45,900.00
600104868 Mazzella, Rodney 15 Sawyerkill Terrace Saugerties NY 12477 $130,000.00
600104869 Sanfilippo, Frances 1735 Grand Avenue Merrick NY 11566 $39,933.14
600104870 Mattioli, Letitia 1424 Roma Avenue Nw Albuquerque NM 87104 $71,206.83
600104872 Reis, Troy Douglas 1120 Cleghorn Drive Apt A Diamond Bar CA 91765 $109,433.67
600104873 MARTIN, LAWRENCE E. 299 Stagecoach Lane Carbondale CO 81623 $123,675.02
600104874 Hamilton, Dennis 6104 Bayne Road Coloma CA 95613 $160,000.00
600104875 Rogstad, William 100 Auhana Road, #303 Kihei HI 96753 $153,600.00
600104876 Tran, Long 605 Lewis Road San Jose CA 95111 $120,000.00
600104877 Johnson, Craig P 1283 200th Avenue Balsam Lake WI 54810 $112,500.00
600104879 Berggren, Fritz W 14195 S W 87 St Unit B212 Miami FL 33183 $40,600.00
600104880 Frederick, Curtiss S. 2869 South Bascom Avenue, San Jose CA 95008 $110,500.00
600104881 Curry, Delores A. Tbd Good Court Boise ID 83702 $106,400.00
600104882 Montgomery, Susan 12951 Hwy 93 North North Missoula MT 59802 $65,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104865 Gibbs, Dennis W 8.625 .250 8.375 .0400 8.335 11/01/2027
600104868 Mazzella, Rodney 8.125 .250 7.875 .0400 7.835 11/01/2027
600104869 Sanfilippo, Frances 8.125 .250 7.875 .0400 7.835 10/01/2017
600104870 Mattioli, Letitia 8.500 .250 8.250 .0400 8.210 10/01/2027
600104872 Reis, Troy Douglas 8.500 .250 8.250 .0400 8.210 10/01/2027
600104873 MARTIN, LAWRENCE E. 8.500 .250 8.250 .0400 8.210 10/01/2027
600104874 Hamilton, Dennis 8.500 .250 8.250 .0400 8.210 11/01/2027
600104875 Rogstad, William 7.750 .250 7.500 .0400 7.460 12/01/2027
600104876 Tran, Long 8.000 .250 7.750 .0400 7.710 11/01/2027
600104877 Johnson, Craig P 8.875 .250 8.625 .0400 8.585 11/01/2027
600104879 Berggren, Fritz W 8.500 .250 8.250 .0400 8.210 11/01/2027
600104880 Frederick, Curtiss S. 8.125 .250 7.875 .0400 7.835 11/01/2027
600104881 Curry, Delores A. 8.125 .250 7.875 .0400 7.835 12/01/2027
600104882 Montgomery, Susan 8.750 .250 8.500 .0400 8.460 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104865 Gibbs, Dennis W 271574 $357.01 11/01/1997 360
600104868 Mazzella, Rodney 271634 $965.25 11/01/1997 360
600104869 Sanfilippo, Frances 271650 $337.69 11/01/1997 240
600104870 Mattioli, Letitia 271685 $547.86 11/01/1997 360
600104872 Reis, Troy Douglas 271804 $841.96 11/01/1997 360
600104873 MARTIN, LAWRENCE E. 271871 $951.54 11/01/1997 360
600104874 Hamilton, Dennis 272028 $1,230.27 11/01/1997 360
600104875 Rogstad, William 272052 $1,100.41 11/01/1997 360
600104876 Tran, Long 272409 $880.52 11/01/1997 360
600104877 Johnson, Craig P 272435 $895.11 11/01/1997 360
600104879 Berggren, Fritz W 272522 $312.18 11/01/1997 360
600104880 Frederick, Curtiss S. 272572 $820.45 11/01/1997 360
600104881 Curry, Delores A. 272660 $790.02 11/01/1997 360
600104882 Montgomery, Susan 272663 $511.36 11/01/1997 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>
600104865 Gibbs, Dennis W $57,400.00 N
600104868 Mazzella, Rodney $162,500.00 N
600104869 Sanfilippo, Frances $140,000.00 N
600104870 Mattioli, Letitia $95,000.00 N
600104872 Reis, Troy Douglas $140,000.00 N
600104873 MARTIN, LAWRENCE E. $165,000.00 N
600104874 Hamilton, Dennis $270,000.00 N
600104875 Rogstad, William $192,000.00 N
600104876 Tran, Long $200,000.00 N
600104877 Johnson, Craig P $150,000.00 N
600104879 Berggren, Fritz W $50,750.00 N
600104880 Frederick, Curtiss S. $170,000.00 N
600104881 Curry, Delores A. $133,000.00 N
600104882 Montgomery, Susan $120,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 181
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104883 Townsend, Dennis J 78572 Currin Blvd Cottage Grove OR 97424 $49,971.23
600104884 Lau, David 4110 Sanderling Circle 34 Las Vegas NV 89103 $49,000.00
600104886 Sadler Jr, Charles D 848 Mill Creek Road Arnold MD 21012 $157,500.00
600104887 Galietta, Gabriel 2424 Broadway Schenectady NY 12306 $40,500.00
600104888 Ritchie, Brian S. 406 West Avenue G Jerome ID 83338 $45,000.00
600104891 Graham, Lewis S 80-19 167th Street Jamaica NY 11432 $100,000.00
600104892 Carter, William Ernest 700 Horton Drive Silver Spring MD 20902 $142,000.00
600104893 Barrett, Julie B. 409 Powder Mill Road Nashville TN 37205 $184,000.00
600104894 Santtia, Nestor 5641 A, B, & C Fulcher Av North Hollywood CA 91601 $176,143.22
600104895 ROOSEN, Humphrey R. 5561 Marcella Avenue Cypress CA 90630 $138,000.00
600104896 Solimano, John R. 64 Chestnut Street Cresskill NJ 07626 $140,000.00
600104899 Jager, David L. 1749 N. W. 63rd Street Seattle WA 98107 $89,400.00
600104903 Zeimet, Betty J 914 Timber Knoll Drive Matthews NC 28105 $99,886.20
600104904 Ramos, Augustin 10817 Wilmington Avenue Los Angeles CA 90059 $44,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104883 Townsend, Dennis J 8.750 .250 8.500 .0400 8.460 10/01/2027
600104884 Lau, David 8.500 .250 8.250 .0400 8.210 11/01/2027
600104886 Sadler Jr, Charles D 8.250 .250 8.000 .0400 7.960 11/01/2027
600104887 Galietta, Gabriel 8.375 .250 8.125 .0400 8.085 11/01/2027
600104888 Ritchie, Brian S. 8.625 .250 8.375 .0400 8.335 11/01/2027
600104891 Graham, Lewis S 8.125 .250 7.875 .0400 7.835 11/01/2027
600104892 Carter, William Ernest 8.250 .250 8.000 .0400 7.960 11/01/2027
600104893 Barrett, Julie B. 8.750 .250 8.500 .0400 8.460 11/01/2027
600104894 Santtia, Nestor 8.500 .250 8.250 .0400 8.210 10/01/2027
600104895 ROOSEN, Humphrey R. 8.875 .250 8.625 .0400 8.585 11/01/2027
600104896 Solimano, John R. 8.500 .250 8.250 .0400 8.210 11/01/2027
600104899 Jager, David L. 8.875 .250 8.625 .0400 8.585 11/01/2027
600104903 Zeimet, Betty J 7.875 .250 7.625 .0400 7.585 10/01/2027
600104904 Ramos, Augustin 8.875 .250 8.625 .0400 8.585 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104883 Townsend, Dennis J 272678 $393.35 11/01/1997 360
600104884 Lau, David 272723 $376.77 11/01/1997 360
600104886 Sadler Jr, Charles D 272843 $1,183.25 11/01/1997 360
600104887 Galietta, Gabriel 273021 $307.83 7 11/01/1997 360
600104888 Ritchie, Brian S. 273022 $350.01 11/01/1997 360
600104891 Graham, Lewis S 273092 $742.50 11/01/1997 360
600104892 Carter, William Ernest 273187 $1,066.80 11/01/1997 360
600104893 Barrett, Julie B. 273188 $1,447.53 11/01/1997 360
600104894 Santtia, Nestor 273237 $1,355.22 11/01/1997 360
600104895 ROOSEN, Humphrey R. 273254 $1,097.99 11/01/1997 360
600104896 Solimano, John R. 273277 $1,076.48 11/01/1997 360
600104899 Jager, David L. 273447 $711.31 11/01/1997 360
600104903 Zeimet, Betty J 273552 $724.75 11/01/1997 360
600104904 Ramos, Augustin 273554 $350.08 11/01/1997 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>
600104883 Townsend, Dennis J $88,000.00 N
600104884 Lau, David $70,000.00 N
600104886 Sadler Jr, Charles D $315,000.00 N
600104887 Galietta, Gabriel $45,000.00 N
600104888 Ritchie, Brian S. $65,000.00 N
600104891 Graham, Lewis S $188,000.00 N
600104892 Carter, William Ernest $180,000.00 N
600104893 Barrett, Julie B. $400,000.00 N
600104894 Santtia, Nestor $235,000.00 N
600104895 ROOSEN, Humphrey R. $184,000.00 N
600104896 Solimano, John R. $175,000.00 N
600104899 Jager, David L. $122,000.00 N
600104903 Zeimet, Betty J $209,955.00 N
600104904 Ramos, Augustin $55,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 182
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104905 Lacerte Jr., Onil C. 1927 Coronado View Alpine CA 91901 $49,968.12
600104907 Jimenez, Jorge 903 East 85th Street & 84 Los Angeles CA 90001 $171,000.00
600104908 Desiderio, Frank J. 399 Fluvia Avenue, S. E. Palm Bay FL 32909 $41,973.22
600104911 Nguyen, Khoi D. 3943 West Ohio Avenue, # Denver CO 80219 $40,575.40
600104913 Gorokhovsky, Vladimir 4275 West Cherrywood Lane Brown Deer WI 53223 $52,800.00
600104914 Weber, Joachim 680 Sycamore Drive Wofford Heights CA 93285 $49,970.48
600104916 Kaeppel, Glenn 188 Smithtown Polk Boulev Centereach NY 11720 $95,250.00
600104917 Farley, Carol V. 4811 Mill Park Drive Glen Allen VA 23060 $87,800.00
600104918 Smeloff, Jane E. 124 Wolf Pond Road Kingston MA 02364 $100,000.00
600104921 Purser, Van S. 1212 Kimlie Lane Decatur GA 30035 $58,165.64
600104922 Page, Lawrence 2205 Yew Street Bellingham WA 98226 $110,500.00
600104923 Green, Joseph W. 31204 S W Chia Loop Wilsonville OR 97070 $144,000.00
600104924 Page, Lawrence 2207 Yew Street Bellingham WA 98226 $110,500.00
600104925 Green, Joseph W. 8828 Kalyca Street Wilsonville OR 97070 $128,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104905 Lacerte Jr., Onil C. 8.250 .250 8.000 .0400 7.960 10/01/2027
600104907 Jimenez, Jorge 8.625 .250 8.375 .0400 8.335 11/01/2027
600104908 Desiderio, Frank J. 8.250 .250 8.000 .0400 7.960 10/01/2027
600104911 Nguyen, Khoi D. 8.500 .250 8.250 .0400 8.210 10/01/2027
600104913 Gorokhovsky, Vladimir 8.750 .250 8.500 .0400 8.460 11/01/2027
600104914 Weber, Joachim 8.625 .250 8.375 .0400 8.335 10/01/2027
600104916 Kaeppel, Glenn 8.500 .250 8.250 .0400 8.210 11/01/2027
600104917 Farley, Carol V. 8.000 .250 7.750 .0400 7.710 11/01/2027
600104918 Smeloff, Jane E. 8.625 .250 8.375 .0400 8.335 11/01/2027
600104921 Purser, Van S. 8.625 .250 8.375 .0400 8.335 10/01/2027
600104922 Page, Lawrence 8.125 .250 7.875 .0400 7.835 11/01/2027
600104923 Green, Joseph W. 8.625 .250 8.375 .0400 8.335 11/01/2027
600104924 Page, Lawrence 8.125 .250 7.875 .0400 7.835 11/01/2027
600104925 Green, Joseph W. 8.625 .250 8.375 .0400 8.335 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104905 Lacerte Jr., Onil C. 273556 $375.63 11/01/1997 360
600104907 Jimenez, Jorge 273639 $1,330.02 12 11/01/1997 360
600104908 Desiderio, Frank J. 273659 $315.53 11/01/1997 360
600104911 Nguyen, Khoi D. 273779 $312.18 11/01/1997 360
600104913 Gorokhovsky, Vladimir 273800 $415.38 11/01/1997 360
600104914 Weber, Joachim 273809 $388.90 11/01/1997 360
600104916 Kaeppel, Glenn 273890 $732.39 11/01/1997 360
600104917 Farley, Carol V. 273900 $644.25 11/01/1997 360
600104918 Smeloff, Jane E. 273948 $777.79 11/01/1997 360
600104921 Purser, Van S. 274091 $452.67 11/01/1997 360
600104922 Page, Lawrence 274323 $820.46 7 11/01/1997 360
600104923 Green, Joseph W. 274324 $1,120.02 11/01/1997 360
600104924 Page, Lawrence 274332 $820.46 7 11/01/1997 360
600104925 Green, Joseph W. 274336 $995.57 11/01/1997 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>
600104905 Lacerte Jr., Onil C. $290,000.00 N
600104907 Jimenez, Jorge $190,000.00 N
600104908 Desiderio, Frank J. $62,000.00 N
600104911 Nguyen, Khoi D. $58,000.00 N
600104913 Gorokhovsky, Vladimir $66,000.00 N
600104914 Weber, Joachim $62,500.00 N
600104916 Kaeppel, Glenn $127,000.00 N
600104917 Farley, Carol V. $109,750.00 N
600104918 Smeloff, Jane E. $270,000.00 N
600104921 Purser, Van S. $77,600.00 N
600104922 Page, Lawrence $130,000.00 N
600104923 Green, Joseph W. $180,000.00 N
600104924 Page, Lawrence $130,000.00 N
600104925 Green, Joseph W. $160,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 183
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104927 Greenwald, Fran 2518 Bay Pointe Court Fort Lauderdale FL 33327 $171,602.78
600104930 Cimarusti, Anthony N 5829 San Juan Avenue #45 Citrus Heights CA 95610 $61,600.00
600104931 Becker, Travis Duane 1110 Timber Lane Riverton WY 82501 $71,200.00
600104932 Hall, Louise K. 4839 Vir Mar Street #14 Fair Oaks CA 95628 $45,567.82
600104933 Leon, Alourdes 558 Clarke Place Uniondale NY 11553 $60,000.00
600104934 Edwards, Michael B 3224 Cotswold Avenue Las Vegas NV 89129 $95,400.00
600104935 Walsh, Jr., Joseph F. 512 First Avenue Bayport NY 11705 $137,750.00
600104936 Jacques, Lano A. 51 Southgate Road Valley Stream NY 11581 $195,300.00
600104938 Korte, Robert L 5370 Fall River Court Oroville CA 95966 $202,500.00
600104939 Van Biljouw, Peter C. 3121 Persimmon Street Antioch CA 94509 $47,850.00
600104940 Sales, Thomas Bradford 499 West Sierra Madre Bou Sierra Madre CA 91024 $209,000.00
600104943 Werner, Mitchell C. 2960 Prince Howard Dr Marietta GA 30062 $111,933.88
600104944 Sonleitner, Elizabeth 2663 East Avenue J-14 Lancaster CA 93535 $56,040.00
600104945 Yun, Joseph 1521 Astronomy Circle Las Vegas NV 89120 $74,599.41
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104927 Greenwald, Fran 8.000 .250 7.750 .0400 7.710 10/01/2027
600104930 Cimarusti, Anthony N 8.625 .250 8.375 .0400 8.335 11/01/2027
600104931 Becker, Travis Duane 8.500 .250 8.250 .0400 8.210 12/01/2027
600104932 Hall, Louise K. 7.750 .250 7.500 .0400 7.460 10/01/2027
600104933 Leon, Alourdes 8.000 .250 7.750 .0400 7.710 11/01/2027
600104934 Edwards, Michael B 8.750 .250 8.500 .0400 8.460 11/01/2027
600104935 Walsh, Jr., Joseph F. 8.250 .250 8.000 .0400 7.960 12/01/2027
600104936 Jacques, Lano A. 7.625 .250 7.375 .0400 7.335 11/01/2027
600104938 Korte, Robert L 8.250 .250 8.000 .0400 7.960 11/01/2027
600104939 Van Biljouw, Peter C. 8.625 .250 8.375 .0400 8.335 11/01/2027
600104940 Sales, Thomas Bradford 8.625 .250 8.375 .0400 8.335 11/01/2027
600104943 Werner, Mitchell C. 8.625 .250 8.375 .0400 8.335 10/01/2027
600104944 Sonleitner, Elizabeth 8.750 .250 8.500 .0400 8.460 11/01/2027
600104945 Yun, Joseph 8.000 .250 7.750 .0400 7.710 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104927 Greenwald, Fran 274385 $1,260.01 11/01/1997 360
600104930 Cimarusti, Anthony N 274465 $479.12 11/01/1997 360
600104931 Becker, Travis Duane 274525 $547.47 11/01/1997 360
600104932 Hall, Louise K. 274576 $326.68 11/01/1997 360
600104933 Leon, Alourdes 274677 $440.26 11/01/1997 360
600104934 Edwards, Michael B 274684 $750.52 18 11/01/1997 360
600104935 Walsh, Jr., Joseph F. 274700 $1,034.87 12 11/01/1997 360
600104936 Jacques, Lano A. 274729 $1,382.33 1 11/01/1997 360
600104938 Korte, Robert L 274820 $1,521.32 11/01/1997 360
600104939 Van Biljouw, Peter C. 274824 $372.18 11/01/1997 360
600104940 Sales, Thomas Bradford 274868 $1,625.58 12 11/01/1997 360
600104943 Werner, Mitchell C. 274938 $871.12 7 11/01/1997 360
600104944 Sonleitner, Elizabeth 274998 $440.87 11/01/1997 360
600104945 Yun, Joseph 275078 $548.13 11/01/1997 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>
600104927 Greenwald, Fran $248,868.00 N
600104930 Cimarusti, Anthony N $77,000.00 N
600104931 Becker, Travis Duane $89,000.00 N
600104932 Hall, Louise K. $57,000.00 N
600104933 Leon, Alourdes $134,000.00 N
600104934 Edwards, Michael B $106,000.00 N
600104935 Walsh, Jr., Joseph F. $145,000.00 N
600104936 Jacques, Lano A. $217,000.00 N
600104938 Korte, Robert L $270,000.00 N
600104939 Van Biljouw, Peter C. $63,860.00 N
600104940 Sales, Thomas Bradford $225,000.00 N
600104943 Werner, Mitchell C. $124,500.00 N
600104944 Sonleitner, Elizabeth $70,050.00 N
600104945 Yun, Joseph $123,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 184
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104946 Skweir, Patricia Donovan 1124 Gassoway Road Mckinleyville CA 95519 $75,000.00
600104949 Winward, Richard W 211 Douglas Street Bakersfield CA 93308 $48,750.00
600104950 Payne, Brenda J. 83 Raynes Neck Road York ME 03909 $130,000.00
600104951 Green, Joseph W 8834 S W Kalya Street Wilsonville OR 97070 $128,000.00
600104952 Morera, Ana 212 Claremont Avenue Jersey City NJ 07305 $104,500.00
600104954 Cracroft, Jeffery R. 453 East 800 South Salt Lake City UT 84111 $184,000.00
600104955 Sahli, Robert 10480 North Karen Avenue Ojai CA 93022 $120,000.00
600104956 Harner Sr., Robert W. & A 3315 And 3317 Helms Avenu Culver City CA 90232 $78,000.00
600104957 Dalla Valle, Mark A. 1014 East Oraibi Drive Phoenix AZ 85024 $56,550.00
600104958 Moretti, Terrence M. 4686 148th Place Southeas Bellevue WA 98006 $173,000.00
600104960 Cromer, Jim 10954 Ivy Hill Drive #5 San Diego CA 92131 $124,750.00
600104961 Gonzales, Ramon 1024 South Figueroa Stree Santa Ana CA 92704 $97,500.00
600104962 Ashley, Jerry H. 1063 River Ridge Drive Redding CA 96003 $148,000.00
600104963 Baker, Hiram R 4261 Emerald Circle Cypress CA 90630 $120,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104946 Skweir, Patricia Donovan 8.250 .250 8.000 .0400 7.960 11/01/2027
600104949 Winward, Richard W 8.625 .250 8.375 .0400 8.335 11/01/2027
600104950 Payne, Brenda J. 8.625 .250 8.375 .0400 8.335 11/01/2027
600104951 Green, Joseph W 8.625 .250 8.375 .0400 8.335 11/01/2027
600104952 Morera, Ana 8.250 .250 8.000 .0400 7.960 12/01/2027
600104954 Cracroft, Jeffery R. 8.375 .250 8.125 .0400 8.085 11/01/2027
600104955 Sahli, Robert 8.625 .250 8.375 .0400 8.335 11/01/2027
600104956 Harner Sr., Robert W. & A 8.500 .250 8.250 .0400 8.210 11/01/2027
600104957 Dalla Valle, Mark A. 8.250 .250 8.000 .0400 7.960 11/01/2027
600104958 Moretti, Terrence M. 8.250 .250 8.000 .0400 7.960 11/01/2027
600104960 Cromer, Jim 8.250 .250 8.000 .0400 7.960 11/01/2027
600104961 Gonzales, Ramon 8.500 .250 8.250 .0400 8.210 11/01/2027
600104962 Ashley, Jerry H. 8.500 .250 8.250 .0400 8.210 11/01/2027
600104963 Baker, Hiram R 8.250 .250 8.000 .0400 7.960 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104946 Skweir, Patricia Donovan 275079 $563.45 11/01/1997 360
600104949 Winward, Richard W 275236 $379.18 11/01/1997 360
600104950 Payne, Brenda J. 275335 $1,011.13 11/01/1997 360
600104951 Green, Joseph W 275346 $995.57 11/01/1997 360
600104952 Morera, Ana 275349 $785.07 7 11/01/1997 360
600104954 Cracroft, Jeffery R. 275404 $1,398.53 11/01/1997 360
600104955 Sahli, Robert 275543 $933.35 11/01/1997 360
600104956 Harner Sr., Robert W. & A 275563 $599.75 11/01/1997 360
600104957 Dalla Valle, Mark A. 275845 $424.84 11/01/1997 360
600104958 Moretti, Terrence M. 275880 $1,299.69 11/01/1997 360
600104960 Cromer, Jim 276002 $937.21 11/01/1997 360
600104961 Gonzales, Ramon 276055 $749.69 11/01/1997 360
600104962 Ashley, Jerry H. 276099 $1,137.99 11/01/1997 360
600104963 Baker, Hiram R 276208 $901.52 11/01/1997 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>
600104946 Skweir, Patricia Donovan $106,000.00 N
600104949 Winward, Richard W $65,000.00 N
600104950 Payne, Brenda J. $178,000.00 N
600104951 Green, Joseph W $160,000.00 N
600104952 Morera, Ana $110,000.00 N
600104954 Cracroft, Jeffery R. $235,000.00 N
600104955 Sahli, Robert $175,000.00 N
600104956 Harner Sr., Robert W. & A $200,000.00 N
600104957 Dalla Valle, Mark A. $70,732.00 N
600104958 Moretti, Terrence M. $260,000.00 N
600104960 Cromer, Jim $166,392.00 N
600104961 Gonzales, Ramon $130,000.00 N
600104962 Ashley, Jerry H. $185,000.00 N
600104963 Baker, Hiram R $210,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 185
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104964 Grover, Mohinderjeet S. 18758 East Linvale Circle Aurora CO 80013 $115,700.00
600104965 Bertolet, Katharine 1312 Gilbert Road Meadowbrook PA 19046 $187,200.00
600104966 Gonzales, Jr., Andres 11728 Ringwood Avenue Norwalk CA 90650 $133,000.00
600104968 Boska, Daniel 5504 West Rocky Point Dri Riverton UT 84065 $159,311.00
600104970 Salonen, Garret E. 23875 Elder Turn Excelsior MN 55331 $112,650.00
600104972 Morrow, Theresa D 20262 Billingsgate Lane # Huntington Beac CA 92646 $140,000.00
600104973 Vierra, David Mark 6205 Shadelands Drive San Jose CA 95123 $188,869.93
600104974 East, Patrick 158 Clarkson Avenue Brooklyn NY 11226 $142,500.00
600104978 Melendrez, Angel J 6844 Hollenbeck Street Huntington Park CA 90255 $175,500.00
600104979 Kuttner, Richard 7350 Greenhaven Avenue #5 Rancho Cucamong CA 91730 $92,000.00
600104980 Baharav, Dan 2370 County Road 112 Carbondale CO 81623 $138,500.00
600104981 Sullivan, Michael T. 320 North Davis Helena MT 59601 $83,850.00
600104982 Brown, Victoria 3729 Westside Avenue Los Angeles CA 90018 $105,000.00
600104983 Mireles, Silviano 425 West Alvin Avenue Santa Maria CA 93454 $52,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104964 Grover, Mohinderjeet S. 8.500 .250 8.250 .0400 8.210 11/01/2027
600104965 Bertolet, Katharine 7.375 .250 7.125 .0400 7.085 11/01/2027
600104966 Gonzales, Jr., Andres 8.500 .250 8.250 .0400 8.210 11/01/2027
600104968 Boska, Daniel 8.625 .250 8.375 .0400 8.335 09/01/2027
600104970 Salonen, Garret E. 8.375 .250 8.125 .0400 8.085 11/01/2027
600104972 Morrow, Theresa D 8.250 .250 8.000 .0400 7.960 11/01/2027
600104973 Vierra, David Mark 7.875 .250 7.625 .0400 7.585 10/01/2027
600104974 East, Patrick 8.875 .250 8.625 .0400 8.585 11/01/2027
600104978 Melendrez, Angel J 8.875 .250 8.625 .0400 8.585 11/01/2027
600104979 Kuttner, Richard 8.500 .250 8.250 .0400 8.210 11/01/2027
600104980 Baharav, Dan 8.000 .250 7.750 .0400 7.710 11/01/2027
600104981 Sullivan, Michael T. 8.375 .250 8.125 .0400 8.085 11/01/2027
600104982 Brown, Victoria 7.875 .250 7.625 .0400 7.585 11/01/2027
600104983 Mireles, Silviano 8.500 .250 8.250 .0400 8.210 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104964 Grover, Mohinderjeet S. 276247 $889.63 11/01/1997 360
600104965 Bertolet, Katharine 276260 $1,292.95 11/01/1997 360
600104966 Gonzales, Jr., Andres 276262 $1,022.65 7 11/01/1997 360
600104968 Boska, Daniel 276336 $1,240.57 11/01/1997 360
600104970 Salonen, Garret E. 276346 $856.22 11/01/1997 360
600104972 Morrow, Theresa D 276408 $1,051.77 11/01/1997 360
600104973 Vierra, David Mark 276470 $1,370.38 11/01/1997 360
600104974 East, Patrick 276514 $1,133.79 11/01/1997 360
600104978 Melendrez, Angel J 276696 $1,396.36 11/01/1997 360
600104979 Kuttner, Richard 276737 $707.40 11/01/1997 360
600104980 Baharav, Dan 276765 $1,016.27 11/01/1997 360
600104981 Sullivan, Michael T. 276810 $637.32 11/01/1997 360
600104982 Brown, Victoria 276852 $761.32 11/01/1997 360
600104983 Mireles, Silviano 276865 $399.84 11/01/1997 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>
600104964 Grover, Mohinderjeet S. $144,685.00 N
600104965 Bertolet, Katharine $234,000.00 N
600104966 Gonzales, Jr., Andres $140,000.00 N
600104968 Boska, Daniel $233,713.00 N
600104970 Salonen, Garret E. $150,200.00 N
600104972 Morrow, Theresa D $175,000.00 N
600104973 Vierra, David Mark $253,000.00 N
600104974 East, Patrick $190,000.00 N
600104978 Melendrez, Angel J $234,000.00 N
600104979 Kuttner, Richard $115,000.00 N
600104980 Baharav, Dan $360,000.00 N
600104981 Sullivan, Michael T. $129,000.00 N
600104982 Brown, Victoria $170,000.00 N
600104983 Mireles, Silviano $65,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 186
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104985 Wang, Hui Chi 151 West Wells Street San Gabriel CA 91776 $125,000.00
600104986 Ugorji, Edmund O. 1579 West 37th Street Los Angeles CA 90018 $64,800.00
600104987 Acosta, Nelso 1540 Cyrene Drive Carson CA 90746 $177,000.00
600104989 Jones, Steven 1041 Larry Court Thousand Oaks CA 91320 $209,600.00
600104990 Ewing, Thomas J. 2185 Dale Road Overgaard AZ 85933 $48,000.00
600104991 Lindusky, Martin L. 6275 Canoga Avenue #83 Woodland Hills CA 91367 $72,000.00
600104992 Drake, Peter W. 2204 Southeast Lewellyn A Troutdale OR 97060 $101,250.00
600104993 Farrington, Paul 17 Jefferson Street Worcester MA 01604 $74,957.95
600104994 Yu, Paul U. 205 Fox Hollow Drive Georgetown TX 78628 $154,550.00
600104995 Sake, Elizabeth 7508 Down Ridge Drive Austin TX 78731 $161,200.00
600104996 Gallo, Guiseppe 1000 Van Nest Avenue Bronx NY 10462 $172,250.00
600104997 Eagan, PeterJ. 8 Blueberry Lane New Preston Mar CT 06777 $148,000.00
600104998 Babb, Gerald D 8401 Fairway Drive Covington GA 30014 $147,000.00
600104999 Claice, Frank A. 3390 62.00 Road Olathe CO 81425 $114,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104985 Wang, Hui Chi 8.500 .250 8.250 .0400 8.210 11/01/2027
600104986 Ugorji, Edmund O. 8.500 .250 8.250 .0400 8.210 11/01/2027
600104987 Acosta, Nelso 8.125 .250 7.875 .0400 7.835 11/01/2027
600104989 Jones, Steven 7.250 .250 7.000 .0400 6.960 11/01/2027
600104990 Ewing, Thomas J. 8.500 .250 8.250 .0400 8.210 11/01/2027
600104991 Lindusky, Martin L. 8.375 .250 8.125 .0400 8.085 11/01/2027
600104992 Drake, Peter W. 8.125 .250 7.875 .0400 7.835 11/01/2027
600104993 Farrington, Paul 8.875 .250 8.625 .0400 8.585 10/01/2027
600104994 Yu, Paul U. 8.375 .250 8.125 .0400 8.085 12/01/2027
600104995 Sake, Elizabeth 7.875 .250 7.625 .0400 7.585 11/01/2027
600104996 Gallo, Guiseppe 8.875 .250 8.625 .0400 8.585 11/01/2027
600104997 Eagan, PeterJ. 7.750 .250 7.500 .0400 7.460 11/01/2027
600104998 Babb, Gerald D 8.125 .250 7.875 .0400 7.835 11/01/2027
600104999 Claice, Frank A. 8.625 .250 8.375 .0400 8.335 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104985 Wang, Hui Chi 276942 $961.14 11/01/1997 360
600104986 Ugorji, Edmund O. 276945 $498.26 12 11/01/1997 360
600104987 Acosta, Nelso 276964 $1,314.22 11/01/1997 360
600104989 Jones, Steven 277007 $1,429.84 11/01/1997 360
600104990 Ewing, Thomas J. 277094 $369.08 11/01/1997 360
600104991 Lindusky, Martin L. 277103 $547.25 11/01/1997 360
600104992 Drake, Peter W. 277129 $751.78 11/01/1997 360
600104993 Farrington, Paul 277132 $596.74 11/01/1997 360
600104994 Yu, Paul U. 277139 $1,174.69 11/01/1997 360
600104995 Sake, Elizabeth 277196 $1,168.81 11/01/1997 360
600104996 Gallo, Guiseppe 277251 $1,370.50 11/01/1997 360
600104997 Eagan, PeterJ. 277284 $1,060.29 11/01/1997 360
600104998 Babb, Gerald D 277355 $1,091.48 11/01/1997 360
600104999 Claice, Frank A. 277410 $886.68 11/01/1997 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>
600104985 Wang, Hui Chi $179,000.00 N
600104986 Ugorji, Edmund O. $72,000.00 N
600104987 Acosta, Nelso $230,000.00 N
600104989 Jones, Steven $262,000.00 N
600104990 Ewing, Thomas J. $64,000.00 N
600104991 Lindusky, Martin L. $90,000.00 N
600104992 Drake, Peter W. $135,000.00 N
600104993 Farrington, Paul $95,000.00 N
600104994 Yu, Paul U. $220,812.00 N
600104995 Sake, Elizabeth $205,000.00 N
600104996 Gallo, Guiseppe $265,000.00 N
600104997 Eagan, PeterJ. $185,000.00 N
600104998 Babb, Gerald D $222,000.00 N
600104999 Claice, Frank A. $143,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 187
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105001 Richter, Julie D. 1419 West Lake Court Littleton CO 80120 $91,000.00
600105002 Gransbury, Charles R. 211 Spruce Street Kimberly ID 83341 $71,250.00
600105003 Beal, Michael T. 2903 Vallette Bellingham WA 98225 $54,000.00
600105008 Lombardozzi, Vincenzo 700 Columbus Avenue Thornwood NY 10594 $170,000.00
600105009 Ruedaflores, Gilbert S. 5267 Ithaca Avenue Los Angeles CA 90032 $90,000.00
600105011 Nelson, Karin S. 1050 South Monaco Parkway Denver CO 80224 $86,250.00
600105014 Youngs, Ralph A 3816 George Mason Williamsburg VA 23188 $174,750.00
600105015 Chin, William 10 North Haledon Avenue Haledon NJ 07508 $172,000.00
600105016 Kalil, Larry J 15 Louise Avenue Methuen MA 01844 $104,000.00
600105018 York, John D. 82 Bernal Heights Bouleva San Francisco CA 94110 $208,000.00
600105020 Socorro, Jose Manuel 1967 S. W. 24 Terrace Miami FL 33145 $52,000.00
600105021 Agarkov, Yuriy V 6815 NE 91ST Avenue Vancouver WA 98662 $84,000.00
600105022 Piroso, Joseph L 345 Ocean Drive #910 Miami Beach FL 33139 $63,600.00
600105024 Choi, Brian Joon 2624 Griffith Park Boulev Los Angeles CA 90039 $200,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105001 Richter, Julie D. 8.500 .250 8.250 .0400 8.210 11/01/2027
600105002 Gransbury, Charles R. 8.000 .250 7.750 .0400 7.710 11/01/2027
600105003 Beal, Michael T. 7.750 .250 7.500 .0400 7.460 11/01/2027
600105008 Lombardozzi, Vincenzo 8.000 .250 7.750 .0400 7.710 11/01/2027
600105009 Ruedaflores, Gilbert S. 8.125 .250 7.875 .0400 7.835 11/01/2027
600105011 Nelson, Karin S. 8.250 .250 8.000 .0400 7.960 11/01/2027
600105014 Youngs, Ralph A 8.625 .250 8.375 .0400 8.335 11/01/2027
600105015 Chin, William 8.125 .250 7.875 .0400 7.835 11/01/2027
600105016 Kalil, Larry J 8.875 .250 8.625 .0400 8.585 11/01/2027
600105018 York, John D. 8.625 .250 8.375 .0400 8.335 12/01/2027
600105020 Socorro, Jose Manuel 8.500 .250 8.250 .0400 8.210 11/01/2027
600105021 Agarkov, Yuriy V 8.875 .250 8.625 .0400 8.585 11/01/2027
600105022 Piroso, Joseph L 8.500 .250 8.250 .0400 8.210 11/01/2027
600105024 Choi, Brian Joon 8.750 .250 8.500 .0400 8.460 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105001 Richter, Julie D. 277493 $699.71 11/01/1997 360
600105002 Gransbury, Charles R. 277500 $522.81 7 11/01/1997 360
600105003 Beal, Michael T. 277537 $386.86 11/01/1997 360
600105008 Lombardozzi, Vincenzo 277658 $1,247.40 11/01/1997 360
600105009 Ruedaflores, Gilbert S. 277912 $668.25 11/01/1997 360
600105011 Nelson, Karin S. 278033 $647.97 11/01/1997 360
600105014 Youngs, Ralph A 278152 $1,359.19 11/01/1997 360
600105015 Chin, William 278171 $1,277.10 11/01/1997 360
600105016 Kalil, Larry J 278200 $827.48 11/01/1997 360
600105018 York, John D. 278217 $1,617.80 11/01/1997 360
600105020 Socorro, Jose Manuel 278232 $399.84 11/01/1997 360
600105021 Agarkov, Yuriy V 278246 $668.34 11/01/1997 360
600105022 Piroso, Joseph L 278259 $489.03 11/01/1997 360
600105024 Choi, Brian Joon 278334 $1,573.40 11/01/1997 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>
600105001 Richter, Julie D. $130,000.00 N
600105002 Gransbury, Charles R. $75,000.00 N
600105003 Beal, Michael T. $85,000.00 N
600105008 Lombardozzi, Vincenzo $305,000.00 N
600105009 Ruedaflores, Gilbert S. $122,000.00 N
600105011 Nelson, Karin S. $115,000.00 N
600105014 Youngs, Ralph A $233,000.00 N
600105015 Chin, William $215,000.00 N
600105016 Kalil, Larry J $141,000.00 N
600105018 York, John D. $323,000.00 N
600105020 Socorro, Jose Manuel $180,000.00 N
600105021 Agarkov, Yuriy V $112,000.00 N
600105022 Piroso, Joseph L $106,000.00 N
600105024 Choi, Brian Joon $280,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 188
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105025 Pendo, Robert M. 135 Atkinson Lane Watsonville CA 95076 $128,700.00
600105026 Swaby, Barbara E R 3439 Trenary Lane Colorado Spring CO 80918 $101,250.00
600105027 La Pierre, Dennis P. 618 Washington Street Billings MT 59101 $55,000.00
600105028 Wells, David Gene 575 Kaiapa Place Haiku HI 96708 $181,000.00
600105029 Douty, Joel L. 1675 Highway 95 # E-1 Riviera AZ 86442 $68,000.00
600105030 Stoverink, Daniel R. 2837 Diekamp Farm Trail Saint Charles MO 63303 $135,750.00
600105031 Leroux, David M. 15 Putnam Road Chelmsford MA 01824 $110,400.00
600105032 Bitton, Aharon 3400 Ne 192nd St., #511 Aventura FL 33180 $97,500.00
600105033 Smith, James A. 14910 Lupe Road Pine Grove CA 95665 $160,000.00
600105034 Lesniak, Leon G 4100 N Cabrillo Hwy #114 Half Moon Bay CA 94019 $157,500.00
600105035 Greeson, Doug Allen 306 South 72nd Noble OK 73068 $52,500.00
600105036 Yepremian, Garo 13173 Welby Way North Hollywood CA 91606 $100,000.00
600105037 Fisher, Wayne F. 932 West Madera Lane Payson AZ 85541 $103,500.00
600105038 Kull, Barbara 13720 State Highway 113 Woodland CA 95695 $120,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105025 Pendo, Robert M. 8.500 .250 8.250 .0400 8.210 11/01/2027
600105026 Swaby, Barbara E R 8.500 .250 8.250 .0400 8.210 11/01/2027
600105027 La Pierre, Dennis P. 8.250 .250 8.000 .0400 7.960 11/01/2027
600105028 Wells, David Gene 8.375 .250 8.125 .0400 8.085 11/01/2027
600105029 Douty, Joel L. 8.625 .250 8.375 .0400 8.335 11/01/2027
600105030 Stoverink, Daniel R. 8.500 .250 8.250 .0400 8.210 11/01/2027
600105031 Leroux, David M. 8.375 .250 8.125 .0400 8.085 11/01/2027
600105032 Bitton, Aharon 8.750 .250 8.500 .0400 8.460 11/01/2027
600105033 Smith, James A. 8.000 .250 7.750 .0400 7.710 11/01/2027
600105034 Lesniak, Leon G 8.250 .250 8.000 .0400 7.960 11/01/2027
600105035 Greeson, Doug Allen 8.375 .250 8.125 .0400 8.085 11/01/2027
600105036 Yepremian, Garo 8.000 .250 7.750 .0400 7.710 11/01/2027
600105037 Fisher, Wayne F. 8.750 .250 8.500 .0400 8.460 11/01/2027
600105038 Kull, Barbara 8.500 .250 8.250 .0400 8.210 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105025 Pendo, Robert M. 278340 $989.59 1 11/01/1997 360
600105026 Swaby, Barbara E R 278345 $778.53 11/01/1997 360
600105027 La Pierre, Dennis P. 278368 $413.20 11/01/1997 360
600105028 Wells, David Gene 278394 $1,375.73 11/01/1997 360
600105029 Douty, Joel L. 278414 $528.90 11/01/1997 360
600105030 Stoverink, Daniel R. 278417 $1,043.80 11/01/1997 360
600105031 Leroux, David M. 278436 $839.12 11/01/1997 360
600105032 Bitton, Aharon 278463 $767.04 11/01/1997 360
600105033 Smith, James A. 278485 $1,174.02 11/01/1997 360
600105034 Lesniak, Leon G 278620 $1,183.24 11/01/1997 360
600105035 Greeson, Doug Allen 278660 $399.04 11/01/1997 360
600105036 Yepremian, Garo 278711 $733.76 11/01/1997 360
600105037 Fisher, Wayne F. 278746 $814.23 12 11/01/1997 360
600105038 Kull, Barbara 278770 $922.70 11/01/1997 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>
600105025 Pendo, Robert M. $143,000.00 N
600105026 Swaby, Barbara E R $135,000.00 N
600105027 La Pierre, Dennis P. $86,000.00 N
600105028 Wells, David Gene $280,000.00 N
600105029 Douty, Joel L. $85,000.00 N
600105030 Stoverink, Daniel R. $181,000.00 N
600105031 Leroux, David M. $138,000.00 N
600105032 Bitton, Aharon $130,000.00 N
600105033 Smith, James A. $200,000.00 N
600105034 Lesniak, Leon G $225,000.00 N
600105035 Greeson, Doug Allen $120,000.00 N
600105036 Yepremian, Garo $150,000.00 N
600105037 Fisher, Wayne F. $115,000.00 N
600105038 Kull, Barbara $275,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 189
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105039 Garner, Rocky L 10530 State Road C Hillsboro MO 63050 $109,500.00
600105040 Buell, John H. 4751 South 4520 West Salt Lake City UT 84118 $81,000.00
600105041 Mahrle, Benjamin C 11311 North County Road 7 Wellington CO 80549 $134,000.00
600105042 English, Shirley 1246 Florence Avenue Keyport NJ 07735 $55,000.00
600105043 Beitner, George L. 570 Sandy Lane San Marcos CA 92069 $205,000.00
600105045 Ungar, Steven B 6415 S W 45th Avenue Portland OR 97221 $121,350.00
600105046 Scheybeler, Anna 4411 Fandon Avenue El Monte CA 91732 $60,000.00
600105047 Brown, Josephine 1920 S. Plaza Drive #1 Apache Junction AZ 85220 $50,400.00
600105048 Taylor, Kenneth S. 5012 Hyda Blvd Northeast Tacoma WA 98422 $99,100.00
600105049 Bradford, Daniel 105 Blue Bird Drive Johnson City TN 37601 $106,300.00
600105050 Farrell, Michael J. 310 A 22 Skyland Drive Crested Butte CO 81224 $32,800.00
600105051 Twal, Sam 22 Columbia Road Old Bridge NJ 08857 $112,000.00
600105052 Bellon, Timothy P. 1293 Monte- Elma Road Elma WA 98541 $160,000.00
600105053 Fadrilan, Ramon V. 4100 N. Cabrillo Highway Half Moon Bay CA 94019 $83,949.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105039 Garner, Rocky L 8.625 .250 8.375 .0400 8.335 11/01/2027
600105040 Buell, John H. 8.750 .250 8.500 .0400 8.460 11/01/2027
600105041 Mahrle, Benjamin C 8.250 .250 8.000 .0400 7.960 11/01/2027
600105042 English, Shirley 8.250 .250 8.000 .0400 7.960 11/01/2027
600105043 Beitner, George L. 7.375 .250 7.125 .0400 7.085 11/01/2027
600105045 Ungar, Steven B 8.750 .250 8.500 .0400 8.460 11/01/2027
600105046 Scheybeler, Anna 8.000 .250 7.750 .0400 7.710 11/01/2027
600105047 Brown, Josephine 8.250 .250 8.000 .0400 7.960 11/01/2027
600105048 Taylor, Kenneth S. 8.000 .250 7.750 .0400 7.710 11/01/2027
600105049 Bradford, Daniel 8.000 .250 7.750 .0400 7.710 11/01/2027
600105050 Farrell, Michael J. 8.625 .250 8.375 .0400 8.335 11/01/2027
600105051 Twal, Sam 8.000 .250 7.750 .0400 7.710 11/01/2027
600105052 Bellon, Timothy P. 8.500 .250 8.250 .0400 8.210 11/01/2027
600105053 Fadrilan, Ramon V. 8.500 .250 8.250 .0400 8.210 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105039 Garner, Rocky L 278798 $851.68 11/01/1997 360
600105040 Buell, John H. 278862 $637.23 11/01/1997 360
600105041 Mahrle, Benjamin C 278953 $1,006.70 11/01/1997 360
600105042 English, Shirley 278959 $413.20 11/01/1997 360
600105043 Beitner, George L. 279002 $1,415.88 11/01/1997 360
600105045 Ungar, Steven B 279018 $954.67 11/01/1997 360
600105046 Scheybeler, Anna 279056 $440.26 11/01/1997 360
600105047 Brown, Josephine 279068 $378.64 11/01/1997 360
600105048 Taylor, Kenneth S. 279106 $727.16 11/01/1997 360
600105049 Bradford, Daniel 279149 $779.99 11/01/1997 360
600105050 Farrell, Michael J. 279304 $255.12 11/01/1997 360
600105051 Twal, Sam 279309 $821.82 11/01/1997 360
600105052 Bellon, Timothy P. 279337 $1,230.26 11/01/1997 360
600105053 Fadrilan, Ramon V. 279391 $645.89 11/01/1997 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>
600105039 Garner, Rocky L $150,000.00 N
600105040 Buell, John H. $108,000.00 N
600105041 Mahrle, Benjamin C $167,500.00 N
600105042 English, Shirley $100,000.00 N
600105043 Beitner, George L. $460,000.00 N
600105045 Ungar, Steven B $151,700.00 N
600105046 Scheybeler, Anna $150,000.00 N
600105047 Brown, Josephine $63,000.00 N
600105048 Taylor, Kenneth S. $125,000.00 N
600105049 Bradford, Daniel $157,000.00 N
600105050 Farrell, Michael J. $41,000.00 N
600105051 Twal, Sam $152,000.00 N
600105052 Bellon, Timothy P. $245,000.00 N
600105053 Fadrilan, Ramon V. $120,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 190
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105054 Roberts, Will 1494 South 160 West Hurricane UT 84737 $100,000.00
600105056 Lawn, David Andrew 850 County Road 442 Grand Lake CO 80447 $105,000.00
600105057 Aspgren, Jon R 17508 Kahiltna Drive Eagle River AK 99577 $140,000.00
600105058 Estrella, Lonnie 2139 Via Media Benicia CA 94510 $55,400.00
600105059 Gaudiano, Benjamin 5715 East Crocus Drive Scottsdale AZ 85254 $133,850.00
600105060 Luna, Ronald M 33359 Island Road Parma ID 83660 $55,000.00
600105061 Chen, Juo-Hsun 8998 Copeland Street Littleton CO 80126 $134,175.00
600105062 Mc Lean, Ross 4391 North Willow Glen St Calabasas CA 91302 $181,850.00
600105063 Garcia, Edward T. 7851 West 4th Avenue Lakewood CO 80228 $150,000.00
600105064 Orihuela, William R. 15 Baxter Place Del Rey Oak CA 93940 $146,250.00
600105065 Muro Jr, Rafael 17425 N W 86 Avenue Miami FL 33015 $112,000.00
600105066 Szymanski, Kerry 10560 N Stargazer Drive Tucson AZ 85737 $195,000.00
600105067 Dalla Valle, Mark A 8973 North 63rd Drive Glendale AZ 85302 $69,300.00
600105068 Cruz, Jeremy V. 1381 E. Sonoran Desert Dr Tucson AZ 85737 $168,750.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105054 Roberts, Will 8.500 .250 8.250 .0400 8.210 11/01/2027
600105056 Lawn, David Andrew 7.750 .250 7.500 .0400 7.460 12/01/2027
600105057 Aspgren, Jon R 8.000 .250 7.750 .0400 7.710 11/01/2027
600105058 Estrella, Lonnie 7.750 .250 7.500 .0400 7.460 11/01/2027
600105059 Gaudiano, Benjamin 8.000 .250 7.750 .0400 7.710 11/01/2027
600105060 Luna, Ronald M 8.375 .250 8.125 .0400 8.085 11/01/2027
600105061 Chen, Juo-Hsun 7.750 .250 7.500 .0400 7.460 11/01/2027
600105062 Mc Lean, Ross 8.500 .250 8.250 .0400 8.210 11/01/2027
600105063 Garcia, Edward T. 8.625 .250 8.375 .0400 8.335 11/01/2027
600105064 Orihuela, William R. 8.750 .250 8.500 .0400 8.460 12/01/2027
600105065 Muro Jr, Rafael 8.250 .250 8.000 .0400 7.960 11/01/2027
600105066 Szymanski, Kerry 8.500 .250 8.250 .0400 8.210 11/01/2027
600105067 Dalla Valle, Mark A 8.375 .250 8.125 .0400 8.085 11/01/2027
600105068 Cruz, Jeremy V. 8.000 .250 7.750 .0400 7.710 12/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105054 Roberts, Will 279392 $768.91 11/01/1997 360
600105056 Lawn, David Andrew 279532 $752.23 11/01/1997 360
600105057 Aspgren, Jon R 279547 $1,027.27 11/01/1997 360
600105058 Estrella, Lonnie 279678 $396.89 11/01/1997 360
600105059 Gaudiano, Benjamin 279729 $982.14 11/01/1997 360
600105060 Luna, Ronald M 279744 $418.04 11/01/1997 360
600105061 Chen, Juo-Hsun 279755 $961.25 11/01/1997 360
600105062 Mc Lean, Ross 279760 $1,398.27 11/01/1997 360
600105063 Garcia, Edward T. 279774 $1,166.68 11/01/1997 360
600105064 Orihuela, William R. 279786 $1,150.55 11/01/1997 360
600105065 Muro Jr, Rafael 279795 $841.42 11/01/1997 360
600105066 Szymanski, Kerry 279930 $1,499.38 11/01/1997 360
600105067 Dalla Valle, Mark A 279948 $526.73 11/01/1997 360
600105068 Cruz, Jeremy V. 279953 $1,238.23 11/01/1997 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>
600105054 Roberts, Will $154,500.00 N
600105056 Lawn, David Andrew $380,000.00 N
600105057 Aspgren, Jon R $176,000.00 N
600105058 Estrella, Lonnie $153,500.00 N
600105059 Gaudiano, Benjamin $184,000.00 N
600105060 Luna, Ronald M $102,000.00 N
600105061 Chen, Juo-Hsun $180,000.00 N
600105062 Mc Lean, Ross $242,500.00 N
600105063 Garcia, Edward T. $190,000.00 N
600105064 Orihuela, William R. $195,000.00 N
600105065 Muro Jr, Rafael $140,000.00 N
600105066 Szymanski, Kerry $300,000.00 N
600105067 Dalla Valle, Mark A $86,651.00 N
600105068 Cruz, Jeremy V. $225,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 191
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105069 Warren, Robert F. 1363 Fifteenth Street Los Osos CA 93402 $98,500.00
600105070 Lavigne, Duane R. 236 Oak Drive Foley MN 55329 $60,900.00
600105071 Reynolds, Duane J 2121 South 4th Street Wes Missoula MT 59801 $125,000.00
600105072 Graupner, Sr, Walter G 5197 Black Gore Drive Uni Vail CO 81657 $140,800.00
600105073 Lener, Jr, Philip 2042 Craft Lane Sarasota FL 34239 $100,000.00
600105074 Lujan, Joseph A. 570 Verona Place Hollister CA 95023 $153,600.00
600105075 Emerson, Larry W. 6450 Independence Ranch R San Miguel CA 93451 $132,000.00
600105076 Thaler, Anita 4269 Arbor Way Palm Beach Gard FL 33418 $62,000.00
600105077 Grills, Michael J. 1830 Centennial Drive #30 Louisville CO 80027 $76,800.00
600105078 Thornton, James 9888 E. Topaz Dr Scottsdale AZ 85258 $145,000.00
600105079 Patel, Chandravadan 912 Beatrice Parkway Edison NJ 08820 $148,000.00
600105080 Plumb, Jack E 5526 East Emmigration Can Salt Lake City UT 84108 $85,000.00
600105081 Kynett, Leslie J 408 West Third Street Carson City NV 89703 $45,150.00
600105082 Alexander, Jack R. 75-6026 Alii Drive #5-106 Kailua Kona HI 96740 $79,200.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105069 Warren, Robert F. 8.500 .250 8.250 .0400 8.210 11/01/2027
600105070 Lavigne, Duane R. 8.875 .250 8.625 .0400 8.585 11/01/2027
600105071 Reynolds, Duane J 8.500 .250 8.250 .0400 8.210 11/01/2027
600105072 Graupner, Sr, Walter G 8.750 .250 8.500 .0400 8.460 11/01/2027
600105073 Lener, Jr, Philip 8.000 .250 7.750 .0400 7.710 11/01/2027
600105074 Lujan, Joseph A. 8.125 .250 7.875 .0400 7.835 11/01/2027
600105075 Emerson, Larry W. 7.875 .250 7.625 .0400 7.585 11/01/2027
600105076 Thaler, Anita 8.500 .250 8.250 .0400 8.210 11/01/2027
600105077 Grills, Michael J. 7.875 .250 7.625 .0400 7.585 11/01/2027
600105078 Thornton, James 7.750 .250 7.500 .0400 7.460 11/01/2027
600105079 Patel, Chandravadan 8.500 .250 8.250 .0400 8.210 11/01/2027
600105080 Plumb, Jack E 8.375 .250 8.125 .0400 8.085 11/01/2027
600105081 Kynett, Leslie J 8.750 .250 8.500 .0400 8.460 11/01/2027
600105082 Alexander, Jack R. 8.375 .250 8.125 .0400 8.085 12/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105069 Warren, Robert F. 280002 $757.38 11/01/1997 360
600105070 Lavigne, Duane R. 280007 $484.55 11/01/1997 360
600105071 Reynolds, Duane J 280013 $961.14 11/01/1997 360
600105072 Graupner, Sr, Walter G 280046 $1,107.67 11/01/1997 360
600105073 Lener, Jr, Philip 280115 $733.76 11/01/1997 360
600105074 Lujan, Joseph A. 280122 $1,140.48 11/01/1997 360
600105075 Emerson, Larry W. 280140 $957.09 11/01/1997 360
600105076 Thaler, Anita 280297 $476.73 11/01/1997 360
600105077 Grills, Michael J. 280416 $556.85 11/01/1997 360
600105078 Thornton, James 280483 $1,038.80 11/01/1997 360
600105079 Patel, Chandravadan 280506 $1,137.99 11/01/1997 360
600105080 Plumb, Jack E 280511 $646.06 11/01/1997 360
600105081 Kynett, Leslie J 280523 $355.20 11/01/1997 360
600105082 Alexander, Jack R. 280553 $601.98 11/01/1997 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>
600105069 Warren, Robert F. $136,000.00 N
600105070 Lavigne, Duane R. $84,000.00 N
600105071 Reynolds, Duane J $170,000.00 N
600105072 Graupner, Sr, Walter G $176,000.00 N
600105073 Lener, Jr, Philip $125,000.00 N
600105074 Lujan, Joseph A. $192,000.00 N
600105075 Emerson, Larry W. $220,000.00 N
600105076 Thaler, Anita $82,912.00 N
600105077 Grills, Michael J. $96,000.00 N
600105078 Thornton, James $257,000.00 N
600105079 Patel, Chandravadan $185,000.00 N
600105080 Plumb, Jack E $150,000.00 N
600105081 Kynett, Leslie J $64,500.00 N
600105082 Alexander, Jack R. $99,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 192
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105083 Marlow, Diane K. 150 Kit Peak Road Globe AZ 85501 $110,300.00
600105084 Marlow, Diane K. 118 Turnbull Turn Globe AZ 85501 $76,200.00
600105085 Vera, Jorge A 3050 Center Street Miami FL 33133 $108,000.00
600105086 Rosengren, Diane K. 4769 Versailles Park Cour Fremont CA 94538 $188,000.00
600105087 Sands, Sandra P 1281 Morse Blvd West Palm Beach FL 33404 $91,500.00
600105088 Dunn, John 11395 Kismet Avenue Sylmar CA 91342 $51,000.00
600105089 Rugloski, Paul S 19155 Klippel Road Bend OR 97701 $123,750.00
600105090 West, Ronnie E. 450 Cottonwood Lake Drive Clifton CO 81520 $63,750.00
600105091 Mair, Elaine B 447 Coach Road Arroyo Grande CA 93420 $134,000.00
600105092 Lennemann, Sherry L. 2336 Panorama Drive Greeley CO 80631 $52,500.00
600105093 Anderson, Jeffrey J 2820 South Beverly Street Salt Lake City UT 84106 $124,250.00
600105094 Brewer, Jr., Billy D. 994 4th Avenue Rio Oso CA 95674 $108,000.00
600105095 Mc Kinney, Edna E 2091 S Lincoln Denver CO 80210 $152,700.00
600105096 Capps, Gloria Evelyn 220 Peyton Street Santa Cruz CA 95060 $174,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105083 Marlow, Diane K. 7.750 .250 7.500 .0400 7.460 11/01/2027
600105084 Marlow, Diane K. 8.125 .250 7.875 .0400 7.835 11/01/2027
600105085 Vera, Jorge A 8.375 .250 8.125 .0400 8.085 11/01/2027
600105086 Rosengren, Diane K. 8.250 .250 8.000 .0400 7.960 11/01/2027
600105087 Sands, Sandra P 8.500 .250 8.250 .0400 8.210 11/01/2027
600105088 Dunn, John 8.375 .250 8.125 .0400 8.085 11/01/2027
600105089 Rugloski, Paul S 8.000 .250 7.750 .0400 7.710 11/01/2027
600105090 West, Ronnie E. 8.500 .250 8.250 .0400 8.210 11/01/2027
600105091 Mair, Elaine B 7.875 .250 7.625 .0400 7.585 11/01/2027
600105092 Lennemann, Sherry L. 7.625 .250 7.375 .0400 7.335 12/01/2027
600105093 Anderson, Jeffrey J 8.250 .250 8.000 .0400 7.960 11/01/2027
600105094 Brewer, Jr., Billy D. 8.375 .250 8.125 .0400 8.085 11/01/2027
600105095 Mc Kinney, Edna E 8.250 .250 8.000 .0400 7.960 12/01/2027
600105096 Capps, Gloria Evelyn 8.875 .250 8.625 .0400 8.585 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105083 Marlow, Diane K. 280709 $790.21 11/01/1997 360
600105084 Marlow, Diane K. 280712 $565.79 11/01/1997 360
600105085 Vera, Jorge A 280768 $820.88 11/01/1997 360
600105086 Rosengren, Diane K. 280838 $1,412.38 11/01/1997 360
600105087 Sands, Sandra P 280842 $703.56 11/01/1997 360
600105088 Dunn, John 280995 $387.64 11/01/1997 360
600105089 Rugloski, Paul S 280998 $908.03 11/01/1997 360
600105090 West, Ronnie E. 281025 $490.18 11/01/1997 360
600105091 Mair, Elaine B 281171 $971.59 11/01/1997 360
600105092 Lennemann, Sherry L. 281225 $371.59 11/01/1997 360
600105093 Anderson, Jeffrey J 281231 $933.45 11/01/1997 360
600105094 Brewer, Jr., Billy D. 281362 $820.88 11/01/1997 360
600105095 Mc Kinney, Edna E 281485 $1,147.18 11/01/1997 360
600105096 Capps, Gloria Evelyn 281562 $1,384.42 11/01/1997 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>
600105083 Marlow, Diane K. $137,900.00 N
600105084 Marlow, Diane K. $108,900.00 N
600105085 Vera, Jorge A $135,000.00 N
600105086 Rosengren, Diane K. $310,000.00 N
600105087 Sands, Sandra P $131,500.00 N
600105088 Dunn, John $85,000.00 N
600105089 Rugloski, Paul S $165,000.00 N
600105090 West, Ronnie E. $85,990.00 N
600105091 Mair, Elaine B $168,000.00 N
600105092 Lennemann, Sherry L. $156,000.00 N
600105093 Anderson, Jeffrey J $190,000.00 N
600105094 Brewer, Jr., Billy D. $135,000.00 N
600105095 Mc Kinney, Edna E $235,000.00 N
600105096 Capps, Gloria Evelyn $232,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 193
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105098 Sloan, Kelly A. 10577 Norwood Avenue Nort Stillwater MN 55082 $202,500.00
600105099 Pratt, Michael E 710 East Main Street Weiser ID 83672 $48,750.00
600105100 Maulhardt, Barbara M. 11430 County Road 51A Hayden CO 81639 $144,000.00
600105102 Nebergall, Thomas W. 1520 South Cascade Avenue Colorado Spring CO 80906 $51,000.00
600105103 Toste, Julie 13962 Marigold Way Nevada City CA 95959 $125,000.00
600105104 Rock, Terry G 4665 South Sycamore Drive Salt Lake City UT 84117 $157,500.00
600105105 Jalileyan, Mohssen 1221 N W 100 Way Fort Lauderdale FL 33322 $203,000.00
600105106 Sprigg, James F 2220 Exposition Drive, #8 San Luis Obispo CA 93401 $80,000.00
600105107 Mullen, Kimberly Kae 169 Yaqui Loop Parker AZ 85344 $138,000.00
600105109 Scott, Madeline A. 298 N Sharon Way Jamesburg NJ 08831 $52,500.00
600105110 Jones, Lisa M. 303 Overlook Drive D 1c Breckenridge CO 80424 $54,900.00
600105111 Slater, Harry F 15728 Gary Way Grass Valley CA 95949 $112,500.00
600105113 Thomsen, Merlin E. 1582 Ne Hacienda Avenue Gresham OR 97080 $80,000.00
600105114 Edwards, Paul C. 8101 Lower Peoh Point Roa Cle Elum WA 98922 $131,250.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105098 Sloan, Kelly A. 8.125 .250 7.875 .0400 7.835 11/01/2027
600105099 Pratt, Michael E 8.000 .250 7.750 .0400 7.710 12/01/2027
600105100 Maulhardt, Barbara M. 8.000 .250 7.750 .0400 7.710 11/01/2027
600105102 Nebergall, Thomas W. 8.750 .250 8.500 .0400 8.460 12/01/2027
600105103 Toste, Julie 8.125 .250 7.875 .0400 7.835 12/01/2027
600105104 Rock, Terry G 8.375 .250 8.125 .0400 8.085 11/01/2027
600105105 Jalileyan, Mohssen 8.250 .250 8.000 .0400 7.960 12/01/2027
600105106 Sprigg, James F 7.500 .250 7.250 .0400 7.210 12/01/2027
600105107 Mullen, Kimberly Kae 8.500 .250 8.250 .0400 8.210 11/01/2027
600105109 Scott, Madeline A. 8.500 .250 8.250 .0400 8.210 12/01/2027
600105110 Jones, Lisa M. 7.875 .250 7.625 .0400 7.585 12/01/2027
600105111 Slater, Harry F 8.000 .250 7.750 .0400 7.710 12/01/2027
600105113 Thomsen, Merlin E. 8.375 .250 8.125 .0400 8.085 11/01/2027
600105114 Edwards, Paul C. 8.500 .250 8.250 .0400 8.210 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105098 Sloan, Kelly A. 281627 $1,503.56 11/01/1997 360
600105099 Pratt, Michael E 281637 $357.71 11/01/1997 360
600105100 Maulhardt, Barbara M. 281690 $1,056.62 11/01/1997 360
600105102 Nebergall, Thomas W. 281705 $401.22 11/01/1997 360
600105103 Toste, Julie 281790 $928.12 11/01/1997 360
600105104 Rock, Terry G 281974 $1,197.11 11/01/1997 360
600105105 Jalileyan, Mohssen 281984 $1,525.08 7 11/01/1997 360
600105106 Sprigg, James F 282051 $559.37 11/01/1997 360
600105107 Mullen, Kimberly Kae 282062 $1,061.10 11/01/1997 360
600105109 Scott, Madeline A. 282193 $403.68 11/01/1997 360
600105110 Jones, Lisa M. 282267 $398.06 11/01/1997 360
600105111 Slater, Harry F 282436 $825.49 11/01/1997 360
600105113 Thomsen, Merlin E. 282549 $608.06 11/01/1997 360
600105114 Edwards, Paul C. 282551 $1,009.20 11/01/1997 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>
600105098 Sloan, Kelly A. $270,000.00 N
600105099 Pratt, Michael E $65,000.00 N
600105100 Maulhardt, Barbara M. $180,000.00 N
600105102 Nebergall, Thomas W. $68,000.00 N
600105103 Toste, Julie $232,500.00 N
600105104 Rock, Terry G $210,000.00 N
600105105 Jalileyan, Mohssen $230,000.00 N
600105106 Sprigg, James F $119,500.00 N
600105107 Mullen, Kimberly Kae $184,000.00 N
600105109 Scott, Madeline A. $70,000.00 N
600105110 Jones, Lisa M. $84,500.00 N
600105111 Slater, Harry F $150,000.00 N
600105113 Thomsen, Merlin E. $100,000.00 N
600105114 Edwards, Paul C. $175,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 194
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105115 Feitler, Daniel 61573 E East Lake Drive Bend OR 97702 $146,300.00
600105116 Eager, Allen 1774 Hastings Way Yuba City CA 95991 $200,000.00
600105117 Putman, Stephen C. 5370 Mallard Court Seaside OR 97138 $170,000.00
600105118 Anderson, Kenneth M 101 Bryce Way Vacaville CA 95687 $79,453.06
600105119 Rhoades, Jeffrey W. 4856 N E 12th Avenue Portland OR 97211 $71,250.00
600105120 Tift, Ted J 355 Baltimore Street Longview WA 98632 $67,222.28
600105121 Bardwell, Bart L. 32393 Coburg Bottom Loop Eugene OR 97408 $160,000.00
600105122 Flory, Gary L 4815 Ne Skidmore Street Portland OR 97218 $147,733.83
600105123 Shibuya, Lynn 499 High Street Wailuku HI 96793 $125,000.00
600105124 Rue, David J. 2121 Barker Court Ne Albany OR 97321 $141,836.00
600105125 Rodie, Louis A. 2295 Jefferson Street Eugene OR 97405 $99,878.40
600105127 Blaj, Titu 2402 Se 9th Court Gresham OR 97080 $108,368.06
600105129 Fields, Phillip E. 2485 Sandpiper Way Shingle Springs CA 95682 $168,000.00
600105131 Sinatra, Michael 21880 Butte Ranch Road Bend OR 97702 $135,900.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105115 Feitler, Daniel 8.250 .250 8.000 .0400 7.960 11/01/2027
600105116 Eager, Allen 8.250 .250 8.000 .0400 7.960 11/01/2027
600105117 Putman, Stephen C. 8.375 .250 8.125 .0400 8.085 11/01/2027
600105118 Anderson, Kenneth M 8.625 .250 8.375 .0400 8.335 10/01/2027
600105119 Rhoades, Jeffrey W. 8.750 .250 8.500 .0400 8.460 11/01/2027
600105120 Tift, Ted J 8.750 .250 8.500 .0400 8.460 09/01/2027
600105121 Bardwell, Bart L. 8.875 .250 8.625 .0400 8.585 11/01/2027
600105122 Flory, Gary L 8.375 .250 8.125 .0400 8.085 09/01/2027
600105123 Shibuya, Lynn 7.875 .250 7.625 .0400 7.585 12/01/2027
600105124 Rue, David J. 8.750 .250 8.500 .0400 8.460 09/01/2027
600105125 Rodie, Louis A. 8.500 .250 8.250 .0400 8.210 09/01/2027
600105127 Blaj, Titu 8.500 .250 8.250 .0400 8.210 09/01/2027
600105129 Fields, Phillip E. 8.000 .250 7.750 .0400 7.710 11/01/2027
600105131 Sinatra, Michael 7.875 .250 7.625 .0400 7.585 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105115 Feitler, Daniel 282558 $1,099.11 11/01/1997 360
600105116 Eager, Allen 282559 $1,502.54 11/01/1997 360
600105117 Putman, Stephen C. 282562 $1,292.13 11/01/1997 360
600105118 Anderson, Kenneth M 282565 $618.35 11/01/1997 360
600105119 Rhoades, Jeffrey W. 282566 $560.53 11/01/1997 360
600105120 Tift, Ted J 282571 $529.45 11/01/1997 360
600105121 Bardwell, Bart L. 282580 $1,273.04 11/01/1997 360
600105122 Flory, Gary L 282614 $1,174.32 11/01/1997 360
600105123 Shibuya, Lynn 282711 $906.34 11/01/1997 360
600105124 Rue, David J. 282735 $1,117.12 11/01/1997 360
600105125 Rodie, Louis A. 282741 $768.92 11/01/1997 360
600105127 Blaj, Titu 282749 $834.28 11/01/1997 360
600105129 Fields, Phillip E. 282758 $1,232.73 11/01/1997 360
600105131 Sinatra, Michael 282787 $985.37 11/01/1997 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>
600105115 Feitler, Daniel $182,900.00 N
600105116 Eager, Allen $350,000.00 N
600105117 Putman, Stephen C. $250,000.00 N
600105118 Anderson, Kenneth M $100,000.00 N
600105119 Rhoades, Jeffrey W. $95,000.00 N
600105120 Tift, Ted J $91,000.00 N
600105121 Bardwell, Bart L. $200,000.00 N
600105122 Flory, Gary L $207,000.00 N
600105123 Shibuya, Lynn $410,000.00 N
600105124 Rue, David J. $197,900.00 N
600105125 Rodie, Louis A. $175,000.00 N
600105127 Blaj, Titu $160,000.00 N
600105129 Fields, Phillip E. $210,000.00 N
600105131 Sinatra, Michael $272,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 195
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105136 Jensen, Gladys I. 1901 Meer Way Sacramento CA 95822 $65,876.06
600105142 Zopf, David E 20890 S E Lansing Lane Boring OR 97009 $72,100.00
600105144 Nord, James A. 10151 Hillside Montrose CO 81401 $71,250.00
600105147 Caldwell, Michael W. 15498 Duxbury Way Chesterfield MO 63017 $118,000.00
600105148 Merda, Bradley L. 25 Drover Court Trabuco Canyon CA 92679 $191,000.00
600105149 Henkens I I, Robert A 1616 Teralba Way Sacramento CA 95833 $74,625.00
600105150 Cole, Edward C. 1 Futures Loop Edgewood NM 87015 $91,348.76
600105152 Schormann, Elaine 27 Smallwood Lane Englishtown NJ 07726 $95,000.00
600105186 Marsden, Jeff M. 830 Park Street Paso Robles CA 93446 $57,600.00
600105187 Marsden, Jeff M. 820 Park Street Paso Robles CA 93446 $76,800.00
600105188 Crandall, Richard G. 212 Cheyenne Drive Vacaville CA 95688 $168,000.00
600105362 SHELTON 338 EMERALD BAY CIR NAPLES FL 34110 $76,960.33
600105364 COOK SR 324 LAMBERT AVENUE FLAGLER BEACH FL 32136 $119,842.46
600105365 KALP 428 OAKWOOD DRIVE BARRINGTON IL 60010 $194,756.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105136 Jensen, Gladys I. 8.375 .250 8.125 .0400 8.085 08/01/2027
600105142 Zopf, David E 7.875 .250 7.625 .0400 7.585 11/01/2027
600105144 Nord, James A. 8.625 .250 8.375 .0400 8.335 12/01/2027
600105147 Caldwell, Michael W. 8.375 .250 8.125 .0400 8.085 11/01/2027
600105148 Merda, Bradley L. 8.000 .250 7.750 .0400 7.710 11/01/2027
600105149 Henkens I I, Robert A 8.500 .250 8.250 .0400 8.210 11/01/2027
600105150 Cole, Edward C. 8.875 .250 8.625 .0400 8.585 10/01/2027
600105152 Schormann, Elaine 8.375 .250 8.125 .0400 8.085 11/01/2027
600105186 Marsden, Jeff M. 8.750 .250 8.500 .0400 8.460 11/01/2027
600105187 Marsden, Jeff M. 8.750 .250 8.500 .0400 8.460 11/01/2027
600105188 Crandall, Richard G. 8.250 .250 8.000 .0400 7.960 11/01/2027
600105362 SHELTON 7.750 .250 7.500 .0500 7.450 04/01/2027
600105364 COOK SR 8.125 .250 7.875 .0500 7.825 09/01/2027
600105365 KALP 8.375 .250 8.125 .0500 8.075 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105136 Jensen, Gladys I. 282943 $501.65 11/01/1997 360
600105142 Zopf, David E 283035 $522.78 11/01/1997 360
600105144 Nord, James A. 283072 $554.18 11/01/1997 360
600105147 Caldwell, Michael W. 283238 $896.89 11/01/1997 360
600105148 Merda, Bradley L. 283263 $1,401.49 11/01/1997 360
600105149 Henkens I I, Robert A 283268 $573.81 11/01/1997 360
600105150 Cole, Edward C. 283365 $727.22 11/01/1997 360
600105152 Schormann, Elaine 283458 $722.07 11/01/1997 360
600105186 Marsden, Jeff M. 283954 $453.14 11/01/1997 360
600105187 Marsden, Jeff M. 283957 $604.19 11/01/1997 360
600105188 Crandall, Richard G. 283966 $1,262.13 11/01/1997 360
600105362 SHELTON 0916010 $554.15 11/01/1997 360
600105364 COOK SR 0932665 $891.00 11/01/1997 360
600105365 KALP 0933406 $1,482.14 11/01/1997 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>
600105136 Jensen, Gladys I. $106,000.00 N
600105142 Zopf, David E $235,000.00 N
600105144 Nord, James A. $95,000.00 N
600105147 Caldwell, Michael W. $160,000.00 N
600105148 Merda, Bradley L. $238,899.00 N
600105149 Henkens I I, Robert A $99,500.00 N
600105150 Cole, Edward C. $121,900.00 N
600105152 Schormann, Elaine $175,000.00 N
600105186 Marsden, Jeff M. $72,000.00 N
600105187 Marsden, Jeff M. $96,000.00 N
600105188 Crandall, Richard G. $210,000.00 N
600105362 SHELTON $110,500.00 N
600105364 COOK SR $220,000.00 N
600105365 KALP $299,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 196
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105366 SHIRCLIF 2835 KLONDIKE LANE LOUISVILLE KY 40218 $97,600.00
600105368 FRAZIER 509 RAMBLING BROOK PICKERINGTON OH 43147 $142,500.00
600105369 COUSINS 2611 W TYSON AVE TAMPA FL 33611 $68,000.00
600105370 KELLY 77-79 BROWN STREET WALTHAM MA 02154 $199,500.83
600105371 TYRE 2866 LONE TREE MILFORD MI 48380 $144,000.00
600105372 WELCH 2 BROWN ST SALEM MA 01970 $168,750.00
600105373 HU 613 615 WOODINGHAM EAST LANSING MI 48823 $109,032.18
600105374 KING 304 SADDLEHORN ROAD CHARLESTON WV 25314 $63,750.00
600105376 CARD 12125 STONEWALL JACKS WOODFORD VA 22580 $118,750.00
600105377 KWASNIK 624 COBBLESTONE GLENVIEW IL 60025 $69,956.49
600105378 MAAKESTA 1221 SYCAMORE ROAD DEKALB IL 60115 $67,461.16
600105379 AYOUB 20700 ANN ARBOR TRAIL DEARBORN HEIGHT MI 48127 $60,923.91
600105380 DELEGAL 12 SUNSET DRIVE EAST HAMPTON CT 06424 $109,933.36
600105381 BLAND 817 FIRST ST UNIT C TYBEE ISLAND GA 31328 $64,455.61
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105366 SHIRCLIF 8.125 .250 7.875 .0500 7.825 11/01/2027
600105368 FRAZIER 7.500 .250 7.250 .0500 7.200 11/01/2027
600105369 COUSINS 8.750 .250 8.500 .0500 8.450 11/01/2027
600105370 KELLY 8.375 .250 8.125 .0500 8.075 09/01/2027
600105371 TYRE 8.250 .250 8.000 .0500 7.950 11/01/2027
600105372 WELCH 8.875 .250 8.625 .0500 8.575 11/01/2027
600105373 HU 8.375 .250 8.125 .0500 8.075 10/01/2027
600105374 KING 8.125 .250 7.875 .0500 7.825 11/01/2027
600105376 CARD 8.125 .250 7.875 .0500 7.825 11/01/2027
600105377 KWASNIK 8.375 .250 8.125 .0500 8.075 10/01/2027
600105378 MAAKESTA 8.750 .250 8.500 .0500 8.450 10/01/2027
600105379 AYOUB 8.375 .250 8.125 .0500 8.075 09/01/2027
600105380 DELEGAL 8.500 .250 8.250 .0500 8.200 10/01/2027
600105381 BLAND 7.875 .250 7.625 .0500 7.575 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105366 SHIRCLIF 0934155 $724.68 11/01/1997 360
600105368 FRAZIER 0936109 $996.38 12 11/01/1997 360
600105369 COUSINS 0937273 $534.96 11/01/1997 360
600105370 KELLY 0938720 $1,518.24 11/01/1997 360
600105371 TYRE 0939452 $1,081.82 11/01/1997 360
600105372 WELCH 0940880 $1,342.65 11/01/1997 360
600105373 HU 0941716 $829.24 11/01/1997 360
600105374 KING 0942678 $473.34 11/01/1997 360
600105376 CARD 0943477 $881.72 2 11/01/1997 360
600105377 KWASNIK 0943571 $532.05 11/01/1997 360
600105378 MAAKESTA 0943659 $531.02 11/01/1997 360
600105379 AYOUB 0944290 $463.64 11/01/1997 360
600105380 DELEGAL 0944618 $845.80 11/01/1997 360
600105381 BLAND 0944878 $467.67 11/01/1997 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>
600105366 SHIRCLIF $122,000.00 N
600105368 FRAZIER $150,000.00 N
600105369 COUSINS $85,000.00 N
600105370 KELLY $270,000.00 N
600105371 TYRE $180,600.00 N
600105372 WELCH $225,000.00 N
600105373 HU $159,000.00 N
600105374 KING $85,000.00 N
600105376 CARD $125,000.00 N
600105377 KWASNIK $88,000.00 N
600105378 MAAKESTA $100,000.00 N
600105379 AYOUB $79,000.00 N
600105380 DELEGAL $137,500.00 N
600105381 BLAND $86,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 197
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105382 HIBBLER 1795 LAKEWOOD GAYLORD MI 49735 $85,000.00
600105383 LANGWORT 1926 WROXTON ROAD HOUSTON TX 77005 $193,379.73
600105384 HOPSON 1439 S MICHIGAN AVE CHICAGO IL 60605 $113,600.00
600105385 COLEMAN 86 86 S. 51ST STRE BELLWOOD IL 60104 $98,000.00
600105386 KLEPCZAR 7509 W 57TH PLACE SUMMIT IL 60501 $79,956.30
600105387 ROSSOW 5200 BOOTH RD CHINA MI 48054 $92,000.00
600105388 BABICH 466 LINCOLN ST CLAIR MI 48079 $95,000.00
600105389 LODGE 3260 SPREADING OAK D DOUGLASVILLE GA 30135 $74,942.92
600105391 WOLARD 1780 RISING MIST LAN CUMMING GA 30130 $169,885.93
600105395 KASPER 15341 BUCKEYE CT LOCKPORT IL 60441 $109,183.81
600105396 DAVIS 6875 RESERVATION RD YORKVILLE IL 60560 $180,000.00
600105397 SOULIS 5326 N RICHARDT ST INDIANAPOLIS IN 46226 $59,566.58
600105398 REICKS 3261 PORT DR HOLLAND MI 49424 $82,000.00
600105399 NUGENT 18986 MCCORMICK DETROIT MI 48224 $39,200.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105382 HIBBLER 8.625 .250 8.375 .0500 8.325 11/01/2027
600105383 LANGWORT 8.375 .250 8.125 .0500 8.075 10/01/2027
600105384 HOPSON 7.875 .250 7.625 .0500 7.575 11/01/2027
600105385 COLEMAN 7.875 .250 7.625 .0500 7.575 11/01/2027
600105386 KLEPCZAR 9.000 .250 8.750 .0500 8.700 10/01/2027
600105387 ROSSOW 8.000 .250 7.750 .0500 7.700 11/01/2027
600105388 BABICH 8.250 .250 8.000 .0500 7.950 11/01/2027
600105389 LODGE 7.375 .250 7.125 .0500 7.075 10/01/2027
600105391 WOLARD 8.000 .250 7.750 .0500 7.700 10/01/2027
600105395 KASPER 8.500 .250 8.250 .0500 8.200 10/01/2027
600105396 DAVIS 8.250 .250 8.000 .0500 7.950 11/01/2027
600105397 SOULIS 8.875 .250 8.625 .0500 8.575 10/01/2027
600105398 REICKS 8.250 .250 8.000 .0500 7.950 11/01/2027
600105399 NUGENT 9.750 .250 9.500 .0500 9.450 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105382 HIBBLER 0945035 $661.12 11/01/1997 360
600105383 LANGWORT 0945347 $1,470.74 11/01/1997 360
600105384 HOPSON 0945444 $823.68 11/01/1997 360
600105385 COLEMAN 0945451 $710.57 11/01/1997 360
600105386 KLEPCZAR 0945476 $643.70 11/01/1997 360
600105387 ROSSOW 0945583 $675.06 11/01/1997 360
600105388 BABICH 0945687 $713.70 11/01/1997 360
600105389 LODGE 0946060 $518.01 11/01/1997 360
600105391 WOLARD 0946447 $1,247.40 11/01/1997 360
600105395 KASPER 0947240 $840.04 11/01/1997 360
600105396 DAVIS 0947326 $1,352.28 11/01/1997 360
600105397 SOULIS 0947587 $474.21 11/01/1997 360
600105398 REICKS 0947669 $616.04 11/01/1997 360
600105399 NUGENT 0947843 $336.79 11/01/1997 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>
600105382 HIBBLER $147,500.00 N
600105383 LANGWORT $258,000.00 N
600105384 HOPSON $142,000.00 N
600105385 COLEMAN $125,000.00 N
600105386 KLEPCZAR $150,000.00 N
600105387 ROSSOW $160,000.00 N
600105388 BABICH $157,000.00 N
600105389 LODGE $102,000.00 N
600105391 WOLARD $233,000.00 N
600105395 KASPER $218,500.00 N
600105396 DAVIS $246,295.00 N
600105397 SOULIS $74,500.00 N
600105398 REICKS $142,000.00 N
600105399 NUGENT $49,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 198
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105400 STUCKI 13545 E AUSTIN ROAD MANCHESTER MI 48158 $207,620.87
600105401 BOGART 3887 HIGHWAY 356 SAUTEE GA 30571 $59,960.75
600105402 DUCHARME 4565 S ATLANTIC AVE PONCE INLET FL 32127 $146,500.00
600105403 GETSINGE 67 MARINERS CAY FOLLY BEACH SC 29439 $76,000.00
600105404 WALDROP 3507 W LAKESIDE DRIV BIRMINGHAM AL 35243 $108,325.39
600105405 KING 33 HIGHCREST ROAD FALMOUTH MA 02540 $99,934.58
600105406 MCFADDEN 2701 ASH DRIVE SPRINGFIELD OH 45504 $66,062.94
600105407 MADERO-Q 11724 TALL TREE SAN ANTONIO TX 78230 $76,800.00
600105408 BROWNE 2012 EAST WOODLAND A SPRINGFIELD MO 65804 $79,500.00
600105409 COLON 1017 WARD STREET LAUREL MD 20707 $76,500.00
600105410 WHEELER 23140 COUZENS AVE HAZEL PARK MI 48030 $50,400.00
600105411 RAMSAY 565 CANDLER ST ATLANTA GA 30307 $117,600.00
600105412 BRULEY 1445 GULF OF MEXICO LONGBOAT KEY FL 34228 $200,000.00
600105413 SALADINO 5102 HOLSTEIN ROAD APOPKA FL 32712 $170,200.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105400 STUCKI 8.375 .250 8.125 .0500 8.075 10/01/2027
600105401 BOGART 8.125 .250 7.875 .0500 7.825 10/01/2027
600105402 DUCHARME 8.000 .250 7.750 .0500 7.700 11/01/2027
600105403 GETSINGE 8.375 .250 8.125 .0500 8.075 11/01/2027
600105404 WALDROP 7.875 .250 7.625 .0500 7.575 10/01/2027
600105405 KING 8.125 .250 7.875 .0500 7.825 10/01/2027
600105406 MCFADDEN 8.875 .250 8.625 .0500 8.575 10/01/2027
600105407 MADERO-Q 8.000 .250 7.750 .0500 7.700 11/01/2027
600105408 BROWNE 8.500 .250 8.250 .0500 8.200 11/01/2027
600105409 COLON 8.875 .250 8.625 .0500 8.575 11/01/2027
600105410 WHEELER 9.125 .250 8.875 .0500 8.825 11/01/2027
600105411 RAMSAY 8.500 .250 8.250 .0500 8.200 11/01/2027
600105412 BRULEY 8.000 .250 7.750 .0500 7.700 11/01/2027
600105413 SALADINO 8.250 .250 8.000 .0500 7.950 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105400 STUCKI 0948065 $1,579.05 11/01/1997 360
600105401 BOGART 0948119 $445.50 11/01/1997 360
600105402 DUCHARME 0948277 $1,074.97 11/01/1997 360
600105403 GETSINGE 0948283 $577.65 11/01/1997 360
600105404 WALDROP 0948310 $785.98 11/01/1997 360
600105405 KING 0948395 $742.50 11/01/1997 360
600105406 MCFADDEN 0949064 $525.92 12 11/01/1997 360
600105407 MADERO-Q 0949312 $563.53 11/01/1997 360
600105408 BROWNE 0949609 $611.29 11/01/1997 360
600105409 COLON 0949612 $608.67 12 11/01/1997 360
600105410 WHEELER 0949688 $410.07 12 11/01/1997 360
600105411 RAMSAY 0949924 $904.24 11/01/1997 360
600105412 BRULEY 0949933 $1,467.53 11/01/1997 360
600105413 SALADINO 0949938 $1,278.66 11/01/1997 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>
600105400 STUCKI $277,000.00 N
600105401 BOGART $180,000.00 N
600105402 DUCHARME $186,000.00 N
600105403 GETSINGE $95,000.00 N
600105404 WALDROP $135,500.00 N
600105405 KING $300,000.00 N
600105406 MCFADDEN $73,500.00 N
600105407 MADERO-Q $96,000.00 N
600105408 BROWNE $106,000.00 N
600105409 COLON $85,000.00 N
600105410 WHEELER $56,000.00 N
600105411 RAMSAY $150,500.00 N
600105412 BRULEY $260,000.00 N
600105413 SALADINO $230,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 199
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105414 YORK 495 ALLENS LANDING LAWRENCEVILLE GA 30243 $121,324.54
600105415 YORK 611 MAGNOLIA DRIVE LOGANVILLE GA 30052 $93,441.88
600105416 BOWEN 3195 RIVERMONT PARKW ALPHARETTA GA 30202 $148,600.00
600105417 MOAZAMI 4017 ALMOND COURT MARIETTA GA 30062 $171,884.58
600105418 GUION 3065 TYRONE LANE SARASOTA FL 34239 $70,600.00
600105419 BINKOWSK 36436 CLIFFORD DR STERLING HEIGHT MI 48312 $65,000.00
600105420 HINTON 5 MARY MUSGROVE D SAVANNAH GA 31410 $92,550.00
600105422 ALVAREZ 307 HARTWICK LANE HOUSTON TX 77037 $42,400.00
600105423 STEPHANI 917-19 WOODLIEF TRAIL ROUND ROCK TX 78664 $78,000.00
600105424 SCHEWDTF 1705 RUNNING BRANCH EDMOND OK 73034 $90,750.00
600105425 DAVID 7435 KOLMAR SKOKIE IL 60076 $120,000.00
600105426 DOUNG 1035 WOODSIDE HASLETT MI 48840 $110,000.00
600105427 BLAKEY 20 SUN COURT HIGHLAND IL 62249 $54,000.00
600105428 WIBLE 9138 STATE ROUTE 4 IRWIN OH 43029 $44,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105414 YORK 8.375 .250 8.125 .0500 8.075 10/01/2027
600105415 YORK 8.375 .250 8.125 .0500 8.075 10/01/2027
600105416 BOWEN 8.250 .250 8.000 .0500 7.950 11/01/2027
600105417 MOAZAMI 8.000 .250 7.750 .0500 7.700 10/01/2027
600105418 GUION 8.625 .250 8.375 .0500 8.325 11/01/2027
600105419 BINKOWSK 8.750 .250 8.500 .0500 8.450 11/01/2027
600105420 HINTON 7.750 .250 7.500 .0500 7.450 11/01/2027
600105422 ALVAREZ 7.875 .250 7.625 .0500 7.575 11/01/2027
600105423 STEPHANI 8.500 .250 8.250 .0500 8.200 11/01/2027
600105424 SCHEWDTF 8.000 .250 7.750 .0500 7.700 11/01/2027
600105425 DAVID 8.000 .250 7.750 .0500 7.700 11/01/2027
600105426 DOUNG 8.375 .250 8.125 .0500 8.075 11/01/2027
600105427 BLAKEY 8.125 .250 7.875 .0500 7.825 11/01/2027
600105428 WIBLE 8.750 .250 8.500 .0500 8.450 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105414 YORK 0950017 $922.73 2 11/01/1997 360
600105415 YORK 0950018 $710.67 2 11/01/1997 360
600105416 BOWEN 0950108 $1,116.38 11/01/1997 360
600105417 MOAZAMI 0950143 $1,262.08 11/01/1997 360
600105418 GUION 0950171 $549.12 11/01/1997 360
600105419 BINKOWSK 0950306 $511.36 11/01/1997 360
600105420 HINTON 0950309 $663.04 11/01/1997 360
600105422 ALVAREZ 0950449 $307.43 11/01/1997 360
600105423 STEPHANI 0950457 $599.75 11/01/1997 360
600105424 SCHEWDTF 0950544 $665.89 11/01/1997 360
600105425 DAVID 0950598 $880.52 11/01/1997 360
600105426 DOUNG 0950761 $836.08 11/01/1997 360
600105427 BLAKEY 0950774 $400.95 12 11/01/1997 360
600105428 WIBLE 0950800 $346.15 11/01/1997 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>
600105414 YORK $134,900.00 N
600105415 YORK $103,900.00 N
600105416 BOWEN $189,000.00 N
600105417 MOAZAMI $215,000.00 N
600105418 GUION $88,300.00 N
600105419 BINKOWSK $140,000.00 N
600105420 HINTON $118,625.00 N
600105422 ALVAREZ $53,000.00 N
600105423 STEPHANI $98,000.00 N
600105424 SCHEWDTF $121,000.00 N
600105425 DAVID $160,000.00 N
600105426 DOUNG $137,500.00 N
600105427 BLAKEY $60,000.00 N
600105428 WIBLE $65,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 200
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105429 KNOWLES 928 MARLBORO DRIVE DELAND FL 32724 $37,800.00
600105430 SMITH 961 WESTWOOD AVENUE ANN ARBOR MI 48103 $101,250.00
600105431 DIDZBALI 301 S NOLTON AVENUE WILLOW SPRINGS IL 60480 $168,750.00
600105432 HOHMANN 6502 LAS BRISAS DRIV HOUSTON TX 77083 $86,850.00
600105433 HARVILLE 2724 SPINNAKER COURT RICHMOND VA 23233 $98,800.00
600105434 RUTLAND 21 EAST POINT DRIV SAVANNAH GA 31410 $127,750.00
600105435 HOPPING 45548 CASS AVE UTICA MI 48317 $70,000.00
600105436 NANCE 1110 BILLY MC GEE RD LAWRENCEVILLE GA 30045 $99,200.00
600105437 RAY 445 CO RD 50 LEESBURG AL 35983 $70,000.00
600105438 LEHR 6011 HOUSEMAN RD OSTRANDER OH 43061 $200,000.00
600105439 PITCHER 432 W STROOP RD KETTERING OH 45429 $129,150.00
600105440 TROIANO 2324 HOLLAND ROAD MARION OH 43302 $85,500.00
600105441 CRAWFORD 621 DARTMOUTH TERRA WILDWOOD MO 63011 $213,600.00
600105442 FESHAN 1001 W LAKE BRANTLEY ALTAMONTE SPRIN FL 32714 $99,200.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105429 KNOWLES 8.750 .250 8.500 .0500 8.450 11/01/2027
600105430 SMITH 8.000 .250 7.750 .0500 7.700 11/01/2027
600105431 DIDZBALI 8.875 .250 8.625 .0500 8.575 11/01/2027
600105432 HOHMANN 8.500 .250 8.250 .0500 8.200 11/01/2027
600105433 HARVILLE 8.125 .250 7.875 .0500 7.825 11/01/2027
600105434 RUTLAND 7.875 .250 7.625 .0500 7.575 11/01/2027
600105435 HOPPING 8.750 .250 8.500 .0500 8.450 11/01/2027
600105436 NANCE 7.875 .250 7.625 .0500 7.575 11/01/2027
600105437 RAY 8.375 .250 8.125 .0500 8.075 11/01/2027
600105438 LEHR 8.500 .250 8.250 .0500 8.200 11/01/2027
600105439 PITCHER 8.375 .250 8.125 .0500 8.075 11/01/2027
600105440 TROIANO 8.125 .250 7.875 .0500 7.825 11/01/2027
600105441 CRAWFORD 8.500 .250 8.250 .0500 8.200 11/01/2027
600105442 FESHAN 8.250 .250 8.000 .0500 7.950 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105429 KNOWLES 0950890 $297.37 2 11/01/1997 360
600105430 SMITH 0950958 $742.94 11/01/1997 360
600105431 DIDZBALI 0951277 $1,342.65 12 11/01/1997 360
600105432 HOHMANN 0951594 $667.80 2 11/01/1997 360
600105433 HARVILLE 0951915 $733.59 11/01/1997 360
600105434 RUTLAND 0951923 $926.28 11/01/1997 360
600105435 HOPPING 0951980 $550.69 11/01/1997 360
600105436 NANCE 0953441 $719.27 11/01/1997 360
600105437 RAY 0953574 $532.05 11/01/1997 360
600105438 LEHR 0954125 $1,537.83 11/01/1997 360
600105439 PITCHER 0954310 $981.63 11/01/1997 360
600105440 TROIANO 0954412 $634.84 11/01/1997 360
600105441 CRAWFORD 0954769 $1,642.40 11/01/1997 360
600105442 FESHAN 0955106 $745.26 11/01/1997 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>
600105429 KNOWLES $42,000.00 N
600105430 SMITH $135,000.00 N
600105431 DIDZBALI $187,500.00 N
600105432 HOHMANN $96,500.00 N
600105433 HARVILLE $123,500.00 N
600105434 RUTLAND $159,700.00 N
600105435 HOPPING $104,000.00 N
600105436 NANCE $124,000.00 N
600105437 RAY $95,000.00 N
600105438 LEHR $295,000.00 N
600105439 PITCHER $172,250.00 N
600105440 TROIANO $106,900.00 N
600105441 CRAWFORD $267,000.00 N
600105442 FESHAN $124,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 201
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105443 VAIL 1334 SWALLOWS WALK GRAYSON GA 30221 $145,000.00
600105444 BENNETT 135 ASHLEY FOREST D FAYETTEVILLE GA 30214 $165,300.00
600105445 KING 7908 SW 11TH AVENUE PORTLAND OR 97219 $116,250.00
600105446 MILLS 8117 N 18TH PLACE PHOENIX AZ 85020 $95,897.30
600105447 ZMETRA 4804 W BAYBERRY STREET TUCSON AZ 85741 $92,700.00
600105448 ESQUIBEL 5423 STILLBROOKE AVE ALBUQUERQUE NM 87120 $84,000.00
600105449 GEIGER 2346 E SHANGRI LA ROAD PHOENIX AZ 85028 $112,000.00
600105450 PAWLAK 34 ADELAIDE DRIVE MARTINEZ CA 94553 $108,900.00
600105451 WYMAN 2229 SHELTER CREEK L SAN BRUNO CA 94066 $70,500.00
600105453 STRAUSMA 10310 STAFFORD LANE LOS ANGELES CA 91311 $200,000.00
600105455 SMITH 3926 SOUTHWEST TROY PORTLAND OR 97219 $97,600.00
600105456 TILLINGH 160 BROWN STREET NAPA CA 94559 $116,074.02
600105457 MATTOS 4646- BANCROFT S SAN DIEGO CA 92116 $89,822.17
600105458 FORNARO 50852 SMOKE TREE TRAI BASS LAKE CA 93604 $83,886.88
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105443 VAIL 7.750 .250 7.500 .0500 7.450 11/01/2027
600105444 BENNETT 8.625 .250 8.375 .0500 8.325 11/01/2027
600105445 KING 8.250 .250 8.000 .0500 7.950 11/01/2027
600105446 MILLS 7.875 .250 7.625 .0500 7.575 10/01/2027
600105447 ZMETRA 8.125 .250 7.875 .0500 7.825 11/01/2027
600105448 ESQUIBEL 8.750 .250 8.500 .0500 8.450 11/01/2027
600105449 GEIGER 8.625 .250 8.375 .0500 8.325 11/01/2027
600105450 PAWLAK 9.125 .250 8.875 .0500 8.825 11/01/2027
600105451 WYMAN 8.500 .250 8.250 .0500 8.200 11/01/2027
600105453 STRAUSMA 8.125 .250 7.875 .0500 7.825 11/01/2027
600105455 SMITH 7.875 .250 7.625 .0500 7.575 11/01/2027
600105456 TILLINGH 8.125 .250 7.875 .0500 7.825 10/01/2027
600105457 MATTOS 8.125 .250 7.875 .0500 7.825 08/01/2027
600105458 FORNARO 8.000 .250 7.750 .0500 7.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105443 VAIL 0955223 $1,038.80 11/01/1997 360
600105444 BENNETT 0955611 $1,285.69 11/01/1997 360
600105445 KING 6211619 $873.35 11/01/1997 360
600105446 MILLS 6212806 $696.07 11/01/1997 360
600105447 ZMETRA 6212865 $688.30 11/01/1997 360
600105448 ESQUIBEL 6212922 $660.83 11/01/1997 360
600105449 GEIGER 6212936 $871.13 11/01/1997 360
600105450 PAWLAK 6216053 $886.05 11/01/1997 360
600105451 WYMAN 6216159 $542.09 11/01/1997 360
600105453 STRAUSMA 6217383 $1,485.00 11/01/1997 360
600105455 SMITH 6220006 $707.67 11/01/1997 360
600105456 TILLINGH 6233566 $862.41 11/01/1997 360
600105457 MATTOS 6269923 $668.25 11/01/1997 360
600105458 FORNARO 6274967 $616.37 11/01/1997 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>
600105443 VAIL $284,682.00 N
600105444 BENNETT $206,637.00 N
600105445 KING $155,000.00 N
600105446 MILLS $166,000.00 N
600105447 ZMETRA $115,900.00 N
600105448 ESQUIBEL $115,000.00 N
600105449 GEIGER $150,000.00 N
600105450 PAWLAK $198,000.00 N
600105451 WYMAN $94,000.00 N
600105453 STRAUSMA $400,000.00 N
600105455 SMITH $122,000.00 N
600105456 TILLINGH $168,500.00 N
600105457 MATTOS $150,000.00 N
600105458 FORNARO $112,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 202
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105459 BALLEW 1435 SE MAPLE ST MILWAUKIE OR 97267 $76,952.14
600105460 BONNER 5214 ELK RUN DRIVE S ALBANY OR 97321 $105,050.00
600105461 ANDERSON 5249 E THUNDERBIRD ROA SCOTTSDALE AZ 85254 $115,430.02
600105462 BETHURUM 4113 N 56TH ST PHOENIX AZ 85018 $164,900.04
600105463 PATTERSO 328 UTAH STREET NE ALBUQUERQUE NM 87108 $61,564.56
600105464 HOUGHTON ROUTE 19 BOX 52-C SANTA FE NM 87505 $160,899.94
600105465 KUTSURIS 1201 GLEN COVE PARKW VALLEJO CA 94591 $70,801.23
600105466 HARNEY 995 FILER AVENUE W TWIN FALLS ID 83301 $57,000.00
600105467 JACKSON 8524 COPPER FALLS AV LAS VEGAS NV 89129 $168,000.00
600105468 BRIGNONE 1025 WASHINGTON OAKS LAS VEGAS NV 89128 $141,300.00
600105469 CRENSHAW 8224 FAWN BROOK COUR LAS VEGAS NV 89129 $156,600.00
600105470 MILLER 2409 STONEHEDGE DRIV NAMPA ID 83686 $66,761.56
600105471 ARIZMEND 959 OQUIRRH STREET WENDOVER NV 89883 $88,944.68
600105472 STIRLAND 1708 WEST 4600 SOUTH SPANISH FORK UT 84660 $163,393.05
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105459 BALLEW 8.375 .250 8.125 .0500 8.075 10/01/2027
600105460 BONNER 8.125 .250 7.875 .0500 7.825 11/01/2027
600105461 ANDERSON 8.500 .250 8.250 .0500 8.200 10/01/2027
600105462 BETHURUM 8.500 .250 8.250 .0500 8.200 10/01/2027
600105463 PATTERSO 8.750 .250 8.500 .0500 8.450 10/01/2027
600105464 HOUGHTON 8.375 .250 8.125 .0500 8.075 10/01/2027
600105465 KUTSURIS 7.875 .250 7.625 .0500 7.575 10/01/2027
600105466 HARNEY 8.375 .250 8.125 .0500 8.075 11/01/2027
600105467 JACKSON 8.875 .250 8.625 .0500 8.575 11/01/2027
600105468 BRIGNONE 7.875 .250 7.625 .0500 7.575 11/01/2027
600105469 CRENSHAW 8.875 .250 8.625 .0500 8.575 11/01/2027
600105470 MILLER 8.750 .250 8.500 .0500 8.450 10/01/2027
600105471 ARIZMEND 8.375 .250 8.125 .0500 8.075 10/01/2027
600105472 STIRLAND 8.125 .250 7.875 .0500 7.825 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105459 BALLEW 6311645 $585.26 11/01/1997 360
600105460 BONNER 6311895 $780.00 11/01/1997 360
600105461 ANDERSON 6312574 $888.10 11/01/1997 360
600105462 BETHURUM 6312620 $1,268.71 11/01/1997 360
600105463 PATTERSO 6312625 $484.61 11/01/1997 360
600105464 HOUGHTON 6313177 $1,223.71 11/01/1997 360
600105465 KUTSURIS 6395535 $513.72 11/01/1997 360
600105466 HARNEY 7007435 $433.24 11/01/1997 360
600105467 JACKSON 7108753 $1,336.68 1 11/01/1997 360
600105468 BRIGNONE 7111052 $1,024.52 11/01/1997 360
600105469 CRENSHAW 7131853 $1,245.98 11/01/1997 360
600105470 MILLER 7139532 $525.52 11/01/1997 360
600105471 ARIZMEND 7143488 $676.46 11/01/1997 360
600105472 STIRLAND 7144488 $1,213.98 11/01/1997 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>
600105459 BALLEW $110,000.00 N
600105460 BONNER $131,350.00 N
600105461 ANDERSON $190,000.00 N
600105462 BETHURUM $220,000.00 N
600105463 PATTERSO $88,000.00 N
600105464 HOUGHTON $230,000.00 N
600105465 KUTSURIS $94,500.00 N
600105466 HARNEY $140,000.00 N
600105467 JACKSON $186,700.00 N
600105468 BRIGNONE $176,644.00 N
600105469 CRENSHAW $195,800.00 N
600105470 MILLER $83,500.00 N
600105471 ARIZMEND $120,000.00 N
600105472 STIRLAND $218,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 203
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105473 RAWLINSO 154 NORTH 300 WEST DELTA UT 84624 $35,079.80
600105475 MARTINEZ 138 EAST 1900 SOUTH CLEARFIELD UT 84015 $112,000.00
600105476 PATTERSO 11303 W HICKORY LOOP BOISE ID 83713 $167,000.00
600105477 ORR 102 EAST 500 SOUTH FARMINGTON UT 84025 $117,000.00
600105478 STEED 2594 WEST 1800 NORTH FARR WEST UT 84404 $175,887.77
600105479 JACKSON 6698 SOUTH 1300 EAST SALT LAKE CITY UT 84121 $132,223.88
600105480 WALKER D 8410 ELDORA STREET # LAS VEGAS NV 89117 $67,908.83
600105481 MONSTROL 3363 SOUTH PIONEER S SALT LAKE CITY UT 84109 $87,948.04
600105482 HAYES JR 4627 SOUTH BROOKWOOD SALT LAKE CITY UT 84117 $125,122.18
600106232 BARRICK 220 GILKISON KALAMAZOO MI 49006 $59,824.86
600106233 KARPUSZK 3475 CRYSTAL PLACE WAYZATA MN 55391 $56,147.06
600106234 TILLETT 101 CRANBERRY DRIVE E GREENFIELD IN 46140 $97,302.42
600106236 HICKS 12489 CARMEL GARDEN CARMEL IN 46032 $91,700.00
600106237 DAVIS 8851 RAVINE AVE PICKERINGTON OH 43147 $102,868.20
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105473 RAWLINSO 8.750 .250 8.500 .0500 8.450 10/01/2027
600105475 MARTINEZ 8.000 .250 7.750 .0500 7.700 11/01/2027
600105476 PATTERSO 8.250 .250 8.000 .0500 7.950 11/01/2027
600105477 ORR 8.000 .250 7.750 .0500 7.700 11/01/2027
600105478 STEED 8.250 .250 8.000 .0500 7.950 10/01/2027
600105479 JACKSON 8.750 .250 8.500 .0500 8.450 10/01/2027
600105480 WALKER D 8.500 .250 8.250 .0500 8.200 10/01/2027
600105481 MONSTROL 8.625 .250 8.375 .0500 8.325 10/01/2027
600105482 HAYES JR 8.375 .250 8.125 .0500 8.075 10/01/2027
600106232 BARRICK 8.750 .250 8.500 .0500 8.450 06/01/2027
600106233 KARPUSZK 8.500 .250 8.250 .0500 8.200 08/01/2027
600106234 TILLETT 8.000 .250 7.750 .0500 7.700 08/01/2027
600106236 HICKS 8.250 .250 8.000 .0500 7.950 11/01/2027
600106237 DAVIS 8.250 .250 8.000 .0500 7.950 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600105473 RAWLINSO 7145488 $276.13 12 11/01/1997 360
600105475 MARTINEZ 7160788 $821.82 11/01/1997 360
600105476 PATTERSO 7217731 $1,254.62 11/01/1997 360
600105477 ORR 7233328 $858.50 11/01/1997 360
600105478 STEED 7237111 $1,322.23 11/01/1997 360
600105479 JACKSON 7479910 $1,040.80 12 11/01/1997 360
600105480 WALKER D 7480620 $522.48 11/01/1997 360
600105481 MONSTROL 7605919 $684.46 11/01/1997 360
600105482 HAYES JR 7606419 $951.61 11/01/1997 360
600106232 BARRICK 923053 $472.02 11/01/1997 360
600106233 KARPUSZK 934230 $432.51 11/01/1997 360
600106234 TILLETT 935658 $715.42 11/01/1997 360
600106236 HICKS 938376 $688.91 11/01/1997 360
600106237 DAVIS 943305 $773.80 11/01/1997 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>
600105473 RAWLINSO $39,000.00 N
600105475 MARTINEZ $140,000.00 N
600105476 PATTERSO $237,000.00 N
600105477 ORR $162,500.00 N
600105478 STEED $250,000.00 N
600105479 JACKSON $147,000.00 N
600105480 WALKER D $84,950.00 N
600105481 MONSTROL $118,000.00 N
600105482 HAYES JR $156,500.00 N
600106232 BARRICK $80,000.00 N
600106233 KARPUSZK $75,000.00 N
600106234 TILLETT $130,000.00 N
600106236 HICKS $121,700.00 N
600106237 DAVIS $150,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 204
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600106239 HASTON 5231 BEIGE STREET JACKSONVILLE FL 32258 $79,152.02
600106240 WILSON 1550 NW BLYTHE DRIVE GRAND RAPIDS MI 49504 $120,000.00
600106241 BRILL 1622 WEST ALTGELO AVENUE CHICAGO IL 60614 $178,500.00
600106242 VAN NGUY 2331 FAIRVIEW TERRACE ALEXANDRIA VA 22303 $62,400.00
600106243 KICKLIGH 630 QUEENS HARBOUR BOULEV JACKSONVILLE FL 32225 $179,888.12
600106244 HARPER 8713 FOXCHASE LANE CHARLOTTE NC 28269 $96,000.00
600106246 PLUMMER 415 NORTH ELMWOOD AVENUE OAK PARK IL 60302 $198,750.00
600106248 GREEN 7109 ODELL AVENUE ROCKWALL TX 75087 $101,000.00
600106249 ZOERHOF 5727 142ND AVENUE HOLLAND MI 49423 $100,000.00
600106250 SMIGIEL 1050 DAYTON ST SW GRAND RAPIDS MI 49504 $46,400.00
600106253 LITTLE 3808 ELBERN AVE WHITEHALL OH 43213 $40,000.00
600106254 PORTREY 5905 COOLEY LAKE ROAD WHITE LAKE MI 48383 $136,914.84
600106255 BLATCHFO 1360 N SANDBURG CHICAGO IL 60610 $60,000.00
600106256 BELL 4104 S KILLARNEY DRIVE NEDERLAND TX 77627 $61,200.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600106239 HASTON 8.500 .250 8.250 .0500 8.200 10/01/2027
600106240 WILSON 8.375 .250 8.125 .0500 8.075 11/01/2027
600106241 BRILL 8.625 .250 8.375 .0500 8.325 11/01/2027
600106242 VAN NGUY 8.250 .250 8.000 .0500 7.950 11/01/2027
600106243 KICKLIGH 8.375 .250 8.125 .0500 8.075 10/01/2027
600106244 HARPER 8.250 .250 8.000 .0500 7.950 11/01/2027
600106246 PLUMMER 8.250 .250 8.000 .0500 7.950 11/01/2027
600106248 GREEN 8.250 .250 8.000 .0500 7.950 11/01/2027
600106249 ZOERHOF 8.500 .250 8.250 .0500 8.200 11/01/2027
600106250 SMIGIEL 8.375 .250 8.125 .0500 8.075 11/01/2027
600106253 LITTLE 8.750 .250 8.500 .0500 8.450 11/01/2027
600106254 PORTREY 8.375 .250 8.125 .0500 8.075 10/01/2027
600106255 BLATCHFO 8.375 .250 8.125 .0500 8.075 11/01/2027
600106256 BELL 8.500 .250 8.250 .0500 8.200 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600106239 HASTON 946524 $608.98 11/01/1997 360
600106240 WILSON 947209 $912.09 11/01/1997 360
600106241 BRILL 947249 $1,388.35 11/01/1997 360
600106242 VAN NGUY 947940 $468.79 11/01/1997 360
600106243 KICKLIGH 948320 $1,368.13 11/01/1997 360
600106244 HARPER 948477 $721.22 11/01/1997 360
600106246 PLUMMER 948850 $1,493.14 11/01/1997 360
600106248 GREEN 949366 $758.78 11/01/1997 360
600106249 ZOERHOF 949561 $768.91 11/01/1997 360
600106250 SMIGIEL 949581 $352.67 11/01/1997 360
600106253 LITTLE 950332 $314.68 11/01/1997 360
600106254 PORTREY 950987 $1,041.30 11/01/1997 360
600106255 BLATCHFO 951214 $456.04 11/01/1997 360
600106256 BELL 951260 $470.58 11/01/1997 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>
600106239 HASTON $99,000.00 N
600106240 WILSON $150,000.00 N
600106241 BRILL $255,000.00 N
600106242 VAN NGUY $78,000.00 N
600106243 KICKLIGH $240,000.00 N
600106244 HARPER $120,000.00 N
600106246 PLUMMER $265,000.00 N
600106248 GREEN $151,000.00 N
600106249 ZOERHOF $125,000.00 N
600106250 SMIGIEL $58,000.00 N
600106253 LITTLE $65,000.00 N
600106254 PORTREY $183,000.00 N
600106255 BLATCHFO $75,000.00 N
600106256 BELL $76,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 205
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600106257 BOTHWELL 637 SQUIRE CT NAPLES FL 34104 $63,000.00
600106258 FORD 1001 DIXON AVE LOUISVILLE KY 40217 $38,250.00
600106259 ARGENTO 2090 HABERSHAM MARINA CUMMING GA 30041 $147,800.00
600106260 MORGAN 971 HWY 169 SOUTH SEALE AL 36875 $88,500.00
600106261 LINDLER 77 BROWN PELLICAN DRIVE SAVANNAH GA 31419 $50,000.00
600106263 LAPORTA 103 NORTH MAIN STREET CHANA IL 61015 $44,000.00
600106264 ANDERSON 2022 PINE RIDGE DRIVE CLEARWATER FL 33763 $55,000.00
600106265 RODRIGUE 407 HEDGEWOOD TERRACE GREER SC 29650 $116,000.00
600106266 BLAIR 717 VIRGINIA ST DUNEDIN FL 34698 $61,200.00
600106267 COLE 3032 IRONHILL WAY WOODSTOCK GA 30189 $164,800.00
600106268 WHITFIEL 2241 WEST MADISON ST LOUISVILLE KY 40211 $41,250.00
600106269 KERSHTEY 1738 TAYLOR STREET ATLANTA GA 30318 $247,500.00
600106270 GALLOWAY 3792 S. BARBIZON CIRCLE JACKSONVILLE FL 32257 $55,200.00
600106271 POSAVAD 6139 MELSHORE DR MENTOR OH 44060 $104,250.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600106257 BOTHWELL 8.250 .250 8.000 .0500 7.950 11/01/2027
600106258 FORD 8.750 .250 8.500 .0500 8.450 11/01/2027
600106259 ARGENTO 7.875 .250 7.625 .0500 7.575 11/01/2027
600106260 MORGAN 8.500 .250 8.250 .0500 8.200 11/01/2027
600106261 LINDLER 7.750 .250 7.500 .0500 7.450 11/01/2027
600106263 LAPORTA 9.000 .250 8.750 .0500 8.700 11/01/2027
600106264 ANDERSON 7.875 .250 7.625 .0500 7.575 11/01/2027
600106265 RODRIGUE 8.875 .250 8.625 .0500 8.575 11/01/2027
600106266 BLAIR 8.125 .250 7.875 .0500 7.825 11/01/2027
600106267 COLE 8.000 .250 7.750 .0500 7.700 11/01/2027
600106268 WHITFIEL 8.625 .250 8.375 .0500 8.325 11/01/2027
600106269 KERSHTEY 8.250 .250 8.000 .0500 7.950 11/01/2027
600106270 GALLOWAY 8.500 .250 8.250 .0500 8.200 11/01/2027
600106271 POSAVAD 7.875 .250 7.625 .0500 7.575 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600106257 BOTHWELL 952952 $473.30 11/01/1997 360
600106258 FORD 953435 $300.91 18 11/01/1997 360
600106259 ARGENTO 953531 $1,071.65 11/01/1997 360
600106260 MORGAN 953676 $680.49 11/01/1997 360
600106261 LINDLER 954184 $358.21 11/01/1997 360
600106263 LAPORTA 954718 $354.03 12 11/01/1997 360
600106264 ANDERSON 955151 $398.79 11/01/1997 360
600106265 RODRIGUE 955159 $922.95 11/01/1997 360
600106266 BLAIR 955176 $454.41 2 11/01/1997 360
600106267 COLE 955213 $1,209.24 11/01/1997 360
600106268 WHITFIEL 955228 $320.84 11/01/1997 360
600106269 KERSHTEY 955362 $1,859.38 11/01/1997 360
600106270 GALLOWAY 955469 $424.44 11/01/1997 360
600106271 POSAVAD 955538 $755.88 11/01/1997 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>
600106257 BOTHWELL $78,750.00 N
600106258 FORD $42,500.00 N
600106259 ARGENTO $184,800.00 N
600106260 MORGAN $115,000.00 N
600106261 LINDLER $95,000.00 N
600106263 LAPORTA $49,000.00 N
600106264 ANDERSON $69,500.00 N
600106265 RODRIGUE $145,000.00 N
600106266 BLAIR $68,000.00 N
600106267 COLE $230,000.00 N
600106268 WHITFIEL $55,000.00 N
600106269 KERSHTEY $330,000.00 N
600106270 GALLOWAY $92,000.00 N
600106271 POSAVAD $139,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 206
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600106272 KASHOUTY 11171 E 11 MILE ROAD WARREN MI 48093 $115,650.00
600106273 GORDON 29710 MORWEN PLACE WESLEY CHAPEL FL 33543 $97,400.00
600106274 LEE JR 1400 GRANDVIEW DR NASHVILLE TN 37215 $72,000.00
600106275 STUART 612 DELAWARE AVENUE E DAYTON OH 45405 $71,362.00
600106277 STURGESS 24 EAST LIBERTY STREET SAVANNAH GA 31401 $85,500.00
600106278 OLIVERIA 2 SQUIRE COURT NATICK MA 01760 $78,000.00
600106279 MARRON 35820 N 11TH AVENUE PHOENIX AZ 85027 $186,000.00
600106280 BAKER 724 GAIL GARDENER WAY PRESCOTT AZ 86301 $56,250.00
600106281 NICHOLSO 6429 WEST CAMELBACK ROAD PHOENIX AZ 85033 $64,000.00
600106282 VILLALOB 4454 FORT WORTH DRIVE SIMI VALLEY CA 93063 $142,863.39
600106283 SPEARS 1316 W 96TH STREET LOS ANGELES ARE CA 90044 $92,250.00
600106285 BILNA 7047 SANTA ANITA CIRCLE BUENA PARK CA 90620 $143,898.36
600106286 HOLLINGS 14954 SE WY EAST AVENUE CLACKAMAS OR 97015 $121,500.00
600106287 FELDNER 16249 E GLENBROOK BOULEVA FOUNTAIN HILLS AZ 85268 $123,623.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600106272 KASHOUTY 8.750 .250 8.500 .0500 8.450 11/01/2027
600106273 GORDON 8.000 .250 7.750 .0500 7.700 11/01/2027
600106274 LEE JR 8.375 .250 8.125 .0500 8.075 11/01/2027
600106275 STUART 7.875 .250 7.625 .0500 7.575 11/01/2027
600106277 STURGESS 8.250 .250 8.000 .0500 7.950 11/01/2027
600106278 OLIVERIA 7.750 .250 7.500 .0500 7.450 11/01/2027
600106279 MARRON 8.500 .250 8.250 .0500 8.200 11/01/2027
600106280 BAKER 9.000 .250 8.750 .0500 8.700 11/01/2027
600106281 NICHOLSO 8.875 .250 8.625 .0500 8.575 11/01/2027
600106282 VILLALOB 8.500 .250 8.250 .0500 8.200 10/01/2027
600106283 SPEARS 8.375 .250 8.125 .0500 8.075 11/01/2027
600106285 BILNA 7.750 .250 7.500 .0500 7.450 10/01/2027
600106286 HOLLINGS 8.750 .250 8.500 .0500 8.450 11/01/2027
600106287 FELDNER 8.375 .250 8.125 .0500 8.075 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600106272 KASHOUTY 955539 $909.82 12 11/01/1997 360
600106273 GORDON 955672 $714.69 11/01/1997 360
600106274 LEE JR 955716 $547.25 11/01/1997 360
600106275 STUART 956610 $517.42 11/01/1997 360
600106277 STURGESS 957138 $642.33 2 11/01/1997 360
600106278 OLIVERIA 957611 $558.80 11/01/1997 360
600106279 MARRON 6212694 $1,430.18 11/01/1997 360
600106280 BAKER 6212781 $452.60 11/01/1997 360
600106281 NICHOLSO 6212924 $509.22 11/01/1997 360
600106282 VILLALOB 6215198 $1,099.17 11/01/1997 360
600106283 SPEARS 6215846 $701.17 12 11/01/1997 360
600106285 BILNA 6217038 $1,031.64 11/01/1997 360
600106286 HOLLINGS 6311897 $955.84 11/01/1997 360
600106287 FELDNER 6312634 $940.21 11/01/1997 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>
600106272 KASHOUTY $128,500.00 N
600106273 GORDON $129,900.00 N
600106274 LEE JR $212,000.00 N
600106275 STUART $95,000.00 N
600106277 STURGESS $95,000.00 N
600106278 OLIVERIA $118,000.00 N
600106279 MARRON $232,500.00 N
600106280 BAKER $75,000.00 N
600106281 NICHOLSO $80,000.00 N
600106282 VILLALOB $185,000.00 N
600106283 SPEARS $102,500.00 N
600106285 BILNA $180,000.00 N
600106286 HOLLINGS $162,000.00 N
600106287 FELDNER $165,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 207
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600106289 BRAY 2407 1/2 KNOWLES SELMA CA 93662 $67,500.00
600106290 LABYER 11 PELICAN COURT PITTSBURG CA 94565 $118,800.00
600106291 JANOUSEK LOT 13/14 FAIRFIELD WEST MAGIC ID 83327 $120,000.00
600106292 MCKINSTR 5308 GRANITE AVENUE N ALBUQUERQUE NM 87110 $54,580.06
600106296 MAACK JR 4280 SOUTH VEGAS WAY SALT LAKE CITY UT 84124 $162,300.00
600106297 KARRAS 3767 SOUTH 600 WEST RIVERDALE UT 84405 $109,600.00
600106298 BRAVIN 1101 DREAMLAND CIRCLE LAS VEGAS NV 89108 $84,750.00
600106299 OCHITWA 7757 EAGLE LAKE AVENUE LAS VEGAS NV 89117 $135,000.00
600106300 PABLO SR 2863 DESTINO LANE HENDERSON NV 89014 $64,500.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600106289 BRAY 8.000 .250 7.750 .0500 7.700 11/01/2027
600106290 LABYER 7.750 .250 7.500 .0500 7.450 11/01/2027
600106291 JANOUSEK 8.500 .250 8.250 .0500 8.200 11/01/2027
600106292 MCKINSTR 8.250 .250 8.000 .0500 7.950 09/01/2027
600106296 MAACK JR 8.125 .250 7.875 .0500 7.825 11/01/2027
600106297 KARRAS 8.375 .250 8.125 .0500 8.075 11/01/2027
600106298 BRAVIN 9.500 .250 9.250 .0500 9.200 11/01/2027
600106299 OCHITWA 8.125 .250 7.875 .0500 7.825 11/01/2027
600106300 PABLO SR 9.250 .250 9.000 .0500 8.950 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600106289 BRAY 6314117 $495.30 11/01/1997 360
600106290 LABYER 6395559 $851.10 11/01/1997 360
600106291 JANOUSEK 7013335 $922.70 11/01/1997 360
600106292 MCKINSTR 7063040 $410.57 11/01/1997 360
600106296 MAACK JR 7162688 $1,205.07 11/01/1997 360
600106297 KARRAS 7366111 $833.04 11/01/1997 360
600106298 BRAVIN 7472320 $712.62 11/01/1997 360
600106299 OCHITWA 7478220 $1,002.37 12 11/01/1997 360
600106300 PABLO SR 7486020 $530.63 11/01/1997 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>
600106289 BRAY $90,000.00 N
600106290 LABYER $148,500.00 N
600106291 JANOUSEK $160,000.00 N
600106292 MCKINSTR $75,000.00 N
600106296 MAACK JR $216,500.00 N
600106297 KARRAS $137,000.00 N
600106298 BRAVIN $113,000.00 N
600106299 OCHITWA $150,000.00 N
600106300 PABLO SR $186,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 208
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 10:08:24 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1402 POOL NAME: 97-8 Grp I PNC MS
<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 2893 0 324,056,135.30 459,332,260.00 324,443,223.00 2,471,959.21
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:25:42 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II INMC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103429 Wong 167 26th Avenue San Francisco CA 94121 $363,444.34
600103493 Logan 201 Kehm Drive Queenstown MD 21658 $253,871.42
600103778 Fisher Paul D 4521 194th Way Redmond WA 98053 $274,590.54
600103810 Cirone Nanci G 69 Sunset Rock Road Lebanon NH 3766 $349,312.89
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103429 Wong 7.375 .375 7.000 .0500 6.950 09/01/2027
600103493 Logan 7.500 .375 7.125 .0500 7.075 09/01/2027
600103778 Fisher Paul D 7.500 .375 7.125 .0500 7.075 09/01/2027
600103810 Cirone Nanci G 7.500 .375 7.125 .0500 7.075 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>
600103429 Wong 261545 $2,514.06 11/01/1997 360
600103493 Logan 268634 $1,777.76 11/01/1997 360
600103778 Fisher Paul D 273887 $1,922.84 11/01/1997 360
600103810 Cirone Nanci G 276627 $2,461.24 11/01/1997 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>
600103429 Wong $800,000.00 N
600103493 Logan $339,000.00 N
600103778 Fisher Paul D $374,000.00 N
600103810 Cirone Nanci G $440,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:25:42 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II INMC MS
<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 4 0 1,241,219.19 1,953,000.00 1,245,250.00 8,675.90
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500063152 MCGARVEY,STEVEN J&DIANE M 91 EMS T 36 LEESBURG IN 46538 $317,072.52
500064491 CARINO,JAMES E & JANICE A 16177 WATERBURY BEND GRANGER IN 46530 $281,751.36
500064538 GAFEN,IRWIN C 35 PARTRIDGE RUN EAST GREENWICH RI 02818 $226,916.59
500064662 GRALA,WILLIAM L 29836 OLD HWY 87 BUFFALO WY 82834 $249,002.05
500065256 SCHWEIGHOFER,RAYMOND S 104 HOMESTEAD COURT MOORESTOWN NJ 08057 $319,246.59
500065259 SACHDEV,KULTAR S 11459 ALBORADA DRIVE SAN DIEGO CA 92127 $247,293.05
500065260 YEATMAN,ROBERT H JR 109 LAHINCH COURT MIDDLETOWN DE 19709 $231,505.58
500065264 GOLDBERG,MARSHALL M. 790 RANCH LANE LOS ANGELES (PA CA 90272 $598,753.09
500065271 SCHUTZ,PAMELA S 211 CORTLAND AVENUE WINTER PARK FL 32789 $299,344.46
500065273 SMILEY,JEROME P 760 ROSEDALE AVENUE ROSELLE IL 60172 $213,020.64
500065286 FURNEY,MICHAEL 3812 HOUNDSTOOTH COURT RICHMOND VA 23233 $258,711.25
500065287 SEBOLD,DWAYNE H 125 HAYES PLACE CENTERPORT NY 11721 $227,397.32
500065288 CALHOUN,KENNETH H 5675 BUCKHOLLOW DR. ALPHARETTA GA 30202 $293,590.07
500065305 COMBS,THEODORE B 315 LAKEMONT CIRCLE FRANKLIN TN 37067 $264,904.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500063152 MCGARVEY,STEVEN J&DIANE M 8.000 .250 7.750 .0500 7.700 09/01/2027
500064491 CARINO,JAMES E & JANICE A 7.375 .250 7.125 .0500 7.075 08/01/2027
500064538 GAFEN,IRWIN C 7.250 .150 7.100 .1000 7.000 05/01/2027
500064662 GRALA,WILLIAM L 8.125 .250 7.875 .0500 7.825 05/01/2027
500065256 SCHWEIGHOFER,RAYMOND S 7.250 .150 7.100 .1000 7.000 08/01/2027
500065259 SACHDEV,KULTAR S 7.750 .250 7.500 .0500 7.450 07/01/2027
500065260 YEATMAN,ROBERT H JR 7.750 .150 7.600 .1000 7.500 08/01/2027
500065264 GOLDBERG,MARSHALL M. 7.875 .250 7.625 .0500 7.575 08/01/2027
500065271 SCHUTZ,PAMELA S 7.625 .150 7.475 .1000 7.375 08/01/2027
500065273 SMILEY,JEROME P 7.625 .150 7.475 .1000 7.375 08/01/2027
500065286 FURNEY,MICHAEL 7.875 .150 7.725 .1000 7.625 08/01/2027
500065287 SEBOLD,DWAYNE H 8.125 .250 7.875 .0500 7.825 07/01/2027
500065288 CALHOUN,KENNETH H 7.625 .150 7.475 .1000 7.375 08/01/2027
500065305 COMBS,THEODORE B 8.000 .150 7.850 .1000 7.750 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500063152 MCGARVEY,STEVEN J&DIANE M 110129742 $2,329.70 11/01/1997 360
500064491 CARINO,JAMES E & JANICE A 110143727 $1,950.47 11/01/1997 360
500064538 GAFEN,IRWIN C 092423647 $1,555.36 11/01/1997 360
500064662 GRALA,WILLIAM L 092426206 $1,856.24 11/01/1997 360
500065256 SCHWEIGHOFER,RAYMOND S 092421287 $2,182.96 11/01/1997 360
500065259 SACHDEV,KULTAR S 092430931 $1,776.70 11/01/1997 360
500065260 YEATMAN,ROBERT H JR 092434532 $1,662.08 11/01/1997 360
500065264 GOLDBERG,MARSHALL M. 092438145 $4,350.42 11/01/1997 360
500065271 SCHUTZ,PAMELA S 092442091 $2,123.38 11/01/1997 360
500065273 SMILEY,JEROME P 092444360 $1,521.76 11/01/1997 360
500065286 FURNEY,MICHAEL 092438128 $1,879.74 12 11/01/1997 360
500065287 SEBOLD,DWAYNE H 092441982 $1,692.90 2 11/01/1997 360
500065288 CALHOUN,KENNETH H 092445027 $2,082.56 12 11/01/1997 360
500065305 COMBS,THEODORE B 092436079 $1,947.72 3 11/01/1997 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>
500063152 MCGARVEY,STEVEN J&DIANE M .00 .00 .00 .000 .250 .300 $540,000.00 N
500064491 CARINO,JAMES E & JANICE A .00 .00 .00 .000 .250 .300 $353,000.00 N
500064538 GAFEN,IRWIN C .00 .00 .00 .000 .150 .250 $285,000.00 N
500064662 GRALA,WILLIAM L .00 .00 .00 .000 .250 .300 $503,000.00 N
500065256 SCHWEIGHOFER,RAYMOND S .00 .00 .00 .000 .150 .250 $400,000.00 N
500065259 SACHDEV,KULTAR S .00 .00 .00 .000 .250 .300 $310,000.00 N
500065260 YEATMAN,ROBERT H JR .00 .00 .00 .000 .150 .250 $290,000.00 N
500065264 GOLDBERG,MARSHALL M. .00 .00 .00 .000 .250 .300 $1,695,000.00 N
500065271 SCHUTZ,PAMELA S .00 .00 .00 .000 .150 .250 $435,000.00 N
500065273 SMILEY,JEROME P .00 .00 .00 .000 .150 .250 $287,000.00 N
500065286 FURNEY,MICHAEL .00 .00 .00 .000 .150 .250 $305,000.00 N
500065287 SEBOLD,DWAYNE H .00 .00 .00 .000 .250 .300 $240,000.00 N
500065288 CALHOUN,KENNETH H .00 .00 .00 .000 .150 .250 $326,926.11 N
500065305 COMBS,THEODORE B .00 .00 .00 .000 .150 .250 $280,399.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065306 CHICHESTER,ROBERT 11626 DEER FOREST ROAD RESTON VA 20194 $293,903.22
500065307 TOMA,JAY C 2345 MEADOWGLEN WAY UPLAND CA 91784 $234,309.45
500065308 KOBA,LAWRENCE J 125 SANDERLING DRIVE GREENVILLE SC 29607 $239,681.81
500065310 REYES,LEONARD L 3354 KENSINGTON DRIVE EL DORADO HILLS CA 95762 $272,104.13
500065319 BEIRIGER,IRENE A 11877 E. PARKVIEW LANE SCOTTSDALE AZ 85255 $311,247.05
500065321 KONONOV,ABIGAIL E 3333 BRITTANY CIRCLE NAPA CA 94558 $230,332.79
500065323 SUTTON,PETER A 6130 E HUNTRESS DR PARADISE VALLEY AZ 85253 $498,822.78
500065329 ELLIS,CHRISTINA H & ABEL, 228 WHITING LANE CLARKSON VALLEY MO 63005 $223,752.71
500065330 WALSH,JOHN T & ROBIN L 1623 BROKEN REINS COURT CLARKSON VALLEY MO 63005 $328,265.03
500065349 MILNES,R DANA 2485 LAMPLIGHTER LANE BROOKFIELD WI 53045 $237,492.81
500065351 SNOW,SHELDON M 18765 MAPLEWOOD LANE NORTHRIDGE CA 91326 $359,643.72
500065352 DAVIDOVITS,GIORA 16 CARTER LANE ANDOVER MA 01810 $458,994.84
500065353 BREMS,JOHN J 6459 MANOR BURR RIDGE IL 60521 $479,051.64
500065354 MODZELEWSKI,GERALD PETER 4 OKIE DRIVE TOWNSHIP OF NEW PA 19350 $406,041.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065306 CHICHESTER,ROBERT 8.000 .150 7.850 .1000 7.750 08/01/2027
500065307 TOMA,JAY C 7.875 .150 7.725 .1000 7.625 08/01/2027
500065308 KOBA,LAWRENCE J 7.875 .250 7.625 .0500 7.575 07/01/2027
500065310 REYES,LEONARD L 7.625 .150 7.475 .1000 7.375 08/01/2027
500065319 BEIRIGER,IRENE A 7.125 .150 6.975 .1000 6.875 08/01/2027
500065321 KONONOV,ABIGAIL E 7.500 .150 7.350 .1000 7.250 08/01/2027
500065323 SUTTON,PETER A 7.250 .150 7.100 .1000 7.000 08/01/2027
500065329 ELLIS,CHRISTINA H & ABEL, 7.000 .250 6.750 .0500 6.700 03/01/2026
500065330 WALSH,JOHN T & ROBIN L 7.750 .250 7.500 .0500 7.450 04/01/2026
500065349 MILNES,R DANA 7.750 .150 7.600 .1000 7.500 08/01/2027
500065351 SNOW,SHELDON M 7.625 .150 7.475 .1000 7.375 08/01/2027
500065352 DAVIDOVITS,GIORA 7.625 .150 7.475 .1000 7.375 08/01/2027
500065353 BREMS,JOHN J 8.125 .150 7.975 .1000 7.875 08/01/2027
500065354 MODZELEWSKI,GERALD PETER 7.250 .150 7.100 .1000 7.000 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065306 CHICHESTER,ROBERT 092438361 $2,160.94 12 11/01/1997 360
500065307 TOMA,JAY C 092439201 $1,704.64 3 11/01/1997 360
500065308 KOBA,LAWRENCE J 092441216 $1,742.71 15 11/01/1997 360
500065310 REYES,LEONARD L 092443233 $1,930.15 2 11/01/1997 360
500065319 BEIRIGER,IRENE A 092440161 $2,102.00 11/01/1997 360
500065321 KONONOV,ABIGAIL E 092445375 $1,614.14 12 11/01/1997 360
500065323 SUTTON,PETER A 092446287 $3,410.88 11/01/1997 360
500065329 ELLIS,CHRISTINA H & ABEL, 032262 $1,514.90 2 11/01/1997 360
500065330 WALSH,JOHN T & ROBIN L 032441 $2,385.66 2 11/01/1997 360
500065349 MILNES,R DANA 092440615 $1,705.06 11/01/1997 360
500065351 SNOW,SHELDON M 092442537 $2,552.02 11/01/1997 360
500065352 DAVIDOVITS,GIORA 092443214 $3,255.85 11/01/1997 360
500065353 BREMS,JOHN J 092443633 $3,563.99 11/01/1997 360
500065354 MODZELEWSKI,GERALD PETER 092444794 $2,776.46 11/01/1997 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>
500065306 CHICHESTER,ROBERT .00 .00 .00 .000 .150 .250 $310,000.00 N
500065307 TOMA,JAY C .00 .00 .00 .000 .150 .250 $247,500.00 N
500065308 KOBA,LAWRENCE J .00 .00 .00 .000 .250 .300 $253,000.00 N
500065310 REYES,LEONARD L .00 .00 .00 .000 .150 .250 $303,000.00 N
500065319 BEIRIGER,IRENE A .00 .00 .00 .000 .150 .250 $390,028.00 N
500065321 KONONOV,ABIGAIL E .00 .00 .00 .000 .150 .250 $256,500.00 N
500065323 SUTTON,PETER A .00 .00 .00 .000 .150 .250 $790,000.00 N
500065329 ELLIS,CHRISTINA H & ABEL, .00 .00 .00 .000 .250 .300 $253,000.00 N
500065330 WALSH,JOHN T & ROBIN L .00 .00 .00 .000 .250 .300 $370,000.00 N
500065349 MILNES,R DANA .00 .00 .00 .000 .150 .250 $297,500.00 N
500065351 SNOW,SHELDON M .00 .00 .00 .000 .150 .250 $450,708.00 N
500065352 DAVIDOVITS,GIORA .00 .00 .00 .000 .150 .250 $575,000.00 N
500065353 BREMS,JOHN J .00 .00 .00 .000 .150 .250 $600,000.00 N
500065354 MODZELEWSKI,GERALD PETER .00 .00 .00 .000 .150 .250 $570,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065355 CARLSON,JEFFERY R 2418 55TH STREET SW EVERETT WA 98203 $296,382.77
500065357 HUCHINGSON,COLQUITT B 6921 MEADOW RUN LANE CHARLOTTE NC 28277 $310,483.36
500065358 BOBSON,STEVEN S 409 - 209TH AVENUE SE REDMOND WA 98053 $354,742.40
500065359 BORDEN,DELANIE S 15 JOAQUIN PATIO STINSON BEACH CA 94904 $369,211.49
500065367 KRETZ,WILLIAM J JR 36 MILBURN DRIVE BELLE MEAD NJ 08502 $264,133.33
500065368 JOHNTZ,SUSAN E 60 LODGES LANE TWP. OF LOWER M PA 19004 $237,687.64
500065369 GOSSELIN,DAVID F 1729 CLOCKTOWER DRIVE TWP. OF EAST GO PA 19380 $313,573.84
500065370 NATHANS,HOWARD B 148 THREE PONDS LANE MALVERN PA 19355 $264,204.42
500065373 BARCLAY,BRUCE 55 STONECLEAVE ROAD NORTH ANDOVER MA 01845 $273,102.83
500065375 GRAW,LEROY HARRY 1667 N. VALLEJO WAY UPLAND CA 91784 $331,773.45
500065376 CARINO,JAIME M 1713 WATERFORD LANDING DR ORANGE PARK FL 32073 $238,690.24
500065378 MONTALBANO,JOY H 95 SUMMER STREET MEDWAY MA 02053 $227,676.87
500065379 VAIDYA,HEMANT C 1771 MARIPOSA CIRCLE DAVIS CA 95616 $261,954.48
500065380 WEITZNER,HOWARD M 1119 HALESWORTH DRIVE POTOMAC MD 20854 $239,434.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065355 CARLSON,JEFFERY R 7.875 .150 7.725 .1000 7.625 08/01/2027
500065357 HUCHINGSON,COLQUITT B 7.375 .150 7.225 .1000 7.125 08/01/2027
500065358 BOBSON,STEVEN S 7.750 .150 7.600 .1000 7.500 08/01/2027
500065359 BORDEN,DELANIE S 7.750 .150 7.600 .1000 7.500 08/01/2027
500065367 KRETZ,WILLIAM J JR 7.750 .150 7.600 .1000 7.500 08/01/2027
500065368 JOHNTZ,SUSAN E 7.750 .150 7.600 .1000 7.500 08/01/2027
500065369 GOSSELIN,DAVID F 7.750 .150 7.600 .1000 7.500 08/01/2027
500065370 NATHANS,HOWARD B 7.500 .250 7.250 .0500 7.200 08/01/2027
500065373 BARCLAY,BRUCE 7.625 .150 7.475 .1000 7.375 09/01/2027
500065375 GRAW,LEROY HARRY 7.625 .150 7.475 .1000 7.375 08/01/2027
500065376 CARINO,JAIME M 7.750 .150 7.600 .1000 7.500 08/01/2027
500065378 MONTALBANO,JOY H 7.875 .150 7.725 .1000 7.625 08/01/2027
500065379 VAIDYA,HEMANT C 7.875 .150 7.725 .1000 7.625 08/01/2027
500065380 WEITZNER,HOWARD M 7.250 .150 7.100 .1000 7.000 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065355 CARLSON,JEFFERY R 092445916 $2,153.46 2 11/01/1997 360
500065357 HUCHINGSON,COLQUITT B 092446467 $2,149.38 11/01/1997 360
500065358 BOBSON,STEVEN S 092446642 $2,546.85 3 11/01/1997 360
500065359 BORDEN,DELANIE S 092446718 $2,650.73 11/01/1997 360
500065367 KRETZ,WILLIAM J JR 092435491 $1,898.49 12 11/01/1997 360
500065368 JOHNTZ,SUSAN E 092438358 $1,709.36 12 11/01/1997 360
500065369 GOSSELIN,DAVID F 092440337 $2,256.70 11/01/1997 360
500065370 NATHANS,HOWARD B 092440947 $1,852.92 11/01/1997 360
500065373 BARCLAY,BRUCE 092442413 $1,935.82 11/01/1997 360
500065375 GRAW,LEROY HARRY 092443356 $2,353.41 2 11/01/1997 360
500065376 CARINO,JAIME M 092443369 $1,713.66 11/01/1997 360
500065378 MONTALBANO,JOY H 092444195 $1,654.25 3 11/01/1997 360
500065379 VAIDYA,HEMANT C 092444741 $1,903.31 11/01/1997 360
500065380 WEITZNER,HOWARD M 092445866 $1,637.22 11/01/1997 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>
500065355 CARLSON,JEFFERY R .00 .00 .00 .000 .150 .250 $330,000.00 N
500065357 HUCHINGSON,COLQUITT B .00 .00 .00 .000 .150 .250 $389,000.00 N
500065358 BOBSON,STEVEN S .00 .00 .00 .000 .150 .250 $395,000.00 N
500065359 BORDEN,DELANIE S .00 .00 .00 .000 .150 .250 $950,000.00 N
500065367 KRETZ,WILLIAM J JR .00 .00 .00 .000 .150 .250 $305,560.00 N
500065368 JOHNTZ,SUSAN E .00 .00 .00 .000 .150 .250 $251,250.00 N
500065369 GOSSELIN,DAVID F .00 .00 .00 .000 .150 .250 $421,640.00 N
500065370 NATHANS,HOWARD B .00 .00 .00 .000 .250 .300 $495,000.00 N
500065373 BARCLAY,BRUCE .00 .00 .00 .000 .150 .250 $353,500.00 N
500065375 GRAW,LEROY HARRY .00 .00 .00 .000 .150 .250 $350,000.00 N
500065376 CARINO,JAIME M .00 .00 .00 .000 .150 .250 $299,000.00 N
500065378 MONTALBANO,JOY H .00 .00 .00 .000 .150 .250 $253,500.00 N
500065379 VAIDYA,HEMANT C .00 .00 .00 .000 .150 .250 $350,000.00 N
500065380 WEITZNER,HOWARD M .00 .00 .00 .000 .150 .250 $300,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065381 CALI,JOSEPH J 44 STRAWBERRY PATCH LANE CITY OF STAMFOR CT 06902 $257,450.19
500065382 MCLENDON,BRENT P 3012 FORESTWOOD DRIVE ARLINGTON TX 76006 $219,482.02
500065383 LITTRELL,STEVEN H 2820 NORTHBROOK DRIVE ATLANTA GA 30340 $244,664.20
500065384 HURLEY,MICHAEL K 7406 LAKEWOOD CIRCLE WICHITA KS 67205 $261,662.46
500065404 MUN,SEUNGHEE LEE 3 JUNIPER LANE FRAMINGHAM MA 01701 $351,728.69
500065405 MOULIN,DONALD J 78-863 VIA CARMEL LA QUINTA CA 92253 $491,230.06
500065408 MOSES,DAVID LAWRENCE 10172 SW WASHINGTON ST PORTLAND OR 97225 $221,515.58
500065416 GORDON,KEVIN K 134 WAVERLY LANE TOWNSHIP OF LOW PA 19438 $235,648.61
500065419 BERG,ROGER EUGENE 210 THIRD AVE S #3-C SEATTLE WA 98104 $287,592.15
500065420 STENBO,PAUL T 516 BELMONT PARKWAY SLEEPY HOLLOW IL 60118 $215,596.47
500065432 GABBAY,DAVID 20 DOMINICK COURT CEDAR GROVE TOW NJ 07009 $513,824.60
500065433 NARMA,VAINO 579 GREEN HILL RD. KINNELON NJ 07405 $329,167.34
500065436 JONES,PERRY D 6505 GREENRIDGE DRIVE INDIANAPOLIS IN 46278 $319,154.17
500065437 HAWKINS,LADY CHACHI 813 COOLIDGE AVENUE PALATINE IL 60076 $272,362.40
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065381 CALI,JOSEPH J 7.750 .150 7.600 .1000 7.500 08/01/2027
500065382 MCLENDON,BRENT P 7.250 .150 7.100 .1000 7.000 08/01/2027
500065383 LITTRELL,STEVEN H 7.625 .150 7.475 .1000 7.375 08/01/2027
500065384 HURLEY,MICHAEL K 7.500 .150 7.350 .1000 7.250 08/01/2027
500065404 MUN,SEUNGHEE LEE 8.125 .150 7.975 .1000 7.875 08/01/2027
500065405 MOULIN,DONALD J 7.250 .150 7.100 .1000 7.000 09/01/2027
500065408 MOSES,DAVID LAWRENCE 7.750 .150 7.600 .1000 7.500 09/01/2027
500065416 GORDON,KEVIN K 7.500 .150 7.350 .1000 7.250 09/01/2027
500065419 BERG,ROGER EUGENE 7.750 .150 7.600 .1000 7.500 09/01/2027
500065420 STENBO,PAUL T 7.625 .150 7.475 .1000 7.375 09/01/2027
500065432 GABBAY,DAVID 8.125 .150 7.975 .1000 7.875 09/01/2027
500065433 NARMA,VAINO 8.125 .150 7.975 .1000 7.875 09/01/2027
500065436 JONES,PERRY D 8.125 .250 7.875 .0500 7.825 07/01/2027
500065437 HAWKINS,LADY CHACHI 7.125 .150 6.975 .1000 6.875 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065381 CALI,JOSEPH J 092447078 $1,848.34 11/01/1997 360
500065382 MCLENDON,BRENT P 092447887 $1,500.79 11/01/1997 360
500065383 LITTRELL,STEVEN H 092448346 $1,735.51 11/01/1997 360
500065384 HURLEY,MICHAEL K 092448396 $1,833.69 11/01/1997 360
500065404 MUN,SEUNGHEE LEE 092441910 $2,616.75 11/01/1997 360
500065405 MOULIN,DONALD J 092443332 $3,356.31 11/01/1997 360
500065408 MOSES,DAVID LAWRENCE 092448355 $1,590.44 11/01/1997 360
500065416 GORDON,KEVIN K 092428888 $1,650.15 11/01/1997 360
500065419 BERG,ROGER EUGENE 092446148 $2,063.27 2 11/01/1997 360
500065420 STENBO,PAUL T 092446596 $1,528.20 3 11/01/1997 360
500065432 GABBAY,DAVID 092435095 $3,820.15 11/01/1997 360
500065433 NARMA,VAINO 092435700 $2,447.27 11/01/1997 360
500065436 JONES,PERRY D 092441551 $2,375.99 11/01/1997 360
500065437 HAWKINS,LADY CHACHI 092443018 $1,837.90 12 11/01/1997 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>
500065381 CALI,JOSEPH J .00 .00 .00 .000 .150 .250 $333,000.00 N
500065382 MCLENDON,BRENT P .00 .00 .00 .000 .150 .250 $289,000.00 N
500065383 LITTRELL,STEVEN H .00 .00 .00 .000 .150 .250 $306,500.00 N
500065384 HURLEY,MICHAEL K .00 .00 .00 .000 .150 .250 $362,250.00 N
500065404 MUN,SEUNGHEE LEE .00 .00 .00 .000 .150 .250 $469,900.00 N
500065405 MOULIN,DONALD J .00 .00 .00 .000 .150 .250 $615,000.00 N
500065408 MOSES,DAVID LAWRENCE .00 .00 .00 .000 .150 .250 $277,500.00 N
500065416 GORDON,KEVIN K .00 .00 .00 .000 .150 .250 $295,000.00 N
500065419 BERG,ROGER EUGENE .00 .00 .00 .000 .150 .250 $320,000.00 N
500065420 STENBO,PAUL T .00 .00 .00 .000 .150 .250 $239,900.00 N
500065432 GABBAY,DAVID .00 .00 .00 .000 .150 .250 $735,000.00 N
500065433 NARMA,VAINO .00 .00 .00 .000 .150 .250 $412,000.00 N
500065436 JONES,PERRY D .00 .00 .00 .000 .250 .300 $427,000.00 N
500065437 HAWKINS,LADY CHACHI .00 .00 .00 .000 .150 .250 $303,145.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065438 GILBREATH,RON D 2340 W. CANTINA WAY PALM SPRINGS CA 92264 $1,258,170.31
500065439 RYAN,LANCE P 383 CATALINA SHORE DRIVE COSTA MESA CA 92627 $285,245.19
500065441 CRAMPTON,KEVIN P 110 LEOLA WAY ANAHEIM HILLS CA 92807 $299,542.04
500065442 WHITAKER,HARRY A & KAHN H 5 HIDDEN CREEK DRIVE MARQUETTE MI 49855 $233,568.76
500065448 SHEEHAN,JOHN D 23 S. OAK STREET HINSDALE IL 60521 $439,392.39
500065449 SHENK,JOHN R 280 WOODSIDE DRIVE WOODSIDE CA 94062 $663,035.78
500065450 CASELLA,JOHN F 24 CLEARVIEW ROAD TOWNSHIP OF REA NJ 08889 $420,223.39
500065451 MILLER,LARRY A 3600 NORTH LAKE BOULEVARD TAHOE CITY CA 96145 $379,501.17
500065452 NEARY,DANIEL P 11 PLOVER LANE HUNTINGTON NY 11743 $607,160.41
500065453 MOWER,STEVEN A 36 LOUNSBURY LANE RIDGEFIELD CT 06877 $397,588.13
500065454 HOPKINS,JOHN D 25411 COACH SPRINGS LANE LAGUNA HILLS CA 92653 $566,217.04
500065455 RLEBOEUF,JOHN 10 SALEM RIDGE DRIVE HUNTINGTON NY 11743 $317,549.67
500065456 DAVIS,JOHN MIHRAN 360 SYCAMORE AVENUE BOROUGH OF SHRE NJ 07701 $299,530.53
500065470 WALKER,MICHAEL A 119 POE ROAD TOWNSHIP OF PRI NJ 08540 $359,527.43
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065438 GILBREATH,RON D 7.625 .150 7.475 .1000 7.375 09/01/2027
500065439 RYAN,LANCE P 7.625 .150 7.475 .1000 7.375 09/01/2027
500065441 CRAMPTON,KEVIN P 7.375 .150 7.225 .1000 7.125 09/01/2027
500065442 WHITAKER,HARRY A & KAHN H 7.750 .250 7.500 .0500 7.450 09/01/2027
500065448 SHEEHAN,JOHN D 7.875 .150 7.725 .1000 7.625 09/01/2027
500065449 SHENK,JOHN R 7.625 .150 7.475 .1000 7.375 09/01/2027
500065450 CASELLA,JOHN F 7.500 .150 7.350 .1000 7.250 09/01/2027
500065451 MILLER,LARRY A 8.125 .150 7.975 .1000 7.875 09/01/2027
500065452 NEARY,DANIEL P 7.875 .150 7.725 .1000 7.625 09/01/2027
500065453 MOWER,STEVEN A 7.500 .150 7.350 .1000 7.250 09/01/2027
500065454 HOPKINS,JOHN D 7.875 .150 7.725 .1000 7.625 09/01/2027
500065455 RLEBOEUF,JOHN 7.750 .150 7.600 .1000 7.500 09/01/2027
500065456 DAVIS,JOHN MIHRAN 7.250 .150 7.100 .1000 7.000 09/01/2027
500065470 WALKER,MICHAEL A 8.125 .150 7.975 .1000 7.875 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065438 GILBREATH,RON D 092445304 $8,918.20 11/01/1997 360
500065439 RYAN,LANCE P 092446730 $2,021.88 12 11/01/1997 360
500065441 CRAMPTON,KEVIN P 092451339 $2,072.03 11/01/1997 360
500065442 WHITAKER,HARRY A & KAHN H 133521 $1,675.69 12 11/01/1997 360
500065448 SHEEHAN,JOHN D 092437389 $3,190.31 11/01/1997 360
500065449 SHENK,JOHN R 092437854 $4,699.75 11/01/1997 360
500065450 CASELLA,JOHN F 092443557 $2,942.64 12 11/01/1997 360
500065451 MILLER,LARRY A 092444439 $2,821.49 11/01/1997 360
500065452 NEARY,DANIEL P 092445149 $4,408.42 11/01/1997 360
500065453 MOWER,STEVEN A 092446372 $2,784.14 11/01/1997 360
500065454 HOPKINS,JOHN D 092447474 $4,111.14 11/01/1997 360
500065455 RLEBOEUF,JOHN 092449117 $2,278.19 11/01/1997 360
500065456 DAVIS,JOHN MIHRAN 092449318 $2,046.53 11/01/1997 360
500065470 WALKER,MICHAEL A 092435525 $2,672.99 12 11/01/1997 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>
500065438 GILBREATH,RON D .00 .00 .00 .000 .150 .250 $2,000,000.00 N
500065439 RYAN,LANCE P .00 .00 .00 .000 .150 .250 $317,400.00 N
500065441 CRAMPTON,KEVIN P .00 .00 .00 .000 .150 .250 $610,000.00 N
500065442 WHITAKER,HARRY A & KAHN H .00 .00 .00 .000 .250 .300 $259,900.00 N
500065448 SHEEHAN,JOHN D .00 .00 .00 .000 .150 .250 $587,500.00 N
500065449 SHENK,JOHN R .00 .00 .00 .000 .150 .250 $830,000.00 N
500065450 CASELLA,JOHN F .00 .00 .00 .000 .150 .250 $478,000.00 N
500065451 MILLER,LARRY A .00 .00 .00 .000 .150 .250 $756,000.00 N
500065452 NEARY,DANIEL P .00 .00 .00 .000 .150 .250 $760,000.00 N
500065453 MOWER,STEVEN A .00 .00 .00 .000 .150 .250 $580,000.00 N
500065454 HOPKINS,JOHN D .00 .00 .00 .000 .150 .250 $730,000.00 N
500065455 RLEBOEUF,JOHN .00 .00 .00 .000 .150 .250 $424,000.00 N
500065456 DAVIS,JOHN MIHRAN .00 .00 .00 .000 .150 .250 $400,000.00 N
500065470 WALKER,MICHAEL A .00 .00 .00 .000 .150 .250 $400,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065473 BARANOWSKI,JERZY 114 STERLING COURT MUTTONTOWN NY 11791 $549,095.71
500065475 KESSELMAN,WILLIAM 14 KINGSBROOK COURT RANDOLPH TOWNSH NJ 07869 $599,171.45
500065476 DOVALA,STEPHEN GEORGE 1044 RIVERVIEW FARMS PLAC VILLA HILLS KY 41017 $259,192.66
500065477 KENNEDY,TIMOTHY J 1549 S W 6TH AVENUE BOCA RATON FL 33486 $222,442.41
500065478 BARONE,ANTONINO 12 MELANIE MANOR EAST BRUNSWICK NJ 08816 $231,055.47
500065479 OGLE,JENNIFER C 10115 LOMA DRIVE KNOXVILLE TN 37922 $278,440.01
500065480 FIOLA,FREDERIC J 1021 STEEPLECHASE DR. BRENTWOOD TN 37027 $220,187.74
500065481 GOODSON,TIMOTHY H 3467 MILL BRIDGE DRIVE MARIETTA GA 30062 $241,630.59
500065482 DAUGHERTY,THOMAS H 3035 GLENFARM COURT CINCINNATI OH 45236 $337,544.91
500065483 TARATKO,MARK W 367 CEDAR LANE NEW CANAAN CT 06840 $419,448.66
500065484 MARKOS,ANWAR R 5831 MIDWAY DRIVE HUNTINGTON BEAC CA 92648 $305,544.38
500065485 YOUNG,TIMOTHY M 1412 N. LAUREL AVENUE UPLAND CA 91786 $305,920.51
500065486 OBRIEN,MICHAEL W 31 ALFORD CIRCLE CONCORD MA 01742 $748,826.33
500065498 FEINBERG,TODD 152 DOWNEY TENAFLY NJ 07670 $287,302.72
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065473 BARANOWSKI,JERZY 7.000 .150 6.850 .1000 6.750 09/01/2027
500065475 KESSELMAN,WILLIAM 7.875 .150 7.725 .1000 7.625 09/01/2027
500065476 DOVALA,STEPHEN GEORGE 8.250 .250 8.000 .0500 7.950 08/01/2027
500065477 KENNEDY,TIMOTHY J 7.875 .150 7.725 .1000 7.625 09/01/2027
500065478 BARONE,ANTONINO 7.500 .150 7.350 .1000 7.250 09/01/2027
500065479 OGLE,JENNIFER C 7.875 .250 7.625 .0500 7.575 08/01/2027
500065480 FIOLA,FREDERIC J 7.750 .150 7.600 .1000 7.500 09/01/2027
500065481 GOODSON,TIMOTHY H 7.375 .150 7.225 .1000 7.125 09/01/2027
500065482 DAUGHERTY,THOMAS H 8.000 .250 7.750 .0500 7.700 09/01/2027
500065483 TARATKO,MARK W 8.125 .150 7.975 .1000 7.875 09/01/2027
500065484 MARKOS,ANWAR R 7.500 .150 7.350 .1000 7.250 09/01/2027
500065485 YOUNG,TIMOTHY M 7.250 .150 7.100 .1000 7.000 09/01/2027
500065486 OBRIEN,MICHAEL W 7.250 .150 7.100 .1000 7.000 09/01/2027
500065498 FEINBERG,TODD 7.875 .150 7.725 .1000 7.625 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065473 BARANOWSKI,JERZY 092439830 $3,659.16 11/01/1997 360
500065475 KESSELMAN,WILLIAM 092442304 $4,350.42 11/01/1997 360
500065476 DOVALA,STEPHEN GEORGE 092442430 $1,953.29 11/01/1997 360
500065477 KENNEDY,TIMOTHY J 092444037 $1,615.09 33 11/01/1997 360
500065478 BARONE,ANTONINO 092444689 $1,617.98 11/01/1997 360
500065479 OGLE,JENNIFER C 092446508 $2,031.64 12 11/01/1997 360
500065480 FIOLA,FREDERIC J 092447594 $1,579.69 11/01/1997 360
500065481 GOODSON,TIMOTHY H 092447914 $1,671.43 11/01/1997 360
500065482 DAUGHERTY,THOMAS H 092447983 $2,480.12 11/01/1997 360
500065483 TARATKO,MARK W 092448263 $3,118.49 11/01/1997 360
500065484 MARKOS,ANWAR R 092449902 $2,139.60 11/01/1997 360
500065485 YOUNG,TIMOTHY M 092451542 $2,090.19 11/01/1997 360
500065486 OBRIEN,MICHAEL W 092451547 $5,116.32 11/01/1997 360
500065498 FEINBERG,TODD 092442954 $2,086.02 11/01/1997 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>
500065473 BARANOWSKI,JERZY .00 .00 .00 .000 .150 .250 $687,500.00 N
500065475 KESSELMAN,WILLIAM .00 .00 .00 .000 .150 .250 $988,533.96 N
500065476 DOVALA,STEPHEN GEORGE .00 .00 .00 .000 .250 .300 $325,000.00 N
500065477 KENNEDY,TIMOTHY J .00 .00 .00 .000 .150 .250 $247,500.00 N
500065478 BARONE,ANTONINO .00 .00 .00 .000 .150 .250 $433,000.00 N
500065479 OGLE,JENNIFER C .00 .00 .00 .000 .250 .300 $295,000.00 N
500065480 FIOLA,FREDERIC J .00 .00 .00 .000 .150 .250 $294,000.00 N
500065481 GOODSON,TIMOTHY H .00 .00 .00 .000 .150 .250 $335,000.00 N
500065482 DAUGHERTY,THOMAS H .00 .00 .00 .000 .250 .300 $430,000.00 N
500065483 TARATKO,MARK W .00 .00 .00 .000 .150 .250 $603,000.00 N
500065484 MARKOS,ANWAR R .00 .00 .00 .000 .150 .250 $382,500.00 N
500065485 YOUNG,TIMOTHY M .00 .00 .00 .000 .150 .250 $383,000.00 N
500065486 OBRIEN,MICHAEL W .00 .00 .00 .000 .150 .250 $1,050,000.00 N
500065498 FEINBERG,TODD .00 .00 .00 .000 .150 .250 $470,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065499 CABALUNA,FRANCIS CORPUZ 92 7037 ELELE STREET EWA BEACH HI 96707 $305,577.45
500065500 SILVER,GEOFFREY M 6401 BRIAR WILLOWBROOK IL 60521 $263,635.45
500065501 LARSON,MARK J 569 MAPLE AVE LAKE BLUFF IL 60044 $554,214.05
500065502 CARROLL,STEVEN E 2002 PASEO LARO SAN CLEMENTE CA 92672 $230,864.26
500065503 DUNWIDDIE,CHRISTOPHER T 3779 TREWITHEN LANE CARMEL IN 46032 $218,480.70
500065504 HO,KOK KEONG 19843 BAYWOOD DRIVE CUPERTINO CA 95014 $379,390.44
500065514 HOFER,STEVEN A 389 BRYCE DRIVE MORGAN HILL CA 95037 $311,036.21
500065515 GAZILLO,PAUL W 5N248 FOXMOOR DRIVE ST. CHARLES IL 60175 $299,376.55
500065516 DEMATTIA,JOHN S 41 MARVIN RIDGE RD WILTON CT 06897 $234,691.52
500065517 SALTZMAN,STEVEN J 10 RIGGS AVENUE SEVERNA PARK MD 21146 $236,864.99
500065518 HOWELL,RONALD C 36917 BOUQUET CANYON ROAD SAUGUS CA 91350 $444,815.04
500065519 MORRONE,ALFONSO 4 VANDERVEER LANE MILLSTONE TOWNS NJ 07726 $224,545.05
500065520 MORRISON,CHARLES P 206 ABBEY BROOK LANE MCMURRAY PA 15317 $299,564.36
500065521 HELFAER,MARK A 453 CLOTHIER ROAD TWP. OF LOWER M PA 19096 $335,499.72
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065499 CABALUNA,FRANCIS CORPUZ 7.875 .150 7.725 .1000 7.625 09/01/2027
500065500 SILVER,GEOFFREY M 7.875 .150 7.725 .1000 7.625 09/01/2027
500065501 LARSON,MARK J 7.750 .150 7.600 .1000 7.500 09/01/2027
500065502 CARROLL,STEVEN E 7.625 .150 7.475 .1000 7.375 09/01/2027
500065503 DUNWIDDIE,CHRISTOPHER T 7.625 .150 7.475 .1000 7.375 09/01/2027
500065504 HO,KOK KEONG 7.125 .150 6.975 .1000 6.875 09/01/2027
500065514 HOFER,STEVEN A 7.500 .150 7.350 .1000 7.250 09/01/2027
500065515 GAZILLO,PAUL W 7.875 .250 7.625 .0500 7.575 08/01/2027
500065516 DEMATTIA,JOHN S 8.125 .150 7.975 .1000 7.875 09/01/2027
500065517 SALTZMAN,STEVEN J 7.500 .150 7.350 .1000 7.250 09/01/2027
500065518 HOWELL,RONALD C 8.125 .250 7.875 .0500 7.825 08/01/2027
500065519 MORRONE,ALFONSO 8.000 .150 7.850 .1000 7.750 09/01/2027
500065520 MORRISON,CHARLES P 7.625 .150 7.475 .1000 7.375 09/01/2027
500065521 HELFAER,MARK A 7.500 .150 7.350 .1000 7.250 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065499 CABALUNA,FRANCIS CORPUZ 092443327 $2,218.71 11/01/1997 360
500065500 SILVER,GEOFFREY M 092448502 $1,914.18 11/01/1997 360
500065501 LARSON,MARK J 092448867 $3,976.09 11/01/1997 360
500065502 CARROLL,STEVEN E 092448873 $1,636.42 11/01/1997 360
500065503 DUNWIDDIE,CHRISTOPHER T 092449660 $1,550.07 11/01/1997 360
500065504 HO,KOK KEONG 092450299 $2,560.13 11/01/1997 360
500065514 HOFER,STEVEN A 092433255 $2,178.05 11/01/1997 360
500065515 GAZILLO,PAUL W 092437820 $2,175.21 11/01/1997 360
500065516 DEMATTIA,JOHN S 092442571 $1,744.87 11/01/1997 360
500065517 SALTZMAN,STEVEN J 092444548 $1,660.63 3 11/01/1997 360
500065518 HOWELL,RONALD C 092444576 $3,313.02 11/01/1997 360
500065519 MORRONE,ALFONSO 092444690 $1,650.97 11/01/1997 360
500065520 MORRISON,CHARLES P 092444732 $2,123.38 11/01/1997 360
500065521 HELFAER,MARK A 092445263 $2,349.36 11/01/1997 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>
500065499 CABALUNA,FRANCIS CORPUZ .00 .00 .00 .000 .150 .250 $385,000.00 N
500065500 SILVER,GEOFFREY M .00 .00 .00 .000 .150 .250 $330,000.00 N
500065501 LARSON,MARK J .00 .00 .00 .000 .150 .250 $740,000.00 N
500065502 CARROLL,STEVEN E .00 .00 .00 .000 .150 .250 $289,000.00 N
500065503 DUNWIDDIE,CHRISTOPHER T .00 .00 .00 .000 .150 .250 $275,000.00 N
500065504 HO,KOK KEONG .00 .00 .00 .000 .150 .250 $525,000.00 N
500065514 HOFER,STEVEN A .00 .00 .00 .000 .150 .250 $389,434.00 N
500065515 GAZILLO,PAUL W .00 .00 .00 .000 .250 .300 $405,000.00 N
500065516 DEMATTIA,JOHN S .00 .00 .00 .000 .150 .250 $499,000.00 N
500065517 SALTZMAN,STEVEN J .00 .00 .00 .000 .150 .250 $250,000.00 N
500065518 HOWELL,RONALD C .00 .00 .00 .000 .250 .300 $605,000.00 N
500065519 MORRONE,ALFONSO .00 .00 .00 .000 .150 .250 $300,000.00 N
500065520 MORRISON,CHARLES P .00 .00 .00 .000 .150 .250 $450,000.00 N
500065521 HELFAER,MARK A .00 .00 .00 .000 .150 .250 $420,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065522 RUDOLPH,MARK N 131 WALFORD DRIVE MORAGA CA 94556 $317,949.09
500065524 SAVOCA,ANN C 4557 ASH DRIVE NAZARETH TOWNSH PA 18064 $257,196.87
500065525 SWEET,ANDREW E 145 ELISEO DRIVE GREENBRAE CA 94904 $470,498.41
500065526 GOLDSTEIN,JONATHAN A 9 GAULT PARK DRIVE TOWN OF WESTPOR CT 06880 $312,556.75
500065527 HOGAN,MATTHEW 21 PLEASANT AVENUE TOWN OF GREENBU NY 10706 $309,571.91
500065528 SIMON,JAMES M 3361 ALGINET DRIVE ENCINO CA 91436 $399,419.14
500065529 MIGDOL,DEBBI S 4600 NW SILVERLEAF DR. BEAVERTON OR 97229 $279,094.13
500065532 GORE,DENNIS B 2044 COLDWATER CANYON DRI BEVERLY HILLS CA 90210 $384,468.35
500065533 NORDLICHT,JONATHAN 44 SAN BENITO WAY SAN FRANCISCO CA 94127 $599,171.45
500065534 KESSELL,DAVID L 538 MIDVALE WAY MILL VALLEY CA 94941 $711,462.27
500065535 BROWN,LESLIE W 3231 GIANT FOREST LOOP CHINO HILLS CA 91709 $349,478.88
500065546 GREER,BRIAN 879 TEQUESTA DRIVE FRANKLIN LAKES NJ 07417 $329,502.59
500065547 TONE,JOSEPH A 22 SPRINGHILL ROAD RANDOLPH TOWNSH NJ 07869 $262,608.42
500065548 TORRES,LOUIE A 10 REDWOOD STREET BERGENFIELD BOR NJ 07621 $222,676.17
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065522 RUDOLPH,MARK N 7.750 .150 7.600 .1000 7.500 09/01/2027
500065524 SAVOCA,ANN C 7.250 .150 7.100 .1000 7.000 09/01/2027
500065525 SWEET,ANDREW E 7.500 .150 7.350 .1000 7.250 09/01/2027
500065526 GOLDSTEIN,JONATHAN A 7.750 .150 7.600 .1000 7.500 09/01/2027
500065527 HOGAN,MATTHEW 7.875 .150 7.725 .1000 7.625 09/01/2027
500065528 SIMON,JAMES M 7.625 .150 7.475 .1000 7.375 09/01/2027
500065529 MIGDOL,DEBBI S 7.625 .150 7.475 .1000 7.375 09/01/2027
500065532 GORE,DENNIS B 7.875 .150 7.725 .1000 7.625 09/01/2027
500065533 NORDLICHT,JONATHAN 7.875 .150 7.725 .1000 7.625 09/01/2027
500065534 KESSELL,DAVID L 7.375 .150 7.225 .1000 7.125 09/01/2027
500065535 BROWN,LESLIE W 7.500 .150 7.350 .1000 7.250 09/01/2027
500065546 GREER,BRIAN 8.000 .150 7.850 .1000 7.750 09/01/2027
500065547 TONE,JOSEPH A 7.500 .150 7.350 .1000 7.250 09/01/2027
500065548 TORRES,LOUIE A 7.625 .150 7.475 .1000 7.375 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065522 RUDOLPH,MARK N 092445632 $2,281.06 11/01/1997 360
500065524 SAVOCA,ANN C 092448143 $1,757.29 11/01/1997 360
500065525 SWEET,ANDREW E 092448566 $3,294.70 11/01/1997 360
500065526 GOLDSTEIN,JONATHAN A 092448677 $2,242.37 11/01/1997 360
500065527 HOGAN,MATTHEW 092448889 $2,247.72 11/01/1997 360
500065528 SIMON,JAMES M 092448940 $2,831.18 11/01/1997 360
500065529 MIGDOL,DEBBI S 092449345 $1,978.28 11/01/1997 360
500065532 GORE,DENNIS B 092451093 $2,791.52 11/01/1997 360
500065533 NORDLICHT,JONATHAN 092451503 $4,350.42 11/01/1997 360
500065534 KESSELL,DAVID L 092452197 $4,921.41 11/01/1997 360
500065535 BROWN,LESLIE W 092452537 $2,447.25 11/01/1997 360
500065546 GREER,BRIAN 092413498 $2,421.42 11/01/1997 360
500065547 TONE,JOSEPH A 092428088 $1,838.93 11/01/1997 360
500065548 TORRES,LOUIE A 092437320 $1,578.38 12 11/01/1997 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>
500065522 RUDOLPH,MARK N .00 .00 .00 .000 .150 .250 $398,000.00 N
500065524 SAVOCA,ANN C .00 .00 .00 .000 .150 .250 $322,000.00 N
500065525 SWEET,ANDREW E .00 .00 .00 .000 .150 .250 $589,000.00 N
500065526 GOLDSTEIN,JONATHAN A 5.00 .00 12.00 2.750 2.600 2.500 $500,000.00 N
500065527 HOGAN,MATTHEW .00 .00 .00 .000 .150 .250 $517,000.00 N
500065528 SIMON,JAMES M .00 .00 .00 .000 .150 .250 $570,000.00 N
500065529 MIGDOL,DEBBI S .00 .00 .00 .000 .150 .250 $429,950.00 N
500065532 GORE,DENNIS B .00 .00 .00 .000 .150 .250 $485,000.00 N
500065533 NORDLICHT,JONATHAN .00 .00 .00 .000 .150 .250 $890,000.00 N
500065534 KESSELL,DAVID L .00 .00 .00 .000 .150 .250 $890,700.00 N
500065535 BROWN,LESLIE W .00 .00 .00 .000 .150 .250 $550,000.00 N
500065546 GREER,BRIAN .00 .00 .00 .000 .150 .250 $440,000.00 N
500065547 TONE,JOSEPH A .00 .00 .00 .000 .150 .250 $333,000.00 N
500065548 TORRES,LOUIE A .00 .00 .00 .000 .150 .250 $235,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065549 STACK,STEPHEN R 750 PINE CHASE COURT WELLINGTON FL 33414 $360,788.35
500065550 JONES,SHANE M 3063 WINDMILL CANYON DRIV CLAYTON CA 94517 $223,466.91
500065551 PENNEY,MICHAEL H 355 RAMSEY ROAD YARDLEY PA 19067 $219,463.54
500065552 WHEELER,BRAD 275 RIVER STREET BOULDER CREEK CA 95006 $306,764.96
500065554 LANGREHR,DAVID A 444 CANTERBURY COURT UPLAND CA 91784 $454,122.04
500065555 ROBINSON,KIMBERLEY A 324 PROSPECT STREET NEWPORT BEACH CA 92663 $337,870.85
500065556 HAMILTON,ROBERT J 2205 PARADISE DRIVE TIBURON CA 94920 $599,084.09
500065557 SHELLEY,GORDON J 2708 RIDGE ROAD DRIVE ALEXANDRIA VA 22302 $232,744.17
500065558 GRILLO,JOHN 6 SHORE DRIVE OLD FIELD NY 11733 $231,636.94
500065559 DEAN,ALEXANDER L JR 2841 FILBERT STREET SAN FRANCISCO CA 94123 $1,098,481.01
500065560 KLINE,WILLIAM H 7910 N. UPPER RIDGE DRIVE PARKLAND FL 33067 $417,888.42
500065561 HUGHES,SCOTT E 4302 ESTES ROAD NASHVILLE TN 37205 $228,492.74
500065562 SENKO,GREGORY S 20188 NORTHWEST SQUARE CUPERTINO CA 95014 $233,676.88
500065563 CONE,LAWRENCE L 502 BARTON LANE TOWNSHIP OF TRE PA 19087 $220,185.37
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065549 STACK,STEPHEN R 7.750 .150 7.600 .1000 7.500 09/01/2027
500065550 JONES,SHANE M 7.500 .250 7.250 .0500 7.200 07/01/2027
500065551 PENNEY,MICHAEL H 7.375 .150 7.225 .1000 7.125 09/01/2027
500065552 WHEELER,BRAD 7.750 .150 7.600 .1000 7.500 09/01/2027
500065554 LANGREHR,DAVID A 7.875 .150 7.725 .1000 7.625 09/01/2027
500065555 ROBINSON,KIMBERLEY A 7.750 .150 7.600 .1000 7.500 09/01/2027
500065556 HAMILTON,ROBERT J 7.375 .150 7.225 .1000 7.125 09/01/2027
500065557 SHELLEY,GORDON J 7.375 .150 7.225 .1000 7.125 09/01/2027
500065558 GRILLO,JOHN 7.250 .150 7.100 .1000 7.000 09/01/2027
500065559 DEAN,ALEXANDER L JR 7.875 .150 7.725 .1000 7.625 09/01/2027
500065560 KLINE,WILLIAM H 7.750 .150 7.600 .1000 7.500 09/01/2027
500065561 HUGHES,SCOTT E 7.875 .150 7.725 .1000 7.625 09/01/2027
500065562 SENKO,GREGORY S 7.875 .150 7.725 .1000 7.625 09/01/2027
500065563 CONE,LAWRENCE L 8.125 .150 7.975 .1000 7.875 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065549 STACK,STEPHEN R 092438037 $2,588.40 12 11/01/1997 360
500065550 JONES,SHANE M 092442612 $1,573.24 11/01/1997 360
500065551 PENNEY,MICHAEL H 092442914 $1,519.49 12 11/01/1997 360
500065552 WHEELER,BRAD 092443086 $2,200.82 11/01/1997 360
500065554 LANGREHR,DAVID A 092447074 $3,297.25 12 11/01/1997 360
500065555 ROBINSON,KIMBERLEY A 092447785 $2,423.98 3 11/01/1997 360
500065556 HAMILTON,ROBERT J 092448321 $4,144.05 11/01/1997 360
500065557 SHELLEY,GORDON J 092448633 $1,609.96 12 11/01/1997 360
500065558 GRILLO,JOHN 092448648 $1,582.65 11/01/1997 360
500065559 DEAN,ALEXANDER L JR 092449877 $7,975.76 11/01/1997 360
500065560 KLINE,WILLIAM H 092450185 $3,044.75 3 11/01/1997 360
500065561 HUGHES,SCOTT E 092451136 $1,660.41 11/01/1997 360
500065562 SENKO,GREGORY S 092451772 $1,696.66 3 11/01/1997 360
500065563 CONE,LAWRENCE L 092451828 $1,637.21 2 11/01/1997 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>
500065549 STACK,STEPHEN R .00 .00 .00 .000 .150 .250 $401,629.00 N
500065550 JONES,SHANE M .00 .00 .00 .000 .250 .300 $344,145.00 N
500065551 PENNEY,MICHAEL H .00 .00 .00 .000 .150 .250 $247,000.00 N
500065552 WHEELER,BRAD .00 .00 .00 .000 .150 .250 $384,000.00 N
500065554 LANGREHR,DAVID A .00 .00 .00 .000 .150 .250 $535,000.00 N
500065555 ROBINSON,KIMBERLEY A .00 .00 .00 .000 .150 .250 $376,000.00 N
500065556 HAMILTON,ROBERT J 5.00 .00 12.25 2.750 2.600 2.500 $1,015,000.00 N
500065557 SHELLEY,GORDON J .00 .00 .00 .000 .150 .250 $259,000.00 N
500065558 GRILLO,JOHN .00 .00 .00 .000 .150 .250 $290,000.00 N
500065559 DEAN,ALEXANDER L JR .00 .00 .00 .000 .150 .250 $1,460,000.00 N
500065560 KLINE,WILLIAM H .00 .00 .00 .000 .150 .250 $500,000.00 N
500065561 HUGHES,SCOTT E .00 .00 .00 .000 .150 .250 $438,000.00 N
500065562 SENKO,GREGORY S .00 .00 .00 .000 .150 .250 $260,000.00 N
500065563 CONE,LAWRENCE L .00 .00 .00 .000 .150 .250 $245,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065564 SWANGEL,GORDON 15959 RANCH HOUSE ROAD CHINO HILLS CA 91709 $285,574.17
500065566 BAUTISTA,GENE JAVIER 12302 DOWNEY AVENUE DOWNEY CA 90242 $376,264.96
500065567 CANTWELL,DONALD D 289 RIVER ROAD SMITHTOWN NY 11796 $319,779.78
500065568 STEFFEN,JOHN F III 48 CORONET AVENUE MILL VALLEY CA 94941 $758,839.85
500065569 PRATER,BYRON C 2018 ISLAND OAK STREET HOUSTON TX 77062 $228,584.44
500065570 SHARE,ROBERT E 460 WASHINGTON AVENUE GLENCOE IL 60022 $842,804.78
500065578 SWAD,STEPHEN M 25 A CIRCLE ROAD SCARSDALE NY 10583 $591,571.53
500065579 FIRSHEIN,DANIEL 980 LINCOLN PLACE TEANECK TOWNSHI NJ 07666 $339,747.67
500065580 SOHI,MOHSEN M 2708 VIA PACHECO PALOS VERDES ES CA 90274 $482,803.93
500065582 YONKER,WILLIAM 1 BRECKENRIDGE DR. VINCETON NJ 08088 $293,364.38
500065583 WOLFF,MARK A 14804 TIMBER LAKES DRIVE WICHITA KS 67230 $275,784.69
500065584 CHOULS,RAZA 3730 BELLE VISTA DRIVE ST. PETERSBURG FL 33706 $275,618.87
500065586 REDDY,VODUR C 13255 CANDLEBERRY LANE VICTORVILLE CA 92392 $285,555.13
500065587 DEVITO,FRANK A 17 OCEAN VISTA #20 NEWPORT BEACH CA 92260 $214,338.29
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065564 SWANGEL,GORDON 7.500 .150 7.350 .1000 7.250 09/01/2027
500065566 BAUTISTA,GENE JAVIER 8.750 .150 8.600 .1000 8.500 09/01/2027
500065567 CANTWELL,DONALD D 7.875 .150 7.725 .1000 7.625 10/01/2027
500065568 STEFFEN,JOHN F III 7.375 .150 7.225 .1000 7.125 09/01/2027
500065569 PRATER,BYRON C 7.625 .150 7.475 .1000 7.375 10/01/2027
500065570 SHARE,ROBERT E 7.750 .150 7.600 .1000 7.500 09/01/2027
500065578 SWAD,STEPHEN M 7.625 .150 7.475 .1000 7.375 10/01/2027
500065579 FIRSHEIN,DANIEL 7.500 .150 7.350 .1000 7.250 10/01/2027
500065580 SOHI,MOHSEN M 7.000 .150 6.850 .1000 6.750 10/01/2027
500065582 YONKER,WILLIAM 8.125 .150 7.975 .1000 7.875 09/01/2027
500065583 WOLFF,MARK A 7.250 .150 7.100 .1000 7.000 10/01/2027
500065584 CHOULS,RAZA 7.875 .250 7.625 .0500 7.575 09/01/2027
500065586 REDDY,VODUR C 7.875 .150 7.725 .1000 7.625 09/01/2027
500065587 DEVITO,FRANK A 7.625 .250 7.375 .0500 7.325 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065564 SWANGEL,GORDON 092452841 $1,999.75 11/01/1997 360
500065566 BAUTISTA,GENE JAVIER 192440043 $2,963.50 12 11/01/1997 360
500065567 CANTWELL,DONALD D 092441967 $2,320.22 11/01/1997 360
500065568 STEFFEN,JOHN F III 092443870 $5,249.13 11/01/1997 360
500065569 PRATER,BYRON C 092446598 $1,619.08 11/01/1997 360
500065570 SHARE,ROBERT E 092450674 $6,046.52 11/01/1997 360
500065578 SWAD,STEPHEN M 092442620 $4,190.14 11/01/1997 360
500065579 FIRSHEIN,DANIEL 092446878 $2,377.33 11/01/1997 360
500065580 SOHI,MOHSEN M 092447515 $3,214.74 11/01/1997 360
500065582 YONKER,WILLIAM 092447636 $2,181.09 11/01/1997 360
500065583 WOLFF,MARK A 092449227 $1,882.81 11/01/1997 360
500065584 CHOULS,RAZA 092450974 $2,001.19 11/01/1997 360
500065586 REDDY,VODUR C 092451479 $2,073.34 11/01/1997 360
500065587 DEVITO,FRANK A 092452047 $1,519.28 11/01/1997 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>
500065564 SWANGEL,GORDON .00 .00 .00 .000 .150 .250 $357,500.00 N
500065566 BAUTISTA,GENE JAVIER .00 .00 .00 .000 .150 .250 $440,000.00 N
500065567 CANTWELL,DONALD D .00 .00 .00 .000 .150 .250 $400,000.00 N
500065568 STEFFEN,JOHN F III 5.00 .00 11.75 2.750 2.600 2.500 $950,000.00 N
500065569 PRATER,BYRON C .00 .00 .00 .000 .150 .250 $305,000.00 N
500065570 SHARE,ROBERT E .00 .00 .00 .000 .150 .250 $1,130,000.00 N
500065578 SWAD,STEPHEN M .00 .00 .00 .000 .150 .250 $740,000.00 N
500065579 FIRSHEIN,DANIEL .00 .00 .00 .000 .150 .250 $425,000.00 N
500065580 SOHI,MOHSEN M .00 .00 .00 .000 .150 .250 $604,000.00 N
500065582 YONKER,WILLIAM .00 .00 .00 .000 .150 .250 $390,000.00 N
500065583 WOLFF,MARK A .00 .00 .00 .000 .150 .250 $345,000.00 N
500065584 CHOULS,RAZA .00 .00 .00 .000 .250 .300 $345,000.00 N
500065586 REDDY,VODUR C .00 .00 .00 .000 .150 .250 $369,000.00 N
500065587 DEVITO,FRANK A .00 .00 .00 .000 .250 .300 $585,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065588 SALTZMAN,ERIC 1251 VALPARAISO AVENUE MENLO PARK CA 94205 $1,035,318.34
500065602 MALONEY,ARTHUR 37 HIGHLAND AVENUE FAIR HAVEN BORO NJ 07704 $229,829.31
500065603 FEDERICI,NANCY M 1 BLUEBERRY LANE NORTHBORO MA 01532 $301,977.24
500065604 BOWEN,JOYCE L 2838 BENSON ROAD FINKSBURG MD 21048 $247,733.59
500065606 SCHULTZ,DAVID J 14 GRISTMILL LANE NORTHBOROUGH MA 01532 $280,536.37
500065607 MCMANUS,FRANCIS 8814 THIRD AVENUE BOROUGH OF STON NJ 08247 $229,325.37
500065608 SCHULZ,WESLEY J 9155 REALES STREET RANCHO CUCAMONG CA 91737 $401,433.77
500065611 KING,LESLIE 10589 WILKINS AVENUE LOS ANGELES CA 90024 $431,388.23
500065612 PENNINGTON,JEN 280 PRINCETON AVENUE MILL VALLEY CA 94941 $287,581.78
500065619 MONKS,DONALD R 3 BRANDYWINE COURT TOWNSHIP OF RAN NJ 07968 $399,710.49
500065620 YANG,ERIC Y 11120 GLENBROOK LANE INDIAN HEAD PAR IL 60525 $474,697.11
500065621 HERB,RICHARD N 527 20TH STREET BOROUGH OF AVAL NJ 08202 $299,788.26
500065622 COUNTS,TRACY 11829 POINT ROCK WAY GOLD RIVER CA 95670 $245,076.91
500065623 FUDA,ANTHONY 659 PRINCETON AVENUE BRICK TOWNSHIP NJ 08724 $359,752.25
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065588 SALTZMAN,ERIC 7.875 .250 7.625 .0500 7.575 09/01/2027
500065602 MALONEY,ARTHUR 7.500 .150 7.350 .1000 7.250 10/01/2027
500065603 FEDERICI,NANCY M 8.000 .150 7.850 .1000 7.750 10/01/2027
500065604 BOWEN,JOYCE L 8.000 .150 7.850 .1000 7.750 10/01/2027
500065606 SCHULTZ,DAVID J 7.375 .150 7.225 .1000 7.125 10/01/2027
500065607 MCMANUS,FRANCIS 7.375 .150 7.225 .1000 7.125 10/01/2027
500065608 SCHULZ,WESLEY J 7.625 .150 7.475 .1000 7.375 10/01/2027
500065611 KING,LESLIE 7.750 .250 7.500 .0500 7.450 09/01/2027
500065612 PENNINGTON,JEN 7.625 .150 7.475 .1000 7.375 09/01/2027
500065619 MONKS,DONALD R 7.625 .150 7.475 .1000 7.375 10/01/2027
500065620 YANG,ERIC Y 8.250 .150 8.100 .1000 8.000 10/01/2027
500065621 HERB,RICHARD N 7.750 .150 7.600 .1000 7.500 10/01/2027
500065622 COUNTS,TRACY 7.750 .150 7.600 .1000 7.500 10/01/2027
500065623 FUDA,ANTHONY 7.875 .150 7.725 .1000 7.625 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065588 SALTZMAN,ERIC 092452244 $7,517.16 11/01/1997 360
500065602 MALONEY,ARTHUR 092441263 $1,608.19 11/01/1997 360
500065603 FEDERICI,NANCY M 092446545 $2,217.29 11/01/1997 360
500065604 BOWEN,JOYCE L 092450297 $1,819.74 11/01/1997 360
500065606 SCHULTZ,DAVID J 092451034 $1,939.07 11/01/1997 360
500065607 MCMANUS,FRANCIS 092451391 $1,585.10 2 11/01/1997 360
500065608 SCHULZ,WESLEY J 092452507 $2,859.49 11/01/1997 360
500065611 KING,LESLIE 092454720 $3,094.90 11/01/1997 360
500065612 PENNINGTON,JEN 092454764 $2,038.45 11/01/1997 360
500065619 MONKS,DONALD R 092432697 $2,831.18 11/01/1997 360
500065620 YANG,ERIC Y 092433394 $3,568.52 11/01/1997 360
500065621 HERB,RICHARD N 092438947 $2,149.24 11/01/1997 360
500065622 COUNTS,TRACY 092447737 $1,757.00 12 11/01/1997 360
500065623 FUDA,ANTHONY 092449871 $2,610.25 3 11/01/1997 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>
500065588 SALTZMAN,ERIC .00 .00 .00 .000 .250 .300 $1,595,000.00 N
500065602 MALONEY,ARTHUR .00 .00 .00 .000 .150 .250 $382,500.00 N
500065603 FEDERICI,NANCY M .00 .00 .00 .000 .150 .250 $377,725.00 N
500065604 BOWEN,JOYCE L .00 .00 .00 .000 .150 .250 $350,000.00 N
500065606 SCHULTZ,DAVID J .00 .00 .00 .000 .150 .250 $350,940.00 N
500065607 MCMANUS,FRANCIS .00 .00 .00 .000 .150 .250 $255,000.00 N
500065608 SCHULZ,WESLEY J .00 .00 .00 .000 .150 .250 $505,000.00 N
500065611 KING,LESLIE .00 .00 .00 .000 .250 .300 $540,000.00 N
500065612 PENNINGTON,JEN .00 .00 .00 .000 .150 .250 $360,000.00 N
500065619 MONKS,DONALD R .00 .00 .00 .000 .150 .250 $650,000.00 N
500065620 YANG,ERIC Y 5.00 .00 13.13 2.750 2.600 2.500 $598,126.00 N
500065621 HERB,RICHARD N .00 .00 .00 .000 .150 .250 $455,000.00 N
500065622 COUNTS,TRACY .00 .00 .00 .000 .150 .250 $272,500.00 N
500065623 FUDA,ANTHONY .00 .00 .00 .000 .150 .250 $400,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065624 WILT,JAMES P 1206 VIA TORNASOL APTOS CA 95003 $349,752.98
500065625 BRAUN,KENNETH A 7541 WEST 85TH STREET PLAYA DEL REY CA 90293 $469,782.50
500065626 THOMAS,KEVIN M 50 LANTERN LANE COHASSET MA 02025 $324,752.71
500065628 WHITE,PAUL J 3 MALEA LAGUNA NIGUEL CA 92677 $379,731.80
500065629 LARRABEE,MARY R 556 LONGLEY ROAD GROTON MA 01450 $245,821.96
500065630 LASH,MICHAEL B 7755 LAKESHORE DRIVE PARKER CO 80134 $289,800.43
500065632 FITZGERALD,MARTIN B 826 OLIMA STREET SAUSALITO CA 94965 $307,782.62
500065633 THOMANN,DOUGLAS G 14291 WILLOW WOOD LANE CHINO HILLS CA 91709 $251,826.58
500065652 DOLEZAL,THOMAS W 955 CHOKECHERRY LANE WEST YELLOWSTON MT 59758 $247,329.67
500065653 CHRISTOS,NICHOLAS J 10606 CORINTHIAN DRIVE CITY OF STONE H NJ 08247 $499,704.80
500065654 BUENDIA,ROSARIO S 1493 LEAFTREE CIRCLE SAN JOSE CA 95131 $286,802.49
500065655 BOYETT,SAMMY J 4910 SUNBIRD CLIFF DRIVE COLORADO SPRING CO 80919 $223,416.04
500065656 MOORHEAD,JANN S 43 LA CRESCENTA WAY SAN RAFAEL CA 94901 $503,625.96
500065657 VINROOT,CHARLES A 637 WESTFORD STREET CARLISLE MA 01741 $358,833.50
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065624 WILT,JAMES P 7.750 .150 7.600 .1000 7.500 10/01/2027
500065625 BRAUN,KENNETH A 8.125 .250 7.875 .0500 7.825 09/01/2027
500065626 THOMAS,KEVIN M 7.375 .150 7.225 .1000 7.125 10/01/2027
500065628 WHITE,PAUL J 7.750 .150 7.600 .1000 7.500 10/01/2027
500065629 LARRABEE,MARY R 7.625 .150 7.475 .1000 7.375 10/01/2027
500065630 LASH,MICHAEL B 7.875 .150 7.725 .1000 7.625 10/01/2027
500065632 FITZGERALD,MARTIN B 7.750 .150 7.600 .1000 7.500 10/01/2027
500065633 THOMANN,DOUGLAS G 7.875 .150 7.725 .1000 7.625 10/01/2027
500065652 DOLEZAL,THOMAS W 7.875 .150 7.725 .1000 7.625 10/01/2027
500065653 CHRISTOS,NICHOLAS J 8.625 .150 8.475 .1000 8.375 10/01/2027
500065654 BUENDIA,ROSARIO S 7.875 .250 7.625 .0500 7.575 10/01/2027
500065655 BOYETT,SAMMY J 7.875 .250 7.625 .0500 7.575 09/01/2027
500065656 MOORHEAD,JANN S 7.500 .150 7.350 .1000 7.250 10/01/2027
500065657 VINROOT,CHARLES A 7.500 .150 7.350 .1000 7.250 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065624 WILT,JAMES P 092450745 $2,507.44 11/01/1997 360
500065625 BRAUN,KENNETH A 092451632 $3,492.71 11/01/1997 360
500065626 THOMAS,KEVIN M 092452569 $2,244.69 11/01/1997 360
500065628 WHITE,PAUL J 092453330 $2,722.37 11/01/1997 360
500065629 LARRABEE,MARY R 092453911 $1,741.17 3 11/01/1997 360
500065630 LASH,MICHAEL B 092454107 $2,102.70 11/01/1997 360
500065632 FITZGERALD,MARTIN B 092455275 $2,206.55 11/01/1997 360
500065633 THOMANN,DOUGLAS G 092456653 $1,827.17 12 11/01/1997 360
500065652 DOLEZAL,THOMAS W 092415229 $1,794.55 3 11/01/1997 360
500065653 CHRISTOS,NICHOLAS J 092418899 $3,888.95 11/01/1997 360
500065654 BUENDIA,ROSARIO S 092446499 $2,080.95 14 11/01/1997 360
500065655 BOYETT,SAMMY J 092447655 $1,622.17 12 11/01/1997 360
500065656 MOORHEAD,JANN S 092448393 $3,524.04 11/01/1997 360
500065657 VINROOT,CHARLES A 092448592 $2,510.88 2 11/01/1997 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>
500065624 WILT,JAMES P .00 .00 .00 .000 .150 .250 $475,000.00 N
500065625 BRAUN,KENNETH A .00 .00 .00 .000 .250 .300 $588,000.00 N
500065626 THOMAS,KEVIN M .00 .00 .00 .000 .150 .250 $422,500.00 N
500065628 WHITE,PAUL J .00 .00 .00 .000 .150 .250 $540,000.00 N
500065629 LARRABEE,MARY R .00 .00 .00 .000 .150 .250 $259,000.00 N
500065630 LASH,MICHAEL B .00 .00 .00 .000 .150 .250 $365,000.00 N
500065632 FITZGERALD,MARTIN B .00 .00 .00 .000 .150 .250 $385,000.00 N
500065633 THOMANN,DOUGLAS G .00 .00 .00 .000 .150 .250 $280,000.00 N
500065652 DOLEZAL,THOMAS W .00 .00 .00 .000 .150 .250 $275,000.00 N
500065653 CHRISTOS,NICHOLAS J .00 .00 .00 .000 .150 .250 $735,000.00 N
500065654 BUENDIA,ROSARIO S .00 .00 .00 .000 .250 .300 $335,000.00 N
500065655 BOYETT,SAMMY J .00 .00 .00 .000 .250 .300 $235,500.00 N
500065656 MOORHEAD,JANN S .00 .00 .00 .000 .150 .250 $630,000.00 N
500065657 VINROOT,CHARLES A .00 .00 .00 .000 .150 .250 $399,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065658 ABRAHAM,RICHARD P 670 BETHLEHEM PIKE TWP. OF WHITEMA PA 19031 $279,781.58
500065659 BASARAB,GLENN C 5807 E. SANDSTONE CT. ORANGE CA 92869 $249,795.07
500065660 DARBY,GEOFFREY A 119 RIDGEWOOD AVENUE GLEN RIDGE BORO NJ 07028 $299,803.76
500065661 CARRANZA,SAMUEL H 13106 GREENGAGE LANE TAMPA FL 33612 $245,252.19
500065662 MIZE,GARY L 1464 WESSYNGTON ROAD ATLANTA GA 30306 $294,118.80
500065663 MCMANUS,M CHRISTIE 38831 SEDALIA DRIVE GUALALA CA 95445 $232,939.58
500065664 GEIGER,OTTO 5079 KENSINGTON CIRCLE CORAL SPRINGS FL 33076 $234,816.68
500065665 DEWOLF,DAVID L 340 PALMER ROAD LEBANON TN 37087 $479,643.77
500065666 DACUTI,DONNA L 1 MORNING SUN AVENUE MILL VALLEY CA 94941 $214,640.59
500065668 BOYTOS,GEOFFREY B 26 WILLOW COURT RIDGEFIELD CT 06877 $383,655.79
500065669 CONNOLLY,DAVID E 86 CALHOUN STREET WASHINGTON CT 06794 $535,611.00
500065670 ROSENBLOOM,BETTE 820 SOUTH GRETNA GREEN WA LOS ANGELES CA 90049 $554,618.05
500065671 MAGNUS,THOMAS B 48 BORDEN PLACE BOROUGH OF LITT NJ 07739 $364,255.43
500065709 AITKEN,EDWARD JAMES 61 GINGHAM STREET TRABUCO CANYON CA 92679 $264,924.29
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065658 ABRAHAM,RICHARD P 7.250 .150 7.100 .1000 7.000 10/01/2027
500065659 BASARAB,GLENN C 7.000 .150 6.850 .1000 6.750 10/01/2027
500065660 DARBY,GEOFFREY A 8.125 .150 7.975 .1000 7.875 10/01/2027
500065661 CARRANZA,SAMUEL H 7.750 .250 7.500 .0500 7.450 09/01/2027
500065662 MIZE,GARY L 7.625 .150 7.475 .1000 7.375 10/01/2027
500065663 MCMANUS,M CHRISTIE 7.875 .150 7.725 .1000 7.625 10/01/2027
500065664 GEIGER,OTTO 7.250 .150 7.100 .1000 7.000 10/01/2027
500065665 DEWOLF,DAVID L 7.500 .150 7.350 .1000 7.250 10/01/2027
500065666 DACUTI,DONNA L 7.500 .150 7.350 .1000 7.250 10/01/2027
500065668 BOYTOS,GEOFFREY B 7.875 .150 7.725 .1000 7.625 10/01/2027
500065669 CONNOLLY,DAVID E 8.000 .150 7.850 .1000 7.750 10/01/2027
500065670 ROSENBLOOM,BETTE 7.875 .250 7.625 .0500 7.575 10/01/2027
500065671 MAGNUS,THOMAS B 8.000 .150 7.850 .1000 7.750 10/01/2027
500065709 AITKEN,EDWARD JAMES 7.750 .250 7.500 .0500 7.450 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065658 ABRAHAM,RICHARD P 092448890 $1,910.09 11/01/1997 360
500065659 BASARAB,GLENN C 092449254 $1,663.26 11/01/1997 360
500065660 DARBY,GEOFFREY A 092450055 $2,227.49 11/01/1997 360
500065661 CARRANZA,SAMUEL H 092451205 $1,759.51 15 11/01/1997 360
500065662 MIZE,GARY L 092451406 $2,087.99 11/01/1997 360
500065663 MCMANUS,M CHRISTIE 092451863 $1,690.14 2 11/01/1997 360
500065664 GEIGER,OTTO 092452650 $1,603.11 11/01/1997 360
500065665 DEWOLF,DAVID L 092453362 $3,356.23 11/01/1997 360
500065666 DACUTI,DONNA L 092453371 $1,501.91 11/01/1997 360
500065668 BOYTOS,GEOFFREY B 092454197 $2,783.69 11/01/1997 360
500065669 CONNOLLY,DAVID E 092455282 $3,962.33 11/01/1997 360
500065670 ROSENBLOOM,BETTE 092456090 $4,024.14 11/01/1997 360
500065671 MAGNUS,THOMAS B 092456231 $2,674.57 2 11/01/1997 360
500065709 AITKEN,EDWARD JAMES 092441567 $1,900.65 2 11/01/1997 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>
500065658 ABRAHAM,RICHARD P .00 .00 .00 .000 .150 .250 $350,000.00 N
500065659 BASARAB,GLENN C .00 .00 .00 .000 .150 .250 $319,900.00 N
500065660 DARBY,GEOFFREY A .00 .00 .00 .000 .150 .250 $640,000.00 N
500065661 CARRANZA,SAMUEL H .00 .00 .00 .000 .250 .300 $289,000.00 N
500065662 MIZE,GARY L .00 .00 .00 .000 .150 .250 $415,000.00 N
500065663 MCMANUS,M CHRISTIE .00 .00 .00 .000 .150 .250 $259,000.00 N
500065664 GEIGER,OTTO .00 .00 .00 .000 .150 .250 $296,782.00 N
500065665 DEWOLF,DAVID L .00 .00 .00 .000 .150 .250 $640,000.00 N
500065666 DACUTI,DONNA L .00 .00 .00 .000 .150 .250 $440,000.00 N
500065668 BOYTOS,GEOFFREY B .00 .00 .00 .000 .150 .250 $479,900.00 N
500065669 CONNOLLY,DAVID E .00 .00 .00 .000 .150 .250 $890,000.00 N
500065670 ROSENBLOOM,BETTE .00 .00 .00 .000 .250 .300 $755,000.00 N
500065671 MAGNUS,THOMAS B .00 .00 .00 .000 .150 .250 $405,000.00 N
500065709 AITKEN,EDWARD JAMES .00 .00 .00 .000 .250 .300 $294,810.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065710 GIANNINI,AUGUSTO 5621 NW 105 COURT MIAMI FL 33178 $257,053.42
500065711 GOLDBAND,SHARON LEWIS 35 LAKESHORE DRIVE ROCKAWAY TOWNSH NJ 07866 $247,333.93
500065712 BERMAN,ROBERT C 535 WEST CRESCENT DRIVE PALO ALTO CA 94301 $649,529.55
500065713 MEES,DAVID 980 BRAMLEIGH LANE ANNAPOLIS MD 21401 $256,527.76
500065715 SMITH,JOHN L 4800 MEADOW LAKE DRIVE RICHTON PARK IL 60471 $219,041.35
500065764 WOODS,TERRY S 1700 RIVER PARK BLVD NAPA CA 94558 $222,250.78
500066129 GOTTLIEB,KEVIN 135 TINARI DRIVE TWP. OF NORTHAM PA 18954 $249,814.46
500066130 CRANE,DANIEL M 411 N.CUYLER AVENUE OAK PARK IL 60302 $229,342.05
500066131 PEREZ,JUANITA 4732 MYRTLE DRIVE DUBLIN CA 94568 $245,598.53
500066132 WARDROBE,CYNTHIA J 6296 SCENIC AVENUE LIVEMORE CA 94550 $245,360.71
500066134 LAROSA,VINCENT 110 NORWALK AVENUE STATEN ISLAND NY 10314 $224,749.28
500066135 CERNY,CHARLES J 93 LITTLE JOHN DRIVE MCMURRAY PA 15317 $265,821.52
500066136 WEEKS,MARK A 3402 BLUFF VIEW ST. CHARLES MO 63303 $266,181.83
500066138 APOLZON,LAWRENCE E 13 SCHOOLHOUSE ROAD ROXBURY CT 06783 $405,691.07
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065710 GIANNINI,AUGUSTO 8.000 .250 7.750 .0500 7.700 09/01/2027
500065711 GOLDBAND,SHARON LEWIS 8.000 .150 7.850 .1000 7.750 10/01/2027
500065712 BERMAN,ROBERT C 7.625 .250 7.375 .0500 7.325 10/01/2027
500065713 MEES,DAVID 8.000 .150 7.850 .1000 7.750 10/01/2027
500065715 SMITH,JOHN L 7.625 .150 7.475 .1000 7.375 10/01/2027
500065764 WOODS,TERRY S 8.000 .150 7.850 .1000 7.750 10/01/2027
500066129 GOTTLIEB,KEVIN 7.500 .150 7.350 .1000 7.250 10/01/2027
500066130 CRANE,DANIEL M 7.875 .250 7.625 .0500 7.575 10/01/2027
500066131 PEREZ,JUANITA 7.500 .250 7.250 .0500 7.200 08/01/2027
500066132 WARDROBE,CYNTHIA J 7.875 .250 7.625 .0500 7.575 09/01/2027
500066134 LAROSA,VINCENT 8.000 .150 7.850 .1000 7.750 10/01/2027
500066135 CERNY,CHARLES J 8.000 .150 7.850 .1000 7.750 10/01/2027
500066136 WEEKS,MARK A 8.000 .150 7.850 .1000 7.750 10/01/2027
500066138 APOLZON,LAWRENCE E 7.375 .150 7.225 .1000 7.125 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065710 GIANNINI,AUGUSTO 092442286 $1,888.72 7 11/01/1997 360
500065711 GOLDBAND,SHARON LEWIS 092446950 $1,816.07 2 11/01/1997 360
500065712 BERMAN,ROBERT C 092449522 $4,600.66 11/01/1997 360
500065713 MEES,DAVID 092450665 $1,883.57 11/01/1997 360
500065715 SMITH,JOHN L 092454648 $1,551.48 11/01/1997 360
500065764 WOODS,TERRY S 092456001 $1,631.89 11/01/1997 360
500066129 GOTTLIEB,KEVIN 092420878 $1,748.04 11/01/1997 360
500066130 CRANE,DANIEL M 092440888 $1,664.04 15 11/01/1997 360
500066131 PEREZ,JUANITA 092447138 $1,721.12 2 11/01/1997 360
500066132 WARDROBE,CYNTHIA J 092448216 $1,781.50 2 11/01/1997 360
500066134 LAROSA,VINCENT 092449043 $1,650.97 11/01/1997 360
500066135 CERNY,CHARLES J 092450847 $1,951.81 11/01/1997 360
500066136 WEEKS,MARK A 092450909 $1,954.75 11/01/1997 360
500066138 APOLZON,LAWRENCE E 092451190 $2,804.14 11/01/1997 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>
500065710 GIANNINI,AUGUSTO .00 .00 .00 .000 .250 .300 $286,000.00 N
500065711 GOLDBAND,SHARON LEWIS .00 .00 .00 .000 .150 .250 $275,000.00 N
500065712 BERMAN,ROBERT C .00 .00 .00 .000 .250 .300 $1,300,000.00 N
500065713 MEES,DAVID 2.00 .00 13.50 3.000 2.850 2.750 $325,000.00 N
500065715 SMITH,JOHN L .00 .00 .00 .000 .150 .250 $274,000.00 N
500065764 WOODS,TERRY S .00 .00 .00 .000 .150 .250 $278,000.00 N
500066129 GOTTLIEB,KEVIN .00 .00 .00 .000 .150 .250 $439,900.00 N
500066130 CRANE,DANIEL M .00 .00 .00 .000 .250 .300 $270,000.00 N
500066131 PEREZ,JUANITA .00 .00 .00 .000 .250 .300 $259,145.00 N
500066132 WARDROBE,CYNTHIA J .00 .00 .00 .000 .250 .300 $258,675.00 N
500066134 LAROSA,VINCENT .00 .00 .00 .000 .150 .250 $334,250.00 N
500066135 CERNY,CHARLES J .00 .00 .00 .000 .150 .250 $380,000.00 N
500066136 WEEKS,MARK A .00 .00 .00 .000 .150 .250 $333,000.00 N
500066138 APOLZON,LAWRENCE E .00 .00 .00 .000 .150 .250 $507,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066139 KATZ,SALLY 20 BOND LANE TIBURON CA 94920 $824,356.43
500066140 RILEY,ROBERT J 184 77TH STREET BOROUGH OF AVAL NJ 08202 $327,768.50
500066141 GORTON,JAMES S 9960 NORTH 111TH PLACE SCOTTSDALE AZ 85259 $315,747.30
500066143 HUNDLEY,RONNIE 15507 72ND DRIVE NW STANWOOD WA 98292 $279,862.99
500066145 CROWE,ROBERT J 5 HERON DRIVE MILL VALLEY CA 94941 $755,093.00
500066148 WITMER,MELVIN P JR 9 COZY GLEN CIRCLE HENDERSON NV 89014 $246,825.67
500066239 OHLER,CHRISANN DVM 94 LOVELL AVENUE MILL VALLEY CA 94941 $315,765.48
500066240 CHAPPELL,EMMA C 241 SOUTH 6TH STREET, UNI PHILADELPHIA PA 19106 $224,837.15
500066242 REEVE,WILLIAM J 1 AMHERST DRIVE HASTINGS-ON-HUD NY 10706 $247,234.71
500066244 ALCALAY,AHARON 8801 TWIN LAKES DRIVE BOCA RATON FL 33496 $750,483.17
500066245 LABRECQUE,JOSEPH E 1901- SPRINGRIDGE COURT CONCORD CA 94521 $292,298.70
500066317 SHANDRICK,STEPHEN ANDREW 21052 ASHLEY LANE LAKE FOREST CA 92630 $247,833.59
500066318 SPARBANIE,ARTHUR P JR 2836 BRECKENRIDGE LANE NAPERVILLE IL 60565 $236,840.98
500066320 LUTZ,MICHAEL P 704 SADDLEBACK CIRCLE LIVERMORE CA 94550 $244,170.80
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066139 KATZ,SALLY 7.250 .150 7.100 .1000 7.000 10/01/2027
500066140 RILEY,ROBERT J 7.750 .150 7.600 .1000 7.500 10/01/2027
500066141 GORTON,JAMES S 7.125 .150 6.975 .1000 6.875 10/01/2027
500066143 HUNDLEY,RONNIE 7.875 .250 7.625 .0500 7.575 09/01/2027
500066145 CROWE,ROBERT J 8.000 .250 7.750 .0500 7.700 10/01/2027
500066148 WITMER,MELVIN P JR 7.750 .150 7.600 .1000 7.500 10/01/2027
500066239 OHLER,CHRISANN DVM 7.500 .150 7.350 .1000 7.250 10/01/2027
500066240 CHAPPELL,EMMA C 7.625 .150 7.475 .1000 7.375 10/01/2027
500066242 REEVE,WILLIAM J 8.125 .150 7.975 .1000 7.875 10/01/2027
500066244 ALCALAY,AHARON 7.875 .150 7.725 .1000 7.625 10/01/2027
500066245 LABRECQUE,JOSEPH E 7.875 .150 7.725 .1000 7.625 10/01/2027
500066317 SHANDRICK,STEPHEN ANDREW 8.000 .150 7.850 .1000 7.750 10/01/2027
500066318 SPARBANIE,ARTHUR P JR 8.000 .150 7.850 .1000 7.750 10/01/2027
500066320 LUTZ,MICHAEL P 8.000 .250 7.750 .0500 7.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066139 KATZ,SALLY 092451369 $5,627.95 11/01/1997 360
500066140 RILEY,ROBERT J 092451574 $2,349.83 11/01/1997 360
500066141 GORTON,JAMES S 092451620 $2,128.95 11/01/1997 360
500066143 HUNDLEY,RONNIE 092454250 $2,032.01 12 11/01/1997 360
500066145 CROWE,ROBERT J 092454749 $5,544.33 11/01/1997 360
500066148 WITMER,MELVIN P JR 092457766 $1,769.54 2 11/01/1997 360
500066239 OHLER,CHRISANN DVM 092448568 $2,209.52 11/01/1997 360
500066240 CHAPPELL,EMMA C 092451313 $1,592.54 11/01/1997 360
500066242 REEVE,WILLIAM J 092455004 $1,837.68 12 11/01/1997 360
500066244 ALCALAY,AHARON 092457405 $5,445.27 11/01/1997 360
500066245 LABRECQUE,JOSEPH E 092458042 $2,120.83 12 11/01/1997 360
500066317 SHANDRICK,STEPHEN ANDREW 092446212 $1,819.74 11/01/1997 360
500066318 SPARBANIE,ARTHUR P JR 092446474 $1,739.02 11/01/1997 360
500066320 LUTZ,MICHAEL P 092448471 $1,794.06 2 11/01/1997 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>
500066139 KATZ,SALLY .00 .00 .00 .000 .150 .250 $1,325,000.00 N
500066140 RILEY,ROBERT J .00 .00 .00 .000 .150 .250 $410,000.00 N
500066141 GORTON,JAMES S .00 .00 .00 .000 .150 .250 $482,500.00 N
500066143 HUNDLEY,RONNIE .00 .00 .00 .000 .250 .300 $295,000.00 N
500066145 CROWE,ROBERT J .00 .00 .00 .000 .250 .300 $1,015,000.00 N
500066148 WITMER,MELVIN P JR .00 .00 .00 .000 .150 .250 $260,000.00 N
500066239 OHLER,CHRISANN DVM .00 .00 .00 .000 .150 .250 $395,000.00 N
500066240 CHAPPELL,EMMA C .00 .00 .00 .000 .150 .250 $311,000.00 N
500066242 REEVE,WILLIAM J .00 .00 .00 .000 .150 .250 $275,000.00 N
500066244 ALCALAY,AHARON .00 .00 .00 .000 .150 .250 $1,200,000.00 N
500066245 LABRECQUE,JOSEPH E .00 .00 .00 .000 .150 .250 $325,000.00 N
500066317 SHANDRICK,STEPHEN ANDREW .00 .00 .00 .000 .150 .250 $310,000.00 N
500066318 SPARBANIE,ARTHUR P JR .00 .00 .00 .000 .150 .250 $316,000.00 N
500066320 LUTZ,MICHAEL P .00 .00 .00 .000 .250 .300 $257,404.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066325 LESHER,MARK 46 HIGHPOINT ROAD TOWN OF WESTPOR CT 06880 $419,710.96
500066328 WITEK,JOHN S 33 GRANDVIEW ROAD SOUTHBURY CT 06488 $225,307.65
500066329 BOGUE,GARY 4673 PHEASANT COURT DUBLIN CA 94568 $287,292.56
500066331 CASAL,FRANK E 42 HAWKINS PLACE DUXBURY MA 02332 $500,000.00
500066333 WILLIAMS,JOEL DAVID 9405 RAVEN HOLLOW ROAD BRENTWOOD TN 30727 $260,116.28
500066335 BARTZ,JAMES L JR 16716 SE 34TH STREET BELLEVUE WA 98008 $399,670.52
500066336 CONROY,JAMES P 16601 GRANITE DRIVE RAMONA CA 92065 $250,627.41
500066340 LUGO,GERARDO DE 10869 HILLSIDE ROAD RANCHO CUCAMONG CA 91737 $543,596.27
500066345 BAUGHMAN,STEPHEN P 202 CHARLESTON DRIVE FRIENDSWOOD TX 77546 $357,753.63
500066346 DOPUDJA,MICHAEL S 5051 S. LAFAYETTE LANE ENGLEWOOD CO 80110 $229,837.67
500066347 CARSKI,THEODORE H 32732 HUNT LANE GOLTS MD 21637 $215,847.55
500066348 LESLIE,BRIAN G 1681 PARLIAMENT POINT N.E ATLANTA GA 30329 $399,710.49
500066349 DIGIOVANNI,RAYMOND A 25920 SE 23RD COURT ISSAQUAH WA 98029 $289,790.11
500066358 WESCH,WILLIAM G 428-430 NAPA STREET AND 1 SAUSALITO CA 94965 $783,418.16
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066325 LESHER,MARK 7.875 .150 7.725 .1000 7.625 10/01/2027
500066328 WITEK,JOHN S 7.500 .150 7.350 .1000 7.250 10/01/2027
500066329 BOGUE,GARY 7.750 .250 7.500 .0500 7.450 09/01/2027
500066331 CASAL,FRANK E 7.625 .150 7.475 .1000 7.375 11/01/2027
500066333 WILLIAMS,JOEL DAVID 7.750 .150 7.600 .1000 7.500 10/01/2027
500066335 BARTZ,JAMES L JR 7.625 .150 7.475 .1000 7.375 10/01/2027
500066336 CONROY,JAMES P 7.875 .150 7.725 .1000 7.625 10/01/2027
500066340 LUGO,GERARDO DE 7.500 .150 7.350 .1000 7.250 10/01/2027
500066345 BAUGHMAN,STEPHEN P 7.875 .150 7.725 .1000 7.625 10/01/2027
500066346 DOPUDJA,MICHAEL S 7.750 .150 7.600 .1000 7.500 10/01/2027
500066347 CARSKI,THEODORE H 7.750 .150 7.600 .1000 7.500 10/01/2027
500066348 LESLIE,BRIAN G 7.625 .150 7.475 .1000 7.375 10/01/2027
500066349 DIGIOVANNI,RAYMOND A 7.625 .150 7.475 .1000 7.375 10/01/2027
500066358 WESCH,WILLIAM G 7.500 .150 7.350 .1000 7.250 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066325 LESHER,MARK 092451075 $3,045.29 11/01/1997 360
500066328 WITEK,JOHN S 092451523 $1,576.73 11/01/1997 360
500066329 BOGUE,GARY 092451655 $2,061.12 2 11/01/1997 360
500066331 CASAL,FRANK E 092452534 $3,538.97 11/01/1997 360
500066333 WILLIAMS,JOEL DAVID 092452867 $1,864.82 33 11/01/1997 360
500066335 BARTZ,JAMES L JR 092453673 $2,830.89 11/01/1997 360
500066336 CONROY,JAMES P 092454110 $1,818.47 12 11/01/1997 360
500066340 LUGO,GERARDO DE 092454911 $3,803.73 11/01/1997 360
500066345 BAUGHMAN,STEPHEN P 092456176 $2,595.75 11/01/1997 360
500066346 DOPUDJA,MICHAEL S 092456314 $1,647.75 11/01/1997 360
500066347 CARSKI,THEODORE H 092456773 $1,547.45 1 11/01/1997 360
500066348 LESLIE,BRIAN G 092457063 $2,831.18 11/01/1997 360
500066349 DIGIOVANNI,RAYMOND A 092457070 $2,052.60 11/01/1997 360
500066358 WESCH,WILLIAM G 092451445 $5,481.84 11/01/1997 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>
500066325 LESHER,MARK .00 .00 .00 .000 .150 .250 $534,750.00 N
500066328 WITEK,JOHN S .00 .00 .00 .000 .150 .250 $327,500.00 N
500066329 BOGUE,GARY .00 .00 .00 .000 .250 .300 $302,877.00 N
500066331 CASAL,FRANK E .00 .00 .00 .000 .150 .250 $750,000.00 N
500066333 WILLIAMS,JOEL DAVID .00 .00 .00 .000 .150 .250 $274,000.00 N
500066335 BARTZ,JAMES L JR .00 .00 .00 .000 .150 .250 $499,950.00 N
500066336 CONROY,JAMES P .00 .00 .00 .000 .150 .250 $279,000.00 N
500066340 LUGO,GERARDO DE .00 .00 .00 .000 .150 .250 $680,000.00 N
500066345 BAUGHMAN,STEPHEN P .00 .00 .00 .000 .150 .250 $448,000.00 N
500066346 DOPUDJA,MICHAEL S .00 .00 .00 .000 .150 .250 $434,000.00 N
500066347 CARSKI,THEODORE H .00 .00 .00 .000 .150 .250 $240,000.00 N
500066348 LESLIE,BRIAN G .00 .00 .00 .000 .150 .250 $500,000.00 N
500066349 DIGIOVANNI,RAYMOND A .00 .00 .00 .000 .150 .250 $452,500.00 N
500066358 WESCH,WILLIAM G 5.00 .00 12.13 2.750 2.600 2.500 $980,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066359 KALAYDJIAN,CATHERINE A 12 BRADFORD AVENUE UPPER MONTCLAIR NJ 07043 $275,000.00
500066361 EMERSON,RICHARD P 3140 PACIFIC AVENUE SAN FRANCISCO CA 94115 $1,161,679.52
500066362 KELBAUGH,DOUGLAS G 18 HILL FARM ROAD PEMBROKE MA 02359 $229,795.71
500066372 VAN RAALTE,PETER 6 CYPRESS LANE BRIARCLIFF NY 10510 $429,696.50
500066373 CONNORS,MICHAEL W 26 EAST HICKORY HINSDALE IL 60521 $479,669.67
500066375 RESTREPO,EDWIN 185 LOMBARDY LANE ORINDA CA 94563 $644,800.00
500066377 OSBORNE,GARY T 42 BEAVER DAM ROAD EASTON MA 02375 $296,196.02
500066379 KRAMER,THERESA RETUE 851 TAMPICO DRIVE WALNUT CREEK CA 94598 $229,342.06
500066397 PENNINGTON,SCOTT W 2329 N. EUCLID AVENUE UPLAND CA 91784 $264,000.00
500066398 FRANZNICK,JOHN 161 WINDROSE PORT LUDLOW WA 98365 $280,000.00
500066399 HOWE,ROBERT D 57 GROZIER ROAD - APT 2 CAMBRIDGE MA 02138 $351,500.00
500066402 HENN,STEVEN M 22846 W. LOCHANORA DRIVE HAWTHORN WOODS IL 60047 $339,741.28
500066403 TAFT,JAMES T 2257 NORTH WISTERIA LANE ORANGE CA 92867 $288,152.45
500066404 ORMISTON,LLOYD R JR 12100 ROHAN ROAD OKLAHOMA CITY OK 73170 $250,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066359 KALAYDJIAN,CATHERINE A 7.625 .150 7.475 .1000 7.375 11/01/2027
500066361 EMERSON,RICHARD P 7.750 .150 7.600 .1000 7.500 10/01/2027
500066362 KELBAUGH,DOUGLAS G 8.000 .250 7.750 .0500 7.700 10/01/2027
500066372 VAN RAALTE,PETER 7.750 .250 7.500 .0500 7.450 10/01/2027
500066373 CONNORS,MICHAEL W 7.875 .150 7.725 .1000 7.625 10/01/2027
500066375 RESTREPO,EDWIN 7.750 .150 7.600 .1000 7.500 11/01/2027
500066377 OSBORNE,GARY T 7.875 .150 7.725 .1000 7.625 10/01/2027
500066379 KRAMER,THERESA RETUE 7.875 .150 7.725 .1000 7.625 10/01/2027
500066397 PENNINGTON,SCOTT W 7.625 .150 7.475 .1000 7.375 11/01/2027
500066398 FRANZNICK,JOHN 7.625 .150 7.475 .1000 7.375 11/01/2027
500066399 HOWE,ROBERT D 7.500 .150 7.350 .1000 7.250 11/01/2027
500066402 HENN,STEVEN M 7.375 .250 7.125 .0500 7.075 10/01/2027
500066403 TAFT,JAMES T 8.000 .250 7.750 .0500 7.700 10/01/2027
500066404 ORMISTON,LLOYD R JR 7.625 .150 7.475 .1000 7.375 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066359 KALAYDJIAN,CATHERINE A 092452808 $1,946.43 11/01/1997 360
500066361 EMERSON,RICHARD P 092455288 $8,328.29 11/01/1997 360
500066362 KELBAUGH,DOUGLAS G 092455314 $1,687.30 12 11/01/1997 360
500066372 VAN RAALTE,PETER 092432320 $3,080.58 11/01/1997 360
500066373 CONNORS,MICHAEL W 092434925 $3,480.33 11/01/1997 360
500066375 RESTREPO,EDWIN 092451109 $4,619.43 11/01/1997 360
500066377 OSBORNE,GARY T 092454688 $2,149.11 2 11/01/1997 360
500066379 KRAMER,THERESA RETUE 092456965 $1,664.03 12 11/01/1997 360
500066397 PENNINGTON,SCOTT W 092453418 $1,868.58 11/01/1997 360
500066398 FRANZNICK,JOHN 092456233 $1,981.82 11/01/1997 360
500066399 HOWE,ROBERT D 092457272 $2,457.74 11/01/1997 360
500066402 HENN,STEVEN M 092459102 $2,348.30 11/01/1997 360
500066403 TAFT,JAMES T 092459858 $2,116.91 11/01/1997 360
500066404 ORMISTON,LLOYD R JR 092461215 $1,769.48 2 11/01/1997 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>
500066359 KALAYDJIAN,CATHERINE A .00 .00 .00 .000 .150 .250 $417,500.00 N
500066361 EMERSON,RICHARD P .00 .00 .00 .000 .150 .250 $1,550,000.00 N
500066362 KELBAUGH,DOUGLAS G .00 .00 .00 .000 .250 .300 $255,500.00 N
500066372 VAN RAALTE,PETER .00 .00 .00 .000 .250 .300 $537,500.00 N
500066373 CONNORS,MICHAEL W .00 .00 .00 .000 .150 .250 $726,257.30 N
500066375 RESTREPO,EDWIN .00 .00 .00 .000 .150 .250 $860,000.00 N
500066377 OSBORNE,GARY T .00 .00 .00 .000 .150 .250 $312,000.00 N
500066379 KRAMER,THERESA RETUE 5.00 .00 12.38 2.750 2.600 2.500 $255,000.00 N
500066397 PENNINGTON,SCOTT W .00 .00 .00 .000 .150 .250 $330,000.00 N
500066398 FRANZNICK,JOHN .00 .00 .00 .000 .150 .250 $354,000.00 N
500066399 HOWE,ROBERT D 5.00 .00 12.38 2.750 2.600 2.500 $496,500.00 N
500066402 HENN,STEVEN M .00 .00 .00 .000 .250 .300 $425,000.00 N
500066403 TAFT,JAMES T .00 .00 .00 .000 .250 .300 $361,000.00 N
500066404 ORMISTON,LLOYD R JR .00 .00 .00 .000 .150 .250 $300,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066412 WAGENFELD,HENRY H 1225 MARIETTA DRIVE TOWNSHIP OF HOR PA 19002 $339,000.00
500066414 MILLS,STACEY L 442 PEAVEY ROAD WAYZATA MN 55391 $426,000.00
500066417 SEMENOV,SERGEI 13509 CHELTENHAM DRIVE LOS ANGELES CA 91423 $334,163.99
500066426 GRAY,PETER L 10603 JOHN STREET BARNEVELD NY 13304 $240,000.00
500066427 ANDERSON,JOHN R 4521 NORTH FRANCISCO AVEN CHICAGO IL 60625 $254,400.00
500066428 TONDREAU,PATRICK E 16216 AZALEA WAY LOS GATOS CA 95032 $384,741.68
500066429 WINGERSON,BRENT 5311 24TH CT RENTON WA 98056 $284,355.00
500066439 RESNICK,JULIUS L 75 WEST LAKESHORE DRIVE ROCKAWAY TOWNS NJ 07866 $307,000.00
500066444 TRACY,TERRENCE M 850 LANDMARK DRIVE ATLANTA GA 30342 $260,000.00
500066445 ALEXANDROU,ANTHONY G 2 PERRY COURT ARMONK NY 10504 $390,000.00
500066448 BURKINSHAW,MARK S 54 MOHAGANY CT. LAKE JACKSON TX 77566 $216,289.00
500066463 GANNON,THOMAS M JR 1419 ROYAL OAK DRIVE BLUE BELL PA 19422 $432,580.00
500066472 GRELLIER,KIMBERLY&ROBERT 71 TAYLOR ROAD STOW MA 01775 $266,207.19
500066473 MARTZ, ALAN M 2670 GALLIVAN LOOP PARK CITY UT 84060 $287,834.30
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066412 WAGENFELD,HENRY H 7.000 .150 6.850 .1000 6.750 11/01/2027
500066414 MILLS,STACEY L 7.625 .150 7.475 .1000 7.375 11/01/2027
500066417 SEMENOV,SERGEI 7.750 .250 7.500 .0500 7.450 10/01/2027
500066426 GRAY,PETER L 8.000 .150 7.850 .1000 7.750 11/01/2027
500066427 ANDERSON,JOHN R 8.000 .150 7.850 .1000 7.750 11/01/2027
500066428 TONDREAU,PATRICK E 8.000 .250 7.750 .0500 7.700 10/01/2027
500066429 WINGERSON,BRENT 7.375 .150 7.225 .1000 7.125 11/01/2027
500066439 RESNICK,JULIUS L 8.000 .150 7.850 .1000 7.750 11/01/2027
500066444 TRACY,TERRENCE M 7.500 .150 7.350 .1000 7.250 11/01/2027
500066445 ALEXANDROU,ANTHONY G 7.750 .150 7.600 .1000 7.500 11/01/2027
500066448 BURKINSHAW,MARK S 7.375 .150 7.225 .1000 7.125 11/01/2027
500066463 GANNON,THOMAS M JR 7.750 .150 7.600 .1000 7.500 11/01/2027
500066472 GRELLIER,KIMBERLY&ROBERT 7.625 .250 7.375 .0500 7.325 10/01/2027
500066473 MARTZ, ALAN M 8.750 .250 8.500 .0500 8.450 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066412 WAGENFELD,HENRY H 092446900 $2,255.38 11/01/1997 360
500066414 MILLS,STACEY L 092456164 $3,015.20 11/01/1997 360
500066417 SEMENOV,SERGEI 092460627 $2,395.68 11/01/1997 360
500066426 GRAY,PETER L 092453323 $1,761.04 11/01/1997 360
500066427 ANDERSON,JOHN R 092454324 $1,866.70 11/01/1997 360
500066428 TONDREAU,PATRICK E 092455619 $2,824.99 11/01/1997 360
500066429 WINGERSON,BRENT 092456220 $1,963.97 12 11/01/1997 360
500066439 RESNICK,JULIUS L 092452800 $2,252.66 11/01/1997 360
500066444 TRACY,TERRENCE M 092459309 $1,817.96 11/01/1997 360
500066445 ALEXANDROU,ANTHONY G 092459416 $2,794.01 11/01/1997 360
500066448 BURKINSHAW,MARK S 092460657 $1,493.85 11/01/1997 360
500066463 GANNON,THOMAS M JR 092416163 $3,099.06 11/01/1997 360
500066472 GRELLIER,KIMBERLY&ROBERT 0946400 $1,885.56 11/01/1997 360
500066473 MARTZ, ALAN M 7134988 $2,265.70 11/01/1997 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>
500066412 WAGENFELD,HENRY H .00 .00 .00 .000 .150 .250 $435,000.00 N
500066414 MILLS,STACEY L .00 .00 .00 .000 .150 .250 $826,000.00 N
500066417 SEMENOV,SERGEI .00 .00 .00 .000 .250 .300 $418,000.00 N
500066426 GRAY,PETER L .00 .00 .00 .000 .150 .250 $305,000.00 N
500066427 ANDERSON,JOHN R .00 .00 .00 .000 .150 .250 $318,000.00 N
500066428 TONDREAU,PATRICK E .00 .00 .00 .000 .250 .300 $615,000.00 N
500066429 WINGERSON,BRENT .00 .00 .00 .000 .150 .250 $315,950.00 N
500066439 RESNICK,JULIUS L .00 .00 .00 .000 .150 .250 $407,000.00 N
500066444 TRACY,TERRENCE M .00 .00 .00 .000 .150 .250 $335,000.00 N
500066445 ALEXANDROU,ANTHONY G .00 .00 .00 .000 .150 .250 $490,000.00 N
500066448 BURKINSHAW,MARK S .00 .00 .00 .000 .150 .250 $270,362.00 N
500066463 GANNON,THOMAS M JR .00 .00 .00 .000 .150 .250 $540,726.00 N
500066472 GRELLIER,KIMBERLY&ROBERT .00 .00 .00 .000 .250 .300 $333,000.00 N
500066473 MARTZ, ALAN M .00 .00 .00 .000 .250 .300 $360,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066476 TU,JOHN F&NATALIE S 29 CHAPEL HILL COURT WESTMONT IL 60559 $295,585.91
500066477 LOGSDON,RONALD D&CLAUDETT 5611 CHAPEL VIEW WAY CRESTWOOD KY 40014 $263,318.66
500066478 BRYJA, JAMES A. 206 SHINNECOCK ST. SIMONS ISLA GA 31522 $249,814.46
500066479 CLARKSON,PETER M&E LINDA 3030 SCIOTO ESTATES COURT HILLIARD OH 43026 $309,792.00
500066480 TILLER,STEPHEN R&BELINDA 5136 GABLE RIDGE LN HOLLY SPRINGS NC 27540 $319,762.51
500066481 COLINA,MERVYN F LOTS 2&3 GOSHEN VIEW EST ST STEPHENS CHU VA 23148 $268,681.23
500066482 HIETT,TIMOTHY C&MARGARITA 66 LONGVIEW DRIVE MARBLEHEAD MA 01945 $278,794.56
500066483 SHORE,JOHN W&SUZANNE B 4209 LONG CHAMP DR AUSTIN TX 78746 $422,916.04
500066484 KAMINSKI,DOUGLAS&CONSTANC 4341 TRAILS END DR DAYTON OH 45429 $383,735.73
500066485 REYNOLDS,PATRICK T 15221 LAUREL LN S PEMBROKE PINES FL 33027 $287,786.26
500066486 HUNTER,ROBERT A& DEBRA K 2714 N POINT CT SPRING VALLEY OH 45370 $249,832.26
500066487 THOMPSON,THOMAS&CHRISTY 1227 DRIFTWOOD DRIVE PITTSBURGH PA 15243 $244,373.00
500066488 BURTON,G MARK 26458 CATAWBA PERRYSBURG OH 43551 $219,828.38
500066489 ARMSTRONG,BRADLEY&KARLA 404 CONGRESS ST OTTAWA IL 61350 $231,840.34
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066476 TU,JOHN F&NATALIE S 7.625 .250 7.375 .0500 7.325 10/01/2027
500066477 LOGSDON,RONALD D&CLAUDETT 7.875 .250 7.625 .0500 7.575 10/01/2027
500066478 BRYJA, JAMES A. 7.500 .250 7.250 .0500 7.200 10/01/2027
500066479 CLARKSON,PETER M&E LINDA 8.000 .250 7.750 .0500 7.700 10/01/2027
500066480 TILLER,STEPHEN R&BELINDA 7.500 .250 7.250 .0500 7.200 10/01/2027
500066481 COLINA,MERVYN F 8.625 .250 8.375 .0500 8.325 09/01/2027
500066482 HIETT,TIMOTHY C&MARGARITA 7.625 .250 7.375 .0500 7.325 09/01/2027
500066483 SHORE,JOHN W&SUZANNE B 8.000 .250 7.750 .0500 7.700 10/01/2027
500066484 KAMINSKI,DOUGLAS&CONSTANC 7.875 .250 7.625 .0500 7.575 10/01/2027
500066485 REYNOLDS,PATRICK T 7.500 .250 7.250 .0500 7.200 10/01/2027
500066486 HUNTER,ROBERT A& DEBRA K 8.000 .250 7.750 .0500 7.700 10/01/2027
500066487 THOMPSON,THOMAS&CHRISTY 7.625 .250 7.375 .0500 7.325 10/01/2027
500066488 BURTON,G MARK 7.250 .250 7.000 .0500 6.950 10/01/2027
500066489 ARMSTRONG,BRADLEY&KARLA 7.875 .250 7.625 .0500 7.575 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066476 TU,JOHN F&NATALIE S 0945121 $2,093.66 12 11/01/1997 360
500066477 LOGSDON,RONALD D&CLAUDETT 0936283 $1,910.56 15 11/01/1997 360
500066478 BRYJA, JAMES A. 0945541 $1,748.04 11/01/1997 360
500066479 CLARKSON,PETER M&E LINDA 0943574 $2,274.68 11/01/1997 360
500066480 TILLER,STEPHEN R&BELINDA 0944979 $2,237.49 11/01/1997 360
500066481 COLINA,MERVYN F 8231000 $2,092.25 12 11/01/1997 360
500066482 HIETT,TIMOTHY C&MARGARITA 0945581 $1,976.17 11/01/1997 360
500066483 SHORE,JOHN W&SUZANNE B 8619991 $3,105.30 11/01/1997 360
500066484 KAMINSKI,DOUGLAS&CONSTANC 8659394 $2,784.27 11/01/1997 360
500066485 REYNOLDS,PATRICK T 8645021 $2,013.74 12 11/01/1997 360
500066486 HUNTER,ROBERT A& DEBRA K 8662362 $1,834.42 11/01/1997 360
500066487 THOMPSON,THOMAS&CHRISTY 0943567 $1,730.91 11/01/1997 360
500066488 BURTON,G MARK 8680983 $1,500.79 11/01/1997 360
500066489 ARMSTRONG,BRADLEY&KARLA 0944483 $1,682.17 11/01/1997 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>
500066476 TU,JOHN F&NATALIE S .00 .00 .00 .000 .250 .300 $360,000.00 N
500066477 LOGSDON,RONALD D&CLAUDETT .00 .00 .00 .000 .250 .300 $300,000.00 N
500066478 BRYJA, JAMES A. .00 .00 .00 .000 .250 .300 $417,000.00 N
500066479 CLARKSON,PETER M&E LINDA .00 .00 .00 .000 .250 .300 $500,000.00 N
500066480 TILLER,STEPHEN R&BELINDA .00 .00 .00 .000 .250 .300 $400,000.00 N
500066481 COLINA,MERVYN F .00 .00 .00 .000 .250 .300 $293,000.00 N
500066482 HIETT,TIMOTHY C&MARGARITA .00 .00 .00 .000 .250 .300 $349,000.00 N
500066483 SHORE,JOHN W&SUZANNE B .00 .00 .00 .000 .250 .300 $529,000.00 N
500066484 KAMINSKI,DOUGLAS&CONSTANC .00 .00 .00 .000 .250 .300 $430,000.00 N
500066485 REYNOLDS,PATRICK T .00 .00 .00 .000 .250 .300 $320,000.00 N
500066486 HUNTER,ROBERT A& DEBRA K .00 .00 .00 .000 .250 .300 $365,000.00 N
500066487 THOMPSON,THOMAS&CHRISTY .00 .00 .00 .000 .250 .300 $315,000.00 N
500066488 BURTON,G MARK .00 .00 .00 .000 .250 .300 $275,000.00 N
500066489 ARMSTRONG,BRADLEY&KARLA .00 .00 .00 .000 .250 .300 $290,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066490 WALLACE,HARRY C&PAMELA M 3610 SPERRY AVE NASHVILLE TN 37215 $255,814.72
500066491 REIGHARD,BARRY&ELIZABETH 5360 ANTIOCH RD HAYMARKET VA 22069 $249,871.56
500066492 DOUGHERTY,DOUGLAS&MAUREEN 14307 HEATHERSFIELD HOUSTON TX 77079 $228,630.20
500066493 PEDERSEN,RICHARD& BARBARA 1702 W DRY CREEK RD LITTLETON CO 80120 $244,618.32
500066494 ABERNATHY,LARRY W&LYNDA J 3505 WILLOWBROOK DR RICHARDSON TX 75082 $252,921.37
500066495 CREVISTON,TIMOTHY&KAREN 29091 N 68TH WAY CAVE CREEK AZ 85331 $301,292.51
500066496 TOOHEY,JAMES P&ANNE H 318 ALDERWOOD DRIVE GAITHERSBURG MD 20878 $316,552.87
500066497 ARENSON,DAVID&CHRISTINE 293 SYCAMORE AVE MERION STATION PA 19066 $307,529.83
500066498 MATTICE, KELLY R 7881 S MICHELE LANE TEMPE AZ 85284 $399,433.55
500066499 EARL,DANA L&PAULA K 3670 KENNYBROOK BLUFF UPPER ARLINGTON OH 43220 $225,844.47
500066500 SCHLANG,ELLIOTT L& GAIL C 35845 SOUTH WOODLAND HUNTING VALLEY OH 44022 $449,657.59
500066501 SCHULTE,KARI J&RICHARD M 174 S 58TH ST DES MOINES IA 50266 $230,237.39
500066502 WESTCOTT,MICHAEL C 18206 RIVER OAKS DR JUPITER FL 33458 $323,793.40
500066503 MCCARTHY,JOHN J& SUSAN G 3907 E HAZEL LN GREENSBORO NC 27408 $228,042.95
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066490 WALLACE,HARRY C&PAMELA M 7.625 .250 7.375 .0500 7.325 10/01/2027
500066491 REIGHARD,BARRY&ELIZABETH 8.125 .250 7.875 .0500 7.825 09/01/2027
500066492 DOUGHERTY,DOUGLAS&MAUREEN 7.500 .250 7.250 .0500 7.200 10/01/2027
500066493 PEDERSEN,RICHARD& BARBARA 7.500 .250 7.250 .0500 7.200 10/01/2027
500066494 ABERNATHY,LARRY W&LYNDA J 7.750 .250 7.500 .0500 7.450 10/01/2027
500066495 CREVISTON,TIMOTHY&KAREN 7.875 .250 7.625 .0500 7.575 10/01/2027
500066496 TOOHEY,JAMES P&ANNE H 7.250 .250 7.000 .0500 6.950 10/01/2027
500066497 ARENSON,DAVID&CHRISTINE 7.375 .250 7.125 .0500 7.075 09/01/2027
500066498 MATTICE, KELLY R 7.750 .250 7.500 .0500 7.450 09/01/2027
500066499 EARL,DANA L&PAULA K 7.875 .250 7.625 .0500 7.575 10/01/2027
500066500 SCHLANG,ELLIOTT L& GAIL C 7.375 .250 7.125 .0500 7.075 10/01/2027
500066501 SCHULTE,KARI J&RICHARD M 7.750 .250 7.500 .0500 7.450 10/01/2027
500066502 WESTCOTT,MICHAEL C 8.250 .250 8.000 .0500 7.950 10/01/2027
500066503 MCCARTHY,JOHN J& SUSAN G 7.875 .250 7.625 .0500 7.575 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066490 WALLACE,HARRY C&PAMELA M 0945250 $1,811.96 11/01/1997 360
500066491 REIGHARD,BARRY&ELIZABETH 8385825 $1,857.73 12 11/01/1997 360
500066492 DOUGHERTY,DOUGLAS&MAUREEN 0942331 $1,599.81 11/01/1997 360
500066493 PEDERSEN,RICHARD& BARBARA 0947470 $1,711.68 11/01/1997 360
500066494 ABERNATHY,LARRY W&LYNDA J 8617525 $1,813.24 11/01/1997 360
500066495 CREVISTON,TIMOTHY&KAREN 0944453 $2,186.08 12 11/01/1997 360
500066496 TOOHEY,JAMES P&ANNE H 8279685 $2,161.14 11/01/1997 360
500066497 ARENSON,DAVID&CHRISTINE 9175465 $2,127.28 11/01/1997 360
500066498 MATTICE, KELLY R 0941646 $2,865.65 12 11/01/1997 360
500066499 EARL,DANA L&PAULA K 0947738 $1,638.66 11/01/1997 360
500066500 SCHLANG,ELLIOTT L& GAIL C 8665039 $3,108.04 11/01/1997 360
500066501 SCHULTE,KARI J&RICHARD M 0945765 $1,650.62 11/01/1997 360
500066502 WESTCOTT,MICHAEL C 0945844 $2,434.11 11/01/1997 360
500066503 MCCARTHY,JOHN J& SUSAN G 8580500 $1,654.61 11/01/1997 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>
500066490 WALLACE,HARRY C&PAMELA M .00 .00 .00 .000 .250 .300 $320,000.00 N
500066491 REIGHARD,BARRY&ELIZABETH .00 .00 .00 .000 .250 .300 $275,000.00 N
500066492 DOUGHERTY,DOUGLAS&MAUREEN .00 .00 .00 .000 .250 .300 $295,000.00 N
500066493 PEDERSEN,RICHARD& BARBARA .00 .00 .00 .000 .250 .300 $306,000.00 N
500066494 ABERNATHY,LARRY W&LYNDA J .00 .00 .00 .000 .250 .300 $318,000.00 N
500066495 CREVISTON,TIMOTHY&KAREN .00 .00 .00 .000 .250 .300 $335,000.00 N
500066496 TOOHEY,JAMES P&ANNE H .00 .00 .00 .000 .250 .300 $396,050.00 N
500066497 ARENSON,DAVID&CHRISTINE .00 .00 .00 .000 .250 .300 $385,000.00 N
500066498 MATTICE, KELLY R .00 .00 .00 .000 .250 .300 $459,000.00 N
500066499 EARL,DANA L&PAULA K .00 .00 .00 .000 .250 .300 $325,000.00 N
500066500 SCHLANG,ELLIOTT L& GAIL C .00 .00 .00 .000 .250 .300 $757,000.00 N
500066501 SCHULTE,KARI J&RICHARD M .00 .00 .00 .000 .250 .300 $288,000.00 N
500066502 WESTCOTT,MICHAEL C .00 .00 .00 .000 .250 .300 $405,000.00 N
500066503 MCCARTHY,JOHN J& SUSAN G .00 .00 .00 .000 .250 .300 $325,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066504 RASMUSSEN,DENNIS& JANET S 3522 SWANS LANDING LAND O' LAKES FL 34639 $254,824.51
500066505 MENDENHALL,WAYNE &LISA 7231 CLIFFBROOK DR DALLAS TX 75240 $261,810.37
500066509 KATZ,DAVID M&LISA A 9435 SUNNYFIELD CT POTOMAC MD 20854 $357,753.63
500066510 KAPHENGST,JOEL L&AMY C 3895 N CHARLEMAGNE DRIVE HOFFMAN ESTATES IL 60195 $229,841.72
500066511 HARTLEY,KEITH A&CORA E 4301 GLEN LAUREL DRIVE RALEIGH NC 27612 $275,205.63
500066512 SEGRAVES,MARK&CASERTA,MAR 2610 SIMPSON STREET EVANSTON IL 60201 $274,805.91
500066513 FU,DANIEL&EMILY 4239 NOBLEMAN ST DULUTH GA 30155 $430,695.81
500066514 ROBINSON,GARY&SANDRA KAY 5932 KENSINGTON DR PLANO TX 75093 $284,588.64
500066515 EPPERSON,DEYONNE F&STEVEN 7326 WINSFORD SYLVANIA OH 43560 $266,562.35
500066516 KUNKEL,ERIC B&ELIZABETH 1100 WESTERN NORTHBROOK IL 60062 $364,742.39
500066517 SCHULTZ,BRYAN E&MIRJANA 15335 JILLIAN ROAD ORLAND PARK IL 60462 $264,000.00
500066518 BOOM,MELISSA K&COBURN,HUT 17103 TRENTON LANE EDEN PRAIRIE MN 55347 $233,834.85
500066519 KNUTSON,PAUL W&CYNTHIA F 902 PRAIRIE LAWN GLENVIEW IL 60025 $340,765.33
500066520 MILLER,DAVID W&JOAN M 5542 EAST OXFORD AVENUE ENGLEWOOD CO 80110 $321,761.03
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066504 RASMUSSEN,DENNIS& JANET S 7.875 .250 7.625 .0500 7.575 10/01/2027
500066505 MENDENHALL,WAYNE &LISA 7.625 .250 7.375 .0500 7.325 10/01/2027
500066509 KATZ,DAVID M&LISA A 7.875 .250 7.625 .0500 7.575 10/01/2027
500066510 KAPHENGST,JOEL L&AMY C 7.875 .250 7.625 .0500 7.575 10/01/2027
500066511 HARTLEY,KEITH A&CORA E 7.750 .250 7.500 .0500 7.450 10/01/2027
500066512 SEGRAVES,MARK&CASERTA,MAR 7.750 .250 7.500 .0500 7.450 10/01/2027
500066513 FU,DANIEL&EMILY 7.750 .250 7.500 .0500 7.450 10/01/2027
500066514 ROBINSON,GARY&SANDRA KAY 7.500 .250 7.250 .0500 7.200 10/01/2027
500066515 EPPERSON,DEYONNE F&STEVEN 7.625 .250 7.375 .0500 7.325 09/01/2027
500066516 KUNKEL,ERIC B&ELIZABETH 7.750 .250 7.500 .0500 7.450 10/01/2027
500066517 SCHULTZ,BRYAN E&MIRJANA 7.875 .250 7.625 .0500 7.575 11/01/2027
500066518 BOOM,MELISSA K&COBURN,HUT 7.750 .250 7.500 .0500 7.450 10/01/2027
500066519 KNUTSON,PAUL W&CYNTHIA F 7.875 .250 7.625 .0500 7.575 10/01/2027
500066520 MILLER,DAVID W&JOAN M 7.500 .250 7.250 .0500 7.200 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066504 RASMUSSEN,DENNIS& JANET S 0945774 $1,848.93 11/01/1997 360
500066505 MENDENHALL,WAYNE &LISA 0948305 $1,854.42 11/01/1997 360
500066509 KATZ,DAVID M&LISA A 8575261 $2,595.75 11/01/1997 360
500066510 KAPHENGST,JOEL L&AMY C 0947306 $1,667.66 11/01/1997 360
500066511 HARTLEY,KEITH A&CORA E 0947535 $1,973.00 1 11/01/1997 360
500066512 SEGRAVES,MARK&CASERTA,MAR 0945706 $1,970.14 11/01/1997 360
500066513 FU,DANIEL&EMILY 0944910 $3,087.74 11/01/1997 360
500066514 ROBINSON,GARY&SANDRA KAY 8673358 $1,991.37 11/01/1997 360
500066515 EPPERSON,DEYONNE F&STEVEN 8680993 $1,889.46 11/01/1997 360
500066516 KUNKEL,ERIC B&ELIZABETH 0945237 $2,614.91 11/01/1997 360
500066517 SCHULTZ,BRYAN E&MIRJANA 0948964 $1,914.18 11/01/1997 360
500066518 BOOM,MELISSA K&COBURN,HUT 0947252 $1,676.40 12 11/01/1997 360
500066519 KNUTSON,PAUL W&CYNTHIA F 0945369 $2,472.49 11/01/1997 360
500066520 MILLER,DAVID W&JOAN M 0948653 $2,251.47 11/01/1997 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>
500066504 RASMUSSEN,DENNIS& JANET S .00 .00 .00 .000 .250 .300 $465,000.00 N
500066505 MENDENHALL,WAYNE &LISA .00 .00 .00 .000 .250 .300 $330,000.00 N
500066509 KATZ,DAVID M&LISA A .00 .00 .00 .000 .250 .300 $512,500.00 N
500066510 KAPHENGST,JOEL L&AMY C .00 .00 .00 .000 .250 .300 $290,000.00 N
500066511 HARTLEY,KEITH A&CORA E .00 .00 .00 .000 .250 .300 $308,000.00 N
500066512 SEGRAVES,MARK&CASERTA,MAR .00 .00 .00 .000 .250 .300 $450,000.00 N
500066513 FU,DANIEL&EMILY .00 .00 .00 .000 .250 .300 $578,000.00 N
500066514 ROBINSON,GARY&SANDRA KAY .00 .00 .00 .000 .250 .300 $366,000.00 N
500066515 EPPERSON,DEYONNE F&STEVEN .00 .00 .00 .000 .250 .300 $339,000.00 N
500066516 KUNKEL,ERIC B&ELIZABETH .00 .00 .00 .000 .250 .300 $490,000.00 N
500066517 SCHULTZ,BRYAN E&MIRJANA .00 .00 .00 .000 .250 .300 $410,000.00 N
500066518 BOOM,MELISSA K&COBURN,HUT .00 .00 .00 .000 .250 .300 $260,000.00 N
500066519 KNUTSON,PAUL W&CYNTHIA F .00 .00 .00 .000 .250 .300 $438,000.00 N
500066520 MILLER,DAVID W&JOAN M .00 .00 .00 .000 .250 .300 $480,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066521 COBURN,MARK S 14 BRYDEN PARK PENFIELD NY 14580 $290,804.75
500066522 BROCKING,V GARTH&LINDA E 560 WATBORO HILL DR ALPHARETTA GA 30201 $269,799.62
500066523 FOX,VIRGINIA L 3720 CHIMNEY RIDGE DR WACO TX 78710 $321,783.95
500066524 KURDT,GARY J&ALIMEE 8295 CORBIN BRAXTON LN MECHANICSVILLE VA 23111 $220,000.00
500066525 JUBERT,INA D 17 HORSESHOE DRIVE ACTON MA 01720 $269,814.19
500066526 SOUTHWORTH,MARK W&KATHY L 10505 WOODBURN DR POWELL OH 43065 $231,871.17
500066527 WILSON,MADELENE B&ERIC R 25 STOW STREET CONCORD MA 01742 $221,847.22
500066529 BOLIN,L KELBY&APRIL L 1645 FILBERT COURT DENVER CO 80220 $270,718.23
500066530 KEHOE,MICHAEL J&YUN HUI 13875 WEST 30TH PLACE GOLDEN CO 80401 $226,643.92
500066531 WILLIAMS,WELTON S 410 GUILFORD FOREST LN ATLANTA GA 30331 $241,637.76
500066534 DEASON,EDWARD& CHRISTI 2830 ROSEGATE LN CHARLOTTE NC 28270 $219,836.73
500066535 GREEN,ERIC A&KATHERINE M 481 WASHINGTON ST DEDHAM MA 02026 $319,280.12
500066536 JONES,PAUL S&JOSEPHINE J 6301 EMERALD DRIVE COLLEYVILLE TX 76034 $259,825.55
500066537 VAN BUSKIRK,ROBERT& KAREN 5608 URSULA LANE DALLAS TX 75229 $350,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066521 COBURN,MARK S 8.000 .250 7.750 .0500 7.700 10/01/2027
500066522 BROCKING,V GARTH&LINDA E 7.500 .250 7.250 .0500 7.200 10/01/2027
500066523 FOX,VIRGINIA L 8.000 .250 7.750 .0500 7.700 10/01/2027
500066524 KURDT,GARY J&ALIMEE 7.500 .250 7.250 .0500 7.200 11/01/2027
500066525 JUBERT,INA D 7.875 .250 7.625 .0500 7.575 10/01/2027
500066526 SOUTHWORTH,MARK W&KATHY L 7.750 .250 7.500 .0500 7.450 09/01/2027
500066527 WILSON,MADELENE B&ERIC R 7.875 .250 7.625 .0500 7.575 10/01/2027
500066529 BOLIN,L KELBY&APRIL L 8.000 .250 7.750 .0500 7.700 10/01/2027
500066530 KEHOE,MICHAEL J&YUN HUI 7.875 .250 7.625 .0500 7.575 10/01/2027
500066531 WILLIAMS,WELTON S 8.000 .250 7.750 .0500 7.700 10/01/2027
500066534 DEASON,EDWARD& CHRISTI 7.500 .250 7.250 .0500 7.200 10/01/2027
500066535 GREEN,ERIC A&KATHERINE M 7.875 .250 7.625 .0500 7.575 10/01/2027
500066536 JONES,PAUL S&JOSEPHINE J 8.000 .250 7.750 .0500 7.700 10/01/2027
500066537 VAN BUSKIRK,ROBERT& KAREN 7.500 .250 7.250 .0500 7.200 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066521 COBURN,MARK S 0948017 $2,135.26 11/01/1997 360
500066522 BROCKING,V GARTH&LINDA E 0945619 $1,887.88 11/01/1997 360
500066523 FOX,VIRGINIA L 8260059 $2,362.73 11/01/1997 360
500066524 KURDT,GARY J&ALIMEE 8658066 $1,538.28 11/01/1997 360
500066525 JUBERT,INA D 0941051 $1,957.69 12 11/01/1997 360
500066526 SOUTHWORTH,MARK W&KATHY L 0942236 $1,663.51 11/01/1997 360
500066527 WILSON,MADELENE B&ERIC R 0944900 $1,609.66 11/01/1997 360
500066529 BOLIN,L KELBY&APRIL L 0947081 $1,987.77 12 11/01/1997 360
500066530 KEHOE,MICHAEL J&YUN HUI 0948628 $1,644.46 12 11/01/1997 360
500066531 WILLIAMS,WELTON S 0944961 $1,774.25 11/01/1997 360
500066534 DEASON,EDWARD& CHRISTI 0948432 $1,538.28 11/01/1997 360
500066535 GREEN,ERIC A&KATHERINE M 0947083 $2,316.60 12 11/01/1997 360
500066536 JONES,PAUL S&JOSEPHINE J 8660033 $1,907.79 11/01/1997 360
500066537 VAN BUSKIRK,ROBERT& KAREN 0948347 $2,447.26 11/01/1997 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>
500066521 COBURN,MARK S .00 .00 .00 .000 .250 .300 $365,000.00 N
500066522 BROCKING,V GARTH&LINDA E .00 .00 .00 .000 .250 .300 $345,000.00 N
500066523 FOX,VIRGINIA L .00 .00 .00 .000 .250 .300 $460,000.00 N
500066524 KURDT,GARY J&ALIMEE .00 .00 .00 .000 .250 .300 $300,000.00 N
500066525 JUBERT,INA D .00 .00 .00 .000 .250 .300 $300,000.00 N
500066526 SOUTHWORTH,MARK W&KATHY L .00 .00 .00 .000 .250 .300 $292,000.00 N
500066527 WILSON,MADELENE B&ERIC R .00 .00 .00 .000 .250 .300 $460,000.00 N
500066529 BOLIN,L KELBY&APRIL L .00 .00 .00 .000 .250 .300 $301,000.00 N
500066530 KEHOE,MICHAEL J&YUN HUI .00 .00 .00 .000 .250 .300 $252,000.00 N
500066531 WILLIAMS,WELTON S .00 .00 .00 .000 .250 .300 $320,000.00 N
500066534 DEASON,EDWARD& CHRISTI .00 .00 .00 .000 .250 .300 $290,000.00 N
500066535 GREEN,ERIC A&KATHERINE M .00 .00 .00 .000 .250 .300 $360,000.00 N
500066536 JONES,PAUL S&JOSEPHINE J .00 .00 .00 .000 .250 .300 $330,000.00 N
500066537 VAN BUSKIRK,ROBERT& KAREN .00 .00 .00 .000 .250 .300 $620,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066538 RAUCH,GORDON& CONIIE J 9578 DEEP CUT RD CRIDERSVILLE OH 45806 $374,721.70
500066539 GREGORY,KENT C& LYN S 2155 BENT CREEK MANOR ALPHARETTA GA 30005 $344,743.96
500066540 BRICKMAN,DAVID R& NANCY L 7434 BAXTERSHIRE DRIVE DALLAS TX 75230 $284,000.00
500066541 LAROCK,VIRGINIA J&GREGORY 16525 WILD BERRY RD MORRISON CO 80465 $284,813.57
500066542 HENNESSY JOHN P 162 N INVERWAY RD INVERNESS IL 60067 $323,782.60
500066543 ROBERTS EDWIN L & CAROL S 955 CONDOR PL COPPELL TX 75019 $272,597.54
500066545 SMITH MATTHEW & THERESA 28051 PASOE ALDONZA SAN JUAN CAPIST CA 92705 $379,731.80
500066546 BRAUNGART JEFFERY & LISA 115 INDIAN PIPE TRAIL MEDFORD NJ 08055 $242,324.49
500066547 PRIESTLEY,RONALD&GAIL 5565 N,ESPINA RD TUCSON AZ 85718 $254,420.31
500066548 HAWKINS,THOMAS&DARLENE 5349 CHARLES PL HIGHLAND HEIGHT OH 44143 $292,000.00
500066549 BRESLIN,THOMAS & SARAH 6601 KINGSBRIDGE DR CARY IL 60013 $370,531.63
500066550 TEESDALE CHRISTOPHER G 4420 SHENANDOAH ST DALLAS TX 75205 $226,000.00
500066551 WILSON GARY R &DONNA J 3219 FALL CREEK RD SPICEWOOD TX 78669 $259,417.50
500066569 GOLDMAN,BRAD 135 BRITE AVE SCARSDALE NY 10583 $430,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066538 RAUCH,GORDON& CONIIE J 7.500 .250 7.250 .0500 7.200 10/01/2027
500066539 GREGORY,KENT C& LYN S 7.500 .250 7.250 .0500 7.200 10/01/2027
500066540 BRICKMAN,DAVID R& NANCY L 7.625 .250 7.375 .0500 7.325 11/01/2027
500066541 LAROCK,VIRGINIA J&GREGORY 8.125 .250 7.875 .0500 7.825 10/01/2027
500066542 HENNESSY JOHN P 8.000 .250 7.750 .0500 7.700 10/01/2027
500066543 ROBERTS EDWIN L & CAROL S 7.500 .250 7.250 .0500 7.200 10/01/2027
500066545 SMITH MATTHEW & THERESA 7.750 .250 7.500 .0500 7.450 10/01/2027
500066546 BRAUNGART JEFFERY & LISA 7.625 .250 7.375 .0500 7.325 10/01/2027
500066547 PRIESTLEY,RONALD&GAIL 7.750 .250 7.500 .0500 7.450 10/01/2027
500066548 HAWKINS,THOMAS&DARLENE 7.875 .250 7.625 .0500 7.575 11/01/2027
500066549 BRESLIN,THOMAS & SARAH 7.625 .250 7.375 .0500 7.325 10/01/2027
500066550 TEESDALE CHRISTOPHER G 7.625 .250 7.375 .0500 7.325 11/01/2027
500066551 WILSON GARY R &DONNA J 7.500 .250 7.250 .0500 7.200 08/01/2027
500066569 GOLDMAN,BRAD 7.500 .150 7.350 .1000 7.250 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066538 RAUCH,GORDON& CONIIE J 0944772 $2,622.05 11/01/1997 360
500066539 GREGORY,KENT C& LYN S 0945624 $2,412.30 11/01/1997 360
500066540 BRICKMAN,DAVID R& NANCY L 0948759 $2,010.14 11/01/1997 360
500066541 LAROCK,VIRGINIA J&GREGORY 0948602 $2,116.12 11/01/1997 360
500066542 HENNESSY JOHN P 0945996 $2,377.40 15 11/01/1997 360
500066543 ROBERTS EDWIN L & CAROL S 0948444 $1,907.46 11/01/1997 360
500066545 SMITH MATTHEW & THERESA 8653711 $2,722.37 11/01/1997 360
500066546 BRAUNGART JEFFERY & LISA 8637810 $1,716.40 7 11/01/1997 360
500066547 PRIESTLEY,RONALD&GAIL 0948544 $1,823.99 11/01/1997 360
500066548 HAWKINS,THOMAS&DARLENE 866535 $2,117.20 12 11/01/1997 360
500066549 BRESLIN,THOMAS & SARAH 0943829 $2,624.50 12 11/01/1997 360
500066550 TEESDALE CHRISTOPHER G 0944965 $1,599.62 11/01/1997 360
500066551 WILSON GARY R &DONNA J 8619661 $1,817.96 11/01/1997 360
500066569 GOLDMAN,BRAD 092457602 $3,006.62 11/01/1997 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>
500066538 RAUCH,GORDON& CONIIE J .00 .00 .00 .000 .250 .300 $500,000.00 N
500066539 GREGORY,KENT C& LYN S .00 .00 .00 .000 .250 .300 $595,000.00 N
500066540 BRICKMAN,DAVID R& NANCY L .00 .00 .00 .000 .250 .300 $355,000.00 N
500066541 LAROCK,VIRGINIA J&GREGORY .00 .00 .00 .000 .250 .300 $490,000.00 N
500066542 HENNESSY JOHN P .00 .00 .00 .000 .250 .300 $360,000.00 N
500066543 ROBERTS EDWIN L & CAROL S .00 .00 .00 .000 .250 .300 $342,000.00 N
500066545 SMITH MATTHEW & THERESA .00 .00 .00 .000 .250 .300 $500,000.00 N
500066546 BRAUNGART JEFFERY & LISA .00 .00 .00 .000 .250 .300 $270,000.00 N
500066547 PRIESTLEY,RONALD&GAIL .00 .00 .00 .000 .250 .300 $370,000.00 N
500066548 HAWKINS,THOMAS&DARLENE .00 .00 .00 .000 .250 .300 $345,000.00 N
500066549 BRESLIN,THOMAS & SARAH .00 .00 .00 .000 .250 .300 $415,000.00 N
500066550 TEESDALE CHRISTOPHER G .00 .00 .00 .000 .250 .300 $282,500.00 N
500066551 WILSON GARY R &DONNA J .00 .00 .00 .000 .250 .300 $325,000.00 N
500066569 GOLDMAN,BRAD .00 .00 .00 .000 .150 .250 $590,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066598 BROWN,ANN&FUSSELL,SHARON 2400 WEATHERTON LANE RALEIGH NC 27613 $243,200.00
500066599 DASTVAN,FRANK&CELIA M 1502 DEBROLON LANE MULKITEO WA 98275 $234,842.32
500066601 HANLEIN,LEO A&PEGGY A 814 RUGBY PLACE LOUISVILLE KY 40222 $460,000.00
500066602 DITZIG,ROBERT J&LINDA L 7720 WALDON DR AUSTIN TX 78750 $233,689.07
500066603 ZINZILIETA,J MICHAEL&JILL 1912 OAK CREEK SPRINGFIELD IL 62704 $419,000.00
500066604 KOLBIN,STANISLAV&MARIA G 225 ANSONIA RD WOODBRIDGE CT 06525 $283,304.90
500066605 ROOT, SCOTT ALLEN 255&257 S ORANGE DR LOS ANGELES CA 90036 $394,721.21
500066606 GUILLAUME,STEVEN & LAURA 1400 ST ANDREWS BROOMFIELD CO 80020 $279,799.30
500066607 SNINSKY,JOHN J & SUSAN B 1 MIRA FLORES ONIDA CA 94563 $637,514.53
500066608 FOSTER COLLEEN A 407 SUL ROSS AVENUE HOUSTON TX 77006 $268,605.45
500066609 MUTH ROBERT L 6709 PRESTONSHIRE LN DALLAS TX 75225 $251,000.00
500066616 JACOBS,JONATHON&MEREDITH 13714 GOOSEFOOT TERRACE ROCKVILLE MD 20850 $319,779.78
500066617 DOMBROSKI,JOHN M&TRACEY C 4901 E BERYL AVE PARADISE VALLE AZ 85253 $408,000.00
600060704 PEIFER 23752 DEER CHASE LANE NAPERVILLE IL 60564 $241,018.53
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066598 BROWN,ANN&FUSSELL,SHARON 7.500 .250 7.250 .0500 7.200 11/01/2027
500066599 DASTVAN,FRANK&CELIA M 8.000 .250 7.750 .0500 7.700 10/01/2027
500066601 HANLEIN,LEO A&PEGGY A 7.750 .250 7.500 .0500 7.450 11/01/2027
500066602 DITZIG,ROBERT J&LINDA L 7.875 .250 7.625 .0500 7.575 10/01/2027
500066603 ZINZILIETA,J MICHAEL&JILL 7.500 .250 7.250 .0500 7.200 11/01/2027
500066604 KOLBIN,STANISLAV&MARIA G 7.875 .250 7.625 .0500 7.575 10/01/2027
500066605 ROOT, SCOTT ALLEN 7.750 .250 7.500 .0500 7.450 10/01/2027
500066606 GUILLAUME,STEVEN & LAURA 7.500 .250 7.250 .0500 7.200 10/01/2027
500066607 SNINSKY,JOHN J & SUSAN B 7.375 .250 7.125 .0500 7.075 10/01/2027
500066608 FOSTER COLLEEN A 7.625 .250 7.375 .0500 7.325 10/01/2027
500066609 MUTH ROBERT L 7.500 .250 7.250 .0500 7.200 11/01/2027
500066616 JACOBS,JONATHON&MEREDITH 7.875 .250 7.625 .0500 7.575 10/01/2027
500066617 DOMBROSKI,JOHN M&TRACEY C 7.875 .250 7.625 .0500 7.575 11/01/2027
600060704 PEIFER 7.750 .250 7.500 .0500 7.450 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>
500066598 BROWN,ANN&FUSSELL,SHARON 0948022 $1,700.49 11/01/1997 360
500066599 DASTVAN,FRANK&CELIA M 0947808 $1,724.35 11/01/1997 360
500066601 HANLEIN,LEO A&PEGGY A 0944337 $3,295.50 11/01/1997 360
500066602 DITZIG,ROBERT J&LINDA L 8619785 $1,695.58 15 11/01/1997 360
500066603 ZINZILIETA,J MICHAEL&JILL 0950685 $2,929.71 11/01/1997 360
500066604 KOLBIN,STANISLAV&MARIA G 8635321 $2,055.58 11/01/1997 360
500066605 ROOT, SCOTT ALLEN 8653419 $2,829.83 11/01/1997 360
500066606 GUILLAUME,STEVEN & LAURA 0945684 $1,957.80 11/01/1997 360
500066607 SNINSKY,JOHN J & SUSAN B 8653927 $4,406.51 11/01/1997 360
500066608 FOSTER COLLEEN A 0945768 $1,902.55 11/01/1997 360
500066609 MUTH ROBERT L 0948831 $1,755.03 11/01/1997 360
500066616 JACOBS,JONATHON&MEREDITH 0948550 $2,320.23 11/01/1997 360
500066617 DOMBROSKI,JOHN M&TRACEY C 0948079 $2,958.29 11/01/1997 360
600060704 PEIFER 0908063 $1,738.02 15 11/01/1997 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>
500066598 BROWN,ANN&FUSSELL,SHARON .00 .00 .00 .000 .250 .300 $307,000.00 N
500066599 DASTVAN,FRANK&CELIA M .00 .00 .00 .000 .250 .300 $300,000.00 N
500066601 HANLEIN,LEO A&PEGGY A .00 .00 .00 .000 .250 .300 $575,000.00 N
500066602 DITZIG,ROBERT J&LINDA L .00 .00 .00 .000 .250 .300 $264,886.00 N
500066603 ZINZILIETA,J MICHAEL&JILL .00 .00 .00 .000 .250 .300 $553,000.00 N
500066604 KOLBIN,STANISLAV&MARIA G .00 .00 .00 .000 .250 .300 $395,000.00 N
500066605 ROOT, SCOTT ALLEN .00 .00 .00 .000 .250 .300 $506,157.00 N
500066606 GUILLAUME,STEVEN & LAURA .00 .00 .00 .000 .250 .300 $351,000.00 N
500066607 SNINSKY,JOHN J & SUSAN B .00 .00 .00 .000 .250 .300 $815,000.00 N
500066608 FOSTER COLLEEN A .00 .00 .00 .000 .250 .300 $337,000.00 N
500066609 MUTH ROBERT L .00 .00 .00 .000 .250 .300 $390,000.00 N
500066616 JACOBS,JONATHON&MEREDITH .00 .00 .00 .000 .250 .300 $415,000.00 N
500066617 DOMBROSKI,JOHN M&TRACEY C .00 .00 .00 .000 .250 .300 $530,000.00 N
600060704 PEIFER .00 .00 .00 .000 .250 .300 $285,750.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600063598 COOK 120 ANCHORAGE DRIVE WEST ISLIP NY 11795 $274,975.96
600081055 STOLLER 19 OVERLOOK SANTA FE NM 87501 $279,500.46
600085648 TONKIN BRUCE 22170 MITCHELL ANTIOCH IL 60002 $285,624.57
600086381 Kenneth J Roberts 721 Fifth Avenue #60 A / New York NY 10022 $2,038,885.70
600088355 ZIVE CYNTHIA B 10890 SAN LEON AVE FOUNTAIN VALLEY CA 92708 $246,842.50
600088356 SEYMOUR JR JOHN F 46393 BLACK HAWK DR INDIAN WELLS CA 92210 $379,751.43
600088357 CONVERY DONALD P 21321 SEAFORTH LN HUNTINGTON BEAC CA 92646 $242,315.85
600088358 KELTERBORN HORST 26600 WESTVALE RD ROLLING HILLS CA 90274 $279,708.33
600088382 SEDELBAU 5716 TALL TIMBER DR SE GRAND RAPIDS MI 49546 $269,736.49
600088384 POLSKY 4436 S SEMINOLE GLENVIEW IL 60025 $291,823.10
600088387 RUSING 1425 BRADBURY TROY MI 48098 $269,466.56
600088391 SCOTT 1700 TREY CT WILMINGTON NC 28403 $289,000.40
600088424 MCMAHON 237 PEEKE KIRKWOOD MO 63122 $246,838.43
600088426 BENEDETT 4250 SANDY LANE BLOOMFIELD HILL MI 48301 $265,475.16
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600063598 COOK 8.000 .250 7.750 .0500 7.700 04/01/2027
600081055 STOLLER 8.625 .250 8.375 .0500 8.325 08/01/2027
600085648 TONKIN BRUCE 8.125 .250 7.875 .0500 7.825 09/01/2027
600086381 Kenneth J Roberts 9.000 .250 8.750 .0400 8.710 10/01/2027
600088355 ZIVE CYNTHIA B 8.250 .250 8.000 .0500 7.950 10/01/2027
600088356 SEYMOUR JR JOHN F 8.125 .250 7.875 .0500 7.825 10/01/2027
600088357 CONVERY DONALD P 7.750 .250 7.500 .0500 7.450 10/01/2027
600088358 KELTERBORN HORST 7.750 .250 7.500 .0500 7.450 10/01/2027
600088382 SEDELBAU 8.500 .250 8.250 .0500 8.200 10/01/2027
600088384 POLSKY 8.500 .250 8.250 .0500 8.200 10/01/2027
600088387 RUSING 8.125 .250 7.875 .0500 7.825 08/01/2027
600088391 SCOTT 8.000 .250 7.750 .0500 7.700 09/01/2027
600088424 MCMAHON 8.125 .250 7.875 .0500 7.825 10/01/2027
600088426 BENEDETT 8.500 .250 8.250 .0500 8.200 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600063598 COOK 4086120 $2,027.40 1 11/01/1997 360
600081055 STOLLER 092455359 $2,177.82 11/01/1997 360
600085648 TONKIN BRUCE 1170257 $2,123.54 11/01/1997 360
600086381 Kenneth J Roberts 261605 ********* 11/01/1997 360
600088355 ZIVE CYNTHIA B 9199180945 $1,855.63 2 11/01/1997 360
600088356 SEYMOUR JR JOHN F 9199437691 $2,821.49 11/01/1997 360
600088357 CONVERY DONALD P 9199942112 $1,737.21 2 11/01/1997 360
600088358 KELTERBORN HORST 9199962854 $2,005.96 11/01/1997 360
600088382 SEDELBAU 0926643 $2,075.30 11/01/1997 360
600088384 POLSKY 0927527 $2,245.23 11/01/1997 360
600088387 RUSING 0932229 $2,004.74 11/01/1997 360
600088391 SCOTT 0936038 $2,142.59 11/01/1997 360
600088424 MCMAHON 0941267 $1,833.97 12 11/01/1997 360
600088426 BENEDETT 0941500 $2,045.31 11/01/1997 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>
600063598 COOK .00 .00 .00 .000 .250 .300 $307,000.00 N
600081055 STOLLER .00 .00 .00 .000 .250 .300 $350,500.00 N
600085648 TONKIN BRUCE .00 .00 .00 .000 .250 .300 $390,000.00 N
600086381 Kenneth J Roberts .00 .00 .00 .000 .250 .290 $3,400,000.00 N
600088355 ZIVE CYNTHIA B .00 .00 .00 .000 .250 .300 $260,000.00 N
600088356 SEYMOUR JR JOHN F .00 .00 .00 .000 .250 .300 $475,000.00 N
600088357 CONVERY DONALD P .00 .00 .00 .000 .250 .300 $255,250.00 N
600088358 KELTERBORN HORST .00 .00 .00 .000 .250 .300 $610,000.00 N
600088382 SEDELBAU .00 .00 .00 .000 .250 .300 $359,900.00 N
600088384 POLSKY .00 .00 .00 .000 .250 .300 $365,900.00 N
600088387 RUSING .00 .00 .00 .000 .250 .300 $365,000.00 N
600088391 SCOTT .00 .00 .00 .000 .250 .300 $365,000.00 N
600088424 MCMAHON .00 .00 .00 .000 .250 .300 $260,000.00 N
600088426 BENEDETT .00 .00 .00 .000 .250 .300 $400,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088445 LING 9506 CASTLEFORD POINT ORLANDO FL 32836 $299,625.76
600088447 MICHAELS 4397 BOCAIRE BLVD BOCA RATON FL 33487 $399,751.38
600088450 MC GEE 9383 HOLLY BLUFFS DR MECHANICSVILLE VA 23116 $329,588.34
600088456 RAIA 2031 KENMORE CHICAGO IL 60614 $308,807.94
600088460 O'CONNOR 529 FOUNTAIN ST NE GRAND RAPIDS MI 49503 $219,863.26
600088472 LIGHTLE 11924 E SAGITTARIUS WILLIS TX 77378 $251,826.58
600088490 SETHI 60 HOYCLO STAMFORD CT 6703 $375,747.72
600088496 OHANESSI 1523 OLIVE LANE LA CANADA-FLINT CA 91011 $403,398.47
600088499 BREEZE 7159 PINE RIDGE DRIVE MEDFORD OR 97504 $419,148.92
600088500 ORTEGA 2025 CALLE MIRANDA FULLERTON CA 92833 $228,883.50
600088504 CHOU 18907 BELLGROVE CIRCLE SARATOGA CA 95070 $549,259.46
600088505 PIAZZOLA 1032 1034 SOUTH CRESCE LOS ANGELES CA 90035 $218,919.05
600088509 LOOMER 3508 EAST ROCKY SLOPE PHOENIX AZ 85044 $217,683.44
600088511 DINUZZO 10048 NORTH PAGE AVENUE FRESNO CA 93720 $219,703.77
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088445 LING 8.375 .250 8.125 .0500 8.075 09/01/2027
600088447 MICHAELS 8.375 .250 8.125 .0500 8.075 10/01/2027
600088450 MC GEE 8.375 .250 8.125 .0500 8.075 09/01/2027
600088456 RAIA 8.375 .250 8.125 .0500 8.075 10/01/2027
600088460 O'CONNOR 8.375 .250 8.125 .0500 8.075 10/01/2027
600088472 LIGHTLE 7.875 .250 7.625 .0500 7.575 10/01/2027
600088490 SETHI 8.000 .250 7.750 .0500 7.700 10/01/2027
600088496 OHANESSI 7.500 .250 7.250 .0500 7.200 09/01/2027
600088499 BREEZE 8.000 .250 7.750 .0500 7.700 08/01/2027
600088500 ORTEGA 7.875 .250 7.625 .0500 7.575 09/01/2027
600088504 CHOU 8.000 .250 7.750 .0500 7.700 09/01/2027
600088505 PIAZZOLA 7.875 .250 7.625 .0500 7.575 04/01/2027
600088509 LOOMER 7.625 .250 7.375 .0500 7.325 09/01/2027
600088511 DINUZZO 8.000 .250 7.750 .0500 7.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600088445 LING 0942841 $2,280.22 11/01/1997 360
600088447 MICHAELS 0943119 $3,040.29 11/01/1997 360
600088450 MC GEE 0943409 $2,508.24 11/01/1997 360
600088456 RAIA 0943859 $2,348.62 11/01/1997 360
600088460 O'CONNOR 0944022 $1,672.16 11/01/1997 360
600088472 LIGHTLE 0945470 $1,827.17 11/01/1997 360
600088490 SETHI 0948234 $2,758.95 11/01/1997 360
600088496 OHANESSI 6211913 $2,824.83 11/01/1997 360
600088499 BREEZE 6214137 $3,081.81 11/01/1997 360
600088500 ORTEGA 6214255 $1,661.86 11/01/1997 360
600088504 CHOU 6233528 $4,035.71 11/01/1997 360
600088505 PIAZZOLA 6234180 $1,595.16 11/01/1997 360
600088509 LOOMER 6262694 $1,542.99 11/01/1997 360
600088511 DINUZZO 6274769 $1,614.29 11/01/1997 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>
600088445 LING .00 .00 .00 .000 .250 .300 $389,000.00 N
600088447 MICHAELS .00 .00 .00 .000 .250 .300 $515,000.00 N
600088450 MC GEE .00 .00 .00 .000 .250 .300 $465,000.00 N
600088456 RAIA .00 .00 .00 .000 .250 .300 $395,000.00 N
600088460 O'CONNOR .00 .00 .00 .000 .250 .300 $275,000.00 N
600088472 LIGHTLE .00 .00 .00 .000 .250 .300 $315,000.00 N
600088490 SETHI .00 .00 .00 .000 .250 .300 $470,000.00 N
600088496 OHANESSI .00 .00 .00 .000 .250 .300 $505,000.00 N
600088499 BREEZE .00 .00 .00 .000 .250 .300 $690,000.00 N
600088500 ORTEGA .00 .00 .00 .000 .250 .300 $286,500.00 N
600088504 CHOU .00 .00 .00 .000 .250 .300 $739,950.00 N
600088505 PIAZZOLA .00 .00 .00 .000 .250 .300 $385,000.00 N
600088509 LOOMER .00 .00 .00 .000 .250 .300 $272,500.00 N
600088511 DINUZZO .00 .00 .00 .000 .250 .300 $295,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088512 SHELDON 39132 CHECKERBLOOM LANE SHAVER LAKE CA 93664 $249,280.13
600088514 FRICKS 5838 PEBBLE BEACH WAY SAN LUIS OBISPO CA 93401 $279,623.00
600088517 SHAFFER 465 BRISTOL STREET CAMBRIA CA 93428 $260,360.79
600088524 FLORES 1733 NORTHWEST 25TH AV PORTLAND OR 97210 $224,819.43
600088530 CLAUSEN 96 EDWARD AYER FLAGSTAFF AZ 86001 $239,668.58
600091270 MILLIGAN 6 BRINDLEWOOD COURT ALGONQUIN IL 60102 $250,386.10
600091271 BUTTS 1075 MANNING ROAD PALM HARBOR FL 34683 $243,671.47
600091272 SCHOLL 380 GREEN BAY ROAD WINNETKA IL 60093 $273,744.02
600091273 STARKEY 19 GARRISON ROAD BROOKLINE MA 21460 $243,663.06
600091275 HACKETT 1547 BRIARCLIFF DR SE GRAND RAPIDS MI 49546 $749,521.75
600091276 SOULE 4595 ENCHANTED POINT SHOREWOOD MN 55364 $598,784.16
600091277 FINATO 514 REGAN DR EAST DUNDEE IL 60118 $238,339.96
600091278 JEFFREY 8074 GROSSE ILE PARKWAY GROSSE ILE MI 48138 $299,542.04
600091279 SEARS 101 CAYMAN COVE DESTIN FL 32541 $249,654.79
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088512 SHELDON 7.875 .250 7.625 .0500 7.575 09/01/2027
600088514 FRICKS 8.000 .250 7.750 .0500 7.700 09/01/2027
600088517 SHAFFER 7.750 .250 7.500 .0500 7.450 09/01/2027
600088524 FLORES 8.000 .250 7.750 .0500 7.700 09/01/2027
600088530 CLAUSEN 7.875 .250 7.625 .0500 7.575 09/01/2027
600091270 MILLIGAN 8.125 .250 7.875 .0500 7.825 10/01/2027
600091271 BUTTS 8.000 .250 7.750 .0500 7.700 09/01/2027
600091272 SCHOLL 7.875 .250 7.625 .0500 7.575 05/01/2027
600091273 STARKEY 7.875 .250 7.625 .0500 7.575 09/01/2027
600091275 HACKETT 8.250 .250 8.000 .0500 7.950 10/01/2027
600091276 SOULE 8.000 .250 7.750 .0500 7.700 08/01/2027
600091277 FINATO 8.000 .250 7.750 .0500 7.700 10/01/2027
600091278 JEFFREY 7.375 .250 7.125 .0500 7.075 09/01/2027
600091279 SEARS 7.875 .250 7.625 .0500 7.575 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600088512 SHELDON 6275000 $1,812.68 11/01/1997 360
600088514 FRICKS 6285811 $2,054.54 11/01/1997 360
600088517 SHAFFER 6285869 $1,869.48 12 11/01/1997 360
600088524 FLORES 6311216 $1,652.07 2 11/01/1997 360
600088530 CLAUSEN 6312243 $1,740.17 11/01/1997 360
600091270 MILLIGAN 0906176 $1,860.33 11/01/1997 360
600091271 BUTTS 0913055 $1,790.39 11/01/1997 360
600091272 SCHOLL 0914725 $1,993.94 11/01/1997 360
600091273 STARKEY 0921617 $1,769.17 11/01/1997 360
600091275 HACKETT 0927009 $5,634.50 11/01/1997 360
600091276 SOULE 0928596 $4,402.59 11/01/1997 360
600091277 FINATO 0931815 $1,750.03 12 11/01/1997 360
600091278 JEFFREY 0932243 $2,072.03 11/01/1997 360
600091279 SEARS 0932427 $1,812.67 11/01/1997 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>
600088512 SHELDON .00 .00 .00 .000 .250 .300 $355,000.00 N
600088514 FRICKS .00 .00 .00 .000 .250 .300 $350,000.00 N
600088517 SHAFFER .00 .00 .00 .000 .250 .300 $307,000.00 N
600088524 FLORES .00 .00 .00 .000 .250 .300 $237,000.00 N
600088530 CLAUSEN .00 .00 .00 .000 .250 .300 $340,000.00 N
600091270 MILLIGAN .00 .00 .00 .000 .250 .300 $313,020.00 N
600091271 BUTTS .00 .00 .00 .000 .250 .300 $315,000.00 N
600091272 SCHOLL .00 .00 .00 .000 .250 .300 $621,394.00 N
600091273 STARKEY .00 .00 .00 .000 .250 .300 $305,000.00 N
600091275 HACKETT .00 .00 .00 .000 .250 .300 $1,075,000.00 N
600091276 SOULE .00 .00 .00 .000 .250 .300 $800,000.00 N
600091277 FINATO .00 .00 .00 .000 .250 .300 $261,696.00 N
600091278 JEFFREY .00 .00 .00 .000 .250 .300 $435,000.00 N
600091279 SEARS .00 .00 .00 .000 .250 .300 $325,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091280 REMER 4774 LAYFIELD DRIVE DUNWOODY GA 30338 $236,141.71
600091281 KARCZEWS 922 GLADSTONE DRIVE EAST GRAND RAPI MI 49506 $246,867.15
600091282 JOHNSON 710 S GREENWOOD AVENUE PARK RIDGE IL 60068 $251,652.02
600091283 POSNER 70-68 JAMAICA ROAD BROOKLINE MA 21460 $302,570.90
600091284 LEONARD 1002 CHATHAM ELMHURST IL 60126 $257,325.78
600091285 PAGE 10321 LAKESHORE DRIVE WEST OLIVE MI 49460 $379,745.02
600091286 SELTZER 8 EASTERN POINT ROAD GLOUCESTER MA 19300 $327,511.64
600091287 VEKSLER 24 CHURCHILL ROAD MARBLEHEAD MA 19450 $294,306.12
600091288 MILLS 4979 HIGHLAND OAKS WAY MABLETON GA 30059 $248,599.22
600091290 KRESS 6630 MARYWOOD RD BETHESDA MD 20817 $424,413.10
600091291 VIEILLE 31 LITTLE BEND RD BARRINGTON HILL IL 60010 $304,568.07
600091292 NORTH 136 ELMORE PARK RIDGE IL 60068 $324,770.62
600091293 FIFOLT 7360 CLEARVIEW DRIVE CALEDONIA MI 49316 $380,473.88
600091294 FARBERMA 2418 HIGHTEE COURT CROFTON MD 21114 $223,100.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091280 REMER 7.875 .250 7.625 .0500 7.575 07/01/2027
600091281 KARCZEWS 8.000 .250 7.750 .0500 7.700 09/01/2027
600091282 JOHNSON 7.875 .250 7.625 .0500 7.575 09/01/2027
600091283 POSNER 7.750 .250 7.500 .0500 7.450 09/01/2027
600091284 LEONARD 7.625 .250 7.375 .0500 7.325 09/01/2027
600091285 PAGE 8.000 .250 7.750 .0500 7.700 10/01/2027
600091286 SELTZER 7.500 .250 7.250 .0500 7.200 09/01/2027
600091287 VEKSLER 8.000 .250 7.750 .0500 7.700 08/01/2027
600091288 MILLS 7.625 .250 7.375 .0500 7.325 09/01/2027
600091290 KRESS 7.875 .250 7.625 .0500 7.575 09/01/2027
600091291 VIEILLE 7.750 .250 7.500 .0500 7.450 09/01/2027
600091292 NORTH 7.750 .250 7.500 .0500 7.450 10/01/2027
600091293 FIFOLT 7.875 .250 7.625 .0500 7.575 09/01/2027
600091294 FARBERMA 7.250 .250 7.000 .0500 6.950 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091280 REMER 0932478 $1,716.96 11/01/1997 360
600091281 KARCZEWS 0933165 $1,813.87 11/01/1997 360
600091282 JOHNSON 0933628 $1,827.17 11/01/1997 360
600091283 POSNER 0933934 $2,170.73 11/01/1997 360
600091284 LEONARD 0935056 $1,823.98 12 11/01/1997 360
600091285 PAGE 0935184 $2,788.31 11/01/1997 360
600091286 SELTZER 0935421 $2,293.42 11/01/1997 360
600091287 VEKSLER 0935444 $2,164.61 11/01/1997 360
600091288 MILLS 0935459 $1,770.19 12 11/01/1997 360
600091290 KRESS 0936165 $3,081.55 11/01/1997 360
600091291 VIEILLE 0936501 $2,185.06 11/01/1997 360
600091292 NORTH 0936538 $2,328.34 11/01/1997 360
600091293 FIFOLT 0936611 $2,762.51 11/01/1997 360
600091294 FARBERMA 0936679 $1,524.32 11/01/1997 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>
600091280 REMER .00 .00 .00 .000 .250 .300 $296,000.00 N
600091281 KARCZEWS .00 .00 .00 .000 .250 .300 $309,000.00 N
600091282 JOHNSON .00 .00 .00 .000 .250 .300 $315,000.00 N
600091283 POSNER .00 .00 .00 .000 .250 .300 $385,000.00 N
600091284 LEONARD .00 .00 .00 .000 .250 .300 $282,500.00 N
600091285 PAGE .00 .00 .00 .000 .250 .300 $698,000.00 N
600091286 SELTZER .00 .00 .00 .000 .250 .300 $450,000.00 N
600091287 VEKSLER .00 .00 .00 .000 .250 .300 $385,000.00 N
600091288 MILLS .00 .00 .00 .000 .250 .300 $277,900.00 N
600091290 KRESS .00 .00 .00 .000 .250 .300 $761,000.00 N
600091291 VIEILLE .00 .00 .00 .000 .250 .300 $450,000.00 N
600091292 NORTH .00 .00 .00 .000 .250 .300 $435,000.00 N
600091293 FIFOLT .00 .00 .00 .000 .250 .300 $485,000.00 N
600091294 FARBERMA .00 .00 .00 .000 .250 .300 $279,327.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091295 FELDMAN 15312 CHINABERRY STREET NORTH POTOMAC MD 20878 $331,505.68
600091296 IUCULANO 9 FALLING CREEK COURT SILVER SPRINGS MD 20904 $255,628.24
600091297 WILCOXON 5 KINGS LANE ST SIMONS ISLAN GA 31522 $249,636.97
600091298 CAPPRINI 3 CANDLEWOOD LANE SOUTHBOROUGH MA 17720 $263,576.51
600091299 WILLIAMS 4434 DUNMORE RD MARIETTA GA 30068 $273,602.12
600091300 LEIGHT 23188 W FAIRVIEW DRIVE BARRINGTON IL 60010 $347,020.13
600091301 VOMASTEK 600 BEACH RD FRANKFORT MI 49635 $449,362.73
600091302 LYON 5901 WOODACRES DRIVE BETHESDA MD 20816 $359,422.51
600091303 SCULLEY 2814 WESLEYAN DR CHURCHVILLE MD 21028 $278,959.41
600091304 ROSENBER 3209 KEYSER ROAD BALTIMORE MD 21208 $262,118.81
600091305 PICHLER 867 VIRGINIA LAKE CT PALATINE IL 60067 $372,957.62
600091306 GEORGE 519 GREGORY AVE WILMETTE IL 60091 $343,548.43
600091307 PLATIN 6 COACH-N-FOUR LANE FRONTENAC MO 63131 $325,526.60
600091308 LONEY 120 W DELAWARE PL CHICAGO IL 60610 $233,663.34
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091295 FELDMAN 7.500 .250 7.250 .0500 7.200 09/01/2027
600091296 IUCULANO 7.625 .250 7.375 .0500 7.325 09/01/2027
600091297 WILCOXON 7.625 .250 7.375 .0500 7.325 09/01/2027
600091298 CAPPRINI 7.125 .250 6.875 .0500 6.825 09/01/2027
600091299 WILLIAMS 7.625 .250 7.375 .0500 7.325 09/01/2027
600091300 LEIGHT 7.875 .250 7.625 .0500 7.575 09/01/2027
600091301 VOMASTEK 7.750 .250 7.500 .0500 7.450 09/01/2027
600091302 LYON 7.125 .250 6.875 .0500 6.825 09/01/2027
600091303 SCULLEY 7.625 .250 7.375 .0500 7.325 09/01/2027
600091304 ROSENBER 7.625 .250 7.375 .0500 7.325 09/01/2027
600091305 PICHLER 7.625 .250 7.375 .0500 7.325 09/01/2027
600091306 GEORGE 8.125 .250 7.875 .0500 7.825 09/01/2027
600091307 PLATIN 7.625 .250 7.375 .0500 7.325 09/01/2027
600091308 LONEY 8.000 .250 7.750 .0500 7.700 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091295 FELDMAN 0936840 $2,321.39 11/01/1997 360
600091296 IUCULANO 0936949 $1,811.96 11/01/1997 360
600091297 WILCOXON 0937359 $1,769.48 11/01/1997 360
600091298 CAPPRINI 0937396 $1,778.62 11/01/1997 360
600091299 WILLIAMS 0937477 $1,939.35 11/01/1997 360
600091300 LEIGHT 0937704 $2,519.62 11/01/1997 360
600091301 VOMASTEK 0937713 $3,223.86 11/01/1997 360
600091302 LYON 0937813 $2,425.39 11/01/1997 360
600091303 SCULLEY 0937917 $1,981.82 11/01/1997 360
600091304 ROSENBER 0937991 $1,857.96 11/01/1997 360
600091305 PICHLER 0938194 $2,643.61 12 11/01/1997 360
600091306 GEORGE 0938199 $2,554.19 11/01/1997 360
600091307 PLATIN 0938247 $2,307.41 11/01/1997 360
600091308 LONEY 0938285 $1,717.01 12 11/01/1997 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>
600091295 FELDMAN .00 .00 .00 .000 .250 .300 $415,000.00 N
600091296 IUCULANO .00 .00 .00 .000 .250 .300 $320,000.00 N
600091297 WILCOXON .00 .00 .00 .000 .250 .300 $725,000.00 N
600091298 CAPPRINI .00 .00 .00 .000 .250 .300 $330,000.00 N
600091299 WILLIAMS .00 .00 .00 .000 .250 .300 $350,000.00 N
600091300 LEIGHT .00 .00 .00 .000 .250 .300 $460,000.00 N
600091301 VOMASTEK .00 .00 .00 .000 .250 .300 $750,000.00 N
600091302 LYON .00 .00 .00 .000 .250 .300 $525,000.00 N
600091303 SCULLEY .00 .00 .00 .000 .250 .300 $360,000.00 N
600091304 ROSENBER .00 .00 .00 .000 .250 .300 $510,000.00 N
600091305 PICHLER .00 .00 .00 .000 .250 .300 $415,000.00 N
600091306 GEORGE .00 .00 .00 .000 .250 .300 $430,000.00 N
600091307 PLATIN .00 .00 .00 .000 .250 .300 $505,000.00 N
600091308 LONEY .00 .00 .00 .000 .250 .300 $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091309 CHANDLER 5260 SHADY ISLAND ROAD SHOREWOOD MN 55364 $279,083.83
600091310 BRAGG 5819 AUGUSTA CT HOUSTON TX 77057 $249,419.35
600091311 DAW 3043 PARK PLACE EVANSTON IL 60201 $369,476.02
600091312 HARDIMAN 2043 W THOMAS STREET CHICAGO IL 60622 $247,648.80
600091313 LA QUA 2121 W 52ND ST MINNEAPOLIS MN 55419 $223,666.48
600091314 BECKETT 2347 FOREST HILL CIRCLE MANSFIELD OH 44906 $319,558.11
600091315 MYERS 4833 E MEADOWS CT SE GRAND RAPIDS MI 49546 $253,029.54
600091316 HESELTON 4309 BRADLEY LANE CHEVY CHASE MD 20815 $329,520.80
600091317 ANTLE 13840 LAUREL ROCK COURT CLIFTON VA 20124 $279,467.92
600091318 KIM 13208 MAPLECREST DR POTOMAC MD 20854 $395,395.51
600091319 CONE 2620 LEAFIELD TERRACE MIDLOTHIAN VA 23113 $283,597.82
600091320 BRYANT 19455 SHERWOOD TRAIL MONUMENT CO 80132 $239,826.30
600091321 BUMGARNE 8458 TENNYSON COURT WEST CHESTER OH 45069 $259,622.45
600091322 HANKIN 14532 LIGHTNER ROAD HAYMARKET VA 20169 $224,547.59
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091309 CHANDLER 7.500 .250 7.250 .0500 7.200 09/01/2027
600091310 BRAGG 7.625 .250 7.375 .0500 7.325 10/01/2027
600091311 DAW 7.750 .250 7.500 .0500 7.450 09/01/2027
600091312 HARDIMAN 7.750 .250 7.500 .0500 7.450 09/01/2027
600091313 LA QUA 7.500 .250 7.250 .0500 7.200 09/01/2027
600091314 BECKETT 7.875 .250 7.625 .0500 7.575 09/01/2027
600091315 MYERS 7.875 .250 7.625 .0500 7.575 10/01/2027
600091316 HESELTON 7.625 .250 7.375 .0500 7.325 09/01/2027
600091317 ANTLE 8.000 .250 7.750 .0500 7.700 09/01/2027
600091318 KIM 7.375 .250 7.125 .0500 7.075 09/01/2027
600091319 CONE 7.750 .250 7.500 .0500 7.450 09/01/2027
600091320 BRYANT 7.625 .250 7.375 .0500 7.325 10/01/2027
600091321 BUMGARNE 7.625 .250 7.375 .0500 7.325 09/01/2027
600091322 HANKIN 7.250 .250 7.000 .0500 6.950 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091309 CHANDLER 0938286 $1,954.31 11/01/1997 360
600091310 BRAGG 0938292 $1,766.65 11/01/1997 360
600091311 DAW 0938365 $2,650.73 11/01/1997 360
600091312 HARDIMAN 0938400 $1,776.70 12 11/01/1997 360
600091313 LA QUA 0938436 $1,566.24 11/01/1997 360
600091314 BECKETT 0938588 $2,320.22 11/01/1997 360
600091315 MYERS 0938900 $1,838.05 11/01/1997 360
600091316 HESELTON 0938995 $2,335.72 11/01/1997 360
600091317 ANTLE 0939034 $2,054.54 11/01/1997 360
600091318 KIM 0939140 $2,735.07 11/01/1997 360
600091319 CONE 0939148 $2,034.61 11/01/1997 360
600091320 BRYANT 0939375 $1,698.70 11/01/1997 360
600091321 BUMGARNE 0939588 $1,840.26 11/01/1997 360
600091322 HANKIN 0939620 $1,534.90 7 11/01/1997 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>
600091309 CHANDLER .00 .00 .00 .000 .250 .300 $370,000.00 N
600091310 BRAGG .00 .00 .00 .000 .250 .300 $312,000.00 N
600091311 DAW .00 .00 .00 .000 .250 .300 $571,626.00 N
600091312 HARDIMAN .00 .00 .00 .000 .250 .300 $278,000.00 N
600091313 LA QUA .00 .00 .00 .000 .250 .300 $280,000.00 N
600091314 BECKETT .00 .00 .00 .000 .250 .300 $400,000.00 N
600091315 MYERS .00 .00 .00 .000 .250 .300 $316,900.00 N
600091316 HESELTON .00 .00 .00 .000 .250 .300 $505,000.00 N
600091317 ANTLE .00 .00 .00 .000 .250 .300 $350,000.00 N
600091318 KIM .00 .00 .00 .000 .250 .300 $495,000.00 N
600091319 CONE .00 .00 .00 .000 .250 .300 $355,000.00 N
600091320 BRYANT .00 .00 .00 .000 .250 .300 $477,000.00 N
600091321 BUMGARNE .00 .00 .00 .000 .250 .300 $347,000.00 N
600091322 HANKIN .00 .00 .00 .000 .250 .300 $250,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091323 BERMAN 7800 CHARLESTON DRIVE BETHESDA MD 20817 $280,991.35
600091324 HAWTHORN 1476 ALEX BELL ROAD WEST DAYTON OH 45459 $227,677.12
600091325 ROMERO 8816 WINGED FOOT DRIVE TALLAHASSEE FL 32312 $262,636.83
600091326 BLOCK 409 GREEN PASTURE DRIVE ROCKVILLE MD 20852 $274,600.65
600091327 CARSON 1302 ROOSEVELT STREET ALEXANDRIA VA 22302 $257,732.11
600091328 SMITH 3625 WINDLAKE DR SNELLVILLE GA 30039 $239,318.77
600091329 HEARN 8 CRANBERRY LANE NORWELL MA 20610 $391,458.69
600091330 RICE 151 BRUSHY HILL ROAD NEWTOWN CT 64700 $247,648.81
600091331 MATTINGL 4080 PARAN POINT DRIVE ATLANTA GA 30327 $304,557.10
600091332 CARLSEN 26 LAKESIDE DR N BARRINGTON IL 60010 $414,326.27
600091333 STONE 2442 N MARSHFIELD AVENUE CHICAGO IL 60614 $399,419.15
600091334 JENSEN 14710 11TH AVENUE N PLYMOUTH MN 55447 $233,692.83
600091335 WARSHAW 1776 COUNTRY CLUB DRIVE LONG GROVE IL 60047 $299,788.26
600091337 GASSMAN 2830 BERRYLAND DRIVE OAKTON VA 22124 $356,958.32
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091323 BERMAN 7.625 .250 7.375 .0500 7.325 09/01/2027
600091324 HAWTHORN 7.750 .250 7.500 .0500 7.450 09/01/2027
600091325 ROMERO 7.875 .250 7.625 .0500 7.575 09/01/2027
600091326 BLOCK 7.625 .250 7.375 .0500 7.325 09/01/2027
600091327 CARSON 7.750 .250 7.500 .0500 7.450 09/01/2027
600091328 SMITH 7.500 .250 7.250 .0500 7.200 09/01/2027
600091329 HEARN 7.875 .250 7.625 .0500 7.575 09/01/2027
600091330 RICE 7.750 .250 7.500 .0500 7.450 09/01/2027
600091331 MATTINGL 7.625 .250 7.375 .0500 7.325 09/01/2027
600091332 CARLSEN 7.875 .250 7.625 .0500 7.575 09/01/2027
600091333 STONE 7.625 .250 7.375 .0500 7.325 09/01/2027
600091334 JENSEN 8.125 .250 7.875 .0500 7.825 09/01/2027
600091335 WARSHAW 7.750 .250 7.500 .0500 7.450 10/01/2027
600091337 GASSMAN 7.250 .250 7.000 .0500 6.950 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091323 BERMAN 0939629 $1,991.74 11/01/1997 360
600091324 HAWTHORN 0939691 $1,633.42 11/01/1997 360
600091325 ROMERO 0939790 $1,906.93 2 11/01/1997 360
600091326 BLOCK 0940252 $1,946.44 11/01/1997 360
600091327 CARSON 0940340 $1,851.93 11/01/1997 360
600091328 SMITH 0940560 $1,678.11 11/01/1997 360
600091329 HEARN 0940671 $2,842.27 11/01/1997 360
600091330 RICE 0940697 $1,776.70 11/01/1997 360
600091331 MATTINGL 0940798 $2,158.77 11/01/1997 360
600091332 CARLSEN 0940905 $3,009.04 11/01/1997 360
600091333 STONE 0940975 $2,831.17 11/01/1997 360
600091334 JENSEN 0940978 $1,737.44 11/01/1997 360
600091335 WARSHAW 0940991 $2,149.24 11/01/1997 360
600091337 GASSMAN 0941401 $2,438.92 11/01/1997 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>
600091323 BERMAN .00 .00 .00 .000 .250 .300 $469,000.00 N
600091324 HAWTHORN .00 .00 .00 .000 .250 .300 $285,000.00 N
600091325 ROMERO .00 .00 .00 .000 .250 .300 $293,000.00 N
600091326 BLOCK .00 .00 .00 .000 .250 .300 $350,000.00 N
600091327 CARSON .00 .00 .00 .000 .250 .300 $407,000.00 N
600091328 SMITH .00 .00 .00 .000 .250 .300 $305,000.00 N
600091329 HEARN .00 .00 .00 .000 .250 .300 $490,000.00 N
600091330 RICE .00 .00 .00 .000 .250 .300 $310,000.00 N
600091331 MATTINGL .00 .00 .00 .000 .250 .300 $381,250.00 N
600091332 CARLSEN .00 .00 .00 .000 .250 .300 $650,000.00 N
600091333 STONE .00 .00 .00 .000 .250 .300 $1,200,000.00 N
600091334 JENSEN .00 .00 .00 .000 .250 .300 $355,000.00 N
600091335 WARSHAW .00 .00 .00 .000 .250 .300 $543,900.00 N
600091337 GASSMAN .00 .00 .00 .000 .250 .300 $446,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091338 BALKO 7661 LAURELWOOD DRIVE CANAL WINCHESTE OH 43110 $324,332.89
600091339 KANE 1697 STERLING OAKS CT SE ADA MI 49301 $470,076.27
600091340 DESROCHE 30 BRIAN WOODS DRIVE AVON CT 60010 $519,281.93
600091341 SULLIVAN 2621 PLANTATION COVE CIRC BIRMINGHAM AL 35226 $237,704.32
600091342 MCCLELLA 626 OLD IVY ROAD ATLANTA GA 30342 $252,432.90
600091343 GAULT 408 TANTALLON PEACHTREE CITY GA 30269 $304,311.07
600091344 RASPER 9445 COLONADE TRAIL ALPHARETTA GA 30202 $269,627.16
600091345 KERN 2832 24TH COURT FT LAUDERDALE FL 33305 $291,793.91
600091346 MAGOTO 229 SHELFORD WAY BEAVERCREEK OH 45440 $241,829.20
600091347 CHENG 2308 HAVERSHAM CLOSE VIRGINIA BEACH VA 23454 $262,323.87
600091348 MILLER 1703 POLING AVENUE FORT WASHINGTON MD 20744 $276,417.75
600091349 RICHARDS 8806 LYNNHURST DRIVE FAIRFAX VA 22031 $279,807.31
600091350 DYER 910 BURNHAM COURT AURORA IL 60504 $267,853.61
600091351 MOELLER 14540 90TH AVE NORTH SEMINOLE FL 33776 $247,333.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091338 BALKO 7.875 .250 7.625 .0500 7.575 09/01/2027
600091339 KANE 7.875 .250 7.625 .0500 7.575 10/01/2027
600091340 DESROCHE 7.875 .250 7.625 .0500 7.575 09/01/2027
600091341 SULLIVAN 7.625 .250 7.375 .0500 7.325 09/01/2027
600091342 MCCLELLA 7.625 .250 7.375 .0500 7.325 09/01/2027
600091343 GAULT 7.125 .250 6.875 .0500 6.825 09/01/2027
600091344 RASPER 7.875 .250 7.625 .0500 7.575 09/01/2027
600091345 KERN 7.750 .250 7.500 .0500 7.450 10/01/2027
600091346 MAGOTO 7.750 .250 7.500 .0500 7.450 10/01/2027
600091347 CHENG 8.000 .250 7.750 .0500 7.700 10/01/2027
600091348 MILLER 7.875 .250 7.625 .0500 7.575 09/01/2027
600091349 RICHARDS 7.875 .250 7.625 .0500 7.575 10/01/2027
600091350 DYER 9.000 .250 8.750 .0500 8.700 10/01/2027
600091351 MOELLER 8.000 .250 7.750 .0500 7.700 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091338 BALKO 0941496 $2,356.48 11/01/1997 360
600091339 KANE 0942085 $3,410.73 11/01/1997 360
600091340 DESROCHE 0942152 $3,770.36 11/01/1997 360
600091341 SULLIVAN 0942546 $1,684.90 12 11/01/1997 360
600091342 MCCLELLA 0942680 $1,789.30 11/01/1997 360
600091343 GAULT 0942826 $2,053.49 12 11/01/1997 360
600091344 RASPER 0942827 $1,957.69 11/01/1997 360
600091345 KERN 0942877 $2,091.92 11/01/1997 360
600091346 MAGOTO 0943294 $1,733.72 11/01/1997 360
600091347 CHENG 0944805 $1,926.13 11/01/1997 360
600091348 MILLER 0944848 $2,007.00 1 11/01/1997 360
600091349 RICHARDS 0944902 $2,030.19 11/01/1997 360
600091350 DYER 0945400 $2,156.39 11/01/1997 360
600091351 MOELLER 0946342 $1,816.07 11/01/1997 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>
600091338 BALKO .00 .00 .00 .000 .250 .300 $480,000.00 N
600091339 KANE .00 .00 .00 .000 .250 .300 $588,000.00 N
600091340 DESROCHE .00 .00 .00 .000 .250 .300 $650,000.00 N
600091341 SULLIVAN .00 .00 .00 .000 .250 .300 $264,500.00 N
600091342 MCCLELLA .00 .00 .00 .000 .250 .300 $316,000.00 N
600091343 GAULT .00 .00 .00 .000 .250 .300 $359,000.00 N
600091344 RASPER .00 .00 .00 .000 .250 .300 $760,000.00 N
600091345 KERN .00 .00 .00 .000 .250 .300 $365,000.00 N
600091346 MAGOTO .00 .00 .00 .000 .250 .300 $302,500.00 N
600091347 CHENG .00 .00 .00 .000 .250 .300 $430,000.00 N
600091348 MILLER .00 .00 .00 .000 .250 .300 $340,000.00 N
600091349 RICHARDS .00 .00 .00 .000 .250 .300 $380,000.00 N
600091350 DYER .00 .00 .00 .000 .250 .300 $366,500.00 N
600091351 MOELLER .00 .00 .00 .000 .250 .300 $330,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 33
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091352 LAMAMCUS 9801 HONEYCUTT RD RALEIGH NC 27614 $221,847.23
600091353 ANDERSON 134 CASHATT TRAIL BIRMINGHAM AL 35244 $245,826.38
600091354 MONOD 79 AVE G APALACHICOLA FL 32320 $350,758.45
600091355 BELL 694 DISCOVERY ROAD DAVIDSONVILLE MD 21035 $247,806.53
600091356 MADGE 3357 NORTHEAST OREGON ST PORTLAND OR 97232 $227,685.15
600091357 MORGAN 32035 41 STREET WEST ACTON CA 93510 $218,624.23
600091358 MAYER 786 WEST OAKCREST AVENUE BREA CA 92821 $254,066.05
600091359 MOREL 2034 LOS AMIGOS STREET LA CANADA CA 91011 $379,475.24
600091360 ROGERS 860 LARCH LANE SACRAMENTO CA 95864 $259,444.77
600091361 RASAKHOO 1917 HOLMBY AVENUE LOS ANGELES CA 90025 $359,821.92
600091362 MCBRIDE 884 ALVARADO STREET SAN FRANCISCO CA 94114 $370,209.37
600091363 FIMEA 3645 EL CAMINITO STREET GLENDALE CA 91214 $239,834.83
600091364 GARCIA 16490 CANELONES DRIVE HACIENDA HEIGHT CA 91745 $223,427.99
600091365 OJEDA 515 PINE HILL ROAD ANGWIN CA 94508 $311,351.60
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091352 LAMAMCUS 7.875 .250 7.625 .0500 7.575 10/01/2027
600091353 ANDERSON 7.750 .250 7.500 .0500 7.450 10/01/2027
600091354 MONOD 7.875 .250 7.625 .0500 7.575 10/01/2027
600091355 BELL 7.250 .250 7.000 .0500 6.950 10/01/2027
600091356 MADGE 7.875 .250 7.625 .0500 7.575 09/01/2027
600091357 MORGAN 8.000 .250 7.750 .0500 7.700 09/01/2027
600091358 MAYER 8.125 .250 7.875 .0500 7.825 09/01/2027
600091359 MOREL 7.875 .250 7.625 .0500 7.575 09/01/2027
600091360 ROGERS 7.875 .250 7.625 .0500 7.575 08/01/2027
600091361 RASAKHOO 8.000 .250 7.750 .0500 7.700 07/01/2027
600091362 MCBRIDE 7.750 .250 7.500 .0500 7.450 08/01/2027
600091363 FIMEA 7.875 .250 7.625 .0500 7.575 10/01/2027
600091364 GARCIA 8.500 .250 8.250 .0500 8.200 09/01/2027
600091365 OJEDA 7.875 .250 7.625 .0500 7.575 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091352 LAMAMCUS 0947401 $1,609.65 11/01/1997 360
600091353 ANDERSON 0948226 $1,762.37 11/01/1997 360
600091354 MONOD 0948249 $2,544.99 2 11/01/1997 360
600091355 BELL 0949171 $1,691.80 11/01/1997 360
600091356 MADGE 6211529 $1,653.16 11/01/1997 360
600091357 MORGAN 6211699 $1,606.95 11/01/1997 360
600091358 MAYER 6211862 $1,888.91 11/01/1997 360
600091359 MOREL 6211871 $2,755.27 11/01/1997 360
600091360 ROGERS 6213963 $1,885.18 11/01/1997 360
600091361 RASAKHOO 6214100 $2,647.42 11/01/1997 360
600091362 MCBRIDE 6214117 $2,657.89 11/01/1997 360
600091363 FIMEA 6215177 $1,740.17 11/01/1997 360
600091364 GARCIA 6215527 $1,720.06 12 11/01/1997 360
600091365 OJEDA 6233483 $2,262.22 11/01/1997 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>
600091352 LAMAMCUS .00 .00 .00 .000 .250 .300 $305,000.00 N
600091353 ANDERSON .00 .00 .00 .000 .250 .300 $328,000.00 N
600091354 MONOD .00 .00 .00 .000 .250 .300 $392,000.00 N
600091355 BELL .00 .00 .00 .000 .250 .300 $310,000.00 N
600091356 MADGE .00 .00 .00 .000 .250 .300 $285,000.00 N
600091357 MORGAN .00 .00 .00 .000 .250 .300 $275,000.00 N
600091358 MAYER .00 .00 .00 .000 .250 .300 $318,000.00 N
600091359 MOREL .00 .00 .00 .000 .250 .300 $500,000.00 N
600091360 ROGERS .00 .00 .00 .000 .250 .300 $325,000.00 N
600091361 RASAKHOO .00 .00 .00 .000 .250 .300 $451,000.00 N
600091362 MCBRIDE .00 .00 .00 .000 .250 .300 $490,000.00 N
600091363 FIMEA .00 .00 .00 .000 .250 .300 $300,000.00 N
600091364 GARCIA .00 .00 .00 .000 .250 .300 $235,500.00 N
600091365 OJEDA .00 .00 .00 .000 .250 .300 $390,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 34
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091366 KHANDWAL 1001 JOSHUA PLACE FREMONT CA 94539 $510,961.09
600091367 RATAJ 3697 ROSEVIEW AVENUE LOS ANGELES CA 90065 $298,771.90
600091368 BRYARS 5790 OWL HILL AVENUE SANTA ROSA CA 95409 $256,923.10
600091369 GOLDEN 406 WEST BLUFF AVENUE FRESNO CA 93711 $387,193.67
600091370 DESAI 25431 PACIFIC HILLS DR MISSION VIEJO CA 92692 $273,746.69
600091371 HALL 20921 BALBOA COURT FRIANT CA 93626 $286,691.50
600091372 SOMERA 4269 YACHT HARBOR DR STOCKTON CA 95204 $287,602.30
600091373 SPANO 1430 DORAL COURT SAN LUIS OBISPO CA 93401 $356,268.75
600091374 LEWIS 3936 VENTURA CANYON AVEN LOS ANGELES CA 91423 $240,799.81
600091375 SHAUL 84 TUNAPUNA LANE CORONADO CA 92118 $325,787.97
600091376 HOLT 3903 CALAVO DRIVE LA MESA CA 91941 $291,783.29
600091377 CURRY 8707 SOUTHWEST FIRVIEW P BEAVERTON OR 97007 $252,433.02
600091378 PED 5645 SOUTHWEST MAYFIELD PORTLAND OR 97225 $239,660.13
600091379 DONEGAN 2175 WINDHAM OAKS COURT WEST LINN OR 97068 $562,602.16
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091366 KHANDWAL 8.000 .250 7.750 .0500 7.700 09/01/2027
600091367 RATAJ 8.000 .250 7.750 .0500 7.700 05/01/2027
600091368 BRYARS 7.500 .250 7.250 .0500 7.200 09/01/2027
600091369 GOLDEN 7.875 .250 7.625 .0500 7.575 08/01/2027
600091370 DESAI 7.500 .250 7.250 .0500 7.200 10/01/2027
600091371 HALL 7.875 .250 7.625 .0500 7.575 05/01/2027
600091372 SOMERA 7.875 .250 7.625 .0500 7.575 09/01/2027
600091373 SPANO 7.500 .250 7.250 .0500 7.200 09/01/2027
600091374 LEWIS 7.625 .250 7.375 .0500 7.325 09/01/2027
600091375 SHAUL 7.750 .250 7.500 .0500 7.450 09/01/2027
600091376 HOLT 7.500 .250 7.250 .0500 7.200 10/01/2027
600091377 CURRY 7.875 .250 7.625 .0500 7.575 09/01/2027
600091378 PED 7.750 .250 7.500 .0500 7.450 09/01/2027
600091379 DONEGAN 7.750 .250 7.500 .0500 7.450 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091366 KHANDWAL 6233524 $3,754.31 11/01/1997 360
600091367 RATAJ 6234235 $2,201.30 11/01/1997 360
600091368 BRYARS 6264911 $1,800.48 11/01/1997 360
600091369 GOLDEN 6274949 $2,813.27 11/01/1997 360
600091370 DESAI 6275898 $1,915.50 2 11/01/1997 360
600091371 HALL 6283956 $2,087.48 7 11/01/1997 360
600091372 SOMERA 6284645 $2,088.20 7 11/01/1997 360
600091373 SPANO 6285812 $2,494.80 11/01/1997 360
600091374 LEWIS 6286837 $1,706.85 12 11/01/1997 360
600091375 SHAUL 6310122 $2,337.30 2 11/01/1997 360
600091376 HOLT 6310523 $2,041.71 11/01/1997 360
600091377 CURRY 6311482 $1,833.70 2 11/01/1997 360
600091378 PED 6311599 $1,719.39 11/01/1997 360
600091379 DONEGAN 6311617 $4,036.26 11/01/1997 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>
600091366 KHANDWAL .00 .00 .00 .000 .250 .300 $640,000.00 N
600091367 RATAJ .00 .00 .00 .000 .250 .300 $375,000.00 N
600091368 BRYARS .00 .00 .00 .000 .250 .300 $321,884.00 N
600091369 GOLDEN .00 .00 .00 .000 .250 .300 $490,000.00 N
600091370 DESAI .00 .00 .00 .000 .250 .300 $304,412.00 N
600091371 HALL .00 .00 .00 .000 .250 .300 $319,900.00 N
600091372 SOMERA .00 .00 .00 .000 .250 .300 $320,000.00 N
600091373 SPANO .00 .00 .00 .000 .250 .300 $446,000.00 N
600091374 LEWIS .00 .00 .00 .000 .250 .300 $268,000.00 N
600091375 SHAUL .00 .00 .00 .000 .250 .300 $362,500.00 N
600091376 HOLT .00 .00 .00 .000 .250 .300 $365,000.00 N
600091377 CURRY .00 .00 .00 .000 .250 .300 $281,000.00 N
600091378 PED .00 .00 .00 .000 .250 .300 $420,000.00 N
600091379 DONEGAN .00 .00 .00 .000 .250 .300 $740,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 35
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091380 IVERSEN 5902 NORTHWEST FAIR OAKS CORVALLIS OR 97330 $224,581.51
600091381 DICKIE I 3615 SOUTHWEST KELLY AVE PORTLAND OR 97201 $239,660.13
600091382 BURKE 17430 104TH AVENUE TUALATIN OR 97062 $237,344.64
600091383 ROESSEL 11826 GRAND VISTA DR CLACKAMAS OR 97015 $349,752.98
600091384 PAPE 6162 BURGUNDY DRIVE CORVALLIS OR 97330 $249,832.26
600091385 GORDON 4419 EAST INDIGO BAY DRI HIGLEY AZ 85236 $371,246.17
600091386 LEBOWITZ 4911 EAST PATRICK PHOENIX AZ 85024 $295,591.24
600091387 RAMLER 5022 BARWICK DR CAVE CREEK AZ 85331 $249,141.03
600091388 VARELA 10512 EAST CANNON DRIVE SCOTTSDALE AZ 85258 $279,613.34
600091389 EASLEY 1015 EAST BECK LANE PHEONIX AZ 85022 $252,659.34
600091390 LEHMAN 6157 NORTH STORMY MOUNTA PARKER CO 80134 $227,693.00
600091391 ABDOO 133 ROSWELL AVENUE LONG BEACH CA 90803 $407,345.52
600091392 FREY 1434 EAST NORTHRIDGE DR BOUNTIFUL UT 84010 $599,576.53
600091393 KNOWLES 7871 EAST 1300 NORTH HUNTSVILLE UT 84317 $327,493.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091380 IVERSEN 7.750 .250 7.500 .0500 7.450 09/01/2027
600091381 DICKIE I 7.750 .250 7.500 .0500 7.450 09/01/2027
600091382 BURKE 8.125 .250 7.875 .0500 7.825 10/01/2027
600091383 ROESSEL 7.750 .250 7.500 .0500 7.450 10/01/2027
600091384 PAPE 8.000 .250 7.750 .0500 7.700 10/01/2027
600091385 GORDON 8.000 .250 7.750 .0500 7.700 08/01/2027
600091386 LEBOWITZ 7.875 .250 7.625 .0500 7.575 09/01/2027
600091387 RAMLER 8.250 .250 8.000 .0500 7.950 10/01/2027
600091388 VARELA 7.875 .250 7.625 .0500 7.575 09/01/2027
600091389 EASLEY 8.000 .250 7.750 .0500 7.700 09/01/2027
600091390 LEHMAN 8.000 .250 7.750 .0500 7.700 09/01/2027
600091391 ABDOO 7.125 .250 6.875 .0500 6.825 09/01/2027
600091392 FREY 7.750 .250 7.500 .0500 7.450 10/01/2027
600091393 KNOWLES 8.125 .250 7.875 .0500 7.825 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091380 IVERSEN 6311706 $1,611.21 2 11/01/1997 360
600091381 DICKIE I 6311727 $1,719.39 11/01/1997 360
600091382 BURKE 6311734 $1,763.43 12 11/01/1997 360
600091383 ROESSEL 6311829 $2,507.44 12 11/01/1997 360
600091384 PAPE 6311842 $1,834.41 11/01/1997 360
600091385 GORDON 6312019 $2,729.61 11/01/1997 360
600091386 LEBOWITZ 6312245 $2,146.21 11/01/1997 360
600091387 RAMLER 6312366 $1,872.91 12 11/01/1997 360
600091388 VARELA 6312398 $2,030.20 11/01/1997 360
600091389 EASLEY 6312463 $1,856.43 11/01/1997 360
600091390 LEHMAN 6312558 $1,672.99 11/01/1997 360
600091391 ABDOO 6394735 $2,748.77 11/01/1997 360
600091392 FREY 7150905 $4,298.47 11/01/1997 360
600091393 KNOWLES 7202511 $2,435.39 11/01/1997 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>
600091380 IVERSEN .00 .00 .00 .000 .250 .300 $249,900.00 N
600091381 DICKIE I .00 .00 .00 .000 .250 .300 $300,000.00 N
600091382 BURKE .00 .00 .00 .000 .250 .300 $250,000.00 N
600091383 ROESSEL .00 .00 .00 .000 .250 .300 $389,950.00 N
600091384 PAPE .00 .00 .00 .000 .250 .300 $342,000.00 N
600091385 GORDON .00 .00 .00 .000 .250 .300 $465,000.00 N
600091386 LEBOWITZ .00 .00 .00 .000 .250 .300 $370,000.00 N
600091387 RAMLER .00 .00 .00 .000 .250 .300 $277,000.00 N
600091388 VARELA .00 .00 .00 .000 .250 .300 $353,000.00 N
600091389 EASLEY .00 .00 .00 .000 .250 .300 $360,000.00 N
600091390 LEHMAN .00 .00 .00 .000 .250 .300 $285,000.00 N
600091391 ABDOO .00 .00 .00 .000 .250 .300 $510,000.00 N
600091392 FREY .00 .00 .00 .000 .250 .300 $780,000.00 N
600091393 KNOWLES .00 .00 .00 .000 .250 .300 $410,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 36
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091394 MOSTAFA 9603 PEBBLE BROOK LANE GARDEN CITY ID 83703 $367,733.65
600091395 SIMON 1800 WALDMAN AVENUE LAS VEGAS NV 89102 $303,801.14
600091396 HOPKINS 5865 SOUTH 1075 EAST SOUTH OGDEN UT 84403 $229,522.03
600091397 ELKIN 27 GREENLOCH COURT PATASKALA OH 43062 $482,222.40
600091398 LUKE 128 TUPELO STREET SANTA ROSA BEAC FL 32459 $295,880.45
600091409 BENO 1725 KILLARNEY SHORES DR PETOSKEY MI 49770 $552,129.28
600091411 MURPHY 9827 BOLTON VILLAGE CT FAIRFAX VA 22030 $228,675.71
600091413 SIMIDIAN 8334 SANDERLING ROAD SARASOTA FL 34242 $649,168.19
600091428 SMITH 7413 OLD MAPLE SQUARE MCLEAN VA 22101 $599,097.75
600091430 MIUCCIO 79407940 MICHELLE COURT ORLAND PARK IL 60462 $323,788.06
600091434 MILLER 4505 WORTHINGTON MANOR W ELLICOTT CITY MD 21043 $244,972.56
600091465 BRAVERMA 15S ALBERT STREET MT PROSPECT IL 60067 $234,946.21
600091501 RUPP 683 WINDMILL COURT FREMONT CA 94539 $493,676.85
600091511 CORPUZ 1155 ARNOTT WAY CAMPBELL CA 95008 $314,814.02
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091394 MOSTAFA 7.625 .250 7.375 .0500 7.325 10/01/2027
600091395 SIMON 8.125 .250 7.875 .0500 7.825 10/01/2027
600091396 HOPKINS 7.875 .250 7.625 .0500 7.575 08/01/2027
600091397 ELKIN 8.750 .250 8.500 .0500 8.450 10/01/2027
600091398 LUKE 8.375 .250 8.125 .0500 8.075 09/01/2027
600091409 BENO 8.000 .250 7.750 .0500 7.700 10/01/2027
600091411 MURPHY 7.750 .250 7.500 .0500 7.450 09/01/2027
600091413 SIMIDIAN 8.250 .250 8.000 .0500 7.950 09/01/2027
600091428 SMITH 8.000 .250 7.750 .0500 7.700 10/01/2027
600091430 MIUCCIO 8.125 .250 7.875 .0500 7.825 10/01/2027
600091434 MILLER 7.625 .250 7.375 .0500 7.325 10/01/2027
600091465 BRAVERMA 8.125 .250 7.875 .0500 7.825 10/01/2027
600091501 RUPP 8.125 .250 7.875 .0500 7.825 10/01/2027
600091511 CORPUZ 8.625 .250 8.375 .0500 8.325 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091394 MOSTAFA 7212731 $2,604.68 11/01/1997 360
600091395 SIMON 7375720 $2,257.19 11/01/1997 360
600091396 HOPKINS 7385813 $1,667.66 11/01/1997 360
600091397 ELKIN 0912970 $3,795.83 11/01/1997 360
600091398 LUKE 0931089 $2,251.71 11/01/1997 360
600091409 BENO 0940168 $4,054.05 11/01/1997 360
600091411 MURPHY 0940320 $1,640.58 11/01/1997 360
600091413 SIMIDIAN 0940852 $4,883.23 11/01/1997 360
600091428 SMITH 0943433 $4,398.92 11/01/1997 360
600091430 MIUCCIO 0944109 $2,405.69 11/01/1997 360
600091434 MILLER 0944814 $1,735.16 11/01/1997 360
600091465 BRAVERMA 0947136 $1,745.61 12 11/01/1997 360
600091501 RUPP 6213998 $3,667.94 11/01/1997 360
600091511 CORPUZ 6216077 $2,450.04 11/01/1997 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>
600091394 MOSTAFA .00 .00 .00 .000 .250 .300 $460,000.00 N
600091395 SIMON .00 .00 .00 .000 .250 .300 $380,000.00 N
600091396 HOPKINS .00 .00 .00 .000 .250 .300 $292,000.00 N
600091397 ELKIN .00 .00 .00 .000 .250 .300 $650,000.00 N
600091398 LUKE .00 .00 .00 .000 .250 .300 $395,000.00 N
600091409 BENO .00 .00 .00 .000 .250 .300 $850,000.00 N
600091411 MURPHY .00 .00 .00 .000 .250 .300 $340,000.00 N
600091413 SIMIDIAN .00 .00 .00 .000 .250 .300 $950,000.00 N
600091428 SMITH .00 .00 .00 .000 .250 .300 $830,093.00 N
600091430 MIUCCIO .00 .00 .00 .000 .250 .300 $405,000.00 N
600091434 MILLER .00 .00 .00 .000 .250 .300 $306,483.00 N
600091465 BRAVERMA .00 .00 .00 .000 .250 .300 $247,500.00 N
600091501 RUPP .00 .00 .00 .000 .250 .300 $760,000.00 N
600091511 CORPUZ .00 .00 .00 .000 .250 .300 $525,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 37
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091514 DAYAN 1260 CAMPUS DRIVE BERKELEY CA 94708 $289,805.41
600091516 MANNING 9441 HERE TO THERE DRIVE CAREFREE AZ 85377 $299,808.70
600091518 NAYLOR 821 WARREN AVENUE LOS ANGELES CA 90291 $249,654.77
600091523 MC CAIN 6650 FERN CANYON ROAD SAN LUIS OBISPO CA 93401 $331,777.23
600091525 MOR 11 AMBER LN LAFAYETTE CA 94549 $215,593.84
600091530 EMRICK 5765 NW DAWSON LANE MCMINNVILLE OR 97128 $484,657.69
600091552 VIAN 5135 W ALAMEDA ROAD GLENDALE AZ 85310 $216,436.21
600091565 MULLIN 436 EAST TENTH AVENUE SALT LAKE CITY UT 84103 $235,860.67
600091567 MILLER 7833 ASTRAL AVENUE LAS VEGAS NV 89129 $259,834.21
600091574 GREY 6301 SOUTH VINTAGE OAK SALT LAKE CITY UT 84121 $339,542.22
600094180 TROMPETE 11 MUSKET LANE DARIEN CT 68200 $459,699.09
600103410 Bellew 661 Oakmont Court Mc Kinney TX 75069 $311,498.85
600103411 Meyveci 3893 Sally Lane Oceanside NY 11572 $258,458.81
600103412 Sommi 217 Por La Mar Circle Santa Barbara CA 93103 $275,896.47
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091514 DAYAN 8.000 .250 7.750 .0500 7.700 10/01/2027
600091516 MANNING 8.250 .250 8.000 .0500 7.950 10/01/2027
600091518 NAYLOR 7.875 .250 7.625 .0500 7.575 09/01/2027
600091523 MC CAIN 8.000 .250 7.750 .0500 7.700 10/01/2027
600091525 MOR 7.625 .250 7.375 .0500 7.325 10/01/2027
600091530 EMRICK 7.750 .250 7.500 .0500 7.450 10/01/2027
600091552 VIAN 7.875 .250 7.625 .0500 7.575 10/01/2027
600091565 MULLIN 8.625 .250 8.375 .0500 8.325 10/01/2027
600091567 MILLER 8.250 .250 8.000 .0500 7.950 10/01/2027
600091574 GREY 8.000 .250 7.750 .0500 7.700 09/01/2027
600094180 TROMPETE 8.125 .250 7.875 .0500 7.825 10/01/2027
600103410 Bellew 8.250 .250 8.000 .0400 7.960 09/01/2027
600103411 Meyveci 8.875 .250 8.625 .0400 8.585 09/01/2027
600103412 Sommi 8.250 .250 8.000 .0400 7.960 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091514 DAYAN 6233692 $2,127.92 11/01/1997 360
600091516 MANNING 6236173 $2,253.80 11/01/1997 360
600091518 NAYLOR 6271424 $1,812.68 11/01/1997 360
600091523 MC CAIN 6285669 $2,436.10 11/01/1997 360
600091525 MOR 6295539 $1,527.07 11/01/1997 360
600091530 EMRICK 6311604 $3,474.60 11/01/1997 360
600091552 VIAN 6312622 $1,571.59 11/01/1997 360
600091565 MULLIN 7138688 $1,835.58 11/01/1997 360
600091567 MILLER 7275720 $1,953.29 11/01/1997 360
600091574 GREY 7558712 $2,494.80 11/01/1997 360
600094180 TROMPETE 931279 $3,415.49 11/01/1997 360
600103410 Bellew 222408 $2,344.70 11/01/1997 360
600103411 Meyveci 249479 $2,058.73 11/01/1997 360
600103412 Sommi 252248 $2,075.38 11/01/1997 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>
600091514 DAYAN .00 .00 .00 .000 .250 .300 $405,000.00 N
600091516 MANNING .00 .00 .00 .000 .250 .300 $525,000.00 N
600091518 NAYLOR .00 .00 .00 .000 .250 .300 $312,500.00 N
600091523 MC CAIN .00 .00 .00 .000 .250 .300 $415,000.00 N
600091525 MOR .00 .00 .00 .000 .250 .300 $355,000.00 N
600091530 EMRICK .00 .00 .00 .000 .250 .300 $650,000.00 N
600091552 VIAN .00 .00 .00 .000 .250 .300 $270,992.00 N
600091565 MULLIN .00 .00 .00 .000 .250 .300 $295,000.00 N
600091567 MILLER .00 .00 .00 .000 .250 .300 $325,000.00 N
600091574 GREY .00 .00 .00 .000 .250 .300 $600,000.00 N
600094180 TROMPETE .00 .00 .00 .000 .250 .300 $576,000.00 N
600103410 Bellew $405,000.00 N
600103411 Meyveci $345,000.00 N
600103412 Sommi $425,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 38
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103413 Jackson 5 Bellman Court Kingsville MD 21087 $215,115.55
600103414 Elliott 2325 Ne Rodney Avenue Portland OR 97212 $229,478.46
600103415 Kiang 1220 Patton Court San Marino CA 91108 $1,885,000.00
600103416 Macgregor 5595 Martingale Circle Paso Robles CA 93446 $307,635.01
600103417 Kim 81 F-9 Schaffer Road Alpine NJ 07620 $2,198,701.12
600103418 Leitenberger 30 Beach Hill Road Pleasantville NY 10570 $321,909.75
600103419 Saunders 1359 Via Aracena Camarillo CA 93010 $374,754.70
600103420 Sackar 709 Mountain Villiage Blv Telluride CO 81435 $2,498,405.83
600103421 Bahou 22921 Bergantin Mission Viejo CA 92692 $299,596.08
600103422 Miller 7900 Castle Pines Avenue Las Vegas NV 89113 $275,454.71
600103423 Gavin 1981 West Evergreen Chicago IL 60622 $268,672.92
600103424 Shatto 976 Hymettus Avenue Encinitas CA 92024 $281,021.31
600103425 Harms 3934 Foothill Road Carpinteria CA 93013 $419,448.66
600103426 Hoffman 18 Fairfield Terrace Short Hills NJ 07078 $399,538.04
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103413 Jackson 8.625 .250 8.375 .0400 8.335 09/01/2027
600103414 Elliott 8.875 .250 8.625 .0400 8.585 07/01/2027
600103415 Kiang 8.375 .250 8.125 .0400 8.085 11/01/2027
600103416 Macgregor 8.625 .250 8.375 .0400 8.335 10/01/2027
600103417 Kim 8.625 .250 8.375 .0400 8.335 10/01/2027
600103418 Leitenberger 8.500 .250 8.250 .0400 8.210 09/01/2027
600103419 Saunders 8.125 .250 7.875 .0400 7.835 10/01/2027
600103420 Sackar 8.250 .250 8.000 .0400 7.960 10/01/2027
600103421 Bahou 8.000 .250 7.750 .0400 7.710 09/01/2027
600103422 Miller 8.125 .250 7.875 .0400 7.835 09/01/2027
600103423 Gavin 8.500 .250 8.250 .0400 8.210 09/01/2027
600103424 Shatto 8.000 .250 7.750 .0400 7.710 10/01/2027
600103425 Harms 8.125 .250 7.875 .0400 7.835 10/01/2027
600103426 Hoffman 8.750 .250 8.500 .0400 8.460 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103413 Jackson 254277 $1,676.14 11/01/1997 360
600103414 Elliott 256515 $1,829.99 11/01/1997 360
600103415 Kiang 256627 ********* 11/01/1997 360
600103416 Macgregor 256980 $2,395.59 11/01/1997 360
600103417 Kim 257301 ********* 11/01/1997 360
600103418 Leitenberger 258637 $2,479.74 11/01/1997 360
600103419 Saunders 258672 $2,784.36 11/01/1997 360
600103420 Sackar 259026 ********* 11/01/1997 360
600103421 Bahou 259067 $2,201.29 11/01/1997 360
600103422 Miller 259768 $2,049.29 11/01/1997 360
600103423 Gavin 260026 $2,068.38 11/01/1997 360
600103424 Shatto 260463 $2,063.42 11/01/1997 360
600103425 Harms 260895 $3,118.49 11/01/1997 360
600103426 Hoffman 261378 $3,146.81 11/01/1997 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>
600103413 Jackson $275,000.00 N
600103414 Elliott $310,000.00 N
600103415 Kiang $2,900,000.00 N
600103416 Macgregor $440,000.00 N
600103417 Kim $5,200,000.00 N
600103418 Leitenberger $430,000.00 N
600103419 Saunders $625,000.00 N
600103420 Sackar $3,500,000.00 N
600103421 Bahou $537,000.00 N
600103422 Miller $495,000.00 N
600103423 Gavin $445,000.00 N
600103424 Shatto $375,000.00 N
600103425 Harms $540,000.00 N
600103426 Hoffman $535,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 39
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103427 Naumann 106 West 725 North Lindon UT 84042 $259,658.71
600103428 Freitas 1038 Camino Ricardo San Jose CA 95125 $391,984.76
600103430 Falvey 338 Avenue Portola El Granada CA 94018 $220,980.99
600103431 Aquino 915-917 Haight Street San Francisco CA 94117 $393,767.39
600103432 Sweetser I I I 225 South Thurston Avenue Los Angeles CA 90049 $422,000.00
600103433 Brown 1009 Washington Avenue Pelham NY 10803 $250,106.02
600103434 Wheelwright 1421 South 280 East Orem UT 84058 $232,605.23
600103435 Fooks 20245 N W Clark Road Portland OR 97231 $296,250.00
600103436 Eliasberg 3 Standford Road Wellesley MA 02181 $430,961.71
600103437 Karapetian 4801 Los Feliz Boulevard Los Angeles CA 90027 $978,838.66
600103438 Juniper 801 The Alameda Berkeley CA 94707 $234,868.25
600103439 Clark 1827-1829 East Jewell Ave Denver CO 80210 $238,238.48
600103440 Juszczak 15240 North Clubgate Driv Scottsdale AZ 85254 $223,734.55
600103441 La Fountain 625 East Palm Drive Glendora CA 91741 $379,525.97
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103427 Naumann 8.125 .250 7.875 .0400 7.835 09/01/2027
600103428 Freitas 8.125 .250 7.875 .0400 7.835 09/01/2027
600103430 Falvey 8.500 .250 8.250 .0400 8.210 10/01/2027
600103431 Aquino 8.625 .250 8.375 .0400 8.335 10/01/2027
600103432 Sweetser I I I 7.500 .250 7.250 .0400 7.210 11/01/2027
600103433 Brown 8.750 .250 8.500 .0400 8.460 10/01/2027
600103434 Wheelwright 8.875 .250 8.625 .0400 8.585 09/01/2027
600103435 Fooks 8.500 .250 8.250 .0400 8.210 11/01/2027
600103436 Eliasberg 8.375 .250 8.125 .0400 8.085 10/01/2027
600103437 Karapetian 8.625 .250 8.375 .0400 8.335 09/01/2027
600103438 Juniper 8.875 .250 8.625 .0400 8.585 10/01/2027
600103439 Clark 9.000 .250 8.750 .0400 8.710 09/01/2027
600103440 Juszczak 8.625 .250 8.375 .0400 8.335 10/01/2027
600103441 La Fountain 8.375 .250 8.125 .0400 8.085 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103427 Naumann 261497 $1,930.49 11/01/1997 360
600103428 Freitas 261541 $2,914.30 11/01/1997 360
600103430 Falvey 261547 $1,701.22 11/01/1997 360
600103431 Aquino 262056 $3,064.49 11/01/1997 360
600103432 Sweetser I I I 262103 $2,950.69 11/01/1997 360
600103433 Brown 262214 $1,968.72 11/01/1997 360
600103434 Wheelwright 262470 $1,853.85 7 11/01/1997 360
600103435 Fooks 262806 $2,277.91 11/01/1997 360
600103436 Eliasberg 262953 $3,279.72 11/01/1997 360
600103437 Karapetian 263006 $7,622.34 11/01/1997 360
600103438 Juniper 263038 $1,869.77 11/01/1997 360
600103439 Clark 263196 $1,919.02 7 11/01/1997 360
600103440 Juszczak 263346 $1,742.25 11/01/1997 360
600103441 La Fountain 263456 $2,888.27 11/01/1997 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>
600103427 Naumann $335,000.00 N
600103428 Freitas $531,000.00 N
600103430 Falvey $310,000.00 N
600103431 Aquino $570,000.00 N
600103432 Sweetser I I I $527,500.00 N
600103433 Brown $385,000.00 N
600103434 Wheelwright $259,900.00 N
600103435 Fooks $398,000.00 N
600103436 Eliasberg $631,500.00 N
600103437 Karapetian $2,200,000.00 N
600103438 Juniper $313,500.00 N
600103439 Clark $265,000.00 N
600103440 Juszczak $280,000.00 N
600103441 La Fountain $475,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 40
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103442 Steele 14980 Heather Drive San Jose CA 95124 $396,209.20
600103443 Nedjat - Haiem 433 9th Street Santa Monica CA 90402 $499,655.90
600103444 Mitchell 6022 West Robin Lane Glendale AZ 85310 $224,726.41
600103445 Moskowitz 431 Countyview Drive Mill Valley CA 94941 $387,515.99
600103446 Molesky 25 Green Road Shavertown PA 18708 $251,839.30
600103447 Taylor 10 Summerwind Court #98 Newport Beach CA 92663 $258,416.32
600103448 Manino Jr 3988 Branson Drive San Mateo CA 94403 $259,667.28
600103449 Mydlarz 9858 Erica Court Boca Raton FL 33496 $239,861.92
600103450 Teitelbaum 34-15 9th Street Long Island Cit NY 11106 $292,500.00
600103451 Wilson 6915 Brooks Road Highland Highland MD 20777 $290,627.60
600103452 Roche 69 Evert Street Huntington Stat NY 11746 $229,871.06
600103453 Wirch 18421 Paseo Olivos Saratoga CA 95070 $216,742.86
600103454 Grand 145 West 79th Street New York NY 10024 $234,857.63
600103455 Spino 4531 Tam O Shanter Drive Thousand Oaks CA 91362 $296,795.60
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103442 Steele 7.500 .250 7.250 .0400 7.210 09/01/2027
600103443 Nedjat - Haiem 7.875 .250 7.625 .0400 7.585 10/01/2027
600103444 Mitchell 8.500 .250 8.250 .0400 8.210 10/01/2027
600103445 Moskowitz 8.375 .250 8.125 .0400 8.085 09/01/2027
600103446 Molesky 8.250 .250 8.000 .0400 7.960 10/01/2027
600103447 Taylor 9.000 .250 8.750 .0400 8.710 09/01/2027
600103448 Manino Jr 8.250 .250 8.000 .0400 7.960 09/01/2027
600103449 Mydlarz 8.750 .250 8.500 .0400 8.460 10/01/2027
600103450 Teitelbaum 8.875 .250 8.625 .0400 8.585 11/01/2027
600103451 Wilson 8.250 .250 8.000 .0400 7.960 09/01/2027
600103452 Roche 8.875 .250 8.625 .0400 8.585 10/01/2027
600103453 Wirch 8.625 .250 8.375 .0400 8.335 09/01/2027
600103454 Grand 8.500 .250 8.250 .0400 8.210 10/01/2027
600103455 Spino 7.875 .250 7.625 .0400 7.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103442 Steele 263536 $2,774.48 11/01/1997 360
600103443 Nedjat - Haiem 263730 $3,625.35 11/01/1997 360
600103444 Mitchell 263981 $1,730.06 7 11/01/1997 360
600103445 Moskowitz 264179 $2,949.08 11/01/1997 360
600103446 Molesky 264519 $1,893.20 11/01/1997 360
600103447 Taylor 264520 $2,081.56 11/01/1997 360
600103448 Manino Jr 264614 $1,953.29 11/01/1997 360
600103449 Mydlarz 264731 $1,888.08 11/01/1997 360
600103450 Teitelbaum 264855 $2,327.26 7 11/01/1997 360
600103451 Wilson 265077 $2,186.19 11/01/1997 360
600103452 Roche 265195 $1,829.98 11/01/1997 360
600103453 Wirch 265316 $1,687.80 11/01/1997 360
600103454 Grand 265723 $1,806.95 11/01/1997 360
600103455 Spino 265738 $2,153.46 11/01/1997 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>
600103442 Steele $496,000.00 N
600103443 Nedjat - Haiem $770,000.00 N
600103444 Mitchell $250,000.00 N
600103445 Moskowitz $485,000.00 N
600103446 Molesky $360,000.00 N
600103447 Taylor $345,000.00 N
600103448 Manino Jr $325,000.00 N
600103449 Mydlarz $310,000.00 N
600103450 Teitelbaum $325,000.00 N
600103451 Wilson $470,000.00 N
600103452 Roche $303,000.00 N
600103453 Wirch $430,000.00 N
600103454 Grand $385,000.00 N
600103455 Spino $408,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 41
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103456 DeMattei 5413 Amberdale Way Antioch CA 94509 $283,832.33
600103457 Demattei 5409 Amberdale Way Antioch CA 94509 $307,818.16
600103458 Horn 328-330 Ximeno Avenue Long Beach CA 90814 $249,688.14
600103459 Holman, Jr. 519 East 13th Street Loveland CO 80537 $217,221.65
600103460 Martelli 167 Whitewood Drive Massapequa Park NY 11762 $351,781.21
600103461 Stivers 67 Redwood Way Menlo Park CA 94027 $384,794.39
600103462 Bane 604 Northeast 14th Avenue Fort Lauderdale FL 33301 $237,695.42
600103463 Lindquist 6921 North Saint Andrews Tucson AZ 85718 $399,763.84
600103464 Denomie 824 826 Castro Street San Francisco CA 94114 $449,500.00
600103465 Patamakanthin 1533 Rancho Hills Dr Chino Hills CA 91709 $251,255.37
600103466 Busch 2346 Round Top Drive Honolulu HI 96822 $419,710.96
600103467 Winters 13342 Galewood Street Sherman Oaks CA 91423 $431,250.00
600103468 Ghalamfarsa Lot 4 Waiwai Pa'a Street Holualoa HI 96740 $395,000.00
600103469 Abbott, I V 8178 Moller Ranch Drive Pleasanton CA 94588 $339,399.51
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103456 DeMattei 8.625 .250 8.375 .0400 8.335 10/01/2027
600103457 Demattei 8.625 .250 8.375 .0400 8.335 10/01/2027
600103458 Horn 8.375 .250 8.125 .0400 8.085 10/01/2027
600103459 Holman, Jr. 8.250 .250 8.000 .0400 7.960 09/01/2027
600103460 Martelli 8.375 .250 8.125 .0400 8.085 10/01/2027
600103461 Stivers 8.500 .250 8.250 .0400 8.210 09/01/2027
600103462 Bane 8.250 .250 8.000 .0400 7.960 10/01/2027
600103463 Lindquist 8.625 .250 8.375 .0400 8.335 10/01/2027
600103464 Denomie 8.375 .250 8.125 .0400 8.085 11/01/2027
600103465 Patamakanthin 8.750 .250 8.500 .0400 8.460 10/01/2027
600103466 Busch 7.875 .250 7.625 .0400 7.585 10/01/2027
600103467 Winters 8.250 .250 8.000 .0400 7.960 11/01/2027
600103468 Ghalamfarsa 8.500 .250 8.250 .0400 8.210 11/01/2027
600103469 Abbott, I V 8.625 .250 8.375 .0400 8.335 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103456 DeMattei 265945 $2,208.92 11/01/1997 360
600103457 Demattei 265952 $2,395.59 11/01/1997 360
600103458 Horn 265961 $1,900.18 11/01/1997 360
600103459 Holman, Jr. 266065 $1,634.01 11/01/1997 360
600103460 Martelli 266110 $2,675.46 11/01/1997 360
600103461 Stivers 266219 $2,964.17 11/01/1997 360
600103462 Bane 266227 $1,788.02 11/01/1997 360
600103463 Lindquist 266246 $3,111.16 11/01/1997 360
600103464 Denomie 266286 $3,416.52 11/01/1997 360
600103465 Patamakanthin 266289 $1,977.76 11/01/1997 360
600103466 Busch 266306 $3,045.29 11/01/1997 360
600103467 Winters 266379 $3,239.84 11/01/1997 360
600103468 Ghalamfarsa 266405 $3,037.21 11/01/1997 360
600103469 Abbott, I V 266645 $2,641.37 11/01/1997 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>
600103456 DeMattei $355,000.00 N
600103457 Demattei $385,000.00 N
600103458 Horn $395,000.00 N
600103459 Holman, Jr. $290,000.00 N
600103460 Martelli $440,000.00 N
600103461 Stivers $765,000.00 N
600103462 Bane $340,000.00 N
600103463 Lindquist $550,000.00 N
600103464 Denomie $700,000.00 N
600103465 Patamakanthin $335,200.00 N
600103466 Busch $600,000.00 N
600103467 Winters $575,000.00 N
600103468 Ghalamfarsa $580,000.00 N
600103469 Abbott, I V $424,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 42
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103470 Saffold 1401 Kenwood Road Santa Barbara CA 93109 $225,869.98
600103471 Wills, IV 728 Sopris Avenue Crested Butte CO 81224 $275,856.92
600103472 Akyurek 19107 Wells Drive Tarzana CA 91356 $335,570.01
600103473 Grieser 6045 Obenchain Road Laporte CO 80535 $222,864.90
600103474 Rabin 4172 Murrieta Avenue Sherman Oaks CA 91423 $368,551.34
600103475 Nodland 6 First Street Excelsior MN 55331 $215,855.07
600103476 Martin 1540 York Street San Francisco CA 94110 $326,536.92
600103477 Kowalczyk 83-85 Ripley Street Newton MA 02159 $225,139.68
600103478 Carlisle 5 Lakeway Alexander City AL 35010 $514,104.60
600103479 Schryvers 180 Vista Drive Arroyo Grande CA 93420 $395,734.29
600103480 Kaufman 1556 East 8th Street Brooklyn NY 11230 $342,000.00
600103481 Corwell 10132 Colebrook Avenue Potomac MD 20854 $307,341.71
600103482 Satterwhite 38845 Calle De Campanero Murrieta CA 92562 $499,664.50
600103483 Dornbusch 6015 Farmington Avenue S Delano MN 55328 $222,628.98
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103470 Saffold 8.750 .250 8.500 .0400 8.460 10/01/2027
600103471 Wills, IV 9.250 .250 9.000 .0400 8.960 10/01/2027
600103472 Akyurek 8.250 .250 8.000 .0400 7.960 10/01/2027
600103473 Grieser 8.500 .250 8.250 .0400 8.210 10/01/2027
600103474 Rabin 8.500 .250 8.250 .0400 8.210 09/01/2027
600103475 Nodland 8.000 .250 7.750 .0400 7.710 10/01/2027
600103476 Martin 7.750 .250 7.500 .0400 7.460 09/01/2027
600103477 Kowalczyk 8.750 .250 8.500 .0400 8.460 09/01/2027
600103478 Carlisle 8.750 .250 8.500 .0400 8.460 09/01/2027
600103479 Schryvers 8.000 .250 7.750 .0400 7.710 10/01/2027
600103480 Kaufman 8.875 .250 8.625 .0400 8.585 11/01/2027
600103481 Corwell 7.500 .250 7.250 .0400 7.210 10/01/2027
600103482 Satterwhite 8.000 .250 7.750 .0400 7.710 10/01/2027
600103483 Dornbusch 8.500 .250 8.250 .0400 8.210 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103470 Saffold 266720 $1,777.94 11/01/1997 360
600103471 Wills, IV 266738 $2,270.58 11/01/1997 360
600103472 Akyurek 266757 $2,524.26 11/01/1997 360
600103473 Grieser 266819 $1,714.68 11/01/1997 360
600103474 Rabin 267005 $2,837.29 11/01/1997 360
600103475 Nodland 267065 $1,584.93 11/01/1997 360
600103476 Martin 267132 $2,342.67 11/01/1997 360
600103477 Kowalczyk 267180 $1,773.23 11/01/1997 360
600103478 Carlisle 267206 $4,051.51 11/01/1997 360
600103479 Schryvers 267347 $2,905.71 11/01/1997 360
600103480 Kaufman 267443 $2,721.11 11/01/1997 360
600103481 Corwell 267615 $2,152.18 11/01/1997 360
600103482 Satterwhite 267694 $3,668.83 11/01/1997 360
600103483 Dornbusch 267959 $1,713.91 11/01/1997 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>
600103470 Saffold $320,000.00 N
600103471 Wills, IV $345,000.00 N
600103472 Akyurek $420,000.00 N
600103473 Grieser $400,000.00 N
600103474 Rabin $492,000.00 N
600103475 Nodland $270,000.00 N
600103476 Martin $475,000.00 N
600103477 Kowalczyk $322,000.00 N
600103478 Carlisle $1,200,000.00 N
600103479 Schryvers $660,000.00 N
600103480 Kaufman $490,000.00 N
600103481 Corwell $416,000.00 N
600103482 Satterwhite $700,000.00 N
600103483 Dornbusch $318,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 43
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103484 Chopra 2432 San Carlos Avenue San Carlos CA 94070 $235,864.22
600103485 Pearson 2286 Laurelwood Drive Thousand Oaks CA 91362 $298,823.47
600103486 Powell 0104 Wooden Deer Road Carbondale CO 81625 $439,733.45
600103487 Horwitz 16 San Sebastian Newport Beach CA 92660 $649,168.17
600103488 Gumpfer 246 Hualani Street Kailua HI 96734 $242,860.20
600103489 Shenkel 5608 Marbury Drive Goleta CA 93117 $245,850.97
600103490 Fine 311 Clemente Avenue Avalon CA 90704 $284,644.47
600103491 Osorio 64-66 14th Street San Francisco CA 94103 $259,838.39
600103492 Glanville 2533 N E Tillamook Street Portland OR 97212 $247,357.60
600103494 Mardirosian 2714 Nichols Canyon Road Los Angeles CA 90046 $399,525.98
600103495 Baldacchino 100 Jumper Court Folsom CA 95630 $215,750.55
600103496 Saless 9374 Sierra Mar Drive West Hollywood CA 90069 $314,596.89
600103497 Rubinoff 105 Anchorage Close The Sea Ranch CA 95497 $375,754.04
600103498 Kastner 5019 N. W. 127th Street Vancouver WA 98685 $237,695.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103484 Chopra 8.750 .250 8.500 .0400 8.460 10/01/2027
600103485 Pearson 8.625 .250 8.375 .0400 8.335 10/01/2027
600103486 Powell 8.500 .250 8.250 .0400 8.210 10/01/2027
600103487 Horwitz 8.250 .250 8.000 .0400 7.960 10/01/2027
600103488 Gumpfer 8.750 .250 8.500 .0400 8.460 10/01/2027
600103489 Shenkel 8.500 .250 8.250 .0400 8.210 10/01/2027
600103490 Fine 8.375 .250 8.125 .0400 8.085 10/01/2027
600103491 Osorio 8.375 .250 8.125 .0400 8.085 10/01/2027
600103492 Glanville 8.750 .250 8.500 .0400 8.460 10/01/2027
600103494 Mardirosian 8.625 .250 8.375 .0400 8.335 10/01/2027
600103495 Baldacchino 8.750 .250 8.500 .0400 8.460 10/01/2027
600103496 Saless 8.250 .250 8.000 .0400 7.960 10/01/2027
600103497 Rubinoff 8.125 .250 7.875 .0400 7.835 10/01/2027
600103498 Kastner 8.250 .250 8.000 .0400 7.960 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103484 Chopra 268008 $1,856.61 11/01/1997 360
600103485 Pearson 268035 $2,325.59 11/01/1997 360
600103486 Powell 268054 $3,383.22 11/01/1997 360
600103487 Horwitz 268064 $4,883.24 11/01/1997 360
600103488 Gumpfer 268169 $1,911.68 11/01/1997 360
600103489 Shenkel 268221 $1,891.53 11/01/1997 360
600103490 Fine 268330 $2,166.21 11/01/1997 360
600103491 Osorio 268341 $1,976.19 11/01/1997 360
600103492 Glanville 268515 $1,947.09 11/01/1997 360
600103494 Mardirosian 268769 $3,111.16 11/01/1997 360
600103495 Baldacchino 268829 $1,699.27 11/01/1997 360
600103496 Saless 268847 $2,366.49 11/01/1997 360
600103497 Rubinoff 268875 $2,791.79 11/01/1997 360
600103498 Kastner 268912 $1,788.01 11/01/1997 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>
600103484 Chopra $295,000.00 N
600103485 Pearson $380,000.00 N
600103486 Powell $800,000.00 N
600103487 Horwitz $894,000.00 N
600103488 Gumpfer $365,000.00 N
600103489 Shenkel $310,000.00 N
600103490 Fine $380,000.00 N
600103491 Osorio $355,000.00 N
600103492 Glanville $330,000.00 N
600103494 Mardirosian $620,000.00 N
600103495 Baldacchino $270,000.00 N
600103496 Saless $456,000.00 N
600103497 Rubinoff $470,000.00 N
600103498 Kastner $327,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 44
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103499 Lu 3126 Brokaw Street Honolulu HI 96815 $234,846.28
600103500 Lamping 3409 Paseo Del Campo Palos Verdes Pe CA 90274 $407,765.26
600103501 Guido 7224 14th Ave Brooklyn NY 11228 $330,000.00
600103502 Singh 2316 Rancho Bel Air Las Vegas NV 89107 $399,738.34
600103503 Carlino 79 Dover Street Brooklyn NY 11235 $275,000.00
600103504 Steward 1265 Jasmine Avenue Tarpon Springs FL 34689 $395,753.86
600103505 Nannini 2664 Howard Avenue San Carlos CA 94070 $280,000.00
600103506 Reed 25265 Malibu Road Malibu CA 90265 $734,506.83
600103507 Chin 951 Agusta Drive Moraga CA 94556 $559,283.37
600103508 Yu 8429 Beach Circle Cypress CA 90630 $384,531.87
600103509 Kadash 610 South Van Ness Avenue Los Angeles CA 90005 $374,520.11
600103510 Davis 24 Beechwood Way Scarborough NY 10510 $311,610.79
600103511 Champol 5736 Lokelani Road Kapaa HI 96746 $274,610.57
600103512 Tomasello 831 Bowen Road Elma NY 14059 $374,250.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103499 Lu 8.125 .250 7.875 .0400 7.835 10/01/2027
600103500 Lamping 8.750 .250 8.500 .0400 8.460 10/01/2027
600103501 Guido 8.750 .250 8.500 .0400 8.460 11/01/2027
600103502 Singh 8.125 .250 7.875 .0400 7.835 10/01/2027
600103503 Carlino 8.125 .250 7.875 .0400 7.835 11/01/2027
600103504 Steward 8.375 .250 8.125 .0400 8.085 10/01/2027
600103505 Nannini 8.500 .250 8.250 .0400 8.210 11/01/2027
600103506 Reed 8.000 .250 7.750 .0400 7.710 10/01/2027
600103507 Chin 8.250 .250 8.000 .0400 7.960 09/01/2027
600103508 Yu 8.500 .250 8.250 .0400 8.210 10/01/2027
600103509 Kadash 8.250 .250 8.000 .0400 7.960 10/01/2027
600103510 Davis 8.375 .250 8.125 .0400 8.085 10/01/2027
600103511 Champol 7.750 .250 7.500 .0400 7.460 10/01/2027
600103512 Tomasello 9.000 .250 8.750 .0400 8.710 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103499 Lu 269013 $1,744.87 11/01/1997 360
600103500 Lamping 269310 $3,209.74 11/01/1997 360
600103501 Guido 269343 $2,596.11 11/01/1997 360
600103502 Singh 269476 $2,969.99 11/01/1997 360
600103503 Carlino 269653 $2,041.87 11/01/1997 360
600103504 Steward 269715 $3,009.89 11/01/1997 360
600103505 Nannini 269727 $2,152.96 11/01/1997 360
600103506 Reed 269888 $5,393.17 11/01/1997 360
600103507 Chin 270010 $4,207.09 11/01/1997 360
600103508 Yu 270033 $2,960.32 11/01/1997 360
600103509 Kadash 270042 $2,817.25 11/01/1997 360
600103510 Davis 270056 $2,371.43 11/01/1997 360
600103511 Champol 270086 $1,970.13 11/01/1997 360
600103512 Tomasello 270110 $3,011.31 11/01/1997 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>
600103499 Lu $330,000.00 N
600103500 Lamping $570,000.00 N
600103501 Guido $505,000.00 N
600103502 Singh $735,000.00 N
600103503 Carlino $540,000.00 N
600103504 Steward $520,000.00 N
600103505 Nannini $410,000.00 N
600103506 Reed $1,100,000.00 N
600103507 Chin $790,000.00 N
600103508 Yu $500,000.00 N
600103509 Kadash $580,000.00 N
600103510 Davis $390,000.00 N
600103511 Champol $426,000.00 N
600103512 Tomasello $499,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 45
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103513 Hilton 9950 Fuerte Drive La Mesa CA 91941 $283,827.96
600103514 Tinlin 213 East Quarterhorse Lan Camp Verde AZ 86322 $266,500.00
600103515 Fulcher 31351 Via Santa Maria San Juan Capist CA 92675 $340,000.00
600103516 Caddell 506 W. Richardson Ln Glendora CA 91741 $235,849.51
600103517 Baird 3540 East Hidden Meadows Heber City UT 84032 $398,182.65
600103518 Frazier 325 Valley View Dr. Oak View CA 93022 $331,803.99
600103519 Pitcher 302 East 39th Avenue San Mateo CA 94403 $237,180.22
600103520 Bull 45640 Peak To Peak Highwa Ward CO 80481 $223,857.16
600103521 Koong 15900 Meagher Street Fountain Valley CA 92708 $244,686.48
600103522 Van Niekerk 3865 Sunset Hills Drive S Turner OR 97392 $331,500.00
600103523 Bouvier Jr 29 Renz Road Mill Valley CA 94941 $382,046.72
600103524 Picanco 47-544 Hakuhale Street Kaneohe HI 96744 $349,793.37
600103525 Mac Donell 14617 Chester Avenue Saratoga CA 95070 $999,257.85
600103526 Risley 1091 South Oak Knoll Aven Pasadena CA 91106 $405,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103513 Hilton 8.500 .250 8.250 .0400 8.210 10/01/2027
600103514 Tinlin 8.375 .250 8.125 .0400 8.085 11/01/2027
600103515 Fulcher 7.625 .250 7.375 .0400 7.335 11/01/2027
600103516 Caddell 8.250 .250 8.000 .0400 7.960 10/01/2027
600103517 Baird 8.000 .250 7.750 .0400 7.710 10/01/2027
600103518 Frazier 8.625 .250 8.375 .0400 8.335 10/01/2027
600103519 Pitcher 8.000 .250 7.750 .0400 7.710 10/01/2027
600103520 Bull 8.250 .250 8.000 .0400 7.960 10/01/2027
600103521 Koong 8.250 .250 8.000 .0400 7.960 09/01/2027
600103522 Van Niekerk 8.375 .250 8.125 .0400 8.085 11/01/2027
600103523 Bouvier Jr 8.625 .250 8.375 .0400 8.335 10/01/2027
600103524 Picanco 8.625 .250 8.375 .0400 8.335 10/01/2027
600103525 Mac Donell 7.500 .250 7.250 .0400 7.210 10/01/2027
600103526 Risley 9.250 .250 9.000 .0400 8.960 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103513 Hilton 270115 $2,183.71 11/01/1997 360
600103514 Tinlin 270195 $2,025.59 11/01/1997 360
600103515 Fulcher 270210 $2,406.50 11/01/1997 360
600103516 Caddell 270276 $1,772.99 11/01/1997 360
600103517 Baird 270372 $2,923.68 11/01/1997 360
600103518 Frazier 270505 $2,582.26 11/01/1997 360
600103519 Pitcher 270653 $1,742.69 11/01/1997 360
600103520 Bull 270727 $1,682.84 11/01/1997 360
600103521 Koong 271094 $1,840.60 11/01/1997 360
600103522 Van Niekerk 271136 $2,519.64 11/01/1997 360
600103523 Bouvier Jr 271316 $2,975.05 11/01/1997 360
600103524 Picanco 271317 $2,722.26 11/01/1997 360
600103525 Mac Donell 271342 $6,992.15 11/01/1997 360
600103526 Risley 271635 $3,331.84 11/01/1997 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>
600103513 Hilton $355,000.00 N
600103514 Tinlin $410,000.00 N
600103515 Fulcher $750,000.00 N
600103516 Caddell $295,000.00 N
600103517 Baird $613,000.00 N
600103518 Frazier $415,000.00 N
600103519 Pitcher $297,500.00 N
600103520 Bull $310,000.00 N
600103521 Koong $310,000.00 N
600103522 Van Niekerk $540,000.00 N
600103523 Bouvier Jr $510,000.00 N
600103524 Picanco $495,000.00 N
600103525 Mac Donell $1,750,000.00 N
600103526 Risley $540,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 46
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103527 Mahroukian 10160 Three Arches Circle Villa Park CA 92861 $297,319.77
600103528 Chen 241 South Catalina Avenue Pasadena CA 91106 $231,710.59
600103529 Kumm 32 Clubside Drive Woodmere NY 11598 $286,552.15
600103530 Ermann 2205 Glancy Court Carmichael CA 95608 $436,714.14
600103531 Baxa 393 Aulii Drive Pukalani HI 96768 $454,731.37
600103532 Glassburn 1005 3rd Avenue Longmont CO 80501 $280,000.00
600103533 Newton 373 East 3575 North Ogden UT 84414 $224,000.00
600103534 Miller 37342 Mesa Road Temecula CA 92592 $219,859.71
600103535 Perez 221 Juanita Way San Francisco CA 94127 $258,750.00
600103536 Rhodes Jr 10480 Sw Gardner Court Tualatin OR 97062 $290,617.99
600103537 Kovacs 2505 Lambert Drive Pasadena CA 91107 $251,858.72
600103538 Mucciga 5274 Umbrella Pool Road Sanibel FL 33957 $375,000.00
600103539 Krajian 505 Dean Street Unit 7 Aspen CO 81611 $318,561.81
600103540 Kelch 740 Mill Street Shepherdstown WV 25443 $265,692.79
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103527 Mahroukian 8.500 .250 8.250 .0400 8.210 10/01/2027
600103528 Chen 8.375 .250 8.125 .0400 8.085 10/01/2027
600103529 Kumm 8.875 .250 8.625 .0400 8.585 10/01/2027
600103530 Ermann 8.125 .250 7.875 .0400 7.835 10/01/2027
600103531 Baxa 8.625 .250 8.375 .0400 8.335 10/01/2027
600103532 Glassburn 8.500 .250 8.250 .0400 8.210 11/01/2027
600103533 Newton 8.625 .250 8.375 .0400 8.335 11/01/2027
600103534 Miller 8.250 .250 8.000 .0400 7.960 10/01/2027
600103535 Perez 8.125 .250 7.875 .0400 7.835 11/01/2027
600103536 Rhodes Jr 8.125 .250 7.875 .0400 7.835 10/01/2027
600103537 Kovacs 8.875 .250 8.625 .0400 8.585 10/01/2027
600103538 Mucciga 8.500 .250 8.250 .0400 8.210 11/01/2027
600103539 Krajian 8.625 .250 8.375 .0400 8.335 10/01/2027
600103540 Kelch 8.750 .250 8.500 .0400 8.460 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103527 Mahroukian 271661 $2,287.52 11/01/1997 360
600103528 Chen 271867 $1,763.37 11/01/1997 360
600103529 Kumm 272090 $2,282.51 11/01/1997 360
600103530 Ermann 272099 $3,244.71 11/01/1997 360
600103531 Baxa 272269 $3,538.94 11/01/1997 360
600103532 Glassburn 272289 $2,152.96 11/01/1997 360
600103533 Newton 272316 $1,742.25 11/01/1997 360
600103534 Miller 272337 $1,652.79 11/01/1997 360
600103535 Perez 272350 $1,921.21 11/01/1997 360
600103536 Rhodes Jr 272556 $2,160.67 11/01/1997 360
600103537 Kovacs 272657 $2,005.03 11/01/1997 360
600103538 Mucciga 272823 $2,883.43 11/01/1997 360
600103539 Krajian 272864 $2,479.21 11/01/1997 360
600103540 Kelch 273017 $2,092.63 11/01/1997 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>
600103527 Mahroukian $425,000.00 N
600103528 Chen $290,000.00 N
600103529 Kumm $382,500.00 N
600103530 Ermann $560,000.00 N
600103531 Baxa $700,000.00 N
600103532 Glassburn $399,000.00 N
600103533 Newton $280,000.00 N
600103534 Miller $275,000.00 N
600103535 Perez $345,000.00 N
600103536 Rhodes Jr $429,000.00 N
600103537 Kovacs $360,000.00 N
600103538 Mucciga $500,000.00 N
600103539 Krajian $425,000.00 N
600103540 Kelch $332,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 47
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103541 Rivetti 13214 South Bear Hollow D Draper UT 84020 $229,727.44
600103542 Mckinney 5490 Smokey Mountain Way Yorba Linda CA 92887 $357,659.86
600103543 Donaldson 0169 Summit Country Road Breckenridge CO 80424 $270,000.00
600103544 Raissi 14360 Paul Avenue Saratoga CA 95070 $249,852.41
600103545 Bond 3064 Rodeo Ln Livermore CA 94550 $251,677.52
600103546 Koos 820 Poinsettia Way Santa Barbara CA 93105 $269,500.00
600103547 Fricke 1255 Castle Peak Ranch Ro Eagle CO 81631 $425,000.00
600103548 Merrin 5343 Silver Point Way San Jose CA 95138 $243,000.00
600103549 Tran 9521 Newfame Circle Fountain Valley CA 92708 $239,838.97
600103550 Caldwell Rt. 5 Boyd Road Laurens SC 29360 $220,000.00
600103551 Olberz 4630 Stellrecht Circle Huntington Beac CA 92649 $227,000.00
600103552 Mellinger 5033 Dantes View Drive Calabasas CA 91301 $274,580.20
600103553 Anderson 152 Calle De La Ventana Carmel Valley CA 93924 $250,071.31
600103554 Beckman 1379-1381 27th Avenue San Francisco CA 94122 $244,709.68
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103541 Rivetti 8.625 .250 8.375 .0400 8.335 10/01/2027
600103542 Mckinney 8.000 .250 7.750 .0400 7.710 10/01/2027
600103543 Donaldson 7.750 .250 7.500 .0400 7.460 11/01/2027
600103544 Raissi 8.625 .250 8.375 .0400 8.335 10/01/2027
600103545 Bond 8.250 .250 8.000 .0400 7.960 09/01/2027
600103546 Koos 8.250 .250 8.000 .0400 7.960 11/01/2027
600103547 Fricke 8.000 .250 7.750 .0400 7.710 11/01/2027
600103548 Merrin 8.000 .250 7.750 .0400 7.710 11/01/2027
600103549 Tran 8.000 .250 7.750 .0400 7.710 10/01/2027
600103550 Caldwell 8.625 .250 8.375 .0400 8.335 11/01/2027
600103551 Olberz 8.000 .250 7.750 .0400 7.710 11/01/2027
600103552 Mellinger 7.375 .250 7.125 .0400 7.085 10/01/2027
600103553 Anderson 8.125 .250 7.875 .0400 7.835 09/01/2027
600103554 Beckman 8.625 .250 8.375 .0400 8.335 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103541 Rivetti 273033 $1,788.92 11/01/1997 360
600103542 Mckinney 273062 $2,626.14 11/01/1997 360
600103543 Donaldson 273151 $1,934.32 11/01/1997 360
600103544 Raissi 273226 $1,944.47 11/01/1997 360
600103545 Bond 273274 $1,893.19 11/01/1997 360
600103546 Koos 273350 $2,024.67 11/01/1997 360
600103547 Fricke 273381 $3,118.50 11/01/1997 360
600103548 Merrin 273384 $1,783.05 11/01/1997 360
600103549 Tran 273392 $1,761.03 11/01/1997 360
600103550 Caldwell 273399 $1,711.14 11/01/1997 360
600103551 Olberz 273430 $1,665.65 11/01/1997 360
600103552 Mellinger 273574 $1,899.36 11/01/1997 360
600103553 Anderson 273604 $1,859.21 11/01/1997 360
600103554 Beckman 273770 $1,905.58 11/01/1997 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>
600103541 Rivetti $311,000.00 N
600103542 Mckinney $447,881.00 N
600103543 Donaldson $520,000.00 N
600103544 Raissi $325,000.00 N
600103545 Bond $360,000.00 N
600103546 Koos $385,000.00 N
600103547 Fricke $725,000.00 N
600103548 Merrin $335,000.00 N
600103549 Tran $302,000.00 N
600103550 Caldwell $275,000.00 N
600103551 Olberz $480,000.00 N
600103552 Mellinger $385,000.00 N
600103553 Anderson $313,000.00 N
600103554 Beckman $385,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 48
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103555 Chon 29 Sugarloaf Terrace Alamo CA 94507 $441,904.20
600103556 Goedecke 12406 S.w. 55th Place Portland OR 97219 $302,612.25
600103557 Longacre 233 Highland Drive Aptos CA 95003 $367,765.34
600103558 Giardina 8654 E. Thoroughbred Trai Scottsdale AZ 85258 $243,475.69
600103559 Ramos 700 N. Mart Court Palatine IL 60067 $260,000.00
600103560 Kabaker 17 North Hill Court Oakland CA 94618 $295,000.00
600103561 Williamson 716 Monte Vista Lane Half Moon Bay CA 94019 $329,000.00
600103562 Bobb 78-261 Manukai Street #37 Kailua Kona HI 96740 $236,200.00
600103563 Chan 526 12th Avenue San Francisco CA 94118 $250,000.00
600103564 Gray 56-211 Kamehameha Highway Kahuku HI 96731 $360,000.00
600103565 Kurtz 11274 Sunshine Terrace Studio City CA 91604 $305,000.00
600103566 Thomas 256 Robbers Nest Breckenridge CO 80424 $463,700.00
600103567 Matarazzo 11140 Arco Drive Escondido CA 92026 $245,000.00
600103568 Lefkowitz 4 Split Tree Road Scarsdale NY 10583 $600,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103555 Chon 8.000 .250 7.750 .0400 7.710 09/01/2027
600103556 Goedecke 8.250 .250 8.000 .0400 7.960 10/01/2027
600103557 Longacre 8.250 .250 8.000 .0400 7.960 10/01/2027
600103558 Giardina 8.875 .250 8.625 .0400 8.585 10/01/2027
600103559 Ramos 8.125 .250 7.875 .0400 7.835 11/01/2027
600103560 Kabaker 7.875 .250 7.625 .0400 7.585 11/01/2027
600103561 Williamson 8.500 .250 8.250 .0400 8.210 11/01/2027
600103562 Bobb 8.500 .250 8.250 .0400 8.210 11/01/2027
600103563 Chan 7.500 .250 7.250 .0400 7.210 11/01/2027
600103564 Gray 8.750 .250 8.500 .0400 8.460 11/01/2027
600103565 Kurtz 8.500 .250 8.250 .0400 8.210 11/01/2027
600103566 Thomas 8.125 .250 7.875 .0400 7.835 11/01/2027
600103567 Matarazzo 8.750 .250 8.500 .0400 8.460 11/01/2027
600103568 Lefkowitz 8.625 .250 8.375 .0400 8.335 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103555 Chon 273775 $3,246.91 11/01/1997 360
600103556 Goedecke 273814 $2,276.34 11/01/1997 360
600103557 Longacre 273840 $2,764.66 11/01/1997 360
600103558 Giardina 274145 $1,939.38 11/01/1997 360
600103559 Ramos 274251 $1,930.50 11/01/1997 360
600103560 Kabaker 274257 $2,138.95 11/01/1997 360
600103561 Williamson 274259 $2,529.73 11/01/1997 360
600103562 Bobb 274499 $1,816.17 11/01/1997 360
600103563 Chan 274505 $1,748.04 11/01/1997 360
600103564 Gray 274520 $2,832.12 11/01/1997 360
600103565 Kurtz 274521 $2,345.19 11/01/1997 360
600103566 Thomas 274567 $3,442.96 11/01/1997 360
600103567 Matarazzo 274571 $1,927.42 11/01/1997 360
600103568 Lefkowitz 274657 $4,666.74 11/01/1997 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>
600103555 Chon $590,000.00 N
600103556 Goedecke $435,000.00 N
600103557 Longacre $460,000.00 N
600103558 Giardina $325,000.00 N
600103559 Ramos $362,000.00 N
600103560 Kabaker $850,000.00 N
600103561 Williamson $450,000.00 N
600103562 Bobb $315,000.00 N
600103563 Chan $520,000.00 N
600103564 Gray $600,000.00 N
600103565 Kurtz $520,000.00 N
600103566 Thomas $713,500.00 N
600103567 Matarazzo $350,000.00 N
600103568 Lefkowitz $1,025,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 49
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103569 Tobin 107 Hermosa Drive Pismo Beach CA 93449 $299,606.17
600103570 Howe 1330 Rubio Vista Road Altadena CA 91001 $252,000.00
600103571 Marquez 150 Mendocino Court San Bruno CA 94066 $245,000.00
600103572 Davis 122 Lake Shore Drive East Palm Harbor FL 34684 $217,500.00
600103573 Hardy 2867 Ruby Terrace San Jose CA 95148 $285,789.69
600103574 Sanford 14450 N. 46th Place Phoenix AZ 85032 $220,000.00
600103575 Gorham 13464 Picard Place S E Turner OR 97392 $225,000.00
600103576 De Joly 750 Skyward Drive Aptos CA 95003 $244,831.39
600103577 Goldberg 9322 North Cholla Place Paradise Valley AZ 85253 $262,180.83
600103578 Marshall 2034 East Minton Street Mesa AZ 85213 $261,250.00
600103579 Kayler 1888 Lazy Z Road Nederland CO 80466 $235,000.00
600103580 Youssif 2915-2917 Mission Bouleva San Diego CA 92109 $300,000.00
600103581 Carter 17 Egret Way Mill Valley CA 94941 $643,000.00
600103582 Parkhurst 2002 East 200 South Layton UT 84041 $225,750.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103569 Tobin 8.125 .250 7.875 .0400 7.835 10/01/2027
600103570 Howe 8.125 .250 7.875 .0400 7.835 11/01/2027
600103571 Marquez 8.250 .250 8.000 .0400 7.960 11/01/2027
600103572 Davis 8.250 .250 8.000 .0400 7.960 11/01/2027
600103573 Hardy 8.875 .250 8.625 .0400 8.585 10/01/2027
600103574 Sanford 8.250 .250 8.000 .0400 7.960 11/01/2027
600103575 Gorham 8.375 .250 8.125 .0400 8.085 11/01/2027
600103576 De Joly 7.875 .250 7.625 .0400 7.585 10/01/2027
600103577 Goldberg 8.500 .250 8.250 .0400 8.210 10/01/2027
600103578 Marshall 8.750 .250 8.500 .0400 8.460 11/01/2027
600103579 Kayler 8.250 .250 8.000 .0400 7.960 11/01/2027
600103580 Youssif 8.625 .250 8.375 .0400 8.335 11/01/2027
600103581 Carter 7.875 .250 7.625 .0400 7.585 11/01/2027
600103582 Parkhurst 8.250 .250 8.000 .0400 7.960 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103569 Tobin 274800 $2,227.50 11/01/1997 360
600103570 Howe 274805 $1,871.10 11/01/1997 360
600103571 Marquez 274813 $1,840.60 11/01/1997 360
600103572 Davis 274854 $1,634.01 11/01/1997 360
600103573 Hardy 275064 $2,275.15 11/01/1997 360
600103574 Sanford 275085 $1,652.79 11/01/1997 360
600103575 Gorham 275162 $1,710.16 11/01/1997 360
600103576 De Joly 275209 $1,776.42 11/01/1997 360
600103577 Goldberg 275321 $2,018.40 11/01/1997 360
600103578 Marshall 275384 $2,055.25 11/01/1997 360
600103579 Kayler 275389 $1,765.48 11/01/1997 360
600103580 Youssif 275516 $2,333.37 11/01/1997 360
600103581 Carter 275585 $4,662.20 11/01/1997 360
600103582 Parkhurst 275672 $1,695.98 11/01/1997 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>
600103569 Tobin $400,000.00 N
600103570 Howe $315,000.00 N
600103571 Marquez $310,000.00 N
600103572 Davis $290,000.00 N
600103573 Hardy $415,000.00 N
600103574 Sanford $275,000.00 N
600103575 Gorham $327,000.00 N
600103576 De Joly $675,000.00 N
600103577 Goldberg $350,000.00 N
600103578 Marshall $330,000.00 N
600103579 Kayler $325,000.00 N
600103580 Youssif $400,000.00 N
600103581 Carter $1,300,000.00 N
600103582 Parkhurst $301,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 50
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103583 Medina 1716 North 128th Avenue C Omaha NE 68154 $218,000.00
600103584 Neel 1225 Longmont Dam Road Lyons CO 80540 $270,000.00
600103585 Clay 75-5320 La Aula Street Holualoa HI 96725 $298,000.00
600103586 Lee 929 South 6th Avenue Arcadia CA 91006 $323,777.03
600103587 Jaques 1578 Riverside Place Costa Mesa CA 92627 $360,000.00
600103588 Uranga 938 3rd Street Hermosa Beach CA 90254 $329,784.14
600103589 Royse 13596 Sw Mint Place Tigard OR 97223 $214,826.32
600103590 Ho 846 37th Avenue San Francisco CA 94121 $239,843.01
600103591 Lace 1000 -1002 Rhode Island S San Francisco CA 94107 $388,000.00
600103592 Cauley 1427 Montelegre Dr San Jose CA 95120 $312,000.00
600103593 Jacobs 65 Harriet Way Tiburon CA 94920 $273,000.00
600103594 Harrington 134 W 300 North Springville UT 84663 $223,734.55
600103595 Brown 308-310 Magnolia Avenue Piedmont CA 94611 $234,400.00
600103596 Peravali 44198 Boitano Drive Fremont CA 94539 $399,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103583 Medina 8.500 .250 8.250 .0400 8.210 11/01/2027
600103584 Neel 7.875 .250 7.625 .0400 7.585 11/01/2027
600103585 Clay 8.750 .250 8.500 .0400 8.460 11/01/2027
600103586 Lee 7.875 .250 7.625 .0400 7.585 10/01/2027
600103587 Jaques 8.625 .250 8.375 .0400 8.335 11/01/2027
600103588 Uranga 8.125 .250 7.875 .0400 7.835 10/01/2027
600103589 Royse 8.750 .250 8.500 .0400 8.460 10/01/2027
600103590 Ho 8.125 .250 7.875 .0400 7.835 10/01/2027
600103591 Lace 8.000 .250 7.750 .0400 7.710 11/01/2027
600103592 Cauley 8.500 .250 8.250 .0400 8.210 11/01/2027
600103593 Jacobs 8.125 .250 7.875 .0400 7.835 11/01/2027
600103594 Harrington 8.625 .250 8.375 .0400 8.335 10/01/2027
600103595 Brown 8.375 .250 8.125 .0400 8.085 11/01/2027
600103596 Peravali 8.750 .250 8.500 .0400 8.460 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103583 Medina 275731 $1,676.23 11/01/1997 360
600103584 Neel 275828 $1,957.69 11/01/1997 360
600103585 Clay 275981 $2,344.37 11/01/1997 360
600103586 Lee 275985 $2,349.22 11/01/1997 360
600103587 Jaques 276050 $2,800.04 11/01/1997 360
600103588 Uranga 276104 $2,450.24 11/01/1997 360
600103589 Royse 276111 $1,691.02 11/01/1997 360
600103590 Ho 276130 $1,781.99 11/01/1997 360
600103591 Lace 276176 $2,847.01 11/01/1997 360
600103592 Cauley 276206 $2,399.01 11/01/1997 360
600103593 Jacobs 276443 $2,027.02 11/01/1997 360
600103594 Harrington 276457 $1,742.25 11/01/1997 360
600103595 Brown 276750 $1,781.61 11/01/1997 360
600103596 Peravali 276928 $3,138.93 11/01/1997 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>
600103583 Medina $280,000.00 N
600103584 Neel $375,000.00 N
600103585 Clay $400,000.00 N
600103586 Lee $405,000.00 N
600103587 Jaques $504,000.00 N
600103588 Uranga $450,000.00 N
600103589 Royse $268,700.00 N
600103590 Ho $370,000.00 N
600103591 Lace $587,000.00 N
600103592 Cauley $420,000.00 N
600103593 Jacobs $365,000.00 N
600103594 Harrington $280,000.00 N
600103595 Brown $293,000.00 N
600103596 Peravali $525,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 51
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103597 Von Der Luhe Lot 53 Kealakekua Ranch L Captain Cook HI 96704 $300,000.00
600103598 Sobolev 4925 Palo Drive Tarzana CA 91356 $350,000.00
600103599 Hamel 8595 Niwot Road Longmont CO 80503 $281,250.00
600103600 Marks 4488 24th Street San Francisco CA 94114 $300,000.00
600103601 Davis 3890, 3900 And 4005 Traff Atascadero CA 93422 $275,000.00
600103602 Chow 903 Belfair Road Bellevue WA 98004 $280,000.00
600103603 Hannan 3631 Larkwood Ct. Boulder CO 80304 $265,000.00
600103604 Natale 726 Buchon Street Santa Barbara CA 93401 $336,000.00
600103605 Vergis 1348 Virginia Street Danville CA 94526 $380,512.42
600103606 Torell 13018 Henno Glen Ellen CA 95442 $296,505.92
600103607 Walsh 15436 Valley Vista Boulev Sherman Oaks CA 91403 $392,500.00
600103608 Anand 29 Short Way South Pasadena CA 91030 $250,500.00
600103609 Bogharian 441 Linda Vista Avenue Pasadena CA 91105 $288,500.00
600103610 Bansemer 1336 Downieville Drive El Dorado Hills CA 95762 $227,469.51
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103597 Von Der Luhe 8.625 .250 8.375 .0400 8.335 11/01/2027
600103598 Sobolev 7.500 .250 7.250 .0400 7.210 11/01/2027
600103599 Hamel 8.125 .250 7.875 .0400 7.835 11/01/2027
600103600 Marks 7.875 .250 7.625 .0400 7.585 11/01/2027
600103601 Davis 8.500 .250 8.250 .0400 8.210 11/01/2027
600103602 Chow 8.750 .250 8.500 .0400 8.460 11/01/2027
600103603 Hannan 8.250 .250 8.000 .0400 7.960 11/01/2027
600103604 Natale 8.375 .250 8.125 .0400 8.085 11/01/2027
600103605 Vergis 8.250 .250 8.000 .0400 7.960 10/01/2027
600103606 Torell 8.125 .250 7.875 .0400 7.835 10/01/2027
600103607 Walsh 7.250 .250 7.000 .0400 6.960 11/01/2027
600103608 Anand 8.125 .250 7.875 .0400 7.835 11/01/2027
600103609 Bogharian 8.125 .250 7.875 .0400 7.835 11/01/2027
600103610 Bansemer 8.750 .250 8.500 .0400 8.460 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103597 Von Der Luhe 277069 $2,333.37 11/01/1997 360
600103598 Sobolev 277082 $2,447.25 11/01/1997 360
600103599 Hamel 277342 $2,088.27 11/01/1997 360
600103600 Marks 277354 $2,175.21 11/01/1997 360
600103601 Davis 277359 $2,114.51 11/01/1997 360
600103602 Chow 277419 $2,202.76 11/01/1997 360
600103603 Hannan 277452 $1,990.86 11/01/1997 360
600103604 Natale 277725 $2,553.84 11/01/1997 360
600103605 Vergis 277906 $2,862.33 11/01/1997 360
600103606 Torell 277929 $2,202.99 11/01/1997 360
600103607 Walsh 278014 $2,677.54 11/01/1997 360
600103608 Anand 278053 $1,859.96 11/01/1997 360
600103609 Bogharian 278095 $2,142.10 11/01/1997 360
600103610 Bansemer 278356 $1,793.68 11/01/1997 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>
600103597 Von Der Luhe $375,000.00 N
600103598 Sobolev $6,150,000.00 N
600103599 Hamel $375,000.00 N
600103600 Marks $465,000.00 N
600103601 Davis $435,000.00 N
600103602 Chow $350,000.00 N
600103603 Hannan $416,000.00 N
600103604 Natale $420,000.00 N
600103605 Vergis $600,000.00 N
600103606 Torell $435,000.00 N
600103607 Walsh $800,000.00 N
600103608 Anand $375,000.00 N
600103609 Bogharian $385,000.00 N
600103610 Bansemer $310,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 52
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103611 Provost 11707 Ne 98th Street Kirkland WA 98034 $251,443.18
600103612 Buchholz 9008 North Cheyenne Way Park City UT 84098 $330,000.00
600103613 Adame 9431 Hunting Circle Villa Park CA 92861 $438,000.00
600103614 Lincoln 3424 Stoneridge Court Calabasas CA 91302 $275,637.70
600103615 Rogoff 7132 South Uravan Court Aurora CO 80016 $257,000.00
600103616 Ames 954 Leopard Creek Drive Placerville CO 81435 $260,000.00
600103617 Neinhauser Trust 16945 Sunset Blvd. Pacific Palisad CA 90272 $350,000.00
600103618 Itakura 34 Mott Drive Alamo CA 94507 $455,000.00
600103619 Dela Cruz 3825 West Alstead Cove South Jordan UT 84095 $236,000.00
600103620 Caloyannidis 7686 Mulholland Drive Los Angeles CA 90046 $242,000.00
600103621 Stroble 82 Sunbeam Drive Breckenridge CO 80424 $380,000.00
600103622 Ingle 6630 East Killyons Canyon Salt Lake City UT 84108 $291,000.00
600103623 Williams 2685 West Newell Avenue Walnut Creek CA 94595 $449,394.11
600103624 Chandler - Kuhn 2431 South Pinehurst Evergreen CO 80439 $258,800.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103611 Provost 9.000 .250 8.750 .0400 8.710 08/01/2027
600103612 Buchholz 8.250 .250 8.000 .0400 7.960 11/01/2027
600103613 Adame 8.250 .250 8.000 .0400 7.960 11/01/2027
600103614 Lincoln 8.125 .250 7.875 .0400 7.835 10/01/2027
600103615 Rogoff 8.625 .250 8.375 .0400 8.335 11/01/2027
600103616 Ames 8.125 .250 7.875 .0400 7.835 11/01/2027
600103617 Neinhauser Trust 8.375 .250 8.125 .0400 8.085 11/01/2027
600103618 Itakura 8.250 .250 8.000 .0400 7.960 11/01/2027
600103619 Dela Cruz 8.250 .250 8.000 .0400 7.960 11/01/2027
600103620 Caloyannidis 7.875 .250 7.625 .0400 7.585 11/01/2027
600103621 Stroble 7.625 .250 7.375 .0400 7.335 11/01/2027
600103622 Ingle 7.750 .250 7.500 .0400 7.460 11/01/2027
600103623 Williams 8.000 .250 7.750 .0400 7.710 10/01/2027
600103624 Chandler - Kuhn 8.625 .250 8.375 .0400 8.335 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103611 Provost 278447 $2,027.65 11/01/1997 360
600103612 Buchholz 278470 $2,479.18 11/01/1997 360
600103613 Adame 278562 $3,290.55 11/01/1997 360
600103614 Lincoln 278656 $2,049.29 11/01/1997 360
600103615 Rogoff 278701 $1,998.92 11/01/1997 360
600103616 Ames 278727 $1,930.49 11/01/1997 360
600103617 Neinhauser Trust 278759 $2,660.25 11/01/1997 360
600103618 Itakura 278767 $3,418.26 11/01/1997 360
600103619 Dela Cruz 278799 $1,772.99 11/01/1997 360
600103620 Caloyannidis 278923 $1,754.67 11/01/1997 360
600103621 Stroble 279051 $2,689.62 11/01/1997 360
600103622 Ingle 279107 $2,084.76 11/01/1997 360
600103623 Williams 279322 $3,301.94 11/01/1997 360
600103624 Chandler - Kuhn 279403 $2,012.92 11/01/1997 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>
600103611 Provost $360,000.00 N
600103612 Buchholz $420,000.00 N
600103613 Adame $600,000.00 N
600103614 Lincoln $368,000.00 N
600103615 Rogoff $410,000.00 N
600103616 Ames $480,000.00 N
600103617 Neinhauser Trust $590,000.00 N
600103618 Itakura $700,000.00 N
600103619 Dela Cruz $300,000.00 N
600103620 Caloyannidis $875,000.00 N
600103621 Stroble $1,100,000.00 N
600103622 Ingle $380,000.00 N
600103623 Williams $900,000.00 N
600103624 Chandler - Kuhn $326,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 53
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103625 Roe 311-317 J Street Davis CA 95616 $264,000.00
600103626 Borgen 491 Deerhurst Avenue Camarillo CA 93012 $218,000.00
600103627 Iriart Chase Dr Corona CA 91720 $279,623.00
600103628 Walker 19 Lusitano Trabuco Canyon CA 92679 $392,996.44
600103629 Osak 2200 Lincolnwood Drive Evanston IL 60201 $280,000.00
600103630 Horwich 600 E Main St 307 Aspen CO 81611 $227,500.00
600103631 Solomon 415 North Detroit Street Los Angeles CA 90036 $323,000.00
600103632 Mc Clellan Arnold A 1925 Gough St No 64 San Francisco CA 94109 $454,852.29
600103633 Faulk Richard 5190 Renaissance Avenue San Diego CA 92122 $435,341.55
600103634 Cruz Luis R. 277 Hicks Street #4D Brooklyn NY 11201 $255,328.59
600103635 Younge Michael A 765 South Canyon Mist Lan Anaheim CA 92808 $375,930.14
600103636 Louis Jean Claud 1849 Arch St #3 Berkeley CA 94709 $251,264.40
600103637 Sadigh Sassan 502 Hope Terrace Sunnyvale CA 94087 $378,832.56
600103638 Nilsson David 4981 Silver Springs Road Park City UT 84098 $291,228.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103625 Roe 8.875 .250 8.625 .0400 8.585 11/01/2027
600103626 Borgen 8.125 .250 7.875 .0400 7.835 11/01/2027
600103627 Iriart 8.000 .250 7.750 .0400 7.710 09/01/2027
600103628 Walker 8.250 .250 8.000 .0400 7.960 09/01/2027
600103629 Osak 8.500 .250 8.250 .0400 8.210 11/01/2027
600103630 Horwich 8.375 .250 8.125 .0400 8.085 11/01/2027
600103631 Solomon 8.375 .250 8.125 .0400 8.085 11/01/2027
600103632 Mc Clellan Arnold A 8.250 .250 8.000 .0400 7.960 03/01/2027
600103633 Faulk Richard 8.375 .250 8.125 .0400 8.085 05/01/2027
600103634 Cruz Luis R. 8.500 .250 8.250 .0400 8.210 08/01/2027
600103635 Younge Michael A 7.875 .250 7.625 .0400 7.585 09/01/2027
600103636 Louis Jean Claud 8.750 .250 8.500 .0400 8.460 06/01/2027
600103637 Sadigh Sassan 8.500 .250 8.250 .0400 8.210 06/01/2027
600103638 Nilsson David 8.125 .250 7.875 .0400 7.835 07/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103625 Roe 279551 $2,100.50 11/01/1997 360
600103626 Borgen 279734 $1,618.64 11/01/1997 360
600103627 Iriart 280249 $2,054.54 11/01/1997 360
600103628 Walker 280253 $2,956.23 11/01/1997 360
600103629 Osak 281585 $2,152.96 11/01/1997 360
600103630 Horwich 281988 $1,729.17 11/01/1997 360
600103631 Solomon 282147 $2,455.03 11/01/1997 360
600103632 Mc Clellan Arnold A 224438 $3,443.05 11/01/1997 360
600103633 Faulk Richard 231870 $3,321.52 11/01/1997 360
600103634 Cruz Luis R. 240634 $1,968.42 11/01/1997 360
600103635 Younge Michael A 241243 $2,729.53 11/01/1997 360
600103636 Louis Jean Claud 241368 $1,982.49 11/01/1997 360
600103637 Sadigh Sassan 245437 $2,921.87 11/01/1997 360
600103638 Nilsson David 247293 $2,168.09 11/01/1997 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>
600103625 Roe $330,000.00 N
600103626 Borgen $272,500.00 N
600103627 Iriart $350,000.00 N
600103628 Walker $675,000.00 N
600103629 Osak $500,000.00 N
600103630 Horwich $350,000.00 N
600103631 Solomon $430,000.00 N
600103632 Mc Clellan Arnold A $573,550.00 N
600103633 Faulk Richard $460,000.00 N
600103634 Cruz Luis R. $320,000.00 N
600103635 Younge Michael A $470,589.00 N
600103636 Louis Jean Claud $315,000.00 N
600103637 Sadigh Sassan $475,000.00 N
600103638 Nilsson David $365,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 54
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103639 Duenas Victor 7112-7114-7116 Dinwiddie Downey CA 90241 $261,744.13
600103640 Smulson Joel 374 Lake Resort Road Lake Arrowhead CA 92352 $313,953.21
600103641 Barmichael Joseph 11031 S.w. 42nd Court Davie FL 33330 $218,923.22
600103642 Rosenberger Kevin B. 23323 Barfield Drive Valencia CA 91354 $319,200.17
600103643 Anthony Thomas R. 20408 Santa Cruz Highway Los Gatos CA 95030 $359,306.57
600103644 Lien Michael 713 North Alta Vista Bou Los Angeles CA 90046 $314,393.25
600103645 Peterson Donald R. 4219 Buchanan Drive Fair Oaks CA 95628 $423,699.99
600103646 Morton Stewart 52 Old Well Road Stamford CT 6907 $251,708.96
600103647 Majesky James E 16809 246th Ave Ne Woodinville WA 98072 $516,870.76
600103648 Warmington Erin E 411 A&B Poinsettia Avenue Newport Beach CA 92625 $349,689.92
600103649 Park Jason H. 8095 South Oak Hill Circl Aurora CO 80016 $399,501.02
600103650 Jones Andrew P 28 A North Plandome Road Port Washington NY 11050 $319,620.78
600103651 Van Der Harten Arthur 8780 Maverick Street Las Vegas NV 89121 $471,940.06
600103652 White Carl G. 2111 Forest Avenue Belmont CA 94002 $489,419.34
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103639 Duenas Victor 8.750 .250 8.500 .0400 8.460 08/01/2027
600103640 Smulson Joel 8.750 .250 8.500 .0400 8.460 08/01/2027
600103641 Barmichael Joseph 8.375 .250 8.125 .0400 8.085 08/01/2017
600103642 Rosenberger Kevin B. 7.875 .250 7.625 .0400 7.585 10/01/2027
600103643 Anthony Thomas R. 8.250 .250 8.000 .0400 7.960 08/01/2027
600103644 Lien Michael 8.250 .250 8.000 .0400 7.960 08/01/2027
600103645 Peterson Donald R. 8.250 .250 8.000 .0400 7.960 09/01/2027
600103646 Morton Stewart 8.750 .250 8.500 .0400 8.460 09/01/2027
600103647 Majesky James E 8.500 .250 8.250 .0400 8.210 09/01/2027
600103648 Warmington Erin E 8.000 .250 7.750 .0400 7.710 08/01/2027
600103649 Park Jason H. 8.375 .250 8.125 .0400 8.085 09/01/2027
600103650 Jones Andrew P 8.625 .250 8.375 .0400 8.335 10/01/2027
600103651 Van Der Harten Arthur 8.625 .250 8.375 .0400 8.335 10/01/2027
600103652 White Carl G. 8.625 .250 8.375 .0400 8.335 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103639 Duenas Victor 250197 $2,062.73 2 11/01/1997 360
600103640 Smulson Joel 252178 $2,474.17 15 11/01/1997 360
600103641 Barmichael Joseph 252703 $1,891.85 11/01/1997 240
600103642 Rosenberger Kevin B. 254036 $2,316.02 11/01/1997 360
600103643 Anthony Thomas R. 254051 $2,704.56 11/01/1997 360
600103644 Lien Michael 254469 $2,366.49 11/01/1997 360
600103645 Peterson Donald R. 255153 $3,192.88 12 11/01/1997 360
600103646 Morton Stewart 255333 $1,982.49 11/01/1997 360
600103647 Majesky James E 256931 $3,979.13 11/01/1997 360
600103648 Warmington Erin E 257878 $2,571.12 11/01/1997 360
600103649 Park Jason H. 257972 $3,040.29 11/01/1997 360
600103650 Jones Andrew P 258069 $2,488.93 11/01/1997 360
600103651 Van Der Harten Arthur 258644 $3,675.06 11/01/1997 360
600103652 White Carl G. 260422 $3,811.17 11/01/1997 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>
600103639 Duenas Victor $276,000.00 N
600103640 Smulson Joel $370,000.00 N
600103641 Barmichael Joseph $320,000.00 N
600103642 Rosenberger Kevin B. $399,769.00 N
600103643 Anthony Thomas R. $450,000.00 N
600103644 Lien Michael $395,000.00 N
600103645 Peterson Donald R. $480,000.00 N
600103646 Morton Stewart $315,000.00 N
600103647 Majesky James E $750,000.00 N
600103648 Warmington Erin E $438,000.00 N
600103649 Park Jason H. $535,000.00 N
600103650 Jones Andrew P $400,000.00 N
600103651 Van Der Harten Arthur $630,000.00 N
600103652 White Carl G. $615,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 55
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103653 Buissereth Goldsmith 3402 Avenue J Brooklyn NY 11210 $299,822.88
600103654 Ryus Peter R. 56 Nixon Road Framingham MA 1701 $251,626.50
600103655 Doan Tuan A. 2 Laurelwood Irvine CA 92620 $323,232.97
600103656 Lefcort Berton Ala 64 West 83rd Street New York NY 10024 $763,969.98
600103657 Cobb William R 4505 Silver Wing Court Castle Rock CO 80104 $389,500.91
600103658 Navone Toni 2 Benedict Road Mountain Spring NV 89124 $327,590.83
600103659 Rioux Pierre 947 North Glendora Avenu Glendora CA 91741 $255,966.93
600103660 Capra Joseph J. 8266 Country Lake Drive Orangevale CA 95662 $258,077.66
600103661 Richardson Jerry P. 407 Alta Vista Avenue South Pasadena CA 91030 $272,000.00
600103662 Lanza Frank J 55 Devonshire Court Middletown NJ 7748 $228,000.00
600103663 Scarfone Daniel 5138 Chardonnay Drive Coral Springs FL 33067 $232,622.87
600103664 To Con 3265 Rockport Avenue San Jose CA 95132 $303,179.64
600103665 Thompson Elizabeth 7 Mt. Burney Court San Rafael CA 94903 $331,564.19
600103666 Hasanain Syed 270 Moraga Way Orinda CA 94563 $436,748.58
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103653 Buissereth Goldsmith 8.625 .250 8.375 .0400 8.335 10/01/2027
600103654 Ryus Peter R. 8.875 .250 8.625 .0400 8.585 09/01/2027
600103655 Doan Tuan A. 8.000 .250 7.750 .0400 7.710 10/01/2027
600103656 Lefcort Berton Ala 8.000 .250 7.750 .0400 7.710 10/01/2027
600103657 Cobb William R 8.250 .250 8.000 .0400 7.960 09/01/2027
600103658 Navone Toni 8.375 .250 8.125 .0400 8.085 09/01/2027
600103659 Rioux Pierre 7.875 .250 7.625 .0400 7.585 09/01/2027
600103660 Capra Joseph J. 8.375 .250 8.125 .0400 8.085 10/01/2027
600103661 Richardson Jerry P. 7.750 .250 7.500 .0400 7.460 11/01/2027
600103662 Lanza Frank J 8.500 .250 8.250 .0400 8.210 11/01/2027
600103663 Scarfone Daniel 9.000 .250 8.750 .0400 8.710 10/01/2027
600103664 To Con 8.375 .250 8.125 .0400 8.085 08/01/2027
600103665 Thompson Elizabeth 8.125 .250 7.875 .0400 7.835 09/01/2027
600103666 Hasanain Syed 8.750 .250 8.500 .0400 8.460 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103653 Buissereth Goldsmith 260561 $2,333.37 11/01/1997 360
600103654 Ryus Peter R. 260608 $2,004.31 11/01/1997 360
600103655 Doan Tuan A. 261425 $2,373.36 11/01/1997 360
600103656 Lefcort Berton Ala 261838 $5,613.30 11/01/1997 360
600103657 Cobb William R 262191 $2,929.94 11/01/1997 360
600103658 Navone Toni 262683 $2,493.04 11/01/1997 360
600103659 Rioux Pierre 262755 $1,859.81 12 11/01/1997 360
600103660 Capra Joseph J. 262814 $1,964.03 11/01/1997 360
600103661 Richardson Jerry P. 262830 $1,948.64 11/01/1997 360
600103662 Lanza Frank J 262892 $1,753.13 11/01/1997 360
600103663 Scarfone Daniel 263072 $1,872.76 1 11/01/1997 360
600103664 To Con 263197 $2,308.72 11/01/1997 360
600103665 Thompson Elizabeth 263212 $2,465.09 11/01/1997 360
600103666 Hasanain Syed 263487 $3,437.88 11/01/1997 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>
600103653 Buissereth Goldsmith $400,000.00 N
600103654 Ryus Peter R. $279,900.00 N
600103655 Doan Tuan A. $404,358.00 N
600103656 Lefcort Berton Ala $1,550,000.00 N
600103657 Cobb William R $490,000.00 N
600103658 Navone Toni $410,000.00 N
600103659 Rioux Pierre $285,000.00 N
600103660 Capra Joseph J. $323,000.00 N
600103661 Richardson Jerry P. $340,000.00 N
600103662 Lanza Frank J $285,000.00 N
600103663 Scarfone Daniel $245,000.00 N
600103664 To Con $405,000.00 N
600103665 Thompson Elizabeth $415,000.00 N
600103666 Hasanain Syed $575,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 56
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103667 Foley Michael 275 Cliffwood Drive Simi Valley CA 93065 $235,640.25
600103668 Victoria Job P. 23111 Audrey Avenue Torrance CA 90505 $367,552.56
600103669 Holland Byran J. 12258 Keld Court San Diego CA 92129 $257,152.68
600103670 Granderson Sylvia 1800 South Ogden Drive Los Angeles CA 90019 $302,811.99
600103671 Gunn William 258 Taylor Drive South San Franc CA 94080 $227,301.23
600103672 Inness-Brown Lee M. 15735 Lawson Valley Road Jamul CA 91935 $359,758.44
600103673 Cagliostro Michelle 5070 Trail Canyon Drive Mira Loma CA 91752 $218,271.06
600103674 Soule Eric M. 1146 Fairview Ave San Jose CA 95125 $307,803.60
600103675 Himes Michael G. 25791 Empresa Mission Viejo CA 92691 $224,852.82
600103676 Katz Jeffrey 44 Park Trail Croton On Hudso NY 10520 $231,200.00
600103677 Hudson Jeffrey 26114 Salinger Lane Stevenson Ranch CA 91381 $257,922.38
600103678 Schulle Milton 6455 Zumaview Place, #118 Malibu CA 90265 $351,751.56
600103679 Hamilton Alec S. 5 Puerto Morant San Clemente CA 92672 $259,321.41
600103680 Deutsch Randolph W 142 St James Drive Piedmont CA 94611 $374,495.08
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103667 Foley Michael 8.125 .250 7.875 .0400 7.835 09/01/2027
600103668 Victoria Job P. 8.500 .250 8.250 .0400 8.210 09/01/2027
600103669 Holland Byran J. 8.750 .250 8.500 .0400 8.460 09/01/2027
600103670 Granderson Sylvia 8.250 .250 8.000 .0400 7.960 09/01/2027
600103671 Gunn William 8.125 .250 7.875 .0400 7.835 09/01/2027
600103672 Inness-Brown Lee M. 8.000 .250 7.750 .0400 7.710 10/01/2027
600103673 Cagliostro Michelle 8.625 .250 8.375 .0400 8.335 10/01/2027
600103674 Soule Eric M. 8.250 .250 8.000 .0400 7.960 10/01/2027
600103675 Himes Michael G. 8.125 .250 7.875 .0400 7.835 10/01/2027
600103676 Katz Jeffrey 8.000 .250 7.750 .0400 7.710 11/01/2027
600103677 Hudson Jeffrey 7.875 .250 7.625 .0400 7.585 10/01/2027
600103678 Schulle Milton 7.750 .250 7.500 .0400 7.460 10/01/2027
600103679 Hamilton Alec S. 7.875 .250 7.625 .0400 7.585 10/01/2027
600103680 Deutsch Randolph W 8.000 .250 7.750 .0400 7.710 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103667 Foley Michael 263533 $1,751.93 11/01/1997 360
600103668 Victoria Job P. 263585 $2,829.60 11/01/1997 360
600103669 Holland Byran J. 263642 $2,025.36 11/01/1997 360
600103670 Granderson Sylvia 263885 $2,277.84 11/01/1997 360
600103671 Gunn William 264074 $1,689.92 11/01/1997 360
600103672 Inness-Brown Lee M. 264665 $2,641.56 11/01/1997 360
600103673 Cagliostro Michelle 264866 $1,698.69 11/01/1997 360
600103674 Soule Eric M. 264872 $2,313.90 11/01/1997 360
600103675 Himes Michael G. 264996 $1,670.62 7 11/01/1997 360
600103676 Katz Jeffrey 265210 $1,696.46 11/01/1997 360
600103677 Hudson Jeffrey 265230 $1,871.40 11/01/1997 360
600103678 Schulle Milton 265293 $2,521.77 11/01/1997 360
600103679 Hamilton Alec S. 265308 $1,881.56 11/01/1997 360
600103680 Deutsch Randolph W 265358 $2,751.62 11/01/1997 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>
600103667 Foley Michael $294,990.00 N
600103668 Victoria Job P. $460,000.00 N
600103669 Holland Byran J. $321,812.00 N
600103670 Granderson Sylvia $379,000.00 N
600103671 Gunn William $284,500.00 N
600103672 Inness-Brown Lee M. $450,000.00 N
600103673 Cagliostro Michelle $273,000.00 N
600103674 Soule Eric M. $420,000.00 N
600103675 Himes Michael G. $250,000.00 N
600103676 Katz Jeffrey $289,000.00 N
600103677 Hudson Jeffrey $286,825.00 N
600103678 Schulle Milton $440,000.00 N
600103679 Hamilton Alec S. $335,000.00 N
600103680 Deutsch Randolph W $680,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 57
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103682 Rosser Blake E. 13029 Caminito Del Rocio Del Mar CA 92014 $251,685.65
600103683 Sulimen Sulimen A. 559 Auburn Avenue Sierra Madre CA 91024 $291,804.08
600103684 Mc Guire Daniel Ste Lot 1 Kamehameha 5 Highwa Kalae HI 96757 $224,704.64
600103685 Murphy Stephanie 5011 Terrace Heights Driv Yakima WA 98901 $229,845.67
600103686 Zagorin Mauricio 9724 East Presidio Road Scottsdale AZ 85260 $243,044.91
600103687 Filkins Timothy R. 18255 S. W. Tamaway Drive Lake Oswego OR 97034 $319,790.68
600103688 Kamloonwasaraj Somsak 82 Kipling Street Mill Valley CA 94941 $383,735.73
600103689 Page Jeff L 22636/22646 Silver Oak W Cupertino CA 95014 $343,559.77
600103690 Gonzalez Luis M 5021-5023-5025 Glickman A Temple City CA 91780 $274,333.71
600103691 Ridler Barbara A. 3838 Bridge Road Vail CO 81657 $379,525.97
600103692 Barazani Yuval 18777 Maplewood Lane Northridge CA 91326 $338,320.00
600103693 Feeley Thomas 70 Jefferson Street Hoboken NJ 7030 $289,810.30
600103694 Gomez Joel 966-968 Wyandotte Avenue Daly City CA 94014 $223,853.48
600103695 Larin Giovanni 1524 Latchford Avenue Hacienda Height CA 91745 $227,560.82
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103682 Rosser Blake E. 8.375 .250 8.125 .0400 8.085 09/01/2027
600103683 Sulimen Sulimen A. 8.000 .250 7.750 .0400 7.710 10/01/2027
600103684 Mc Guire Daniel Ste 8.125 .250 7.875 .0400 7.835 10/01/2027
600103685 Murphy Stephanie 8.000 .250 7.750 .0400 7.710 10/01/2027
600103686 Zagorin Mauricio 8.250 .250 8.000 .0400 7.960 10/01/2027
600103687 Filkins Timothy R. 8.125 .250 7.875 .0400 7.835 10/01/2027
600103688 Kamloonwasaraj Somsak 7.875 .250 7.625 .0400 7.585 10/01/2027
600103689 Page Jeff L 8.250 .250 8.000 .0400 7.960 10/01/2027
600103690 Gonzalez Luis M 8.500 .250 8.250 .0400 8.210 10/01/2027
600103691 Ridler Barbara A. 8.375 .250 8.125 .0400 8.085 09/01/2027
600103692 Barazani Yuval 7.750 .250 7.500 .0400 7.460 11/01/2027
600103693 Feeley Thomas 8.125 .250 7.875 .0400 7.835 10/01/2027
600103694 Gomez Joel 8.125 .250 7.875 .0400 7.835 10/01/2027
600103695 Larin Giovanni 8.250 .250 8.000 .0400 7.960 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103682 Rosser Blake E. 265674 $1,915.38 11/01/1997 360
600103683 Sulimen Sulimen A. 265755 $2,142.59 11/01/1997 360
600103684 Mc Guire Daniel Ste 265811 $1,670.62 11/01/1997 360
600103685 Murphy Stephanie 265917 $1,687.66 11/01/1997 360
600103686 Zagorin Mauricio 266085 $1,827.09 11/01/1997 360
600103687 Filkins Timothy R. 266640 $2,375.99 11/01/1997 360
600103688 Kamloonwasaraj Somsak 266641 $2,784.27 11/01/1997 360
600103689 Page Jeff L 266678 $2,584.36 11/01/1997 360
600103690 Gonzalez Luis M 266685 $2,110.67 12 11/01/1997 360
600103691 Ridler Barbara A. 266973 $2,888.27 11/01/1997 360
600103692 Barazani Yuval 267013 $2,423.77 11/01/1997 360
600103693 Feeley Thomas 267080 $2,153.24 11/01/1997 360
600103694 Gomez Joel 267228 $1,663.19 11/01/1997 360
600103695 Larin Giovanni 267382 $1,712.89 12 11/01/1997 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>
600103682 Rosser Blake E. $315,000.00 N
600103683 Sulimen Sulimen A. $365,000.00 N
600103684 Mc Guire Daniel Ste $300,000.00 N
600103685 Murphy Stephanie $315,000.00 N
600103686 Zagorin Mauricio $304,000.00 N
600103687 Filkins Timothy R. $400,000.00 N
600103688 Kamloonwasaraj Somsak $480,000.00 N
600103689 Page Jeff L $460,000.00 N
600103690 Gonzalez Luis M $305,000.00 N
600103691 Ridler Barbara A. $475,000.00 N
600103692 Barazani Yuval $422,900.00 N
600103693 Feeley Thomas $400,000.00 N
600103694 Gomez Joel $280,000.00 N
600103695 Larin Giovanni $240,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 58
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103696 Greenhalgh Bradley G. Unit 13 Sundance Village Sundance (Provo UT 84604 $426,924.41
600103697 Griffin Kathleen 6451 Deep Dell Place Los Angeles CA 90068 $359,752.25
600103698 Gutierrez Jaime 501-503 Hill Drive Glendale CA 91206 $279,787.33
600103699 Noritake Dean T 2224 Midwick Drive Altadena CA 91001 $451,680.99
600103700 Rasmussen Kirk W 1051 Woodvale Court San Jose CA 95116 $228,883.50
600103701 Raffa John F. 227 West Saddle River Roa Saddle River NJ 7458 $300,000.00
600103702 Fauque Jacques A 12135 Atrium Drive Saratoga CA 95070 $280,861.61
600103703 Mattiello Richard A 1181 Fernside Street Redwood City CA 94061 $283,636.55
600103704 Severs John B. 462 Whitetail Lane Grand Junction CO 81503 $260,620.60
600103705 Magana Samuel 9476 Gallatin Road Downey CA 90240 $288,398.90
600103706 Broadhurst Norman N. 32612 Adriatic Drive Monarch Beach CA 92629 $358,153.35
600103707 Haynes Scott D. 2637 Lucky John Dr. Park City UT 84060 $249,836.47
600103708 Cagle Julie 1580 East Stablewood Circ Salt Lake City UT 84117 $269,654.46
600103709 Menander- HuberKerstin B. 1420 Stockton Road Meadowbrook PA 19046 $247,713.58
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103696 Greenhalgh Bradley G. 8.000 .250 7.750 .0400 7.710 09/01/2027
600103697 Griffin Kathleen 7.875 .250 7.625 .0400 7.585 10/01/2027
600103698 Gutierrez Jaime 9.000 .250 8.750 .0400 8.710 08/01/2027
600103699 Noritake Dean T 7.750 .250 7.500 .0400 7.460 10/01/2027
600103700 Rasmussen Kirk W 7.875 .250 7.625 .0400 7.585 10/01/2027
600103701 Raffa John F. 7.625 .250 7.375 .0400 7.335 11/01/2027
600103702 Fauque Jacques A 7.875 .250 7.625 .0400 7.585 09/01/2027
600103703 Mattiello Richard A 8.250 .250 8.000 .0400 7.960 09/01/2027
600103704 Severs John B. 7.875 .250 7.625 .0400 7.585 09/01/2027
600103705 Magana Samuel 8.500 .250 8.250 .0400 8.210 10/01/2027
600103706 Broadhurst Norman N. 7.875 .250 7.625 .0400 7.585 10/01/2027
600103707 Haynes Scott D. 8.125 .250 7.875 .0400 7.835 10/01/2027
600103708 Cagle Julie 8.250 .250 8.000 .0400 7.960 10/01/2027
600103709 Menander- HuberKerstin B. 8.750 .250 8.500 .0400 8.460 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103696 Greenhalgh Bradley G. 267519 $3,136.84 11/01/1997 360
600103697 Griffin Kathleen 267545 $2,610.25 11/01/1997 360
600103698 Gutierrez Jaime 267768 $2,254.95 1 11/01/1997 360
600103699 Noritake Dean T 267938 $3,238.18 11/01/1997 360
600103700 Rasmussen Kirk W 267948 $1,661.86 11/01/1997 360
600103701 Raffa John F. 268129 $2,123.38 11/01/1997 360
600103702 Fauque Jacques A 268149 $2,039.26 11/01/1997 360
600103703 Mattiello Richard A 268172 $2,133.60 11/01/1997 360
600103704 Severs John B. 268219 $1,892.30 11/01/1997 360
600103705 Magana Samuel 268314 $2,220.24 11/01/1997 360
600103706 Broadhurst Norman N. 268329 $2,598.65 11/01/1997 360
600103707 Haynes Scott D. 268375 $1,856.24 11/01/1997 360
600103708 Cagle Julie 268452 $2,028.43 11/01/1997 360
600103709 Menander- HuberKerstin B. 268458 $1,951.02 11/01/1997 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>
600103696 Greenhalgh Bradley G. $570,000.00 N
600103697 Griffin Kathleen $450,000.00 N
600103698 Gutierrez Jaime $295,000.00 N
600103699 Noritake Dean T $565,000.00 N
600103700 Rasmussen Kirk W $286,560.00 N
600103701 Raffa John F. $380,000.00 N
600103702 Fauque Jacques A $375,000.00 N
600103703 Mattiello Richard A $355,000.00 N
600103704 Severs John B. $345,000.00 N
600103705 Magana Samuel $385,000.00 N
600103706 Broadhurst Norman N. $512,000.00 N
600103707 Haynes Scott D. $367,000.00 N
600103708 Cagle Julie $349,000.00 N
600103709 Menander- HuberKerstin B. $310,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 59
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103710 Jindal Ajay K. 15794 Se 58th Place Bellevue WA 98006 $379,531.95
600103711 Daigle Weylin J. 584 D Stable Road Paia HI 96779 $650,000.00
600103712 Wiseman Allan 7549 West 82nd St. (playa Los Angeles CA 90293 $414,707.10
600103713 Sterrett James 4874 Almondwood Way San Diego CA 92130 $326,641.58
600103714 Kyle Sean Marti 4559 Gatetree Circle Pleasanton CA 94566 $279,623.00
600103715 Hempel Craig B 30128 Longhorn Drive Sun City CA 92587 $327,774.27
600103716 Mattson John 311 33rd Street Newport Beach CA 92663 $270,631.68
600103717 Srinath Murthy 22023 Baxley Court Cupertino CA 95014 $498,720.25
600103718 Davis Erin K. 198 8th Street Brooklyn NY 11215 $236,556.61
600103719 Twine Helen 36-17 192nd Street Flushing NY 11358 $303,811.05
600103720 Laucet Andres 31-15 81st Street Jackson Heights NY 11372 $220,500.00
600103721 Bassin Adriana I. 12303 Tiara Street Los Angeles Val CA 91607 $276,000.00
600103722 Stewart Douglas 5050 Deer Creek Road Missoula MT 59802 $279,821.45
600103723 Haseotes Vasilios 15262 Natures Point Lane Wellington FL 33414 $331,793.64
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103710 Jindal Ajay K. 7.750 .250 7.500 .0400 7.460 10/01/2027
600103711 Daigle Weylin J. 8.250 .250 8.000 .0400 7.960 11/01/2027
600103712 Wiseman Allan 7.750 .250 7.500 .0400 7.460 10/01/2027
600103713 Sterrett James 8.250 .250 8.000 .0400 7.960 10/01/2027
600103714 Kyle Sean Marti 8.000 .250 7.750 .0400 7.710 09/01/2027
600103715 Hempel Craig B 7.875 .250 7.625 .0400 7.585 10/01/2027
600103716 Mattson John 8.375 .250 8.125 .0400 8.085 10/01/2027
600103717 Srinath Murthy 8.875 .250 8.625 .0400 8.585 10/01/2027
600103718 Davis Erin K. 8.500 .250 8.250 .0400 8.210 10/01/2027
600103719 Twine Helen 8.375 .250 8.125 .0400 8.085 10/01/2027
600103720 Laucet Andres 8.250 .250 8.000 .0400 7.960 11/01/2027
600103721 Bassin Adriana I. 8.000 .250 7.750 .0400 7.710 11/01/2027
600103722 Stewart Douglas 8.250 .250 8.000 .0400 7.960 10/01/2027
600103723 Haseotes Vasilios 8.375 .250 8.125 .0400 8.085 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103710 Jindal Ajay K. 268566 $2,720.93 11/01/1997 360
600103711 Daigle Weylin J. 268637 $4,883.24 11/01/1997 360
600103712 Wiseman Allan 268703 $2,973.11 11/01/1997 360
600103713 Sterrett James 268866 $2,455.51 11/01/1997 360
600103714 Kyle Sean Marti 269049 $2,054.54 11/01/1997 360
600103715 Hempel Craig B 269201 $2,378.23 11/01/1997 360
600103716 Mattson John 269262 $2,058.28 11/01/1997 360
600103717 Srinath Murthy 269516 $3,970.27 11/01/1997 360
600103718 Davis Erin K. 269542 $1,820.02 7 11/01/1997 360
600103719 Twine Helen 269545 $2,310.62 1 11/01/1997 360
600103720 Laucet Andres 269558 $1,656.54 12 11/01/1997 360
600103721 Bassin Adriana I. 269692 $2,025.19 11/01/1997 360
600103722 Stewart Douglas 270114 $2,103.55 11/01/1997 360
600103723 Haseotes Vasilios 270222 $2,523.44 11/01/1997 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>
600103710 Jindal Ajay K. $474,800.00 N
600103711 Daigle Weylin J. $967,000.00 N
600103712 Wiseman Allan $536,000.00 N
600103713 Sterrett James $408,591.00 N
600103714 Kyle Sean Marti $369,000.00 N
600103715 Hempel Craig B $410,000.00 N
600103716 Mattson John $338,500.00 N
600103717 Srinath Murthy $625,000.00 N
600103718 Davis Erin K. $263,000.00 N
600103719 Twine Helen $320,000.00 N
600103720 Laucet Andres $245,000.00 N
600103721 Bassin Adriana I. $345,000.00 N
600103722 Stewart Douglas $365,000.00 N
600103723 Haseotes Vasilios $415,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 60
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103724 Bain Robert Phi 0590 County Road 216 Rifle CO 81650 $227,858.28
600103725 Miller Steven N. 18002 Aberdeen Lane Villa Park CA 92861 $339,794.02
600103726 Sharma Gian 44269 Owl Place Fremont CA 94539 $505,958.74
600103727 Gibson Brian Dale 1418 Bonnell Drive Topanga CA 90290 $463,696.48
600103728 Mc Lean Ronald H. 12900 Murphy Road Elbert CO 80106 $319,785.28
600103729 Wing Christophe 2330 Dartmouth El Dorado Hills CA 95762 $380,287.27
600103730 Bahou Zaki 3 Seneca Forest Court Germantown MD 20876 $287,472.13
600103731 Kuder Dan R 13296 South Sweet Carolin Riverton UT 84065 $297,000.00
600103732 Wiesen Christophe 7667 Padova Drive Goleta CA 93117 $242,341.37
600103733 Goedecke Klaus 1643 12th Street #1 Santa Monica CA 90404 $395,727.48
600103734 Park Ku Bin 5112 Redwillow Lane La Canada Flint CA 91011 $307,075.37
600103735 Tabata David A. 68-1375 Pauoa Street #m-4 Kamuela HI 96743 $289,819.75
600103736 Dykowsky Henry 3 Dakota Court Suffern NY 10901 $249,688.14
600103737 Harley, M. D. Ned Richar 4515 C Bighorn Road Vail CO 81657 $309,802.32
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103724 Bain Robert Phi 8.375 .250 8.125 .0400 8.085 10/01/2027
600103725 Miller Steven N. 8.500 .250 8.250 .0400 8.210 10/01/2027
600103726 Sharma Gian 8.750 .250 8.500 .0400 8.460 10/01/2027
600103727 Gibson Brian Dale 8.125 .250 7.875 .0400 7.835 10/01/2027
600103728 Mc Lean Ronald H. 8.000 .250 7.750 .0400 7.710 10/01/2027
600103729 Wing Christophe 8.000 .250 7.750 .0400 7.710 10/01/2027
600103730 Bahou Zaki 8.125 .250 7.875 .0400 7.835 10/01/2027
600103731 Kuder Dan R 8.000 .250 7.750 .0400 7.710 11/01/2027
600103732 Wiesen Christophe 8.125 .250 7.875 .0400 7.835 10/01/2027
600103733 Goedecke Klaus 7.875 .250 7.625 .0400 7.585 10/01/2027
600103734 Park Ku Bin 7.875 .250 7.625 .0400 7.585 09/01/2027
600103735 Tabata David A. 8.375 .250 8.125 .0400 8.085 10/01/2027
600103736 Dykowsky Henry 8.375 .250 8.125 .0400 8.085 10/01/2027
600103737 Harley, M. D. Ned Richar 8.250 .250 8.000 .0400 7.960 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103724 Bain Robert Phi 270316 $1,732.97 11/01/1997 360
600103725 Miller Steven N. 270532 $2,614.31 11/01/1997 360
600103726 Sharma Gian 270536 $3,982.67 11/01/1997 360
600103727 Gibson Brian Dale 270941 $3,445.19 11/01/1997 360
600103728 Mc Lean Ronald H. 270955 $2,348.05 11/01/1997 360
600103729 Wing Christophe 271058 $2,794.18 11/01/1997 360
600103730 Bahou Zaki 271065 $2,137.28 11/01/1997 360
600103731 Kuder Dan R 271192 $2,179.28 7 11/01/1997 360
600103732 Wiesen Christophe 271360 $1,800.56 11/01/1997 360
600103733 Goedecke Klaus 271365 $2,871.27 11/01/1997 360
600103734 Park Ku Bin 271420 $2,229.59 11/01/1997 360
600103735 Tabata David A. 271424 $2,204.21 11/01/1997 360
600103736 Dykowsky Henry 271435 $1,900.18 11/01/1997 360
600103737 Harley, M. D. Ned Richar 271485 $2,328.93 11/01/1997 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>
600103724 Bain Robert Phi $285,000.00 N
600103725 Miller Steven N. $425,000.00 N
600103726 Sharma Gian $675,000.00 N
600103727 Gibson Brian Dale $580,000.00 N
600103728 Mc Lean Ronald H. $400,000.00 N
600103729 Wing Christophe $750,000.00 N
600103730 Bahou Zaki $359,825.00 N
600103731 Kuder Dan R $360,000.00 N
600103732 Wiesen Christophe $305,000.00 N
600103733 Goedecke Klaus $495,000.00 N
600103734 Park Ku Bin $410,000.00 N
600103735 Tabata David A. $525,000.00 N
600103736 Dykowsky Henry $312,500.00 N
600103737 Harley, M. D. Ned Richar $387,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 61
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103738 Robinson Scott Earl 21012 South Cooper Road Chandler AZ 85249 $223,720.55
600103739 Prasad Sean S. 303 Mcevoy Street Redwood City CA 94061 $223,857.16
600103740 Campbell Harvey 1121 Gavin Court Lake Forest IL 60045 $680,000.00
600103741 Holobaugh James M. 8325 Kirkwood Drive Los Angeles CA 90046 $287,811.61
600103742 Goddard David Edwa 1753 Dewey Street Santa Monica CA 90405 $313,553.62
600103743 Corbi Rosanna 3168 Layton Ave. Bronx NY 10465 $273,683.57
600103744 Dent Kenneth J. 1229 Noe Street San Francisco CA 94114 $279,812.13
600103745 Gutierrez Javier 1297 Rebecca Drive Livermore CA 94550 $239,722.04
600103746 Draper Edward G. 15101 Mina De Oro Road Poway CA 92064 $299,575.15
600103747 Albana Alexander 929 Canada Drive Milpitas CA 95035 $268,628.60
600103748 White Taylor 2440 Las Lunas Street Pasadena CA 91107 $220,000.00
600103749 Cherin Stephanie 450 6th Avenue Santa Cruz CA 95062 $230,097.56
600103750 Mc Farlin Susan M. 442 Cuerda Corte Arroyo Grande CA 93420 $275,509.29
600103751 Haghighi Mehdi 4891 Coyote Wells Circle Thousand Oaks CA 91362 $364,748.81
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103738 Robinson Scott Earl 8.375 .250 8.125 .0400 8.085 10/01/2027
600103739 Prasad Sean S. 8.250 .250 8.000 .0400 7.960 10/01/2027
600103740 Campbell Harvey 7.750 .250 7.500 .0400 7.460 11/01/2027
600103741 Holobaugh James M. 8.125 .250 7.875 .0400 7.835 10/01/2027
600103742 Goddard David Edwa 7.750 .250 7.500 .0400 7.460 08/01/2027
600103743 Corbi Rosanna 8.750 .250 8.500 .0400 8.460 10/01/2027
600103744 Dent Kenneth J. 8.000 .250 7.750 .0400 7.710 10/01/2027
600103745 Gutierrez Javier 8.250 .250 8.000 .0400 7.960 10/01/2027
600103746 Draper Edward G. 7.750 .250 7.500 .0400 7.460 10/01/2027
600103747 Albana Alexander 8.250 .250 8.000 .0400 7.960 10/01/2027
600103748 White Taylor 7.750 .250 7.500 .0400 7.460 11/01/2027
600103749 Cherin Stephanie 8.125 .250 7.875 .0400 7.835 10/01/2027
600103750 Mc Farlin Susan M. 7.750 .250 7.500 .0400 7.460 10/01/2027
600103751 Haghighi Mehdi 7.875 .250 7.625 .0400 7.585 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103738 Robinson Scott Earl 271488 $1,702.57 11/01/1997 360
600103739 Prasad Sean S. 271512 $1,682.84 11/01/1997 360
600103740 Campbell Harvey 271568 $4,871.60 11/01/1997 360
600103741 Holobaugh James M. 271676 $2,138.39 11/01/1997 360
600103742 Goddard David Edwa 271726 $2,252.76 2 11/01/1997 360
600103743 Corbi Rosanna 271751 $2,155.56 11/01/1997 360
600103744 Dent Kenneth J. 271853 $2,054.54 11/01/1997 360
600103745 Gutierrez Javier 271964 $1,802.10 11/01/1997 360
600103746 Draper Edward G. 272043 $2,149.24 11/01/1997 360
600103747 Albana Alexander 272050 $2,019.40 11/01/1997 360
600103748 White Taylor 272106 $1,576.11 11/01/1997 360
600103749 Cherin Stephanie 272252 $1,710.71 11/01/1997 360
600103750 Mc Farlin Susan M. 272315 $1,976.58 11/01/1997 360
600103751 Haghighi Mehdi 272499 $2,646.50 11/01/1997 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>
600103738 Robinson Scott Earl $320,000.00 N
600103739 Prasad Sean S. $280,000.00 N
600103740 Campbell Harvey $1,100,000.00 N
600103741 Holobaugh James M. $360,000.00 N
600103742 Goddard David Edwa $331,000.00 N
600103743 Corbi Rosanna $355,000.00 N
600103744 Dent Kenneth J. $385,000.00 N
600103745 Gutierrez Javier $299,872.00 N
600103746 Draper Edward G. $1,100,000.00 N
600103747 Albana Alexander $336,000.00 N
600103748 White Taylor $314,000.00 N
600103749 Cherin Stephanie $288,000.00 N
600103750 Mc Farlin Susan M. $344,900.00 N
600103751 Haghighi Mehdi $515,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 62
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103752 Verma Victor 3 Gaston Farms Road Greenwich CT 6831 $1,399,173.44
600103753 Mullins Brenton 2010 Penmar Avenue Venice CA 90291 $235,833.43
600103754 Joanino Fernando A 1331 Traughber Street Milpitas CA 95035 $240,500.00
600103755 Cardoso Claudio J. 26 Hillandale Road Brookfield CT 6804 $245,562.26
600103756 White Emmett Mic 6049 South Normandie Aven Los Angeles CA 90044 $224,726.41
600103757 Valdez Ruben 9125 E. 138th Court Brighton CO 80601 $259,846.50
600103758 Palmer Brian 33939 Bradmore Ct Santa Clarita CA 91350 $219,703.79
600103759 Eckel Stanley 7 Recreation Dr La Honda CA 94020 $399,447.63
600103760 Solorio Jose 502 Carpenteria Rd Aromas CA 95004 $214,912.00
600103761 WOLTOSZ Walter 5925 Allepo Ln Palmdale CA 93551 $451,688.94
600103762 Cannon Samuel Lot 12 Berta Views Dr Salinas CA 93907 $340,341.14
600103763 Prioletto James N 84 Daisyfield Drive Livermore CA 94550 $240,000.00
600103764 Swim Samuel E 2226 Codels Canyon Drive Grand Junction CO 81503 $241,682.33
600103765 Jenkins John Mark 4271 Reed Land Circle San Ramon CA 94583 $277,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103752 Verma Victor 8.625 .250 8.375 .0400 8.335 10/01/2027
600103753 Mullins Brenton 7.750 .250 7.500 .0400 7.460 10/01/2027
600103754 Joanino Fernando A 8.000 .250 7.750 .0400 7.710 11/01/2027
600103755 Cardoso Claudio J. 8.875 .250 8.625 .0400 8.585 10/01/2027
600103756 White Emmett Mic 8.500 .250 8.250 .0400 8.210 10/01/2027
600103757 Valdez Ruben 8.625 .250 8.375 .0400 8.335 10/01/2027
600103758 Palmer Brian 8.000 .250 7.750 .0400 7.710 09/01/2027
600103759 Eckel Stanley 7.875 .250 7.625 .0400 7.585 09/01/2027
600103760 Solorio Jose 7.875 .250 7.625 .0400 7.585 10/01/2027
600103761 WOLTOSZ Walter 7.875 .250 7.625 .0400 7.585 10/01/2027
600103762 Cannon Samuel 8.000 .250 7.750 .0400 7.710 09/01/2027
600103763 Prioletto James N 7.875 .250 7.625 .0400 7.585 11/01/2027
600103764 Swim Samuel E 8.125 .250 7.875 .0400 7.835 10/01/2027
600103765 Jenkins John Mark 7.875 .250 7.625 .0400 7.585 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103752 Verma Victor 272501 ********* 11/01/1997 360
600103753 Mullins Brenton 272776 $1,690.74 11/01/1997 360
600103754 Joanino Fernando A 272805 $1,764.70 11/01/1997 360
600103755 Cardoso Claudio J. 272870 $1,954.90 7 11/01/1997 360
600103756 White Emmett Mic 273120 $1,730.06 1 11/01/1997 360
600103757 Valdez Ruben 273161 $2,022.25 11/01/1997 360
600103758 Palmer Brian 273214 $1,614.28 11/01/1997 360
600103759 Eckel Stanley 273244 $2,900.28 1 11/01/1997 360
600103760 Solorio Jose 273250 $1,559.33 11/01/1997 360
600103761 WOLTOSZ Walter 273251 $3,277.31 11/01/1997 360
600103762 Cannon Samuel 273255 $2,500.67 11/01/1997 360
600103763 Prioletto James N 273360 $1,740.17 11/01/1997 360
600103764 Swim Samuel E 273375 $1,796.84 11/01/1997 360
600103765 Jenkins John Mark 273378 $2,008.44 11/01/1997 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>
600103752 Verma Victor $2,400,000.00 N
600103753 Mullins Brenton $297,500.00 N
600103754 Joanino Fernando A $335,000.00 N
600103755 Cardoso Claudio J. $273,000.00 N
600103756 White Emmett Mic $250,000.00 N
600103757 Valdez Ruben $325,524.00 N
600103758 Palmer Brian $275,000.00 N
600103759 Eckel Stanley $445,000.00 N
600103760 Solorio Jose $389,000.00 N
600103761 WOLTOSZ Walter $565,000.00 N
600103762 Cannon Samuel $430,000.00 N
600103763 Prioletto James N $300,000.00 N
600103764 Swim Samuel E $302,500.00 N
600103765 Jenkins John Mark $355,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 63
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103766 Schletz Jon 3161 Miranda Avenue Alamo CA 94507 $326,650.00
600103767 Shih James C. 5370 Via Asturias Yorba Linda CA 92887 $255,823.82
600103768 Leonhardt Wayne C. 6451 Colton Blvd Oakland CA 94611 $290,000.00
600103769 Rosser James M. 1409 Montezuma Way West Covina CA 91791 $348,000.00
600103770 Wayne Lawrence R 1425 St. Kitts Lane Foster City CA 94404 $444,000.00
600103771 Abate Adey 316 31st Avenue Seattle WA 98144 $215,858.71
600103772 Hayes Christophe 1581 Litina Drive Alamo CA 94507 $267,824.69
600103773 Patrick John 9179 Highway 82 Carbondale CO 81623 $380,000.00
600103774 Renzi I I I Nicholas 712 New Albany Road Moorestown NJ 8057 $544,100.00
600103775 Mordecai David 549 South Westgate Avenue Los Angeles CA 90049 $406,000.00
600103776 Oviatt, Jr. Lamon A. 896 South 1600 East Springville UT 84663 $251,839.31
600103777 Mirasole Stephano 177 Hemme Avenue Alamo CA 94507 $367,759.28
600103779 Mkroyan Thomas T. 1332 Elm Avenue Glendale CA 91201 $251,250.00
600103780 Krijestorac Sammy 4218 Rhodes Avenue Studio City CA 91604 $459,706.67
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103766 Schletz Jon 7.875 .250 7.625 .0400 7.585 11/01/2027
600103767 Shih James C. 7.875 .250 7.625 .0400 7.585 10/01/2027
600103768 Leonhardt Wayne C. 7.875 .250 7.625 .0400 7.585 11/01/2027
600103769 Rosser James M. 8.250 .250 8.000 .0400 7.960 11/01/2027
600103770 Wayne Lawrence R 8.125 .250 7.875 .0400 7.835 11/01/2027
600103771 Abate Adey 8.125 .250 7.875 .0400 7.835 10/01/2027
600103772 Hayes Christophe 8.125 .250 7.875 .0400 7.835 10/01/2027
600103773 Patrick John 8.750 .250 8.500 .0400 8.460 11/01/2027
600103774 Renzi I I I Nicholas 8.625 .250 8.375 .0400 8.335 11/01/2027
600103775 Mordecai David 7.875 .250 7.625 .0400 7.585 11/01/2027
600103776 Oviatt, Jr. Lamon A. 8.250 .250 8.000 .0400 7.960 10/01/2027
600103777 Mirasole Stephano 8.125 .250 7.875 .0400 7.835 10/01/2027
600103779 Mkroyan Thomas T. 8.250 .250 8.000 .0400 7.960 11/01/2027
600103780 Krijestorac Sammy 8.250 .250 8.000 .0400 7.960 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103766 Schletz Jon 273383 $2,368.44 11/01/1997 360
600103767 Shih James C. 273390 $1,856.18 11/01/1997 360
600103768 Leonhardt Wayne C. 273391 $2,102.70 11/01/1997 360
600103769 Rosser James M. 273578 $2,614.41 11/01/1997 360
600103770 Wayne Lawrence R 273605 $3,296.69 11/01/1997 360
600103771 Abate Adey 273644 $1,603.79 11/01/1997 360
600103772 Hayes Christophe 273647 $1,989.89 11/01/1997 360
600103773 Patrick John 273669 $2,989.49 11/01/1997 360
600103774 Renzi I I I Nicholas 273673 $4,231.96 11/01/1997 360
600103775 Mordecai David 273690 $2,943.78 11/01/1997 360
600103776 Oviatt, Jr. Lamon A. 273709 $1,893.19 11/01/1997 360
600103777 Mirasole Stephano 273804 $2,732.39 11/01/1997 360
600103779 Mkroyan Thomas T. 273938 $1,887.56 11/01/1997 360
600103780 Krijestorac Sammy 274115 $3,455.83 11/01/1997 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>
600103766 Schletz Jon $475,000.00 N
600103767 Shih James C. $320,000.00 N
600103768 Leonhardt Wayne C. $380,000.00 N
600103769 Rosser James M. $460,500.00 N
600103770 Wayne Lawrence R $625,000.00 N
600103771 Abate Adey $270,000.00 N
600103772 Hayes Christophe $335,000.00 N
600103773 Patrick John $475,000.00 N
600103774 Renzi I I I Nicholas $749,000.00 N
600103775 Mordecai David $1,020,000.00 N
600103776 Oviatt, Jr. Lamon A. $315,000.00 N
600103777 Mirasole Stephano $460,000.00 N
600103779 Mkroyan Thomas T. $360,000.00 N
600103780 Krijestorac Sammy $575,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 64
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103781 Vo Michael 1099 Ruge Drive San Jose CA 95132 $214,703.11
600103782 Stehly Jerome J. 3602 Plumosa Drive San Diego CA 92106 $230,641.17
600103783 Lee Ching Yeun 1133 Tewa Court Fremont CA 94539 $649,606.19
600103784 Campbell Bruce D 221 Vista Verde Way Menlo Park CA 94028 $399,757.68
600103785 Rushton Kevin M. 435 Manor Drive Pacifica CA 94044 $220,000.00
600103786 Scheel Norman Fra 35421 Paseo Viento Dana Point CA 92624 $287,600.00
600103787 Marchant Mary E. 821 Lilac Way Los Gatos CA 95032 $448,500.00
600103788 Nguyen Nguyen Van 11 Festivo Irvine CA 92606 $238,847.60
600103789 Wiener Myles J 7 Brentwood Drive Manalapan NJ 7726 $295,317.29
600103790 Lockwood Timothy 22589 Alcalde Road Cupertino CA 95014 $383,300.00
600103791 Jamison Craig 2421 Van Layden Way Modesto CA 95356 $288,401.20
600103792 Padilla Anthony J 10431 Northvale Road Los Angeles CA 90064 $272,750.00
600103793 Layne Marva 300 Sky Ridge Road Franklin Lakes NJ 7417 $639,375.00
600103794 Scheck Sondra 5180 Gaynor Avenue Encino CA 91436 $325,600.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103781 Vo Michael 7.875 .250 7.625 .0400 7.585 10/01/2027
600103782 Stehly Jerome J. 7.875 .250 7.625 .0400 7.585 10/01/2027
600103783 Lee Ching Yeun 8.500 .250 8.250 .0400 8.210 10/01/2027
600103784 Campbell Bruce D 8.500 .250 8.250 .0400 8.210 10/01/2027
600103785 Rushton Kevin M. 7.875 .250 7.625 .0400 7.585 11/01/2027
600103786 Scheel Norman Fra 7.750 .250 7.500 .0400 7.460 11/01/2027
600103787 Marchant Mary E. 7.875 .250 7.625 .0400 7.585 11/01/2027
600103788 Nguyen Nguyen Van 8.250 .250 8.000 .0400 7.960 10/01/2027
600103789 Wiener Myles J 8.875 .250 8.625 .0400 8.585 10/01/2027
600103790 Lockwood Timothy 7.875 .250 7.625 .0400 7.585 11/01/2027
600103791 Jamison Craig 7.875 .250 7.625 .0400 7.585 10/01/2027
600103792 Padilla Anthony J 8.000 .250 7.750 .0400 7.710 11/01/2027
600103793 Layne Marva 8.750 .250 8.500 .0400 8.460 11/01/2027
600103794 Scheck Sondra 8.125 .250 7.875 .0400 7.835 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103781 Vo Michael 274134 $1,558.90 11/01/1997 360
600103782 Stehly Jerome J. 274161 $1,673.46 11/01/1997 360
600103783 Lee Ching Yeun 274173 $4,997.98 11/01/1997 360
600103784 Campbell Bruce D 274309 $3,075.65 11/01/1997 360
600103785 Rushton Kevin M. 274502 $1,595.15 12 11/01/1997 360
600103786 Scheel Norman Fra 274707 $2,060.40 11/01/1997 360
600103787 Marchant Mary E. 274855 $3,251.94 11/01/1997 360
600103788 Nguyen Nguyen Van 274963 $1,795.53 11/01/1997 360
600103789 Wiener Myles J 275041 $2,352.32 11/01/1997 360
600103790 Lockwood Timothy 275131 $2,779.19 11/01/1997 360
600103791 Jamison Craig 275132 $2,094.00 11/01/1997 360
600103792 Padilla Anthony J 275196 $2,001.34 1 11/01/1997 360
600103793 Layne Marva 275397 $5,029.97 11/01/1997 360
600103794 Scheck Sondra 275552 $2,417.57 11/01/1997 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>
600103781 Vo Michael $269,000.00 N
600103782 Stehly Jerome J. $288,500.00 N
600103783 Lee Ching Yeun $988,000.00 N
600103784 Campbell Bruce D $830,000.00 N
600103785 Rushton Kevin M. $250,000.00 N
600103786 Scheel Norman Fra $359,500.00 N
600103787 Marchant Mary E. $690,000.00 N
600103788 Nguyen Nguyen Van $298,865.00 N
600103789 Wiener Myles J $369,600.00 N
600103790 Lockwood Timothy $500,000.00 N
600103791 Jamison Craig $361,000.00 N
600103792 Padilla Anthony J $306,500.00 N
600103793 Layne Marva $852,500.00 N
600103794 Scheck Sondra $407,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 65
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103795 Poprac John J. 3109 Onrado Street Torrance CA 90503 $247,920.00
600103796 Khan Mohammad S 3074 Paseo Granada Pleasanton CA 94566 $321,500.00
600103797 Mansfield John M. 9291 Pikes Peak Way Parker CO 80134 $616,000.00
600103798 Reinhert Bruce Edwa 3157 Waakea Place Kihei HI 96753 $359,584.25
600103799 Cooperman Jack G. 1218 Kotenberg Avenue San Jose CA 95125 $354,711.83
600103800 Peace Stuart 1551 Gibson Highlands El Cajon CA 92021 $376,000.00
600103801 Nordstrom Brad 2811 Van Buren Street Alameda CA 94501 $269,600.00
600103802 Sanchez Joseph 2747 Treetops Way Santa Rosa CA 95404 $360,000.00
600103803 Kruger Chris C. 91 S. Leigh Avenue Campbell CA 95008 $278,143.60
600103804 Basravi Navaz M. 34446 Calgary Terrace Fremont CA 94555 $238,000.00
600103805 Fox James Edwi 30 E. Altarinda Drive Orinda CA 94563 $353,099.26
600103806 Strohauer David M. 41 Ora Way San Francisco CA 94131 $225,000.00
600103807 Beaner Gary P. 3024 Zane Grey Terrace Altadena CA 91001 $292,000.00
600103808 Marietti Larry J. 2701 Highland Hills Drive El Dorado Hills CA 95762 $364,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103795 Poprac John J. 7.750 .250 7.500 .0400 7.460 11/01/2027
600103796 Khan Mohammad S 8.500 .250 8.250 .0400 8.210 11/01/2027
600103797 Mansfield John M. 7.750 .250 7.500 .0400 7.460 11/01/2027
600103798 Reinhert Bruce Edwa 8.750 .250 8.500 .0400 8.460 10/01/2027
600103799 Cooperman Jack G. 8.000 .250 7.750 .0400 7.710 10/01/2027
600103800 Peace Stuart 8.125 .250 7.875 .0400 7.835 11/01/2027
600103801 Nordstrom Brad 7.750 .250 7.500 .0400 7.460 11/01/2027
600103802 Sanchez Joseph 8.375 .250 8.125 .0400 8.085 11/01/2027
600103803 Kruger Chris C. 8.250 .250 8.000 .0400 7.960 10/01/2027
600103804 Basravi Navaz M. 8.375 .250 8.125 .0400 8.085 11/01/2027
600103805 Fox James Edwi 7.750 .250 7.500 .0400 7.460 10/01/2027
600103806 Strohauer David M. 8.000 .250 7.750 .0400 7.710 11/01/2027
600103807 Beaner Gary P. 7.750 .250 7.500 .0400 7.460 11/01/2027
600103808 Marietti Larry J. 8.000 .250 7.750 .0400 7.710 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103795 Poprac John J. 275556 $1,776.13 11/01/1997 360
600103796 Khan Mohammad S 275574 $2,472.06 11/01/1997 360
600103797 Mansfield John M. 275768 $4,413.10 11/01/1997 360
600103798 Reinhert Bruce Edwa 275893 $2,832.12 11/01/1997 360
600103799 Cooperman Jack G. 276156 $2,604.50 11/01/1997 360
600103800 Peace Stuart 276193 $2,791.79 11/01/1997 360
600103801 Nordstrom Brad 276233 $1,931.45 11/01/1997 360
600103802 Sanchez Joseph 276235 $2,736.26 11/01/1997 360
600103803 Kruger Chris C. 276253 $2,092.28 11/01/1997 360
600103804 Basravi Navaz M. 276256 $1,808.97 11/01/1997 360
600103805 Fox James Edwi 276280 $2,533.23 11/01/1997 360
600103806 Strohauer David M. 276447 $1,650.97 11/01/1997 360
600103807 Beaner Gary P. 276474 $2,091.92 11/01/1997 360
600103808 Marietti Larry J. 276567 $2,670.90 11/01/1997 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>
600103795 Poprac John J. $309,900.00 N
600103796 Khan Mohammad S $430,000.00 N
600103797 Mansfield John M. $770,000.00 N
600103798 Reinhert Bruce Edwa $480,000.00 N
600103799 Cooperman Jack G. $443,700.00 N
600103800 Peace Stuart $470,000.00 N
600103801 Nordstrom Brad $337,500.00 N
600103802 Sanchez Joseph $532,500.00 N
600103803 Kruger Chris C. $373,000.00 N
600103804 Basravi Navaz M. $298,050.00 N
600103805 Fox James Edwi $442,000.00 N
600103806 Strohauer David M. $580,000.00 N
600103807 Beaner Gary P. $365,000.00 N
600103808 Marietti Larry J. $455,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 66
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103809 Kutsal Mehmet D. 5012 Union Mine Drive Antioch CA 94509 $265,133.36
600103811 Vanden Berg Kirk Old Quarry Road Alpine NJ 7620 $772,000.00
600103812 Grimes James 2590 Bethany Creek Ct Alpharetta GA 30201 $330,765.23
600103813 Carter Cynthia 884 Robin Circle Arroyo Grande CA 93420 $248,673.13
600103814 Martos John 123 Victoria Road Burlingame CA 94010 $347,000.00
600103815 Mulvey Patrick S. 110 Willow Drive Danville CA 94526 $255,655.31
600103816 Samiee Salahudin 304 Willow Road Menlo Park CA 94025 $244,000.00
600103817 Shah Jayesh 131 Northampton Lane Belmont CA 94002 $293,000.00
600103818 Somogyi Christophe 68-1375 Pauoa Street J-1 Kamuela HI 96743 $339,000.00
600103819 Love Cobain Courtney 8910 Bordeaux Road Rochester WA 98122 $280,000.00
600103820 Takahashi Wayne 7755 Oak Bay Circle Sacramento CA 95831 $328,000.00
600103821 Wraa Alan N. 262 El Pueblo Place Clayton CA 94517 $264,500.00
600103822 Koop Ann-marie 4001 N.E. 27th Terrace Lighthouse Poin FL 33064 $223,600.00
600103823 Anderson Kevin A 188 Crest View Drive Orinda CA 94563 $332,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103809 Kutsal Mehmet D. 7.875 .250 7.625 .0400 7.585 10/01/2027
600103811 Vanden Berg Kirk 8.375 .250 8.125 .0400 8.085 11/01/2027
600103812 Grimes James 8.125 .250 7.875 .0400 7.835 09/01/2027
600103813 Carter Cynthia 8.125 .250 7.875 .0400 7.835 09/01/2027
600103814 Martos John 7.750 .250 7.500 .0400 7.460 11/01/2027
600103815 Mulvey Patrick S. 8.000 .250 7.750 .0400 7.710 10/01/2027
600103816 Samiee Salahudin 8.250 .250 8.000 .0400 7.960 11/01/2027
600103817 Shah Jayesh 8.500 .250 8.250 .0400 8.210 11/01/2027
600103818 Somogyi Christophe 8.375 .250 8.125 .0400 8.085 11/01/2027
600103819 Love Cobain Courtney 7.875 .250 7.625 .0400 7.585 11/01/2027
600103820 Takahashi Wayne 7.875 .250 7.625 .0400 7.585 11/01/2027
600103821 Wraa Alan N. 7.875 .250 7.625 .0400 7.585 11/01/2027
600103822 Koop Ann-marie 8.500 .250 8.250 .0400 8.210 11/01/2027
600103823 Anderson Kevin A 8.000 .250 7.750 .0400 7.710 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103809 Kutsal Mehmet D. 276596 $1,925.06 1 11/01/1997 360
600103811 Vanden Berg Kirk 276705 $5,867.76 11/01/1997 360
600103812 Grimes James 276793 $2,459.15 12 11/01/1997 360
600103813 Carter Cynthia 276825 $1,848.82 7 11/01/1997 360
600103814 Martos John 276840 $2,485.95 11/01/1997 360
600103815 Mulvey Patrick S. 276856 $1,878.44 11/01/1997 360
600103816 Samiee Salahudin 276859 $1,833.09 11/01/1997 360
600103817 Shah Jayesh 277134 $2,252.92 11/01/1997 360
600103818 Somogyi Christophe 277238 $2,576.64 11/01/1997 360
600103819 Love Cobain Courtney 277292 $2,030.19 11/01/1997 360
600103820 Takahashi Wayne 277459 $2,378.23 11/01/1997 360
600103821 Wraa Alan N. 277477 $1,917.81 11/01/1997 360
600103822 Koop Ann-marie 277565 $1,719.29 11/01/1997 360
600103823 Anderson Kevin A 277595 $2,436.10 11/01/1997 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>
600103809 Kutsal Mehmet D. $280,000.00 N
600103811 Vanden Berg Kirk $965,000.00 N
600103812 Grimes James $368,000.00 N
600103813 Carter Cynthia $293,000.00 N
600103814 Martos John $455,000.00 N
600103815 Mulvey Patrick S. $360,000.00 N
600103816 Samiee Salahudin $305,000.00 N
600103817 Shah Jayesh $375,000.00 N
600103818 Somogyi Christophe $565,000.00 N
600103819 Love Cobain Courtney $350,000.00 N
600103820 Takahashi Wayne $423,000.00 N
600103821 Wraa Alan N. $350,000.00 N
600103822 Koop Ann-marie $279,500.00 N
600103823 Anderson Kevin A $530,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 67
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103824 Christensen Marie Dian 178 El Sueno Road Santa Barbara CA 93110 $228,000.00
600103825 Clemons Charles 926 Rain Tree Place Lafayette CA 94549 $400,000.00
600103826 Rainey Robert J. 7 Dion Laguna Niguel CA 92677 $232,000.00
600103827 Chapin Alvin A. 1514 Ronne Drive Santa Rosa CA 95404 $262,055.53
600103828 Kempkey, Iii Edwin J. 1055 Lorraine Drive Napa CA 94558 $319,610.90
600103829 Franzi Richard A. 3 Siega Rancho Santa Ma CA 92688 $274,800.00
600103830 Kronholm Conrad 615 Frances Street Key West FL 33040 $311,250.00
600103831 Stahler Melvin 6025 Ellenview Avenue Woodland Hills CA 91367 $273,000.00
600103832 Chu Mario 5122 Doreen Ave Temple City CA 91780 $243,836.28
600103833 Smith Wayne L. 669 Los Ninos Way Los Altos CA 94022 $457,000.00
600103834 Salony R. Andrew 3015 La Costa Avenue Carlsbad CA 92009 $373,500.00
600103835 Borg David 431 Markham Avenue San Bruno CA 94066 $252,800.00
600103836 Janikula Gary F 6 Holman Road Carmel Valley CA 93924 $292,000.00
600103837 Ades Steven M 19617 Valdez Drive Tarzana CA 91356 $292,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103824 Christensen Marie Dian 7.875 .250 7.625 .0400 7.585 11/01/2027
600103825 Clemons Charles 7.750 .250 7.500 .0400 7.460 11/01/2027
600103826 Rainey Robert J. 7.875 .250 7.625 .0400 7.585 11/01/2027
600103827 Chapin Alvin A. 8.125 .250 7.875 .0400 7.835 10/01/2027
600103828 Kempkey, Iii Edwin J. 8.500 .250 8.250 .0400 8.210 10/01/2027
600103829 Franzi Richard A. 7.875 .250 7.625 .0400 7.585 11/01/2027
600103830 Kronholm Conrad 8.500 .250 8.250 .0400 8.210 11/01/2027
600103831 Stahler Melvin 7.750 .250 7.500 .0400 7.460 11/01/2027
600103832 Chu Mario 8.000 .250 7.750 .0400 7.710 10/01/2027
600103833 Smith Wayne L. 7.875 .250 7.625 .0400 7.585 11/01/2027
600103834 Salony R. Andrew 7.750 .250 7.500 .0400 7.460 11/01/2027
600103835 Borg David 7.750 .250 7.500 .0400 7.460 11/01/2027
600103836 Janikula Gary F 7.875 .250 7.625 .0400 7.585 11/01/2027
600103837 Ades Steven M 7.875 .250 7.625 .0400 7.585 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103824 Christensen Marie Dian 277696 $1,653.16 11/01/1997 360
600103825 Clemons Charles 277763 $2,865.65 11/01/1997 360
600103826 Rainey Robert J. 277781 $1,682.17 11/01/1997 360
600103827 Chapin Alvin A. 277978 $1,948.32 11/01/1997 360
600103828 Kempkey, Iii Edwin J. 277979 $2,460.53 11/01/1997 360
600103829 Franzi Richard A. 278010 $1,992.49 11/01/1997 360
600103830 Kronholm Conrad 278093 $2,393.24 11/01/1997 360
600103831 Stahler Melvin 278215 $1,955.81 11/01/1997 360
600103832 Chu Mario 278285 $1,790.39 11/01/1997 360
600103833 Smith Wayne L. 278382 $3,313.57 11/01/1997 360
600103834 Salony R. Andrew 278457 $2,675.80 11/01/1997 360
600103835 Borg David 278548 $1,811.09 11/01/1997 360
600103836 Janikula Gary F 278658 $2,117.20 11/01/1997 360
600103837 Ades Steven M 278662 $2,117.20 11/01/1997 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>
600103824 Christensen Marie Dian $285,000.00 N
600103825 Clemons Charles $600,000.00 N
600103826 Rainey Robert J. $290,000.00 N
600103827 Chapin Alvin A. $328,000.00 N
600103828 Kempkey, Iii Edwin J. $400,000.00 N
600103829 Franzi Richard A. $355,000.00 N
600103830 Kronholm Conrad $425,000.00 N
600103831 Stahler Melvin $350,000.00 N
600103832 Chu Mario $305,000.00 N
600103833 Smith Wayne L. $590,000.00 N
600103834 Salony R. Andrew $510,000.00 N
600103835 Borg David $316,000.00 N
600103836 Janikula Gary F $365,000.00 N
600103837 Ades Steven M $365,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 68
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103838 Poss William J 849 Mountain Laurel Drive Aspen CO 81611 $900,000.00
600103839 Wildwood Sarah D. 3007 Serena Rd Santa Barbara CA 93105 $250,000.00
600103840 Vournas Theodore C 441 West Scenic Drive Monrovia CA 91016 $272,000.00
600103841 Hulkower Walter 320 S Canon Drive Beverly Hills CA 90212 $278,000.00
600103842 Jacobs David 1304 Rebecca Drive Livermore CA 94550 $321,705.12
600103843 Brown James D 8889 County Road 102 Elbert CO 80106 $252,000.00
600103844 Judy J Lawrence 342 West Bellevue Drive Pasadena CA 91105 $400,000.00
600103845 Stone Jr Charles W. 30510 Via Cantamar Escondido CA 92026 $385,300.00
600103846 Rao Ranakrishn 1531 Casa De Ponselle San Jose CA 95118 $263,200.00
600103847 Caballero Eduardo 1643 Brickell Avenue Apt Miami FL 33129 $480,000.00
600103848 Yuponce Wendell 8419 Belford Ave. Los Angeles CA 90045 $280,000.00
600103849 Bullard, Jr. John A. 16700 Fitzpatrick Lane Occidental CA 95465 $318,801.82
600103850 Sadjadi Reza S. M. 12241 Saraglen Drive Saratoga CA 95070 $389,600.00
600103851 Nagle David 77 Roble Rd Oakland CA 94618 $439,422.41
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103838 Poss William J 8.000 .250 7.750 .0400 7.710 11/01/2027
600103839 Wildwood Sarah D. 7.875 .250 7.625 .0400 7.585 11/01/2027
600103840 Vournas Theodore C 7.750 .250 7.500 .0400 7.460 11/01/2027
600103841 Hulkower Walter 7.750 .250 7.500 .0400 7.460 11/01/2027
600103842 Jacobs David 7.875 .250 7.625 .0400 7.585 10/01/2027
600103843 Brown James D 7.625 .250 7.375 .0400 7.335 11/01/2027
600103844 Judy J Lawrence 7.750 .250 7.500 .0400 7.460 11/01/2027
600103845 Stone Jr Charles W. 8.625 .250 8.375 .0400 8.335 11/01/2027
600103846 Rao Ranakrishn 8.625 .250 8.375 .0400 8.335 11/01/2027
600103847 Caballero Eduardo 8.750 .250 8.500 .0400 8.460 11/01/2027
600103848 Yuponce Wendell 8.125 .250 7.875 .0400 7.835 11/01/2027
600103849 Bullard, Jr. John A. 8.375 .250 8.125 .0400 8.085 10/01/2027
600103850 Sadjadi Reza S. M. 7.875 .250 7.625 .0400 7.585 11/01/2027
600103851 Nagle David 8.125 .250 7.875 .0400 7.835 09/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103838 Poss William J 278675 $6,603.89 11/01/1997 360
600103839 Wildwood Sarah D. 278691 $1,812.68 11/01/1997 360
600103840 Vournas Theodore C 278882 $1,948.64 11/01/1997 360
600103841 Hulkower Walter 278925 $1,991.63 11/01/1997 360
600103842 Jacobs David 279011 $2,335.82 12 11/01/1997 360
600103843 Brown James D 279038 $1,783.64 11/01/1997 360
600103844 Judy J Lawrence 279061 $2,865.65 11/01/1997 360
600103845 Stone Jr Charles W. 279080 $2,996.82 11/01/1997 360
600103846 Rao Ranakrishn 279294 $2,047.14 11/01/1997 360
600103847 Caballero Eduardo 279332 $3,776.16 11/01/1997 360
600103848 Yuponce Wendell 279663 $2,078.99 11/01/1997 360
600103849 Bullard, Jr. John A. 279681 $2,426.15 11/01/1997 360
600103850 Sadjadi Reza S. M. 279719 $2,824.87 11/01/1997 360
600103851 Nagle David 279896 $3,266.99 11/01/1997 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>
600103838 Poss William J $1,500,000.00 N
600103839 Wildwood Sarah D. $515,000.00 N
600103840 Vournas Theodore C $340,000.00 N
600103841 Hulkower Walter $700,000.00 N
600103842 Jacobs David $357,987.00 N
600103843 Brown James D $315,000.00 N
600103844 Judy J Lawrence $500,000.00 N
600103845 Stone Jr Charles W. $510,000.00 N
600103846 Rao Ranakrishn $330,000.00 N
600103847 Caballero Eduardo $781,300.00 N
600103848 Yuponce Wendell $330,000.00 N
600103849 Bullard, Jr. John A. $399,000.00 N
600103850 Sadjadi Reza S. M. $487,000.00 N
600103851 Nagle David $550,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 69
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103852 Mcfarlane Jeffrey L. 3007 Hermosa Santa Barbara CA 93105 $247,000.00
600103853 Davis Gordon Lot 4 Pearl Block No. 2 Portland OR 97209 $269,636.47
600103854 Marr Christophe 1120 Kensington Avenue Sunnyvale CA 94087 $399,200.00
600103855 Nazarian Frank F. 737 Loma Verde Avenue #2 Palo Alto CA 94303 $243,000.00
600103856 Price George M 5710 Augusta Court Discovery Bay CA 94514 $268,000.00
600103857 Lloyd Robert E 26707 Tanglewood Lane Los Altos CA 94022 $330,000.00
600103858 Suchy Robert F. 4201 Se Riverside Loop Mcminnville OR 97128 $250,000.00
600104337 KULL DAVID M 11767 LERDO AVENUE LOS ANGELES CA 91344 $387,214.76
600104338 WENNSTROM CREIGE D 7425 MIDFIELD AVENUE LOS ANGELES CA 90045 $210,200.45
600104339 GOODE MICHAEL D 30161 ANAMONTE LAGUNA NIGUEL CA 92677 $261,492.35
600104340 WHEELER PEGGY A 5450 KAVENY DRIVE SAN JOSE CA 95129 $319,528.21
600104341 SILAZZO WAYNE T 26512 DEEPBROOK DRIVE RANCHO PALOS VE CA 90275 $330,433.79
600104342 WEPPNER MICHAEL E 21 WOODCUT LANE NEW ROCHELLE NY 10804 $252,778.21
600104343 GREEN ALAN L 5 LOCUST AVENUE ROSS CA 94957 $285,154.06
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103852 Mcfarlane Jeffrey L. 8.000 .250 7.750 .0400 7.710 11/01/2027
600103853 Davis Gordon 8.000 .250 7.750 .0400 7.710 09/01/2027
600103854 Marr Christophe 8.500 .250 8.250 .0400 8.210 11/01/2027
600103855 Nazarian Frank F. 8.500 .250 8.250 .0400 8.210 11/01/2027
600103856 Price George M 7.875 .250 7.625 .0400 7.585 11/01/2027
600103857 Lloyd Robert E 7.875 .250 7.625 .0400 7.585 11/01/2027
600103858 Suchy Robert F. 7.375 .250 7.125 .0400 7.085 11/01/2027
600104337 KULL DAVID M 8.750 .250 8.500 .0500 8.450 05/01/2021
600104338 WENNSTROM CREIGE D 8.750 .250 8.500 .0500 8.450 08/01/2021
600104339 GOODE MICHAEL D 8.750 .250 8.500 .0500 8.450 08/01/2021
600104340 WHEELER PEGGY A 9.000 .250 8.750 .0500 8.700 03/01/2022
600104341 SILAZZO WAYNE T 8.750 .250 8.500 .0500 8.450 09/01/2022
600104342 WEPPNER MICHAEL E 8.375 .250 8.125 .0500 8.075 09/01/2022
600104343 GREEN ALAN L 8.875 .250 8.625 .0500 8.575 04/01/2023
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600103852 Mcfarlane Jeffrey L. 279935 $1,812.40 11/01/1997 360
600103853 Davis Gordon 280537 $1,981.16 11/01/1997 360
600103854 Marr Christophe 280608 $3,069.50 11/01/1997 360
600103855 Nazarian Frank F. 280833 $1,868.46 11/01/1997 360
600103856 Price George M 282110 $1,943.19 11/01/1997 360
600103857 Lloyd Robert E 282396 $2,392.73 11/01/1997 360
600103858 Suchy Robert F. 282792 $1,726.69 11/01/1997 360
600104337 KULL DAVID M 2496263 $3,241.20 11/01/1997 360
600104338 WENNSTROM CREIGE D 2520427 $1,753.90 11/01/1997 360
600104339 GOODE MICHAEL D 2549913 $2,181.87 11/01/1997 360
600104340 WHEELER PEGGY A 2680213 $2,701.26 11/01/1997 360
600104341 SILAZZO WAYNE T 2844306 $2,721.72 11/01/1997 360
600104342 WEPPNER MICHAEL E 2855120 $2,019.39 11/01/1997 360
600104343 GREEN ALAN L 3019569 $2,358.14 11/01/1997 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>
600103852 Mcfarlane Jeffrey L. $500,000.00 N
600103853 Davis Gordon $450,000.00 N
600103854 Marr Christophe $499,000.00 N
600103855 Nazarian Frank F. $363,000.00 N
600103856 Price George M $335,000.00 N
600103857 Lloyd Robert E $1,477,000.00 N
600103858 Suchy Robert F. $339,900.00 N
600104337 KULL DAVID M $555,000.00 N
600104338 WENNSTROM CREIGE D $285,000.00 N
600104339 GOODE MICHAEL D $380,000.00 N
600104340 WHEELER PEGGY A $515,000.00 N
600104341 SILAZZO WAYNE T $500,000.00 N
600104342 WEPPNER MICHAEL E $335,000.00 N
600104343 GREEN ALAN L $630,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 70
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104344 LOWENTHAL ALAN S 2809E 1ST ST LONG BEACH CA 90803 $299,416.34
600104345 NGUYEN TUYET N 2317NW94TH STREET SEATTLE WA 98117 $236,311.60
600104346 GRESHAM TEDROW R 5029 VALLEY RDG AVE LOS ANGELES CA 90043 $240,419.91
600104347 KONOW STEVEN F 22233 DOLOROSA STREET LOS ANGELES CA 91367 $239,366.32
600104355 JAYNE STEPHEN B 50 DUNE RD WEST HAMPTON BE NY 11978 $298,185.15
600104356 WOOD JR GEORGE P 1349 THUNDERBIRD PL CHULA VISTA CA 91915 $233,447.29
600104357 COHEN LARRY 12 HILL & TREE CT MELVILLE NY 11747 $397,775.71
600104358 SHARMA ANNU 6 NIDDEN IRVINE CA 92612 $631,255.25
600104361 BAGNALL BRIAN K 14 LORCA CT SAN RAMON CA 94580 $272,535.02
600104364 PIETERS GERALD R 394 YELLOWSTONE DR MORGAN HILL CA 95037 $291,816.32
600104365 ELMORE DAVID F 2501 HAYWARD DR BURLINGAME CA 94010 $533,863.90
600104367 FREEMAN BERKLEY I 8494W FORK RD BOULDER CO 80302 $235,256.21
600104368 GELBER AARON 11 CLUBWAY HARTSDALE NY 10530 $418,876.38
600104369 CONCIATORI EMILIO 1814 MORNINGVIEW DR YORKTOWN HEIGHT NY 10598 $224,555.46
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104344 LOWENTHAL ALAN S 8.875 .250 8.625 .0500 8.575 08/01/2023
600104345 NGUYEN TUYET N 8.875 .250 8.625 .0500 8.575 06/01/2024
600104346 GRESHAM TEDROW R 9.000 .250 8.750 .0500 8.700 09/01/2024
600104347 KONOW STEVEN F 8.500 .250 8.250 .0500 8.200 12/01/2024
600104355 JAYNE STEPHEN B 8.125 .250 7.875 .0500 7.825 02/01/2027
600104356 WOOD JR GEORGE P 7.875 .250 7.625 .0500 7.575 04/01/2027
600104357 COHEN LARRY 7.250 .250 7.000 .0500 6.950 04/01/2027
600104358 SHARMA ANNU 8.000 .250 7.750 .0500 7.700 04/01/2027
600104361 BAGNALL BRIAN K 8.250 .250 8.000 .0500 7.950 05/01/2027
600104364 PIETERS GERALD R 8.500 .250 8.250 .0500 8.200 05/01/2027
600104365 ELMORE DAVID F 8.000 .250 7.750 .0500 7.700 06/01/2027
600104367 FREEMAN BERKLEY I 8.375 .250 8.125 .0500 8.075 06/01/2027
600104368 GELBER AARON 7.375 .250 7.125 .0500 7.075 08/01/2027
600104369 CONCIATORI EMILIO 8.125 .250 7.875 .0500 7.825 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104344 LOWENTHAL ALAN S 3064094 $2,467.62 11/01/1997 360
600104345 NGUYEN TUYET N 3419421 $1,931.85 11/01/1997 360
600104346 GRESHAM TEDROW R 3429073 $1,981.87 97 11/01/1997 360
600104347 KONOW STEVEN F 3538576 $1,885.72 14 11/01/1997 360
600104355 JAYNE STEPHEN B 4101051 $2,227.50 11/01/1997 360
600104356 WOOD JR GEORGE P 4123105 $1,701.02 11/01/1997 360
600104357 COHEN LARRY 4136057 $2,728.71 11/01/1997 360
600104358 SHARMA ANNU 4139267 $4,659.41 11/01/1997 360
600104361 BAGNALL BRIAN K 4181160 $2,055.47 11/01/1997 360
600104364 PIETERS GERALD R 4201539 $2,252.15 11/01/1997 360
600104365 ELMORE DAVID F 4209458 $3,938.85 11/01/1997 360
600104367 FREEMAN BERKLEY I 4220679 $1,793.78 11/01/1997 360
600104368 GELBER AARON 4239679 $2,900.84 11/01/1997 360
600104369 CONCIATORI EMILIO 4239687 $1,670.62 11 11/01/1997 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>
600104344 LOWENTHAL ALAN S $450,000.00 N
600104345 NGUYEN TUYET N $305,000.00 N
600104346 GRESHAM TEDROW R $275,000.00 N
600104347 KONOW STEVEN F $280,000.00 N
600104355 JAYNE STEPHEN B $500,000.00 N
600104356 WOOD JR GEORGE P $312,800.00 N
600104357 COHEN LARRY $725,000.00 N
600104358 SHARMA ANNU $960,000.00 N
600104361 BAGNALL BRIAN K $342,000.00 N
600104364 PIETERS GERALD R $366,500.00 N
600104365 ELMORE DAVID F $671,000.00 N
600104367 FREEMAN BERKLEY I $295,000.00 N
600104368 GELBER AARON $525,000.00 N
600104369 CONCIATORI EMILIO $250,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 71
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104370 EPSTEIN NANCY 15 TYLER RD SCARSDALE NY 10583 $249,506.05
600104371 OVERHOLT DAVID G 117 -119 N ORANGE D LOS ANGELES CA 90036 $244,246.77
600104372 INGOGLIA JOSEPH P 796S GENEVIEVE LN SAN JOSE CA 95128 $269,663.18
600104373 CHENOS MARIA D 1616 CAMINO DE BURBANK CA 91501 $292,814.36
600104374 WACHTER MARK C 954 DE SOTO LN FOSTER CITY CA 94404 $253,228.90
600104375 HANASABZADEH JOSEPH 1222 DANIELS DR LOS ANGELES CA 90038 $294,619.22
600104376 BURCKLE PHILIP C 24247 ABBEYWOOD DR LOS ANGELES CA 91307 $450,527.82
600104377 DUNLAP TERRY W 19531 DRYBROOK LN HUNTINGTON BEAC CA 92646 $257,282.77
600104379 SARRAF ABNER 814 AMHERST AVE 201 LOS ANGELES CA 90049 $230,389.40
600104381 CLEARY JEFFREY A 1337 CABRILLO AVE BURLINGAME CA 94010 $648,615.97
600104382 CHEN CHI-LIANG 8020 MANCHESTER AVE ROHNERT PARK CA 94928 $227,266.41
600104384 SHOAFF CAROL L 2401 DOWNING AVE SAN JOSE CA 95128 $330,279.26
600104385 SHPRUNG SHAI 15464 MILBANK ST LOS ANGELES CA 91436 $249,380.66
600104388 WINSHEL STEVEN A 17615 BELINDA ST LOS ANGELES CA 91316 $387,213.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104370 EPSTEIN NANCY 8.125 .250 7.875 .0500 7.825 08/01/2027
600104371 OVERHOLT DAVID G 8.750 .250 8.500 .0500 8.450 08/01/2025
600104372 INGOGLIA JOSEPH P 8.375 .250 8.125 .0500 8.075 09/01/2027
600104373 CHENOS MARIA D 8.100 .250 7.850 .0500 7.800 03/01/2027
600104374 WACHTER MARK C 7.750 .250 7.500 .0500 7.450 03/01/2027
600104375 HANASABZADEH JOSEPH 7.875 .250 7.625 .0500 7.575 06/01/2027
600104376 BURCKLE PHILIP C 8.125 .250 7.875 .0500 7.825 07/01/2027
600104377 DUNLAP TERRY W 7.875 .250 7.625 .0500 7.575 07/01/2027
600104379 SARRAF ABNER 8.125 .250 7.875 .0500 7.825 07/01/2027
600104381 CLEARY JEFFREY A 8.125 .250 7.875 .0500 7.825 08/01/2027
600104382 CHEN CHI-LIANG 7.875 .250 7.625 .0500 7.575 07/01/2027
600104384 SHOAFF CAROL L 7.875 .250 7.625 .0500 7.575 07/01/2027
600104385 SHPRUNG SHAI 7.875 .250 7.625 .0500 7.575 08/01/2027
600104388 WINSHEL STEVEN A 8.000 .250 7.750 .0500 7.700 08/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104370 EPSTEIN NANCY 4241683 $1,856.25 11/01/1997 360
600104371 OVERHOLT DAVID G 6425748 $1,954.92 11/01/1997 360
600104372 INGOGLIA JOSEPH P 7734874 $2,052.20 11/01/1997 360
600104373 CHENOS MARIA D 8207326 $2,180.77 11/01/1997 360
600104374 WACHTER MARK C 8207938 $1,824.71 11/01/1997 360
600104375 HANASABZADEH JOSEPH 8222010 $2,143.67 11/01/1997 360
600104376 BURCKLE PHILIP C 8222531 $3,367.67 6 11/01/1997 360
600104377 DUNLAP TERRY W 8223810 $1,870.68 11/01/1997 360
600104379 SARRAF ABNER 8230468 $1,715.17 11/01/1997 360
600104381 CLEARY JEFFREY A 8234452 $4,825.49 11/01/1997 360
600104382 CHEN CHI-LIANG 8235889 $1,652.44 11/01/1997 360
600104384 SHOAFF CAROL L 8241705 $2,401.43 11/01/1997 360
600104385 SHPRUNG SHAI 8244899 $1,811.95 13 11/01/1997 360
600104388 WINSHEL STEVEN A 8260127 $2,847.01 11/01/1997 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>
600104370 EPSTEIN NANCY $455,000.00 N
600104371 OVERHOLT DAVID G $400,000.00 N
600104372 INGOGLIA JOSEPH P $360,000.00 N
600104373 CHENOS MARIA D $368,000.00 N
600104374 WACHTER MARK C $410,000.00 N
600104375 HANASABZADEH JOSEPH $394,250.00 N
600104376 BURCKLE PHILIP C $504,000.00 N
600104377 DUNLAP TERRY W $333,000.00 N
600104379 SARRAF ABNER $308,100.00 N
600104381 CLEARY JEFFREY A $889,000.00 N
600104382 CHEN CHI-LIANG $285,000.00 N
600104384 SHOAFF CAROL L $414,000.00 N
600104385 SHPRUNG SHAI $278,000.00 N
600104388 WINSHEL STEVEN A $485,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 72
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104390 KRAWETZ REVITAL 4204 LEMP AVE LOS ANGELES CA 91604 $359,193.44
600104391 WISEMAN BRUCE W 5201 BECKFORD AVE LOS ANGELES CA 91356 $379,210.28
600104392 KRZEMINSKI JAMES A 32997 DENVER SPRNG DR WESTLAKE VILL CA 91361 $490,951.51
600104393 LOGIE HANS D 907 WOODLAND AVE SAN CARLOS CA 94070 $262,909.63
600104394 CAROFF MICHAEL 15224 DEL GADO DR LOS ANGELES CA 91423 $259,431.84
600104395 WITHERELL RALPH W 38 HEATHER LN ORINDA CA 94563 $599,192.14
600104396 BRIAN DOROTHY A 10355 TIOGA LAKE DR ESCONDIDO CA 92029 $399,710.49
600104397 FLYNN MICHAEL J 530 CHERRY AVE SAN BRUNO CA 94066 $273,873.37
600104398 ARMAN ALEXANDER 9725 GLEN RD POTOMAC MD 20854 $271,390.60
600104400 JENKINS STEPHEN W 26481 VIA MARINA MISSION VIEJO CA 92691 $294,571.62
600104401 FASSETT MARTIN D 77300 IROQUOIS DR INDIAN WELLS CA 92210 $452,541.84
600104403 BRECKNER JOSEPH N 4165 DIXIE CANYN AVE LOS ANGELES CA 91423 $308,800.91
600104404 FOWLER DANIEL E 1509E BALBOA BLVD NEWPORT BEACH CA 92661 $354,996.56
600104405 ROSENWASSER SEYMOUR 871 LEONARD RD LOS ANGELES CA 90049 $570,607.04
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104390 KRAWETZ REVITAL 7.500 .250 7.250 .0500 7.200 08/01/2027
600104391 WISEMAN BRUCE W 7.875 .250 7.625 .0500 7.575 08/01/2027
600104392 KRZEMINSKI JAMES A 7.750 .250 7.500 .0500 7.450 08/01/2027
600104393 LOGIE HANS D 7.500 .250 7.250 .0500 7.200 08/01/2027
600104394 CAROFF MICHAEL 7.625 .250 7.375 .0500 7.325 08/01/2027
600104395 WITHERELL RALPH W 8.000 .250 7.750 .0500 7.700 09/01/2027
600104396 BRIAN DOROTHY A 7.625 .250 7.375 .0500 7.325 10/01/2027
600104397 FLYNN MICHAEL J 7.500 .250 7.250 .0500 7.200 08/01/2027
600104398 ARMAN ALEXANDER 7.500 .250 7.250 .0500 7.200 08/01/2027
600104400 JENKINS STEPHEN W 7.625 .250 7.375 .0500 7.325 09/01/2027
600104401 FASSETT MARTIN D 7.625 .250 7.375 .0500 7.325 09/01/2027
600104403 BRECKNER JOSEPH N 7.625 .250 7.375 .0500 7.325 09/01/2027
600104404 FOWLER DANIEL E 7.750 .250 7.500 .0500 7.450 09/01/2027
600104405 ROSENWASSER SEYMOUR 7.875 .250 7.625 .0500 7.575 10/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104390 KRAWETZ REVITAL 8268864 $2,517.18 11/01/1997 360
600104391 WISEMAN BRUCE W 8268898 $2,755.27 11/01/1997 360
600104392 KRZEMINSKI JAMES A 8269425 $3,524.75 11/01/1997 360
600104393 LOGIE HANS D 8270803 $1,842.44 11/01/1997 360
600104394 CAROFF MICHAEL 8274516 $1,840.27 11/01/1997 360
600104395 WITHERELL RALPH W 8277873 $4,402.59 11/01/1997 360
600104396 BRIAN DOROTHY A 8279812 $2,831.18 6 11/01/1997 360
600104397 FLYNN MICHAEL J 8280216 $1,926.34 11/01/1997 360
600104398 ARMAN ALEXANDER 8282337 $1,901.87 11/01/1997 360
600104400 JENKINS STEPHEN W 8285603 $2,087.99 11/01/1997 360
600104401 FASSETT MARTIN D 8289829 $3,207.72 11/01/1997 360
600104403 BRECKNER JOSEPH N 8291635 $2,188.86 17 11/01/1997 360
600104404 FOWLER DANIEL E 8291825 $2,546.85 12 11/01/1997 360
600104405 ROSENWASSER SEYMOUR 8292922 $4,140.15 11/01/1997 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>
600104390 KRAWETZ REVITAL $499,000.00 N
600104391 WISEMAN BRUCE W $475,000.00 N
600104392 KRZEMINSKI JAMES A $615,000.00 N
600104393 LOGIE HANS D $370,000.00 N
600104394 CAROFF MICHAEL $325,000.00 N
600104395 WITHERELL RALPH W $750,000.00 N
600104396 BRIAN DOROTHY A $455,000.00 N
600104397 FLYNN MICHAEL J $365,000.00 N
600104398 ARMAN ALEXANDER $340,000.00 N
600104400 JENKINS STEPHEN W $395,000.00 N
600104401 FASSETT MARTIN D $647,500.00 N
600104403 BRECKNER JOSEPH N $344,000.00 N
600104404 FOWLER DANIEL E $395,000.00 N
600104405 ROSENWASSER SEYMOUR $1,000,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 73
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104407 SOFIELD WILLIAM 2044 LAUREL CNYN LOS ANGELES CA 90046 $269,645.55
600104408 BROWN DENNIS J 410 27TH ST SAN FRANCISCO CA 94131 $322,964.55
600104409 RANSTROM JEFFREY K 747 CESTON RD BERKELEY CA 94708 $337,045.57
600104410 LAX KATHLEEN T 4243 MATILIJA AVE LOS ANGELES CA 91423 $311,558.16
600104411 WILLIAMS KATHLEEN B 460 HAWKS HILL RD SCOTTS VALLEY CA 95066 $314,542.57
600104412 SIMON LAWRENCE M 3421 EL CAMINO REAL ATHERTON CA 94027 $299,793.54
600104414 MORGAN CATHY R 15534 AQUA VERDE DR LOS ANGELES CA 90077 $340,517.09
600104416 LOWRY GEORGE C 12031 MOUND VIEW PL LOS ANGELES CA 91604 $296,800.72
600104417 SCHEIDEGGER PAUL 12 HILFERD WAY DANVILLE CA 94526 $749,457.18
600104418 MAYER PATRICK 5439 ALLOT AVE LOS ANGELES CA 91401 $358,638.17
600104420 MOEBIUS MAREN J 4760 AMIGO AVE LOS ANGELES CA 91356 $499,309.54
600104422 YOUNG JOHN ANTHONY 5515 PACIFIC AVE 4 LOS ANGELES CA 90292 $399,433.54
600104425 DROOZ ALAIN T 1901 UPPER CHELSEA R COLUMBUS OH 43212 $435,397.91
600104426 BRDLIK GEORGE C 6442 MERLIN DR CARLSBAD CA 92009 $280,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104407 SOFIELD WILLIAM 8.125 .250 7.875 .0500 7.825 09/01/2027
600104408 BROWN DENNIS J 8.000 .250 7.750 .0500 7.700 09/01/2027
600104409 RANSTROM JEFFREY K 8.000 .250 7.750 .0500 7.700 09/01/2027
600104410 LAX KATHLEEN T 7.750 .250 7.500 .0500 7.450 09/01/2027
600104411 WILLIAMS KATHLEEN B 7.625 .250 7.375 .0500 7.325 09/01/2027
600104412 SIMON LAWRENCE M 7.875 .250 7.625 .0500 7.575 10/01/2027
600104414 MORGAN CATHY R 7.750 .250 7.500 .0500 7.450 09/01/2027
600104416 LOWRY GEORGE C 8.000 .250 7.750 .0500 7.700 10/01/2027
600104417 SCHEIDEGGER PAUL 7.625 .250 7.375 .0500 7.325 10/01/2027
600104418 MAYER PATRICK 8.000 .250 7.750 .0500 7.700 10/01/2027
600104420 MOEBIUS MAREN J 7.875 .250 7.625 .0500 7.575 09/01/2027
600104422 YOUNG JOHN ANTHONY 7.750 .250 7.500 .0500 7.450 09/01/2027
600104425 DROOZ ALAIN T 7.875 .250 7.625 .0500 7.575 09/01/2027
600104426 BRDLIK GEORGE C 7.750 .250 7.500 .0500 7.450 11/01/2027
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104407 SOFIELD WILLIAM 8296329 $2,004.75 11/01/1997 360
600104408 BROWN DENNIS J 8296394 $2,373.00 11/01/1997 360
600104409 RANSTROM JEFFREY K 8296899 $2,476.46 11/01/1997 360
600104410 LAX KATHLEEN T 8296931 $2,235.21 6 11/01/1997 360
600104411 WILLIAMS KATHLEEN B 8297095 $2,229.55 11/01/1997 360
600104412 SIMON LAWRENCE M 8297202 $2,175.21 11/01/1997 360
600104414 MORGAN CATHY R 8298549 $2,442.97 11/01/1997 360
600104416 LOWRY GEORGE C 8306110 $2,179.28 13 11/01/1997 360
600104417 SCHEIDEGGER PAUL 8306995 $5,308.45 11/01/1997 360
600104418 MAYER PATRICK 8309908 $2,638.62 17 11/01/1997 360
600104420 MOEBIUS MAREN J 8313280 $3,625.35 11/01/1997 360
600104422 YOUNG JOHN ANTHONY 8319311 $2,865.65 11/01/1997 360
600104425 DROOZ ALAIN T 8321275 $3,161.31 11/01/1997 360
600104426 BRDLIK GEORGE C 8325060 $2,005.96 11/01/1997 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>
600104407 SOFIELD WILLIAM $361,000.00 N
600104408 BROWN DENNIS J $465,000.00 N
600104409 RANSTROM JEFFREY K $475,000.00 N
600104410 LAX KATHLEEN T $368,000.00 N
600104411 WILLIAMS KATHLEEN B $552,000.00 N
600104412 SIMON LAWRENCE M $414,000.00 N
600104414 MORGAN CATHY R $690,000.00 N
600104416 LOWRY GEORGE C $350,000.00 N
600104417 SCHEIDEGGER PAUL $1,400,000.00 N
600104418 MAYER PATRICK $400,000.00 N
600104420 MOEBIUS MAREN J $710,000.00 N
600104422 YOUNG JOHN ANTHONY $540,000.00 N
600104425 DROOZ ALAIN T $555,000.00 N
600104426 BRDLIK GEORGE C $425,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 74
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104427 RATIA RICHARD 15143 LA CALMA DR WHITTIER CA 90605 $359,739.44
600104428 WORLEY JAMES L 409 CASCADES CT MORGAN HILL CA 95037 $300,476.84
600104429 KAHANOWITCH DAVID 1297 LAMONT AVE THOUSAND OAKS CA 91362 $309,381.48
600104430 HALL LARRIE J 6450 MERLIN DR CARLSBAD CA 92009 $268,728.53
600104431 PERRI RICHARD J 3359 CAMPBELL DR BRONX NY 10465 $241,837.62
600104712 PALUMBI, ROBERT M 1701 OONDO AVENUE WATERFORD NJ 08089 $350,181.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104427 RATIA RICHARD 7.625 .250 7.375 .0500 7.325 10/01/2027
600104428 WORLEY JAMES L 7.500 .250 7.250 .0500 7.200 10/01/2027
600104429 KAHANOWITCH DAVID 7.750 .250 7.500 .0500 7.450 10/01/2027
600104430 HALL LARRIE J 8.250 .250 8.000 .0500 7.950 10/01/2027
600104431 PERRI RICHARD J 8.000 .250 7.750 .0500 7.700 10/01/2027
600104712 PALUMBI, ROBERT M 8.250 .200 8.050 .0400 8.010 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>
600104427 RATIA RICHARD 8336083 $2,548.06 11/01/1997 360
600104428 WORLEY JAMES L 8344061 $2,102.54 11/01/1997 360
600104429 KAHANOWITCH DAVID 8347700 $2,218.02 11/01/1997 360
600104430 HALL LARRIE J 8348484 $2,020.16 11/01/1997 360
600104431 PERRI RICHARD J 8351553 $1,775.71 1 11/01/1997 360
600104712 PALUMBI, ROBERT M 9099326 $2,648.22 11/01/1997 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>
600104427 RATIA RICHARD $450,000.00 N
600104428 WORLEY JAMES L $377,900.00 N
600104429 KAHANOWITCH DAVID $387,000.00 N
600104430 HALL LARRIE J $336,225.00 N
600104431 PERRI RICHARD J $285,000.00 N
600104712 PALUMBI, ROBERT M $470,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 75
RUN DATE: 11/25/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 07:55:51 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/25/1997
POOL NUMBER: 1403 POOL NAME: 97-8 Grp II PNC MS
<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 1028 0 341,302,416.27 480,368,720.37 341,861,724.90 2,509,815.23
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065639 WEISHEIT,JON C & JANET C 107 PLANTATION ROAD HOUSTON TX 77024 $245,072.92
500065640 PATERSON,RONALD S 26 CORAL PLACE ENGLEWOOD CO 80111 $290,418.73
500065641 KELLY,COYLE C & MARY BETH 9 PASCAL LN AUSTIN TX 78746 $511,661.75
500065642 HILL III,LUKE G 11916 THREE VISTA CT CHARLOTTE NC 28277 $353,496.99
500065643 ACKERMAN JR,ROBERT A 1380 SOUTH LAFAYETTE ST DENVER CO 80210 $278,228.07
500065644 GILLMORE ALLAN R III & MA 31001 EDGEWOOD DR PEPPER PIKE OH 44124 $334,489.28
500065675 SMITH,GLENN E&SHEILA J 12 SOMERSET DRIVE PALM BEACH GARD FL 33418 $450,668.32
500065676 CAMPBELL,ROBERT L 9736 IRISHMANS RUN LN ZIONSVILLE IN 46077 $523,929.32
500065677 MARLEY,CHARLES D & KELLY 130 COUNTRY MANOR DR YORK PA 17404 $397,157.66
500065678 RETO,ROBERT J&MARY A 11425 CLEARFIELD LANE MUNSON OH 44024 $237,835.57
500065679 MOORE,JERI J 13758 E CAMINO CARTAMO TUCSON AZ 85749 $408,454.85
500065680 SCHWARZ,RICHARD B 2122 DOUGLASS BLVD LOUISVILLE KY 40205 $323,030.78
500065681 WILLE,R CHRISTOPHER & MAR 820 OAKWOOD AVE DAYTON OH 45419 $453,026.86
500065683 CAMPOLI,WILLIAM J 18612 BALMORE PINES LN CORNELIUS NC 28031 $541,661.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065639 WEISHEIT,JON C & JANET C 7.250 .250 7.000 .0500 6.950 09/01/2012
500065640 PATERSON,RONALD S 7.250 .250 7.000 .0500 6.950 08/01/2012
500065641 KELLY,COYLE C & MARY BETH 7.250 .250 7.000 .0500 6.950 09/01/2012
500065642 HILL III,LUKE G 7.250 .250 7.000 .0500 6.950 09/01/2012
500065643 ACKERMAN JR,ROBERT A 7.000 .250 6.750 .0500 6.700 09/01/2012
500065644 GILLMORE ALLAN R III & MA 7.750 .250 7.500 .0500 7.450 08/01/2012
500065675 SMITH,GLENN E&SHEILA J 7.000 .250 6.750 .0500 6.700 08/01/2012
500065676 CAMPBELL,ROBERT L 7.500 .250 7.250 .0500 7.200 08/01/2012
500065677 MARLEY,CHARLES D & KELLY 7.875 .250 7.625 .0500 7.575 09/01/2012
500065678 RETO,ROBERT J&MARY A 7.625 .250 7.375 .0500 7.325 08/01/2012
500065679 MOORE,JERI J 7.250 .250 7.000 .0500 6.950 09/01/2012
500065680 SCHWARZ,RICHARD B 7.500 .250 7.250 .0500 7.200 09/01/2012
500065681 WILLE,R CHRISTOPHER & MAR 7.375 .250 7.125 .0500 7.075 09/01/2012
500065683 CAMPOLI,WILLIAM J 7.375 .250 7.125 .0500 7.075 09/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065639 WEISHEIT,JON C & JANET C 0945135 $2,251.12 11/01/1997 180
500065640 PATERSON,RONALD S 0942415 $2,676.06 11/01/1997 180
500065641 KELLY,COYLE C & MARY BETH 0943777 $4,699.88 11/01/1997 180
500065642 HILL III,LUKE G 0942357 $3,249.80 11/01/1997 180
500065643 ACKERMAN JR,ROBERT A 0944472 $2,516.72 11/01/1997 180
500065644 GILLMORE ALLAN R III & MA 8632290 $3,176.81 11/01/1997 180
500065675 SMITH,GLENN E&SHEILA J 0942658 $4,089.67 11/01/1997 180
500065676 CAMPBELL,ROBERT L 8618342 $4,901.58 11/01/1997 180
500065677 MARLEY,CHARLES D & KELLY 8619125 $3,789.06 1 11/01/1997 180
500065678 RETO,ROBERT J&MARY A 0940056 $2,241.91 11/01/1997 180
500065679 MOORE,JERI J 0942695 $3,751.87 11/01/1997 180
500065680 SCHWARZ,RICHARD B 8711698 $3,012.80 11/01/1997 180
500065681 WILLE,R CHRISTOPHER & MAR 8580501 $4,193.94 11/01/1997 180
500065683 CAMPOLI,WILLIAM J 0944502 $5,013.59 11/01/1997 180
<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>
500065639 WEISHEIT,JON C & JANET C .00 .00 .00 .000 .250 .300 $312,500.00 N
500065640 PATERSON,RONALD S .00 .00 .00 .000 .250 .300 $436,000.00 N
500065641 KELLY,COYLE C & MARY BETH .00 .00 .00 .000 .250 .300 $700,000.00 N
500065642 HILL III,LUKE G .00 .00 .00 .000 .250 .300 $450,000.00 N
500065643 ACKERMAN JR,ROBERT A .00 .00 .00 .000 .250 .300 $350,500.00 N
500065644 GILLMORE ALLAN R III & MA .00 .00 .00 .000 .250 .300 $450,000.00 N
500065675 SMITH,GLENN E&SHEILA J .00 .00 .00 .000 .250 .300 $650,000.00 N
500065676 CAMPBELL,ROBERT L .00 .00 .00 .000 .250 .300 $770,000.00 N
500065677 MARLEY,CHARLES D & KELLY .00 .00 .00 .000 .250 .300 $472,000.00 N
500065678 RETO,ROBERT J&MARY A .00 .00 .00 .000 .250 .300 $375,000.00 N
500065679 MOORE,JERI J .00 .00 .00 .000 .250 .300 $580,000.00 N
500065680 SCHWARZ,RICHARD B .00 .00 .00 .000 .250 .300 $432,000.00 N
500065681 WILLE,R CHRISTOPHER & MAR .00 .00 .00 .000 .250 .300 $575,000.00 N
500065683 CAMPOLI,WILLIAM J .00 .00 .00 .000 .250 .300 $997,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500065684 SWENSON,ELSIE W 511 BRIDGEVIEW DRIVE LEMOYNE PA 17043 $298,182.26
500065685 GRADY,TIMOTHY L&MELINDA M 6103 OLIVE GROVE COURT KINGWOOD TX 77345 $296,829.92
500065686 NIKISHIN,VLADIMIR&IRENE 4570 RIVER MANSION CT DULUTH GA 30136 $258,407.35
500065687 VAN DYKE,DAVID A&NANCY VA 161 ASHBOURNE ROAD COLUMUS OH 43209 $362,788.42
500065690 BENNETT,WILLIAM R 1401 BEDDINGTON PARK NASHVILLE TN 37215 $298,162.33
500065693 BRASWELL,CHARLES W&PATRIC 2100 CHRISTENDOM DR MIDLOTHIAN VA 23113 $268,072.77
500065700 JAIN,VIR SINGH & HEMANT 3353 CARPENTER CREEK CINCINNATI OH 45241 $282,642.86
500065704 CLINE,CARL V 343 6TH ST NW HICKORY NC 28601 $335,730.40
500065708 ASHMORE IV,ROBERT W 2775 NORTH HILLS DRIVE ATLANTA GA 30305 $290,746.97
500066122 MULEI,ANTHONY 15300 E CHENANGO AVE AURORA CO 80015 $257,203.56
500066161 LATHAM,PAIGE&FEHAN,JOHN J 1622 OAK KNOLL DRIVE DALLAS TX 75208 $227,581.90
500066162 SPURLOCK, DENNIS 585 WOODS EDGE LONDON KY 40741 $302,197.91
500066164 GRYNIEWICZ,STEVEN&SUSANNE 3650 EMBERWOOD DRIVE BROOKFIELD WI 53005 $337,691.41
500066165 PATEL,BHUPENDRA R&SHOBHAN 354 DONNA LANE BLOOMINGDALE IL 60108 $298,221.62
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500065684 SWENSON,ELSIE W 7.500 .250 7.250 .0500 7.200 09/01/2012
500065685 GRADY,TIMOTHY L&MELINDA M 7.750 .250 7.500 .0500 7.450 09/01/2012
500065686 NIKISHIN,VLADIMIR&IRENE 7.375 .250 7.125 .0500 7.075 09/01/2012
500065687 VAN DYKE,DAVID A&NANCY VA 7.500 .250 7.250 .0500 7.200 09/01/2012
500065690 BENNETT,WILLIAM R 7.375 .250 7.125 .0500 7.075 09/01/2012
500065693 BRASWELL,CHARLES W&PATRIC 7.375 .250 7.125 .0500 7.075 09/01/2012
500065700 JAIN,VIR SINGH & HEMANT 7.875 .250 7.625 .0500 7.575 09/01/2012
500065704 CLINE,CARL V 7.625 .250 7.375 .0500 7.325 09/01/2012
500065708 ASHMORE IV,ROBERT W 7.625 .250 7.375 .0500 7.325 09/01/2012
500066122 MULEI,ANTHONY 7.250 .250 7.000 .0500 6.950 10/01/2012
500066161 LATHAM,PAIGE&FEHAN,JOHN J 7.250 .250 7.000 .0500 6.950 09/01/2012
500066162 SPURLOCK, DENNIS 7.750 .250 7.500 .0500 7.450 09/01/2012
500066164 GRYNIEWICZ,STEVEN&SUSANNE 7.500 .250 7.250 .0500 7.200 09/01/2012
500066165 PATEL,BHUPENDRA R&SHOBHAN 7.750 .250 7.500 .0500 7.450 09/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500065684 SWENSON,ELSIE W 0942688 $2,781.04 11/01/1997 180
500065685 GRADY,TIMOTHY L&MELINDA M 0943485 $2,810.65 11/01/1997 180
500065686 NIKISHIN,VLADIMIR&IRENE 0943005 $2,391.81 11/01/1997 180
500065687 VAN DYKE,DAVID A&NANCY VA 0945125 $3,383.60 11/01/1997 180
500065690 BENNETT,WILLIAM R 0944224 $2,759.77 11/01/1997 180
500065693 BRASWELL,CHARLES W&PATRIC 8580542 $2,481.03 11/01/1997 180
500065700 JAIN,VIR SINGH & HEMANT 0942007 $2,703.08 11/01/1997 180
500065704 CLINE,CARL V 0941080 $3,156.42 11/01/1997 180
500065708 ASHMORE IV,ROBERT W 0943424 $2,732.33 11/01/1997 180
500066122 MULEI,ANTHONY 0946066 $2,355.19 11/01/1997 180
500066161 LATHAM,PAIGE&FEHAN,JOHN J 0942106 $2,090.46 11/01/1997 180
500066162 SPURLOCK, DENNIS 8671231 $2,861.48 11/01/1997 180
500066164 GRYNIEWICZ,STEVEN&SUSANNE 0944714 $3,149.52 11/01/1997 180
500066165 PATEL,BHUPENDRA R&SHOBHAN 0944118 $2,823.83 11/01/1997 180
<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>
500065684 SWENSON,ELSIE W .00 .00 .00 .000 .250 .300 $550,000.00 N
500065685 GRADY,TIMOTHY L&MELINDA M .00 .00 .00 .000 .250 .300 $375,000.00 N
500065686 NIKISHIN,VLADIMIR&IRENE .00 .00 .00 .000 .250 .300 $550,000.00 N
500065687 VAN DYKE,DAVID A&NANCY VA .00 .00 .00 .000 .250 .300 $568,000.00 N
500065690 BENNETT,WILLIAM R .00 .00 .00 .000 .250 .300 $600,000.00 N
500065693 BRASWELL,CHARLES W&PATRIC .00 .00 .00 .000 .250 .300 $345,000.00 N
500065700 JAIN,VIR SINGH & HEMANT .00 .00 .00 .000 .250 .300 $508,000.00 N
500065704 CLINE,CARL V .00 .00 .00 .000 .250 .300 $422,400.00 N
500065708 ASHMORE IV,ROBERT W .00 .00 .00 .000 .250 .300 $390,000.00 N
500066122 MULEI,ANTHONY .00 .00 .00 .000 .250 .300 $369,000.00 N
500066161 LATHAM,PAIGE&FEHAN,JOHN J .00 .00 .00 .000 .250 .300 $287,000.00 N
500066162 SPURLOCK, DENNIS .00 .00 .00 .000 .250 .300 $400,000.00 N
500066164 GRYNIEWICZ,STEVEN&SUSANNE .00 .00 .00 .000 .250 .300 $430,000.00 N
500066165 PATEL,BHUPENDRA R&SHOBHAN .00 .00 .00 .000 .250 .300 $447,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066214 STEINGASS,WILLIAM P&LINDA 2730 LESTER RD MEDINA OH 44256 $306,381.30
500066227 BROWN,CALVIN L SR& DIAN 715 CHAMPIONS CLUB DRIVE ALPHARETTA GA 30201 $294,126.98
500066265 ZIEGLER,HERMAN&MARS,DOROT 5479 ASCOT BND BOCA RATON FL 33496 $248,451.85
500066270 GISCHE,DAVID M&ELIZABETH 10735 NORMANDIE FARM ROAD POTOMAC MD 20854 $608,168.78
600060656 SHORT 705 MULBERRY AVENUE CELEBRATION FL 34747 $180,375.47
600060657 SULLIVAN 4102 SW ST LUCIE LANE PALM CITY FL 34990 $153,772.62
600060658 JASINSKI 2449 ABBINGTON DRIVE SE GRAND RAPIDS MI 49506 $40,949.41
600060659 COLLINS 5940 HILLTOP DRIVE SPRINGFIELD MO 65810 $389,085.16
600060661 THEOBALD 846 EVERGREEN PLACE LONGBOAT KEY FL 34228 $156,213.46
600060662 POWERS J 304 -306 BURR OAK STREET KALAMAZOO MI 49001 $28,914.39
600060663 HARIRI 12 LAUREL CIRCLE LUTHERVILLE MD 21093 $322,731.69
600060664 HALEVA 7762 WINDING WAY FAIR OAKS CA 95628 $458,845.04
600060665 RICHARDS 6326 HAMPTON STREET KALAMAZOO MI 49024 $75,460.72
600060666 RICHARDS 1200 WOODVIEW DRIVE PORTAGE MI 49002 $74,621.49
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066214 STEINGASS,WILLIAM P&LINDA 7.125 .250 6.875 .0500 6.825 09/01/2012
500066227 BROWN,CALVIN L SR& DIAN 7.500 .250 7.250 .0500 7.200 09/01/2012
500066265 ZIEGLER,HERMAN&MARS,DOROT 7.250 .250 7.000 .0500 6.950 09/01/2012
500066270 GISCHE,DAVID M&ELIZABETH 7.125 .250 6.875 .0500 6.825 09/01/2012
600060656 SHORT 8.125 .250 7.875 .0500 7.825 03/01/2012
600060657 SULLIVAN 8.000 .250 7.750 .0500 7.700 03/01/2012
600060658 JASINSKI 8.250 .250 8.000 .0500 7.950 03/01/2012
600060659 COLLINS 7.750 .250 7.500 .0500 7.450 02/01/2012
600060661 THEOBALD 8.000 .250 7.750 .0500 7.700 03/01/2012
600060662 POWERS J 8.250 .250 8.000 .0500 7.950 03/01/2012
600060663 HARIRI 7.500 .250 7.250 .0500 7.200 02/01/2012
600060664 HALEVA 7.500 .250 7.250 .0500 7.200 02/01/2012
600060665 RICHARDS 8.625 .250 8.375 .0500 8.325 03/01/2012
600060666 RICHARDS 8.625 .250 8.375 .0500 8.325 03/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066214 STEINGASS,WILLIAM P&LINDA 8632637 $2,826.20 11/01/1997 180
500066227 BROWN,CALVIN L SR& DIAN 8696559 $2,743.22 11/01/1997 180
500066265 ZIEGLER,HERMAN&MARS,DOROT 8645036 $2,282.16 11/01/1997 180
500066270 GISCHE,DAVID M&ELIZABETH 8575185 $5,543.69 11/01/1997 180
600060656 SHORT 0892933 $1,778.45 11/01/1997 180
600060657 SULLIVAN 0905230 $1,505.16 11/01/1997 180
600060658 JASINSKI 0905359 $414.74 11/01/1997 180
600060659 COLLINS 0906903 $3,765.10 11/01/1997 180
600060661 THEOBALD 0908468 $1,529.05 11/01/1997 180
600060662 POWERS J 0909179 $287.16 11/01/1997 180
600060663 HARIRI 0909530 $3,077.68 11/01/1997 180
600060664 HALEVA 0909598 $4,375.50 11/01/1997 180
600060665 RICHARDS 0910789 $781.76 11/01/1997 180
600060666 RICHARDS 0910791 $773.82 11/01/1997 180
<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>
500066214 STEINGASS,WILLIAM P&LINDA .00 .00 .00 .000 .250 .300 $390,000.00 N
500066227 BROWN,CALVIN L SR& DIAN .00 .00 .00 .000 .250 .300 $369,900.00 N
500066265 ZIEGLER,HERMAN&MARS,DOROT .00 .00 .00 .000 .250 .300 $360,000.00 N
500066270 GISCHE,DAVID M&ELIZABETH .00 .00 .00 .000 .250 .300 $775,000.00 N
600060656 SHORT .00 .00 .00 .000 .250 .300 $249,895.00 N
600060657 SULLIVAN .00 .00 .00 .000 .250 .300 $210,000.00 N
600060658 JASINSKI .00 .00 .00 .000 .250 .300 $57,000.00 N
600060659 COLLINS .00 .00 .00 .000 .250 .300 $520,000.00 N
600060661 THEOBALD .00 .00 .00 .000 .250 .300 $230,000.00 N
600060662 POWERS J .00 .00 .00 .000 .250 .300 $37,000.00 N
600060663 HARIRI .00 .00 .00 .000 .250 .300 $415,000.00 N
600060664 HALEVA .00 .00 .00 .000 .250 .300 $700,000.00 N
600060665 RICHARDS .00 .00 .00 .000 .250 .300 $98,600.00 N
600060666 RICHARDS .00 .00 .00 .000 .250 .300 $126,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600060667 ZAKRZEWS 14228 SOUTH CLARK RIVERDALE IL 60627 $36,987.32
600060668 NAYLOR 2700 LATHAM DRIVE SACRAMENTO CA 95864 $369,740.38
600060669 GUENTHER 1953 MAXFIELD BLVD HARTLAND MI 48353 $58,625.08
600060670 MILONCZ 108 S AURORA AVENUE CLEARWATER FL 34625 $54,946.06
600060671 HUSSAIN 1706 HASTINGS STREET ORLANDO FL 32808 $39,093.22
600060672 CZEPCINS 5504 S JACKSON ROAD JACKSON MI 49201 $104,467.27
600060673 PUNG 4335 PINE LAKE DRIVE NAPERVILLE IL 60540 $261,096.05
600060674 PAVLOVIC 988 BOULEVARD OF THE ART SARASOTA FL 34236 $161,167.40
600060675 FRYE 4201 NEPTUNE DRIVE SOUTHE ST PETERSBURG FL 33705 $29,495.55
600060676 JENKINS 503 MECHEM DRIVE RUIDOSO NM 88345 $42,684.32
600060677 TIEMSTRA 223 WOODSTOCK CLARENDON HILLS IL 60514 $233,319.38
600060678 DEW 474 EAST JEFFREY PLACE COLUMBUS OH 43214 $59,372.88
600060679 MALACKO 1139 SUMMIT TRAIL CIRCLE WEST PALM BEACH FL 33415 $38,717.16
600060680 LOCATELL 14016 ARBOLITOS DRIVE POWAY CA 92064 $348,698.66
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600060667 ZAKRZEWS 8.500 .250 8.250 .0500 8.200 03/01/2012
600060668 NAYLOR 7.875 .250 7.625 .0500 7.575 02/01/2012
600060669 GUENTHER 8.375 .250 8.125 .0500 8.075 03/01/2012
600060670 MILONCZ 8.250 .250 8.000 .0500 7.950 03/01/2012
600060671 HUSSAIN 8.500 .250 8.250 .0500 8.200 03/01/2012
600060672 CZEPCINS 8.750 .250 8.500 .0500 8.450 03/01/2012
600060673 PUNG 7.000 .250 6.750 .0500 6.700 03/01/2012
600060674 PAVLOVIC 8.000 .250 7.750 .0500 7.700 03/01/2012
600060675 FRYE 9.000 .250 8.750 .0500 8.700 03/01/2012
600060676 JENKINS 8.375 .250 8.125 .0500 8.075 03/01/2012
600060677 TIEMSTRA 7.750 .250 7.500 .0500 7.450 03/01/2012
600060678 DEW 8.500 .250 8.250 .0500 8.200 03/01/2012
600060679 MALACKO 8.875 .250 8.625 .0500 8.575 03/01/2012
600060680 LOCATELL 7.375 .250 7.125 .0500 7.075 01/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600060667 ZAKRZEWS 0911070 $374.20 11/01/1997 180
600060668 NAYLOR 0911231 $3,604.11 11/01/1997 180
600060669 GUENTHER 0911287 $586.46 11/01/1997 180
600060670 MILONCZ 0911539 $545.71 11/01/1997 180
600060671 HUSSAIN 0911625 $393.90 11/01/1997 180
600060672 CZEPCINS 0911731 $1,069.41 11/01/1997 180
600060673 PUNG 0912827 $2,408.86 11/01/1997 180
600060674 PAVLOVIC 0913049 $1,612.67 11/01/1997 180
600060675 FRYE 0913178 $305.81 12 11/01/1997 180
600060676 JENKINS 0913256 $488.71 11/01/1997 180
600060677 TIEMSTRA 0913695 $2,250.59 11/01/1997 180
600060678 DEW 0914392 $598.23 11/01/1997 180
600060679 MALACKO 0914908 $402.74 11/01/1997 180
600060680 LOCATELL 6210116 $3,311.73 11/01/1997 180
<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>
600060667 ZAKRZEWS .00 .00 .00 .000 .250 .300 $77,000.00 N
600060668 NAYLOR .00 .00 .00 .000 .250 .300 $480,000.00 N
600060669 GUENTHER .00 .00 .00 .000 .250 .300 $75,000.00 N
600060670 MILONCZ .00 .00 .00 .000 .250 .300 $75,000.00 N
600060671 HUSSAIN .00 .00 .00 .000 .250 .300 $52,000.00 N
600060672 CZEPCINS .00 .00 .00 .000 .250 .300 $152,500.00 N
600060673 PUNG .00 .00 .00 .000 .250 .300 $335,000.00 N
600060674 PAVLOVIC .00 .00 .00 .000 .250 .300 $225,000.00 N
600060675 FRYE .00 .00 .00 .000 .250 .300 $33,500.00 N
600060676 JENKINS .00 .00 .00 .000 .250 .300 $95,000.00 N
600060677 TIEMSTRA .00 .00 .00 .000 .250 .300 $345,000.00 N
600060678 DEW .00 .00 .00 .000 .250 .300 $81,000.00 N
600060679 MALACKO .00 .00 .00 .000 .250 .300 $75,500.00 N
600060680 LOCATELL .00 .00 .00 .000 .250 .300 $515,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600060681 DICKISON 18335 PINNACLE COURT MIDDLETOWN CA 95461 $96,831.97
600060683 KEUSETH 9704 EAST ADOBE DRIVE SCOTTSDALE AZ 85255 $238,657.19
600060684 DHILLON 22341 PINEGLEN MISSION VIEJO CA 92692 $382,723.09
600060685 ANDERSON 295 EAST 300 NORTH LOGAN UT 84321 $39,045.93
600064132 DURGIN BASIL ROAD BALTIMORE OH 43105 $239,833.90
600064133 PETROFF DUNWOODY CIRCLE HOLT MI 48842 $224,211.20
600064134 LAPENNA GREENTREE LANE NE ADA MI 49301 $291,353.17
600064135 GROSSER HEDGEFORD DRIVE CHESTERFIELD MO 63017 $80,534.16
600064136 BERKE GLENMOOR ROAD NW CANTON OH 44718 $549,820.62
600064137 DAS W FARGO CHICAGO IL 60626 $55,231.66
600064140 CHEN EXPOSITION DRIVE TAMPA FL 33626 $73,458.12
600064142 SAKALA THOROFARE GROSSE ILE MI 48138 $270,590.51
600064143 HELLWEGE HIGHLAND STREET COLUMBUS OH 43201 $70,024.39
600064144 BLANK RUSSELL STREET COVINGTON KY 41011 $108,267.89
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600060681 DICKISON 7.500 .250 7.250 .0500 7.200 02/01/2012
600060683 KEUSETH 8.000 .250 7.750 .0500 7.700 04/01/2012
600060684 DHILLON 8.000 .250 7.750 .0500 7.700 03/01/2012
600060685 ANDERSON 8.500 .250 8.250 .0500 8.200 03/01/2012
600064132 DURGIN 7.750 .250 7.500 .0500 7.450 04/01/2012
600064133 PETROFF 7.750 .250 7.500 .0500 7.450 04/01/2012
600064134 LAPENNA 7.750 .250 7.500 .0500 7.450 04/01/2012
600064135 GROSSER 7.875 .250 7.625 .0500 7.575 04/01/2012
600064136 BERKE 7.500 .250 7.250 .0500 7.200 04/01/2012
600064137 DAS 8.125 .250 7.875 .0500 7.825 04/01/2012
600064140 CHEN 8.250 .250 8.000 .0500 7.950 03/01/2012
600064142 SAKALA 7.000 .250 6.750 .0500 6.700 05/01/2012
600064143 HELLWEGE 8.000 .250 7.750 .0500 7.700 04/01/2012
600064144 BLANK 7.750 .250 7.500 .0500 7.450 04/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600060681 DICKISON 6264851 $925.16 11/01/1997 180
600060683 KEUSETH 6297433 $2,436.92 11/01/1997 180
600060684 DHILLON 6299052 $3,746.16 11/01/1997 180
600060685 ANDERSON 7100588 $393.90 11/01/1997 180
600064132 DURGIN 0907984 $2,306.13 11/01/1997 180
600064133 PETROFF 0909195 $2,177.17 12 11/01/1997 180
600064134 LAPENNA 0909307 $2,823.83 11/01/1997 180
600064135 GROSSER 0909540 $780.10 11/01/1997 180
600064136 BERKE 0911242 $5,211.66 11/01/1997 180
600064137 DAS 0911776 $556.06 11/01/1997 180
600064140 CHEN 0913078 $729.55 11/01/1997 180
600064142 SAKALA 0913805 $2,479.87 11/01/1997 180
600064143 HELLWEGE 0914157 $683.29 11/01/1997 180
600064144 BLANK 0914368 $1,041.05 11/01/1997 180
<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>
600060681 DICKISON .00 .00 .00 .000 .250 .300 $220,000.00 N
600060683 KEUSETH .00 .00 .00 .000 .250 .300 $630,000.00 N
600060684 DHILLON .00 .00 .00 .000 .250 .300 $490,000.00 N
600060685 ANDERSON .00 .00 .00 .000 .250 .300 $77,000.00 N
600064132 DURGIN .00 .00 .00 .000 .250 .300 $311,000.00 N
600064133 PETROFF .00 .00 .00 .000 .250 .300 $257,000.00 N
600064134 LAPENNA .00 .00 .00 .000 .250 .300 $400,000.00 N
600064135 GROSSER .00 .00 .00 .000 .250 .300 $112,000.00 N
600064136 BERKE .00 .00 .00 .000 .250 .300 $875,000.00 N
600064137 DAS .00 .00 .00 .000 .250 .300 $77,000.00 N
600064140 CHEN .00 .00 .00 .000 .250 .300 $94,000.00 N
600064142 SAKALA .00 .00 .00 .000 .250 .300 $385,000.00 N
600064143 HELLWEGE .00 .00 .00 .000 .250 .300 $110,000.00 N
600064144 BLANK .00 .00 .00 .000 .250 .300 $158,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600064145 AILOR NORTH 24TH ROAD ARLINGTON VA 22207 $255,007.13
600064146 CARLETON 101 AVENUE NORTH SEMINOLE FL 34647 $81,550.29
600064147 CHOI URBANDALE LANE NORTH PLYMOUTH MN 55446 $214,724.60
600064148 VOCERO ROBIN COURT SAINT LOUIS MO 63144 $66,134.72
600064149 FULLER KEYSTONE RIVER FOREST IL 60305 $287,867.93
600064150 GILMORE ROBINSON ROAD EAST GRAND RAPI MI 49506 $225,984.02
600064152 TOWNES WHILEY ROAD GROTON MA 1450 $251,736.64
600064153 DISPENNE AUGUSTA DRIVE SUN CITY CENTER FL 33573 $47,785.62
600064154 KALRA BALDWIN ROAD ORION MI 48359 $68,631.42
600064155 GAUGHAN RIDGE AVENUE STEUBENVILLE OH 43952 $47,020.01
600064156 SHELTON GROVE LANE CARY IL 60013 $231,076.78
600064157 KAZIL 23RD AVENUE WEST BRADENTON FL 34205 $64,233.29
600064158 JONES THOMAS STREET MAPLE HEIGHTS OH 44137 $43,474.67
600064159 BRADFORD CREEKBOTTOM CIRCLE ORLANDO FL 32825 $54,598.90
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600064145 AILOR 7.750 .250 7.500 .0500 7.450 04/01/2012
600064146 CARLETON 8.125 .250 7.875 .0500 7.825 04/01/2012
600064147 CHOI 8.125 .250 7.875 .0500 7.825 04/01/2012
600064148 VOCERO 8.250 .250 8.000 .0500 7.950 04/01/2012
600064149 FULLER 7.750 .250 7.500 .0500 7.450 03/01/2012
600064150 GILMORE 7.750 .250 7.500 .0500 7.450 04/01/2012
600064152 TOWNES 7.875 .250 7.625 .0500 7.575 04/01/2012
600064153 DISPENNE 8.500 .250 8.250 .0500 8.200 04/01/2012
600064154 KALRA 8.625 .250 8.375 .0500 8.325 04/01/2012
600064155 GAUGHAN 8.125 .250 7.875 .0500 7.825 04/01/2012
600064156 SHELTON 7.875 .250 7.625 .0500 7.575 04/01/2012
600064157 KAZIL 8.750 .250 8.500 .0500 8.450 04/01/2012
600064158 JONES 8.875 .250 8.625 .0500 8.575 03/01/2012
600064159 BRADFORD 8.125 .250 7.875 .0500 7.825 04/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600064145 AILOR 0914397 $2,452.02 11/01/1997 180
600064146 CARLETON 0914432 $801.60 11/01/1997 180
600064147 CHOI 0914571 $2,110.64 11/01/1997 180
600064148 VOCERO 0914791 $654.84 11/01/1997 180
600064149 FULLER 0915146 $2,776.76 11/01/1997 180
600064150 GILMORE 0915661 $2,271.30 11/01/1997 180
600064152 TOWNES 0915732 $2,438.46 11/01/1997 180
600064153 DISPENNE 0915994 $480.06 11/01/1997 180
600064154 KALRA 0916062 $694.46 11/01/1997 180
600064155 GAUGHAN 0916397 $462.18 11/01/1997 180
600064156 SHELTON 0916620 $2,238.34 11/01/1997 180
600064157 KAZIL 0916650 $654.64 11/01/1997 180
600064158 JONES 0916943 $447.54 18 11/01/1997 180
600064159 BRADFORD 0917387 $538.74 11/01/1997 180
<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>
600064145 AILOR .00 .00 .00 .000 .250 .300 $345,000.00 N
600064146 CARLETON .00 .00 .00 .000 .250 .300 $111,000.00 N
600064147 CHOI .00 .00 .00 .000 .250 .300 $274,000.00 N
600064148 VOCERO .00 .00 .00 .000 .250 .300 $101,000.00 N
600064149 FULLER .00 .00 .00 .000 .250 .300 $404,000.00 N
600064150 GILMORE .00 .00 .00 .000 .250 .300 $575,000.00 N
600064152 TOWNES .00 .00 .00 .000 .250 .300 $326,000.00 N
600064153 DISPENNE .00 .00 .00 .000 .250 .300 $65,000.00 N
600064154 KALRA .00 .00 .00 .000 .250 .300 $109,000.00 N
600064155 GAUGHAN .00 .00 .00 .000 .250 .300 $64,000.00 N
600064156 SHELTON .00 .00 .00 .000 .250 .300 $303,000.00 N
600064157 KAZIL .00 .00 .00 .000 .250 .300 $81,900.00 N
600064158 JONES .00 .00 .00 .000 .250 .300 $49,501.00 N
600064159 BRADFORD .00 .00 .00 .000 .250 .300 $69,950.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600064160 DEL RIVE N NARRAGANSETT CHICAGO IL 60639 $61,727.55
600064161 ROSE CARISSA ROAD WEST MELBOURNE FL 32904 $66,713.37
600064162 GRAHAM MEADOWS DRIVE VALLEJO CA 94589 $80,804.87
600064163 PHAN HARBOR VIEW DRIVE CORONA DEL MAR CA 92625 $556,316.82
600064164 CASSARA FAUST AVENUE LONG BEACH CA 90815 $53,698.40
600064165 MADDEN S NIELSON ROAD PHELAN CA 92371 $95,572.90
600064166 YOMTUBI NORTH ORLANDO AVENUE LOS ANGELES CA 90048 $154,668.38
600064167 SUNG EAST AHWAHNEE AVENUE FRESNO CA 93720 $48,990.12
600064168 GRANITO EAST INDIGO COURT ORANGE CA 92869 $215,894.87
600064169 KNIGHT HARRIS WAY BEND OR 97701 $264,485.67
600064172 LANNING NORTHERN AVENUE ELEPHANT BUTTE NM 87935 $69,136.60
600064173 BUCKENDO 455 S WHITE CLOUD DR BOISE ID 83709 $101,692.98
600064174 MONTAGUE JERICO LANE ST CHARLES ID 83272 $66,915.73
600064933 WILD 14 MANCHESTER ROAD CARMEL NY 10512 $223,088.51
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600064160 DEL RIVE 8.250 .250 8.000 .0500 7.950 04/01/2012
600064161 ROSE 9.000 .250 8.750 .0500 8.700 04/01/2012
600064162 GRAHAM 8.375 .250 8.125 .0500 8.075 03/01/2012
600064163 PHAN 7.750 .250 7.500 .0500 7.450 04/01/2012
600064164 CASSARA 8.000 .250 7.750 .0500 7.700 03/01/2012
600064165 MADDEN S 8.500 .250 8.250 .0500 8.200 04/01/2012
600064166 YOMTUBI 7.750 .250 7.500 .0500 7.450 04/01/2012
600064167 SUNG 8.250 .250 8.000 .0500 7.950 04/01/2012
600064168 GRANITO 7.375 .250 7.125 .0500 7.075 04/01/2012
600064169 KNIGHT 8.125 .250 7.875 .0500 7.825 04/01/2012
600064172 LANNING 8.750 .250 8.500 .0500 8.450 04/01/2012
600064173 BUCKENDO 8.750 .250 8.500 .0500 8.450 03/01/2012
600064174 MONTAGUE 8.625 .250 8.375 .0500 8.325 04/01/2012
600064933 WILD 7.500 .250 7.250 .0500 7.200 04/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600064160 DEL RIVE 0917736 $611.19 11/01/1997 180
600064161 ROSE 0919082 $689.71 11/01/1997 180
600064162 GRAHAM 6213235 $808.34 2 11/01/1997 180
600064163 PHAN 6213417 $5,349.27 11/01/1997 180
600064164 CASSARA 6224034 $525.61 11/01/1997 180
600064165 MADDEN S 6233746 $960.13 11/01/1997 180
600064166 YOMTUBI 6233812 $1,487.22 11/01/1997 180
600064167 SUNG 6274703 $485.07 11/01/1997 180
600064168 GRANITO 6275778 $2,030.28 11/01/1997 180
600064169 KNIGHT 6296894 $2,599.79 11/01/1997 180
600064172 LANNING 6297500 $704.61 11/01/1997 180
600064173 BUCKENDO 7016040 $1,039.43 11/01/1997 180
600064174 MONTAGUE 7159729 $677.09 11/01/1997 180
600064933 WILD 4125993 $2,113.59 1 11/01/1997 180
<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>
600064160 DEL RIVE .00 .00 .00 .000 .250 .300 $108,000.00 N
600064161 ROSE .00 .00 .00 .000 .250 .300 $85,000.00 N
600064162 GRAHAM .00 .00 .00 .000 .250 .300 $92,000.00 N
600064163 PHAN .00 .00 .00 .000 .250 .300 $763,000.00 N
600064164 CASSARA .00 .00 .00 .000 .250 .300 $178,000.00 N
600064165 MADDEN S .00 .00 .00 .000 .250 .300 $130,000.00 N
600064166 YOMTUBI .00 .00 .00 .000 .250 .300 $300,000.00 N
600064167 SUNG .00 .00 .00 .000 .250 .300 $250,000.00 N
600064168 GRANITO .00 .00 .00 .000 .250 .300 $275,889.00 N
600064169 KNIGHT .00 .00 .00 .000 .250 .300 $515,000.00 N
600064172 LANNING .00 .00 .00 .000 .250 .300 $94,500.00 N
600064173 BUCKENDO .00 .00 .00 .000 .250 .300 $130,000.00 N
600064174 MONTAGUE .00 .00 .00 .000 .250 .300 $91,000.00 N
600064933 WILD .00 .00 .00 .000 .250 .300 $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600064937 EMARD 2992 LONGSPUR DRIVE FULLERTON CA 92635 $255,437.36
600064949 SADRI 12516 BRIDGETON DRIVE POTOMAC MD 20854 $432,572.16
600064955 BIBAT JR. 2232 DELVIN WAY SOUTH SAN FRANC CA 94080 $250,306.88
600064957 WONG 60 SANTA MONICA WAY SAN FRANCISCO CA 94127 $371,987.30
600064959 TATE 10 BAYDON WAY MEDFORD NJ 8055 $305,134.58
600064961 JENNINGS 25605 EAST 99TH STREET LEE'S SUMMIT MO 64086 $314,392.93
600064981 WINSTON 4865 CARMEL ROAD LA CANADA FLINT CA 91011 $279,754.19
600068236 SHEILA J NAGY 302 BAY SHORE DRIVE INGLESIDE ON TH TX 78362 $81,029.19
600068237 NANCY A PESHKE 12810 PINTAIL COURT RIVERVIEW FL 33569 $73,228.60
600068238 KENNETH HICKS 1420 COVE LANDING DRIVE ATLANTIC BEACH FL 32233 $67,025.70
600068242 KIBRIA G MOHAMMED 1085 CRANBROOK ROAD UNION NJ 07083 $96,626.32
600068249 KENNETH ALVAREZ 17708 GLENDA DRIVE SPRING HILL FL 34610 $82,848.13
600068262 GUILLERMO MENDEZ 4210 WEST FLORA STREET TAMPA FL 33614 $35,051.78
600068264 DEGUANG LI 8310 LEADER STREET HOUSTON TX 77036 $49,291.42
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600064937 EMARD 7.625 .250 7.375 .0500 7.325 04/01/2012
600064949 SADRI 7.375 .250 7.125 .0500 7.075 04/01/2012
600064955 BIBAT JR. 7.125 .250 6.875 .0500 6.825 04/01/2012
600064957 WONG 7.750 .250 7.500 .0500 7.450 04/01/2012
600064959 TATE 7.250 .250 7.000 .0500 6.950 04/01/2012
600064961 JENNINGS 7.625 .250 7.375 .0500 7.325 04/01/2012
600064981 WINSTON 7.500 .250 7.250 .0500 7.200 05/01/2012
600068236 SHEILA J NAGY 7.125 .250 6.875 .0300 6.845 12/01/2011
600068237 NANCY A PESHKE 8.375 .250 8.125 .0300 8.095 05/01/2012
600068238 KENNETH HICKS 8.250 .250 8.000 .0300 7.970 06/01/2012
600068242 KIBRIA G MOHAMMED 8.500 .250 8.250 .0300 8.220 06/01/2012
600068249 KENNETH ALVAREZ 8.750 .250 8.500 .0300 8.470 06/01/2012
600068262 GUILLERMO MENDEZ 7.875 .250 7.625 .0300 7.595 05/01/2012
600068264 DEGUANG LI 8.375 .250 8.125 .0300 8.095 06/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600064937 EMARD 4138772 $2,438.08 11/01/1997 180
600064949 SADRI 4148755 $4,139.66 11/01/1997 180
600064955 BIBAT JR. 4152336 $2,318.93 11/01/1997 180
600064957 WONG 4153789 $3,576.85 11/01/1997 180
600064959 TATE 4154589 $2,848.14 11/01/1997 180
600064961 JENNINGS 4155602 $3,007.90 11/01/1997 180
600064981 WINSTON 4166047 $2,641.99 11/01/1997 180
600068236 SHEILA J NAGY 9761808 $760.90 11/01/1997 180
600068237 NANCY A PESHKE 9771878 $728.18 11/01/1997 180
600068238 KENNETH HICKS 8960293 $659.70 11/01/1997 180
600068242 KIBRIA G MOHAMMED 8658066 $965.04 11/01/1997 180
600068249 KENNETH ALVAREZ 8754885 $839.54 11/01/1997 180
600068262 GUILLERMO MENDEZ 8529397 $341.44 11/01/1997 180
600068264 DEGUANG LI 8533120 $488.71 11/01/1997 180
<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>
600064937 EMARD .00 .00 .00 .000 .250 .300 $353,000.00 N
600064949 SADRI .00 .00 .00 .000 .250 .300 $655,000.00 N
600064955 BIBAT JR. .00 .00 .00 .000 .250 .300 $320,000.00 N
600064957 WONG .00 .00 .00 .000 .250 .300 $643,000.00 N
600064959 TATE .00 .00 .00 .000 .250 .300 $392,000.00 N
600064961 JENNINGS .00 .00 .00 .000 .250 .300 $444,500.00 N
600064981 WINSTON .00 .00 .00 .000 .250 .300 $435,000.00 N
600068236 SHEILA J NAGY .00 .00 .00 .000 .250 .280 $120,000.00 N
600068237 NANCY A PESHKE .00 .00 .00 .000 .250 .280 $115,000.00 N
600068238 KENNETH HICKS .00 .00 .00 .000 .250 .280 $85,000.00 N
600068242 KIBRIA G MOHAMMED .00 .00 .00 .000 .250 .280 $148,000.00 N
600068249 KENNETH ALVAREZ .00 .00 .00 .000 .250 .280 $105,000.00 N
600068262 GUILLERMO MENDEZ .00 .00 .00 .000 .250 .280 $76,000.00 N
600068264 DEGUANG LI .00 .00 .00 .000 .250 .280 $90,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600068265 MINH VAN LE 1031 SUGAR LAKES DRIVE SUGAR LAND TX 77478 $116,605.01
600068268 THANG VAN NGUYEN 12371 EUCLID STREET GARDEN GROVE CA 92840 $97,036.91
600068273 PENNY S ELIEFF 2709 LAKEHOLLOW LANE FLOWER MOUND TX 75028 $39,388.41
600068274 PETER THANH NGUYEN 1100 TAHLEQUAH TRAIL CARROLTON TX 75007 $82,511.01
600068278 ROBERTO GONZALEZ 17914 S.W. 137TH PLACE MIAMI FL 33177 $128,321.02
600068280 PURUSHOTTAM PANDEY 58 SAN BENITO WAY NOVATO CA 94945 $104,388.37
600068288 CLARA M HORNE 498 BLOOMFIELD DRIVE FAYETTEVILLE NC 28311 $103,495.53
600068289 RUSSELL D WREN 112 PARK DRIVE GLENWOOD SPRING CO 81601 $80,579.68
600068293 REUBEN KATULARU 24403 N 38TH TERRACE GLENDALE AZ 85310 $78,589.55
600068294 JAMES B DOUGHTEN,III RD 1 BOX 443-B MILFORD DE 19963 $49,267.81
600068295 ANTHONY N TALARICO 1405 HANCOCK BOULEVARD READING PA 19607 $27,344.91
600068297 PAUL SHIELDS 183-41 ELMIRA AVENUE ST. ALBANS NY 11412 $108,143.94
600068300 WAYNE S THOM 6690 ARBOGA WAY SACRAMENTO CA 95831 $235,189.10
600068301 EDWARD J HUDZIK 420 DORCHESTER DRIVE VENICE FL 34293 $49,048.62
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600068265 MINH VAN LE 8.250 .250 8.000 .0300 7.970 06/01/2012
600068268 THANG VAN NGUYEN 7.750 .250 7.500 .0300 7.470 06/01/2012
600068273 PENNY S ELIEFF 7.500 .250 7.250 .0300 7.220 06/01/2012
600068274 PETER THANH NGUYEN 7.875 .250 7.625 .0300 7.595 06/01/2012
600068278 ROBERTO GONZALEZ 8.625 .250 8.375 .0300 8.345 05/01/2012
600068280 PURUSHOTTAM PANDEY 7.625 .250 7.375 .0300 7.345 06/01/2012
600068288 CLARA M HORNE 8.250 .250 8.000 .0300 7.970 06/01/2012
600068289 RUSSELL D WREN 8.750 .250 8.500 .0300 8.470 06/01/2012
600068293 REUBEN KATULARU 8.000 .250 7.750 .0300 7.720 05/01/2012
600068294 JAMES B DOUGHTEN,III 8.000 .250 7.750 .0300 7.720 06/01/2012
600068295 ANTHONY N TALARICO 7.875 .250 7.625 .0300 7.595 06/01/2012
600068297 PAUL SHIELDS 8.625 .250 8.375 .0300 8.345 06/01/2012
600068300 WAYNE S THOM 7.750 .250 7.500 .0300 7.470 06/01/2012
600068301 EDWARD J HUDZIK 9.250 .250 9.000 .0300 8.970 04/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600068265 MINH VAN LE 8533623 $1,147.68 11/01/1997 180
600068268 THANG VAN NGUYEN 8555461 $929.98 11/01/1997 180
600068273 PENNY S ELIEFF 8563056 $370.80 11/01/1997 180
600068274 PETER THANH NGUYEN 8563852 $796.70 11/01/1997 180
600068278 ROBERTO GONZALEZ 8586207 $1,294.66 11/01/1997 180
600068280 PURUSHOTTAM PANDEY 8605914 $994.85 11/01/1997 180
600068288 CLARA M HORNE 8279670 $1,018.65 11/01/1997 180
600068289 RUSSELL D WREN 8312787 $816.55 11/01/1997 180
600068293 REUBEN KATULARU 7913962 $764.52 11/01/1997 180
600068294 JAMES B DOUGHTEN,III 7927125 $477.83 11/01/1997 180
600068295 ANTHONY N TALARICO 7927615 $275.05 11/01/1997 180
600068297 PAUL SHIELDS 7936050 $1,091.29 11/01/1997 180
600068300 WAYNE S THOM 8032948 $2,259.06 11/01/1997 180
600068301 EDWARD J HUDZIK 8069158 $514.60 11/01/1997 180
<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>
600068265 MINH VAN LE .00 .00 .00 .000 .250 .280 $169,000.00 N
600068268 THANG VAN NGUYEN .00 .00 .00 .000 .250 .280 $131,750.00 N
600068273 PENNY S ELIEFF .00 .00 .00 .000 .250 .280 $136,500.00 N
600068274 PETER THANH NGUYEN .00 .00 .00 .000 .250 .280 $124,000.00 N
600068278 ROBERTO GONZALEZ .00 .00 .00 .000 .250 .280 $168,000.00 N
600068280 PURUSHOTTAM PANDEY .00 .00 .00 .000 .250 .280 $300,000.00 N
600068288 CLARA M HORNE .00 .00 .00 .000 .250 .280 $210,000.00 N
600068289 RUSSELL D WREN .00 .00 .00 .000 .250 .280 $158,000.00 N
600068293 REUBEN KATULARU .00 .00 .00 .000 .250 .280 $132,219.00 N
600068294 JAMES B DOUGHTEN,III .00 .00 .00 .000 .250 .280 $115,000.00 N
600068295 ANTHONY N TALARICO .00 .00 .00 .000 .250 .280 $67,000.00 N
600068297 PAUL SHIELDS .00 .00 .00 .000 .250 .280 $170,000.00 N
600068300 WAYNE S THOM .00 .00 .00 .000 .250 .280 $300,000.00 N
600068301 EDWARD J HUDZIK .00 .00 .00 .000 .250 .280 $72,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600068302 JULIE SUK 59 HILLARY LANE WESTBURY NY 11590 $132,979.86
600068309 ROBERT GREG KINTZ 620 EATHERTON ROAD CHESTERFIELD MO 63005 $124,134.81
600068312 KIM C KAING 9318 EAST PERSHING AVENUE SCOTTSDALE AZ 85260 $129,431.33
600068313 MARY M LAVOY 7222 E. GAINEY RANCH RD. SCOTTSDALE AZ 85258 $143,374.13
600068315 YOVANA M AUSTIN 8225 NW 168 STREET MIAMI FL 33016 $134,586.61
600068316 TERRY C BAILEY 80 BUCKBOARD ROAD GREENEVILLE TN 37743 $54,592.80
600068318 MARVIN R MILLER 805 BRITWOOD DRIVE SOUTHW DECATUR AL 35601 $53,631.33
600068321 ENOCK EDOUARD 140 EAST MARSHALL STREET HEMPSTEAD NY 11550 $95,680.77
600068325 SARAH P HANDFORD 112 COUNTRYSIDE DRIVE BERNARDS TOWNSH NJ 07920 $64,048.20
600068327 BLANCA N LEON 68 FLORENCE AVENUE BROOKLYN NY 11229 $110,230.00
600068328 PAUL HOUSTON LAVALLE 1826 KEMAH OAKS DRIVE KEMAH TX 77565 $106,922.77
600068332 LATAINE K THOMAS 595 MENOMINEE ROAD LANGSTON AL 35755 $79,286.37
600068333 RICHARD A PATTON 505 EAST HELENA STREET BROKEN ARROW OK 74012 $21,688.24
600068335 JOHN C COCKS,JR PARKER FARM ROAD MOUNT DESERT ME 04660 $386,203.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600068302 JULIE SUK 7.750 .250 7.500 .0300 7.470 06/01/2012
600068309 ROBERT GREG KINTZ 7.875 .250 7.625 .0300 7.595 06/01/2012
600068312 KIM C KAING 8.500 .250 8.250 .0300 8.220 04/01/2012
600068313 MARY M LAVOY 7.250 .250 7.000 .0300 6.970 04/01/2012
600068315 YOVANA M AUSTIN 8.500 .250 8.250 .0300 8.220 06/01/2012
600068316 TERRY C BAILEY 7.750 .250 7.500 .0300 7.470 04/01/2012
600068318 MARVIN R MILLER 7.750 .250 7.500 .0300 7.470 04/01/2012
600068321 ENOCK EDOUARD 8.000 .250 7.750 .0300 7.720 03/01/2012
600068325 SARAH P HANDFORD 8.000 .250 7.750 .0300 7.720 06/01/2012
600068327 BLANCA N LEON 9.250 .250 9.000 .0300 8.970 05/01/2012
600068328 PAUL HOUSTON LAVALLE 7.000 .250 6.750 .0300 6.720 03/01/2012
600068332 LATAINE K THOMAS 7.750 .250 7.500 .0300 7.470 02/01/2012
600068333 RICHARD A PATTON 8.375 .250 8.125 .0300 8.095 06/01/2012
600068335 JOHN C COCKS,JR 8.500 .250 8.250 .0300 8.220 11/01/2011
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600068302 JULIE SUK 8100010 $1,270.72 11/01/1997 180
600068309 ROBERT GREG KINTZ 7870923 $1,195.05 11/01/1997 180
600068312 KIM C KAING 7505946 $1,314.63 11/01/1997 180
600068313 MARY M LAVOY 7506114 $1,338.26 11/01/1997 180
600068315 YOVANA M AUSTIN 7527136 $1,344.17 11/01/1997 180
600068316 TERRY C BAILEY 7530928 $536.53 11/01/1997 180
600068318 MARVIN R MILLER 7606275 $518.64 11/01/1997 180
600068321 ENOCK EDOUARD 7179076 $936.54 11/01/1997 180
600068325 SARAH P HANDFORD 7220242 $621.17 11/01/1997 180
600068327 BLANCA N LEON 7240558 $1,152.70 11/01/1997 180
600068328 PAUL HOUSTON LAVALLE 7261725 $986.46 11/01/1997 180
600068332 LATAINE K THOMAS 6597087 $790.67 11/01/1997 180
600068333 RICHARD A PATTON 5374416 $215.03 11/01/1997 180
600068335 JOHN C COCKS,JR 5405488 $3,938.96 11/01/1997 180
<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>
600068302 JULIE SUK .00 .00 .00 .000 .250 .280 $181,500.00 N
600068309 ROBERT GREG KINTZ .00 .00 .00 .000 .250 .280 $294,500.00 N
600068312 KIM C KAING .00 .00 .00 .000 .250 .280 $178,000.00 N
600068313 MARY M LAVOY .00 .00 .00 .000 .250 .280 $248,000.00 N
600068315 YOVANA M AUSTIN .00 .00 .00 .000 .250 .280 $210,000.00 N
600068316 TERRY C BAILEY .00 .00 .00 .000 .250 .280 $82,000.00 N
600068318 MARVIN R MILLER .00 .00 .00 .000 .250 .280 $73,500.00 N
600068321 ENOCK EDOUARD .00 .00 .00 .000 .250 .280 $140,000.00 N
600068325 SARAH P HANDFORD .00 .00 .00 .000 .250 .280 $205,000.00 N
600068327 BLANCA N LEON .00 .00 .00 .000 .250 .280 $140,000.00 N
600068328 PAUL HOUSTON LAVALLE .00 .00 .00 .000 .250 .280 $137,190.00 N
600068332 LATAINE K THOMAS .00 .00 .00 .000 .250 .280 $190,000.00 N
600068333 RICHARD A PATTON .00 .00 .00 .000 .250 .280 $107,000.00 N
600068335 JOHN C COCKS,JR .00 .00 .00 .000 .250 .280 $595,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600068336 JOSEPH M D'AMICO 910 WHIPPLE STREET TEWKSBURY MA 01876 $118,432.13
600068337 ROBERT L RICK 13310 PANORAMA AVENUE NOR STILLWATER MN 55082 $129,622.02
600068338 JERRY DON NESMITH 921 ROBIN ROAD LEVELLAND TX 79336 $47,493.77
600068342 JACQUELYN L HOUDESHELL 13486 COUNTY ROAD 216 FINDLAY OH 45840 $52,248.07
600068345 RICHARD K INK 698 S.W. ICON AVENUE PORT ST. LUCIE FL 33343 $88,667.75
600068349 DAVID C MCNALLY 1306 SE 21ST STREET BENTONVILLE AR 72712 $43,116.16
600068350 HERMAN CLYDE BURROUGH 3316 ARROWHEAD DRIVE EDMOND OK 73013 $104,440.57
600068351 CHARLES W LYTLE 1538 EAST 36TH PLACE TULSA OK 74105 $129,020.86
600068379 ROBERTO V ARZOLA 4606 LARIAT LOOP LAREDO TX 78041 $59,538.65
600069904 CRAWFORD 7959 FOOTHILL KNOLLS DRIV PLEASANTON CA 94588 $417,859.06
600069923 DOWIE 607 BAHAMA LANE FOSTER CITY CA 94404 $432,453.87
600069977 HILDRETH 415 SUMMIT DRIVE REDWOOD CITY CA 94062 $579,862.46
600069997 TENENBAUM/LEUNG 47-49 FORD STREET SAN FRANCISCO CA 94114 $424,060.90
600069998 RIDAD 3001 CANADA BOULEVARD GLENDALE CA 91208 $485,129.02
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600068336 JOSEPH M D'AMICO 8.250 .250 8.000 .0300 7.970 01/01/2012
600068337 ROBERT L RICK 7.750 .250 7.500 .0300 7.470 05/01/2012
600068338 JERRY DON NESMITH 7.625 .250 7.375 .0300 7.345 01/01/2012
600068342 JACQUELYN L HOUDESHELL 8.000 .250 7.750 .0300 7.720 01/01/2012
600068345 RICHARD K INK 7.875 .250 7.625 .0300 7.595 06/01/2012
600068349 DAVID C MCNALLY 8.000 .250 7.750 .0300 7.720 03/01/2012
600068350 HERMAN CLYDE BURROUGH 7.875 .250 7.625 .0300 7.595 03/01/2012
600068351 CHARLES W LYTLE 8.250 .250 8.000 .0300 7.970 04/01/2012
600068379 ROBERTO V ARZOLA 8.500 .250 8.250 .0300 8.220 11/01/2011
600069904 CRAWFORD 8.000 .250 7.750 .0500 7.700 07/01/2012
600069923 DOWIE 8.125 .250 7.875 .0500 7.825 07/01/2012
600069977 HILDRETH 8.625 .250 8.375 .0500 8.325 07/01/2012
600069997 TENENBAUM/LEUNG 9.000 .250 8.750 .0500 8.700 07/01/2012
600069998 RIDAD 9.125 .250 8.875 .0500 8.825 06/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600068336 JOSEPH M D'AMICO 5509506 $1,183.57 11/01/1997 180
600068337 ROBERT L RICK 5559076 $1,242.48 11/01/1997 180
600068338 JERRY DON NESMITH 5635043 $457.72 11/01/1997 180
600068342 JACQUELYN L HOUDESHELL 5829968 $527.52 11/01/1997 180
600068345 RICHARD K INK 5011625 $853.60 11/01/1997 180
600068349 DAVID C MCNALLY 4104265 $430.04 11/01/1997 180
600068350 HERMAN CLYDE BURROUGH 4105588 $1,014.84 11/01/1997 180
600068351 CHARLES W LYTLE 4105841 $1,280.59 11/01/1997 180
600068379 ROBERTO V ARZOLA 1018222 $615.95 11/01/1997 180
600069904 CRAWFORD 92449603 $3,074.47 11/01/1997 180
600069923 DOWIE 92449640 $3,219.47 11/01/1997 180
600069977 HILDRETH 92449738 $4,520.90 11/01/1997 180
600069997 TENENBAUM/LEUNG 92449852 $3,419.65 11/01/1997 180
600069998 RIDAD 92449853 $3,966.46 11/01/1997 180
<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>
600068336 JOSEPH M D'AMICO .00 .00 .00 .000 .250 .280 $190,000.00 N
600068337 ROBERT L RICK .00 .00 .00 .000 .250 .280 $165,000.00 N
600068338 JERRY DON NESMITH .00 .00 .00 .000 .250 .280 $70,000.00 N
600068342 JACQUELYN L HOUDESHELL .00 .00 .00 .000 .250 .280 $106,000.00 N
600068345 RICHARD K INK .00 .00 .00 .000 .250 .280 $113,000.00 N
600068349 DAVID C MCNALLY .00 .00 .00 .000 .250 .280 $84,500.00 N
600068350 HERMAN CLYDE BURROUGH .00 .00 .00 .000 .250 .280 $165,000.00 N
600068351 CHARLES W LYTLE .00 .00 .00 .000 .250 .280 $176,000.00 N
600068379 ROBERTO V ARZOLA .00 .00 .00 .000 .250 .280 $118,000.00 N
600069904 CRAWFORD .00 .00 .00 .000 .250 .300 $719,000.00 N
600069923 DOWIE .00 .00 .00 .000 .250 .300 $542,000.00 N
600069977 HILDRETH .00 .00 .00 .000 .250 .300 $775,000.00 N
600069997 TENENBAUM/LEUNG .00 .00 .00 .000 .250 .300 $624,000.00 N
600069998 RIDAD .00 .00 .00 .000 .250 .300 $650,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600069999 GUFFEY 740 HOBBS ROAD UPPER MERION TW PA 19087 $473,977.29
600070003 ABRAR 29311 CASTLEHILL DRIVE AGOURA HILLS CA 91301 $512,646.96
600070102 JOHN E DENNEHY 982 CENTRE STREET BROCKTON MA 02402 $86,366.55
600070111 JENNIFER FORREST 11090 ROYAL PALM BLVD, B8 CORAL SPRINGS FL 33065 $25,702.99
600070112 DAVID F COLLIER 4 WATERVIEW DRIVE OCEAN RIDGE FL 33435 $148,249.47
600070115 ALBERT YOUSEFZADEH 2001 CASTLE HEIGHTS AVENU LOS ANGELES CA 90034 $98,707.22
600070124 MORAD ZARABI 4100 GREEN MEADOW COURT (ENCINO AREA) CA 91316 $988,196.43
600070125 TODD M LANGSTON 1414 WAGON GAP TRAIL HOUSTON TX 77090 $34,607.79
600070128 KENNETH W SOUTHWICK 3505 VIOLET COURT WILMINGTON NC 28409 $64,545.49
600070129 PETER D NAPOLITANO 1153 BAY ROAD WEBSTER NY 14580 $73,226.38
600070136 YOUNG MAN YOO 1614 VILLAGE PARK PLACE WEST LINN OR 97068 $45,209.97
600070138 ROBERT W WHEMPNER 1775 BEARTOOTH ROAD WOLF CREEK MT 59648 $128,448.73
600070140 ROBERT K KIM 221 NORMANDY ROAD EDISON NJ 08820 $102,785.73
600070143 VINCENT R OBRZUT 1903 MORNING TIDE LANE LEAGUE CITY TX 77573 $83,985.74
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600069999 GUFFEY 9.125 .250 8.875 .0500 8.825 07/01/2012
600070003 ABRAR 9.250 .250 9.000 .0500 8.950 06/01/2012
600070102 JOHN E DENNEHY 8.000 .250 7.750 .0300 7.720 07/01/2012
600070111 JENNIFER FORREST 8.250 .250 8.000 .0300 7.970 07/01/2012
600070112 DAVID F COLLIER 8.500 .250 8.250 .0300 8.220 07/01/2012
600070115 ALBERT YOUSEFZADEH 7.500 .250 7.250 .0300 7.220 07/01/2012
600070124 MORAD ZARABI 7.875 .250 7.625 .0300 7.595 07/01/2012
600070125 TODD M LANGSTON 8.000 .250 7.750 .0300 7.720 07/01/2012
600070128 KENNETH W SOUTHWICK 8.000 .250 7.750 .0300 7.720 06/01/2012
600070129 PETER D NAPOLITANO 9.250 .250 9.000 .0300 8.970 07/01/2012
600070136 YOUNG MAN YOO 7.875 .250 7.625 .0300 7.595 07/01/2012
600070138 ROBERT W WHEMPNER 7.750 .250 7.500 .0300 7.470 07/01/2012
600070140 ROBERT K KIM 8.000 .250 7.750 .0300 7.720 07/01/2012
600070143 VINCENT R OBRZUT 7.750 .250 7.500 .0300 7.470 07/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600069999 GUFFEY 92449855 $3,864.76 11/01/1997 180
600070003 ABRAR 92449866 $4,228.55 11/01/1997 180
600070102 JOHN E DENNEHY 9486143 $840.97 11/01/1997 180
600070111 JENNIFER FORREST 9082135 $252.24 11/01/1997 180
600070112 DAVID F COLLIER 9082429 $1,477.11 11/01/1997 180
600070115 ALBERT YOUSEFZADEH 9109709 $927.01 11/01/1997 180
600070124 MORAD ZARABI 9325141 $9,484.50 11/01/1997 180
600070125 TODD M LANGSTON 9375201 $430.04 11/01/1997 180
600070128 KENNETH W SOUTHWICK 8846650 $630.73 11/01/1997 180
600070129 PETER D NAPOLITANO 8849979 $761.60 11/01/1997 180
600070136 YOUNG MAN YOO 8926671 $433.92 11/01/1997 180
600070138 ROBERT W WHEMPNER 8972740 $1,223.66 11/01/1997 180
600070140 ROBERT K KIM 8982375 $993.88 11/01/1997 180
600070143 VINCENT R OBRZUT 9019042 $800.08 11/01/1997 180
<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>
600069999 GUFFEY .00 .00 .00 .000 .250 .300 $722,000.00 N
600070003 ABRAR .00 .00 .00 .000 .250 .300 $735,000.00 N
600070102 JOHN E DENNEHY .00 .00 .00 .000 .250 .280 $110,000.00 N
600070111 JENNIFER FORREST .00 .00 .00 .000 .250 .280 $36,000.00 N
600070112 DAVID F COLLIER .00 .00 .00 .000 .250 .280 $700,000.00 N
600070115 ALBERT YOUSEFZADEH .00 .00 .00 .000 .250 .280 $495,000.00 N
600070124 MORAD ZARABI .00 .00 .00 .000 .250 .280 $1,500,000.00 N
600070125 TODD M LANGSTON .00 .00 .00 .000 .250 .280 $85,000.00 N
600070128 KENNETH W SOUTHWICK .00 .00 .00 .000 .250 .280 $150,000.00 N
600070129 PETER D NAPOLITANO .00 .00 .00 .000 .250 .280 $92,500.00 N
600070136 YOUNG MAN YOO .00 .00 .00 .000 .250 .280 $61,000.00 N
600070138 ROBERT W WHEMPNER .00 .00 .00 .000 .250 .280 $175,000.00 N
600070140 ROBERT K KIM .00 .00 .00 .000 .250 .280 $230,000.00 N
600070143 VINCENT R OBRZUT .00 .00 .00 .000 .250 .280 $140,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600070144 ALBERT N JOHNSON 383 FRIDAY CREEK ROAD BURLINGTON WA 98233 $61,737.88
600070145 LONG Q KHAM 12315 9TH AVENUE SOUTHWES SEATTLE WA 98146 $103,041.83
600070149 YEUN JA LEE 10811 GREENWILLOW DRIVE HOUSTON TX 77035 $26,530.03
600070155 LAWRENCE G JOHNSON 24920 FIENO COURT CRESTLINE CA 92325 $39,532.99
600070157 CHARLES HAGAN 916 JERSEY AVENUE GLOUCESTER CITY NJ 08030 $24,473.78
600070158 OVED KIRAT 20 S. MIDLAND AVENUE UNIT KEARNY NJ 07032 $105,130.36
600070159 JOHN J WOJKOWIAK 112 DORCHESTER DRIVE SOUTHAMPTON NJ 08088 $49,403.36
600070160 OSCAR J CARMONA 100 E. VILLAGE BLVD #20 LAREDO TX 78041 $66,676.91
600070161 MARK J MURRAY 8830 COTTONWOOD LANE NORT OSSEO MN 55369 $71,562.73
600070162 ELIZABETH SENEKJIAN 100 QUARRY ST LAMBERTVILLE NJ 08530 $122,570.31
600070167 YOUNGOH KIM 20 DAVIS AVENUE BROOMALL PA 19008 $108,658.64
600070169 CANG HAI NGUYEN 1641 S. WENONAH AVENUE BERWYN IL 60402 $79,106.06
600070170 DAVID W KENNEDY 1608 NE 24TH STREET FORT LAUDERDALE FL 33305 $74,314.14
600070172 DONNA R TARLETON 8701 BLIND PASS ROAD #106 ST. PETERSBURG FL 33706 $48,083.57
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600070144 ALBERT N JOHNSON 7.500 .250 7.250 .0300 7.220 07/01/2012
600070145 LONG Q KHAM 7.625 .250 7.375 .0300 7.345 07/01/2012
600070149 YEUN JA LEE 7.625 .250 7.375 .0300 7.345 07/01/2012
600070155 LAWRENCE G JOHNSON 8.000 .250 7.750 .0300 7.720 07/01/2012
600070157 CHARLES HAGAN 8.875 .250 8.625 .0300 8.595 07/01/2007
600070158 OVED KIRAT 7.750 .250 7.500 .0300 7.470 07/01/2012
600070159 JOHN J WOJKOWIAK 7.750 .250 7.500 .0300 7.470 07/01/2012
600070160 OSCAR J CARMONA 7.500 .250 7.250 .0300 7.220 07/01/2012
600070161 MARK J MURRAY 8.125 .250 7.875 .0300 7.845 07/01/2012
600070162 ELIZABETH SENEKJIAN 7.125 .250 6.875 .0300 6.845 07/01/2012
600070167 YOUNGOH KIM 7.500 .250 7.250 .0300 7.220 07/01/2012
600070169 CANG HAI NGUYEN 8.500 .250 8.250 .0300 8.220 07/01/2012
600070170 DAVID W KENNEDY 8.125 .250 7.875 .0300 7.845 07/01/2012
600070172 DONNA R TARLETON 8.500 .250 8.250 .0300 8.220 05/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600070144 ALBERT N JOHNSON 9023752 $579.38 11/01/1997 180
600070145 LONG Q KHAM 9025638 $974.30 11/01/1997 180
600070149 YEUN JA LEE 8541808 $252.22 11/01/1997 180
600070155 LAWRENCE G JOHNSON 8647828 $382.26 11/01/1997 180
600070157 CHARLES HAGAN 8659878 $315.00 11/01/1997 120
600070158 OVED KIRAT 8660124 $1,001.52 11/01/1997 180
600070159 JOHN J WOJKOWIAK 8660368 $470.64 11/01/1997 180
600070160 OSCAR J CARMONA 8707800 $625.73 11/01/1997 180
600070161 MARK J MURRAY 8710863 $698.09 11/01/1997 180
600070162 ELIZABETH SENEKJIAN 8716681 $1,404.04 11/01/1997 180
600070167 YOUNGOH KIM 8423166 $1,019.71 11/01/1997 180
600070169 CANG HAI NGUYEN 8483046 $787.79 11/01/1997 180
600070170 DAVID W KENNEDY 8090797 $731.79 11/01/1997 180
600070172 DONNA R TARLETON 7777765 $482.52 11/01/1997 180
<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>
600070144 ALBERT N JOHNSON .00 .00 .00 .000 .250 .280 $122,000.00 N
600070145 LONG Q KHAM .00 .00 .00 .000 .250 .280 $149,000.00 N
600070149 YEUN JA LEE .00 .00 .00 .000 .250 .280 $47,000.00 N
600070155 LAWRENCE G JOHNSON .00 .00 .00 .000 .250 .280 $178,000.00 N
600070157 CHARLES HAGAN .00 .00 .00 .000 .250 .280 $65,000.00 N
600070158 OVED KIRAT .00 .00 .00 .000 .250 .280 $141,900.00 N
600070159 JOHN J WOJKOWIAK .00 .00 .00 .000 .250 .280 $87,000.00 N
600070160 OSCAR J CARMONA .00 .00 .00 .000 .250 .280 $90,000.00 N
600070161 MARK J MURRAY .00 .00 .00 .000 .250 .280 $104,000.00 N
600070162 ELIZABETH SENEKJIAN .00 .00 .00 .000 .250 .280 $255,000.00 N
600070167 YOUNGOH KIM .00 .00 .00 .000 .250 .280 $195,000.00 N
600070169 CANG HAI NGUYEN .00 .00 .00 .000 .250 .280 $138,000.00 N
600070170 DAVID W KENNEDY .00 .00 .00 .000 .250 .280 $158,000.00 N
600070172 DONNA R TARLETON .00 .00 .00 .000 .250 .280 $103,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600070173 FRANK J ANELLO 33 PICKWICK DRIVE NORTH SYOSSET NY 11791 $108,102.23
600070181 HENRY R CRAVEN 2232 AIRLANDS STREET LAS VEGAS NV 89134 $368,393.32
600070182 THOMAS KARIORIS 1121 PINCAY DRIVE HENDERSON NV 89015 $93,890.82
600070192 BRANDON C GIAP 124 CANARY AVENUE MCALLEN TX 78504 $290,093.03
600073518 HEWITT 43 OCTAVIA STREET SAN RAFAEL CA 94901 $227,970.58
600073540 LIVINGSTON 14 ST. LUCIA PLACE TIBURON CA 94920 $414,220.74
600073541 WADE 3402 & 3404 MARCUS AVENUE NEWPORT BEACH CA 92663 $454,744.51
600091187 MUSHARBU 31727 ACTION DRIVE WARREN MI 48092 $72,410.35
600091188 WIND 7352 LA VETA ST LOUIS MO 63117 $70,610.47
600091189 FRIEDLAE 5138 VILLAGE COMMONS DR WEST BLOOMFIELD MI 48322 $298,202.03
600091190 BAILEY 110 ROYAL PINE LANE CICERO IN 46034 $358,889.45
600091191 METCALF 2532 SOUTH 5TH AVENUE NORTH RIVERSIDE IL 60546 $99,432.78
600091192 KEANE 2244 ANDERSON DRIVE SE EAST GRAND RAPI MI 49506 $222,948.64
600091193 GUYNN 3915 BUSH AVENUE CLEVELAND OH 44109 $47,243.04
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600070173 FRANK J ANELLO 8.250 .250 8.000 .0300 7.970 05/01/2012
600070181 HENRY R CRAVEN 8.250 .250 8.000 .0300 7.970 07/01/2012
600070182 THOMAS KARIORIS 8.000 .250 7.750 .0300 7.720 07/01/2012
600070192 BRANDON C GIAP 7.750 .250 7.500 .0300 7.470 06/01/2012
600073518 HEWITT 7.875 .250 7.625 .0500 7.575 08/01/2012
600073540 LIVINGSTON 8.375 .250 8.125 .0500 8.075 08/01/2012
600073541 WADE 8.375 .250 8.125 .0500 8.075 08/01/2012
600091187 MUSHARBU 8.875 .250 8.625 .0500 8.575 08/01/2012
600091188 WIND 8.625 .250 8.375 .0500 8.325 09/01/2012
600091189 FRIEDLAE 7.625 .250 7.375 .0500 7.325 09/01/2012
600091190 BAILEY 7.625 .250 7.375 .0500 7.325 08/01/2012
600091191 METCALF 8.250 .250 8.000 .0500 7.950 09/01/2012
600091192 KEANE 7.500 .250 7.250 .0500 7.200 08/01/2012
600091193 GUYNN 8.625 .250 8.375 .0500 8.325 07/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600070173 FRANK J ANELLO 7826796 $1,067.15 11/01/1997 180
600070181 HENRY R CRAVEN 5623340 $3,615.23 11/01/1997 180
600070182 THOMAS KARIORIS 5397672 $907.87 11/01/1997 180
600070192 BRANDON C GIAP 4036827 $2,772.06 1 11/01/1997 180
600073518 HEWITT 92452354 $2,181.43 11/01/1997 180
600073540 LIVINGSTON 92452379 $3,154.30 11/01/1997 180
600073541 WADE 92452425 $3,462.89 11/01/1997 180
600091187 MUSHARBU 0925515 $735.00 11/01/1997 180
600091188 WIND 0927837 $704.38 11/01/1997 180
600091189 FRIEDLAE 0929959 $2,802.39 11/01/1997 180
600091190 BAILEY 0930044 $3,384.35 11/01/1997 180
600091191 METCALF 0931681 $970.14 11/01/1997 180
600091192 KEANE 0933323 $2,085.78 11/01/1997 180
600091193 GUYNN 0933795 $476.20 11/01/1997 180
<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>
600070173 FRANK J ANELLO .00 .00 .00 .000 .250 .280 $240,000.00 N
600070181 HENRY R CRAVEN .00 .00 .00 .000 .250 .280 $496,878.00 N
600070182 THOMAS KARIORIS .00 .00 .00 .000 .250 .280 $131,990.00 N
600070192 BRANDON C GIAP .00 .00 .00 .000 .250 .280 $310,000.00 N
600073518 HEWITT .00 .00 .00 .000 .250 .300 $365,000.00 N
600073540 LIVINGSTON .00 .00 .00 .000 .250 .300 $600,000.00 N
600073541 WADE .00 .00 .00 .000 .250 .300 $607,500.00 N
600091187 MUSHARBU .00 .00 .00 .000 .250 .300 $135,000.00 N
600091188 WIND .00 .00 .00 .000 .250 .300 $114,000.00 N
600091189 FRIEDLAE .00 .00 .00 .000 .250 .300 $424,000.00 N
600091190 BAILEY .00 .00 .00 .000 .250 .300 $555,000.00 N
600091191 METCALF .00 .00 .00 .000 .250 .300 $173,000.00 N
600091192 KEANE .00 .00 .00 .000 .250 .300 $287,000.00 N
600091193 GUYNN .00 .00 .00 .000 .250 .300 $69,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091194 MULDER 1806 DELWOOD AVE SW WYOMING MI 49509 $56,840.68
600091195 FUSE 11713 STERLINGHILL DRIVE AUSTIN TX 78758 $81,174.90
600091196 MELVIN J 7304 ST VINCENT STREET TAMPA FL 33614 $77,181.23
600091197 MATTIA 4419 MIDDLETON BLOOMFIELD MI 48323 $90,466.45
600091198 POTIS 8253 ELKO DRIVE ELLICOTT CITY MD 21043 $217,062.18
600091199 BENEDETT 1240 WEST WELLINGTON CHICAGO IL 60657 $478,612.87
600091200 DINKHA 2836 W JARVIS CHICAGO IL 60645 $141,176.54
600091201 KNOLL 3800 BAGGINS COVE AUSTIN TX 78739 $80,519.84
600091202 SHIVES 1117 W PRATT BLVD CHICAGO IL 60626 $278,303.45
600091203 GALLAGHE 534 WASHINGTON WEST CHICAGO IL 60185 $131,090.81
600091204 VELTMAN 7245 DENISON DR SE GRAND RAPIDS MI 49546 $294,225.34
600091205 KLOESS 29 PEACHTREE STREET MOUNTAIN BROOK AL 35213 $313,049.34
600091206 PHELAN 1450 TEAL COURT HOFFMAN ESTATES IL 60192 $239,781.60
600091207 HAMMOND 10159 RAINBOW LANE SPOTSYLVANIA VA 22553 $113,699.24
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091194 MULDER 8.375 .250 8.125 .0500 8.075 10/01/2012
600091195 FUSE 8.125 .250 7.875 .0500 7.825 08/01/2012
600091196 MELVIN J 8.250 .250 8.000 .0500 7.950 10/01/2012
600091197 MATTIA 7.875 .250 7.625 .0500 7.575 09/01/2012
600091198 POTIS 7.375 .250 7.125 .0500 7.075 09/01/2012
600091199 BENEDETT 8.000 .250 7.750 .0500 7.700 10/01/2012
600091200 DINKHA 8.000 .250 7.750 .0500 7.700 09/01/2012
600091201 KNOLL 7.750 .250 7.500 .0500 7.450 09/01/2012
600091202 SHIVES 7.500 .250 7.250 .0500 7.200 09/01/2012
600091203 GALLAGHE 7.375 .250 7.125 .0500 7.075 09/01/2012
600091204 VELTMAN 7.625 .250 7.375 .0500 7.325 09/01/2012
600091205 KLOESS 7.250 .250 7.000 .0500 6.950 09/01/2012
600091206 PHELAN 7.625 .250 7.375 .0500 7.325 10/01/2012
600091207 HAMMOND 7.375 .250 7.125 .0500 7.075 09/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091194 MULDER 0935179 $557.13 11/01/1997 180
600091195 FUSE 0936291 $790.53 11/01/1997 180
600091196 MELVIN J 0937466 $750.90 2 11/01/1997 180
600091197 MATTIA 0937519 $863.09 11/01/1997 180
600091198 POTIS 0937990 $2,009.11 11/01/1997 180
600091199 BENEDETT 0938216 $4,587.13 11/01/1997 180
600091200 DINKHA 0938220 $1,357.03 11/01/1997 180
600091201 KNOLL 0938258 $762.43 11/01/1997 180
600091202 SHIVES 0938324 $2,595.63 11/01/1997 180
600091203 GALLAGHE 0938446 $1,214.30 11/01/1997 180
600091204 VELTMAN 0938469 $2,765.03 11/01/1997 180
600091205 KLOESS 0938896 $2,875.52 11/01/1997 180
600091206 PHELAN 0938939 $2,246.58 11/01/1997 180
600091207 HAMMOND 0939026 $1,052.39 11/01/1997 180
<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>
600091194 MULDER .00 .00 .00 .000 .250 .300 $76,000.00 N
600091195 FUSE .00 .00 .00 .000 .250 .300 $109,500.00 N
600091196 MELVIN J .00 .00 .00 .000 .250 .300 $86,000.00 N
600091197 MATTIA .00 .00 .00 .000 .250 .300 $255,000.00 N
600091198 POTIS .00 .00 .00 .000 .250 .300 $273,000.00 N
600091199 BENEDETT .00 .00 .00 .000 .250 .300 $660,000.00 N
600091200 DINKHA .00 .00 .00 .000 .250 .300 $186,000.00 N
600091201 KNOLL .00 .00 .00 .000 .250 .300 $185,000.00 N
600091202 SHIVES .00 .00 .00 .000 .250 .300 $375,000.00 N
600091203 GALLAGHE .00 .00 .00 .000 .250 .300 $165,000.00 N
600091204 VELTMAN .00 .00 .00 .000 .250 .300 $420,000.00 N
600091205 KLOESS .00 .00 .00 .000 .250 .300 $535,000.00 N
600091206 PHELAN .00 .00 .00 .000 .250 .300 $345,000.00 N
600091207 HAMMOND .00 .00 .00 .000 .250 .300 $143,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091208 SHINELDE 2685 S 39 ROAD CADILLAC MI 49601 $39,890.67
600091209 GOMEZ MA 7236 HAMPSTEAD LANE PORTAGE MI 49024 $243,199.94
600091210 EVANS 21774 EAST RIVER RD GROSSE ILE MI 48138 $266,841.66
600091211 EVANS 17325 ROLLING WOODS NORTHVILLE MI 48167 $226,015.34
600091212 HORN 4310 FOREST LAKE DR E ANN ARBOR MI 48108 $258,441.75
600091213 GANTER 2227 WEBSTER CANYON CT COLUMBUS OH 43229 $59,663.41
600091214 DIETRICH 7919 OAK HOLLOW LANE FAIRFAX STATION VA 22039 $214,705.46
600091215 NALVEN 121 PRINCETON ROAD BROOKLINE MD 21670 $299,073.91
600091216 COOK 210 SHADY LANE SPRING LAKE MI 49456 $326,012.42
600091217 BUTLER S 8560 SHOREVIEW COURT JONESBORO GA 30236 $223,636.69
600091218 CASTILLO 4801 CULBREATH ISLES RD TAMPA FL 33629 $341,915.67
600091219 TEMPLE 1781 ROSLYN DRIVE COLUMBIA SC 29206 $245,503.40
600091220 WISTEDT 4414 DUNMORE RD MARIETTA GA 30068 $283,788.93
600091221 STILLWELL 27270 ARROYAL RD BONITA SPRINGS FL 34134 $39,757.65
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091208 SHINELDE 8.625 .250 8.375 .0500 8.325 10/01/2012
600091209 GOMEZ MA 6.625 .250 6.375 .0500 6.325 09/01/2012
600091210 EVANS 7.500 .250 7.250 .0500 7.200 10/01/2012
600091211 EVANS 7.500 .250 7.250 .0500 7.200 10/01/2012
600091212 HORN 7.625 .250 7.375 .0500 7.325 09/01/2012
600091213 GANTER 8.375 .250 8.125 .0500 8.075 09/01/2012
600091214 DIETRICH 7.625 .250 7.375 .0500 7.325 09/01/2012
600091215 NALVEN 7.250 .250 7.000 .0500 6.950 10/01/2012
600091216 COOK 7.500 .250 7.250 .0500 7.200 10/01/2012
600091217 BUTLER S 7.500 .250 7.250 .0500 7.200 09/01/2012
600091218 CASTILLO 7.500 .250 7.250 .0500 7.200 09/01/2012
600091219 TEMPLE 7.500 .250 7.250 .0500 7.200 09/01/2012
600091220 WISTEDT 7.625 .250 7.375 .0500 7.325 09/01/2012
600091221 STILLWELL 7.500 .250 7.250 .0500 7.200 09/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091208 SHINELDE 0939205 $396.83 11/01/1997 180
600091209 GOMEZ MA 0939244 $2,149.33 12 11/01/1997 180
600091210 EVANS 0939449 $2,481.15 11/01/1997 180
600091211 EVANS 0939468 $2,101.54 11/01/1997 180
600091212 HORN 0939570 $2,428.74 11/01/1997 180
600091213 GANTER 0939574 $586.46 11/01/1997 180
600091214 DIETRICH 0939696 $2,017.72 11/01/1997 180
600091215 NALVEN 0939736 $2,738.59 11/01/1997 180
600091216 COOK 0940075 $3,031.33 11/01/1997 180
600091217 BUTLER S 0940220 $2,085.78 11/01/1997 180
600091218 CASTILLO 0940490 $3,188.92 11/01/1997 180
600091219 TEMPLE 0940545 $2,289.72 11/01/1997 180
600091220 WISTEDT 0940571 $2,666.94 11/01/1997 180
600091221 STILLWELL 0940665 $370.80 11/01/1997 180
<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>
600091208 SHINELDE .00 .00 .00 .000 .250 .300 $95,000.00 N
600091209 GOMEZ MA .00 .00 .00 .000 .250 .300 $272,000.00 N
600091210 EVANS .00 .00 .00 .000 .250 .300 $800,000.00 N
600091211 EVANS .00 .00 .00 .000 .250 .300 $520,000.00 N
600091212 HORN .00 .00 .00 .000 .250 .300 $350,000.00 N
600091213 GANTER .00 .00 .00 .000 .250 .300 $118,000.00 N
600091214 DIETRICH .00 .00 .00 .000 .250 .300 $280,000.00 N
600091215 NALVEN .00 .00 .00 .000 .250 .300 $445,000.00 N
600091216 COOK .00 .00 .00 .000 .250 .300 $500,000.00 N
600091217 BUTLER S .00 .00 .00 .000 .250 .300 $300,000.00 N
600091218 CASTILLO .00 .00 .00 .000 .250 .300 $435,000.00 N
600091219 TEMPLE .00 .00 .00 .000 .250 .300 $360,000.00 N
600091220 WISTEDT .00 .00 .00 .000 .250 .300 $365,000.00 N
600091221 STILLWELL .00 .00 .00 .000 .250 .300 $540,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091222 REID 3921 GLENCREST COURT ATLANTA GA 30319 $349,843.80
600091223 MORGAN J 37 RUSKIN STREET SANTA ROSA BEAC FL 32459 $411,916.41
600091224 AWAN 8432 N AVERS SKOKIE IL 60076 $99,711.02
600091225 CARDENAS 7 GALLERIA DRIVE SAN ANTONIO TX 78257 $500,844.88
600091226 TAMAYO 800 SOUTH OAKLEY AVENUE CHICAGO IL 60612 $186,424.63
600091227 BOTINIS 8509 S 79TH AVE JUSTICE IL 60458 $100,720.83
600091228 SINGER 2875 WOODCLIFF CIRLCE SE EAST GRAND RAPI MI 49506 $249,244.97
600091229 CHANG 10811 MAPLECREST LANE POTOMAC MD 20854 $248,451.85
600091230 LAMY 9 KETTLE POND COURT POTOMAC MD 20854 $327,092.12
600091231 BERENS 1406 WAUKAZOO DR HOLLAND MI 49424 $348,965.95
600091232 DESILET 3712 WOODBURY DRIVE COLUMBIA SC 29209 $33,556.42
600091233 CRAWFORD 11893 BUNTON RD WILLIS MI 48191 $62,653.23
600091234 YAMARICK 174 CHARTERHOUSE COURT POWELL OH 43065 $397,602.70
600091235 GALLAGHE 33 COVE WAY N BETHANY BEACH DE 19930 $249,253.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091222 REID 7.375 .250 7.125 .0500 7.075 09/01/2012
600091223 MORGAN J 7.625 .250 7.375 .0500 7.325 09/01/2012
600091224 AWAN 8.000 .250 7.750 .0500 7.700 10/01/2012
600091225 CARDENAS 7.125 .250 6.875 .0500 6.825 09/01/2012
600091226 TAMAYO 8.125 .250 7.875 .0500 7.825 09/01/2012
600091227 BOTINIS 8.500 .250 8.250 .0500 8.200 10/01/2012
600091228 SINGER 7.500 .250 7.250 .0500 7.200 10/01/2012
600091229 CHANG 7.250 .250 7.000 .0500 6.950 09/01/2012
600091230 LAMY 8.000 .250 7.750 .0500 7.700 09/01/2012
600091231 BERENS 7.750 .250 7.500 .0500 7.450 10/01/2012
600091232 DESILET 8.125 .250 7.875 .0500 7.825 09/01/2012
600091233 CRAWFORD 7.875 .250 7.625 .0500 7.575 10/01/2007
600091234 YAMARICK 7.625 .250 7.375 .0500 7.325 09/01/2012
600091235 GALLAGHE 7.625 .250 7.375 .0500 7.325 10/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091222 REID 0940797 $3,238.13 11/01/1997 180
600091223 MORGAN J 0940871 $3,871.03 11/01/1997 180
600091224 AWAN 0940908 $955.65 11/01/1997 180
600091225 CARDENAS 0940922 $4,565.39 11/01/1997 180
600091226 TAMAYO 0941202 $1,805.40 11/01/1997 180
600091227 BOTINIS 0941233 $994.59 11/01/1997 180
600091228 SINGER 0941313 $2,317.53 11/01/1997 180
600091229 CHANG 0941499 $2,282.16 11/01/1997 180
600091230 LAMY 0941529 $3,144.10 11/01/1997 180
600091231 BERENS 0941703 $3,294.47 11/01/1997 180
600091232 DESILET 0941921 $324.98 11/01/1997 180
600091233 CRAWFORD 0941938 $760.21 11/01/1997 120
600091234 YAMARICK 0942204 $3,736.52 11/01/1997 180
600091235 GALLAGHE 0942251 $2,335.33 11/01/1997 180
<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>
600091222 REID .00 .00 .00 .000 .250 .300 $440,000.00 N
600091223 MORGAN J .00 .00 .00 .000 .250 .300 $518,000.00 N
600091224 AWAN .00 .00 .00 .000 .250 .300 $160,000.00 N
600091225 CARDENAS .00 .00 .00 .000 .250 .300 $720,000.00 N
600091226 TAMAYO .00 .00 .00 .000 .250 .300 $250,000.00 N
600091227 BOTINIS .00 .00 .00 .000 .250 .300 $157,000.00 N
600091228 SINGER .00 .00 .00 .000 .250 .300 $418,500.00 N
600091229 CHANG .00 .00 .00 .000 .250 .300 $400,000.00 N
600091230 LAMY .00 .00 .00 .000 .250 .300 $439,000.00 N
600091231 BERENS .00 .00 .00 .000 .250 .300 $500,000.00 N
600091232 DESILET .00 .00 .00 .000 .250 .300 $45,000.00 N
600091233 CRAWFORD .00 .00 .00 .000 .250 .300 $120,000.00 N
600091234 YAMARICK .00 .00 .00 .000 .250 .300 $500,000.00 N
600091235 GALLAGHE .00 .00 .00 .000 .250 .300 $470,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091236 WRIGHT 1783 SYLVAN DRIVE CLEARWATER FL 34615 $39,971.97
600091237 QUALLS 1005 EDGEWOOD BLVD BIRMINGHAM AL 35209 $114,671.34
600091238 BOEHM 2832 SHADY OAKS DRIVE TITUSVILLE FL 32796 $55,343.13
600091239 CHEN 5742 THURLOW HINSDALE IL 60521 $49,722.62
600091240 BROWN 612-14 MARY LEE LN EDMOND OK 73034 $77,380.67
600091241 NIELAND ST RT 2 BOX 833 SILSBEE TX 77656 $55,640.52
600091242 ENCARNAC 15 SORRELL PLACE DRIVE SAN ANTONIO TX 78248 $279,145.04
600091243 CAMP 2203 GODWIN SE GRAND RAPIDS MI 49507 $89,372.89
600091244 COX 2316 MONTCLAIRE STREET AUSTIN TX 78704 $83,998.04
600091245 CASSINI 207 HICKORY AVENUE BARTLETT IL 60103 $118,840.00
600091246 KRON 544 ETHEL STREET ATLANTA GA 30318 $199,382.60
600091247 YOUNG 411 DAYTON LAKEVIEW RD NEW CARLISLE OH 45344 $39,886.94
600091248 HOPKINS 3523 WILLIE WAY SPRING TX 77380 $46,265.91
600091249 KELLY 304 WEST MAIN ST YORKVILLE IL 60560 $64,816.29
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091236 WRIGHT 8.250 .250 8.000 .0500 7.950 09/01/2012
600091237 QUALLS 8.125 .250 7.875 .0500 7.825 10/01/2012
600091238 BOEHM 8.250 .250 8.000 .0500 7.950 10/01/2012
600091239 CHEN 8.500 .250 8.250 .0500 8.200 09/01/2012
600091240 BROWN 8.250 .250 8.000 .0500 7.950 10/01/2012
600091241 NIELAND 8.125 .250 7.875 .0500 7.825 10/01/2012
600091242 ENCARNAC 7.375 .250 7.125 .0500 7.075 10/01/2012
600091243 CAMP 7.875 .250 7.625 .0500 7.575 09/01/2012
600091244 COX 8.250 .250 8.000 .0500 7.950 09/01/2012
600091245 CASSINI 7.500 .250 7.250 .0500 7.200 10/01/2012
600091246 KRON 7.250 .250 7.000 .0500 6.950 10/01/2012
600091247 YOUNG 8.250 .250 8.000 .0500 7.950 10/01/2012
600091248 HOPKINS 8.000 .250 7.750 .0500 7.700 10/01/2012
600091249 KELLY 8.250 .250 8.000 .0500 7.950 10/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091236 WRIGHT 0942599 $390.00 11/01/1997 180
600091237 QUALLS 0943026 $1,107.31 11/01/1997 180
600091238 BOEHM 0943076 $538.43 11/01/1997 180
600091239 CHEN 0943593 $492.37 11/01/1997 180
600091240 BROWN 0943617 $752.83 11/01/1997 180
600091241 NIELAND 0943719 $537.29 2 11/01/1997 180
600091242 ENCARNAC 0943763 $2,575.79 11/01/1997 180
600091243 CAMP 0943967 $852.66 11/01/1997 180
600091244 COX 0945023 $821.71 11/01/1997 180
600091245 CASSINI 0945165 $1,105.00 11/01/1997 180
600091246 KRON 0946594 $1,825.73 11/01/1997 180
600091247 YOUNG 0946755 $388.06 11/01/1997 180
600091248 HOPKINS 0947016 $443.42 11/01/1997 180
600091249 KELLY 0947030 $630.59 11/01/1997 180
<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>
600091236 WRIGHT .00 .00 .00 .000 .250 .300 $67,000.00 N
600091237 QUALLS .00 .00 .00 .000 .250 .300 $162,500.00 N
600091238 BOEHM .00 .00 .00 .000 .250 .300 $74,000.00 N
600091239 CHEN .00 .00 .00 .000 .250 .300 $185,000.00 N
600091240 BROWN .00 .00 .00 .000 .250 .300 $97,000.00 N
600091241 NIELAND .00 .00 .00 .000 .250 .300 $62,000.00 N
600091242 ENCARNAC .00 .00 .00 .000 .250 .300 $350,000.00 N
600091243 CAMP .00 .00 .00 .000 .250 .300 $120,000.00 N
600091244 COX .00 .00 .00 .000 .250 .300 $121,000.00 N
600091245 CASSINI .00 .00 .00 .000 .250 .300 $149,000.00 N
600091246 KRON .00 .00 .00 .000 .250 .300 $270,000.00 N
600091247 YOUNG .00 .00 .00 .000 .250 .300 $180,000.00 N
600091248 HOPKINS .00 .00 .00 .000 .250 .300 $58,000.00 N
600091249 KELLY .00 .00 .00 .000 .250 .300 $107,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091250 WANG 13517 KILLDEER TRAIL GRAND HAVEN MI 49417 $77,774.59
600091251 KOBEL 746 STEWART AVE ELGIN IL 60123 $63,815.05
600091252 SALDANA 2113 PIONEER WAY PINE MOUNTAIN C CA 93225 $49,458.15
600091253 FOGARTY 11412 DRYSDALE LANE LOS ALAMITOS CA 90720 $313,091.37
600091254 MCFATHER 1750 NEWPORT AVENUE PASADENA CA 91103 $34,898.85
600091255 WONG 2117- 2119 10TH AVENUE OAKLAND CA 94606 $87,559.98
600091256 FESHBACH 27600 EDGERTON ROAD LOS ALTOS HILLS CA 94022 $781,412.54
600091257 KORBER 10275 GUTIERREZ ROAD NE ALBUQUERQUE NM 87111 $133,570.91
600091258 BERGMAN 13578 FAIRWAY LOOP NORTH GOODYEAR AZ 85338 $124,259.00
600091259 KEARNS 723A FLEET FOOT ROAD TIJERAS NM 87059 $63,612.21
600091260 GRIEGO 27260 I-25 EAST FRONTAGE SANTA FE NM 87505 $131,267.70
600091261 LANDA 2409 BRODERICK AVENUE DUARTE CA 91010 $101,200.65
600091262 NORDAHL 938 SOUTHWEST 12TH STREE REDMOND OR 97756 $39,762.88
600091263 PATEL 1832 EAST CLAIRE DRIVE PHOENIX AZ 85022 $267,171.31
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091250 WANG 8.000 .250 7.750 .0500 7.700 10/01/2012
600091251 KOBEL 8.000 .250 7.750 .0500 7.700 10/01/2012
600091252 SALDANA 7.875 .250 7.625 .0500 7.575 08/01/2012
600091253 FOGARTY 7.500 .250 7.250 .0500 7.200 09/01/2012
600091254 MCFATHER 8.000 .250 7.750 .0500 7.700 10/01/2012
600091255 WONG 8.125 .250 7.875 .0500 7.825 09/01/2012
600091256 FESHBACH 7.500 .250 7.250 .0500 7.200 09/01/2012
600091257 KORBER 8.000 .250 7.750 .0500 7.700 09/01/2012
600091258 BERGMAN 7.750 .250 7.500 .0500 7.450 09/01/2012
600091259 KEARNS 7.500 .250 7.250 .0500 7.200 09/01/2012
600091260 GRIEGO 8.500 .250 8.250 .0500 8.200 09/01/2012
600091261 LANDA 7.875 .250 7.625 .0500 7.575 09/01/2012
600091262 NORDAHL 7.750 .250 7.500 .0500 7.450 09/01/2012
600091263 PATEL 7.500 .250 7.250 .0500 7.200 09/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091250 WANG 0947395 $745.41 11/01/1997 180
600091251 KOBEL 0947670 $611.62 11/01/1997 180
600091252 SALDANA 6211628 $474.23 11/01/1997 180
600091253 FOGARTY 6214199 $2,920.09 11/01/1997 180
600091254 MCFATHER 6215595 $334.48 11/01/1997 180
600091255 WONG 6233448 $866.60 11/01/1997 180
600091256 FESHBACH 6233576 $7,388.29 11/01/1997 180
600091257 KORBER 6235591 $1,283.92 11/01/1997 180
600091258 BERGMAN 6236073 $1,176.60 11/01/1997 180
600091259 KEARNS 6236208 $593.29 11/01/1997 180
600091260 GRIEGO 6311081 $1,299.86 11/01/1997 180
600091261 LANDA 6311405 $967.42 11/01/1997 180
600091262 NORDAHL 6311648 $376.51 11/01/1997 180
600091263 PATEL 6312059 $2,491.81 11/01/1997 180
<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>
600091250 WANG .00 .00 .00 .000 .250 .300 $138,000.00 N
600091251 KOBEL .00 .00 .00 .000 .250 .300 $80,000.00 N
600091252 SALDANA .00 .00 .00 .000 .250 .300 $120,000.00 N
600091253 FOGARTY .00 .00 .00 .000 .250 .300 $615,000.00 N
600091254 MCFATHER .00 .00 .00 .000 .250 .300 $135,000.00 N
600091255 WONG .00 .00 .00 .000 .250 .300 $160,000.00 N
600091256 FESHBACH .00 .00 .00 .000 .250 .300 $1,360,000.00 N
600091257 KORBER .00 .00 .00 .000 .250 .300 $167,990.00 N
600091258 BERGMAN .00 .00 .00 .000 .250 .300 $320,000.00 N
600091259 KEARNS .00 .00 .00 .000 .250 .300 $118,000.00 N
600091260 GRIEGO .00 .00 .00 .000 .250 .300 $181,000.00 N
600091261 LANDA .00 .00 .00 .000 .250 .300 $136,000.00 N
600091262 NORDAHL .00 .00 .00 .000 .250 .300 $85,000.00 N
600091263 PATEL .00 .00 .00 .000 .250 .300 $336,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600091264 BROMMER 2819 WEST GLENN DRIVE PHOENIX AZ 85051 $294,166.98
600091265 DREWSEN 6106 EAST SHANGRI-LA ROA SCOTTSDALE AZ 85254 $445,373.29
600091266 NAIDOO 12657 NORTH 135TH STREET SCOTTSDALE AZ 85259 $396,634.75
600091267 GULLY 8672 EAST BRONCO TRAIL SCOTTSDALE AZ 85255 $320,070.17
600091268 GLOVER 1224 WEST SELDON LANE PHOENIX AZ 85021 $283,329.00
600091269 GARCIA 730 WEST DREXEL ROAD TUCSON AZ 85706 $39,635.12
600104491 LI 1072 VIA MIRALESTE CHULA VISTA CA 91910 $151,865.91
600104504 WOO 2591 STEEPLECHASE LN DIAMOND BAR CA 91765 $453,283.40
600104513 CHO 2272 26TH ST SANTA MONICA CA 90405 $295,510.74
600104526 BENNETT 2491 LAMBERT DR PASADENA CA 91107 $94,188.91
600104527 LYN 1721 PORR STIRLING PL NEWPORT BEACH CA 92660 $300,209.75
600104536 CALDARA 8800 CORTILE DR LAS VEGAS NV 89134 $393,807.05
600104539 NEUWIRTH 6360 ROANOKE RD OAKLAND CA 94618 $307,069.80
600104540 SALMERON 1761 WALNUT ST EL CERRITO CA 94530 $244,108.09
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600091264 BROMMER 7.250 .250 7.000 .0500 6.950 09/01/2012
600091265 DREWSEN 7.875 .250 7.625 .0500 7.575 09/01/2012
600091266 NAIDOO 7.750 .250 7.500 .0500 7.450 09/01/2012
600091267 GULLY 7.625 .250 7.375 .0500 7.325 09/01/2012
600091268 GLOVER 7.875 .250 7.625 .0500 7.575 09/01/2012
600091269 GARCIA 8.000 .250 7.750 .0500 7.700 10/01/2012
600104491 LI 7.750 .250 7.500 .0500 7.450 07/01/2012
600104504 WOO 7.375 .250 7.125 .0500 7.075 08/01/2012
600104513 CHO 7.750 .250 7.500 .0500 7.450 06/01/2012
600104526 BENNETT 8.250 .250 8.000 .0500 7.950 08/01/2012
600104527 LYN 7.750 .250 7.500 .0500 7.450 09/01/2012
600104536 CALDARA 7.500 .250 7.250 .0500 7.200 10/01/2012
600104539 NEUWIRTH 7.500 .250 7.250 .0500 7.200 10/01/2012
600104540 SALMERON 8.250 .250 8.000 .0500 7.950 10/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600091264 BROMMER 6312154 $2,702.08 11/01/1997 180
600091265 DREWSEN 6312247 $4,249.06 11/01/1997 180
600091266 NAIDOO 6312277 $3,755.69 11/01/1997 180
600091267 GULLY 6312320 $3,007.90 11/01/1997 180
600091268 GLOVER 6312352 $2,703.08 11/01/1997 180
600091269 GARCIA 6312555 $379.88 11/01/1997 180
600104491 LI 9159790451 $1,446.75 11/01/1997 180
600104504 WOO 9199359994 $4,208.65 11/01/1997 180
600104513 CHO 9199641300 $2,823.83 11/01/1997 180
600104526 BENNETT 9199758633 $921.64 11/01/1997 180
600104527 LYN 9199759409 $2,842.66 11/01/1997 180
600104536 CALDARA 9199808156 $3,661.70 11/01/1997 180
600104539 NEUWIRTH 9199814634 $2,855.20 11/01/1997 180
600104540 SALMERON 9199814931 $2,374.91 11/01/1997 180
<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>
600091264 BROMMER .00 .00 .00 .000 .250 .300 $415,000.00 N
600091265 DREWSEN .00 .00 .00 .000 .250 .300 $560,000.00 N
600091266 NAIDOO .00 .00 .00 .000 .250 .300 $635,000.00 N
600091267 GULLY .00 .00 .00 .000 .250 .300 $485,000.00 N
600091268 GLOVER .00 .00 .00 .000 .250 .300 $450,000.00 N
600091269 GARCIA .00 .00 .00 .000 .250 .300 $53,000.00 N
600104491 LI $202,500.00 N
600104504 WOO $915,000.00 N
600104513 CHO $430,000.00 N
600104526 BENNETT $275,000.00 N
600104527 LYN $590,000.00 N
600104536 CALDARA $530,000.00 N
600104539 NEUWIRTH $385,000.00 N
600104540 SALMERON $306,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104541 MCCAULOU 5639 STARFISH PL BYRON CA 94514 $333,065.34
600104552 FARBER 365 CROWN RD KENTFIELD CA 94904 $584,238.54
600104566 VAN 6102 PALISADE DR HUNTINGTON BEAC CA 92647 $251,230.54
600104582 MECKENSTOCK 14681 LA RINCONADA DR LOS GATOS CA 95030 $284,176.39
600104584 TATENO 2202 GREER RD PALO ALTO CA 94303 $480,000.00
600104591 BARTLETT SCOTT P. 500 WEST MORELAND AV PHILADELPHI PA 19118 $389,913.34
600104592 DOWNMAN CYNTHIA G 347 JACKSON ROAD FLETCHER NC 28732 $329,397.46
600104593 BOLSTER DAVID E 8654 WEST FAIRWA NORTH CHARL SC 29420 $286,137.03
600104594 BAKER CATHERINE 569 GOLDEN LINKS DR ORANGE PARK FL 32073 $256,518.91
600104595 POWELL ALAN E 190 BEECHNUT COURT LEES SUMMIT MO 64064 $255,402.54
600104596 WEYANDT TIMOTHY B. RD 1 BOX 387D HUNTINGDON PA 16652 $265,745.73
600104597 FORSELL LYNN D 21 FERNWOOD ROAD SUMMIT NJ 07901 $491,833.47
600104598 FELDMEIER JOHN J 15044 KAY CIRCLE MONROE MI 48161 $294,146.98
600104599 COFFMAN CAROL L. 261 PERRY STREET MILL VALLEY CA 94941 $292,256.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104541 MCCAULOU 8.000 .250 7.750 .0500 7.700 07/01/2012
600104552 FARBER 6.875 .250 6.625 .0500 6.575 09/01/2012
600104566 VAN 7.375 .250 7.125 .0500 7.075 10/01/2012
600104582 MECKENSTOCK 8.000 .250 7.750 .0500 7.700 10/01/2012
600104584 TATENO 7.250 .250 7.000 .0500 6.950 11/01/2012
600104591 BARTLETT SCOTT P. 7.150 .200 6.950 .0400 6.910 02/01/2009
600104592 DOWNMAN CYNTHIA G 7.250 .200 7.050 .0400 7.010 09/01/2012
600104593 BOLSTER DAVID E 7.250 .200 7.050 .0400 7.010 09/01/2012
600104594 BAKER CATHERINE 7.000 .200 6.800 .0400 6.760 09/01/2012
600104595 POWELL ALAN E 6.500 .200 6.300 .0400 6.260 09/01/2012
600104596 WEYANDT TIMOTHY B. 7.000 .200 6.800 .0400 6.760 08/01/2012
600104597 FORSELL LYNN D 6.875 .200 6.675 .0400 6.635 09/01/2012
600104598 FELDMEIER JOHN J 7.125 .200 6.925 .0400 6.885 09/01/2012
600104599 COFFMAN CAROL L. 7.125 .200 6.925 .0400 6.885 09/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104541 MCCAULOU 9199835324 $3,220.55 11/01/1997 180
600104552 FARBER 9199911562 $5,244.11 11/01/1997 180
600104566 VAN 9199942336 $2,318.21 11/01/1997 180
600104582 MECKENSTOCK 9199965907 $2,723.61 11/01/1997 180
600104584 TATENO 9199967549 $4,381.75 11/01/1997 180
600104591 BARTLETT SCOTT P. 4554150 $4,663.19 11/01/1997 180
600104592 DOWNMAN CYNTHIA G 5104179 $3,025.69 11/01/1997 180
600104593 BOLSTER DAVID E 5116561 $2,628.32 19 11/01/1997 180
600104594 BAKER CATHERINE 5138490 $2,336.96 11/01/1997 180
600104595 POWELL ALAN E 5155783 $2,252.69 11/01/1997 180
600104596 WEYANDT TIMOTHY B. 5160601 $2,411.56 11/01/1997 180
600104597 FORSELL LYNN D 5207410 $4,414.68 11/01/1997 180
600104598 FELDMEIER JOHN J 5216338 $2,681.27 11/01/1997 180
600104599 COFFMAN CAROL L. 5217245 $2,664.04 11/01/1997 180
<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>
600104541 MCCAULOU $560,000.00 N
600104552 FARBER $735,000.00 N
600104566 VAN $315,000.00 N
600104582 MECKENSTOCK $700,000.00 N
600104584 TATENO $656,000.00 N
600104591 BARTLETT SCOTT P. $700,000.00 N
600104592 DOWNMAN CYNTHIA G $464,000.00 N
600104593 BOLSTER DAVID E $359,900.00 N
600104594 BAKER CATHERINE $325,500.00 N
600104595 POWELL ALAN E $375,000.00 N
600104596 WEYANDT TIMOTHY B. $350,000.00 N
600104597 FORSELL LYNN D $700,000.00 N
600104598 FELDMEIER JOHN J $370,000.00 N
600104599 COFFMAN CAROL L. $375,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104600 DAVIDSON DON D 5817 HEMPSTEAD RD MADISON WI 53711 $228,805.17
600104601 MACCUBBIN STEVE 65 WILDWOOD LANE NOVATO CA 94947 $269,357.96
600104602 MCARDLE EAMONN M. 7719 TIBURON TRAIL SUGAR LAND TX 77479 $296,174.87
600104603 IELASE JAMES 1395 ASHLAND AVE. MOUNT ZION IL 62549 $282,600.72
600104604 MILLER ERIC R. 3193 WEST LAS POSITAS BOU PLEASANTON CA 94588 $234,504.35
600104605 KLAGES SCOTT A. 5300 VIA BRUMOSA YORBA LINDA CA 92886 $313,978.54
600104606 WONG COREY JUE 6911 CORTE BARCELONA PLEASANTON CA 94566 $273,785.28
600104607 KOO CATHERINE 779 NORANDA DRIVE SUNNYVALE CA 94087 $284,467.61
600104608 HOROWITZ BERNARD 2525 OCEAN BOULEVARD D-6 NEWPORT BEA CA 92625 $296,156.18
600104609 GABLER RONALD G. 25514 COLETTE WAY CALABASAS CA 91302 $293,092.43
600104610 BLACK RANDALL W. 480 HILLGREEN DRIVE BEVERLY HIL CA 90212 $521,605.17
600104611 FREEMAN BRIAN 4 WATERFORD WAY NEWPORT BEA CA 92657 $485,592.22
600104612 SALLE DAVID S. 1525 NORMAN AVENUE SAN JOSE CA 95125 $254,177.05
600104613 CRICHFIELD DOUGLAS 20 STARK HIGHWAY NORTH DUNBA NH 03045 $258,458.74
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104600 DAVIDSON DON D 7.500 .200 7.300 .0400 7.260 09/01/2012
600104601 MACCUBBIN STEVE 7.500 .200 7.300 .0400 7.260 09/01/2012
600104602 MCARDLE EAMONN M. 7.000 .200 6.800 .0400 6.760 09/01/2012
600104603 IELASE JAMES 6.750 .200 6.550 .0400 6.510 09/01/2012
600104604 MILLER ERIC R. 7.875 .200 7.675 .0400 7.635 09/01/2012
600104605 KLAGES SCOTT A. 6.875 .200 6.675 .0400 6.635 09/01/2012
600104606 WONG COREY JUE 7.875 .200 7.675 .0400 7.635 09/01/2012
600104607 KOO CATHERINE 7.875 .200 7.675 .0400 7.635 08/01/2012
600104608 HOROWITZ BERNARD 7.375 .200 7.175 .0400 7.135 09/01/2012
600104609 GABLER RONALD G. 6.750 .200 6.550 .0400 6.510 09/01/2012
600104610 BLACK RANDALL W. 6.750 .200 6.550 .0400 6.510 09/01/2012
600104611 FREEMAN BRIAN 7.750 .200 7.550 .0400 7.510 09/01/2012
600104612 SALLE DAVID S. 7.875 .200 7.675 .0400 7.635 09/01/2012
600104613 CRICHFIELD DOUGLAS 7.750 .200 7.550 .0400 7.510 09/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104600 DAVIDSON DON D 5450895 $2,133.99 11/01/1997 180
600104601 MACCUBBIN STEVE 5451315 $2,512.21 11/01/1997 180
600104602 MCARDLE EAMONN M. 5454806 $2,682.10 11/01/1997 180
600104603 IELASE JAMES 5456116 $2,517.04 11/01/1997 180
600104604 MILLER ERIC R. 5456678 $2,238.35 11/01/1997 180
600104605 KLAGES SCOTT A. 5457080 $2,818.26 11/01/1997 180
600104606 WONG COREY JUE 5460340 $2,612.03 11/01/1997 180
600104607 KOO CATHERINE 5460555 $2,722.05 11/01/1997 180
600104608 HOROWITZ BERNARD 5461918 $2,759.77 11/01/1997 180
600104609 GABLER RONALD G. 5463930 $2,610.49 11/01/1997 180
600104610 BLACK RANDALL W. 5464474 $4,645.78 11/01/1997 180
600104611 FREEMAN BRIAN 5466727 $4,659.32 11/01/1997 180
600104612 SALLE DAVID S. 5472451 $2,428.04 11/01/1997 180
600104613 CRICHFIELD DOUGLAS 5474705 $2,447.32 11/01/1997 180
<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>
600104600 DAVIDSON DON D $287,790.00 N
600104601 MACCUBBIN STEVE $540,000.00 N
600104602 MCARDLE EAMONN M. $373,000.00 N
600104603 IELASE JAMES $355,550.00 N
600104604 MILLER ERIC R. $295,000.00 N
600104605 KLAGES SCOTT A. $395,000.00 N
600104606 WONG COREY JUE $375,000.00 N
600104607 KOO CATHERINE $410,000.00 N
600104608 HOROWITZ BERNARD $550,000.00 N
600104609 GABLER RONALD G. $1,040,000.00 N
600104610 BLACK RANDALL W. $765,000.00 N
600104611 FREEMAN BRIAN $720,000.00 N
600104612 SALLE DAVID S. $460,000.00 N
600104613 CRICHFIELD DOUGLAS $330,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104614 MEACHAM JOSEPH T. 2599 ARAGON COURT SAN JOSE CA 95125 $255,459.72
600104615 OHLGREN SCOTT 2556 COUNTY ROAD 204 DURANGO CO 81301 $298,260.30
600104616 GARAHAN FRANCIS M. 73070 CALLIANDRA STREET PALM DESERT CA 92260 $248,451.85
600104617 BERNSTEIN DAVID C. 222-24 EAST CHURCH ROAD ELKINS PARK PA 19027 $336,727.87
600104618 ASLANIS JAMES T 1041 COVINGTON ROAD LOS ALTOS CA 94024 $293,095.96
600104619 LENCI STANLEY J. 24655 VIA MELINDA YORBA LINDA CA 92687 $227,177.62
600104620 HUNG STEWART 161 FERNDALE RD SCARSDALE NY 10583 $238,561.60
600104621 GREEN, III JOHN ROBER 9642 NORRIS FERRY ROAD SHREVEPORT LA 71106 $247,720.69
600104622 GRECO ANTHONY 3200 EAST LARSON WAY SHOW LOW AZ 85901 $214,662.39
600104623 HADI-SADEGH SEYED 1508 VILLAMARE HILTON HEAD SC 29928 $247,670.75
600104624 CLEARY SEAN 3938 WEATHERWOOD TRAIL VERONA WI 53593 $259,809.48
600104625 OHANESSIAN VAHE 3314 BARNES CIRCLE GLENDALE CA 91208 $492,092.39
600104626 MCCOMB DOUGLAS M. 2625 WIND STAR COURT FORT WAYNE IN 46845 $359,830.43
600104627 HOURANI MICHEL 790 WILLIAMS WAY VERNON HILL IL 60061 $228,916.74
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104614 MEACHAM JOSEPH T. 7.625 .200 7.425 .0400 7.385 09/01/2012
600104615 OHLGREN SCOTT 8.000 .200 7.800 .0400 7.760 09/01/2012
600104616 GARAHAN FRANCIS M. 7.250 .200 7.050 .0400 7.010 09/01/2012
600104617 BERNSTEIN DAVID C. 6.875 .200 6.675 .0400 6.635 08/01/2012
600104618 ASLANIS JAMES T 7.250 .200 7.050 .0400 7.010 08/01/2012
600104619 LENCI STANLEY J. 7.875 .200 7.675 .0400 7.635 08/01/2012
600104620 HUNG STEWART 7.625 .200 7.425 .0400 7.385 09/01/2012
600104621 GREEN, III JOHN ROBER 7.500 .200 7.300 .0400 7.260 08/01/2012
600104622 GRECO ANTHONY 7.250 .200 7.050 .0400 7.010 09/01/2012
600104623 HADI-SADEGH SEYED 7.250 .200 7.050 .0400 7.010 08/01/2012
600104624 CLEARY SEAN 7.500 .200 7.300 .0400 7.260 08/01/2012
600104625 OHANESSIAN VAHE 7.250 .200 7.050 .0400 7.010 08/01/2012
600104626 MCCOMB DOUGLAS M. 7.625 .200 7.425 .0400 7.385 09/01/2012
600104627 HOURANI MICHEL 7.625 .200 7.425 .0400 7.385 08/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104614 MEACHAM JOSEPH T. 5490701 $2,400.72 11/01/1997 180
600104615 OHLGREN SCOTT 5491287 $2,866.96 11/01/1997 180
600104616 GARAHAN FRANCIS M. 5492905 $2,282.16 11/01/1997 180
600104617 BERNSTEIN DAVID C. 6039093 $3,032.31 11/01/1997 180
600104618 ASLANIS JAMES T 6069116 $2,738.59 11/01/1997 180
600104619 LENCI STANLEY J. 6110035 $2,173.85 11/01/1997 180
600104620 HUNG STEWART 6111876 $2,241.92 11/01/1997 180
600104621 GREEN, III JOHN ROBER 6113252 $2,317.54 11/01/1997 180
600104622 GRECO ANTHONY 6115539 $1,971.79 19 11/01/1997 180
600104623 HADI-SADEGH SEYED 6124770 $2,282.16 11/01/1997 180
600104624 CLEARY SEAN 6125843 $2,430.63 11/01/1997 180
600104625 OHANESSIAN VAHE 6126361 $4,564.31 11/01/1997 180
600104626 MCCOMB DOUGLAS M. 6130132 $3,381.56 11/01/1997 180
600104627 HOURANI MICHEL 6131783 $2,157.84 11/01/1997 180
<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>
600104614 MEACHAM JOSEPH T. $380,000.00 N
600104615 OHLGREN SCOTT $500,000.00 N
600104616 GARAHAN FRANCIS M. $345,000.00 N
600104617 BERNSTEIN DAVID C. $425,000.00 N
600104618 ASLANIS JAMES T $650,000.00 N
600104619 LENCI STANLEY J. $349,000.00 N
600104620 HUNG STEWART $325,000.00 N
600104621 GREEN, III JOHN ROBER $314,000.00 N
600104622 GRECO ANTHONY $240,000.00 N
600104623 HADI-SADEGH SEYED $350,000.00 N
600104624 CLEARY SEAN $405,000.00 N
600104625 OHANESSIAN VAHE $645,000.00 N
600104626 MCCOMB DOUGLAS M. $454,400.00 N
600104627 HOURANI MICHEL $330,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104628 DRAWBRIDGE ROBERT E 5915 DESCO DRIVE DALLAS TX 75225 $495,290.93
600104629 HALLER TERRY L. 3015 WOODLAND TRAIL MIDDLETON WI 53562 $285,374.25
600104630 VEERMAN BRETT 7838 BLACK RIVER RD. MIDDLETON WI 52593 $313,675.82
600104631 PHILPOT JOHN M. 2807 ROSE AVENUE MC HENRY IL 60050 $258,719.53
600104632 BRATSCHUN THOMAS D. 36 MULE DEER TRAIL LITTLETON CO 80127 $297,204.91
600104633 TRIBUS CLIFFORD B 403 FARWELL DRIVE MAPLE BLUFF WI 53704 $355,026.61
600104634 HOGG RONALD J 5454 WATEKA DR DALLAS TX 75209 $455,851.51
600104635 KUMAR ROOP D. 155 JOHN REZZA DRIVE NORTH ATTLE MA 02760 $226,541.47
600104636 DECREMER JAMES H. 5794 WINDSONA CIRCLE MADISON WI 53711 $351,728.10
600104637 BAILEY-JONES BONNIE B. 1812 ROSSMONT DRIVE REDLANDS CA 92373 $236,903.29
600104638 UNGER ISADORE R. 4854 ALBERSON COURT SAN DIEGO CA 92130 $393,705.32
600104639 MACKENZIE JAMES D. 3 OLDE STONEBRIDGE PATH WESTBOROUGH MA 01581 $290,688.66
600104640 GRUBER MICHAEL P. 135 TORREY PINES COURT NEWNAN GA 30265 $304,337.82
600104641 BROCK ROBERT J. 920 DEER HAVEN CIRCLE PALM DESERT CA 92211 $346,667.95
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104628 DRAWBRIDGE ROBERT E 7.125 .200 6.925 .0400 6.885 08/01/2012
600104629 HALLER TERRY L. 7.500 .200 7.300 .0400 7.260 08/01/2012
600104630 VEERMAN BRETT 7.375 .200 7.175 .0400 7.135 08/01/2012
600104631 PHILPOT JOHN M. 7.500 .200 7.300 .0400 7.260 08/01/2012
600104632 BRATSCHUN THOMAS D. 7.250 .200 7.050 .0400 7.010 08/01/2012
600104633 TRIBUS CLIFFORD B 7.375 .200 7.175 .0400 7.135 09/01/2012
600104634 HOGG RONALD J 7.625 .200 7.425 .0400 7.385 08/01/2012
600104635 KUMAR ROOP D. 6.875 .200 6.675 .0400 6.635 09/01/2012
600104636 DECREMER JAMES H. 7.375 .200 7.175 .0400 7.135 08/01/2012
600104637 BAILEY-JONES BONNIE B. 7.000 .200 6.800 .0400 6.760 09/01/2012
600104638 UNGER ISADORE R. 7.375 .200 7.175 .0400 7.135 09/01/2012
600104639 MACKENZIE JAMES D. 7.250 .200 7.050 .0400 7.010 09/01/2012
600104640 GRUBER MICHAEL P. 7.250 .200 7.050 .0400 7.010 08/01/2012
600104641 BROCK ROBERT J. 7.000 .200 6.800 .0400 6.760 08/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104628 DRAWBRIDGE ROBERT E 6134365 $4,529.16 11/01/1997 180
600104629 HALLER TERRY L. 6135917 $2,669.80 11/01/1997 180
600104630 VEERMAN BRETT 6137004 $2,912.42 11/01/1997 180
600104631 PHILPOT JOHN M. 6137632 $2,420.43 11/01/1997 180
600104632 BRATSCHUN THOMAS D. 6139463 $2,738.59 11/01/1997 180
600104633 TRIBUS CLIFFORD B 6150643 $3,679.70 11/01/1997 180
600104634 HOGG RONALD J 6151880 $4,297.00 11/01/1997 180
600104635 KUMAR ROOP D. 6152383 $2,033.43 11/01/1997 180
600104636 DECREMER JAMES H. 6152672 $3,265.73 11/01/1997 180
600104637 BAILEY-JONES BONNIE B. 6160741 $2,149.28 11/01/1997 180
600104638 UNGER ISADORE R. 6162309 $3,647.50 11/01/1997 180
600104639 MACKENZIE JAMES D. 6163786 $2,670.13 2 11/01/1997 180
600104640 GRUBER MICHAEL P. 6166847 $2,804.32 11/01/1997 180
600104641 BROCK ROBERT J. 6170435 $3,145.90 11/01/1997 180
<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>
600104628 DRAWBRIDGE ROBERT E $925,000.00 N
600104629 HALLER TERRY L. $360,000.00 N
600104630 VEERMAN BRETT $410,000.00 N
600104631 PHILPOT JOHN M. $385,000.00 N
600104632 BRATSCHUN THOMAS D. $430,000.00 N
600104633 TRIBUS CLIFFORD B $980,000.00 N
600104634 HOGG RONALD J $775,000.00 N
600104635 KUMAR ROOP D. $285,000.00 N
600104636 DECREMER JAMES H. $474,500.00 N
600104637 BAILEY-JONES BONNIE B. $298,900.00 N
600104638 UNGER ISADORE R. $540,000.00 N
600104639 MACKENZIE JAMES D. $325,000.00 N
600104640 GRUBER MICHAEL P. $384,000.00 N
600104641 BROCK ROBERT J. $455,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104642 DIJAMCO ARMANDO 760 WOOD DUCK COURT ATLANTA GA 30327 $864,842.70
600104643 COGLIANI LOUIS C. 85 NORTH GATE ATHERTON CA 94027 $351,799.95
600104644 SKIDMORE KAREN L. 1143 GUINDA STREET PALO ALTO CA 94301 $320,807.95
600104645 DHARMAPALAN JONATHAN D 744 LONGRIDGE ROAD OAKLAND CA 94610 $392,010.33
600104646 AUDAY JOSE H. 707 HAGYS FORD ROAD LOWER MERIO PA 19072 $347,869.67
600104647 NORWOOD GORDON 1755 TWIRLY COURT PRINCE FRED MD 20678 $258,300.60
600104648 SHABAN SAAD E. 600 N SAN ANTONIO RD. LOS ALTOS CA 94022 $253,889.76
600104649 BILENKER ARTHUR J. 9 SPRING GARDEN STREET CRANFORD NJ 07016 $260,943.91
600104650 PEARLSTEIN JEFF 61 WINSLOW ROAD WHITE PLAIN NY 10601 $331,912.41
600104651 TRAMPENAU RICHARD 493 INDIAN ROAD WAYNE NJ 07470 $365,770.23
600104652 GONZALES JOHN R. 106 SOUTH SHORE DRIVE CLAYTON NY 13624 $254,379.93
600104653 STEEL PATRICK M 1920 47TH STREET NW WASHINGTON DC 20007 $246,705.06
600104654 ROSS PATRICK L 9 DESCANSO ORINDA CA 94563 $316,616.90
600104655 BIEBER ROBAN A 3604 PINE STREET SANTA YNEZ CA 93460 $225,362.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104642 DIJAMCO ARMANDO 7.750 .200 7.550 .0400 7.510 09/01/2012
600104643 COGLIANI LOUIS C. 7.500 .200 7.300 .0400 7.260 09/01/2012
600104644 SKIDMORE KAREN L. 7.875 .200 7.675 .0400 7.635 09/01/2012
600104645 DHARMAPALAN JONATHAN D 7.625 .200 7.425 .0400 7.385 09/01/2012
600104646 AUDAY JOSE H. 8.000 .200 7.800 .0400 7.760 09/01/2012
600104647 NORWOOD GORDON 6.625 .200 6.425 .0400 6.385 09/01/2012
600104648 SHABAN SAAD E. 7.750 .200 7.550 .0400 7.510 09/01/2012
600104649 BILENKER ARTHUR J. 7.750 .200 7.550 .0400 7.510 09/01/2012
600104650 PEARLSTEIN JEFF 7.375 .200 7.175 .0400 7.135 08/01/2012
600104651 TRAMPENAU RICHARD 7.500 .200 7.300 .0400 7.260 09/01/2012
600104652 GONZALES JOHN R. 7.000 .200 6.800 .0400 6.760 09/01/2012
600104653 STEEL PATRICK M 7.375 .200 7.175 .0400 7.135 08/01/2012
600104654 ROSS PATRICK L 7.750 .200 7.550 .0400 7.510 09/01/2012
600104655 BIEBER ROBAN A 7.750 .200 7.550 .0400 7.510 08/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104642 DIJAMCO ARMANDO 6173892 $8,189.10 11/01/1997 180
600104643 COGLIANI LOUIS C. 6176465 $3,337.25 11/01/1997 180
600104644 SKIDMORE KAREN L. 6177703 $3,060.65 11/01/1997 180
600104645 DHARMAPALAN JONATHAN D 6187066 $3,689.82 11/01/1997 180
600104646 AUDAY JOSE H. 6189849 $3,344.79 11/01/1997 180
600104647 NORWOOD GORDON 6190029 $2,282.78 11/01/1997 180
600104648 SHABAN SAAD E. 6190789 $2,404.96 11/01/1997 180
600104649 BILENKER ARTHUR J. 6194724 $2,470.85 11/01/1997 180
600104650 PEARLSTEIN JEFF 6208342 $3,081.75 11/01/1997 180
600104651 TRAMPENAU RICHARD 6209712 $3,411.41 11/01/1997 180
600104652 GONZALES JOHN R. 6211643 $2,301.01 11/01/1997 180
600104653 STEEL PATRICK M 6211874 $2,290.61 11/01/1997 180
600104654 ROSS PATRICK L 6212500 $2,998.02 11/01/1997 180
600104655 BIEBER ROBAN A 6214357 $2,146.11 19 11/01/1997 180
<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>
600104642 DIJAMCO ARMANDO $1,450,000.00 N
600104643 COGLIANI LOUIS C. $550,000.00 N
600104644 SKIDMORE KAREN L. $990,000.00 N
600104645 DHARMAPALAN JONATHAN D $600,000.00 N
600104646 AUDAY JOSE H. $685,000.00 N
600104647 NORWOOD GORDON $355,000.00 N
600104648 SHABAN SAAD E. $365,000.00 N
600104649 BILENKER ARTHUR J. $330,000.00 N
600104650 PEARLSTEIN JEFF $525,000.00 N
600104651 TRAMPENAU RICHARD $460,000.00 N
600104652 GONZALES JOHN R. $320,000.00 N
600104653 STEEL PATRICK M $349,000.00 N
600104654 ROSS PATRICK L $520,000.00 N
600104655 BIEBER ROBAN A $240,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104656 ROTWEIN PETER S. 4925 SOUTHWEST CASCARA LA LAKE OSWEGO OR 97035 $313,049.34
600104657 BART LORI A 7973 E VIA BONITA SCOTTSDALE AZ 85258 $230,500.18
600104658 MOE DANIEL M. 5840 EAST IRONWOOD CIRCLE CAVE CREEK AZ 85331 $259,552.46
600104659 WYNNE III. FRANK O. 4801 CREEKSIDE CIRCLE CRESTWOOD KY 40014 $238,608.24
600104660 CONDRY DAVID K. 978 TALCEY TERRACE RIVERSIDE CA 92506 $641,539.35
600104661 MESSENGER JOHN K. 1506 CHELTENHAM COURT EAS CROWNSVILLE MD 21032 $337,871.54
600104662 WAHEED ABDUL 5260 CREBS AVENUE TARZANA CA 91356 $332,678.32
600104663 FLUCKIGER KELLAN L. 3581 JOSHUA ROAD SHINGLE SPR CA 95682 $384,423.93
600104664 FREAD JEFFREY L. 538 EXETER COURT AMBLER PA 19002 $396,109.28
600104665 HEYMAN JOHN 222 BORDEN ROAD TOWNSHIP OF NJ 07748 $312,310.50
600104666 LINTON SCOTT 1094 E CIRCLE DRIVE WHITEFISH B WI 53217 $276,368.44
600104667 HILLER RON 16121 SOUTHWEST PARELIUS LAKE OSWEGO OR 97035 $423,977.90
600104668 WEGNER N. CAMERO 22510 CLARK STREET WEST LINN OR 97068 $222,992.85
600104669 COLICK LEWIS A 526 SOUTH ARDEN BOUL LOS ANGELES CA 90020 $502,368.26
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104656 ROTWEIN PETER S. 7.250 .200 7.050 .0400 7.010 09/01/2012
600104657 BART LORI A 7.000 .200 6.800 .0400 6.760 09/01/2012
600104658 MOE DANIEL M. 7.500 .200 7.300 .0400 7.260 09/01/2012
600104659 WYNNE III. FRANK O. 8.000 .200 7.800 .0400 7.760 09/01/2012
600104660 CONDRY DAVID K. 7.750 .200 7.550 .0400 7.510 08/01/2012
600104661 MESSENGER JOHN K. 7.125 .200 6.925 .0400 6.885 09/01/2012
600104662 WAHEED ABDUL 7.625 .200 7.425 .0400 7.385 09/01/2012
600104663 FLUCKIGER KELLAN L. 7.375 .200 7.175 .0400 7.135 08/01/2012
600104664 FREAD JEFFREY L. 6.750 .200 6.550 .0400 6.510 08/01/2012
600104665 HEYMAN JOHN 8.000 .200 7.800 .0400 7.760 07/01/2012
600104666 LINTON SCOTT 8.125 .200 7.925 .0400 7.885 06/01/2012
600104667 HILLER RON 7.750 .200 7.550 .0400 7.510 08/01/2012
600104668 WEGNER N. CAMERO 7.750 .200 7.550 .0400 7.510 08/01/2012
600104669 COLICK LEWIS A 7.750 .200 7.550 .0400 7.510 06/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104656 ROTWEIN PETER S. 6215123 $2,875.52 11/01/1997 180
600104657 BART LORI A 6216105 $2,085.29 11/01/1997 180
600104658 MOE DANIEL M. 6217087 $2,425.07 11/01/1997 180
600104659 WYNNE III. FRANK O. 6866743 $2,293.57 11/01/1997 180
600104660 CONDRY DAVID K. 8448953 $6,118.29 11/01/1997 180
600104661 MESSENGER JOHN K. 9243858 $3,079.83 11/01/1997 180
600104662 WAHEED ABDUL 9291352 $3,129.34 11/01/1997 180
600104663 FLUCKIGER KELLAN L. 9409715 $3,569.31 11/01/1997 180
600104664 FREAD JEFFREY L. 9519877 $3,539.64 11/01/1997 180
600104665 HEYMAN JOHN 9611252 $3,019.87 11/01/1997 180
600104666 LINTON SCOTT 9687807 $2,719.18 11/01/1997 180
600104667 HILLER RON 9704412 $4,028.67 11/01/1997 180
600104668 WEGNER N. CAMERO 9742818 $2,117.87 11/01/1997 180
600104669 COLICK LEWIS A 9753468 $4,800.51 11/01/1997 180
<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>
600104656 ROTWEIN PETER S. $395,000.00 N
600104657 BART LORI A $290,000.00 N
600104658 MOE DANIEL M. $327,000.00 N
600104659 WYNNE III. FRANK O. $300,000.00 N
600104660 CONDRY DAVID K. $856,979.00 N
600104661 MESSENGER JOHN K. $433,514.00 N
600104662 WAHEED ABDUL $535,000.00 N
600104663 FLUCKIGER KELLAN L. $485,000.00 N
600104664 FREAD JEFFREY L. $515,383.00 N
600104665 HEYMAN JOHN $395,000.00 N
600104666 LINTON SCOTT $353,000.00 N
600104667 HILLER RON $535,000.00 N
600104668 WEGNER N. CAMERO $305,000.00 N
600104669 COLICK LEWIS A $1,020,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104670 CULVER ERNEST W. 1728 ORTEGA STREET SAN FRANCIS CA 94122 $227,810.35
600104671 ORLOFF HOWARD A. 1171 LONGMEADOW LANE GLENCOE IL 60022 $370,669.27
600104672 KINNING MARK A. 15756 93RD AVENUE CHIPPEWA FA WI 54729 $246,915.90
600104673 RUSSELL DOUGLAS C. 630 ONDOSSAGON WAY MADISON WI 53719 $219,577.24
600104674 PFISTER JOSEPH M 6 CRESTFIELD ROAD WILMINGTON DE 19810 $245,363.52
600104675 MARGIOTTI GERARD A 44 TALL OAKS DRIVE LANGHORNE PA 19053 $616,782.81
600104676 BURKE JAMES J. 5 HALLEN AVENUE MILTON MA 02186 $262,531.00
600104677 ROSENAUER EAAN S. 11034 EAST VERBENA LN SCOTTSDALE AZ 85259 $348,293.72
600104678 COLEMAN MICHAEL M. 1814 OLD GULPH ROAD VILLANOVA PA 19085 $695,171.71
600104679 DOYLE JEREMIAH T 62 FAIRMONT STREET BELMONT MA 02178 $596,244.85
600104680 TOY THOMAS J. 331 PARROTT DRIVE SAN MATEO CA 94402 $482,176.84
600104681 FRANCAVILLA GINO 403 ACORN CT MARS PA 16046 $262,276.08
600104682 ORECCHIA PAUL M. 4220 NORTH JUNIPER DRIVE JANESVILLE WI 53545 $268,795.36
600104683 BROCK III RANDOLPH D 2453 LANTERN LANE NAPLES FL 34102 $603,983.13
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104670 CULVER ERNEST W. 7.000 .200 6.800 .0400 6.760 08/01/2012
600104671 ORLOFF HOWARD A. 8.125 .200 7.925 .0400 7.885 07/01/2012
600104672 KINNING MARK A. 7.500 .200 7.300 .0400 7.260 07/01/2012
600104673 RUSSELL DOUGLAS C. 7.875 .200 7.675 .0400 7.635 07/01/2012
600104674 PFISTER JOSEPH M 8.125 .200 7.925 .0400 7.885 08/01/2012
600104675 MARGIOTTI GERARD A 7.875 .200 7.675 .0400 7.635 07/01/2012
600104676 BURKE JAMES J. 7.250 .200 7.050 .0400 7.010 08/01/2012
600104677 ROSENAUER EAAN S. 7.750 .200 7.550 .0400 7.510 07/01/2012
600104678 COLEMAN MICHAEL M. 7.875 .200 7.675 .0400 7.635 09/01/2012
600104679 DOYLE JEREMIAH T 7.500 .200 7.300 .0400 7.260 09/01/2012
600104680 TOY THOMAS J. 7.750 .200 7.550 .0400 7.510 07/01/2012
600104681 FRANCAVILLA GINO 7.000 .200 6.800 .0400 6.760 08/01/2012
600104682 ORECCHIA PAUL M. 7.875 .200 7.675 .0400 7.635 08/01/2012
600104683 BROCK III RANDOLPH D 6.500 .200 6.300 .0400 6.260 09/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104670 CULVER ERNEST W. 9761214 $2,067.31 11/01/1997 180
600104671 ORLOFF HOWARD A. 9798836 $3,610.81 11/01/1997 180
600104672 KINNING MARK A. 9810185 $2,317.54 11/01/1997 180
600104673 RUSSELL DOUGLAS C. 9810342 $2,107.46 11/01/1997 180
600104674 PFISTER JOSEPH M 9811886 $2,383.14 19 11/01/1997 180
600104675 MARGIOTTI GERARD A 9812108 $5,919.75 11/01/1997 180
600104676 BURKE JAMES J. 9830571 $2,419.09 19 11/01/1997 180
600104677 ROSENAUER EAAN S. 9833021 $3,318.00 11/01/1997 180
600104678 COLEMAN MICHAEL M. 9833310 $6,639.15 11/01/1997 180
600104679 DOYLE JEREMIAH T 9833880 $5,562.08 11/01/1997 180
600104680 TOY THOMAS J. 9840968 $4,593.43 11/01/1997 180
600104681 FRANCAVILLA GINO 9848433 $2,381.90 11/01/1997 180
600104682 ORECCHIA PAUL M. 9850264 $2,572.20 11/01/1997 180
600104683 BROCK III RANDOLPH D 9861485 $5,296.34 11/01/1997 180
<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>
600104670 CULVER ERNEST W. $305,000.00 N
600104671 ORLOFF HOWARD A. $500,000.00 N
600104672 KINNING MARK A. $465,000.00 N
600104673 RUSSELL DOUGLAS C. $277,750.00 N
600104674 PFISTER JOSEPH M $275,000.00 N
600104675 MARGIOTTI GERARD A $785,154.00 N
600104676 BURKE JAMES J. $295,000.00 N
600104677 ROSENAUER EAAN S. $470,000.00 N
600104678 COLEMAN MICHAEL M. $885,000.00 N
600104679 DOYLE JEREMIAH T $835,000.00 N
600104680 TOY THOMAS J. $735,000.00 N
600104681 FRANCAVILLA GINO $410,000.00 N
600104682 ORECCHIA PAUL M. $339,000.00 N
600104683 BROCK III RANDOLPH D $760,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104684 BARTH BERLE I. 861 JEWELL AVENUE PACIFIC GRO CA 93950 $249,450.69
600104685 ERMENTROUT GERALD 6883 OCEAN DRIVE AVALON NJ 08202 $220,041.15
600104687 HALL GORDON 6732 CHURCH STREET HIGHLAND CA 92346 $284,363.16
600104688 MOCK TIMOTHY 5 SWEETWATER LANE PITTSBURGH PA 15238 $445,700.37
600104689 BYRD JAMES E 78950 RANCHO LA QUINTA DR LA QUINTA CA 92253 $260,681.93
600104690 DANCEY TERRENCE W 270 SOUTH MOHLER DRIVE ANAHEIM CA 92808 $457,177.37
600104691 CONLON CHRISTOPHE 13700 VIC ROAD NORTHEA ALBUQUERQUE NM 87123 $252,572.34
600104692 KERNAN, JR. JOHN B. 31 HOYT STREET SOUTH SALEM NY 10590 $258,354.63
600104693 DOSKOS CHRISTOPHE 16 SILVERBROOK LANE NORTH GRANB CT 06060 $217,950.27
600104694 KINNINGER ANTHONY 109 VIA VENEZIA NEWPORT BEA CA 92663 $495,158.85
600104695 SAWH DEONARAINE 409 MANOR RIDGE ROAD PELHAM MANO NY 10803 $310,067.90
600104696 BLOCH DENNIS B. 221 PARROTT DRIVE SAN MATEO CA 94402 $495,290.93
600104697 LUOMA ROBERT M. 42 PALMER WAY CARLISLE MA 01741 $243,986.02
600104698 BILLINGSLEY GLENN K. 8 WEDGEWOOD DRIVE CHELMSFORD MA 01824 $218,896.05
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104684 BARTH BERLE I. 7.750 .200 7.550 .0400 7.510 08/01/2012
600104685 ERMENTROUT GERALD 7.875 .200 7.675 .0400 7.635 08/01/2012
600104687 HALL GORDON 6.875 .200 6.675 .0400 6.635 08/01/2012
600104688 MOCK TIMOTHY 7.125 .200 6.925 .0400 6.885 08/01/2012
600104689 BYRD JAMES E 7.500 .200 7.300 .0400 7.260 07/01/2012
600104690 DANCEY TERRENCE W 7.875 .200 7.675 .0400 7.635 07/01/2012
600104691 CONLON CHRISTOPHE 7.000 .200 6.800 .0400 6.760 08/01/2012
600104692 KERNAN, JR. JOHN B. 7.000 .200 6.800 .0400 6.760 09/01/2012
600104693 DOSKOS CHRISTOPHE 7.250 .200 7.050 .0400 7.010 08/01/2012
600104694 KINNINGER ANTHONY 7.375 .200 7.175 .0400 7.135 08/01/2012
600104695 SAWH DEONARAINE 7.250 .200 7.050 .0400 7.010 09/01/2012
600104696 BLOCH DENNIS B. 7.125 .200 6.925 .0400 6.885 08/01/2012
600104697 LUOMA ROBERT M. 7.250 .200 7.050 .0400 7.010 08/01/2012
600104698 BILLINGSLEY GLENN K. 7.000 .200 6.800 .0400 6.760 08/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104684 BARTH BERLE I. 9863648 $2,372.02 11/01/1997 180
600104685 ERMENTROUT GERALD 9866120 $2,105.56 11/01/1997 180
600104687 HALL GORDON 9885591 $2,568.55 11/01/1997 180
600104688 MOCK TIMOTHY 9909730 $4,076.25 11/01/1997 180
600104689 BYRD JAMES E 9912544 $2,446.39 11/01/1997 180
600104690 DANCEY TERRENCE W 9920612 $4,438.75 11/01/1997 180
600104691 CONLON CHRISTOPHE 9921917 $2,292.02 19 11/01/1997 180
600104692 KERNAN, JR. JOHN B. 9934654 $2,336.96 11/01/1997 180
600104693 DOSKOS CHRISTOPHE 9938911 $2,008.30 11/01/1997 180
600104694 KINNINGER ANTHONY 9944737 $4,599.62 11/01/1997 180
600104695 SAWH DEONARAINE 9945080 $2,848.14 11/01/1997 180
600104696 BLOCH DENNIS B. 9948654 $4,529.16 11/01/1997 180
600104697 LUOMA ROBERT M. 9950106 $2,282.16 11/01/1997 180
600104698 BILLINGSLEY GLENN K. 9951260 $1,986.41 19 11/01/1997 180
<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>
600104684 BARTH BERLE I. $534,000.00 N
600104685 ERMENTROUT GERALD $277,500.00 N
600104687 HALL GORDON $360,000.00 N
600104688 MOCK TIMOTHY $610,000.00 N
600104689 BYRD JAMES E $381,536.00 N
600104690 DANCEY TERRENCE W $636,000.00 N
600104691 CONLON CHRISTOPHE $285,000.00 N
600104692 KERNAN, JR. JOHN B. $357,000.00 N
600104693 DOSKOS CHRISTOPHE $275,000.00 N
600104694 KINNINGER ANTHONY $1,150,000.00 N
600104695 SAWH DEONARAINE $390,000.00 N
600104696 BLOCH DENNIS B. $710,000.00 N
600104697 LUOMA ROBERT M. $480,000.00 N
600104698 BILLINGSLEY GLENN K. $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104699 BRYDON HARRY 11 SIGNAL HILL DRIVE VOORHEES NJ 08043 $580,674.61
600104700 TAWIL JOSEPH N. 16742 CALLE DE CATALIN PACIFIC PAL CA 90272 $593,617.27
600104701 HORNEY JOHN T. 567 PEACHTREE BATTLE AVE ATLANTA GA 30305 $618,186.20
600104702 WILLIAMS BENJAMIN A 3801 SERENE HILLS DR. AUSTIN TX 78738 $279,004.62
600104703 CAVENAUGH MELANIE O. 2411 OAKBANK DRIVE KINGWOOD TX 77339 $345,732.04
600104704 WRONSKI FRANK M. 2704 HIGHLAND COURT ST. JOSEPH MI 49085 $437,215.54
600104705 BUCKLEY ARTHUR D 225 MARCO BAY RD SOMERS MT 59932 $297,294.47
600104713 VOGT,THOMAS D 5303 WILLOW WOOD LANE DALLAS TX 75252 $428,620.36
610000119 WHITTEN, RANDLET 8918 THRAS LOS ANGELES CA 90069 $469,000.00
610000120 SHAFFER, JAMES 24097 CRUI CANYON LAKE CA 92587 $85,042.08
610000121 GARDNER, JAMES 6431 RODGE LOS ANGELES CA 90068 $221,329.53
610000122 MECKLENBURG, JOHN 190 MCGUIRE STR MANTENO IL 60950 $144,000.00
610000123 RATLIFF, JAMES 366 LOVE L DANVILLE CA 94526 $305,450.00
610000124 LOPEZ, VICTOR 3944 DONNA AVEN SAN DIEGO CA 92115 $129,603.06
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104699 BRYDON HARRY 7.875 .200 7.675 .0400 7.635 07/01/2012
600104700 TAWIL JOSEPH N. 7.250 .200 7.050 .0400 7.010 08/01/2012
600104701 HORNEY JOHN T. 7.250 .200 7.050 .0400 7.010 08/01/2012
600104702 WILLIAMS BENJAMIN A 7.375 .200 7.175 .0400 7.135 08/01/2012
600104703 CAVENAUGH MELANIE O. 7.500 .200 7.300 .0400 7.260 07/01/2012
600104704 WRONSKI FRANK M. 7.000 .200 6.800 .0400 6.760 09/01/2012
600104705 BUCKLEY ARTHUR D 7.625 .200 7.425 .0400 7.385 08/01/2012
600104713 VOGT,THOMAS D 7.375 .200 7.175 .0400 7.135 12/01/2011
610000119 WHITTEN, RANDLET 7.500 .250 7.250 .0500 7.200 11/01/2012
610000120 SHAFFER, JAMES 7.500 .250 7.250 .0500 7.200 10/01/2012
610000121 GARDNER, JAMES 7.500 .250 7.250 .0500 7.200 10/01/2012
610000122 MECKLENBURG, JOHN 8.500 .250 8.250 .0500 8.200 11/01/2012
610000123 RATLIFF, JAMES 7.125 .250 6.875 .0500 6.825 11/01/2012
610000124 LOPEZ, VICTOR 7.375 .250 7.125 .0500 7.075 10/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600104699 BRYDON HARRY 9951880 $5,576.89 11/01/1997 180
600104700 TAWIL JOSEPH N. 9954975 $5,469.88 11/01/1997 180
600104701 HORNEY JOHN T. 9957424 $5,696.27 11/01/1997 180
600104702 WILLIAMS BENJAMIN A 9960204 $2,590.50 11/01/1997 180
600104703 CAVENAUGH MELANIE O. 9962838 $3,244.54 11/01/1997 180
600104704 WRONSKI FRANK M. 9981465 $3,954.85 11/01/1997 180
600104705 BUCKLEY ARTHUR D 6135842 $2,802.39 11/01/1997 180
600104713 VOGT,THOMAS D 9275504 $4,084.46 11/01/1997 180
610000119 WHITTEN, RANDLET 1062074 $4,347.69 11/01/1997 180
610000120 SHAFFER, JAMES 1062538 $791.67 11/01/1997 180
610000121 GARDNER, JAMES 1062637 $2,057.97 11/01/1997 180
610000122 MECKLENBURG, JOHN 1104017 $1,418.02 11/01/1997 180
610000123 RATLIFF, JAMES 1140599 $2,766.86 11/01/1997 180
610000124 LOPEZ, VICTOR 1190933 $1,195.90 11/01/1997 180
<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>
600104699 BRYDON HARRY $735,000.00 N
600104700 TAWIL JOSEPH N. $749,000.00 N
600104701 HORNEY JOHN T. $780,000.00 N
600104702 WILLIAMS BENJAMIN A $352,000.00 N
600104703 CAVENAUGH MELANIE O. $545,000.00 N
600104704 WRONSKI FRANK M. $550,000.00 N
600104705 BUCKLEY ARTHUR D $400,000.00 N
600104713 VOGT,THOMAS D $555,000.00 N
610000119 WHITTEN, RANDLET $1,171,000.00 N
610000120 SHAFFER, JAMES $180,000.00 N
610000121 GARDNER, JAMES $350,000.00 N
610000122 MECKLENBURG, JOHN $180,000.00 N
610000123 RATLIFF, JAMES $627,000.00 N
610000124 LOPEZ, VICTOR $165,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
610000125 PERCY, GEORGE 410 NORTH RIOS SOLANA BEACH CA 92075 $159,522.06
610000126 GOLDMAN, CARL 26545 MACMILLAN CANYON COUNTRY CA 91351 $542,178.64
610000127 CHENG LEE, SAMMY 11490 CHARSAN L CUPERTINO CA 95014 $372,870.47
610000128 LEE, SHANNON 7820 CREEKLINE CUPERTINO CA 95014 $258,226.33
610000129 CAPELA, JILL 16541 CYPRESS W LOS GATOS CA 95032 $835,000.00
610000130 WEISMAN, GLEN 272 THATCHER LA FOSTER CITY CA 94404 $220,610.62
610000131 MAO, CATHERINE 136 AND 136 1/2 HERMOSA BEACH CA 90254 $444,946.06
610000132 LIPMAN, BRADFORD 1105 REGENCY RO ATLANTA GA 30327 $448,630.05
610000133 MITCHELL, KENNETH 72-74 GARRISON LAKEWOOD CO 80226 $116,650.51
610000134 GAO, WEI 3500 EDGEFIELD CARMEL CA 93923 $294,935.68
610000135 CHABAN, HELENE 27411 VIANA MISSION VIEJO CA 92692 $198,000.00
610000136 HURLOW, PHILIP 4015 EAGLE NEST DANVILLE CA 94506 $378,000.00
610000137 CHUNG, ANDY 1297 INVERNESS FREMONT CA 94539 $376,459.60
610000138 DE GIOSA, BENITO 6078 CANTERBURY AGOURA HILLS CA 91301 $585,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
610000125 PERCY, GEORGE 7.625 .250 7.375 .0500 7.325 10/01/2012
610000126 GOLDMAN, CARL 8.000 .250 7.750 .0500 7.700 10/01/2012
610000127 CHENG LEE, SAMMY 7.500 .250 7.250 .0500 7.200 10/01/2012
610000128 LEE, SHANNON 7.625 .250 7.375 .0500 7.325 10/01/2012
610000129 CAPELA, JILL 7.625 .250 7.375 .0500 7.325 11/01/2012
610000130 WEISMAN, GLEN 8.000 .250 7.750 .0500 7.700 10/01/2012
610000131 MAO, CATHERINE 7.875 .250 7.625 .0500 7.575 10/01/2012
610000132 LIPMAN, BRADFORD 7.625 .250 7.375 .0500 7.325 10/01/2012
610000133 MITCHELL, KENNETH 7.625 .250 7.375 .0500 7.325 10/01/2012
610000134 GAO, WEI 7.875 .250 7.625 .0500 7.575 10/01/2012
610000135 CHABAN, HELENE 7.375 .250 7.125 .0500 7.075 11/01/2012
610000136 HURLOW, PHILIP 7.500 .250 7.250 .0500 7.200 11/01/2012
610000137 CHUNG, ANDY 7.500 .250 7.250 .0500 7.200 10/01/2012
610000138 DE GIOSA, BENITO 7.250 .250 7.000 .0500 6.950 11/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
610000125 PERCY, GEORGE 1191931 $1,494.61 11/01/1997 180
610000126 GOLDMAN, CARL 1199157 $5,196.36 11/01/1997 180
610000127 CHENG LEE, SAMMY 1201649 $3,467.03 11/01/1997 180
610000128 LEE, SHANNON 1202100 $2,419.40 11/01/1997 180
610000129 CAPELA, JILL 1202340 $7,799.98 11/01/1997 180
610000130 WEISMAN, GLEN 1202977 $2,114.38 11/01/1997 180
610000131 MAO, CATHERINE 1203702 $4,232.46 11/01/1997 180
610000132 LIPMAN, BRADFORD 1206358 $4,203.58 11/01/1997 180
610000133 MITCHELL, KENNETH 1233303 $1,092.93 11/01/1997 180
610000134 GAO, WEI 1234707 $2,805.51 11/01/1997 180
610000135 CHABAN, HELENE 1235415 $1,821.45 11/01/1997 180
610000136 HURLOW, PHILIP 1237544 $3,504.11 11/01/1997 180
610000137 CHUNG, ANDY 1238294 $3,500.40 11/01/1997 180
610000138 DE GIOSA, BENITO 1238401 $5,340.25 11/01/1997 180
<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>
610000125 PERCY, GEORGE $325,000.00 N
610000126 GOLDMAN, CARL $725,000.00 N
610000127 CHENG LEE, SAMMY $684,000.00 N
610000128 LEE, SHANNON $600,000.00 N
610000129 CAPELA, JILL $2,800,000.00 N
610000130 WEISMAN, GLEN $630,000.00 N
610000131 MAO, CATHERINE $595,000.00 N
610000132 LIPMAN, BRADFORD $838,750.00 N
610000133 MITCHELL, KENNETH $180,000.00 N
610000134 GAO, WEI $422,000.00 N
610000135 CHABAN, HELENE $330,000.00 N
610000136 HURLOW, PHILIP $550,000.00 N
610000137 CHUNG, ANDY $472,000.00 N
610000138 DE GIOSA, BENITO $780,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
610000139 PLOWMAN, GREGORY 4 HONEYSUCKLE L SAN CARLOS CA 94070 $283,000.00
610000140 WALKER, H. 600 11TH AVENUE NO. MYRTLE BEAC SC 29582 $99,694.66
610000141 BRAUGHTON, NICK 894 SOUTH 10TH SAN JOSE CA 95112 $49,953.61
610000142 FONG, JASON 1109-1111 TENNE SAN FRANCISCO CA 94107 $208,000.00
610000143 ULRICH, DALE 1444 EAST VICTO PHOENIX AZ 85022 $360,000.00
610000144 HU, CHING- TAI 45500 CLARET CO FREMONT CA 94539 $390,400.00
610000145 JANG, CHUNG-TAI 623 LOS PINOS P FREMONT CA 94539 $345,000.00
610000146 PHILLIPS, DERWOOD 11917 CARSON DR BALCH SPRINGS TX 75180 $37,500.00
610000147 DANG, HOANG 3048 SOMBRERO C SAN RAMON CA 94583 $192,500.00
610000148 NEUWIRTH, FRED 330 ROBERT E. L WILMINGTON NC 28412 $249,600.00
610000149 PAVLINAC, DENNIS 3572 LONE JACK ENCINITAS CA 92024 $521,250.00
610000150 BURNS, BRADFORD 1820 WESTOVER C FORT COLLINS CO 80524 $150,000.00
610000151 FONG, DAVID 210 DIAPIAN BAY ALAMEDA CA 94502 $266,500.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
610000139 PLOWMAN, GREGORY 7.500 .250 7.250 .0500 7.200 11/01/2012
610000140 WALKER, H. 7.375 .250 7.125 .0500 7.075 10/01/2012
610000141 BRAUGHTON, NICK 7.875 .250 7.625 .0500 7.575 10/01/2012
610000142 FONG, JASON 7.500 .250 7.250 .0500 7.200 11/01/2012
610000143 ULRICH, DALE 7.500 .250 7.250 .0500 7.200 11/01/2012
610000144 HU, CHING- TAI 7.375 .250 7.125 .0500 7.075 11/01/2012
610000145 JANG, CHUNG-TAI 7.625 .250 7.375 .0500 7.325 11/01/2012
610000146 PHILLIPS, DERWOOD 7.875 .250 7.625 .0500 7.575 11/01/2012
610000147 DANG, HOANG 7.500 .250 7.250 .0500 7.200 11/01/2012
610000148 NEUWIRTH, FRED 7.625 .250 7.375 .0500 7.325 11/01/2012
610000149 PAVLINAC, DENNIS 7.500 .250 7.250 .0500 7.200 11/01/2012
610000150 BURNS, BRADFORD 6.875 .250 6.625 .0500 6.575 11/01/2012
610000151 FONG, DAVID 7.875 .250 7.625 .0500 7.575 11/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
610000139 PLOWMAN, GREGORY 1238443 $2,623.44 11/01/1997 180
610000140 WALKER, H. 1241504 $919.92 11/01/1997 180
610000141 BRAUGHTON, NICK 1243005 $475.17 11/01/1997 180
610000142 FONG, JASON 1243591 $1,928.19 11/01/1997 180
610000143 ULRICH, DALE 1245455 $3,337.24 11/01/1997 180
610000144 HU, CHING- TAI 1245562 $3,591.38 11/01/1997 180
610000145 JANG, CHUNG-TAI 1245612 $3,222.75 11/01/1997 180
610000146 PHILLIPS, DERWOOD 1246164 $355.67 11/01/1997 180
610000147 DANG, HOANG 1248277 $1,784.50 11/01/1997 180
610000148 NEUWIRTH, FRED 1249051 $2,331.59 11/01/1997 180
610000149 PAVLINAC, DENNIS 1251594 $4,832.05 11/01/1997 180
610000150 BURNS, BRADFORD 1253608 $1,337.78 11/01/1997 180
610000151 FONG, DAVID 1254960 $2,527.62 11/01/1997 180
<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>
610000139 PLOWMAN, GREGORY $490,000.00 N
610000140 WALKER, H. $391,000.00 N
610000141 BRAUGHTON, NICK $90,000.00 N
610000142 FONG, JASON $354,000.00 N
610000143 ULRICH, DALE $550,000.00 N
610000144 HU, CHING- TAI $710,000.00 N
610000145 JANG, CHUNG-TAI $575,000.00 N
610000146 PHILLIPS, DERWOOD $50,000.00 N
610000147 DANG, HOANG $275,000.00 N
610000148 NEUWIRTH, FRED $312,000.00 N
610000149 PAVLINAC, DENNIS $695,000.00 N
610000150 BURNS, BRADFORD $240,000.00 N
610000151 FONG, DAVID $363,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 11/24/1997 PNC MORTGAGE SECURITIES CORP.
TIME: 21:58:27 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 11/24/1997
POOL NUMBER: 1404 POOL NAME: 1997-8 Group III
<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 ----- ------- ------- --------- --------- -----
** TOTAL 433 0 104,394,658.10 160,412,558.00 105,696,503.04 978,159.68
<S> <C> <C> <C> <C> <C> <C>
</TABLE>
<PAGE>
Exhibit E
SELLING AND SERVICING
CONTRACT
This Selling and Servicing Contract (the "Contract"), made and entered
into by PNC Mortgage Securities Corp. ("Buyer") and the Seller ("Seller")
identified below,
WITNESSETH:
WHEREAS, Seller has submitted a Seller Application to Buyer and has
otherwise been approved by Buyer; and
WHEREAS, Seller has received the Buyer's Selling Guide and the Buyer's
Servicing Guide (the "Guides");
NOW THEREFORE, in consideration of the premises and of the mutual
agreements herein contained, Buyer and Seller hereto agree as follows:
1. GUIDES. The Guides, which set forth the terms and conditions
under which Seller is to sell and service mortgages, are supplements to this
Contract and such Guides, as may be amended or supplemented from time to time,
are incorporated into this Contract in full by reference and made a part hereof
as fully as if set forth at length herein. All capitalized terms used herein
and not defined herein have the meanings ascribed to them in Appendix A,
Glossary of Terms, to the Guides.
2. SELLERS' DUTIES. Seller shall diligently perform all duties
incident to the selling and servicing of all mortgages which may be sold by
Seller from time to time and such other mortgages as Buyer and Seller may
mutually agree upon. In the performance of such duties, Seller shall employ
procedures and exercise the same care that it would maintain for loans held in
its own portfolio and in accordance with standards of practice, diligence,
prudence and competence maintained by the mortgage banking industry. Seller
shall also comply with all of the provisions of the Guides and with all other
reasonable requirements and instructions of Buyer. Seller shall perform such
services at its sole expense except as otherwise expressly provided in the
Guides. Seller agrees to service each of such mortgages continuously beginning
with the Purchase Date for such mortgages or the date of designation of Seller
as replacement Servicer for mortgages previously purchased by Buyer from another
Seller, until all interest and principal on each mortgage has been paid in full,
the mortgage has been liquidated as provided in the Guides, or such servicing
duties are terminated by Buyer.
3. COMPENSATION. Seller shall be compensated for its services
hereunder as specified in the Guides.
4. DOCUMENTS AND RECORDS. Seller agrees to create, maintain and
transmit all mortgage records and documents including all permanent mortgage
account records in accordance with the Guides. With respect to such records and
documents, Seller shall have custody privileges and Buyer shall have ownership
of the mortgage records and documents. Buyer may inspect such records and
documents at reasonable times during Seller's normal business hours. Seller
shall maintain accurate records and books of account, an adequate system of
audit and internal control, and shall conduct its origination and servicing
activities in a responsible and businesslike manner. Seller shall promptly
notify Buyer in writing of any activity or action, either internal or external,
which could potentially affect adversely the terms of any mortgage serviced
hereunder or the ability of Seller to service any mortgage.
5. WARRANTIES, OBLIGATIONS AND REPRESENTATIONS. The warranties,
obligations and representations stated in the Guides and hereby made or
undertaken by Seller with respect to each of the mortgages to be sold and
serviced by it on behalf of Buyer, unless expressly waived in writing by Buyer.
All warranties made by Seller shall survive (i) any investigation made by or on
behalf of Buyer, it assignee or designee, (ii) liquidation of the mortgage,
(iii) purchase of the mortgage by Buyer, its designee or assignee, (iv)
E-1
<PAGE>
repurchase of the mortgage by Seller, and (v) termination of this Contract,
or similar event, and all such warranties shall inure to the benefit of
Buyer, its successors and assigns and any transferee of any mortgage. Upon
specific written request from Buyer, Seller shall supply evidence that is
satisfactory to Buyer of its compliance with any provisions of the Guides.
6. REPURCHASE OBLIGATION. If, after purchase of any mortgage by
Buyer, any of the representations or warranties of the Seller contained herein
or in the Selling Guide are untrue, Buyer may, at its option, without regard to
the Sellers' actual or implied knowledge of the untruth of such warranty (except
to the extent the warranty is expressly conditioned upon the Seller's actual
knowledge), in addition to and without limitation as to any other remedy
accruing to Buyer, require the Seller to repurchase said mortgage pursuant to
the Guides. It is contemplated that a third party will purchase from Buyer the
mortgages purchased from Seller, and Seller agrees that Buyer may, in its own
name or in the name of the third party, exercise any rights or remedies at law
or in equity on behalf of itself or such third party.
7. CUSTODIANSHIP OF FUNDS. Seller shall fully account to Buyer for
the custodianship of funds received from, or on behalf of, a Borrower for
mortgages serviced hereunder. Seller shall establish and maintain custodial
accounts in accordance with the Guides for (i) the segregation of all principal
and interest received, and (ii) the administration of all amounts to be
deposited into escrow accounts, and such accounts shall be maintained free and
clear of any lien or encumbrance. Seller must be in control of the funds in its
custody at all times, and upon request from time to time of Buyer shall submit
complete and accurate analyses of cash balances on hand and of the receipt,
deposit and disposition of monies handled.
8. INDEMNIFICATION BY SELLER. Seller shall indemnify Buyer from and
hold Buyer harmless against all losses, damages, penalties, fines, forfeitures,
legal fees and related costs, judgments, and any other costs, fees, and expenses
heretofore or hereafter resulting from a material breach of any warranty,
obligation or representation contained in or made pursuant to this Contract or
from any claim, demand, defense or assertion against or involving Buyer or its
assignee or transferee of any mortgage based on or grounded upon, or resulting
from such breach or a breach of any representation, warranty or obligation made
by Buyer in reliance upon any warranty, obligation or representation made by
Seller contained in or made pursuant to this Contract. Seller hereby
acknowledges Buyer's intent to sell the mortgages to third parties in reliance
upon Seller's warranties, obligations and representation. The obligations of
Seller under this paragraph shall survive delivery and payment for the
mortgages, liquidation or repurchase of the mortgages and termination of this
Contract or the expiration hereof.
9. NO ASSIGNMENT. This Contract is of the nature of a personal
service agreement and accordingly may not be assigned by Seller. Except as
provided in paragraph 10 of this Contract, Seller may not assign or otherwise
transfer its responsibility for servicing individual mortgages to any other
entity, including affiliates. Any attempt to assign servicing rights without
the prior written consent of Buyer shall be null and void. Any such assignment
without the consent of Buyer shall be grounds for immediate termination of the
servicing rights with respect to the servicing purportedly assigned.
10. SUBCONTRACTING OF SERVICING. Seller may not, without Buyer's
prior written approval, subcontract with any other entity, including affiliates,
its responsibility for servicing any mortgage it has contracted to service for
Buyer.
11. TERMINATION BY BUYER. Buyer may terminate the right of Seller to
continue to service mortgage loans for Buyer and/or revoke the status of Seller
as an approved Seller for any of the reasons set forth in the Guides, including
a change in Seller's form of organization, a transfer of 25% or more of the
equity interest in Seller or change in its principal executive or financial
officers. No such termination shall release Seller from any of its obligations
hereunder or under the Guides or from any liability arising hereunder or
thereunder. Any forbearance or delay by Buyer in exercising such rights shall
not be deemed a waiver of and shall not preclude the exercise of any such
right. Upon termination by Buyer of this Contract for any reason other than a
failure of Seller to meet the eligibility requirements as set forth in the
Guides as determined by Buyer, Seller shall be compensated for such termination
in the amount specified in the Servicing Guide.
E-2
<PAGE>
12. ATTORNEY'S FEES. In the event of a dispute arising from or
concerning an obligation of the Seller or Buyer under this Contract which
results in litigation of the issue, the prevailing party to such litigation
shall be indemnified by the other party for all costs and expenses in bringing
or defending such action.
13. OFFSET. Buyer shall have the right to offset amounts due from
Seller against the purchase price to be paid for the acquisition of mortgages.
Amounts due which may be offset include but are not limited to past due pair-off
fees and funds for the repurchase of mortgages which are subject to an
outstanding repurchase demand.
14. NOTICE. Any notice required or permitted hereunder shall be in
writing and shall be sent to Seller at its address shown under its signature
below or to such other address Seller may designate in writing or to Buyer at 75
North Fairway Drive, Vernon Hills, Illinois 60061 or to such other address
designated by Buyer in writing, by certified mail, return receipt requested,
postage prepaid.
15. PRIOR AGREEMENTS. This Contract supersedes any prior agreements
and understandings between Buyer and Seller governing the subject matter hereof;
provided, however, that Seller shall not be released from any responsibility or
liability that may have arisen under such agreements and understandings.
16. GOVERNING LAW. This Contract is made in the State of Illinois
and shall be governed by the law of such state.
17. USE OF TERM "SELLER". Wherever the term "Seller" is used in this
contract in a context involving loan administration, servicing, and accounting
obligations, such term shall be deemed to mean "Servicer" as is used in the
Buyer's Servicing Guide.
18. EFFECTIVE DATE OF CONTRACT. This contract is not effective until
it is accepted by Buyer. An executed copy of the Contract will be returned to
the Seller.
19. STATUS OF PARTIES. Seller and Buyer each represent, warrant and
agree that as of the date of this Contract: (i) each party is duly organized,
validly existing and in good legal standing under the laws of its jurisdiction
of organization, and has the requisite power and authority to enter into this
contract and agreements to which both are parties as contemplated by this
Contract; (ii) this Contract has been duly authorized executed and delivered to
both parties and constitutes a valid and legally binding agreement of each
party, enforceable in accordance with its terms; (iii) there is no action,
proceeding or investigation pending or threatened, nor any basis therefore known
to either party that questions the validity or prospective validity of this
Contract insofar as the Contract relates to either party, or any essential
element upon which this Contract depends, or any action to be taken by either
party pursuant to this Contract; and (iv) insofar as either party's capacity to
carry out any obligation under this Contract is concerned, neither party will be
in violation of any provision of any charter, certificate of incorporation,
by-law, mortgage, indenture, indebtedness, agreement, instrument, judgment,
decree, order, statute, rule, or regulation, and there is no such provision that
adversely affects either party's capacity to carry out any such obligation.
Seller's and Buyer's execution of, and performance pursuant to, this Contract
will not result in any such violation. At all times Seller shall act as an
independent contractor.
E-3
<PAGE>
IN WITNESS WHEREOF, the parties have executed this Contract by proper
officials duly authorized on the dates hereinafter set forth. This Contract
shall take effect as of the date of its execution in original or facsimile
signature by a duly authorized officer of the Buyer.
- ------------------------------ ----------------------------------------
Name of Seller Seller I.D. number
- ------------------------------ ----------------------------------------
Type of Organization Organized under laws of
- ---------------------------------------------------------------------------
Principal place of business: street address, city, state, zip code
- ---------------------------------------------------------------------------
Typed name and title of Seller's authorized officer
- ------------------------------ ----------------------------------------
Signature of Seller's Date
authorized officer
Agreed to and accepted by PNC MORTGAGE SECURITIES CORP.
- ---------------------------------------------------------------------------
Typed name and title of authorized representative
- ------------------------------ ----------------------------------------
Signature of authorized Date
representative
E-4
<PAGE>
Exhibit F
FORM OF TRANSFEROR CERTIFICATE FOR
CLASS I-B-4, CLASS I-B-5, CLASS I-B-6, CLASS II-B-4, CLASS II-B-5, CLASS II-B-6,
CLASS III-B-4, CLASS III-B-5 AND CLASS III-B-6 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 1997-8, CLASS [I-B-4] [I-B-5] [I-B-6] [II-B-4]
[II-B-5] [II-B-6] [III-B-4] [III-B-5] [III-B-6] (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 I-B-4, CLASS I-B-5, CLASS I-B-6, CLASS II-B-4, CLASS II-B-5, CLASS II-B-6,
CLASS III-B-4, CLASS III-B-5 AND CLASS III-B-6 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-B-4]
[Class I-B-5] [Class I-B-6] [Class II-B-4] [Class II-B-5] [Class II-B-6] [Class
III-B-4] [Class III-B-5] [Class III-B-6] Certificates evidencing an undivided
interest in PNC Mortgage Securities Corp. Mortgage Pass-Through Certificates,
Series 1997-8 (the "Purchased Certificates") in the principal amount of
$______________. In doing so, the Purchaser hereby acknowledges and agrees as
follows:
Section 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 November 1, 1997 (the "Pooling Agreement"),
among PNC Mortgage Securities Corp. ("PNC"), IndyMac, Inc., and U.S. Bank
National Association, as trustee (the "Trustee"), of the PNC Mortgage Securities
Corp. Mortgage Pass-Through Certificates, Series 1997-8.
Section 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 Certificate
Administrator with affidavits substantially in the form of Exhibit A attached
hereto.
Section 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 (x)
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 (y) is an insurance
company, the source of funds to be used by it to purchase the Purchased
Certificates is an "insurance company general account" (within the meaning of
Department of Labor Prohibited Transaction Class Exemption ("PTCE") 95-60), and
the purchase is being made in reliance upon the availability of the exemptive
relief afforded under Sections I and III of PTCE 95-60, 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.
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-2
<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 1997-8
(THE "TRUST") [CLASS I-B-4] [CLASS I-B-5] [CLASS I-B-6]
[CLASS II-B-4] [CLASS II-B-5] [CLASS II-B-6] [CLASS III-B-4]
[CLASS III-B-5] [CLASS III-B-6] 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, (ii) has provided a "Benefit Plan Opinion" satisfactory to PNC
Mortgage Securities Corp. (the "Company") and the Trustee of the Trust or (iii)
is an insurance company, the source of funds to be used by it to purchase the
Purchased Certificates is an "insurance company general account" (within the
meaning of Department of Labor Prohibited Transaction Class Exemption ("PTCE")
95-60), and the purchase is being made in reliance upon the availability of the
exemptive relief afforded under Sections I and III of PTCE 95-60. 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 Certificate Administrator,
the Master Servicers 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 Certificate Administrator,
the Master Servicers 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:
G-3
<PAGE>
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__.
________________________________
Notary Public
G-4
<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,
Series 1997-8, Class 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 1997-8, Class R (the "Certificate"), pursuant to Section 5.01 of the
Pooling and Servicing Agreement (the "Pooling Agreement"), dated as of
November 1, 1997 among PNC Mortgage Securities Corp., as depositor,
certificate administrator and master servicer (the "Company"), IndyMac, Inc.,
as master servicer, and U.S. Bank National Association, as trustee (the
"Trustee"). 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.
I-1
<PAGE>
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.
Very truly yours,
[Seller]
By: ___________________________________
Name: _________________________________
Title: ________________________________
<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 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 R Certificates, and (ii) is
acquiring the Class 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 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 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 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.)
5. That the Owner is aware that the Trustee will not register the
Transfer of the Class 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 R Certificates and the provisions of Section 5.01 of the Pooling
Agreement under which the Class 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
J-1
<PAGE>
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 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 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 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.
16. The Owner as transferee of the Class R Certificates has represented
to their transferor that, if the Class 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 R Certificates as they become due.
J-2
<PAGE>
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, IndyMac, Inc. 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.
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.
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-1
<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-2
<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
funds are advanced with respect to any Mortgage Loan, such advance is
reimbursable to the Master Servicers 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 from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement to the Master
Servicers 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, the Master Servicers 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 an expense of the Company, the
Certificate Administrator, either 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 Certificate Administrator, either 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, the Certificate Administrator and the Master Servicers 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
K-3
<PAGE>
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 Company 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 Company 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-4
<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. 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.
K-5
<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 Certificate Administrator (as defined in the Pooling and
Servicing Agreement (the "Agreement") dated as of November 1, 1997 between
PNC Mortgage Securities Corp., as Depositor, Certificate Administrator and
Master Servicer, IndyMac, Inc., as 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 November 25, 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, the Certificate Administrator or the Master Servicers.
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
L-1
<PAGE>
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.
3. The Buyer warrants and represents to, and covenants with, the Seller,
the Certificate Administrator, the Master Servicers and the Company that (1) the
Buyer is not an employee benefit plan (within the meaning of Section 3(3) of the
Employee Retirement Income Security Act of 1974, as amended ("ERISA")), subject
to the prohibited transaction provisions of ERISA ("Plan"), or a plan (within
the meaning of Section 4975(e)(1) of the Internal Revenue Code of 1986 ("Code"))
subject to Section 4975 of the Code (also a "Plan"), and the Buyer is not
directly or indirectly purchasing the Rule 144A Securities on behalf of, as
investment manager of, as named fiduciary of, as trustee of, or with "plan
assets" of any Plan, (2) the Buyer's purchase of the Rule 144A Securities 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 this
Agreement and the Buyer has provided an Opinion of Counsel to such effect in
accordance with Section 5.01(d) of the Agreement or (3) the Buyer is an
insurance company, the source of funds to be used by it to purchase the Rule
144A Securities is an "insurance company general account" (within the meaning of
Department of Labor Prohibited Transaction Class Exemption ("PTCE") 95-60), and
the purchase is being made in reliance upon the availability of the exemptive
relief afforded under Sections I and III of PTCE 95-60.
4. 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. ____________________________
Date: __________________________ Date: __________________________
L-2
<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 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.
_____________________________
(1/) Buyer must own and/or invest on a discretionary basis at least
$100,000,000 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>
___ 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.
___ ___ 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
L-1-2
<PAGE>
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.
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: ____________________________________________
L-2-1
<PAGE>
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 November 1, 1997 among PNC
Mortgage Securities Corp., as Depositor, Certificate Administrator and
Master Servicer, IndyMac, Inc., as Master Servicer and U.S. Bank National
Association, as Trustee, relating to PNC Mortgage Securities Corp. Mortgage
Pass-Through Certificates, Series 1997-8
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 clauses (X)(vi) and
(Y)(x) 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 Mortgage Loans having a Loan-to-Value Ratio at the time of the
origination of the Mortgage Loan in excess of 80% which were not covered by
a Primary Insurance Policy, an FHA insurance policy or a VA Guaranty
GROUP I
PRINCIPAL BALANCE AS
LOAN NUMBER OF THE CUT-OFF DATE
60013736 $211,034.80
60013792 $211,368.54
60014374 $143,837.94
60014569 $193,869.83
60014831 $127,199.08
60015110 $189,000.00
GROUP II
PRINCIPAL BALANCE AS
LOAN NUMBER OF THE CUT-OFF DATE
500066484 $383,735.73
600103633 $435,341.55
600103654 $251,626.50
600103677 $257,922.28
600103848 $280,000.00
N-1
<PAGE>
Exhibit O
PLANNED PRINCIPAL BALANCE TABLE
<TABLE>
<CAPTION>
CLASS
DISTRIBUTION DATE II-A-1
- ----------------- ----------------
<S> <C>
Initial Balance................................................................................. $ 85,246,108.00
December 25, 1997............................................................................... 85,246,108.00
January 25, 1998................................................................................ 85,246,108.00
February 25, 1998............................................................................... 85,246,108.00
March 25, 1998.................................................................................. 85,246,108.00
April 25, 1998.................................................................................. 85,246,108.00
May 25, 1998.................................................................................... 85,246,108.00
June 25, 1998................................................................................... 85,246,108.00
July 25, 1998................................................................................... 85,246,108.00
August 25, 1998................................................................................. 85,246,108.00
September 25, 1998.............................................................................. 85,246,108.00
October 25, 1998................................................................................ 84,547,846.80
November 25, 1998............................................................................... 83,812,774.97
December 25, 1998............................................................................... 83,041,080.87
January 25, 1999................................................................................ 82,232,965.39
February 25, 1999............................................................................... 81,388,641.78
March 25, 1999.................................................................................. 80,508,335.67
April 25, 1999.................................................................................. 79,592,284.87
May 25, 1999.................................................................................... 78,640,739.36
June 25, 1999................................................................................... 77,653,961.13
July 25, 1999................................................................................... 76,632,224.09
August 25, 1999................................................................................. 75,575,850.97
September 25, 1999.............................................................................. 74,485,232.40
October 25, 1999................................................................................ 73,360,781.22
November 25, 1999............................................................................... 72,202,999.22
December 25, 1999............................................................................... 71,012,458.27
January 25, 2000................................................................................ 69,789,670.89
February 25, 2000............................................................................... 68,535,385.86
March 25, 2000.................................................................................. 67,252,574.86
April 25, 2000.................................................................................. 65,951,607.93
May 25, 2000.................................................................................... 64,647,609.71
June 25, 2000................................................................................... 63,347,199.42
July 25, 2000................................................................................... 62,050,363.30
August 25, 2000................................................................................. 60,757,087.61
September 25, 2000.............................................................................. 59,467,358.67
October 25, 2000................................................................................ 58,181,162.83
November 25, 2000............................................................................... 56,898,486.49
December 25, 2000............................................................................... 55,619,316.08
January 25, 2001................................................................................ 54,343,638.09
February 25, 2001............................................................................... 53,071,439.05
March 25, 2001.................................................................................. 51,802,705.51
April 25, 2001.................................................................................. 50,537,424.08
May 25, 2001.................................................................................... 49,275,581.42
June 25, 2001................................................................................... 48,017,164.21
July 25, 2001................................................................................... 46,762,159.18
</TABLE>
<PAGE>
PLANNED PRINCIPAL BALANCE TABLE
<TABLE>
<CAPTION>
CLASS
DISTRIBUTION DATE II-A-1
- ----------------- ----------------
<S> <C>
August 25, 2001................................................................................. $ 45,510,553.10
September 25, 2001.............................................................................. 44,262,332.80
October 25, 2001................................................................................ 43,017,485.12
November 25, 2001............................................................................... 41,775,996.95
December 25, 2001............................................................................... 40,537,855.25
January 25, 2002................................................................................ 39,303,046.97
February 25, 2002............................................................................... 38,071,559.14
March 25, 2002.................................................................................. 36,843,378.83
April 25, 2002.................................................................................. 35,618,493.11
May 25, 2002.................................................................................... 34,396,889.14
June 25, 2002................................................................................... 33,178,554.09
July 25, 2002................................................................................... 31,963,475.19
August 25, 2002................................................................................. 30,751,639.68
September 25, 2002.............................................................................. 29,543,034.86
October 25, 2002................................................................................ 28,337,648.08
November 25, 2002............................................................................... 27,135,466.71
December 25, 2002............................................................................... 26,088,304.51
January 25, 2003................................................................................ 25,044,522.65
February 25, 2003............................................................................... 24,004,110.27
March 25, 2003.................................................................................. 22,967,056.54
April 25, 2003.................................................................................. 21,933,350.69
May 25, 2003.................................................................................... 20,902,982.00
June 25, 2003................................................................................... 19,875,939.78
July 25, 2003................................................................................... 18,852,213.41
August 25, 2003................................................................................. 17,831,792.28
September 25, 2003.............................................................................. 16,814,665.87
October 25, 2003................................................................................ 15,800,823.68
November 25, 2003............................................................................... 14,790,255.26
December 25, 2003............................................................................... 13,809,779.55
January 25, 2004................................................................................ 12,832,431.09
February 25, 2004............................................................................... 11,858,199.26
March 25, 2004.................................................................................. 10,887,073.49
April 25, 2004.................................................................................. 9,919,043.24
May 25, 2004.................................................................................... 8,954,098.05
June 25, 2004................................................................................... 7,992,227.46
July 25, 2004................................................................................... 7,033,421.07
August 25, 2004................................................................................. 6,077,668.52
September 25, 2004.............................................................................. 5,124,959.50
October 25, 2004................................................................................ 4,175,283.74
November 25, 2004............................................................................... 3,228,631.00
December 25, 2004............................................................................... 2,474,134.03
January 25, 2005................................................................................ 1,742,087.34
February 25, 2005............................................................................... 1,031,955.42
March 25, 2005.................................................................................. 343,214.43
April 25, 2005 and thereafter................................................................... 0.00
</TABLE>
<PAGE>
Exhibit P
TARGETED PRINCIPAL BALANCE TABLES
<TABLE>
<CAPTION>
CLASS CLASS CLASS
DISTRIBUTION DATE II-A-2 II-A-3 II-A-10
- ----------------- ---------------- ---------------- ----------------
<S> <C> <C> <C>
Initial Balance............................................ $ 72,411,210.00 $ 65,563,181.00 $ 10,086,644.00
December 25, 1997.......................................... 72,142,886.50 65,298,128.77 10,049,267.42
January 25, 1998........................................... 71,812,046.65 64,974,392.96 10,003,182.51
February 25, 1998.......................................... 71,418,791.52 64,592,067.84 9,948,403.36
March 25, 1998............................................. 70,963,329.54 64,151,348.35 9,884,959.00
April 25, 1998............................................. 70,445,897.49 63,652,455.99 9,812,882.41
May 25, 1998............................................... 69,866,812.20 63,095,687.28 9,732,217.73
June 25, 1998.............................................. 69,226,470.54 62,481,413.80 9,643,020.24
July 25, 1998.............................................. 68,525,349.30 61,810,082.03 9,545,356.35
August 25, 1998............................................ 67,764,004.81 61,082,213.02 9,439,303.56
September 25, 1998......................................... 66,943,072.45 60,298,401.91 9,324,950.38
October 25, 1998........................................... 66,368,826.33 59,745,758.93 9,244,959.78
November 25, 1998.......................................... 65,752,703.24 59,153,775.62 9,159,135.85
December 25, 1998.......................................... 65,095,484.65 58,523,184.08 9,067,587.46
January 25, 1999........................................... 64,398,021.84 57,854,781.82 8,970,433.18
February 25, 1999.......................................... 63,661,234.59 57,149,430.58 8,867,801.13
March 25, 1999............................................. 62,886,109.71 56,408,054.93 8,759,828.78
April 25, 1999............................................. 62,073,699.40 55,631,640.74 8,646,662.69
May 25, 1999............................................... 61,225,119.45 54,821,233.49 8,528,458.28
June 25, 1999.............................................. 60,341,547.31 53,977,936.43 8,405,379.58
July 25, 1999.............................................. 59,424,219.94 53,102,908.63 8,277,598.89
August 25, 1999............................................ 58,474,476.45 52,197,404.92 8,145,302.74
September 25, 1999......................................... 57,493,776.72 51,262,793.29 8,008,694.48
October 25, 1999........................................... 56,483,641.22 50,300,498.58 7,867,985.92
November 25, 1999.......................................... 55,445,727.79 49,312,074.37 7,723,407.98
December 25, 1999.......................................... 54,381,802.47 48,299,175.68 7,575,206.68
January 25, 2000........................................... 53,293,580.03 47,263,409.47 7,423,620.86
February 25, 2000.......................................... 52,183,075.27 46,206,663.93 7,268,931.19
March 25, 2000............................................. 51,054,942.11 45,133,301.27 7,111,785.94
April 25, 2000............................................. 49,922,488.56 44,055,796.28 6,954,038.88
May 25, 2000............................................... 48,804,210.22 42,991,486.77 6,798,266.38
June 25, 2000.............................................. 47,707,908.44 41,947,685.41 6,645,555.13
July 25, 2000.............................................. 46,633,268.72 40,924,096.85 6,495,861.35
August 25, 2000............................................ 45,579,980.90 39,920,429.77 6,349,141.81
September 25, 2000......................................... 44,547,739.08 38,936,396.88 6,205,353.91
October 25, 2000........................................... 43,536,241.59 37,971,714.82 6,064,455.63
November 25, 2000.......................................... 42,545,190.92 37,026,104.13 5,926,405.52
December 25, 2000.......................................... 41,574,293.64 36,099,289.19 5,791,162.71
January 25, 2001........................................... 40,623,260.39 35,190,998.19 5,658,686.90
February 25, 2001.......................................... 39,691,805.80 34,300,963.03 5,528,938.33
March 25, 2001............................................. 38,779,648.42 33,428,919.31 5,401,877.80
April 25, 2001............................................. 37,886,510.71 32,574,606.27 5,277,466.65
May 25, 2001............................................... 37,012,118.93 31,737,766.74 5,155,666.74
June 25, 2001.............................................. 36,156,203.15 30,918,147.09 5,036,440.48
July 25, 2001.............................................. 35,318,497.16 30,115,497.17 4,919,750.79
</TABLE>
<PAGE>
TARGETED PRINCIPAL BALANCE TABLES
<TABLE>
<CAPTION>
CLASS CLASS CLASS
DISTRIBUTION DATE II-A-2 II-A-3 II-A-10
- ----------------- ---------------- ---------------- ----------------
<S> <C> <C> <C>
August 25, 2001............................................ $ 34,498,738.41 $ 29,329,570.29 $ 4,805,561.08
September 25, 2001......................................... 33,696,668.01 28,560,123.15 4,693,835.31
October 25, 2001........................................... 32,912,030.62 27,806,915.81 4,584,537.89
November 25, 2001.......................................... 32,144,574.44 27,069,711.63 4,477,633.77
December 25, 2001.......................................... 31,394,051.17 26,348,277.22 4,373,088.34
January 25, 2002........................................... 30,660,215.93 25,642,382.43 4,270,867.49
February 25, 2002.......................................... 29,942,827.22 24,951,800.27 4,170,937.60
March 25, 2002............................................. 29,241,646.89 24,276,306.88 4,073,265.48
April 25, 2002............................................. 28,556,440.11 23,615,681.49 3,977,818.43
May 25, 2002............................................... 27,886,975.28 22,969,706.39 3,884,564.17
June 25, 2002.............................................. 27,233,024.00 22,338,166.84 3,793,470.90
July 25, 2002.............................................. 26,594,361.06 21,720,851.10 3,704,507.25
August 25, 2002............................................ 25,970,764.37 21,117,550.34 3,617,642.28
September 25, 2002......................................... 25,362,014.90 20,528,058.60 3,532,845.47
October 25, 2002........................................... 24,767,896.67 19,952,172.80 3,450,086.75
November 25, 2002.......................................... 24,188,196.71 19,389,692.62 3,369,336.45
December 25, 2002.......................................... 23,733,391.68 18,944,181.62 3,305,983.60
January 25, 2003........................................... 23,291,792.29 18,510,938.23 3,244,470.26
February 25, 2003.......................................... 22,863,196.12 18,089,772.00 3,184,768.21
March 25, 2003............................................. 22,447,403.52 17,680,495.15 3,126,849.67
April 25, 2003............................................. 22,044,217.66 17,282,922.48 3,070,687.20
May 25, 2003............................................... 21,653,444.42 16,896,871.38 3,016,253.77
June 25, 2003.............................................. 21,274,892.41 16,522,161.74 2,963,522.72
July 25, 2003.............................................. 20,908,372.92 16,158,616.00 2,912,467.75
August 25, 2003............................................ 20,553,699.84 15,806,059.02 2,863,062.96
September 25, 2003......................................... 20,210,689.68 15,464,318.12 2,815,282.77
October 25, 2003........................................... 19,879,161.53 15,133,223.00 2,769,101.98
November 25, 2003.......................................... 19,558,936.96 14,812,605.73 2,724,495.75
December 25, 2003.......................................... 19,284,100.73 14,534,417.71 2,686,211.97
January 25, 2004........................................... 19,019,732.02 14,265,922.39 2,649,386.27
February 25, 2004.......................................... 18,765,663.46 14,006,962.19 2,613,995.36
March 25, 2004............................................. 18,521,730.07 13,757,381.74 2,580,016.24
April 25, 2004............................................. 18,287,769.20 13,517,027.87 2,547,426.26
May 25, 2004............................................... 18,063,620.51 13,285,749.53 2,516,203.08
June 25, 2004.............................................. 17,849,125.92 13,063,397.86 2,486,324.69
July 25, 2004.............................................. 17,644,129.62 12,849,826.03 2,457,769.37
August 25, 2004............................................ 17,448,477.97 12,644,889.34 2,430,515.74
September 25, 2004......................................... 17,262,019.56 12,448,445.08 2,404,542.69
October 25, 2004........................................... 17,084,605.09 12,260,352.60 2,379,829.44
November 25, 2004.......................................... 16,916,087.41 12,080,473.19 2,356,355.48
December 25, 2004.......................................... 16,758,521.60 11,910,732.61 2,334,407.08
January 25, 2005........................................... 16,599,692.48 11,739,679.24 2,312,282.71
February 25, 2005.......................................... 16,439,702.90 11,567,408.74 2,289,996.68
March 25, 2005............................................. 16,278,652.53 11,394,013.79 2,267,562.89
April 25, 2005............................................. 15,974,589.98 11,086,424.06 2,225,207.98
May 25, 2005............................................... 15,528,401.08 10,645,469.20 2,163,055.33
June 25, 2005.............................................. 15,090,133.34 10,211,807.54 2,102,006.07
</TABLE>
<PAGE>
TARGETED PRINCIPAL BALANCE TABLES
<TABLE>
<CAPTION>
CLASS CLASS CLASS
DISTRIBUTION DATE II-A-2 II-A-3 II-A-10
- ----------------- ---------------- ---------------- ----------------
<S> <C> <C> <C>
July 25, 2005.............................................. $ 14,659,664.51 $ 9,785,323.75 $ 2,042,043.17
August 25, 2005............................................ 14,236,874.17 9,365,904.11 1,983,149.87
September 25, 2005......................................... 13,821,643.58 8,953,436.58 1,925,309.61
October 25, 2005........................................... 13,413,855.75 8,547,810.68 1,868,506.10
November 25, 2005.......................................... 13,013,395.40 8,148,917.55 1,812,723.29
December 25, 2005.......................................... 12,695,983.68 7,827,739.73 1,768,508.88
January 25, 2006........................................... 12,384,030.09 7,511,540.71 1,725,054.76
February 25, 2006.......................................... 12,077,448.56 7,200,238.99 1,682,348.96
March 25, 2006............................................. 11,776,154.29 6,893,754.27 1,640,379.66
April 25, 2006............................................. 11,480,063.74 6,592,007.45 1,599,135.22
May 25, 2006............................................... 11,189,094.65 6,294,920.56 1,558,604.18
June 25, 2006.............................................. 10,903,165.97 6,002,416.82 1,518,775.25
July 25, 2006.............................................. 10,622,197.88 5,714,420.58 1,479,637.32
August 25, 2006............................................ 10,346,111.75 5,430,857.29 1,441,179.43
September 25, 2006......................................... 10,074,830.14 5,151,653.51 1,403,390.79
October 25, 2006........................................... 9,808,276.76 4,876,736.90 1,366,260.78
November 25, 2006.......................................... 9,546,376.48 4,606,036.16 1,329,778.93
December 25, 2006.......................................... 9,354,466.72 4,400,799.76 1,303,046.53
January 25, 2007........................................... 9,165,274.91 4,197,963.46 1,276,692.73
February 25, 2007.......................................... 8,978,763.54 3,997,491.24 1,250,712.30
March 25, 2007............................................. 8,794,895.61 3,799,347.55 1,225,100.11
April 25, 2007............................................. 8,613,634.64 3,603,497.32 1,199,851.05
May 25, 2007............................................... 8,434,944.64 3,409,905.93 1,174,960.12
June 25, 2007.............................................. 8,258,790.10 3,218,539.22 1,150,422.37
July 25, 2007.............................................. 8,085,136.02 3,029,363.48 1,126,232.92
August 25, 2007............................................ 7,913,947.85 2,842,345.43 1,102,386.97
September 25, 2007......................................... 7,745,191.52 2,657,452.25 1,078,879.77
October 25, 2007........................................... 7,578,833.43 2,474,651.52 1,055,706.63
November 25, 2007.......................................... 7,414,840.44 2,293,911.27 1,032,862.95
December 25, 2007.......................................... 7,253,179.85 2,115,199.94 1,010,344.16
January 25, 2008........................................... 7,093,819.41 1,938,486.37 988,145.77
February 25, 2008.......................................... 6,936,727.32 1,763,739.83 966,263.36
March 25, 2008............................................. 6,781,872.19 1,590,929.97 944,692.55
April 25, 2008............................................. 6,629,223.10 1,420,026.86 923,429.03
May 25, 2008............................................... 6,478,749.50 1,251,000.92 902,468.55
June 25, 2008.............................................. 6,330,421.30 1,083,823.01 881,806.92
July 25, 2008.............................................. 6,184,208.80 918,464.32 861,440.00
August 25, 2008............................................ 6,040,082.71 754,896.43 841,363.71
September 25, 2008......................................... 5,898,014.13 593,091.32 821,574.02
October 25, 2008........................................... 5,757,974.56 433,021.28 802,066.97
November 25, 2008.......................................... 5,619,935.91 274,659.00 782,838.64
December 25, 2008.......................................... 5,483,870.45 117,977.50 763,885.16
January 25, 2009........................................... 5,349,750.82 0.00 745,202.74
February 25, 2009.......................................... 5,217,550.07 0.00 726,787.61
March 25, 2009............................................. 5,087,241.57 0.00 708,636.06
April 25, 2009............................................. 4,958,799.10 0.00 690,744.45
May 25, 2009............................................... 4,832,196.78 0.00 673,109.16
</TABLE>
<PAGE>
TARGETED PRINCIPAL BALANCE TABLES
<TABLE>
<CAPTION>
CLASS CLASS CLASS
DISTRIBUTION DATE II-A-2 II-A-3 II-A-10
- ----------------- ---------------- ---------------- ----------------
<S> <C> <C> <C>
June 25, 2009.............................................. $ 4,707,409.06 $ 0.00 $ 655,726.64
July 25, 2009.............................................. 4,584,410.77 0.00 638,593.38
August 25, 2009............................................ 4,463,177.09 0.00 621,705.93
September 25, 2009......................................... 4,343,683.50 0.00 605,060.86
October 25, 2009........................................... 4,225,905.85 0.00 588,654.82
November 25, 2009.......................................... 4,109,820.30 0.00 572,484.49
December 25, 2009.......................................... 3,995,403.36 0.00 556,546.58
January 25, 2010........................................... 3,882,631.84 0.00 540,837.88
February 25, 2010.......................................... 3,771,482.86 0.00 525,355.19
March 25, 2010............................................. 3,661,933.88 0.00 510,095.38
April 25, 2010............................................. 3,553,962.64 0.00 495,055.34
May 25, 2010............................................... 3,447,547.22 0.00 480,232.02
June 25, 2010.............................................. 3,342,665.95 0.00 465,622.40
July 25, 2010.............................................. 3,239,297.51 0.00 451,223.52
August 25, 2010............................................ 3,137,420.83 0.00 437,032.43
September 25, 2010......................................... 3,037,015.15 0.00 423,046.25
October 25, 2010........................................... 2,938,059.98 0.00 409,262.12
November 25, 2010.......................................... 2,840,535.13 0.00 395,677.23
December 25, 2010.......................................... 2,744,420.68 0.00 382,288.80
January 25, 2011........................................... 2,649,696.96 0.00 369,094.09
February 25, 2011.......................................... 2,556,344.60 0.00 356,090.42
March 25, 2011............................................. 2,464,344.48 0.00 343,275.10
April 25, 2011............................................. 2,373,677.74 0.00 330,645.52
May 25, 2011............................................... 2,284,325.79 0.00 318,199.09
June 25, 2011.............................................. 2,196,270.28 0.00 305,933.25
July 25, 2011.............................................. 2,109,493.13 0.00 293,845.47
August 25, 2011............................................ 2,023,976.48 0.00 281,933.28
September 25, 2011......................................... 1,939,702.74 0.00 270,194.23
October 25, 2011........................................... 1,856,654.55 0.00 258,625.89
November 25, 2011.......................................... 1,774,814.79 0.00 247,225.88
December 25, 2011.......................................... 1,694,166.58 0.00 235,991.85
January 25, 2012........................................... 1,614,693.26 0.00 224,921.47
February 25, 2012.......................................... 1,536,378.41 0.00 214,012.47
March 25, 2012............................................. 1,459,205.83 0.00 203,262.58
April 25, 2012............................................. 1,383,159.53 0.00 192,669.59
May 25, 2012............................................... 1,308,223.77 0.00 182,231.28
June 25, 2012.............................................. 1,234,382.99 0.00 171,945.50
July 25, 2012.............................................. 1,161,621.87 0.00 161,810.12
August 25, 2012............................................ 1,089,925.28 0.00 151,823.02
September 25, 2012......................................... 1,019,278.33 0.00 141,982.13
October 25, 2012........................................... 949,666.29 0.00 132,285.40
November 25, 2012.......................................... 881,074.67 0.00 122,730.81
December 25, 2012.......................................... 813,489.16 0.00 113,316.37
January 25, 2013........................................... 746,895.66 0.00 104,040.11
February 25, 2013.......................................... 681,280.23 0.00 94,900.10
March 25, 2013............................................. 616,629.17 0.00 85,894.42
April 25, 2013............................................. 552,928.92 0.00 77,021.19
</TABLE>
<PAGE>
TARGETED PRINCIPAL BALANCE TABLES
<TABLE>
<CAPTION>
CLASS CLASS CLASS
DISTRIBUTION DATE II-A-2 II-A-3 II-A-10
- ----------------- ---------------- ---------------- ----------------
<S> <C> <C> <C>
May 25, 2013............................................... $ 490,166.16 $ 0.00 $ 68,278.54
June 25, 2013.............................................. 428,327.70 0.00 59,664.64
July 25, 2013.............................................. 367,400.56 0.00 51,177.69
August 25, 2013............................................ 307,371.94 0.00 42,815.90
September 25, 2013......................................... 248,229.21 0.00 34,577.51
October 25, 2013........................................... 189,959.90 0.00 26,460.79
November 25, 2013.......................................... 132,551.73 0.00 18,464.02
December 25, 2013.......................................... 75,992.58 0.00 10,585.52
January 25, 2014........................................... 20,270.51 0.00 2,823.62
February 25, 2014 and thereafter........................... 0.00 0.00 0.00
</TABLE>
<PAGE>
EXHIBIT Q
PERCENTAGE REDUCTION FACTOR
<TABLE>
<CAPTION>
DISTRIBUTION DATE
- -----------------
<S> <C>
December 25, 1997............................................................................ 0.1835505662%
January 25, 1998............................................................................. 0.2258713456
February 25, 1998............................................................................ 0.2684079682
March 25, 1998............................................................................... 0.3111281460
April 25, 1998............................................................................... 0.3540676609
May 25, 1998................................................................................. 0.3972278059
June 25, 1998................................................................................ 0.4406099283
July 25, 1998................................................................................ 0.4842154289
August 25, 1998.............................................................................. 0.5280457607
September 25, 1998........................................................................... 0.5721024286
October 25, 1998............................................................................. 0.6163578227
November 25, 1998............................................................................ 0.6608006069
December 25, 1998............................................................................ 0.7054758859
January 25, 1999............................................................................. 0.7503852604
February 25, 1999............................................................................ 0.7955303810
March 25, 1999............................................................................... 0.8409129480
April 25, 1999............................................................................... 0.8865347099
May 25, 1999................................................................................. 0.9323974634
June 25, 1999................................................................................ 0.9785030523
July 25, 1999................................................................................ 1.0248533672
August 25, 1999.............................................................................. 1.0714042536
September 25, 1999........................................................................... 1.1180866198
October 25, 1999............................................................................. 1.1648871316
November 25, 1999............................................................................ 1.2117058860
December 25, 1999............................................................................ 1.2584644794
January 25, 2000............................................................................. 1.3052489064
February 25, 2000............................................................................ 1.3517574736
March 25, 2000............................................................................... 1.3950250600
April 25, 2000............................................................................... 1.4249576247
May 25, 2000................................................................................. 1.4346443378
June 25, 2000................................................................................ 1.4352715844
July 25, 2000................................................................................ 1.4359040847
August 25, 2000.............................................................................. 1.4365418909
September 25, 2000........................................................................... 1.4371850559
October 25, 2000............................................................................. 1.4378336332
November 25, 2000............................................................................ 1.4384876770
December 25, 2000............................................................................ 1.4391472421
January 25, 2001............................................................................. 1.4398123841
February 25, 2001............................................................................ 1.4404831592
March 25, 2001............................................................................... 1.4411596243
April 25, 2001............................................................................... 1.4418418372
May 25, 2001................................................................................. 1.4425298562
June 25, 2001................................................................................ 1.4432237405
July 25, 2001................................................................................ 1.4439235499
August 25, 2001.............................................................................. 1.4446293450
September 25, 2001........................................................................... 1.4453411874
</TABLE>
<PAGE>
PERCENTAGE REDUCTION FACTOR
<TABLE>
<CAPTION>
DISTRIBUTION DATE
- -----------------
<S> <C>
October 25, 2001............................................................................. 1.4460591392%
November 25, 2001............................................................................ 1.4467832634
December 25, 2001............................................................................ 1.4475136239
January 25, 2002............................................................................. 1.4482502853
February 25, 2002............................................................................ 1.4489933131
March 25, 2002............................................................................... 1.4497427737
April 25, 2002............................................................................... 1.4504987342
May 25, 2002................................................................................. 1.4512612628
June 25, 2002................................................................................ 1.4520304284
July 25, 2002................................................................................ 1.4528063010
August 25, 2002.............................................................................. 1.4535889515
September 25, 2002........................................................................... 1.4543784515
October 25, 2002............................................................................. 1.4551748738
November 25, 2002............................................................................ 1.4559782921
December 25, 2002............................................................................ 1.4567887811
January 25, 2003............................................................................. 1.4576064165
February 25, 2003............................................................................ 1.4584312751
March 25, 2003............................................................................... 1.4592634345
April 25, 2003............................................................................... 1.4601029737
May 25, 2003................................................................................. 1.4609499725
June 25, 2003................................................................................ 1.4618045119
July 25, 2003................................................................................ 1.4626666740
August 25, 2003.............................................................................. 1.4635365420
September 25, 2003........................................................................... 1.4644142004
October 25, 2003............................................................................. 1.4652997347
November 25, 2003............................................................................ 1.4661932317
December 25, 2003............................................................................ 1.4670947792
January 25, 2004............................................................................. 1.4680044666
February 25, 2004............................................................................ 1.4689223842
March 25, 2004............................................................................... 1.4698486239
April 25, 2004............................................................................... 1.4707832786
May 25, 2004................................................................................. 1.4717264427
June 25, 2004................................................................................ 1.4726782119
July 25, 2004................................................................................ 1.4736386833
August 25, 2004.............................................................................. 1.4746079553
September 25, 2004........................................................................... 1.4755861279
October 25, 2004............................................................................. 1.4765733024
November 25, 2004............................................................................ 1.4775695816
December 25, 2004............................................................................ 1.4785750698
January 25, 2005............................................................................. 1.4795898728
February 25, 2005............................................................................ 1.4806140981
March 25, 2005............................................................................... 1.4816478547
April 25, 2005............................................................................... 1.4826912530
May 25, 2005................................................................................. 1.4837444054
June 25, 2005................................................................................ 1.4848074258
July 25, 2005................................................................................ 1.4858804298
August 25, 2005.............................................................................. 1.4869635347
</TABLE>
<PAGE>
PERCENTAGE REDUCTION FACTOR
<TABLE>
<CAPTION>
DISTRIBUTION DATE
- -----------------
<S> <C>
September 25, 2005........................................................................... 1.4880568596%
October 25, 2005............................................................................. 1.4891605256
November 25, 2005............................................................................ 1.4902746552
December 25, 2005............................................................................ 1.4913993733
January 25, 2006............................................................................. 1.4925348063
February 25, 2006............................................................................ 1.4936810826
March 25, 2006............................................................................... 1.4948383329
April 25, 2006............................................................................... 1.4960066895
May 25, 2006................................................................................. 1.4971862871
June 25, 2006................................................................................ 1.4983772622
July 25, 2006................................................................................ 1.4995797537
August 25, 2006.............................................................................. 1.5007939026
September 25, 2006........................................................................... 1.5020198520
October 25, 2006............................................................................. 1.5032577474
November 25, 2006............................................................................ 1.5045077366
December 25, 2006............................................................................ 1.5057699699
January 25, 2007............................................................................. 1.5070445996
February 25, 2007............................................................................ 1.5083317809
March 25, 2007............................................................................... 1.5096316713
April 25, 2007............................................................................... 1.5109444309
May 25, 2007................................................................................. 1.5122702224
June 25, 2007................................................................................ 1.5136092111
July 25, 2007................................................................................ 1.5149615651
August 25, 2007.............................................................................. 1.5163274553
September 25, 2007........................................................................... 1.5177070554
October 25, 2007............................................................................. 1.5191005420
November 25, 2007............................................................................ 1.5205080946
December 25, 2007............................................................................ 1.5219298958
January 25, 2008............................................................................. 1.5233661312
February 25, 2008............................................................................ 1.5248169896
March 25, 2008............................................................................... 1.5262826629
April 25, 2008............................................................................... 1.5277633465
May 25, 2008................................................................................. 1.5292592389
June 25, 2008................................................................................ 1.5307705422
July 25, 2008................................................................................ 1.5322974620
August 25, 2008.............................................................................. 1.5338402073
September 25, 2008........................................................................... 1.5353989909
October 25, 2008............................................................................. 1.5369740293
November 25, 2008............................................................................ 1.5385655427
December 25, 2008............................................................................ 1.5401737555
January 25, 2009............................................................................. 1.5417988957
February 25, 2009............................................................................ 1.5434411956
March 25, 2009............................................................................... 1.5451008917
April 25, 2009............................................................................... 1.5467782245
May 25, 2009................................................................................. 1.5484734393
June 25, 2009................................................................................ 1.5501867853
July 25, 2009................................................................................ 1.5519185166
</TABLE>
<PAGE>
PERCENTAGE REDUCTION FACTOR
<TABLE>
<CAPTION>
DISTRIBUTION DATE
- -----------------
<S> <C>
August 25, 2009.............................................................................. 1.5536688921%
September 25, 2009........................................................................... 1.5554381750
October 25, 2009............................................................................. 1.5572266338
November 25, 2009............................................................................ 1.5590345417
December 25, 2009............................................................................ 1.5608621773
January 25, 2010............................................................................. 1.5627098241
February 25, 2010............................................................................ 1.5645777712
March 25, 2010............................................................................... 1.5664663131
April 25, 2010............................................................................... 1.5683757499
May 25, 2010................................................................................. 1.5703063875
June 25, 2010................................................................................ 1.5722585374
July 25, 2010................................................................................ 1.5742325176
August 25, 2010.............................................................................. 1.5762286519
September 25, 2010........................................................................... 1.5782472705
October 25, 2010............................................................................. 1.5802887102
November 25, 2010............................................................................ 1.5823533142
December 25, 2010............................................................................ 1.5844414329
January 25, 2011............................................................................. 1.5865534231
February 25, 2011............................................................................ 1.5886896493
March 25, 2011............................................................................... 1.5908504830
April 25, 2011............................................................................... 1.5930363033
May 25, 2011................................................................................. 1.5952474970
June 25, 2011................................................................................ 1.5974844586
July 25, 2011................................................................................ 1.5997475911
August 25, 2011.............................................................................. 1.6020373055
September 25, 2011........................................................................... 1.6043540215
October 25, 2011............................................................................. 1.6066981673
November 25, 2011............................................................................ 1.6090701802
December 25, 2011............................................................................ 1.6114705070
January 25, 2012............................................................................. 1.6138996034
February 25, 2012............................................................................ 1.6163579352
March 25, 2012............................................................................... 1.6188459782
April 25, 2012............................................................................... 1.6213642181
May 25, 2012................................................................................. 1.6239131514
June 25, 2012................................................................................ 1.6264932854
July 25, 2012................................................................................ 1.6291051382
August 25, 2012.............................................................................. 1.6317492397
September 25, 2012........................................................................... 1.6344261311
October 25, 2012............................................................................. 1.6371363661
November 25, 2012............................................................................ 1.6398805105
December 25, 2012............................................................................ 1.6426591427
January 25, 2013............................................................................. 1.6454728544
February 25, 2013............................................................................ 1.6483222508
March 25, 2013............................................................................... 1.6512079508
April 25, 2013............................................................................... 1.6541305876
May 25, 2013................................................................................. 1.6570908091
June 25, 2013................................................................................ 1.6600892781
</TABLE>
<PAGE>
PERCENTAGE REDUCTION FACTOR
<TABLE>
<CAPTION>
DISTRIBUTION DATE
- -----------------
<S> <C>
July 25, 2013................................................................................ 1.6631266731%
August 25, 2013.............................................................................. 1.6662036886
September 25, 2013........................................................................... 1.6693210355
October 25, 2013............................................................................. 1.6724794416
November 25, 2013............................................................................ 1.6756796522
December 25, 2013............................................................................ 1.6789224305
January 25, 2014............................................................................. 1.6822085584
February 25, 2014............................................................................ 1.6855388368
March 25, 2014............................................................................... 1.6889140862
April 25, 2014............................................................................... 1.6923351475
May 25, 2014................................................................................. 1.6958028825
June 25, 2014................................................................................ 1.6993181746
July 25, 2014................................................................................ 1.7028819294
August 25, 2014.............................................................................. 1.7064950755
September 25, 2014........................................................................... 1.7101585651
October 25, 2014............................................................................. 1.7138733750
November 25, 2014............................................................................ 1.7176405071
December 25, 2014............................................................................ 1.7214609897
January 25, 2015............................................................................. 1.7253358775
February 25, 2015............................................................................ 1.7292662535
March 25, 2015............................................................................... 1.7332532291
April 25, 2015............................................................................... 1.7372979456
May 25, 2015................................................................................. 1.7414015749
June 25, 2015................................................................................ 1.7455653206
July 25, 2015................................................................................ 1.7497904193
August 25, 2015.............................................................................. 1.7540781413
September 25, 2015........................................................................... 1.7584297922
October 25, 2015............................................................................. 1.7628467138
November 25, 2015............................................................................ 1.7673302857
December 25, 2015............................................................................ 1.7718819263
January 25, 2016............................................................................. 1.7765030944
February 25, 2016............................................................................ 1.7811952904
March 25, 2016............................................................................... 1.7859600583
April 25, 2016............................................................................... 1.7907989866
May 25, 2016................................................................................. 1.7957137105
June 25, 2016................................................................................ 1.8007059135
July 25, 2016................................................................................ 1.8057773288
August 25, 2016.............................................................................. 1.8109297418
September 25, 2016........................................................................... 1.8161649914
October 25, 2016............................................................................. 1.8214849727
November 25, 2016............................................................................ 1.8268916386
December 25, 2016............................................................................ 1.8323870023
January 25, 2017............................................................................. 1.8379731395
February 25, 2017............................................................................ 1.8436521912
March 25, 2017............................................................................... 1.8494263657
April 25, 2017............................................................................... 1.8552979419
May 25, 2017................................................................................. 1.8612692716
</TABLE>
<PAGE>
PERCENTAGE REDUCTION FACTOR
<TABLE>
<CAPTION>
DISTRIBUTION DATE
- -----------------
<S> <C>
June 25, 2017................................................................................ 1.8673427828%
July 25, 2017................................................................................ 1.8735209826
August 25, 2017.............................................................................. 1.8798064608
September 25, 2017........................................................................... 1.8853215566
October 25, 2017............................................................................. 1.8918138750
November 25, 2017............................................................................ 1.8984213661
December 25, 2017............................................................................ 1.9051469716
January 25, 2018............................................................................. 1.9119937336
February 25, 2018............................................................................ 1.9189647997
March 25, 2018............................................................................... 1.9260634270
April 25, 2018............................................................................... 1.9332929872
May 25, 2018................................................................................. 1.9406569715
June 25, 2018................................................................................ 1.9481589961
July 25, 2018................................................................................ 1.9558028080
August 25, 2018.............................................................................. 1.9635922904
September 25, 2018........................................................................... 1.9715314695
October 25, 2018............................................................................. 1.9796245210
November 25, 2018............................................................................ 1.9878757770
December 25, 2018............................................................................ 1.9962897336
January 25, 2019............................................................................. 2.0048710583
February 25, 2019............................................................................ 2.0136245989
March 25, 2019............................................................................... 2.0225553916
April 25, 2019............................................................................... 2.0316686707
May 25, 2019................................................................................. 2.0409698786
June 25, 2019................................................................................ 2.0504646755
July 25, 2019................................................................................ 2.0601589513
August 25, 2019.............................................................................. 2.0700588366
September 25, 2019........................................................................... 2.0801707157
October 25, 2019............................................................................. 2.0905012395
November 25, 2019............................................................................ 2.1010573399
December 25, 2019............................................................................ 2.1118462445
January 25, 2020............................................................................. 2.1228754925
February 25, 2020............................................................................ 2.1341529521
March 25, 2020............................................................................... 2.1456868381
April 25, 2020............................................................................... 2.1574857317
May 25, 2020................................................................................. 2.1695586009
June 25, 2020................................................................................ 2.1819148224
July 25, 2020................................................................................ 2.1945642055
August 25, 2020.............................................................................. 2.2075170171
September 25, 2020........................................................................... 2.2207840089
October 25, 2020............................................................................. 2.2343764461
November 25, 2020............................................................................ 2.2483061386
December 25, 2020............................................................................ 2.2625854745
January 25, 2021............................................................................. 2.2772274553
February 25, 2021............................................................................ 2.2922457352
March 25, 2021............................................................................... 2.3076546619
April 25, 2021............................................................................... 2.3234693216
</TABLE>
<PAGE>
PERCENTAGE REDUCTION FACTOR
<TABLE>
<CAPTION>
DISTRIBUTION DATE
- -----------------
<S> <C>
May 25, 2021................................................................................. 2.3397055869%
June 25, 2021................................................................................ 2.3545952418
July 25, 2021................................................................................ 2.3716755605
August 25, 2021.............................................................................. 2.3892283019
September 25, 2021........................................................................... 2.4050368023
October 25, 2021............................................................................. 2.4235286172
November 25, 2021............................................................................ 2.4425517981
December 25, 2021............................................................................ 2.4621291402
January 25, 2022............................................................................. 2.4822847609
February 25, 2022............................................................................ 2.5030441972
March 25, 2022............................................................................... 2.5244345118
April 25, 2022............................................................................... 2.5448228893
May 25, 2022................................................................................. 2.5675091025
June 25, 2022................................................................................ 2.5909152004
July 25, 2022................................................................................ 2.6150754546
August 25, 2022.............................................................................. 2.6400263463
September 25, 2022........................................................................... 2.6644829479
October 25, 2022............................................................................. 2.6892813125
November 25, 2022............................................................................ 2.7167365036
December 25, 2022............................................................................ 2.7451484507
January 25, 2023............................................................................. 2.7745673854
February 25, 2023............................................................................ 2.8050471181
March 25, 2023............................................................................... 2.8366453614
April 25, 2023............................................................................... 2.8694240917
May 25, 2023................................................................................. 2.9017158674
June 25, 2023................................................................................ 2.9369915232
July 25, 2023................................................................................ 2.9736593257
August 25, 2023.............................................................................. 3.0118024784
September 25, 2023........................................................................... 3.0495733030
October 25, 2023............................................................................. 3.0908611843
November 25, 2023............................................................................ 3.1339121525
December 25, 2023............................................................................ 3.1788405809
January 25, 2024............................................................................. 3.2257709531
February 25, 2024............................................................................ 3.2748390061
March 25, 2024............................................................................... 3.3261930303
April 25, 2024............................................................................... 3.3799953560
May 25, 2024................................................................................. 3.4364240550
June 25, 2024................................................................................ 3.4956748958
July 25, 2024................................................................................ 3.5561194060
August 25, 2024.............................................................................. 3.6215846781
September 25, 2024........................................................................... 3.6905818300
October 25, 2024............................................................................. 3.7613740322
November 25, 2024............................................................................ 3.8382253935
December 25, 2024............................................................................ 3.9195784835
January 25, 2025............................................................................. 4.0037545304
February 25, 2025............................................................................ 4.0952453907
March 25, 2025............................................................................... 4.1926002397
</TABLE>
<PAGE>
PERCENTAGE REDUCTION FACTOR
<TABLE>
<CAPTION>
DISTRIBUTION DATE
- -----------------
<S> <C>
April 25, 2025............................................................................... 4.2963991195%
May 25, 2025................................................................................. 4.4073011802
June 25, 2025................................................................................ 4.5260586412
July 25, 2025................................................................................ 4.6535338194
August 25, 2025.............................................................................. 4.7907200367
September 25, 2025........................................................................... 4.9359924205
October 25, 2025............................................................................. 5.0960053233
November 25, 2025............................................................................ 5.2697568038
December 25, 2025............................................................................ 5.4590911908
January 25, 2026............................................................................. 5.6661983963
February 25, 2026............................................................................ 5.8873864641
March 25, 2026............................................................................... 6.1377737884
April 25, 2026............................................................................... 6.4124926581
May 25, 2026................................................................................. 6.7168915415
June 25, 2026................................................................................ 7.0634185271
July 25, 2026................................................................................ 7.4549998377
August 25, 2026.............................................................................. 7.9010224782
September 25, 2026........................................................................... 8.4070620856
October 25, 2026............................................................................. 9.0013577321
November 25, 2026............................................................................ 9.6998800179
December 25, 2026............................................................................ 10.5109470786
January 25, 2027............................................................................. 11.5019761410
February 25, 2027............................................................................ 12.7031763756
March 25, 2027............................................................................... 14.1857317433
April 25, 2027............................................................................... 16.1333511217
May 25, 2027................................................................................. 18.7847108452
June 25, 2027................................................................................ 22.5170981794
July 25, 2027................................................................................ 28.2028891461
August 25, 2027.............................................................................. 37.7914625528
September 25, 2027........................................................................... 54.6371202105
October 25, 2027............................................................................. 74.2963944276
November 25, 2027............................................................................ 100.0000000000
</TABLE>
